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The Global N 
■ Edited in Paris 
Printed Suntii 
• . in Paris, London, Zuri 
Hoik Kong, Singapore, 

The Hague and Marseille 

WEATHER DATA APPEAR ON PAGE 18 



INTERNATIONAL 



(tribune 


Published With The New York Hines and The Washingto n Post 


No. 31,852 


ZURICH, THURSDAY, JULY 18, 1985 


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Reagan ’$ Health: 
Doubt Will Persist 




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By Lawrence KL Altman 

New York Times Service 

WASHINGTON — For months 
and years to oome President Ron- 
ald Reagan's physicians wffl be 
confronting the most important 
uncertainty in their patient’s case: 
Has any cancer eluded their 
search? Does any still lurk in the 
president's body, seeding new 
growth dsewbere? 

Those closest to the case, the 
experts at the National Cancer Ln- 

NEWS ANALYSIS 

stitute and the Armed Forces Insti- 
i'. v— ■- .... V“ U4f M^ I tute of Pathology who are part of 

. "" . w ”a &a^ the team caring for Mr. Reagan at 

3frkj , ' 7 / ' Jlk Bl* the Bethesda Naval MedhxuCea- 

' r "d ter, said they would not be able tefl 
for some lime. 

Although Mr. Reagan's doctors 
spoke with guarded optimism at a 
news conference Monday about his 
chances for cure, there were dues 
in their words that signaled con- 
cern that the cancer might have 
been caught too late to prevent 
spread elsewhere. 

“It appears as if" the cancer was 
confined to the malig nant 
within the bowel 
Dale W. Oiler, head of surgery at 
the Bethesda center, said. 

Dr. Steven Rosenberg, chief of 
surgery at the National Cancer In- 
stitute, a member of the surgical 


team, said all the tests and visual 
inspections during the surgery last 
Saturday showed “no evidence in 
the president’s case that the cancer 
has spread.” He said that Mr. Rea- 
gan had a better than 50-percent 
chance of being cured permanent- 
ly- 

Dr. Rosenberg, when asked di- 
rectly, did acknowledge that he 
could not be sure that Mr. Reagan's 
cancer had not already begun to 
spread. ‘There is a possibility that 
the cancer can return,” he said. 

Dr. Rosenberg emphasized that 
.he was speaking of the tong-term 
statistical chances, which always 
appear less favorable than would a 
five-year survival rate. 

Prognoses depend on the tu- 
mor’s severity and whether the can- 
os has spread. The odds of being 
cured become less favorable as the 
cancer invades each new local ana- 
tomical area in the inner lining of 
the bowel 

Dr. Rosenberg said that the tu- 
mor removed Saturday from the 
president's large Intestine had 
spread into the initial layers of the 
intestinal wall bat not (be outer 
layer. He graded it Dukes-R, under 
a system that bears the name of a 
British doctor and ranks tumors 
frOm A, least severe, to D. 

If Mr. Reagan’s cancer had been 
classified Dukes- A. be would have 

(Continued on Page 2, CoL 1) 



Bush Visits RfiUyingReagcm; 
Moscow Is Quiet on Ailment 


U l. 

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* 

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The Associated Pros 

BETHESDA, Maryland — Vice 
President George Bush visited 
President Ronald Reagan on 
Wednesday for the first time since 
the president’s cancer surgery, as 
Mr. Reagan's recovery continued 
to advance. 

: *.ft tv White House officials said Mr. 

s - 1 **H.(RE ' Reagan Had had his “best nigh t" 

, sauce Saturday’s surgery. 

Doctors removed a tube running 

through his nose to his stomach, 
_ ' and Mr. Reagan .joked that he felt 
as if it were ‘^Chnstmas in July.” 

■ . . In Moscow, a Soviet Foreign 

Ministry spokesman declined to 

comment oo whether Mr. Reagan’s 
• Cr. health could affect U ^.-Soviet re- 

lations, saying it was unet h ical to 
speculate about a leader’s ailments. 


“It really is dramatic the way the 
recovery is taking place,” Mr. Bush 
said after meeting with Mr. Reagan 
for 45 minutes at the Bethesda Na- 
val Medical Center outside Wash- 
ington. 

The White House spokesman, 
Larry Speaker said Mr. Reagan 
had signed a supplemental extradi- 
tion treaty with Britain to expand 
efforts against terrorism. 

Asked if more decisions were be- 
ing marl* at the staff level than 
usual, Mr. Speakes said, “Perhaps a 
few more, bin not that many.” 

Mr. Speakes denied, inarts 
sponse to a reporter's ouestion^hat 
the White House cinef of staff, 
Donald T. Regan, was “running 
the country” in Mr. Reagan’s ab- 
sence. “The president is,” he said. 


L^TiTl 




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Dollar Plunges in Europe 

The Associated Prat 

LONDON — The dollar fell Wednesday on European foreign- 
exchange markets to some of its lowest levds in a year. Analysts 
traced the decline to jitters over the US. economy and President 
Ronald Reagan’s health. 

The dollar declined in Paris to 8.631 French francs from 8.7575 
fran cs on Tuesday. In Frankfurt it fell to 2.85 18 Deutsche marks from 
2.88 DM a day earlier, and in Zurich it dropped to 2.33 Swiss francs 
from 2J915 francs on Tuesday. In London the pound gained to 
$1,412 on Wednesday from $13885 the day before. Details, Page 13. 


White House 
Says Campaign 
Was Not Factor 


By Boyce Rensbergcr 

Washington Pan Service 

WASHINGTON — The ques- 
tion of interrupting President Ron- 
ald Waa ffiti’ g . whrinle Hnring the 
1984 campaign year to perform a 
more complete *»»iwina«ym of his 
colon, which is something many 
doctors outside the White House 
say should have been done then, 
never came up for discussion, ac- 
cording to White House officials. 

Following Mr. Reagan’s dancer 
surgery Saturday, there have been 
suggestions that the White House 
knew there were medical reasons 
for a more complete exam but that 
it was deferred tor political rea- 
sons. 

The Observer of London pub- 
lisbeda story Sunday daimmgtbat 
Mr. Reagan’s doctors knew he 
needed surgery but put it off for 
political reasons. 

However, numerous sources 
dose to the Reagan campaign and 
White House insisted Tuesday that 
this was not so. In fact, there was 
no way to know that Mr. Reagan 
would need surgery until he had ms 
thorough colon exam Friday. 

“His health never came up” dur- 
ing 1984, asemor official said. “We 
assumed be was in the best of shape 
because of the way he acted.” 

If there had been say hist that 
the president ought to have a more 
complete exam, said another offi- 
cial Nancy Reagan would have 
taken her husband “by the ear” to 
the hospital 

Others dose to the White House 
that if a tiATkwnt had been 
made to postpone a thorough ex- 
amination on til after the election, it 
would have made no sense to post- 
pone it eight more months mmllast 
week. 

The first indication of possible 
colon disease came m May 1984, 
■when a ro utine mwtieal w rnmina - 
tron found a small potjp in the 
presidenfs' lower .intestine. It was 
removed and found to be benign. 

Cancer specialists not connected 
with the Reagan case have said in 
recent days that the president 
should have received an immediate 
examination of his entire colon. 
Some doctors made-that pant last 
year. The 1984 exam involved look- 
ai the lower third of the 




From West Bank 
Meet With Peres 


NEW SOUTH AFRICAN VIOLENCE — Troops s tandin g by in the black township of 
Soweto as an Alfa Romeo barns, after an outburst of arson and stone- throwing. 
Readmits also tried to set fire to the home of the mayor, Edward Konene. Elsewhere in 
the coiHitry, three more blacks were killed in anti-apartheid protests. Page 5. 

U.S. Concedes Russian Arms Offers 
ButSays They Maintain Soviet Edge 


These same specialists have said 
that an even stronger indication for 
a complete colon exam came in 
March, when another routine exam 
turned up a second benign polyp 
and, more ontinously, evidence of 
blood hidden in the stool 
This stool lest suggested that Mr. 
(Continued on Page 2, CoL 4) 


By Bernard Gweroman 

New York Times Serrice 

WASHINGTON — Reagan ad- 
ministration officials have ac- 
knowledged that the Soviet Union 
is offering some ideas in Geneva on 
reducing strategic aims. But they 
say the concepts seem vague and 
appear to be designed to maintain 
certain Soviet advantages in land- 
based missiles. 

The disclosure of the Soviet pro- 
posal came as the second round of 
the strategic arms talks were ad- 
journed Tuesday. A third round of 
the talk^whidi started.m.Marrii, 
naB begin SepL 19. 

The White House marked the 
occasion with a statement saying 
that the latest talks had aided just 
about “where we had expected to 
be, given that we are ending only 
the second round of negotiations of 
such complexity and importance." 

The Soviet Union's statement 
about the adjournment was more 
negative. Tass. the official news 
agency, said in Moscow that the 
second round had beat ns unsatis- 
factory as the first and had. been 
marred by an American “smoke 
screen of empty words and indefi- 
nite promises." 

The views were echoed in Gene- 
va by Viktor P. Karpov, the chief 


Soviet delegate to the talks, who 
said he was still wailing for the 
Americans to offer something new. 
■ The Reagan administration 
[maintain ed previously that the So- 
viet side had not made any new 
proposals on limiting either strate- 
gic or medium- range weapons. 

Bui Tuesday, the White House 
said that “late in this round.” the 
Russians mentioned “some con- 
cepts which could involve possible 
reductions in existing strategic of- 
fensive nuclear arsenals.” 

. Administration officials, ex- 
plauung the Soviet thrive, said the 
Russians suggested last week that 
one way of handling the issue of 
strategic weapons would be to 
. agree on percentage cedings on dif- 
ferent classes of weapons. 

For instance, an official said, it 
was suggested that, each side might 
consider keeping no more than 50 
percent of its nuclear araenal in the 
form of land-based intercontinen- 
tal ballistic missiles. 

Bui the Americans said Tuesday 
that the Soviet negotiators had de- 
clined to gp into details on such 
questions as what weapons would 
be included in each category and 
what the ceilings should be. Never- 
theless, officials said, the Russians 


are at least dangling officially the 
possibility of moves on strategic 
weapons when the Geneva talks 
resume in the faH 

Strategic weapons are one of 
three parts of the talks. The other 
two parts deal with intermediate- 
range weapons and American re- 
search into space-based weapons, 
called the Strategic Defense Initia- 
tive. 

It was reported last week that 
Soviet officials had informally 
raised the possibility of agreeing to 
the research provided that there 
was a ban on deployment of weap- 
oos in spact The Soviet Union and 
the United States both asserted. 

(Continued on Phge 2, CoL 5) 


By Thomas L Friedman 

New York Tima See nee 

JERUSALEM — Prime Minis- 
ter Shimon Peres met Tuesday with 
two West Bank Palestinian leaden 
to discuss ways of advancing the 
Middle East peace process, govern- 
ment sources said Wednesday. 

The officials said Mr. Peres, 
Mayor Elias M. Freij of Bethlehem 
and the deputy speaker of the Jor- 
danian senate. Hikmai al-Masri of 
Nablus, discussed a range of Arab- 
Israeli topics and the economic sit- 
uation on the West Bank. 

Also discussed was the list of 
possible candidates that the Pales- 
tine Liberation Organization lead- 
er, Yasser Arafat, has submitted to 
Jordan’s King Hussein and to 
Washington for inclusion in a Pal- 
estiniao-Jofdaman dialogue with 
the United States. 

Bod) of the West Bonk leaders 
reportedly affirmed that on the ba- 
sis of their recent discussions in 
Amman they were certain that the 
PLO was now willing to cooperate 
with Jordan and enter into negotia- 
tions for peace. 

Mr. Peres is understood to have 
responded that any PLO participa- 
tion in peace talks would only 
make Isaeli participation impossi- 
ble. 

Describing the talks with the Is- 
raeli prime minister. Mr. Masri said 
on Israeli radio that Mr. Peres 
“wants negotiations and we want 
negotiations. Bui there are differ- 
ent views about iL” 

Mr. Freij declared that the ses- 
sion dealt with the economy and 
“prospects of beginning a political 
dialogue that would find an end to 
this tragic situation, that would 
bring peace to all people in the 
country” 

The three-hour meeting at the 
prime minister’s Jerusalem resi- 
dence was shrouded in secrecy. 
There was no advance announce- 
ment and word of the session only 
leaked out Wednesday morning. 

Mr. Masri left early in morning 
lor Amman, ostensibly to take pan 
in a meeting of the Jordanian Sen- 
ate, but possibly also to convey the 
essence of his discussion with Mr. 
Peres to Jordanian and Palestinian 
officials. 

It was not dear why the sub- 


stance of lhe meeting was kept so 
secret, since Mr. Peres has met with 
both Mr. Masri and Mr. Freij be- 
fore. and there is nothing unusual 
about such con tacts. It may have 
been purely to give the meeting on 
air of drama. 

In fact, judging from discussions 
with several senior officials, the 
meeting between Mr. Peres and the 
West rank leaders, both of whom 
are political conservatives, was 
more important for its symbolism 
than anything actually discussed, 
particularly since Mr. Freij and Mr. 
Masri are not empowered to nego- 
tiate for anyone. 

By meeting with Mr. Freij and 
Mr. Masri. both noted Palestinian 
“moderates" not directly associat- 
ed with the PLO. Mr. ’Peres was 
also signaling Washington and 
Amman what xind of Palestinians 
he would like to see across the ne- 
gotiating table. 

It appears, however, that neither 
Mr. Masri nor Mr. Freij is on the 
list of possible Palestinian negotia- 
tors submitted by Mr. Arafat. 

Key Israeli cabinet ministers, led 
by Mr. Peres and Foreign Minister 
Yitzhak Shamir, held an unsched- 
uled meeting Wednesday to discuss 
the latest developments in the Mid- 
dle East peace process. Israel Army 
Radio reported that (be cabinet 
“was presented" with a “tentative 
list of n ames ” that the PLO has 
suggested take part in any Jordani- 
an-Palestinian negotiating delega- 
tion. 

Israeli officials said that no polit- 
ical figures living in the West Bank 
or Gaza Strip were on the list and 
that virtually all of the names men- 
tioned, most of them little-known 
figures, were connected in one way 
or another with the PLO. 

Blast Hits Nicosia Home 

7>f Associated Press 

NICOSIA < — A bomb exploded 
eariv Wednesday at the home of 
Mafath Abdo, a representative of 
die Palestine liberation Organiza- 
tion, blowing out the windows and 
slightly injuring Mr. Abdo's father- 
in-law. the police said. 

They said nobody immediately 
claimed responsibility for the ex- 
plosion. 



At Women’s Meeting, 
Schism Over Abortion 


1 


The now-familiar mushroom doud blossomed off Bikini after a test in the Pacific Ocean. 

Los Alamos: 40 Years of Nuclear Age 






By Malcolm W. Browne 

New York Times Service 

T OS ALAMOS, New Mexico — 
-L/ Forty yeah ago this week the 
flash of a hundred suns seared the 
New Mexican desert, the sand at 
Trinity Site fused into jade-green 
glass and the nuclear age was bora. 

Within 24 days after the Trinity 
lest on July 16, 1945, two nuclear 
bombs, s mall arid primitive by to- 
.-day’s standards, had destroyed two 
r wje Japanese rilies, lulled 106,000 
people and injured at least 100,000. 
y. The innocuously named Manbat- 
ton Engineer District, an uitra- 
secret scientific and industrial com- 
nmniiy, had unleashed the atomic 
bomb, forever changing the nature 
- \0 of war and politics. 

Forth years have elapsed without 
. • > nuclear war, and neither the Soviet 

.. * Union nor the United States basset 
, off an above-ground nuclear lest 
explosion since 1963. To be sure, 
...■ A* menace of nuclear holocaust 
. :? still induces nightmares, but at Los 

' . Alamos, New Mexico, where nuck- 

' weapons were invented and are 

stiQ being perfected, people have 

! s? karaed to live with the bomb and 

‘’Ir* * ' ' 




^ r- ■?*' 


to prosper from iL 


Founded in an aura of utmost 
secrecy and urgency in 1943, Los 
Alamos was the home or roecca in 
World War II of a large proportion 
of the greatest physicists of the 
20th century. Some had been born 
American citizens; some were refu- 
gees or immigrants from Europe. 
There were Christians, Jews and 
atheists among them, leftists and 
conservatives, prima donnas and 
team workers. 

The Los Alamos pantheon in- 
cluded J. Robert Oppeobeimer, the 
charismatic director of the labora- 
tory; Edward Teller, the brilliant 
Hungarian immigrant who became 
Qppenbamer’s ideological foe and 
won renown as the father of the 
hydrogen bomb; and Enrico Fer- 
mi, the legendary refugee frofr 
Mussolini’s.' fascism whose many 
accomplishments included build-, 
ing the first nuclear reactor, at the 
University of Chicago. There were 
Robert Wilson, who years later 
founded the Fermi National Aca.1- 
eraior Laboratory; Hans Bethe, the 
great German-bom theorist; and 
John von Neumann, whose think- 
ing has profoundly influenced as- 
tronomy and other sciences. 

Also affiliated with the laborato- 


ry were ErnestO. Lawrence, inven- 
tor of the cyclotron; Niels Bohr, the 
giant of quantum mechanics and 
atomic theory; Richard Feynman, 
later to become one of the great 
theorists in high-energy and parti- 
cle physics; Glenn Seaborg, cre- 
ator-discoverer of phiionmm and 
other man-made dements; and Leo 
Szilard, George Kistiakowsky, Vic- 
tor F. Weasskopf and scores of oth- 
er leading {dentists. 

In the military secrecy and isola- 
tion of Los Alamos, they were de- 
prived of creature comforts, and 
had to change their names and con- 
ceal their identities to prevent word 
of their work from leaking out In a 
pressure-cooker atmosphere they 
complained, argued, worked ic 
hours and sometimes agouh 
about the ghastly character of the 
weapon they were forging. But they 
were united in thdr belief that the 
United States was racing Nazi Ger- 
many to develop the atomic bomb. 

' After the war, Los Alamos 
changed radically. The superstars 
departed; many have since died. 
Some, like Dr. Oppenheimer, 
would probably be horrified to 

(Continued on Page 7, CoL 1) 


Elaine Sdolino 

‘ew Turk Times Service 

NAIROBI —The exchange took 
place in a family planning work- 
shop at the nongcnrernmeatal fo- 
rum of the United Nations Decade 
for Women conference. An Indian 
who opposes abortion told the au- 
dience that the way to control pop- 
ulation was “to get men to wan, to 
get their sexual desire under con- 
trol” 

An American woman shot back, 
“What if we want sex, honey?” 

The incident panted up the di- 
chotomy between those at the con- 
ference who assert that women 
must control their own body and a 
small but weU-organized group 
that calks abortion murder and any 
artificial method of contraception 
“abortofadenu” or abortion-mak- 
ing. 

Thai dichotomy, in turn, reflects 
several divisions: between, for ex- 
ample, industrialized nations, 
whore women usually have access 
to a variety of contraceptive meth- 
ods, and developing countries, 
where snch means are generally re- 
stricted; between wen-financed, 
well -organized anti-abortion 
niza lions in the West and fa 
planning groups in developing 
countries, which assert that limn- 
ing family size is crucial to econom- 
ic development and sometimes to 
survival hseif. 

“The fact of the matter is all the 
developed countries are using con- 
traception in planning thdr fam- 
ilies,” said Avabai B. Wadia, presi- 
dent of the International Planned 
Parenthood Federation. “Why 
should there be any objection if 
developing countries voluntarily 
take up these programs and want 
smaller families that they can care 
fort” 

In Africa, the debate over popu- 
lation control is complicated by the 
fact that many women oppose the 
use of drags and are hostile to val- 
ues they see as foisted on them by 
the West “We are fighting the 


common belief that the white man* 
is trying lo limit the number of our 
" ;” said Joyce Nkausu, an of- 
L with the Zambia Family Plan- 
ning Association. 

Several groups that oppose abor- 
tion and artificial contraception 
have attended family planning 
workshops at Forum *85 — - an as- 
sembly of nongovernmental] 
coinciding with the official 
for Women conference — to 
counter the argument that the de- 
veloping world must have access to 
all varieties of family planning, 
from sex education to sterilization. 
They are drawing on the resources 
of the Roman Catholic Church in 
Kenya, and some are staying with 
local religious orders. 

Because abortion, which is usu- 
( Continued on Page 2, CoL 7) 



INSIDE 

■ The HumBiiig of the marines 

wounded after the 1983 bomb 
attack in Beirut has been eritid- 
zed. Page 3. 

■ A conciliatory statement by 
the Khmer Rouge on Cambodia 
has beat questioned by Prince 
Norodom Sihanouk. Page 5. 

BUSINESS/FINANCE 

■ BankAmerica had a loss of 
$338 million in the second quar- 
ter, largely because of increases 
in loan provisions. Page 13. 

SPORTS 

■ The National League beat the 

American League. n-I, in 
league baseball’s 56th 
Game, fage 19. 

SPECIAL REPORT 

■ South Korea's president has 
set an exacting agenda in a peri- 
od of transition. Page 9. 


The AuooaM Rian 

Two Palestinian leaders. Mayor Elias M. Freij of Bethlehem, right, and Hikmat al-Masri, 
center, after talks with Prime Minister Shimon Peres. Shmuel Goren, (eft, is the Israeli 
official responsible for the West Bank. In the background is Mr. Peres's aide, Uri Savir. 

Risky Job: Journalism in Philippines 


By Steve Lohr 

New York Tima Service 

ILOILO, Philippines — Sever- 
ino Arcooes, the star commentator 
and manager of radio station 
DYFM, is ready to leave the office 
on an afternoon reporting foray. 

He stands up, yanks a .45-caliber 
pistol out of his desk drawer, scuffs 
it into his beh and says, “O.K.. let's 
gp hunting for news." 

For additional firepower, Mr. 
Aicones has an M-16 rifle. Two 
bodyguards are his shadows. Death 
(brats, he says, are part of the 
daDy routine. 

He has rarefy slept at home re- 
cently for fear of placing his family 
in danger. He sppds the nights on 
a cot in the station’s well-guarded 
offices or at the homes of friends — 
a different place every nighL A 
change of clothes is on the book- 
shelf behind his desk. 

Such is the life of a muckraking 


journalist at a provincial radio sta- 
tion in the Philippines. 

“It's a good life, satisfying and 
exciting,” says Mr. Arcones, 31 
“But it can be dangerous some- 
times.” 

Things have beconicmcreasiagfy 
dangerous for Filipino journalists 
in recent months. Eight have been 
killed this year, and another is 
missing and presumed dead. Seven 
journalists were slain last year, 
compared with four in the previous 
seven years. 

Many of the victims, including 
five since the start of last month, 
have been radio commentators in 
the provinces. Among them was 
Eduardo Suede, a close friend and 
colleague of Mr. Arcones at 
DYFM, who was shot at a restau- 
rant July I. 

The death count this year in the 
Philippines puts it “way ahead of 
other countries,” according to Mir- 
iam Lacob. an administrator for 


the Committee to Protect Journal- 
ists, a nonprofit organization based 
in New York. The group wrote to 
President Ferdinand E. Marcos last 
month, appealing to him to protect 
journalists in the Philippines and to 
cap lure and prosecute their killers. 

At a time of growing opposition 
to the Marcos government and an 
increased willingness by Filipino 
reporters to report oo sensitive sub- 
jects. (he slayings have brought 
charges that the government is be- 
hind the killings, frying to stifle 
dissent 

"For the military, this is the most 
expedient way of getting rid of a 
critical press.” said Antonio Nieva, 
president of (he Philippine Nation- 
al Press Oubi "The ktllingc elimi- 
nate a few people and intimidate 
many others.” 

Although killing journalists may 
not be a government policy, Mr 
Nieva said, senior officials an indi- 

(Cootinued oo Page 2, CoL 1) 




■y-c'K 


• 


i 







Page 2 


INTERNATIONAL HERALD TRIBUNE* THURSDAY, JULY 18, 1985 


Murder of a Child in Rural Hamlet Obsesses France 


By Richard Bernstein 

New York Times Service 

LEPANGES, France — Not many 
Frenchmen had heard of the Vologne River, 
a small, pretty stream flowing amid verdant 
fields and woods beneath this mini hamlet. 

Ldpanges itself —amain road, three caf6s, 
a newspaper stand and some orange- tiled 
houses — was just another village in what 
Parisians, often with derision, call “la France 
pmfonde,” literally “deep France,” where not 
much ever happens. 

But the river and the town are on the pages 
of every newspaper, as the sites of a drama of 
crime, revenge and apparent madness. 

Nine months ago, at a bend in the Vologne 
just downstream from Lfcpanges, 4-year-old 
Gregory Vdemin, Us hands and ankles 
bound with string, was found drowned. 

The discovery of le petit Gregory, as he 
soon came to be known, unleashed a kind of 
national passion in France. 

It has been the subject of numerous maga- 
zine covers, of daily television broadcasts, 
full-page newspaper accounts, satires and 
parodies, and of published reflections by 
famous novelists mid retired police detec- 
tives. 

It is a mystery and a real-life melodrama 
that has transformed the members of a large 
and unfortunate working-class clan into na- 
tional figures. 


“The Petit Gregory affair has become an 
obsession," said Philippe Sdguin, the mayor 
of Pp inal . the major urban center of the 
region about 200 miles (320 kilometers) cast 
of Paris. “It has contaminated everything. 
You can't go anyplace in France and say 
you're from this {art of the country without 
being identified with the Gregory affair. 

"The area has become like Beirut,” he 
said, “in that there are journalists who are 
more or less permanently stationed here 
now. The affair has all the elements of a great 
dramatic serial, of a kind of entertainment, 
all against the background of a rural region 
with its own mystique of remoteness and of 
the forest" 

The dements are these: For months before 
Grigory's death, the extended dan of the 
ViHemin family from lipanges and sur- 
rounding towns was plagued by anonymous 
letters and telephone calk threatening “re- 
venge” against Jean-Marie ViHemin, a local 
factory supervisor and Gregory's father, for 

some unknown offense. 

On Oct 16, shortly after 5 P.ML, Grfegoiy 
disappeared from in front of his bouse. Han 
an hour later, an anonymous caller an- 
nounced to the boy’s unde, “I have taken the 
boy of the chief,” meaning Grigory’s father, 
the factory supervisor. “I have thrown him 
into (he Vologne.” 


The next day. the last in the series of 
anonymous letters arrived in the mail at the 
ViHemin home. It said simply, “1 have taken 
revenge-” 

Who killed Gregory? The police and pros- 
ecutors have accused one individual and 
then another of the crime, feeding the sensa- 
tionalism of the press. 

Firsta cousin of Grigory’s father. Bernard 
Laroche, was identified by handwriting ex- 
perts as the author of the anonymous letters, 
of which there were four in all A 15-year-oM 
niece of Mr. Laroche, Muriel, came forward 
and said she had men him cany out the 
crime. Mr. Laroche was indicted and taken 
to prison. Briefly, the case seemed solved. 

Two days later, a tearful Muriel, appear- 
ing on television, recanted her testimony, 
suggesting along the way that it had been 
coaxed out of her by local police who were, 
apparently, too eager to find a .culprit. A 
handwriting analysis that had purportedly 
incriminated Mr. Laroche was rejected on 
procedural grounds. Several weeks later, be 
was freed. 

More surprises followed. Two new hand- 
writing analyses, from anonymous samples 
taken from all the members of the Vllkmm 
and Laroche dans, in cheated that the author 
of the anonymous letters, including the one 
that arrived the day after Grigory’s killing, 


was none other than Grigory's mother, 
Christine Vfllennn. 

In March, as France confronted the notion 
that a mother might have killed her own 
child, Grigory's father shot and killed Ber- 
nard Laroche 

There was more. Mis. ViHemin. indicted 
for murder and imprisoned at the beginning 
of My, dedaredanunger strike. After sever- 
al days of intense national attention. Mrs. 
ViUemm, who is six months pregnant, start- 
ed eating again. On Tuesday, die was re- 
leased pending further investigation. 

L6paogcs is tom, hs inhabitants say, into 
two factions: those who believe in Mrs, VtOe- 
min's guilt and those who bcHcvc in her 
innocence. Meanwhile, at the graveyard be- 
hind the simple dmdi, a stream of tourists 
comes daily to view Grigory’s jpave, be- 
decked with flowers, adorned with whim 
marble plaques and his photograph. 

Hie site has become almost an obligatory 
stop for passing cam, as have the Yfflamns* 
empty borne nearby, the post office on the 
mam road below, where the anonymous let- 
ters were postmarked, and the bead in the 
Vologne where Grigory was found. 

“1 came because it interested me,” a visitor 
at the grave said. “How can you not be 
interested, after all the talk in the newspa- 
pers and on television? It was impossible to 
stay away." 



Gregory Vffiemin 



Christine VOlemin 


Reagan’s Cancer Where It Fits m Polyp System 


Cross section of bowel and various types of polyps that 
can develop there. Five-year survival rates are for post- 
surgical removal of polyps. Dukes system, commonly 


Benign polyp- 


used to designate extent of cancer spread, ts named for 
Dr. Cuthbert E Dukes, a pathologist in London who re- 
ported his classification scheme in 1 932. 

-Cancerous types 

-Malignant polyp 


France Pledges Eureka 
A Billion Francs as Start 


gpfflfl 

^~ Mimcle~==S 

G row th s of the type 
removed from Presi- 
dent's bowel Friday are 
usually riot cancerous 
They can. however, be- 
come large enough to 
require major surgery 


DMiesA is limited to Discos B is confined 
the bowel wall Survival to the muscle wall in the 
rate: More than 90 per- ' bowel and sometimes 
cent. to surrounding fat This 

‘type of polyp was re- 
moved Saturday from 
the President. Survival 
rate: Ranging from 50 
to 80 percent. 


Dirices C involves • 
cancer spread to the 
lymph nodes Survival 
rate: About 40 percent 


By Axel Krause 

International Herald Tribune 

PARIS — President Francois 
Mitterrand {Hedged a French gov- 
ernment contribution of 1 billion 
francs (about SI 16 nnHion) on 
Wednesday as a first step to fi- 
nance the program he pro- 

Europe’s response totedmological 
challenges posed by U.S. research 
for a Awf&nse in space against mis- 
siles. 

Opening a meeting of high-level 
officials from 17 European coun- 
tries, Mr. Mitterrand conceded that 
there were numerous financial and 
organizational obstacles to Eureka. 

But he urged foreign ministers 
and minis ters of research to sup- 
port the program “to assure the 
technological of Eu- 

rope,” notably with regard to the 
United States and Japan. 

Mr. Mitterrand termed the pro- 
ject a “dedsve” step for Europe. 

More cautious reactions, paitic- 


Th* Nm> York T„ 


The State of the President’s Health: Uncertainty' Will Persist 


(Continued from Page 1) 
been riven a greater than 90 per- 
cent chance of cure. 

Cancers, by definition, can 
spread from a local site where they 
originate to almost any other area 
in the body. Bra each type of cancer 
tends to have its favorite targets. 
Colon cancers tend to spread most 
often to the fiver, but they also can 
seed in the lungs, among other 
places. 

Doctors lack the techniques 
needed to detect the earliest steps 
of the spread of a cancer from one 
site in the body to another. The 
process leads to what are known as 
metastases, the formation of satel- 
lite growths elsewhere in the body, 
and it brans with the escape of a 
few cells from the original site. The 
speed with which metastases form 
can vary among individuals who 
have the same type of cancer, and 
why that is the case is one of the 
biological mysteries of cancer. 

Tims, if any cancer ceils are in 
Mr. Reagan's body today, and they 


begin to grow somewhere outside 
his colon, their presence wfll not be 
detectable unless they divide and 
multiply en o u g h times to produce 
new growths- Such damage would 
not be evident for months or years, 
and the speed of that process de- 
pends on the biological characteris- 
tics of Mr. Reagan s tumor, charac- 


teristics that medicine cannot dow 
measure with precision. 

Shortly after Mr. Reagan folly 
recovers from his cancer operation, 
he will begin to undergo the series 
of tests that his doctors wfll use to 
determine if he remains free of can- 
cer. The tests they win use are the 
standard ones that doctors have 
developed over recent years to de- 
tect smaller and smaller primary 
cancers and metastases. 

Standard X-rays wfll be part of 
toe procedure, bm there wfll also be 
computerized CAT- scan X-ray 
tests and radioisotope scans that 
can detect tumors and other abnor- 
malities in the liver and other or- 
gans. 

Mr. Reagan’s blood wfll be test- 
ed serially at about two-month in- 
tervals to measure the amounts of a 
tumor marker, caranoembiyonic 
antigen, orCEA. Its major use is to 
follow patients like Mr. Reagan 
who have bad curative operations 
for colon cancer. A rise in the 
amnimt of the antigen could indi- 
cate recurrence of the cancer. 

He will also have thorough co- 
lonoscopic examinations in six 
months and in a year. 

Colon cancers have three major 
ways of spreading within (he body. 
One is by direct invasion of tissues 
in the areas adjacent to the primary 
cancer. A second is through the 
lymph system, a collection of tiny 


tubes glanHt that parallel and 
eventually empty into the circula- 
tory system. The third is through 
the bloodstream. 

Mr. Reagan's doctors found no 
evidence that cancer cells had in- 
vaded the nearby tissues or that 
they had spread to any of the 15 
lymph nodes that were removed 
along with the two-foot section of 
bowel that was cut out In the cancer 
operation. 

If the pathologists had seen can- 
cer cells in the lymph glands, it 
would have i n dical e Q that the cells 
might have escaped to begin to 
growing elsewhere. But none were 
seen, the doctors said. 

Mr. Reagan’s two previous be- 
nign polyps were discovered 
through a proctosigmoidoscope 
test that examines about one-thud 
the length of the colon, the part 
where most cancers arise. 

Thai is why the use of long co- 
lonoscopes that can examine the 
entire length of the colon, a dis- 
tance of about six feet (two meters), 
is so valuable. They rdy on fiber 
optics that allow light to bend 
around corners so that doctors can 
see the entire colon. 

Cdonoscopists take great care to 
avoid complications such as bleed- 
ing and piercing the wall of the 
bowd. because they can result in 
medical catastrophes. These prob- 
lems occur in fewer than 1 percent 


Reporting for Radio Bombo Is Risky Business 


(Continued from Page 1) 

redly condoning the slayings by 
not ensuring that the cases are fuHy 


In the past two years, only one 
slaying of a journalist has been 
solved. In that case, a military man 
was arrested for the killing in No- 
vember of Walter Sisbrenio, a 
newspaper reporter. No motive for 
the slaying has been given. 

This month. Defease Minister 
Juan Ponce Emile ordered addi- 
tional security for reporters and 
said investigators should make ex- 
traordinary efforts to solve the re- 


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cent killing s. But Filipino journal- 
ists remain skeptical. 

“1 don’t think there’s going to be 
any solution to these cases/* Mr. 
Nieva said. 

Even with dfligent effort, several 
of the recent killings would proba- 
bly be difficult to solve. Some of 
those killed were part-time journal- 
ists, a mainstay of low-budget pro- 
vincial radio stations, and were also 
lawyers, politicians or business- 
men. They may have been killed by 
enemies acquired in their other 
walks oflife. 

The killings coincide with a gen- 
eral decline in law and order, fed by 
economic hardship, widespread 
corruption, a growing Communist 
insurgency ana military abuses. 

“These murders are pari of a 
national deterioration,” said Ni- 
mez Cacho-Olivarcs, a Manila 
newspaper columnist. “But the 
most disturbing thing is thatjour- 
nafists are deariy no longer off lim- 
its for kill ere." 

DYFM, which has sp ecialized in 
covering graft and corruption 
cases, is known to its listeners as 
Radio Bomba A bombo. in the 
! local dialect, is a big drum. A bass 


# UNIVERSITY 
DEGREE 

iwJiaors • m«tb?s • Docrawi 

For Wb*. Ornitinfe Uh ftmwtatw. 


Sane (totalled resume 
for free evaluation. 

PACffK WESTERN UNIVERSITY 

600 N. Sepulveda BhnL, 

Las Aittalea. California 
90949 . Dept. 23, U.&A. 


drum rests beside the announcer’s 
seat in the broadcast booth. 

“When yon say something like; 
‘And this government official has 
stolen 30,000 pesos from the pub- 
lic,' that’s when you fait the drum,” 
Mr. Arcooes said. On his show, 
“Zona Libre,” which is broadcast 
six times a week, Mr. Arcones says 
be bangs the drum about 10 times 
each night. 

Among provincial stations, 
Bombo radio is consistently men- 
tioned as the leader for quality and 
professionalism. Its investigations 
are well documented, thorough and 
relentless, 

When Mr. Arcones exposed graft 
in a nearby town, the town’s mayor 
came to (Ik station, sobbing, and 
pleaded with Mr. Arcones to stop. 

“No way,” he was told. 

Bombo radio was the only pro- 
vincial station to cover dig Manila 
funeral of the slain opposition lead- 
er Benigno S. Aquino Jr. in 1983. 

Bombo radio can afford such 
moves because of its advertising 
revenue. It is tuned in by nearly 
three-fourths of the market in rela- 
tively prosperous Hoik). 

There have been some reporiori- 
al disappointments. When Kon- 
stantin U. Chernenko, the Soviet 
leader, died in March, Mr. Arcones 
called the Kremlin for comment. 
He figured someone there would 
speak E ngl is h , he says, “but all we 
got was nyet, nyet, nyet," 

■ Mayor, 4 Guards Are EQfed 

The Philippine military said that 
suspected Communist rebels shot 
to death a town mayor and four 
bodyguards in the third killing of a 
mayor by guerrillas in five days. 
The Associated Press reported 
Wednesday from Cagayan tie Ora 


of the examinations carried ouL 

In not using the colonoscopc un- 
til last Friday, Mr. Reagan's doc- 
tors appear to have been r hinting 
conservatively. . *. . 

Dr. Edward Catlau. a gastroen- 
terologist who detected Mr. Rea- 
gan's first polyp at Betbesda Naval 
Medical Center, has said that be 
and other members of the team 
gave considerable thought to rec- 
ommending that Mr. Reagan un- 
dergo a colonoscopy in 1984. 

But he said the doctors did not 
do so because Mr. Reagan’s polyp 
was of an inflammattuy, not glan- 
dular, type and thus not statistical- 
ly rdated to cancers elsewhere in 
tiie bowd. Also, tests showed no 
blood, a passible indication of a 
colon cancra, in Mr. Reagan’s 
stools at that time, the White 
House has said. 

One puzzling aspect of Mr. Rea- 
gan’s case is why, once his doctors 
decided not to do a colonoscopy, 
they did not recommend a barium 
enema instead. - 

A more vigorous approach in us- 
ing colon oscopes to examine the 
entire colon reflects a radical shift 
in medical thinking. A few decades 
ago most doctors believed that 
bowd polyps rardy, if ever, turned 
into cancer. 

Now the prevailing befief is that 
most, if not all, cancers of the colon 
arise from polyps. 


Test Delay 
Is Denied 

(Continued fro® Page 1) 
Reagan could be bleeding from a 
point farther np the colon, a find- 
ing that is not definitive but that 
many cancer specialists say war- 
rants an imraediflte, complete ex- 
amination of the colon, either by 
means of a barium enema or a 
colonoscopy. 

Ingfp-^H nf insisting nn an imro e- 

diate full colon exam, the presi- 
dent’s doctors merely recommend- 
ed such a procedure when it was 
convenient. White House officials 

have said that the press of events in 
April and May lea (hem to sched- 
ule the examination for Jane, bat 
that the hijacking of Trans World 
Airlines Flight 847 poshed it off 
again until last week, nearly four 
months after it was recommended 

Although cancers of the colon 
grow more slowly than most otto 
forms, doctors know that any delay 
increases the risk 

Attention has also turned to the 
quality of medical care available to 
the president. 

Although medical experts not 
connected with the case have ar- 
gued that the president of the Unit- 
ed States ought to receive the most 
prudent and active medical services 


expressed by West German, British 
and Swiss officials. They said they 
supported the basic purpose but 
declined to commit money. 

Mr. Mitterrand said that the 
French contribution in the fim 
year would be mainly in theformof 
government subsidies and loans. 

The budget lor Eureka has been 
estimated at 55 WHon francs over 
five years. An aide to Roland Du- 
mas, France’s external relations 
minister, said “most of the esti- 
mates are very flexible and do not 
mean much, smee most of the spe- 
cific projects have not yet been 
dearly defined or decided.” 

France has focused on five sec- 
tors for development: computers, 
(decommumcations, robotics, new 
materials and biotechnology. 


specific projects had been submit- 
ted by German companies, which, 
he sand, should help in the financ- 
ing.” 

Mr. Genscher said funds could 
also be raised through the EC bud- 
get unit national »nd fnlfmalinnal 
financial markets. 

“We are definitely not talking 
about setting up agovenmient-sub- 
skfized program first, as Mr. Mit- 
terrand has suggested,” said a se- 
nior West German diplomat. 

pected to be rebedulofb”^ fall, 
probably in Bonn, to pursue such 
questions as financing and involv- 
ing industrialists. 


Soviet Offer Acknowledged 


(Continued from Page 1) 
however, that such a proposal had 
never officially been made. 

Tuesday, the White House state- 
ment said that “regrettably, the So- 
— viet position has remained en- 
trenched, with no movement in 
their formal positions.” 

A State Department official un- 
derscored that the statement had 
said “formal” position, and he add- 
ed that “if the Russians are going to 
be more flexible is the future, only 
lime wfll teH but we can’t be in the 
position of commenting on infor- 
mal comments possibly raised by 
some Soviet offidaL” 

Lany Speakes, the White House 
spokesman, discussing the new So- 
viet concepts, said that “the meth- 
od of aggregation proposed in these 
concepts seems designed to favor 
preservation of the Soviet Union’s 
primary area of advantage, that is, 
m prompt, hard-target km capabfl- 
ity , the most worrisome element in 
the current strategic equation.” 

The United Slates says that the 
Soviet Union's 10- warhead, land- 
based missiles have gained in accu- 
racy in recent years and coukl de- 
stroy American land-based 
missiles. The United States would 
like to see the Soviet Union elimi- 
nate about a third of its missile 


warheads and limit half of the rest 
to land-based misfiles. 

Mr. Speakes said efforts by the 
American ddegation in Geneva “to 
did! Soviet answers to our ques- 
tions about these concepts, with 
regard to issues such as numbers, 
caKngs and rales of possible reduc- 
tion have thus far essentially gone 
unanswered.” 

There were reports last week that 
Soviet officials had told visiting 
American members of Congress 
that Moscow would consider a 25- 
percent cat across the board in mis- 
sile launchers and warheads, the 
first time the Russians had men- 
tioned explicit warhead limits. But 
officials said Tuesday that so far 
the Soviet fide had not formally 
made that offer at Geneva. 

■ Italy, Japan Discuss SDI 

Italy and Japan have insisted 
that the United States consult its 


that the United States consult its 
allies and negotiate with Moscow 
before installing any defense sys- 
tem in space, a spokesman for 
Prime Minister Yasuhiro Naka- 
sone of Japan said Wednesday, 
Reuters reported from Rome. 

The Strategic Defense Initiative 
has figured prominently in Mr. Na- 
kasone’s meetings with Prime Min- 
ister Bettino Craxi and Foreign 
Minister Ginlio Andiootti, offidms 
of both sides said. 


SSSi Tests on Recorders 
Fail to Explain Jet Disaster 


possible, White House physi cians 
have tended to say that Mr. Reagan 
should be treated mudi the same as 


any other patient 
During Mr. Reagan’s first term, 
the new president, who bad under- 
gone annual pfmical exams for de- 
cades, suddenly stopped having 
them. When the first polyp was 
found, it was during Mr. Reagan's 
fim complete exam in two and a 
half years. 


The Asrcdated Frets 

BOMBAY — Aviation experts 
said Wednesday that p reliminar y 
tests on the voice recorder of an 
Air-lodia jetliner had failed to ex- 
plain the June 23 crash ri»u trifled 
329 people. The analysts continued 
working to filter out background 
noise on the tapes. 

Urey said more complete analy- 
sis of a second electronic recorder, 
which contains flight data, may 
take up to two weeks. Sabotage is 
suspected in the crash, (he third- 
worst disaster in aviation history. 

The two recorders were recov- 
ered last wed: from tiK wreckage in 
the Atlantic off the coast of Ire- 
land. 

[The Press Trust of India, quot- 
ing sources, reported Wednesday 
that computer printouts of the 
flight-data recorder showed that an 
explosion had ripped through the' 
plane shortly before it crashed. 


Reuters reported. There was no of- 
ficial confirmation. 

[Graham Leroy, a UJS. analyst 
from Lockheed Aircraft Services 
who is waiting on the analysis of 
the flight recorder, later said the 
report was incorrect. Nothing had 
been established, he said, except 
that the flight recorder “is work- 

Justice B.N. Kiipal, chief of the 
Indian gov ernment inquiry in to the 
crash, said he had listened to the 
cockpit tape from the flight but was 
staD unable to say what caused die' 
jet, which was en route from Cana- 
da to India, to plunge into the At- 
lantic. 

&N. Sharma, secretary to the 
court of inquiry and an official in 
the Ministry of Qvfl Aviation, said 
Tuesday that conversation an the 
tape “came to an abrupt and sud- 
den end" moments before the 
crash. 



WORLD BRIEFS # al _ 14 . 


U.S. Allies Asked to Fight Terrorists 

HONOLULU (WP) — Secretary of Spue George P. Shultz said 
Wednesday that the United States and its allies must "fight bade" against 
international terrorists and those who offer them safe haven, and suggest, 
ed that the anti-terrorist struggle had become an alliance rcspraisiE&rtj, 
In an address to the Easi-West Center ending a [ wo- week trip lo 
Southeast Aria and the Pacific, Mr. Shultz also criti c ized New Zealand in 


Sir Geoffrey Hcrwe, Britain’s for- 
eign secretary, who had previously 
expressed support for Eureka, told 
the meeting that Eureka projects 
sbotild be oriented to the require- 
ments of toe market worldwide; 
and that the choice of projects 
should be op to industrialists. 

“Tt will be for Europe’s industri- 
alists to identify the specific mar- 
ket-related projects within these 
broad sectors,” he said. 

Sr Geoffrey also emphasized 
that the main role of European gov- 
ernments and primari- 

ly the European Commission, 
should be to help create “toe right 
environment for the naitm, winch 
in Europe is stiH fragmented.” 

He did not say how Britain 
would help finance Eureka pro- 
jects, adding: ‘There is no lade of 
financial resources in Europe. Eu- 
rope’s private-sector financial insti- 
tutions are strong, but they need to 
be mobilized behind Eureka.” 
Haas-Dietrich Genscher, the 
West German foreign minister, 
said that Bonn would consider 
helping finance projects, but on a 
case-by-case find only after 


not know whether toe torn was carrying, nuclear weapons. 

State Department officials said Mr. Shultz's address was a negor effort 
to define the nature and responsibilities of the alliance structure that he 
been a keystone of U.S. foreign and defense policy since World War II. 
Speaking of what be called “toe international terrorist network." Mr. 
Snoit 2 declared, “We cannot allow tire enemies of our wsy of life to attack 
each ally one by one in the hope that we will be divided and tbs 
incapable of coordinated response.” 

Letter Reveals U.S. Plan in Honduras 

WASHINGTON (WP) — The U.S aimed forces expect to keep a 
1,200- man task force on duty in Honduras “for toe next three to five 
years" and are already working on detailed engineering plans for the year 
1990, according to an internal Defense Department document. 

A letter from an Air Force dy 3 engineering officer at US. Southern 
Command headquarters in Panama to the Tactical Air Command at 
Langley Air Force Base, Virginia, contradicts Reagan adminisratioc 
assertions that U.S. forces in Honduras, which train Honduras troops 
and support military exercises, arc maintained only on a year-to-year 
basis. 

Defense Department officials said the letter reflected “the author's 
ownjflanam^assumptions" and did “not necessarily reflect U.S. or 

35 Syrians Arrive for Beirut Duly 

- BEIRUT (UPI) — Thirty-five Syrian officers arrived Wednesday to 
supervise the restoration of order in mainly Moslem West Beirut, as new 
fighting erupted along the line with East Beirut. The Syrian officers arc to 
oversee a security plan to replace Lebanese militiamen with polar 
patrols. 

Christian and Moslem militia units battled with rocket-propelled 
grenades and jeep-mounted cannon over southern sectors of the dividing 
line: Several mortar shells landed in nearby residential neighborhoods, 
security officials said. 

The Voice of Lebanon radio, operated by toe Christians, said six 
persons were injured by shellfire in the eastern area of Hazmieh. 

Meese Urges Media Curb on Terrorists 

LONDON (AP) — Attorney 
General Edwin Meese 3d said 
Wednesday that the US. Justice 
Department was considering ask- 
ing news organizations to adopt a 
voluntary code to control coverage 
of terrorist incidents. 

Speaking at a news conference 
during toe American Bar Associa- 
tion's convention here, Mr. Meese 
said such a voluntary code was 
among approaches bang studied 
after toe hijacking last month of a. 

TWA airliner and toe ensuing Bei- 
rut hostage crisis. He said he did 
not favor le gal restraints. 

The drama of toe hijacking and 
detention of American crew me n 
and passengers in Lebanon was 
used by the Shiite captors as a fo- 
rum for news conferences and live 
television a ppearances and -inter- 
views. Edwin Meese 3d 



For the Record 


Two Turkish Cypriot political groups, toe rightist National Unity 
Party, and toe leftist Communal liberation Party, which have a majority 
in the parliament of toe Turkish Republic rtf Northern Cyprus, agreed 
Wednesday to form a coalition government, party officials said. (Reuters) 
A law abolishing toe Greater London Council and six other mnmripal 
authorities in big cities controlled by the opposition Labor Party on 
Tuesday received the constitutional formality of the queen's assent. (AP) 
Santo Arabia is testing Britain’s Challenger battle tanks in its southern 
mountain region, a British official in Jeddah said Wednesday. The tests 
reportedly could lead to the purchase of tq> to 250 tanks, each wrath $1.75 
million. (Roam) 

The first elections for Hong King’s new 24-meniber legislative councfl 
wfll be held Sept. 26, toe government announced Wednesday. The 
council, along with 10 government officials and 22 persons appointed by 
toe governor, wfll help role toe territory. (AFP) 

Hie Uitfted States has protested to toe Soviet charge d'affaires a 
Washington over thehgory to a U.S.Aj3ny colonel mEart Germain; who, 
was hurt when a Soviet Army truck rammed the vehicle in which he was 
traveling last wee k en d , a Stale Department spokesman said Wednesday. 


MStoaB S. Goriachev has replaced toe political director of toe Soviet 
armed forces, Alexei A. Yepishev, 77, with Alexei Iizicbev, a man in las 
mid-SQs, Soviet sources said Wednesday. The move followed a series rtf 
other top-level changs over toe past week. (UtS) 

Schism at Women’s Meeting 


(Continued from Phge 1) 
ally toe focus of their atiarfre is 
illegal in most of the developing 
wortd, their primary target at the 
women’s conference is the Interna* 
tjcmal Planned Parenthood Federa- 
tion, the largest noagovamnental 
family piammg< organization in toe 
world, with affiliates m 120 coun- 
tries. 

They condemn artificial contra- 
ception as immoral and object to 
the federation’s sex-education pro- 
gram; charging tout it encourages 
children to pc sexually active. 

“International Planned Parent- 


hood is h 
James L. 1 
Americas 
ton. “Baa 
very easily 


d and racist,” said 
r, an official of toe 


Reflecting oo calls for popula- 
tion control in the Third World, 
Mr. Deger said, “The mam reason 
why there are food shortages and 
hH that in Africa is local problems 
in food storage and government 
policies.” 

The American Life l-m gua was 
one of the groups that successfully 
lobbied the Reagan administration 
to withhold S10 million of its $46 
unflion contribution to the United 
Nations Fund far Population Ac- 
tivities. The league cftmyvt that 
China, which receives financial 
support from the fund. Traced 
women to have abortions as part of 

its family planning program 

Officials of the Internati onal 
Planned Parenthood Federation 
denied that H advocates abortion as 
a method of family planning. 

“To call ns radst is absurd,” 
Mrs. Wadia said. 

The fedttation, which describes 
itself as a group of autonomous 
national family planning organiza- 
tions, b defmded ty most African 
governments and Western finan- 
cial supporters, which maintain 
that population control is crucial ' 
for the comment's healthy econom- 
ic development 

“Women must control their own 
Fertility, which forms the basis for 


enjoying aH other rights,” SaBy 
Mugabe, the head of Zintoabwes 
delegation and the wife of Prime 
Minister Robert Mugabe, said tins 
week. “First and foremost, oar 
bodies belong to us.” 

Many anti-abortion groups and 
family planning experts agree on 
one thing — that Depo-Provera, a 
long-lasting birth control drag 
banned in toe United States bid 
available in much ortoedevdqpng 
world, should no lcmgerbediaiib- " 
uted. The drug’s sloe effects in- 
clude excessive bleeding, weight 
gain and mood changes ; ir has been 
linked to cancer in laboratory am* 
mals. 

“We see women who say they 
would rather die than have another 
child,” said Margaret Unto, infor- 
mation and educational afficerta 
the Family Ranging. Ass o tiatiflP w 
Kenya, in explaining why the drag 
is still being used. 

The unavailability of legri abop; 
dons has led many African women 
to obtain illegal rates. In iKfflJ*. 
illegal abortions arc comnwa . 'psA 
every year thousands of wornm-ara 
admitted to Kenyat&t Nation® 
Hospital jn Najurottifraeoa?®** 
tions resulting from botched abor- 
tions, according to theMmistryof- 
Healto. ’-.-I 

■ Cosmonaut Bfaaxs US. -/- 

Valentina Tereshkova,’ a fonwr 
cosmonaut and the chief Sovia4ij 
egate at .the conference. “S*® 
Wednesday that tfartLS. QHtiaiiw 
in space we aao riry and other 
ties were major obstade^iqqntong 


Lesii* 


w>., 


~ i 

*IC.\ • •• '* 
1'-’"’ 

.V ■- 

h/Sv.-v, 


ed Press reported. ■_ '“-T- 

Her Speech, on tire torrri dW«- 
the 12-day conference, Mamed w 
United States and, its aStaf'tors 
“runaway arms race" and’sto&tfc* 
military expenditures m& j&ifr. j 
ing resources from projpaiba # " 
combat poverty, hunger, ^ 
and illiteracy. • 

Ms. Tcfeshkova.toe first ***?£ 
to make a space flight, ortitfidro j 


'fev- : '"n 










*? K ft =? S *fr y gr ' i c * «. *. ».r- 





INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


Page 3 




jWiaus! 


.T’Shl ha 


*em«fch^ D aclr' 
cr.disfi .i 



:i«o . l « 



udejf'^P 

35*a* '^h 

*« alias-. 4 “tigoi* 


=”*ofou r w, '' 

w <* 4ft 


4 


Ejy'Philip M. Boffcy ' 

New York Tuna Service ■ . 

WASHINGTON — Ibe haa- 
(fling of casualties by the US. Air 
Force after the 1983 truck bombing 
of a MarijmCorpsbamdcs in Leb- 
anon is described as medically and 
ethically indefensible by an Inter- 
nal memorandum prepared by an 
HOToffieer. 

Tne'arr force officer m charge of 
the transfer of seriously wounded 
marines to ’Europe has defended 
the operation. ’■ 


ftl l p • Unreadiness to handle suchca- 

UI HOMk sualtiesm the European Command 
rated for^s ttIW ***1 after tojorifl attacks or a larger 
fas jj... “P«ci luu. conventional war has also been 

a «paaai5i^!l: 

^«,as2SS 


conventional war has also ban 
sharply criticized in various inter- 
nal mffitaiy documents. 

Two ' memorandums 


sense ofiijnr -*rr^ nL Two memorandums written 

the Tactiai sf. , ^ W sfcotly after the Beirut bombing 

radicts R^„ 2“ ^oniw 1 reveal competition between the air 

a ~ ^lllini^ farm smA fnr Jirmv fn rare far 


1,Jinedcr: > 

« letter refuted - tk ' 
5101 ■““**!> 

Beirut ^ 

ofHceps anv.cd w*/ 
dy Mos!^ V,«-pf daa ^: 
tarot. T 
baa** 

«<utk!aen tt-iihjj 

battled with rcx-kei-i 
sou±erri 


1 force and the army to care for vic- 
thns of the bombing who were tak- 
en to Europe and to reap the pub- 
licity rewards from providing the 
care. 

In the course of the struggle, air 
force officers, who took charge of 
patient distribution, shunted the 
wounded to an overburdened air 
force hospital while better-pre- 
pared army hospitals were pushed 
into the background, according to 
one army officer. The officer, Colo- 
ad George W. Ward Jr., who 
helped coordinate the army's medi- 
cal response, sdd the am force dedi 
sions could not be defended “medi^ 


Another document, a classified 
report from April 1984 now rirco- 


Iaiing in the Pmtagon and Con- 
gress, charges that *ihe Beirut ter- 
rorist act at Oct 23. 1983, revealed 
that the U.S. European Command 
lacks a comprehensive, integrated 
plan for providing care to the vic- 
tims of terrorist attacks." 

The report has been kept secret 
over the objections of Pentagon 
health officials and the House 
Armed Sendees Committee. In 
May the commfaee charged that 
die Joint Chiefs of Staff were trying 
to classify the report as secret Sot 
because it contain^ classified infor- 
mation but because of its critical 
nature.” A summary of the report, 
containing no classification maitc, 
has been made available. < 

The terrorist bombing destroyed 
the marine barracks at Beirut Inter- 
national Airport, kflfing 241 -'mar 
rinesand wounding morethan 100. 

The Pentagon’s own official in- 
vestigation drihe bombing, headed 
by a retired admiral, Robert LJ. 
Long, gave some hint of the medi- 
cal problems in its public report, 
issued in December 1983. 

The Long report praised the “he- 
roic” effort at the scene of die 
bombing commended the per- 

formance of medical personnel at 
all of the places that handled the 
victims. But the commission ques- 


tte decision by air force officers tb 
send the evacuation aircraft to 
Rian-Mma Air Base in West Ger- 
many, which is near the Wiesbaden 
air force haemal, rather than to the 
Ramstfim Air Base, which is near 
an anny hospital that, was better 
equipped to rare for the mart seri- 
ously wounded. As a result, the 
most seriously wounded faced ad- 
ditional transport time by helicop- 
ter to reach the army bosijhaL 

Hie corantissicD saw it had 
found “no evidence that any of the 
wounded died orrecrived improper 
medical treatment 0 because of the 
way they were animated and dis- 
tributed. But ft. charged that the 
derision to land the aircraft at 
Rhem-Mmn rather than Ramstdn 
“may have increased the risk to the 
roost seriously wounded," 

The air force officer in charge of 
patient distribution. Brigadier 
General Richard D. Hansen, who 
is now retired, bis dedr 

rims and blamed any problems on 
lack erf a dear medial crwia m and 
structure in the European Com- 
mand, a unified CftnimanH that 15 
supposed to direct and coordinate 
the actions of all three zmBtaiy ser- 
vices in Europe. 

Although a medical duty officer 
at the com man d had ordered the 
evacuation aircraft to fly first to 



SPACEMEN’S REUNION — ] *•*— •*. 

flanked by Thomas P. Stafford, left, and Vance Brand, attending a ceremony at die 
National Academy of Sciences in Washington commemorating die 10th anniversary of 
die linkup in space of Soviet and VS. spacecraft. The five astronauts and cosmonauts 
who were aboard tire two craft July 17, 1975, urged a U-S.-Soviet mission to Mars. 


Senate Confirms Envoys 
With Assent of Helms 


By Steven V. Robcrrs 

New ForA Times Service 
* WASHINGTON — By over- 
whelming margins the Senate has 
confirmed three key White House 
diplomatic appointments and end- 
ed a monthlong battle with conser- 
vatives over more than two dozen 
State Department nominations. 

Richard R. Burt, now assistant 
secretary of state for European af- 
fairs, was approved Tuesday as am- 
bassador to West Germany by a 
vote of 88-20. 

Rozanne L Ridgway, now am- 
bassador to East Germany, was 
confirmed to succeed Mr. Burt. 88- 
9. 

Ed win G. Coir was endorsed, 89- 
8, as ambassador to B Salvador, 
sner-mting Thomas Pickering, who 
has been named ambassador to Is- 
rael. 

These three are among 29 ap- 
pointees who Senator Jesse Helms 
and other Senate conservatives 
maintain are too liberal. The rest 
were approved earlier by voice 
votes. 

As a price for permitting the 29 
nominees to be approved, Mr. 
Helms, a North Carolina Republi- 


can. had demanded that jobs be 
round for six conservatives current- 
ly in the State Department oi 
abroad 

Last week, when he announced 
ibai he was dropping his protest, 
Mr. Helms said he was "very satis- 
fied” with the response he had got- 
ten from the State Department, but 
be declined to elaborate. 

Two aides (o the Republican 
leadership said that Mr. Helms had 
received "certain assurances," but 
few specific promises, from the ad- 
ministration that “he would be 
consulted 1 * on future diplomatic 
appointments. 

A State Department official said 
that one of Mr. Helms's favorites, 
James L. Malone, would probably 
be named ambassador (o Belize. In 
addition, Mr. Helms’s intervention 
apparently helped John Gavin, the 
current ambassador to Mexico, re- 
tain his job. 

On Monday, Mr. Helms asserted 
that Mr. Bun, Mrs. Ridgway and 
Mr. Corr represented a liberal ele- 
ment in the State Depanmem that 
“has had an enormous impact on 
the foreign policy of .America." 


U.S. Envoy Angers French Leaders 

some of the most seriously injured cally ill'patiaiis, G encn lh ramsa Departing Ambassador Made 'Unacceptable’ Co mme nts 

1 a 1 .L., , J- J : w. I o 1 


aubiscro ^ u sions coma not oc uacnua 
irbv residecu.il naghbwjj? ‘ OT «*My- 

ted by the ChnsiiaiK M 

^crnareaiHmSs? 5 


patients to American hospitals in acknowledged that be (fid not like 
West Germany when a much closer these mstroctions and so personal- 
Britkh hospital on Cyprus was fy “took control of the casoaliy 
ready to recrive them. movement" and changed the dxreo- 

Tbe commission also diaflenged turns. 


urbon Terror^ 


Edwin Metrse 3d 


trior Pi'Jt .v-cjlz- 
-’I N. ’.vprs:- & 
ti- ■ \ -f ; J » ?-ai ;lte 
reCoJfVi..:.: .* •ihtrser 
* air «?r. f»- 


f-'. ■’ r\.t 



tht /tedeMd An 


RUSH-HOUR INCIDENT — A twin-engpre airplane was badly damaged wiren its 
engines failed soon after takeoff from Louisville, Kentucky, on Tuesday and it was 
forced to land on Interstate 65. No one was burl; bat traffic was slowed down for miles. 

Leslie C. Arends, U.S. Politician, Dies 


C/nitafPnen international 

PARIS — Hie senior U.S. diplo- 
mat in France was summoned 
’.Wednesday to the Foreign Minis- 
try to explain “unacceptable" com- 
mects by fonna- Ambassador Evan 
G. Galbraith, tndpdmg a sugges- 
tion that Communis ts be Mriiyiftd 
from political activity. 

The ministr y jyjjcj the chargh 
d'affaires, John Maresca, had been 
summoned after publication of an 
interview with Mr. Galbraith in the 
conservative newspaper Le Figaro. 

Mr. Galbraith, who left his past’ 
last week, frequently annoyed 
French officials during his four- 
year tour of duty because of candid 
comments about President Fran- 
cois Mitterrand’s Socialist adminis- 
tration. 

A ministry statement said the 


secretary- genrral of the Ministry 

Tar External Relations was sum- 
moning the chargfe d’affaires “to 
convey to hfm the unacceptable 
character of Mr. Galbraith’s com- 
ments." 

There was nd immediate com- 
ment from the U.S. Embassy. 

In the interview, Mr. Galbraith 
said Washington’s relations with 
France had improved after Mr. 
Mitterrand reshuffled bis cabinet 
last year, leaving out four Commu- 
nists who had been ministers after 
his election in 1981. 

“We newer appreciated the pres- 
tige that participation in govern- 
ment gave" the Communists, he 
said. “For us they are in a sense 


ing about France in the United 
States." 

Mr. Galbraith, a former banker, 
also issued a prediction for next 
year’s parliamentary elections, say- 
ing the conservative opposition 
would unseat the Socialists. 

“I don't know any more than the 
polls; it is dear that the opposition 
is gping to win," he said. “I nave no 
reason to believe that the polls are 
wrong." 

The former ambassador, a per- 
sonal friend of President Ronald 
Reagan, was upbraided by French 
officials soon after Mr. Mitter- 
rand’s election for deaemdng the 
president's Communist partners in 
government as “agents of a force 


outlaws and should not even take exterior to France, directed by the 
part in the electoral process. After Russians.’ 


they left, we frit more at ease talk- 


Rights Group Accuses U.S. 
Of Distortions on Nicaragua 


,fln*it> >•* 

>■:::■ 
JttJiUh r.; _ 
df up 

see-* 

iwi ZT.rvu- 
Twain -- 

cry 

to the • 
Anrywr- 

mcTscti t-i- "• 
runer. i st-’*- 

t etc 

w:rh A.."- 
The t - 

t week 


New York Tones Service 

NEW YORK — Leslie C. 
Arends, 89. a conservative Repub- 
lican who represented Illinois for 
40 years in the U.S. Congress and 
served as House Republican whip 
for more than 30 years before he 
retired in 1975. died Tuesday of a 
heart attack in Naples, Florida. 
Mr. Arends, a' ranking member 
. ._ r - ... of ihe House Armed Services Com- 

. ^ lOrnur-'- > ■ mitiee, was considered the consom- 


»asd- 
: VuU. 1 rXH 

.-j-ic-'. Tie? 

- . . :j.S 

•iff 

: ■ M'rJ-bCi- : 

... 

.if 
lilisft 








ten s 

M igAbc. • 
ihrirti-!- 1 ■ 

weeik. r< - 
.v 

Uin:-' n - : 

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'••ir.c ■ •it-' 

rti-.ab---" 

J.-.7C «'"• ' 

il-Jfi 1 

».l ■- : ' 

’> ■ - * 

■iif 

vn.:ui” r --' '* 

? u'U-'- 
.; ; T. "■ 

•ii.. 

- ;t , _ 

* 

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■ -~ 

1 


H 


sr-i’.'--*’ ^ 

lives • ' : 


Meeting 


l. 

•• 'tyt& 

±~- J*; 

■ rr. 

” . • 


: 

‘‘ r . )I? 


mate partisan; his devotion to the 
Republican Parly was so great that 
his entire career was spent support- 
ing it, defending it and praising it 
with all of his considerable vigor 
and diligence. 

“I was brought up .right." he 
once said, “as a Republican." 

Mr. Arends new up on his fa- 
ther’s farm in minds. He attended 
Oberlin College in Ohio and served 
time years in the navy in World 
WarL 

In 1934 he was elected to the 
House oi Representatives and in 
1943 he was elected Republican 
whip, ibe chief duties of the whip 
are rounding up party members 
and seeing that they are on the 
floor for major voces, and heif 
the House party leader bold a i 
block of votes inline on the party’s 
side of mqor issues. 



Leslie G Arends 

In 1976, Mr. Arends was named 
to President Gerald Ford's expand- 
ed Foreign Intelligence Advisory 
Board as part of the overhaul of the 
Central intelligence Agency and 
other intelligence agencies. 

Diego Giacometti, 82, 
Furniture Craftsman 
NEW YORK (NYT) Diego 
Giacometti, 82, a renowned crafts- 
man and the brother and partner of 


Alberto Giacometti, sculp tor. and 
painter, died Monday at a heart 
attack in the American Hospital in 
Paris. He was preparing to return 
to his Paris home after a cataract 
operation. 

His rustic and whimsical bronze 
furniture has been increasingly ad- 
mired and sought after by art pro- 
fessionals and collectors in Europe 
and the United States. The crown- 
ing achievement of his career was 
the cam ill usion for tables, chain 
and chandelien for the new Picasso 
Museum in Paris, which is to open 
Sept. 23. 

Alberto and Diego Giacometti 
woe inseparable for 40 years. Die- 
go was Alberto’s adviser, confi- 
dant, model and assistant until Al- 
berto’s death in 1966. He sat 
constantly for bis brother, and his 
bead was almost a signature of Al- 
berto's art. 


New York Timet Service 

WASHINGTON — A report by 
a private human rights group ac- 
cuses the Reagan administration of 
mani pulating and distorting infor- 
mation rat human ri g ht s abuses in 
Nicaragua to justify U-S. support 
for rebels fighting the Nicaraguan 
government. 

The report made public Monday 
by die group, Americas Watch, is 
the eight h that it has wwipilwi on 
Nicaragua since 1982. The; report 
said that “the misuse of- human 
rights data has become pervasive” 
throughout U.S. official state- 
ments. • • f 

“The administration's accusa- 
tions against Nicaragn rest upon a 
core of fact," the repent said, oiaig- 

ing That (he Sanriitiius have com- 
muted “serious abuses,” including 
arbitrary arrests and the relocation 
of thousands of Miskito Indians. 
“Around that core of fact, however, 
Uf officials have built an edifice 
of innuendo and exaggeration," the 


that "such abuses have occurred" 
and that “serious problems of cen- 
sorship persist." 

It said the U-S.-supported rebels Communist who ax the time was 
were responsible for most erf the transport minister, as a “poor 
worst human rights abuses. Frenchman gone awry” 


He was criticized a year later for 
condemning France's decision to 
purchase Soviet gas. He was also 
summoned to the Foreign Ministry 
for commenting on France’s policy 
of giving asylum to political exiles. 
He said it was “not always able to 
make the distinction between exiles 
and terrorists.” 

The ambassador was called to 
the prime minister’s office last year 
for describing Charles Fiterman, a 


Every piece of jewelry has a story to tell. ] 



#*■ 

Mf 

ilias LALAoUNIS 

PARIS - 364, RUE ST-HONORE (PLACE VENDOMEl 
GENEVA - -BON GENIE”, ZURICH - "GRIEDER” 
ATHENS - 6, PANEPISTTMIOU AVENUE 
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MYCONOS. CORFU. RHODES 
NEW YORK - 4 WEST 5 7 TH STREET & FIFTH AVENUE 


Take advantage of the world of 
convenience... 


report said. 
It sal 


said dial there was no policy of 
torture, political murder, or disap- 
pearance in Nicaragua, but it said 


XXJRGUIKTO WNING WELL 
PATRICIA WHiS 
IN HBCWTS WEB®© SECTION 
OFTHEIHT 


five Russians Imprisoned f cr Polluting 
Water Supply in ScmdiwestenilJknune 


.it 


■fit 




v . 

' " a***. 
- \> 


New York Times Service 

NEW YORK — Five business 
officials in the Soviet Union have 
received ptisonseatesces of up to 
fiwyears after bang found respon- 
sible for an environmental disaster 
two years ago that spoiled the wa- 
ter supply of a large part of the 
SMtlwesteni Ukraine. 

The results of a trial woe report- 
ed June 27 in Moscow by Izvestia, 
the government newspaper. Lasi 
year Izvestia expressed concern 
about a possible cover-up in the 
case, in which the five woe found 
J5hifty of negligence. 

i" ■' } ‘ s ' ^ In the accident on Sept 15, 
1983, the dam of a liquid-waste 
reservoir at a fertilizer plant at 
Stebnik collapsed, discharging tox- 
ic brine into a nearby stream and 
fhen into (Ik Dniester River, a ma- 
jor source of water for the south- 
west Ukraine, 

hr reporting the prison sentences 
Izvestia said that both during the 
investigation and in the trial “the 


"accused tried to 

ity by placing the Name on one 
another and evtai on natural phe- 
nomena." 






l* 








Hi’ r 


..-v :o 


AiredB Reported in Spain 

Renters 




M ■ 




"T- ■*» ^ ", 

' MADRID — Spain's supreme 

‘ '. j court has jailed mat prison offi- 

■' , cos, incl uding a former prison di- 

,.^'y rector. Santiago Martinez Motos, 
‘ ' for beating mrnares, court sources 
said Wednesday. 



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75010 PARIS 

(thru the archway) 

Td.: 770 64 30 
When in Paris... 
visit our Museum 
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Open Monday - Friday 

9 am. to 6 pm. 

Saturday 10- 17 un - 2-5 p.m. 
Also in sdeaed stores 
near your home. 
Catalogue on request 



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A timepiece of unmistakable beauty: Hand-carved 
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Page 4 


THURSDAY, JULY 18, 1985 


leralb 


INTERNATIONAL 



Sribunc, 


Pnbtiebrd Wnh Hie Not York Time* tad TV: WwbjngLoa Port 


' Better Budget Choices Exist 


The struggle to control the federal budget 
deficit slipped badly last week, with the agree- 
ment brokered by die White House. It is now 
late in the season to regain momentum for 
more substantial cuts in the deficit, but it is too 
eariy to stop uying. There are better choices to 
be made than those that the administration has 
agreed on with the congressional leaders so far. 

The agreement, as it stands, protects the 
Senate's figure for defense appropriations as 
the administration wished. It also protects the 
cost-of-living increases in Social Security 
benefits, as the House Democrats wanted. It is 
a compromise, in the sense that nobody com- 
promised. But they would have done better to 
go the opposite way — 1 to take the Senate's 
position on Social Security and the House's 
figures for defense appropriations. That would 
mean eliminating inflation adjustments for 
both, bolding them at their present levels for a 
year. Sacrificing Lhe inflation adjustments 
ought not be done for more than one year. 
Over a longer period, it would impose a dan- 
gerous erosion on two crucial functions or 
government But for a year, as a badly needed 
contribution to restraining a big deficit, it 
would be not only tolerable but good policy. 

it would lift this year's attempt at fiscal 
control above the recent pattern of alternating 
complaint and acquiescence, in which the defi- 
cit sinks a little in good years but rises a lot in 
the bad ones. This year, the third year of 


recovery from the last recession, the deficit will 
probably be about S21 5 billion. That is up S30 
billion from Iasi year. For next year, both 
House and Senate have now passed resolutions 
that, following very different routes, would 
push it down to $173 billion or a little less. But 
last week's agreement on defense and Social 
Security makes it unlikely that they will actual- 
ly hit that target There is now a hunt coder 
way for other vulnerable items. It is possible to 
find them. Bui it is difficult to cut a long list of 
small items and then make the cuts stick. 

Before ending the hunt and going on holi- 
day. the conferees from the two congressional 
budget committees, and the White House, 
need to give more consideration to the un- 
pleasant but necessary alternative: deletion of 
inflation increases for the two largest and most 
sensitive categories in the budget 

Both defense and the pension system are 
threatened by continuing uncontrolled defi- 
cits, for both require a strong and stable econ- 
omy. A temporary freeze serves the interests of 
both. And beyond that temporary freeze? Just 
as a compass needle keeps swinging back to 
north, all the logic of the budget keeps coming 
back to one familiar point It is going to take a 
tax increase to pay for the services and protec- 
tions that most Americans — not only con- 
gressmen, but the people who elected them — 
consider basic federal responsibilities. 

— THE WASHINGTON POST. 



ecies 


Kami, a four-year-old pygmy chimpanzee, 
has put new sparkle into an ebbing venture: 
the age-old desire of humans to communicate 
with other species. Many who claim to have 
established dialogue with animals turn out to 
be victims of self-deception. It is easy for 
researchers to see in animals' behavior what 
they want to see. Then, too, smart animals like 
hones and chimpanzees are adept at reading 
the non-verbal cues in human behavior of 
which humans are often unaware. 

The two propensities can lead to a debacle, 
mast notably in the case of Clever Hans, a 
horse who was taught to count eariy this centu- 
ry by a German schoolteacher, Wilhelm von 
Oslhl Everyone was impressed by Hans’s ar- 
ithmetical ability- as he gave the right numeri- 
cal answer to problems with taps of his hoof. 
But as a later study showed, the horse was not 
counting at alL He carefully watched for his 
questioner to make a minute involuntary jerk 
of his bead when the right number was 
reached, at which point be stopped tapping. 

It is not that other species do not have ways 
of communicating among themselves. The 
German zoologist Martin Lindauer so under- 
stood the signaling among bees about to 
swarm to their next nesting rise that he could 
get there on his bicycle before the bees did. But 
the communication of bees is confined to the 
ihings bees are interested in. Human language 


is more than a set of signals or symbols: It is 
also the syntax with which they are structured. 
Recognizing true syntax in communications 
with animals is harder than it mig ht seem. 

Chimpanzees certainly learn signs and even 
string them together in apparently meaningful 
phrases. But are they using signs as h umans 
do? An ape that makes signs for “give,” “me” 
and “apple" may seem articulate, yet probably 
is merely acting like a pigeon trained to peck at 
red, blue and green to get food. Some critics 
have dismissed the whole ape-language field as 
an elaborate repetition of the Clever Hans 


phenomenon, with humans unconsciously 
training animals in routines that are then mis- 
taken for communication. The faculty for lan- 
guage may be innate in hit mans and acquired 
long after they evolved from other primates. It 
so, apes cannot take even the first step. 

Nonetheless, efforts continue. At the Lan- 
guage Research Center near Atlanta, research- 
ers have noticed that pygmy chimpanzees 
learn symbols with particular ease. Karra, 
their star student, responds accurately to sym- 
bols used by others, and seems to understand 
human commands. He fetched diapers, hoses, 
spoons; aB you have to do is ask. That is far 
from proof he has acquired language; such 
behavior may not differ from a dog retrieving a 
stick. But it is a promising start 

— THE NEW YORK TIMES. 


Other Opinion 


Making the Good Times Last 


Oil-industry analysts are now talking about 
the price of crude dropping by $5 or more, 
down to $22 or even $20 a band. After that — 
say, by the eariy 1990s — prices should again 
start to rise because oil that has become too 
cheap will drive a lot of energy producers out 
of the market shrinking supplies. The ana- 
lysts, who have sometimes, besn wildly wrong, 
probably have itright this time. Oil prices are 
beading for a significant fall because that is 
what current market conditions require. Inev- 
itably, though, the time must come when this 
process is reversed and market forces again 


official prices, under the steady pressure of . 
price redactions by non-OPEC ou exporters. 


As prices fall, the economies of some oil pro- 
ducers — among them Nigeria, Mexico and 
Venezuela — seem destined to be beat up even 
more. Most of the world, though, will gain. If 
continued prudence in col consumption is 
demonstrated even as prices drop, that gain 
could last longer than experts forecast 

— Los Angeles Times. 


live Aid’s Good Vibrations 


push prices up. The trick for oil-importers is to 

isible. 


postpone that time as long as possit 
For most of the 1970s the 13 countries that 
make up the Organization of Petroleum Ex- 
porting Countries were able to control the 
market and to fix prices for a simple reason: 
They owned most of the world's known sup- 
plies of oiL Over time, though, OPECs high 
dictated prices encouraged other countries to 
get into the game and to produce oQ in quanti- 
ties sufficient to erode the cartel's control. The 
trouble is that if oil prices now start to decline 
steeply the economic incentives to search for 
new oil or to develop alternative forms of 


energy will dimmi sh as welL As that happens, 
OPEC should be able to reassert its ~ 


ranee, and the world is once more likely to find 
itself uneasily dependent on OPEC oiL 
For now. though, cheaper oil prices loom, 
with or without OPECs approval Already 
about 75 percent of OPECs greatly reduced 
oil output is being sold or bartered at less than 


The weather was bearable, the vibrations 
were something to sing with and talk about, 
the fund-raising seemed to be sizable. Satur- 
day’s Live Aid concerts in Philadelphia and 
London were to end the grip of famine an the 
people of Ethiopia and other central African 
areas. But let the governments in those places 
bear in mind that reports an the actual convey- 
ance of aid, long-range as well as short, will 
now be awaited by the concert-watchers. 

Live Aid turned out in one sense to resemble 
many another TV spectacular to provide mon- 
ey for research into a specific disease or afflic- 
tion. Yet the occasion organized originally by 
a Briton named Bob Geldof was also unique, 
in lhe way it not only unified individuals and 
styles from across the vast sweep of young- 
world music, but also fired up a supposedly 
“gimme” generation in support of a cause. 
There is more to rock than the excesses, the 
narcissism that old folk frequently assign to it. 
Such a concert will not happen soon again, but 
it con happen when the summons is sufficient. 

— The Baltimore Evening Sun. 


FROM OUR JULY 18 PAGES, 75 AND 50 YEARS AGO 


1910: AU^.Polk^ofNicaragiifi? 
WASHINGTON — That the - United States 
may be compelled to intervene in Nicaragua 


and put an end to the state of anarchy prevail- 
‘ by officials of the State 


iflg there is regarded 
Department as highly probable. According to 
lhe American interpretation of the Monroe 
Doctrine, the nation which maintains order 
and respects international obligations has 
nothing to fear from the United States, but 
“chronic” wrongdoing which results in a less- 
ening of the lies of civilized society may re- 
quire intervention and the United States in the 
interests of the world must exercise an interna- 
tional police power. The Washington Govern- 
ment feels that unless it intervenes there is 
danger or the intervention of a foreign Power 
with all the ensuing complications. 


1935: Sknlls Called Pre-Neanderthal 
BERLIN — What experts claim to be the 
skulls of the ancestors of the prehistoric Nean- 
derthal man were"found [on- July 17] at St 
Martin's Church at Bilk, near DQsseldorf. 
When excavations ycre made at this church to 
investigate ancient Franconian tombs three 
well-preserved, completely petrified skulls 
from diluvian times were discovered slightly 
more than six feet underground. The stains, 
which were a little less than half an inch thick 
and have receding foreheads and enormously 
thick eyeholes, thus show all the characteristics 
of Neanderthal man. Their construction, how- 
ever, being still flatter, experts think the skulls 
must belong to the Neanderthal man's fore- 
fathers. The skulls were taken to the Prehistor- 
ic Institute at Bonn for further e xamina tion. 


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JOHN HAY WHITNEY, Chairman 1958-1982 


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Deputy Editor RICHA RD H. MORGAN Associate PMsber 

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France. TeL: (1)747-1265. Telex: 612718 (Herald). Cables Herald Paris. ISSN:Q294-8Q52. 

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U.S. subscnptnm: S322 yearly. Second-doss panage paid at Long Island City. N.Y. 1 1 101. 

«? 1985. huemaimal Herald Tribune. All rights mated 





^Bememberyean ago whm that si^iims the otbrr tray atround?' 


United Sympathy for Reagan Is Useful , But Transient 


W ASHINGTON — When a 
president is stricken, the natu- 
ral instinct of the nation is to close 
ranks. For a Tew months, the present 
mood of sympathy and unity in 
America is ukejy to prevail, but not 
for the remaining three and a half 


By James Res ton 


years of Ronald Reagan's presidency. 

sin the 


No doubt the central fii 
cabinet and tire White House staff 
will be able to compose their differ- 
ences over control of the budget, the 
arms race and other terrors. Even 


Congress may be a little more cooper - 
a while. 


ative and less combative for a 

But three and a half years is a long 
time at the present rate at stupidity in 
the world There are deep divisions in 
the United States and on both do- 
mestic and foreign policy. The battle 
for control of the Senate next year 
will be vicious, and these policy and 
political battles are bound to come to 
the fore under the most difficult cir- 
cumstances, regardless of the state of 
the president's health and spirit. 

He mil undoubtedly get 
the summer all right, after a mu 
needed rest. Congress will be away 
recuperating from its own self -inflict- 
ed wounds. He has at the core of his 
cabinet and White House staff a 
group of intelligent, experienced 
men, and he can probably referee 
their differences about as well from 
the ranch as from the Oval Office. 


The chances are that he will let Mr. 
Regan be Mr. Reagan for a while, 
which may make James Baker won- 
der why he left the chief of staff job 
for the Treasury. But it is just possi- 
ble, though not likely, that Mr. Rea- 
gan will push the vice president for- 
ward, looking to the future — for a 
couple of main reasons. 

first, it is only fair within the spirit 
of the 25th Amendment that the vice 
president, as the only other person 
elected by the nation, should repre- 
sent lhe president, not only when the 
president is “incapacitated” bat 
when somebody has to nm the store 
under presidential direction. 

Second, if the doctors are right that 
Mr. Reagan has at least a 50-50 


chance of recovering completely and 
serving out his term in full command 
Jties, then there is noprob- 


of his 



; sentimental only up 
to a point. They figure the odds, and 
the name of the game is winning and 
holding power. Here Mr. Bush, 
though no darling of the Republican 
conservatives, may have a political as 


well as a policy role to play. 

"ithesu 


The president needs the support of 
the Democrats even to set a limi ted 
compromise on the budget and on 
arms control, and he is not getting it. 
They are hell-benl to spend more 
money on Social Security, less money 
on defense, get him out of “star wars^ 


for power around here, you would 
Iwfaat the 

hucksters thmt about. 

The New York Times. 


State of Mind May Help Cancer Patient 

By Norman Cousins 


Later in the year, however, things 
l sebed- 


may get a little awkward. He is 
uled to have his first summit meeting 
with the leader of the Soviet Union, 
and here there is a switch. Mr. Rea- 
gan has been complaining ever since 
he came into the white House that he 
was dealing with old and ailing Soviet 
leaders who were leaving dediions to 
a “collective leadership” that could 
not make up its mind. 


Now he is confronted by a feisty, 
; Mikhail S. 


younger Soviet leader. 

Gorbachev, who has been getting rid 
of the old guard, while the president 
is suffering from the ailments of old 
age and raying on hisxjwn “collective 
leadership” in Washington. 

It will be interesting to see who 
emerges from this Reagan team dur- 
ing the president's convalescence, 
and where he places bis trust until be 


is strong enough to take over again. 
Will it be Vice Prosit 


President 

Bush, or chief of staff Donald T. 
Regan, or will he refuse to establish a 
clear line of temporary authority and 
let them struggle along until they can- 
not settle their differences? 

The guess here is that Mr. Reagan 
will let them struggle and think about 
it later. That is what he did about his 
own health at the first sign of trouble 
in May 1984, during tbs election 
campaign. He let it drift. 


L OS ANGELES — Does the attitude of a patient make 
t any difference in the treatment of cancer? 

Medical researchers at the University of Pennsylvania 
Cancer Center did a questionnaire survey of 359 patients 
suffering from “advanced, high-risk cancer.” The patients 
were questioned about their emotions, attitudes and life 
styles. The death rate of the patients was 75 percent. The 
conclusion of the researchers was that emotional or “psy- 
chosocial” factors did not affect the course of the disease. 

The implication is that cancer patients are deceived if 
Lhey^think that confidence; hopefulness and a strong will 
to live play an important part in treatment 
If One reads the report carefully, however, it becomes 
apparent that the main question posed by the study is 
whether anything can change the outcome of high-risk 
cancer cases. The people who responded to the question- 
naire also had received conventional medical treatment 
— radiation, chemotherapy or surgery. Since the death 
rate was the same 75 percent, the conclusion applied to 
attitudes would also imply to medical care. 

Yet few people would be disposed to say, because the 
chances of survival in advanced cancer are very small, 
that medical care should be withheld. Whatever the odds, 
we have the obligation to provide the best that medical 
science has to offer. The medical journals regularly report 
high-risk cancer cases that have gone into remission. The 
very fact that these cases are highlighted in the medical 
press is evidence that they defied specialists’ predictions. 

Physicians will give no guarantee that medical treat- 
ment will “cure” in any given case. Neither win anyone 
who ministers to the emotional or spiritual needs of a 
patient provide absolute assurances. But humans are 
a 2 £d by their hopes. A patient’s win to live cannot be 
totally disregarded in making a prognosis or in designing 
a treatment We must mobilize all the resources of the 
patient — physical, emotional, intellectual and spintuaL 
It has been stated that no scientific evidence exists to 
support the idea that emotions can affect the course of 
serious disease. This is not entirely true. The Institute for 
the Advancement of Health has published two compre- 
hensive reviews of research projects on the way human 
emotions interact with the human physkdogy. Both books 
are edited by Steven E. Locke and Mady Honrig-Rohan. 


The first volume is called “Mind and Immunity,” and 
summarizes 1,400 separate research projects. The second, 
“Psychological and Behavioral Treatments for Disorders 
of the Heart and Blood Vessels,” contains accounts of 916 
research papers dwtiing with psychological factors and 
cardiac disease. Both books oernonstraie that attitudes 
and emotions have physical effects. Meanwhile, research 
projects are going forward to determine just how these 
psyauriofpcal factors affect bodily functions. 

A new field of medicine called psychonearounmimo- 
logyis emerging.it is based cm the concept that there is no 
angle cause of serious disease or no single key to a cure; 
the brain, the endocrine system and the immune system 
interact in a way that can set a stage for disease to 


progress or enhance prospects of recovery. 

For example, cancer specialists led by Dr. WA Gor- 
don studied 308 women with breast and lung cancer and 


were able to identify the role of negative emotions in the 
intensification of their Alnesses. Dr. FJ. Fawzy, a cancer 
ialist at the University of California Los Angeles 


. of Medicine, has been using psychosocial therapy 
with conventional cancer treatment. 

Two groups in California have been created that are 
haring a significant effect cm the quality erf life of cancer 
patients. One is called We Can Do, and the other is called 
the Wellness Coarmuniiy. Many of the patients have lived 
long past the time predicted for them by their physicians, 
many of whom have no hesitation in saying that the 
determination and will to live of die patients accounts for 
a significant part of their progress. 

It is nonsense to treat patients as though they consisted 
exclusively erf mechanical parts. It is equal nonsense to 
regard physicians as mechanics. H uman beings are 
unique because of their ability to gain command of their 
experiences, to draw meaning from life, and to think and 
feel deeply. Physicians know that their science works best 
when they treat a human being as a magnificent totality. 


The writer, who contributed this view to the Los Angeles 
Times, is an adjunct professor of medical humanities at the 
University of California Los Angeles School of Medicine. 
He is the author of “ Anatomy of an Illness” (1980) and 
“The Healing Heart’' (1983), published by W.W. Norton. 


40 Years On, Are We Learning to Lave the Bomb? 


By Paul Brians 


.ton — Not 


P ULLMAN, Wa 

since Hiroshima ^ 

were bombed nearly 40 years ago 
have images of nuclear war been so 
widespread in popular culture. 

Americans, it seems, are learning 
to love the nuclear bomb — espe- 
cially youngsters, who are craping 
their anxiety by embracing the 
bomb as an adventure. 

In Los Angeles, teen-agers wear- 
ing necklaces of bones dance to 
rock videos depicting atomic appea- 
lypse. Such images nave long beea a 
staple of some television channels. 

Video games depicting nudear 
warfare are popular. The onetime 
big hit Missile Command, in which 
the player uses aniibaflistic missiles 
to defend cities against attack (it all 
ended with a flash and a mushroom 
doud bearing the words “Game 


Over”), has been succeeded by 
listicated. 


games that are more sophistics 
such as Ground Zero. 

The Australian movie “Mad Max 
U: The Road Warrior,” set in a 
post- holocaust wasteland, was a big 
hit with young people a few years 
ago, and its sequel, “Mad Max; Be- 
yond Th underdr ome,” is a bigger 
one this year. Last year, they 
flocked to see “The Terarinaior,” in 
which Arnold Sdnratznegger, as a 
robot, was bent on insuring destruc- 
tion of the human race in a nudear 
war — a film remarkable for the 
way it endorsed surrivalist philoso- 
phy: Since nudear conflict is inev- 
itable, the best we con do is arm mid 
train to fight in the postwar chaos. 

Comic book collectors are snap- 
ping up the Judge Dredd sales, 
which depicts a violent world of 
dues after nudear destruction. 

Popular fiction dealing with nu- 



Reagan can joke about bombing the 
Kremlin, with remarkably Hide 
public reaction, it is dear that nu- 
clear war is no Ionscr “unthink- 


able.” Increasing numbers of people 
vitaHe, 


have begun to consider it inewtal . . 

Serious analyses, such as the 
films “The Day After" and “Testa- 
ment,” do not reflect the actual 
state of public consciousness about 
the menace of nudear war. Most 
people cannot be bothered with the 
complexities of nuclear weapons 
and disarmament. It is far easier to 
think of nudear war as simply The. 
End of the World. The most cont. 
mon reaction is; “If the bomb 
drops, I hope Tm right under it" 

Sudi altitudes have always been 
common, but what is new is the 
bravado with which books and films 




— — WA u M w i M yAim.'U. 

— twas shocking black comedy in 
the movie “Dr. Strangdove” is now 
the norm for many young people. 
Some of tins is adolescent posturing 
— the equivalent of swas- 

jtikas, to alienate adnhs — bat much 
of it, I suspect reflects the despair 
about the future revealed in surveys 

rJt 1 ' 


of youths' view of nudwir war. 
Video e 




dear war and its aftermath, a sd- 
encc-fictioa staple since the 1940s, 
has proliferated during the 1980s. 
and much of its character has shift- 
ed. Earlier, the most frivolous post- 
holocaust tales tended to depict the 
conflict with some expression of 
horror, or at least regret. Many 
newer works gleefully embrace the 
wasteland as a playground for bru- 
tal heroes indistinguishable from 
the villains the y fight. 

Some rightist works, like the nov- 


el “The Turner Diaries," by William 
Pierce, an American neo-Nazi, hap- 
pily depict nudear war as the gate- 
way to a new world of fascist de- 
lights. Several popular conservative 
evangelists have declared that the 
return of Jesus and the Last judg- 
ment will be signaled by an atomic 
attack, probably act Israel. 

This trend signals the end of an 
era in which awed respect was 
granted the prospect of atomic an- 
nihilation. When President Ronald 


ffdeo games, fibny mndf and 
books are reconciling a generation 
to nudear war as inevitable. This 
undermines the possibility that the 
next generation wd deal any more 
rationally with the problem than we 
have. Educators and parents nq-d 
to pay more attention to this trend 
and to make it dear to youth that a 
holocaust won't be fun. 


The writer, associate professor of 
t State Unner- 


Englishm Washington i 

sity, is completing a book, " Nudear 
Holocausts: Atomic War in Fiction 
1914-1984.” He contributed this 
comment to.The New York Times. 


Cheaper Oil 
Won’t Slow 


Exploration 


Bv Hobart Bowen 


W ASHINGTON — Fof mid- 
years.. most oil-market "e* 
pern" peddled poor advice and anal* 
vsis: OPEC was in control, they said, 
and could exact whatever toll V 
pleased from a ptfroleom-dependeai 
society. Prices, which had been in 
pennies a barrel before 1973, rose to 
S34 a barrel in I9”9-S0. The common 
wisdom was that 575 or 5100 a barrel 
was not out of reach. 

Any effort to depress the price 
would only make the Organization of 
Petroleum Exporting Countries de- 
cide to keep the oil m the ground, 
where it would gain in value, the so- 
called experts maintained. 

But now, the OPEC cane! b in 
timers. its effort to protect a 526 price 
a failure. The consuming world- 
learned a lesson from OPECs repeat-, 
ed oil “shocks," wisely resorting to 
conservation and substitution. Ami 
OPECs extortionate prices stunufat 
ed new explorations of oil 
Today, the oil market is dominated 
by a glut and falling prices, despite 
the fact Lhat OPEC producers have 
drastically cut production, and the 


inability of warring Iran and Iraq to 
wild Bee. 


and get the Republicans out of con- 
trol of the Senate in 1986 and out of 
the White House in 1988. 

But they have to be careful not to 
add to their recent presidential elec- 
tion failures. For if the president does 
not recover his health and his full 
powers in (he next three and a half 
years, given the 50-50 bet and the 
accidents of life; he always has the 
option of resigning and turning the 
presidency over to Mr. Bush, who 
would then seek re-election in 1988 
from the While House. 


pump and market all they w 
Philip K. Vcrleger Jr. of Charles 
River Associates said in recent testi- 
mony before a House Energy sub- 
committee that the real question is 
whether the slide in prices can be 
stopped at S2G a barrel or even S10. 
Oil he says, is now a commodity like 
any other, meaning that prices can 
oscillate from levels below S10 to 
levels over 540 a band, and that 
there is very little that any govern- 
ment or cartel can do to stabilize iL 
Meanwhile, many businesses and 


.1 


banks that bet on the bad advice they 

t 10 


This is obviously not the presi- 
dent's or the Democrats' favorite vi- 


sion of the future, but in the struggle 
rouldbe 


got from experts over the past 
years — a one-way, upward oil spiral 
— have already failed. And those 
who continue to have a vested inicr- 
esi in keeping prices up beg for a 
gentle, rather than precipitate, slide; 

The latest argument against dedin- 
ing oil prices is that there is a risk that 
conservation and exploration will 
slacken off. cheaper oil will substitute 
for other energy sources, and soon 
OPEC will be back in lhe saddle. 

But Mr. Verieger points out that 
the world has traveled a long distance 
from the time that the “Seven Sistas" 
among the oil companies combined 
with OPEC in a senes of preferential 
agreements to control prices and sup- 
ply. And some of the new industrial 
conservation practices and substitu- 
tions are probably irreversible. 

As Professor Eityahu Kanovsky of 
Tel Aviv University and Queens Col- 
lege (one of the few who have been 
consistently right on oil) pointed out 
recently, almost everyone connected 
with the oD industry lias vastly under- 
estimated the extent of new oil dis- 
coveries. Only a handful have ana- 
lyzed oil issues dearly, but these 
remain voices in the wilderness. 

Unaccountably, those who get at- 
tention are those who bad it wrong 
before. Thus, in a New York Tunes 


a few days ago ( IHT, Juk 6). 

of Cam- 


Yergin, president 
bridge Energy Research Associates, 
said: “Barring a major technological 
development the reduction in energy 
investment will come back to haunt 
us. Market realities will again give 
way to geological realities — the con- 
centration of oil reserves in OPEC 
and in the Middle East And that will 
eventually put the era of surplus be- 
hind us.” Mr. Yergin is one of those 
who did not foresee the oil glut and 
the accompanying decline in prices. 

Mr. Yergin's ability to puzzle oat 
the oil market should be considered 
flawed, cm the basis erf the record. In 
any event he is in good company, 
including those who advised govern- 
ments, commercial banks and the 
World Bank, and who wrote tomes 
for prestigious establishment jour- 
nals such as Foreign Affairs. 

It seems to me that it is high dine 
for editors to pay attention to the 
those who have been right on oSL . 
They teD us lhat the risk that lowtr oil 
prices would weaken the resolve for 
conservation and substitution can be 
offset by import taxes. They add that 
OPECs power could be diminished if 
we continue to stockpile cal in the 
strategic petroleumrescrve. 

In short, a continuing in 

the price of oil provides enormous 
benefits for the world economy, add 
will vitiate OPECs power to hold the : 
world hostage to political aims. 

The name of the game now should 
be to try to perpetuate that situation, 
not throw in the towel. 

The Washington Post ■ 


LETTER 


Making a Fair Exchange 


I read with interest Hobart jRow-j 
en’s news analysis, “Japan Fears 
Trade Crisis with U-Sr (Jufy 8), 
which seems to suggest that the sdu- 
tioo to the problem of the U-S. deficit 
with Japan is for the Japanese people 
to stop raving their money and spend 
it on substandard American ptodr 
ucts- 1 wonder what old Ben Franklin 
would have thought of that . /.'■ . ; 

I think a much better 
would be for Presideit ReagifcfO, 
work out a trade with Japanese of 


£ 


VS. lawyers (of which America has 
tic 


30 per capita lor every one the Japa- 
nese have per capita) for erngmeoS 
(of winch Japan h3S seven per capita 
for everyone per capita in AmeraaJ; 
Such an exchange could make Amen' 
ca an industrial nation a gain. - . - 

FRANK BRADLEY^: 
Mdbystrand, Sweden, f 


Letters intended for pubScaddh 
should be addressed “Letters to the 
Edftor* and mutt contain the writ- 
er's signature, name mi fidl itd- j 
dress. Letters should Be btitf and r 
are -subject to editing. We catottt , 
be responsible for the relam 
unsolicited manuscripts. ■ . - -V 




r: - y / 


i-l jfX /it I 


f 



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as-Wi-VE.'su.-i. 


^P e r Oy 

? lor atio n 

"to^ R > 

■SisaSBi 

«ji«( rej i“S»»T5 

SS&feO 

ipffT'S — „„. n if? 1 

MSSBp5 

»ftsK SL'ta. 

SSnSLStsSfc 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


3 More Die in South Africa, Soweto Unrest Is Called 'Serious’ 


Compiled bfQm Staff Fnxn Dispatches meg hurt bCCU' HAwf wb©Q poHce- 

SQWETO, South Africa — men fired into crowds; 


en had been' lolled when police- The outbreaks in Soweto, on the A government spokesman said protest proposed rent increases, mane dispute with the Netherlands 

en fired into crowds; .. outskirts of Johannesburg, were the tens of thousands of blacks were Some young people entered the over a Dutch citizen who made an 

In Soweto, Jan Coetzee, a poKce worst in .the recent weeks of nnnst boycotting classes,, leaving schools court and sang freedom songs, unsuccessful bid for sanctuary in 

! U ■ -j ■ V L,_ .1 ■ . T • HI-. . a ■ . <ka Wa»ka4ani<a C«luui«> D_.._ 


rest throughout South Africa, and brigadaaysaid the violence there in black townships, 
violence flared Wednesday, in .had been intense bnt added that the Soweto was thect 


Germans and Americans was The three deaths overnight 


police headquarters in Pro- stoned by about lOO oris and boys raised to 12 the total of blacks all the schools were dosed there. 

a- .a-.- * • . • - ♦ ■# f^ll. j ■ IS 1 l " «• wf I.. 1 AAA -1 1 - 


toiia, reporting disturbances wearing school uniforms. 


blade townships. virtually deserted in 26 communi- Witnesses, who *&kcri that their ^ Netherlands Embassy, Reuters 

mac thr rm tMr nf cti. ianr ***■ Edgar Passdt, an education names not be used, said policemen reported from Pretoria. 

official said 46 sdtools were dosed fired rear gas to dear the coun- The Netherknds gwenuncni set 
in Duduza, Rwathana and Tsaz- room. Outside, mounted police a 48-hour deadhn^expinng Thurs- 
ar and topic at Hast fiWbves. kane,easiof Johanueslsiig. charged into the crowd with whips, day morning, for his return. 

The three deaths overnight Residents of Soweto said nearly Witnesses reported injuries and Tire Foreign Ministry said Pra- 
ised to 12 the total of blacks all the schools were dosed there. arrests, but saitf they did not know toria and The Hague were in con- 


kane, east of Johannesburg. 
Residents of Soweto said nearly 


around the nation, said the body of “Three windows were damaged days. More than 450 have died in outside a court in Soweto, where 
a black womm had been tomd bat, as Caras we know, nobody was the 10 months of protests against 
after overnight rioting in Witbank, injured,” he said. “Police escorted apartheid, the legalized racial sys- 
east of Johannesburg, and 'dm two the bus out of Soweto.*’ . tern of segregation. 


killed in political violence in five Nearly 1,000 youths gathered how many. 


Witnesses reported injuries and The Foreign Ministry said Pre- 
Tests, but said they did not know loria and The Hague were in Con- 
rw many. tact over the detainee, Klaas de 

There were incidents of stone- Jonge, and said further public 
rowing elsewhere in Soweto. Res- statements would hamper a solu- 


deered at least eight 
.them to the coun. 


The Netheriands said Tuesday 
that it would recall Ambassador 


^ saA 


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Soviet Pursues 

Anti-Alcohol 

Campaign 

RnUeu 

MOSCOW — A Soviet police 
official warned drinkers Wednes- 
day that there would be no let-up m 
the government's anti-alcohol cam- 
paign, but dismissed fears that po- 
lice would pick up suspected 
drunks at random on the street 
“Neither in the autumn, nor win- 
ter, nor spring, nor next summer 
will things get easier for persistent 
drunkards on the street,” said a 



A PAPAL AUDIENCE — Prime Minister Yasubiro Nakasone of Japan and Ms wife, 
Tsntako, talked Thra-sday with Pope John Paul n during an audience at the Vatican. 
Mr. Nakasone has also been meeting with officials of the Italian government in Rome. 

Khmer Rouge Concession Is Lauded 
By China, Questioned by Sihanouk 


tch, in the weekly Iiteratnmaya 
Gazeta. 

But he said it was nonsense to 
Tear, as some of the newspaper's 
readers had, that the police were 
trying to “fulfil a plan” of arrests 
by picking up people at random. 

Interior Minister Vi tali Fedor- 
rhnk said Monday there had been 
15,000 violations of the laws intro- 
duced June 1. The new rules raised 
the legal drinking age; banned the 
drinking of spirits in the street and 
increased penalties for public 
drunkenness. 

The newspaper said many read- 
ers had written to ask if the damp- 
down on alcohol abuse gave police 
the right to stop passers-by in the 
street to check their sobriety. 

“Nobody’s going to stop some- 
one on the street and check him 
^ust for the sake of it,’ unless it’s a 
wife meeting her husband near a 
food-store drinks department," 
General Zharich said. 

The extent of police action 
against the more obviously illegal 
aspects of alcohol abuse was indi- 
cated by a Moscow police captain 
quoted Wednesday in the newspa- 


The police were said to have shot Hugo Caisten for consultations un- 
one person m a crowd throwing less Mr. de Jonge were returned, 
stones at (me of the bases and a n n«.ha w 

bakery truck after they had coQid- Bof™ has 

Sr (Robbs, AP) mvemgaam myolvm g Mr. 

_ n . ^ ^ I* , de Jonge mduded alleged arms 

■ Pressure by tbe Netherlands caches for the exiled African Na- 
South Africa was considering tional Congress guerrilla group, 
Wednesday how to resolve a dipta- fighting to overthrow white rule. 


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THIS FRIDAY ONLY JULY 

•eeawui MH Wwc—MifcWMa—tcwiBuiM ce unto 

☆ ForfivVMrtniannallonan thin g«nuk^« Mi* ' prion* 01 -248 24 tl. 

CYRIL KAYE A CO^I 9/20 h am irar miii imiivuim '• 


JCK MILL, LONDON ECS 


Tbe Associated Press 


ed from A to 2” the moderate poll- son who could prevail Vietnam 


BELTING — China welcomed on ries that had been agreed on, from “swallowing Cambodia forev- 
Wednesday die Khmer Rouge’s Prince Sihanouk said. er.” Pol Pot led the Khmer Rouge 


In tbe first two weeks of June, his 
police had dosed 21 stills and ar- 


ooncesskmary stand on the future 
of Cambodia, but Prince Norodom 


iiu* Sihanouk said. er." Pol Pbt led the Khmer Rouge police nan closed zisrnis ana ar- 

. government from 1975 until 1979. rested more than 1,000 people for 
In China. aForo^ hfimsny Asjnflny as wo million Cambo*- illegal manufacture of alcohol he 
okesman said that Ben mg an- nm .i,* „u said. 


in vtuuuvuuL uul x iun« i^uiuudui . ■ a... _ na l&iouj « mu ««uivu 

Shanouk,wbo heads ibeCambodi- aas (Bed under the regime's rule. 

an resistance coalition, questioned Beging equips 50,000 Khmer 

^ member AsSocxahon of Southeast nniwi n thrr 


0000 Khmer In one raid just after the new. 
20.000 other laws came into force, the police 


zl ■ ■ 6x-=i *‘»OIKE^ out 

oK ^ W »:a'B am; 

■*» DifSPi rim *» CIU# 

0 :N£R 5 CilW -*DTNiP‘l Cl'Je -UDi'CHi CU 9 4 bll^ 
:imb •mosHtra dm Ctus emt 

» tmmsmsms&ssz 

DB«tt CaSWPiKECS '.IWS rt*l>rMtP 5 d'Jb ■•PINT 

3ub “»R3is?fct. ci-.w •waeiss cu» •»oi«ks aus 
o«f«5 aus ciue oub « me 

CLU«»»Dlf.tR£CUlB Cl'je -ftmMBcS CLUB 

lDtME5.a.!;6 4C.»IE?S alia S CUM* 


.; Ap s J - 
it” 

.. 1/k'i 
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the sincerity of his Communist iT- ? K ? nD S Rouge guenillas; 20,000 other «me mw lorec. ine^n x 

^smeemy Asian mdirect lalks ^ fight for Prince Sihanouk discovered tfareeqperatmgsfffls, he 

_ . „ . , tween the Khmer Rouge smd its wj Son Sam, leader cf the Khmer said. In a second raid on Ihe same 

A Chinese Foreign Ministry reastan« partners on one ode, and p- on wrvitional Liberation place a few days later, eight stills 
spokesman praised the “good, the Vietnamese and the Heng Sam- The resistance faces at least were found, he said. 


faith” of the Khmer Rouge, who tin regime they support in Phnom 
are supported by Beijing, in seeking Penh on the other. 

LSTLSS seam -.om stem t. 


against VIemaroese forces in Cap- ^Ef .fata 


160,000 VietnanKre troops. 

■ Thai Leader Optimistic 

Prime Kfinister Pram Tinsnlan- 


GeneralZhorich, head of the In- 
terior Mmistry’s Public Order De- 
partment, smd tbe new laws had 


I require worldwide acceptance from 
my Card. And I get it. 


The Khmer Rouge said Monday of wfflin 
that it would abide by tbe results ol solution, 
elections in Cambodia, even if it « . 

lost, once Vietnamese troq» with- 
drew. . «*;«. JL 


snosals which the Chinese Prime Minister Prem Tinsulan- not given the police more powers, 
HS^dSwiS^ onda of Thailand said Wednesday but feared, that they would be 
willingness to find a political Jj?®* I™* 5 ^ ... ^ 


Khmer Rouge might lead to peace . “Some people consider iheseof- 


The diplomatic shifts began 


talks, Reai ters reported from Bang- fenses minor and sorodiow bope to 


S uu “ Monday when tbe Khmer Robge speaking out s 

’ radio, monitored in Bangkok, said thisissire Souldopena 

Prince Sihanouk, referring to the the group would accept any elected talks.” Mr. Prem said. 

Khmer Rouge, his partners in the Cambodian government, once ' 

uneasv anti-Vietnamese coalitioo. Vietnamese troops withdrew. 


get off freely." General Zhorich 
said. “The police are trying to do 
everything to ensure that no of- 
fender retains such a hope.” 


said, “I absolutely cannot foretell 
whether they shall keep their prom- 


7 Computer Owners, All Under 18, 
nbodian mkr Charged With Fraud in New Jersey 

idem with the would be welcomed in Cambodia a-l omc that Hu. ..nd 


ises OT oL lure president of Cambodia. 1 

The former Cambodian ruler group also said that Hoag San 
first formed a coalition with the . would be welcomed in Cambc 
Khmer Rouge in the early 1970s after the Vietnamese withdrew, 
after he was ousted from power. On Tuesday, the Khtner Rx> 
Even before the Khmer Rouge issued another statement caS 
seized control in 1975, they “violat- their leader, Pol Pot, the only f 


wmia i oe weicomca m ^amooaia Wew York Times Sendee of their ages but that the underty- 

SOI™ PLAINFIELD, New ing charge was comgriracy to emn- 
i «SE Jersey — Seven young people have mil theft. He said he would ask that 

be^arrested with they be sent to a juvenile shelter if 

their leader, Pol POL the only per- c^iring w use their home com- convicted. 

— — paters to exchange stokn aedit- Richard A. BrayaD, a spokesman 


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card numbers and information on the American Telephone and 
how to make free long-distance Te legra ph Ccl, winch owns and op- 
tdephone calls and to call coded crates major communications satel- 
phone numbers in the Pentagon. htes, said he did not ihink the 
The Middlesex County prosecu- ymmg computer users had such in- 
tor, Alan A. Rode off, who an- formation m their systems, 
nounced the charge* Tuesday, said I(W - T ^ 

■“-22rssss£as5! i 

SS^^aS^tegidnBtt 

phone calk impcST Eur^ wrthom being charged for 


Mr. Rockoff would not provide 
information about the defendants, 


the calls. 

Mr. Rockoff said' the case was 


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TRIBUNE, THURSDAY, JULY 18, 1985 


ADVERTISEMENT 



When a man is tired of London he is tired of life; for there is in London all that life can afford." Dr. Samuel Johnson. 20th September. 1777 


OK to Scratch your Nose, 
but just be Careful 


F Kong, and for antiques and auctions it is 
undoubtedly London. The two largest in- 
ternational auctioneers, Christie’s and Sotheby’s, 
founded in the 18th century, still maintain their 
global headquarters here. With the support of 
smaller firms such as Bonhams and Phillips, and 
the specialists Spink & Son and Bloomsbury 
Book Auctions, London remains the undisputed 
world's saleroom capital. 

Little did the founders of the other side of London, 
the big two salerooms realise John So the by , was primarily 
they were starting multi- interested in books. This 
million pound (and dollar) gentlemanly state of affairs 
organisations with offices and continued until the a-rond 
auction rooms throughout half of this century when Pe- 
Bntain and the world. James ter Wilson at Sotheby’s began 
Christie, friend of Thomas to expand the firm on an 
Gainsborough, specialised in international scale. Christie’s 
paintings while his rival on followed, and we now have 


by Miriam Kramer Trade News Editor , The Antique Collector 
lor dance it is New York, for shopping Hong companies with international 


the big two salerooms realise 
they were starting multi- 
million pound (and dollar) 
organisations with offices and 
auction rooms throughout 
Britain and the world. James 
Christie, friend of Thomas 
Gainsborough, specialised in 
paintings while his rival on 


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Study of a Bird signed by Mu'in Misawir. Isfahan. 
Sba’bm, AH 1082'Febnuiy, AD 1671 


This Persian miniature, only 20.2 x 11.2cm, 
was bought for ^10 in a country market. 
Christie’s cataloguer identified it as the work 
of one of the most talented Persian miniature 
painters and to the delight of the vendor it 
was sold for £8,640 on 4th July, 


Christie’s understand things . . . 


8 King Street, St. James’s, London swiy6qt. 
Tel: (01)8399060 

LONDON ■ NEW YORK • GENEVA ■ AMSTERDAM ■ GLASGOW 


turnovers of £477 million 
(Sotheby’s), and £373 million 
(Christie’s). 

Sotheby’s in London still 
organises three major sessions 
of Impressionist, Modern and 
Contemporary sales each 
year, in Spring, at the end of 
June, and in early December. 
Property is accepted up to two 
months before the sale. 

The auction year tradition- 
ally follows a set cycle, with 
peaks in July and December. 
The London salerooms sched- 
ule their blockbusters for 
these times, to attract most 
buyers. 

On 19 July Christie’s will 
hold a sale of English pictures 
including a portrait of Joseph 
Wright of Derby and a pre- 
viously unknown sketch by 
John Constable. 

At Sotheby's meanwhile, 
the week commencing 15 July 
will see English art, antiqui- 
ties and coins being sold, fol- 
lowed die neat week by Eng- 


lish literary books and manu- 
scripts and golfing artefacts. 
Of American interest in the 
books and manuscripts on 
sale are general orders signed 
by Robert E Lee, and a letter 
from the American explorer 
P B Duchaillu. 

All auctions are open to the 
public free of charge. It is 
often said that the best enter- 
tainment in London, par- 
ticularly on a rainy day, is to 
go to one of the salerooms and 
just watch. It is untrue that a 
scratch of the nose means a 
commitment to a hid of thou- 
sands of pounds - a quite defi- 
nite movement has to be made 
before the auctioneer recog- 
nises a serious bid. 


Flying Carpets 
have Landed 


C arpets are not 
simply practical, 
or delightfully dec 
-orative ornaments. They 
are often works of art. 
Certainly the finest have 
been created by artists 
and craftsmen working 
from small workshops in 
the East, Middle East and 
Asia. 


by Moss Murray 


A Tonic for Gin 


There is mystery, myth and legend surrounding gin. 

What is known for certain is that this year is the 
500th anniversary of the Yeomen of the Guard - the 
beefeater, after wham James Burro u gh named his Gin 
when he began distilling and bottling the beverage in 
1820. 

One other fact can also be confirmed, according to 
Don Gregory, the Company’s export director 
“Beefeater has dominated the imported gin market in 
America since our new distribution agreement with 
the Kobrand Corporation of New York in 1946.” 


The finest carpets made 
during the last 500 years have 
come from Persia. For cen- 
turies the world has looked to 
this country for the finest 
rugs, carpets and prayer mats. 
Since the first, world war, as 
well as following the more 
recent upheavals there, most 
of the leading Iranian apH 
Armenian experts have fled in 
large numbers and settled in 
Britain and the US, bringing 
with them a wealth of know- 
ledge and experience that has, 
during the past decade, helped 
establish London as a world 
carpet centre. 

Today buyers from stores in 
a score of countries come to 
London seeking the most ex- 
quisite and COStly handmade 
Persian and other oriental car- 
pets and rugs. These days 
there are more old oriental 

m g * in England tfiari in Pmia 

A respected and long est- 
ablished oriental rug trader is 
the Duval Carpet Company, 
68-70 Leonard Street, London 


Mayfair’s High Street 


L ondoners love Bond Street 
became it is the perfect mis of old 
and new. They 90 together like 
bacon and egg in this three c entur ies old 
home of fashion, the avant garde living 
in ancient buildings, and nobody. is 
outraged. 


by Anne Price 

Street 011 now end continues until 


Bond Street is hemmed in 
on four skies by Piccadilly, 
Park Lane, Oxford Street 
and Regent Street Today, 
tiie long narrow street is 
Hned with international 
fashion names, royal 
warrant holders, antique 
dealers and art galleries. 

Quality means a lot in 


^Barfi 


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Bond Street and ever since 
Sir Thomas Bond gave his 
name to the Street in 1686 it 
has been legendary for aD 
the accessories of gracious 
living. 

Jewellers abound in Bond 
Street Names like Cartier, 
Chaumet and Boucheron 
duster together. But one of 
the finest of all salons is Van 
Geef & Arpels at No 153 
New Bond Street where 
they count among their 
customers top pop 
entertainers as well as 
royalty and international 
businessmen and their 


Juy 25. 

Across foe road Is the 
salon of foe Royal 
Copenhagen Porcelain and 
Georg Jensen which linked 
a few months ago with 
Holmegaard Glass of 
Denmark to form a joint 



prayers, at prices beaming 
at around £60. 

For those who in sist that 
old is beautiful there is 
Massada at 45 New Bond 
Street whose range of 
antique jewflery is, probably, 
foe finest in London. 

Men still have a strong 
hold on Bond Street For the 
modem Bond Street 
Lounger there is Ralph 
Lauren, Armani, Versad, 
Hermes and Daniel Hechter, 
all representing the best In 
imported style. Classy Sulka 
can hand out a good silk 
dressing gown with 
aristocratic ancestry. 


Tltisgotd tare (oOar decorated vnlh 
tiay diamond floroen it pan of a 
mmdmgsaat Van Otef&Aiptb. 


Fine early furniture 


European and Oriental 
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wives. 

A special collection has 
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unique exhibition of finest 
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foe American . Bar 
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company with a worldwide 
turnover of more than £76 
mfihon. Five piece place 
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purchased for £475 and 
there are . some delightful 
new additions to the range 
of attractive child figures in 
fight blue glazed porcelain, 
including a child saying her 


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EMERGENCY CLINIC 




Thecas urc of tine porcelain. 
The pride of Royal Copenhagen. 


:W. 


Royal Copenhagen Porcelain & Georgjensen Silver. 
15 New Bond Scrccc, London WlY 9PF. 
Telephone: 01 -499 6541. 


EC2. Their warehouse re- 
sembles an Aladdin’s care 
with a vast range of 
hand-knotted, carpets - all at 
attractive- prices. 

There are rugs - old and 
new - from Persia, Turkey 
ynd Afghanistan as well as 
China, Russia, Rumania and 
Pakistan. Names like Ispahan, 
Turkoman,. Sinkiang, Qum, 
Bokhara, Hamadan and Tab- 
riz make a visit to Duvals a 
stimulating experience. It is a 
revelation to discover that 
oriental rugs, unlike their 
modern brothers and sisters, 
come in every shape and size 
from tiny prayer rugs to enor- 
mous emperor size carpets. 
The warehouse Is open from 
9.30 a.m. to S p.m. every day 
of tiie week except Saturday, 
and on Sunday from 9.30 a.m. 
until 5 p.m. 

Another well known dealer 
is Majid Amini who was bom 

mlsafahan and now has galler- 


ies in Horsham and Pc worth 
in Sussex. He says: 

“Cleanliness is the most 
important factor in the long 
term preservation of any rug.” 

He also warns against in- 
experienced buyers swimming 
in the deep waters of the 
auction rooms where only the 
experts know how to avoid the 
currents and eddies of rugs 
and rigging. Buyers, he says, 
also need to beware of buying 
at “hotel auctions” unless they 
have inspected what is being 
offered beforehand. 

Only men like Nathan Aaz- 
ollahoff, Josephy Belour and 
Majid Amini, who have spent 
their lives dealing with the 
best Persian and other oriental 
carpets, can offer the expert 
guidance and advice such an 
investment deserves. They are 
not fly by night dealers. They 
have landed in the West and 
intend to stay here. 


SOTHEBYS 


FOUNDED 1744 



AI 


Henry Moore, O.M..C.H., The Family, bronze, height I2.7rm., 1944. 
Henry Moore’s The Family was one of a rich selection of important 
works of art offered at Sotheby's major sale of Impressiunist and 
Modern Paintings and Sculpture on 25th June. 

The next series of sales of Impressionist, Modern and 
Contemporary Art will take place from 3rd to 5th December 
1985. Pro pen y can be accepted until 30th Sepieniber. 

Enquiries: Michel Strauss or Julian Barran. 

Sotheby's, 34-35 New Bond Street, London W l A 2AA 
Telephone: (01) 493 8080 Ext. 355/6 Telex: 24454 SPBLON G 



f- 


► ’ TJ - - & ' - 



4 ( < ‘ v ' > •> 




Choosing an Oriental rug — comparing styles arid 
techniques - is a rewarding experience in itself. 

But the purchase of an item of such beauty is a truly 7 
rare pleasure. .. 7 '. 

At Duval we have literally thousands of hand- \ , 
knotted Oriental carpets. Our location — well away . 
from the West End; and our experience" — over 5p. " 
years, enable us to price our rugs well below market- 
Prices- We have rugs from as little as £40 and we - 
value and buy old carpets. - V- 


VISIT OUR SUMMER SALE TODAY 






i f vO 




















INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


SCIENCE 


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(Coatiaued front Page i) . 
know that Los Alamos is still de- 
signing nodear weapons, amt- is 
working on a new breed of deadly 
devices;, the doected-enercy beam 
weapons envisioned for Resident 
Ronald Reagan's space-based mis* 
site defense plan. 

“My nope," said Donald M. 

Kerr, the laboratory’s director, “is 
that Los Alamos scientists will play 
a prominent role in' reshaping the 
defense posture of America 
through effort along three lines - 
arms control, mid ear weapons and 
advanced weapons concepts.” 

. No tonger a military enclave, Los 
Alamos is administered for the 
U.S. Energy Department by the 

University of California. The 

barbed wire and checkpoints are 
gone. There is a focal Chamber of 
Commerce. Some of the large new 
concrete laboratory braidings are 
open to the public. 

To some visitors, “The HtD," as 
Los Alamos- has been known since 
it was founded, seems a little too 
casual in its accommodation to the 
nndear age Said a tourist from 
Massachusetts: “The folks here be- 
baveas if making a tom bombs were 
as natural and wholesome as milk- 
ing cows.” 

Some people have been mildly 
disturbed by the things on view at 
the recently renovated Bradbury 
Science Museum, part of the Los 
Alamos Laboratory. Tourists can 
team how to manipulate bars of 
simulated plutonium in a laborato- 
ry glove box, sad how to alloy and 
heat plutonium so that it can be 
fabricated into bomb pans. By 
touching computer screens, it is 
possible to get lessons on selecting 
the right structural materials for 
missiles or on designing ICBM 
warheads. 

A recent viator found the feed- 
ings of many at Los Alamos in 
consonance with the words of Mor- 
- to E. Bradbury, a former director 
of the laboratory: “The whole ob- 
ject of making the weapons is not 
to kill people but to find time for 
somebody to find other ways to 
solve these pr oblems." 

Sound-linked System 
Probes Fruit for Larvae 

Nr* York Tunes Semite 

WASHINGTON — Scientists 
have developed a system that can 
detect Caribbean fruit fly larvae in 
grapefruit, loqnat, guava and papa- 
ya without damaging the fruit, the 
Agriculture Department says. 

The system amplifies and broad- 
casts the noises madi» by the chew- 
ing larvae. Dr. J. C- Webb, the en- 
gineer who devised the system, said 
it was so sensitive that in a few 
seconds it could detea a single day- 
old maggot in a grapefruit 


On June 27, two nrites (three ki- 
• lometers) from Trinity Site, the De- 
fense Nuclear Agency fired a gi- 
gantic chemical explosion that 
simulated some of the effects at a 
tactical midear weapon. Experts 
believe it was the most, powerful 
non-nuclear explosion ever set off 
intentionally. But New Mexico res- 
idents took it in stride. . 

Among them was the owner of a 
motel in Bderi; 70 miles (1 13 kilo- 
meters) from the site. “Worried 
about damage to the mold?” she 
said. “Hefl. no. It's nice to know 
they’re doing another bie shot, and 
I just hope well be able to see it 
from here.” • ■ . 

Fireworks are popular ihrougb- 
- out New Mexico (although they are 
banned from Los Alamos), and mm 
stores are ubiquitous. “I can't tnrnfc 
of a better state to have the White 
Sands Missile Range,” said a filling 
station attendant in Carrizazo, a 
town in the lava fields of the Valley 
of Fires, about 30 mites from Trin- 
ity Site. “We kind of Eke big h»np< 
around here, provided they doin 
do no barm.” 

Last month, the laboratory 
staged a reunion for Manhattan 
Project workers — scientists, tech- 
nicians, engineers, laborers, sol- 
diers, WACs and spouses. About 
800 attended, roughly 10 percent of 
the laboratory’s wartime popula- 
tion. Among them was Barbara 
Jean Wilson, now in charge of the 
Los Alamos science museum. Her 
husband is an accelerator physicist 
at the laboratory. 

“It was fun talking over the old 
days,” she said. ”1 was 7 years old 
in 1943 when my father, who had a 
meat market in Santa Ft, was re- 
cruited to work on The HilL A lot 
of the scientists complained about 
iife up here in those days; the coal 
heaters were dangerous mid unreli- 
able. the housing was flimsy, and 
crnly a privileged few had bathtubs. 
But for us, things didn't seem bad. I 
suppose most of the scientists had 
been used to more luxurious sur- 
roundings.” • 

Mrs. Wilson’s daughter Sandy, 
boro and raised at Los Alamos, is 
married to one of the laboratory’s 
srien lists and works ai the facilily’s 
credit union. 

*i suppose you could say our 
family is a product of the atomic 
bomb ” Mrs. Wilson said. “The 
bomb certainly molded many fam- 
ilies in many different ways/* 

In recent years project scientists 
have disclosed that no (me knew for 
sure, mud the actual test, just how 
powerful the bomb would be, or 
indeed whether it would work at 
all There had even been specula- 
tion that a nuclear bomb would 
explode with such intensity that a 
chain fusion reaction might begin 
in theatmospbei^indnerating the 


Years of Living in and Profiting From the Nuclear Age, 


world. Dr. Fermi reportedly bet 
other spectators at the Trinity test 
that if the atmosphere did ignite, 
the conflagration would spread no 
farther than 35 mites, devastating 
only New Mexico. Dr. Bcthc, how- 
ever. had calculated that such a 
chain reaction would not happen. 
Dr. Oppenheimcr accepted lib as- 
sessment and authorized the test. 

Large, top-secret processing 
plants at Oak Ridge, Tennessee, 
and at HanfonL Washington, pro- 
duced enough uranium 235 and 
plutonium fuel to precede with the 
Trinity test and (he bombing of 
Japan. Ga Jaly 1 1, 1945, the pluto- 
nium pans were loaded into a se- 
dan and driven 200 auks south to 
Trinity Site in the Jornada del 
Mnerro, a desolate stretch of desert 
whose name may be translated as 
Deadman's Route or Journey of 
Death. When the time e»n»e on 
Friday the 13th to assemble the 
parts, the phi ionium had heated up 
and would no longer fil together 
with the other components. Only 
by keeping the parts in contact un- 
til their temperatures equalized 
would the bomb, called the Fat 
Man, snap together as designed. 

On the night of Sunday, July 15, 
things continued to go wrong. A 
violent ram storm lashed the tower 
where “the gadget" (as the bomb 
was called in all official communi- 
cations) was mounted, and' there 
was concern about lightning in the 
area. The test was momentarily de- 
layed. But before dawn the weather 
cleared. At 5:29:45 AM. Mountain 
War Time on July 16, 1945, the 
bomb went off. 

There are fewer people each year 
who can remember Dr. Oppenbei- 
mer, a talk intense chain smoker, 
rarely without his pork-pie hat. al- 
ways ready to quote some bit of 
esoterica. sometimes from the San- 
skrit classics. His memory is pre- 
served in a white statue at Las 
Alamos. The work of the war years 
is symbolized by a chunk of green- 
ish rock in the local museum: trini- 
tite, the glassy mineral created by 



0.006 SEC 


2.0 SEC. 


4.0 SEC. 


6.0 SEC. 


la Alamo* Ntacnul labon*» r 


The birth of the atomic bomb, a sequence of photos in the first nuclear explosion in the desert in New Mexico on July 16* 1945. 

New Nuclear Weapons Research Proceeding ai Furious Pace 


Dr. Oppenbdmer and some of 
his Manhattan Project colleagues 
dreamed of a world in which the 
scientists who created the atomic 
bomb would lead the way toward 
eliminating aO forms of war. Dr. 
Ken-, whols to step down' asdirec- 
tor of the laboratory in' October, 
does not share that hope. 

“At the end of World War U,” 
Dr. Kerr recently wrote, "those at 
Los Alamos learned with the rest of 
the world that technical develop- 
ments were beyond the control of 
die small group of scientists who 
pleaded that mar work be used 
solely for peaceful purposes .” The 
most today’s weapons scientist can 


hope for, he concluded, is that “the 
voices for peace w^l prevail.” • ■ 


By William J. Broad 

New York Tima Semite 

T HE creative urge that shook 
the Earth 40 years ago with the 
detonation of the first atom bomb 
is undergoing a renaissance. 

Scientists and federal officials 
say new kinds of nudear aims are 
being wna ginfxt, developed and ex- 
ploded at a furious pace. 

Recent progray of the bomb re- 
flect an evolution away from the 
brute force of a huge explosion to- 
ward ways of harnessing that ex- 
plosion for specific tasks. There are 
the X-ray lasers in which a nuclear 
explosion is the power source for 
the creation of deadly beams of 
radiation. There are the much less 
ulked-about. more exotic designs 
for anti-matter weapons and brain 
bombs, whose objective is the prop- 
agation of widespread confusion. 

The design of nuclear weapons is 
a secretive business. Nonetheless, a 
review of public documents and 
interviews with government scien- 
tists, federal officials and weapon 
experts outride the government re- 
veal several distinct types of weap- 
ons that have been tested or pro- 
posed in the nuclear era. 

• All atom bombs, known as fu- 
sion weapons, split heavy atoms to 
liberate nndear energy. The first 
atom bomb was detracted 40 years 
ago Tuesday, before dawn on July 
16, 1945, in the darkness of the 
central New Mexico desert The 
bombs dropped on Hiroshima and 
Nagasaki were atom bombs, the 
former fueled by uranium, ihe lat- 
ter by plutonium. 

» The next major step in the evo- 
lution of tbe U. S. nudear arsenal 
was the hydrogen bomb, which de- 
rives its energy by fusing together 
isotopes of hydrogen to release 
more of the mergy stored in the 
nucleus of the atom. (Fission splits 
an atom's nucleus into fragments; 
fusion forces nuclei together.) The 
Jim H-bomb test was in 1952. 

• In (heT950s, designers of nu- 


dear weapons talked of making 
bombs with enhanced radioactive 
fallout, known as residual radia- 
tion. All it took was wrapping an 
H-bomb with cobalt, a steel-gray 
metal that is easily turned into its 
radioactive isotope, cobalt 60, 
when exposed to H-bomb radia- 
tions. It is not known whether co- 
balt bombs were ever made or 
slocked by any nation. 

• A special type of H-bomb that 
did go into production is the neu- 
tron bomb, which emits enhanced 
prompt (not residual) radiation. In 
normal fission reactions, blast and 
heat make up tbe vast majority of 
the energy released, while prompt, 
destructive radiation (such as that 
from neutrons) accounts for only 5 
percent of tbe total A neutron 
bomb can release ax to ten times as 
much neutron radiation as a pure 
fission weapon of the same yield. 
Neutron bombs are meant to kill 
tank crews by lethal irradiation. 

• In the late 1960s and early 
1970s special nuclear warheads 
were developed that generated en- 
hanced radiation in (he X-ray por- 
tion of tbe electromagnetic spec- 
trum. Tbe goal was to knock out 
distant enemy warheads. Fnhinrwt 
X-ray warheads were fitted -atop 
interceptors of the $5.7-billion 
Safeguard ami-ballistic missile sys- 
tem, which was bnOt at the north- 
ern edge of North Dakota and 
eventually abandoned. 

• In the 1970s, weapon scientists 
at tbe Lawrence Livermore Nation- 
al Laboratory in California, the 
second of the nation’s two nudear 
laboratories, developed the re- 
duced residual radiation bomb, a 
tactical warhead that “dramatically 
reduces fallout,” according to a 
laboratory brochure. 

• Not aD steps in the evolution 
of nuclear weaponry involve funda- 
mental changes in materials and 
methods. Most involve refine- 
ments. For instance, according to 
the Livermore publication “Energy 
and Technology Review," the lab- 


oratory has “designed, tested, and 
evaluated” a lightweight, low-yield 
fission device that might serve as 
“the warhead for an anti-satellite 
weapon.” 

• A radical departure from A- 
bombs and H-bombs are a nest- 
generation of nuclear weapons that 
focus the power of nuclear explo- 
sions. rather than letting the force 
escape in all directions. The pre- 
mier third-generation device is tbe 
X-ray laser, which channels the 
power of a nuclear explosion into 
laser rods that emit powerful bursts 
of concentrated radiation before 
the whole device is consumed by its 
nudear firebalL 

• Less developed than X-ray la- 
sers are third-generation weapons 
meant to create an enhanced elec- 
tromagnetic pulse, or EMP. This 
powerful suree of electromagne- 
tism can knock out computers and 
delicate electronics. It is produced 
by any nudear weapon exploded 
above the Earth’s atmosphere, its 
pulse blanketing the area below. 

• Similar to EMP bombs, micro- 
wave weapons concentrate nudear 
energy into a narrower band of 
frequencies of (he electromagnetic 
spectrum in order to try to knock 
out enemy missiles, according to 
government weapon experts. 

• In contrast to weapons that 
enhance or suppress different pans 
of the electromagnetic spectrum 
and thus manipulate energy, parti- 
de beam weapons focus on matter, 
trying to accelerate subatomic par- 
ticles to nearly the speed of light. 
■ A futuristic device said by scien- 
tists to be the focus of intense inter- 
est is the gamma-ray laser. Its co- 
herent radiation would have a 
wavelength shorter than that of (he 
X-ray lasers, and would thus be 
more powerful 

• In the fission and fusion reac- 
tions of nuclear weapons, only a 
tiny fraction of matter is turned 
into energy, from which the weap- 
ons nonetheless get their spectacu- 


lar power. Reactions between mat- 
ter and anti-matter produce a 
complete liberation of energy. If 
perfected, anti-matter bombs could 
be extremely small yet powerful. 

• Dr. John Nuckolls, head of 
physics at the Livermore laborato- 
ry. says humans suffer confusion 
and disorientation when subjected 
to long wavelength radiation of 
great strength; thus, he said, physi- 
cists might one day find a way to 
direct and concentrate the power 


from nuclear weapons into this 

part of (he electromagnetic spec- 
trum. producing a bomb that 
would leave an enemy stunned and 
unable to wage war. 

With many of the weapons de- 
scribed here, especially tbe latter 
ones, it is unclear whether propos- 
als ftpve gone beyond the specula- 
tive stage to the point of being 
developed and actually detonated 
at the government's underground 
test rite in Nevada. 


IN BRIEF 


Snakes Called Female Impersonators 

AUSTIN. Texas (WP) — Some male garter snakes impersonate fe- 
males so as to distract amorous rivals, two University of Texas zoologists 
have found. They said tbe ploy — which is known as female mimicry and 
has been noted in other species, mainly fish — was probably a way of 
gaining better access to females. 

At garter-snake mating time, one female may draw from 10 to 100 
males into a writhing tangle of snakes. No matter how big the mating ball, 
as it is called, only one male succeeds. 

Tbe Texas zoologists, Robert T. Mason and David Crews, discovered 
that 14 percent of garter-snake mating balls contained no female but 
instead one male that was producing the female pheromone, a substance 
that draws males. They found that when these males, which they dubbed 
“sfto-maJes.” joined established mating balls, they distracted ordinary 
males and thus perhaps had a better chance of 'mating with the real 
female. 

Moon 'Lunacy’ Notion Debunked 

BUFFALO, New York (NYT) — The full moon has been held since 
ancient tunes to be a cause of lunacy and an incitement to lunatic 
behavior; as recently as 1978, a Miami psychiatrist, Arnold lieber. 
asserted in his book “The Lunar Effect” that scientific evidence support- 
ed such a notion. 

Now Nicholas Sanduleak, an astronomer at Case Western Reserve 
University in Cleveland, citing 10 years' worth of data on homicidal 
assaults, says day-to-day fluctuations in the assault rate do not show any 
correlation with the lunar cycle. 

Lieber contended that moon-linked “biological tides” influenced emo- 
tions. If this were so, the most marked effects would be absented when the 
moon’s tidal pull was reinforced by the sun's, but even then than is no 
correlation with (he assault rate, Sanduleak writes in The Skeptical 
Inquirer, a journal on paranormal phenomena. He did confirm, he said, 
that homicidal assaults were much more likely on weekends and slightly 
more likely during July and August 



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NYSE Diaries 


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yia The Associated Press ' 


AMEX Diaries 


NASDAQ Index 


AMEX Most Actives 


Advanced 
DvouwkS _ 
UffOmneeO 
Total issues 
NSW Htoh* 
Now Lows 


3S2 3S7 

227 210 

20 2*8 

*21 813 

71 (C 

7 7 


Composite 

Industrials 

Finance 


305.17 307.25 297.15 22350 
31 CM2 3U7B K2J2 251X3 
39iM — 3*5J0 2005 

36474 — 35430 2XLB2 

302.11 — 29406 21091 

S M — 294*5 19455 

53 — 263.16 194<| 


Standard & Poor’s Index 


Previous Today 
H*h Lew Close 3PJ4 
industrials 21413 21478 21414 21S3I 

Tran*. 181.37 179.10 181.37 1*1X5 

utilities 90*9 90.15 9449 *411 

Finance 23*3 2X54 am zua 

Composite 1*472 mj2 19472 19579 




AMEX Stock Index 


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19ft ABUM X U It 55 29ft 20ft 28*6— *6 

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37 ACancrt ISO XS 5 5* S* * 

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31 70ft 70*6 70*6 + *6 

X 36ft 25ft 35ft- ft 

TB 12ft lift lift— ft 


Untied Preu huenauaaai 

NEW YORK — The stock market was sharp- 
ly ahead in active trading late Wednesday as 
investors bet that the Federal Reserve would 
allow interest cates to dedine to counter weak- 
ness in the U.S. economy. 

The Dow Jones industrial average Himhpd 
9 JO to IJ57.19 an hoar before the dose. 

Advancing issues outnumbered declines by a 
3-to-2 ratio. Volume amounted to about 137 

Although prices in rabies on these pages are from 
the 4 P.M. dose in New York . ; for time reasons, 
this article is based on the market at 3 P.M. 


million shares, compared with 102.7 million in 
the same period Tuesday. 

Prices were higher in very active trading of 
American Stock Exchange issues;' 

Analysts said the market drew strength from 
expectations that the Federal "Reserve will allow 
a fall in interest rates to stimulate tbe economy. 
But several market strategists warned against 
excessive optimism. 

“We’ve had a strong stock market but there 
are so many smites on the faces of market 
participant that Tni getting very nervoTO," said 
Alfred Goldman of A.G. Edwards in St Louis. 

“Aggressive investors should start taking a 
much more cautious stance;’’ Mr. Goldman 
said. “People are not thntiong about the down- 
side risk iuid that is chafactoistic of a market 
that is 'reaching a short-term top,” be said. 

He called economic conditions uncertain and 
tbe market over-bought. 

“Tbe market is obviously betting that Federal 


Reserve Chairman Pad Vdcker will allow in- 
terest rates to fall enough to s timulate the econ- 
omy,” said Jack Sullivan of Van Kasper & Co. 

“I don't want to put the pin in the balloon but 
people are betting the ranch a nd everything 
around the coiner and it could start to unravel” 
be said. 

Mr. Sullivan said tbe deficit problem still 
“looms vety significantly on the horizon and is 
being ignored m the current euphoria.” 

Before the market opened, the Commerce 
Department reported that U.S. personal income 
rose 0.5 percent in June white housing starts 
climbed 1.9 percent. 

Phillips Petroleum was near the top of the 
active list and off slightly. 

- IBM was gauungand most other technology 
stocks added to Tuesday’s sharp advances. 
Control Data was of! modestly after reporting 
sharply lower second-quarter eamings but Mo- 
torola, Cray Research, Texas Instruments, Digi- 
tal Equipment, Advanced Micro Devices and 
NCR Corp. were all higher. 

National Semiconductor was ahead modest- 
ly- ‘ 

AMR Coip^ the parent of American Airlines, 
and UAL Ino, the parent of United Airlines 
were modestly lower. 

Bankamerica Corp. was easier after it report- 
ed an expected loss for the second quarter. 

AT&T was ahead. 

Federal Express Crop, was advancing. 

United Technologies was lower. 

BJF. Goodrich was lower after reposting 
losses for the second quarter and for the first ax 
months of the year. 


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45ft 46ft 
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34 34ft + ft 
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52ft 52ft + ft 
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17 17*6— ft 

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70ft 71 —1 

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sasazs 

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rift 39ft + ft 
1916 19ft— ft 
12ft 13*6 — ft 
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9 9 

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82ft 82ft— ft 
lift lift + ft 
ttft 13ft 
23ft 23ft— ft 
27ft 28 
64*6 54ft -1ft 
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2*6 2ft 



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lift 916 
3016 1616 
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lift Ift 
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54ft 32ft 

20ft 13ft 
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133 21*6 21 21 ft + ft 
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100 125 9 » 8*6 9 — ft 

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17 3304 15 ft 15 ft 15 ft 

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1109 23ft 22ft 23ft + ft 
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69 01% 9 

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12 11 Bft 016 Oft 

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8 60 17*6 1716 17*6 + 16 

1645 13 ft 13 13 ft— ft 

113 11*6 11*6 lift— ft 

4 * Eft 2 S 25 — ft 

151 U 16 13*6 13 ft 
2293 3 «ft 35*6 36 ft— M 

12 37 34*6 24 ft 31 * 6 — ft 

12 1019 12816 126*6137 + ft 

22 16 I 7 ft B | 

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U 35 ft 36 ft 36 ft 

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^ 150 a 3 3 

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9 E 3016 30 20 * 6—16 

13 3 H 25*6 Sm 26 ft— U 

19 550 23 ft 21*6 33 ft— ft 

5142 24 ft 33 ft 23 ft— M 

12 3516 25*6 25 ft + *6 

85 52*6 52 M 52 ft + ft 

13 445 9 ft 9 9 —ft 

124 3 ft 3*6 3 ft 

138 ft ft + 

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6 1445 63*6 « * 3 ft + ft 

22 O 47 ft 47 ft 

» SS 14 «16 SH 6 + M 

a SSft 54*6 54 * 6 — ft 

9 49 22*6 21*6 21 * 6 — W 

14 3 W 31 30 X 

6 1913 44 43 ft 43*6 + Ml 

4 43 ft 43 ft 43 ft + ft 

*3 54 ft Sift Sift 

» 87 34 ft 3516 rift— ft 

10 4890 34*6 33 ft 34 ft - ft 



rift 

39*613 

29*6 

8*6 

4 

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«ft 

CI6 

3M6 

39ft 

28*6 

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— *6 

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'age 8 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


WfednesdajS 


MSE 


Tables Include the nolHmwMe Price* 

up to me dosim on Well street 
and do not reflect late trades elsewhere. 


B Month 

HWiutw sees 


Div. YU. PE 


WfeHtahLow 


Casa 

QufltOnw 


(Continued from Page 7) 

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270 37* 31% 32* + M 
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154 55 11 92732*32*32% + % 

15 11 2130 16% 13% 15% + * 
2.1 16 33 17* 16% 17* 

3 1094 9* 9% 9* + * 

2282 32% 32% 32% 

1 32* 32* 32* + % 

35 17* 17 17* + * 

9 18 18 18 

560d05M 105 105% + * 
298 24* 24 24* + * 

7 25% 25* 25% 

45 30% 30* 30*— % 
865 37% 36% 37*—% 
1189 34* 34* 34% 

10 29% 29* 29%— * 

10 1268 20 19* 28 + M 

M 4748 19% 14% 15 + M 

23 14 394 38% 97* 37%—% 

6 19* 19% 19*— % 
49 31 30 30* — U 

149 14* 14 14% 

2260 37% 37* 37% + % 

110Hz 45% 45% 45*— % 

3 49* 49* 49* + % 

33% 34 + % 

43% 43%— * 

771 V* 8% 3V> — * 

1340z31 30* 31 

360z 31 32% 33 

400* 37 37 37 « 

15402 53* 52 S3* + * 

10X 56 56 56 

89 31% 29% 31% + * 
47 25% 24* 24*— % 
<9 26% 26 2Uk + * 
26 20 27% 27% — % 

19 28 27% 27% +1% 

32 28* 27 a* + % 
5 18 17* 17*— * 

34 16% 14 14* — * 

142 20% 27% 28* + * 
34 18 17% 16 + % 

22 2127 44 4M 44 + % 

357 7% 7* 7% + % 

244 1% 1* 1% 

S "m"*"*-* 

■ 2 S 6 11 % 11 % 11 % + % 

9 1639 24* «* 24% — * 


16% 10% Polrtd 
77 13* FomOl 9 

31* 23 Ftmtr 
a* 14% Foroti 
13 8% FavDra 

6% 4* Fodon 
40 29% FkdIGo 

47% 31* FadExp 
39 29% FflMOB 

27% 10% FcdNM 
27 16% FOfllPB . . 

29 25* FPoppf 2J1 

23 16% FodRIt 144 

mb 13% FdSem 
65% 45% FedDSt 
32 22* roiru 

35 25* F ideal 

IT* 4 FTrCpA 


.18 14 10 
JO 3 » 
5 

N 4j a 
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JB» .4 0 
131 i! 1 


613 13V« 13 13 - % 

397 14% 24% 24% 

8 31% 31 31% 4 * 

278 19* 18% 18% — % 

247 10% 9% 18% + % 
172 5% 5% 5% . 

. 162 41* 40 41 +1 

3315734 50% 49% 50 +2% 

4.1 II 806 37* 36% 37* + * 

J 4155 21* 91* 21% 

* 218 20* 19% 19%— % 

141 29 28* 28* 

67 22% 22 22% 

54 ink 17% 17% 

1721 60% 60 60 —1 

538 29% 78* 29% + * 

51 29* 29* 29%— * 

1115 7* 7 7% 

6 5% 5% 5% — % 

33 33% 33* 33*- % 
913 4 5% 4 + % 

990 21% 21* 21% + % 

m 27* 26% 27% + * 

974 43 42% 42% 

5 32 31% 31% 


2.100)04 
3N +7 13 
JO 54 6 
52 7 


240 


UB 
.16 . 

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65 14 
80 <6 15 
154 42 8 
1JD 4.1 14 
IN 34 13 
JUST 


33 

11* 

7% 

52 


ja 

440 

40 

1.12 


5% 3% FlnCs pf 40 H J 
40 14* FlnCopf 641019 J 

6 2% FnSBor 

22% 16% FlroWn 40 17 10 
2m 12* FI Alii 48 25 10 
42% 21* FIBkSv IN U 9 

32* 21* FBkPIS UO 3.1 14 

91 37% FBotf 2J»a 22 14 1106 93% 91% 92% +1% 

4$% 18% FBwtwl 241 46% 46% 46% +1% 

27 18% F stOVc U2 54 2227 26% 23* 24% +1 

54% 44% FCM 0 Pf 573*123 300 47 46% 46%-% 

B3% 70 FChlpfB 8490112 23 74 73 73 — 1 

18% 11 FTBT8X 130 1W S 1537 12% 12% 12%-% 


19% 16 11(3*5* 

>0% SS Intern 

13% 9% Infffii 

33% 41 inirik 
13% 8% Intmod 
24% 14* IBIAlU 
138* 104% IBM 
29 15*4 liffCtrt 

23% irrtFknr 
5% IntHonr 
2 % intHrwt 
— 23% min ptc 

34* 17* InmpfD 
<3* 33 InTMn 

34% 23* IntMutt 176 54 I J 335 34% 34% 34% + % 
5734 46.. IntFppr 2A0 44 SB 2218 50% S 50* 

24 16? 13. 12% 12* 

m 8 

2S » 


240 


34 19% T9% 19* -t %H 

283 66 65% 66 + % 

382 II* IT 1t%- % 

68 50 49% M 
118 18% 9% 9%— % 
32 9 96 20% 19* 20% +1 

34 1318844 130*129 129% + % 
12 12 419 27% 25% 27% +1* 
32 17 3376 33% 32 32% + % 

7876 8% 8* I*— % 

UO 5% 5* 5*— % 

8 49* 48% 49* + * 
215 26 25* 25% + % 

Ml? 061 40* 40V. 48* + % 


JS 

sm 

32 


84 9 


35 FtSTX Pf 546*148 
32* FIBTx pf 548e1S4 
— 10 
U 7 

50 a 


54 

2i § Fran- 
24* 10% FFedAz 
60 35% FFB 


208 


74 
24 9 
17 


55% 33% F Intale 250 
34* 21* Flntifpf 2J7 
11% 7% FIMUn 24 
26* 16 FlNotnn 
7% 4% FsfPa 
30* 20* FStPO Pi 242 
31% 24* FlUnftt 
saw 15* FrveM 
33* 17* FIWISC 
$3% 29 FKehb 

11% B% FIshFd 

43 21* FlfFnGs 1J2 11 10 

49 47% FltFpf 4310 84 

2H* 14% Fleet En 44 11 9 

39* 25% Flomno 100 U u 1742 39% 30 38% - % 

13% 10* Ftalpf 141 122 13 13* 13% 13* 

29* 14% Flaws I e .16 4 21 1641 29 27* 27* — 1H 


90 

156 64 16 
40 U H 
130 40 10 
UH 30423 
Jtse 


9 40* 40 40* + % 

34 38* 37* 37* 

209 10% 10% 10*- * 
216 22% 22% 23% - % 
51 57% 57* 57* 

519 53* 9% 52*-% 
224 32% 32 37* + * 

514 9% 9 9*—* 

109 24% 36 26* 4- % 

568 7% 7 7U 

144 29* 29 29*— * 

50 29% 29% 29% + % 
447 25% 27% 27% — * 
385 33* 32* 32*— * 
34 33% 33* 33% + * 
49 11% 11* II*— % 
155 42% 42* 42% + * 
380 50* 50* 50* +1* 
1877 21% 20% Z1 — % 


274 73 
308 04 9 
304 7 J 10 
34 24 13 
1.96 49 7 
1.13 3J 19 
JS6 

.12 A 
144*03 
1.52 24 7 

936 T2J 
0.12 124 
BOO 124 
708 124 


2D 


.160 A 14 
2.16 7J 9 
40 23 18 


47 27 19 
40 3J 
200 30 13 
240 54 3 
1J6 104 


32* 14* FloalPt 
45% 29* Flo EC 
29 19% FloPre 

18% 11% FtaSM 
6% 3* FlwGtn 
71 12% Flows 

20% 14% Fluor 
5B% 47* FoafeC 
51% 36% FordM 

13* 10% FtOeor 

7B 53% FtNawd 144 2.1 18 
15% 10 F0UVW1 44 34 13 
11* 6% F 0*5 IP 48 60 13 
33% 24% Foxbrn 144 4.1 88 

27 22* Fokkivt 14 

22% 18% FMEPn 35* 24 

10% 9% FMGCn 
IS* 7% FMOC 241t250 
22% 13% FrofMe 

34% 22% Frtetm 40 2.1 17 

28* 20 Fruetrts 40 20 6 

32% 25% FruMpf 240 74 

36% 22% FiMua 48 1J 9 

36% 17* GAF .206 A 12 
37% 25% GAT X 140 40 14 
47* 33* GATX pf XSB Aj 
51% 49* GATX Pf 4.V3P 9.9 


If 1115 34% 32% 33% + % 


100 14 11 


308 73 
248 10J 


U 23 
10 23 
40 4.1 IB 
06 17 15 


17 


34% 15% GCA 

78% 48% GEICO 

7 3* GEO 

12% 5* GF Cp 

44% 37 GTE 
24% 19% GTE Pf 

9 3M GffllHou 

66% 38% Gonnoff 148 

20 18* GOPlne JO 

17* 9% Geartrt 

21 13% Gdca 

12 * 9 % Canute 

1Mb 10 Conlll 
51% 31% GACorp 

18% 14% GAInv .... 

46* 31% GnBon 140 

39% 22% GCkmi 40 

21 IM GADote 

84 50* GnDm 

65* 48* G«nEI 

S3* S3 GflFda 

7% 5* GGttin 

9* 5* GAffme 

17 1«%GHasli JO 10 
15% 8% GAHHIS 3A 2 A 

27* 144b GAlmr JS 10 

64 47% GUlMllfb 124 18 

85 64* GMOI 54Br 73 

42 16% GM E S 451 .1 

43* 34* GJMolpf 3.75 89 

58* 44% GlWdfpf 508 

9 3% GNC .16 

15% 8% GPU 

92% 46* Gen Re 1J6 

14* 5 GnRafr 


6B 44% 43% 44% + % 

3306 39% ®% 28% — % 

329 15% 14* 15* +1 

134 5% SVi 5%— % 

203 19% 19 19% + % 

1727 17% 17% 17% 

29 58% 58 58% + % 

9191 43% 43% 43% + % 

61 13% 13 11% + * 

198 78* 76% 76% — 1% 
391 13% 12% 13 +% 

124 11* II II* + % 
296 25* 25% 25% 

664 22% 22 22% — % 

105 19* 19% 19% + % 
900 10% M% 10* + * 
215 9% 9% 9% 

30 14 2368 20% 20 26% — % 
' — 81 28* 28% 28% — % 
730 34% 24 74% + % 

214 28% 28* 28% 

135 33% 33 33 — % 

458 35% 34% 34%— % 
211 38% 29* 30% + % 

1 39% 39% 39% — % 
10 50 50 50 — * 

943 19 18% 18% + % 

76 73* 73 73 + * 

■2 3* 3% 3* + * 

44 7% 7% 7% + * 

5022 42% 42* 42% + * 

30 24% »* 24* — * 

30 3* 3% 3%—%. 

1223 65* 65% 65% + % 
339 2H* 28 Si — * 
325 9% 9% 9*— % 

581 21* 20% 20* + * 
217 II 10* 10*— % 

156 12 II* 11% 

I J0b JJ 51 1009 47* 46% 46* — % 

143a 8.9 64 18% 18 10* + % 

22 8 91 46 44% 45 — % 

10 12 1295 38* 37*4 38%- % 
15 46V 14% 13* 13% + % 

I JO 1J 9 2435 80* 79% 79* + % 

220 30 12 W07 63* 62% 63* + % 

13 1588 83% 82* B2%— * 
18 6* 6* 5* 

12 140 6% 6% 6% 

3 564 16% IS* 15% — %| 

30 10* 10% 10%— * 

2823 17* 16* 17 + * 

36 1622 60% 59% 59%—% 

4 8423 69* 60% 69 + * 

3219 43* 41% <1* +1%. 

33 43* 41 42* +1 

41 55* 3S% 55% 

73 5% 5* 5% + Vi 

1416 15 14% 14% — U, 

587 V2* 91* 91% — fk 
269 10% 9% 10*— % 


17% 9* Inf Re I 
54% 32* imurtti 240 
IBS 126 IntHtPfJUD 
43* 28% infpMJp IJ0 
19* 10% infOOfcr 
22% 10 InfafPw WO _ 

22 17% (rPwbI 128 109 

21% 15% IcnraEI 1J0 U 10 
95 22% lowlKS 

37% 25% IowqRs 
39* 27% IPO too 
13* 9* IpCoCp 
40% 25 frvBnk 
35* 20 JWTj 
34% 23% JRtvcr 
201k 14 JamsMV 
13* 10% JapnF 
45* 26* JoffPU 
77 56% JorCpf 

M 48 JorCpf 
66% 47 JtfCpf 

65 45% JerCof 

106 90 JtfCpf 1300 13J 

18* 12% JorC ot 2.18 120 

12% 6 Jewicr 
49% 28 JohnJn 
46* 37KJ JWMCn 
27* 71% Jarptn 
26ta ]<;.» JodsiTB 
27% 21* JOVMta 
9% 7% KOI 

19% 9% KUIA3 

42% 33% KMI pf 
41% 29* Kmart 
40* 28 KNEflB 
16% 12% KOlSTAI .... 

59 Vi 51 KalSTpf US 
21 w M% KalsCa 20 
IV 15* KalCPf 1J7 
13* 7* Karwb M 

26* IS KCtvPL. 2J6 
3V 39 KCPL pf 4J5 11 J 
40 29* KCPL Pf 400 1U 

20* 14% KCPL Pf Z20 107 
21* 15% KCPLpf 2J3 11J 
55* 36% KCSOU IRQ LB 
14 % jo* KC5opf i-M as 
19% 13% KonGE 2J6 1Z6 
41% 29% KonPLt 196 7J 
23* 18% KaPL Pf 2J2 10D 

23 17% KaPL pf 223 9 1 

45 13% Kofyin 

115 36% Katypf 

20 10* KoufBr 

18% 13% Kaufpf 
88 70* Kaufpf 

60 29% KeUOBB 

38% 22 Kedwd 

2% % Ktnal 

26 19* Kanmt 

29% 21 KyUtll 
16* 9% KsrrGf 44 
26% 17% Ken^pf MB 
33% 26* Kerr Me 1.10 
31% 17% KevBk 1J0 
15% 12 Kevlnis 48 
37% 26% Kldde 1J8 
86 . 62 K Id PtC 4J0 
57* 42* Kldde pf 104 
59% 40 KlmbCl 202 4J 11 
40* 23% KiwfrfRW M 
29 19* Koper 200 


1250 43% 43* 43*- K 
10 ISO 150 150 — 4% 
267 42* 41% 4M +1 
28 18% 18* 10% + kb 
U4 22% 22% 22% 
2000x31 21 21 — * 

84 21% 2TK 21*— Ik 

8 3071 36 34% 34% — % 

95 36 351k 35%-% 

151 40 39% 39% - % 

B3 13% 12% 129k— Vk 
406 40% 39* 40 + * 
... 231 33% 35* 35% + Vh 

U 11 1142 JS 34* 34% + % 
12 Z26 27% 26% 27* + * 
213 11 % 11 % T 1 * 

530 44% 43V* 44%+ * 
1750x 77 76% 76% — * 

l«0x 65% 65% 65% +1% 
m«z 64% 64% 44% + M 
max 63% 63% 61% —1% 
1 00x101 KM 104 +1% 

80 18* 10% 18% 

_ 9 12* 12 12 — * 

1J0 U 16 4719 48* 47% 47%— M 
I J6d 44 9 1072 42% 42% 42% + * 

108 4J 17 31 25* 24% 25 — % 

JO 11 15 280 26% 25* 25%—% 

140 4.1 14 141 23% 2Mb 23% + % 
JO 20 11 17V Hk 0% •* 

47B 74 9 3607 20% 19% 19% + * 

400 100 2 42* 42* 4» + % 

140 IB 1010995 37* 36% 36% 

148 3J 16 64 37% 37% 37%-% 

1572 13% 13 13% + % 

1 55 55 55 +1 

46 U* II 18* 

26 18* II 18* + * 

393 8 % 8 * 8 *— * 

5 3847 34* 24% 34* 

591 Ox 39% 37% 39% + % 
Sit 38 38 38 — % 

5 20ft 2D 30% + % 
5 31* 21* 31* 

( 246 S«» 54* 54* — % 

2 % 12 * 12 * 12 * — U 

4 4430 19 18% 18% — * 

9 69 41* 40% 40%—% 
8 23% 23* 23* — * 
12 22% 22* 22% + % 

356 15% 14% 15% + % 

8 41 38 41 42% 

5 50B 17ft 17% 17% — * 

4 18 18 IB + * 

5 84 84 84 

257 59% 59* 59% + % 

3“%^ “Sr* 

230 20% 20% 20% + % 
165 29% 29% 29% — * 
100 12 % 11 % 11 %— * 
32 19* 18% 19% + % 
1326 29* 28% 99 — % 
244 31* 31 » +% 

199 15 14% 14% + % 

445 aS* 35% 35% 

2 83% 83% 83%—% 

1 56 56 56 

465 58% 57% 5B* + % 
1.9 18 1055 39% 38% 39% + % 
BJ 51 124 28% 38 28—% 


1 33 33 33 + % 

198 78* IB 18*— * 
383 29 28% 28% + % 

311 47% 46% 46% — % 
rm 4* 4% 4* + % 

.9 69 1 KB 27% Z7 27% + * 
0.1 227 61% 6114 61% + % 

L7 16 3373 31% 38% 31%— Vk 

2 0 0 0 + % 

1J6 3.9 12 487 21 27% 27*— V* 

3622711 13% 13% IM + % 

116 31 30% 30% — % 

31 15% 15% 15% + % 
56 11% 11% 11*— Ik 

255 33 33% 32%- % 

ZTBx 15* 15 15 — * 

117 11% 11* 11% + * 
93 46% 46% 46%—% 
43 28* 27% 28% + % 

9927 29* 28% 29% + % 
5B135 35 35 

74 74 74 

17V* Wk 19% + Vk 
33 31% 31*- * 
17% 17% 17% 

56* SS 56* + % 
17% 17% 17*- * 
8% 0% » + * 
H» 2J 41 1863 45% 44% 45 +2 

59 1% 1% 1% 

W9 21% Zl% 21% + % 

160* 30% 30% 30% + * 

130x 34% 31% 34%— % 

150Z 37 37 37 +* 

50Z 45 45 45 +1% 

41 28% 28% 20% + % 
565 25% 25* 25* + % 
58 15% 15% 15% 

241 15 14% 14% + % 

624 33% 3m 30% —7* 

39 mi M 13% 13% — % 

9 KM8 71% JW4 71 + % 

Nomr 240 5.1 10 3089 4* 47* 47%— % 

Noratrpf 44*8 94 1 50* 50* 50% + % 


33% 27* NOlaipf ZJS 68 
20 11* NefEdu 17 

30* 20 NdtFGt 2J9 7J 7 
48% 28 NafG VP 100 44 7 
4% 2* NtHom 

33* 23* Nil 
65 52* Nil pi 

3Mk 17* NMHE 
II* 6% N MlneS 
29 22* NIPrasf 

16% 9* Ntseml 
30% 22% NSv«ln 100 JJ 12 
10 II* N Stand 40 25 13 
13 10 Hereon A4c 54 7 

33* 23* NavPw 2J4 SO 10 
15% 13 NavPDf 140 107 
12% 0* NavflvL 00 44 9 
46* 31% N Ena El 540 7J 7 
29 22* NJRIC 1® 70 10 

2«% W% NYSE S 206 SO 6 

35 24* NYSpf 375 107 
76% 55* NYSpf 800 IW 
19% 14% NYSpf 2.12 U0 
32% 24% NYSPfD 375 119 

19 U% Hawaii 08 20 11 
99% 32% NentwJ 900*170 27 
10 11% NawfHI lOOtlOJ 5 

9% 7% NwtiIRs 272*31.1 9 
46% 31 Nnrmf 
3* 1* Nwporfc 
21* 13* MUMP 200 90 7 
33% 23* MoMpf 
25* 2414 NIOMPf 
38 26% NhaMof 

45% 34 N lotted 
20% 26% NtoMpf 

36 20 NlaMpf 272*100 

18% IS NlOBSI) 175*124 
18% 10% fUootet .12 o 
33* 34* NICOR 3JM . 90 
10 12* NoMAf .Mb 3 

70U 40* NorfkSo 340 40 
30* 8% North 
«% 30 
51 43 


456 9* 9* VH — * 

156 46 45% 46 + H 

9 27% 27% 27% + n ■ 

<35 33* 33* 33* + - 

37 28* a* 28% + 

50 101U T01* 101% 4, 

308 24% 33% 24 — *b 

615 24 * 23% 34 — * 

309 13% 12% 13% + * 

4J 14 3158 44 43 42*— * 

11 22 % 22 % 22 %- % 

lew 14% ljfk 14% a % 

0745 29* a* 79%— * 

4 49 49 49 — * 

11 109* 189 109* * . 

1025 36* 36% 36* + * 

4 78 77 78 +2 


7 

II 

19 

171 

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92* 


114 . 

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545 117 
Old 2.1 


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394 17 
27 30 


16% 16* 


19 12 Norm 

56* 43% NACdqI 

45% 30 MAPflll . 

20* 13% NEurO 108a VO IB 156 18 I7%* 17* + % 

17* 11 NoaofVT 108 15 6 2640 10 17* 17% + % 

15* 18% NlndFS 1J6 122 ID 1310 13% 13% 13% — * 


08 

UO 

WO 


. .. 57% 58 +1* 

27 7 1705 34% 33% 34% + % 


.151 


86 

u 

70 


97 


40 41* NIPS Pf 401*104 

51% 36% NoStPw 342 60 
37 38 NSPwpf 360 10J 

40* 21% NSPwpf 4.1B 102 
41* 21 NSPwpf. +11 107 
43% 31% NorTcl 00 
4* 2* Nttwatg 


S 44K 42% 43% — % 
51% 51* 51*- * 
JJOOr 25% 34* 35% + 1A 
2200z 40% 40% 40% +1% 


ante 3S% 2816 38% — % 
1441 38* 38* 38% + % 


15 n 3 % 3 %+ V, 


146 30 
40 24 5 
100 84 
875 104 
176 30 17 
34 7 


56% 29% Norms -140 34 14 2142 54% 55% 55*— % 

46 41 NwCP Pi &33 b110 46 46% 46* 46% +2* 

62% 40* Nwrtnd 208 50 11 311 48% 48* 48*— % 

» 19* NwTP at 200 184 29 24 24 2a 

16% 8 NwSiW 58 9* 9* Mb + % 

38* 30% Morion 200 57 12 2060 3S* 34% 35*— * 

29* 21* NOTWSt 100 65 16 1831 28% 27% 27*— % 

50% 20% Now J6* O 15 600 35 34 34%— % 

Nucor JO 3 13 759 45 43% 44* +1 

Nutria J» 117 3* 3% 3* + * 

.. . NYNEX 640 70 9 1851 91% 91% VI* 

5% 1% Ooklnd 543 1% 1% 1% + * 

36 . 24 OoktteP 101 44 13 1 26% 35% 35% — * 

34% 23% OedPet 250 79 10 2422 32 31% 21* + * 


aim jurm 
92 63% 


ao 


l JO 


JO 

244 


38 14 
80 10 
49 
+9 

38 29 
43 9 
3J 

3J 9 


111 80 OccIPpf 300 

108* 80% OcclP pf 4JW +1 
24% 20U OcdP pf 250 104 
31* 17* OcclP Pi 212 99 
22% 18* OccIPpf 130 107 
57 48% OcdP Pt 645 114 

113 105% OcdP pftSOO 1+2 
109 101* Ocd pf 1+62 1X5 

32% '20 DDE CO WO 48 15 


2.9 


29% 14% Knlmor 42 18 16 1057 10 17% 17% + % 

22% 17 Kopotb 80 44 27 707 18* 17% 18 

36% 30* Koprpf 480 108 350Dz 37 37 37 + * 


80 

287*108 


40a 




431 17 
XD6 1S.1 
525 I2J 
1J5 104 


.. — _ 1747 29* » 28*—% 

35 26% Curort 1.10 12 13 1111 34* 34% 24%—* 
2% 1 vtCaekU 73 1* 1% 1% 

36% 27 Coapr 142 +1 17 1365 36% 36 36% + % 

39% 30* Caapl Pf 190 73 181 40* 39% 40* + % 

20* 13* Com-Tr 40 24 7 205 15* 15% 15% + % 

27 IS Coopiris 40 TO 18 1179 

19* 9* Capwtd 44 17 45 

M IV* CP»Upf 248 117 2 

27% 17* Cardura 44 34 17 
IS* 10* Care In 06 44 12 


9JJ 

18 16 
7 

U 57 

n% 40% GA5inl 180 3J 12 13% 45% 45* 45% + * 

13* ID GTFIpf 1J5 94 18450x 13* 12* 13* +1* 

14 155 4 3% ... 

3 25 mi 15% IS* 15* + * 

690 26 25% 25* + * 

+6 1 25* 25* 25* + * 

38 14 3839 31* 31* 31% — * 

34 24 3012 24* 24* 24% — M 


36 2S* 25% + * 

12 * 11 * 11 % + * 

_ 21* 21* 21* + U 

150 26% 25% 25*— % 

252 13 12* 12* + * 


+1 


46* 30% GamG 3 1J8 24 19 1592 48* 47 48* +1* 

48 25* CorDAc 180 2.1 217 48 47% 47* + % 

77% 44* Cox Cm 44 J 23 65 74% 74* 74% + % 

10 4* era* 9 9* 9 9 + % 

30% 32 Crane 180b +3 11 178 37* 37* 37% + % 

92* 41 CrdVRs 19 1102 93% 91% 92 


19% 16* CrcfcNnf 2.18 114 


51% 49* Crckff pf 1 J9o 2J 


UD U 

80 28 J1 
280 U 4 


23* 18% CrmpK 1J0 54 11 
68* 36* CnntCk 15 

64% 27% CrwZai WO 24 16 
H* 43% CrZaiPf +63 9J 
65* 50% CrZol PfC+50 78 
34* 20* Cutaro 
33% 17* Cultaafs 
88* 58* CwrnEn 2JD 
10% 8% Currlnc 1-lOalOO 
38% 30* CurtW UO 24 15 
52* 27% CvdOM 1.18 22 10 
22% 15% Daltai 06 26 * 
15% 9* DamonC JO W 
ff* 21* DanaCp us 48 
9* 5% Donah r 

15 B* Daniel 
23* DartKra 


2V 19* 19 IV* + * 
721 51 58* 50% + * 

90 22* 22* 22* 

263 48 46* 68 +1% 

6805 41* 41* 41* + * 
46 48 47* 47*— * 

7 41* 41% 61* + Ik 
27 35% 34* 34* + * 
2393 27% 27 27* + % 

199 78 68 48%— * 

39 10* 

20 26* 35* 36* + * 
41 49* 48% 49*— * 
121 18* 18* IB*— % 
307 18% 10* 10* + M 
2817 27* 26* 26% + * 


.18b 18 


76 31 DafaGfl 

21% 12* Davca 



t. 

27 OelfdAr 

4* Deltona 

. DIxOlS 

10 DMMll 

D*5a» 

_ _ . .. DeiEd ... 

99 68* DetEpf 500 55 

80 » DetEpf 9J2 111 

67% 48 DofEpf 768 114 

65% 46* DetE pf 745 114 


JM 25 
44 14 
•74 18 
280 93 
748 IW 
737 TIJ 
J» 14 19 ... 
WO 34 X 1422 
1.92 74 10 261 
80 lO I " 


9%— * 

S +5 



7% 3% Ganioa 

28* 13* GdRad .10 
25* 15 oensta 180 
25% 16* Gel Pf 168 
36 26* GenuPf 1.18 

27* IV* GdPae 80 
37% 33% GoPcpf 244 
36 30% GdPCpfC2J4 60 

X 2SU GoPwPt 166a 58 
30* 23% GdPWPf 264 111 
31* 25* GdPwpf 276 123 
23* IT* GdPwpf 106 118 
23% 17 GoPwpf 209 1 14 
26* 21* GdPwpf 273 108 
<8% X GdPwpf 780 116 
67% 52* GdPwpf 7J2 118 
36% 20* G*rbPd 142 3.7 13 
23% 12* GorbSS 
12* 8* GkxttG 

12* 6 GttwFn 
27 17* GlffHIII 

63% 44* Gillette 
14* 11* g lease 
MW 6* Gtofipd 

I* GMOIM .121 
5% GlabMptlJS 
8* GWNua 
1% GWI wt 
12 GhfWF 
24* Gdrkti 
X Goodvr 
... 13% GcrtJnJ 
X* 19 Gould 
44* 38* Gntse 


8 X 37 37 
4 34* 34* 34* + 


.12 6 13 866 


02 


5 

24 21 


34* 24% G remora 
21* 8* GtAFsi 48 
18* 14% GtAtFc 


180 



51* 52 — % 



64% 


245 tie 


■pf 746 114 


27% 

»* 

29* 


20* DEorR X24 118 
19% OEpfO 111 IW 


19* DEpfF 
M< DEpfB 
mi DE PfO 140 IW 


112 11.9 
245 704 


DE pfM 342 111 

33% 24* DEprL 480 124 

34% 24* DE pfK +12 124 

US 98% DEpfJ 1568 136 

108 B6 DE Pfl 1280 124 

97* 72% DetEpf 942 111 

X* 13* DMErt 220 IU 

24 17% Doctor 88 

15* 9% DIGIor 64 


2974 17* 17% 

7 99* 99* 

500z 77* 77* 77*— % 
78501 67* 67* 67* + % 
2500x 65* 65* 65* + H 
49Kb 64% 63*. 64% +1* 
7 25 23 25 

15 27% 27* 27% + * 
X 26* 26* 26% 

X 24* 26* 26* — * 
2 25* 25* 25*— * 
67 28% 28* 28% + * 
10b 28% 27* 28* + * 
12 32* X 32* 

77 33% 33 X* + % 
10115 115 115 

1 103% 103*101%— 1 

lOQz 96 96 96 — 1* 

9 2D* 20 20*— * 

34 II 1036 22% 21% 21*— % 
42 71 15* 15* IS* — M 


68 

.90 


16 
164 104 


2»b 21% Dido pl 2J5 78 . 5 29% 28% 28*— * 

21 15* DkimS 144 108 IB 3185 17* 17* 17% — * 

38% 34* DtaSfl pf +00 108 46 37* 37 37 

59 37 DMfdl 180 24 10 1716 41% 39* 39%— 1% 


54% 27* GffJiln 
21* IS GNIm 
48% 31* GtNNk 
3W4 17% GtWFIn 
19* 12* GMP 
22% GraenT 
18% Grevh _ ... 

37* GneVflpf +75 111 
2% Graltor 12 

9 GrawGs X 24 15 
_ 6% GrubEI 88 8 15 

»* 24 Grunin 180 34 8 
27 24* Grum Pf 180 104 

8* 4% Grantdl .14 24 55 
27% X GuHfrU “ - “ 

42 25* GHWit 

19% II* GullRS 

16* 10 GttSKff 

38 38* GHSUpf+«0 114 

32* 24 GtfSUur 385 128 
35% 27% Glf5U or 440 125 
86 55% GltSU pf 880 104 

]« 12* GAera 83e 44 31 
19* 14 Guttpn 
32* 19% HallFB 
36* 26* Holnfn ... . 

1* % Hairwd 88 58 17 

11% 5% HahxdPf 46 54 

38 25% HamPl 146 34 13 

IS* 11% HanJS 1470)11 

21% 16* Hanji 

30 14% Handl ■ 

M% 15* HantfH 

21* 16% Hanna 

68* 27% Haftkrj 

36% 19% Hormds 

13% 7% Harnbti 

VP* 25 Horn PfB 340 134 
HorapfC2.il 74 


+ 2 

87 28* 28% 28*+ * 
35 30* 30* 30* + * 
27 23% 22% 2216— * 
3 22 % 22 * 22 *— * 
3 25* 25* 25* 

2IOt <7 67 67 

130X 65% 65* 65% —1 

XI 35* 35% 35(6 

866 18% 18* IB* + . 

412 II* 11* 11%— * 

1315 12 11% 11* 

— __ 198 22* 22* 22*— % 

260 +1 12 25M 63* 6Z% 63 +* 

266 13% 13 13 

6 686 14* 13% 13*—% 
827 2% 2 2* + » 

171 6* 6* 6% 

18 17S 12% 12* 12% 

507 2% 2* 2% 

3051 37* 34% X 
2427 31* X — 

2624 28* 28% 

44 16% 16* 

3497 25* 25 
. 570 42% 41* 

14 1719 34 33% 

24 12 1084 21% 20* . 

• 4«3 17% 16% 16*- 
W 15 IS 51* 51* 51* 


>6* 12% Korea r* 

46 32% Kroner 

X 25 Kubota 
X* 7% KuNm a 
69% 30* Kvocer 
23% 14* Knur 

29% 22* LN Ho 

17* 12* LLE Ry 240*154 
4* 1* LLCCp 

12 a LLCpf 
13% 7 LTV 
19 1116 LTVA 

25V. IS* LTV of 
89 41 LTV Pf 

18b. 10* LTV Pf 
17 ID* LQutnf 
29* 16% LadGS 140 72 7 
10% 6% Loforve 39 24 
27% 73 Ultra Pf 244 98 
14* B% Lomuri 3* 28 11 
4* 1% LomSas IX 

14% km Lowtlnt 46 +7 IS 
25(6 T3 t®arPt 40 14 11 
X% XW LearP Pf 287 114 
56* 39% LoarSS 280 IS II 
IM 101 LOOTS pf 225 16 
21 14 LAoRniS 40 13 M 

34* 25% LswvTr UO 44 13 
42% 23% LeeEnf .92 2.1 21 
17% 9 Lea Mas JO 1.1 26 

25* 16* LOOP kit 48 18 10 
4% 2* L envoi 

15% 13* Lehrrm U8el04 
IS* 9* uennor JB U 14 
24% 10% LeucNta 4 

47% 23 LewISt 
50* 42V. LOF 


3J 443 16% 16 16 — % 

280 45 12 1668 45 43% 44%—* 

49e U 35 14 31% 31* 3I%— % 

20 125 24% » 24* + % 

43* 18 16 57 33% 33% 33% + * 


121 20* X X — % 
39x 2** 28% 28% + % 
597 13% 12* 12W 
22 1% 1% I* 

3 9 8% 9 +* 

10008 8* 7* 7* + * 
3 11% 11% 11% + * 
437 17 16* 1C*— * 

IW 43* 42* 43 . .+ * 
278 12 II* 12 + % 

14% 14* 14% — % 
23* 23% 23*— % 
8* 8% 8% 

25 25 25 + % 

9* 9 9* + * 

S* 3% 3% 

12% 12 12 

13* IM 13* 

24* 24* 24* + % 
. 57 56 56% +* 

1 140 MO 18) 

16 17* 17* 17% + % 
146 32% 32 32*—* 

X 4]>A 43 43% + * 

XI 18 17% 17* + * 

47 24% 23* 23*—% 
86 3 2* 3 

500 IS* 15 15* 

104 13% 11% 13* 

55 70 19% VP* 

18S 38 26 1429 48 47* 47% 

142 28 8 48 46* 46* 4C* + * 


31* 24* Oaden 

16 9* ONoEd 

37% »* OfiEdpf +S6 123 
40% 43 OhEOPf 746 125 
32% 2SM OhEdpf 386* 94 
X* 18% OfiEdpf 330 123 
31* Z1 OhEdpr 192 129 
16U IT* OhEdpf WO 114 
71 51 OhEdpf 9.12 128 

68% 47* OhEdpf 164 116 
17% 11% OhMafr 40 34 16 
W 52 OhP PfB 780 11 J 
71* 15% OflFpfG 127 106 
109* 99% OOP PfA1480 124 
111 W* OtlPpfFM.00 128 


1 101 101 101 — * 
5 98* 98* 98% —4 
4 21* 23* 23*— % 
J 21 * 21 % 21 * + U 
1 21 * 21 * 21 % — * 
64 55* SI 55 — * 
103 UN* 101*109% + % 

x iob% in* ram + * 

108 21* 30* 20*— % 


1J0 58 15 1215 31* 30% 31* +1% 

188 118 6 21B9 16 15* 16 

IKK 37 37 X 

34401 62 59 59 —3 

X 32* 32* 32*— * 
» 28% 27* 28* + * 
18 31% 30* 30*— % 
70 16 15% 14 

1MK71 71 71 

51989 68* 67% 68* +) 

51 12 % 12 * 12 * + * 

30GX 67 67 67 —I* 

X 21* 21* 21* + * 

IKttUO 110 110 + * 

1WI11 III 111 


1J% 5* RpGvpi 40 3J 9 

19% 31* RapNY 184 38 I 
27* 31% RNY OlC 3.13 114 
34* 21* Rao&li 184 58 7 
X, 30% R8p0KpflI2 7.1 
MO* 86% RaoBkodUla 78 

24* 1» ftsncot 42 13 

32* 731 Raven 80 34 12 

14* 9* vt Raver 
43* 32* Ftovton 184 .. 

24% 17% Rndmi JO 3.1 14 

17 11% Rearmf 44 XI 1 

32* 21* Reyntni 
X 46* Ravlnpf +10 04 

m*Wt* Ravlnpf 
41* 361k R*vA6f1 180 17 7 

07. 59% RtryMPf +50 58 .. 

a* 25* Rcnvc* 148 +1 II 1010 36* 36% 36* + U. 

2V 17% RhrnriT 180 11 • 22 22% 2Z* 23* — * 

X* 30% RlteAfd JO W 16 1764 26% 39% 26H + * 

79k 3* RvrOk n ID 73 4% 4* 4% + * 

36* 27* Rotunw I.U 34 i 51 34 33* 34 + * 

44* 26 Room 180 S3 IB 14 IV* 30* 31 — U 

W b 12 Rollins 633 19 18% 1S~* + * 

24* 13* RochG 230 85 7 245 34% 24* 24* 

43* 27* RoenTI 244 +2 10 190 41 39* 39*— 1% 

3M* 27* Rockwt 1.12 28 11 36X 40 39* 39^ + % 

71* 48* RotunH 240 34 II IIX 57* 66% 67% + * 

57% 34 Roltrln 10 303 59% SSto 59 +1% 

26* 12* RoinCm 40 1J 36 65 26* 26% 26% — % 

am an RtainE > 87e j m 

12* 6* RdUbta 46 38 18 
4* 2 Ronsan 

19 12* Rouer 

37% 24 Rorv 
13 7* Rowen 

60% 41% ROVID 
17 9 RflYlnt* 

53% 35% Rtitmid 
26 14% RussOr 

» 15* RusToa 

W> 19 RYMH 
29% 19* Ryder* 

26% 12* Rvtond 
20* B* Rvowr 6 

13* II* RymcrpfLi7 94 
5036 35* SCM 280 +1 12 
12* 0* SL tad 42 18 10 
32* 19* 5PST6C 80 ZJ 15 

20 15 ScWne JM J » 

X* 16 5atPlRy 159BT5J 

20* 11* SfddBs 40 14 19 

11% 5* SfwdSc 32 

1* 1* SKrttwl 

X 21* SafKhis 48 1.1 36 
M* 34* Safewv 
35* 24* 3am 

a I6WSU0LP _ _ . .. 

11* 9 SPoul IJ8 114 192 11* UVi II* + 

9Vi 3* vl Satan* 1« 4* 4H 4* 

35% 24* SaliraM .14 J 14 1574 35% 34* M* — % 

28* 18* SDMGi 2J4 8J 9 SS 27* 37* 77*— * 

9% 6% SJuonB JOe 94 11 737 9* V* 9*—* 

51 31 Sondr 46 18 15 32» 36% 34* 34*— 1* 

25* 18% SAnttRI 1.94 7.9 13 X 24% 34* 24*— % 

35* 30* 5Fe5oP W0 38 14 4148 34* 32* 33*— * 

46 28* SaroLae >44 3J 13 1049 46 44* 45*— * 

34* 27* SgNVef 140 +1 16 17 34% 34 34 — to 

II* 14* SOMRE JO 1.1 46 23 18 18 II + % 

22U 15* SevElP 180 74 0 81 71% 21% X* 

12* 9* SavEpf IX 116 4 12% 17* 12* 

9* 4* Savh 281 8% 7% 0* 

13% 9% Savin pf 140 IW 14 12* 12* 12* + % 

28* 18* SCANA 116 7-7 9 768 38* 37%X — * 

34 14 2799 50* 49 50* +1* 

3J 9 9760 37% 36* 37% + 

18 19 
24 14 
II 

38 n 

37 II 
14 

18 10 


84 +3 17 
l.U U U 
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387» 58 

10 

.96 18 10 
13 

J6 +0 9 
180 35 15 


1225 32 29* 31 

365 19% 12 12 

88 2* 2* 2% 

73 15 16* 14* — * 

300 34* 34% 34% 

2510 0* 0 BVk— % 

3616 61* 61% 61* + * 
63 M 13* 14 + % 

MB 54 53* 53* + * 

234 X to 20* 20* + % 
69 19* If 19*— * 

924 m 27% 21% + % 

10 11 5811 30% 29* X +■ * 
86 24 IB 669 27 25* 26* + % 

66 19* 18% 18% — % 
41 12% 12* 12*— * 
629 48% 47* 40% + % 
11 12* 13% 12% — * 
73 32% 32% 32% — % 
19 IS* IS* 15*- % 
101 16* 16* 16% + * 
899 29* X 20 
212 11* II 11* + * 
03 2* 2* 2* + * 

255 38* 37* 37% 

+9 10 37*3 32* 32to 32*— % 
W II 516 27% 27* 27* + * 
78 I I 23 22% 22% — % 


180 

42 

W2 



Growing with the 
solid-state 
control market 


Ametek's U S Gauge, Controls 
and Microelectronics Divisions 
provide measurement and 
control capability that's inte- 
grated from silicon to systems. 

Write for latest reports to. 


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410 Pork Avenue, 21st Floor. 
New York. NY 10022. 



1J4 


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11 

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247 

37 

194 

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19* 

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33* 

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27 

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270 

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111 

22* 

22* 

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49% 33 Srtirpio 188 

49% 34ttr Schlmb U0 

13% 7% SdAtl .12 

33 22% Scoolnd J4 

61% 48% ScotFot 

42* 26* ScottP 

16* 11* 5C9ftV3 

43% X% Scovtll 

45 X* SeoCnt 

13 V* SeoCt pf 146 T14 
M* 12* SaaC PfB 2.10 128 
16* 12* SaaC PfC 2.18 128 
27M> IS* SooLnd 48 12 
Sto 3 to SeoCo 
44* X Skdorm 80 

x% 12% soasm 

29% X StatAIr A0 

32* 71% SaalPw IX 

65V> 43* SearteG 180 - 

39* 39* Sean 1J6 4J 

106* 97 Scarf Pf 982a 93 

X* 19% SecPOCf 1J4 44 7 

19* 11% SotaLt 

39* 26* SvcCps AS 1J 19 

16* 11* ShaUea 32 S3 23 

26* 12% Stiowln 80 24 8 

38% 28% ShclIT 237a +1 7 
30% 17% ShoiGlo 80 IV 6 

32% Id* SMHGpt 1+0 

15W«j 66* ShHGpf 200 

39* M Sfirwbl 32 

8% 4to siiaktwn 

16% 12 Showbt 80 

19* 13* SlarPac 186 

43* 24* Stonai 

63* 49% Stomal 


... 12* 12% 12*— % 

410 32 31* 31*— to 

a 61* 61 61* 

822 42 41 41% + * 

“ 14% 14 14 — % 

41* 4T* 41* 

42 40* 41% + * 

12% 12% 12% 

16* 16% 16* + % 

16* 16% 16* 

22* X% X*— % 
_ 5% 5 5 — % 

W 12 1233 41* 41% 41* + * 

17 94 17% 17 17 — * 

14 16 801 29* 28 2f% + % 

IV 8 85 26 25% 25*— to 


■5 

126 

3 

81 

IX 

1S 83 



79% 60% LQF pf +75 +5 17] 73 73— % 

32% 22% LIMyOp .72 24 16 196 30% 29* 29*— % 

90* 53 Lilly 3J0 38 13 2607 80* 85% 87%—'* 

27* 9* Lhnltds .16 8 31 690 26* 26* 26*—% 

46% 26% UncNtt 184 4.1 11 684 44* 43* 44% +1 

181% 114% LincNpl 380 1J 2 170 175 175 +1 

LhcPI U6a98 IS 23% 23* 23* 
Litton UOf 12 2581 85 84% 84% +1% 

LOridto 85a 1J 10 3817 58 B* 56*—% 

LOCI ilk JO 28 12 157 33% 31% 31%— 1* 

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3X7 54% 52% 


36* 22* Lam Fin 1.16 
28% 16% LamMts 244 
4 2 LomMwl 


JO 8 7 
146 5.1 14 
1-M 58 • 
42 3.1 » 

23 3 

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57% 46 LaiMSpf SL37 104 




160 37% 37% 
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89 2Nh 28% 
727 4% 3% 

IX 26% 25% 
33 50% ” 
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88 11 11 2673 29% “ 

1.72 88 9 66 20 

13 1167 26% _ 

1JO +1 11 2645 XU 28* 29% + % 

IZU 47 47 47 — % 

<21 6 * 6 % 6 * + Vfc 

IX 11 * 11 % 11 % 

166 9% 9% 9% 

668 30* 30* 38% + % 

1 26* 26* 26*— % 

XI 6% 6 6 

28 10 138 26% 86 26% + % 



14% 1IV6 POCAS 
20% 12% POCGE 
40% 30* POCLlB 

2V x* PcLum _ .. 

10 5* PacRm Ur A 73 

19% 12% PacRspf 280 108 

17% 12% PacScf 48 U 13 

82% 36* PacTcte 5.72 78 18 

13 9% PocTTn 40 U 10 

31% 22 PacffCP 132 74 9 

23% » Pacupf 487 112 

43% X PatalNb 80 ~ 

34% 26% PalnWpf 2J5 

» 27 PalmBc I JO 

34% 20% PanABk JO 11 18 

7% 4 PanAm 
3* l* PanAwf 
X 13% PandcKn JO 

41% 31 PanhEC 230 

7% 3to Plait Pr 
19* 13* Poprcft 
18* 9% Panfyn 
21% 11% Parted 
8* 4* ParltDrt 
39% 25% PortcH 
19* 14 ParfcPn 
2% 1% Pol Phi 
17% 11% PayNP 
23* 13% Pavcm 
ID* 6% Poabdv 
1* n Pkfsa 
58* 4» Pancon 
-55* 44* Pknnay 

27* *1% PnPL 

4Mk 20% PaPL pf 440 IW 
40% 30 PaPLpf 448 114 
78% 57* PaPLpf 880 118 
29% 23% PaPLdPf342 IW 
27% 20% POPLOtoflN IU 


144 108 2 M% 14% 14% + % 

184 9J 8 X56 19* 19* 19*— % 

132 78 14 651 44% 43* 44% — % 

1 JO +3 17 1494 26 77* 21 +* 

53 8* 0% 0*— to 

32 18* 18 18% + V, 

8Z 17* 16* 10*— % 

737 82% 81* 82 + to 

2 12 12 12 

X68 X* X X%— Hi 

_ 82 33% 32* 33% + * 

18 SB 2960 36% 35* 36% + * 

78 852 32% X to 32% +1% 

2415 73 25 34* 35 + % 

111 33* 33% 33* + * 
4009 7% 7* 7* 

3®J 3* 3% M6 

315 17* 17* 17*— to 
434 35* 35* 35*— to. 
6585 7% 7 7%+* 


320 8.1 


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13 12 2152 40% 39* 39* + to 


80 38 11 
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333 14* 14* 14*— * 
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20% 37* 97* 37* + U 
14 32 31* 32 + % 

21 35* 35* 35% 

T320z BS 84% 05 + % I 

52 18* 18* 10*— %J 
57 16* 16* 16*— * I 
757 X* X* 31% — *1 


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23% 16% LuckyS 
16 ID* Lufeam 
23% IS* MACOM 
69% 38% MCA 
2ffk 17* MCorp 140 
39% 34 MCorpf 150 
7* MDC 
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1-7 23 a 36 35* 15%— to 


14* 


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256 68 


1J» 64 10 2173 28* 27% 28 — * 


125* 77% Dtoltat 
95 49% Olvtor 

15 DEIS 
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6* Dame a 
23 DomRs 
Donald 
Donley 


a% 

6% 
II* 
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21% 16 
61* 38 


1 JO 


180 

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31% 23% Dorsey 
42% 32% Davor 
36* 25* DowOl 
51* 36% DowJn 
14* ll Drava 
22* 15% Dresr 
21% 14* DrexB 
63* 25* Drevfirl 
61% 43% duPant . .. 

« 31 duPnlpt 340 

SO 39% duPnlpt 440 
35* 23* OubaP - ■" ... 
X 64% Duke Pl +70 103 
00% 61 Duke of BJD 104 
5* 57 Duke of 788 104 
27 21* Oukepf 289 100 

X 28% Duka pf 383 lljQ 


12 Ban ioi* 99* iso* + * 

1J 59 1164 90% 89% 89% + * 
7 2630 28% 26* 77 —1% 
3 148 5% 5% 5% 

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173 ll 18 4080 34 33* 33* — % 

,86 34 9 1183 18* 10* 18* + to 

1.16 10 16 1409 58% 57* SB + % 

13 UH 291 12% 31* 32% 

82 11 14 673 40 39% 39* 

+9 13 4796 36% »% 36* 

W 23 1500 46% 45* 46% + * 

40 38 3067 13* 13* 13* + to 

80 38 16 1434 22% 22 22% + % 

99 73 20% 29% 20% — * 

.9 16 4* MV. 64 64% + * 

ll 13 2862 99% 57* 59 +1 

94 11 37* 37 X —I 

94 23 48 47* 47* + % 

+9 9 3092 35* 35* 35*—% 
374108 85 84* 84% + % 

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Mz 75 75 75 +1% 

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30* 30*— to 


Get now More Gold 
for Your Money. 


Krugerrand gold bullion coins 
combine the age-old security of 
gold with instant liquidity. Because 
they are legal render they are 
traded 24 hours amund the globe 
at an advantageously low premium. 

Gold gives you the .security. 
The Krugerrand gives you now 
more gold for your money. 

Ask your bank or broker. 


Or write for a free copy of the 
European Gold Guide to: 


International Gold Corporation 

Coin Division 

I, rue de la Rdtisserie 

CH - 1204 Geneva 

Switzerland 


ISO 



KRUGERRAND 

Money you can trust 


Please note mat Internal i.itul iJ«w Corporation 

don nut piovide 4 buiing><r wiling vwirr 


J 1 


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36% 25 PWIE Pf +40 128 
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26* 20% McDrpf 280 108 625*25*25* + % 

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5J 

IB 

331 

18% 

18% 

10% + % 

■ 23ft 

15% UriLeof 

IN 

4.4 

1 

M3 

23 

a* 

22% + ft 

240 

89 


0 

35 

34* 

35 + % 

S3 

26% Unocal 

IN 

4A 

7 

5003 

a 


T»% — * 

192 


X 

n 

15* 

16% 

15% 

122% 

45 UWcftn 

ua 

JJ 

22 

3230 116*115% 116*— % 

39 

16 

I0JI 

46* 

64% 

44 ft— * 

43 

21* U5LIFE 

194 

14 


$80 


t r l 

J9*+ % 

-36 

9 

17 

448 

40ft 

»Hb 

40 + * 

34% 


99 


3 

39* 


f m 1 1 


36* 34% TECQ 
12* 7* TGIP 


J6c J 
286 68 10 
16 

68 ID 
19 17 
38 11 
11 


\3 

3J» 


104 W* 14* 14* + * 
757 44* 43% 44* +1* 
2 88 87 88 + % 

803 10* 10* 10*— to 
256 14* 14* 14* + * 
209 W* 10 10% + * 

100 10% 10 U — to 

28 24% 22% 24 +1% 

686 15 14* 14*— * 

32* 32*— to 
11* 17% + % 
X 20 19* 20 — % 

m 22 % 22 22 — to 

958 21* Xto X% + to 

80x302 102 102 

9 24 , 23* 24 — to 
25 34* 33* 33* + * 
18 34* 33* 33* + * 
158 38% 35 3S% — 1 

402 34 33* 33* 

S40z 46 45% 46 + * 

86 25 24* 24* 

. 324 40 3V* 40 

- IS 1*513 2Wb 19* 38 + * 
J 20 307 31* X* X* + % 


X* 11% TNP 
25* 17% TRE 

01% 62M TRW 

150 116% TRWpr 480 
7* 1% TocSaat 
70 52% TaftBrd 1.12 18 15 

19* 12% Tat ley .Wk 8 14 
X* 15 Taller Pf WO +8 

81 50 Tainted 120 - 

36 23* Tandy 

is* 12* Tndvdt 
60% Xto Tefctnw WO 

5% 3% Tktcam 
302*225* Tkhtvn 
24 ia% Tklreta 37 
48% 24* Telex 


+< 15 


217 3616 36 36 —to 

508 36% 36% 36* + to 
461 TO* 18* 10% - % 
45 X% X X — * 
153 25% 25* 25%— % 
666 70% 77* 78 + * 

11 M3 143 143 
540 2% 2* 2* + % 

390 79% 77* 7BW + % 

\71 18* 18* 18% 

21 X 2X6 20* 

123 79 78* 79 


+ * 
+ * 


109b 8% UsttoFd W4a 98 
26* 20* UfaPL 132 08 14 
27* 21* UfPLpf 280 108 
201k 21* UIPLpI 280 1DJ 
20 15* UfPLpf 204 113 

26* 15* UIIIICo U2b +9 8 
24* 18* U lb Co or 161 119 
35% 29% irtllCOPf+12 11 J 

41 21* VFCorp 1.12 2J II 1671 41 40% 40*— % 

14* 5* Valero 3J14 14* 13* 14% — Ik 


33 10* 10* 10*— to 
427 26* 26% 26% 

24 27 36* 27 

62 27* 27% 27%— ft 
18 19* 19* 19* + to 
37 27 26* V + to 

20 24% 24 24 

6 35V. 33% 35% + * 


15 4945 32% 31% 31* + * 
14 43 13* 15% 15%—* 

U 15 1541 63% 64% 65 + * 
6 19 3% J% 3»- to 

ID 487 261 254* 257*— 2% 

U 26 352 19 18* IS* + * 


92 38 7 


48% 2«4 Tetax 12 3045 42* 41* 42% +1% 11* 

“to 25* Tempi a 84 18 10 632 39* 38* 39% + * I X* 


OT* Tennca 282 78 12 1753 41* 41% 41% + to 


.9 14 
10 36 
28 13 
225 

UOalOJ 

18 X 


A0 

80 


WJ4% 90% Tencpr 1188 WJ 
35V+ 20 Terdyn 
15% 9* Tesora 

40% Xto Texaco 
38* X% TxABc 
46* X* TexCm 
39 26% Tex Esf 


80 3J 
3JM 12 
182 +6 
186 58 
220 ' 


TxET pf 6J9C118 


2 103* 1(0* 102* 

11 2794 m b 23% 23* + * 
151 10* IO* 10*— % 
35 *772 3M- 36* +1 

9 22 32* 32* 32* 

6 IBM X* 36* 31%—* 

* 749 33 32* 32% — % 

1 57. 57 57 — % 


184 

U0 

3J0 

WO 

80 


82k .1 17 
86 34 


— 17% HuoMP 
341% 21to Human 


X* 19% HurrtMf 


80 


J 27 
19 IS 


14* 6* Em Rod J4t 84 13 466 11% 10* llto 

20% 11* EmrvA JO 17 13 2663 18* 10* 18* + % 

32* 24% E m hart 180b +2 ll 246 Xto 32* 31 + % 

22% 15* EmpPtf 121 76 B 48 27%22%22% + to 
“ “ 87 94 200ZS5 5+U 

SO 98 lOfiOz 5* 4* 5* + % 

.91 IU 10Oz BU Bto 0* + * 

— - }U to + 

91 18 10 1401 28% 27% 27* + * 

■56 14 14 8£ 39H Vh 39% + to 


5 3* E (no pf 

5% 4 Emppt 
9% 7 Efflppf 

% EnExc 
32* 23* EnstCp 
39* 18% EntsSu 
20 Vto EntaSwl 
299k 17% Emerch UO 65 17 
102* 91* EmehoniJOklW 
21* 17* EroE8n JOk 13 
2* 1* Ensrce 22 

13* Vto Eirtera 
20 15* EntxE n 2J0el+6 

X* 16 Eifoxln 1J0 U 11 
IS 17* Eautxs 1.14 33 19 
6% 3% EquUM 
20% 11% EqmkPf Ml 110 
50% 20% EqIRa 1 J2 34 
17 9% Eaulfcn 

14* 9% ErtHTHlt 
24% 12* ESsBin 
28* IB* EJSuC 
31* 15* Ej trine 
2SV-. 10* Ethyls 
6% 1* wIEVkrtP 

9% 2* vIEvan pf 


I.7B 

180 


43 

17% . 

54% 38 


_ 19* 19* 19* 

838 24* 24% J4* + to . 
U 102% 101% 101%— * 
6S0 18%- 17* 18% + % 
433 3* 2 2 —to 

205 13* 11* 11* + * 

03 17* 17% 17%— % 

g 20 19* 19*— to 

92 34* 34* 34ft — % 

2104 3* 3% 3* + Vk 

26 19* 19% |9% — * 

4K 48* 47% 40 — * 
131 16* 16* 16% + % 

233 12* 12* 12*— to . 

254 34% 23% IJ*— %' 

47 27* 27% 27* + to 
194 30 19% 19* + % 

3J 13 1X4 25to 21* 34*—* 
104 2 1* * 

53 2% 3to 


J 11 
JO 24 16 
84 18 15 
80b 19 14 
.72 U 12 
J6 


|% + % 
42* — to 


Ex Cota 1J2 +0 11 489 <3 42% . 

3* F.cobir 1860118 20 17 16% 16* 

Exxon 140 68 0 6489 S2* S3* 52* + * 


U W FH Ind .I5e 18 3 

70 50% FMC 120 13 41 

06% 63% FMC PI 2JS 17 
27% 18% FPL Gp W6 7.1 9 

J35 S5 ■» u 24 

1** 9* Facet 7 

22 13% Foiraid JO U 
39* 33* FalrcM UO 9J 


3 ID 9* 10 

965 67* 67* 47% + to] 

4 04 SW 14 + % 

933 27* 27% 27* 

9 10* 10% W* 

62 13% 13% 13% 

223 16* 16* 16*— % 

33 37* 37* 37Vh + ft 1 


61* 23* HuttE 
31* It* Hydro! 

K* 23* 1C Iml 
19* IS* I CM n 
i!H 6* ICN 
22% ICN Pf 
18% 14* INAln 
37% 23 IPTIm n 
30% 16* IRTPr 
36* 21* ITT CD .... 

63% 44 ITT pfK +00 _ 
41% 45 ITT PfO 580 04 
68 46* ITT pfl +50 7J 

31% » lUInt 80+6 
24% 16% idahaPiUZ 7.1 9 
19* ll idealB 
77VI 17* iiipbwt 284 108 7 
X 14* HPowpf 110 114 
20* 14% IIPow pf 1)3 ms 
W* HPowpf 170 116 
53 W6 HPowpf 180k 11 
S3* 48* IIPow pf 5J5 104 
*5 37 UPowirt +53ell6 

37% 25* HPowpf <80 118 
36% 22% ITW J2 2J 13 
40* 27* inuChm ZjdSe 53 
12 5% ImpfCp 

14* 8* IN CO 3D 14 
10 49% liMIMpf 7.76 118 

19* 14* indIMpf 115 118 
» l«b indWlpf 125 114 
30to 23* IndIMpf 383 HI 
»B lift IndtGll 180 7J 
10* 4* fnaxcD 871 
26* 13* Infmfc 
X* 35% Inner R 160 
37* 20 InoRpf 2J5 &8 
15% ll lirarTee S* 17 27 
25* 19* InlOSH JO 28 
48* 38* IMdBIpf +75 108 
21* 14% InsllCO WOb SL1 11 
79* .3* InapRs 
26% 11* Into Use 
26 19 IntaRof 383 H4 

H* C intpR pf 4J3.1+0 
35* 2514 IntDR pl US IU 
13* 7* InfRFn 


. _ 42* 42% 42* + to 

585 14* 14* 14% + % 

1443 38% 38 38* + * 

W 00 79% BO +* 

1140 29% 39 29% + * 

69 MU 10 10* + % 

10 14* 16* 16*— * 

40 26* 26M 26%—* 

130 10* IBM 10* 

3097 12* 12* 12*— * , 

n - , » 23* 23* 23* + * 

88 38 16 »7S» 35 34% 34* 

JO 1.7 10 . 25 3M 29* 29*—* 


l-76o 13 
840114 


48% 35% MefViN 
JD 50 Merest 
116to re% Merck 
p. 4J% Merdtti 
36* 22 MertLVn 
3% 2 MesPOf 

22 12% Mesa Pf 

34 20* MesoR 

7* 5% Moaob 

2% Mesl ok 

22% MiE PK 380 118 
63% 46% MIC pfF 112 128 
61% 45% MIE pfG 780 118 
67% 49 MIEPfJ 8J2 12 S 
64* 45% M1E Pfl 8.12 128 
.jf* 2 Me* F« JlalU 
18 12* McfigR 140 73 11 

7* 4% Mlcktbv 86 IJ 27 
55% 34* Mldoon 2J6 JJ 8 
15to 10* MMSUt 1J0 118 5 
OT. 15* MIdRM 180 58 


«* 50* ProcTG 240 +4 14 9655 51% 5B 58% + * 

|W ™ PrtFWt J2 13 22 531 IS* 17% 17*.— 1% 

47* 32* Prater 140 34 12 X 41 40* 48*— % 

24* 17 PSvCal 100 88 9 453 22* 22% 22*— M 

21* 16* PSColPf 110 99 14 21% XU X% + % 

If* 6* PBWd 180 IM 10 1522 10% 9* 18 


80 24 9 3406 33* 33% 31* + ft 
280 68 9 118 29% 29% 29% + % 


144 4J 13 3445 34* 39* 34* + % 

w „ ?J3 16* 16* 16*- to 

__ 73 350 10% ID* 10* + * 

?4 7 » 28* 20* 

UgllA « llto 17* IB* + * 

■77e 2J 50 26% Sto 2»*— % 

04 7 14 20* 19* 20* + % 

3J W 6136 32Yh 31* 3I%— % 
X 60% 60% 60* + * 
X 59% 59% 59* — * 
1 62* 62* 62*- ._ 
M 13* 13 13 — * 

446 24* 24% 24% 

116 II 12* 13 + % 
405 26% 26* 26% — * 
1*$lz 20% 20% 20% +1* 
SBfcWjk 20* 20% + * 
JTO0Z 35% 33* 35% +1* 
150 52* 52% 52* + * 
. 6 54 54 54 +2 

250 41* *1* 4 »k — * 
1 36* 36* 36* 

J76 Hto 32 32* + * 

9 4452 39% 39* 39* + % 
9 517 11* 11* 11* 

5239 14* 19* 14% + * 
300l 67 47 67 

7 IB* 18* If*— * 

7 20 19* 19*- ft 

s re re 3o + * 
7 45 26* 25* 26% 

145 5* 5% 5* + to 
1133 Uto 26* 26% + * 
58 17 1220 53% 51* 5l%- to 
3 35% 35% 35% 

36 14* 14* 14*— % 
XI 24* 14% 34* + * 
73 44* 44* 44* + * 
«4 If* 19* 19* + * 
207 5* Sto 5* + * 
414 20* 19% 20* +1U. 
350 26% 36 26% 

1 46% 46% 46% + % 
1“ 31* 33 23* + % 

204 14% 13% 13*— % 


. 2% 22* MWE 
15* 11* MlltnR 

73* MMM 
. . . 25V. MlnPL 
15* 0 Mlsnlns 
8 4 MHM 

34* 23% Mobil 
3* Vk vlMoblH 
9* S* ModCpt 
33* 16* Mohose 
15 2 MoftkDt 

51% 28* MonCa 
19% 14* MOflKfl 


176 


2J0 


185) 


1305 14* 14% 14* 

3 33* 33* 33* — to 
122 6* 6% 6% 

10 3* 3* 3* 

20ta 33 33 33 +1% 

« 63% 63% +1* 

lOOx 61 61 61 — to 

OBZ 66% 65 66% — * 

4001 61% 63% 63% + % 
338 2% 2 2 

54 »* 17% 18* + * 

129 S% 5% 5% + to 

340 46 45% 45* + % 

4649 15% 14* IS + ft 
. 334 18 17* 17*— % 

17 12 . 282 32% 31% 11*- * 
3J 15 349 12% 12 12% + * 

4J 13 7457 00% 79% B0% +1 
7.1 9 49 39 38* 38* 

2B 6* 6 6* + * 

S« 7% 4* 7% + <A 

w 

10 124 7 6* A* + to 

U 12 14? 30 39* X + * 

.867 2* 2* 2* 

12 410 54* 51W 52* +1* 


7-15 1X7 


9*44 
138 1+2 
886 1+1 


IS* 

16 

23 

20* 

16% 

17* 


39% 


80 +8 34 84 16% 


|U|| i£yu x rate 

40* Mansan 2JD 58 ll 5284 58* 49* 49* 

]6* ManFw 280 78 It 665 28* 28% 20*— to 


6 PSInpf 
flto PSinpf 
. 37 PSinpf 

60% 51 PSinpf 

56% 43% PSl/1 P4 
62% 47% PSinpf 
7* 3% PSvNH 
6to PSNHpf 
7to PNHPTB 
10% PNHpfC 
9 PNHpfC 
7* PNHpfF 
7* PNH PfG 
29* 19% PSvNM 280 99 
32% X* PSveG 284 08 
IS 10% PSEGpr 180 M8 
39 28 PSEGpf+08 118 

» 20* PSEGpf +18 11 J 

40% X PSEGpf +30 IU 
W7to 92 PSEGoni82 118 
«% Wi PSEGpf +88 11.1 
23 17 PSEC pf 143 107 

35 PSBGP9 780 10L0 
55 PSEGpf U0 UJ 
51% P5EGPI 7J3 108 
67 PSEGpf 9.63 11 J 
2* Pvbticfc 
Vto Pukbta .14 M 
6 PR Cam 


72 

73 
69 
88 

4% 

14* 

V* 


16* lOto PusetP 1J6 107 


207Hz 9 Bto •%— to 

1990z 8* 8* 0* + * 

400( 50 49* 50 +1* 

100( 69 69 69 +M 

220(59 58 59 +2to 

10710* 63% 62 63% +2 

2 »S_ 7% 6ft 6ft— to 
931114% 14 14% 

30 IS* 15* 15* 

38 22* X* 23* + * 
26 2016 20% 30U 
12 17* Ifflk IT* +Ito 
^ B4 18% 17* 171k + to 
9 4850 29% 29% 29% 

0 3657 32* 31* 31ft— to 

5 U U 14 + to 

6faJ8 37 27 _ 

40K 38 37to 3716— 36 
590( 38% .36* 36* + * 
KM IM 106 +1* 

180* 61* 61* 61* + % , 

6 22 * 22 * 22 *— * 

63* 73% 72 72 

200(72 72 72 — to 

Ml 69 66% 69 

90DZ86* 06 M 

„ . 4 * 2 * . 2 * 2 *- ft 

2 048 15 W* 14* 

S 37 6* 4% Sto 
497 IS* 16* 16% + 1% 


57to 52 _ . 

,34% re Taxi nd JOB U 14 294 20* 27% 28* + * 

M 3? H* 2* *80 28 10 3700 101% 99* 99* + Ik 

3* 1 Texlfit 2457 3to 2* 3 — to 

Sffi 125. KS2S* -2 M m p im um + h 

36ft 3M TxPac AO IJ 19 43 X 30 30 — lto 

31* 21* TkxUtll 352 Ll 7 — ~ " ■ 

2 Texfl In 

99* 27 _ Textron 180 ll 14 

65 29* Textrpf 280 3J 

n 24* Textrpf 140 27 

Ml* -Oto Thack 100 

OT 2316 TRackpf +15 1+0 

SOW 14* TltermE 75 

«to 2K6 TrnnBet US 38 IS 

18* 12* Thom In so b 38 Ml 

24* Uto TtimMed A0 25 II 

22* 14to Thrfffy 60 ZB M 

24% 13* Tldwtr 80 62 

W% 5* Tloerln 

40* 33* Time 

OT 12* Tknpbr .. 

5B% 34% TJmeM US 14 17 X77 56% 56 S6to + * 

** 1800 38 IS 49* «* 49ft +1* 

re* ^ Ssf vS K y *17 1* IWk iS + “ 

Vf* ?Wk I«B*1P 1J3 +1 7 194 X 31% 32 + to 

M 16 11 134 1®* 10% 18* + H 

6 1133 Xto 30ft X 

36 29% 38* 29 


80 U 


X90 31% 30* X —to 
33 » 3* 3* 

CM 59 51% 51* + to i 

3 64% 63* 64% + to 

7 32 92 92 +1» 

« 10% 9* Ml + to 

I O' * 28 + to 

JM. »* 28* 28*— * 
838 38* 34* 38 +1* 

79 IB* 18* 18* + * 

193 16% 15* If* — to . 

<96 22 21* 21* 

409 1«% 14 U% + ft 

... T069 7% 7 7% 1 

!Z *22 *** Sn * SK * +* 

17 238 19% 10% 10* + * , 


re 14 Voter pf 144 1+0 
4% 2V. Votevln 

OT 19 VanOrn 
3* 2V« Varco 
46% 26* Vartan 
13* 9% Varo 
25* 17* VPkCD 
12 3* Venda 

. . v Veatse 
X* 28 Viacom ._ 

47 36% VoEPpf 580 105 

91* tn VoEPpI 995 1DJ 
68 51 VaEP pf 7 JO 117 

27* 11* Vlshay* 18 

45% 58% Vomad 12 

82* 61* VulenM 380 14 12 
X% 23* WICOR 330 74 I 
49 JBk WabR pf +90 IM 
23% VVoctlYS 180 28 10 
28to 16% VfQCMd ' 

10* Sto Mtatnoc 
56* 37to WalMrt JS 
30to 17U WWarns A* 

24* 15* WkHRsal+8 
38% 26% WalCSv AS 
39U 22 WaifJm 180 
3S* T7* Women 88 
32* 17 wrnOn 
45to 30* WOmrL 188 
re% ink WttMGs IM 73 
2Bto 15* WkfiNat LOB +2 _ 

24to 16* Vteiw t 240 10J 0 
t6 31* Waste ,92 14 22 
28* 30to WatkJn J8 14 11 

12* n wayow jo io io 
26 19% WayGpf ISO 78 

32% «to WeanU 
ZHb 13% WeftoD JOB .9 16 
** 30 WpUMk 93 19 16 
62* Xto WeltBF 240 35 I 
4 ** 41 IMF pf +87o 9.9 
29to 23% WklFM 280 9.9 11 
W% 12 wendyo Jl 1.1 19 3874 
27U Uto WastCo A* 18 14 60 


48 24* 74% 24% + 16 
26 2* 2* 2* + % 
82 24to 23* 24ft + ft 
244 S'A 3 3to + * 
997 X 30% ]0% 

107 13* 13% 13% 

323 20to 19* 19*—* 
146 11* llto 1116— to 
267 11* 11* 11* + ft 
788 48* 48 48* + IT 

20( 46 46 46 

30( 89% 89% B*% 

580r 67 86* 67 +1% 

63 Uto »* 96% + * 
6 43% 43% 43* - % 
X 83 83 OT— to 

32 X% 31* Jl* — to 


100z 43% 43% 43% +lft 
343 36* 35* ' 


53 22* 22% 52%-* 

« n m n • 

■5 26 27S3 S3* X* 52 + ft 

W IB 2408 27% 26ft 27ft 

166 25% 24* 25ft + * 

1.1 19 142 39* 38 39* +N* 

18 8 702 37 36* 34* + to 

16 13 942 25 24* 24* + * 

1710 X* 30% 31 — « 

U IS 4023 44% 44* 44* + ft 

9 S* 23 22* 22* . 

8 165 26% 35* 25* — * 
254 24% 24% 24%— ft 

1793 66* 65 65* 

625 25* 24to 25% + to 

26 10 9* 9% + ft 

1 21 3 21 +fc 

180 6% 5% -*% +*' 

74 22* 22* Z2%— % 

32 44* 44*. 44*— % 

834 62 61* 61* _ 

215 49* 4% 49to + % 

127 20* a 2fto— * 

10% 17* 10ft * * 

25 24* 24*—* 


01 30 29% Sto 


12 77* 27% 27* + % 


1800 M 
81 98 It 

-72 3-3 15 
184 +1 14 


19% 15 NtanSI 
I Oto 6* MONY 
X* 12% Moores 

U«i IB* MoorM 

X 24 MorMpf ISO BJ 

54% Sto MorSflS 2J0 +2 _ 

63to 26* MorlUld MB 16 10 

24 18% MorseS 80 3+ 14 

W W MlbRty UteU 11 

B% Morton s 84 U 10 1009 36 37% 37* + * 
44% 49% MOtarta 84 18 151X07 35* 3S% 35% + to 
J42J1J 49 24* 34 24— to 


99 19ft 19ft 19* — ft 
137 10 9* 9*- to I 

61 31ft X* 21* + ft 
249 25ft 25% 25% — % 

5 Mto 30to 3BU. 

3611 53% 51* 53 — ft , 
65 41ft 41% 41% — ft 
51 23to 23* Sto 
144 20ft S »% 


2* 25 E 0 ™.' 71 “ 1* >»% 17* 10% + * 

12 22% Puratol IS 5837 279 23ft 23% 23% + % 

Sto Pyra 8 321 0* 8% S%— % 

S% OuakOs IS 28 U X58 5Zft 51% 52 + ft 

Jnk Quamx 23 1021 f M4 gu a ll 

- S!fS2?. r ^ M 10 3,81 si* w — ft 

QfcRefl J4a J 16 453 25% 24ft 25% + % 

«% RBInd JM j 19 


180 38 U 
.80 JJ ll 


26* 19% Mwrfrtt 
Uto 7% Mumdi 
33to 23% MurvO 
23to Isto MurryO __ 
14* llto MutOm 184 108 

lflft 1% MyerL 
Xto 16* NAFCO IN JJ 10 
36* OT HDDS M8 38 7 
Xto lift NBI 
22% 17% NCH 
44% Mft NCNB 
3X6 20* NCR 
14to 9% NL Ind 
36* 27 NUI 
1ft % NVF 
55ft 13% NWA 


40 14ft 14 M* + % 

565 30% 27% OT + % 

S 19 10ft 19 

122 14ft 18% 14ft— * 

IS 2* 3ft 7* 

27 19to 18* IVto + ft 
334 36ft 35* 36ft + * 
13 1315 20ft 19ft 19* 

55 H .2 *?* 21* + % 

1JB 38 10 122 44% 44 44% 

88 16 10 7934 9* 33* 33% + % 
M I? to 11 11% 

2J3 68 9 — • ‘ 


10ft 
S3 

23ft IS 
10% 

34ft . 

25ft 14 
9* 

OT 2916 RCA 
40 Sft RCA pf 
>« X RCA pf 
Mft- OT RCA of 
37* 30* RCA pf 
9* tfto RLC 
J* 3 RPC 
19to 12to RTE 
14 T RadlGO 


184 2J 13 3411 Xft +Sto Wk— % 


150 


9.1 
33 
2.12 +2 
385 99 
JO 17 11 


38 IQ 

10 


4S2 OT 38% 38% — to 
» 107% 107 107 
136 34% 33ft 34% — ft 
9 37ft 37% 37% — ft 
IS? 7ft 7to 7* 

492 4 3* 4 


4M Iffh XE fi 


Xto 14* Takhms ... _ 

SS TolfMa* 2J2 120 

Mto 22 TrtEdpf 173 TIB 
OT 31 TotEd pf 3A7 J2A 
S% 25% TatEdpf +2B 128 
20ft U TbIEdpf 2J6 118 
Wk 13* To) Ed of IX 118 
2Mb 6ft Tonkas 
ot re* Toarmn Aab 1 8 is 

,5* ’ Jo 2* w 

IS 93% Trahpf ll.lSolOJ 
17% 10 YoraCe A0 28 10 
5 1 T080B 

I Oto Bto Towta 
41% 25% TOYRUs 28 

Wto 17% Trace* J2 L4 

& 8* TWA BS MSB 

15ft 12 TWA pf 125 1+6 aS 

33ft 18 TWA pfB 2.25 78 
OT Sft Tramm 1 _m SJ 13 
Xft 16ft Tran Inc 2J2 10J 

SS JS WO 7 S 47 

X% lWb TrnCdknU2 14 9 

5X4. 45% Trwnco 2.16b +5 10 

66% SOU Tmscpf 387 6J 
OT 19% Tran Ex 288 IU . 

J*% 7ft TroNai 5 

25% 20 TrGP Of 150 1(U 
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D ebt Load 
Troubles 
Koreans, 
Not Banks 

By Paul Ensor 

SEOUL-— South Korea is Asia's 
biggest borrower and the world’s 
fourth largest, after Brazil- Mestico 
and Argentina, hn> nnfflw the Tjufri 


■ Economic miracle suffers a 
brush with reality. . Page 10. 

Americans, it has not lost the cmB- 
dence of its creditors. With borrow- 
ing down in Asia as a whole, for- 
eign banks are jostling wch other 
to squeeze into syndicated loans to 
major South Korean borrowers. 

Loans to South Korea offer a 
relatively high return, and foreign 
bankers, alcmgwhh their counter- 
parts in organizations gue-h as the 
World Bank and the International 
Monetary Fund, are pleased with 
the way the country’s economy is 
being managed. The main criticism 
of the heavy debt burden has come 1 
from within, from. opposition poli- 
ticians the press. 

According to government fig- 
ures, South Korea's total outstand- 
ing debts stood at $43.1 billion at 
the end of last year, a net increase 
of $3 billion over 1983. D|ue to a 
largcr-than-espected trade deficit, 
borrowings were around $400 mil- 
lion more than planned. 

Projections announced by Fi- 
nance Monster Kim Mahn Je at tbe 
be ginning of this year state that 
total debts will not be allowed to 
rise by more than $2 bflban, to 
$45.1 billion, by tbe end of 1985. 
But once again, due to over-opti- 
mistic projections regarding die 
balanced payments, the actual fig- 
ure will probably be higher. Re- 
cently released figures mow that 
external debts rose to $44.3 billian 
as of the end of April 

What makes South Korea so dif- 
ferent from the big Latin American 

borrowers? As one American bank- 
(Continnedon Next Rage) 


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Chun’s Agenda 
For Transition 
Poses Challenge 


Export BoomMuMpties Trade Conflicts With U.S. 


By Lawrence R. Krause < ^ 

WASHINGTON —Sooth Korea's, muaculpua cajnomic 
growth is propeffing it along tbe path of indostrial caidHqx 
twice as fast as Japan, the wddtFs ptsmms recOrdh^der in 
the evenLiThis has been made nwafate^ a aowsmnent 
strategy adopted in the eariy I960* of brientmg t&economy 
outward toward world mantWs. ' • i-.- 

Thus, South Korea has become dbwfy hrifced ib and 
dependent upon the world economy, particularly Ac United 
States, with Japan in second place. South Korean products 

ing productennported from Japan. some 

success has been al the expense of U5. dornestic prodccers 
and bas led to trade tensions with SomhOKocea, whkh have 
risen along with the recent escalation of ;protccti o nia pres- 
sures in tbe United States. 

South Korea's total exports grew at an ammal rate of 13,7 
percent per year from 1980 to 1984, bin .its exports to the 
United States grew 22.7 percent annually during this period. 
Hence, South Korea's dqsendence on thc llS. market rose 
from 26.4 percent to 368 percent Since Sooth Korea’s 
-merchandise exports now amounts to 35 pdeent of its gross, 
national product it is dear tow important ihis nade is: 

On the other hand, Americm exports TO South Korea huve 
only been expanding by 63 percent anuoally dming the last 
fonr years, but this contrasts sha^ly with the ovei^sta&iar- 
tkm of U.S eaqrals. Thus, the share of Ui emoiikgping to 
South Korea rose from 2.1 percoitin 1980 to 2.7 percent in 
1984. Nevertheless, die United Slates snffeted a bflateral 
trade deficit of $42 KEon with South Korea in 1984. 

South Korean shoes and textiles have tong had an eager 
market in the United States, ranking second and .thud, 
respectively, .among foreign snpplj£r% ^owewe^ jatfcrea* 


you£ South Korean consumer electronic products have 

mn ^ncmgty pf^tra It’d ibftTTS. mnrlcet.<n ihw ^ hg telwitainn 

bran^hames Samsung and Goldstar are joining Sony and 
Sharp in American homes. .7 

This.year, South Korean-made video tape recorders have 
hegnri to fi^ht the. Japanese for the luamiye American 
market jori next year, South Korean cars aieacfteduledtobe 
introduced. Meany*iki tibe United States continues to sell a 
range of goods in' South Korea, from commodities such as 
cotton, com and wheat to high-tech equipment such as 


Most erf US. -Sooth Korean trade is based an mid com- 
parative advantage, with South Korea selling mainly labor- 
intensive products to tbe United Suites and obfammg nato- 
rataesouroe and techndkigy4aiensive products in return. 
This rdlects the strong complementaxiu that exists between 
the two economies and is farther reflected in that many 
American firms such as General Motors, AT&T and Mon- 
santo have made direct investments in South. Korea-and all 
four of the big South Korean conglomerates, Hyundai, 
Ramming , Lucky Goldstar and Daewoo, hav£jhude invest- 
ments in the United States. 

Nevertheless, with the increase indirect crapped don be- 
tween South Korean and American firn^'tb^ppoitnmties 
for trade conflict have multiplied. Japan has^turen most of 
the heat of US. trade conqnaims because «its relatively 
idosed market . However, South Korea has brim accused a 
bring a second Japan and is worried that it win be tarred 
with the same brash. Sooth Koreans respond^ hat they are 
jnqre like a second United States titan a second Japan, in 
that they have a trade, deficit, and are prevented from 
penetrating the Japanese market to any grraiKexteiiL 
. South Koreans have become more nervpcjs over rising 


1984 and were re&ved when the extension was enacted and 
they were finally included. In steel, they were not so lucky 
and were forced to sharply curtail their exports by the low 
quota assigned to them. Furthermore, several South Korean 
firms have run afoul of U.S trade laws. South Korean 
television sets were assessed anti-damping duties in 1984 
and, as a result of a dumping complaint roll in process, a 
sinnhr fate may befall producers of oil rigs. 

Furthermore, tbe American shoe industry has been sus- 
tamed by the International^ Trade Commission in its daim of 
import injury. If Washington decides to grant someproteo- 
trve relief, Sonth Korean suppliers are sure to suffer. Howev- 
er, die most serious threat relates to textiles and clothing, 
where protectionist forces have been lining np congressional 
support for new restrictive action. They are rqwrted to have 
52 co-sponsors in the Senate and 585 in the House of 
Representativts for the proposed legislation, which would be 
paraculariy rtstrictive on the top five suppliers to the Um ted 
States, including South Korea. 

On thwf side; Americans have many complaints about 
access to the South Korean market despite some steps by 
Sooth Korea toward liberalization. Important American 
products such as cigarettes and microcomputers cannot be 
sold in Sooth Korea and other products such as cosmetics 
that have ostensibly been liberalized have had their tariffs 
raised. Moreover, American service products such as motion 
pictures have been restricted and ranking and insurance 
form* have been hampered. Americans are particularly wea- 
ried by the inadequate protection of intellectual property 
tights in Sooth Korea. 

The writer is a senior fellow in the Brookings Institution in 
Washington. 


By Dinah Lee 

SEOUL — Few national leaders 
have set as exacting an agenda for 
their administration as President 
Chun Doo Hwan of South Korea. 
Promising that he win sup down ax 


■ The return of Kim Dae Jung, the 

opposition politician. Page IQ. 

■ Seoul’s changing foreign policy 

priorities. Page U. 


the end oT his second term in office 
since his accession to the Blue 
House five years ago. the former 
military leader has given the year 
1988 a special significance. 

That is tbe year South Korea will 
host the rest of the world at tbe 
Seoul Olympic Games. That is the 
year by which he expects tbe econo- 
my to have achieved significant lib- 
eralization to allow foreign invest- 
ment and imports. Most important, 
that is the year of decision for a 
new era in South Korean politics: 
There will either be another gov- 
ernment with its roots in Mr. 
Chon's military establishment or a 
restoration of the completely civil- 
ian leadership South Koreans ap- 
pear to want 

Their preference was most clear- 
ly reflected in the unexpected en- 
dorsement they gave civilian candi- 
dates challenging Mr. Chun in the 
indirect election for National As- 
semblymen held on Feb. 12. Tbe 
election setback for Mr. Chun 
might well have been a total defeat 
had opposition votes not been split 
among various factions. 

The newly formed majority op- 
position group, the New Korea 
Democratic Party (NKDP% won 67 
out of a total or 276 seats in the 
voting by 5,000 delegates. The rul- 


ing Democratic Justice Party (DJP) 
won 87 seats and thereby earned 
the bonus of another 61 seats 
awarded to the winning party un- 
der the roles of the constitution. 
Had rival opposition parties, in- 
cluding the leading minority oppo- 
sition group, the Korean National 
Party, thrown their support in the 
direction of the NKDP, civilian re- 
formists, supported by the banned 
opposition leaders, Kim Dac Jung 
and Kim Young Sam. might now 
be in the Blue House. 

As it happened, Mr. Chun's DJP 
remains in power with 35 percent 
of the mandate, an uneasy perch 
from which to oversee South Ko- 
rea's democratization program or 
to take the international spotlight 
as host to the Asian Gaines in 1986 
and Olympics in 1988. 

Mr. Chun's response to the chal- 
lenge of his opponents, both before 
and after the elections, has been 
worth watching in a region where 
the rapidly industrialized coumries 
are often lumped together as if 
their enviable economic growth ob- 
scured their differing political cir- 
cumstances. 

Comparisons can be edifying. 
While Hong Kong struggles to' dic- 


While Hong Kong struggles to elic- 
it any public interest in its first 
indirect elections to the legislature, 
South Korea's February ballot 
brought 84 percent of the voters to 
the polls. Unlike the Filipino dissi- 
dent, Benigno S. Aquino Jr., who 
was assassinated as he returned 
from exile in the United States, 
Kim Dae Jung returned safely from 
two years of political exile at Har- 
vard. He now campaigns under cer- 
tain restrictions. 

Moreover, both of South Korea's 
leading opposition challengers to 
Mr. Chun strongly support the con- 
tinuation of a U.S. military pres- 
ence to aid the defense of the Re- 
public of Korea against its 
(Continued on Next Page) 







Attentive, patient, a thoughtful move in 
every situation, ffs something you uiU fast 
appreciate aboard tbe wide bodied jets of 
Korean Air, as you travel to 29 of the 
world's major destinations. 





-4 i H»w 


KSKEANAIR 

\Mfre honored to serve you around the world. 



i 




Page 10 

A SPECIAL REPORT ON SOUTH KOREA 


INTERNATIONAL HERALD TRIBUNE. THURSDAY, JULY 18, 1985 


Debt Load 
Troubles 
Koreans, 
Not Banks 


(Cautioned From Prey ions Page) 

ex in Seoul pul it, there are good 
loans and bad loans, and the Kore- 
ans have spent the money more 
wisely and never let a repayment 
date go by. The beavDy export- 
oriented nature of the economy has 
meant a regular flow of foreign 
exchange with winch to service 
debts. 

South Korea’s debt-service ratio, 
which measures the share of export 
earnings devoted to maintaining 
loan repayments and interest, is 
running at just under 20 percent, 
high by international standards but 
a fraction of the levels in the big 
three Latin American borrowers. 

The technocrats in charge of eco- 
nomic policies in Seoul have gained 
the respect of the international fi- 
nancial community in their strict 
practice of monetary and fiscal 
austerity to reduce inflation and 
improve the country’s international 
competitiveness. Inflation, which 
was rampant through the 1970s, 
has been brought under control 
Although the economy still seems 
to be walking a tightrope with very 
little margin for error, it has not 
lost its credibility among lenders. 

Export slumps in heavily indebt- 
ed industries, such as shipbuilding, 
shipping and overseas construc- 
tion, have been the source of a great 
deal of strain in recent years. 

The first half of 1985 has been 
good for South Korean borrowers. 
South Korean demand for loans 
has remained roughly constant, 
while several Southeast Asian 
countries have cut back on new 
loans. UiL interest rates have fall- 
en, and Japanese banks, which 
have become increasingly active in 
the region as a whole, nave shed 
their reluctance regarding loans to 
South Korea. 

Foreign debt is the source of live- 
ly political debate in South Korea. 
Politicians from the main opposi- 
tion pony, the New Korea Demo- 
cratic Party, regularly criticize the 
government for amassing^such 

snowballed since President Chun 
Doo Hwan took power in 1980. 
They have touched a sensitive 
nerve — one of the most common 
questions Koreans ask foreigners is 
what they think of the debt prob- 
lem. 



Opposition Leaders 
Hurry to Catch Up 
On Their Lost Time 


Economic Miracle Brushes With Reality 


By Young Chul Park 

SEOUL — Exceptional and re- 
markable are the two adjectives of- 
ten used to describe the perfor- 
mance of the South Korean 
economy during the years 1983 to 
1984. Economic indicators seem to 
justify the effusiveness of the 
praise. 

After two years of moderate 
growth, the economy swung sharp- 
ly upward and recorded a gross 
national product growth rate of 9.5 
percent in 1983, one of the highest 
in the world. This upturn was fol- 
lowed by a 7.6-percent growth in 
1984. While tne economy was 
growing at a faster pace than be- 
fore, wholesale prices remained vir- 
tually unchanged and the current- 
account balance of payments 
registered a smaller deficit both in 
absolute terms and as a fraction of 
GNP. 

The economic upswing in 1983 
was sparked by a substantia! in- 
crease in both private consumption 
and private construction and was 
sustained by a strong pickup in 
export earnings in the second half 
of that year. Due largely to the 
recovery of the U.S. economy, 
which provides the largest export 
market for South Korea, and the 
overvalued dollar. South Korea's 
commodity exports on a balance- 
of-payments basis grew 1 i percent, 
to reach $232 billion in 1983. 

Commodity imports, on the oth- 
er hand, rose by less than 6 percent 
As a result the current account 
sbowed a sharp decline in deficit to 
$1.6 billion from $2.6 billion a year 
earlier. 

The rapid expansion of exports, 
nratly heavy industrial and chemi- 
cal products such as electrical and 
electronic machinery and ships. 


continued into 1984 and contribut- 
ed toa IO-6-percemGNP growth in 
the first half of the year as com- 
pared to the corresponding period 
of 1983. Toward the latter pan of 
the year, however, the economy be- 
gan to slow down considerably as 
export growth faltered and domes- 
tic demand also weakened. 

Both fixed investment in plant 
and equipment and private con- 
sumption showed low growth, with 
home construction registering an 
absolute decline. The slowdown in 
domestic demand reflected, in part, 
restrictive monetary and fiscal poli- 
cies. The marked upturn in the first 
half was. therefore, partly offset by 
the cooling off in the latter half, to 
result in a 7.6-percent growth for 
the year. 

The expansion of merchandise 
exports, which amounted to a 135- 
percent increase over the 1983 fig- 
ure. outstripped the growth of im- 
ports (less than 10 percent), to 
produce a substantial improvement 
in the trade account This gain was. 
however, mostly canceled out by a 
lame increase in the service trade 
deficit so that the current account 
showed a maiginal improvement 
with a deficit of $4 billion in 1984. 

The single most remarkable 
achievement of the South Korean 
economy in recent years has un- 
doubtedly been sustained price sta- 
bility. Over a three-year period, 
from 1982 to 1984, wholesale prices 
on a year-end basis rose by 5.6 
percent and consumer prices, by 
13.4 percent. This development 
was in a sharp contrast to South 
Korea's long history of inflation. 
Indeed, the country has never en- 
joyed such a long period of stable 
prices, with or without rapid 
growth. 


During the 1970s, for example, 
the rate of inflation measured by 
wholesale prices was on average 
close to 16 percent pier year. The 
recent decline in the price of oil and 
other imported raw materials and a 
slowdown in wage increases have 
played a major rue in restraining 
price increases. However, consis- 
tent stabilization efforts, including 
prudent monetary and fiscal poli- 
cies designed to moderate wage and 
price increases at home, have 
helped the economy capitalize on 
the favorable external develop- 
ments. 

In the first six months of this 
year, the growth of both exports 
and investment demand has con- 
tinued to be sluggish. On a cus- 
toms-clearance basis, merchandise 
exports actually fell 4 percent dur- 
ing the period as compared with the 
same period a year ago. Business 
investment in plant and equip- 
ment, which in the fourth quarter 
of 1984 fell below the level of the 
quarter a year earlier, has rebound- 
ed somewhat in recent months, but 
is expected to fall short of the tar- 
get levet 

The slowing of the overall do- 
mestic economy, the poor export 
prospects and the uncertainties sur- 
rounding the future direction of 
credit policy and government ef- 
forts to restructure industries and 
to reduce die concentration of eco- 
nomic power appear to have dis- 
couraged investment. 

The economies of the United 
States and Japan, which absorb the 
bulk of Sooth Korean exports, are 
not likely to grow as rapidly as they 
did last year. Also. South Korea’s 
exchange-rate competitiveness in 
European markets has been under- 
mined by movements of the U5. 


dollar, making South Korea's ex- 
ports to these regions much more 
difficult than in the past 
Moreover, reflecting the slow 
growth of the advanced economies, 
the world trading environment is 
expected to deteriorate further. To 
make matters worse, these advene 
external , developments have been 
compounded by some of the struc- 
tural ineffiriences of South Korea's 


export industries. 

South Korea has concentrated 
on exporting a relatively 
number of diversified products in 
small amounts. This strategy has 
made its exports highly visible and 
hence an easy target for protection- 
ist action abroad. The lack of prod- 
uct diversity has reduced South 
Korean exporters' ability to meet 
the demand for a greater variety 
and smaller quantity of products, 
and thus made h difficult to endure 
the recessionary period. 

The marked slowdown in the ex- 
pansion of export and domestic de- 
mand has certainly rinnd«fl the 
growth prospects of South Korea 
this year. In the first quarter of 
1 985, the economy grew by 4.1 per- 
cent well below the target level 
and the second-quarter perfor- 
mance is not likely to be any better. 
Concerned with this low growth, 
the authorities have moved cau- 
tiously to promote exports and to 
revive investment demand. They 
have made more bank loans avail- 
able to exporters for capital invest- 
ment and augmented short- term 
export credit facilities. They have 
also devalued continuously to pro- 
duce a 4-percent depreciation of 
the trade-weighted real exchange 
rate over the last three months. 

The writer is a professor of eco- 
nomics at Korea University. 


SEOUL — The return of Kim 
Dae Jung, the opposition politi- 
cian, to South Korea after two 
. years at Harvard University drew 
as much international publicity, if 
not more, as last year’s historic visit 
by a South Korean leader to Japan 
or the start this year of serious talks 
between North and Smith Korea 
on economic contacts and family 
reunification. 

Comparisons between Kim Dae 
Jung and Beuigno S. Aquino Jr., 
assassinated in August 1983 in Ma- 
nila on his return bom political 
ex3e at Harvard, were inevitable. 
But the differences between the 
two cases are greater than their 
similarity. Although there were 
fears that Kim Dae Jung would be 
arrested on his arrival, he was in- 
stead banned from political activity 
and remains subject to a suspended 
sentence of 20 years in prison after 
being convicted of sedition by a 
military court. (He was released 
from jail for medical reasons, in 
1982 and then went to the United 
States.) 

The impact of Kim Dae Jung’s 
return jnst before February's na- 
tional elections cann ot be overesti- 
mated, although almost as soon as 
he landed, he was fielding criticism 
that he was a political has-been 


whose public influence bad peaked. 
His fellow opposition leader, Kim 
Young Sam, who had been sporadi- 
cally subjected to house arrest, was 
prevented by security officers bom 
leaving his home to go to a dinner 
for the returned exile. 

The official election campaign 
period was a limited one, which 
worked against the opposition can- 
didates. Spokesmen for the New 
Korea Democratic Party (NKDP), 
the main opposition group, claim 
that the government-controlled 
central election commission ham- 
pered their efforts to set up a head- 
quarter and solicit donations. 

Despite this, the excellent show- 
ing of the new coalition of apposi- 
tion forces i»ideHin«d the wsdom 
of the two Kims in burying their 
political rivalry, a rivalry which 
ruined their chances for power in 
the days after the assassination erf 
President Park Chung Hee in 1979 
and before the military coup by the 
current president, Chun Doo 
Hwan. 

“Frankly, oven the circum- 
stances, we fed we won these elec- 
tions, said Jeymoon Chung , a se- 


nior member of the NKDP, 
recently. 

Five months after the election, 
both Kims are still prohibited from 
belonging to a party, but they give 
the impression of middle-aged men 
anxious to catch up on lost years, 
packing each day with private 
meetings, media interviews and or- 
ganizational appearances. Despite 
Their allegiance to rival provinces, 
their diffoing educational back- 
grounds and the generally held 
view that Kim Dae Jung is closer to 
unions and students, while Kim 
Young Sam is more moderate, their 
mutual policies could be labeled 
anH - TWnminm t and liberal 

In June, they pressed the govern- 
ment for a dialogue with their co- 
alition over a timetable for democ- 
ratization. Both the opposition 
leaders warned of increasing ten- 
sion and impatience, which could 
create an “unhappy situation” by 
next spring, the traditional season 
for political unrest, should the 
leadership fail to arrive at a liberal- 
ization program. The ruling parly’s 
response was to condemn the rwo 
Kims’ “personally contrived de- 
mocracy” as “a public enemy im- 
peding the development of real de- 
mocracy.'’ 

Interviewed at their respective 
homes in June, both Kim Dae Jung 
and Kim Young Sam denied they 
were setting out to foment unrest. 





/ 


Kim Young Sam 


r. 

pv ?:■/.: -Sj 




i 


saying that they were merely fore- 
casting the probable public re- 
sponse to any delays in the democ- 


ratization process promised by Mr. 
Chun. 

Kim Young Sam said, “Our re- 
quest was based on the idea of 
asking for a timetable for rewriting 
the constitution within one year 
from the February elections, that 
is, by March. I also mentioned the 
need to have a more detailed dis- 
cussion with the ruling party by 
autumn, referring to the September 
start of the regular session of the 
National Assembly. A student or 
labor u prising or a military coup 
d’etat could occur sometime next 
year if the ruling party is not will- 
ing to revise (he constitution, and 
not achieve tidier democracy for 
South Korea. Such an uprising 
would be a tragedy for the whole 
countiy.” 

Kim Dae Jung maintain* that 
activist student forces look to the 
opposition coalition for F ulfill mea t 
of a democratization program, but 
are growing impatient. 


Kim Dae Jung 

Kim Dae Jung also claims to 
have the backing of important 
businessmen who are dissatisfied 
with Mr. Chun's policies, and even 
support from some corners of the 
military as well 

European diplomats hold that 
U.S. officials in South Korea won} 
that Kim Dae Jung might not be 
acceptable to the country's military 
establishment, and that Kim 
Young Sam. or the NKDP’s presi- 
dent, Lee Min Woo, would be com- 
promise choices once Mr. Chun 
steps down. 

Kim Dae Jung disagrees. “We 
must overcome this mfistence that 
the next president must be accept- 
able to toe military." he said. “In 
1980, the Korean military said the 
same thing , that I was pro- Com- 
munist, the Kim Jong Pd [former 
prime minister under Mr. Park] 
was corrupt and that Kim Young 
Sam was acceptable. But they never 
gave Kim [Young Sam la chance." 

—DINAH LEE 


Korea's No. 1 Business Monthly 


Reach 7,000 of the World’s 
Top Moneymen 

By Advertising in Business Korea’s 1985 
October Issue World Bank/ IMF Special 
Supplement. 


Business Korea will publish a special issue to mark the Seoul meeting of the World 
Bank and International Monetary Fund (IMF) in October this year. As in 1984, the 
special IMF section will highlight the international banking community’s role in the 
development of the Korean economy. We will examine the community’s efforts to im- 
prove local financial markets as well as its financing of large-scale projects and, of 
course, we will present a clear picture of Korea’s US$43 billion debt: How it’s being 
managed and what factors impact on the further extension of credits and repayments. 
As Korea’s most respected English language magazine that focuses on Korea's 
economy, finance and trade affairs. Business Korea will also include several stories on 
the economy and on business to inform visiting bankers of Korea’s problems and pro- 
spects. 


Chun Transition Agenda Poses Challenge 


(Continued From Prerioos Page) 
Communist neighbor to the north, 
the Democratic People's Republic 
of Korea. 

Although -one of Asia’s four 
“economic dragons," along with 
Singapore, Taiwan and Hong 
Kong South Korea must be exam- 
ined in its own unique context. 

Under growing domestic and in- 
ternational pressure to broaden po- 
litical expression and restore aril 
rights, Mr. Chun has taken some 
steps toward liberalization. Re- 
cently, delegates of the newly 
formed Asia Watch Grom a coun- 
terpart to the Americas Watch and 
Helsinki Watch groups, reported 
observing some moves away from 
repression in South Korea. 

“That is not to say that unofficial 
methods of repression among tabor 
unions and student groups have 
ceased.” said one delegate, who 
stressed that the improvements 
were relative to what has gone be- 
fore. 

Most dramatically, Mr. Chun re- 
stored civil rights to potiticans, ac- 
tivist professionals and religious 
workers who had been' banned 
from political activity. Between 
December 1983 and last March, 
some 600 dissidents' names were 
dropped from government blade- 
lists, although Kim Dae Jong's sus- 
pended sentence for sedition stiD 


prevents him from participating of- 
ficially in politics. 

The president has also agreed to 
prohibit plainclothes security po- 
lice from, entering university cam- 
puses, while political detainees are 
now held for not more than a 
month, and then often released 
without charge. Most visible to the 
international eye, both Kim Dae 
Jung and his ally in opposition. 
Kim Young Sam, are allowed a 
certain degree of public expression 
and access to the foreign media, 

At this spring's inaugural session 
of the newly elected National As- 
sembly, the ruling party got its first 
sharp taste of the opposition’s 
readiness to take die offensive. Un- 
der the NDKP party president, Lee 
Min Woo, opposition assembly- 
men have gained confidence as a 
result of the election results. This 
contrasts markedly with the docile 
performance during Mr. Qnrh’s 
first-term of the token opposition 
party, the moderate Democratic 
Korea Party. 

The ruling party, dearly on the 
defensive, most now respond to a 
simple platform of proposals from 
opposition challengers: a return to 
direct elections for the presidency 
by 1988, the restoration of elections 
and civil autonomy for local dis- 
tricts, tbejight to free speech and a 
free press, and the end to entangled 


relations between government and 
the 30-odd conglomerates, or chae- 
bol. that run the Connery’s econo- 
my. 

All but the last proposal consti- 
tute, in fact, a demand to restore 
the civil rights that South Koreans 
enjoyed before President Park 
Chung Hee’s revision of the consti- 
tution in 1973. 

The calls far reform are boosted 
by more frequent incidents erf ac- 
tivism by students and labor 
unions. The student occupation in 
May of the U.S. Information Ser- 
vice buildup in Seoul prayed a suc- 
cessful strategy for focusing atten- 
tion on the actions of Mr. Chun's 
government and the U.S. military 
five years ago during the anti -gov- 
ernment Kwangju insurrection, 
which left many dead. The students 
subsequently withdrew from the 
U.S. building after Kim Dae Jung 
and Kim Young Sam urged them to 
avoid being used as a propaganda 
weapon by the North Koreans on 
the eve of important North- South 
talks. 

Students have traditionally 
viewed themselves as the “political 
conscience” of the nation, said one 
diplomatic expert on an/fant and 
labor affairs in South Korea. Since 
the Korean War, their historic role 
has turned them into self-styled 
representatives of democratic 


forces, avoiding the “tainl" of for- 
mal links with any specific party, 
including opposition groups. 

However, diplomats observe that 
since Mr. Chun introduced a policy 
to increase the number erf universi- 
ty admissions, the elitist element in 
student ranks has been diluted ^nd 
tbe range of their interests has 
broaden. Their links with labor 
have strengthened and the student 
movement's agenda for change has 
come to include more concrete so- 
cial reform s. 

Apart from the question of stu- 
dent influence, labor disputes are 
on the rise. In the biggest strike 
during Mr. Chun's administration 
to date, more than 2,000 Daewoo 
motor company workers hdd out 
for 10 days in April for wage in- 
creases, and won. Daewoo conced- 
ed a 12. 1 -percent increase in aver- 
age annual wages and benefits, well 
above their initial offer of 5.7 per- 
cent 

The government's response was 
moderate; no security men were 
sent into tbe factories, as has hap- 
pened in the past The strike was 
seen as significant in a country 
where the distribution of the fruits 
of hard work and rapid economic 
growth has become an issue. Smith 
Korea's per capita income is still 
well below that of Taiwan, Hong 
Kong and Singapore. 


tesS ' r j eg. 


■ Sir - ■= V I 

rOs. 






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Business Korea 

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WHERE THE WORLD IS AT HOME 5M 











INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


Page 11 





A SPECIAL REPORT ON SOUTH KOREA 


101,1 Sai^ u 



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in uipiomacy 




SEOUL — Sooth Koreans have 
been accused in the past of a sort of 
diplomatic myopia, regarding the 
. foreign affairs or China, the 

United Slates and the Soviet 
Union, almost entirety in-ienns of 
SeouFs own most immediate con- 
cern, its Co mmunis t neighbor and 
cold war rival of 30. years, North 
Korea. • 

However, two dements may be 
helping Seoul U) broaden ^ diplo- 
matic vision. One is the importance 
to President Chun Doo Hwan's 
government of international sue-, 
cess in hosting the Olympic Games 
in 1988. The other is the shift in 
diplomatic relations between allies 
and enemies, requiring new and 
more flexible responses from SeonL 

Just as the 1964 Olympic Games, 
in Tokyo helped Japan move to the 
forefront of developing Asian 
countries, the 1988 Olympics may 
signal, along with Mr. Chon’s 
promised retirement from office 
and the planned fiberaUzatibn of 
the economy, the coming at age for 
Sooth Korea. 

In a sense, the Asian Games, to 
be held in Seoul in 1986, are a dress 
rehearsal for the Olympics, politi- 
cally as weQ as JoguticaOy. Smith 
Korea would like to Geld a team 
jointly with North Koreans, but for 
the North, this would imply de fac- 
to recognition of the Chon govern- . 
meat and the legitimacy of Sooth 
Korea as a~ nation. 

Nevertheless, the idea is not 
quite as preposterous now, given 
the diplomatic progress of 1985. as 
it would have been in 1983. That 
was a traumatic year for South Ko- 
rea diplomatically, wi th tire down- 
ing of a Korean Airlines plane in 
Soviet airspace and the assassina- 
tion bombing of 17 leading South 
Korean government leaders in 
Rangoon within weeks of each oth- 
er. fuse and the efforts of other 
countries have helped to heal those 
wounds to a noticeable extent 

Prime movers for change in the 
lautty balanced tension between 
Seoul and Pyongyang have been 
the Chinese, who took the opportu- 
nity of the May 1983 hijacking of a 
Chinese civil airliner to South Ko- 
rea to open unofficial contacts with 
Seoul thereby signaling to its long- 
time ally. North Kona, that, the 
world, or at least China, was ready 
for improved relations on the pen- 
insula. 

At the beginning of I98^it was 
the Chinese premier, Zbao 
who carried to Washington 


Korea's unexpected appeal for a. 
three-party peace conference, 
among Pyongyang, Seoul and 

W ashington , marking the first time 

North Korea had k 
ness to deal directly with the 
Korean gtrvenmrent 

In May 1984, the Chinese Com- 
munist Party general secretary, Hu 
Yaobang, spent a total of l3 hoors 
in private (xmversafioa with the 
North Korean leader, Kim H Sung, 
in Pyongyang and, diplomats be- 
lieve, dwelt heavily on the advan-. 
tages of opening up North Korea’s 
economy to Qrina-styk reform and 
foreign in vestment. Mr. Hu also 
advocated that Mr. Kim abandon 
the military option to reunite the 
Korean peninsula and initiate seri- 
ous talks with Seoul 

At the same time Gbma was 
making its drifting position 'dear in 
Pyongyang, it was stcpping'up its 
unofficial contacts -with Seoul 
through trade and sports ex- 
changes. Trade now stands at a 
level of about S8O0 million, and 
there are reports of (fired, albeit 
disguised, investment by South Ko- 
rean companies in China. 

In March of this year, the full 
extent of the new confiaKiy ber 
tween the two old enemies was 
demonstrated when South Korea 
returned to China the crew of a 
Chinese torpedo boat dial had 
drifted into Korean waters after a 
mutiny. Negotiations far the repa- 
triation of the crew were earned 
out in Hong Kong bdween South 
Korean consular officers and Hong 
Kong officials of China’s state-run 
news agency, Xinhua. In the pro- 
cess, they forged a diplomatic 
channel that may prove useful for 
trade and ^jorts links 10 come. 
South Korean businessmen are ea- 
ger to see trade with China grow 
unfettered. 

South Korean diplomats are 
only guardedly positive. “This wQl 
be a long but inevitable process. 
We are optimistic,” said the Gist 
assistant minister for foreign af- 
fairs, Han Woo Suit. 

Although there are no cold war 
barriers between South Korea and 
Japan as have existed between. 
South Korea and China, Mr. 
Gbim's historic visit to Tokyo in 
September of last year could not 
erase centuries of national suspi- 
cion between the two countries, nor 
did it see an end to the unpopular 
Japanese policy . of fing/apnntmg 
legal Korean, residents 


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Seoul Prepares for Olympic Games 
With, Bard Woilc, English Lesscms 

['[ By Laxmi Nakumi 
SEOUL sprawling residential district m the stratheastau 



,dayi 

Olympic Part Aaoss the street, a , 36-kflometer (22-mjfc) expressway 


to Knnpo International Airport is being bmlt parallel to the Han 
River, wlpch is also being developed as a poDutbo-freewaicr sports 
area.. . ;’l . . 

Outside the construction rites, a different kind of preparation rsS 
going on. Stodents, office workers said housewives are learning 1 
Engh£h aodapampaim has bees launched by the gewemmou to give 
privately tripled bmldmgs a face-lifting. Seoul's small and dirty tunr 
are be^^eliied up and even their notoriously unfriendly drivers, 
after tTannag'sessipns sponsored by the dty^jpyyernmeat, are more 
cdurtetnu^ey now hang cards in (hrir cabs.wi 
Iiltt‘‘Wh«isdo you want to go? 

- Thc ctHritroction of ihc sports complex started in 1977 and by the ^ 
tiwu- thB£0iympic Games were awarded to the diy, the complex 
two gymnasiums, an indoor stemming pool ana a 
While the huge stadium was tinder construction. 

J88-miIlian stadium, completed in September 
.w — -4! main stadium. A circular subway Bne transport- 
ing 180,000 people m hour connects the complex with southern, 
w^tetn and norUKiu outskirts of SeouL . 

^ According to the organizing committee, most of the 33 competition 

hosts^tte^Atian Games; An Olympic Park, 
consis^;o(tireCHyminc\ | Slla^pretevinaga,vdodro^gymDas- 
tics Ite^mddor swinmnngjpool and tennis courts is under amstnio- 
tiOm.' Eftqit for the two vifiages and the indoor swimming pool all 
facilities for the Otympks wl be ready by early 1986. 

Far tourists and spectators, Seoul has 54 international-class hotels 
offering 12,000 rooms. Before the start of the Olympic Games, 13 
hotels wEl be buDL ‘ 


Pop Idols, Shamans 
Share Hermit Kingdom 


international arena. South 
Korean trade .authorities seek to 
convince their export markets in 
the .United Sfates and elsewhere 
that they do not deserve the label of 
a “second Japan" in twins of. pro- 
tectionism. 

• Nevertheless, the dialogue be- 
tween Tokyo and Seoul proaikoted 
by >ir. Chun and Prime Minister 
Yasuhiro Nakasone, has survived 
these frictions and others in the 


past year, opemngnew diplomatic 
opportunities for Tokyo to 
role in easing tension on the 
an peninsula. Mr. Han feds that 
the Rangoon bombing awakened 
Japanese sensibilities to the full ex- 
tent of the tension and “now there 
is more and more a real sense of 
community between South Korea 
and Japan towards the security of 
the area." 

— DINAH LEE 


By Kim Kyong Dong 

SEOUL — It is not uncommon 
today to see thousands of teen- 
agers flock to the brand new 
20,000-seat gymnasium at the site 
built for the 1988 Olympic Games 
in Seoul to attend a rock concert by 
a Western idol on an East Asian 
toar. The same youths also would 
fill op an amphitheater to get com- 
pletely immersed in the satires and 
tragedies of traditional mask 
dances or narrative song called 
pansori. 

Only a generation ago, a young 
couple wanting down the main 
street of Seoul hand in hand or a 
man carrying the baby while his 
youthful wife window-shopped 
would have been a “scene” to be 
frowned upon. Nowadays, nobody 
would pay much attention. Even in 
noal areas, a couple riding on a 
farm tractor ride by ride in an inti- 
mate fashion is no strange phenom- 
enon. And yet, television programs 
occasionally show the exemplary 
life of large inultigcneraiion fam- 
ilies faithfully preserving the old 
Confucian tradition of patriarchal 
authority and family harmony. 

For another sample of the juxta- 
position of (he old and the new in 
contemporary Korean culture and 
society, a visitor could pay a visit to 
any university campus on some 
special occasion, usually the annual 
Founder's Day festivities or even 
some political rallies. After a full 
day’s activities filled with a mixed 
menu of Korean farmers’ dances, 
Alpine folk dances, freestyle native 
drama shows and disco parties, the 
dimax is reserved for a 
ritual Either a real shaman per- 
forms the gamine religious ritual 
or a student imitates it. 


even blunt, exposure to the West 
came after the end of World War 
H, when American troops landed 
in the southern part of divided Ko- 
rea. Three years of devastating war 
then have drawn American culture, 
or Americanized Western culture, 
more clcscty to the heart of the 
Korean people. 

To fflnstrate the extent of Ameri- 
can influence in South Korea, let 
me die some figures. More than a 
quarter of cabinet ministers, almost 
two out oT ten deputy ministers and 
dose to 10 percent of National As- 
semblymen who have been in pub- 
lic service since the establishment 
of the I^jublic of Korea in 1948 
were trained in the United Stales. 


of the 100 largest corporations in 
South Korea. 7.S percent hold 
some postgraduate degree from a 
U-S. university. Almost a quarter 
of faculty members of the five most 
prestigious universities in the coun- 
try have earned their doctorates in 
the United States. Of course, 
among the generation of above 55 
or so, the Japanese background still 
looms large, especially in the case 
Of the political elite and to a lesser 
extent professors. 

At least on the surface. South 
Korean culture appears to be domi- 
nated by Western influence. Popu- 
lar culture is permeated by the 
American flavor. Mass culture may 
often resemble that of Japan, but it 
still is an “Americanized" Japan 
that seeps into the Korean soil AD 
kinds of fads, fashions and attend- 
ing foibles that reach here quickly 
thanks to the global network of 
communications largely are of 
American origin or influence. 


Automotive Industry Goes 
Into Gear for U.S. Market 


SEOUL — South Korea has a 
dream: to sdl passenger cars in the 
U.S. market. The attitude among 
gover nm ent planners, who draft 
blueprints for South Korea's ex- 
port-dependent economy, and 
h nanessingn, who seek government 
blessing far any nngor project, is 
that "If Japan can do it, we can do 
it, toq.” 

The “can do” spirit has resulted 
in. about SI billion in new invest- 
ments in the auto industry. The 
goal is, to emulate, ,Iapan in its soc- 

cessjn aiitoAXpc^,U> (fa* United 

States, where no Korean-made car 
has penetrated the mariceL 

In this drive to sdl canto Ameri- 
cans, U.S. automakers themselves 
are helping South Korea. General 
Moron augmented its investments 
by $100 million in its 50-50jcant 
venture with the Daewoogroim far 
a S427-nriHioa assembly line. Start- 
ing in 1987, GM will import 
200,000 units, or50pexcentof total 
of the GM-detigned 
tiac front-whed-drive subram- 
pacts. Ford Motor Co. and its Jap- 
anese partner, Mazda, are assisting 
Xia Industrial Co. to bttild sub- 
compact models for the North 
American market 


Mazda, which holds a small 
share in Kia, win design the car and 
Ford win assist in marketing and 
after-sales service in the United 
States. Hyundai Motors. South Ko- 
rea’s oldest and largest automaker, 
is tied in with Japan’s Mitsubishi 
Motors. But Hyundai wfll launch 
its U.S. campaign independently^ 
Exports are crucial far all three 
producers of passenger cars. Total 
production capacity will read] 
nearly 1 millio n units by 1988,rait 
the small domestic demand of 
about 100,000 units a year is not 
expected to grow sgmficantlyrAl- .• 
though the standard of living in 
South Korea is imploring, a car is 
still a luxury item; 32 kinds erf taxes 
pins cxpefasiyc insurance premiums 
more dun double a car's price 
when it reaches the consumer. 
Also, the price of gasoline in South 
■ Korea is the highest jn the world. 
Survival of the industry wfll thus 
depend an exports. 

in this auto-exports game, 
Hyundai is playmg the biggest 
stake. Encouraged by its success in 
Canada, Hyundai wants to pene- 
trate the US. market much earlier 
than Sonth Korea’s other subcom- 
pact makers. 

— LAXMI NAKARM1 


read a lot of English texts in hi- 
courses or in American psychology, 
look on the ritual with great enthu- 
siasm and some with dead serious- 
ness. Such ceremonies are fre- 
quently staged even in the 
ultramodern high-rise buildings of 
large modem corporations in Seoul 
when a construction project or the 
start of a new venture is dedicated. 

The history of Korea’s cultural 
encounter with the West is marked 
by waves of resistance, on the one 
hand, and almost blind adoption. 
on the other. After more than a “8 _ 
century of acculturation in Korea 
rising from contact with the West, 
an American friend of mine, well 
versed in Korean affairs, once con- 
fessed to me his surprise at the 
extent to which mass media, espe- 
cially TV, try to keep programs 
originating in the West down to the 
minimum- Even those programs 
created in the Western mold on the 
'airfare toid to be very miidt Kore- 
hn.'doro down in the subconscious, 
hesma\ , r i- 
fe Another recent visitor from the 
West expressed his amazement at 
the degree to which “healthy,” or 
positive, nationalism has been 
helping the country swm through 
difficult waters of international 



commsuroRs 

PAUL ENSOR is a Seoul-based correspondent for the Far Easton 
Economic Review. 

KIM KYONG DONG is professor of sociology and director of the 
Institute of Social Sciences at Seoul National University. 

LAWRENCE Bl KRAUSE is a senior fellow in the Brookings 
Institution in Washington, D.C 

who contributes 
The Washington Post 


LAXMI NAKARMI is managing editor of Business Korea, a 
monthly economic and trade review. 

YOUNG CHUL PARK is a professor of economics at Korea 
Univerrily. 


y The initial cosuact with the West 
was made through Roman Catholic 
dnsjdonaries stationed in China in 
the 18th century. Catholicism was 
Severely prosecuted, however, be- 
cause it was considered an alien 
heresy. In the late 19th century, 
Korea, the Hermit Kingdom, was 
once again shocked by the invasion 
of the “blade ships" of Western 
f’baihaxuns*' and fiercely fought 
back, in vain. It was subsequently 
forced to open its ports to foreign 
trade. 

t The atmosphere then had be- 
come more amenable to things 
(Western. Taking advantage of this 
Change, Protestant missionaries 
jntow were able to introduce modem 
medicine, modem schooling, news- 
papers, railroads, and modem 
Western thought, including democ- 
racy, along with their religion. The 
impact, however, was still limited 
m scope and depth, 
i During Japanese colonial rule 

S western culture was 
i Korea piecemeal d- 
by a handful of intel- 
lectuals trained in the United 
States and Europe or indirectly 
through Japan. The moat direct. 


people 

housewives, consists of Western 
classics of a wider variety in litera- 
ture, arts, music and philosophy. 

In spite of all this, Korean cul- 
ture hangs an tenaciously, and 
these days there is an air of renais- 
sance of the old Korea. The genera- 
tion that spent their youth before 
the fifties tended to be contemptu- 
ous of their own heritage, probably 
out of shame of having succumbed 
to colonization and out of the sense 
of envy fdt in the face of the glar- 
ing culture from the West, with its 
economic might and technologoi 
advances. 

Today’s youth, however, do not 
share the same feeling. They are 
more likely to be selective in their 
response to Western culture and 
take more pride in native tradi- 
tions. With the experience of suc- 
cessful economic growth, which has 
upgraded the international status 
of the nation within just a few de- 
cades, there has been a resurgence 
of nationalistic sentiment for a re- 
naissance of traditional Korean 
cultur& 

This tendency is not confined to 
what is ordinarily called the cultur- 
al sphere. In social norms and un- 
derlying vali 
rival 


values, the interest in re- 
the old Confucian family 
spirit is apparent. This may be an 
adaptive response to the shock of 
rapid industrialization and accom- 
panying urbanization; which tend 
to negatively affect the traditional 
family structure and primary hu- 
man relations. 

The idea and practice of individ- 
ualism and democracy, among oth- 
er things that have been transpl**-!- 
ed from the West in (he history of 
acculturation, has played its role in 
transforming social patterns in 
South Korea. The status and role of 
women, for instance, has been 
changing to some extent Such vir- 
tues as respect for authority, discs' 
pline and frugality, which are said 
to have been conducive to the 
achievement of rapid economic 
growth, are gradually bqrinmng to. 
lose their grip, especially among 
the young. 

It is in reaction to these changes 
that traditional collectivist values 
like filial piety and loyalty to the 
nation are being revived. 


The writer is professor of sociology 
and director of the Institute of Social 
Sciences, Seoul National University. 


Cutout to Korea 
this>ear 

I would like to cut out to Korea, the best kept 
secret in Asia. 

Please send me a free holiday information kit. 


Name: — 

Ox, 

Address:. 


A Send mi 


BJSFAHT/T3/B 


1 Korea National Tbwrism Ccwporarfcn, 

JOTfrdong, Qumggu, Seoul, Korea. 

CP.O.Box 903. Seoul. Korea 

Tel: (02)757*6030 Tk: KOTOURK28555 


KoreA 



COME TO SEOUL 



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Seta OMicm n Japan Totyp 1031 584 0632. 3, Osaka \OU 3 W- 1019 


The Westin Chosun, 
Korea’s first 
international hotel 
is still Korea’s finest 



The Westin Chosun hotel in Seoul 
located in the heart of the business and 
financial center that grew up around if, 
was Korea’s first international hotel 
The Westin Chosun today remains 
the first choice of the international 
business traveller. Newly-renovated 
rooms, a choice of superb restaurants, 
an Executive Center with 24 hr. telex 
and Wstin-quality service from one of 
Asia’s most experienced staffs are just 
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The next time you come to Seoul 
discover the added advantage of a great 
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The WtsnN Chosun 

Seoul 

CJP.O. 3706 Tfelex: K24256 


For reservations, call your travel agent or contact other 
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Partners in travel with United Airlines. 


r V. .-.Vtf .. SsV4-f.': .. 
r ... **t • 


• * v‘ v- / •:* •'* 

\ 

’• *, a..'' 





Korea Exchange Bank 
isn’t just Korean. 
It’s international. 


Being long regarded as the hallmark of Korean finan- 
cial leadership, we are now offering our services 
through 50 overseas offices around the world. When 
you need an international bank staffed with financial 
experts who can provide you with up-to-date financial 
information, you need Korea Exchange Bank. Korea's 
largest banking institution. 


korer ajr exchrnee brisk 


Hud Office. C.PO Bon 2924 Seoul We* No. K2*2U. K3W5.K27237.K27354 
Cable Address' KO EX BANK SEOUL W 771-46 

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Panama. Mexico City. Caracas, Seo Piuto, london. Pars, fianklurt. 

Airwantem, Zurich, Btuxseh. Vienne. Stockholm, Madrid, Bahrein. Wwxan. 
NanoDi. Tokyo. Osaka. Fukuoka. Hong Kong. Sngapow. Mania. Kuala Lunput 
Jakarta, Bangkok. Sydney 

Sutakfiorlea. CaMomia Korea Bank uu Angelas. KES I Asia) Finance Ltd 
Hong Kong. Korea Exchange Bank of Canada Toronto. Cm Far Eau Bank 
S A 5 Cam Lob Bank ot Nigeria Ltd 






«alf£ awtis IOfmiini»MKSSl*»smffMifiiiM» l*ni 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


6u 


Wfednesdayfc 

MIEX 


Tables Include the nationwide prices 
up to the dosing on wall Street 
and do not reflect kite trades elsewhere. 
Via The Associated Press 


7YS 
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2s 

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40 
48 
4 

114li 114 

raw ism 

tfc 4b 

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11* For MIL 42 

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64 m 
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38 15 
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7* 13* 
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3 27* 
6 71k 

44 41* 
212 27* 
6* 14* 
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24* 25 - * 
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41* 41*— ■* 
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13* W* + * 
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11 5 25* 351k 25* + M 

19 599 10* 81* lMk +1* 

3 I* 1* 1* 

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17 115 11* 11* 11* + * 


12* 8 Vi FPA 

22* 1C* Fablnd 
4* 1* FatmiC 


30 9* 9 9M— * 

IB 1814 18* 18*— * 
5 1* 1* 1*— * 




t£S l 


BERLINER BANK 
REPORT 1984 
WELL- EQUIPPED 
FOR THE FUTURE 



The offering of 26% of its stock to the 
general public in 1984 was one of the 
most significant events in the history of 
Berliner Bank. The resuiting expensive 
increase in capital greatly influenced 
the growth of our business, which rose 
by 12£% to almost DM 13 billion. The 
expansion occurred in both the inter- 
bank and other loan sectors. Our 
branches in the Federal Republic of 
Germany and London have assumed 
an increasingly significant role in this 
growth. 


Profit and Loss 
Statement 
(in million DM) 


Net Interest 
Net Commissions 
Operating Expenses 
(excluding Depreciation on 
Fixed Assets) 

Operating Profit 
Net Profit 


■ui 


INVESTMENT 
OPPORTUNITY * 


1* I* 
3* 2* 
11* 11* 
raw raw 
35- 35 
3* 2* 

6 * 6 * 
9* 9* 
211b 21* 
18* MW 
6 Vi 6* 
9* 9* 


Vb 10W 
20* 

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* 13* 

* 18* 
Vk 6* 
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* 15* 

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7* 

30* 

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19* 
IBM 


13* 
2* 

373 31* 

37 11* 
12 7* 

374 4* 

46 4* 

23* 
18* 
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20* 
74k 
1* 



IMPORTED 

Sr H ^ 

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PREFERRED; EASILY ACQUIRED; 
INSTANT UQUIDfTV 




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10* 5 21 mar .10 1.9 03 SW S 5* 


AMEX lUghs-Lovvs 


NYSE High s4jows 


I r»* Rain 


Floating-Rale Notes 




We are now represented by 83 bran- nue) increased by DM 27,0 million, 

ches in Berlin, six full branches in the Despite increasing operating 

Federal Republic of Germany and a expenses, which to a great extent 
branch in London with recognised arose in connection with substantial 

status. Investments in electronic banking 

technology, operating profit 

interest and commissions (gross reve- improved compared with last year. 


Balance Sheet 
(in million DM) 


Loans to Customers 
Deposits 

Loans to Financial Institutions 
Liabilities to Financial 
institutions 
Business Volume 
(Balance Sheet Total plus 
Endorsement Liabilities) 


12.953 


11.469 


BERLINER BANK 

AKTIENGESELLSCHAFT 


This, together with a further reduction 
of our need to make provisions for 
contingencies, resulted in a net profit 
of DM 26,1 million. At the General 
Shareholders Meeting it will be 
proposed to apply this net profit to the 
payment of a dividend of DM 6,- per 
qualified share. 

Included in our Group Report are. 
among others, Berliner Bank 
International S. A in Luxembourg, 
AJlgemeine Privatkundenbank AG 
in Hanover, and Braunschweig- 
Hannoversche Hypo theken bank AG. 
Total Group Assets amoiaited to 
DM 25,3 bllHon at the end of 1984. 

Upon request we would be pleased to 
provide you with our 1984 Annual 
Report. 


Head Office: Hardenbergstrafie 32, 
D-1000 Berlin 12. 

Telephone (030) 31 09-0 

Branches in: Dusseldorf, Frankfurt, 
Hamburg, Hanover, Munich. Stuttgart 
and London. 

In Luxembourg: Berliner Bank 
International S.A. 



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BUSINESS /FINANCE 


U.S. Stodts 
Report, Page 7 


.THURSDAY, JULY 18, 1985 


Page 18 


^Usually it’s at 
market tops that 
people are saying 


5? 


WMtiMPWMCH 

Stocks StOl Close to Vest 
With Stakes Never Higher 

By EDWARD ROHRRACH 

fnitmatienal HeraSd Tribune 

P ARIS — The slock, market is a bating man's game. And 
with ail the major averages at record levels in ik: United 
States, the stakes haye never been higher. But how many 
gamblers are there on Wall Street who wear green eye 
shades and like to ante up for stocks only when they are cheap? . 

As Michael Sherman, chief investment strategist atSheazson 
Lehman/ American Express put it: “Show somebody a coat 

for $400 and they’ll look funny at both you and the coat. Ask 
$4,000 for h and they’ll run thar fingers through the fur and start 

^^^mf^that, true to form. Wall Street will no doubt 
become there attractive — even become a ho us e hold word pg^wt 

— the higher it goes. 

Newton Zinaer, technical 
market analyst at ELF. Hut- 
ton, who views Wall Street as 
“in gear” internally and prom- 
ising to go higher, commented 
that he has never witnessed 
such lack of investor enthusi- 
asm while the maiket was at 

record highs. What has kept 

euphoria in check, be said, is the “one, consistent theme this year” 
of continued reduced earnings estimates for corporations. 

“Usually if s at market tops that people are saying business is 
great,” he noted. “The pessimism now about the economy is more 
indicative of market lows. The stock market looks says 
what it thinks will happen six months from now.” 

Fred Fraenkd, director of equity strategy at Pnidential-Bache, 
described Wall Street’s assessment now ofthe economy as “slug- 
gish; they think we may even be in a recession.” 

• A. Gary Shilling, an economist whose reparation has grown as 
the business expansion has shrunk, because it has been an event 
he has long been predicting, remains in that camp. Edward S. 
Flyman Jr_ economist at CJ. Lawrence, also believes the U.S. 
economy is closer to recession than rebound. 

“The last time service-sector employment was strong and 
manufacturing employment was walk, as it is today, was in 
1974,” he pointed out “Few knew it, but the economy was 
already in recession.” 

Nevertheless, Mr. Hyman noted that the firm’s Revisions 
Index, which monitors which way preliminary economic statistics 
are later altered, increased in April for the second straight month. 
If it continues to rise, he said, “it may be an early signal that the 
economy is starting to reacoderatc.” 

i CCORDING to Nis Braun, manager of foreign investments 
at Hamburg’s Verems-und Westbank AG, ‘‘That’s what 
JL A- the stock market is triling us now: the U.S. economy will 
get better. People beheve the worst is over and are looking across 
the vaDey ” 

Through the end of July, as unimpressive second quarter 
earnings are being reported, be had hoped to buy selected stocks 
cheaper during a market pullback. “I still enxet choppiness," he 
said, “but it's questionable now how much of a buying opportuni- 
ty wOl be presented.” 

Mr. Braun sees Wall Street advancing into September to the 
1,400 to 1,450 level. Then, he thinks, the market will backtrack 
some as interest rales turn higher toward the end of the year. That 
forecast makes him Tess aggressive'’ about interest-sensitive 
issues, but, he said, *Td still hke to ride them out.” Favorites are 
Phibro-Salomon, American Express and the regional banks. 

Baric industry stocks he said he is buying include DuPont, 
Seagram’s, PJP^fe G n Caterpillar, Sundstrand, Harmschfeger, 
US. Steed and Bethlehem. • 

In the technology sector he favors IBM, Cray Researdu Ad- 
vanced Micro Devices, GM“E” and CuDinet. MCI Communica- 
tions is a new purchase here. Preferred drug issues are Warner- 
Lambert, Pfizer, Merck, Upjohn and Marion Labs. Insurance 
plays are American General, Continental Corp. and CNAFman- 
da£ Food stocks also have more upside potential, he said, 
naming General Foods, Heinz and Ralston Purina. “Last bnt not 
( C a pti o n ed oa Page 15, CoL 1 ) 



Skid at 
U.S. Bank 


By William McBride 

International Herald Tribune 

NEW YORK BankAmerica 
Coro, at Wednesday repeated a 
$338 million loss in second-quartet 
earnings, most of it resulting from 
substantial iimeases in provisions 
forbad loans. - 


per common share, compares with 
a net income of SJ 10 minion, or 60 
cents a share, for the same three- 
month period in 1984. 

The San Francisco bank-bolding 
company posted a loss of 3224 mil- 
lion, or $1.71 a share, for the first 
six months of 1985, compared , with 
a net income of £111 million, or 
$1.15 a share, a year earlier. 

■ BankAmerica, the second-larg- 
est U.S. bank-holding company af- 
ter Gticwp, said additional re- 
serves for bad loans accounted for 
about 80 percent of the $338 mil- 
lion loss. Most erf the bad loans 
were to agricultural, real estate and 
shipping interests, said Samuel H. 
Armacost, BankAmerica’s presi- 
dent. 

“Six weeks ago, we said we ex- 
pected second-quarter operating 
results to be near the break-even 
point," he said in a statement, “hi 
the ensuing period, we’ve taken 
higher loan losses than we antidr 
pued at that time." 

BankAmerica said Us loan loss 
reserve had risen $527 milliou for a 
total of $L5 billion. The reserve 
ratio now totals 1.81 percent of 
total loans. 

Dick Bove, a bank analyst with 
Shearson Lehman Brothers Inc. in 
New" York,. noted that the latest 
^ orisons for bad loans arrived at 
a time when federal authorities are 
1 banks to dean up their 


| Currency Rales 


Oom Bates 


17 



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“The regulators ate giving all 
banks tougher audits,” he said. 

Mr. Bove said charges for bad 
loans could continue throughout 

1985, but that BankAmerica's posi- 
tion probably would mm around 
by next year. 

He predicted the company 
would retain the current dividend 
of 38 cents a share despite negative 
earnings, noting that it has made 
progress toward reducing 
iag expenses and its cost of 

Mr. Armacost said there was evi- 
dence, especially in June, “that 
there is agrowing weakness in im- 
portant sections of die economy 
which particularly affected our 
portfolio. 

“While the decision to increase 
the loan loss reserve is painful in 
terms of short-term results, our 
management and' board believe' 
that bolstering the reserve is a pru- 
dent course for the long-range ben- 
efit of the corporation, he said. 

But other analysts were less san- 
guine about BankAmerica's pros- 
pects. Calling the loan provisions 
“extraordinarily unexpected,” 
Robert B. Albertson of Smith Bar- 
ney Harris Upham & Co. said the 
bank’s earning power would be 
“greatly diminished" well into 

1986. 



■ At tbe VBA auction in Aabmeer, bidders consider the cartloads of fresh flowers. 

The Flowering of a Dutch Industry 


)h Fitchctt 

International Herald Tribune 

AALSMEER, Netherlands — 
The Dutch passion for flowers 
has blossomed in the past 10 
years into a global business that 
now yields about SI billion a 
year in expeyt revenues. 

Officials in the Dutch horti- 
cultural industry project export 
1985 at 3.6 bfflioa 


revenues for 
guilders ($1.1 billion), up 13 per- 
cent from 1984 and up about 260 
percent from 1975*5 1 billion 
guilders 

Two-thirds of world trade in 
cm flowers is supplied by Dutch 
horticulturists, government offi- 
cials say, and this trade is backed 
by increasfngjjy sophisticated 
technology and resourceful in- 
ternational marketing. 

The hub of the Dutch flower 
trade is the electronic auction 
hall in tins village outside Am- 
sterdam. Selling 12 million flow- 
ers a day. it is the world’s largest 
Dower market Its computerized 
operations work as smoothly as a 
conveyor bdt to get the Dowers 
to customers while they are fresh. 

Flowers, cut by hand in the 
afternoon, are auctioned the next 


morning. Most leave tbe country 
hy nightfall in refrigerated trucks 
or in prechilled boxes aboard 
KLM flights from Schiphol Air- 
port, 5 kilometers (3 miles) from 
Aalsmeer. or by train and truck. 
By the next day, they are on sale 
throughout Europe and even in 
the United States and Asia. 

Twice a week, KLM flies flow- 
ers to tbe Soviet Union. They are 
not for sale in Moscow streets, 
explained a former KLM direc- 
tor: “Tbcy are for the men in the 
Kremlin, who hke to eqjoy tbe 
best of everything.” 

Last year, the Netherlands 
sold its flowers in more than 20 
countries, bringing in 32 billion 
guilders in export revenues — np 
15 percent from 1983. The com- 
petitors — Denmark, Colombia 
and Israel ■—‘Tag along, but they 
are well back in the field," a 
Dutch official said. None at 
them has more than 10 percent 
of the world market 
Dutch horticultural industry 
officials say that the dramatic 
drop in cultivation and distribu- 
tion costs have been key to the 
expansion of tbe Dutch flower- 
export business. 


The Dutch flower industry 
sees continuing growth. “The 
boomln the bloom started in the 
1970s, and it’s like Jack’s bean- 
stalk: no end in sight,” said An- 
drfc J. Mulder, managing director 
of the Aalsmeer flower auction. 
In his view, flowers are “in the 
air or, more exactly, in our life- 
styles, especially in northern Eu- 
rope." 

As leisure lime increases and 
incomes rise, and as Dowers be- 
come available in cities at Iowa 
prices, he said, mow. urbanites 
want the glimpse of nature af- 
forded by flowers — and can 
afford them. 

West Germany remains far 
and away the best customer for 
Dutch flowers, with about a 
third of the market, but other 
European conn tries are now fast- 
er-expanding markets. 

This new popularity for flow- 
ers has barely touched the Unit- 
ed States or Japan. In tbe United 
States, for example, “distribu- 
tion of flowers is antiquated and 
expensive and promotion is 
~ Mr. Mulder said. As a 


It, he said, flowers are four or 
(Continued on Plage 27, CoL 5) 


Volcker Calls 
For Reduction in 
Budget Deficit 


By John M. Bern’ 

Washington Pan Service 
WASHINGTON — Federal Re- 
serve Chairman Paul A Volcker 
said Wednesday that the central 
bank is continuing an “accommo- 
dative" monetary policy to bolster 
the sluggish U.S. economy, but he 
warned that there are limits to what 
the Fed alone can accomplish. 

“We are dealing with a situation 
marked by gross imbalances ihai 
can neither be sustained indefinite- 
ly nor dealt with successfully by 
monetary policy alone, however 
conducted,” Mr. Volcker told a 
House subcommittee to which be 
presented the Fed’s midyear report 
on monetary policy. 

The chairman then listed six 
such unbalances: 

“We are borrowing, as a nation, 
far more than we are willing to save 
internally. 

“We are buying abroad much 
more than we are able to sell. 

“We reconcile borrowing more 
than we save and buying more than 
we sell by piling up debts abroad in 
amounts unparalleled in our histo- 
ry. 

“Our key trading partners, di- 
rectly or indirectly, have been rely- 
ing on our markets to support thar 
growth, and even so most of them 
remain mired in historically high 
levels of unemployment 
“Meanwhile, our high levels of 


consumption and employment are 
sum in the industrial base we will 


not 


matched 


expan- 


AT&T Profit Rose 1.3% in 2d Period 


The Associated Prat 

NEW YORK — American Tele- 
phone & Tdegraph Co. reported 
Wednesday that profit rose 13 per- 
cent in the second quarter on a 03- 
perceni decline in revenue from a 
year aga 

AT&T said net income for the 
three months ended June 30 totaled 
$461 million, or 41 cents a share, 
compared with $455 million, or 43 
cents a share, in the same period a 
year earlier, when there woe fewer 
shares oatstanding. 

Revenue, after deducting access 
charges paid to local telephone 
companies, came to S835 billion, 
against $838 billion in the like pe- 
riod a year earlier. . 


; -For-the first six months of -the 
year,' AT&T said, net income 
jumped 193 percent to $815 mil- 
lion, or 72 cents a share, from $682 
nnBion, or 63 cents a year earlier. 
Half-year revenue edged up to 
$1636 billion, after deducting ac- 
cess payments, compared with 
$16.77 billion. 

“We are taking those steps we 
need to take to build an ! 


performance record over the long 
pull, notwithstanding the difficult 
challenges we face in achieving our 
current financial goals," said the 
Charles L Brown, AT&T’s chair- 
man. “Our objective is to stake out 
a sustainable Leadership position in 
the business of information move- 


ment and management and that’s 
the focus of our strategies." 

During tbe latest quarter, AT&T 
introduced new business computer 
products, sales of personal comput- 
ers continued to grow despite a 
dumping market, and the company 
won a federal contract with a po- 
tential value of nearly $1 billion, 
Mr. Brown said. 

It also began developing with 
Quomm Systems Inc a computer- 
based information system for the 
financial community, it said. 

Overseas, it joined with major 
Japanese companies to provide an 
enhanced network service and 
opened its first office in the Peo- 
ple’s Republic of China. 


being nu 
in the u 

need as we restore external balance 
and service our growing external 
debt 

“And, after years of econom- 
ic expansion, too many borrowers 
at home and abroad remain under 
strain or over-extended.” 

Mr. Volcker said the change 
most needed to begin an attack on 
these problems is a substantia] re- 
duction in federal budget deficits, 
through higher taxes, preferably on 
consumption rather than income, if 
enough cuts cannot be made on the 
spending side. 

In the meantime, with economic 
growth lagging in goods-producing 
sectors and few if any ngns of high- 
er inflation ahead, the Fed has cho- 
sen to continue to accommodate 
rapidly rising demands for credit 
even though it has meant a much 
faster rise in the most closely 
watched measure of money, M-I, 
than had been intended. M-I in- 
dudes currency in circulation, trav- 
elers checks and checking deposits 
at financial institutions. 

“Taking account of current and 
likely economic developments, the 
downward pressures on commod- 
ity prices, and the high level of the 
dollar that has prevailed in the for- 
eign exchange markets, the growth 
in M-l and [total nonfinancial] 
debt has not m itself justified a 
more restrictive approach toward 
the provision of reserves to the 
banking system," he said. 

Instead, as disclosed in the mid- 
year Fed report itself released 


Dollar Takes 
Sharp Side in 
EuropeTrading 

Tbe Associated Pros 

LONDON — Jitters over the 
U.S. economy and President 
Ronald Reagan's health pushed 
the dollar Wednesday to some 
of its lowest levels in a year on 
Foreign exchange markets. 

The dollar opened broadly 
lower in the wake of an an- 
nouncement late Tuesday by 
the Federal Reserve that it was 
revising its anti-inflation 
growth targets for the basic 
U3. money supply. 

A trader in Frankfurt, West 
Germany, said the move was 
taken as a sign that the Fed 
wants io continue easing its 
monetary’ grips and push inter- 
est rates lower to stimulate tbe 
U.S. economy. Prospects of 
lower interest rates make dol- 
lar -denominated invest menu 
less attractive. 

Later in hectic trading the 
dollar lost more ground when 
false rumors circulated in Lon- 
don financial markets chat Mr. 
Reagan had died. 

In late trading Wednesday, 
the dollar declined in Paris to 
8.631 French francs from 
8.7575 francs on Tuesday. In 
Frankfurt tbe U.S. currency fell 
to 185 18 Deutsche marks From 
188 DM a day earlier, while in 
Zurich the dollar dropped to 
233 Swiss francs from 23915 
francs on Tuesday. In London 
the pound gamed to $1,412 on 
Wednesday from SI. 3885 the 
day before. 


Tuesday, central bank policy-mak- 
ers decided to incorporate the rapid 
growth of M-l in the first half of 
this year into the base from which 
its future growth will be measured. 

■ Personal Income Rises 

JaneSe 
Past i 

Americans* personal income in- 
creased 03 percent in June, but 
consumer spending continued to 
rise at a slightly faster pace, the 
Commerce Department reported 
Wednesday. 

Personal income rose S 16.8 bil- 
lion in June and personal outlays 
rose $153 billion, the department 
said. Take-home pay — personal 
income less taxes —declined 12 
percent last month because of fed- 
eral income lax refunds, which gen- 
erally are disbursed in February 
and March were delayed until 
April and May. The delay caused 
after tax income to be unusually 
large in April and May and led to 
the decline to more normal levels 
last month, the report said. 


me Seabeny of The Washington 
1 reported from Washington: 


Closings In Ltxidan and Zurich, fixings In ott»r European centers. Naw York rata at 2 PM. 
to) commercial franc (b) Amousts imdod to buy m pound <cl Amount! needed to buy** 
donor (V Units of no 1x7 Units otLSOOlri Unffs of IfllM? Alfl not ouofmd; ALA- ; nofovatkMo 
(•) Tobarom neon): HUUV 

•dMflNDarValws 

cummer nr tX&S Cottmcv nr ass Conner por USS Cctmct pm- lUt 

AnM.autrm <U» Fin. markka 640 Motor, rlna. 1AU XKor.WM KMJS 

AmtraLS L4173 OroMUfrac. 13&J0 Mk-nh 3SU» Sm/MMa 16SB0 

Motor. «m 2027 HMKMI 7-7305 NMWkTMW tJ3* M&lcrMM 0333 

Btoa.fin.fr. 5030 Indian rupee 1Z00 PULpne 1UB7 Mmt «JBB5 

bnHcna. «wnn lade. rupWi 1.11S00 PortMcuda 14400 Tlullnfet 3X745 

II 1J471 irttoic 0*191 Saotflrlrnl 1054 TwktttHra S27.15 

10.1775 icrnafitoNk. V4B4JOO Stan.* 12028 UAEUrtiani K72S 

EarpfcpwMI 07937 Kowotfl tfinar OJOOZ S. Aft-, rand ISMS V«oo*.boflv. 1420 

■ Stamna: 13783 IrtOic 

so wow; Honour do SaMfim taruamts): Sanaa Co mm srcMt ttatlana fMJton); aumtad 
Bank (Near York); Banouo NaNanam do Paris (Peris); Bank Of Tokyo nWnoJ.- IMP (SDR): 
BAII (cBnor. rtvaL dirham). Other data from Routers and AP. 


In Futures, Singapore 
Is Well Past Hong Kong 





- . . u 


-■ 9- 

. :■*!£# 
i- ha J 
■.j v\n 

• 3-, 3 

' - 

:1 ? s3 

2 Xn 

;■ 

_ r i 

: 

i 

? ij 

... * . 

i< i- 


French 

Storitofl Franc 

UUnUM 9 *-10 
1US-12 


DOUBT D4MX* 

7*6-7* 5 Mr-5 P. 4IH 

740-7* S Hr5 * 4 ¥rS Hi 

7^7* 4 iV-dliV 1140-11* WVM0OW 

7*0-7* 5 0-s*. 5*4* n vy-11* niwy* 

700-7*. 5 fcr-4h 510-5* lltt-ino loth-no 


ecu sdr 
100-8*0 700 . 
W 10-10 H, B*w4*0 3 %. 

8*04 700 

80W4K. 7* 
910410 ^ 


Soenms: Morgan Guaranty (dollar. DM. SF. Pound. FFl: UOYfta Bank (ECU)/ Reuters 
tSORK Rates opnUcaUte to mmrtonn deposits ot SI million minimum (or nout volant). 


fcey JH—gy Bate* J*fy n 



ante- Loot Rtoa 
(*OPwMM79«m 
*— to OTnawnfUbi 
*««ftTwtsrT fill!* 
ctnjMtdm 
COv 4MT dare 


aw PTW. 

7vs no 
no 7* 
*io no 
HOW MM* 
74# 7 SS 

4JT ur 
US 759 
W5 7* 
7JB 7J9 


Ltatowd fUdr 


Ona «*Bto> nmtt 
feinn tdatad 


UC 

sSS 

SM 

MO 


UP 

£25 

MO 

MO 


Ctol Mom* 
ftdprMbtMk 


4 J/U 4* 
45/16 45/14 


Sources; (toufm Commenbank. ChdU 
imnois,Uords Bonk. Bonk oITtdtYO. 


Aflftoui Dollar DcfMMita 

Jafyl7 

-liwnn 700-700 

lineMtB 700-7*0 

7 mourns 7*0-790 

i month* 7 *0-7*0 

l rear nfa-8* 

Source; Rauton. 


(JJSL MMeyMarketFutfs 

Jofyl7 

Mormi Lncb Roodr Assets 
M day owa« rWd: £70 

Ttoarnte Intoreto Rat* lpd«: NA 


By Dinah Lee 

Tmendutona l Herald Tribune 

HONG KONG — 
has gained & large lead over 
Kong in those cities' race to 
come tbe primary financial-futures 
market of Asia, according to tbe 
president of the Chicago Mercan- 
tile Exchange, William J. Brodsky. 

Both Singapore and Hong Kong 
sought to open trading in financial 
futures last year. In tortember, the 
Singapore Monetary Exchange, or 
Simex, successfully began trading 
in an overni|ht link with the Chica- 
go Mercantile Exchange under a 
“mutual offset system" allowing 
traders in either exchange to dose 
positions in tbe other. 

Meanwhile, legislative delays 
have kept the former Hong Kong 
Commodity Exchange from being 
reorganized into a futures ex- 
change. 

SSmex is now trading in Eurodol- 
lar, Deutsche mark and yen con- 
tracts, with the least sucossful, ac- 


* 40. 1 . ■ ■ 

545 

US 

Source: Morrill Lmdi AP 


f me 








>iniiu(niun 
Cea Money 
Okwnoott lUrtonk 

»* Wk 

9k 915/14 
915/16 915/14 

I 

[~ 

Gold 

_l 

*whBi tetsrkaek 

78 

HVU 

81*- 






somumomi 

hams 

ft 

Tra 

1 




Mr n 

link low ROM 

19 

n 



AM. 

PM 

cm 


NA. 

1248 

Ham Kona 

ms 

mw 

+ 3JR 

ntonTHmonflO 


lm 

ummlMur* 

32030 

— 

+'430 

Hasan WatHk 

- 

lift 

nmmsuiii sms 

! ZSrtai 21945 

SUM 

3K5D 

+4 J5 
+ 425 

4=a 

Wtotomf Rolo 



l 

xmdoa 

3ZUB 

32540 

+105 

S 

4 

\ Hew York 

— 


+130 


Luxombauru. ports and London official fix- 
lavs; Hong Koag and Zurich opening end 
ckmhm Prices,- Mow York Comex current 
contract. All orkas in US. S Per out**. 
Source; Reuters. 


Egypt to Cut 

Crwle-Ott Prices 


CAIRO ^ — Egypt will cut the 
prices of its etude oil by about 
$130 a barrel for all blends in 
July, an official of Egyptian 
General Petroleum Corp. said 
Wednesday. He did not specify 
the exact reduction. 

Asked about reports from 
U.S, spot oQ traders that they 
had been notified that Egypt 
had cut the prices by $130 a 
barrel, be said, “Officially 
prices are not out yet, but there 
util be a reduction within that 


sets prices mtmthly af- 
ter a market review. Egypt ex- 
ports about a third of its crude- 
oil production, running at 
about 850,000 barrels a day. 


cording to Mr. Brodsky, being yen 
contacts. He said Monday tint Si- 
root already is trading 3,000 con- 
tracts a day, with about a third 
originating in the United States. 

Although some finnncial ana- 
lysis in Hong Kong speculate that 
its larger financial community of 
banks and brokers will enable it to 
eclipse Singapore once futures 
trading sets underway in Hong 
Kong, Mr. Brodsky did not agree. 

“A lot of it relates to who gets 
there first and who creates the li- 
quidity," he said. “I don’t think 
geography is the key" because 
“whether you're in Tokyo, Singa- 
pore or Hong Kong if you want to 
trade a Eurodollar contract you 
don't care where it is; it's the same 

phnns cal" 

Whether Singap ore maintains its 
edge depends on whether another 
exchange comes up with greater 
he said. 

mg already has chosen, 
once trading begins, not to com- 
pete with Singapore in terms of 
contracts to be offered. The first 
contract probably win be a Hang 
Seng Index futures contract, with 
which traders can hedge (heir expo- 
sure to the volatile Hong Kong 
stock market 

Simex has announced that it 
in the first half of 1986, to 
a contract on the Nikkei aver- 
age, a composite of 225 securities 
trading on the Tokyo Stock Ex- 
change. Mr. Brodsky said that 
Asian interest in the trading of 
eqmty-index futures came from the 
success erf Chicago’s index contract 
based en tire index by Standard & 
Poor’s Coqj. 

The assistant rice president of 
the Hong Kong Futures Exchange, 
John Ng, said Monday that once 
the government's legislative coun- 
cil has passed the necessary laws 
lata: this month there would be no 
further barriers to beginning fu- 
tures trading 0 d that exchange. 

He said that trading probably 
would b^in in late October, a year 
later than first scheduled. , 


All of these securities having been sold, this announcement appears as a matter ol record only. 


New Issue / July, 1965 


$500,000,000 


International Business Machines Corporation 


1014% Debentures Due 2015 


Salomon Brothers Inc 


Merrill Lynch Capital Markets 


The First Boston Corporation 


Deutsche Bank Capital Goldman, Sachs & Co. Morgan Stanley & Co. 

Corporation lacoiporalatl 

Nomura Securities International, Inc. Swiss Bank Corporation International 

SKarteu Ins- 





Page 14 





























































5 


,g V 

,J; 'ft 

^ '*S' 


i 4’ 1 
■fe 3h 

. 27 ■'» 

£*'? 
.;* :■ 
i; *i i 
15 " * 

, .r* >. 

%$: 

' <r ‘ ,.’■ r 


S s-i 


Storer for $2.1 Billion 


By John Crudelc 

New York Tunes Service - 

NEW YORK — Ending weeks 
of rumor, Comcast Corp. has of* 
feted to nay about $2.1 billion for 
Storer Communications Inc., 
winch is going private through a 
leveraged buyout. 

Comcast, based in Bala-Cyo- 
wyd, Pennsylvania, is the lfith-Iarg-- 
est cable television operator in the 
United Stales. Storer, based in Mi- 
ami, is the fourth largest. 

Comcast announced Tuesday 
that it would pay 582 a share in 
cash pins 1-2 shares of preferred 
stock in the surviving company. It 
offered 1.2 warrants for each of 
Storcr’s 21.2 milli on shares out- 
standing on a fully diluted baas. 

Sources familiar with the pro- 
posal said Comcast miniated the 
worth of its offer at between $96 
and STOO a share. The offer was 
announced after the dose of the 
New York Stock Exchange, bnt in 
trading elsewhere on Tuesday 
Storer rose 51.75, to 584. Comcast 
dosed Tuesday at $20.75 on the 
over-the-counter market, up 25 
cents. 

After showing some reluctance. 
Stare's management in April had 
accepted a Slit-biHion acquisition 
offer pul together by Kohl berg. 
Kravis, Robots & Co., the Wau 
Street investment house that spe- 
cializes in leveraged buyouts. 


Under the KoUberg agreement, 
which won the backing of Starer’s 
directors in May, shareholders 
would receive S75 in aril and S25 
face value in preference stock to 
each of the 212 million shares. 
That offer is estimated to be worth 
about 585 a share by Wall Street 
analysts 

Comcast’s bid comes at a lime 
when the cable industry’s prospects 
are promising. Many of the costly 
major urban franchises already 
have been built, and deregulation 
will allow operators to raise the 
prices they charge subscribers. 

Comcast, which serves 490.000 
subscribers ami recently won fran- 
chises for another 60,000, is consid- 
ered to be one of the best-run cable 

companies in the country. 

It said that Merrill Lynch & Co., 
the largest US. broker, would pro- 
vide SK2 Nil ion toward the trans- 
action. Comcast said it would pro- 
vide $200 million of its own funds, 
with another 5900 million coming 
from die Bank of Montreal 

Sources on Wall Sum said that 
Comcast probably would seek im- 
mediately to sell Store's seven tele- 
vision stations if the transaction 
went through, hoping to get 5800 
mini on to help pay off the financ- 
ing. 

Storer officials declined to com- 
ment on the bid because they had 
not yet received the fo rmal offer. 


Debenhams Says 
New Burton Bid 
Is Inadequate 

Ream 

LONDON — A revised 
£583-m31ion (S82Q-million) of- 
fer for the Debenhams depart- 
ment store chain was rejected 
Wednesday after it was made 
by Burton Group PLC, a cloth- 
ing retailer. 

Debenhams said the offer; 
valued at 345 pence per onfi- 
oary share when adjusted to 
capitalization, ignored the com- 
pany’s record increases in prof- 
it, earnings and dividend per 
share, as weQ as its prospects 
for continued growth. 

In May, Debenhams rejected 
a £455-xnaiion bid from Burton 

as TnaHwqnaffc. The rJiairm an of 
Debenhams, Robert Thornton, 
said then that the group would 
fight any hostile take over with a 
counter-bid exceeding £600 

miTTi nn. 

Burton said Wednesday’s of- 
fer would be its last unless an- 
other bidder entered the field, 
la that case; it said it would 
reserve the right 10 raise its offer 
again. 

Debenhams. which indudes 
the Hanley toy shops and Har- 
vey Nichols department stores, 
recorded a record pretax profit 
of £40.7 minim in 1984. It is 
predicting £60 million in pretax 
profits this year. 


Earnings 

Revenue and profits. In millions, are In local currencies 
unless otherwise Indicated. 


United States* 
Amer. Electric Pwr 
aid owr. ins in* 

rmow i.Ma l.na. 

Nat Infc, »44 STBS 

Pm- Shore 047 053 

Cincinnati MlUcroa 
and aw. ms iso* 

Rnvenua 171* 1504 

Nat Inc. 1.19 U4 

Par Shura DOS 014 

WHOM WSS IVM 

Rwanu* mi 3104 

Net Inc. 671 5.13 

Par Shore 020 023 

1984 nef bath periods Includes 
gain at su million from ro- 
auction of US. pension mx- 


Contlnentol Illinois 
lad Qoar. ins in* 

Net Inc. 37.3laH.15B 

Per Store — 013 — 

1st Half IMS 1«M 

ml inc. 764(a) U» 

Per Share — 037 — 

a: lass. IW4 net reflects earn- 
km of Continental Illinois 
Carpi, as reported hr stan- 
dard and PaarbL 

Caoeer Tire & Rubber 
2M Quar. WS5 1M4 


Revenue 1303 1474 

Net lnc. - 4 M 6.43 

Per Store 044 0*4 

1st Half IMS lfS4 

Revenue __ Moi 2814 

Net Inc. 117 104 

Per Share 083 UM 

Crown Cork & Seal 
M Quar. IMS 1*M 
R e venue _ 4009 3717 

Net lnc. 2145 17.92 

Per Store — MI M7 
to HaM INS IN* 

Revenue 724.1 W3.1 

Net Inc — — 3424 204 

Per Store — 3.11 138 

DaaaCarp 

2nd Soar. IMS WJH 

Rwanuo — 97131 eKffl 

Net inc. «54 4S« 

Par Share — OH an 

HtHau ms net 

nevenu* 1.920 W 58. 

Net lnc *44 *44 

Per Store — 147 147 

Federal Express 
•nnoear. INS 1984 

Revenue 5917. flU 

mt Inc 419 2049 

Per Stare — 0*9 041 

Year ms 19H 

Revenue 2430. 1440 

Met Inc 7608 11543 

Per Store — 141 052 

I9SS quarter not lactates rev*- 
anus bf V million from ship- 
ments handled In prior quar- 
ters 


First Boston 
2m0 Qoar. 19S5 1*84 

Revenue 2*34 014 

N«t lnc 444 17.1 

Per Store — 147 0*4 

lit HOH INS 1M4 

Revenue 4542 3*04 

mt Inc 709 374 

Per Store — £25 IJP 

First Florida Bits 
tod Qoar. ms 19M 

owr Met 114 M 

Oner Store- 073 044 

lit Halt IMS IN* 

Oner Net 314 IBS 

Oper Share— U7 121 

1915 not both periods ex- 
cludes gain of SIS million 
front safe. 

Fst Pennsylvania 
tod Qoar. INS 19M 

Met lnc 6J8 &30 

Per Store OSS Oil 

1st Half INS 19*4 

Net lnc 135 13.1 

Per Store 012 022 


FMC 

2nd Quar. ’ INS IM4 

Revenue 1*63 1801 

Nel Inc — 565 644 

Per Store 2 09 1J1 

let HUH 19B5 . 1984 

Revenue 1440- 1741 

Net Inc 905 1073 

Per Stores. X7B 3.17 

1984 results restated for dis- 
continued operations. 1964 
net Includes losses of StT mil- 
lion m quarter and M4 mo- 
tion in hatf. 

General Signal 
2nd Qoar. 198S 198* 

Revenue _ 4*43 4404 

Net inc 2541 2S47 

Per Store— 0-90 ON 


Great AtL & Pacific 
1st Qoar. H8S INI 

Revenue I.MOl 1720. 

Oper Nat 1672 ll_® 

Oper Store.. 044 EDO 

1995 net excludes credit of 510 
million m ssjSmtHhn from 
tax loss carryforward. 1994 
net excludes pension credit of 
STSSmllUaa. 

Great Ttrltin- Nekoosa 

MOvar. IMS 1994 

Ravenna 4804 4777 

Net lnc 124 35.5 

Per Store— 049 175 

111 Halt 19BS IN* 

Revenue 9708 9364 

Net Inc 263 &4J 

Per Store IjOO 249 

JtOSnet Includes tax credit af 
S4 million in heH and SO mil- 
lion In 1904 holf net. 


MQwr. 190S 198T 

Revenue 1910. 0620 

Net Inc 2S5.ll 2830 

Par Store 133 141 

I tlHalf me HH 

Revenue 7560 7770 

Net Inc £503 5947 

par Stare 2*3 100 

Hoiloman G. Brewing 
Skd Quar. IMS 1(84 

Revenue—. 3*7.* 3747 

Net Inc — 1874 17J17 

Per Store— . 871 0*4 

1st Half INS 11*4 

Revenue—. 6769 6*30 

Net Inc - 2194 2735 

Per Share. 091 103 

Milfoil Hotels 
2nd Quar. MBS 198* 

Revenue 1857 7734 

Net Inc _ — 274 2443 


Uf Half 
Revenue — 
Hot lnc — 
Per Store- 


ms 1984 

9114 895.1 

5145 5015 

140 17* 


Per Store l.H 092 

IN Halt IW 1984 

Revenue SBJ 9 3374 

Net lnc— S1JB 43*8 
Per Store — us 143 


ut Half 
Revenue _ 
Net Inc _ 
Per Store. 


Golden west Fin. 
tod Quar. ms 19M 

Mol inc 3*1 193 

Per Share— 173 093 

1 U HaH INS 198 * 

Net lnc 619 409 

Per Share— IN IN 

Grainger (W.WJ 
Had poor. ms net 

Revenue 2944 2*74 

Net Inc 189 183 

Per Share— 045 043 

1 st HaH ‘ ms 1984 

Revenue 5564 526 8 

Nel Inc 317 32 3 

Per Store — 1.16 1-81 

list share results adlust- 
adto reflect Htxrt stoat sent 
In tno form ai a stock cOW- 
Oend June 7. IRK 


19B5 not fndudes gain of ftvo 
amts per store an property 
tran s actions. 19S4 not In- 
etudes toss of too cents pot 
store an property transac- 
tions. 


WOW. .»« W 

Revenue 1330. 

0P«r Net— S24 797 

Oper Stare— 1.14 170 

1st Half IMS 19M 

Revenue 2400. 2400 

Oper Nel 987 1247 

Oner Store— 114 24* 

Han. Co America 
UdQaar. W tt m* 

Revenue 13W. 1X40 

Nel lnc 9243 7331 

Per Store 142 084 


High Stakes, 
Cold Hands 

(Continued from Page 13) 
least” he is buying the airlines, fa- 
voring Northwest, Delta, United, 
U&Air and Piedmont. 

Pru-Bache’s Mr. FraenkeL, while 
optimistic toward Wall Street be- 
cause stocks do not neressarily 
need an environment of rising com- 
pany earnings to push them higher 
— ‘There was uo profit growth to 
speak of in the la le- middle 1920s." 
he said, “bnt the stock market went 
wild" — still thinks earnings fore- 
casts are overblown, now that dis- 
inflation is the keynote. 

“Most analysts on Wall Street 
are predicting a 10 to IS percent 
annual gain' for corporate earnings 
over ibe next five years," he said. 
There are very few companies that 
are going to grow that much." 

Ire makes the paint that the 
“worst stocks are having an explo - 1 
fion” in price-earnings ratios, even ! 
though their prices on Wall Street : 
are going down “because their 
eamings are going down' even fast- 
er." 

“As the lower interest rate envi- 
ronment continues' to evolve, the 
P/Es on the pans of the market 
that actually deliver consistent and 
rapid growth will move up much 
faster than they have so far — sim- 
ply to catch up." 

Mr. FracnkeTs favorite sector is 
consumer products and services. 
Heahh care and speciality retailing 
ftp his list, but he also likes the 
airlines and defense stocks. 

Richard Russell, editor of Dow 
Theory Letters, noted that he re- 
cently received an offer to buy 
shares in a macadamia nut orchard 
in Hawaii 

T don't know anything about 
merchandizing macadamia nuts so 
1 tossed the material into the waste- 
basfcet," he said. “For over a quar- 
ter of a century I’ve beat telling my 
readers to do roughly the same 
thing. If you don't understand it, if 
you can’t com p rehend it, if it smdls 
fishy or if it's out of your sphere of 
knowledge or if it sounds too good 
to be true, then forget about it It's 
probably going to cost you mon- 
ey." 


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MINHUJM US$12,000 INVESTMENT 


To: Trans Container Marketing AG 
Geitertstrasse 18. 0+4052 Basel, Switzerland. 
Please send me full details without obligation 


IO.OCK CAP1WLSI 
ADDRESS: 


Philips Predicts Decrease 
In Profits for 2d Quarter 

Rentas Stales reflected the general trend 

AMSTERDAM — Philips NV on the microchip market there and 
said Wednesday that it expected not any special factors affecting 
results in the second quarter to be Philips’s u.S. operations, the 
appreciably lower than in the sec- spokesman said, 
ond i984 quattCT when it had a net h ^ fuSl qaa ner. Philips had 

profit of 262 mubon guilders (580 ^ profits of 260 million guilders, a 


million). 


7.8-percent decrease from 282 mil- 


PMhps sad the setback was lion in the first three months of 
mainly the result of unfavorable l9S4 . Sales increased 7 percent in 
developments m the semiconductor fa quarter w 13-6 g billion mi]- 
market in the United States, in ^ers 
which its ffMdian, Siraetics . ^ bowe 

Coi^i& a supplier. APhi^s electronics maker, previously re- 
spokesman declined to give any fig- — improvement in 


wnion ns bome 

Coi^is a surlier. APhi^s electronics maker, previously re- 

P 011 ® 1 a steady improvement in 
ures on the expected decrease m fe^^ ^ 1934 net totaling L.ll 

^company’s statement said ^ as against 667 mfl- 
there hadb«i some Tmprovemwt ^ attributed the 

iss^tiSfe 

fe^m a ^oi? adeCUM Wednesday's statement said 
Hnit«i Phfiips continued to expect a 7- 
ITre poor results m the United percStLncr^ in sales vSume for 

1985 over 1984. when its sales to- 
PpatiI r* Tj 1 •yTny cc Got taled 53.80 billion guilder s, up 10 

reopie impress oei pefCenl m lenns froin i9 83 . 

r» The fulfiUmcnt of a March fore- 

M- Or O JjlOjJPt!/ Vjnes cast ol higher profit for the group 
New York Times Service “ 1985 would depend on the eCO- 

vpni vnoir d«*i- nonuc situauon m the United 

. YORK — People Express Sutaintbe hall of 1983, 


Lufthansa Says 
It Expects Profits 
To Decline in'85 

Reuters 

COLOGNE — Deutsche , 
Lufthansa AG s^d Wednesday 
it expects profits to fall in 1985 
after nel profit more than dou- 
bled in 1984, to 162 million 
Deutsche marks (S56J2 million 
al the present rate). 

Heinz Ruhnau, managing 
board chairman of ibe airline, 
which is 74 percent government 
owned, told the annual meeting 
that slowing world trade, an an- 
ticipated drop in the dollar and 
fierce competition on the most 
important intercontinental 
routes were to blame for Ibe 
lower than expected profit. 

He did not make a detailed 
forecast for 1985, but said all 
divisions a gain would be profit- 
able. He said the airline expect- 
ed an increase in both passen- 
gers, to more than 16 million, 
and freight. 

Mr. Ruhnau said Lufthansa 
paid a 330-DM dividend, un- 
changed from 1984, because it 
wanted to Ik able to finance the 
airline’s investments, expected 
to total U billion DM in 1985. 


*8 ,4 fS- 

Hou st on Industries 
2nd Otar. 1N5 IfM 

Revenue Una. 1 . 0 * 0 . 

Nel lnc. lam 763 

Per Store— LM Ml 

Hatton CEJ=J Grow 
UdQaar. 1995 WH 

Revenue MU ,5*M 

Nef inc. — 21U (a!7X 

Per Store — . OW — 

JNHett MB IN* 

Revenue U520. 1,140. 

Net inc. 49.18 HJ 

Per Store— 1X4 031- 

0.” to 6ft. 

IC Industries 
tod Qoar. MS 1984 

Revenue 1.150. 9729 

Oner Net 317 303 

Onar Share— 042 071 

1*1 HaH INS IN* 

Reuanue 2310 1480. 

oper Nat 574 484 

Oner Share— 1X9 tit 
IMS net exetudes oak, oiSJJ 
motion vs loss ofSSuoo kt 
quarter ond losses of S14 mil- 
lion vo SIS million In halt 
from discontinued opera- 
tions. 

Insllco 

2nd Qear. INS 19M 

tot inc Hua 1001 

per State — 058 055 

IN Half - 1905 INI 

tot lnc — 1657 166 

Per share— ow . o» 

Ubtoy-Owem-Ford 

«»•- B B 

tot lnc 2142 1936 

Per Shore — 1X9 150 


Airlines Inc. says it nifl begin ser- 

vice from its Newark base to Alba- j 

Police Probe Johnson Matthey Bankers 

will be the discount-fare airline's _ , 

largest expansion in three years. Associated Press ny seriously overextended itself. He 

'Hie service to Atlanta, tne home LONDON — Police are investi- said the latest estimate of its losses 
of Ddia Air Lines, and Dallas, gating possible fraud in the col- totaled £248 million (S347 million), 
base of American Airlines, marks lapselast year of Johnson Matthey The bank Wednesday called in 
another foray into highly competi- Bankers LuL, one of Britain’s big- Owen Kelly, the London police 
tive routes for People Express, gest gold dealers, the government commissioner, to conduct a prelim- 
which in its early years specialized, announced Wednesday. inary inquiry, Mr. Lawson said, 

in serving smaller dries. Nigd Lawson, c h ancel l or oT the His findings will be submitted to 

A spokesman said Tuesday that exchequer, said that “serious, unex- Sir Thomas Hetherington, director 
there would be three round-trip plained gaps'* had been found in of public prosecutions, 
flights daily to each city. Service the bank's records, although so far — n . . - 
from Newark to Montreal, at a $29 there was no conclusive evidence of 

one-way fare, will beginSaturday. fraud. Johnson Matthev in Ociober 1984 

Flights to Atlanta and Dallas begin . Among the documents that pos- rS comr 

i cao i era mcraal lending. The rescue was 


Adelaide Steamship Co. has been 
given a seven-day extension of its 
bid for 44 percent of Wormald In- 
ternational Ltd. Hartford (Fair- 
field) Piy., an Adelaide unit, last 
week raised its bid 40 cents, to 3.90 
Australian dollars (52.76), a share. 
The offer was to close Wednesday. 

Affis-Chafanent Omul, a former 
giant in the fanzt-fool and heavy- 
cquipmeni business, has asked the 
Federal Pension Benefit Guaranty 
Corp- for authority to end pensions 
for 8,600 employees and retirees 
and for the agency to assume 
ihem.The company said it had a 
pension liability of $173 million. 

Charter Consolidated PLC re- 
ported that pretax profit for the 
year ending in March was £16.52 
million (S23 million), a 55-percent 
decrease from £37.01 milli on ibe 
year before. 

Frontier Airlines’ directors have 
approved an employee offer to buy 
the Denver- based carrier. Undo 1 an 
agreement with rour of Frontier’s 
five unions, holders of the compa- 
ny's 12.4 million outstanding 
shares will be paid $17 per share, 
and the unions are to own at least 
80 percent through an employee 
stock-ownership plan. 

General Motors Corp. will in- 
crease prices more than 3 percent 
on several N-body compact cars for 
the 1986 model year. The move led 
analysis to predict that GM will 
raise prices on the rest of its passen- 


ger cars by an average of 3 percent 
this fall. 

HeOenfe Industrial Development 
Bank, Greece's state-owned devel- 
opment hanis has agreed to pur- 
chase a shipyard near Athens 
owned by Stavros Niarcbos. for 
513 million. The yard closed in 
April after more than $40 million 
im losses in the past four years, 
leaving 4 .S00 workers unemployed. 

Matsushita Electric Industrial 
Co. will consider production of vid- 
eo-tape recorders in the United 
States in view of Japanese- U.S. 
trade frictions. Matsushita pro- 
jects exporting about 4.6 million 
VTRs to the United States, ac- 
counting for 60 percent of its total 
shipments, in 1985-86. 

MGM-UA Entertainment Co. is 
“seriously exploring" a plan to spin 
off its United Artists movie subsid- 
iary to its public shareholders for 
$10 a share, or a total of about $500 
million. 

National Sted Corp. will spend 
$200 million to equip its Great 
Lakes Division near Detroit with a 
second continuous slab caster and 
related equipment. 

Rothmans Holdings Ltd. has 92.S 
permit of the 13.91 million issued 
shares in Allen’s Confectionery 
Lid., bought at 4 Australian dollars 
(S2.S4) to 4.70 a share, and will 
compulsorily acquire ordinary 
shares it does not bold by the close 
of its takeover offer Aug. 2. 


7, at fares of 529 to both. 


begin Aug. 


subject of large losses,” Mr. Law- 


mark eL 


American said it bad not decided son told the House of Commons. Johnson Matthey is one of the 
tether to man* the fares to Dal- He told the house June 20 that London bullion houses that jointly 


whether to match the fares to Dal- He told tl 
las. Delta said it would begin offer- the ban kin; 
ing $98 one-way fares for a limited branch of J< 
number of seals to Atlanta. had collapse 


ld-tradinj! 


had collapsed because the compa- wide. 


deride the twice-daily fixing, which 
is taken as a gold indicator world- 


U.S. $175,000,000 

National Westminster 
Finance B.V.A 

(Incorporated in The Netherlands with limited liabthtyi 

Guaranteed Floating Rate Capital 
Notes 1991 

In accordance with the provisions of the Notes, 
notice is hereby given that for the six months 
interest period from 18 July. 1985 to 21 January, 
1986 the Notes will cany an interest Rate of 
SVi6% per annum. The Interest payable on the 
relevant interest payment date, 21 January. 1986 
against Coupon No. 9 wilt be U.S. 5215.89. 

By The Chase Manhattan Bank, N.A., London 
Agent Bank 


1988 0*4 

*324 *0*4 

40X1 3775 

ITS 2X5 


Uet after paymen t of pre- 
ferred dMdeadi. 

LUIV {Eli) 

tori Qwr. 0*5 IN* 

Rntnut 7S6S 723.* 

Nd lnc. 11M U*a 

P*r Store — 157 14* 

Kt Hoff MB WB9 

Revenue __ 1470. 1430- 

ket lnc. 27UJ 2M> 

Per Store — 344 34* 

Lukfirn 

2nd Qoar. 19*5 19M 

Revenua 1114 11<0 

Mt lnc. 1-0* X1T 

Per Store — 031 040 

1st HaH 19SS 1984 

Revenue 2123 205X 

Nat >nc_ £ 06 b.m 

For Star* — U* ail 


Briton — 

BritoiFs^ 

gas reserves 

could fill 

1,000,000,000,000 

of these 

And thtVne expanding. 


Not surprisingly, Brltoi! is best known for oil. 

But gas exploration and production is also a major 
part of its business. At present it has some 900 billion 
cubic feet of gas in reserve. Enough to fill a million 
million balloons. A large number indeed. But then ail 
Britoil's figures are on the large side. 

Fill in the coupon and find out just how large. 


Please send me more information about Britoil and reserve my copy 
of the Offer For Sale document, without obligation. 


Address 


1 P°«£2dS ■■ ■■ 

I Send cot Britoil pic, P.O. Box 5000, 

^Bristol, BS99 1GB. England. |#| |%\#|| 


SOON, THE REMAINING 49% OF BRITOIL SHARES ARE TO BE OFFERED FOR SALE. 


Issued by Lazard Brothers & Co., Limited on behalf of H.M. Government. 













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INTERNATIONAL POSITIONS 


PERSONAL ASSISTANT 
Extensive Travel 

Prestigious California, U.S.A executive will interview 
applicants in Paris and London to fill the position of 
his Personal Assistant. $50,000 dollar annual salary 
plus benefits and bonus. Extensive world travel, 
including four months per year in France and Italy. 
Applicants must have superior secretarial skills, a 
good knowledge of art and antiques and ability to 
manage hectic business and social functions 
precisely. Fluency in English, French and Italian is 
required. A university degree is prefered. Personal 
appearance is important age? 35-45. 

Please send extensive resume and two color _photo- 
graphs to: ATTEN: DS 

P.O. Box 6471 9 
Los Angeles, CA, U.S.A 
90064 


limlb^SSribunc. 


The International 
Herald Tribune 
is looking for an 

Advertising Manager 
Asia/ticific 

To motivate aid coordinate the IHT s 
advertising sales operation throughout the Pacific 
basin. The position is based in Hong Kong and - 
reports directly to the Managing Director Asia/Padfic. 
The successful candidate will have advertising sales 
experience, preferably creo-wide, at a supervisory 
level. Salary/benefrt package negotiable in 
accordance with experience. 

Write: Mr. Rolf D. Kranepuh! 

Director of Advertising Sales 
International Herald Tribune 
181 Avenue Chariesde-GauBe 
92521 Neuilly Gedex, Franoe. 


MARKETING 

MANAGER 

Litton Aero Products, internationally recognized as 
the industry leader in commercial navigation and 
guidance systems has an immediate opportunity 
fora Marketing Managertobe responsible for sates 
of commercial aircraft navigation equipment to var- 
ious commercial and government agencies in the 
Asia Pacific region including Japan. Korea and 
China. This position is based in Hong Kong and 
may include limited office management responsi- 
bilities. 

Background and experience should include avio- 
nics, sales experience to airlines, airframes and 
government agencies. Educational background 
should include a technical/business undergraduate 
degree with emphasis in marketing and a working 
technical knowledge of avionic equipment 

Litton offers an excellent salary and benefits pack- 
age. For immediate consideration, please send your 
resume gpd salary history in confidence to: Litton 
Aero Products, Attn: Jonathan Webb, DepL HKM, 
6101 Condor Drive, Moorpark, CA 93021. 


m 


I n Aero Products 

Litton 

Where Technological Advances Take Right 


is looking for a 

EUROPEAN 

SALES AND MARKETING MANAGER 

OP sells spring and fall lines of "California life style” 
garments for young men to specialist beach/board sail shops, 
better sporting goods stores, trend-setting young men's shops 
and major department stores throughout Europe, via sales 
agents or, in Italy and Scandinavia, distributors. 

We would like to find a dynamic European who is an 
experienced sale* manager on a multinational basis, who 
knows textiles, who understands our particular life-style 
orientation and who speaks several languages, including 
English well. This is a very senior and important executive 
position in our young group, with a major responsibility for 
achieving our very agressive sales objectives. 

The post is located at European headquarters West 
of London, but extensive travel is required. Salary, 
incentive bonus and car will be very attractive. 

Please send detailed C K, with salary history, to: 

Mr. Lawrence W. Hampton, Managing Director 
Ocean Pacific Europe 

97-107 Uxbridge Road, Ealing, London W5 5TL 
England. 




PARIS 


GRANDE RANQUE INTERNATIONALE 


wous §tes Cadre sup&rieur dans une 
sodefe do nogoco ou commerce 
International et vous avez consacre 
vos sept a dix dem lores armees d 
rimport/expcs+de matures premieres 
ou merchandises diverses 
Vous avez' ndgocte les financements 
avec des banques Internationales et 
acquis une soffde connaissance des 
marches par de nombreux voyages 
ou scours hors de Franca 


wous partez anglais et certalnement 
une ou deux a litres longues etran- 
gdres et vous souhaitez a ce stade 
integrer un groupe financier de tout 
premier plan ou vous pounez elargir 
ia panoplie de vos cormalssances et 
apporter votre experience profession- 
nelle au sein dune direction de 
commerce international en plelne 
expansion. 


Adressez Votre C.V. photo sous reference 9631 d Media-System. 
2 rue de la Too f- des- Dames, 75009 Paris qui transmettra. 






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Major Fortune 200 computer company has immediate European openings in its Government organization for: 

Senior Sales and Account Management Positions 
Technical Consulting, Support and Marketing Positions 

These positions are in West Germany. Qualified candidates should have the following background: 

• Knowledge of U.S. Government organization, procedures and solution requirements plus the 
ability to think at a conceptualization level; 

• Knowledge of technology and its application in the Government marketplace in one or more 
of the following areas: 

— technical sales solutions, 

— communications and networking, 

— data processing and data management applications; 

• Previous experience in the computer industry is highly desirable; 

6 The sales positions require previous successful computer sales experience; 

• Degree in a technical and/or marketing discipline or equivalent; 

• English native language required with a working knowledge of German desirable; 

6 Some positions require the ability to qualify for U.5. security clearances. 

Please respond with current resume, position and residence, quoting reference number 601/65, to: 

KLW, Untomehmens- und Personal be ratung GmbH, 

Kaiser- Friedrich- Promenade 101, D-638tf Bad Hamburg v.d.H. Phone: 06172/28011. 




XL Data 9S I TV. 13 13ft +1 

XaMC M2 3 n. n + ft 

Xlcor 373 BN 8ft Bt% + fa 

XkttX 140314 134. ITN 

YknrFt LOO 23 134543ft 41L 4M +11% 
VortcFd tM) 3J 310% IB% 10% 


Zatmitf 

ZvnLbs 

ZanNU M U 

zmec 

Zleslw Mo 4J1 
ZhxiUt 136 33 
ZJltl 
nwi 

Zondvn Ml 3 
Zyond 

2 wo 


3'4 3V1 + fa 

Mi 

IV 1VU + Hi 
21+ 2Vi — fa 
12 12—4. 

30 3Bfa + fa 
Zft 2%. + fa 
5fa Sft — ft 
10ft lOfa 
12U, im + w 
I tft — '4 





INTERNATIONAL POSITIONS 


NCMS a leading catering and 
maintenance company has opening for 
the following challenging positions 


SSESTANT 

DIVISION MANAGER 

,- Candidate must be minimum 30 years of 
age 

- Ruent Arabic and English, French will be 
an asset 

- MBA holder or equivalent 

- Candidate should have a minimum of 5 
years experience at senior management 
level with a proven record of success. 


s 


’• CY-V*— -*■'? '•-■ v.y 

ts&mmss 



International 
Eutectic +Castolln 
Institute offers career 
opportunities for 
dynamic young 
engineers. 

We are part of a leading multi- 
national group serving industry 
around the world with a full range 
of products and services desgned to 
keep industrial parts and equipment 
in peak condition. Our Institute 
is recognized worldwide as a 
leader In advanced maintenance 
technology through our unique 
E+C TeroLogy® concept 

Challenging positions 
across Europe In 
Application Development 

Our companies are seeking to 
fill a number of newly established 
positions in six of our major Euro- 
pean branches - Germany. France, 
the U.K., Switzerland. Austria and 


Belgium. We are looking for young 
qualified graduate engineers, prefer- 
ably with business qualifications. 

The ideal applicants will be pro- 
gressive engineers with qualities of 
ambition and creativity. Candidates 
will serve a growing international 
marketing and sales organization. 
They will be trained to be ready to 
meet top level management to help 
expand the opportunities for effi- 
ciency and savings in a broad range 
of industries thanks to our unique 
services. 

We will provide thorough 
in-company training to assure that 
the candidkes selected have a com- 
plete understanding of the develop- 
ments and services provided by our 
international Institute. Engineers 
who complete our program will be 
ready to enter a new prestige profes- 
sion providing personal satisfaction 
and professional accomplishment 
They will be prepared to play a key 
role in developing new maintenance 
technologies for industry. 

The Eutectic +Castoiin organiza- 
tion employs over 3.000 engineers 


and technicians around the world 
and maintains three advanced 
research centers in Lausanne. 
Switzerland: New Vbrk. N.Y., USA 
and Sao Paula Brazil. The most 
important industries the world over 
request the assistance of our group 
and the E+C Institute to establish 
advanced maintenance programs 
and to educate their staffs in our 
maintenance techniques. 

Send us your curriculum vitae 
and a brief explanation of your 
personal goals. Ybu must speak 
English and the appropriate 
language^ of the country where 
you would like to work. 

The Director 

&jtectic+Castolin Institute 
Box 1020 

I00J Lausanne, Switzerland 


» ALES EXECUTIVE 

- Candidate should possess a similar 
background to the above with a < 
minimum of 5 years demonstrated £ 
zz success in sales, bid preparation and a 
contract negotiations. $! 

Attractive salary plus fringe benefits ♦ 

. offered for the right candidate 
Please send a C.V. to PERSONNEL 
MANAGER National Company For 
Management and Services - 
P.O. Box 41491 RIYADH 11521 
KINGDOM OF SAUDI ARABIA 


Registered 

Representatives 

can offer outs tanding opportunities 
to a few successful brokers to join our 
new team in London. 

If you have a proven success record in 
ha n dl in g private client accounts and 
would like to join this exciting new 
group, please write or telephone :- 
Hilliard Staton, 

Merrill Lynch, Pierce, 

Fbnner <& Smith Ltd, 

25 Davies Street, 

London WlY 1LN. 

■telephone: 01-493 2223.. 



Merrill Lynch 


EutecOc+CastnHn 

Institute 


International o3 company which owns refineries and 
trades in crude and oil products is looking for a . 

FIRST CLASS 

OIL TRADING DEPT. MANAGER 

oil 

The person must have first clasg experience in many - 
areas of the oil industry such as oil products market-^ 




























Page 17 



INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 



SWW' Samofl 
HW> Low 


JufylT 

Onn Utah unr CtaM Cho. 


Grains 


756 S** 

X71 5*B 

679 55M 

742 f*B 

7*9 sn 

ASt ' ' £74 

£M £76 

EA Soles. 


1HM mis 

nun 

nup . nus 
mi' 2»2 
icue 

Ttu tn 1X75 0 

T*XSe 141DO 

167*0 U7JS 

CAMS*' 


WHEAT (CBt) 

XBttta mini mum- dcrftara per buthei 

1M JlH 104 104ft 

X7#ft MTft Sop 9M U*» 

ism »w» doc xu n7v. 

174ft . SUM Mar 3.14* 114 

402, 342 MQy 344 UA 

XHV* 2JB Jul 245 2JB 

Ext. Sales . Prav.Sata MBS 

prav. DcntOpan Int. 3+749 off Id 
emu (CBT) 

SUM bo mini mum- donors per bushel 
131 257ft Jul 174ft »77tt 

137ft 149ft 3«p 2501* 251ft 

2X ' Mitt Dec 2*»6 M3 

3J0 24M IWrlS UO 

Mitt 253ft MOV 244 lS4tt 

1*6 £Stt Jut 2JBtt 244 

U toft . 55 Sop UK 138ft 

EStSota Prov. Solas KM 

pm. Day Oran I nt.l 0+203 up UK 

SOYBEANS (Can 
s*6B bo mW mum- dot tar* nor bushel 
7.99 5J1 Jut £MVb &66ft 

Aua £45 £4Sft 

Sop. Mon £47 

Nov M2 M3 

Jen 5J D . £43 

Mar 9.M 174 

Mar 6M iM 

Jut £03 £03 

*09 549 £0? 

P rev. Soles sum 

PrOT-DaY Open Int. 59459 <*42341 
SOYBEAN MEAL (nn 
lootons-tatavperlon 
«U T17J0 Jut 13050 13050 

^ |J1J)0 ]JZD0 

Sop 1KC0 13400 
Od 13450 137-00 
DOC 14200 14250 
J«1 145JM 14500 
Mar 14750 14750 
May IS I -DO DUO 

Jut 15450 15450 

Prov. Soto* 17.497 

Prov. Day Ooon int. 45*84 of) 1*72 
SOYBEAN DILI CBT) 
imilM4Mni«0rll»B), 

3272 2270 Jut 20*0 2040 

3155 2150 AwU 2730 27-44 

SLID 2250 SOP 26lSS 2455 

30-37 2250 Od 2100 S&M 

2055 2250 D«c 25.55 2555 

29.07 23L4B Jon 2220 3535 

2B40 - 24*0 Mar 25JSS 2545 

27.45 2450 MOV B4J5 24.M 

25-25 22*5 JtH 2440 34*0 

25.15 2401 Aim 

Ext- Sale* Prov. Solos 19724 

Prav.Oav Ooon Int 57.5*4 o«748 
DATS (CBT) 

MB bu minimum- dollars per bushel 
lJ-BVr L41tt Jul 1*3 1*31* 

159 Uttt Sea 1*0 1 AOft 

mm 1-43VJ Dec 1*4 1*414 

1*71* L4SV5 Mar 1*6 1*6 

1*1 1*415 MOV 

Est. Sales Prev. Sales 429 

Prov. Day Ooon Ini. 1070 off 57 


uov? io2- —mu> 

um mvo-jm 

113 11410 — JXMb 

XI 744 3.14)6 4JI114 
in U2ft +-01ft 
IBlft. UZtt -vMM 


25m 2JM6 +JH 
14* UN +JJ1 

23» Witt -Jim 

147 Witt -Altt 
ism 2J2tt — jjOlVfj 
25Btt 151)6 —ova 
134 134ft — JWtt 


IS 

&57U 


-Kom 

+*0ft 


Mjft 5*114 +.00 V* 
MM Mitt — *ltt 
£71 £7514 — JDZ 
ui ism — j* 

.. 

5A4ft £S7 -JM 



2877 20*0 

27.10 2774 

26*1 26*8 
2551 2559 

2123 25*0 
2455 2SJB 
2450 2455 
24*5 2450 
2435 24-41 

2427 


■Ml 
+J9 
+.13 
+*7 
+jn 
+m 
— JB 

—35 


l*2Hl 1*2 Vi — J»tt 
13* 139 —JHV, 

1*3 1*3 -vtQtt 

1*4 1*6 

1.46* -Jtttt 


Livestock 


CATTLE (CMS) 

40300 lbs.- cents pot ID 
67*7 5532 Aua 5650 54*7 

4590 54* Od 5730 5035 

67.85 58.V0 Dec S»J5 40-15 

47.45 -99.75 Fob 4033 40*5 

4737 CL02 Apr 41*0 4U2 

4435 4L80 Jun 6235 6233 

Est Sale* 24310 Prau.Satcs 253*9 
PrBvjDovOaaniaL 42*23 oft 379 
FEEDER CATTLE (CMC) 

44M0 Ib&r cents per lb. 


7170 

«us 

Aua 

6270 

•3*0 

7100 

MiH 

Sea 

•3.10 

6150 

7132 

42*5 

Od 

exsa 

63*3 

TUB 

4475 

Nov 

64*0 

65*5 

79*0 

6630 

Jan 

6635 

6675 

7055 

M.10 

tear 

SIM 

a *o 

70*5 

66*0 

Apr 

Mov 

67 JM 

67.10 



Est. Sales W4J Prw.Sakm MOT 
Prov, Day Open int. 8374 up 30 
HOOS(CME) 

31000 Hxl- cents per n. 

5577 4735 Jul 4870 4977 

5637 44.10 Aim 4*20 4730 

5175 4133 Od 4235 431® 

5005 4330 DOC 44.15 4430 

50*7 44.90 Fet» 4535 4530 

4735 42J® APT 4135 4335 

4905 4530 Jun 4570 4530 

4 90S 4575 Jut 4570 4570 

51.90 4535 Aufl 

Est Sales Prov. Sales 7*31 

Prov. Day Ooon InL 71321 up 23* 


55*0 

SUBS 

— *0 

57.12 

57*0 

-.27 

57*5 

59*1 

-*3 

60.10 

MJO 

—37 

•US 

41.50 

—SB 

•1*5 

M1K 

—35 

•2*0 

6X20 

—30 

•2*0 

6X25 


63.10 

63*7 

-30 

•4*0 

1&0O 

—AS 

46J5 

*635 

—AS 

MJO 

67.15 

—as 

66*0 

67*0 

•USB 

—30 

4*50 

49.17 

— .03 

4630 

47.J7 

+32 

xtnc 

4272 

+30 

43*0 

4 435 

+33 

4S.15 

iCiUl 

+30 

<U» 

4X37 

+JO 

45*0 

45*0 

—as 

4570 

46.15 

+.18 


45*0 

'-.io 


Currency Options 


jjer.y for 

»ng rg res : oc.« 


MANAGER 

b*#r..r.t'-i..r- JC ,?»** 
laEngi.i,- . a* ,,w 

tqu.vj:vT 

•W **-■ * ' r :. 

:e a: s a *-‘ 


iXF.C.i T!\E 


PHILADELPHIA EXCHANGE 
Option A Strike 
UMtortyliw Price Colts— Ual 

Sop Doc Mar 

poult. 


Jofy 16 


Sop Doc MOT 




23*5 

33JB 

138-77 

120 

1170 

r 

13877 

125 

13*0 

r 

13877 

130 

9*0 

11.10 

13877 

US 

5*0 

B.10 

13877 

M> 

150 

£70 

13877 

MS 

1*5 

4*0 

5SL0M Canadian DaBare-oraitt per 




r 

73*6 

.7X96 

72 

73 

% 

tt 

73*6 


0*0 

095 

73*6 

75 

0*1 

X5S 

<2*eo wed 

German Marksonls 

DMark 

29 

r 

r 


7*5 

r 


in 


0.15 

055 

1*0 

3JB 

5*0 


£85 


poraniL 


IU2 

mo 

r 


34*7 

34*7 

34*7 

34*7 

34*7 

34*7 

34*7 


2JJ7 

L35 

M2 


4.16 

UO 

2*1 ' 
2-03 
1*5 
187 


374 

3JB 


un 

U8 


082 

0.10 

024 

0£3 

180 


m*00 Froodi FiMO-iBM o< a cant pot ran. 


wilS 

3 Th«-' 

5 vbJ' 9 - r 

9S *'*'■ 

at-cr.^ 

V 4, 


..Tiltf 


J 1 

, ■ • apj I 


2*5 

480 

4.15 


1.17 


0.11 

022 

037 

0*2 


... ... S-C5 r r 

A83MM Jeeaw*# Yen-lNttn ot a cod pv Bntt. 

JYon 37 r r r r 0JB 

41.99 38 4.10 r r UI r 

4199 39 r smi r r r 

4189 40 332 2.54 r r r 

41.99 41 1*4 184. r 028 r 

4189 42 -074 ITS r r 086 

4189 43 038 r 173 t r 

SUM Swiss Fnmcs-cmts pot wit. 

SPmnc 34 r r r r 004 

41-B9 35 780 r r r r 

4189 34 r 485 r r r 

4789 37 4.94 T r f r 

41 JB 38 384 r r W r 

4189 39 120 171 f W W 

4189 40 240 r r U5 UI 

4189 41 UW 2-50 r 0*4 

4189 42 1.13 188 281 188 

4189 43 074 1*3 208 1*8 . 

Total en» vbl 1A124 Ortaaoatat.HUU 

TaM pat voL 4851 ^ ^ ra open InL 111397 

r — Nol trotted- s — No option ottered, a— Old. 

Lost Is nrennum (purctiaso price). 

SbutbkAP. 


FPrrmC 

100 

UIO 

r 

11450 

105 

9*0 

r 

11476 

110 

r 

£30 

114*6 

115 

r 

4*0 


HWl 


LOW 


Open HBh Low- 


PORK BELLJBS (CMC) 
SWniMrCsnBparlto. 

££ &-S3 i§ 

Saf Mr wi tS 

75*0 «££Q MW 65JB) 6130 

7400 4*80 Jul 4588 4580 

71IS 6U0 Aim 4488 *4*0 

E8t Sales 5*03 Prev.JMos 8*04 

PTW.aoy Open f fit 10,119 Tttvt 


Ui. 

Qooe 

Cho. 

Seaton season 
HHto Low 


Open 

Hieti 

LOW 

Close 

cun. 




76-6 

3+29 

Jun 

. 75-0 

7M 

7+16 

7+31 

+9 . 




73-31 

56-27 

Sun 

7+13 

7+13 

73-18 

7+3 

+9 

MJO 

35*0 

+30 

M44 

SMS 

Dec 

73-1+ 

7W5 

72-26 

73-8 

+9 

53*0 

030 

+.18 

74-15 

5M7 

Mar 

7M 

73-15 

72-3 

72-15 

+» - 

64*0 

65*0- 

+JB. 

7+2* 

4X13 

Jun 

71-27 

71-37 

71-11 

71-23 

+9 

Ml 

64*5 

+J05 

r+J7 

63* . 

Sea. 

71-4 

n-4 

70-21 

71-1 

-W 

32 

•570 

mss 

+35 

H 

42-34 

644 

DeC 

Mar 




70-13 

6+24 

+9 

+9 

6450 

44*0 

—30 , 

Est.SaM 


Prev.Sales147i457 

rtUrt MR inTT 





Food 


ODPfEE C(NYCKK) 

37JP8 BMeCcntO P0I* 18. 

149*0 12180 Jul 134*0 13180 

15020 12780 Sep 134*5 U780 

1SL40 129TS DM UOM 13980 

M9JS 128*0 Mar 139.15 13R3B 

14080 13185 MOV 13980 13920 

14880 13580 Jul 

1££0 132J5 SOP 

190*0 12080 Dec 

EstSoMw Prov. Sates 1*48 

Prov. oavopon int. 1280) oflUB 
svoarworld n wycscg) 

1128®b «tE.- cents per 40. 

975 2*4 Sep Z98 289 

985 274 Od 112 025 

775 300 Jan 131 337 

98) 334 Mar 3*0 374 

7.15 ISO MOV 3J9 380 

&*9 379 Jul 409 4.10 

420 429 Sea 484 4J4 

4.94 482 Od 481 4J2 

EeL Sales Prov.SaieO 9843 

Prav. Day Open hit SUM upUW 
COCOA l NY CSCE) 

10 metric ions- Sc 


2400 

19*3 

Jul 

2T0S 

2110 

MU 

1943 

Sea 

2114 

21 IS 

2337 

M45 

Dec 

2137 

7143 

2190 

1955 

Mar 

2152 

2140 

2171 

19H 

May 

2MJ 

3143 

2t|f? 

I960 

•Art 

21*0 

2180 

2330 

2060 

Jjtas 

Sea 

Doc 

2210 

221B 


Eft. 6a las 2845 Prov. Sain 28*9 
Prav.DavOmn lot. 21,131 uo4 
ORANGE JUICE CNVCR) 

ISJnaQMP cents per lb. 

18405 134*0 Jul 139*0 1».90 

18200 132*0 SOP 136.10 134JB 

ItUn H1 j 05 Nov 133*0 IZUD 

1M80 129*0 Jan 13175 131T5 

19780 EBJB MOT 13880 13080 

162*0 131*0 MOV 

15780- 14Z2D Jul . 

10080 17975 SOP 

Ext. Sales aoo PnmSaleo XU 

Prov. Day Ooon InL STSf oft 4 


13480 13450 
13190 13480 
13780 13422 
131*8 139JB 
13980 was 
138.90 
130*5 
13980 


2.94 UO 
3.10 134 

373 UP 
143 374 

3*0 380 

481 489 

424 447 

422 472 


2009 . 2049 
2046 393 

2123 2131 

2141 2150 

2142 210 

3100 2M9 

2191 
2210 ZH1 


— 77 
-xlS 
+.11 
+*3 

-OO 

+80 


■KW 

is 

itlS 

+.n 


43 

44 
+13 
+20 
■HD 
+10 
+W 
+10 


13180 13920 
13470 135*0 
132.15 132*0 
130*0 13025 
ryian ixann 
13020 
13020 
13020 


+20 
—1*0 
—170 
— ITS 
—180 
—170 
— 1J0 

— uo 

—170 


Metals 


COPPER (COME30 
25800 Itar coats per lb. 


5980 

02.10 

BASS 

0420 


7480 

74*0 

7080 

£3 

4780 


57*0 

Jul 

61*5 

•3*0 

•1*5 

43*5 

58*5 





•UO 

57*0 

Sen 

.61*0 


61*5 

62JS 

5850 

Dec 

61)5 

*410 

<2*0 

6405 

99*0 





64*0 

59*0 

Mar 

•4.15 

64*0 

&4J5 

451.10 

61,10 

Mcnr 

6475 

64*0 

64*5 


61*8 

Jul 

65*5 

•5 £5 

6X05 

66.10 

42 30 

Sea 

6£» 

•5*5 

*5l70 

<6*0 

6075 

Dec 




67*0 

as 

Jan 

Mar 

67 JO 

67*0 

67 JO 

C755 

nun 


MOV 




68*5 


Prov. Dav Omm I BLBl aSaVh 2Xi 
ALUMINUM (COMEX) 

BLOOD Km^ cents per a. 

59*0 4X15 Jul 


7715 


7480 

70*0 

7680 

73*0 

4473 

43*5 

5X10 


4X90 

400 

SITS 

4475 

5X95 

47*5 

1180 


Dec 

Jan 

Mar 

MOV 

Jul 


4480 

*770 


4080 4*80 4070 




Dec 
Jan 
Mar 
May 

Ext. 5a lex Prov. Sates 203 

Prov. DoyOPon int. IJM up 17 
SILVER (COMEX) 


4480 

4420 

4780 


*980 

*970 

90*0 

5U0 

5235 

52*0 


62M 4328 4208 


«3U 

4518 

4428 

4708 

4018 


4538 

4402 

<00* 

4708 

7048 


4218 

4257 

4298 

441* 

4442 

6S4* 

6438 

4732 

4035 

4998 

704* 

7152 

7362 


trover-' cent* pot troy 

14618 5028 Jut 

4218 4030 AuD 

11138 5730 Sop 43SL0 

123B8 5908 Dec 647* 

12158 5958 Jan 

11938 <078 Mar 0*08 

TO-fflU) 4718 May 6708 

9458 4X10 Jill 600* 

WOO AJ18 SOP 668® 

7998 6ML0 Doc 7048 

7098 4708 Jon 

7708 6778 Mar 7228 7228 7118 

4998 4938 MOV 

Eat. Sales Prev. Sales 20840 

Prev. Day Open Int 71*10 upL3S2 
PLATINUM (NYME) 

Stray ez/'daiiara portray o*. • 

449*0 24180 Jut 30080 29580 27580 27770 

39380 23000 Od 27080 209*0 77480 277 JO 

373*0 257*0 Jan 21380 28580 77180 20230 . 

329 JD 24450 APT 289*0 29080 2M80 2B720 

30280 27X00 Jul 29580 29580 29180 292*0 

EsLSatoa Prov. Sales U99 

Prov. Day Open InL TT*0£ upS* 

PALLADIUM (NYME) 

100 troy at- dollars per as 

14129 *0*0 Sap 9480 *450 94JD 99*5 

141*0 9180 DOC 9450 +423 *425 9485 

127*0 9120 MOT 9780 97*5 9480 *480 

11480 91*0 Jan 9785 

Eat.Salos Prw.SaUrx __ Ml 

Prev. Dcry Open InL 6*74 up*0 

OOI-D (COMEX) 

104 trovoLr dollars per troy ar. 

32X30 3098D Jul 32480 32480 32480 32130 

MSJffl 27180 Aup 32380 32X80 32240 32*00 

31 UO 315*0 Sap 32580 

49380 29780 Od 33080 33U0 324*0 377.70 

4S9J0 301*0 DOC 33XMP 33580 33080 33L7D 

483*0 30480 Fob 318*0 3300 33880 335J0 

49480 31420 APT 343*0 34480 32980 34008 

43520 320*0 JWI 347*0 34X20 34430 34460 

42X40 33180 Aim 332*0 *080 34780 349*0 

39320 33580 Od 35780 35720 35620 35430 

39380 34280 Doc 31280 14280 34B80 359*0 

Blffl 35580 Apr 37X10 

Est. Sates Prav.Sata * MMO 

Prov. Day Open int.132.102 oH<73 


its 

+1*0 

+1*0 

+1*0 

+1*0 

+1*0 

+1*0 

its 

+1*0 

+1*0 

+1*0 


i 5 

+90 

+20 

+20 

+.90 

+20 

+20 

+20 

+20 

+20 

+.90 

+20 


+42 

-MJ 

+40 

+43 

+4* 

+44 

+48 

+58 

+3L2 

45* 

+56 

458 

+48 


+430 

+4*0 

+420 

+420 


xSL 

+1*9 


+320 

+320 

+980 

4X10 

43.10 

+3.10 

+110 

+380 

+390 

+320 

+380 

+380 


Rnqnclal 


US T. BILLS IIMM) 


SI mIRIan- ate ol m act 

9133 86.94 Sea 

9X16 

9X23 

E* 4 

9X09 

9X07 

0531 

Dee 

92JS 

9191 

W*7 

nJJ 

9159 

0+40 

•tar 

9250 

9151 

92*8 

92*0 

9230 

sun 

Jun 

92*2 

9222 

92.17 

92*5 

9101 

MM 

Sea 

91*5 

91*0 

9U5 

91*5 

91*0 

91*9 

69-05 

B9J8 

Dec 

tear 

Jun 




91*9 

91*5 

9X02 


+84 

+8) 

+81 


Est.Soies ISOM Prov. Sates X792 
Prav. Day Open InL 34254 up 625 
IS YR. TREASURY (CBT) 

5100800 prbv- pts A Bndtol 200 act 


68-21 

75-18 

Sea 

or-* 

87-4 

*4-16 

84-28 

+18 



Dec 

0+3 

64-3 

*5-15 



86-2 


Mnc 

8M 

*5-3 

04-W 

8+29 

+11 

057 

74-30 

Jun 

13-24 

8+2 

*3-24 

8+2 

+11 

8+4 

82-n 

Sep 

•M0 

JM 

8MB 



83-11 

K-H 

Dec 




•8-15 




Prav.Sata 6*77 




Prev. Dav Oaen Hit. 53*42 off 743 









(1 DCMIOOOOUrt* « 33m*®of lOOpcf) 

77-1* 

78-1 


79-13 



78-10 

78-12 




Dec 

77-7 

77-9 


74-30 

+9 

77-29 

57-2 

Mur 

7+5 

7+7 

7+39 

+9 



izum 

m 





•/fir* 

It* 





Kr^-jv- B 


X’*rT® 


Hr^TB 

IrfM 






■a 

ndUfl 










GNMA (CBT) 

■WT# 

it? ■ 

Es).5ahn 

Prov. Day Open InL X9» up427 
CERT. DEPOSIT (IMM) 

SI million- pts Dt 100 Pd 
. 9178 0380 sop two *1M 

9227 SS24 DOC 91T7 92.17 

9125 0154 MOT _ 

91*0 BL43 Jun 9121 *121 

9T.I9 PM Sep 9021 9021 

9023 00*4 Dec 

est. Sales UO Prov. Scries 99 

PT*v. D«y Ooon Id. 32M unU 
EURODOLLARS (1MM) 

StminfmmfsoflMPCL 

*2*3 14*3 Sen 9224 

9280 44*0 Dec 91*3 

91*4 HW Mar 91*2 

91.15 0123 Jim 9183 

*0*4 9788 SOP HL47 

90*3 1720 DOC 9027 

90*4 0*4 Mar (082 


9220 

9123 


91.10 

njt 


9 ZB 

mu 

91*3 

9L15 

90*0 

9040 


ra*S 

9027 

8985 

■9*3 


92.11 

91*0 

9123 

9083 

*040 

taw 

09*6 

09*8 


9223 9189 
9181 91*7 

91*3 9L1S 
9UM 
KJ7 
9032 

-_. *082 

0985 0124 Jun 8925 >929 

Est.5ahs sun Pnv.Satas 30131 
Ptav. Dav Ooon lnLU4257 off 544 
BRITISH POUND (IMM) 

S pot pound- 1 point ewisSSJSOl 
1*450 1-6200 Sep 1*030 1*100 12*5$ 1*055 

L372S 18200 Dec 12920 1J990 12*50 12945 

1JM0 UNO Mur 12940 13053 1^45 12045 

12530 1.1905 Jun 127*5 "1.37*5 127*5 12780 

EM.SalQS 14299 Prev. Sales 9*71 
Prov. Dpy Open hit 448U 110544 
CANADIAN DOLLAR (IMM) 

Spot Mr- 1 patat ommtaiOOOOl 
7505 7025 Sep 2405 240 2390 2399 

75*4 7004 Doc 23M 73M 7375 2377 

7504 JHS1 Mar 7373 7373 7367 7357 

7333 70» Jun 2337 

Esl S ates 1*34 Prav.salos M 
Prov, Day Open int IBM IS* 134 

FRENCH FRANC (IMM) 

S nor trwv> i point aamSsOLOOM 

.11390 89100 Sea .11560 

.11340 J969Q DOC .11605 .11405 .11405 .11490 

Est Sales 2 Prav.Sata 
Prow. Dav Open inf. 403 otfi 

GERMAN MARK (IMM) 

Spot mark- 1 point oauan 508001 
*545 2930 Sea 2533 *551 2513 *533 

2410 2971 0SC 25S2 2574 2S0 *560 

*551 TOM Mar *590 *599 JStO 25H 

*335 2X15 Jim *433 *433 *4lS 2638 

Est.Sata 3X9*0 Prav.Sata 30201 
Prov. Day Open IM. 60*75 off 2211 
JAPAN OSB YEN (IMM) 
iDorvmv i Mbit oauatasaaoHS) 

004230 JKOB70 Sop 80050 804348 80OUJMOB 

004350 803905 Doc 8000 8D42M / 

004341 — ““ 

£||,lB|b - - . ... ,, 

Prav.Oav Open InL 34*30 «H1 


-81 

—81 

—87 


— 85 


— 81 
-83 


+200 

+380 

+3B0 

+200 


+19 

+19 

+14 

+14 


Est. Sales 192*7 Prov. Sata^ll^TS 

SWISS FRANC (IMM) 

Jper franc- 1 point eauolsSLOaoi 
*B30 *400 Sap *240 *314 

*340 *531 DOC *294 *341 

jem. 2B3S Mar *340 *340 

(Tar. Sales Jun Prav.Sata 2M3S 
Prev. Dav Open Id. 30*74 up IK 


*301 

*334 

*372 


+90 

+91 


Industriats 


LUMBER (CMC) 

TVinmi M ft 1 JVMifc* n 

lwS mso sop .14*80 15080 MSJOO 14780 

166.10 13780 Nov 14980 15080 144*0 14720 

10780 144*0 Jan TSU0 154*0 153*0 154*0 

1V580 150*0 Mar 141J0 14280 14080 19980 

174*0 15280 MOV 147*0 167*0 165*0 14480 

1B38D 17180 Jul 17380 17380 17380 17380 

17480 17480 Sop _ 10080 

EsL Sales 2221 Prav.Sata 1203 
Prov. Day Open InL X47S ap13l 
COTTON 8 (NTCE7 


61 JB 6125 
6173 4175 
61*5 4173 
41.12 41.12 

56*0 5780 
56.15 5429 







■•'Tl 



BTTb 

■ 'iP ■ 





Pw ^ 1 1 
















i* 

K f 1 

| .> ■] 

B , fr ■ 






—180 
—1*0 
—LX 
— 280 
—120 
—230 


—.17 
— 60 
+8S 


Eat. Sales 1*00 Prav.Sata 1204 
Prov. Dav Qpan InL 14*54 upB 
HEATING OIL (NYME) 

42800 aa l- carts per odd 

64*5 Aug 49.90 4980 


74*5 

77.10 

7455 

7825 

7480 

7380 

73*0 

7480 


4480 SOP 70JSB 70*0 
4785 Od 7075 70*5 
MJSP Nov 71*5 7U0 
49.15 DOC 73EB CTO 
49*0 Jon 71*0 72*5 
7X00 Fob 7280 7280 
4980 Mar 

«UM APT 


EoL Sales Prav.Sata 7702 

Prav.Oav Open InL 212S4 ua5t£ 
CRUDE OIL CHYME} 

1800 bbL~ doll ar s per bM. _ 

29*7 2625 Aim 37 JD 27*6 

29*0 3480 SOP 2462 2487 

29*0 2465 Od 2483 2486 

29*0 24*0 Nov 2583 2583 

29*0 23*0 DOC 2527 2520 

29*0 343* JOn 3485 2580 

2**6 3425 Cob 3485 2485 

3985 3413 Mar 3440 34*0 

29*5 2293 Apr 3415 2415 

2784 2385 MOV 

2X70 3X79 Jun 

2784 2573 Sap ... 

Est. Salas Prav.Sata H.I76 

Prev. Dav Open InL 41.151 off PM . 


6X65 6X77 
5*20 49*2 
49*5 69*S 
70J0 7X54 
71.13 7L10 
7180 71*5 
7280 7125 
6080 
6780 
4680 


27*7 27*0 
2452 34*7 
25*6 2580 
2S*S 2549 
25.14 25.16 
3483 3481 
305 2464 
24*0 3481 
2405 3414 
2X91 
3374 
3136 


—JO 

—1*0 

_ut 


+11 

+10 

is 
+61 
+81 
+81 
+81 
. +81 


Stock Indexes 


(Indwcos coraplM shortly befaro market due) 


SP COMP, INDEX (CMS) 
points and cents . 

19480 16X80 Sop 19725 19X00 1948S 19723 

19980 17570 Doc 20025 30085. 199*0 30X15 

30X00 19X10 Mar 30X50 20X75 30325 20US 

38120 200*0 Jun 30450 30450 30480 38480 

Est. Sales Prav.Sata *4250 

Prov. Dav Open Int 44835 UP 1434 
VALUE LINE <K CBT) 
paOtteandcorts 

31220 1X575 Sep 21X10 21320 311*0 31180 

215*5 30080 Doc 21410 23785 21525 21525 

Eat.Salos Prav.Sata **99 

Prov. Dav Open Inf. njol upIJ47 

NYSE COMP. INDEX tMYFB) 
paints and cents 

11185 *125 Sop 11585 11525 11480 11 

480 490 Od __ _ . _ 

114*5 10120 Dec 1147S 11720 11420 114 

THIS 10980 Mar 11X74 11X75 11X50 HI 

Est. Sales Prev. Sales UUM 

Prav.DavOmn InL 11*03 up 70 


+80 

+25 

+85 

+80 


Commodity Indexes 


Moody's. 
Reuters^ 
D-J. Futures. 


dose Previous 

715J50 f 915.101 

1,677.55 1,67980 

NJL 11753 

Com. RBseard) Bureau- NA 22S80 

Moody's ; boss 100 : Dec. 31, 1931. 
p - preliminary; f - final 
Reuters : bas« lOO.'Swia, 1931. 

Dow Jones : Dose 100 : Dec 31, 1974. 


! plv. 

5 - sar ^;; ,s . 

V . *0 = - 

ana'. Co.r^:, '' 
d ServTfi 
! . 

AviCJ 




Gommwlities 

Jufyli 


SUGAR 


Hl0k LOW EM Aik OfU 


ULT. 


oS* i t ?sd u» 

Dec 1,155 MSS 1.157 


^ M® WS -4 


I.1W —4 


terefi 

ntatives 


ar. i.:r.£ : • 
»*p. ”■ ’ 

,r ' "• :i 

: s 

.. i 1 ., :• ■• 


»» 1.165 1.154 1.102 1.IW — . 

Mov 1490 1.105 1213 I2M -7 

Aug 1230 1215 1235 1^5 —15 

tU. voL; 453 lots of, SO ion*. Prov. actual 
»!«: 1754 lots. Open Interest: 17.175 
COCOA 

French francs per 100 ke 
Jly N.T. N.T. — 2150 UflCb. 

sep mm 2018 2810 WS —3 

Dec 2820 3800 2801 X005 —5 

Mar 2820 2817 2810 2814 —7 

Mar N.T. N.T. 2815 - -5 

Jly N.T. N.T. ago — —5 

Sen N.T. N.T. 2J2» — —10 

fist m L: lot lots of 10 taPw. adoat 
tales: 83 M* Open in rarest: BOO 
COFFEE 

French francs par 140 kp 
Jtv N.T. N.T. — 1.950 —10 

Sec MR 1,924 1^4 -15 

Itov 2800 1859 1.945 1.9SB —16 

Jon K.T. N.T. — 2800 —40 

Mor N.T. N.T. 3835 2800 -10 

Mar WLT. N.T. 2*55 — —IS 

Jhr H.T. N.T. 2873 — IS 

EeLvoL: t8lotsaf5(onxPrav.adMfsata: 
R tots. Open Interest: 363 
Start*-- Bourse du Comamva. 



London s 
Commodities 


ASk 


Jufyl7 

Proviau* 
Bid ASk 


rill Lync- 



prixJ-w^ J” *" ' 

CIA** G # 

)F.pr. m* nA 



relink ' 

r .'c ^ 

n p<n«n>- - . 


„ Him La IT BU 
SUGAR 
5km no per metric too 

9W0 «80 92JM TWO B9J0 9080 
M80 9380 9580 MOD 9380 OB 
99*0 97*0 9S*0 9980 94»,9780 
107*0 10X40 107*0 10780 1U50 10400 
11080 11080 111. Ml 11180 109*0 11020 
11480 11480 114*0 11580 11020 1)380 
11080 11780 11020 11080 11780 11120 
Volume; iSW Ms at SO twix 
COCOA 

Start lee per metric h» 

XV 1215 1894 1706 1710 1700 1704 

Sm 1892 1275 1274 1270 12S2 12U 

O0C UK 1866 1867 18M 1875 1876 

JJnr 1804 1275 1876 1877 1806 1207 

May 1700 1200 1207 1219 1701 1+32 

Jly UU 1701 1706 1704 1711 1717 

Sep 1715 1715 1714 1711 1723 1727 

VNuim: xsa lots of 10 tonx 
CDpfee 

Wertlm mr metric tun 

g. 18« liu ’go 

1745 1730 1743 17g 1750 IMf 
1749 17S5 1770 17M 17«5 1793 
N.T. N.T. 1770 1820 1800 1815 
VMume; 3744 lots « 5 tonx 

(&A50IL 

U*. Mart pm metric tan 
*W 21050 21725 71775 21820 21450 21720 
Is 7377s 21425 2)4*0 21475 27520 2)475 
Od 21980 31880 71xp 21925 21780 21725 
•JO* N.T. N.T. 21& 21975 21080 2»EI 

S Dk N.T. N.T. 2»75 22380 23080 231 *01 

N.T. N.T. 23080 22580 21980 fiXSO 


r 


Goi^iiifes 


HONCLXONG SOLD FUTURES 

IU*I 


Jufy 17 


HW Lew IW Aik M .. 

JIV__ NX N.T. 31980 321*0 21780 319*0 
Aim-. N.T, N.T. 32X00 30200 31080 32080 
Sep— N.T. M.T. 32200 32480 33080 32280 
Od - N.T. N.T. 32480 52480 32X80 32480 
Dee, N.T. JLT. 32X80 330JB 32&JB 32X00 
Fab _ T» nn 32280 "m nr 334*0 33X00 "rrt IM 
APt — 33780 33780 33480 33X00 33480 354O0 
Jun— N.T. NX 90M 34380 33980 34180 
Volume: 24 tots of too at. 

SINGAPORE GOLD FUTURES 
U.5* par oanc* 

Prev. 

Ms* Law settle 
Aua - 1711111 33X30 

Sep H.T. N.T. 

Od N.T. NX 

Doe - N.T. N.T. 

Vofumo: IK tots of 100 at 
KUALA LUMPUR RUBBER 
McOmiae cents nor kHo 



volume: 21 lots. 
SINGAPORE RUBBER 
one 


Previous 
Bid AM 

19400 19580 
19380 
19X5Q 194*0 

19450 19X50 
19780 19X00 


^ndon^to^ 


ALUMINUM 

metric too 


torward 


m 


75480 


July ir. 

Ptwrions 
Bid AM 


737 JO 
75X50 


75980 


COPPER CATHODBS IHM Grade) 

"■^•'TSSSTT* 4X80 1*4980 185080 
185X50 185180 185780 1857 JO 


COPPER CATHODES (Standard) 

Marline Mr metric lee 
soot 181380 1815*0 183080 183280 

lid 183380 1815*0 183780 181980 


S te m oB nor metric ton, 
spot 
forward 

NICKEL 


2KD0 

29X50 


29080 

29480 


xpof 
forward 


T . qKwi -l. OTtnfl (W 385080 
31440*0 384580 169X00 3895*0 



442*0 

45480 


45RM 45780 


EM Aril BM 

ftSSlAim- 17SJC 174JSJ NJL . NJL 

RSSISOP— J738S 172JB — 1 

RSS2AUO- 14480 167J» — 

R5S3AU0- 164® 14580 — 

RSS4AUB. Mffl 14780 - 

RSSSAUO- 15580 15780 — 

KUALA LUMPUR PALM OIL 
Mataysln riBBtftt P«r 2S tarn 


Nov . 
O0C. 


JOT 

Mar 

Mov 

JW 


Volume; 0 lota of 25 Ions. 
Source: Reuters. 





AfyJ6 



Otter 

BM 

YMtf 

Pnv 

rtofti 

3-morrtb 

7*0 

MS 

7*2 

7*7 

+maniti 

7*9 

7*7 

7*5 

754 

One vear 

7.19 

7.17 

7*1 

7*7 


Source: Salomon Bratton 


N.T. N.T. 


23580 21UDS4JB 


... N.T. NX 2)980 22080 21080 220*0 
*■) KT. N.T. 20680 22080 20580 21780 
Volume: BSJ lots of TOO tom. 

Spwioos: Roofers and London Petroleum E*- 
rhonae (9cao4)). 


France Reporte a Snrpliifl 

Reuters 

PARIS — France's imaA'usied 
cmrect account balance of pay- 
ments saw a surplus of 10.8 huHoa 
francs ($1 1 billion) in tbfi second 
quarter after a 17.7'bfflion-fianc 
defidt in Gist quarter of 198S, the 
Finance Ministry said Wednesday. 


45X00 

riNjato od ord) 

2St I mSSd , MS780 9.13080 9.12SLOO 

forward 985580 985480 9,12080 9,12180 

SMC 

Startles nor metric tee 
spot 52480 £3980 SUM ntoi 

forward 5l£8o 51480 *2480 52X80 

Scene: AP. 




Company 


/«fyJ7 


USUAL 


Clttums 8. Stten SC 
Fst Marvimi Bno 
Kemrin Shoos 
Haft BnctiraTx 
Nteolet Instrument 
PubSwcEtld 
Ram industries 
Sauttwm Bancorp 
VFCorp 


A-A—ued; m MQd t tUv) OGaarfertv; S4 mbL 



Source: upl 


S&ptop 

Index Options 


Jair 16 




Commo dit y end Dolt 
Coffee 4 Santos. Ul. 


Jofy 17 

Ye 


PTIntripHl 44/30 30 ft. Vd—. XM 

Start fafilets- (PUD, tan 473*o 

Iran 2 Fdry.FMla.ttn — mw 


l*i 

Uf 


Stool KXDP No 1 Aw Pin. _ 
Load Spot, lb - 

capper atod. lb 

Tin (Straits), lb 


2i: 

NE 


64*7 


5*6 E. St. L Bails, Hi . 

Palladium, oa 

SHvar N.Y.OK 

Source: AP. 


S5 

UhV 
9144 134-110 
67S5 7*15 


Price l_ 

33 xa 
SJ 185 
X 1*1 

34 087 

27 029 


JUy/r 


X99 

220 

174 

120 

0*1 


324 

272 

XU 

187 


X15 XU — 
S32 077 an 
567 KU m 
120 181 1*2 
1*2 — - 


Estimated Mat voL 9*92 
CulH; Tue. vaL3JM0POO WL3L302 
Puts ; Tox NX UHepeo tarL 1X737 
Source: c ME. 


pnaJfr Ate See Ost 
m____ 

B nv, - - w 

» m un is 

uo m M no m 

V E » A A 

HO 14 DO 3 4 

Hi VU 7/U 15/14 Ih 

ToMcdiwtim asm 
TMotcflOaeaikiLOUN 
TWnTpe/ tafuBN n2K 

ToMPri menM-SRUO 


Pris4mt 
A M JB W 
1 /U - - — 
- 1/14 Hi 
1/U VU 1b 
1/U U * 
5U1» 1 
M 4 A 
n m n 


u 

ih 

39/14 

« 


*015723 LawlHJf 
Source: CBOC. 


CM9W3+W1 


Nswofferby 

CBOT 

BOND 

fUX D BES 

& mam 

FUTURES 

OPTIONS 

Also futures and 
Futures Options oa 
COMEX -GOLD & SILVER 
IMM-CURRENCIES 
ten Ct n on uf m Rota 

aOUNDTURN 
nUTANO 
OVEXN1CHT 

‘AppHetsstr^tmOet 
axeetitrt T 290 cantrmcU per 
calender mart Ui. First 250 
contracts 175 mend tun. 

CnJhxter^ourprqfEssfonab: 

212-221-7138 

REPUBLIC CLEABIHG 
C0BP0BJET10N 

4GMbMm.mHI Mtf 
AaAM^cf 

a^mUteiritmirilMli U*em+* 

6 S 1 2 MUon roamrretti rank 


*15 


The Flowering of an Industry in the Netherlands 


(Continaed from Page 13) < 
five times more expensive in the 
United States than m Europe. 

The per-flowa price may help 
explain why average per-capiia 
Dotch speadieg an flowers — $60 a 
year — is double the US. JevdL The 
gray, frequently depressing Dutch 
weather may a Iso be a factor, along 
with local tradftioss of home deco- 
rating. 

In Western European dries, peo- 
ple tend to buy flowers way week- 
end, but Americans, Mr. Mulder 
said, usually buy flowers for special 
occasions. “We’re competing with 
a box of chocolate or a bottle of 
perfume or perhaps dinner for 
two,” he said. 

Nevertheless, Dutch flower ex- 
ports to the United States have 
started to climb steeply. Revenues 
from U.S. exports totaled only S 
million guilders in 1975, but have 
surged to an estimated 300 mfllion 
guilders for this year. Dutch horti- 
cultural officials say. 

If the European experience is 
any guide, the U.S. market will ex- 
plode in the coming decade, ac- 
cording to Mr. Mulder, 44, who has 
managed the Aalsmeer auction for 
21 years. In fact, the U.S. Agricul- 
ture Department is considering 
posting an inspector at Aalsmeer to 
facilitate exports. 

Because of its sophisticated or- 
ganization an d dominant market 
position, the Netherlands can im- 
port flowers from countries with 
generally wanner dimataa, such is 
France, then cut them and pm 
them together far re-export to the 
French markeL 

“For a Paris wholesaler, Aals- 
meer is a one-stop order, saving the 
need to shop around different nt tie 
French cowers to get a full selec- 
tion.” a Dutch exporter said. 

Abundance is the key to the 
modem Dutch flower industry, 
which raises six billion flowers a 
year. Greenhouses are used to insu- 
late the flowers from the cold, wet 
North Sea Glass covers a 
total 'of 5,000 hectares (12330 
acres) in the southern Netherlands, 
where the bulk of the cultivation is. 

Many of (he greenhouses are mo- 
bile; in them are grown banks of 
seedlings for several days. Then the 


batch. The flowers are grown in 
batches so that they arrive on the 
market evenly. 

The Aalsmeer market attracts 
200,000 spectators a year. On a 
typical summer morning, Ameri- 
can, European and Japanese fam- 
ilies peer down from the tourist 
catwalks, oohing and aahing at the 
massed flowers below. 

By the cartload, l clips and nar- 
cissi, roses and orchids flow from 
(he auction rooms to the packing 
stands. As the batches of matched 
are shifted, the colors rotate like a 
kaleidoscope in this man-made 
meadow of cut flowers. 

The main auction is split among 
six rooms, each a mini-auditorium 
for about 200 buyers, seated at tiers 
of desks rising in from of the auc- 
tioneer. Each hall has a specialty; 
roses, carnations, chrysanthemums 
(the three top sellers) and, season- 
ally, orchids, freesia and, of course, 
tulips. 

As the cartloads of flowers inch 
forward on tracks, with attendants 
clad in smocks bolding aloft sam- 


ples and displaying stem lengths, 
buyers talk to the auctioneer in 
rapid-fire undertones through a 
goosenecked device incorporating 
microphone and earpiece. 

For speed, prices are bid down, 
tom up, at Aalsmeer, in contrast to 
usual auction practice. Giant, 
docklike indicators start their 
hands at a top price, then fall until 
a bid is flashed electronically from 
the buyers’ ranks, stopping the 
“dock.” 

Computers help route the flow- 
ers to exporters* warehouses on the 
premises, always within IS minutes 
of purchase. Dutch trade officials 
contend that the auction is one of 
the world's smoothest distribution 
systems. 

It also ranks as an outstanding 

K rs’ cooperative. Officially 
i as the United Aalsmeer 
Flower Auctions Cooperative As- 
sociation, and often called by its 
initials in Dutch, the “VBA,** it 
belongs to 4,000 fanners, who sell 
their flowers exclusively through it. 
Founded in 1912, the VBA ini- 


U.S. Bill Calls for Import Fee 


greenhouses are rolled along sever- 
al hundred yards to cover a new 


By Jane Scabcrry 

New York 71mre Service 

WASHINGTON — Three lead- 
ing Democrats in Congress intro- 
duced legislation Wednesday that 
could result in a 25-percem sur- 
charge on goods from nations that 
run large trade surpluses with the 
United States. 

The bill calls for imposing the 
surcharge if initial efforts fail to 
open those nations’ markets to U.S. 
goods. 

It is sponsored by Representa- 
tive Dan Rostenkowski or minni*. 
who is chairman of the House 
Ways and Means Committee, Rep- 
resentative Richard A. Gephardt of 
Missouri and Senator Lloyd Bent- 
sen of Texas. 

Aides said the measures are in- 
tended as a warning to the Reagan 
adminis tration 

The bill would give the office of 
the U JS. trade representative a cen- 
tral voice to make the administra- 
tion. pursue a more aggressive po- 
licy, particularly with Japan. 


Japan had the biggest surplus of 
any nation trading with the United 
States — 536.8 billion —last year. 

The legislation would apply io 
nations whose exports to the Unit- 
ed States exceed their U.S. imports 
by 65 percent, and whose total ex- 
ports exceed imports by 50 pcrcenL 

The surcharge would be removed 
only if a country’s trade surplus 
were reduced an additional 10 per- 
cent each year after the surcharge 
became effective. 

The bill is the latest in a series of 
measures proposed on Capitol Hill 
to stem the yawning U.S trade def- 
icit, which reached a record SI23 
billion in 1984 and is rising still 
higher this year. 

Japan has tried in recent weeks 
to defuse protectionist pressure in 
Congress by seeking ways to reduce 
tariffs, relax regulations and re- 
move other import barriers. 

But U.S. of ndals, eyeing predic- 
tions that its trade deficit with Ja- 
pan could grow to £50 billion this 
year, have said the measures are too 
vague or insubstantial. 


tially helped farmers resist buyers' 
attempts to play them off against 
one another. Nowadays, the VBA 
concentrates on providing market' 
mg services that its members could 
never afford individually. 

For example, the VBA worries 
about fashions in flowers as com- 
pulsively as a Paris couturier tries 
to anticipate hemlines. In flowers, 
"colors and even varieties have a 
product life cycle, usually about 
five years.” said Mr. Mulder. “For 
years, yellow flowers were unsale- 
able in' France, now they are. Japan 
likes pale tones, the Germans want 
hot colors. Americans still like the 
slightly melodramatic heavy tones 
that stopped appealing in Europe 
five years ago 

Scheduling for peaks in demand 

{“It seems like it's always Mother’s 
Day somewhere when you have a 
world market”) and predicting new 
tastes long enough m advance for 
Dutch farmers to be ready to sup- 
ply them — all these services are 
pari of the cooperative's job. Mr. 
Mulder said. 

Although buyers cannot belong, 
more than 300 wholesalers and ex- 
porters have offices and packing 
depots in (he VBA. 

One of the biggest is ZureL a 
company that started in the busi- 
ness when the present owner's 
grandfather ferried flowers to Am- 
sterdam in a flat-bottomed skiff he 
poled along the canals. 

Today Europe is crisscrossed 
daily by the company’s flm of blue 
trucks with “ZureT emblazoned in 
giant gold letters. “It really does 
show up better,” say's Maurice M. 
ZureL 76. who started in his fa- 
ther's company 53 years ago. 

In (he Zurel order room, which 
tike the shipping dock, is under the 
VBA roof, ine activity is as intense 
as in a currency-dealing office. 
Twenty salespersons, each with a 
computer and a bank of tele- 
phones, bargain long distance in a 
bobble of English and Dutch, laced 
with German, Spanish and Arabic. 
With the phones, each salesperson 
works a national territory: (he 
computer shows availability and 
records orders. 

In the competitive international 
(lower game, Mr. Zurd said, the 
Netherlands has no intention of 
resting on its laurels. 


AUTO RENTALS 


RENT A CAR N RANCE. 

Unfanitod Honwtan. 
fl)S87 27 04. D0X5I - 60 BdL Si. Stood, 
7500S Pdriif Franca. 


AUTO SHIPPING 


TRANSCAR 

itccARMPma 

SPECIALISTS 

PAHS m ZB 64 44 

CAhNES/NCE J93J 39 43 44 

FRANKFURT (061 07] B0 51 

BONN / COLOGNE 0223 2)2971 
STUTTGART p7t«!l 83081 

MUNCH (0691 93 10 45 

1-BREMBiHAVBV JM71] 43053 

_ NEW YORK D]2) ®5 7061 

^HOUSTON ri| 931 7605 

LLLOS-ANGSJES 213 568 9288 

MONTREAL 514 ) 86 6 6681 

Amrns worTOimqc 

loom « to in to bring it to yon 


AUTOS TAX FREE 


COOPS ST JAMES 

OfVKIAL AflBNT 
OF BMW (OB) IJD 

WM> you ora in Eurapo, m« oai olbr 
oamdwoW* img an brand note 
BMW eon to mad spadfiarianL M 
factory wanaafy. 

Wo art ofaa mS right or left hand 
dive tax free BMWV d found arias. 
Wo aba unity factory butt DuSet- 
proof BMWsond the Alpina BMW 
rang* tar Free. 

(01) 639 6699. 


NRV FBJOEOr. Land Rtwar. toga 
Boxer, Toyota 4*4, tiopcnl (pea. 
Drift*, Zanflefcaan 18. Mo adta- 
braak. Hofand 030*45492, he 47082 


INTERNATIONAL CLASSIFIED 


(Continued From Back Page) 


AUTOS TAX FREE 


Nta Mnn/MaCBES On Stack 
745 fxtutao CTxoi Hue While 
735 loivnriy/Brriao Uatoor 
635 RoJ5Seo8 Eta ttwR W »riy 
535 WttiHc loo HlfcMo 

500 SK dark bluo/gray ladfaar 
300 sa.nautal bbo/gray bather 
300 SE chcanuM / brawn lodhor 
Pto-aweied HMW s/Poncho dm 
awdablo Muni ch. Wad Gammy. 
T«L MB9-465D41 or 42 
The 522i?5l (0 am. . 10 pjn. 
Amertam Owned tad Oooirtoi l 


10 YEARS 

Wo Dofarar Can to Ita WdiW 

TRANSCO 

Kooping a contort dock of mora ihan 
300 brand now coil 
ym happy gwa ongyear. 
atnd Wf rm ow o c o Br catong. 
Trt onco SA, 95 NoonMaan, 

2030 Anlwenv Belam 
Tel 323/542 62 40. Ik 3S2D7TXANS B 


EUROFORT TAX 
FREE CARS 

Cd or write far free caRfag. 
be 13011 

KoHanfara AlraarLHaland 

Tttffi 106331)77 

TtaeSbl BOS ftt. 


AUTOS TAX FREE 


NEW MERCEDES 

PORSCHE, for iamedaio deEvwy 

RtOM STOCK 


. Ota iron ra , 

band, cnarranion in USA 

RLHE INC 

TAUNUSSTl. 52.6000 FRAfOOUTT 
W Germ, Mri W»-332351. to 411559 


EPA/ DOT 

CONVERSIONS 

I * Custom btataoQe/boMing tttvico 

* Pick-up & defivory onywhart in tfta 
EmlOA US. & Tout 

* Prafanional work uuno only too 
Wjjhsss (fjobhr an^nneriti 

■ Gurantood B’A / DOT appnwal 
OIAMPAQNE IMPOtTS tNC, 
2294 North Penn Id, Hrtfield. 
PA. 13944»USATok215 122 6U2 


EXCAUBUR 

too Auto om bae o L droor ifcitata 

Pork Pdace. Monte Corio 

Wnobnutt da Atomco 

Tot ^ 25 TiTVJhe 479550 Auto MC 


NEW MOODS *BO. WANTS 
RIGHT HAND DMVE MOWS TAX 
fSB, W CUfOWG T23 5HBK. ANY 
WfQL WE COUECT. TO.- UK 
■((00471 65215. TLX: 7470*3 


TRAHSMUMJI BBGUM. 71 Go tat- 
jcboon, Ba241 Zoaraol Antwerp. Tali 
03384.1054 TV 32302 Tramn. B. In 
aoda Moroeday BMW, A5Q. 


TRASCO. KBtCHJB 4 O IW 

mokeL Tn freo LHD Giport for USA. 
656 7 Ptar lc Iowa, London Wl.Tri 01- 
629 7779- Tin 8956022 TRAS G. 


LEGAL SERVICES 


(IS MHOaRADON vdca. Aim. Spfoi 
& Rodney. 1W5 toidol A*, Miom FL 
33129. T iL (3QS) 6439600, |x 441469. 


AUTO CONVERSION 


DOr/BA CONVERSIONS to UJS. 
spoa. Ama ptona guaranteed. VIA 
Coital 1B25M AirteL Bobnoro, 
M) *1007. Tot 301-693-3200, Tbu 
4995689 VJA US. 


LOW COST FUGHTS 


NEW— YORK 

FI 450 1 w> 

105 ANOELE5 
F19S0 1 wv 
PASS INTER 

43 Bd. HOMoraorn 75009 Prim 
■ Tofc 743 15» - 548 9635 


NY ONE WAY $150. Everyday NY. ■ 
Wba Coon J14S hn 225 92 to 


HOLIDAYS & TRAVEL 


SAKING TOUR HOOD 38 YACHT. 
Grab Aegean Sect need 2 moie Aua. 
11 ■ S*iTS750. Para 522 69 40. 


HOLIDAYS & TRAVEL 


CHARTS A YACHT IN GRBCE. ft- 
rad from owner of largest flow. 
Aaencon maaagmooL Excalm 
crowi, govf. bordoL Vcfaf Yodto, 
Alai Tbonotobbauf 22C RraM*, 
Greece. Tab 4529571, 409486. Tba 
21-2000. USA offices; fir Rood. Am- 
bier, PA 19001 Tot 215 641 1624. 


HOTELS 


GREAT BRITAIN 

'LONDON GUST HCXBE IROMS15 
prttoy. 01-4553764 or 202 7325 


USA. 


TUDOR HOTEL 304 Etat 42nJ Sl 
N ew York Gty. to farixontol*, £osr 
Side MartoaharL 1/2 Uodc from UN. 
Swgla from $70; doubles from $85. 
(toon towing toil ad- 20% dacount. 
Tbo 422951. Tut 213-9888800. 


ARTS 


MARTYN G8EGOCY GAUEBY. Lrxv 
uoa Chino mdepetute^ torfy bo- 
teniaal watereolon 8 orrly Engfah 
wateradort, 34 Bury Street, Si. 
famei'L SW1 (01)839 3731 


ANTIQUES 


ANTIQUE RAUROAD CARS 1915 - 
1920, Krtodoa (teakl nragani. Fi8y 
vesksadade/jorpeHeOaicaw, hor 
■tamranL Sobol DeYoung, Hovw 
term. 32 AQdo JM Norway. Tel 02. 
565732 or D2-4217&. 


SHOPPING 


SOOKL 45 South Audby Sirta. Lon- 
don W1.T«tal-4930*a near Amon- 
an Embaur- Exdwwe cWdram 
wear. Hand made m England. 1-16 
yean + orand oyta from France & 
My- Brim ton odran veto you & we 
vttgive Q off any purdsMawr E20. 


ESCORTS & GUIDES 


INTERNATIONAL 

ESCORT 


USA A WORLDWIDE 

Head office in New York 
330 W. 56th Si, NYjC. 10019 USA 

212-76S-7896 

212-765-7754 

MAJOR OHXT CARDS AND 
CHEOCS Accms 


Tbb award-wMM eerviee b 
.been featured a* (he toe 6 m 
«Mn B«rf Sendee 6f 
(ISA A - ' 


radio and TV. 


* USA A TRANSWORLD 

A-AMBUCAN 

ESCORT SStVKX. 

B/BEYWHSE YOU Affi OR GOL.. 

1-813-921-7946 

Caf free from US.- 1-800237-0^ 
Cr4 fiee from Hotidai 1-80t>2<G4»92 
Laeel Eadern w eto eme* you back! 


CAPRICE 

ESCORT SBtVKE 

M NEW YORK 

THj 212-737 3291. 


LONDON 

KBCWGTON 

GKotrsema 

10 R&CMGTON CHlSOf ST.WI 
TO* 9379134 OR 9379113 . 

AX rajer <ra£l tank atraptad. 


LONDON 

BELGRAVIA 

Ewart Service 

Tab 736 5877. 


LONDON 

ftrtman Escort Agency 

67 OUtern SlreNf 

tendon W1 

T* 4M 3734 or 4*6 IIS* 
Al ranfaf (wR cento (nepted 


★VIENNA* 

E*e’» Enert-Senriee TeL 46C2085 


ESCORTS A GUIDES 


* LONDON * 

EXECUTIVE ESCORT SBtVKE 
01-139 2300 or 01-229 4794 


LONDON 

OAY/EVENMG ESCORT A08KY 

TBL- 724 2972 


ARtSTOCATS 


128 Womore 9. London W.l. 
M motor Cmk Canto Acceftad 
Tel: 437 47 41 / 4742 


12 i 


LONDON 

AND KATHROW 

ESCORT SBtVKE 01-609 0083 


MAYFAIR CLUB 

CUKS HVlg «raw Spot 
SOTTBDAM j0n0-2»l1U 
THE HAGUE (0)70-60 79 96 


MADRID INTL 

escort sam _ 

TBj 24S6648. OKBXT CARDS 


ZURICH 

GM0BCS ESOOtT SERVICE 
TOj 01/363 08 64 


★ JASMINE ★ 

AMSTEKXAM ESCORT SKV)C£ 
TBi 020-366655 


ZURICH 

AIGQS ESCORT SBtVKE 
TO: 01-47 » 82/ 69 55 04 


★★LONDON ROXANE** 

ESCORT 5aVKE 

01-225 B36t 12 eoon-1? tehWgM 


AMSTERDAM 182197 

PRIVATE (AOY ESCORT 
Inti Travel + W eekend Service 


ESCORTS & GUIDES 


CLASS ESCORT SBVICE 

LONDON, HEATHROW/ GATWICK 
Tel: 01 890 0873 


L0MX3N 

BAYSWATBt ESCORT SERVICE 
TO: 01-229 0776 


PRESTIGE 

LONDON ESCORT SERVICE 
Tel: 988 3163 / 08833 3163 


ROME CUtt BJBOfCJSOORT 
8 Guide Servicw.Tto 06/589 2604-589 
1146 (from 4 pro to 10 pt>4 


GENEVA ★BEAUTY* 

ESCORT SERVICE. 022/29 51 30 


GBIEV A ESCORT 

sanncE. Ttt. 46 09 28 


*★ MADRID GIPSY *★ 

ESCORT SERVICE. Tet 233-03.19 


ROME CUB EUROKE5CORT 
& Guide SerriceJeii 06/589 2604- 589 
1146 (from 4 pm to 10 pn) 


CHBSEA ESCORT SaiVICE. 

51 Beoudicenp Ptoca, London SW3. 
Tat: 01 5B4 6513^49 (4-12 fM 


MAHtOASE 
BCORT A RAVa SBtVKE 
LONDON 01-402 3823 


LONDON JACKIE 

eS00Rr5OVKE 121 0213 


MAGIC * TOUCH 

EtMrt Sendee. LONDON 748 S569 


★★★★★★GEPCVA BBT 

ESCORT satVKE. 022 / 16 15 95 


AMSTBDAM BARBARA 

ESCORT SERVICE- 020454344 


AMSTBDAM KIM SUE 

ESCORT SatVKX. 020953892 


HtAMOUtr + SURROUKXN65 
Cvoine i beat + Travel Senna. 
fiuUv Frandi, Spansh & Germ 
snnn. Plegse n Watt Germcny 
060/435/ 63 


VBMA ESCORT - AGB4CY 
TBi 37 52 39 


QBCVA .HBSC ESCORT SERVICE 
Tet 36 29 32 


ESCORTS & GUIDES 


LONDON TOP BCORT saVKE 
Heatoraw. Americae Exprau. 352 B343 


HtANKFURT AREA. BABBlFS fa- 
male and mala Ungual Escort and 
Travel Service. Trtff 69-62 88 05. 
Cradt carto accepted 


DIANA ESCORT SERVICE London / 
Hoathmw / Gotwkk. Rng 01-397- 
0608. 


NEW YQRIC MIA. Renee & Gabritte 
Escort Service. 212751-4535. Carte 
Hood* 8, Diner*. 


DUSSBDORF - COtOGEE - BONN 
+ area Pan's Eacort & ti ovel rat- 
vice. Al credo conk 0211-393066 


OUSEUXMF - COLOGNE - BONN 
Exdiann Eicorf + Travel Service. 
Tet 0211-6799863. 


AMSTERDAM. 

■ Hogoe, Sodenfan. ■■ 
Setviai.Awdetdoin|0031j 


MILANO + LUGANO ESCORT ser- 
vice, guide and travel service. Teb 
Mot 02/685035 


VIENNA CLEOPATRA Escort Service. 
Tefc 52 73 88 or 47 70 35. 


VBMA ETORE ESCORT SERVICE 
M 56 78 55 


MADRU) IMPACT escort and gade 
service. Mtti fayd 261 4142 


VBMA YOUNG ESCORT SBEVKL 
Conto* 83 33 71 


HtANKRJRT + 5WROUNOMGS Es- 
cort Service. 069/364656 Visa & DC 


(ONDQN A fCATHROW. VIVB4 Es- 
I corf ScrvfOB. Tofc Plf 386 76 TIM 


KOILANOJB ESCORT SBTVTCE. 028- 
222785. 038944530, 02997-3685. 


LONDON ESCORT AG04CY. 
TeL 935 5339. 


LONDON ESCORT saVKL Tet 937 

6574. _ 


LONDON TRURE ESCORT Service. 
TeL 01-373 8849. 


LONDON ZARA BCORT Service. 
Heotorovv/GafaridL Tefc 834 7945. 


LONDON, R9NCH E5CT3RT Service. 
1 ptivllOTtTdPIl 589 49Q0. 


MADRID SELECTIONS ESCORT 5w- 
m TeL 4011507. OodtConh 


VBMA VP ESCORT SERVICE. Tdfe 
Wennd 6541 SB 


VBMA O) - ESCORT SKVTCE 
0222/9205613 


DONUMQUE ESCORT 
London Tot 01-402 1W3 


SERVICE. 


LONDON rASMW eSCjORT and 
travd service. TeL 326 8459. 


LONDON Franch/GwoOT Afcra 
Scsvke. Tet 01-381 68P , 


SOPHSIKATED ESC ORT IBMCE. 
[ London PH ffl DISA RM 


HEATWOW LONDON ESCORT Set- 
war, Tel PW6682 


ATHBfi Beam AND 0UDE Ser- 
vice. T«fc 8086194. 


UNION SOPNSTfCATED Esmrt 
Service. Tel 014S5 2117. 


MUMCHJ5C0BT SRVKE Cat 
089/33 50 20 ar 069/35 M21Z 


GA&BSEAN ESCORT 5BEVMX. U»- 
don 01-724 1859 


Z0E LONDON ESCORT Agency. Ion- 
den & Gaftnek 01-579 7556 


ESCORTS St GUIDES 


fRANKRiRT - EVA'S ESCORT & irav- 
d service. TeL 069/44 77 75 


SMGAPORE InternatiOTol Guide Str- 
Trib Sinfltexxe 734 9628. 


ZURICH LORM ESCORT Service. TeL 
01/69 58 71 


CHAXLB4E GBSVA Grade Service. 
TeL 283-397 


KAMOURT SONIA ESCORT Ser- 
vo. TeL 06948 34 42L 


LONDON EMMANUHIE farart Ser- 
va. TeL 01-730 1840 


NEW YORK - ETHOPLAN ESCORT 
Service, nnjfflogud. (2121 777-55*3. 


CBffiVA - AN(A BCORT SaVKE 
IMfegd. Tele 34 29 £5. ■ 


UU5SB5. CHANT AL ESCORT Ser- 
vice: Tek 02/520 23 65 


MUNCH WELCOME Etcort Ssxr 
Tel: 91 84 39 


BRUSSELS M)CHBi£ BCORT and 
guidn i crwoe. TeL 733 07 98 


SUSSOS. ANTWERP NATASCHA 

Escort Service. Tel: 02/731 7641 . 


DOMMA AMSTBDAM ESCORT 
Guide Service. TeL (0201 762842 


FRANKHJIT - RUST CLASS Escort 
Service. 069/681740 


IVANUm/MUNKH Mato Efcort 
Service. 069/386441 A 087/3518226. 


FRANKRIRT - CAIEN ESCORT Ser- 
vice. TeL 88 62 88 - 56 56 17 


FRANKROT JEFMY BCORT & travel 
Tet 069/55-72.10. 


FRAMOURT - PETRA Escort £ Travel 
Seneca. TeL 069 / 68 24 05 


GINA'S BCORT SERVICE. Frankfurt 
069/5568 26. . 


MUNICH SUREME ESCORT Servica 
TeL 089/4486038 


AMSTERDAM FOUR ROSES Escort 
S-vicn ffl 20-964376 


BRJTTA DANISH ESCORT Seneu - 6 
longuagra. Loncfan 01730 6518- 


DUSSHfJOIMOtOGft fiuriafi B. 
cart + travel Service 0211.’ 3§31 41. 


AMSTERDAM JEAMET Escort Service 
|TrtP2t8 32M2Pcr340ritt ■ 


FRAMWW*TfOPTBT Escort Ser- 
woe. 069/59-60-52. 


FRANKRJRT AREA. SIMONFS Es- 
cort A Trcvef Service. (0)69- 62 M 32 


(HAMBUtGi FBNGES5 Escort 
Gudr Service. Tet 25 <19 54. 


HAMBURG - SABRINA Escort Ser- 
vice. TeL 040/58 65 35. 


HONGKONG/ KOWLOON: 724 33 
01 Sooitoli Escort Servo 


MJWCH -. PRIVATE BCORT 
Guide Service. TeL 91 23 14 


NEW YORK MM 

I Bdli Escort Service. 


gganffssr 


AMSTERDAM BERN ADETTE 

■Senna ffi 20-329716 


Escort 


NLEtt 




LONDON GEME ESCORT Stai™' 

TeL 370 7151. 
















































SORRV YOU G 4 N I T JOIN 
US BUT WVE HAVE TO EAT 

a? m&sr-' 


* AND THE 

vM&y he tips, 
rrts asoop 
„ ioeA ' 


ACROSS 
1 Twofold 

6 Footless 
animal 
19 Plant pest 

14 ease 

(uncomfort- 

able) 

15 "The Forty 

Days or 

Dagh" 

IS Maple genus 

17 while 

(linger) 

18 Perform 
musically 
although 
untrained 

29 Snowflakes 

22 jongg 

23 Panay native 

24 Sandra of films 

25 Hebrew letter 
28 Goddess of 

youth 

30 Citadel of 
Moscow 

32 End 

34 Land once 
Chosen 

35 loss for 

words 

37 Gulf of Guinea 
feeder 

38 A date in 
Roma 

39 Synthetic fiber 

41 Call day 

42 Actor Alan 
from Attest ree 

44 Dark hues, in 
poesy 

45 Mollifies 

47 . . unto us 

is given" 


48 Kingdom 

49 Author 
Fleming 

51 Ski star 

Doizauer 

53 Arafat’s org. 

54 Basketball 
strategy 

57 Tries to gam 
favor 

■61 "Humoris 

. . Gilbert 

62 Bonn title 

63 Kind of agent 

or house 

64 Geometric 
figures: Comb 
form 

65 Thought.: 
Comb, form 

66 Zaire's Mobutu 
Seko 

67 Ford "lemon" 


DOWN 

1 Phonograph 
record 

2 Extremist 

3 Obey the rules 

4 to 

(blockade) 

5 Virginia, to 
Ren6 

6 More than 
adequate 

7 Throb 

8 Explorer 
Johnson 

9 Distress while 
awake: Med. 

10 Willful 
violence 


11 Hood's 

diamonds 

12 Oolong, e.g. 

13 Misjudge 

11 Spain’s lslas 

21 Sweetened 
drink 

26 Pun 

27 ail 

cylinders 

29 Gym gear 

30 Actor-singer 
Kristofferson 

31 Soprano Mer- 
riman et al. 

32 Step 

(hustle) 

33 Type of box 

34 Little foxes 

35 Lyric poem 

49 Teemed 

43 War garb for . 
Richards land 
II 

46 A writing 
surface: 

Comb, form 

47 Chemical 
suffix 

49 JOIS 

50 Positive 
terminal 

52 Habituate 

55 Missouri River 
dam 

56 Alike, in Aries 

57 Letter on a key 

58 Wielded the 
baton 

59 "Happy Days' 

Here 

Again" 

CO "lsrafel" poet 


© New York Times, edited by Eugene Haleska. 

DENNIS THE MENACE 



*D0 WE HAVE TO CLEAN OUT THE WHOLE 6ARA6E OR 
JUST ENOUGH SO THE CAR WOL FINN?' 


THAT SCRAMBLED WORD GAME 
• by Henri Arnold and Bob Lee 


Unscramble these four Jumbles, 
one letter to each square, to term 
four ordinary words. 


VARBE 


h 


HAILE SELASSIE'S WAR: 

The Italian ^Ethiopian Campaign, 
1935-194-1 

By Aruhony Mockler. '454 pages. Illustrat- 
ed. $24.95. 

Random House, 201 East 50th Street, A’ew 
York. N. Y. 10022. 

Reviewed by John Gross 

F OR most of us. if we think- of it at all the 
war between Italy and Ethiopia in the 
1930$ — the Abyssinian War. as it used to be 
called — is chiefly memorable as a landmark 
cm the road leading to World War II. It con- 
jures up images of Mussolini vociferating from 
a balcony, or of Haile Selassie addressing the 
League of Nations; but beyond a vague im- 
pression of defenseless natives being bombed, 
few people today are likely to have much idea 


Uf 


BEETLE BAILEY 



ANDY CAPP 


NOW LOOK, BEFORE NOLI 
START. riOLDVOUIWflS 

T UNWORTHY OF MDU — 
BEFORE NOU RUSHED ) 

- — MFlMm *S 

B6Q{teMARRIA3E'J 


ONMDUR 
f VMCW7 -< 
WHOEVER 
SHE IS. 
SHE CAN . 

>HAVE < 

i vau* ; 


riMSD«^Mkn»N«w M u(Mr*.Ln] I 
DMI by M«w» AMnCJ Syndics!* 


AWKWAHDTWTSTHEM 
THEY^LL NE VER B ELIEVE 
NOL/RELJNVv CRTHy QFf^ 

'EWUWTL AFTBi -JJM 




WIZARD of ID 


% I 



REX MORGAN 

1 GOOD J — - 

f MORNING, JUNE t IS CLAUDIA 
BISHOP HERE VET FOR THE < 

> — “ Y HOLTEK? 

WO/ SHE PHONED V -p- mr] 
ABOUT TWENTY ) 

MINUTES AGO TO 1 . fflr~ 
SAY THAT SHE CAN'T 
MAKE IT, THAT SHE 
HAD TO ATTEND AN ZStir 
IMPORTANT MEETING JR f ^ 

AT WORK i I. 


GARFIELD 


u&9mwo.'..ecw& L.1 

ca»& 




I DONT THINK ANY N 
MEETING WOULD BE 
O MORE IMPORTANT 
3 THAW OUR DOING THE 
J HEART MONITOR ^ 
- ON HER/ DIP SHE.K 
. MAKE ANOTHER^ 
3 APPOINTMENT?* 


tHMOTc- 

Me? 



/SHE SAID 
SHED CALL 
WHEN SHE 
KNEW HER 
SCHEDULE, 
THAT SHE 
MAY HAVE 
, TO GO ON 
t THE RCAD 
WEXT WEEK/ 


TRY TO REACH 
HER FOR ME/ 





PR»P 

o»p> 


COME 

HERE, 

OPIE 


1 LET ME 
TIGHTEN 
YOUR 
f GASKET 


^DWP 

'JBURm 


of what happened in Ethiopia. 

Anthony Modeler’s fust purpose in "Haile 
Selassie’s War" is to redress this imbalance. 


Where previous writers have tended to treat 
the war, as he says, as "basically a European 
concern, a son of dramatized diplomatic histo- 
ry in which the Ethiopians played the pan 
merely of colourful extras." he sets it firmly 
and consistently in its Ethiopian context. 

Even so, the Italians are on the scene in the 
opening pages. The story starts, as far as 
Mockler is concerned, with the battle of Ado- 
wa in 1896, in which an Italian force, sent to 
subdue Ethiopia, was routed by the armies of 
Emperor Menettk n. 

Adowa may have been a picturesque affair 
— Mendik’s empress ana her attendants 
watched the fighting from a nearby hillside 
under a black umbrella "raised instead of the 
Imperial Red as a sign of grief at battle against 
f dlaw-Christians" — but it was also an ex- 
tremely bloody one. True, the Italians taken 
prisoner had little to complain of (as opposed 
to their Eritrean auxiliaries); the worst humili- 
ation inflicted on them was having one of their 
□umber led before the empress and forced to 
sing "Funiculi Funicula" and “Dolce Napoli." 
But the humiliation of the defeat was still 
rankling nearly 40 years later when Mussolini 
launched his attack. 

During the intervening decades Menelik had 
died; after a period of civil war his daughter 
had been proclaimed empress in 1916 with the 
assistance of a regent. Ras Tafari, who had 
consolidated his power by the time be became 


Solution to Previous Puzzle 


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S3D0 □□□ 

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□□□□ ClQDClQlQCklBS 

ragman man 
□Eangga oHaaiia 
□can aaaao gaaci 

EH0EI □□□□□ DI3E3I3 

□ebb agaaao bhbc j 


emperor in l°30 under the name of Haiki 
Selassie. 

Mockler ghes a fa>cinatinc account of Hade 
Selassie’s earl) career, and oThisdeieraunatioa 
to modernize his exotic feudal empire He 
hired Belgians lo tram and equip hu army, 
imported foreign advisers to supervise legal 
reforms, sent an envoy to Tokyo to see what 
could be -earned from the Japanese example. 
Bui all his plans were cut short by the Italian 
invasion. 

Could it have been averted? The immediate 
cause was an outbreak of fighting al Wahrai, 
near the border with Italian Somaliland, that 
led the Ethiopian government to protest to the 
League of Nations — a wise move politically, 
in Moellers view, but a psychological blunder, 
since if forced Mussolini into a position where 
to climb down would have been to admit that 
he was in the wrong (something dictators And 
it difficult todoi. Further, Mussolini had been 
con lempla ting an invasion of Ethiopia for 
some years, so it would have born a distinct 
possibility even without Walwal. 

The war was marked bv great savagely. 
Neither side took many pnsoners. and there 
were cruel reprisals — a” bombing was avenged 
by a beheading, a beheading was avenged by 
die use of mustard gas. But while i; may be true 
that "the Italian frighifulness in the air was 
equalled by (he Ethiopian frightfulness on the 
ground.” air superiority was so decisive that it 
is hard not to feel that the Italians were more 
culpable (quite apart from die fan that they 
were the aggressors). 

.After Haile Selassie went into exile (setting 
up house in England, a country where he had 
many admirers, in a villa in Bath) and after his 
capital, Addis Ababa, was captured, the Ital- 
ians annexed Ethiopia and merged it with 
Italian Somaliland and Eritrea (o form the new 
state of Africa Orientate I tali ana, or Italian 
East Africa (a colony Mussolini never visited, 
incidentally). What is sinking about the regime 
thus established. Mockler writes, “is the extent 
to which it was not just a military-colonial but 
a specifically Fascist regime.” 

Marsha) Graziani. viceroy from June 1936 to 
November 1937. had already earned himself a 
reputation for brutality putting down rebel- 
lions in North Africa. After an attempt to 
assassinate him in Addis Ababa, members of 
the Fascist Party in the capital were given carte 
blanche to take revenge, and thousands of 
Ethiopians were slaughtered. When the monks 
in Debra Libanos, Ethiopia’s most famous 
monastery, were executed an Graziani's orders 
in 1937. it had the effect of reawakening resis- 
tance throughout the country. 

In June 1940 Italy declared war on Britain 
and France, and fighting spread to East Africa. 
Later the same month Haile Selassie arrived in 
Sudan, and the following May he entered Ad- 
dis Ababa in triumph. “Despile some initial 
disasters, the British gradually got Lhe upper 
hand; in Ethiopia the tide had been turned py 
the “Gideon Force.” a motley collection of 
troops under the command of the abrasive but 
inspired Grde Wingate (whose eccentricities 
included summoning his subordinates for in- 
terviews "which be would conduct quite naked, 
scrubbing hims elf with toothbrushes"). 

Wingate is one of many strange characters 
who pass through the pages of "Halle Selassie’s 
War/' Mockler does full justice to the fantastic 
aspects of the story; he writes with an unobtru- 
sive wit, and keeps the narrative flowing. 

John Gross is on [he staff of The New York 
Tunes. 


By Alan Tmscott 

O N the diagramed deal, 
North-South found their 
way to the perfect contract in 
the face of a pre-emptive open- 
ing. 

East-West were using the 
Natnyals convention favored 
by many experts: The opening 
of four clubs promised a strong 
four-heart opening with slam 
potential. North's double 
showed some strength in dubs, 
giving his partner thoughts of 
slam. South contented himself, 
however, with a cue-bid fol- 
lowed by a bid of four spades. 

This contract would have 
produced 11 tricks, but East 
saved in five hearts. This was 


BRIDGE 


right in one way, for East- West 
can make 10 tricks in hearts, 
but wrong in another. It gave 
South another chance, and he 
ventured six dubs. He knew 
that his partner held club 
strength and probably some 
spade strength also, since East 
had not wished to defend four 
spades. 

North resisted die strong 
match-point temptation to 
correct to six spades and made 
a brilliant pass. With four 
dubs and an apparently useful 
diamond king. East could not 
judge that one more heart bid 
was needed. The slam was 
easy, since the opening heart 
lead was ruffed and trumps 
were drawn. In a spade con- 


tract there would have been no 
escape from the loss of two 
diamond tricks. 

NORTH 

*KQ1 

o W9642 
• KJ.85 

WEST (D) EAST , 

*8 *1992 

9AKJ1B8642 9Q»7* 

4QJ5 »C1 

• 8784 


SOUTH 

• AJB784 
9 — 

0 A78 

• A Q 3 2 


The bidding: 

«•« North 

Emu 


4* DM. 

Pm 

49 

DU. Pm 

Pm 

4 • 

Pm Pm 

59 

a* 

Pan Pm Pm 

We* M the bent mo. 





































INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 


Page 19 


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All-Star Game Still National’s Pastime, 6-1 


Compiled by Ov Staff From Dispatches 

MINNEAPOLIS —The Ameri- 
can League arguably bad superior 
players in' seven out of eight posi- 
tions. But the National League 
could have Added a neighborhood 
softball team behind the h riffiam 
pitching it got here Tuesday night, 
and the result might well have been 
the same. 

Five National League pitchers 
allowed just five hits and one run 
— an unearned run, at that — to- 
shut down the American League, 6- 
l, before 54.960 in die 56th All-Star 
g ame at the Metrodome. 

£Xd the -American League start- 
ers- really have 118 home runs 
puffin g them} It certainly didn’t 
seem to faze San Diego's LaMarr 

Hoyt, who pitched tie first three 

innings and got the victory, Nolazf 
Ryan, Fernando Valenznda, Jeflj 
Reardon or Goose Gossage, who 
struck out Boston’s Jim Rice and 
Rich Gedrnan to end the gome. 

The American League came into 
the mid-summer classic dearly su- 
perior in overall talent but wound 
□p losing for the 13th time in 14 
years and 36th time overall, against 
19 victories and a tie. Alla taking a 
1-0 lead in the first inning on that 
unearned run, the Americans 
couldn't score again. 

The Nationals took a 2-1 lead in 
the third on a nra-scoiing single by 
Steve Garvey of San Diego and 
made it 4- 1 in the fifth on a two-ran 
angle by Philadelphia’ s Ozzie Vir- 
giL They dosed the scaring in the 
ninth on a two-run double by Wil- 
lie McGee of Sl Louis. 

Other than the lopsided result, 
the biggest surprise was that no 
home runs were nil — especially by 
American Leaguers — in a park 
where balls routinely rocket farther 
than 400 feet 

But as National outfield- 

er Darryl Strawberry said, “Every- 
body saw the home-run hitting 
contest [staged Monday] ana 
thought the game would be like 
lhaL But the pitchers are no dum- 
mies. They saw the same thing." 

Hoyt, the 1983 American League 
Cy Young winner when be was 
with Chicago, was named the AD- 
Siar Game's most valuable player. 
“In tins league, ” he said, “Fveseen 
pitchers who can absolutdy domi- 
nate a game. “1 don't think I saw 
cmiie the Mtne kind of pitching in 
ine American League. Our pitchers 
were pumped up to the max aboui 
pitching in this game. " 

One had to wonder whether the 
American League would have man- 
aged as much as a angle hit if — in 
addition to Hoyt, Ryan and the rest 
— it had to face the Nationals’ two 
best pittihers, Dwight Gooden, (13- 
3) who didn't pitch, and Joaquin 
Andujar (154), who didn't even 
show up. New York Yankee Rickey ■ 
Henderson angled to start the 
game, stole second, went to third 
on catcher Teny Kennedy’s throw- 
ing error and scored on George 
Brett’s sacrifice fly. 

That was iL 

American Leaguers stole three 
bases as part of an All-Star record 
of five. But they took themselves 
oot of a possible eighth-inning raDy 
with baa baserunning. Toronto's 
Damaso Garda singled to start the 
inning, stole second and cried for 
third when the throw bounced off 
Ryne Sandberg’s' glove. But Rear- 
don got off the mound in time to 
pick up the ball and throw out 
Garda at thud. 

The bonus for the National 
cue was that Seattle’s Phil 
ley had struck out for what 
amounted to a double play. 


The American League-oriented 
crowd kept hoping to get a man or 
two on base and see a game-tight- 
ening homer, bat it never hap- 
pened. 

Ryan got tough twice when he 
had to — in two-on, two-out situa- 
tions against Henderson in the fifth 
and Yankee teammate Dave Win- 
field in the sixth. 

Ryan, who said bis control 
wasn't the best, dusted Henderson 
with a pitch under the chin before 
striking tnm out on a 3-and-2 fast- 
ball. 

He also put Winfield on his seat 
before inducing a routine ground- 
out to end the sixth. 

“Ryan is intimidating,** said Pete 
Rose, the Cincinnati player-man- 
agpr who made his AU-Star debut 
20 years ago. “1 can't believe the 
stuff he has. 

“His philosophy is, The inside 
part of the plate is mine and I'm 
not giving in to anybody.' " 

Told that Rose lad called him an 
intimidator, Ryan rigadpannwd r *1 
didn't realize T was." 

Those who expected the Ameri- 
can League power hitters to prove 
the National League’s low-scoring 
season is a farce, waited in vain. 


Hoyt had a most reasonable expla- 
nation for what happened to the 
American League hitters: 

‘They’ve got a lot (rf big swingers 
over there, teg hoppers who can go 
deep. But (hey can be pitched to, 
and it tends to show up m All-Star 


Hoyt said be was surprised the 
National League didn’t hit any 
homers, bat said he knew once he 
left the game after die third “that 
they ‘weren’t going to hit any home 
runs off any of those other gays." 

National League Manager Dick 
Williams of San Diego went into 
the game with the idea of letting 
Hoyt and Ryan go three inning s 
apiece, Valenzuela and Reardon 
one «»gfr and then have Gossage 

mop up. Done. 

Hoyt gave up two angles, Ryan 
two more and Reardon one. 

The American Lewie pitchers, 
meanwhile, were rongned up. Start- 
er Jack Moms obviously didn't 
have his best stuff (he bounced sev- 
eral balls in front ol the plate). In 
fact, the vaunted Detroit staff got 
roughed up pretty well in front of 
their American League skipper, 
Sparky Anderson, 

Morris, the starter, gave up the 


first two tuns. And Dan 
could retire oily one batter, 
walking three. The 1984 Cy Young 
winner, relief ace Willie Hernan- 
dez, did not allow an earned run. 
But Hernandez did give up 
McGee’s double, which if it didn't 
botmpe over the wall might have 
frvtfd op as an inside-tb e-dome 
homer. 

Tm Sony it bounced over the 
fence," McGee said. “It would 
have been great to see rim would 
have happened if I kept running, 
but it's a nice memory 

Morris ended his streak of five 
scoreless inning s in AU-Star pi 
“T didn't pitch as wdl as I 
have liked,” he said. 

Brett, despite what he called “a 
lot of vim and vigor on our ride," 
said he thought Monday’s home 
run hitting contest, which the 
American League won, 17-16, be- 
fore 46,000, was more exciting than 
the game. 

Replied National Leaguer Vir- 
gil: “It wasn’t boring to us. We 
won." ’ (WP, LAT) 

■ AH-Star Notes 

• Detroit second baseman Lon 
Whitaker forgot to bring his uni- 


form shirt with him. The Tigers 
mailed him another one, but appar- 
ently it was lost at the Minneapolis 
airport. Whitaker played in a $15 
Tiger jersey purchased at one of the 
Metrotomes souvenir stands. A 
No. 1 was takes off one of Willie 
Hernandez's extra uniforms and 
traced onto Whitaker's with a fell- 
dp pen. Whitaker apparently for- 
got his glove, too; he had to borrow 
one from Baltimore shortstop Cal 
Ripken. 

• Five San Diego Padres started 
for the National League, the first 
time five teammates nave started 
since 1976, when Qndnnati had 
five — Joe Morgan, Dave Concep- 
cion, Rose, George Foster and 
Johnny Bench. 

• For the first time in five sea- 
sons, there were no rookies on ei- 
ther team. 

• Brett, on playing AU-Star 
Gaines in domed stadiums: “It re- 
minds me of being told as a child to 
go to your room and you can't go 
outside and play." 

• Rose, 44 and a National 
League All-Star for the 17th time: 
“I'm glad 1 made the team. A lot of 
players like to take the three days 
off. But the good ones don't.” 



EfeiwU-bM I Or< resend 

A relay throw eluded catcher Carlton Fisk, but only after Darryl Strawberry and Tim Wal- 
lach bad scored on Ozzie Virgo's fifth-inning single, upping the National League lead to 4-1. 


A Subpar U.S. Crew Leaves British Open Wide Open 





BMw»Unttad Ami litonafl 

Defending champion Severiano Ballesteros. 


SCOREBOARD 


All-Star Baseball 


Cycling 


1985 Box Score 


1-v " 


obrbttJ 

Gwvnn If 1 D 0 S 
Cruz H 1000 
Rotom If 0 1 0 0 
H*rr 3t> a l 1 O 
RVBl 0 10 0 8 
Peno e 1 0 0 O 
Corvov lb 3 0 11 
Clark lb 1 0 0 0 

Murptw cf 3 B 1 0 
MeGtoaiO I » 
StrWbnr rf 1 3 1 0 
Porker rt 2 t>0 0 
Hetties 3b 2 00 0 
WoUocti 3b 2 > 1 0 
Kennedy c ! 0 I I 
V»roU c I o I 3 
Vrienzul a 0 0 0 0 
Rom eh tool 
Reardon p till 
Whan eh j o O 0 
Ganaaep 0000 
Smith n 4 0 00 
Hovl >1000 
Tntttn mi i 0 1 a 
MOre a, 110 0 


ToWs 


American 


American 

oftrfi&l 
Hendrsn cf 3 110 
Mol Itor 3b 1 0 0 0 
WMttkr 2b 2 0 0 0 
Gordo 2b 2 0 I 0 
Brett 3b 7 0 0 1 
Brad lev cf 1 0 0 0 
Petrv p 0 0 0 0 
Herrmdz p 0 0 0 0 
Murray lb 3 0 0 0 
Brrvrsfcy rfl 0 0 0 
Ripken ss 3 0 1 O 
Tram ml go 1 0 0 0 
WMflehj rt 3 0 1 0 
Moore p 0 0 0 0 
Booas 3b o 0 0 0 
Rice If 3 0 0 0 
Fisk c 2 0 0 0 
Whitt c 0 0 0 0 
word pn i ooo 
Gaamon r nil 
Morris p D 0 0 0 
Kev p 0 0 0 0 
Babies ph 1010 
'Btvleven pOOO 0 
Cooper ph 0 0 0 0 

snob p o o o a 

Mniotv ibl 0 0 0 
Totals Kill 
III 020 003- i 
100 M0 000- 1 


Tour de France 

MEN 

EIGHTEENTH STAGE 
ut Lea: Lo z St.sauvour to CM iTAiiMsnw 
1525 Kilometers / 324 Miles) 
i. Stephen Roche, Ireland, i hour, 39 mbs 
utes. 19 seconds 

Z Sean Kefir, Ireland!, of I minute. 3 sec 
onds behind 

X Paul WMiens. Belgium, at 1:07 

4. Luts Herrera. CotomOia, at 1:15 

5. Phil Anderson, Australia, same Him 

6. Pectro Defaaeks Spain. 5.T. 

7. Greg (jeMond. US. S.T. 

X Bernard Hinault, France, at 1:30 
9. Beat Breu, Switzer-fond, S.T. 

IX Niki Ruttlmann. Switzerland, at 1:56 
IL Fabkt Parra. CdkxnMo. at 2:18 
IX Alvaro Pine. Spain, at 2:13 
IX Eric CarHoux. France, at 2:19 
14 Eddy Softeners. Belgium, &.T. 

IS. Jesus Rodriguez Magro, Spain, S.T. 

3d ue: Lam « fa Poo 
(0X5 Kilometers) 

1 . Regis Stmort Fronce.2 hours, 22 minutes 
S seconds 


Track and Field 


.4 4. 


Gome- warning RB I —Garvey. E — Kennedy. 
DP-Nottongl 1. LOB— National IS, American 
7 - 28— Herr, Murnhy, Walloch, McGee. SB— 
Henderson, Strawberry, Winfield, Cruz, Gar- 
da. SF— Brett 

PITCHING 

IP H RERBBSO 


V ■.) 


Mart (wi 
Rvan 

VatarauMd 
Rowan 
Gossage 
American 
Morris ILI 
Kev 

BMevsn 

SIM) 


7 0 0 0 
0 0 2 2 


0 1 1 
0 0 1 
0 1 3 


22-3 S 3 2 1 1 

014 0 0 0 0 0 

2 3 2 2 1 1 

1 0 0 0 1 2 

2 0 0 0 0 1 

Prtnr 014 0 3 2 3 1 

Hernandez 024 T 0 0 1 2 

H 0P — Strawberry by Blvtevsn. WP— VO- 
fenawh 

Attendance— 54W0. Tim*— 2:54 


1500-Meter Records 

WorhLrecmd pertarmanca In the 1500 ow- 
let* Since *954; 

Jsfyon ftazsavoigyj, Hungary; Auo. X 1036 
— 3:«U 

Olavl sabot, Finland; July II. 1957— 3:«*2 
Stanislav jurawinh, CiKftasinvafcIa; July 
13. 1957 - 3:38.1 

Herb EUtoffc Auttrotto; Aoft. 2S. IIS* — 
3:340 

Herb emoil. Australia; 3ept.HM0— 3:3Si 
Jim Ryim. UA: July A 1M7 — 3:3X1 
Filbert BavL Tanzania; Feb.2,19H— 3:3X2 
Sebastian Coe, Britain; Awl IS TOW — 
3:3X1 

Sieve Ovett Britain; July IS 1900 — 3:3X1 
Sieve Overt. Britain; Auo. 27. 1900 — 3:3136 
Sydney Morse, US,- Awl 2& 1983 — 3:31.34 
Steve Overt, Britain; Sapt. 4 1983 — 3:3037 
Steve cram. Britain; July IS 1985 —3 129.47 


X Alvora Pino. Spain, same time 
X Sean Kelly, Ireland, at 1 minute. 7 see 
and* behind leader 

4 Adrte VOn der Peel Netherlands. ST. 
5. Stephen Roche, Ireland. ST. 

4. Greg LeMancL US, ST. 

7. Phil Andenon, Australia. ST. 

5 Eddv Scftepers. Belgium, ST. 

9. Pella ftulz Cobeafanv.- Spain, ST. 
to, inakl Gaston. Spain, ST. 

11. Johan Lnmmort*. Netherlands. ST. 

IX Pedro Delgado, Spain. ST. 

U. Jesus Rodriguez Magro. Spain, ST. 

14 Bernard Hinault, France. ST. 

15 Claude Criteria lion. Belgium, ST. 

Oveans sroadftsK 

1. Bernard Hinoult, Francs 95 hours 31 
minutes 14 seconds 

X Greg LeMond, U.S.2 minutes, 13 seconds 
behind 

X Stephen Roche, Ireland, at 3:33 

4 Sean Kelly, Ireland, at 5:55 

5 PMI Andemn, Australia at 7:14 

4 Pedro Delgado, Spate, al 0:06 
7. Luis Herrera Cotocntria at 0:30 

5 FaMe Parra Colombia, at 9:51 • 

9. Eduardo Chezoe, Spain, al 11:18 

IX Jaap Zootemolk. Netherlands, al list 
11. Niu RuttlmcKM. Switzerland, at 12: as 

IX Robert fMlkr. Britain, at 12:04 
IX Peter Wlrem, Netherlands, ai 12:34 

14 Eddy Scftepers. Belgium, at 13:19 

15 Stevo Bauer, Canada al 13:36 
IS Robert Forest, France, at m: 2S 
17. Cotes! teo Prieto, Spain, at 15:17 

is Claude Crlau teflon, Belgium, at 16:54 
19. Pascal simen. Franca, of T7U8 
2X Atvora Pina Spain, at 18:04 
21. Pierre Bazza France, of 19:14 
2X Oomtahtue Arnawd. France, at 32:17 
23. Boat Breu, Switzerland, at 23:30 
24 Steven Rooks. Nethertonus, at 37:2S 
25. Jerome Simon, France, at 38:14 


Transition 


-«i jw 




rsir*^. 


Records Set 


European Soccer 


BASEBALL 
American League 

CHICAGO— Traded Tom Padoratt. oul- 
flekJcr, to the N.Y. Mels for Dave Cochrane, 
tefMdar. Assumed Cochrane to Buffalo of the 
American Association. 

National Le a gue 

NEW YORK— Optioned John Christenson, 
outfielder, to Tidewater of the InltmafiMsi 


* • .• 
' • *S. • 1 . , 


Records set ol tee 1983 AIMtarGame at Hi« 
M e lr o d B um la MhmeapoBs: 

INDIVIDUAL 

(OBStgaaesMilwd: 6-Rkh Gossan. No. 
<tontd League 1977. 1B84 198S; American 
Lwue 1975, 1978, 1980 

TEAM 

r eweriej d imiinehn>.Beeciiib:0— Atnert- 

League ; Hn record set 6 limes, test In 
1943 by National League. 

Mest stolen bases, bate dobs: 5— lAmerL 
«« X Motional 2); orevious record 4 11934 
19m 1984). 

Fewest home mas, both dabs; 0— Thu re- 
■ram set w times, text tn 197& 


FRENCH FIRST DIVISION 
Toulon a Nantes 0 
Strasbourg 1, Rennes I 
Metz X Lens 3 
Lille 1 Brest I 
Monaco 1, Snehaux 1 
Bordeaux 1, Nice 0 
Le Havre 1, Marseille 0 
Bostic Z Porfs-SG 4 
TaukwM 4 Nancy 1 
Laval X Auxerre 8 

PdlotsStaadhKK: Touh>use.Pcri5-SG- Lille, 
LeM.Bcrdewx.Le Havre!; Monaco. Rennes, 
-Socftou*. Sfrasbovra, Auxerre, Lavat Nontax 
Teuton 1; Metz, Monel lie, Nice, Bad la Brest, 
Nancy x 


SAN FRANCISCO— Assigned Hu contract 
of Gary Rafskh. outfielder, from Phoenix of 
the Pacific Coast League to Lxricvllla at the 
American Ass oci at ion. 

BASKETBALL 

National Basketball AswdatlM 

DENVER— Stoned Barry Stevens, guard. 

FOOTBALL 

NaKoaal Football League 

HOUSTON— Skmed Frank Bush, lineback- 
er. 

DENVER— Signed Deltas Cameron, defen- 
jh* hzcUa, Vance Johnson, adds nwahw, 
and Simon Fletcher, dafanstuB end. 

INDIANAPOLIS— Signed Andre Pinesgtb 
defensiwt tackle. 

LA. RAMS— Stoned Duval Love, guard, and 
Marfan McIntyre, running back. 


By John Feinstrin 

Washington Past Sender 

SANDWICH. England — If a 
golf tournament can have a last- 
minute theme, the 1985 British - 
Open has one: Where are the 
Americans? 

Yes, Tom Watson is here, fid- 
dling with a new putter in an at- 
tempt to break a yearlong slump. 
Yes, Jack Nicldans is here, confi- 
dent after a second-place finish in 
the recent Canadian Open and 
happy after a hole-in-one daring 
Tuesday's practice round. 

Also present are Lee Trevino, 
Fuzzy Zocfler, Craig Stadler, Tom 
Kite and Bill Rogers, who won here 
at Royal SL George's in 1981. 

But even with all those f amiliar 
names, two things are noticeably 
different: The second echelon of 
US. players is misting, and those 
in die first are not considered top 
contenders In the tournament that 
starts on Thursday. 

“I think a lot of guys stayed 
home because of the golf course,” 
Nicklaus said. “Not that it's a bad 
golf course, but it doesn't have the 
tradition of Sl Andrews, Muirfidd 
or Birkdale. TTI play here every 
year, no matter where the tourna- 
ment is held. But a lot of guys don't 
feel that way." 

Amongtliose in that category are . 
Curtis Strange, the leading money 
winner on the 1985 PGA tour at 
5530,000; Fred Couples, who fin- 
ished fourth last year at Sl An- 


Jeny Pale, - Hale Irwin, Calvin 
Pbete, Hal Sutton, Johnny Miller, 
Hubert Green and the U.S, Open 
champion, Andy North. All are 
slapping the British Open. 

Even Arnold Palmer, who helped 
make the British Open a great tour- 
naroeot with victories in 1961 and 
1962, stayed home for the first time 
in 25 years. 

Why? 

“I think a lot of it gets back to 
money,” said Peter Jacobsen, who 
had to qualify the first time he 
played here three years ago. “I 
came and IH always come because 
to me the open is one erf the big 


events, if not the event, in golf- 1 
could never imagine haying the 
chance io play and not doing iL 

“But a lot of guys look at the 
money and not the tradition. Fif- 
teen years ago, your year was 
judged by how many tournaments 
you won. Now it’s judged by how 
much money you win. A guy can 
make $150,000 and never finish 
higher than fourth. It’s too bad that 
guys think that way, but I think a 
loi of them do." 

In all. there are only 32 U.S. 
players in the field of 153. Only 
eight of the top 20 money winners 
on the U.S. lour are here. And, for 
the fust time in memory, the two 
given the best chance to win are 
Europeans; defending champion 
Severiano Ballesteros and Masters 
champio n Bernhard Langer. 

. □ 

That probably would not be the 
case if Strange were here. “I'm sur- 
prised and disappointed that there 
isn’t a beuer American representa- 
tion,” said Watson, who has won 
this tournament five times and was 
second last year. It could make my 
job a lot easier, though- because I 
was going to bet on Curtis to win. 

“I can’t offer a reasonable an- 
swer why so many guys aren’t here. 
In Curtis’s case, it can’t possibly be 
the cost, because he’s won oyer 
S 500.000 this year. He could have 
chartered a Concorde to make the 
trip if he wanted.” 

Strange said last week he wanted 
to take some time off to be with his 
family. 

Gary Player, who has won this 
tournament three tiroes, also is baf- 
fled by top Americans who chose 
not io come. “Men like Arnold 
Palmer, Jack Nicklaus, Tom Wat- 
son and Lee Trevino have all un- 
derstood the importance of the 
British Open," he said. “Others ap- 
parently don’L 

“It certainly isn't for me to tell 
Curtis Strange what is right for 
him, but I thmk he’s making a mis- 
take. He's going to break the earn- 
ings record [set by Watson in 1980}, 
but if he won the British Open it 
would be worth five times to him in 


income what he’s making playing 
in the stales. 

Ballesteros regretted Strange’s 
skipping the tournament. “Maybe 
the Americans are afraid of the 
course or maybe they don’t want to 
travel. I do think Strange should be 

here, though-" 

Nicklaus offered another theory 
on the non- American invasion; 
“Look at the list of gpys not com- 
ing. 1 think most of them don't feel 
they have a realistic chance of win- 
ning. If they did, they would be 
here. How many in the top 20 who 
aren't here have won the tourna- 
ment? If a guy thinks he can win. 
he’ll be here regardless of the cost, 
regardless of the course, regardless 
of the inconvenience. 

“But if he doesn't really think he 
can win and he’s going to play most 
years, then this year, playing a non- 
iraditional course, would be the 
one to skip." 

Given Watson’s prolonged 
slump (he has not won a tourna- 
ment in more than a year) and 
oven the rise of such players as 
Ballesteros — who has won the 
Irish and French Opens in the last 
mouth — Langer and Australian 
Greg Norman, the odds seem ex- 
cellent that a non-American will 
win here for only the fourth time in 
the last [6 years. 

That concerns' the ILS. oontin- 
gpnL “They do some flag-waving 
over here,” said Jacobson. “So you 
really do want to see our guys do 
weH I know I pay more attention 
to see bow Lanny Wadltins, Tom 
Watson and Lee Trevino are doing 
when I'm here than when I’m at 
home. “I dream about winning this 
tournament and 1 really think some 
day 1 will win iL But if 1 can't, Td 
like to see another American do iL" 

Rogers did in 1981. That was the 
year Royal Sl George’s was re« 
turned to the open rotation after a 
32-year absence. The dub is about 
90 miles (145 kilometers) south of 
London on England’s Eastern 
coasL Although it is, like the Scot- 
tish courses, a links, bounded by 
Sandwich Bay (which leads out u> 
the En glish Channel) it has none of 


the Scottish history and lots of 
blind shots. 

“I’ve spent the last two days just 
trying to figure out which chimney 
or nigpole to line my shots up on." 
said Nicklaus. who shot a firsi- 
round 83 here four years ago- “It’s 
definitely a different golf course." 

Next year, the open returns to 


Scotland, at Tumberry. site of the 
famous Waison-Nickiaus duel in 
1977. Will the Americans be back 
ihm? 

“On the traditional Scottish 
course. 1 think you'll see everyone 
playing." Nicklaus said. “Put die 
tournament at St. Andrews, and 
you'll see 20 ou: of the top 20 
playing." 



Bernhard Langer, Masters titiist and co-favorite in the open. 


Cram Sets 1,500 Mark 






fit*:.! 


Steve Cram 




Compiled by Our Staff From Depaidia 

NICE — Olympic silver medalist 
Steve Cram set a world record of 3 
minutes, 29.67 seconds in the 
1 ,500-meter run at an international 
track meet here Tuesday night. 
Cram, 24, battered the mark of 
3.30.77, set Sept 4, 1983, in Rieti, 
Italy, by fellow Briton Steve OvetL 

Making his move 300 meters 
from the finish. Cram went on to 
edge Moroccan Said Aouita, the 
1984 Olympic 5,000-meter gold 
medalist. 

Aouita, whose clocking of 
3:29.71 also eclipsed Ovett’s mark, 
was reduced to tears as he watched 
Cram take a victory lap. 

Jos£ L in' s Gonzalez of Spain fin- 
ished third, ahead of Steve Scott, 
who cm two-tenths of a second off 
his four-year-old UJS. record with a 
time of 3:31.76. 

“I knew I had a chance when 1 
saw the strength of the field last 
week," said Cram afterward. “I 
really felt I was alone out there. 1 
wasn’t even aware who was chasing 
me. I saw it was Aouita in the last 
10 meters. 

“The last five meters woe a bit 
of straggle, but I don’t think they 
made any difference in setting the 
record." 

Cram came dose io Ovett’s re- 
cord several weeks ago at a meet in 
Olso with a third-fastest ever 
3:3134. “1 knew 1 was getting near 
then," he said. “1 was very nervous 
here — as nervous as I’ve ever 
been." He said the formidable field 
and a cheering crowd of 18,000 
sparred him on. “It was much more 
4ia Hanging this way. I liked put- 
ting myself on the line." 

Cram, who has had intermittent 
leg problems, remained undecided 
about racing against Sebastian Coe 
at a meet Friday in London. It 
would be their fust duel at 2,500 
meters since (he Olympic final, 
when Coe won the gold. 

“I want to run there,” said Cram 
after setting the record, “but a 
tough race like this one could have 
a delayed aftereffect" (UPI,AP) 


Terrain and Campaign Drain Hinault 


By Samuel Abt 

International Mould Tribune 

PAU, France — Injured, weary 
and ailing, Bernard Hinault 
scraped through the Pyrenees on 
Wednesday with a diminished lead 
in the Tour de France bicyle race, 
but one be is almost certain to 
maintain now that the mo untains 
are pasL 

Only three long daily stages and 
an individual tim e trial remain be- 
fore the race ends Sunday in Paris, 
23 days and 4,000 kilometers (2^00 
miles) after it started. 

Hinault a 30-year-old French- 
man. who rides for the Vie Claire- 
learn, ought to be ecstatic to see the 
Champs-Elysees- His face is draws 
and there are dark pouches under 
bis eyes, the result rtf fatigue and a 
fall last Saturday in which he broke 
his nose and ripped his scalp. He is 
also suffering from a heavy cold 
and is said to have occasional trou- 
ble breathing. 

As somebody said here Wednes- 
day, be looks more like a man who 
has gone 18 rounds than 18 days. 

another^^ent F^aMt^«ms 
certain to record his fifth victory in 
the Tour de France, the world's 
most prestigious bicycle road race. 

“We’ll accept him in our dub 
with pleasure/’ said Jacques An- 
quetil, who shares with £ddy 
Merckx the record of five victories 
in a race that started in 1903 and 
has been interrupted only by world 
wars. Anquetil dominated the sport 
in the early 1960s, Merckx a decade 
later. 

Hinaultwon his first tour in 1978 
and repeated in 1979, 1980 and 
1982. He liked to say in those years 
that the only race was for second 
place, behind him, and so it ap- 
pear to be again this year after two 
threatening days in the Pyrenees 

“He’s back m form again, and I 
don’t see anybody rattling him,” 
said Greg LeMond, Hinault's 
teammate, after the finish in Pau of 
the second of Wednesday's half- 
stages. LeMond is second behind 
Hinault in least overall elapsed 
time. 2 minutes 13 seconds back. 


He has made up 3 minutes in the 
last five days. Third behind the 
American is Stephen Roche, an 
Irish rider with the Redouie team, 3 
minutes 33 seconds back of Hin- 
aulL They were the only two still 
considered to have a chance or 
overtaking Hinault in the Pyrenees, 
and Roche gave it his best effort 
Wednesday morning, winning the 
day’s first stage by a minute and 30 
seconds over Hinault. The finish 
was a fearsome climb up to the 
Aubisque Pass, 52 kilometers from 
Luz Sl Sauveur. 

Riding on a blazingly hot day 
through hundreds of thousands of 
spectators, Roche was unable to 
shake off Hinault in a group of 
eight pursuers. “Hinault looks 
stronger than he is,” the Irishman 
said. “He's fortunate that this race 
has run out of mountains.” 

Before it did, the second half- 
-stage began with another climb of 
the Aubisque, 1,710 meters high. 
The peak was crossed from west to 
east, the opposite direction from 



Bnmn 

Bernard Hinault 

/«? rounds, and more to come. 


the morning’s leg.-mid then began a 
65-kilometer descent to Pau in 
which Hinault often led the pack of 
145 riders. 

The winner this time was Regis 
Simon, a journeyman with the Rc- 
doute team; Roche finished fifth in 
the same lime as HinaulL 

LeMond had the same docking 
and was careful to spend the day 
near Hinault, his captain. The 
American caused a major flap 
Tuesday when he charged that "the 
team doesn’t want me to win." 

Furious at Ihe finish, LeMond 
accused Vie Qaire officials of not 
having allowed him to draw away 
from Hinault, who struggled badly 
during the late part of the race. 
Despite that, the Frenchman fin- 
ished bardy more than a minute 
behind LeMond. who had no prob- 
lems climbing. 

LeMond, Hinault's designated 
heir in nest year's Tour de France, 
was later called in for a conference 
with team officials, who signed him 
last fall to a Sl million contract 
over three years. 

When he emerged. LeMond was 
contrite. “1 got a little carried 
away," he admitted, explaining 
that when he had said, “this was my 
chance to wear the yellow jersey, 
one of my dreams/ be had not 
intended it the way it sounded. 

What be really meant. LeMond 
said after the debriefing, was that 
he had hoped to wear the symbol of 
leadership only for a day before 1 
returning it to Hinault. 

“If they paid me 51 million, Td 
be happy to settle for second 
place,” Roche joked Wednesday. 
Roche is looking for another em- 
ployer because the Redoute team is 
folding at the end of this season. 

Roche was quoted as having 
added that he tried to encourage 
LeMond to attack with him during 
Wednesday’s morning climb. “IT] 
take the stage and you’ll take the 
yellow jersey," he said he told Le- 
Mond, hoping 
relay. 

But. Roche reported, LeMond 
merely smiled back at him and' 
stayed close to Hinault 


ng to tempt him into a 








INTERNATIONAL HERALD TRIBUNE, THURSDAY, JULY 18, 1985 



ART BUCHWALD 

Bring Back Ma Bell 



W ASHINGTON — Gaifuikel 
called me up. “I would like 
you to become a member of the 
“Sons of Ma Bell Telephone Users 
Association.’ " 

“What’s your storyT 
“After all the hype about launch- 
ing a new improved drink, Coca- 
Cola was willing to salvage the 
original Coke. 

We hope to per- 
suade the tele- 
phone company 
to bring back the 
old Ma Bell sys- 
tem. After all. 
telephone con- 
sumers have 
taste too. The 
reason Coca- 

Cola gave in to _ . 

the public was Huchwakl 

that they couldn’t take the flak 
from their customers about their 
‘new improved product.’ If the 
Coke company can’t take the pres- 
sure, we figure the telephone com- 
pany is vulnerable as wdL” 

“Do you warn everyone to go 
back to the old phone system?" 

“No. we’re following the Coke 
marketing philosophy. We don't 
want them to drop the new way of 
providing phone service. All we're 
asking is that everyone in the Unit- 
ed States be given a choice between 
the old Ma Bell and what they have 
inflicted on all of us since. We're 
not ones to tell a user what to 
choose. Lf you like the present tele- 
phone system with its fancy prices, 
high-tech recorded voices and un- 
intelligible computer-coded item- 
ized bills, then we say slide with the 
new. If you prefer constant break- 
downs and service technicians who 
deny jurisdiction over your phone 
problem, you're probably satisfied 
with the improved product. 

Repaired Section of Wall 
To Be Opened in China 

The Associated Press 

BEUING — A newly repaired 
section of the Great Wall of China 
two kilometers (12 miles; long win 
open to die public Oct 1, easing 
congestion at the tourist site, the 
Xinhua news agency reports. 

About U milli on tourists a year 
visit the wall at Badaling Pass, the 
main section open to the public, 
and at peak times there are four 
visitors on every square meter of. 
the 2,000-year-old wall. 


ANNOUNCEMENTS 


SUBSCRIBE 

to fhe 

INTERNATIONAL 

HERALD 

TRIBUNE 

AND SAVE. 

A* a now subscriber Id Iho 
fcitemaKoncf Herald Tribune, 
you an km up so hdf 
the newsstand price, depemfcig 
on yaw country or residence. 

far detail 

on Ibis ipedd .introductory offer, 
write to: 

WT f « M|il ioo H a pte t ui ai L 
181. Avenue Ckart«^GauU. 


“But if you long for the days 
when your bills were low, a friendly 
human voice gave you information 
and the repairman was at your 
house before you hung up, then you 
should have a right to opt for the 
old system. The ‘Sons of Ma Bell* 
believe in free choice." 


“I admire your goals, but it 
seems to me that it’s easier to bring 
bade a soft drink than it is to resur- 
rect a communications system ." 

“I don’t agree with you," Garfm- 
kd said. “The Coca-Cola company 
is the most powerful institution in 
the world. If they can admit they’ve 
made a mistake, surely a piddling 
telephone system can do the same 

Til. LU J .1 r 


Disneyland Marks 
Its 30th Birthday 


By Dennis Anderson 

The Associated Pros 
A NAHEIM, California — Dis- 
/a-neyland, the granddaddy of 


theme parks, 1 
its 30th birthda; 
a 30-hour pari 
every 3.000th j 
quet of 30.0001 
The birthday 
minute after ml 


»an celebrating 
Vednesday with 
a free car for 
st and a bou- 
lloons. 

arty began one 

ight, when Tin- 


been listening to what you’re say- 
ing. Maybe the breakup of Ma BeD 
wasn’t such a good idea after alL So 
now we're giving you the choice of 
the new phone system or the ’clas- 
sic’ one you were attached to in the 
past. Our only concern is satisfying 
oar customers. Like Coca-Cola, we 
blew it, and we want to make it up 
to you.*" 

“Telephone executives hate to 
admit they mate mistakes," I said. 
“I doubt if you’ll get them to go on 
the air." 

Garfinkel said, “If the old Coke 
lovers can bring Atlanta to its 
knees, the ‘Sons of Ma Bell' should 
be able to make the phone people 
cry “uncle.’” 

□ 

“There is one thing wrong with 
your crusade," I told him. “Coca- 
Cola was able to bring back the old 
Coke because it still exists as a 
company. The telephone system 
has been broken up by the govern- 
ment, and even if the phone execs 
wanted to replicate the old system 
the Justice Department wouldn't 
let them do it Washington doesn’t 
give a hoot about the consumers." 

“The ‘Sons of Ma Bell' intend to 
ehangi* all that We'lC asking rtarh 

member of our organization to 
send every congressman and sena- 
tor 10 six-packs of empty Coca- 
Cola cans. Our message to Wash- 
ington is that the telephone is 
almost as important as a soft drink, 
and if Coke drinkers now have a 
choice between the old and the 
new, the telephone consumer has a 
right to the same thing." 


kerbell, Peter Pan’s sirridy com- 
panion, glided down from a perch 
atop the Matterhorn. As about 
7,000 people cheered, a brilliantly 
lighted rainbow shimmered be- 
hind the Sleeping Beauty Castle 
at Fantasyland. 

Visitors were treated to 
brunch, and every 3,000th guest 
throughout the first eight bouts 
of the 30-hour party will get a 
Chevrolet Cavalier convertible. 

“I think this is great,” emlted 
1 1 -year-old Greg Larson of Ana- 
heim. “I was supposed to go to 
sleep and take a nap before this, 
but I couldn’t even get to sleep." 

■ Greg’s mother, Ann, said she 
had watched the park grow up 
during its 30 years in Anaheim, 
27 nnies (43 kilometers) southeast 
of downtown Los Angeles. “We 
watched the orange groves go 
down and everything build up 
around it,” she said. 

For 12-year-old Rhonda Kight 
of Camarillo. California, the 
event was the latest in a series of 
anniversaries she has attended at 
Disneyland. 

“We’ve been here for all the 
birthdays, Mickey’s and Don- 
ald’s and now this,” rite said, star- 
ing at one of her favorite charac- 
ters, Snow White. (Mickey Mouse 
turned SO in 1978, and Donald 
Duck hit SO last year.) 

The day was pankulariy mem- 
orable for Michael Schwartner. 
37, of Searchlight, Nevada. He 
and his cousin Christine Vess 
Watkins, now 38. were the first 
two children through the gates of 
the park, and they were on hand 
again for the 30th birthday. 

“The place is better than ever," 
Schwartner said. “I was just old 
enough to remember what it was 
like: Walt Disney put me on his 
knee and asked me if I could 
wiggle my ears. When he talked 
to you, he was so warm. It was 
like no one else was around." 


On July 17, 1955, the award- 
winning animator and film pro- 
ducer opened the Magic King- 
dom, an amusement park based 
on the themes from his many car- 
toon and movie creations. Dis- 
neyland defined the theme park 
and changed forever the idea of 
family-oriented entertainment. 

“Lots of kids grew up thinking 
Disneyland was a state, just like 
Iowa and Rhode Island, 4 the co- 
median Phyllis DUIer wrote re- 
cently in the Los Angeles Times. 

Die science fiction writer Ray 
Bradbury, who lives in Los Ange- 
les, said: “Because of Disney- 
land, the look, color, texture and 
life in hundreds of and eventually 
thousands of onr cities and towns 
will never be the same— which is 
to say, improved.’’ 

The visual treats planned for 
the birthday bash included a rain- 


T*->vJy • -• 


m 

. ,, « • . , a. 

fe., S' 


Shostakovich Appointed 


bow light show in the sky and an 
extravaganza performance of the 
Main Street Electrical Parade, 
featuring such Disney characters 
as the Seven Dwarfs and Captain 
Hook riding his pirate ship. 

The festivities are part of a 
yearlong celebration during 
which $12 million in prizes are to 
be given away. 

Disneyland's 250 millionth 
guest wdJ receive a bonanza: a 
r.iH illftr 30,000 miles of free air- 
line travel, 30 free trips to Dis- 
neyland or Florida’s wall Disney 
World, and free lodging in Dis- 
ney hotels at either park. 

The lucky person is expected to 
pass through the gates before the 
summer's end, said Erwin Okuri, 
vice president of Walt Disney 
Productions. 

Last year, Walt Disney Pro- 
ductions had nearly Sl.l billion 
in revenue from Disneyland, 
Walt Disney World and Tokyo 
Disneyland, Okun said. The To- 
kyo park is owned and operated 
by Oriental Land Ox, which pays 
Walt Disney Productions royal- 
ties and licensing fees. 

In 1956, the Anaheim park’s 
first full year of operation, Dis- 
neyland welcomed 3.8 millio n 
viators. In 1980. the year of its 
high#« attendance so far, the fig- 
ure was 11.5 millioii. Park offi- 
cials hope the record will be bro- 
ken this year. 





Cwufc Dimer Froduoooi 


Sleeping Beauty Castle, in Fantasyland. 




ttVa# Dnr Prodmta* 


Walt Disney with Disney land’s first two visitors, Mi- 
chael Schwartner and ms cousin Christine Watkins. 



INTERNATIONAL CLASSIFIED 


The New Orleans Symphony has 
approved the appointment of Max- 
im Shostakovich, the Soviet con- 
ductor who defected to the West in 
1981, as music director for three 
years beginning in the fail of 1986. 
Shostakovich, son of the composer 
Dmitri Siostakorich, defected with 
his son, Dmitri, to West Germany 
after a European tour with the 
Moscow Radio Symphony Orches- 
tra. He was granted political asy- 
lum in the United States and lives 
in Richfield. Connecticut. He will 
replace Pbffippe Entrenwnt as mu- 
sic director of the New Orleans 
Symphony; Enirwnom is leaving to 
become principal conductor of the 
Denver fyophony. 

□ 

Chariton Heston has decided to 
join “Dynasty II" instead of run- 
ning for the U. S. Senate. The ac- 
tor, 60, confirmed reports that he 
had been asked to raalcea 1986 nm 
for the Senate seat in California 
now held by Alan Cranston. But 
Heston chose instead to play a ty- 
coon named Jason Colby on “Dy- 
nasty II: The Colbys of Califor- 
nia.’’ The program is scheduled to 
start this autumn as a spinoff of 
“Dynasty," the ABC evening dra- 
ma about the family of a Denver oil 
millionaire. . . . The French soap 
opera “Chdteauvallon" is being 
canceled: France's Ameone 2 net- 
work announced that filming of a 
second 26-episode series would be 
scrapped because doctors said 
Chantai Nobd, who played a ruth- 
less heiress, would need extensive 
therapy after bring paralyzed in a 
car wreck and could not resume 
acting until next year. Nobel was in 
a coma for six wades after the car in 
winch she was riding, driven by the 
ringer Sacha Distel, crashed in 
ApriL 

O 

An unidentified American's £6- 
mfllian ($83-million) pledge to the 
Live Aid famine appeal may have 
been phony, an accountant for the 
charity says. PUBp Rusted, the 
Band Aid Trust’s London accoun- 
tant, said a telex message promis- 
ing the sum — the largest donation 
during Saturday’s root marathon 
— would be “treated as a hoax" 
until proved otherwise, as trust of- 
ficials had been unable to contact 
the donor. The estimate of the total 
raised by the Live Aid rock con- 
certs in London and Philadelphia is i 
now estimated at £40 million 


worldwide, including as uad&- 
clesed amount given Tuesday by 
Prince Charies. 


Geraldine Ferraro and her im. 
band, John A. Zkobp, do*** 
champagne with Sichuan food jff 
celebrate their 25lh wedding ngfe 
versary in Beijing. The formar- 
Demoirauc rice-presidential Can- 
didate and her husband are oc a 
tour of the Far East with tbrirc& - 
dren, Donna. John Jr. and loan, 
aged 19 to 23. 


Mayor Edward I. Koch of New 
York has blasted as inaccurate r 
forthcoming book that claims he 
feared President Jimmy Cater, 
wanted him assassinated and nvt 
he called Representative RtwnW 
DeQmns a "Watusi" and a “Zulu.* 
The unflattering and unauthorized 
biography. “1. Koch" is scheduled 
to go on sale next month, jus 
weeks before the city's Democratic 
prunaiy. It was written by three 
journalists. Dan Coffins, Alter 
Browne and Michael Goodwin, and 
was conceived of as a rebuttal »- 
Koch’s best-selling autobiography, 
“Mayor." Koch defended ms duv- - 
acterization of Odiums, a Demo- 
crat of California, by saying he had 
referred to DeDums as “Zulu war- 
rior” and a “Waiusi prince," He" 
called Deliums about the book, he 
said, and Deliums “told me be ua- 
dersfood it was not pejorative at 
aIL“ 


Stacy Reach told his tale of co- 
caine to a congressional committee 
Tuesday, saying he preferred being 
in jail to bring a prisoner to drugs. 
“There is no greater imprisonment 
than that of being dependent ou 
any chemical substance for one’s 
existence," the actor said in his first 
public comment on his cocaine 
problem since finishing a. six- 
month British jail tens. Keach, 
who was arrested at Heathrow Air- : 
port last year with 1 Jounces of the 
drug in his luggage, said he had 
prided himself on not needing any 
“crutch'' before be tried cocaine. 
“Within a few short months, co- 
caine became as integral part rtf in 
life.” he said. “But 1 still foolishly 
and blindly refused to abandon the 
notion that I could take it or leave 
it I thought that I was in control of 
the drug and not vice versa." 


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DUSSEUX3RF/RAT1NGEN 

(02102) 45023 I.ALS. 

MUNICH LM3. 

(089) 142244 


BEAUX HtoWENat ARIES. Buikfne 
lot 850 Kpn. All faefewm pine forest 
& imimpeded view. T«L Raymond in 
Fiance (93) 91 15<Btpm) 


CAP H5BAT. Nm Grand Hotel. 
Cop i most beautiful 350 sun luxury 
wArfrort viBcx. Tut (93] 9944 14. 


GREAT BRITAIN 


HISTORIC HAMPSTEAD 

Smphr the finest apartment! 
avtriabk in London (Harnxh / Hyde 
Park within 10 minute*] at 

HAMPSTEAD LODGE 

HvSwdudly rterior deigned home*, 
bacar a we al th of trodmonol Engfeh 
period rooms. Price* from E12OIB0 ■ 
£285.000 ($86556 ■ $206,5201 

Jar* Agenti: Hampton & m, 71 
Heath Street, H ti np s ta xt, London 
NW3 1YB. let 01 -794 8222 and 


LUGANO 


Luajrma t*jartmenfc twrioo fan g the 
Lata Lugom end the beautiful NT' 
inunrfngL Apartm en t ! from lIDiam. 

7A CHAMfS-aYSSS 8th 

partarg place m indoor poroge. Vndoor StuSo, 2 t* )nn oporttrart. 
wrimaeng pool and privote beach with Ow month or mare, 

tandina itooes. Sofia price*; SFMWXB l£ CLA8DGE 359 67 97. 
up to SFI^BDDOO. Free for safe to ftr- 
apwrv Mortgage* c* low Swiss rates. 


EMERALD HOME LTD. 


FOUR WINDS 
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LONDON (01) 57S 66 II 




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EUROPE 

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B uenos Aire* 41 40 31 
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P wns e no: 690511 
San Jos* 22-1055 

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Sao Paulo-. 852 1893 


Bahrain: 246303. 
Kuwtafc 5614485. 
Le ba n on; 341 457/8/9. 
Qatar: 416535. 

SoMfi AltddK 
Jedda h: 667.1500. 
UAX: Dubai 224161. 


International Business Message Center 


Hi! 


NEAR FOCH - 6 ROOMS 

CKd high doss, ogreodde view, 
superb oporfmenl, luxuriously renovctf- 


5TH NEAR PORT ROYAL 

modan teddka LOVHY 2 ROOMS 
Eouppedbchen. TBtRACE- 
on garden FB50JWL Teh 705 48 AO 


PARC MONCEAU 

6 rooms, 210 sqjn. sun view. 

dd bwbne, hgh price. MO 35 55. 


VAN CLEEF & ARPELS 

has pleasure in inviting all those visiting 
London for the American Bar Association 
Conference to a unique exhibition of the 
latest jewellery & boutique collection from 
10tb-25tbjufy. 

15J New Bond St, London, W.l 
Tel: 01-491 1405 
Tlx: 266265 VLC G 


the pro&U aren't 
slut, the Kama system a avtdbae in 
Uadi aid while or fail colon is porta- 
ble, sets up m 30 minutes or las, atf 
time, anywher e . ^ TtawcriA is 


HOLLAND 


DUTCH H0U9NG CENTRE LV. 
Dehae rented*. Yalenustr. 174 
Amsterdam. 828621234 or 623221 



USA 

BU5WB5 B 81EA1 STATE 
Busmen salesj cmroerrid. industrial & 
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ments A finondd specs to Hbssn £edty 
& Busmen Broken, 14795 Jeffrey Rd, 
#ZT 0 JnrinjLCA yIT\A LBA. 71A451- 
803ft Tba OT194, 


INVBTMENTS 
SS OUR AD ON PAGE 
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TRANS CONTAINER 


Swiss Ccw[gyBitog succecdd 

apparatus for th0rrx*«ie oppiemero 
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A Rlsr CLASS MVBTMBIT 
W»CH 0FFS5 

■ A gwrateed return of ywr money 
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M Gofer 

LAMMAS MVBTMBAS UMI1B) 
25 ftieen't Terrace 
Southampton 502 1BQ, Eratond 
Td- Saumampscn ^0703; 3^22 


■Rteifr" J* • -V'j 


reh abfeil i u n. etc. fi«s auofified 
cStirtatoi/aoents woriawv k. 

Canto : WJJ.^W: 418830 Ot 
PO Bo* 54, CH.1214 Veneer/Gcneva 


1QCTRE MAOfNBTV 
Trenp en ftadudie n Machin e 

K. F^SBNXUDWIG & Col AG 
OW646 Wagsn B. Jana 

j w ifTBllW 

Tel: (55) 28 3141 . Tlx, 875349 FALL! CH 


tin: 1,11, 

!• mIIjh TmM 


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