Skip to main content

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

See other formats

Th e Global Ni 
Edb'ted ii 
Printed Sun 
in Paris, Loi 
Hong Kong, 

«he P i,r.iSt iSM 

■***.'W ;-• . * ,c .- UQ jv*.^ 

■ k .: WEATHBl CATAAPreAR ON PAG* 1 8 


Published With The New York Times and The Washington Post 

hm.. ii i.ip® 

uai,— .s.wou* 

JoOan . M .~ IM f't 
Mmn ..9i i« n> 

<a_it .SkfJ; 

Lrtono" . .. tJ55 

hMdto i] 4' Lf- 
Muom"-. . <D‘ hc 

Mail Zi uni 

%xa. . !!ilX 
NprwiiUBtfv. "if 

Ov. S.’iXtr-* 

Catijp*. . <0hi. 
Chw_ _ oWtub 
ftp 01 liMvd t 


!fiw i IS Wn 

i— j 'rs»> 

S~Jif ‘■Kid 'JOJh 

Tunuw .. . k’US On 

UAL . .iiSO.ii 
HiWit.-l Jfl.® 
1 * 300.0 MffO 

No. 31,854 




- :, v V.,.. a^telvC.lfe 



u-rrr " ' 
ar-t; J.- 


r; uc ' win 




•■'•■ r.r. 

‘ Hi Wfci 


WijT Ji4a klj ^ 

**»» : .:- ..-_7 ^ j 

' 7;"^ I 

Are Too Inaccurate 
1 To Threaten Silos 


■•;■•• ;‘V- r - ! ?eS 

By Bill Keller 

New F«* Tuner Serrice 

WASHINGTON — 115. mteOI- 
gcncc officials, in a revised assess* 
moil of a Sonet missile known as 
iheSS-19. now believe that it is too 
inaccurate to pose a threat to U5. 
missile silos, administration 
sources said. 

The new appraisal, which differs 

was first reported by Michael R. 
Gordon in an article to be pub- 
listed Friday in the weekly maga- 
zine National Journal. 

Present and former government 
officials said one lessen to be 
drawn from the new estimate is 
that intelligence reports used as the 
basis for major decisions often 
seem fragile and unchain The in- 
ice agencies generally rely 

•i «.-!<• 

Till \\\: 



k JJtoj 


■"•■'ij! a..*f 

."V ?“*t. 


!, 4r, ^ 

, ' t n: V ( 

^ P-nat- 

- Oil- 

'' * !• 

• r ife 

'* J.-J; 

■■ rijsfei 

• • timfe 

- -t.rj-,. 


is contamed in a secret report, the 
National Intelligence Estimate, 
which fc prepared once a year by 
the CIA and represents the consen- 
sus of U5. intelligence experts. 

Administration sources said 
Thursday that the Pentsgm’s De- 
Sense Intelligence Agency dissent- 
ed in a footnote to the, document 
and stood by earlier estimates of 
the missile's accuracy. 

•! The purported capacity of (he 
SS-19, an intercontinental ballistic 
missile, to destroy U.S. missile sQos 
has beat an important political fao- 
tor in UJL arms control consider- 
ations and in the campaign to build 
an American counterpart, the 10- 
warhead MX. 

Officials said the military signifi- 
cance of Ute revised estimate of SS- 
19 capabilities was twinimwi bo- 

on tee same data — in tins case, 
observations of Soviet missile tests 
— but differ in inieipretatuHL 

Hie Pentagon estimates that the 
Soviet Union has deployed 360 SS- 
19 missiles with six waoiead&eadi, 
a total of 2,160 warheads. The 308 
SS-18 missiles have 10 warheads 
each, a total of 3,080. 

In 1977, the CIA said the accura- 
cy of the two missiles was improv- 
ing faster than expected, poOTig the 
danger that by the early 1980s or 
sooner, they would be able to wipe 
out the 1,000 American Minute- 
man missQe sOos in a p r eem p tive 

The estimate influenced Presi- 
dent Jimmy Carter’s approach to 
the arms control talks, officials 
said. The U5. negotiators had ini- 
tially focused attention cm the SS- 
18, and sought to negotiate a treaty 

cause another Soviet ICBM, the limiting the size and destructive 
SS-18. is believed accurate enough power of missiles, 
to threaten missile silos. But after the CIA estimate of 

The revised estimateof the SS-19 (Continued on Page 2, CoL .1) 

Fundamentalists Pray in a Cairo Park Under Police Scrutiny 

Egyptian followers of Sheikh Hafez Salaam, the leader of a campaign They went to the park. In (he background, tracks carrying nor 
to introduce Islamic law throughout Egyptian society, were turned policemen stood by. The sheikh, arrested with 46 others last week, 
away, from the A1 Noor Mosque on Fnday by hundreds of riot insists that Islamic law, based on the Koran, would solve Egypt's 
policemen and pkmsclothes officers, who told them to pray elsewhere, problems. Interior Minister Ahmed Rushdi said he had few followers. 

Dam in Italy 
Bursts; 260 Are 
Feared Killed 

AnkaraEnds V.S., in Harsh Note, links Nicaragua tn 6 Slayings 

6Y2 Years of 


t- tvwi . 


■ •■• 1 1 . j 
:TT, sgKis 



Martial Law 


ANKARA — The authorities 
lifted martial law in Ankara on 
Friday after six and a half years, 
but not in the southeastern prov- 
inces of Turkey, where Kurdish re-, 
bds skirmish almost daily with 

Ankara was .one of ax provinces 
"irhse martial law ended at 5 P5t 

By Edward Cody 

Washington Post Service 

MANAGUA — The Reagan ad- 
ministration has said that Nicara- 
gua “may be directly involved” in 
plans to attack U.Su citizens in 
neighboring Honduras, and it 
warned the Sandinist government 
that the United States vrould “react 

The U5. warning, contained in a 
note using exceptionally strong 
lan g ia g e, also linked the Sandinist 

faidership. indirectly to the slaving 
Jui* 19 of sfifU-S: dozens, indtud- 

Ministry by Ambassador Hany £ 
BttgoldJr. and made puWic Thurs- 
day by Nicaraguans, evoked a 
sharp reply by the Nicaraguan For- 
eign Ministry. The reply was deliv- 
ered Thursday night to the U.S. 

Nicaragua called the U5. accu- 
sations “absurd” and accused the 
-United States of muting “intoler- 
able threats” and seefcmg to create 
a pretext far “direct military ag- 

“Nicaragua rejects any sugges- 
tion at all pfresponability for what 

Sandinist role, said Friday that the 
Reagan administration was itself 
practicing state terrorism by fi- 
nancing anti-Sandhnst rebels in a 
guerrilla war. 

“So who are the terrorists, so 
who are the terrorists?” he asked, 
'-in Washington, officials refused 
to spell out the nature of the possi- 
ble UJ3. response to further terror- 
ist-type attacks in Central America. 
But they stressed that the note was 
not intended to foreshadow mili- 
tary action. 

anything," be said. “We’re just 
making our position very clear.” 

The U-S. note was pan of a 
growing administration campaign 
against attacks that 1)5. officials 
call international terrorism, such as 
die hijacking last month of a TWA 
airliner by Arab extremists and the 
resulting hostage crisis. 

President Ronald Reagan in- 
cluded Nicaragua, along with Iran, 
Cuba, Libya and North Korea, on 
a list of five countries he branded 
as outlaw nations that aided terror- 

ragua dearly and fully understand 
that any Nicaraguan-supported 
terrorist attacks against U.S. per- 
sonnel in Honduras would be 
viewed as the direct responsibility 
of the government of Nicaragua, smoke from a fire.” he stud, 
and that the United States should 
be expected to react accordingly,” 
the UCS. note went on. 

CcmpdcJ hy Our Stoll Fnvn Di.tuilJu* 

CAVALESE. Italy - More than 
260 people were feared dead when 
a dam burst Friday in non hem 
Italy, sweeping away three hotels in 
the Dolomite mountains, govern- 
ment officials said. 

The civil defense minister. Giu- 
seppe Zamberleui said Friday eve- 
ning that 66 bodies had been recov- 
ered and IQ5 persons were still 
unaccounted for after water and 
mud had engulfed the hamlet of 
Stava. near the town of Cavalesc. in 
the Dotomiie mountains, around 
12:30 P.M. 

First reports suggested that the 
embankment of a dam in the 
Fiemme valley collapsed, releasing 
8.730,000 cubic feet (250.000 cubic 
meters) of water. The dam that 
burst was built about 20 veirs ago 
to serve a nearby fluorite mine "in 
the Dolomites. Bui recent storms 
could have weakened the walls of 
tile basin. offirijJs said. 

The wave of water and mud 
swept through the village of Stava. 
canying away three small hotels 
and badly damaging a fourth and 
hurtling down the valley to the 
town of Tesero. 

“! heard a roar and there was a 
strong gust.” an elderly Italian 
tourist in Tesero said. “I crouched 
under a wall until it collapsed on 
me. I w as rescued from the debris 
half an hour later." 

“1 was going up toward Suva 
when suddenly a while wall ap- 
peared in the distance” a man 
identified as the deputy mayor of 
Tesero told Italian television. “I 
could not work out if it was Stava 
burning but it seemed impossible 
because it was too white to be the 








0 SJ 

■_+ T 
•WT-’, - 



£jLhl ■ 

after a recommendation by the Na- 
tioaal Security Council a joint mi- 
litary-civilian body, an official 
statement said. 

Martial law was imposed on An- 
kara and 12 other provinces on 
., . Dec. 26, 1978, after political vio- 
- . «rj fence in (he southeastern town of 
-vjj: Kahnunanmaras that left at least 

117 people dead and 1JKW injured. 
The violence continued until af- 
'• ' vv_ ter the September 1980 military 
■ jvx-yj? - coup. Martial law spread to the 
-= ‘ whole country. It remains in 17 of 

vi- 1 » the country’s 67 provinces, indud- 
ing Istanbul. 

1 Martial law gives control to the 
military over the judicial system, 
law and order, and many aspects of 
citizen's lives, including entertain- 
ment and public meetings. 

Martial law in Istanbul enables 
the authorities to control the press, 

■ although journalists report a soft- 
ening in the local commander’s at- 
titude toward them in recent 

Political analysts said they saw 
no early end to martial law in the 
eastern and southeastern prov- 
inces, where a government report 
said this week that politically relat- 
ed killings had increased in the last 
six months. 

Of 200 political deaths in 95 mo- 
dems nationwide in that period, 

v } 0 i! 140 were in the areas still under 

-’■■■ martial law, the report said. The 
- : r 5 Authorities this week, reported kDl- 
ing six guerrillas in the southeast. 

It said Nicaragua supported mid 
influenced the. Salvadoran rebel 
groim that d aimed responsibility 
fra the shootings. The note warned 
of '‘serious repercussions” if such 
an incident happened again. 

The note, presented Wednesday 
night to the Nicaraguan Foreign 

that could occur in that or any 
other country," the reply said. 
“These are things we neither do nor 

President Daniel Ortega Saave- 
dra, speaking at a rally of hundreds 
of thousands of Nicaraguans cele- 
brating the sixth anniversary of 

prevent 'action that would other- 
wise occur,”' a State Dqiartmeni 
official said. 

A senior White House official 
said the warning “has been made 
abundantly explicit" to Nicaragua 
through diplomatic channels: 
“We’re not setting anyone up for 

“It should be understood also 
that white this warning is addressed 
to possibleacts of terrorism against 
U.S. citizens in Honduras because 
of specific available intelligence, 

U.S. reaction to terrorist acts in 
rn« Nicaraguan govonmeni , 0 ^ countries of ChjtralAmerici, 
shouW nre its influen« to dtscour- , elsewhere, will be based on the 
age attacks against US. personnel same principles, 
personnel who are not, as they 

know, involved in combat," said “A repetition anywhere in Cen- . , . 

the note handed to Saul Arana, tral America of the June 19 mur- dau^ter. We found the bodies 
head of the Nicaraguan mutism's ders of U.S. dozens in El Salvador IO a lernWe condition. 

North American department will have serious consequences for U was the worst dam disaster in 

“1 consider it of utmost impor- the perpetrators and for (hose who Italy since 1963 when a dam burst 
lance that ibe government of Nica- assist them.” at Longaronc. 33 miles east of 

The stricken area, in the Val di 
Fiemme, 192 miles (3 10 kilometers) 
northeast of Milan, is dotted with 
mountain lakes and snow-capped 
peaks. It is popular with Italians 
and northern Europeans for moun- 
tain hikes and fishing. 

Army units were drafted to help 
5,000 rescue workers wade through 
mud to search for survivors. 

“We found dismembered bod- 
ies," an Italian rescue official said. 
“A man asked me to dig for his wife 

Stava, killing 2,000 inhabitants in 
five villages as they dept. 

A seismologjcal institute *aid 
Friday's dam burst had the force of 
a 1. 1 00- pound (500-kilogram) 
bomb explosion. 

“It sounded like an earthquake. 1 
thought the mountain had col- 
lapsed,” a resident said in a televi- 
sion interview. “I saw the end of the 
world." said another survivor. 

The Italian state broadcasting 
network, RAI. said the wave of 
water, mud, trees and debris 
reached as high as 130 feet (40 

Less than a minute after it began, 
the burst had turned the green val- 
ley into a 3-mfle river of gray mud. 
broken masonry, woodwork and 

About 10 to 20 houses, some 
used as vacation homes, were also 
engulfed by the wave. 

A rescue worker from Bolzano 
said: “I fell helpless. I knew that 
under that moving sand there were 
so many people v. ho were suffocat- 
ing and 1 could not do anything to 
save them.” 

The Civil Defense Ministry in 
Rome named the three destroyed 
hoiels in Suva as the Erika, Suva 
and Miramomi. A fourth, the Do- 
lomiti. was partly damaged. 

(Reuters, AP) 

Israel Tells of Soviet Bid 
For Restoring Relations 

iC-- : ]1 

The Atsodoled- Press 

TEL AVIV — The Soviet Union 
has expressed willingness to renew 
diplomatic relations with ismet 
and to permit unrestricted Jewish 
emigration in exchange for at least 
partial Israeli withdrawal from the 
Golan Heights and attend to anti- 
^tet ^pre ^ag anda, Israel Radio 

The broadcast said YuS M. Vor- 
ontsov, Soviet ambassador to 
France, told Israel’s ambassador. 
Ovadra Sofer, in Fads .this week 
that Moscow expected Israel to 
make some move on the Golan 
Heights. Israel captured the heights 
from Syria m 1967 and annexeathe 
strategic area in 1981. 

Mr. Vorontsov said, according to 
the broadcast, that Israel would not 
have to make a complete withdraw- 

al if an agreement could be reached 
with Syria, a Soviet ally. 

A Foreign Ministry spokesman 
confirmed that the meeting in Paris 
had taken place but declined to 
give further information. Soviet 
and Israeli diplomats have met oc- 
casionally at the United Nations 
and dsewhere. 

Tbe broadcast reported that De- 
fense Minister Yitzhak Rabin had 
said every suggestion far improved 
relations must be examined. 

But Mr. Rabin bad expressed 
surprise, it added, at the demand 
foranecd to anti-Soviet propagan- 
da since this was, he said, a direct 
result of the restriction on Jewish 

The Soviet Union and Israel 
have scientific and cultural rela- 
tions but they conduct diplomatic 

lira Plunges; Trading Halted on Milan Exchange 


Ambassador Ovatfia Sofer 

business through the Netherlands 
and Finland. 

There was very little Jewish emi- 
gration from the Soviet Union at 
the lime relations were broken. 
Later, the barriers were relaxed . 

Compiled fry Otc Staff From Dispatches 

MILAN — The Bank of ftaly 
suspended trading Friday in the 
lira on the Milan Foreign Exchange 
after the dollar soared nearly 20 
percent against the Italian curren- 

In Brussels, sources quoted by 
Reuters said finance mmistexs of 
the European Monetary System 
would meet this weekend to discuss 
a posable devaluation of the lira. 

At the time trading was halted, 
the dollar had gone up to 2,200 lire 
from the previous day’s 1,840 lire, 
and the Deutsche mail rose to a 
record 664.70 lire from 647.45 the 
previous day. 

In unofficial after-market trad- 
ing in Rome, the dollar continued 
its rise, to 2^00 lire, the Italian 
news agency AGI reported. 

The dollar hit its previous record 
of 2,167 lire on Feb. 26, but has 
been in decline since then as inter- 

est rates fell and economic growth 
slowed in the United States. 

In a joint statement, the Bank of 
Italy and the Treasury Ministry 
said the exchange was dosed to 
“limit interventions in the market 

The dollar was mixed in trading 
Friday in New York. Page 16. 

that the rules of the European 
Monetary System demand." 

Earlier in the day, the lira 
plunged to exchange races that 
would force other members of the 
EMS to buy the Italian currency 
under an agreement for maintain- 
ing stability among currencies. 

Under the rules of the EMS, the 
lira is allowed to float within a 6 - 
percent range of an agreed upon 
exchange rate with other currencies 
because of volatile economic condi- 
tions in Italy. The system allows a 

margin of 2.25 percent for other 

The EMS comprises Belgium. 
Denmark, France, Ireland, Italy, 
Luxembourg, the Netherlands and 
West Germany. 

After reports that the surge was 
triggered by a single purchase of 
SI 20 million, Milan's Istituto Ban- 
cario San Paolo said that early in 
the day it had received “an order to 
acquire a large amount of dollars 
on behalf of a major Italian compa- 

In Paris, Italian hankers quoted 
by Reuters said that new Italian 
regulations curbing short-term for- 
eign borrowing appeared 10 be the 
cause of the lira’s collapse. 

The bankers said Italy’s mone- 
tary authorities issued a circular to 
banks overnight Thursday, order- 
ing them to respect a SI 5-billion 
global ceiling on external borrow- 
ings. The circular appeared to have 

triggered huge dollar purchases by 
banks that had exceeded the ceiling 
through short-term borrowings, 
(hey said. 

“1 do not know for certain that is 
why the lira has collapsed, but it is 
certainly true that the authorities 
sent out the order because banks 
were exceeding the external bor- 
rowing limit," a banker said- 

in Frankfurt, a senior Bundes- 
bank official suggested late Friday 
that the collapse of the lira could 
trigger a general realignment of 
EMS parities to better compensate 
for various inflation rates within 
the system. 

“We’ve often said in our discus- 
sions about the EMS that from 
time to time realignments of cur- 
rencies are necessary so as to com- 
pensate for marked inflation-rate 
differentials," said die official who 
requested anonymity. 

iAP. Rcwers. IHT) 



■ ■ 

iSf liNS 


<*:**•■“ A:r 

0m fV 


■ A Portngpese hero of the 
1974 revolution will go on trial 
Monday for terrorism. Page 2. 

■ Donald T. Regan, (he White 

House chief of staff, denounced 
the congresstanal budget stale- 
male. Page 3. 

■ In Haiti, a number of observ- 

ers say recent events indicate 
that the DuvaHar grip may be 
Loosening, Page 3. 

* The PtiEnfoe defense minis- 
ter asked thelegisjatorc to abro- 
gate the ' agreement on U.S. 
bases. Page 5. 


■ Argentina has reshaped its 

pact with the International 
Monetary Fund, the govern- 
ment announced. Page 15, 

■ M^or industrial and devel- 

oping nations failed to set up a 
new round erf high-level talks cm 
world trade. . Page 15 


■ David Graham and Sandy 
Lyle lead the British Open golf 
tournament; Jack Nicfclaua 
failed to make the cut Page 19. 

Paid Gauguin’s cellist 
(detail) is one of 550 
works on mnsc-in-art on 
exhibition In Stuttgart 
Reviewed by David Gal- 

Fraud in Cataract Surgery: U.S. Puts Loss at $2 Billion 

% Margaret Engel 

. Washington Post Service 

WASHINGTON —The U.S. government - 
will waste $2 billion on cataract surgery this 
year- because of kickbacks to doctors, unnec- 
essary operations and overcharges, a House 
subcommittee said in a repent released Fri- 

The report was the result of a two-year 
investigation by a subcommittee of the 
House Select Committee on Aging that was 
aided by the inspector graeral's office of the 
Health fcnd Human Services Department 

Hie investigation found numerous in- 
stances in winch doctors overcharged the. 

in^imied^a^TOeiwd ki c k b a c ks for 
orders with particular companies. 

were offered free 
trips to Europe, cash deposits in Caribbean 
banks and free stock in lens compames, 
according to the investigation by the Sub- 
committee cm Health atm Long-Term Care. 

Others were offered surgical equipment, 
and the use of boats, cars and resort homes. 

About 1.2 mflJjon Americans are expected 
to undergo cataract surgery in 1985, making 
it the most common procedure paid for by 
Medicare, the fedoal program of health in- 
surance for those over 65. 

{Although the Weald Health Organization 
does not keep statistics on cataract opaa- 
an of the organization in Gene- 
va said in a- telephone interview that cata- 
racts are the cause of half of the world’s 

blindness. One of every hundred persons 
worldwide is Wind. 

[The health organization has begun a cam- 
paign to manufacture leases cheaply and to 
provide cataract operations in developing 
countries. The official stud that in India the 
agency will soon carry out the operation, 
including supplying the lens, for about 510.] 

be used to advertise the product. He then 
billed the government $500 for each lens. 

• Ophthalmol ogisLS reported that they 
had been offered the use of a yacht off 
Florida, travel in Europe, expense-paid 
“training seminars" in the Bahamas, second 
homes and cash rebates for buying a certain 
brand of lens. 

The market is so competitive that folks could view it as 
dose to the edge of fraud and abuse/ 

Gerry Connor 
A health industry lobbyist 

In the 20-minute procedure, cataracts are 
removed through the use of a needle inserted 
in the aye. In most cases, virion is improved 
after a plastic lens is implanted. The majority 
of patients who have die operation are dder- 

ty- v 

The House subcommittee found some in- 
stances in which the surgery was performed 
on elderly patients who already had 20-20 
virion, considered perfect virion. It estimat- 
ed that, nationally, unnecessary surgery per- 
formed on Medicare patients would cost 
$525 million for 1985. 

The subcommittee also found: 

• A well-known surgeon received 1,600 
free lenses in return for allowing his name to 

■ One lens firm, owned by doctors, offers 
stock to doctors who use their loses. 

• A Maryland ophthalmologist said his 
center was offered a 535,000 machine if it 
bought a certain number of lenses. 

Cataract sorcery is considered one of the 
most successful recent advances in medicine. 

However, Representative Claude Peppa; 
a Democrat of Florida, and chairman of the 
subcommittee, said, “This procedure from 
the taxpayer's perspective is an unmitigated 

The report said that S1I billion of the 52 
hiffian in wasted costs was because of a lack 
of federal limits on the cost of outpatient 
Medicare surgery. 

The Health and Human Services Depart- 
ment sets in advance the fee, up to 52,400, 
that it will pay for cataract surgery per- 
formed on Medicare patients in hospitals. 

However, doctors who perform the proce- 
dure in an office or clinic can charge whatev- 
er is considered “usual, customary and rea- 

The subcommittee found that many doc- 
tors who perform the procedure outside of 
hospitals charge hundreds or even thousands 
of dollars more than the maximum $2,400. 

Seventy percent of cataract operations are 
performed or) an outpatient basis. 

The report said the government has been 
b tiled for up to $700 for a lens, which costs 
about S50 to manufacture. 

Gerry Connor, a lobbyist for the Health 
Industry Manufacturers Association, said he 
had heard reports of many of the sales prac- 
tices. “The market is so competitive that 
folks could view it as dose to the edge of 
fraud and abuse,” he said. 

Cynthia Root, director of the 13,500- 
member American Academy of Ophthalmol- 
ogy, said its ethics committee srudied six 
rebate programs offered by lens salespeople 
last year, but “we looked at it only in hypo- 
thetical terms. We don’t know how wide- 
spread it is ” 

She disputed the contention that the gov- 
ernment could save S 2 billion. 

An academy newsletter this month pre- 
dicted that a few ophthalmologists might be 
indicted for receiving kickbacks. 

Reagan Returns 
To White House 
On Saturday 

H’aikutguMi Port Service 

Washington - presi- 
dent Ronald Reagan will return 
Saturday to the white House, 
seven days after he entered Be- 
ibesda naval hospital for sur- 
gery to remove a cancerous tu- 
mor in his colon, the White 
House announced Friday. 

“Great, I’ll sleep in my own 
bed tomorrow night." Mr. Rea- 
gan was repeated by the White 
House to have said upon hear- 
ing the news from his wife, 

The president has been ad- 
vised by doctors to follow a 
light schedule for a while. He is 
expected to greet President Li 
Xiannian of China at the White 
House on Tuesday and may 
also confer later in the week 
with congressional leaders. 

Mr. Reagan met Friday at 
the hospital with Secretary of 
State George P. Shultz and the 
national security adviser, Rob- 
ert G McFariane. dteerwri ng 
U.S.-Soviet matters and thea<? 
ministratioa’s efforts to combat 


Portuguese Hero of ’74 Coup 
On Trial Monday as Terrorist 

By Ken Porringer According to the 10 , 000 -page in- 

International Herald Tribune dktmetlL Colonel CamlhO, who 
LISBON — A Portuguese Anny was born in Mozambique, was Ok 
G eer, who was one of the most brains behind a shadowy urban 

o to the 10 , 000 -page in- 
Joloncl Carvalho, who 

officer, who was one of the most brains be] 
powerful men in the country a de- guerrilla gi 
cade ago, will appear Monday as wave of 
dud defendant at a trial of 54 bombings, 
people accused of terrorism. The gnu 

The are char ged with Forces, na 

“promoting, founding and direct- coup, cl ail 
ing a terrorist association," an of- senes of a 
fense punishable by op to 20 years’ ingatteim 
im prisonment. ships in Li 

Justice officials say stringent so- man Air Fi 

igs, robberies and 

The group, the April 25 Popular ^e investigation 
Forces, named for tbe dale of the news weekly Exp 
“promoting, founding and direct- coup, daimed responsibility for a Colonel Carvalho, who was 
'ing a terrorist association," an of- senes of attacks, maiming bomb- ^ & g™, 13 months 

-fense punishable by up to 20 years’ ing aganm NATO war- ^ a popular figure in the 

■imprisonment. ships in Lisbon harbor, West Ger- ^ ^ ^ jcvofatKm. In 

; Justice officials say stringent se- man Air 'Force facdities m southern 597 ^ runner-up to Genial 

curi tv measures win be in effect Portugal and the Ua Embassy in Ramalho Eanes inprcsi- 

■when Lieutenant Colonel Oido Lisbon. dattial elections. 

Sandra de Carvalho, 48, and the Colonel Carvalho, speaking _ _ . , 

.^maTbSap^of-glas trough his lawyer. Romeu . 

Z* V & Frances, and in magazine inter- cal popularity was wamng as the 

any, to provide haven for any of his 
comrades fleeing arrest 
The revelation caused anxiety in 
the Foreign Ministry, winch feared 
damage to Poitufjpese relations 
with Mozambique. There has been 
some pressure to drop this aspect of 
the investigation, according to the 

South Africa 
Says Aim of 
Violence Is 

JV-* - 


The colonel, known in Po 

Colonel Otdo Saraiva de Carvalho 

merely as Otelo, was a key member additional auegations inai a lemst 
of a Co mmunis t-influenced trium- party he founded in 1980, the Pop 
virate that ruled the country after ular Unity Force, was linked to the 
the 1974 revolution, which ended April 25 Popular Forces. 

views, has denied the charges and rotmtiy turned toward danocracy. 
additional allegations that a leftist his arrest sparked sympathy and 

concern from diverse quarters. 

Some Portuguese feared that tbe 
colonel was being persecuted for 

lent. Pro-Oldo graffiti already dot 
walls in the capital. 

Gvfl rights orga n izations have 

been rawnprigtiing against the cdo- Salvado, rule that 

48 yearn of rightist dictatorship. The trial has ramifications that his politics. Questions were raised nd’s detention without bail during rity is required. 

The colonel operational com- go beyond Portugal's borders. The about the wisdom of arresting a the yearlong investigation. - Three of the 

mander of the coup commanded prosecution alleges that in 1982 man who had played a key role in A special top-security court has turned state wit 

the military police, which had unre- Colonel Carvalho reached an restoring liberty and freedom to been constructed in Monsanto a separate glass 

stricted power of arrest and deten- agreement with tbe leaders of Mo- Portugal Prison, on a wooded hffloutskie the others are to b 

tion without trial zambique, a former Portuguese col- Tbe trial is expected to be turbo- city, at a cost of $600,000. sence. 


JHBt Africa on Friday described the ra- 

i . . ■£??' rial violence in tbe country as an 

.'4™ ‘ orchestrated campaign to make the 

^bon ripe for revolution, warning 

mfmm • t * ut ac ^° n 

-a. quell the unrest 

(■■ppl ^ “Firm action 10 put an end to it 

I will involve a high price." the state- 
L ! run South African radio said in an 

*■" - - L editorial. Tbe radio’s commentaries 

ftra de Carralho 

“Monies', intimidation and arson 
The gjass dock for the 54 accused are being used to make the country 
can be equipped with an iron cagp ungovernable and ri^efor revolu- 

ilvido, xde&a t" ad<fi$cmal sem- said that restoring law and order 
y is required. bad become an essential prerequi- 

Threc of the accused, who have site for reform. 

stricted power or arrest ana aeta 
tiou without trial 

U.S. Revises 
Of Missile 

(CoBtmned from Page 1) 

1977. the Carter a dminis tration ac- 
cepted an overall limit on numbers 
of multiple-warhead missiles and, 
because of Soviet resistance, set l 
aside efforts to limit destructive 

Defease Secretary Caspar W. ^t**’-*. 
Weinberger has frequently cited 
the accuracy of the two missiles gh yft . 
when arguing for the MX. A major 
justification for tbe MX has been :$> 
tbe need to match the ability of tbe 
two Soviet missiles to destroy silos, f 
A Pentagon official familiar with 
the report said that even if the esti- ^ 
male woe accurate, it would still 
leave tbe Soviet Union with 3,000 !*: 
more accurate warheads on SS-18 
missiles, or three for every Mraute- 
mmsUo. AheHa 

“Three on me is pretty good, 
the official said. 

■ Pravda Denies Deployment 4/1 
The Communist Party daily 
Pravda denied Friday reports from 
the United States that Moscow had- 
continued to deploy SS-20 me- iJl/l 
dram-range missiles despite a Sovi- 
et moratorium, Reuters reported 
from Moscow. . 

had played a key role in A special top-security court has tinned state witness, will be kept in Police headquarteis said Friday 
liberty and freedom to bam constructed in Monsanto a separate glassed-in area, and 20 that police fired pistols, rubber bul- 
Prison, on a wooded hDl outside the others are to be tried in their ab- lets and tear gas overnight in ro- 
il is expected to be turbo- city, at a cost of $600,000. sence. newed rada] trouble in Soweto, the 

country’s largest black township, 

mear Johannesburg. 

Much of the violence involved 
l\rfYI*Wil17' (.Ate black students who have boycotted 
11 U 1 tt «ty Uvlw classes, co n tinning a year-old dis- 
" pnte over the government’s refusal 

0-1 A to allow elected student representa- 

ZlQ. ADOIOffY rives. Nearly all Soweto schools are 

T? C Police said that youths ran 

J? rom 0OVI6I through the township, stoning 

trucks and cars and setting them 

By Per Major unrest in 1976, in which 

International Herald Tribune 575 fiedf began in SOWCtO, 

OSLO — Norway received its winch has a population estimated 



Solidarity Pushes for Election Boycott 

WARSAW (UP!) — Leaden of the outlawed Solidarity cade union, 
accusing authorities of “four years of repression, unlawfulness and 
arrogance." have urged Poles to boy cor. partiamentaiy elections Oct 11 

An underground bulletin published In' the union said: “Now Solidarity 
calls on all these for whom freedom is not an empty idea to refuse to tike 
part in the voting." 

The cal! to boycott the elections was made Tuesday at a secret meeting 
of the union's coordinating committee, according to the bulletin. The bst 
parliamentary election, normally held every four years, took place in 
March 1980, before the social upheaval that spawned Solidarity. 

Papal Hot Trial to Resume in 2 Weeks 

ROME (Reuters) — An Italian court investigating the assassmatka 
attempt on Pope John Paul I! took a two-week break Friday after an 
assertion by Mehmet All Agca, convicted of wounding the pope, that he 
was no ordinary mortal arid had been sem to proclaim the end of the 

The court hearing of evidence against seven alleged conspirators ended 
in uproar, as it began right weeks ago. Mr. Agca. serving a life sentence 
for the 1981 attack, contested a defense lawyer's plea that be should be 
subjected to psychiatric tests because of his irrational behavior during tin 
trial The court took no action on the request Mr. .Agca declared: "God 
the Invisible has asked me ... to proclaim that in this generation the 
whole world will be destroyed without mercy, because the world whfaoot 
God has no right to exist." 

Tire court decided to reconvene on August 5 with the interrogation of a 
Turkish natirwml. Arslan Samel, who was arrested in possession of an 
illegal firearm during the pope's visit to the Netherlands in May. 

U.S. Orders Testing of Austrian Wines 

WASHINGTON (Reuters) — The U.S. government has ordered wine 
importers and wholesalers to stop selling Austrian wines until they have 
been tested for a poisonous chemical used in automobile antifreeze. 

The Bureau of Alcohol Tobacco and Firearms issued the order Friday 

By Per Major unrest in 1976, in which 

International Herttid Tribune 575 began hi SOWCtO, 

OSLO — Norway received its whicn has a population estimated 
second Soviet apology in seven al up to two million, but the town- 
months this week when Moscow ship had been untouched by the 
said it regretted an incident in current unrest until hundreds of 
winch a Soviet naval vessel cut an children took to the streets 
advanced seismic research cable in Wednesday. 

the Barents Sea. 

The Russians also apologized to 
Norway and Finland in January 
after a Soviet cruise ntisate strayed 
across Norwegian territory before 
crashing in northern Finland. 

In the early hours of July II, a 

South Africa radio said it was 
1 to clear with the eruption of violence 
ary in Soweto that the violence in black 
red townships across the country 
ore would not end of hs own accord. 

■ Black Boycott Continues 

•» a The New York Times reported 

th* Auocxrtid Pratt 

Soviet frigate cut a cable used by from Port Elizabeth: 

the research vessel Makne Oesta- For a fifth successive day Friday, 

void, which was searching for oil- thousands of blacks boycotted 

„ A helicopter undergoes mamtenmKX in Jimeocffie carrier Boev en route to tbe Barents Sea. 

„ 40 NATO Ships , Submarines Monitor 
i Soviet Display of Sea and Air Power 

carrying geological layers under the 
Barents Sea. The Soviet apology, 
delivered Thursday, said the cut- 
ting was acridentaL 
According to the Norwegian 
crew, it is unlikely that the catting 
was accidental because the crew cf 

rtbe white-run shops in South Africa's 
ogy. restive Eastern Cape, in a rare spill- 
cut-- over of black protest Into while 

pan In black townships near this In- 
ting dian Ocean port streets have been 
v of blocked witn garbage and debris, 

the Soviet frigate look great effort put (here as roadblocks by young 
to inspect the cable, winch was be- vigilantes enforcing the boycott by 
ing used to pull a seismic bnoy. The searching home-bound cars and de- 
cable was cut in two places, near straying clothes or groceries 

The Associated Press 

_____ roup from the Soviet North- 

rr ninn LONDON — About 40 ships era Fleet joined the exercise Thurs- 

submarines of tire NonbX cbw. 
lantic Treaty Organization, togeth- The center said in a statement 
er with air support, have been aDo- that the group, led by the 43JXJ0- 
!!£* ^rtnrharhi»v to nwnilor a Soviet sea and ton carrier Kiev and the 22,000-ton 

ah exercise under way in the Allan- nuclear-powrered battle cruiser Ki- 
tic and in the Norwegian and rov, started operations off Nont 

if North ***■ NAT0 kapp in northon Norway, 

month that the Russians had m- 

cable was cut in two places, near 
the buoy and dose to die ship. 
About 4J300 feet (1.300 meters) of 

cable was cut in two places, near stroying clothes or groceries 
the buoy and dose to die ship, bought in white shops. 

■ Admiral Assesses Maneuvers About 4,300 feet (1,300 meters) of white civic officials called (he 
Admiral McDonald, visiting cable could not be found. impact cf the boycott, winch is set 

NATO headquarters in Brussels xhe Norwegians tried to com- ® fort wo m onths, desperate- 
from his base in Norfolk. Virginia, municate with the Soviet frigate ^ urgfflii, n while its black or gan i z - 
said that Moscow seemed to be over radio and gko played a tape said tire action had resulted in a 
practicing ways of preventing recordina in Russian with an eznla- suspension of black trade in 

Admiral McDonald, visiting cable could not be found. 
NATO head q u a rters in Brussels The Norwegians tried ' 

from reinforcing Norway in nation of their activity. 

creased tireir deployments of (he 


Phoenix, Arizona. 0-S.A. 
Sumptuously e le gant 3 bedroom lux- 
ury nome oo uie grounds of The 
BiJtmore near Sooitsdaie. Lots of 
amenities incL cathedral windows, 
gorgeous pool lush landscaping. 

Call Marv Helen McGinn 
(602) 9494O0O or 1-800-633-1 133 

6808 E. C me lh ac k Rd., 
Scottsdale, Arizona 852S1. 


The Soviet apology, a 

Vessels from the Soviet North- four of the latest additions to the 

era, Baltic and Black Sea Fleets Soviet Navy, two Sovremaray dass 
were reported to be taking pan in destroyers and two Udalpy dass 
the exercise. destroyers, in addition to two 

[Reuters in Brussels quoted Ad- Kiesta dass cruisers and a Kashin 
miral WcsJey L McDonald, tbe su- class destroyer, 
preme allied naval commander, as The statement said that NATO 

lour oi tne latest aaamons to ure --j west irriand were sraiulat- j. - 

Soviet Navy, two Sovremenny dass jm- xjaTO aircraft carrier battl e rtidto emrimnoii 

run which to COIltaCl tbe Non- 

saying that the a erase was the patrol aircraft had responded to 
largest projection of Soviet sea the exercise by flying anti-subma- 

power in hislwy. riue-wa 

[He said that the exercise, bring- stomai 
ing together submarines and snr- jj 
face ships from the Kola Peninsula sorties 
and the Baltic and Black Sea fleets, achwvh 
looked to be larger than the Okean Soviets 
“75 maneuvers, which involved airdefe 
about 100 combat and supply interas 
ships.] ported" 

NATO's Eastern Atlantic sur- iyumra 
vdllance coordination center at 
Norihwood in London said a naval 




We can offer outstanding opportunities 
to a few successful brokers to join our 
new team in London. 

If you have a proven success record in 
handling private client accounts and 
would like to join this exciting new 
group, please write or telephone 
Hilliard Staton. 

Merrill Lynch, Pierce, 

Fenner & Smith Ltd, 

25 Davies Street, 

London WlY 1LN. 

Telephone: 01-493 2223. 

Merrill Lynch 

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; agd 35-45. 

Please send extensive resume and two colorjihoto- 
graphs to: ATTEN: DS 

p.o. Box 64719 
Los Angeles, CA, U.S.A 

duo-warfare arid surveillance mis- 
sions and added: 

“A large number of air defease 
sorties h aw al so been flown, 

air defense regions. Many of these 
interception sorties have been sup- 
ported by tanker and arrbome eai^ 
ty warning aircraft,” 

The statement said that Soviet 
maritime aircraft conducted anti- 
submarine warfare operations in 
tire central Norwegian Sea. 

It said other Soviet nussions 
south of Iceland and west of Brit- 
ain had probably teen assigned to 
locate Soviet ships playing the role 
of NATO forces cramncndng a 
wartime remforcerumt of the alli- 
ance’s northern flank. 

More than 40 major Soviet sur- 
face ships and seven submarines 
were coim led at sea, and the North- 
wood statement said that it would 
not be unreasonable to assume that 
another 30 vessels, “the mqarity of 
which are modem nuclear-powered 
attack submarines” were also tak- 
ing part in the Soviet exercise. 


GmwV, 75008 Part The Very Rev. 
Jam** R. 1*0, Dean. Mtfro: G*arg*-V or 
Almo Mqtobou. Sundayi 9 am, 11 am 
Church uhoal and aurcary 1 1 am Waafc- 
dayti 12 neon. TMj 7Z1.17.92. 

Vtow-Cbiomfafer, 75006 Pari*. Malro 5f.- 
5u|pk». Sunday wonhlp in EngEsh M5 
am, Rev. A. SanmervUe. TeL 607.67.02. 

** «.«««««» wartime. Rentes reported from Th(k to „ One of the black organizers was 

ppm northern Norway. Brussels. reportedly detained briefly Thurs- 

Three Soviet naval groups gath- STSl SS; frbLtehad m &yby tixpdlkc. 

ur of the latest additions to the «d west of Ireland were simulat- StiS^ 0 ^SnTli“ ^ boycott here was rajd by 

ing NATO aircraft carrier battle Krak W,or T*** ^ ? t ^ r hod ^ to 

groups sathng northeast toward P 1 ® 88 decoanda indndmg a freeze 

SMJ of Soviet suhn*. prteofSlood*. to 

rines and surface ships. withdrawal of mflitaty prasonnd 

Admiral McDon^said, “They aboul ^ 1X3111 ^ 1116 from black townships, and the dis- 
are exercising that navy as a Oiretmtative explanation far the mantling of blade local govmi- 
connter to what they perceive to be episode is that the Norwegian ac- ments regarded by blade activists 
NATO’s way of using its navy." which involved using strong as ooQaboratois with the white au- 

The admiral said the Soviet sub- sound signals, interfered with Sovi- thoritks. 

northeast toward 
of Soviet subma- 

rines and surface 

Soviet sub- sound signals, interfered with Sovi- thoritks. 

marine barriers woe deployed be- submarine commu nicatio ns. The Traders reported a large drop in 
tween Iceland, northern Scotland Navy is aradnetmg a naval revenues, and some shops either 

and southwestern Norway. The exercise m the Barents Sea and in dosed or began laying off workers, 
second line was across the Norwo- the north Atlantic. SiKxiunjestbcganiilSoiithAfri- 

gian Sea and the last on the western There has also been speculation can blade townships in October, 
edge of tbe North Cape, where sim- that tire Soviet Uniat might have about 500 people, all but two of 
dated air strikes from the Kola been suspicious that the vessel was them blacks, have been reported 
were being coordinated with sub- following the Soviet naval exercise killed. But rardy has black protest 
marine* camouflaged as a noumflhary ship, -impinged directly on white living 

Christie’s to Pay $80,000 Penalty 

The Associated Press 

NEW YORK — Christie’s International has agreed to pay $80,000 
in penalties and fees in partial settlement erf charges that an executive 
lied about results of a 1981 auction, tire city’s Department of Consum- 
er Affairs announced Friday. 

surrender his New York auctioneer's license, offidals for’ cfnistie’s 
and the rity agency said. Christopher Burge, who succeeded Mr. 
Bathurst, agreed to a four-mouth suspension, the officials said - 

Mr. Bathurst has conceded that only one of eight painting s up for 
auction on May 19, 1981, had been sad but that Ire had issued an 
statement that three paintings had been sold He said he falsely 
reported a Gauguin bad sold for St J milli on and a Van Gogh for S 2.1 

He said he had feared that the art market would be hurt if he 
reported that only one of the eight paintings had been sokL 

impinged directly on white living 
styles, since the townships are usu- 
ally situated far from residential 
and business areas reserved by law 
for white ownership. 

■ Drtcbman Handed Over 

Klaas De Jonge, a Dutchman at 
the center of a diplomatic dispute 
between South Africa and the 
Netheriands, was handed over Fri- 
day to the Dutch Embassy in Pre- 
toria by police, an embassy spokes- 
man said, Reuters reported. 

Mr. de Jonge, who had been held 
on suspicion of arms smn g gKn g for 
black guerillas in Soutn Africa, 
was fonxbly taken by police from 
the embassy grounds last week af- 
ter an attempted escape. The Neth- 
eriands strongly protested the po- 
lice action. 

after traces of diethylene-giycol a toxic chemical used in automobile 
antifreeze, were found in three Austrian wines sold in the United States 
and r_anaria, a spokeswoman said. 

She said the agency did not know how much contaminated wine had 
found its way into U.S. markets. A number of European countries have ; 
withdrawn stocks of Austrian wines since discovering tbe problem. 

Teacher Selected for Space Shuttle 

WASHINGTON (AP) — Vice President George Bush on Friday 
named Sharon Christa McAitliffe, a teacher at Qmcord High School in 
Concord, New Hampshire, as the first American scheduled to go into 
orbit aboard the space shuttle as a passenger. 

Barbara R. Morgan of McCall-Donnelly Elementary School m 
McCall Idaho, is logo on the flight if Ms. McAuliffe cannot. They were 
selected from among 10 finalists to fly on the shuttle Challenger in 

Ms. McAuliffe, who has an 8 -year-old son and a 5-year-old daughter, 
has been a teacher for 15 years. She said she is paid “a fittie over $2) JXXT 
a year. Her husband is an attorney. • 

Miller Named to Succeed Stockman 

WASHINGTON (UP!) — President Ronald Reagan nominated James 
G Miller 3d. 43. on Friday to replace David A. Stockman as director of 
tbe Office of Management and Budget. Mr. Miller is chairman of the 
Federal Trade Commission. The nomination, which must be confirmed 
by the Senate, was expected. 

Larry Speakes, the White House spokesman, said, “The president is 
particularly pleased to make the appointment of Jim Miller to this job, 
calling Mm an outstanding individual with considerable experience and - 
background that will be a tremendous asset to the administration.” 

U.S. Offers Reward in Marine Killings 

WASHINGTON (UPI) — The State Department announced Friday 
that up to $ 100,000 would be given for information leading to tire 

rwn^cnticKi anrf pnnixhment of the gunmen rnspnn«nhle fpr the tiffing of 

four U.S. Marines and two American civilians in an outdoor restaurant in 
San Salvador on June 19. 

The secretary of stale was authorized to give up to $500,000 in rewards 
under an anti-terrorism lawjfessed by Congress in 1984. 

The reward announced Friday was the .first offered under the law, 
although officials considered offering a reward for conviction of the 
hijackers who ItiDed Robert Dean Stethem, a UJ5. Navy diver, aboard a 
TWA plane in Beirut on June 14. 

OAU Leaders Adopt Recovery Plan 

ADDIS ABABA, Ethiopia (UPI) — African leaders adopted a pro- 
gram Friday to help tbe continent recover from its economic crisis and 
famine thremgh doser cooperation and agricultural reform. 

The summit meeting of the 50-nation Organization of African Unity 
moved quickly mapproving the so-called “Addis Declaration” to put the 
continent on a course of self -reliance, A key element erf the declaration is ... 
a call for an international conference “to discuss Africa’s external debt 
with a view to arriving at appropriate emergency solutions to alleviate the 

debt service of^bout $20.4* billion has strained the continent's weak 
economies. The leaders vowed to give the highest priority to implement- 
ing a program for rehabilitating agriculture “in order to lay the founda- 
tion for Africa’s food self-sufficiency." 

For the Record 

A former GA doit accused of giving a Ghanaian friend secrets about 
U.S. spying operations has been released from a Washington jafl and 
placed m nor parents’ custody. (UP!) 

Paris of California became eligible Friday for relief funds after Presi- 
dent Ronald Reagan declared them a major disaster area because of a 
series of brush fires. (UPI) 

Israel will release another 100 of the Arab pris oners whose freedom was 
demanded last month by hijackers of a TWA airliner, the Defense 
Ministry said Friday. (UPI) 

Tbe Betgnn par tiameot ’s lower bouse gave a vote of confidence Friday 
to a limited program of tax cuts and higher social benefits that Prime 
Minister WOtried Martens plans to enact before an early general decticaj 
00 O**- 13- _ (Reuters) 

Span’s air traffic coatroflers planned to go ahead Saturday and Sunday - 
with a 48-hour strike, but minimum services decreed by the g n w m nMnt ? 
will make the work stoppage largely symbolic, the cxmttoQera union Said 

Friday- . (Reuters) 

The Democratic Renewal Party, a new political group set up by 
supporters of President Antonio Ramalho Eanes of Portugal, has oeen 
formally recognized, the state bulletin said Friday. - (Renters) 

; Mr ; 

n TV 
. r 

Palestinians Proposed for Talks 
Named by Arab Paper in Jerusalem 

Irtl Mtowihh 9 rw L Nrforf. Sunday 
Bfcla hr. (dt agas) 9-A5 am WonKp 1 1 +0 
tu*. Tti. 255151/2531 15. 


tMTARIAN-UsDVGBSAUSr, wonhlp and 
ocfwitia* in Europe. C on ta ct EUU, Stare 
M(,SanagtVMt20, 1271 NCHwanJIre 
NatfwHandL Tab (+31 ) (Q> 2152 55073. 


IMMANUEL CHURCH mar dty cantor: 
Mendy dirbfai fc fl wnhip. Sunday 11 4XL 
Tali (08) 316051, T 51 225. 

7b place an advertisement 
in this section 
pleas* contact: 

Ms Elizabeth HE* WOOD 
181 Are. Gb-de-Gmlle, 
92521 NenflN Cede*, Prance- 
TeL: 747.12.65. 

New York Times Service 

newspaper in Jerusalem, A1 Quds, 
has published the names of seven 
Palestinians proposed to be mem- 
bers or a joint team with Jordani- 
ans to pursue Middle East peace. 
The names woe confirmed by U.S. 

Here are the Palestinians and 
their backgrounds, as made' avail- 
able by the Palestine Research and 
Education Center in Washington: 

• Khaled al-Hassan. a founder 
of d-Fatah, the leading organiza- 
tion affiliated with thePLO, who is 
chief foreign affairs spokesman for 
the Palestine National Council 

• Faiz Abu Rahmeh, former 
head of the bar association in the 
Gaza Strip. 

• Hatem Husseini, former head 
of the Palestine Information Office 
in Washington and a member of 
the Palestine National CountiL He 
teaches at Shaw University in Ra- 
leigh, North Carolina. 

• Saleh al-Taamri, member of 
Fatah, former PLO leader in south- 
ern Lebanon, who is married to a 

former wife of King Hussein of 
Jordan. He lives in Turns. 

• Nabil Shaaq member of the 
Palestine National Council promi- 
nent member of the PLO and dose 
adviser to Yasser Arafat, the PLO 
leader. He lives in Cairo. 

- • Hanna Seniors, editor of the 
Arab newspaper A1 Fajr in East 

• Henry Rattan, lawyer and his- 
torian, who lives in Pans. 

Israel has rqecled the list, which 
the United States provided on 
Wednesday. The names were sub- 
mitted fry King Hussein, who got 
them from Mr. Arafat 
U.S. officials said that the deci- 
sion on what to do about a Pales- 
tinian-Jor daman meeting would be 
made soon. Secretary of State 
George P. Shultz is to return to 
Washington after two weeks in the 
Far East Richard W. Murphy Jr., 

assistant secretary of state for Near 

Eastern and South Asian affairs, 
returns Friday from vacation. 

They will have to look at the 
names, consider the Israeli reaction 

and decide whether to set a date for 

a meeting decide a garne t a rp^ ting 
or seek further names and clarifica- 

Israeli officials immediately de- 
nounced the list as mduding mem- 
bers of the Palestine Liberation Or- 
ganization or the Palestine 
National Council the legislative 

arm of tbe PLO. The United States 
has said it would not deal with PLO 
members but would consider talk- 
ing with council members. 

Three of the proposed candi- 
dates seemed to meet U.S. condi- 
tions: Mr. Abu Rahmeh, Mr. Sen- 
iors and Mr.- Rattan. 

■ Peres Said to Write to U-S. 

Prime Minister Shimon Peres of 
Israel is preparing a letler to Secre- 
tary of State Strait? adring the 
United States not to meet with the 
Palestinians selected by Jordan, tbe 
newspaper Yedioi Abroad said 
Friday, as reported by Reuters 
from Jerusalem. 

The paper quoted Israeli leaders 
as saying, however, that they 
doubted that Israel’s opposition 
would be effective;-' 

: MCup -ic=^ 

at’xT , ^to|t 

- C * i«Onir V ., ^ 


’ UU-.-r , «- > J '’fcsc^ 



*4* .lrr.'-ij ^ 

, .«. . „ Po»ii Jt 

c ‘ s *-*fc.8|(J«r 

>f Austrian 

P.iAu-'- r ^ R,h:b «^* 

• ‘-‘•••HeUniJj 


■“e Jis proHm * 

r Space Shuttle 

T?,!cT' : , x -~‘ ’*• 3uj h «fe 

'.'^rS ' 7 "‘- T - High St**: 

*■ *ir r . . i * :r. xi.'irJiii.ij ./**• 

^"”.c. * ?jcn*r^iip cj. i 
V- s.. \. ... rcjaaot^ 
"■• ,:p •• • 7 -l!:r Chall(^. ; 

weed Stockman 


-5^ ’\:.i, • 
• l‘-i'-:_ \ >:'■:: 
gel Mi M. r 
'Ur*’..% :. -•...* 

:: '•-•ntnaiMfe 
i' iutffi- 

■' --Asrea* 

f'i r.r-. r •: ;• 

;£.%-■ .. ' ■ 

1C i ■ ■:•--•■ 

?»v ■•:::•. .' 

or r-* ■:!•• ■' 
if* - r -*-••■-■' 
tether: - - 

■; ■■; JV-tTSi 
•• 7 . -iCC u>5 

• . v.'icri 
. .■ .■ ■f -K= 

pt Recovery Plan 

rev.. i-r: ' ‘ 
- - .■ 

_.. Xt- 

" A '. ■ . ■: ’vSt 

« : . *‘..JS 3 S 


.*.<«- . :'V^^ 

- _c ’ ." ■ ' ■.■;<£- 

- - .f.7v 

Said to be Overblown 

A single nrissingddld is a trag- 
edy, bm a widely pubiidzed fig- 
ure of 1.5 nnl Hot l children mi« - 
■ mg in the United States is nearly 
50 tones the real figure of about 
31,000, according to Manuel 
Marquez of the Federal Bureau 
of- Investigation, as quoted by 
The Hartford CoeranL The 
newspaper said state and local 
officials agree. They say most of 
^hose 31,000 are runaways, not' 
lddnap victims. 

. Mr. Marquez said the FBI has 
no idea how the 13 millio n fig- 
ure was reached. 

lieutenant Robert J. Adams 
of the Hartford police said, “It’s 
just not. (be national crisis that 
it's been made out to be.” add- 
ing: “It's emotional because 
you're talking about kids.” 

US. Social Equality 
Y»- Social Mobility 

“Americans live more easily 
with vast differences in wealth 
and income than any other peo- 
ple m the West,” says Tom J. 
Farer, president of the Universi- 
ty of New Mexico. Why? “First, 
because oar culture continues to 
nurture belief in political and so- 
cial equality." 

The rich are not allowed to 
believe that they are superior, or 
entitled to deference; indeed, 
they pretend “that they are just 
good ol’ boys” like everybody 

Americans also are comfort- 
able with inequalities of wealth 
because of “a twinned belief in 
the possibility of social mobility 
and, consequently, in a connec- 
tion between economic success 
and merit, or, if not merit, at 
least hide.” 

Mr. Farer says, “There are 
those who argue that social mo- 
bility is largely a myth.” Never- 
theless, he says, “it is hard not to 
be impressed by the evidence of 
social mobility over genera- 

Short Takes 

With a crackdown on drunk 
driving gathering force across 
the United States, a soup campa- 

■W*? i! ' Z 

. ,/tA:’^ ■ 



Regrm Derides Impasse pJHH 
Over Budget for 1986; 

Talks Are to Resume i 

Page 3 

Vm AaodoM PM 

IN THE SWING — Canfinal Bernard F. Law of Boston 
takes a ride on a swing at the Sunset Point Vacation 
House in Hidl, Massa chusetts. The canfinal had re- 
ceived a check for $160,000 on behalf of the camp lor 
poor chOdiea from a chain of pizza restaurants. 

ny held a contest in New York 
for the- best nonalcoholic drinks, 
dubbed “mocktails.” Maria Fat- 
tens, who lends bar in Manhat- 
tan, won the SI .000 Drat prize for 
ho- “New York Deli,” made of 
tomato juice and healthy dashes 
of mustard, horseradish and 
Worcestershire sauce, garnished 
with a diD pickle. A runner-up 
was the “Cajun Tomato Queen,” 
a fiery concoction of tomato 
juice. Tabasco sauce and jala- 

peno pepper oil. 

Elizabeth Brinton, 13, of Falls 
Chinch, Virginia, is the new na- 
tional title-holder for selling the 
most Gill Scout cookies, an an- 
nual fund-raising sale used by 
the organization for girls. She 
sold II, 200 boxes of assorted 
cooties at $125 a box, mostly in 
the Washington area's subway 
system, the Metro. “I posh a lot" 
she said. “Sometimes they try to 
sneak past you, and you look 
than in the eye and make them 
fed guilty." 

A dog bit off the nose of Ver- 
non Jost, 58, a St Leads mail 
carrier for 36 years. Surgeons re- 
attached the nose, and Mr. Jost 
said there were no hard feeHnss: 
“The dog was just doing bis job.” 
He said, however, that it might 
be time to quit “I have been 
contemplating retirement This 
might sway me a little bit.” 

Shorter Takes: A year ago 
Kristine Holderied graduated at 
the head of a dass of 1,005 at the 
U.S. Naval Academy at Annapo- 
lis. She is currently enrolled in a 
postgraduate program at the 
Woods Hole, Massachusetts, 
f v»»*iingrpphte Institution and 
hoping to earn a doctorate. ... 
As part of the mrucing up of 
Walden Pond in Massachusetts, 

t h* am plA «hiii»WI r»h fp h nih in 

By Helen Dewar 
and Anne Swardson 

Waihingwn Pan Senicr 

Regan, the White House chief of 
stan, has denounced the congres- 
sional budget stalemate as “ridicu- 

House-Senate negotiators, who 
broke off the talks Wednesday 
night, indicated Thursday that they 
would try again, possibly next 
week, to agree on deficit reductions 
for the next three years. 

But there was no movement to- 
ward an agreement, and congres- 
sional leaders agreed that the out- 
look for a settlement was 'not 

In an outburst Thursday that 
matched the recriminations of con- 
gressional negotiators when their 
talks broke down, Mr. Regan urged 
conferees in the Senate and the 
House of Representatives to return 
to the talks mid “cut federal spend- 
ing, cut federal spending, cut feder- 
al spending.” 

The dispute is over how to trim 
the federal deficit, projected at 
more than $200 billion annually, by 
about $50 billion in the 1986 bud- 

Thoreau built the orii 
cash outlay was $28,121 
— Cot 


The White House and congres- 
sional negotiators agreed last week 
on a framework for settling differ- 
ences that would have allowed So- 
cial Security and military spending 
to increase at the same rate as infla- 
tion, but difficulties have arisen 
over how to cany out the agree- 

The House Budget Committee 
chair man, William H. Gray 3d, 
Democrat of Pennsylvania, con- 
tended the Senate was wrong in 
characterizing a House-proposed 
compromise on domestic and mili- 
tary spending as inadequate. “I’ve 
left the door open that we perhaps 
could make some more move- 
ment,” he said. 

The speaker of the House, 
Thomas P. O’Neill Jr„ a Massachu- 
setts Democrat, called on the Sen- 
ate to return to the negotiations, 
saying it was “kind of childish to be 
walking ouL” 

In the Senate, where Republi- 
cans remained angered over the 
White House's abandonment of 

their proposal to freeze Social Se- 
curity retirement benefits and dis- 
ability payments, a Republican 
caucus gave a vote of confidence to 
(be Senate negotiators, led by Pete 
V. Domenid, fcpublican of New 
Mexico and chairman of the Senate 
Budget Committee. 

White House intervention con- 
tinued to be an irritant for the Sen- 
ate Republicans, who felt slighted 
by President Ronald Reagan. 

Senator Lawton Chiles, a Hon- 
da Democrat, said the Republicans 
were angry at the White House and 
House Democrats Tor rejection of 
the Social Security freeze. But. with 
President Reagan in the hospital, 
“you don't dump on him so you 
dump twice” on the House Demo- 
crats. Mr. Chiles said. 

Mr. Regan made no distinction 
between the two chambers in con- 
demning the delay in passing a con- 
gressional budget resolution. 

Every city in the United States 
“has a budget,” Mr. Regan saidL 
“Every state of the union has a 
budget. The federal government, 
the world's larges! economy, the 
strength of the free world, is about 
to go into its new fiscal year with- 
out a budget. How ridiculous can 
you be?” 

Mr. Regan said that “at the cur- 
rent rate, we will have no budget at 
all.” an outcome be called “dis- 

■ Reagan Appeal Is Rejected 

The Senate brushed aside Thurs- 
day a strongly worded appeal from 
President Reagan and failed to end 
a filibuster blocking legislation that 
would give the president vastly in- 
creased power to veto spending 
measures. The New York Tunes 
reported from Washington. 

Since Wednesday a bipartisan 
group of primarily liberal lawmak- 
ers has slopped the Senate from 
considering (he legislation. The 
vote to halt their filibuster was 57- 
42. Sixty votes are needed in the 
Senate to end debate on legislation. 

The proposal would permit a 
president to reject individual items 
in an appropriation bill Governors 
of many slates have this power, 
known as a line-item veto, but the 
president must sign or veto an en- 
tire bilL 

: 'Tn-. treat 

yattener.; .. Musafec „ 
i? a: ; ^ ........ ;.-j \ :>;enauz ‘ > 

xi x. -;'. : : -•c-. iwt" 

in Marine Killin* 

'J'- ">rr-: r: j. - {.\aJfc 

In Haiti, Some Say the Duvalier Grip Is Loosening 

By Joseph B. Toaster 

Sew York Timer Service 

in the last few weeks, Hubert DeR- 
ooceray, a sociologist, has become 
involved in a public dispute with 
President Jcan-Qflude Duvalier. 

• Fim, Mr. DeRonceray, who had 
previously served as a government 
minister, tried unsuccessfully to 
bold a protest march against the 
28-year dynastic rule of the Duva- 
lier family. 

Then, Mr. Duvalier tried to em- 
barrass him by republishing in the 
government-controlled press a eu- 
logy Mr. DeRonceray had written 
at the time of the death of tljc 
president’s father, Francois Dova- 

Mr. DeRonceray responded with 
a fresh article in an independent 
weekly saying that although he had 
sometimes disagreed with the elder 
Duvalier’s violent methods, he still 
respected him, but bad “turned toy 
back” cm the young Mr. Duvalier. 

None of this might gel much 
notice in most countries. But in 
Haiti, an impoverished country of 
six million people that has become 
known for its lack of democracy 
and human rights, the develop- 
ments are regarded by government 
opponents and Western diplomats 
as evidence of at least a momentary 
earing of restraints on freedom of 
expression and political activity. 

“Under Francis Duvalier, 
I>ritaaoeray would have beat ar- 
rested, tortured and perhaps lriRed 
for doing these things," a Weston 
diplomat said. “Five years ago he 
might have been expelled. Today, 
he's free to come and go as he 
wishes in the capital.’’ 


Hubert DeRonceray has been publicly 
critical in recent weeks of President Jean- 
Claude Duvalier of Haiti, a stance that in the 
past would have gotten him arrested, 
expelled or killed, a Western diplomat says. 

Hubert DeRonceray 

Only a year ago, for example, 
Mr. DeRonceray, who. was then 
Haiti’s representative to the United 
Nations Educational, Scientific 
and Cultural Organization, was 
placed under bouse arrest for near- 
ly three months far saying in an 
interview published outside Haiti 
that direct presidential elections in 
his country were inevitable. 

Another critic, Gregoire Eugene, 
spent nearly four months under 
house arrest for criticizing the sys- 
tem under which Mr. Duvalier 
serves as president for life. 

Diplomats say that for the first 
time in memory they believe the 
government is not holding any po- 
litical prisoners. Bm they say the 
government has not accounted for 
at least 11 people who have been 
missing for several years. They add 
that earlier this year, the govern- 

ment acknowledged that its securi- 
ty fences had shot to death two men 
who were said to have been distrib- 

Tbe United ^tsiKa^otherpro- 
viders of foreign aid have in the last 
few years increasingly pressed Mr. 
Duvalier to make i mp rovements in 
human rights and to demonstrate 
progress toward democracy. The 
United States gives Haiti about $50 
mQHoa a year in aid. 

In eariy June, the Duvalkr-con- 
trofled legislature enacted several 
constitutional chan ge s, including 
the creation of the post of pru n e 
mnuster and regulations for orga- 
nizing political parties. Political 
parties m the past have not been 
permitted to function. 

Mr. Duvalier has described these 
as innovative political changes. Bui 
his critics say they are a sham in- 

tended to give the appearance of 
moving toward demoancy without 
sharing power. The legislation em- 
powers Mr. Duvalier to choose the 
prime minister, who is required to 
pledge his loyalty to the president 

It also requires political parties 
to pledge them support for the insti- 
tution of the president-for-life. 
Franqois Duvaher named himself 
president-for-life in 1964, after 
winning election seven years cart- 
er. In 1971, shortly before his 
death, he passed on the position to 
his son, who was then 19. 

Opponents say the requirement 
to endorse this concept makes it 
impossible to create an opposition 
parly, since a main thrust of the 
opposition has been to force the 
Duvaliers to end their family dicta- 
torship and to open the presidency 
to regular national declions. 

•Weinberger Asks 
U.S. Media, Public 
To Protect Secrete 

The Associated Press 

Secretary Caspar W. Weinberger 
hasasbed the public and journalists 
to be more cooperative with the 
V&'Sbveaniieiit in protecting na- 
tional secrets. 

Referring to the U.S. Navy spy 
scandal, in which four present or 
former navy men are accused of 
providing secrets to the Soviet 
Union, Mr. Weinberger said 
Thursday he had hoped mat suspi- 
cious about the defendants would 
have been reported sooner. People 
Tow it as good citizens to report” 
spying, be said. 

: .Mr. Weinberger criticized gov- 
ernment workers Tor disclosing in- 
formation, the press fog using 
arronymous sources and the public 
for believing what they read. The 
secretary coupled his plea for un- 
derstanding of the need for govern- 
ment secrecy with expressions of 
support for a free press. 

When the news media publish 
Stories containing classified infor- 
mation, Mr. Weinberger said in a 
speech to the International Associ- 
ation of Business Communicators, 
“they may place our defense pos- 
ture at risk. 6 

“Our adversaries can rearrange 
their military priorities accordingly 
and negate any advantage we may 
have enjoyed," he said. 

PCBs Found at Smithsonicm; Urgent Inspection Set 

By Philip S hen on 

New York Tunes Servtae 

WASHINGTON — Smithsoni- 
an Institution buildings housing 
some of the most treasured bar- 
looms in the United States will re- 
ceive an emergency inspection after 
the discovery that electrical trans- 
formers in several of thorn may be 
leaking hazardous chemicals, offi- 
cials have said. 

The Environmental Protection 
Agency, the officials said Thurs- 
day, are to inspect 57 high- voltage 
transformers in seven museums 
and an administrative building 
where polychlorinated biphenyls, 
or PCBs, are used as coolants. 

PCBs have been found to cause 
cancer in laboratory animals and, if 
set afire, could contaminate the 
museum collections. In 1977, pro- 
duction of PCBs was banned in the 
United States. 

The District of Columbia Fire 
Department recently found that a j 
transformer in the Museum of! 
American History was leaking 
PCBs and posed a serious hazard to | 
humans. A fire department official | 
said in an interview that smoke 
from PCBs was so dangerous that 
firefighters might not be permitted 
to enter a burning museum. 

"If it was a fire involving PCB 
Squid and we knew for a fact that 
there was no hazard to human life;” 
firefighters might be kepi outride 
the museum, said the official, 
McEdoo Fleming. 

However, the Smithsonian Insti- 

tution’s fire and safety director, 
Edward R. Saiecboski, said danger 
to the museum collections was in- 
significant because there was little 
chance of a fire in the transformers 
using PCB coolants. 

A Smithsonian spokesman, Al- 
vin Rosenfeld, emphasized that the 
museums were weD equipped with 
fire-protection devices. 

“If there was a catastrophic fire, 
everytihng would be in danger,” he 
said. “But we ny our damnedest to 
guard against fire.” 

He said the transformers were in 
sealed vaults far away from the 
more than 30 million tourists trim 
visit the Smithsonian museums 
each year. 

“It’s out of ibe way of tourists 
and 99 percent of the staff,” he 

The Smithsonian, be said, had a 

“long-range” plan to remove all of 
the transformers containing PCB 

The transformers are in seven of 
the Smithsonian complex's build- 
ings: the National Museum of Nat- 
ural History, the National Air and 
Space Museum, the National Mu- 
seum of American Art, the Nation- 
al Museum of American History, 
the National Portrait Gallery, the 
Arts and Industry Building, the 
Freer GaDay of Art and IheSnrith- 
soman Castle. 

Because of their high resistance 
to fire, fluids containing PCBs had 
been used since 1929 as electrical 
insulators in transformers, which 
transfer electrical current. 

If PCBs are burned, they can 
release such powerful cancer-caus- 
ing agents as dioxins. The environ- 
mental agency has ordered the re- 

moval of all PCB compounds from 
commercial buildings m the United 
States over the next five years. 

In a memorandum made public 
Thursday, an assistant secretary of 
the Smithsonian. John F. Jameson, 
told museum employees that “the 
Smithsonian’s transformers do not 
leak’ PCBs in any quantity." 

“AD transformers, whether con- 
taining PCBs or other coolants, ul- 
timately Veep’ or drip out small 
amounts of coolant." be said. 

TV “t-i 

Ronald and Nancy Reagan at the window of his room at the Bethesda Naval Medical Center. 

Bethesda: Haven for VIP Treatment 

Medical Center Has Come Under Fire for Negligence 

Some of the regime’s opponents 
also say that it wul be difficult to 
fulfill a requirement of collecting 
18,000 signatures on a petition to 
found a party. Such petitions are to 
be submitted to the minister of the 
interior, who is in charge of the 
police, and whom opponents have 
accused of complicity in politically 
related bearings and mnrders. 

“No party can operate under 
these laws,*' said Syivio Claude, 
who has been jailed several rimes 
for confronting the government 
“Instead of being a democratic 
oparing, this is a blockage of the 
democratic process.” 

Neither Mr. Duvalier nor any of 
his ministers would discuss the lat- 
est proposals, but Guy Mayer, a 
government spokesman, denied 
that the government had sought the 
constitutional changes to appease 
other nations. 

In response to the criticism, Mr. 
Duvalier announced that even 
though the measures had become 
law they would be submitted for 
the approval of the Haitian people 
in a referendum July 22. 

Five opponents of the govern- 
ment issued a communique raising 
questions about how fairly the ref- 
anendnm will be conducted and 
saying they would urge Haitians to 
boycott the vote unless the govern- 
ment agreed to bring in observers 
from the United Nations or the 
Organization of American States. 
The government has not replied. 

In 1971, Francois Duvalier held 
a referendum asking. for endorse- 
ment of the transfer of power to his 
son. That vote, the government 
said, was 2391 ,91 6 in favor and 
none against 

By Martin Tolchin 

New Kv& Times Scrrtee 

WASHINGTON — Franklin D. 
Roosevelt was enchanted by the 
site of a small, run-down farm with 
a small pond, in suburban Mary- 
land. On automobile trips Into the 
countryside, the president often 
asked his chauffeur to drive by the 
pond, which reminded him of the 
biblical Pool of Bethesda, a place of 

It was Roosevelt, a former assis- 
tant secretary of the U.S. Navy, 
who overrode other recommenda- 
tions and personally selected this 
spot as the 240-acre (96-hectare) 
site of what is known today as the 
Bethesda Naval Medical Center 
where President Ronald Reagan is 
recuperating from abdominal sur- 

^Tt was also Roosevelt who chose 
the design of the main hospital 
building, an 18-story, '588-foot 
(179-meter) tower that dominates 
the surrounding landscape and is 
the architectural centerpiece of a 
facility that offer* a fuQ spectrum 
of medical services. 

The hospital has played a leading 
role in the treatment of rite nation's 
political elite, up to and including 
President Reagan. WhQe most of 
its patients have military connec- 
tions, by law Bethesda hospital 
must provide space for top govern- 
ment officials. Members cf the dip- 
lomatic corps are also treated. 

Most nonmilitary patients are 

’a bargain for open heart surgery or 
a VIP suite. Protective of the secu- 
rity of its illustrious present pa- 
tient, the medical center refused to 
divulge either the location or di- 
mensions of the presidential suite. 

The hospital is rich in medical 
history. It was there that the body j 
of President John F. Kennedy was | 
taken for an autopsy on the night of 
Nov. 22, 1963. It was there, too, 
that former Defense Secretary 
James V. Forres la! committed sui- 
cide by jumping out of a 16ih-story 
window, in 1949. 

And while President Harry S. 
Truman got most of his medical 
care at the navy hospital's rival. 

Canada Studying 
Smuggling Report 


NEW DELHI — Canadian offi- 
cials are investigating a newspaper 
report that two Canadians smug- 
gled 1.100 pounds (500 kilograms) 
of uranium into Canada from In- 
dia's Uttar Pradesh state. 

“We are investigating the report 
and have contacted our govern- 
ment for further information,” a 
spokesman for the Canadian High 
Commission in New Delhi said. 
But he added that Canada had 
“stacks of uranium.” 

The newspaper, the Hindustan 
limes, quoted a member of the 
Uttar Pradesh State Assembly as 
telling the house Tuesday that last 
May two Canadians visited the 
northern state's Saurai area, where 
uranium is mined. Assemblyman 
Harsh Vardhan of the opposition 
Janata Party said the (women were 
helped by officials or the sta- 
te-owned Mineral Development 
Corp. to smuggle uranium out of 
the slate. 

Walter Reed Army Medical Cen- 
ter, in northwest Washington, as 
did President Dwight D. Eisenhow- 
er and Justice William O. Douglas 
of the Supreme Court, every presi- 
dent since Lyndon B. Johnson has 
used Bethesda for at least minor 
treatment and checkups. 

Johnson was hospitalized there 
three times, including one slay for 
abdominal and throat surgery. 
President Richard M. Nixon was 
hospitalized with viral pneumonia. , 
Presidents Gerald R. Ford and 
Jimmy Carter received medical 
checkups there. 

But the hospital has suffered re- 
cent accusations of malpractice. 
The most publicized involved Dr. 
Dorial M. BiHig. the former top 
heart surgeon at the hospital, who 
is accused by the navy of killing 
four patients last year by bungling 
their surgery. Several doctors who 
formerly held top positions at the 
hospital including the former hos- 
pital commander, are also facing 
disciplinary hearings for allowing 
the problems to occur. 

In addition, the hospital was 
judged negligent for failing to diag- 
nose signs of cancer in tissues cut 
from a woman in 1981. The woman 

Anti- (J.S. Protest in Berlin 

The Asstxwied Press 

BERLIN — Police clashed 
Thursday night with about 100 
demonstrators protesting U.S. po- 
licy in Nicaragua, officials said Fri- 
day. No arrests were reported after 
the protest in central West Berlin. 

won a $1 -million judgment against 
ihe government in April. 

The hospital's capacity has fluc- 
tuated over the years. Its wards, 
augmented by temporary construc- 
tion. housed 2.464 beds at the end 
of World War J). In the Korean 
War, the peak number of patients 
was 1.167. in July 1951. And in the 
Vietnam War. the peak was 1. 122. 
in November 1968. 





ud nun, i 4 ttcT turn! 

ShhtJ m ■« 1I,VW\ 

■tiOM at ihr itlol 
icmprr nuir and in 
NmukJiltnl t.mlnlum 

Ah.. naiUMr me u«pr 
iw, omen. burmVn 
and t mule tuifs .it 

the DanWbdf Shop, 



01 «*).***> 



"Europe* Best view" 


Due to technical reasons 



will appear on 

Tuesday 9 July 23 

16.00 SKY TRAX I 
15.45 SKY TRAX 2 
1600 SKY TRAX 3 

21.60 SKY TRAX 

TEL: LONDON {01) 493 1166 TELEX: 268395. 




Qtwrtt lurch in IS ■it. gold, uith ilute. 
Sliding seamless steel bracelet. 


. 10 . RUE DU RHlTNE 1204 GENEVE 

U ' 1 



Page 4- 




PtaMisbed With Tbe New York Tima and Tbe WaahngKM Poet 

Say No to Bad Trade Laws 

Hie U.S. Senate and the House of Represen- 
tatives are raring to pass unwise trade laws. 
Several years of surging imports and stalled 
exports have wiped out jobs and stirred up 
voters. In the competitive haste to provide a 
“solution,” the Republicans who control the 
Senate and the Democrats who lead the House 
have turned to crowd-pleasing protectionism. 
It is a quest that will do more Hahn than good, 
choking off yet more trade, the lifeblood of 
economic expansion everywhere. 

Representative Dan Rostenkowski of Illi- 
nois has entered tbe contest with a bill to 
impose a tariff surcharge on imports from 
Japan, Brazil, Taiwan ami South Korea, and 
demanding that Japan and the European 
Community be charged with unfair trade prac- 
tices. Although his surcharge contrivance is 
less sweeping than some erf the half-dozen 
other tariff proposals, his power as chairman 
of the House Ways and Means Committee 
makes it the most menacing. 

The co-sponsor is Missouri's Representative 
Richard Gephardt, ch airman of the Demo- 
cratic Caucus, who, like Mr. Rostenkowski, is 
looking for issues to boost himself higher up 
the House ladder when Speaker Tip O'Neill 
retires next year. The Senate co-sponsor is 
Lloyd Bentsen of Texas, but the main agitators 
for protection in the Senate are Republicans 
John Pan forth of Missouri and John Heinz of 

Pennsylvania. Both have bills aimed at Japan. 
America's trade imbalance is indeed a terri- 

ble problem. The excess of imports over ex- 
ports has more than tripled in Eve years. Some 
imbalance is tolerable, but the deficit readied 
a record total of S123 billion last year, and it 

continues to grow. Since 1980, imports have 
at afl. A major 

risen one-third; exports not 
reason is the high value of the dollar. Even as 
the dollar’s value now declines, it win take a 
year for effects to be felt. Some markets win 
turn out to have been lost forever. 

Understandably, the most afflicted indus- 

The Mideast Bazaar Opens 

There is a fuss now over the list of Palestin- 
ians nominated by Jordan to join it in talks 
with the United States. The Israelis, who insist 
that they want any Arabs who come forward to 
conduct direct talks with them, see in the list 
the familiar Arab effort to peel off die United 
States instead. Nor do they like tbe particular 
Palestinians on the list The U.S. State Depart- 
ment took the occasion of the Israeli grumbles 
to assert that it is not gong to let anybody 
“veto” its drive for peace in the Middle East 

WeD, come on, fellows. In the great bazaar 
that is tbe Middle East, who really expected 
that PLO Chai rman Yasser Arafat, whose fin- 
gerprints were an the list the Jordanians 
paffied on to Washington, had it in mind 
mainly to make things easy for tbe Israelis? 
Surely he was more interested in testing tbe 
best opportunity the Palestinians have ever 
had to open some kind of diplomatic contact 
with the United States — and to do so in a 
fashion allowing him to keep his place in the 
rapids of Palestinian politics. It is precisely the 
Palestinian interest in an opening to Washing- 
ton, of course, that gives Washington the op- 
portunity to encourage, as a price, a Palestin- 
ian opening to Israel This is key. 

And who really expected, for that matter. 

that an Israeli government composed half of 
hesitant compromisers and half of scarcely 
disguised annexationists would leap to accept 
the first Arafat-Hussein fist? Many Israelis 
fear that the United States will be taken in by 
Arab diplomatic wiles. But many Israelis also 
suspect that their only chance to work toward 
peace with Palestinians hinges on America's 
capacity to play, sometimes over Israel's ex- 
press objections, a subtle middleman’s role. 

Tbe idea of initial talks between the United 
States and a Jordanian- Palestinian delegation, 
to be followed by direct talks with Israel, is 
King Hussein’s. The United Stales saw in h an 
opportunity to get away at least for a while 
from stale arguments over abstract designs 
and the usual theological details, and to bring 
a political focus to bear on the particular 
Palestinians — and on their personal readiness 
for accommodation — who might sit down at a 
ne gotiating table with IsraeL 

The United States has to be persistent and 
inventive enough to create new diplomatic 
possibilities, even at the risk of strains with 
brad along the way, but not so insistent on its 
own designs as to lose tbe Israelis’ coopera- 
tion. No pain, no gain. But the bazaar is open. 


Other Opinion 

Toward Recession in America? 

it is looking increasingly like the US. eco- 
nomy is going to drift into a mild recession at 
the very least But far the rest of the world die 
slump in the dollar is even more important. It 
has been because of the strong US. dollar that 
countries around the world nave been able to 
get into the American market But as the US. 
economic growth fades away and tbe dollar 
slips in value, this market is going to shrink 
and the effects will be felt around the world. 

— The Bangkok Post 

too bight for the country to return to the days 
when aides would impose a blackout on infor- 
mation about the chief executive's condition. 

— The Chicago Sun-Times. 

Women and Politics in Nairobi 

Reagan’s Cancer Well Exposed 

From his hospital bed President Reagan has 
taught us all a lesson about dealing with a 
disease we have too long whispered about, 
rather than come to grips with. 

— The Boston Herald. 

iis much to be preferred to the 
deceit and stealth that went into hiding Presi- 
dent Woodrow Wilson’s condition from the 
country when a stroke prevented him from 
active work. The relationship between a presi- 
dent’s health and world events is too impor- 
tant. the stakes in an age of nudear peril are 

The United Nations Convention on the 
Eliminati on of AD Forms of Discrimination 
Against Women, which has been ratified by 
over 60 countries — the Soviet Union, Cuba 
and Vietnam being among tbe first — is not a 
mere recitation of natural rights but a prescrip- 
tive document with little dashes of totalitarian 
though L Women are not merdy to be the 
equals of men. They should together with men 
form a refashioned society, what, one won- 
ders, will the ordinary women of Kenya make 
of aU this? Surely very little. 

The delegates are in actual fact or by adop- 
tion First World intellectuals. They would like 
perhaps to impose (heir solutions, their pana- 
ceas on the whole of untutored female human- 
ity. Women in different countries will free 
themselves in their own different ways. The 
United Nations applies a broad instrument 
which is sometimes dangerous and really a 
continuation of colonialism by other means. 

— The Daily Telegraph (London). 


1910: Doctors Employ Odor Photos 
NEW YORK — Doctors in New York are 
employing color photography hi their work. 
The up-to-date surgeon now notifies the at- 
tending physician that be wants an “auto- 
chrome,” or photographic plate in colors, of 
the condition of the patient. Philadelphia phy- 
sicians have also been making these photo- 
graphs. In the treatment of cancer, color pho- 
tography has in an indirect manner 
invaluable. Often there is a difference < 
ion among surgeons and the advice ot an 
authority is sought. When the consultant sees a 
colored plate of the cancer, he is better able to 
reach a decision than from an ordinary photo- 
graph. Dr. Henry W. Frauenthal, of the hospi- 
tal for Joint Disuses and Deformities, says, “I 
see in color photography an effective weapon 
a gains t malignan t and infectious disease.** 

1935: Wallace Denounces Capitalism 

SEATTLE — “Competitive capitalism” was 
attacked [on July 18] by Secretary of Agricul- 
ture Henry A. Wallace, who, before the Na- 
tional Federation of Business and Professional. 
Women’s Gabs, declared that tbe 36,000 fam- 
ilies with the largest incomes in the United 
Slates were today receiving as much money as 
the 1 1,000,000 families with the least incomes. 
“Once the continent is conquered,’’ he said, 
“the prime requisite for operating competitive 
capitalism — abundant resources and relative- 
ly few people to use them — has disappeared. 
Competition for resources becomes danger- 
ous. The capitalistic survival of the fittest may 
come to mean the survival of the shrewdest. 
That me man has 31,000,000 while another 
has only $10 Is less significant than the power 
that the first man has over the second.” 


JOHN HAY WHITNEY. Chatman 1958-198. 2 




LEE W. HUEBNER, hddisker 
Exeaarie Editor RENE BONDY 


Depmy Editor RICHA RD H. MORGAN 

Deputy Editor STEPHAN W. CONAWAY - „**,„*** 

Atucitue Editor FRANCOIS DESMAISONS Director of Ctradatm 

ROLF D. KRANEPUHL Director of AdrenUag Stda 

Deputy Ptddahcr 
Asoaaie Ptddbher 
. Associate Pvbtisher 
Director \ 

International Herald Tribune. 181 Avenue CharieHteGaulIe, 92200 Nariliv-SUr-Sdne. 
France. Tel.: (1)747-1265. Tela; 612718 (Herald). Cables Herald Paris. lfflN-®-8Q52. 

Direaeur de hi ptidkatttm: Walter N. Thayer. 

Asia Heedaurtm. 24-34 Hennessy RtL, Hong Kong TeL 5-2856/8. Telex 61170. 
MtnmngOr.U.K.: Rohm MacKkhm. 63 Long Acre. London WCZ Tel 836-4901 Telex 262009. 
Gm »gr. Fk 6000 PrmkfurtJM, 7 1 (069)726753 Tbe. 416721. 

* l r \00-0O0E RCS Namenv B 732021126. Commission POriudrr No. 61337. 
U.S. mbscriptum : $322 yearly. Seccnd-daa postage paid at Long Island Cby, N.Y. 1 1101. 
® 1985, International Herald Tribune. AO rights reterted. 

tries, workers and communities bowl for help. 
But what may appear useful to any of than is 
not necessarily advantageous to America. Tex- 
tile and dnthing want firm quotas to Kuril 
imports and have lined up majorities in both 
houses. Manufacturers of telecommunications 
gear want curbs on imports from Japan. Pro- 
ducers of cement, carbon blade and ar mnftnia 
want a protective pricing system. 

Some of the pending bds, like Mr. Rosten- 
kowslri's, would offer automatically to relax 
any new import restrictions if other countries 
relaxed theirs. But that ploy for leverage could 
easily backfire and invite retaliatory restric- 
tions abroad. It is a dangerous game. 

To meet these pressures, it is no longer 
sufficient for the administration to preach the 
merits of free trade and talk tough to Ameri- 
ca’s trading partners. Souk industries and 
their employees and communities are clearly 
in distress. The administration has turned its 
back on m eaningf ul aid to help them adjust to 
foreign competition, contending that it is ei- 
ther improper or ineffective. That callous re- 
sponse ignores whai was obviously wrong with 
past aid programs: They doled out assistance 
with no assurance that the recipients would 
make the necessary, often painful adjustment. 
Instead of abandoning the effort, the govern- 
ment needs to revive and reshape it 

A deeper problem is the easy tolerance of 
huge budget deficits and high interest rates, 
which drove up tbe dollar’s value. The best 
thing the administration and Congress could 
do for tbe whole economy, including the for- 
eign trade sector, is to ran in those deficits. 
Yet on this vital front, all hands dither. 

It is reassuring to hear tbe White House 
hinting that President Reagan would veto the 
worst of the trade restrictions now before 
Congress. It is disquieting that the administra- 
tion offers no better alternative to repel die 
pressures that inspire them. 


The Deficit Looks Deliberate 


By Tom Wicker 

EW YORK — To hear White House on July 10 would result in more military spend 

spokesman Larry Speakes tdi H, President 

nunding action on the budget deficit “this 
week.** That sounded fine — except that it now 
appears that the deficit was deliberately created 
by Mr. Reagan to do away with Democratic 
social programs dating bade to the New Deal 
Who says so? David Stockman, the departing 
budget director. And also Friedrich von Hayek, 
the Nobel Prize-winning economist who has 
been a gnrn of Reaganomics. 

Their comments suggest that the actum the 
president demanded “this weds” is what he really 
wanted as far back as the mammoth tax cuts be 

ins and no reduction in Social Security cost of 
living benefits. The only way io compensate is to 

kiB or prune even more social programs — such 
i student loans 

steered through a bedazzled Congress in 1981 — 
budget cuts to disembowel pcst-Ncw Deal 

emment- He has ruled out tax increases, i 
disastrous budget “compromise” he announced 

Economic Surgery Is Also Urgent 

as student loans ot Medicare. 

But Mr. Stockman, who daims a reputation 
for candor, spilled the beans. After the budget 
director announced his resignation. Senator 
Daniel Patrick Moymhan of New York said Mr. 
Stockman Had told him that even is 1981 Mr. 
Reagan knew the tax cuts would mean loss of 
revenue, but that the president had accepted the 
resulting rise in the deficit in order to bring 
pressure on Congress to cut spending. 

That contradicts what Mr. Reagan then pub- 
licly argued — that cutting taxes would expand 
tbe economic base and increase revenues, m his 
1980 campaign he even contended that the in- 
crease in revemies from the tax cut wcmld pay for 
the military buildup he also 
But Senator Moymhan said Mr. Stockman 
told that the real pfan in 1981 was “to have 
a strategic deficit that would give you an argu- 
ment for cutting back the urograms that weren’t 

W ASHINGTON —George By David S. Broder 
F. Will is exactly right m J 

throw up their hands when they 
found the i 

desired. It got out of 


saying that President Reagan's 
illness will save the fives of 
thousands erf potential cancer 
victims by aiding their procras- 
tination m getting treatment. If 
this were a rational world, the 

dering to the deficit.” He ex- 
pressed that latter view in cri- 
ticizing the unwise budget 
concessions Mr. Reagan made 
just before his hospitalization. 

T HE president’s brush with cancer is good luck for 
thousands of Americans whose lives wmbe saved by it 
Because of President Reagan's ex p er i ence, mfifions of 
Americans will choose to have proper medical examinations, 
and cancer will be less a subject surrounded by superatitions. 

— Syndicated cobamdst George F. WUL 

US. g o v ernm ent would also 
end its mindless procrastina- 
tion in dealing with deficits. 

Runaway budget deficits are 
the cancer in the economic sys- 
tem. The longer they are left 
untreated, the more certain and 
painful will be the end of Amer- 
ica’s current prospe ri t y. 

Four days after Mr.Keagan's 
surgery aim two days after tbe 
diagnosis of colon cancer, the 

But there is no one so blame- 
free in this process that he can 
walk away from responsibility 
if the process collapses, as it 
recurrently has threatened to 
do. For the congressional bud- 
get-makers to quit in disagree- 
ment would be exactly as inde- 
fensible as it would have been 
for tbe president’s doctors to 

i cancerous polyp. 
When Mr. Reagan s problem 
was diagnosed, his doctors did 
not hesitate or procrastinate. 
They perforated the surgery. He 
accepted the pain and discomfi- 
ture in order to achieve what 
should be a core. 

Every diagnosis of the eco- 
nomic cancer leads to the rec- 
ommendation that the budget 
deficit must be cut — with 
whatever short-term pain and 
discomfiture — by dealing with 
defense, domestic spending, en- 
titlements and taxes. 

If Mr. Reagan’s doctors had 
shrunk from doing what his life 
required, they would have been 
denounced- and rep lac ed. If this 
administr ation and Congress 
attempt to sneak off cm vaca- 
tion in August without acting 
on the budget deficit, they de- 
serve no better treatment 
The Washington Post. 

nihan’s, denies "any i 
the substance of the 

a former student of Mr. Moy- 
such conversation,” but not 

chairman of tbe Federal Re- 
serve Board, Paul A. Vokker, 

issued a similar rfingiwvg* for 

the economy. “When you oper- 
ate oq borrowed money to the 
extent that we have,” he said in 
congressional testimony, “yon 
are living on borrowed time.” 

It is die same point — indeed, 
almost a word-for-word para- 
phrase — that Walter Mondale 
made in his Democratic con- 
vention acceptance speech a 
year ago and that many others 
of both parties have node be- 
fore and since. There is no seri- 
ous challenge to that proposi- 
tion among those businessmen, 
bankers and economists who 
lode seriously at the picture — 
ot among many erf the adminis- 
tration and congressional offi- 
cials who are struggling with iL 
The Senate majority leader, 
Bob Dole of Kansas, has said 
that the government is “surren- 

afiegation. Mr. Moymhan 
said he had had dozens ofprivate talks with Mr. 
Stockman. Their “thrust,” he said, was that “tbe 
principal purpose of the tax cuts was to provide a 
basis upon which to shrink government-" 
Senator Ernest HoUings of South Carolina, the 
Committee’s ranking Democrat, made a 
charge. He told the Association for a 
Better New York in January 1984 that Mr. Rea- 
gan “intentionally created a deficit so large that 
we Democrats will never have enough money to 
build the sort of government programs we want" 
When I cited the posaoility of a planned 
deficit in as article last siring, it caught the 
a tten tion erf Dr. Eckehart Kohler of the Institute 
for Advanced Studies in Vienna. He sent me a 
t ranslati on of an interview with Friedrich von 
Hayek that appeared in the magazine Profil 13, 
in Vi enna, in tne issue of March 25, 1985. 

After remarking that his work had influenced 
both Mr. Reagan and Prime Minister Margaret 
Thatcher, that many of the president's advisers 
had come from “dixies I am acquainted with” 
and that he was wearing a set of caff links given 
him by Mr. Reagan, the economist commented: 
“I really believe Reagan is fundamentally a 
decent and honest man. EGs politics? When the 
government of the United States borrows a large 
part of the savings of the world, die consequent 
is that capital must become scarce and expensive 
in the whole world. That’s a problem.” 

But, Mr. von Hayek continued, “You see, (me 
of Reagan’s advisers told me why the president 
has permitted that to happen, which makes die 
matter partly excusable: Reagan thinks it is im- 
possible to persuade Congress that expenditures 
must be reduced unless one creates defidts so 
large that absolutely everyone becomes con- 
vinced that no more money can be spent.” 

Unis, the economist said, Mr. Reagan “hopes 
to persuade Congress of tin necessity of spend- 
ing reductions by means of an immense deficit. 
Unfortunately, he has not succeeded!" 

But he has, more than Mr. von Hayek could 
know last March. Now he wants more. While 
some Americans : 

emment makes a deKberatdy created 
“partly excusable;” such a deficit still reflects a 

yet to be calculated. And congressional 
oats should realize the source of the 
they are under to sell their political 
The New Yorkfimes. 

An Exhibit; 
Enola Gay 
For the Kids 

By George F. Will 

S UITL4ND. Maryland — Anteir* 
ca i 

t*: A 

needs a spacious auk, and tae 
corner of it is here Some corner: 25 
buildings house the Snrnhsrauan'sret 
serve collection of aircraft. A Soviet 
ami-aircraft missile sits next to Job? 

Kennedy’s campaign plane. "Can, 

line.” There ts a Grumman "Aveng, 
er” of the son the young George Bush 
was shot down in. But the 
causes a visitor to caldi his breaths 
the dull silver fuselage of a B-29 bear- 
ing the stenciled name "Enola Gay." 

The atomic age. which begat is 
secret in a New Mexico desert at 
dawn 40 years ago July Iti. an, 
nounced itself 21 davs later when Qk 
E nola Gay’s bomb bay opened. The 
fuse unleashed neutrons that created 
in 22 pounds of uranium an explo- 
sion that occurred in one-tenth' of a 
millionth of a second. 

In 1 932 in Cambridge, England, at 
Cavendish Laboratory. James Chad- 

Thai NV 

Ma v k* 

0 rid*? 

( it ■titan 

wick discovered the neutron, the key 


to penetrating the atom's nucleus i 
unlocking energy from matter. . 

Thirteen years later, when the B-29 
fliers asked what they had vohm- 
teered for. they were told that their 
509th Composite Group was “ * 
to do something different-" 

they reached Tinian, in range of Ja- 
pan. Tokyo Rose was on the 
reading the doggerel that American! 

The World Economy Needs More Japan, Not Less 

B russels — what the world 

needs is more of Japan, not less. 
Japanese multinational corporations 
must start to export jobs if they want 
to keep on exporting goods. 

On ms just completed European 
tour, Prime Minister Yasnhiro Naka- 


son e listened politely to the com- 
: French and Italian gov- 

plaints of the] 
eraments and the EC commissiOQ in 
Brussels against his country’s mount- 
ing trade surpluses. Japan is accused, 
by the United States as well as by 
Europe, of “unfair” trade practices 
that range from concealed import 
barriers to destructive export surges 
that flatten Japan's competitors and 
aggravate unemployment 

aace. In America, anger over X 
nese trading practices has 
such a pitch that Congress scans set 
to pass pro t ectionist legislation in the 
next few months. The European 
Community, after years of pleading 
with Japan for export restraint and of 
warnings about me unpleasant con- 
sequences, could well follow suiL 

Yet Mr. Nakasoneand his Europe- 
an hosts know that it is too late tor 
Japan to bring its foreign trade back 
into balance. US. exports to Japan 
are now only two-fifths the leva of 
Japanese goods sold in America, de- 

a£?ut twice the size: The Eorap!^ 
are in the same situation, with the EC 
countries selling half as iwm4i to Jar 
con as they boy. Clearly, with the 
EC’s deficit with Japan at $10 bflfion 
and that of the United States headed 
for 550 billion this year, there can be 
no rapid solution. Japan’s competi- 
tors are too far behind for that 

The Japanese are bong disingenu- 
ous when they say that with import 
subsidies and tariff slashing they are 
doing a H They can to correct the im- 
balances. They have consistently 
sheltered their own fledgling indus- 
tries from foreign competition, aid 
that policy, together with Japan's re- 
fusal u> shoulder the responabifities 
that go with bring an economic su- 
perpower, have won it few friends. 

At the same time, though, the Japa- 
nese are growing impatient with their 
trading partners’ na gging “in our 
perception,” maps a top Japanese 
diplomat in Brussels when talking of 
economic cooperation, “Europe does 
not reciprocate the interest we takein 
iL” Tbe apologetic and self-effacing 
Japanese of previews years have be- 
come brash and irritated by Europe- 
an and American shortcomings. 

The same diplomat referredto Ja- 
pan as the “forenmna” erf other 
Asian countries that are developing 
into powerful trading nation^ Un- 
wittingly perhaps, be put his fing er 
on the root cause of resentment 
against Japan: The snowballing trade 
surpluses are not nearly as worrying 
as the dawning realizatkm that the 
Western nations have no special mo- 
nopoly on industrial weal: 

By Giles Merritt 

The answer to Japan's worsening 
political difficulties is. of course, 
for it to step up its foreign invest- 
ment in manmacturing. There is 
much scope for Japanese industry to 
establish itself in markets that it cur- 
rently exports to, and such a policy 
would show results quickly. 

The proof, interestingly enough, is 
provided by Franoe. Since the French 
government’s tactic three years ago 
of designating the southwestern pro- 
vincial town of Poitiers as sole entry 
point for video tape recorders, Japa- 
nese direct investment in France has 
soared. Last year 28 companies sud- 
denly set up there, helping to boost 
Japan’s spending on manufacturing 
operations in the European Commu- 

ty by 70 percent from 1983 levels. 
There remains ample room for Ja- 

pan to increase its overseas manufac- 
turing activities. At present they are 
tiny when compared to Japanese di- 
rect exports. Last year Japan’s ex- 
ports were worth $170 bfllioa in aR 
while its investments in manufactur- 
ing plant abroad rose by S2J billion 
and brought the cumulative total 
over the past 35 years to $22 billion. 
Japan’s runaway trade surpluses, 
meanwhile, amounted to some $115 
billion for 1981-84. According to 
OECD proj^OTj, 

Only a quarter or so of Japan’s 
overseas investment is in manufac- 
turing, and according to Tokyo the 

number of jobs created woridwide is 
no more than 40,000. The bulk of that 
investment has traditionally gone to 
Southeast Asiaand to Latin America. 
Nobody would begrudge the Third 
World its share. But die Europeans 

are understandably disappointed by 
to 1 1 percent, worth in 

their mere 10 
all some $13 hfllinri. 

The Japanese appear to find it 
harder than other nations to recruit 
foreigners as executives in their com- 
panies. That in turn slows the process 
of turning Japan's industrial giants 
into multinationals. The Europeans 
and Americans could spod the trans- 
formation by themsrives investing 

on Tinian had written to ridicule the 
509th’s strange training mission: 
“But take U from one who knows tbe 
score, the 509th is winning the war.” 

Wen, yes. At tbe stunning moment 
in New Mexico when Robert Oppen- 
hrimer had thought of “the shauercr 
of worlds,” a general bad simply said: 
"The war’s ova.” 

As the Encda Gay approached Ja- 
pan tbe copilot was wri ting a letter to 
his parents. He wrote this sentence: 
"There will be a short intermission 
while we bomb our target-” Next, be 
wrote tins in a wild hand: “My God.” 

The government committee that 
bad kept the secret of Che bomb pro-' 
ject (neither Admiral Nixnitz nor 
General MacArthur knew about the 
bomb until July) said it should be 
considered not just as a weapon but 
“in terms of a new relationship to 
tbe universe.” Forty years on, it 
would be extravagant to say that the 
new technology of mass destruction 
has had such a transforming effect, 
spiritually or practically. Why should 
it? Conventional munitions' on (he 
ground at Verdun killed many more 
people than nuclear weapons have. 

Pug Henry, protagonist in Hetman 
Wouk’s “War and Remembrance,’’ 
says: “Ether war is finished, or we 
are.” It is too soon to say whether we 
are, bat war certainly is not It flour- 
ishes beneath the umbrella. 

However, the first two bombs were 
war-enders and life-savers. They pre- 
vented perhaps a million American 
casualties and probably roared Japan 
at least 10 times the 210,000 deaths 
they caused. Each bomb killed fewer 
people than were devoured in each of 
two B-29 raids on Tokyo. 

Those raids were previews of what 
the autumn would have brought Ja- 
pan had 23 million regular soldiers, 
250,000 ganisoa troops, 5,000 kami- 
kaze aircraft. Children were being 
trained to strap themselves with ex- 
plosives and roll under tanks. There 
were potentially 30 millioa 
with the will to die shown 
nese on Okinawa and I wo Jima. 

US. officials were too uncertain 
of the new technology to risk a non- 
lethal demonstration for Japan that 
might have been a dad, producing 
hardened Japanese resolve: Then; 
were just two bombs. Until after (he 
second bomb fell, Tokyo was bent on. 
a face-saving (and perhaps compro- 
mise-achieving) bloodbath. 

Tbe use of the bombs was seized 


— v 

-V 7 




i W I BIX 


more in Japanese projects. In short, upon by persons eager to portray 
the message is: Don’t shout at the America as a crude giant whose ted>" 
Japanese —lend them money. ndogical. power is disproportionate; 

International Herald Tribune. 

|S£ But Tokyo May Not Need 'Star Wars’ 


are not the only ones 
‘ to participate in research for 
rs Strategic Defense 
Initiative. Japan, too, has been at the 
receiving end of the administration's 
exhortations — pressures that are 
somewhat less I 

By Andrew J. Pierre to . Japanese support 

■ the initiative, but it should av 


lEcbm that never- 
theless risk derailing an otherwise im- 
proving defense relationship. 

“Star wars” most not join trade as 
a source of U ^.-Japanese -friction. 
Nor would the West’s interests be 
served if, as a result of the SDL Japan 
began to question nudear deterrence 
and its own nonnuclear defense. 

The Pentagon is enthusiastic about 
Japanese technology and know-how. 
In such areas as sensors, computer 
technology and electronics, Japan is 
seen as more advanced than the Eu- 
ropeans — and its business commu- 
nity has shown considerable interest 
in the project. Bat, as in Eurtipe, 
foreign policy and strategic consider- 
ations come before economic inter- 
est, and the Japanese are h esitating 
^ — ition parties have voiced 
able resistance; a major con- 

conference in Bonn. He dearly fears 
the domestic political consequences 
of support for a strategic defense. 

Senior officials in Tokyo say they 
are puzzled by theSDI and by Wash- 
ington’s contradictory statements 
about iu In particular, they wonder 
how it would affect Japan. They have 
been told that it could defend Japa- 
nese territory from Soviet land-based 
missiles — a dubious possibility — - 
but they do not know whether it 
would protect them' from the cruise 
missiles cm Soviet submarines. 

The Japanese want to be seen as 
supporting a major program of their 
chief ally. But they fear being left out 
on a limb, should the initiative col- 
lapse after Ronald Ragan leaves of- 
fice. So they have tried to distanoe 
themselves from the more gung-ho 
enthusiasts in Washington by sup- 
porting senior arms control adviser 
Paul H. Nitre's view that a strategic 
defense must be both snrvivable and 
cost-effective than offensive 

- - - for 

the initiative, but it should avoid 
presang Japan too strongly. Derfense, 
and nudear weapons in particular, 
remains a highly delicate issue in Ja- 
pan. Washington should proceed 
with utmost caution, particularly 
since it may want Japan’s political 
support more than its technological 
know-how. Fracturing the nonnucle- 
ar consensus in Japan or unhingmg 

ty relationship is not worth the price 
of Tokyo’s participation in the uncer- 
tain “star wars” project 

The writer. •, a senior fellow a the 
Council an Foreign Relations, contrib- 
uted this to The New Yak Times. 

to its moral maturity, a nation wife 
a cold Machiaveffian. heart beating 
slowly beneath a thin lacquer erf vfe-j 
ahsm. But Madriaveflfs bad repute 
tioo is the unjust price he paid £dr 
being an unsentimental nioralist iM 
world addicted to moral evasions. 

He said that a material jutd mehtaT 
capacity for violence underlies * 
great nation’s power. The moral im- 
perative is to economize vioterioe h? 
distinguishing be^een legitimate 
and illegitimate uses. Lcgtimatenses 
are to reduce violence rndpiesesinoc 7 
promote good objectives. " 

In a few yearn, tbe Enola Gay . is to 
be displayed with other aircraft .at a 
new musenm at Dulles Airport in 
Virginia. It wiH be visited by hun- 
dreds of thousands of fathers Bid 
their children and granddfldrenwto 
would not be ahve had. the tjro 
bombs not made unnecessary antB\ 
vasion of Japan. Tbe museum w3U* 
a school teaching sobriety. _ , . .. . 

Washington Post Wjiten Group s . 

RG 7c 




» U >.« : 


V v ret 

*** M 

v -v. 

X ’ ^7 n 
1 Chol rink* 



' m 

• TjJjIj* 

Enrope Into the SDI Gap TltePraident Ys- 

Walter Schulze’s lens (July 12) 
fears con- 


cent is that “star wars” will lead to forces. Certainly, the Ja panese are 
“militarization of space," in contra- unlikely, to commit themselves fur- 
ventiou of a 1969 Diet resolution hm- ther than America’ s Pji mpwm aTH w; 
iting Japan’s role in space to “peace- Some Americans believe that eco- 
fuT purposes. Debate in the Diet has nomic incentives and the inducc- 
also raised questions — previously meats of technological cooperation 
avoided — about the adequacy of will drive the Japanese to participate 
deterrence, the reliability of the U.S. in the initiative. They cotud be mis- 
nudear guarantee and the extent to taken. Japanese business leaden do 

which Japan’s participation would 
move it away from the nonnuclear 
principles adopted after the war. 

not want to be left b ehind should 
strategic defense research lead to im- 
portant technological breakthroughs. 

Prime Minister Yasuhiro Nafca- but they remain highly im mrtani 
sone- seeks to expand Japan’s inter- about the commercial spmoffs of this 
national role, induing —to a limit- new, esoteric ' ~ 

ed degree at least — its defense wish to avoid 

notes that current French 
cent not so much posable Ger man 
“neutralization” — a ranario long 
out of touch with the remotest politi- 
cal reality — as the American Strate- 
gic Defease Initiative. The SDI, how- 
. eve r, has imieh less to do with nuclear 
deterrence than with technological 
innovation. No serious strategic ana- 
lyst really expects the initiative 
even if it works — to amount to more 
than a partial defense against certain 

kindsOT delivery vehicles. 

The economic spin-off of “star 
wars” is a more fundamental nmy 
for European worry, fince it involves 


“State of . Mind May Hdp:£Wff 
Parian” (July /5j, by Nonn&G* Sl ' 

dandy dear^thai he 
passive cancer patient. 





* #*■ 

2, 2-?65.77M 




fi 7T 

same vigor as Ik has , 

presidential duties.. 

American public 

that if the preadent caBboffiK^ ha® 
from the threat erf cat 
ness, so can the nation. 

Si? 17 .®**,- 


- 4 rr. jmSr 


fear of iL To face it 

ommeroal sp moas of this the future ra mp e ri tive capadft of tins dialknge now,i»ia^ 
k pace endeavor. They countries and companies. Preadent 1 will remember himfoc itu 
tt u- t# « id domestic atticism and Francois hfittenaxufs .hastily con- On* 

respo nsibil ities. He sees hunsdf as a do not want to place themselves in a 
Mead and supporter of President “'subcontractor’^ positiotiNor would 

Reagan, and tas early instincts were 
Yet he remained 

y want to aDow the fruits trf their 
to rack the SDL Yet he remained endeavors to be subject to American 
noncommittal both in Jannanr, whai regulations prohibiting tbe transfer 1 
be saw Mr. Reaga n in Los Angeles, of technology to third countries, 
and in May, at the economic summit The Reapm adm i n k tratf pq fore gy. ~ 


project reflects a fear 
of the commcncal implications of an 
ever increasing technology gap bc- 
tween.Europe and the : 

which: the_SDj can only exacerbate. 


(, this basOTcpfnpto almost 
om « three) win getcarioer. “ 
be spared having to &ctithe 
whatit means ugeuacacQ^rir 
with KMneone who has it 7 
- r-HiNORE 

f :. 

.1 ... 

i. . . .V. 1 ?) 4 tVv .‘t 

l l tl *i $ 

io. >. , 5 v t - Sume .. . **% 
Zu " uU *-‘ ,h= Srr, Uj nitr ^ 


Page 5 


( )ffkialSc^sResel dement Procedure 
For VietnamRefuge^ Takes TooLong 

:r.;ej^ e j „.. . '*.• '■Tcim > 
‘i.’KV-i -h- '• Jan *5<i 

^0fri a ^ 

m'*. .^-k lit 
... — ,h « 

Toks., ? ,nr afctfi 

‘tniir. mIIV 
"■■■*- i-airins 






■ - .U 

• Afrw y«* Time* Soviet 
. BANGKOK, Thailand — A 
Thai official has said that Vietnam- 
ese fleeing their homeland by sea 
aright lose rights to temporary asy- 
lum in Thailand became resenle- 
mentto third countries has been 

t of Thailand's Na- 
tional 'Security Council, said 
Thursday in a speech , to a confer- 
ence^f refugee agencies that Thai- 
land “may be unable to cooperate 
in allowing their illegal entry any 

The conference marks the 10th 
annrversaiy of the arrival in Thai- 

p y^j im g the Communist takeover 
of Sottth .Vietnam. 

Mr. Prasong was particularly 
criocaJaf West European nations 
dial, he said, tended to leave the 
nrfugee bttrden to the poorer coun- 
tries where the boat people first 

He called on Laos to establish an 
orderly emigration program mod- 
eled cn that of Vietnam to reduce 
the flow of illegal emigrants. 

On July 1, the Thai authorities, 

the United' Nations High Commis- 
sioner for Refugees, began screen- 
ing Laotian refugees crossing the 
Mekong River. The Thais am pre- 
paring to turn back those T Annans 
who, m their view, do not qualify as 
refugees. Laotians are now the larg- 
est refugee group in Thailand. 

Mr. Prasong said that T hailan d 
was beginning a similar screening 
process” For Vietnamese. He said 
discussions with UN refugee offi- 
cials would determine where the 
rejected Vietnamese would be sent. 

Despite the monsoon season and 
pirate attacks, Vietnamese contin- 
ue to arrive in Thailand by boat at a 
rate of 300 a'month. 

Thailand has held that emigra- 
tion from the Indochinese coun- 
tries has been more for economic 
rather than political reasons. There 
has also been an influx cf young 
men fleeing mili tary conscription 
in their Homela nds 
In. the decade since North Viet- 
nam overran the South and Com- 
munists took power in Cambodia 

Manila Defense Chief Asks Assembly 
To Abrogate Accord on U.S. Bases 

. * v.**v 

Thft Nmrn York Tmi 

After landing in Thailand, Vietnamese refugees first fin but forms, and then they wait 

and Laos, 637,000 Indochinese ref- 
ugees have came to Thailand. More 
than half a million have been reset- 
tled abroad, mostly in the United 

■The pace of resettlement has 
slowed now, at a time when the 
numbers of refugees seem to rising 

Mr. Prasong said that in the first 
.six months of this year, 11,781 ar- 

rived, compared with 8,952 in the 
same period last year. 

In the same six months, 16.064 
people were resettled abroad, he 
added, compared with 21,038 last 

More Vietnamese are heading 
toward Malaysia and Indonesia, 
international relief agency officials 
say. The reason, they explain, is 
that the refugees have heard that 

resettlement proceeds more rapidly 
from those countries. 

Vietnam's controlled emigration 
program, administered by UN offi- 
cials working with U.S. and other 
Western officials, has continued to 
operate successfully, officials say. 

There is, however, concern that 
the program is being used to expel 
ethnic Chinese from the area of Ho 
Chi Mini Gty, formerly Saigon. 

United Prat InitmutiMdl 

MANILA — Defense Minister 
Juan Ponce Eorife, respondin' to 
the vote in the U.S. House of Rep- 
resentatives to cut military aid to 
the Philippines, filed a resolution 
Friday in the National Assembly 
calling for the abrogation and rtnc- 
gotiauon of the agreement on U.S. 

A statement released by Mr. En- 
rile’s office said be introduced the 
motion as a member of parliamenL 
The resolution was signed by 13 
other legislators in the ruling party. 

President Ferdinand E. Marcos 
called Thursday for the creation of 
a parliamentary committee to 
study responses to the move to cut 
military aid to his government. 

He said his government had been 
the target of a "big lie campaign" 
that apparently bad influenced 
American perceptions of the Phil- 
ippines in Congress and “encour- 
aged ideas of intervention in our 

The United States maintains sev- 
eral bases in the Philippines, the 
largest of which are Clark Air Base, 
home of the 13th Air Force, and the 
Subic Bay Naval Base near Manila, 
which is the logistics and repair 
facility of the U.S. 7th Fleet. 

The U.S. House of Representa- 
tives voted last week to cut the 

Juan Ponce Emile 

Reagan administration's request 
for $100 million in military aid to 
the Philippines in 19S6 to S25 mil- 
lion, while increasing economic aid 
from $95 million to 5155 million. 
The U.S. Senate, however, has en- 
dorsed the administration's re- 

The aid is provided for in a five- 
year agreement that expires in 
1989. It calls for S475 million in 
economic aid and 5425 million in 
military assistance in exchange for 
Washington's use of bases in the 

---i s®-. Indonesia Hoping Social Gains in East Timor Will Still Guerrillas 9 Guns 

-’i . — -•■ning Hdv 

£ i,V* "V-- •JwBimgnJ 
r ^ : -‘ 0 "' *•*»**& 

■■ bad smiph] 

Tw~’T ' -PF r, 'fci6ii 

i wag 3 to* 

I* ;• : 1;ur : ,c 


■ . It >1 .l 


"he _ 
k«T- -r,v 

■ i- >• .v-mimiis-t 

--' l ' r, hrW 

■‘••"l-- 1 '.uuG Z 

.. , -: ; 7r . J ‘v n:r - '■uutsz 

.eta. -.rr-. u : i.-ru 

-;i i: iM, 




s LYt.rv 
- r ji r. 

i- t ttcyXBJ; 
• • r; *=iTj «. 

*i] that 
1 ■ . ' Jcuir 
w s. ai 

C i •:.% ;T.:. •. . jpf 

at ’•..aeaqmis"' , 

-s^. L-iis: •** 

Ft.iHr'r-. - .-Ifea: 

.‘iV . ;... .‘•^tashnE 

• :* ■ '-':0a*. (i: 
1 '.'*: 

By Barbara Crosscttc 

New York Times Service 

Dili, Indonesia — AtibeCeme- 
tay of the Heroes in a quiet comer 
of this former capital of Portuguese 
Timor, new rows of ample white 
headstones on the graves of fallen 
Indonesians offer sQent evidence 
that a decade of guerrilla war is not 
yet over. 

For most Timorese now under 
Indonesian rale, life has begun to 
improve materially, the country- 
side of tins island in the eastern 
Indonesian archipelago has been 
largely peaceful and the number of 
political detainees has dropped 

It is 10 years since Portugal 
abandoned its impoverished terri- 
tory to dial conflict. The subse- 
quent sodden and, by most ac- 
counts, brutal invasion by 
Indonesia brought world attention 
y to East Timor and provoked inter- 
national condemnation of Jakarta. 

Today people are still meeting 
violent death in East Timor’s bar- 
ren hills. They are victims of a con- 
flict that eves the guerrillas' sup- 
porters say they cannot win, but 

One that the Indonesian Army has 
not yet been able to end. 

At least 100 and possibly as 
many as 200 soldiers and dvilians 
have died this year, according to 
information pieced together from 
government, chnrch «nd indepen- 
dent Timorese accounts by four 
Western journalists who spent five 
days traveling around East Timor 
in July. 

These accounts suggest, howev- 
er, that the pattern of violence may 
have changed over the last year. 
Pitched b allies are reported to be 
less frequent. Guerrilla ambushes 
of troops and nighttime attacks on 
lightly defended villages, often to 
steal food and animal^ appear to 
account for many of the casualties. 

The guerrilla war is being waged 
by the Revolutionary Front for an 

Independent East Timor, known 
by its acronym in Portuguese as 

According to most reports, the 
front is loosely organized. It is 
thought to have between 500 and 

1.000 guerrillas supported by about 

2.000 tamSy members in the hills in 
the central and eastern part of the 
province. 1 

Accounts of recent events also 
reveal that ethnic, religious and 
economic factors are at work in 
East Timor, creating a more com- 
plicated situation than just a con- 
frontation between Jakarta and po- 
litical separatists. 

East Timor, now Indonesia’s 
27th province, is a Christian out- 

K in a constitutionally secular 
tverwbelnimgly Moslem coun- 
try. As mosques begin to dot the 
landscape to serve the troops and 
dvfl administrators sent here from 
other inlands, membership in Ti- 
mor's Roman Catholic churches, a 
legacy of the Portuguese, grows. 

At the same time, the church has 
lost the influence it had when Por- 
tugal left much of the administra- 
tion of its territory in ecclesiastical 
hands. Public services are now run 
from Indonesian government of- 

Some priests who are outspoken 
critics of Jakarta often portray 
themselves as defenders of both the 
faith and Timorese culture. Rela- 
tives of guerrillas say the insurgen- 
cy also gets a certain amount of 
support beyond family loyalty just 
because it symbolizes Timor. 

Jakarta, recognizing these con- 
cerns, has been sen ding administra- 
tors from other Christian minority 
groups around the conn try to East 

But Timorese and foreign priests 
say that among the Indonesian es- 
tablishment in the province there 
are also fundamentalist Moslems 
who are actively seeking converts. 

“These are poor people," a priest 


tea *•.- .■•■■■■ -■ s-'jsr£ 

IK*: •* ". '• •• *r« 
c-r- r :--n 

Ittr- -r- . ---=3 



.c n- : 

7^-.. • 

■ ' -'/tV 

jr. !*_*; - f. 

. _ ** f- 


nr.ed ' ‘ y_ 

■■ .■ fr.-- 

pr - v 

■,sh «* ■ ' ■ . “ 

t.b •- • :\rr 

\*r"i : r;*. 

rifi-il ...n; 


.drdni:.! - ■ ■ 


500 SL Bkxk/Ton, 


W. Gwncny W MI-509735, 9 on - Xi 
am or write to* Autchcra Lenram, Bo- 
darong 2. 05100 Aodm 


CoS or write far free catalog, 
fan 1*011 

BoHowfam Ahpwt Halid 


Tdcj«2®7t B’CAB NL ' 

230 B, Now LoadaflL CM 49, 

*50 D, Now, Load*! DM 
380 SB. Hew, law, DM77,000 
Panda, CnwHlww 
Now, LaaMd, DM ImiOO 
Joj u ar 41 Srnmm, 
Umdmd, DM 59^0cT 
Fa. A.VX T«L Oaneaay 1014034 
4092 or 3994, The 4649S& 


*crc ;.u t 

nivit "* 




3.-.1 :• • 

i;. K : • ' 

h. *■' 
•••• - 
He - •' ' 

jn-i . 

j‘ ■ - 

..t ft. 1 


Often k» free con al low priao. Al 
_ ltypw; now & used, raitdafiv- 
eiy. FO Bo* .205], ' 


: now & used. 

cn BsajA/ 

Holond. Td (Q) 7655) 550^ 74282. 

; V :& 


1 raring driver advises «n Buy your 
BMW, now or used, Al OncsL drive it, 
ieaw d {Munich / ftankfail dip £ 
lehnam* Tradm - ShrnmgWjnich. 
TA pfBimm, tbc H13W3 IBtM. 

usme NEW CAK. Bed ctwMB. Safer 
& shiadng worldwide, Mercedes, 
»4w73oguar, Porsdvj, PeugoM. efc 
Qyop«d»i Itw werid Send u far fat 
& fxatogB to frank Jkeusm. P.O. Sm 
4, Deere 5. Deuren 2100. Belgmrn. 
Tk 32798 FRANC & 


(Continued From Back Page) 


Now/usad. ImoiedKee defaery. Ft) AVI 
TetGerrucnyp) 6234-1092, tfc 464986 

ICW FHIGKjr, Land Row, foot 
Raver, Toyota, 4x4. tropiaj spea. 

Brito, ZanMOaan IB, Mcmum- 
brefc. Hofand CT3&445492. hi 47062 

Mbaan 32241 ZdeneL Artwerp. Tek 
0M84.lQ.54 Tbt 32302 Trcnm B. fa 

MEW S00 SB. lealher, 
9MBCL2S0StA/r ' 

W )0) S203 7 1. 

law DM 

1981 NOVEMBBl BJAW. 728 I 
41000, km. perfad canttarc sun 
roar air aancMiatied. stereo. SIlOOO. 
Td ivtticrkni (E1/64 46 21. 

TAX Free can. di mofan Ik modek. 
ATK, NVAntonu 22, 2000 Antwerp, 
Belgium. Yel 03/231)6 53 Tx 3105 


US IMMIOBATION mas, Altyi. SpiSos 
& faW. J925 fricfal Av. Miani R 
33129. leL {30^6439600, fa 441469. 
Santo Domfagiv Dtnmxi MSc 


OW WAY horn Amsterdam in USS: 
Hong Kong 375, Mtxda 275, Jdarta 
375, Sydney 540, Toronto 2M, La 
Anodes 330, Koundthe-Worid from 
1 ,(W3 l MoSsu Titwel, porwok 30. Am- 
stentom/Holand. fet 020-274041. 
The 14635, dtodwtto inbound 1-woy. 

NT ONE WAY $150. Ewydav N.Y. - 
Wert Coast SI 45. Ptorifa 2B 92 90. 


dan. China trade prchms, early ba- 
nned vnaerooion & wy Engfish 
Wttnrcolorx. 34 Bury Street, St 
Jones's, SW1 (01^839 3731 

IHWKE OAUBtY - 30 Brcto) St. 
London Wt - 01-493 2107. Important 
XK A WCrtiny worts of art. 2fth 
Jum - 7M\ Jdy, Mondays - Fridayi 
)Qaro-5pmSatutclay10om- 12J0pm 

Cartoons. langkmGtAary, 3 Lteotan 
Sheet WarUsEnd, tmkm 5W10. 
TekOl -352 9150 


Cruise in Begtmce 


CHOKE OF 7-444-1 DAY - 
CaWS B wt ef Athens [Phnom] 



EPnoma- cruises 





----- .4757*06 

Athene 4526641 A 9 

New Vo* (2121 5991750 

lae Angeles (213) 8551736 




the Greek hkatdA Turkey, 
Egypt & Israel. 

I Every Monday tram Piraeus 






To the Greek Woods & Turkey. Saing 
every Monday & Friday from Piraeus 

Fl«w oftob to^ow^lro^ Afl« ret 

2. Kar. Servios St, Athens 10562 
Trie* 215621, Phone 3228883. 

Pam >»t M5 80 36 
Munich let 3SS 613 
Geneva tab 327 110 
Zuridi fab 391 36 SS 

Greet AegecpSeg, need 2 more Aug- 
11 - SepLTTSTSn Pone g2 69 -40/ 

HEUA5 YACHTING. Yacht Charters. 
A ixiriu ii m 28, Athens IWlfttete 


doutta from F170 l Tefc (93) 75 67 19 


gob oHar (andy & ndhridud aoun ' 
Tel London 01-348 3616. 





4 Are. ds fwtsiCT, 0+1202 Geneva 
. Teb 0041 22/31 1479 

Baauhfd, first dote, dr- 

readetdd fanwhed_ opaloMs 
Oirtot. hriy equipped fatchea. 
daily maid service. 

Wee kly and monthly rates. 
EweSent location. 


TUDOX HOIH, 304 Bast 42nd 9,. 
New York Gty. fa ladKinabie, Bast 
Sde Monhreton. 1/2 Hack from UN. 
Single from S70». doubles from $85. 
User* showing this ad- 20* deawnt. 
16422951. Teb 212-986-8800. 


ing impartant tens, antiques, etc. Tel 
London 01 /i02 8889. 


offers a vwfa seledian of British / 
American books |dto chidren's], BnS- 
Mi tourist puhScmanL Mail order ser- 
viceGenuw Tel 0fflL280492. 
Boersenstr 17. 6000 Frankfun/Ml 


50OKL 45 Sou* Aedfay Street, Lore 
don W1 . Tab 01-493 MD near Amen- 
«5» Emhaay. Etduuve dddrens 
were. Hand mode in England, 1-16 
ream + flytes from Prance & 

kiy. Bring tna advert with you & we 
wrigive Q off any purdsare amr £28 


GUUS AWb OUTS al cnrtwwn warn 
pen pah. Deldk free Hermes Vertaa 
Bck 110660/ M, D-1000 Berta IT, 
West Gemany. 






• office in New York 

330 W. 56th ft, N.Y.C 10019 USA 




„ / _ CHECKS ACCfflH) 

Jr. fnvto. M-rfrershfae AreaUda 

Jhk awred-wfank nu service has 
MM ta ri u i te] as the fan 1 mod 

B» , Ys:sa s ssradk, 

fadedfag mdie and TV. 

TVPn-«5«- , *' N > 





r y>0 Iran Ui 1WM2 
5 . «* frrefrom Hondo: 1-800-2824B92. 
-.i •• Low * Easieni wdcaraes you badd 

r >:*, 





TO: 212-737 3291. 




a . .TO: 9379136 08 9379133 
a P*4°r oidt qeds e ta y h A 


-v. .45614740*2. 

X- J.' fiWWA . AMA 8COCT SamCE 

•„ .<f' 1 JkdfrtpMl Teb 342955. 

.{ Service Tel(n.5S52117 




Tel: 736 5877. 


Perlman Escort Agency 

67 ChflUm Street 
leaden W1 

Tek 486 3724 or 486 USB 
Al mafar a«B cords accepted 




TEL:. 724 2972 


ESCorr sawcE 
TBj 2456548. C8HJIT CABDS 


tendon bear! Service 
128 Wignsre St. London W.l. 
AH major Gwfr Ccrds Accepted 
Teb 437 47 41 /.4742 
12 noon ■ midnight 


TBj 01/363 08 64 

MINCH WHCOME Escrrt Service. 
TeL 91 94 59 

NEW Y08X BEGANQ Escort Ser- 



TH; 020366655 


THi OT-47 SS 82 / 69 55 04 



01-225 0868 12 noon-12 nftMgbt 


fall Trow! + Weekend Sena 


BAYSWAia escort sanna 

TB-- 01-229 0776 

& Guide ServaJek 06/5892601 589 
1146 {From 4 pm to 10 pm} 


SKVKE T* 46 09 28 

& Guide SrivoJufe 06/589 2604- 589 
1146 ffran 4 pro to 10 pm) 


ESCORT SBMCE. 022/29 51 to 


51 Beaucherop Place, Lorrion SW3. 
T«t 01 584 6513/7749 (4-12 pa) 

LOMXJN 01-402 3833 


SBMCE. LONDON 01-821 0283 

NEW YORK: RTCFf bon Senw. 
Tri 213581-1948. 

*^+*+*G04EVA BEST 


ESCORT A GUDES. 020-227837 




ESCORT SERVICE. 020-953892 


CareEnev Esoorl + Trcwd Service. 

& German 

male and raoie Mnoupl fecan and 
Travel W TefcC&42 88 05. 
Gedt cards 


+ area. Pasa't femrt & Irorel ic 

. — Alcred t cords. 021] 


Exdimwe Exon + Tiavri Service. 
Teb 0211-6799861 

rtomie, nmauam. Loitege Escort 
SarvxB. AiMtardrea BX81 m- 261 JSJ 

«*• a^e.pnd «»« I service. Tek 


nee Escort Service. 212-751-4535.. 
Carte Bkoche & Oman. ■' 

VBWA OEOMRA Ew>t Service. 
Teb 52 Z3 88 or 47 70 35. 

MADRD IMPACT escort and guide 
MtBfcgjal 261 4142 


Contact-. 83 33 71 

cort Service. 069/36*656 Visa & DC 

Trt 01-373 8M9. 

■Heafaw/Gmck Tub 6347945 

lpm-11 pm. Tab PH 589 <900. 


wae Teb 4011507. CnsN Cork 


0222/9205 612 

travel Mryiee. Tet 328 8459, 


once Escort Service. Tali 381 6852 

London (OH 961 0154. 

VK». Tofc B086194. 

089/33 50 20 or 069/35 94 212. 

don 01-724 1859 

el verviee. Tek 069/44 77 75 

SMGAKME htentofanai Guide Ser- 
vice. Tek Singapore 734 9628. 

01/69 58 71 

vies. Ti 069-68 34 42. 

BANHtfff BMY BCORT &fc<wl 

service. let 069/55-72-10. 

IViemal 65 41 58 


Engfch Escort Serdce 



in a rural area said of his flock. 
“Some go over to Islam for a bag of 

East Timor has about half a mil- 
lion people and is normally closed 
to outsiders except aid officials, 
diplomats and occasional foreign 
political delegations. A visit to tne 
province indicates that steady pro- 
gress has been made in health, edu- 
cation and agriculture. 

Indonesian figures show that the 
central government is spending 
more in East Timor, at least S 100 a 
year per capita, than in any other 
province outside Jakarta. Accord- 
ing to the provincial government, 
literacy has risen from 8 percent to 
60 percent. In 1976 there were 47 
primary schools, there are ndw 427. 

Every village is said to have a 
paramedic. Mi has a medical cen- 
ter that Jarkarta residents say is 
better equipped than most in the 

The battle for East Timor, Indo- 
nesian civil servants overseeing the 
province's development say. will 
ultimately have to be won in the 
schools, hospitals and riceficlds, 
not in the hfus. 

Governor Mario Viegas Carras- 
calao, the province’s dvfl adminis- 

trator since 1982. said Fretilin 
guerrillas remained under arms 
“because they don’t believe what 
we are doing for (he people.** 
Indonesian troops who took East 
Timor 10 years ago were often bru- 
tal and repressive, Indonesian offi- 
cials now acknowledge- Soldiers 
bore much of the responsibility for 
the deaths of thousands of people 
in military action or from the ef- 
fects of forced marches and reset- 

tlement away from farm villages in 
guerrilla areas. 

Indonesia, which had sovereign- 
ty since J945 over the western half 
of Timor Island, invaded East Ti- 
mor in December 1975. after a dec- 
laration of independence by Freti- 
lin the previous month. 

The action followed several 
months of civil war. 

The territory was formally an- 
nexed in July 1976. 

The House vote was intended to 
pressure the Marco-i government 
into coming out economic, mili- 
tary and political changes. 

the Enrile resolution said: 
"Such actions are a clear deroga- 
tion of the decision-making prerog- 
atives of the Filipino people in 
shaping their military and econom- 
ic plans and could in fact be con- 
strued as an act of intervention in 
the internal affairs of the Republic 
of the Philippines." 

The resolution calls for the abro- 
gation and renegotiation of the 
bases agreement "in order to reflect 
clearly ihc actual and real inten- 
tions of and understandings" 
reached between Mantis and 

It said the Marco* government 
has "faithfully complied with its 
obligations” but suggested Wash- 
ington had not. 

Mr. Emile’s resolution will "be 
debated when the assemblv re- 
sumes session on Monday. 

Former Senator Jose DioLno. a 
nationalist opposition leader, said 
he believed that the Philippine ac- 
tions amounted to ‘Younterpropa- 
ganda” aaoinsi the motes in the 
U.S. Houi. 

Philippine got eminent lejders 
“seem to be doing the right* things 
for the wrong reasons.” Mr. 
Diokuo said. "I think they could 
get some political mileage out of 

But be added that the L’.S. bases 
were “a threat to our survival and a 
diminution of our sovereignty.'* 

May 23 of a U.S. government 
building in Seoul, according, to Yu 

56 Students Arrested in South Korea 
In Apparent Crackdown on Activism 

New York Tima Service 

TOKYO — The South Korean 
government has arrested 56 stu- 
dents and is seeking more than 20 
others for what it termed anti-gov- 
ernment activities that aid North 
Korea, reports reaching here said. 

Foreign diplomats in Seoul said 
Thursday that the arrests repre- 
sented a crackdown on student ac- 
tivism and a retreat from a recent 
policy of allowing more open stu- 
dent dissent. 

AO of the students arrested were 
members of a student organization 
that planned the occupation on 

Tae Wan. a spokesman Tor the 
Smith Korean government. 

He said some of the students in 
jail cm Monday had been released 
after the occupation ended and 
then were rearrested. 

The student occupation embar- 
rassed the government of President 
Chun Doo Hwan and appears to 
have prompted a wide-ranging in- 
vestigation into student activism. 

The arrests were made over the 
last month, Mr. Yu said. 



32, Avenue Maxceau 



Ball £38!k Hotel 

We are part of the leading hotel 
chain in Spain with over 90 ho- 
tels and 30 years of experience. 
Our professional and charming 
staff, assuring the exclusive Bali- 
nese art of hospitality — the 
most impressive landscaping 
and facilities, such as one of the 
largest swimming pools in South 
East Asia — our guest activities, 
sports as well as many other 
services just fit for you, qualify 
us to make such a statement 
without any hesitation. 

500 deluxe rooms and suites all 
with private terrace, 5 restau- 
rants, 2 bars and a discotheque, 
guest activities and sports, a 
spectacular swimming pool, 
3 tennis courts, 2 airconditioned 
squash courts, a health centre, 
Balinese open air theatre and 
full seminar and convention 
facilities including 7 meeting 
rooms, located in 10% hectares 
of grounds direct to the beach. 

Reservations and information : 

# TJtell International (worldwide) 

• Bali Sol Hotel - Nusa Dtia - Denpasar - Bah* - Indonesia 
P.O. Box 1048 Tuban 

Telephone : (0361) 71510 Telex : 35237 

Operated by Hoteles Sol 



Pioneering Christie’s Press Officer Altered Market 

International Herald Tribune 

L ONDON — Last week, a man 
* who Dlaved a kev rale in the 

JL* who played a key role in the 
recent history of Christie’s and the 
art market at laqge stepped down 
quietly after delivering a speech 
worthy of an Evelyn Waugh char* 
acter. The speech — deliberately 

Sotheby’s to Recall Judcdca From Buyers 

New York Tunes Service 

N EW YORK — Sotheby’s has agreed to recall 
from buyers a collection of rare Hebrew 


rambling in the FngHxh upper-class 
manner, feigning amateurishness, 
sometimes allusive and irresistibly 
funny to insiders — included two 
basic facts: John Herbert, bead of 
Christie's press office and a board 
member, was retiring after 26 
years; and daring that time the 
house’s annual sales went from £2.3 

IN from buyers a collection of rare Hebrew 
books and manuscripts and distribute them to 
institutions where they would be available to 
scholars and viewing by the public. 

The tentative agreement, approved by Judge 
Robert E White of Slate Supreme Court in Man- 
hattan, was part of a settlement with tlx New York 
state attorney general, Robert Abrams. The auc- 
tion bouse waives all profit from the sale. 

Abrams had sued Sotheby’s for auctioning 
56 rare Hebrew books and manuscripts in June 
1984, ch a rgin g that the auction house knew that 
Alexander Guttmann, who smuggled the books 
out of Nazi Germany 45 years ago, did not own the 

books and therefore had no right to sell them. 

The two most valuable items Guttmann sold, in 
a private sale through Sotheby’s, are a 15tb-cemu- 
ry Bible and a 14th-century machzor, or prayer 
bode They will go to Yeshiva University in New 
York and the Jewish National University Library 
in Jerusalem, respectively. An anonymous donor 
offered the institutions 5900,000 to buy the bodes. 

In addition, Guttmann, an emeritus professor at 
a rabbinical seminary in Cincinnati, will receive 
$900,000 from Sotheby's — - about half the sum 
raised by the auction aid the private sale. Gutt- 
mann has said he smuggled the bodes “at great 
personal risk” from the library of a rabbinical 
seminary in Berlin that was threatened by the 
Nazis, who destroyed the seminary in 1941 

million (including unsold items) to 1 

£350 milKnn shaky attributions. He was one of 

What Herbert did not say was have existed. A pure product of the Getting one step closer to the difficult an of sounding factual those who devised now-standard 

that this fantastic expansion owes a English upper class, educated at Waugh image of the aristocrat while omitting same unpleasant formulas soda as “this work by so 

aood deal to the nress office of Winchester and at New CoQeee. turned journalist. Hubert joined facts. In his useful list of ‘Tmnor- and so is expected to fetch X 

in her famous dash down the Yang- 
tse," Tlx medal sdd for £5,000 in 
1983, he noted. 

Unflagging loyalty to colleagues 
makes any unkind v/ord for his 
company unlikely in tlx book on 
“The Auction Revolution” that 
Herbert plans to write, though he 
reportedly tried very hard to stop 
the issuing of the 1981 press release 
in New York that said three paint- 
ings had ben sold out of eight 
consigned by Dimitry Jodidio's 
Lausanne art dealership, Cristal- 
tina, when only one had actually 
found a buyer. 

Yet, along with Wilson at Soth- 
eby’s, Herbal was me of the in- 
ventors of the peculiar kind of in- 
formation that comes out of 
auction houses — positive, incom- 
plete, oblivious to damage and 

deal to the press office of Winchester and at New College, turned journalist, Herbert joined facts. In his useful list 

- . o_.i n_« r\-C„ i u^i I J 'c._j n_. o_ a _ r. p.v 

of “Impor- 

and so is 

s,just as Sotheby’s parallel Oxford, Herbert could have drifted Patrick Dolan & Associates, a firm taut Sales at Christie’s," which has amount,” which, in effect, means: 

development can by linked to its into the civil service. Instead he of public relations consultants, and the innocent aj 
press office. One of the most sink- went in to journalism, spending two for six months became a govern- fact sheet, one 
ing changes in the auction market years with the Glasgow Herald as a meat spokesman — for Western “1981. Pousai 

of a terse “we want this work by so and so to 
items as: fetch X amount.” Picked up by 

1 1! 

m « 

1981. Poussin’s ‘The Holy Faro- news agencies, such statements 

over the last quarter of a century sub-editor — an experience he Nigeria, which had recently at- Dy\ Bought by Wlldenstdn’s and have become a major factor in the 
has been its transforma cion from a called “tough but invaluable.” His tained self-government. sold subsequently to the Norton art market that did noteristaquar- 

semi-oonfidential affair, essentially next job was with the Daily Mail, 

confined to a handful of profes- and he 
si annlx , into a huge public snow. site eu 
Without John Herbert, auction- wor k in 
house press offices might never from 1 

i dally next job was with the Daily Mail, Herbert’s task (friends say he Simon Foundation, Los Angeles, ter of a century ago. Propaganda, 

rofes- and he then traveled to the oppo- succeeded) was to build up a pro- and the J. Paul Getty Museum, here, is still a recent invention. 

iow. site end of the political spectrum, sen table image to the Western me- Malibu, jointly. Part of the Chats- 

ction- working at the Daily Telegraph dia, pushing into the background worth House Trust, £1,650X100.” 

never from 1951 to 1957. suggestions of corruption and nep- That the painting failed to reach its pvjw rt» j p 

otism and stressing the British hen- reserve and had to be negotiated B mtigj .Slfl’rlf dV§ 

tage of dedicated dvfl service: later is left aside. kJBcZM Bv I/I 

_ . ■! His next job seemed child's play Understatement and terseness ^ * 

l Bacnauer I in comparison: The PR firm de- wax accompanied by a wry sense By David Galloway 

„ , , . . I tailed Herbert to Christie’s to ad- of humor that would have been O TUTTGART — When the ear- 

Seventh Gina Bachauer 
International Piano Scholarship 
Competition at JuiUJARD 

and the J. Paul Getty Museum, 
Malibu, jointly. Part of the Chals- 
worth House Trust, £ 1 , 650 , 000 ” 
That the painting failed to reach its 
reserve and had to be negotiated 
later is left aside. 

Understatement and terseness 
were accompanied by a wry sense 
of humor that would have been 

The look of music: From left, a Chagall fiddler (detaiL 1923-4), a Picasso violin (1912-13) 
and Joseph Beuys's ceDo wrapped in a blanket with red cross (1979); show has 550 works. 

The Sight of Sound: 20thrCentury Artists on Music 

Bv David Galloway something between hearing and gal eric seeks to correct the over- casso’s designs (and Din ghi levs - 

j I T - _ I.. _ r Whtk non .wkiUihM mTIaJ 1 W Pt'lb lA*I U Pn. ** 

• The 1985 Winners 

PRIZES: Awards of $ 6 , 000 each to Yuri Funahashi of Wisconsin. Andreas 
HatfUger of Germany, Fa-Ping Hsu cf China. SUke-Thora Matthies of 
German y . Sayan Park of Michigan, and Darning Zhu of China. 
SPECIAL PRE-COLLEGE PRIZE: Jtoard of S2J00 to Jung- Won Jin of 

• The 1986 Competition 

The eighth annual competition *Ui sake place May 22 and 23. 1986. For 
bfbrmaiian write: lads Jean Brunedi, Associate Dean. The JuUHard School. 
Lincoln Center. New J&r*. NY 10023. 





New York Pam Chicago Mm Beach Beverly HD 


represented exclusively 

Philippe AUGE 
Francois GALL 
Bernard GANTNER 

Constantin KLUGE 
Gaston SEBIRE 


Hotel Ge 

Avenue Mafignon, Paris 8th - 225.70.74 
[oiL-FrL, 10 ajn.-l pm - 2:30 pm-7 pm 
ge-V, 31, Avenue George-V, Paris 8th - 72354.00 
1. 10:30 am-1 pm.; 2:304 pm; Soil, 7-9 pm 


77, me dm Varerme, Paris (7*) - Metro Varenne 

Rodill/ five- Contemporary photographers 
Tm HUBS, Rhshi Ittlf, tarn JNKT, BnUta 1HDH, Up TttJSO. 

Daily (except TucMday) TO am. - T1 -J30 am end 2 pjm. - 5i45 pan. 




, 6, Rus Joan-Mermoz, 75008 PARIS. Tel.: 359.82.44 , 

Morcr, ns , pkasso, folon, 
hondwoven TAPESTRIES 

Orignd prestigious hand-knotted 


■ 28 Rue Bonqparfe, Paris 6tfi 
TeL 329 30 60 


reasons \ 
L to visit j 



77, roe de Vcrame (7* | 
Mbtro Varerme 


Sculpture* exhibited 
in the museum gardens 
Daily, except Thuesday, 
from 10 a.m. to 5.45 p.m. 
= Jun» 26-Septambar Mss 

11 a.m. to 7 p.m. 

75001 PAR IS -TEL (1) 287 27 00 

Present Exhibition 


June - September 1965 




Baumleingasse 9, Basel 

Tel: 061/23 54 12 

Opening hours: Tues., Fri. 9-12. 14-18 & Sat. 9-13. 


— New Art Centre — 

41 Sloane Sl, London S.W.I. 

20th Century Master 

Inns of Court 
by Feliks Topolski 

A new senes of legal screenpnnla in 
signed, finnfpri pifitmns— FIB each 18b 

framed now on stow. 

Also ob stow. Modem Master Prints by 
Moore, Uro, Picasso. Hodcnej t* al 

§ Christie’s 

Contemporary Art 
8 Dover Street 
London ttl 499 8701 
ItaL-Fri. 1:30-5:34; SH 114 


6 Albemarle St., Wl. 01-429 5161 

29 May -31 July, 1985. 
Mon. -Fri. 10430. Salt. 10-1 Z30 


on Saturday 

tailed Herbert to Uinstie s to ad- of humor that would have been O TUTTGART — When the ear- proaucc f mjsmc 

vise on dealing with the news me- devastating had it not been con- ly Modernists stormed the bar- co * or ? ^ produced^ itwtp 
dia. He set up the first press office stantiy kepi under control by Her- ricades of 19th-century aesthetics, sounds - That . . was shared . by 
in auction-house history, and a ben’s Foreign Office manner. In a they were not merely determined to unmet Kupka s contemporaries, 
vear later, in 1 959. ioined Christie’s mwH inrinHins fm» ik>> minM ranuflc from iic nid the direct influence ol Bach s 

year later, in 195 9, joined Christie's recent press office release including free the painted canvas from its and the direct inf luence ol Bactis more tnan a decade ago. Its reahza- 
as press officer and a director. adesaStionaf adideaf “Merany mimetic chores. Above all they polyphonies was registered almost non depended on an unusual ajn- 

Christie’c an-h rival Sotheby’s. simultaneously in Mumch and vereence of arcumsiances. First 

The show was first discussed' Rauschenberg collaborations, 
more than a decade ago. Its realize- Rauschenberg's work is not mo- 
tion depended on an unusual con- sented in Stuttgart, but Cage's am- 

Christie’s archrival, Sotheby’s, the pigeon with a V.C,” or Victoria sought to transcend the physical simultaneously in Munich 
led by Peter Wilson, was blasting Cross, a paragraph explains that plane by producing works as- au- Moscow, Pans and New York, 
its way tiuough the media. Herbert Christie’s sells everything from tonomous as music. Wassily Kan- Georges Braque’s first colb 
was assigned to orchestrate a low- works by Leonardo, Vd&sqncz and dins ky pointed the way with a se- paintings and Pablo Picasso's e 
key publicity campaign. Sotheby’s Rembrandt to quite minor items, ries ot lyric “Improvisations” assemblages were also indebted 
. Goldschmidt sale of seven Impres- “This ‘ Animal V.C’ has only been begun in 191 1, while other painters that spinL They suggest the o 
rionist paintings in 1958 had been a awarded 53 times — the recipients were at work on their own a p- plex symbiosis between the vL 
land m ark in auction history, not include 31 pigeons 18 dogs 3 hors- proacbes to the problem. and musical arts in the 20lh cei 

only in terms of marketing but in ^ and the fast award made posthu- “I fumble in 

attracting the media. 

mimetic Sores. Above alL thev polyphonies was registered almost lion depended on an unusual con- sented in Stuttgart, but Cage’s dre- 

sought to transcend the physied simultaneously in Munich and veigena of circumstances. First idic norations are there as an «aam- 

plaSe by works ^au- Moscow, Pans and New York. cam* to [bravura^ museum exten- pie of the impact of the vinial aru 

tonomous as music. Wassily Kan- Georges Braque’s first collage- am l^r^^ttE^ post-Modm- on ^ ^ 

dinsky pointed the wav with a se- paintinSand Pablo Picasso's early Bt Stirim& mugurated m Arnold Schoenbergs smeared ran- 

ries oflwic “Improvisations” assembSges were also indebted ro Initially deerkd as vases, whidi have httle irroie than 

begun in 1911, while other painters that spmL They suggest the com- ^ colorfully cunaity value, though the com- 

SSTat work on their own ap- plex ^mbiosis beti^n the visual ^ itd[o ‘ 

proacbes to the problem. and musical arts in the 20th cenru- ^he most skqnical hearts, and enced an enure generation- 

dinsky pointed the way wim a se- paintii 
ries of lyric “Improvisations” asseml 

Georges Braque’s first collage- son i by the Sottish .post-Modem 

- . j «_Li. n: ■- I., ist Tnm**s St in in Cf inanminlM ir 

and Pablo Picasso's early 
tes were also indebted to 

ist James Stirling, inanj 
March 1984. Initially < 

mously in 1949 to ‘Simon’ the cal Czech painter Franz Kupka 

’s fed the press pre-sale who was present in HMS Amethyst 
tough personal ootmeo- 

1913. “Yet I believe I can find 

ob E. ^ and rauricalarts in the 20th cenru- the most skeptical hearts,. m.d 
dark,” wrote the ry. It is a theme regularly died by among modern art museums m tu- 
ranz Kupka in art historians but never definitively rope its attendance :figurw are ex- 
ieve I can find explored. Stuttgart’s Neue Staats- ceeded rmly by \hc Pompidou Cen- 

stones through personal oonneo- 

dons, and got enormons publicity 
at the grand finale through the brfl- fiT 1 • 1 • T f t 

V alentmo L irmly m Lap of Luxury 

rise and, through Wilson’s caknlat- * mm. ¥ 

ed gambles, outdistanced Christie’s International Hendd Tribune tnfty I nx^tr y an te s ^ith F f riwrity 

from then on in terms of revenue, p OME — Times have changed that keeps growing each season. 

Christie’s policy was differenL JCV since the days when a Valen- But despite the dazzling mixture of 
Its management kept an eye on tino collection was perceived as a cashmere and furs, embroidery and 
profits as much as on revenue. It social offense and irate feminists, satins, he managed a feeling of ut- 
wanted to project an image of throwing tomatoes at the bejewded ter simplidty by keeping the dean 

ter in Paris. Furthermore, with 
special funding provided by state 
lotteries the Stuttgart museum has 

enced an entire generation. 

The impact of painting on muse 
is plainly difficult to exhibit, but 
the Staatsgalerie bas included such 
novelties as the “Octophoae” de- 
vised by the Russian painter Vladi- 
mir Baranoff-Rossine in 1914. 

not suffered the radical budget cuts Combining color projections with a 
that have crippled many West Ger- piano keyboard, it foreshadowed 

International Hendd Tribune 

lofty luxury notes with an authority 

wanted to project an image of 

soundness and traditionalism that crowd, accused the Rome i 

ter simplicity by keeping the dean 

lines and 

HitmU under 

would kec 
the Britis 

intact its strong ties to of treating women as sex symbols, control. What dominated was the 
aristocratic establish- Today, luxury is in and Valentino is seduction and f emininit y in Vakn- 

ment — a major source of impor- an institution. As he strode down 
tant works of art over the past two the runway Thursday night after 

decades, as illustrated last year by 
the £21 -million Chatsworth sale of 

the £21 -million Chatsworth sale 
Old Master drawings. 

Hebe Dorsey 

lino’s dothes. 

The silhouette was strong-shoul- 
dered, long and lean and perched 
on very high-heeled pumps. Except 
for some long coats, Valentino 

instinct for what news would self tTi . 01 u rV .■ said. Still, t be short, skinny look 


and whom to get in touch with. President & 
After a good sale he would often ^ a 
stress the works of art rather than about 1,500 

President Sandro Pertixu. 

Valentino mdlowcd bis lines with 

the pricey, though he wasjust as tion at the Piaza MignaneQi while 
eager as Sotheby’ press officers to 8,000 watched it from the nearby ITEKSrr 1 
see these prominently publicized. fteaSSi ^7*^1 scSci wl1 * 1 Pereian lamb or silver fox. 
When Velasquez's portrait of Don Hundreds more applauded from . Color exploded, not only in h 

iout 1300 people saw the coHeo ^ 

zippered tops, and threw in some 
w °f“ vohrarinoos knit blousons, edged 

Juan de Partja was sold for £231 snnonnding windov 
mfflion in 1970, establishing a re- gp^ ^ ^ Spanisl 
cord auction price for any work of to Italy, who threw a 
art at the time, the name of Velis- before the collection, 
quez seemed to ring louder than the jhe glittering ere 
figure m Christie’s press office. hard-core Italian hab 

Color exploded, not only in faxH- 

fore the collection. orangft green ^cobalt blue, poppy 

The glittering crowd indnded red or hot pmk on the mside. Color 

« ° _ ° • . - m tA nirafrtl aIhi/I nntr 

figure in Christie’s press office. hard-core Italian habitufcs, wealthy to plaid suits rader 

Last year when the Chatsworth women whose husbands are in pub- Sfnerous coats in larger blanket 
drawings came up, Herbert made fishing (Rnsconi, Balsamo), poli- pl^ds- Black was used M a counter- 
sure that the motif of Raphael, tics, fCraxi, Fanfam) or business 

Rembrandt, Rubens et al, backed (Marzotto.) Soim cuaomera may blacks and reds. Pink scalloped ari- 
by the English aristocratic heir- drop hundreds of thousands of dol- lars and _ cuffs gave a demure, mge- 
loom theme, came first: the notion lais a vear on Valentino’s couture nue reding h) blade velvet cocktail 

loom theme, came first; the notion lars a year on Valentino's couture 
that the Raphael might fetch more dothes. said the designed partner. 

than £1 million was added almost Giancario Giammctn, addm 
as a footnote. Another feat, this snchextiavaganceoraldbe": 
year, was the “last Mantegna” cam- ly embarrassing.” 
paign, which was probably onsur- American fans included the U. S. 

Evening, accented by sunqitnons 
embroidery, was another colorful 
scoie. Embroidery was spread on 
dinner suits, across shoulders, 
down sleeves and around hems. 

passed for its tactful dossing over ambassador. Maxwell M. Rabb, sieeve ? 800 t arom M j nem^ 

of the appalling condition of the and his wife, Roth; the socialites Pawley memves alternated with 
picture, the existence of eight re- Ann Getty and Nan Kempner; the heavy gold embroidery, almost Re- 
cordedversionsof the work and the model Lauren Hutton; and the doo- La ” sU y ® D ' 

fact that this painting reached Brit- orator Peter Marino, wbo is doing bromereo evening ^sweaters woe 
ain only afxxit a century ago and is Valentino's new apartment in New over t^eta skirts, dipping in 
not woven into the web of its artis- York, Milton Stern, who is respon- *e bade. Iik finale, white bah 
tic heritage, unlike, for example, sible for the soccess of Osar de la gowns decorated with crystal bead- 
tbc Claisworth Poussin sold by Renta’s perfume, “Oscar,” was also mg, came as a pleasant coinrasL 
Christie’s in 1982. there; he will soon market Valen- , Details mduded jeweled shoes 

nmn museums. 

For the first year in its new quar- 
ters. the Staatsgalerie presented its 

both sm-ei-lumiere extravaganzas 
and disco decor. Telemann wrote 
of a similar “optical harpsichord” 

own imposing collection. Then the in 1739. and the first working mod- 
fact that 1985 was officially to be d — with 500 lamps and 50 colored 

the “European Year of Music” en- lenses — was premiered a few years 
cooraged Karin von Maur. die cu- later. 

ratiu, to launch a long-cherished 
variation on a musical theme. An 
anniversary celebration of compos- 


Despite the revolutionary brava- 
do of the Expressionists and Futur- 
ists. the impact of music on paint- 

ers in four-part harmony lent the ing can hardly be restricted to this 
final touch, as wefl as ensuring cor- century. Long before Bach was “re- 

porate support: Handel Bach, discovered" 
Heinrich Scnfitz and Alban Berg sohn's Berlin 

thus became her melodic allies. 

: George Segal's “Rock ’n’ Roll 
Combo” greets visitors to the exhi- 
bition. In Stirling's soaring, sloping 
lobby with its add-green flooring, 
the plaster-while presences hold 

discovered” through Mendels- 
sohn's Bertrajperfoonaoceof “The 
Sl Matthew Rassron" in 1829, the 
Romantic painters had begun to 
explore contrapuntal structures. If 
the interrelation ships become more 
verbalized after 1900. they also be- 
come more ubiquitous. The Stutt- 

the stage surprisingly wdL But the gart presentation touches only 

real show begins upstairs with an margin 
ensemble of paintings and scalp- David 
lures inspired by Bach fugues, achievi 

marginally on dance and opera: 
David Hockney’s sumptuous 
achievements, for example, are 

which play softly in the bade- conspicuously absent 

ground. In the enfilade of rooms But the ever-expanding circles of 

that Sterling derived from tradi- mutual influence are a further justh 
tional museum architecture there fication for this elegant reprise. “T 

are thematic presentations of virtu- never wanted to be a painter,” j 
ally all the Modernist schools, from Andy Warhol once remarked. “I f 
Futurism to Abstract Expression- wanted to be a tap dancer.” Under- ■ 1 

' « A 

-i-s: i 

.• A* 

ism. Dada to Fop. standably, Busby Berkeley does not 

The tides of works emphasize the appear in the series of films and 

theme with words like nocturne,” concerts that accompany this eada- 
“overture,” ^symplmny," “impro- hi tion. And the principle of exdn- 

Vf n 




“sonata,” “rondo." “ skm — any e: 
“counterpoint.’' Piet to the underly 
s “Broadway Boogie- thesia that the 

skm — any exclusion — is hostile 
to the underlying concept of synes- 
thesia that the Modernists pursued. 

% ■ ' $ ' 

Woogie” is here, as are Henri Ma- Both Matisse and Constantin 
tisse’s series of “Jazz." collages, Ar- Brancusi regularly wanned up for 

.j.i: j .1 • 

man's dissected violins and Andy the day’s work by playing the t 
Warhol's “Dance-Step Tango." tin. In principle, “Vom Klang i 

The last relates with unintentional Bilder” is an unfinished symphony, 
wit to constructivist attempts to but the melody tingers on. 

Valentino gown: white 
crepe with lice overskirt 

transpose Bach's counterpoint into “Von Klang der Bilder,’’ Mae 
visual geometries. Staatsgalerie. Konrad Adenauer 

Jackson Pollock is represented, if Strasse 30, through Sept. 21 

somewhat indifferendy, by one of 

the drip-paintings composed while David Galloway is a writ 

David Galloway is a writer and 

listening to a jazz recording. The professor based in Wuppertal West 
impact of jazz on the Nerw Yoik Germany. 

Christie’s in 1982. 

Herbert's work as a journalist tino’s perfume. 

Details mduded jeweled shoes 
by CaovQla, berets of aQ kinds — 

School of the 1950s is otherwise 
a red one that seemed under-represented, but the Ameri- 
1 with diamond dnsu can avant-garde of the early 20th 

Laug died ax months ago but century comes into 

and a PR officer helped him in the Once Valentino played fr° m . colored Ptxsian lamb to solid business goes on thanks to his com- sharp focus. In 1912, during 

. Cl ' K J sminm — and Irma sum ulmms nsnlnn th- d — ^ u. 

U. S. Sells Beads 


is toe w-nmiiOT jewel m ine o _ ^ 

of his $L20-miUion business. (Tie designer well-known f or spectacu- Abstraction.' on sale — good news for anyone 

Mm. however, appears w fed that lar styles, attimded the Lmxg show If Paris was the hotbed of such who needs millions of maroscopic 

he needs the protection of the httie but insisted he was there omy as a Modernist innovations, they were latex beads. .... - 



R en ais s a n ce statue _of the Virgin friend and was not responame for also being promoted in the United Many companies can use ti* 
that waecrf ms attendants cames to the attractive evening gowns. Ros- Slates by Arthur Wesley Dow, beads to calibrate instruments that 


each fashion showO _ setti said he had formed a studio of whose gifted pupils included Geor- 

^ Except for Andre Upg, the rest three Parisian designers, including gja O’Keeffe and Max Weber, 
of Rome couture is a bit like local the talented Marc Audibet, who Meanwhile, Alfred Stieglitz had. 
wine: It does not travel. The Bar- designs the Grts ready-to-wear col- purchased the only Kaudmsky ex- 
ocracollo^vmacarempoml, lection in Paris. hibited at the- New York Armory 

Sales of 

Important Jewels 
Friday 15th < 
November in Geneva: 
Thursday 5th 
December in Dubai 

pupils included Geor- make or measure -fine 
e and Max Weber, particles. The National 

loaded with aQ kinds of baroque 

details, inc lu d ing Jet fringes on ti« arm soorc It is rumored that the revolutionary study “Concerning 
gray flannel suits. Balestra showed top Milan designers Armani, Ver- the Spiritual in Art" in Camera 
one too many epaulet <m militaris- sace, Kriria and Nfissoaoi plan to Work, 
tic suits, but the evenmg picked op show couture collections in Rome The mterdisriplinary aspect of 

cfippn matn nmi l v ovromc - -» — - f m. w 

phased die only Kaodmsky ex- of the beacb a i $384 tear a fiw- 
■iced at the- New York Armory "mfitititer viaL - - 

Rome couture otwld get a shot m Show, and reprinted the artist’s The beads, 12^00th of an inch® 

study “Concerning diameter, were mada £stoCtioh* 
in Art" in Camera free in zero, gravity aboard ife. 

tic suits, but the evenmg picked up show couture collections in Rome 
speed with some pretty gowns, in- next season. 

the theme begins, perhaps, with Pi- 

space rfmttle ChaTu 
process developed fa 


An emerald and diamond pendant 
from the Estate of the late King 
Umberto II from Italy, sold in 
Geneva in May 1985 for 
S.Fr. 375,000. 

Entries for these sales can be examined 
by appointment with the experts in Geneva or Zurich 
during July and August. 


2+ me de la Cit6, 1204 Geneva. Tel; (022) 21 33 77 
Bleicherweg 20, 8022 Zurich. Tel: (01) 202 00 1 1 

ALLAH 5mS,fWE t t51HAT 
WR GW5mmTHA5 ID coop- 


N.Y. Stocks Hit a New High 

on Musk 

21 rt .- as reft a* mi- % 

M ‘ 128 14* . IM 1M + Mi 
■ -••.■« .12% 11* 12%.+ % 
n a 234 in* law im + u 
■ a 1% im m ' 

• 3765 48% 47* <7% — M 
iff 2.18 90 ' 21 Hft 22* 22* 

*s s-n.a f»isssa + w 

in 102 ■ 1443 27% 24* 26ft — % 

;ix 3 g:>™ sj w »* + % 

Is 50 : 22 27 im 22* 22ft 22ft — ft 
41 M 154 14ft 16 14ft 4 % 
_33b 43 V . St 7ft 7ft 7ft 4 ft 

-- 1 ? w u % ^ iSiiSftia 

isus Sw+a 

1* WN» m agjm+i 

ftfSE'3 tfs ISSSfffi^.t* 

M 1 

0 % (and IWi, 

«S?V* E nkSft^ 

c-Mctc? Cunningham.s*, 
iHh^hcrg callaborS 
^chc^=r r , uork ls * 
erf ic SiungarL buiOwU 
nnUiior.b are ihac as an te w« " 
or the .rr.p^i of the visj* ^ ’SS£ 
the muMja! idiom So ffiS *25 

147 2 lft 2 4* 

41 31ft 31W 31W— ft 
52 Sft 7ft 5 
26501 02 Bt fll +1 
18*185 105 105 +1 

two* U 86 U +1 

MOOt 74 73ft 73ft + W 
640c 71ft 71ft 71ft— 3ft 
106 15ft 15» 15ft + W 


„„ _, ... 534 30ft aw. 30ft + ft 

Sft 5% Atosi UO 44 13 2295 27V. 2636 27 + ft 

S£ wS JUCOStd 1-20 12 T3 114 37ft 37 37ft -f ft 

5, 17 Ai«xAlX IX IS 4002 28ft 39ft 28ft + % 

Sb*.***™* I" g »»*«*?« + * 


5 SSTiKi™ 1 ™ 

45% AhlP P< 964 11J1 
n S% MoPte 8.16 11.1 
n £ft.5£ppi JX116 
IM lift AIQ98C8 104 .44 9 
Mft 9ft AWcAlr -. ^14 i U 

185 m Akxtfll X 15 19 

33ft W% MHs» 0* 2-5 *? 

idiom. So. vn, 

»• •'h-wfc hj\c Unit; nntfc 

Cft«t> value, though iht® 
er’s tuna! inihjt?tioiB g 
rd jr cr:i:c Kncraiion. 
he iT.pjwi of poinungoi® 
ibin’.v difficult tu 
Suu!^j-l^n- hi> induikds 
cTsie-s a. the "Octophotfi 
nj hv the Ruv.ian painurYlg 
■ BLirjr.ffJ-Roviine in B 
Bihmjnj ^I’llt-r pri.jtsik*s»6 
no kevh-.v.iii. i: fwtshalw 

lh : o. »-.•: .a**",*,- eiir mpj 

i itnv Ccv-'f Teknaim^ 


m ■» 

114 42 I 

i sjrtibr "•ipnw! hirpafe' 
?'•*. ,ji:d i!'.; !::>! w.iriingcd^ 

17ft 7*AHotte 
46ft 44ft A Homo M *i W 
am 24 Vb AHOSP 1.12 7J5 IS 
t7ft »ft SStfi AM 7.1 9 
90ft 52 AlrvGm A4 S 24 
2Bft 18» AMI 31 M “ 

39 s * iS! !EES. .12. 

Uft 12ft a!lf 1%2.19 154 
U • 10ft AShlp M 57 11 
3$ft 24ft AmStd -1.40 5.1 10 
47ft 32ft AmMW M IS" 12 
71 «6ft ASlr ptA JJ 
SPfi SI A9lr sfB 6J0 TM 
24ft 16ft ATAX.' : X2« 

24ft *--,r» , .17. I 9S4» 

Eli' ^IKs.341 ” -.—4' 

ic? ■ — ft-' r'-'^iietcd 3 

te^piiL- :hc bee 

.-»# the L’.pre'iwribandfts 
. the !.T.P.uI •'* "lUHiffiJE 
car. hard. 1 - ^ ra’jsslsr 

t^r» L.o.-.i'vf'TiBsiBt 
: u r.'u:h ^ 
;n‘. Bcr'ir rerfivnuK^lk 
MallhCA P-^ior." ciCdt 
; ; f. hifltas* 

^sc Kswtf ^ 

preser. '.a ■..'?■ t'®*?® 
. dl':^ & 

. of- f >“ s P r ; 
K- r evuiupt^ 

LSC'.i:-'- 5 -* arsrni 


ii>. »-•■. - . 

, u3 : 

ira: r'siAi; l^O 

37 Oft B2ft «2ft— ft 

153 Z4VS 24 24ft + ft 

7 19ft 19ft ljft— ft 

3 97 97 97 — W 

920 am saw am 

137 22ft 21* 22ft + ft 

1984 45 44H. « 4- ft 

208 43ft A3 43ft + ft 

97 114ft 114 114ft — ft 

1 103ft 103ft 102ft „ 

52 20ft 19ft 20 — ft 
1159 40ft 59ft 60V. + * 
174 5ft 5ft 5* • 

20 22ft 31ft 32ft +1ft 
r 153 29ft 29ft 29ft + ft 

»ft MWPi TK 84 5 34ft 34ft 3«ft + Mi 


Mft 15ft ABtftr * «£ M ^4 + ft 

SftSE JSS'S wS 55 ’ “ mmtft 

rS'uiij ABrdpf 267 40 2 44ft 44ft 44ft 

sS2 ABdcA 160 14 17 1140 114 llSHItZft 
9ft 19ft ABMM M 3.1 15 ™ SS S5 + ft 

»k 20ft ABuoPr 64 22 16 55 2Bft 28 avi -r n 

3ft 40ft AmCOT 2J0 4.9 n 

25W 21ft AConpJ 260 112 

2ft 37 ACon P« M0 57 

114- 103 ACdl Pf 1375 12.1 
nm ACOPBd 238 107 

20ft 25ft ACopCw ISltftS 

11 6ft ACantC 222 

Oft 43ft ACvnn 
xn& IW ADT 
24ft 17 
49ft 25 




Mft Kft AHOPW 270 82 10 
Sfc TO AWG 1‘ 

AlldPd 1> 

AlMStr 2.12 33 9 
4ft AllftOl 
_ . AO.TL 
2W Alcoa 
2216 13* AtmOL 

1 .- DnittdVrm latematiMtl ... I - ‘.C 

NEW YORK — Prices rose Friday jpoi flic 
New York Stock Exchange; propdEog-thoDcw 
Janes industrial average to a record Jt^^ Unrd 

time in the past four sessions, 

The market was mixed throu^i moM as me 
day but turned higher in afternoon trad in g. By 
|a fff afternoon, the had recovered most 

of the _Rroond lost in a mOd bwt of profit- 
taking Thursday. *‘" 

A late buying program related to the_qqnrar 
don of June opooiis gave the market irs final 
shove to a new high. . 

The Dow Jones mdosttial average gamed 
8.62 to 1.359J4. For the week, the Dow rose 
20.94. ’ > . -. 

Adv ancing stocks outnumbered dedining 
ones bya >2 ratio. Voltnne totaled 114.8 mil- 
lion, down from 131.4 million Thnrsday. 

*TlMmartetismalonfrtermi^ said 
Barry Berlin of SheaistMi l^hm a n Bros. 

Mr. Berlin said the market experienced some 
profit-taking Thursday, d rain in g about seven 
points after two days of reccffd-breakmg ad- 
vances. He said the fundamental factors sup- 
porting the market were an' environment 0* 
“reasonable interest rates and a general lade of 
speculation in the overall market. . 

“It’s cnntirt investment money tot's flowi^ 
into the stock market, and I think that ww 
continue,” Mr. Berlin said. 

Analysts said volume was light compared 
wth previous sessions this week. “It’s a typical 
July Friday," said Dudley Eppd of ,DU Seam- 

ties. ... 

Mr. Eppd a ted buying in thehlue-dnp issues 
and commodity stocks, both “in antiopatum 
that the economy is finally going to get better. 

ogling prevailed in such interest-sensitive ar- 
eas as-utinties and . banks. Mr- Eppd said some 
of the “smart accounts* were taking profits 
aftermost money-center banks reportw sharp 
increases in second-quarter earnings this week. 

•There is still a lot of power in the market, 
said Mr. Eppd, who pointed out that money 
stDl is sMfragout of the bond market and .into 
equities. But be also noted that professional 
money managers are “pretty happy with thor 
performances this year and are being very care- 


Alan Ackerman of Herzfdd & Stem said the 
market’s tone is good and he called IBM’s 
performance “impressive^” 

He said an underlying cause of confidence is 
the that President Ronald Reagan is 
uready logel bade into action.” Swine investors 
betieve a sympathy factor najr help t he prea- 
deat break some logjams in Congress over the 
budget deficit and tax alterations. 

GJ). Searie was the most active issue, up n to 
6414. The pharmaceutical comply is being 
acquired by Monsanto Co. for $2.7 mwon in 
Monsanto gained 2% to 52H in active 

tn Sps Petroleum was the second most ac- 
tive issue, up U to 12. 

Crown Zdler bach was third, off lito 41 w, on 

reports that Sir James Goldsmith enlarged his 
stake in the company. 

Bankamerica Corp. dropped another % to 
17V4. The stock has weakened smee the bank 
reported a hnge second-quarter loss Wednes- 

^TV Corp. strengthened V4 to W arrf U5. 
Steel added Vk to 28 ft. LTV announced plans 
Friday to sell its stainless steel business. 

isr s - - 

i m rii if 

EnmBi Itf U U 
Emftaa 3* L5 IS 
BmnrA JO 17 1> 
Emlwn 160b 44 11 
EinpDi 124 78 ■ 
Cnvpf 31 1U 

I5SS. 22 U 10 

ErS^? 160 46 14 
emdipnoja 10.1 
Enctiid 4.M112 
i EnfExn Afht M 

1 B ny 0 * 24 

[ EnteEn 2609142 
Entrain 120 46 H 
i Eoutici 1.14 33 T9 

| EontScpf 231 112 
| Eofftt* 122 36 8 
i Equltcn .12 2 11 

■ Hrbmnl 20 26 15 
i Mill 64 16 15 
, EfMxC Mb 33 34 
. Esfrira 22 02 K 
I Einyl 8 64 20 15 

i vIEWlP 
i vIEvanpf 
, wlEvHBtB_ m _ 
I exCMO 122 0.9 12 
k exraW 166911.1 
Exxon 060 46 > 

64 26ft 26ft - 
94 10ft 13ft 1 
MS 4ft _£% 
510 73* 73ft 1 
958 11 urn 1 
384 lift It*. 1 
753 32ft 32 3 

43 22ft 2216 1 
lOOl 9 9 

144 28ft 28^ 1 
HO 24ft 24ft : 

■mm 102 ii 

rota 54ft 54ft ! 
20 102 102 V 
205 20 Wft 

it P it* 

109 17ft 17ft 
116 19ft 19ft 
75 34ft 34ft 1 
83/4 3ft 
31 19ft » 

194 47ft 47ft 
74 14ft 14ft 
988 12ft I2Wl 
82 ZIft 23ft 
35 27ft 27 
247 19ft lift 
968 34ft 23ft 
II 1* 1* 

9 2ft m 
4 3ft 3ft 
271 43* 43ft 
3 14ft 14ft 
7820 S2ft 52ft 

i«i is* egu ft k ;; *g I 1 * 
s* ir A aSSSrPH 

19* iK SdfC* M » OTlW!8ft]» + > 
34 19ft HifUCptlJO 45 _ 

21 14ft Mictmi n JS 

49ft 30ft Hirshv 160 U U 

10ft 3ft HoMton 
44ft 31ft HraHPfe 
33ft 21* HBXCsl 
23* 13 Kisfwer 
Uft Ift HIVnft 
24ft lift Hltabrd 
73ft «ft Hilton 
37ft 27ft KltoOil 
57* 35ft HOlklOY 
B3ft 42ft MOllyS 
27* 12 HomaD 
27ft 11* HmFSD 


50ft KMC 220 U 
18ft FPL S* 1.94 76 
9* FobCIr 61 26 


347 59* ■ 99* 59ft 
20 25 25 25 
7 32* 52ft 52* + ft 
2 113ft 113ft 113ft + * 
73 20* 20ft 20* 

11 29Vr 29^ »ft + ft 

1.90 35*14 17TO 54* 53* 54* + * 

S oj 25 in ?** a*ft 39*- a»| 

13 MOD* 

MoULbw Aack _ 

tk Cbm 17M9ntti 

DW. V* PE ffiiHMiL— QuMdiVi HWiLni Stack 

a. riMa 

0*. YU PE lOdHItflLoi Boot OHM 

Attipw ^n 96 9 rm aft W. 

_ AfnExP 160 27 14 4630 47ft 4M* 4«4 W 

9ft AFOml* 68 16 J7 909 Bft 24* + *, 

19* ASnCP 160 ^ ** ^+2 


71ft 71*. 71ft 

... _ +* 
— Ittmr 

86 84ft— *| 

27ft 27ft— * 

3ft 3* a*- ft! 

- r B s s a:st!a +, ‘ 

B3 14 


1 r . 

P2f'— ■ v 

%:d H- 


«l't 32ft ATKTPI-J74 

2tft 19ft AmHotl 060 1U 
rr/x 54* ATrPr 564 M 
» 5* ATrtc 

89ft 62ft AtrtJn 564 46 
40ft 24ft Amaron 160 *3 
58 24ft AKWXD 60 6 

39Vt 22ft AnwtDk 
28* Tift Amfoc 
16 4ft AmlMC 
69 30ft Amoco 
38ft 24* AMP -- 
24 lift Amoco JO 26 17 
21 iz* AmrtPB 11 

34 21ft Arnsm 160 36 9 
43ft 25* AirataO 160 46 14 
4ft I* Annonc _ 

34* 16ft AnVxja 28 

30ft 19* Anchor 168 56 
44* 27* AnCtay 
12ft 9* AmfrCr 


51 - 44ft + ft 
77ft-*- ft 
22M + ft 



















' 22 * 

24* BOSEd 
43 BOSC pf 
9 BmEpr 
to* BatEpr 
IS* Bmntr 
25ft BrtoSf 
43* BrtalM 
3* Brttuxl 
21* Bl«Pt 

22 BltTlMb 
1* Brock 

14 Brcxwy 
28ft BkyUC 
19Vk BkUGpf 
29 BkUGOf 
13 Bratfh 
22* BmmCp 
30* Bran* 
27ft Brrawk 
27* BrshWI 
13* Bumhr . 
IS* BtadcrH 
14ft Burma 

23 BurUnd 
33 BrtMlh 

4ft BriNopf 
19 BriN Of 
44ft B/1N P« . 
11- Bumdy 
48* Bmrth 
.12* Butliin , 
Wfc Butm -J 
.<3* Bute* of 

36« 76 8 
868 106 - 
1.17 105 
164 MJ 

a it i 
160 56 11 
16. 101J 

160c 46 8 
618 26 

1J2 46 24 
112 76 8 
267 96 
195 187 
68 6 9 

U4 46 20 
160 10 19 
160 16 9 
-51 U IS 
60 42 9 

65 7 J 
in 96 
64 13 14 
148 46 H 
J2 26 92 


111 .41* 
TSte 82 . 
6 11* 
22 M 
1444 63* 
194 29* 
3827 53* 
4 4* 
334 29* 

302 24 
U9 6* 
153 27 
an 48* 

4 24* 

15 37 
. 43 22ft 
947 39ft 
305 54ft 

303 33* 

. 71 19* 

34 19 
181 II* 
1120 29ft 
29H3 45* 
10 7ft 
4 23 
712 51* 
239 13* 
till 61ft 
■ 84 10* 
.194 1ft 
27 4ft 

41* 41* + M 
81 82 
lift lift 

SSS.+ g 

63 * 43ft * * 
4* 4ft 
29 29* 

25*. 25ft 

a* 26* + * 

5StSft + ft 


17* 17*— ft 
68* 29ft + * 
45ft .45*—* 
7ft 7ft 
22* 23 + ft 

51*. 51* . 

12* 13* +ft 
41* 61ft + ft 
18ft 18* . 

4ft 4ft 

59 —1 

12ft + ft 

m uft— 

150 20 27* 28 * ft 

36MJ 5.1 9 1499 tK 4*ft +1 


445 48* »* 4*fc + * 
38 322 2Zft 22ft— ft' 

60 16 It 129 12* I? m - 

164 11.1 


. „„ 52 

i CPC Inf 260 10 12 
_.j CT» Nil 160 56 10 
19ft CHIIMI Z078 96 

22! , :« •' 2ff* A Wraft O,.. 33 3308 34* Bft SH? T S 

J-. ’A a:':-'' 

. .1^.. j..-. m?- n ' 

. wsn ' “'.w — kJ® 
■f"-- 1 "- ;■ ■ 

fl — jr.» 

til v L** 

j TO* AluSVf^ M 

^ niZ ST4 

18* Anmnv 64b il 9 
9* Apoch* -60 26 II 
2 ft M»CJ»P Wt 

19* 15ft APChP Wfl.19 11.1 

» fl 

34* 28 
31ft 24 
39ft 18 

jbe • *- 1 

■ •*.ruA | 

' . .kf-rtUp 

V p.* ! 

.. ip* 


ApPwpf 768 116 
AbPwpJ 6.18 J26 
ApPwpf 369.106 ,, 

API Dh> 17M 56 14 

„ _ ApoiMs 70 

34* 15* ArchDn 

30* 23ft ArlPP* 

UQ 79 
24* 14 


71 70* 7*4 + *, 

^ JKiSSiT^al 

103 1 ft 1 t J? 1 

409 ^9 w* 19 + ft 


2*1 3S ^2 

.i4b 6 la m3 22* ft 

11J 54 30* M* 30ft 


ft AiHnBt 

,11ft Armocta 
4* Armco 
23* 15ft at me cl 2.10 96 

24ft Uft ATMRb M S-l 7 

39* 23ft ArmWIn 1J0 165M 

34ft 19 AP0CP 1^ *-1 

25* 12* AIOWE M 

30* 16 ATtra XL 

34* 14* Arvkis 60 

27* 17*A*OTCO 
— 28* AlhlOfl 160 

16 12 
36 9 

_ 1. -SilTft 10 Ayfalla 

. ., O/,® -V41 27 Awnat 

rt Ii; IJl“ ^ 25* 17ft Avon 

s J^Plr U 30* lift Avdln 

[ade on 

AtIKi IOTB IM J?5£ S* S2 _1 

^ ,5 S3 II 1721 lift T7* l^jb + ft 

oE ’St ja 

1 SS M EESt« 
j?g £* 3S Sftt X 
H SSSSSft-ft 

is 33 3S.« 


T 140 13M 139V> +1JI 
34 12* H* + 2 
894 24* 25ft 25* + ft 
7W Bft »ft 3B* + ft 

» 30* 30ft 30ft— ft 

K»ja g*3*» + 

U 14 IB ffll 110 W 



44* 31ft AMO I Pf 364 
49 49 A80OO 260 

110ft 79 AOdOpf *425 
21* 18* Alhta* 160 _ - 
29* 20* AIC»«1 2M J5 J® 
44* 40* AH RfCft 400 46 27 
32ft AMtcpf £75 
_ 97 AttRcpf 260 

lift UftAHraCp 
MV, 18* Ausat 
54* 34* AutaDI 
5 4* Avalon n 

31* 16* AVEMC 
39* 24* Avery 




L5 22 



„ 160 30 

gtux -j. - j 

4&8H, 68 26 ^ 

Camml .12 6 

"•aas i fi 

36 13 

corns wl 

9* OdPoc* M 

14* CqnPgp 60 

ZBU 150* CopOftr 68 21 

27* 15* CopHd* 67 
Wa 10 CorlnOO M ,, _ 
40* 29 CortWa IM 36 9 
2t* 15* CaroFt 60 16 12 
3ffft im CarPW Utt M 7 
25* 19*ChtPpI Lg 1“ .. 

SbS® *5 ”5} 
r iKSKi 5 «]i 

TgiS »1 
16* ?ft Cartjg c . 

12 10 CwHCyl 

29 15* CsfIC Pf 160k ;• 

15 12 C rt lCg 60 *6 

40* 28* CotrpT 60 16 
27* 18* Coca J* 3.1 12 
Utft 43 CalOMt *60 X5 W 

g- ^88"^ 8 

76 1 

29ft lift CnLaEI 268 76 8 
37 29* CLaEl pf 4.18 116 

13* B* OMPw lJg 10J V 
21* 13ft CVIPS 1.90 96 6 

lift 2ft C tnirg l 
12* 7* CntrVTl 

23ft 18* CanvHI 
28ft 15* erwead 
24* 16ft craiAlr 
24* i«* cnmpin - 
77* 19 ami Bf.l« JJ 
54ft 43ft Chmlpf 460 86 
10 8 ChomSp 60 

1600 40 H 286 23* «l Wft—g! 
MO 26 » 

a-" , »as'a*®iS 

So 76 -44 O 52* K*-> 

m 57* 54* 54*— * 
42 11* lift 11*— * 
187 28* 28* 28* — * 

II 18 9174 S* S» ^ + a 


12 «ft 


S- : « + S 

100 at* 25* 2Mt 

'ill 17* 17ft 17*+ ft 
128 14* 14ft 14* + ft 

63 9* 9 9 — * 

.. 107 222 228ft 220*— 1* 

g-S£^|* + Vfc 
,ra 6 S5 2S S5 

272 45ft 44* 44* — * 

l 3 giais;i^ + * 


Va 43* 63r + * 

1 108 26ft 25* » -Vt 
lS 30ft 30* 30* + ft 
532 2D* »* 

2M -28ft- 27* 21 —ft 
7 34ft 34ft 34ft— * 
280 U* 13* 13* + * 
44 31ft 2MJ 21* + * 
1361 *ft Z* 3ft + * 
282 12* 12 12* + ft 

37 20* 20 28 —ft 

186 24* 2t„ 34* + * 
445 22 21* 22 

2707 24* 24* Mb 
2 34* 24* 26* 
as 53 52ft S3 + ft 
293 9W 9 9* + * 

25 33ft 

35 24ft 


30ft 16* 
27 15 

19* .»ft 
24* 19* 
27* 17ft 
— 10* 


48* 25ft 
77* 44ft 
TO . 4* 
38* 32 
93ft 41 
19* M» 
51* 49ft 
23ft 18* 

40* “ft 

44ft 27ft 
50* 43* 
45* 30* 
35* 20* 
33* 1 7ft 
18ft Si* 
DM 8* 
38* 30* 
52* 27ft 

CwE pfB 860 106 
CwEpf 267 96 
CwE Pf 267 IU 

m3 55 


SSSr 3 A 


ConAss 67 26 
ConnE UO 4.1 
Ox.NO 260 U 
Conroe 60 69 
CODS Ed 660 46 
ConEpf 400 15 
ConEpf 465 101 
ConEpf 560 IM 
CnsPrf 1.10 36 
CnsNG 262 56 

CnPpfB 450 136 
CilPPtD 765 136 
CBPpfE 762 146 
CnPpfG 764 140 
CnP prV 460 M.T 
CnP pru 360 14J 
CnPprT 368 145 
OiPnrW 400 140 
CnPprP 368.U5 
^IpptN 385 141 

'PPVM1M 116 
prL 263 136 
M pr8 402 140 
_,P prK 263 136 
QillCP 280 4.1 

■in pf 


Si® 160 « 

la 62 26 
pf 450 116 

Id Mi 3.1 

CaOPlPf 35 76 

as^ \ g 

SwUpf 268 116 
Cardura 64 32 
Corain ,64 43 
CarnO i 1-M 26 
CarBlk loo 2.1 
CaxCra 64 6 

Owl 16» 46, 

aS5pja.i0 HJ 

CrckN Pf 1698 25 
CTTflpK 160 U 

CrwZnl UO 26 
CrZ8lPf.4a 96 

an s 


CvdOOT L10 26 

J0i 82 82 82 +2 

SU»»» 24*- * 
If 24 25* 25* 

llOOr 74ft 73 73 — ft 

- jSm 43 44 

A 97 JOft 30ft 3Mb + ft 

1? AM 37% J7 37% + % 

2 iS2 34* 33* 34*- * 

10 52 39 SBft 29 

io rn 20* 19* 20 +* 

58 12* '14* 16 16ft— * 

” 172 37* 34* 37ft- ft 

in 10 20 19* 19* 

9 47 30ft 29* 30*— ft 

4 II H 13* 14 

8 2508 37* 37 37* 

12J7ft 237ft 237ft -3ft 
Z2U44* 44 44* + * 

7 49* 49 49* + * 

12 179 34» 33* 34ft + * 

” €.l i p 3 s=s 

71701 54* *L. 55S +1* 4 
150x54ft S4ft 54ft-— 1 

200k 55ft 55ft HVl + * 
207 31* 29* 31* +lft 
6V 25ft 34* — 

15 26* 24 
173 20* 27ft 
29 27ft 27 
12 27ft 27* 

12 18* 17* W 
24 M* 14* 

• 18 28* 27* • •- 

37 18 17ft 17*— * 
*1 1295 43* C* 42*— * 
M 122 7* 7ft 7* + ft 


5 TO lift IMk US ^ 

9 1104 24ft 

1014 27* 27* W* + ft 
20 k 39*- 38* 38*— 1* 

» » ^ SilS 

* >7g 2* 

7 179 iSi igfc M* f *, 

18 1289 26* 25ft 2M + *1 

111 11* 18* H* +1 . 
11 21* 21ft lift— ft 
17 59 3* Mb 24 + * 1 

12 109 izn.n* WW - 

19 1214 48 47 47* + * 

95 48 47* * — ft 

23 14 75 74* 75 

11 94 P* 37ft OT8 + *1 

1, 91ft ** «*-ft 

„ ss*^£f;+gl 

14 92 47ft 67* 67ft + * 1 

“"SSftS* s* + * 
n 'g.sasBSwtg 

33 712 27 26ft 24*— ft 

g srsass xi 


13ft Frfrchd 60 16 
33* Falrcpl i40 95 

10* Fatf« -J* I-* 

13* FemOlB 60 6 

n* Pandtl 60 36 
23 FrWxrF 
14* Faraft M *7 
8* FayDrp 
4* Podara ms A 
29* FodICo 164 46 
31* FodExp . _ .. 
29ft FdMOP LS2 4.1 
10* FldNM .14 6 

It* FedIPB 60 14 
45 PPoPPt 160 25 

^SSSSw 164 *3 
lift 264 46 

isfis a a 

4 PIpCpa jM 
3ft FlnCP Pf 60 1W 
14* FlnCp Pi 4610200 
2ft FnSBar 
16ft Hrwtn 60 36 
17* PtATIs .68 U 

21* FBfcm 160 36 
im SSI 1J2 56 

44ft FChlOPf 563.126 
35 FtBTxPt SJ4P14S 

, OT+ FUMl 260 4.9 
21* Fim*fpf2J7 76 
, 7ft F1MI88 6« 26 
14 Flflalnn 

| 20* FdPapI 242 *3 

:E« 'a H 

17* Finnic UO 3.9 
r 2* F»chb 1J» 23 
, 8ft FWiFd 65 b A 
21* FltFnGl U2 36 
, 42ft FltFpf 4J3* |6 
1 14ft RaalEn At 2.1 
1 25* Flpmnp 100 26 
I TO* Flnxt Pf 161 126 
l 14* FWTtSI* .14 6 

i 14* FloatPt 
> 21* FtaEC 
1 i9ft FiaFjrp 
b 11* FJoSH 
b 3* FtwGan 
12ft FJowr» 

14ft Fhipr, — — 
47* FPPiaC IM 36 


:2*RSS 3 g; 

18* FMEPn -55a 26 
E BS" 2610256 

22 * Frffira 3 « 
-20 F notes 60 26 
25* FniltfPf 200 46 
EM Fuqua 60 16 

37 521 
9 1414 

24 93 

7 a 


TO 332 

25 233 

13 43 

5 32 

8 159 
17 130 

8 99 

* 09 

32 2527 
11 415 


9 182 


14 139 

15 358 

8 2307 
U 104 

13 72 




18 1593 
18 218 

9 ZM 

14 24 
14 3120 

12 434 

10 133 

8 284 

8 2C7 

8 508 

8 401 
17 5 



47ft 44* £ 
27* 27* r, 
11 10ft 11 
13* Oft II 
14* 15* ll 
37* 37 X 
12* 12 Ii 
23* 23* Z 
It 15* Ii 
32* 31ft X 
19 18ft II 
M* 9* < 
5ft 5* 
41* 40* 4 
51* 50* 5 
34* 34* 3 
2B* 19* 2 
19* 19* 1 
48* 48* 4 
29 28* 3 

22* 21* 2 
17* 17* 1 
5PM 58* 5 
29* 29ft 3 
29* 29ft 3 
7ft 7* 
5ft 5ft 
31* 33 3 

4 5* 

22* 21* 2 
27 24* 2 

42* 41* 4 
32* 31* ! 
45 44 4 

25 24* ; 

44* -45* 4 
12* 12ft I 
40ft 40* - 
10* 10ft : 
23* 22* : 
54* 55* I 
51* 50ft : 
31* 30 
9 I* 
25* 25ft 
7* 7* 
29* 29* : 
19* 29* 
27* 24* 
33 32* 

34* 33* 
11 * 11 * 
41* 41* 
50* 50* 


93 SB 

14* 15* 
.5* 5ft 
19* 18* 

B" S& 

74ft 75ft 
13ft 13* 
II* 11 

7 33 32* 33 — W 

357 19* 19ft !9ft— * 
398 47* 47 47* 

174 I* I 5* + ft 
72 6 17 3403 37ft 34* 37* + ft 

P0 16 17 174 31ft 30* 31*— * 

50 U 14 232 22* 22* 22* + * 
17 15 9 149 11* lift Hft- ft 
5« 2.1 14 72 W 2Sft ** + * 

160 26 14 342 47ft 44ft 44ft— ft 

J3e 1.1 10 1439 “* »* »* - * 
100 16 M 201 55ft 55 SS — * 
100 16 17 13 73* 73 73*— ft 

27 559 13ft Uft Uft— ft 

B 1613 25* 25ft 25*- ft 

9* 7 Hmtfipf 1.10 III * _£* ’ 

37* 20* HiraHjji JO 6 58 2999 H* H Mft- * 

S* c* ESST" 60 . “ 10 11 ” «* lm lift — * 

SS Erf 7JM u 14 1230 46* 44* 45 + ft 

h n a ^ n 45 M 4*:a 

52ft Mft 60 16 14 SIM MW 51* SI* + ft 

S5 a* hSiS aS M 13 IS ag0 a “ft- ■* 

132 ™ HSS?Sb M 3J » « M* UM M* 

Sft as Ste i" H * •" g£ 3 ff'Tift 

57 34 Holntpj 3M 46 U SW. S7 H +1W 

81* 61 HPlnlPf 4JS 76 1 *9.'* * 

3^2 «ft Mg 7 ’■g lift £ « - * 

JS 2* »E: * ft 

SfiBfc ssS^Bsasssii 
5 » s “s r sa s^rs 

tSo H ! *25 S2 §5 92=2 

24 17* HlIBhBP 

35 21* Human 

31* 19* HunfMI 
41* 23* HUftEF 
31* 18* Hydro! 

35* 23* ICInd 
19* IS* >CMn 
11* 4* ICN 

X 22ft ICNPf 
18* 14* INAIn 
27* 23 IPTlmn 
20* 14* IRT Pr 
34* 21* ITT CP — 

47ft 48M TTTPJH 460 
43* 44 >TTP(K 400 — 

61ft 45 ITTptO 500 82 
44* 30ft ITT PIN 223 52 
65 46ft ITfPfl 460 76 
21* 12* IU inf 60 46 
24ft 14* ldpnoP»162 76 
If* 11 1 (tealB _ 

27M 17* lUPwar J44 m2 
X 13ft JM ”J 

21 14ft MPowPf Z10 106 
30* 14ft IIP?*?! 2-J? H6 
21 15 IIPPWP* 121 106 

38* 77* HPowpf 4.12 JO* 

35ft 25* llPowpf 360 11.1 
53 50* HPPWPt 1-*« 2.1 

45 37 HPowpf 453.106 

1 8* 29 HPrarPj 467 112 
37* 25ft HPOWPf 400 11J 
X* 22ft 1TW 32 25 U 
I 40* 27* InwOm 209. 53 9 
12 5ft implpi «... * 
14* ■* IN CO 60 IJ 
X W fMIMPf 265 11 J 
30* 23* IndIMpf 16J 1|J 
28* 10ft Indices 160 7.1 7 
10* 4* Inexco 671 
24* 13* lafiMC 
52ft 35ft IdtfR 160 50 17 
37ft X InpWpf 2JS 45 
15ft 11 Ingi-Tpc 64 36 X 
25* 19* imasii SO 1 3 
40* 38* inwarpf {.niu 
21* 14ft Insllco 160b 5.1 '• 
7* 3* IrapRs 

24* II* tnfuffic 10 

X 19 lirtoRPf ”-7 

35* 25* IldPRpf 425 122 

9* 9ft Inftoan 

M* 7* IntRFn 

19* 16 imps. 

78ft 55 inlarco 

I 151* 120 I nter Ft 
Uft 9* intrfw 

53* 41 imrik 
13* I* 1 ntmMl 
. 24ft 14* inlAM 
IX* 104ft IBM 
» !5* !«!CM 

31* lift LonaDi 
34* 22* Loral 
13* 10* LoGanl — -- 

38 52* LoLand 160 11 10 

25ft 17 LaPac 80b 36 48 
TOft 28* LoPLPl 460 149 
S* 14* LaPLR* 114 UJ 
32* 22ft LOUvQi JJ4 86 8 
SO 34 LOWlf 260 42 7 
lift lift Lawra \* ” 

25* 19ft LUOnl 1.14 48 M 
36ft 24 LUDV»% 60 16 24 
23* ft* LuckvS 1.14 52 12 
16 10ft Lukm 68 34 IS 

U IS IN 29ft 29V* >9ft + * 

64 16 90 1205 34 35 15* * * 

3sb AS 10 7* 12* 12W 12ft 

443 32ft 31* B* +1 

509 27H 27ft 22ft 

77 32ft 32 32ft f ft 

X 26 m 24 

450 30* ML. SBl'a + M 

157 471b 47 47ft + ft 

219 29ft 28* 79* + ft 

451 24ft « 24 

in 14* IS 1 . 34* +1* 

320 22* 22U 22ft + M 

*7 14ft U Uft + ft 


SS iffi JScS 0 ** m li S 1SS S* S5: S£ t * 

24* 17* Kora 1-« *6 7 + 

39ft 34 MCorpf 150 8.9 2 39ft 3* f“ 

JS h 2T*KSS 

W* 17 “ft MGMGr 64 26 io 100 17* 17* IT* + ft 
B* ^SSSSSpffi 13 9 lift 13ft Uft 

u* 10 MUU4UO 20 * 13 I® 1£» mS- ft 

£rS 3 r^r )jl Ji£g:S 

rKSa aB IHECSte 

iss’isBsss.a." ’ 

23ft I2M Monnin JOO 22 1W 13* . 

«« 11 MrainNI J2 22 43 14VS U* ■*.» " * 

29* 12 MonrC» .14 6 24 1W M 27ft gj* u 

42ft 24ft MlrHan UO ll * SS 5^ SS + ft 

56ft 43ft MfrHPf 460811.9 1292 54ft 54 J4V» + « 


164 4.1 U 1320 35* 34ft 35ft +1 

658 36 1W> ft* 14* 1**- * 

73 198 TO* 10ft 10* 

260 U I 29 79 29 

162 106 9 1* 17* 17*— ft 

^8 36 117 2ST. 25ft 25*— ft 

160 8J 7 17 20ft 20'.. 20*- ft 

160 32 H 1543 31* 31ft 31* 

46 - -- - 

52* 41 MfrHaf 567*116 
9* 5ft vIManvl 
24* lift VIMIWIP* 

34* 21 MAPCO 160 
S 3 Mamtt 

2* * mured. 

38M 20"/ Mar Mid 160 
39* Tala Marlon. 21 
M* 8* MarfcC 
lift 13* MarkPf 120 

Sft^jSSSl ff 2^ B s 

44* 22* MOTIMI 160 22 
14 Bft MorrK .13 
U 24 n/sasca st 

368 46 
765 56 
60 52 
260 52 





23* InlFhw 

5ft irdHorv 
2* intHrwl 
20* inlHplA 
17* InfHPfD 


i 3u toft «ft 1 

4 40* 40* as* , 

12 43ft 43 1 ./ 43ft • 

1 42* 42* 42ft— ft 
1950 13* 13ft 13* + ft 
818x 24 22ft 23 — ft 
1401 13* IS 1 + ?! 

2155 M 25ft 25ft— * 

iso* lift 10ft Uft—* 

30720* 21 lift 20M 
12S0Z2D* It* 19 -1* 

1200x21 20W 20M— M 

WtaM W0 
*00* 34 34 34 + ft 

120 52ft 52ft 52ft 
M 43M 43M flft + * 

20* 40 40 40 + ft 

22 35ft 35* 3S*— 1 
143 37* 32 32 — * 

47D 39V. X 39* + * 

373 11* 11* 11M 
SS04 IS 14 Vi 14* + * 

M 3 19* » + ft 

IS 29* 29 29 —1 

58 24* 24 24* + * 

is M 5ft 5ft + ft 
IX 24* 24* 24* + ft 
328 53* 51* 52 + * 

0 34 35ft X + ft 


147 19* m! 19* + ft 

s a 

IX uft 3A 26 — ft 


s g* 8£«*i5 

347 44M 44 44* 

7 lflft 143ft 143M +2M 
705 Uft 11 11*— ft 

« 49* 49ft 4»* + ft 22* 
171 10 10 4 ft 32* 

« ,^^9*4* 

31* 31*- ft 

»ft 1 MenaMr J0 16 17 
JVi 1* MoxayF 
2Vft 20* MosCP 2JM *6 
12* 10 MOllnc 1J3 106 
4. 51* MOIWE Jkr 6 

17ft 7* Mattel 
13* 4* Mni.lwt 
15* 9ft Maxam 

141 51* 50* SO*- » 
371 4 5* 4 4 ft 

M T9* 1^. 19* f + 
477 34* 35* 34* + * 
100 4ft * 4 — ft- 

47 * * 

159 X* 35M J?*- * 
1224 37 X* 36ft — * 
1*5 10ft w* 1"* + ft 
17 T5* 15ft 15ft 
191 99 97* 9Mb 4 * 

414 741- 731* 74 
1277 fl 42* 43*— ft 
9 X 2547 13* Uft 13* 

16 U 891 35* X 35* 4 ft 

56 I 
J 43 


155 13* 13ft 13* 4 * 
US f l 1 2lh 4 ft 

n 39ft 2®b 29ft + * 

IX Uft 12* 13ft 

10 1113 *ft K* *i'k + ft 

I 417 15* 15* 15* 

HI II* 11* 11* 

4 54 14 13* 13* 4 ft 

ss ss'sss^ a.y s s §s |» ^«s 

T Esau ?38 *» « JR & 5; % 

ft?* 9*3 & ^ aSt + ft 

11 10 499 It* It'll 84ft ^ 

“ 13 n ? T r* 52*- ft 

10 48 »* 10* 10* + ft 

2& 3?* 36 7 5 2* ' 1 mi + M 

«* ”ft Mood 160 26 JO >5J“ S* + * 

qiih vth. mmtum J4 in 13 1149 24 XJVx on "** 3® 

M* 24ft Mvdim x 2J M 35ft ?«ft 35* ♦ * 

54ft 33* Mellon 268 4.9 B 

39* 23ft Mellon Pf 260 
4|ft 35ft M*M J6J W \\ 


11* 5'- McOrl wl _ 

I Oft Aft McDId J» 

70 45ft mcDnl » M 
14* 55ft MCDnD 164 
52 37* McCrH IM 

39* 19* Mclnlp 
SO 34* MCKen 260 
77ft 57 IWCKpf 160 26 
15ft 9* McLean 

174. SJ 

36 iiisrii 

16 II 178 
35 17 1048 

2j* 33 IniMln 260 
» X* IniMuH 

368 76 
260 75 
268 10.1 

60 46 17 
64 25 14 

64 25 
64 16 
34 16 

60 45 9 
260 126 8 
JO 26 U 
j® 15 21 
60 16 



kc! '- 

m!: " 
nee.* - - 


Mir/- " 


■k 1 ' 1 -p . ■, 

• ' jP 
the - 


-s ^ 

....rt ^ 

u* 10 


5»Si 3 



Bkrltel 52 

16 H 

25 is; J® t ft 

217 27* 27* Tnt 4 ft 




33 11 f + * 

<!*4&!ses I* 26 n s -Ao a s; +i a 

»k ^ SSS 8 260 2 0 090 « « g*'-* 
S* SS SS?” 504 46 7 153 Sft S* *4 t P 

5SS 19 l M m ** m + £ 


„„ n BallCP 1 J8 
5* lift BOllvMf 60 
Ubb 1* Bally PX 
“* » BaltOE 3M 
5* Bail PfB 450 


76 0 

„ ! 43 13 rn a 2* » 

1* * vIChtwt. B? 5* 5* 

^ ^aS? rt 3J0 46 4 1W1 fl* tit Sift-* 

1 » »|spr*a 

SJ fsv. 9 + 5 

34* 24* Oteirmd 1^ M 14 Ig® " 2*Zl* 

u* sc?sg s & E b = n a 

SSSSBtb u^4^iSS + * 

38*_»*citeyni 260 00 J ^iS3i»v.m*-S 

r ia» 17* 17 17ft— * 

2167 43 41ft 4J *- 1 * 

255 MM A7 (rt +® 

\95 isu tsw. !» 

e :r l 


22* 14* BokArn li- — 

• 40 BkAm Pf 5.U.126 
Wl 43*-E«(Anipf 127.126 

14* 11* BkAmpt 268 ew 5" 30*— 1 

S'-’Kass? 2 5 p , 3i6 

as E' fiijIIiF 5 
1 1 Hr 1 «! i g S 
5^ a.S'sss s 

..4-‘ ^ 22* BoySfC 2J0”1“ 5S 34* 35+» 

-J ^ 29* Boartno IM 19 12 “ SS S 

- . » Mft BeaTCa 160 M * S S* SS 4 £ 

SSISSUS?’ *5 If « J SS®M 
1JB 1 ^ ft 

^ iksssr 1 !^ io iss . 1 * i® 

35* 22* BalHwI. JH U H 
IS 22 BflHwpf 67 19 
97 7831 BollAtl AM 70 9 

M 23* BCEO IM .. 

37* 19* Btlllftd J2 10 IS 
44* 28 to BtelSau 260 
5 41* BataAH 60 — 

31* 31* Beni® IM 12 U 
* «ft 24* BeotCP 260 46 « 

301 113* Bamfof Mg W 
l a* 17 Banff pf 230 116 
Wb 17* Banted n 65. 26 

*” m U 


200 127 CMWw. 

BO* 53ft OjIW'o* 

29* M* O) P"T 
11* 7* CWc Full 
54 27ft CbrteCr 
TM 5 Chrtatn 
13* «* Ow^rno 
u 42 Oirm te 

** ££ gjg; So 36 li 
2* 50* OlUbb Pf 70 ■ 
20* 12* Church » _64 26 14 

60a .7 9 
04t 2J223 
681 16 

160 18 3 

4 Mft 44ft SflJ— ft 

m 0» JgJ Jft ♦ 

^ 54 53* 54 4 ft 

2734 34* 33 
. 304 73* 72 72ft— IM 

2 41 41 41 — ft 

tV lift II* IM 
n 3Mk 24* Mft + ft 

34* 2* OnOPf 4M 116 
39* 24* Ongpf 0J5 }J9 
74* 50 OfiGbl 900 115 
SS S oSgpJ 764 125 
n 48 CteO P{ J6g JH 
74 SB OnOFf f -S ^ v, 
1|* OnNUI 32 36 27 
37 23* ChTlK J4 

31 18* OrCJty 

cut 37ft CiTICTP 

97* 79. 


200x 34 34 34 

106j X X 30 —1ft 
5»73ft 72ft 7Wf-ft 
80/ 59ft 59ft SJft 
4300* 72* 72 H* + 
w . 74 73ft 73ft— * 
T£0 21* 20* =25 + ft 

264 4J 7 3fflg fl* «ftT 5 

S&A905B m ^S«ft w ,22itS 
17* 79 atep PJA9058 Y6 5 TOflT 29ft 29* 2W* + ft 

ll* 28ft CKvin* 7Mc tvS 7 7* + ft 

PJBS& 334*£&b:: 

514 35* 34* M* + ft 
4 35 9S 35 4* 

2148 « «* raj-1}* 

« SJ SS 24**4 * 

46 Ti17T0 «{ * 

'g Sasaki* 

970 43* fl* fl* +lft 

^ a « Its 

S ^5 15“ Atl 

3870 18* 17ft 11* + * 
S4.44* 44ft 44*41* 


29* tftCtalrig 
32 23* ClarkE 

s* im 66 

Oft U* ChwEI- 111 

tsss asar 1 $, 

17* 11* cwpkpf l-JU 
19 12* OvBfcPf ,-J? 

40* 22ft Oorw 

“11 ills 



104 36 13 

23* 15ft Dallra k M 
15* 9* DamaoC 00 16 

X* 21ft DonaCP U0 09 
T* 5* Pqwtep 
15 8* Daniel .18b 10 

38* 23* P art*™ 

74 31 Datefln 

23 Tift Datpnl 
12* Bto DtaOM 

21ft 12ft Davep • 

45* 29* DayWd 

SS ll* gSrt!2- M51K 

<3* 43 DPL Pi 737 110 
40*’ 23* DBWFd 56 16 
33* 24* DPtna 160 JJ 
24* 17* DtemP IM 76 
•a* 27 -'DeitaAr 60 10 
78b 4* Deltona 
44* 2D* DUcChP M 22 

e r BSl-p. JSiS 

47* 48 DafEof 764 116 
55* 46* DetEpf 7M 116 
25* 19* DE PfF 2JS 189 
28* 20ft DEprR 364 116 
27* 19* DC PfQ 3-13 110 
37* 19ft gigP 
25* 20 DEplB IK 109 
29* 21* DC PfO 360 116 
29* 20* DEplM XO 12-1 
33* 24* OE PJL 460 126 
34* 24* DEpOC 4.12 126 
115 98* DEpfJ 1M»136 

HJB 84 DE Pll 1260 12J 
»* 13* D die pr 2M 116 
24 17* Dexter 60 36 

15* 9* DKtlor 64 16 
29* 21* DKMoPf IK 76 
21 15* DiamS 1J6 10.1 

X* 34* DlaSnpf 460 106 
59 33 DtebUJi 100 26 

125* 77V. Dhrffal ,, 

95 49* money 160 10 

28* 15 DEI. 

6* 3* Divraln 

11* 4ft Dome? .» 

31* 23 Dom» TT2 M 
21* 16 Donald 64 36 
61* X Danlav 
33* 23* Donor 
<2Vi 32* Dover 
34ft 23* OowCh 
51* 06* DowJn 

Uft II Draw 
23* 15* DreJ 
21ft Uft DrnxB 
66* 26ft Dreyfut 
61* 43* dugont — 

48 31 «uPnl pf IM 90 

SO 39* duPnlpf L» 96 
35ft 23ft DukeP J68 76 
as* «4ft DukBPt i» JW, 
88* 41 Dufcate aa IM 
tS* 57 Dukepf 760 106 
3J 21ft, Duka Pf 269 lft.1 
X a* Dump! 365 110 
S3* 57* OtmBrd 1» 26 
17* lift DvaU Up-JU 

Uft 15* Duq PtA IU 116 

17 12* DvqpJ 2M 110 

18ft 13* DWJPl 267 110 

im u . puapfo no m 

li UtoD^PrK 1U11J 
a w* Duo pr 201 ll J 
a* 22 Duqpr 
fl* 43ft Dwqpt 
14ft a* DveoPf 
a* 17ft DynAm 

» 94 19ft 18* Wft + ft 

374 lift Iffi IT* + S 
| 442 24ft 24* 24* — ft 
13 221 9ft 9ft 9ft 4 ft 

n jgr ssssia 

12 ^ tss S* %L + * 
JS JS iSt 1& xts 

15 2044 41* 41ft 41ft— ft 

- ar s& ir 

18 an 24 reft 26 +ft 

B * *58 % JS- a 

10 57 33* 33* 33* + ft 

- 1854 Uft 17 17ft— ft 

350x78* 77* 77ft 
300z 67 Mft A 4 ft 
3SDt M* 44* 64* 

7 25* 

r L7 

UO 3.1 13 
£tja 89 


00 19- 3 

64 26 

65 ‘ 

1.16 26 
1JD 3J 
62 2.1 
160 49 
08 10 
JO 36 
60 30 
100 M.1 
M 16 
360 56 

205 116 
760 126 
60 46 

a c 

, a" 25* 4 * 
25 27* 27ft 77*— * 

^ as* w Wb+R 


D 28* Mft 28* 4 ft 

5 s» ss gS + JS 

23 33ft 33ft J3W— ft 
11115 114*115 
| 105 105 105 41ft 

34 20* 19* a — ft 
12 122 22ft 21* 22ft + ft 

^ JS SJ&J&tg 


ia SO 38* 37* 38*4 * 
12 3778 TO2* 100* IWft-1* 
39 3642 90* 89* 90 +.* 

7 189 27* 25* 2»J-lft 

3 1B7 5ft 5* Sft 

1513 0* 7* 8ft 4 * 
9 2127 3Zft 32* 32* — * 
9 IM 18* 18* 18ft + * 
14 «6 £5 SS* J. u. 

M 101 XM + S 


22 ss ?aiatu+ft 

ll 21H 24* 23* 34 4 ft 

113 19ft 19* 19*-* 
16 17B 42* 61ft «1ft + ft 

» g£ as +1 

2 37* 37* WVS 

6 47* 47ft 47* + ft 
9 3381 3S* 35* reft- ft 

1538* 84ft ss* 5*-a 

soxa ft- a + ft 
iooz 74 a re — ft 

3 24ft 24ft 24ft 

12 34ft 34* 34ft 4 ft 
22 390 79* 78ft 79* + ft 

•■a®- rs.** 

2 M15* Eft + ft 

. - .19901 19* 19ft 19* + ft 
240x 24ft 24* 24* 

510Ql 60* 40 - M — ft 
13 472 15ft H* 15* +2* 
12 8 24* 24 24* 4 ft 

47* 33* GATXPf M® 6.1 

7$t «8 OCICO 160 16 11 
7 3* GEO 

12* S* GF CP 
■44* 37 GTE 


Mft X* Gorawlf L48 26 n 
X 18* GfBNnc JO 16 a 
17* 9* Caortit 

W ’Sft GofSlIC 

51* 31* GnOteP 1Mb SJ 50 

39* 22* Odum. 60 1.1 U 
X 21* GCnpfl 66 10 
J1 10* GoData 11 

84 50* OnDyn 160 10 9 

45* 48* Gan El 200 U 12 
83* S3 GnTdm 

7* 5* GOflIB 
9* 5* GnHira 

17 10ft G Hotex 
14ft 8* GnHora -j — 

3* S5 £Si b, 

85 44* GMOl 560r 70 4 

T«8Sf -l » B ii 

L54 16 55 

^itopSggl- «« 

7ft 3* GWtera , JJ 

21* 13* GnRad .10 0 re 

36V. is Ganteu 160 
X . 26* GonuPt 1.U S9 « 
27ft if* GaPac 60 U N 

37* 33ft GO PCP« 204 4.1 
34 30ft GaPC pfC204 66 
X 35ft OaPw pf 1640 59 
30ft TltoGaPwPj 1*4 n2 
31ft 25* GflPWPf 305 U6 
23* 17* GoPwte 264 116 
23ft 17 GaPwte 2M 110 
X* a* GoPwpf 205 10J 
36* an* GoraPd lx 30 n 
23* Uft GteU5* .12 0 13 

12* 8ft QtanlG 
12* A GlbrFn _ . I 
27 17* GIHHIII M 50 21 

63* 44* omatte 260 4.1 U 
14* 11* OteoxC 
Uft 6* OleaFd 4 






I* ojabiM 


5ft GMlMpfl. 

I* GtON oo 

1ft GMNWt _ . , 

12 GMWF 00 6 7 

„ 24* Gdrtdi * U 

Xft 23 GoodYf IM 56 1 
18ft 13ft GortnJ M 3.1 X 
32ft 1* OOted M 23 68 
44* 38* Grora 260 40 U 

StS^SSK* 6.23! 

18* Uft OlAtPC 
54* 27* GtLktn 
21* 15 GNlrn 
40* 31* GtNNk 
29ft 17ft OfWFln 
70 12ft GMP_ 

27ft 42ft CraanT 
30ft 18* Greyh — - — 

49 37* Grevti Dl 405 9.9 

4ft 2* Groller J 

13ft 9 GrawGs JO 20 15 

Uft 4ft GniOEl 68 J U 

33* 24 Grumn 160 U 9 
V 24* Granite 260 106 

8* 4ft GfwM -U H S 

27* X Gullfrd 68 26 10 
fl 25* GlfWte M 20 12 
Wft lift GalfR* , « “ 14 
»* 14* GuRRPf }60 ,06 , 

If* 10 CffSHif 164 106 7 

54 39 GKSU Pf 0M.J26 

32ft 24 GKSU pr 363 12.1 
M* a* GKSU W 460 12J 
X 5Sft GHSU Pf 660 106 
18ft Uft GA8T0 63# *6 31 
If* M Gullan 60 U 11 

275 33* 
1W 32 

1 41 

568 19ft 
404 73* 
331 3* 

131 7ft 

2474 42ft 

2 26ft 
91 24ft 
10 Sft 

721 44 
42 28ft 
218 9* 

176 X 
87 10* 
101 lift 
289 44* 
133 18ft 
2* 45* 
555 38* 

5 X* 
*M M 
462 79* 

5844 42ft 
542 82 
It 4ft 
42 4* 

28D 15* 
93 10ft 
977 17ft 
171 5" 40 
4794 49ft 
1581 43ft 

6 flft 
3 55* 

93 5* 

493 14ft 
.543 89* 
406 11 
293 44ft 

33 4 

292 15ft 
1*0 26 
247 21ft 
2793 24ft 
1 33 
i 34ft 
401 28ft 

34 29* 
1 38* 

20 33 
17 21ft 

21 25* 
755 Wft 
473 18ft 

87 lift 
1847 18ft 
886 23ft 
503 43* 
184 13 * 
447 Uft 
1997 2* 

UO 1.9 li 

UB5P1B3 7 
1-52 23 13 
68 3.1 9 

102 M 9 

100 42 11 

1204 12ft 
12k 2ft 
2090 34ft 
431 31ft 
5809 28ft 
777 25ft 
306 42 
330 35* 
198 20ft 
310 16* 

a si* 

57 17* 
152* 39ft 
3037 *ft 
51 19* 
875 28 
887 28ft 
319 4* 
ass it* 

149 9ft 
537 21ft 
10 27ft 

48 5* 

49 24ft 
1819 39* 

300 14* 
3 30ft 
1375 IS* 
5 54 
8 »9b 
12 35ft 
MB 84* 
309 lift 
a l<* 

a a — * 

30* 32 +1* 

41 41 

19ft 19ft 4 * 

33 73*— ft 

3* 3* + * 
4* 7*4* 
42* 42*4* 
2ift 26ft 
24* 24* 

3* 3* 

AS 45ft 
27ft 28ft 4 * 
9* 9* 

20ft 32 +!* 

10* 10ft + ft 
ii* n* „ 

45* «*— ft 
U* 18* 4 * 
44ft 45ft + « 
37* 77*— ft 
X* X* 4 .* 
13* 14 +1 

79ft 7gk— ft 
62* 62* + ft 
81 81 —1 
4ft 4ft 
4* 4*— * 

15ft 15ft- * 

10 10ft 4 ft 
17* 17* 

59* 60 4 * 

68* 49* 4 * 


^^4 ft 
U* Mft 
87* 87ft— 3ft 
10* 11 + * 
45* 44 — * 
12* Uft 4 ft 
lift 81ft— ft 
3ft Jft— ft 
15* Uft 

25ft a 

31* 31* 4 * 
24* 24* 

37 37 

34ft Mft 4 * 

28* 28ft— ft 
X* 28ft— * 
30* 38*- ft 
22* 22*— * 
21* 21*— * 
25* 25* . 

35* 35ft 4 * 
17* 18* 

11* lift _ 

TOft 10*— ft 

a* 22ft 4 ft 
62* flft + * 
13 13* 4 ft 

13* Uft , ,, 
2ft 2* 4 ft 
7 I +lft 
11* 12 — ft 
2* 2*— ft 
32* 34* +1 
30ft 31ft 4 * 
28* 28ft 4 * 
lift 16* 4 ft 
23 25* 

41ft 41ft 4 * 
32* 33 
X 20* + * 
IM 14* _ 

51 51ft 4 * 
17ft 17* 4 * 
SB* X 
27* 28ft 4 ft 
10 19* 4 * 

27ft 27* + ft 
28ft 28ft— M 
48 41 

4* 6ft— ft 
lift lift—* 
9ft 9ft 
30* 31* + ft 
27 27 4 ft 

5ft 5* 

34ft 25ft 4 * 
39V. >9*4* 
13ft U* 4 * 
30ft aoft + * 

15* 15ft— ft 
3* St +1 
31ft 31ft— * 
a 15V. 4 * 
•4* 84*— ft 
18ft 18ft 
14* 14* 4 * 

' 2X 

60 12 1*98 

104 56 U X 

5* 44 IntPopr 260 40 59 3507 
17* 9V. InlRCI 

*• « K 464 p 

_s*!KS&?fl 53 is 

19* W* tnlBokr U 

22ft 14 ItetePw 1.90 84 10 
22 17* InPw pl 730 106 

21ft 15ft lawoEl IM l’ Ig 
35 22* ID— !IG 174 76 8 

37* 25* IOW(lR> S68 86 J 
40 27* I PO Ira 364 74 10 

Uft »ft IPCoCP 04 25 14 
40* 35 irvBnk 164 J.J 7 
n 42* irvflkte ilia 90 

ift 8* Bft 4 W 

5ft 5* Sft 4 * 

i‘£i 1 

43* 42* 43* 41* 

70 x MercSI 
117* 78* Merck 
80 43* Merdhi 

36* 22 Marum 
3* 1* MMOOI 

22 13* MBiaPI 

M 28ft MesaR 

4?* 65ft Ml E PIG JM’i|6 

21ft 17 MhCnte 265 94 
18ft U* BKhER 160 70 11 
7* .4* MlCkUnr 
55* 34ft MMeen 
15ft 10*4 Muaut 
22ft IS* MM Has 

Sftgsrs. lx 70 9 

15* 4 Mlsnira 


33* 16* MOMWC 

145 54ft 54 S4ft— * 

« Mft 29* 38ft +1 

246 44* 45* 44 4 * 

„ .. 119 44* 44* 44* + * 

17 17 3442 117*114*117 4 * 

16 16 99 71ft 70* 71* 41* 

1131 Uft 14* Uft— * 
22 33 33 33 

1013 7* tft 7ft 4 * 

JKii to £ =5 

79 18* 17* 18* 4 * 
490 fl* 44 45*- * 

ro «* IT 1 ’ + J“ 

64 U M 
204 SJ ■ 
108 121 5 

IX 56 


ISO 40 13 47X »* 2J? 0“*^ + 


34fi 34* X* ♦ *1 

intNrth 76. M n « Bl* +5* 

50X88* Uft 88* 1 

45 42* fl* «*— *. 
84 19 18* 19 4 M| 

49 32ft “ 

2701 21* 

371 31* 

200 3£b 
68 35* 

337 >9* 

140 13* 

20ft 31* 4 * 

_ ,.„® £*• 
62 »ft 39* WJ + J* 
774 53ft S3 53*—* 


35ft a JWTs 
35 23ft JRIvtr 
28* 14 Jnmwn 
13ft 10* J OPnF 
46* 36* Jatffll 
66 48 JteCPf 

18ft 13* JarCef 2.18 126 
12* 4 JteW 
49* X JohnJn 
44* 37* JohnCn 

37 35* 35* 3B4— * 
829 35 34* 34* 4 * 

145 37 36* 2**— * 

194 11* lift II* + S 
402 47* 45 47* +1* 

30X 44 44 44 — 1*. 

15Dx 63ft 43* 43ft + * 
1U105 105 105 41 

13 U* 18* 18* 4 ft 
_ 6 13* l5 13* 4 ft 

IX 20 16 3 ** 5 L W 

1640 46 9 333 4» 42 flft 

1.12 3L2 19 
J4 16 11 
.n J u 
102 30 7 
8U 120 
768 126 


Sft 21* Jarpen 160 if 17 ^ ^ + l(t 

8S iaaSM .3 8 B SS.”5»rt 

9* 7* KDI 
20* 9* KLM. 
fl* 33* KMIte 
41ft 29* Kmart 

00 22 12 7X *£ .SJ* ,SS + * 
jam 2A 9 527 19* 19* 19* 

460 100 292 42* 41* fl — * 

l^o 36 10 4902 37* 36* X 
40* X KN Ena 168 3.9 14 
14* 12* ICatpAI .131 
43 53 KWflPf AM 80 

ski * 

Uft 14* KCPLof UO 100 
55* 34* KCSOU 160 L9 9 
19* 13* KOllOE 206 126 
41ft 29* KanPLl 266 70 1 
23ft 18* Kajn.Pl 2fl J.9 

23 17* KaPLte 203 96 

45 O* Katvln 

20 10ft KautBr 

18* 12* Kauf pf 
88 70ft Kate te 
40 299b KalieSD 

38* 72 KBUwd 

2* * Kraal 

24 19* Kamil 

29* 21 KyUJK ^ 

Mft 9ft KPfTGI M U 
26* 17* K»rG Pf 100 8.9 
33ft 26* KerrMe 1.18 U 39 
31* 17ft KevBk IX 40 9 

4ft 7* KwCon 

a 1 ,? 

Sft!T£& ^ SI ^ 

22* 17 Kopers 60 46 X 
104 94ft KOPW PflO-OO 90 
14* 13* K orea n SX 36 
44 3ZV7 Kroocr 260 *6 II 
32 25 Kutoata 69 b 16 33 

24* 7U KuMma J* 

47* 30* Kvorar 0X 16 16 

21 Vi 14* Kvsor X 41 7 

60 20 5 
ix as 
80S 106 
106 36 U 
IX 30 7 

JO 30 <5 

S* Tan ManCa* 1651 

IW> lfll JWtortTCfl -B0 4A 3ft 'i b*xl CML S7H +2H 

hv £ ss 

’sr iji iS’S’ss^+ft 

21** 12* Moore. .02 36 l| lfl 

1 52 3** 38* 38*— ft 

iS ?s » ats 

,0 10 7*4^30*2^X16 4* 
18 4* 4* 4* 4* 4 ft 

»■* « » ^ ^5“ * 

12 300 13* 51* 53ft +2ft 

71 17* 

+. ft 

..*• 12* Moore » 02 
2k* 18* MOOTM 164 
31 24 MorMte 2-M 

54* Uft Moroni 200 
flft 24* MnrKnd 168 
4 18* MoraaS J» 

!l 13 MIPRIV 10*8 80 11 
23ft Morton. -M 

'** 9* 9ft 4 ft 

21ft M* 21* + ft- 

— T! iS* ?£2 

40 ■ 1350 52 51* 5Ufc 
X5 10 38* 43* 41* 43* +1 
36 U 

flft 29* Motor la 
26* 19* Mutent 
14ft 7* Muraas 
Mft 23* MureO 
23ft 14* MurrvO 
Uft lift MuiOm 

W* IM MyerL 

10 f 494 34* Mft 

04 20 

® JS S 

36 11 
Ll 11 

72 Uft U* 

80 X 27* 

48 If* 19* 19* + * 
95 14* 14* 14*4* 
43 2* Jft 3* 





311 37* 36* JJ* + ft 

"*5 T 


<29 8* 8ft ,8*4* 

401 24ft 24 Xft — *1 
ITIftz 39* 3S 39* 
n is 39ft 39 33i + '‘ 

21 20* 38* 20* 

W Sft 

3758 18* 10* 1®« . , 
ISO 40ft 40 V" 40* 4 ft 

ID re* 2*» + s 

4 22* 22ft 22ft— * 

237 14ft 15* 14* 4 * 

ISO 17ft 17* 17ft— * 

3 17* 17ft 17ft + * 

8 85 04 84* 

414 40 S?ft 99*— * 

“ “* “ft “* 

*, .* 214 21* 31 21ft 4 * 

“ ^ ^ ^4* 

MS 29ft X* 29ft 4 ft 

3$2 + S 
18 2* 3* ,2ft— * 
IU 14ft 14* 14ft— ft 

407 XV. 35* 34ft + ft 

204 58* 58 «* + ^ 

38* — ft 
„ 28* 4 ft 

108 17ft 14* Uft— * 
794 18ft 17ft lift + ft 
3 103 103* 103 — * 

241 15ft 15* L5*— ft 

731 43* flft «* 4 ft 

2 ft SI 4 -u. 

23 22V 73* — ft 

33* 33 33ft + ft 

19ft 19* 19ft 

21* 14* NAFCO 160 
34ft 20ft NBDs Lfl 
31V. 13ft NBI 
22* 17* NCM 
flft 24ft NCNB 

Mft 20* NCR _ 

Uft 9* NLind 
34ft 27 NUI 
1ft * NVF 
55* 33* NWA^, 

B3ft 43* NabtcB 268 
BJft 82ft NaUB WO 
28ft 21* NulCO IX 
29ft 21ft Na«nn 
18* 10* NTOrv • 04 

34* 22ft NteDlte 2X 
20 lift NalEShi 
30* X NalFGi IM 
48ft 28 NolGVP 260 
4ft 211 NIHom „ 

33* 23* Nil 
45 52* Nil Pf 

32* 17* NMfdE 
11* 6* N MlneS 
29 22* Nmrate 164 19 U 

14* 9* NtSeml J* 

31 22* NUvcIn 1» “ J* 

18 11* N Stand 60 26 15 

13 io Marean 64. 55 7 

33* 23* NoyPw 284 86 10 

19 14* NawPte I6iu 

12ft 8* Ngrtai ,-S H ! 
44* 31* MEnpEI 360 73 7 
27ft 21ft NEnPOf 2.74 100 

29 22* NJR.C 330 76 10 

29 Vi 14* NYSEG 254 90 7 
74ft 55* NYSte 880 110 
27 X NYSpfAlfl.120 

MHi UU NVSrt 2.U 100 
19 13V. Nratell 00 18 J1 

59* 32* Nmanal 10.U 17.9 27 
II lift NbwWI 160*10.! 5 
9ft 7ft NwhlRx 202»3i5 ■ 
44ft 31 Newiril IX 20 42 
3* 1ft NwpwJi 
21* 13* NIOMP 
31 22 NlaMte 

32% 23* NlaMte 
IS* 15 NlaoSh 
18* 10ft Nlralet 
33ft 24ft NICOR 
IB 12* NoWAf --- 
71ft 48* NOTfkSa 360 
30* 8* Norlln 

50 18 30 19* I* !•* + * 

38 7 485 34ft X* 34ft 4 * 
13 S 19ft 19* 19* + ft 
33 14 98 21* 21ft 21* 

36 10 404 44* 44 44ft 4 * 
26 11 10311 35V. Mft Mft +1* 
10 1104 11* lift II* * * 

2X 46 9 X 3^ 34* 35^4^ 





19* 22* LN Ho 2X806 10 
17* 12ft LLE RT 2008150 
4* 1* LLCCP 

13V, 7 LTV 

If lift LTVA 

55 41 LTV Pf 

25ft IS* LTVpf 

49 41 LTV pi 

18ft 10* LTV Pf 
17 10* LQulnl 

39* 14ft LOdGi 

io* 5* Urforaa — — 

27* 23 Lofropl 26* \\ „ 

Uft Bft Lomurs 34 25 12 

4* 1ft LamSn iw 

14* 18ft Lawtlnl M 47 15 

25Ui 13 LenrPT JO W H 

28* 20* L«j£^ ’H „ 

57* 79* UOrta 260 15 11 


44 22* LMEnl 32 2.1 21 74 44ft fl* Wl T « 

- - x 1.1 24 

AS 2.1 18 

63t 30 

364 146 
505 110 
IX 96 n 

100 7.1 7 
X 25 

44 29* 78* 29ft + ft 
30 13ft 13* U* 

29 1* 1ft lft 

12827 8* B* Bft 4 * 

2 13 13 13 4 * 

3 44 fl 44 +2* 

1122 18ft 17* 18* +1* 

156 45* 44* 45* +1* 
345 U 12* 13 4* 

|9 14ft If* If* 

43 2* Oft 24 

25 a* s a — ft 

6 25 25 25 

IX 9* 9* ** + ft 

72 3* 3V. 3*8 

MJ 12 U* T2 +.* 
103 14 13ft 13ft , , 
23 24* 24* 24* 4 ft 
383 57ft 57 57ft +1 
390 18ft 17* 18 4 * 


3*. BanotB 
- 3ft Berkwr 
15 10* BeSPd 

21* -14* BaUSH ~ — 

49* 37* BeKlStpfSX 106 
24* IF* BettiSf pf 2J0 ,1M 
40* 23* Beverly X J » 

26ft 19* BftTltr X 18 W 

2* 13* Bluett n ,• fS S! 5S 5b 

24* -17* Block D 64 3.1 14 3422 20* »* »■ 

34* 21* BkfcHP IX. 50 9 » M* WJ- * 

38ft Uft'-BMrJfl » » J IW W* 19 Uft 

58* 38* BickHR 260 4.1 IS JM M* g* 

58* SI* Boefnps IX “ « m 1* S2 Sft- * 

5BU JM BobeC 1J0 H 7\ 5« 4m W{ ■ 

41 fl iSteC-teSX 15 25 SWi Mft 50- * 

2WI 15* BoftBer -.18 A » “ St- 2* a — * 

42* X lenMl IX 36 n IMS 40% »* * — " 

24* 15* BcraWa .92 40 JO *10 2Ub 22 

9* 4ft Bormra 10 U0 »* •* tw * « 

Fwar 3 *« 5 aRSi« 

Sft 14* OalAlk* -J — 
34* Uft COJM0* ,*ln 
29* 24* COlPtn IX All 
f VS ML Cnfllnd 2JD -U 

g* SS cteGra M8 log 

??.. S? CteGBPf 5.12 106 

Cil£S ! S 

51. 5* Combi ? 2.16 «6 

X U 11 


“ IM 27* 27* 27* 4 ft 

9 TO SS 41* 8** 


t Sft hk~* 

J77 49ft 48» 49* 

|*ES 1 Sfi 1 ilsR*s 

33* Bft Comdro 
32* 23ft Cmwe 

U* 13 S*£2 

18* 13ft CwEPj 
IM » 

3M 96 
MO 11.1 
- _ B _. 2X U6 
CwE Pt 1100 U6 

3 8090 W* ’J' 1 ''’'* 

7 1530 32* 31ft 32 — * 

■ 2* 17ft 17 17* + * 

5 II* 11* If* 

500x104 IM IM 

42* 28* BCG X U 
17ft 16 EOKn 104 76 
32ft 22* ESril X 10 
28ft 20 EOOtte* 16* 46 
20* 12 Una At 22 
10 .3* EaslAJ r 

4* ,1ft EALWfO 

lft . * EALwtA 

22ft 4* SiAlrpf 1.1» 
24* Aft BAlTDfB 160k 
27ft 9ft EAfrpfC 
2Mb 21* EoteGF IX S0 
23* 13* EateUtl 266 60 
32 41ft EsKads 2X 40 
Uft 41ft Eaton 160 26 

30* 20* E child X 15 
32* X Eckerd IX 36 
32* 24ft EOLsBr IX 4.9 
18* TM* EDO 0* 10 
34* 19* Edward M 26 
31H 19* CFG ate 2J5 96 
2» 24* EPGte 305 120 

29ft 25ft BPGpr , 

19ft 9* Erroro 62* .1 
im a* cicor as an 
5* 7ft EMMAS 

* K 

15 I486 
B 75 


12 3150 
- 75 





79 1710 

a -ire 

13 4929 
7 538 

12 619 

13 4270 
12 2943 

12 TOO 

14 184 




16 X 
. 161 


42ft 41* 
UU lfl* 
29ft 28* 
72 21ft 
,19ft If* 
9* 9ft 
3* 3* 
lft 1* 
22ft 22 
24* 24* 
27ft 27* 
23 22* 

23ft 22* 
45ft flft 
54* SJft 
25* 25 
27* 24ft 
32* X 
16* Ik* 
03* 32ft 
24* 24ft 
29ft 29* 
29ft 29 
17ft. 17ft 
lift 10* 
4* 4 

41ft— ft 
U* 4 * 

21*— * 

9* 4 * 
3*— * 

22ft 4 * 
2491 + ft 
27ft— ft 
73 4 * 

23ft + ft 
4k* 4 * 
53ft— 1* 
15ft- * 
27* 4 ft 
32* , 

lk*— ft 
29*— M 
29ft 4 * 
17* 4 * 
11* 41 



















2 * 













im Hflga H2 K ■■ 

25ft Hoi Mil IX 63 10 
* Halted X 56 17 
Sft Halwdte .54 53 
25ft HumP* JX 19 13 
lift HOllJS 1670180 

164c 80 
44 12 IS 
M 36 TO 
60 M 25 
IX 16 U 
X 10 g 

lift HonJl 
T4* Handli 
U* HandH 
lift Hanna 
27* HarBrJ 
19ft Harbidi 
7ft Homtth 
25 Horn pl BOX U5 
24* Horn pIC 2.13 70 
18 HraRw X 26 U 
23 HartW M 36 13 
IM HarGrn 7 

20 Horace 1JJ 46 12 
34ft Hdrtjiw IX 3A 11 
U HdttSa 180 186 11 
15ft Hawd 

22* Hozwm 
9* Hazkob 
. 13ft HlttiAm 

21 HHCrPft 

10ft MHUSA 
9ft HMks. 

13% HaOAM 
16* HeDmn 
15* Hell* 

164 46 11 
■30026 9 
X 10 17 
X 16 n 

as 16 

X 10239 
X 26 11 
X 10 M 

1497 30* 
2944 28ft 

klfi 1* 
41 10* 
234 34ft 
41 U* 
9! 21* 
374 24 
245 19% 
199 20 
2U 44* 
234 34* 
1577 W 
lfl 25ft 
542 29ft 
78 31* 

871 29ft 

41 Uft 
233 29 
297 37* 
4 17 
174 25ft 
178 10ft 
98 30* 
' 47 13ft 
1043 re* 

a re 

47 20* 
270 14* 
233 14* 
499 20* 

30ft 30* 4* 
2B* 2Mb + ft 
lft 1ft , , 
10* 10* + ft 
34* 34* 

16ft 14ft , 
20ft 01*4* 
25* 25*—* 
18* 19ft 4 ft 
18* 20 +1U 

43ft 44* +1ft 
32ft 33ft— ft 
11* 12 4 ft 
25 25ft 
2M 29ft 4 * 
31* 31* 

28* 29ft 4 ft 
UU Uft 
28* 29 4 * 

37* 37ft— * 
17 H 4 ft 
24* 25 — ft 
10* 10ft 4 ft 
29ft JOft + * 
U Uft 
22ft 23 +* 

22ft 21ft— ft 
20 20*— ft 

14* 14* 4 ft 
15* 14ft 4 ft 
Wft 20ft + * 

» 29ft 4 * 

18* 9 LBBMra 
25* 14* LeaPtat 
4% 2* UftVOl 
33 24* LVIn te 

Uft 13* Lahmn 
15* 9* Lennar 
24ft ID* LoucNts 
48 ZS LevfSt 
50* 42U LOF 

125 18% 18 ]>* 

76 21* 23 2J%- % 

510 3 2ft 3 
10 29* 29* 29* 4 * 

405 UU IS 15% + % 

Tot 14 11* 14 + * 

84 2D 19* 20 4 ft 

1 JS 36 2k 1841 48ft 47ft fl* + * 

IX 26 8 132 47* 44* 67* + * 

1X8106 .. 
X 16 U 

79* «* LOFrt <2 as 7 Wb re* 4 * 

32% 22ft LttltvCp H IS -M 'St Sw Mft + % 

«m n lJIIv 1W li 13 382 8W B8V» Uj* + * 

s& Sft \sgo 4 g |1 Sha 

SS g*fcSSSS iS d 3 ’S b ^^±1 

3* 16ft LonvMI » 264 86 11 
■ 4* 2 LamMwf 
reu 17* UlSIar 1.90 70 6 
Si* fl LanoSpI SJ7 105 
9% 3* LILCo 

33 It LIL teg 
27 14* ULPfE 

44% 35 ElLPfl 
flft 71* LIL DjJ 
48 23ft LIL P<K 
32* 9 LILDDf 
22ft 9% LILpfW 
23ft 9* LILPJV 
24* 11% LIL pfU 
21* tft LIL pH 
14ft 7ft LIL pm 
If* Bft LILteO 

138 28* 27* 7f* * % 
231 4 3ft f + % 

201 M* M* Mft- ft 
“ *9 9lS + % 

„ re 27 +1* 

44* 44* 44* + * 

47 fl 47 +1 

<8 fl 48 +1* 

a, 23% re* re* 4 ft 

17 a* »% 2i* + * 

<2 a* rev. re* +1* 

4B 27% 24* 27% + ft 

49 lift 2Mb 21ft 4 ft 

74 14* 14% ]4% + J 

3 Hft 18* 18*— * 

3 6034 
500* 27 
1 44 
. 2flz« 
81 “ 

307 Vy ft .... 
16 23 844 SS* 5*» »b +1 
13 14 1572 83% 83 83* 

590 83% 83% 8J* 

46 13 33. 24 25* 24 4 * 

7 38 24% 24* 2k% + * 

26 14 278 12* 12* 1»* 

LA 3fl 587 34* XI* 34% 4 ft 
14 307 17% 17* 17* 4 % 

70 7 fl 28* 28ft 2Mb + * 
4J 7 419 47* 44ft 4«b 

■0 4% 4* 4% 4 ft 

*3 70 aoflftjjft-ftig 
■“ 1JUW 1 2 K: W B* a K4!J 

40 37* 27 27* 4 ft 

3144 13* 13% 13* 
jS 30* 30* 30* 4 % 

113 15* 14* 15*— * 
16 lift II* 11*- % 

IDS 33 32* 32*— * 

2 Uft 18* lift- * 
88 11 10* 10*- ft 

104 45ft 45* 45ft— ft 
5 24% 24% 24%—% 
13 28% 27ft 28ft 4 ft 
991 27ft 27 re*— % 

SJ£ 2*iiS 

23 54* 54 54* + * 

15 17* 17* 17* . „ 
71 I* 8* Mk 4 % 
745 fl 45* 44 

114 1H lft lft 
3JB 90 7 4503 21* 21% 21* 

X40 IU 200* 32* 32* 33* +1* 

360 116 150l 31 31 31 

1 95el20 77 15* 15ft 15* 

.12 5 20 2TO H* WJ H* . „ 

3JM M fl2 30ft 30ft 30ft 4 % 

.12b 3 40 274 M Uft U 4 * 

4J 9 374 72* 71* 72ft 4 ft 

flft 30 Hotter 260 5.1 10 W fl* + * 

S n K 0 “ 6 S?t*S 5S! + S 
£ Sft K, IX 16 7 re ss S* t * 

ssl ?§* s, iS ,3 sS£S=E 

!S* Uft !3 ig ? JS LK IK- * 

51* 34* NoStPw 352 76 

43 32* NSPte J1J 9-9 

flft $3 NSPwte 760 105 

42% 31% NorTel X 

4* 2* Nthouto 

916 si* » SOJft. — 1 

30x 43 42 42 —1 

260* 48% fl* 44* 

737 39* 38* 39 4 % 

iS 2& nSSS! IX 20 11 1454 54* Hft & 

SB56HSPB tSSS -15 ?S5t 

LS SB isEi&rSft + S 

AD7e116 <10 55% 55% 55% + % 

ike S H 213 34* 34* 34% 

60 3 13 1401 46 45 4flb- ft 

mu 725 Jft 3* Mb— * 

70 B 4338 B9 87* IT*- % 

lk* « Nw5tW 
38* 30% Norton 
29* 21* Norwte 
57 48* Nwstte 

50% 20* Novo 
fl 27 Nucor 
8* 3 NutrtS __ 
92 43* NYNEX 460 

ul ill Qoklnd 1615 lft 1% 1%— * 

aT 24 oSlwP 153 40 U » M% 34 34% + % 

34ft 23* OcclPel 250 70 10 
34% 20V, OcdP pt 250 106 
21* 17* OcdP pf 2.12 106 
57 48ft OcdP Pi 425 110 
113 105ft OedPtelEfg 140 
109 101% Oedte 1*63 135 
33* X ODECO IX 40 15 
33 24* Oodten IX S3 % 

14 9* OhloEd IX 110 4 

3k 24 OtlEapf 460 125 

3*1 41 OhEdte 734 120 
42ft 43 OhEdte 706 U.1 
39* 18% OnEdPf 150 JU 

31* 21 OhEdpr 301 120 

14% 11* OflEdte IX 116 

71 51 OKEdte 9.12 JM 

70 47* OhEdte 804 126 

17% 11% OPMOtr X 30 14 

70 54* OhPte 804 110 

MM OktoGE 200 ^ 11 ISM 25~ Mft 24*- ft 

im if* oiiirtda 8 X LB 9 1* 13% 13* Uft + W 

Si H* ONEOK 254 70 11 749 32* 32 33% - %, 

S onwiRk 2J4 76 18 155 28* 27* 18* + to. 

V ~ 'SJ il 19 118 Iff* Iff* 10* 

$49 32ft 31* 31* + ft 

4 21ft 23* 23*— % 

6 21* 11% 21%— ft. 

32 55% 54* 55* 4 ft, 

S49 109* 109ft 109*—% 

5 108* HB% 108* 4 * 

874 21 20* 20ft- %■ 

B9S 33* 32* 33* 41ft 

1381 14 15ft 14 
1181 35% 38* 35* 4 ft 
330ta 58ft 58 »ft + ft' 
an 41 *i *i — ft 
31 28ft 27* 28 
34 Hft 28* 30ft 4% 

18 15ft 15* Tift-* 

200x 71 70* 70* — to- 

HOT U* 47* 48* 41 . 
X 12* 12ft 12* + » 
SOOT 41* 41* 48*- ft' 

19 21% 21 21% 4 * 

Wft "7ft Oteiae' 031 5.1 19 
28* 19* OrtonC 04 U 
aft B’.b OrtoTP n 

9* 4* Orion te JO 40 
33* 24 Ort rate 205 90 
31* 18* DultsdM 64 22 10 

118 10* 1IM 10* 

109 27* 27 27% 4 %' 

443 II* 10* 11 +*. 

5 8 7ft 8 4 ft 
44 29ft 29ft 29* . 

307 23* a% 23* 4 *1 

35* ii* OvraTr" SHJJ SI + 

19 13 (WStiP SO 2Jf 12 901 179fc Im* 17^0 + W 

re 25* OwwnC IX 19 9 1058 35* 34 35* +1*. 

OT* U* owenlll IX 30 10 744 48ft fl 48*— ft 

1$ 10* OteSd 64 il 22 HU 13* 14 + W 

37* 18* PHH IX » « }t0 ^ W 

(Continued on Page 8) 





Tobies include the notionwide prices 
UP to the Closing on Walt Street 
and do not reflect late trades elsewhere. 

I? Vanin 
h«lL« Slack 

Sis Dow 

UbHKDLM Quai Qi'at 

i 1?'; PnmcC 
i IB* Prirruvi& &> 3 

i *>:« PreetC 240 4.4 
7X PrdRsn OS 20 
32 7 a P ruler 1.40 3J 
17 PSvCiif 200 9.1 
S3 PSCol Pf 7.15 10.4 
16'* PSCol pi 210 100 
»■» PSlmJ 100 108 
20 PSInpl 3 JO 13.9 
A PSInaf 1.04 11.9 
OX PSlnef 1JB 119 
37 PSInpl 7 IS lU 
SI PSInpl 9jU 12A 
45 PSinpf 882 1«X 
43': PSInpl 8JS IO 
47'-3 PSInpl 8.96 142 
J'.l PSvNH 
71 PNHplB 
lO'o PNHplC 
71. PNHPlF 
»9«* ps»nm zee im 
21^« PSwEG 284 93 
101 PSEGor 140 108 
28% PSECpI 4-18 102 
3D PSEGpl 400 107 
36 PSEGpl 528 108 
15 PSEGpl 117 118 
17 PSEGpl 243 toe 
96 PSEGpl 1205 IIJ 
7*a Public* 

91* Purblo .14 l.l 
6 PR Cam 
10% PmwIP 176 11.1 
HU PuItoHm .12 3 

22 Vt Purolol 1 SB SJ 
SVS Pyro 

15 1772 101 191. 19!»- 

28 447 31% 31 31U 

14 3844 5S*i 57% 58(h 

23 238 18 171 171. - 

13 28 411% 41*9 41*9 

9 618 a2V> 21»b 22 - 

107 611 63 P: 66!l • 

3 21 21 21 - 

ip ok io 979 » 

600x 251. 25% 25% - 
3502 8% SX BX 
300* 8% 8H «%- 
ISOz 514. Sit 51 % - 

504 6911 tflVl 69V, - 

10*61 61 61 ■ 

lIOz 59 59 59 

200* 6351 63 63 • 

3 990 7% 7 7% 

4002 141: 146} 141 • 

22 1519 151 151 

U » 22 22 

191 20 
17% IB 
171* 18 
SfiVj 28% - 

8 1924 31% 311 311 

1 14 14 14 

2100* 39 38% 38% 

3400* 401 39 401 

1940*49 49 49 

21 19% 191 19% 

3 221 221 231. 
SOzIOil 1081 1081 
49 3% 31 21 

22 88 Ml 141 741 

5 ID 61 6% A'm- 

9 2603x16 151 151 • 

23 13B4 18% 171 18 

17 364 231 231 23% - 

8 367 8X 81 8% ■ 

S3 291 Quotes 124 24 M 671 511 511 511 + 1 

103 901 OuoO Pf 9J4 9 A 200*102 102 102 +1 

331 15 QuokSO 80 1427 805 3312213314-1 
101 6% Quonrx 23 420 9 BX 9 + % 

34% 23 Owes Tor 740 S3 ID 161 31% 311 311 4 1 

25% 14 QkRell 24a .9 17 288 241 241 261 411 


9% 91 
57 57 

91 91 
77% 77% 
691 71 
591 981 581 
57 57 57 

20% 30 20% 

BSV. S31 85% 
251 25 25% 
































•48 U 

1JOO 38 
180 18 
174 48 
982a 9A 
104 48 

A U 

.72 U 
80 28 
ShClIT 2J7e 6.1 
StwIGI 80 19 
Shrwln St 28 






381 251 
475 3M 
198 271 
237 391 
jos <3% 

24 (31 
668 40% 
20 331 
67 131 
3B 26% 
182 81 


16% 161— % 
16% 161 + 1 
311 23 4- % 

41 41— M 
411 421 + 1 
Mb 17M4U 
3916 + 1 
3d + 1 
641 4- 1 

39 261 

57% 52 
341 25 
47% 86% 



29 — % 
Ml- 1 
13% + 1 
251 + 1 

3M6 + % 

39 + % 


79% — 1 
381 + 1 
14% — 1 
341 + 1 

311 331 
61 71 
261 35% 
221 22% 
261 361 
411 411 
48 49 

2d 361 



31 21 
20% 14% 
111 91 
3«% 24 
23 15% 

34 36% 

45% 3d 
39 24 

53W 361 
11% 15% 

7% 31 



31% 3d 
13% 13%' 

































1 JO 














828 29 
33 49 
<75 50% 

ioa ioe% 

265 Id 
892 4% 


1359 3d 
1040 221 

330 40 
73 291 

824 471 
208 M 
128 141 
87 221 

.3 —5, 
3d- 1 
71— 1 

371 + !6 
54h + V* 
129> + Vi 
991 + 1 
371 + % 
111 - 1 

<jv« +r% 
371 + 1 
24V* + % 
IWk + 1 
361 + 1 
30% + % 
361 + % 
33% + 1 
28 + % 
lid + 1 

40 — % 

331- % 
id— i 
261— % 
371— 1 
2J — % 
m* + 1 

fd-9 1 

a + w 

}8% + if 


w + » 
lift + >5 

71 71 

31 21 
SI 321 
33% 34 
31 J% 

3(1 Ml 
32 lifts 
131 Id 
341 341 
61 61 
13% 131 
35 35% 

391 401 
391 291 

41 2T% 

14% 51 
25 14 

41 2% 
28% 19 
3% 2% 
461 36% 

1! 31 

111 9 
511 28 
471 361 
721 54 
83 63 

91% 69 
73 55 

«B 51 
7IH 53 
27% 111 
451 281 
83 61% 

VP Core 

volmr In 
von Dm 














M I 15 
80 3.1 36 
80 38 13 

M 18 22 
580 KLS 
772 108 
184 iao 
985 108 
772 108 
780 106 
7 AS 108 



280 13 13 

739 40% 
768 13% 
21 24% 
39 21 
56 241 
183 31 

3434 31% 
405 13% 
120 191 
2U 111 
39 111 
691 49% 
390* 471 
200* 731 
30* 891 
1620* 71% 
400* 68% 
II 361 
» 43% 
62 Bd 

391 40% + 1 
131 13% 

241 241 
21 31 
341 »X 
3% 3% + 1 

301 31% + 1 
121 13 — 1 
191 191 + % 
111 111 + 1 
m id— i 

48% 40% + 1 
46 471 

721 731 + % 

80% 801—1 
■91 891— d 

71 71 — % 

65% 67% +2% 
681 681—1% 
36% 2d 

<11 4J% + 1 

81 8d + 1 

148 471 
1331 6% 

260 371 

823 40 
59 Id 
235 18% 

F ridays 



Tables include the nationwide prices 
up to the closing on Wall Street 
and do not reflect late trades elsewhere. 

I'm The Associated Press 

SOW 15% 
171 81 
32% 191 
30 15 . 

31% 16 
20 % 11 % 
11% 51 
21 1 % 
38% 211 
Ml 34% 
051 341 
23 161 

111 9 

91 31 - 

10 34 13% 

IS 126 311 
30 48 151 

115 17% 
19 153 30 

33 167 111 
31 31 

3* 117 381 

10 2233 321 

11 798 2d 

■ TO 23 

44* 111 

3 4% 

40 40 — 1 

13% 12% 

301 31% — 1 
15% 151— W 
141 17% + % 
19% 20 

101 id + % 
Z% 21 + 1 
371 381 + % 
32% 32% + 1 
27% 271 + 1 
221 23 + % 

11 % 111 + 1 

4% 4%— 1 

50% Ml 
361 34% 
131 71 

21% 111 
251 171 
•11 631 
7% II 
80% 521 
19% 121 
311 15 
01 50 

36 23% 

26a 3 
134 65 10 

US «J 10 
180 38 17 
100 38 11 

120 <1 J5 

77 351 35% 
228 36% 251 
82 101 10% 
n m m 

150 25% 25% 
239 791 781 
ISO 3% 31 
736 -S3% 801 
81 181 18% 
M 281-201 
1SS 79 71% 

1942 311 31% 

15% + % 

2d— 1 
25% + % 
2 %— 1 
82% +2% 
181 + 1 
201 + 1 
78%- 1 


■* -9 : 
Pt 8% + % r 

17 W + % 
491 491 + 1 . 
30*1 301 30% + 

32% 32 32% +1 

361 25% 3k 
11% ill 11% + i- 
Ml 14% 14%- t," 
29% 28% 2*%— %T 

6% 6’i 
381 371 
in 12% 
6 1 6 % 
8% 7% 
J9% 391 
90 88% 

40 . 39% 
jr -. 38% 
37% 371, 
121 121 
221 211 
461 46% 
3% 31 
93 78 76 

M 31 31 

366 13% 13% 
209 19% 181 
594 56% 53% 
20 55 56% 

137 36 251 

47 am 281 
101 10 
Ml 53% 
10 % 18 
10% 2C% 
15% 341 


m— % 
12 % + %. 
<%— %■> 
IX +%. 
3*1- ft. 
88% -IX 
40 — ta* 

39% + %- 



Id— w 
18% + % 

W%- 16 
26 + %■ 
sn + «a- 

541— 1 
10% + It 
201 — 1 
351 4 % 

NYSE Highs-Lws 

AMEX lUghs-I/ms 

4* 9(0 wron% 

AmCont inn 


ForestClv B 
Nw Proc 
T ram Lu> 









BtoPodLob 8 










Lundy EMC 
SCE 230m 

xdU— woOMribetion. 
xw— wtnmit trarronfs. 
y — a»«lvhknd and aoiao in fan. 
.z— earns in tuR. 

OrMcHma A 

Armen m mil 8«kMn8ik« Cosiwam 
HMGP roptv Mondyinann Mahon LB 
Pencil CP Pan. Scale SoraPrlmn 

?ctoH»n Low SSoroe 


f&HWiLoa 2Slc 

13 Mad 
HWlLow SMfc 

9i Ctaa 

NftHHilOv ttat-Clrte 

■2% 5 FrlosEn 
26 141 Frisch 1 32 9 21 

15% 9 FmlHd 

7% 41 FrlAwf .171 2 3 

12% 5% FurVltS 22 

44 11% 11% ?1%— % 

7 23 24% 23 

481 15% 13% 15% 

7 5% 6% 6% 

31 Id 10% 10% + % 

27% 211 


6% 3% 

Ml 5 
29 71 

31 1% 
31 1% 

39% 241 
161 8% 
141 61 

16 91 

361 10% 
101 8 % 

LaarPP 380 13J 
L4*Ptl • 15 

LOillOhS -IM 3 10 
LeiaurT 6 

LewW io 

LWFPh 4 U 10 

Lorlmr 19 

Lumoz 88 8 29 

LurxJvG 19 

Lurie 10 

LynCSs io 

LvnchC 80 23 15 

17 221 
190 71 

15 291 
59 5% 

27 7% 

J3 77% 
75 1% 

21 1 % 
367 38 
S3 15% 
247 14% 
283 Id 
2S3 15% 
57 9% 

221 221 + % 
6% 7 — 1 
291 291 + % 
51 5% 

6% 71 + 
271 27% + 
1% 1% 

1% l%— 1 

37% 38 + % 

15 15 — % 
13% Ml + % 
HI 11% + 1 
14% 1516 + % 
* 9 — 



171 101 
171 IM 
19% 15% 
4% 3W 

19% 131 
10 9% 

1 % 1 
131 9% 
6% 2% 

23% 341 
<% 5 

4% 4% 


SI 51 
Id WH 
221 30% 
85 85 

131 12% 
Id Id 
381 381 
151 IM 
15% 15 
17% 17% 
3% 3% 


185 228 
230 2X1 
133 228 
864138 3 

28 191 Swimn 180 58 25 

7% 31 Svnator 
W% *%SvsiE«s .10 18 12 

43 24 231 24 *3, 

6 41 3*i 41 + 1 

74 9% 9% *% + VT 


56 107 10 

180 28 11 
88 S 30 

12 10% 101 101 — 

7% 7%_ % 
3% 3% 

1 % 11 

161 17 + 1 

181 181 + 1 
96 91 

it% id— i 
191 191— 1 
3% 3%— 1 

11 % 11 % 

43 431— 1 

■ 8—1 

4 4—1 

70% 10% — % 
161 161 + 1 
% % 

351 35% 

34% 24% + % 
21 21— 1 
4% 61 

241 Ml + 1 
.61 II 
17% 18 
281 28% — 1 

4% 2 

?£ a 

15% 111 
111 8 % 
22% 151 
23 16% 

d 1% 
2 % 11 
76% 10% 
22% m 
8% 51 

4 ICEEn 
31% ICH 25 8 

45% ICH Ml 
» ICO 1 

2% I PM 8Sr 28 
6% IRTCpn 
1% rmpGp .lla 4.9 
IX imaind 
2S% irmscuis 188 
61 I might 

11 rittims 80 e 

d InjtSy 

21 insSy pf 751 lag 

6% imctra ao 

11% Intmk .12 8 

78 7% 7% 71— % 

2% IntBknt 
"• InlBkwf 

6% IntHvd 
31 IntPwr 
11 iniProi 
6 lnt5ca«r 
6 intThrn 
6 inThr pf 
Id ionics* 
18% iraaBrd 
2% isolv 

7 50 49% 

- 639 d d 
6 21 21 
33 15% 151 

is d zx 

4 1% 1% 

95 38% 381 
93 12% 12% 
19 21% 21% 

281 d 1% 
1 21 21 
52 12% T2X 

10 15% 15% 

■ 30 31 31 

5 % % 

42 7% 71 

17 71 7 

39 3% 31 

11 61 6X 


1% + 1 

15% + 1 

11 — 1 
J8U— X 

21% + % 
r% + x 

121— Vh 

586 61 6% 



88 U 32 

69 6% 6% 
50 201 19% 
25 40% 40% 
W7 31 3% 

%— 1 
7% + % 

3%— W 
61 + 1 
<A i— W 
6% — 1 
an + 1 
KPk + x 

31 + X 

MX 16% 
22% 15% 
12 4 

30% 181 
27% 10% 
71 31 

71 3% 

I 5 
25% 15% 
14% 61 

11% 7% 

OEA 13 

Oohwtl 88b A 13 
OdetAn Jt 

OUoInd 80 2.1 14 
□ Uens 24 s 22 


Openhn 85e 8 68 
OnofH A .15 11 163 
OSalvns A 1.9 15 
OxtrdF 821 57 13 
OzorkH JO 15 10 

5 6 

31 5 

33 22% 
239 Ml 
338 10% 

22% 221 + % 
19% 19% + X 
6% 61 
XW id 
251 2M-1 

a ;*+•* 

22% 2d— U 
14% 14% — % 
10% 101 + 1 

81 7 
4S1 56 
32% 18 
5% 2% 
10% 5 

2% % 

9 6% 

10 7% 

87% 671 
74% 54 
68 491 

24% 18 
3d 32% 
26 IMS 
30% 27 

5% 3% 
7 4% 

A% 4% 

11 9 % 
15% 11% 

516 3% 

a 17% 
3 1% 

MX 10% 
7% 3% 

35 12% 

21 1 % 
15% 10% 
4% 2% 

8% 3% 
5% 3% 

4% 3X 

2016 141 
141 8% 

10 % 51 

23% 15% 
15% 0% 

USR Inti 

URmto 10 

Unlcopf 35 48 
Unbnr n .9% 87 
UAIrPd 80)24 12 
UnCosFt 50 27 11 
UFooCA .10 62 
U FoodB 

UlMed 16 


unfieiv 22 

UnltH n 180 T8 
UnvCm 13 

UntvRs 19 

UntvRu 809 48 13 
Unv Pot 

30 2% 
156 12% 
42 12X 
27 151 
126 101 
11 22% 
II a% 
80 1% 
21 1 % 
197 IS 
5 20% 
39 7% 

• 201 
15 raw 
9 7 

60 17% 
71 Id 

29k 2% + h. 
12% 13% 1 

12 12— *1 

IM 1M + Mi 
Wife Ml + 1: 
22 22X + X 

UX 1f% T ."i 
1% 1%— MU 
m 1% 

14% 15 + X; 

2DH 20%—%' 
7% 7% • 
'30k* -201 +- W- 
18% WX 

7 7- —ft 

17V. in + *r 



18% W% 

Ml 81 

2% K 

19% 9% 
14% 121 
14% 10 
151 9% 
71 5% 

75X I 
6X 31 
30% W% 
TK 9% 
0% 5% 
16% 13% 

m % 
10% 9% 

II 7% 

III 0 

Id 8% 
14% 11% 
92 69 

231 17 
23% 16X 

3% 3% 

7 S f* 

7X 4% 
14% 6 
11% 6% 

101 PGEnfA 180 108 
91 PGEpfB 187 105 

8% PGEPtC US U4 
8% PGEpfO 1JS 108 
8% PGEpfG US 108 
BU PGEpfG U0 108 
29% PGEpfF 484 T2J 
271 PGEpfZ 486 n.9 

17% 12% joclm 
7% 5% Jacobs 

51 ZV* Jet Am 
3 1 JMAWT 

9% 41 Jatron 
61 2% JotuiPO 

f 23 141 MX I4X — 1 
47 6% 6% 6% + 1 

8 148 4% 3% 3%— x 

47 % % %— 9. 

71! 7.9 17 5 9 8% 9 + 1 

34 d 3% 3% 

21% PGEPfY 3J0 118 
17X PGEpfW 287 118 
15% PGEpfV 233 IIJ 

Id 7X JghtiAm JO M 13 63 10 9% 10 + % 

Id 41 Jahnlnd 

73 8% 81 1% + X 

9%- X 

18X— % 
11% — U 
6% + X 
13% + X 
21% + % 
5% + % 

B'+ FPA 

16% Fotalna .40 11 
3% FWglp 

91.2 FI Conn 180a 8/ B 
II FWvmB 80 SJ 13 
n-t Fstcrnn Jo 2.1 8 
Id FIsOlP 881 47 10 
4% FltcGE S' 

: FIIGEpf 4.00 14 3 


18 + 1 

HI + % 
VJa— X 
Ha— % 

FWRck .70 1J B 
FlUke 1J8I 48 II 
Fofidrm 6 

Foote of 

, Finnic is 

FordCn 04.000 
FgrsICA .15 3 91 

FarstCB 09 .4 93 

For ml L 47 

Fa tom I 

Fratlly m 

FrcbEI 18 

9 »% 

18% 11% 
4% 4% 

11% 111 
14% 15 
MX 34% - 
13% 14% 
91 9% 

27% 281 
7% 8 
41 41% - 

27% 28% 
13% 13% 
8% Sl- 
id 31% - 
7% 71- 

1031 102% • 
22% 22X- 
22% 23% 
V% 30% 
6 6% 
34 24 - 

4 % 11 
16% 10 
12% 10% 
21% 101 
91 5% 

17% 8 
81 4% 

15% 91 
16% rax 
Ml 21 

KODOkC 6 24 

KovCp JO 15 17 1 

KovJn .I0e 8 M 

Kelchm 5W 3J 31 73 

KbvCo JO0X4 I 

KovPh 20 1 J 19 1448 

KevCe 7 7 

Kldde wt 129 

Klnark 13 

Klrbv 147 

Kit m% M 2 

KiWAO 16 36 

Knott IS SI 

KaaerC 2JZ 7.4 98 

41 4 
13X 13X 
121 12 % 

1 IS 

id 11 

51 5 
41 4% 
4% 4% 
31 3 

41 41 
151 ISX 
24% 28% 



18 % -11 
sx— 1 

51— 1 
41 + 1 


171 PGEprr 154 ia? 
171 PGEpfS 162 n.l 
7% PGEpfH I.B 11X7 
151 PGEpfR 2J7 118 
14 PGEeff* 105 10? 
13% PGEpfO 280 118 
131 PG&fM 1.86 117 
IM PCEpfL 125 !U 
13% PGEptK IM 118 

151 PGEntJ 132 11.1 
7% POEpTI 189 108 
MW PGTra 18 U 7 
31 PacLlpf 4J6 188 
3d PacLlpf 458 11.1 
351 Podf pf 530 103 

301 pSrtCfl A 1J 21 
51 Paniast 38 

IM ParkCh 60s 16 10 
7% Parren 30 

2% PtnrFan X 

5% PUMG .12* U 4 
«% PeerTu 40b 19 78 
151 P«tTr U0 u 11 
171 PenRfi 3 180 78 10 
BX Pectril JO 25 7 
% Pcnlrnv 
23 PorlnfC 80 18 
II Prrirdl 17 

4% Perlrrt gf 1,18 U 
2% PutLw 

TAX + 1 

IS LSB 11 1» 11 11 

3% 2% LgBara 16 2% 21 21 

7% 3% LaPnl 7 2 4X 4% 4% 

UX 23% LOWS 8 I5e M 62% 62X 62% + 1 

5X H% LnOBnn 60 O 8 22 14 13% 13% 

17% 11 Lndmk 40 23 17 S3 171 17% 17% 

14% 91 Low 45 M 11% 11% 11% + X 

13 8X Laura n 22 I 9% 9% 9%— % 

6% 4% LazKan 5 4X 4X 4X + X 

23 MW 14 

4 13 13 

5 13 11% 

25 Id 11% 
71 1? lift 
31 Id 111 
13 341 34 
61 32 31% 

12 29 2ZH 

11 2d 23% 
51 21W 20% 

6 23% 23% 

7 2d 23% 

0 10% 101 

45 21% 21% 
M 18X 15% 
23 18% 18% 

12 If (8 

3 20 20 

2 18% 18% 

8 21 20 % 

4 10% 101 
89 21% 21 

340z «1 40 
Mt 481 401 
25*481 481 
6 % % 
63 38% 38% 
9 61 61. 

5 23% 23% 

n n 9 

« « w 

13 101 10 

1 10b 10X 

I 25% 25% 

*5 ft a 

91 9% 281 
I IZ 12 
76 12% 12% 
370 2% 2% 

141— % 

Id + 1 



MX + X 
311— ft 
29 +% 


23% + W 
23% — 1 

21% — ft 




18% + % 

10ft— X 
21% + % 


40ft — 1% 
4^ + X 

38% + ft 

91 + 16 
41 + ft 
W + X 

25% + ft 

28% + 1 




Id 8% 

a 21 % 

21 15ft 
» 4V, 

Ml T% 
23 8% 

11% 5% 

3 1%; 

716 4% 

14% lift , 
11 6 % 
20ft 11% . 
34 17ft : 
1% ft : 
IM 5 
ic% 11% 

6% 4X 
21 1ft 

9% VSTn JQO 
Id VQllvR*-l40 
17% Vatsprs 44 
2% Verlt 

l» VtAmC 40b 
3% VtRtfl 
% Verna 
7X v«imn JO 
d vartpft 
4% vtotach 
51 vican 
2% Vtntge 
!2 Virco 84 r 
AW VtauolG JO 
a Warn 40 
13ft VutcCB 80 

84 IM 
79 18 
82 27% 
2 6% 
S3 iax 

*2 % 

1A2 10% 
IS 4ft 
11 8 % 
40 7ft 
11 3ft 
5 ISX 
1 BX 
87 vm 
■ 2 lift 

10 id 

P All 

4W .»._+# 

in w% +:% 
4 4% 


IM 15ft +.^ 

ax ax--- 
kk wa- 
il 9ft + 


, (1 cr^ 

fi/rl v. J 


A Special Review Celebrating 
40 Years of Independence 

» & 

S3 iWSi 

New Investment Board Chief 
Ginandjar Sets A Fast Pace 

•fit is not always easy to do 
business in Indonesia. Often 
itjii necessary to use extra 
esergy (and sometimes other 
, resources too) to get things 
dbne here You are bothered 
tjr high costs which make our 
pods expensive in the world 
narfcet You are choked by 
Jcreancralic red tape_ we 
jre now stacking measures, 
drastic if necessary, to put an 
and to or at least alleviate 
those factors which hold back 
or impede investment., now 
4s the time to take fast and, if 
necessary, unorthodox ac- 
'tionsif we are to create an 
efficient and competitive pri- 
vate business sector.. X be- 
lieve in the old saying that 
the least government is the 

- - These are snippets from an 
address by Minister Ginand- 
jar Kartasasmitax to a lun- 
cheon gathering of Jakarta’s 
foreign business community 
in late March of this year. He 
had been oijly a month in his 
new post as chairman of 
BKPM (the Indonesian acro- 
nym for their national invest- 
ment board) and had already 
met with British and Ameri- 
can- ambassadors and key lo- 
cal business groups to sohdt 
their complaints and sugges- 
tions for improvements. 

By April Ginandjar could 
boast of st reamlin ed invest- 
ment application processes 
and a reform of customs pro- 
cedures so drastic it startled 
aS observers. 

' Ginandjar’s pace, passion- 
ate zeal, frank assessments, 
and sympathies with the 
problems of private business 
are much appreciated but the 
foreign business community 


Chai rman RfCPM 

and V5ce Chairman, 

State Pmcmement Committee 

certain Ginandjar has more 
clout than his predecessors, 
since he retains the vice- 
chairmanship of the govern- 
ment’s procurement team, 
which approves all govern- 
ment expenditures over 
U.&JSOQ.OOO. In an economy 
dominated by government 
corporations, this is an enor- 
mously influential position. 

■ Indonesia has already been 
lauded by the international 
banking community for its 
deft handling of economic ad- 
justments in 1983-84, brought 
about by the worldwide drop 
in oil prices. Oil and gas prod- 
ucts provide about 60 per 
cent of the nation's foreign 

■ exchange earnings. Within a 
period of less than two years, 
the government has shelved 
or rephased plans, affecting 
projects with an aggregate 
value of about U.S.$20 billon, 
devalued the na tional curren- 
cy (Rupiah or Rp.) by letting 
it float against the UiL dollar, 

strictions, and enacted a ma- 
jor reform .and moderniza- 
tion of its tax system. The 
result is low inflation, high 
foreign exchange reserves 
and Indonesia’s credit is very 
good. . 

Ginandjar now means to 
bring the kind of political 
pragmatism and will that sta- 
bilized the nation’s economic 
indicators after the oQ price 
drop to bear on the precipi- 
tous fall in foreign invest- 
ment Private investment in 
1984, measured applications 
approved by BKPM, dropped 
68 per cent from 1983 levels, 
to about $35 hiiKnn. Foreign 
investment tumbled 57 per 
cent and domestic invest- 
ment went down 72 per cent, 

to $L06 biffi/m and $2.1 hfllinn 

respectively. The new BKPM 
chairman is flnsh with the 
sucess of his two years in 
charge of a “Buy Indonesia” 

program to support domestic 
products—during which he 
was characterized, be says, 
as a “nationalist zealot” on 

World recession and confu- 
sion over Indonesia's new tax 
laws are generally blamed 
for the investment decline, 
but even without it Ginandjar 
faces the formidable goals of 
the fourth five-year develop- 
ment plan, which began in 
April 1984. It calls for a 22 per 
cent annual increase in pri- 
vate investment toward 
meeting a growth goal of five 
per cent annually through the 

Ginandjar’s first formal 
act in his new office was to 
gather the complaints of the 
foreign business community, 
in an effort to assemble a 
shortlist of what are viewed 
as policy stumbling locks to 
investment opportunities. 
They include calls for ex- 
panding very limited areas 
open to foreign investors, en- 
acting patent laws, relaxing 
land-holding restrictions for 
plantations agriculture in- 
vestments, allowing foreign 

companies to borrow rupiah 
from the live state banks 
(which control 80 to 90 per 
cent of all Indonesian bank- 
ing capital), easing tight re- 
strictions on expatriate em- 
ployees, and easing pressures 
to use domestic products and 
services. Hie last item is pre- 
cisely that, upon which Gin- 
andjar has built his zealous 

The new Minister’s task is 
to find a balance between 
what foreign investors want 
done to ease opportunities 
and what the Government 
wants to achieve for the na- 
tional well-being. 

“We win not stop looking 
for ways to increase efficien- 
cies,” promises Ginandjar. 
Ironically, the very pace of 
improvements being made 
have helped keep investors 
cautious. They like stability 
in the business climate as 
much as in a country's poli- 
tics, and many are keeping 
arm’s length away until the 
dust settles around the poli- 
cies and programs of 
BKFM’s new and energetic 

Subroto Fattens a Lean 
Year For Oil Exports 

Professor Doctor Sahroto. 
Indonesia’s Minister of Mines 
and Energy is the first to ad- 
mit these are lean times for 
oil producers. Successful con- 
servation efforts by Japan, 
Indonesia’s main customer 
for on, and price competition 
from China's exports to the. 
same customer have hurt In- 
donesia has tried to rest its 
case on reliability as a long- 
time supplier and also 
worked out price reductions 
and special oil blends of light 
and heavy stock to bring 
prices down. 

They notified traders of 1st 
February 1985 retroactive 
price reductions on more 
than a dozen types of crude, 
according to a recent bank 
report They have also given 
approval for Japanese trad- 
ers to buy a crude Mend of 
70 % of the preferred Minas, 


Manufacturing Investment 

(Million of U.S8) 

2977 1978 2979 2980 28S1 1982 1983 
APPROVED 2410 2808 18l£2 7088 854.4 154581,7518 

IMPLEMENTED 1865 267.0 1928 235.4 2438 3788 2208 


, Akl Loans to Indonesia in 1985 


L U £.$131 million (or expansion of rubber plantations; 

2. U 5^156 million part of total U54283 million multi- 
i mtimj purpose dam and irrigation Project; 

mqS 3. U.S446 million part of total U.Sjpk.4 million family 

Jane 1967 - September 1383 

479 Projects 

planning services project; 
4. U.SL$39 million part of to 

las remained guarded,, fiberalxzed {he hanking sys- 
watchmg'fbr policy changes tend 1 by removing'' Interest 
io backtbe Minister up. Fbr.Jrate ceilings: and other re- 



Foreign Investment as at September 30 , 1984 
(by BKPM list) 

APPROVED 783 Projects U8.$15,Q2L9 


(Total ondisbarsed aid loans into Indonesia for 1984 were 
U.S4H.7 billion) 


UJL$40Q mfflion, ten-year note issuance facility will be 
launched this year in the Euromarkets. This is the first 

1 * nr’ r ■* • . ... 

4. U.S$39 million part of total U5866 million Ihealth 
development project; 

5. U.S843.4 million water supply project; 

S. U.S.$147 million part of total U.&$244J> million educa- 
tion project to develop new graduate-level programs. 

U.S42.4055 million aid package for 1985/1986 from this 
creditor group; as recommended by World Bank and 
proposed by Indonesia. 

Aid Package 

U.SJ572.4 million in bilateral soft loans at 3% interest 
U.S4L833.4 million in multilateral loans at around 9% 

such deal of significant size by a major sovereign borrow- 
er in the Far East It is expected to be one of very few 
borrowing operations by Indonesia this year as the coun- 
try already has substantial undrawn fines of credit 

Professor Dr. Shfcroto, 

Minister of Minas znd Energy 

or Sumatran light and 30 ?o 
Duri, Sumatran heavy. The 
new blend is called “Suma- 
tran medium." 

Subroto noted competition 
from China in the Japanese 
market and complained that 
“They can price their oil in no 
relation to production cost. 
So they generally run 50 1 to a 
dollar below Indonesia 
prices. “Refining technology , 
can now overcome the quali- 
ty differences in the two 
crude oils, which generally 
favor Indonesian oil 

Twice a year the United 
States Embassy in Jakarta 
issues studies of the Indone- 
sian economy. In late May of 
this year, they released the 
annual review of “Foreign 
Economic Trends - Indon- 
esia What it reflects is the 
importance of LNG sales in 
bouying the Indonesian econ- 
omy through a rough fiscal 
year in 1984-1985. and the 
country’s achieving virtual 
self-sufficiency in refining 
capacity when its three new 
plants come on stream this 
year. Following are excerpts 
from the report on Energy, 
Mining and Foreign Trade. 

The petroleum industry 
provides 65 percent of Indo- 

nesia’s total export earnings 
and 60 percent of the govern- 
ment's tax revenues. Indone- 
sian crude oil production has 
fallen from last year, re- 
sponding to a downturn in oil 
prices in 1984 and OPEC sup- 
ply restrictions. Total export 
of crude oil and condensate 
are running about 950,000 bar- 
rels a day. In February 1985, 
as part of a general OPEC 
price revision, Indonesia low- 
ered the official price of Mi- 
nas by one dollar to $28.53 a 

Proven crude oil reserves 
of 10 billion barrels and 40 
billion barrels of probable re- 
serves are declining slowly, 
but are still sufficient to sup- 
port present production lev- 
els into the next decade. De- 
lays in foreign contracts and 
work program approvals 
have contributed to a fall-off 
in exploration activity during 
the last few years. However, 
U.S. firms such as Diamond 
Shamrock, Caltex. and Arco 
are committed to investing 
hundreds of millions of dol- 
lars in new exploration for 
oil coal and other energy 

Three new refineries were 
opened in 1984 by the state oil 
company Pertamma. Despite 
break-in problems during the 
start-up period, these plants 
wilt enable Indonesia to 
achieve virtual refining self- 
sufficiency in 1985. 

Foreign trade is of major 
importance to Indonesia’s 
economic development, as 
exports of goods and nonfac- 
tor services average 22 per- 
cent of GDP and imports of 
goods and services 18 per- 
cent In FY 1984/85, the value 
of Indonesia’s gross hydro- 
carbon exports fell 4 percent 
due to a slump in the oil 
prices, although gas earnings 
rose 35 percenL Oil and gas 
gross export earnings in 
FY 1985/86 are projected to 
rise modestly to $14.3 billion 
from $13.8 billion in 
FY 1984/85. 



Our aim is to offer a superior 
service for the business executive, 
and allof us at Garuda, around 
the world, are determined to succeed 

‘V\fe 're already well on our 
way to doing just that 
with our new Garuda 
Executive Class. At last, 
executives will come first.' 

T he launch of Garuda's new 
Executive Class marks the 
beginning of a new era for 
Garuda Indonesian Airways. 

As of August 1985, there will 
be a business dass that realty f ulfills 
the needs of the frequent traveller. 

Now we offer an exclusive 
range of services unique to Garuda's 
Executive Class. 

Upon boarding, passengers 
are escorted to their seats in the nose 
of our aircraft. This section,.previously 
reserved , *- for first dass 

passengers,* ■ K combines a 
spacious w fl F environment 

with a ASl Zfea seduded, 
intimate [. atmosphere. 

letter paper, envelopes and colourful 
postcaras to keep you in touch with 
loved ones left behind. 

Of course, cocktails and 
drinks are complimentary throughout 
the flight, as are the specially chosen 

There is a choice of 2 
menus, Asian or European, each dish 
prepared to seduce the most 
discerning palate. 

The needs of the frequent 
traveller are as unique as they are 

The unique 
location allows greater 
freedom of movement and 
provides wider, deep- 
cushion easy- seats. The 
perfect combination for a 
comfortable flight. 

But it is 
Garuda's exdusive 
services that truly set our 
Executive Gass apart. 

To facilitate the 
'working' passenger, 
Garuda provides a 

the GsnuhHp- fart 
E nmffljf Se&rg 




No airline has 
understood and fulfilled 
those needs better than 
Garuda with our new 
Executive Gass. 

Garuda's new 
Executive Gass is the 
beginning of a new era of 
business travel. 

Indonesian airways 

Where executives come first. 

AbudhaM • Amstentam '• Bangkok * Dertrin • Denpanr • Frankfurt • HbngKoog ■ Jakarta • Jeddah • Kota Kinabalu • Kuala Lumpur • London 

• Manila • Mdboumr • Paris * Penang * Perth • Pm Headland • Rome • Singapore • Sydney • Tokyo • Zurich 




Tourism Goal is 14% 
Annual Increase, 

Eight Investment Areas Targeted 

Indonesian Opal Center Hopes Buoyed 

“In January 1985, our Pres- 
ident asked me to develop 
tourism to be the number two 
foreign exchange earner in 
Indonesia,” recalls Achmad 
Tahir, Minister of Tourism, 
Post and Telecommunica- 
tions. The formal objective of 
Repelita IV, the fourth five- 
year planning period, is' to 
bring arrivals up from the 
700,000 ini 984 to a million by 
the end of 1988; to get their 
average daily spending up 
from U.S450 to U.&$ 125; and 
to have them stay longer— 12 
to 14 days on average over 
the 10.6 days recorded in 1984. 
In short, Minister Tahir’s 
brief and that of his Director 
General of Tourism, Joop 
(pronounced Yope) Ave, is to 
achieve a 14% annual growth 
in the tourism sector. 

Toward that end the Ge- 
vemment has abolished tour- 
ist visa requirements for 28 
countries; built hotels and 
demonstration projects in 
Bali with World Bank aid; 
encouraged a new and open 
atmosphere at Garuda, the 
national carrier, which has 
led to creation of special “See 
Indonesia” packages and co- 
operative ventures with oth- 
er airimes to bring more traf- 
fic into the country;' 
prepared a number of studies 
and surveys for forther de- 
velopments. Much of their re- 
search effort has been direct- 
ed at ways to involve 
Indonesia's small b usiness 
sector and other private en- 
terprise, such as expansion of 
Jakarta’s An col Dreamland 

leisure and theme park by 
the Pembangunan Jaya 
Group. Their “Duma Fan- 
taa" theme park is an Indo- 
nesian version of Disneyland, 
scheduled for completion this 

Several of the proposed ar- 
eas for further development 
are intended to make Jakata 
less of a transit stop and 
more of a tourist destination. 
Others are intended to open 

Jaipangan Dancer 

The first recorded discov- 
ery of Indonesian opals was 
by a German geologist in the 
1930’s. When war broke out he 
was interned by the Dutch 
and was presumably sent 
back to Europe, ' never to be 
seen since. From that time 
until the late 1960’s, digging 
for opals was done as a hobby 
by farmers in the area. Local 
people would buy them be- 
cause they were pretty. They 
often just kept them in bot- 
tles of water on their shelves 
as home decorations. 

forthcoming auction at Soth- 
eby's Genera; but the sizes 
tend to average three carats, 
on the whole smaller than 
Australian opal where six to 
ten carat stones are not un- 

black opal is a precious stone 
in the same category as dia- 
monds, rubies, emeralds, sap- 
phires and catseves - and it is 
the rarest of them alL 

Monkey Theatre at Duma Fantasf 

new areas for tourism such 
as the north and west Suma- 
tra coastlines and Bukittinggi 
highlands in the west, and 
Ban ten in west Java, Maluku 
and Lombok islands and— for 
business travelers— Medan in 
north Sumatra. 

Besides being an oil supply 
base anii industrial zone, Ba- 
tam island will offer the 
Nongsa Beach Resort The is- 
land is in Riau province and 
only about 20 kilometers 
from Singapore, its major in- 
tended market for weekend- 

In 1967, an American jew- 
elry designer saw a few 
pieces in a shop in Pasar 
Bare, bought them and took 
them to the jewelry depart- 
ment manager of Duty Free 
Shoppers, Hong Kong, who 
confirmed that these were in- 
deed natural, solid, undyed 
and untreated black opals. 
The American returned to In- 
donesia, later married an In- 
donesian girl who by chance 
was descended from royalty 
in the area where the opals 
were found, and thus was 
born the Jakarta Hilton’s In- 
donesia Opal Center (IOC). 
They now have three retail 

According to Irwan 
Holmes, with IOC, white opal 
is still considered a semi-pre- 
cious stone in terms of value 
on a par with aquamarine 
and tourmaline, although 
very top quality crystal 
stones of large size are now 
fetching in the neighborhood 
of U.S. $1,000 per carat But 

“Whether it is a ploy on the 
part of opal dealers or actual 
fact, word in the industry is 
that Lightning Ridge is being 
depleted and that this source 
of black opal will in the not- 
too-distant future be worked 
out. Indonesia has been 
blessed with opal rough that 
is more than 50% of the 
semi-black to black variety. 
This should be of consider- 

able interest to the jewelry 
trade in the not-too-distant 
future,” claims Holmes. 

“Black opals just continue 
to go up in price because of 
their scarcity. They are in no 
way controlled by an epaf 
cartel nor is any stock 1 km 
back to keep price up. Some 
dealers speculate that wkfc 
the growing interest in opal 
all over the world it may 
someday surpass the dia- 
mond in value, considering 
the ever-increasing suppdysf 
diamonds these days... just as 
it was in Cleopatra's day 
when opal was the Km£ Of 
Gems". L 

Enter Indonesia, anf a 

smiling Irwan Holmes. 

The Asian Development Bank 

Promoting Agriculture, Energy and Manpower 

Since 1978, Indonesia has 
consistently been the largest 
borrower of the Asian Devel- 
opment Bank (ADB), the Ma- 
nila-based multilateral devel- 
opment financing Institution 
which fosters economic and 
social progress in the Asia- 
Pacific region. 

The statistics testify to the 
growing strength and impor- 
tance of the ADB-Indonekan 

shops, and expect soon to ’partnership; in 1984 alone, 
open two more. IOC aim ex- ADB l end i n g to its largest 

Relief fresco rtf Buddha, Borolxuhir. 

AncoFs ‘Dnnia Fantasf 
By the end of this month or 
in early August, according to 
company director Soekardjo 
Hardjosoewijo SH, Ancol will 
hold the grand opening of its 
most ambitious project yet: 
Dunia Fantasi (roughly Fan- 
tasia Land). This is the first 
of five stages on 9.5 hectares 
of land. The whole project 
will evetuaHy cover 200 to 220 

hectares of land and an island 
off the Jakarta coast 
Phase One hzjs been under- 
way since 1981 Under the di- 
rection of seven Indonesian 
architects ami Randan DneD, 
a UjS. theme park consultant 
architect based In Santa 
Monica, California. They 
hope to start stage two in 
1986, which win cover nine or 
10 hectares. 

ports regularly in small quan- 
tities to Singapore and Ma- 
laysia. The Indonesian Opal 
Center also owns some 11 
hectares of opal-bearing land 
and hopes to find mining in- 
vestment in the near future. 

A few giant stones have 
been found in Indonesa. One 
100 + carat stone was auc- 
tioned in Singapore recently, 
and a Tna gnfflrant 30 carat 
round stone, jet black with 
red fire, set in diamonds as a 
brooch will be included in a 



and most populous borrowing 
member country 1 totalled 
$587 minion, or 26 per cent of 
the year’s lending of $12 bil- 
lion. And as of the end of 1984, 
its cumulative lending to the 
country had reached nearly 
$3 billion, or about 19 per cent 
of a total loan portfolio of 
nearly $15.6 Milton. 

The ADB commenced op- 
erations in Indonesia in 
1967— soon after it first 
opened its doors for busi- 
ness— and its assistance has, 
to a large degree, been aimed 
at complementing Govern- 
ment efforts to ease con- 
straints on development and 
raise living standards. Bank 
lending has also closely fol- 
lowed Government develop- 
ment priorities as outlined in 
the successive Five-Year De- 
velopment Plans (Repeiitas), 

■proved in June 1969) was for 
an irrigation project and un- 
til quite recently about 20 per 
cent of all Bank loans to Indo- 
nesia were for constructing 
and rehabilitating irrigation 
systems in Java or develop- 
ing new ones in the Outer 

Since 1982, however, there 
has been a perceptible shift 
in Bank lending away from 
irrigation into other agricul- 
tural subsectors— fisheries,- 
livestock, agricultural credit, 
secondary food crops, tree 
crops and forestry. This part- 
ly reflects Indonesia's recent 
success in achieving self-suf- 
ficiency in rice. 

About one-fifth of all ADB 
loans to Indonesia have been 
channelled into power pro- 
jects where the Government 
and the National Electricity 
Corporation (PLN) are mak- 
ing efforts to develop non-oil 
energy sources, reduce the 
use of oil for power genera- 
tion and thereby increase ex- 
port earnings. 

The exploration of energy 
options for widely-scattered 

and industrialization effofa 
are hampered by a lack W 
skilled workers. r 

Recognizing Indonesian 
urgent need for training man- 
power. especially in the ptf 
mary sectors of mining, man 
ufacturing, construction 
communications and the ser- 
vice industries, the ADB has 
directed over 10 per cent of 
its lending to the country 
(over $306 million) into edu- 
cation projects. 

In addition to these sec- 
tors, the Bank, on a selective 
basis, also helps develop 
roads and ports to improve 
transport within and among 
the country's 13J50Q islands r 
has also extended assistance 
for water supply and sanita- 
tion facilities and urban de- 
velopment and housing. - 
At the end of 1984, cumula- 
tive disbursements of ADB 
loans to Indonesia totalled 
5782-2 million, or nearly 32 per 
cent of the total amount of 
effective loans. While there 
have undoubtedly been sour 
delays in implementing cer- 
tain projects, tri-annual 

Digital's VAX systems have 
earned an enviable reputation as 
the best-engineered computer 
family in the world. 


First, they offer a complete 
range that gives you the choice 
of selecting exactly whal you 
want — from a single-user 
micro lo a sophisticated system 
that occupies a data center and 
effectively handles the workload 
of your entire organization. 

Second, every member of the 
VAX family works perfectly with 
the others. In fact, the VAX 
systems are considered the 
industry standard for processor- 
loprocessor compatibilrty. 

there's an optional floating point 
accelerator for numerical 
intensive applications 


The Digital VAX family virtually 
redelines compatibility. 

Software is completely 
compatible. VMS. a multi-user, 
multi-tasking virtual operating 
system, runs on every member 
of the VAX family 
This means you can 
apply compatible fife 

processors — with 
compatible architecture, 
data registers, file 
slructures. languages and 

networking operations — to an 
incredible range ol applications. 

Then, the VAXcluster system 
means you can link multiple . 
processors together and 
manage them as a single unit. 
As many as 16 processors and 
storage servers can be 
combined Into a single 
VAXcluster. delivering almost 
unlimited computing capability. 
This facility is unique in the 

Furthermore, through Digital 
Network Architecture, you get 
efficient corrirnunications with all 
your installed systems — 
inclining non-Digital systems. 



. • 


W' f 4 


Bke ptnottog at the Te3uk Lada Area Devdopmerit Project 

Country Projects Reviews to 
Jakarta between the Goven* r 
ment and the Bank havt 
helped resolve many protj| 
lems and streamline procet 
dures. \ 


A Technical Tfeacfiers Upgrading Center to Medan. 

The chief advantage of such 
architectural compatibility is the 
return-on-investment that it gives 
you in the long term. You can 
start anywhere with the VAX 
family and expand up or 
distribute down as your needs 
dictate. And you won’t have to 


The VAX family has now been 
extended even further with the 
addition ot three new models 
The MicroVAX 1 is our new 
junior, cost-effective enough for 

in the latest of which— Repe- 
lita IV (1984/85-1988/89)- 
high priority has been as- 
signed to agriculture, educa- 
tion, transportation and pow- 

As of 31 March 1985, agri- 
culture— the most important 
sector in the Indonesian 
economy and the one receiv- 
ing the largest share of the 
Government’s development 
budget-had accounted far 
nearly $1.2 Milton, or about 40 
per cent of Bank loans to the 
country. In fact, the very first 
ADB loan to 1 the country (ap- 

human settlements is seen by 
the Bank as another priority. 
Under a $450,000 technical as- 
sistance approved in Decem- 
ber 1983, for example, plans 
will be formulated .for devel- 
oping commercial energy 
supplies at various growth 
centers in the rural areas of 

A third major area of ADB 
activities in Indonesia is 
manpower development— a 
matter of critical importance 
to this immense, resource- 
rich nation of over 160 million 
people where development 


Reviewing Indonesia’^ 
growth targets at the Bank’s, 
recent Annual Meeting of they 
Board of Governors in Bang- 
kok, Minister of Finance Ra- 
dius Prawiro noted: “The 
Bank, with its financia l re- 
sources— but more impor- 
tantly, with its understanding 
of the unique forces which 
guide our public and private 
sector activities— can play a 
major role in this growth. 
The key is coordinated, wefl 
targeted len ding " 

1 To date, India has been 
non-borrowing member of 
the ADB. 

VAX-i 1/725 

VAX- 17/750 

VAX-1 1/785 

just one user but powerful 
enough to handle many 
demanding tasks. The Micro 
VMS operating system gives you 
the sanie utilities, development 
aids and languages as the full 
VMS operating system. 

Big brother is the VAX-1 1/725. 
Designed for the office, it's so 
compact it can fit under a desk. 
It's quiet and it requires no 
special air conditioning. Yet it 
runs full VMS software and can 
support up to eight users. 

Our new family head is the 
WX-1 1/785. It's the same size as 
our\AX-11ff80. but its full 32 
Kbytes cache memory means it 
can easily handle your programs 
with complex subroutines, pbs 



MicroVAX I VAX- 11/725 VAX-1 1 730. VAX- 1 1/750. VAX-1 1/780. VAX-1 1/785 
and VAxciusier systems 


VAX processors support VMS and UURIX operating systems. 


VAX sysiems support the VAX Information Architecture, which includes the 
VAX DBMS CODASYL daiaoase VAX Rdb relational databases, ihe Common 
Data Dictionary DATATRIEVE ,U query language and application generator. 
DECgraph' M business graphics software DECsMe :v 35mm slide generator, 
vftx VTX" vioeore* sysiem FMS"- 1 Forms Managemeni Sysiem TDMS Terminal Data 
Managemen: Sysiem and ACMS Aapicaiion Coniroi and Management 5ystem 

retrain, reprogram, restructure 
files, or abandon Ihe system you 
started with. 

The VAX computer family's 
unmatched applications 
versatility means that every area 
of your operations — from the 
factory floor to the engineering 
lab to the executive office — 
can take advantage of the 
unequalled value of VAX 



VAX systems support API, BASIC. BLISS. C. COBOL. COftAl 66. DIBOL' v 
P-wai s MACRO assembly language 

Digital Equipment Hong Kong Limited Floors irrercomnwnai Plaza 9* Granmie Road. T&mshatsU Eat. Kowloon. Hong Kong Tel 3-7315211 Cade "DGITAL' Telex. 46*2* DECHK HX 
fKgHaf Hqupment Smg^ore Pte Ltd. 73 Tfnan Fload No 06 Tong Nam Buttng Singapore 0922 Ter 33S358B 

Authorised Distributors . PI Astra Saphia tij& 1 1 learns Raya Juana, mdonesa Ter 35665* 

China Computer Caporafan jo Ffca 587 Mn;5mg Eaa Bead TawTawan ROC TettiEl 5N-6616 HOUnwSQi ■6636 iSLreg 

Doosan Computer Corporation Kan nj-j Butrt; kL YwfcOanc raiToOeungA) Kjj S^cU Kra. T© /KE&sQ 
Bangkok Data Centre Co. Ltd. Cirrus* Butfrig iSi P?snJ>e Read tote/c ffengax Tei 2826615 


Hyatt Hotels in Indonesia biend 
national traditions with those seed a I 
touches that are particularly Hvatt. 
Like rite gracious service, the excellent 
cuisine in our restaurants, the 
extensive sports and leisure facilities, 
and die special care or our Regency 
Club accommodation s . 

Don’t you \\qSH 




... / 

or: HCi-Hi's : 
•dm; on $, ;rc( 





fvr ■ n .\T i ; u h { > ; -j , , ; .? ; fi {y U 

1 \ 

/■LV f 

r—— ■!. 


r— "*'■« 

h- — -i ; 

10 UtovEfe; 


the m 




^ interest . 

5,0 Up jnSt (w j 


«««oS r 4^4s 


!<W' M liijl 


t Bank ; 

^ Manpower *> : 

“B '"<!ii.iinali a , ]n „ : 

fampcrw bv ?,<V. 

S*^*--*! •Aorferj d **'. r 

utartu;i n4 

cun:n;ur - -Tt ' 0 njlr '*cij fi j .- 


** fcndffis ; L . 
lU'-tr 83M raUJMnf 
WUor; pr.»t w;ls . n 

In additnc -o ihes^g 
oas * *«* Itol**** 

a::d pwu » uS } 

M» t«arir>-» lUQOataS ■ 
hu> nJ>j, extended assal 

! or * a ’’ r ^pplv ^ 
‘ SOR ^victics ana urtoii > 
vrioinntT.: and h ouan& .1 

. ■'= ’-»>■ «iauf IwTrU 1 

JV0 Aio-p^nwais of ■£ 
a ^~-~ ’■- irc'.mwia iw&y 
$’*'- s - : "i:'-''^ ‘»r nearlvtj*. 

t'i.‘r.j tr.v Cuiij anum,^ 
vif('v 4 «i.' . . -u'.-s «\ laje ^ y 

hxyt beast* 

i/L-i r -rr_-ffvjea. V- 

C.^rr.-y T , .-\'*cs Rena-I -_! 
Jj--. -r'..; lv. •» '.n lae Gim .. 
rtv.:’'! ur.c ■.»*.• Sack b «’. 
SttlpeU ''• > ■ ■• ranyjrt 
’v.TS ar;.J SMTiiU JS» 
dire?. :; 

St •.• •. >■. •.. ; r.^ ir.ciWJ'i it 

race::'. V.r£si® '- 

E £ 

‘ : * v: F= r?| | 

-•— crs-- .-■-«=? 5f 
far.!* — 

*,f :.o .::,>>•• Svi^- 
jr—do • -• ; ••- l 

; . . ..■ . — itK* i 

■*n. . ••• • . { 

T»v.- -.- ;• :. . •< •:a'5* lt j| 

~ 7 "" ...... ,h..nS-- : 

[C- 7rw,a. 

4 rc 

HHj-i ‘^rvic^r 

r r r L ^taiiE®c$v T 

.ai .are <J <** Ra ^ 


- isii _ :M 
, . \\ FKE. .? 

|i!tRl' : ; 

‘ RVAL =^-- 

F T Jr.X* - _ 

. r A*- • 


Tti'- - •. .? 

' !j 


Telecom Plans 

Include Indonesian Astronauts, 
Digital Telephone 

In June 1983 Mrs. Saliy K. 
Bide pushed tibe button that 
deployed the third Indone- 
sian communications satel- 
lite, Palapa B-1 from the 
Space Shuttle Challenger. Ac- 
cording to staff assistan ts of 
Imtonesia’s Minister of Tour- 
ism, Posts and Telecommuni- 
cations, Achmad Tahir, the 
; astronaut who presses the 
button to launch Palapa B-S 
in June 1986 may Well be 
again a woman— will for cer- 
tain be Indonesian. 

Indonesia has accepted an 
■ invitation from NASA to send 
op -their own astronauts; as 
Of June-1985, the gove rnme nt 
had reached a shortlist com- 
prised of seven men and five 
women. Four win go on to 
NASA, for advanced training 
ami,: eventually, two will be 

chosen to go up with the 
Space Sh uttle that launches 
the fifth Indonesian commu- 
nications satellite, replacing 
Palapa B-2 which malfunc- 

Minister Tahir was ap- 
pointed in March 1983, but 
has a long and sophisticated 
resume of service to Indone- 
sia. He takes a certain glee in 
explaining the name origin of 
the satellite series: “In about 
AJ). 1351, a Majapahit com- 
mander took an oath that he 

; would not eat the palapa, a 
delicacy here, before be had 
united the country.” National 
unity is a prime motive for 
creation of the satellite com- 
munications program, and 
satellite technology is very 
much a delicacy to a develop- 
ing country. 

“There are only nine coun- 
tries os the orbit path along 
the equatin'” notes Tahir, 
“we have a terrestrial base 
across over 13,000 islands and 
about 5,000 kilometers. The 
equator is about 40,000 kilo- 
meters around, which means 
we straddle about.oneeighth 
of the world's orbit path. So 
when Intelsat was first orga- 
nized around 1964, we bought 
a Share to stay on top of de- 

Minister Tahir is the Vice- 
Chairman of the Independent 
Commission for World-wide 
Telecommunications Devel- 
opment, founded in 1981 by 
resolution of the United Na- 
tions General Assembly. We 
arrived early at an objective: 
Hus is to bring all mawirinri 
within easy reach of a tele- 

phone by the early part of the 
next century-” 

Three-quarters of the 
world’sSOO million telephones 
are now concentrated in nine 
countries, according to Tahir. 
Indonesia ranks lowest in 
telephone density per 100 
people among ASEAN na- 
tions, at an 0.44 rating This is 
far below even the next low- 
est country, Thailand, with 
LIB phones per hundred peo- 
ple. The Philippines has 154, 
Malaysia 610 and Singapore 
has 3424 phones. 

RepelitaJV, the fourth 
five-year plan, aims to add an 
additional 750,00 telephone 

line units to reach a density 
of 0.S per cent in 19$, and the 
addition of 16,000 telex line 

The 1983 Annual Report of 
Tahir’s ministry shows con- 
sistent profits made through 
the five years of the Repeii- 
ta III period by three govern- 
ment corporations: Public 
Corporation for Telecom- 
munications, Telecommuni- 
cations Industry (PT. INTI 
makes equipment), Indone- 
sian Satellite Corporation 
(PT. INDOSAT) which rente 
access to the Palapa satellite 
system to other ASEAN na- 
tions at very healthy profits. 



i j 

Indonesian Satellite Corporation (PTJNDOSAT) 





Bp. 18.498W95.00 

Rp. 8,803421,430.00 


RP. 26,678,791,765.00 

Rp. 8452,365,166.00 


Rp. 66^01,968,090.00 

Rp. 23,048.123430.00 


Rp. 111,059,956,349.00 

Rp. 35,631228,621.00 

” RrvisaJ figures. 

Hong Kong Bank 100- Year-Old Presence in J akar ta 

“I suppose you could say 
.we’re following the pace set 
by the new headquarters at 
number one Queen’s road, 
Hong Kong,” muses Alistair 
Cook, the Hong Kong & 
Shanghai Banking Corpora- 
tion’s area manag er in Jakar- 
ta of the Bank’s new facility 
in Jakarta, Wisma Metropoli- 
tan n on Jalan Sudirraan. He 
adds, “This is a new concept 
in design for us from the tra- 
ditional office, and is an ac- 
commodation fit for the 21st 

It Is intended that the new 
premises win house the sub- 

ticated banking and financial 
requirements around the 
world. In Indonesia, the Bank 
will also seek to meet the 
challenge of future needs by 
broadening the range of its 
services to customers and by 
improving its internal re- 
sources through emphasis on 
advanced methods and staff 

In Jakarta, the Bank is 
strengthened by its relation- 
ship with PT Wardley-Sum- 
ma Leasing Since 1981 Ward- 
ley — the merchant hanking 
arm of the Hong Kong Bank 
group — has had a 50/50 joint 

.• • ... . *■.. 

v: r- •' - 


. -• -• - * 
ft* ~ t . x o 

New headquarters far Baqg Kaag Bank in Jakarta. 

branch, which is being trans- 
ferred from down-town Kota, 
and the Management, Credit 
and Marketing departments. 
The sub-brandh will provide a 
full range of banking services 
and will cater to the new of- 
fice developments and upper 
and middle-income residen- 
tial areas, in the southern 
part of the Indonesian capi- 

The new budding win be 
formally opened on 17th of 
July by the Hoag Kong and 
Shanghai Banking Corpora- 
tion Chairman, Michael G.R 
Sandberg. Dr. Arlfin M. Sire- 
gar, Governor of Bank Indo- 
nesia, the country’s central 
hank, will officiate at the cer- 

Towards the new century 

The Hong Kong Bank 
, group has consistently dem- 
onstrated its ability to re- 
spond to increasingly sophis- 

venture with interests repre- 
senting the Astra Group, and 
PT Wardley-Sumraa Leasing 
now ranks as one of the lead- 
ing companies in the field. Its 
further growth will be en- 
hanced by the opening of a 
branch office in Surabaya 
this year. 

Indonesia is rapidly be- 
coming a major economic 
force in Southeast Asia. By 
harnessing the strength pro- 
vided by the exploitation of 
the country’s rich naturalre- 
sources, consttent and long- 
term development will be 

As one of the eleven for- 
eign banks in Indonesia, 
Hong Kong Bank is keenly, 
aware of the responsibilities 
of its position. Since it has a 
century of business experi- 
ence in Indonesia and has de- 
veloped extensive relation- 
ships with Indonesia’s 
Southeast Asian neighbours, 

it is well placed to play a 
con tinuing role in Indonesia’s 
long-term development and 
to support the Fourth Five 
Year Development Plan 
which commenced on 1 April 

106 years in Indonesia 

The Hong Kong and Shang- 
hai Banking Corporation was 
founded in Hong Kong in 1864 
and commenced business 
during the following year 
with offices in Hong Kong, 
Shanghai and London and a 
wide network of agencies 
throughout Asia. 

Sugar was the Banks origi- 
nal raison d’etre in Java; it 
commenced to Bnanw the 
export of sugar from Java to 
the two main refineries in 
Hong Kong Hie Bank would 
advance against shipments 
of sugar represented by doc- 
uments presented by Java’s 
sugar exporters. 

Hi the early years, it could 
be that' three golden 
threads ran through the 
Bank’s activities in Indone- 
sia. Apart from the sugar 
trade, it was involved in the 
homeward remittances by 
Chinese settlers to their fam- 
ilies in China. These Chinese 
inunigrants .mostly lived in 
the towns, and were engaged 
in small and medium-sized 
business. The Hong Kong and 
Shanghai Banking Corpora- 
tors pre-eminent position in 
China and its solid reputation 
among the Chinese meant 
that it was the obvious inter- 
mediary for remittances to 
Hong Kong and the China 

. Hie third thread of the 
Bank’s business centred on 
the financing requirements 
of Anglo-Dutch plantations, 
as well as British firms such 
as Maclaine Watson & Com- 
pany and Harrisons and Cros- 
field Ltd. Negotiation of Mils 
Of exchange for imports and 
a range of exports other than 
sugar (such as ruer, coffee 
and tin) proved generally 
profitable over a number of 

Hong Kong Bank’s Head 
Office is stfil maintained in 
Bong Kong, which is now rec- 
ognized as the world’s third 
largest financial centre after 
London and New York. With 
its many subsidiaries and as- 

Soetanto Calls On IGGI Donors 
To See Women 
As An Investment Resource 

^' Addressing IGGI repre- 
sentatives eaziy this month, 
Indonesia’s State Minister 
pFor the Bole of Women, 
> ; Mrs.L. Soetanto, SH^ ap- 
^pto nd fi d and amplified the 
• finding s of an informal World 
‘ Bank Report, “Indonesian 
- Women and Development”, 
> which held that the country’s 
development goals can be 
better met if so-called “worn- 
; eh*s issues” stop being con- 
sidered only as an isolated 
■j concern of social policy— and 
. that measures of the produe- 
j tirity of women as a work- 
forte start being brought into 
the mamstream of develop- 
i iranl inject dedgn. The re- 
. port was requested by the 
-Government of Indonesia to 
assist their ambitious policy 
goals for the role of women in 
: the Repehta IV development 
calendar (1984-3989). 

■ The World Bank report had 
observed that; “whfie Gov- 
‘ eniraent policy acknowl- 
edges both the important 
contribution women can 
make to development and the 
benefits accruing , to women 
from development, the main 

thrust of these (current) pro- 
grams focuses on women in 
the family, as the smallest, 
yet crucial unit of society. 

This point had been made 
in the Report to explain the 
thrust and workings of the 
country’s largest two current 
efforts to enhance the role of 
women, known locally as the 
“P2W-KSS” government pro- 
gram for a healthy and pros- 
perous family and the “PKK” 
program for fostering family 
welfare. PKK is a non-gpy- 
eraraent community-based 
movement of village level de- 
velopment operating under 
the aegis of the Ministry of 
the Interior. Though neither 
a women’s nor formally a 
government organization, 
PICK’S leadership is formed 
by the wives of chief execu- 
tives at each level of local 
governance (e.g. provincial 
governors, village heads) un- 
der the guidance of thqir hus- 
bands ami in their official ca- 

Indonesia has, by world 
standards, very advanced 
legislation and concern for 

women. In 1984, the Govern- 
ment ratified the “Conven- 
tion on the Elimination of all 
Forms of Discrimination 
Against Women” into law, 
four years after its signing in 
Copenhagen, in July 1980. 
Just over half the cwmtry*s 
population of 158 million peo- 
ple in 1983 were women, and 
their concerns are taken seri- 
ously enough that, in 1978, a 
junior minister's position was 
created to deal with them 
which was upgraded to the 
office of State Minister in 

The nation’s formal Guide- 
lines of State Policy in Indo- 
nesia devoted a chapter to 
the role of women for the 
first time in 1978, and its 
Third Development Plan 
(Repelitam) sought to cre- 
ate an environment in which 
there was greater recogni- 
tion of women's role in devel- 
opmenL Daring Repehta JH, 
OS. $10 miffion was allocated 
to women’s programs aimed 
at overcoming backward- 
ness; low productivity, poor 
health and inadequate family 
living standards. 

sodates, the Bank now rates 
amongst the 20 largest bank- 
ing groups in the world. In 
Hong Kong, Hong Kong Bank 
rinminfltfts the hawking scene, 
with 300 branches and a ma- 
jority stake in the Hong Kong 
Bask, the second largest 
Hong Kong-based bank. Hong 
Kong Bank also issues some 
80 per cent of Hong Kong’s 
currency, and acts as princi- 
pal hawker to the Govern- 

In the late 1950s and early 
1960s the Bank acquired the 
entire share capital of the 
Mercantile Bank Limi ted and 
The British Bank of the Mid- 
dle East This was followed 
by the acquisition of Antony 
Gibbs ad Sons Ltd. a London- 

based merchant bank, the es- 
tablishment of Wardley I 
Limited, Asia’s largest and 
most successful merchant 
bank, and the purchase of a 51 
per cent interest in Marine 
Midland Banks, Inc. the 14th 
largest bank in the USA. 

The Hong Kong Bank 
group has also expanded in 
the fields of hire purchase, 
insurance, investment and 
portfolio management, trust- 
ee and nominee services and 
has gnhqtflnrtai interests in 
shipping, air-transport, travel 
and m mmmijcatons 

Today, the Hong Kong 
Bank group has more than 

1,000 branches in 55 countries 
and has total assets in excess 
of US$61 billion. 

Efforts to raise investment 
capital and bolster private 
sector participation in Asian 
economies have given spe- 
cial impetus to plans for the 
ASEAN Young Business- 
men's Meeting *85. to be held 
in Jakarta from 12th to 15th 
August The meeting is one of 
a series of activities being 
initiated by the Government 
of Indonesia in observance of 
“International Youth Year 
1985”, declared by a U.N. res- 
olution in its 34th General As- 

The importance of the 
event is underlined by its il- 
lustrious list of sponsors, 
starting with Indonesia’s 
President Soeharto and 
working down the ranks of 
ministers to the national co- 
ordinating committee chair- 
man, H. Alamsyah Ratuper- 
wiranegara, the country’s 
Coordinating Minister for So- 
cial Welfare. Though govern- 
ment funded, the private sec- 
tor , in the form of 
representatives from the As- 
sociation of Young Indone- 
sian Businessmen (HIPMI in 
its Indonesian acronym), will 
be or ganizing the event. 

“Under the general theme 
of ASEAN in the 1990’s, its 
economic challenges and 
prospects, we are addressing 
two main topics over the four 
days of the event: a look at 
young entrepreneurs as inno- 
vators and catalysts of 
change and national develop- 
ment in the region and a dis- 

ASEAN Young 
Businessmen’s Meeting ’85 

cussion on issues related to 
ASEAN economic coopera- 
tion,” says Soeryadjaya, Gen- 
eral Chairman of the AYBM 
Committee. The intended 
outcome of the event, besides 
its being a business mart for 
private brainstorming and 
trade discussions, will be 
three recommendations; two 
reflecting conclusions of fo- 
rum discussions and another 
declaring the need or liaison 
committees to increase eco- 
nomic cooperation. 

Soeryadjaya cited four 
reasons beyond the formal 
observance of Youth Year 
for Indonesia's interest in 
hosting such an event: “The 
picture of youth is of great 
concern to Indonesia's lead- 
ers. We have 1.5 to two mil- 
lion young people in the job 
market even' year, and the 
Government wants to en- 
courage the entrepreneurial 
spirit. Also, its coincidence 
with the 40th anniversary of 
Indonesian independence 
recognizes that one complete 
generation has grown up 
since then and it's a good 
time to reflect on the future. 
The economic backdrop is 
that Indonesia’s leaders have 
decided to strongly diversify 
into non-oil sectors of export 
manufacturing and all econo- 
mies in Southeast Asia are 
facing slowdowns from the 
high growth rates of the 1970s 
and finding it harder to main- 
tain the pace of growth." 

Soeryadjaya came to his 

organizing task by dim of his 
being the Foreign Relations 
Committee Chairman of the 
Jakarta Chamber of Com- 
merce, an organization with 

9,000 regular members, over 
20,0ft) direct members and, 
he estimates, about SOO.OOO in- 
direct members— that is, peo- 
ple whoso own organizations 
maintain memberships in 

their name. 

ASEAN, the Association of 
Southeast Asian Nations, has 
six members: Indonesia, Ma- 
laysia, Thailand, the Philip- 
pines, Singapore and, recent- 
ly joined, Brunei 

Invited Speakers 
and Panelists 


1. Mr. Alexander HAIG. For- 
mer Secretaire of State, 
Vnited Technologies. 

2. Mr. Washington SYCJP, 
Chairman of SJY Group. 

3. Mr. Ahnuav VIRAWAK, 
Former Thai Finance Min- 
ister, now Chairman of Ex- 
ecutive Board of Bangkok 

4. Mr. Kim WOO CHONG, 
Founder and Chair of 
Daewoo Corporation, South 

5. Mr. Takeo FUKUDA, For- 
mer Prime Minister of Ja- 

5. Mr. Mochtar KU- 
Foreign Minister. 

The Mandarin, Jakarta. 
Our location is only one of 
our strengths. 

— fry 

• VAi r : 


'X"f- - ■***’■ 


Being the one hotel situated in : 

Jakarta’s business centre certainly . ^ 

presents obvious advantages. 

For one thing, it will leave 
you with ample time to work out 
in OTr superbiy equipped health 

In the furnishings of our 
unusually large rooms for instance. 

And having Jakarta’s finest continental 
and Chinese restaurants within the hotel. 

Service standards throughout the 
hotel reflect a major investment in staff training. " - 
So that you will enjoy the same degree of excellence 
that is synonymous with The Mandarin, Hong Kong and 
The Oriental, Bangkok. 

The Mandarin Jakarta 

A member of Mandarin Oriental 

Hoag Kong: The Mandarin. Bangkok: The Oriental. Manila: The Mandarin. Jakarta: The Mandarin. 
Macau: The Oriental. Vancouver: The Mandarin. Singapore: The Oriental (1986). 

Kuala Lumpur. The Oriental (1986). San Francisco: The Mandarin (I9S6). 

Hong Kong: The Excelsior, an Associate erf Mandarin Oriental ■ 

For reservation, call G lb^adin^Hotelsof thd’IAbrkJ or your travel agent. 

Page 12 




RB< jja 
RM 35 
SIO 71 
Sin 33 
Vet » 

wo !i* 
ZDT % 

fifti % 

Art «« 
Bel 8 
Dai 15 
JBT «5l 

Te ' £ 

Aw W 
Jrt :*». 

Cl M'l 

58 - 1 
FR H l r 
W- 50'i 
-A 61 
Jl- «■: 

BAI J4*« 

n- 9fj 



Hilton Foresees Growth 
In Business Travelers 

If the Jakarta Hilton Inter- 
national's General Manager 
is right, Jakarta’s near-term 
future will be flush with ar- 
rivals of potential investors 
and local Jakarta offices of 
multinational corporations. 
“I can see a new breed of 
guest, the individual investor 
on a smaller scale,” says Mi- 
chael Schuetzeodorf, who has 
been with Hilton group since 
1969 and in Jakarta on vari- 
ous occasions over the Last 
10 years. 

Schuetzendorf attributes 
the growth of individual in- 
vestor visits to shifts in the 
priorities of the Indonesian 
government since 1984, when 
President Soeharto initiated 
a severe re-tooling of the In- 
donesian economy following 
a downturn in world oil 
prices. Oil has accounted for 
up to 75 per cent of the coun- 
try's foreign exctiange earn- 
ings in some years. 

Schuetzendorf also sees In- 
donesia's leading role in 
ASEAN, the Association of 
Southeast Asian Nations with 
six member countries, as an 
influence on many multina- 
tional companies with region- 
al offices in Singapore to lo- 
cate local representatives in 
Jakarta. In his view, oD com- 
panies are especially likely to 
take advantage of Jakarta's 
improved urban infrastruc- 
ture. He also notes an in- 
crease in European business 
travelers. “They’ve come to 
see what's going on," he as- 
serts, and this may lead some 
who do business to stay. 

The Hilton has recently 
opened its Garden Tower, 
and plans an apartment com- 
plex as wen, which is expect- 
ed to be completed in about 
two years. Schuetzendorf 
claims the group is actively 
looking at new properties 
elsewhere in Indonesia, but 
has nothing yet in the pipe- 
line. He claims they are par- 
ticularly keen on the cities of 
Medan in Sumatra and Sura- 
baya in East Java because 
they are provincial business 
centers, so far both lacking 
any five-star hotel facilities. 


Jakarta Hilton 
Garden Tower 

After ten years in Jakarta, 
Hilton International opened 
the. 213-room Garden Tower 
extension in February of this 
year which adds a new di- 
mension to the Jakarta Hil- 
ton complex, one of the 
world’s most developed and 
spectacular city hotels. 

The new management of 
P.T. Indobuildco since April 
1983 led by the young and suc- 
cessful entrepreneur Pontjo 
Sutowo realized the need to 
provide facilities for busi- 
ness, home and social activi- 
ties and developed a new 
masterplan for the Jakarta 
Hilton complex. The revised 
masterplan includes an ex- 
tension of the hotel, two 30- 
storey towers of fully ser- 
viced A-grade apartments, 
additional sport facilities and 
an exclusive shopping center. 

The piece de resistance of 
the Garden Tower is the 
Penthouse, the Suite on the 
Top Floor, below a helipad, to 
cater to the visiting states- 
man or corporate chief exec- 

Jakarta Hilton International 

In 1971, site selection for 
the Jakarta Hilton Interna- 
tional was a choice between a 
location on Jalan Thararin or 
the present Senayan area; at 
this stage «hti open land with 
rice-paddies and huts, nestled 
around a river. Due to the 
foresight of P.T. Indobuildco. 
the hotel’s owners, the South 
Jakarta location was chosen 
by their chairman, Dr. Ibnu 
Sutowo, and preparation for 
its development began soon 
thereafter. Today’s city 
growth moves south, with 
about 20 high-rise office 
b uildings within a half mile 
radius of the Hilton com- 
plex-winch proves the wis- 
dom of Sutowo’s choice. 

In November 1974, the Ex- 
ecutive Club was officially 
opened by Prof. Emil Salim, 
then Minister of Communica- 

Leading Hoteliers Predict 
Continuing Growth in Business 

Hyatt Aryaduta Pursues 
Five-Star Rating 

Hyatt Aryaduta Hotel is 
due to break ground on a 135- 
room extension to the hotel 
this August and. according lo 
its General Manager. Carl D. 
La Porte, the intention is to 
improve the hotel's official 

Vie Jakarta Mandarin Hotel 

tions, Dr. Ibnu Sutowo, the 
Club’s Chairman and Mr. 
Curt R. Strand, President of 
Hflton International It is in- 
tended to create an environ- 
ment for social and sports 
activities, in a sophisticated, 
yet informal surrounding. 
There are currently 2,000 

The spectacular lobby’s 
first impression upon the ar- 
riving visitor is of over- 
whelming splendor, depicting 
a replica of the Sultan’s Pal- 
ace in Yogjakarta, Central 
Java It is hi g hli g hted by an 
antique, carved wooden 
screen that separates the 
Lobby from the Kudus Bar. 

One wall of the Taman Sari 
restaurant is of lava stone 
and it forms an orchid garden 
and waterfalL The original 
Taman Sari ruins in Java 
give a hint of impressive lo- 
tus ponds, springs and bath- 
ing pools, and the shady bow- 
ers and subterranean 
waterways that once existed, 
me Peacock Cafe adjoining 
the Taman Sari has colorful 
batik fu rnishing s with this 
modi Peacock chairs are in 
every one of the 396 guest 
rooms and suites. Live pea- 
cocks roam the hotel gardens 

The Jakarta JSZco int erna t iona l Hotel 

Second Phase of Borobudur 
Renovation To Be Complete By September 

Hotel Borobudur Inter- 
Continental has announced 
the next stage of its plan 
“Building For me Future". 
Having completed a 
U.S. $3,000,000 fire protection 
and upgrading program of all 
guest floors, the hotel has 
now embarked on a major 
renovation of the second and 
third floor public areas. 

The first stage, which was 
completed last April, has re- 
sulted in a completely new 
lobby area, me major fea- 
ture is the gracious Royal 
Central Javanese architec- 
ture with new decor and fur- 
nishings. Of particular note 
are the hand-carved ceding 
panels and specially designed 
hand woven carpeting. As 
part of the scheme the exist- 
ing front office has been relo- 
cated to a central island posi- 
tion which greatly facilitates 

What do you do when 
you want a good night 
out in Jakarta 
and promised yourself 

a good glass of beer 

VK * 

fust follow the signs 

guest handling. All front of- 
fice operations have been 
computerized. Also being in- 
stalled is a new electronic 
telephone system with world- 
wide direct dial facilities in 
all guest rooms. 

Tbe next phase of the pro- 
gram will produce an en- 
larged entrance area, with 
two grand marble stairways, 
a redesigned shopping ar- 
cade and a new third floor 
office and shopping complex. 
This is an due for completion 
by September this year. 

Hotel With a History 

Few hotels have had such 
an exciting history as Hotel 
Borobudur Inter-Continental 
From the burying of four buf- 
falo heads to bless the build- 
ing by the late President Soe- 
kamn in May 1963, to the 
opening of the hotel by Presi* 

dent Soeharto on March 23, 
1974, it has a history em- 
broiled in the politics of a 
nation. The ate of an Army 
Academy and quarters which 
were demolished to make 
way for what was then the 
hipppst b uilding in tbe coun- 
try, and its growth in stages 
paces tbe development of In- 
donesia. Envisioned by Soe- 
karno as the most luxurious 
hotel west of Hawaii with 
16 floors and only 220 rooms, 
its rise stopped at six floors 
with the fhangp of govern- 
ment in 1965, when all presti- 
gious projects were halted. 

“It was just a hollow struc- 
ture when, as Minister of 
Communications, I was as- 
signed as Project Officer to 
renew efforts to build in 
1969," said Frans Seda, who is 
now a private businessman. 

Hyatt Aryaduta Hotel 

government rating as well as 
to increase hotel capacity. 

“We renovated existing 
rooms in 1984. You could say 
we now have five-star rooms 
with a 33-star lobby. We’re 
going after that fifth star 
with the addition of the new 
extension and complete reno- 
vation of the hotel's public 
areas,” said La Porte. The 
hotel, on Jalan Prapatan, has 
been managed by Hyatt In- 
ternational for 10 years and 
currently has 225 rooms. 

“The building is an archi- 
tectural miracle," said Seda, 
because of the subsequent 
change of plans from 220 to 
866 rooms and the adding of 
two more floors. This is visi- 
ble only on the sixth floor of 
tbe hotel where huge pillars 
were built to reinforce the 

The building and training 
was speeded up for the PATA 
(Pacific Area Travel Associ- 
ation) Conference held in 
April 1974 for which the hotel 
had been selected forthe con- 
vention of 1300 delegates. 475 
rooms were opened and some 
public areas, with a trained 
staff of 900. 

Today, Hotel Borobudur 
Inter-Continental is consid- 
ered one of Indonesia's finest 
hotels. It is also one of the 
few hotels in the world to be 
built • on 23 acres of land- 
scaped land located in the 
center of a capital city. 

“The new lobby will have a 
mini-atrium area. Rooms win 
be about 10 square meters 
each and will feature desks 
and lighting designed for 
businessmen." La Forte add- 
ed. He estimates there will be’ 
about eight new rooms per 
floor in the extension wing, 
Also planned is a four-storey 
carpark with an outdoor pool' 
on top, two squash courts and 
a health club. The construc- 
tion agreement was signed is . 
early June and La Porte esti- 
mates the extension and ren- 
ovations will take 22 months, 
for completion. Shimizu, a; 
Japanese firm which built 
the new’ Hilton Garden Tow- 
er has been retained for the 

As La Porte describes it, 
the hotel was one of the first 
modem facilities in Jakarta 
and was managed for Us lira 
two years by UTA. the 
French airline. “Hyatt took 
over management in 1976." 
notes La Porte. “There was 
only the Hotel Indonesia and 
the' Borobudur was still under 
construction then." La Porte 
notes that tbe Hyatt manages 
two additional hotels in Indo- 
nesia, one in Surabaya which 
has major business traffic to 
Jakarta and another in Bafi, 
which services tourists from 
Japan, Europe and Austra- 
lian markets. 

“Until two or three years 
ago up to 70 per cent of our 
traffic was Indonesian. This 
trend has begun to reverse 
itself." Now about 60 per cent 
of the guests are European 
and 40 per cent Indonesian— 
with 75 per cent of those cli- 
ents coming from Surabaya 
or Bandung, major provincial 
business centers in east and 
west Java, respectively. 

Hyatt Aryaduta is owned 
by a public company, 
P.H. Hotel Prapatan, but 85 
to 90 per cent of the company 
shares are controlled by the 
Diah family, notes La Porte. 
Mrs. Diah is the company’s 
Present-Director. Her hus- 
band, B JL Diah, is the pub- 
lisher of two daily newspa- 
pers, the Observerin English, 
and Merdeka in Bahasa Indo- 


Interview with The Minister of 
Information of Indonesia Mr. Harmoko 

Q: L We haw read Uni lbe government Intends to establish a new 
licensing procedure for newspapers in In d ones i a Can you explain this new 
system its ini^nrfprf effects. 

A: It Is not quite con-ecl to say that we intend to esta b lis h anew Mcenslng 
procedure for newspapers in Indonesia The new licensing procedure has 
actually been established, and is now betas Implemented. 

ln 1982 a new press law was promulgated as a substitute for the old mss 
Law. Under Act no. 1L 1966, every newspaper to be allowed U) gel published, 
needed a publishing license. This license could be revoked if the newspaper 
concerned deviated from its commitment lo observe the principle of the 
tree and responsible press. Tbe insertion of tins danse was motivated Ini a 
desire to make this rule really bite among tbe Journalists and other 
operators of the print-media. 

In tbe new press law (Act no. 2L 1982) Uds danse was rescinded on tbe 
basis of a general assess men t among tbe press, tbe public and tbe govern- 
ment to tbe effect that the idea of tbefree and responsible press had already 
become sufBdenQy institutionalised as a new value within the realm of 
press freedom. As a result. Ad no. 21, 1982 moves ahead with a strategy to 
achieve the longer -term objectives of National Press Development 

These objectives include, apart from the built-in { voluntary) observance 
of the principle of s free and responsible press, also the sound and equitable 
growth of newspaper enterprises in this country In which the Journalists 
sboukl collectively be assured a certain part of tbe shares. With tbe 
joarnaUsts thus becoming co-owners of tbe newspapers, it is expected that 
they will lake a more dtred part In consolidating the effective practice of 
the principle of tbe free and responsible press. The new licensing procedure 
has been designed to deal with tbe requirements of the (publishing) 
enterprise rather than with the (publishing) rights of citizens. 

Q: 2. Can you explain in what ways tbe information ministry worts to 
assist development planning targets? 

A: To help achieve development planning targets, tbe Department of 
Information does two kinds of information work: 

1) Basic information which is primarily aimed at what we commonly call 
“nation and character tmfldtng." msHUnig m the minds of tbe people tbe call 
of our nation's destiny which is to create, domestically, a just and prosper- 
ous society In material and spiritual toms, and internationally, to lake an 
active pari in tbe development of a world order based on independence, 
lasting world peace and social justice. That is the ideological side of our 
Information work which provides an elaboration of the Bve principles of our 
Pancasila ideology. 

2) Specific information on a wide range Dr subjects covering tbe political, 

economic, social, cultural and educational as well as tbe fields. 

It is obvious that, undo- tins vast umbrella of. information activities, such 

farmers to gel used tol^rl^TRing techixiJog^ScarejSw^^^wi 
do such information work collectively, with tbe Department of Information 
as tbe coordinator, and the “technlcar Departments) and tbe public each 
taking an active part in the work. 

Q: X What is the content weight of your information programming? 

A: The content weight of our information programming basically follows 

the priority targets set by tbe government in carrying out the national 
development policies. The main priority lies in-economic development with 
agriculture as ils emphasis. Tbe main objectives are to harness our capacity 
to maintain self-sufDckncy in food production, and to step up industrial 
development with a view to producing industrial equipment and tools for 
both heavy and light industries. In the social sectors, among other thin gs 
programs pertaining to the planned family system are also verv impo rtant 
lo check and reduce ibe growth rale of our population. 

As to the content weight or our Information programs, let us take a closer 
look, for instance, Into our television broadcasts. Is B8i tbe news and 
information broadcasts made up about 27% of the drily average of 8 
broadcast boors. The educational and religious programs accounted for 
24%, whereas the cultural and. entertainment broadcasts, an important 
program for nation and character building purposes, took about 47% of tbe 
broadcast hours. The remaining 2% was reserved for sundry broadcasts. 
The figures for 1982 showed more or less the same pattern. 

if we are to do a content anaylysts of tbe broadcast items, we will see that 
the general pattern follows the priority rating which 1 have mentioned with 
regard to tbe objectives of our natiooal development prog rams “Nation and 
Character Budding" Information ott the basis of our Pancasila ideology 
ranks high on the priority list 

Essentially, all TV programs, no matter on what subject have tbe 
function of helping to motivate tbe people toward fulfilling their rights and 
obligations, as members of the Indonesian nation, on the haste of the 
PancasQa Ideology. Further, tbe ecooomlc/agrt cultural and family planning 
broadcasts also enjoy a high priority rating. On tbe whole, tbe broadcasts 
represent a weO balanced ratio between information urograms in the 
economic and those tn the social sectors running in the order of between 
60% to «% respectively, 

Q: 4. How much of your infor mation programming Is genoated in 
Indonesia, rather than just translated or reoroadcast and bow do you 
develop such material? 

A: By and large, our information materials are produced in indnwwmi 
They always have been. We produced them tn tbe years of onr physical 
struggle, when we had to defend onr newly gained freedom against efforts 
on the part of the colonial power to re-impose colonial rule in Indonesia. We 
produced them in the rears following the international recognition of the 
Republic of Indonesia, we produce them now and will mwtmno to do so in 
tbe future. We realize the importance of tbe nnttmany produced informs- 
tion material, as it can always be taHor-suited lo the needs ofthe people. Of 

course, references have somet imes been made to material written by 

W^reganTto^riCTiskw^^rams. 80% of $em*are nationally 
produced, while tbe remaining 20% or tbe programs are still Imported. 

As to bow we develop the informational material, on tbe basis of the 
"concerted effort" system I referred to above, each and every Institution In 
the Center or in the Provinces is entitled to contribute information material 

television station in the near future? Is there a likelihood the state television 
station will begin to accept advertising? 

A: We have no intention to develop a private television station in the near •££ 
future. There is no likelihood, either, that the s t at e television system we . 
have will begin to accept advertisng, Only three years ago we moved in just 
tbe opposite direction, when we discontinued advertising on TV. Television .' 4 -' 
is such a powerful media of mass comraunicalion that, given the rigid 
competition m the sales promotion tecbnjques'developed by the producers . J* 
of consumer goods, we ought lobe careful m not allowing harmful values to v' 
penetrate wto the nundsot the pubhc by means of advertising. . 

Q: 6. Are there Independent provincial media m Indonesia? .< 

A: Hoslof the provinces in Indonesia have their own newspapera We do v ;; 

not consider them as provincial newspapers. They are national newspapers .-i\ 
p u blished in lbe provinces. Tbe press in Indone s ia is a social to stilnli o n. and 
not a government agency, or some kind of public corporation. Privately " 5 
owned, tbe newspapers do not align themselves with either tbe government ‘ . <■ 
or any political organization. Tbe newspapers are independent. They are 1 
tree to express their opinions. 

However, in the exerosa of Uds freedom, they observe their nhUralkni W 
be responsible for what they wnle. This Is our press system: a free and. &l 
the same time, responsible press. Thor relationship with tbe government S • 
and the public is based on the principle of positive interaction, an tnteraetiDn - 
governed not by distrust, bat by mutual commitment to Jointly weak for tbe 
attainment of onr common objectives. 

The rules applying to the newpapers are afcn valid for magazines. About - 
90% of the m agaa n es in circulation, are published in Jakarta. 

with tbe regard to radio broadcasts, the government mandrills a system" 
of radio networks throughout tbe country, with the Center (RR1— Radio , 
R epublic Indonesia) in Jakarta, and with regional and local statkwjt scat- 
tered anover Indonesia. RRI broadcasts 24 bourse day. There are about 568 ' 

private radio stations which broadcast mainly cultural and etderiaanoenh;. 
programs. They have, however, to relay RRI news broadcasts every day. 

Q: 7. What was Indonesia's position on the proposals for a “new ta!finna-.:.'v,-' 
tion order" at the United Nations? What is your attitude toward the qraBfjM * 
of news coverage in Indonesia by the Western press? 

A: Indonesia 1s all for the establishment of the “New International ami 
Communication Order" (N1XCO). Indonesia was one among the membersoC’. . - 
ibe non-aligned movement, who laid the foundation stone of the New Order " 
in tbe Bela of information. . 

At the Conference of the Ministers of Information of the Naa-afigaed 
Countries (Cominac) which was held in Jakarta toward tie end of January: 

1984, 1 was elected Chairman of the Conference, and chairman of -the' 
Intergovernmental Council (ICC) wbicbwastocoordinatethebimleinaitx- 

Uon of the decisions ri Cominac. u you look dosely at the Comiaacdecishutf : 

of 1984. you would immediately recognize their dear message. As Chrinnafl- -'- 
of tbe ICC, I have me mission to fund on tbe basis of Comtnac’s message; l 7>' 
have to work for the furtherance of the aims and objectives a t maSr"-7 
With regard to the news coverage on Indnapyta by the medtaoT the, :> 
developed countries, my assessment is that, on quite a nnmhor at oCC89> 
stacs, these reports did not represent a truly objective view of the sttnatkn. 


tattoos were quite off the znarST Sometimes they even distorted tiMf 
age. Without prejudice to the motive underlying the often distmted 
,Uos of news reports, there seems to have been a gap in the perce 
“news" between the media operators tn the devetojting rountriessB&tbon -t 
in Uk developed countries. Tins gap has in turn been raixyt by a difference ^ 
m the “philosophical outlook" between these two groups of 
regard to lbe concept of press freedom. 

Should tins freedom be “absolule” (as the press in developed cunnS r fag y- 
would say), or should it be coopted with a certain sense of respansibBiljtfnt 
the part of the media operators? So tor, lUs gap has not been bridged, aad 
Uus has caused concern among the non-aligned co unt r i es tn particBiirabdv' 
among developing countries in general ftr ibe simple reason that RlBllWltf ■>’ 
countries which nave often to suffer from the biased reports ‘ 

from western media sources. As chairman of the IGcYsee ti may 
contrthuteay share toward narrowing this cop. 

Q: 8. Thcreseemstobeasti^ritotoaqarrithebaseofIndoiies»F^ 
media technology, particriarty in the case of Lrievidm ssie&ttes.'IVitb 
concern for education tn Repebta IV, wtU there be su emdnlstMB 
priontym programming? 

A; You are ngrt, indeed. There has been an increase hi the bqd^. 
allocation for educational programs on television. Ttit three aograntt — j 
winch now appear regularly on TV are; .■ ? 

1. A tweweekiy program for lbe Open Uriverstty. ooatriabs yktaariiL-'- 
S e ^ U T^ y ? l !Sf'. 2 Awe^educri*Brip™raoiu 
of “I tore I n do n esia winch Is an exercise In good morality trefiBBR 
program is clad in weekly episodes of short stuns in which tbe 
students ultimately prevail over tbe “bad" s a wreklv ? 

program in the sgfcs of "Education 
gtvtog an Illustration of the struggle of our forefrihets far 
todeparienee off Indonesia from cotomal rule , 

Sari Pacific GM Sees No 
Uigent Need For New Hotels 

f* take 

mwse firm' * 

*» Hiiioii GaS 1 ^ 

act ^edforu* 



>ear s bv UTa . 

** airline. "Hvab 
r raaftagemem'^^ 

•s La Pune, -r^r* 

' fte How IntoSL** 
««««» ihen." uSJT 


5 a- one ir, Surabaya iZ- v 

major baiar.ess iralfic is " 
■^and another^ 
«h semces lourists fS 
^ Europ, J** 

3 marker. ^ 
Until two or three 
> upt Q Taper cent of£ 
«fic was Indonesian. Tv 

nd has begun to revQa 

Now about 60 per c« 
Uie guests are Eurmea 
1 40 per rent IndonesiaB- 
lii 7y pi-r cent of those cb- 
S t-umirg from Surabaya 
Bandar.", mzjwpnniocu 
sirjpss centers a east ad 
f*t -lava, res^ctively. 
Hyatt Aryaduta is ownai 
a public company, 

H. Hotel irapaian. bin & 

90 per cot it of the companv 
ares an* i.-ontr^Jed by tfc 
ah Sandy . r.snes La Pont 
rs. I*sah :s the company^ 
resident- director Her bus- 
jnd, B M JjsaS. k" & pub 
ihCT i»f vai. daily aevrspa- 
sx :/!o v r.Wr. era Engirt 
«J Mtrdok.i :t: Bahasalndfr 


Tte . General Manager of 
Jakarta's Hotel Sari Pacific, 
Didter Toumeboeuf, consist . 
■era the city to have enough 
; hotel bed. space at present, 
and the need for more unlike' 
lyiatbe short term, given the 
current plans for expansion 
at various urban hotels and 
new hotels with plans or con- 
struction aireaciy underway. 
Era recent interview, he add- 
ed' that, his own group, Pan 
Pacific Hotels, has no plans 
for more Indonesian proper- 
ties at present ■ 

-Hotel Sari Pacific, which is 
marketed. as. “a. hotel with 

heart" is well-located near 
Merdeka Square, fe the city 
centre. They have a tradition 
of - aggressive special food 
and entertainment promo- 
tions, and have worked to. po- 
sition the hotel as a key en- 
tertainment centre, in a city 
where hotels are virtually the 
only providers of upmarket 

The hotel management 
cultivates its French .ambi- 
ance with a kind of mock 
Paris street life in its lobby. 
The result has been that its 
500 rooms are often filled 
with Europeans, who com- 


prise 32 per cent of the clien- 
tele. Another 22 per cent are 
Japanese business people 
and 14 per cent are Singapor- 
eans. Though there are some 
airline crews using the facili- 
ty, Toumeboeuf says there 
are few tourist groups stay- 
ing in the facility, since they 
are mostly in transit at larger 
hotels. A testament to the 
popularity of the hotel's am- 
biance Is reflected in its pop- 
ularity with expatriate and 
local residents, who com- 
prise 17 per cent of the Sari 
Pacific’s regular guests. 

Commenting on plans to 
make Jakarta a stopover des- 
tination in the government’s 
ambitious tourism develop- 
ment program, Toumeboeuf 
suggested that coordinated 
marketing of areas like, the 
so-called “Thousand islands” 
or Pulau Petri' has yet- to be 
done and that the city win 
need a stronger transport 

Astra’s First Venture Into the Hotel 
Business, Managed by Spam’s Sol Group 

Jakarta Should Be Marketed 
With Shorthaul Sidetrips Says 
Mandarin General Manager 

Almost 60 per cent of all 
visitors to Jakarta in 1984 
were tourists, according to 
government statistical re- 
ports. Most were eh route to 
Bah, which in some places of 
Europe is better known by 
nwmp than Tndn n pJda itself. 
The challenge of increasing 
tourism growth by 14 per 
cent annually m the Repeli- 
talV five-year plan (1981- 
1985) includes turning those 
travelers' transit stops in Ja- 
karta, the nation’s capital, 
into longer stays. According 
to the General Manager of 
the Mandarin Jakarta, Dan- 
iel McCafferty, the way to do 
tt is by creating tours to Ja- 
karta coupled with other 
nearby deffinaHnns 

“The potential for tourism 
here is great, if properly mer- 
chandized and packaged,” he 
said, “especially so if Jakarta 
is coupled with another desti- 
nation, perhaps the Thousand 
Islands or with Yogjakarta 
and Solo in central Java or 
Bogor, and Puncak in the 
hills above the city AH three 
are within relatively short 
distances of the city. 

McCafferty maintains that 

Indonesia generally, “has all 
the ingredients to become a 
top tourist destination.” The 
new airport in Jakarta is a 
plus, he says, but caution s 
that the tourism infrastruc- 
ture needs improvement if 
the city is to expand its pre- 
sent status as the political 
and business center of the na- 
tion to a tourism center as 

The Jakarta Mandarin is a 
member of the Mandarin Ori- 
ental Hotel group, and a sis- 
ter facility to the renowned 
Oriental in Bangkok and 
Mandarin in Hong Kong, re- 
cently nominated as two of 
the. three finest hotels in the 
world by readers of the influ- 
ential magazine, Institutional 
Investors. In keeping with 
the group’s tradition of excel- 
lence, The Mandarin Jakarta 
was recently voted the best 
businessmen's hotel for ac- 
commodation and food and 
beverage facilities in a poll 
conducted by Asian finance 

The hotel has its own pur- 
pose-built staff training cen- 
ter staffed by a Ml-time 
training manager. McCaf- 

ferty beams, “Staff attitude 
here is a direct reflection of 
management’s attitude. We 
try to instill a positive atti- 
tude into all our employees 
throu gh OUT ongoing in-hOUse 
t raining 

In a city where business 
facilities are not always easi- 
ly available, The Mandarin 
Jakarta has also developed 
one of the best Business Cen- 
ters among the four top 
ranked hotels. Individual 
travelers doing business in 
Jakarta have easy access 
there to secretarial services, 
radio paging, world process- 
ing, telex and message-tak- 
ing services. Facsimile and a 
larger wordprocessing ma- 
chine have also been recently 

Though compactly tucked 
into a small land area, the 
hotel overlooks the Welcome 
Monument in the center of 
the financial and commercial 
district of Jakarta along Ja- 
lankLH. Thamrin. The 29-sto- 
rey building, with 504 rooms 
that include 19 suites, is with- 
in close proximity to airports, 
major foreign emhassifts, in- 
ternational banks and corpo- 




For chose who are seeking the 
comforts and hospitality of a 
true five scar hotel ... 

Jakarta JUttcn Jhtematknal 

• Warm and friendly hospitality. 

• Refurnished comfortable guest rooms for 
the travelling businessmen. • Large and 

. small function rooms for your banquets 
and meetings.* Complete sports fatalities 
for your dally fitness routine. 

And for those who are 
seeking more room for 
extra comfort ... 

• Extra large deluxe 

-L j&Cj rooms, including a 
*bemhousc with 

• A welcome drink 
upon check-in. 

m Tropical fruit basket in 
V 1 ' your room.* Clark Hatch 
Centre and Sauna. 

"/ • Private Garden Lounge. . 

Available for all guests ... fully 
equipped Executive Business Centre 
including IBM Word Processor, 

±V Xerox Facsimile and UPI World 

Jakarta Hilton International 


Didier Toumeboeuf, 
President Mantis; 

Hotel Sm Pacific 

and communications infra- 
structure to hold travelers in 
the .area. However, he ap- 
plauded the efforts of Joop 
Ave, the Director General of 
Tourism, to use the formal 
opening of the new airport at 
Cengkareng this month as a 
tourism promotion event. 
Ave has invited travel trade 
press representatives from 
20 countries to attend the of- 
ficial opening, to be made by 
President Soeharto, where it 
is rumored the airport will be 
formally christened with a 
new name. Presently, it is re- 
ferred to by the name of the 
village in which it was built. 

Extensions of hotel capaci- 
ty are just completed, 
planned or underway at three 
city hotels, the Hilton, Boro- 
budur and Hyatt Aryaduta 
which will add over 450 new 
rooms to existing Jakarta fa- 
cilities. Three new hotels 
have also been announced or 
are underway: Westin Land- 
mark, Four Seasons Jakarta 
and Novotel Oriental They 
are due on stream in 1987 or 
1988 and will add over 1200 
more rooms to the city's ca- 

Spain's Sol group of hote- 
liers will manage and market 
the new 418-room Ball Sol ho- 
tel in a three-way partner- 
ship with PT Astra Interna- 
tional Inc., a large Indonesian 
conglomerate, and the Ku- 
wait Investment Office, 
-which oversees that oil-rich 
country’s foreign financial 
transactions. The Spanish 
group is the largest in a coun- 
try which has more tourists 
than population in holiday 
season and, according to its 
Executive Director of the 
Overseas Division, Mr. Or- 
denas, they are the largest 
resort hotel company in Eu- 
rope: “Of 94 hotels, we have 
only 12 business hotels in 
towns. The rest are resorts,” 
he noted 

Sol's international division 
was created less than two 
years ago and has already 
leapt eastward into Bali and 
westward into Santo Domin- 
go to open a Carribean prop- 

The group was founded by 
its current president, Gabriel 
Escarrer Julia, 25 years ago. 

This is Sol's first property- 
outside ■ of their European 
stronghold and Escarrer has 
reportedly given it a great 
amount of personal attention. 
"He comes to Indonesia 
about once every two 
months," noted B.L Tan, Fi- 
nance Director with Astra In- 
ternational and coordinator 
of that company’s involve- 
ment in the Bali project 

Tan went to Spain to re- 
view the Sol group operations 
in 1982 and says he was so 
favorably impressed by their 

efficiency and sophistication 
that he decided immediately 
in favor of their partnership 
on the project. Sol’s people 
had approached Astra Inter- 
national about the partner- 
ship, and Tan had been sent 
on an exploratory mission to 
find out more about them. 

“Tourism is one of the fast- 
est growing of international 
businesses, ” noted Tan, "and 
the government of Indonesia 
is trying hard to eventually 
make it the number two or 
three earner of foreign ex- 
change. We also have a 
unique tourism product, for 
example, Bali." 

Ordenas says the hotel is 
intended to be a conference 
and convention site, as well 
as a holiday-makers' resort 
Toward that end, the consor- 

tium has included seven con- 
ference rooms at the facility, 
including one large enough to 
accommodate 300 people. 

Roland Silva, who Is char- 
acterized by Ordenas as one 
of the world’s top landscape 
architects, has designed the 
extensive gardens on the 
property. “People will want 
to be with nature in Bali," 
surmises Ordenas, "so we 
have incorporated open 
spaces everywhere. We have 
a lobby that looks out onto the 
beach and the open area next 
to the pool and between the 
major buildings is 
40,000 square meters." 

Headquartered in Mallor- 
ca, the group is highly inte- 
grated in Us European opera- 
tions. They make their own 
ice cream, operate bakeries. 

The Queen Beer 

Visitors to Indonesia 
soon become familiar with 
the bright red signs which 
identify bars and restaurants 
and at the same time pro- 
mote Anker beer. 

Anker beer is Indone- 
sia's most popular local beer. 
It is brewed in Jakarta by P. 
T. Delta Jakarta, a partner- 
ship of overseas brewing in- 
terests and Indonesian inves- 

The company employs 
750 staff in its plant at Pltiit in 
northern Jakarta and in addi- 
tion to its best known product 
Anker beer, it also produces 
Three Horses stout, Shanta 
super shandy soft drink, and 
since November 1984, Carls- 
berg beer. 

For local residents and 
visitors, leading local brands 
of beer often come to symbol- 
ize a particular city or coun- 
try. Anker beer is an institu- 
tion in its own right, 
identified with Indonesia by 
many people around the 

If you like a pub atmo- 
sphere try the Jaya pub. 
There you are among Jakar- 
ta's fiw-loting crowd an in- 
ternational gathering of peo- 
ple who enjoy live music by 
the Jaya pub's own band. 

Another Anker sign will 
take you to the newest night- 
spot in Jakarta, the Federal 
Club. The perfect place for 
dinner while listening to live 
country and western music 
or a jazz combo. 

meat factories, car rentals, 
buy their produce direct 
from the fanners and are 
considering the purchase of 
their own industrial fishing 
boat. Their own boutique also 
markets holiday clothes un- 
der the Sol label. 

They have also created a 
concept that bridges the non- 
stop bonhomie of the club 
concept and the creature 
comforts and aesthetic de- 
tails of a five-star hotel. Rem- 
iniscent of the legendary 
“G.O.’s” or professional “or- 
ganizers" of activities at the 
club, the Sol group employs 
500 of its own house-trained 

Unlike the French proto- 
type of the holiday club con- 
cept, the Sol group offers 
amenities like room service 
and a selection of restau- 
rants. The Bali Sol till fea- 
ture European, Chinese, In- 
donesian and outdoor grill 

The young-at-heart slop 
at the sign outside the Tana- 
mur for cold drinks and a hoi 
disco beat. 

For lovers of things hum 
and continental just follow 
the signs to Cas Espagnola. It 
specializes in Spanish and 
continental cuisine. 

For those who are into 
the giant disco scene, there's 
the new Stardust beaming 
out the best and the biggest in 
town with disco-videos, flash- 
ing lasers and star wars ef- 

Jakarta is full of sur- 
prises. Whatever your choice 
of entertainment it's all here, 
seafood restaurants, authen- 
tic Japanese Kara Oke bars, 
continental pubs and jazz 
dubs, elegant nightspots and 
casual discos. Just follow 
those bright red signs any- 
where in Jakarta for a great 
night out 


? ri 

Technology is most effectively transferred 

through people 

Since our first engineer set foot in Sumatra Technology is most effectively transferred 

over 55 years ago, Schlumberger has provided through people. That's why Schlumberger 

essential data for almost every major oil leadership in subsurface technology is matched 

field in Indonesia. Our aim is to continue by our investment in the recruiting, training 

to provide precise and professional well and career development of high-quality Indo- 

evaluation in support of the Indonesian oil nesian personnel for our worldwide opera- 

industry. tions. 






Garuda Hopes 

Air Pass and Longhaul Routes 
Will Fill Fleet Capacity 

Garuda is reputed to have 
the largest operating aircraft 
fleet in Asia, apart from Ja- 
pan Air Lines. Under its for- 
mer director, Wiweko Soe- 
pono, the airline had 
concentrated on building its 

fleet size and capability since 
1968. Last May, a new presi- 
dent was appointed. Reyen 
Altin Johannes Lumenta. He 
means to fill airplanes rather 
than buy more: “We have no 
intended physical expansion 


it's the first thing airconditioned rooms, first 

you'll notice about the Hotel class comforts, luxurious 
Sari Pacific. The natural spirit restaurants, 
of friendly Indonesian It's where you'll feel 

hospitality. Warm and at home. And it makes a very 

captivating. welcome change. 

And. quietly in the — 

background, international 4 

standards underline 3 

everything we do. For a ] 

refreshingly different style of mJ 

atmosphere and value. tSH 

Right in the heart of Tfim 

Jakarta's Central Business fill 

District With 500 spacious 

Hotel fori Pacific Jakarta 

The hotel with heart V 

JUluMH IWmfO Bo. JIM laliru. bufaneu. T* XJUT. C^fctKTTElSAKlP^CinC 

Mil* HTLSMUU FW mmi'W rann Bumf, Atony. is mud Hm KIM. TtA» 

IfcAb** Hrurt UTELL InvrumJ or 11 , hi M Hotri rfhcc or lrlq*aw Toi^. C.VJI4-M0I 
H_k K«g HJDKI 5tn*jp«. CJroH*r< o» w 

* ^ • MW *'«' S*l< THAILAND l«to bm IM 

BmMu Ray4 Olt Bw* Hart. PtnUra ■ VANUATU HOTtL U V*. 



before 1989. We must first 
take steps to achieve in- 
creased utilization of our air- 
craft Expansion will depend 
on the success of that utiliza- 

Lumenta wasted no time 
putting his plans into motion. 
In February of this year, 
Garuda introduced its new 
Indonesia Air Pass, which of- 
fers three flat rate travel 
packages to tempt overseas 
travelers to both stay longer 
in the country and make 
more use of domestic flights 
between provincial capitals. 
Garuda offers reserved 
seats, that may be booked in 
advance, in a US $300 option 
for 10 days maximum with 
stops in five cities, a US $500 
option for 60 days and 33 cit- 

Last month, Garuda inau- 
gurated another unique ef- 
fort to increase its longhaul 
tourist and business traffic, 
the “Interchange'’ operation 
with Continental Airlines of 
the United States. A single 
Boeing 747 aircraft will fly a 
new route from Bali to Los 
Angeles, with stops in Guam 
and Honolulu en route. 

Lumenta hopes to cement 
a deal with Thai Internation- 
al Airways similar to that 
with Continental, which 
would give Garuda increased 

A similar arrangement 
with Singapore International 
Airlines is also being negoti- 
ated, with an eye towards ac- 
cess to Japan markets in 
combination with the Garuda 
Indonesian Air Pass pro- 
gram. Again the teaser will 
be direct Bah access for SIA. 
which already flies to Jakar- 

Regional Routes 

In March of this year, rep- 
resentatives of New Zealand 
were in Jakarta to discuss 
Garuda access to Auckland. 
Besides offering a market 
there, Garuda would fly via 
Brisbane, which gives it an- 
other point at which to pick 
up passengers from Austra- 

Cathay Pacific and Gar- 
uda have held initial talks 
about a Hong Kong— Bali 
route with, says Lumenta, a 
transit stop in Ujung Pan- 
el ang, the capital of South Su- 
lawesi province (formerly 
called the Celebes Islands). 
Discussions with Philippines 
Airlines have also centered 
on opening new gateways 
into the country, in this case a 
stopover in Manado, the capi- 
tal of North Sulawesi prov- 

Bali is the bait for virtually 


frequency to European desti- 
nations through Bangkok. 
Thailand is a major Europe- 
an gateway to Asia and their 
national carrier’s marketing 
vice president held op ening 
talks with Lumenta in early 
June to develop a twice 
weekly service from Bang- 
kok to Bali 




i caw- 

lVTrv* if (Trofrvi* ' nK> one ^ wor ^ s largest international 

1 N<XV IftllUl banking groups, with more than 1 ,000 

offices in 55 countries. 

T . Such capability allows HongkongBank 

he merchants who pioneered track to respond to your banking needs 
routes to the East faced many quickly and effectively, in Asia and around 

unknowns. Today, successful navigation . the world. 

in Asian waters still demands patience, HongkongBank will give you access 

skill and local knowledge. to a range of financial services which 

HongkongBank has acquired such will help you chan a continuous course 

expertise through more than a century of . to success. 

service in the development of Asian Talk to us now at our Jakarta Office at 

tradeand commerce. JaJan Hayam Wuruk 8, Jakarta; or our 

This expertise has also provided the Sudirman Office at Wfcma Metropolian II, 
momentum for the Bank’s expansion Jalan J end era] Sudirman Kav 3 1, Jakarta. 



Marine Midland Bank* Hongkong Banfc id' 
Canada ■ The British Bank of Ur MkkBe East 
Haag Sene Bank limited * WarDe* Limited 

Serving Indonesia. Worldwide. 

province with little or no 
knowledge of the country in 
which it is a part The Indone- 
sian government has sought 
to expand the island’s tour- 
ism potential with a develop- 
ment on Nusa Dua, actually 
an islet separated by the in- 
ternational airport from Bali 
proper. Garuda operates the 
Nusa Dua Beach Hotel there 
and another, the Sanur Beach 
Hotel, which is on a beach 
near the airport on the main 

At one time, the govern- 

“We think labor transport 
is one market to Brunei." 
notes Lumenta by way of ex- 
plaining Garuda’s decision to 
start flights to that newly in- 
dependent country, to tegin 
in April 1986. Brunei is also a 
member of the Association of 
Southeast Asian Nations 
(ASEAN) and Royal Brunei 
Airways already flies to Ja- 

Every year in a 22-day pe- 
riod, about 40,000 to 50,000 
travelers make the bajj or 
pilgrimage to Mecca from 

overs, but the execution of 
the plan is still incomplete," 
he advises. 

Airline as Public Utility 

Reyen Altin Johannes Lu- 
menta has been Garudas 
president only a short time, 
but he has already built a 
reputation for fast action and 
easy' accessibility. Lumenta 
was formerly the President- 
Director of Merpati Nusan- 
tara domestic airlines, which 
was absorbed by Garuda, and 

.,zt**** m ■ 

& 4KO& 

xnent protected its national 
carrier by forbidding entry to 
any airlines but Garuda. This 
meant all traffic had to ar- 
rive first in Jakarta, with on- 
ward domestic flights to Ball 
Besides discouraging tour- 
ism with an extra stop en 
route, it had the effect of 
choking Jakarta’s air corri- 
dors with transit passengers. 

Partaffotanesia Airways Fteet 

the largest Muslim country in 
the world, Indonesia. "One 
year we carried 70,000 hajj, 
recalls Lumenta, who ex- 
plains that Garuda has ex- 
panded its access to Saudi 
Arabia with stops in Riyadh 
and Dharain. Formerly Gar- 
uda flew only to Jeddah. 
“There is already an agree- 
ment for these new stop- 

bas seen the growth of Indo- 
nesian air services over a 
long time. 

He sees the years of 1980 to 
1985 as a time when acquisi- 
tion of new aircraft was es- 
sential to building the Garuda 
fleet for national develop- 
ment purposes. In that time, 
Garuda purchased nine Air- 
buses, twenty-eight F28s and 

six Boeing 727s. Yet the oodfr 
pany is financially sound* 
with no outstanding debt 
problems and has suffered ms 
major cutbacks in re 
government austerity mea- 

Garuda now flies to 27 plt>- ; 
vincial capital cities and,! 
with its Merpati domestic- 
airline subsidiary', also runsit 
network from those capitals 
to what would be the equtv$ L 
lent of towns that are county 
seats in the United States. 
This Garuda - Merpati combi- 
nation is called the ''Inter- 
line'’ system and works to 
support Garuda's pioneer 
flights intended to open re- 
mote areas. 

The importance of Garuda 
as a kind of pioneer “wagon 
train” eastward is due to In- 
donesia's being so gigantic an 
archipelago, with 13,667 is- 
lands; five to six thousand of 
which are inhabited. Trains 
and ships and highways can- 
not tie the nation together as 
quickly and effectively as air- 

The goals of the third five-, 
year development plan (Re- 
pelitalll) which ended hr 
1984, were to increase air 
transport services by means 
of an enlarged air fleet more 
flight frequencies, and rais- 
ing the capacity and safety of 
Indonesian airstrips. 66 air- 
fields were built or enlarged 
over the period to give access 
to more places which had 
never before known regular 
air service. 

Schhimberger’s ‘Wireline Logging’ 
A Success in Exploration 

all current negotiations by 
Garuda, and Lumenta con- 
tends the unique island desti- 
nation still has the capacity 
to absorb more tourism de- 

Bali is one of the world's 
legendary tourist destina- 
tions and people overseas 
will often have beard of the 

In its rapid progress to- 
wards the 21st century, the 
Indonesian petroleum indus- 
try, led by the state oil com- 
pany Pertamina, has continu- 
ously Increased the 
sophistication of the technol- 
ogy used in its exploration 
and development program. 
This has resulted in a dou- 
bling of its success ratio in 
the drilling of oil- and gas- 
wells over the last fifteen 
years, bringing it far above 
the world average. 

The story of commercial 
oil production in Indonesia 
began a century ago in East- 
ern Sumatra, although as 
early as the eighth century 
AD. oil from seepages in the 
Aceh region had been used in 
naval battles along the Suma- 
tran coast 

Today’s prospecting starts 
with geological identification 
nf areas where oil accumula- 
tions are most likely to occur. 
These areas are subjected to 
geophysical study by air- 
borne magnetic and gravi- 
metric techniques and by 
seismic readings on the sur- 
face, yielding a “map" of the 
rods: layers below the earth’s 
surface. If results look prom- 
ising, an exploration well is 
drilled, penetrating deeply 
Into the earth's crust and re- 
turning rock cuttings to the 
surface far geological analy- 
sis. A quantitative analysis of 
the rocks and the fluids they 
contain is then needed to per- 
mit an economic analysis. 

This need is fulfilled by 
Schlumberger and its Indone- 

S<2)lm&erger Cyber Service Unit Truck. 

sian associate company, P.T. 
Pacific WeUog, which deploy 
highly skilled personnel and 
advanced techology to pro- 
duce a comprehensive profile 
of the underground environ- 
ment By providing technical 
services known as “wireline 
logging” to the oil industry, 
Schlumberger can give a 
more detailed and accurate 
measurement of the physical 
properties of the subsurface 
rock formations and the flu- 
ids they contaimThus, a large 
element of guesswork, costly 
risk and time wastage can be 
eliminated from decision- 
making in this vital area of 
national resource explora- 
tion, planning and develop- 

“Wireline logging" was in- 
vented by two French broth- 
ers, Conrad and Marcel 
Schlumberger, who in 1927 

produced the world’s first 
electric tog, which accurate- 
ly measured resistivity ver- 
sos depth inside an oil weR 

Digital and Computer 

“Today we use micro- 
processors in our logging 
tools downhole, and use new 
digital technology almost ex- 
clusively. This has increased 
both the accuracy of our 
measurements and the reli- 
ability of our tools, says Ga- 
tot Sam, a young Indonesian 
engineer currently working 
for Schlumberger in Japan. 

Pertamina, the Indonesian 
State oil company, has al- 
ways been progressive in its 
requirements. It recently 
commisaoned Schlumberger 
to nm a downhole biaxial 
seismic survey, the first ever 
in South East Asia. 

In Jakarta 

there's a superb hotel 
that is more like a 
luxurious country dub. 




Jalan Lapangan Banteng Selatan, (P.Q Box 3 29), 370108, Tde*: 44156 
For reservations call: Hong King; 5-8440311/3/ 

Tokyo: 2150777, Singapore: 2202476, Osaka : 2640666, 

of call your nearest Inter-Continental sales crffice; .. 

This reputation for new 
highly accurate measure- 
ments has been complement- 
ed by the development of in- 
terpretation techniques by 
skilled personnel with long 
experience of Indonesia's dis- 
tinctive geological environ- 

Computers are now used at j 
wellsites to interpret mea- 1 
sureraents recorded by com- 
plex instruments under: 
ground. A more detailed 
analysis Is undertaken by . 
specialist engineers with 
large main-frame computers 
at Schlumbexger’s interpre- 
tation centers in Jakarta and 
in Balikpapan, the oil capital 
of Kalimantan. 

Trained Field Engineers 
The company believes that, 
technology is most effective- , 
ly transferred through people ; 
and has long demonstrated 
its commitment to the career 
development of its Indone- 
sian staff. 

Over 15 years ago, Schlum- 
berger started its program 
for recruiting and training In- 
donesian engineers. Accord- 
ing to DJS. Baird, executive 
vice-president at the compa- 
ny's headquarters, recruiting 
is related directly to the level 
of activity in each country; 

The company’s woridwidfi 
reputation for service is 
based on continuous training 
programs for field engineers, 
technicians and field support, 
staff. Over 84 million to in- 
vested annually for trainmg. 
in Indonesia alone. 

Research and Devefefuueot ^ 

Since its start in the 19291s,, 
Schlumberger has recog*' 
nized the importance of sd-^ 
entific research. Its Re- 
search and Development 
budget has shown a steady' 
increase thro ugh the years, 
irrespective of the business 
conditions, and amounted to 
some $393 milli on in 19841 The 
company has also developed 
close links with leading ad-- 
versities throughout the. 
world. In 1983, it set upa Joint 
research program between 
the Institute of Technology to. 
Bandung and its own re-- 
search facilities in Tokyo. 

This dedication to scientif- 
ic research has resulted lit 
j numerous tangible benefits 
to the dl industry. Last year,'! 
a new reservoir, hitherto 
overlooked was discovered 
within an existing ofl fiddJB: 5 
Indonesia by the use <tf &; 
newly developed nuclear* 
spectroscopy instnimenL ^ 
discovery like this is espe-‘ 
dally cost-effective for our 
nation," says Ron Prayitno, 
an Indonesian Field Manager : 
who joined the company^ 
1973. “The infrastractiBre-ftff 
all the wells in the. 
already in place. All ffcatis 
needed is to feed -the* oil to 
existing pipeline." 

“Our aim is torontim^ to 
provide precise and protest 
sionai well evaluation in sapK 
port of Indonesia’s oiltodflS* 
try"- commented Bambacg! 
Nugroho B»u Harnoto, ETefc 
Irient of Schlumhergd^asstfi 
date company, P. T. PacfiSfi 
Wejiog. ... . •. 





9 - 


f- V* 

Statistics Index 

^ s Y ei[ . 
* ir *«tnciai lv n ®«flnj. 


ABS8 *ntv 

'•ii nf>u 

rfe Ce L 




v Hies i 


J? 1 '* f, u:a r>. 2, ca »* 
f u ‘ wr «s '-hat 

V !i ’■* lied > 

^^vth in,, ta 

•; or: ( ^'-Jd 6 s 
l0 S 

* *irc*a.s r*.l 

AMEX prtcw .• P. 5 : tontfosn rancrti p.17 
AMfiXhiBWlWtP. 8 Fttno rataoBM P.14 
KY5E prt«* , ; P; 7 Goto morkats — .p.ia 
nYKHkAwri taianctraftt pjs 

Cowan iMa Ml MarM mmiiMry p. 7 
C oW M M P.15 (Mtora P.1* 

CPpaaodWo* AJ6 OTE Koek a. 17 
OHUindt '■' ‘ Ms Otter mourn p.ig 



U.S. Stocks 
Report, Page 7 



Page 15 

*+« arc- 

• "••■‘i* **TS£tei 

iiotht- Vl ’. - Sc ^ 

ck:v and-fr,.,. 




■ir. '•niatt.v'i n/ 


rl “"■• pvn"»u„2.v* " 
rnore * 1 . 1 . :i;cf . vhj 
vcr &.•?■, re KTm 101 
r s or. i- l- 


The 'Other Deficit’ Looms 
Over U.S. Policy-Makers 


New York Tima Service 

EW YORK — America's “other deficit” — the trade 
deficit _■ — is the biggest dragon Uneconomic growth. 
The tricky problem fadng national policy-makers is 
bow to solve the nation’s international trade problem 
without thrusting the domestic economy into a slump that would 
be more painful than the trade deficit itself. 

A core for the problem requires a correct dia gnosis rS a/haf hao 
caused the huge and still widening trade deficit. An analysis by 
Norman S. Fiekde, vice president and economist of the Federal 
Reserve Bank of Boston, to be published in die forthcoming issue 
of The New England Economic Review, attributes the rise in the 
U.S. trade deficit to three im- 

The dollar’s rise and 
die fUmhing trade 
deficit played 
off each other. 

mediate factors: the huge ap- 
preciation of the dollar from 
the summer of 1980 until the 
spring of 1985; the more rapid 
expansion of the U.S. econo- 
my than the rest of the world 
in 1983 and 1984, and the 
drop in imports of debt-bur- 
dened Latin American and 
other developing countries after mid- 1982. 

> The rise in the dollar and the climbing trade deficit played off 
eachother in a vicious circle. But while toe United States was able 
to pun in enough capital from abroad readily to finanm its trade 
deficit and bid up the dollar in the past two years, this could not 
j/ continue indefinitely. Foreign investors have grown anxious 
: about the stability of the U.S. economy, and especially the 
conduct of U.S. budget and fiscal policy. 

. In his congressional testimony this week, Paul A. Volcker, the 
Federal Reserve's chairman, warned of “strain, imbalance and 
danger” in the economy and a g ^in urged Congress to do some- 
thing about mounting federal budget deficits. He said the nation 
had enjoyed a relatively strong recovery for two and a half years 
with low inflation but cautioned that the budget and trade 
deficits were posing a growing threat. He warned that too rapid a 
fall in the dollar was “the greatest risk we have on the inflation 

ThLs ‘v 
£b.:> -ci.u 

it'flLt bi*- ./■ 
1 by 
. 4 rpn*t. 

iiUlt! >1 •• 
XIw-JU,*:,..- : 
ru inc „ 

CVst i / 

;u K'.rvxr.L- -• 
*!fx it .---, 
;r uuhd \ 

i Ki'.y 

Tb.' i 

tfft.r.v .■ 

ly Us-:-'. 

»ad r-is • 

Star, sta!- 
«>%» r ; 

: • •• 

doniv^i- •• 

i&e w * r 

vw-pn .--s 
n> > h* 

js “fLi! v 

u? actri: - . - 
Th»‘ • 


EiiiA*d • 

**!chr. • 

ii. • 

^ lC* 

VcaVU • 

ijj Ijjij 


Si:;- -- 

Sch.-'' : ’ 


[• -jp:t *■'-<’ • 

I . 

I ■ 
j . it- 1 ”- -• ■ 

»"fi for on- 

■riisuaec ^ 
tnsh loei 

-••■■•I ®wi! 

.v>v. u-edai 


■ rdvc tr- c»t 



/ SJ{ 

i'.rv-n mi 

»■ •wtdST 

j -r ss» 

• L'-TiSl 
•.. ail 

t i*-»d Et®® 

^ i 

; Tr-dff?S*! 

. •;< 'V-iatf' 


, y. r®: 

• - t -r* V.t(8i : 

T HE FED does not want to aggravate that risk by pursuing 
too easy a monetary policy. Clearly the Fed is walking a 
tightrope between keeping the economy moving ahead — 
important not only for domestic reasons but also to keep up the 
recovery of the world economy, and especially the debtor coun- 
tries — and not increasing the money supply so fast as to raise 
inflationary expectations, push up interest rates, aggravate the 
trade deficit and intensify protectionist pressures. 

On the side of avoiding recession, Mr. Volcker said the Fed had 
decided to measure the growth of the baric money supply from 
April through June of this year, providine a higher base than the 
final three months of 1984. This would permit the Fed to 
“swallow" past rapid monetary growth without being forced to 
^tighten money drastically and drive up interest rates at a time 
'■'when the economy remains sluggish. 

But on the side of avoiding excessive stimulus, Mr. Volcker 
said the Fed had reached the limits of what it could do through 
monetary policy to keep the economy thriving and would not 
seek to push interest rates lower. 

With the dollar falling sharply in international markets, the 
Fed is trying to temper the decline by holding interest rates where 
they are or even pushing them a hit higher. Falling interest rates 
might help to accelerate the dedine of the dollar. 

, The prospect of an" early, cut in the Fed’s discount rate, to 7 
percent from 7% percent, bas apparently faded. Mr. Volcker, 
while warning of the risks to the economy, held that the economy 
would be somewhat stronger in the second half of this year. In 
economic policy making, a desired course of action often justifies 
itself by making the appropriate diagnosis of economic condi- 
tions. The Fed is obviously hoping the U5. economy is strong 
enough to permit it to lessen its monetary stimulus in order to 
counteract market forces driving down the dollar too “predpi- 

(Contraued on Page 16, CoL 3) 

| Currency Rates 


i 1 ®; 

- < 4>oiw Bates 

• C 






5J=. Tn 






f 771 - 






auns r 

; Anna 


JUS • 












BUM * 


121X5 • 




■ IJ9B 























17168 * 












44(3 X 




167V * 






IU1 * 










27.10 • 


7X45 • 

















IS 500 










US Urges Talks 
For Sauor Aides 

By- Stephen Weeks 


GENEVA — Major industrial 
and developing nations failed Fri- 
day to set up a new round of higb- 
-level talks on world trade to com- 
bat what all sides say is a 
resurgence of protectionism. 

After three days of negotiati o ns, 
the full council of the General 
Agreement on Tariffs and Trade 
failed to reach a compromise be- 
tween industrial and developing 
countries and suspended its meci- 
, indefinitely. 

: United Stares, at an all-night 
g Thursday of the 90-nation 
fof GATT, invoked a proa- 
dural move to try to force a meeting 
of senior officials in September, a 
GATT spokesman said. 

European Community countries 
backed the United Stares, as did 
Japan, Canada, Spain and Portu- 
gal, but it requires approval by a 
majority of the 90 GATT members. 

Kazao Chiba of Japan, the coun- 
cil chairman, said be would consult 
members on when to reconvene the 
council and on a possible compro- 
mise to dear the way for talks this 
summer. At the same time, the in- 
dustrial countries, led by the Unit- 
ed States, will lobby other members 
about the meeting m September. A 
postal ballot win probably decide 
the matter; the spokesman said. 1 

The Reagan administration, un- 
der pressure from congressional 
and industrial leaden for trade re- 
strictions against imported goods; 
has rnmtp. the start of a new round 
of trade talks a priority. 

But a group of 23 devdoping 
countries, led by Brazil and India, 
has rgected the talks proposed fry 
industrial natinn*- 

The developing nations are 
ready to start talks on cutting trade 
barriers only if the talks are re- 
stricted to goods. Brazil and India 
have refused to negotiate on the 
service sector, which groups bank- 
ing, finance, insurance, shipping 
and tourism. 

The devdoping countries fear 
that the welMevefoped service sec- 
tors of the industrial nations would 
swamp their domestic service mar- 
kets and that industrial nations 
would force concessions ou services 
in a new round of trade talks. 

Tbe seven rounds of trade talks 
since World War n have been de- 
voted solely to trade in goods, and 
developing countries say that 
GATT regulations do not apply to 
the service sector. 

But the U.S. delegate, Peter Mur- 
phy, said that because services ac- 
counted for two- thirds of total UJS. 
production and jobs and 15 percent 
of exports, UJS. industry and Con- 
gress would never accept talks that 
excluded services or relegated them 
to a secondary role. 

Binging In the Changes at Bellcore 

Telephone Research Unit 
Searches for Its Identity 

By Brie N. Berg 

New York Tima Service 

NEW YORK — If a team of scientists, engi- 
neers and linguists has its way, tbe tdephone of the 
future win dial a number at the sound of its user's 
voice. Local phone lines into homes will be 
equipped to transmit pictures, and computer data 
simultaneously. And phone- answering machines 
will be able to pick out messages from specific 
individuals for playback. 

Such projects were once the preserve of AT&T 
Bell Laboratories, which provided research into 
the future of commmucauonS for the entire Befl 

But these are from a new giant ou the communi- 
cations technology scene; Bell Communications 
Research Inc. Known informally as Bellcore, it is 
the research center for the seven regional phone 
companies formed from last year’s breakup of the 
Bell System. 

Based in Livingston, New Jersey, only 11 miles 
(17 kilometers) from Bell Labs' Murray Hill tech- 
nical center, it undertakes projects on an individ- 
ual and collective basis for the regional companies 
in much the same way that Bell Labs provides 
advanced technology for American Tdephone & 
Telegraph Co. 

Bellcore is also attempting to maintain the quali- 
ty of the national phone network, which critics say 
has declined since the breakup. 

“If you want to prevent different standards from 
arising in the na tional phone network, you have to 
have some form of technical coordination that 
Bellcore could very well provide,” said Eli M. 
Noam, the director of a telecommunications re- 
search program at the Columbia University Grad- 
uate School of Business. 

Bellcore is little known outride the telephone 
industry, despite its 7,500 employees, more than 
half of whom are technical staff, and an operating 
budget approaching SI billion per year that makes 
it the most heavily financed collective research 
organization in the United States. Bdl Labs has a 
lugger budget, but works only for AT&T. 

Some telecommunications professionals ques- 
tion whether Bellcore, so new and unproven, is 
really a match for Beil Labs. Many of their 
projects are similar, and both compete for govern- 
ment contracts and for prizes, a critical element for 
attracting scientific talent. Others fear that BeD- 

BeJlcore’s Locations 


Livingston Corporate Center 
Morris Research and 

Chester Research 
and Engineering 
Center^/ \ 


Bell Labs. | V 
Murray Hill 

, V * 




Naves! nk Research 
and Engineering 

Raritan River Software 
Systems Center 

Th* Mm Ynt t- 

core will set standards that favor one equipment 
maker over others to tbe detriment of tbe system. 

Another major question is whether Bellcore can 
survive as a collective research organization when 
its seven parents compete in such areas as equip- 
ment sales. Some expats predict it will scrap the 
“core" projects undertaken for all the companies 
and limit itself to individual assignments. 

“It's good on paper, but I don’t think Bellcore 
will prospa- and grow,” said W. Brooke Tunstall. a 
retired AT&T corporate vice president who wrote 
a book on the Bell breakup. 

The two organizations differ in a number of 
ways. Bell Labs concentrates on computers, busi- 
ness equipment and long-distance communica- 
tions. BeDcore studies how to bdp the local phone 
companies, working with them to design their 
networks, evaluating communications equipment 
and furnishing ana helping maintain computer 
programs for customer billing and record-keeping. 

Bellcore conducts market research and advises 
on how to improve phone directories. Moreover, in 
case of a national emergency, it would coordinate 
(Continued on Page 17, CoL 5) 

Slower Growth Seen for Singapore 


SINGAPORE — Singapore's 
economic growth will slow to 3 per- 
cent to 5 percent in 1985, the weak- 
est performance in tbe past 10 
years, the U.S. Embassy said in a 
report released Friday. 

In its economic- trends report on 
Singapore, the embassy said that, 
barring unexpected changes in the 
world economy, average annual 
growth in Singapore's gross domes- 
tic product for the rest of the de- 
cade is expected to be 5 percent to7 

Singapore's GOP. tbe total out- 
put of goods and services, minus 
income from operations abroad, 
grew by 8.2 percent last year, com- 
pared with 7.9 percent in 1983, and 
the government has forecast 
growth of 5 percent to 7 percent for 

The report said the island’s econ- 
omy was facing fundamental struc- 
tural problems that will require “a 

potentially wrenching adjustment 

Many long-established sectors, 
including shipbuilding and oil re- 
fining, are facing “permanent con- 
traction” because of overcapacity 
and fierce overseas competition, il 

Manpower will be tbe most criti- 
cal constraint, with the government 
committed to phase out all foreign 
workers by 1992, the report said. 
Foreign workers account for about 
15 percent of the 1.1-million work 

Singapore's efforts to attract for- 
eign investment in high technology 
have met with Increasing difficul- 
ties as investors shift their interests 
to the United Slates and other mar- 
kets, the report said. 

Options for growth through the 
construction sector are also limit- 
ed, it said, with the SZ5-biIik>n 
urban railway system well under 
way and tbe massive public hous- 

s. A World of Problems Is Plaguing BankAmerica 

CJusIne* In London and Zurich, fixings m other £i/rwwc*i canfBr*. new York rotas at 4 pjn. 
(0) Cornnarckt! franc (bj Amounts neotod to txn on* pound fcj Amount p—dod to boy one 
" . doitortVtMtsofmu>UnltsotlMl(Y}Uiin*afnuiOtN.QL:notquctea.-HA.:i)atavaHal>l&. 
■-’£* (*) TO bar aae pound: SUS.I2S) 

Other Sellar Value* 

Orraoci per 


Correocv par USX 

Curmncr P«r U55 

Cormncy Mr uu 

- - ?:■. 

Argaa. antral 






S. Ksr. won 






Man. MH 








Norw. krone 


SwwL krona 







Taiwan $ 


r i - 4 - 1 * 

Bnaflentr <U40X» 

tHdu. raololi 



16 £00 



.. '' 



Irish 4 




Torkllb Hru 


• ■■ ■ ' 



Isnmn riwh. 1X7250 





3VPLJMWNI 07507 

Kuwait! dinar 0JWS 



vnu. baOv- 


: ura Irish t 

. • i '■ l '“ Sbunou: Oonaon du Baneiux (Brussels); Banco Commando)* ItoUano ( Milan) ; Ban ut No- 
Paris (Paris); Bath of Totvo (Tokyo): IMF (SDR); BAH (dinar. rtyoL tfrtmtK 

Interest Rates 

By John M. Broder 

uk Angela Tima Service 

LOS ANGELES —A few hours 
after BankAmerica announced a 
stunning secoodr-quarier loss of 
S338 million on Wednesday, the 
president, Samuel H. Armacost, 
was asked to identify the source of 
tbe company’s problem loans. 

“Have you got a globe?” he 

The biggest UJS. bank has the 
biggest problem loan portfolio in 
America, totaling more chan S3J 
billion. Its troubled credits run 
from California farmland to Mexi- 
can breweries to Greek shipping 

In announcing the $3 38-million 
loss — the first since it began re- 

porting quarterly earnings in 1970 
— BankAmerica said the majority 
OT the deficit was caused by an 
S892-milIion set-aside for bad 
loans. For all of last year, its provi- 
sion for loan losses was S859 mil- 

And since BankAmerica’ s quar- 
terly loan write-offs totaled only 
J3?2 million, the huge provision 
was seen as foreshadowing very 
large future losses. 

Mr. Armacost himself cautioned 
that the loan-loss provision would 
not end the company’s troubles. 
“Time cures the loan-loss problem, 
not dramatic events," he said. 

Bank of America, BaukAmeri- 
ca’s principal subsidiary, faces 
losses in nearly every major catego 

Mr 19 

I . . • 


... ..• 

• ••• 




Stem no 




A !' 





12 A- 72 h. 


2 Bums 


5 *4-5 H, 





r r ' > -i-T» 






ffWOfr no. 



5 K-5 ’N 


' 1145-114* 



• •"T.a-.O, 





11 lb-11 *w 



S*re*j- Maroon Guaranty (doHa. Ml SF. Pound FF): Uords Bank (ECU); Routers 
tSDRl Rohe aoollcabh la Interbank do posits of Si mltlbnmlMnum f or eoutvotont). 

j : m : ; 

•a--". . 

■ .i ”! 

,';r ” •’ 

■ ".V 




-■. ii ,1 ' f 

‘ ■ il ‘ teertMtoB Rate 1H fflr 

\ • ,,;0*«Mer w» Wi 

•>* ftem w ra wiitete w *nn» 

*u ns m 

* ** * hlarinn * HIM ? 11/14 

II 12 

MJL 13 


— 115/U 


fttoe Raft 

**** Tnmvry SOM 
Timmy sac 

°« MMfi Mtrtaok 
*■«*■» Merten* 

Jots- 19 

m m 

7ft BW 

n m 

(Met » 
IM 7J» 
7.13 7JP 

7JS 7 JO 

1/0 7X 

*J# LOO 
£» US 

- 1 

; : i l ‘jn+oyTnmrMi 
’ >*»» hrifrtenk 

■. ff- SOMMaan 
-*t Imwtenfc 


43 ns 




V ■ a : 

flsvftot Ommeraonk. cnoo 
■ ■ 1 1 Uoyd* Bon*. Bane el Toim 

Asian Dollar BefWfdts 

Job 19 

1 month 
3 month* 

74h-0 h 


Source: Reuters. 

UJS- NweyMwketVkadhi 

Mf 19 

Nterin Lradk Rcariv A5MM 
IB day ore raoe riM: NA 

Tolerate Interest Rate Index: 7J7* 

Source; Marti) l yneH AP 

To Our Readers 

Beginning today, we are replacing the NASDAQ National Market 
list of U.S. over-the-counter stocks with a new, selected list of 
NASDAQ-quoted OTC issues. 

TTtis list contains the 1,000 over-the-counter listings with the 
highest market value, as defined byper-share price multiplied by the 
shares outstanding. Tbe list, from The Associated Press, is updated 
about every six months. In addition, this new list contains added 
information about each issue: high and low prices for the preceding 12 

The full weekly NASDAQ National Market list and the National 
List of smaller companies will continue to be published every Mon* 

Also today, we are. beginning two new, regular features. One is a 
daily summary of activity in the Euromarket and the other a daily 
foragn-exchange-inarket summary. Today, these articles are on Page 
18. In addition, on Wednesdays and Fridays, we will expand space 
devoted to Business People, and our daily earnings listings will also be 

ry of its S82-bQlion loan portfolio, 
including agriculture, real estate, 
shipping and foreign lending. Con- 
sumer loan losses are at their high- 
est levels ever, and even loans to 
other financial institutions are go- 
ing sour. 

Bank of America's problem bor- 
rowers include Don Jackson, a 45- 
y ear-old farmer and rancher from 
Traver, California, who filed for 
bankruptcy late last year with the 
bank holding four of his notes, in- 
cluding a SLy-millioo credit to help 
him fend off foreclosure by the 
Federal Land Bank. 

The bank, probably the world's 
biggest farm lender with $2_2 bil- 
lion in Joans outstanding, today 
owns 94,000 acres (37,600 hectares) 
of California farmland acquired 
through foreclosure. Duane A 
Paul, senior economist, predicts 
further foreclosures. 

The bank may find itself awash 
in Mexican beer as well. Tt is the 
biggest foreign lender to two major 
Mexican breweries with financial 

troubles. Cerveceria Mocteznma 
(Dos Equis brand) and Cerveceria 
Qualiemoc (Cana Blanca, Bohe- 
mia), with an exposure estimated at 
5106 million. Analysis expect that 
a major portion of that investment 
will have to be written off. 

Its loans lo private industry in 
dozens of ocher foreign countries 
arc at risk, analysts ana bank credit 

dal current problems incMe 1k>- 
livia, Paraguay, Chile, Nigeria, Su- 
dan, Zaire and Ivory Coast. 

Another area singled out as di- 
sastrous was shipping, particularly 
Greek-flag earners. Total U.S. 
bank exposure to the badly de- 
pressed world shipping industry is 
estimated at $20 niDion. Bank of 
America was an aggressive ship- 
ping lender but was relatively slow 
in caking charge-offs when the in- 
dustry hit a severe slump beginning 
in 1979, said George M. Salem of 
the Wall Street firm of Donaldson, 
Lufkin & Jenrcue. 


Jab 19 


HWKM9 31175 JWJ5 —US 

UMOHOT 31* JS — —MB 

Part* ms kilo} 33 8 37 3tfJS —191 

Zortek 111.10 31 US — US 

London 319.00 318,90 -1.10 

Hew York — JttJri Unefc- 

unambom. Parts and London offletof flx- 
km: Mono Kona ana Zurich aeonktt and 
daalno prices; Mow York Corner Current 
contract. All prices InuS-S ner ounce. 
Source,- Reuters. 

^ crAgs 


Your Swiss Connection 

to professionalism and reliability In business aviation 

Our own fleet of 10 modem jets Is ready to serve you anytime, 
anywhere. All Dassault Falcon and Learjet modi 

for further detaUs, please oH : Zurich Ph (1)814 3700 

Head Oftce: Geneva Milan Ph R) 27 84 32 

Ph (22) 9845 10 Tlx 2B9166 Madrid Ph (1)2593224 


Tlx 56192 
Tlx 335475 
Tlx 44192 


' crfT&u^/'o , zff 


their latest creation as well as 
a selection of their rarest stones 



July 18 to July 22, 1985. 

New York Genfcve Paris Monte-Carlo 

Argentina Nears 
New Pact With 
IMF on Debt 

ing program having peaked last 

“The private construction sector 
has virtually collapsed under the 
weight of excess supply in virtually 
every properly sector," the report 

The decrease in property values 
of up to 50 percent in die past four 
years has ‘'constricted credit and 
has a depressing psychological ef- 
fect on the general business com- 

Singapore's economic problems 
are compounded by the fact that 
Malaysia and Indonesia are now 
handling more of ihcir own inter- 
national trade. 

“The mood in local business cir- 
cles was almost uniformly one of 
anxiety and pessimism at mid- 
year." the report said. 

It added, however, that Singa- 
pore’s long-term prospects remain 
good despite its immediate eco- 
nomic problems. 


BUENOS AIRES — Argentina 
has reshaped its agreement with the 
Interna tiooa] Monetary Fund, set- 
ting targets in line with a tough 
anti-inflation program begun 'a 
month ago, the Economy Ministry 
has reported. 

A ministry spokesman said 
Thursday that agreement with the 
IMF was expected next week, with 
harder restrictions on money sup- 
ply and a low inflation estimate for 
tbe second half of 1985. 

He said the previous pact, con- 
cluded with the IMF in June, had 
been superseded by the introduc- 
tion of the ami-inflation program. 

The budget deficit for the whole 
of 1985 was set at 4.5 percent of 
gross domestic product, the sum of 
goods and services traded within 
the country, as opposed to a limit 
of 6 percent set in the previous 
pact, the spokesman said. 

The 1984 budget deficit was 
1175 percent of GDP. 

Inflation for the second half of 
this year was targeted at 8 percent, 
a drastic drop from the 150-percent 
annual inflation limit set out in the 
earlier agreement. The spokesman 
said that was made possible by in 
indefinite freeze on prices and 
wages enacted in mid-June, shortly 
aflyr the announcement of the IMF 
agreement that was needed to un- 
lock fresh financing for servicing 
the 548-billion debt. 

Buenos Aires now expects to 
draw a 511-billion tranche of its 
£I.42-bilIion IMF standby loan 'in 
the first days of August, he added. 

Creditor banks that have given 
99-perceni backing so far to a 
S4.2-billion package of new- financ- 
ing are expected to release about 
$800 million in September, the 
spokesman said. 

A further $2 billion from com- 
mercial creditor banks is expected 
lo be disbursed in November, and 
an IMF represen la live. Joaquin 
Ferran. took the draft agreement 
bade to Washington last week, the 
spokesman said. 

In England, the senior vice presi- 
dent of Citibank. William Rhodes, 
said Thursday that banks’ commit- 
ments to the $4.2-billion package 
for Argentina were more than 99 
percent of the total and that he was 
hopeful the package would he 
signed next month. 

Mr. Rhodes, chairman of the 
bank steering committee for Ar- 
gentina, spoke at a banking semi- 
nar in Cambridge. A summary of 
his speech was released in London. 

Mr. Rhodes said that President 
Raul Alfonsin of Argentina and his 
economic advisers had “developed 
a courageous adjustment program 
that appears to tackle the economic 
problems that have plagued Argen- 
tina for a number of Years.” 

■ Castro Speaks on Debt 

President Fidel Castro of Cuba, 
in a four-hour speech, said Ameri- 
cans would have nothing to fear 
from his plan to cancel the S360- 
btldon Laun American debt, much 
of it owed to U.S. banks. United 
Press International reported from 

"I say the cancellation of the 
foreign debt is to the benefit of the 
industrialized nations,” Mr. Castro 
told about 350 Latin American and 
Caribbean labor leaders on Thurs- 
day. He had called the rnming to 
discuss debt in the Third World. 

He said that a fraction of the 
military spending around the 
world, especially in the United 
States, would more than cover (he 
cancellation of tbe foreign debt of 
the Third World. 

if Latin .America had 5300 bil- 
lion more purchasing power, he 
said. man> more factories in the 
industrialized nations would work 
at full capacity and unemployment 
would be drasticallv reduced. 

Factory Use 
In US * Declines 
For 3d Month 

I'mieii Prm Inimattono) 

dustry was working at S0.7 per- 
cent of its capacity in June, the 
third consecutive month of de- 
cline. the Federal Reserve re- 
ported Friday. 

The decline of 0. 1 percentage 
point from May's revised 80.8 
percent meant that the pace is a 
full point less than the average 
for the past 17 years. The Fed 
extensively revised its figures 
going hack to 1967 and in the 
process gave about half a 

E rim’s worth of strength to the 
test figures. 

The weakening trend illus- 
trates the plight of U.S. indus- 
try. competing with lower- 
priced imports. 

The capacity-utilization rate, 
which was 81.6 percent a year 
earlier, reached a high of 86.9 
percent in the late 1970s. lodus- 
ity has never worked at 100 
percent, even in time of war, but 
the rate is watched by econo- 
mists to see how Tar it is from 83 
percent to 85 percent, the point 
at which prices go up only be- 
cause of shortages. 

On the French Riviera 



La Napoule 

iHMcl fle Casino 
five minute drive 
from downtown Cannes, 
on the beach 


(93) 49.90.00 




An Account for the Cautious Investor 
to Protect and Increase Capital 

US. Dollar Denominated 
Inured by U.S. Govt. Entities 
Important Tax Advantages 
Money Market Yields 
No Morfcet Ride 
Immediate Liquidity 
Absolute Confidentiality 




Case Postals 93 

1211 Geneva 25, Switzerland 

Please send prospectus and 
account application lo; 



No » nwfafrfe >*■» *r USA 

/The Value Line provides 


The Value Line Investment Survey continually reports on 
more than 1700 American stocks. It provides a vast amount 
of statistical history and forecasts, all of which are reduced 
by Value Line's computer-based programs to two simple, 
easy-to-apply indices: (1) The rank lor Timeliness (Relative 
Price Performs ride of the stock in the Next 12 Months) and 
(2) the rating for Safety (Price Stability of the stock plus 
financial strength of the company!. 

An introductory subsen 
Survey brings you as a ” 
tors Reference Service, 
ratings on over 1 700 sti 
“A Subscriber's Guide.' Then, every v 
will receive new reports on about 130 stocks, which u 
and replace the corresponding reports in your Reference 
Service — for just 575, about half the regular rate, providing 
you have not had a subscription in the past two years. Send 
payment along with name and address together with this ad 
to Dept. 51303 


711 Third Avunue. New York. N.Y. 10017. USA 

fhwoMnt in toerf currmdM (BrftWi ««, Rraneti MS* Swta MSB. DM243] 
iwd mqy«o fry Infor ma tion ahowM be directed to: ValoeLkw. An.: Afci- 
IradeftteifrPte fl u. 2 Am. da Vten 76007 Pmte (Tot 551.6153). 

ion to The Value Line Investment 
' Value Line's 2000-page Inves- 

OoirKxrtsd oy K LM Royal Dutch Aithnet Publication Distribution Sonncm 

Page 16 




US. Futures 

Sim* Seoson 

Open H«n LOW Close 

Season Season 
Hjjjn Lam 

Open Mtub Lew Ch»*. Cfn^ 

Dollar Mixed in New York 
In Speculation About EMS 

Prices Decline 
On Fading Hopes 
For US Rate Cut 

million) zero-coupon bond priced 
at 74.927 to give a yield ai the issue 
price to maturity of 5.943 percent, 
the lead manager. Nomura Interna- 
tional LttL said. 

$1.00 4585 Auo 4508 4580 

Est.aoln S4KZ Prov. Soles 4.7V 
Prov. Do v Ooen in. 1+690 off BO* 

Season Season 
High low 


58308IUS.- cento oerib. 
no SAJB JU1 SSOS 5635 

Open High Low Close Chg. 

The AnotiatcJ Pros 

NEW YORK — The dollar 
turned in a mixed performance in 
volatile trading Friday in a session 
dominated by the collapse of the 
Italian lira and speculation about 
changes in the European Monetary 

Despite the dollar’s lackluster 
showing Friday, it managed to rise 
for the week, the First such gain 
after Five consecutive declines. 

Attention focused on the lira, 
which plunged by almost 20 per- 
cent against the dollar in Milan on 
Friday, prompting Italian mone- 
tary authorities to close the Milan 
Foreign Exchange. The dollar was 
Hxed at 2^00 lire when trading was 
suspended, compared with the pre- 
vious day’s 1,840 lire. 

In New York, the dollar ended at 
1,900 lire, up from 1,862 Thursday. 
The pound ended at SI J95, down 
from Thursday’s S 1 .401 The dollar 

dosed at 1885 Deutsche marks, up 
slightly from 1882, and at 8.81 

French francs, up from 8.755. It 
was at 13675 Swiss francs, down 
from 1385. 

American tourists seeking to buy 
lire for a vacation or sell unused lira 
after reluming home were faced 
with an unusually wide spread 
from retail currency dealers. 

At one Deak-Perara branch in 
New York, lire were being convert- 
ed into dollars at a rate of 1300 to 
the dollar but were being sold at 
1.800 to thedoQar. 

Jack Barbanel a First vice presi- 
dent at Grontal & Co. Inc. in New 
York, said markeLs were volatile 
not only because of the lira's plight 
but because of uncertainty over the 
course of interest rates and the 

economy in the United States. 
“Traders feel very uncomfort- 

able about where thing s are going," 
he said. 


LONDON — The Eurobond 
market tended to end around the 
day’s lowest levels Friday, with 
professional operators cutting back 
their long positions as speculation 
of a further cut in the U.S. discount 
rate receded, dealers said. 

At the dose, seasoned dollar 
straight bonds mainly showed falls 
ranging From % to 34 point, with 
selected issues falling even further, 
while floating-rale notes were be- 
tween five and ten basis points low- 
er, dealers added. A basis point is a 
hundredth of a percentage point. 

One of the main factors in the 
market was Thursday's remark by 
Chairman Paul A. Volckcr of the 
Federal Reserve Board that the 1.7- 
percent annual growth rate in the 
U.S. gross national product in the 
second quarter “was not necessar- 
ily bearish for the future." 

In the Euromarket Friday: 

The issue is available in denomi- 
nations of 1 milli on vra and will be 

listed in Luxembourg. The pay- 
ment date is Aug. 15. The selling 

concession is Va percent, while man- 
agement and underwriting com- 
bined pay Vi percent. 

Co-lead managers for the issue 
are Bank of Tokyo International 
Ltd. and Klein won. Benson Ltd. 

General Motors Overseas Fi- 
nance NV said that it was calling a 
SlOO-miliion issue of li-X percent 
Eurobonds due 1987 for early re- 
demption on Aug. 30. at 100 Vi, plus 
accrued interest. 

The bends, issued in 1980, are 
guaranteed by General Motors 

Alpha Interferon Patent Suit Is Filed 

General Motors Acceptance 
Corp. issued a 30-bfllion-yen ($127- 

Standard Ch ar tered Bank Ltd. 
said that it was calling a 5100-mil- 
lion issue of floating-rate capital 
notes due 1990 for early redemp- 
tion Aug. 19 at par. 

The notes, issued in 1978, pay V* 
point above the six-month London 
interbank offered rate. 

International Herald Tribune 

FRANKFURT — Biogen Inc. has filed a patent suit against 
Boehringer Ingelheim, the West German pharmaceuticals group, to 
prevent it from marketing eye drops containing alpha interferon. 

The suit was filed Thursday in V ienna, where Boehringer’s Austrian 
subsidiary plans to begin selling drops containing the genetically 
engineered substance next week. The product as yet unlicensed, 
would be used to treat a herpes virus that affects the eyes. 

Biogen, a leading biotechnology company, received a European 
patent to produce and market alpha-type interferon in 1984. 

A spokesman for the company said the action was the first patent 
suit filed among international companies that manufacture genetical- 
ly engineered substances. 

Facing the 'Other Deficit’ 

linin g alpha interferon. O 



Quotations Supplied by Funds Listed 
19 July 1985 

tim n«f amr vaiuo ottotolRms mown below m supplied by Hw Fundi lUtea aritli the 
exception of some tomb whose quotes are based an Issue prices. Tbe fallowing 
mergleal symbols taOcata ireqaancv of imotattoas fuapdad for Hw IMT: 

Id) -dally; (w) -weekly; CM -bUnoatbly; lr) - regularly; CD - Irregularly. 

twj AUMal Trust, SA 


• — Belgium Francs; FL — Dulcti Florin; U= — 
Swiss Francs,- o — asked; + — Offer Prices* — bid 

(Continued from Page 15) 
tously," as Mr. Volcker said, with- 
out thrusting the economy into a 

The Fed's task of finding a mid- 
course between too little and too 
much stimulus would be a lot easier 
if the Republican-led Senate, the 
Democratic-led House and the 
White House could get their acts 
together on a compromise that 
would cut the budget enough to 
permit a rebalancing of monetary 
and fiscal policy. 

But the chances of that happen- 
ing are not promising, with military 
appropriations still scheduled to 
rise. Social Security untouched, the 
Democrats opposing a long list of 
nonmilitary ems favored by the Re- 
publicans and President Ronald 
Reagan determined to block any 
tax increase. 

Hence it looks like the fiscal- 

monetary policy mixture as before. 
The Fed, whether it likes it or not, 
is stuck with the job of preventing 
the dollar’s decline from becoming 
precipitate, without much help 
from budgetary policy. 

Japan Shipping Industry 
Had Profit in Fiscal *84? 

The Associated Press 

TOKYO — Japan's shipping 
companies recorded profits of 17.8 
billion yen ($74.7 minion) in the 
year ended in March 1984, die first 
net gain in three years, the Trans- 
port Ministry r epo r t e d Friday. 

It attributed the growth to the 
undervalued yen and the recovery 
of the UJ>. economy. The 41 com- 
panies reported losses of 7.4 billion 
yen in the previous fiscal year, the 
report said. 

6065 5X20 Ain 509 SAW 

7620 63.15 FCB tbJO 6640 

7S40 6LOO tsar MAS MAS 

ISM aSJO Mov MS 47.10 

7400 4545 Jul 6703 4703 

7119 ALSO Aug 

Esi. Sales SAM Prov. Sates 5XH 
Prev. Dry Open Inf. 10311 uono 

5195 52J7 
5145 SU 
6L20 4L77 
MOS 64.10 
(ATS 65*0 


37000 lbs.- cants Her lb. 

149X0 12100 Jul 141.50 HUD 

150:29 12700 Sep 114.50 13700 

15040 12905 OK 11605 13875 

149.75 12BJD MOT 13725 13*31 

14830 13100 May 135.70 13905 

14X50 13235 SOP K225 I42J0 

1384)0 13000 DOC 

Esf. Salas prev. sales 2821 
Prev. Dav Own Ini. 11417 oft <2 

13925 139.25 
U4.10 13638 
13630 13745 
13640 >3835 
I33J0 13435 
13930 13940 

75- 31 S6-S9 Sbp TIE 72-22 7213 73-19 

76.24 56-3 DK 73-1 72-1 ,1-18 71-3 

74.15 56-2? Mar 70-27 71-6 71V 7? 71-1 

7-4-36 63-12 Juft 70-12 

73-37 04 la UK .1-: 6*-l6 49- J: 

77- IS 63 -M DK «-4 

69-14 604 Mar 6315 

Esi. Sales Pra<,.3a!e*2S7JB7 

Pm Do. Own inrJtiSB uo*JTJ 


510Q4W ortrv pn & 32nOi cf IX PCI 
77-26 59-13 See 76-U 56-16 75-71 75-71 

76- 38 57-4 Dec 75-15 75-30 74 7Z 7*21 

7M 56-29 Mar 7*-W 7+14 765 7*5 

7517 56-25 Jun 73-77 23-79 73 S 73 73 

753 65 SCP ?W 750 754 TW 

Ed. Sam Prev. saws 799 

Prev. DW Open I al. 4JJ* ue-C? 


Si mill ton- oil of 1 03 oc 1 

9278 85.80 Sep 92.14 9J.16 9233 WLH 

7 8544 Doc 9165 -9165 9145 91 JO 

91.25 8686 Star 9147 

*140 8W3 jun nm 

91.15 C7JB6 Son WA3 

*0-13 88J4 Dec W41 

Esi. Sales 7*1 Prev. Sales 137 
Prev. Dav 0 p»" inf- JJ04 OH 1* 

I ltOM Ibx- cenls aer lb. 

945 164 Sep 128 3JS 

9.05 2J4 Ocl 139 3X3 

7.7S UD Jan Uf US 

M3 XU Mar 1.90 SM 

7.15 348 MOV LQ8 AM 

64* 3J9 Jul 436 *34 

non 424 Cftf 1 

L96 432 Oct 447 *83 

Esi. Salas Prev. Sales 16466 

Prev. Dav open Ml. SX4K ua35* 

U6 345 

3J4 343 

139 344 

345 3.9S 

432 L14 

422 434 


442 442 


10 metric tons- S per tan 
2415 1963 Sep 

2415 1963 Sep 2070 2067 

2X17 19*5 Dec 2100 2117 

2190 1955 Mar 5120 2135 

2171 I960 May 2141 2141 

3JKI 2023 SOP 

2210 2G55 Dec 


ESI- Spies 1212 Prov. Sales 2424 
Prwv.OavOpeniat. 3047* phis* 
15300 Ob.- canto per lb. 

18230 13240 Sap 13440 13440 

18X05 13X05 NOV 13240 I32J0 

1«un 12940 Jon 130.19 139.10 

17740 T2940 Mar 12940 12940 

16240 13140 MOV 

EM. Sotes in Prev. Sales 320 
Prev. Dav Open Hit 5403 off 11 

2057 2059 

5093 5097 

3115 2115 
2141 2 MS 

134.15 13445 
12X90 13145 
130.10 13040 
12940 129.95 


40400 lbs.- cento per Rl 
6747 5542 Aug 5542 56.10 

65.90 5600 CXI 5740 56.12 

6745 5640 Dec 5940 6040 

6745 50-73 Feb 6047 6040 

6747 6142 APT 6140 6145 

6645 6140 Jim 6240 6242 

EM. Soles 15407 Prev. Soles 16449 
Prev. Oav Open Int. 5&143 up 769 

44400 Ua^ cants per lb. 

7X70 6245 Auo 6240 6X37 

7340 6240 Sep 6255 6130 

7X37 6185 Del 6340 6340 

73JD 6L2S Nov MJN 65.12 

7940 6630 Jan 66.90 S&ffiS 

7055 6610 Mar 67J0 6720 

7065 6640 Apt 6740 6740 


Eri. Sotos 949 Prev. Sales 1433 
Prev. Dav Open Inf. X7S0 off 1) 

Boating-Rale Notes 




7*1. 70-12 1O03B1OOJO 
El 799? 1 BMBIBUH1 






i >7 Vi hi I 


30400 R»r cento par lb. 

5X77 47.05 Jut 4840 4940 

5437 4610 AUO 4690 4645 

51.75 41 JS Oct 4240 42MB 

SOUS 4340 Dec 4430 *4JSQ 

5047 4440 Feb 4540 4545 

4735 4280 Apr 4345 4125 

4945 4X28 Jim 4535 454S 

4945 45.70 Jul 4545 4545 



ft* - 



Currency Options 


Option A Strike ■ 

Umtorlylng Price Colls— Last Pats — Last 

„ Sep Dec Mr Sep Dec Mar 

lUW British Pstmctoonto per noil. 

D Pound no r 2945 r r 030 r 

115 4JB r r SMS 840 r 

13940 m 19JS r r no r r 

1g.a§ 125 1L70 1530 r r r JJM 

13940 130 940 r 1245 1XS! 348 5.M 

13940 135 53m 140 9JH 240 69S r 

TJI40 1«t 345 5J8 B.I5 540 840 10.10 

13940 M5 140 420 615 r r f 

>3*40 ISO 045 r r r r r 

50480 Caeedhm Dedars^ean per BOH. 

COotb- 72 r r r r oji r 

74.14 74 040 UN r 067 1.10 150 

SUM West German Marta-caats per Bpb. 

DMark 31 t 61* T 604 r r 

3*43 32 2.-SB 337 T 0.12 036 r 

3443 33 200 246 r B25 046 r 

3443 34 1J8 240 248 SLS5 141 r 

3443 35 077 143 M 140 r T 

3443 36 041 US 140 r r T 

3*63 37 r 077 r r 5 r 

mew French Francs-iethsaf n cenf per aaH. 

F Franc M» 14W r - r r r r 

11345 105 r r r r 155 r 

11345 110 440 r r 230 r r 

m.45 H5 23 r r lib r r 

6230JJH Japanese Yen-lOOtbs of a coat p*r anlL 
JVtn 37 r r r r r OJOB 

41 41 36 r r r r 047 0.17 

61.91 39 343 r r r r r 

41.91 40 244 r r 0.10 r r 

4141 « w ui r r 040 r 

4141 42 &6S li8 r 8L49 r r 

4141 43 &3S 0J8 r 2.12 r r 

4141 44 0.13 r r 116 r r 

624M Swiss Francs-ceeto per eelL 

SFranc 34 r r r r IN HO 

42.17 36 r r r 0J22 r r 

42.17 39 3J7 L07 457 XI5 T t 

42.17 40 255 X25 r 028 r f 

«.17 41 146 X66 r »58 r r 

42.17 42 146 r r ftfs r r 

42.17 43 076 158 r 143 r r 

. 42.17 44 r 147 r r r r 

Tatoj cau vpL_ 3J75 can apM hit. 176196 

Total pat VOL 5486 Pot am ML 122423 

r— Not traded; %— No option oHerwLo - oil 
Lari b premium (purchase price). 

Source: AP. 


si miruao-ptoof IOOpct. 

VLAS 8453 See 91J7 9149 81.72 0140 

9X00 0440 Dec *>l«* 91.46 91 JC 914* 

7156 8610 Mar 91X0 91U! W> HL93 

91,15 B5.-3 Jun «MI °0« 9041 *056 

MLB4 0758 Sep 9026 °C44 <0.17 K41 

9053 87 48 Dec B9.90 *1.90 9986 89JP 

9044 8754 Mar mi 8952 8952 B95* 

89.95 8941 Jim 8*31 

Esi. Saha 8<.<*4 Prev. Sotos *5499 
Prev. Day Oocn iitt.1 166*4 uo 2.771 

Soar aouna- 1 ootof equals 53 OQW 
1A45D IJBOO See 1JB95 1.40TC 1J77S IJ860 

IJOka 14200 Dec 13820 X3910 14685 13740 

14900 imSSS War 1J800 13800 0725 0698 

1379S 1.1905 Jun 13610 

Esi. Sales 14J30Q Prev. Sales 1541' 

Prev. Dav Open int. *X4J7 oft 2. no 

S per mr- 1 point earn is BUODl 
.7585 4025 Sen 4407 .7419 .7199 7482 

4566 400* Dec .7392 TJ9* .73 66 .738* 

.7504 6»e' Mar .7379 737* 7377 4P3 

.7355 .7070 Jun .7357 

Esi. Sales LOSS Prev. Sales <403 
Prev. Dav Open Ini. SLOT* art 8* 


S Per franc- ) point eauais SftOOOOl 
.11390 .09680 Sep .11300 .11350 .11300 41330 

.USB J3W0 DOC .111*5 

Eri.5aUS 10 Prev. Sotos 2 
Prev. Oav Ooen int. 401 offs 

Seer mark, leainteauais 900001 

4930 Sea 3475 3513 3468 3*79 

3410 4971 pec 3504 JS3S 3496 3505 

3599 JOB) Mat 3550 3550 3525 3337 

3633 3335 Jjn 3571 

Esi Sales 35463 Prev. Soles 41338 
Prev. Dav open Int. 5L1«7 o*> 542) 

seeryen- 1 pehn eauats SOJXmooi 
004366 .003870 Sep .00*294 .00023 004196 304204 

00*330 JD0390S Dec .004225 004238 004219 004224 

004307 JXMCB MOT .00*255 .004255 004259 .00*245 
Ear. Soles 1X826 Prev. Soles 16.937 
Prev. Oav Open ini. 31386 aft 43*2 


S per franc- ipoltii envois KUODI 
.4930 3480 Sen .4220 .4256 4212 4X19 

4360 3SJ1 Dee .4258 4291 «M} 4774 

43 55 3835 Mar 4305 4330 4305 4311 

Est. Sales 26031 Prev. Sales 15090 
Prev. Day Open inf. 29311 oti 1302 



130J100 bd. ft.- S Bar UMO bd. H. 

19738 13530 Sep 145JB 14830 

13730 NOV I47J» 148.00 

14*40 Jan 15XRO 15X70 

15000 Mar tom 161.90 

15100 May 16530 16*30 

171JJ0 Jul 170.00 JTIOQ 

17430 Sep 17630 17&.D0 

Est. Sales 1A0 Prev. Sales 1328 
prev. Dav Open Int IL*U ud2* 

50300 lbs.- cents per Rs. 

7730 tom Oct . 6040 6030 

7X00 6048 Dec 6090 61-05 

7675 6140 Mar 6135 6136 

TOlM) 6130 MOV 6170 6135 

7005 6U» Jul 6130' 6I3S 

6X50 56.90 OCt 3L52 5X52 

5975 5X90 Dec 5570 5570 

EsL Sotos XSDD Prev. Sales 149* 
Prev. Dav Open inf. 16.99* off 45 
*2300001- cento per oal 
7530 6635 Auo 6875 6875 

764S 66.90 Sap 6975 6930 

77.10 <735 Oct 6935 *9.75 

7435 6830 NOV 7038 7830 

7825 69.15 Dec 7135 7135 

76.90 6930 Jon 7133 7135 

7X90 7000 Feb 71.18 71.10 

Est.SatoS Prev. Sotos 4.9S5 

Prev. Day Open Int. 22373 uo 55) 

130DM1 .- debars per bbl. 

29 J7 2*25 Auo 2747 2749 

2930 2*38 SOP 2638 26.71 

2930 2*35 OCt 25.9* 2631 

2 930 2**0 NOV 253* 2530 

2938 2X90 Dec 2526 2X28 

2930 7438 Jan 7&B6 7SB* 

29 46 2*25 Feb 2*79 24.75 

2945 2L13 Mar 2445 3*45 

2945 2X93 Apr 2£.G3 24.10 

27.96 2X65 MOV 2*10 24.10 

ESt.Sotof Prov. Sales 1*332 

Prev. Dav Open Ini. SMSt »H774 

14X20 147 JO +2.10 
14630 148.10 +1-20 
15X00 155.10 +30 

16130 16030 +Jt 
16X90 Io6.r0 +140 
17030 17200 —23B 
17600 177.98 

5940 5945 —132 

5935 —130 ' 

m.m torn — u< - 

6030 59.95 —US 

5940 5930 —US 

5X30 SSJO —140 
SLOB S4J0 —131 

4880 —JO 
6820 —.99 

69.10 -34 

6930 —33 
70.90 — JJ 

7135 —75 

70.70 -45 

7641 —Bt 
2X96 — 03 

2539 +31 

257* -30 

2*95 —06 


2**5 — OS 

2*80 -.17 


Stock indexes 

n o I nto unUcnoto - 

19800 160. DO Stt> 19645 19730 

30085 175. X) Dec 19945 200.10 

20X75 190.10 Mlar 20X15 20230 

20630 20080 Juft 

Est Sates 4&28I Prov. Sotos sum 
Prev. Day Open Hit. 66355 off IS 
points and cents 

21X20 18X75 Sop 211.*D 21230 

21735 20080 Dec 71X15 21630 

Est. Sales Prev. Sales 5340 

Prev. Dav Ooen Int. 12.116 otiss 
pabih and cents 

11835 9135 Sea >1440 I14.7S 

11730 10170 Dec 11*15 11*40 

11*75 15W30 Mar 11840 110*0 

?2a®8 11*50 Jun 

Est. Soles 7325 Prev. Sale* *.115 
Prev. Dav Open M. 12320 ottfli 

Commodity Indexes 


Mgogyj i 

Reutere 137X30 

Dj. Futures 11&62 

Com. Ra seorct i Bureau- 22X40 

Moody's : base 100: Dec. 31, 1931. 
p - preliminary; f - final 
Reuters : base 100 : Sep. 18. 1931. 
Dow Jones : base 100 : Dec. 31, 1974. 







Jefy 19 


sua(ui Htab LOW BM ASK Oltoe 

Frencti fraeo per metrknaa 
Oct 1.185 1,175 1.176 1,190 +17 

Dec 1303 1.195 1.180 1,190 +13 

Mar 1317 1317 1300 1305 +16 

Mav 1355 1350 1320 1340 +20 

Aim N.T. N.T. 1355 1365 +20 

ocf lire 1398 1390 1305 +28 

Est. WL: 960 lota ot so tans. Prov. actual 
sales: 1398 lots. Open Interest; 1*670 

Ftreecb francs per in kg 
Jlv N.T. N.T. — 2,108 UndL 

£«c um Jim 2023 2A2B + 17 

Dec 2JB5 1,195 5.0G6 2315 +7 

Mor 24)25 X010 2X22 1827 +16 

May N.T. N-T. MOO — + J 

JW N.T- N.T. 2405 — UftCh. 

SOP N.T. N.T. 2835 — Uncft. 

Esi- vri .,: _2 2 lots of M lout Prev. actual 
■atos: 70 tots. Open brierasf: BM 

French francs per in fee 
Jhr N.T. N.T. — 1,980 +5 

SflP 1,915 1875 18H 1,900 — B 

Nov 18* S 1815 1,9*5 l,MB — 16 

Jon 24W0 1.970 1.9W 2810 —10 

Mar N.T. N.T. 2835 24150 +3 

H: £?: fS £B t\l' 

Pr * v - ochxa so, “ : 

Source; Bovae tiu Commerce. 




Non Dollar 

JniV 19 

High LOW BU V *Ask 


Starling per metric ton 
Jly IJ15 18* 1J02 JJ29 1J02 uu 

Sep 1879 1+5* 1877 1878 1863 1864 

Dec 1849 1853 1868 1869 186) 18<2 

Mor 18BB 1885 1878 1879 1871 1872 

May 1895 1800 1895 1896 1885 1887 

Jly 1.716 upi 1 JU 1J15 1899 i^as 

Sep 1329 1J11 1J25 1J24 1JW 1J19 

* Volume: 5,102 lots of IB tons. 


Sorting per metric too 
'Jly 1845 18* 1845 1850 18U 1844 

MF 1890 1-535 1891 1899 1876 1877 

Nov 1830 1860 1835 1838 U» 1818 

Jan 18M 1820 1875 1880 1858 1860 

Mar 1310 >863 1309 1310 1895 13*3 

May 1331 13T0 1332 1340 T338 1340 

Jly 1365 1340 1350 1370 1350 13U 

Volume: 6,184 lots of 5 tons. 


U 8. dollars aer metric tan 
Asa 21935 21833 21835 21980 31835 2194X1 ' 
*!S 21835 21735 21780 21733 21780 21735 

■OCt 21935 21835 21735 218X5 21835 21730 
Nov 22030 22030 219.75 22130 M 22130 
Dee 22X50 22223 22080 222JB BUS 22235 
Jon N.T. N.T. 21580 22230 221.75 22350 
Feb M.T. N.T. 204410 22SJ3 22180 22L00 
M*r N.T. N.T. 20930 21935 2T0J» 220J 
Apt N.T. . N.T. MX 22430 20U» 21830 
Vaftmw: 1879 lots of 100 tans. 

Sovran: neuters ond London Petroleum £x- 

cPnw Im/seU). 

London Metals 


Jufy 19 

dose Prevfoas 

Bid Ask BM Aric 

StarUnp par metric tab 
spot .73480 73580 73430 73530 

forward 75630 75680 75630 7574X1 


Storflog p«r m*Me too 
n*rf 1J4930 137030 1415080 135180 

forward 137280 137330 135680 136730 


mat 14084)0 134030 

format* 135*00 135430 


Starling per metric too 
■Pal 2KL0O 29130 

forward 29430 29680 


Sterling pot metric tan 
met 388030 149030 : 

forward 380530 X7HUXI 


Pence per tray enutee 
Mat 43*50 43580 

foremrd 44730 44830 

TIN (Standard) 

Sterling per metric ton 
wot 9.15030 9,15530 ‘ 

forward 9,13030 9,13130 1 


Stertlng per metric ten 
spat • 53830 5*030 

forward 52*50 

Source: AP. 

Commodity a»d UnR 

Caftee 4 Santas, 0) 

Printdoth 64/30 38 to. yd , 
Steel billets (PHI.), ton— 
iron 2 Fdry. PWta. ton _ 
Sloel scrap No 1 hw Pitt. 

Load Soot, lb __ — 

Cooper etact- lb 

Tin (straits), lb 

Zinc. E.SLL. Basil, tb _ 
Palladium, (u _______ 

Slhrer ILY.ea 

Source: AP. 



2 French Banks 
Cut Base Rates 




Prim Sep 
31 1.96 




021 BA-r-Ai, 

34 1J4 



ore «5<4 b? 

3 0J1 



oki ur,.- ss-i 

36 0X7 




37 DL17 



31 03* 



“ T 

Estimated total v«L S.183 

-- .'«.* 

CdKl TtW.«eL*591 SOM InL 3459 ' .. 

Pals; TtM.VDl.2J 36 spec tot. nS ■ .J 

Source: CME. 

4 r 

Seize me wnld. 


PARIS— SadetiGAnfirale is 
cutiidg its bast rate to 10.85 
percent From IL25, effective 
Monday, a spokeswoman said 

A spokeswoman for Banque 
Nationale de Paris announced 
that the bank was also cutting 

ite pftfn in OC . 

its rate to 1035 percent from 
1 1.25 percent as of Mcrada 

OTM CUMod PnbrLmt 

prkeJto Ah ta u jii Am lie Oct 

13 i 7 fc a “ a Tm vh ifu ^ 

is a ■ ia m a int wt v5 m 

m Mi M' n ink | uu & 

Taut The International Herald Tribune 
nw 1 Bringing the WralcTsMost 

Important News to the WodcTs 
Most Impcnant Alienee. 


W » 4 » A j W* ISfliJ 

na uun S a |un *8 

w % 

leading government-owned 
bank. Credit Lyonnais, said the 
bank would not decide whether 
to cut its-rale until Monday. 

Ttwreatotam sub 

T«u ca mfct 6830 
TaWfut mtane HUB 
r taiHt imiiUHai 

HM.V LarUM 3 ‘ On»UU 3 + 1 JS 
Source ■ aeu 



p *g« 17 


J5? I* 

*3, £s 

is Say Sell Refinery, 
tions in Eastern U.S. 

Ccllcne '-; i Jpt wkh Birr; Wilstaj ifl San Fran* " 

- ZXZjigda Tuna Serdce CISCO, Said it Was logical Tor Cfev- 

LOS^A&GELES — OcvitHi ion to withdraw from the Eaa 
itt^fid thai it jpaysea its “It ioficws the whole tadosoy 
etefiarefinery md 4,000 gas tresnl lo- restructure, down and 

Eastern stain tobdp p«y debt,” he said. 

debt That trend has accelera t ed since.; 

"' ' ui far the San Fran- Atlantic Richfield Cdi. announced 
oil company said April that it wasabandranng the r 
that h had riistribpted gasoonc marketing baancss cast of 
-e- li to poteniial. buyers,,- hfissisrfppi River. It subs* • 

5»« »« SSj v btS that.4.fonatU deernoa to sell qncadysold its Rriladdplna refin- 
* jgw us* s ^ exy aM several 


& ill tiffin 






nn | 


5 -Vo 




•» SOM*-! ... 

•-3M cttM 

6 '■** •»*> i,*, , 

Vikca - 1 12 

«i oi‘; ‘ 



2=- H 1 « * 

LTVitf Raise Money 





sews 4iia 
- M,if» o"ivxa 

P«c OMSi Jte. 

Ww.Sci« 14)37 

l HM airtJC 



MS AZ.1 w. 

2* * J &l zs 4 a 

.MW ttS CX 

y».Vs»i .Sant 
± 39J 1! OH:s. I? 

tied gas St&- ' ■. 

had not 'been rr^Hf tions in 12 states. . 

Analysts/ however, said Chevron also said if was willing 

d been trying since late tosdladosedrelEBenfandatenm- v 
sdl the refinery, which nal in Path Amboy, Sew Jersey. A 
^purchased Gulf spokesman said the company pro- 
Jota'Cnrfi, an ana* ^orred to-sdl the Northeastern as- 
- sets as a package. ■ 

Meanwhile, Chevron said it had 
received inquiries from potential 
purchasers of its 60-pextxol stake 
in Gulf Canada Ltd, but dedined 
...UrMrttar to identify them. On Wednesday, 

DALLAS - — LTV Corp. an- Olympia & York Developments 
qomuxd Friday that, as. part of its Ltd. canceled an a gree ment to bay 
pbn to &jin off assets, it had dead- the stake for $12 hiTTipn 
ed to seu its subsidiary LTV Steel The Toronto-based real estate 
Specialty Products Co., the second- company has not given an oqrfaqft- 
tegest U.SL products of stainless tion for Us derison. 
sim m sheets, strips and plates. Analysts said Cbevron may be 
LTV .had earlier announced a forced to sell Golf Canada piece- 
meal because few Canadian com- 
panies are big enough to buy the 
entire concern, .whim is valued at 
SS billion. 

that included 
an raise $500 million in 
cash over .the next 18 months from 
joint ventures and divestitures. 

’ si* 




■ TCKYO — Nissan Motor 
'Co. reprated Friday dial 0019 
net income fra the 1984-85 year 
riose lO percent to 8T.77 bmion 
yen <$345 nriHiori) fitsn 74.12' 
t Wffion in 1983-84.: . 

. .-Revenue -rose 7^pt rceni to 
.4^6 tqDioa yttr ffl the year 
.coded Marcb Sr. from 4308 
trilfion m 1983-84; The congjar 

[ ny said amt sales’ rose 

- Z70 mfllKHi in ds^atest jrear, 
-from 2^9 nnlfitm aycar earner. 

_ Nissan s^o\K^pnjaDx> 
hop is erpet^ro arow?wHh' 
the start $ f^_proaactirai ’.af 
can at Niss^ . Motor Mahuftk?- 
♦wring U^A^ and inaewed' 
o^nit in , Mexico. Ansttalia - 

. -A Nissan spokesmansaid the , 
capad^ ^toproducel'20,000. 
pickup trades and ,6Q^)00 cars ; 
annually and ohms to raise it to 
140,000 tSiand 100^)00 can 

- NissanU parent company 
produced?!.^ mflHnn ' w mictot 
ml984-^rd<wnfrom2i2niQr ' 
Bon in 1%3*84. Overseas pro- 
dnetion Regaled 262300 in the 
year, from 174,400. - 

Danish Concerns 
Form Company 
To Search for Oil 


ish companies have fanned a new 
concern to explore and recover oil 
find gas on Danish territory, the 
government-owned energy compa- 

nyJDansk OEe & Natnrgas said 

The new company will begin op- 
erations under me name of Danish 
Operating Co„ or Danop, m Au- 
gust, Dandt Olie said. 

An official in DeommYs Energy 
Mimstry said it soon would an- 
nramocmnd and sea areas available 
forcxploratkin. . 

The coiTBMnies that are fonmng 
Danop areDansk (Mic Og^ Gas Pro- 
duktinn, EAC Energy A/S, J. Laur- 
hzen Hokfings A/S, Chnstiani & 
Nidsen A/S, Bngaaid k Schultz 
OihA/S, EerdR Saxild A/S and 
Mcmbog&TlKvseaA/S. - - 

fkaroogbe to I^r Off 300 

The Associated Press 

fr„ DETROIT — Burroughs Crap, 
Hie U3 ccatqjuter maker, Fri- 
day that it woald lay off nearly 300 
;• of the 3300 employees at-its head- 
quarters and reorganizs manage- 
ment in the face of sagging prouts. 
The dismissals affect mid-level 
managers and office staff, aspbkes- 
man said. 

U.S. Telephone Research Unit Tries to Find Its Level 

(Coatimied from Page IS) 

oommunicarions between the gov- 
ernment and the regional compa* 

' nix 

Officials of some erf dm compa- 
nies say Bellcore is on thfr right 
trade. “A lot of the research mat 
goes on at Bellcore we do not have 
the talent or expertise to do on our 
own," said Patricia A Long, of 
Southwestern Bdl Telephone Co, 
who deals directly with Bellcore. 

.Bellcore's technological contri- 
bhtions so far include a mathemati- 
cal formula that could bdp deter- 
mine the best way to lay out a 
phone netwodt; a method of vising 
inexpensive light-emitting diodes 

instead of lasers lor fiber-optic 
' rnmwmntratiflrt*. »nd a technique 
fra lifting sQicoa slabs to be coated 
with chemicals to form chips. 

“Fm relatively pleased with the 
record,’' said Rooco J. Marano, the 
former president of New Jersey 
Bell Telephone Gx, and now presi- 
dent and chief executive of Bell- 
core. “We started with only a con- 
cept on paper. In jost over two 
years we have created an organiza- 
tion with 7300 people." 

Mr. Marano was chosen by the 
seven regional companies to lead 
Beflcore in 2982. The court agree- 
ment that ended the Bell System 
offered scant guidance; requiring 

only that the regional companies 
provide a single contact point with 
the government for national securi- 
ty communications. 

The agreement also allowed the 
companies 10 “support and share 
the cost of a centralized organiza- 
tion for the provision of engineer- 
ing, administrative and other ser- 
vices which can be most efficiently 
provided on a centralized basis." 

Mr. Marano, 57, drew his staff 
from AT&Ts General Depart- 
ments, a giant adminis trative body 
formerly based at AT&T corporate 
headquarters in New York, and 
from Bell Labs. 

Bellcore seems deienmned to de- 

velop its own identity. “We*re not 
as much an academic institution as 
Bell Labs," said Irwin Dorros, in 
charge of research at Bdlcorc. “the 
regions want value for their mon- 

But Bellcore must deal with the 
fact that with nearly 400 projects 
under way, its employees wonder if 
their organization has direction, 
and' insiders say morale could be 

So far, Bellcore has filed for 16 
patents, five internationally. Bui 
that is afar cry from the four Nobel 
Prizes won by Bell Labs, whose 
accomplishments include the in- 
vention of the transistor. 



Revenue and profits, in millions, cm In heal currencies 
unless ottiervdse Indicated. 

MltmbUM Metal 

--JT MB IfM 

■Shor* 1120 f jn 

APrtn Indmtrteft 



■<ss ssa 




sop U'. ?: ittai )1&B w 

i«-3c ns*] {“* « 

£ JS ig«8ls5igS 

£1 IF* ,nx 5 

sno . tco I’iJ* it,m 

Pro* Sc'r i£7« w * 

M tMI uo)4 

w Ml 

(Vi *j«; 
Q*C t£-SC 
«•« *•» 
Wi M ~ 
J4|C »1 l» 

d*c ij.:, 

W |l 4ofF“ • 
M l*.TM 'j't t 


am luii 





*1 1!> 
a' O', 


M juj, 
« 0B 

cm nS 3 


'411 SB 4 

xn j«3 

6' 38 |U j 
(■A 00 4. 

SS *" < 

JM < 

H 713 -t 

”•0 M 4 

Mitsubishi Joins 
Hyundai on Cor 

. Reuters 

TOKYO — MitsuWshi and 
Hyundai Motor Co. win pro- 
duce a new cm called Ac Debo- 
nair fra the Japanese and Sooth 
Korean markets, a Mitsubishi 
mobsman announced Friday. 

Mitsubishi wiQ design the 
model, produce its six-cylinder 
engine and assemble it while 
Hyundai manufactures part, of 
the car body, the spokesman 
‘p>iri adding that detti Hi of the 
pact had not been completed. 

The car will go on sale next 
year. Mitsubishi said it planned 
sales of up to 1,000 in Japan. 
Hyundai will market the car in 


Bank Leu AG of Switzerland MtaBwortBiwouLalhl^m-i, 
said the balance-sheet total fra the plication, to. open, a securities- trad- 
first half <rf 1985 rose 5.9 percent, mg branchris still ’being examined 
or 689 edition francs ($291 m3- by Japan's RhanccMnnstry.' Secu- 
ticmX to 12J4bfllion francS- Loons ritiraindtBtry sources said the Brit-, 
to cos tomes rase 29 wiiKnn from -ish merchant bank’s merger with 
335 billion Grievesou Grant & Co. delayed its 

Esso Production Mrtfftia lit formal application, 
win spend 900 nuBknringot ($365 Pindential Bartw Securities. fpc. 
utiniraj) in 1985 to install mree off- has lentativdy agreed to acqinre 

.was reacting in part to uncertain- 
ties resulting from the recent U.& 
Army dedston to suspend a por- 
tion of progress payments to BdL 

' Uuinet lac of the United States 
and the trading house Kanematsu- 
Gosho Ltd. wffl seii^j a. joint ven- 
ture in August offering data-base 
sendees. Unmet Jaran Ltd. will be 
capitalized at 100 milli on yen 

shore cal exploration platforms in .the New Yratebannodity sales of- ($420,000). with Unmet holding 60 
Malaysia. Tte company wffihavea fice of Oppeohdmer & Ox. The percent and Kanematsu 40 percenL 



: t Amer. C — U nnta l 

iSiOMT. 1N5 WS4 

Mnnut UU OJ* 

Hot IDC. - - 1U5 XX7 

P*r Short! __ Ua OlH 

tMrtf JVtS MM 

WW XrtjQ 1UL34 

J Inc Wja 7jU 

rsnor* UB 022 

r tmt ttKhjttm lorn eg sa 
la Quarter and S4S 
in had treat tfscoo- 
mr ot lon*. 

i^Amw. Cvnwunld 

teL. m ® 

WSSrTZ « ft 

mwM ms MM 

Smam Un U7i. 

Mine u mi 

pSr Star* 122 U2 

tidjvt toctodt* pn/n ofSSJ 
mmton vs 15.7 million tn 
mirier and SS* mutton vs 
Sj, mutton to haH Item ooh 

■ Amr. Horn* Pradadi 
alow. ms mt 

RWM» UK. 1M 

mw inc. leas \Sl2j 

NiShn Ul iaz 

1-1 ll.ll 



MSL_ wfi SS 

Met Inc. 1 5« U* 

Pmr Sharm. UM 1JB 

Mr shor n resutte o ^u tjgd 
for 3-for-3 Stock split kt IfM 

Bonkars Trvtt NY 
MM. ms IfM 

pS-amZZ Si as 

^ 122 

SM 442 


Nd Inc. USW lk09 

Par Shot* Ufl T M 

mttrnHout tndudn Income 
0/SXT7 motion mm dtscon- 

Bail Atlantic 

SSSSSr rz =55 V 


MM Inc. . 


total erf 20 offArae platfonns in terms were not disclosed. 
Malaysia by the end of 1985. . 

Hewlett-Packard Co. wffl dose 
all facilities except sales rrffices fee field of 

AG and GTE Crap, are 
“ — ' 1 — “ m die 

Wyn a I ntm rahwiom htC-’s presi- 
dent and chief operating' officer. 
John F. CwnnTnghiitn , has resigned 
and win start work Monday as the 
duel executive of a small computer 

Marine.* JCJ« 

pS Shore _ 2X7 ZU 

MM not Indodm OJt ntHUai 





SodOonr. IH4 

Ravama 12U. la 

Naf Inc. 54.1 57 J 

Par Short i.» U 2* 

laf MaM ms HM 

ar TS?n *<& ^ 

Par Shore _ 2J2 121 

WhQoor. INS 1M4 

Ravaooa 42 tJ 403 

□par Naf 2CJJ (017JD 

OparShP/B— L70 — 

Vaor IMS 1M4 

Ravanua UOO. ijao. 

□par Nat (o>*4 1.1 

a- JMtiyjlln/HiattgA 
far m e to n ad dMdkndt. IMS 
vaor not orckxtot tots of S19 
mHNon tnaouBBantinimdap- 

Onmpioa Inn 

ms ms 

on ff or two days a month- through mens spokesman said. He Berimed 
October rmd mi phi order extended to say what land of ag reement die company. Computer Consoles Inc 
“ hnKriay e" for ThanVcgiving and two com pa nies were considering. of Rochester, New York. The rea- 
Christmas. The crammter maker Textrou lnc. has d eci d ed to end 
said the 45,000 emptoyees would . efforts, to sdl its Befl Helicopter 
not be paid for ihedays off. fabddiaiy. The company ^akf it 

sons for his departure after 1 8 years 
at Wang and two as president were 
not given. 


r. IMS HM 

. i un. lifk 

Nat Inc. 1725 TU 

Par Short— Z«t Ui 

TtfHoM ms IfM 

»S?z= & 

^r Short— 420 U* 

Par Shore B42 04S 


Kavanua UA- 2400. 

Nal Inc. 17.1 W3 

Par Shore US Ml 

Dub A BroUstrMt 


Nat inc. _— run a 31 

Par Shorn Un US 


2nd Quar. IMS HM 

Ravanua SBS.9 491 J 

Mat Inc. 7TJ S9J 

Par shore OM OJS 


Ravanua 1M. tU5 

.Nat inc. nil *45 

Par Shore— Ml I.II 

GeneroJ Foods 

lit Over. HU HM 

Ravanua Z2TO. Z24C. 

□per Hat 77 J 72 J 

Opar Shore— 145 141 

1984 aoorier not excludes 
poto o/SSf.l mOdon from onto 
ants restructuring of certain 
tonopor ot to m. 


- "S5 ^ 

— 0.14 Ul 

iStHott MU HM 

Ravanua 6140 4316 

Nat inc. 706 xus 

Par Shore _ Ul 004 

Repubnc New York 

StiiSr »M 3433 

Par snore— MS M> 
MHaH ms 1IM 

NtlhE S*M 47.14 

Par Shire. 2*7 3J* 

Rohm Attaos 

ParStmre^i: 1M UH 

MS.- 4K 

RfSS&r^: 2o ’SS 

Soott Paper 

2nd Otar. HU 1*M 

SvSua 741.1 712JI 

Nat inc. ai su 

Par Share UB !*• 


R avan u a 1AM. 1^00. 

Nat inc. *M *73 

a— W Ut 

> (GJDJ 

HU 1M4 

VBA 3214 

Nat Inc. «2 344 

Par Shore US 077 

1** Halt HU HM 

RavMHM 7157 6 OS 

Nat inc 77.1 «£ 

Par Shore I AS 77* 

SocurHy Pacific 
3Bd torn-. 1HS IfM 

Nal inc, 7*2 6U 

Par Shore — UB on 

IN Half IMS IfM 

Nat inc 1527 134* 

Par Shore ZU US 

7PM oar JMra nooltt rostat- 

rtt to nrttoct 100% stock dtvt- 

2ad Qaar. INS IfM 

Ravanua 4044 5573 

Matlhc 245 254 

Par Shore 133 1*9 


Ravanua U*. 1*21. 

Net inc 343 306 

Par Shore— Ul 130 

Southwestern Bell 
2nd Oaar. HU IfM 

Ravanua — 1W u» 

Nat Inc BU 212-1 

Par Shorn — 2*1 3.1S 

Ut Holt IMS IfM 

Ravanua 3310. X470. 

Nat Inc 521-5 417.1 

Par Snore— SM 431 

So err y 


- uaa 1.190- 

Ntt Inc 51* JM 

Par Shore 031 037 

7984 not Inctudos chan • ot 
OM mutton tram wrttodoom. 

Springs industries 
2nd Qaar. MS MM 
Ravanua— 3044 S03 

Not Inc 1.91 10*0 

Par Shore— U2 1.12 
IStHoH HU 1W| 

RavMua 4113 459* 

JS5TST— 5.13 iu 

Par Shore— 0J* 2.11 

Stanley Works 

2nd Quar. HU HM 

Ravanua 3113 2923 

SnS:— M.U 1111 
Par Shore — 070 045 


Ravanua SJM SS7J 

Ntt inc — 3117 31.M 

Par Shore US 1 M 

Stole stmt Boston 
2nd Quar. INS MM 

Mat inc. »X5 104 

Par Share U3 1.15 


Nat Inc 273 

Par Share— 2*7 

2nd Qaar. HU 

Rtvtnut 3057 

Nat Inc 17*3 

Per Shore 035 

1st Half IMS 

Ravanua—. 5923 

Nat foe hj 

Par Snore 17a 


2nd Quar. 

Rav anua . 








2nd Oner. IMS MM 

Ravanua 3406 2*5.1 

□par Nat __ 543 S61 

Ooar Share. L30 L44 


Revenue 4593 4427 

□par Nat 1.77 1239 

OPar Shore- 04* 044 

doe net ndM » nMunS 
norv ootn ot IM million Id 
ouartor ant S8M million m 


union Bncp 

tad Qaar. IMS MM 

Nat inc IN 1.W 

Pw Shore— 13* Mt 

10 Htdf IMS IfM 

Nat Inc 348 143 

Par Shore 273 254 





United Firs* Federal 






«*h Qaar. 

Net IOC 

Per Short 





i s 




_ |T^M 





Net inc 

Par Share 







United Jersey Bln 
I Ooor. IMS HM 

Nat Inc *31 733 

ore 131 1*5 

lit Hod HU MM 

Nat Inc 17J5 163* 

Par Shore— 242 212 


IP Hot# 

Ravan u a — 

Nat Inc 

Par Share— 

ms not Modes income at 
Uaa vs 8788 minion In Quarter 
am SKS.I million v» 1 73U 
million tn halt; ootn ot 881 J 
million v3 P tt * mflhan in 
auort W ana 8743 tnOUon ot 
42427 mutton to nod tram 
tola ot Inaa tt me nt tj ootn ot 
SOS million ot V4J million in ... 

Quarter and toss of UP mo- Boiteorp 

Uon vs ootn ot Sid mutton tn tad Quar. IMS IfM 

nod from mQutTY oot ot uncon- Net Inc I4A3 1463 

aoUdatod subsidiaries. I MS Par Share 0*i 074 


“Wine 30*7 37 JS 

rkretton In tax UabititV. Par Shore __ 132 Uf 

Teem Comm. Bnahrs 
Md Quar. IMS IfM UPlohn 

Mat me 31.1 644 tad Quar. HU HM 

Par Share— a*5 1*3 Ravanua 5413 904* 

Mt MaM IMS HM °QO* Hal 5225 4*3 

SJJW 603 733 Opar Short— 1 6* 131 

MStwre— 1*5 2*4 lit Hah IMS MM 

TUne Ravanua UD0. 1*W 

1 Opar Nat 107.17 1143* 

tad Qaar. ms MM OparStiore— )4* 377 

RlWfHM 77T^ 

Marine— *032 6Q.M 1983 not e. etudes auto ofJlJ 

Per Shore 034 Ul mUOon ot toU OtSSSkOOO In 

MMM ftflS 19M Quarter and ioas at St AS mil- 

n** jV!? . Hon vs JZJJ million In had 

70426 1(047 frem diocanhnuad opera- 

N at inc 

Par Shore 1*4 


7MS Quarter net tochxtat re- 
sults ot Southern Proora es 
Cento ovrxMsted In Mortft. 

Todd Shipyards 
Ut Qaar. IMS IfM 

Ravanua 941 155* 

Nat inc 2*7 43* 

Par Shore 070 1*1 


3nd Qaar. 


ItM tad Qaar. 




IJM. Revenue — 


Nat inc 


6X8 Nettnc 


Per Shorn 


1J0 Per Share 


ut ttatf 


MM lit Had 


Ravanua — 


X*ML Revenue — 


Net Inc — . 


12X8 Net inc 

22 56 

Par Shore — 


137 Per Share — 


Wells Faroe 


Mtl IOC 47** 40*5 

Par Shore Z05 UI 

Ui HON 1*U 1M4 

Narine *2*3 BUS 

Par Shore 400 X1S 

Yellow Freight Syst. 


Bay r 

TA 5* -P 

SJ4 u rtf 

midi SA -t 
li M i 
■-52? aa -i 

:•*. ?.b ■* 

:*» as 
r**£ -4 

'.it U 4 

:«c at 




• NASDAQ prices p* of • 
* pun. New YetK fimn. 

- Via The Associated Press 

. ,.".v 

a*** * 

NtoeLon Stock 

Dh. YkL S » lB Hl0h 

Low SPiXCne 

1 ■ - 


If 11 


mi M 

25 1M ASK 
22 M AarnRt 
T2H SB Acodln 


I AoUrtn 

249* M% AcuRny 





3D J 344 


! pTT'-. 1 - • 
i »*-Fi - e r. r-. 
j MO*' »c r 'f- 

> -.yil '. 

f«rr-5r : 


. i ve- W * 

» 2U AMdrn 
I7R IM AnEWi . 
35 V* 14V5 AacvRt 
1414 *44 AjrMd 

W2ZB 4tk Ataam 

„„ 4H Aleerax 
3495 WWAtopWI 
m u AiiaaBv 
■2H6 204* AUtfBn 
S 146 Afloat 
1Mb 514 AMMc 
14ft Ok Arts* ” 
am T3M Amcost 
12 Mb AWAIrt 
1716 Mb AlllAdv 
Mb . TOM ABnkr 

% a s^r 

17% UB AFdSL 
.jib 414 AmPral 
!*b U AFtotcs 
.37 H 27ft A Great 
,14ft SB Am mu 
bm 6 AMosnl 
^Tft 1414 AMS 
WI 2214 ANtlna 
7ft 4 APhvG 

UK 7ft Amstta 
■•±. 11b ASotar 

1b Aim . 
i Amrttr* 

*0 44 


•10a * 
1*0 4X1 




J» J 3* 
M ZO 63 
*4 3* ?S 

M 25 64 


t «2 

JO 17 452 

JO 3* 92 

t 32 

*0 27 744 
. JB 17 3401 
JO 10 242 

141 23 59 


742 XI 4* 






"■ MS 


17M 17Vb 1714 

UB ISft Iffft + Vs 
5 4ft 414— ft 
2714 21 21ft 4- ft 
20ft 2Mb 20ft— ft 

n Va im n + ft 

14ft 14 16 

12B lift 12ft + ft 
lift lift lift— ft 
13ft 13ft 13ft + ft 
12 12 12 
aft a Sft + H 

16ft 1SB IS*— ft 


■ 3* 

30 — ft 
35 —ft 
7 + ft 

If +ft 

U0 19 


12* Amrwst 
3* Amoao 

16 AmcfcB 140 15 
® Uft Atnpoda 40 15 230 
W *■ An logic 337 


- . An topic 
W 7H Anoren 
u* Andrew 

S i a a? 

i)» ! y"f 111 

dm 14* APPlaC 
■n* 10* ApiBla • 
l*w Uft AphlCm 
20. ApIdMI 
-• ■ ApMSIr 
3ft Archive 

f 1S£^ V 

U16 IM AidHat 
* .gt Aatnwv 
«* 10* Atnsr 
11* AHARi 
25 AHntBc 
}** 7* AttnFd 
M M4 AH Fin 
» T*ft AH Raft 1 
M AtSeArs 





*0525 35B 

.12 * 

M 20 
40b 16 
*0 11 

AdCM . *0 AA 
















36* 34* 34* + * 

4 J£ 

VI* + ft 

7ft 6* 7ft 
28* 28ft 28* + * 
16* M 16*— ft 
14* 14* 14*— ft 
14B 14* 14*— ft 
19ft l? 19ft 
10ft W 10ft + ft 
21 20ft 2M* + ft 
77* 17ft 17* + ft 

?S? 8 5 38=2 

lMt 1M4 19*— ft 
32ft 3V* 31* + ft 
I* 7* 7* 

IX* IS* 13ft „ 
6* 6* **— ft 
ZM4 21* Vh 
2SB 2Sft W6 
42ft 42ft fift 
13ft 13 Uft— ft 
13* 13 Uft + ft 
29 28Vz 39 + ft 

A W ft 

^4*^b + S 

» 19ft 1W 
TBft M*. 1**— ft 
4ft 4 * 4ft— ft 


* .7ft BRCom 

u* BanooU 40 46 

ltft.BcpHva U4 16 

6ft BongH 6 JO 73 


8S8> . 

6B BoronD 
4 BsTnA - , 



5ft BocbCf 
Uft Banhon 
» BetzU) - U2 II 
n BieB 
«* RtgBaor 
1ft BUW 
f BMtvr 
Nb.BftRas'. . 


..O' *" — , 

* e / J3B » 

&■..£* miutoFC 


tSk IS ®twTdm 
IS 13 

li JJ* 15ft hrrdvm 

3S* ... _ 

57ft 37* 57* 

7ft 7ft 7ft +ft 
10* 9* 10ft + ft 

^1^+ a 

3 3 — ft 

12 * 12 * 

H I*— ft 

7* 8 + ft 

1* 7ft _ 
7* S* + ft 
.... 9ft 9ft— ft 
36* 35* 34ft + * 
23ft 2W 23ft . 
7* 7 7ft + ft 
26 25* 26 

5* 5* 5ft— ft' 
23* 22* Sft 
13* 13ft Uft + ft 
4ft 4ft -4ft. 

1* is 1*— ft 

15ft IS 15 —ft 
20* 38 28ft + * 
lift 17ft lift + ft 
It* 17ft lift + ft 
2 Sft 25 * 2 Sft 
. N ftt 6ft— ft 






Hip) LOVr Slock 

Mv. m Wfc fifth Lap j Pin area 

3 1*CapCrb 

» i* 

psssr* »• 










71 5* 

Sift 21ft 
7ft a» 

15* 10 
31 22* 

32ft 13* 

u* nbQiOwi 
73* 4 ft Orms 
40ft 21ft Ontoa . 

34ft 14* aohjte 
12ft 4* Ctprico 
7ft 4 Clrcna . 
a* 14* CtsSOo 

34* 21 

IX* 9 QIW 


21ft 200 104 

28* 7ft atMma 
17* lift ContfF 
20* 8* CobeUj 

4546 28 CocoSn. J4a 13 
19ft 1» Qtour 
5* Ws Coaanlc 

a ss , a® B 

’a ^^sssr 

35SSS fift= « 25 

31* IS CofoNt J4 15 
18 5* Conwra , 

28* 10 Comcala .12 A 
1546 10* Conaflo .U 13 
Sft IB Comdtol 
43* 27* Comoro 2.10 U 
43 22* CmcoV 7J4 If 

Uft fft Cm! Sir 


30* - . 

15ft 7* 

M 12 QnpCdS 
MM 3ft Comnon 
25ft 72ft CmpCrs 

wt Mb 
30 ‘ IS* 

uft a* 

7* 3ft CPtEnt 
10* 4ft CmptH 
fft 4 ClWfth 

lft ComAm 
Uft Comlpd 

2* — - .... 

6ft CnioPda 
a cmTefca 





11 * ... 

4 2ft 

1Mb 6 CamShr 
9* 6* Concpil 
27 lift CrtCop 
Uft 14ft CCopR 
26ft 21ft CCc^ 

9* 6* ConFbr 

*£.Y2Sgt'3V J 

ss tPsaSpMta si ’a 

IS* MbCHHtta 32 

27* &h _ 

5*5# +§ 

19* Uft M* +ft 
27ft 27* 27*.+ U 
17* 17* 17* — ft 
lift M* Mft + * 
45* 44B 44ft— ft 

17ft Uft 17ft + ft 
3ft 3ft 3ft ‘ 

11* W* MM— ft 
4* 4* 4* 

2VN 21* 21ft— * 
1* 17ft Mft + ft 
20* 20 20ft + ft 
T3ft n* 12ft + * 
a* 2ft -r* + * 

42ft 42ft 43*— ft 
42* 42* 42ft— * 
10 ft 10 * 10 ft + * 
i* ift ro + R 
27* 27* . 

JS JS ■ 1*1 

20ft 20* af* . 

.9* 9* + * 

f 22 ft 22 ft + ft 
J* 3*—* 
9ft 9ft— ft 
9 27* 21 

9ft *ft 9ft 

7 6ft 7 + * 

a s* 5ft . 

7* I + ft 
17* 17* 17ft 

6 * 5 * 6 * + * 

% $» ift"* 

JfjF ” ' 

Jft 7 

4 CtLosr 
16* 4ft Convpt 
24* 14 - Cnnvraa 
Sft 1* CopTBip 
21ft 12 Coot* b 
41* Uft Opvm 


40ft 32ft Corest 241 
5 1ft Cnreua - 
7ft 3ft Coomo 
24 11* CrtiM M 

14ft .** Cronus 
29ft 1«ft CroaTr 40 
14* • CWnBk 
34ft 12* Crun» M 
33* 18ft CuUhFr 34 
27* Uft Cultum 46 
27 17* Cycore 



■ U73 

AO 19 3464. 










6ft 6* 6*— ft 
24* 31 24* 

17 17ft 

23* 21* 

. _ 7ft 7ft 
Si* 49ft 50ft + ft 

1ft ift”* 
40 39ft 39ft—* 
14* 13* 1» 

7*. 7 7* + ft 


6ft 6* 4ft 
10ft Mft 10* 

60ft 40* 40*— * 
2* 2 2* + * 
4ft 4 4ft— * 
14* 14 14* + * 

14 13ft U + ft 
26* 25ft 26* + ft 
lift lift. 11*— * 
24ft 34ft 34ft + ft 
If* If If 

+ ft 





30* „ 

37ft M 

29* U* Dotes? 









. 39 



f*. I* I* 

Sft Sft .5*— ft 
lift 11 II 
.if u* lew 
6ft 6 6 — ft 

HW lift 10ft— ft 
4* as 4*. 


’8! * f +■, 

2ft 2ft 2* 

21ft 21 31ft— * 

JSBSgb 1 

Sift 20* DaW DA 
4ft ft DeitauB 
Mb I OeMcr 
fft 3ft DCfilMd 
5* 1ft Dtawjtw 
W 10 Dteoon 
7SW 4. Dtonod 
29ft 12* DtatCm 
36* 22 Dtefto* 
15* I Dvlocd 
fft 3ft DootOi 
29* li wrom 

46* 13* D0VIOB 
14* Oft Drontz 
If » Dreslr 
If* 11* DrevGr 
19ft 12ft DucfcAl 
25ft Uft DuniD* 
Uft fft Durtren 
15ft Mb DurFPs 
»* 3* Dvn*cn 
28* 13 DWUeftC 

.13 .1 

30 LI 

J4 10 

30 J 

1JD 13 
JO 1J 


Uft Mft 16ft 
tft f* Mi— H 

S im is* + ft 
27* a + * 

VO 102 -HU +1 , 

4 3* 4 .+ * 

5* » 5* — * 
4 . 5* 5*- ft 
19* If If — ft 

«1ft hk~* 

3ft f £-* 

’SS ’a- 3 

fcfr 1 

2W 2 Ift 25*— ft 


^^ft^S + ft 

rsi , u 

16* 16ft 16* + ft 
25ft 2PS 2L — ft 

27" 36* 27 + ft 



11 * 



12 * 

12 * 

21 * 

** ECtTel 
7 EIP 
1 twin 


101b EiPas 
7* Elan 
fft Eieito 

4Si iisr. 

.« u 

-Ut 13 

1A6 M 










1 -11 lift— ft 

.._ h 

70* Mft TOU 

« « « * 
r* *ft 9* 

7* 7ft 7ft— ft 
17ft 16ft 16*— ft 

HtohUw Stock 

s^ttln iw 

DM YU MB (flan. Ltar J PJ*. OCm 

If* ... 
12* 4* 
13* ■■« 


















+ ft 

lift- 11 lift— ft 
10* 9* 10ft + 9* 
■ft 7* I —ft 
4ft 6ft 4ft 
3ft 3ft 2ft— ft 
4* 4ft Sft + * 

n* 11* 11* + * 

17* 16* 77 
16ft 16 Uft + ft 
Uft M U 

13* Uft 13ft 
4ft 6ft Sft 
29ft 29* 29ft— ft 
UB U 16 
--Ift lib 4* - 

I + ¥1 

, Tl* SB FDP ' 

Mb 5* PMI 
TXVs uft PormF 
M 34* PreaG 
23ft 12 PadGpa. 

Oft 4* fftroRo 
14* 6ft Qbrena 
34* 10* Fkflcra 
56 32* FWhTa UB 

37* 21*505* AO 
21ft Uft n h n la c 
IM Tift PWrM JO 
4W X* Plnolco 30 
f* Sft Rnomx 
34W 5 Unload 
31 17* PAJolk 1,72 

32ft .23 FtAFln 33 

I* Ift At 

sw m sft + 




39ft 2Mb FComr 
f* 7* FlCont 
31ft V4 - FDcrtaR 
15ft 7ft PEsk. 

Sft II FFdCal 
24ft Uft FFRM 
29* . IS* PtFnQ> 

U 10* FtFnMs 
Sft Uft.RFIBk JO U 10 

34W 25 FJarHt IS S3 46 

Mft 2M FM8B 1A4 2J 433 

42* 19ft FNtaniUO 34 Ul 

2&.5&ns iSr H s 

a 23ft FTanNt U* la 
27ft FWUnC XU 24 

lift TO* fSSI M 34 
20* Uft HaFtf . JO U 
34 FlaNFl M 1J 

.&nu j- ts 

2* Fenartt _ . » 

Ulb 0* FUton A Ot 5 93 

Mft 9* FLianB SO A 1U 

34ft 21ft For Am M 28 72 

24ft 16ft ForystO UB 3 3 

23ft ,12ft FortaF ■ m 

4B lft FortnS 1179 

n* 4ft Forum JS 4 1520 

Sft 4ft Fatter .M 1J 82 

2PB Uft Prerant A8 13 U4 

15ft 6 , FoOrck .1829 

Uft »* FotrHB SUB 







„ ft 

IS* 14 
Sft 40* + ft 
lift lift— ft 
Sft SB 5* 
l« IW u 
32ft 32ft 32ft— ft 
55V. S 55 
37 . 34* 35ft 
21ft 21* 2Hb 
15*. 15* 15ft 
4 ft 4ft 4ft + Ml 
6ft 6ft 4ft— ft 
Uft Uft 13ft— * 
■£*. 31ft Mft— ft 
39 Wh Sft— ft 

37 34ft 37 + ft 

T7ft 17ft Mft +* 

^5b I — it 

S 3Ub 32 + * 

Uft IM Uft 
S* S 2*W + ft 
Sft 25 25ft + ft 

38 27ft 38 + ft 

lift lift 18ft + * 
30ft 38ft 30ft 
3^4 34ft 34ft 
65ft 63 64ft « 

41 39ft 39ft— 5ft 
Ml 23ft Uft 
ms 3*V) W* 

Sft 25 25ft 
34* 24* 34ft— ft 
42ft 42ft 42ft— ft 
4XB 43* 4344 + ft 

6ft 4 4ft + ft 

uft n mb 
S If* Mft— ft 
41* 41ft 41* 

Uft T7ft 77*— ft 
Uft 74ft Uft — ft 
4ft 4 4 ft + ft 

.17* 171b 11* + ft 
II T7B T7*— ft 

10* 70ft 70ft— ft 
5ft 5ft Bb „ 

‘ 27* 27* 27* + lb 
- m mb .ift + m 
16* 16ft Uft . 




3ft GTS 
7ft GaUfto 
4* GonwB 
1* Gordo 
3W6 Gw»lch 
4% GanaU 
21b Ganox 

7* GoFBk 

3* : 


Uft IT* _ 

17ft fft GoM 
lift Uft GoutdP Jb 4J 
15ft 10 Groco 44 U 
*B 5ft Gnmtrt 
17* 7ft Grahl 


Mr U 

. 7 














4ft— » 


4 ft 41b 


2ft 2ft 
49ft 49 4Jft + ft 
7ft 7* 7*— ft 
- 3ft 3 3ft + ft 
19V. Uft If* + ft 
8* Mb Sft .. 
24 22ft 24 +lft 
lift U Wft 
Uft 14* 14ft— ft 
17 14* 17 + ft 

17ft 17 17 

14Vj 13ft TXB 
| 7* 7ft— ft 

17ft 17ft 17* 

22** II* 21ft + ft 

uft n uft + ft 

Uft lift lift 
15ft 15ft 15* 

14 73 lift—* 


.10 A 

iiS X 

. HaMNV* _ 

7ft HotoKB JO 

i* Hflhin 

2Mb m J6 J 

24ft Uft HchoSt M A 
fft 3Vj HttonT 
37* 2lVt Hall* 

Sft 29ft,HenrtP WU 
34 Uft HtearCp L08t> 43 
73* MbHfcbom 
15 lft Hseon 
TPS fft HraFAi 
17 5% Htnecff 

24 75* HonlrvJ 

anb 22ft Hoover 
Sft Sft Horzlnd 
36ft IMbHtoBKI 
2Mb lift HurtJB 
14M 7 > Hoteln ... . 

4ft Hyecnx 

HHrMM ■■ 


J5e 2 



22 * 22 ft 22 * + ft 
lift 11* lift + ft 
20ft 20ft Sft 
4 M 4 fft 
2 2 * 3 4 -ft 

* * * + ft 
16ft Uft 76* + ft 
»* » 20 * 

Sft 7* 7*— ft 
3* 3* 3ft 
3ft 3ft 3ft 
Mft 7* 79 

Sft Mft If*— ft 
Ift 41b 4ft 
24ft Mb Sft- ft 
35* 35* 35ft- ft 
2t 23ft 22ft— ft 
10 ft 10 ft 70 ft 
4* 4ft 4ft + ft 
22* 22M. 22B + ft 
7* 7ft T>ft 
24ft Sft 24ft +* 
27ft 27ft 27ft + ft 


4f • tt* 49 
24ft 25* Sft + ft 
lift H lift + ft 
■ft 7* Bft.+ * 


lift 7ft ILC , 

30ft lift IMS* ‘ .74 £ 

16ft 71b ISC 
as 31s icet 
Wi 4 imtHWx 
» 2M Ipoemp _ ■ . 
44B 04* I ndlW L40 2J 
32 20 injpfttt 

34* 1414 Whit 
33ft 15 InstNtw 
121b 3ft iPteoa 
15 M i ntgO v 


37ft 32ft Intel 
14*. -4* intlSv 
3ft 7ft IntiTat 
B* 3ft intmd . 

s*. sslsfta? 

Sft Zlft IntBPhs 

s Sft itaw 
25V) .13* intKfas 







.16 1J 




Wft 10ft 10ft 
S 29ft »+ ft 
12ft 12ft 12* + ft 
6 5ft 6 
Mb 4 ift 
Sft Ift Sft 
46* 46* 46* + ft 
29* 2fft 29ft— ft 
lift lift lift— Vs 
25* 25 23 — ft 

Sft Sft 5ft 

u t2ft 12ft— ft 

» 3* J* + lb 

S* + ft 

% ft 

13 U 13 + ft 
a 7* 7*— ft 
73ft 12* 73 —ft 
33 32ft 32* - 

' 7ft I + ft 
Mft 17* + ft 
■ I —ft 
15* Tflb IS* 

18ft 18* 10* ■ 

19ft If Mft 


liiifriti Sols to N#t 

jfitUJa Stock Dh). YT d. 80s Hkto Lou 3 PAL Cn* 

i&B tl* inttae 


25ft a* iTCpa 
Wft 5 lomaon 
XtW 8B teomdx 
5b x* Hat 






lift TO* + * 
7ft 7ft— ft 
* I + ft 
S 25ft 
ItM 11 + Vb 

7* 7ft 7ft 

4ft 4* 
40ft 40ft— 1 

7* JBRata .16 1.1 SS 14* 14ft Uft — lb 

Mb Joctoot to ~ 

25ft JoCkLte IM 

14ft JornWlr 43 

Sft JafMorl 152 

74* Jartco .13 A 480 

1 Jon lew t 67 



JO XI 220 
















Ift ICV Phr 
If* Karnan 
un Korehr 
lift Koater 
Jft Kovdon 


4ft Kavaa 
7ft KevTm 
3ft Kknhrtc 

72* Klndara 
+ft Kray 
.7ft Krapar 
U Kutcka 


!J K0 


XO 202 
2J 21 

J 308 
J 111 
2J 153 
18 at 










79ft 19ft 
Mb 6* + 1b 
Tift 311b—* 
1Mb 1Mb— lb 
15* 15ft— lb 
fft 9ft + ft 
60ft 40* + lb 
3Mb 39* 

Mfc Mb 

ns 1 + ft 

3ft 3ft 
21ft 211b + * 
4ft 4ft + ft 
73* 13* 

15ft 15*— ft 

























4* LDBrek 

R un 
LSI Loo 
10 LTX 
7ft LoPateB _ 
2VB Lfl2 By L40 
>2ft Lo^Frn -U 

7Mb LomaT M 
U I tmr m l * 
73* LndBF 
32ft LoneCO 
79ft Lnani 
4* LeaDta 
Mb Lelner 
7ft MAP 
2jy L*X Icon 
1* Lexfdio 
17ft Ltobrt 
S Lflnva 
4* LteCom 
0* UlyTid 
If* UnBrd 
34ft UncTal xs 
4ft Ltodbro .16 
Hft LtzOa 1 m 3S 
30* LnneF Ls 
151b Lotus 
19 Lymtort 
7ft Lyptai 




*2 S 
l\ S 

4J 29 
2J 1052 
13 3 

J S 







20 * 




7* 7* 

14* 14* 

15ft 15* 

13ft 13* + ft 

14* IS. 

47 471b + W 

20* 20* + ft 
17ft IM— lb 
15* 15B— ft 
151b 15* + ft 
' 28ft — ft 



30 L5 







S3 9 

I H 









22 * 












29B 30« + lb 
* 6ft — ft 
IB 70 


2216 22ft + ft 
lift 45ft— ft 
5* 5* 

Mft If*— ft 

32ft 3Z* + lb 
3SW 35W 
Sft 5ft+ ft 
a «* + vi 

23* 34 + ft 

21 2C* + ft 

2414 2414 
27* Uft + * 


r m 

'4ft MIW 
3ft MK1B 
15 MTS S 
73 MTV _ 
9ft ModiTr 
19ft ModGE 

MB 11 + (b 

Mb Mb—* 
7ft 7ft 
4M 4* + ft 
20ft 21* + ft 
■” 37 + ft 

UB— * 
M* + ft 
23*+ lb 



... 2* 

S ft 31ft +lft 
ft 23* + ft 
Mft 141b + ft 
5 5 —1b 

4 4 

35W 35*— ft 

10 * 10 * 

10 * 10 *— ft 
4 Ift— ft 
Uft Uft— ft 
21 27* + ft 

Mft 3f* 

6214 62ft— ft 
30 30 — I* 

35* 34ft + ft 
If lfft 
17* IT*— Mb 
16ft 17 +* 

'St ’§-2 

ift a+ft 

914 fft— ft 
7ft 7ft— ft 
SVi 5ft— lb 
3ft 3ft 


4* 5 + * 



| Qbtaam 

Sotos to 


1 Wan Low Stock 

Dtv. Ytd. 


riton 1 

aw 3 P.M. Oft* 


7Vs MwtdBk 






UW Nowpt 





74 ft 

24Vi — ft 


Ift NwpPtl 















nee + w 






i* + ft 


MW Norrtstr 






47*— ft 


24 NrakBa 






5W Noreton 




5 NAHIf) 



7* + * 

'4 + ; 

13 MoNG 












sow— ft 







34* Posed 






51* + ft 




5*— ft 


lb Numeric 
6Vb NuMF 









6* NuMads 





2 fVrvaw 




3 — ^ 


■W Ocflto* 




17 — 


25* OollGP 






45. -n 


34* OtitoCa 






67W— ft 


15 OtdKnta IJM 




» - 1? 





40W— ft 


Uft OtdSnlC X40 lXA 




9W OneBCB 

340 1.1 





22ft + ft 

3* OnLtee 




7ft— ft 


13Vb OptlcC 




15ft .. 


22ft OpHcR 




•ow— w 

ton Oraanc 





Sft Orbit 




7ft + ft 












24W OHrTP 






J3B- ft 

fft OvrExs 






12 OwanM 
ft Onaoo 







B ft + fc 

11 m 




10ft PNC I 


32ft 31W 

321b + ft 


120a 26 






7 PocFtt 




14ft— lb 
lift + ft 


10 . PodTat 


5 J 





10ft PocoPh 



L -J 

16ft + ft 

6__ PonOUbi 




■ 1 





?s»ss a 









iS + % 


5* PouiHr 






5ft PouiPI 




1: HX-1 1 

k l 

■ , 




1.1. .1 



















» m + 2 


10* Pantn-s 
7* PaapEx 





It J 






2 Bft + ft 

| ff ‘ j/ J 




7 + ft 


4* P5FS 






lift + ft 

12* PhflGl 





15 +?* 





2* + ft 

17* Ptesov 


24 U. 








22» + ft 

26 PlonHI 
8* PoFolte 






Mft + ft 




If PicvMg 



19ft— ft 

19. Pore* 




MB— ft 


1* Powell 



7*— ft 






IB 1 ..1 

5ft PwConv 



* + « 

17ft PrecCet 


















33ft PrtceCo 



63ft + ft 

f Prtranx 





28ft Pree8s 












U* + ft 

Uft provin 




IF* . _ 


3* Putimn 




7* + * 


1 r .Tl - , 1 L - . M 





25ft +lft 






10*+ ft 





Ift + ft 




16Vfc Q wilt 11 


27ft 26* 

271b + * 


% §??5?2 





11**— W 


7* Quetrn 




11*— ft 




Uft- 6 * 
36 Uft 
• . ift 
MB 2* 
Uft Ift 
lift 6* 
12 * . 6 * 
fft 4* 
35ft 14* 
Uft 171b 
12ft “ 
34 23ft 
35* IS* 
291* 15* 

6* 3* 

Uft 7ft RAX Ale .1 
1Mb Kl RPMs 84 33 
14* 6* RodtnT 
11 5* Radon 

7ft 2ft ROOM 
33* is* Raters U» XI 
20 12ft RnvEn J4 13 
23ft UH Readng 
10ft 5ft Recotn 
3» 2CB RadknL A* 23 
12* 3* Raevas _ 
fft 5ft RocyEi JO. XS 
20ft 11 Rratis .n J 
Uft Ift ReOat) 

10 tab RpAuta .1b IP 
20* 9ft RpHtttl . , 

uft 9* Rtuiari .ISe li 
29* 17ft RautrH J3a .0 
43* 21 Ray Ray 134 2D 
15* 9 Rhodes J4 17 
10 3ft Rlbilms _ 

I7ft 10ft Rivol JO SJ 
33* 24ft RoodSv U» JL5 
UB 1114 RabNua J6 J 
T3B tVb RohVm 
Mft 15* Routes M 13 
U 5ft RovPlm 
13ft 4* RoylRs 

if* 11* ftyonF* 

u 7ft SAY ind 
7914 10ft SCI Sv 
T*M 10ft SEI 
1514 7 SFE .Ur 1J 
Uft WbSPDruB 

W4 lft 5 <d4QfO 

lift !», ' M U 
Uft -7M SUute 
75ft 30 51 Pari Xta 4.1 

6* lftSoJCol 
fft 5* SotetSv 
44ft 33* SOtmF 
311b 111b SvBkPS 
lift 61b ScanOP 
tt lib SeonTr 
12* I* Scherer 

30 7 seistl. 

21Vb U 5dtex 
fft 6ft SaoGoi 
nib 4 Sfooate 
Mb Sft SecToo 
121b 1* SE~EQ 
30* 17* Seteet 
It* StoSemrtfi 
Iff* 5* Sensor 
Uft 10* SvcMer 
25ft 17ft Svmstt 
21ft 14» Santo 

Mb Ift SvcFrel 
17ft lift S^Oofc 
34* 21M ShrWOd 
991b 2714 SttoMllta 
IM 9* ShefOy* 

Mft 61b Shaldt 
35* MB Shanovc 
U* lift StnnSes 
MB ift Silicon^ 

22ft fft silicons 


J2 15 
Itao 37 
J4 27 

32 IS 

IB «* 
15ft 1514 
II* 11* 
12ft 72 
Tin Mb 
SB 5H> 
20 * 
... Ift 
Wft 26* 
‘ 12ft 
Jib 4* 
* M 
14* 12* 
10ft 9* 
24ft 24* 
41* 47ft 
M* 13ft 
f* Sft 

% ff“ 

ms n* 

15* 15* 
13* Uft 
19 IB* 

A A 

Mlb lfft 
44* 431b 
711b 2) 
Uft U* 

raft TO 
aft 5ft 
7ft 7ft 
43* 43ft 
31 30* 

6ft 6ft 
15 14ft 
12* lift 

32ft 22ft 
5 4ft 
7* 7ft 
15ft 151b 
Bib 7ft 
7ft 7 
»b 2ft 
2* 2ft 
SO* 20ft 
Bft fft 
Mb Bft 
12* 72ft 
22 »* 

30* S* 

3Slb 38* 

Sft 11* 

** im» 
1% & 

Mb + ft 


72ft + * 
7tt + lb 
5ft— * 

Uft + lb 

fft— ft 


1Mb— ft 



9 + ft 

12* -1ft 

10ft— ft 


4|ft_ ft 
14ft + ft 
9* + ft 
15* + ft 
3»— ft 

13ft— ft 
72 —ft 
23 —ft 
lift— ft 
ift— ft 

» -ft 
is*— * 

is* + ft 

if + * 
Bft + ft 


21lb— ft 
lfft— ft 
43V) — ft 
21ft + ft 
Uft + ft 
74 + ft 



43* + ft 

6* + ft 

15 + lb 

72* + * 
32* + 1b 
ift— ft 
71b— ft 

7ft— ft 
7* + * 
3 —ft 
21b— * 
20* + ft 
Mb + ft 
Mb + ft 



38*— ft 



? 1 +* 
I —ft 
7 +ft 
13*— ft 

HHtoLw Stock 

Sakata NO 

Dtv. Ytd. WQs High Lnr 3 PJb CnVa 

JO 52 

M A 


30a I A 

S3 30 
140 51 
.10 L5 
140 X6 


.15t> 12 

72 3j0 

74 XI 



23to II* MacVOI 
21ft 11* Slllcnx 
12ft 4* SUtac 
17* im Strap to 
15ft 'tab Stout n a 
17ft 0 Stators 
12ft 0 Skipper 
Ift 2* SmitM- 
54 2fft Society U4 
79* trs SectySv 
211b fft SottwA 
28V. 10* SonocPs 
27 v> Uft SonrFd 30 

xSS 2 ^ SSK 

30* 16* Soutret 
Mb Sft Sovran 
47ft son Sovran 
lfft aft speedy 

16* 12ft Spire 
mt 4* StarSra 
9* 5 SkxtBkt 30 3A 

30 if* Stondva U* U 
2SM lilt StdMtC .. 

27 19 StonitoS 13D 54 

60ft 30* 5 to SIB 130 U 
61b Ift StetaG 
7* 41b Slatoor 
T7VV ** StawStv 
24ft 16* Shwlnf 

aft 5 sum 
law 7* Stratus 
301b 24* Streets 
34* 19ft Stryker 
154 04* Subaru 

69 34 Stterfi 

Sft 21b Suipma 
Mft 6* SumtHI 
3* * SunCst 

1 0B 7ft SupSky 
4ft 3 Suprtex 
Sft * Sylce* 

U 6 SymbT 
4* TVb Syncnr 
u* 6V. Srntocfi 
4 3* Svntm 

10 lift Svtcon 
26ft uft SVAtaC 

11* 6ft Svalide 

11 6ft SyatGn 

2Slb 12 Svatmt 
2Sft Uft TCAQ) 

7ft 4* TocVhra 
20* 13 Tomtom 
12V> 4 Tofldon 

*ft 5* TcCom 
22 11 Tales 

338s 17* TJcmA 
12* 0ft TalPlua 
251b 13ft Tatecrd 
2BB 13 Tetoptat 
6* 2 TelvW 
21 13 Taiobs 

17ft ift Tetxona 
12* 4ft TarmDt I 
75* 7* Thar Pi- 
TT* 6 Threat* 

48 24 ThrdNt UB 27 

Uft ift Thorite 

29ft 12* ThouTr 

16ft 7* TlnwEn 

M 4B ‘StES? 

17* 0 Totua 

31 lift TattSya 
J7B 70 TrafcAu 
72ft 6U. TrtedSy 
30ft 22* TrualO 
23* IS* USUCa 
211b 5 Uttrsy 
23ft Wft Unpran 
11* 7* Unffl 
Sft Mft UnPIntr U09t 4J 
Wt lift UnTrBc X40 13 

25* lift UACmt M J 
lift 7 UBAMt 
a 17* UBCoi 
11 5* UFnGrp 

22ft 11* UFjtFd 
17* 5* OGrdn 

7ft upraad 
2* US Ant 

16* US Bcp 100 33 

1ft US Cop 



.10 3 


04 3 

.12 J 


*4* ... _ 

Sft Sft USShM 
27ft 10* USSur 
37ft 25U US Tr* 

2t* 17ft USkrfn 
24ft 14* UnTalev 
4Mb a* UVoBa 1j 64 Xb 
72 lift UnvFra 
201b *B UnvHR 
U Sft UFSBfc 

% SEI&S' juw 

ft «vu 
17ft 7ft VLSI 
12* 4* VMX 
11* 6ft V5e .16* 1 J 
20* 7 Valid LO 
2BVb 71b ValFSL 
42ft 22ft VoiNTI 1 JO if 
40 22lb VolLn 40 1J 
15ft ift Varanti 
ift 2* Ventre* 

20* I3ft VI corp Ote A 

15ft Bft VtedeFr 32s XI 
lift fft Viking 
20ft 72 Virotok 
12ft 6* Vodovl 
22 14ft Vottlnf 

25ft Mft WD 40 .96 U 

U* fftWoibC* J4 U 
U* 4* WBuTW 
2Sft 14 WHlE Ui 73 
26ft 10ft WFSLS M ZA 
lift Ift WM5B 
S* Wave* 

B* Wabbi 40 12 
6 WestFn 
Sft WstFSL 
5* WMlcTe 










" Wmort 

M 21 

15ft WraorC 40 2J 
„ 4* WstwCs 

Mft JfftHWtro 
6* IftWlcat 
Uft 4* Wldcom 
4bft 25ft wnimt 
15* 7* MflIIAL 
17* 8* WmsSn 
10* 6*W1tanF 
•ft 4* WMITH- J7 1J 
8V5 2ft wimBn 
24ft 16* wtifro 
21* 72* weadhd 

2Wb 18* Wortho 

31ft 21* Wyman 
U 2* Xabac 
MH 5ft Xta- 
lift 70ft XMex 















t 1040 


ja li ms 
























































































A0 18 
JO 15 
Me 3 

.1 Sr 16 
1JB 18 


U5 V 

JO 14 

M £ 

JO 10 

)6* 76 left 
20* 20ft 2Mb— ft 

.3 $ iSUS 
iff iFii&JS 
SS 5 * 

un S* 

» l-i* ~ 

H to M 
471b 4b* 47 — * 
IB* U IS* + * 
34* 24 U. MM 
7ft 7* 7* 
un 141b 141b— ft 

isn 15ft 15Vb + Vb 
231b 221i 22ft— * 
641b 64 Mft— ft 
4* 4* 4« 

«ft 4ft 4Vi + ft 
14* 14* 14* 

25 34ft 24ft 
6* 6* 4*— ft 
Uft 15* 16 + ft 
as* MV. 3SJb — ft 
34* 33* 34 ft + ft 
755V) 154* 155ft + * 
if 46* 48 + B 
3ft 3 3 

13ft 13ft 13* „ 

1* lft lft + VI 
f * f + * 
3* 3ft 3* + ft 
* * *— ft 

11* lift II* + * 

4ft 4 4 — ft 

II 11 It 
Sft Ift 7*— ft 
lift 77* 17*— ft 
22ft 22 22 — ft 

11 10* 10* 

Mft 23* 23*— * 
11 1«* 10* 

23ft 23ft 23ft 
5* 5* 5*— ft 
11 17* J7* + ft 

fft 4* 49. 
fft fft fft 
15ft 741b 15ft + * 
33* 33* 33* + lb 
10 nt * * 

18 171b H + ft 

27ft 27 27 — ft 

2ft 2* 2*— ft 
Uft 1«* 14*— ft 
lift 16 lift + ft 
4* 4* 4*— ft 
10ft 10ft 10ft — ft 
15* 15* I«* — ft 
a 47ft 47ft 
7* 7V> 7ft— ft 

u o 


un lew lift— ft 
3in 29 lift +ZW 
17 lift 12 
fft Ift f + * 
27ft 27 27 + IS. 

231b 22* 23ft 
Bft Mb Mb . 
14* Uft 14ft +1ft 

ID* 10* 10* 

27* — 

105, 1 


9W 9* ** 

28ft 27* 2Mb + * 
I* Ift Mb 
18ft 17* 17*— U 
12* II* 11* 

12* 12* 12* „ 
3W 3ft 3W + ft 
31 30ft 30ft— * 
3* J* 3* 

2ft 2* 2* + ft 
32ft 33 32 — ft 

«* 4* Ift + ft 

lfft WK MW + ft 

37 37 37 + ft 

22 20* 21ft— ft 
23* 23* 23* 

44ft 45* 45*— * 
21 19* 19*— 1 

If* lift lfft + ft 
lift 11* 11*— ft 
Ift 4 4 — ft 

Sft 5* 5ft+ n 
7ft 7 7ft+* 

Uft 13 13ft + ft 
6ft 6ft 6*— ft 
0 I* 9 + Ui 

9 8* 8*— ft 

17ft 17ft 17ft 
42ft 41ft Mft 

23 23, B 

Ift lft Ift 

Mi 3ft 3* + ft 
25 24* 2S 

iovj iov» mu, — * 
lift lift lift 
17ft 17ft 17ft 
Wft Ullb 10* + W 
16ft 16 16ft + ft 
20ft lfft lfft- ft 

14 Uft 13ft 

Ift 7ft Jft + * 
23ft 22* a*—* 
25 24* 24ft 

Uft Uft 14W— ft 
.ift bft «* 

Uft 12ft Uft- ft 
Uft Uft Uft— ft 
17* lift 17* + * 
f* I a 
Uft 12ft Uft— ft 
Uft 17 17ft + ft 



?4 m TSt 

1« lift 16* + | 
»b 5ft 5ft 

a? S£ + 5 

27 25* 27 +1U, 

3* S 

Uft 13* Uft + * 

C 27ft + Ui 
104ft— ft 
33H— ft 

43ft 23* YlPwFt 100 23 BCD 

tan eft zenLha M 

UB 9ft Ztoetor JSo 40 10 

31* 29 ZlanUI 1J6 X5. 27 
8 2ft Zttel — el 

12* 3* ziyod . 45 

16* 6ft ZonOvti JM 3 1242 

43ft 43ft 43ft 

3 3*3 +l * 

i§b wS w£ + * 



Page 18 




$ A pal of Curly 
9 Reasoning 
power . 
15 Word in a 
Maugham title 

18 Namesakes of 
a wife of Esau 

19 He wrote 
“Steps in 

21 Jinni 
23 “Man on the 

25 Most chary 
28 Rampant fear 

27 “Stolen 
t Hours" 

23 Silkworm 
38 Apple dish 

31 Erie- to- Buffalo 

32 European yard 

33 Wading birds 
38 Two shakes 

37 Kind of shrew 

38 Col., e.g. 

39 Determination 

40 Kind of dough 
or ball 

42 Common 

45 Game-stopping 



1 Footway 

2 “An apple 

3 Mmeoand 

4 “The Secret 

5 Proclaim 

6 Rackets, rulers 


8 Between zeta 
and theta 

9 Willow twig 

10 Dies 

11 “Scarf up the 


48 Touched down 

49 “A Loss of 

53 Lon’s follower 

54 Flash of light 

56 Have a real 
crush on 

57 Bursrynor 

58 Trevi number 

59 Fate 

61 Represent 

63 True grit 

64 Bad actor 

65 Advice to a 

71 Herzog is one 

73 Onassis 


74 Jack from 
Miami, Ariz. 

76 Concert hall 

78 Bouncer's cry 

79 In back of 

50 "The 



82 Insect: Comb, 

84 Gypsy or 

88 To boot 
© “Breaking 

92 Chibchan 

93 Ginseng or 


12 Ship’s bow 

13 Sharp sound 

14 Male seals’ 

15 “Fugitive 

16 Schedule, in 

17 Word of 

20 Tall story 

22 What Forman 
and Huston do 

24 State north of 

28 Most desirable 
of goals 


95 "Father of 

90 Set’s cousin 
97 Theater Sign 

100 Nabokov 

101 Chemical 

102 One of the Four 

104 Composer Jule 

106 About 14 
gallons in 

107 No and J 
1© Political 

1© “Fallen 

112 School' 


116 Rival 

117 “Lost 

119 Diplomatic 
cooling off 

120 Add dye 

121 She started 
with Stiller 

122 Busker's word 

123 Mild British 

124 Greek letters 

125 Ndmero 

126 Miles., in 


30 Outdoor 

33 Hook’s booty 

34 Money holder 

35 U.S. Open 
tennis victor 
over Arthur: 

36 Fashion fabric 

37 Shade tree 
41 Old English 


43 Town in Kenya 

44 Nevertheless 

46 Lesson ofa 

47 Resin used in 
making ink 

Title Transfers by tap osborn 

M 12 |3 |4 

15 no hi 

M2 M3 114 

Ms Me |i7 


' \5 -UNT1ER. ^ 



[33 134 [35 

159 I 150 

165 [66 167 

ran I as IBS 187 

I T 13 11141115] 


Paw.' zero's I , 

COMING hi owe / be ©REATTD I 
ON LEAVE/ 7 seethe little I 


® New York Tones, edited by Eugene Moleika. 


By David Thomson. 274 pages. $16.95. 

Alfred A. Knopf, 201 East 40th Street, New 
York, N. Y. 10022. 

Reviewed by Kenneth Turan 

M OVIES are fragments, glimpses, incomplete 
looks into imagined lives. Movie characters 
have nonexistent pasts and hazy futures; what we 
see, as Jimmy Stewart once drawled to Peter Bog- 
danovich, are “little, tiny pieces of time.” But what 
about those pasts and futures? What happens be- 
fore the house lights go down and after they've gone 
up? Did Judy Rogers and Jim Stark live lumpily 
ever after, after “Rebel Without a Cause"? where 
did fate take Caspar Gutman and Joel Cairo in their 
search for “The Maltese Falcon"? What kind of 
parents raised “Taxi Driver’s" Travis Bickle? Is 
there some kind of shadow world where these peo- 


50 Muse of mime 

51 C. LA. tool 

S8 Utah-Ariz. 

70 Central issues 

72 “Escape by 

75 Error 

77 Partof M.T.M. 

81 Spar with 

83 Year in Pope 
Clement VIII’s 

85 Fashion word 



52 Gridiron 

55 Actress Jeanne 


90 Library 

91 Big and 
cl umsy 

60 Signs of spring 94 Gentle sound 

©Course 59 Change a 

65 Moslem’s 


second month , Q1 A of C aleb E 

66 Vallee college iq4 Revokes a 113 Baa 

town 103 3 114 Brain orific 

1M Coasters USMErmah* 

S 105 Volumes v*® 

86 Lebanon’s — 166 Caliph’s cousin 118 Annamese 

Gemayel 167 Rosaceous measure of 

87 Palm fruit plant length 


1© Texas pro 

110 Kroger or 

111 Gas: Comb, 

112 South Yemen’s 

113 Baa 

114 Brain orifice 

115 Affirmative 

which winds up on the screen? Wouldn’t n be a kick 
to fill in the blanks, to really know what we only 

In “Suspects,” his first novel David Thomson, a 
Him critic and journalist best known for his eclectic, 


provocative “Biographical Dictionary of Film." has 
put together what seems like a simple biographical 
dictionary of fictional film folk. Eignty-five individ- 
uals are included, characters appearing in 56 mov- 
ies, almost all of them of the film noir variety, such 
as “Chinatown,” “Double Indemnity," “Sunset 
Boulevard” and “Strangers on a Train." But these 
bios are not straight and narrow affairs; the y are the 
creation of a mysterious, secretive narrator, a hid- 
den (until the end) presence with a dark story to tell, 
a story whose fearful pattern only gradually be- 
comes clear. 

Writing in mare, almost existential prose, Thom- 
son is so much in tune with these classics that he 
does a dead-on job of imagining, almost reinvent- 
ing, his characters' lives, intricately cross-pollinat- 
ing them with each other and with real-world types 
as well It is eminently fitting, for instance, that 
“White Heat's” Ma Jarrett once worked for Buffalo 
Bill, that “Laura’s" effete Waldo Lydecker read 
aloud to Henry James as a youth, that the “Sunset 
Boulevard” mansion was bought for Norma Des- 

Solution to Last Week’s Puzzle 

nncina aaaaa anaaa 
□□□□□□ Banna 
□□□nnanaaann □□Eiaaaa 
aoa DDaao auciaan □□□□ 
□□□□ uaaan □□□□□ □□□□ 
□□□□□ □□□□□ aaa edlJBE 
□□□□□b aaBoaaa annaan 
□due □□□□ aaoa 
□□□□□□□□□□a □□□□□□□□ 
annua aaa □□aunaa quo 
unaa □□□□□ uaauu annul 
□□□ □□□□□□□ □□□ aanaD 
□□□□□□□a □□□□□□□EBBD 

ohdq naan □□□□ 
ananaa □□□□□□□ aoaaan 
□aaau aaa aaana naaon 
□ncia Goaoa naaan □□□□ 
aaaa □□□□□□ aaaaa □□□ 
□nnaaoa aaaaaaaanaaa 
ananan aaoaa uacaaQ 
aanoa aaona □□□□□ 

mond by “Chinatown’s” Noah Cross and that she 
had a son who turned out to be Julian Kaye of 
“American Gigolo." 

Thomson also enjoys occasionally postulating 
that these characters aided their lives in different 
movies from the ones in which they began — that 
the Amy Jolly whom Marlene Dietrich played in 
“Morocco" is the same woman as the Tanya she 
portrayed in “Touch of Evil" or, even more cora- 

E lexly, that the Ava Gardner's Kitty Collins of “The 
tillers" aged into the Grace Devlin that Burt Lan- 
caster’s Lou Guarini lived with in “Atlantic Gty." 
It’s enough to make the bead spin. 

Since so much of “Suspect s" considerable en- 
joyability steins from familiarity with the characters 
— from an ability to see these people in the mind's 
eye — it follows that the more of these films the 
reader has seen, the easier it is to get the book’s 
sometimes obscure references and the more one can 
enjoy what Thomson does with the protagonists. 

Sometimes Thomson gets loo clever for his own 
good — for instance, having Raymond Chandler in 
“The Long Goodbye" run into “a drunk named 
Fimiin" in Mexico. And his tendency, as a member 
in good standing of the San Francisco media elite, to 
sprinkle the book with the names of fellow luminar- 
ies, such as Diane Johnson, Tom Luddy and Herb 
Caen (spelled Kane), wears a bit 
Thomson has undeniably pulled off an en g ag ing 
tour de force in “^suspects,” truly believing, as his 
narrator says near the dose, that “the screen is like a 
map for our dreams on which we may always travel 
without ticket, tiredness or pain. It is our greatest 
frontier, like a magic mirror. Yet it is equally true 
that one puts the book down a trifle disappointed. 


\fepLl BOY TYB • 


1-to ' 




WORK - .r- 



It’s not that Thomson hasn't accomplished what he 
set out to. that his puzzle isn’t degant enough, but 
rather that it reminds us that what makes literary 
and cinematic fiction memorable is what happens in 
that tiny piece of lime that's placed in front of us. 
“Suspects." set almost entirely on cither side of that 
golden moment, is finally too peripheral and unin- 
volved to matter as much as we would like it to. 

Kenneth Turan, film critic for California magazine 
and the National Public Radio program “ AU Things 
Considered, ” wrote this review for The Washington 





. .... — • • 


ii rep •./ 


W)rid Slock Markets 

VUsAgence France-Presse July 19 

Closing prices in local currencies unless othertme indicated. 























































Brio fade 






Kaw Dattt) 























































Casta Del Sol 





























































Las Pal mot 























Mould! • 







Zorich 26 T9 


Ankara 24 75 

Beirut — — 

Damascus 34 93 

Jerusalem a 79 

TWAvtv a 62 


Auckland 17 43 

Svdnev 15 SP 

21 a d 

U 55 o 

17 43 d 

22 72 tr 

14 57 r 

14 57 d 

15 59 d 

5 41 cl 

21 70 d 

U 57 o 

>4 4« fr 

21 70 »r 

17 63 fr 

13 55 d 

17 63 fr 

7 45 fr 

— — no 

17 «3 fr 

19 U fr 

21 7D fr 

11 52 fr 

10 50 fr 


BoanoiAlret 19 66 11 52 o 

Corneas 27 81 20 41 d 

Uma II 44 15 W o 

Mexico CRY 25 77 10 SO Cl 

RIO dt Janeiro 23 73 18 M fr 


13 55 d 

22 72 fr 
17 63 PC 

20 48 PC 

14 57 Cl 

16 64 Bt 

23 73 fr 

12 54 st 

21 70 PC 
19 46 tt 

19 66 PC 
11 52 d 
23 73 oc 

20 41 Ir 

13 55 M 
Ii 57 fr 




m A ngels* 


Mlaaoa po ll s 

M o af roul 


New York 





cl'Ciaudv; Io;tooo»i fr-falr; h-hall: na-not available* o-cv*rcasT; 

swenow; sl-eformv. 

AEG-T olefimten I28A0 12« I 1C7ZI7 

AlllerttVors 1400 1353 I Prarteus : 147U4 

Altana 354J0 357’ 

BASF 22120 22050 

Haver 22150 220J0 

Bar Hvoo Bcmk 073 345 

Bov Vcrdnsbank 413 *02 

BBC Zll JO 23270 

BHF-Bank 337 334 

BMW *Q9 40? 

Commontank 226 221 JO 

Cant Gununi 146J0 M7 

DafanletwBwa 849 JO 842 

oeoussa 361 364 

Dovischo Babcock 157 157 

Deutscna Bank S80 5OJ0 

Drosdnor Bank 2MS0 281 

GHH 16488 161 

Hurooner 302 3QIU0 

Hochttef 605 575 

-3 Victory Over Royals 

Uitttaifresi International 

right move with a ooe-nrn lead af- " 

the Indians (his season to 


^raekiwl.a potentbl'fitb-iniiing fi^?fteyH y farifay butwcwanttQ dirpcbitsaodtwo'RBlyfaf flttRcd 
^dtywilh a good dirfenrive play to win and need to win. Everything Sw in Boston Tbe Red &»i scored 
betocanythfi Britimbre Quotes to wodwd oul" eight racs in the th ird ha ting as 

^Ijwto^oyer the Kansas Qty Murray fined a twp-nm dooWe Bom* Hurst won his foftrth straight 

Iti^ierclSiiisdayTi^hu in thefitst Frank Whfetoffied for game. /■ 

V' Baltimore leads the major league the Royals with ah RBI single. Jft 6, Bine Jays4: Alfredo Gin* 

Votin g hit hig nrinli hnqnw fn the- fin tripled hontt Mikc M^ayis to 

i nomniTP fourth, and Ripken hit his 16th highli^U a tinte-ruttianfli feting 

KAJEJIAIjL ftinJitlUJl' homer in the fifth for a 4-1 lead, that gave the A’s a may uiTo- 

homm. Rnr ft m* Hal McRae sniped an War-16 ■ jpuatft. Steve Ottfivoos jpitefaed 2% 
^^Sfcnsiye play that sswed streak against ^te^tdimgwth KBckiDowng one hi 

folk (cam£m5 b08 homes. But it was 
iNm j*^yS : defeasive play that saved **” 
V\> (be Opofen Thursday. V 

l\v , to the plate with ^ 

» !Tfe 


tn rtw ninte with 'Hie homer, his sixth, came Raneen 3, Tfeert Jz George 
StS White aboard and drew Kao- W^rtwto&*RBfca 
^^^Xieoree Rrett/“I was sas City to 4-3. Grass added a gametinie,bnedatw«otsiMlelo 
i . bases-enrotv homer in the sixth in- cen ter to can a two-run seventh and 



{3n* W As soon as I made mag, his ninth. The Orioles scored Wt I^eomDettoit.aiaJe 
Sntnct Ithought it was 4-3 us, but £*“ rons rnthe eighth onphu*- Hw*h h^Detrou *Q »**“* 
S^^SmIknewitwasSl3- *““» *>» 5 ^s t**™ smgfe through sevm mnmgs and struck 
j ir ■ and Lac/s RBI angle. out seven. 

; ' W&mcay ^ovcd a onohop Hncr, Twins 8, Yankees* Kent Hitek 
turned it into a fira-to-shoratop- hit a wand dam home ion and 
to-first dqpbteplay that eadedthe Kirby Puckett went 3-for-4 to lead 
S*- "M.™? made that play ^T^ h hfcme^ It m 

dipped in KKLTSefMk 
dtfcnsivdywirh three scorch in- Eufemia pitched three scoreless in- 

S^aS^ 5 ' s^asSSs 

‘nms m the seventh inning, scored six times m the first inning. Hew York, indcS dghtoroo. 

Graham and Lyle Share Lead 
After 2 Rounds of British Golf 

Untied Pros founwonal rounds. Eamoon 

SANDWICH, England — Da- 144, Bernhard U 
vid Graham and Sandy Lyle, a pair Paul Oglesby 69-1 

ICH, England 
i and Sandy Lyl 

Darn ] 
lger 69- 

had 68- and runner-up to Ballesteros in last 
■141 and year’s British Open, sank birdie 
puns of 25 and 12 feet on the 14th 

of familiar names on a leader board Graham, a U.S. Open and PGA and 15ihholesfora69that lefthint 

dotted with unknowns, each shot champion who has been playing tied at 141 with Peter Senior (71), 
one-over-par 71 Friday to share the poorly of late, sank a 14-foot birdie Wayne Riley (70), Robert Lee (73% 
lead after two rounds of the British putt on the 16th hole, then saved Howard Clark (71), lan Woosnam 
Open. They have a one-shot edge par with a 20-foot putt on No. 18 to (71) and Emilio Rodriguez (70). 
over a tightly bunched Grid. complete 36 holes at one-under Mark O'Meara, following a 72, 
On a wet, windy day when the 139. Lyle, a Scotsman who shot 65 was another stroke back, and 
dements played more of an effect in the second round of this year’s amongthose at 143 was Greg Nor- 
thttn any gou club. Jack Nicklaus Master?, double bogeyed the opes- man (72V 
shot 75 to miss the 36-hole cut for mg hole and bogeyed the third be- The early starters in the field of 
the first ti ftt* in 24 years at the fore settling down with three bird- 153 had the worst of the weather, 
British Open. The defending chain- tes from the sixth through ninth, and among those affected were 

■ n_,i _i : r—i n'r - r_ p~ii j mmi,.., ,h4 

round with four successive bo- his rec 
s, bardy survived the cut at 149 of 64, i 
owine a 74. the frq 

: back with six bogeys on 

following a 74. the front side Friday and soared to had six bogeys on his final i l holes. 

Nicklaus, at 12-over-par 152 for a76, which still left him in a tie for But he situ left hope for a third 
two rounds, now has faced to sur- third place at 140 with DA. Weibr- Open crown, saying with tongue in 
vive the cut in his last two major ing, playing in his first British cheek, “IT its nice and calm tomor- 
louroamenis. atsp droDDina out of Open, and Tony Johnstone of 2m- row and 1 shoot 65 and a big than- 
icsavs babwe. derstonn comes tcanorrow after- 

tournaments, also dropping out of Open, and Tony Johnstone of £im- 
last month’s U^. Open, but he says babwe. 

he still has confidence in his game. Wei bring, winner of one tounia- 

Totn Watson, five times a British ment in tune years on the PGA 
Open champion, also bad his prob- Tour, birdied the 13th and 14th 

Wd bring, winner of one touroa- noon, Z think I hare a good 
ment in nine years on the PGA chance.” 

Open champion, also bad Ids prob- Tour, birdied tbe 13th and 14th There is no chance left for Nick- 
lems with an uninspired 73 that left holes for a round of 71, whfle John- laus, who said after finishing sec- 
hint at 145, six shots off the pace: stone bogeyed the final hole for a ond in Canada two weeks ago that 

“There has to come a time,*' Lyk 72 that cost him a share of the lead, he entered (he British Open with 
said, “there have to be new names “The wind was absolutely horriT- the goal “of turning things around 
coining through." ic for the first nine holes,” said and fooling a few people?* 

Conditions were so bad, partial- O'Connor, who added that he But he dislikes playing in the 
laxly early in the day, l 

and fooling a few people. 

But he dislikes playing in the 

^McGregor mid. “Ead made the Bums extended 


John Henry Is Hurl, May Be Retired 

i NEW YORK (NYT) —John Bemy, the richest race hone ever and t! 
most popular of his time, has developed a tendon injury that may for 
ins re tirem e n t, the 10-year-ald gelding’s trainer has dectared. 

New York, included eight errors. 
Backman increased hu hitting 
streak to 10 nines. 

Gouts 2, Gobs 0: Jeff Leonard 
doubled (^ rdkver George Frazier 
with one out is the ninth to score 
Chifi Dam from first base and lift 
the Giants in San Francisco. Mike 
Krukow struck out seven in pitch- 
ing hu first shutout. 

Severiano Ballesteros exanriritag the ball after finishing 
the second round of die British Ojpem at 149, nine over par. 

Talks to Resume Monday 
As Basebatt Strike Looms 

my early 
6,857-yara course at the Royal Sl 
G eorge’s Golf Club grudgingly 
conceded only three sun-par 

at the didn’t feel any pressure after lead- rain, which he had to contend with 

ing the Open overnight by four on both days, and he also had trou- 
shots. ble putting in the strong wind con- 

Langer, the Masters champion ditkms. 




‘ “If it is what I think it is, thm I would hare to say it’s the end," said 1 "4 £2 9*0* 

Ron McAnaUy, the trainer. “If iris thte end, Fin relieved it happened Bke hftthe Padr« m &m DiMp^Crmg 
th» instead ol him being hauled off the track." Lrfferts pitcted the finri two rn 

By Murray Chass 

New York Tima Serriet 
NEW YORK — Faced with an 

m instead ol him being hauled off the track." 
McAnaDy said that John Henry has a swdfiz 
cep flexor tendon of hisriaht knee. It can riot 

; filled with fluid in the 
e determined for abort 

in relief of Dare Dravecky. 
Sossaae survived two ninth- 

in- Aug. 6 strike deadline by players, 
Icy. baseball's labor negotiators hare 

baseball's labor negotiators have 
recessed talks for a new collective- 

John Henry was purchased seven years ago for $25,000 by Sam Rnbin, producednosn^tirediscussion 

Mm has ct^emedtLilnilk of thehorsris record S6JmQUon in earnings, at ht^ JeffReardon got the M onthepnmaxyiOT— theownere* 

Hollywood Park near Los Angdes. 

ra ' l^ainiKieilB^ Wins20tii Stage of Tour 

allowed the Expos only four hits, non and bendfit plan, 
but he was the victim or two passed “Wehadabrixrfiscnssionof the 

balh and a throwing error by catdi- salary and i 

er Alan Ashby. ciusion of the benefit 

PhBHes 6, Reds 3: Jerry Koos- Donald Fehr. the ol 

mwe uuums 

Davtd Oraham 

leader. He said the owners’ rqrre- Srwv L 5cenoor jr. 
serttatives offered no new ideas on ft*- 
the contribution matter, then add- 
ed, "They have asked to a day to Ian waomam 
do some internal work.” emuio nxiriguu 

Lee MadPhafl, head of the own- 
ere negotiating team, explained Howard dark 
that he an d his aides wanted time mot* omwo 
ro^wikonapprMdBs." . SSSalSSS 

^Vc re trying to find SOlutlWlS to Cardan Brand Jr. 
the problems," be said. iorn y oatma 

Wien the two sides meet again, 
there will he only 15 days before Bmaw oorev 

'•! LIMOGES, France (UPI) — Johan Lammerts of toe Panasonic team 
coastedacross the finirii fee with a broad grin Friday, winning the 20th 

the players ay 
they have no agi 

S bCtore En m onn Dorcv 

strike if 

dander- lan Bmwr^iodi 
eneeoti- uatm mma 

fax-5 with two RBls to lead. the 
PUDies in Philadelphia. Koosman 

~ — . mt imrn i uw miu a uiuou mu i umiy, w iuim ift u* mmi - : 1 gjL L ,, 4 

yv . f ^. T ”r * bicydc race by 21 xcouds ovtr Kim 

4 . *•-' ■“ w* «SBI Lammerts covered the hmy 225 kilometers (139 nrikslfrom Montoon 

toLinwgesin5hlours,52nimates, }0 seconds. BeatanLmnaalt of 
#i T V.EN . *k. : t : A • S #. paire retained the leader’s ydlow jersey but conceded 16 bonus seconds 
# -h7-l ■>: ^ Afflerkax, teammate. Greg &on4 second. ov«aIL Stephen 

” — — ' Vn4u> // »lv ffMlnrt* (Mm tKml AUFfull nitnnl nn tnM nh ffirMnll lO o-J I With IB&cigUQl StnkigDt lOSS. 

tofLaVk struck out four and wafisd none. 

5 error by catch- nrinimum salary and a briefer dis- they have no agreement Consider- Ion Bo*«rHFIncl 
of the batefit plan,” said ii^ the extensive ground thenegoti- ww mme 
3: Jerry Koos- Donald Fehr, the players' labor *tos have to cover, that does not 

seem like much time. The two sides potw jaaomn 

— ’ have been meeting for eight months pnvn* stnart 

Economist Pats mmt that expired Dec. 31. .TMUacia. 

However, when asked about the Ftnw zortiw 

Roche of the Redoute team, third overall, Weed no time cm KmauU. 

' Tbe 2 1st stag? jSamrday isj 45.7^cvrieto' indmdpal time trial around . . . 1: L ™ 

t: LenMa- 

.-V Bills Obtain Ferragamo From Rams 

- iy~. jj BUFFALO, New Y<nk (AF) — The Buffalo KBs hare acqfe 

fCr § I quarterback Vince Ferragamo from the Los Angptes Rams in a Natoi 
^TljP # f Football League trade to trefat end Tony Hunter. The Bills wffl a 
* — nkf^rtiARn imtticrlnJuYf dmft riuiice as nflTt of ThmsdflV*S trade, vlncti l 

kni n rinser allowed six fets over seven 

luk Obtam rerrasamo Irom Kams .fe^ifeSLD^sta^jM- 

BUFFALa New York (AF) — The Buffalo KBs hare acqmred q^tohgai; left m the sixth with 

larterback Vince Ferraganm from the Los Angeles Rams in a National * 

xithall Lq®te trade for tMbt end Tony Hunter. The Bills wffl also ■ Beds Acqrare Baddy Bdl 
ceiremmifisdc^ draft cfcce as part ci Thursday's trade, which the The Cincinnati Reds announced 

-o dubs have been considering for months. . Friday that they have acquired the 

Fexragamo, 31, holds the'Rams' record to most passing yards m a third basanan Buddy Bell from the 

Football League trade to ttefat end Tony Hunter. The Bills wffl also 
receive an undisdoted draft choice as part of^ Thursday's trade, which the 
two dubs hare been considering to months. . 

Fexragamo, 31, holds tbe'Rams’ record for most passing yards m a 

iJct A F£ v- '-Jr. season, 3^775; most cooqtletions, 274; most attempts, 464; and most Texas Rangers for outfielder 

4 rwL •r , j £ ".’t wT. itffilti toudidowns, 30. .He led the Rams to a berth m the 1980 Soper Bond Duane Walker and a player to be 

f -— i r r"Tir75fe<*S ainst “nd passed for 9,376 yards in his seven-year career named later, United Press Intexna- 

V f tko Ram** . , , . tianal reported from CSn a nnati . 

jii' v ■ Hunter, 25, is a fcamer Notre Dame AB- America who was tbe 12th Bdl, who agreed to terms with - 

I ",■■■/' *^L' V jiwf player taken in the NFL draft after his scuto year. Hchad69rocepbons the Reds through the 1988 season, 

ifi.. oitfS. nt two years with the Bills. had requested a trade from Toas 

. Hunter, 25, is a fanner Notre Dame AB- America ^to was tbe 12th Bdl, who agreed to terms with - 
player t aken in the NFL draft after his senior year. He had 69 receptions the Reds through tbe 1988 season, 
fa two years with the Bffls. had requested a trade from Texas 

• after the Rangers reportedly failed 

rnr IVIA KMVml to renegotiate his contract He is a 

aw uic 1 UXUUI native of Cmdmati and had said 

The Denver Nuggets have announced the signing of their No. 1 draft that he wanted to play for the Reds, 
choice, the center Blair Rasmussen, who said he locked forward to the Bdl is hitring J36 with four 
morepbysical brand of play in tbcNational BadcetbaB Association. (Af) home runs and 32 RBIs. Walker, in 
' 1 Pw l.-^^reu, a forward for the Minnesota North Stars, has officially bh JWtyearwilh the Reds’ oorgani- 
retired from tfe National Hockey League team after faffing to pass a zation, has a .167 batting average, 
physical, rise dob said. (AP) with two home runs and six RBls, 

with two home runs and six 

Tigers’ Profits 
At $7 Million 

*" ~^Ihe Associated Press 

NEW YORK— The Worid 
Series dtanfeon Detroit Tigen 
earned $7 nallioc last year, sec- 
ond only to tbe Los Angeles 
Dodgers among major League 

baseball clqbs, according to the 
report by Roger NoB, asi econo- 
mist lured by the pLayexs' 

NoU, of Stanford Univeisity, 
was hired by the Major League 
Players Association to study the 

finances of professional base- 
ball chibs. He issued a 47-page 
report challenging the ownen' 
claims that they lost more than 
$40 mffliou last year. - • 

NoB described the business 
operations and field efforts of 
the Tjgers as "one of the best 
managed in baseball" He said 
other profit leaders last year 
were the San Diego Padres, Bal- 
timore Orioles, Boston Red 
Sox, Kansas Qty Royals and 
Si. Louis Cardinals. 

pr es sur e the strike deadline might ^on^nd 
place on the negotiators, MacPhail Tom wunon 
said, “In out minds, it doesn’t ^ Fo l * ii 
change the pressure on us. You 
■have a date; you want to avoid a kiMoi mo* 
strike and you're conscious of that B ? ll .! l glT r . 
date. But we're always been ready SauTwotsan 
to bargain as soon as they finished miomwi couhi 
their analysis of our financial infor- J^J^formrami 
matron. Bob owih 

At Thursday’s session, the play- Ru “* u 
ere gave the ownere the report on SJwi*wS2p 
chat financial information submit- oavu rov 
ted to them by Roger NoB, an eco- 
nomics professor at Stanford Uni- Momoat 
vereity. MacPhail said they had not Rononv 
had time to absorb the 47-page 
report, but he took issue with some jaanwona cantzam 
points of the analysis. jottror pvuwnt 

MacPhail and Fehr also were ow«« 
asked about the role Commissioner cn>»» mkmt 
P eter Udxxroth might day in the 

* vausnao Sonwri 

lalK5 - MaBbiw JHonrtl 

“What the oommisrioner does is worMn Pamn 
up to him," MacPhail said. “Pve 
got a job to da The Player Rda- sum Martin 
nons Committee has a job to da" 

Fehr said that if the dubs “de- hubh bomcm 
dded to have him act on their be- gy wnyni 
half, well treat him as we would 
any of their representatives." eos* pouand 

Tdttv Oiom lev 
Lea Trevino 
Hurt BaJaccM 
Dm Smvrti 

Paul tnomot 
Boy Carrasco 

ta-n—O/ Manual BaliMtarai 
40-71—139 4m BalMva 
Mfl-VD Orrt* Moody 
«M1— MO Cary Ptaw 
U-73— »0 Mark jamas 
77-70—141 Kttua Aral 
70-71— Ml Bernhard Lanatr 

71.70- 1(1 Bill McCall 
70-71 — M7 Donh Ournlaa 
ru/t— ut Bob Bynum 
70-71—141 Mark McMuHv 
70-73— HZ WUOdv BtoCMwiTr 
7V73-US M.B. Ingham 
49-74— U3 Curls Platt* 

(074— M3 Mark McOombar 
73-73—1(4 Pater Dohlbara 
(070—144 CMm RaMi 

73- 73 — 1«< Derrick Cooper 
7440-Mi Simon Hobday 
7173 — 144 lan Mouv 
7074—144 Carl Mason 
77-73—144 John Bland 

7173— 144 Mall Colas 
70-74—744 Mktnol Clayton 

74- 40—745 Peter Harrison 

7174— 145 Steven a Pa 
7070—745 Nick Price 

74.71— 145 Jack Nicklaus 
7471 — 145 Joml* Hawaii 
74-77—145 KrWar Khwll 
49-74—745 Tommy Horton 
70-75—145 SftMsofcu Maada 
73-72—145 Tatoo Orakl 
73-73—745 RkA Hartmann 

73- 73—144 

7VM— 744 — ■— 

74- 73-144 


72-74—144 _ _ _ 

75-74 — 141 

73- 74—749 A m eri ca n Lea s ee 

74- 75—149 CALIFORNIA— Placed Darn soman. 

75- 74—149 (mi b ei emoa. an the 7S-dav tksabHN IhL 

73-77—149 col led m> ftuflna Unom. outfUHar. tram 
72.77—149 e am o ma w M me Poclflc Coast Lsoow. 
TV-70— MV CHICAGO P l a c od flab JomoL anchor, on 

71- 70—749 me U-aov tumbled ftgr.retraacrtv (a July U. 
73-74—149 Collad up BUI Lang. pHchor. from Buffalo ol 
4M0— 749 the American IVmod at ion. 

75-75— 150 TORONTO— Announced Kiel Ron SMP- 

72- 78 150 hard, outfloldar, has bean deslsnaiod tor av 

sto nment Pivchasad lh» contract a( Cecil 
Ftoktor, ftrs» baaaman. from Knouvflle of ms 

73- 77—150 southern Lemma. 

74- 74—150 

ycTCelfll mmmmsn u o fP t 

JiTillffl LOS ANGELES— Placod RJL Rwnoldc, 
outflaldar. on the 15-day dholiiad (l*t. Act l«d- 
7 M 5-750 ** Mka MatWioU. ouHWder. from KM dla- 

72- 78 — 150 ob *^ U * L 

73- 77—150 FOOTBALL 

75- 74—151 Motional Football Leoooo 

7321 — 151 DENVER— Sloaod Eric Rltoy, dofoashm 

73- 78—iST DENVER— Slanod Eric Mlay, dofooslvo 

75-74—151 back, la a aarles el om-yoor cooiraos. 
72-79—151 HOUSTON Stoned Jot krakaskl |ina- 
72-79—151 bockan Mike Gollc. mkk&a uuanL and WUlto 
7475—151 Drewerv. Mtoe receiver. AmxncM Ban 

74- 77—151 Mark Vontfortmar. uW ani l ya ll n am on . iwsde- 
77-75-152 ddodto go to low eehooL 

75- 77—132 KANSAS CITY— Stoned John Battle, COP- 

7474— 752 nerbock; Chris Jackson ond Harper LefieL 
7474—151 canters; Dave He f tonupva fl mw i ve Unaman, 
7577—B7 mid Joff Smilfs nawtag back. 

7477-151 MIAMI — Aorced to lerma with Gaarae LM- 

7477—153 Ha, Ualen o lea tackle. 

70-76—144 Baseball 

72- 74-14* 1 

73- 74—144 

Tlmrsday^s Major League line bcores 

70-74 — 144 

7474—744 Nam York 

OtS 03S M» 

Ooklond SM 118 783-4 7 1 

! SSJS^ .! 

7373— 1*4 VfWtioa Rasmussen C21. SMnov Ml.Bordl ^t T^ owsii 

7175-144 f4), Fuher (7) and Hassov; Smimsoa Buto* M m TnrBMWfy 

7374 — 147 mla(7londSotoi.lM— EufemtoJ-ftL—Bonffl, CW. ^HRo-Oofctond. DJilU Ol. Tomma «»■ 

73-74—147 »a HR— Mbmasota. Hmek CWI. ns om zil-d 12 a 

75-72— 147 Oowtond OWMOM-O 5 8 *“"*• !m m IOTI T 1 

73- 75— W Cbtooea 408 Ml fW-T* 14 I -J 

74- 73— 147 Rub to* Heaton ULCark m.Tbomwon to) o!hiS- 

7174-147 mtoBtmdo. wntard <9J: Burns and Fisk. Hill 

73-74—747 TO. W — Burra. 10A. L — Ruhte, 35. ,twnw 

7275 — 747 ColUorota IN DSI SOI — 1 7 1 ^ SlATIOttAL LEAGUE 

73- 74-747 Boston IV 888 1814-11 15 1 ^ 7 » 

75- 73-148 McCwkllL Sanchez Ol. Corbett 111 and JJJ S inlJ ■ | 

73.74-148 Boone. Millar U); Hurrt and Gedman. W- (uTmm, iaV«ui Do- 

74- 72-148 Hunt. 4-7. L— McCrukUL 54. IT 

7375 — 747 



Seattle 818 080 211— « 72 8 

Milwaukee S88 781 989-2 7 1 

Mooro and Ktomev. Doredn. Ladd (V> end 
Maon.w— Moore. 35 L— DarwhU-IO. HRs— 
Saama. Prealev 3 (90). Kearney (O.AAHaaw- 
keo. Yount (8). 


CMoage *88 *89 189-8 7 0 

Sob FTUPCbCO 988 188 997-4 > 0 

Echentov. Frazier (1), Smith 191 and Oft- 

en 882 98ft— 3 

g 1 vis; KrutowendBrento.W— Kruka«L47.L— 

7472—748 BaHImors 398 7W «2»-8 12 8 £5*!^* *' „ m m - , . 

7474— M8 Sob#rhooan.MJonei (7). BodtwHh tM and "JJ™ Ml MOM 1 1 

condaioria (91 and Pane; Dra- 

7 AnZito y'jle^mrtmTim ~ KcmSnr?Mcffito ykkltv.LettarhilTJiGoMoaelli and Kennedy. 

On Senbera 
Etkfla Pol land 

(xfwtidovcn to the Ty~breaken With 35 Hits to Go, Rose Smells the Record 

>» Y ' 

. 7 : -A - ■ 

i »• — 

u- - 


> ' 1 •*' «" 

' ,5 ^ By Ira Bcrkow characterize Rose is “ amaang ." 

'j ; ?* $ New York Tima Serrtix “IX?cs he amaze xotT said Bud 

• i ;; V CINCINNATI — Every day Harrdson, the Mcts’ coach. “He 

J; F since Opening Day this baseball amazes everybody. I know whai my 
; : 1 ''.-i season, when tbe 44-year-old teffl- k®r fed like and I'm 41. They fed 
! : r ripped two hits — a nm- like mush.” 

m r! *r Coring smde »tmI a two-run dou- “Amazmg? What’s amazing? I 
'U t; lie to lead 3ic Reds to a 4-1 victory led the league in hits when I was 
,r ova Montreal — The 40,” srid the man in. the photo- 

j'-, . r i M - Posthas nm a color box about him graph, who last Tuesday made his 
: K « its front sports page. The head- 16th appearance to the National 
-Ik hue on the box reaas, “Countdown League in the AB-Star Game. 

\ ' l « to thtTyi»raker." He was now cm of his c^> and 

^ \Briowtiiat, it reads: “Pete Rose’s om of the newspaper and sitting 
/ ‘ f magic number to pass TV Cobb’s behind (he desk in the tight quar- 
l • $ ' & f*w*r'Wt totri of 4,191. And be- tore of his office in Riverfront Sta- 
wdiat, in l»g black double digits, dium. l 

^ ate die figures. At the start of the He knows, too, that he led the 
£.’ wesson, the number was 95. On Fri- league in games played when he 
g: H Stood at 35. was 41, and he knows exactly how 

: :! 4 jr/ AlougBdethc hmirfHne and the many winning games be has P^yed 

-y number is sinmgriiot of a middle- 'in — the most recent coont is 1,905, 
j.*: : si % asad man in a fiwhvnafi Rais g career reemd that he is vary' 
ip-basriMll cap. He has a broad face proud of — and he asks: "Whos 
t - 1 ; ji % and broad nose and heavy ere- the oldest regular player to steal a 
f-l V kows abore smallish eyes; ashgnt- base? It might be me. I’Ve got five 
J? <i. ^shadowy beard; his dasky-ccL so far this season — five in ax 
’ , • ^ r^‘ OftdhaiHs faBing over his ears and toes." 

V ■ i* lips are mirsed in a detexmmed! fit regard to the chase for Cobb’s 
- ii^ or is it a soopccai of a atari? record. Rose says that he doesn't 

Certainly, it is not the aspect of fed pressure, though be is highly 
■■ /_ ^- the conventional matinee idoL .And conscious of it. 

V •• ij. be has never pretended to be such. *Tve got my priorities right," he 

r '^e is what he is. In his line, he is as said. “Winning cooks Em. The 
fj. '* TOn ghrairi-tnmble as dockwoA- hittin' record wml take care ofrisdf. 
'Vas narrowly focused as a micro- Ifs not tike therms a time Ihmt on 
. ^f»olomt, and as filled with ardor as it, not Hke when I wasgptngfar the 
.“sntrilhoymasweashop. jooaasecotiwgame lrittaggecotd a 
j 'Tins is Peter Edward Rose, now; ^ 

^Xj,fthis23dyearm them^orleagDe^ rine motifs over." 

' ,- ' x tiA perhaps one month away nom . A ccaiaderablc amount of atteo- 

w-ouinnw* TWO «ooa 09). H R» - PU to bu reh. Uwano tll.San 

tL* 8ft 898 39ft— 3 W 1 ira - ^ 7 . 

73-74—789 Derail «B1 99B-2 8 2 " JJ . i 

75-74-149 Howto. Harris (I) and Brimmer; Tonona, "JTV™ ... . 

78-79—1(9 Hamondaz (71 anO Melvin. Castilla M.Mati- 
71-78-149 son (8). W— Hwob.8-10. L— Tonona 48. Sy>- 

7377—149 Harris 171. HR-Twun, Word til. WdlodtllMNo 2 » >71 118-4 12 I 

— .. Ctodanan 808 818 118—8 8 7 

Koosmon. TakiAwa (8} and Viral I; Soto, 
t m ^ -w Hume m and Knlctly. Bilordalto |7L W— 

II - . _ -J Kooamen.4-2. L— Soto, Ml. Sw— Takulvo (9L 


AHtottP 278 870 882-4 71 4 

NOW York 188 k» Ttx—7 8 4 

_ _ ... ... Mohlar, Cams (4) ond Canto* ; Dart (no, Mc- 

Toay Perez, can be discerned m tbe ooweti ui. omco ra and r*voomc. w— 
won-lost record. “Last year, with 

basically the same team, wc were mo m wo i « • 

nowhere." The team at the AB-Star u» ao bow mb a«i ua -2 h t 

Game break last season was ninp Anduior, Honor ui, cmimmh in. Dcvirr 

«« ««» Mtoto; HMhlisr. Nkodntoor (8) and 
games unoer juu. 101 s season, mey s tio scia. vowm- w. w H or m nw. n l— 
have usually been well over .500 Canwbeu, 2-1 sv— Nisdaotuar n>. 

Major League Standings 

Ebs> DlwUea 

Th« AtKKjtftd IThs 

Pete Rose can still famge for a ball, but not always. successfully. 

endorsements or royalties or am- What does distract him “some- game; he said, “Only when my Wayne Kreachidti, the Reds’ 

. . . . • . , u4. ■ , .h -. I ‘J <nr 1 «n . 11 .. . ihLJ m mU 8—. 

Warhaw^ what" is manarinfc he said. “You pitchers give op 10 
Oh, yeah, can’t fenung about your- game." As they did the 
respected . self. Th^ are also 24 other putyers As a playing manag 
te he ffid to consider. " derstands that he musi 

■ He relies on his coaches, particu- ample, and he does. Ax 
journals- tarfy Gooree Scfaergex in the dag- . “gtcrifiaog” as he pu 
aoneof it out, who “keeps an eye on things 1 ’ times that means sum 
through a {in Scho^er’ s words) and Jim Kaai, ground oat, or a saaii 
id Series, the pitrinug coach in the buBpen. taking a waft, or “taki 
eats, re- Bat he mate the deaaons. aBowmg onesrif to be 

"he sail When asked if he fdt old after a an inside pitch. 

\M fl, * Phis virtuosity and dmabffity and show tmin Gncamati and vriierev- ** 

'rlftit, and he is doing it at an age er tbe feds tmvd. Rose is tbe focal MuhammadAIi, 

■ ■ ‘ : L_n -_!_a -C — — Mlf Ia_ fHP RtMini 

game.” As th£y dw the oilier nighL 
As a playing mana ger, Rose un- 
derstands that be must lead by ex- 

W, oh my, be is doing iL 
. The word most frequently used 
teammates and opponaits to 

HC cnai ™ - , . TTiTST ,7,. 

WathfJ portrait commisrimed by lot — pennant races, wood Series, 
tiie Cinramati Art Museum. Tm batting titles, hitting strcais, re- »ot 
not getting anything out of it ■ — no, cords — so Tm used to it," he said. w 

nowhere." The team at the AB-Slar 
Game break last season was nine 
games under .500. This season, they 
nave usually been well over J00 
and near contention in the Nation- 
al League West Division. 

As a hitter. Rose has made some 
changes over the years. Far one 
thing, be doesn't play as much as be 
once dkL He platoons at first base 
with the young Perez, who is 43. He 
usually sits when a left-hander is 
pitching and allows tbe right-hand- 
ed- hitting Perez to play. 

once were. After playing 16 seasons 
with the Reds he signed as a free 
agent with the Plumes after the 
1978 season. 

But the Phils thought be was too 
old and la him go after the 1983 
season. He signed with Montreal 

old team in the town in which he **•* nivt»k 

was born and raised. SokEST* £ 

This time, he came not only as a " 

player but as a manager. His pres- AManl0 » 

owe as a manage r mipfoved the Son FrandKn 34 

team slightly, but Rose the player 

improved considerably, going from T“__ 

a 259 average in Montreal to a J65 rOOtDful 

average the rest erf the way. » - - — 

He is a bound forbasebaD statis- CFL Standings 










New York 






























Watt DMstoa 
















Keran City 













A 77 







Gut DM Won 





St. LOUht 





Hew York 

























wen Dtobtoft 

Lo« Angaioi 





San Dlggo 




















San Francrtco 





10 walks in a third baseman, said that Rose tks— he is an inveterate fan— and 
the other night- * everyone play harder. ^ brightened when asked if any 

iager, Rose un- ‘^®ethMlcometotfep^a^ other ptaya ever had children bom 
rust lead by ex- my l^s hurtand my body’s sore 20 yearn apart. He hadn’t thought 
a„h and rm thinking maybe I won’t ** Ji,.*. Wk d-mohtw. Fawn, was 

SSElSESsibmiaS. !s?s 

making a 
bunt, or 
ahit" — 
inked by 

hnstling, working hard, and 1 think, 
rm only 30. he’s 44, If be can do it, 
1 can do it.” 

Tbe difference that Rose has 
made on the team, according to 

other player ever had children bom 
20 years mart He hadn't thought 
of that: His daughter. Fawn, was 
bom in 1964, and his son, Tyler 
(die “TV" was inspired by the 
Tyras whose record Rose is dose to 
edipang) entered Rose’s baseball- 
bounded world last Oct 1. “Good 
question," be said. 


W L T PF PA Pto 
Montreal 2 B 0 Si 34 4 

Ottawa 11 0 S3 45 2 

Toronto 1 1 0 S3 50 2 

Hamilton 0 2 0 to 58 0 

western division 
Brit Onb 2 0 0 47 18 . 4 

SakotcJiMi 1 1 0 71 51 2 

Winnipeg 1 1 0 34 45 2 

Edmonton 1 2 0 54 K 2 

Cstoorv 0 1 8 18 22 8* 

Thmtknrt Result 
Ottawa 41, Edmonton 19 

Page 20 



V-A (for Automobile) Day 

W ASHINGTON — It seems “Why nol? It isn't as if you’re 
like onlv vesterdav that we ever going to be able to sell any of 
Lhose rickshaws in the States." 

Ellen Zwilich Keeps Branching Out 


yy like only yesterday that we 
signed a peace treaty with the Japa- 
nese aboard the battleship Missou- 
ri, and told them they would never* 
be allowed to make arms again. 

“What should we do instead?" a 
defeated Japanese admiral asked. 

"Why don't you make automo- 
biles?'* one of 
General MacAr- 
thur’s advisers 

“Ah so. But 
Americans make 

How can a poor 
defeated coun- 
try like Japan 
hope to compete 
with your won- 
derful era?” Buchwald 

“Well, of course you can't com- 
pete in the United States because 
Americans would never buy a Japa- 
nese automobile after what you did 
to Pearl Harbor. But perhaps you 
could make something that could 
be sold in Southeast Asa and other 
markets where people don't care 
about quality." 

“Ah so. How do you build an 


“It sounds hard but I’m sure you 
people can get the hang of it. Here’s 
a book with the instructions. You 
see, you put the engine up here and 
then seats here, and wrap a body 
around it, paint it a nice color, and 
you have yourself a car." 

“Can 1 keep the book?" 

A year later, the first Japanese 
car came off a jerry-built assembly 
line. The Japanese admiral who 
was now in charge of Tojo Motors, 
showed it to the American aide. 

The ex-admiral bowed “Forgive 
us for this unworthy thing we call 
an automobile, but we do not have 
much to work with." 

The aide slapped the ex-admiral 
on the bade. “Don’t apologize. You 
did right well with what you had 
available. HI tell you what HI do; 
HI bring some of our boys over 
from Detroit, and theylJ give you a 
list of things voull need to build a 
decent vehicle. Well also send 
some of your designers and engi- 
neers over to the United States so 
they can get the hang of American 

“Ah so? You would do that for a 
poor little struggling Japanese 
automobile company?" 

Several years later, the MacAr- 
thur aide, who was now working 
for a large New York bank, 
bumped into the ex-admiral in the 
Waldorf Astoria. “What brings you 
to New York?" he asked jovially. 

“I am arranging dealerships all 
over America for our four-cylinder 
Kamikaze 3x2. It gets 24 miles to 
the gallon and has front-wheel 
drive, disc brakes, and a rear de- 
frosting window. Here is a photo of 


The American looked at it and 
shook his head. “You’re wasting 
your time. Admiral. Americans will 
□ever buy a small car, particularly 
one with front-wheel drive." 

“Ah so, but we only hope to take 
one percent of the market among 
the teen-agers and college stu- 

“It won’t work. We have a love 
affair in this country with gas guz- 
zlers and big fenders. As a friend. 
I'm telling you to save your money, 
and try to sell your product to the 
Third World. They will drive any- 
thing they can get their hands on.” 

The ex-admiral bowed and said, 
“Perhaps you are right, But as long 
as I am here maybe I will End 
someone who is interested.” 

It was 198 1, and both the Ameri- 
can ex-aide and the Japanese ex- 
admiral had aged considerably. 
When the American walked into 
the luxurious offices of the ex-ad- 
miral, die Japanese stood up slowly 
and bowed. 

“Ah so. And what brings you to 
Tokyo, my good friend?” 

“I've been sent by the president 
of the United States,” the Ameri- 
can said. “He knows we go way 
back, and felt I should bnng his 
message personally." 

“What message?" 

“He wants you to stop making so 
many damn Japanese cars." 

“But if we can't make cars, what 
else can we make?" 

“He wants you to start making 

“But we don't know how to make 

The president told me to give 
you this. 

“What is it?" 

“A book of instructions.” 

By Tim Page 

New York Tima Senior 

CC T\0 YOU remember those 

L/ time-lapse photography 
films they used to show in high 
school biology classes?” Ellen 
Taaffe Zwilich asked. “Years of 
growth were compressed into a 
couple of minutes. First you saw a 
root, then a sprout, then suddenly 
the tree began to grow branches, 
reaching out in every direction. 
It’s as if the tree were dancing. 
Composers grow the same way. 
We twist upward, while trying to 
keep our roots and balance." 

It is lunchtime, and Zwilich, the 
first woman to win the Pulitzer 
Prize for music, has shelved her 
pencils and music paper for the 
day. “1 do most of my composing 
in the morning,” she said. “Mu- 
sic's been running through my 
subconscious all night, so when I 
get up, I turn off the phone, and 
become unavailable.'' 

Friendly, unpretentious and al- 
most disconcertingly without any 
apparent neurosis, Zwilich does 
not fit the standard image of a 
classical composer. “Does the 
public have any image of us at 
all?” she asked. “I think that most 
people are under the impression 
that classical music is something 
written by dead people. 

“American composers are 
shadow figures, and the general 
public is almost completely un- 
aware of us. I’m talking about the 
well-educated public now; you 
know, the sophisticated people 
who Gil the galleries, line up for 
the latest films and theater, and 
read the best new novels. Go out 
on the street and ask someone to 
name five living American com- 
posers. Maybe, just maybe. Aaron 
Copland will get mentioned, or 
maybe Philip Glass. Then you’ll 
get a blank look.” 

A growing number of musically 
aware people might add Zwilich's 
name to the list Since sbe won the 
Pulitzer Prize in 1983, interest in 
her music has grown considera- 
bly. At 46, she has created a hand- 
ful of exquisitely honed works in 
a variety of forms, from siring trio 
to symphony. She writes in an 
idiosyncratic style that, without 
ostentation or gimmickry, is rec- 
ognizably hers. In her early 
works, one bears the influence of 
many composers; her 1974 string 
quartet, for instance, blends the 
knotty intensity of Bela Bartok 

The New Yort Tb 

Composer Zwilich: “This great seductive force.” 

with the languorous emotional- 
ism of Alban Berg. In her later 
music, one flhds a clear, logical 
and seemingly inevitable struc- 
ture — arching, charged melodic 
lines, aggressive rhythms and a 
prismatic combination of instru- 
mental colors. 

Zwilich’s music is helping re- 
kindle interest in contemporary 
music among; the often conserva- 
tive established performing 
groups as wefl as the public. The 
San Francisco Symphony plans 
the first performance of Zwilich’s 
Symphony No. 2 for its 1985-86 
season. Performances of her 
works are also scheduled by the 
Philadelphia Orchestra and the 
Los Angeles Phflharmomc. 

She has been commissioned to 
write a piano concerto to be per- 
formed in 1986 by the winner of 
the Carnegie Hall International 
American Music Competition. 
Last October, the Indianapolis 
Symphony gave the first perfor- 
mance of her “Celebration for Or- 
chestra." The same month, Man- 
hattan’s Chamber Music Society 

of Lincoln Center premiered her 
double quartet for strings at Alice 
Tully Hall. There have been re- 
cent recordings of Zwilich an 
small labels such as Northeastern. 
Cambridge and Leonardo, and 
more are planned. 

She has been composing since 
elementary school and never 
doubted that this would be her 

“I ihtnk every musician under- 
stands the Pied Piper stray,” sbe 
said. “Music is this great, seduc- 
tive force that draws you on. and 
yon follow wherever it may lead. 
That sounds awfully flowery, I 
guess, and I'm really not a wide- 
eyed romantic. 1 know technique 
is important; I believe in being as 
conscious a composer as I can, 
and I do a lot of thinking before I 
begin a new work. But then, once 
I’m writing, something mysteri- 
ous happens, something beyond 
explanation — not so much an 
escape from reality as a confron- 
tation with a deeper reality.” 

Despite her disclaimer, Zwilich 
'is something of a romantic, at 

least in comparison with man)' 
20th-century composers. Still it 
would be simplistic to label her a 
neo-Roman tic, fra 1 her work has a 
notable degree of classical poise 
in its car dill structure and tem- 
perate demeanor. Yet it is more 
impulsive than most neo-Classi- 
cim “I write a personal music.” 
Zwilich said. 

Sbe is blond and blue-eyed. and 
speaks with a husky, hybrid Flori- 
da accent. For 15 years she has 
lived in a one-bedroom apartment 
in a modern high-rise in the 

Like many composers, she was 
writing mmic before she knew 
how. “I used to simply make 
things up on the piano, and play 
them a gain and a gain ; I didn't 
write anything down until 1 was 
about 10." 

By the time she was in her 
teens, Zwilich was proficient on 
piano,, violin and inunpeL She 
wrote a high-school fight song, 
was concertmaster of the school 
orchestra and first trumpet in the 
band, and a student conductor. 
By age 18, she was turning out 
full-scale orchestral works. 

She attended Florida Slate 
University in Tallahassee, where 
she majored in composition. 
“Meanwhile, I was playing jazz 
trumpet, singing early music with 
the Collegium Musi cum and com- 
posing. I had a ball; it was a very 
open kind of place. Everything I 
wrote gpt played immediately.” 

She received her master’s de- 
gree from Florida State in 1961 
After one dreary year leaching in 
a small town in South Carolina, 
.she moved to New York to con- 
tinue her violin studies with Ivan 
Galamian (who taught, among 
others. Itzhak Perlman, Pinchas 
Zukerman and Michael Rabin). 
She quickly established herself 
among New York’s free-lance vi- 
olinists. and played in the violin 
section of the American Sympho- 
ny Orchestra, under Leopold Sto- 
kowski During this time she mar- 
ried Joseph Zwilich, a violinist 
with the Metropolitan Opera Or- 

“1 was already aware that I 
wanted to compose more than I 
wanted to play. Composers need 
some kind of hands-on experi- 
ence, either as conductors or play- 
ers, because if you know the or- 
chestral repertory only from 
s&Khring scores and listening to 
finished performances you can’t 

really tell all that's going on m the 

In 1970. Zwilich entered Jui!- 
hard to stud) composition with 
Roger Sessions and Elliot Carter. 
She became the first woman to 
receive a doctorate in composi- 
tion from Juilliard. in I9’ 7 ?. 

In 1979 her husband died of a 
heart attack. “It’s still very diffi- 
cult for me to listen to the Cham- 
ber Symphony.” she said. “I had 
begun writing it before Joe died, 
and when I came back to com- 
plete iL everything had dunged. 
It was a crucible of sorts. 1 loved 
Joe very dearly, and miss him to 
this day. yet his death taught me 
nothing so much as the joy of 
being alive. . . . Suddenly all 
talk of method and style seemed 
trivial; I became interested in 
meaning. 1 wanted to say some- 
thing. musically, about life and 


Zwilich has answered the obvi- 
ous question many times “Why- 
have there been so few women 
composers? It's simple: We were, 
for the most port, denied access. 
Still we're finding out that there 
were some women who continued 
to compose, knowing full well 
that they'd never hear their music. 
It's an incredible testimony to the 
creative spirit.” 

She pointed out that “a stagger- 
ing amount of people were in- 
volved in the creation" of her 
Symphony No. 1. which won the 
Pulitzer. “There was the Guggen- 
heim Foundation, which helped 
sponsor it: the MacDowdl Colo- 
ny. where 1 wrote the beginning, 
and of course the American Com- 
poser’s Orchestra, all. of whom 
put their collective faith into my 
symphony and allowed me the 
time to complete iL Now. go back 
100 years and compare the situa- 
tion: Nothing of the sort could 
possibly have happened, because 
society simply didn't recognize fe- 
male achievements.” 

Zwilich said of her work: 
“Some things never gel easier. 
The challenge in composition — 
In all of the arts — is to be a whole 
person, not merely a reaction to 
the previous generation or to the 
previous century. And no matter 
what your track'record, when you 
try to do something you've never 
done before, you risk falling on 
your face. So you have to work up 
courage. But I have this drive; it’s 
sometimes an uncomfortable fed- 
ing, almost like an itch, but in 
some ways it’s been my best 
friend, keeping me going." 

Excerpted from The .Yen 1 York 
Times Magazine. 

Firm Total for Lire Aid 
k HfdfOrifzhud Estimate. 

The confirmed total of contribu- 
tions during last weekend's Live 
Aid concerts for African fasme 
relief is £25 million (535 mffion). 
according to one of the organizers, 
the rock musician Bob Gefcfaf. Ear. 
!ier estimates had beer, twice jg 
high, but Geidof had said before 
the concerts that he would be hap. 
py if £12 million was raised. The 
first uk of the money will be for 
airlifting drugs to Mozambique 
and trucking food into Sudan, be 
said. The aid wifi be distributed at 
drought regions throughout Attica, 
inducing Iliad and Mali. Gefckf ‘ 


Despite charges of censorship, 
the U. S. House of Representative* 
says it will no longer provide tilt 
S 103.000 that the Library of Coo? 
era* has spent to produce brafc 
editions of Playboy magazine. Bep- 
rvwntathe C halm ers Wylie, Re- 
publican of Ohio, introduced an 
amendment to cut the money from 
the library's budget, quest] rating 
the literary merit of the magazine 
Wylie said the Library of Conereu 
produced braille editions of % 
magazines, including Popular Me- 
chanics and Good Housekeeping, 
all chosen bv blind readers. 

Bruce Springsteen, home after a 
trip through Europe, wiQ play 
Washington on Aug. £ to start a 
nine-week, 25-city tour of North 
America. The rock star, whose 
“Born in the USA" album has pro- 
duced five hit singles. wiQ appear 
with his E Street Band tfl-RFK 
Stadium, the concert's promoter, 
Dave Wffliams. announced. Spring- 
steen and his band have not played 
stadium-sized concerts in the Unit- 
ed Stales before, for fear that hk 
three-and-a-half-bour shows would 
lose impact in larger sites, kt Eu- 
rope. however, he played before 
crowds of up to 100,000 people. 


Sydney BhkOe Barrows, dubbed 
the “Mayflower Madam." pleaded 
guilty Friday to promoting insti- 
tution in return for a 55,000 fise 
and no prison sentence. Bamm 
was arrested in October after a raid 
on the headquarters of her three 
escort services in New York. The 
case led to headlines because Ar- 
rows traced her ancestry to the Pil- 
grims who arrived in America M 
the Mayflower. 






TOURAINE 10 km somhwen Tours, 
Hon and but ihrfian m vMoqb, golf, 
hone ncSng, feme, leisure center on 


^^^634 59 65. Rome I 

EngMi Rom (daily) 634 5965. Rome 


HAVE A MCE DAY1 BatmL time a DET. I 
nice day! Betel 












He|*y Birthday Kat 
Wherever You Are 
Lave M. Kang 




USA AIM Van Lines Ian Carp 
(0101) 113-681-8100 
Office Addw* 25dtAv A RoasevdrRd 
BroatMw, Unoii 60153 USA 


Or caB aw Agency offices: 

PARIS Desbardes lntermrfiond 
(Oil 343 23 64 



'n : - jv’.'-rr 


In Ihe channing mountain resort of 



Overlooidng a spienrfd Alpne panora- 
ma 30 rain, from Montana era Labe 
Geneva by oar. 

- you con own cjudby leoecn 

with indoor iwsmang pool end 
fifties fori&ies ei on ided 
environment far Iwure and iparti 

- hnattangj* tow Sf. rc MS 
up to B0» mortgages. 

Pleura contact 

Be d dence le e fiem , 1854 Loyth 

Tet (025) 34 1 1 55 Tbc= 456 130 RAJ Ot 


Lovely apartments w&Bi impifiad 
views a t Cake Geneva and mountain. 
Monfteux, Viters, Verfaier, [os Dtebter. 
■b, Chceoou aOex near Gitaad, 
leysn. lUc e lit Opporiunftte* 
Prices tram SF123XXB. 

Liberal m o rt gage e at interest. 
GdEnAM S.A. 

Red Eefcrfe Specidats 
Av Mon Repos 24, 

CH-10Q5 Lauaeme, Switzerland. 
Tefc (311 22 35 12. Thu 251 85 MBJS 
EeMlbhad Shoe 1970 


Inttu world famous resort we offer first 

on ?2th Boor of a budding stinted on 
the sea shore with a large terrace over- 
looting die too. eery large sitting room, 
a double & a ends tee&wm, kitchen, 
bath & entrance ndl 


Far IrnmedwfB ocarctKXi at favorcteie 
price. Boo 4432 d8bT Pubfanas. Ot- 
8021 Zurich 

RJ3RENCE CENTRE, rare penthouse 
on Arno. Incredfck* view, terrace, aid 
world charm. 5220,000. Tel; Fran® 
(42] 92 W 62 -My {S$26 44 19 



Mognifi e oiB apartment 116 sq. meters 
portly furmhed at Park ftJara, appo- 
site lf» casino and Hotel de Fans, hi the 
Golden Triangle of Monte Cato, new 
buRdhng, 5th Roar with front an nger 
terraces, cola & parking. 

fa InformaSork Please col! 

Tel No m Monte Carlo 304026 

Between the dates: 

22nd & 30h July, 19B5 



7th, c harrin g old pied-otorre, 
hgh dms. 72 Hutu 3 rooms 380 2fi 0B 

1 ,