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DAWAJ! 16 

■STL 


The Global Newspaper 
Edited in Paris 
Printed Simultaneously - 
in Paris, London, Zurich^^ 
Hone Kong, Singapodf 
The Hague and MarsS^a^ 

WEATHER DATA ASKAR ON PAGE U 

No* 31,700 

Cypriots 
Disagree 
At Talks 

. Denktash Says 
He May Retract 
Concessions 


By An dr iana lerodiaconou 

fniernaikutal tier aid Tribune 

UNITED NATIONS, New 
Yoric — Rauf Denktash, the Turk- 
ish Cypriot leader, said Sunday 
that he would withdraw conces- 
sions that be has made to achieve a 
Cyprus settlement and go back to 
negotiating “from square one" un- 
less President Spyros Kyprianou 
agreed to sign a prepared draft doc- 
ument. 

Mr. Denktash delivered his 
statement at the start of a last- 
minute attempt on the fourth day 
of talks in New York, by the Unit- 
ed Nations Secretary-General, Ja- 
vier Pfcrez. de Cuellar, to avert a 
coQapse of a summit meeting with 
Mr. Kyprianou. 

The two Cypriot leaders started 
their lust face-to-face meeting 
since 1979 on Thursday to negoti- 
ate the establishment of federal 


key invaded the north of Cyprus in 
1974 after a coup was instigated by 
the Greek military junta of the tim e 
against the government of Arefa- 
bishop Makarios. 

According to officials close to 
the talks, the secretary-genera] was 
trying to persuade the two sides to 
adjourn the meeting, and call a sec- 
ond round at a later date, possibly 
in March. But Mr. Denktash’s 
statement placed in doubt whether 
the talks could be resumed on the 
same basis. 

“A future meeting will have to be 
a new round for renegotiating ev- 
erything from square one,*' Mr. 
Denktash said on his way to a final 
session of bargaining Mr. Pfcrez de 
CufcHar was scheduled to leave for 
Europe late Sunday afternoon, set- 
ting an effective deadline on the 
talks. 

Mr. Kyprianou agreed to attend 
the meeting with Mr. Denktash last 
November after theTwiisfrCypri- 
ot leader dropped a demand for an 
alternating Greek Cypriot and 
Turkish Cypriot presidency in a 
future federal Cyprus republic. 

He also offered to give up about 
8 percent of the 37 percent of Cyp- 
riot territory occupied by Turkish 
troops for 10 years, his best territo- 
rial offer so far to the Greek Cypri- 
ots. 

The concessions were under- 
stood to have been urged by Presi- 
dent Ronald Reagan through An- 
kara. The United States is actively 
involved in the present UN peace 
effort for Cyprus, in the hope of 
easing tendons between Greece 
and Turkey. Problems between the 
two are disrupt in g the North At- 

(CoBtmaed mi Page 2, Col 3) 





Published With Hie New York Times and The Washington Post 


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ZURICH, MONDAY, JANUARY 21, 1985 



ReaunUned he 


Presklent Reagan took the oath of office Sunday for his 
second term, in a ceremony at the White House. Chief 


Justice Warren E. Burger of the Supreme Court adminis- 
tered the oath as Nancy Reagan held the Bible. 


Reagan, Arms Team Will Meet to Review Options 


By Bernard Gwertzman 

New York Tima Service 

WASHINGTON — President 
Ronald Reagan, in the first sub- 
stantive meeting of his new term, 
will review arms control positions 
Tuesday morning with his new 
team of negotiators, a White House 
official said. 

The meeting is meant to drama- 
tize the president's co mmitme nt to 
progress in aims control negotia- 
tions in his second four years in 
office, the official said Saturday. 

He said Mr. Reagan has asked 
Us three new negotiators — Max 
M. Kampehnan. former Senator 
John G. Tower, and Maynard W. 
Glitman, who were appointed Fri- 
day — to attend a meeting with 
Secretary of ; State ; George P. 
Shultz; Defense Secretary Caspar 
W. Weinberger, Robert G McFar- 
lane, the White House national se- 
curity adviser; and other top aides. 

Mr. Kampdman, the head of the 
negotiating team, is co-author of an 
article that will appear in The New 
York Times Magazine next Sunday 
that expresses strong doubts that a 
breakthrough in arms control talks 
is possible in the a ear future. 

Mr. Kampdman is a supporter 
of the president's research program 
into missile defense, known by the 
administration as the Strategic De- 
fense Initiative. 

The article expresses views that 
are opposed by the Soviet Union, 
which has argued that the Reagan 
space defense initiative will cause 



XeuortAJPI 

John G. Tower 


further instability. The Russians 
have said that unless it is stopped, 
meaningful arms control agree- 
ments are impossible. 

In the article. the authors say 
that they favor seeking arms con- 
trol accords with the Russians but 
that the talks are unlikely to pro- 
duce many results. The article was 
prepared by Mr. Kampdman. 
Zbigniew Bnennslri. national secu- 
rity adviser to President Jimmy 
Carter, and Robert Jastrow, a 
Dartmouth University professor. 

Mr. Kampehnan, a lawyer who 
led the American delegation to 
East- West negotiations in Madrid 


Max M. Kampehnan 

that produced a Stockholm confer- 
ence on security measures in Eu- 
rope, was Mr. Shultz's choice for 
thejob, a State Department official 
said. 

The magazine artide says Soviet 
compliance with arms coatrol ac- 
cords is “sufficiently troubling to 
wan ant skeptidsm regarding the 
likelihood of implementing any 
such complex and far-reaching 
agreement." 

“Finally," it says, “a comprehen- 
sive and genuinely verifiable agree- 
ment. limiting both qualitatively 
and quantitatively the respective 
strategic forces, on earth and in 


space, will require a much more 
felicitous political climate than cur- 
rently exists. 

“Negotiations may lead to such 
improvement, but in the setting of 
intense and profound geopolitical 
rivalry, how realistic is it to expect 
in the near future accommodation 
sufficient to generate the political 
will essential for a genuine break- 
through in arms control negotia- 
tions? 

“The mere mentions of Afghani- 
stan. Nicaragua, Sakharov and So- 
viet violations of the humanitarian 
provisions of the Helsinki Final 
Act dramatize the depths of the 
problem," the article says. 

"There may be no direct negoti- 
ating linkage between these acts of 
•fk«^~misci<ndiuri and &-jns.-cQn'. 
trot," it adds, “but thdr political 
interaction is evident." 

One of the factors in persuading 
Mr. Weinberger and the presidenl 
to support Mr. Kampehnan, a 
White House official said, was Mr. 
Kampelman’s support for Mr. Rea- 
gan’s views on the military. 

Mr. Kampdman, a Democrat, 
has supported a strong American 
military, and was co-founder of the 
Committee on the Present Danger, 
which was formed in opposition to 
the defense views of many liberal 
Democrats. 

The White House official said 
the administration was aware that 
Mr. Kampehnan had written the 
artide with Mr. BrzezLnski and Mr. 

(Continued on Page 2, CoL 1) 


ESTABLISHED 1887 


Re 

2d 




; Inaugurated; 
nny Today 


the inauguration fell on a Sunday. 
It was the first oath-taking in die 
White House since Dwight D. Ei~ 


a quiet White House cerembny fa . hv 

with family and friends, the pro- Mr Rea 6 an s oal ^ lalcen by 

lude to formal ceremonies Monday 

that will strike a theme of "Araeri- The outlook for the Reagan ad- 
can renewal." ministration's- foreign policy 

With the capital locked in a mass daring the second term. Page 7. 
of frigid air, Mr. Reagan took the 


Rv David JShImA are called bv my name, shall the inauguration fell on a Sunday. 

L tlnpm re Se, C f — sS ^™3>le themselves, and era,, and It was The first oalh-taltiog in 
WA< 5 HiNr.TON se£ ^ m y fa«- and lum from their White House since Dwight D. &- 

Ronald Rescan took the oarh of wicked w *y* then will I hear from senhower was sworn in for a second 

and wil! forgiven sin. in 1957^ when U* date also 

a quiet While House ttrembuy nnd wjl toi the tod fell on Sunday. 

with family and friends, the prc- M Reag * alh ' - After the ceremony, Mr. Reagan 

lude to formal ceremonies Monday was hosi at a buffet luncheon re- 

that will strike a theme of "Araeri- The outlook for the Reagan ad- cepiion few about 180 guests in the 

can renewal." ministration's- foreign policy state Dining Room. 

Wth the capital locked in a mass during the second term Page 7. Sunday , Mr. Reagan. Mr. 

of frigid air, Mr. Reagan took the ... Bush and their wives attended a 

oatii m the warm elegance of the each of the nation s 40 chie execu- ^ Washington 

White House, standing at the foot uves. comes Trora Article II. Sec- l0 muon's 

of the grand staircase before 96 u<m 1 of the Oinsutut.on: ^ ^ Reverend 

dignitaries and family members, “I. Ronald Reagan, do solemnly R;ih/ Graham nrp«iHeH 


of the grand staircase before 96 
dignitaries and family members. 


and a national television audience, swear that I will faithfully execute 
Mr. Reagan, the nation's oldest the office of presidenl of the Unii- 


Caihedral to mark the nation's 
30th inauguration. The Reverend 
Billy Graham presided. 


Later in the day. in a ceremony 
televised by satellite. Mr. Reagan 


president at 73, placed his left hand ed States, and will to the best of mv iaevw ~5J. d j sawuiifc Mr - Kragan 
on his mother’s Bible, held by his ability, preserve, protect and de- was to rhp a to determine who 
wife, Nancy, and look the same fend the Constitution of the United would remve the kickoff of Super 
oath that w£ first sworn by Geotge Stares" ^ ^ championship gaune 

Washington. The oath was admin- As Mr, Reagan finished. Chief T American football being held tn 


istered by the chief justice of the Justice Burger said. “Congratula- Alio, California. 


United States, Warren E Burger. 

Vice President George Bush was 
sworn in a few minutes before by 
Potter Stewart, a retired associate 
justice of the Supreme Court. 

Then, without overcoats, the " The swearing marked the fifth low zero Centigrade), at times 
president and vice presidenl time in U.S. history that the day pushed to the equivalent of 35 be- 
walked into subfreezing tempera- mandated by the Constitution for low by high winds, 
lures on the north portico of the 
White House for a brief picture- 

LS Sst& For the Next 4 Years , 

second term, reserving his main ^ 

message for the speech he is to o _ • m . f • A I 1 ■ 

bhft tests Lie Ahead 

whom will have to pass through . , mI 

metal detectors as pan of the un- By Hedrick Smith Speaker Thomas P.CyNetllJr^ said 

usually stringent security measures New York Times Semee hi’ a comment echoed by others, 

surrounding the inauguration, are WASHINGTON — President domestIC ® de .' Mr - Rca ' 

expected for Monday's public in- R^aid ft raoan Wins his second ^ s 25 ^ cen -V CUt ^ 

augural ceremony. t.i« ut/h. mUtuu, buldup now 

The outgoing Whitt House chief r^uireuotomuDr uault on 

of staff. Jama A. Baker 3d, sud the S^t%ort^^<SH 

theme of Mr. Reagan s address n f hi<T^md more - 1111 0IL , e drfl ‘ 

would be “American renewal" The “ “ ^ __ d ats. many economists say, threawn 

chief While House spokesman. ^ ^ economic recovery that has 

trJsasfSfeft: ^«S RBS “‘ 


lions, sir." Forecasters were warning pa- 

The president and chief justice rad e- goers that Monday could be 
shook hands. Mr. Reagan turned to the coldest public inaugural in his- 
his wife and said, "I’m going to kiss tory. Sunday's temperature was 10 


you now," and he did. 


degrees Fahrenheit (12 degrees be- 


Speaker Thomas P. O’Neill Jr., said 
in' a comment echoed by others. 
On the domestic side, Mr. Rea- 


proposals would be left for Mr. . ^ L, .£ u his luck holds, then he’ll look 

Reagan's State of the Union ad- S^J 1 or bdow a yerag^ “ very wise. And if it doesn't. he*U 

.SSxtmoni£ My to turn on howhe hapdlesthe look perfectly awful " 

' Sunday's ceremony "af the White" uf ^ ncxl fodr - cars ’ A presidential historian, James 

House began as Mr. Reagan, Mr. In foreign policy, his aggressive MacGregor Bums of Williams Col- 
Bush and their wives descended the buildup erf the U.S. arsenal of stra- lege, said: "History tends to rate 

tegic weapons has set the stage to presidents on their first term, but 


marble staircase as the U.S. Marine regie weapons nas set tne stage w 
Orchestra played “Hail America." rest the Reagan thesis that success- 
Tbe invocation was delivered by fu * a™* comnrf can be achieved 
the Reverend Dano Mooraaw, of only when the United Stares bar- 


test the Reagan thesis that success- maybe this is a president who will 
ful arms control can be achieved be rated more on his second term." 


the Bel Air Presbyterian Church in gahta from a position of strength. 


California, who prayed for “a 
splendid new time of commitment 


Already Mr. Reagan has turned 
to that as his first priority, and 


“His place in history is up for 
grabs," Professor Bums said. "On 
the basis of his first term, he has 
been an ‘above-average’ to ‘good’ 


splendid new time of commitment to that as bis first priority, and “*n «* ‘ luuvc - avcia 6 c 10 swu 
and dedication" in Mr. Reagan's politicians say that achieving a ma- president- He could enter the pan- 
second term. jor arms agreement with the Soviet theon of presidents but he could 

Next, Mr. Bush took his oath as Union would secure him an impor- la ^f ^ real header and end up 
his wife, Barbara, held the Bible. tarn place in history but that failure dowT1 Calvin Coohdge, bdow 

Mr. Reagan was then sworn in as to strike an accord in his total of average. Reagan is living danger- 


bis wife held The New Indexed 
Bible, King James version, that be- 
longed to the president's mother, 
NeSie Reagan. 

The Bible was opened to 11 
Chronicles 7:14: "If my people. 


right years could be damaging. 

"If Reagan fails on arms control 
and the arms race goes on to new 
spirals and gets out of ctxitroL he'll 
pay a political price in history," 
Kirk O’DozmeU, counsel to House 


ously on both the great criteria, 
foreign policy and domestic eco- 
nomic policy.” 

Beyond the specific issues, some 
scholars and politicians question 
(Continued on Page 2, CoL 4) 


.-jar** "TT. 






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Dm**#. 


■ 

'y-^7r*0* 


Paris Recalls Aide After Indian Paper 


, .r • 




3 . 


,-tf 


..l '• ■- . r - 


•l» 


By Sanjoy Hazarika 

• New York Tima Service . 

NEW DELHI — The French 
Ministry of External Relations an- 
nounced Sunday that it has recalled 
to Paris a deputy military attachfc at 
its embassy hoe after an Indian 
newspaper reported that a senior 
French diplomat was involved in a 
spy ring that funneled secrets to the 
U.S. Central Intelligence Agency. 

The report by the Indian Express 
newspaper was the first specific ref- 
erence to the involvement of a for- 
eign intelligence agency in the case. 
A U.& Embassy official declined to 
comment on the alleged CIA con- 
nection, saying that tbe Reagan ad- 
ministration’s policy was not to 
speak on intelligence issues. 

Tbe cmly French deputy military 
attach* in New Delhi is Colonel 
Alain Bailey. He was still in the city 
oat Sunday night, but the Press 
Trust of India reported that he was 
leaving India immediately. 


When w<ked about the PTI re- 
port, CoLoad BoUcy said, “I have 
no comment." 

In an earlier telephone interview, 
he denied involvement in the al- 
leged espionage network. 

"1 have not been arrested, I have 
not even seen a policeman, I have 
not been asked to leave the country 
and I am not involved in any espio- 
nage," he said. 

The developments in the case 
follow India's plans to modernize 
its armed forces, a program that is 
to cost tuBions of dollars. India is 
seeking conventional arms and so- 
phisticated weapons systems from 
a number of sources, including the 
Soviet Union, Britain and France. 
The Soviet Union remains the 
country’s main arms supplier, but 
Lhere 'is growing competition 
among possible future suppliers. 

On Friday, Prime Minister Rajiv 
Gandhi announced the arrest or 
officials "in sensitive positions" 


INSIDE 

■ U.S. atomic reactor operators 
may have been ream ted by 

South Africa ti) work at a new 
nuclear plant Page 2 . 

■The heaMh of Konstantin U. 

Chernenko, the Soviet pres- 
idenL is agam a matter of spec- 
ulation. Page 2. 

■At least 2^)00 Ethiopian Jews 
are reported to have died m 
Sudan refugee camps Pages. 

■ T«n9 rebels blew up a train 

in Sri Lanka, lolling 33 persons 
and injuring 44. PageS 

BUSINESS/FINANCE Senator Robert J. Dote 

‘ savs U.S. Senate Repubb- 

■ Brananl Hanon ts said to be wffl not call for a 

on the way out as chairman tit wu* no 

Renault, the French automak- freeze on military spen- 
er. Page 9. ding. Page 3. 



who were "suspected to be indulg- 
ing in activities detrimental to the 
national interests." He did not say 
how many were involved, their 
identities or the charges against 
them. 

According to press reports, more 
than 20 people have been detained 
in the case, including an aide in Mr. 
Gandhi’s office. The aide was iden- 
tified as T.N. Kher. a personal sec- 
retary to one of Mr. Gandhi’s clos- 
est assistants. P.C. Alexander. Mr. 
Alexander resigned Saturday. 

The French statement in Paris 
did not name Colonel Bolley and 
declined comment on the alleged 
espionage network. 

The network involved at least 13 
Indians, including three in Lhe 
prime minis ter’s office, who have 
been arrested for allegedly selling 
military secrets and classified in- 
formation to a foreign power. That 
foreign power has not been identi- 
fied. 

Indian officials refused to com- 
ment Sunday on the Indian Ex- 
press report. Parliament resumes 
on Monday after a weekend break 
and opposition leaders are expect- 
ed to press the government for 
more information on the scandal 

A magistrate who ordered seven 
of the accused men into police cus- 
tody said Saturday that charges 
against them included passing on 
defense secrets and classified infor- 
mation relating to national security 
to unnamed foreign powers. 

Apart from the men in the prime 
minister's office, those who' have 
been identified by official sources 
and local news reports are S. San- 
karan, a clerk in the Indian presi- 
dent's press office: Jagdish 
Chander. a personal assistant to the 
secretary of defense production: 
J.M. Tiwari. a personal assistant to 
an official tn the Finance Ministry. 
Coomer Narain. a businessman 
and representative of a Bombay- 
based company called S-L.M. 
Maneklal. and Chaman Lai Char«- 
.«nj, a business associate. 



Tfce Ausootod hta 


President Francois Mitterrand, right, and Edgard Pisani, the nut milk offered by Nomela Medenoo, center, chief of the 
special French envoy to New Caledonia, tasting fresh coco- Mea-Bebara tribe, during Mr. Mitterrand’s 12- hour visit. 

Paris Seeks to Extend Noumea State of Emergency 


The Associated Press 

PARIS — President Frangois 
Mitterrand said Sunday that he 
would call a special session of the 
National Assembly in the next few 
days to adopt a law prolonging the 
state of emergency in New Caledo- 
nia. 

In a television address hours af- 
ter returning from a 12-hour visit to 
the French-administered Pacific is- 
lands. Mr. Mitterrand said he had 
jsked Prime Minister Laurent Fa- 
bius to take the necessary measures 
"to maintain the role and strategic 
presence of France in this region of 
the world." 

Am^ni! tho>e mcu.-ure.-. lit >.iid. 


were those concerning "the neces- 
sary installations for the re-en- 
foreemenl of the military base at 
Noumea." the capital. 

Edgard Pisani, the special envoy 
sent to New Caledonia to deal with 
the violence that arose after the 
Nov. 18 elections for a Territorial 
Assembly, declared a state of emer- 
gency Jan. 12 after riots erupted in 
Noumea to protest the killing of a 
white settler. 

Tension has been high on the 
island, where many native Melane- 
sians want independence from 
France and most of the white Euro- 
pean 'eiders. .Asians and Polyne- 
sian' want t.i rcnuiiri under French 


administration. Nineteen people 
have died in political violence in 
the past two months. 

Under French law, a state of 
emergency can be invoked for only 
12 days. An act of parliament is 
required to extend it 

■ Little Sign of Progress 

Richard Bernstein of Hie New 
York Times reported earlier from 
Noumea: 

There was little sign that Mr. 
Mitterrand’s talks with groups Tor 
and against independence had nar- 
rowed the differences between 
them. 

But Mr. Mitterrand 'aid in a 


statement at the airport before his 
departure: “As a result of these 
meetings the string that we feared 
might have broken has been mend- 
ed and the dialogue continues." 

Mr. Mitterrand indicated that a 
government-sponsored plan for a 
referendum on independence set 
for July would remain in place. He 
did not say. however, how the op- 
position of white European settlers 
to the referendum would be sur- 
mounted. 

The most conspicuous result of 
Mr. Mitterrand's visit may have 
been the occasion it offered to anti- 


U.S. Stops 
Talks With 
Nicaragua 


By Philip Taubman 

New York Times Service 

WASHINGTON — The United 
Slates has suspended negotiations 
with Nicaragua, according to se- 
nior Reagan administration offi- 
cials. They asserted that the Mana- 
gua government is not showing 
interest in serious exchanges. 

Tbe decision to suspend the 
talks, administration officials said 
Friday, ends any immediate hope 
for a diplomatic solution to ten- 
sions between the United States 
and Nicaragua. But, they said, the 
breakdown in talks does not mean 
the United States will turn to direct 
military pressure on Nicaragua. 

Although U.S. diplomats had re- 
cently told other Centra] and South 
American nations that the talks 
could eventually resume, adminis- 
tration officials said the chances 
were remote. 

Suspension of the talks, coupled 
with the announcement by the 
State Department on Friday that 
the Unicoi States would not partic- 
ipate in further proceedings before 
the International Court of Justice 
in The Hague regarding Nicara- 
guan charges of U.S. aggression, 
appeared to signal a hardening of 
administration policy toward the 
Sandinists. 

The U.S. officials said thai the 
UR. ambassador to Nicaragua, 
Hany E Bergold Jr., had told Nic- 
araguan leaders erf the decision 
Thursday. 

In Managua on Friday. Nicara- 
gua’s deputy foreign minister, Vic- 
tor Hugo Tinoco, confirmed the 
suspension of the talks and called 
•’absurd" the U.S. assertion that 
Nicaragua is not serious about ne- 
goiiutinns. 

He said that Nicaragua proposed 
on Wednesday that another negoti- 
ating session be held on Jan. 24. 

Mr. Tinoco accused the Reawn 


iCiHitiniwd un Pa«e 2, CnL 7i iContinued on Pap 2. Oil. 4} 



Page 2 


INTERNATIONAL HERALD TRIBUNE. MONDAY. JANUARY 21. 1985 


South Africa May Have Hired U.S. Atomic Reactor Operators 


WaahiJ^ £ tIanson Energy Department and State Department officiate 

WASHINGTON Ptal Se " ice confirmed that they were investigating whether the 

Power company i? a Africa’s state-owned UJS. citizens in South Africa broke the law, which 

many as Ar * * — - ■ sus P ectc ^ of having recruited as carries a maximum penalty of 10 years in prison and a 
may be . rcactor operators, who 510,000 fine. 

nuclear nonmr^r 11 ■ , ^ rica “ Eolation of U.S. Officiate said they are not certain whether the 
cute and “Ws, according to U.S. ofG- Americans were recruited directly by the South Afri- 

The cmernt^ 551011 ^ s 9 urccs - can Electricity Supply Commission, or whether the 

woAedf^rSr 01116 °* w * wni are thought to have South Africans violated laws by hiring them. 

Private U q ~7-,. . eniiessce Valley Authority and for A spokesman for the South African Embassy in 
Africa’s HewIS; c ap P arend y were hired by South Washington said that Ambassador Bernard us G. 
aectnaty Supply Commission. Fourie was out of town and that the embassy would 

riJ— r 1 * 1 Africa commission reportedly Dromised not have any comment. 

tax-free salaries as high as SIOOMO a vear frw Meanwhile, a State Department official sard: “We 
lysing, free Iransportaun^ South Africa and suar- don ' 1 know exacd y w* 131 311 of ^ Americans are 
antes of Monday-through-Friday dayshifts at anew doin & We dont **»* a r * on the numbers, but we are 
nuclear plant near Cape Tbwt^Sg lo a ta touch South African govemmenL We don’t 

^ustal source. ® emigres- ^ evidence of a willful violation of law. We 

U.S_ law TEatiir« 9 ,.,i„» - . , haven't made that determination yet.” 

of energy before anv 1 1 ^ U.S. authorities said they hope the operators will 

i.jt .P 3 uaofl ,»ny U.b. alizcn directlv or indirect- :r.. i « .i a •. l. 


A spokesman for the South African Embassy in 
ashington said that Ambassador Bernard us G. 
jurie was out of town and that the embassy would 


U.S_ law TEnnirpc 9 ,.,i„» - . , haven't made that determination yet.” 

of energy before anv 1 f ^ LLS. authorities said they hope the operators will 

^ dtrecdy or indirect- identify voluntarily. If tbeydon’t, “the 

produce plutonium A ^ n ?’ extradition agreement between us and South Africa 

used to mat-.. nucWr ^P roducl dial can ^ would cover tnis." an Energy Department official said. 

^ weapons. “We obviously can't go into their plants and point 

w mc j r ® cl °f operators control various plant sys- out the Americans," another State Department offi- 
^ g anfl plutamum is a byproduct of the plant's dal added “Die word has gone out through ESCOM, 
““wear i^ptHL and some have come forward," he said, referring to the 

».»rr ■ n< 5 has refused to sign the Nuclear Non- operators. He added, “If they are outside the law. then 

*"r~ e ^on Treaty. There is widespread suspicion they must stop work immediately. But it's not a 
wttntn the U.S. government and elsewhere that South question, as far as we know at this point, of their being 
Ainca e developing or has built nuclear weapons. in sensitive nuclear areas like nuclear weapons." 

Chernenko HI, Diplomats Are Told 


In addition to identifying the .Americans and their 
duties, U.S. officials are trying to determine when the 
operators began working in South Africa. The law 
requiring official authorization was enacted in Febru- 
ary 1983, and anyone working there earlier may be 
excluded. However, a congressional source said that at 
least 1 1 of the operators are thought to have gone to 
South Africa within the last year. 

An official said the issue surfaced in November, 
apparently when officials at the U.S. Embassy in 
South Africa heard that unauthorized Americans were 
working for the South African commission’s French- 
built Koeberg reactor, which opened in 1984. A sec- 
ond reactor is scheduled to begin operation this 
spring. 

Ian McLeod, a spokesman for the federally owned 
TV A. said of its operators, “I understand that some 
have left for South Africa, but I have no idea how 
many or how many followed through. 

“It’s a general consensus that our operators are 
pretty well trained and are generally sought after by 
other utilities, and I couldn’t rule out South Africa." 

Of 265 operators licensed to work at TVA's reactors 
since 1973. 56 have resigned. Mr. McLeod said that 
starting pav for licensed operators at the Tennessee 
Valley Authority was S3 1,000 a year, and pay for the 
most senior operators is capped at S51000. 

Energy Department officiate, led by Carlton E. 
Thome, director of the its poliiico-mifitaiy security 
affairs division, are planning to brief some members of 
Congress this week. 


On Friday. Representative Eduard J. Markey. 
Democrat of Massachusetts. ?eoi a letter to Energy 
Secretary Donald P. Hodel requesting “complete in- 
formation." including classified cables, “about your 
knowledge or that of any other Department of Energy 
officials" on the subject. 

“It is my underst andin g." Mr. Markey wrote, “that 
officials at the Depanmen t of Energy, and possibly 
the State Department may have known of Lhe activi- 
ties of U.S. citizens in South Africa for as long as a 
year but failed to take action to correct this situation." 

That allegation "is absolutely not true." a senior 
Energy Department official said. Three State Depart- 
ment officiate also said that they first became aware of 
the matter late last year. 

In September 1983. 13 authorizations were granted 
to U.S. companies seeking contracts for maintenance 
and safetv work with the South .African. Electricity 
Supply Commission. Confidential Energy Depart- 
ment documents show that 10 other requests are 
pending while members of Congress watch to see what 
the administration decides. 

U nder a 50-y ear agreement signed in 1 95" as pan of 
the “atoms for peace” program, the United States 
helped build South .Africa’s Safari- 1 research reactor 
in the early 1960s. 

However, further assistance, including supplies d 
enriched uranium needed for reactor fuel, was sus- 
pended in 1975 because of South .Africa’s refusal tc 
sign the Nuclear Nonproliferation Treaty. 




Mncrrra/ “ ed . Pnss . Fresh speculation started last Eastern Europe or protests among 
_ wu aLUW — Soviet officials, in week after a meeting of Warsaw Bulgaria’s Turkish minority op- 
with Westerners, have Pact leaders, scheduled to be held posed to further assimilation, 
conveyed the message that Presi- in Sofia, was called off without ex- Still, a diplomat said, “You look 

Konstantin U. Chernenko is planation. at his last appearance and his gen- 

•uhng. according to Western diplo- It wou]d have ^ ^ fir5t ofn _ eral health record, and you can 

rial trip abroad for Mr. Chernenko assume he e not wdL Mr Cher- 
But unanswered are the ques- as president and the first meeting nenko last appeared on television 
tions of how U1 the 73-year-old of the Soviet bloc officiate under on Dec. J7. 
leader is and whether his ailment his leadership. * ae president «s believed to suf- 

will prevent him from making pub- Many diplomats viewed the can- [? r f ro “ e ?£j ,ys ?“®?° d .j? 

lie appearances for a kmg period, cellation as a sign that Mr. Cher- d,e pasl . “f 11 hospitalized with 
“It's back to watching all the nenko was ill. Other political ana- P neuraoaia - h* his television ap- 
littie signs. in the press and else- lysts, however, said it could have pe3 ^^J^- appea ^,. t0 - ave 
where.” said a Western diplomat, been caused by the bad weata in ISIS 

" have aggravated his condition. 

_ Mr. Chernenko missed the Dec. 

Reagan, New Arms Team 

Will Meet to Discuss Options "iS^tlKr^iered 

IT Saturday as a candidate for forth- 

( Continued from Page 1) from public groups and U.S. allies coming elections. Reuters r^orlecL 

Jastrow. a physicist who founded to improve relations with the Soviet . ^ . Moscow^ Kuibyshev 

the Goddard Institute for Snac* Union. Pravda also said there was “?°P. lea , Dv jWwsajws Kutpysnev 
me^Goddard Institute for Space opp^don to the space- ^met f or the Feb. 24 elections to 

l- ^ weanons research oroeram but that the parliamentary assemblies of the 


Still, a diplomat said, “You look 
at bis last appearance and his gen- 
eral health record, and you can 


conveyed the message that Presi- 
dent Konstantin U. Chernenko is 
admg. according to Western diplo- 
mats. 


leader is and whether his ailment his leadership, 
will prevent him from making pub- Many diplomats viewed the can- 

licjippearances for a kmg period, cellation as a sign that Mr. Cher- 
“It’s back to watching all the nenko was ill. Other political ana- 
little agns.in the press and else- lysts, however, said it could have 
where." said a Western diplomat, been caused by the bad weather in 

Reagan, New Arms Team 
Will Meet to Discuss Options 

(Co nti n u ed from Page 1) from public groups and U.S. allies 
Jastrow, a physicist who founded to improve relations with the Soviet 
the Goddard Institute for Space Utuon - P« vda ^ ^ there was 
Studies growing opposition to the space- 

Saturdav. Mr. Kamoebnan said, weapons research program but that 


Studies. 

Saturday, Mr. Kampeiman said. 
“I have not the slightest problem" 
with the substance of the article. 
But io a telephone conversation 


But in a telephone conversation . ' Mr Chernenko was not reouired 

with Edward Skin, editor of Die there tsstill an opportunity to reach 

New York Times Magazine, he an agreement about the nonmilitar- ^ a J! e | Li n0I ^S ^ 
ast«t if it was nnssihleto haw his nation of space and to stop the m ri UI1 S mat nommatea nun. 
asitea u n was possible to nave ms onwth and nrevent the However, he wfli be expected to 

name taken off the article. He said race r on e^tn ana prevent tne , rar rvWmhers 

that when the article was hrinp nre- declrne of mankind to the nuclear * specen 10 P^y. jpcmDers 

that tne article was Being pre- Tomorrow might be too fr® 10 b* Moscow distnet before 

paM he did noi know that he lomorrow might be too Feb 24 ^ w ^ ^ vote 

would be asked to take the arms- ^ 

control assignment The article had ■ Hart, Soviet Leaders Meet 

already been printed when Mr. Dusko Doder of The Washington tf\ Trvi n 1 ci Tnllzo 
Kampeiman made his requesL Post reported from Moscow: VjY IJI US 1 dLHA 

Mr. Kampeiman said he was Senator Gary Hart said Sunday * *- ' 
concerned that, having the “high be has urged Soviet officiate to de- PnllancD 

profile" of a negotiator, be might dar e a unilateral moratorium on J-NCiU. VA /I lfllJ PC 
be belter off without having the testing or de pl oymen t of nuclear ^ 

article attributed partly to him. weapons, asser ting that only such (Continued from Page 1) 

Mr. Kampeiman, Mr. Tower and “dramatic action" taken first by lantic Treaty Organization's soutb- 
Mr. Ghtraan all will be nominated one and then by the other super- eastern f lank 
to ambassadorial posts and will re- power could break the momentum Negotiations between the two 
quire Senate confirmation, the of the arms race. sides never got off the ground be- 

White House official said. The Colorado Democrat said his vond an initial oresemation of the 


asked if h was possible to have his 
name taken off the article. He said 


izalion of space and to stop the 
arms race on earth and prevent the 


that when the article was being pre- decline of mankind to the nuclear 
pared, he did noL know that he ab >^ Tomorrow might be too 


would be asked to take the arms- 
control assignment The article had 
already been printed when Mr. 
Kampeiman made his request. 


npclman • 
concerned that, having the 


late." 

■ Hart, Soviet Leaders Meet 

Dusko Doder of The Washington 
Post reported from Moscow: 
Senator Gary Hart said Sunday 
be has urged Soviet officials to de- 


profile" of a negotiator, he might dar e a unilateral moratorium on 
be belter off without having the testing nr deploymen t of nuclear 
article attributed partly to h im . weapons, asserting that only such 
Mr. Kampeiman, Mr. Tower and “dramatic action" taken fust by 


Pravda l, the Communist Party ship.' 


, said Sunday the United Mr. Hart, who unsuccessfully on Thursday. 


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nationality and ethnic origin to all 
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De AaocMod 


Two residents of the Ruhr city of Essen protect themselves against the smog. 

Smog Alert Is Lifted in Ruhr Cities 


proponents of it have not given up 5°™ 1 Union ’ s republic. All can- 
their stand. didaies are unopposed in the one- 

The newspaper said, 'Today, P^^tcm. 


ambassadorial posts ana wui re- power could break the momentum Negotiations between the two 
ire Senate confirmation, the of the arms race. sides never got off the ground be- 
fore House official said. The Colorado Democrat said his yond an initial presentation of the 

proposal “for the time being, was Greek Cypriot and Turkish Cypri- 
Pravda Praises U.S. Stance not accepted by the Soviet leader- ot positions on the main points of a 

r% j .V- - r' ' * M >L. r. . j... «.n 


settlement on the first day of talks 


DUSSELDORF — The authori- 
ties lifted restrictions Sunday on 
the use of private cars in the cities 
of the Ruhr valley, after a warming 
trend reduced pollution levels. 

Hie smog alert, imposed Thurs- 
day by the stare of North Rhine- 
Westphalia, was lifted after the lev- 
els of sulfur dioxide and other 
pollutants dropped. The poDution 
had been trapped by a layer of 
stationary air caused by low tem- 
peratures and low winds. 

Under the stage-two alert that 
was lifted Sunday, private cars are 
required to stay out of city cemers 
during certain periods of heavy 
traffic. 

A stage-one smog alarm, advis- 
ing people with respiratory ail- 
ments to stay indoors and appeal- 
ing for minimal use of motor 
vehicles, remained in effect 

On Friday, the maximum stage- 
three alert was pul into effect in 
some parts of the Ruhr valley. 

All nonessential vehicles were 


ordered off the roads, schools were 
closed and industries were ordered 
to cut their output or shut down. 

In West Germany and in much 
of Western Europe! the two-week 
cold spell seemed to come to an 
end. But forecasters warned that 
rain and melting snow could bring 
floods. 

The death toll from the cold 
weather, already well over 300. 
continued to rise. 

Four Moroccan immigrants were 
killed Sunday when an explosion' 
destroyed six houses near Amster- 
dam. Police said the explosion had 
been caused by a gas leak. Freezing 
temperatures have cracked a num- 
ber of gas pipes in Europe since the 
cold spell began early this month. 

In mountain areas, skiers were 
warned that higher temperatures 
could bring avalanches. In the 
Spanish Pyrenees resort of Can- 
dan chu, six persons were killed and 
four injured Saturday when 13 ski- 
ers and their instructor were swept 
away by an avalanche, officiate 
said. 


In West Germany, the smog be- 
came a political issue. The Greens 
party and most other environmen- 
tal groups issued statements saying 
the Ruhr crisis was the result of 
years of government negligence in 
environment, energy and transpor- 
tation policy. 

The Social Democrats, who run 
the state government in North 
Rhine-Westphalia. asserted thai if 
other regions had the Ruhr’s strict 
standards, they too would have had 
smog alerts. 

Sources in the state Health Min- 
istry said thai the smog hit the 
Ruhr shortly after air-quality stan- 
dards had been tightened. Under 
the old standards, with different 
pollution indexes and higher 
thresholds, the stage-three alarm 
would not have been reached, they 
said. 

Members of Chancellor Helmut 
Kohl’s conservative coalition, ap- 
parently in view of a state election 
in May. accused the stale adminis- 
tration of incompetence. 


States has shown a “positive" ap- sought his party’s presidential During the presentation, impor- 
p roach toward new arms control nomination last year, said that if he rant differences became apparent 
talks. The Associated Press report- were elected president he would be on the two key issues of the with- 
ed. “seriously tempted to Institute such drawal of Turkish troops that have 

“If we take the very fact of the a moratorium for at least six held a third of Cyprus since 1974, 
Geneva meeting and die joint state- months" to give the Soviet Union a and over the appointment of Tur- 
naent adopted there, the subse- chance to follow suit. key as a guarantor of a future Cy- 

quent assurances through diplo- Mr. Hart said he stressed the pros federal state, 
roatic c hann els, the high evaluation issue of “compliance and verifies- The Turkish Cypriots want a rc- 
ofthe Geneva accords by the White tion" in talks with Foreign Minister sidual Turkish military force 10 re- 
House and the U.S. Sure Depart- Andrei A. Gromyko and other offi- main on the island for their securi- 
ment, it looks like a positive aspect rials, including Lieutenant General ty, while the Greek Cypriots want 
has appeared overseas in the ap- Nikolai Chervov, and Vadim V. total demilitarization. Mr. Kv- 
preach to the talks." Pravda said. Z a g ladi n . deputy chief of the inter- prianou also made it clear that the 
Pravda said the positive signs national department of the Central Greek Cypriots would not agree to 
were largely in response to pressure Committee. include Turkey among the guaran- 

tors of a settlement, given theorigi- 

— jj nal 1974 invasion of Cyprus. 

In Kivadh From d,al P 0 *™ oa - however, the 

J two sides became locked into what 

for a joint high-level agreement." 

In statements at the end of the 
third day of talks Saturday. Mr. 

THE ADVANTAG E IS INTER- CONTINENTAL 

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A A I n A Mm .il I ‘ 1 spokesman, Andreas Chrisiofides, 

. jkA Bal du f)l (% 1 » I called the draft document “a ghost 

-Am nouJ^KaUAli 


U.S. Suspends Negotiations with Nicaragua 


(Continued from Page I) 
administration of having started 
the talks to help President Ronald 
Reagan gain re-election. “We art 
worried,” he said, “because there is 
a policy of cutting off anything that 
means dialogue with Nicaragua. It 
seems that the few people in the 
Reagan administration who fa- 
vored a policy of dialogue have 
been pushed aside." 

The talks began last June, when 
Secretary of State Geoige P. Shultz 
made an unannounced visit to Ma- 
nagua. 

Representatives from the United 
States and Nicaragua met eight 
times in Manzanillo, Mexico, with 
the last session in December. The 
atmosphere at the talks was de- 
scribed as good by both U.S. and 
Nicaraguan diplomats. The U.S. 
delegation was led by Harry W. 


Shlaudeman. Mr. Reagan’s special 
envoy to Central America. Mr. Tin- 
oco led the Nicaraguan delegation. 

The derision to suspend the talks 
was made at the White House, ad- 
ministration officials said. They 
said it was advocated by the De- 
fense Department and the Central 
Intelligence Agency and was ac- 
cepted with some reluctance by the 
State Department. 

The Suite Department declined 
to say categorically that the talks 
had been broken off. It said that no 
discussions were being scheduled 
pending developments in the peace 
negotiations being conducted by 
Mexico. Colombia. Venezuela and 
Panama, acting together as the 
Cbnladora group. 

The suspension appeared to 
harm the prospects for the peace 
plan, which has been under discus- 


sion for two years. The direct talks 
between Nicaragua and the United 
Slates and its allies, principally El 
Salvador and Honduras, were in- 
tended to resolve some of the dif- 
ferences preventing acceptance of 
the Contadora plan. 

Nicaragua announced in Sep- 
tember ibat it would sign the draft 
Contadora peace treaty, but told 
the United States at Manzanillo 
that revisions sough, by Washing- 
ton would be unacceptable. 

A senior White House official 
said the administration had con- 
cluded that talking with the San- 
dixusts was unproductive as long as 
Nicaragua had no incentive to 
make concessions. He said the ad- 
ministration would appeal to Con- 
gress to resume aid to Nicaraguan 
rebels to provide the kind of lever- 
age that he said was now lacking. 


WORLD BRIEFS 

Israel Starts Withdrawal Preparations 

TEL AV|V i Reuters I — Israeli troops began dismantling equipment 
Sundav in preparation for the first Mage of withdrawing from southern 
Lebanon, an Israeli military spokesman said. 

“We’re not waiting.” the spokesman said. “From today we begin raking 
apart and removing equipment so that on Feb. 1 9 there will not remain 
anv Israeli soldier or equipment in the phase-one area. 

A week ago. the Israeli government derided to withdraw its troops 
from southern Lebanon in three phases. Orders to begin dismantling 
medical centers, fuel depots, ammunition dumps and storage installa- 
tions were sent to field units Friday. 

In Jerusalem. Brian E. Urquhart. a United Nations undersecreuuy- for 
special political affairs, conveyed to Yitzhak Rabin, the Israeli defense 
minister. Lebanon's agreement to resume negotiations on deploying UN 
troops in the evacuated areas. 

Colleagues Reportedly Visit Sakharov 

MOSCOW ( LAT) —Two former colleagues recently visited .Andrei D. 
Sakharov, the Soviet dissident, at his borne in exile in Gorki but a similar 
visit scheduled for late January has been canceled, according to friends of 
the Sakharov family. . , vt . , _ . 

The trip to see Mr. Sakharov was made in late November by Bons 
Boloiovskv and Efim Fradkin. both physicists from the Physical Institute 
of the Soviet Academy of Sciences, the family friends said Saturday. 
Details of the visit were not available. 

Two other scientists were authorized to visit Mr. Sakharov in Gorki 
between now and the end of the month but their trip was canceled 
without explanation, the sources said. There has been little reliable news 
on the scientist’s fate since he declared a hunger strike last May to protest 
the Soviet authorities’ refusal to allow his wife, Yelena G. Bonner, to 
travel abroad for medical treatment. 

South Africa Denies Visa to Jackson 

WASHINGTON (AFl —South Africa has denied the Reverend Jesse 
L Jackson a visa to visit the white minority-ruled country next month 
after earlier giving permission to make the trip in January. 

A February visit by Mr. Jackson is “not opportune for the South 
African government," 'Bernardos G. Fourie, the country's ambassador to 
the United States, said Saturday in a letter to the civil rights leader. The 
ambassador did not explain why February is “not opportune." 

Mr. Jackson, who led a “counterinaugural" inarch pasl the White 
House on Saturday to protest President Ronald Reagan's policies, said he 
bad not yet seen Mr. Fourie’s letter. But he used the demonstration to 
attack the racial separation policies of South Africa’s government and the 
Reagan administration's low-key “constructive engagement" strategy 
toward forcing change there. Mr. Jackson also praised the ongoing 
protests outside South Africa's embassy in Washington. 

Sudan Frees Is lami c Law Opponents 

KHARTOUM, Sudan (AP) — Four men who had been sentenced to 
death for opposing Islamic law have been released after they recanted and 
renounced their leader, who has been hanged. Sudanese radio said. 

The radio said the four. Tajuddin Abui-Razik. Khalid Babikir Hamza. 
Mohammed Salam Baashar and Abdul-Latif Omar Hassaballa. were 
released Saturday by a court in Omdurman, across the Nile River from 
Khartoum, after publicly reading their recantations. 

On Jan. S. the court sentenced the four and their leader. Mohamoud 
Moh amm ed Taha, 76, to death for “heresy" and distributing leaflets 
opposing President Gaafar Nimeiri’s 1983 decision 10 impose Islamic 
law. or sharia. Mr. Taha. an Islamic scholar, has opposed strict applica- 
tion of Islamic law, saying the message of the Prophet Mohammed should 
be updated to meet modern social conditions. He was hanged on Friday 
after he refused to recant 

For the Record 

Prime Minister Kara Wffloch of Norway ended a three-day visit to 
Hungary on Saturday, the Hungarian news agency MTI reported in 
BudapesL f Reuters ) 

The I ranian prime mimster, Mir Hussein Moussavi. arrived in Ankara 
on Sunday for a three-day visit. He is to discuss regional problems and 
ways to expand trade between Iran and Turkey in talks with Turkish 
officiate. \AP) 

Seventeen members of tire leftist guerrilla group GRAPO were arrested 
Saturday in raids by police in seven Spanish cities, the Interior Ministry 
said in Madrid. (Reuters) 


Mitterrand Seeks to Extend 
Noumea State of Emergency 

(Continued from Page 1) France on Wednesday, Reuters re- 
independence groups to dramatize ported from Paris, adding that the 
their desire to remain French. local government in New Caledo- 
As Mr. Mitlerrand arrived Salur- nia has denounced the visit, 
day morning after a 25-hour flight In a statement released Satur- 
from Paris, the central square and day. Dick Ukeiwe. president or the 
many streets in Noumea were anti-independence territorial gov- 
jammed with demonstrators pro- era men t elected in November, 
testing what they view as the urged political leaders in Paris not 
French government’s sympathy to receive Mr. Tjibaou. 
with the demands for indepen- Government officials in Paris re- 
dence by some groups of native fused to comment on press reports 
Melanesians, known as Kanaks. that Mr. Tjibaou would meet with 
The demonstrators, though the French external relations min- 
mostiy European, included Asians, teter, Roland Dumas. 

Melanesians and others from the 
various ethnic groups that live on 
the island. 

Banners that were displayed 
said: “Mitterrand Traitor” and 
“Mitterrand: Don’t Sell Caledonia 

to the Russians." the latter reflect- 
ing a commonly expressed fear that 
the forces pressing for indepen- 
dence are pro-SovieL 

■ Tjibaou to Visit Fans 
Jean-Marie Tjibaou. the Kanak 
separatist leader, plans to visit 


Greek Tourism Rises 14.6% 

The .tsiMi Kited Press 

ATHENS — More than six mil- 
lion foreigners visited Greece in 
1984, a 14.6-percent increase over 
1983, the Greek National Tourist 
Organization announced Saturday. 
According to its figures, Britons led 
the list, at 1,043.363, followed by 
864.000 West Germans, 474.845 
Americans and 405,907 French- 
men. 


For Reagan, Place in History Depends on Tests of 2d Term 


(Continued from Page 1) 
whether Mr. Reagan, who, at the 
age of 73, took his official oath of 
office Sunday, will have presiden- 
tial vigor and command through- 
out his second term or whether he 
will be afflicted by the fatigue and 
disarray that hobbled some earlier 
presidents in their second adminis- 
trations. 

The political and academic com- 
munities will be watching Mr. Rea- 
gan’s Inaugural Address on Mon- 
day for dues to bis intentions for 
leadership in the next four years. 

Some are asking whether be will 
signal a new burst of presidential 
activism with a stirring call to ac- 
tion, as Franklin D. Roosevelt did 
in 1937, or whether he will offer a 
more subdued and prosaic evoca- 
tion of peace and prosperity, as 
Dwight D. Eisenhower did in 1957. 
In recent weeks Mr. Reagan's rela- 
tively low profile and his willing- 
ness to let Senate leaders take the 
initiative on the budget have invit- 
ed comparisons with Eisenhower. 

“If his inaugural sounds more 
like Roosevelt in ’37 than Eisea- 


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bower in '57. then we’ll know it’s 
the same Reagan we saw at the 
start of his first term." said David 
R. Gergen, former communica- 
tions director for Mr. Reagan. 

“I’m not dear whether that fire is 
still there. There are some people 
around the president who are con- 
tent to say, if we can just keep 
what we've got, well have a suc- 
cessful second term.' That would 
be a massive change for Reagan 
himself. The inaugural will provide 
a due on whether he can regain 
momentum. lay out a plan for the 
next four years, and mobilize the 
country behind him." Mr. Gergen 
said. 

Second terms have been hard on 
presidents, even the most respect- 
ed. Many analysts suspect that Mr. 
Reagan's second term will be no 
exception, despite the ease of his 
re-election. 

In his second term, F ranklin D. 
Roosevelt ran afoul of strong con- 
gressional opposition to his plans 
lo pack the Supreme Court and 
revamp the Executive Office of the 
presidency. Woodrow Wilson saw 
the Senate reject membership in the 
League of Nations and spent his 
waning months physically inca- 
pacitated. 

Theodore Roosevelt fell into 
stalemating battles with Congress. 
After his 1948 victory. Harry S. 
Truman look his staff to Key West. 
Florida, for six weeks and had trou- 
ble regaining the political initiative. 


After his 1964 landslide. Lyndon B. 
Johnson saw his legislative success- 
es overshadowed by the nation’s 
agony in Vietnam. In a truncated 
second term. Richard M. Nixon 
had sour relations with Congress 
over his refusal to spend money 
that Congress had appropriated, 
even before be was forced to resign. 

Among recent presidents. Eisen- 
hower alone seems to have emerged 
moderately well in Us second term. 

Close associates of Mr. Reagan 
contend he can break the pattern. 
They die the bipartisan successes 
of Us second term as governor of 
California. Moreover. Mr. Reagan 
now enjoys unusually high person- 
al popularity for a modern presi- 
dent just about lo begin his second 

term. 

Even opponents credit him with 
rekindling national pride and patri- 
otism. reasserting traditional val- 
ues and restoring public confidence 
in the presidency. Thomas E Cro- 
nin, a presidential scholar at Colo- 
rado College, rates Mr. Reagan 
strongly as “a restoration presi- 
dent. 

In the economic field, the 1981 
tax cuts, the sharp fall in inflation 
to 4 percent from 12.4 percent, and 
the break in tire wage-price spiral 
that some attribute to Reagan’s 
handling of the air traffic control- 
lers’ stake, are hallmarks of the 
Reagan years. 

Despite Mr. Reagan's efforts to 
shrink the size of domestic pro- 


grams, federal spending as a per- 
centage of everything Americans 
spend for goods and services actu- 
ally rose in his first four years. 

Nonetheless, allies and adversar- 
ies alike agree that perhaps his ma- 
jor accomplishment has been to 
punctuate the end of the post-New 
Deal era by halting the surge of 
growth and activism in federajpro- 
grams and shifting the focus of the 
national political debate to re- 
trenchment in govemmenL 

“When the liberate start looking 
at the deficit, 1 think that’s a revo- 
lution." said Thomas S. Winter, 
editor of the conservative weekly 
Human Events. 

Yet after Us year of legislative 
triumphs in 1981, Mr. Reagan's 
legislative record has been mixed 
and he has increasingly left politi- 
cal initiatives to Congress. Since Us 
re-election, he has surprised other 
politicians, moreover, with his low 
profUe and by not showing the dy- 
namic, aggressive leadership of 

His 1984 campaig n lacked the 
specific policy agenda of 1980. In 
his current tranalion period, he has 
neither assressivdv drawn the de- 


With the Democrats bolding a 
70-seat majority in the House of 
Representatives, as against 5 1 scats 
four years ago. and his own Repub- 
lican Party divided by budding ri- 
valries for the 1988 presidential 
nomination, Mr. Reagan also has 
agreed to the belated breakup of his 
highly effective White House polit- 
ical team just as the early maneu- 
vering with Congress begins. 

“In theory, the fifth year of a 
presidency is an enormous strategic 
opportunity," Professor Neustadt 
said. “It's your one and only oppor- 
tunity in your second term. But 
that opportunity has been messed 
up every time by tiredness or ebul- 
lience and overconfidence. My 
guess is that's already happened in 
this administration and history 
may be repeating itself." 

Lately. Mr. Reagan has bristled 
at suggestions that he has abdicat- 
ed leadership. Aides say Us low 
profile reflects the norma] political 
cycle of introspection and policy- 
fonn ula ting after an dectior.. 

“He's just biding his time.” said 
Robert J. Dole of Kansas, the Sen- 
ate majority leader. 


neither aggressively drawn the de- 
feated Democrats into bipartisan 
efforts on the budget or tax reform, 
nor has he pressed his own admin- 
istration to cany out the austere 
budget-cutting targets he initially 
accepted. His efforts stalled on Us 
unwillingness to curb Pentagon 
spending vigorously. 


Gandhi May Visit Moscow 

A pence FmcC'Preae 

NEW DELHI — Prime Minister 
Rajiv Gandhi of India will make an 
official visit to the Soviet Union 
from May 16 to 19. The Times of 
India reported Sunday. 



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AMERICAN TOPICS 


Happy Trails 

la the Boondocks 

Sixteen years ago Jefferson 
Spivey, then 25, an Oklahoman 
wbo was writing scripts in Hol- 
lywood, look six months off to 
cross the United States on 
horseback from west to east, 
leading a pack male with sup- 
plies. Recently he completed a 

■amflar north-south trip along 
ihe Continental Divide from 
Can ada to Mexico. 

On both treks Mr. Spivey 
avoided multflane cross-coun- 
try highways. He found he 
could travel along abandoned 
railroad beds running beside 
crystalline streams, old logging 
trails, , or disused back roads 
lined with, sunflowers, The New 
York Times reports. 

Mr. Spivey concluded that 
die national highway system 
creates a sense of freedom, but 
runnels nriffions of travelers 
along fume-choked routes lined 
with fast-food restaurants and 
overcrowded national parks. 

Although the United States 
has a number of hiking trails, 

he c^j^^^m^ails, a net- 
work fairing the more remote 
national parks with forest and 
wilderness and off-limi is to 
anything with a gasoline engine 


Keeping Government 
At Arm^ Length 

The slate and federal govern- 
ments are Montana’s biggest 
landowners and biggest em- 
ployers. Despite the state's vast 
distances, it adheres to the fed- 
eral 55 mfie-an-hoirr (about 90- 
kilometer) speed limit. Gover- 
nor Ted Schwinden, a 
Democrat, says candidly, “If 
you change the speed Hmit, you 
lose the federal highway mon- 
ey,” about $120 million a year. 

Still, the people of Montana 
like to keep government at 
arm's length. Montana is one of 
eight slates that permit ihe state 
legislature to meet only every 
other year. (The others are Ar- 
kansas, Nevada, New Hamp- 
shire, Kentucky, Oregon, North 
Dakota and Texas.) 

Yearly sessions were tried in 
1972 and quickly abandoned. 
Mr. Schwinden says: “The ba- 
sic attitude is, ‘These guys do 
enough damage every other 
year. You let 'em meet more, it 
w3l just encourage ’em.' " 


Hey, Mom, 
Got a light? 


CBS and NBC are refusing to 
broadcast a 30-second televi- 
sion commercial by the Ameri- 
can Cancer Society purporting 
to show an unborn baby smok- 
ing a cigarette. ABC is showing 
it, however, as are local stations 
all over the United Stales. 

The spot shows a startlingly 
realistic fetus slowly bringing a 
cigarette to its delicate mouth. 
As it inhales and dan exhales a 
lung full of smoke,- a woman’s 
voice is saying, “Would you 
give a cigarette to your unborn 
child? You do every time you 
smoke when you’re pregnant. 
Pregnant mother, please don’t 
smoke.” 


Budget Item: 

Waste, Fraud, Abase 

Writing on the defense bud- 
get, Bill Keller of The New 
York Times notes that Con- 


gress, irked by reports of misfir- 
ing missiles and $7,600 coffee- 
makers, has been pressuring the 
Pentagon to reform its buying 
habits. But, he says, “the prob- 
lem is that fat, when it exists, is 
usually well marbled through 
the budget, not sitting on lop 
awaiting the carving knif e" 

Mr. Keller quotes Represen- 
tative Les Aspin, Democrat of 
Wisconsin, the new chairman of 
the House Armed Services 
Committee, as saying, “There is 
no line hem in toe budget that 
says, ‘Waste, fraud and abuse 
— 58,924,673.74934.’" 


Short Takes 

Cfcaries G. Brown 3d, who 
took office this month as the 
attorney general of West Vir- 
ginia at the age of 34. is neither 
the youngest nor the first elect- 
ed state official in his family. 
His brother Sherrod, 32 , has 
been Ohio’s secretary of state 
for two years. 

Reuben V. Anderson, 42, a 
county circuit judge in Missis- 
sippi, has been appointed to the 
state Supreme Court by Gover- 
nor Bill Allain a Democrat. 
Justice Anderson will be the 
first black on that bench since 
the Reconstruction era after the 
Civil War. He was appointed to 
fill a vacancy and will face elec- 
tion along with other state offi- 
cials next year. 

Shorter Tabes: The Peace 
Corps appealed for 600 volun- 
teers for famine relief and agri- 
cultural work in Africa and got 
5,000 inquiries in four days, (he 
largest number of responses 
since the heyday of the agency 
in the early 1960s, officials say. 

. . . Widely denounced as a tax 
boondoggle and an environ- 
mental hazard, the 52-biUion, 
234-mfle Tennessee-Tombigbee 
Waterway connecting the Ten- 
nessee River with the Gulf of 
Mexico was opened this month 
to commercial traffic. 


Notes About People 

As five-figure estimates of 
Nancy Reagan’s inaugural 
wardrobe woe bandied about 
last week. Mis. Ragan bor- 
rowed a 1961 quote firm Jac- 
[eanefly. "If I spent 
modi on my clothes, I’d 
have to wear sable underwear," 
Mrs. Reagan said through her 
press secretary, Sheila Taie. 

Mayor Edward L Koch of 
New York made a New Year's 
resolution to lose weight - by 
sticking to turnips, on the the- 
ory that you will eat less if you 
restrict your intake to somc- 
thing you hate. A few days later 
be admitted that his diet lasted 
for about one turnip. 


Fielding’s Guide 
To Who’s on Top 

Many White House staff 
members have been too nervous 
to joke during the avalanche of 
high-level job changes in the 
Reagan administration. Not so 
FredF. Fielding, the White 
House counsel 
The other day, according to a 
White House employee, as Mr. 
Fielding was leaving his office, 
he yelled back to his secretary: 
“Tin going to lunch. If the boss 
calls, find out his name.” 

— Compiled by 
ARTHUR H1GBEE 


Meese Asking U.S. toPay 
$700,000 in Legal Bills 


Was hi ng t on Pest Service 

WASHINGTON —The U.S. at- 
torney general-de si gna t e, Edwin 
Meese 3d, is seeking to have the 
BDvenunent .pay about $700,000 in 
legal bills incurred in defending 
htmerff fhiring a post-nomination 

investigation last year, sources 
have cxmfinnBd. 

Some Justice Department offi- 
cials said Friday that they regard 
the request as excessive and want to 
challenge it before a medal three- 
judge federal court that oversees 
matters involv ing the Ethics in 
Government Act Other depart- 
ment officials said it is technically 


w administration policy 
has been that lawyers who win 
cases against the government are 
enti tled to fees of no more than $75 
an hour. President Ronald Reagan 
has supported legislation, to set that 
Hmit 

Lawyers who successfully de- 
fended Mr. Meese during ; tbe sa- 
monih investigation by an indepen- 
dent counsel, Jacob A Stan, are 
seeking as szhdt as $225 an hour. 


according to informed sources. The 
judicial panel may authorize aQ or 
part of the request. 

Tins is the first time a govern- 
ment of ficial has riled a 1983 
amendment to the law allowing re- 
imbursement for attorney fees in 
independent-counsel investiga- 
tions. Previously, government offi- 
cials had to pay their lawyers. 

Mr. Meese's team, headed by 
Leonard Garment, the counsel to 
the Nixon White House, defended 
him g gHingt a broad range of alle- 
gations, including that be gave fed- 
eral jobs to people with whom he 
had financial relationships. 

Sources said Mr. Garment usual- 
ly frills clients about $200 or $225 
an hour, a standard rate Cor a senior 
partner at a top Washington law 
fem Sources said that is approxi- 
mately what Mr. Meese was 

Another lawyer said that Mr. 
Meese’s attorneys believed they 
migh t be required to charge him 
thrir standard rales, lest any de- 
duction be viewed as a favor to Mr. 
Meese. 



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Reagan Criticizes Some Black Leaders 


By Bernard Wdnraub 

New York Tfmcs Service 

WASHINGTON — President 
Ronald Reagan has alleged in an 
interview that some black leaders 
were “committed politically" to the 
Democratic Party and had distort- 
ed his record to “keep their constit- 
uency aggrieved.” 

“I have to come to the conclu- 
sion that maybe some of those lead- 
ers are protecting some rather good 
positions that they have,” Mr. Rea- 
gan said in an interview published 
Friday, “and they can protect them 
better if they can keep their constit- 
uency aggrieved and believing that 
they have a legitimate complaint.” 

“If they ever become aware of 
the opportunities that are improv- 
ing.’' he said, “they might wonder 
whether they need some of those 
organizations.” 

Mr. Reagan, who made his com- 
ments in an interview on Thursday 
with the newspaper USA Today, 
did not say which black leaders he 
was talking about. 

His blunt comments came as the 
administration pressed efforts to 


reach out to blades, bypassing the 
leadership that has long spoken for 
them. 

Asked why blacks voted over- 
whelmingly against him in Novem- 
ber, Mr. Reagan responded: “May- 
be because they weren't told very 
much by some of those leaders — 
what we have accomplished and 
what we have done.” 

Asked why blacks had not voted 
for the Republican Party, Mr. Rea- 
gan seemed to blame the black 
leadership. He said he tried “in the 
very beginning" to reach out to 
black leaders. “And I found out, 
vary frankly, that they are so com- 
mitted politically to the opposite 
party that they don’t want to near.” 
he said. < 

Mr. Reagan’s remarks were 
promptly denounced by leaders of 
several black organizations. 

John E. Jacob, president of the 
National Urban League, said the 
president's statements were “insen- 
sitive” and “insulting” and reflect- 
ed “shocking ignorance.” 

Benjamin L Hooks, executive 
director of the National Associa- 
tion for the Advancement of Col- 


ored People, said, “It appears to me 
that Ihe president U badly misin- 
formed about the true state and 
nature of conditions in the black 
community.” 

The Reverend Jesse L Jackson, 
who unsuccessfully sought -the 
Democratic presidential nomina- 
tion last year, said that Mr. Reagan 
“has once again displayed his cal- 
lous neglect, disregard and distance 
from the reality of life for Ameri- 
ca's minority communities.” 

in the interview, Mr. Reagan ve- 
hemently denied that be was insen- 
sitive to the needs of blacks. **I 
know there are a number of leaders 
of various organizations,” he said, 
“that are coining forth all the time 
with reports that build this idea, 
that somehow we’ve relegated the 
black community to a second-class 
status. Well, that’s not our intent 
and that's not our practice.” 

Mr. Reagan said in the interview 
that more than one million blacks 
had left the unemployment rolls 
since be took office and that his 
administration was pressing for the 
creation of zones with tax advan- 


Honduras Calls U.S.-Backed Agents 
Responsible for Murders, Kidnappings 


By Robert J. McCartney 

Washington Past Service 

TEGUCIGALPA. Honduras — 
Military investigators have found 
evidence that U.S. -backed Nicara- 
guan rebels are responsible for kill- 
ings and kidnappings in Honduras 
over the past four years, Honduran 
officials assert. The alleged vio- 
lence was used in an apparent ef- 
fort to break up an arms smuggling 
network aiding guerrillas in El Sal- 
vador, the offioals say. 

A still-secret report by a Hondu- 
ran panel investigating more than 
200 killings and abductions has 
concluded that Nicaraguan guerril- 
las were responsible for the disap- 
pearances of at least 1 8 Hondurans 
and possibly a larger number of 
Salvadorans here, high-ranking 
Honduran military sources said. 

“Many of the disappeared per- 
sons were on missions for Nicara- 
gua or Cuba,” a government source 
said. Those two nations are sus- 
pected of helping to arrange the 
weapons smug glin g 

Human rights groups said that 
the Honduran military s Special In- 
vestigations department was also 
responsible for many of tbe abuses 
bring investigated. 

Tbe report was said to attribute 
other abuses to Salvadoran leftist 
and rightist groups operating in 
Honduras and to Nicaraguan gov- 
ernment agents. 

It noted that Honduras, mostly 
because of its geography, has be- 
come an arena in which Central 
America's numerous guerrilla, 
paramiliiary and political move- 
ments have staged relatively low- 
level campaigns of violence. It is 
the only country in the region that 
borders all three nations with in- 
surgencies: El Salvador. Nicaragua 
and Guatemala. 

A Honduran who has direct 
knowledge of the support network 
inride Honduras for El Salvador’s 
guerrillas said that the majority of 
victims were people who had been 


helping the guerrillas. This Hondu- 
ran, a self-described sympathizer 
with leftist causes, said the para- 
military groups had seriously dam- 
aged the Salvadoran guerrillas’ 
support network in Honduras. 

General Walter L6pez Reyes, 
commander of the Honduran 
Armed Forces, named the military 
inquiry panel in June in response to 
public pressure to dear up cases of 
trilling s and kidnappings. A sum- 
mary of the panel's report was re- 
leased Dec. 29. 

The three-page summary provid- 
ed few details, except to note that 
foreign groups may have been re- 
sponsible for many of tbe abuses 
and to say that the investigation 
would continue until late March. 
Since then, officers have disclosed 
a few more details. 

The accounts offered the first 
indication that Nicaraguan rebels 
took part murder and kidnapping 
in Honduras to disrupt arms sup- 
plies to B Salvador. Die Central 
Intelligence Agency financed the 
Nicaraguan guerrillas from De- 
cember 1981 nntQ last spring in an 
effort that the US. described as 
being primarily aimed at interrupt- 
ing arms shipments to the Salva- 
doran rebels. 

CIA personnel also helped to or- 
ganize and advise the Nicaraguan 
rebels, leading Honduran human 
rights activists to suggest that U.S. 
personnel either were aware of the 
vigilante activities in Honduras or 
helped supervise them. 

A US. Embassy spokesman said 
Saturday afternoon that the United 
States was aware of the allegations 
of abuses by the anli-Sandinisi 
guerrillas but had not seen “any 
evidence, officially or unofficially, 
that in fact the anti-Sandinists were 
involved in such behavior.” 

Adolfo Cal era Portocarrero, the 
leader of the largest Nicaraguan 
guerrilla group, the Nicaraguan 
Democratic Force, was quoted ear- 
lier last week as saying at his home 


in Miami that he was unaware of 
such killings or abductions and 
that his group would awperaic 
with Honduran armed forces in in- 
vestigating them. 

The investigative panel also un- 
covered evidence that Salvadoran 
leftist and rightist groups and Nic- 
araguan government agents were 
responsible for some of tbe abuses, 
military sources said. But most at- 
tention has focused on the role of 
the Nicaraguan rebels and Hondu- 
ran security forces. 

From 1981 through 1984 there 
were 1 34 politically motivated kill- 
ings and 123 kidnappings, accord- 
ing to Dr. Ram6n uistodio. a phy- 
sician who is president of tbe 
Committee for Defense of Human 
Rights in Honduras. The commit- 
tee bases Us data on accounts pro- 
vided to it by family members or 
friends of the victims, and by per- 
sons who witnessed the abductions 
or shooting?. 

Human rights activists, media re- 
ports and some Honduran officials 
blamed General Gustavo Alvarez 
Martinez, the former armed forces 
commander, for rights committee. 

He was overthrown in a barracks 
revolt on March 31. 1984, and 
shortly afterward the new com- 
mander-in-chief, General Lfipez, 
publicly pledged to clear up the 
killings and disappearances. 

General Alvarez was a strong 
supporter of the Nicaraguan rebels, 
who have bases along the Nicara- 
guan border, but the government 
here has distanced itself from the 
guerrillas since General Alvarez 
was overthrown. 

Dr. Custodio and other human 
rights activists cautioned that the 
armed forces panel might be using 
the Nicaraguan guerrillas as scape- 
goats for abuses committed by 
Honduran security forces. They 
also said tbe violence continued 
even after General Alvarez’s depar- 
ture, citing 20 abductions since 
March 31. 


Quebec Plays Down Independence 


New Yori Times Service 

MONTREAL — The Parti Que- 
bdeois, which came to power in 
1976 with a vision of independence 
for Quebec, has taken a major step 
to de-emphasize the issue of sepa- 
ratism. 

At a special conference in Mon- 
treal on Saturday, 1,536 delegates 
voted by a 2-1 margin to set aside a 
resolution that would have made a 
vote for the Parti Queb6cois in the 
next ejection a vole for Quebec’s 
independence. 

They substituted milder wording 


that characterized independence 
for the province as a “fundamental 
objective." 

The issue of separatism has be- 
come less attractive for Quebec res- 
idents because Of gains made by the 
French-speaking majority and con- 
cern about recession and unem- 
ployment. 

Saturday's decision prompted a 
walkout by several hundred dele- 
gates who objected to seeing sover- 
eignty abandoned as an election 
issue. 

“Our party has been stolen from 


us,” said one woman as she joined 
the walkout 

At a press conference later, Ca- 
mille Laurin, a former provincial 
official who has been a strong ad- 
vocate of separatism, said tbe pro- 
independence group would decide 
in the coming weeks what to do 
.nexL 

The proposition identifying sep- 
aratism as tbe principal election 
issue for the party was pushed 
through last year by hard-liners re- 
sisting the efforts of the Premier 
Rene Levesque to steer the party 
toward a more moderate course. 



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naghborhood$. 

■ Reagan to Address Rally 

Mr. Reagan agreed Friday to ad- 
dress tbe annual "March for life” 
anti-abortion protest on Tuesday, 
the 12th anniversary of Roe v. 
Wade, the Supreme Court derision 
legalizing abortion. The Washing- 
ton Post reported. 

A White House spokesman, An- 
son Franklin, said ,ha| Mr. Rea- 
gan, an outspoken opponent of 
abortion, would use a loudspeaker 
hookup from his office to speak to 
the rally, which last year drew 
35,000 demonstrators- this will be 
the first time that Mr. Reagan has 
addressed the marchers, despite re- 
quests in previous years. 

His derision came as abortion 
dimes across tbe country tightened 
security in response to warnings by 
the federal Bureau of Alcohol. To- 
bacco and Firearms that the presi- 
dential inauguration on Monday 
and the anniversary of the abortion 
decision could prompt attacks 
against the facilities. 

There have been 30 bombings or 
arson attacks against clinics since 
1982. On Saturday, the Federal Bu- 
reau of Investigation said that three 
suburban Maryland men were ar- 
rested and charged in connection 
with tbe bombings of eight abor- 
tion facilities in Virginia, Maryland 
and Washington. D.C. 

Groups that advocate the avail- 
ability of abortion criticized Mr. 
Reagan's decision to speak to the 
demonstration. “It’s bod timing ," 
said Barbara Radford, executive 
director of the National Abortion 
Federation in Washington. 

Robert Rally, a special assistant 
to the president, said there was no 
connection between tbe violence 
and mains tream anti-abortion pro- 
testers. “There's no one we know or 
deal with in the pro-life movement 
who does not deplore the violence 
involved there," be said. 



RADAR SEIZED — A U.S. Customs Service agent, 
Alan D. Walls, and state-of-the-art mobile radar system 
seized Saturday at Los Angeles's international airport 
Three Portuguese men were arrested and charged with 
conspiring to sell $619,000 in munitions to Iran. 


Senate Republicans to Reject Freeze 
On Military Spending, Dole Asserts 


By Jonathan Fuerbringer 

New York Times Service 

Washington — senate r&- 

publicans will not call for a freeze 
in military spending in 1986, ac- 
cording to tbe majority leader. This 
means they will have to cut deeper 
into domestic programs to read) 
their goal of reducing next year's 
projected budget deficit by $50 bil- 
lion. 

A freeze on all spending in 1986, 
including the military budget, was 
the centerpiece of tbe Senate Re- 
publicans’ plans when they b egan 
to discuss ways to cut tbe deficit 
earlier this year. And thrir leader, 
Robert J. Dole of Kansas, said Sat- 
urday the senators still planned to 
slow the growth rate in the presi- 
dent’s military budget. 

David A Stockman, director of 
tbe Office of Management of Bud- 
get, said Saturday that the White 
House would have to compromise 
on Pentagon spending to reach an 
agreement with the Senate. 

Mr. Stockman said that, based 
on discussions with Senate Repub- 
licans, he did not expect tbe Senate 
to back a freeze in miliiary spend- 
ing, Such a freeze would reduce the 
pnnected increase in 1986 spending 
by $20 billion, according to admin- 
istration calculations. 

He said the Republicans were 
still looking at a proposal to elimi- 
nate the cost-of-living increase in 


Social Security for one year, but be 
was cautious about whether it 
would be part of a package. “We're 
not advocating that," he said. 

Mr. Stockman also said “it 
would be difficult" to include a 
freeze on the Social Security cost- 
of-living adjustment as part of a 
package. 

Both Mr. Dole and Mr. Stock- 
man said they were trying to assem- 
ble a deficit-reducing package that 
could be accepted by the president 
and Senate Republicans by late 
February. 

In negotiating with the Senate. 
Mr. Stockman said, the administra- 
tion would concentrate on achiev- 
ing $50 billion in deficit reductions 
in 1986, not on halving the deficit 
to $100 billion by 1988, which had 
been (he administration’s initial 
goal and is now the target of tbe 
Senate Republicans. 

But the revision that produced 
this new figure also has increased 
projected deficits, pushing the 1986 
estimate to $230 billion. He also 
said that by 1988, the proposed 
refactions would leave the deficit 
in the $130-billiori range, above the 
$ lOO-billion target the Senate has 
set. 

The commitment by Mr. Dole 
and Mr. Stockman to work togeth- 
er appears to bring the Senate Re- 
publicans and the administration 
into closer cooperation. Senate Re- 


publicans, under Mr. Dole, seemed 
to be taking the initiative on the 
budget away from the White House 
when they said they would assem- 
ble their own package. Their deci- 
sion was made after the administra- 
tion said it would not reach its 
initial goal of a deficit of S 100 bil- 
lion in 1988. 

Mr. Dole has said he would fin- 
ish his own package by Feb. 1. just 
three days before tbe president is to 
send his budget for me fiscal year 
1986 to the Congress. The fiscal 
year begins Oct. 1. 

Mr. Stockman, referring to the 
effort to reach a compromise on the 
military budget, said: “The rhetori- 
cal difference is a lot further apart 
than the number difference ana the 
policy differaice. And so people 
start from strong rhetorical oppo- 
sites, but I think you have noticed 
in the past that is not prohibitive 
when the time comes to get serious 
and make a derision." 

Mr. Stockman said he thought 
that Republican senators interest- 
ed in the miliiary would be reluc- 
tant to support cuts totaling even 
$6 billion more than the president 
accepted in preparing his 1986 
budget 

Defense Secretary Caspar W. 
Weinberger, in (fa administration s 
budget deliberations, agreed la 
trim $8.7 billion from a $286 billion 
proposed budget. 



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Exemplary Justice: Lesson of Stacy Reach 

In Britain, Even the Rich and Famous Are Going to Jail for Drug Offenses 



By Jo Thomas 

,\e* York Times Service 

LONDON — "The judge who 
sent my favorite actor, Stacy 
Reach, to your rathole of a prison 
ought to be kicked out." said an 
angry letter from Syracuse. New 
York, published in the Friday issue 
of the Daily Mirror. 

"Doesn't he realize how many of 
your rock groups have been busted 
over here with a lot more drugs on 
them, and received only a fine and 
a slap on the wrist?” continued the 
leiter, signed by Shane Barrett. 

Whatever happens in the United 
States, in Britain celebrities who 
are convicted on drug charges go to 
jail. 

Even before Mr. Reach, the U.S. 
actor who was the star of the CBS 
television senes "Mickey Spillane's 
Mike Hammer.” was sentenced 
Dec. 7 to nine months in prison for 
bringing cocaine into the country. 
London was miking about the mis- 
fortunes of Peter Theodoracopuios. 
an heir to a Greek shipping fortune 
who is better known by the pen 
nam e “Taki" in his columns for 
The Spectator and Vanity Fair. 

Mr. Theodoracopuios had been 
caught at Heathrow Airport with 
23 grams (eight-tenths of an ounce) 
of cocaine and was sentenced In 
August to four months in prison. 


On Dec. 14. he lost his appeal. 
When he is rdeased. which will be 
Feb. 26 at the earliest, the govern- 
ment will expel Mr. Theodoracopu- 
ios. who has a U.S. passport. He 
has sold his house in London. 

Mr. Reach and his secretary. 
Deborah Siede. admitted smug- 
gling 36.7 grams of cocaine into 
Heathrow Airport from Marseille 
last April 3. About 34 grams were 
round inside a can of shaving 
cream, and the rest was found in a 
handkerchief in Miss Steele’s pock- 
et and in two small vials belonging 
to Mr. Reach. 

In court. Mr. Reach said he had 
been regularly using cocaine since 
Iasi January "as a means of trying 
to alleviate exhaustion, trying to 
maintain one’s concentration." 

His attorney said that Mr. 
Reach's marriage had broken up 
partly as a result of his arrest, add- 
ing: "Mr. Reach has made a fool of 
himself. He accepts that be has put 
himself and others at risk, at real 
commercial risk. He is wholly to 
blame. He does not seek to shrink 
from that. He has broken all his 
links with the drug. He had not 
touched it from the moment he was 
slopped. It has been an immensely 
difficult lime." 

Mr. Reach now is one of two 
trusties at the Reading jail and also 


is a librarian and a lay reader in 
church. He could be released as 
early as June 7, and there is specu- 
lation that his television series will 
be revived. 

"I don’t think he got a rough deal 
in terms of the British legal sys- 
tem.” said Jane Goodsir, legal offi- 
cer for Release, an agency provid- 
ing legal advice and drug 
counseling 

“If he had been an ordinary per- 
son." she said, “it would have been 
thought he was involved in a com- 
mercial enterprise, and he could 
have bear sentenced to four or five 


years in prison. But the court obvi- 
ously thought. ‘This is a rich 


man. 

She added that "personally. I de- 
plore the sentence and think it was 
very harsh.” but she noted that 
"there is a strong movement to- 
ward deterrent sentences in drugs" 

Mr. Reach’s appeal of his sen- 
tence was rejected Dec. 18, al- 
though Miss Steele’s three-month 
jail term was set aside. 

Cocaine consumption in Britain 
has soared in the last two years. 
Last November. Detective Ser- 
geant Barry Strong of Scotland 
Y aid’s drug squad testified in court 
that U.S. and Italian organized 
crime chiefs had chosen London as 
a drug capita] because they saw it 



Stacy Reach 


as an ideal distribution point and 
the most lucrative market any- 
where. 

A month before Mr. Reach's 
sentencing Lord Lane, the Lord 
Chief Justice, said the spread of 
cocaine had to be countered by 
long prison terms. 


Lord Wolfenden, British Social Reformer, Dies 


New York Times Service 


LONDON — Lord Wolfenden. 
78, the man who helped change the 
way male homosexuals and female 
prostitutes are treated in Britain, 
dial Friday in hospital. 

An educator and social reformer. 
Lord Wolfenden became a house- 
hold name in Britain as a result of 
his chairmanship of a government 
committee from 1954 to 1957 that 
investigated male homosexuality 
and female prostitution. 

The Wolfenden report recom- 
mended changing the law that 
made male homosexual acts pun- 
ishable by imprisonment — lesbi- 
anism had never been illegal — and 
suggested that prostitution, which 
was not illegal, be allowed to con- 
tinue. 

Lord Wolfenden campaigned 
vigorously to have the committee's 
findings put into effecL but his 
views were considered ahead of the 
times. It was not until 1967 that the 
Sexual Offenses Act legalized ho- 
mosexual acts between consenting 
male adults in private. The act also 
forbade prostitutes to solicit on the 
streets, but allowed prostitution to 
remain legal 

John Frederick Wolfenden was 
born on June 26, 1906, in Halifax. 


Yorkshire, the son of an education 
official. He attended Queens Col- 
lege. Oxford University, and stud- 
ied at Princeton University. 

He became a philosophy teachet 
at Oxford and. at the age of 27. 
became headmaster of Uppingham 
School in Rutland. He was ap- 
pointed vice chancellor of the Uni- 
versity of Reading in 1950. He re- 
tired from that post in 1963 ic 
become chairman of the University 
Grams Committee. From 1969 tc 
1973. he was director of the British 
Museum. He was knighted in 1956 
and became a life peer in 1974. 
Martin Gersben, 60, 

U.S. Reporter, Editor 

NEWARK. New Jersey (AP| — 
Martin Gersben. 60. an award-win- 
ning former reporter, editor and 
foreign correspondent, died Thurs- 
day of lung cancer in Washington. 

Mr. Gershen. who wTote "De- 
stroy or Die — The True Story of 
My Lai." was a 1965 recipient of 
the Ford Foundation Fellowship in 
International Reporting. He re- 
ceived the 1 967 Ernie Pyle Memori- 
al Award for his Vietnam dispatch- 


founded a series of children’s con- 
certs in the 1920s. has died, his 
family announced Tuesday in Lon- 
don. 

Marlin Dzur, 65. a former de- 
fense minister in Czechoslovakia. 
T uesday. according to a Czechoslo- 
vak television report monitored in 
Vienna. 

Jean Colptn, 56. a member of the 
Politburo of the French Commu- 
nist Party. Thursday in Paris. 

Jerome H. Holland, 69. a former 
ambassador lo Sweden and the first 
black member of the board of the 
New York Stock Exchange. Sun- 
dav in New York. 


The Reverend Nidddatsu Fujii, 
99. founder of a modem Japanese 
Buddhist sect and a peace activist, 
of heart failure Wednesday, ii was 
reported in Tokyo. 

Robert Fitzgerald, 74. emeritus 
Boylston professor of rhetoric and 
oratory aL Harvard University, 
whose translations of the Greek 
classics became standard works for 
a generation of scholars. Wednes- 
day in Hamden. Connecticut. 


Ayatollah Khonsari, 98. an Irani- 
an theologian. Saturday in Tehran, 
according to an Iranian news agen- 
cy report. 


■» i 


■»en; 






38 Killed in Air Crash in Eastern Qtma 


es. 


I Other Deaths: 

Sir Robert Mayer, 105. who 


The luw-iitfAt Press 

BEIJING — A domestic airliner 
crashed while landing at Jinan air- 
port in eastern China, killing 38 
people, according to federal avia- 
tion authorities. Two of the dead 
were Americans, a third British. 

The twin-engine, turboprop An- 
tonov-24. built in the Soviet Union, 
was en route from Shanghai to Beij- 
ing when it crashed Friday in 
Jinan, about 220 miles (356 kilome- 
ters) southeast of Beijing. Officials 


gave no explanation for the crash. 

The dead Americans were identi- 
fied by a government airline offi- 
cial as Donald Branford Fox. 45. of 
Nashua, New Hampshire, an engi- 
neer for Hollis Automation: and 
Peter Patrick Barkanic. 27. of 
Washington, a market develop- 
ment manager for the Beijing- 
Washington Ccu the Chinese news 
agency Xinhua reported. The iden- 
tity of the Briton was not con- 
firmed. 


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ESTERNATIONAL HERALD TRIBUNE, MONDAY, JANUARY 21, 1985 


PageS 




2,000 Deaths of Ethiopia Jews 
Reported From Sudan Gamps 


By Judith Miller 

New York Tima Serna 

GEDAREF, Sudan — Al least 
2,000 Ethiopian Jews have died in 
. refugee camps in the eastern Sudan 
since their exodus from Ethiopia 
began last spring, according to Su- 
danese officials and reCef workers. 

It is estimated that 2,000 more 
have been stranded in the Sudan 
since the airlift to Israd was sus- 
pended this month after publicity 
about the secret operation. 

Some of the Ethiopian Jews were 
found at a refugee camp in the 
eastern Sudan last week. One of 
them described his arduous jour- 
ney, the deaths of many friends, 
and his fears about the future. 

Rdkf workers and Sudanese of- 
ficials said that many Ethiopian 
Jews, as weD as non-Jewish refu- 
gees, had died of maln utrition 
measles and other diseases. In re- 
cent months, about half of the ap- 
proximately 25,000 Jew in Ethio- 
pia have walked to refugee camps 
in Sudan, along with hundreds of 
thousands of other Ethiopians flee- 
ing famineL 

The Israeli authorities have said 
that 10,000 Ethiopian Jews were 
flown to Israel in Operation Moses, 
Israel's campaign to save Jews from 
starvation in Ethiopia by taking 
them by plane to Israel The flights 
were suspended on Jan. 6 when 
Sudan withdrew its permission for 
them after Israeli officials con- 
firmed reports of the secret airlift. 

At one camp, Umm Rekuba, 
nearly 1,800 of the 7,000 Ethiopian 
Jews who arrived last year died 
there, many of measles, Sudanese 
officials atm relief workers said. In 
July and August, the camp went 
without food for three weeks, they 
said. 

Most relief workers praised Isra- 
el’s goal of rescuing Ethiopian 
Jews, but they bitterly challenged 
the portrayal of the eft on as a well- 
planned rescue mission carried out 
with almost mOiiary precision. 


One Ethiopian Jew who has not 
been rescued is Abebe, who asked 
that he be identified only by his 
given name. Abebe is a skeleton rtf 
a wan. His wife, \fulu, and their 6- 
year-old daughter, TadeLa, have 
chronic dianhea and stomach 
pains. Guadi, his 3-year-old son, is 
too weak to wipe away the flies that 
cluster around his eyes. 

If all had gone as p lanned, 
Abebe, Mulu and their children 
would have been in Israel by now. 
Instead, they are stranded al a refu- 
gee camp in eastern Sudan. Abebe 
said his family had no food and 
little hope of ever getting to Israel 

Several relief workers said that 
many Ethiopian Jews were actively 
encouraged by some Canarian and 
American Jewish groups to go to 
Israel via Sudan, where conditions 
in die camps were extremely poor. 

Ethiopian Jews had been trick- 
ling into Sudan for months and 
were taken to Israel on boats from 
Port Sudan and by plane through 
Europe, rdieT workers said. But in 
early spring and summer, months 
before the bulk of the Ethiopian 
migration began, Jews began flock- 
ing into Sudan, where refugee 
camps and relief workers were ul- 
p repared for them. 

“They were in the worst state of 
any of the refugees," said one relief 
worker who cared for them in a 
camp in eastern Sudan. Many sat in 
the camps for months, unprepared 
for the Mistering Sudanese heat 
They lacked any concept of the 
nutrition and hygiene needed to 
keep them alive, the worker said. 

At his camp, he continued, the 
death rate of the Ethiopian Jews 
was the highest of any rirfugee 
group — about 15 a day during the 
summer. 

“They hid their identity and 
stuck together," a nurse at Umm 
Rekuba said. “They initially re- 
fused medical help." 

Relief workers said thev did not 


know the location of many of the 
remaining Ethiopian Jews Some 
2,000 are reported to be camped 
near the Sudanese-Ethiopian bor- 
der, where Sudanese officials are 
preventing their entry. 

Abebe said there were many, 
perhaps hundreds, stranded with 
him in his refugee camp, inter- 
spersed among non-Jewish Ethio- 
pian families. 

Virtually all the refugee camps in 
eastern Sudan have been over- 
whelmed by drought and famine 
and by the influx in the last few 
months of 400,000 to 500,000 refu- 
gees, mainly from Ethiopia. 

■ Mubarak Voices Concern 

President Hosni Mubarak of 
Egypt described the reported set- 
tlement of Ethiopian Jews in the 
Israeli-occupied West Bank as an 
“extremely grave" development. 
United Press Internationa] report- 
ed from Cairo. 

Upon his return to Egypt from 
visits to Greece and Italy, Mr. Mu- 
barak said of the airlift of Ethiopi- 
an Jews to Israel: “We are intent 
that this matter should not affect a 
solution of the Palestinian prob- 
lem. But if this leads to the settle- 
ment of the Ethiopians in the West 
Bank, it will be an extremely grave 
matter." 

The Reagan administration ex- 
pressed concern last week over re- 
ports that Israel used U.S. aid mon- 
ey to settle the Ethiopian Jews in 
the West Bank. 

■ 9 M3tion Reported Starving 

Lieutenant Colonel Mengisiu 
Haile Mariam, the leader of Ethio- 
pia, said Friday in a broadcast 
speedi that nine million Ethiopians 
are in a “horrifying condition due 
to famine, raising the number of 
officially estimated drought vic- 
tims by 125 million since early 
December, The Associated Press 
reported from Nairobi 



Th« A moora t d Proa 

VISIT TO CHINA — Mother Teresa, accompanied by an official of the Patriotic 
CathoKc Association of China, arrived Sunday in Beijing. The nisi, a Nobel Peace Prize 
winner, said she hoped that one day she could found a mission in China to aid the poor 
and sick. She is to meet with government experts on religion during her four-day visit 


Train Bombing Kills 33 in Sri Lanka 


The Associated Press 

COLOMBO, Sri Lanka —Tamil 
guerrillas blew up a train en route 
to Colombo, killin g 22 soldiers and 
1 1 civ ilian passengers and injuring 
44, police reported Sunday. 

The blast occurred Saturday 
night as the train passed between 
the Mankulam and Munikandi sta- 
tions, 180 miles (290 kilometers) 
north of the capital police said. 
They blamed the explosion on 
guerrillas fighting for a separate 
state for the Tamil minority in Sri 
Lanka’s northern province. 

A senior government spokes- 
man, who decimed to be identified, 
confirmed that 33 penile were 
killed in the explosion and said that 
the toll could run higher be- 


cause some of the passengers were 
seriously injured. 

It was initially reported that 90 
soldiers had boarded the train at 
KilinochchL, 36 miles south of Jaff- 
na, the capital of the northern 
province. Kalin ochchi is the most 
northern point to which trains have 
been running since guerrillas began 
sabotaging the tracks in recent 
weeks. 

An unconfirmed report said that 
the guerrillas appeared to have 
alerted Tamil civilians who were 
due to board the train at Kilinocb- 
chi, because many of them did not 
get oil 

The train left Murunkan at 7: 10 
P.M. Saturday and had not reached 
Mankulam ai 7:28 P.M. as sched- 


Violent Protesters Force Nkomo to Cancel Campaign Stop 


.1 pence France- Pres e 

CHINHOYI. Zimbabwe — 
Joshua Nkomo, the main opposi- 
tion leader in Zimbabwe, canceled 
a political appearance in this north- 
ern farming town Sunday following 


era of the ruling Zimbabwe 
National Union. 

It was the second time in nine 
days that mob action by ZAND 
members had prevented Mr. 
Nkomo from campaigning on be- 
half of his minority Zimbabwe Af- 
rican People’s Union, which is wag- 
ing an uphill struggle to 'rn^esn 


ZANU in the first post-indepen- 
dence national elections later this 
year. 

At the town of Banket, 80 kilo- 
meters (50 miles) northwest of Har- 
are on the Chinhoyi road, about 
1,000 ZANU supporters blocked 
the road throughout the morning, 
apparently with the intention of 
turning back Mr. Nkomo. 

Many carried dubs, sticks and 
axes, and several held up placards 
denouncing Mr. Nkomo as the “fa- 
ther of dissidents," a reference to 
the rebel gunmen who have been 
waging a more violent campaign 


against the ruling party. Mr. 
Nkomo has consistently denied 
any involvement with the dissi- 
dents. 

Several policemen stood at the 
edge of the crowd in Banket but 
made no attempt to dear the road 
or prevent the crowd from stopping 
cars. 

In Chinhoyi about 2,000 ZANU 
supporters gathered in front of a 
public ball in which ZAPU sup- 
porters were to have mcL The 
crowd broke up after police or- 
dered them to disperse, but numer- 
ous groups carrying clubs and shar- 


pened bicycle spokes continued to 
roam the town for several hours. 

In a telephone interview Sunday 
from bis home in Harare, Mr. 
Nkomo said that he had left for 
Chinhoyi by car but turned back 
after his advance party met him on 
the road and wanted him that the 
town was not safe. 

Mr. Nkomo said his security 
men found the public hall locked 
and the key unavailable when they 
arrived and had been advised by 
police to call off the meeting. 

On Jan. 11, an estimated 10,000 
ZANU supporters forced Mr. 


Nkomo to call off a similar cam- 
paign appearance in the southern 
town of Masvingo when they be- 
sieged him in the town's police sta- 
tion for several hours and stoned 
his car when he left. 

'Hie ZAPU leader has said that 
he would campaign in all parts of 
the country despite threats of vio- 
lence by the ruling party. But on 
Sunday. Mr. Nkomo said he was 
rethinking his campaign strategy. 

“We will have to sit down and 
figure out the whole thing again," 
be said. “But we have to continue 
somehow." 


ul«L The Mankulam stationmaster 
beard an explosion and raised an 
alarm. As the authorities were or- 
ganizing a team to check what had 
happened, the engine of the dam- 
aged train arrived into Mankulam. 
pulling two cars that had not been 
damaged. 

Railroad officials in Colombo 
said that II cars were damaged 
extensively. 

Police at Anuradhapura, 124 
miles north of Colombo, said that 
the 44 injured had been admitted to 
a hospital (here and (hat the bodies 
of seven of the dead were at the 
Anuradhapura Government Hos- 
pital 

According to the police, 25 of the 
injured were soldiers and 16, in- 
cluding a Buddhist monk, were ci- 
vilians. The three other wounded 
were police officers. 

Earlier Saturday, the guerrillas 
New up a road and rail bridge at 
the approach to the northern Jaffna 
p eninsula. The state radio said that 
that would hurt the government's 
efforts to supply essential food and 
fuel to the northern Jaffna district, 
which is populated mostly by Tam- 
ils. 

East German Soldiers Defect 

Reuters 

HANNOVER, West Germany 
— Two young East German sol- 
diers. armed and in uniform, 
slipped over the heavily guarded 
frontier into West Germany with- 
out injury early Saturday, border 
police in Lower Saxony said. 


U.S. Military Chief Finds 
Camaraderie in Beijing 


By John F. Bums 

itffv York rimes Service 

BEIJING — Over dinner in an 
old imperial pavilion here last 
week. General John W. Vessey Jr., 
chairman of the U.S- Joint Chiefs 
of Staff, told the commander of 

China's 4J2-mfllion-mnnber army 
that it was “good for ordinary sol- 
diers" like themselves to eat the 
son of food served to emperors. 

The remark brought a smile to 
the face of Yang Dahl a survivor 
of more than half a century in Chi- 
na’s highly politicized armed 
forces. No less than General Ves- 
sey, he knew how much more than 
common soldiering had brought 
the two men together at a lakeside 

pavilion in Beijing. 

Not since the two armies fought 
each other in Korea 30 yeans ago 
have Americans had the close look 
at Chinese capabilities that Gener- 
al Vessey and his officers were giv- 
en during their weeklong visit here. 
Nor has there been a similar oppor- 
tunity for Pentagon professionals 
to study the entanglement of fac- 
tors that have driven China to seek 
a military understanding with the 
United Slates. 

When the members of the U.S. 
party left Guangzhou for home on 
Saturday, they had spent many 
hours discussing strategy, tactics 
and weaponry. General Vessey had 
lectured at C hina’ s top military 
academy, watched infantry, artil- 
lery and aircraft fighting a mock 
battle across the northern China 
plain and cruised down the 
Huangpu River in Shanghai past a 
flotilla of destroyers, frigates and 
submarines. 

In meetings and over 1 0-course 
banquets, officers on the two sides 
swapped experiences of battle in 
Korea and Vietnam. For the two 
commanders, the ironies were per- 
haps more palpable than for any- 
body else. General Yang first en- 
countered U.S. troops in Korea, 
where be was deputy commander 
when Chinese troops were employ- 


ing “human wave" tactics against 
U.S. positions. A quarter of a cen- 
tury later. General Vessey com- 
manded U.S. troops in Vietnam. 

Behind the camaraderie lay po- 
litical and military considerations 
of the first importance for both 
sides. By Jar the most weighty of 
these was the one that was barely 
mentioned in the public speeches, a 
common desire for the strongest 
possible counterbalance to Soviet 
military power. Chinese and U.S. 
reporters covering the visit were 
accompanied most of the time by 
only one other reporter, the Mos- 
cow representative of the Soviet 
news agency Tass. 

U.S. officers who spoke to re- 
porters on a background basis said 
that apart from arrangements for a 
port call to Shanghai in April by 
U.S. warships, little of a practical 
nature was accomplished during 
the talks. The implication was that 
the U.S. purpose in making the trip 
was symbolic, to remind the Soviet 
Union of the strategic disadvan- 
tages if faces as long as its policies 
make common adversaries in 
Washington and Beijing. 

General Vessey alluded to this in 
his farewell speech in Beijing when 
he said that UJS.-Chinese military 
ties “threaten no third party.” it 
was a point that General Yang 
passed by in his reply, but U.S. 
officers said that private discus- 
sions left no doubt as to the Chi- 
nese commanders' preoccupation 
with the 50 Soviet divisions sta- 
tioned along China's northern 
frontier and with the projection of 
Soviet military power elsewhere in 
Asia, notably in Af ghanistan. Cam- 
bodia and Vietnam. 

For the Chinese, having General 
Vessey in the country had its dem- 
onstration value. But behind this 
lay the pressing concern to mod- 
ernize Chinese forces. The C hinese 
have taken stock of their weakness- 
es and launched a program of arms 
procurement- In this, they look 
more than anywhere else to the 
United States. 


Deng Sees Little Risk From Capitalism 


Reiners 

BEIJING — Deng Xiaoping, the 
Chinese leader, told a Hong Kong 
businessman on Saturday that Chi- 
na’s opening to the world would be 
a failure if capitalism took over, but 
that he did not foresee such a devel- 
opment. 

“Under this policy, some capital- 
ist stuff may get into our country." 
Mr. Deng told the businessman. 
Lord Kadoorie, who came to Beij- 
ing to sign a joint-venture agree- 
ment last Friday for China’s first 


nuclear power plant. “But the so- 
cialist force will become stronger." 

Mr. Deng, wbo was quoted by 
the official Xinhua news agency, 
said: “Some people worry that Chi- 
na's open policy might lead to capi- 
talism. If that should come true, it 
would mean the failure of our po- 
licy. We don’t think that would 
happen." 

He also said that China’s policy 
of opening to the outside world 
would not change in this century or 
in the first half of the next. 





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INTERNATIONAL 

i 

TUh The N** York Tin* and ThTuW 


Srtbune 


A Familiar President 


in ™f a 3S i 1 ?P gdy moment in Wash- 
A preadent was sworn in Sundav, bai 
a second-term president and, 
K “P’S” 1 ? b f ca »« he is Ronald Reagaa 

We say this only by way of noting 
famiIiarit y and natural 
ness to the proceedings, and to the man. 

we. all of us, know Ronald Reagan. We 
know bnn as an authentic mdividualperonal. 
uy at peace with his own strengths and limita- 
pons, as a man with remarkably little distract- 
ing pride, bias or bile, and as one who in his 
first four years delivered, or at least tried tc 
dajyer, what he had promised. 

These qualities have not stifled all political 
debate in the land — far from it — but they 
rawe produced a pervasive mood of acceptance 
of his power. His supporters celebrate it, while 
most of those who did not support him in 
November grant the validity of his victory as 
a victory and not a fluke. This is in its wav 
his biggest triumph of alL 
It is worth recalling the tone in Washington 
four years ago. The president leaving the 
White House had won respect for some of his 
personal qualities and accomplishments (his- 
toiy win treat him better in years to cornel, but 
the consensus judgment was that he had failed 
to use the powers of the office decisively and 
consistently, and it bad cost the country. 

Who can forget the bittersweet resolution ol 
the hostage crisis during the very moments 
that Mr. Reagan was taking his oath? He came 
down from the stand and it was a new situa- 
tion: The country was hostage no more. 

The more serious and creditable thing , how- 
ever, is that Mr. Reagan has largely sus tained 
tips spirit. Some of it, to be sure, he has done 
with mirrors. Five Americans are hostage to- 
day in Lebanon, where Mr. Reagan conspicu- 
ously invested and then insouciantly disin vest- 
ed American prestige; neither for the five not 
for the larger policy failure has he beat taxed 
severely. SdU, calls for a display of “will and 


moral courage,” in his words, have faded, 
chiefly because in thejadgment of most people 
the president has displayed them. He was 
lucky, but he made a good part of his luck. 

Four years ago, too, there was a widespread 
sense that Jimmy Carter had let a great sick- 
ness — inflation — seep through the country- 
inflation was described by a dedicated Rea- 
ganite as “the transcendent issue of our tones-' 1 
It seemed the result not merely of policy 
choices and international conditions but, 
again, of a shortfall of presidential resolve. 

Mr. Reagan's economic policies remain, de- 
servedly, under sharp attack in many quarters. 
Yet it is undeniable that inflation has been 
mercifully trimmed and that the substantial 
economic and social strains that still. bedevil 
the United States are more easily handled 
within the traditional political context. 

Oddly, the president has abdicated the usual 
presidential responsibility to stand at the eco- 
nomic helm. Given his gorial bent for discred- 
ited economic theory, however, there is a cer- 
tain cheer that be is taking a holiday. This is 
one of the astonishments of the Reagan presi- 
dency: Leadership is there, or seems to be 
there, even when it is not hooked up to policy. 

Mr. Reagan entered the White House four 
years ago very much identified with one end of 
the political spectrum. Politically, his achieve- 
ment has been to bold most of his original 
base, as disgruntled as pans of it may be, while 
gaining the acceptance, or at least the toler- 
ance. of other quarters. 

Thai he won bigger in 1984 than in 1980 is 
the most substantial tribute the system pays to 
this kind of performance. It suggests that, as 
biueriy as some have opposed him, he has 
succeeded in the large purpose of becoming 
president of more of the people. This be has 
done with an office that, before be held it, was 
said to be a shrinking cage for its successive 
inhabitants. Mr. Reagan has renewed the pos- 
sibilities of the presidency. 

— THE WASHINGTON POST. 


Scorning the 

Strictly speaking, there bring no world gov- 
ernment. there is no such thing as world law. 
There is no parliament to write the law and no 
policeman to enforce it. Yet there sits this 
thing called Lhe World Court, pretending for 
much of this century not only to adjudicate 
some disputes between governments but also 
to define some norms of international behav- 
ior and rights of nations, even some individ- 
uals. It is a strange but real institution. 

The anomaly persists because without the 
pretense of world law, there can be. strictly 
speaking, no “rights" of the United States or 
other nations. At the borders where our laws 
stop and someone rise's laws begin, there is 
a dangerous legal gap. 

The gap can be as thin as a candy-striped 
guard rail or as wide as an ocean. Whatever its 
size, the gap is a realm of anarchy, of potential 
barbarity — except as nations voluntarily 
write contracts, or treaties, and submit to a 
higher order. This quest for higher order has 
been dignified with the name of international 
law. It, too, is strange but palpably useful 

Since observing such law is voluntary, so is 
submitting to the World Court that defines 
■ and applies it Nations aspiring to live less like 
beasts in tbe jungle hesitantly submit to the 
court and uy, by the force of their example, 
to prove that rational argument and codes of 
conduct can to some extent become a substi- 
tute for international pillage, piracy and mur- 
der. Until last week, the United States was one 
of this minority of nations. 

Now, because it is ashamed of the rationale 
for its violence against Nicaragua, the United 
States has refused to defend itself, and in 
particular the mining of Nicaragua's harbors, 
before the World Court. Indeed, the Reagan 
adminis tration sees profit in its petulance. To 
play the bully, it reckons, may actually make 


World Court 

its violence more effective. And being the most 
powerful beast in the jungle, it thinks it loses 
little by thus diminishing the World Court. 

But it is angrily striking at a great many 
things that are worth cherishing. 

To have tried, even vainly, to justify the 
violence against Nicaragua before the court 
would have shown a decent respect for the 
Opinions of mankind 

To have let a band of Nicaraguan Marxists 
^ Lineage a superpower to a legal duel would 
have demonstrated honor and idealism to the 
multitudes who cynically equate the United 
States with that rapacious other superpower. 

To have kept on flattering tbe pretenses of 
the court and of international law would have 
enhanced their authority, and cleaned another 
tiny patch of the path out of the jungle. 

To have submitted to the court’s judgment, 
even with the possibility of later ignnring 
it, would have dramatized a yearning for a 
superior order in which peoples surrender their 
“sovereign" right to murder other peoples to 
the kinds of institutions they readily accept 
inside their frontiers. 

Yes. there was a legitimate doubt whether 
Nicaragua had proper standing, under present 
rules, to bring this case before the World 
Court. And there is, always, a serious doubt 
whether all the court’s judges are sufficiently 
independent of their governments’ policies. It 
can also be argued that the court was never 
meant to have jurisdiction over warfare that at 
least one of the parties regards as an riemental 
right of self-defense. 

Having mad*, and lost, the first of these 
points, the United States now merely asserts 
the others, and thumbs its nose at the court. 
The world will not be changed by this defi- 
ance. That is why it is wrong. 

— THE NEW YORK TIMES. 


Other Opinion 


V-E Day: A Proper Celebration 

There is more than routine confusion and 
muddle in the [British] government’s reluc- 
tance to organize a celebration of (he day when 
Nazi Germany was finally defeated. That day 
— May 8, 1945 — was, in Churchill’s words, “a 
splendid moment in our great history and in 
our small lives." As a landmark in European 
history, tire defeat of fascism must surely rank 
as a more important event than the Normandy 
landings, for the successful outcome of a great 
endeavor must be more significant than the 
means taken to achieve it 

Yet while the D-day anniversary was cele- 
brated on a royal scale, V-E Day would have 
slipped by almost unnoticed in this country 
had it not been for pressure from the Social 
Democratic Party and subsequently from 


many other groups. How can one account for 
this discrepancy? The first (rather cynical) 
answer is that President Reagan is not running 
for re-election this your. Second (and more 
important for the British government), the 
Soviet Union was not involved in the Norman- 
dy landings, but was very much involved with 
the victory in Europe against Nazi Germany. 

It can smely do no harm to recall that the 
Soviet Union has not always been cast as our 
enemy and was actually our close ally within 
living memory. A way must be found to seize 
tbe opportunity before the Kremlin uses our 
reluctance as another stick with which to beat 
the West. The Russians have every right to 
take part in a joint celebration of a joint 
victory and a joint (and enduring) peace. 

— 77if Observer (London). 


FROM OUR JAN. 21 PAGES, 75 AND 50 YEARS AGO 


1910: ILS. Meat Boycott Gains Steam 
NEW YORK — Fasting is coming into vogue 
as the best means of protesting against in- 
creased food prices. “Don't eat meat!" is the 
cry in the Middle and Western states. “Let's be 
vegetarians!” WA Rogers’s cartoon in the 
New York Herald [on Jan. 20] shows an army 
of meat strikers assailing a cold storage house, 
on the roof of which is a horned giant, repre- 
senting the Beef Trust, smiling at the demon- 
stration. The anu-Beef Trust movement ex- 
tends from Pennsylvania to the Rocky 
Mountains. New York, the New England 
States and most Southern States have not yet 
figured prominently in tbe campaign. Many 
States are pushing investigations into soaring 
food prices. It is predicted that unless condi- 
tions improve, millions will join the boycotts. 


1935: Saving Face Tlmw^ Owwifatt y 

PARIS — Despite new literary admonish- 
ments of possible danger in fighting time with 
chemical warfare, were there ever so many 
ways of saying face — so many lotions, hor- 
mones. skin diets, muscle finners, wrinkle 
smoothers, astringents, evening bases, lun- 
cheon creams, showerproof rouges, vanishing 
eyelashes, cocktail lips, carnage-colored tal- 
ons? What would beauty be in the raw today? 
The preparation of the person for public view 
grows more scientific. Rarely in the past did 
ladies consent to proclaim their reliance upon 
beautifiers. Nor was it tbe custom in more 
gallant periods to make gifts of remedies for 
natural defects — no suitor of lace valentine 
days would have sent Ms mistress a jar of turtle 
glands, a neck food or a kissproof lipstick. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HA Y WHITNEY, Chairma n 1958-1982 
KATHARINE GRAHAM. WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chairmen 


PHILIP M. FOIS1E 
WALTER WELLS 
IOBERT K. McCABE 

2aRL GEW1RTZ 


LEE W. HUEBNER. Pubhshtr 

ExmOtve Editor RENt BONDY Denary Publisher 

Editor ALAIN LEOOUR iixwdon* Pubtuher 

Damn Editor RICHA RD EL MORGAN Auadatc Publisher 

Dtputy Editor STEPHAN W. CONAWAY Director of Ooaatom 

Aaaaatt Editor FRANCOIS DE SMA ISQNS Dmetar of Gradation 

ROLF D. KRANEnJHL Duxaor of Attrenumr Seta 


Dtrtaor of Adrauing Seta 

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Acclamation 
ForaMaster 
Of Illusion 


By James Reston 


ASHTNGTON — Ronald Rea- 
gan had not only Washington 
but the world for his stage this past 
weekend. In the long history of tbe 
theater, no other actor ever bad such 
a chance to play the triumphant hero 
before such an audience. 

The capital has been stirring with 
the strains of “Had to the Chief," and 
while nobody knows the words, ev- 
erybody is ringing the praises of the 
central character and counting his 
successes, forgetting all else. 

In opposition to the theory of that 
distinguished philosopher, Leo Dur- 
ocher, the president has proved that 
nice guys finish first; and also, in 
defiance of biblical prophecy, that 
life doesn't end, but can begin again, 
at threescore years and ten. 

Mr. Reagan has demonstrated 
some other things: that the world of 
illusion is more popular than the bru- 
tal world of reality, and that the 
promise of success is almost as potent 
as success itself. The crowds in these 
snowy streets are full of his political 
critics, but nobody is mad at him, not 
even Tip CNeOL the speaker of the 
House of Representatives. Governor 
Mario M. Cuomo of New York was 


political performance in memory. 

There are many who think it was a 
triumph of television in a nation of 
watchers who prefer the superficial to 
the truth, but nobody is saying any- 
thing like that around here during the 
parades and the parties. 

Even the newspapers that < 

Mr. Reagan's re-election and i 
many of his policies are getting out 
special inauguration editions pro- 
claiming his amiable qualities. 

He breaks almost every rule in the 
political bock and gets away with it- 
For example, he has almost wrecked 
the presidential news conference that 
the papers buflt up over 50 years, and 
he makes no effort to be evenhanded 
in his partiality toward television, but 
this has not hurt him either. 

The same is true of his diplomacy. 
No world leader, not even Winston 
Churchill at the height of his anger, 
ever addressed tbe Russians in such 
provocative terms as Ronald Reagan, 
but even his most venomous remarks 
are usually said with a smile, and. 
unlike most of his predecessors since 
Roosevelt, be has not allowed himself 
to become paranoid about his critics. 

He did what every serious political 
leader should do: He came to power 
challenging the assumptions of the 
apposition. He not omy challenged 
the Welfare State, but even gave the 
word “welfare" a bad name. 

He vilified tbe Democrats for their 
policies of “tax and tax, spend and 
spend" but substituted his own poli- 
cies of “borrow and borrow, spend 
and spend" and piled up more debt 
than any president in history. 


□rawing by Si** Mendshon, Tht WaOmgion Pw. 


But be got the inflation rate way 
down, and as of his second Inaugura- 
tion Day more than 108 million 
Americans, half of them women, 
have jobs. Somehow, he has managed 
to dramatize his successes and mini- 
mize his failures in the fields of hu- 
man rights and human compassion. 

It is in the field of personal rela- 
tions and human psychology, howev- 
er, that he has had his greatest tri- 
umphs. He caught the imagination of 
the people the way Dan Marino and 
Joe Montana did on their way to the 
Inauguration Day Super Bowl. 

Watching the president and Ms 
lovely wife, the people fed that the 
play s the thing, mat life can be beau- 
tiful and even if it isn't, Mr. Reagan 
says it may be later on. 

This at least was the mood in the 
capital as the bands and hundreds of 
parade horses and tens of thousands 
of people lined the streets, tramping 
through the snow in the parks in a 
vast national festival. 

Mr. Reagan did make a difference 
in the spiritual landscape of tbe na- 
tion, not through but despite the reli- 


giosity of some of his leading sup- 
porters. He restored more hope and 
confidence, sometimes without sub- 
stance, and he made ev en many skep- 
tics feel that it was not unreasonable, 
though still highly disputable, that 
maybe, just maybe, his economic and 
defense policies would work. 

There are many here who will insist 
that what we have seen in the last 
couple of years was not a great or 
even a competent administration, but 
a series of great performances that 
made the people feel better, leading 
to a spectacular victory and finally to 
the marching songs and romantic 
spark here in the capital. 

For the time being it does not mat- 
ter that theater has replaced govern- 
ment. What shook the people for a 
time was a vague sense of the ground 
shaking and of a grayness in the sky. 
Ronald Reagan has turned up the 
lights and the music, and for this 
corner of the world right now that 
se good enough. This week it is 
“Hail to the Chidr; next week h will 
be “hell to the chief." as usual. 

The New York Times. 


Reagan at Midpoint: 
A Revived Presidency 

By Joseph Kraft 


W ASHINGTON — Jimmy Car- 
ter limped out of the White 
House complaining of “the attrition 
of the presidency. Ronald Reagan, 
after his re-election, exulted: “It’s 
only the beginning.” 
the two comments express a well- 
nigh universal perception that Mr. 
Reagan has revived a great office of 
state. But why has be been such a 
tonic for the job? .And how long will 
the recovered presidency endure? 

Personality explains much of the 
transformation. Likable presidents. 
From Franklin Roosevelt through 
John F. Kennedy, gave the office its 
good name in the modern period. Mr. 
Reagan is by far the roost attractive 
figure to serve in the While House 
since Mr. Kennedy. Face-to-face, he 
radiates charm. In public appear- 
ances, he beams with good will. Even 
when he tails tough, he is not threat- 
ening. So he attracts good feeling to 
himself, and much of it rubs off 
on the presidency. 

Ability to communicate well with 
an audience of millions also counts 
for a Iol Lyndon Johnson was over- 
bearing. A sinister element figured in 
everything Richard Nixon ever said. 
Gerald Ford bumbled. Mr. Carter, a 
moralist, never set clear priorities. 

By comparison. Mr. Reagan has 
picked a very few themes — cutting 
taxes, shrinking government, stand- 
ing up for America, and the old val- 
ues. All of them command huge ma- 
jorities to start: they are further 
enhanced by sophisticated marketing 
techniques. Then Mr. Reagan makes 
them his own priorities either in well- 
delivered speeches of sparkling prose, 
or. even better, by dramatic actions 
such as via ling the Normandy beach- 
es on the 40th anniversary of D-Day. 

ideology reinforces darity. Not 
many Americans share Mr. Reagan's 
enthusiasm for supply-side econom- 
ics or the devil theory of Soviet com- 
munism. But a leader armed with 
such views gives the appearance of 
no-nonsense cold-turkeyistn. Ameri- 
cans in recent years have come to 
prefer that kind of blind commitment 
to the ambiguous opportunism that 
marked the performance of most re- 
cent presidents. 

Luck, never far from the fate of 
leaders, as Machiavelli reminds, 
made it safe to be ideological Deaths 
in the Kremlin left Mr. Reagan un- 
tested by a solid Soviet leadership. 
The U.S. economy rebounded from 
die worst postwar recession with 
great force and at a time — 1983-84 
— that put Mr. Reagan's somewhat 
dubious theories and performance 
beyond practical questioning. 

But luck, as Branch Rickey used to 
observe, is the “residue of design.” A 
special feature of the Reagan admin- 
istration has been a capacity to avoid 
getting hooked on long-term losers. 
One cannot imagine this president 
caught up in the toils of a Vietnam, or 
a Watergate, or a presidential par- 
don, or an Iranian hostage crisis. 
More than any past president I can 


remember, Mr. Reagan has devel- 
oped the trick of avoiding disaster. 

The president himself is the visible 
part of (he trick. As a skilled actor, 
□ever deeply involved in the sub- 
stance of policy, be can change direc- 
tion rapidly without giving the im- 
pression of change. Lebanon, of 
course, is tbe shining example. One 
day Mr. Reagan was insisting that a 
strong U.S. stand in Beirut was a test 
of Lhe country's fidelity to allies ev- 


The odds are good, at 
least for now, for a 
successful second term 
and a continuing glow 
around the presidency. 


erywhere. The next day he ordered 
what amounted to an ignominious 
retreat. But he was off the hook. As it 
happened, the jumble of bits and 
pieces in Lebanon maintained a 
screen of confusion that covered the 
American bug-out. 

Similar turnarounds took place 
less dramatically. Mr. Reagan went 
back on his enthusiasm for Taiwan in 
agreeing to a Chinese proposal that 
U.S. arms shipments to Taipei level 
off. He bowed to dovish opinion in 
toning down the anti-Soviet rhetoric 
of the first three years. 

If acting skill is necessary up front, 
somewhere out of sight there is sensi- 
tive perception. Many While House 
staff people, notably James Baker, 
Michael Deaver and Richard Dar- 
man, were quick to spot banana peels 
and edge the president away. 

Secondhand reports from the 
White House indicate that Nancy 
Reagan has been particularly allergic 
to developments that might make the 
president look bad. She evidently 
played a key role in the removal of 
Alexander Haig as secretary of state 
(Because of Lebanon) and William 
Clark as national security adviser 
[because of Central Africa). 

A weakening of this anti-disaster 
mechanism is one change already evi- 
dent as the second Reagan adminis- 
tration takes shape. With the depar- 
ture of Mr. Deaver, Mrs. Reagan has 
lost her main pipeline to the staff. 
Sensitivity to advance trouble is thus 
doubly diminished. 

That falling-off could be important 
if tbe luck breaks. A Reagan adminis- 
tration that did nothing about closing 
the budget deficits coold go over the 
cliff. But as the second term begins, 
tbe perils of high deficits, high inter- 
est rates and high trade imbalances 
are all too apparent Opportunities 
are equally apparent The adminis- 
tration is on the high road to arms 
control and tax reform. So the odds 
are good — until 1987 at least — fora 
successful second term and a con- 
tinuing glow around the presidency. 

Las Angeles Times Syndicate. 


Violence in India: What’s Gone Wrong? 


N EW DELHI — For the world, 
1984 may not have been the 
nightmare George Orwell predicted. 
But for India it was the most trau- 
matic year since the partition riots. 
Tbe land of Gandhi and Buddha has 
become a land of rampant violence 
and venomous dealings. 

Tbe 1983 massacres in Assam 
were a grim forewarning of what 
was to come, yet they did not im- 
pinge on lhe national conscience as 
much as they should have. To many 
Indians, the northeast seems remote 
and the issues confusing. Distance 
and complexity are often conve- 
nient shields against ugly reality. 

But the killings, arson and looting 
last year in Demi and elsewhere are 
something else. Reports of people 
being speared, hacked to death or 
shot with bows and arrows — as in 
Assam — sounded primitive and 
unreal But what happened in In- 
dia's capital will not be erased from 
memory for a long time. 

People were dragged from vehi- 
cles or out of their homes, blud- 
geoned, then set afire. If, in early 
1984, when Sikh terrorists were 
wreaking havoc in Punjab, the sym- 
bol of violence was the bullet, then 
in May in Bhiwandi and in Novem- 
ber over much of northern India it 
was tbe match. We Indians have 
become a very violent people. 

What has gone wrong? Why is 
violence surfacing so often and with 
such brutality? we need to find out 
urgently because it threatens our 


By N.M. Khilnani 


democratic system as never before. 

Prime Minister Margaret Thatch- 
er’s declaration in October after the 
attempt on her life — that what men 
of violence wanted was an end to 
democracy — should be kept in 
mind. Terrorism most not be al- 
lowed to separate political leaders 
from the people, the British leader 
said. Fortunately, Indira Gandhi's 
assassination has not deflected the 
country from its democratic path; 
ejections were held on schedule last 
month. But the root causes of vio- 
lence must be exposed and tackled. 

Prime among them is (he deterio- 
rating machinery of law and order. 
One of last year’s bigger hits in In- 
dia was a film called “Aaj Ki 
Awaaz" (Today’s Voice). It is the 
story of an idealistic young profes- 
sor who moves to Bombay and dares 
to oppose a gang of hoodlums who 
terrorize his neighborhood. To in- 
timidate him, the gang rapes his 
sister (who then commits suicide) 
and kills his mother before his eyes. 
Convinced that he cannot get justice 
from a corrupt police force and inef- 
fective courts, he decides to take the 
law into his own bands. He learns to 
use a gun and brutally kills every 
member of the gang 

But it is not the brutality, which is 
bad enough, that is so worrying. 
What is worrying is the audience 
reaction. When this writer saw the 


film, every time the hero railed 
against police corruption the audi- 
ence burst into applause. When the 
hoodlums bit the dust, blood pour- 
ing, the audience cheered. 

Tbe hero, brought to trial pleads 
that he was justified in murdering 
the gang members because he could 
not have obtained justice through 
the police and court system. Incredi- 
bly, the judge agrees, and frees him. 
Thai received the loudest applause. 

Such reactions are not just dan ger 
signals. They are evidence of the rot. 
In some affluent parts of Delhi, resi- 
dents have banded together and 
backed the formation of what 
amount to vigilante squaos. Other 
citizens are acquiring guns — and 
there are plenty of them, licensed 
and illegal, floating around. 

Other insidious elements have 
grown unchecked in Indian society. 
Corruption is widespread. There 
was a time when India took pride at 
being among the least corrupt of the 
developing nations. No longer. 

Cynicism, callousness and, ulti- 
mately, violence are the logical out- 
come of such moral decay. 

There are many causes of violence 
and the brutalization of society. 
Two world bodies, Eartbscan and 
the International Institute for Envi- 
ronment and Development, have in 
recent reports linked the growing 
violence in many Third World coun- 
tries to “environmental degrada- 
tion” and the competition for a di- 
minishing share of renewable 



resources. Their thesis is that factors 
such as soil erosion, deforestation, 
lhe rise in population, and migra- 
tion to tbe cities create pressures 
that lead to political repression and 
violence. Thus the Punjab crisis, the 
Hindu-Moslem riots in Bhiwandi — 
and. more recently, the afte rmath of 
Mrs. Gandhi’s killing — are not 
unrelated to environmental woes. 

Fortunately, an immense reser- 
voir of idealism and compassion still 


Otwog by Stone Mmkfaoi. Wofaingtan Pan. 


survives in India, particularly in Lhe 
large number of volunteer social ser- 
vice organizations. The potential for 
good must be tapped, not just to put 
out the flames and beal the wounds, 
but to generate an ethos where vio- 
lence and brutality have no place. 

The writer, a consultant to the Indi- 
an Ministry of Home Affairs, contrib- 
uted this comment to the Internation- 
al Herald Tribune. 


Yalta Plus 40: A Path to a Larger Notion of Europe 


W ASHINGTON — The big 40th 
anniversary being observed 
this year is that of V-E Day, the 
Allies’ World War II victory in Eu- 
rope over Nazi Germany. In the 
West, some of those p lannin g the 
observance wish to stress the themes 
of peace and recondlianon in order 
to find a gracious role for the new 
Germany. Others would stress tbe 
aspect of Soviei-American wartime 
cooperation in the hope that some of 
it will rub off. It is a delicate exercise 
in political triangulation. 

But there is a much more impor- 
tant 40th anniversary in 1985 — that 
of Yalta, the Crimean conference in 
February 1945 between Roosevelt. 
Churchill and Stalin, V-E Day, after 
alLis over: Its commemoration mere- 
ly imparts a transient emotional 
thrust to selected memories. 

Yalta has come down to us as tbe 
symbol of what some call the betrayal 
of Eastern Europe but which better 
deserves to be called the division of 
Europe between Soviet and Ameri- 
can spheres. The result is the living 
scene. Commemoration of the event 


By Stephen I 

that produced it has a potential for 
launching a set of ideas directed at 
healing and reuniting Europe, with- 
out loss to either great power. 

Precisely this ambitious goal has 
been defined by Zbigniew Brzezinski, 
President Carter's national security 
adviser. In a seminal, deeply humane 
article in Foreign Affairs, and in oth- 
er forums, he has been waging some- 
thing of a campaign to put the pur- 
poseful revision of Yalta back on the 
political agenda of East and West for 
the next 10 or 20 or more years. 

Some will say that the Polish-bora 
Mr. Brzezinski is just looking for a 
way to stick it to the Russians and, 
after that, to the Germans. 

They are wrong. Mr. Brzezinski is 
locating Poland in the angle compre- 
hensive Europe of common culture 
and history that existed for hundreds 
of years before Yalta, it is that large 
and ennobling idea of Europe, free of 
domination by outside powers, that 
Mr. Brzezinski is attempting now 
to recall and to renew. 


L Rosenfeld 

Mr. Btzezinski is a hard-liner. Bui 
he understands, as Europeans do, 
that nothing “European” can flourish 
and endure in Eastern Europe that 
Soviet officials see as cutting across 
their vital interests. This leads him to 
policy prescriptions that take legiti- 
mate Soviet interests into account. 

Most people assume that Europe is 
divided ana will stay so indefinitely 
— and that, given the specter of a 
reunited Germany, it is better that 
way. To the extent that such people 
ai visage change, they leave it up to 
some vague and automatic process or 
history. The notion that policy can 
make a major difference is not part of 
the political lexicon. 

Mr. Brzezinski thinks otherwise 
He believes that the division of Eu- 
rope is untrue to history and destiny 
and that, furthermore, it is unstable: 
It locks the Soviet Union and the 
United Slates into a confining and 
dangerous competition that neither 
can win and both have reason to end. 
This is his strategy for the West: 


1. Repudiate, as early as next 
month, “Yalta’s burden" of the parti- 
tion of Europe, and proclaim the ide- 
al of an independent, nonthreaten- 
ing, self-expressing Europe. 

2. Reconfirm the 1975 Helsinki 
Accords, useful instruments of the 
European idea, in order to provide 
reassurance that the existing territori- 
al frontiers are permanent 

3. Draw East Europeans into par- 
ticipation in all-European bodies on 
every matter possible. 

4. Have west Europeans — not 
Americans — take over providing aid 
to East Europeans struggling, peace- 
fully, for political emancipation. 

5. Shrink the U.S. role and enlarge 
the European role in conventional 
defense — not in spite of but as a 
deliberate strategy to promote a Eu- 
rope “less in conflict" with Moscow. 

Mr. Brzeanski's idea is not beyond 
criticism, but it tackles the whole of a 
large question that most others ad- 
dress only in parts and it offers a path 
from here to there: from Yalta to 
Europe as it could be again. 

The FFurAfagron Post. 


LETTER 


A Mideast Solution 

Fadi Khaled Agha, in his letter of 
Jan. 12, commented on my statement 
(in “ A Mideast Solution Must Come in 
the UN. ” Dec 24) that the search for 
a peaceful settlement in the Middle 
East must be pursued in the Security 
Council of the United Nations. 

He said that he doubted that “the ■ 
Israeli government is able or willing 
to achieve any land of trade-off with 
Israel's Arab neighbors.” 

It is because I believe that neither 
side is able or willing to give way that 
I have advocated reference to die 
Security Council, in 1967 we 
achieved a unanimous agreement in 
the Council. We should surely make 
another endeavor now. 

If we wait for agreement between 
the two sides, we shall wail till disas- 
trous conflict comes. The response to 
national confrontation should surely 
be international intervention. The Se- 
curity Council has the opportunity 
and the obligation and the means to 
work for a fair solution , 

HUGH CARA DON. 

London. 





~r 



INTERNATIONAL HERALD TRIBUNE, MONDAY, JANUARY 21, 1985 


Page 7 


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Highs, Lows Forecast lor Reagan Foreign Policy 


By Don Podesta 

Washing ion Peat Service 

WASHINGTON — The agree- 
ment to renew U.S.-Soviet arms ne- 
gotiations has improved President 
Ronald Reagan’s standing in the 
eyes of Western Europe and opens 
a new chapter in relations with 

Moscow. 

But in the rest of the world, ac- 
cording to reports by Washington 
Post correspondents, the outlook 
for President Reagan's second term 
brightens or dims according to re- 
gional problems and points of con- 
tention. 

For Western Europeans, the re- 
newed U.S. -Soviet talks have re- 
moved or at least reduced one of 
the most likely sources of friction 
within the Atlantic alliance. 

Western Europeans, while gener- 
ally supporting Mr. Reagan's ftrst- 
term commitment to strengthening 
Western defenses, were disturbed 
by what they saw as his lack of 
sophistication in world affairs and 
his adminis tration's seeming in- 
ability to conduct serious negotia- 
tions with Moscow. 

Added to this was the specific 
concern of Britain and France, the 
two West European countries with 
independent nuclear deterrents, 
over President Reagan’s plans for 
constructing a strategic defense 
system in space. 

French and British leaders fear 
that their nudear forces would lose 
credibility if the two superpowers 
push ahead with deployment of 
such ami-ntissOe systems. A related 
worry is that defense of the United 
States would no longer be coupled 
with that of Western Europe. 

By agreeing at least in discuss 
space weapons with the Soviet 
Union, the administration has de- 
fused the Europeans’ immediate 
concern and made it less likely that 
Moscow wQl succeed in its pre- 
sumed aim of driving a wedge be- 
tween the allies on the subject. 

The most vociferous supporter in 
Europe of a second Reagan term 
has been Prime Minister Margaret 
Thatcher of Britain. In a major for- 
eigD policy speech shortly after 
President Reagan's re-election, she 
congratulated Americans for prov- 
ing “once again something which I 
believe to be as true of politics as it 
is of television: AH the best pro- 
grams run for more than one se- 
ries.” 

Comments by other West Euro- 
pean leaders on Mr. Reagan’s re- 
election have beat more guarded 
and, in many cases, adored by 
fears that die U.S. economy might 
run into difficulty during the sec- 
ond term. 

Raymond Barre, a former 
French prime minister, said he 
hoped President Reagan would 
succeed in reducing “the deficit, 
whose consequences could be seri- 
ous for ihe international economy 
as weD as the American economy. I 
hope that the dollar, which is un- 


doubtedly the international curren- 
cy at present, will joy a great 
stability, which is indispensable for 
the harmonious development of in- 
ternational trade.” 

Before the Geneva meetings, 
Moscow seemed dubious about 
prospects for any new stances by 
the Reagan administration. Now, 
however, both sides appear to have 
summoned the political will to 
move to the next stage in their 
relations. While not wholly per- 
suaded of Mr. Reagan's credentials 
as a true believer m arms control, 
many Soviet officials dearly are 
relieved that, if nothing else, both 

sides are talking a gain 

Foreign Minister Andrei A. Gro- 
myko said in Geneva: “The entire 
world knows well that the situation 
in the world as a whole largely 
depends on the state of Soviel-U-S. 
relations.’’ Now, he said, “a certain 
step has been made in establishing 
a dialogue between our two coun- 
tries." 

Soviet analysts question Presi- 
dent Reagan's part in this latest 
development. Shortly after the 
election, one analyst in Moscow 
wondered whether Mr. Reagan 
would seek a new role as peace- 
maker for his last term. 

■“If he has such ambitions to gel 
in the history books in this way, 
that is one thing.” the analyst said. 
Whether his advisers permit him, 
or whether he will use his ambition 
“for foolish things, that is anoth- 
er.” 

Following are some problems 
and prospects, by region, for for- 
eign policy and relations under 
President Reagan’s second term: 

Latin America 

The adminis tration is expected 
to continue and possibly intensity 
efforts to combat leftist revolution- 
ary forces, according (o govern- 
ment officials, but they expect 
Congress to restrain him. 

Nicaragua's Sandimst leaders re- 
peatedly have said that President 
Reagan is preparing for direct nrih- 
tary intervention in Nicaragua. But 
political observers in Managua, in- 
cluding U.S. and West European 
diplomats, said these allegations 
seemed aimed primarily at rallying 
domestic and international sup- 
port 

The administration has said it 
will not accept consolidation of a 
Marxist- Leninist government in 
Nicaragua but has never made 
dear tow far it would go if the 
Sandmists do not respond to UJ3. 
pressure to move toward democra- 
cy, curb a reported arms buildup 
and reduce Imks with the Soviet 
bloc. 

The administration's policy is 
expected to become dearer in the 
spring after Congress decides 
whether to resume aid to Nicara- 
guan anti-government 
The administration has Hedged to 


push hard to restore the funding, 
cut off by Congress last May. 

As part of a possible hardening 
of policy, against Nicaragua, the 
administration reportedly was con- 
sidering steps to reduce trade, in- 
crease the U.S. military presence 
around it and downgrade diplo- 
matic relations. 

la El Salvador, officials ex- 
pressed hope that continued U.S. 
support for President Jos6 Napo- 
le6n Duane would enable the gov- 
ernment to end the five-year dvfl 
war with leftist guerrillas. They 
said continued U.S. military and 
economic aid was crucial to give 
the government the upper hand in 
peace talks or wear down rebels in 
the field if negotiations failed. 

Regardless of the outcome of 
talks begun between the Salvador- 
an government and guerrillas in 
October, the administration is ex- 
pected 10 maintain areittanw* to the 
government. Though Washington 
might look for new ways to aid the 
government — by expanding U.S. 
miclligence-gaLbaing activities, for 
example — President Reagan is not 
expected to introduce troops or 
otherwise dramatically increase 
U.S. involvement 

Although the region has been un- 
dergoing a political transition to 
democratic government, the major 
exception is Chile, where President 
Augusto Pinochet’s government 
has resisted U.S. and domestic 
pressure for liberalization. The 
Reagan administration has been 
forced in Chile to modify its “silent 
diplomacy" strategy of improving 
relations with military govern- 
ments while quietly seeking 
change. 

During the next four years, some 
Chilean opposition leaders predict- 
ed, Santiago could become a major 
trouble spot in Latin America if the 
country continued its course to- 
ward viofem internal conflict. The 
Reagan administration, they con- 
tend, has proved unable to respond 
effectively to the crisis, dinging to 
hopes of gradual movement by 
General Pinochet toward democra- 


cy. 


Africa 


President Reagan’s inauguration 
means a continuation of the “con- 
structive engagement" policy to- 
ward South Africa that many Afri- 
cans view as heavily favoring the 
white-ruled government there It 
also means Washington will ding 
to its insistence that independence 
for the South African-controlled 
territory of South-West Africa, or 
Namibia, be linked to withdrawal 
of the estimated 25,000 Cuban 
troops in neighboring Angola. 

Nonetheless, there are signs that 
the UJL Congress could make the 
next four years considerably less 
favorable to South Africa now that 
conservative Republicans are join- 
ing congressional liberals in de- 


manding U.S. pressure on Pretoria 
to change its policies of racial sepa- 
ration. 

Economic sanctions are likely to 
be approved by Congress this year 
in some form — as a bill to ban sale 
of South African gold coins in the 
United States, curtatlmenL of bank 
loans or a mandatory code of con- 
duct for U.5. companies doing 
business in Smith Africa. The ad- 
ministration has made its op- 
position to these measures, but 
President Reagan may face a diffi- 
cult choice if a sanctions bill passes 
with bipartisan support 

Elsewhere, African policy is ex- 
pected to follow the same track, 
with such U.S- allies as Sudan, So- 
malia and Kenya receiving the bulk 
of military and economic aid. With 
its aggressive promotion of free en- 
terprise, the administration is rid- 
ing a wave of popularity in much of 
Africa, where two decades of so- 
cialist rhetoric and economic cen- 
tralization have largely failed. 

Diplomats including Chester A. 
Crocker, the U.S. assistant secre- 
tary of state for African affairs, 
have made dear that the United 
States will increasingly direct aid 
toward countries that seek to in- 
crease incentives to private farmers 
and other budding capitalists. Thai 
could mean more money for such 
nations as Zaire, Zambia and Mo- 
zambique, all of which seek to in- 
ject new blood into torpid, bureau- 
cratically stifled economies. 

One exception is Ethiopia, 
which, despite its Marxist govern- 
ment and pro-Soviet stance, is to 
receive a 215,000 tons of grain 
worth SI 10 minion to hdp combat 
famine. The food will serve to un- 
derline the administration’s claims 
that it does not play politics with 
hunger. 

Relations with Zimbabwe are 
likely to remain chilly. Some ana- 
lysts predict that the US. aid com- 
mitment to Prime Minister Robert 
Mugabe's government will contin- 
ue to decline. 

Although many in Congress and 
the adminis tration might like to 
write off Mr. Mugabe and his so- 
cialist rhetoric, others argue that be 
presides over one of Africa's few 
economically viable nations and 
that, after investing nearly $300 
million in U.S. aid over tne past 
four years, it would be foolish for 
the administration to withdraw all 
of its support. 

The Middle East 

President Reagan remains a 
friend and benefactor of Israel, and 
there are no major conflicts be- 
tween the two countries. 

The search for agreement in Leb- 
anon appears to be the area of 
Arab- Israeli affairs in which the 
United States has the smallest rale. 
Israel’s hopes for a negotiated 
troop- withdrawal agreement with' 
Lebanon have just about vanished. 


and U.S. influence in Syria is limit- 
ed and not Hkely to induce Damas- 
cus to help break the stalemate. 

Israel’s first priority in its rela- 
tionship with the United States is 
to receive more aid and, although 
Israeli leaden may not (A tain all of 
the nearly 55 billion they are seek- 
ing over the next 18 months, they 
are going to uy. 

Mr. Reagan also will face new 
requests for increased aid and arms 
sales from moderate Arab states, 
particularly Egypt and Saudi Ara- 
bia. President Hosni Mubarak of 
Egypt and Saudi Arabia's King 
Paid, both scheduled to visit 
Washington early in the new term, 
are likely to press President Reagan 
to deal with Yasser Arafat and the 
Palestine Liberation Organization 
and to sell aims to Jordan, despite 
Israeli opposition. 

A base problem for President 
Reagan will be bow to deal with 
pressure from Arab allies for U.S. 
action on the Palestinian question, 
which they stHl regard as a major 
problem for tbeir security. They 
worry that Mr. Reagan has give the 
Middle East and Palestinian peace 
talks a lower priority, and they fear 
growing violence and terrorism in 
the next four years. 

Asia and the Pacific 

Trade questions are at center 
stage in relations with Japan, 
whose do minan t b usiness and po- 
litical establishment welcomed 
President Reagan’s re-election and 
talks of further strengthening ties 
with the United States, easily its 
most important bilateral relation- 
ship. 

The most serious problem for 
U -Japanese relations is trade im- 
balance; which was the focus of 
talks between Mr. Reagan and 
Prime Minister Yasuhiro Naka- 
sone this month in Los Angeles. 
The meeting produced general 
pledges to work together rather 
than specific measures. 

Japan wants to see U.S.-Soviei 
disarmament talks succeed. Al- 
though Japan has no nuclear weap- 
ons of its own, ihe Soviet Union is 



Some of (he 350 residents of Ballyporeen, Ireland, ancestral home of President Ronald 
Reagan, celebrate his inauguration. They hold a flag that once flew ores' the White House 
and which was given to the village after Mr. Reagan visited the town last summer. 


believed to have targeted large 
numbers of land-based and subma- 
rine-launched missiles on the coun- 
try and its U.S. bases. Japan would 
welcome a reduction of that threat. 

U.S. diplomats in India speak 
enthusiastically about opportuni- 
ties for improved relations between 
the two countries. However, Prime 
Minister Rajiv Gandhi is at least 
publicly steering a middle course, 
promising to strengthen relations 
with the United States and the So- 
viet Union and expecting no major 
tilt in either direction. 

P akistan figures prominently in 
the equation, and Indian Foreign 
Ministry sources say that efforts 
will not slacken to have the United 
States scale back armament of Pa- 
kistan. with which India has fought 
three wars since gaining indepen- 
dence 37 years ago. 

Pakistan’s principal concern will 
be uninterrupted implementation 


of the five-year, 13.2-billion mili- 
tary and economic assistance pack- 
age. It was granted after the Soviet 

invasion of Afg hanistan, when Pa- 
kistan began to be seen in Wash- 
ington as a front-line state against 
Soviet expansion. 

With President Reagan's re-elec- 
tion, Pakistani officials have been 
sanguine about continued U.S. 
backing, which also has included 
more than S350 million in cash, 
food and relief supplies to nearly 
three milli on Afghan refugees liv- 
ing in Pakistan. That does not in- 
clude funds reportedly used for co- 
vert military aid to Afghan 
insurgents fighting Soviet troops. 

U.S. relations with the Philip- 
pines will depend on the outcome 
of local elections this year and a 
scheduled 1987 presidential elec- 
tion. Regardless of whether Presi- 
dent Ferdinand E Marcos remains 
in power, the United States will 


face problems because of the pres- 
ence there of two U.S. military 
bases. The current accord govern- 
ing U.S. use of the bases expires in 
1991, and alternatives may be 
needed if a government that wants 
to remove them takes power. 

Opposition to the bases appears 
to be growing along with incr easing 
public acceptance of the radical 
Communist Party of the Philip- 
pines and its military wing, the 
New People's Army. A moderate 
group of opposition presidential 
contenders has endorsed a plat- 
form calling for removal of the 
bases. 

In New Zealand, the United 
States faces a Labor government 
ban cm visits by nuclear-powered 
ships and those carrying nuclear 
weapons. It is the only such ban by 
a U.S. ally but has implications for 
other U.S. alliances. 


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1984 was a year of exceptional growth 
and development for the International Herald 
Tribune: This report is written to share some 
highlights of that year with our readers and 
advertisers, in a spirit erf deep appreciation for 
your interest and support 

The most important fact about the IHT 
in 1984 was that circulation continued to 
grow at a remaikable rate — the most encour- 
aging growth, in fact, in our history. In the 
course of the year, daily circulation surged 
past 170,000 copies per day (distributed in 164 
countries) and the average dally sale surpassed 
160,000 copies. Circulation in Asia — where 
we began printing just four years ago — now 
exceeds 25,000 copies daily. 

Overall, the paper's circulation has 
grown by 6 percent in the past year and by 
more than 20 percent since 1980. Some 60 air- 
lines now buy more than 35,000 copies every 
day, evidence of the paper's continuing im- 
portance to the global business traveler. 

Meanwhile, our regular subscribers con- 
tinued to renew their subscriptions at a rate 
exceeding 80 percent, a vote of confidence for 
which we are most gratefuL 

New research concerning our readers 
shows them to be affluent ($79,400 average 
family income), educated (88 percent hold at 
least one university degree) and influential (72 
percent hold management positions). This re- 
search was based on a reader questionnaire 
printed in the newspaper and tabulated by an 
independent research company. We were en- 




19BIM) 


KM- . 

» i 

couraged when nearly 12,000 readers returned 
their questionnaires, providing an unusually 
broad sample of our daily audience. 

Advertising aimed at this important au- 
dience has also been climbing, with 1984 sales 
increasing by 23 parent over 1983. Once 
agfiin, this was the best growth in many years. 

As readers have undoubtedly noticed, 
there was a marked increase in the use erf 
four-color and spot-color advertising in the 
IHT in 1984— by more than 75 percent over 
1983. Classified advertising, where advertisers 
depend on fast results, also increased signif- 
icantly. 

We believe this growth in readership and 
in advertising support ultimately reflects our 
progress in two other areas: our editors’ 
efforts to produce an increasingly valuable 
newspaper, and the efforts of our circulation 
and production team to make that paper 
available to readers in more places on a more 
timely basis. 

Concerning the newspaper itself, an ex- 
panded team of editors and writers has helped 
us not only to increase the scope of our cover- 
age but also to preserve and advance the 
lHTs reputation for accurate and balanced 
reporting. 

One of the biggest editorial expansions 
in 1984 was the new “Personal Investing” sec- 


tion, now appearing on the second Monday 
of each month and designed to hdp our read- 
ers look beyond national boundaries as they 
make their savings and investment decisions. 

Other editorial advances ranged from 
regular new columns on “International Man- 
agement” and “The European Economic 
Community" to a substantial increase in our 
listings of international sports results. A new 
“American Topics” column, appearing on 
Mondays and Saturdays, provides a fuller 
sense of American society. The winter and 
summer Olympics and the American political 
campaign were topics for expanded news cov- 
erage, and once again this year our editors 
produced more than 60 special reports on a 
wide range of countries and industries. 

On the delivery front, the IHTs techno- 
logical expansion continued with the start-up 
of our seventh facsimile printing site in May, 
this one in Marseille. International Herald 
Tribune copies now reach the South of 
France and Spain earlier than ever as a result. 
To mention one example, the IHTs arrival 
time in Madrid is now 8:30 AJVL (coming 
from Marseille by truck and then plane) com- 
pared to 12:30 P-M. when the paper was 


-■ „ ai> ■ 

U& "or# 






— Hrta 1 EriWnnr 


! PERSONAL INVESTING 


( -S. Boadw 
\ Crucial 
Juacturr 




AppiannpiTvO'lur trt Nvtrt g- -t- 


flown from Paris. Further new printing sites 
are under consideration. 

Other IHT activities in 1984 included 
five well-attended conferences, with speakers 
ranging from U.S. Vice President George 
Bush to Portuguese Prime Minister Mario 
Soares. And new guides to European travel 
and Paris food joined the growing IHT book 
list 

On all these fronts and others, we hope 
to make further advances in the year ahead. 
But that will require your continued help. 
Your decisions — to read this newspaper and 
to place your advertising in its pages — ulti- 
mately determine the pace erf our advance. 
That Is why it is so important for us to fed in 
touch with you, sharing information about the 
newspaper with you, and learning tan you 
about your reactions and interests. So keep in 
touch — you can be sure that your letters to 
us are carefully read and noted. 

With thanks again and very best wishes, 
Lee W. Huebner 
Publisher 


zests' 



J 




INTERNATIONAL 


TRIBUNE, MONDAY. JANUARY 21 . 1985 


International Bond Prices - Week of Jan. 17 

Provided by Credit Suisse First Boston Securities, London, Tel.: 01-623-1277 

^ PHce® may wit according to market conditio nfl and other factors. 

RECENT ISSUES w _ | — 

^ ^ — ' - Mai Price Mat UteCun* 1 — * ““ *■ —— “ 




Middle Awl 
Price Mas Lite Curr 


Str/ 

Caaw Issue Pr. MldPr. Ytexl 


Cm 250 Finland f _ 

WiD I man} jyJJan i 100 

SSD rirrTi Pmnei ,nT 52 ^® t IDO 

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sgg: 

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*7 S"?gS!i m»w W/w 

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*290 Goodyear Tin Rubber 

pSfteS^Sfic 

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■B & 


; «-«n ,100 M 708 

, &3S , {2 * J* nn»iwn 

.. 55 E- 5 " * *■> wvs jjs 

* SS. wvsilw 
2 52 Jon * m wv»i 2 w 

n feYSJcn S W 0 HEto 11.96 

sSSSH * 1 s !S?* w* 
!*5S2-!ff 1 ™ wo n.n 
, IS 5 S Jon * "*> w*u» 

MJjTJjan ,ioo 97 ft 709 

tSiysjp" * 'oo w tm 
KS 52 ?": * 'SL MO^llJt 

ffS52B Jon > «% >■ no 
” 2 ; 2 -»o , m, wwiwi 

wftfe Wjan i m , iui 

if % 52 E?S > M 0 w US 

” 52 *D«e i n o iui 

7fe %97 Jen 1 100 99V, 757 

.t* 522 ! c * !5 97 ft 733 
l> to TOOK E ICO 9 TC.il JO 
J * 2 ? S,P , HO 17*1 7 X 

,S>£S* 5 ™ * Ml 

) 1 HT.TJD«C * Wn 97461105 

K 3 J 2 SB? 5 '* wall* 

* 100 99 11 u 


SS Nmriowxfland Lob h vdr KHMr TTu izjs 
*5 Newfoundland Lob Hydr 1 7 b TO Nov lira I US 
SB Newfoundland Mualdeo 9 hV 5 ae W DM 
oa» NcwtaunOM Province 1014 V Dm 97 1190 


13 Nu fau n dto d Province 
ISO nmtoiertuiij Prowlnce 


8 ft TOMar 96 ft 11,94 IAS* 801 
* TOFdO 90 1 US 


SW Newfoundland Province ! 7 toTOOct 112 ft 1114 


IB Newfoundfcnd Pravincz ItoXJun 90 110 * 

S 75 Kewfoundtand Prarinra iSftTOAua IM 1 UBS 
SM Ttewfounteord Province 13 UAw IMh llSe 


S 9 Newlaunalend Province 10 TUNfoe 


13 V; TO FMI KMft 1224 1 U 5 1202 
IK- TO Jan 90 11-04 O 

IP*. tal «|W 1 114 IIH 1140 

TU 7 


°is sssa 6 -*- SSSgs «a# 

150 (Var 5 Srni WlJWWC 1 99 % 91 1144 

«pnno RiheSSScCow/w " D * C J I oP ra ’le 


STRAIGHT BONDS 

All Currencies Except DM 


cnSOB Narcen Energy Res 
SMO Nova An Ataerla Carp 
iso Nava Scotia Power 
art 18 Nava Scotia Power 
*15 Nava Scntto Province 
in Nava Satta Province 
S 7 S Novo Scotia Province 
*9 Nova Scotia Province 
*75 Nova Scotia Province 
*M 0 Hawn Seal la Province 
* US Ontario Hydro 
lino Ontario Hy«o 
I US Ontmto Hydra 
*150 Ontario Hydra 
ISC Ontarhj Hydra 
129 Ontario Hydro 
I 3 H Ontario Hydra 
SUX 1 Ontario Hydra 
S 150 Ontario Hydra Ain 

I too Dnfdkj Hydra Nov 
*150 Ontario HyWO 
IU Ontario Hydro 
1200 Ontario Hydro 
*35 Ontario Mvdro-Eleclr 
*2 Ottawo-Cartetan 
C 0 S 3 B Ottawo-Cartetan 


*40 Oltawo-Cariefon Uto Y 7 Jun 105 11 H 

art *5 Panariadtan Petroleum lift TO Dec 119 a 120 

aviso PsKOtadlan p«lratawn I 7 VJT 3 Aar M|l 4 1233 

* SO Pal wear TVilADvc «4 U 73 


IS. T| Alta Wlto 1247 1159 

14 '* OJat ID U« 1119 

914 *39 May TJW 12 JQ T 241 U 54 
9 VST 4 JUI M 111 * 9.90 

9 «Mev 99 V> 10 X 1034 905 

1544 V> VOT 171*4 till 14.14 

1514 *890110 110 *. UJt 1177 

lOtoTaJul 95 I 20 M 215 I 1 J 3 

15 TIJun MOv HE 1485 

HVTIFeb IX 1135 1135 

ItalSJun MM 9144 05 * 

llllleg 97 *. 938 *™ 

I 17 A 0 T XI* 1044 
mOTApr 110 V: 1 L« 

lit* W Dm WOn 11.11 

lOUWMoy «!* 1 U 9 
114 .t 0 So> IOVj 11 . 1 * 

IJnTiFett 109 1734 

U TIAua IIZV T 234 

la Ti nov nn. i 2<3 usb 

15 T 7 AU 9 1151 % 1135 1299 

17 *T 20 a 108 V} 1 UM 11.75 

11*9 T 4 Fad 100*4 I 1 J 7 ItJB 

8*4 86 Jan 98 1044 tax B 32 

<71 TOMcr « 91 X 7 12.19 10.11 

17 * 9*4 Dec 101 * 4 . 1234 1235 

1414 TIJun 104 11 M 1*34 1192 

l 4 *tVDK llPn 1289 1453 


Yield 

Middle Aw 
Mai Price Mol Lite Carr 


AUSTRALIA 

is 5 IS 22 W 85 M 0 V 98*9 1078 1151 LSS 

Sffl SS 35 StoWNov 9 b*. HJ 8 104 * i *7 

, J 5 8*4 24 31*1 97 11.13 9 JD 

• JOT Ainmto faliOcl W RL45 &J6 

vum 2 SJSS 11 * 4 MioS 10 imi io«! 

iSn ^ ro ^° 8 W 91 AUB lOBVi 730 7.98 

4 lS ff*. T 1 Oct W* 9M 9 JU 9 J 7 

vlSrS «M-T 5 >P I 9 to 1023 IL 35 *.H 

¥S* BtaYlOd in 723 799 

*iiS £2225 11*9 TS Oct 100 *% 11*0 1 M 4 

.*2 " MNTj W 9 * 4*4 Jun WT 11.11 115 * HL 49 

S J 5 *f aral . a . 11 * 9 TBOd 1 K '4 118 1 U 7 

is W Acr a 1224 IM 

I” ^Po QjAuSlrgU 0 12 T 8 Joe 99 1142 nil : 

iS SSSS ^" 5 ^! 0 M W Jon IBS 1427 U 24 

iS i'coa 0 » AAKtitatfhl W W Jim 9 l'n na 1033 

JS Atoo Ot Auilrolla UtoYlAor W 2 Vi 1284 1117 

*H AatoratunlndOmCo 11 29 Fed ICO*. 10*1 1097 

BartaltanindOevCa nth *90 Feb 99 V. 11.92 llfl 

?g aaDrtriion 4 Mnl Stneff t%UJin SJV> 11 X 1294 1087 

>“ A uMralUm Resource* 13 ft Mar in 1102 1335 

»« A uwvte m Resources UvaUApr 103 IUI 1111 

5 A*«mwte I 27 JiH 9 £Vj 20.1 1 11 44 938 

5 Brawn Hill Ply B ft Aw 99 V, 10.77 004 

*.5 BfrtenHdlPfy 8*4 29 Apr 91 1 IJT 1 

BrakenHHi ptv l 4 * 429 Mav lot*. 1237 

* WB Broken HUlPty 12 TO Jan IBlto I 1 J 2 

•» Broken HHI Ptv W ^Mov 93 VS 110 ft 

*20 Comoks Invest EuroM ttoWNav 99 1077 

**D Comatco lnye «1 Europe MtoTIJut 90 ’% 1203 

IB Conratai Limited HI 37 Aw 9 T .9 1139 

SI« C on u n nn m u Hti Bk Aostr 12*9 29 Nov 1 X 1 % 1134 

275 C*r Limited It 19 Jid 118 Hit 

240 Hamenlev Hold mas 99 iT 2 Jan 87 *: 1237 


» TIMoy 93 V, 110 ft 1215 lUO 


tv, ft Nov 
WV.T 1 Jut 


99 1077 1071 9JO 

90 ’% 1243 1324 H 33 


□US Quebec Cirv 
ai *25 Quebec Gfy 
01*15 Quebec Olv 
□Ills OuebecOty 
SIX Qutoiec Hydro 
ad 9 Quebec Hydra Mor 
aiS 50 Quebec Hydro May 

01*75 Quebec Hydro 
SUB Quebec Hydro 
cn* 6 ft Quebec Hydro 
*100 Quebec Hydra 
cn *50 Quebec Hydra 

*15 Quetwc Hydro Electric 

*20 Quebec Hydro-Electric 
2125 QoebM Hydra- Electric 
Sg Quebec Hydra-Eledrlc 
SX Quebec Hydra- Electric 
SIOB Quebec Hyiko- Electric 
SIX Quebec Hydro-Electric 
1 T 25 Quebec Hrdro-EIectrlc 
29 Quebec Hydra-Oncblc 
2 75 Quebec Hydra-Electric 
115 Quebec Province 
ot *50 Qutowc Provinca 
275 Quebec Prnvtntr 
135 Quebec Province 
cnSSJ Quebec Province 
CtflSC Quebec Province 
SX Quebec Province 
cn 258 Quebec Province 
01*50 Quebec Province 
cnS 50 Oiebec Province 
IX Quebec Province 

2 150 Quebec Province 
219 Quebec Province 
cnS 9 Quebec ProvtoOT 
219 Quebec Province 


U 27 Aw 9 T .5 1139 1188 1024 cnS !50 Quebec Prorttcr 


*50 Homertftey Iran Fin 
sx Hranenity Iron F*n 
125 Hornet stay Iran Fm 
SX K Mart Finance 
225 Maw) l*a Fmwice 
2 WO Mount In Finance 
SS Nanaaai Audr Bank 
1100 Queomfond 
SX Q u emM lwi Ahwnlna 
22 S Quwmiaad Alumina 
SS Rorot Industries Bonk 
SIS States* New S Woles 
SX Tnf Oversea* Finance 
SS Western Mluhta Coro 
SS wed trn Mkuna Core 
2 WO nntpac Bonking Cs 
2 WO Tftnlaoc loll Rrwnce 


17 * 9 -89 Nov 1 X’C 1134 1194 

It 19 Jul lit Hit 142 
9 Vi T 2 Jan 87 W 1237 1111 1084 
91 % ft Sea X ILWITJS 980 

9 ft May ir^ mans 121 

8 27 Nov 9 T* 9.99 10 J 3 B .48 

9 ftOct 98*1 9.94 HUB 9.14 
R. ft NOV W% 985 982 IS 

129417 Jul 18414 1181 1119 

lltatalAw 95*9 H 43 117 H 

11*9 19 Dec 99 1184 1149 

B *> ft Mar 98 1043 1 LS 4 887 1 

tit 17 Aw 9 S 10881107 U 1 

12 T 1 Feb 91 7172 1237 1 

ll*i TIJun 9815 1132 112 I 

9 27 Aug 95 1139 7245 947 

19 % ft D« W 4 W 1191 1483 I 

9 73 Od 85 1207 123 * 1839 

1299 T! Jan IKPy 12/4 12811 1 

II TOMov 95 1229 1 IX 


SW Quebec Province 


99, ft Dec «4 1122 

lth 17 Feb lath >271 

UliT 2 Dec loth 1133 

WkTtOcl ft 1188 

W 95 Nov 94 riUJ 

M'A ft Feb 111 1131 

Whit Mar 1 M ijx 

ithftMov uah lit* 

14 TIJul toth 11-99 
171*97 oa linr, 1273 
V 4 72 Nov 10 BV) 1223 
llh 92 Dec IM 51 1144 
121 . 93 Sep 102 h 1234 

ftkftoo « 9 h <*8 u ug 

aikliMdr 97 11 X 1187 831 

319 It Nov 95 1 IJB 4.95 
8 V, ft Nov 95 h 1132 1188 8 J 8 
BWftFeb H 1245 1148 984 
U 91 Feb 1 SJL, 13 JD 
1 H 9 T 2 Jun m 1142 

9 "92 Aug Uh lift 
9 h 93 Jul It 1232 

10 T 9 May M 1242 

9 15 Mar IDO BAS 845 900 

NS. ft Aw X 11.97 
1494 ft Jul > 114 . 487 
15 V, 17 Act HD 1185 
IB 17 Oct 109*9 1233 
17 V, 17 How Hit 1140 uu. 

7 hft Jan * 05 : 11 X 1034 829 
17 ft Mar 108 1145 

lEh ft Sen W 71 - 1197 
T 4 V 89 AW HIT: 1106 
14 V, 8 * Aug 1071 k 1221 
15 ’uWOec IXh 1279 
13 TO Nov 105 1173 

17 Y 2 Jul I 03 1 * 1175 

17 k -94 Feb into 1281 1138 1110 
12 TS Jan Wito 11.94 11.97 

9 95 Nov U 1184 lin 1084 


W 16 May 97 h I 2 JH 


lShftAtar 110 >151 >409 

OtoTOAua 8 * 11 S 1131 983 

Uh 97 Jul 110 1132 1239 

8 *t 92 JUJ 87 1134 1100 9.91 

1 BHT 3 JW 1 UIS*. 9 ft HUB 

5 b 15 Jun 971 » 1142 1188 581 
10 ftJul MB «35 KLDO 

M ft Feb 103 HUG US 


141* ft Jun I IOVj 1211 
10 TlAw 92-4 1131 
12 U. TIJun lotto lift 
15-4 92 Aw 1U1A 1236 


12 94 Dec 9 T.% 12 JB 


Me ft Jul 
WtoftJun 


14 ftJul 10 e 1136 

Ills. 90 Jul 9 e 1215 

15 V, T» Jul IW 1281 

171 * 71 May W» I 2 X 
lltoTIFeb 99 V) 1184 
II h 98 Aw 91 H 55 

14 91 Jun 105 % IUI 
IStoWSep 108 V} 1285 
1314 91 MOV ID 1250 
14 91 Jul IX 1235 


121419 Aw 101 h 1134 
■to 17 Mar *5 1094 


TV, ft Jan 97 1074 

ljto920d M2 1182 
13V. 94 Jul WSh 1221 


SIS Austria UhftMw 110 >131 

SB Austra 8*6 TO Aim I* I 13 D 

SIX AmJria llh 92 Jul 110 IIS 

29 Amtna 
ecu in Austria 

1 17 Alpine Montan 
SIB Austrian Control Bank 
tt 4 B Ausfrkei Control Bank 
at * 63 Austrian Control Bonk 
*175 Austrian Control Bank 
IX Austral Cabral Bank 
SS Austrlai Ctrttrai Bank 
SS Audnan Control Bank 
SIS Aostr tan Ekclr Idly 
550 Cretftanst ol l-Bankver 
SMB CredltanstalFBan X<w 
SIX Credttanstall-Bwdner 
>75 Crecatanstalt-Bankw 
2100 CredUanstalt-fianlnier 
SX OonoM uu tteie i te Ag 
SB Geaassen Zenlralbon 

IHa Gnnassai Zentrotb™* _ „ 

SS GlrnzBaMSonrtassen IStoWSep loth 1285 

575 Glraz Btmk Spariia**efl 
art TS GlratBaikSaarkaSnen 
S 75 FostvarHasse 
SX Touernautabain Aa 
SX TraB Austria Ggsbne 
*47 Vienna City 

enSBl Vienna atr ._. 

SS Ze nt r ohoor to-Koffimeti llh TO Fee 77 to 11 s 

BELGIUM 

ecus EuRuean BwttaO Eneo WtoWFeb 107 835 

2 W 0 Genfl nance IlliftJan 95 1284 

aa 75 KradtlBoikiHma 12 92 Jan 9 ew 121 * 

HIS 5 a Ivav 9 *t 17 Aw «7 HJB 

CANADA 

*750 Canada 
2500 Caraida 
SS AbtiU-Prk 
IX Air Canada 
SS AlunlminiCp Canada 
*60 Amcainll 

cnSS Anwriaan Hospital lewMAer iiivu uu 
enss Avco Financial Canada lNItMav 97 1232 

cnSS Avcn Financial Canada 13 19 Nov unit 1240 
cnSlO Bank Of Brit Cotomblo NtoWMa* 91 1232 

^ 

cns» 

*150 Bank Ql Mont ram 
tS Bat* Of Nava Scotia 
SHO Bank Of Nora Sadia 
□MS Bonkmonl Realtv 
IX 

□ate 

Jm 


ambec Urban Communlt MtoVJun 106 1472 

« Bedpata Industrie, 9 WSep B 4 h 13 JN 

*W 0 Royol Bark Of Canada U it Aw 101 %. 12 X 

entx Royal Bank Of Canado W ft May 97 h lift 

f?» Ravol toikWCcnodu MyftApr 94 11 ® 

SIX DovalBiBkOf Canada llh 1 * Feb 99 h MAS 
eor« Rant Bank Of Canodo llh 19 Mar 106 %. 830 
l« Roval Bank 01 Canada UhYlDee 94 1238 

lin MyalBaakOICmido 12 to 92 Jan 101 1153 

atsX Rovaf Bank Of Canado 9 12 Feb ft lift 

cnSX Roya l BankOi CntadO II 94 May 8 B%. 1205 

JO RovolTrustra 14 ft Mar ID 1 UH 

<rS 9 Royal Tnatao 12 taftNov !Oh 1141 

15 RwotTrusleo 1714 WJui 101 to 11 x 2 

SB Roy lease 1116 IS Jun 79*6 |ljl 

o*X Raynat ITtoftDec IB 1236 

□a IB Sabri-Uwrent 17 V. 17 Mar 102 V, isto 

.*.2 Pray Incp StoftSep 97*6 1025 

21 U Saskatchewan Provlnoj IttoftNav 111 1242 

1 ® Satkotehewai Province M 19 Mor 11 3 *. hai 

SW Saskatcbevran Province UMWNov 101 h lift 
IB 5 atfaddta»n»i Province WtoTOMar 98 H 3 t 
*150 Saskatchewan Province 15 92 Aua 114 h lift 

SM 8 SeagtamCo lTtowOa lev, lix 

5125 Seagram Co WA* 7 93 May 111 177 

adS SewsAazpkmce 14 91 Aid T® 1234 

Sin SMICanoOa 15*6 T|s» IRto 1285 

Six Shenomda u*kT 2 Mov 109 1140 

SX Simpsro Sears Accept 17 V, ft Nov l 73 h 1273 

add Stmnaa-Saar* Accept lotoWAw 111 11 ! 

□as Soc Hutttohor Quebec IStoWJon IB 11 A 


TV, IS Apr N 1181 
llh 1 » Feb 99 h MAS 
llh W Mar 106*6 830 
Hfh 91 Dec 94 1228 

17 *. V 2 Jen 101 1233 

9 TJFeb ft 12 ft 
10 94 May 80*6 nos 

14 ft Mar ID WM 
12 * 018 Nov IDh MAI 
llh V Jul 10116 lift 
1 U 6 13 Jun 99*6 lift 
ITtoftDec in 1226 
17 to 17 Mar 102 V, 1570 
0 to 1 t 5 ep 9756 1 IL 2 S 
lttoftNav 111 1242 

M 19 Mar 113 to 11 AI 


lift 1245 1811 
lift 1134 
«84 

1220 1137 

1233 12 AJ 

12 ft 12-41 1847 
1205 t 2 J 4 1137 


iTto-woa lisv, nx 
7 93 May 111 577 

14 91 Aid 107 1234 

15*6 Y| Sao into 1285 
H** 97 Mov 109 1740 

17 V, ft Nov U 3 h 1273 
UtoWAw 111 11 ! 

IStoftJan IB 11 A 


od 3 S 5 <K HvpottiequB Procan 17 hftDec li 


□Jx Soncorlw.i 


984 MX 890 
lift 1097 


1290 91 Nov ID 
10 ft Jun H 


1187 
lift 
1114 1334 1042 


& TaraeStoOomMon Bank SSto R 3 

SS Taran 1 i*OaniWn Bonk 129 kWAw ID 1234 

cnSS TaraakFOdOMlaa Bank UtoWNav HD). 1114 


adB TanedaMwJcioQlitv 

ms adB Transatta UtHlihd 
11 m ad in TraoBotta UltSHes 
lift SB TrapscanadaPlpetlmK 
1324 * 75 Tr—conod o Pipelines 

14 U * *« Transconodp Pbtollnes 

Ut SWO Transanrio Pipelines 
lift adB Trine Cm 

S 3 H 3 SSSSSSS 

1 11 m “I* wimtaw CHy 

12 ft *40 WhmtoegCUy 

ssrsss; 

□dX XeraeCanoda 


IBM lift BAB i 
1074 1208 815 
1 LK> 1201 ! 


U 94 Od 106 
17 19 FC 0 113 V 

WE ■s 

PSffi 5 

M 97 Mor 109 

'LSS, T 

1 * 19 Jon wu 
13 94 Apr HM 
17 1600 0916 

81417 Mav 91 K 
1556 ft Jun I 07 VI 
12*6 91 SOP 187 V, 
U ft 5 «p IB 


DENMARK 


145 * 17 JUI 10714 ML 4 « 

KKeftOct noh toas 

15*691 Dec 189 V, H 5 J 
1116 94 MOY WI 1105 I*.. 

9 hftAw «eh 1080 11 JM 9 ft 
llh 98 Jun 94 h 1201 
17*6 94 AW 10116 1212 
lNItMov 97 1272 

13 19 NOV HI 14 1280 
W 619 MOV 92 IZ 72 
1416 14 MOV H 356 lift 
lM' 87 Mav 105 lift 
1 A *4 ft Mar Ilf 12 ft 
141491 DW 110 1387 

151014 Jun IK HX 
135 k V Jul 103*6 1172 
17 % ID Sep 102 V, lift 
05614 Juf «th lift 
10*6 16 Od «h 1189 
754 17 Mav 9 J 56 lift 
It WJirn 110 1281 
UtoWMoy ID 980 
Bto T> Od n 1135 1383 887 
7*6 X May 99 %, 133 
WtoftMar W/i lift 
13*4 18 JUf W 7 >087 
1416 'BBOd 109 1303 

14*4 19 May 109 %. 1189 


*2 ° tTlmoril * ’K Jun 98 1181 

u S .2 9 to 15 Dtc 99 1041 

HIM Denmorti 7 V, 97 Sep 89 VS lift 

SHO Denmark Xlm llhftAuo IX lift 

IB Denmark UtoWAw 9456 lift 

dd WO Dtwnark U WOd llOto Hit 

tft Donrncrii 7 hTBJan 87 lift 

SW Denmark lltoTOJun lOOto 1145 

ecu 75 Denmark 19 *. 71 Mar W 5 143 

S WO Denmark 12 91 Mar 100*6 lift 

SWO Denmark 13 91 Mav IX 1232 

*W 0 Denmark U 91 Jul 1 X 16 1249 

SHO Dmmork UtoTlSw 104*4 1214 

rMon Denmark 6 * 4 92 Jan 97 V, 72} 

SWO Denmark 13 92 Jan 101 1277 

2258 Denmark 1254 93 Fab HO Q. 7 J 

9 15000 Denmark S to 92 M» HB 731 

2 lDa Denmark l 2 to 93 DK WOh ill* 

SIS CorHbera-Tubara 1 * 6 14 Aw 97 1147 

' ^wrmapenCity 9 won n IL» 

SIS CopentaenOtv 4 15 Nov 95 h lift 

125 COaeidnatn City 4 V, 17 Aw 9 Jh 983 

*15 Caeenbagen County Aut 7*6 17 Feb 97 9 J 9 

SIR Cupnbauni Teteabene 9 ISAw 99 h M .78 

SU CopenhaaenTelepbm IhlAFeb X IBAl 

210 CopentaBenTeteunoM AtolAAw 9 t 1839 

S 25 Etaam (hittand-Funn) 9 «Mcr 9 th lift 

112 Mortgaoe Bank Denmark 6*5 94 Jan 94 lift 

*25 Mwtaoae Book Denmark 7 W 91 Joo x Wft 

JS MortooBe Baft Danmark 13 93 Jen lB 2 Vj 12 X 

in PrlvatbenMn WhWAnr IS UA 3 


lift 1185 4.12 
1844 1045 9 ft 


7 V, 17 Sep WVJ 17 X UM IX 
IThWAua IX 118 t 1 U 9 

1056 II AW 9456 lift 11.11 

11 WOd 107*4 121 * 1245 

ThTBJan 07 1102 1221 IA 2 
11*6 98 Jun lOOto 1185 IUZ 

19 *. 91 Mar *5 983 Wft 

17 91 Mar 100*6 lift 11.91 
13 91 Mav IX 1222 1250 

U 91 Jul 1 X 16 1249 1118 

U 14 91 S 8 P 104*4 12 M 12*5 

45492 Jan 97 VJ 722 182 

11 92 Jon 101 1277 1787 

1256 92 Feb WO H 73 H 7 S 

16.92 May IB 733 784 

1216 93 D« WOVS 1214 1219 

■to 14 Aw 97 1147 1294 9 ft 

9 '35 OcT M IUB 11 JB 9.18 
4 15 Nov 95V, lift 1185 kH 
Ah 17 AW 9 Jh *83 1141 AH 
756 17 Feb 97 9 X 1051 7.99 
9 ISAw 99 VS M .78 1084 9 J 25 
IhlAFeb X 1081 1200 087 
4*6 14 Apr 94 1839 7207 7 ft 

9 15 Mw 94 h 1180 _ JB 

414 14 Jan 9 * 1854 7840 4 ft 

7 V, 91 JOO fe 10 X 1135 872 
13 93 Jon lEh 12 X lift 
MhftAar IS 1381 1422 


IhlAFeb 
4*4 14 Apr 



11*6 9300 ! 01 h lift 
9 WJUI 94 *. 1224 
n BSOd W- 1819 .w 
II *.93 Jun 99 h lift 1187 lift 



ad 15 fse Canadian Fmmce 
cnSX Laval City 
ad 20 Lawn ary 
art 35 Lefataw 
SS Mocmnkm Btoedel 
SS MaanBtan Btoedel 
□415 Mm i tebo Province 
sis Manflaba Province 
,75 ManHMia Province 
SHO Maettobo Provtora 
S 12 S Mrmltoba Preujnee 
Sift Mnndobo Prevface 
SHO Maritaba Prpeincc 
adft Atarttlme Tel 1 Tet i 
*75 Massev-FerauwiWed 
»I 7 MantrealCiJy 

ads Montreal Cly 
Odd Montreal City 
cnSS MvitreelClh 
120 Montreal Q*v 
arts MorrttealOjy 
odte Montreal arv 
SHO MonNwHOtV 
adx Montreal S cJdmCwiik 
S 75 Montreal Urtton Our 
adx Natean Redly Cara 

*40 HewBra iM*jCfc gMcirj 

*75 New Bnmsnlrt 


10*699 May 91 1189 

llh 91 Jill Htto 11.90 
12 to 91 Nov 10*6 1183 
n Tittac nr* msj 
1714 WSep 109 1183 

12*4 W Fib HI 11.91 
I 5 W 17 MW 187 1420 

UhWNev 104 %. 11.15 

UhlSMOV IB 1280 

llh W Jul IX 11.17 

1 M 14 JUI IM 1183 
U 17 Mor IMh 1233 
lth 17 Jun 106 to H 14 
15 %. W Jon 104*4 1811 
ITtoW May into lift 
11 91 Mav 94 1258 

14*4 91 Od 1116*2 1281 
8 *e 14 Nav 94*6 HX 
ni 7 Mw 95 1183 

MX 91 Dec IW 1234 

17 * 99 Mar HI 1171 

17*97 Nov 10 »h 041 

UtoWAw IXh 1155 
9*6 W May 93 1187 1203 1041 

11 * 90 Mav Ml to 1131 1 L 71 

llhTOOd HJ *6 lift 

14 * 93 Jun 107 Vj 1284 

17 17 A 1 I 0 IWh lift _ Jig 

H 94 Dec in 118 B 11411433 

11 to TO DOC 98 h lift lift 

M 91 Oct 104 h H 93 

17*1 17 Feb IX 1483 

ETVk 18 Nav 189 Uft 1385 I 4 X 

9 92 Od BBh 0.15 1381 11.18 

77 * WAw 112 1177 IS 7 J 

13*92 MOV 15 1721 1588 

10 94 Jul 67 * 17.121877 1481 

9 16 Jun 95 1289 987 

13*91 Feb IXh 1219 
13*4 WAuD M 7 * lift 
1 M. 16 MW W MX 
9 h kj® 99*6 977 
12 * 6 17 Mav 101 * lift 

utoirod ns Mis 

11 *. 17 NOV ID 10 « 

KJ *6 18 Jon 99 %. 108 $ 

10 WMar 97 * 1195 
llh 19 Feb IB ll.II 

12 WHO* 1 * 3 * 1137 

llh 19 Dec If*, lift 
11*6 90 See 184*6 1105 

l 3 H 93 Mor 00*4 HX 

llh 93 Oct Kioto lift 

Tito 15 Mav ID 889 

12 * 6 15 Nav 10756 . 1849 

17*6 84 Od IW 111 ! 

12 * W Sen llSto lift 
llh TO JU trn 1 LSV 

8 *. 17 May 93 12 S 

1 T 6 TO Od IU 078 

u* 9 l Dec HSh 1131 

13*91 Oct 1 ( 4*6 1240 

17 IS Jim HO IIS 

9*14 Feb m IM 9 ft 950 

151 k It Jun IX 1103 

14 17 Jar 104 1217 

18 17 Oct H 17 1*57 

9*4 WOd 94 ft 1181 lift lift 
lth 19 Feb Ml 1177 

18 W Jun « UI 0 

IThWOd 107 ft * 5.10 

M *6 91 AW Mlh 1431 1434 14 ft 
1 X 6 91 Aw 10 W, 1283 1147 

14*6 14 AW 103 lift 
14 It Jun 104*4 IIS lift 
It VHP 110 11 X US 

tft 14 Jul 96 1254 lift 980 

11 ® Nav 10715 1*44 1474 

Wh WAW 9 ift 1284 1385 lift 
17 19 MOV 10499 1*41 1427 

1416 19 Jill 10*6 1 JJD 13.73 
lift 98 Jun 91 1381 7244 

10 94 Feb Oh 1222 1449 1188 
10 ft 15 Jill W 4 984 1847 

15 h 19 Jan Utft I IX 14 ft 
* 93 Dec 80 ft 1189 IMI 
Hto T 3 Mav 99 h 1241 1231 

9 *. 14 AW 91 17 X lift MAO 

Tft 9 a May m. 1133 iji 
10 ItAue X lift 1144 MX 


lift 90 Dec W Hit 
9 92 Feb 13 ft IX»S 1400 ll.II 
9 to 93 Mar Bft 1129 1189 II J 9 
ttolSAW 99 ft 18741879 9 J 0 
9 to IS APT 99*6 984 906 907 

_ 10 ft 


11 %. 19 Now 1076 1 LH 
Hh 90 Jim 97 ft 11.10 
17 V, 'WOd IX 1142 

13*6 94 Od unto H 54 

thltJim 74 1 & 4 B 

wto srjai 9 s% i 2 X 

17 19 Mor MA *6 I 4 A 7 *A 3 c 1*93 
10 19 Jun 93 W 1185 I 4 IB 
12 TOOK 101 1174 

llh T| Mar tOto 1101 
IK 91 May Hlh 1106 
llto 91 Nav WI 1201 
I 5 UTI Mor 111 1 .* T 3.15 
I 7 V, 17 FpB 107 lift 

- 12 IONOV Wffto II >5 

12490 Feb Xh I 2 X 

u-: 18 Feb m HW 
17 88 Oct llJh HI* 

I 4 to -894401 IU I IM 
n.Htoaf P'1 1107 17*0 II IJ 

.} in,, ttj; t 4'5 


SWO FWund 
S 7 S Fkltand 
lift v I SHO Finland 
lift 1 100 Finland 
lift IS Finland 
>285 Mu -200 Finland 
1183 ft TO Finland 
11 ft tlSJOS Bntand 
1503 SS Fin load 
*73 Finland 
SS Emu-Gufrelf 

SS FtnnUiExaertCredli 
115 Flmibfi EkPart Credit 
SS Ftanriti Effort Cradlf 
S 7 S FMtl Effort Credit 
SHO Fhmbei Emwrt CrXA. 
SU Flnntah Muni daa Loan 
SU FbeiMiMunidpaLCan 
S 7 J HeUWciaty 
SS lad Mtoe Bank FMand 
*25 imknfrl Fand-Flnkwd 
IU MsriaaM Bank Finland 


9 ft 16 Mar 99 V 4 982 955 

15*6 17 Aw IX 1081 14.12 

■to 17 jun unto &x in 
llhWJon Wffto 17.19 1 L 41 

llto H Sep 101*6 HX lift 
11*4 19 Jun MMto *.« 1006 

lift WOd WO 1187 IMS lift 
ftoWtHN nth ift uu 
*** TIOct 57 11 X 1209 1806 

12*6 94 Nov 1 BIV; 1187 1207 

llh 90 Mar X 1202 1 L 72 

HhtSJul 99 h lift * 2 H 
UtoWAW 101 ft 1222 IIS 
14*6 14 DK M 6 to 1084 11 H 

1214 17 Nav W 3 lift 12 ft 
HtoWNOV IB 1187 I 2 JS 
Bto 17 Mor 94 h lift UA 2 872 
1*6 19 FNJ » 7281 U 3 A 9 J2 

■*4 14 61 ov 96 ft 10821 LA 5 9 ^ 
8 17 Dec 93 11 X 1131 230 

8 * 6 17 Sip 97 ft lift 1189 882 
IhliFeO 98 h HUB IMI 8 ft 


IU Marieaae Bm* FMand 17*4 w May Xh HU lift lift 
SIS PekeraOv He x Dec X 11 X 1106 ».ll 


13 h 97 AUB 102 ft lift 1051 > 2 ft 
10 15 Nay 99*6 10 . 9310.921008 
UhXMnr 102*6 1087 1388 

14 b Mn-> im tea IDS 


HIS Awnaert Da Porto 
SX AojitafeK&ma 
ll SB Banaue Franc Cam Ed uhXMar 103*6 ii 07 

1299 Bamua Franc Cam Ert II 14 Nav lBh WlS 

IX Bcnquo Franc Cam Eit Hh 17 Jun IX lift 

IS Bmaw Franc Com Ed llh W May 99 %. 1 IX 

SS Banaue Franc Com E«t 9 WMw 91 h lift 

SHO Banaue UetaBcz 
SS 

ad 75 Banaua Innm m 91 auo noq izpr 

*ua BvmueNMtanai Ports m»oa ns lift 

S 2 S Banaue National Parte lev. 90 Mav W 6 to as 

115 Banaue National Parts Llh 91 Jan ixft 1239 

enseo Bormue MM Parte 12 TIJun 99 HU 

SWO Cats** Centr Cooo Ecu IStoT 3 Jun 117 1222 

S 75 CataMCentrCaepEeo 1254 TS Sen 111*6 1229 
SHO CatneCentrCeanEca 1 ** 4 97 Dec 97 1222 

SM 0 Cotase Franc Motlarmi 1 135 96 Nov WI H 17 

STS Calme Nat Automate, e Iamov 9 lh 1029 

SB Cahae Nat Auturautes 9 V.T 1 SOP X 1184 

*85 Calme Nat Autornitas ITVTSMav T 02 to 1233 

S 7 S CahM TAN Automates 15 V. 94 Jim 110*4 033 

*75 CXme Ned Autarautes IStoWMar 113*6 1249 

SS CataM Nd AutsroDles 9 hT 7 Mor X lift 

$125 Colne Not CradAorlc 
SWO CataeeNatCradAaric 
>40 CabsM Hal Enarale 


SS 

SIB QdtwNefTafecamm 
*75 Catee Nat Telecomm 
IS CoftaeNalTeiecamni 
SIX Catee Hat Tele co n u n 
SU Catoa Not Titecomm 
17400 
0440 

STS CleBcmcoire 
SW CtaFkiDe Paribas 
ss cte Nat Du Rhone 
SS Oments Lafarge 
HUB CTmenti Lataroe 
odB Credit Enrtpm Petit M 
*308 Crmfll Fmder Fr XA» 
*308 CredH Fonder France 
*50 Credit National 
1 HI CredH National 
ecus Credit NaUand 
H 400 EJtdrlcPe France 

* M 0 EUctridte France 
SX ElecMdle France 
SB Eiedridte France 
sue Electrtcita France 
SIS Electric* France 
ShS Etacfridte France 
swo Eiedrtctta Franc JWw 

* too EMricflrFneice 
sw Etactridte France 
*75 EMAnuHufne 

SIS EHAauttalne 
>40 Ergo (frmtee) 

SX FnmailmPetrotei 
SB Gar Da France 
S 80 GmDe France 
Ma-MO Gar De France 
adTS GacOeFrance 
>175 GcaDe France 
*40 Lataroe C 
SB Lb Nickel 
S 75 MkMta 
SS SMffeUn 
> 12 $ MW**, 

*40 MldMtHOTl 
SB Paebntev 
ITT Peuaeoi _ 
tt IU PevecotOtrsen 
HW Pml A Mmiwi 

S« Port Airthorifles 
HUD RmohII 
HOT RonxO 
HW ntaaeJtauiMic 
HUB SataMSabnei PI Mauas 
ix Set, DeveM ReakMei 
*50 Snct Hal Oumlns Fer 
SB Sera Not Chemins For 
IX Sort Not Chemins Fw 
S 75 Srtet Not Chemins For 
SS Sncf NafOvinins Fir 
SW 5 ncl NatOiemins Fer 
SW 5 ne> Nal Chemine Fer 
1*0 Sort Hat Chemins Fcr 
•I ISO Total Oil Mam* 


llh 18 May 99*4 1154 lift 
* WMw 91 ft 11071387 984 
U WMov IX 1244 1309 

15*6 WAuO W 1249 *289 

14 9 TAUB HHh I 2 A 7 027 
ah»oa we lift 1274 
14 V. 90 May M 6 to t 2 ft CL 41 
Oh 11 Jon IXft 1239 1282 

12 93 Jun 99 Hit 1213 
IS* 93 Jun 117 1222 Uft 

lift TS Sen 111*6 1229 1225 12 A 1 
?I *4 Y 7 Dec 97 1223 1232 H 11 

123594 NOV WI H 17 1223 

9 16 May Xh 10 X 9.14 

9*6 T 1 Sea 81 1184 1148 1081 

12*6 95 Mav IOTA 1233 H 47 

15 V. TA JIM n »*4 an 0.77 
lf% 97 Mor 113*6 1109 1290 1184 
9 h 97 Mor X 1104 I 309 H 04 

11 V. X Jan X 1100 lift 

13*4 91 May HSh 11.93 1254 

9 to 25 Aar 99 h 1034 9 X 
12*6 TT Jan loin OX 1254 
n 93 Feb ItSh lift 1248 
llto 95 Jul 109 1029 1078 

I XMv Nh 1144 UM 829 
fh 14 Jun X 1021 9*0 

lb WOct I 9 h 11231205 9 ft 
13 hWOd 104 lift 1202 

tj *6 91 Jun WTto ILfl 
9 93 Mav Xh lift 
m 15 Dec m» mi* 

llto TS Jun Wh 1211 
I 8 to ID Jan 105 h 12)1 
IJtoWSff IkSh 1221 
1*4 WOd Mh 7235 


0*6 It MW 
7 h 17 J«i 


X 7249 1536 9.11 
BV, lift 1 U 4 847 


13 V, 90 Feb 99 h 1242 
IDA 91 Mav 9 Sto 1185 


■h X Dec 97 VS 408 M 42 Bft 

11*491 Feb 107 9.79 WA 3 

WtolSAw Wh 847 UK 

Halt Apr 99 b 1022 930 

(hit May Xh Uft UR 801 
4 h 97 Jun Xh 1124 909 


H 90 Nav lODb lift 1181 
9 %. 15 Nav 99 W 88 985 

4 WOd 97 HftHUS 6.19 
9 15 Mar 99 h IUD 1188 405 
i 3 hi 4 Ja> tab 1.13 uoe 
1 ] 17 Sep H 7 *05 1215 

15 WNov Ktito Uft 1111 U 18 
72*6 92 Mav WO** 1207 1214 

IShWAW I 05 h UA 5 044 1409 
9 WMov X 12 J 4 1439 9 X 
916 14 Mar 97 h ILM 1 L 73 9 ft 
7 h 18 Feb B 7 W 12411177 857 
Ifl 9 * Aug X lift 1231 1134 
9 b WSep 90 1279 1282 1038 

9 14 Dec X 11 X 11)9 9.18 
U XAuo 192 V, 1228 I 3 B 1384 
OtoWFeb X 1088 IIS 9.95 
7 hWAug K 026 1502 8)2 
9 tl Now 87 lift 13)4 I 0 J 4 
9*4 15 Jd 90*6 12)1 987 

7 h 17 Mor 9 lh lift 1141 Vn 
7 h 17 Apr Bh 1115 lift 0 J 8 
9 *. 16 May «Bh 1893 9.90 

IShTJApr IQfto R 14 IU 6 140 * 
17 h 15 Mai im 954 1238 

AtaWJun Xh lUllUS 440 
llh WNov WI lift lift 
1 ] TIFeb IX 1207 lift US 
. 9 . 50 k Bto lift HC 1050 

1151 

1131 


ft *00 Bari Tnunotlor Hco 
SIS Baver Inti Financ *Av 
*300 Baver lull Ftaanc x/n 
SU Bavorbcbe Varetnri* 

IS BenwOTs EnternrUec 

SIM Cmnmlwe Fknin __ 

SIM Cammenbanlc Finance llh X Jan 97 1 U> 

flM Cammanba* Ftatmce 11 TIMar to 1242 

SIM CwnmerBank Inti WAe 7 WJun in 5 H 

S 1 D 0 Commerzbatk Inti XA* 

SS Degura inti Fbi WAe 

*S Deoussa latl Fin XAe ... 

SIM Deutsche Bank Flnara llh 17 Oct into 1061 
s xn Dmitsct* Book Finance M'tVAiie nav. 1177 

IJB 0 Deutsche Barn. Finance IShWSea Htto lift 

SIM Deutsche B 0 M 1 Lin H/w AtoTlMav IX 475 
SHO Deutsche Barti Lia Him 4 to Tl May 77 1104 

SHO Dr esdnrr Finance 11 TOAnr 97)4 1107 

SU Gutaho n n un g shu tt le 
*125 Hoechri FtaanceXJn 
SU HMCM Finance XJw 
149 Schorl no Inti Fin X/w 
SX Stamens western Fbi 
*250 Stamens Weswrn X/w 
STD Veba mtl Finance X/m 
*19 vkUkSMiara Overseas 
SIM 94 erili FMm 
ecus Wertta Finance 


7 h 17 May 91 h 11.91 1195 8 X 
Wh 13 Jun 190 1044 HUB 

TtoWFeb Xh 1 LX 143 


II TIMar to 1242 
7 WJun IX SX 
7 WJun 15 12 ft 
Bto 9 ] Mav X 858 
8 b TIMar fib lljo 


SOUTH AFRICA 


11 X Apr 97 b 1107 11)5 

7 bWFeb 92*1 70.76 1101 EX 

4 b W Jul 15 h 1101 7 ft 

I T 3 FBI B 7 V, 1104 9)0 

6 h 90 Aug 84 to 1021 787 

9 IS Dec *9 M 19 10 X fit 

7 b X Mor 87 to 11.12 SB 

I 93 DK II 1181 988 

7*4 17 May 93 1181 U 2 

llh TO Dec Xb 12)7 TUQ 

15*691 Jan IX 987 1024 


Soutn Africa 
Saum Air ico 
South Atr Ka 
South Africa 
Anglo American Carp 
EscatnEleor Suoplr 
EKOtn Eledr Sueoly 
E scorn Eledr Suffiy 


I 17 Fro 
7 b 17 Dec 
llto 19 Mar 
I 2 -:WJui 

Tv, 93 Mor 
I’: 16 Dk 
llh WJun 
Bto 19 Mar 


SOUTH AMERICA 

Braril Co 17 Dec 

Colombia fu 13 Feb 

Vcnmcta SbTJQct 

Ehtrcbcas Sto 90 Od 

vmatetar Tetapnane lb 17 DK 


tft 9 ft 
It 70 1225 855 
1184 14 7 c 706 

W 35 UJ 6 >)2 

»H 9.34 1815 


*97 I its u» 
lift 1386 Ui 
108 Wft 

1280 H 54 

123 1 1281 3)9 
1194 US 185 
1278 ' 1.92 

ll.i: lift 9) 4 


1380 7289 ICDf 
16 . 9 * 2202 1025 
1400 1 T.R 1181 
llfll 19 : 
15 ft 1900 lit 


IW Iceland 
*15 icetond 
*35 Icetond 
SS Iceland 


S 15 Ireland 
*35 1 retard 
IS Ireland 
■cuS inland 


Stole Jon 97 HU 1214 902 

8 17 Feb 97 h 12)7 1478 BAS 

♦ 17 F»B 94 1243 1482 957 

12 b 97 DOC 97 W 1127 1133 1280 

IRELAND 

9 15 Mor 99 V, 1177 1 IW » 0 * 
Bto 19 Feb 90 h 1127 1234 9.12 

llh to Apr X 1209 1105 

tab 95 Jan Mlh M 0 I mo 

ITALY 


SUPRANATIONAL 


7 V, 17 Aug 

9 11 NOW 

6 to IS Juf 


SX Alfa Romeo Inti 

SS Ol XXfl MP TW BlWf HII 

SS COTorafaSoedlto 
*S EnefEntaltazEiierata 
SS Enl Entattm Idroenr 
SS ErdEntaNai Itaacar 
SB EfllEideNtaldrecw 
IB Ertt Entc Nat Idracor 
*25 Ferrone Delta 51 tlta 
SU OHvetti InN flux) 

SS StlrSacFlnTetacamm 
SM Turin City 


7 b IS AW 99 1174 lift 783 

A TB Mar 99 1*25 1441 604 

7 h Ifl Jan X 1074 1260 853 
7 h 15 Mw 99 '6 1149 U 74 756 
Ah 17 Jun 93 HL 44 110 737 


7 R.w 
6*6 18 Jun 
4 b WNov 
Sb It Feb 
This Nov 
7 b 15 May 


12 X 1544 Ut 
IK W 42 7.11 
184 lilt 7.11 
0 X 1551 9.11 
12071207 989 
1 L 11 IDS 783 


SM Turin City 9 91 Mav fth IIS lift tft 

JAPAN 

SWO Bank Cl Tokyo Curacao llh ft Sec 104 b 1187 

S 725 Bank Of TakveCwtscoo 11 TOAST Kb 1104 

* MO BO* Of Tokyo Curacao life to Dec y?b 11.93 

S WO Book Of Tokyo Curacao 13*4 91 Jur 104 b 1282 

SIX Bank Of TakvoCurocoa 12 *. TO Jon ISA IL 56 
SID Casta Computer Wf« ShftMar IHh 244 
*» Casio Computarx/W 
SS Owbu Electric Paver 
SS awpefcu Eledr Power 
>25 Curaaio Tokyo HOMAO 
*100 Dol-ldil KaVVOBank 
>75 Export-impgri Bmik 
SWO ' FuUfatl Finance Mk 
SX Fullkuro Ud Vtlm 
SX FtilikuraUdX/w 

SS HazonxFGumlLldW/er OtoWNav IB 8 J 1 
*50 HmsmaOumiudXTy, 

SW HttactU Zamn _ .. .. 

* SB Hokkaido Eledr Poorer IKWNav 103 h 1141 US 
SS Hekwtku Eledr Paver 
S KM indinl Bank Japan Fin 
S 12 S Indus! Bank japan R» 

SWO Intact Book Japan Hb 
SIX indmt Bank Japan Fin 
IX Must Bwk Japan Fin 
SHO Industrld Bank Japan 
*125 industrial Bank Japan 

□a 15 Industrial Bank Japan 
SS I too C Co Ltd W/w 



IhX Aug 
StoWSeo 
Bto Tt aw 
P hTOAua 

llto *93 NOW 
ThtoFeo 
llh TO Mor 
ttoX Jon 
UtolAAw 
61216 Jun 
thWDK 
Ah 17 Mar 
14 b 17 Mar 
Tv 17 Aar 

AM 17 Oct 
llhNAtav 
UhWOd 
Bto WOd 
9*619 Dec 

10 TO Mar 

ITfeTOAua 
9 V, T| Jul 
9 93 Apr 
9 95 Jim 
9 94 VdV 


ft 3182 

«-r tie 

tos :x 
in : x 
»» n n 
in’. 70 j 
Xb ;:ji 
Xb 1089 I 
IKJto 1113 
95 10421 

9 ] 1 CB 0 i 

fi wj: 1 

lotto 11 X 
92 1182 1 

9 Jh 94 } I 
100 "* ») 6 I 
ton 125 a 
68 1181 1 
95 1099 I 

102 %. tft 
IBOto 1184 

sn hi: 1 

D"; llftt 
BOh 1241 t 
86 11)3 I 


SM IlflhCCoUdXJta 
SS llebCCoUdW/ta 
SB Hah C Ca Ltd X/r, 

5 60 IlGbCCoLM 
>75 Japan Airlines 
SX JapanAulnet 
SW Japan Airlines 
SS Jaoai AJrdnes 
*42 Jawm AlrBne, 

SS Japan Dmctap Book 
S 75 Japcm Develop Bank .n. v, ww — 

SX JOPOI Synth RubbnW/w 7 bWMay X IX 
SX Jsan Synth PubbeXAe 7 b 19 May 8 Sto 1211 
*50 JuKBCeLMW/ta ■ WDac 142 2 X 

*50 JuSCoCoLtdX/W 
SIN Karaoi Etadrtc Power 
SX Kayaea Industry W/ta 
SX Kayrtaa industry X/w 
SWO Kyouio Flrunce ftU) 

SS Kvinho Ehdric Power — ..... 

SN 0 Long-Term CredH Bank life WAw 100 V, 1181 
S 125 Low-Tom Crerfll Bank 15 -iWAug W 7 HX 


ShftMar lUh 244 
59 hWMor ® I 22 S 

Uto 91 Aug 104 12 ft 

IJtoftAug 164 V, 11 99 

lh WDac 90 h 1181 1208 953 
12 b TO Od 101 b 1138 1204 

Ub TIJun IMto [ 0.91 1202 

Wh-XMOV 9 th 11)6 
7 b ft MOV 97 1042 

7 %. 99 MOV Hto 12)3 
♦to WNov 102 071 

9 to W Nav W 1208 

llh TO Alar 100 1148 1147 MS 

IThWNov IBM 1141 1)03 

rihWOd IX 11)3 — 

10 to 18 Aw Xb 11.12 
iih WMor lOOto 11 .x 

IZfeWOd 1 X 14 1181 

life 91 Nov lfll IUI 

llh 95 Dec 100 b IIS 1144 11 s 
m TO Feb 90 b 11)3 1 L 07 

12 b 91 Jd IMto US US} 

12 91 Dec 101 to 11)2 ILK 

11 17 Feb IX 402 701 

II 17 Feb X 1212 11)2 

7 Vj ft May Xh 799 741 

7 ft WMov Xh 12 X UB 

I 3 to 19 Aug UD 1185 12 B 5 

II TO Jun lOOto 100 ] 1 U 4 18.97 
17 V, 94 MOT 104 h 11)1 11)4 

1 X 4 94 Aug 1 KF 4 1142 1208 

11 97 Nov Ml 1 LXMJ 21 O 09 

10 b 98 Apr Xh 1100 11.12 1104 
15 h 17 FeO Mlh HL 70 “■ 
Rbwoci low, ms 


HIGHEST \TELDS 

to Average Life Below 5 Year* 


Brciil 

CalamtW, 

Reliance Triwtscorufne 
venerurlon Tetactnne 
Veneairia 

ward Food* O'* Capita 
Reliance Tran s can t! r» 

Camhtar Fed Electric 
Ericsson Lni 
inti Harvester Cr*dil 
Charter Cored id O- s 
Untan Cora ide Canada 

Rhine- Poulenc 
Ciments Latarae 


S’-. 17 Dec 
Bto W Feb 
7 to is Fee 
t'% 17 Dec 
SbTOOO 
5 b WNov 
AtoWFeb 
B 17 Feb 
Aft 14 Mar 
9 bXAw 
TlSlJClCt 
tbXMav 
7 ft 17 AW 
Tft ©Jul 


soft 1740 Tilt 10)5 
Eft 14942303 10)5 
X 2029 3 L 38 7)2 
Oft 1271 H 00 «88 
7 , 140 Q D 12 1157 

74 113 IkS? TJ 7 

78 ft 1554 16)6 796 
97 , 12)7 1406 885 
Xh IUI 15)3 688 
92 Tft 18)5 1060 
82 14 . 17 14.97 915 

9 ] 1*03 1447 1048 

89 ft 1115 1545 IX 
Mft IIS 15)6 Id 


HIGHEST YIELDS 

to Average Life Above 5 Years 


I WDac 142 208 

8 IDk 15 ft 1259 
12 ft ft Od KM 11)4 
itaWFeb 91 I 9 e 
4 V 6 ft Fib aib HIS 
Hb TOMOV no 1201 
I 3 h W Jul M 4 11 .X 


Pome Petroleum 
Hudsons Bov 
Me, ico 

MoonUlan Btoedel 
Consol ldotrd-Bathur*l 
Macmillan Btoedel 
FI sons loll Finance 

Icekmd 

Trailer Train Finance 
Canadian Utilities 

Peugeot 

RntnschlU I mi Hold In 
Royal Ba* Ot Canoda 
floral Bank Of Canada 


10 94 Jul 
18 9 . F» 

Sto 91 0 « 
9 TOFeb 
9 92 Od 
0-93 Mor 
BbTOAuo 
12*6 92 Dec 
Uto TO Nov 
17 T* Dec 

11 TOAug 
I 4 T,T 0 Aug 

9 TO Fed 
W 94 May 


47 h 17)2 1 
S 3 ft 1332 1 
81 11 X 1 

80 ft 1145 1 
B 3 ft 1115 1 
80 ft 11)9 1 
82 ft 1241 1 
97 V, 11 Zt 1 
♦ 9 ft 11)2 1 
in un i 
102 ft 11 X 1 
104 V, 1135 1 
X I 2 X 1 
Mb 1205 l 


cn* 75 Long-Term Credit Bank 
SIB Long-Term Credit Bank 


llh TO Jan X ’6 12)4 
II TO Mar X 11)9 


I — HIGHEST CURRENT YIELDS — 


SIB Lana-Twin CrwSt Bank 10*4 90 Jun Xb lit* 
*85 Long-Term CredH Bank 12 ft TO See IX UJ 3 


SX Long-Term CredH Bank 
SIS Long-Term Cram Sink 

SIB Long-Term Crpoil Bans 
*100 MmsdxnlCarp 
SWO Mktabea CaW/ur 
SIB MkitaaaCoXAi 
SB AMtauUsMOwmicW/ta 
-- MthubwnaiemlcXhe 
BMttabtMCarpW/w 
SiB MHnblduceraX/ta 
SWO MttsubWO 

SIB MBsubtahl 
SS Mi 
SIB Ml 

SiB Mltmb 

SS Mitsubishi Gas W/er 
SB MlttabWSGaiX/ta 
S 40 MttMbkhi Metal nr* 
>40 MtttataWW Metal Xtta 
smo MitsebtaH Metal wra, 

six 

IB Mitsui Engbieertn X/er 
SS MltwiEngtaecrtaX/fe 
SS Mitsui EngkieerinW/ta 
SS MBfedEnabwerlnX/ta 
SB Mitsui Florae Alla 
SIB MHtal Financ* Asia 
SUB MHail Finance Asia 
*100 IBM Trad Fin li* 
SWO MMTVntFfnlhk 
S 10 D Ntaaen Cradll 8 a* 

*80 NtanaaCradllBca* 
SWO Ntapon Credit Bank 
SIB Nippon Credit Bank 
SHO Nippon cram Bank 
SMO Nippon CredH Bank 
SMO Nippon Cram Bank 


IPk 91 Jul 108 ft 1185 
12 ft Tl Nav lXto 12.12 
U TO Dec 102 1141 

lift Tl Dec 180 ft 1121 
4 b ft Feb 105*4 488 

,fS 2 ? ,S W « 

11 17 Jan 98 b 1200 


JbWNov 

HbftJul 




.ffi 

ISbiS 


Wft TOMov V 11)5 
12 ft 11 May Wtft BL 99 
lib WMW 101 1 U 2 

12*4 ft Nov 107 ft 1101 
11*6 TO Jun 97 b 1 VJ 2 

4|4 taUnr KV. Oil 

9 WAw X Til 
KM 17 Dec 111 438 

10*417 Dec 96 1232 


lift 19 Dec 9 fb 1189 
17 ft TOAug 100 « 1109 
12 b TO Feb 99 b 1229 
12 b ft Nov 183 1 IJS 
12 TOFeb IB 11 .X 
lift ft Jul M 6 TUI 
Uto ft Aug 111 11 

11 TOMov X 12 

12 TOAug Ml ll— 
lift TO Nav 99 ft 1 IX 
12 b TO Jan tflft 12)1 
llbTOFeb 97 b 11)9 


Me. Ira 
Merico 

Piaiu Petroleae Mexk 
GuH State* O/sFuian 
OWaEdhon Finance 
Northern Indiana Pub) 
Otrfa Edfeai Finance 

Genrinr 

Transcnnada Ptaallne* 
Nodonol Fmanctara 
Saint-Laurent 
General Motor* Accept 
Hudson, Bov 

Cnra ol ld nl ed-flattiunl 


17 ft 15 Mar 
Uft 15 Juf 
17 ft X Nav 
17 ft WOct 
ITVBOa 
17 toW 0 d 
17 to 17 Jul 
17 ft 1900 
I 7 bWOct 
17 b 17 Mar 
17 b 17 Mar 
IB 17 OC 
II VKn 
I 7 to 17 Feb 


lOOto 1440 
IM 03 
106 1160 
IX 15.17 
IMh 1507 
IQS 1 .- 15.14 
IXft 14)0 
107 ft 15.18 
109 14)6 

100 ft 17)3 
ItBft 15)0 
107 1457 

M 7 ft 1444 
IX U 83 


SMO Nleaan Kakoa Krtadhlk IMTO Sen IX 


4 b WMw 145 ft 4)5 
6 b 19 Mar Bh 12)1 
12 b WOd Mi 1109 
MVMr Xh 11.15 
Mb TO Jan 97 h M )9 U .94 IILX 


lth to Feb 182 100 } 
HbTOAug 107 11,16 

13 V, 19 Aug IflSb 1109 
AhWFM 09 90 ] 

6 ft TO Feb llh 1249 
12 b 91 Dec 90 12 S 

4 b W Now 114 234 

6 to TO Nov 87 b 1214 
7 b TO Apr T 20 219 


4 h 19 Apr 81 b HX 
7 ft 19 Aw 117 107 


SS Nippon MMpgWAe 
SB NlPDta MHne 3 C/» 

SB HkeaiMnra 
SB Nippon Telepra Tried! 

SB Nippon Titaei a TltaPfl 

SiB Nippon TetaeroTeteoh lib to Feb lO 100 } 
SHO NtawnTetagraTetapti 12 b 9 i Aug w 11.14 
SS Nippon V men Kotcahl 
*70 NMn lent Com WAi 
*70 NiaNnlwd Cora X/w 
SMO Nomura Europe 

IBS Nomura Securities «/„ 

S IB Nomura Securities x/w 
SB Oftbarasht-GumlW/w 
150 OhbayaihFGuml XAv 
*2 Omran Tatairi Eta W/w 
SX Omran Tatelsl Eta X/w 
SX anode Cemented W/w 
SX Onado Coined Co X/w 
SX Orient tearing (cart) 

>40 Re n ow n Inc W/w 
*40 flw wlncx/w 
IX RfconCPlWX/w 
SSD Sdtaraa InK fhkl 
IS Sanwa InN Flnonee Hk 
*08 StFiwa Inti Finance Hk 
SX 'Sneaera Braetartes 
SB Seine TrwtaPOrtat W/w 
SS Seine Transaerianc/w 
*18 Sehw Stares Mar X/w 
SS Selva Stares Oec 

SS 5 M 6 sku EtaarPoeff .... .... 

SX Sumitomo Construe W/W 7 V, 19 Aw IX 1.15 
*20 Sumltamo Construe XJm 7 ft WAw Xh 1242 
SS Sumitomo Finance Ago 15 ft W Jul 117 1107 

SIB Sundtano Finance Ado WbTOJun ft 1109 

SIS Sumitomo Finance Asia TThTOMcy ID I 2 J 1 

SX SuraHemo Heavy In W/w fAWMar 91 8.94 

S 40 Sumitomo Heavy In X/w 6 to 19 Mar Hb 12)8 

* 108 Sumltama Inirt Fla Hk ilhTOFee 100 1241 

SMO Totva Kobe Finance Hk 1 ? TO Dec lOOto 11 . 9 } 

SS Tofteku Electric Poenr IZbWSep IBTft 1107 
SHO Total AttaUd 
SX Tokyo Electric CaW.w 
IX Tgfcyg Etadrtc Co X/w 
StOO Tofcra Electric F ta wer 
150 Tokra Matranalta __ 


If 11)5 1303 929 


4 TOFeb 80*6 12)0 
SbWMW 79 b I 1 J 9 
llftTBMar 99 11)5 

lib W Dec MO 71 J 4 
17 b TO Sao mb 1105 
Uft TO JUl lXft >209 
4 bWMgr Xft 847 


12*4 TO Fee 100 1241 

II 90 Dec lOOto 11 . 9 ] 
12 b 19 Sep lOT, 1107 
Uto TO Feb into li.u 
tft TO Mar 93 ft I 40 
6 ft 19 Mot 83 ft 1205 
13*9 TO Jul MBft KIX 
17 b T 4 Juf M 4 b 1141 


*S Tokyo ScmraE led W/w IlftTOJuo ZH 


SB TakraSarroEtadXrtv 
SS Torev Industries W/w 
IS Terav industries X/w 
SX T ora En gi n ee ri ng w/w 
130 Toro Engineering X/*r 
SMO Yasudo Truri Finance 


lift 17 Jun it 1102 

bto 17 Mor 109 341 

UMTOMar 97 b 1145 
tft TO Mar 115 253 

4 ft WMor B 12)8 

nbWAw nib um 


LUXEMBOURG 

SM Bin -Bank inti X/w Tft XMav X 11)0 

MEXICO 


SIX Meries 
S 175 Meeks 
*40 Meries 
SM Meries 
SB CamtatanFedElecsric 
*75 Comhlen Fed Electric 
art 50 Nodonol Femdera 
*75 Pemex Petraleos Me* k: 


17 ft WMor tOO 1 - 1440 1746 

18 ft 15 Jul llfl a 1603 

8 ft WMw X 1234 1409 9 .M 
8 % Tl Dee 81 11 XUXU 0 O 
1 17 Fee 92 h I 2 JT 14 J 6 845 

D WNov ft 1 UJ 111 J 

17 %. 17 Mor 160 ft 17)3 1784 

T 7 ft 06 to# IU 11 « 1151 


IX Pemn Petraieas Meelc 141597 Apr ion iuj 


S 3 Pemex Pttrai kb Meric BftWSea 
SIS Pemn Porraieas Meric lift 18 Jul 
MISCELLANEOUS 


BftWSea 92 1119 1304 9)4 
lift 98 Jul X 133313)5 1211 


SX Bonders OcGeinee 
IX Develop Bk Singapore 
SX Singapore 
SX T. umduiue Finance 
S 27 Transalpine Finance 


I TODec 80 1202 19441000 

IShWAua 1(7 li)» 1449 

7 b 37 Nov Mft 1008 IU 2 BX 
6 %-TOJul X 100 * 1086 109 

iftlSOd 97 1109 ns 4 . 7 * 


SS Aeasn 
*« AmcvNv 
s»a Amro Bank 
SIX AmroBa* 

>40 Dim Mch State Mine* 
SS Dan Dutch State Mines 
SIS Own Dufth State Mings 
*60 EnntaNv 
SX GW-Brscodea in» 

* W 0 Holland Airlines F/n 

SS NederlaataeGatanle 
SX w e a r S w tdeeGoewile 
sn Nodertondse Gownta 
S 3 B Rhine* Gtariionm W/w 
S 2 B Philip* GtoeHomp X/w 
*75 Rabobank Nederimid 
SIS Shed InK Fbiance 
SM Shell inti Ftarax 
1300 Shefl inti Finance 
*500 Shell InM Fhnnce 
SWO UnHaver Hv 
SIB umevwNv 


NETHERLANDS 

llbTOFeb lfll h usi 


llbTOFeb 101 ft iui it jq 
I TOAug 9 *ft 902 10)1 IX 
13 TONOV IMto \IJ» n <7 

18 %. TOAug 95 1200 11)2 

IbTOJutl 93 1149 IIS *07 

lb TO Aug n 1 t)i hjj 9/1 

11 ** TO Mar 92 %. 1109 |I 46 

15 ft TO MOV 106 b 1107 U 52 

8 b TO Jul Mft HX 1137 8)8 
12 to TO May tOOh UM 1219 


4 b TO Jul 81 11)9 8 J 3 

11 TIMar 96 1193 lilt 

8 It Dec Kft 1275 IG.X 13 
7ft 17 Jan 97ft 11X1215 111 
TbTOMor Wb 11.11 107 

■to TOFeb 88)6 1109 uu 
9*6 TO Ji 4 94 to IU 9 951 
»% - TO Jul Kb 1091 1 143 M 06 



fbTOOd Tfv 
9 toTOAw Bt! 

9 T 9 JOT 7 TV. 

11 TO Jul 10061 

iih w jui in 

lib 90 AH 184 % 
llbll Fee 101 
14*6 Tl Aw 10 T 4 
lift 92 Jul 1 X 4 

12 TIOd W 1’4 
life 93 Od Ulto 
17 TJDec IX 
llhTiFlb WJto 
llh 95 JOT 97 ft 
10*6 TS Mar igft 
11 TOJMov 

11 T 5 Aug 91 ft 
12 h TO Drc 100 
9 hWFeb f*b 
e « 5 an 97 M 
•bit Jan X 
9 ft 16 Mar Kto 
BblAAW 97 ft 
SftXMav 97 ft 
4 ft TOAug T 7 h 
lb TO Aw X 
49 ) V Jun 97 ft 
9 b TO Jul 97 ft 
7*4 TO Aug 9 Jto 
TtoVOd 92 h 
7 TODec Wft 
lib TO Jan I Kto 
BhTOFet 9 jb 
9 b TO Feb 94 
llh TO Apr IMh 
11 TO Jun IB 
lb 11 Sen 92 
Uft TO Sec iqs 
9 %>TOOd 97 
IftTODec 91 ft 
1 5 V, TO Mar IBAh 
12 b WAw W 2 to 
9 b WMOV 97 
7 b TO Sep 102 b 
Tft 98 Fit) 89 
12 ft TO Aw lOV, 
13 b TO May U 2 h 
9 TOSep 84 h 
Bb TO Dec 187 b 
llhTO Dec 99 ft 
9 V»T 1 FB a/ft 
1 ] TIMar IX 

11 Tl Mar 9 Cb 
9 b TIMar I 7 h 
lift 11 Jun Mi 

12 91 Ju( 1 C 

HbTlAuB 103 
llbll Nov HIV. 
12 ft 91 Dec 103 ft 
lib 13 Jon 97 
HMi 92 Feb N 
BbTJApr a 
Ito TIJun IMto 
lift 73 Jul IlSb 
9 bT 2 D«: 91 

8 b 93 Feb Oft 
! 0 b 73 Mav 9t 
9 ft 93 Jul 88 h 
life 93 Od 100 
12 ft 94 Aw KHb 

13 TOAug M 3 to 
Bh TO Dec X 
9 b 17 64 av N 
6 ft 16 Apr W 6 

lift 17 Od fCb 
■ft TO Jan 93 V, 
7 ft TOFeb 91 ft 

9 b IS Nov 165 ft 
lh WJan 9 ih 
! 2 hWOd ItFA 
11 TO Mor 110 ft 
17 ft VI May JCJ 
TftTOMw Mlh 
iShVDec MS 
llhTIMar 99<4 
8 ft 91 Nev Ml 
12 b 91 NOV UOb 
11 92 DBC 93 

7 fe 93 Ndv IXft 

lOftTOAw IBM 
llto 17 Dec 100 
Hto TO FK 3 97 ft 
BbTOMay 91 
iihTQjm km 
11 %, TO Nov 99 b 
9 b 95 Jun 99 b 
16 14 Aw IXto 
RelAJa ft 

Mbit Juf lUb 

UftXiep 108 %. 
MV. TOMov I 66 to 
7 %. TO Jun 94 ft 
Uto TO Jtn 99 V. 
15 TOAug IQBto 
Uto 17 Od W 
15 to TOMar IM 


II TOMov H 7 ft T 2 JV 1109 
15 IS Aug W 9 b 1143 
llto TOAug Ml BIAS 
llh TO AM Xfe IIS 
lift TO Sep IU 1107 
UhTONav Ml BJ 1 
llh W Fee too %» U 0 e 

I OS TO Apr 9 Tu 1141 

lXeWDCC 97 114 * 

Mft TO Jan X 1147 


109711)7 8.97 
1053 11)8 1)2 
825 9.12 147 
10 X 148 

744 144 447 

10 JO 1008 

100412)9 704 
10 S 11)2 IX 
10.77 11 JI 7)3 
iun U )3 

1102 9417 

I IX 1148 iau 
9JT 9)6 1100 
18.95 1103 

IIS 901 

UJS 15)1 

ia 74 1005 

11)9 909 

U 321105 U )5 

12 J» 

1101 

703 

xxnx 
us 


1249 

1202 

11 ) 5 

12) 1 

1147 

IL 51 1149 
1127 

1340 i«jt 
IIS 110 ] 
1142 1111 

1140 11 X 

T 249 rtU 7 
7)4 
1408 
1080 
1081 
1144 
110 1247 10)1 
11 * 11 * 
1107 9209 

tJJB 023 1253 
1 U 9 1141 1157 
11)1 
443 


ZERO-COUPON BONDS 

^ SAti aW^S, “RS 


NEW ZEALAND 


SX NewZaataM 5 b 1 ! 

SU NawZeaknd 6 ft 1 

S IB New Zealand Ito li 

v 15000 NewZaaland BhT 

MOa New Zealand 10 ft 91 

V 15000 New Zealand 7 ftW 

ss B»*Of NewZeateta lib t: 

sx Dev fth New Zealand 8 hTO 

S 25 N 6 Forest Products 9 « 

S 2 S Nr Farad Protacts 72*6 H 

SS OttsbareMkdng (toll 

NORWAY 


5 b V Jul 9 Sh 909 9.15 5 M 
tft 14 Mar Mft 9 ) 912.11 474 
Ito TOOK 96 to MS 157 

■h 17 Dec ICV, 700 609 

loft 99 Apr ftft 11*7 1141 

7 ft WSep lBh 4)1 >07 

life TOMar rift 1241 T 2 JU 

Bto 95 Jun 99 to KLZI 1 UT 884 

9 TOMar X 1 UA 9.11 

nfeTONav HI to T 2 X 1 U 9 

•b TODec 98 ft 1001 63 


17*5 92 Dec IflOb 1131 
IlftTJMgr 9 * 1 . 11 J 3 


*75 New brvns-v. ip., i| j; u ’5 

J} ! SESCSRSS S - W >» 


GERMANY 

*’5 Ball Finance Eurpor II .-fl’Njv I« 
>153 Bail Finance Europe 9 j* 9 F« t: 
* 1*1 Bg>f C«cr;K A* 118 ! Var n 


SX Norway 
*15 BeraeaCfty 
115 Bamoaora 
*68 Den Nanke Ciedllbank 
SSD Oen Narake Credltbank 
nfcrw Efc B TO M anx 

flkrIB EksaortfeMM 

SX Ek r pgrt Bn ag 

S 59 EkspertBnwn 
*75 Ekscortflf.ro 
SMO Ek BP prf fm oig X/w 
n»r 3 B Ekffurritama 
SU Elneort tta pra 

1100 Eksoorthnons 
S 100 Ekswtfmgns 
nkr 250 EkSPOrHiflars 
nkriso Norge* Hraoteklgrenin 
S 3 NoraesKommunotbank 
f X Moron Aamnutalbank 
SeO Nergn hanunuraloank 
* “5 fwrga* »xn>ni^.o,Oon. 
1 ~i Neryn Aomwwnal 3 M 6 

S» Norprpe 
*» Njrp.pe 
nkrlK Nets. Cfllfl 

**> Vun.l'i 


5 ft ISAW Or* 900 90 S U 4 

8 TO Aw X ll.II 1180 051 

■felt Feb 97 lift OB 907 
I] TOMov Ml lilt 1242 

1116 TO May 9 ] 1282 1210 

Mb 1500 Wh IM HUB 

iiv. 16 V* ioi mis im 

9 16 Sea X 10 X 1049 9.18 

llto 17 Jan IMh U 4 S 11.19 
9 ft 17 Jul 95 b 11 49 1220 9.92 
12 to 17 Sep tft ft 11.14 1281 

i: TO Jan 105 %, 10)5 11)7 

llhTOMa, 1 X *1 129 J 11.91 13 X 
itiTOFeb Wh 11)6 1102 KU 5 

lift TO Nov 99 11.72 1142 

HtoTOJm 'BT. 9 ta 1(07 

10 9 18 Aar IDO 1 -: 102 M 0 . 1 I 1045 

7 *; S 7 FeO 95 1 U 3 1142 709 

7 -: TO Dvr 15 IHH 12)4 Si: 
8 ' i 91 Dec 85 ! 1895 1137 9M 

8 i *2 Mu. a lOri 1183 9 88 

9 iTflApr X . I'M i;tr 10 63 
9-86 Aar ; 11 jfl 1189 C 4 * 
8 . PVc i "BUM =*> 
■ 0 -PDe. I.'J 993 lfi* 

6 i jue M, %■' *( i"). 


Amencmiinif Grauo 
AttaB Davdea Soak 
Atlantic TOdifletd 0 * 
Baker inti Finance 
Beatrice Food* O'* 
embed SaupQraFIn 
Cateratflor fm Sarv 
CatarpiFW FblServ 
CltkaraOra Finance 
Du Pent Or* C apital 

Eksoortflnoro 

Etadrteihi Franca 
Exon Copltal 
GazDcFracra 
GscDe Franca 
Gtawrai Etedrie Crad 
Oengrof EledrtcCred 
Gawrai Etadrtc Crad 
General Electric Crad 
General Electric Crad 
General MHh Inc 
general IMh Inc 
Gone Or* Fbnancc 
GmacO's Finance 
Game O'* FUkKe 
Gull on Ftaance 
NcraicinvettrwfdB* 
Perm-Tv jc Global f.n 
PepsiCo Cadi* 
Pravco Capital 
Philip Morris Cred .1 
PrvCenliol ReaHv Sec 
Reireldi RiO » 

Sears Che'Uas 
Sears D.rrseo* 
Sco'.Orf'ura 
Socg.s* E.pgrr Crrin 
5 >ee,sn E.nertC'K" 
0 c»‘ 'If.e 

F.** 

■ e:-* -e*r.*. 






31 AUB 28 H 

SMB 

7 ft* 

tOft 

4 FeO 1992 

S 5 B 

190 

25 b 

S Fee 1992 

>225 

1 X 7 

MJB 

9 Fed 1992 

>250 

1 X 2 

25 ft 

71 Ac* 1992 



















3 X 900 

3 Oct 199 * 

>160 

IK* 

SZto 

11 See IfW 

*588 

I 9 X 


ISNovHX SMB 

I 9 W 






1 Mor 199 * 

*150 

1987 



IB 

1 X 3 


17 FB 199 ] 

4480 

1982 





IS 

ITto 

18 Jul 1994 

S 4 B 


15 AUB 2 B 4 

S 2 S 0 

196 * 

1109 

15 Aug 2813 SIOB 

1 * 8 * 

4000 



1982 


3 Fob 19*2 

SBC 

X! 

1001992 

SiB 

1 X 3 

Z 3 b 




25028 

Tl Sep ( 99 * 

S ISB 

1 X 1 

31 b 

17 Feb 1994 

* 35 * 

1 X 2 

Uft 

* Feb 1992 

1 IB 

1 X 2 

24 

2 Mor 175 * 

S 125 

1967 

»b 

6 Jun 199 * 

S 2 B 

1982 

27 to 

15 JOH 1999 

1 3*5 

1 ?M 

2889 

19 Feb 1992 

s*» 

1982 

»>r 

IB Fvb I 99 J 

1 *® 

1*82 

KT 20 

27 Mu, 199 * 

4*08 

1982 

23 -; 

i: jui ix 

46 ® 

194 * 

»■* 

18 -AJ. 199 * 

*788 

1*82 


1 1 4 ec i«* 

*758 

1613 

32 615 

I* ■«, t*’ 

*441 

’ 44 * 

a 

if-B I 5 IS 

ICi 

i«: 

u- 

a. F-; iw; 

t:v 

its: 

s . 




Soam 156.87 Apr IX 11)8 14)8 

AUMP.MB : 17 Jul 91 i 10)8 1291 757 

Ini Irwfituf Noc Indu t 3700 94 °73 \Zi4 8)7 

Perranar Eft *6 Dec 9t 10)7 11)3 U 5 

Feironer 7 b TO Jan X fl.ri U 9 i it! 


TOAug 
TO Off 
TOCd 
TTFoO 
Tl Mav 
910 a 
TJ Nlor 
TOMar 
TO Apr 
TO Sea 
TO Ndv 
11 TONOV 

iri T 4 Sep 
Tito Tl NOv 
H 94 Dec 
11 . ■ to Jon 
5 to 1 C May 


S we den I 2 'i 

Sneden 12 *, 

Swecen !v 

Sweden I 4 i-. 

Sweden 12 *, 

£»ece" 9 % 

Sweden if: 

Sweden S': 

Sweden llto 

Sweden 11 % 

%g« As 9 -., 

a*e a r-j 

Anss Choc: 9 ft 

Eiacrjiu* 10 : 

£r>csicn Lm 9 to 

Er.csicn Lro 4 ft 

Er-cucn km 6 ft 

E-fsicn l*" 7 to 

Fcrsrror.s > raffgroPP ljh 
Farvnsru LroHgniPP 13 b 

DaeicyerSer. T, 

GdnenBur 3 Oh B%. 

Grocnces •% 

G raenaesawB 4 % 

SraeRsesaera I 1 : 

Mojo MoOch Dcmjlo 9 

QkaA .0 ISb 

FkbCT.. 8 n =e*'-C S' IX: 

PH Bcnk r" tMW 12 

Sacb-Scn.s 8 '., 

Sandv.k 9 ': 

Sandvlk 9 

Sxndrisvicn Airline* 8 

Scmrctf 8 b 

SCarrof 7 h 

Skene- En*. .Ida Bon. 11 : 

Skcndi E RSk.ldC Bcnv 9 

SXA-H 8 

Sacra 5 i a o * O Bcrn a 9 -: 

Sjeraenkems* Ban. 8 b 

S.enAs HcrsMsoankefi »*. 
Svemkc Haneertbcnken Ub 
S retake rmsclKtanken T^i 

5 y«nse* Invest Bank * 
5 »er-g« inves! Bcnk T— 
Svrngc* >nvMf 3 on» llto 
Swroim Expert CredH 17 t 
Sweaifi; E toorf Credif I 0 '» 
SwediFi E .port Cradl! 15 b 
Swedish E*pon Crec-I 12 to 
Swedtal) Euwrt CredH llto 
Swedish Efforf Credll IX* 
SwearaiEkcwtcradii lift 

Sweden Etporl Crtdir IS - 

5 wea**n E-porl CredH Ub 

Swedish E*P 5 rt Cidif 14 b 

Svredlsh Side Ca 15 b 

Sy 5 S»enika kro« 9 ’- 

vefra 9ft 

vdI-c 8 

Valrs 8 

veira ll 

SWITZERLAND 


1144 ILSfl 

1100 lit? 

11)1 11)9 

474 ?97 

11)7 11 « 

IIH 1270 


1 IS* 12)8 

11 ) 1 1234 

10 X 104 * 442 
11 X 1137 

12 ) 5 12 J* 

1141 <032 

1149 1 L 50 

7 J* LX 
1141 1 IX 
110 ] 1101 
1141 13 U 9*5 
1093 11 TO L 77 
11)5 11)4 9 )fl 

1240 

1103 1148 
11.71 1 5.70 
11.92 1202 
1256 12)4 
1201 

1244 12 M 
11)5 T 286 

1241 

11)4 
12 X 
13)4 


125 

Oba-Getgv mil .X s« 

eb 93 Nov 

82 - 

905 

8)1 

SiB 

Cre 4 l: Surtsc Banaroa* 

WiTODac 

W 

10)6 

HL 81 

sue 

avail SubM aatiomas 

tOft TOMar 

99 

10)4 

IUI 

4150 

CreaitSuuseBcnW.-ta 

7 98 Jun 

107 ft 

LG 

60 ] 

use 

Creci’ Siuiif 3 ch V» 

7 *90 Jup 

Dh 1103 

101 

*100 

Crwit Sul*** Fin X/w 

llto 92 Fcfl 

98 to 

rzD l 

11.98 

Sto 

P-, Hi- mtl Ww 

kto TO Jun 

99 

707 

602 

*240 

Swiss Bank Carp O.’t 

10- *90 Jon 

99 ft 

1038 

KLM 

*103 

Swiss Bnni CoraWTw 

6’6 T] Jun 

X 

Li9 

kS\ 

s too 

Swiss 5 ork Caro X7n 

W- 93 Jun 

76 

10)2 

102 

sao 

Union BkSwiReruna 

into TO Nov 

MB 

10)2 

1875 

*100 

Union Bt Sw-tceriand 

10 TOMov 

X 

imi 

10)8 

*150 

un.cn Bk SwitMriand 

11 TONav 

100 

tax 

1 L 00 

*100 

unen 9 k SwitzarlOM 

ITU Tl Jim 

M 3 ft 

tui 

110 * 


* 150 unfed kingdom 
S X A - n rose /ml Faiance 
t X Airtacse inti Finance 
1 15 Allied Brewer.e* 

» lOooa Allied Ca 
*75 Allied Lyons 
IX Ailtad Lnra 
S >5 Amoco lull Exp tor or 
S X Borders Bcnk inll 
SiB BardovsO'sinvesf 
HB Bess Chorrirgfon 

m 100 Bd IM/ Finenee 
1 100 Bat Inll Finance 
1 100 Bar i nfl f, nance 
*44 Seechgm Inrl Bermuda 
IX B/cc Finance 
SX BowattrCore 
IS BowatarCorp 
114 Bn fish Land i nff 
19 British Origan Financ 
19 BntiOiOnOrii Financ 
SK 0 BrlHsh CUygen Financ 
*9 BMtah Sleet Carp 
SOS Brirell Finance 
SX Cadbury Stt n , t p ee. Or* 
*25 COPffoi Coimhes Prop 
59 Cavenham Irrfl 
ft IB Charter Consol id O/s 
IX CitaaOrsFlnmCE 

SX Comme rcia l Uman 
S 3 Caurtaulds inti Fin 
123 ceartould) inll Fin 
*53 Em I Flrmce 
SX Ftnmce Far Industry 
IX Finance Far industry 
S 75 Ftaance For Industry 
IX Finance For Industry 
IX Finance For Industry 
117 Fmra* For Industry 
IX Finance For Industry 
*50 Finance For Indurtrv 
1*0 Finance For Indusfrr 
SX Fftaa inti Flnra* 

MO Ftava ■ nh Finance 
SX FhaminH Finance 
no GestetnrrHokSnc 
>25 Goto Ftatoi Bermuda 
19 Grand Metroo Finance 
SU Grand Metraa Hotel t 
*Z Grand Metraa HoW* 

*B Cktonflan %rra/ ExQran 
SS Gu* internal tonal 
>15 Gus lidemorlonat 
SM Homhra 
SS Hull ta us 
*9 Hawker Sldoetav 
SX Hin Samuel Group 
SX HawoefiAlauFIncnX/w 
SIB let Finance X/w 
smo let imt Finance 
19 id lull Fbianra 
IX l no WI Hotel rra 
SIB InvHton In industry 
19 inveufara In Industry 
ISO Investor* in Industry 
125 Ktabmort Benson Lons 
I Lasmo E»n Hn c n c e 
SX Legal GenensAewr 
51 B LiOVBJ Eurofirrancp 
548 Lamho Int! Finance 
SIS MeiraaatEMte 
SX Matronal Etfofe 
*75 Mkkand inll Finance 
>75 Miateno Inti Flnra 
S 19 Midland InK Finance 
* 1 M National Coal Board 
*50 National Coal Board 
533 NDft-Grtndtav* Bre* 

*75 Nofl WdmlnSer Ban)- 
*50 NaltWestmkWerBa* 
SIB NoHW B Ii n lMlotFlw 
115 a Nall wtrimirater Fm 
SX Pteatev Inti Finance 
SX Rank Oraamtohan 
SX Redtond Finance XJw 
IX Read (nederiortal 
S 48 Read I literati nal 
SX Rhm International 
540 Rtvn Overseas Finance 
STOO RtoTInte-ZInc Financ 
117 RnftsdindinvHofdbi 
I IS Rowrtree MackJnlash 
IX RawtdreeMacfclniorii 
SX Roracai inti Fmmce 
*9 Scotland Inti Finance 
>9 Sam-rid mu Finance 
■ 15 Sean iBternattaeal 
19 Selection Trad 
SX Slough Estate* Fin 
S 12 Slough Estates Lu« 

SIS Tovm City Neder land 
IX UbRnanceJQw 
S 5 D ur Flnra* 
sx United Blscutt, tu»| 

SX United DeratoforsTrus 
SX Wellcomo Foundation 
115 WMIteeadCs 
IS vrllllartu G/rta Baik 
1 W 0 wllaoat* Gtvra Nodort 1 


Bh 93 Mat X 1 L 571334 1032 
• TOAug 94 V, 11)2 1278 9)2 
BbTOOct 91 11.121254 941 

I 0 *-. TOMar 94 ft 11.14 1141 M 42 


8 b 91 Dec X 7.12 409 

lift 91 Feb 94 b 1241 1202 

life TO Oct ItBft 1214 12)5 

llto 18 Jan WI 1203 n .12 

8 to 1 * Dee Mft 10)7 1104 AS 
8 ft 97 Sep Xft 1144 rau 
7 ft 17 Aug 90 12)41301 U 3 

7 ft -57 NOV 89 ft 1207 11)0 AJ 8 
11 TOOK IB 1095 1100 

lob 91 Dec 97 V. 11)3 1105 

8 to 44 Fee 17 1145 1221 8)1 

7 b nr Fab 93 1108 un 8)1 

9 b TO Jul N 3274 UM 
9 to TOMar 87 11.99 12)5 Uto] 

8 171*09 TO 1148 list 170 
15 b Y 8 Jc* 93 1255 11)4 

HbTlMay lOto 1 LX 1149 


7 b 17 Feb 93 1108 

9 b TO Jul N 1274 

YtoTOMav 87 11 .X 

8 17 Nov TO 1148 

15 b Y 6 Jc* 93 1255 

HbTlMay unto ub 
IK 93 JU 1 Xh 1212 


(felt Jon 93 ft HL 7 I 11)3 9)2 

life TO Oct WOft IL 72 1102 

73 * TO Oct 85 ft 11 ) 011)8 904 

9 11 NOV 97 ft 11)2 1293 133 

IftTODec 91 1149 1375 1832 

7 ft 47 OO 82 M. 17 U 97 9.15 

UhTOAw HJJto 1172 1189 

IftTODec X 12181231 9 X 4 
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9 b 19 Dec »Sft 1097 11.15 1071 
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9 toVAW 93 
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11 TOFeb X 


1292 1214 1384 
1099 1109 1005 
1101 11)2 


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18 TOMar X 1840 3847 It 


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12ft TO Jul ID IU 
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■B* 2 S S! 3 . uiS 

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8ft TO Mar rr /1 IBID 12)3 137 
9ft TO Apr 92ft 110313)7 1027 
9ft 45 Dec X 11091109 940 
7hT?pfl 91ft 11)4 1227 847 
Uto 91 SOP 103 12)2 1204 

BftTONov 95 11450)7 80S 

TO Jun Xft 1121 1539 1104 
TO*TOJun ft 1209 HL71 
■hTOJta « 11)21210 04fl 

7ft 92 Feb 93ft 177 UM ID 

0 TOMar X 11)7 M42 

13 S9Mor Wlft 11)0 1102 

llh TO Dec HB ft 11.14 HJ3 
RPt.9300 94 1141 1UQ 

8to 17 May 95 1074 1250 141 

U T2 Jul 102V, 1243 1248 

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lift 94 Dec *S 124812521211 
12 TO JIN X 124* 1234 

lb 14 Dec 96ft 1801 11)6 907 
> TOFw D 1213 1443 944 
8b 96 Dec X 11X11.11 9.11 
.JbTJSff in. 1211 13)8 M45 
lift TO Dec 95b 1234 1201 

1 17 Sea D 11.11 1143 840 

MTOOO 93 11)3 1257 fjg 

7b 17 Nav 92ft 1095 114* 8)8 

9 ttJul Mft 11)3 9)] 

9 14 Jul 94ft 11451209 9)2 
1« 91 Dec >1216 1203 11)4 

lib 92 Nav lflBto 1141 11)2 

lh 94 Jun ej 124714)1 855 
lb 94 NOV 95 1101 1208 9)1 

tftTIMor Xh 1278 UXB UX 
Mb TOMar IB 1189 UK 
9 17 May M 12X121* 9)7 
I TOMar 13 1834 111) 148 

9 TOAug BJft 1144 13)1 HL7B 
life 93 Nov 95 1257 1224 

Uh TOAug U4ft 13)5 12X 1388 

MSB** w sx sj] io.is 

7fe WOct 84b 12)1 909 

life 93 NOV 97 1243 120* 

lOfeTO May 92 to 1282 1145 

MtoTOJufl IX 1217 114* 

lBtoTOFeD 99 1043 M05 

Fb TOAug Xh 12KU07 909 

I 18 Feb n 1UIU1S 139 

Sb X Feb 94ft 1237 14)0 907 
ITO Jan 91ft 11)113.12 8)4 
CfeTOAw Xft 1101 901 

II 2 Jut 95 1224 114711)8 

9 TO MOV 8TO1 1257 1204 1017 
8b TO Dec 89ft 1230 13)1 9)8 
Bto TO Jun 93h 1141 1144 ID 
Mft 90 Aw 15 1100)2151101 

I 1 " 17 Jun 92 12X1138 8.97 


13 59 Mor Ml VI 11)0 

■IftTODec Wlh 11.14 
mb 93 Oct M 1148 


7 hTOFea 
lift 94 Dec 
12 TO Jlk 




E 

ro— : 


TOAW 
>TO Feb 
17 Jun 
>14 Jul 
1 92 Dec 
194 Dec 
93 Jan 
.WOct 
. 9 * Nov 
i IS Mor 

■ 16 Aar 

16 Jul 
WOct 

,90 May 

■ TO Oct 
93 Mar 

.99 Aw 
TOSep 
tTta TODec 

ir^ TOMOV 

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lib TiOd 
IMTO Jun 
17 b TO Aug 
I Ito 19 Oct 
I ft 92 Aug 
12 to 91 May 
TOFeb 

- Tl Jon 
i TO Jul 

1 91 Aug 
-TO Jill 
-TOMar 
-UFA 

- TO See 

i TO Mar 
i TO Aar 
1 91 Dec 

17 Jun 
TO Ski 
TOM ar 


.19 MW 
TODec 
1 94 Mar 
TOJUfi 
19 Od 
TOMov 
IS Dec 
TOAug 
95 Jan 
TOAW 
TO Jan 
93 MOV 
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TOMar 
TOMov 
TODec 
9 i Dec 

WJui 
19 460 ? 
TOSep 
91 0 d 
TOMar 
17 Jun 
TOMar 
TO Oct 107 V. 
TOJul Xft 
91 Feb X 
lAuo 94 ft 
SDec 95 ft 
Sian 94 b 
9 Aw m 
I Mar TOft 

1 Dec Xto 

■ AW 182 
kAoo 9 * to 
7 Od Ml 

7 Apr IX 

■ May 105 v. 
5 Aar 181 ft 
i Jan Mlh 
1 Jul 99 

I Jul 
I May 
'Od 
I Feb 
I Fro 
I Aim 




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>7* 
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I Dec 1 K« 
I Apr 97 V 
IJtll * 4 *. 

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B 

' 5 ep 102 
i Mav w 
I May 9JV, 
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I Frb 


dk h» 

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aim 99 
Dec 9 ?h 


oa rah 

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Dd vosh 
Feb X'i 
Jun Wto 
«ta hi 


Feb 



Jui 

105 ft 

430 

Oct 



Am 

97 

1 14 

Am 

U* 

US 

Jan 

105 ft 

387 

AW 

lXft 

133 

AUC 

itoft 

IX 

Oct 

102 ft 

142 

Jtri 

99 ft 


StP 

97 b 


Aw 

Xft 

00 } 


Mft 90 Aw 
Ito TO Jun 


II 9 ] Jiri 91 ft 7244 1207 1202 


UNITED STATES AMERICA 


Acona 

AabtaLMrCcautety 
Alaska Hantaia Fla Co 
Amoelpfl C oPttaf 
Amae Inti Finance 
Amerada Hell X/w 
Amorican Airline* O/s 
American Brandt* 
Amertran EtamCred 
Anartcaa EeprenO/i 
Amartean ExprataO/s 
American Faralaa Pwr 
American Furalan Pwr 
American Savinas Inn 
Amertari Saving* mil 
American Totem. Tetae 
AmocsOII HSMNKrt 
AmwueorGusdi mtf 
Artzsnc P* Finance 
ArtnnoP* Finance 
Arizona Pt Ftnanra 
Artnna Pi Finance 
ArmcoO/i Finance 
AJhkrid Oil Finance 
Astra 

Altanllc RIcMtaldOs 

AHantte Rlctrfimd O* 
A»«oO/iCaolrpi 
A VCD CL * Oriltai 
Bangor Punta Inti 
BwtaOl America 
Bank Of America 
BankamenmO/e 




lktoTOJd UTft I4L79 15)0 

llto 19 Feb 105 1*51 12*1 

16 TOFeb Hi IUI IS2) 

1 1 111 X Jan 97 12)9 1211 

!5h TO Dec W2 1402 1507 

I 17 Jun 93 1143 1349 840 

lebTIFeb 112ft lie* UTO 

DV, x* 4 a» Wto 1123 H9S 

db TQ Mav IMb 043 1113 

9to15Mar 100 &M 90S 

10to TO May 96 112* UUI 

Sto TOJul BBft 9)7 191 

13 17 Aar into 1076 11)4 

B TOMar rPi 120* 801 

Mb 90 Sap Wft 11)3 10)8 


West LB 


^e\K 

% 

■ ‘■Sfc 


(Continued oa Page 10 ) 



Eurobonds • DM Bonds • Schuldscheine 
for dealing prices call 

dOsselpobf 

Westdeutsche Landesbank. Head Office, RO. Box 1128. 4000 DusseJdorf 1 
International Bond Trading and Sales: Telephone 3 26 31 22/8 26 3741 
Telex 8 581 881/8 581 882 

London 

* Westdeutsche Landes bank, 41. Moorgate. London EC2R 6AE/UK 
Telephone 638 6141 - Telex 887 984 

Luxembourg 

Wes l LB International S.A.. 32-34. boulevard Grande- Duchesse Charlotte. 
Luxembourg. Telephone 4 4741-43 -Telex 1678 

Hong Kong 

Westdeutsche Landesbank. BA Tower. 36th Floor. 12 Harcourt Road. 

Hong Kong, Telephone 5-8420288 • Telex 75142 HX 

Marketmakers in Deutschmark Bonds WGSt LB 

V\festdeutsche Landesbank 





■ XKV 5 - 

■•Ah.. r 

























HF 


■St v Or- 


f i 1 MONDAY, JANUARY 21, 1985 


EUROBONDS 


p 


By CARL GEWIRTZ 

International Herald Tribune 

ARIS — Undaunted by the substantial volume of unsold 
Eurodollar bonds still on their shelves, bankers la y n rh*H 
another $1.13 billion worth of dollar bonds last week 
beating terms that were about as aggressive as those on 


the previously unsold paper. 

Underwriters can afford such bravado for two reasons. Many 


Celeutotoa by ttiu Luxembourg Stock Ex- 


of the fixed-coupon issues generate hidden com missi ons 
the banks arrange a private parallel transaction whereby the 
issuer swaps the debt for something else. These extra commis- 
sions, of course, are only earned by the one or two banks that 
bring the swap partners to- 
gether. ■■■■ 

But all members of the Eurobond Yields 
managing syndicate can earn For Wm)c Ended Jon. 16 

extra profits thanks to their U-S-S Is term, inti Inst- 1140 % 

current easy to **fa»an u-s,s tons form, ind. 1)44 % 

U.SJS medium term, iiuL — 11.98% 

money to finance their bond con4 medium term 12.12 % 

holdings. A bank last week French Fr. medium term 1M6 % 

had to pay only 8V4 percent Yen lB *® rm ' ‘"t' 1 — 7.15 % 

(calculated on an aimual ba- IS SSum™rSTZZ S 5 

sis) for one-week Eurodollars ecu long term 9.94 % 

to finance the purchase of eua long term 9. 39 % 

bonds bearing annual cou- |"!l 1 lns, — !!£ £ 

pons of dose to 1 1 percent. colcutotoa by the Luxembourg Stock Ex- 

This mismatching of assets creme. 

and liabilities admittedly is _ _ __ _ 

risky because if short-term Market Turnover 

ratts suddenly explode, the JsJMMUT 1S 

profit would become a loss. Totei ^££2% 

Biit this is a low risk, as the 1x4494 102774 xi9x 

Federal Reserve currently is Eurodear 294554 274174 143a 

seen as providing ample • 

money-market liquidity to 

keep short-term rates at least steady if not declining. 

“The low short-term rates are underpinning the whole mar- 
ket,” asserts Julian Jacobson of Kidder, Peabody Securities. 

Thus, while bonds are trading at two to three points below the 
official offering price — traditionally the cause for angry recrimi- 
nations between banks usually resulting in higher coupons on 
subsequent issues — underwriters may still be earning a profit- 

in fact, there was no such bickering last week and the mood 
among professionals was cautiously optimistic. The reason: in- 
vestors were beginning to nibble at the new issues, spurred by the 
belief that interest rates may be driven lower because the U.S. 
economy appears to be recovering from the thud-quarter slow- 
down much more modestly than had been expected. 


Market Turnover 

For WM Endnd Jot. 18 

(Miltons trf U4. Dollars) 

Non-da tior 
TaM Dollar Eoolvaiut 

Code! 124494 102774 X19X 

Eurodear 294554 774174 1438. 


E ARLY last week, the government resorted that December 
retail sales, which most analysts had predicted would rise, 
actually fell and that industrial production that month rose 
less rapidly than had been forecast The real improvement in 
market sentiment, however, occurred late Thursday when the Fed 
reported a $2.1 -billion increase in the money supply — less than 
half the amount most analysts had expected. 

As a result, there were substantial sales of dollar bonds Friday 
and managers were breathing easier about the heavy inventory 


they had ^«arninlated in the first two weeks of the year. 
BP Finance, which offered $150 million of seven-year p 


BP Finance, which offered $150 million of seven-year paper at 
par bearing a coupon of lift percent, was one of the principal 
targets of mvestors. The attraction was enhanced by tiie fact that 
the British oil company had not tapped the Eurobond market in 
□early 20 years. 

L.M. Ericsson was another name that would be expected to 
excite investors, but the terms on its $100 million of three-year 
notes — a coupon erf 10ft percent and a premium issue price of 
100ft cutting the yield to 10.32 percent —were a touch too stingy. 


While the notes coded the week at a relatively modest discount of 
99ft, the price was not a true measure of market sentiment as lead 


: sentiment as lead 


manager Citicorp was actively supporting the price. 

By contrast, late Friday, Hf-Aquitame offered $100 million of 
four-year notes bearing a coupon of 10ft percent priced at par. 

Japanese issuers remained active and split into two classes — 
those that could be easily sold into Japan and those that could 
not. Paper issued by parent companies can be taken into domes- 
tic portfolios without falling into the Ministry of Finance guide- 
lines on the purchase of foreign securities. As a result, C. Itoh sold 
$100 mini on of seven-year paper at par bearing a coupon of 10ft 
percent and Mitsubishi sold at par $200 million of 10-year, 10ft- 
percent bonds and $100 millio n of seven-year, lOft-percent notes. 

While Japanese institutions have been willing to accept such 
low coupons for unlimited access to dollar securities, bankers 
report the demand is definitely slackening — in part because so 
much paper already has been purchased and in part because of 
rumors that the ministry is studying whether toping this loophole 
in its guidelines. 

Securities houses and city banks are not permitted to issue 
(Continued on Page 11, CoL 1) 


Last Week’s Markets 

All figures ore os of dose of iroefag Friday 


Stock Indexes 

United States 


Money Rates 

United Stales uowl PrwJM. 


DJ Indus — 142744 

DJUM. 14747 

DJTrom.— 57772 
S&PH30 — 16947 

S&P5D0 T7142 

NYSECp_ 9944 


UnfWk. PtbvJMl %C»W 


DototoxoPnxkaM/BaeaeSe oeil fesi 


ljta» +078 
14746 +021 
57252 + 091 
14547 +149 
14740 +244 
9449 +2.11 


Discount rate 

Federal funds rata. 


Jaes 

Discount 

Call money 

60-dnv Interb ank 


FTSE100— 147580 
FT 30 99450 


1 4<U0 +XI8 
986,10 +244 


Hong Kong 

Hans Sena- 144043 


Lombard 150 550 

Overnight 540 540 

Mnorrth Interbank — 580 575 

tfraam 


145259 +054 


Bonk base rale 12 1050 

Call money i2Vi 81* 

3-montti interbank— 1H5/16 10*fc 


Nikkei DJ_ U4UL04 11,81224 +083 


DoBar Lostm. prwjn. %avc 

Bk Encrt Index _ 14650 14540 + 049 

Gold 


Cammenftfc 1.16740 1.14270 +120 

itaVS lrd exal roaJunaCfs*tkCa.Lonlati 


London pun. fix. 5 30800 3005 +123 

to*atiacU<b*frmat8BdJtnmjgmE Cos* 


Currency Rates 


Late interbank rates on Jan. 18 , excluding fees. 

Offkiai fixings for Amsterdam, Brussels, Frankfurt, M3an, Pans. New York rotes at 
4 PM. 


Amsterdam 15895 

BnnwKtO) S3JB3S 

Frankfort 11711 

Leedmw ?.tas 

MUm 144940 

■tewveme) 

Peri* 9725 

Tekn 251925 

Zartdi 2475 

(ECU 06999 

1 SDK 0974610 


95925 1,94180 

4495* 

2621 1388- 

2751* 01372 
68108 144111 
987816 NjQ. 


SJ=. Yen 
134.14*14144 9 
21787 2543 * 
11822* 175* 
3406 28163S 
72875 7871 
2863 25385 
16398 3425 * 

9111 

UHII* 


25113 448138 
14984 614686 


1JJ71B 177471 
26049 347853 


rulju Cerrmcy 

knfBW. 

0*151 AostraSosS 
mw Austrian xMDao 

URS6 Melee fia.fraac 
0787 Casadtaat 
HOBBT Oadshkraee 
01501 FtaaHbmort 
Mam areak*BCtma 
OIW HeeeKMS 


Dollar Values 
> 

_ comacv 
Eevlv. U58 

09786 kUC 14219 

U0U HreeflaiMWi M1.9S 

3769 KreoBld ter 03059 

04012 Mnk».rimt1 
01087 Nerw. kroo* 9.1975 

MS* PULPOSO 105695 

MASS Pmt esatbo T 7 U 0 

027*1 Sradlrtni 3583 


* Per 
B»W. C ™ T UAI 
04551 SiDWWtl 2.1775 
0438 lAHamraed 22631 
00812 IUmim 83105 
00057 Span, peseta 17580 
OIM 5wed. krona 9.12 
ABBS TBfmS 3917 
O03 66 TMtaM 27J95 
02723 UJL£- (firtafl 2573 


t SttrVag: 1.1455 IriSfi E 

tol ConmimaiH tranclW AmowihneecW ie buy one ownil Icj Amounts iwdad te hw one dollar I •) 

Units ot IBB (x) Units oi 1800(9) Units of KUU 
NO: net queM; KA.: not owlUie. 

Source*; Boom au Batotint (Brussels); Banco Commerdoie uatlena IMHon): Bonaue 
notional* de Ptoto (ftixtsl; IMF (SDR): BmuoAnbe «* intomattenoto mnyostbsemmi 
WkKrr, rlyal Ottiertiotn tram Stouten and AP. 




Hcralb^SSribtinc 

BUSINESS/FINANCE 


Page 9 


Managing Syndicates Profit 
From Low Short-Term Bates 


Carbide 
Directors 
Are Sued 


Payment Asked 
For Stock Losses 


Reuters 

NEW YORK — A lawsuit has 
been filed against 18 board mem- 
bers of the Union Carbide Corp., 
alleging that the failure to prevent 
the accidental discharge erf poison- 
ous gas from the company’s plant 
in Bhopal, India, was a breach erf 
their duties. 

The lawsuit was filed in U.S. 
District Court in Manhattan by 
Northcester Corp. of Elkins Part, 
Pennsylvania, which owns an un- 
disclosed amount of Union Car- 
bide common stock. 

The suit said that as a result of 
the fatal Dec. 3 leak, the value of 
the company's common stock out- 
standing had declined by S960.6 
million. 

Union Carbide stock, which fell 
to $3175 from $64,125 after the 
news of the Bhopal disaster, rose $1 
Friday to close on the New York 



Renault Chiefs 
Removal Is Said 
To Be Sought 


Tko N*» York Tima 


Business Outlook for U.S. in 1985 
Brightens as Indicators Improve 


Stock Exchange at $38.75. 

Each board member, the suit 


Each board member, the suit 
said, “participated in errors and 
omissions and caused the company 
great damage.” The suit asks the 
court to direct each individual to 
repay the company for the damages 
it sustained. 

The suit alleges that the board 
members failed to heed a 1982 sur- 
vey revealing serious equipment 
and safety problems at the Bhopal 
pesticide plant. After the Ink. 
Union Carbide said that most of 
the problems died in the report 
had been resolved by last June. 

More than 2,000 people died 


By Perer T. Kiiborn 

New York Times Senice 

WASHINGTON — Economists 1 perceptions of 
business prospects for this year have brightened 
substantially, only months after growth nearly 
stalled and experts were predicting a painfully 
slow start for 1985. 

“There are lots of reasons to fed good." said 
Charles B. Reeder, chief economist at Du Pont Co. 

'The economy is stronger than at any time in the 
last five years.” said Arthur Levitt Jr, chairman of 
the American Stock Exchange. 

“If you kind of back off and look at where we 
are, not just at the monthly numbers, we’re looking 
real good,” said William C. Dunkelberg of Purdue 
University, chief economist of the National Feder- 
ation of Independent Business. 

The new optimism among economists goes be- 
yond the government's parade of monthly statisti- 


cal reports on 'inflation, growth, industrial activity, 
constnictiotL retail sales, foreign trade and the 


More in«n 2,000 people died 
when a cloud of toxic methyl isocy- 


anate gas escaped from the Bhopal 
pesticide plant owned by Union 
Carbide, a $9-billion multinational 
conglomerate based in Danbury. 
Connecticut. 

■ Carbide Stock Pvchased 


Earlier, Paul Riduer of the Los An- 
geles Times reported from New 
York: 


The Bass family of Fort Worth, 
Texas, disclosed Friday that it had 


bought the equivalent of 5.4 per- 
cent of the stock of Union Carbide. 

Union Carbide said in a state- 
ment that it was “pleased that so- 
phisticated investors such as the 
Bass interests have recognized the 
investment value of Union Carbide 
stock." 

The company said that it had 
“been informed directly that the 
Bass interests purchased the stock 


construction, retail sales, foreign trade and the 

lilfft 

The reports for November and those announced 
to date for December have taken a decidedly 
positive turn or showed signs of eventual improve- 
ment. 

More important than the movement of the indi- 
cators themselves are changes that economists cite 
in some of the forces that drive the indicators, 
some of which are only now beginning to work 
their way into the monthly data. Economists cite 
four in particular: _ 

• A change in behavior of the Federal Reserve 
Board, the government's independent central 
bank, which is widely blamed for adding to the 
severity of the 1981-82 recession by encouraging 
the high interest rates that have plagued the econo- 
my since 1979. Since last summ er, however, many 
interest rates have dropped about three percentage 
points. 

• The inability of the Middle East oil countries 
to avert a new decline in world oil prices. Rising oil 


prices in the mid-1970s and in 1979 were a leading 
cause of inflation and the recessions. Sharp de- 
clines two years ago and signs of new declines are 
having a bullish effect. 

• The absence of the kind of pressures that 
normally portend rising inflation and then a reces- 
sion, such as shortages of workers, constraints cm 
industry's capacity to meet growing demands for 
its goods, sharply rising demand for loans from 
consumers and businesses, and rising prices of raw 
materials. 

• General good feeling among consumers, 
whose spending accounts for nearly two-thirds of 
all the activity in the economy. Tbetr incomes 
continue to rise and they are keeping their debts 
under control. 

A few economists qualify their forecasts with 
fears that the annual $200- billion federal budget 
deficits could set off a burst of speculative selling 
of the dollar and with it an eruption of interest 
rates and inflation. 

But they have been sounding such warnings for 
three years and the economy continues to grow. 
Accordingly, even those fears are subsiding. 

Late last summer, an d into the f all, many econo- 
mists thought they saw the end of the expansion, 
largely because of an unexpected collapse of the 
consumer spending that led the economy out of the 
recession. In constant 1972 dollars, the spending 
growth rate, in annual terms, narrowed to 0.7 
percent in the third quarter of the year, from 7.9 
percent in the second quarter. 

Economists speculate now that the consumers 
bad been discouraged by interest rates, which had 
climbed about two percentage points from the 
sian of 1984 to a peak in June. Businesses, which 
had expected higher demand, suddenly saw their 
orders collapse. 

That and the strike by the United Auto Workers 
union at the General Motors Corp. in September 
helped drive the economy down to a growth rate of 
(Continued on Page H, Col. 5) 


Chairman of Spanish Bank Resigns 


only for investment purposes." 
fit a filing required by the Securi- 


ties and Exchange Commission, an 
investment group including Bass 
Brothers Enterprises Inc. and 
members of the Bass family said 
that it had been buying the shares 
since Dec. 11 at prices ranging 
from $34.06 to $38.55 a share. 

Their holdings are equivalent to 
3.85 million shares. 

Several analysts agreed that, al- 
though the Bass family has taken 
part in several publicized takeover 
battles, it was unlikely that they 
were assembling stock in hopes of 
gaining control of the company. 


Reuters 

MADRID — Alejandro Albert 
Solis, the chairman of Banco Hi- 
spano Americano, has resigned 
amid uncertainty over a 40-bifflon- 
peseta (S227. 5-million) rescue 
package the bank is negotiating 
with the Bank of Spain. 

A statement by Banco Hispano 
Americano late Friday said Mr. Al- 
bert submitted his resignation to 
the board for health reasons. It 
denied news reports that the Bank 
of Spain would place its own candi- 
date in the chairmanship to tighten 
official control over the bank. 

Banco Hispano Americano, 
Spain’s third- largest bank, has said 
il requires at least 40 billion pesetas 
to bail out its loss-making subsid- 
iary, Banco Urquijo-Union. 


As a result of mounting financial 
troubles. Banco Hispano Ameri- 
cano in December became the first 
major Spanish bank to forego a 
dividend payouL 
The cost of shoring up Banco 
Urquijo last year cost Banco Hi- 
spano Amencano a substantial 
drop in before-tax profit, which fell 
to 1 10 million pesetas in 1984, from 

13.5 billion the previous year. 

Last year, the bank set aside its 

entire gross operating income of 

25.5 billion pesetas to refloat 
Banco Urquijo. 

Banco Hispano Americano has 
other financial problems, banking 
sources said. 

It is the biggest creditor among 
130 banks of Uni6n Explosives Rio 
Tinto SA. the chemicals group. 


which in 1982 called for a resched- 
uling of its debt of 120 billion pese- 
tas. 

The bank itself holds about three 
billion pesetas of Explosives Rio 
Tinto debt, while four billion is 
owed to Banco Urquijo. 

Banco Hispano Americano as- 
sumed an added 50-bflUon-peseta 
financial burden last year when it 
acquired two banks belonging to 
the expropriated Rumasa holding 
company. 

A further setback came in Octo- 
ber, when the government blocked 
the bank’s sale of CarboneQ y 
Compania de COrdoba SA to Le- 
sreur SA of France: 

Lesieur had agreed to pay four 
billion pesetas for Carbonell, 
Spain's top producer of olive olL 


By Axel Krause 

Imematumat Herald Tribune 

PARIS — Prime Minister Lau- 
rent Fabius Ls seeking the removal 
of Bernard Hanon as chairman of 
Renault, the ailing state-owned 
automaker, a senior French gov- 
ernment official said Sunday. 

Record losses last year were cited 
as chief among a combination of 
political and economic reasons Tor 
Mr. Fabius’s decision. Renault re- 
corded losses of about 9 billion 
francs ($925.9 million) last year, 
the largest ever by a French compa- 
ny. It had losses of 1.57 billion 
francs in 1983 and 1.28 billion 
francs in 1982. 

If, as is likely. Mr. Fabius’s deci- 
sion is carried out Tuesday ai a 
Renault board meeting, it would be 
(he first time since the Socialist 
government came to power in the 
spring of 1981 that it has dismissed 
the chairman of a state-owned in- 
dustrial company. 

Mr. Hanon, who holds master 
and doctorate degrees from New 
York's Columbia University, has 
spent his entire career with Re- 
nault He was named to head the 
company in 1981, and his term as 
chairman was renewed indefinitely 
last May. 

The senior government officials 
said that a successor. Georges 
Besse, now the chairman of P6- 
chiney Ugine Kuhlmann SA, a na- 
tionalized metallurgical company, 
has already accepted an offer by 
Mr. Fabius to replace Mr. Hanon. 

The offer was one of several re- 
cent moves that were kept secret — 
including from Mr. Hanon — until 
they were reported Saturday in Le 
Matin, a Pans daily. 

The official said that the decision 
to replace Mr. Hanon had the full 
backing of President Francois Mit- 
terrand, who hinted at the impend- 
ing move in a television interview 
last Wednesday. 

“Renault poses a serious prob- 
lem which must be solved within 
the next few days," Mr. Mitterrand 
had said in the interview. 

“We needed a quick solution in 
light of Renault's heavy losses and 
the need for a recovery program, 
and the fact that Mr. Hanon has 
not done a very good job,” the 
senior official said Sunday. He 
spoke on the condition that he not 
be identified 

The official said that several 
steps were required before Mr. 
Hanon could be removed These 



Bernard Hanon 



Georges Besse 


which Renault owns a 46.4-percent 
share. 

After an aide read him the article 
in Le Matin. Mr. Hanon expressed 
“deep surprise." and said that he 
had not received the slightest indi- 
cation from the government (hat 
his job might be in jeopardy. 

AMC executives in New York 


said later that they were “particu- 
larly shocked" by the fact that key 


include approval by the 18-member 
board of Renault, which is sebed- 


board of Renault, which is sched- 
uled to meet Tuesday. 

Mr. Hanon. who returned from 
New York on Sunday, declined to 
comment on the government's de- 
cisions. Sources dose to him said 
that he will vigorously defend him- 
self at the board meeting. 

The senior government official 
said that Mr. Hanon first received 


news of the change by telephone 
early Saturday in New York, where 


he was attending a board meeting 
of American Motors Corp., in 


management decisions affecting a 
corporation in France were being 
taken by its highest political lead- 
ers. 

Mr. Hanon's removal appears to 
be certain, since the government 
dominates the voting on the Re- 
nault board, and needs only a sim- 
ple majority to evict him. Six mem- 
bers represent government 
ministries and six, including Mr. 
Hanon, represent the company or 
are outsiders named by the govern- 
ment. 

The union leaders are expected 
to protest new layoffs that Mr. 
Besse is planning, according to 
company and government sources. 
About 10.000 people could be laid 
off in France in 1985, in addition to 
the 5,000 jobs that were shed in 
1984. Renault now has a work force 
of 98,000 in France. 

Mr. Besse is credited for a rapid 
turnaround in Pichinev's results 
after it was nationalized two years 
ago. 


HAW Strikes 
Over Benefits 
At Harvester 


U.S. Mayors Seek Foreign Investors MerriU h™* 1 to Open Tokyo Fum 

J O Return In Japan, investment-ad vi- 


The Associated Press 

CHICAGO — More than 1 1 ,000 
members of the United Auto 
Workers struck International Har- 
vester Co. plants in eight states 
Saturday. The union was seeking 
restoration of benefits it conceded 
to the ailing farm-equipment giant 
in 1982. 

Company officials bdd out little 
hope of a quick settlement in the 
walkout, the first against Interna- 
tional Harvester since a 54-month 
strike in the winter of 1979-80. A 
UAW spokesman said some pro- 
gress was made Saturday. 

The strike began after midnight 
Friday when contract talks broke 
down. It involves 11,000 to 12.000 
employees at plants in Illinois, In- 
diana. Ohio and Tennessee and 
parts-distribution centers in Geor- 
gia, Texas. Minnesota and Kansas, 
said a company spokesman. Bill 
GreenhiH 

The job action had no immediate 


impact because all production op- 
erations scheduled for Friday were 


erations scheduled for Friday were 
nearly completed before midnight, 
Mr. Greenhiil said. Most plants 
normally are dosed on weekends. 

The main issue in dispute was 
International Harvester's refusal to 
restore benefit concessions as it 
had promised during negotiations 
in 1982. said Bill Casstevens. a 
UAW rice president who heads the 
union's bargaining team. 

The company asked the union in 
1982 to give up S100 million in 
benefits, including a S120-an-hour 
cost-of-living adjustment. 

The company announced in No- 
vember that it would sell its agri- 
cuiiural-equipinen t-man ufacru ring 
operations to Tenneco Inc. for 
$430 million and posted its first 
quarterly profit in four years in the 
quarter ended Nov. 30. However, it 
also reported its fifth consecutive 
annual loss in December. 


By Martin Tolchin 

New York Times Semce 

WASHINGTON — Mayors of 
America's larger dues have opened 
ambitious campaigns io lure for- 
eign investors in an effort to offset 
their domestic economic woes. 

The mayors are traveling to Eu- 
rope and Asia to bring foreign capi- 
tal to their dues, which are often 
hard pressed by a loss of jobs and 
governmental aid. In return, they 
are promising would-be investors 
economic, cultural and social ad- 
vantages. 

This patient of looking for for- 
eign investors emerged in inter- 
views with more than two dozen 
mayors at the midwinter confer- 
ence of the U.S. Conference of 
Mayors, which ended Saturday. 

Scores of foreign investors that 
have spent billions of dollars in 
U.S. cities, in a trend that has 
gained momentum in recent years. 

“It’s a realization on the part of 
the mayors that we live in a global 
society with a global economy, and 
there is money to be invested," said 
Mayor Ernest N. Mortal of New 
Orleans, the conference president 

The organization has initiated an 
“Invest in America's Cities" pro- 
gram. and sponsors annual visits by 
mayors to Zurich, Switzerland, and 
Hong Kong, where they uy to sell 
their cities' virtues to European and 
Asian business executives. 

Many cities seek foreign inves- 
tors on their own. Kenneth Lipper, 
New York's depmv mayor for fi- 
nance and economic development, 
visited China and Hong Kong in 
July and said that as a result, the 
National Bank of China planned to 
open a branch in the city. 

The Hong Kong and Shanghai 


“We talk to them about the qual- 
ity of life in New Orleans," Mr. 
Mortal said. “We are an interna- 
tional city. We have an abundance 
of energy, a port, access to the 
heartland of America by way of the 
Mississippi River and its tributar- 
ies. We nave a good supply of man- 
power. and a city government 
that’s enthusiastic about their com- 
ing, and will help package their 
financing." 

The quality of a city’s schools 
also is important to some foreign 
investors. 

“The Japanese told us right off 
the bat that in science and math, if 
their kids stayed in American high 
schools and returned to Japan for 
college, they'd be two or three years 
behind,” said Mayor Roger O. Par- 
ent of South Bend, Indiana. 

Mayor Marion S. Barry Jr. of 
Washington said that one of his 
goals was to persuade foreign in- 
vestors that the nation's capital was 
more than a one-indusoy town. He 
said the city has approved legisla- 
tion that made it easier for foreign 
bankers to work in Washington. 

“We’re very aggressive in trying 
to attract international investors,” 
said the mayor, who recently visit- 
ed Peking, Seoul and Bangkok. 

Mayor Raymond L. Flynn of 
Boston said that when a new dcvel- 


up $30 million, and became the 
developer of the hold. They were 
given a lot of attention, a lot of 
encouragement, a very businesslike 
approach." 

Mayor Kenneth A. Gibson of 
Newark, New Jersey, has jour- 


neyed to Hong Kong and Zurich. 
“We're trying to reach out ro the 


E l, Lafayette Place, was being 
d, “we put out the word that 


planned, “we put out the word that 
we were looking for a reputable 
foreign company to build a hotel.” 
“Swissair came over here from 
Zurich," Mr. Flynn said. “They put 


“We're trying to reach out to the 
international financial market, to 
see what land of interest we can 
stimulate," be said. 

Newark’s major economic at- 
tractions are its airport and sea- 
port, Mr. Gibson said, and two 
automobile manufacturers. Jaguar 
PLC of Britain and Nissan Motor 
Co. of Japan, were persuaded to 
build plants in the dry. In addition, 1 
Mrsk, a Scandinavian-Dutch ship- 
ping company, built a major termi- 
nal in Newark. 

Some foreign investment is less 
welcome than others. “There has 
been some concern about foreign 
investment in minds farmland,” 
said Mayor C. Richard NeunuDer 
of Peona, Illinois. “People are 
afraid of losing the land." 

Bui Mr. Neumiller has been ag- 
gressive in seeking foreign inves- 
tors to offset layoffs at the Cater- 
pillar Tractor Co. and the dosing 
of the Pabst Brewing Co. breweiy 
and Hiram Walker-Consumers 
Home Ltd. distillery in his dty. 

He said that the Asia Motors Co. 
of South Korea had agreed to build 
automobile parts in Peoria, and 
that Noel Penny, a British compa- 
ny, would build a large plant there 
to build turbine engines. 


Reuters 

TOKYO — MerriU Lynch & 
Co. will open an investment ad- 
visory firm in Tokyo on Feb. I, 
the first foreign financial insti- 
tution to do so in Japan, an 
official of the new company 
said. 

The company, MerriU Lynch 
Toshikotnon KX, pcpccis to ad- 
vise ‘on international invest- 
ments worth about $200 million 
annually, notably to foreign in- 
vestors on Japanese stocks and 
bonds and Japanese investors 
on U.S. portfolios. President 
Masayoshi Hiramaisu said Fri- 
day. 


In Japan, investment-adviso- 
ry firms are forbidden by law to 
invest diems’ funds, he said. 

Only trust banks and life in- 
surance companies can handle 
discretionary accounts and pen- 
sion-fund in vestments. 

But the Finance Ministry is 
discussing granting investment- 
advisory films access to discre- 
tionary accounts, one securities 
house spokesman said. 

Major Japanese securities 
houses have opened invest- 
ment-advisory firms in antici- 
pation of deregulation of the 
pension-fund market, industry 
sources said. 


NOTICE OF REDEMPTION 
Can.$25,000,000 

16 Wh (nntil March 1, 1985 and 17% thereafter) 
Guaranteed Notes due March 1, 1988 
of 

TD MORTGAGE CORPORATION 
formerly 

TORDOM CORPORATION 


Puruianl lo paragraph 5 of the above Notes, and in accordance with the 
provisions of the Fiscal and Ravine Aeencv Agreement dated March 1. 1982. 


provisions of the Fiscal and Paying Agency Agreement dated March 1. 1982, 
i he Corpora lion intends to redftan all of the above Noles on March 1. 1985 at 
a redemption price of 100% of the principal amount (Can $1,000 
certificate) plus interest lo that date as represented by Coupon F3. 

Payment of the redemption price will only be made upon presentation and 
surrender of the Note, together with the unmanned coupons numbered F4, F5 
and F6 (due March 1, 1986. March 1. 1987 and March 1. 1988 respectively), 
at one of the Paying Agencies fisted below, [f any of the unmatured coupons is 


musing, the amount of the missing coupon^) (Can.5170 For each coupon) 
shall be deducted from the redemption pnee. flic amount so deducted rid) be 
paid against surrender of the relevant missing coupon H. 

All interest on the Notes shall cease from and after March 1. 1985. and am 
Note, presented after such dale shall have no other right except lo receive 
payment of the redemption price of such Note. 

January 21. 1985 TD MORTGAGE CORPORATION 

PAYING AGENCIES 

THE TORONFODOMCSION BANK THE TOBONTO-DOMLMON BANK 
SS King Street West aod Bay Street 62 CornMfl 

Toronto, Ontario London. Enelaiid 

M5K 1A2 EC3V 3flL 

THE TORONTO-DOMCVION BANK TRUST COMPANY 
42 Wall Street 
New York, N.Y„ li.S.A. 

10005 

MORGAN GUARANTY TRUST BANGLE GKnERALE DL 
COMPANY OF NEW YORK LUXEMBOLTIG S. A. 

Avenue dm Aria 35 14 rue AldlWn 

B-IO+0 Bnuaels Luxembourg 


Gold Options (pries ID Sin.). 


Bank recently opened a skyscraper 
at Fifth Avenue and 59th Street in 


at Fifth Avenue and 59th Street in 
Manhattan, and several Hong 
Kong textile companies want to 
open a joint facility in Brooklyn, to 
avoid limits on textile imports. Mr. 
Lipper said. 

The mayors have found that for- 
eign investors are interested in 
more than economic factors. 



fi*. May 

AJi 

290 

3U003Z50 RSD3IJ0 



330 

lamuso BflMtSO 

30503225 

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130 

151 275 400 953 

1425-1575 

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OSD- 125 525. 475 1 

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Gd&ms-xaa) 



Net Asset Value 
on Jan. 3, 1985 


Pacific Selection Fund N.V. 
0.S.J1.42 per D.S.$1 unit 


I Valent White WeM SLA. 


1. Quxi.Au Maaf-BtaK 
1211 G ram I. S*faeri»d 
TO. 310251 - Trio 2S30S 


Pacific Selection 
Fund N.V. 


B-1040 Bnuaels 





INTERNATIONAL HERALD TRIBUNE, MONDAY. JANUARY 21. 1985 




i 


Pase 10 


International Bond Prices - Week of Jan. 17 

Provided by Credit Suisse First Boston Securities, London. Tel.: 01-623-1277 

■ Prices may vary according to market conditions and other {actors. 


^ «Mdte EF 

M0> Pita Mol Lite Carr 


(Continued from Page 8) 


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Export Develop Carp 
Manna Hvdra-EIcctr 
Ma ri na Province 
Mail trim Province 
Montreal Cliv 
Montreal Cihr 

Montreal Dtv 

Madreal CHv 
MonbeolOtv 
Hew Brunswick Pravinc 
HewtaumOand Province 
Newtoundkatd Province 
W ew t ound i nnd Province 
Novo Scolle Power 
Novo Scotia Province 
Ontario Hydra- EMOr 
Ontario Hydro- Electr 
Ontario Hrtnj-Electr 
Ontario Province 
ouebec Hydro 
Quebec Hydro 
Quebec Hvdra 
Quebec Hydra 
Quebec Hydro-Electric 
Quebec Hydro- Electric 
Quebec Hydro- Electric 
Quebec Hvaro-Etecfrtc 
Quebec Hydro- Electric 
Quebec Province 
Quebec Province 
Ouebec Province 
Quelwc Province 
Quebec Province 
Quebec Province 
Quebec Province 
Roval Bank Of Canada 


dm in 
dm 100 
dm in 
am in 
dm no 
dm M0 
dm no 

dm 1(0 
an iso 
dm ISO 
dm in 
am ra 
dm in 
an in 
dm ISO 


Denmark 

Denmark 

Denmark 

Danmark 

Denmark 

Derunark 


Denmark 

Denmark 

Denmark 

Danmark 

Daimoric 

Den mark 

Denmark 

Denmark 


DENMARK 

7*i 8* Feb 
TV. to May 
6V87 Dec 
6 TO Fee 
10 TOMdr 
7V88May 
4ft W Feb 
9ft TO Mar 
7ft W Aar 
7ft TO Nov 
9ft to May 
8*- *93 Fob 
lift 91 Mar 
I 93 Mery 
7ft 94 Aar 


1Q1*. 

rav 

in 

97V 

MTV 

in 

98 1 - 

ion 

M2 

101V 

IQSV 

lOJft 

116 

102ft 

102ft 


4S8 771 

457 770 

474 675 675 

684 6 W 

7.13 978 

6® 765 

751 642 

70 4S7 177 
X0S 1M 

755 778 

410 a.e® 

759 7.97 

7.17 873 

757 758 

748 70 


dm in 

M 

dm M0 
dm® 
ten 75 
dm 64 

Tm'S 

ill 

An ISO 

an in 

dm WO 
dm I* 


M 

S!3 

dm 150 
dm 150 
dm ISO 
dm in 
dm 290 
dm 50 

dm 7S 

dm 60 
dpi 78 
dm 10 
dm B0 
dm 80 
dm SO 


Denmark 7ft 91 Nov 

CopenltaeenCITv TV TO Aar 

CaeeaaasenCHv 7ft 84 Dec 

CanenJtauen Crfv 6V875W 

Ceoenhaaea City 6 -ra Nov 

Coacnhooen CHv 8ft94jan 

C uu ei J r uue ii TtJeonorte 7ft TO Jan 
C uu etri nn w n Teleotwne 7 TO May 
Caaenbapen Teteobane eftTOAer 

CopmEobm Tetaottone IV 73 Jul 

Den Danske Bank BftTONov 

Jutland THeonone « TO Mar 

Jutland Te le chotw 7 1 . TO Fee 

Jutland Tetaebone IWTOFcb 

Menaeee Bank Denmark 7 TO Jul 
Martane Baik Denmark 8ft 98 Jul 
Murtau u e Bank Denmark 7ft 91 Oa 
Martpaee Bank Denmark lift 71 Nov 
Martaooe Bonk Denmark SVi 7] Feb 


FINLAND 


3XS2 

aa 

Finland 

Finland 

Finland 

Finland 

Finland 

HeUlolu CHv 

r matron Valmo 

ind Mine Bank Finland 
indMtpe Bank Finland 
Rautarvukki Qy 
RaulanjukJrl Ov 
Tva Power Comoonv 
Union Bank Of Finland 


SV 96 Feb 
18ft TO Nov 
I TO Dec 
7 TO Aar 
TV TO MOV 
9ft TO Apr 
I 70 Nov 
7ft 71 Apr 

7 72 Jan 
8ft 93 Jun 

8 TO Jan 
8 ‘84 Dec 

7 TO Jut 
SVTO Apr 
1 71 5ep 
6 TO Feb 
4ft TO Dec 


101ft 

101 

99ft 

i 

99ft 

E 

98ft 

S 

is 

IBJft 


TOlft 

186ft 

182 

101V 

101V 

106ft 

102ft 

105ft 

in 

1D4ft 

W4ft 

rav 

99ft 

91ft 

103 

98ft. 

98V 


7 48 7® 

747 7 S3 486 
640 6J4 6® 
70 *62 657 

a^s 

7® 7.12 753 
7® 417 

7® 7.12 

794 929 

757 421 


*24 547 

*51 9® 

60 70 

411 543 681 
657 727 

756 9.15 

7® 752 

444 7.13 

7JD8 7* 

SJttt 729 14* 
551 *98 7® 
7® 7® 7.94 
709 7.14 752 
6® 655 SfiS 
7* 777 

4® 753 409 
657 753 60 


FRANCE 


BtoWAer 


*12 


*02 








9 92 Aug 




167 

dfllBB 



Ift 92 OK 

103ft 

740 

7® 

7M 

7ft 93 Jun 

■ ■ 7* i 

1X7 


7.11 

drain 


7ft TO Jtel 

IIDft 

£51 


7„H 

Ift 91 Dec 


748 


7X3 



7 TO Feb 

WO to 

*72 

£48 


Sto TOOC1 


7*8 

728 

829 




TOto 

*31 

£0 

584 

7 IS Mav 

wmm 

6*4 


*93 



2 ... y 

g |i'V/l 

749 


8*9 

Aft 90 Oct 


*67 


60 





704 



Aft 17 Jun 




*75 


| .. m . nm 

jj: u t. 

■ (' V '- I 'TO 

741 



7ft 93 Mov 

lye^l 




drain 



104 

75* 

731 

781 








£ ,■ . 





Sto 16 Jul 

192 

AY* 

*87 

*33 



j . 

lHTto 

582 

£7] 



101ft 

£28 

*13 

£0 

am 75 


5 Z E 

102ft 

£71 

£91 

8X1 

7 TO Apr 

IDBto 




An too 


■ L ' — 

99ft 

7® 

70 

7 JO 

A 92 Sep 





am in 

I- i 

' ^ "TT 

IB4ft 

7R 


77ft 

Aft 93 Jun 


*78 

kJD 


drain 


j ■ Ul 

I04U 

70 


7*7 

AftTONav 

lOOto 




dm in 


C T 

into 

£H 

*77 









2 "r 

100V, 

£98 



AftTONav 

lotto 

£97 

£61 

*4* 




109 

70 


R77 

*toH Apt 

101 : 



*40 



7ft TO Feb 

102 

741 


7*0 

7 17 Dec 





dm in 


1 91 Mav 

103ft 

731 


7JS 

7ft 1* Dec 

III 

7.14 

*91 

747 



Ift 90 Jul 

105V. 

765 


784 

nil* Dec 


£41 

£94 

7® 




raw 

7 78 



4': 17 Jun 

IKto 

£25 

£07 

£47 

dm mo 


■ ■ . *' 7!™ 

10to 

70 


8Z2 

Ato TO Mor 



£J0 

448 


Credli HattanH 

■ V v • -U 

99ft 

£27 

*45 

£65 








1 k* u. ■*! 'B 


IT. 



r: to Mdv 

104ft 

£19 


7.16 



■ fj -. J 1 J 

g ] 




l(ri- 91 Dec 




*95 

om in 



■ TTjB 

l/v 


829 






dm 30 


BT^* 1 *T 1 

■TT^B 

Xf-'- 


7 Ifl 






dm IK 


•. 

1!. 

rtv 

*44 

*4* 

I § ij 

101 

729 

761 

792 



Br ' 1- J 

101ft 

7J2 


7*3 


I OB 

*48 

*47 

*0 



iDftTOjm 

IBS’-: 

£41 


10.19 

AtoTO Aug 


40 


*44 



8 90 JIU1 

ras 

7 40 


763 

Aft TO Dec 

99i, 

£44 


40 



TVBAAor 

H' > 

£17 

419 

70 

6 to TO Mar 

101ft 

A 04 

5*4 

£42 



7ft 93 Jun 


741 

723 

IM, 

r: TO Feb 

111 1 . 

£87 



dm 100 


■ -i- U_J 


7*1 

70 

818 

7 * TO Jun 

101ft 

*64 


7.14 

dm IK 

• l-l i’ll]' l' 1 J 


KlTjIfl 

7.20 

i.IA 

7*7 




*4* 



I; M Fn,\V)l|_ 1 J H 






A 90 May 
7ki91Aor 


*57 

*74 

761 

*13 

721 


GERMANY 





10ft 91 Sen 

IrHM 

7X7 


92? 









|T[M 



873 










72B 


70 

dm IB 


rik TO Nov 

103to 

6X4 


7X7 


dm ISO Daimler -Bent 
dm 110 DepusMlnllFln 
dm 250 Dresdner Finance W/w 
dm 298 Dresdner Finance X/w 
dm 250 Dresdner Fmana W/w 
am 250 Dresdner Finance XJw 
dm 70 Halrdl Finance 
am ISO KoiAtMf Finance W/w 
dm 198 Kaufbat Fmaice X/w 
dm 100 Kloeckner-HumboKSi 
urn ISO Unde Intel WTw 
dm 380 Veaa Inti Finance W/w 
dm 380 Vebo Inti Fhmcr X/w 
dm 308 Vaiksvmaen Inti Fin 


I VND> HKV 10 10 70 
TVS 94 Feb 111ft 727 729 

4 5® Jun 111 Z54 30 

4 90 Jun 90V a» *61 

8 92 Sep 137 328 456 

8 "92 Sen HDV 7J3 7J1 

8 -91 Jill 183 7J9 777 

1ft -94 NOV 1B3V Z5I 113 

3ft TO Nov 79ft 6.13 *11 

SVTO MOV 100ft 649 433 632 

1ft N4 Dec 707V 280 38< 

4 -93 Dec 124ft 157 121 

4 93 Dec 0ft *27 425 

7ft 91 Mar 102 493 7.11 


ICELAND 


dm SO Iceland 


7V TO APT WV 7JS 718 70 


.erfean Exchange Options 

For the Week Ending Jan. 18, 1984 


Ocitan & cried* Colls 

Puls 

Odilon & price Calls 

Puls 

Option & price Calls 

PUIS 

NModEn 

24to 

20 

25 

r 

1 7-1* 

l-l* 

r 

r 

VI 

J*v» 

J5 

r 


1316 

<1* 



















24to 

3U 


3-1* 

9 

r 






Jan Apr 

Jan 

Apr 



35 

a 

1-16 

13-IA 

to 

Ito 







N Semi 

10 

251* 

r 


r 







Ae'na 

30 

.'to 

r 

r 

r 

a 

11 

r 

3-1* 

r 

r 












r 



IMA 




r-. 

i! 2 13-14 

j»i 

r 

ft 

Homhl 

El 

Bft 

r 

r 

r 

Bto 

35 

3to 

3to 


IMA 

>2to 

30 

1-14 

r 

r 

r 








a 

r 

i. 

r 

r 

JJto 

Wm 

Jft 

5 

r 

r 



r 

to 


3’.: 

NOW*. 



r 


r 



I2to 




Am C.J 

a 

if-. 

r 

r 

r 

I3ta 

■ 1 

M£ 

Ift 

ft 

2 


5 

H* 

/-l* 

to 

r 

Uto 

15 

r 



r 

32ft 

30 


3to 

ft 

ito 

Sift 

a 

t*4 

7i 

r 

% 

Hubon 

3.5 

Sto 

ito 

r 

*1 

4to 

10 


1-16 



Nova 

25 

ito 

3'4> 



Bft 


to 




ilft 

is 

l». 

J* 

r 

l'to 

Bto 

B 

1X-1A 

ito 

i-i* 

17-14 


5h 




14 

B 

ft 



r 







Sift 

55 

r 

IS Id 

r 

r 

30*. 

» 

r 

13-IA 

4ft 

r 

27to 

21 


Tto 



2* 

25 

r 

to 

r 








An- E«P 

ZO 

I7ki 

r 

r 

r 

Bto 

R 

r 

ft 

r 

r 


« 

2ft 

ito 


7 14 

OOECO 

25 

r 

Ito 

r 

f 






3to 

37 

35 

12ft 

f 

r 

r 


55 

12to 

r 

HA 

r 







Perwtiv 


r 

r 

r 

1 a 







ft 

20 

rft 

e-: 

r 

r 

*711. 

« 

TV: 

7ft 

1-1* 

r 

F«b Mo* 

Feb 

May 


«8to 

45 

3ft 

r 

*0 






9-n 

X 

25 

Jto 

Aft 

r 

IX-IA 

4/to 

45 

2to 

3to 

r 

13-14 







48Y> 

H 

9 1* 










33 

40 

r 

I' . 

Ito 2 13-16 

ATto 

71 

r 

1 

r 

r 

Uto 

» 





PMIPt 

35 



r 

t 


58 



ft 


Am Horn *5 

r 

•ft 

r 

r 

Man Han 

25 

ii 

I3to 

r 

1-16 


25 

Bto 


1-16 


43ft 

40 




I9-1A 

54ft 

SS 


r 1 13-IA 


5* 

50 

3-1. 

4to 

r 

7-14 

3Sto 

30 

8<k 

r 

r 

3-16 

33to 

B 

4to 

Sto 

3-IA 

1 

43ft 

45 

to 

Tta 



549. 

40 


1ft 



w 

55 

11* 

1 1-lA 

is. 

J 

Bft 

IS 

» 

4 

r 

ft 

nv. 

35 

1 

Zte 

11-16 

2ft 

43ft 

50 

ft 





5 


131* 

51* 




A 

6': 

r 

r 

JBto 

e0 

3 

1 

i 

2to 

33to 

*8 

to 

to 

ito 

Sto 


55 



r 



18 


ft 




3 

1 

2to 

r 

to 


» 

ito 

8ft 

r 

to 






ft 





r 









38 

r 

to 

r 

r 

214* 

25 

Ito 

Aft 

r 

to 

soto 

« 

Sto 

7 


ito 

Revoa 






Uft 

15 


17-1* 

1316 

19-li 

BeilSo 

3b 

•ft 

3to 

r 

r 

3Bto 

30 

r 111-16 

17-14 

2to 


50 2 HA 

4 

2 

Jto 

2Sft 


b 


r 


Uto 

2IJ 

to 

51A 


r 


.15 

r 

'•6 

2 

7ft 

78ft 

35 

r 

to 

*to 

*to 

soft 

SS 

7-1* 

2to 

5ft 

7 

Roy Out 


r 

r 




30 

Sto 


r 

r 

XX 

40 

r 

1-1* 

r 

r 

MeSOPt 

15 

2 

2ft 

r 

to 


60 

to 

1516 

18m. 

10ft 


50 

ft 

2ft 

r 


Uto 

35 

1516 

Ito 

Ito 



H 

lift 

r 

r 

r 

17 

B 

r 

to 

3ft 

3ft 


AS 

l-M 

7-14 

ISto 

r 

49ft 

55 



r 


34to 

R 

1-14 




*lto 

Si 

4ft 

7to 

r 

ft 

Mo trio 

cm 

ito 

s 

r 

s 


50 

1 1-16 


r 


Searle 





r 


10 

t l-ia 

1ft 

9-14 

r 



Ito 

Ift 

1-16 

Ito 



1-14 

a 

Ito 

4 







40ft 













*5 


ito 


r 



sto 

Aft 

r 

7-la 


15 

2ft 

3ft 



Uft 

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7ft 

Jto 





1 M 





15 


r 

r 

r 

15V, 

35 

u. 

2to 

1-16 

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1794 

30 


to 


r 

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LTV 

10 

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2ft 

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As 



3 

r 

r 

r 


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r 

to 







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r 










f 

to 

r 

r 


45 

r 

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» 



ito 


1 

2ft 

Sumer 

75 

r 


r 

r 



5 

r 





M* 

ito 

916 

17-1* 


15 

3-14 

7to 

r 




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ito 

4ft 


339* 



r 

r 

r 







CrZei 

25 

•'to 

r 

r 

r 

lAto 

20 

r 

to 

ito 

r 

Hally 

ID 

3to 

4 

1-1* 

to 

Xlto 

15 




r 

Pflzer 

35 

4ft 

sv: 

316 

ft 

J4'T 

JO 

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5to 

r 

7-1* 

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B 

7to 

r 

r 

r 

13ft 

15 

5-1* 

1 

IM* 

2 




4 



39ft 

40 

1ft 

2ft 

1ft 

2ft 

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2 

7-1* 

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35 

3ft 

4ft 

r 


13ft 

20 

1-16 

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r 

r 







39ft 

45 

514 

1314 






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r 

r 

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r 


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25 


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r 



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70 







V-. 

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r 

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4 

r 

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to 

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15-1* 

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2 





r 


m, 



4ft 







r 




r 

13-1* 

r 

4ft 
























to 


IS 

1-14 

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22Vi 

r 

to 


20 

r 

to 

r 

r 

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41 


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r 


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20 





Ill's 




r 

1 


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r 

r 

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21 




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70 

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to 

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30to 

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r 

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3 


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39V. 


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7ft 

1-16 

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78ft 

75 

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r 

3-16 

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25 

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67ft 

n 

r 

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r 

f 

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421* 

fill 

1-16 

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1-16 

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r 

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Jun 







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r 

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ii 

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4 

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25 


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25 

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30 




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40 

r 

to 

r 

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21 

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f 

flraoi 



r 


r 

381* 





ito 





is. 

2ft 


15 

5ft 

r 

r 

r 

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51* 

ito 

r 








Vatoro 















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1-14 

r 







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r 

f 

r 


r+ 











r 


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sto 

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r 

3-1* 

25 

25 

1ft 

2to 

151* 

2ta 




r 



ru 

IS 

t» 







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to 

30H 

35 

4to 

4to 



25 

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r 

3to 

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11* 

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n 

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1 

to 

to 

r 

to 

AAorcn 


r 




m 

20 

3 







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r 

r 

38to 

45 

1-16 

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4to 


ID 113-1* 

251* 

1-14 

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2K 

25 

7-1* 

r 







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r 

Sto 

SO 

r 

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lift 

r 

lift 

15 


7-1* 

r 

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20 

*to 

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r 

r 


R 

51* 

2ft 

r 

ito 




r 

t 

r 

Osmyi Interest: 2XHk441 


O'fifie 

70 

ito 


r 

to 

aeft 

25 

19-1* 

2 5-1* 

r 


Alto 

45 

r 

IMA 

r 

r 





r 


r— Nal IraaecL * Hone ottered, o— OitL 


Option 4 once Calls 


Hal IF B 35 

Lo Pac S 
73ft 35 
M4COM IS 
IVft 30 
19ft 25 
N Dftl 25 
25ft JO 


r 17.16 
JV 4 
ft 11-16 
S r 
11-16 Ift 
r S-14 
Ift 1ft 
1 16 r 


Option & price Call* 


2*vt as 

BwnFer 40 
BucvEr 14 
Cnose « 
51ft 45 


1-16 

IV 

ft 

lift 

6ft 


Sift TO 73-16 
Sift 55 
OtemNY X 


V* 

2ft 

V 

r 

6ft 

3ft 


Ift 

4ft 



NEW YORK IAPI— 
The lallowin? auolo- 
Hanv supplied tv the 
National Association 
of BocufifiM Deal- 
ers. Inc. ore tne pric- 
es ai iwtilcti lima 
securities could have 
been sold (Net As*et 
i/oiusl or bouphl 
tvowe plus sole* 
ctoruel Friday 

AS* 


11.76 1255 
1223 13.91 
10.99 12J7I 
15.921760 
32.47 NL 
1955 NL 
1I-5S NL 


Bid 

AST Family: 

Emra 
G thine 
Sec Inc 
Ullllnc 
Acbrn F 
ADV 
Aluturo 
AIM Fuad*. 

CwYW lljt7 1227, 

Grnwy BJ4 H-92| 

HIYId 7 jW 1027 

Summit 527 
Alllcnee Coe: 

1051 11 £1 
955 1005 
1728 18.96 

F unovall 

Amor Capitol: 

651 722 


mil 

Marfa 

Tech 

Alpha 


Carp 

Cmstk 

Enlrp 

Exch 

Fd Am 

GuSec 

Grow 

Harbr 

HI Yld 

Mur. B 

ore 

Pace 

Pravtd 
Von It 


13® 14.711 
11.72 1251 
4529 NL 
I12S 1233 
II.7S 1160. 
2*32 NLj 
12® 1351 
958 1027 
1757 18®, 
923 1DJ39 
1923 21.13 
168 SJ0S 

1*07 1SJ» 

Amerlcaa Funds: 

1021 11.16 


A Bal 
6mU 
A Mull 
Bond 
Eupac 
Fd Inv 
Grwth 
la cam 
1C* 

HE CO 

N Per* 
Ta*E 
Wsh 4U 
A GinFd 
a Her i to 
A Invost 
A inv In 
Am Med 
A NIGIh 
A Nllnc 
Atnwoy 
Amiri 
Aiming 


854 923 
1421 1544 
1247 1263 
1*08 1529 
17.77 13Jo 
15J35 1426, 
10.74 11.74 1 
1065 1164 
14J9 1495 
7.77 449 
967 10.15, 
961 1050 

723 412 
JJH NL 
7j0B NL 
865 NL 
Jan NL 
363 3.97 
17.77 1922 
574 414 
14525 NL 
unovall 


£*e HtrubtiTOrr 

Fad B 960 10^ 

incom 463 SJg 

SIOC* 7.11 727 

Babsan Grow: 
send 
cntsrr 


Gwih 
u.v.b SI 
UMB B 
BLCGI 
BLC Inc 
BCPC Gif] 
Stfoc Hill 


121 N'h 
9.93 NL 
1763 NL 

11.29 NL 
9.97 NL 
15.91 1729 
1*63 15.99 
1460 NL 
1720 NL 


969 NL 
1021 NL 


Bonham CnsJItiJ: 
COTFL 93* Nf- 
CalTFI 
ChpNT 

BwwOrwP; U1 
in Fd 1468 NL 
Fd 1355 
BQTton Co 
CapAP 
.Mod l 

SoGin 
Bowstn- 


NL 

2668 NL 
1067 NJ. 
1*67 NL 
263 NL 



8ld 

A 3k 


10X28 

NL 



CopttG 

13X8 

NL 

Equriv 

11 DA 



9X3 


Ml Yhl 

13.98 


CofWETt Grow*: 






I5L01 

NL 


17 jM 

NL 

T*FL 

IOjM 

NL 

T*FL 

15X70 

NL 


Calvin Bollock: 

ApoGt 727 _7.« 


Bui lev 
Concbi 
Dlvid 
HHnc 


1668 17.92 
762 455 
260 327 

1069 1163 

Month 1163 1265 

Nl WS 1165 IMS 

TsFre 964 10.13 

Copeieio 1164 12.17 

Cardnl 1165 1261 


Cnl Shs 
Chart Fd 
Ow Dir 


1363 NL 
434 NL 
1027 NL 


owetnut 4423 NL 
CIGNA Funds: 

Grwth 1328 U26 
HIYId 964 1031 
incom 627 726 
Mur. IB 767 769 
Colonial Fnndi: 

CouA 1*13 1564 
CpCsn 4729 4826 
C PCs 1 1 47684455 

Fund 1441 1525 
GvSac 1 168 1253 
Grwth HUB 1096 
HI rid 7J-S 
Incom 623 722 
Online 42B 9JJ5 
OpII II 1168 1227 
Tax Ex 12621262 
Cotumbla Funds: 
Fixed 12.18 NL 
Grtti 2261 NL 
Munlc unovall 
Cwltti AB 129 160 
Cwitti CD 1.93 269 
Camposllo Grow: 
Band 9.44 NL 
Fund 9.72 NL 
Tax 668 NL 
l)S Gov 167 NL 
Concord 2524 NL 
Const el G 1008 NL 
Cant Mol 563 NL 
Copley 764 NL 
CbCosh 46.39 NL 
ICIrv CO 1526 1764 
Criterion Funds: 
Cmrce 9 64 1032 
InvQi 96# 1015 
Pilot 40 922 
QuOITx 9.75 1021 


(OFA ln( 10021 NL 
Dean Witter: 

CotTF 1056 NL 


DvGI r 

DIvGf 

HIYId 


465 NL 
13.1* NL 
1391 1366 


IndVi r 1021 NL 
NIIRu: 7® NL 

SearTx 1436 NL 
Tax Ex 969 1039 
USGvi 1040 NL 
wrldw 1065 NL 
Oolawore Grow: 


DMC 

Decal 

DeNno 

Dolch 


9.71 1019 
1367 1047 
1456 2028 
744 413 


Tx Fre 6.91 7^ 

Della 11-45 1351 

blT CG 1168 NL 

Sit ag 1623 nl 


DIT Cl 

dSk-JTbI 2423 NL 


9.70 NL 
15.79 NL 


bodCX SI 2567 NL 
bra-TBur 17.97 1442 
nroyfus Grp: 

ABfTO 13.11 NL 
CalTx 1357 NL 
nrevt 1228 1197 
In term HJ» NL 


Levs® 

GthOp 


BM Ask 
16.15 1765 

967 NL 

NY Tx 1X58 NL 
Sol Inc 766 NL 
TO* Ex 1120 NL 
Thrd C 60 NL 
Eaol GTh 765 720 
Eaton Vance; 

EHBal 767 762 
EHSth 1125 1267 
GvtObt 1221 1169 
*28 666 
423 5.17 
484 966 
4.U 445 
1760 1465 
150 1*67 


Grwth 
HIYId 
incBas 
invest 
S«Eqf 
TaxM 
V5 Spt 1168 1355 
Ebenrtadi Grow: 


Chem 


491 9.74 


EnoR* 10291125 
Survey 13871467 
EmstSSId ‘ " 

EnoUtll 
Evrorn r 39.14 NL 
EvrorTtl 1526 NL 
FPA Funds: 

Copit 963 1067 
Nwlnc 460 NL 
Parmt 130 1421 
Peren I6J8 17.90 
Frm BG 130 NL 
Federated Foods: 

Am ufr 11.12 nl 


CaCsh 

Exch 

Fciilntr 


Inco 

Short 

SIGvt 

StkBd 

Stock 


100 NL 
3522 NL 
90 NL 


100 NL 
1022 NL 
1429 NL 
1329 1567 
160 NL 


Tx Fre 093 NL 
US Gvt unovall 
Fidelity Invest: 

Bend 6J9 NL 
Conan 5*77 NL 
CanHd 1025 ML 
Destnr 110 NL 
1099 NL 
2428 2429 
4460 NL 
1560 NL 
Frwdm 1363 NL 
Gvt Sec *25 NL 
Hllnca 473 NL 
HI Yld 110 NL 
LI Mun 432 NL 
Maori 3562 3641 
Mun Bd 463 NL 
MOSsTx 1063 10.13 
Merc 1374 1313 
110 NL 


DISCV 

Ea Inc 
Exch 
Fidel 


SelFln 2081 2123 

SelHIl 1403 180 

Set Mil 90 965 

SefTch 22242269 
SHUtlJ 175517.91 
SpcSII 110 1128 

UB NL 
J439 NL 
1762 NL 


Thrill 

Trand 

FlduCop 


Fin an c i al Proa: 

Band 628 NL 
Dyna 496 NL 
FnclTx 1423 NL 
Indwi 427 NL 
incam 435 NL 
WrtdT 721 NL 
Fit investors: 

Rnd Ap 1222 1118 


Di: 

Gout 

Grwth 

Incom 


1161 1358 
1141 1252 
723 7.90 
526 620 
IntlSec 1376 1504 
NetReS 464 567 
1264 1463 
569 56? 


90-10 

Optn 


Tax Ex 469 9J8 
FlexFd 1007 NL 


44W1EQ 
0 wall 
Fnd Glh 


569 5.14 
520 NL 
460 4.92 


Femdars Group: 
Grwth *57 NL 
inam 1469 NL 
Mutual 943 NL 
$HCl 2*37 NL 
Franklin Craw: 


AGE 

DNTC 


368 373 
9.75 1061 


FetfTk 1025 1060 


Gold 


8.17 161 


Bid Ask 
Grwth 110 120 
NY Tax 1003 1045 
Option 620 *68 


UHls 

Incom 


*26 *66 
304 320 


US Gov 7.11 741 


Eault 

CalTx 

FrdGG 


46* 524 
*65 *72 
1469 1S67 


Fd ofSW 1027 1 1.10 
GITHV 1IUS NL 


1727 NL 
140 NL 


GTPac 
Goto Op 
SdnElec 
EHnln 
EMnTr 
EHnTx 
5U 
SU Lg 
Gen Sec 


Gkiiel 
GrSsEm 
GrdsnE* 

Grth Ind 

GrdPKA 

Ham HDA 563 *64 
Hart Gth 1066 NL 
Hart Lev 110 NL 
Home inv 10J4 NL 
Har Man Z375 NL 
Hatton Group: 

Band r 1057 NL 




Loomki Sorln: 





1811 

NL 



NUit 

16-50 

NL 

nm 


Lord Abbott: 



Nl 

Affiltd 

9.14 

938 



Bnd db 

9X5 10i£ 

35.15 

Nl 

Dev Gl 

7J4 

BM 



Incom 

3JQ 

130 


NL 

Tax Fr 

9A3 7S.lT 


NL 

To* NY 

9X0 10-13 



ValAp 


1900 20.77 

Lowry 

888 

9.70 


Cnilf 


9J8 1019 


Emra r 1028 NL 
Gwth r 1312 NL 


Opt Inc 
Gvtsc 
Natl 


9.1? NL 
925 NL 
1037 1060 


NY Mun HUB 100 
IRISICh 1463 1563 
IDS Mutual: 

IDS Aa r 529 NL 
IDS Ear Sit NL 
IDS I nr 525 NL 
IDS Bd 461 4.78 
IDS Dts 647 661 
IDS Ex 42B 563 
IDS Grt 1527 14.18 
IDS HIY 19* *17 
IDS NO 767 428 
IDS Prog 663665 
Mull 1069 110 
IDS Tx 30 364 


Steck 
Soled 
Varied) 
ISI Group: 
Grwth 


16.17 17.02 
7.70 411 
723 413 


669 498 

. 374 *09 

Trst Sh 1057 110 

Industry 657 NL 

Int Imrsf 969 11161 

inv st Portfolio: 
Equity 921 NL 

GvlPI tt£5 NL 

HIYId 478 NL 

□pin 826 NL 

ITS Grow: 

Inv BOS 929 1056 

Hllnca 1378 1466 

MaTF 140 1S2« 

*68 411 
1363 NL 
1*10 NL 
113® NL 
1395 1416 
826 498 
11.77 NL 


Inv Resit 
islet 
twGtti 
iwlnst 
jp Grin 
JP Ineo 
Janus 
John Hancock: 


Bond 
Grwth 
US Gvt 


1*29 14S3 
1375 1166 
471 947 


Tax Ex 957 1040 
Koutmn .14 NL 


ineem 

Grow 


Mun B 
OPtn 

Summ 

Tech 


417 469 
1167 1375 
HI Yld 1003 1025 
IhtIFd 1255 1323 
415 45* 
1128 1363 
7321 2437 
1076 11.76 
Tot Rt 1325 140 
US Gvl 476 9.13 
Keystone Mass; 

Cus Blr 1551 nl 
C us B2r 1757 NL 
CtH B4f 70 NL 
Cus Kir 823 NL 
Cus KJr 628 NL 
Cus Sir 1453 NL 
Cus 53r 761 NL 


Cus Sir 
inti r 
KPM r 1136 NL 


529 NL 
468 NL 


Bid Ask 
TxFr r 722 NL 
Kid Pea r 1465 NL 
LeuaMas 2227 NL 


LehCap 
LOhlnvsl 
Lev ran 


1760 NL 
1657 NL 
7.11 NL 


Lexington Grp: 

CLdr tr 11.72 1260 


Goidtd 

GNMA 

Grow 

Resh 

UndDv 

Undnr 


361 NL 
762 NL 
417 NL 
1565 NL 
23JB NL 
14*6 NL 


Lutheran Bro: 

Fund 1413 1493 

Incam 856 9-01 

Muni 492 728 

ftm Flaond: 

MFI VJ5 1408 

MFG 1060 1050 

MS NC 965 1034 


MS VA 
MIT 
MIG 
MID 
MCD 
MEG 
MFD 
MFB 
MMB 
MFH 
MMH 
MSF 
Mathers 
Masdwl 


CopJI 


961 1430 
1126 1314 
1067 1150 
477 90 
1039 1120 
1375 1*82 
1060 110 
1391 1392 
90 9.92 
620 722 
969 1017 
494 70 
2060 NL 
2238 NL 
neb: 

110 1*60 
1927 21.14 


Eau Bd 11.13 1159 


FedSc 

FdTm 

Htlnc 

HI Git 

Int Hid 

InTrm 

UMat 

MunHi 

Muni In 

PocFd 

Phnlx 

SclTch 


90 HUD 
1161 NL 
77t 410 
100 1069 
9 43 1831 
1054 1026 
928 968 
9.10 90 
762 731 
1620 1733 
1093 110 
9JM 968 


MMAHI 
MwBBV 
MSB Fd 
MdlGvl 


467 410 
1026 NL 
1961 NL 

10.11 NL 

Mut Ben 1150 1257 
Mntsal of Omaha: 

90 NL 
50 413 

439 9.12 

Tx Fre 1401 1489 


MfiQuai 
Mut Stir 
Nat Avia 
Natfnd 


17.13 NL 
5159 NL 
966 9.90 
11.70 NL 


Mol Securities: „ 

Baton 1*09 141? 


Band 

C0T«E 

FedSc 

Grwth 


incam 

Stock 


324 3.49 
1101312 
110 120 
431 496 
730 767 
496 750 
9.10 941 


Tax Ex 4S4 901 


TotRo 

Fqlrftl 

NalTefc 


664 451 
424 961 
1318 1331 


Naikmwlde Fds: 
NatFd 1029 11.12 
NcIGHl 7.97 862 
NatBd 942 1068 
NEUfe Fuxtt: 

Equli 19 J7 21 6S 
Grwth 2032 22.09 
incam 1055 1167 
Ret Eq 1455 20.16 
TaxEx 4M 7.16 
Neeberaer Berm: 
Enrar 170 NL 
Guard 39 J9 NL 
Ubtv 193 NL' 
Mortht *62 NL 


BM Ask 
Purtn 1415 NL 
NY Mun 169 NL 
NY Vent 7.0 411 
Newl Gt 2*91 NL 
Newt Inc 83* NL 
Nicholas Groan: 
Ntchol 26-fia NL 
NKD II 1125 NL 
N Chine 3*3 NL 
NEInTr 110 NL 
NE InGt 110 NL 
North Star: 

Apollo 1061 NL 
Bond 9J3 NL 
Region 1*61 NL 
Stack 1300 NL 
NoVflFd 1323 NL 
Nuveen 761 NL 
Omega 1021 NL 
oppenbelnier Fd: 
AIM 15J7 1667 
Direct 1862 2055 
Eqlne 491 7 35 
Oppm 447 936 
Gold 438 497 
HI Yld 17.13 1437 
Prom 2122 2174 
Rbcv 1121 1334 
Saect 190 2123 
Target 1558 1657 
Tx Fre 3U82 B0 
Time 1322 1336 
OTC Sac 1552 1667 
PcHZCal 1139 NL 
Pome Webber: 

Atlas 869 958 
Airier 132* 1469 
GNMA 9.00 1023 
HIYId 9-81 1027 
InvGrd 961 10 25 
Paxwid 1161 NL 
Perai Sa 411 NL 
Pern Mu 434 NL 
PermPrt 1057 NL 
Philo 407 827 
Phoenix Series: 

Baton 110 1112 
CvFa 1522 17.18 
Grwth 1316 1463 
HIYId 489 9-5* 
Stock 1262 1314 
PC CP 1435 
Pilgrim Grp: 

MOO C 766 761 
Mob In 487 470 
PAR 2312 2246 
Pllo Fd 1374 1461 
W a m r Fund: 

Bond 492 9 75 
Fund 1967 71® 

II inc 1550 1694 

III Inc 1334 1458 
PUIrnd 1161 NL 
Price Fundi: 

Grwth 1*63 NL 
Glhlnc 1363 NL 
incom 426 NL 
inti 13J* NL 

N Era 1750 NL 
N Hard 1360 NL 
ShTrB 562 NL 
TxFrl 450 NL 
TxFrSI 563 NL 
PrtnPTE 921 9.75 
Pro Sorvkies: 

MedT 9.10 NL 
Fund 10 m NL 
Incom 426 NL 
prudential Bocbo: 
AdlPtd 2313 NL 
Equity 14.95 1403 
Gltri nr 1061 NL 
GvISc 1065 MU 5 
HIYId 9.79 1450 
HYMu 1*12 1*79 
MuNY »® NL 
NDec 1228 1228 
Option 1463 1S.90 
OuQltv 14.93 1661 
Rsch r 60 NL 
Utility 110 12.1B 

putnem Fuwn: 

Conv 130 1*70 
CalTx 1358 1*26 
CapU 754 NL 
CCArp 4467 4725 
CCDsp 447447,94 
IntoSc 11-47 1W4 
Int Eq 1439 17.91 
Georg 11.15,12.19 
Grolftc 11.1012.13 
Health 1565 17.10 
HI YW 1407 1*14 
incom 629 70 
Invest Ifl-IS 1169 
NYTx 14.73 150 
Optn 1466 1165 
Tax E* SMI 220 


USGId 1425 1466 

vista 1541 1484 

vavaa 150 140 

Quasar 4563 NL 

Ratabw *00 NL 

ReoGr (341 140 

ROChTx 100 1099 

Royce 7® NL 

S F.T Ea t. 922 1062 

sataco secur: 

Eqult 964 NL 

Grwth 1*69 NL 

Inco 1318 NL 

MunlC 1123 NL 

StPaul Invest: 

Caail 965 100 

Grwth 11 JO 1262 

Inca 950 io.li 

Sped 1*69 NL 

IScudder Funds: 

CalTx 929 NL 

□evel S70 NL 

COPGr 139* NL 

Grolnc 1325 NL 

incom 110 NL 

■ nil Fd 21.74 NL 

MMB 70 ML 

S^l^FuiSi? NL 

Aetton 723 

Band 70 327 

Eau tv 319 567 

Invest 434 9.11 

Ultra 759 8J0 

Selected Foods: 

Am Shs 100 NL 

Spt StW 170 NL 

Sofia men Grow: 
CwFd unovall 
CmStk unovall 
Camun unovall 
Growth unovall 
Inco unovall 

MossTx unovall 
MIcfiTx unovall 
MlmTx unovall 
NallTx unovall 
NY Tax uneven 
OhieTx unovall 
MMiml Gnus: 

Baton 90 NL71 
Band 419 477 
Com S 170 T9JM 
Grwth 1302 U23 
Sequoia 400 NL 
entry . _10J5 11J5 
acenw Fanas: 
ATIGt 670 NL 
AorGr 1061 110! 


FdVal 452 60 

Global 19.93 2868 

1338 19J5J 
120136? 
135J 1*23 


HIYId 

MoGvt 

MMun 


Isieri-ei Gl 

10.99 

NL 



Caail 

1134 14-581 

Inco 

7S2 

8X2 

inve3> 

784 

8X9 

Suet n 

&.7S 

7XB 

Truer 

11X2 12_17| 










1*49 15.171 

Swlnlnc 

4M 

NL 

S«»v®r in 

19X3 20X51 

State Band Grp: 


Cam SI 

£15 

£83 

Divers 

*03 

63M 

Prows 

7.77 

M9 

51 Frm Gt 

9A2 

NL 

SiFrm Bl 




5tSlreet lev: 

Exch unovall 
Grwth r unovall, 
invsi 640 *4.451 
Steadman Funds: 

Am Ind 22* NL 

Assoc 0 nD 

invest 10 NC 

Ocean 6.10 KLJ 

Stein Bee Fds: 

Bond 34S NL| 

Cop Op 200 nl| 

Obcv 359 NL 

1 S.T1 ML| 


Sped 
Stack 
TaxEx 
TetRet 2167 NL| 


1461 NLj 
311 NL; 


Unlv 

SiratCm 

siratfnv 


15JI NL 
60 70) 
564 41* 


Slrol Clh 17.17 NL! 
Slrowin it 93 NL 


Bid Ask 
StmgT 162* NL 

Tel IncSh I1W 
Temptoton Group: 
Fran 10.93 11,93 

Global I 3X04 

Glob (I 1061 110 

Grwth 965 10.77 

World 11.91 130 

Thornton Madman: 
Gwth 110 NL 

Inco 90 NL 

Opor 110 NL 

Tudr Fd 1322 NL 

20th Century: 

Gift r *38 40 

Grwth 1339 NL 

Select 2367 NL 

Ultra r 477 40 

USGv 9339 NL 

Vista r *57 459 

USAA Group: 

Gold 70 NL 

Grwth 130 NL 

inco 10.92 NL 

SMI 1*52 NL 

TxEH 11.97 NL 

TxElt 110 NL 

TxESft 100 NL 

Unified Mg rout: 
Acum 9JJ5 NL 

Gwth 17.95 ML 

Inca 110 NL 

Mull 1X22 NL 

United Funds: 

Ac cm 
Bond 
Gvt Sec 


inlGtn 


768 361 
SJ9 S69 
521 563 

„ SJ8 50 

Can Inc 1*79 1416 
HI Inc 1377 1*17 
Xje 1425 
439 60 
42551? 
563 664 
961 10.39 
563 393 


Incom 

Muni 

NwCari 

Retire 

ScEna 

Vans 


llfd Services; 

GWSttr 5SM NL 
GET 1X00 NL 
Growth 498 NL 
Prspct 63 NL 
ValFrg 10® NL 
votoe Uee Fd: 

Band 1161 NL 
Fund 110 NL 
incom 6-33 NL 
Lev Gl 1761 NL 


VKmpM 1*64 1558 
VKPUS 1513 150 


CopE f 6264 NL 
DBsll 3863 NL 
Dverl 4351 NL 
ExFdl 10435 NL 
ExBb f 9435 NL 
FWEI 54.9b NL 
ScFIdt 99® NL 
Vaeaaant Brow: 


Expir 

Gold 

ivesl 

Mm 

NoesT 

ODIv I 


3165 NL 
6J9 NL 
1527 ML 
110 NL 
3530 NL 
1473 NL 


TC Int 7*99 NL 
TCUsa J1.I8 NL 


GNMA 

HlYBd 

IGBnd 

ShrtTr 


90 NL 
80 NL 
7 Mi NL. 
1314 NL 


ind Tr 2060 NL 
MuHY 90 NL 


Mu in Lb 1319 NL 


Musht 

Wells! 

Wallin 

Wndsr 


1522 NL 
1X47 NL 
1244 NL 
1197 NL 


Venturi n 10.15110 
0J4 383 
We In Eq 1*33 NL 
WSIffnl 1351 110 
Wood Strothers: 
aeVea 3331 NL 
Neuw 1764 NL 
pine 1268 NL 
YesFd 344 377 
NL— No laadlkoles 

charge} 

I — Previous days 

auaiex-Rcdempthm 

charge mov apply, 

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Fun Electric CdW. w 
Full lait Flnenct Hk 
Mourno-Ckim. Ltd 
Jooon Airlines 
Jason Devttae Bonk 
Jason Drvctaa Bank 
jaoar Fhnner Municia 
japan Svntn Rubber 
JukoCdlM 
Kantai Electric Power 
Case City 
Kobe City 
Koeearv 
Kobe City 
Kobe City 
Kobe Citw 
Kobe City 
Kubota Ltd 

Lena- Term Credit Bant 
MIujUVu Heavy 

Niiftubatu Heavy Min 

Mrlsuoani Heavy X.* 

M.isutMx Metal W/n 

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Nippon Telrgro Teieati 

Rnyttrm WaiOi W/w 

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7 ‘; TO Jul 

7ft 91 Jul 

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Ift TO Fee 
7ft TO MCr 
7ft TO Fee 
5ft TO Jul 

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7 TO jun 
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7ft 87 Dec 
7:81 if 
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CONVERTIBLE BONDS 


Amf Security 


—Coov. Price pita— 


9ft t* Sea 
4ft 89 Jan 
4ft TO Jan 
4ft 87 Mar 
5 ,l j89Jan 
TOOa 


*» 
STB 
SN 
140 
S25 
IK 
S84 
157 
130 
130 
199 
SIR 
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170 
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149 

150 
1120 

120 

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1120 

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120 AtaaEnahnertno SftTOMrr 

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SR AllnomatoCo 5ft t* Mar 

SIB AllroiTnlaCa 3 TO Mar 

130 Asrtil Ouitcol Co 7 TO Mur 

115 AsksCo 5ft TO Jan 

170 Bridgestone Tee Co 5ft TO Dec 

180 Canon Inc BftTODet 

150 Canon Inc Aft TO Dec 

150 Canon Inc 7 97 Jim 

114 CtoiNianon Pruning si. 86 May 

ISO Data Inc IftTOAvg 

SH DaWpgen Ink Cheynlu 4 TO Altar 

SIS Dalm House Induilrv 7ft VI Mor 


Aon Ah 
Alum 7940 
AlirsutaseCapH 1708 
Alusuhselnfl 
Amro Bonk 8SJ2 

Babcuck Nedefimd 

Bbc Brawn Bneri 5X4 4ft TO Dev 
Bbc Brown BomnlOiS 4ft 85 Dec 
Baecham Fin 339*2 6ft TO Sen 
Boors Co LM *%■ TO Aug 

CiboGduy O/sUO 4 TO Jul 
Crodll Suisse BrAmmcn 4ft TO Dec 
Cndll Suisse Bahamas 4ft TO Dec 
Elect rowaft Finance J TO Jun 
Euavler tuu 4848 
EnnkJ Nv4IJf 
EsseitoAb 

Gervuis Ctanone J3 

Haisan 0/s Finance 
Hanson O/s Flnoace 
Hooaovera 34*2 
Id Finance 125 
la Inti Fin 134X7 
Inchcase Benrtu 151X3 Aft TO Anr 
ladKoee Berm 93X7 0 TO Aim 
hiierdiapO/swa ' ‘ 

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Mefroaalihm Estate 
Mgel-Hennessv 465 
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Mid. 

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125 t Feo S3 ISJimW 5krn - jL- M.975 
9Us l Sens* maiunty hfl 131*0 - hn iztjias 
nil lAJanll maturhv 


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R- 167 
10® 197 
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7ft 89 Mas 
5 87 Am 
9VJTOOCI 
VlsTOOcl 
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BWTOOO 
6ft770d 


SftTOOd 
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8ft 8s Jan 
7 TO Jan 

4ft TO Feb 

Rothmans mil I4B1 48 Aft TO Jun 

Smafos Flnmica 5JX) 5 TO Dec 

Sando:0>s£AS 4ft TO Dec 

SmtavW Ab2L74 Aft 88 Mar 

Staler Wooer 13445 SftfiJAIV av 

Survalnance 6ft TO Jun 

Surveillance 4V; "94 Jun 

Swiss Baik Ca Q/s Aft TO Dec 

Tartar Wtatanw IMI Bft TO Dec 

Thom MM F«iann 7 88 Jul 

Ubslhnembaurgl 10 4Vj87May 
Ubs (oonama) 1100 5 89 Mor 


fflki 

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mafurtlv 

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140 

140 

1 Jan 70 

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nil 41 TO- Ml 41X23 



525 

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17 Aar 78 

l5Seu»J 

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1 Jul 77 

moiurllv 

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550 

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15 SOP 18 

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125 

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1 Jul 93 




520 

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SR 

97 

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maturity 



4® 

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81 

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motarlfv 

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525 

132 

1 May 80 

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Ml 5802 - hll 1*241 


525 

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7Qd«S 

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281 


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I Jan 49 maluriri 


195ft 1500 84 lMtl 


I *ta> 78 iSeoTO 
13 140077 IB Mar 92 

73 iSFebBi 15 Jd 95 

97W 2 Apr 79 marur.ry 
1 00 93 maturity 
IFMJSI 15 Dec 95 
7jaiM 2 Apr 99 
14 Feb 74 rrMlurihr 
I Jan 73 matur<tv 
I 0083 moiurllv 
31 Ocl 77 maluriiy 


83 

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119 

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I Jon 73 14 Mav 87 p 115 - P24B214 


I Jul 13 maluriit 
1 Jul B4 maluriiy 
1 SeaR maneilv 
9JV] 15 Jan || I Nov 90 

90 1 Nov 78 10 Jul 81 

125 1 Jun 77 maluriiy 

97 I Feb B0 maturity 

JAPAN 


956: XADTB4 77 Mor 99 
93 I Ndv 79 IS Mar 94 


SIBSO 
5 1958 
1 M0 

P247 -P53ZJ38 
0348 - 038579 

in 


21 1-52 

4024 

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S3 117 
90 4.10 
58*7 4.10 
1.94 J4D 
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37X3 2*3 
3J» 9X2 
148® 2*3 
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1X4- 1J9 
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14*09 Z27 
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1281 I® 
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2118 UA 
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SR Dalria SecvrlMei 
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HR FuliNuLM 
SU FuruhawaEtadric 

1« S5S!gSf, L (Sp 

1150 Hitachi Ltd 

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150 Ito-YakodeCa LM 
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3 TO Mar 
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5 TO Sep 

SftTOMar 
5V: 89 Mar 
Sh 97 Feb 
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TOFR 


77 

1H 

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131 

137 

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23.12 

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Y 84828 - 9*2377 

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Y 1159 - 1305*97 

1234 

W1 

Y 457J0- 53.198 

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Y 486*0- 479895 

232 

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Y 470 - 511851 

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IJI5 

Y J99 9Q- 471.1S 

141 

89 

Y 58210- ATOZI7 

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Y 13430- *U7I 


UQ 

Y843 - WU79 

1788 

2*4 

Y 268*0- 29*965 

ITO 

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Y 510(40 - 432JN 

221- 

1X7 


SIR Jvc Vidor Camp Japan 5 97 Mar 


128 Kaa Sami Co Lid 
SIR Kawasaki Steel Ca 
5 SB Komatsu Ltd 

ISO kontaMroku Photo 
140 Konhhkoku Ptiata 
IB KnhtauklvoCDLM 
SU KrowaHakkn Knavu 

19 MakJH Elec Worts 
130 Man* Cnl Id 
ISJ Mon* Ca Ltd 
SIR MonriCoLU . . 

SIM Motusmia EhK liwkn AftTONav 
SMB Motannila Elec Works r.: to nov 
SR MlnebeaCa LM SlvTOSap 
*39 Mknutia C oiot C a TftTOMar 
SR MllnaiM Camera Ca 
SU MIKubUilCarp 
SR MltMbniCars 
SU Mitsubishi Coro 
SH AAitsubitfri Electr Co 
SIR Mitsubishi Electr Co . 

SIK Mitsubtsnt Heavy Ind 4L TO Mar 
STD MWhiI R eal Estota A TOSea 
IK MitpA Baal Esiatn 7ft TO Mar 
SR Murala IdmuitadurJng 5 1 * TO Mar 
SHO MuraHMmwlaclurlna r: TO Mor 
1 IDB Murata Manitociurina 3W80Mar 
S19 Hec Corrwratkm r.v88Ntar 

139 Nltaoto Engmeerina Tri TO Mor 

SH Nlppan Electric 5ft TO Mar 

140 Nippon Koaaui 4 TOSea 

SIR Nlppea Kahan AriTOMar 

150 Nippon 0<1 SVi to Mar 

19 Nippon Oil TftTOMar 

STD Nippon 5cflui 7ft 71 Da 

STD Nippon Seiko 3ft TOM 

SOB Nlvson Motor SfttoMar 

SR Klsaha Iron Carp 8 TO Mar 
J 15 Nmo Electric l ndial 6 TO Sep 
S3* Hina Electric i naud t u Sea 
SR Nino Electric i ndait sftTOSee 
Sto Mvk Luw Nippon Vusen 7ft TONtar 


TO Sep 
SftTOMar 
7ft TO Jun 
4 TO ACT 
4 TO Apr 
7 TOFoa 
ift 77 Dec 
eft TOA4IS 
4W7I Jan 
A TO Jan 
3i: 99 Jan 


5 TO Mor 
4ft 71 Mar 

6 92 Mar 

eh 94 Sea 
SftTOMar 
Sft-toMar 


U Dec 81 25 boo 9* Y 441*8- 490*52 
I Oct S3 25560 98 Y458.«- 475590 
5 JanB4 23Septo Y7033JD- 75711*3 
IJlilBI 23500 94 Y 48158 - A98X57 
I Men 84 23 Mar TO v UTQta- 1477971 

111 llJdBI 71 Mor 96 Y3R> 340X77 

146 8 Feb 82 21 Sep H Y£IJ - J77A3I 

78 U Jul 81 23 Sep TO Y 141268- IBBAA21 

155 31 Morn 29 Mor to Y48A40- 582X02 
728 1 Mav 79 HF(b89 YCS.to- SS1®1 

15T: 1 Mor 82 20 Feb 97 V7TOH- 819684 
115 K Jun 13 17 Feb H Y884- 951*22 
257 22 Jun 70 30Aua«3 Y 82550- *HM» 

D l No. 80 21 Mar 95 9 30*70- 45051* 

72 1 Crct Bl 21 Mar •* Y4|7.M- 53*497 

97 I Jul 77 T9 Feb 92 Y 88*10 - 741087 

19 18 Jan 12 VS Mor 97 Y :rm - 257S6R 

221 I Oct 77 15 5es 9J Y 39*10- 37708 

75 8 Seal! 25 Mor 96 Y 329 - 249XU 

151 30 Jim 75 malurttv Y 3*8X0- 3*2.Z» 

« K Ocl 83 II Aar 98 Y*G - 73*430 

108ft 12 Sea M 19Asr99 Y 614-44*019 

111 I Apr 41 15 Feb to YAW- 74*877 

1 Feb (Si 19 Dec 97 Y73SXS- B8*XB 
29 Aug 54 19 Auc 79 Y 1088 - 1130X08 
I Jill 76 DO Jan 91 Y40U0- 519X11 
I Jill Bl 30 JOn 94 YA990- 789®| 
88ri 10 Jvile 78 Jon 99 Y 1147 - 1257*80 
415 20 Nov 75 It NOV 90 Y 409 - 34*287 

101ft 2DNOVI0 3 Nov 94 7 590 711414 

93 I7MOVB3 2D5ento Y 6*7 - 714 191 
117 4 Nov B 20 Mcr 95 r eaw . 4|*R| 

1 Oct 81 22 Mor 96 YB26R- 912J07 
183 1 MOV 74 maturity Y 3500- 397.187 

1(4 1 Aug 77 30 Mar 92 Y JBtR . 371897 

in 1500 79 maturity Y 451X0 - 51*220 
187ft 4JonS7 70 Marts 

101 I Jun S3 30 Mar to 

1BI 4 Jan Be 24 Mar 99 

171 1 Oct 77 29 SCO 93 Y42IR- R1XR 

117 IS Jan Bl H Mart* YeM-slUei 
IU 29 Jul 8 1 I964ar<* Y13710- 1579.142 
»Uri 7IFrtlB4 It Mir 99 Y 2351X0- 2549*74 
It? 16 JulA4 I ’Mor 00 Y 73to - 2*19 XU 
7 janOS J4 Mir R Y 1295 - 1325*71 
15 JOT 81 25 Mar 96 Y 327 - 387X8* 

5 Feb U a Mar 97 V <94X0 ■ 780X54 
15 Ocl 84 23 50)99 Y 1441 - 15IIXM 


119ft 

93 

7S3 

137 


Y 328 - 38*109 
Y29B- 424XBI 
Y 153 - 274X89 


98ri 
71 
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109 

IJullT 2BI4arH Y10. ;i*Ase 
Bri: II Apr 83 28 Mar to Y 9*4 . lmnv 

Dri 20 Mar Be 17 Mor TO Y 1QB2 - 114S919 
177 I Dec 77 14 Ocf 94 Y319A0- 3*1051 

181 19 Nov #4 200099 Y436 - *4’ 037 

92ft 5 Apr S3 24 Mar to Y 63*40 ■ 615027 

S3 17 Del ■ 22 Mar TO Y 3*1.10 414X47 

3H 1 500 77 29 Sep 92 YA770- 153X89 

ra 1 jul 79 77 Smite rns- Kun 

350011 2354PTO 


lri Okl Elective 
9R Otyrnnus opilcnl Ca 
SU Ona PbarmanuTical 
SU Driew Finance Co 
550 Orient Leaving Cb 
SIS RKttaCaLM 
SU RnriCaLta 
9 25 Sonkyo Electric Co 
ISO iertro Electric Co 
SR SecomCaud 
SH SacomCaUd 
SJB SeUui House Ltd 
550 5WMfg _ 

STB Sumtlomaixrp 
ISO Sutninm Electr c 
sio sumtnmaMftoUmiuHA TO Mor 
550 Suirhama Metal ladutl 7 75 5ro 
150 5umHomo Mutol Irduet Ift TO Sea 
SR TakedaRlkenColio IftTOMar 
SHO TohraSanve Electric r: TO Nov 
Shi TdryuCarp _ " 

S43 Tukuv Land Carp 


JriTOSap 
Aft 97 Od 
3ft to net 
ift 77 Mor 
S* . TO See 
Aft 7t Sea 
Aft 7S Sea 
Bft *94 Mar 
5 TONgv 
5 TO Nov 
3ft TO NOV 
3 79 Jon 
31:70 Feb 
IliTOMnr 
Si:tJMar 


7ft 75 Sep 
7ft TO Mor 


hi 
9in 
nift 
1D3 

94ft 

118ft 21 Jun 13 n Scoto V28U-H31.lto 
34* I Dec 74 29 540 91 Y 31990- 774X72 

1M 31 Jul » 29 SCO 95 150*40- 570411 

182 I Apr M 20 Mor 95 r 577 JO- *l***6 
84ft 1 Mil S Nov 94 Y 597.70 - 45199* 

144 30Ma»l3 20 Nov to 

9!ri lOdlwn NoyTO 

BS’< 4 Jon 84 RJmiN 

01 li Dec 8e 7! FebH 
97 I7MOYU HMBTW 
150 1 1 Mar R n Mar 97 YSTiJB- AI0W 

119 1 N0V 74 XMar 92 Y 1390- 121996 

82 2 Feb 81 20 Sap *5 Y 175X0- 306342 

jp* i Octal MSeoto Y29*a- ttijh 
W. 250014 20MarK Y7U3 * 7879X93 
9* 3 Dec B4 19 Nov 99 YTTJ- 71808 

l Dec 80 22 Sep 94 


tDatSl 2400*7 YII57A0- 1138X47 
I5MOTI4 70 Nov 91 Y 583148- *237X33 
Morn 25 Mar 97 Y977X0- 1058X53 


Y 3920 - 3I984S2 
7 5R4 - 5233X15 
Y6I1 - 475584 

Y 2697 - 2841*43 

VW-A7UPJ 


130 ToSilba Ceramics Cb 3^74Sm> 


SH TcnOtaaCurp 
19 Tavb Mental KnWta 
SH Wocdoi C ora 
SB YotngiCiii Serorilles 
SB Yamonoudil Phcrmo 

5# BewvaUeYiimAl *3 
S1U Elders Nv 355)8 
s» NiiOwmeosine® 


Tftwsep 
7ft 76 Mor 

4 79 Aua 

5 TO Sep 
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IW: 
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193 • 
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133 


IAm-11 JoMurW YK*0- 34X838 
3 Sen It 30 58094 V ISC - 171*631 
1 No* 79 7950794 Y 18*90- 2HMB2 
I CtacR SI MUT TO YI9J- 231110 


1 US TO h.1 

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538 Rand Setea nn 17158 A'.iBtMar 


UDCIS4 34AUC99 Y»1 - B30671 

J AvoD 33S9P98 Y4a.T0- 45WX 
175ft 31 Oct S3 71 Dec 90 r 1572X0- 144863) 

MISCELLANEOUS 

4 TO Dee iMri 15 act 1 1 ipahritv ulZXnSotSBeM 
185ft 2S5 cbB 4 7 Jul 94 aiS 1187 am 2M i 
ra 1 : I nov Be 24 JuJ 94 ms 1800 nrt 1X41 

177 1 Sep 71 31 Jan 84 rnaS67SS02JV 


U3- 0 
10 .11 
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«U» 57 

1.78- 143 
364- .97 
2154 1X4 
1A9 M 
1X9. .70 

M JV 
118 0 
1X9 M 
10X8 1X4 
1*92 1.94 
U4- Z4S 
1161 XI 
112- 1XA 
ZLU 131 
14*. 10 
UO- 10 
166- 10 
77*1 U3 
NR 0 
10 1.73 

141- 1.11 
147- 1.11 

ioa i.ri 

:&■ m 

14.7} 10 
10 1.14 
40- 1X5 
17.92 10 
4X8- 10 
*24- 10 
265- I® 
10 147 
SX9 10 
7.11 1.95 
UA 141 
3.0- 141 
4X8- 0 
41 0 

10 XI 
7X3 41 
280 *31 
104 41 
3028 0 
27.14 40 
470 49 

929 A* 
144- LIB 
*77 ill 
554 1® 
011 2X1 
161- 0 
10- 0 
298 0 
440 1® 
HUM .73 
153 1X1 
2JI- .15 
120 18 
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ixs- n 
197- I® 
21X1 L29 
17V 45 
HUB 45 
30 1® 
Uf 0 
161 169 
Z71- 64 
20 3JI 
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2.17 10 
TJS2- 142 
1*44 161 
10- 44 
148 174 

5.12- 121 

196 1® 
151- .H 
5X7 0 


9041 10 
765- *15 
1.97 *60 
*10- 7X1 


Mid. 

ft Mat Price —Cony. Period — 

UNITED STATES AMERICA 


Cdrr 
Cenv-Ykh 
Price a/ ib— PmuBift 


S15 Addrotaagraph 120 
SR Aioa.0 Intenn 42 a 3 
SB American C«eil7.R 


-88 MOV 
Bft TO Dec 
Aft TO MOV 


S * TO Apt 
:S 5® SL-RAug 
19.14 5 87 Sep 

Inti Fin 4124 friTOJun 
l InU Lu3*13 5 TO Jun 

Barnett 0/« Fin 2*2< r* TO Aug 
; Foodi 57.14 7ft TO Nov 
*3X2 6ft PI Aug 
35X1 4 , :TOSep 
UTO mTOAufl 
Btacker Energy 4SX1 Ift 95 Jul 
Broadway-Hale 2*10 4ft TO Jun 
Carrier Ori 34.4a I WDee 

Cdc Control Dot 1*£5 5 TO Apr 

IH Charier mil Fi 2*51 BftTOOd 
SH Chevron O/t Fin 4*37 J TO FA 
SU Chrvita 0/iltl3 5 TO Feb 
SAO ChmJer Oil llAI 4ft TO Mov 
111* Carman id 1 20 e* tvtoOu 
S 25 CanllTeMnfl 42.18 5V: TO Mar 

130 Crulctier F mane 39R 8ft V5 Dec 
515 Cummins In) FInlIXS Aft TO Ocl 
520 Cummins im Fin 2743 5 88 Aug 
SB Daman Carp IXX5 5ft W Dec 
dm 718 DeulKtw TaaCb ITO $ SAMai 
1 8 Dictaphone Vnll 1*19 Hi TO Mor 
*18 DKncon Ffeiance J3.90 IriTOOct 
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On convertibles bavins a conversion premium 
of less man 10%. 


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Explanation of Symbols 


CMS 

ECU 

EUA 

L 

DM 


Jurggqgn Currency Unit 
Eurtotein unit TO Account 
Pound Sfert Ira 
DumoMbA 
Horwpgltei Kroner - DM 


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Y Yap 

lfr Lunmnourg Prone 
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INTERNATIONAL HERALD TRIBUNE, MONDAY, JANUARY 21, 1985 


Page 11 


Issuer 

Amount 

(miUions) 

Mat. 

Coup. 

% 

Price 

Yield 

at 

offer 

Price 

end 

week 

Terms 

BOATING RATE NOTES 

Cois&e Certrole de 

Cooptation 

Eoonomique 

$200 

2005 

K 

100 

— 

99.55 

Oust 3-month Liman. Minxiwi coupon 5VML 
Cdtable at pot on enr inrarao pcymK dam after 
1986. fan 

Dai-fcW Kangyo Bank 

$30 

1988 

1/16 

100 

— 

— 

Over 6-month Singapore offered rtOe for first 2 
yean, and ft aver thereafter. Redeemable re por in 
1987. Floating rata certificaies of deposit 

First Chicago 

$200 

1997 

3/16 

100 

— 

99.80 

Over 3-month Li hot. Minimum coupon 5V4%. GdL 
able re par iin 1989. few OJOK. 

Ireland 

$300 

1997 

ft 

100 

— 

9976 

Over 6-reonffi LAor. Minanum coupon 5K%. Cat 
able re pv in 1986- F»« 024%. 

Korea Development 
Bank 

$100 

2000 

ft 

100 


98.25 

Over iensh Libor. Mrimum coupon SW. Dat- 
able o( par m 1987. GxnertMe in 1967 Mo a 3-yr 
note paying ft over Libor, itself convertible bade 
into origmal note in 1988. Fees UHL Denemino- 
nons $10400. 

WeBs Fargo 

5150 

1997 

ft 

100 

— 

99.60 

Over Smooth Libor. Miiemun coupon 50%. Cat 
able re par in 1980- Fees 0.45%. Denreninreum 
$50,000. 

rxhi-goufon 

BP Finance 

$150 

1992 

lift 

100 

lift 

98.38 

Caflofate at 100ft in 1991. 

CJtoh 

$100 

1992 

10ft 

100 

10ft 

9875 

Ncnafcfcle. 

Ericsson 

$100 

1988 

10ft 

100ft 

10.33 

993 ) 

NonaJabie. 

Mitsubishi 

$200 

1995 

10ft 

100 

10ft 

9875 

NoncaKre>lcL 

Mitsubishi 

$100 

1992 

10ft 

100 

10ft 

98.63 

Noncaloble. 

Postipankki 

$75 

1990 

lift 

100 

lift 

983) 

NontnBnble. 

Soofetfe Nationale Etf- 
Aquitaine 

$100 

1989 

10% 

100 

10% 

98.13 

NoncoBabkL Payable March 15. 

Sumitomo Finance 
Asia 

$150 

1992 

lift 

100 

lift 

98.38 

NoncaSable. Denominations $10,000. Payable 
Mredi 15. 

TBG Finance 

$50 

1990 

10ft 

100 

10ft 

98.38 

Capable at 101 ft m 1988. Backed by surety bond of 
Arena life. Gureanteed by Thyssen Barnemiaa. 

Yomakhi Inti 

$100 

1991 

lift 

100 

lift 

98.13 


Austria 

DM300 

1992 

7 

100 

7 

— 

NonasBoblft 

Genbel Finance 

DM 100 

1991 

8 

99ft 

8.11 

98 

Noncoflable. 

ITT 

Dm 100 

1990 

7 

100 

7 

99.50 

Nonctfluble private placement. 

MEPCfntT 

DM 100 

1992 

7ft 

99ft 

73) 

— 

first arflafafe re 101ft in 199a 

Public Power Corp. 

DM150 

1993 

7ft 

99ft 

779 

9825 

first adfabie re 101ft in 199a 

Thyssen Caribbean 
Finance 

DM150 

1993 

7ft 

100 

7ft 

99 

first cdtable at 101 in 199a Private placement. 

Banco NozionaJe 
deU’Agricohura 

ECU 50 

1992 

10 

open 

— 

99.25 

CaUofaie re 100ft in 1992. Price to be sre Jan. 22 

KB-Jfimo 

ECU 75 

1992 

9ft 

100 

9ft 

98.63 

NancaMtie. 

Mitsui Overseas 
Luxembourg Int'l 

ECU 50 

1990 

9% 

100 

9ft 

— 

GolaUe at 100ft m 1988. 

Avon Copitd 

Y 26,000 

1991 

6ft 

100 

6ft 

97.63 

NoncaSable. 

Eurofima 

Y 10,000 

1992 

6ft 

100 

6ft 

9825 

first caflabie at 100ft in 1989. 

Intel 

Y 1^500 

1992 

6ft 

— 

— 

— 


McDonalds 

Y 25,000 

1992 

6ft 

100 

6ft 

9775 

Nanadfefcie. 

Gazde France 

C$75 

1995 

lift 

100ft 

1171 

98.50 

first calotte at 101 in 1991 Eads (31 .000 note with 
one 22-mxtfh warant exerasabie d par m» some 
band. Warrants sold for $14 each. 

IC Industries 

C$50 

1995 

12ft 

10 Oft 

1204 

98.25 

rtonaacoto. 

Vancouver 

C$40 

1995 

lift 

100 

lift 

99.50 

Mi mi ■ 

EQUHY-UNKED 

Osaka Transformer 

$20 

1990 

8ft 

100 

3ft 

99 

Nbnodkbte. Eodi $5,000 note with one warrant 
eeeroeafale into company's shores at 513 yen a 
riwe (no premium] Exchange rate set at 254.95 
yen per dollar. 

Tokyu 

$40 

1990 

814 

100 

8% 

98 ' 

Noncoflable. Eads $5,000 note wirh one vwxrant 
mcerdsable into company's ibexes at 326 yen a 
share, a lft% premium. Exchange rote set re 25Sl90 
yen per dollar. 

Yamato Kogyo 

$30 

1990 

8ft 

100 

8ft 

98 

Nonccfcble. Each $5/100 note witH one wsxtoiK 
exerriadde in*o company's shares re 6?9 yen a 
share, a 1.48% premium. Exdxmge rate ite at 
255.90 yen par dollar. 

Kobe Steel 

DM200 

1990 

3ft 

100 

3ft 


Noncctoble. Eads 5,000maric note vnth one war- 
rotf exerasdsle into an equal renount of compa- 
ny's shores re an anticipated 2ft% premium. Terms 
to be set Jan. 21 


FRNs Offered New U.S. Group to Lobby for IMF, World Bank 

By Ireland, 

South Korea 


New Sales Erode Eurobond Backlog 


(Continued from Page 9) 
securities abroad in the parent in- 
stitution's name and thus do not 
qualify to dip through the loophole 
(and reportedly are making quite a 
stink about it at home). As a result, 
Yantai chi International sold $100 
minion of 6%-year notes bearing a 
coupon of 11% percent while Sumi- 
tomo finance Asia paid 11% per- 
cent to sdl $150 million in seven- 
year notes. 

The floating-rate sector got a jolt 
last week when two French bor- 
rowers announced plans to call out- 
standing issues which were paying 
margins that look overly generous 
in today’s market The French were 
not the first to act Sweden called 
its jumbo issue late last year and 
Ireland’s new issue has beat used 
to replace an issue that it is calling, 
but market participants had ex- 
pected that banks would not fed 
the same ] pti«uA» as sovereign bor- 
rowers in disappointing investors 
by prepaying 

faiafi CentraJe de Cooperation 

Econouti que is calling its $100 mil- 
lion of 20-year FRNs issued in 
1982 on which interest was set at %- 

point aver the average of the bid- 
asked London interbank rate, so- 
called I-imean. in its place, CCCE 
is offering $200 nrilKnn of 20-year 
notes bearing interest at ft-paint 
over Limcan. The notes are callable 
after the first year at par. 

The cost of money, including 
front-end commissions of 0.575 
percent, is equivalent, on a dis- 


counted basis, to 0.13 percent over 
the London interbank offered rate 
— the lowest cost yet achieved by 
any French borrower in the FRN 
market, managers assert 

At the same rime. Banque Na- 
tionals de Paris announced it is 
calling $125 million of notes issued 
in 1979 and maturing in 1991. ll 
had been paying ft-point over Li- 

mean. 

In the Deutsche mark sector, 
bankers have scheduled 243 billion 
DM of new issues through Feb. 13. 
While the dumber of issues, nine, is 
smaller than die 12 offered in the 
month just aided, the volume is 
bigger than the 205 billion DM. 
Given the renewed strength of the 
dollar and continued fears that the 
Bundesbank will be driven to raise 
interest rates to pro tea the curren- 
cy, marketing the new issues may 
be difficult 

The first issue got off to a slow 
start thanks to the very tight toms 
put on Austria's 300 million DM of 
seven-year paper — a coupon of 7 
percent Tins compares with yields 
of just over 7 percent available in 
the domestic market 

The most promising aspect of the 
new calendar is the predominance 
of top-rated issuers — the World 
Bank, Sweden, the European In- 
vestment Bank, Spun and the 
province of Quebec. The National 
Bank of Hungary and the South 
African Local Authorities Loans 
Fluid will have less general appeal. 


In the Canadian dollar sector, 
Vancouver and Gazde France both 
offered 10-year bonds with cou- 
pons of 11% percent GdF, which is 
using the funds to swap into float- 
ing rate dollars, was forced to price 
its 7 5- milli on dollar issue at a pre- 
mium of 100ft as it needed a lower 
yield on the fixed-rate portion to 
compensate for a rapidly improv- 
ing dollar market just as the trans- 
action was being closed. 

GdF also sold for 514 each war- 
rants to buy at par additional 
1,000-dolIar slices of the bond. The 
warrants expire Nov. 9, 1986 — a 
date that coincides with its ability 
to call, at a price of 101, its 15- 
percent Canadian dollar issue ma- 
turing in 1989. GdF said that hold- 
ers can use this paper in lieu of cash 
to exercise the warrant. As GdF 
will value the redeemed paper at 
101 percent of face value, investors 
using this option will be entitled to 
a cash refund. 

The Euroyen bonds by Intel 
Avon, McDonalds and Eurofima 
— all motivated to raise low-cosi 
yen which is to be swapped into 
low-cost dollars — failed to attract 
support Bankers complain there 
have been too many issues, and not 
well placed. In the equity market. 
Japanese borrowers are raising 
low-cost dollar bonds which they 
are using to swap into very low-cosi 
fixed-rate yen. But bankers com- 
plain tbe latest issuers are unexcit- 
ing companies whose stock war- 
rants are not much sought after. 


By Carl Gcwirtz 

International Herald Tribune 

PARIS — Ireland and South Ko- 
rea launched floating-rate notes 
last week — as will Greece this 
week — setting what many bankers 
believe will be the tone for the year, 
of major debtors shunning the syn- 
dicated-loan market. 

This is a continuation of a trend 
that became apparent last year, and 
that suits lenders and borrowers. 
Banks want to do business that 

SYNDICATED LOANS 

does not show up on their balance 
sheets, or if it does to at least show 
up as a marketable asset. And tbe 
borrowers will jump at any alterna- 
tive that offers a lower cost of mon- 
ey. 

Whether t he Form and terms of 
this new business is always appro- 
priate remains uncertain. A $500- 
raiUion, seven-year transaction for 
Turkey, for example, has raised a 
stir with many bankers, who argue 
that the borrower is not ready to 
graduate from the syndicated-loan 
market and should be paying more 
for its money. 

As it is, seven banks have com- 
mitted $30 million each and are 
now seeking commitments of $20 
million to 530 million from other 
banks to provide a revolving cnediL 

Turkey will then ask banks to 
offer terms on the cost of short- 
term advances. A bank bidding a 
ft-point margin over the London 
interbank offered rate is assured of 
having its offer accepted. If there 
are no bids, or not enough, Turkey 
can draw on the revolving credit at 
a cost of % point over Libor. 

Banks in the syndicate will re- 
ceive an annual %-percenl commis- 
sion for providing the facility plus a 
one-time front-end fee of 1 percent. 
The amount available to be drawn 
from the facility will decline by 
5125 minion a year, starting in the 
fourth year. 

Something similar is expected to 
be used by Portugal bankers re- 
port. when it comes to tbe market 
for $500 million this week or next 

This week. Greece is expected to 
tap the FRN market for a seven- 
year loan of up to 5250 milbon. 
This will be followed by a classic 
syndicated credit later in the first 
quarter of some 5300 million. 

Last year, Greece arranged an 
FRN as part of a hank-loan pack- 
age. and this year’s separation of 
the two arrangements is seen as 
moving Greece closer to using the 
securities market for future busi- 
ness. 

South Korea appears to be using 
the same strategy. Korea Develop- 
ment Bank is currently raising 5100 
million, increased from the $75 mil- 
lion that was initially announced. It 
is offering 15-year FRNs that piy 
ft-point over Libor. 

Holders have the option of 
switching to three-year notes, on 
which interest will be set at ft-poini 
over Libor. This is expected to be 
followed by a classic syndics led - 
bank credit for Korea Exchange 
Bank. 

A Reuters report from Seoul last 
week quoted Finance Minister Kim 
Mahn-Je as saving that South Ko- 
rea’s foreign debt is projected to 
rise to $45. 1 billion by the end of 
1985 from $43. 1 billion at the end 
of 1984. 

He said that South Korea will 
seek $5.8 billion of foreign funding 
this year, against $62 billion last 
year. He added that the nation's 
foreign exchange holdings will rise 
to $7.7 billion in 1985 from $7.6 
billion last year. 

Reuters reported from Bangkok 
that the Thai Finance Ministry has 
mandated a group of Japanese 
banks to lead manage a $ 146.92- 
million syndicated loan to refi- 
nance four more expensive out- 
standing loans. 

Reuters quoted ministry sources 
as saying that the dollar-denomi- 
nated loan will initially be a one- 
year revolving credit carrying an- 
nual interest at 0.0625 parentage 
point below Libor. It subsequently 
will be converted to an eight-year 
yen loan with interest at 0.1 per- 
centage point above the long-term 
prime rate of Japanese banks. 

Also using the classic syndicated 
credit is Papua New Guinea, which 
is seeking $45 million for 10 years. 
Interest on the loan is set at 0.625 
percentage point over Libor for the 
first five years and 0.6875 point 
ova thereafter. Lenders will be 
paid a commitment fee of 0.1875 
percent on any undrawn portion of 
the loan. 

Air India and Indian Airlines are 
both soon expected to tap the mar- 
ket to raise money to finance their 
re-equipment progr ams. 


Unued Press International 

WASHINGTON — A group be- 
ing formed in Washington this 
week will work to counter what it 
sees as an erosion of support in the 
United States for the International 
Monetary Fund and the World 
Bank. 

Tbe Bret ton Woods Committee, 
which holds its organizational 
meeting Tuesday, plans to spend 
tbe next two years idling the ILS. 
Congress, public, business and la- 
bor that they have a direct interest 
in backing these institutions. 

Forma presidents Gerald R. 
Ford and Jimmy Carta are the 
group’s honorary co-chairmen. Its 


organizers include Henry H. 
Fowler, secretary of the Treasury 
unda Lyndon B. Johnson, and 
Charts E. Walker, deputy secretary 
of the Treasury under Richard M. 
Nixon. 

The membership consists of 
about 130 private citizens, includ- 
ing businessmen, labor leaders and 
former government officials. The 

committee has a budget of 
$150,000 to $200,000 for the first 
year. 

Bretioo Woods, New Hamp- 
shire, was the ate of the 1944 con- 
ference that set up tbe World Bank 
and IMF. Tbe United Stales has 
been their biggest, financial backer. 


and all U.S. presidents since their 
inception have supported them. 

The hank makes long-term de- 
velopment loans ip developing na- 
tions. Tbe IMF gives short-term 
balance-of-payments aid and has 
been the center of recent efforts to 
deal with tbe international debt cri- 
sis. Both play an additional role of 
advising or requiring nations they 
aid to undertake economic policy 
reforms. 

The group is concerned that con- 
gressional support for these institu- 
tions has diminished in recent 
years. 

In August 1983, $8.4 billion in 
U.S. financing for the IMF passed 


the House by a 217-21 1 vote. Con- 
servative groups ran television ads 
against the IMF in 20 states. 

In an intadependent world, the 
Brelton Woods group argues, the 
United States has a direct stake in 
global development. 

Economists estimate that 
350,000 or more American jobs 
were lost as a result of declining 
exports to developing nations be- 
tween 1983 and 1981. because of 
those nations' foreign debt, the 
world recession and the strength 
the dollar. 


Alter Gloom, New Optimism in U.S. 


(Continued from Page 9) 

1.6 percent in the third quarta, 
from 7.1 percent in the second 
quarter. 

“There was concern, an uneasi- 
ness starting last summer." said 
Robert Ortna, chief economist at 
the Commerce Department. “Con- 
sumer spending stalled, interest 
rates were up, firms seemed to have 
loo much inventory. There were 
quite a few people calling a turn in 
the economy. Those fears seem to 
be evaporating now." 

Interest rates turned out to have 
reached their highs for the year, 
and as the fourth quarta bega n , 
consumers began shopping again 
— not so modi that they could 
produce a boom in Christmas sales. 


but enough apparently to begin re- 
viving the economy’s growth. 

In the fourth quarta. the Com- 
merce Department estimated, the 
economy grew at a rate of 2.8 per- 
cent. 

What started tbe rebound and 
fuels it now, many economists say, 
is the Fed. For more than five 
years, the Fed’s principal objective 
had been to reduce inflation rates 
by tightening growth of the money 
supply, making credit scarcer and 
holding up interest rates. 

But for three consecutive years, 
inflation has held well below 5 per- 
cent, and in a speech last week Paul 
A. Volcka, chairman of the Fed, 
said be was tv-ginning to see a trend 
toward more stable prices. 

The Fed is concerned that the 
most immediate threat now of 


higher inflation lies not in the do- 
mestic economy, but in the dollar. 

A falling dollar. Fed economists 
assume, can only result in rising 
prices for imported goods and thus 
in the inflation rate. To avert a 
collapse of the dollar, economists 
say, the Fed is trying to orchestrate 
a controlled decline, of 4 or 5 per- 
ceni of the value of the dollar this 
year, and to do so it has had to let 
interest rates dip. 

Economists are equally encour- 
aged by tbe performance of oil 
prices. Late last year, some produc- 
ing countries began breaking r anks 
with the Organization of Petroleum 
Exporting Countries and spot-mar- 
ket prices started slipping well be- 
low the 529 -a-baiTcl benchmark 
price. Those prices have now 
dropped to the $26 level. 


IBM, Mexico 
To Keep Talking 

Reuters 

ARMONK. New York — In- 
ternational Business Machines 
Corp. and Mexico will continue 
talks on marketing microcom- 
puters in Mexico. IBM said, af- 
ter the Mexican government re- 
jected the company’s proposal 
to make microcomputers in the 
western state of Jalisco. 

In a statement issued Friday, 
IBM said that it would continue 
to manufacture the System 36 
and other products in its plant, 
which is in the Jalisco town of 
E Salto. 

Mexico rejected Thursday 
the proposal “on the terms pro- 
posed by the business since 
businesses already exist that 
currently manufacture the mi- 
crocomputers with a majority 
of national capital. “ 


S. Africa’s Gold Mines 
Report Higher Profits 


Reuters 

JOHANNESBURG — Quarter- 
ly results reported by South Afri- 
can gold-mining companies woe 
mostly in line with expectations 
and gold analysts predicted Sunday chip 

that profits could be up a further 20 they 


Ltd, which has a stated policy of 
not selling short, benefited most 
from higher rand receipts, the re- 
sult of the weakness of the rand, 
analysts added Many of the blue- 
chip mines also prefer not to hedge, 
said 


percent in the coming quarta. The rand has fallen from a high 
Most of the gold-mining compa- of 85 cents in 1984 to a low of 41 .9- 
nies reported a rise in taxed profits 42 cents Friday, in New York, the 
in the quarter ended Dec. 31. 1984, rand was at 43.8 cents in late trad- 


raainly reflecting record prices in 
South African rand received for 
gold 

The average price rose as high as 
19,400 rand per kilogram (52862 
per pound X which allowed compa- 
nies to make higher profits despite 
the shorter milting quarta of 87 
days against 91 in the third quarter. 
Tons milled dropped at most 
mines. 

Based on Friday’s rand price for 
gold analysts said they believed 
the coming quarter’s receipts could 
be as high as 23,000 rand pa kilo- 
gram. increasing profits by as much 
as 20 percent 

They noted that the profits re- 
ported by the gold-mining compa- 
nies depended on whetha tbev had 
policies of foreign-exchange hedg- 
ing and selling short 

Gold Fields of South Africa 


ing Friday. 

Another feature of the latest 
quarterly results, analysts said was 
the rise in tax payments, mainly the 
result of higher earnings and gener- 
ally Iowa capital expenditure. 


ADVERTISEMENT 


MARUBENI CORPORATION 

(CDR.) 

The uadeisigiied unnounrrt ihai aa from 
24th January. 1985 al Kas-Assoiulir- 
N.V.. Spuistraal 172. AmsJrrdam. div. cpo. 
no. 22 (accompanied bv an ".MTidaul"'} of 
ihe CD Re Marubeni Corporation, each 
repr. 1 ,000 *h*re» will W pavabli* with 
Dll*. 27.42 act per CDR, repr. 
1,000 aha. (div. per nvonMaie 30.9. l&l; 

E Yhi 25,- P- fih-1 after deduction of I5*t 
tax — Yen 375.- =■ Dfl*. 5,27 per 
repr. 1.000 dte- Without an Affidavit 
20% jap. tax = Yen SIX).- — DIh. 7.03 per 
CDR, repr. 1.000 ehs.. wiU be deducted. Aim 
30.41985 the div. will only be paid under 
deduction of 20% Jap. tax with DfU. 25.66 net 
per CDR repr. 1.000 shs. each, in accordance 
with the Japanese tax repukliooa. 

AMSTERDAM DEPOSITARY 
COMPANY N.V. 

Amsterdam, 10th January. 1C65. 


ADVERTISEMENT 


RICOH COMPANY LTD. 

. (CDRa) 

The lunJmigDed aiuxuuvvb that ** (ran 
Mih January, 1985 ai kK-CMrutie 
N.V., Spuulraai 172 Amsterdam, drr. cpo. 
no. 30 (accompanied bv an ".Mlidaul ) of 
lb* Ricoh Company Ltd. mil hr payable 
with DUa. 5.68 net per CDR, repr. 
100 aha. and with DfU. 56JtO net per 
CDR, repr. 1,000 aha. (div. per record- 
dale 30.0.1984 nrosfc Yen 5.- p- Jl) alter 
deduction of 15“«Jipaiie>e tax = Yen 75.- ™ 
Dfla. 1,05 per CDR. repr. 100 shs.. Yen 750.- 
= DfU I0J50 per CDR. repr. 1.000 shs., 
Without an Affidavit 20% Jan. lax » 
Yen 100.- - DfU 1.40 per CDR. repr . 
JDOih*.. Yen UWOl- = Dfk 14.- per CDR, 
repr. UX»sU_ will be deducted Alter 
30.4)985 the div. will only be paid under 
deduction of 20% Jap. tax rrtp. DfU S33; 
DfU 5230 nei per CDR repr. two. 100 and 
1.000 aiv. each, in accordance with the Japa- 
nese tax regulations. 

AMSTERDAM DEPOSITARY 
COMPANY N.V. 
Amsterdam. 10th January. 1985. 


U.S. Air Force 
Awards Contracts 
For $96.8 Million 

New Tori Times Service 

WASHINGTON — Two of the 
largest military contractors in the 
United Slates have won air-force 
work worth nearly $ 100 million in a 
program to build mobile launchers 
for the next generation of strategic 
nuclear missiles. 

The Boeing Aerospace Co. of Se- 
attle on Friday received a $49.9- 
million contract and the Martin 
Marietta Corp.'s Denver plant a 
$46.9-millioxj contract to continue 
development of a blast-resistant 
truck for launching tbe air force’s 
single- warhead intercontinental 
ballistic missile, informally called 
Midgetman. 

The missile is to be the successor 
early in tbe next decade to' tbe 
much larger. 10- warhead MX mis- 
sile, whose initial production was 
authorized by Congress in 1983 af- 
ter bitter debate. 

The General Dynamics Corp. 
and Bell Aerospace Textron had 
also competed for development 
work on the launcher, but were 
eliminated by Friday’s selections. 


Pan Am to Add Paris Flights 

Reuters 

NEW YORK — Pan American 
World Airways Inc. said Friday 
that beginning May 30 it would 
add second one-stop daily flights to 
Paris from San Francisco and from 
Los Angeles. 


U.S. Rates Hold Steady Amid Uncertainty on Trend 


■ By Michael Quint 

New York Tunes Service 

NEW YORK — US. interest 
rates were tittle changed in quiet 
trading Friday. Analysts said the 
lack of activity by both investors 

U.S. CRt^fT MARKETS 

and speculators was one sign of the 
widespread nncaiainty ova tbe di- 
rection of rates. 

“There is evidence to support 
forecasts for higher rates/and there 
is evidence for Iowa rats," aid 
Allan R. Leslie, vice presdent at 
Discount Corp., a govenunent-sc- 
corities dealer. "But neither side 
has enough evidence to act with 
conviction.” 

Economic data far December, 
including ihe OJ-percent rise in 
personal income ^nnmmrwf Fri- 


day, confirmed expectations of 
many investors that the growth in 
gross national product during the 
fourth quarta will be stronger than 
the 18-percenl inflation-adjusted 
growth rate estimated by the Com- 
merce Department last month. 

gif-har d Rahn, chief economist 
at the U.S. Chamber of Commerce, 
estimated that fourth-quarter 


U.S. Consumer Rates 

far Wm fc Ended Jem. 18 

Passbook Sawings. 

™5J0 

Tax Exempt Bands 

Band Buyer 3D- Bona Index 

_ 9.51 % 

Money Market Funds 
DonoBteie* 7-Day Average- 

_ 8JM % 

Breik Menev Market Accwnft 
Bank Rate Mannar index 

_ flJZO * 

Home Mortaaoe 

FHLB average 

_13£2« 


growth could be reported this week 
at 3 J percent 

Among bellwether Treasury is- 
sues, the two-year notes scheduled 
for sale Wednesday woe offered at 
a yield of 9.9 percent down from 
9.93 percent while the 1 1 34-percent 
bonds due in 2014 were offered at 
101%. down ft point, to yield 11.52 
percent Treasury bill rates were 
tittle changed. 

Indications since November of a 
stronger economy and Easier 
growth in money supply have per- 
suaded many analysis that ihe Fed- 
eral Reserve is noi likely io encour- 
age further declines in interest 
rales. 

Others said the Fed might nudge 
rates a bit lower to assure that the 
economy rebounds from the slow- 
down in the second half of 1984. 
and to prevent further increases in 


the value of the dollar in foreign 
exchange markets. 

The announcement Thursday 
that the United States is prepared 
to intervene more frequently in for- 
eign exchange markets had no dis- 
cernible effect on trading in (he 
credit markets. 

A desire to encourage a drop in 
ihe value of the dollar has often 
been died by Fed officials and oth- 
er economists as one reason why 
Iowa interest rates were desirable. 

Analysis ai Money Market Ser- 
vices, an economic analysis firm in 
Belmont California, said that if the 
new intervention policy helps bring 
about a gradual decline in the value 
of tbe dollar, it "means that Fed 
policy will not remain hostage to 
international developments." 

Fed officials can then focus on 
such domestic concerns as exces- 
sive monetary growth, they added. 


Consolidated Trading 
Of AMEX Listing 

Week ended Jon. T8 


wanflB 

TIE 

CmoCn 

BAT 

TexAU- 

imoGo 


Sates HMi Low Last CUT* 
vxmc xmsi +J* 

M & ifi im +% 

& 10* 4* 
7* 


1388 


Dote Pd 1.J3A1W 17%. 

WDieiil 771 ,300 lift 

MolSc 7ll.no 

AM 171400 »• 

Volume: 51 JWAOO snores 
Year to Dele: 101840000 shores 
Issues Traded In: 914 
Advances: 599 ; declines.' SB 
Unchanged: 120 
New Highs: 109 : new lows: H 


9% UR* 
5W2V, 
♦ft 

S 17T4 
111* 
T* 13*. 
3ft 3*fc 


+» 

+V% 

+3** 


UNITED STATES BANKRUPTCY COURT 
FOR THE SOUTHERN DISTRICT OF NEW YORK 

la re: 

DEAR & CO., INC, 
d/hfe DEAK-PERERA PUERTO RICO. 
tfk/aTHE PERERA CORPORATION, 
f/k/a PERERA COMPANY'. INC. 

DEAK-PERERA INTERNATIONAL BANKING 
CORPORATION, f/k/a PERERA 
INTERNATIONAL BANKING CORPORATION 
COMMONLY KNOWN AS DEPERANCO. 

DEAK PERERA WALL STREET, INC. 
d/b/a DEAK-PERERA PUERTO RICO, 
f/k/a THE PERERA CORPORATION, 
f/k/» PERERA COMPANY. INC. 

Dcbcora. 


In Proceeding* For a Reorganisation 
Linder Chapter II. 

CaaeNo. 84 B 11680 Through 
MB 11682 Inclusive 
(BRL) 


NOTICE OF HEARING TO CONSIDER SALE OF STOCK OF 
FOREIGN GOMMERCE BANK OWNED BY DEAK & CO., INC. 

TO ALL CREDITORS OF DEAK & CO.. INC. ET A L AN D OTH ER PA RTI ES I N INTEREST H EREIN : 

PLEASE TAKE NOTICE rhai on February 11, 1985. in Room 2$7 of the United States Courthouse. Foley 
Square, New York, New York, at 3:00 in the afternoon of thar day. s hearing (the "Hearing-) will be held 
before the Honorable Burton R. Liflond. United Stain Bankruptcy Judge, to consider the application (the 
"Application-) cl' Deak & Co., lac. ("Dealt") and rhe other above-captioned debtors and debtors in possession 
(collectively the “Debtors") dared January 9, 1985 seeking rhe entry of an order: 

1 11 Authorizing Deak to sell all of irs right, title and interest in and to rhe stock of' Foreign Commerce Bank 
(tbe 'FOCO Shares') pursuant ro 5 3b 3(b) and (ft of the Bankruptcy Code to: 

(a) Dow Banking Corporation (“DBC"), pursuant to that cenato stock purchase agreement dated De- 
cember I A. 1984 frbe "Agret-mem") on file with the Court, or 

(b) 5uch other third perry as may make a higher or better offer rhan that made by DBC for the purchase of 
rhe FOCO Shares, and in such event, pursuant to the Agreement as modified by such successful thud 
parry offer, 

121 Approving the Agreement or any third party modification thereof proposed in accordance wich rhis notice, 
and authorizing the Debtors to execute such documents and do other such things as may be necessary to 
consummate tbe Agreement; 

< 3 t Decreeing and adjudging thar tbe sale oi the FOCO Shares shall he free and clear of all liens, claims, and 
encumbrance* icollec rivdy the “Liens") . which Liens shall at tach ru the proceeds of such sale w irh the same 
force, effect and validity which they now have against the FOCO Shares: 

(4) Directing Foreign Commerce Bank and Bank Leu. A.G. ro Transfer rhe FOCO Shares to Deak torhecxrenr 
necessary ro contain enter the sale of the FOCO Shares; 

(5) Authorizing Deak-Perera International Banking Corporation to consent to the sale of the FOCO Shares; 

(t>) Authorizing Deak- Pert ra Wall Strew, Inc. to cause Deak-Perera Far East , Ltd. to consent to the sale of the 
FOCO Shares to rhe extent of its power and ability to effect such consent; and 

(7) Granting such other and further relirf ro rhe Debtors as may be ;usr and proper. 

PLEASE TAKE FURTHER NOTICE that the Agreement contemplates a sale of at least 9V* of the FOCO 
Shares for a purchase price of SFr I.20U (1,200 Swiss Francs) (approximately U.S. $480) per FOCO Share, 
payable in Swiss Francs in two installments. The first installment shall be paid at the closing of ihe sale, and 
the second installment (which shall bemr.interesr at the Credit Suisse Certificate of Deposit rate in effect) to be 
paid one year from the dare of closing. In addition, the purchase price shall be subject to the following adjustments: 

(a) Deductions from each installment due under the Agreement fur Desk's purchase (simultaneously with the 
dosing of sale of the FOOD Shares I from FOCO of ti) FOCO* ferry-nine 1491) percent intetesr in Deak- 
Perera U.S. , Inc. for rhe price in Swiss Francs equal to U.S. $6,500,000 (approximately SFr K>. 250. 000), 
and lii) FOCO's Shareholdings in Deak National Bank for rhe purchase price of SFr -f .200,000 (approxi- 
mately U.S. $1,680,000): 

lb) Deductions or additions (as the case may be) ro rhe purchase price in an amount equal ro rhe amounr by 
which tbe adjusted net asser value per FOCO Share ar December 31. 19>W , is grearcr or less than SFr 1070 
(approximately U.S. $428), which represents rhe book value of each FOCO Share as at December 31. 1983; 

tc) Deductions from the second installment for any losses or claims asserted prior ro the payment thereof or 
any damages resulting to DBC from any breach of representation or agreement by Dcidc. 


The 

copy 


Kredtabn Indices 

(Bose 100 Mnv 1,1977) 

industrials. USS LT 

inll Itahlutlom USS L.T 

US S medium retro 


Canadian s medium term 
ECU medium (arm — — 

UC 9 

DM 

Guilders 

FF short term 

F Lux 


inn Inst. F Lux medium term 

F Lux medium (arm 

Inn Inst. ion term 

ECU Short term 

ECU Iona term 


Jan. 17 


94A1S 
9 tM 
102.77 
103.794 
104-791 
90474 
99.474 
103 312 
120.991 
101.706 
10&JB2 
1033S1 
104)66 
101.997 
104875 


terms and conditions of the proposed sale of the FOCO Shares to DBC are sec forth in the Agreement, a 
. , of which is annexed as Exhibit "A - ro the Application which has been filed with rhe Clerk of the Bankruptcy 
Court and is available for examination by interested parties during regular business hours. 

PLEASE TAKE FURTHER NOTICE that the Hearing may be adjourned from rime to rime without further 
notice to credirora or other parries in interest other than by an announcement of such adjournment on tbe date 
scheduled for the Hearing. 

PLEASE TAKE FURTHER NOTICE that at cbe Hearing, the Court will consider the Agreemenr and any 
higher or better offers which may be made in accordance with this notice. Any party wishing to nuke what it 
considers to be a higher or better offer to purchase rhe FOCO Shares must, pursuant ro order of the Bankruptcy 
Court, comply with rhe following procedures: 

la) Each bidder roust reduce in offer to writing, which must be received by. (i) Deak Be Co.. Inc.. 29 
Broadway, New York, New York 10006. Aren: Mr. Oreo E. Ronhcnmund. lii! Counsel for Deak & 
Co.. Inc., Levin St Weinrraub & Crimes, 225 Broadway, New York. New York 10007. Attn: Herbert 
Stephen EJelman. Esq., (iii) counsel to Dow Banking Corporation, Milbank, Tweed, Hadley & McOoy. 
I Chase Manhattan Phaa, New York, New York 10005. Aren. Barry G. Rsdick, Esq. . and Michael Brian 
Hopkins, Esq. and (iv) counsel to the committee of unsecured creditors, Anderson Russell Kill & Olkk, 
666 Thud Avenue. New York. New York 10017, Arret: Arthur Olick, Esq. , on or before February 4, 1985; 

(b) Each offer shall specifically set forth any modifications ro rhe Agreement which rhe competitive bidder 
would require, 

(c) Offers which reflect modification of the Agreement to rhe extent of an increase in the purchase price shall 
be in increments of at leasr SFr 1.250,000 (approximately U.S. 8500,000) grearcr than Dows offer, based 
upon a gross purchase price of SFr 120.000.000 (approximately U.S. $48 million) for UKW of the FOCO 
Shares, subject to rhe same adjustments contained in rhe Agreement: and 

<d> Each bidder muse deliver ro Deak a certified check, or other form of downpayment satisfactory ro Deak, 
equivalent ro IO** of the bid. to be refunded to all unsuccessful bidders promptly after the Hearing; 

PLEASE TAKE FURTHER NOTICE thar objections, if any, to approval of tbe Agreement or to any portion 
of the relief requested by the Debtors, shall be lilrd with the Bankruptcy Court and received by Levin & 
Weintraub & Crimes, Milbank, Tweed, Hadley & McCloy. and Anderson Russell KiU & Olick, at the addresses 
.set forth above, on or before February A, 1985 ai 5:00 o'clock in the afternoon. 

Dated: New York, New York 
January 10. 1985 


LEVIN & WEINTRAUB & CRAMES 
Counsel to Dcbtore and 
Debtors in Possession 
225 Broadway 
New York, NY 10007 
Michael I. Crimes, Esq. 

Herbert Stephen Edelman, Esq. 
Andrew Kress. Esq. 

Cindy E. Tzerman. Esq. 

(212) 962-5300 


BY' ORDER OFTHE BANKRUPTCY COURT 
HONORABLE BURTON R LIFLAND 
United Starts Bankruptcy Judge 


1 




n 


Page 12 


INTERNATIONAL HERALD TRIBUNE, MONDAY. JANUARY 21. 1985 



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2140 * * 

92700 58 

60219* 18* 
433 5 0* 

62122* 22* 
2)717* 15* 
108 6* 0 
520813* 11* 
1721 7* 5* 
61310* 9* 
10*130 35* 

300 7* 0* 
86210* 9* 
2790820* 20* 
7254631* 27* 
134832 28 

84513* 12* 
297B30V 27* 
4Z3 9 8* 

11 * * 
1331 4* 3V 
145230* 19 
J0b 14 130122* 21* 
193 8* 7* 
.12 .9 205414 124k 

lira m o* 
55116* 15* 
015* 14* 
144 IB* 17* 
923264k 26 
158 8* 04k 
3Z710W 9* 
78733* 31* 
2CH2T2 MW 
153 3* 3* 
30116* 10* 
172 10W 9* 
1492 0* 0 
733 5* 5* 

35010* 9* 

259115* 12* 
297722* 20* 
39710* 10W 
230718* 16V 
42 4* 4* 
103 3* 2* 


xoa u 


JOe 24 
40 ZJ 
.10 1J 


.12 IJ 


40 25 
JOb 5 l 5 
40b 12 
M 3j0 


X 4A 


7* + 

5W + 
14* + 
2BW + 

MV 
9W + 

16 — 

25 + 

35 *— * 
17V + * 
10 — * 
15 + 1W 
17V + 1 
23*4 * 
4*4- I* 
74k— W 
9W+ * 
17V— * 
B4k + W 
11 V + 2* 
13W + 1* 
13*— W 
9 + 1* 

15 4-1 

7V + * 
38*+ 1W 
34*+ 2* 
11* + 1W 
9W+ . 

19*+ 1* 

29* 

4* + * 
1%-ft 

17 

10 — ' 

’kU* 

57V + IV 
189k + * 

5 + W 
22*+ W 
17* + 1* 
6 * + * 
12*+ 1M 

7 +1* 

10W+ W 
38 +2 
7 + W 

10*+ W 
20+3* 
2**— 1W 
30V + 2* 
13* + U 
30* + 1 
9 + V 
w 

0W+ w 

19V + I* 
22 * + * 
0 + W 

13*— * 
044 + W 
10* + 1* 
14* 

18 

20 *+ * 

a* 

10 + * 
33+1* 
11W + 1W 
3V— W 
10 * 

10*+ W 

6 — to 
5V 

10 + V 

15 +2* 

22*+ 2 
10 *+ * 
18* + 1* 
4W+ * 
2 *— * 







, 





Sales In 


Net 



100s 

High Lem Close Choc 




996 7% 

7V 

7*— ft 

BIshGr 



148 7* 

6V 

6V— Vs 

BllssAT 



585 % 


ft 





113727% 

27 

27* + ft 

BobEvn 


1.7 

42118* 

17V 

IB 







9 + 1ft 




267 9 

BV 

8% 


BstnFC 

.IDe 

J 

183216 

15 

16 + 1 


BroeCP 



100712 

11* 

11% + V 

Branco 

J4 

4.1 

601 6 

5% 

5ft+ * 

BrwToni 

t 


6448 3% 

3* 

3%+ 1 

i 

Bruno 

3B 

IJ 

337022% 

21* 

22* +_. * 




13Z7 IV 

1% 

lft— ft 





192122% 





.183 

3 

7X19 

17* 

19 + lft 

BurrBr 



66617ft 

15V 

17ft + lft 

8MA 

1.94 

40 

10549 

48ft 

48% + 1 

i 

Buslnld 



5839 5ft 

4ft 

5 + *| 

1 



C 



1 


BBOO 

2J0 

45 

3111 45V 

42W 

44+1* 

BFiCm 



391 1% 

IW 

lft 


BlWCb 

-10a IJ 

39 7V 

6W 

6% 


BPISv 



1173 2V 

2V 

2ft + 

ft 

LyyTiiM 



rpi 

10% 

11* + 

% 

-[■i r 

i 


1021 BW 

7% 

7% + 

% 




650619W 

17* 

19W + lft 


JO 

43 

20517% 

19 

19% + 

* 


L24 

AA 

236930V 

25* 

a +a 




1389 7M 

5% 

7W + ltk 

BanaH 

JO 

MJ 

1006 7ft 

7W 

7% + 

% 

BkNE 

2J4 

4J 

70762 

56% 

61 +4 

BIcMAm 

1J0 

9J 


9* 

I0% — 

ft 

Bankvt 



11211% 

1DW 

10% + 

* 


J4 

23 

393228* 

26* 

a + iv 




530 7% 

6% 

7%— 

% 

Balm 



405 3V 

2* 

ii*: 

ft 

BsTnA 



9510 

9% 

% 

BasAm 



877 Bft 

7W 

Bft + IV 

BstrtF 

JOa 

23 

116135V 

as 

35* 


BayBfce 

230 

49 

1461 45* 

43V 

45 + IW 

Bayly 

.12 

IJ 

380 6% 

6ft 

6% + 

% 

Bl Fuses 



71811* 

10% 

11V + 

% 

BetINt 



895 7V 

6% 

7W + 

ft 

BachCf 



109 7* 

7W 

7W — 

% 

Benban 



75614V 

12ft 

13*— 

% 

Betihnwi 



563 Bto 

7W 

7 ft— 

V 

Berkley 

BesICa 

JZ 

2J 

S 15 « 

U 

ft 

'VU 

w 

Betz u> 

UO 

X& 

3580 34* 

32% 

33% — 

w 

BevHB 



637 7* 

6W 

7 + 

w 

BlfiB 



24112% 

12 

12* — 

ft 

BlaBHe 



152 lft 

1% 

lit+ft 

BhaBear 



29011 

10% 

11 + 1 

Bluings 



5419 3ft 

IW 

3%— 

ft 

BMy 



88023 

a 

22* + 2 

Bto Res 



1588 5% 

4W 

5% + 

ft 

Btagen 



1891 BW 

7% 

TV- 

% 

(Have 



284 5% 

4ft 

Aft— 

w 

BtatcR 



652 9% 

8% 

9% + IV 


C COR 

CPRhb 

CBTBC 

CBT 

CML 

CPI 

CPT 

CSP 

Cache 

CACI 

CbrvSc 

Calibre 

Cel Ante 

ColMIc 

CalSlva 

CallenP 

Calny 

CanortG 

CopFSL 

CepCrb 

CardDls 

Cardies 

Carolln 

Carter, 

Caseys 

Cancer 

CirtrBc 

Cent cor 

CenBcp 

CnBshS 

CFdBk 

Cent ran 

CarbrA 

Carartk 

Qrtus 

ChodTh 

ChncCe 

ChopEn 

ChrmSs 

ChkPnt 

ChkTcti 

ChLwn 

Cftemex 

ChrvE 

ChIChl 

on Poe 

Chomer 

Qirenr 

OirOws 

□wm 

Clnla] 

Cipher 

Clortai 

Clrcon 

CtzSGa 

CtxFUs 

drill A 

CtzUt B 

City Fed 

CtyNCo 

CJalrSts 

ClarfcJ 

ClearOi 

ClevtRI 

Clthtme 

CocstF 

Cade Lb 

CocaBls 

Coeur 

Cosmic 

Cohmii 

Calabfi 

Cafaeen 

Collins 


1153 9* 7* 9% + I* 
2388 9* 7* 9* + 1* 
JO 24 4324* 23 23 + * 

I JO 4J 114839* 30V 39% + 3 
24010* TV TV— * 

287214* 14 14* + * 

8109 8W 5* TV + 2 

413 0V 0W 6V + * 

1050 3* 3* 3* + W 

4809 5* 4* 5V+ 1W 

453518* 17* 18*— W 
44 2* IV 2* + * 
1114 4* 3* 4* + V* 
5941 10* 8* 10W + 1* 
411 3* 3* 34k + * 

707 3* 3 3* + * 

.16 1 J 1405 9* 8* 9W + * 

405818* 10* 18* + I* 
■OSe J 3978 9* 8* 9* + I* 
7202 2* 1* 2* + V 

JOe .1 35715V 14* 15*+ V 

95312* 11 12*+ * 

1020 2* 2 2W +h 
> 165311* 9W 10* + 1* 

47316 14* 1546+ I* 

0519 17 19 + 2* 

1J0 64 100628* 27V 28 — * 

203111* BV 11* + 2* 
205b 5.1 58540V 33* 40* + 2 

1-33 4J 83527* 25 27 +2* 

1.12 18 29029* 2BV 29W+ W 

JO IJ7 228335* 34 35* + 1* 

.12 IJ 310 6* 5* 6* + * 
337 3* 3*6 3* 

261710V 9* 10*+ * 
59 IV IV IV 
201 S 4* 4V— * 
734 5W 5W 5*- * 


.18 

IJ 

156318% 

16ft 

IBV + 1* 



299016* 

13V 

16 +2% 



217 1 

7W 

7W — ft 

J8 

16 

59527% 

36% 

27V + 1 



663 SW 

5* 

5*— * 

■12e 

J 

77215 

13V 

MV+ 2 


38 10 
.18 9 

J3ta J 


3b 
92 12 


3567813V 12V 129k— V 
71183* 78* 77*— * 
105319 18* 18V + V 

1024 9 B* 9 + * 

51313* 12V 12V— * 

mziiow iaw iow— * 

70 SOW 25* 25V 
577325* 22 25 +3 

20111 9W II + IV 

1036 0* 5V 0 — * 

3 3 417120* M 20ft 

42529* 28 29 + 1* 

t 50529 28V 2? 

1J0 42 7729 Z7V 29 +1* 

■20c 1J 679712* 10V 12V + IV 
JOB 17 3X523* 23 23*— * 

J 51 .1 220735* 30 35 + 4* 

-88 14 43426* 25* 26 
23015* 14* 15 

1J2 76 17120* 17* 19V + V 

819 TV 9 9* + * 

I7B14W 13V 14*+ W 
90413 lev 12V + IV 
71928* - 

59913 
1414 3* 

4543 23 
1080 5V 
71413 
300 5* 


Jea 2 j0 

t 


Compos 
CCTC 
CnwAs 
ptAUl 
_maDt 
CpIEnt 
CmetH 
Cmaldn 
CmpLR 
“metM 
f*d 
Rs 

ViCpfUl 

ssr 

Cmarve 

Comshr 

Cmpshp 

Comtch 


27 28V + V 

12* 12V— * 

2V 3W+ W 

21 22 * + 1 * 

4V SV+ W 

12V 12V— V 

5 5W+ W 

92 11 IBS 29V 29* 27V 

5B3B19 17 18V + IV 

JO 41 269617% 15V 17* + 1* 
351 1W V V— * 

I 113513V 12V 13 + * 

.12 J 212222* 20* 22 + IV 

.16 12 255714* 13 13*+ * 

2430 2* 2V 2W+ M 

2.10 5J 82438V 30V 37V + I* 
92 13. 44327* 27V 29 +1* 

-500 47 70211 10V10V+ W 

IJ4e15-1 184 BV 8* 8V+ V 

1 JO 41 18631* 20* 31* + 2 

044 4 3V 3W — * 
JO 1J 233720 17 17V + V 

34911* 9* VPS, + 1 

173725* 24 * 25*— * 
2S248 7V 6V 7 + * 
-Olr 7213* 12V 13* 

40 1 J 477220V 24V 20V + IV 
780 7 0* 6V— * 

1336 IV lft— S 

1622 3% 2V 3*+ V 
12997 15* 11 V 14* + 2* 
242922 in 21 +2 

2578 5 4V 4* + V 
JM J 16011V 11* 11*— * 
280 5* 5* 5V+ * 

477 7* 7* 7* + V 

1409 8 7* 8 + V 

.12 14 1204 BV 8* 8W- W 

3V 3V 3W+ * 
15V 16V + V 
3 3* 

31915* 14* ISW + 


OS 


31915* 
83 1W 
776 6V 
135 0* 
952 3W 
622 7W 
560 4W 
2412 IV 


6V + V 

rra 

atia 

IV— ^ 


5am in Net 

100s Hloti Low Ckoe Ch'oe 
153 9 IV BV 
102821 V 21* 21* + 
U0O134 150225* 24 25 + 

iJSa 9J 410 IB* 16* 17* + 
13a 134 151929* 24* 29* + 

200 8* 7* 8 


Concpti 
Conllrs 
CnCeo 
CCopR 
COOPS 
ConFbr 

CnPnPS 128 3J 208536 
ConsPd J80 u 112 s* 5 5W 

Consul 720 6 5* 5W 

cm I Ben 2Mb 62 38S32V 31V 32V + 1 
CtlHIrtl 2507 15* 1M 15V + 7 

CtIHIIC 
Cirtinfe 
CILosr 

Convst 
Canvrsa 
CoprBlo 
Goers B 
Copytot 
Co ream 
Cordis 
Const 
Cervus 
Cosmo 
CrkBrl 
CrlmeC 
Cronus 
CrosTr 
CwnBk 
Crumo 
CulkiFr 
CuHum 
Cvcare 


40 


2J8 


.14 


3639 5* 3* 4* + 1 

657 6* A* 6V + V 
■33 7* 6* 6* + V 

34872 9* 8* 8W+ 4 
342718* 16V 18 + | 

2119 3V 3* 3* + 1, 

12 549818V 17V MV + 9 
147524* 21 24*+ 2 

83 9* 7* 8V+ 9 

2413 9* BV BV — 1 


3* 

5* 


4* + 
6M + 


t 


.94 

J6 


1898 4* 

' If * w 

58813V 12V 13V + 

19 BS4327V 24V 27V + , 
I0T511V 10 11V + 

1.9 212023* 19V 22V + ! 
3.7 30025* 34* 25V + 


22123* 21* 22* — 


L D ] 

DBA 



59713% 

ITT? 






Ifn" 


Daisy 5y 



16181 30* 

Rl' 1 

a +5% 

DalasF 




24* 


DmnBla 






DartGp 

.13 

.1 

WL 1 1 ■ 

85 

90+5 

Datcfd 

34 

IJ 

120718 

17 

17ft + to 

DfalO 






DtSwtch 



7900 8% 

6% 

8W+ ZW 

DqIdwt 





4V+ to 

□atsep 






Dtastti 






Datum 



682 7W 

6* 

7to+ l 

Dawson 




■Fto 

Sft— % 

DebSh 

.15) 

J 

57010V 

MV 

IBW+ 1% 

DectsD 



IS58615W 

13% 

14ft + 1% 

IMM 

32 

34 

167421% 

21* 

2) V — h 

Delctim 

JS 

U 

7B51SV 

14% 

15 + to 

DeJtaDt 




1% 

1%— * 

Del taus 



1657 1* 

IV 

lto— * 

DenHcr 



1153 6* 

5% 

Mk— to 

Dent/lAd 



2507 7V 

A* 

6%— V 

DetecEl 



156 4W 

4* 

4%— % 

DiagDt 



699 Sft 

3 

3V 

DlagPr 



1% 9ft 

9 

9* + * 

Dlasanc 



6155 3V 

3* 





28B314 

11V 

13V + 1* 





12* 

13 + * 




161 5% 

4% 

4ft 

□totem 



1995 IB* 

16* 

18 +2 

DioltSw 



21995 25W 

23* 

25W + lto 




1183 29 

% 

28* + 2% 

DhdLog 



287 6% 

8 

6M+ % 



3JI2253 9* 

8% 

* 




431 4% 

4* 

4%+ to 

DlrGnl 

.20 

3 

MDJ 23* 


23V + 1% 


1.X 

44 

86827% 

fH 

27* + ft 

DrctiH 

X 

1.7 

48417% 


17 +3% 

DavIDB 

J8 

4J 

43618% 


18* + % 


.lSe U 

32710% 

9% 

10* 




37611 

10% 

10%+ * 




76414% 

15% 

75*+ to 



IJ 3111 19W 

19* 

17% 

DunkD 

37 

IJ 

■05125 

23% 

a + lft 

Durl ran 

J6 

48 

99411% 



DurFII 

.16 

IJ 

840 13* 

12* 



| 


1063 4* 

3* 

4* + V 

Dyti left 9 



1801 20* 

Ol 

19W— % 

Dvsan 



907511* 


11 + ft 

1 - _ ... -E 1 

EH int 



282 2W 

2% 

2h 

£1P 

.12 

J 

26815 

17* 





4484 % 

to 

East 71 



6629 Sft 

4ft 

5%— % 

EagT wtA 


55 6W 

5% 

6W+ V 

EarICal 



12 A 

5% 

SV 


1J4 

3.7 

11929 

77ft 

27ft + V 


.12 

U 

1464 10 

8 

9V + IW 


J8I 

Z1 

4M 4 

3to 

Sft— * 

Elk on x 



26713* 

11% 

12W+ V 




497 9% 

7V 

9to+ 1ft 

ElPas 

146 

ID 

427913% 

13 

13V + * 

Elan 

J7e 

.9 

741 7ft 

7% 

7% 




2424 9% 

8% 

9* + 1 

Eldon 

.16b i.i 

61 14* 

14* 

MW— * 

EldrM 



408 5V 

5V 

SW+ % 

ElecBla 



2990 BV 

7V 


ElCaths 



FTFTT7I 

17 

av + 3* 

EtoNud 




11% 

12%+ 1 

ElcRni 



260319W 

17* 

17ft- 1* 

ElFAadl 



11918* 

17ft 

17ft 




7414 

13% 

13*+ V 

ElctMis 



78 SW 

5 

5V 

ElronEI 



wn 

\ 


EmpAIr 



3312 9 

8 

8W+ to 

Emu lx ■ 


1553611% 

8 

11% + 3V 

Endta 



1046 7 

• 

♦to + to 

Enrtvca 



244 6V 

5 ft 

AW 

EndaLs 



2672 Sft 

7* 

8W+ % 

EngCnv 



52329* 

27* 

a - iv 

EnFoct 



286 Bft 

8% 

6V+ % 

EngOii s 
EnaRsv 



XI 5% 
665 1 


HV 


32 

1.7 

5112V 

12 

12V + to 

EntPutJ 



26316 

13% 

15 + IV 

EnzaBI 



400919V 

18 

IBV + V 

Equat 



27X18* 

17V 

17*+ % 

EcrfOH 

X 

13 

561 6% 

6 

6 Hi — W 

ErlcTI 

94a 3J 

726930* 

V 

29* — lto 

EvnSul 



107115., 

14 

14V +., V 

Excel Tc 



559 ft 

% 

W— Hi 

Exavlr 



17SI14W 

13* 

Mto+ V 

1 1 


POP 

FMI 

FamHIs 

FarmF 

FimG 

FedGrp 

Feroflu 

Flbron 

Fldlcr 

FlItllTtl 


421 7V 7* 7V 
JBr 4 3810 5* 5* 5*— W 
572 IV ltk 1*— * 
t 269422* 19 20V + 2 

1J2 X0 549851* 47* 51* + 1* 
179826* 23* 20* + 3 
1664 7* 6V 7 + * 

351 14W 13* 13V + * 
240 54 92848V 47W 48V + V 
220 17 26957V 57* 57V + IV 



Sales In 


Nei 



1DQS 

High Law Close Chtoe 

Ftooto 

JB 

Zi 

1197 MV 

23% 

MV + * 







Fllfrflt 

JO 

25 

ijoii 

MW 

14*— * 

Final co 

JO 

SJ 

73 4* 

3% 

3ft 

Flnsmx 



1735 7% 

6* 


Pin toon 



1458 10V 

9 

iov+ ift 



*J 

54823% 

22% 



72 

20 

13626V 

25W 

25* 

FIATn 

1.10 

4.1 

215127% 

as* 

27 + ft 


2J0 

SJ 

5653 

» 





Z7915W 

13W 


FCemr 

IJ0 





FDataR 






FExec 



1332613V 

11* 


FFdMfe 




9V 


FFdCal 




14 

MW+ * 

FFFtM 

JOB U 

16519% 


19%+ * 

FIFnCn 

JO 

4.1 



19* + ft 

FFnMat 



K? 7Z 

wjjm 

19% + 1 


JO 

17 

■r : ■ 


22ft + to 

FJerNt 

m 

5J 

■ Lj - -I? 

31 

32% + IV 


UO 

5.1 

42431% 

31% 

31 W + % 

FNIian 

UOb 55 


51 

51*— V 

FNtSup 

m 



RCj 

13ft— to 

FRBGa 

9b 

r n 



28% + IV 

FtSvFla 

JOb 15 

16821% 

20W 

20V— V 

FSwW* 



166 8* 

7* 

a — v 

FfSecC 

1.10 

49 

6*122* 

X 

22* + 216 




537431 


30ft+ 1* 

FtunCs 

1.12 

XI 

479936% 

35* 

36* + 1* 

Flakev 



1595 6V 

sv 

6 - * 

F least i 

JB 

3J 

52014* 

13V 

14 — to 

FtaFdl 

JOe IJ 

485916% 

16 

]6to+ * 

FIN FIs 

72 

23 

273031V 

XV 

30V- % 




63416% 

I5W 

16* + 1% 


70 

U 

33913% 

12* 

12V + % 




1783 5V 


4ft— to 



A 

1587 16V 

13V 

15V + 2V 


J9 


21XU 

12V 

M + lto 



34 

94827* 

36V 

27 — U 




48719* 

18% 

19*+ to 

ForWF 



165316 

15V 

15* 




3SW 2% 

2% 

2% 


J6 

714356 8* 

7* 

8* + lto 


.10 

IJ 

2021 6* 

6* 

6* + * 

Foxmyr 








27 







388613* 

10% 

12* + lto 

FulHB s 

X 

20 

151615% 

MW 

14V + to 

| 



G 


1 




1377 7% 

7* 

9to + I* 




74813% 

13 

13 



1.1 

3538 9% 

8 

9*+ ft 




14711% 

n% 

11V + * 




3354 3% 


3* +17. 




530741 

X 

40*+ V 




548 7 

SV 

7+1* 




826 8% 


8 + * 

Genet E 



397 3% 

3% 

3V+ to 




366 4 

3% 

3ft + * 

Genets 



0181 6V 

5 

Ato + iv 




2964 6% 

SW 

eto+ V 

Genova 

.10* 

20 

172 5% 


5* + u. 

GaFBk 



650612% 

7ft 

12% + 2% 


JB 

IJ 

569 6* 

SV 

6W+ * 

GHhG 

J1 

7 257428% 

26V 

a* + IV 

GtooTr 



10718% 

17 

18 + * 




637411 

W% 

I0to + W 




13211V 

DE 

11% + to 




574 ft 

ft+ to 




254716% 

15% 

15ft + to 

Gait 



218612% 

11* 

11%+ V 

GauMP 

76 

43 

1833 18V 

16 

17* + 1% 


AA 

37 

63312V 

10ft 

12 + V 




1149 BV 

8 

HW+ to 




56770* 

9% 

10ft + 4k 

II , 



1201 SV 


5 + to 


JB( 

25 

MX 18 

15 

17+2 




34212W 

11% 

12* 

DraenT 



57017V 

16V 

19% + 2% 

Gtech 



361415% 

13 

15* + 2* 

Gollfrd 



80915% 

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iDfematiqii^ Herald ll^Bienii^yMitp 



Meet the 


New Bench 
Cal >ii let 

February 26, 1985, Paris 

Following the success of our 1982 conference , we are pleased to announce a one day briefing session 
focusing on “Modem tat ion: Priority for the French Economy 1 
With the cooperation of the French Government, we have gathered together the key ministers most 
directly involved with policies affecting business activities in France. 

The program will include presentations by: 

Pierre Beregovoy, Minister of Economy, Finance and Budget 
Edith Cresson, Minister of Industrial Redeployment and Foreign Trade. 

Hubert Curien, Minister of Research and Technology. 

Michel Delebarre, Minister of Labour, Employment and Vocational Trading. 

Roland Dumas? Minister of External Relations. 


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4J 56428 * 25* 28 4-2 

2313 9 5* 8 + 2W 

14955 9* 8* 9* + * 
AST 34 16040 14* 15% 16 + M 

838 3V 3* 3*— Vk 
276021* WV 20* + 1W 
40 II 33519% 18* 19% + IV 
91 29 647134* 31* 32 - 1* 
.12 L4 2712 BV 7* BV + W 
57612 !0V 11* + V 

165523* 26* 23 +1* 

872 23V 21V 23V + IV 
632 8 7* TV + V 

1039 2* IV 2* + V 
370 IB 76* 171k + V 


1.12 


Meedts 



1288 7ft 

6* 

Ato— 

W 




346 8 

7* 

8 + 

% 

StockSv 

Mentor 



191713U 

12W 

12 



.16 

3 

52133* 

32* 33 + 

to 


MrntrG 




20* 

24* + 3ik 




126 7 

A* 

6V + 

to 


MercS 6 

197 

5J 


X 

+ 

% 




270 37k 

3ft 

3» + 

to 


MercBk 

ua 

J.V 

12143V 


43% + 

% 





SV 

5% + 


StuortH 

MrchCo 



ia 13% 

12* 

13 + 

to 




76314ft 

12% 

14% 



MerSw 

jo 

3J 

9123% 

2J 

23 _ 

V 





44* 



MrdBc 

2J0 

AJ 

54840% 


40% + 

V 





15% 

15V— 



MrdBpf 

25U 

8J 

10431 

IZ3 

30to + 

to 


.le 

19 

250 4ft 

4* 

4to 


SumtHl 

MerfBs 



14014V 

14% 

14% 



.16 

3 

384 JSV 

35 

35% + 

* 


MervGe 




I4W 

15% + 

to 


UO 

B 3 

45214 

13W 

13V + 

% 

SunMed 

Me hr Air 



220214* 

lift 

14 + Hk 




90 2* 

2% 

2% 


SunSL 

MetSL 

JO 

5J 

32711ft 

into 

11* + 

v 









Mlcom 



702037% 

a 

X*+ 2* 




iPrTHTl 

4U 




MlcrD 



1741 4* 

3* 

4% + 

to 


40 

2 A 

34917% 

I5V 

16V + 

V 


MlcrMk 



46211 

hi* 

10* + 

% 









Middy 

JM 

1.1 

1272 5W 

5 

Sto + 

to 

1 






“1 


MldTc 



626525V 

21ft 

23% + lto 



— 






Ml crap 



1537 5* 

45b 

5V + 

* 

QM5S 



47X15 

13* 

14V + 1% 


MlcrSm 



696 A 

4to 

5to + 

w 

Quodrx 



2291 5* 

4% 

5to+ lto 

Syntedi 

MdPcA 



870 5ft 



to 


ja 

73 

19525% 

MW 


to 


MdStFd 

JO 

23 

2319 

IB* 

18* 


QuolSv 



829 3* 

7% 

3to + 

to 

Sncon 


SrvHbv 

Sheidhl 

Snan+y 

Short 5os 

Shpsmt 

Silicon 

Silicons 

SlllcVal 

SUtaw 

Siiiac 


SoftwA 
SanocP 
SonrFd 
5a Bast 
So Haw 
SWidFn 
Soufrst 

Sovran 

Sovran 

SacMIc 

SponA 

Speeds 

Soctron 

SpdcCII 

SpertID 

Spire 

StorSrs 

StotB Id 


Standvs 1-00 45 


139212 10* 11V + IV 

465415* 12V 14* + XV 
410314* T3* 14V + * 
.tOr 1.1 524 9* 8* 9 

I 80314* 14 MW + * 

68 17 2734 IS* 17V 18* + * 
232814% 14 14% + W 

1J0 45 347033% 32V 33% + % 
97016 15* 16 + V 

3456 8V 7* 0* + * 

100 »J 832150 49* 50 + % 

496 3% 3* 3* — W 

05r J 129 7V 7* 7* 

85 B* 8 8 — * 

173 W % V 

.12 IJ 48 7V 6* 7* + 'A 

140a 46 2335* 34* 35 — * 

.72 26 16628* 27% 27% — V 
2711 9% 7% 9* + 1* 

23013* 13'A 13* 

32 33 63910 9* 10 + 'A 

60 2J 63216* (6 16V + * 

112 Ik. 7 7*— V 

J8 £J 125 5X7 5* 5% + V 

322 9* TV 9W + 1* 
292 4 V 4% 4W+ * 

49112’A 11* 11* + * 
1388 4 3% 4 

B2917V 15* 17V + 1* 
1826 8 6* 7%+ 1 

43984 8 7 7V + V 

365 2* 2* 2*— W 

2940 6 * 5* 6* + 1 

JO 19 49920* 19* 20* + 1 
8M BV 8* BV+ * 
J 15178 BW 7U 7V + V 
•610452 12V 11* 12V + % 
16 3W932W 29V 31*+ IV 
55016’A 15 15V + * 

119 6 5* 5V+ * 

1.1 33814% 14 14% + V 

IJ 591230% 27* J0V + 3 
56 205631% 30 31V + IV 

3 129819 16% 18% + 1% 

60718 16V 17V + V 

J 213335V 32% 33% + 2* 
25414% 13V 14%+ % 
IJ 75 5* 4% 5* + * 

3633 9V BW 9* + 1 
90914% 12* 14% + 3% 
37577V IS* 17 + 1 
112517V UV 16V + 2 
126210 8* 10 + 1W 

14* IS + * 
IS* 15V + V 
4 S + I 
16V 16V + % 
11W 11V + * 
4* 6* +2% 

3% 3% — V 

7% 7V+ W 
38 38% + % 

12V 13%+ * 
7 7W+ W 

1815 IBV 17 10% + 1% 

I JDa Z9 41240V 39V 40V + V 
128417V 15V 17%+ IV 
JO IJ 45123% 23* 23% — % 
740 4* 4 4 — 

IJ 351 30V 29% 29% — 

43 63823V 22V. 23V + 

IJ 2429 8% 0 BW 

u ’R ”3*7 

472 4V. 3% 5V + 

81413* 12V 13W+ IV 
117513 12 13 + V 

J 714 6% 5* 6W + V 
13 3V. 3 3V 

29815V M* IS 

44211% 11 11 — * 

U 2411 7 5V 6% + 1W 


JS 

m 

1.12 


.16 


U 


USL1CO 1J0 
UTC 

Lilt rev J6e 

Unanwi 
Unlfl 
vlUnloll 


B42BV 28 2BV + W 
222UW 17* 18 + * 

7776 8* 7 7V — * 
978219* 16 19 +3 

I2SS10 9* 9%+V 


UnPIntr 



93818V 

llto 

18W + 


UnTrSC 

240 

4.7 

17851% 

49* 50* + 1 

UACom 

.12 

J 

177927% 




UBAIgk 

lOe 

1.1 

281 9% 

BV 

9% + 


UBCel 

ua 

4J 

1457 24* 

23ft 



UnEdS 



293 2% 

2 

2% 


UFnGrp 



912 BW 

Sto 

SV + 


UFdFd 



79413ft 

U 

13ft 


UGrdn 

t 


11X18 

17 

17V + 

ft 

UPresd 



47510 

9to 

10 + 

% 

US Ant 




7* 

3W + 

ft 


US Bcp 1-00 18 249426V 25% 26V + * 
US Cap 720 2% 1% IV— V 

USDsan 1456 5V 5 5*+ V 

US HI 8 5845 34 30* 33* + 3% 

US SMI 069 IJ 477 4* 3% 4W+ V 

USSur 3349)6% MW 16* + 2* 

usrnt 130 7J 998 12V lift 12V + I 

US Tr 1 JO 33 94S4SV 44V 45*+ V 

UStatn S JO 3 439221V 19V 21V + I* 

UnTeiev 79417* 16U I7W+1V 

UVaBs 164 35 275736* JS 36* + I* 

UnvFm 167318* UW 18 +2 

UnvHIt S577T2W 10* 13% + 2 


UnvHId 

359 4V 

4 

4V + 

w 

UFSBk 

189 9* 

8V 

7 


UrgeCr 

B02 5ft 

5ft 

5W + 

w 

Uxeofe 

J7e U 212 4 

3ft 

3ft— 

w 

1 

VLi 

1389 6* 

5V 

6 — 

* 

VLSI 

425710V 

1% 

IBV + 2% 

VMX 

787311ft 

9ft 

10* + 

to 

VSE 

.150 13 51 9* 

nv 

8ft + 

to 

VotldLO 

1161014* 

12ft 

14* + I* 

VolFSL 


9 

e 



52 
1J0 
.10 
1 JB 


<05 


JO 


* 

% 

V 

•A 

ft 

2* 


nr 


+K. 


ValNtl 1 JO IJ 336731% 29% 31% + 1* 

ValLn AOs IJ 92026 25 25ft + * 

Van Dus 60 3J 23414 13* 13W— V 

Vanratl 67812V 11V 12 + ft 

VectrG >596 W fi *+* 

Vent rex 2140 4* 4V 

Vela 1137 * V 

VtajnF 91 2W 2% 3 — W 

Vlcorp .12e J 167417% 15 17W + 2% 

VlctraS 304 3 2* 3 

VM93QJ 4120 19% 20 + % 

ViedeFr J2e U 141212* 11* 12 + w 

Vlklno 126713* 11V 13 + 1* 

VTrofek 53120* 17W 19V + IV 

VblToch 3293 2ft 1 1W— 1* 

Vodevf 134 7V 7ft 7V+ ft 

VMHnt 68618 17 17ft + * 

Volvo 1399630V 26 29ft + 3% 


W 


-—Reg 
Shmdun 

8SSS a 

SioleG 
Stehwr 
StomrL 
SlawStv 
Sly. Inf 
SUM 


_ 22V 21% 22V 
484021ft 19V 21%+ 2% 
1.16 26 29148V 46 47ft + 1ft 
348 6 5* 5ft 

46222W 20* 22* +2 
81547V 46* 46V 


130 S3 
MM 23 
.15b Z3 


M 


32 11 


973 Aft 

5to 

6* 

1 + 1ft 

VtnrmEn 



1325 3* 

3 

3Vb — ft 

582 7 

6* 

i 

+ 

* 

WlserO 

sa 

SJ 

118619 

17V 

17V— 1 

ia 4ft 

4* 

44 



WoodO 

Ml 

X2 

46919% 

17% 

19 + V 

88614V 

12V 

M 

+ lft 

Worthw 

96 

2J 

232923V 

a 

23V + ft 

iaaw 

22% 

23 

+ 

W 

Writer 

-lie 

IJ 

685 8% 

7% 

8 + to 

285 4* 

5ft 

b 



Wymon 

JW 

XO 

171126V 25% 

36ft + lft 

306 9 

a 

8 

— 

V 



__ 





1321912V 10* 12 +2 
.90b IJ 84049 47V 48V + W 

153326V 25 36 + ft 

J5 U Wl 4 J* 3ft + W 

1J8 U 63727 117* 126 + Bft 

192 43 4&S4SV <44% 45 + % 

1787 4ft 3* 3ft + % 

J9r 1.1 1721 8fci 7% ff* + ft 
W 
% 

V 

V 

w 

3ft 4V + W 
12 13 + 1ft 

% IV— W 
9% 11* + 1W 
3% 4V + % 
9 12 + 2ft 

4% 4W— V 


1721 Bft 7% B% + 
474 1ft lit ift + 
199 7ft 7 7ft + 
t 3645 9% 8ft 9V + 
.14 IJ 38616* 15% 16 + 

49 8V 8% B% + 
3722 4* ~ 

826 MW 
15129 Ifc 
197111ft 
985 4% 

248312 
1513 4% 


34 1.7 15514V 13ft MW+ ft 


WO 40 
WalbrC 
wikrTai 
WshE 
WFSLs 
WM5B 
Waveffc 
Webbs 
WextFn 
WnCeaS Z84 
WktFSL 
WMlcTc 
WMlcr 
WtTIAs 
WmerC 
WstwdO 
WltwdC 
Wettra 
wicut 

WWCOJTI 
Wlltml 
wniAL 
wmsSn 
wtlsnF 
WlttnH 
Wlndmr 


JS 40 59522 21 32 +1 

68 3 15623* 20* 23 + 2V 

644712 9ft llft + 2W 
1J8 86 147620% 19% 2tt -ft 
JOf 26 60028V 27* 28V + V 
144012V 11% 12V + V 
1999 BW 7V Bft + IV 
29 126517V 12U 12V— V 
1921 TOW 9W 10%+ ft 
40 4147 46W 47 + IV 

1264 BV 7% BW+ % 

594 VW 7ft 8ft + * 

175 6 V 5* 6V + V 
66315 13% 14* + % 

60 Z1 22219* 19 19 

1092CV 18% 30 + V 

66115* 14 15* + 1* 

-88 35 145925V 24ft 35 
201S 3ft 3% 3% 

307510V 8* 8%— V 
40 118939V 37V 37*+ V 
13907 9W 8W H% + * 
36311* 10 10% + % 

1358 9% 9* 9ft— W 
1.9 13210ft 10ft 10*— V — 
IJ 6528 7W 5* 6ft 


UO 


JO 

J7 


Xebec 



2X70 6% 

3V 

aw + 2* 

Xlcor 



284312% 

11 

12 + ft 

XMex 



17698 lift 

I2to 

13 + ft 

y-. 1 

YhlwFt 

UO 

27 56X37* 

35* 36* + lft 

I z 1 

ZenLbB 



188121% 

UW 

21% + IW 

Zen tec 



1815 4* 

3* 

4 

Ziegler 

JOB 4J 

47011V 

11% 

llto— to 

ZJonUt 

1J4 

40 

38431ft 31 

31ft + ft 

Zitel 



305 5V 

4V 

5V + ft 

Zfyod 



245 7% 

6V 

AV 

Zondvn 

J4 

33 

1208 9to 

9 

9%— % 

Zymos 



572 lto 

IW 

lto— * 

Zvtren 



638 lto 

1ft 

1ft 


AddBtiond jnsightsvinS be provided by a 
pond of hlernaliondl businessmen and 
banker, inckidrig: Eric Boutids de Qxir- 
bormiere, S.VP. end General Manager, 
Morgan GuarortyTrvisJGornpariy of New 
York, Kasper CciKcni^cirrnan,LaMEu- 
/apeand Loii Le FJodvPrigent, Charman 
ofRK6nfrfoutenc. 

Eodipresertcflknxwfflbefofawedl^a 
quesHor+and-answer period, and sknuho- 
neousfrench-Eng^transta^willbep^ 

videdatofl times. 


*Mr Pimhciflnj^fcdwpiutiAi 

An inportartf aspect of the conference 
wfll be the extensive opportunities to engage 
in informal discussion with the current policy 
rTxJcers end with c^he- business execulives 
actively doing business with Franca 

On February 27, the Ministry of Industri- 
al Redeployment and Foreign Trade is or go- 
nizing full day visits, exclusively for corrfer- 
ence attendees, to industrial 
plants inducing 


the Aerospatide plant in Toulouse. Fufl de- 
tails will be sent to cJ participants registering 
for the conference. To register for this excep- 
tional conference, please complete end 
return the registration farm today. 

HcralfeSESribunc 


CONFB^QslCE REGSTRATiON FC^M 

Please return to: Jnfematbnai Herald Tribune 
Conference Office -181, avenue Charies-de-Gaufle 
92521 NeuffiyCedex, France. Or telephone: 7471686. 
Or telex: 61' 




Sales In Net 

100s High Low Last CtTge 


A&M Fd 

AA imp 

ABSh .40 

AECs 32 

AFP 

AM Ctrl 

AST 

AT&E 

AVM Cp 

Abram s 

AoopRs 

AcetD .10 

ACMAT 

AcnwG JO 

AcroEn 

Acroun 

Actvsn 

Act mod 

AdlSnW .70 

AdlO XO 

AdvRos 

AdCot 

AdwGon 

MvSwn 

AdvTai 

AdvtLdl 

AarSvc 
AwSrs 
Ah Bcp 1J» 
Apntcag .15 
AMAut 

Algaeb 
AJamaS JO 
Alanea 
AKKAp 


133 4* 4% ■*%— W 
55 3 2% 3 + ft 

TITO M 7 
17114* 13* 14 + ft 

925 3V 2% 3ft + % 
165 2ft 2W 2ft— ft 
2679 10* 9U I0W + 1 
338 4ft 6* 6* 

26 0% 8X4 BV 
25 6* 4ft Aft 
47 4% 4V 4V 
27925* 23 25V + 2 

103 7U 6* 7U + ft 
12* 12* 12ft 
192 2ft 2% 2% 

4 2* 2% 2%— ft 
3765 % * Ik+ W 

30021* 21* 21* 
27033* 31* 33* + 2 
38616V 16* 16* 

210 6 6 6 
25 2V 7V 2V 
132 3ft 3V 3* + V 
1113 19V 16W 18 + 1* 
116 5* 5 5* + V 

2V 2%+ W 
lft 1% 

Hk 2* + % 
19 19 

9 9%+W 


47 2% 
593 1% 
3057 2* 

17,, « 
1276 
61 4ft 
26 4* 
189 9 
415 

M * 


4% 

4* + 


W 


Allan Ti 

AflGsLt 

AHPrm 

AudVId 

Aoll 

Autodv 

AutMed 

Autos V 

Autamfq 

AutaCp 

Avaton 

Avatncf 


Sates In Net 

tOlh High Low Last Oi'oe 

393 7% 7 7ft + ft 
1 H-2 169B31V 29V 30% + 1* 


2D 7V 7* 7ft + 
522 MU 13 13* — 

45 3W 3 3* + 

3010* ID 10V + 
1073 4V 3V 4ft + 


642101k 
14 2* 
167 *% 
23 SVk 
5 SW 


9'4 10* + IV 
2ft 2ft 
Aft 4% + ft 
5% 5ft 
5ft 5* 


B 


SGS 



192 AW 

6 

6* + 

W 

Uncord i 

1J2D 4J 

I99H 

21 

» 


BakrFn 

JOa 2J 

250 34W 

34% 




BatdLv 

m 

IJ 

2345 

44 




Ballek 



4515 

14* 

IS 



BncOpt 

S9D 

92 

7359* 

56* 


Bn Pane 

234 


<635 





BukoP 

IX 

AJ) 

16537 

36 


V 

BcOkl pf 

250 

1X9 

1823 

MV 

23 

+ 

% 

BnTx cv 

1.44 

II1A 

40713V 

13* 

13V + 


BkDetw 

2JB 

XI 

5256 

55 

56 

+ 1 


AW Be 



295 6 

5ft 

Sft— 

to 

AbkNt 



4614 V 

14V 

14V 


Alaten 

2J0 

AjD 

4237% 

36 

36 to — 

to 

Alcan wt 



S8 6W 

Ato 

Aft + 

ft 

Aldcm 



67 Aft 

6% 

Ato + 

% 

AlexEn 



87 3 

3 

3 


Allcoin 

JOa 

A 

5452 

52 

52 


AUSoas 



610 ■* 

7% 

Bto + 1% 

AlenOr 

48a IJ 

250 

90 

X 



AlltfCap 1J0O 49 

AlldRsh 

AllyGar 

AJoSchr 

Altalr 

Altmcr 

Altron 

Atm fid J7e u 
Amrtbc 1J2 SJ 
AmBUSP 

AmAaor XJ0 4j 
ABkCts JOd 19 
ACetlTI 

AConlPt 364 1SJ 


_ ... , imvotca • 

is ampayaMe la advance of rfw conference, and 
w ^in feB ferany^ cancellation ihoHspostmar- 

iSonorb^ene. February 15. Gj nasi lotions after tbot 

' ' ' " fee. 


orr (Country 


TELEPHONE 


42520* 19V 20* + IV 
196 3% 2% 2 Vi—Yt 
231 10ft 9W 10ft + ft 
1810 9* 7ft— V 

7 7ft 7ft 7ft 
2021 5% 5* 5% + % 

1168 1 1 9* 11 + 1* 

4* 4W «W 
2S23W 23 23*+ * 

135 6V 6ft 6W 

1825 24* 25 + * 

215* 15* 15* 

54 3* 3* 3* 
11423V 21ft 23 + IV 


AmEcol 



190513 

IB 

13 +3 




237 2ft 









AFnpfD 

UO 

11J 

8ft 

B* 

8%+to 

AFnptE 

UO 

IIJ 

Bft 

Bft 

Bft 

AFaatF 

UO 

1*J 

12* 

12W 

12* 


AFum 

AlndmF 

Alntogr 

AlnvLf 
A Land 
ALfxlun 
Am LI st 
AMdSv 
AMidl 
AMkOwt 
AMoolt 


83310 9W 10 + V 

1215% 15* 15% 

851 15* 13ft 15ft + 3 
31 4* 4* 6* 

191 7ft 6ft 7 + V 

4B2 ■% 6V 0 + lft 

146 6ft Sft 6ft + I 
23013V 13V 13V 
4542 .. j* £- 

3% 3% 


2657 Hi 
311 3% 


AMtHid 

ANalPt 

1.16 SJ 

5221 

567 


2m— 

+ 

% 









165 ID 

10 

10 


AmRaOT 


114 3* 

3* 

3* + 

V 




A 


ATrust 


73 5* 

5 

5% 



AWfitCP I 

Amhrst 

Amtslnr 

Arms* IJSg ZB 
Amtwlpt J2 SJ 
Amtr Pf 


66 4W 
5IBT9 
479 PA 


my 


21 - 1-85 


AndrGr 
Andrea 
Andrsln 
Artdovr 
AnsSA 
AngAG 3 
AptdDt 
ArabSii 
ArdM 
Artvaca 
AriiwI 
Arnold 
AntwB 
AstltO" 
AsaR un 
a sd Bcp 
. AssdCo 
I AsIrMO 
i Asircm 
J As Iron 
. AjIrJ, u n 
I AtlcoFn 


44 11J 


120 3W 
32 6% 
J6a 6J 136111 . 
Jfl 2J 1915 Bhi 
1111 3V 


JO 

2.D4 


76b 30 


4ft 4* + ft 
16V ISft + 2V 
7 7V + V 
2643* 41 43* + 3Kr 

8 5% S% 5% 

31 6 5% 6 + V 

7211% lift lift 

91 2% 2% 2* + 

J 

4* 

w 

3 

62 5% 5 

12714* M 

?9a 1% lft 

3411U lift lift 

13S29 28 28 — 1 

342 4? 42 

2364 8 6!3 8 + I* 

317 4»! 4 4* + * 

4125’.-! as* 23* 

22 5V 5V 5* * 'k 

237 7% 7 7% + %’ 

2S6 4* J'k 4'k + ' 

9? 8** B'i 8* 

14 13 13 

is S i 


Tfi + 

6* 

11 

BW + 
Sft + 
5* + 
14* + 

ift_ 


BkGfCBl 32 IJ 
BkLau 

BkMonS 360 96 
BkNHm L12 3J 
BkSou Mb 29 
Bnkeosl 1JB 4J 
BnfcFst 
BkrNto 

BTrSC I MO 3J 
BknrtiG JOa 4J 
Bklawa 1-56 18 
BkMAmPLH 11.9 
Barter 

Barden MO X3 
Barris 
BsTnB 
BasESc 
BlRlm t 
Bastn 


1017* 17* 17* 

215* IS* 15* 

36 36 36 

2030 M 30 
70323ft 23 23V + V 

19630 29 30 +1 

278 10W 10% I0W 
26 2V 2% 2V + W 
68336V 36* 36* 

13 13 13 

3441* 41* 41* 

121 21 31 

3 5V + 2U 
27* 30 
7W 9* + % 

Tfc \ + * 


Sales In Net 

100s High. Lour Last Ch'go 


697 6 
5330 
1847 7% 
12 9* 
598 1 
5445 V 
233 3 


,3% 2V— W 


BaukNo 

ASe 4J 

10* 

tow 

10W 

Bay Poc 


887 5* 

4ft 

5 + ft 

Bay Fdl 

.12o 10 

43 4 

4 

4 

Oeechm 

■Me X3 

IX 4% 

4to 

4ft -to 

Begley 

JB U 

XI5to 

15 

15 — W 

Beirw 

-loo U 

154 B 

7V 

8 + to 

BellPtr 


352 3 

2ft 

2ft— Ik 

Beheet 

i 

397 2V 

2ft 

2ft— to 

Ben hn im 


437W 

33* 

34 — 3W 

Berklne 

JB 49 

11410ft 

W 

■0% + Ik 

Berk Da 

200 10J 

31 X 

X 

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DOS 300 305 +5 


Bibbs 
BbioKa 
BtaMad 
BIMedun 
BkHTMt 
BfoTcC 

Blrai Pf MS 143 
BIrdvw 
Blrlchr 

BHca 60 3J 
Btoslus 

BlockD 1J0 X3 
Btomda 
BhrfdSP 
BIRdaun 
Blueskv 

Blwoar JSeiOJ 1191 


Bahama 

BaoteB 

BaonEI 

BaattiFs 

Bowatr 
8 ratty W 

Bralm a 

BrndiC 

BranK 

Bnmnor 

BrantB 

8 road F 

BrakHII 

BrpkrM 

BrwnRb 

Bruce Rb 

BckevF 

BufMe 

Burmh 

Bumps 

Bunit 

BurtH 

But If J 

ButtrMI 

Bund Id 

ByjrCs 


398 20V 30V 20ft + 

125 J* 3* 3* 

3ft 9V+ * 
4* Sft + ft 
13ft 13*+ V 
2* 24% + ft 
12% 11 
4* 5W+lh 
5* 5ft— ft 
9111* 11 11W+ W 

1% 6* 6ft Aft— ft 

730V X 30 — V 
701 3% 3V T»fc+ ft 
TJ 104220* 17% IBV + I 
00 12V 11* 12ft + % 
213 3W 2% +(k 


355 3V 
85 SV 
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107 5* 


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7% 


46412* 12* 13ft — 

360 7% 7V TV 
19S 6% 6ft 6%— 

JO IJ 12322% 22V 22* + 
J5e 2JJ 5282 2* 2W 3* 

-tOe J 39630ft 30 30ft + 
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JO 4J 14720V. 27* 28 + 

839 1% 1% 1% — 

7 7 7 

4912* 13 12* + 

451 4* 

630 8V 
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09 VW 
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133 9% 

33333* 

307 3 
U7B 7% 

39212% 10% 

340 % Jk 
11315% IS* l$W + tV 
34025% 25* 25% 

57 IV I* 1* 

133 2* 2% 3* + * 


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Jle J 
J6e 6J 


65 7J 


9b J* + * 

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8* 

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CalJkv 900 16 
CaJWtrs 260 13 
Calmar J79 A 
Caltnun 

Calumt 97i IJ 
CanoG W7 
Canon I .lie A 
Canma 

CapSwt .160 IJ 
CapBaa IJBa 4J 
CopTm J5o 5J 
Carlsba 
Caracas 

Carocln 

Cascade 160 3J 
ConllSw JOe 13 
Centbn c 
Centfm 

CnBkSy 60b 23 
CnJorBk T.I0 4J 
CnJorSw 
CnPacC 
CPacMn 
CnPaSv 
CRsvLI 
CWhBn 
Ceniurl 
CntyPa s 
Cenwll 
Cerdvn 
Certran 
OimpPI 
Chapral 

ciwpe « i jo ii j 

Choral f 

ChorOi 

ChortCp 1J1 3J 

ChrlFdl 

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ChathM J0O 4J 
Chattm 68 2M 
CbeezD ,10r 20 

Chet Int 

Owmtx 
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ClwsUts MO 66 


1225 
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23217 
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325 9 7% 8* + IW 

2415* IS* 15* 

129* 29 2V* + W 

IX 5V 4V 4V 
66 TV 7V 7% 

2 3* 3 3ft 
412 5ft 4ft 5ft + 1 
3643 42* 43 + W 

9* 9* 9* 

5513* 13* 13* 

7153 8 6V B 
10418ft IBV lift 
20324 2T% 24 + 2ft 

63 TV 9* 9V + 

302 5% 5% 5% 

1219 * % — 

450 10V 9* 10ft + V 

230 7% 7% 7% + W 

323* 23* 23W 
1819 1* % 1* +K 

24 10ft 10 IDft 
25 IT* 16% I6%— W 
74713% 13 13 — ft 

179 1% 1* 1% +R. 

146 5% 5% 5* 

167 W * * 

14810* 10 10W — 

58 7* 7* 7* + 

75 7 7 7 

3429ft 29* 29* — 

62 0 71k 8 + 

62610ft 10 10ft + 
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4917ft 17V 17ft 
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cbcdpa JOe 43 
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JOe IJ 


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51 A SW 5* 

480 7 6 4W+ * 

398 9W 8* 9ft + ft 
2824* 24 24ft 
47 6% 6 6% + % 

135915 12% 14* + IW 

MMJS 21 24% + 3% 

543 5* 4% 5* + % 

8518ft 18 18ft + ft 
,298 77 75* 77 + I* 

2253 13 lift 13 + 7% 

25813* 13% 13* 
25332ft 31 32 + 1 

TO TO » 

417* 17* 17* 

16 7 7 7 

1411* 10* 10W— 1 
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9-5 105523 20ft 23 + IV 

11 21330* 29W.-30WVT 
14 7V. . 7 7ft + V 

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539 7% 9V 9V+ W 
11 SV 5% 5% 

1 13 2ft 2% 2%— * 
141 7% 6% 6V— M> 
25714 13% 14 + 

98 3* 3% 3* — 

40316* 15ft 16* + 
2416W 16 T6W+ W 
9812% 12V 13V + W 
12727W 27 27* + 

91414ft 15* 16 V + 
7815* 15 15* + * 

406 7% A 7* + 1* 
3115 9* 7* BV + lft 
1032* 33 32* + 

21010ft 9ft 10ft + 1 
7A 4% Aft 4ft 
1111 9* M 

914* 14 M — W 
19649 45 48V + 3V 

29577 73 77 +4 

4515 15 Ij 

13139* 38 30 — IW 

7 Sft Sft SV 
1977 DU 8% B%+ ft 

23% 23% 23% 

11238W 37W »W+ 1 
AJi 168 II 10% 10V— ft 
N 22414* 13% 13ft— % 


Sales hi Net 

1009 High Low Last Oi'oe 


Cammed 

CookOt 

CareS Pf 

CohtSLf 

Courers 

Couroia 

CausfiH 

CousPs 

Covnol 

CradTr 

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122 4W 4 4 

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221 7ft 6% 7ft + V 
6733 1% * lS+% 

307 3* 3* 3*+ W 

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DefCon JO 
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24016 15ft 15V + W 
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tCtintinued on Page 131 


y 

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Sales In Net 

IQOs Hlgfl Law LfiSI CAM 

272 T5ft 141k 15ft+ ft 
link » a 
14J 47 17 ?8te 78ft 





INTERNATIONAL HERALD TRIBUNE, MONDAY. JANUARY 21, 1985 


f 

riiifflp 

n Exit 

hanw 1 


ions 

”c? o r 

For the Week Ending Jan. 18, 1984 



Page 13 


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lift X ft 9-14 r 

Dow Cn 25 r 4ft 1-14 

Wk ■ ft Ift Ift 

Xft 35 >•» ft r 

FEkrt! 8 4ft r r 

Sift M Ift r r 

Ford X IB 5 r 

47ft X 17ft « t 

47ft J6 7ft OH ft 

47ft 45 3ft 5 11-14 


47ft X 1ft 

47ft 55 Sit 

Gen El 45 15ft 

40ft 50 II 


40ft 45 ft 

GM0 45 r 

■Oft 8 U 

86ft 75 IV] 

aoft m aft 

soft #51 13-14 

G M 70 10ft 

80ft » 6 

■Oft * 29-16 

88ft 8 13-16 

Gfl «n 25 5 ft 

30ft 8 1ft 

30ft 8 S-16 

Hvttiri 10 r 

lift 15 ft 

ITT 8 lift 

31ft » 4ft 

31ft X 29-14 
31ft 8 11-14 

K marl 8 7ft 

37ft 8 3ft 

37ft 40 7-14 

Litton 60 9ft 
*8ft 65 4ft 
4BV> 70 1ft 
dOVj 75 r 

Lam* 90 r 

114ft 99 r 

Il4ft 18 lift 
114ft 110 r 

114ft IX 4ft 
MaryK ID 1 1-14 

10ft 15 ft 

IK Dan SO Sft 
55V, 55 Ift 

55V. 40 r 

MW SU 10 r 

13ft 15 1-16 

N C R X 8 
20ft 75 3ft 

■ft X 13-14 

NorSo SS 1ft 
<9ft tB 3ft 
43ft 45 1 7-11 

NarTel X r 
34ft 8 1 

34ft 40 ft 
34ft 8 1 1ft 

Kw ind 40 r 
52ft 45 7ft 
57ft SB 4 
93ft 8 11-14 
52ft 60 ft 
57ft 45 1-16 

ParoOv It Sft 
15ft 19 Ift 
19ft 20 i 
RCA » 17ft 
Xft 38 r 
36ft 8 7ft 

34ft 40 ft 
RaiPur X A. 
34ft 35 Ift 
34ft « r 
Revlon X 4ft 
33ft a i i-ift 

33ft 4 0 J-<* 

33ft 45 ft 
RMm 70 r 
Soar* 75 r 
33ft X 1ft 
33ft 8 ft 
13ft 8 1-16 

Sw Air X Ift 
23ft a ft 
supoii a ift 

Smlcn 44 r 
50ft 45 5ft 
50ft X 7ft 
50ft S5 ft 
Tihtro 8 5ft 
58ft 60 1ft 
50ft 45 ft 
To* jo aft 2ft 
Xft X ft 
»ft J3ft ft 
Toy! X 1 
Viacom 8 1ft 
WWMrt 8 7ft 
47ft SO 3ft 


II l-l4 r 

7ft ft ft 

4 17-16 Z'2 

ilk 5 r 

9 III 4 

r - r r 

r 5-14 r 

ite l'S r 


7ft 11-14 Ift 

IV. 79-16 3ft 
73-16 r ift 

Sft r r 

7ft ft i» 

9-14 r r 

3ft 1-U r 

1116 r 7V. 

s r S 

r Vk 5-14 

3ft 11-16 1 9-14 

1 9-14 4 r 

J'4 1-16 *6 

Ift ft 1 


17 r 
7V. Ift 


1-16 r 

ft r 

Ift Oft 


4ft 3-11 
19-1* r 


2ft 1ft 
13-16 r 


autos TAX free i INTERNATIONAL CLASSIFIED 


V Band 



619 evj 

7ft 

0*9 + ft 

VoaiRs 

7JMI3 4521 Ilk 

Tte 

Bte+tl 

VacDry 



75 4*9 

4 

0ft + ft 

VallAsc 



126 

25ft 25ft— ft 

Vallen 



4* 17ft 

77*9 

17ft + te 

ValvBcp 

1JX 

43 

MX 

26 

X 

VoJFro 

.10 

1J 

40 Sft 

Sft 

Sft 

V1NBCP 

100a 4J 

1242 

61 

62 -I- 1 

Votmnl 


25 

27821 

in* 27 +m 

Voltek 

J)4e 1J3 

212 6*k 

61* 

4te 

1/anShk 



28 H 

8*9 

4*9— te 

VartCr 

M 

* 

25 7te 

4ft 

7ft + te 

Varten 

AO 

AO 

13115ft 

1319 

is -f ite 

Vawtpun 



58 l*ki 

lte 

lte 

VedAut 



97 11* 

1 

1 

Velcro 

57 

23 

19239*9 

36ft 

39te+ 2*9 

Veto BO 



8115ft 

14ft 

15ft + 1 

ViFadl 



18812 

10ft 

12 + 1ft 

VtFnd 

1:20a ci 

2127*9 27 

37*9+ *9 

VersoT 

30 

1J 

IS 14 

15*9 

T a= 2 

Vlcnm 



355 3te 

2ft 

vldBn 

un 

4J 

14 Sft 

23 

23*4 + ft 

vidMtd 

.40) ZB 

2414*9 

14Ui 

14ft— ft 

VJrtDtap 



955 5 

4ft 

Aft 

VlrwVci 



59612ft 

12ft 

12ft 

Vo Been 

Me 

S 

457 1 

419 

8 + Ite 

VaFOt 



43 5ft 

5 

Sft + ft 

VWdRj 

Mo U 

2fl 

a 

a 

Vllram 

t 


19 eft 

0 

* — ft 

vortec 

.lJr 

u 

242 9 

0 

* + 1 

Vutttan 



5318 

174k 

17te— ft 

vvausls 



344 6te 

Sft 

Oft -0 lte 


EXCAUBUR 

AUTOMOMB 

are complexly hand-bub In America 
aid desaned after the 1939 M a r cedoj 
540k. Only 44 of it* 250 unit produc- 
tion For 1985 are being alocated 8 iho 
European and Middx East motel. 
New far 19B5 Nor Braa oniyl s a 
jpead Genera Motors 57 Lite V8 erv 


t 7-1* ft 
4ft Ift 7ft 
1ft 4ft r 


71k l-I* r 

Ift 9-i| 11-16 

15-16 1 ft r 

r r r 

Ift 1ft r 

ft r r 

J ft r 

2 1-1* 2 1-U r 

ft r r 


Ift Ml 
Ift 5-11 
Ift 7te 
te r 

Ift 5-1* 
Ift r 


4 ft r 

2ft 7ft r 

ft 5 r 

7ft 7ft 2ft 

3"« r r 

Ift 3-U v. 

5 11-14 1ft 

7V, 3ft r 

ft r r 


Total Vaium*: 53*445 
Oaen InteraJI 9.105,147 
r— Nat iroOta s — None oMereO. o— Ota 


SERVICES 


YOUNG LADY COMPANION. Lon- 
don/Heathnx*. Tel 244 7671 


(Continued From Back Page) 




AUTOS TAX FREE 


ROM STOCK 

Merudes 500 SL now, Hack 
Mercedes 500 SrC now. block 


SERVICES 



comparable to the Senftey Turbo but 
with a fkgher maamum yd there- 
fore ptope&ng tin nasbdgfc orustica 
with sporftcor ite performance. The 
bauc price darts around ISS60.D0Q 
and the speod equpmenr b enefless. A 
Monday loaded ng-.njbur E priaed 
$75-80,QCu F OB. New York whtdi in- 
dudes choice of adenor/iilanor colon 
and ophoriL Dehwv charges to find 
deEmahan at cad. Detvery anrem- 
maiety 8 waeks from order, wraa aBo- 
cation logs. Orders con be mxe pted 
urth a deposit of 25% and ihe baiaice 
payable at time of shipment. Far more 
xifamahai consult issue No. 12 of 
Symbol magazine, ovoijbte at Sofa 
floyae and fanari deders. orlheDe- 
cembar pubGcmion of Avanl Garde. To 
ploea an order oontoo the sale and 
adiiw ehtnbtMrsf 

EXCAUBUR MOTOR CAR 


Mercedes 500 SEC. now. black 
Mnrcedet 500 SL/S&/SEC. new 
md many others nc 
CnctDnr. Ferrari, Jaguar, Range Rmmr. 
Land Rover, Porscfe, Mercedes aid 
other leading mdtes. 

Sam day regdrafion poidte. 

KZKOVTTS 

□midendme 36. 04-8027 Zurich 
Teh 01/202 76 li Tele*; 81S7I5. 


TAX FB£ FEW MBCB3ES 

500 SB, SEC, SL, uu ntdkrte dekvery 
fill export service. 5me moneyl 
U a be tdnl il e wfnfesde priaKl 
Cdi Selection • ail expmetxnJ 
Selection teport-Eniert GmbH 
P.O. Bo* 1327, D3f»8 Syte. 

W. German* Tei ® 4243dCM5B, 
60459, 60450. Tlx: 24109. 


SERVICES 


PARIS PJL 

■UNGUM. YOUNG LADY 

PARIS: 520 97 95 


Young lody comporion. 069/43 57 61 

YOUNG HEGANT LADY TOKYO: 442 39 79 SWISS 
MUUBMGUAL MBS; S2S 11 01 ^ A 


ATHEN5. Lod* aviKanon and person- 
al anstonr. fet 8OT6I94 


HOLIDAYS & TRAVEL 



lcjufh cocat Kshng village. Groups 
from 2 to 12 dxre $200 to $600/ day. 
Ross & Moncut. Ross ASey. Aiexcsv 
drio. VA. 22314. Teh 703-549-5276 



NTERCORP EUROPE 
PRE5ENTS 

FOR IMMSXATE DELIVERY 
THE BEST CARS FROM EUROK 

TAX FREE MRCH3B BH4Z. 
PORSOC. FHLRAH, BJM.W. etc 

We Are Sp*adrr*d ei DOT A IPA 
Conve ni on, S hip p in g A bfri t eg 

JUST GIVE US A CAU. 

WE ARE SURE WE CAN 
YOU... 

INTHCORP EWOPE 

Wgh ftrfarmm A ut mn o h Rw 
56 Botrtendaan, EewRjowen. 

I U l jj id 

Tdb (0) 40-550065. Telex 59231 


TAX RS CARS 
P.CT. 

Larged Showroom ft inventory 

Al irxiej, a# modds, brand new 
l^erlaon 1, 2008 Antwerp, BeJffnxn 
Tel 3/231 59 DO 
Th 35540 PHCART B 
Apply for our colour catalogue 
US$5 cosh 



NEW MBUB2E5 RHD, TAX FK 

mart models tooMnr JUIQ, Teh 933 
76099. The 312242 MID HX 


'•5, 250 SB. blue with leather interv 
^hda^tor^Tel Antwerp, 


LEGAL SERVICES 





SERVICES 


YOUNG LADY 

PA/l m w p e to & Tounsm Gmdc 

PARIS 562 0587 



| XJdMoe 



190310*9 

14ft 

14 + 1ft 


Y Bear a 

.12 


32 Bte 

8 

BVk +V9 

York FO 

48 

Aa 

7410ft 

iov» 

1019 


ZiflNtl 

M 

4.9 

47613ft 

13ft 

ljft+ te 

Zvcod 



14301 1*9 



Zvoo 



204 7 

7 

7 


HONG KONG K-420000 Young Icdy 

lAsian/Westernj co mpa ni on. 


Place Your Classified Ad Quickly and Easily 

bi Hie 

INTERNATIONAL HERALD TRIBUNE 

By Phene: Call your local IHT representative with yout text. You 
wdl be mfomwd of die cost immediately, and once prepaymett a 
mode your od wil appear within 48 hours. * 

Cast: The basic rated $950 per ine per day + kxd taxes. There me 
25 lieners, signs and spaces m the first ine and 36 in the fallowing Snes. 
Minenum space is 2 Ina. No obbrawicXars accepied 
Credb Cade American Express Diner s Oub, Euraavd, Mourn 
Card, Access and Vda. 


Pan*; (For daorfied anly> 
747-4600. 

MROK 

Amsterdam: 26-36-15. 
Athens: 36! -8397/360-2421. 
BnneNs: 343-1899. 
Copenhagen: (01) 329440. 
Fnedrfcwt: (069) 72-67-55. 
Laustaine: 29-58-94. 

Lisbon: 67-27-93/66-2544 
London: (01) B36-4802. 
Madrid: 455-2891 /455G306. 
Mftcm: (02) 7531445. 
Norway: (03) 845545. 
Rome: 679-3437. 

Sweden: 08 104632. 

Tel Aviv: 03455 559. 
Vienna: Contact Frankfurt 




Bogota: 2129608 
B uenos Amok 41 40 31 
[Dept. 3121 
Caracas: 331454 
Guayaquil 431 943/431 
Lima: 417 852 
Poncen a. 64-4372 
Swi Jos* 22-1055 
Santiago: 6961 555 
5oo Paul*: 852 1893 

MIDDLE EAST 

Bahrain; 246303. 
Jordan: 25214 
Kuwait: 5614485. 

OataR 416535. 

Stadi Andria: 

JodcUr 667-1500. 
UAL: Dubai 224161. 

FAR EAST 

Bangkok: 390-96-57. 


Now York: (21 2) 752-3890. 


Hong Kong: 5420906. 
Mcmila: 8170749 
Seoul: 725 87 73. 
Si n g apor e. 222-2725. 
Taiwan: 752 44 25/9. 
Tokyo: 504-1925. 

AUSTRALIA 


Syd n ey: 929 56 39. 
M ete na m e . 6908733 


ESCORTS & GUIDES I ESCORTS A GUIDES I ESCORTS & GUIDES | ESCORTS & GUIDES I ESCORTS & GUIDES 


Consolidated Trading 
Of NYSE Louring 

Week ended Jan. 18 



INTERNATIONAL 

ESCORT 

SERVICE 

USA & WORLDWIDE 

Head office in New York 
330 W. 56ih St. N.Y.C 10019 USA 

212-765-7896 

212-765-7754 

MAJOR CRBXT CARDS AND 

aeexs ACCEPTED 
P rfvot* Meeibaihipi AvaScMe 

Tka award-win ni ng service bca 
been tedvred a Atopl mod 
axdurim Etcart Service by 
USA A tatamationd newi me* » 
Indw&ig rorfio aid TV. 


Podm-t Esmrt Aaennt ZURICH 
POrtW !?! -! SCO V. AgenCy SamoTtha'i Eacort A Guide Service 
67 9^° Teh 01/56 96 92 

London W1 

T*t 486 3724 or 486 1158 
AH oajw a*fi card* acceptod 

★ ZURICH* 

GINGBra ESCORT SBtVKE. 
TEL 01/363 08 64 


CM3SEA ESCORT oxwirc 
51 Sewdiomp Plaffl, London 5W3. 
T*fc 01 584 6513/2/49 (4-12 pH 


STUTTGART -PRIVATE Escort itm. 
Teh 071 1/2621)58 


VBMA - DcailSIVI Ekxw ServuB. 
Teh 47-74-61. 



Guide Senrico. Tel: 283 397. 


BRUSSB5 MtCHBU ESCORT AND KARBt - RANKFURT BOOST Ser- 
GUBE sarVKZ. THi 733 07 98 «*. Tel: 069/88 62 88 


Treasury Bills 



REGENCY 

WORiDWM MULTUMGUAL 
■ escort savin 

NEW YORK OFFICE 

Tat 212-838-8027 
A 212-753-1864 


* USA ft TRANSWORLD 

A-AMERICAN 

ESCORT SBVIO. 

EVERYWH08 YOU ATE 08 GOL. 

1-813-921-7946 

Ct* free from US.- 1 -SO-237-0892 
Cdl free From Rcxria l«0-282-C892 
Lowe!! Eastern wdeemes you back! 


CAPRICE 

ESCORT 5® VICE 
IN NEW YORK 


Tel: 736 5877. 


LONDON 

BEST ESCORT SERVICE 
TEL: 200 8585 


LONDON 




ESCORT SERVICE 

10 KENSINGTON CHURCH ST, W8 
TH; 9379136 OR 937 91& 
AH aa|or mcR emb a ccep te d. 


ARISTOCATS 

London Escort Service 

128 Wipaore 5t x London W,1. 
All moior Crafi Cmds Accepted 
• Tefe 437 47 41 / 4742 
12 naan • mkjniQf u 


LA VENTURA 

NEW YORK E5CORT SBnnCE 
212-888-1666 


MAKDA1E INTERNATIONAL 
MALE ESCORT AG84CY 

Tab 938 1647. 


ZURICH 

CAROU9E BCORT «VKE. 

Teh 01/2S2 61 74 


MADRID APPLE 


1EL 2503496. CRBXT CARDS. 


* MADRID * 

TASTE BCORT S9VKE 
Teh 4117257 - 4117602 


SHE- AMSTBtDAM 
Escort Service. 227837 


GENEVA ESCORT 

SERVICE Tel: 46 09 28 


GENEVA * BEAUTY* 
ESCORT SGTVKE 
IB: 29 51 30 


ROME CLUB EUROPE ESCORT 
& Guide Service. Tah 06/39 Z6CH- 589 
1146 (from 4 pm to 10 pm) 


GSEV A - HSBC ESCORT SBIVKE 
Tab 36 29 32 


A h 


ESCORT SHVfCE 020-W6A55 

( 

To 

fcUSS SCAMXNAV1A 

jpenhapen Escort 5ervtco 
i. 01 -56 17 06, oedt ani* 



TR: 212-737 3291. * MADRID * 


ZURICH 

ALEXIS BCORT SBVlCE 
THi 01/47 55 87. 


NTl BCORT SERVICE 
THj 2456548 CRBXT CASK 


WANKRIRT + SURROUWXNGS. 

coroiiwjj Escort L travel jennee. 
Enphth Freceh. German spoken Td. 
(Oc?) 43 57 a3. 


MIAJAL R USA 

EXCLUSIVE BCC3RT SMCE 
Box 520554 Mrara, FI 33152 


GENEVA -BBT 
BCORT SERVICE 
TeL- 022/29,13.74 


MUMCH fCBn &mrr + Gwfc 
SermoB. Teh 089/4486038 


DUE5SBDORF/ COLOGNE. Escort & 
Guda Service. 7335309 or 3043W 


bOWON MA1E ESCORT SERVICE. 

Tef. 385 94 76. 


ITT^T 


LWJt BCORT service. Heoihtow' 
Garwick. London areas. 0895-44815? 


AAWJRDAALOA55 Escort Sennca. 
Tel: (0) 20-198758 


FRAMCWRr AREA TANJA 1 . Exon 
8 Travel Serytoe. 0 (fit a 84 33 


"“-Iri kTTi T 


AMSTBfflAM FOB ROSES Esart 
Semite (01 20-964376 


FRANKFURT SONJA BCORT Ser- 
« ol Teh 069-68 34 42 


FRANKHJRT “TOP TBT Escort Ser- 
mce. 069/59-60-52 . 


FRANKHJRT JENNY BCORT + trav- 
el tenia). T«h 069/55-72-10 


VIENNA OfOPATSA Escort Serve*. 

Teh 52 73 88. 


FRANKRJRT + SURROUNDINGS 
■Christina s Escort Sew*. 069/364666 


LONDON LUCY ESCORT & Guide 
Service. Teh 01-373 02U 


MUNCH. PRIVATE Escort Service. 
Teh 91 81 32 or 91 2314. 


SANDRA'S ESCORT 5ERVKX. Front, 
fun Teh 069/55 88 26 


WW1E STAR BXOKTSeniat Manx*. 
Tet 089/3598914. 


DUES5ELDORF - PENTHOUSE Eicon 
Serves. 0211/49 97 84 


DOMJNA JADE GENEVA Escort 5er- 
vrte. Tel: 022 / 31 26 71 


FRANKFURT - ANNFi Escort Serve* 
Teh 069 / 28-81-03. 


LOMWN BARBS ESCORT Semce. 
Heodirow/Gotvyid. Td 624 9844. 




MADRffi IMPACT BCORT & Gtede 
Senea. MuMi^uol. 261 41 42 


HOiiAN D-ja BCORT SBTV1CE. 020- 
222785. 030-944530. 02997^685. 


LONDON TRUOffi BCORT Seruiee. 
Tet 01-373 8949. 


LONDON GENE ESCORT Senna. 
Tel: 370 7151. 


V1&INA VIP BCORT SStVia. Tel 

Mtriftl 45 41 Se 


































































































































Page 14 


15 !! 1!!5 ■■■■« 

3555 

isgsar-ip® 

isai s 3sss & --» a 

HBBB ™!i aa aim 


waaiiiiHiiii" 

nu 

a ! 5 ! B HBBB hmi 

;■ Btt ■■ Xtt r timh 


ACROSS 
1 Joke 

5 LA. plague 
9 Censor 
UArmbooe 


42 Civil 

43 Command re 

an option 

49 Incarnation 
3® Bolivian 


13 Kind of boat or w??? 1 


14 Prefix lor 
stock or horn 
M Memorable 
name in 

fn«Wnn 

17 Knowledge, for 
short 
UThrust 
19 Gape 
23 Turn right 

21 Peelers 

22 Command re 
an option 

25 Semihard. 


M Full of 
grooves, as a 


35 Small lake 
58 Adolescent 
57 Certain Swiss 


27 Mine product 

28 Oriental 
muses 

29 Adages 

31 German earth. 
35 Command re 
an option 

38 Chemical 

miffhrgs 

39 French ones 
49 One who ties 


58 Three wise 
men 

59 Author 
Bagnold 

88 Schedule abbr. 

81 Dele’s opposite 

«2W.W.Hiown 

DOWN 

1 Punch's 
partner 

2 Lamb 

3 Raindrop's 
cousin 

4 Discolors 

5 Insult 

B Actor from 
N.Y.C.: 1939-78 

7 Bid 

8 Earthy prefix 

9 Words on a 
book jacket 


10 Asphyxia 

11 Pnlaof silents 

14 Winged 

15 Aerie 

21 Pocketbook 

23 Mexican's 
enthusiastic 
affirmative 

24 Monks' hoods 

25 London gallery 

26" Old 

Cowhand" 

29 Radar's kin 
39 Exist 

31 Rates 

32 Donee 

33 Regimen 

34 To be, in Lyon 
39 Private 

instructor 
37 ‘‘Thanks 
1" 

41 Neuters 

42 Critic 

43 Urban oasis 

44 Palate section 

45 Spud 
48 Speak 

47 Ermine in 
summer 

48 Fastener 

52 Armstrong or 
Diamond 

53 Ruin 

53 Aft. periods 


41 Stop on the RR book jacket 55 Aftp® 

® New York Tones, edited by Eugene Mulatto. 

DENNIS THE MENACE 



‘Son OIDTOHO 03UWSHEEP ! 

INtWT OWES AFTER ELEVENTEEN! 


eJ'Tj THAT SCRAMBLED WORD GAME 

PlJ by H«nn AmoW ana BoO Lee 


Unscramble these four Jumbles, 
one letter lo eadi square. Jo form 
tour ordinary wonts. 


LUDGI 


YARAR 


YURJJN 


PROAND 




WHAT HE CALLEC? I 
THOSE PEOPLE WHO I 
ACQUITTED HI M. J 

Now arrange the carded letters lo 
lorm the surprise answer, as sug- 
gested by on above cartoon. 


(Answers tomorrow) 

Jumbles CHAOS MANLY WEEVIL REPUGE 

Answer. What some so-called "good buys" in Wall 
Street often turn out to oe— -1 FAREWELLS" 


WEATHER 


EUROPE 


M1QH LOW 
C F C F 
16 61 IS St o 


-4 25 -13 * to 
<6 25 -10 14 e 


Onto Del Sol 16 41 13 96 d 

Mrito 5 41 1 34 r 

EdWmnA B 32 -1 30 d 

norwra I 46 0 50 0 

mnUUrf -J 30 O » sw 

OHM 1 34 -7 19 O 

Helsinki -a 0 -34 ■« «w 

utaoUl I 46 6 43 a 

immmo* H Si 12 51 d 

Ustaon TS 3V 12 54 p 

London 1 38 0 H e 

Madrid 3 41 2 X to 

Milan 2 36 0 32 to 


HIGH , LOW 
C F C F 

30 U 22 71 ft 

1 34 0 32 fr 


Paris 

Proem 

RtvKiavflk 


Horn KOM 

19 

46 

IS 

59 

Ktoaito 

30 

06 

25 

77 

NmlMkl 

« 

64 

0 

44 

stool 

■3 

26 

■7 

19 

a— toil 

S 

46 

■1 

X 


31 

08 

24 

75 

TUtosJ 

23 

a 

14 

57 

TUwo 

11 

32 

4 

X 

AFRICA 

Alston 

20 

60 

7 

45 

Calm 

» 

41 

9 

48 


30 

M 

IB 

44 


17 

63 

13 

SS 

Harm 

27 

>1 

17 

63 


X 

06 

» 

UZ 

Mol ratal 

27 

■1 

17 

63 

Tonta 

12 

54 

5 

41 

LATIN AMERICA 


BOMMAlrtl 

27 

01 

17 

63 

Urns 

23 

77 

17 

63 

MmeoaiY 

23 

73 

4 

39 

RJodtJtttlra 

27 

II 

17 

63 

sm Panto 

— 

— 

— 

— 


2 21 *” J? 5? WORTH AMERICA 

khm W S | ■ r Aeawn a w 1 X -2 a cl 

nottMtn ■* £ "ll 12 ** Attoeto <4 25 4 IB d 

g r u ttoero S 5 "2 2 0 ***** ■» 14 -10 14. d 

VMce CMomo ■» -8 -36 -15 lr 

VIhm ■* 1 ‘™ S ■ Owwar -7 19 .11 12 » 

WmtaW *? K ■? 1* fr Detroit -16 3 -22 -a SW 

Zorie* l 34 -1 » o Hoaototo 26 79 ry 43 fr 

umni e PAC T Hoostoa -2 28 -4 23 et 

MIDDLE PMbL Ini A— loi 17 63 12 54 DC 

ABkM 3 * ■* 25 r Miami 21 70 14 S3 pc 

\g 64 T1 n fr MtoRHKUS -23 -10 -04 -3) d 


•tomato* 

TWAvto 

OCEANIA 


11 52 2 X tr MOBtrml 

IS Jt 4 39 IT Mom 

58 41 4 43 fr tow Yah 


OCEANIA Mattie 6 43 2 36 d 

— a is 17 63 fr Tomato -5 23 -10 14 d 

5322^ 5 n If 66 d WttMnttm -10 14-n 0 *W 

riSaudiri totooovi IWolri WtoO.* fromrewt: poportty deuer; wotoi 
SSSwerst tew i o-oerm. 


MOBtrml -12 11-15 5 sw 

Hama » 04 10 64 r 

NswYorfc -IB 34 -32 10 sw 

San Frenches ll S 6 43 d 

Mattie 6 43 2 36 d 

Toronto -5 23 -10 14 d 

WUMnete* -10 14 -ii o sw 


INTERNATIONAL HERALD TRIBUNE, MONDAY, JANUARY 21, 1985 



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I HOPE 
SO, 

KENNY/ 


By Louise Erdrich. 272 pp. $13.95. 

Holt Rinehart & Winston, 

521 Fifth Avenue, 

New York, N. Y. 10175. 

Reviewed by D. J. R. Bruckner 

T HERE are ai least a dozen of the many 
vividly drawn people in this first novel who 


will not leave the mind once they are let in. 
Their power comes From Louise Erdrich's mas- 
tery of words. Nobody really wits the way they 

do. but the language of each convinces you you 
have beard them speaking all your life, and 
that illusion draws you quickly into their 
world, a place of poor shacks stuck amid the 
wrecks of old cars and other junk made beauii- . 
fid in Erdrich's evocation. 

The voice of the narrator intervenes only a 
few times in the novcL Otherwise, seven char- 
acters tell theirs and one another's stones at 
different times of their lives; many of their 
tales have the structure and lyric voice of 
ballads. Erdrich is a skilled poet and the voices 
she creates in her novel are distinct; it is when 
they quote one another that her art shows 
(once in a while she is a bit too clever), and 
when they make random remarks to one anoth- 
ar the way members of a family do. the reader 
cannot quite remember what lie was told that 
makes him understand them. 

A woman driving into an Indian reservation, 
notices that “small hills reared up. Dogs leaped 
from nowhere and ran themselves out fierce- 
ly-" A giri, -recalling that the joy of Sunday 
Mass for her and her brother came not from 
the Mass but from being able to go to it in the 
town nearby, the place of their desires, says 
“our soul went cheap." A nun’s nose “stuck out 
far and made the place her eyes moved even 
deeper, as if she stared out the wrong end of a 
gun barreL" A jealous woman “was bustling 
about the kitchen in a calm, automatic frenzy. 
She seemed to fill pots with food by pointing at 
them and take things from the oven that she’d 
never put in." 

Their world is the Dakotas where Erdrich 
grew up, and the characters are mostly Chippe- 
wa Indians or, like the author, a mixture of 
European and Chippewa descent. But Erdrich 
is not out scouting Indians. Their culture and 
beliefs are in the background but it is with real 


Solution to Friday's Puzzle 


BOBESn □□□□□ 

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egheq aaa aauaa 
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bed HHaaaaa aan 
□Bnaaaa □□□□□□□ 
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surprise that one rook* ««iually dw these 
are different. . 

At the outset a woman who has been having 
i b ««i sets out io walk back to her 
a fling m m a blizzard cm the wav. 

rtS 5? w V?S^nieceL‘i telling of a family gather- 
Suddenly her ruwr l comically mean 

from a mm who was hot 
JSSTnf the devil, but she has survived 

death, adventure, tragedy and hope tn whar all 
bS a few of them see as live* without rate, 
destiny or providence. 

Almost everyone in “Love 
luted to evervone else. It would lake genealo- 
gists or canon lawyers to irack theconsanpm- 
ity, but the blood ue is essential to ihe 
transformation of their tawdry stones fran 
roadhouse tragedies into legends. Manv are 
familiar legends, including the one that leads 
to the novel's climax — a young man s search 
for his real father, which involves his painful 
recognition of who his real mother was. tr- 
drich’s confident use of such legends is canny; 
her strange and sometimes wild characters are 
on quests we all know - , from the past and from 
deep inside ourselves. 

Every detail in this novel counts and eventu- 
ally they all come together. The man who 
throws himself on the girl fleeing the convent is 
carrying wild geese he has shot, birds that play 
a comic role in his awkward lovemaking. Tne 
hearts of wild geese are love medicines to these 
Indians. When that suddenly-joined couple s 
grandson tries to reconcile them with the same 
medicine 50 years later the geese won't cooper- 
ate and what he substitutes for their harts 
proves fatal to his grandfather. But his account 
of the incident makes one laugh out loud. 
There is a lot of honest laughter here, and most 
of it comes at just such moments; one laughs 
and blushes for iL 

In the end the troubling emotions Erdrich 
has drawn from one also come together in two 
great reconciliations. Two old women, one who 
hart eight children by eight fathers and the 
other, the girl who ned the convent, whose 
husband was one of those fathers and whose 
own family had swelled with uncounted or- 
phans and castaways, come to an understand- 
ing of one another’s lifetime loves that defeats 
words but goes right to the heart. And the 
young man finds his father in a place of terror 
from which they escape in a bright red car with 
blue wings painted on the hood (cars ore real 
characters in this novel; they reveal'd lot about 
the souls of people), taking a journey Po under- 
standing that puts one in mind of the Cutes or 
the poet John Wieners: 

“The beauty of men never dies / It driven a 
blue car through the stars." \ 


D.J.R. Bruckner is on the staff of The Net* \ 
York Times. 




GARFIELD 



HEV/GWEMY 1 
NAPKIN BACK/, 



SMILE WHEN 
YOO SPEAK TO 
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FELLA /J 




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1985 LkttBd Fan tun SyndKMeJnc. 


tfflyv flvws (-2.1 


By Alan Tiuscoft 

/~\N the diagramed deal the 
v/ reader should cover the 
East-West hands and plan the 
play in four hearts after the 
opening lead of the diamond 
queen. 

The North-South bidding, 
included a specialized bid. 
Three spades, which has no 
natural meaning, indicated a 
hand containing a dub suit 
that was strong enoug h to ac- 
cept the game invitation. 

Since East would have dou- 
bled three spades with length 
and strength in that suit. West 
made a well-judged lead of the 
diamond queen. South won 
with the ace, crossed to the 


BRIDGE 


dummy in . dubs and ran the 
heart jack. He was quite pre- 
pared to lose a trick in hearts, 
and diamonds, but he 
was shipwrekeed by the actual 
distribntion. 

West won with the queen 
and led bis remaining dia- 
mond. East took the jack with 
the king, cashed the spade ace 
and led another diamond. This 
promoted his partner’s heart 
nine as the setting trick. 

In the post-monem. South 
discovered that there was a 
winning {toy to cover all even- 
tualities after both opponents 
followed to one round of 
tiumps: lead a low trump. 
Whether at not West lakes his 
queen, he. can take only one 


trump trick, and other distri- 
butions are easily dealt with. 


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SPORTS BRIEFS 


Celtic Loss 


Cycling Coach Suspended for Blood-Doping Puts 76 crS 

COLORADO SPRINGS (A P) — Hie U.S. Cycling Federation has suspended 
Eddie Borysewicz, coach of the team that won nine medals at the 1984 Summer , I 1 n|- Plo/»/v 
Olympics, for 30 days for his alleged involvement in controversial blood-doping J-l I XSi X IdCt? 


fflSBSP* 


COLORADO SPRINGS (A P) — The U.S. Cycling Federation has suspended 
Eddie Borysewicz. coach of the team that won nine medals at the 1984 Summer 
Olympics, for 30 days for his alleged involvement in controversial blood-doping 
procedures. 

A spokesman on Friday said Borysewicz, who said he would consult a lawyer, 
was suspended without pay and given a letter of reprimand and will be denied a 
salary review for six months. Ed Burke, head of the Elite Athlete Program, received 
the same penalties as Borysewicz, and Mike Fraysse was removed as chairman of 
the competition committee and asked to resign as the federation’s first vice 
president 

The. federation cleared all cyclists of wrongdoing, and enacted legislation 
prohibiting Wood-doping, in which a quantity of blood is removed from an athlete 
several months before a competition. White cells are extracted from the blood and it 
is reinjected into the athlete shortly before competition to increase stamina by 
raising his level of oxygen-producing red blood cells. 

David Prouty, executive director of the federation, confirmed that some U.S. 
Olympic cyclists received transfuskms, but said nothing they did “should be 
considered to have tainted any medals." Such transfuskms violate U.S. Olympic 
Committee policy, but are not illegal under International Olympic Committee 
rules. 

Tewell Leads Phoenix Golf as Peete Falters 

PHOENIX Arizona (AP) — Doug Tewdl took advantage of Calvin Peete’s 
collapse with a 6-under-par 65 that carried him from six shots back and into a two- 
stroke lead after Saturday's third round of the Phoenix Open golf tournament 

Tewdl 35, whose only two PGA tour triumphs came in 1980, had eight birdies 
and rallied from a doubfe-bogey to register birdies on the three dosing holes. He is 
J3-under at 200 for three rounds over the 6,726-yard Phomix Country Club course: 

Peete, who had led by five shots after 36 holes, made his first bogeys of the 
tournament — four erf them — and had to work hard for a one-over 72 that left him 
tied for second at 202 with Morris Hatalsky, who shot a 66 with a scrambling back 
nine. Peete wiped his eyes repeatedly during the round, told tournament officials he 
was having difficulty with tus contact loses and saw an optometrist 

Isao Aoki of Japan was next at 203, followed by Ed Fiori at 205. 

East Germans Take Two-Man Bobsled Title 

CERVINIA. Italy (UPD — East German double Olympic champions Wolf g an g 
Hoppe and brakeman Dieter Schauerhammer nailed down their second straight 
two-man bobsled title withapairof record setting nms at the world championships 
toe Sunday. # # 

The pair took the East Germany 1 sled to a winning aggregate time of 4:18.72 
minutes for four runs over two days of competition at Gemma's 1 j kilometer Lac 
Bleu course, which drops 1 42 meters (466 feet). The winners docked Sunday nms of 
1:04.39 and 1:04.1 1, lowering the new Lac Bleu course record of 1:04.64 they set 
officially during competition Saturday. 

East Germany 11, driven by Detlef Richter with brakeman Steffen Grummt, 
finished second in 4:19.76. more than a second behind Soviet Union 1 placed a 
distant third in 4:22:37. Fourth was Switzerland II (4:22.53). trailed by sister sled 
Switzerland I (422.72). 




■'ties * * , V-- * 


The Associated Press 

INDIAN APOUS — The de- 
fease was the big key,” Indiana 
Coach George Irvine said after the 
Pacers handled Boston 91-86, 
snapping a seven-game Celtics win- 

NBA FOCUS 

□ing streak and knocking Boston 
out of a tie with Philadelphia for 
first place in the Atlantic Division 
of the National Basketball Associa- 
tion. 

“We didn't run as much as we 
would have liked, but we executed 
weD off the break,” Irvine said after 
Friday night’s victory in which be 
had special praise for 6-foot-ll 
power forward Herb WQGams, who 
scored 27 points. 

The coach called W illiams “the 
best basketball player in the league 
in getting back on defense.” _ 

Elsewhere it was Atlanta 104, 
Seattle 90; Milwaukee 102, New 
Jersey 93; Houston 112, Phoenix 
101; Denver 108, Washington 106; 
Utah 127, Portland 122, and the 
Los Angeles Lakers 1 10, Dallas 92. 

On Saturday it was Detroit 109, 
New Jersey 107; New York 88, At- 
lanta 86; Indiana 1 10, Chicago 
107; Seattle 106, Cleveland 105; 
Kansas City 103, Washington 98; 
Houston 120, Utah 95; San Anto- 
nio 106, Phoenix 100; Dallas 101, 
the Los Angeles Qippos 100; Den- 
ver 123, Portland 120 and the Los 
Angeles Lakers 139, Golden State 
109. 

The Critics* record dropped to 
33-7, putting them a half-game be- 
hind Philadelphia in the Atlantic 
Division. By also winning on Satur- 
day. Indiana has taken three of its 
last eight and raised its record- to 
13-27. 




With 1:23 left 
Rick Vrtive (i 


Perry Anderson of tibe Bhies 


- V.\, 


*«*w/Uni«rt Am Mamemnd 
uis, a fight between the Leaf s’ 
sparked a 10-minute bench- 
MDntofinshedoff its 6-1 rout 


OUers Find Old Way to Beat Cctnucks 


La Angeles Tima Service 

EDMONTON, Alberta — The 
Edmonton Oilers rediscovered the 
way to beat Vancouver here Satur- 
day night and pat an end, at least 

NHL FOCUS 

temporarily, to their problems with 
the Canucks. All they had to do 
was score seven goals. 

Vancouver, with the nert-u>-the 
worn record in tire National Hock- 
ey League, was unbeaten in their 
previous four games against the 
Stanley Cup champions. Winners 
of only 11 of 47 games, the Ca- 
nucks have beaten the Oilers twice 
this year, and Edmonton hashed to 
dig hard twice to gain ties. 

Friday night in Vancouver, for 
example, Willi Lindstrom and Jari 
Kum scored in the third period to 


wipeout a two-goal deficit and pull 
the Oilers into a 4-4 deadlock. It 
was a far cry from the first two 
meetings between the Smyihe Divi- 
sion rivals. In those games the Oil- 
ers smashed the Canucks, 7-0, each 
time. 

Elsewhere Friday it was the New 
York Raqgerx 9, New Jersey 6- 
Buffalo 4, Chicago 3, and Sl Louis 
6, Winnipeg 2. On Saturday it was 
Quebec 4, Boston 3; Buffalo 1 
Hanford 0; Washington 7, the New 
York Rangers 1; Winnipeg 8, De- 
hoit 5; New Jersey 4, Montreal 4; 
Pittsburgh 5, Chica2o4; Toronto 6. 
Sl Louis 1; Philadelphia 4, Minn *, 
sola 1, and Las Angeles 6, the New 
York Islanders 5. 

In the home-leg game the Oilers 
didn t get their shutouL but they 
did score seven goals in sealing for 


a 7-5 victory. Kuni, just getting 
back in form after missing three 
genres with a bade injury, scored 
twice and Wayne Gretzky had a 
goal and three assists. 

Ending the Canucks' string of 
successes against them wasn't all 
that easy for the Oilers. Edmonton, 
which gave up two gnafc during a 
string of nearly 15 minutes when it 
was at a manpower disadvantage, 
scored a short-handed goal inthe 
second period and clicked on two 
power plays in the final period. 

Defenseman Kevin Lowe, who 
drew a five-minute major for slash- 
ing Thomas Gindin, scored the de- 
cisive goal in the last period on the 
Oilers’ first power-play opportuni- 
ty- Gretzky's goaf was his 47th of 
the season. Rum has 44 in die 43 . 
games he has played. 


:j3»tawsT- x 





INTERNATIONAL HERALD TRIBUNE, MONDAY, JANUARY 21, 1985 


Page IS 


SPORTS 


- 'H, 

', :7r, W „ 

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P . 


... 


VANTAGE POINT/ ira Berkow 


•vife'SSk 


Supe’s On: The Big One’s Three ’Isms’ 


: . ^ 

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L. 


l. T>.-, • 
- • .. 


■ ^ 


Atom >’«A Times Service 

SAN FRANICSCO —The Su- 
per Bowls have been serious stuff, 
ai least since the eve of Supe I. It 
was then that (he only somewhat 
vincible Vince Lombardi warned 
his troops: “On Sunday, there wfl] 
be no brother-in-lawing.” 

The no-nonsense Super Bowls 
have grown in fat Roman numerals 
from that first Green Bay-Kansas 
Gty battle until they now total 
XIX exactly XVII more than the 
World Wan that have taken place. 

The game fell, as always, on Su- 
per Sunday, or. Super Sabbath. On 
this year's holiest of days on the 
sports calendar, it was expected 
that a full house of 84,804 at Stan- 
ford Stadium would join some 120 
million television viewers — about 
half the nation — for the 49er- 
Dolphin confrontation. In a little 
less than two decades, the Super 
Bowl has emerged as one of our 
most glorious events, second only, 
perhaps, to an opening of a new 
McDonald's. 

It is more than a football game, 
it is bigger than that. It is a time 
given for reflection upon our na- 
tional values, and outwardly it 
combines three of our most essen- 
tia! “isms" — patriotism, milita- 
rism and commercialism. 

The game is replete with red- 
whiLe- and- blue flags, with bright 
yellow brass bullous and tubas, 
and with stacks of greea legal 
lender. 

The American Broadcasting Co. 
was paying the National Football 
League $15 million to televise the 
event. ABC, so as not to be caught 
short, was charging 5! million a 
minute for advertising time. There 
were to be 25 minutes of advertis- 
ing during the game itself — that's 
$25 million, for starters — plus 
many more minutes on the three 
hours of pregame and postgame 
and half-time shows. 

Militarism is always a cuddly 
pan of football, and never more so 
than at Super Bowl time. 

Just before Sunday's clash, to get 
all our juices flowing, four F-15 
Eagle fighters were to streak over 
the stadium. Then at halftime, the 
U.S. Air Force — not all of it, but a 
lot of it was to put on a 12- 
minute extravaganza. 

Through the years the Super 
Bow l has often been tied to various 
forms of militarism, beyond the 
normal business of defenses' en- 
gaging in blitzes and offenses’ in 
dropping bombs. The most memo- 


rable was Supe IV, when the half- 
time consisted of the Battle of New 
Orleans, Pan II. It was an instant 
replay of sorts, perhaps not quite 
the way Andrew Jackson, the origi- 
nal hero of the battle, saw it, but 
moving nonetheless. Musket-bear- 
ing individuals clad in period cos- 
tumes waged a skirmish on the 
gridiron. 

It was an ear-splitting and some- 
times side-splitting display with the 
mode soldiers falling in 'battle to 
the soggy turf . 

When Supe 1 was played, in 
1967, it was not quite the national 
institution it would one day blos- 


som into. In fact. President John- 
son, unlike the men in his office 
afterward, made no big thing of it. 
But then Johnson wasn't much of a 
sports bug. In fact, when the prince 
and princess of Laos visited Palo 
Alto — coincidentally the town 
where Supe XIX is taking place — 
he advised them against going to a 
Stanford football game there. 

Johnson admitted that college 
football was a great spectacle but. 
he said: “I'm not sure it gives an 
accurate picture of America. To see 
some of our best-educated boys 
spending an afternoon knocking 
each other down — while thou- 



sands cheer them on —hardly gives 
a picture of a peace-loving nation." 

Future presidents would not 
bother with such quibbles, and 
Presidents Nixon. Ford, and Rea- 
gan, in particular, seemed to derive 
pleasure from (he political associa- 
tions with the professional football 
players on (heir great day. 

Once presidents were content to 
make a phone call to the winning 
coach or quarterback. Now. Presi- 
dent Reagan's agents, in an effort 
to avoid publicity for their chief, 

requested that he also flip the coin 
before Sunday's game. The NFL 
gladly granted it and the televised 
coin flip from Washington will de- 
cide the team kicking off and will 
be witnessed across the nation and 
also on the stadium’s Diamond Vi- 
sion. 

Apparently, Nixon, a sports fan 
to the core and understanding the 
political benefit, began the While 
House involvement with the Super 
Bowl. He called Coach Hank Stram 
and the quarterback Len Dawson 
after Kansas City’s victory in Supe 
IV. in 1970. 

Then the chief of state grew espe- 
cially bold and before Supe VI, in 
1972. he called the Miami coach, 
Don Shula. with a play. It was an 
inspiration that came to him in bed 
late at night, and he just had to tell 
Shula. The scene was remindful of 
how Coleridge awoke from a deep 
dream of peace and began feverisb- 
Iv composing his immortal poem 
“Kubla Khan." 

Nixon didn’t have quite the good 
fortune in this respect that the En- 
glish bard did. Shula used the play 
Nixon suggested, a down-and-in 
pass pattern from Bob Griese to 
Pad Warfield The pass was in- 
complete. but that was better than 
the result of a play Nixon had sug- 
gested earlier in the season to 
George Allen, the Redskin coach. 
That one yidded a 13-yard loss. 

This time. Super Sunday would 
include the XLln president of the 
United Slates flipping the coin be- 
fore the Air Force strutted its stuff 
— and before a childrens' choir, 
composed of 300 voices and ac- 
companied by 1.500 students from 
1.300 northern California march- 
ing bands — sang the national an- 
them as they all formed a giant 
American flag beween the 20-yard 
lines. 

Again, patriotic, military, com- 
mercial; again no-nonsense. And, 
happily at last again a football 
game. 



Figini Has Cup Lead 
On Downhill Victory 


fa/ton 


Winner Peter Wimsfoefger in Wengen, Switzerland: ‘Baffled.’ 


United Press hmnunantf 

MEG EVE, France — Michel a 
Figini of Switzerland sped through 
a bumpy, treacherous course here 
Sunday to win her third consecu- 
tive downhill race and Lake the lead 
in the overall World Cup standings. 

Figini slipped only once oa the 
quick-frozen 2.1 10-meter (6,920" 
foot) run to win in 1 minute, 32.23 

WORLD CUP SKIING 

seconds. Frenchwomen Catherine 
Quillet (1:32.42) and Oaudine 
Emonet ( 1 :32.94) were second and 
third, respectively. 

Meanwhile, in Wengen, Switzer- 
land. Austrian Peter Wimsberger 
won a downhill by covering rite 
4.230- meter Lauberhorn track in 
2:35.97, edging Swiss Peter 
Liischer by 22-hundredths or a sec- 
ond. 

With 49 control gates and a verti- 
cal drop of 1,028 meters, the course 
was hard-packed and gnppy on the 
turns, putting racers with an early 
starting number at a disadvantage. 

Third went to Peter Muller of 
Switzerland in 2:36.53 and fourth 


Curry Stops Jones in 4, Retains Title 


Compiled fo Our Staff From Dispatches 

BIRMINGHAM. England — 
Donald Curry of the United States 
retained his World Boxing Associa- 
tion welterweight crown Saturday 
night when he stopped challenger 
Colin Jones of Britain 36 seconds 
into the fourth round. 

Jones, who was making his third 
attempt to win a world title, was 
cut on the bridge of the nose to- 
ward the end o? the third round, 
and the fight was halted early in the 
fourth after an inspection by the 
ringside doctor. 

It was the first time in his career 
that the 25-year-old Welshman bad 
been stopped. 

The fight drew a sellou 1 1 1 .500 at 
Birmingham’s National Exhibition 
Center, and the partisan crowd re- 
acted angrily when the scheduled 
15-rounder was halted. 

Scuffles broke out among the 
spectators and beer bottles rained 
down on the ring, splattering offi- 
cials but causing no injuries. 

Curry was making his fifth de- 
fense of the title he won in Febru- 
ary 1983. and remains unbeaten 
after21 pro Eights, 16 of them going 
less than the scheduled distance. 


At the end of the first round, 
Jones had a smear of blood coming 
from his nose. Jones frequently was 
ou (scored because of Curry's abili- 
ty to flick a jab and dance out of 
trouble. 

In the middle of the third round 
a more serious cut opened up on 
the bridge of Jones's nose and the 
American piled on the pressure as 
blood smeared across the challeng- 
er’s face. 

Sensing victory. Curry stormed 
out of his corner as the bell sound- 
ed for the fourth. Jones hammered 
back, but the referee. Ismail Fer- 
nandez, called for the doctor to 
inspect the nose gich. Jones was 
quickly ruled unable to continue. 

Jones, who had previously twee 
fought Milton McCrary for the 
World Boxing Council version of 
the welterweight crown, wept as be 
told reporters that he had just hit 
his stride when the fight was 
stopped. 

“1 feel so ashamed. I'm not even 
tired, just very frustrated and dis- 
appointed." he said. “I’ve got so 
much fight left in me. 

In his two fights with McCrary 
in 1983, Jones forced a draw and 


SCOREBOARD 



ft adaoa! Basketball Association Standings 


EASTERN CONFERENCE 
Atlantic DtUtStaO 

W L Pci. 

GB 

English 11-20 2-5 24. Lover 18-16 4-5 24. Coo- 
per 8-15 4-620; Cos Williams 9-19 7-8 2 B. Mo- 
horn 10-12 5-6 25. Rotamds: Washington 48 

Phikxfoiptllo 

33 

6 

JJ46 

_ 

(Matam 16); Denver 54 (Dunn 11 ). Assists: 

Boston 

33 

7 

£25 

vz 

Washington 25 (Gus Williams 8 ); Denver 26 

Washington 

22 

If 

£37 

12 

' 1 Lever 10 ). 

■ ; -. New Jersey 

19 

22 

ASS 

15 

Portland 27 n 25 37— 1 ZZ 

New York 

14 

29 

326 

21 

Utah 2* 33 17 35-127 

Milwaukee 

Control Dtvtaloa 
28 14 

667 


Danttoy 14-20 14-1642. Gritflth 11-169-11 33; 
Vamtewegta 13-25 4-5 29, Vatenttne 9-13 7-8 25. 

Detroit 

23 

16 

-590 

3V4 

tUtaands: Perttand 53 tThompm 101 ) Utah 

Chicago 

20 

21 

MS 

7Vj 

56 (Eaton 2 D). Assists: Portland 23 (Valentina 

Atlanta 

17 

M 

A1S 

W» 

7); Utah 24 (Green 14). 

Indiana 

13 

27 

J25 

14 

Dallas 18 25 22 27— 91 

Cleveland 

11 

Z7 

289 

15 

LJL Lakers 25 » 34 26—110 


WESTERN CONFERENCE 
Midwest Division 


Denver 

25 

17 

-595 

— 

Houston 

43 

18 

-561 

IV* 

Danas 

23 

19 

.537 

TV* 

San Anionla 

19 

20 

.487 

4 VS 

Utah 

18 

24 

429 

7 

Kansas City 

. 14 

26 

-350 

10 


Pacific Division 



.. LA. Lckers 

28 

14 

•667 

— 

' Pioer-x 

21 

21 

500 

7 

. i— A. Clipper* 

19 

23 

ASS 

9 

Seattle 

19 

23 

453 

9 

Fart land 

18 

23 

A39 

9Y3 

Golden State 

ID 

29 

£56 

16V* 


FR I DAY'S RESULTS 

Washington 29 27 33 28 — IS* 

Denver 21 32 39 38—108 


Worthy 9-15 1-2 19, AMul-Jnthor 8-1 » 1-1 17. 
Scan B-17 M 17; Aguirre 11-31 0-3 22 . Block- 
mon 3-11 9-1215. Rebounds: Dallas 42 (Bryant 
Vincent 71: Los Angeles 45 l Rom 6 Is 7). As- 
sists: Dallas 35 l Davis 13) ; Los Angeles 35 
(Johnson HI. 

Boston 21 25 38 20— U 

unUorta 3S JS 22 19-91 

KWIIllamx 13-26 3-3 27, J.ThomaS 7-9 0-0 14; 
Bird 9-1 V7-A 25. MaxvvrN 6-10 5-5 17. ReOMmds: 
Bostons] (Bird 12 ); Indiana 47 (Kellogg 10 ). 
Assists: Bostai 33 (Johnson 7); Indiana 33 
(Stalling ■). 

Seattle 35 23 33 31—98 

Atlanta 23 31 35 25—104 

. Wilkins 11-28 44 26. Levtagston 9-14 1-2 IP: 
SHuna 6-134-5 16. Chamber* 3-16 8-1014. Wood 
7-8 0-0 14. Rebounds: Seattle 52 (Chambers. 



Selected U.S. College Scores 


FRIDAY'S RESULTS 
EAST 

CCNY 67, Latunai 65 
Franklin Pierce 71 CW. Past 60 
Middlebu-v 95. Brandets 76 
St. Lawrence 62. RPI 48 
Vermont 76, Maine 60 

SOUTHWEST 
Texos-EI Paso 85, Hawaii 66 
FAR WEST 

Montana 80, Mev.-Rona ff 
“5 New Me, Ico 94. San Diego St. 85 
Hi N. Arizona 6 X Montana G1. 58 


h 


I I 8 


SATURDAY’S RESULTS 
EAST 

Army 72. SI. Peter's 7 0. OT 
Boston U. 01. New Hampshire m 
B awrtota 65. Bebsan 55 
__ Brandets 85. Norwich B9b OT 
/ Brown 56. Dartmouth 53 
Cantona 74, Niagara 67 
Coos l Guard 79, MIT 51 
Colby 67, Clark 65. 

Columbia 64. Cornell 57 
Connecticut TIL Syracuse 68 
Delaware 89. Hofstra 77 
Drexet 62. Budknell 60 
Fordhom 73. Manhattan 67, OT 
George! own 65, Pittsburgh .53 
Hamilton 92, John Joy 86 
Johns Hopkins Bl. Hoverford 55 
La Sdle BO, Hotv Crass 77 
" Massachusetts 09. U. Bonaventur* 53 
Northeastern 63. Colgate 56 
Pem St. 86 , Rhode Island 71 
. Rider 67, Lafayette 63 
w's. Connecticut 84 Cent Connecticut 80 
SI. John's 64 Boston Col. 9 
Si. Joseph* 75, George Washington 63 
ample 64 Rutgers 63 
Vermont 71, Maine 61 
Vlllonowo 84 Seton Hall 76 
Washington coL 111. Swarttmorg 76 
Williams a Amherst 61 
SOUTH 

Ala.- Birmingham 68 . W. Kentucky 66 
model 84 Appalachian St. 77 
^emson BJ, VWrfflM 63 
3ufce 93, N. Carolina 77 

5. r.eriiuckv 54 Murray 5L 51 
Msriftj 67. Kentucky SS 
Swee Mason 64. James Madison 53 
>wrglo 97. Auburn BO 
rramWmg 7 1, Texos Southern 69 
lackwivin* sr. 55. Delta SI. 79 
.auiUano si. «9. Vanderbilt 68 
-uiittana Teen is. sw Louisiana 74 
■MKiuui-W, Davidson 74 OT 
.temptas st. 69, Louisville 66 
/■ureslpoi Si pi, Mississippi 64 
Carollno Si. 72. Florida SI. 66 
lovr 73. william & Mary 5* . 
Richmond *3, £. Carolina SO 
Florida 4 $, va. Commonwealth 5 8 
e Louisiana 69. 5W Texas Si. S4 
enneuee 79. Alabama 67 
enn. -Chattanooga 71 Furman 51 
ukwe 56. Clnclnnali 51 
totals t« 3 i 72 , 5 . Mississippi 6 B 
Ml UJ w. Carolina 5» 

MIDWEST 

•oil £-■ 60. xent it, 74 


Bowling Green 93. W. Michigan 91 OT 

Butter 65. Oklahoma City 49 

Chicago 74 Illinois CoL 48 

Creighton 115. Indiana SI. 80 

Oorton 70, Tawoon St. 55 

DePauw 74 Linden wood 37 

Detroit 61, SI. Louis 49 

Dubutut 60, william Perm 54 

E_ Michigan 79, Coni Michigan 76 

Illinois 54 Northwestern 43 

lllbials SL 79. Chicago St. 64 OT 

Iowa St. 71, Missouri *4 

Loyola, III. 94 Evansville 89 

MonuMtie 64 Providence SB 

Miami, Ohio 88. K. Illinois 62 

Mich loan 69. Iowa 67. HOT 

Minnesota 81. Michigan St. 75 

N. Dakota 80. N. Dakota SL 73 

Ohio St. 84 Indiana 84 

OMo U. 62, Toledo 55 

Purdue 72, Wisconsin 68 

Tulsa 69, Bradley 56 

S. Illinois *7. W. Tews St. 58 

Wichita SL 81. Drake 65 

Xavier, Ohio 92, Oral Roberts 8a 

SOUTHWEST 

Arkansas St. 61 Tews-Arlinatan 61 
Houston 78, Arkansas 73 
Lamar 79. N. Texas St. 6* 

Oklahoma 87, Kansas 76 
Oklahoma St. 68, Nebraska 66 

50. Method bi 74 Texas Christian TO 
Stephen F. Austin 59. NW Louisiana 56 
Texas TeCtl 92, BdVlor 71 

Texa»-El Paso 87. San Dleao Si. 81 

FAR WEST 

Alaska- Anchorage 85. Seattle Pad He 79 
Arizona S3. UCLA 53 
Brigham Young 64 Colorado SL 64 
Californio 87, Stanford 73 
CaMTOdo 74 Kansas SI. 63 
Fresno St. 7ft N- Mexico SL 59 
Idaho 64 Bobo SL 76 
Montana 74 N. Arlrono 69 
Ntv.-Ln Vegas 74 Marvlwid 76 
Mev.-Reno 79. Montana SI. 77 
New Mexico B4 Hawaii 60 
Oregon SI. 73, Washington St. 57 
Pacific 74 Long Beach St. 71 20T 
Pepperdlne 60. San Diego » 

Puget Sound 81. AW* a- Fairbanks 71 
Santa Clara 62. portkeid 59 
Soutnem Cal 71 Arizona St. 5* 

Utah 51. 84 San Jose St. 75 
Washington 88, Oregon 62 
Wyoming 69. LMahAQ. OT 

TOURNAMENTS 
CMSB Lincoln 

Firtt Round; Nazareth 77, Brocfcport SI- 74; 
St. John Fisher *8. Rochester Tech 64 
Championship; Ncccrefti 82. St. Jonn Fisher 
71 

Consolation: Rochester Tech BA Brockwri 

51. 80 

Liberty Bank Classic 

First Round: Trinity 85. E Connecticut 5»- 
Weslevon Bl. Conneriicui Col 
Championship: Trlnllv 52. Wesleyan ’5 
ComoMlion: Connecficuf C-jt 40 £ Connect- 
cot 5* 


Slkmo 11); Atlanta 54 (Levlnaslon. Wilkins 
13). Assists: Seattle 18 (HendersanS); Atlanta 
25 I Rivers . 9). 

Hew Jersey 18 33 35 17— 93 

Milwaukee 20 26 24 32—182 

Pressey 13-11 3-2 39. Cummlnas 11-30 34 35; 
King 8-17 9-9 25. Williams 6-12 56 17. Re- 
bounds: New Jersey 51 (Williams 10); Mil- 
waukee SO (Cummings 11). Assists: New Jer- 
sey 33 | Richardson 101; Milwaukee 24 
(Cummings 6). 

HotHtnt 3* 27 27 29-111 

Phoenix 31 22 25 23-101 

Sampson 13-25 >4 29. Wiggins 10-17 3-4 33; 
Nonce ll-is 9-11 31. Adams 7-15 8-10 ZL Re- 
bounds: Houston 52 iSomoson 121; Phoenix a 
(Adams 13). Assists: Houston 79 (McCray 9): 
Phoenix 25 (Humphries 61. 

SATURDAY’S RESULTS 
LA. Lours 39 26 34 40—139 

Golden State 22 34 27 36-109 

Abdul- JaBOar 9-19 4-8 22. Worthy 8-10 3-3 19: 
Short 15-24 5-7 34 Floyd 6-17 36 14 Rebounds: 
Los Angeles 59 (Worthy 71; Golden Stale 48 
(Aleksinas 10). Assists: Las Angeles 22 (John- 
son 131; Golden State 22 (Conner 6). 
Denver 28 10 36 29—123 

Portland » 36 31 34—120 

Nan 13-19 5-S 31. isset hi 1 -* 17; 

Vcmteweghe 1 1-15 S-6 27. M.Thomp$on 9-18 8 
11 26. Rebounds: Denver 54 < Non9) ; Portland 
48 (Bowie 11). Assists: Denver 30 (Lever 8); 
Porttand 30 (Valentine 9). 

Dados 31 16 31 23—101 

LA. Clippers 10 35 26 31—100 

Blackmon 10-19 64 24 Aoulrre 8-19 9-11 25; 
Nixon 18-28 2-239. Walton 6-9 3-4 15. ReboaMs: 
Dallas 49 (Vincent. Perkins 10); Las Angeles 
46 (Walton 10). Assists: Dallas 12 ( Aguirre 5); 
Los Angeles 15 (Nixon t). 

Ptioaalx 26 29 22 23—100 

San Antonio 4* 17 22 17—104 

Gilmore 7-11 12-16 26. Mitchell 11-30 3-5 25: 
Jonss 6-10 5-5 17. Macv 5-134-5 15. Rebounds: 
Phoenix 46 (Lucas )>); San Antonio 63 (Gil- 
more 16). Assists: Phoenix 33 (Edwcrds. 
Macv 7); Sen Antonio 28 (Moore 91. 

Utah 27 14 IB 36—95 

Houston 37 27 22 33—120 

Olaluwon 13-238-12 34, Sampson 10-19 3-4 23: 
Griffith 10-23 3-2 23. Bailey 8-10 2-2 18. Re- 
beaads: Ulan 46 (Bailey 10); Houston m 
(O laluwon 2D>. assists: Ulan la (Bollev. 
Stockton 4); Houston 33 t Sampson Jt. 
Washington 20 25 22 3L- n 

Kansas City 28 29 24 23-103 

E Johnson 12-74 3-4 27. Olberding 6-9 0-1 12. 
Thoroe 69 44 12; Gus Williams 12-2S 3-4 27. 
Ballard 7-13 24 17. F Johnson 6-11 5-6 17. Re- 
bounds: Washington 53 1 Manorn 15) : Kansas 
Cltv 62 (Thomason )4). Assists: Washington 
22 (Williams ID; Kansas Cltv 29 (Them 1 1 ). 
Seattle 29 21 88 28-106 

Cleveland 26 28 30 21—105 

Slkma Ml 13-1331. Chombers9-U 7- 10 25: 
Free 9-154623. Bcwley 8-14 34 19. Rebounds: 
Seat lie <6 1 Slkma 141 ; Cleveland S3 iHubhara 
8). Assists: Seattle 26 (Henderson. Wood 71 :- 
Cleveland 28 (Bogley 11). 

Detroit 32 43 32 22-189 

New Jersey So 25 24 28-107 

Trlpucko IB-17 10-10 30. Long 11-23 7-4 2 4 ; 
williams VM7 5-6 2S. Kins 10-16 3-3 23. Re- 
bounds: Detrail 49 (Laimbw 12); New jer- 
sey 46 1 Williams 13). Assists: Detroit 26 
(Thomas 12); New Jersey 24 < Richardson 81. 
Chicago 27 16 19 35—187 

Indiana 26 26 29 29-110 

Williams 11-19 2-3 U. Fleming 1-15 5-5 21; 
Jordan 15-27 64 38L Waolridpe 9-15 JO-1) a 
Rebounds: Chicago 43 (Jordan 121: Indiana 
57 (Stlpanavich 151. Assists: Chicago 21 (Jor- 
don 7); Indiana 23 (Kellogg 6). 

Atlanta T6 24 25 21-86 

New York 27 1» 17 25—88 

Cummings 9-17 1-2 IV. Bonnistor 8-12 2-2 18: 
Wilkins 6-19 J0-I1 22. Levlngsfon Hi 1-J 17. 
Rebounds: Atlanta 53 I Le rings ton 10); New 
York 54 ( Bannister in. Assists; Atlanta 22 
[E Johnson 11); New York 19 I Walker a). 


National Hockey League Standings 


WALES CONFERENCE 
Patrick Division 



W 

L 

T Pis 

GF 

GA 

Washington 

28 

12 

7 

63 

1*8 

142 

Philadelphia 

28 

12 

6 

62 

199 

134 

NY Islanders 

25 

18 

2 

52 

214 

181 

Plnsourgn 

18 

21 

4 

40 

156 

191 

NY Rangers 

15 

22 

8 

38 

165 

186 

New Jersey 

15 

25 

5 

35 

158 

187 


Adams Division 




Montreal 

23 

13 

10 

56 

17* 

ia 

Buffalo 

2T 

13 

12 

54 

1*8 

133 

Quebec 

22 

is 

6 

50 

112 

166 

Boslon 

20 

19 

7 

47 

164 

Iff 

Hertford 

16 

27 

5 

37 

144 

182 

CAMPBELL CONFERENCE 



Norris OJvtekM 




St. Louis 

18 

18 

■ 

44 

160 

168 

Chicago 

20 

73 

3 

43 

181 

175 

Minnesota 

14 

23 

■ 

36 

Iff 

182 

Detroit 

13 

27 

6 

32 

163 

213 

Taranto 

9 

30 

5 

23 

137 

200 


Smythe Division 




Edmonton 

31 

9 

6 

68 

233 

ia 

Coloorv 

23 

17 

5 

it 

2(0 

ITS- 

Wlnniocg 

22 

20 

4 

48 

191 

200 

Los Angeles 

18 

IB 

9 

45 

199 

IBS 

Vancouver 

11 

30 

6 

28 

155 

252 

FRIDAY'S RESULTS 



St. Louis 



4 


0 

0—6 

Winnipeg 



1 


• 

1—2 


MocLeon li). Driver (61. Brtrten 117*. Mo- 
clot I»1 ; Has kind (27), Kurvars (71. Robin- 
son 1 6), N I tar (11). Shots on goal: New Jersey 
(on Soetaert I 6-12-9-2—29; Montreal (on Low) 


Ctiicogo 4 0 0—4 

Pittsburgh 0 5 0—6 

Crowder I4t, Lemleux (171, Babvch (11). 
McDonnell ID. Lunev (S>; Lvslak (9>.T.Mur- 
rov (lel.Olczyk (11). S Lormer (28). Shots on 
goal: Chicago ton Herron. Romano) 16-7-12— 
35; Pittsburgh (an BonnermanJ T2-11-4— 27. 
Philadelphia 3 I 0—4 

Minnesota 1 0 0-1 

Dvorak 13). Staisolo (I 81 . Kerr (39). ptopp 
( 271 ; Roberts ( 21 . Shots on goat: Philadelphia 
(an Mafachel 9-9-6—24; Minnesota (on Lind- 
bergh) 12-8-12-32. 

Vancouver I I 3—5 

Edmonton 1 3 j_j 

Kurri 2 (44), Gretzky (47). Foaahn 131, Kru- 
shelnyskl (24), Lowe |3). Llnaslrom (7): Le- 
mav (IS). Skrlko (9). Lupul (7), Neely 111). 
Holwaed jj). seats on goal: Vancouver (on 


Fuhr) 13-10-12—34; Edmonton (on Bradeur) 
0-7-13— Z7. 

Buffalo • 1 1— * 

Hartford 0 0 8-8 

Korob (II. Hamel (12). Shots on goal: Buffa- 
lo (on Ml lien) 10+4-20; Hartford (on Bar- 
rosso) 34-5—14. 

Boston 1 l 1-3 

Quebec l 3 0-4 

Ashton 2 (in. P- Sfaehtv 3 (22J; Crowder 
116), Fergus 2 (21). Shots an goal: Boston (on 
Gasselln) 98-13—29; Quebec (on Poolers) 13- 
14-10-37. 

Wlaotoao 2 2 6-8 

Detroit I 2 2-5 

Boschman ( 171. Corf vie (7), Eliott 16). Mo- 
cL*an (32). Steon 2 (19). Hawerrtiuk (28). 
Turnbull (9); Campbell (1). Duauav 2 118). 
Boidirev (is), Ogrodnlck (31). Stats aa goal: 
Winnipeg (on MienleD 9-12-11—82; Detroll 
(on Hoklen) 0-11-15-34. 

N.Y. Raaoen I 0 6—1 

Washington 3 3 1—7 

Carpenter 2 (35). Gould (10). Veltch 131. 
Gartner (2*1. Murphy 2 (I); Ledvard 12). 
Stats on goal: Now York (on RSggin) 7-9-10— 
26; Washington (on Hanlon) TJ-1D-I0— 32. 


World Cup Skiing 


Barr (8). Sutter 1 (20). Federko J (18) : Mo- 
cLean (23). Mullen 08). Shots on goat: SI. 
Louis Ion Hayward, Holden) IS- 1-10 — 28; Win- 
nipeg (an Wamstevl 7-10-11—28. 

Edmonton 1 1 2 0-4 

Vancouver 12 1 0—4 

UipuI (a). Skriko (81. Grodui (IB). Glllls (4) ; 
Anderson (J«l. Gretzky (461. Llnaslrom (a). 
Kum (43). Shots on goal: Edmonton (on Bro- 
deuri 7-9-8- J— 26; Vancouver (on Mono) 9-5-7- 
1 - 22 . 

N.Y. Honours 4 4 1—9 

New Jersey 2 2 2—6 

Lorouche 2 (loi, Ledvard (1 ). Pavellch 2 151. 
Flore* (6). Sundstrom IB). Heath (I). Foilu 
12); Broten 3 (lot. Verbeek 18). Adams 12). 
Gagne (15). Shots oa goal: N.Y. Rangers (on 
Rescn. KnmpBurl) 9-10-14—33; New Jersey 
(on Vonblosbreuck) 17-13-13—41. 

Chicago 0 I 2—3 

Buffalo a 1 3—4 

virta < 11 . Perreault |I6). McKenna (10). 
Andreychuk (21 J ; Savard 124). S. Lormer (38). 
BJWurrov (I). Stats oa goal: Chicago Ian 
Souve) S-o-o—17; Buttoto Ion Skorottansfcl) 0 - 
7-11—24. 

SATURDAY'S RESULTS 
N.Y. istouoers 1 2 2 0— S 

La* Angeles 3 J I t—S 

Tavior 3 (34).Nichoils (38I.MacLeilan (191. 
Svnes2 (13); Potvin (7). Trainer (19),BJut- 
lor 2 139). Tone IK 1 26). Shots 00 goal: New 
York (on Eliot) 11-8-13-2—34: Los Angeles ion 
Hrudey) 18-1 F 16-2—47. 

51. Louis 0 8 1—1 

Toronto 1 3 2-6 

Bennina (5). Nvlund tll.Volve (19).Daoust 
(71, Strong (Zi. Ihnacak (ID; Mullen (71 J. 
Shots on goal : St. Louis (on Bernhardt] 6-3-6— 
15 : Toronto ion Llut) 4-18-11— 31 
New Jersey 3 1 1 M 

Montreal 1 3 a 8—4 


MEN'S DOWNHILL 
(AI Wenoen. Switzerland) 

1 . Pelur Wlmsoerger, Austria 7:35.97 min- 
utes 

2. Peler Luscher. Switzerland. 2:34.19 
1 Peter Mil Her. Swlhrertand. 7:34J3 
4 . Helmut He! lehner , Austria 2:36.71 

5 Se do wilder uber. West G«r many. 7:36J6 

6 Daniel Mohrer. Switzerland. 2:36.77 

7. Bill Johnson, U-S- 2:3684 

8. Karl Atpioer, SwiCtortana 2:3687 

9. Tocw Broeher. Canada. 2:37.0) 
ia Danlto Sbardellotto. Italy. 2:37.12 
11- Anion Steiner, Austria 2:3777 
12 . Mlcnaei Muir. Italy. 2:I75o 

11 Franz Heinzer. Switzerland. 2:37-74 

14. Bruno Kernen. Switzerland, 2:37J4 

15. Maura Cornaz. Italy. 2:3847 

MEWS OVERALL STANDINGS 
7. PJrmln Zurbrloeen. Switzerland. 179 
paints 

Z Marc GirardullL Luxembourg. 165 
X Andreas WenzeL Liechienstein. 152 

4. Wlrnsberoer, 102 

5. Hmnzer. 101 

6. Hotlahner. 100 

7. Thomas Buroler. Switzerland, 93 
8 Martin Hanoi Switzerland. 83 

9. Max Julea Switzerland, 83 

10. Baian KrlzaL Yugoslavia 79 

11. Oswald Torsch. Italy. 74 
IX Muller. Switzerland, 72 


8. Jana Gantnerova CzuchasiovaUa 
1:3157 

9. Star Id Wolf, Austria. 1:3X61 

la Reg too Mosentechner. Wes) Germany. 
1:3169 

11. Caroline Attlo. France, 1.3354 
11 Debbie Armslrong. U5, 1:3X88 

13. Korta Detoeo. Italy, 1:3X89 

14. Patricia Kaasile. Switzerland. 1.3X92 

15. Marie Cecfle Grao-Gaudentor. Franco. 
1:34.18 

WOMEN'S OVERALL STANDINGS 

I. Flo Ini. 185 points 

X Brigitte OertIL Switzerland. 165 
X Walltser. 149 

4. Marina Klehl, West Germany. 137 

5. Elisabeth Klrctder. Austria 136 

6. Erika Hesh Switzerland, 119 

7. Olga Charvatova. Czuchostowofcla, 106 

8. Christen* Gulgnord. Franca 82 

9. Zob Haas. Switzerland, 76 
la Tanwro McKinney. U5_ 75 

II. Vrenl SchneWer. Switzerland. 58 
IX Michaeta Gera. West Germany. 56 
IX Blanca Fernandez Ochoa Spain, 55 


European Soccer 


WOMEN'S DOWNHILL 
(Ai Meg eve. France! 

1. Mkjwta F total. Switzerland. 1 :3X23 sec- 
onds 

X Catherine Quitlet. Franca, 1:3X42 
X Cloud In* Emonet, France. 1:3X94 

4 . Svlvka Eder. Austria. 1:3X95 

5. Marta wolllser. Switzerland, 1 :3X97 
a Elisabeth Choud. France. 1:3X18 

7. Holly Ftandar*. U5. 1:3343 


ENGLISH FIRST DIVISION 

Chalsn 1 . Arsenal l 
Coventry 0. Aston villa 3 
Liverpool 4. Norwich 0 
Paints Standings: Euerton 49; Tottenham 
47.- Manchester united. SheEleld Wednesday 
41: Arsenal 40; Liverpool 38; Southampton 
37: Chelsea, Nottingham Fares/. Narwtcn 3; 
WM! Bromwich 34; wki Ham. Aston villa 31 ; 
Queen's Park Rangers 30: Waltord. Leicester 
29; Newcastle 38; Sunderland 26; Coventry 
25: laswlch 22; Lulon 21: Stoke IX 



BASEBALL 
American League 

CLEVELAND— Stanea Pal Tabler. oui- 
fielder- In fielder, la 0 om-vear contract 

DETROIT— Reached an agreement on o 
(aur-vear coni roc 1 ec tension with WllJie Her- 
nandez. pitcher. 

KANSAS CiTv — TraiJud Dar SlCugn. 
catenae, to toe te.as 7 rocets s, 3 s» 

wins Ditcher, to me N.v. f.wis. 

MILWAUKEE— TrodeC J<m Sundtarp 
coicner. i<> the Cil* Pg-ois. 

TE »AS— Acsuiretf Tim Lear,. eiUt*- 
trom me N.v .Veil ana ita 3 «a *u.x.. Jai.-i. 

Darwin. pi tchc>. jn-z o miner iraaue c-iE-i* ': 
he ixjmra iuir» i-j i~ 

jew-yn .»i'P Z’tut j * - -" • 

(ine-.ear 




Pilot Wolfgang Hoppe teamed with Dierner Schauerham- 
mer as the East Germans won their second straight world 
rnn-man hohsled lille Sunda\ in C'eninia. ItaK. where the 
four-man cfiaitipii inships are scheduled for next weekend. 


TWO-MAN WORLD CHAMPIONSHIPS 

(AI Cervlnla Holy) 

FlnaiUuiKliiei after (worms Saturday and 
tw rune Sunday: 

1. East Germonv 1 (Woitano Hoppe. DiMar 
Sctmerhammor), 1:0487-1 ;0SJS; I-04J9- 
7;84.tl - 4:UJZ 

X East Germany 1 1 (Deilef Rich ler. Steffen 
GrummD. 1:05J5-1 :D4*4; 1: 0467-1:04.70 — 
4T19J6 

3. Soviof Union I (7 Ini is Ekmgnis, Nikolai 
Zhirov), 1;0X5M:05J0; 1:0561-1:05.74 — 
2:2237 

A. Swlizertand II (Erich Scharer, Andre 
KlserJ. 1:06.17-1 :DS34: 1:0558-1:0529 — 
4:2X53 

5. Switzerland ( (Hons HIMebrand. Melnrod 
Muller 1 , 1;0l27-1:05M: 1:0520-1:0537 - 
4:2X72 

A Sovioi Union 1 1 ( Jam Is Klpurs. Marls PolF 
kans. 1.05.99-1 .06JM: 1 0527-1 0605 - 4 2X35 

7. dal. I [Guefrino Ghedma. Andrea Men- 
«Mf»l. )'862M-0597. l.flJ5J-l. 05.70 - 
4:13 74 

8 West Germany I (Anton Fl&cner. Franz 
HieSiOer). 1-06 19-1 06J6. ) 0S80-1-05J7 — 
4 7406 

4. Hair II 1 Ale* Won. Georg Btikrrchen. 

I 066&-I 06J0 1 (Is 14-1 WJT _ 4 JlJl 

'0 tijilrio : 1 Fran: Paul -Vitci Horsl 

iut.tr. 1 ft K : 56 ;t 1 y | jj-ja _ 

4 24 ai 


lost on a split decision. But he nev- 
er posed problems lor ihe confi- 
dent Curry. 

"After die first couple of rounds. 
I took control,’’ said the 23-year- 
old titlisL “I came over here lo 
prove Fm a good champion and 1 
did." 

Speaking at Heathrow Airport 
Sunday before returning to die 
United Slates, Curry said. “I would 
advise Colin not to quit boxing but 
to give ii another shot — if I relin- 
quish the lille." 

He added, “l would be willing to 
fighi him again if they paid me 
enough money — but he would 
have to prove himseU again before 
that by beating a credible oppo- 
nent” 

Curry said that he would be pre- 
pared to fight again in Britain, de- 
spite the ugly scenes after the fight 
was stopped. 

“I can understand it. They want- 
ed Colin to win very badly. But not 
afl fight fans are like that. I feel 
sorry for the genuine fight follow- 
ers because the stupid people make 
it bard to bring top fights to this 
country through their bad behav- 
ior." he said. (AP. UP I) 


to Swiss Helmut H&flehner 
2:36.71. 

“! was very happy with my run, I 
think 1 caught the perfect line all 
the way down," said Wimsberger, 
who was the 1 lib to start. It was his 
fourth downhill victory on the cup 
circuit, but his first since 1979. 

"Just as ! was baffled the past 
four years why I skied poorly. I 
cannot explain why Fm suddenly 
having such a good year now." he 
said. The Austrian had finished 
third three times and sixth once so 
far this season. 

Lflscher too had his best season 
in 1979, when he won the overall 
World Cup. Bui in recent years he 
has had to Tight for a place in the 
Swiss team. "Now my future looks 
brighter again," he said after finish- 
ing second with starting number 
26. "I fought all the way down." 

LUscher was followed in order by 
Sepp Wildgruber of West Germa- 
ny. Daniel Mahrer of Switzerland 
and American Olympic downhill 
champion Bill Johnson. 

For a while it looked as if John- 
son, whose star began its spectacu- 
lar rise when he scored his first cup 
victory on this course a year ago. 
could repeat. The 10.000 spectators 
at Vengen shouted their approval 
as his time for the top section — 
44.1 8 seconds — the fastest by any 
racer, was announced. But as in 
earlier races. Johnson lost ground 
in the bottom stretch and he fin- 
ished seventh in 2:36.84 

Still it was his best performance 
this season. "I’m in good physical 
condition, my confidence is back 
and today ] was shooting for a 
win," Johnson said. "And I came 
damn close. I knew nobody could 
beat me at the top. but I blew a 
little time in the turns and I also 
broke out of the tuck loo early 
above the finish." 

The victoty for Figini who is 17, 
was her sixth of the season and 
fourth in 11 days. It vaulted her 
into first place with 18S overall cup 
points after starling the day tied at 
165 points with teammate Brigitte 
Oertii, who fell 

“Of course I’m delighted," said 
Figini who registered her first ca- 
reer cup triumph in last year’s 
downhill on the same course. "I 
nearly fell onoe. It was difficult.’’ 

Fifteen skiers from a starting list 
of 50 failed to finish; the course 
had frozen overnight after a heavy 
snowfall Saturday that forced orga- 
nizers to postpone the race one day- 


Decker Sets 2,000 Mark 
In 1st PostrOlympic Pace 


By Kevin Dupont 

Nctv York Times Service 

LOS ANGELES Mary Deck- 
er, competing for the first time 
since her controversial collision 
with Zola Budd ended her Olympic 
gold medal hopes last August, set a 
world indoor-best in the 2,000-me- 
ler ran with a time of 5 minutes 
34.52 seconds in the Sunkist Invita- 
tional track and field meet here 
Friday night. 

Decker, who broke immediately 
to the lead and never trailed, fin- 
ished more than than 1 1 seconds 
ahead of Ruth Wysockl who de- 
feated her at 1.500 meters in last 
July’s Olympic trials. 

“1 was a little bit surprised how 
easy it was," said Decker, who shat- 
tered the world mark of 5:43.30 set 
by the Soviet Union’s Yekaterina 
Podkopayeva in 1983. **1 never felt 
fatigued at all." 

“She was in control all the way,” 
said Wysocki, who finished second 
far behind with a time of 5:45.93. 
“She knew what she wanted to do 
and she kepi pouring it on." 



Man Decker 

'/ Min ' i4f’f ,r : \t\! h ‘ ■»> i.i.i . .ii 


Decker was greeted with mixed 
boos and cheers as her name was 
announced to the crowd of 13.842. 

After her collision with Budd in 
the 3.000-raeier race last August, 
Decker complained vehemently to 
the press, claiming that Budd 
fouled her and cost her a chance at 
the gold medaL 

It was clear by Friday night's 
greeting that her image had suf- 
fered in the fall. 

“I don’t think I have to do any- 
thing to re-establish myself.” she 
said. “I feel 1 did that Friday night 
as a runner, in this race. I think it's 
time for the press to tell the truth." 

Decker contends that the media 
blew the incident out of propor- 
tion, calling some of the post-race 
accounts “ totally fictional and un- 
fair.” 

Wysocki, outspoken recently 
about Decker’s reaction to the col- 
lision with Budd, remained firm in 
her belief that Decker over-reacted 
to the incident. She said she could 
not believe recent comments by 
Decker in which she now says she 
□ever blamed Budd. 

“It’s funny to me now that she 
says she didn't blame Zola," Wy- 
socki said. “I have the videotape of 
the Olympics that I’d be glad to 
show her. But I really wish the 
whole matter would drop and blow 
over." 

“I know what happened, and she 
knows what happened," Decker 
said of Budd 

In the night's closest event, Ea- 
monn Coghlan of Ireland edged 
Steve Scott, America's premier mil- 
er, by one-hundredth of a second to 
capture the mile in 3:56.34. New 
Zealand's John Walker finished 
third in 3:57 .36. 

■ 400-Meter Record Broken 

Thomas Schonlebe of East Ger- 
many set a world best of 45.60 
seconds in the 400 meters at the 
inaugural World Indoor track and 
field games Saturday in Paris, 
United Press International report- 
ed. 

Schonlebe, a 400-meter finalist 
outdoors at the 1983 World cham- 
pionships in Helsinki improved 
the previous mark of 45.79 set by 
Antonio McKay of the United 
States on Feb. II. 1984. Schon- 
febe’s victory margin was five me- 
ters (5.47 yards) over Briton Todd 
Bennett and American Mark 
Rowe. 

Meanwhile, in Johnson City, 
Tennessee, a world best for the 
men's indoor mile relay that stood 
since 1971 was bettered by three 
college teams at an invitational 
meet. 

Auburn ran the mile in 3:08.23. 
shading more lhan a >ccond off the 
mark of 3:09.4 >ci by the Pacific 
Coast Track Club on Fen. 2". ItCl 
But less than jn hour iater. V ii! jn- 
ova lowered the vlJnJjrti to 
.'■iw.it i vlji.ha'.iJi Cobrae. unh j 
3 i* Sr. a -Jure. jN.. rilj-.rJ ;>. e 
!-"! J-.kir.a 









INTERNATIONAL HERALD TRIBUNE, MONDAY, JANUARY 21. 1985 


LANGUAGE 


The Decoupling of Un- 11,6 Passage ™ Peggy Asfccrofs’s Long Acting Careei 

1 t? J _ _ „ I- loa.n - “fih —what nart flesh and feeling, a process Dame fl 


By William Safirc 

W ASHINGTON — Allaying 
Allied concerns about Ameri- 
can space-defense p lans . Secretary 
of Defense Caspar W. Weinberger 
said. “There's not the slightest pos- 
sibility that America would be de- 
coupled from Europe by the pur- 
suit of this vital initiative." 

A year before. Vice President 
George Bush used the verb in a 
similar alliance context, though 
somewhat more awkwardly. “The 
Soviet Union,’' be warned, “having 
already deployed sufficient missiles 
to intimidate Western Europe, is 
now trying to decouple our security 
from each other.’’ 

A few years ago, if you gave a 
free-association test to a diplomat, 
when you said alliance he would 


mately linked word is decouple. The 
word is not brand-new — Science 
News was writing in 1970 that “the 
northeastern Pacific and (he South 
Pacific were decoupled sometime 
during that period [the last 65 mil- 
lion years]" — but it broke out in a 
rash of usages at the end of the 
1970s. Astronomers liked it and 
spoke of radiation and matter de- 
coupling just before the formation 
of supergalaxies; economists 
picked it up, writing of the decou- 
pling of energy and economic 
growth; and in 1979, in a piece by 
Fred Kaplan in The New York 
Times Magazine, the word made its 
military-lingo debut, in the context 
of suspicion that “America was ‘de- 
coupling’ its own defense from that 
of NATO." 

The verb decouple means “to sep- 
arate, disjoin, unlink "; if you want 
an informal synonym, try split up or 
part company, for a surgical feel, 
use sever or, if you want an offbeat 
word, sunder. Divide win even do 
the trick, if you are not booked on 
the mechanical-linkage metaphor; 
if you are and like to use plain 
words, there's no need to pull the 
plug on disconnect 

Why, then, the sudden populari- 
ty of decouple ? Why, if coupling is 
so popular to alliance diplomats, 
was the much more f amiliar word 
uncouple overlooked? The last time 
anybody used decouple in English 
was in 1602, taken from the French 
verb decoupler, for centuries, il was 
uncouple in English, decoupler in 
French. What undid the un-? 

The answer is the rise of de-. De- 
is to prrixes what -nik was to suf- 


ANNOUNCEMENTS 


INTERNATIONAL 


fixes ( sputnik, beatnik, nogoodnik. 
freezenik ) and has surpassed the 
use of the suffix -wise, coinagewise. 
The prefix de - is now one of the 
hottest neologism-producers in the 
language. Its rival, un-, which only 
recently produced such locutions 
as unpoor and unblack, is on the 
decline, losing out to non- (as in 
nonbook) and de-. 

De- is a prefix that helps timid 
speakers out of a fix: h often offers 
a fix to those addicted to shyly 
averting their eyes from hard, abra- 
sive words. Museum directors, 
fearful of provoking criticism from 
donors by doing something as 
straightforward as “seUingT prefer 
to de-accession. When this obvious 
euphemism drew boots, some curi- 
ous curators launched de-acquisi- 


1 ’! t 1 H > r- S w «|lj M »Jt»J r* K Ml 'AIM H" 


. sweetener of the decade. The noun 
, acquisition had long ago been 
[ formed from the verb acquire, the 
| marble-hall gang then proceeded to 
■ royally prefix Uie noun, creating 
‘ de-acquisition, first a noun and 
t more recently a verb meaning “to 
. sell, trade, or give the damn thing 
[ away, I won’t have it hanging on 
, my wall." 

i Naturally, when a method of eu- 
i pbenrism becomes available, Wash- 
. ington soon snaps it up. Budgel- 
; cuueis, who shy from gutty vote 
r like gut, now croon unctuously 
: about defunding programs. This 
; sounds las harsh than cutting off 
[ ihe money or drying up the resources 
. However, defund has at least the 
1 merit of brevity, which is not the 
case in that other new bureaucratic 
favorite, dejustify. 

“If you want to spend less, you 
have to dejustify and then get ria of 
programs,’' said Donald Moran, 
deputy. at the Office of Manage- 
ment and Budget. The logic: to 
fund a program, you must justify it; 
to defund that program, you must 
first dejustify iL Verbs not consid- 
ered in the budgetorium include 
criticize, condemn, denounce, repre- 
hend. attack-, phrases that did not 
make it indude the coolheaded ar- 
gue against, the laborious demon- 
strate its unworkability or the heal- 
ed show the whole thing to be a' 
boondoggle. U dejustify gets ridi- 
culed out of existence, however, it 
will probably be replaced by devin- 
eticate, there’s no stopping ihe pre- 
fix fixation, especially ibe rise of 
de-. 

New York Tima Service 


PERSONALS 


By Benedict Nightingale 

New York Tima Service 

L ONDON — Her Barbie Batchelor in 
' the television version of Paul Scott's 
“Jewel in the Crown” and her Mrs. 
Moore in the film of E M. Forster’s “A 
Passage to India” seem to be achieving 
what her performances as Juliet and Ge- 
opaira and scores of other major theatri- 
cal characters never quite did: demon- 
strating to milli ons that they have been 
overlooking one of the century's major 
actresses. They are making P eggy Ash- 
croft, at age 77, an internationally known 
name and face. 

Mrs. Moore and Forster proved a chal- 
lenge very different from Barbie and 
Scott, Ashcraft said. “Forster is, of 
course, a much more established writer 
than Scott, but it’s debatable if he's a 
better one," sbe said. “If people in a 
hiuidred years want to understand a cer- 
tain period of Indian history from the 
English point of view, they may find 
Scott the more satisfactory read. Forster 
is a very subjective writer. Scott a very 
objective one. There’s a mystery in For- 
ster's writing, which makes him interest- 
ing but also elusive. 

“1 found I could see Barbie very clear- 
ly, always wearing the same costume, 
with a pleat at the front and pleat at the 
back. Mrs, Moore is more of an enigma. 
Like most of Forster’s women, she s in 
some way a question mark." 

Peggy Ashcroft’s relative obscurity in 
the United States is not altogether sur- 
prising. It is nearly 40 years since she 
went to Broadway in Robert Moriey's 
“Edward, My Son," and she has not 
appeared on the New York stage since. 
She apologetically explained that, “while 
I loved the amazing quickness of reaction 
of audiences over there. I've been so 
occupied in the theater here." But even in 
her native land she is not the celebrity sbe 
might be, considering that she is the 
country's senior theatrical dame, as the 
female equivalents of knights are called, 
and is regarded by most critics as highly 
as her old friencf and frequent leading 
man. Sir John Gielgud. 

Part of the reason is her reticence and 
love of privacy. She seldom gives inter- 
views, explaining gently, ‘Tm not inter- 
ested in myself, very." But the principal 
explanation is that all her most important 
work has been accomplished not before 
the cameras but on the more upscale sort 
of stage: the Old Vic. the Royal Shake- 
speare Company, the National Theatre 
-—places catering more to the cognoscen- 
ti than the crowds. 

Yet here she is, enjoying an Indian 
summer with the public-al-large, all be- 
cause she wanted a good, long book to 
take on a trip to Canada a few years back 


■■ ~ speak to sou again." “Oh — what part 

P'=>-" " Barbie ” 





■■ .S*. 





^ *■* 


*$■-' "Vi 




\ 1 . £?;. ^ 
... • f}\ \ 


Peggy Ashcroft as Mrs. Moore in “A Passage to India.* 


and a friend lent her Scott's “The Rfy 
Quartet." from which the “The Jewel in 
the Crown" was eventually derived. 

“1 couldn't put it down. I became ob- 
sessed by it, and the trouble was I only 
had the first two volumes, so 1 couldn’t 
wait to get home for the next two. And as 
soon as i did, I got a phone call asking if 
I’d make a film in India, with a script by 
Ruth Prawer Jhabvala. 

“Well. I'd never thought a great deal 
about India. I’d never imagined I would 
go there, but Td become so fascinated by 
it that 1 didn't even wait for the script to 
be completed. I read the treatment and 
accepted, and went and did the film, and 
it was a marvelous experience. I was 
absolutely overwhelmed by India.” 


Thai film was “Hullabaloo Over Geor- 
gie and Bonnie's Pictures." Dame Peg- 
gy's part was an art collector in earnest 
pursuit of a maharaja's collection. The 
days she spent on location, combined 
with side trips to Agra and Goa. left her 
determined to return to the subcontinenL 
The chance came surprisingly quickly. 
Soon after her return to England she was 
walking past the entry desk at the Na- 
tional Theatre when she overheard one of 
its directors. Christopher Morahan. talk- 
ing about his plans to make a television 
version of “The Raj Quartet." Suddenly 
Morahan found hunself confronted by 
Dame Peggy at her most quietly formida- 
ble. “Is il true you’re doing it?" “Well, 
yes." “If you don’t have me in it HI never 


Ashcroft, it was clear, had already 
speculated privately about which of three 
older female characters she might play. 
Lady Manners, mandarin rebel against 
the prejudices of British Raj? Mabel, se- 
nior member of the family at the cen ter of 
the serial, the Laytons? Or Mabel’s com- 
panion. the lowly former missionary. 
Barbie Batchelor?’ 

"All the characters are wonderfully 
drawn, but this was. 1 realized, the one 
who interested me the most. She and 
Mrs. Moore are quite unlike each other 
except that they’re two Christian women 
who come to doubt And if Mrs. Moore 
hadn't died. 1 think she might have gone 
mad. like Barbie." 

Mrs. Moore is one or the most impor- 
tant characters in “A Passage to India" 
— the friend and prospective mother-in- 
law of the English girl who accuses a 
voung Indian doctor of attempting to 
rape her. Satyajit Ray had been interest- 
ed in putting Forster’s novel on the 
screen in the 1960s, and there were re- 
ports that he wanted to cast Ashcroft in 
the part; but the project fell through, as 
did a similar one later by Ismail Mer- 
chant 

David Lean prevailed where his pre- 
decessors had failed, and he. too. Lhougbt 
Ashcroft would make the perfect Mrs. 
Moore. 

At first she demurred. Shooting “The 
Jewel in the Crown" had been exhaust- 
ing. She had endured heat and thunder- 
storms and. at Simla, cold so acute that 
she had spent the lime beLween lakes in 
bed with a hot-water bottle. 

“Then the cars in India, ihey always 
seem to break down. The tires burst, and 
they'd put on the spare, and that would 
go too. That happened three times, and 
once a car actually burst into flames. It 
was sometimes pretty hair-raising." 

Yet her affection for the place was 
undiminished: “When you're in the 
midst of that excessive poverty, it’s op- 
pressive and distressing and even terrify- 
ing. but there’s also an incredible pa- 
tience and acceptance that gives you a 
different perspective, a different outlook 
on life, which 1 found very impressive.” 

There was also simply the chance to 
work with Lean and with Alec Guinness, 
who was to play the Hindu mystic. Pro- 
fessor Godbole. And an opportunity to 
give new life to a book she had, coinci- 
dentally, just finished rereading, an expe- 
rience that confirmed her view that it was 
the finest of Forster's novels. 

In Ashcroft’s performance, the enig- 
matic Mrs. Moore indisputably becomes 


flesh and feeling, a process Dame Peggy 
finds impossible to describe. There are 
individual moments sbe remembers wdL 
such as Mrs. Moore's growing claustro- 
phobia and terror in the Marabar Caves, 
where so much that is ominous and fate- 
ful in “A Passage to India" occurs. “It 
wasn't very difficult to feel that — be- 
cause we were in a strange country, in a 
very dark place, with people packed 
tightly together, and it was a terribly hot 
day." 

Morahan. producer and director of 
“The Jewel in the Crown." recalls Ash- 
croft’s artistry with a kind of awe: “She 
has a really extraordinary intuitive ability 
to understand character, and a remark- 
able skill in being able to cany it into 
performance. Her imagination is 
matched by her creativity, she’s absolute- 
ly incapable of a dishonest moment, and 
she’s also very generous, giving so much 
to whoever she's acting with. She had the 
ability to draw on all her experience of 
life, all her imagination, and encompass 
the extraordinary range of Barbie. 

Ashcroft has been provoking similar 
panegyrics in Britain since 1930, when 
she played Desdemona to Paul Robe- 
son’s Othello and was rapturously de- 
scribed by a leading critic as “a true 
women opening the petals of her wonder 
and love to the African sunshine of her 
hero’s triumph.” In the 1930s and '40s 
sbe went on to play a series of great 
Shakespearean roles: Portia. Imogen, 
Rosalind. Miranda, Juliet, Ophelia, Ti- 
tania. In 1950, her Cordelia was so touch- 
ing that the actress playing Goneril was 
reduced to inappropriate tears night after 
nighL 

Bul increasingly Ashcroft was demon- 
strating that her range went far beyond 
the sweetness. light and warmth so often 
associated with her. A blazing Electra 
was followed by a ravenous Cleopatra, 
and that by a Hedda Cable/ remembered 
by Kenneth Tynan as “a vixen, detest- 
able and ridiculous, a rigorously honest 
dissection of an unromantic character.” 

“She can be enchantingly feminine," 
says Gielgud, who has directed and 
played opposite her, “yet nun and play 
monstrous, villainous people, parts you 
wouldn't think her right for." She admits 
that she loves playing “bitches." women 
like Queen Margaret, in whose guise she 
did some spectacularly brutal deeds in a 
famous Stratford production of “Henry 
VI" in 1963. Yet even there she was true 
to one of her main articles of acting faith, 
which is that “you show people in all 
their weakness and beastliness, yes, bul 
you have to try to put yourself in their 
position, too. I don’t think artists should 
make judgments on the characters (hey 
play.” 


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