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The Global Newspaper 
Edited in Paris 
Printed Simultaneoustv 
in Paris, London, Zurich, 
Kong, Siiigapo^ 

rbe Hague and Mareeiu,. 


>. The 


WEAIHa DATA APPEAR ON PAGE T4 



INTERNATIONAL 



University Of Jordan 
Center of Strategic St udiet . 
READING ROOM 


• AflODn imt_ 

-2DS- Wr_ 


-1SJO 


..... 


No. 31,713 


Pnblished With The New York Hme, and The W a^LtZp^T 

* ZURICH, TUESDAY, FEBBUARY S, 1985 


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By Robert D. McFadden 
U F0r 32 10001115 

before be defected to the United 
N. Shev- 


Spying for lheU.S.: 

.dor Reveals Details 


ESTABLISHED 1887 


•:;5» 


•• - h^sj: 


'V aoev- 

™rako. a top Soviet diplomat, 
passed Soviet secrets to American 
agents while serving as undwsecre- 

J^^aiofthe&nitedjS^ 

the defector says in a new boot 


says in a new book. 
Mr. Shevchenko, the highesi- 
nmktng Soviet official eveHode- 
feet, says he gave the United States 
information on Soviet positions in 
toe strategic arms limitation miu 

wS fc‘t “»* maneuvers in- 

....; J e^ ' side the Kiemlm, and provided se- 
°ets on Soviet plans in Europe 
Africa, Centra] America and other 


NV?!* 
.■faT* 




- -S, 


foreign policy arenas. 


Ur- 


fore he stopped spying when 
confronted with a summons to re- 
turn to Moscow, Mr. Shevchenko 
-also gave the United States exten- 
■»ve Soviet cable traffic to and from 
the United Nations and Washing 

Inn Ma)iC.ii , 1 .— A • . 



Foreign Minister Andrei A. Gro- 
myko and other Soviet officials. 

Senator Daniel Patrick Moyni- 
han, Democrat of New York, who 
was the chief U.S. representative at 
the United Nations when Mr. 
Shevchenko was a spy, said: 

“For the first time we got an 
understanding of how Soviet for- 
eign policy is made and bow it is 
operating. The persons who would 
need to know that, who would want 
to know that, think it was invalu- 
able. Nothing like it bad ever hap- 
pened before.” 

The book, “Breaking with Mos- 
cow,” to be published this month 


by Alfred A Knopf, is a 370-page 


Arkady N. Shevchenko 


— - — auu w asm no- 

2ia , *p , fr d -»“'«-«p 

Soviet messages around the wSi Bul he said 

No majoTboups for Iff. ■ Sbevch ^° supplied in- 

states are cited in the book, and a im^h? U> i m “ y . raoves 
fonner senior U.S. intelligence offi- tSSt^SSSSlWaSl 


account or Mr. Shevchenko’s „ 
a spy in New York from the au- 
tumn of 1975 until April 1978, 
when he announced that he had 
refused an order from Moscow to 
return home and would remain in 
the United Stales. 

At the time, there were uncon- 
firmed reports that Mr. Shev- 


chenko bad secretly been working 
■for American intelligence dt " 
the latter part of his five-year 
as undersecretary-general for o 


etly been ^ 
... — mtdligence during 
the latter part of his five-year term 



Reagan Offers 
Budget in 'Spirit 
Of Compromise’ 


The Associated Press 

WASHINGTON — President 
Ronald Reagan, formally present- 
ing his 5973.7-b ilHn n budget for 
die 1986 fiscal year, offered Mon- 
day to work with a recalcitrant 

Congress “in a spirit of compro- 
mise and cooperation.” 

leaders of both 


respects no boundaries and knows 
no limits.” 

“The defense of our nation,” he 
said, “is the one budget item that 
cannot be dictated solely by do- 
mestic considerations. Despite se- 
vere constraints on our budget, we 
most respond to the unprecedented 
military buildup of the Soviet 

1 t— .v- 1 — . , 


v-uugressionai readers of both “““ary ouuanp or ine soviet 
parties have insisted for weeks that Union — the largest military bu3d- 

further cuts in HnmKii. mvu-™., UD in world hiernru ” 




Technology Bandit 
Led Ring for Russia 


t >b Fitchctt 

T mc/v International Herald Tribune 

LUBECK, West Germany — When Richard Mueller eluded a 

14 “"ff* * 8P ' West Gamaa ° mdals 

nought all they had missed was a businessman who 
smuggling electronics to the Soviet Union. specialized m 

AffiS hcyODd West Gennany-to South 

^ Umtcd States Panama. Austria, Britain, 

*“ rw ? le ? “ al ™sP“ of 


• . -> o — j for polit- 

ical and Security Council affaire. 
His job was the second-highest UN 
avfl service post, jnst under that rf 
the secretary-general 
. Mr. Shevchenko's book has pro- 
vided the first confirmation of 
those espionage activities, which, 
by his account, were suggested by 
American intelligence officials af- 
ter Mr. Shevchenko initially ap- 
proached a U.S. diplomat at the 
United Nations in 1975 and indi- 
cated be wanted to defect 
Besides describing some of the 
secrets he passed, the book details 
many clandestine activities — 
meetings in safe houses, microfilm 
hidden in razors, and the pretenses 


Swiss Truckers Block Borders in Protest Over Tolfe 

and West Germany. France has introduced tolls on Swiss drives West G^JELTSl 


further cuts in domestic 
already trimmed during Mr. Rea- 
gan’s first term, would be difficult 
to enact without restraint in de- 
fense prog rams 

The new budget calls for a $30- 
biOion increase in defense spend- 
ing, while domestic spending 
would be cut nearly $40 bulion. 

The budget recommends sharp 


up in world history.’ 

“I don’t think I’ve ever submit- 
ted a budget that wasn't controver- 
sial, and I’m sure this one will be no 


The U-S. budget touches fals- 
ifies’ daily fives. Page 3. 

Hie dollar rose to records Mon- 
day against the French franc and 


icoommcmis snaxp «ay against me french franc and 
reductions m mass transit, housing the fira. Gold prices fdLPfc&e 7. 
and student aid; an end to the reve- ^ 


Europeans Holding Emergency Talks 
On Combating AntirNATO Terrorism 


nue-sharing program that turns 
fedoal tax dollars back to slate and 

local governments; termination of 
the federal subsidy of the Amtrak 
rail -passenger system, and a 5-per- 
cent pay cut for all federal dviWn 
workers. 


excqption,” Mr. Reagan said. 
“Nevertheless I believe it’s possi- 
ble, working together in a spirit of 
compromise and cooperation, we 
can bring our budget under control 
without damaging our economy or 
e ndang ering our national security” 
Earlier, Republican and Demo- 


p ffiuaia was revealea a 

Swell mdnstnal espionage and posaWy even a Soviet spy. 

^r^t Geonan court documents show that the MndDer network. 




j, . — ~ — — * auvw uuu. luc ftiueuer network. 

Wore it ^ dismantled and some of its members jailed last year, 
supplied the Soviet Union with dozens of powerful Unmade coro- 


^ - -UJ "UN 


JV'. 

T’X-r 


Hi^i-Tedi Smuggling: 


r: rt n r 


First of two articles. 


and nncertainties of raying. 

the aat 


It also describe; the a gnniTtfig 


fears of exposure and the” bif«w 
s that led 


j:: Ti 


jr\UBB 


- ■ ' 
sons ' 




•****': J 
vs >>;-•” 






nncnxiips 

And Mr. MueUer’s oraanization, investigators say, was involved in 
militaiy espionage m West Germany that may have betrayed critical 
data about the new European fighter. Tornado. The plane is a 

ELS* We ^ Gcn “ a » ItaKan and British air^ foroes now and 
into tne 1990s. 

WeO-placed Swedish and French sources say that classified d»«a . 
sto len from the West German company Messerschmitt- 
Boiiow-BI otm, ^s found on WMnputer times in the possession of Mr. 
Mudler s Swedish associate, SvotOIaf Haakansson. MBB played a 
leading role ra the planning and construction of Tornado. 

The e n n tinnino nrrvwc nf 


pressures that led him to heavy 
d rinkin g and a relationship with a 
woman who said she was paid by 
American intelligence officials — 
the same pressures that drove his 
wife to commit suicide in Moscow 
after his defection. 

For the nearly seven years since 
his defection, Mr. Shevchenko, 54, 
has been livmg quietly in the Wash- 
ington area. He remarried five 
years ago. 

In the Soviet-American talks on 
a second strategic arms agreement, 
Mr. Shevchenko said, he provided 
advance information on So ‘ 
sitions. He also said that TO ,.„ 
leaders believed the United Stales 
was ahead in these arms and that 
they wanted to use the tal ks to slow 
down the momentum of American 
technology. 

In other areas, Mr. Shevchenko 
supphed information on Soviet in- 
tentions in Angola and the Horn erf 

Africa Ha roj ,1 v_ •• 


'"TT HemU T ^ me ^strayed belonging to West 
rAiuA — western officials are Oennan pflois tiamine near Us- 

herfding a sales of emergency >«iir« *““ * ■ - 

on how to combat a new wave of 

hrrramm in Europe described as an a uiu ui npm zj t saia n pimifwi 
anu-NATO campaign," diplo- tke bombs and that earlier it had 
mats said Monday. fired mortars at NATO ships in 

A”® * meeting of European po- Lisbon’s harbor. "7" Mr. t 

hce officials in Brussels anFrioa^ Later on Friday, two members of ’ U ^G- 

inienor mimsters in Europe^ On Red Army ftdkanSS cK 

community countries are consider- Erast Smmexmann, an industriaJ- 
mga special meetinc to rim'Hp mK. ist who hnuic vm .. 


S? mteMngnss^ladasccnd,. 

gM, had-bound, signed copS amaBB 01 "» WW 

of his budget proposaL pi^ai. 

When the president was asked if 

intoliMted. Officials in ^ af Doleof iSSeiSd- 

five JimWright of TexaMhe leader majonty Rqpubbcans m 

with «r •>» — — — Democrats in the 


* «^uuix tut DUl 

there is no sign, dqdmnats said, 
that Irish terrorists or other 


. suggest- 

variation thereof” 

could be expected. 

Mr. Reagan repeated the phrase, 

Iding: “It just depends upon how 
oterrorism." oora.we a!J °°mt" 

vwiuiuuaaicujiisuier- wbi z-uumoinann, an mdustrial- j Riffit now, TD settle for a tie.” 

mg a special meeting to decide anti- ist who heads ^TGermany^ widSw£^&SSfif. a ^ Rodent ^aid. nicroratle ’ 

^ «,d Sfi.™ 11 “ m M r . 

SPIOM i in . 1* nn« , 1^ officii mnnuinthnt the ^onTmSrL^S 

threat is much smaller now. “Ter- ^ Mr. ing,” he said. “When tWspeakof 

remsm has not been finish ed, but it Kea ^ n at ^ficssed more than 100 Arinlriiig government, they don’t 
*o longer has thHnotmoul thiTK^S^asTp^of 

strength it had in the 1970s,” said rankin « minonty mem-' goveromenL" ^ 

Friedrich Zunmermann, Wet Ger- ■** 

many’s interior minister, on Fri- 


^ JO lu Li ava west 

Gapiany cm Tuesday for talks on _ 

th V s ?? e : _ _ ^™ ex P loaOT 10 * barnear a 

A togh-rankhig official of the NATO base in Greece. A previous- 
Ministry and a J? unknown group, the National 
west oennan industrialist whostf nrant, said it was responsible, 
company was involved in major Direct Action and the Red Army 

military contracts have been assas- Faction have said that they are 

anated in the past two weeks. At working together. They are thought 

the same fin«» in k. di. - TTrv" 


ijority __ _ 

the Senate. “He says, TJon’t touch 
Social Security. Don’t touch de- 
fense. Don’t raise taxes. And you 
can’t touch interest on tire debt.’ 
That doesn’t leave a peat deal 

“Those of us in the Congress 
have to maybe look beyond some 
of the president's promises of the 
campaign,” Mr. Dole added. 

Mr. Wright said the proposed 
budget shows “a blind spot on the 
part of Mr. Reagan” and Defense 
Secretary Caspar W. Weinberger. 
“When they speak of spending, 
they don’t mean militaiy spend- 

■nn " k, unn.. -i f r . 


hXXS: bra aumd a North ffoap, the RgTdug CtemS ... 


• w <r ■’ -°- 
■ - 

*■*=. - 




UiyT 


West Ge rman 

gets. ‘ ~ Z" '“V 6 oracuus nave criticized France for 

^Officials are divided in assessing mJSK ta ISK 

umini m >(,'ir«w>< T-.J Ttniv’c Rmt Rnno/ta, — i tion, direct or indirect, to terrorists 

Italy’s Red Brigades also appear guilty of bloodshed.” 


-i-uj/ii aunjug IGlIUllSL 

-——a — : — . — i — & xwmum>,uwi ui luniauo. i:_j •_ i ■ „ r — : — groups m diffCTent countries. Intd- 

Tne con touring process of dismantling »fr» Muffler netnmk hieh su^eamromation on Soviet in- ligence-sharing on terrorists bv 

lighte the stepped-up cooperation ^mg wSSI^S £ i 5SV ll t <to ? on,flf E“rope4 

against technology smuggling. S ?" 4 ^ been weakToffidXsaid. indirattoR 

wanting both as allies, and only 
after war started did Moscow reluc- 
. tantly ride with Ethiopia. 

Mr. Shevchenko said Fidel Cas- 


— r luuiumj UdCiir 

bers of House and Senate commix- 
tees at a budget briefing. 

The president’s statement repre- 
sented a tough defense of his pro- 
posaL 

Mr. Reagan said: “If we lose the 
budget battle — if we allow all the 
lessons of all the decades of un- 
checked government spending to 
go u n heeded — then I believe we’ll 
consign ourselves and oar children 
to the tyranny of a government that 


Both men, who appeared on a 
television interview program Sun- 
day, said they believed Congress 
would approve cuts in a variety of 
domestic programs, but not to the 
extent that Mr. Reagan has pro- 
posed. 

They also said that Congress 
would be more likely go along with 
a 3- percent increase for mili tary 
appropriations, after allowing for 
( C o ntinued on Plage 2, CoL I) 


i adminis- 
• European 


* 7 “ jj q uimmji measure lmnrr 

discussion in the current meetings. 

It, wIihI si I ^ — ... ■ j _ — 


(U* 


-N 





-- - or- — — — “j b more equipment — 

for example, personal computers and telephone swi tching gear — to 
the restricted list of COCOM, the committee of NATO countries and 
Japan that supervises Western exports to Gxnmunist countries. 

This week, the first test looms for this fragile policy consensus as 
COCOM convenes on Wednesday in Paris to renew the new lists. 

Informally, officers freon customs and intelligence agencies also 
will converge on Paris to discuss their efforts to improve enforcement, 
a campaign in which the Mueller network is the biggest catch so far. 

Mueller case. 


In what diplomats said was' a 
at be suspects the Sovi- 




Via* UU WUU IU UIXIUA UIU1 C4JUJ 

a campaign in which the Mueller network u uic UI 
I Western intelligence officials decline to discuss me Mueuer case, 
I but U.S. Customs puts his name high on its secret list of most-wanted 
technology bandits. The “most toxic of all" is how a U.S. official 
privately described him. 

Mr. Mueller, 43, a German native, is “not just another shady broker 
supplying bits erf equipment, be is the biggest smuggler, who put 
together whole sophisticated systems” for Soviet customers, says 
Herrmann Stahmer, a West German public prosecutor. 

Mr. Stahmer, prosecutor in the northern dry of Lflbeck, coordinat- 
ed a task force of West German, U^ British and Swedish agents that 
investigated Mr. Mueller's operations and brought to trial nine of his 
accomplices. Mr. Mncllcr and an undisclosed number of other sus- 
pects are still at large, but all nine who stood trial were convicted. 

Three received short prison sentences — a break with West German 
pattern in which technology smugglers usually are simply fined — and 
were released last month. 

Mr. Mueller’s accomplices are cautious in discussing (heir former 
employer, but in interviews, several emphasized his ability to manipu- 
late Western businessmen and offidals. 

For example, they contend that major European companies have 
(Continued on Page 2, CoL 3) 


tro initia t ed the idea of sending 
Cuban troops to Angola, and that 
since the United States was still 
reeling from the Vietnam experi- 
ence the Soviet Union approved 
the idea, thinking that the rub of a 
major-power confrontation were 
minimal. 

Among other things, Mr. Shev- 
chenko told the Americans that the 
Politburo always accepted Soviet 
Foreign Ministry recommenda- 
tions on foreign policy, and that 

Mr. GTODJVka. undo- Rrerhnpv 


dear hint lhal __ 

et Union of providing some mea- 
sure of support for the at ta c k s 
against NATO targets. President 
Francois Mitterrand of France said 
Saturday that the “terrorists were, 
unconsaousfy or not, implicated in 
an international strategic struggle." 

The anti-NATO slant in the ter- 
rorist campaign follows huge dem- 
onstrations in Western Europe a 
year ago against NATO’s deploy- 
ment of new nuclear migafcc 


’Risky’ Budget Targets the Middle Class 

By Bernard Wdnraub self as a diannwin nF rfo wmb ^ .j « 


By Bernard Weinraub 

New York Timet Service 

WASHINGTON — President Ronald Rea- 
gan, seeking to Capitalize on his ejection man- 
date, his personal popularity and a vigorous- 
economy, is establishing the framework for his 
second term by proposing a politically risky 
budget that strikes heavily for the first time ax 
numerous programs affecting the middle ri»pf 

“The hour of decision has arrived," said a key 


At smneporat,” he said, “the question must “The stark choice,” this official «hw ^ 
^ P^tira^ogrofling going we going to make; once and for all, fundamental 
to stop. At seme point, the collective demands changes in the structure of government and its 
isurv nf nil (hr cnm«l nsnonsihnitiK and ih* mnn... . — i .i_- 


*.i ... E”®-- —— "i m in “O — — — —Hvmifc ui eum iiiiim i an n iis 

upon the paphe Treasury of all the special responsibilities and the various good things we 
ability support but don't absolutely need.” 

All.~ ■ J - .... .. _ 


interests combined exceed the public's 
and willingness to pay." 


TT JJ ‘-‘"""r ~ *7 J ; Other officials indinif<v | t ha t U. Reacan In 

, pulling his budget, would take aim aT^Sroial 

a politician to utter is a simple, fiat ‘No.’ The rat crests” and lobbyists who seek to retain fed- 

" eral aid for programs lhal the president views as 

unnecessary. 



IVEWS ANALYSIS 


adviser 
wants to 


***** wi w ^Li mu m 3 fllllwvcij NHIII H, JRjCy 

ent of new nuclear missiles.* " Wlnte House official. Another presidential aiA* 

France, which has not previously ^d, “In a broad sense this budget is a reflection _ ___ _ 

suffered from leftist terrorism by “ ^ nraepinnee on our part that the Republi- — — “ — - — “Very clearly,” said a 

Fr^ groups, has mowed closer to ran Phrty is acting like a majority parly because patience of the American people has been dose 10 **¥ White House > “Reagan wants to 
NATO recauly: Mr. Mitterrand ^ re no* taking on schhc pretty powerful con- stretched as far as it wflj go. Ihev want action- reaiTa ?S c ^ fedaal landscape in the second 
~ J ' shtnents, many of them our own. they have jl” O0 * a dramatic document” 

_ Ranking a dminis tration offidals admowl- On one Ievd. the main Whitt* Hr»*o- or.ni .. ^ ^ fi 1 ® 1 ^ much of Mr. Reagan’s 

bfr. Sbe^rakcT^d 'thaTsoviet edge that toe budgets proposals are far more piece together a padcage ^ Sr0wXh 

fcadm warned in^irf Jj™“™>f<>>wW«lGemuniym than those of 1981. incrs^Sry^tog. yaSa ! S? re ^ mIa ^ “'o ^ 

confrontations with the United .. when Mr. Reagan began his first term seeking to al budget ddidfririthtwt raisina taxes. Th** advisor said. In the second term, m 

States and ifaathe hdiewd thev did r Meanwhile, police are looking reduce inflation and to cut government spend- budget proposes the lowcst^atf-^nf «vndino < ?^ cr i 10 Z 01- defense, he actually intends to 

SSSd 1 tSSSlSaS! ^ ^ , T^de^ned t ol^ih gr^ S n tSr° f T ° Mr. 

• - recent ooeranonc Mitrnef «*»>•«»•' cme*A* Lhat the reducticais in the newest bud- annual deficits to $144,4 billi on by 1988. Md 

nnll li niuiav ” ow s trying to 


t 3 Countries 


against the United States. related taree^^^wT* 

SflMsaB saaaSSsB 

overruled the imhtary on the issue, Army Faction. ^ 

831 In Portugal on Friday, bombs 




v " y -C' 

V,' 

• ■*""% y 


Linked to Spy 
Case in India 


’ t 



New York Tima Service 

NEW DELHI — A key figure in 
an espionage network recently un- 
covered by Indian intclHgence offi- 
cials was quoted Monday as teQing 
a New Dcshi magistrate that he haa 
passed on government secrets to 
diplomats from Fast Germany, Po- 
‘laud and France. 

[Also on Monday, Prime Minis- 
ter Rajiv Gandhi’s government in- 
structed two top officials to go on 
long leave and an inquiry was or- 
tyjered into the disclosure of classi- 
fied documents from their depart- 
ments, The Associated Press 
reported. 

[Coomar Narain, the business- 
man Knltwl with the sot scandal, in 
court identified the Polish _ diplo- 
mat to whom he had supplied in- 
formation as Jan Baberka, The AP 
said. Mr. Haberka returned to 
Warsaw last August after serving as 

(Continued on Page 2, CoL 7) 



— — ivuuM4viu ui uiw u&wrai uuur 

get wul faD hardest on businessmen, fannexs 
and middle-income families. 

“We're going after those programs,” said a 
White House officiaL “because that’s all that’s 
left.” 

Mr. Reagan, in his budget message to Con- 
gress, adopted a populist tone, portraying him- 


agri- 


On another level, however, the budget seeks poll it away ’ 
to make a clear statement about the Reagan The proposed cuts ranee from slashi 
admraisuatton s muatuoas. In contrast, the ad- cultural price supports to killina the SmaffBusi- 
n^rstratim s goals for iK fiiat lam were neva ness Artonistrauon. reducing funds for tht> 
quite defined, or perhaps even blurred. Export-Import 

A smior White House official termed the senger rail subsidies. OffidalsOTi^eX/ihe 
prospects for tiie changes now sought by Mr. (Coodnucd oo 


Real Cowboys 


ie Guitars, It’s the First-Evear Rh yming Rnmulnp 

MeGany ‘TVotUdn’t want no naked pictures," muttered an 

Lie Angeles Tima Service old cowboy at the mbw table. 

About 100 poetry readers and 400 friends and fans 
sad and ivjdnwvr fn vntM kor^ «l. j.».. «■ « 


vmuiouu, wu 

pack trains in the Redoes. Bora dock 10 tne frontier and proving 

“Tve been in quite a few cow camps and around a J™ America s century-old love affair with the cow- 
1 of campfires,’’ be said, “and I canVhardly reman- “y- ™ a.symbol of national character and a heroic 

la 1 m m 1 — Dfict 1C QflUfl Mfi «bJI 


“ 5“**v u IVVT ww ■-""■If? ouu dlUUUU a I _ _ — “’J 

lot of campfires,’’ be said, “and I can f t hardly renuan- ***' “ of a 

ba anybody who ever played a guitar. But there’s ^ abve md wefl. 
almost always sevtaal guj?s wo know some poems and tney t rou giit poems written by themselves, or par- 

stones, and they take turns reciting them.” eats a nd grandparents. Or they recited works by poets 

There were cowboys by the score; and a few cowgiris ^ lbem dead for 

too, at the First Cowboy Poetry Gathering, athree- tJ ^° t ^wntmg today, 
day session that ended Sunday in Elko, a liny town in in ^ y ^ P 0 ^ , about and 

northeast Nevada that boasts it is “the last real cow v ]^ Sa ’ 1 about cherished dogs or 

town in the West.” youths before the plains were fenced. 

Cowboys of all types, from educated omdooxsmen hi^S^l^^^ bc ? ut y of . !he l 8nd » lbe 
with advanced university degrees to drifters in flashv mountam wmtpre, about dirty jobs tike 

outfits, turned the towns streets into a bobbing sea of 

cowboy hats. Whatever else they wear, cowbqj* never . fedc ral bureau- 

lake cti their hats, the crucial badges of the Wester- wmdmills and pickup trades and 

ness they celebrate. r* rfT™ manure - 

When an onlooker tried to ulce a snapshot of the lie ccnLu^, I> S^i^^ ) b iJ,' inmmSifatetiKSjM 
gupp in a Basque raiauract Friday oighToiie cow- of modem The^ 

r r , ’vhw. (Continued on Page 2, CoL 5) 


lid 


CAMORRA IN THE DOCK - The trial began Monday of 252 
wor^ forato Camorra, tte Naples crime netS^ The 158 def 
on the Mvim Mli tn20 sted cages in a sports-field-sized courtroom bnfltSea 
prison. Defendants inchide lawyers, entertainers, businessmen, a priest and a nun. 


INSIDE 


■ British miners abandoned 
their 47-week strike in record 
numbers. 


m 


■ The_ w _ 

the United Stales worries some 
safety groups. 


I ‘Siam Lobby’ tries to change 
what It sees as Thailand’s tat 


tered image. 


■ Hie riat to Washington of 
Fra nce's new foreign 
has beat given urgency by re- 
cent terrorism. Page 5. 


■ Darnel Ortega Saavedra said 
that the Unhed States is consid- 
ering a “militaiy solution” in 
Nicaragua. Pages. 


BUSINESS/FINANCE 

3 Unemployment in West Ger- 
maay surged ahead during Jan- 
Sge7. 


■ Sotheby’s is again making 
nioney, the art auctioneer's new 
American owner said. Page 7. 


HTB" 7 'TflP‘j o rt o « hao 



Page 2 


INTERNATIONAL HERALD TBJBUflE, TUESDAY, FEBRUARY 5, 1985 


2,300 U.K. Miners 


Abandon Strike 


The Associated Press 

LONDON — British miners 
abandoned their strike in record 
numbers Monday following the 
collapse of negotiations to end the 
47-wcek-dd walkout, the National 
Coal Board said. 

The National Union of 
Mineworkers president, Arthur 
Scareill, raised hopes that there 
would be talks to raid the strike by 
saying that the board had sent him 
“probably the most conciliatory 
letter we have had in months." 

But he gave no details, and a 
board spokesman said he had uo 
knowledge of the letter to which 
Mr. Scargill was referring. 

The board said that 2318 more 
miners turned up for the morning 
and afternoon shifts, 36 more than 
the previous record of 2,282 on 
Nov. 19. But Mr. Scargill accused 
the board of “mixing figures like 
people mix cocktails. 

Michael Eaton, the board's chief 
spokesman, said: “The men are ex- 
pressing their view about the strike 
by going back to work because it is 
the only way available to express to 
the union's leadership that they 
want the strike over and a negotiat- 
ed settlement. " 

Denis Murphy, the union presi- 
dent in the county of Northumber- 
land, said that he was disappointed 
at the large turnout. 

“I thought the coal board nation- 
ally would have been prepared to 
negotiate rather than see people go 
back to work without an honorable 
settlement," be said. 

Prime Minister Margaret 
Thatcher, for whom the strike is the 
toughest challenge by a onion since 
she was elected in 1979, has resisted 
any compromise. 

On Friday, after a seventh round 
of talks collapsed, she said negotia- 


tions were futile unless the union 
agreed to discuss closing uneco- 
nomic pits, the issue over which it 
called the strike last March. 

Mr. Scargill signaled his eager- 
ness for negotiations Monday by 
going to the Advisory, Conciliation 
and Arbitration Service, an inde- 
pendent strike-mediating body. 
The service said it would inform 
the coal board of Mr. Scargfll's of- 
fer. 

The government fears that if it 
agrees to negotiate, strikers will 
stay away from the pits in hope of a 
settlement 

A board official, who asked not 
to be identified, said that when 
negotiations were planned last 
week, “the return to work slowed 
down because the men had a sniff 
of negotiations in their nostrils." 

Industry sources quoted by The 
Standard, a daily newspaper, said 
that if the board continued its pre- 
sent strategy, it could get a majority 
of the union's 187,300 members 
back to work by mid-February and, 
in effect, defeat the strike by attri- 
tion. 

The number that returned Mon- 
day brought the total of working 

min ers to more than 81,000, the 

board said. 

But Mr. Scargill contested the 
figures. He claimed that within one 
hair Monday morning the board's 
estimated number of mine rs going 
back to work jumped from 900 to 
2,000. These figures, he said, “make 
nonsense of the board's credibil- 
ity." 

He gave no figures of his own, 
but last week he was saving that 
140,000 of the union's members 
were still on strike, including 90 
percent of those who walked off 
their jobs at the start of the shut- 
down. 



PHILIPPINE RIOT — Police armed with guns and 
water cannon attacked more than 200 students and 


The AbocmmcI fteo 

residents of a Manila suburb Monday. The government 
ordered tire demolition of squatters' houses in the area. 


WORLD BRIEFS 


7 •-.?? I 

- i . -,t ti i ' 



Greek Tanker Hit by Iraqi Missile 

• KUWAIT (Combined Dispatches) — A missile fired by an Iraqi 
warplane damaged a Greek oil tanker Monday near Iran s mam ofl export 


facility in the Gulf, it was reported here. 

Greek officials in Athens confirmed that the Greek tanka FairshqH 
had been seriously damaged in an attack while ' 

Island ofl ter minal . None of the 26 crew members aboard the 1 32,000-tan 


la The attack followed a week of heavy land fighting in the Gulf WH-The- 
Iraqi News Agency, in a report monitored Monday m Kuwait, quoted an 
Iraqi general as saying that his brigade bad destroyed two Iranian army 
ums in a battle last week, killing more than 1300 men. He Kuddje 
battlefield, in the central front, was “tittered with Iranian dead soldm" 
Meanwhile, there were reports that a fresh diplomatic effort was under 
wav to end the war. In Kuwait, the newspaper Al-Seyassah said Sunday 
that France, Saudi Arabia and Algeria were working on a pian for talk 
with the support of the six-nation Gulf Cooperation CounoL (UPI, AFP) 


& 


ft 




Mr- 


Bui • :.*■ 




v L ^-r- 


Ulster Nationalist Plans to Meet IRA 


Technology Bandit Headed Network for Russians 


Reagan Is Pressing Hard 
For 'Fundamental Changes’ 


(Continued from Page 1) 
proposals would have been unlike- 
ly without Mr. Reagan’s landslide 
victory last year, his personal popu- 
larity, solid economic growth cou- 
pled with annual inflation of less 
, than 4 percent, and the apparent 
disarray in the Democratic Party. 

-Although Democrats would cer- 
- tainly disagree, a key While House 
official said, “The budget, whether 
consciously or otherwise, turns out 
to underscore the disarray and in 
some respects even the irrelevance 
of the Democrats in the process, if 
the Republicans get their act to- 
gether." 

Specifically, if the Republican 
leadership is the Senate works out 
an agreement with the president 
about the budget and Mr. Reagan 
leads the selling of the budget to 
the public, White House officials 
believe, as one aide said, “There’s 
nothing left fa- the Democrats ex- 
cept to tinker at the margins " 

The aide added: “It's realign- 
ment time. To the extent that 
there's a debate on defense cuts, it’s 
within the Republican Party. The 
debate is taking place within the 


Republican Senate more passion- 
y, than it is 


the 


ately, more realistically, 
between the Democrats and 
Republicans.'' 

Nonetheless, several White 
House officials remain uneasy 
about the political risks. Unlike the 
1981 budget, in which Mr. Reagan 
obtained most of the savings he 
wanted in the welfare and food 
stamp programs, this budget “goes 
right to the heart of the political 
rhythm of Congress, that's where 
Congress lives," an official said. 

“Yes, we are going after middle- 
class programs and subsidies," the 
official said. "We are going after 
regional subsidies, various eco- 
nomic interest group subsidies, 
middle-class benefits. Am Irak’s a 
good middle-class benefit — there 
aren't many poor people who ride 
around on that." 


Strategically, David A Stock- 
man, director of the Office of Man- 
agement and Budget, with Mr. 
Reagan's blessing, rejected some 
White House officials’ suggestions 
of further cuts in social programs 
that largely affect the poor. 

“The view is that making these 
cots would have provoked the ‘fair- 
ness' issue," a White House aide 
said. “There would have been out- 
cry, and under cover of those politi- 
cal cries the more powerful busi- 
ness and middle-class interests 
would have gained protection. 
That’s out. They can't say in this 
one that we’re picking at the poor." 

Mr. Stockman, the main archi- 
tect of the budget, is sanguine 
about its prospects in Congress. He 
said the other day that many in 
Congress have few options but to 
support the administration, consid- 
ering the overwhelming rejection 
by the voters of Walter F. Mon- 
dale, the Democratic candidate for 
president, who called for a Lax in- 
crease to reduce the deficit. Mr. 
Reagan opposes a tax increase. 

“There’s an awful lot of people 
in Congress," Mr. Stockman said, 
“who are foursquare behind the 
president and the administration's 
position on taxes, but don’t want to 
accept the corollary, which is, we’re 
gong to have to make major, diffi- 
cult, dramatic spending cuts to 
keep the tax burden down and tbe 
deficit under control. 

“And they want it both ways. 
That's the way the system is — give 
them whai they want, but don’t ask 
than to pay for it. 

“What’s happening," be went 
on, is that “about SO years of that is 
coming to a head as we cope with 
this once-in-four-years major look 
at the budget. And ibe/re all 
squirming around and looking for 
escape hatches. But (here aren't 
any. They’re looking for magic po- 
tions to make it go away without 
making any choices. There ore no 
magic potions." 


(Confirmed from Page 1) 
used Mr. Mueller’s services to sup- 
ply embargoed equipment in con- 
junction with industrial contracts 
in the Soviet Union. 

In Sweden, the engineering firm 
Asea, the country's third largest 
company, is under investigation by 
the U.S. Commerce Department 
following allegations that the 
Mueller organization smuggled 
computers to Sweden and then to 
the Soviet Union for a steel-rolling 
mill that Asea built there. 

Asea has declined to comment 
directly on the allegations because, 
a spokesman said, a former Asea 
executive “is about to gp on trial in 
connection with this deal” 

~ Western companies that deal 
with Mr. Mueller, aides said, be- 
lieve they are using Mr. Mueller. 

But, the aides said, he benefits from 
their involvement to try to obtain 
high-level political protection for 
himself and his accomplices while 
they assemble even more sophisti- 
cated technology for the Soviet mil- 
itary. 

Mr. Mueller, his former employ- 
ees say, also was adept at duping 
officials: For example, in South Af- 
rica, to which all western govern- 
ments and the Soviet Union have 
embargoed arms sales, Mr. Mueller 
ingratiated himself with officials — 
and made handsome profits — by 
smuggling in military equi pmen t 

In circumventing the embargo 
on South Africa/hehad covert help 
from the Soviet Union, a former 
Mueller employee said, in order to 
help consolidate his position in 
South Africa, an important base 
for pan of his pro-Soviet opera- 
tions. 

“Wherever there is an embargo, 
there is business fa Mr. Mueller," 


wafer-steppers built by the U.S. 
company David Mann and illegally 
obtained by Mr. Mueller through 
front companies — was delivered 
to computer-design institutes in 
Leningrad and outside Moscow, 
Ldbeck court records show. 

The total value of the shipments 
completed by Mr. Mueller is esti- 
mated in the court records as 38 
million Deutsche marks (about 518 
million). Mueller accomplices say 
that Soviet customers paid roughly 
three times the market value. Swiss 
banks, which disclosed his 
counts to Mr. Stahmer, 
largo- sums in Mr. Mueller’s pos- 
session. exceeding S 100 milli on. 

With ample funds and Soviet 
help, officials say, Mr. Mueller con- 
tinues to travel in the West after 
plastic surgery. An East European 
government, which officials de- 
clined to name, apparently has sup- 


ac- 

even 


against technology exports to the 
Soviet Union, used lax offenses, 
not smuggling violations, to jail 
Mr. Haakansson. 

Asea, however, is “discussing" 
the compan/s role in the incident 
with UiL officials, the spokesman 
confirmed. Asea. Europe's leading 
robot exporter, is heavily depen- 
dent on U.S. technology. 

Asked about corporate involve- 
ment, Mr. Brinkebom, who left 
Asea. at about the time when the 
Mueller case broke in late 1 983, has 
only made pne public comment: 
“Ask the head of Asea.” 


officials visited Sweden to discuss 
the Tornado and other classified 
data on the tapes. 

Both Swedish and West German 
officials, together with a spokes- 
man for the Panavia industrial con- 
sortium that built Tornado, said 
they could not confirm that the 
tapes concerned Tornado. But a 
highly placed French source said 
tins week that the computer pro- 
grams contained “construction and 
operational data" on Tornado that 


LONDON (NYT) — John Hume, the leafing Northern Ireland 
politician from a nationalist party that rejects violence, has said he plans 
to meet leaders of the Provisional Irish Republican Army despite oppose, 
tion from the Irish prime minister and the British authorities. 

Mr. Hume, leader of the Social Democratic and Labor Party, said on 
Irish radio Sunday that he wanted to talk to the Army Council of the IRA 
“to say to them dearly I want them to end their campaign of violence.” 
The IRA said on Friday that it was wflfing to meet Mr. Hume. 

Prime Minister Garret FitzGerald, on the same program, said he 
recognized Mr. Hume’s “courage and conviction,” but that any such- 
meeting would be broken up if it occurred in Ireland. Britain's secretary 
of state for Northern Ireland, Douglas Hurd, said that such a meeting, 
would give credence to the idea that the IRA was a valid political force. ’ 


plied him with a diplomatic pass- 
"" S. Customs agent 


port, winch a UJ>. 
called a “license to smuggle." 

Even though Mr. Mueller is 
sought by police and intelligence 
services from the United States, 
Britain and West Germany, he has 
been traced last year to West Ger- 


many, the Netherlands and Britain, 
an official acknowledged. 


said Manfred Schroeder, a comput- 
1 for him 


Reagan Presents New Budget 

that spending would 

trimmed. 


(Continued from Page 1) 
inflation, rather than the 5.9 per- 
cent proposed by Mr. Reagan. 

On Monday, members of the 
Senate Armed Services Committee 
told Mr. Weinberger that Congress 
was sure to reduce the spending 
growth proposed in the Pentagon’s 
5277.5-billion budget. 

Senator after senator from both 
the Democratic and Republican 
parties made dear they believed the 
only questions about defense re- 
ductions were how much and 
where. None were heard to predict 


not be 


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Congress was expected to begin 
work on the president’s budget al- 
most immediately. 

The Senate Budget Committee 
scheduled hearings beginning 
Tuesday, and Republican Senate 
leaders predicted floor action on 
the overall package as early as 
March. 

Senate Republicans had hoped 
to assemble their own deficit-re- 
duction plan before Mr. Reagan’s 
budget was submitted. Although 
they missed their deadline, Mr. 
Dole indicated he would keep 
on (he plan, calling for 
deeper long-range cuts. 

Meanwhile, the House of Repre- 
sentatives, under Democratic con- 
trol planned a series of hearings on 
the budget in several cities for later 
this month. 

If adopted by Congress in any- 
thing approaching its current form 

— an unlikely prospect in view of 
congressional performance in the 


er technician who worked 
for three years. “And tbe UJS. gov- 
ernment provides free advertising 
by putting his name and his compa- 
nies' addresses on the Commerce 
Department denial list, which any 
savvy executive can get" 

Mr. Schroeder, 36, joined the 
Mueller organization at the end of 
1980 from Digital Equipment Cor- 
poration in West Germany. For 
three years, until his arrest and trial 
in Lubeck last year, he installed 
and repaired a series of obtained 
DEC computers for Mr. Mueller in 
the Soviet Union, South Africa, 
West Germany and Sweden — all 
of them illegally obtained because 
Mr. Mueller is on the U.S. denial 
list. 

In interviews, Mr. Schroeder, 
and other Mueller accomplices who 
refused to be quoted, acknowl- 
edged a sharp increase in the prices 
Soviet customers have been willing 
to pay for black-market advanced 
Western electronics over the last 
three years as restrictions have re- 
placed the comparative commer- 
cial freedom of the 1970s. 

Dismantling the Mueller organi- 
zation, Mr. Stahmer said, showed 
that “the system is working." The 
loss of the network, he said, is a 
major blow to Soviet industrial es- 
pionage. 

Mr. Mueller was first named as a 
trafficker in November 1983, when 
West German and Swedish cus- 
toms agents, at U.S. urging, seized 
computer shipments from Mr. 
Mueller in South Africa for the 
Soviet Union. It was a record sei- 
zure of embargoed technology. 

But it is now clear that three 
times as much equipment got 
through as was stopped, including 
at least one DEC 11/782 computer 
of the kind seized in West Germa- 
ny. A West German Defense Min- 
istry expert testified at the Lubeck 
trial that this shipment saved the 
Soviet Union five years of research 
it would have needed to develop 
comparable equipment of its own. 

The U.S.- inspired swoop none- 
thelessprevented Mr. Mueller from 
delivering aD the equipment for the 


Former associates were unwill- 
ing to say whether Mr. Mueller, a 
slight, formerly dark-haired man, 

has changed much from his (rid self. 
His employees describe him as a 
generous boys who was fond of 
relating his exploits in outwitting 
investigators. 

These days, Mr. Mueller resides 
mostly in Eastern Europe, often in 
the Metropol Hotel in East Berlin 
or in his apartment in Budapest He 
is unlikely ever again to operate 
with the impunity fie enjoyed in the 
early 1980s, when he traveled freely 
in Western Europe. Despite a U.S. 
warrant for his arrest. West Euro- 
pean governments were unwilling 
to extradite him or even to arrest 
him until he committed an offense 
on their territory. 

While mainly operating in West 
Germany and Switzerland after he 
fled the United Slates in 1975, Mr. 
Mueller quickly started consolidat- 
ing a base in South Africa, impress- 
ing influential officials there by his 
ability to puncture Western embar- 
goes, aides say. 

He started, they said, by working 


Swedish government officials, 
after several embarrassing disclo- 
sures of corporate shipments of 
sensitive technology to the Soviet 
Union, say they are working hard 
to expose any other past violations 
and to stop smug glin g . Sweden's 
own military programs depend 
heavily on obtaining U.S. technol- 
ogy, so the issue “is a major preoc- 
cupation of our diplomats," a 
Swedish parliamentarian said. 

An equally sensitive political 
problem for Sweden is posed by the 
nearly 6,000 computer programs, 
some encrypted, that were seized in 
the Haakansson investigation. 

“Mueller brought them to Haa- 
kansson. and Haakansson carefully 
hid them," according to Sigvalcl 
Falkanland, head of investigations 
for Swedish customs. Along with a 
sensitive military camera, Mr. Fal- 
kanland said, tfie tapes “were the 
only thing he did hide” during the 
six weeks between bis first interro- 
gation and the Swedish decision to 
arrest him and seize his records. 

The tapes were handed over far 
analysis to Swedish defense spe- 
cialists, who discovered highly clas- 
sified data in them about the Tor- 
nado aircraft Their findings were 
first reported by Dagens Nyheter, 
Sweden’s leading newspaper. Bo 
Anderson, the paper’s respected 
national security correspondent, 
died both Swedish defense ana- 
lysis and Swedish intelligence offi- 
cers as saying that West German 


Seoul Pledges Kim Will Not Be Jailed; 

SEOUL (Reuters) — Kim Dae Jung, a leading South Korean opposi- 
tion politician, will not be jailed when he returns to Seoul on Friday from 
two years of exile in the United States, the government said Monday./ . 

A government spokesman declined to say whether Mr. Kim, 59, wexest 
be put under house arrest to stop him from campaigning for national, 
elections Feb. 12. -He is among I5jx)litidans banned from political 
activity until 1988. when President Cnun Doo Hwan's seven-year term 
ends. . ' 

_ r Mr. Kim, who plans to travel to Seoul with a group of 20 Americans, ; 

had been stored onromputer in the said in Washington that the South Korean statement manifested “the: 
M unic h offices of Messerschmitt beginning of a reasonable attitude." He said he did not intend to takepart 
and perhaps other companies in- in the elections. But. he said, he thought his presence would give a boost 
volved in building the plane. to opposition candidates. 


U.S. customs officers acknowl- 
edge that they were involved in 
trying to match the tapes found in 
Sweden to DEC equipment in- 
stalled at Messerschmitt. 

Already last fall, the West Ger- 
man government confirmed that 
Tornado secrets were lost because 
of an East German spy. Manfred 
Rotsch. who had access to it at 
Messerschmitt. But it is unclear 
whether a link existed between Mr. 
Rotsch and Mr. Mueller. 

Hints, however, that Mr. 
Mueller's operation is suspected of 
major espionage activity came 
from officials in several countries. 

In Sweden, where Mr. Haakans- 
son is serving four years in jail for 
tax evasion, Mr. Falkanland was 
asked if he was disappointed that 
the Stockholm court had dropped 
the smuggling charges sought by 
Swedish customs. 

Not at alL he said. “Notice that 
Haakansson didn’t bother to de- 


2 Guilty of Killing India Envoy in ILK. 


BIRMINGHAM, England (Reuters) — Two Kashmiris were found 
guilty Monday of murdering an Indian diplomat. Ravin dra Mhatre, who 


was kidnapped Last year. 
A jury found Abdul F 


Raja, 28, and Mohammed Riaz, 23, guilty at the 
end of a 16-day trial in Bir mingham. They will be sentenced Thursday. 
Both pleaded not guilty. The prosecutor said that Mr. Mhatre bad beat 
killed by members of the Kashmir liberation Front, which seeks inde- 
pendence from India and Pakistan. 

Mr. Mhatre, 48, was an assistant commissioner at the Indian High 
Commission in Birmingham. He disappeared in February after leaving 
his office for home and was found shot and killed two days later in the: 
countryside. Mr. Raja, who gave a Paris address, and Mr. Riaz, a strata/ 
with an address in Leicester, En gland, were also found guilty of falsely 
imprisoning Mr. Mhatre. They denied that charge, too. 



Israeli Soldier Killed in West Bank 


RAMALLAH, Israeli-Occupied West Bank (AP) — An Israeli soldier 
was shot to death Monday in the center erf this Palestinian city, an array 
officer and hospital spokeswoman said. Israeli troops Mooted roads 
leading into Ramallah and imposed a curfew while they hunted for the 
assailant 

The soldier was shot while on duty in front af a building used by die 


stray his records during the six Isracl1 government, according to a lieutenant coland who 

weeks we left him alone,” he said. refused 10 ^ ve bis name. Die shooting followed the fireBombing of an 
“I guess he assumed we were too to™*** civiIian ' s car last week that was the first fatal attack on a Jewish 


stupid to figure out what he was 
doing." 

Investigators, he implied, are 
again working on much more than 
they are ready to acknowledge pub- 
licly. 

Tomorrow: The United Stales ami 
Europe are getting together on tight- 
ening restrictions on technology 
sales. 


settler in the West Bank in two years. 

Defense Minister Yitzhak Rabin, who was in the United States wheat 
the motorist was fatally irgured, said Monday on his return to Israel that 
the authorities “will fight any terrorist dement with full force." 


UN Panel Urged to Monitor Torture 


with accompany supplying offshore 
rms: When heti- 


oil -drilling platforms: 
copters needed to be replaced. Mr. 
Mueller managed to gel them. 

He also brought in arms, accord- 
ing to Swedish customs officials, 
who link him to munitions deliver- 
ies in 1981 and 1982 that have been 
traced to France. Swedish police 
arrested a ship broker last week in 
Stockholm in connection with 
these shipments. 

There is no proof of official col- 
lusion with Mr. Mueller in South 
Africa. But after his exposure, there 
were no arrests in South Africa. 

In September 1983. Mr. Mudier, 
after a tipoff, an associate said, 
quickly dismantled his South Afri- 
can operation and starting ship- 
ping it to Sweden by air and sea. 

Mr. Mueller himself traveled 
from West Germany to Sweden 14 
times in the next two months, 
crossing the Baltic by ferry with his 
station wagon, a route that would 
have enabled him to transport 
goods with minimal customs scruti- 
ny. 

In November, when one of his 
seaborne shipments from South 
Africa was seized in Hamburg, be 
vanished. 

As tbe West German authorities 
started their investigation, a break- 
through came in Sweden: Customs 
began investigating Mr. Mueller’s 
associate, Sven-Olof Haakansson, 
and quickly uncovered evidence 
pointing to high-level corporate 
contacts and to espionage activi- 
ties. 

Mr. Haakansson's records, lor 


’w r** 



CROWN FOR VIRGIN —Pope John Pa^Opiaceda 
crown on tile statue of the Virgin Del Carmen after he 
spoke to a crowd at an ancient Inca fortress in Cuzco, 
Peru. In Callao, he told thousands on crutches and in 
wheelchairs that man can find “pain is a treasure.'" 


GENEVA (Reuters) — The United Nations Human Rights Commis- 
sion was urged by its outgoing chairman Monday to set up a system to 
monitor use of torture against prisoners. 

Peter Kooijmans of the Netherlands said at the opening meeting of tbqj* 
commission's 1985 session that torture remained a daily occurrence- 
despite a convention to ban it adopted by the UN General Assembly in 
December. “Conventions alone are not sufficient to pul an end to this 
crime,” Mr. Kooijmans said. 


of a 

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lion's apei- 
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dfflHGBIi'- 
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regobotf - ' 
tastaxiC’. ■ 
to keep lt: 
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Trznspw? 
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Tbe commission unanimously elected a former president and foragi 


minister of Bangladesh, Abu Sayeed Chowdhuiy, 64, to succeed 
Kooijmans as chairman of its six-week session. 


For the Record 

Vietnamese troops seized a Ktaner Rouge hilltop outpost Monday in 


Cambodia after fighting in which at least one guerrilla was kalled and 
Tnai 


seven wounded, Thai military officials in Aranyaprathet said. Several 
Vietnamese were also killed or wounded. (Reuters) 

Donald T. Regan md James A. Baker 3d formally completed then 
exchange of jobs on Monday, with Mr. Regan reporting lor work as 
President Ronald Reagan's chief of staff and Mr. Baker taking charge of 
the Treasury Department. (AP) 

Mary Evans, the attorney who pleaded guilty to helping a penitentiary 

iths wi " 


• pi 

inmate escape and who spent five months with him on the run, was 
released Monday in Chattanooga, Tennessee, after serving more than lOv 
months in prison. (APyr- 





jJSS. -f 

/ f - . -- 

6 1 


Finnish troops recovered the last major pan of a stray Soviet missil e on 
Monday. A helicopter and divers hauled the main body section, a«nmed 
to contain the steering equipment, from Lake InarL (Reuters) 

Ufeya postponed for at least 24 hours on Monday the release of four 
Bntons held there for nine months, citing “unforeseen circumstances," 
the British consul in Tripoli said. (AP) 

The 48th game in tbe world chess chanipioasiiip was postponed Monday 
because new facilities for tbe match are not yet ready, a chess official said. 
The play is bong moved from the Hall of Columns to the Sport Hold in 
them Moscow. 


sou 


Ptesadent Ronald Reagan has named General Bernard W. Rogers to 
another two-year terra as commander of North Atlantic Treaty Oratmza- 
uon forces, the Pentagon said Monday. (Reuters) 


Envoys Cited in India Spying 


Real Cowboys Write Poetry 


(Continued from Page 1) 

of the kind typical of Robert Ser- 
vice or Rudyard Kipling, whose 


tor, Hal Cannon, designed to pre- 
serve and encourage an American 
folk an that has persisted for a 


planned Soviet prweet: a facility example, showed he received a pay- om<loor ’ ^ventnre-orienied poet- «ntury in regional isolation, 
both For designing and -mamifac- f™ 01 “ 1®*® of 3 million Swedish 1 7 a popular influence on Lhe , Cowboy 


hiring advanced microchips to mil- 
itary standards, according to Swed- 
ish and West German offidals. 

Sophisticated microchips are 
small computers that are critical 
components in modem 


kronor (then worth about 
5750,000) in Switzerland from the 
Asea corporation. The funds, 
Swedish offidals say, were part of 
an arrangement whereby Mr. Haa- 


form. 

For example, these lines from 
Dick GibfortTs “The Last Bucka- 
roo": 



steed 


growth 

year’s 5959.1-billion budget of only 
U percent, representing payment 
of interest on the national debt 
alone. 


The night is gone. 


plicated circuitry laid on silicon Umon. 

wafers — design equipment that C onfirmin g the payment to Mr. . , - , - 
Swedish offidals sav thev inter- Haakansson, an Asea spokesman . 

cepted. ‘ ' “ :J ‘ u ' J •’ ■ * ■ 


But chip-making equipment — 



UNIVERSITY 

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said tbe deal was authorized by w s P' nni,T 8 

Bertram Brinkebom, who was then A . Cow * M y an ^ trusty steed 
in charge of Asea’s sales to the East Are movu, S is the dam. 
bloc. The implication of the com- The gathering was sponsored by 
pasty's statement is that Mr. Brin- the Institute of the American West, 
keborn could have made tire deal of Sun Valley, Idaho, an arm of the 
himself, without informing the Sim Valley Center for the Arts and 
company. Humanities. It was financed by 

Mr. Brinkebom, the spokesman about $75,000 in grants from the 
said, is exported to go on trial for National Endowment for the Arts 
alleged tax-evasion offenses con- and other foundations 

r ^ * 0 ^,^ 1 * ■> w* Uic fim «ch formal galh- 

kansson. Sweden, which has no law ering ever, said the institute's rnrec- 


. poetry seems to have 
been in existence since the 1870s, 
Mr. Cannon said. By the 1880s, 
vases were appearing in newspa- 
pers and cattlemen's journals. 

He said the West is still full of 
men and women in the cattle indus- 
try who write and recite poetry. 

Modem poets write about the 
loss of an age of cowboys and the 
open range as well as politics and 
personal experiences, he said. 

One of the best-loved of the old- 
time cowboy poets is Gail L Gard- 
ncf, now in nis 90s and Irving in 
Prescott, Arizona, who concludes a 
poem called “Real Cowboy Life" 
with this advice: 


// you ever have a youngster 
And he wants to filler stock. 

The best thing you can do for him 
Is to brain him with a rock. 


Or if rocks ain't very handy 
You kin shove him ‘dam the well; 
Donor let him be a cowboy. 

For he's better off in hell . ' 


(Continued from Page 1) 
a deputy commercial attache in the 
New Delhi embassy for four years. 

(The French deputy military at- 
tache, Colonel Alain Bolley, who 
left India Jan. 20, also was named 
by Mr. Narain, the source said, 
adding that be did not recall the 
name of a second French diplomat 
involved.] 

It was unclear what effect the 
charges would have on p lans for 
General Wojdech Jarazelski. the 
Polish leader, to visit India next 
week. Polish, East German and 
French officiate all refused to com- 
ment on the charges. 

A court official, who declined to 
be named, said that Mr. Narain 
had confessed to a 25-year involve- 
ment in industrial, military and po- 
litical espionage. 

“Every kind of document,” the 
court official said, was passed to 
diplomats from Poland, East Ger- 
many and France. He said that Mr. 
Nanun had confirmed the involve- 
ment of "all those arrested" in the 
case, including five members of 
Mr. Gandhi's secretariat. 

Indian offidals have said that a 
wide range of secret information — 
from India’s plans for future mili- 
tary purchases to intelligence re- 


ports on the Punjab. Pakistan and 
Sri La 


Lanka — was in papers copied 


by junior government officiate and 
gjvm to Mr. Narain, who passed 
them to his embassy contacts. 

Fifteen people have been arrest- 
ed for violations of the Official Se- 
crets Act since intelligence officiate 
began a crackdown last month with 
searches of Mr. Narain's home and 
that of a official In the prime minis - 
ter’s secretariat. 

On Monday, the secretary or de- 
fense production, M.C. Sana, and 
R-S. iaijal, a secretary in the Fi- 
nance Ministry who negotiated for- 
eign aid and loans, were sent on 
leave. Their aides were arrested in 
connection with the spying scan- 
dal. 

The court official who spoke to 
reporters said that Mr. Narain told 
die court he had received payments 
running into millions erf rupees for j 
his work. A rupee is worth abo&V 
7.9 U.S. cents. ■ 

The official quoted Mr, Narain 
as saying that his work helped his 
Bombay-based company, S.LM. 
Maneklal. win foreign contracts. 
The company manufactures and 
exports industrial pumps, plastic 
machines and compressors to the 
Soviet Union, East and West Ger- 
many, Poland, Czechoslovakia and 
Bangladesh. In the past decade, it 
has won several minor military 
contracts. 



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INTERNATIONAL HERALD TRIBUNE, TUESDAY, FEBRUARY 5, 198S 


Page 3 


Front Kitchen to Classroom, Mid-America Feels Budget 9 s Touch 

The Associated Press 


' By T.R, Reid 

nc CTYTr* * ajhin K°« Poa Server 

Wdfflfc. <* *■ ?974 billion that 

*¥* the U-S. 


bouse on 


vied on him oths third pays tor a D other g o ve rnm ent programs, 
Ibop.abusy hundreds of which find tbeff way to the Hovis home 
clothing store on Main Street in this mid western, and Dennis Hovis’s business, 
community. The shelves in the family’s ididuai — as in many 

De Soto, home of a big Missouri-Pacific Railroad other kitchens in the United St at e s ——arc replete with 


maintenance and 


repair yard, is a community of 6J0Q 
i hillside about 40 miles (64 Idlotne- 


evi deuce of the U.S. 


om the 


hough Mr. di sti nct ion. 


week of the month,*’ he said. “Those Social Security 
checks, railroad retirement checks and like that come 
in, and my customers receive them. And 1 can see the 
impact in my store.'* 

State; county and local aovennnen ts are other major 
be n efi c iaries of the federal budget As a member of the 
De Soto City Council since 1981, Demos Hovis has 

seen i frk firsthand. 

According to Lawrence C Palmer. De Soto's ary 


aairy inspectors, joe sott onus m ub lai igpftug Accoramg u> Lawrence u. rahner, De Sotos an 
contain food coloring and sweeteners tested and certt- manager, the mtmicipality receives about $ 170.000 


But Ac ro m ;i„ vl . . states when the 1980 census was taken. <3 M ^ UU K * 

the United States will benefit “ . Spending a link time with the Hovis fanrily makes it 

through hundrerisof *5^ >l ^ ct dear that the federal govenunemisdeily woven into “ 

dredsoriXid^^^ the fabric of daily HE 

the president sent to Congress on hSnday prDposa ^ Mr. Reagan’s budget proposal comprises three big 
gjennis Hovis. in turn win reSitSl categones. Just over one- third goes to direct grant -in c has 


1 by engineers at the Consumer rroduct safe- million awmi^i budget, the iv«in«jl has fwynr depen- 
ty Commiss ion. dent on the check Cram Washington to buy such 

The nutation statements on the cereal boxes have essential equipment ss tracks ^ road-repair gear 
been approved by the Federal Trade Commission. The Now and agiinDe Soto receives other benefits from 

h e atin g coils in die oven have been tested for effiden- the federal government, such as the $7 7 ^ mflijnn fh»t 
Department of Energy. Even the paint on the paid for 90 percent of the new water treatment plant 


The Associated Press 

NEW YORK — In an attempt to bring swifter punishment to subway 
criminals. Mayor Edward L Koch has proposed moving courts directly 
into some of the city's most troubled stations. 

That would punish criminals more quickly, keep a better check on bail 
jumpers and free police from having to wait in courthouses, Mr. Koch 
and the deputy mayor. Stanley Brezenoff. said. A 24-hour full-scale court 
“in that vast underground at Times Square could determine pe n alties and 
decide who’s to be held on bail," Mr. Brezenoff said. . 

Mr. Koch noted out that judges previously had been assigned to a jail 
and to a mental hospital. 


CONTAINERWORLD SERVICES LTD 
HIGH INCOME PLAN 


income, excise, cm- just under one-third goes to military 



walls bas been approved by the Environmental Protec- 
tion Agency. H^is ^ ^ 

she pays an artificially inflated pne^for nhl^aiLd 
other agricultural commodities because of federal pro- 
grams to support farm prices. 

On. the outer hand! many line items in the federal 
budget save the Hovises money. 


“Of course, it’s only fair that the federal gove rnment 
should pay because it was the federal government that 
made us build a new plant in the first place," said Mr. 
P almer ^ the city manager. 

De Soto also benefited from federal largess when it 
floated an industrial revenue bond to build a new . 
plant for the Hamilton Shoe Co^ one of the commnm- ! 
ty*s major employers. Because Washington has agreed I 


Among the items in Mr. Reagan’s proposal for the not to tax the interest income from such bonds, the 
Department of Education is one that helps pay for city was able to sell the bends at a bekjw-maiket rale 
lunches at public schools. Betty Adams, bookieeper at of interest. 



the De Soto SdtoolBoard, says the mnniapaliry l, addition, Mr. Hovis and other Main Street bnsi- 
rectaves about $23,000 a month from the federal ness owners are hoping that Mr. Reagan’s fiscal 1986 
government to subsidize school lunches. budget includes 0*5450,000 CoEmity Action 

As a result, Kevin and David Hovis each pay only gram they are -waking to broaden the street and 
85 cents a day for a hot lunch at Vineland Elementary provide more parking for downtown shoppers. 


ScbooL Without federal foods, Mra. Adams estimates, Not everything about federal spending is good la- 

the boys would be charged 25 cents to 30 cents more. h »rine*c however r Vnm« Hnci< nwtni^tc » ut* 
The Hovis sons have access to a roomful of personal rasnrgnop safr yman and ip thin frg fmrfa hrmo-lf in 
computers at their school, purchased with a $20,000 direct competition with Washington. Because of the 
grant from the Department of Education. hundreds of billions of dollars paid out through Social 

Economists say the federal budget can be viewed as Security and other federal grant programs, people buy 
a huge income-redistribution machine: That is, every less private insurance than they would otherwise, 
bne item in the budget cm be looked at as a source of And of coarse, Mr. Hovis and other working people 

income to somebody. across the country must pay the $800 billion in taxes 

Dennis Hovis received this income in a direct form the Reagan budget calls for in fiscal 1986. 
years ago. His father died when Mr. Hovis, now 36, Like other U.S. waters, Mr. Hovis runs into the 
was stiff in high sdiool, m a king him eligible For Social federal budget every time he gets a paycheck. 
Security survivor’s benefits, monthly checks that pro- Although he is seif-employed, he receives a quarter' 

vided “a tremendous help at a time we really needed j y check from the city for his services as a council 
it," Ins mother recalled. member. The nav is S1Q0 a vear. but the ouarteriv 


ion. hundreds of bfflions of dollars paid out through Social 

an be viewed as Security and other federal grant programs, people buy 
: That is, every less private insurance than they would otherwise, 
itasasourceof And of coarse, Mr. Hovis and other working people 

across the country must pay the $800 faiffion in taxes 
h a direct form the Reagan budget calls for in fiscal 1986. 

Hovis, now 36. Like other U.S. waters, Mr. Hovis runs into the 
igible for Social federal budget every turn: he gets a paycheck, 
hecks that pro- Although he usetf -employed, he receives a quarter- 

e really needed j y check from the city far his services as a council 
member. Hie pay is S100 a year, but the ouarteriv 


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HOMEWORK — President Reagan works on his State of the Union ArMn^SfSn 
David, Maryland, the presidential retreat He is scheduled to defiver it Wednesday. 


iV ms mother recalled. member. The pay is $100 a year, but the quarterly 

Today, as a successful busmesanan, Mr. Hcrvis gets check comes to 523.45. 

□o direct payments from the government, but he “And I look at it,” he said, “and 1 wefl, that 
benefits from the monthly flood of federal checks. other $L55. 1 hope they’re ™»Wn e good use of it m 

Washington.” 


“As a retailer, your sales are always better the first 


j Please send me by return delate of your High Fbred Income Plan. 

I NAME 

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Age of Airlines’ Fleets in U.S. Worries Critics 


By Robert L, Jackson 

Los Angeles Times Service 

WASHINGTON — The crash 
of a 25-year-old Electra that killed 
persons is Reno, Nevada, on 
-vJo- 21, is raising concern among 
some safety groups about (he na- 
, ton's aging airliner fleet, especially' 
the older planes flown by many 
commuter and newly founded air- 
, lines. 

The competition sparked by de- 
regulation has matte aw ^ ing t more 
cost-conscious — and more likely 
to keep their older planes flying 
longer rather than replace them. 
Statistics compiled by the Air 
Transport Association, which rep- 
resents 30 major U S. air carriers, 
show that the average age of the 


planes operated by the major air- 
lines has more than doubled in the 
last 15 years, from 5 years in 1970 
to 11 years today. 

John Gaiipault, a former mili- 
tary test pilot who heads (he non- 
profit Aviation Safety Institute at 
Worthington. Ohio, points out that 
the regnlariy riiqiiili^ are 
using 20-year-old DC-9s and 
Boeing 707s. 

' But William Jackman, ATA’s as- 
sociate director, said the major car- 
riers “have considerably more up- 
to-date fleets than the 50 to 60 
smaller airlines that operate inter- 
state — mainly commuter and 
charter airlines." For example, the 
Electra that crashed in Reno was 
operated by Galaxy Airlines, a 



charter airline founded three yean 
ago. 

Fedaul safety officials said they 
are not disturbed that older air- 
planes are still in operation. 

“It’s not the age of an aircraft, 
it’s the maintenance that’s impor- 
tant," said Robert Buckhom of the 
National Transportation Safety 
Board, which investigates all air- 
craft accidents. “You can keep fly- 
ing an old plane as long as you 
maintain it wefl. But it’s like (hiv- 
ing an old car. The older it gets, the 
more closely you have to watch it” 

The accident rale of the Electra, 
one of the oldest planes in service, 
is high. Christopher Witkowski. di- 
rector of the Aviation Consumer 
Action Project, which is affiliated 
with the conaimer advocate Ralph 
Nader, said 46 Hectras have been 
involved in accidents in recent 
years out of 175 such models still in 
commercial service. 

The rate shows that “many air- 
lines are trying to cuitheir costs by 
keeping up older plane s instead of 
buying new ones; Mr. Witkowski 
said- 

Mr. Gaiipault said: “You cannot 
avoid metal fatigue in older planes. 
In some cases the metal tAmnys 
shape. The aluminum stretches 
with time and is affected by various 
stresses: 

“You can restore older plane to 
airworthy condition if you want to 
pay the price for iu" he said. “Fa 


example, it costs $70,000 to over- 
haul a propeller on the Electra. But 
it may cost $500,000 to replace 
one.” 

The fleets that aiitines have now 
are not “aged and decrepit,” said 
John Mazor of the Air Line Pilots 
Association. “But a noticeable 
trend toward older planes has de- 
veloped since congressional action 
seven yean ago to deregulate the 
airline industry." 

“It’s cheaper than baying new 
ones," Mr. Mazor said, “and sane 
airlines — particularly smaller ones 
— cannot afford not to hang onto 
them.” 

Edwin L Colodny, chief execu- 
tive officer of USAir, acknowl- 
edged that older airplanes are es- 
sential for many new companies 
that have enteral the deregulated 
airline industry. 

Addressing a recent conference 
an air safety sponsored by (he 
Flight Safety Fonndation of 
McLean, Virginia, Mr. Colodny 
said: 

“We have older aircraft flying 
longer. They are flying longer be- 
cause that is the way you get into 
the business. Buy an older airplane, 
fly it and hope that you don’t have 
a problem before it gets to its next 
chedc." 

The public should understand, 
be said, that safety i m provements 
have “got to come out of the ticket 
price.” 


INTERNATIONAL CLASSIFIED 

mvRii. *MmnNc 


(Continued From Back Page) 


3 Yugoslav Dissidents 
Given Light Sentences 



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Reuters 

BELGRADE — Three Y ugpslav 
intellectuals woe sentenced Mon- 
day to what a defense lawyer called 
light prison terms motivated by po- 
litical considerations, after a 13- 
week trial for anti-state activities. 

Miodrag Mflic, 55, a scriptwriter, 
was given two years is prison, Mi- 
lan Nflralic. 37, a sociologist, 18 
mouths, and Dragomir Olujic, 36, a 
radio technician, one year. They 
were found guflty of spreading pro- 
paganda hostile to the state, an 
offense that carries a minimum 
sentence of one year and a maxi- 
mum of 10. 

All three men said they would 
appeal Legal sources said it could 
be a matter of years before they 
were called, if at all, to serve the 
sentences. 

“The sentencing was milder 
compared with similar political 
1 cases in the past." Tama Pietovar, a 
defense lawyer, said. “Political rea- 
sons stood behind the lighter sen- 
tences.” 

She appeared to be alluding to 
the unfavorable publicity the trial 
has attracted in the West and fears 
in the leadership that Yugoslavia's 
international stature as a tolerant 
Communist country could suffer. 

The presiding judge, Zoran Stoj- 
kovic, told the three that the five- 
member panel of judges had found 
ih q ti gmlty of “falsely and mali- 


ciously” depicting the Yugoslav 
system and insulting its leadership. 
But he said there had been no evi- 
dence that they had sought to incite 
“an unconstitutional overthrow” of 
the system or distribute anti-state 
propaganda. 

In a 50-minute explanation of 
the verdict, the judge said Tito had 
been among those defamed orally 
and in writing by the three accused 

The verdict was the first to be 
banded down in a trial of six dissi- 
dents that began Nov. 5 and has 
been seen as a pointer to future 
Yugoslav policy cd human rights 

Die defendants originally went 
on trial with three others cm a more 
serious charge of conspiring to un- 
dermine the Yugoslav Communist 
system. 

On Jan. 23, the public prosecutor 
dropped all charges against Pav- 
lusha Imsirovic, 36, a translator, 
and reduced the conspiracy charge 
to one of hostile propaganda 
against the three judged Monday. 
Separate trials hare been ordered 
for the two remaining defendants. 

“There are weaknesses in our 
country but the party and the au- 
thorities are doing their best to rec- 
tify them,” the judge said. 

The defease lawyer said the 
judge’s words showed that room 
for freedom of express on and 
opinion in Yugoslavia was “very 
limited.” 


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Page 4 


TUESDAY, FEBRUARY 5, 1985 



PtiMMitd With Hk Mm York Tin** ud Tb# Tubingum Pout 


Botha’s Hint of Wisdom 


Armed with new constitutional powers. 
President P.W. Botha of South Africa now 
talks of some new concessions to a powerless 
black majority. He hints at reviewing crud 
housing laws and providing some form of 
“consultation" with blacks intide the airtight 
compartments of apartheid. But more surpris- 
ingly, he has dared mention the hitherto un- 
mentionable — the possible release from pris- 
on of rights leader Nelson Mandela. 

For 21 years, Mr. Mandela has been serving 
a sentence of life imprisonment for allegedly 
promoting violence and revolution. The Afri- 
can National Congress, which he led, has been 
outlawed as a “Soviet surrogate." What a sur- 
prise, therefore, when Lord Beth ell, a British 
Conservative, was allowed to interview South 
Africa’s best-known prisoner, who said during 
the meeting: “The armed struggle was forced 
upon us by the government, and if they want 
us to give it up, the ball is in their court. They 
must legalize us, treat us like a political party 
and negotiate wiLh us. UntD they do, we will 
have to live with the armed struggle." 

Taking up the ball, which he may have 
served in the first place, Mr. Botha told his 
parliament be would consider releasing Mr. 
Mandela. Mr. Botha asserted: “AD that is 
required of him is that he should uncondition- 
ally reject violence as a political instrument." 


If so. would the government then deal with a 
legalized African National Congress? Might it 
operate undo 1 a new name? Could it and Mr. 
Mandela advocate peaceful change? Mr. Bo- 
tha did not say, but his suggestion points the 
way toward a possibly significant bargain. 

Legalizing the blade congress would not 
abandon white rule, only provide blacks with 
an outlet for their grievances, a structure for 
makmg leaders and an instrument for petition- 
ing. It would mark a return to the less repres- 
sive 1950s, when apartheid was aborning 
Dealing humanely and politically with dissent- 
ers at home could be a pragmatic corollary to 
Pretoria’s new policy of treating with leftists in 
Mozambique, Angola and Namibia. If that is 
Mr. Botha's aim, he could not oily improve 
Smith Africa's reputation but gain valuable 
time for a peaceful passage away from ra ci s m . 

What truly threatens South Africa's social 
peace is a system that denies 21 million blacks 
the most basic political rights, even as 4.5 
mini on whites prosper on their labor. The 
blacks are condemned as inferior in fact and 
law. They cannot vote. They must carry passes 
to travel from ghettos to work. And they can- 
not protest their bondage without risking jafl- 
If victims of the system could challenge it, 
their oppressors would fear change less. 

— THE NEW YORK TIMES. 


The Talk With Mr. Castro 


It is always good to hear Fidel Castro call 
for improved relations with the United States, 
as he end in an interview with The Washington 
Post published Monday. But considering the 
historical record, not to speak of Mr. Castro's 
fine print, the prospect does not seem so good. 

The record shows that for at least 10 years 
Cuba and the United States have been discuss- 
ing the worthy but modest items — immigra- 
tion, travel, hijacking, coast guard, fishing, 
radio stations — on their bilateral agenda. 
Progress on particular items is occasionally 
made: Just lak December the Reagan admin- 
istration, abandoning its refusal to talk with 
Cuba, made its first agreement with Havana, 
on immigration. But the items that remain to 
be discussed are, as Mr. Castro says, less 
important. Long ago the two countries found 
they could live with ragged bilateral ties. Full 
agreement on all the items extant would not 
materially alto - the basic hostility. 

Mr. Castro says he sees no sign of a basic 
American policy change. Mercifully, there has 
been a change since the shameful episode in 
which official U.S. efforts at sabotage and 
assassinati on were unde rtaken These have 
been exposed and repudiated. But in another 
sense, Mr. Castro is right No single American 
regional policy has shown more consistency 
longer than the general American outlook on 
Cuba. John F. Kennedy defined it in 1963, 
saying no real progress was possible until 
Cuba changed its relationship with the Soviet 
Union and its support of revolution. Mr. Cas- 
tro has now reaffirmed that these fundamental 
elements of his policy are still in place. He has 


always been ready to “normalize" relations — 
by which be means to accept the end of the 
American trade embargo and other forms of 
American pressure. But, as he emphasized 
again during the Post interview, he has never 
been ready to improve relations at the expense 
of his general foreign policies or, as he says, his 
“moral principles." 

This was not Mr. Castro's only reference to 
morality in the Post interview. He died, at 
length, his moral values in volunteering a re- 
jection of a charge in a Post editorial of Dec. 
17, 1984, that he had cynically dumped mental 
patients and c riminals on the United States in 
the 1980 Marie! boatlift One can understand 
why Mr. Castro would like to erase that se- 
quence from his an A others' mrnHc Permit us 
to restate the record here: 

Three Cubans, desperate to leave the island 
paradise, had broken through police lines into 
the Peruvian Embassy compound. Spitefully, 
Mr. Castro removed the police and challenged 
what he still chooses to call “anti-social ele- 
ments” or “lumpens" to get ouL Some 10,000 
Cubans flooded the compound, to go not to 
the golden United States but to poor Peru. An 
embarrassed Mr. Castro, hunting for a way to 
identify the departures with Cuba's traditional 
foe, opened the port of Marie! for a boatlift to 
Miami Among the 125,000 who left were 
inserted thousands of criminals and mental 
patients, their status compdlingly established 
by their own and their boat mates’ testimony. 
It was cynical of Mr. Castro to dump them 
then, and it is cynical of him to deny it now. 

— THE WASHINGTON POST. 


Other Opinion 


Turkey Is Winning the War 

One man's war is another man's profit, and 
Turkey has been doing very nicely out of the 
conflict between its neighbors Iran and Iraq. 
With the signing on Jan. 22 of an agreement 
between Turkey and Iran to look into building 
pipelines for Iranian oil and gas through Tur- 
key, the Turks are on their way to f ulfilling a 
long-held ambition. This agreement should 
help them sort out their Kurdish problem. 

Turkey has picked up a lot of trade as a 
result of the war. The Turkish goods now being 
bought by the warring states have helped to 
revive the flagging Turkish economy. Turkey 
now sells more goods to Iran than to any other 
country: Iranian orders for Turkish goods, 
which stood at $85 million in 1980, rose to $1.1 
billion in 1983. Meanwhile, Iraqi imports of 
Turkish products have nearly tripled. 

Iran's stranglehold on the Gulf at the Strait 
of Hormuz has forced Iraq to export its oil 
overland. But since Iran's ally Syria closed one 
Iraqi pipeline, Iraq has had to rely on the one 
passing through Turkey. Iran is now in a 
similar position: In the past eight months, 
Iraqi attacks on tankers have made it increas- 
ingly difficult for Iran to get its oil out from 
Kharg Island. This, together presumably with 
the assumption that the war mil run and run. 
has pushed Iran into an accord with Turkey. 

Iranians and Turks will meet this month to 
talk about plans for two pipelines, one for oil 
and one for gas, running through Kurdistan 
either to the Mediterranean or to the Black 
Sea. Turkey will thus get preferential access to 


Iranian, as well as Iraqi, oil and gas, and the 
money from the transit dues. 

The result, if the project comes off, could be 
Iraqi and Iranian pipelines running side-by- 
side through the Turkish countryside. Turkey 
will thus get preferential access to I ranian, as 
well as Iraqi, oil and gas, and the money from 
the transit dues. The Turks also hope the deal 
will persuade Iran into cooperating with them 
against Kurdish separatist guerrillas. 

— The Economist ( London j. 

Yalta’s 40th Anniversary 

For tens of millions in central and eastern 
Europe. Yalta is the enduring symbol of their 
betrayal by the West into Soviet bondage. 
Yalta means the root of all their present politi- 
cal evils. Yalta means the F all. Increasingly, 
people in the West share this view of Yalta as 
the root cause of Europe's present woes. 

It is not the mere fact of treating with the 
Russians which is dangerous: It is the illusions 
which have repeatedly arisen from such treat- 
ing — from Yalta to Helsinki In Western 
democracies, these illusions are of two kinds: 
the illusions of political leaders themselves, 
and those of the public which elects those 
leaders. In his memoirs, Churchill quotes an 
embarrassing economism he gave to Soviet 
leaders [“their word is their bond"). And the 
British politician comments: “1 felt bound to 
proclaim my confidence in Soviet good faith in 
the hope of procuring it” The Helsinki process 
may yet be part of overcoming Yalta. 

— The Tunes (London). 


FROM OUR FEE. 5 PAGES, 75 AND 50 YEARS AGO 


19 10: Fire Destroys Army Medicines 
NEW YORK — Three-quarters of the entire 
medical supplies of the United States Army 
were destroyed by a fire [on Feb. 4] which 
destroyed a seven-story building in West 
Street, New York. It is not known how the 
conflagration originated. A few moments after 
the outbreak a series of violent explosions 
shook the neighborhood like an earthquake. 
Major Edwin P. Wolfe was in command of the 
depdL and with thirty subalterns, had a nar- 
row escape. All egress was cut off by the 
flames, but finally Gre escapes were run up to 
the fourth story and the officers slid down 
safely. Their clothes were badly singed. In the 
cellars of the building were 10,000 gallons of 
petrol benzoline and alcohol which was 
Hooded just in time to prevent a grave disaster. 


1935: World Air Force Is Foreseen 
GENEVA — The League of Nations sees in 
the London agreement the first arrangement 
for automatic sanctions against an aggressor, 
and the embryo of an international air force. 
The agreement between Paris and London to 
join in immediate reprisal if either is attacked 
from the air, is considered to show the way for 
general action against any state winch violates 
peace. Germany's acceptance or rejection of 
the proposal will not affect the Anglo-French 
agreement to guarantee their own security. 
Indeed, League officials do not expect Germa- 
ny's return to Geneva, and, except for the air 
accord, the London provisions are considered 
to have little more than tactical significance. 
[But] automatic air reprisals, it is felt, may yet 
solve the weakness of the League Covenant. 


INTERNATIONAL HERALD TRIBUNE 
JOHN HAY WHITNEY. Chmmai 1958-1982 

KATHARINE GRAHAM, WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chairmen 


PHILIP M.FOISIE 
WALTER WELLS 
ROBERT K. McCABE 
SAMUEL ABT 
CARL GEW1RTZ 


LEE W. HUEBNER, PMtker 

Extadne Editor RENE BOND Y Dqndt Publisher 

Eduar ALAIN LECO UR AxodatPiiMur 

Deputy Editor RICHA RD H. MORGAN Aaocitse PiMuhtr 

Deputy Edaor STEPHANW. CONAWAY Duetur of Qpenttiam 

Assoaae Editor FRANCOIS DE SMA 1SONS Director of Caadatua 

ROLF D. KRANEPUHL DoeUor d A&rSsZ 


KRANEFUHL Dnaor d Adiatotog Sola 

International Herald Tribune, 181 Avenue Gnrks-dc-GanJle, 92200 Nenflfy-mr-Seiflc. 

France. Tdephoac: 747-1265. Telex: 612718 (Herald). Cables Herald Bans. 

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U.S subscription: $284 party. Second-dan postage paid a Long Island City, N.Y. 11 101, 

0 1985, haenummxl Herald Tribune. AB rigfiu rf tp*t d_ 




M 


U.S . Declaration of Independence on Third World 


A- 


W ASHINGTON — A strong, By W i ll j am S afin * 
new American policy has been J 


evolving toward the “Third 
World." The new way was found 
with LOST, the most apt acronym 
of the postwar era— the Law of the 
Sea Treaty, a grab for the natural 
resources of the next century by the 
politicians representing the most 
backward and totalitarian nations. 

Hie Reagan administration re- 
fused to sign LOST because it did 
not want the United States to be- 
come a party to the socialization of 
the sea, setting up an unaccount- 
able and self-perpetuating world 
bureaucracy dedicated to regulat- 


ing and taxing free enterprise. 

The decision to turn back from 


the brink of LOST infuriated the 
devotees of world government. De- 
nunciations of our “lawlessness" 
came from the back seats of limou- 
sines with diplomatic license plates 
everywhere, and liberal establish- 
mentarians here excoriated the de- 
cision to put our national self-inter- 
est and principles of a free economy 
ahead of “world opinion." 

True, the United States was “iso- 
lated," but gained the quiet respect 
of allies who recognized belatedly 
that the Most Backward Nations — 
often manipulated by the Soviet 
blew and the Arab bloc — bad tak- 
en control of the United Nations. 
With the trap of LOST averted. 
President Reagan focused on the 
dirty little secret of the United Na- 
tions: the high living and rampant 
corruption in UNESCO, where Di- 
rector-General Amadou M ah tar 
M’Bow of Senegal blew hundreds 
of milli ons on “administrative ex- 


penses" in Paris, with the U.S. tax- 
payers carrying most of the burden.' 

When we withdrew from the fi- 
nancing of that playpen for Third- 
World diplomats and their inamo- 
ratas, Mr. M’Bow hired a 
Washington publicity firm for 
$15,000 a month to whip up the 
usual establishment support for 
subsidizing international organiza- 
tions. The whitewash failed: the 
UN Educational, Scientific and 
Cultural Organization is so blatant- 
ly ami-freedom, anti-Uniled States 
and anti -Israel that not even the 
most liberal knees will jerk. Britain 
and Singapore have followed the 
U.S. lead out of this organization. 

Mr. M'Bow, with some money 
from Libya, vows to sue America 
for 1985 support in the World 
Court. That brings us to the third 
decision of Mr. Reagan in defiance 
of the elite that presumes to call 
itself "world opinion.'' The World 
Court has become a UNESCO of 
the law. The court's judges — main- 
ly from Third World and Soviet 
bloc countries — are subject to 
pressures from back home. 

Not surprisingly, the Third 
World and Soviet-bloc politicians 
at the Hague have reached beyond 
all precedent to take up the cause of 
the Communist regime in Nicara- 
gua against the United States. The 
charges suit the propaganda of both 
the Soviet Union and Nicaragua. 


bing UNESCO and a resource- 
grabbing world bureaucracy at 
LOST: America will not submit. 

Hie ream rial reason we will not 
Submit our national security deci- 
sions to a foreign court, or continue 
to finance personal and political 
corruption at UNESCO, or turn 
over the freedom and resources of 
the sea to the world boondoggles, 
is this: Our national interest in free- 
dom, justice and democracy is far 
greater than our concern for an in- 
creasingly stridenL intolerant and 
often comipt elite that claims to 
represent “world opinion." 

That is why the taunt of Nicara- 
gua's defenders in the United States 
—that our refusal to submit to the 
Hague court's certain judgment is 
an admission of guilt — has so little 
sting. The place for the United 
States to debate the morality of our 
methods of hemispheric defense is 
in the U.S. Congress, not in some 
Third Worldly star chamber. 

In our Declaration of Indepen- 
dence, “a decent Respect to the 
Opinions of Mankind" compelled 


us to give our reasons for separa- 
i. Th« 


The Reagan response to a power- 
grabbing World Court is the same 


as his response to a money-grab- 


tion. The word “decent" in that 
time and context meant “fitting"; 
but as Third World dictators took 
over international bodies, such re- 
spect ceased to be fitting 
Our new independence from 
backward-nation majorities will 
not isolate us from sensible allies. 
Our respect for world opinion 
should be measured by the Third 
World's respect for democracy and 
freedom, and for the superpower 
that makes those values possible. 

The New York Times. 



mm 

ir not. M* 

'Whatever happened to that big melting pot? 9 




^jSNtmmrr 


A Look at the Wrongs of America’s Political Right The Thaw 


P ARIS — The opinion that the 
United States is an exception to 
the rule of history, an impartial and 
uniquely disinterested force in world 
affairs, has been an important factor 
in the transatlantic relationship. This 
was so at the time of World War I and 
the Versailles Treaty, and again dur- 
ing the 1940s and 1950s. 

It had, however, to fade. Ameri- 
cans may have their share of idealism, 
but they have interests too. They 
sometimes find the two difficult to 
riiaingiiish and certainly make mis- 
takes. Vietnam, and the presidencies' 
of Richard Nixon and Timmy Carter, 
produced a different European view 
of America. This marked an impor- 
tant change in the Atlantic alliance 
and in a measure, a destabilizing one. 

Now Europeans hear from Wash- 
ington a new expression of American 
exceptionalisn. The people in and 
around the Reagan administration 
maintain that they have seen the fu- 
ture, that it works (the most rapid 
U.S. growth in gross national product 
for 33 years), and that it will work for 
every other country, too, from Fin- 


By William Pfaff 


can new right's program has enthusi- 
astically been adopted by the ex- 
Gaullist RPR, or Rasseinblemenl 
pour la R&publique, party of the 
mayor of Paris, Jacques Chirac, for- 
merly a zealous practitioner of cen- 
tral government intervention in the 
300-year-old French tradition. 

The American advocates of the 
new conservatism see themselves 


meat of the masses Attitude to- 

wards property is communistic — ne- 
gating property rights [and] results in 

riwnHgngivrn license, a gi tation " 

When Herbert Homer accepted 
the Republican Party presidential 
no minati on in 1928. he said that he 
believed — as does President Ronald 
Reagan today — that America was 
on the move: “Given a chance to go 


about its own history nor very intelli- 
gent. A useful classification of the 
right as it exists in contemporary Eu- 
rope identifies, first, the business- 
minded right. Favoring the free mar- 


ket, traditional in social and political 
tionalist and 


Could Be 
Extended 



;V 

■ ‘n 


land through to Bangladesh. 

These Americans have a message 






to preach, that of free- market, sup- 
ply-side, economics, and the reduc- 
tion of central government power. 
Individual and group initiatives are 
to take over from central govern- 
ment, so far as this can be done. The 
difficulties to be expected in adapting 
the American new right’s political 
program to societies organized in a 
different way than federal America, 
with different historical expectations 
of government, does not cause these 
Americans much pause. They are not 
really interested in foreign complica- 
tions, and in any case easily find 
acolytes abroad for whom citing the 
American message is a useful weapon 
in their own political battles. This is 
the case in France, where the Ameri- 


:V - ,; 'C • 


jju m«-i sxit * r 


bringing about a change in Washing- 
ton as important and lasting as 
Franklin Roosevelt's New Deal in the 
1930s. But that very reference is a 
reminder that they are not as original 
as they think. Roosevelt took over 
from a Republicanism just as com- 
mitted to "getting government out of 
business," and to rugged individual- 
ism, as is Ronald Reagan. During the 
years when Warren G. Harding and 
Calvin Coolidge were president, the 
mood of America was even more con- 
servative than it is today. Democracy 
was looked upon with suspicion: 
America, after all, is a republic. “De- 
mocracy,” said a U.S. government 
publication in the 1920s, is “govern- 


forward with the [Republican] poli- 
cies of the last eight years, we shall 
soon, with the help of God, be in 
sight of the day when poverty mil be 
banished from this nation.” ’ 

God did not cooperate; six months 
after Hoover look office the crash 
came. By the time be handed over to 
Franklin Roosevelt he could say, 
“We are at the end of our string." The 
free market had demonstrated just 
bow perverse it could be. Roosevelt's 
subsequent efforts to redirect it did 
not get far, until Lhe demands of war 
production eventually restored a 


gnm prosperity to the countiy. 

The real trouble with the American 


right is that it is neither sophisticated 


outlook. Next is the nali 
authoritarian right (“Bonapartist” in 
France). Lastly, there is an intellectu- 
al and “realist" right, which includes 
major thinkers like Alexis de Tocque- 
vflle in France. Edmund Burke in 
England, the late Raymond Aron in 
France. An equivalent tradition does 
not exist on the American righL 
That tradition exists nonetheless in 
the United States. Walter Uppmann, 
Hannah Arendt, Hans Mor gen than, 
Reinhold Niebuhr and George Ken- 
nan have been among its representa- 
tives in recent U.S. university life and 
journalism. Bui the American right 
regards such people as dangerous 
leftists, dnefly because they are, or 
have been, apposed to the aggressive 
nationalism and the Manichaean 
world view of the right 
The result has been the decapita-_ 
tion of American conservatism. The 
American righL as it is today, com- 
bines business and boardroom eco- 
nomics with jingoism and a credulous 
anti-Communism. Intellectually it is. 
and has always been, second-rate. 

This makes life difficult for those 
who want to find deep and universal 
significance in the message promul- 
gated these days from Washington. 
The people in Washington claim to 
have invented the bicycle. The for- 
eign observer remarks that it looks 
strikingly familiar, be is sure that be 
has seen such a vehicle before. The 
Washingtonian says, “I have found 
the way to solve the world crisis The 
observer, to borrow a phrase from 
Gertrude Stein, examines the solu- 
tion, and is troubled to find that there 
is no there there. 

© 1985, William PM. 


By Marshall I. Goldman 


EL LESLEY', Massachusetts — 


may not yet be summer, but 
there are signs everywhere that the 
wintry relations between the Soqta 
Union and the United Slates f&e 
begun to thaw. President Reagan no 
longer jokes about releasing bonds 
over the Soviet Union, and Soviet 
leaden have slopped warning their 
people about the imminence of war 
and the resemblance between Hitler 
and Mr. Reagan. Secretary of State 
George P. Shultz and Foreign Minis- 
ter Andrei A. Gromyko can meet in 
Washington and Geneva without 
snarling a l one another (as they did in 
1983k and can agree on procedures 
and even a little substance. 

The improvement has pome faster 
than almost anyone in either tte 
United States or the Soviet Unioa 
expected. The reversal in relations 
creates its own momentum, but there 
is still a long way to go. 

Nor will a few superficial 


meats bring us back to the 

era. For that matter, it is hard 


Disarray in the Ranks of France’s Communists 


P ARIS — The French Commu- 
nist Party, about to hold its 
25 th congress this week, has fallen 
into unprecedented decay and dis- 
array. This is important, not only 
for the future of French politics but 
for Weston Europe as a whole. And 


By Flora Lewis 


it is revealing of Soviet attitudes. 
There has been i 


i an accderation of 
unusually public squabbling inside 
the party m the last eight months, 
since its very poor showing of some 


I I percent jn last June’s European 
aisis nave 


elections. The Communists nave 
lost over ball their traditional vote 
of 22 to 25 percent in the last few 
years and, according to insiders, 
about half their membership. 

That is the real issue before the 


congress, though it will be argued 
out in terms of the leadership's do- 


mestic and foreign policy. Critics 
ed the 1981 decision to 


have attacked 
enter a coalition government with 
the Socialists. Others have attacked 

the decision by the party to quit the 

government last year. 

There have been complaints 
about the high-handed, authoritar- 
ian way First Secretary Georges 
Marchais and his cohorts run the 
party, and demands for more de- 
mocracy within iL There is tangible 
srtion to the automatic, full- 
ited support given to the Rus- 


sians after a brief flirtation with a 
more independent line. 

In short, the Communists know 
they have lost ground and cannot 
agree on what to do about iL The 
French party, once Lhe most impor- 
tant and influential outside the So- 
viet Union, has remained one of the 
most StalinisL rigid and dogmatic. 

The would-be reformers are like- 
ly to be rebuffed again, hardly a 
spectacle to attract fresh support 
among the young. Also, it may be 
too late for such reform to make a 
significant difference. 

French society has changed and 
economic trends will change it 
more. There is still a sharp sense of 
class, but there is no longer the old 
sense of class barriers to moving up 
the social ladder. Health care, wel- 
fare, a national pension system have 
removed many of the grievances 
that moved people to support the 
c ommun ist vow to overturn society. 

The old heavy industries, whose 
workers formed the base of conunu- 
nist strength, are ailing and shrink- 
ing. Their jobs are disaj 
Co mmunis ts, and unions in i 
are weak in the new industries, 
where the labor force is 
and higher skills are reqo 


Middle-class intellectuals, whose 
sense of guilt at not being from 
workers’ families and whose yearn- 
ing for revolutionary adventure 
drove them to the Communists, 
have abandoned the party now. The 


party can no longer boast the glit- 
tering names from the worlds of the 


arts, literature and scholarship who 
recruited the ambitious young peo- 
ple of a generation ago. 

Uotil the 1970s, there was an in- 
tellectual tyranny in France that 
made it almost impossible to get 
ahead in these fields with exit Com- 
munist patronage. Without real 
censorship, media control or travel 
restrictions as in the East, the Com- 
munists managed to blinker their 
following and get them to reject the 
evidence of thee eyes and ears. Now 
much more is known, and believed, 
about what really goes on in the 
Soviet Union and what was going 
on when French Stalinists pro- 
nounced it the workers’ paradise. 

About 15 years ago, when the 
French Socialist Party was collaps- 
ing and the Communists were win- 
ning nearly a quarter of the national 
vote, some party members urged 
modernization and some distance 
from Moscow's line, as Italian 


Communists were undertaking. 
President Franqois Mitterrand’s 
gamble when he allied his Socialists 
with the Communists was that he 
could reverse Lhe balance of forces 
on the left. He won, but he has told 
ex-Conununists that he would not 
be president today if they had suc- 
ceeded with their reforms. 

As a result, while the Italian 
Communists now win a third of the 
national vote, Moscow's influence 
beyond the borders of its force in 
Europe has never been lower. There 
is a question why the Russians en- 
couraged, even demanded, that the 
French Communists stick to the 
old, losing line. The answer seems to 
be that they feared successful re- 
form, the emergence of a more inde- 
pendent “Eurocommunism" even 
more than they minded decline of 
the old faithful parties. 

Eurocommunism might have ex- 
erted some influence inside the So- 
viet Union. For the same fear. Mos- 
cow could dot tolerate Polish and 
Czech attempts at reform lest they 
set an example for Russians. 

As happened so often, this is a 
case where Soviet mistakes 
strengthened the democratic West. 
Moscow’s loss is an important Eu- 
ropean gain. 

The New York Times. 


detente era. 
to see how an arms-control agree- 
ment, even if both sides are willing to 
compromise, can be implemented 
without an overall improvement c*/ 
relations and behavior. On the Soviet 
side, that means, among other things, 
a more acceptable posture in the 
Third World (Afghanistan) and a 
more humane approach to human 
rights and emigration. An improve- 
ment also involves action on our ride. 

Without meaning to trivialize the 
dimensions of the dispute, the quarrel 
between the Soviet Union and the 
United States is in some small way 
like a quarrel between husband and 
wife. Both sides may have to give. 

What can we do to signal our mu' 
tual intentions? For our part, wt 
should offer the Soviet Union some- 
thing that it wants, but it should not 
be anything that threatens our securi- 
ty. Allowing the Soviet Union “mosi- 
favored-nalion” status in trade 


would be such a signal a 

Since only the president can auSS& 


nze a waiver for the resumption of 
such status if the Soviet liberalizes 


emigration, that will also require ac- 
tion on Lhe pari of the Soviet Union. 
Since emigration, primarily of Jews 
but also of Germans and Armenians, 
has been cut from more than 50,000 a 
year in 1979 to under 1,000 in 1984, 
that will not be easy but is possible. 

Strict interpretation in the 1970s of 
the Jackson-Vanik amendment re- 
stricting most-favored-nation statu* 
was in part responsible for the emi- 
gration that the Soviets did allow. 
Despite all their protestations, lhe 
Soviets do at times respond to pres- 


sure. They did then, and they did 
arws 


Arms Control Talks 


In making “The Case Against Be- 
lief in Arms ContraT (Jan. 25), Nor- 
man Fodboretz distorts the facts. If. 
as he writes, the democracies had 


UTTERS TO THE EDITOR 

ing for inflation, that can hardly be 
called a cutback. What is more irra- 


tional the hope millions of people 


put in arms control negotiations or 
Mr. Podhoretz's own phobia of “the 


That Time has not done so suggests 
to me that Time might pasriUyl be 
careless again. 


un i lat e r ally cut back on defense after 
the SALT agreements, why is it that 


the overall number of nuclear arms 
has not diminished, as he correctly 
states? Would be have us believe that 
all these new weapons are on the 
other ride? 

The truth is that no NATO mem- 
ber state has slashed its military bud- 
get and the UJ5. doubled defense 
spending between 1976 (S90 billion) 
and 1982 (S18S billion). Even aHcw- 


enemy?” Isn't it the latter that helps 
prevent the reasonable quid-pro-quo 
policy now necessary? 

HERBERT H. GRAF. 

Barm. 


FRANCIS EDMONDS. 
Wiesbaden, West Germany. 


Time of Trial 


Regarding the report “ Sharon Loses 
Ubd Case as Jurors Find No Malice" 
t Jan. 25 ) by John Doyle: 

Sidetracked by the question of 
whether Time magazine acted with 


“actual malice” when it reported on 
Arid Sharon, the former Israeli de- 
fense minister, we have not focused 
on the question the case raises about 
the standards of our journalists. 

The fata remains that an American 

court has determined that Tune was Jail the Siren Chasers 
careless, even negligent in its erroue- , , 

oos, defamatory reports on Mr. Shar- Instead of arresting the chairman 

on. 1 am disappointed that though « Umoi Carbide, Warren M. Aader- 
you have been able to report that in India, the 

Time has been reviewing its proce- should have put in 

dunes and scrutinizing its personnel, J, ^ arriving ^ lawyers and freed 


again out of fear of the “Star Wars 
missile defense proposal when they 
agreed to return to Geneva. 

But just as the slick has its use, so 
does the carrot. The Russians 
thought that we had agreed to extend 
most- favored -nation status to tber*» 
m 1972, and fell betrayed when ihq 
did not get iL In retaliation they au 
but eliminated emigration. 

This is a unique opportunity, tail 
given our mutual distrust, it will not 
be easy to break the logjam. Each side 
to make some small ges- 
tures- The Soviets could release Ida 

Nudel. one of the more celebrated 

refuseniks, but Jewish groups here 
twU have to signal their wJiingness to 
be more flexible about such issues as 
most-favored-nation status. 

Assunun g thai the Soviet Union 
«mtmues to increase the number of 
emigrants and show a more humane 



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UTTEKNATIONAL HERALD TRIBUTE, TUESDAY, FEBRUARY 5, 1985 



Tutu Offers to Act as Mediator 
Between Pretoria and Rebels 




.4?; 


% AUister Sparks 

Washington Past Service 

^JOHANNESBURG — Bishop 

I terattng Ins commitment to peace- 
ful change, has offered to act as a 
" g ftate r between South Africa’s 
wuto-mmority government and 
the country’s main black under- 
P«rad movement, the African Na- 
tional Consress 


mg old P.n gfiri>Jwyyi tr y and 
•African hymns. The service pre- 
sented Bishop Tutu, who was 
■warded the Nobel Peace Prizelast 
year, with the most important 
white »witi>w he has addressed in 
his country. 

He said he was as concerned for 
his white parishioners as for his 
blade ones and that as pastor to 
both he wants to play the rote of 

con cilia (at , 

“1 love you all deeply — give me 
a chance to show you that X do,” 
Bishop Tutu told the white church 
members, some of where had tried 
to block his appointment as their 
bishop. Bishop Tutu formerly was 
the secretary-general of (he South 
African Council of Churches. 

Bishop Turn said he would work 
for more multiracialism in the par- 
ishes of his 100,000-siRMg diocese, 
his church’s largest. He said he 
would encourage white clergymen 
to leant African languages and sta- 
tion some in die blade ghettos to 
dispel “erroneous notions” about 
whites. 

Some of Bishop Tutu’s while 
supporters, disproportionately rep- 


hymns. 




»•- * - " 

‘ ^ L • 


^ - i J.. v 


' : 

■ ■ * — r . 


Speaking at his installation Sun- 
day as the first Wade Anglican 
-jMshop of Johannesburg. ashOT 
Tutu also said that be favored in- 
creased foreign investment in 
South Africa under stringent con- 
ditions. He added, however, that if 
the country's apartheid system of 
racial segregation is not being “ac- 
tively dismantled” within 18 
“onths to two years he will join tbe 
call for divestiture. 

Same of Sooth Africa’s leading 
white businessmen were in the re- 
gally mixed congregation of 1,500 
that packed tbe cathedral of St 
Mary the Virgin in central Johan- 
nesburg fa the candlelight, three- 
and-a-half-hoar ceremony, blend- 


resented in the congregation, were 
viably delighted. Other whites Ks- 
teneo impassively. 

Bishop Tutu’s offer to mediate 
between the government and the 
African National Congress came as 
the first indirect contacts are being 
made between them since the con- 
gress was outlawed 25 years ago. 

Several secret meetings between 
mftaential government supporters 
and eriled members of the congress 
have been held in Lusaka, Zambia, 
in the past two months, and more 
meetings are scheduled soon. 

Although no common ground 
repeats to have been established at 
these meetings, and President 
Pieter W. Botha has forbidden any 
state officials or members of Parlia- 
ment of his ruling National Party 
to attend further meetings, the coo- 
tacts have led to speculation that 
an agreement may be in the mak- 
ing. Few informed observers expect 
this, but Bishop Tutu, who has 
dose contacts with the exiled lead- 
ers, made it dear Sunday that he 
welcomes the contacts. 

“Let us talk together, h iarJr mid 
white,” Bishop Tutu said. “Thanks 
be lo God that ihe government may 



New image for Thailand 
Is 'Siam Lobby’s’ Goal 


Desmond M. Totu, right, was installed as tbe first black Aogfican bishop of Johannesburg. 


be doing so with the ANC. I of- 
fered myself long ago as a go-be- 
tween. I renew that offer.” 

v 

■ Youth, Foficetnan glM 
A youth and a policeman were 
killed and two other persons were 


injured during a weekend of unrest 
in a Mack township, a police 
spokesman said Monday, Renters 
reported from Johannesburg. 

The youth was killed Sunday 
night after police fired birdshot at 
demonstrator near Gradock in 


man said. The body of the police- 
man was found near the township: 
A woman and a man were in- 
jured when police opened fire to 
stop rioters who attacked police 
pawds with stones. 


Terrorism , Missiles Give Urgency to French OfftrioTs U.S. Visit 


a * liyhl 


in 

CflBlii 

Extent 


‘ i ' 

k« - . 






JS 


Washington Past Service 
WASHINGTON — The Reagan 
administration will roll out a diplo- 
matic red carpet for France’s new 
minister for external relations, Ro- 
land Dumas this week after giving 
a somewhat dully reception to his 
predecessor, Claude Cheysson, in 
November. 

Meetings Tor Mr. Dumas have 
been set up with President Ronald 
Reagan, vice President George 
Bush and the national security ad- 
viser, Robert C. McFarlane, as weQ 
as with Secretary of Stale George P. 
Shultz and Secretary of Defense 
Caspar W. Weinberger. But offi- 
■ dais said that more was involved 
than diplomatic courtesy. 

The meetings come at a time 
when a new form of cross-border 
. - terrorism in Europe, uncertainty 
wJbout the schedule of cruise mbsSe 
' deployments in Belgium and the 
Netherlands and li ngering differ- 
ences between Washington and 
' Paris over Libya and space-based 
missile defenses have created new 
concern in Washington about U.S. 
influence in Western Europe. - 
Administration officials are also 
aware that they will be dealing with 
a longtime confidant of President 


Francois Mitterrand, whose Social- 
ist Party came to power in France 
m 1981. In their nearly four de- 
cades of friendship, Mr. Mitter- 
rand has frequently confided his 
most delicate secret missions to Mr. 
Dumas. 

“1 have came to know him weQ 
enough to be able to grasp the nu- 
ance of what be says,* Mr. Dumas 
raid of the aloof -and private Mr. 
Mitterrand, “to understand his 
words or even his silences, which 
can be more difficult to understand 
but just as important.” 

In Mr. Dumas, US. officials will 
be meeting the former lawyer not 
only of Mr. Mitterrand but also of 
Pablo Picasso, Marc Oia y ll . the 
Paris Opera, the Palestinian guer- 
rilla Aba Daoud, and a number of 
Other notables from die literary, 
artistic and political aides that 
Mr. D umas frequents in France. 

The 62-year-old jurist made his 
reputation by raking difficult cases 
and either winning in court or bro- 
kering satisfactory agreements out 
of court by isolating the essen tial 
problems in a case mid persuading 
the parties to overcome them. 

His soft-spoken, silken manner 
of persuading an opponent by ar- 
gument rather than seeking con- 



Robmd Dumas 

frontatiori stands in sharp contrast 
to the acerbic and assertive bril- 
liance of Mr. Cheysson. whom Mr. 
DUmas succeeded in December. 

. Mr. Dumas indicated Sunday 
that U-S.-French tensions over 
Chad, which clouded Mr. Cheys- 
sou’s last visit to Washington, have 
decreased as it has become clear 
that France is persisting in hs ef- 


forts to pressure the Libyan leader. 
Colonel Moamer Qadhafi, into 
withdrawing his troops from Chad 

“We have not accepted in any 
way the partition of Chad or the 
occupation of Chad try the Liby- 
ans,” Mr. Dumas said “We have 
made it dear that France will fulfill 
its obligations in Africa, where we 
work to. maintain a balance of 
forces ami tbe stability of African 
states.” 

His appointment has stirred 
mare than normal controversy in 
France, and Mr. Dumas has had to 
work hard is his first month in 
office to dispel misgivings about 
his past He repeatedly emphasized 
Sunday that he had not been taken 
in by Colonel Qadhafi over H»d 
when Mr. Mitterrand sent him to 
see the Libyan leader last summer. 

T was sent to give him the un-. 
pleasant news that he had to leave 
Chad,” Mr. D umas said. “I don’t 
think Qadhafi considers me as one 
of his m ends" 

His visit to Colond Qadhafi and ' 
bis willingness to defend a Palestin- 
ian gneniUa chief arrested in 
France in 1977 have also led to bis 
being accused of being too friendly 
with Arab radicals. Mr. Dumas has 
brushed off these characterize- 


Orlega Sees U.S. Hardening on Nicaragua 

Halting of Talks, Honduran Maneuvers May Presage Tnmrion^San^iUSt Asserts 


lions, recalling that one of tbe 
charges brought against his father, 
who was exeat tedby the Gestapo 
in 1944 for resistance activities, had 
been that be sheltered Jews. 

In naming Glands An ) j»id . aybU 

chief of staff at tbe Foreign Minis- 
try, Mr. Dumas is seen in Paris as 
underlining that be will not be soft 
cm the Soviet Union. Mr. Arnaud is 
a former French ambassador to 
Moscow known for his hawkish 
views. 

' U.S. officials art likely to be ex- 
posed to Mr. Dumas's ability to 
doak the sharpest of disagreements 
in elegant and agreeable formula- 
tions when their discussions crane 
to European apprehensions over 
Mr. Reagan's Strategic Defensive 
Initiative. 

Mitterrand and other officials of 
the Bysfe presidential palace make 
it dear that French resistance to 
the concept of mounting anti-mis- 
sile defenses in space is stiffening 
as research accelerates and as Mr. 
Reagan continues to emphasize 
that tbe defensive system is intend- 
ed to replace tbe offensive systems 
that have been the center of mutual 
deterrence. 

France, Mr. Dumas said, is 
merely “expressing a legitimate cu- . 
rarity” about the implications of 


Mr. Reagan's proposals, which 
“have touched off both technologi- 
cal and political debates.” 

“Tbe United Slates is beguiling 
a change in its philosophy of secu- 
rity by substituting a defensive 
strategy for an offensive strategy ” 
he said. “It is a seductive philoso- 
phy, it can please puh&c opinion. 
But we need to talk more about this 
idea erf a protective curtain that 
involves the disappearance of the 
offensive system.” 

Mr. Dumas denounced a wave of 
coordinated terrorist attacks 
against an official in France’s arms 
sales and an executive in West Ger- 
man arms production and against 
.North Atlantic Treaty Organiza- 
tion intlallafinnc jg Europe. He 

suggested that France might now 
be more willing to consider joint 
counterterrorist actions than it has 
in the past 

“We are faced with a new fora 
of terrorism, which seems to be 
directed specifically against the 
countries of the Atlantic alliance,” 
he said. “Until now this sent of 
terrorism seemed to be present pri- 
marily in West Germany, bat now 
it is sprouting here and there. There 
seem to be common sources of sup- 
ply for different terrorist groups, | 
an underground trade in terrorism . 
that targets us aL” . 


By Barbara Crossccre 
Nett' York Times Service 

BANGKOK — Nearly half a 
century ago. long before there was 
a Bourkma Fasso, a Brunei, a Zim- 
babwe or a Zaire, the ancient King- 
dom of Siam changed its name to 
Thailand. 

A determined lobby wants the 
old name bade. 

“This word land' is English and 
totally inappropriate; we don’t 
need ihat farang stuff here,” Sera 
Ffcenjati said, using the Thai epi- 
thet for all things Western. 

Mr. Sera, 2b, whose father is 
Thai and mother American, recent- 
ly injected new life into the Siam 
lobby with a lener to the Bangkok 
post, an English-language newspa- 
per. The letter, which opened a 
round of correspondence on tbe 
subject, was provoked, Mr. Sera 
said, by his experiences as a student 
in the United States. 

“Most Americans,” he said, 
“don’t know the difference be- 
tween Taiwan and Thailand.” 
Those who do, he added, “have a 
negative image of Thailand from 
the ’60s — tire Vietnam War and 
refugees — and don’t want to think 
about those times." 

Mr. Sera, who works in a Bang- 
kok advertising agency, says the 
name Siam had a much higher rec- 
ognition factor, “especially among 
the older Americans who remem- 
ber The King and L* ” 

Tbe name-change lobby is not 
alone in worrying about the coun- 
try’s image. Tbe Thai Foreign Min- 
istry has just devised an image- 
improvement campaign to be 
waged by embassies abroad. Too 
many foreigners, the ministry says, 
link tbe country with piracy, child 
labor, exported prostitution and a 
domestic sex industry that leaves 
nothing tO the mwginerinin 

“We want people to see we are an 
old country with a long history," 
said Sawanit Kongsiri, a Foreign 
Ministry spokesman. 

Siam was 700 years old when it 
became Thailand — temporarily in 
1939 and permanently in 1949. It 


did not make the change to rid 
itsdf of a colonial past, since it was 
the only Southeast Asian country 
not to fall up«ter European domina- 
tion. 

Prather Thai, the Thai name for 
Thailan d, translates variously as 
“land of the free” or “land of tbe 
Thai” and i us t seemed more up-to- 
date and fashionably Western to 
the military government Of the 
time. 

“This was a tribal act, an act of 
nationalism,” said Sumei Jumsai, 
an architect and writer who has 
been campai g nin g for years to rid 
the country *of its present label 
“The explanation that Thailand 
means ’land of the free* is bogus.” 

The name Sam, say its propo- 
nents, is a geographical designation 
that lakes In not only Thais but also 
the ethnic minorities the realm in- 
gested over the centuries. Thailand, 
they say, has no meaning for cati- 
' zen s of Burmese, Khmer, Malay or 
hill tribe ancestry. 

Thailand, Mr. Sumtt said, is a 
name as out of date as tbe military 
dictatorships that thought it up 
when absolute monarchy was abol- 
ished half a century ago. 

“If the people realized that the 
name originated from a fascist gov- 
ernment in the *30s, if they realized 
that it had a republican connota- 
tion, an anti-monarchist connota- 
tion,” he said, “then I am sure they 
would want to change the name 
back." 

The present constitutional mon- 
arch, King Bhumiphol Adulyadg, 
“is still Sayamirtdrathirq, the ting 
of Siam. " Mr. Sumct said “Siam is 
the name still used in royal procla- 
mations. So we have this problem: 
Tbe king reigns over a Sam that 
doesn't exist any more.” 

Further, he added, Bangkok, 
which Thais call Kiting Thep, is 
living in an “astrological discrep- 
ancy” because its founding horo- 
scope was related to that of a coun- 
try called 55am. 

And that, Mr. Sumet says, goes a 
long way to explain the city's prob- 
lems. 


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By John Damton 

Ne» York Times Service 
MANAGUA — President Dan- 
iel Ortega Saavedra has accused the 
Reagan administration of turning 
. ,^its back on a political settlement in 
.7 Nicaragua and of considering “a 
miKtary solution” to overtbxowhis 
leftist government. 

In an interview on Sunday, Mr. 
' Ortega said tbe expanding united 
’ States-Honduran military maneu- 
vers just across the border and the 
administration’s halting of talks 
with Nicaragua in Mexico were 
. signs of what he called a toughen- 
ing line in Washington. 

lie also noted the U.S. with- 
drawal from a case before the In- 
ternational Court of Justice at The 
Hague^ which was bearing a Nica- 

• oM^se pcm^m&e^act 
■ that the administration has not de- 
. ctded in favor of a political solution 

and has not discarded a military 
.solution,” Mr. Ortega said. He said 
C Sfhe Sandinist government was “still 
.' obliged to think that the danger of 
an invasion, is present" and would 
. keep up itsgnard. 

Mr. Ortega has raised similar 
alarms about a US. invasion in 

• times of tension in the past, inchid- 
.. mg during elections in N ic a r ag u a 

late last year and when Washington 
charged, incorrectly, in early No- 
- vember that the Soviet Union may 
have shipped MiG fighter planes to 
Nicaragua. Once, be even gave a 
date that an invasion wouldoccor 
— Oct. 15. 

In dial context, his charges on 



Daniel Ortega Saavedra 

Sunday seemed not so much an 
expression erf genuine fear of invar 
sion, but an indication that, after a 
period of some dialogue between 
the two commies, relations were 
becoming hostile a gain. 

In particular, Mr. Ortega, the 39- 
year-oid newly elected president, 
concern ewer a campaign 
by the Reagan administration to 
pexsnade Congress to resume aid to 
anti-Sandinist gnn-pTlas based in 
Honduras. 

Last year. Congress ent off co- 
vert funding for the guerrilla force, 
equipped and trained by tbe Cen- 
tral Intelligence Agency. Congress 
has included $14 million far the 
rebels this year, bat attached a con- 


dition that it cannot be spent unless 
legislators give a second rote of 
approval sometime after this 
month. 

The “contras," as the Sandimsts 
call the guerrillas, hove been mak- 
ing deeper forays into the central 
nxmntamous region of Nicaragua. 
They are doing so despite what 
Western diplomatic observers in 
Manag ua and in Honduras say are 
apparent problems in. maintaining 
supply routes and in standing op to 
more aggressive tactics by the Nic- 
araguan Army. 

Most reliable estimates of ihe 
rebels put their forces at 10,000 to 
13.000. Perhaps half are inside the 
country at any one time. 

Mr. Ortega said that a resump- 
tion of U.S. aid to the insurgents 
would be “extremely grave fra: the 
future of negotiations in Central 
America.” 

“That would bring ns closer and 
closer to direct acts of aggression 

asserted. ad- 

ministration would fed that it has 
bipartisan support for its more ag- 
gresave poberes here.” 

Mr. Ortega blamed Washington 
for ending the talks between tbe 
two countries. He said the United 
States was not genuinely support- 
ive of a parallel, regional negotiat- 
ing effort, the COntadora peace 
process undertaken by Mexico, 
panama, Venezuela and Colombia. 

By ending the bilateral talks, Mr. 
Ortega asserted, the United States 
was pretending it was only an arbi- 


trator to Central American coo- 
ftkts, not an active participant- 

The Nicaraguan president said . 
that some in his government fdt 
that tbe coming ann*cantrol talks 
in Geneva between the United 
States and the Soviet Union might 
mean a special time of danger for 
Nicaragua. 

“The fact that the anus talks arc 
occurring could bring some people 
in the Reagan administration to 
th in lc ; that this is an opportune mo- 
ment to act against Nicaragua,” he 
said. “Our problem is that Nicara- 

Tbe SovwUnkm has no'oW^^OT 
to defend Nicaragua as it does to its 
allies in Europe.” 

Other members of the Sandinist 
government express the same /ears: 
Some seem to concentrate their 
theories on how UB. policy is de- 
termined on the actions and per- 
ceived intentions of tbe most con- 
servative elements of the 
Republican Party. 

On another matter, Mr. Ortega 
said he was bothered by recent 
statements by a key Nicaraguan 
apposition leader. Arturo Jos£ 
Ouz. He said that Mr. Cruz, who is 
traveling outride Nicaragua, had 
come out in favor of financing the 
insurgents as part of a provocative 
tactic to be refused re-entry to the 
country or to coart arrest upon his 
return. 

Mr. Cruz’s intent. Mr. Ortega 
asserted, was lo force the Sandin- 
ists* hand and put them in a bad 
light. He said Mr. Cniz would not 
be barred or jaded. 


Frank Oppenheimer, 73, Nuclear Physicist, Dies 


' NEW YORK (NYT) — Frank 
1 ^Oppenheimer, 73. a nuclear physi- 
^Ldsl whose leftist associations con- 
tributed to the end of the govern- 
ment career of his older brother, J. 
Robert Oppenhomer, died of can- 
aa Sunday in his home in Sausa- 
liio. California. 

Dr. Oppenheimer saved as a re- 
. search in the radiation 

laboratory at the University of Cal- 
' ifornia from 1940 to 1947 and in 
the war yeara worked on the secret 
Manhattan Project, beaded by ms 
- brother, which developed the atom- 
ic bomb: „ 

He was born in New York CSty 
-.and received his undergraduate 
. education at Johns Hopkins Uw- 
\ venrity. After studying physics at 

Cambridge, he earned a doctorate 


in physics from the California In- 


ReachingMoie 
ThanaThirdofa 
Million Readers 
in 164 Countries 
Amund theWbrld 

. HnralbjtoifenhuBr 


In 1949, he testified before the 
House Committee on Un-Ameri- 
can Activities that be bad been a 
member of the American Commu- 
nist Party before World War II. 
That and other disclosures about 
the political backgrounds of J. 
Robot Oppenheiino’s associa t es, 
led to a suspension of his security 
rfcamime m 1954. 

Frank Oppenheimer was dis- 
missed from his teaching job in 
Minnesota, and he began raising 
cattle in Colorado, where he be- 
came chairman of tbe local Soil 
Conservation District and a repre- 
sentative to the local Cattlemen's 
Association. 

■ Other Deaths: 

Rudolf Gamier, 75, the for- 

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mer director of Vienna’s Stare Op- 
era, Jan. 28 in Vienna. 

Fernand MooBer, 11. a veteran 
French journalist who covered 
D-day and co-founded Agence 
France- Presse, Tborsday. 

Lord Cameron of BaBnerie, 64, a 
wartime sergeant pilot who became 
chief of the British defense staff, 
Tuesday in London after a long 
illness. 




David Miron, 68, (he first Israeli 
on the staff of (he UN secretariat 
and a specialist in management and 
admimkration. Monday of a heart 
attack in Geneva. '■ 

Joseph Meyeiiioff, 85, a builder 
wbo amassed a fortune estimated 
at SI0Q million out of which be 
donated millions to tbe Baltimore 
Symphony Orchestra and Israel, - 
Saturday m Baltimore. 







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INTERNATIONAL HERALD TRIBUNE, TUESDAY, FEBRUARY 5, 1985 


ARTS / LEISURE 


A ... 


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Accidental Perfume Mixture Turns Into f Scent of the 


mm 


By Judy Klcmesrud 

New York Times Service 

N EW YORK — The strong, 
sweet smdl of Giorgio, “the 

scent of tte century," as its creators 

like to call it, wafted through the 

door of a Hotel Pierre suite here the 
o ther day. Inside, Gale and Fred 
Hayman of Beverly Hills were 
waiting to talk about Giorgio, the 
phenomenon that has rocked the 
fragrance industry. They have been 
divorced for seven years but are 
still in business together. 

“She wanted some thing that was 
assertive." Fred Hayman. 59, said, 
gesturing toward his former wife, 
whom be jokingly calls “the mad- 
am." 

“I wanted something that was 
noticeable, but not vulgar " Mrs. 


rows, Henry MnncinL Pamela 
ssin nnd other "taste setters. 


emanate from Rodeo Drive, Bevcr- rived at a time when people had 
ly HOIS. That helped give us a dis- become very aware of their senses 
tinct identity." of smelL “We learned about pollu- 


She said she discovered the Gior- 
io seem by accident one day' while 
obbling around her office on 


wearing the perfume and telling 
others about it. 

In December the Haymansh*- 


u. , cocktail waitress in the Ren- 
£££■«» “1 SWto ha £ 

STshewasaNewYotowhs 

Ok American School of Bafljj be- 
moving to California with her 
mother, unaspiring actress. 


white stuped packaging based on said. It s bow we became aware of 
the store's famous awnings; a S6 odors, in a negative sense." 
million advertising campaign that She said that such fragrances as 
included both direct mail and Opium, Oscar, Chanel No. 5 and 
“scratch and sniff advertisements Lauren were also extremely popu- 
in 40 magazines; the Haymans* de- lar, but that what sets Giorgio 
dsioo to run the business them- apart is its cachet. “Things in ufe 
selves instead of licensing it, and just capture the imagination at a 
the fragrance's success at Bloom- certain moment, like the Mustang 
ingdaJes. car or a certain wine, ami you never 


the sample bottles inside. The re- 
sulting scent was “divine." she said. 
“I knew I had wtaat I wanted.” 


I an ew a UdU wuni a vuuiuJt r . fftiir- 

The fr agranc e was launched in 0 f the women's fragrance, a iour- 
November, 1981, at a black-tie par- ounce crystal flask costs S3 5. 


scent- “The beginning ^ ro leYto former wife finish h* 

Havman said, adM! * 1 ® -1T.af S because he's 

Zsr She said wish a iaugb. 


of the women s iragranu: ^ *v ^ lwo often travel entertain 

u „ — _ ... . ounce crystal flask costs *»• and have dinner together, but stay . 

non to nm the business them- apart is its cachet “Things in Gfe ty for 1,200 in a huge yellow and ^ dayman disclosed that she ^ se p araie hotel rooms. Neithe# 

Ives instead of licensing it, and just capture the imaginauon at a white striped tent in a parking lot wor y n g 0n a second fragrance, has rraanied, but both have new 

e fragrance's success at Bloom- certain moment like the Mustang across from the Giorgio boutique. ^ comes up with a n ?m an ,; r attachments, Mrs. Hay- 

gdale s. car or a certain wine, and you never Ji was catered by five leading Bev- cheaotfr imitation of Giorgio that ^ 

“But first and foremost is the know why," she said. “It's like love, erly Hills restaurants, with the tOU- diminishes the original “or if any- 

ent," Mrs. Hayman said. “People and the big question is. ‘But will it piece Beverly Hills High School th - ^ happens to make it a Speaking of their decision to stay 

ally like it. and it lasts and lasts." last? " inarching band providing a half- roQJ | fragrance” hi business together, Hayman said; 

includes 200 ingredients, she The Giorgio seem, according to time show. The master of ceremo- Swil _ -Business is business, and personal 

id. but the four that dominate are Mrs. Havman, took two and a naif nies was Merv Griffin, who Hayman, ami “ lift . •« nersooaJ life. It is not easy. 


■^ 11 ^ 

iSsPJS-H&S 


paying SI 50 an ounce, it shouldn ( 
just disappear after an hour." 

Giorgio, as anyone with a nose 
knows, is everywhere. Farrab Faw- 
cett wears it, Jacqueline Bisset 
wears it, even Midtael Jackson 
wears it It has become so recogniz- 
able that doormen and cab drivers 
have been known local) out “Gior- 
gio" when women wearing it walk 
by. 

Last year, the three-year-old fra- 
grance with the strong floral scent 
bad $60 milli on in sales in about 
180 stores, four tunes the $15 mil- 
lion it brought in in 1983. That 
made Giorgio the industry's hottest 
seller since Revlon introduced 
Charlie in 1973. This year, the Hay- 
mans expect sales to top $100 mil- 
lion. 

Lester Gribetz, executive vice 


scent," Mrs. Hayman said. People and the mg question is. But will it 
really like it. and it lasts and lasts.” lastT " 

It includes 200 ingredients, she The Giorgio seem, according to 


Ravrnan added “When vou’re R includes 200 ingredients, she The Giorgio seem, according to 
itSdnT said, but die four that dominate are Mi*. Hayman. look two andThalf 


the mis of gardenia, tuberose, rose years to develop, years in which she 
and j asmin e. smelled thousands of fragrance 


crooned the fragrance’s theme zerland. 


song, “You Know Who Wears II” 




hard uT&SS? HUbtalbi but lh« uclher * 

SwwSS wta he P Gale bottom Uoe is tot tt baa worited so 


Another reason for Giorgio’s samples. Her only previous expert- The guests included Charles Bron- early * married, l0 far 

ceess, according to Annette race in the perfume business, she son, Lome Greene. Stephen Bur- Miller, whom he later mameo. to 


Foreigner: Behind Rock Band Hype. 
There Are Four Personable Guys 


. \> 




By Michael Zwerin 

huemaaotud Herald Tribune 


now or soon will be recording in 
Paris. And Foreigner’s musical di- 


four people who understand their 
talent operate efficiently within its 
limits, and genuinely believe they 


P iARJS — Transplanted US- sector. Mick Jones, spent seven limits, and genuinely believe they 
type bype-rockmogramming is years playing guitar behind Johnny have not sacrificed their “genuine 
in fifth gear at 4 A. XL in the au- Hally day. musical commitment. Bury the 

dios of Paste Paririea,FM radio on Hold on! Stop the presses! The hatchet, 

the Champs Hys&s — - “iusl 100 recoil company vice president an- Mick Jones: "We re very proud 
yards from the world-famous Arc ounces that “1 Want to Know that we never depended on hype, 
dav Tree-umn folks, the latest For- What Love Is, the fust single from We have channeled everything into 



mm 

y-. 7 


success story like Giorgio." 

How did the fragrance come so 
far so fast? For one thing, it had a 
built-in cachet through its associa- 
tion with Giorgio, the chic Beverly 
Hills boutique Hayman founded in 
1961. The shop was the model for 
“Scruples” in the best-selling novel 
of that name by Judith Kraoiz. 




Pi 


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Vive ie rousqoe — via JNdL to ,r 1 "2“* , “ “ 

200 affiliated U S stations (“maxi- has never had a No. 1 single. Musi- our first video, for example. One 
mum market penetration for this cians. technicians, executives, the thing I like about music is that it 
promotion”) from Abilene to and miscellaneous insom- allows listeners to work out their 

Youngstown. macs in the studio act like it s the own images. Video oversaturauon 

c - u—* Holy Grail. “The elusive thing," can be harmful — you're laying a 

Why Foreigner? It has been Joks ca Q 5 j L “And we've trip on the public and it may not be 

a journeyman oumt, ^ j t ^thout having sacrificed the one they want. I don't mind 
iaceie« supergroup, a coroo- QUr genuine musical commitment.” using the visual medium, but lei’s 
raw rock" band - exaedy riband known for recycling not overdo it Anonymity is impor- 

album riacks as tq>40 shJS taut to us. Eventually I’d like to 
Sf Other tracks will soon be lifted write books. I’ve got ideas tucked 

be called ditto. from “Agent Provocateur" like away on little pieces of paper if I 

Foragimr al bums ba escMfl a from a Mercedes parked near can ever find them in one or anolh- 
^ t « l*«i Idler. He kirt U lo cr of my .puimenis.- 

4 «» *a££ 2 SLr* “ pJS^7 ab0UI lhe m prac 


: thing," can be harmful — you're laying a 
id we’ve trip on the public and it may not be 
iacrificed the one they want. I don't mind 
litmenL” iLsing the visual medium, but let’s 
recycling not overdo it Anonymity is impor- 
suiglcs. tant to us. Eventually I'd like to 
be luted write books, fve got ideas tucked 


\ 


Mick Jones (left), Lou Gramm of Foreigner rock group- 



it. we get shivers down our spine” “I’ll say, “Wait wait,'” laughs 
Jones (British) and Gramm Gramm: “Fve heard some of our 
(American) co-write the songs. Are best ideas on fast-forward." 
they bothered by a “culture gap”? The dr umme r. Dennis Elli 
The bassist, Rick Wills (the been taking it all in, having a 


| the chans. But why pick on them? There is Lou Gramm: “You have to look 

Why broadcast from Paris? The nothing new about music as a prod- out at lhe craziness all around you 
i album’s French title, for one t hin g; Watching the secular machin - in a business like this and cane 
energetic hustling all mound, and ^ dose up has something to do your own handle on the situation. I 


What about the circus in Poste group insists on collective inter- 
Parisien? views), leans back with an infec- 

Lou Gramm: “You have to look tious smile and answers for them: 
it at the craziness all around you “Mick wiU come in with, like; six 
a business like this and cane cassettes full of material and play 
w own handle on the situation. I them and if he doesn't see an imme- 


the 10-cent franc, which is m aking with it Foreigner’s "hammering was wondering what I was doing diate reaction from Lou, or from 
ftris a recording mecca. Herbie thump-rock cliches [with] brassy there, wondering who all those peo- us, beTI sort of spin on right away, 
Hannv'.t MiIm Davis, the Rnllinp *r\ l.-i,, ™ _» i m-. t i » i C _a._. 



Hancock, Miles Davis, the RoIHng lO p ^40 hooks, revving up weepy pie were looking at me like I was in 
Stones, Stevie Wonder, Nina Ha- ballads with expansive progressive- a fish bowL I wondered what they 
. gen, Eurythmics and the Thomp- gestures" (Rolling Stone mag- were thinking. You’ve got to con- 
son Twins are just some of the azine) may be the cliches that broke centra te on what you’re doing and 
people who have recently been, are Lh e critic’s back. be aware of what’s going on around 

: 7-| Listen to the album again. The you at the same time. It’s tricky. 1 

■ songs may be syrupy but Gramm’s had to leave the studio to compose 
voice projects an attractive urgen- myself for about 15 minutes in the 
cy. My 9-year-old Idd likes it and middle there. 1 gel stage frigbi at a 


and you’re stunned with what 
you've heard and haven’t had a 
chance to react to it So we have to 
tell him, ‘Move it back there. Let’s 
hear it again.' " * .... 


nest ideas on iasi-iorwaiu. i 

The dr umme r. D ennis Elliot, haj|K: 
been taking it all in, having nothing' 
to say saying nothing. Wills points . 
to him and says: “But you know the 
drums are really the most essential 
part of the music. The time is the 
foundation. Everything else de- . 
pends on that.” 

“One thing that really bugs me,” 
Gramm concludes, looking not 
bugged at all, “is this ‘corporate 
rock' image we seem to have. I 
know how this band works, and it 
certainly isn't like a corporate-, 
boardroom.” 


be likes Ray Charles. 


concert but at least then you know 




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The next afternoon there are why the people are there — to listen 
four personable feDows with honest to the music. It’s nice to be on the 
smiles and eyes that look into charts but that’s not the point, 
yours, who speak like they mean Really noL Our point of reference 
what they say and seem not to be is always to strive to do something i 
fooling themselves or anyone else, from which, when we listen back to 


Two 3 * Restaurants in U.K., 
But Good Tea Harder to Find 




C tproiiae fur Talk* 
I- *v«u ii Jkitfu* 




r^rV? F—I™' WdJk Cm I 


immil Leaders Vow to Puh 
k* an Economic Recover* 



I JL Hwm-rn'f Pwn 




The Associated Press 

P I ARJS — The British now have 
two three-star restaurants to 
tempt their palates. The 1985 edi- 
tion of the Micheiin guide for 
Great Britain and Ireland lists the 
Waterside Inn, in Bray-on-Thames, 
at the dining summit where it joins 
Gavroche in London’s Mayfair 
quarter. 

The inn is run by two French 
chefs, Albert and Michel Roux. 
The Roux brothers also own Gav- 
roche. the first British restaurant to 
get three Micbelin stars (in 1982). 

Three stars means the restau- 
rant’s cuisine is exceptional, worth 
a special journey. 

The Waterside Inn, 20 miles (32 
kilometers) from London, offers 
lobster-stuffed ravioli and filets of 
young rabbit with chestnuts. 

■ Good 'Cuppa’ Gets Scarcer 
It's hard to find a good cup of tea 
in, of all places. Britain, says food 

DOONESBURY 


M HN6f 
fW6! 


i\y 

-<7I 


«WT/JH6WK 
m rrspROB- 
/mm-pcsr 

AGAIN! 




To: Prank Seward. European Sales Director 
Johnston International 

2 Pear Tree Court. London EC1R ODS, England 
Pm interested! Please send information on: 

□ ALAM ATTUARAT 

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critic Egon Ronay, according to 
The Associated Press. 

"The good old British cup of tea 
is a very rare commodity," Ronay 
says in lhe latest edition of his 
guide, “Just a Bile," published 1 
Tuesday. 

The search for the elusive good 
“cuppa." as the Briash call their 
favorite beverage, took Ronay’s in- 
spectors to places normally outside 
the scope of the guide, such as Lon- 
don fruit, fish and meat markets, 
all the mainline railway stations, 
taxi shelters and mobile tea bars. 

“Disappointing tea in most of 
the otherwise excellent light meal 
establishments seems to be the or- 
der of the day," the guide says. 
Taking on another British staple, 
Ronay also noted a decline in good 
fish and chip shops. 

They’re giving way to “the rela- 
tively new-fangled, sawdust-type 
hamburgers in cotton- wool buns, 
an imported infliction,” Ronay 
complains. 


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Statistic* Index 


%y 


***£* Prices p.u 
*«EX htvhwiowP.il 
NYSE or lies p. g 
NYSE khlwieii p.ig 
Cw **flan Wotta P.14 
Currwcy rates P. 7 
CPfnmoclIjiej pig 
^QWlhml* p., 0 


EanH npi /worts p. 9 
™ra rote nofu P.li 
Q aW ntc rteti p. 7 
•nierea rates p. 7 
**1* swnmary p. 1 
°*l»* P.10 

OTC stodr P.U 
Other markets P.14 


Hcmlb^s^Sribunc 


BUSINESS/ FINANCE 



U^S. Stocks 
Report, Page 8. 

r^Pi 


gUTURES AND OPTIONS 

Modem Arbitragers Are 
In Truth, Simply Bankers' 


By HJ. MAIDENBERG 

■Vw York Tuna Serna 




N ^w "7 Y^F***' stockbrokers or analysts are 

? ? tass to explain brief but sharp price movements, as 
rccCDa - v ’ many of them attribute the 
the equally csmeric * 



WwL of ***** equities markets. 

AYttaa 



at slightly different prices in 
two markets,” said 13. Krim, 
senior vice president at Roth- 
schild Inc., ibe New York 
branch of the international 
banking house, which only 
handles institutional business. 

But this is not the way the 
“arbs" operate today, Mr. 

Krim nuiptlii 


f C ommgnicati on8 lias 
made price 
differentials short 
lived/ 


Krim quickly added, “because modern communications has 
made such price differentials extremely short lived. In truth, we 
arbs today are simply bankers. The price differentials we work 
with are interest rates, regardless of what stocks or index market 
3%we trade in." 

Martin B. Boorsttin, another Rothschild senior vice president 
Save one simple example: 

Suppose our borrowing cost is 10 percent and we have used 
these funds to buy stocks similar to those represented in the 20- 
share Major Market Index futures on the Chicago Board of 
Trade. If we can sell MM1 futures against these holdings at prices 
that are more than the 10-percent borrowing cost it would be a 
classic and ideally profitable operation.” 

How? Fust the “goods” were bought and sold in two markets 
(the stock and index futures markets) and at different prices. 

RmMm Kvvinn In affant .1 J-I- ■ r .i 



■*: 




«. ; w 


■ . . .vuu* 



price decline in the basket of actual shares held. 

But it never is as ample as that Mr. Krim noted, because of a 
number of factors. For one, aQ arbs closely watch the same 
interest rate-price structure. Also, there are the important divi- 
dend and timing factors. 

F OR example, Mr. Boorstein explained, the stocks measured 
by the MMI index used in his illustration had a total 
dividend yield of 4J3 percent Friday. Equivalent dividend 
yields on other popular indexes ranged from 4.2 to 5 percent. 

£$ Whether these dividends can be captured by the arbs depends 
on the timing of their operations. Most stock dividends, Mr, 
- Boorstein noted, are payable four times a year: in February, May, 
August and November. Thus, the aib must weigh this dividend 
income against the cost of money, which in turn may be based on 
.* the rates currently offered on Treasury bills, as well- as the 
expiration dates of the futures contracts to be sold short 
If the arbitrage operation involved dm MMX options traded an 
the Am e r ican Stock Exchange, the cost of the put premium would 
replace the price of the futures in calculating tire potential 
profitability of the deal Puts are the right to sell the underlying 
stock and save much the same purpose as selling short 
“Above all, we weigh the cost of the money we borrow against 
the potential dividend income, the price of the forward futures 
and, in the case of index bp dons, the cost of the premium,” Mr. • 
Krim said. 

There axe three important aspects that must be observed in 
arbitrating, Mr. Krim said. “One is that (he arbitrage business 
can only work in lively markets. In duD periods, time can only 
work against you, especially in the futures and options markets. 
Second, arbs rarely take positions without first deciding on a 
profit goal. Arbitrage is not an open-ended affair” 

Third, he said, because of thtir ample credit and toe large sums 
that they work with, arbitragers are usually content with many 
very slim profit margins, often no, more than 1 percent or 2 
percent, on operations that may last a few minutes or days. 


Currency Rates 


] 


tale interbank rates on Feb. 4 , excluding fees. 

Official fixings for Amsterd am . Brussels, Frankfurt, Milan, Pure. New York rates at 
2 PM. 


Ger 
Jobless 
Increases 

January Rate 
Is a Big Jump 

Compiied by Our Staff From Dnpcudta 

NUREMBERG — Unemploy- 
ment in West Germany soared w 
January, with 2.62 million workers 
idled, compared with 233 million 
in December, toe federal Labor Of- 
fice said Monday. 

The total not adjusted for sea- 
sonal differences, represented 10.6 
percent of toe work force, com- 
pared with 9.4 percent in Decem- 
ber. 

Seasonally adjusted unemploy- 
ment rose to 229 million last 
month from 233 milli on in Decem- 
ber, the office reported 
The unadjusted figure was up 
from 154 million in January 1984, 
when the figure was 103 percent of 
the work force. The adjusted job- 
less total was 2.19 million in Janu- 
ary 1984. 

The agency said 294326 West 
Germans became unemployed dur- 
ing January, pushing toe country's 
jobless rate to 10.6 percent from 9.4 
percent in December. 

In announcing the record unaa- 
pioymem figure Heinrich Franke, 
the Labor Office president, put 
most of the blame on what he 
called an extraordinarily severe 
winter and a lack of orders m the 
construction industry. 

He said that the surge in jobless- 
ness, which be called unprecedent- 
ed since the post-war reconstruc- 
tion year of 1 948, was a “temporary 
lapse” but one that would take 
some time to repair. 

Publication of the unemploy- 
ment figures coincided with a fore- 
cast by the Munich-based econom- 
ic research institute, 1FO, of a 
slight decline in average 1985 un- 
employment from 237 million last 
year. 

It said nuxto of the decline would 
be due to the effects of early retire- 
ment schemes and shorter working 
hours. 

It forecast no significant increase 
In the number of new jobs. 

The institute said that orders in 
hand in the construction industry 
fefl in December to an average 1.8 
months from 25 months a year 
earlier. ' 

The bad news came just days 
after Economics Minister Martin 
Bangpmann unveiled a government 
economic forecast calling for un- 
employment to slip below the 2 
nriUion level tins summer, 

• Particularly hard hit were the 
weather-sensitive construction and 
coal mining industries were the 
number of weaken placed on cur- 
tailed shifts rose in January by 
197,611 k>465,977. 

On the bright side, the number of 
open job listings rose by 7,495 dur- 
ing the reporting month to 87,468. 

(UP I, Reuters) 


Artes an Investment: Comparisons WHh Other Assets 

S a Uch^ t nn fl«>l»ap dfln nacl a f w ete era rsnfced by coropopoderongiM rattans for the pertode 
1.1 PU4.7TI N Minimi co mp otmuri— in Of Co nu nwrPricqfaidax 
loirtGfuMoior cofl^flnMvt. 

One Year 


Five Years 


(MUteNn 

+14-3% 

Tr— oonrUte 

+ 9 At 6 

CotM 

+ 74% 

1 tawing 

+ fi«% 

Chtamffiiwfcw 

■f- 3 0% 

rrMiniMta 

D 

OR 

0 

Forentaml 

- 0.7% 

Stocks 

- 12% 

ForatgaEseiumas 

- ao% 

GoU 

- 4-0% 

UjS. Stamp* 

- 4.0% 

Bcmfs . 

- 7.2% 

Saver 

>25.2% 


lO Years 


CMmm Cerastes 

+15.7% 

Cotoe 

+21.4% 

Off 

+14.6% 

OS-Stenpe 

+17.1% 

Stacks 

+115% 

TraosoryBBto 

+10.1% 

Treasury BUIt 

♦12.7% 

OB 

+10.1% 

Cotas 

+11 3% 

OtaMomta 

+ 9.8% 

UAStapjpe 

+ 9-8% 

Ctokf 

+ 9.5% 



Fsnnlsnd 

+ a+% 

OaU 

+ 7.4% 

(MUtetat 

+ 9.1% 

Otamands 

+ 6.1% 

BteDks 

+ 9.0% 

Houston 

+ 5-8% 

*»- — ■ — 

+ 8.8% 

Baade 

+ 4.8% 



Ftantaod 

+ 3-3% 

Silver U "' 1 

♦ 7J2% 

Stoer 

+ 2.4% 

Boode 

+ 8^% 

OM Hesters 

+ 1.5% 

ftenessCsrasdcs 

+ 5.9% 

Foratgn Exchange 

“ 4Jt% 

ForatgoEsehenge 

+ a 9% 


ThsIWwnMtrm 


Sotheby’s in a Changing World: 
Financing With Art as Collateral 


By Matylin Bender 

New York Tu 


Tunes Service 

NEW YORK — The fight for control of Soth- 
eby’s, the London-based auction bouse, was one of 
the more intriguing takeover contests of 1983. 
however trivial it may have seemed in tarns of 
numbers. 

It pitted a pair of turnaround prospectors, Mar- 
shall S. Cogan and Stephen G Swid, cochainncn of 
General Frit Industries, a New Jersey carpet and 



white knjgbl from Detroii A Alfred Taub- 
roan. a leading developer of shopping malls. 
Observers wondered what such hi gh-stakes 
saw, besides cachet, in a business that was 
_ $4.6 mflhan (£4.11 million} before taxes on 
revenues of S805 nriHion. 

A year and a half into the Taubman regime. 
Sotheby’s —now a private U.S. corporation with 
twin headquarters in London and New York and 
60 offices worldwide — looms large amid the 
ferment in the once-rarefied business of art. 

According to its new owner, Sotheby's, the 
weald’s largest auction house, is running in the 
black once more, a beneficiary of more aggressive 
marketing and a two-year boom in art and an- 


tiques that has brought miHion-dollar prices at 
major auctions. 

Sotheby’s is at the edge of change, whereby an 
— hitherto regarded as a passive source of wealth, 
a tangible but not liquid asset — is being treated by 
some leading money-center banks and smaller fi- 
nancial institutions as an memtnwnt of high fi- 
nance. 

Before the transformation is completed, a paint- 
ing could become more like a house —apiece of 
property to be enjoyed not only for its esthetic or 
sentimental value, but for its borrowing power. 

Perhaps that was inevitable given toe vast rede- 
ployment of assets taking place in the U.S. econo- 
my in recent years, with corporate takeovers and 
leveraged buyouts accommodated by bankers. 

“As you look around world stores of value, there 
is really only one that has not become leveraged — 
the whole field of collectibles," said Robert S. 
Salomon Jr., director of stock research far Salo- 
mon Brothers, a New York brokerage. 

Citibank is conceded to be the Trader among 
banks financing art 

“We are prepared to look at art as the basis for 
some moderate leverage for a client, usually an 
entrepreneur," said Stewart B. Clifford, senior vice 
(Continued on Page 9, CoL 1) 


Dollar Surges 
On Expectations 
Of Higher Rates 


The Associated Press 

LONDON — Pushed up by ex- 
pectations of higher UJS- interest 
rates, the UJ3. dollar reached re- 
cord highs against the French franc 
and Italian lira in active trading 
Monday. 

Gold prices fdl 


Gold was quoted in London at a 
late bid price of $30130 a troy 
ounce, down from S3G335 late Fri- 
day. 

■ UJS. Policy Appears Same 
US. Policy on currency inter- 
vention appears to have bandy 


agh against the Deutsche mark, a ■ ^ «- 


7-year high against the Swiss franc 
ami a 13-year high against the 
Dutch guilder. 

Currency dealers said the market 
was dominated by large corpora- 
tions that were buying dollars on 
the conviction that UJS. interest 
rates had bottomed out and would 
be driven higher as the large UJS. 
government deficit forced heavy 
public borrowing. 

The dollar’s strength de- 
spite intervention by the West Ger- 
man central bank, the Bundesbank, 
which sold $100 mSBon on the 
open market, and by toe Bank of 
Japan, which sold $100 million to 
$300 milium, dealers said. 

In Tokyo, the dollar dosed at 
259.1 Japanese yen, up from Fri- 
day's 255.45 yen. In later London 
trading, the dollar was quoted at 
25935 yen. 

“I don’t think the market’s eu- 
phoria about the dollar can be bro- 
ken by intervention, whatever its 
size," said a trader in Frankfort. 

In London, the dollar was trad- 
ing at $1.1 143 to toe pound, against 
Sl-1245 late Friday. 

Other laic rales in Europe, com- 
pared with late rales Friday, in- 
cluded: 3.1968 DM, up from 
3.1725; 2.7343 Swiss francs, up 
from 16935; 9.765 French francs, 
up from 9.705; 3.618 guilders, up 
from 3.5895; and 1,967.60 lire, up 
from 1,956.80. 


issue two weeks ago, Reuters re- 
ported Monday from Washington. 

Foragn-etchange dealers said 
that UJS. authorities have inter- 
vened in only token amounts since 
the meeting, while public state- 
meats by U.S, officials since then 
have left a confusing impression 
over what, if anything, the United 
States agreed to change in talks 
with its principal economic allies. 

European monetary sources said 
Washington tod agree to shift its 
policy, but they stressed that the 
commitment h *d not been translat- 
ed into action. 

Nigel Lawson, Britain chancellor 
of the exchequer, also insisted there 
had been a change of heart by the 
Americans. 

Though the Federal Reserve, 
which undertakes intervention on 
behalf of toe Treasury, has been 
delected intervening in small 
amounts in the past two weeks, the 
impression in currency markets is 
that there has been no fundamental 
policy shift. 

Deputy Secretary R.T. McNa- 
mar said there was a growing con- 
sensus within toe Treasury that in- 
tervention might be appropriate to 
counteract disorderly markets, but 
he also said that “if the US. contin- 
ues to emoy an advantage over 
more rigid, less flexible European 
economies, we will continue to out- 
perforxn |Europc] until it changes." 


Rise in U.S. Exports Lessens Fears ol Being Uncompetitive 


By Nicholas D. Kristof 

New York Tima Service 

NEW YORK — Amid the na- 
tion’s anxiety about becoming un- 
competitive m world markets — a 
fear intensified by the S123-biHion 


the atteauon. But other sectors are 
booming; Computer exports, for 
example, rose about 28 percent last 
year and broadcasting apparatus 
roared 20 percent 
To be sure, the resurgence in 


trade deficit reported last week for a substantial 

1984 — UK exports are rising ^dip-iir 1982 and 1983, and total 
again after a two-year pause. 

Especially in high techno ! 

UK ajmpahies showed they 
overcome the adverse price effects 
of a rising dollar, and still sell more 
products abroad. Exports rose 8.7 
percent last year, although imports 
outstripped them by jumping 26.4 
percent and producing the record 
trade deficit. 

Troubled exporters, such as Cat- 
erpillar Tractor Co., of Peoria, Illi- 
nois, winch have had to slash em- 
ployment because of faltering sales 
and mounting losses, gel most of 


exports are still bdow their peak in 
1981. And some companies are 
maintaining their sales abroad at a 
cost of dwindling profitability. But 
it is a source of some satisfaction 
that foreign sales have increased 
despite a sharp rise in toe dollar 
that has made U.S. goods mare 


expensive abroad. - ' 
Tbe dol 


dollar rise is noL the only 
reason for the trade deficit, howev- 
er. 

Economists typically attribute 
one- third to two-thirds of the defi- 
cit to other factors, such as faster 
economic growth at home than 


abroad. Moreover, it is often said 
that some traditional sectors of the 
UK economy are no longer com- 
petitive abroad, even aside from 
exchange-rate issues, although the 
companies involved dispute this. 

• Newer industry gn»ps, such as 
producers of business machines, 
scie ntific equipment and electronic 
machinery, were among the most 
important beneficiaries of in- 
creased exports last year. 

In those sectors, there often is no 
exact foreign eqmvalenl of the UK 
product, which means that they 
may still seD even if a rising dollar 
makes them somewhat more ex- 
pansive. And, like other exports, 
they benefited from the genera! im- 
provement of the world economy. 

The improvement suggests that 
U.S. manufacturers have been 
forced to pare costs and improve 


efficiency, winch will benefit them 
in the long run. But not everyone 
would agree that this is the case. 

“People are saying this is malting 
American business leaner and 
meaner," said Howard Lewis 3d, 
an econonhst for the National As- 
sociation of Manufacturers. “But it 
can become only so lean and so 
mean. After a point the patient 
crosses a fine and is no longer mean 
and lean. He's dead." 

Some companies certainly have a 
hungry look about them. 

Construction machinery exports 
are down 41 percent since 1982. 
Fuel exports have dropped 28.7 
percent. Exports of industrial sup- 
plies are off 14 percent. 

Moreover, these figures may un- 
derstate the economic pain. Many 
companies say they have tried to 
majnigfn market shares abroad by 


cutting prices. Steady exports thus 
may not mean steady export prof- 
its. 

“We’ve maintained, or in some 
cases increased, our tonnage” of 
exports, said George D. Kennedy, 
president of International Minerals 
& Chemical Corp-r of Northbrook, 
Utiflois. “If you look at our margins 
or our profitability, that’s another 
story, we’ve had to cut them to 
make up for the strong dollar.” 

The levitating dollar, which has 
risen about 60 percent in the past 
five years compared with most oth- 
er currencies, is blamed by many* 
exporters for their troubles. After 
treating its rise as an anomaly, and 
waiting forh to fall, many are won- 
dering whether perhaps it wfll stay 
high. Some say they may lose pa- 
tience soon and move more opera- 
tions abroad, where costs are lower. 


AnuTwAun 

BnKMfcCa) 



CM 


IWYMtW 

Part* 

Ttfrro 
Zorich 
I ECU 
1 SOU 


s 

3*18 

*3-9*25 

3.1MR 

1- Wtt 

1.967-60 

9J45 

259-18 

2- 73*3 
0-6955 

osma 


c 

4*45 

71.515 

3ST3 

2.197*0 

uws 

1051 

209.13 

3*473 
1 UZB 
0*4*19 


DJW. 

10.15* 

20*1 

15813 

*13*0 

laws 

10536 

8070 

8S275- 

U24* 

170209 


F4=. 

37*7* 

0551 

»755* 

109215 

201*8 

9*39 

26*4 
27.935 * 
6J951 
9*7571 


IU. 
01*41 
3*345* 
1*27 x 
2.1*650 

V. 978*0 
*968 X 
1118* 
01388 
1*67*7 
1.909J6 


OUr. 

17587 
88*73 • 
4JB495 
54351 
IMS 
259B4 
7U6 
73*43* 
2517 
35108 


a_p. 

5557* 

350- 

7153 

30721 

6453 

1S386* 

403*0* 

*285* 

445003 

Mnp 


OF. YM 
13251 *13952 y 
23 M 2*703* 
117.1* • 1235* 
3*523 289*15 
71350 759 

2**35 239 JO 
3577 3L774* 

MSB 

1*546* 

1.98 180*57 
2*491 249569 


Eqolv. CwrBDC,f 055 
0*816 xvxtraiSoa o 12475 
I 8*444 AlNtrtM kMBm 72*1 
8*156 BfeMmflLlnm: 64J0 

074M C a nadian I L334 

0JDB74 DanWlkrM* 11512 
CU5BJ RMftklW* 4545 
MBIT Qu o * , amchiwn 129*3 
0.128 KMOKMaS 7*1 


Dollar Values 

1 Qmimof P,f 

Eart*. 1*55 

un liWiC L0183 

00015 l«ro*n stake) 68030 

32552 KmUldUr 03072 

0J977 Motor, ntowrfl 25145 

0.1083 Mgr*, krone 9233 

0*534 PMLMSO 18*49 

BJDOSB Part.MOXb 173*8 

02792 SnstfrtvU 3581 


EqpW. tUU 

04487 SllOToni 22215 
0503 S. Africa* read 1.999 
0*813 S. Korean *M 833*5 
0*057 sm.mh ma> 
01097 Swad. kima 9.119 
8*2S5 Taiwan I 39.14 
0*363 TWMM 27545 
82724 UJLE.Mrh*a 35715 


i Moflhv2l.t*K Irtfic 

fB)Cemni«rtiri1riaietb>Aiiriix*4sniOdoil1oliu»«i(nBB«iu«11cJ AracwitiiieadwltthuvwNiWtort*! 
Units Oi HI6 (xl UnMof 1*00 Ivl Units U HUM 
MA: not ousted ■' UL not avaUstite. 

Sources: Benauo db MawAor tBrvssoMJ Bunco Commerctafo Ito/iono iMltonH OmuictU 
Bunk (NOW York}; Bonqum NuHamUm do Paris IParto); IMF {S OBI; Bonn* Anno of 
UUornaHerkaa d'lnvmst/ssemcat (dtnar. rival MrUom). OMueOatoBnun Ronton tuvSAP. 




Interest Rates 


] 


Eurocurrency Deposits 


Feb. 4 


IM. 

2M, 

3M, 

ML 
IY. 9 


Dollar 
m - ate 
m -9 
BH-Ih 
9K. - 9 lb 
W - 9*. 


a Marti 
16-18 
64k > 64b 

ate - 4U 
6 tb - 6 fb 
Oh . 6H 


Fnmdi _ 

Franc startteo Prane ECU SDR 

59b -SSb 13 lb- 13 9b 10 *b- 10*8 10 - 10«b 81* - OKr 

5Vb - 5W. 13«I ■ w% 10 «b. IM to - 10 w BH • 89b 

5 *b ■ 5 9b 13te-1M I01b- 164b 10 - 189b Rk - 14b 

51b - 54b 1246 ■ 1396 11 - 11 *b 10 - 10*. 89a - 84b 

SVi -54b 12IA- 1248 1146- 119b 94b - W«W Wb . 9Vb 


Ofrtrr n n r n c™ f ' i * a* muwtuuit tMaosMs of SI million minimum (areuutvtUontl. 

DM. SF. Pound. FF>; ucv* Bunk teems a monk 

(SORl. 


Asian Dollar Rates 


Feb. 4 


846 >898 
Source: Routers. 


2 mov 
84 b -8 4 b 


3IIM&- 
8 4b -9 Ik 


iHK. 

9 lb -9 1b 


GMQuarterOff, 
Year a Record 

Reuters 

DETROIT — General Mo- 
tors Corp- reporting lower 
founii-quarter earnings but a 
record foil-year net, said its re- 
sults for the final period of 1984 
was hurt by strikes in toe Unit- 
ed Stales Mid p an a da. 

GM reported earnings of 
$877 million, or $2.71 a share, 
for the quarter, down from 51 J 
billion, or $4.11 a share, a year 
earlier. 

The company reported full- 
year earnings of $4.5 billion or 
SI 4.22 a share. Its previous re- 
cord was S3.73 bOhon. in 1983, 
while the record for earnings 
per share was S 12.24. earned m 
1978. 

Tbe company said strikes by 
the United Auto Workers that 
disrupted production in the 
United States and Csmu/Hnn 
late in the year, and (he IG 
Metafi strike in West Germany, 
reduced its net earnings by 
about $450 million. 

Tbe company said its overall 


ally, to SA percent, in 11 
from S percent in 1983 while 
capital spending rose to $6.05 
billion from S4.01 billion. 


Less Urgency, Less Rhetoric Expected at Latin Debt Meeting 


By James L Rowe Jr. 

Washing! an Past Service 

WASHINGTON — When Latin 
American finance ministers and 
foreign ministers gather in the Do- 
minican Republic on Wednesday 
to discuss common approaches to 
their debt problems, tone will be 
less of tbe urgency that sparked the 
first such gathering last June in 
Cartagena, Colombia. 

Interest rates have subsided, the 
UJS. economy has regained mo- 
mentum and many countries' ex- 
ports to the United States have 
soared, enabling them to genera te 
dollars to pay their debts with less 
strain on then- economies. 

Nevertheless, almost three years 
of economic trouble and austerity 
have taken their toll on Lat in 
America. And although the biggest 
debtors, whose collapse would have 
threatened the world financial sys- 
tem, now seem able to jay their 
international debts, then econo- 
mies and workers will remain un- 
der heavy pressure. 

Last June, and in September, 
when the “Cartagena Group" met 
in Argentina, tbe foreign ministers 
and finance ministers complained 
about rising interest rates — each 
1-pereent efimb in rates costs Mexi- 
co, for example, $700 million a year 
— and about bank and UiL eco- 
nomic policies. 


Now rates have fallen (though 
not far enough, the countries say) 
and banks nave agreed to better 
terms by reducing the spread be- 
tween miat they pay for deposits 
and what they charge borrowers, 
and by stretching out repayments. 
Thus the debt and economic prob- 
lems will be discussed in a far less 
“rhetorical” atmosphere, one Latin 
American economic official said. 

Argentina has finally reached an 
accord with its bank lenders and 
tbe International Monetary Fund. 
Most observers, including many 
Latin American officials, felt that 
Argentina had used earlier meet- 
ings to politicize the debt issue in 
an attempt to at better terms from 
its lenders and more leniency from 
the IMF cm tbe economic changes 
it requires as a condition of aid 

But if tbe atmosphere of this 
meeting will be less politically 
charged, the issues that the debtor 
nations most face wiD still be diffi- 
cult 

Many economists worry that the 
debtor nations will weary of the 
IMF “adjustment programs," the 
austerity measures they have taken 
to build up thdr international posi- 


tions, eliminate the need to borrow 
and reduce inflation. 

As a result of such 
Mexico, Brazil and V< 
latter undertook its program with- 
out an IMF i mprim atur) have man- 
aged to build up a huge supply of 
dollars to guard against the situa- 
tion they found themselves in near- 
ly three years ago: out of reserves 
with big foreign bills to pay. 

But that improvement came 
mainly at the expense of their 
workers, although thdr bank lead- 
ers swallowed some erf the cost 

Despite huge increases in unem- 
ployment and a sharp slash in the 
standard of living, the major debtor 
nations except Argentina, which 
has just started its program, man- 
aged to adjust without the major 
political and social disruptions 
maw 


and Brazil, each with 
about $100 bflijon in foreign debts, 
have began to try to “combine ad- 
justment and growth" for the fu- 
ture. as Mexico's director of public 
debt, Jose Angst Gurria, put it 
After steep recessions in 1983, 
economic growth resumed in both 
countries last year. Mexico's real 
economic output grew about 3 per- 


cent and Brazil's increased about 4 
percent — rates far lower than they 
achieved when foreign funds were 
plentiful and could be used to sub- 
sidize consumption and invest in 
development to create new jobs. 

But Brazil's growth came about 
because toe military government, 
defeated in elections last month, 
was willing to tolerate or unable to 
control inflation at 200 percent, big 
budget deficits and excessive 
growth of the money supply. 

The IMF has so far winked and 
rewritten Brazil’s goals to enable 
bank and IMF funds to keep flow- 
ing into tbe country. If the IMF 
declared Brazil out of compliance, 
the nation would find it hard to 
keep tbe confidence of its bank 
lenders and its citizens, a top U.S. 
official said. 

But a Sao Paulo economist, Ser- 
gio ftmental Meades, said Tan- 
credo Neves, Brazil's newly elected 
civilian president, had the p oliti cal 
support to move the country back 


on the course it agreed to foDow 
with the IMF. 

“To fight the tremendous infla- 
tion will require more sacrifice," 
Mr. Meades said. “Tancredo has 
the support to ask for sacrifice." 


ARGENTINE 

REPUBLIC 

EXTERNAL U.S. $ BONDS 

AND 

BONUS NOMINATIVOS 

THE WESTON 
GROUP 

Enquiries Co: 

CH-1003 LAUSANNE 
2 Rite de la Paix. 
Telex: 25869. 

TeLs 021/20 17 41. 


K 

w- 


Key Money Rales 

United Stales 


Close Pit* 


Discount Rota 
Federal Funds 
Prim* Rate 
Broker Loan Rate 
Comm. Pacer. 3 MB Sow 
j- month Treasury Bills 
6-mortn Treasury Kite 

CDIi 39-59 dors 

CD's 60-89 oavs 

^ West Germany 

"* Lombard Rate 

avamtaw Bal® 

One Month Intertwnk 
jjttjnth intaraank. 
omanfti intorttMk 

France 

intervention Rat* 
con Money 
On* -month Interbank 
3-monfh interbank 
frmwitti Interbank 


84* 

Wi* 

9-1016 

&5S 

BJ» 

&» 

8*5 

B.16 


6*0 

6.10 

5J0 

6.15 

IX 


8 9 /It 
lOWi 

9-mv. 

ME 

8.14 

B 33 
ISt 
ISt 


&*G 

6.1L 

5JC 

6.15 

62£ 


Bank Base Rale 
Call Money 
Vl-dav Treasury Bill 
jmonlh Interbank 

Japan 

pteceunl Rate 
Call M oney 
UMay interbank 


Close Pm. 

14 14 

14 MV6 
124* 12W 

W 7/16 1M6 


5 » 

616 6M 

6 5/16 6 S/It 


Gold Prices 


3 


km is** 

into isu 

nut io vu 
vm to 7 nt 
10*6 lOW 


Sources: Rmtlerx Commerzbank, CrttUt iv 
amah, uona Bank, aunt of Tokrn 


AM PM Cite 
Hera Km 301X5 3DI*o - 3*5 

LiMtnDoufB 301.10 — — 370 

Paris 1125 kilo] 301*4 3HU7 - 3.16 

Zurich 301*5 301.10 — 2*5 

uyxun 301*5 301*5 — 2*5 

New York — 302.10 1.10 

official iwra* ter umdgrv Ports ana Uiunv 
Douro- spate ne end doting prices lor Hm KMW 
ami Zurieis New Tor* Cemex current cHilrael. 
Alt erlees te US* per ounce. 

SMirce: Rtvlerx 


RiNFRET ASSOCIATES, INC. and GENEWLOR. BENBASSAT ET CtE 
New 'fork Citys U.S. A. Geneva. Switzerland 


Are Pleased To Announce The Formation Of 

Rinfret et Benbassat 

Georges A. Fiecfttet Ph.D., Managing Director 

An Additional European Base For Our International Economic. 
Financial and Political Intelligence Service 

Afarket-Sensitive intelligence For Management Action 


MNFRFT ASSOCIATES. INC. 

681 Lexington Avenue 

Nm* York. New lbrfc 10023, USA 

Tatephorm: 12121 688-3620 


RINFRET ET BENBASSAT 
21, me tin Ch&mwotitefi 
1201 Genew. SariOBriarul 
■fclBphane- < 022 } 31-33-26 


COMPAGNEE FTNANCESBE DE 
CREDIT EVDUSTRDEL ET COMMERCIAL 

GROUPS ac 

On Jumuv 29 and 30, 1985, the Boards of Directors of CROUPE DCS 
ASSURANCES NATIONALES “CAN", GOMPACNIE FINANCffiRE DE 
CREDIT INDUSTRIAL ET COMMERCIAL, and GOMPACNIE FTNAN- 
(HERE DE SUEZ approved in principle an increase of lie share capital <4 
GOMPACNIE FTNANOERE DE CREDIT INDUSTRIE!- ET COMMER- 
CIAL 

TTiifl new capital will be cotUrUxned by GAN through tbe snbscriptioo of 
tm> cmnacmive issues of pnfered shares representing FRF 350 miOioa 

The firs tease will be made before June IQ, 1965. and the second before 
December 31, 1985. After tbe subscription of these two issue* GAN wiD 
bold 21.87% ol the capital of GOMPACNIE FINANG£RE DE CREDIT 
INDUSTRJEL ET COMMERCIAL. 

In addition, it was omed tint CAN will acquire from COMPACNTF. 
HNANQERE DE SUEZ tbe necessary shares to hold 34% of tbe ranha l of 
COMPAGNIE F1NANQERE DE CREDIT INDUSTRIE!, ET COMMER. 
GAL in the comae of (be next four yeara. 

On contniefam of tbe above tnuaactums. tbe majority of tbe capital of 
COMPAGNIE FINANOfiRE DE CREDIT INDUCTRJEL ET COMMER- 
CIAL will still be held by the Republic of France. 

In 1964 the consolidated results of OC Group, which has realised an 
mgrateat reorganization since 1982. will be improved as compared with 


Notice To Commodity Investors: 

PROFESSIONAL 

MONEY 

MANAGEMENT 

Rudolf Wolff has developed considerable 
expertise in money management, and is 
able to offer proven programs for qualified 
Investors who do not have the time or 
expertise to manage their own Investments. . 

Minimum initial Investment Stoogodo. 

Rudoll WotH, astebWiod In 1065, (8 a member ot the Mwareta atoup of 
compantos, a mining and resource group with 8 not worth of SZ7 MHoa 



Rudott WotH Futures Inc. m m m m m m m 
2RS Madison Avenue, Mew fork. MY 10CH7 UJSA 1 
Phone C212) 5730440 Tetex ITT 423840 ■ 

Attn; William Rafter . 


Please rand 
a detailed 
Rudolf Wolff 
Information KiL 


Name ,. 
Address 


Ptwna Teton . 


2/5/85 



Page 8 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, FEBRUARY 5, 1985 


NYSE Most Actives 


AT8.T 

SouHiCa 

MerLyn 

Ctrian 

ABPw 

IBM 

Tonnes 

IClnds 

Unocal 

Exm 

cnovm 

FordM 

FedNM 

PMbrS 

Goan 


12232 

11519 


Hlotl 

LOW 

Lost 

drag 

a 

10(6 

tt 

20% 

1BI6 

+ % 

34% 

33* 

34% 

+1* 

43% 

41% 

43% 

+]% 

a% 

n% 

«1% 

+ w 

138(6 

TO 

137% 

+2 

Wft 

33% 

39* 

+ % 

34* 

32ft 

a 

+ * 

43 

40 

42% 

+1% 

gft 

47(6 

47% 

+ U 

33% 

3JU 

33% 

+ * 

4BU 

47 

a 

+ * 

18(6 

17* 

1816 

+ * 

40% 

39 

40* 

+1 

35% 

34* 

15* 

+ to 


I Dow Jones Averages 1 

awn him low unt ax* 

Indus 127101 1294J4 124M9 129001 + TUI 
Tran mr/a msji hum hm + lb 

UtU 14854 15829 147.72 149-57 + 0.97 
Comp J1S.11 SM22 51125 52102+ 557 


NYSE Index I 


Composite 
Industrials 
Transa- 
Utl titles 
Flime* 


PmM _ TtfST 

hw low aow 1PM - 

I03JK 103.1? 10353 1U£ 
11954 119.10 119.10 nm 

10003 10080 10061 IfHf 

wtf CTCT S2J9 5101 
10172 10104 10104 10772 


r 


NYSE Diaries 



Close 

Prav. 

Advanced 

10» 

663 

Declined 

St 

935 

Uitchanoed 

438 


2013 

2036 

Hew Htefa 

167 

105 

New Lews 

3 

2 


Odd-Lot Trading in N.yTI 


Feh.1 
Jan.31 
Jan. 30 
Jan. 29 
Jan. 30 


Included In Bw sales Houres 


But Sans 'am 
197.123 511704 .1511 . 
215,250 S&4S3 10490 

270511 AM<449 1011 

240057 551477 1710 

2S4331 130591 1&050 


Monday^ 

MSE 


■ V 


VoL at 3 pju 


Prer. 3 PAL voL 

89J1MB0 

PrvvcMxfldaMctaB 

T38.UUU 


TWei tadado tte nottanrtde prkxs 
■p to the doatoo m mub street 


AMEX Diaries 


Close 


Advanced 
Declined 
Unchained 
Total Issues 
New Hiatts 
Now Laws 


IS »9 

227 281 

234 228 

m 79B 

SO 39 

3 2 



J 1 NASDAQ lndex_J 


Cteu Mon Ada A» 

H Composite 

■ Indushrials 
3 Finance 

H Inaufonce 
M utnnies 
m Banks 

■ Transp. 

27883 279.18 2 7480 2 £01 

^ sss as 
S = 

I£S z 3£S S3 


Pre v io u s Today 
HMi Law One 3 P.M. 
Industrials 20155 19955 19955 30124 

Trans* 140.45 19755 159 J7 16049 

Utilities 77.13 7057 7150 77.10 

Finance 2U7 2IWS ZU6 2008 

Composite 17913 17584 171163 17905 


lPow Jones Bond A verages] 


Bands 

Uttmies 

Industrials 




W h " 


sy 


3K-' 

' ' . 


12 Mount 

HFgti Low Mack 


Df*. Y14 P6 


so. 

wh mao low 


Cion 
BuoLOive 


Profit-Taking Pressures NYSE 


RMonflt 
High Law Steel 


Div. YkL PE 


Stt. 

IBOsHMi Low 


Doe 
Ouot-Cnne 


88 


1j00 

50 


2J 1* 
12 
04 

11 08 

9 


23Va Ills AAR 

26 9* AGS 

19 127k AMCA 

177k 1JV» AMF 
XU 24V, AMR 

law amr pt in ?i.i 
3711 27* AMR of 112e 55 

23» 23ft ANRpf 247 104 

23 19 AN Rut 2.12 112 

69% 44ft ASA 100 6.B 

27 14 AVX JZ 15 14 

4 6% 34ft AMLob 120 25 M 1654 

257k 14ft AccoWd % 84 14 20 172 

34Vj 12ft AcmoC 40 2.1 007 

lift 8ft AemeE 02b U 12 6 

17ft IS Ada Ex 111B124 


. . lift AdmMI 
17ft 87k AdvSn 
41ft 2Sft AMD 
lift 6ft Advert 
13ft 8ft An-flex 
40 27ft AotnLf 
SBft 52ft AefLpf 
32ft tsft Alimas 
4ft 2ft Alteon 
48ft 36ft Air Pro 
24 13 AlrtoFrt 

2 ft AlMoas 
JHk 24ft AiaP PtA 192 124 
7ft 6 AKtPdpf 07 114 
102 BSto AlaPpf 1150 114 
78 63ft AJaP pf 944 122 
67 56 AlaPpf 

Uft I Oft Alone* 

18ft 9ft AlskAIr 
24 15« Alberto 

29ft 22ft AlbtsnB 
35ft 23ft AlCOn 
34ft 27Vk AlcoStd 
27ft 17 AtexAlx 
28ft 18ft Alexdr 
89ft 42ft AltoCp 


115 


■32 14 9 
41t M 2J 

■'* 1-2 13 KJ 
254 45 33 1868 
547el04 46 

100 44 17 1444 
29 33 

140 24 11 1354 
40 17 12 47 

27 


848 125 
X 7.1 8 
.14 4 8 

54 25 19 
58 24 12 
1.20 48 12 3188 
140 15 12 17B 
140 18 S « 

26 76 

1061 25 9 181 


Z38 20ft 20 20ft— ft 

76 16 15ft 16 
17 IS 14ft 14ft + ft 
115 14 15ft 15ft 
4442 38% 36* 38% +1* 
14 19ft 19ft I9ft 
295 38ft 36ft 38U +lft 

1 25ft 25ft 25ft— ft 

4 2m 20 2D* + Vi 

495 50ft 49ft 50 — ft 
399X 24ft 23ft 237k— ft 
47ft 46ft 47ft + ft 
25ft 24ft 2SW + ft 
19ft 18ft 17ft + ft 
97fe 9ft 91b 
16<b MM 16ft + ft 
177b 17ft 17ft 
13 12ft Oft + ft 
3S* 34ft 35ft + ft 
10ft 9Tb 18ft + ft 
13ft 12ft 13 
40ft 37ft 40ft + ft 
56 55ft Sift 
30 29 30 — ft 

3 2ft m 
49ft 4B 49ft + ft 
23ft 21ft 22ft + ft 
176 

2 

42 

401 99H 99ft 99ft 
IDi 77ft 77M 77ft 
340Z 68 65ft 65ft— 1ft 
3 17ft 12ft 12ft 

518 18 17ft 18 + ft 

23 24 23ft 23ft— ft 

M2x 2Bft 271« 28ft -t- ft 

30ft 29ft 30ft + ft 

34ft 34 34ft + ft 

26ft 26ft 26ft— ft 
23ft 2312 23ft— ft 


United Pros international $973.7 billion. Dccades-okl farm support pro- 

irS^ p ^r^ pra “ s — 

The Dow Jones industrial average was up The fiscal 1986 deficit is SI 80 billion in the 
8.17 to 1.285.89 about an hour before the das- budget pngections, though the economy is 
mg. Advances led declines by a 5-3 ratio. The charted for steady improvement with less Qnem- 
five-bour volume was 91.9 million shares, com- ployment 

pared with 89.9 million in the corresponding The stock market's uneven performance in 
period Friday. the last half of 1984 was blamed on worries 

Marvin Katz of Sanford C Berastan Co. said about budget deficits and the upward pressure 
the market appeared ready to move higher on OT interest rates created by government borrow- 

■ mg. 

3* 3* J* 4- * PM* t£Z Tbe Tr^^Depailmnit hasaS19-biDkm 

k-ajaia --*—***— *" i — J 

1 __ 1 be tightening credit. 

any good news or lack of bad news. He said the __ The Dow set a record high of 1,292.62 last 


31ft 20ft Eofrine 72 uni 88 

37ft 20 Ethyl JB 24 ID 446 

8ft 3 EvorP 483 

10ft 6ft Evan pf T50 19a 73 

14ft 10ft Evan pf 2.10 183 13 

417b 30 ExCeto 150 44 10 376 

Exooter 1410115 5 

Exxon 


33ft 23% 23ft + ft 
357b 35ft 33ft 
5ft 4ft 4ft— ft 
7ft 7% 7ft 
lift 11 lift + ft 
40ft 39ft 40 + ft 
15ft 15ft 15ft— ft 


350 7.1 7115T5X 477b 47V, 4711i + ft 


220 

255 


JB 


35 9 

20 

9 

22 15 


47 

660 

1 

3478 

B 

25 


advance was stimulated by several buying pro- Tuesday. 


grams from institutional investors. 


Any market that's moved as rapidly and 


I07b 6V, FH Ind 
67ft 41ft FMC 
81ft Sift FMC pf 
22ft 17ft FPL* 

13ft 9ft FotClr 

14ft 9ft Facel _ 

18ft 15 Folrehd 00 40 10 484 
38ft 33ft Falrcpf 340 98 
16ft 9ft PalrM .18 14 10 
31ft 16ft FanBlr 22 0 24 

19ft 14ft Fanrtln 50a 35 13 

33ft 27ft FrVfrtF 5 

28ft 14ft Farad 48 45 8 

13 Eft FayDru 20 15 19 

7 4ft Fedors II 

37ft 29ft FmJICO 154 44 7 
45ft 27ft FadExp 23 S44J 

48ft 19ft FdHmpf 10 

39 29ft FdMoa 142 4.1 10 62 

23ft 10ft FedNM .16 S 8855 

27 167b FetJP.1i 38 U 7 176 

21ft 16 FodRII 154 64 16 114 

18ft 13ft FdSanl 40 44 20 108 

56ft 42ft FadOSI 250 45 9 

32V. 22ft Ferns US 48 9 

37 25ft FWcsI 200 64 10 92 

22ft 4 FtnCpA -20 15 2495 

47ft 14ft FlnCppf 604elBJ 52 


8* 7ft Oft + ft 
66ft 65ft 657s— ft 
82 B3 B2 + ft 
22 21ft 22 
12ft 12* 12* — ft 
13ft IN 13ft + ft 
18ft 18ft lift + ft 
37ft 36ft 37ft+ ft 
157b 15ft 15ft— ft 
30ft 29ft 30ft + ft 
17ft 17 17ft 
29 29 29 — ft 

19ft 109k 19Vk + 7b 
1276 12ft 12ft + ft 
6ft 6ft aft 
17ft 36ft 37 — ft 
36ft 35 36ft + ft 
40 40 40 

37ft 37ft 37ft— ft 
18ft 17ft 18ft + 7h 
21ft 20ft 21ft + ft 
22ft 21ft 22ft + ft 
17ft 17ft 17ft + ft 
1260 54ft 53ft 54ft + ft 
224 27ft 26ft 27 4- ft 

30ft 30ft 30ft 
10ft 10ft 10ft 
37 3Cft 37 +1 


26 ft 23 - a'mcppi 246 in s 25 * 25 ft g£- M *TJ &*** would be h«aity. Mr. Kaa predicted taking.” said an investment adviser, David Po- 

28 % left a mint i5o 5.1 2 B S3 27ft 27M 27 % + ft that the stock market would resume its advance- ten- He said the rise resulted from a realization 

5* 247* ahbpw* Ud’m 8 784 29ft Isa 2 ^ + ft and head toward a Dow average of 1,350 over a that “the economy is in good shape, interest 

“ period of several weeks. rates seem to be slaying down and inflation is 

Trade Latimer of Evans & Co. said selling down.” 
dried up when the Dow dipped to the 1.270 level AT&T was near the top of the active list and 
in early trading. She said toe stock market was up a fraction at midday. Actively traded IC 

+ M I in an upward cycle with enough momentum to Industries was higher following favorable men- 

+ % ignore questions about the direction of interest ti° n in a newspaper article. Citicorp was higher 

rates. at midday on heavy volume. 

President Ronald Reagan’s budget proposals General Motors, which reported fourth-quar- 
did not appear to be having much of an effect ter earnings of $2.71 a share vs. $4.1 1 in the 
except to help defense issues, she said. 1983 fourth quarter, was up a fraction at mid- 

The proposed budget for fiscal 1986 totals day. Ford ana Chrysler also moved higher. 


3 

140 

1 

12 


23ft 15ft AllenG 40b 32 11 110 
3916 2816 AJMCpS 148 47 9 2W 
627b 53ft AMCppf 674 11.1 
1WM 99 AMCppflZiH 114 
107M 100ft AUC Df 12596124 
21ft 10ft AUdPd 
56ft 38 AlUStr 240 39 8 410 
16ft 5ft AlltaCh 
39ft 24 AltoCpf 
26ft 20 ALLTL 144 69 9 

34 27 ALLTpf 246 64 

25ft 20ft AtphPr 506 14 19 
43 vm Alcoa 140 14 12 2950 

27ft 15ft Amnx 40 1.1 7B7 

4376 32ft AnWVPf 100 85 9 

44ft 22ft AmHas 1.10 44 10 3375 

144 Mft AHaS Pi 340 34 

276 116 AmApr 
19ft 14ft ABafcr 
6Sft 527k A Brand 
27ft 247b ABrdpJ 
77V, 50 U> ABdcrt 
257* 1 9ft ABIdM 
23ft 17ft ABwPr 

55ft 40ft Am Con 

2416 2116 ACanpf 240 UJ 

48 36 ACancrf 3M 67 32 

197b 16ft ACapBd 220 115 41 

3» 2Sft ACapCv 646621.9 66 

13ft 6ft ACvntC 4 126 

55V. 42ft ACvan 190 34 12 1462 

29ft 18ft AOT 92 V 24 1 25 


II 124 
340 62 9 514 
US 102 267 

140 24 10 2785 
46 34 11 45 

46 24 13 55 

290 54 II 653 
16 


Sto- 


re 


IS 13 1354 
21 IP 5340 


31ft 15ft AElPw 
42ft 25 AfflExp 
SBft 1386 AFamll 
29 198* AOnCp 

97k 57hAG«llwt 

57 517* AGfllPfA 6316114 30 

787* 57ft AOfll pfB 59Se 74 78 

to 43 ft AGfl lpl 3J5 59 2 

58 39ft AGnpfD 244 44 1647 

31ft 25ft a Harll 198 35 13 12 

13ft 7ft AHobt 41 

56ft 46ft AHoma 290 5L2 12 1645 

361*. 26ft AHesp 1.12 34 10 2630 

79ft 62ft AmrVtll 6JD0 74 6 22S 

1 5 50ft AlnGrp 54 4 17 1«48 

127 112ft AIGppf 585 
28ft 18ft AMI 92 

67k 3ft AfflMaf 
46ft 27ft ANtfeS 292 59 
am 221b APmid 94t U 
137b 9 ASLFIa 
I8ft 15 ASLFI pf 2.19 11.9 

16 10 AShto re 59 15 

35ft 277* AntSM 140 
23ft 15ft Asram 
SSft 26ft AaiStar 44 
a 46ft AStrpfA 498 
SH* 51 AStrpfB 680 1X0 41 

22ft lf» AT&T 190 59 1719813 
16ft 2>ft AT&T Of 344 10B 
37ft 31ft AT&T pf 394 1&1 
4216 27ft AWatr 280 44 


18ft 18ft 18ft— ft 
... 38ft SBft 38ft + ft 
24 607* 60ft 60ft + ft 
4 105ft 105ft 10576+ ft 
414 104 UOTb 104 + ft 

68 2QV1 19ft 20 

51*. 51 ft 51ft + ft 
8V* 77b tVk 
30ft 30ft 30ft 
26ft 264* 26ft- 
34ft 24ft 34ft- 
2246 22ft 224* + ft 
38 274* 18 + ft 

104* 18 187k— 4k 

3416 34ft 34ft 
264* 25ft 26ft + ft 
4 115 113 115 -M 
309 2ft 3 2 — ft 

19ft 1916 194*— ft 
64ft A3ft 63ft— ft 
27 27 27 

ASU, 43ft 651*4-1(1* 
2416 » 21 — ft 

22ft 22ft 2216 
51ft 51 51ft + ft 
23ft 23ft 337b + 4b 
45 4446 

194b 1916 

30 

10 *4* W + U. 

547k 53ft 544* + ft 

M*l 34ft 24ft— 16 

2960104 814365 2146 21ft 2146+ 16 
198 10 15 7135 42ft 41 <Qft +lft 
26 25ft 26+16 
29i* ai* at* + ft 
9ft 9ft 9ft— ft 
54ft 54ft 54M + I* 
78ft 77 78ft + ft 
*3 63 63 +1 

584* 56ft 58ft + ft 
314* 3116 317k + 4* 
10 946 » +ft 

557* 54M SSft + ft 
321* 31ft 32 — ft 
77ft 7816 79 + ft 

. 7616' 72ft 75ft +14* 
45 10x130 126 ISO +5ft 

3.1 13 5083 231* 22ft 237b + 16 
MS 4ft 4 4 —ft 

451 4276 41ft 4216— 1ft 
778 377* 3676 3716 + 16 
36 12ft 1316 1276— ft 
67 184* 18ft IM* 

146x 14 13ft 13ft— 76 
504 3346 3Z4» 33 — T 
22ft 2346 22ft— ft 
50 49 4976+ 16 

61 Cifft 61 +4b 
527* 5216 527b + ft 


9to 

2* FnSBor 




27 

3ft 

3% 

3ft 

19ft 

ISto FI resin 

00 

42 

10 

1B31 

19* 

18% 

19*+ to 

26% 

19 FtAtlln 

08 

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B 

29 

2S% 


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8 

SMI 


32% 33*+ % 



IJO 

AS 

10 

1016 

t-ty 


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12 

7061 


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102 

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1473 

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23%+ * 




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40 FtBTxpf 5076133 


IS 

au 

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13 

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17% 

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TIB 

17% 

IWj 

17* 


30ft Flntste 

za 

50 

8 

1246 

C53 

Put 

46% + ft 


30V. n FlnM Pf 237 8.1 U 
12ft 7(6 Ft/VUss 94 24 9 337 

48ft 311* FN5IB 2JM AI 7 62 

776 4ft PstFo 8 1100 

284* 20 ft FsfPa pf 2A2 99 610 

30V. 20 FtUnm 194 6.1 15 261 

20ft 144* FlVaSk 94 49 8 191 

28ft 16 FlWtoc 190 49 8 27 


49 11 

15 12 

U TO 2067 
79 55 


37ft aft 36ft— ft 


12 10 AWOtpf 195 It.! 

277* 20ft Am Hot! 


2A8 94 11 
595*89 


. + VS 


65ft 5376 ATrPT 
9 47b ATrSc 

757* 5816 ATTUn 595* 7.1 
33ft Ml* Amman 140 SL3 
31ft 17 AmaDs 
B57* 60 Aimaf 
29ft 21ft Ametek 
9 IB1* AmfOC 
174* 10ft AmfUC 
38ft 26ft AMP* 

24 14ft Amoco 
aft TObAinrm* 
aft 19 AmSIfi 
37ft 2S4b Amstad 
67* 17b Anoonp 
a 197k AnotaQS 
311* 1916 Anchor 
3676 24ft AnC lav 
117b 9ft AndrGr 
aft 1616 Angel k: 

7876 5346 Anlmn 
5776 44 Anhaupf 340 
224* 1346 Anlxlr 98 
154* 87b Anthem su 
15ft 107b Antfmr 
144b 916 Apodie 

3ft ft AprtiPwl 


17 
37 
I 

8 20 
9 16 1241 
63 4 

29 15 394 
1552 
6 382 
19 V 2776 
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5.1 8 394 

43 12 51 

67V 
19 1136 
69 a 748 
27 17 a 
19 25 168 
29 12 
29 10 
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98 19 a 
re 9 15 

-44b 39 7 
91 29 11 1157 
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» 

■9 . ... 

60 414* 41 ... 

Sfflb 1116 lift IH 
212 367* aft 28ft + ft 
66ft 667* 66ft + 7* 
84* lift Bft 
75 75 73 

& a |s«* 

sisats 

15ft 1476 147h + 76 
37 35 37 +1% 

167* 16ft 16ft— ft 


190 

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192 

90 

96 

290 


27ft rn OT*±ft 


533 

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217* 

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20ft 151* ApcflPurOOOelU 

31ft 2776 APPW pf 

294* a AaPwpf 
36ft 177* Apt Old 
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23 15ft ArtMJlt 
22*k 14ft AHzPS 
‘ 23 ArlP pf 
217* 13ft Ark But 
1* Artel o 
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9 Armen 
18 Armcpf 
2346 154* AnraR* 

37ft 2216 ArmWln 190 
30ft 184* AroCp 
aft 1316 ArawE 
22 16 Artlll 

23ft 14 Arvtn s 
aft 177* Axarco 

29 204* Ashion 

41ft 33ft ArtllOpf 490 109 

4076 aft AshlOpf 396 104 

61ft 45ft AsdDG 290 49 9 

2546 18ft AlMone 190 79 17 

75 19ft AlCvEI 2re TOO 8 

86 67 AffCEpf 597 69 

saft 40ft AH Rich loo 69 a 

a 32ft ATI Rc pf 3.75 10.1 

IB f7 ATIRcof 290 29 

9 lift AllnCp 
aft 184* Augot 
457* 29ft AutDOt 
50ft 24 AVOUCH 
99ft SI AveOPf 
22ft 157* AVEMC 

174* 23 Awry 

15 10 Avloll n 

41 27 Avnef 

25ft 19(6 Avon 

37 18 AytUn 


4.18 135 
300 13.1 
MB 17 

72 

1.741 90 168 

■14b 0 

15 

280 

1Z2 

7 

350 

125 


80 

10 

9 

108 

58 

16 

210 

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1J0 

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455 


3 

224 


37ft a 37ft 
376 3 3ft— ft 

a 2f* a + V* 
24ft 237b M +7* 
35ft 34ft 3546 + 7* 
IN lift lift llft+ 16 
11* 20ft 304* 20H — 16 
B33x 747k 7316 74ft +lft 
336X 5476 5246 54 + V. 

92 18ft Wft 18ft + 76 
144* 14 14ft + 7b 
134* 137b 13ft 

r "» n *±jf 

177* 17ft 177*+ ft 

a 30ft a +16 

» a a — l* 

36ft 35ft aft + ft 

lift lift 114*+ ft 

15 a44x aft 207 * aft + ft 

»82 aft ai* aft + ft 

16 28ft JBft 28ft— ft 

291 2 jft aft aft + ft 

5L4 1* 5777 20ft 1916 20ft + ft 

51 ft ft 

1281 11 10ft 104* 

72 227* an an— t* 

17 234* 234* 23ft— ft 
41 Tx a 36ft 367* + ft 

45 W& 30 304* + ft 

232 171* 167* 16ft + ft 

119 287* 19ft 20ft + ft 

275 aft aft 21ft— ft 
624 23 22ft 22ft— ft 
623 29(6 2Bft 29ft + ft 
1 411* 4116 4116— 16 
» 3876 37ft 3876 + 16 
770 58ft 58 51ft— ft 

19 204h 20ft 20ft- ft 
113 25 24ft 24ft 

1 B7V. 3776 8714 +116 
5138 4Aft 45ft 45ft + (6 

itbi a a a + 11 * 

2 10916 1064* 10916 +116 

X 1416 14 14ft 

. .. 663 227* 22ft 2Z46— 76 

M 20 1066 444* 43ft 4476 + ft 

10 64 494* 49Vy 49ft 

4 9846 9846 987* 

27 13 34 224* a4* 227* + ft 

19 1* 534 37ft 36ft 37ft + ft 

7 62 13ft 124* 13ft 

19 T7 1309 36ft 35ft 3*76 + ft 
22ft 2216 22ft + ft 

ai* a a - i« 


re 19 is 

93 


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89 10 2154 

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B 


207* 10ft BMC 

33 18ft Bolmci 

23ft 15 Bkrlntl 

23ft 18ft Bolder 

27b ft VlBoktU 
1DM 7 Bldupf 

58 KVa BoUCp 

231* Uto BolIvMf 

1ST* 7ft Bally Pk 

417* 3076 BottGE _ 

44 36ft Balt pfB 490 KL3 
a , 2*46 BncOna 1.10 39 10 
lift Sft BncCtrn 
5ft 34* Bon Tex 

59 38 Bandog 1.10 

4* 29 BkBaa 290 

387* au, BfcNY 2 re 

26(6 15ft BnkVo* ire 

an 14ft BnfcAm 192 

Eft 40 BkAmpf 521*119 

19 1176 BkAmpf 298 367 

32ft 22ft BfcARlY 290 79 » X 

6476 3776 Bonk TV 2J0 43 7 1171 

23ft Wii BhTrpf 130 iaa 11 

121* 7ft Bonner 93* J 17 13 

33ft 19 Bmtf 94 19 10 582 

»Ki M BarnGp 90 3J 7 

48ft 32V, SariMt 196 2.9 9 

50 35 BvnfPf 297*49 

33ft 19ft Borvwr 90 29 15 

lift Bft QASIX " 

28ft 17ft Bousrtl 

217k lift BaxtTr 


13 12ft 124* + (6 
33ft 3316 3346 + ft 
16ft 16ft 164k— ft 
224* aft 224* + 7* 
1ft 1ft lft 

6ft Oft 6ft + ft 

IB U II X 47ft 48ft 49ft + ft 
re 19180 2307 I44b 14ft 144* + ft 
12 25 10ft 10ft 1846 + V. 

120 8.1 7 404 39ft 3971 297* 

68Z 43ft 43ft 43ft +116 
118 28ft 287* 20ft + 7* 
10 V(6 976 97* + 76 

a* 5 41* 4ft 

sun 57ft 58ft +1 
4*76 454* 46(6 +1 
3876 37ft X +6* 
24*6 a 26(6 + 76 
194* 19 19ft + ft 
45 44ft 45 
16V* 1546 16 + ft 

32Vb aft 32ft 
64ft 634* 644* +lft 
ZJft 23ft 23ft— 76 
II li 11 — ft 
34W. 3316 2416 + ft 
2476 » 34—16 

47ft 4546 47 + 7* 

481m 48 4 —4* 

2S* 24ft 257*- 16 

12ft lift 12 + ft 

Z7?k 2776 2746— ft 
93 22 70 6023 15 14ft 144* 


39 16 194 
19 13 19* 
59 15 1896 
14 IS 76 
343 
2 


IS 12 It 

52 6 151 

59 6 367 
39 9 93 

7J 10 4*51 


215 

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258 

752 

899 


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2> 29 16 


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280 

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45ft Xft BectnD 120 27 M 561 4574 44ft 45ft— ft 

12 4ft B*km 327 71* 7 776 + 16 

10ft V7b Better Pt 120 1*2 3 10ft lOVi 10VS 

Iff* 12ft BeMlH 40 26 12 a 16 15ft 15ft— ft 

30ft 1916 BrtHvri 36 22 14 1122 2876 2816 2Bft— ft 

X 19ft BelHwpf 47 24 5 28ft 28ft 28ft— 1ft 

83 66 BellAII 640 79 6 3792 82ft aft 81ft— ft 

2846 22ft BCE O 228 2N 2746 27ft 2746— ft 

2876 19ft Bemad 22 14 12 77 Oft 23ft 23ft— lb 

35ft 2716 Brtl&SI 240 74 8 3803 344* SB* 34 

5016 354* BetoAM 90 79 20 272x <9 48to 49 + ft 
2«b 2Mfc Bembs 98 12 11 46 27ft 2Ah 27ft 

87 73 Bfldxpf 494 44 9 88 88 88 —ft 

37ft 33 BanfOi 190 S4 9 781 3716 3Mb a 

38ft 3016 Bcnef Pf 430 12.1 . 1 3Sft 3Sft 35Vb + 1* 

876 316 BenofB .15* 34 II 1« 4ft 4ft 4ft— ft 

16ft 7l* BeraEn 10 80 164* 16V. 1676 + 1A 

6ft 3ft B*rtwv 13 77 5ft 5 5 - ft 

1776 «ft BertPd 24 1.9 « » J3Jk 12ft 12ft 

28ft Mlh BettvSH 40 11 149tx 19ft 18ft 10ft + ft 

581& 37V6 BefhSIpfiDO 112 ~ _ 

SBft 18ft BefttSt Pf 150 112 
361* 19ft Beverly 22 S 21 

U 13 saa 
7.1 8 74 


90 


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SMb 17ft BkJCkD 
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« 14ft BtelrJn _ 

50ft a Dick HR 240 
« 357b BOfiW J90 

4«Mi 33ft BolseC 1.90 
56ft 46 BPbeCpfSSO 
26ft !5ft BdltBer .10 
65ft 49ft Bortten 221 

S"S*S5 Vi. i 

mu 9 BOSEpr 1.12 119 

i» Wft fsfw T 4S 
25V4 Mft Boitor n -73 
31M ^ BTjoM 1^ 

5446 41 BrlrtM 190 
Sft 3ft BrtlLnd 


ire 

96 


999x 45ft 45 45ft + ft 

167x 2246 X 22ft + 7* 

508 357* 35ft 35ft— ft 

810 Wft 22* 23 

251* at* 2Sft + 7* 

277* 0 37 — ft 

29 11 35S 20(4 191* 19fh 

42 13 329 SO 49ft 49ft + U 

2 2 8 3480 631* 61ft 63to + ft 
45 19 1510 42ft 42ft 474* + ft 
92 W 35ft 5516 Sift 
4 a 350 267k 25ft aft + ft 
42 9 2«> 64ft 63ft 647, +1 
39 10 I0M 33ft 31ft SSta — 7* 
114 6ft Oft 6ft + 4* 
7 197 35ft 34ft X + ft 

Sit 75 75 7S +1 

ZJx 10ft Uto 10ft 

7x 12ft 1276 12ft 

9 1198 »* 23ft 23ft + 76 

9 217 30ft 30 304* + ft 

16 6550 B 5316 54ft + 46 

9 4ft 41* 4ft + ft 


11 
12 
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cm. am 


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102 

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X BfcyUG 

112 

85 

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9 BkUGpf 305 125 


2 

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739 *— IU 

22% BrwnGP 

106 

48 

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424* aft BrwnF 128 
39ft 234* Brnawk 120 
394* 25ft BrrtlWs 48 
17(6 12 BucvEr 44 
2?7k 13ft Bundy 


16 15 1049 
26 9 940 
U 17 

u> a 

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17ft 15ft BunkrH 2.14 124 

aft 14V, BurlnQ 11 

334* 23 Burl Ind 144 5.9 21 

577* a BriNih ire 25 a 

am 44ft BrlNpf 560e1L4 

19 I2*i Qumdy 94 45 16 

45ft 447* Burrah 2A0 4L1 12 

19ft 12ft Buftrln S2 73 

12 3ft Buttes 
15 10ft Bides Pf 110 1HJ 


41 «% 41 +1 

» X 384* + 

_ 371* 37 3746+ - 

133x 144* 14ft 144* + lb 
174 IBM 18 18ft— 

18 17ft 174* 174*— 
207 15ft 15 154*+ ft 

482 277* 274* 2746 + ft 
1184 564* 5544 561* + 7* 
650x 497* 4876 «Vh + V* 
10 17 l«ft 17 + ft 
~ 64 6246 64 +1 

1916 18ft 19M + ft 
5ft 44* SM+ ft 
lift 11(6 11(6 + ft 


263 

64 

] 


33ft 24ft CBI In 
8746 61ft CBS 
946 4 'A CCX 
48 TO CIGNA 
a 23ft CIGPt 
8(6 446 CLC 
40to a CNA Fn 
107* CTkCNAI 
aw 34V. cpc int 

19ft 14ft CP NM 
271b 18ft CSX 
22 CTS 
7ft CSInc 
22ft Cabo) 
137k 8(6 Caesar 
20ft 114* Cal Fed 


irea 5JJ 11 241 
390 49 9 1605 
14 57 

240 5A » 44a 

2JS 94 a 


15 

ireaiu 

220 5J 14 815 
ire 7J 8 103 
194 39 9 3956 

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417 

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479 
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76 35 ID » 
4re 4.9 8 453 
JOl* .1 19 4 

UB 57 9 336 
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6 1468 

6 196 

350 

8 236 

7 554 
6 494 


46ft 3216 ColFdpf 475 KL2 
24ft 13ft Calthn 95r 14 89 
WJ lift Canwnl .12 S 
304* 15% CRLko re 
97b 3ft CmpRg ,T6> 

73ft 5416 CamSp 250 
«W 28ft CdPoco ire 
3046 1446 CcnPEO 90 
59ft 1446 Card R 68c 
179ft 123ft COpatl. 50 .1 17 

,48ft Xft CapHM 154 35 11 
(064* 100ft COPH pf 10690105 
•ms, 10V. Carina* re 
39 24V* Carlisle 192 26 12 

25ft Itib CareFt re 14 13 

Uft 19ft CarPw 260 105 7 

2346 197b CarPpf 247 114 

Oft 364b CarTac 210 47 II 

lift 7ft Corral 97 4 M 

40ft 304h CarsPir 150 39 18 

32 ft 18(6 CartHw 152 44 51 

787k 19ft CartWI 52 14 11 

15ft 9(6 CokNG 150 83 7 
181* 9ft CnstlCIc 

33 154* CsHCpf 

5214 28ft CatrpT 
23ft 16 Coco 
90ft 6216 CeteKM 
15 7ft Censy n 
«ft 30ft Centef 
26ft 17 Centex n 
237k 167k Cen50W 292 9.1 
25ft 16Vb CmHud 294 114 
2Hb 20ft CHudpf 292*119 
23ft Wft CMllIU 252 97 
177k 14 Call PS 140 95 
234* 17ft CnLaEI 196 99 
34ft 29ft CLaEI Pt 4.18 124 
14ft 7ft CeMPw 140 135 
1976 14 CnSava 
1846 tffft CVtPS 
15 74* Control 

Wft 74* CntrvTl 
24ft Wft Canvlll 
3S 15ft enreed 
K 17 CaosAIr 
26M 16ft Chmpln 
277* 19 Chml pt 150 45 
54 43V. Chml pt 440 87 

!tm 8 ChomSe 40 45 12 

12to 1 vlChrtC 

4ft <A vlditmt 

lift lft vIChrf pt _ 

53ft 35ft Chase 390 75 6 ION 

44ft 36ft Chase of 555 11.9 9 

38 <3 Chare pf 657ell9 388 

57ft si Olase pt 950*169 1014 

a 13ft Chelsea 46 35 9 47 

3446 M* Chemad ire 49 13 X 
X 23ft OlNYs 256 69 6 1014 
38ft Z34* ChNYPf 197 45 23 

567* 46 aiNYpf 5990115 HR 

37ft 31(6 Chew* 154 34 10 IX 

39ft 32ft CheaPn 290 54 12 638 

40V, 29V. Chevrn 240 

37 1ST* CNWSt 
200 99Vi CtUMIw 
747* 47ft CMMIpf 
25(6 16 ChIPnT 
15 77k ChkFull 

*ft 24ft ChTlsCr ret 15 57 

lift S Chrlrtn 41 

137* 9ft Chroma 1196 

36ft 20ft Chrvrtr 190 39 5 7765 

SO 34ft Chubb S 250 17 13 1461 

347k 21(6 Church 90 23 19 3» 

45ft 35ft On Bell ■ 

I5ft 87k dnGE 
T) 24 GnGpl 
33ft 24ft ClnG pf 


64 

11 

ClnGnf 

900 141 



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X 

FI 

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02 

20 

40 

a 

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15 

29* 

16% CJrOtv 

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13 


60 

44V. 271* Clticrp 296 45 715398 

86 Mft Cttta.pt 8530109 337 

W1* 75ft Cltcp pfA 9.9Sel09 I 

44ft 32 atvlnv 290 59 10 1790 

“ gto Chrlnpf 290 35 27 

21ft Ctvinpt 297 114 1091 

JSS 9 oWr 31 VU M 

»ft 23ft ClorkE 1.10 34 1* 371 

Wft 6ft CIOVHm 17 450 

2ft 17 Ovat 190 49 9 5*3 

2016 13ft CtevEI 242 134 5 WB1 

47 OvEIPf 746 134 
JE. Cleyp* 40 44 

17ft IH* ClvpfcPt 233 1X1 35 

20 lift avpkpt 1J4 104 49 

31to 22ft Ooro* 150 17 10 

17to 141* ChAM n 

31 22ft CluettP 

2 rz* Cooctm 

X 23ft Coastal 

9? 24ft CstlPf 

66 49 Cocoa 

19to 7ft Col ecu 
Wft 25ft Catanw 


28 27ft X + „ 
75ft 731b 7SM +116 
716 7ft 716 
46ft 45ft 46ft + 16 
28to 28Vh aft + 1* 
6M SV. 57k— 16 
371* 37ft 37ft+ ft 

rare urn Wft 

38ft— Vk 

. lift 

Ml* 37to + Vk 
3716 36ft 3716 + ft 

12 1116 111k + ft 

3116 30ft a +7* 
111k 1116 lift + 1* 
17ft 17ft IT* + 14 
46ft 45ft 46ft + ft 
16 15ft 16 
14 14 14 — to 

IBft 17ft im-ft 

63ft +116 

2 20ft 20ft 20ft + ft 
2 Wft 14ft 14ft + 1* 
147 177(6 175ft 177 +ft 
486 46ft 451* 46(6— Hi 
2 104ft 104ft 104ft + ft 
X lift lift lift 
339 3916 3816 
2516 24ft 
25ft 25U 

23ft 23 . 

45 44V, 44ft + ft 

lift 10ft 1116+ to 
40ft 3916 40ft + to 

- aft ai* an— w 

111* 29ft 2816 29ft + 1* 
“ 14ft Wft Wft— 16 

13 Oft 12ft + ft 

aft a a 

33ft 331* 33ft 

22 are aft— to 

541W. 90 90(6 + to 

B?b 8<k Bft— to 
41ft 40 (A 41ft +1(6 
26ft a 26(6 + 16 
22ft 22 22V. + ft 

75 24ft 241b— ft 
24M 3<to 2<to+ to 

23 22ft 33 

17* 17(6 1716— lb 
22 ft 21 ft a*— ft 
33ft 33ft 33ft— ft 
10ft 1016 10ft + lb 
19* 19 19 - (6 

17(6 17 17to 
10 9ft 9*—* 

10 ft io raw.— to 

22ft 27ft 22ft— ft 

76 7m 25ft +lto 

22to 21to 22to+ ft 

24ft 24 V* 24ft 

26 * an an— to 

52* a 52* + ft 
9to 916 9ft + to 

\ ’* + 

2ft 2(6 2* + Ik 

52* 50ft 52(6 +lto 
44V) 44(6 44M 
55 54* 55 + to 

54ft 54 54ft+ ft 

aft 20 ft 20 ft 

31* 30ft 31 
39to 37* 39to+lto 
XXX +1* 
53ft 53ft 53ft 
34* 34ft 34ft 

37 36 to a + ft 

7.1 aieawx 33ft 33V. 33 * + to 
11 954 2ffft 277* 28ft + ft 

87 23 198*197(6190* + * 

X 75 72M 75 +Zto 

9 674 23ft 231* 23to 
J3fX7U0ia 9 0*9 +16 

41 40ft 40*— to 
101k 10* W* 

12ft lira 12V. + ft 
3* 32VS 33ft +lto 
m 577* 59* +1* 

__ _ . 34Vn 33ft Mto+ ft 

3.12 7S 0 77 4516.44* 44ft— * 

XI* 149 6 664 14* 14Va 14to— 16 

400 us 2 Mz a x a 

475 141 30z 33* 33ft X* + * 

li* 66 49 46 y+1 

200c 64 Vk MM i A6to— lft 
1023 Mto 25ft 25ft 
1193 35to 34ft 35to + Ik 
281k 28ft 28ft + to 
30to 20 20to+ to 

43ft 41ft 43to+lft 
76 to 75 747k + ft 

91» 91to 91to +116 
40 39* 40 + * 

62 6116 6tft + ft 

24ft 24* 24* 

7 6* 616—W 

30* 29to 30* + to 

16 15ft 15ft + to 

an 19* 20to + to 

19W m i6ft— * 

INI S6M 56to 5k to— * 
281 13* 12ft IJto + * 

17 17 17 + ft 

17to 16* 17to+lft 
31* 30ft 30ft— lb 

18 17M 17ft + to 

281k 28ft 2S1h + ft 
20to 20 20V, + to 

WVk X X + to 

176 45 13 5437 Wft 59to 6Mh +lft 
a04 13 lift 13 4 ft 
»ft » 2916 


44 13 
1J0 11.1 5 

JB 70 t 
200 110 9 
JO 2.7 12 

re io x 

” IO 


39 

348 

113 

U 

774 

617 

3970 

13 

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27 


100 XS 

40 U 

40b 1-3 
103 U 


239 
9 183 
9 1218 
7 42 


££ 3&! WBPni 14Bb 5J 10 13S 24* S<6 £ to 

CrtWIk 1 JB 3J 7 303x 40ft 39ft 40ft + ft 
9ft E 0 !?*** w s 15 124 19 ISto 15*— to 

I* aja is, a » ii!J ss gaTi 1 * 

T S SSS, 6 622 

aw a* csopt are 
wwftoopf U2 m 
W7M 97 CSOpfnlSJS 14J 
91 Vi 27* Combln 2S8 50 11 

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l»b 8 Comdte 
jOft J 5ft cemiwn 
3*k It* Comdre 
2Bft lift Omit 

U C-iEpI 1J011J 
13* CwEpf ZOO 119 

'SL. £"iP» ”•*> ”-0 

126 

22 IBftCwEol 237 103 
Wft 20fk CwE pf 287 11J 
* 46 CWE pf 734 128 

25ft l*ft ComES - 

31* 20* Comsat 
32* 16ft CPsycs 
3M% Camper 
I8to 11 Campse 
re* 29 Caivsn 
30ft 19* CanAss 

Mft lift cane? 

Jgi Conn E s 132 6J 
26 JJto CnnNG 240 M 

It? ISJ £°»ifw re 28 

31* 22ft ConsEd 240 8.1 

< 2* Con|« 665 112 

Jii * Cong pi 580 ii j 

34ft 75 CeittFd 144 42 10 


1 52M Sto S2to— V. 
4 a 25* 25*— ft 

2 20 Wft 191b + ft 
1001 107 107 107 
S «h A* + ft 

„ W? “ft +> 

12 11 linx 15* 14V, 15 + ft 

28 13 47 17ft 17ft 1 7ft + ft 

J J'ft 12* lift 12* + U 
t SKI 27ft 27(6 27ft 
21 16* 16 16* + * 

iioooxini ioi in 

160z 0to 66ft 66ft-1 

1 22 22 X 

‘ Wto 24ft Mft + ft 

Tta X 3B X 
27 Xft 23ft 23ft + (6 
®5*3Jto X ffto+ft 

7ia a* soft ai* + ra 

9 33* 32* 33* + * 
07 lift 157k 15*- * 
X 2338 44* 42ft 43*+ ft 
Z9USDX 29ft 5m- ? 
3* 22ft 72 £3 

24 18* 17* 18* + H 
9 2Sft 2SV6 23* 

23 Wft 1416 14ft— (6 
MK 29ft 29ft 29* + ft 
lsa “* «to aft +1M 
10 «ft 4316 43% — ft 


184 

SO 

J6 


380 118 


2J2 9.9 = 
180 U 13 
M 8 a 
8Se lj ii 

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34ft 2Dft CnsFrts 180 49 12 Six MU 33* Sk + * 
^ 31 CiaNG 2J2 56 8 717 41* ^ t £ 


12Msnth 
HWt Low Stock 


My.YM.FE 


Sit. 

inns HWl Low 


QOM... 
OuotQroe 


121b 4ft ConsPw 
29* 13(6 CnPpfB 480 17J 

Wft 23(6 CnP pfO 7 re. 178 

SBft 25* CnP ptE 7J2 17 3 

SB* 75 CnPpfG 7J» 176 

28ft lift CnPprV 440 HL3 

23* 9* CnP aril 260 178 

2516 1016 CnPprT 3J8 184 

25ft 11(6 CdP prR 480 188 
a 10* CnP prP 388 18.1 
25(6 ID* CnPnrN 385 184 
Wft 7* CnP prM 280 168 

15 7 CnP pel. Z23 178 

26ft 11 CnP prt 402 186 

Wft 7* CnPprK 243 174 

40 23ft CntlCp 260 &6 

9ft 4* Conti l| 

3* ft Contll rt 
a* 12 Cntlllpf 
4ft ft CHiHdn 
34 18 ContTel 

aft 24* CIDoto 
39ft 33 CtlOtpf 
33* 22* Conwd 
3ft 1 vJGoobU 
327k a Conor 


74 


62 

107 

57 

10 

80 

B 

73 

44 

a 

6 1078 
573 
1180 
11 
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9 842 


1 J2 .. . 

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480 118 
180 16 11 


191b 40 
836 a 


182 


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86 

286 


10 9 

11 15 
38 

16 16 
4J 12 
34 16 


84 


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27 10* CoaoCh 830 J 3 

19 12* CoprTr 

24ft lift Coopvls 
73 11* Capwtd 

24 16ft Cardura 
14* 10* Corel n 
75ft 59ft CamG 
30 29* CarnGwl 

42ft 32* CorBtK 180 

55* 39* Cox Cm 
Bft 4(6 Crate 
40* 27 Crane 
73V6 38ft CravRs 
28* 16* Crock N ... 

33 15* CrdkNpf 118 118 

23* 19* CrmoK 180 XI 10 

SO 34* CrwnCk 14 104 

30* 27* CrwZel 180 38 13 1270 

51ft 43 CrZelpf 463 94 140 

63ft 90 CrZelPfC450 74 18 

26* 18* Culbrv 40 24 6 IB 

2m 12* CullnetS « 2578 

88ft 6116 CumEn 120 38 5 285 

47* 30* CurfW IX 34 10 50 

48 27ft CydOM 1.10 24 10 99 


135 
166 

24 X 1449 
4 17 296 

140b 4-7 11 IW 
75 1357 
40 U 404 
182 


6 1287 6ft 6* 6* 

m. 25* 25* 25%— to 

sore 43* re re* +1* 

400z 43ft 42* 43ft +lft 
560* 44ft 44 44ft + ft 
37 24 23* 24 + to 

20* 2DVk 20W+ to 
20* 20ft 2m 
a* a* a* + * 

22ft 22 22 — ft 

21 20* 20* + Vk 

14* 14ft T496+V. 
13 12* 12*— to 

a* a* a* + * 

Wto 14 14 — * 

40Vk 39ft 39* 

9* 8* 9ft + ft 
3ft 2* 3to + to 
40* 40ft 40* + 16 
lto 1* 1* 

23* 23ft 23*+ ft 
36* 35* a* + Vk 
40 40 +1 

_ 37 27*+ to 

lft 1* lft 
32ft 31* 32* + * 
35* 35 35* + to 

15* Wto 15ft + ft 
19* IBft 19* + * 
19 18* 18*— to 

IS .14* 14* — Vs 
23* 23(6 23*+ to 
13ft 12* IS 
75 74* 74*— Hi 

XXX 

42(6 40 41* +1* 

53* 53Vk S3 — * 
7* 7* 7* 

34* 33* 34 
75ft a* 75* +4to 
25* 25ft 2SVk 
__ 19 10* 19 +* 

19* 23* 23 23* + ft 

49* 48* 49* +1 
3416 33* 33* 

48* 47* 48(6 + * 
57ft 57ft 57ft 
75 34* W*— * 

Z7ft 25* 27ft +lft 
88 87* 88 

35ft 3SVb J5ft + * 
46*6 46(6 4**— * 


SI 45* PHhcpI 6J5 1X3 
54* XV. Flxchb 180 2J X 
» Bto FlrtiFd 85e 8 
32* 20V. FltFnG >132 42 I 
47ft 42ft FI1F pf 463eTM 
28* 14* FieetEn .86 
Wft 22(6 F tom no 
32V. 23* Flex tV 
12* 10* Flexlpf 
36* 19ft FttetSi 
Xft 12ft FloatPt 
X 29* FtaEC 
25(6 18* FlaPra 
21ft 11* FlaStl 
I.. 3* FlwGen 
19(6 lift Flawrs 
23* Wft Fluor 
54M> Oft FooleC 
a* X FordM 
12* 10(6 FtDeor 
6516 45* FtHowd 
14* 10 FostWh 
1116 6* FoxStP 
3Sft 27 Foxbra 
11* 5Vk FMOG 
2Sto 13ft FrpIMC 
34ft 20* Frlglm 
28* 19 Fruehts .. 

33 75 Front pf 280 

34* 70 Fuoua re 


29V. 28* 29(6 + * 
9* 9* 9*+ ft 

47* 47 47 — ft 

7(6 7 7(6 + to 

Xft 27* 28ft + * 
30* 29ft 30*+ ft 
20* X 20*— * 
25* 25* 25*— Vk 


90 
24 
65 
320 

TJ II Z719 
88 Zt 13 1M1 
80 28 13 73 

181 128 34 

20 8 a 47 

15 254 
-1H 4 11 98 

Z16 17 t 177 

re 28 13 IX 

94 

re Z2 18 1715 
re 2.1900 2807 
220 O 10 27 

200 42 3 8918 
IX 11.1 27 

184 28 16 324 
84. 12 W 1137 
88 78 14 29 

1JM 33 55 730 
Z13023J 225 

80 30 15 1154 
80 2J IS 279 

80 22 7 909 
68 34 

18 9 XI 


51 


51 + * 


36* 36* 36*+ * 
10* 10* 10*— ft 

32* a* a*— * 

46ft 46* 46ft— to 
28* 27ft X + * 
35(6 34(6 J4ft— * 
32* 33 32(6 + (6 

12* 12ft 12* + ft 
35* 35ft 35*— ft 
2*to 25* Bft + ft 
Xft X 38* + * 
25 24* 24* 

16 15ft 16 + ft 
5ft 5* 5ft + ft 
IB* IB 18(6 — ft 
19ft 18(6 1* + ft 

a* sift sift— ft 

4816 47 48 + to 

12to 12 1216 + ft 

45(6 64 65(6 +1 

13* ISto 13* 

8* B* 8* 

29* 36* a *— 3* 
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60ft 47ft DetE Pf 788 110 
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34ft 30* duPot pi 380 li 
43* 39 duPntpf 450 ll 
X* 22V6 DuXoP 288 __ 

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69 57 Dukepf 780 118 

25ft a* Dukepf 289 1CL5 
33* 28 Duke of 3A5 118 
1 0* 89ft Dukepf 1180 186 
78* 64ft Dok PtM 884 118 
73 48ft Dukepf BJS 11 J 


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34* 19* GCA 14 

64* 40* GE1CO 88 18 11 
10* 4 GEO 
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25* 17* GopStr SO 28 13 
30* 10* Geartit 80 11 15 
19* 13* Gel co 86 11 15 
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69* 46V, Gem Re 184 20 B 1019 

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53* 39* GnSisnl IX U M 721 

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25* 21(6 GaPwpf 275 11J 

62* 52 GaPwpf 780 128 

62 51(6 GaPwpf 772 127 

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1476 Bft INCO JD 18 
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DISCOUNT brokers international INC 

r«E — .g...r-rwt APfWCx >«j t-OMMlSS'Cto S4 vipqs 


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REDUCE YOUR COMMISSIONS 
IN THE U.5. 

CALL US IN THE U.K. 

COMMISSIONS RANGE FROM 5 C^reTOTO®IIS 
PER SHARE ACCORDING TO SEE OF ORDER 

11 IMflUTS nut FIELDS, LONDON WCZ, EHGUNI 
Telephone: (441 ) 242-2305 Tdax: 23842 


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26* 20* MasCp 

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13* Bft Mattel 

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a* 23to McDerl 180 68 2B 1BC 

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59 to 40% McDnl 9 82 18 14 1990 

74* 47* McDoO 184 28 9 509 

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98ft 90 JerC pf 1380 138 
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39* 70 JottnJn 13 U U 

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29* a* Jorum 180 4.1 17 

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20* 21% JovMte 180 58 14 


224 2Sft 25to 25% + ft 
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366 22* 22ft 22*+ % 
167 13* 13(6 lift + ft 
595* 40ft 39* 40(6 + ft 
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lOta 98 98 90 +lft 

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48ft 33ft Mellon 288 
27 22* Mellon pt 288 118 

45ft 30% MeMII 184 38 12 
61* 40to Merc&t IX 
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45* 45 45% + ft 

32* a* 32%+* 

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33(6 32* 22*+ ft 
15* 11V. 15* + * 
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SS S5 2. unBnJ IS 1 H *1 1253 71ft 67% 71ft +2% 
IN lift DuoLf TM 137 7 2069 15ft 15ft 15% 


17 12ft Duqpf 287 13.1 

JSS 3?5 Dw « >27 

17% 13* Duqpr 131 186 

25% 73 Duppt 273 118 

57% 43* Dud pf 7J0 128 

18ft Bft QVEDPt X 25 8 
Mlk 17ft DvnAm X 8 12 


40re 15% 15% 15% + ft 
13 IBft Wft Wft + ft 
«nz 17% 17 17 — ft 

9re is is a +1 

ire a a a — iu 

44 lift io* um, + ft 

115 a% a a —ft 


30* a* EGG 
30* 21% ESvrt 
70 20* EfteleP 

X* 12 E09CO 
6ft 3* EastAIr 
Jft m CAL WTO 
lft ft EALwtA 
13* 6* EsAlret 
15* 6% EAlrpfB 
17 9% EAlrofC 

X* 19V. EartGF 
U 12ft EntUtl 
78 60% ErtCed 

4W6 37% Eaten 
3* Wto EdMIn 
32(6 XU Eckert 
39% 32ft EdUBr 
IS* 13 EDO 

XV, 18ft Edward __ 

»ft Mb EPGpt Z7S 128 
38ft 23* EPGpt 
14* 9 EITOTO 
Mto Bft El cor 
7to 2* EI«A3 
.Mk 4* EMM 
10% .7% EMM of un 10-1 
25* 13 ElCtepa 
If* llto Etetn 
17% 5* EfcKtat 


3- 


1J a 706 37* aft 37* + % 
17 14 1769 X 28% Tf + Ik 
37 18 1S7 28(6 Xft X + % 
U .363 19* 18* 19 +ft 
1713 4* 4(6 4*— % 

M 3ft 5 2 — ft 

67 % * % 

.70 IN 10(6 10ft— ft 
111 13% lift 12 — to 

.a uanS ssjag^-" 

w IW * « TOk ITVk 17ft— ft 

A* 14 6007 72* 71(6 72*+* 

180 20 ID 1194 60 59 59% + ft 

76 28 13 227 29ft Xft 2B% + ft 

.180 3.1 M 5S5 33 a* 32 + S 

8 37 36% 34%— ft 

XI 17* 17 17*— * 

ran Xft aft Sft + to 
14 »* X 29ft 
a w*b a 28to + * 
3w 13% 13% 1»- ft 
37 9% 9(6 9(6-% 

TO 4ft 3% 4ft + ft 
49 5% 5* 5% 

5 10 9% 9%-* 

1 X 259. 24* 24ft— * - 
,aJ I5ft+-ft-| 


180 48 8 
34 
80 


36 19 


14 


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16 


EmrsEI 280 38 15 393 75% 74% 7N + ft 
1?^ lES? Of 2-2 IS ,8W 13ft 12* 13 + ft 

I!? 4 i ftwy * JO 28 12 407 19ft 19 IN + ft 

S'* Wft Emhorl ireb 48 11 673 a% aft 31%— ft 

®. 'g 1 Emu Dl 176 87 7 MX 19% 19ft— ft 

£ Slgl S£ a 2 * 

^ * IS •” ,w s* >£ ,tt * 

riS I'TE" 72 2J II 393 32ft a 22% +1 

35% Wto ErtfeCu Si 18 14 113 35% 3416 3SU +lto 

17ft Ensereti 188 SJ 16 4X0 27% 27ft 27ft- ft 
102,0! , 0 , ni 


4(4 HRTn 

27% 19(6 NallFS UB 
44 X* Halbin 100 
lft % Hound JB 
9* 5% Haiwdpf a 
55* 38% HsmrP 204 
13* 11* HcmJS - “ 

19* is* Hpnjl 
47 a* HonCJm 
X IS* HondH 
X* 16% Hanna 
49% 23* HarflrJ 
5N 32ft Harfctd 
12* 7* Hamfrti 
D Vj 14* HrpRw 
38% 27% Harris 
IN 18* HarOrn 
37* 19 Horaai 
31% Xft Hcrtmx 

W% 13% HattSe .. 

0% 15* HawEls 184 77 
JJfc 8 HavesA .100 8 
34* 15% Hazletn 
11* 9 HazLab 
TO6 9% Hocks 
aft Uto HedaM 
27 14* Helhnn 

33 15* Heme 

« n Heinz 
X 12% HalneC 
25% 18 HafmP 
5% 3* HemCa 
TO* nft Horn Inc 
37% 27% Hernia 
20 13% HcrlK _ 

a* in Hemcpf ijo os 

41% 38% Kershv ire 37 11 
21% 5(6 HAtoten 
4416 3lft HewfPk 
30 17ft Hex cel 
19to 12 HlSheor 
12* s* Hrvoit 
23% 17* Hitnort 
58% 45* HINen 
44ft Jl Hi tecta 
49 35% Holiday 

75 49ft HallyS 
27% 12 HonvD 
22to 11% HmPSD 
N 8 HmeGpf 1.10 128 
36% X* Hmtka X 9 X 


178 

79 

17 

60 

113 

61 

7 


37 504 

58 11 3895 
50 IX 537 
68 

_. 4J 8 
1.47O10.9 
1840 98 
72 LI 16 
e u 11 
80 2.1 13 
100 20 14 

1.12 28 19 
9 

80 28 18 4 

88 28 IS 3345 
207 

ITS A3 14 
UB 4.1 9 
180 I1J II 
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9 

a u 46 
72 27 31 
JB 20 X 
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76 17 12 
180 27 12 
25 

34 18 75 

80 
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180 44 ID 04 

jtse 7 a m 
- 71 

539 

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72 8 15 6278 
80 11 19 78 

re 26 27 res 

13 11 223 

13 13 79 

11 M 214 

8 11 646 __ 

10 IS 2442 50% « 

1-5 11 X 66ft 66 

v m 

7 1740 
6 
864 


.IS 

54 

100 

39i 

30 

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3 W EnschpflBTS 1B3 

3(6 19b Ensren 21 

21% 9ft Entero 
3L. if* IkMEk USe 67 

21% W Entealn 170 63 7 

2^ X% EwHn IJO 44 14 

5% 3 Equlmlc 

SJ HJJ Eomkpf 231 157 

?2* aft Eat Res 172 4.9 5 

nft ft 12 13 « 

14* 8% Erbmnt J0e 13 17 

*£? 125 LisBs n J»e J 11 
a* 15* EssexC 0Cb 19 it 


232 2% 2ft 2ft 

83 9% 9ft 9*+ to 

64 18% 18 18% + 5 

®42 20% 20% 30*+ W 

59 36% U 36%+ ft 

» ,<* 4% 4ft- 

J M% 14ft 14% + ft 

IX* 35% 3Sto 3S* +■ ® 

in 12ft 12% I2to + ft 

ITS 13* 13% 13ft + ft 

470 17 Wft 17 + % 

75 Xft »ft 2N- to 


19* ■% HmUFn 00 27 5 X 
60(6 41* Hondo 40e 7 10 22X 

<6% 46% Henvrrtl 1J0 38 12 2911 

77V, 19ft HdovfU 1JU 19 w a 

26% 18 HrznBn 1.12 4J a 33 

X X Hftflrtpf 2JBeJZ2 7 

10 3% Horizon 

48% 35% H09PCB 
79 21% Hetelln 

36* 20% HOUOftM 
19% 13% HeuFeb 
35* a Houslnl 
72* 61 Holrrt pf 
. 33ft 17% Houlfld 


SBft 39% HauNG 
~ 9% HauOR 

2Jto 13% HawtCp 
a x* Hufconi 
13% R» Huffy 

21% 12* HuOnTI 


re m 14 asa 
are 9,1 13 x 

M 18 14 159 

re 11 11 ai 

175 5.1 8 1283 

ats 87 a 
288 10.9 6 932 
100 48 11 1187 
235090.9 07 

80 Ll » 41 

270 88 12 194 

re 10 8 353 
88 37 27« 


5% 5* 5* 

27* a* 2716 
a 30% 31 + (6 

1% 1(6 1% 

N f 9%+ to 
47% 47% 47* 

13* 13% U* 

17% 19 19(6— ft 

44% 47% 44% + % 
IBft 17% IBft + to 
19ft 19 19ft + ft 
190 58* 49* 50* +1(6 
TO Uto 55% 56 
749 12ft lift 12 + % 

4 30% S»t5 SW 
3J * 32 33(6+1 

ar 15* 15(4 IM + % 
140 27* 27 37(6— to 

645 a* 30* a —ft 
IS 15% 15% 15* 

1W 23 22% X* 

539 12% 12 12% + % 

S3 27* 27% 27% — (4 
13 11* 11% 11%— ft 
998 lift 11(6 11%+ ft 
677 IN ISM IM + to 
199 17* 16* 17 — (6 

71 a* a 21%+ * 

650 44(6 43* 43*— % 
76 IS 14% 14*— ft 
171 Rto 2D* aft 
5% 5% 5* 

11% 11% 11% + ft 

36% Xft 34 V, — * 
20* 19% 70 
94(6 a a — to 
a 37* 37%+ % 
SU Sft Sft 
38ft 36* X +lft 
V 28% 79 + % 
1916 Wft 19 — to 
12ft 11* 19 + ft 
33* 73 231s, 

58% SB* 58* + to 
» 39* » — (6 

' SO* +1% 
66 —16 
16% 16 16ft— to 

aft 20% 21 

N B* N+ ft 
22% 22% 22*— M 
18ft 14(6 14% + ft 
54* 52* 54ft— % 
63to 61(4 63 +1* 

TMh ^ijfc 71U. 

8I»ra N 4BT4 

25ft 24* 251b + ft 
24* Wft 24ft +1 
5-5 5 

45to 44* 45U + ft 
2N 20% 28%+ to 
34ft a% 34% 

IN IN IN + (4 
94% 34* 34 ft + ft 

n to* raft 
22% 22* 22%— ft 

45k 43% 45% +1% 
lift 10% 10% 

19ft 19 19 

25* 25to 25* + to 
13* 12* 13% t * 
ISto IS IS — * 


10ft 6% KOI 
17% 9% KLMj 
29* 33 KMIPt 
40* 26% Kmart 
36% Wft KN EIW 
20 to 12% Kotor Ai 
34to 14* KateCe 
20% 15V. KafCpf 
14* Mb Kara* 

101% 87 Kan0t»0flL63el3J 
20% 14(6 KCtyPL 2J4 110 5 
X* 29(6 KCPLpf 400 130 
IN 14(6 KCPLpf 220 IU 
X 15* KCPL pt 223 128 
54% X* KCSou 100 IJ 11 
14* lQto KCSopf 100 7.1 
18% 12* KanGE Z36 120 6 
35% 28ft KnnPU Z*6 87 7 
22 IB KaPLpf 232 108 
20% 17(6 KaPLpf 223 1DL9 
36% 17% Katyln 
91 49 Katypf 

19% IN KaufBr 
17% 17* Koufpf 
87* 68 Kautpf 
44* 27 Keltoee 
31V, 21* Keflwd 
4ft 1 Kenal 
X 19* Kenml 
25'A 20* KyUtil 
17 II KeiTGI 
26* 18% KerG of 
35 26(6 Kerr Me 

26* 16ft KevBk 
6% 2* KovCnn 
19% 14 Keyilnt 
Xft 76V, Ktede 
77(4 61% KldprB 400 
7716 63 KMpfC 408 
50>6 39% KlmbC 1 2J0 
Mto ato KnphlRd 36 
Xto 17% Kneor 2J0 
29% Wto Kalmar 32 
73V, 77ft Kooers 80 
103 96% Kpppr pflO0O 

16 12* Korean 

39% 29ft Krooer 200 
X 11 KuhllTM 80 
67* 44% Kyocers .141 
20% 13 Kvear 00 


J» 

284 

84 

un 

1.10 

uo 


7% 7* 7% + ft 

13(6 unb lift— ft 

37 X X 
41* 39% 41* +1* 
35ft 34% 35ft +-ft 
1783k IN 15% 14(6 + (6 
183 18* 17% 17% + ft 
278 17(6 17 17 — % 

373 11 10% 10% + ft 

210101 93* 92 97 +1% 

323 20* 20(6 20* 

700y 35% a* Wft— % 
5* IN IN 18%+ % 
3* 18* 18* IB*— (6 
717 54% 53* 54% + % 
SDta 14 14 14 + % 

18ft 18 IBft + ft 
a 33* 33% — ft 

a* aw a* + % 
20* 20 20* + % 
37* 35 37ft + % 
95 a* 94 +3 
19(6 IN 19ft + % 
IB 17% 17% + ft 
87to 86 87V. +7V, 

45* 44 44% + % 

31% 31% X% + 16 
1(6 1* 1(6 + ft 
Tla 25(6 24% 25to + * 
255 25(6 25ft 2S(6 

12% Wft 12ft— to 

X 19% IN— % 

30 29(6 2N+ ft 

73 76 26% + % 

3 2% 3 

19% IN 19 — * 
33 31% 32 + to 

7416 74(6 74(6 + (6 
74ft 74 74(6 + % 

47% 46% 47% + % 
33% 33 33% + % 

28 27% 28 + * 

a* a a* 

2K'. 70 2D%— ft 

7 HR 169 801 + % 

129 13(6 13 13 — ft 

5.1 12 1140 39ft 38* X + ft 

32 11 67 1 9ft 18% 1B%— (6 

J 27 51 51% 50% 51 —2(6 

40 7 3ax 19* X + % 


27** 27* 

56 56 +1 

100Z 51% 51% 51% 
lire 96(6 56 56(6— (h 

24ta 54% Sf* 5fl* 

5Dt 56* 56ft 56* 

’I ’££ IS %+* 

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146 -19% 19% IN 
106X 27(6 V 73 
71 15 MH 14%- * 
86 83(6 86 +2(4 

30% 30* 30ft— Ik 
Sft 7% Sft + « 
20% 20ft 2Bft- to 


20% X* 20% + % 

33% a + lb 


a 

7* 


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299 

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IBft 12 McbER 1J8 80 10 
Bft 4ft MK*lba 06 10 12 
3* 32* Mldcvn 2J6 98 8 
4(6 9(6 MldSUt ire 120 5 
5% 17 Mklftai 100 5.1 X 
8* X MWE 208 90 10 
17* lift MIllnR 80 Z7 15 
“5* 6916 MMM 3re 40 14 5200 
1% 23% nunPL 176 90 a ia 
a% 7ft Mianlro 
X* 15 IHuPSv 1 JOb 60 6 
20% 17% MQPSpf 284 110 
33* X% MoPSpf 4.12 111 
12* 4 Mitel 

Xft 231b Mobil 220 73 9 
4 * vIMoblH 

N 5% Mod CM 
25% lfito Mohoac 80 10 10 
IS 8* MohkDt 
22* 14% Monrch 00 4J » 

S 4N MnnSns 23B 11 1 4tM 

a* 76 MntDU Z56 IU 8 74 . _ 

38(6 16% MonPw Zfffl 111 0 B45 IN IN IN + ft \ A, 
IBft M% MonSI UOnlDJ 97 IB IT* 17* ‘ 

9ft 6% MONY 00 80 8 
51% 34% MooreC 200 40 13 
25* 10* MorvM 104 40 12 
28* 23* MorM Pf 200 9 J 
45* 28(6 Morons 2J0 40 1 
X 26% MorKnd 180 30 10 
a% 18* Morsel 81 40 I 
X 12 MfsKIv Ule 8.7 11 

a* 70 Mortens 04 U 13 

44to 79V. MoJrfOS 04 U 11 SOU 

34(6 IN Munfrd 04b 28 13 23 

23% 14 Munsne w 32 

« . 36 MunohC 180 30 10 216 

38* 23* MurpO 100 30 ID Ml 

23% 18* MurryO IX 50 11 43 

13% 11 MutOm 184el08 101 

11% 3* Myert-n 60 


180 

17 

2 

10 

774 

7876 

319 

83 

719 

644 

363 


162 

a 

x 

s 

X60 

657 

31 

540 


28ft 27g 28£ + » 

7ft 7* 7V, 

25* 75 25%+ % 

11% 11* 11%—% 
18* IB* 18*+ ft 
45% 43% US +% 
31 38ft a + ft 


9* Bft 9 
50* 50* 50% 

23% 93 23ft + ft 
26% 26% 36% 

45 43ft 45 +1% 
39ft 37* IN +1% 
M4. 70 20ft + ft 
Xft 1916 1N + * 
29% 29(6 Vk 
37* X* 37ft +1 
23% 22* 22% + to 
10* IN 18*— * 
42% 42* 42%+ ft 
X 37% 28*+ Ik 
2N 20* 2N + % 
IN 13* 13% 

4ft 4* 4% 


N 


15% 

17ft 

4% 

17% 

40 

31 

49 

17% 

17 

29% 

IT* 


23* LNHa 

2040108 

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a 

27 

26% 

26% 

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70 




12V. LLE Ry 

1220141 


211 

15ft 



2 LLCCfl 




39 

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2M1 












IBto LTVpf 

306 

130 


a2 

23* 





85 






13 LTV pt 

125 

78 


43 

17 

16% 

17 + % 

10* LQufnl 



15 

251 

12* 

12 

12* + * 

15% LacGss 


72 

7 

BZ 




8* Uriorsv 

JD 

23 


11* 

Bft 

BVa 

Mk- to 


23* 16 NAFCO 
SN 39% NBD 
24ft 14(6 NBf 
21 16* NCH 

39% 73 NCNB 
30* X* NCR* 
a* 13 NI Ind 
17 10ft NL Ind 
X 25to NUI 
2ft ft NVF 
45% 33* NWA 


W* 20 Nashua 

37* Jffto NatCun 

Wft lift NtCnvs 


37 

102 


X 

202 


re 


100 

06 


a* 21 21 — % 

59ft S9ft Xft + % 
16% 15% 16%+% 
a 01% 71 + % 
36V* 35 to 36(6— to 
29* 28* 29ft + * 

21% a% a% 

11* ii* ii*— to 
33 33 33 

1* 1 lib 

45% 44ft 45%+% 


98 
10 15 


16* 17* Lcnnaur 
.3% 1% LamScp 

14* ID* Lawtlns 06 40 13 

13* LearPI TO 0 14 

28% Xft LearPM 207 110 

51(6 37* LearSa 100 U 18 

ia 95 LearS pf 225 10 


Uo 

.92 


2.1 is 

40 11 

20 w 

10 73 
20 9 


10BelO0 

jo 10 a 
6 

50 31 


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35% M* LswyTr 

3N 20* LeeEnl 

14 9 LepMas 

IN 15* LdpPlot 
.4(6 2ft LehVol 
1616 iat LetKim 
M* 9ft Lennar 
Mk 16 LeucNi 

37ft 73 LevISt 105 50 31 749 

30 25% Unrltz .72 10 9 TM 

50* 38% LOF ----- 9? 

29% 21 LlttvCp 

72% S3 Lilly 

33% Uto Limited 

41% Xto LlncNIt . . 

Xft IBft UncPI 1240100 

n 5Ato Utten 200 20 

25* 16% Utten Pf 208 90 

48% 30* Lpckhd -*5® 10 9 3123 

42(6 3N Lacnte 00 20 13 1» 

131* W* Loews s 100 0 10 

44% 21* Loemwl 

Xft 19 Lam Fin 1.16 30 13 

35% 24% LomMf 406ell8 10 

38ft 17ft LnShF 100 70 9 

Lanes pf 539 100 


105 

.72 

102 

02 

300 

J4 

104 


20 8 
28 17 
48 II 24 M 
0 73 2345 
48 10 573 


26% X 76 — ft . 
15* 15% 15ft + ft | 
3 2* 2ft— ft | 

12(6 12 12(6 
23* 22* 22*— 1 
26% 25% 76 — ft | 
49ft 49 49V, + % 

IX ia IX — 1% 
19* 19 Wto + to 
33 V. 33 33 U. 

31* 31* a*— to ! 
13% 13* 13% — ft 1 
IW 1956 IM + ft 1 
3% 3(6 3% 

14ft 14* 14* 

14(6 13ft 14 —ft 
33% 33 33%+ % 

12% Xto 32% + ft 
“ ~ J8 + ft 


00b 30 10 67 

208 40 8 125 
I! 407 
38 14 im 
16 9 285 
30 9 tfm 

. 9 51 
U 791 
70 7 3 

20 215 

3 ?^ lUSfSf 0 ffi H !“ S3 Su Sft+r 

a Nolen 1J0 40 13 1157 Xto 25% X —to 

1 IM 28ft Xft 28*- lb 
Jg ,? 34 33* 39% 33* 

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70 " 1309 
4J 7 903 
. 230 

0 M2 
70 3 

1.9 15 4329 

L7 13 123 
14 7077 
118 


X 

5-00 

J2 

100 


9 508 


10* 3% LILCO 

31* U LILPfB 
S3 31* LILpfJ 
73 a* LILpfX 
73 9 LILPtW 

22% 9* LIL DIV 

27% llto ULPfU 
23ft Bft LIL PIT 
65 27(6 LIL PIS 

16ft 6 LILPfP 
17* 7 LIL MO 
49* 34 LOitODr 
29% 18* Lena 
15 10ft LflGenl 
aft 22% La Load 
26% 17 La Poe 
31ft 28ft LaPLpf 400 150 
W 16% La PL Pt 114 140 
XU. X* UmvCs 144 90 
in at LowBts 
29% Wto Lawn 
X* 11(6 Lubni 
X 23% Luovss 
19% 15% LuCkvS 
15(6 loft Lukens 


425 47* 47 47%— % 

30V. 79ft Xto + * 
73* 7T% 73* +1% i 
31% X 31*—% 
42ft 40* 4Zft +lft 
72 72 72 

70* 70(6 70ft— ft 
20* 20* 30* 

44% 45ft 46*+ ft 
35* 35V. 35* + ft 
<78 130 l»to 130 +4% 

87 43* jQto 43* +1* 
TO 32% 32* Mto— % 
329 Mft 3Sft 35%+ to 
139 » 24% 35 + * 

O 50 49ft 49ft— * 

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25ta KV. TSto 35*- * 
lire 42 43 42 

85 IN 19* 19* 

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■ S 5S2. »(6 + % 

» 23V, 23% 22* + Vk 
10 IN IN 18% + (6 

■TO l<ft IN Wft +% 

1J8 20 13 494 8*2*38=8 
04 is '? 1?* 1J ^ +,H 

un 

» 31 a* a 
" »% »% XW— to | 
200 4T 7 ‘“X 47H 47* S* + ^ 

02 1.1 17 766 28* 77% xft + % 

L0 12 1466X a* 23% a - to 
' ’ 21 31(6 3N It -ft 

T74 W IN IN- ft 

112 14% Uto 14* + % 


x 11% NtEdus 
Xft 17to NotFGs 108 
44* 77 NotGVP UB 
<ft 2ft NIHom 
31% 73ft Nil 
» 56 Nil pf 

?7ft 17* NMrtE 
rt* 6% NMlneS 
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U% 9* NtSeml 

tt^ SSr c !. n '■?! U 11 
lt% Jl 911 U stand 80 2J 9 

Ilf* IJ Nercon 88*30 7 
2»to 21% NevPw 206 100 8 
P; NevPPJ 200 118 
IN Wft NevPpf 1.95 11.9 
TO* -8ft NevSvL JD 4A 7 
»* 28* NErwtl 380 90 « 
X% 19 NJRsc 204 80 10 
Xft 14% NYSEG 284 100 6 
a NY5 of 135 UJ. 
55% NYSpf 800 120 
w NYSofA 301e120 
13* NYSpf 2.12 110 
NYS pfD 305 120 

JO 20 11 


19 

107 

14 


30 
70 
X 
M 

29% 24 

rag 13(6 Newell 
42% 29 Newhal 
14 11 NawMI 

raft 716 NwhlRs 
54ft 31 Newmt 
,1% Nwart 
17% 12 NteMP 
X ZZ NIOMM 
Bft 26 NlaMpf 
<* X* NlaMpI 
« 75 NIMof 

jj% }5% NknSh 
wtk Nlootet 
2pb Wto NICOR 
12* NoblAi 


40Beoij 22 


ZOO 110 t 

180 120 

4.10 120 

6.10 170 
1080 I1J 

1.9MI2J 

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304 100 15 

Si Sf HSSSe 385 SJ “ 

S% 5% Horst r 240 63 

Su. » Nortlrof 4.77*100 

TOfc w Nartek ju 0 

aft 42 HA Cool 100 10 

Sii NAPhl » (00 2J 


Wft 2S» 25ft— ft 
41% 40* 41*— ft 
4* 4 4* + * 

31% a* si* 

64 M 64 —I 
TO 77 Z7*k + % 
9* 9% 9%+ft 

Xto 37ft 37ft — ft 
IT* 13% 13ft + ft 
29* x 29* + ft 
14% 14* 14% 

12* 11* 12*+ ft 
Xto 27% 27*— » 
Mta 20 to 20* 20ft + W 
2 16% 16% IN— ft 
X lift Mto llto— ft 
720 30% M(6 38* 

M 25% 25* 25* 

«« 22* 22* 22% + ft 
IS* 2* 1 * 28Vl 2B*— ft 
iTiu sun — 1 
1 24* a* 24ft— VI 
.1 IB ia 18 
64 X 29tk X + * 
IB* 1816 IS* 

42% 42* 42*— Vk 
1416 U* Uto +16 
9 n N- >6 
43 42* 47ft— 1% 

,3* 3* 3ft + * 

17% 17* IN + 16 
~ X* X*— ft 
-- — —1 


73 
10 
17 
SDB 
1118 
996 
Ste 27 
3002 X 


19 


7 1654 


l.W 

54 

1.16 

88 


U 21 
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(Continued on Page 10) 



«o* ■» iu 

^ 133 


I7to *to o55i' m.ta tzj 
O flPpfC 7 80 120 












BUSINESS ROUNDUP 


INTERNATIONAL HERALD TRIBUNE, TUESDAY. FEBRUARY 5, 1985 




, Volvo Buys a 26.6% Share 
Of Pharmacia Voting Right s 

Turis ° ^ 


Arab Bank Posts U*S. Film System Reviewed 


Juris Kaza 

International Herald Tribune 


SSLfjI «*** ““Pa^es «) offer nA.wHn.Hiau,- 

STOCKHOLM — The Swedish * sa ^ e u *he United States, RanWng Cora's group 

automaker Volvo A B is takinga Iff fi?!? 1 wcre “P 30 P®^ 1 “ rose26 percent mi! 

26 .6-percent share of the voting ?iq 5$: v mtw “ s J °‘ ,98 ^ 10 SU.06 Mffion while net 

capital in a Swedish phannacoS k f onor ; 0011 11 predict- after provisions rose U 

eal group, Pharmacia AB. Vow£ ^J?® 4 vBBaa from 5107 am 

announced Monday in a move that ihSf Th* i m r 25 h ^! 1CT group said Monday, 

surprised many analysts. ^ figure, 514.4 million The group, winch acqi 

Volvo, Scandinavia’s largest on- ^ _ 70-percent share last > 

vale corporation, said it was ac P ? m °H* ***** Pharma- Spain's Banco Atlantic 

quiringneariy 2.7 million restricted said provisions rose to $< 

A shares and just over 5,000 imre- enriv hH™ dian f lpec,c ^ WP**- lion m 1984 from $20 mil 

stricted A shares on ivhairTt f ntl ^ because ol considerable 1981 
consortium. spending on research and develop- its loan portfolio incres 


Ofil 


#•« . n 

■k- consortium. 

Volvo officials said members of 
the group would be disclosed later. 


ment. 

-Volvo’s cliainnaii and chief e«c- 

“ 6 ^7 ‘i*S 

"“■» steo caphaL {,W°LSS y ” W ‘" d * ‘ i> 

tt-tSKSF SSESJfSM! 

StSafiSfAt aasarjar* - 

international contractor, and fn- a _ , . 




u, 

5fc\ 


international contractor, and ’in- 
vestment AB Cardo. which has ma- 


A senior analyst at a London 
brokerage called the announce- 
ment “nun. tt.l n •_ 


.rr""‘™“ uu I "“ ulu «a»- brokerage called the announce- 

SIm^^ fflS “ ,ChemiStryafld raem “P ure - Volvo." in 

piMt genetics. the spirit of ihe company's earlier 


moe. *“** over wc 8»n government and its ven- 

most or all of Phannaaa. lures in oO prospecting, oil trading, 

pi imgjggra aa»gg* which ^ 

New Strategies for Sotheby’s 


(Continued from Page 7) 
president of Citibank’s private 
banking and investment diviaon. 

Leveraging is a controversial is- 
sue for de al er s, for financiers and 


• I-gndmg in unusual forms. For 
example, recently Sotheby’s creat- 
ed a catalog for a European collec- 
tor who pledged to sen his collec- 
tion 10 years hence through the 
auction house. The publishing pro- 


certainly for Sotheby’s most direct auction house. The publishing pro- 
competitor, Christie’s Intonation- ject is reckoned by Mis. Brooks to 
ai, the world's second-largest auc- be worth the equivalent of a 
lion house. $50,000 loan for that period on a 

Skeptics maintain that the treat- collection worth $4 million. Inter- 
ment of art as collateral by banks 651 will be paid at the time of the 
and auction houses may lead to a sale. 

spiraling of prices and adverse con- • Lending to buyers. As part of a 

sequences for investors and lend- competitive strategy for w inning 
ers. consignments, Sotheby’s has ar- 


cas. 

“i 


has ar- 


Creating a financial vehicle ranged through a major bank to 

tJ 1. ■ 3 . • • 1- m 


could enlarge potential demand furnish credit up to one year for 
and cause art to be marked up,” prospective bidders at the sale in 
Mr. Salomon said. April of Impressionist paintings 

Eugene V. Thaw, a New York from the estate of the late Florence 
dealer in fine ait, is dismayed th»« J- Gould, daughter-in-law of Jay 
art, collateralized, "becomes a Gould, the 19th-century financier, 
commodity like pock bellies or Normally, buyers at auction must 
wheat. " pay promptly: private individuals 

When someone buys art strictly within three days, dealers within 30 
for investment, he warned, ‘Tie can days. 

go wrong because you may be The ability to delay payment can j 
forced to sell at the wrong time." make an enormous difference in 


go wrong because you may be 
forced to sell at the wrong time." 


make an enormous 


The bask (SCQDOIDIC law of the sales prices, Mrs. Brooks says. This 
marketplace poses a major chair financing option is believed to have 
lenge in the changing art world. ' gpen the auction house a competi- 

The supply of fine quality art, . tive edge overn consortium ofdeal- 


everyone acknowledges, is shrink- era in obtaining the collection from 
mg against widening demand from the executors of the Gould estate, 
ne^ rich eolketms and nrasanns. Tbe sale is expected to bring at 

The danger, many predict is that least $25 milium and to set records 
Sotlkby's and other fenders will be lor this category of fine art, already 
financing second-rate art with in- the most eatpensive and one that 
Sated values to feed what they see affords the oiggest profit margins 
as a fastgrowing marker. for the auction house. 

Mr. Taubman, chairman and The other financing options are 
corporate strategist for Sotheby’s, regarded as profitable activities as 
estimates that $25 billion in art and wefl as seductive lures to attract 
other collectibles is sold worldwide customers. 


each year. 


Sotheby’s takes advantage of the 


The two rival auc tion bouses, spread in interest rates between 
Sotheby’s and Christie's, account what the auction bouse, with the 
for only $1 billion. Beyond that, tremendous financial muscle of its 
Michael L. Ainshe. president and new owners, has to pay for money 
chief executive officer of Sotheby’s and what it charges its customers. 
Holdings, guesses that $400 billion Consideration is being given to 
worth of an may be held in private establishing a finance subsidiary, 
collections throughout the world, an art-market version of General 


exclusive of what Is owned by mu- 
seums, and that the average hold- 
ingperiod is 20 years. 

“We are looking at the issue of 
velocity," said Mr. Ainslie, a Har- 
vard MBA, who was once a real 
estate developer. “If people are 
holding for that long, can’t we help 
■ them nave mare fun by improving 
“ u their ooDections at a faster pace?” 

Leveraging and marketing are 
two concepts at the con of Mr. 
Taubman’s success. 

The founder and chairman of the 
Taubman Ox, based in Michigan, 
buOt his fortune on dramatic real- 
estate projects. He is steering Soth- 
eby’s into channels of finance 
where other auction houses and 
dealers have been reluctant to 
tread: 

• Lending to sellers. In the past, i 
Sotheby’s and Christie’s infre- 
quently advanced money on mer- 
chandise scheduled for sale several 
months hence. Bat last year. Soth- 
eby’s lent about $12 mfflion to 130 
consignors in London and New 
York, a 30-percent increase in such 
transactions over the year before. 
Terms: an interest rate of two to 
three percentage points above 
. prime on 50 percent of the agreed 
"j reserve, the confidential winim nm 
price set by the seller and the auc- 
tioneer. 

coBectors^fvec if no sale in the 
near future is contemplated, Soth- 
eby’s encourages them "to nuke 
their collections work for them," 
said Diana D. Brooks, executive 


an art-market version of General 
Motors Acceptance Corp., which 
provides credit for anto purchases. 


HOUSTON, TEXAS, tLSJL 


Far information contact: 

Lloyd J. Williams Beaton 
5629 PM I960 Weak. Stole 210 
H atn u o n , TV. 77069. 

TeLz (713) 586-9399. Ttzs 387356 


Wring Resources 
I n t er n at io n al N.V. 

NAV. as at 31-1-85 
$43.58 


INFORMATION: 

Pierson, Hetdring & Pierson N.V., 
Hervnigracfit 214, Amsterdam. 


Gold OptiOTCtpfe»toS/<tf4. 

Ite Hi I W 

so OflO-USO 222S3175 

3D SCO- 725 MOM7.5D Z15H5£0 

to 21D. 225 JQ7S1225 VSM 

330 QJS- 125 rm Mo 025.1*25 

330 025 IIB OS 5/5 9X112B 

SP am 0JD 256 225 &T5- &2S 

GcfeXOSQ-XHflO 

VafenWUteWcM&A. 

1. Qoal <fe MwM-Knc 
Mil Gtam L S at eiHanil 
TcL 31 8251 - Tate* 283BS 


takes physical possession of the 
collateral depends on the auction 
house's assessment of the borrow- 
er’s overall credit posture. Terms: 
three to five points above prime, 
for up to a year. 


FORBGN & COLONIAL 
RESERVE ASSET FUND 

FKBAT3L1& 
As USDCUAKCASH SK1I6 

is uumjB&tycASH tvt 

Ci DQUAfi BOWS 51046 

ft twJicuHacvBCtcs gan 

& stmt© assets cions 

FCfiSCN i COtOMAL 
MANAGEMB'JT (BBEV) IMJ® 

14 ujtcAsiB suEr5«BHjese(A 
ia_iQ5J07351 THBt 419SOS3 

FOR OTHER FA CFUFCS, SEE 
INTBaumNAl FUNIS UST 


■"** S tn 

DeVoe-Holbein 

International bv S ® 

Gty-Qock 

International nr 3% 

Quotes as at Feb. A 1985 


Investors seeking above average 
capital gains in global stock 
markers can simply write us a 
note and the weekly 
INVESTORS ALERT newsletter 
will be sent free and without 
obligation. 


First Commerce Securities bv 
Herengradit 483 
1017 BT Amsterdam 
The Netherlands 
Telephone: (0)31 20 260901 
Telex: 14507 firco nf 


26% Asset Gain 

Reuters 

r MANAMA Bahrain — Arab 

;, Banking Corp.’s group assets 

> rose 26 percent in 1984 to 

> SI 1.06 billion whole net profit 
after provisions rose to SI 10 

I mfllioo from $107 million, the 
r group said Monday. 

1 The group, winch acquired a 
70-percent share last year in 
Spain's Banco Atlamico SA 
i said provisions rose to $45 m3- 
lion in 1 984 from $20 auDioa in 
1983. 

Its loan portfolio increased to 
$4.65 billion from S3 J6 billion. 
Deposits rose to $8.78 bflhoo 
from $7.44 billion while share- 
holder equity rose 8.4 pcatical to 

$1.11 wW 

Intergroup Posts 
4th-Quarter Profit 

The Associated Press 

PITTSBURGH —National In- 
tergroup Inc. on Monday an- 
nounced a fourth-quarter profit of 
$12.8 million, compared with a loss 
of $38 milli nn in the like period a 
year earlier. 

The fourth-quarter earnings 
were 44 cents per share, including 


or 36 cents per share. The company 
has sharply reduced its interest in 
steehnalong and has asked for ap- 
proval of a merger with a Los An- 
geles-based distribution company. 

Sales in the fourth quarter, the 

first full quarter since the company* 
sold half of its interest in its Na- 
tional Steel Corp. unit, fell to* 
$176.6 nrilU cm from $7843 million 
a year earlier. For the year, it had a 
profit of $52.6 minion, or $133 a 
share, compared with a loss of 
$1543 minion in 1983. 


By Leslie Maitland Werner . 

New York Times Service 

WASHINGTON — The Justice 
De p ar tm e n t's antitrust division is. 
expected to rale soon on an ««nc 
that could radically change the way 
films are distributed. 

The chief of the division. Assis- 
tant Attorney General J. Paul 
McGrath, is evaluating whether the 
so-called "Paramount decrees", 
should be terminated or mrntifwf) 
after more than 30 years. 

The major distributors who are 
subject to these complicated con- 
sent decrees would generally favor 
termination. Theater owners say 
loss of the decrees could hurt the- 
aters and moviegoers. 

The decrees restrict (he distribu- 
tors 2)th Century-Fox FQm Corp, 
Warner Brothers and MGM/Umt- 
ed Artists from owning fljem 

They also require those distribu- 
tors and Paramount Pictures, Uni- 
versal Studios and Columbia Pic- 
tures to license films for 
distribution on a picture-by-pic- 
lure, theater-by-theater basis. 

Mr. McGrath said the decision 
to roevahiate the decrees was made 


m 1981 as part of a general review 
ca consent decrees. 

■ A decision by the department 
that a decree stolid be terminated 
would add considerable weight to 
any motion by a defendant in court 
to dissolve the decree; he pointed 
out. 

“Today we have a policy that all 
antitrust decrees have a 10-year 
Bnut and then they expire,'’ Mr. 
McGrath sa i d. “But the Paramount 
decrees, and most decrees until re- 
cently, were open-ended. The ques- 
tion is whether a District Court 
judge should regulate an industry 
through very old consent decrees, 
or whether an industry should be 
regulated by antitrust law.** 

David Handdman, senior vice 
president and general counsel for 
20th Centuty-Eox, said the decrees 
woe aimed at preventing studios 
from coercing theater owners into 
taking films they did not want as a 
condition for ge tting those they 
wanted. 

He added, “It wouldn't happen 
today. Competition for the enter- 
tainment dollar is more 
and the antitrust laws are mnrfi 
more sophisticated." 


The Perpetual Calendar 


Company Earnings 

Revenue end profits, in millions, ore In local currencies 
unless otherwise Indicated 



Australia 


Western Minina 
M Half ms TfM 

Revenue 77ZK 22*45 

Proms U7V 1M9 

Per Shore — QAU QA6 


Canada 


manor. im wo 

Revenue *0X8 jsij 

Pram 45 lalSAS 

Yeor HM im 

Revenue 1 520. l.m 

Net tool 773 22 * 9 

0 ; tan Results Ui US. dol- 
lars. 


United States 

Amerada Has 

4th Ooar. IM 1NQ 

Revenue l.«a 2J20. 

Net inc. <013.91 57.0 

Per Share — asfl 

Yeor m« 1N3 

Revenue & 3 SCL SXBL 

Nek Inc. 171X44 2QSJS 

Per Share- — 241 2X3 

a: lass. 

Amotefc 

WtQoor. IfM HU 

Revenue 121 J Ills 

Oper Net tL6 7.11 

oper Share— U7 023 


„ Yeor m* m2 

Revenue 5019 *4X2 

Oper Net <17 m 

Oper Shore— V» Ijg 

WW leg net, ktetodes tax 
credit etlM cents ostxre. but 
tm nets exetude aam of 2 t 
cents tram sate oi Invest- 
ment 


Revenue 9iuo 7 * 4 x 1 

Net Inc. 450 *ui 

Per Shore 199 1J0 

Yew IfM Ha 

Revenue X500. wax 

Net Inc. 2540 93 JO 

Per Share 7X5 X04 


rfe*-« 


(Other Earnings on Page 1(0 


Manufacturers Hanover 
completes another record year. 


Extracted from a letter to shareholders 
by John F. McGillicuddy , ; Chairman. 

“I am very pleased to report that our 
corporation’s earnings reached a new high in 
1984. In fact, our net income of $352.5 million 
represents this institution’s 12th consecutive 
year of record results. 

“Fourth quarter earnings totalled $106.2 
million, an increase of 23 percent over last 
year’s fourth quarter. Even more significant was 
the fact that our earnings per share for this 
period reached $2.14 up from $2.13 a year ago 
and $1.69 in the third quarter of 1984. This means 
that the dilution resulting from the issuance of 
common and prefe rred stock— both related to the 
acquisition of CTT Financial Corporation — has 
been reversed, and in only nine month’s time. 

“A major factor in this reversal was that 
CIT’s performance more than lived up to 
expectations. Since it was acquired on May 1st, 
CIT has contributed $31.7 million to our bottom 
line — that, after all charges for interest-related 
financing costs and the amortization of the 
purchase premium. On a pro forma basis, had 
CIT been with us for the mil year instead of only 
eight months, it would have contribut ed 
approximately $45 million. We expect CIT will 
contribute at an even higher level in 1985. 

“Other highlights of the year worth 
noting include: 

“A 35 .7 percent increase in primary capi- 
tal, up $l-2 bjLLion to $4.4 billion. This brought 
our ratio of primary capital to assets to 5.77 
percent, up from 5D1 percent a year ago. In the 
past three years, we have added $2J2 billion to 
our primary capital base. 

“A $198 million addition to our reserve 


Net Income 

$in MHons 


S143 W? 


7371757177717)10 TO 1 82 "83 "M 30 31 


for possible loan losses. This 45.8 percent 
increase m our reserves came after absorbing 
a record $2592 million in net loan charge-offs. 
This means that despite the impact of a grossly 
uneven economic recovery, both at home and 
abroad, we were able to absorb our losses out 
of current earnings even as we bolstered our 
reserve by an additional $198 million. At year’s 
end, our reserve totaled $630.7 million, rep- 
resenting a ratio of reserves to total loans of 
1D8 percent, up from 20 percent a year ago. 

“A 33 percent increase _in other operating 
income to $823 million. This $204 million 
improvement means that we continue to derive 
an ever-growing share of our revenues from fee* 
based services that make little or no claim on 
our capital ratios. Improvements came in 
virtually all sectors of our business, but were 
particularly strong in the areas of foreign 
exchange trading, securities trading and 
investment banking. 

“On the international scene, progress 
continued to be made during the year, with a 
major debt restructuring for Mexico and with 
Argentina reaching agreement with the Inter- 
national Monetary Fund and major creditor 
banks. The result was a partial payment 
of past-due interest by Argentina at year’s 
end. Despite this payment, our earnings for 
the year were reduced by $262 million after- 
tax by the impact of certain nonaccrual 
Argentine loans. 

“Our strong performance in the fourth 
quarter, particularly given the challenges we 
faced, provides us with a great deal of 
momentum as we enter 1985.” 





The Financial Source. 3 ” Worldwide. 


A hill earnings report and complete financial statements are available pending publication of tbe 1984 Annual Report and 1Q-K in early March. 
Write Manufacturers Hanover Corporation, Corporate Communications DepL. 270 Farit Avenue, New York. NY 10017. 






Mondays 

MSE 


Tables Include Ifte notiomride prices 
dp to the dosing on Wall Street 


(Continued from Page 8) 



29% is PHH 88 XO 12 *67 29% 2 TVi 29% + 1 % 

40 2JU6 PPG 140 U 9 2145 Mb JSVb 30ft + % 

24% 15 PSA 00 14 235 251b 24 25Vb +lVb 

un 13V. PSA dot 1.90 IS 45 19% ISM 1914 + fb 

13% 11V. PacAS I.i'J llj IB 13 12% 13 

I7V< 12% PocGE 172 1 X 2 & 1712 17 16% 15% + 14 

42% 3Bffs PdcLIb 132 &4 11 2*7 39% 39% 39*— Vb 

29 20 % PcLum 1 JO U 14 44 27% 27V , 27% + % 

10 % 5% PocRss JHr 7 4S M % M4b 

19% 13% PotFlvpl XOO 12.7 40 15% 15% 1514+14 

17% 11 % PocSd M 15 IJ 40 1614 14 MM + 14 

71 Vb 52% PocTeto 500 77 S 1407 70% 69*6 49%— 4b ' 

26 V. 21 PodtCP 232 U 1 1146 2414 25% 2414 + 4b 

33% 27% Pocffpf 4JS7 115 28 32% 32% 32V>— % 

39% 23% PoinWb SO I 8 40 5102 41 37% m +1% 

31* 2693 PobiWpf 225 7 JO 1086 3214 30% 3214 + % 

39 24% Palm Be 120 12 10 139B 37% 37% 37% + Vb 

2414 20V. PanABk 66 2S 1 327 23 23% 23 


24Vk 20 V. PanABk 06 19 8 327 23 23% 23 

714 4 PanAm 902 4% 4% 4% 

4% 1 % PanAwi 11 ] M 2 2 

19% 13% Pondckn JO 1.1 IB 170 18% 18% IBM + lb 

39% 31 PanftEC 230 53 10 021 3SM 38 3SM+M 

5% 3 FanJPr 14 1147 414 4 414 

16% 12 PaprcR 00 5.1 H 200 16% 15% 15%— % 

18% 1014 Partfvn 50 412 17% 16% 17U + % 

26 12% PorkE s IS 56 16% 1614 16%— % 


26 12% PorkEs 

12 % 5* Pancon .16 ta 

39 2514 ParkH 1.12 23 

18% 12% ParkPn 69 33 

J» 1% PolPfrt 


14 1147 414 4 414 

30 5.1 14 200 16% 15% 15% — % 

50 412 17% 16% I7U + % 

15 56 16% 1614 16%— % 

.11 U 551 4% 6 % 6 % + % 

.12 23 12 B5B 39% 38% 39% + % 

69 33 27 101 16% 15% 14% 

141 3% 2 2 - % 


n Month 
Hloti Low Slack 


27% 14 PovINW 34 13 10 2443 24% 24% 26% + % 


17% ]|% Par NP 
2114 13% PayCsh 
13% 6 W PeaMy 
1% Panoo 
53% 36% Pea On 


6 18 1*95 20% 2D* 20% + % 


112 B? 
116] 1 
13 953 S3 


8% 8%— % 
% %— * 
52% 59%+% 


55% 44% Penney 236 40 B 1381 40% 47% 40% + % 


25% 19% PaPL 260 100 
34 30% PaPL Pf 460 120 

37% 30 PaPL Pf 460 129 
27% 2314 PaPLdprlC 126 
24% 20 PaPL rtprSJS) 120 
65% 56% PaPL pr 860 130 
1% 22 % PaPL dpr 2 JS 136 
29% 2 SV. PaFLdpr375 I 2 S 
04% 65% PoPLPt 934 116 
97% 01 % PaPLprllOO 117 
43 54% PaPL pr 030 119 


264 25 24% 24% — % 

lOCz 3414 34% 3414— % 
lfa 35 35 35 — % 

22 27% 27% 27% — % 
1 24% 2414 2414— Vb 
3401 44% 44% 64% 

4 26 26 26 — 14 

7 29% 29% 2914— % 
30z S0% 00 % 00% —1% 
1401 94 92% 94 +1 

220 r 62 61 62 + % 


2 M 

27% Quoted x 



II 

1652 

37% 

36% 

WA + % 

20 

15 

QuakSO 

8 S 

30 

15 

2537 

21 

19% 

21 + 1 % 

IT% 

6 % Quanex 



49 

249 

9% 

9% 

9%- % 

32% 

22 

Quesftar 

180 

57 

W 

332 

30% 

29% 

30% + % 

24% 

14 

OKRBtl 

780 

8 

19 

372 

23% 

22 % 

23% + % 


Dlv. YM. PE 1 KB Won Low Qua:. 01*00 


17 

72'.* 

21 * 

1622 

46% 

44* 

*7 

50 


26 

34% 

341- 

177 

30% 

30V 

483 

17% 


33 

77 


21 

271* 

21 

25% 


3 

30% 

30* 

1 

17% 

17V 

14 
52 
1 52 

! 333 

16% 

43% 

28 

37to 

439 

zn 

36* 



&s»bs EESh Js 

ssssse ^ a ElsSiS 

21% Zurriln ,5 43 » 263 30% 29 3*9+1% 


39% 31% Pen wit 220 5.7 12 641 38% 37% 38% + % 


Penwpf 160 6.9 


2 23% 2314 23% + 14 


4614 30% Penmai 220 50 20 414 44M 43% 4414— % 


82% 72 Pan p<B BOO 94 
16% 9% PeopEn 166 46 


150z 83% 83% 83% +1 
657 16% 15% 16 — % 



36% ZJ% Pep Boy 36 16 16 134 37 34% MM + % 
45% 34% PepsiCo 168 19 21 2112 43% 42% 43% + % 

30% 17% PerkEI 66 16 17 1344 29 28% 29 + % 

10% 7% P natal 1.25c 146 7 1051 9 8 % 096— 14 

O TZ% PeryDr 60 13 IS 277 21 % 20 % 20 %— % 

Mb 27 Peirle 1.40 X7 17 70 38% 37% 3014 + 14 

32% 24% Pet Rs XTJoIO 63 26 25% 26+14 

17% 14 PeiRspt 167 106 29 15% 15% 15% + % 

7% 4 PtrlUV 163021.7 32 4% 4M 4% 

42% 29% Pfizer 160 17 13 4070 40% 3914 40% + M 

2% m PisslpO 2899 19% IBM 19% 

48% 34 P tie ID or 560 ll.l 306 45 44% 45 

41% 20 % PMbrS 64 13 12 8797 40% 39 40% +1 

16 V Phi to El 260 136 4 1401 14 I5M 16 + % 

29% 72 PtlllEpf XKJ 1X9 7Dz 27% 2714 27V. 

32% 25 PhtlEnf 4.40 14.1 2*0z 32 31% 31% + 16 

62 50% PtillE pi ars 146 1301 63% 61% 62% +1 


U-S. Futures ra».4 


18% 614 
40 209b 

34 29 

91 67% 

31% 24% 
34* 29% 
9% 6 % 

4% 3 
1714 1214 
36% 25 : 

8 % 5% I 
21 16% I 

9* 414 I 
65 47% I 

17% 8 % I 

40 34% I 

13% 7% I 
23% 16% I 
16% 9% I 

T5M 9 I 
14% 0 I 
10% 7% I 
2% % I 

37% 23 I 
6(4 3% I 
2 1% F 


.16 16 

164 Z7 11 
150 103 
460 44 
xra 73 

165 ms 
30 23 11 

66 34 9 
160 26 13 
37 

64 43 9 


160 36 17 
60 33 69 
I 212 104 
IJSe LI 12 
IS 

30 25 24 
13 


91 9 

2914 38% 
life 34 
10 87 
125 29% 
209 34% 
183 9% 

54 3% 

46 16% 
022 35% 
1056 7% 

66 10% 
539 5% 

380 60% 
31 13% 
2231 46% 
722 10% 
33 2914 
121 16% 
305 14% 
378 11 
4 8 * 

29 M 
154 35* ; 
1702 6 

86 1% 


9 + % 

37M + % 
34 

07 —1 
29% + % 
i 349% — % 
9% + % 
i 3% 

16% — % 
3514 + 96 
7% 

17*— 14 
S%+ % 
40 + % 

13% — % 
4614— % 
10%+ % 
20 % — % 
169b + % 
1494+ % 
12 + % 

**+% 
35% — W 
5%+ % 
114 


13 17 
68 32 

26 0 205 

36 10 65 

63 5 2731 
23 7 169 

22 12 493 
9 

4.1 13 
as / 

23 IS 
76 

J 10 
13 

28 24 

27 21 
4.7 9 
18 IS 
XI M 
56 6 
16 12 
4 A 13 
04 


Season Season 
Hloti Low 


Open Mtoti Law Close Os. 


WHEAT (CUT) 

5690 bu minimum- dollars per bushel 
464 337% Mar 361% 158% 

445 362% May 145% 159 

338 127% Jul 365% 368% 

X76% 320% Sep X3S% 369 

163% 367% Dec 147 149 

X74% 343 Mar 

EiUolis Prev.Salm 5602 

Prev.Oav Open int 39886 iu>312 
CORN 4CBT1 

5800 bu minimum- dollars per bushel 
365% 265 Mar 27094 262 

369 277% May 276 270% 

161 276% Jul 279 200 % 

361% 270% Sen 27214 272% 

295 265 Dec 265% 266% 

X 10 274% Mar 274% 275% 

331% 279% May 200% 200 % 

Es». Sales P rev. Sales 17869 

Prev. Day Open Int. 13X493 up 185$ 
SOYBEANS (COT) 

5600 bu mini mum- dollars per bushel 
70B% 549% tutor 5.96 6113% 

7.97 581% May 6 ir» 615% 

7.99 531% Jul 662 666 % 

766 535 Auo 662% 666 % 

6.71 535 Sep 6 . IB 660 

680 537 Now 6.16% 661 

669 6.10 Jan 

742 634 Mar 643 646 

739 645% May 

Est Salas Prev. Solos sum 


739 645% May 

Est Sales Prev. solos 28364 

Prev. Day Open Hit. 7188 4 off 30 
SOYBEAN MEALICBT) 

IS ions- Pol Lars per tan 
23980 13930 Mar 1 39 JO 139 JO 

20580 14580 May 145.10 14560 

19650 isaso Jul 15050 15000 

1BU0 15220 AuB 15X20 15X50 

17930 15480 Sep 15680 19680 

10030 15580 Oct 15880 15BJ0 

10480 16240 Dec 16X00 16333 

Est. Sales Prev. Solos 13469 

.Prev. Day Open Int. 40862 up 952 
SOYBEAN OIL(CBT) 

60800 lbs- dollars per 100 lbs. 

30.40 2295 Mar 2785 SL13 

30.10 2280 May 2780 Z7J0 

3X30 2270 Jul 26.40 2632 

WM 2250 Auo 26.15 2630 

25.95 2250 SOT 2580 25.75 

2680 2290 Od 

2435 2290 Dec 24.15 2485 

Ect. Sales Prev. Sola 1X711 

Prev. Day Open Inf. 40.929 up 2405 
OATS ICBT1 

5800 Du minimum- dollars per bushel 
1.96% 1.7016 Mar 1.76% 1.77 

131 189% Mar 132% 132% 

130% 180% Jul 180% 189 

1.79 185% Sep 186% 186% 

182% 188 Dec 

Est. Sam Prav. Sales 567 

Prev. Dav Open Ini. 3844 oft 38 


153% 388% +83% 
X4516 X49% +83% 
3J5 3J8% +JU 

X3S% X30% +03 

346% 349 +83 

X52 +8314 


270% 232 +80% 

236 278% +80% 

23B 280% +80% 

272 272% +8016 

285 286% +8! 

23416 235% +80% 
239% 280% +80% 


593 5.94 —.12% 

685% 686% — .12 

6.16% 6.1716 — v!2% 
6.18 4.19% —.11 

LI3 6.12 —89% 

L14 6.1416 -JM 

636% —87% 
641 641% — .0714 

649 —88 


1 Season 

Setraon 





High 

Low 

Ooen Hloti Law Ciaxe 

aw. 

ORANGE JUICE (NYCE1 
1 5800 Okl- cento per lb. 





183JO 

118-50 

Mar 17300 

17400 

17X30 

17530 

17155 

-05 

TS5.BS 

151-00 

May I75J0 

17600 

17585 

—05 

18605 

15580 

Jul 17700 

178.10 

17630 

17770 

—70 

lOXOB 

157 JS 

SOT 17500 

17580 

17SJ0 

17540 

— 2a 

181.00 

15780 

Nov 17480 

17405 

17480 

17480 

+.15 

jeojMj 

15600 

Jan 



I738D 

+.10 

177 

15670 

Mar 



17X58 

+.10 

■6X50 

16080 

Mav 



17X50 

+.10 



Jul 



17150 

+.10 

Est. Sola 

800 Prev. Sales X2S1 



Prev. Dav Open Inf. 7813 off 241 





NYSE Highs- Lows 


Feb. 4 


137 JO 137 JO — 330 
14130 14X40 — 330 
149.10 14940 — 280 
15130 15180 —240 
15430 154J0 —270 
15430 15680 -230 
16130 16200 -250 


TUB 2780 —JO 

2685 2630 —49 

2625 2639 -43 

25.90 2500 —40 

2530 2535 —.15 

2485 —.15 
24.15 2435 -87 


136% 136% 

1.72% 132% —80% 
180% 189 +80% 

186% 186% —8016 
189% 


•Livestock 


CATTLE (CME) 

4Luoa tbs. ■ cents per lb. 

67 JO 6200 FcO 6635 4637 

6*00 6X40 Apr 6035 *980 

6982 *580 Jun UBS *985 

6682 6X15 Auo 6630 4600 

65.10 61JM OCt 6435 6580 

65.90 6340 Dec 6190 6680 

66.10 6535 Feb 

Est. Sates 163*0 Prev. Sales 19325 
Prev. Dav Open Int. 60J06 up 1839 
FEEDER CATTLE (CMEI 
44800 Itn^ cents per lb. 

7435 6535 Mar 74.17 74J0 

7485 6740 Apr 7330 73-90 

7182 6435 May 7135 7130 

7226 6680 Auo 7215 7280 

7135 6780 -Sep 7130 7X25 

JJU® 67.10 Oct 70.73 n80 

7180 70.40 Nov 7135 7245 

Est. Sates 1810 Prev. Sales 1435 
Prev. Day Open lilt. 11338 up 232 
HOGS (CMEI 
30800 lbs.- cents per lb. 

5BJ0 4737 Feb 51 JO 5102 

5445 4110 Apr 4830 4930 

55-40 4040 Jun 5730 5 «* 

5537 4835 Jut 5440 5430 

5437 4730 AUO 5X28 5X50 

51.73 46.00 Oct 4035 4983 

5083 4630 DBC 4937 4940 

4930 4125 Fefa 4880 4160 

47J5 4175 Apr 

Est. Sates 5814 Prev. Sales 5396 
Prev. Dav Open Int, 29341 off 176 
PORK BELLIES (CMEI 
38800 lbs.- cents per lb. 

0183 6035 Feta 7X30 7430 

8130 6810 Mar 7X50 7430 

0280 61.15 MOV 7435 7430 

8287 62.15 Jul 7430 75.10 

8085 6030 Auo 7230 7380 

75.15 6X15 Feb 6530 6685 

7X40 <ML3G Mar 6585 6585 

Est. Sales 9397 Prev. Seles 9341 
Prev. Day Open ink 1X742 off 710 


|M2 IMP 35 

6852 6880 +85 

68*7 6897 +87 

6652 6632 +87 

6485 6430 +.15 

6130 6680 +.10 

6630 


7X50 7432 +85 

7135 7380 +85 

7140 71 JO +80 

72.15 72 30 +80 

71.70 7237 +72 

7070 7180 +180 

7175 7235 +35 


51.15 5135 
4835 4847 

5X40 5385 
5410 3452 
52.95 5120 

4840 49J» 

4980 49 JO 
4880 48JB 
4670 


7135 7177 

7185 7177 
7235 7X7S 
7280 7380 
7085 7085 

6460 6453 

6400 6400 


COPPER (COMEX) 

25800 lbs.- cents per lb. 

42.15 6X10 Feta 6185 6185 

9X20 55J0 Mar 6X30 6X75 

APT 

9230 5630 May 6X85 6335 

60-25 5780 Jul 6345 6385 

8X10 57 Je Sep 6330 6450 

8425 5850 DOC 6475 6630 

8420 5980 Jan 

©5® 5900 Mar 6580 6535 

74BB 61.10 Mar 0630 6630 

7448 613B -Jill 

70.90 6X30 Sep 6880 6B80 

Dec 

Est. Sales 12800 Prev. Sales 15706 
Prev. Day Open inf. 9X125 pff 1373 

SILVER (COMEX) 

5800 troy az.- cento per troy oc. 

72X5 -6153 Feb 6148 6143 

16203 5053 Mar 6168 6248 

. Apr 

15138 5958 May 6278 6338 

1461.0 *010 Jul 6345 64X0 

110X0 6140 Sop 6438 6518 

12308 6308 Dec 6578 6678 

12158 6338 Jan 

11938 6498 Mar 6838 6838 

104B8 6608 May 6940 6950 

9458 6738 Jul 

9408 6818 Sep 

Dec 

EsI. Sales 16800 Prev. Sates 26851 
Prev. Day Open Int 04905 off 00 

PLATINUM (NYME I 
50 trey az.- dollars pot trey ai. 

3061® 27780 Feta 

28200 27680 Mar 

44730 26530 Apr 27SJ0 Z7950 

44930 27280 Jul 27930 28480 

39380 27630 Oct 20780 20980 

37330 2B400 Jan 29130 29130 

Est. Soles 1343 Prev. Sales 1355 
Prev. Dav Open Inf. 1X150 off 60 

PALLADIUM (NYME) 

100 travel- donors D+rra 

16X50 10730 Mar 12635 12600 

W30 10632 Jun 12485 12430 

14980 10630 Sep 12X25 12230 

14130 10675 Dec 12135 12X25 

VtJX 11400 Mar 

Est. Sal rs 641 Prev. Safes 684 

Prev. Day Open mi. 6871 off 154 

GOLD (COMEX) 

laatroy ax.- dollars per trey ax. 

S22JD0 29670 Feb 30130 10X10 

31180 29880 Mar 30X00 30380 

51450 30080 Apr 30430 30630 

51880 304.00 Jun 30930 310.10 

4B50O 30030 A us 31X50 31430 

49380 31480 Oct 31930 310J0 

40930 31700 Dec 32X50 32410 

40530 325.00 Feb 

496-80 33030 Apr 33400 33490 

43X70 33680 Jun 33830 33630 . 

428.40 34280 Aub 

39X70 34X30 Oct 

Dec 

Est Sales 31800 Prev.Sales 24883 
Prev. Dav Open ML134966 off 468 


Financial 


6105 6X05 
6100 6X40 
6X70 
6X35 6305 
6300 6X65 
6X70 6435 
6450 65.10 
6X40 
6500 65.95 
6620 0655 
67.15 
6800 6770 
6855 


6145 6158 
6140 6198 
6219 
42X5 6284 

63X0 637-6 

6438 6478 
6568 6640 

6690 

6818 6808 
6948 6920 
705.1 
7181 
7378 



Company Earnings 

Revenue and profits. In millions, are In local 
currencies unless otherwise indicated 


(Other Earnings on Page 9) 

CPC Inti Lockheed 

MbQoor. 1984 19U «tbOoor. 1914 1983 

Revenue—. 1870. 9930 Revenue X540. 1890. 

Net inc. — - 55.1 ialOJS Net me. 1000 bu 

Per Share— 1.14 — Per Share 


Industrials 


-240 
—2.15 
“0.13 
— X15 

-X1S I 79. 
1 79. 

79. 
77. 


Net Inc _ 55.1 IalOJS Net Inc 1008 B3 6 

Per Share— 1.14 — Per Share — 105 I JO 

Year 1984 1983 Year 1984 1983 

Revenue— 4J70. 4810. Revenue 8.110. 6490. 

Net Inc - — 19X4 1367 Net Inc 3441 2610 

Per Share — XSS X81 Per Share — 578 4.18 

a ; Bass. J9B3 imts Include 
toss of US million front plant I Yu 

phaseout. XI v 

«ta floor. 1984 1983 

GMiihMBiH Revenue — X0O0. 1,510. 

""■ynOWM Net Inc (0)2467 70 

<th Qaar. 1984 1983 Per Share— — 004 

Revenue M 545.1 44X7 Y . ... imu im 

Net Inc 3657 2*71 r-JSSo 7j5l 4J^ 

Per Share — 075 049 r*, u« — _ J78J 100.7 

Year m* 1W3 a: toss iru nets Include 

52T" charge of SIX million. 

Net Inc 12583 185J 

Per Share — 156 133 Geieviat Mjirrli 

J«J nets include mMs td 

S7U million mouarter and of _4ttaQuor. 1904 1983 

smj million in rear from <Hs- Revenue 73QJ 655.1 

continued operations. OXt of Net Inc. 358 348 

SI3.I million and S14J million. Per Share— 186 184 

_ Year 1984 1983 

Grumman 52T WM! — 1M> l * 45B 

4th Qaar. 1984 1983 KJ star* — 177 1JB 

Revenue 7447 6188 w Mxjre -~ 

pw sfwreZI Si Sftap-ofi-Tools 

Year 1984 19tl elh Qaar. 1904 1983 

Revenue l&m. 1250. Revenue 1387 1170 

Net luc 1084 n6.7 Net Inc. 157 1X1 

Per Share— 303 382 Per Share— 074 005 

fWW nets Include write- Year 1184 1983 

down of SdA million. Revenue 539.9 454.7 

. . „ . . Net Inc 990 4 x 0 

Knight-Ridder Per snore— X93 112 

«b floor. 1984 1983 t„« m C—*-— 

Revenue 451.7 4087 1BXOS eaSISIT) 

Net Inc 467 403 401 floor. 1*84 1983 

Per Share— 070 801 Revenue— 1080. uoo. 

Year 1*84 19B3 Nrt — H71 »» 

Revenue 1460. 14 m pw share — IJ9 0-54 

Net Inc __ _ was 1194 Year 1984 1*83 

Per Share — XI 5 180 Revenue 4190. 5J90. 

Per share results adjusted Net tnc 21136 15430 

for 2-for-l split. Per Share— 404 197 


31'- 

21% VF Carp 

1.12 

38 

I 

753 

31% 

30 

31% + % 

22'- 

5% Valero 




4896 

8% 

8% 

B%+ % 

25 

14 voter of 

X44 

168 


209 

20% 

20% 

20% — % 

5% 

2 '- vaievln 




75 

2% 

1% 

2%+ % 

24% 

14% VanDrs 

02 

40 

6 

71 

24 

23% 

23% — % 

**V 

2U Vareu 




31 

3% 

3% 

3%— % 

20 

5% Varcopf 




S 

a 

a 

■ 

: 46"s 

30% varlan 

76 

7 

14 

705 

39% 

38% 

39 +% 

13% 

9% varo 

M 

11 

10 

117 

13 

12% 

13 +% 

25^1 

17% Veecn 

.40 

17 

15 

390 

24% 

23% 

34%+ % 

6% 

3% venao 




2 

4% 

4% 

4% 

18% 

8% vests* 

I70O11 + 


20 

10% 

10% 

10% + % 

39% 

23% Viacom 

-42 

I.I 

14 

63 

39%. 39 

39 + % 

65% 

54 VaEF pt 772 117 


400: 

66 

64% 

66 +1 

79% 

67% VaElof 

860 110 


- 330: 75 

74 

74 

S3 

68% VaEPrt 9.75 1X1 


2B0z 81 

80% 

80% —2% 

66% 

52% VaE pf J 

772 117 


33BZ *6% 

46 

66% + % 

24 

14% Vlshay 

UI5f 

70 

14 

138 

73% 

23 

23*6+ % 

38% 

25% varnad 



13 

19 

35% 

35% 

3S%+ % 

75 

50 VuicnM 

Z80 

IB 

11 

£2 

74% 

74 

74% 


30080 30X10 
30X00 mvei 
30X00 305.40 
30800 30970 
31150 31410 
31970 31870 

322.20 32XJU 
329.10 
33400 33450 
33830 340J0 
346J0 
35X70 
359 JO 


79 *107 71. 

38 913* 91: 



Stock indexes 


COFFEE CINYCSCEt 

37,500 lbs. - canto por Ih. _ „ 

15X50 12300 Mar 15180 

15280 12X01 May 147.90 15080 

14970 12100 Jul 14475 14600 

147 JO 12700 SOP 14275 U*» 

14IJ5 12975 DM 14200 14200 

13975 12&S0 Mar 

13830 13100 Mav 

Jul 

Est.Sam 2025 Prev. Sain X5M 
Prav. Day Open Inf. 14392 off 43 
SUGARWORLD II (NYCSCE) 

11 X 000 lbs.- cento perlh. 

1160 401 Mar 438 443 

1X50 434 MOV 407 473 

905 603 Jul 501 MJS 

9.75 450 SOT 577 577 

90S SJJ7 OC1 142 546 

7.73 5 J 5 Jan L93 5W 

9 J 3 602 Mar 638 640 

7.15 639 „A»OY 606 604 

Est. Shies 7,714 Prev. Sales 7064 
Piw. Day Ooen int. 9X573 w*M 

COCOA (NYCSCE) 

£8 m 

s s§ g s 

3415 2053 Sen 23*0 23M 

SS jS SS IS SS 

wSLm "-JSWj- 


15180 15X07 
14780 14985 
14473 14600 
14X75 14413 
14X00 14X38 
14003 
139.13 
13680 


425 479 

456 463 

408 407 

5.15 575 

57* LB 
593 583 

6J0 6J4 

602 602 


■ Indexes carnal tod shortly before market close ) 

SP COMP. INDEX I CME) 
points and cents 

£3 S IS !S 2 !S8 12 S S 3 US 

JS" JO"" NS 1K60 1^70 |E3 1®« +SS 

oM,« ,BJD 1W * w* «« 

Prev. Day Open int. 56717 affXIlS 

^J^EL'NE(KCBT) 
p awn s and cents 

SH2 l f af 15^® *100 19820 200.90 +xss 

gSftB ,7M0 p^.sS^°3^ ~ “ S3 

Prev.Oav Open Int. 7763 off 300 

ESIiS l S^to ,,DEX <mrFE > 

oanusano cents 

*** IBMS 10500 HQ0O 10130 +1.15 

Inowi S5 i 0 ” ,aU0 1a7A0 W570 107J0 +1J0 

ISk imne §21 IK'S 10705 10980 +170 

ESL5alas 10,50 pSSs^BJ ^ ,,MS +AS 

Prev. oav Open int. ll^jj up 47) 


London Commodities 

Feb. 4 

Figures in sterling per metric ton. 
Gasoil in U S. dollars per metric ton. 
GaM in U-S. dollars per ounce. 


HU Law CWt Previous 
SUGAR 

Mar 12140 12078 12140 12100 12970 12140 
MOV 13100 12800 12970 13900 13080 131.00 
Alia 13900 1J7JV 13700 13040 13970 1J90O 
Oct 14600 14200 14460 I44BQ 1X500 10*70 
Dec N.T. N.T. 15X00 15400 15200 15400 
Mar 1 07.00 16670 145.00 16680 16600 16700 
May N.T. N.T. 17X00 17388 17340 17500 
1.922 lots of 50 Ions. 

COCOA 

Mar 2755 2702 2750 1752 XIB7 X1B0 
May 2-272 2725 274* 2767 2713 2715 
-I hr 27 53 27M 2748 2749 X1B5 1187 
Sot 2727 2.186 2724 2726 XI65 X166 
Dec 2870 2815 2864 2860 2817 2820 
Mar 2847 2041 X04T 2045 2801 2807 
-y™ =^30 M40 1,980 X0I0 
7722 lots of 10 tans. 

COFFEE 

Ma- 2790 27» 2J89 3790 2778 2780 
MOV 2415 2J78 2413 2415 2JS2 2787 
Jlv 2424 2793 2423 2425 2792 2797 
Sot 2427 2794 2423 2424 2J93 2J98 
NOV 2440 2406 2436 2441 2404 2405 
Jan 2408 XfflB 2430 X434 2395 2005 
Mw M® 1406 2416 2430 23J5 2400 
1754 lots of 5 Isms. 

GASOIL 

Feb 23X25 23175 231.75 23200 23080 *iny 
MOT 22S7S 22375 22675 22580 22X75 22380 
API 21880 21675 21775 21800 31575 31675 
MOV 71630 71575 21675 21630 21430 21500 
Jun 21580 71500 71525 21600 71100 21480 
JIV 71575 31475 31X00 31500 31100 21400 
Aug 71475 71475 21580 22850 21100 21780 
SOT N.T. N.T. 31580 22500 J1UXJ 31980 
Oef N.T. N.T. 71500 23000 71100 72X00 
1742 lots at MO Ians. 

GOLD 

API 30450 30*00 N.Q. NJX NJX — 
JWI 30800 30870 NA NA N.Q. — 
35 Ms of 100 tray az. 

Sources: Reuters and London Petroleum Ei- 
eftanoe (oasont. 


I 



in the Trib. 


Get the latest 
low-down on 
high-tech in the 
weekly column on 


Asian Commodities 

Feb. 4 


HONG-KONG GOLD FUTURES 
U08 per ounce 

Hint. Low B^Art ST^St 
Feb _ N.T. N.T. 30080 307JN 10480 30680 
Mur _ N.T. N.T. 30X00 30480 30680 MBS 
Apr _ 30580 30ifi0 30480 X60O 30780 30980 
Jun _ N.T. N.T. 30800 31000 71XC0 31400 
Auj. _ 31300 31100 31280 3148B 31600 3li3o 
OCt — N.T. N.T. 317JB0 31980 32080 32X00 
Dec _ N.T. N.T. ajrnn Xu 00 J2580 327 JOB 
Volume. 21 tori ot lOOra ” 

SINGAPORE GOLD FUTURES 
U 80 per ounce 


Paris Commodities 
Feb. 4 

Swnr In French Francs per metric ton. 
Diner fttwres in Fraics per IDO kg. 


Cash Prices Feb. 4 


^ hn* Low Settle Settle 

f«b N.T. N.T. 300.90 30480 1 

Mar N.T. N.T. 30X60 30650 

Art 30480 30X70 304-30 30820 

Jun— N.T. N.T. 308.10 31X00 1 

Volume: 434 tots of 100 ol 

KUALA LUMPUR RUBBER 
Matovstai cents per Ulo 

Close Previous 

BI<t M IK UK 

Feb I87JW 18800 19980 is«j)o 

Mar 19380 19X50 1917s 19XS0 

Apr 19700 19080 19780 19800 

May 20080 70100 20080 20180 

Jun 20180 20X50 20180 20X30 

volume; 31 Ms. 

SINGAPORE RUBBER 
SMBapare cento par kilo 

Close Prev tars 

BM BIO AM 

"KJfte- m» 16600 16*80 11780 

RSS1 Mar- 17175 1727S 17175 17115 

RSS 2 Feb- 15800 15980 15880 15980 

RSS3Fota_ 15600 15780 15680 15700 

I RSS 4 Feta- 14900 15100 149JSJ 151.00 

RSS 5 Feta- 14100 14300 M10O 14380 

KUALA LUMPUR PALM OIL 
Makmian rfnsofti oar 25 tons 

Cte»e Previous 


Prev tars 
Bid AM 
16680 16780 

17175 17X15 

15880 15980 

15680 15780 

14*00 151.1*! 
14180 14380 


_ . BU AM 

Feb 1,180 171 s 

Mar 1.160 17r 

API 1,150 1J( 

Mnv 1.140 1,1 

Jun I.ua 1.1 

Jlv — — 1.120 1.1 

Sot 1.120 1.1 

NOV 1.110 T.l 

Jan 1,110 1,1 

Volume; 0 lots of 25 tons. 
Source: Harters. 


Commodify indues 


Previous 

97Z80f 

2014-30 

126.01 

248.10 


Sn m» SS n» 

2145 26 » MOT 110 V 43 

w jSLm ■-SErj- 

Prev, Day Open int. Sft 45 l up 3 S 


3298 2331 

2331 23*6 

2314 2340 

2205 2305 

2149 2150 

2135 2134 

3134 


Close 

NAf 

Raters 2A16JJ0 

DJ. Futures NA 

Com. Research Bureau- NA 

Moody’s : base 100 : Dec. 31. 1931, 
o ■ preliminary; f - final 
Reuters : base 100 : Sep. IB. 1931. 
Dow Jones : base 100 : Dec. 31, 1974. 


Market Guide 


Oitoooa Beard tf Trad* 
pilarso Mcrconttla E«chanM 
taerrWIonal /Wanrhiry Market 
OfChjcooo Mercaniiio Exchenw 

uSZ y 2S rSSSS? c®** Exchowo 

New Yort Cotton Exchanae 
Com madUv_ E tchc rnm. New Yorli 
New York Mercantile Exchange 
£ ons ??_S , l. Board of Trade 
New Yarn Futures exchanae 


London Metals Feb. 4 
Figures in sterling per metric ton. 
Sfivor In pence per troy ounce. 


1.1*0 1710 

USD 1000 
1.140 1.190 

LUO 1.100 
1.120 1.170 

LI 20 1,170 

1.110 1.1*0 
1.110 1.1*0 


1.175 1.19S 

1.150 1,190 

U30 1,100 1 

I.13B 1,170 

1.120 1.170 1 

1.110 1.160 1 
LUO 1.160 1 
U00 1.150 


suoar HWi Ldw Ctose or* 

\3S is? :s 

gr s Ijto ii 

N.T." n:t: tig tig V? 

-eawsMtafeaS 

COCOA 

mSJ 32 ns tin ifji 

1 g U Si a S II 

HE; Sx z gg t» 

Mew NX Bx - zmo 1 « 

COFFEE 

SK Sk MS u Ts 

g nx SR as JS uni 1 

Nov NX N.T. SS U "?V 

& K: NX as = *1 

» Prev.octuai sate : 

Source: Bourse du Commerce. 


DM Futures Options 

Feb. •I. 

W.Gonni MaMSiol) marts cents per mat 


Prim Mor J« SOT 1 «jr Jim 5 ^, 

30 175 165 — 80* OJB — 

31 «0 104 1^7 S3 #5 Hi 

5 nn «5 057 0-W 1.19 179 

33 U U U 10 ih « 

34 001 0.15 0J9 25 iS * 

Exjtewted total vgJ.I89t 

S2S: EL L "“MS® ■«* w. mn 

Pdf*. Frl. voL 30*9 mm M. 207SB 
Source: CME 


Dividends Feb. 4 


company Per Arm Pay Rec 

USUAL 

Carlisle Carp O 75 % XI 2-13 

OiMapeake UtIL Q 5 £{ in 

FlreiTter Inc S m iTic 11 

Jocoblon Stores O -.10 +15 3-22 

No* ca Chemical Q JO 3 -B X2D 

pSSftaSSS; H “ Mn - Q 5 w In 

renroancorp Q 00 3-1 3-15 

Ste 0)1 Retna Q jg 3-15 £l5 

Q A* +20 Ml 
o -<2 i-2 2-H 

Q 85 3-1 Ml 

S 12 r_! 2 m - q isvj 4-7 Ma 

WOsti Indian Wfr Pwr q 2 3^5 $■£ 

'■ Nwwnnltaly; Q+taarterty; V&Ml- 
Source: up/, 


Today 

Hloti orade cooper eathadn; 
spat 175100 175400 
3 months 177400 177*50 
Copper ca thode s ; 
spot 175080 175500 

3 months 17*600 176800 
Tin: spat 9.95000 9.9*000 1 
3 months 9,915-00 9.92000 1 
Lead: sort 3*080 34180 


17*400 17*500 
176500 176580 


NYCSCE: 

NYCE: 

COMEX; 

NYME: 

KC0T: 

NYFE- 


Lead: scat 
3 months 
Zinc: suat 
3 months 
5Hver:spot 

3 months 
Aluminium: 
SPOf 


34400 34400 
74600 74700 
74600 74*50 
54880 54900 
56780 St&tt 

90180 98X50 


3 months 18 J 280 101300 
NKkrtispgl LSa* 483000 
3 months 483500 48*500 
Sourer, neuters 


97000 W10O 
100000 100100 
<81000 481500 
*81000 *81500 


S&P 100 Index Options 
Feb. 1 


- i in* in* in* — 
in* i/h j/i* s. 
in* i/i* % h 

1/11 4k 4k IH 


Retail Sales Rose 2.27% 
In Britain in December 

Return 

LONDON— Tbe volume of re- 
tail sales in Britain rose 127 per- 
cent in December over the previous 
month, after revision for seasonal 
factors, the Department of Trade 
and Industry said Monday 
The department said that retail- 
sides volume For the last quarter--. 
whtch is considered a better com- 
parison than the month-by-montb 
"■f* -averaged 2 percent high- 
er than in the third quarter. 


Paris Asks Firms 
To Curb Payouts 

Reuters 

PARIS — The French govern- 
ment has sent a letter to the em- 
piqyers association, the Palronat. 
■filing. f or dividends to be held 
oown m line with wages, the Fi- 
nance Ministry said Monday. 

Tbe non-binding request pro* 
- hai d ‘ v ‘ dend increases! 
45^“ ‘“I? 1 cases, be limited to 

fET5f I !L , ^ as « ycar * target lev- 
^fc^both inflation and pay in- 

But the letter suggests that high- 
payouts could be made by com- 

KSTd&rf h ;! d P»s«l or rujuced 

“ar dwdends in the pm toe 

^1“ J™ 8 “ the distributim 

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SOW Znk BnfSMB JOc 

^ ’S,. S^P 8 *" 31 1-2 T> 

-gj Be««p JW115 
vWfa 14- BfcCp JJ jb b 

Mb Blftrite .15 24 

tu T 1J “ « ” 

IT MW, BioR A 

«S ™*ES3! **” 8 

!T* ,99b BlauntA AS 24 8 
17 in* BlountB 41 U I 
5,, 171% Botorp Js j jk 
20% Ht% BowVal 70 
,M% 2V* Bowtnr . if 

m* n 5w ISST, - " M 
P ig I^ D . ^ • 7 
Sib'SSKS £3,'? 


^ - 13 251% 25V4 2SW + Vb 

£ i §2 5£ 5g + ® 

JR11S 75 II » M »+% 

■* U » K 79b 81* + 1% 

J4t 37 14 23 1Mb 102b MW + 14 

9 gh 5V. 524+ 14 

»•« ’« 4 2 € -a « 

^ «SS£SS£t£ 

72 M 17 256 2624 2614 36M + av 
. 0 M4 4ta a Kk + , ‘ , 

■72 27 * 73 2524 2514 2524+ 14 

1? »2 28 ,! 12 13 12 — S 

‘i»B ,, !{ -St b 624 614 

-Kt 47 11 45 2214 22V* 2214—9% 

13 1524 1514 1514— 9b 

, M IS* 15» Utb— 2* 

“b 73 » «» 30 282* 2924 +]* 

* ^ * »» isw iTVk im+12* 

£ i*' 's fcaa** 

- 20 a »»* i»% wv. 

M 27 li 680 l2S I*? lSS+,g 


I? 2 S sa-js+a 


1 lit 5 ™?.* JO-KU 
•uu ,f?g“9?»p f ■»”<» 

W4 Buell 50 ill 


4 T3 13- u 4. ih 

£ 3 S to + B- 

j -a a a - 

1 f&f+t 


III5 GNC En 

11J* 31% GlExpt 
99b 41b GRI 

51% 21% GTJ a 

1M% 92b GaloxC 

39b 1V% GclxvO 

» 3Mb Go ran 170 4.1 I 

lD^ii 7 Gavlrd ia 

1Mb WbcSSis g 

5Vt 21b GamcD 91 

TJ5 121% GDtrfns JB 55 10 
49b 29h GnEmp iij js 
W 11» GnAjJcr . K) J, 1 3 
HVx 7¥% Ofpbco 

Jf£ lift g to u u 
’15 gn>R«6 5 

,?t% 19* GaaR wt 
11 BV. Geo Rapt 170 105 

is’StgSKV? - 1710 
iSbK f 

«% H4 GtbNRn 19 

R^SSS * 44U,a 

1ft 9k GtdEld 

lift ’£* GratS II 9 

t ^ ^ s {g 

.32* 1 Grootwf “ 

lit* 92* GrToch 15 

32V* 349b GtAffll 70 17 23 
55 “ OflLkC <40 1.1 16 
’9ft 6 Grenm s 10 

92* 42b Gretnnr 292 

13M m GrfJCh ' JO 0 *0 11 

It 189* GtfCd B set 5 

33ft 19ft Gtfbtr JO 1 J is 


1,7 mm, 4T '*"vuin 

iS? Morini 

J»* lift Motts 
Ml* 21b MIMed 
3] 16 Movstr 

®, f 1 * MovieL 

,£ft 3 Murom 
13}b 3ft MuseAr 
,& ft Muse w| 
lift 79b Myorli, 


1 11 414 4W 414— 1% 

if ™ ’ss 's 'sajs ^ 

» U N m Mfb 10 5V> 

7 « T£* 12ft 1214- ft H im 

170 4.1 8 44 W* 2*1? 2?* + V? 2ft 1^ 

■Me A 16 117 12ft 12 12-14 » 25t* 

i 4 S £ lift £ ^ SS 

^i?i* 

-“i <{*{« 13 

* 2ft 21b 2ft 31% 214 

'S'&n g^ISft 

ig« 

<<i 23 13 46 19ft 19 19ft lit% 9ft Numac 

’j* 1- H 8 *3 24ft 34 24ft + v% , 

'£ H 8 1314 U 13 — ft 34ft 1614 OEA 

■ft 1-9 12 19 21ft 2024 21ft + ft 2TH 14ft Oakwd 

10 37 in* 1014 IM + ft 7ft 4 OdelAn 

„ 35 1ft 1ft 1ft— ft 7ft Mb Odets 6 

U1 ,J} 15 131% 1314 1314 1ST* 9 OhArt 

-*} If 33 7 Kft 32 321% + ft 20J4 i l6Jb CHtalnd 

-ft W IS 12? 37ft 36ft 37ft + 1% 23ft 1JV Olsten 

-10 Ml 19ft 19 mi + ft TVb 3ft ooklep 

_. ™ 3ft K sk iw. 3ft Ooef* n 

-f* ** 71 M 12V* 12U 12V* + ft ■ 5»4 OrtalH A 

, „ ., 2JW 13ft lift 73ft + ft 7ft 5ft OrtalH B 


J»bl7 16 E7 15^ if* IS^T 5 
4 1 

- u. j ££ £ + * 

- «« 1 £££*a 

i « r s*ts 

ns 61% 5ft 6 - 1 % 
38 24 11 ” 111 ? £ „SVft 


.10 7 1. 570 19^ 17ft 19^+lVi 

M 45 15 d IS E llF* 
’■2“ ?■? ,2 HI !«£ MM £+ 1% 


2 Mi SiClr* 

.s-vrl-f 7 * 

8 a js»w*» 

25 137 

' a 4 ft r & 

9 32 10ft 10ft I Oft 
27 10ft 10ft 10ft 


w 9ft VST 1, 

£** 1514 VOJIvR 172 BJ 8 

K'SSSW - “ M 

5ft 3ft vent VI 

9 'IS wS C ‘ 40b ’- 9 10 
.!?* ft Verna 

1ft ’»? wfULl -W U 10 

ig g&ss; - ,B w 
.E ^vSSL 

171% IMb vim fUr _9 B 

» 45 vSSi 

,8t% Aft VbuaiG 78 as 12 

iBlSftESS 3eS T l 


Feb. 4 


AmRavattvn 

BlauntA 

CenSecur 

DupftxPrdb 

HormelG 

Lett Press 

fiSffiMSwi 

Per In 1 1 nv pf 

SanJaaoW 

Spectra 

TtHEd832Pf 

Wa sh P o st 


131 U I ^g af'g+ft 
^ ” ” 4M ^ft ^ ^ + S 

•«.i.9K g s 22- 2% 2^:; 

30 Mb Sft 5ft + ft 

w ii 10 ’S 'f 4 ’?? + » 

18 ’5^0“ Sft— Vb 

» g 2 S 

- ^ 7 3PPf*=* 

78AS 12 78 8 8-14 

34 U 74 34x 10% 1BU 109k + Vk 

ion 27 9 M ibS iRb mil 2 



6* 

24 

17% 

15 

10K 

31ft 

Z3 

32 L. 

22% 

TU 

ft 

9 

3ft 


4i u it % a2S aSft 2^2 
40 ii i Ti m; ^ rr^i & 

’ll a I? 29 ?S 28 27Vi 27ft + W 
•11 <i 17 3 27ft 269V 27ft- ft 

, 10 Ilk Ilk IU 

76 ,., 75 £ 9^ (K 

^ g | s aai* 
“ a,M a d 

» J ” ,0 7 

« 76 lift U lift + w 

J 59b 5ft 59k 

-42 26 7 ’i 

I* JS .13? 14b + ft 

^ £ £ sSSst; 
!S “i If BKI 

30 84 23*4 19ft 20V* + ft 

7 1«0 99b 91% 9ft ^ ft 

33 12 2 15ft 15ft ISft- 14 

5 3s««=s 


JW IJ 44 264 
70 16 6 28 

2791 37 11 so 


vi ' 5 ? '“*+ 1 % 

2M ft 6 4VS ftZiJ 

3B 22ft 22 22 

£0 mu iTJVj JMfc 4- 30W 

'°1 »iV5 TiH l«k 
3 ,2* 9ft 9ft + 1% 

3 IMb 16ft 16ft 
2 5ft 51% 5ft + ft ; 

5 21% 2ft «%-ft 


89ft 60V 
24ft 17 
91% M 

« s 

27 m 
714 IV 
5ft 3V; 

32? lift 

ISft 7 
lift 6ft 
Mb 4ft 
Stb 214 
24ft 15ft 
Bft ft 
15ft 7ft 
131% 814 
in* aw 

Oft 7ft 
18ft 14ft 
29ft 16 
20ft 9t% 
61% 3 
toi 4 m 
3ft l 
Ut* 121% 
23ft 19ft 
5 2ft 
15ft II 
bft 2ft 
17ft 121% 


M 1.1 15 
I AO 6J 17 
TO 1.9 6 
.16 IA 6 


70 15 

14 331 is 
11 96 99 


IJOe 87 15 36 

173e *7 22 B98 
20 04 


70 2J 33 IB Bft",!* 1ft + 

3 2ft 2ft 2ft — 1% 

u , ,Sft,5w,s ftia 

7 8 10ft TOM. 101b- ft 

* si a ® aasaTSi 

“ ’5 a rt! 


,40 23ft 22V4 22ft— ft 


■“ V* 'L 

' -.a" 's.,1^ ,r * ,sjts 


Seles ftauroa ora nnotflctaL Yearly htata and tows refleci 
the prevlaub 52 week* ptue the current ueefc. but nor tti* tala, 
trading day. Where a split or stack dtvldend amaurttao to 25 
percent or mare has bean paid, dm ratf* NaMow ram and 
dtvktand are shown for me new stock only. Unless ettierwtsa 

notea rates of tflvMands ant annual dtsburaaments bawd on 

the latest ds cl orpt l on. 

a — dividend ate extra lelJl 

b— anrnxH rate ef dtvtdand ptui stack dtvldaxL/1 

e— ltauVdating iflvMmdn 

ctd— caiiadyl 

d — new yearly irnyi 

e — dividend declared or paid la crscodina 12 manttvs^l 
* “ <■ vUand hi Ganadton funds, subloct to 15% nanmldence 
Ksx. 

I — dividend doctored afler splIMM or stack dividend. 

I — dividend paid this year, omttted. deferred, ur no action 
taken at latest dividend meettne. 

k— dividend declared or paid this year, an ocoimutattve 
Issue wttti dbWandx In arrears. 

n — new teue in the past 52 weeks. Tlw hlafHow ram bee bn 
ntlh the start of trodtaa. 
nd — next day delivery. 

P/E — price-aamlnm ratta 

r— dividend doctored or paid la precedlna 12 months, plus 
| stock dividend. 

•— stack MM.DMdHid begins wMii date of split 
sis— sales. 

t —avldand Paid m stack In precedlna 12 months, estimated 
cash vatiie on ax-dividend or ex^Ustrf button date. 

u— new yearly high, 
v — fradfna hatted. 

vl — In bankruptcy or raeehwnhfp or being jeeraan&ad un- 
der the Bankruptcy Act. or seat titles assumed by such atm- 
nteilei 

wd — whan Ostrlbuted. 
wl — when issued, 
ene— with warrants 
x — ewdlvldend or ex-r toots 
xd Is— exHflstrl button, 
xw— wltlMLt warrants, 
v— ex-dtvktond and sales in tulL 
nd— vtota. 

* — sales in hill. 


2ft lft swfte n S 1%. ?» + 14 

» ’e’SSS l H » « ”2 2$ ££+ ft 


2!? ;t"“fc>y 
16ft 9ft SystEn 


litk 6ftTBar 
W TV* TEC 
21ft 5ft TIE 
161* 6ft Til 


70 17 IS 117 Jim 30ft SOftlft 


f 


■« <i 

th d 


1014 111% CCHs « 

3 Sv%3;?cp ■ am,j,3B 

^ WWSSau - "S 

•;• 016 4ft CooSa | 

S'* 5® ? aR ? 170 11.1 13 
r ® i"M gamin 70 27 27 
iXt S? ton * 701 ‘17 ••* 
'IS J* Camaj J2 27 13 
•* 41b 2 Cnnsunt 

- , ^iS5E5SS: B 3 

•4 ~ -:!I* 2a« 1L .17 


‘,11 6ft CoreA 10* ■ u 
1Mb 5ft CorcEn 2D 

«b 36 CaroP pf 570 127 
,2? ,5J g°*ton J6t I2J 4 
1£J tflb cash A ■ JO *4 9 
33ft ZSft CasFd 270a 49 
7ft 4ft Castlnd 
_]J% ft Centenj 
?ift 2Mb CenM pf 3JD 117 
12ft 9ft CentSe 760el2J 
DtaCajUpfOlOO 7J 
2? SS £2*“^ JO 25 9 
TVs CtimpH IB 

17Vi 12Mi O wnpP J2 SA 11 


™. uw « :S£5*S* +, ‘ 

23 9 A ftb M4 

-34 2-3 IS 7 14ta IMb MV? 

’| 'J 7 13J IWb 73ft + ft 

2 ’i6 27 » «5 JU? li»— S 

ISEiJSJiJia 

jo no 12ta «Hb f- 'M>±& 

661 IU 4 23 S 4ft 4ftZ fi 

® }4 9 8 IMb TBft 18V4- fi 

20a A9 9 32ft 31ft 31ft 

S.S 

3 Jt , £ STS** 

„ « 5T2 3ft 3ft jft 

72 « 1] 19 141% 14ft 141% + ft 


SJRgSSS* 1 * 


Bl 


jf* 14V* OURV 170 <L5 10 
U 9ft ChfDvg 
20ft 9ft Chllfn s 19 

21ft Tift Citadel 13 

24ft 1M* CttFW TjOOb *<4 7 

5L Ii. S 7608 130 SJ 12 

42ft 28ft Ckrrmt 1.93* 47 
9ft 6ft CtarkC 78e U 8 
3MJ 21ft Ctarnst JDe 20 11 
2#* IJft Ctapqv .16 J 11 
JOHi 3ft tjamttr 
tM4 6ft CQhu 70 27 IB 
5ft 2 CalFwts 
J5* 8 Ctmtfdn 4 

15ft Bft Com In 6 
15ft 12 ComApf 1J3 107 


170 6J 10 3 181% 101% 181% 

1 inifj Wft 10ft 

I? J2 I?? 4 18 19ft + ft 

. 13 523 21ft 21ft 21ft 

IjOOb *4 7 73 229b 22ft aft + 14 

1J0 S3 12 22 22ft 22ft m? 

iraef* „ 17 3Wb 39ft 39ft + ft 

■2te JO B 2 914 914 9ft 

JOe 10 11 14 J5W 3414 25ft +lft 

.16 J 11 46 219* 20ft 21ft +lft 

*• 6ft 5ft i + 4b 
■20 27 18 7 Bft Mb 89* + ft 

45 5ft 5 5 — ft . 

4 156 14ft 14ft 141% — 1% 

71 101% 10ft 101% + 14 


TO* 4M 
Mft 12 
14 916 

35 24+ 

3ft lft 
24ft 91% 
»1% 22V* 
46ft 25V* 
21ft 141% 
Oft 5ft 
19ft 131% 
13ft lDVb 

,S£ tVt 
jf ^ 

Sft 2ft 
21ft 3ft 

55 J 1 

Oft 414 
5 2ft 
13ft 914 
,6ft 214 

S' 6 JSt* 

33 2514 

221ft 89b 

VOft 2ft 
16 lift 
Mb Mb 
Jft 4ft 
101% B 
U 61% 
41ft 28ft 
411% 28ft 
5S 38 
10 71ft 


24V* I61ft OEA ,- 

22«b 14ft Oakwd JBb A li 

7ft 4 OdelAn ii 

M* OdetBS 55 

189* 9 OhArt 74 u ,7 
20ft 1Mb OUalnd JO 20 15 
73ft 13ft Oistm JD 17 15 
7ft 31% OOktop 
i 14 " 3ft Opcnti n 23 

• 514 OrtalH A JO 66 12 

7ft 5ft OrlcdH B JO 77 12 

4 1 Omund 13 

4ft 214 Omm 

£L *}** OSutlim 72 z.1 ij 


-w a\}< 21 £SS*2fi + » 

“ S 2* 7 714+14 

« u k 4 iBf 

■4“ “ If 7 19ft 19ft 1 9ft 


60 *6 
■60a *7 11 
■90 26 11 


■60a 17 7 
3720100 8 


■56 47 9 18 

JOB Z1 14 35 

.,-W J U 5S 
ll75q 2921 

7 45 

40 190 


21 

38 

25 

.12 b 16 16 
1-00 12 11 


7 . 5 ,8ft 0 81% 

1 ss r ssts 

j ii* 

66 3014 29ft £ +1 

7 7 any 38vs 3sv* + ft 

in ^ 2 S.. + ft 

-S .JJ .TV* 71%— ft 

14 » '££ *2fi ’3ft + ft 

B J 13ft 1™ 

7 1 E 3ft SS-ft 

z 1 r * 

2 24 5 41% 4ft 

S S ,S?Tfi 
B 3 s j: ?fi:a 


* 21ft OSollvn 
Wft 6ft OxfrdF 
11 7ft OzorkH 


23ft 231* 23ft + 14 
7 6ft 694— ft 
51% 5ft 514— ft 
7V. 7ft 7ft 
79h 7H 794+ ft 

I* 4 IS ’**+ ft 

3 2ft 29b — ft 


S fj II ill Mft 34ft + 9b 

ZX'IX iSftl&iSSTfi 


JS a* Wft + 1% 


Jll 66 13 246 10ft 10ft 752 ” 

1J2 IU 10 14 1Mb 1»* lift 

.6*297 „g SS Jfi St** 

,2-15 9° l^BSftra 

Hf H 17 16 40ft *0 40 

2J6 M n IS 3W Wb + ft 

“ ” m » T* T*-"* 


J 3 ’O'* PCEpfA 1 JO 117 
I® 5!? E££ nfD US 117 

ISS 2 W ESI B,E 1JS i2J 

I2 ft nSu. ES§P ,G l- 20 11.9 
*4 MJb PGEplF 474 13J 
B14 269b PGEpfZ *06 177 
27 21ft PGEpfY 120 122 
gift J 7 !* PGEpfW 2J7 127 

9Mk If 4 ESI-ff 272 111 
232? 17 PGEpfT 254 122 
2Mb I79b PGEpfS 262 127 
91ft 79b PGEpfH 1,12 IU 
’ Sf JfJS rogmR 2^ 

l|ft TO? PgEpfP 205 111 
17 1314 PGEpfO 7J» 722 

S2 IK PGErfM fS ,'S 

'8ft 14ft PGEpfL 225 727 
! Jft J** PGElHK 204 I2J 
,7 TS PGEptJ 2J2 ,2J 
»ft 79b PGEpfl 1J9 J2.1 
S E GTm 1.12 57 

S Jfu. £*H pf ^4° IU 

M 31ft PncLI pf 4JD 127 
34 PocLtpf 475 77 J 

« “fi ^'e* 7 " ,1T 

^* « SSfa - s 

9ft _3ft PoroPk IB 


12ft 69b TondBr 
9ft Tasty 
6ft 29b Team 
*ft lft TchAm 
19ft Uft TchSvm 
S9ft nib TechOp 
5* TochTp 
.lift 7ft Teehtrt 
I '?? 76 TelanR 
79b 2 Tvleccn 

»J* 2lft TetflSr 
15? E* TelDto 
T »hKt 

g* Jft Tetesph 
.Si 37% Tenneva 
IS5; 5ft Teraer 
lift 59b TexAtr 
Wft stb Te*AE 
®4 161% TexAE Pf 
’2£ 3ft Txvwi 
* ThorEn 
Mb 394 ThrO A 


74 I : «o« pe + n 

“ » i« . a ,fa 


Jit A1 26 127 Bft R Mk+ Vh 

■“* ■* fi '2* iaVt S + ft 

12 1044 a 79b 8 + ft 

„ ,.f7 26 9V* 914 914— ft 


B^SSr- 

"«!!» <40 U 13 'L m* ,2!- fi 




The Daily 

for 


23ft 159b PorkC s 60a 19 


^ ICO * ■ 3 M'”“ftB 6 fta 6 W+l% 
Sft TVb IPM JBr \A 11 12 3ft S* S? + fi 

Ig* IRTCPn “ 20 16 Sfc bft w^ - “ 

■ nel4 s *s 1 3 B „ 

7M? ^ i'ISSm ” ’■“ .. ^ ^ 34^7 fi 


.«* ft ComdrC 

»ft 7 Compa 123 

Sfi yfi SEP 0 93 

1 25 7ta CmpCn 13 

>iS9ft «* CmpFct 28 

'lft Cndm, J0« 10 11 

S S 000 ? 11 3 

,S? «% Conrty 7 

199b 12 CanrHm 8 

lift Mb Canast 41 

,7ft- 1?* Canqwt 

lift Ota ConsOG 4 

_Yk Vb ConOG wt 
Wb 4ta viCantA 
ni4 59b VlOHApf 
31ft 12ft CantMtt 9 

Mb 94 Caradtan 
3ft Jft CosCrn 
1 ft CosCrwt 
flft 5ft CrtCrt Mr 18 22 
-jft Jft Coyrtta J6* 37 
To* 7ft CrstFa .15* L5 10 
291% 23ft Cross 1J2 46 14 


w a i5 r 5 ft 


123 1384 Sft 79* Oft + ft 
93 2 914 91% 914— V* 

U 431 12 lift 12 +14 

28 42 79b 7ft 794— lb 
II 34 16ft 16ft 16ft 

5 3 9ft 9 9—1% 

7 ® 7ft 71b 79* + ft 

8 25 IB 17ft 17ft— 1% 

41 148 7 6ft 7 

56 3VB 3 3 

4 49 8V* Bft Bft— ft 

60 ft 14 14 +1* 

291 99* Bft 99b + ft 

64 lift 119b lift + 1% 

' 5 ^ “8 *«P 

58 3ft 314 3ft 

80 ft ft ft 

2 BO 7ft 7ft 7ft 

8 19b 19b lft 

0 7 70ft 10ft 1014— ta 

4 59 289b 27ft 28ft + i% 


TO* 6t* inf tent 

^ '?£ \E5? * ,a 

91% 6ft jyhrq M ** 

it* 1? BUST 


5ft 2ft InfBJcnt 
.Mb 1 IMBk wt 
77ft Mb inIHyd 
lift lft up 
7ft 31% IntPwr 
7 1 intDta 

26ft lift Ionics 
35ft 17ft IroqBrd 
SV* 3 Isatyn 


17ft lift jaclyn 
,9ft 51% Jocabs 
16 , 10ft Jensen 
Sft 3ft jeiAm 
2ft ft JetA wt 
81% Sft Jetron 
5ft 2ft JatmPd 


in* 7ft JotinAm JO 10 U 
7ft 41% jmpjkn 6 


jn ,, 15 J2 7 fiJfM9Vb + ft 

A U 33 2J 22*h 23 32ife -+- |h 

2» 2 ft TS * 
■“* %7 33 29h Zft 2ft 

^i u « ,g Sfi Sfi g; 

.12 -7 25 7 13ft 1M* 13ft— 1b 

4TO 31* 3ft 3vk 

„ S 11* It* 7ft 

— 30 30 10ft 9Ve Jflft + ft 

^“5 2 'SS-Sfi-Sfi 

12 261 28ft 2Sft 28 14 +29% 
2J 23 

— J ■ I 

Ab 12 10 3 IMb 1596 15ft + ft 

7 1 lg% Uta 151%“ * 

1 M 3ta «b 3ta+ft 

JVI 67 16 47 B 7ft 7ft— Vb 

2D Ah ilk AlA 

JO 37 U 29 10ft 9ft 5ft- ft 
6 3 6 6 6 + Vb 


’2? ’S! 4 Po1Tch 20 

l? 4 2!? p °VFoo 35 

11 8J% P— ''T" -40b *7 71 

SS Sfi K « 1-Ma 19 10 

3£ta 151% PenTr 120 6.7 9 

2ft ii* PECs TSrlBJ B 

34ft 26 PmRE 2J0 77 9 

'St ,8 6. P“ rl1 30 i * io 

Pommy 

J5* 23 PerlnlC JO 2B 12 

IS? ’£? E5!l nln 
’IS P* EfT 1 " 1 * >-» 9j 

7ft 3 PMLw 
i* t* PelL wt 

ISS S! !■** 22B 

I2J? .5* P>tLePt 278 217 
19ft 1296 PctLcpt 3J3 244 
,2ft 194 PhllLO yh-ffn , 
109* 3» PlcoPd 2 

6 2ft PI nr 1 wt 3 

’1 5 PlonrSy 45 

71% 4?% PlrwVa J6 107 18 

IS? II £!"?« <40 3-1 

TO* 57 Plttwav 1J0 26 11 

1296 6ft Pizzaln J» .9 9 
20^ ’3ft PlerDB 70 
'5,^ 71* PlyGms 13 

Jft 2ft PlyRA 
3ft 2U, PlyRB 
,£* Jft PoooEv 21 

TO* 7ft PorlSys 59 

17VS 12 PostiPr 17 

3lta 17ft PewarT ,16ta j 53 
,5? .S* ProlrOs 
2M6 lBVb PrartL 72 *0 B 

8ft 6Va Pratt Rd jb 2BT19 

9ft 6ftPrmRB JBO 87 6 

_* ,3ft Presid ]« 

TO* ISft PrpCT s n 

2iVb 1BV* PravEn 2J4 BJ 7 

369* 301* PSCalpf IS IL6 


3 

46 

76 107 10 
<40 11 


72 *0 B 
J| 2JT19 
70 87 6 


[J-J '? 13 121* 13ft 

I» 4 '°ft 10t* lffi*— 1% 

19 ^ ISfi .f* ,CR i— * 

1.9 B 10'* J0 l0Vb 

10 24 33ft 339b 33ft— ft 

H S3? SI? “ 

JJ 11B 269* 25ft 26ft 

g sisa f~+fi 
g fsasrsaia 

Lf arSiKiSSiS 

M a i 6 * i6ft .in— 1% 

U 26 169b 169b ,69b 

| ss“is*=a 

rl . 10 9 9 9 — ft 

lb 7 25? 2U? + »h 

■f 2 ^ ^ +7ft 

-2 IBOz 37 37 37 + 14 

7 220z 42 48ft 4014— 96 

LT JO* 6314 6]£ 63ft + 1% 

■' *1 a 77*. 36ft 36ft— ft 
14 at 7ft 79b 7ft 

0 ’S J 8i* n* tv* 

■ 9 8 33 201% SOW 301% + ft 

5 2f iit* H 11 

. Jf 31 4ft 494 4ft — ft 

9 S . 4?fi 4Hb 4^1 fi 

s via 

2 9 55 33ft 33 3]ft 4. u 

» 10 15 13ft 13ft 12ft +2 

1 12 9 281% 2Bft 28Vb + 1% 

. jansSKE 

, m 

10 

« 2 || S-* 8 

’j ,3 >& r 

13 3 

22 2ft 394 2ft + ft 

s TO !fi IS £ + * 

£ s iF* ifft 17ft— fi 

53 90 29 2814 28ft— 96 

. a 6W 6ft 6ft + ft 

'! j 

6 32 9 9 9 

16 55 39. 3ft bl* 

11 134 2DV* 1Mb 2Mb- 14 

7 a™ S? 25,4 TOb + ft 
10DV 36ft 36ft 3694 +11% 


m “ » A* i»% i»_ fi 

n *§ £JSJtZ* 

’3 w ^rnmiMkianb— fi 

J £aS*« 

67 . 67 1096 10ft 109b + ft 

Sifi 

« 3s« n 2ts- 

_ * 18 18 18 + ft 

a “ ?S f* 

-10 2.1 13 8 496 496 496— ft 


Investors. 







.... ; ; . 









COME TO EUROPE. 




COME TO SHERATON. 


Floating Rate Notes Feb. 1 


I Dollar I cmsftii 

I uJ Ctoc fWMyl 514+6 

Issesr/Mta a«/HaL Caapaa Next BM Askd Sbrats+L5W+l 
Ajjjwt hte 51+95 9ft 1H W76 7BD76 CTvoe IWcnhoh m ' f 

AtoMlrtsn5ft42 - lift 174 H84BH05S OnnSMt 

WBsd rtitUftJ 9ft +7 1102018030 Chemtcnf Bk 596-94 

AMed Jrtoh+wg _ ■ HH6 20-5 WJS 9L7S 

AntaBksCarp 516-96 Bft 183 9978 1807 

AttonftcnelBt.-ft 18ft 28-2 nOLlBlOOTS j OvWtoaia<M > 
|GD9xnm.1Utolki5ft+6 9ft 66 IOBBBIOBlU . Ottmrp tWbtvl Ati9 
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^ »«l S m ite Spb Hulft -91 991 29-5 9957 9«77 
roono> Pinto «65 Uft 284 9975 M0J5 


m. 


Uft 284 99 JS U0J5 
91% 186 9860 9835 
9ft 282 mUBTHUS 
9 257 99.75 MR33 

98. 204 1D0J3T0B33 
Sft 294 I861271BBJ7 
HRb 306 MUE1HU5 
Bft 154 WTSIBBTS 


Col Sft-91 _ Uft +5 10IUBHM 

Ctoc (WVty 1 51+96 Sft 7-2 9U5 9850 

abc5ft-M . *ib 18-7 louraas 

Cmtarat5+L5ft6l __ »ft »5 1B0JSUB35 
QitaMtoDMli 5W92 Bft 31-7 18BJ01BM 
□w»Sftf»_ im 9ft 54 9971 9978 

Chemical Bk 516-96 ■ Bft 774 UUTimC 
□wmlcol (WktvISft-fi Bft 11-2*868 9878 
ChrWtanklBk 516-91 9ft 11-2 1681810033 

Christiana -Of IBk U 1067510835 

ancorprwbty) AflBSft^i Bft 11-3 989 9848 

CHtasrpSept Jft-W 9ft 190 9960 9950 

ClHOdM-M Bft 384 9*77 9977 

Citicorp 6-94, , fft IN 

Offcorp-UniWed- 8ft 156 

Citicorp -99 _ Bft 306 9*75 9975 

Gxnnwnbxft5Vr89 . 9H 2W 9972 10882 

Commertbanknovw Uft 285 M091083I 


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Hvdm Quebec 51444 ^ ; 

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8k Of Moya Sobia 514-96 9ft 11-7' B033T80J5 

Bk Of Tokyo 5IS-V3 11 264 10H5B1 

MO< Tokyo 51469 Ok 296 100381 

MW Tokyo ^7 Bft 29-7 1 082810831 


CKnm UraMoatreal 514+1 12ft 183 9973 mUB 
CdSVrUm 12 281 TBOJS10I65 

Ccf 514-90/95 1260 96 1087210171 

Ccf5U-toBM lift 2M 1D076WU4 

CMme 51*47/92 10ft T26 TMJSIOLM 

Cbsm* 51460 ____ 94b 83 UD72WL12 

Cr*dHDuNord5V4«9/92 *V> 286 1807010838 
Credit FOnctor 51480/93 » 84 108X10045 

Cradlt Per Export 5ft-92 9ft 1-7 WU5U815 
mmiiuia in. iu imaimn 


11 266 1085B1 ~ 

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— 8ft 297 1082810838 

BfcOfTofcwUlMobMWI 12ft 6-2 M0 771CU7 

Bk Of Tokyo 5ft-<J ‘ f fft TM m«ajO^ 

BBAmortaBSft-9* Bft 283 9975 10885 

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gAratotorars*™ B « UM 

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Ba IndBOMB 51/2 bq-M/U 157 TBUOMd 
Ba lnfhMt5Wh*9 Bft 2U M8JS1 

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credit Lyon S+WW 
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credit Lyon crew 

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stare 

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Drosdnor Bonk 514-9: itw 21.4 Ruanou 

isfssa" 0 ^^ IS: IK 


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12ft 2VJ 1882510178 
12 94 10BB11I072 
Mb 9-7 1806118871 
fft 2M 108911 
91b 276 U072T 
9 187 108181 

fft 146 1 
9 187 1 

12ft 11-3 1 
8 11-7 MB.T7T0027 

fft. 183 18878)0170 

12ft 2H M0.WWUS 
Uft fcH 108*10051 
9. 7-2 UBSnaui 

fft IM 9975 1 

fft 1W fM51 

fft 87 uusiaus 
ins 156 tausioare 
12ft 182 U878UUD 
m 82 uomou 

Bft 287 ffre 9975 
lift IM Bl 701 DUO 
Mb 253 9978 9958 
IK 27-J MDL2SI08L9 


IndgateHtare 

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to^topraw Stare 

Italy 49/M 

XP. Morgan 516-87 

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PlmtxhPtorr-95 


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Full- -94/96 Bft 157 99.9» 1007* 


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66kHand*-rt if W 

MJtosndS-99 ii* £ 

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11% U6 
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12% 282 
lift 96 


Knowing where you're going 
fe knowing where to stay. And 
in these great European cities. 

that rneans Sheraton. For 
location, service and the extra 
touches like 24-hour room 
service, speedy checkout 
and guaranteed reservations. 

So when you know where 
you're going in Europe, come 
to Sheraton to stay. 




BalndosuR Stan 
□tlCH»S.I/4clMS 
Cswnt 514-N 
Credit Fone/Brsvi-fy 


Non Dollar 


Mft 182 9958 100.15 

lift »3 99* 97J0 

5? SI 2^ 2P 
S ffi S3 33 

W* 21-3 9975 IoSSd 


Credit Functor 5ta99 IB*. P6 SoS 1 

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LWVd5566 fie 2*2 MM 6 o« 

SnH5i-68re . m, S3 iSoairefic 

Tnrbihlr«5’«6i. , 9i ijjiJ pj 

Lor£% re * ' Cred " **»«« Boston L „, 


BRUSSELS, BRUSSELS SHERATON HOTEL 
COPENHAGEN, SHERATON COPENHAGEN HOTEL 
USBON, US BOA SHERATON HOTEL 
LONDON. SHERATON PARK TOWER HOTEL 
MUNCH, SHERATON MUNICH HOTEL 
ROME. ROMA SHERATON HOTEL 
STOCKHOLM, SHERATON STOCKHOLM HOTEL 

. <9 19S4 The Sheraton Cwp. 



SI K'raion 


Hotels, Inns & Resorts Worldwide 

The hospitality people of DIE 

Far r«»n«iiorK end ififonriotton. col vexx 
neor^ Stawoton Hotel. Resetvafksra 
Office, or your Trove) Agent. 



TRIBUNE, TUESDAY, FEBRUARY 5, 1985 


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HectioA .16 J 340% 23% 22W— % 

HKtieB .10 A T05 jMW 24 24% 

HelenT 113 7% Tfa 7%- fa 

Hell. 1133ta 32fa 33 — % 

HenrdF J4aU 12 38% u 39%+% 

Hern Bn 1X0 JX 72 44% 44* 44% + % 

Hertev 16 5% 5V1 SV, 

HiberC s 1X0 43 71 llfa 23 23 + % 

HICMITI 8 12% 12% 12% — % 

Hogan 99 6% 6 % 6fa — % 

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HmBns 14 2.9 7 999; 29 29 — fa 

HmFAz 71 15% 15% 15% — v» 

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HmoSL 6512% 19% 19% 

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Pohl Sees Rates 
Remaining Same 

Reuters 

BONN — Karl Ouo Pohl, presi- 
dent of the Bundesbank, has been 
quoted as saying he sees no reason 
for further rises in West German 
interest rates after a !4-pereent in- 
crease in the Lombard rate las 
week. 3 . 

Mr. Pohl told Der Spiegel maga- 
zine, however, that even after the 
Lombard was raised to 6 percent, 
in a move to lighten the central 
bank's control of monetary policy 
and hefp defend the Deutsche mark 
against the U S. dollar. West Ger- 
many’s interest rates were lower 
than those of any major country 
except Switzerland and Japan. 

He said the Lombard, the rate at 
which bankers borrow from the 
Bundesbank against certain securi- 
ties as collateral, was raised chiefly 
to ensure that it was used to pro- 
vide short-time residual financing. 
He added that, if the rise made 
West German investments more at- 
tractive to foreigners, he would not 
objecL 


— ADVERTISEMENT 

INTERNATIONAL FUNDS 

Quotations Supplied by Funds Listed 
4 February 1985 


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What makes Morgan 
the most innovative bank 
in both the Eurobond 
and syndicated loan markets 


* . When the leading participants in the world’s 
capital markets were asked by Euromaney 
magazine which bank is the most innovative 
in the international bond and syndicated loan 
markets— “the best house for introducing suc- 
cessful new techniques”— Morgan ranked first 
in both areas. 

“Morgan is a corporate finance-driven mer- 
chant bank, (which) may explain some of its 
inventiveness,” Euromoney wrote in its com- 
„ ■ mentary on the poll results. “It tends to see the 
securities business from a company’s point of 
view; its corporate finance officers estimate 
how the bank’s forex, swap and Eurobond 
capabilities can minimize costs and meet the 
particular needs of the client company.” 

Morgan has earned this recognition by put- 
ting our uniquely comprehensive set of capa- 
bilities to work for the long-term interests of 
our clients. 

□ As a major participant in the capital, 
credit, and local currency markets, as well as 

'* in worldwide foreign exchange, government 
bond, and bullion markets, we have excep- 
tional opportunities for exploiting intermarket 
arbitrage for the benefit of our clients in inno- 
vative ways. 

□ Morgan is the leading counterparty that 
can act with equal proficiency as either princi- 
pal or agent in rate and currency swap trans- 

v actions. Our especially strong capital position, 
' reflected in our AAA/Aaa credit ratings, 



The Euromoney Poll 
“Which bank is the most innovative in 
terms of new instruments andpridng? 

»* 

Eurobonds 

Rank 

Mates 

1 

Morgan Guaranty 

96 

2 

Credit Suisse First Boston 

71 

3 

Salomon Brothers 

62 

4 

Merrill Lynch. 

47 

5 

Morgan Stanley 

24 

6 

Orion Royal 

Swiss Bank Corporation 

8 

8 

8 

Manufacturers Hanover 

6 

9 

Citibank 

Morgan Grenfell 

Samuel Montagu 

Smith Barney, Harris Upham 

5 

5 

5 

5 

Syndicated Loans 

1 

Morgan Guaranty 

48 

2 

Citibank 

45 

3 

Chase Manhattan 

27 

4 

Samuel Montagu 

15 

5 

Credit Suisse First Boston 

11 

6 

Bankers Trust 

9 

7 

Merrill Lynch 

6 

8 

Bank of America 
Manufacturers Hanover 

5 

5 

10 

Chemical Bank 
Lloyds Bank International 

4 

_4 


'Asked of managers in the international bond and syndicated loan markets. 
Source: Euromoney, October 1984. , . . 


enhances our role as principal and can reduce 
client costs and risks in each swap we arrange. 
□ Because Morgan concentrates on die in- 


ternational capital markets, we can devote all 
our worldwide resources to providing superior 
service in these markets to our clients. 

A recent example of Morgan innovation: 

For a $500 million Kingdom of Sweden 
floating-rate note issue, our Eurobond under- 
writing subsidiary, Morgan Guaranty Ltd, pro- 
posed the first U.S. Treasury-style auction in 
the international capital markets, then com- 
mitted to place a competitive bid for the entire 
issue. The package gave Sweden the lowest 
cost related to the London Inter-Bank Deposit 
Bid Rate ever achieved in the Eurodollar float- 
ing-rate note market. And its success led to a 
second Swedish auction issue, for $700 million. 

Other recent examples: profitable Deut- 
schemark defeasance transactions for three 
major U.S. issuers, and zero-coupon Eurobond 
issues which we swapped into floating-rate 
funding for Electricite de France, Nordic 
Investment Bank, and Swedish Export Credit. 

Measure our performance. Let us compete 
for your mandate. You’ll find we deliver imagi- 
native) cost-effective services in the capital 
markets with the same high quality and skill 
that have long been hallmarks of all Morgan 
banking business. 


Morgan Guaranty Ltd, 30 Throgmorton Street, 
London EC2N2DT 

Morgan Guaranty Trust Company, 23 Wall 
Street, New York, NY 10015 



Page 14 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, FEBRUARY 5, 1985 




BOOKS 


- 


X Wall Street 
term 

6 Worker’s 
recompense 

ID Ball of yam 

14 The real 
"Funny Girl" 

15 " Old 

Cowhand" 

16 Well- 
venrliated 

17 Eliminated the 
squeaks 

IS Between-meaJ 
snack 

19 Ditto 

20 Comedian 
Brooks 

21 Nifty, to a 
flapper 

24 Rich fabric 

26 Kind of nose 

27 Dishwasher's 
partner 

28 Having talons 

32 Dillon In 

"Gunsmoke" 

34 "No, !” 

37 Info at J.F.K. 

38 Gives the 
green light 

40 Actress 
Caldwell 

41 Daft 

43 Zilch 

44 Smart and BS 

47 Wharton 
School degs. 

48 Turkish river 

50 Of queenly 

bearing 


52 Begin urban 
renewal 

54 "What's 
?": Juliet 

57 Union bosses 1 
bunks? 

61 For: Lat. 

62 Bail 

63 Take a tour: 
.Abbr. 

64 Fodder vessel, 
in Glasgow 

66 Exploitative 
person 

67 Prefix with 
phone or gram 

68Coeurd* , 

Idaho 

69 Tot’s counting 
word 

76 German river 

71 Steel-mill 
employee 

DOWN 

1 Enola Gay’s 
cargo item 

2 Judge 

3 Day-Hudson 
comedy: 1959 

4 Top pitcher 

5 Terminal 
figure 

6 Add chains, 
snow tires, etc. 

7 Bible book 

8 Struggles to 


9 What makeup 
may do 

19 Melon variety 
11 Author 
O'Flaherty 


12 Humorist 
Bom beck 

13 Followers of ■ 
exes 

22 Picnic quaffs 

23 Mint 

25 Kind of slicker 
29 He puts a 
damper an 
things 

3D Ken of comics 

31 When Dracula 
sleeps 

32 A Lisa 

33 Similar 

35 Quarterback 
JaworsH 

36 Golden 

39 Emcee Purcell 
on TV 

42 Muscat is Its 
capital 

45 Name fora 
newspaper 

46 Transmit 
49 Cross-city 

roadway 
51 Hot-air artist 
53 Committed a 
fauxpBs 
55Gosnold 
touched It in 
1602 

56 Mideast V.I.P. 
.57 Place to see 
Santa? 

.58 Alleviate 
59 Yemeni 
seaport 
66 Hay bundle 

65 bonne 

heuref (right!) 


BEETLE BAILEY 


New York Times, edited by Eugene Maleska. 

DENNIS THE MENACE 



GOT MORE CRUST THAN A PIZZA ttRLOR* 1 


I THAT SCRAMBLED WORD GAME 

by Henri Amok) and Bob Lee 

Unscramble these tour JumMea. 
one letter to each square, to loim 
tour ordinary words. 


KIHCX 


nod 



FYFAT 



UL 


TICCAR 


JU 

JJ 



LARBUT 


■ □ V 



| WHAT PERMATOLOer 

15 THE SCIENCE OF. 

%, -- - 

Now arrange the dieted letters to 
farm the surprise answer, as sug- 
gested by the above cartoon. 


TXXX] rXXXXT 

{Answers tomorrow) 

Jumbles: BATHE ENACT KOSHER ARCADE 


Yesterdays 


Answer: What a tastelul necktie should be — 
SEEN BUT NOT "HEARD" 


WEATHER 


EUROPE 

HIGH 

LOW 


ASIA 

HIGH 

LOW 



C 

F 

C 

F 








Alaarve 

18 

66 

12 

54 

el 

BfflluKnfc 

32 

90 

23 

73 

d 

AimMiUuni 

8 

46 

3 

38 

el 

Beil tap 

5 

41 

-2 

28 

O 

Atben* 

8 

46 

6 

44 

0 

Hono Kong 

20 

68 

16 

61 

0 


16 

61 

4 

39 

fr 

Manila 

29 

84 

24 

75 

Q 

HBlBTOdP 

-I 

28 

-4 

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t'.'rj: Delhi 

24 

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70 

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63 

fr 

CopeaBuscn 

■2 

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Tokyo 

10 

» 

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43 

d 

Costa Del Sal 
Dublin 

16 

8 

61 

46 

4 

7 

39 

45 

0 

0 

AFRICA 






Edtaboren 

9 

48 

4 

39 

0 







Frankfurt 

4 

39 

-3 

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It 

d 

Cairo 

22 

22 

72 

73 

10 

15 

SB 

99 

fr 

lr 

Helsinki 

Istanbul 

-to 

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41 

-16 

1 

3 

34 

fr . 
a 

Casablanca 

Harare 

20 

20 

68 

68 

14 

16 

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d 

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Ln Pal max 

20 

68 

14 

6/ 

0 






Loadon 

12 

54 

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46 

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0 

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15 

59 

9 

4B 

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Mimic* 


Oslo 

Ports 


14 
■4 
TO SO 


* -i a 

41 -2 28 

30 -2 2B 
39 -» 19 
St 7 45 
21 -13 


d LATIN AMERICA 


RvrWovlk 

Rome 

Stockholm 

Sfnabwre 

Venice 

Vkm 


- - 3 30 
-1 30 -7 19 
1 34 -4 21 
14 57 3 28 

-12 10 -14 7 

5 4i -2 a 


Boric* 


MUDDLE east 

Infcm n -3 24 

Mraf 

Damascus 
tertrttttfli 
ret Aviv 

3CEANIA 
lackland 
intney 


IS 59 
14 57 
17 83 


S 32 
-3 28 
-9 18 
-1 30 


-5 8 

5 41 
S 41 
9 48 


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flames Aires 31 SB 18 84 

Lima 27 81 W 46 

Mexico City 28 79 8 48 

Rio de Janeiro 31 88 21 70 


Saa Paula 
NORTH AMERICA 


— — — — no 


A agmn — e 

Atlanta 

Boston 

CMeaw 

Oaavar 

Detroit 

Hanolalu 

Houston 

Los Anastas 

Miami 

Minneapolis 

Montreal 

IMnsaa 

Mew York 

Saa Francisco 

Seattle 

Taranto 

w uu m w tsn 


28 -6 
48 -2 
30 -9 
19 -21 
9 -20 
19 -18 
75 17 
43 3 

59 8 

81 29 
7 -25 

12 -18 

82 17 
32 -6 
St S 
38 -5 
14 -18 
38 -8 
cloudy: 


pc 

PC 

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PC 

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22 72 13 55 d 
28 BS 21 70 Hr 

d^Joudy: to-taooy: Ir-tair: h-tnfl; o-overcasr; PC-oartty 
sfrsiwwers: swsnaw st-stqr wiy. 

JESOAYSFORECAST— CHANNEL; Smooth. FRANKFURT: Foppv.Twnp. 
-S va— 281. LONDON: Partly cloudY. Tejmj.8— 1 146— su. MADRID: 
-Iff Tenor. 15 — S (99 — ill. NEW YORK: Fair. Temp. 1 — 4 (34 — 251. 
E^FairTwiS. 9 — 3 (48— 381. ROME.- Fair. Temp. 1 7 — 5 (83 — 41 1. TEL 
ckSItiv Tenra. 17— « (83 — 481. ZURICH: Fair. Temp. 8— 0 143—32). 
Ten®. 33— JB V 0 ""- 7 ^ 

— 14 146— ST). MANILA: Cioudv . Tert P. 32 —23 190— 73). SEOUL: Rofnv. 
i nip. 3- .3 (38 — 241. SINGAPORE: Showers. Temo. 36- 2S (88 - 77). 
)KYO: Rainy. Temp. 11-3 (52 - 38). 



HOPE AND SUFFERING: 

Sermons and Speeches 

By Desmond Mpilo Tutu. Compiled by 
Mothobi Mulloaise and edited 
by John Webster 189 pp. $10.95. 
Eerdmans, 255 Jefferson A venue. 

Grand Rapids. Michigan 49505. 

Reviewed by Colman McCarthy 

W HO have we been applauding Ln Des- 
mond Tutu these past months? E\cepl 
among close watchers of the South African 
scene, not much was known about the career 
and convictions of the former bishop of Leso- 
tho and currrent general secretary of the South 
African Council of Churches. A few years ago. 
the congressional Black Caucus asked Tutu in 
for a lecture. The turnout was slight For many, 
he was only another passing-through pleader 
asking Americans lo pay attention. 

Now that Tutu has won the Nobel Peace 
Prize, it is different. But he is dol “Hope and 
Suffering.'' a collection or sermons, lectures 
and letters from the past decade, shows the 
stairs on which he was steadily climbing to 
world acclaim. Whether or not he had won a 
Nobel prize. Tutu, by the evidence in this small 
but stunning volume, would still have been a 
force that no regime could stop or silence. Still, 
he trips and nearly falls a few times on those 
stairs. 

On the two recent occasions I heard Tutu 
preach — at the Washington Cathedral, with 
informal exchanges afterward — I had the 
impression that ms new role as South African 
prophet is one he would personally prefer to be 
without. He seemed to be more the parish 
priest than the public activist. Prayer, liturgy, 
theology and the sacraments are where bis 
bean is. Racial justice and the politics of free- 
dom are genuine commitments but not the 
essential vocation. 

My hunch was confirmed. Tutu writes that 
“for me the most important — the most cardi- 
nal — fact about our life is the spiritual: that 
encounter with God in prayer, in worship, in 
meditation." Of his opposition to the South 
African government — which indudes opposi- 
tion to the Reagan administration — Tutu 
writes that “I do not do it because I like doing 
iL [ do it because i am under what I believe to 
be the influence of God's hand. I cannot help 
it: when 1 see injustice 1 cannot keep quiet I 
will not keep quiet for. as Jeremiah says, when 
I try to keep quiet, God's word bums ike a fire 


. , D.,t whai is it tiiat they can 

SStessags 

S fc,333K£ be brand to 

S^dSSvten." ^ writes. TV, toe sera 

that when ii comes to the 

freedom then we Blacks are really expendable 

SESSof the mighgr U. 1 * * « -erf 
blood being thicker than water. You can t 
rally trust ^ Whites. When, it comes to the 
crunch, whatever the morahw involved. 
Whites will stick by their fellow Whiles. That 
isn’t fiery rhetoric. its flarmnarory fa^Y 
What for example, of the numberless white 
missionaries in Africa in the past decade who 
stayed with the blacks they were serving only 
to be martyred by marauding black soldiers? 

Id an essay on the population removals Of 
South Africa, Tutu forcefully describes the 
suffering endured bv blacks. * People ar e star v- 
ing in most of these resettlement camps, i 
know, for I have seen iL They are starving not 
because of an accident or a misfortune, bto, 
they are starving because of a deliberate i Gov- 
ernment policy made in the name of White 
Christian civiuzation.” What’s needed right 
there is a balancing sentence or two, a few 
words on the starvation caused by die inepti- 
tude an d violence-based policies of some of 
Africa's black governments. 

There is probably little hope for it now. but 
Desmond Tutu ought to take the time —per- 
haps an hour a day in his study — and write a 
book that goes into his own deepnesses. What’s 
offered here is useful, but it is too much a . 
mixture of strengths and weaknesses. It is not ■ 
held together by a prose style of any kind. Only 
now and again, does a line leap from ibe page, 
and the leaps aren't that high. 

Perhaps it is too much to ask that men of 
God and peace be also men of literature. I 
recall an answer Tutu gave to a reporter’s 
poi gnan t question at the Washington Cathe- 
dral. How do you manage to be so cheerful a 
person amid such suffering in South Africa? 
He explained that the tears of joy and the tears 
of pain come from the same place — the 
human faearL 

That, too, might be an answer for Tutu to 
think about when he wonders whether it is time 
to write a truly memorable from-the-heart 
book, not merely, as this is, a topical one from 
die head 


erf Ay, a n 
wrote this review, which ap t 
ington Post. " 


on cohannist, 
in The Wash - 


CHESS 


t 


By Robert Byrne 

G ary Kasparov sub- 
jected the 33-year-old 
world chess champion. Anatoly 
Karpov, to Ruy Lopez torture 
last week in the 46 ih game of 
their title match in Moscow, 
but the 21-year-old challenger 
failed to deliver the coup de 
grace and the game was drawn. 

Karpov leads the series 5-1 
and needs one more victory to 
retain the title he has held since 
1975. 

Draws do not count in the 
scoring, but this one, the 40th. 
lengthened a record for draws 
in a championship match. Ear- 
lier in this contest these two 
Soviets players set a record for 
consecutive draws. 17. Also, ev- 
ery time they play another 
game, they extend a record for 
the longest title match in the 
modem era. 

For the 46th game. Karpov, 
again chose to defend a Ruy 
Lopez, as be had done the last 
time that he had Black. Then he 
had labored to resist the fam- 
ous pressure White Obtains in 
this opening, and this time he 
was kept under the same du- 
ress. 

The champion even had the 
effrontery to use the same 


Flohr-Zaitsev Defense (9 . . . B- 
N2) as before. The play fol- 
lowed the 44th game with 10 P- 
QR4, R-K.1, but instead of 11 
P-QR4, Kasparov varied by 
stressing direct development 
with I1QN-Q2. 

Had the challenger tried jug- 
geniaught tactics with 11 N- 
N5, R-KB1; 12 P-KB4!, he 
could have been rocked back 
on his hods by 12...PxBP; 13 
BxP, N-QR4; 14B-B2. N-Q4I; 
l5PxN <15 Q-R5, P-R3 does 
not help matters), BxN; 16 Q- 
R5, P-R3, winch leaves the 
white pawn at Q5 weak. This 
positional trap appeared in 
game between Ljubomir fju- 
bqjevic and Svetazar Gtigoric 
in Belgrade in 1979. 

After 23... N-B2, Black was 
contesting control of his Q4 
square with enough force to 
keep White from using it as a 
knight outpost 
On 26 R-Ql, it would have 
been wrong to play 26. . . QxP? 
and allow 27 N-B5, Q-Ql 
( . . . Q-R4?; 28N/44xPch); 28 
NxKP, with considerable ad- 
vantage for White. 

Kasparov’s 32 Q-R3, threat- 
ening 33NxPch, contained a lit- 
tle trap: 32 . . . Q-Ql : 33 Q-N4 
wins a pawn after 33 . . . K-Rl; 
34N/4xQP! 



After 41... R-B2. there still 
seemed to be tension an scope 
for action, but the players 
chose to terminate the play in 
another draw. 


■OV LORI 



Canadian Stock Markets Feb. 1 

Prices in Conodlon cents unless marked S 


Toronto 


200 AMI Prce 
33SB Aonlco E 
3245 All Energy 
4000 Alta Nai 
5304 AtPOntoSt 
4980 Arocrn 
190 Asbestos 
JOOAfcolf 
6010 BP Canada 
48818 Bank BC 
46072 Bank NS 
76052 BarrlckO 
2208 Baton Af 
734224 Bonanza R 
1400 BrnkrrfW 
161905 Brama lea 
I2» BrendoM 
22670 BCFP 
88620 BC Res 
16010 BC Phono 
22000 Bran Swk 
152SBuddCon 
46800 CAE 
400 CCU A 
18853 CDttbBI 
11250 Cad Frv 
14400 C Nor West 
3650 C Putin 
19»0 Con Trust 
7500 C Tuna 

500 CGE 
350080 Bk Com 
WOOOCdn Nat Res 
38516 CTIre A I 

mo C UtH B 

501 Cara 
14S6Cekmes> 

40 Colon I75» 
45400 CDtotbA 
1BBS5 COIsftj B I 
4862 CTL Bank 
7100 Caseka R 
405? P* 0 *™ 1 
8800 Czar Rea 
313884 Dorn Dev 
1500 Doan A 
ISIS Denison a 
147763 DMhgn B f 
13050 Devetcon 
3833 Oldman A I 
9X3 Oldman B 
2156 [Ionian A 
MSDateSCoA 

5706 Dli Port A 

5603 Pyles A 
1800 Elcthom x 
SOBEmco 
527S E sully 5vr 
27240 FCA Inti 
_30B C Falcon C 
ESJ7 Flcnbrtg* 
200 Fed IndA 
8800 FCttv Fin 
BOO Fraser 
JTOFrveitoui 
2306 Gendts A 
18162 GdOC Comp 
7B50Geocnrta 
10748 Gibraltar 
72S0Go(dC0rpf 
500 Goodyear 

4000 Grandma 
1030 GL Forest 
too? Grey tind 
6100 H Croup A 

4747 Haves D 
1888 H BOV CO 
34004 Imoaco 
1700 r tidal 

400 1 non j 
1370 inland Gas 

18441 intor Ploe 
AOOIvqcpB 
4800 Jannock 
2QW Korn Kollo 
300 Kelsey H 
3600 Karr Add 


HW Low Close Che* 

33V: 33Vj— 
513V. 13'* UV.+ 
S20% 3B* 2£H*j 
5159* IS 1SV%~ 
523V5 73 23'w— 

S17Va T71h 17*^ 

VT4 SUi 5*4 

S27*» 7T7i 77’V— V* 
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134 123 133 +3 

SIMfc Uto \Mk+ Vk 
*30 400 415 +5 

S5t% 518 518— L, 

Sit 179k 18 + 3h 
SUM 11 II - « 
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S18U 17H 17*8— 
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»i« iSVa isvk 
862 82 42 

53T«. 31Y, 319. 

31 Vi 29 30 —2 

STDMr 10k. J0*k_ 
*17 17 17 - 

smk i»k n*k 
*71fc 74k 7H 
5171? 1 71k 171k— 
56 *m Mk **k— '4i 
569. 61k 61k 

Tl«. Illfa- 

2S3 350 250 

SI 75k 17% 174k 
155 148 153 -2 

MS 7J7 310 +13 

298 290 298 —2 

513V] 12)k 1218— Jk 
513 12 T2«+ Ik 

510 9l)i 10 — 4» 
*75 465 *75 +15 

485 475 <75 -10 
"La, -io 

S3SVj 38 28 — 

S17U 1 71k 17’k— 
533% 33Vk 331k— 
*30 425 43D — S 

*1741, ink I7kk— 

5 8* 84k 646 

S3 Vc. 20 20 — 

sietk 18V, is*- jk 
S9S 93i. 94% 

571 Vk 21V) 71 Ik- 
512 irk 11% 

SISiu » 18 

519 1* 19 +» 

536'- » 28-14 

sn»k n n — to 

234 210 224 +8 

510*. 10U. lCPk — Ik 
S5VJ 5fa 54k— lk 
*39% am 39 %+ 

47 43 43 —4 

592 89 02 +]Va 

SK H 25 
. 574k 71u 74k + 

145 MS 145 

520V; 2014 20'>- to 
S2Tk 231* r U— Ik 
1191k 1914 1 U, 

S5lto Sft 591k- 
S14 131k .4+1% 

512V, I2K 12 to 
S15to ISto 15to+ Ik 

*1314 17to 124k + 

IQS 103 10$ 

S371Y 37V] 3715 
5l7Vr 17k, 17VJ+ ft 


53308 Labotl 
9022 Lac Marts 
450 LOnl Cent 
4W0 Lfiam 
1OO0LLLOC 
3S50 LoWawCo 
500MICC 
97985 MdaiHX 
I79S0 Merlond E 
9281 Matson A I 
AMMabonB 
5800 Murphy 
7*00 Mabrtco U 
566*5 Narando 
1591 Korean 
6Z762 Nun Alt A > 

21300 NowscoW 
49S2DNuWSlsaA 
51387 Oakwood 
21210sha*»aAf 
16600 Pomour 
16440 PanCanP 
3700 PnhWh 
rOOPhont* Oil 
1*30 Pine Point 
500 Place GOo 
1 693J Placer 
2315 Prav WO 
3400 QueStorab 
1400 Ram Pet 
26000 Rav rack 1 
27640 Redpoth 
195606 RdSMrttoA 

■xo Resservl 
3373 Revn PtpA 
)9<0 Rogers A 
29)93 Roman 
174 Rothman 
800 Seed re 
700 Scott* I 
T38I0 Sears Can 
*5450 SMI Can 
5700* Sftorrin 
I700 Stoma 
1500 stater B I 
12035 Seutrun 
2058 S» Srodcst 
34159 Stelco A 
2400 SulMro 
2590 Steep R 
72*2 Svdnevo 
700 Tara 
1882 Teck Car A 
41143 Tec* Bf 
294 Tel* dy n e 
1350 Tn Can 
20000 Then, N A 
646B Tor Dm Bk 
2821 Tarstor Bf 
29790 Traders At 
TMTrmMI 
76300 Trinity ~ 

DU1 TmAltL - 
4799# TrCan PL 
S238TrtntoC 
lODTrtieeAf 
64550 Turaaf 
2000 UtoceTBAI 
7230 Un Cartfld 
>97477 U Entpritt 
ODOUKaao 
TCOUStscpe 
win Verstl A f 
500 Ve siaio n 
5280 Weldwod 
lOOOWesHorta 
1 0*850 Weslmtn 
mwestnhae 
i SOD weston 
4406 Wooded A 

looo y* Boor 
Total Salas: 14.1S2AS2 dim 


Jiw 
dtyRe* 
Alta UA 


Htoh Low Close OTO* 

5254k 34(k 24to- 
5271k 27Vs 2744+ Ik 
Sioto tOto I0to 
siovi into loto + 
$30 29V. 30 + 41 

now i9v, i«to 
240 240 340 +10 
J»V. 244k 2444— 14 
*50 445 *S0 — 40 
510 I7to 17to— 
51B 11 10 

PP4m 20to 2 0to 
I2Sto 2544 254. 

S21V4 209k 21 + tk 
SISto 15 15 —to 

S7to 71fc 74k + to 
*19to 19V, 191% 

99 55 57 —2 

SS 475 5 +10 

5254k 25 25 

460 435 435 • 

$27 284k 37 

SMto 1744 ISto + to 
574k 74k 74k — to 

52716 27 77 

100 100 100 +4 

528 25V] 28 + U, 

*1014 1744 1744— Ito 
370 350 3S0—W 

$5% 54k 544+ to 

74k irta + 4k 
532to 32to 324,+ 1% 
$71 204k 21 + 

TO TO TO 
1« 170 130 —1 

$844 84% 84k 

nm i(Rk iito— to 

*42 42 42 — to 

S« 54k 54k + 

*19to 19 19 — to 

« 7to Tto— to 
527to 224k 22V?— to 
Wto Sto 8to 
$9 V 9 — to 
siDto in* ISto— 4* 

*58to 57to 57to— Ito 
S12th 12to I2to 
$234* 23 'A 23’+— 
555 258 355 +S 
260 245 345 -IS 

27 28 28 —3 

UJto 19to I9to— to 
MJJk ITO 114k- to 
*1248 IZto 1214 
*11* 11* llVk— 
*3498 J4to 34to— to 
55318 S3 53 - to 
$19 184k 104 

5181k lav, ian 

$224* 2218 22to 
57V8 74k 74k— 1% 

S5H 5 5 —Ik 

S3* T Vh 23to— to 
CTk Hto 271k+ Ik 
43S 430 430 —io 

*364* *14 Ml " 
a 40 41 —3 

WVj Sto 8V) 

5!2? wit + 4* 

*12* 124k 1248+ Ik 
*9* 9 9 — 

115 US 115 +3 

*7» 7Vk 74k— Vk 
SlUfc UK, 1148 + 
*1648 16Vs 141% 

15 15 IS 

3121* 12 12 — to 

*5* 54 54 

*804* 79V, BMi+lto 
*1148 114k 11* 

01048 1048 104. 


Amsterdam 


ABN 

ACF HefcOna 

Aeaon 

AKZO 

Anew 

AMEV 

ADom RuO 

AmrobcBik 

BVG 

Buehrmonn T 
COand Htdo 
Eleevier-NDU 
Fakker 

GUI 

Haaiokee 


MORE NEWS IN LESS TIME 

THE WORLD IN 16 PAGES 

DAILY IN THE IHT 


KLM 
Noorden 
Not Madder 
Nedllovd 
Oce Vander G 
Pofchoed 
Phlltoi 
Rodeco 
Rodamco 
Rtrtlnco 
Raronlo 
RovaJ Dutch 
Unilever 
VanOmmeren 
VMF Stark 
VNU 

ANPXBS Ctomral 
Pravloes :W7J» 
Source: AFP. 


388 197SD 
193 19* 

1*6 160 
IC3J0 104.10 
21100 21i*0 
21950 222J0 
8 8.10 
7120 7&30 

>5250 15160 
87 8750 

3120 3160 

1T3JD 115 
WL50 9150 
17630 177 JO 
15Z80 15550 
6030 6130 

47.60 47.90 
4750 4U0 

277 28450 
15950 161 

297 79850 
68 *850 
5* 59J0 

7130 7180 

135.90 13630 
66.70 6750 

4180 4190 
189 JD 189 JO 
33450 33550 
3*50 2850 
142 1*150 
216 71650 

Index HHJH 


Brussels 


Artied 

Bekoer, 

Cockerlii 

E8E5 

GBL 

GB-Inno-BM 
Gevaerf 
Hoboken 
KreOetbonk 
Pelrotfno 
Sec General* 
lino 


Selim 

Sataav 


Tract lea Else 
VMlle Manlaene 


1570 1570 
4770 4*00 
258 258 

2300 2806 
2815 1985 
2015 1985 
17S0 7605 
5940 5850 
7740 7730 
7250 6620 
1790 1790 
7340 TUB 
3900 3860 
3890 WB 
5490 5440 


ss asaa*"""* 

Source: AFP. 


Frankfurt 1 


AEG-Teiefunfcai H13B 114 
lien* v«r» 

17680 1M 



Claw 

Prev. 

Bayer-Hypo. 


Bcyor.ver.Bonk 

326 


BMW 



Commenbank 

16280 

169 



Dalmier-aenc 

616 

635 

Deoirsso 



Deutsche Babcock 163 

164 

Deutsche Bank 

392J0 


Dresdner Bank 



DUB-Schuthe 

208 

207 

GHH 

163 

167 

Hochtief 



Hoecftsf 

>8X9 18680 | 

Hoosch 


HolliVMii 

380 

381 1 

Horten 



K01I+ Soli 

264 26480 

Karstotit 

212 21880 

Kaufhof 

21050 

215 

KHD 

24980 

2S4 

K beck nor Werke 

7780 

78 

Kruop Stahl 

B0T0 


Unde 




IMl 


158 15980 | 

Monnnsmcein 


Metalbwetlschotl 23050 

232 

MuencftRueck 

1200 

1210 

Preussou 

250 

2S2 

Rue loers- Werke 

315 

325 



Srberlno 

461 


Siemens 

SOB 

513 

Ttrysien 

9280 

9380 

Varta 



veto 

16780 16880 | 

VEW 


Votkswogenwerk 

190.10 

193 


Prevlpv* ; 1.15640 



Source: AFP. 



[| Hong Kong 1 1 

Bk East Asia 

2440 

2648 


1380 

1380 

dWnaUohf 

14.90 

1480 


lft/n 

1080 

Hano Sena Bonk 

4680 

4685 

HK Electric 

785 

785 

HK Hotels 

a 

3285 

HK Land 

4A5 

1475 

HK Shcmaha! 

US 

880 

HK Telephone 

6150 

sam 

MK Wharf 

us 

540 


20 

1980 

Jerome Moth 

8JS 

8J0 

jomifwSee 

8J0 

8 M 


545 

585 


2J0 

185;' 

SHKPrpp* 

980 

980 

Slme Darby 

650 

650 

SleUrt 

146 

148 

Swire Pod He A 

24.10 

2480 

WtwlMar 

NjQ. 

1 

Wheetocfc 

<15 

LlZS 

Wtnoor 

&10 

AID 


i 


Other Markets Feb. * 

Closing Prices In local currencies 


World Inri |.+< \ j* 

Hw>0 Smg index : 156122 
PreWeei : 12H62* 

Source: AFP. 


Johannesburg 


AECI 
Barlows 
Blyvoor 
Buftals 
Elands 
Q FSA 
Vtarmanv 
Kloof 


PsiStevn 
Rustptat 
SA Brews 
SI Helena 
Semi 

Cemeoslte Stock 
Preeleu :9S6J0 

Source: AFP. 


728 720 

99S 998 
1600 1600 
6700 6675 
1325 1325 

2775 2750 
2625 2600 
6925 7000 
955 915 

5700 5700 
1700 1665 
600 590 

3150 3375 
570 567 

Index :«S*JB 


London 


AA Coro 



AlHed-Lyans 

173 


Anglo Am Gold 

*81 

$831* 

Barclays 

639 

631 

Bass 

487 

491 

BAT. 

368 

36] 

BeotJwm 

3S 

36C 

BICC 

255 

256 

BL 



hoc Group 

280 


Boot* 

167 

17* 

Boworer Indus 

225 

328 

BP 

536 

528 

Brit Home SI 

239 

239 

Brti Telecom 

124 

134 

BTR 

617 

639 

Borman 

71* 

212 

Cadbury Schw 

159 

141 

Charter Cons 



Coats Potons 

1S2 

155 

C0ns Gold 

494 

499 


140 

140 

Dofoety 

476 

476 

DeBoers 

*455 

an 

D te> Illors 


305 

Brief on tetri 

*231* 

cuto 

Dun lea 

36W 


F Isons 

289 

280 


Pres si Gad 

GEC 

GKN 

G lor ac 

Grand Met 

Guinness 

GU* 

Homan 

Hawker 

ICI 

imps 

Lloyds Bank 

Lonrbo 

Lucent 

Marks and 5a 
Metal Bu 
Midland Bank 
Hoi Weal Bonk 
Pllklnotgr 
Ptosaov 
JJocol Elect 
Rondfontebl 

(tank 

Peeaimr 
Reuterx 


CMS* Pr«v. 

S20Vk S21to 

704 204 

304 204 

11 19/3211 27/32 
22 295 

TO 236 

694 699 

209 214 

425 429 

839 842 

196 1*4 

579 577 

lai in 

265 267 

125 174 

415 415 

349 349 

662 664 

s s 

S86W I87to 


564 

330 


572 

330 


Canadian Indexes Feb, 4 


Naoo Previous 
Montreal 12159 12194 

Toronto 157150 1575^40 

Montreal; Stock ExdmK IrWusJnute ImtrtL 
Toronto: TSE 300 Index. 


Montreal 


63753 Bank Mart 
SQCIL 
11712 Gan Bath 
359) own Txi A 
2025 Mat Trat 
125863 NotBk COO 
173S0 Power Caro 

1100 Holland A 
$9$82 ROW* Bert* 
SOORovTmCO 

TOO StoJnbrg A 


HM 

S27to 

$29 

118 

1121k 

S14I4 

S16to 

OW 

llAto 

*31*k 

ill Vis 
S2B* ; : 


Talol Sates: 2.1854S3 shorn 


LowCImoCBm 

773k 274k— to 
29 29 + to 

17* I7to- to 
12 17 — *k 
Mto Mto— to 
16Vk 16to 
381* 28to+ Ik 
16V] 1645— to 
30*k*r*-H 
18 IBli 
2 B'i 2B + to 


Solution lo Previous Puzzle 


HcniDO aaoiH oiana 

□CDBP □□□□ E3H0H 

□DQCn 3300 □□□□ 

HomEaHCiaaQa 00 a 
aaan Haaaazi 
onnnan aaaaaa 
□man oaao aanna 
□□Haasa □aaaaaa 
□□qds anao aaaa 
aaanaa oaaaaa, 
□nms0H anna 
cieqq QaanaHanHaa 
0 GQ 0 sana aaaaa 
munn aaaa aaaaa 
bbqe aaaa naaoa 


2 / 8 /Bs 


Borpl Out (Si C 47 S/6446 25/32 
RTZ 634 639 

SMI 74* 766 

STC 2*2 252 

sw Chartered 514 517 

Tall end Lids 453 455 

Tesco 212 m 

Them emi 437 die 

T.I. oraua 220 717 

Tralaloar Hu ito 347 

THF >42 i«j 

Ultramar 206 m 

unltoveri 11 27/3211 27/33 
U«rted BHcults 191 iw 

Vlckera 234 734 

W.Deeo ns S3SU. 

WjtaMtogs J27V? 

War Loan 3V, t 34^ 

Wool worth Sn 584 

2CI I8V5 US* 

Source; AFP. 


Hachetie 

l metal 

LotarueCap 

Lear and 

POneal 

Matra 

Mcheiin 

MM Pomwr 

Meet Hennossy 

Moallnex 

Nard-Est 

Occldentaie 

Pernod Rlc. 

Petroies (tsej 

Peuoaat 

Podaln 

Prinlomus 

Rortot+chn 

Redoofe 

Roussel Udot 

Skrt Rasslonol 

Sour.Porrter 

Tstornacan 

Thomson CSF 

Valeo 


Clem Pre* 
1790 I9tf 
81.90 78 

«4J0 406J0 
1990 1976 
2349 2375 

1750 17B1 

B01 000 

71 7a 10 
1955 J97S 

101 ioaio 

7690 7070 
710 710 

701 709 

251 251 

272 275 

si SI 
19130 195 

265 372 

1240 1360 

1585 1599 

2000 1990 

*67 480 

2260 3370 

459 

258 257 


*2*1 Index : I95J4 
Praehn : 19SJ3 
CAC I ndex : 195.10 
Previous : I9SJ0 
Source.- AFP. 


I Singapore 


Milan 


Banco Comm 

COnlrole 

Cfortntots 

Craailal 

Farmiialla 

Ftal 

F insider 

^r a " 

Italcomfirtl 

twedMmtco 

Montedison 

onwetfl 

Pirelli 

RA5 

Rimseeme 

snia 

Slonda 

,MI8 index :US7 
Prevloo* :L159 
Source: AFP. • 


1WW 18956 
2990 3930 
«10 5930 
2240 2340 
10020 IOOIO 

242$ 2425 

Sfc7$ 0-75 
36850 J9600 
68*0 7000 
78400 78550 
fllSOO 13030 
I486 1485 
*420 4550 
2310 3285 
68580 697Q0 

SBI 5K50 

3107 31/0 
2610 2*30 
9490 9415 


Baustooa 
aid SToraae 

_'B5 

Frasartueave 
How Par 
indKape 
KePOelShla 

sa? nk,BB 

OUB 

SemhShlpvord 

SDorkv 
S StoamsitiD 
31 Trading 
UOB 


1^0 1JD 
2.74 2JB 
5.90 5.9S 

Z33 239 

Z61 265 

1.73 166 

5.95 6AS 

950 9 JO 

3.96 4 
N.T. 1a3 

If* 

1-17 1.1* 

4.74 466 
4J2 IS 


O UB Inde x 142066 
Pr eviou s :«XU0 

Source: Owerseax Union Bank. 


Stockholm 


AGA 

Alla Laval 

Ama 

Astro 

Atlas Caeca 

Bollden^ 

Electrolux 

Ericsson 

Essclte 

HWWW WI 

Phormocia 

5«*-Scanla 

Sandvlk 

Sbonika 

SlCF 

SwHIshMalch 

Volvo 


373 347 

wi ito 

368 360 

?J4 114 

ig uv 
S ws 

296 391 

N ,g; NO. 
IK 106 
22S 221 

•LO. ^ 

390 390 

9M0 97 

»5 1*1 

22 369 

372 368 


Source : AFP. 


Paris 


Air LiauMe 

598 

599 

AWhamAH. 

227 220.10 

AvDasMiril 

975 

881 

Buncnlro 

615 

618 

BIC 

579 

570 

Bouvnum 

750 

749 

BPUD 

2350 

2357 

CarreMur 

1870 

1851 

Club Mod 

1196 

1200 

Coll meg 

2*3.70 

363 

Durrwi 

70Q 

695 

Elf-Aauilaine 

22590 

326 

Europe ■ 

10» 

tool 

Don Eau> 

574 

572 



RGC 
Samos 
Sletoh 
Southland 
Woods Ids 

Wormald 


370 388 

510 520 

190 188 

23 2S 

85 BS 

322 318 


:76630 

PHVJH H :772J1 
source: Routers, 


£. 


Tokyo 


Akal 

AsahlChem 
Asahi Glass 
Bank of Tokyo 

BrlOuesfane 
Canon 

Dol Nippon Print 
Mwa House 
Full Bonk 
Full Photo 
Fulltsu 

Hitachi 

Hondo 
IHI 
iron 

Je»an Air Lines 
Kollmo 
jjontai Power 
Kao Soap 

Steel 
Kirin Brewery 
Komatsu ltd 
Kubota 

JJ®!* 1 Eletinds 1,(9 im 
X f.' Elec. War ks 637 ^ 

MJtsub sw Bank MOO 140 
Mitsubishi Chem 
•MlkuMshl El^ 

.M rtublrti! Heavy 

Mltsublihi Carp 


651 450 

678 681 

862 870 

625 630 

,531 520 

928 930 

S45 545 

1340 1350 
17M 1750 

1330 1250 
SSD 862 
13*0 VOO 
146 148 

341 341 

5200 5250 
274 274 

1330 1370 
B25 B3S 
146 |47 

S54 561 

456 452 

.52 

1470 1550 


Mitsui — u 
MltsukosM 
Mllsuml 
NEC 

Nippon Steel 
N eoon Yusen 
Nissan 
Nomura Sec 

Olympus 

Ricoh 
Sharp 
Sony 

Sumitomo Bank 

Svm joTM 

TolseiCarp 

Marine 

min aQOwm _ „ 

HSSSaE"" 

707 7W 


419 433 
400 433 

234 234 
533 525 
330 334 
382 XI 

iiso urn 

USD Tim 

614 605 

147 150 
243 240 
610 608 
897 910 

1190 1230 
885 195 
1070 1090 
3940 4060 
1610 1680 
213 216 

148 19 
199 195 
3*5 370 
780 820 
444 4S2 



Edbeig Uu?.' 

’ ML'-ti.-.;- ' 

FnsJr. - 
imhvr^i . . - 
h\ siT-ll- ' ; • ' 

TiK • 

pi 1 :. • 

odwtir •" 


SCOREBOARD 




'■Tr, 



Tokyo Marine 

Tarav ino 
Toshiba 
Toyota 

Yamalchl Sec 
New index : 93«ja 

gSiSk— 

Source: AFP. 


450 477 
,412 419 
1390 1290 
Sto $98 


gunk Leu 

S,f" 

5u»sm 

a,?* 

», !G " 

Oerilkon-B 

sss?, 6 ” 6 ' 

Schindler 
Suitor 
SBC 
Swjtou. ■ 

Winterihur 

cur>Oi in* j5jv jmo 

SBC Index : «2.9B ,W06 -2ifla 

Source- AFP 


3780 3790 
ISO 1550 
27« OH 
3410 3440 
271g 7750 > 
JK 750 p 
6300 6400 + 
I960 2000 
1620 1*40 
6070 6105 
1370 1360 
Bms 909 
7650 7B00 
3«3 3625 
316 328 

>130 1125 
1475 1490 

3590 3*a 
,4230 4340 





Si V... 



























INTEKINAT1QNAL HERALD TRIBUNE, TUESDAY, FEBRUARY 5, 1985 

SPORTS 




- . v -tv. 


Hess Continues Swiss S kiin g Dominance 

O 




United Press International “p U e~„w • 

BORMIO, ltalv Eriti working now, Fve the men’s and women’s downhill 

back to her brilliant best afieT^ y “^ence back,” Hess titles Sunday. 


- - ‘Min 


. . ■ v *• 


long lean spdi, won the women’s 
combined event here Monday and 
continued Switzerland’s sold med- 

Hess retained the fust of three , d cham P 103 “b»Ps- ^f!SL suit made up for her disappoint' 

titles she won at the 1982 world ^ eve 5 rea % lii ought about the vras second in 1-32.40 and meat Saturday, when she led Figmi 

championships by setting the fast- com | > “ , ? uon - Since my World Cup was y.' i -iran the all-out downhill only to have 

est time in both runs ofa sLUoS. haven ' 1 ***" m «h lately, ^ with ,^1 *e race weathered oul It was re- 

SI* be won — a data „« 13 «¥“ P!*^ on «■ Hess “< “f"?* ™V run. Sunday, v h« Bte finished 


%v combined went here Mondav anH ■ Ine course was fairly easy, but 

9$ :s riswSS *s* tatofe 3SSS55 


t men’s and women’s downhill Other downhill specialists — in- 
les Sunday. eluding Figini and Elisabeth 

,, , , Kirchler ol Aostria — fell on the 

Hess bad runs of 45. 19 and 45.60 steep dopes of the first run. 

’gJ iia r aHBKSPft . ■»* 


USFL’s New Chief to Make His Capital Hill Pitch 


!ureonme,”Hess 

i ’’ months ago. The combined" event sa * d * “Oust skied for the fun of it," 10/ rae 5? s !. eei) ' 

5°!° Ih y e * ul, » of Sy B via Eder.or Austria took the 

•• *v[ the slalom and last Thursti.-.v'c silver medal with 34.42 mime. .L-rTT. 


■■ 

■ • 




the slalom and last Thursday’s silverniedal with 34.42 


downhill. 


American 


Two faultless runs down Mon- *<= bronze with 44.45. nui jwa 56 earns. the 

16* S pkST^do^h Ht Si JK* ' A fiy y F V Z Swit2 ^ aad **on d«S! McKinney said her bronze “is 

she was 121 seconds far ^ 50 Maria WaUiser of Switzerland just as valuable as an Olympic 

□nd cave the SEStSd SSJKF ** champ 1 on- and West German Traudl Haecher. medal This is an important race. I 

c • . P „ . . first and second after the downhill skied a strategic race^Now I want 

penalty The Swiss pair of Pinrun 2llr- finished both slalom runs but to concentrate on slalom and giant 
□nggen ?md Michela Figini won dropped well down the ctandmgc slalom." 


w lu limuu UViiUUiUUU tULWI u ui- I . . . 1 i . 

sastrous downhill four days ago mh T* P for . her l . di fTC“ l : 
hfcS- P“ l Saturdajf. wha she led Fvguu 

ocy was third in 1:32.80. in the all-out downhill only to have 

On a difficult track with a veni- ** “ “ L 

cal drop ASn^ttlS. **** ^ ******* 

the slalomists were able to make up „ 

their deficits from the downhill She and Switzerland’s Brigitte 
aJ with 34.42 points, and portion and the final Oertli, fourth overall, were the only 

Tamara McKinney won combined results. Monday’s first downhill specialists to challenge 
run was flaeeed with 56 eates. the for w t e d ai s in the comhmcd. 


gold with a total of 18.72 penalty 
points. 


slalom." 


- • 

-tJS:. 

■ Y V '.?V 


T- 

- LuVijA'jnQ 


SPORTS BRIEFS 

Foyt Team Takes Daytona Auto Test 

. r DAY J2 ?l BEA JF?- f 10 "^ (UPl) — The quanet of AJ. Foyt, A1 
g^5?S?“ m WoU< * Md Belgian ifierry Bouts«» wK 
Daytona 24-Hours sports car endurance race here Sunday 

^ wim^ u, a Porsche 962 prototype, benefitted from a mishap 
% tnvpKing ; the ! 962 of AJ Unser Jr^ A1 Holbert and Englishman Derek Bell 
"fi by ** 3 1 3 Japs late Saturday m&hLWitii BeU at the 

wheel that car -- which led from the middle of the fourth hour until 43 
minutes from the end, a total or 574 laps — developed fuel line and 
ignition problems that stalled it twice. Wollek came from three laps back 
and drove to victory. y 

O’Meara Wins Crosby Golf by 1 Shot 

PEBBLE BEACH. California (AP) — Mark O'Meara scored a one- 
shot victory Sunday m the 44th Bing Crosby golf tournament. Hie No. 2 
nwney-winner on the PGA tour last season dosed with a one-over-par 73 
• on the ram-dampened Pebble Beach Golf Links: his four-round total was 
a five-under 283. 

O’Meara led by only one shot most of the way and had to sink par- 
savrng putts of six feel (on the I5th and 16th holes) and 12 feet (on 
No. 17) to make it stand up. Curtis Strange; playing with O’Meara in the 
final group, missed a seven-footer on the 18th green that would have 
forced a playoff. 

Strange finished 72/284, tying him for second with Larry Rinker (a 
final 69) and Kifcuo Arai of Japan (a 71). Rex Caldwell and Payne Stewart 
had dosing 66s to tie for fifth at 285. 

, Edberg Crushes Noah in Tennis Final 

MEMPHIS, Tennessee (AP) - — Stefan Edberg of Sweden trounced 
Frenchman Yannick Noah, 6-1, 6-0, Sunday to win the US. National 
indoor tennis championship. Edberg, s eed ed ninth, had reached the final 
by eliminating defending champion and top-seeded Timm y Connors. 

The 1 9- year-old Edberg, who is ranked 19th among the world’s touring 
pros, demolished Noah in 54 minutes. The winner made only three 
unforced errors and served five aces. 



Erika Hess, winning the combned: T just skied for the fm of ft.* 


By Mark Asher 

Washington Pal Strive 

WASHINGTON — Monday was Harry 
U&ber’s fourth official day as coomussioner 
of the United States Football League, whose 
teams lost what he conservatively estimates at 
$100 milli on in its first two years. It also 
might prove to have been one of the most 
important days of his stewardship in deter- 
mining if the league will survive. 

He was scheduled to testify at Senate Com- 
merce Committee hearings on two bills that 
would restrict franchise relocation in profes- 
sional sports. While other league executives 
are likely to ask Congress for additional anti- 
trust exemptions, to relieve the bidding for 
teams in the wake of the Los Angdes Raiders* 
S49 million antitrust victory over the Nation- 
al Football League, Usher will argue other- 
wise. 

Late last week Usher said Congress is ooi 
coiltidering “the root of the problem" in the 
two bills in the Senate Commerce Committee 
and (wo others scheduled for hearings 
Wednesday before the Senate Judiciary Com- 
mittee. The root of the problem, he said, is an 
NFL monopoly created unintentionally by 
Congress when it granted antitrust exemp- 
tions in 1961 to pool television negotiations 
and in 1969 to enable the NFL to merge with 
the American Football League. 

The AFL was on NBC Television, the NFL 
was on CBS: then the merged NFL added 
ABC for Monday night football in 1970. As a 
result. Usher said, it “becomes virtually im- 
possible for a new league to compete on a 
firm economic basis.’’ Although each of the 
three networks is a larger business than the 
NFL (gross revenues estimated at $750 mil- 
lion last season). Usher contends none of the 
three can “resist the incredible economic 
power that the NFL has." 

His solution is to ask Congress to limit the 
NFL to appearing on only one or two net- 
works. 

Without television revenue, teams will con- 
tinue to lose money, investors will stop in- 
vesting and ultimately the USFL will fold. 
ABC bolds rights to tdevise the USFL’s 
spring games, but the league derided last year 
to switch from a spring to fall playing season 
in 1986. 

“How many investors can you get to come 
in if, in fact, you have shortfall, n you can’t 
see a result of your investment, or Lhepossi- 
btiity of the result of your investment?^ Ush- 
er asked. “It is difficult then to attract inves- 
tors. So the people who are here don’t 
necessarily have to have deeper pockets. . 

“It’s the' ability to attract deep pockets 
which is equally relevant. If there is an oppor- 
tunity for a competitive window — the ability 
to televise on the network on Sunday — then 
1 don't think we're going to have a problem." 
He declined to give specific examples of 


the networks’ refusal to deal with the USFL 
for fall games, saving that was part of (he 
evidentiary process in the league’s SI 3 bill) cm 
antitrust suit against the NFL That case is 
not expected to come to trial before the end 
of the year at the earliest. 

Usher outlined the relevance of the NFL- 
network alliance- to Monday's bearings: 

“When you take this monopolistic position 
the NFL has. and it builds up and builds up 
so that the television revenues are a material 
portion, if not the material portion, of their 
revenues and economic base, then that mo- 
nopolistic position is used to restrict the num- 
ber of franchises that divide into the number 
of television payments. In the 14 yean in 
which they’ve bdd this monpoiistic position, 
they’ve only expanded twice, Seattle and 
Tampa Bay in 1974. 

“So year in. year out. you have all these 
cities like Jacksonville, Memphis, Phoenix 
and Indianapolis all applying for franchises. 
And they (the NFL] say no. because that 
dilutes the television, and the net result is that 
these teams have become so powerful. 

“Then you throw on the Raiders case, 
allowing them to freely transfer arguably — 
because it’s an antitrust violation to prohibit 


them — that these dues have basically gone 
paranoid. . . leveraged by the fact the team 
will move to them, in which case yon make an 
incredible deal or the team wdl move out 
from you, in which case they make an incredi- 
ble deal to keep the team. . . . 

“But instead of addressing the problem — 
which is the monopolistic position that this is 
allowed to happen — they are going to con- 
sider biUs that m fact enhance die monopolis- 
tic position, to restrict transfer, which is 
somewhat bizarre." 

And bow does he think Congress will re- 
spond to him? 

“I don’t know. Nobody’s ever told them 
this before. 1 don’t think. Td like to compete. 
When you just refuse to deal, it's not fair. Just 
let us compete." 

Usher represents a change in direction for 
USFL owners. He replaces Chet Simmons, a 
fanner network and cable sports executive 
whom the league hired as a front man with 
credibility among television people. In Usher, 
they have hired a day-to-day chief operating 
officer, a man who teamed with Peter Ueber- 
roth to make the Los Angdes Olympics a 
financial and artistic suc ce s s, 

Usher gave up his Beverly Hills law prac- 
tice five years ago to join the Los Angeles 
Olympic Organizing Committee. He sees 
similarities between that job and this one. 

“I remember telling people 1 was giving op 
my law practice and they said, ‘Jeez, there 
aren’t going to be any Olympics in 1984.’ 
Carter bad announced we migh t DO i go and 
there might not be another Olympics. They 
said. 1 don’t know what you're doing.’ That 
was a common comment when 1 started. In 



NYT/Buby Wuhtign 

Harry Usher 

that respect I find a lot of similarities'. People 
say 1 signed a three-year agreement [for a 
reported $250,000 annually], but they don't 
think I'm going to have a league in a year.” 

But he has plenty of incentive to be suc- 
cessful. His deal with the USFL includes a 
percentage of any network television contract 
the league lands, according to The New York 
Times. 

It's been ratha- hectic during his two and a 
half weeks of official and unofficial time on 
the job. “In the Olympic Games, coming in 
five years before, I was able to set the agenda 
and the timetable in many respects. The dif- 
ference here is that it’s coming at me from 
every conceivable angle right now.... It 
makes me Hanre faster." 

But he already has started to bring some 
stability to a league in which he says only one 
team, the Tampa Bay Bandits, has a chance 
to be profitable this season. All the others, he 
predicted, will lose at least $1 minion. He 
called his first league meeting last week. The 
owners unanimously adopted a plan to subsi- 
dize the Los Angeles and Houston franchises 
and to seek new ownership for the Los Ange- 
les Express. 


•Iv.V' • 


•? lortffi 


World Championships 

WOMENS COMBINED: SLALOM 

tfrt Bormta. IWW> 

I. Erlfco Boss. Switzerland, 4S.1»4SJ0— 
ISJM9 

l Ursula KoraCtL Ueditmsfeln. MSI. 
«l»-l -MM 

X Tamara McKtansy. UA. 4M1-46J*- 
1:3240 

4. HMWM Barttar. Franco. 46J7-46JB— 
1:077 

5. Srtvio Ed#r, Austria. 474W47ni— I :W-I7 
i. Maioorata Ttolha. Potaut «Z8-47 j«— 

1:310 

7. Eva TMVtiafcans, UA. 17.4) -17.09— 
l:MJD 

A Elena Medzlhradska. cmctiasJovokla. 
47JW7XS— 1:015 

9. Darota TBtlka. POkmct 47.0-47.79— 
1:3X20 

16. 0 flume Oartli,MI»rfanA 4a»-«.M- 
1:3425 

Combi Bed Besotti 

VHe>Si)&72pdlitfB;3LE<Sar,3ACI;3.McKln- 
nev. 4445; 4.0mm SUU; 5. Bortrierv 52.14; &. 
Traudl HoKhsr. West Gormonv. 5725: 7. 
TMmtokens. 4051.- & VeranIM Waiitmw, 
Arabia OW: 9. Kansan, 8479; la Marina 
KifchL WkjI Germany. 84JS. 


Ante Racing 

'■ IN lop iUMi in the Dartana a l in o t*' 
snorts c m —Huws M w cfc Nl dlBl un l w iM 
SOMov In Daytona Boach, Florida (wttb typo 
of ear, laps completed and average speed In 
miles por tour]: 

I. AJ- Favt, Bab Wollek. Franca M Unser 
and Thlarrv Bautsea Beta turn. Porsche 942. 
IQZ laps. ZSnZSt total tulles, ava 104.142 mob. 

Z AJ Halbert, Derate Bell, England, and AJ 
Unrar Jr- Porsche 942. 484. 

1 Jim Busev, Rick Knoap and Jochen Mats. 
West Germany, Porsche 942. 574. 

4- Jim Akin, Hano Stuck. West Germmiv.aid 
Paul Miller. Porsche 942. 4781 

5- Jim Mullen Bay McIntyre and Kees 
Nleran, Canada Porsche Turbo 935. 448. 

4- Al Leon. B fcee t er McKlHwlefc and Terry 
Walters, Poraehr-Moreh. 454. 

7. Bill wnmmoton, Bamhr Lanier and Al 
Lena PorscfteUMerch. 452. 

A John Janes. Canada Wally Oallenbach 
«)d Doc Bundy, Ford Mustans, 437 (winner 
GTO Division). 

V. Wavne Baker, Jack Newsum tod Chip 
Mend. Porsche Turbo 93$, 434. 

TO. Kelly Marsh, Ron Pawley and Don 
Marsh, Manta Argo. 4dtt twhmer Comal Uohl 
Division!. 

II. Danny Smith, Tom Woudi and Dteoo 
Femes. Puerto Rka Mazda R7C-7. 399. 


NBA Standings 


EASTERN CONFERENCE 


Basketball 

Selected U.S. College Conference Standings 



Atlantic Division 




Conference All Game:. 


W L 

Pet 

GB 


W L 

Pd. « 

•L PCI 

Boston 

39 9 

J13 

— 

SL John's 

0 0 

L000 17 

1 .944 

Phi tods tofllo 

37 10 

.7*7 

lta 

Georgetown 

7 2 

771 19 

2 JOS 

Washington 

27 33 

SSI 

T2tt 

Syracuse 

6 3 

547 15 

3 533 

Now Jersey 

a 94 

558 

17 

Vllkmovo 

4 3 

547 14 

5 737 

New York 

17 32 

-57 

22Vi 

Boston CoJL 

4 5 

544 15 

5 .750 


Central Division 



Pittsburgh 

J 5 

STS 11 

7 511 

Milwaukee 

34 14 

JOB 

— 

Connactlcul 

3 4 

533 1 

10 544 

Detroit 

29 17 

530 

4 

Provtaence 

2 7 

722 9 

13 509 

Chicago 

2* 23 

511 

99k 

Satan Hall 

0 0 

JW0 0 

11 550 

Atlanta 

20 27 

524 

73% 


ATLANTIC COAST 


Indiana 

16 31 

-313 

IB 


Coirfe mice All Games 

Cleveland 

M X 

-304 

19 


W L 

Pd. w 

L Pd. 


WESTERN CONFERENCE 
Mhfteest DtvtskM 


V 1 



Golf 


Denver 

SO 

19 

5«2 



Houston 

27 

30 

574 

2 

Dallas 

25 

23 

521 

4Vi 

son Antonio 

23 

24 

589 

i 

Utah 

22 

36 

558 

m 

Kansas aty 

IS 32 
Pacmc Dfvistoa 

J19 

14 

LA. Lakers 

34 

14 

580 



Ffioonto 

23 

2S 

579 

10 

Seattle 

21 

28 

529 

1219 

Portland 

20 

28 

517 

13 

LA. Cl Uwers 

19 

29 

J96 

14 

Golden State 

11 

35 

-239 

21 


Morrttod 

OuM 

GeoraSa Tech 
N. Carolina 
Wake Forest 
N .Carolina St. 
Oentsan 
VTrBtnta 


4 I 40 17 4 739 

5 3 425 15 3 £33 

5 3 .425 14 4 BOO 

4 3 .571 14 5 742 

a i sn « t d« 

4 4 J» TJ 7 .422 

3 5 .375 It 7 £32 

1 7 .125 10 10 SB 

BIO TEN 


iterence Standings “^8* * 5 ^ u » jb 

Qklohemo St 2 4 333 11 t 379 Son Joee St 4 4 400 9 10 350 

Missouri 2 4 333 u 9 371 Utah 51. 3 4 333 10 9 334 

Kansas SI. 1 S .147 10 9 324 3 4 JJ3 7 II J» 

Colorado I 5 .157 7 12 348 M “* co St 1 7 300 6 13 JW 

EC AC NORTH ATLANTIC ' Lono BOt St. 0 10 300 2 14 .111 

CanferanceAU Gomes **** COABT ATHLETIC 

W L Pd. W L Pc#. Cwi f er e n c eAll Games 

Canblus 10 0 1-000 IS 1 J» _ L Pet. W L Pd. 

Siena 5 7 JS9 14 4 778 Peoperdkie 5 I 333 14 7 394 

Ntatora ■ 3 727 I? 8 MX Sanra ctoro * I J80 IS 6 714 

Northeastern 4 3 357 10 I 356 **• **orv* 4 1 300 12 8 300 

Boston U. 4 3 371 B » 344 Gonoaao 3 2 -400 3 6 364 

Vermont 4 5 Mi 7 11 389 Sto Dtato 1 4 300 12 0 300 

N. Hampshire 7 9 .102 3 18 .143 1 * » 11 A5C 

Maine 1 7 .125 6 12 333 0 * 300 10 10 300 

Cotaerte 0 9 300 5 13 378 WESTERN ATHLETIC 

Hartford • . ^ 4 14 322 Conference AJI Games 

BCAC SOUTH W L Pd. W L PcL 

Conference All Games Texu-E! Pern » 2 300 16 4 727 

W L Pd. W L Pd. S* Dto *’ S». 7 3 700 M 5 342 

Novy ■ I 389 15 3 333 New Mmifco 7 3 700 14 7 347 

Richmond 7 2 J7t 11 i Ml Brtannm Venn 7 3 700 13 I 319 

Gao. Masai 5 3 325 10 0 354 4 4 300 U 0 319 

Will. A Mary 4 3 371 10 7 388 CotorQdo 51 4 4 300 12 8 300 


Davis , in Return, Helps 
Suns to 120-109 Victory 

CanpiM ty Our Staff Fnm Dupmdta — K> flaiTOW (he gap to 1 1 M05 
PHOENIX Arizona — After wih 57 seconds to go. But Phoenix 
missing the first 47 games of the *»■* h * ^ fn * 

cMCAfi with fnm Hoairw^nfc it. UlTOWS QOWD tBC SlTClClL 


season witii tom knee h'gameuts, it* 
was fitting that veteran guard Wal- 
contaranraA 11 Game* ter Davis scored 1 1 points in an 1 1- 
> 5 1 333 16 7 3 K point Phoenix victory. 

■a 4 i an is 6 314 Davis, who averaged more than 

4 > \ 'ah 1 2 304 points * game and was one of 
i 4 too n a no the kingpins of the Suns as they 
i 4 jn 9 u An made the playoffs in each of hos 

0 5 SB 10 10 300 

* enew * ATHL ETIC srnt EYVFTC 

Conference Ail Gomes iYHA fUUJ5 

VV l_ prl ^ PCt. 

•oao o 2 3oo i6 4 727 first seven Natiwial BaskeibaD As- 

I*' J t » !! > ra sodatian seasons, played a retative- 

ono 7 3 700 i 3 a M 9 ly minor role in the team’s 1 20- 1 09 

4 4 -Ho u b 3*9 victory here Sunday night over Se- 

t 4 4 300 12 8 300 

i 9 .Im s is jso But the Suns were more than 

o id 300 4 15 3ii happy to have him bade fm* the first 

ivy league time since he was injured in an 

^conferaneeA" GemK exhibition game. 

3 i n 2 344 The all-star guard tore ligaments 

3 i .730 9 7 343 in his left knee as a result of falling 

no 2 iiSIiJ» ODa slippoy Fonun floor in an 


(AP. UPf) 


puim rnuemx vicujiy. ran 

Davis, who averaged more than I ilTlfi I nWJirf 
20 points a game and was one of XAlTT<U 1 

the Iringpi ns of the Suns as they f a 1 » 

madTtfe playoffs in each of his J0t AtlRCa 111 

ABA FOCUS Tiniimnli 

first seven National Bask«abaD As- iniUHpD 


i . f- 

^ v • • 


TOP RaUbersotol rarofftaiw fto Bfoa Cras- 
Iry BOHtooraonwdl, completed Sunday t« the 
4399-yard, nar-72 P ebb le BeothGoW Unto la 
Pebble MKfw CalMaraia: 

Mark O'Meara. 990/B0 70-72^5-73—2X3 

Larrv Ridker, 07333 73-72-7IM9— 284 

KflutO Aral. S37333 73^0-71-71 — 784 

Curtis 5 franco, S37J33 7S+9AB-72 — 284 

RH CaldwetL S1»J»0 75-72-77-46—205 

Payne Stewart, ST93O0 73-73-74-6*— 28S 

Serrmonl Laiwr. $15383 73-71-71-71— 2B4 

Tom Worfson, *13383 75-71-71-49-284 

Gras Nortnoa *15383 74-48-73-71 -"286 

Doua TenetL S11J00 72-70-72-73-287 

Carer Pavln. $1)300 74-72-73^8—287 

Joimnv Miller, $11300 68-71-77-71— 287 

turn WmlMns, $11308 7HWHWB 

George Archer. *11300 60-70-76-72—287 

jay Haas. 18300 754A70-75-2M 


Crosby 


Sandy Lyle. 58300 
jack Nick Was. $8300 
l*oo AokL $6320 
Dan PafiL *4320 
Wayne Levi. *6328 
Mock Lye. *4320 
TX1 Chen.SAO0 
Ken Brawn, *5300 
Larry Mize. $5300 
Larry Nelson. $3,900 
John Mabolley. *3.900 
David Oarin. 9X900 
DA. WelbrlnB, SX90B 
Willie Wood. SX900 
Mika Nlcotafte. 0338 
rim Norris. S3338 

_ rfuberf Green. $3338 

Tom Kite. *1038 

■ Mark O'Meara *m» «*<*• «« 


70-72-68-73-283 
73-73-7039 — 284 
73-40-71-71 — 284 
75-69-68-72—284 
75-72-77-46—285 

72- 73-7466— 2B5 

73- 71-71-71 — 284 
75-71-71-49—284 

74- 68-73-71—286 

72- 7072-73-287 

74- 72-7348—287 
48-71 -77-71—287 

73- 7448-72—787 
60-7074-72—207 

75- 68-7075—388 

76- 71-7447—208 
76-72-7357-288 
73-74-7378-289 

76- 7371-70 — 289 

77- 7071-71—289 
75-7071-73-280 
40730047-209 
7V 70-76- 73 — 290 
75-70-7649—590 
7373-74-70—291 

78- 7371-70—291 

737372-74-291 
7349-7376 — 291 
69-77-7671—291 
767371-73-292 
73767371—292 
7372-7373-292 
77-7671-70—292 
7070-7678-292 


Hockei 


NHL Standings 

WALES CONFERENCE 

Patrick Dlvtstaa 

W L T Pta GP °A 
wachlnotod 32 13 8 72 30 154 

PflUatotoMa 29 15 4 64 210 1S1 

N-Y. lakmden 27 22 3 S7 ® » 

N-Y. Rangers 17 26 0 42 177 208 

Piftsfearaii 10 24 5 41 17V -n* 

New Jersey 14 29 6 31 >75 213 

•dams DtvMoa 

Buffalo 25 15 »2 « ™ 

Montreal 26 14 10 “ !™ 

Queboc 25 21 7 57 »7 “ 

Boston 24 22 7 » '« 

Hartford 17 27 5 » J1S 

CAMPBELL CONFERENCE 

Norm DMNto 

kStLart! 23 W 9 55 1« »« 

Ibiicooa 22 20 3 47 205 205 

H » 10 ^ 21) 

Dot ran id 30 B 

Taranto 11 33 7 20 T50 

Smrtte Dhrilioo 

Edtnanlto 38 $ & 82 ZK> ro 

Catatoy 26 20 1 9 3** ** 

Winnipeg 27 22 5 9 »» ™ 

Loo Angeles 22 21 « g ^ 

Vancouvar 15 32 7 » ^ ^ 

SUNDAY’S RESULTS 
SLUM. I 1 

CMCO0O 2 1 ^ 

PosbMfkl 2 (121, B. Suffer 128). 
idl. wkicenmfeer Oil. Federkd in)-™- 
Font (1 1. 0. Wilson (I5|. Snvnrd i281.Gotdner 


I m). S hot* oo goal: St. Louis (on Bonnennan)' 
10.37—24; CMcago Ion LIul) 30-14—31. 

om 3 I ! M 

Mew Jeraer 1 * * ” 

KJslo2 1121, Lambert ( Ut, Barron (51. Fas- 
ter (7J; Brotan (10). Htoeliw 112), Lever 16). 
Driver |8). Ptchette (13). snots on nol: De- 
troll (an Resch) 9-8-7-0-24; New J*r»v tan 
•*10)311-31-22. , 4 , 

Minaaofa * • M 

• 2 ■ ■* 

AShioa 3 (J*». Goutal 2 (34U Rktiter (2). 
jMioa goal: MbinOMia (onGassalln) 9-04— 
22; Sunk ion Bnerel 16135-37. 
Calgary * • 9—1 

Buffalo 1 _3 3— 4 

FoUano 124), Cyr |14). Tucker 112). Hamel 2 
( 141. Perreault 111); i-oob 123). stuKoa goal: 
Cataary (on Borroaso) 667—19; Buffalo (on 
Lemellnl 31311-37. 

WlaotaM * \ ^ 

Washington 3 I 3—4 

Met wen Hi). Gartner 2 1341. Stevens (Ml. 
Duchesne (141; HowercUulc (34). Small (17). 
State an 4*M: Wtanloeo (to Rtaaln) 6314— 
Washington (on Hovwardl 1312-14— M. 

Haritacd J ! ^5 

edawntoa * * ” 

Gretxkv 154). Kroshelnvskl 2 (32). Ktirrl 2 
<511 Napier 1121; Dineen (8). CromMan (I). 
UeuHM (151. 5bot» oa goal: Hon ford (on 
Fufiri 9-1317- 33: Edmonton ion Milieu) J*0- 
II — 34 

N.Y. Rangers 8 1 3—1 

Vancouver 1 1 M 

Pa^undstram (15). Tantl 3 134), Me Nob 
H6I- Sandstram (101. Sbota on enal: n.Y. 
congers «** Brodeurl 11-17-8—36; Vancou- 
vB r (an wonWeSbrauCkl 12-7-11—38. 


SUNDAY'S RESULTS Purdue 

Seattle 25 28 27 35-109 Ohio St 

Pbo tds 21 32 U 33-110 Indiana 

moot 310 3-4 19. Adams 34 1312 It Ed- Mlnnesot 
wards 7-11 64 18; Stkma ll-MMaASaOerm 18- Wtaconsli 
1764 as. RetMMndt: Seattle 43 (SlkmaMcCer- Norttiwei 
mlck 6>; Ptvxntx 53 (Adams, Edwards 12). 

Assists: Seattle 27 (Sobers 71; Phoenix 25 
(Adorns S). 

Denver >1 32 23 20—106 Oreean 5 

Dallas 27 JO » 20-714 southern 

Vincent 310 318 24, Aguirre 31564 13 Per- Arizona 
kin* 7-1 165 18; £nfllbti3144-42a Natl 61167 w a sh in g * 

16. Re&otmdi: Denver 441 Cooper 8); Da Has &2 ucla 

(Perkins ui. Assists: Denver 31 (Irari 10]; Arizona j 
Ooilas 3* (Oovts 01. California 

Indiana 31 33 23 39— tot Oregon 

LA Lakers M 25 32 11—122 Sltolord 

Worthy 31532 13Rambis3l01-1 17, Abdul- woshhigtan St. 
Jabbar 313 1-2 17. E-Wmsen 617 5-8 17; 516 
oanovtch 7-15 60 3b Brown 317 3-3 21. Bo- 
taeuds: Indiana 48 (Garnett 9); Las Angeles 
70 CRambls IS). Assists: Indiana 29 (Starts- Florida 
burv 41; Los Angeles IS (E Johnson 12). Missies! Pi 

Gfirplq 

College Top-20 Results 

Haw The Associated Press and United A^tarna 
Press laternoileMl tap-20 cotleae teems Auburn 
fared tar tae week eadtao Sunday: vonderbtl 

5f. -toko's 07-1) def. providence 77-40; def. UIU | Kk , 
Connecilcut 97-64. 

Geeraefowa (19-2) last to Syracuse 65-43; 
def. Arkansas 5639. 

MempaisSL 1 17-1) def. Cincinnati 81-41; dot > imwm 
V irginia Tech *1-82. TotaTAAM 

SetrttMrn MetkoMSt (133) dot. Houston 83 Arkarans 
70; def. RICO 4352. Texas Tech 

iUtaota(l35)to5ttePurdueS634;def.Hou6 

ton 77-76. Tews Chrism 

Delta (15-31 del. Wake Forest 767a OT. Tbm _ 
OkioMtno (17-4) def. Colorado 9371; def. tayiar 
Oklahoma Si. 83-81. 

Georgia Tech (164) lost to North Carolina 
St. 41-53; dal. Maryland 73-40. 

Syracuse (154) def. G eorgetown 4543; dal 
Villa nova 92-79; del. Morauetfe 71-53, Aki-RIrm 

Midi loan (163) def. Northwestern 7642; v _ r-1' 
def. Wisconsin *401. D[d q^,, 

North Caroiioa 1165) tosttoClennonss-SO; « Alabafi 
def. Citadel 83*2 def. Furman 77-Si Jotitanvll 

Tvtsa (17-31 def. Drake 67-44: tasllolndlona - FlorMa 
St- low w Kenta: 

DePool (165) def. Princeton 56Q; Iasi la yir Owri 
Louisville 77-71 

Oregon St. (144) tost to Col Morn la <2-36; def. 

Stanford 0373. 

Louisiana Tech 117-2) def. Arkansas SI. 83 maj1LCjlLl , 

73. Vlrolnlo T 

NovettaLni veoos 117-2) def. San Jose SI. an LJTl f ! 

7354: do*. Utah SI. 101-83. j, 

Maryland (17-4) def, Vtrotota 71-58; lost to Tu|gn 
Georgta Tech 73-40. Louisville 

vmoaova 1165) del. Plttrtnxgti 70-63; los) to s. Mltataf 
Syracuse 9379. Florida S» 

Kansas (17-41 def. Kansas SI. 75-57; def. Me- 
brasko 91-88. 

Alnboino-fUrmingfwm (19-5) last to Ok) Do- 
minion 59-58: def. 5autti Alabama BV73. OT. Tomole 

College Results 

EAST 51- Jaseah* 

Georgetown ^ Artises J9 Mossadiua 

Now Hmmntilre Col. 92 Bridoeoort 81 5t Banov* 

PoBdom SI. SI. lltnca 44 Duauesne 

Rowr Williams 49. W. New England 55 Pam SI. 
Syracuse 71. Morguetl* n Ptade isla 

SOUTHWEST 
Illinois 77. Houston 74 
So. Mat hod I si 48. Rice 52 

PAR WEST Oklahoma 

CltomJncde 81, Noire Dome Cot. £& Karan 

KtOM 95. Idaho 51. 69 |ng 51. 

Noire Dame 53. UCLA S2 NebroMo 



Conference All Games 

James Mad ton 

4 

4 500 

10 

UI 

SB 

Utah 

4 

4 500 9 13 509 


W L Pd. 

W 


PCt 

bLC-WWm. 

a 

4 250 

8 

9 

571 

Hawaii 


9 .100 5 15 250 

Michigan 

1 

2 

.778 

T6 


542 

. American 

l 

6 .143 

4 

13 

JU 

Air Force 

0 

ID iU 4 15 27 1 

kMO 

7 

2 

-778 

18 


J1I 

E. Carolina 

a 

4 500 

5 

12 

2*4 


IVY LEAGUE 

Illinois 

6 

3 

547 

18 


.783 

MID-AMERICAN 




Conference All Games 

Michigan SL 

5 

4 

554 

14 


-737 


Conference All Games 


W L Pd. W L Pd. 

Purdue 

5 

4 

556 

14 


JV 


W L Pd. 

w 

L 

Pd. 

Harvard 

3 

1 250 11 2 446 

Ohio St 

5 

4 

554 

« 

5 

m 

Ohio U. 

9 

1 -900 

15 

4 

-789 

Cornell 

3 

1 .730 9 7 563 

Inokmo 

4 

S 

544 

12 


532 

MJorrH. Ohio 

7 

3 300 

13 

7 

532 

Columbia 

3 

1 250 7 8 567 

Minnesota 

4 

5 

544 

11 


579 

Kent SI. 

6 

4 500 

11 

8 

S3 9 

Pennsylvania 

3 

1 567 5 10 233 

Wisconsin 

1 

8 

■111 

10 


53b 

Toledo 

6 

4 500 

11 

e 

sn 

Yale 

3 

1 500 9 B -529 

Nil rtftw ifni 

1 

B 

.111 

5 

14 

-263 

E. Michigan 

5 

5 500 

11 

8 

579 

Brawn 

2 

3 500 6 12 233 


PACIFIC M 




Ball Si. 

5 

S SB 

9 

10 

574 

Princeton 

1 

1 233 5 ID 333 


Conference All 

Games 

W. Michigan 

4 

4 500 

9 

to 

574 

Dartmouth 

1 

S .167 2 14 .125 


W L Pd. 

W 

L 

Pd. 

N. Illinois 

4 

6 500 

8 

II 

521 


Ore non 51. 

4 

a 


16 

3 

M3 

BovOne Green 

3 

8 500 

8 

11 

571 



W L Pd. 

Southern Cat 

6 

2 

JX 

12 

5 

-7D6 

Coat Midi ton 

a 

8 200 

7 

u 

Sit 

Dovton 


14 5 237 

Arizona 

4 

3 

567 

15 

4 

J14 

MISSOURI VALLEY 



DePool 


14 5 J37 

Washington 

6 

3 

547 

15 

4 

J14 


Conference All Garnet 

Notre Dame 


17 5 706 

UCLA 

6 

3 

567 

9 

9 

500 


w L Pet. 

W 

L 

Pet 

Texas- Son Anfnlo 

11 6 547 

Arizona st 

4 

5 

58 

9 

18 

574 

TuBa 

8 

i m 

17 

3 

550 

Marquette 


11 7 611 


The Associated Pros 

LAN DOVER, Maryland — The 
last time Washington faced Winni- 
peg, the Jets blazed to a 7-5 victory, 
but the Capitals learned a valuable 
lesson. On Sunday, they tightened 
up their defense and slowed down 


“Walter was favoring his leg a 
little," said Coach John MacLeod. 


the result was a 6-2 derision ihai 
fattened Washington’s lead in the 
National Hockey League's Patrick 
Division to right points. 

Mike McEwen had two goals 
and two assists and Mike Gartner 


“But he’s back. This is the begin- scored twice for ^ wimiers ’ who 
mpg. We turn H around now. 1 not r/^irc 


4 433 11 I 579 

4 40 10 12 AS 

7 222 M) 9 534 

7 422 10 9 526 


SOUTHEASTERN 

CanlorancoAll Gamas 


Wiehtta st. 
■Ulnois St. 
Cr ato m on 
Bradley 
Indiana SL 
Draka 


509 12 0 500 Radford 

525 15 4 J89 Utica 

535 16 4 427 SW Loutaiano 

Mi 11 8 -57? ChtcODO SI. 

500 II 8 519 Pto American 
mil ! 50 Stetson 



W L Pd. 

w 

L 

Pd. 

S. Illinois 

2 

7 

222 

10 

10 

500 

Brooklyn 

Florida 

7 

3 

200 

14 

4 

778 

w. Texas St. 

1 

0 

•111 

0 

11 

521 

£. Washington 

Mississippi SI. 

7 

3 

200 

11 

8 

579 

PACIFIC COAST ATHLETIC 


Baptist 

Geerata 

4 

4 

500 

U 

5 

737 


Conference All Garnet 

Tennessee ST. 

Tennessee 

4 

4 

500 

15 

7 

582 


W L 

Pet. W 1 

l 

PCL 

Nets Orleans 

Kentucky 

6 

4 

580 

11 

8 

579 

NeteLas Vess 

10 

0 

URN 

17 

2 

29S 

Cent. Florida 

Louisiana 51. 

7 

5 

583 

13 

4 

504 

Frwno St 

0 

n 

589 

13 

5 

.722 

Florida A&M 

AJabomo 

4 

5 

545 

14 

6 

7D0 

Fulton on St. 

7 

3 

700 

11 

8 

579 

Augusta 

Auburn 

4 

4 

500 

12 

7 

532 









Vonderfellt 

1 

a 

.111 

B 

18 

5M 









Mississippi 

1 

9 

.100 

7 

II 

200 


■■ 

■ 

m 

■ 

■ 

9B 

■HHH| 


12 10 545 
9 9 500 

10 11 574 
9 10 AM 
9 13 509 
■ 12 500 
7 13 450 
7 15 418 
6 15 484 
5 IS 250 
4 14 400 


think the guys were anxious to ha ve 
him back. It was certainly uplifting 
to see him out there again- Overall, 
by golly, I thought he played very, 
very wdL" 


NHL FOCUS 

are ranked third in league defense. 
“Winnipeg has loo much firepower 
for us to play wide-open against 
them,” said Coach Bryan Murray. 


Ata-BIrm. 

Vo. Common. 
Old Dominion 
S. Alabama 
Jodisonvllia 
S. Florida 
W. Kontudcy 
HCOwWt 


SOUTHWEST 

Conference All Games 
wu Pd. w l Pe«. 

8 1 J89 If 2 .900 

4 3 547 14 4 JOB 

4 3 547 15 8 553 

5 4 556 T2 7 532 

5 4 556 13 0 519 

4 5 544 12 f 500 

4 5 544 II 8 579 

1 7 .125 0 II 521 

;i B .111 B n 521 
SUN BELT 

CoittamiWB All Gomes 

WL Pd. W L Pet. 

8 1 589 T9 S JTl 

6 2 .750 14 3 542 

4 3 544 12 7 JW 

4 4 J00 12 f 500 

4 5 544 II 9 550 

3 4 529 13 4 584 

3 4 J3JS II 9 55C 

0 9 JIB 4 10 .182 


Maurice Lucas hit eight of 10 “Through most of the game, we 
field-goal attempts and led the had them under controls 
Suns with 19 poinis. while AJvan They needed that control most in 
Adams and James Edwards both the third period. After building a 3- 
bad 18 points and 12 rebounds. I lead on a McEwen goal and two 
Elsewhere it was Da l l as 114, others on which he assisted, the 
Denver 106. and the L a k e rs 122, Capitals saw the margin trimmed 
Indiana J 00 to one late in second period. Winni- 

Davis sank a 12-foot jumper ttyt peg got off 13 shots at gcalumder 
first time he touched the ball late m Pat Riggin in the next 13 minutes, 
the first quarter and he later pul but was unable to break through. 
Phoenix ahead to stay at 34-31 on a Then Washington exploded for 
three-point play with 8:58 left in three goals in 78 seconds (one each 


the first quarter. 


Then Washington exploded for 
three goals in 78 seconds (one each 
by Gaetan Duchesne, Gartner and 


“I got a little tired," said Davis. McEwen) to put the game away. 
“But I wanted to win it real bad." Elsewhere it was Buffalo 6, CaJ- 


MHTRO ATHLETIC 

ContarancaAH Gomes 
W L Pd. w L Pd. 
Mtoiohls SI. 7 1 575 17 I 544 

Virginia Taeti 5 2 JU 14 5 J 37 

Ondnnatl 5 I JW 13 8 500 

5. Carolina t 3 J71 li 4 547 

Tufam 4 4 JOO It 8 539 

»-*tota»lll$ 2 5 -20* 11 » SSO 

S- Mltatmfpgl 2 S -2Bi 4 14 -300 

Florida SI. 0 7 NO 7 11 JB9 

ATLANTIC M 

Contemn All Goraos 
W L Pet. W L Pd. 
Tomato 9 1 .900 IS 3 £33 

W. Virginia 8 2 NO n 7 532 



Lucas, who tmd 14 second-peri- Pri 1 • Edmonton 6, Hartford 3; 
od points, hdped the Suns stretch S*- Louis 6, Chicago 4; Detroit 5, 
iheir lead to 55-46 before they set- New Jersey 5; Quebec 5, Minneso- 
tied for a 59-53 halftime edge. 18 L and Van couver 4. the New 
Edwards scored 10 prints in the York Rangers I. 
third period, including six straight McEwen, a defenseman signed 
to lift the Suns to their largest lead last summer after being released by 

— 78-60 with 6: 14 remaining. Los Angdes, didn’t see his conta- 

in the fourth quarter, the Soules bution as anything special. “Every 

go! four three-point goals — two S an3e ^ have a hero, and it's usual- 
each by Ricky Sobers and Al Wood ty a different one,” be re m a rk ed. 

- .. “That’s why we’re in first place." 

xt tum. H7> r , . ■ Hawks Fire Coach Tester 

Witt Wins Compubones ^ a™, Bla£ * Hawks ^ 

In Europ ean Ice Skating Oro* Tessier and wffl 

a o replace him with general manager 

United Press imemtaumtii Bob Pulford for the remainder of 
GOTEBORG — Katarina Wiu die season. United Press Imema- 
of East Germany won the opening tional reported a team spokesman 


I- ‘ ’*' r 


Witt Wins Compolsories 
In European Ice Skating 

United Press imenuatomd 


Tomato 
W. Vlrabito 
Goo. WUhnotn 
Rutoort 
51- JOBBBh’S 

MSBOdllMItl 

SL Bamvontur 
Duqussao 
Penn SI. 

Rttotfo island 


4 4 500 II 7 ill 

4 4 500 10 ■ 550 

4 4 50Q 10 I 556 

5 5 -500 9 10 574 

1 4 531 9 9 SB 

3 7 JCO 7 11 389 

3 7 3S2 0 11 553 

1 9 .108 7 12 J48 

BIO EIGHT 

Confer «ncs All Cameo 
W L Pd. W L PCL 
6 0 1-000 17 4 J10 

S 1 533 17 4 510 

4 2 5*7 14 6 727 

3 3 M 13 4 AM 


of East Germany won the opening tional reported a team spokesman 
women's compulsory figures at the as saying Monday. 

European figure skating champion- Tessier was named to the job ifl 
ships here Monday. Witt, 19, the June 1982. In his first season the 
European titlist in 1984 and the Hawks were 47-23-10 and reached 
reigning Olympic and world cham- the Campbell Conference finals be- 
pion. held off strong challenges fore losing to Edmonton, 
from Kira Ivanova and Anna Kan- But he had been under fire this 
drashova of the Soviet Union. year for the team's disappointing 
- West German Claudia Leistner 22-28-3 record (12-13-1 at home). 

down bj a point Alvm Franklin drew all five Dfinois^aj ers man Patricia Neske sixth, followed the press and bis playa?Said Chi- 
in his driving attempt to put Houston in the lead. Franklin by Claudia Vffiiger or Switzerland cago’s all-star defenseman C 
missed the [ay-up — mid the lllim came away 77-76 victors, and Agnes Gosselin of France. Wilson: “Something has to giver 


IS 

> 







Page 16 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, FEBRUARY 5, 1985 


ART BUCHWALD 


Let ’em Eat Icicles 


W ASHINGTON —Talk about “Wben it comes to weather, it’s 

messengers of bad news — every man for himself. 


nothing beats the TV weather peo- 
ple. They chuckle in front of th«r 
maps whflfi all of os ppy at them 
with fear and loathing 
The trouble with the TV weather 
report is that it brings out the worst 
in all of os. 

The other evening I was watch 


The weatherman continued. “A 
Yukon express jet stream will bring 
record low temperatures to the 
state of Texas." 

“It's about time," I said. 

“What have you got against Tex- 
as?' 

“Remember during the petio- 


ing my U. S. weathe rman on the leum crisis when they put bumper 


late-night news 
and he said, M A 
cold arctic blast 
is coming down 
from Canada 
and will sweep 
across the Great 
Plains carrying 
freezing tem- 
peratures, snow, 
ice and wind." 

“What are _ ^ __ 

you smiling at?" Bochwald 
my wife wanted to know. 

“Better them than us," I said. 



suckers on their cars idling the 
Northeast to freeze to death?” 

“They didn’t mean it," my wife 
said. “That’s just the way Texans 
talk 1 feel for anyone who is cold." 

“Don’t cry for Texas," I told her. 
“All they have to do if they start 
shivering is go out in the bade, yard 
and fill up a pa3 with 03 and throw 
it in their burners." 


The weatherman was now point- 
ing at New York state. 

“The hardest hit part of the 
HD... .l. • th . rT ™. country was Buffalo, which bad 30 

"ISC 


“Great P lains residents all come 
from hardy Scandinavian stock, 
and a minus-42-degree wind chill 
factor to them is a grand soft day." 

The weatherman was waving his 
hands aQ over the map. 

“A storm now over the Pacific 
will produce six inches of rain in 
Southern California and Arizona." 

“Serves them right,” I said. 
“They’re always bragging how 
great their weather is, and it's time 


“How do you feel about Buffa- 
lo?’ my wife wanted to know. 

“Anyone who stays in Buffalo 
during the winter knows what 
they’re in for. Besides, 1 can't re- 
member one weather report in the 
last six months that didn’t show 
people digging out in Buffalo. You 
have to be pretty dumb to live next 
to Lake Erie." 

“Kentucky. Tennessee and 
Georgia can expect freezing rain 
because of this high-pressure sys- 


they got a taste of the elements. If lem ^ Mexico ” the 

they can t play tennis in Southern weatherman continued 


California they close the schools. 

“You’re being awfully crud." my 
wife said. 


Europe Chamber Group 
Flies to U. S. for Tour 


The Associated Press 
LONDON — The 45-member 
Chamber Orchestra of Europe left 
by plane for the first U. S. tour in 
its four-year history. 

The London-based orchestra 
consists of former members of the 
European Economic Community 
Youth Orchestra who are no longer 
young enough to qualify to per- 
form with that group. The two- 
week lour includes concerts in 
Washington, New York, Chicago, 
Boston and Los Angeles. 


“So what," 1 spoke back to the 
TV screen. “We never promised 
them a rose garden." 

My wife was becoming annoyed 
“You're no fun to watch the weath- 
er with." 

“Look, the only reason they tell 
you what the weather is like in 
other parts of the country is so 
people who aren't affected by it can 
enjoy iL Bad news is good news if it 
doesn't happen to you." 

O 

The weatherman continued. 
“This freezing rain will be pushed 
north by (he high, and we can ex- 
pect two inches of snow in the 
Washington area by tomorrow's 
rush hour." 

I couldn't believe what I had just 
beard, and looked up to heaven. 
“Why usT 


After 50 Years, Torgy’ 
Finally Makes It to Met 


By Samuel F. Freedman 

New York Tunes Say ice 

N EW YORK — When 
George Gershwin's “Porgy 
and Bess* opened at the Alvin 
Theater in 1935, it received (he 
chilly reception aO too familiar 
for visionary works. Many drama 
critics championed the “folk op- 
era," as Gershwin described U, 
but their musical brethren ranged 
from the befuddled to the bellig- 
erent. The production ran for 124 
performances but lost its $70,000 
investment Gershwin died two 
years later believing “Porgy and 
Bess” had been a failure: 

Half a century later, “Porgy 
and Bess" is about to open at the 
Metropolitan Opera with Simon 
Estes and Grace Bumbry in the 
title roles. The Wednesday per- 
formance will be the Mel's first of 
an opera that has played in more 
i Han 100 cities and graced the 
stage of La Scala 30 years ago. It 
is the ultimate Establishment em- 
brace of a work that continues to 
stir controversy with its musical 
daring and its depiction of black 
life by three while men — Gersh- 
win and his librettists, Du Bose 
Heyward and Ira Gershwin. 

George Gershwin conceived of 
and wrote “Porgy and Bess” as an 
opera, with recitative instead of 
dialogue, with arias that others 
detached as songs, with choral 
and orchestral requirements be- 
yond the usual dimensions of 
Broadway. The fact that the origi- 
nal production played in the Al- 
vin had less to do with Gershwin's 
intentions than with two formida- 
ble hurdles he faced: making a 
snobbish intelligentsia accept his 
fusion of popular and serious mu- 
sic and makrng a segregated opera 
world accept a serious work about 
black Americans. 

The initial production of “Por- 
gy and Bess," even with some par- 
ing to suit Broadway purposes, 
stayed closer to the work than did 
many of the more successful re- 
vivals. Only with the Cleveland 
Orchestra's recording in 1975 and 
the Houston Grand Opera’s 1976 
production, which played in New 
York, did “Porgy and Bess" re- 
ceive faithful renditions. The 



George Gershwin, self- 
portrait done in 1931. 


Metropolitan Opera's version 
may be the truest of alL Like the 
Houston Grand Opera produc- 
tion, it is uncut; unlik e that pro- 
duction, it is bring performed 
without amplification in a major 
opera house as pan of a repertory. 

According to various biogra- 
phies of Gershwin, the Met came 
close to mounting the maiden 
production of the opera. Otto 
Kahn, a wealthy patron of Gersh- 
win and the Metropolitan Opera, 
approached the composer about 
writing an American opera for the 
Met. Gershwin considered doing 
operatic adaptations of two works 
— the Jewish folk tale “The Dyb- 
buk," and “Porgy," DuBose Hey- 
ward's novel about black life in 
Charleston. South Carolina. By at 
least one account Gershwin was 
under contract to the Met for two 
years in the late 1920s. 

But by the time he began work 
on “Porgy and Bess” in 1933, he 
held a commission not from the 
Metropolitan Opera but from the 
Theater Guild, one of the leading 
producers of Broadway plays. 
There were several possible 
causes for the shift Anthony 
Bliss, the general manager of the 
Met and the son of the opera’s 
chairman in the 1930s, suggests 
that the Met's all-white company 


and its financial woes during the 
Depression ar gued against stag- 
ing a large work about blacks. 

The original cast ranged from 
classically trained vocalists to the 
vaudeville team of Buck and Bub- 
bles. “Porgy and Bess" had a 
Broadway-stvle tryout in Boston 
during which Gershwin and the 
director, Rouben Mamoulian, 
agreed to seme cuts — the “Jasbo 
Brown Blues" and Porg/s “buz- 
zard song" among others — and 
then came amid great anticipa- 
tion to New York. 

Debating the merits of Gersh- 
win's music had been one of New 
- York’s favorite parlor sports since 
the premiere of “Rhapsody in 
Blue* in 1924, and “Porgy and 
Bess" invited further polariza- 
tion. The New York Times dis- 
patched Brooks Atkinson, its dra- 
ma critic, and Olin Downes, its 
music critic, to review “Porgy and 
Bess." Atkinson hailed the opera 
and praised Gershwin's music for 
adding a passion that the stage 
version of “Porgy” — adapted by 
Dorothy Heyward from DuBose'f 
novel — had not possessed. Bui 
Downes complained that Gersh- 
win did not “utilize all the re- 
sources of the operatic composer 
or pierce very often to the depth; 
of the simple and pathetic dra 
ma " 

Members of the original pro- 
duction recall the disappommeni 
they and Gershwin fdt at the crit- 
ical response. “Critics com- 
plained it wasn't opera, it wasn't i 
musical," said Mamoulian, now 
86. “You give someone something 
delirious to eat and they complain 
because they have no name for 
iL" Todd Duncan, the original 
Porgy, said, “What George said 
was that the opera people 
wouldn't come because they 
thought be couldn't write an op- 
era and Broadway thought ‘Geor- 
gie's gone higb-hat on us.' George 
felt caught between." 

“Porgy and Bess" also pro- 
voked arguments about its por- 
trayal of macks. It provided jobs 
and exposure for many black art- 
ists, including opera singers who 
had been unable to perform Euro- 
pean works. Heyward had liberal 



Simon Estes, Grace Bumbry in Met's “Porgy and Bess. 


racial views. But the question re- 
mained whether his characters 
were sensitively drawn or the 
same old whoring, gambling, su- 
perstitious stereotypes. The com- 
poser Duke Ellingiofl once said 
“Porgy and Bess" was “black on 
stage, white everywhere else.” 
During a 1953 revival of the opera 
on Broadway, the black journalist 
Janies L. Hicks reviled “Porgy 
and Bess" as “the most insulting, 
the most libelous, the most de- 
grading act that could possibly be 
perpetrated agaiust colored 
Americans of mwlera times.” 
Anne Brown, the original Bess, 
recalled: “Mv father, who was a 
doctor, didn’t like it at all. He 
didn't want me to be in iL He said 
it perpetual ed the image of blacks 
as lazy people, singing hymns and 
taking dope. A lot of the black 
educators thought it was Uncle 
Tom. Bur I felt that if it brought 
us forward in American music 
and in opera roles for black sing- 
ers. then we should do il” 

A revival directed by Cheryl 
Crawford of the Group Theater 
and starring Brown and Duncan 


played in 26 U. S. cities in 1 942 
and 1943. The U. S. State Depart- 
ment sent a production of “Porgy 
and Bess" with William Warfield 
and Leontyne Price to 29 coun- 
tries in Europe, Asia and South 
America in the mid- 1 950s. 

But “Porgy and Bess" was be- 
coming more of a theater piece 
and less of an opera. For the 1959 
film of “Porgy and Bess," Andre 
Previn wrote a new arrangement 
of the Gershwin score — and won 
an Academy Award for it_ Only in 
the mid-1970s did the public Hear 
the “Porgy and Bess” that Gersh- 
win wrote. 

At about that lime, the Metro- 
politan Opera began to seriously 
consider mounting a production. 
The Gershwin estate requires that 
all productions use blacks for all 
the principal and chorus roles. By 
1980, Bliss said, the Met found 
itself financially strong and its 
company had come to include 
dozens of black singers, including 
Estes and Bumbry. The produc- 
tion is costing $800,000. Ail 16 
performances this season are sold 

OUL 




Mary Leakey Discovery?? 

A Sooth African antfnopoiogj# ; 
says that Mary Leakey mistakenly ; 
chiseled an “artificial bed" injQ 
newly-discovered ape-man fossil* 
footprints in 1977 while attempting , 
to excavate them because her eye-., 
sight was failing. This fed Leakey to 
believe she had uncovered prints 
three ape-men, while there were, 
only two, said RornH (Me, se* • 
nior researcher of anatomy at ifc.r: 
University of the Witwatosrand . 
Johannesburg. Clarke performed" . 
midi of the site excavation near:- 
Olduvai Gorge in Tanzania under; ! 
Mrs. Leakey's direction. The dec- . , 
laration Saturday produced hcaic&L 
dispute among 250 eariy-man spe?^. 
rialists from more than 10 conn-- 
tries celebrating the 60th aniriver-.- 
sary of the news that the first 
discovery of an African ape-nag - - 
bad been made by South African.- 
Raymond Dart, now 92. Michael 
Day, professor of anatomy at St •' 
Thomas's Hospital, London, called - 
Clark’s charges “outrageous." Lea- \ 
key. now 71. belongs to the Kenyan . 
family of archaeologists and an;", 
thropologists who contributed" 
much of present knowledge of ho- . li- 
man origins in eastern Africa. 

□ 





'urj 

lnfcf' 


K:r> 


t* ■ . . 


Elizabeth Taylor says she took 
sleeping pills two at a time for 35 “ 
years ana mixed the painkiller Per? 
cod an with alcohol Wore family ~ 
and friends finally persuaded her 
enter a rehabilitation program* r-' 
Taylor also told The New York 7 - 
Tunes that she has decided to break-' 
off her engagement to Deanfe:- 
Stem, who would have become her “ 
eighth husband. Taylor spent sev- 
en weeks in the Berty Ford Center; 
a drug and alcohol rehabiliiatioQ 
facility near Palm Springs, Califor- 
nia, laylor. 52, said she entered the ' 
center after members of her famly 
and actor Rodcfy McDowafl visited 
her in a hospital. “Then they sat 
down and each read from papea/- 
they had prepared, each saying 
they loved me, each describing mo- 
dems they'd witnessed of my debil- - 
itation, and each saying that if I 
kept on the way 1 was with drags, I - 
would die." she said. 

□ 


j/is&sfc ■ 

■- 


nfffisr l L--- 


* * 

u*n 


U. S. Ambassador to Aoflria 
Helene von Dram, 46, and Peter ’. 
Grader, 37, owner of Vienna's^' 
Hotel Sacher, were married Satin-**-' 
day in Kitzbilbd, the Tyrolean 
winter resortlt was her fourth mar- 
riage, his second. 


ANNOUNCEMENTS 


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6oujgrry«w.7OT6 Paris. 


AICOHOUC5 ANONYMOUS n 

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269286. Rome 39 48 91 


SUN. N.Y. TIMES - Eurwef dotary. 
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Write Keyset, 


MOVING 


CONTMEX jrew Opera): Crete 


ler» to 300 aha worldwide - Air/Sea. 
OH Chafe 281 18 81 Paris - On too 


MOVING 


ALLIED 


VAN LINES INTL 

OVa 1000 AGENTS 
M ILSJL - CANADA 
350 WOOD-WIDE 
flHF BJIMATB 

PARIS Drab. 

(01) 343 23 M 

FRANKFURT 

(069) 250066 

MUNCH 

(089) 142244 

LONDON la f l 

(01) 953 3636 

CAIRO Aflfad Van U 

(20-2) 712901 

USA ABed Vai Line* Infl Crep 
(0101) 312-681-8100 


Mevtop 

i. laCs. 

IMJS. 


toll 


DEMEXPORT 

PARK • LYON • MARSBUE 
UUE • MCE 

Ml moving by spededst from major 

alia in France to at ones m the world. 


Td bee From France 16 JOQ 24 10 82 


■ EfflMAl 


REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


1 PA WS. FROM CAWK . For lovers 
of authentic*/, fantastic property. 


lifeh century ad^ceifing^receg- 


ton fireplace, 4 be d rooms. 4 

rooms, staff quotes, swaming poaL 


pocWwuse. Fabulous pewit - 7000 
ram.. F4 .200,000. SSL 47. La Crown 
OodOO CANNES. Td; (93) 38 19 19. 


CAMttS amSEITE, w» Csrton & 
brack 2 -bedroom outturn* 70 
ram FB65,00a SSL dr to Crotoette 
oSobCANN-S. (rf)3819 19. 


INTERNATIONAL CLASSIFIED 


REAL ESTATE 
FOR SALE 


GERMANY 


REAL ESTATE INVESTMENT 
NEXT TO COLOGNE/ BOFfl* 


Well done corah u Okl 
house with 2d urats - 1 to 3 bedrooms 


mntoct: 

LUEKEN A DUWE ICG 
Docfcenfaedener Mr. 30 
D-2000 Hamburg 55 
1st Web Germany 
636 27 


JO] 4086 36 
Tefal 2173509 UJP D 


MONACO 


MONIE CARLO 


Frindpdily of Monaco 

SBJUNG VfRY EXCEPTIONAL 
APARTMENT 


harbor, 180 sqm ! 
reception, 3 


Urato. 


8J*. 54 

MC 98001 MONACO CHXX 


Tefc ^50 66 84 


: 469477 


REAL ESTATE 
FOR SALE 

REAL ESTATE 
FOR SALE 

REAL ESTATE 
FOR SALE 

PARIS & SUBURBS 

PARIS ft SUBURBS 

SWITZERLAiYD 

17fc on AVE MB. norm, 

ARC DE TRIOMPHE 

U 5th floor on fadcony, wew ; sutray, 
- owner soles 5 rooms, aft cornorts cm 
8 oho tdw over smofl aprrtnenl. Office 
L hours 627 91 41 or Hrara 763 33 13 

71R RUE DU BAC Nrar Sraw. Ligc 
Eying + bocfcocro, 70 vim. v«y 
brifftr. Dorraray 634 93 31 

[n dw dmmg fliouRtdn rood of 

LEYSIN: 

RESIDENa LES FRB«S 

Overioateng a iptendd Afane paxvo- 
n«L X ran. horn MonCreux and Lrte 
Genera by cm. 

- you can own quaCty resxfaiOB 
retfi indoor swrrnminQ pool rad 
fitness focities in an tacti 
enwonireit far tenure and ^orts 

up to But mortgagta. 

Piece# contort. 

Reorirara Ira Rims 1854 Leydn 
SWITZMAND 

Tefc (025) 34 1 1 55 TU: Make 26629 CH 



AGBICE ETOILE 

380 26 08- 

WGH CLASS PBJ-A-THOK 
7TH BOORDOMMAS 
3 rooms. FI 400.000 
_ NEURIT. 2 ROCMuTlhrSlXMKL 


LAKE GBCVA md 
MOUNTAW RKORTS 

Aportmoits n Montrea on Idn 
Contro. Aha avrtete in fmwra 
mritoikai resorts: VOars. Verbier. Us 
Dtebtereh, Chateau D'Oex near 
Gstaad. Uyvn. Chttirts avadefate. Ex- 

““sasfflr 

bberd moteaga at (M% iitfsresL 

A*r Mon Repot 2fe*fSlB^auianne, 
Swtariand. Tefc Oil 22 35 1Z 
Telex: 25 185 MaiS CH. 

The Tenacra of Centre Coif end 
Country Oufa - Lovefy towrftoutta 
avtaabte <d dtrachve prices 

16th, P04THOUSE 

Lurtfaous dupfar. 300 sqre. 
HRRACES, Mads roam, periling. 
Natl prica. 

FRANK ARlHlR 562 01 69 

REAL ESTATE 
TO RENT/SHARE 

| AGB4CE DE L’ETOILE 

REAL STATE AGENT 

380 26 08 

GREAT BRITAIN 

ICPBION. For the best fumehed flats 
rad houses. Craeit the Speoakstv 
Ptifcs. Kay and lewis. Tet London 
352 61 11 . Tefat 27846 BESIDE G. 



| Internationa] Business Message Center | 


MONTE CARLO 
Prindpdity of Monaco 

Center near Casino, high dess buScSna 
seKrg lovely Z-room, 1 10 sqm passibu- 

&E Sfe AGENGE OffHtMEDtA 

U p 54 

MC 98001 MONACO CBJEX 


Tefc^93^SO 66 84 


469477 


Canadian Gab. 

Lighter than Scotch, smoother 
than Bourbon. 


The smooth and distinctive taste of 
Canadian Club is appreciated all over 
the world. Enfoy Canadian Club, neat 
on the rocks or mixed to your taste. 


Since 1658. 



ATTENTION EXECUTIVES 
PubGthyovrk 
siAeM 


rtssm 

AeieRM 


of a rattan rarafa rt worU- 
wrdm. watt of who m oe fa 


road A Art fmi m x m /fM 
613S9SI Aefara IOojtL, «v 
mat wo can telex you 
mrfysirmHBeid 
r wiwmi 48 hoars. The 
US.S9A0 or load 
You 


BUSINESS 

OITORTUNmES 


INVESTMENT PARTNERS 
NEEDED 


located near 


• Select land.. 

P m epwwld/ 

• Option to purchase td well bebw 
current luomef wkw 

• Addtional finanai partners requred 
to complete purchase and tale tide 
to h^My vaaidsle tad 


• Short hoidng period before vary 
profitable mJ* [prafactad at ICO% 


sAjbI to de v e lo pe r iita e rt e d « 
bulcing ie te r mjiu mJ tourer 


• hm&nenr range i 

usojoaaKr 


tfrraaan, harts, shopping am* 
I K S A OOO to 


EWBOAMBUCAN 
NVBTOBff C08POHATWN 
100 NL Biscoyne Bvd 

Tetox: 903Z& SJRO MA. 


MMMRAnONIO USA 

MADE EASY 

Attorney 6 Heoto abt oeu vaas & per. 
manert nsKtonce. to set up USA 
toianesses a bcote eom m er c i ij . nduv 
tnd & residential red edeto. ftir free 
brodrae wnrt Dad Knan. 1201 
Dave Sr. Sto 600. Newport Bead). CA 
92640 USA. (H4J W Bfa 


1HE DOW SOON AT 16007 Kgh 
profits MiOt U-5. dim now. Choose 
yewndfsterw on ife NTS „ 
to tuy [or seQ d die next weds frao 


nmeful SMorafera 
■mJw «1-2 yeerv ScRpto aganst 


US$5 Ccrcuttta arid Agenw'LkL 
=fme»,CK«lZsia.Tet 


dranwai wii^e in 
St. Moris 2/4 . 2/12 Pot ceporiu 
menfa phone our office in Zug. 


COUA7BIAL 

We con prode prime txsri notf i ait io n 
<» cop* lord fat arbsroge H uim cI W . 
Sec onaole lees, rronp: servee. 

I* ndon based. Telex S951622. 

Te. Dl-315 5492 * 01-930 9726 


CB4EVA — CXPBUB4CBI MjiAn. 
Swiss women laPitR er her dis- 
awtsn offers if lepneria 
hon <x pcrnie-papi Tieae wile to. 
Coher IA1I50!e. PutLeK3.LH !J11 

tiertorts ' 


BUSINESS 

OPPORTUNITIES 


START 


OWNBU5BCSS 


wrih £ urlK. GOmOiNoKtnq 

iiwatoed. Ready retoi auttots suppled 


for extang arar produd. 
Paromoun*. 144 Gloucester Place. 
Umdan NW1. TU 295441 ftaaraunt 


HDUOAIY BANXMG on tage eol- 
loterofced tans. The only rammer- 
ad bonk with a rrarewMive office 
in London speaatang in this service. 
Arab Overseas Bank & Tam IW.L} 
Lta, 28 Block Prmee Ed. Umdon SE1 
Tei 735 8171 


IMMIGRATION/ MVE5TMHff Can- 
ada, quoffiod investors oriy. Write 
far more infomtaon: Sefr & Abo 


Canada KIC 1S9. 
rior.AtoSAF 


F 41Sup» 


BUSINESS SERVICES 


m 

BEAUTIFUL PEOPLE 

UNUAUTHJ INC 
UJSJk. A WORUnUDE 


A c omplete social B> busness service 


providn g a tagu e cofledun of 

il* Jfejtii & 


n*jfc4rttud 

Bxfrriduab far: 


F«JxgcvCcx jnerc 


rt-P*w»Mtas 


Convertta-Trade Show***® Pcvties 

fwvments-Meionm 
Soacti Gempcnant-Tour gutas. etc. 


212-765-7793 
_ 212-765-7794 

330 W. 56th St.. N.Y.C 10019 
Srance ftaresentatives 
Needed Worldwide. 


ONSHORE 
UMIT® COMPANY 
BANKS 

RRSWANCE COMPAPSS 


Worldwide 

M o m we t A taw i ntiuiion 
Boor gq p er r osm a 
faodyKtapr Speed 


lORRXJN REPRESENTATIVE 


ASTON COMPANY FORMATIONS 

Dept HI, 


8 Victorias 


. , - - 26591 

Tebi earn sptva g 


IWfflWH FASWON MODH, 

27. PR/PA wwienee, Kbory of Art 


YOUR Oma H NEW YORK, fifth 
Ave. address end > or ctoenes os your 
USA office. Med. phone tnSs received 
& forwreded. New Trek Mat Senna 
210 F»h Aw. NYC 10Q10 


PTOWKIAnON SPfcdAUST, an 
you to van aeon m 
fiwefe. Pm teS. 


A2PC LYON ENGUSH^SMAN 

•roPiiafton-se-irOe ,io «» f 


TAX SERVICES 


FRH4CH AND USA TAX ADVICE S 
returns. Peris based US CPA 3S9 63 01 


COMMERCIAL 

PREMISES 


PRINCIPALITY 
OF MONACO 

To buy/rent 
SHOPS, BU53NESSS 
or OFBCH, Cortlod: 

AGBH 


26 bis, Bd Prmcasse ChartoHe 
MONTE— OSLO — MC 98000 
MONACO TeLJ93) 50 66 00 
(Ext 151 or 152) Tfc 479 417 MC 


FINANCIAL 

INVESTMENTS 


TAX HAVB4 BAS® BANK, accus- 
tomed to handfag maters m confi- 
dence sorts terra depoiis wrtudi 
wertd bear rteresr of up to 14X per 
annum. Europeai Overseas Bart 
Teh 


7358171. Tdax29fi55 ISP G 


OFFICE SERVICES 


YOUR BEST SWI5S 
BUSINESS BASE 
IN ZURICH 

MUY INTEGRATED 
BbSgvBS SSMCB 
_ ^OSE TO HNANQAL CB^Tffi 
fanished Offices / Confe re n ce Rooms 
T ^5 n S / ^ ^ Servicej 

Word_ ProcesB n g / Tra nslation 

fflaSSj^NAt OfROE 


, . 2? O+8001 Zundi 

Tet 01 / ZI46MI, Tbt 812656 INOF 


MEM BB WORLD-WIDE 
■ BUS9EK CENTRES ■ 


ZURICH-ZLHUCH-ZURICH 

RAHJJOfSTRASSE 52 
TOUR Oma AWAY FROM HOME 

• Offig/Mmoggiwnt S ervices 

^ CompcFry FontJotiofTSB 

• How to da Busnea nJat 

. . from swrrzsubc 

nufkiAv linflfai Gamut} Cora 

B**oferoae &J P+flffi SS. 
Tefe 01/211 92 i7. Tbu 813 062 


your London ohke 

OCSHAM EXECUTIVE CBITRE 
Camuelenwe range of unites 
150 Rraenr Srrert. londan W1 
Tel: |0lf 439 6188 Tbu 361426 


REAL ESTATE 
TO RENT/SHARE 


MONACO 


house, nnht in the 
Come and Vod. Le M an ta ye 


98000 - Monte Corio. 
5063X17. H» 470 022 


Tef 


PARIS AREA FURNISHED 


AT HOME IN PARIS 

PARIS PROMO 


25 Ave Hod* 
75008 Paris 


74 CHAMPS-ELYSEES 8th 


Stucfei 2 ar 3raom ap artment. 
One month ar more. 

IE CLAfiDGE 359 67 97. 


OID MONTMARTRE very charming. 
Bring room with fireplace, bedroom. 


fijb ^et^ jpped- F5.400/marrth. Tet 


DEAL FOR SHORTTERM STAY. Paris 
studios & 2 rooms, decorated. Corrtoa 
Sorefint 80 rue Universtfe, fans 7th. 
Tet (11 544 39 40 


MONTMA RTRE Beautiful 1QQ sr^m. 2 
bedrooms, double Erirra dining, aS 
comforts. F6.700 ml. No ogert. TeL 
H 962.91 36 after 6 pjn. 


REAL ESTATE 
TO RENT/SHARE 

PARIS AREA FURNISHED 

MUETTE FACING BOfi. rtgh dass 
building, lovely 80 scjjh. apartment, 
recealian 1 bedroom, oil comforts. 
FlOjOQQ. Tet 577 90-67. 





1«H VICTOR HUGO. 50 rqjn. du- 
pfar. Victaoan funisfenas, much char- 
acter. 3-4 monifa. Tel: 440 81 41. 

7fi» MVAUDES. lovely 6vwg + bed- 
room, balconies, quiet, wwy, peyfec- 
Hon condition. ft/JOO: TE) 37 99 

li‘ i'TTiMI 

8TH. Urge luxurious apartmerts. short 
cefa long term. 720 94 95. 

TROCAfiERO. luxurious & sunny 2 
rooms. Also greoge far rare. 647 &82 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA UNFURNISHED 


letHUY. Very chmnta irvan, driing. 
study, bsrtoon, firerfoces. Dofcony. 


New dual & transport. FlOiXXL Td: 
720379* 


IMc VICTOR MIGOL Very lovely 
tape double Kvmg. 3 bedrooms, 
(MArpel fachen, perfect Cure W un, 
on gardra. F15JD00; 720 37 99 


FAST EXECUTIVE HOMEFMUNG- 
Rars 8. suburbs, lerris/solas 551 09 45 


USA 


GIAS5 SUPm IIM, with swimning & 
kitchen, bay crea on 0 Canrao Bm, 
25 n«n from SJ. Airpcrt, next to 
Stanford U. aid. Sfasn Vrtey. $50 
per day. USA. Tk 290206 WM UR 
ar Hang Kanp Tbu 30823 WIMGHX 


REAL ESTATE 
WANTED/EXCHANGE 


AMBSCAN EXECUTIVE is taking far 
unfurnished apartment 120 to 150 
■MIL, 2/3 beaooms, Paris I6 Hl 7ft, 
BA 17th, & Ne^y. Atataie now or 
raon. Pore 763 82 70 


US FAMILY OF 4, seeks 3 bedroom 
furnished Art Pans or subirtx. Now 
tiB June. Tet Pail 797 31 99 


PARIS. Redradioas 20j000f le m> ur- 
gent. 50 6 80m' grande 
-■ “-88 


EMPLOYMENT 


EXEOmVES AVAILABLE 


QMRAL MANAG81. 42. raft map 
US. atrportfian tab far newanta 
■rant. Write Wend, P.O. Baxlffil 
P7730 Kondortt, West Gatwany. 


GENEKALFOSmONS 

AVAILABLE 


AGENTS WANTS) 


Kfih aomraon pad. Latest stateof- 
ftenrt securify products. 

• fright vision 

• Survedtace 

• Ai*-terroriim 

• Cauntar-inteBgim 

• Mary, many more. 

Protected area wobble to tpoffad 
agents who wish to rep this estariw 
product fine, of world famous seartfy 
systems. Contact M. Hmf 

CCS in Pens; 2 97 I 


MAJOR AMBSCAN BROKERAGE 

house in Pnis swria person for sflere- f, 
tend/deried pastel la ostat ao y. 
route eMaitivcL Must be bsfagual ‘ 
Engish/Frendi end hove secretarid 
tnraing. CV. and sdory requtarab • 
to Be* 1733, HenAd Tribsira, 92521 
NeuSly Cede*, France 


PAGE 3 
FOR MORE 
CLASSIFIEDS 


International Secretarial Positions 


SECRETARIAL 
POSITIONS AVAILABLE 


I SECRETARIES AVAILABLE 


S 3 P 

TEMPORARY AGENCY No. 1 
FOR WORD PROCESSING 
b looking for 

BILINGUAL SECRETARIES 

EN CUSH - FRENCH 
shortnCTid in both Icnguoges 


I on word processing modsnes 
{IBM. Wong and other brands) 
Heme canted-. 742 11 50 
28 rue Cai/matai Parts 9. 


URGBfT EXPORT DIVISION 
OF US MULTINATIONAL 
tecoteci 

SAINT OUBKT1N BfYVBMES 
seeks 


BILINGUAL 

SECRETARY 

fngHvFrendi) 

faone P) 058 98 56 


WffillTVr SSIS far AMB0CAN 
FRMS in PAB& 


English. Belgian Dutch or German 
tearehrfa, knowfata of Frendi re- 
fagfeh sfar^Tond. __Winguol 
WOTB. WMf Of 

5, H r 75U 


727 


r phone 138 Avenue 
16 Pees, France. TeL 


»«aUAI. EXECUTIVE Secrefcry & 
personal o atista t requHed For mt l 
wgencohon in Peril, written 8> spo- 
ken frendi & Engioh rnc c rtmil. 


KnowfatoeofBMPCo +. Afafas 
papers rfnal BC national Handwrf 


to" tetter resume & srticry _rflqnc8- 


m« to Bra 1729, Nwrtd Triune, 
92521 NeuJy Cerfex, frqnoe. 


PARIS OFPKI OF US COMPANY 


nradi bifengugl secretary part-rkre ro 


j ... yprtft fSna. 

wad-procepng sldfc requred. Op- 
portwvfies far pb dfivwanent for 
*e nghr ran ftfafe. F48 JOO - FM^OO 

Cedex. France 7 


BRnT FRANCE 

na meiBfate opening 

Far experienced 

BILINGUAL SECRETARIES 


EngUi ond frendi mother tongue 

Cdi Paris 322 7696. 


I TOUMA R-McCABE SEXVICB. Y w 
■ctabte Swiss base, domatertete- 
pherw/teha.'aiail P.O Bra 561, Ave 
de fa Ga>e, I®1 Lanarre. Swrtaer- 
'and.021.-348218. i* 7STU MCXOU 


IMPETUS ■ ZURICH • 252 76 21. 


CUUURAL CkHIbc needs young b* 
secretay, Engfah morher 
ton^ie. pereiraete posteoo, workma 
fftows essential. Send CV. Ms. Bohan 
/urerem Lamer. 2*1 8d SespaL 
75014 Pons 


PUBUSHBl offering Vobte job Seoe 
with same previous atpenence. 
?ngteb o> French mother icmgue 
We«ll> rhrec half dors am o> pm 
Coil Pans 700 45 45 Ire otutomment 


RAtCSTAD 

BIUNCUAl AGENCY Ts#y 


Tempcrare Office 
Paris: 758 12 40 lUwl 


BIUNGUAL SECRETARY (English 
mother tan^re). 6 years expertace 
seeks part-hme employment either in 
P orn or South suburbs. Wnte Box 
1723, Herald Tribune, 92521 Neirty 
Cede*. France 


eccaiflVT TRKJNGUAL Secretary 
Ar^c/ Enjfah/ frendi, scefa position 
as “A secrekryto nta level manager 
Bralr®, neredd Trfaune, 
92521 NeUBy Cedra, franca. 


8CECUTIVE SECRETARY, frendi /fag. 
hhftorthcmd/typD}. teles srafapon- 
nme pb/reptocemert. 651 95 13 fans 


SECRETARIES AVAILABLE 


TOP Ifva BUKSUAL executive sec 
rettxy seeks interesting & dxdenging 
rob in Pari. Tet 578-flfe 


SECRETARIES 

OVERSEAS 


Throughout the trarid we ntroduce tfi- 
erfc ta fta-doa secretaries whose fin- 
gwtic and seaetarid dais hare bean 
ttniou^vy tested, tfyouaretnen- 
gtoyr, con tact us for fte best advice. 
Secretaries • ctAuttoarnaigeoniftier- 
view fa Londoa 

IrOe r nut io n rt Secretaries 
174 New Bond S»eeh London W) 
Tefc 01-491 #100 

tettatment Camtets. 


SECRETARIES AVAILABLE 


EfflGKNT TOOK BRJNGUAU 
Frendi personal asdstert | 

10 yecn erne 

Mrrnan, . . 

an Mfltil flpo® 1 
mreer prospects. Free now. Switt - 
offers only. Gdl Paris 530 06 74 



franraJPA, fatarproWf, knowi- 
edat Garmon. « 
sorts chedeapn g | 


GBtMAN BUNGtlAL EXECUTIVE 


■acretvy seeks oppointm e nt n Cote 
d'Azur. Please i " ' “ ~ 


write ui 


man to Bra 2113. IKT. 

15, D6000 frankfeirt/Afah. 


CR - THECBBMEDELA CIEMEtan- 
prern help prapte recruit binguol or 
frnfish mother tongue watere 
Port>58 B2 30 


BtFBKNCBI EN0U5H TY«T uda 
occut fa nd wtrfc. Knows Eno MOrtfe 
processor. Tel Paris 227 040S. 




American Radio Station located in Munich 
has an opening for an 


experienced 

Secretary 


with complete fluency in English and good 
knowledge of the Hungarian language. 


Please submit your application to: 


RFE/RL Inc., Personalabteilung 
Oettingenstr. 67, 8000 Munchen 22 


Printed by gdz in Zurich (Switzerland) ■ 



After 

OnTechaolfi-'' *' 


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jeaB^ c r“ k T ’•-”•• • 
owaraEff--..-; . - 

liar naiK^ ‘ 

wgolsi£d~i., ; 

ma? resn^"-- 

Wink -:v • 
eider bec - ' 



GofflefeljX'i.' 


Sassir- 


ojy. IVea Ettl: 

m avpz~: c.- : 
efittto. 

fix 

respond lo L:>r:z : 
andloWnis r/.i 
watered 6^ i. . 
paekaiiKir-C" 
ol US. net:;;: “ 

TbcWeLilr.-- 

,'dyttiflidi 

t'iy silf: i: .. ' 
wngrastsfe 
Eqwi Aifcr_—_ - . 

parried thi Ife - - 
beja 
BRcauurdt 
And tteCvZT'.-- 
new rjkt; 

^ pubUshi: :z-- : ' 
rated iwin^r ■ 
‘kakre -T.'. . 

non Ittcajp .. 


“all ilkfffe r r. 






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