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The Global Newspaper 

. Edited in Paris \, j 
Printed Simultaneously . 
is Paris, London, Zorich, 
Hong Kong, Singapore, 

Tie Hague and Marseille 

WEATKEK &ATA APPEAR ON PAGE 14 

No. 31,863 

Japan Eiia 

U.S. CoMt 


INTERNATIONAL 



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Published With The New York Hines and Hie Washington Post 




PARIS, WEDNESDAY, JULY 31, 1985 


faM— U ofm i a ^ ltT s.j»uu.u;5f’ 

fiJOf '*“•»» — Ufa*. Tjnw ..PSJOhn 

urTni ,:epm m,S3 — ^vn^.-atsuc 

On»«n It* *o>vn . 1M> tJAl .. t£)C.,!i 

&i*cm *> & N*wkna- :.’i *» 'jl im IL* i— K3i 

-» ..II* ban rlgra-. 1 ' ' k. 'iffwi-i ... :OE 

ESTABUSHED1887 


to Answer 


»n Trade Gap 


By John Burgess 7 1 - • "TTTt..^ and put fewer resources into cx- 

WomngiOH Post Service : . :: V : ' ports. 

TOKYO —Tie government, in 

, ^ to hod cSnSSia oumoit'wuM^Wlymyadfr 

leasJaiion by the US. Combs. 

SSi a tL**ar ptoW dags on. Jepmeie np ortt bat 

Syioeecounge fore^QalK i, .■k'"- ■ J won£l conmme to pimoe “wdrty 

r£>- -b- •.-» marketing s term by which (he 

^Tteplan indudes tariff cun. a itfIKS "*”“5 

anmflttn of import proce- by nhW cwnpamaso as not 

SSw and standarfsfaud other W§L^' ' to ^P 1 P^ 1 * 

ineasures to promote imports. '?S®i|V- - v . a f‘ nere ccMwnues.^ 

Its broad outlines were already 1 •? •. ^ ■! ^ aS ° °?_ S r^? >ea ^ 

known, but the TOvemment dis- ■ 1 £ • [ OT ®t»e nnpom foj&rw one that 

dosed new details Thesday, indud- -1- . he made an national .<maoe m 

SrT fom commiunent^ to bean ApriLJapanhasexperuajccdaflur- 

cuoing tariffs on imported ttiW ^ of rngxyrt Jaire ^iri company 

w5 April 1987 and a wiflxng- ta f 2E8kE£ 

ness ro end aD tariffs on computer chases sino: then. Bm offiaals bere 

l~T. v are not able to offer any statistical 

Jmanese officials, said the new cridence that the Ja|»iiese have be- 

aspects would demonstrate further coax more open to foreign goods. 

rhar Japan was serious about ad- : In fact, Japanese imports from 

dressing trade tensions with the W$k TUB United Slates dedined margin- 

United States. ally in (he first six months of This 

Prime Minister Yaaihiro Naka- Ynsnfriro Naki^onT** F**' wMe - Unhcd 

sone, er ring his detenmnaticm to xasumro rNaKasone States continued to nse. 

“wipe away’ 1 foreign criticism that • ■ ri c »* i 

Japan js unfair in trade, reitemed Japan’s economy is headed to- Judgment 

that the country must increase its slowdown, a , l{aas t^ L ^ asm ' 

imports and stimulate consunqr- Larry Sp^^mutmed the cau- 


and put fewer resources into cx- 
ports. 

Mr. Nakaronesaid that the gov- 
ernment would not apply any addi- 
tional formal restraints or sur- 
charges at Japanese exports but 
would continue to pursue u <nderiy 
marketing,” a term by which the 
Japanese mean -in f ormal restraints 
by individual companies so as not 
to severely disrupt trading part* 
tiers’ economics. 

Mr. Nakasose’s appeal Tuesday 
for more imports follows one that 
he made an national television in 
ApriL Japan has experienced a flur- 
ry oT import -fairs and company 
announcements of foreign pur- 
chases since then. 5m officials here 
are not aide to offer any statistical 
evidence that the Japanese have be- 
come mare open to foreign goods. 

In fact, Japanese imports from 
the United Slates dedined martin- 
ally in the first six months of This 
year, while exports to the United 
States continued to rise. 



Helsinki Forum 
Reflects Soviet, 
U.S. Divergence 


By Henry Tanner 

littmuziicna! Herald Trbune 

HELSINKI — Eduard A. She* 
vardnadze, the new Soviet foreign 
minister, and Secretary of State 
George P. Shultz of the United 


making hib firM public speech in 
the West as foreign tr.ici'ier, re- 
puted many of die clleutions of 
his predecessor, .Andrei A. Groms- 
ko. 

He accused rhe United States of 


States offered conflicting views deploying fiM-suike nuclear mis- 
Tuesday on the subject they were siles in West Europe, of vioiating 


■ VS. Reserves Judgment DoInrymn,a 4 loptsunflar 


Secretary of State George P. Shultz and the Soviet ambassador to Washin 
Dobrynin, adopt stmflar body language as they converse in Helsinki before 


nwfcuMkiFi 

ion, Anatoli F. 
le conference. 


non at home. 

Citing heavy budget deficits, Mr. The merchandise trade WadiiflgtML 

Nakasonc ruled out increased pub- deffe^ and the trade deficit with “It is difficult to determin e from 
lie spending to increase £c demand j ^ ‘noised. Ftoe 9. ^ »aaooactmaii whether the 

for goods and services. But he said . 1 ? - program wiQ remove the bulk of 

that in September the government these barriers in a timely fashion,” 

would begm studying ways to slim- his government approved the trade The Associated Press quoted him 
ulate economic activity through tax program. as having said, “so we must reserve 

reform. Monetary polity ana de- "This will mean a major chang e judgment until the effect of the 


reaction Tuesday in 


Nakasonc ruled out increased pub- deficit and the trade defidi with 
tiespendmg to increase £c demand j ^ pw 9 . 

for goods and services. But he said 1 ” 

that in September the government 


ulate economic actrvi 
reform. Monetary p 


oughtax 

and de- 


Pre-Summit Mood: US. and Soviet 
Engage in Duel of Thrust and Parry 


regulation could also be used, he hi the Japanese nation's way of program on onr exports is real- 

- .l- u ■ 1 .r !_«j » 


thinking and love of domestic tzad. 


[In Washington, the United products.” he said. 
Stales reacted cautiously to the an- He declined to esti 
nouncement, saying that the new plan would mean is 
trade program appeared to have for Japan’s trade si 
loog-term benefits but might not reached $37 billion w 


By Hedrick Smith 

. New Tori. Tima Strtice 

Washington — T he soviet 


ers to a U.S. underground nuclear chev has pursued a strategy of ex- 
tesL panded political openings with 


“While a long-term effort is wd- Union's announcement that it 


test. 

At each important turn, the 
United Slates has reacted quickly 
to avoid being outflanked. Hmts of 


commemorating: the signing 10 
years ago of the Helsinki accords 
on European security, cooperation 
and human rights. 

Observers nevertheless discerned 
some positive developments Tues- 
day. 

Mr. Shevardnadze and Mr. 
Shultz, despite the blumness of 
their language, went out of the w ay 
not to close doors on future U.S.- 
Sovici discussions. 

Both referred in hopeful terms to 
the scheduled meeting in Novem- 
ber between Ronald Reagan and 
Mikhail S. Gorbachev in Geneva. 
Both made it clear that their gov- 
ernments attached great impor- 
tance to the meeting. 

European diplomats said that 
they were encouraged that the Rus- 
sians and the Americans have 
brought some of their top negotia- 
tors at the Geneva arms talks to 
Helsinki. 

The U.S. delegation was changed 


panded political openings with me vj.s. ccicgauon was enangen 
China, France, Italy and the Euro- aithe last moment to indude Paul 
peon Community as a means of H. Niue, the U.S. administration’s 
putting pressure on Mr. Reagan. senior adviser on arms controL and 


treaties limiting strategic of fee; be 

arms and anu-oailistic nubile sys- 
tems. and of being deienrur.cd to 
co through with its S'jatecic De- 
fense Initiative “'by whatever 
means." 

He said ihj: the Reagan admin- 
istration was reluctant to negotiate 

To Soviet dissidents, the Helsin- 
ki pact was human- rights prom- 
ise without substance. Pase 2 , 

in a “burinssslifcc manr.rr” at the 
Geneva arms talk* . 

He asserted that uretamed “re- 
vanchisi" forces in the Ww were 
“attemptine to question" the tu- 
torial agrecmir.ts made at Yalta 
and Potsdam that set rite postwar 
borders of Europe. 

He warned that someone 
counts on mrgotiaur.s with the S»»- 
viet Union from a 'position of 
strength’ he should abandon such 
an illusion." 

Mr. Shultz, in his speech 10 min- 
utes later, did no: respond to the 
Soviet statements, but detailed 


Jfitttm zaa£ffSB& ar.aBSrttfs SSSSSSc 


resolve immediaie proWems in (he States last year. But he said the 
U^.- Japanese trade relatioushm, amount would be "substontiaL” 0 f 
Tim Associated Press repotted. Toe Mr. Nakasonc said that the eov- an 


John C Dan forth, the Antrmnn Gorbachev to put pressure on Pres- 
the Senate Commerce, Science ident Ronald Reagan before their 


NEWS ANALYSIS 


cow announced Mr. Gorbachev's U -S- negotiator on space and de- 
agreement to meet with Mr. Rea- fensive arms at the Geneva talks. 


realm of human rights. 

He named more than 20 cases, 
including those of the Nobel bure- 


_ nount would be "substantial.” of the fanaig Commerce, Science ident Ronald Reag; 
The Assodaied Press reported. The Mr. Nakasone said that the gov- and Transportation Committee, November meeting. 
ch ai rma n of the Senate Commerce eminent had began studying ways a»M that the pi«fi was suspect until The United Stare 

Committee said the plan's worth to raise demand for goods and ser- more American products began to deflect the Soviet 

would be proved when more Amer- vices at home. Leaders of the ruling be sold in Japan. "We've heard 

icaa goods began to be sold in Ja- Liberal Democratic Party favor great-sounding words before,” 

pan.] _ such a step, which would mark a United Press International quoted 

A U.S. official in Tokyo called modification of Japan's traditional him as having said, 
the new measures a positive step stress on high savings and low con- Mr. Danrorth, Republican of 

for the long term. “They woo t sumption. Missouri, was speaking on a tdevi- 

make a difference tomorrow, but American officials have previ- sum news program. He mirf that 


have been discoamed as too vague y° n 
to suggest whether Moscow sen- 
ously wants a breakthrough or is 
merely posturing. ™ 


in physics. .Andrei D. Sakharov, 
ri F. Orica and Anatoli B. 


far the tong term. "They won t 
make a difference tomorrow, but 


over the next several years they ously praised the proposal, on the the United States should retaliate 
w3C be said. assumption that it would help cor- against specific Japanese products 

Mr. Nakasone spoke in a nation^ net trade imbalances by leadiig if that country failed to remove 


said that the plan was suspect until The United States has sought to ously wants a breakinrougn or is 
mare American products began to deflect the Soviet moves and to ““™y posturing, 
be sold in Japan. “We've heard rake its own initiatives to try to Tb® White House turned aside 
great-sounding words before,” keep Moscow on the defensive. Mr. Gorbachev’s testing moraton- 
Uniied Press inte rnati onal quoted This has produced almost a um Monday cm the ground that the 
him as having said. Ping-Pong rhythm to public pro- . Soviet Union bad conducted an ac- 

Mr. Danforth, Republican of nooncements by the two rides that ceterated program of tests, so a 
Missouri, was speaking on a tdevi- specialists expect to continue iauponuy suspension would cost 
sum news program. He said that through the summer and fall. little in the way of weapons devel- 
the United States should retaliate The Soviet proposal Monday for opmew and amid be followed later 


The Wh’te House turned aside IwJy. government had «- 
Mr. Gorbachev^tSing moratori- political recognition to the 

um Monday on the ground that the 


O . — - - .111 t * »*■ uimuy iUv'tW UliAftl —V VJOkSt 

gan, the Kremlin disclosed that Mr. A 5 recently as late last week it including of the Nobel laure- 
Gorbachev would go to France was not intended to make the rao a te in phvars. .Andrei D-Sskhann, 

firsL men pan of the delegauon. source Yori T/ Orlov and Anatoli B. 

He met earlier in Moscow with p d - Mr. kampelman was called Shcfcaranskv. who have suffered 
Prime Minister Bettino Craxi of hara from a vacation, the sources persecution! Mr. Shuhr died the* 

Italy, and his government had ex- s™. . . , . as evidence that the Soviet Union 

tended political reawnition to the Soviet delegauon included ^ had failed to live up 10 the 

Eurooean Cotnnm. two ees- two lradmg_disarmarnent negotia- rran'T.itmfnli; it ii-_ 


assumption that it would help oor- against specific Japanese products a moratorium on nuclear testing 
net trade imbalances by leadi ng if that country failed to remove was matched by Mr. Reagan's invi- 
Japanesetobay more from abroad trade barriers. ration for Moscow to send observ- 


£T iS^sSIXm^S -‘nT^^m^yior MMSfuErito S£ &££&£&£ 

against specific Japanese products a moratorium on nuclear testing by more inumsrve tralmg. fivtvear tra^aweement, dSe 


ally televised press conference after Japanese to bay more from abroad trade barriers. 


More broad 
lyst* say they 


political ana- 
Mr. Gorba- 


Italy, and his government had ex- . as evidence that the Soviet Union 

tended political recognition to the ^ Soviet delegauon included ^ had failed to live up to the 

EmopeTcomS^ w, » l-SiHS 2S3iS3 i. I- 

lures aimed al improving pohucol u>r ®- ' “f N \‘ uinME >- “ omled in 1975 but also that the 

and economic relations with West- gSrS£tS5£i at Sts on riEhls “*• *he Soviet Union 

era Europe. S' 11 ®. Soviet negouator at talks on ^ woreeMd 

On July 10, the Kremlin stepped ^ ntedium-range missiles m ^ ^ ^ Shrv ^d- 
up its level of cooperanon with . nadze were to meet pnvatelv at 

Oina by anting a SI4-biUion. ^ least once Wedcesdav . 

five-year traitoagreement, despite ^ ^ ^ ccm P° ! ‘ ilion ° r their dc,s S3* 

(Continued on Page 2,CoL7) Mr. Shevardnadze, who was (Continued on Pa« 2. Col. 5l 


The composition of their dclega* 
(Continued on Page 2, Col. 5t 


No Sales Yet 
In U.S. Farm 
Exports Plan 

By Ward Sinclair 

Washington Past Service 

WASHINGTON —The Reagan 
administration’s program to subsi- 
dize UJ5. farm exports by giving 
away surplus government com- 
modities has produced no final 
sales agreements after two months 
of operation, but Agriculture De- 
partment officials say it is too early 
to consider the program dead. 

Under pressure from members 
of Congress from agricultural 
states to reverse the drop in farm 
exports. Agriculture Sepetaiy John 
R. Block announced in May that 
up to $2 btDkm in govermnent- 
oetted surpluses would be used to 
bolster saks. 

The announcement caused con- 
troversy when Mr. Block, said that 
the subsidized sales, although con- 
trary to the administration's trade 
policies, would be targeted on mar- 
keis that the Umtcd States had lost 
to what he called its competitors' 
unfair trading practices. 

The first subsidized sale was of- 
fered to Algeria, formeriy a major 
buyer of American wheat, but the 
Algerians have not responded with 
tender offers. Algeria now relies an 
the European Community for 
much of its wheat, which is avail- 
able at a lower cost because of the 
EC's expon subsidies. 

A second subsidized sale of 
wheat flour to Egypt is planned, . 
but details are not final Egypt is 
another forma 1 major buyer of 
American wheal that now gets 
about 70 percent of its supplies 





Soviet Mystery: Why Chernenko After Andropov? 


By Dusko Doder Soviet Communist Party brings 

Washington pm Service office. The office itself is not on 

MOSCOW — Precisely why and how Kan- action in the system. In a stric 
stan tin U. Chernenko was selected to succeed political set-up, 11 is everything. 
Yuri V. Andropov as Soviet leader is still a These early impressions of Cl 
mystery. When the choice was announced Feb. ever, turned out in some ways tc 
13, 19&, it came as a jolt to much of the nation. Less than a year after taking ovi 


The next day a physically exhausted Cher- Chernenko almost single-handedly engineered a 
nenko faced the nation from the Lenin Mauso- - — — . _ 


Soviet Communist Party brings with him to the tional. in the traditional mold of a successful 
office. The office itself is not only the center of party bureaucrat. He was. as a senior Sovte: 
action in the system. In a strictly hierarchical official put it pnvatelv, "a tremendously avei- 
political set-up, it is everything. age man" who bad risen soo high. Wfcai pro- 

These early impressions of Chernenko, how- polled him forward also held luro hack once be 
ever, turned out in some ways to be unjustified, assumed supreme power. He was 2 victim of his 
Less than a year after taking over, for example, background, sharing Brezhnev's ideas and style. 


ieum, presiding over the Andropov rites. 

First impressions often become lasting im- 
ages, and in Chernenko's case these were devas- 
tatingly negative. As the Spassky Tower bdls 
signaled noon and the new leader seemed not 
quite sure how to proceed, the voice of Foreign 
Minister Andrei A. Gromyko was clearly beard 
over the loudspeakers. 

“Don't take off your hat," he said, turning 
toward Chernenko. 

The new leader looked to his left got an 
approving nod from a fellow Politburo member, 
Viktor V. Grishin, and began 10 read his speech. 


Chernenko almost single-handedly engineered a Chernenko also inherited Brezhnev’s coostit- 

’ uency and was unquestionabh its dzndaid 

bearer in the Kremlin councils. 

Power ill the Kr e mlin Tbs most likely explanation for Chernenko s 

elevation was that Andropov, during r.is brief 
Brezhnev io Gorbachev tenure, bad shaken up tbe country 10 such on 

— extent that the panv bureaucrats might have 

Second of three articles had second thoughts aboul whether they really 

■ warned so strong and forceful a figure/and so 
crucial shift in Soviet policy toward the United disturbing a challenge to the certainty of their 


delegates 


Chernenko. 

Much of the Soviet clue was hoi.nr.j ihai the 


Viktor V. Grishin, and began lo read his speech. It would be difficult 10 imagine a truly indrri- Much of the Soviet clue w os nopir.f. ihai the 
One could see his breath in the freezing cold. It sivc and feeble man rising to membership in the job would go to Mikhail S. Gorbachev , iter. 53. 
was lira shallow breath of a man with a respire- Soviet Politburo, lei alone aspiring to become die youngest Politburo member, who hud ob\i- 
tory problem. Has voice lacked firmness. He die country’s leader. ou-ly been groomed by Andropov for tte lead- 

slurred his words, and one of Leo could not make For nearly three decades, Chernenko had ership. 

out where ins sentences began and ended. served as the closest aide to Leonid I. Brezhnev. R'hen the ojj caarj cpxJ !cr Chernenko, 


Next was Mr. Gromyko, whose eulogy was a He knew all the secrets and saw all papers and 
masterpiece. He seemed truly to mourn Andro- documents before they came to Brezhnev's desk, 
pov, as did the following speaker, Defense Min- During Brezhnev’s last, ailing years, it was 


is ter Dmitri F. Ustinov. 

It was the picture of these two powerful 


Chernenko who in effect ran the country. 
People who knew Chernenko described him 


figures, who spoke forcefully and appeared as a man of above average intelligence with a 
physically far more vigorous than Chernenko, talent for organization and a mastery of lechni- 
although he was a few years younger than they, cal details. Even his detractors concede that he 
that made tbe new leader appear a feeble and was an efficient administrator with whom thev 


UaiKd Pres KMnoqnd 


Konstantin U. Chernenko with Leonid L Brezhnev at 1979 talks in Vienna. 


indecisive old nun surrounded by party barons, liked lo deal on business more than with any 
Jt is difficult to overestimate the importance other member of Brezhnev’s entourage 
of style and instincts a general secretary of the Yet his mind, for all its clarity, w as ccr.vcr.- 


tt'ten the old uUarJ opted «Vr Chernenko, 
it a: wav me lowest point :n the protracted 
irar.silior, criris. 

Everylhing seemed stacked aaas.t*! Cner- 
nenko. Hie v^esnreid iense of dejection and 
nlo«>m. which was a!!-perva:.ivc durmg ihe next 
few weeks, was summed up by a write:. 

"1 can tell you tiv.i a.; a Sus-ian wrier. 1 
honestly lee- her. in my national u:|miv.'' he 
said in pilule. “I lovcmv couutn. !’m proud of 
iL 1 jm r.oi a Ji-sidetr.. but i uo not w 4 r:! such a 
man to be at the neid of our courar. ." Fnc ■•hcer 
(Continued on Page 5. CoL 1 1 


% Industrial Dream Fa 


INSIDE 


By Nicholas D. Kristof ommtries .from the mire of i 

^ New York Times Smiee 

NEW YORK — Rising above the splendid markets, many expats say l 




way “^S G Zr^ African capital of Lome, Toga _ . 

dersecretsrv nf norinZrS m. 80 a 36-stoiy luxury hotel, and a shift," said Walt W. Rostow, whose I960 book, industrialize. A rare economist who became a 

lenutionai affairCand commodity «*ram«s and brick factory. A patina of rust and The Stages of Economii; Growtij.” became ihe crusader for agriatiiurc was Theodore W. 

nraerams “brn ,w no distfluaomnetti berimes these dream of past bible of development fix its description of how Schultz of the University of Chicago, who in 

programs, out oqe loing tnat Has ; e iVip cimJ mill J»h .. 1 


am tries from the mire of indigence! And at- Today most economists, including such doy- 
ough prices erf wheat, sugar and other agricul- ens as Mr. Rostow and John Kenneth Gal- 
ral products are sordy dqtiessed on world braith, say that they emphasized agriculture all 
arirats, many expats say they represent the along. Indeed, no economist or statesman ever 
eatest hope for me Third Wcrid. said that agriculture was unimportant, but in 

“There Iras been a tremendous and historic practice it tended 10 be overlooked in the rush to 

if* ” TU.t* XU IQA/l kiut A .irl... U« M , n 


nraerams “hni h« distfluaomnenl berimes these dreans of past bible of development fa its description of how Schultz of the University erf Chicago, who in 

decades: The oil rcfineiy is closed, the steel null countries generally evolvefrom tn&rioualagri- )979wontheNobelMenirialPrizemEconoiD- 
off fire are for a 12- bas been leased to an American, the hotel is culture to modem industry. “You have the dra- ic Science. 
rrwTfh^rkvJ" - mostly empty and the factory no longer makes ma of India exporting gram to the Soviet Union, “Most of the poor countries were bang ad- 

■‘xv , 1 . oeramics. and the same thing is happraing in China. The vised by the rich countries, and also from with- 

Similar “white elephants’* loom over the pov- word is spreading: You can't cheat the farmers." in, that ite best way to achieve cconormc growth 


month period.” - 
“We did not expect people to 
rash Out and buy right away,” Mr. 
Amstutz said, “we’d love for them 
to announce tenders five minutes 
after we offer one of these ini da- 
tives, but remember, this is a buy- 
er’s market for these products.” 


ceramics. 

Similar “white 



Syrians Send 42 Tanks 
To Back Beirut Shiites 


Bv Nora Boustanv . Dr. Zuhetr &rro. an adviser to 
H’afonec* y,-.isre A ™* 1 N - iblb con- 

nr-mi it- „ . . .. . firmed that the armor u'as to assist 

, S\Tta deli'ercd at casing out the Ssrior.-spon- 

teast 42 Soviet-made T-5-. tanks to jo ra j yxuzitx roeasures. He said 
Beirut on Tuesday, apparently Tor ^ ^ guppies were for the Leba- 
Lhe Lebanese .\rm\ s 6 ih Brigade Qese 6[h Brigade and ttet 

and the Shine Moslem militia \ m al helped transport them. 

. . Antal's militaiy branch said that 

It was the first tune Syrian tanks some of the tanks had moved from 
had returned to the Lebanese capi- ^ Bckaa Valley 10 Beirut and that 
lal since Syrian troops weieevacu- most were within the diy. ft said 
a ted in the summer of 1982 after i^i the i-inks would be used in the 
the Israeli invasion- The arrival of “gathering of heavy weapons” and 
the tanlts dramatically altered the nniw j dtat thev had been entrusted 
balance of power among Lebanon s to the 6 th Brigade. 

Moslem nuhbas and between Mos- Tbc bth Brigade , compoied 


announce a tender oner tor wneai 
flour within the next few weeks, 
which likely will be the first test of 
the subsidy program. 


nations aspired to replicate at least the forms of this shift of emphasis. We want agriculture to be immense. Shifting development strategies — ■ 
industrial societies, to catch up with the West by come to the fore.” particularly when that involves raising food 

building industries to free themselves Cram the The n e w-boni agricultural f undam entalism is prices to stimulate farm production —can gpn- 
indignity of supplying the raw m a t eria ls that a far cxy from the strategy of industrialization erate riots or coups. In April, for example, Ura 
other nations routed.' that was heralded in the postwar years as the Sudanese government was overthrown^ after it 

That era appears to have ended. Today tbe escape from poverty. . ,r ® se ? (be price of tbe round bread c&lkd laish 


■raised tbe price of tbe round bread called aish 


the subsidy program. watchword ordevdopment « not industrialize- Not only tire developing countries, but also that is sold on every strwl aimer in Khartoum. 

“We’re expecting some tenders tion, as it was in the 1950s. 60s and 70s, but the United States, Weston Europe and the Bm »ae are also wider international imph- 
f flirty soon," said Paul Green, an agriculture. In financial ministries around much Soviet Union encouraged this view, aiming mfl- cations. With increased resources aevorea to 
official of the Mflfers National ^ ^ wild, in ivory towers from Bdjing to lions of dollars in aid to finance vast prestige ^culture m most of the Third world and 
Federation, who was in Cairo last Boston, and in Washing ton, development strai- projects such as ri*m$ and power plants intend- Eastern Europe, more countries are aoie to iced 
week. “Buyers have reacted post- «nes have been turned upside down. Old ideas ed to asast-the new industries. And economists themselves, or even to export thor agricultural 
lively. This is a compliatted pro- ^ve become widely discredited. from the London School of Economics and pnmjna >» gJJ. * . 

gram, but we think it will work for Farmer, not industrial tycoons, are seen now elsewhere roamed the'Durd World, bearing the This aits into tradmraal markets of Amen- 

(CoutiiBied on P^e 3, Qrf. 6 ) as tbe pivotal figures who can hdp pull their gospel of industrial i zation. {Continued on Page 13, CoL 4) 


{Continued on Page 13, Col 4) 


Prime Minister Rajiv 
Gandhi reached his his- 
toric accord with the 
SSchs by skifl. compro- 
mise and hick. Page 2. 

■ US. shuttle astronauts faced 
new problems with their astron- 
omy experiments. Page 3. 

BUSINESS/HNANCE 
■Tbe British ementamit has 
announced final plans for sell- 
ing its remaining Bribes] PLC 
shares. PaseS. 


Jems and Christians. 


mainly of Shiite soldiers 


Witnesses saw at least of the cers< teen poorly equipped 
vintage tanks, a rnodej used m com- compared to the more polished 
bat in the Middle East, Angola. Christian brigades deployed in 
Vietnam and in fighting between astern Beirut. 

India and Pakistan, rumble toward The 6 th Brigade and the Shiite 
Beirut's southern suburbs from the mainstream Amal movement have 
Druze-held coastal town of Damur. WO rked closely since February 
The Christian-controlled Voice 1984, when Syrian-hacked M odem 
of Lebanon said that 46 of a con* forces overpowered Christian-led 
signment of 50 tanks had reached army units and took control of the 
Beirut 10 help back a security plan Moslem half of the Lebanese cap;, 
for the city. Ud. 





■Page 2 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


** 


j India’s Sikh Accord: Skill, Risks, Compromise (and Luck) 


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WORLD BRIEFS 


By Steven R. Wtisman 

New York Times Service 

NEW DELHI — Luck, political maneuvering and willingness to lake 
risks all helped produce the historic accord that Prime Minister Rajiv 
Gandhi and Sikh political leaders reached last week. 

But these same factors also point to die delicacy of the agreement, the 
difficulties that lie ahead and the dangers of further agitation and 
bloodshed. 

A high aide to Mr. Gandhi said Monday that the mood around the 

NEWS ANALYSIS 

biggest triumph since the election victoiylLt December* 011611 

The agreement was seen by his aides as vindication of Mr. Gandhi’s 
conciliatory attitude and his determination to settle what be called the 
No. I domestic problem. 

The accord, which was formally approved by mainstream Sikh political 
leaders on Friday, led to a formal declaration by the Sikhs that they 
would end .agitation for greater control in the Punjab, their home state 

The acc6rd includes a change in the boundaries to give Sikhs more 
power, more lenient treatment for Sikhs arrested in rioting and referral of 
several issues to judicial panels. 

The accord has gained widespread acceptance among Sikhs and 
Hindus, bat key groups continue to reject it, char g in g that it does not 
satisfy their demands for autonomy in Punjab, relief for victims of ami- 
Sikh rioting and lenience for those arrested in a crackdown on Sikhs. 

The critics include only the most militant Sikhs, who are believed to 
have been responsible for much terrorism in the last three years. 

But even if the radicals are isolated politically by the moderates, as 
many expect, they might disrupt the drive to restore stability. 

Some officials fear that raids and arrests to suppress the radicals could 
rekindle Sikh bitterness. 

“We win not allow anybody to disturb the peace at this stage.” said 
Aijun Singh, governor of Punjab and the principal negotiator of the 
accord. 

The story of how Mr. Gandhi negotiated an agreement offers a glimpse 
into the influence of politics, principle and public attitudes in India. 

In the view of most experts, the prime minister was able to make a 
breakthrough because the public grew weary of violence. 


Troops Intervene at Temple 


The Associated Press 

AMRITSAR, India — Paramilitary forces entered the Gohkn 
Temple complex here Tuesday to disperse Sikh moderates and mili- 
tants who were battling with rocks, swords and gunfire. Dozens of 
people were reported injured. 

At least 50 shots were fired by rival activists before the violenoe was 
stopped, city police said. Authorities arrested 62 Sikhs, all identified 
as members of the militant wing of the Sikh political party, Akali Dal, 
police officials said. 

The militants object to the recent peace accord with the central 
government, signed by a moderate Sikh leader. Sikh* have been 
agitating fix' greater autonomy from the central government. 

Troops were reported still inside the temple complex, guarding a 
party faction meeting called bv the moderate leader. Han-ftanri Smgh 
Longowal. Mr. Longowal had called a meeting of district party chiefs 
inside the temple complex to get support for the agreement with 
Prime Minister Rajiv Gandhi, The meeting began under heavy poBce 
guard after the disturbances were quelled. 

The clash flared when a bodyguard of Mr. Longowal fired shots in 
the air to disperse militant youths who surrounded the ddcriy leader’s 
car as it approached the temple hah. 


Until' recently, Mr. Gandhi's y id« said, the p ri m * minister was 

Sheikh Reports Failure on Hostages 


preacher and] 
tig men accused of 1 


of Akali DaL, the mam Sikh party, 

Gandhi 

Political ocmrniematots now say that these and other statements by Mr. 
Longowal were an attempt to establish credibility among the more 
mihtam Sikhs so he cook) assume the role of negotiator. 

A turning point came in May, when a leader of the radicals tried to gain 
control of die fractious Skit party. Mr. Longowal threatened to resign 
and won a renewed vote of confidence. 

The next month, when Sikhs marked wfaai they called Genocide Wedc, 
commemorating the first annivosary of the army raid on the Golden 


BEIRUT (WP) — Sheikh Mohammed Hussein Fadlaliab. a Shiite 
religious leader, said in an interview Tuesday that bis efforts to win die 
release of seven American hostages and four Frenchmen kidnapped is 
Beirut had been unfruitful, and he expressed fears that their fate might he 
beyond his control. 

Sheikh Fadlaliah is also believed to be the spiritual guide of the 
Hezbollah, or Party of God, a militant Shiite faction. He denies that he 
has this title or links to any faction, though he admits that he has special 
influence as a clerical leader. 

^ _ The hostages have been presumed to be held by milium Moslem 

Temple in Amnuar, their holiest shrine, the rir nvMmttHons wrre no^My organizations. Syria has made an effort to obtain the release of the 1 1 and 
peaceful two others, a Briton and an Iranian, in the Iasi week. 

Aides to Mr. Gandhi said tins was the signal he was waitingfor to begin 

To reach Mr. Longowal the prime minister tapped a respected coufi- U.S., Soviet Reach Air Safety Accord 

„ WASraKGTON (UPI) - n* Uniud Sm* OT the Syta U,i* 

down over Soviet territory in 1983. it was announced Tuesday. 

The announcement of the pact by Transportation Secretan- Elizabeth 
Hanford Dole did sot mention the KAL incident. Other officials, who 
asked not to be identified, said that the measure was dearly in response to 
the Soviet downing of the jetliner Sept. 1. 19S3. All 269 people aboard 
were killed. 

Mrs. Dole said that the agreement, which includes Japan, was reached 
in Tokyo on Monday. She tensed it “an encouraging step toward 
enhancement of the safety of civil air traffic in the North Pacific region.” 
She said when put into effect, the agreement will provide for a new 
communications network between air traffic control centers is .Anchor- 
At the same rime. Mr. Gandhi displayed a firmness, perhaps even age, Alaska, Tokyo and Khabarovsk, U.S.S.R- 
mthlesssess, in demanding that his Congress Party allies go along. 

Mr. Gandhi tbns found he could act with more latitude toward Sikhs, For wample^ tte duef nrinister of Haryana oppaed the loss erf r\ t * T> • 

bolstered by Ms election less than two months after the death of his Chandigarh to the Punjab.But the official had receotlybeea the focasaf iliatdbier tO Ignore Defeat Oil XUUS6S 
mother ’ corruption charges, and Mr. Gandhi was reportedly not above using this ^ ..... . . — . . 

fied himself with the cause of national unity, declaring that the Sikh The pnme monster still faces a balancing act to put the accord into Conservative governmenfs defeat onLhetssue in the House of Lords, her 

effect. He must placate allies who charge that he gave away too much and aides said Tuesday, 
worry about the inevitable complaints from Sikhs over interpretations ; 


Last fafi. after Prime Minister Indira Gandhi was assassinated and two 

Sikh security guards were charged, a cry for vengeance erupted and 
thousandsof Sikhs were killed by mobs in ' T " ' ’ * * 

northern India. 


lew Delhi and across much of 


By contrast, recent bombings in New Delhi and the crash of the Air- 
India Boeing 747 into the Atlantic, believed by many to be the work of 
Sikhs, brought revulsion. 


victims. 

While Mr. Singh began making secret contact, the potential deal was 
sweetened by the largesse that only a prime minister can offer. 

Mr. Gandhi agreed that the Punjab would receive no smaller a share of 
vital river waters than it does now and might receive a larger share. 
Punjab would also have side control over the sleek new capital of 

Chandi garh wreteari of sharing ft with Har yana 
In addition, Punjab’s boundaries would change to increase its propor- 
tion of Sikhs. Finally, Mr. Gandhi offered legislation to krt Mr. Longowal 
and bis allies eventually take more control over the revenues and 
resources of Sikh temples. 


party’s platform was secessionist. But in the accord worked out last week, 
he simply accepted Sikh assnranecs that it was not 


South African Forces Are Expected 
To Be Ruthless in QueUing Disorders 


By Charles Mohr 

New York Tunes Santee 

WASHINGTON — South Afri- 
can security forces are reasonably 
well trained, professional and ably 
led and can be expected to be ruth- 
less in hying to quell blade disor- 
ders or attempts at insurrection, 
according to U.S. experts. 

If the combined force of army 
“troops, reserves and police have 
'any weakness, these experts say, it 
may be a diminishing flow of reli- 
able intelligence from black infor- 
mants in the segregated African 
• townships during the state of emer- 
gency declared last week. This was 
once a notable strength of the secu- 
1 rity forces. 


At any given moment in peace- 
time, the number of armed services 
personnel on active duty totals 
about 82,000, according to Ken- 
neth Grundy, a professor at Case 
Western Reserve University in 
Cleveland who closely follows 
South African military affairs and 
is preparing a book on the subject 

To that number can be added 
about 44,000 policemen, all of 
whom have some paramilitary 
training. If all of the better trained 
military reservists, called the Citi- 
zen Force, were mobilized at one 
time, the aimed forces and police 
would total about 275.000. 

In additioa to these physically fit 
and well- trained units, nearly all 


Botha Criticized by U.S. 
For Barring Tutu Talks 


By Stephen En. 


stepr 

rw ?« 


New foik Times Service 

WASHINGTON — The State 
Department has criticized Presi- 
dent Pieter W. Botha of South Afri- 
ca for refusing to meet with Bishop 
Desmond M. Tutu, declaring that 
the crisis faced by South Africa's 
white minority can be solved only 
through talks with black leaders. 

The remarks marked the first 
time that the Reagan administra- 
tion had directly criticized Mr. 
Botha’s handling of the state of 
emergency. 


white Smith African males are 
members of local commandos; the 
word commando is of South Afri- 
can origin flnri recalls the citizen 
military units of the Boer Repub- 
lics that fought a losing but deter- 
mined war against the British at the 
start of the 20th centmy. These 
commando and police re- 

servists can be used in. an extreme 
emergency. 

‘Tew peoples are so besotted 
with history as the Afrikaners,” a 
US government official said, re- 
ferring to the Afrikaans-speaking 
whites, who are descended from the 
original settlers and who have had 
many political and economic dis- 
putes with the somewhat smaller 
English-speaking group of white 
South Africans. 

The history of the Afrikaners has 
“ridden on a wave of violence in 
which a terribly small number of 
Afrikaners defeated much larger 
numbers of blacks a British,” Mr. 
Grundy said. 

There are annual commemora- 
. tions in South Africa of such events 
as the battle of Blood River in 1838 
in which a few hundred Boers, their 
wagons drawn in a cow politically 


symbolic circle, defeated many 
thousands < " 


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In urging that the government 
meet with Bishop Tutu, the admin- 
istration also went beyemd previous 
statements that had not identified 
any particular black leaders a$ be- 
ing appropriate for talks. 

“We are disappointed that Bish- 
op Tutu's request for a meeting has 
not been favorably acted upon," 

Charles E Redman, a State De- 
partment spokesman, said Mon- 

believe South Africa's inter- "*? “? ils semri 7 ro ^“ “ 
ml stawon is such that a urceting ^ pnS ' 

“AmSSL are likely to tdl 
poitant blacfc leaders is imperative themselves, -We gutted it out in S 
Dialogue between the government ■. * * * 

sndh^auoo-s black leaders is the 

o^msu. of .he crisis South M ^ Stiltc y Dqanmmt md 
tire 1984 Nobel P* 3113 ® 011 m identical view. 


of Zulu warriors. 

The significance of this enduring 
military nostalgia, according to 
both official and unofficial Ameri- 
can analysts, is that the Afrikaner- 
dominated South African govern- 
ment and its security forces are 



Guerrillas 
Raid Kabul, 
ReportSays 


In an unexpected rebuff, the Lords voted, 140-135. Monday night for a 
Labor Party motion condemning die proposed increases of up to 36 
percent for 2,000 military leaders, judges and high civil servants. The 
move came wbDe teachers were bring offered 6 percent. 

Mrs. Thatcher's aides said the prime minister was intent on implement- 
ing the increases to make sure that people of the highest quality remained 
in public service. 

8 Named to Ugandan Ruling Council 

NAIROBI (WP) — In his first major move to rebuild Uganda's 
government. Lieutenant General Tito Okrilo named right members to a 

The Associated Press 
ISLAMABAD, Pakistan 
gii*n guerrillas launched a major 
attack with rockets and machme 
guns on the Soviet air base in Ka- 
bul over the weekend. Western 
sources said Tuesday . 

Western diplomatic sources, who 
iferiiniiH to be identified further, 
described the fi ghting & the heavi- 
est m the capitalm years. They said 
the fighting raged across the city 
and that Soviet femes retaliated 
with missiles and artillery. 

Lange guerrilla forces attacked 
Kabul airport and the adjoining 
Soviet air base Saturday night, and f 

Spain to Start Review on U.S. Bases 


ruling military council Tuesday. He then flew to Tanzania for a meeting 
— Af- with that country's president, Julius K. Nyerere, according to the Minis- 
‘ ■ try of Foreign Affairs in Dar es Salaam. 

At least one of General OkeHo’s appointees to the council a field 
commander in Uganda's five-year rebel movement, turned down the job, 
according to a Nairobi spokesman for the National Resistance Army. 
Rebel leaders, with an estimated 3,000 well-armed and experienced 
troops, complained Tuesday that they had not been consulted in the 
formation of the government. 

These moves came as relative calm returned to the Ugandan capital of 
Kampala, where nearly every store and office in the city had been looted 
since General OkeDo overthrew the government of President Milton 
Obote on Saturday. Pedestrians returned to the streets and some offices 
and shops were opened. There was, however, almost nothing in the a tv to 
buy. 


HELSINKI (Reuters) — Spain said Tuesday it wanted to start a review 
in October of the status of the four U.S. bases on ils soil to bring them 
into fine with the new strategic implications of Spanish membership in 
the North Atlantic Treaty Organization. 

Foreign Minister Francisco Fernandez OrddBez of Spain said George 
P. Shultz, the UJ5. secretary of state, had agreed during a half-hour 
meeting here that officials of both countries should meet in Madrid to 
draw up a detailed report on the base question, but that no date had been 
seL 

Mr. Ordrifiez and Mr. Shultz are in Helsinki to attend observances of 
the 10th anmversaiy of the Helsinki accords, which began Tuesday in the 
Finnish capital 


JAPANESE LANDSLIDE — Rescnre workers dog 
tirougjh mud and rubble Tuesday for 18 persons missing 
since a landslide buried a retirement home in Nagano in 
central Japan. At least eight persons were IdHed when a 
rain-soaked mountain slope broke loose on Friday. 


Africa faces. 

Bishop Tutu, 

Peace raze winner, was rebuffed 
when he called Mr. Botha and 
asked for an immediate mating 
Mr. Botha issued a statement that 
said his schedule was too heavy. It 
noted that Bishop Tuttrwas a part 
of a delegation of Anglicans sched- 
uled to meet with the president 
Aug. 19. 

A senior State Department offi- 
cial said that “this is a very danger- 
ous period. What we’re trying to 


But the same experts agreed with 
Mr. Grundy that the concept erf a 
citizen army “is a nice myth which 
the government would luce to re- 
tain, but which no longer has much 
reality.” 

-Much of this is due to the in- 
creasing professionalism of the 
South African Army, which mostly 
took place when Pieter W. Botha, 
now the president, was defense 
minis ter from 1966 to 1980. 

Under South African law, which 


Soviet Dissidents Call 
Helsinki Pact a Failure 


iSSSSS5?ff!fiSS35 

, _ „ _ system, almost all white males are 

■ Pretoria Recalls Envoy . . _ _ 

South Africa has recalled its am- 
bassador-designate to the United 
Stales. Herbert Buekes, for consul- 
tation, Reuters reported Tuesday 


By Cdestine Bohlcn 

Washington Peer Service 

MOSCOW — Naum Meftnan 
still keeps a copy of the 1975 Hel- 
sinki accords in a drawer of his big 
wooden desk. In the same drawer 

appealing Co'scmet officials for 
permission to join his riatqfttcr in 

emigration. 

Mr. Meiman, 74, can trace with 
tus own life the impact of the Hel- 
sinki Final Act on human- rights 


! odds, is a testa- 
ment to Helsinki, the group said. 

In the Soviet Union, officials, 
increasingly ready to take the of- 
fensive on human rights, cite a 
number of areas where Soviet soci- 
ety has opened up since 1975. They 
list, for iiwnnnft , the increasing 
numbers of Western pobficatioos, a 
rise in tourism, trade and foreign 
television programs, the earing of 
fees and procedures for visa appB- 
cations and more contacts between 


sources said. 

Islamic guerrillas arc fighting the 
Communist government of Af- 
ghanistan, which is supported by 
an estimated 1 15,000 Soviet troops. 

Western reporters are banned from 
Afghanistan, and reports from in- 
side the country cin rarely be con- 
finned independently. 

Guerrilla forces seized hilltops 
overlooking the Soviet air base m 
Kabul shortly after dark Saturday, 
the sources said, opening a rocket 
barrage against the base and Soviet 

garrison buildmgs and raking the Pop thp KPmrn 
base with fire from heavy readme U ACCUfU 

gnw«- 

Soviet forces replied with heavy 
sheffing and rqjeatedN fired salvos 
of m is s i l es from multiple rocket 
launchers, the sources sakL Kabul 
was rocked by machine-gun fire 
«nH exploding jdirflf they said, *wrf 
Soviet artillery kept. up a barrage 
for more thin eight hoars as fight- 
ing raged in and around die city. 

At dawn, Soviet helicopter gun- 
ships were sent to try to hunt down _ 

Thrust and Parry for Summit 

from winch the guerrillas had been " 


An hraefi was shot in die back and kffled Tuesday as he walked in 
central Nablus, tbe authorities said. The man worked at the military 
governor’s headquarters in the West Bank rity. (WP) 

President Li Xiannimi of China has finished the working portion of his 
10-day U.S. tour and is relaxing in Hawaii for two days before leaving 
Wednesday for home. (UPI) 

4. bffl to grant lead status to aBens now living and working illegally in 
the United States cleared the Senate Judiciary Committee on Tuesday bv 
a vote of 12-4. tfjpf) 


subject to conscription. Draftees 
must serve two years' activriduty, 
and about 24,000 men a year are 
drafted. 

They are trained, led and techno- 


policies in the Soviet Union. In the SoMet and foreign religious groups 


night from Pretoria. A government logically supported by what is 

i- called the Permanent Fo 


spokesman declined to give the rea- 
son. 



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orce, which 
totaled 29.300 men in 1983. Thus, 
the standing army at any time is 
about 77,000. 

But some of the Citizen Fence 
reserves are always on duty. By law 
such well-trained reserves are re- 
quired to serve 720 days, nearly two 
years, on active duty before retire- 
ment in their mid-50s. 

Much like tbe Israeli Defense 
Forces, whose soldiers in any mq'or 
war com primarily from the re- 
serves, these are not marginally 
useful troops but the heart of tbe 
South African aimed forces. In the 
invasion of Angola in 1975 and 
1976, many of tbe ablest units that 
went farthest into Angola were Cit- 
izen Force units. 

In the present crisis, as in past 
periods of tension, the Mack mem- 
bers of the police have increasingly 
had to move their Families out of 
segregated black townships to mili- 
tary compounds; they cannot legal- 
ly Eve in “white areas.” They have 
moved because black militants 
have increasingly begun to attack 
and kill people they regard as “col- 
laborators” or informers. 



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10 years since it was signed, he has 
watched as Soviet authorities 
crushed its promise for change: 

Mr. Meiman, a Tnarhfwiaticien 
and a Jew, is a survivor of the 
Moscow Helsinki Watch group, 
formed in 1976 to monitor Soviet 
compliance with so-called "basket 
three” provisions of the Helsinki 
acL Only one other member of the 
original group is stfil in Moscow. 

Tbe others are abroad, in prison, in 

labor camps or in internal exile. 

Now in the apartment beside the 
Moscow River, where be once held 
news conferences to document So- 
viet violations of the Helsinki 
agreement, Mr. Meiman is left to 
write ever-more urgent personal 
letters, asking for consideration of 
the acute cancer of his wife, Inna 
which he says can rally be effective- 
ly treated in the West. 

As the human rights picture 
darkened during the late 1970s, so 
did prospects for Jews such as Mr. 
Meiman to leave the Soviet Union. 

Despite the pledges in Helsinki 
for imlting family reunification 
easier, that door, too, has gradnaSy 
been drawing shuL Jewish emigra- 
tion has dropped from a high of 
51,000 in 1979 to 896 in 1984. Oth- 
cr ethnic groups emi grating — such 
as Volga Germans — have experi- 
enced a similar slowdown. 

In these and other key areas of 
human rights, the legacy of the Hel- 
sinki accords in the Soviet Union 
is, on the whole, seen as a dismal 


But to critics at home and 
abroad, the Soviet argument misses 
akey point In the years since 1975, 
freedom of movement freedom of 
thought and tbe free flow of infor- 
mation have, if anythin g, been cur- 
tailed. 

Since the 1975 ceremony at Hel- 
sinki, virtually all the xnaor figures 
of the Soviet human rights move- 
ments have been forcibly ushered 
off the stage. Many of these were, 
not coincidentally, members of the 
Helsinki Watch group, including 
Yelena G. Bonner, wife cl Andrei 
D. Sakharov, the Nobd Peace Prize 
winner, Yuri F. Orlov, founder erf 
the group, now in exile after 
seven years in a labor camp, 
Anatoli B. Sbcharansky, serving a 
10- year sentence cm charges of 
espionage. 

The wave of arrests of the Hel- 
sinki Watch members began in 
1977, 


from which the guerrillas 
firing, tbe sources said. 

The diplomatic sources had no 
information cm or whether the 
guerrillas had inflicted any sub- 
stantial losses on Soviet aircraft or 
unfitaiy forces at the base. 

Fighting erupted in the Afghan 
capital again the next night andthis 
time spread from northern to west- 
ern Kabul tbe sources said. Wit- 
nesses reported that government 
forces used tanka to tty to repulse . c t* firming up Moscow’s rda- 
guerriQa attacks, and Soviet forces tionsiup with dose friends in East- 
“ fired missiles at on Europe and opening up a nnm- 


(Continned from Page 1) 

continuing disagreement with Ber- 
ing. 

Moscow previously bad agreed 
to revive its aid program to reno- 
vate 17 Soviet-built factories in 
China and build seven new ones. 

“Qeariy, Gorbachev is injecting 
new vigor and energy into Soviet 
diplomacy,” said a U.S. official. 


petitions, they 

said. 

The m^ar attack Saturday came 
after several minor attacks earlier 
in the week, indading one on a 
Soviet military complex in which 
five Afghan government soldiers 
were Iriued when a rocket hit theft- 
guard bouse on July 23, thet sources 
said. 

Four guerrilla rockets struck or 
fell near the Soviet Emhasw in Ka- 


bul cm July 17, and rocket 

ers inside the embassy complex x, r /v f ~ ■ VL ’ — v 
were used to return the fire/ the Gorbachev is subtly reon- 

sources reported. foreign, pobey away from a 

In the Panjshir Valley, the KS’SJPi 01 ! 5* rdaCion - 
said, Soviet paratroopers ^ ^ United States. 


ber of other relationships to put us 
off balance. On arms control they 
want to play off sentiment in Eu- 
rope ana Congress to put pressure 
onus.” 

Specialists in Soviet affairs say 
they believe Mr. Gorbachev wants 
to tap the benefits of Western tech- 
nology, as well as slow down or halt 
Mr. Reagan's space-based defense 
against missiles. 

Jerry E Hough, professor of po- ^.^Soviet-U^. compethiott 

litical sdeacejnihjke University^ 

* ■ ■ - V” viet foreign polity and that Mr. 


that his replacement is an omen of 
impending shifts. 

He thinks the Gorbachev leader- 
ship is skeptical of the chances foe 
achieving political accommodation 
and economic cooperation with the 
Reagan administration. 

The administration's analysts 
are less pessimistic. They are in- 
trigued by the hints of Soviet flexi- 
bility in the arms control field and 
hopeful that pressures on Mr. Gor- 
bachev from the domestic economy 

will impel him toward moderation 
of die military buildup. 

But they also see signs of a hard- 
ened polity, especially in the more 
vigorous Soviet military campaign 
in Afghanistan, in incidents whoe 
Afghan fighter planes have pene- 
trated Pakistani airspace pursuing 
Afghan rebel bands, and in 
stepped-up military aid to North 
Korea. 

Nonetheless, U.S. officials be- 


so&rces 



policy. Professor Hough contends 


Gorbachev’s early maneuvers are 
preliminaries to the Reagan-Gor- 
bachev meeting. 

Tt looks to me as though Garbs* 
in a dual-trade 
__ be designed to 

bring pressure on us attbe sanml 
to make important concessions os 
an issue lie strategic defenses,” a 


U.S., Soviet Helsinki Statements Reflect Split 


(Continued from Page ]) 
tioos has convinced observers that 
they intend to have substantive 
talks on anns-control matters go- 
ing beyond the basically ceremoni- 
al characte r of the three-day con- 
ference. 

Mr. Shultz and Mr. Shevard- 
nadze woe among the first six of 


have taken of the Helsinki accords 
from tbe start. - 


The 


policy-making official said. 

For all its protests about Soviet 
disingemxxusncss on anas comrd 
the adnamsuaiion hsetf is (pacify 
at work to prevent a summit meet- 
rights within its borders and thus * n £ u ‘ i . l bout substantive apeemests 
remains a “yardstick" by which So- 0,0 ** anus-control deadlock 


«ie. Other countries in the Eastern ^ 35 foreign ministers who will 
bloc have had a slightly better re- address the anniversary session. 

The Helsinki Final Act, as' it is 

In a report on the agreement’s 
10th anniversary, the U5. Helsinki" 

Watch Committee concluded that 
while the situation remained grim 
in Easton Europe, “Tbe ferment in 
many of die countries in question 
has never been greater.” 

The efforts on behalf of human 


year ago deals with three separate 
thanes in three so-called "baskets” 
— one relating to security in Eu- 
rope; tbe second to economic, sci- 
entific and technological coopera- 
tion; and the third to human rights. 


cannot be broken. 

Officials have drawn comfort 
from the progress they reported » . 
the talks in Tokyo between Soviet, 
U-S and Japanese officials cm aa 
air-traffic agreement that would . ■ 
help prevent another airliner inci* 



1975. Gerald R. Ford agned for the 
United Stales and Leonid L Brezh- 
nev agned for tbe Soviet Union. 

Tuesday's speeches illustrated 
the con 
ed States 


viet actions can be measu red . 

The Soviet Union anno unced 
Monday that it would be gin a uni- 
lateral five-menth freeze on nucle- 
ar testing starting Aug. 6 and invit- 
ed the United States to join h. 

The Russians SEfciBS 

*5? ®nssieatly the American interest to join in Were that to be- achieved, it 

put the gratest emphasis on Euro- such a freeze. could lead to restoatkorfAeny 

President Reagan had invited the ni 8hts to the United States, as 
Soviet Union to send a team of , “ 201 agreement to open oa* 
expens to observe and measure a m New Ynrk and Kiev, 
nuclear test in Nevada. "Us <!«« diplomacy SBgpsn 


as 

postwar 

Europe. 

The primary U-S. interest has 
been in the human rights provi- 

tions which, according to U.* ofD- 



U.SL 

*K- C_.-- IT_: ._ i j «~*4E4 say we Stan toamo and 

Canons, they 1 
m g for a modes 


the Soviet Union commitment u> improvr" bimr^ relations! 


are 

star 


abas'* 







■Jj 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


Page 3 


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0 


By David Hoffman ' 
Waskbtgtut Pan Sernce 
WASHINGTON — President 
Ronald Heagaii refused Tuesday to 
reconsider 2ns rejection of tax ia- 
crrfjW or changes in Social Seairi- 
ty benefits, prompting Republican 
leaders to predict mat Congress 
would produce a sharply scaled- 
down reduction in the deficit this 
yean 

The House minority leader, Rob- 
ert Michel of minors, said after 
meeting the president with other 
Republican le gislat ors that Con- 
gress ’ws “obviously" gang to fall 
diortef the original target of a $50- 
bflHon deficit reduction this year. 

Representative Michd predicted 
approval erf a budget reducing the 
deficit about $40 teDion. 

However, Senator Pete V. Do- 
naan, the Senate Budget Commit- 
tee ^awwian, said: “Any chance 
for this year getting a real, signifi- 
cant, itfiabk, credible deficit-re- 
duction package is gone.” 

The Senate majority leader. 
Robert J.Dole of Kansas, who was 
critical of Mr. Reagan's decision to 
oppose an oil import fee and Social 
Security benefit delays, did not 
show op for the meeting with the 
president. He and other Senate Re- 
publicans expressed anger at Mr. 
Reagan’s refusal to support their' 
deficit proposals. 

“I think fa a while, at least,” 
Senator Dole said, “there’ll not be 
too many Republican senators lis- 
tening to pleas from the White 
House on anything.” 

■ Defense B31 Delayed 

The House Democratic leader- 
ship Tuesday delayed until Sep- 
tember any floor vote on a bill 
authorizing Pentagon spending for 
the not fiscal year. The Associated 

Press reported. 

The House speaker, Thomas P. 
O’Neill Jr. of Massachusetts, arid 
that “there were a lot of feathers 
ruffled out there” among House 
Democrats upset about conces- 
sions made to the Senate during a 
House-Senate conference commit- 
tee. 

The Senate, meanwhile, ap- 
proved compromise legislation au- 
thorizing $12.7 bflliaa in foreign 
aid for each of the next two years 
and providing for the resumption 
of direct U5. assistance to the anri- 
Sandinist rebels in Nicaragua. 

The legislation was sent to the 
House, where passage would mark 
the first time Congress has agreed 
on foreign aid up ending authority 
in four years. 


AMERICAN TOPICS 



STILL GROUNDED — The Trans World Airlines plane that was hijacked last month 
to Beirut and Algiers remains on the tarmac at Beirut Intenutioml Airport 


^ewCoflar’ Voters: 
Hie Fickle Gass 


Anew! 
don that 


is that of die “New Collar” voter, 
according to Ralph Whitehead 
Jr_, professor of public service at 
the University of Massachusetts. 

The New York Times quotes 
Mr. Whitehead as saying that 
New Collar voters are Middle 
Americans, the offspring of bhic- 
coflar America. They are mostly 
under the age of 45, malting 
$20,000 to $40,000 a year a fam- 
ily. They tend to be politically 
independent and ideoloocaT 


They voted overwl 
ingly for Ronald Reagan in 1984. 
They are heavy television view- 
ers, preferring football and light 
entertainment. 

New Collar voters form 
roughly IS percent of the nation- 
al efectaraie and lead all voters 
in ticket-splitting. They differ 
from their blue-collar parents in 
that they are difficult to 
in campaign politics or political 
organizations. 


Short Takes 


of St 


Arthur and Debra T( 

Louis, Missouri, were 
on the Trans World Airlines 
flight hijacked last month. When 
they asked the art™ if their ex- 
tra flights to Algiers and Beirut 


during die hijacking would be 
credited imder TWjVs “frequent 
flier" program, TWA said yes. 
The *wiin* i ndicate^ that other 
hostages on the flight would be 
sumlany credited. The credits 
are used to obtain free flights. 

The biggest single error in law 

enforcement in decades has been 
taking policemen off the beat 
and putting them in paired cars, 
according to Thomas Rcppeuo, 
president erf New York city s Cit- 
izens Crime Commission, a 
watchdog group organized by 
b usine ss men . “Police lost con- 
tact with the public, particularly 
young people;” Mr. Reppetto 
said. The pofioeman walking the 
beat “has been government's an- 
swer to urban violence far 100 
years, and should be again.” 

At least six employees of The 
New York Times Co. contracted 
symptoms of Legionnaires’ dis- 
ease and 23 others reported res- 
piratory problems before the 
nnthrwiic gi^wdwH, company of- 
ficials say. According to Dr. 
Howard Brown, The Tunes’s 
medical director, 29 cases of res- 
piratory illness have been diag- 
nosed among workers in the 
news pap er’s nridtown Manhat- 
tan bunding mid-June; 

When H mi w SbmI met the 
press after being elected last 
week as president of die Nation- 
al Organization for Women, she 
put her arms around her hus- 


band, Charles, and their two 
children , “ fanmim aren’t sup- 
posed to do this sort of thing,” 
she pu4 , etthIitio Born Eleanor 
Marie Cutri, die uses her hus- 
band’s name. But Molly Yard, a 
friend of the Snwak in Fairfax, 
Vir ginia, said, “Charlie does 
most of the cooking. Ellie would 
just as soon never cook another 
meal in her life.” 

Diana McLeBan, who has been 
writing the whimsical gossip col- 
umn called “Eat" far 10 years, 
first for (he defunct Washington 
Star, then for The Washington 
Post and now for the Washing- 
ton Times, is quitting to become 
Washington editor at The Wash- 
ingtonian magazine. Asked why 
she was ending her successful 
m h imti she said she remem- 
bered that Igor Ctmsini t long- 
time New Yak columnist, said 
you go nuts after five yean of 
writing B gOSSip onlnmn. “As for 
me/’she said, *Tve loved doing 
it, but 10 years was long 
enough.” 

Shorter Takes: In the 
year 14 of the SO states 
adopted mandatory automobile 
seat belt laws; similar laws are 
pending in ning other states. . . . 
Births nationwide increased 
slightly last year, from 3,618,000 
to 3,690,000, after falling slightly 
the previous year, but demogra- 
call it only an echo of the 
boom of the 1950s. 

— Ci 
ARTHUR 


Rape Lawsuits: Seeking to Legislate More Caution 

Victims Sue Landlords, Employers Who Could Have Prevented Attack 


By Saundra Saperstdn 

Washington Peat Seni or 

Washington — a growing 
number of women are responding 
to rape by fifing lawsuits, not 
against thetr attackers but against 
those whose negligence may have 
contributed to the crime. 

Hut have sued owners of apart- 
ment buildings, holds and busi- 
nesses far fiuungto provide ade- 
quate security. They have sued 
employees who hired applicants 
with serious criminal records for 
jobs that require dealing with the 
public. 

“While the criminal justice sys- 
tem woks to deter the assailants, 
the civQ system tries to deter the 
dangerous conditions that foster 
crime, whether in the workplace, 
the apartment, a bar, a restaurant 
a a hotel,” said an attorney, EDen 
Canon, who has represented sever- 
al victims. “When landlords have 
to balance a tmOion-doUar judg- 
ment against a few dollars for 
locks, maybe they’ll think harder 
about security.” 

The publicized case that galva- 
nized the present efforts was won 
by the singer Connie Francis in 
1976. She sued Howard Johnson’s 
Mods after die was terrorized at 
gunpoint for two and a half hours 
and raped by a man who broke into 
her suite at a motor lodge in West- 
bury. New York. 

Her attorney successfully signed 
that the doors had inadan na if 
locks, which could be opened ‘frith 
a little ifegli og.” She was awarded 
S2i million by a jury, and settled 
for about $1 5 million instead of 
fighting an appeal 

The women do not claim that the 
defendants in these cavil suits di- 
rectly had a hand in the crime or 
intended any harm. Bat more jmies 
are ruling that defendants should 
have anticipated what mi ght hap- 
pen as a result of hiring or deci- 
sions that pit security against oosl 
Failure to take reasonabtepreven- 
tive measures can be negligence. 

In 1980. an Indiana jury award- 
ed $800,000 to an Avis car rental 
agent who sued the company after 
being raped by a fellow employee 

ceil^TSSSoO settlemenrafter 
bong raped by the same man. 


According to Buddy Yosha, law- 
yer for the victims, the man had 
been convicted of assault and bat- 
tery and charged with raping a col- 
league at his previous job. 

After being hired by the rental 
agency, other employees com- 
plained that he was violent. The 
man was moved to the night shift, 
where one of his duties was driving 


scene to get money far 
lilfi* this Then the landlord 
her for two months of rent after she 
decided to move. 

She said she wanted to post signs 
cm tbe door to warn people that the 
apartment was unsafe. “All I could 
think of is they rented to another 
person,” she said. “What’s gang to 
happen to them?” 


'While the criminal system works to deter 
the assailants, the civil system tries to deter 
the dangerous conditions.’ 

Ellen Carson 
attorney 


MEMORIAL SERVICE 


MANDYLAWTHER 

A memorial service for 
MANDY LAWTHER 
wfll be held at the 
American Cathedral, 

23 Avenue George V, Paris, 
at 6 pm on Thursday, August 1st. 


female employees to their cars, Mr. 
Yosha said. 

In 1983, an minois jury awarded 
$200,000 to a woman who was 
raped on a Chicago Transit Au- 
thority tram when an assailant 
dragged her into an unused motor- 
man’s compartment. 

Her attorney, Kevin Conway, 
said a study had recommended that 
the unused compartments be 
closed became “criminals could 
conceal themselves from those they 
were about to prey on." 

The transit 
but the judgment was 

In Jamuuy, a Texas jury awarded 
needy S5 million to a Mexican 
wotzian and her two young daugh- 
ters. Hie woman was raped and her 
3-year-old child held at gunpoint 
by tbe driver of a Fort Worth cab. 
According to her attorney. Broad us 
Spivey, the driver had been con- 
victed of armed robbery and 
charged with assault with intent to 
co mmi t rape before he was hired, 
but the Fort Worth Cab & Baggage 
Co. never checked his record. 

In May, a superior court jury in 
the District of Columbia awarded 
$250^00 is damages to a 10-year- 
old who had been lured out of an 
unsopervised classroom at Maty 
Pl ummer Elementary School and 
raped. Her attorney, Patrick 
Christmas, argued that the district, 
through carelessness, “took away 
her childhood” by failing to pro- 
vide adequate security in a tugb- 
crime neighborhood. Lawyers Tor 
the district have filed a motion for a 

new triaL 

According to a prominent attor- 
ney for rape victims, more than 350 
of these victim lawsuits have been 
filed nationally since 1970, many of 
them by victims of rape. 

One' woman who received an 
out-of-court settlement of $100,000 
after being raped by a man who 
broke into her apartment in Wash- 
ington said she was reluctant 10 sue 
at first, thinking that “it was ob- 


That is a motive many tape vic- 
tims share, said Ann Burges, a 
psychiatric nurse and Umvenfryof 
Pennsylvania professor who has 
treated rape victims. 

Filing a lawsuit also can make 
the victim, “rendered helpless and 
powerless” by the attack, feel in 
control again, according to the 
University of Pennsylvania profes- 
sor. 


There are mixed reviews, howev- 
er, on whether the suits are having 
an impact on security. An official 
at an apartment-management com- 
pany in Washington said his firm 
was already security conscious, and 
he questioned whether tenants 
were careful to lock their apart- 
ments. 

Charles Fritts of the National 
Apartment Association said land- 
lords “are going to respond to the 
law as it is in their jurisdictions. 
They will do what they have to do.” 

Lawsuits against businesses for 
negligent hiring are filed less fre- 
quently than the landlord cases, 
but they, too, are haring an effect. 

Lawyers say the employers “are 
in a ‘damned if you do, damned if 
you don’t’ ” position when decid- 
ing how deep to drive into an appli- 
cant’s background. Employers may 
ask about criminal convictions, but 
under privacy laws they may not 
ask about previous arrests. 

Under current law, there is no 
general expectation that employers 
trill check criminal records. But 
employers are being held more and 
more responsible for things em- 
ployees do if management could 
have reasonably anticipated it, an 
attorney said. 


0°/c 


Can be Interesting 
0 Invest in People! 


Over 30% unemployment in a country rich in 
hardwood and a tradition of craftsmanship. This is 
Jamaica. The St. Andrews vocational training project 
in Kingston trains unemployed youth m carpentry and 
later in business management skills. To encourage 
enterprise, a Revolving Soft Loan Fund will be set up. 

Co-operation for Development, a British private 
voluntary agency, bridges the gap between training 
and work by linking training to job creation and new 
enterprise. The St. Andrews Settlement in Kingston is 
one example of how Co-operation for Development 
mobilises large-scale resources for small-scale projects. 


You Can Help Through: 

* Grants, loans , local currencies 
*■ Gifts of shares, property and know-how 


If you wont to help, please write to: 
Terry Lacey 

Co-operation for Development 
21 Germain Street, Room 631 
Chesham. Bucks HP51L8 
Tel 0494-775557 

United Kingdom + 44 494 775557 



ctHrtBaoNtrBB U c —nr 


Shuttle Crew Faces Problems With Tests 


Rouen 

CAPE CANAVERAL. Florida 
— Astronauts aboard the U.S. 
shuttle Challenger, after the failure 
of a mam engine minutes after 
launching Monday, encountered 
new problems Tuesday with as- 
tronomy experiments that they are 
ctying to carry out in space. 

The Challenger, with the Euro- 
pean-built Spacelab aboard, 
reached a lower-than-pianned orbit 
Monday after one of its three main 
engines failed six minutes after 
takeoff from Cape Canaveral. - 

It was the first major engine mal- 
function on ascent in 19 shuttle 
missions, Officials of the National 
Aeronautics and Space Admans- 
nation that tbe Challenger 
came within 33 seconds erf having 
to make a forced emergency land- 
ing at n US. nnliuuy hase in Spain. 

After weathering the crisis, tbe 
Challenger's seven-member crew 
turned to tbe task of transforming 
the space ship into a flying astro- 
nomical observatory. 

Tbe Spacelab, a 34-foot-long 
(10-meter-long) laboratory an- 
chored in the Challenger's open 
bay, was smoothly activated 
iy Tuesday but attempts to op- 
erate its telescopes and other scien- 
tific devices, known as the Instru- 
ment P ointing System, ran mta 
serious obstacle. 

Jesse W. Moore, head of the 
shuttle program for NASA, said 
after Monday’s engine failure, “We 
are pretty optimistic about achiev- 
ing all (lie goals of tbe mission." 

Ground controllers at one point 
called an “abort to orbit” 

The shuttle managed to achieve a 
noncircular orbit that was about 
170 miles (274 kilometers) at its 
highest point about 70 mfles short 
of itsgoal of about 240 miles. 

Officials said tbe orbit was high- 
enough so that it would not force 
the shuttle to re-enter Earth's at- 
.mospbcic unexpectedly. 

Mr. Moore later played down the 
problems, saying “abort” was too 
strong a word to describe tbe 
events. “We ought to purge the 
words ‘abort to orbit’ as long as we 
get into orbit," be said. 

Jade Kroehnke. a NASA spokes- 
man, said later “We’re facing more 
glitches than ve had expected at 
this point, but we should be able to 
iron them out in a reasonable peri- 
od of time.” 

NASA officials said that the 
chief problem was a malfunction in 
a 560-million West German-bid t 
telescope aiming platform that 
controls three solar experiments 
and an atmospheric measuring de- 
vice. 

The testing of the platform is 
regarded as a crucial objective of 
tbe seven-day ntissioo. The device 
is 10 be used again , next March 
when shuttle astronauts study Hal- 
ley’s comeL 

Astronauts aided by advice from 
technicians on the ground also 



ft* AtMUAtf hfl» 

Jesse W. Moore, director of the U-S. space shuttle program. 


Pointing System wj> stowed and 
locked in the Challenger’s cargo 
bay Tuesday after the shuttle’s 
crew failed to lock the system onto 
the sun following at least five at- 
tempts in orbit. 

A filter on the West Gertnan- 
built IPS was Idling in too much 
light at (he same time a pair of 
gviwcopes were allowing the sys- 
tem to drift in two of three axes at 
rates that w ere unacceptable to (he 
crew. 

The IPS was nuking its maiden 
voyage m space to help aim four 
telescopes at specific regions of the 
sun to get what still is hoped to be 
an unprecedented cloeup look at 
sunspots as (hey form and at the 
superheated corona that surrounds 
the sun’s surface out to a distance 
of one million miles. 

“If (he IPS doesn't work, the 
whole mission to Halley’s comet is 
down the drain.” said Leon Alien. 
Halley's romei mission manager, 
from the Marshall Space Flight 
Center in Huntsville. ALibama 


were trouble-shooting mechanical 
problems on two solar projects 
aboard the Spacelab. 

NASA scientists remained con- 
cerned that tbe Challenger’s failure 
to reach its planned mbit would 
prevent the mission from achieving 
some of its scientific goals. 

The Spacdab’s $78-miflion ex- 
periment package is to be used to 
study the sun, probe Earth’s atmo- 
sphere and scan neighboring galax- 
ies for signs of “black holes," or 
hypothetical collapsed stars with 
sniiH diamet ers a™ intense gravi- 
tation fields. 

Tbe shuttle has a flight path 
about 195 miles above Earth, 45 
miles short of its initial target. 

The shuttle is scheduled to land 
Aug. 5 at Edwards Air Force Base 

. Catifc 


in 


forma. 


■ Other Mission Problems 
Monday’s liftoff was delayed for 


neaiiv two hours when a naviga- 
tional device on one of the shuttle's 
two solid-rocket boosters failed. 
The New York Tunes reported. 

Before that, the Challenger's 
mission had been delayed until 
Monday because of valve prohlems 
in a different engine, the No. 2. 
more than two weeks ago. 

Asked if the problems w ould re- 
flect poorly on the space a genes. 
Mr. Moore said “the system exhib- 
ited its design capability" in coping 
with the engine failure’ 

Later this week, the astronauis 
are 10 release and later retrieve a 
small scientific satellite 10 help un- 
derstand tbe effects of solar winds 
on Earth's atmosphere. 

■ Problems With Instruments 
Thomas OToole of The It asking- 
ton Post reported from Cepe Canav- 
eral: 

The $60-mi]]ion Instrument 


No Sales Yet Under U.S. Plan 


(Continued from Page 1) 
flour. We’ve got to try to make it 
work." 

Mr. Amstutz said that tbe Agri- 
culture Department would make 
more subsidized sale offers, target- 
ing markets where the United 
States deems that it faces unfair 
competition, but he declined to 
name countries or commodities 
that would be involved. 

Altho ugh tbe administration had 
resisted such a program for 
months, it bowed to Senate pres- 
sure last spring and agreed to go 
along in renun for support by 
farm-state legislators for a compro- 
mise congressional budget resolu- 
tion. 

Mr. Block, calling tbe program 
“not good policy.” said that surplus 
government-owned commodities 


would be given away as bonuses for 
buying American farm products. 
The U.S. products would be pur- 
chased in the United Slates at 
American prices, then offered at 
lower, competitive world prices 
with the surplus goods making up 
the cost difference. 

Capitol Hill pressure for more 
action by tbe administration on 
farm exports has continued, how- 
ever, and both the House and Sen- 
ate Agriculture committees are 
writing variations on export-subsi- 
dy schemes into the farm bills they 
are preparing. 

Most of the congressional con- 
cern stems from the deteriorating 
export picture, which has seen U.S. 
safes fall from a peak of 543.5 bil- 
lion in 1981 to an estimated $33.5 
billion this year. 


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Page 4 


■WEDNESDAY, JULY 31, 1985 


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Pnbfoiwd TUi Tbo N*v York Tino and The YoUiigtoa Po*t 


A Failure of Leadership 


• 'In an astonishingly reckless act. President 
Reagan has demolished the Republican sena- 
iors' plan to cut the budget deficit Mr. Reagan 
did not like the oil tax or the temporary crimp 
in Social Security benefits — the two elements 
that made the senators' proposal a serious one. 
Political tradition holds that it is the presi- 
dent’s job to lead the way toward a budget, but 
Mr. Reagan wants Congress to do iL He de- 
clines to take the initiative. This is leadership? 

When Mr. Reagan took office the deficit 
was approaching 580 billion a year. Now. in 
the fifth year of his presidency, it is running at 
about $210 billion. Last summer there was talk 
from the administration about a big push, once 
the election was over, to get the deficit down to 
manageable proportions — meaning less than 
5100 trillion, where it had been in the Carter 
years. But the election has come and gone. 

The budget that Mr. Reagan proposed last 
February for next year called for a deficit 
down, (slightly) to S18Q billion, and even that 
figure was based on a forecast of rapid eco- 
nomic growth. On Monday the White House 
reduced its growth forecast, and tins is not 
likely to be the last reduction. Lower growth 
means lower tax revenues and higher deficits. 
If you correct the February estimates with the 
growth rales that now seem probable, you see 
that the Februaiy budget implies deficits of 
over $200 billion for the next three years. 


When the tax cut was being passed four 
years ago the administration argued vehe- 
mently that deficits would drop to zero be- 
cause the lower tax rates would set off a 
gigantic surge of savings, investment and eco- 
nomic growth. All of that has turned out to be 
dead wrong. The indicators of savings, invest- 
ment and growth have all been approximately 
the same under Mr. Reagan as under Mr. 
Carter, or somewhai lower. Meanwhile the 
budget deficit is creating its counterpart 
abroad — a ILS. foreign debt that by the end 
of the year will be larger than Brazil’s or 
Mexico's. As the Brazilians and Mexicans can 
testify, when foreign creditors decide that it is 
time to pay it will mean a sudden, severe drop 
in standards of living. Then the United States 
will have to go to work to make its debt 
payments through export industries weakened 
by years of overvalued exchange rates. 

Spending cuts alone will not suffice to get 
the budget deficit under control. It is going to 
take a tax increase. As long as Mr. Reagan 
continues to oppose all tax increases, he is 
opposing all significant remedies for an Amer- 
ican economy that is now running dangerously 
out of balance. He no longer offers a strategy 
of his own for dealing with the defied L But that 
does not deter him from blocking the strategies 
that others courageously put forward 

— THE WASHINGTON POST. 


How to Make the Best of a Bad Situation 


N EW YORK -—With the most imaginative 
idea yet offered by the leader of a debt- 
ridden Law. American nation. Pern's new presi- 
dent has ponied a possible way oat of the 
region's dangerous debt crisis. The plan avoids 
both extremes', default, ot years of extreme eco- 
nomic austerity threatening political Upheaval. 

Alan Garda Perez may have given U.S. banks 
an opportunity they faded to create for them- 
selves to pm Latin America's more than S350 
trillion in foreign debt on a sounder long-term 
basis — a less profitable arrangement, bat one 

Garda's debt plan would give 
Peru the ability to pay from 
its own resources, although 
over alonger period of time. 


ayment without bank- 
’ : frail democracies. 


more likely to bring 
nip ting die debtors or !_ 

iday i 

continue to repay its 514-biUion external debt 
but would limit payment in the next year to 10 
percent of its export earnings. Moreover, he said. 
Fern would make its repayment arrangements 
directly with its creditors and without the partici- 
pation of the International 'Monetary Fund. 

The IMF pattern in dealing with Latin debtors 
tike Mexico. Brazil and Argentina has been to 
demand strict austerity measures in return for 
making or guaranteeing new loans to bdp these 
countries finance principal and interest pay- 
ments. In one Latin country — the Do minican 


By Tom Wicker 

Republic — austerity measure already have pro- 
duced rioting and threats to the government 

Latin American specialists fear that sust ained 
economic austerity in Brazil, Argentina and 
Mexico could threaten political stability in those 
important nations and undermine U-S. relations 
throughout the hemisphere. Alternatively, one or 
all of them might be led to default, with disas- 
trous effect on the U.S. banking system. 

Moreover, tire debt restructurings for which 
austerity programs have beat the price result in 
banks lending debtor nations more money at 
high interest to make principal and — mostly— 
interest payments on what they already owe. The 
consequence is that these loans remain “current'’ 
cm the banks' books, and so their profits are 
not affected. But the debtor countries, wink 
saved from default, end up owing more than they 
did before the restructuring. 

Meanwhile, austerity measures — high inter- 
nal interest rates, reduced government spending, 
increased taxes and wage restraints — and huge 
outflows of capital to foreign banks hold back 
economic expansion in the debtor nations, and 
hence their ability to repay what they owe with- 
out further costly restructuring. On tins course, 
plainly, the prospect is for permanent debtor 
states and economic stagnation in major Latin 
nations, or for political upheaval in protest, or 
for default — or perhaps all three. 

Mr. Garcia’s plan to limit external debt pay- 
ments to 10 percent of external earnings would 
give Peru tire ability to pay from its own re- 
sources, although over a longer period of time. 


By curtailing tire shipment of capital abroad, by 
making it unnecessary to borrow more to repay 

1 ; 1 j.. j U.. „w4!nn rha itu-icj 



pons, thus wihanring its ability to pay its debts. 

Pern’s foreign debt is a relatively small pan of 
tire Latin total; but if Mr. Garcia prevails on U.5. 
and other banks to accept his plan — and bv 
refusing they would as likely force him to default 
frrr^uy of amnestic pressures as force him to a 
conventional IMF restructuring — these larger 
debtor nations will almost surely follow his lead 
His tough approach may thus produce a more 
enlightened response than has yet been seen from 
U.S. banks ana the Reagan administration. 

With a p p r op riate government guarantees for 
loan principals and regulatory relief for the 
short-term losses they would differ, the banks 
could reduce tire interest rate they charge the 
debtor nations and stretch out short- and mid- 
term loans to 25 or 30 years. A reduction from 
13- to 6-pereeni interest on $350 billion would 
save these nations more than $20 billion a year to 
be invested in their economic expansion. 

- Not only would the loans ana probably the 
debtors’ political stability be made more nearly 
secure, but tire United Stales, as benefactor rath- 
er than an eco n omic exploiter, would be reward- 
ed politically throughout the hemisphere, to the 
ultimate good of banks and tire overall economy. 
But forcing Peru to repay in full and on schedule, 
even if it has to borrow more at high interest and 
handcuff its economy to do so. would be to the 
advantage of no one but those like Fidel Castro 
who preach default and defiance of tire gringos. 

The New York Times. 


Another Ugandan General They Meant Well, but the Dilemma’s All the Worse 

, . , ® , . ... TT 7ASHINGTON — Among doz- Bv David S. Broder Churchill to break the secrecy on i 

ida has become a metaphor for every- norm of respect for national borders, but VV ms of articles for tire 40th an- 3 project and tell the Soviet leadersh 


. Uganda has become a metaphor for every- 
thing that has gone wrong in Africa: violence, 
suffering, poverty, misgovemmeni. Need it 
have been this way? From the British. Ugan- 
dans took over a country better suited than 
most others in Africa to make it on its own. 
Tribal antagonisms, however, have so far 
raised insuperable hurdles to coexistence, let 
alone amity. A whole nation’s prospects have 
been ravaged. In the years of independence, 
hundreds of thousands of Ugandans have been 
killed — by soldiers, rebels and brigands, by 
guns and starvation. Continuing unrest en- 
sures that the toll will mount higher stilL 
Uganda has been cursed by the quality of its 
leadership. A civilian, MDton Obote, ruled 
arbitrarily in the 1960s. A general thought by 
many to be a likely savior, Idi Amin, seized 
power in 1971 and turned out to be a murder- 
ous monster. Mr. Obote returned to power at 
the end of the 1970s with tire bdp of rebel 
forces and an invading Tanzanian army. The 
Tanzanian intervention broke the African 


norm of respect for national borders, but 
seemed to be accepted in Uganda and by most 
African governments as the lesser eviL 

In his second go, Mr. Obote was sadly 
unable to heal tribal wounds or contain the 
brutality of his undisciplined army. He has 
been ousted by a general, Tito Okeflo. Confi- 
dence in tire new leadership is not heightened 
by the fact that, from exile in Saudi Arabia, Idi 
Amin has hailed the coup and pronounced 
hims df “ready to rescue Uganda." 

Many Ugandans may believe that their 
country needs a strong ruler to restore a sem- 
blance of order. This is the rationale for a new 
coup — and the basis for the nostalgia for Idi 
Amin that is reported to exist in some sectors 
of society. Bui can a new leadership find the 
touch for tribal politics that has been lacking 
for so many years? Therein lies what hope 
exists for Uganda to turn away from its sdf- 
destructjve course and start taking real advan- 
tage of its substantial economic potential 
— THE WASHINGTON POST. 


Documented and Recalled 


In America, courts 3re asked to settle ques- 
\tion5 about almost everything, even history, 
and now a Los Angeles case has in effect 
determined that, yes, (be Holocaust did take 
place. For anyone to deny it is a transcendent 
obscenity of our time, yet (hat is just the 
position of an organization called the Institute 
for Historical Review. It offered a $50,000 
reward to anyone who could prove that the 
Nazis gassed Jews, but then had to be sued by 
an Auschwitz survivor who did so prove. 

In settling tire suit, the institute has finally 
agreed to pay, but not to accept Its director, 
Tom MaroeUus, says, “We did not have to 
compromise any of our positions.” He still 
cannot see “any kind of evidence” that Jews 
were gassed at Auschwitz. 

Coming to grips with the extermination of 
minions has taken generations. It has not been 
enough to expose those who ran the death 
camps as aberrant monsters. They were mon- 
sters, surely, and over time society has found it 
easier to acknowledge that they were human 
monsters. What made them so may thus lie 
latent in all of us. To keep the reverberating 
pledge. Never Again!, mankind needs to un- 
derstand. To understand, it must confront, 
unblinking, the fullness of the Holocaust. 

. Why are people like Mr. Marcdlus and his 
colleagues so determined to deny history? The 
world does not lack for bones and ashes, files 


and witnesses. Even after 40 years, the night 
does not lack for silent screams. 

Beyond that, the years have also brought 
other kinds of testimony. In The New York 
Times last week. Rabbi Susan Schnur told of 
once staying at a friend’s house. In the middle 
of the night, the father “came padding down 
into the room. Obiivious of me, he went into 
the kitchen, cut himself a slab of rye bread” 
and then stood with iL in the dining room. 
“ *Chleb.’ be said finally, thrusting tire bread 
into the air. ‘Broil’ — he held the bread against 
his pajama pocket ‘Pane’ — he shook it ‘Le- 
chem’ — kissed it ‘BreacF — took a bite. This 
he did over and over saving the word in more 
languages than I could imagine existed . . He 
seemed sometimes, on an ordinary morning, 
almost stunned by the fierceness of his happi- 
ness Jle was, it seems now, exhausted by his 
blessings ... He was a Holocansl survivor.” 

It is not hard to imagine bow Mr. Marcdlus 
might respond: “That’s not even a horror sto- 
ry, just a sentimental anecdote. Doesn't prove 
a thing.” True, it is not a story of horror. It is 
something far more moving: a story of grati- 
tude, a gratitude so profound that it wakes a 
man in the middle of the night to embrace a 
piece of bread. And in that gratitude. Mr. 
Marcdlus — had you the eyes to see it —yon 
would find your proof. Living proof. 

— THE NEW YORK TIMES. 


Other Opinion 


A Warning to Heed From Fima »» the attention to the problems of the 

o resnon (outside Central America^ naid bv the 


■ [President Alan Garda’s] inauguration on 
Sunday was attended by an impressive group 
of democratically elected Latin American 
heads of state, and such a handover has not 
been seen in Peru for a very long time. But 
circumstances in that country and in Latin 
America are such that this was necessarily a 
restrained and sober occasion. 

There is certainly a Latin American consen- 


region (outside Central America) paid by the 
Reagan administration has been wholly inade- 
quate. Later this week in Havana. Fidd Castro 
will expound to an alternative meeting of Lat- 
in American political leaders and intellectuals 
his own more drastic and less Western : 
tions on how to deal with [the debt] crisis. ' 
declarations from Lima come from more re- 
sponsible persons. They deserve attention. 

— The Tones (London). 


FROM OUR JULY 31 PAGES, 75 AND 50 YEARS AGO 


1910: A Wall Street Cashier Owns Up 
NEW YORK — Erwin Wider, cashier of the 
Russo-Chinese Bank, who admits having sto- 
len securities valued at $680,000. says he took 
them because his salary of SU0Q a year was 
too small to permit him to live as his friends 
did, and Wail Street looked easy." Wider, 
who is now in jail, had sent this letter to the 
Bank: “I might as well tell you that in a few 
days 3.200 shares of Pennsylvania Railroad 
stock will have to be shipped to the National 
Bank of Berlin. You won’t find them, as I took 
them. You will also find a large number of 
shares of other stocks missing. I meant to put 
them back, but the market went against me. It 
was all your own fault anyhow. You should 
not pul one man in charge of everything from 
A to Z.” The letter led to Wider’s indictment. 


1935: An Anti-Aircraft 'Mystery Ray 5 

NAVESINK, New Jersey — Army Signal 
Corps workers in the closely guarded Nave- 
sink Highlands lighthouse are reported to have 
developed a “mystery ray” capable of detect-, 
ing enemy airplanes and ships at a distance of 
more than fifty miles. A score of Coast Artil- 
lery officers arriving at (he lighthouse, one of 
the most powerful along the Atlantic sea- 
board, gave rise to the report [on July 30] that a 
test would be made this week. It is understood 
that tire Signal Corps has spent $100,000 on 
the project. The War Department has declined 
to comment on the ray and all outsiders are 
being kept at a distance from the invention, 
which, in the words of one Army officer, 
should, if successful, “revolutionize air war- 
fare.” and prove deadly to an attacking fleet. 


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JOHN HA Y WHITNEY, Chairma n 1958-1982 
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© 1985. International Herald Tribute. All rights reserved. 



W ASHINGTON — Among doz- 
ens of articles for the 40th an- 
niversary of the nuclear age, one has 
particularly touched me. An essay in 
the Bulletin of tire Atomic Scientists 
by a Tufts University history profes- 
sor, Martin J. Sherwin, has a human 
message that is captured in its ironic 
title: ^How WdJ They Meant" 
“They,” in this instance, are the 
scientists of the Manhattan Project 
who and carried out the 

stupendous feat of building the first 
atomic bomb. Those men thought 
they were in a deadly race with Nazi 
scientists for acquisition of a weapon 
that could control the world. 

Even as they hurried to overtake 
what they assumed was a German 
lead, there developed among them 
what Mr. Sherwin calls “a pervasive 
anxiety” about the bomb’s role in tire 
postwar world. “Within the context 
of the war, the scientists who partici- 
pated in the decision to bomb Japan 
were consumed by a angle objective 
— to transmit in the most dramatic 
fashi on possible tire m«s a g c that the 
new age required new forms of inter- 

watirtnal nrgantTatinn ” 

The story of their struggles to ra- 
tionalize their own destructive handi- 
work is not a sew one. But It gains in 
poigoance as succeeding generations 
go through mental ana moral gyra- 
tions, trying to crane to terms with 
possession of a weapon whose power 
can end life around the globe: 

These men — Americans. Britons 
and refugees from Continental Eu- 
rope — were scientists united in the 
conviction that they could not fci 
Hitler or his allies win the first round 
of the nuclear weapons race. They 


accomplished that mission brilliant- 
ly, but even as they did so, they recog- 
nized that they h»d started the most 
dangerous competition in history. 

As early as fanuary 1944, Leo Szi- 
lard, one of the refugee scientists, 
wrote to President Roosevelt’s sci- 
ence adviser, Vannevar Bush: “This 


canst. Thus, even before the atomic 
weapon had been bom, some of its 
paraits entertained the idea of a pre- 
emptive mili tary attack against the 
Soviet Union, in order to make the 
world ultimately a safer place. 

Others in the group, including the 
great Danish physicist Niels 



Churchill to break the secrecy on the 
project and teD the Soviet leadership 
what the American and European 
scientists were attempting to do. 

“Arguing for a unilateral initia- 
tive,” Mr. Sherwin writes, Mr. Bohr 
“insisted that the time to prepare 
for security in the nuclear age was 
before the bomb's development over- 
whelmed the possibility of interna- 
tional cooperation. If the bomb was 
bom in secret in the United States, it 
would be conceived in secret by the 
Soviets. The only hope fra avoiding a 
nuclear arms race after the war was to 
create an international control ar- 
rangement before the war ended and 
before tire bomb was tested." 

It is remarkable to read two gener- 
ations later that the scientists who 
ccmceived and developed the bomb 
divided along the same lines on which 
Americans divide today on the issue 
of controlling its destructive power. 

Then, as now. there were those who 
saw the only hope in keeping a power 
advantage over the Soviets — and in 
being prepared, if it came to it, to use 
that power to leach them a lesson 
about the danger of even thinking of 

gaining a n uclear ad vantag e 

Then, as now, there were others 
who were prepared to take a unilater- 
al risk of forsaking the advantage 


weapon will be so powerful that there 
canoe no peace if it is simultaneously 
in the pouession of any two powers 
unless these two powers are bound by 
an indissoluble political union.” 

Such a union had to be created, 
Mr. Szilard said, “if 
force," to prevent a nuclear 


saw a different imperative. When he 
began consulting with the Manhattan 
Project after escaping bom Us home- 
land in 1943, Mr. Boor undertook an 
additional responsibility that he 
deemed just as great as outdistancing 
the Nazi scientists. It was an effort 
to persuade Roosevelt and Winston 


that secrecy and technology can pro- 
vide, in the belief that if the Soviets 
are not persuaded of America’s good 
intentions, the world wiB not survive. 

Forty years later the debate still 
rages. But the stakes are higher today, 
because of the quantum leap in the 
size and destructive force of the su- 
perpowers' nuclear arsenals. 

The Washington Past. 


All Carrot andNo Stick Add Up to No Movement 


W ASHINGTON — Die failure of “con- 
structive engagement” — the Reagan ad- 
ministration’s attempt to nse friendly persuasion 
to promote reform in South Africa — nas critical 
implications for United States policy toward 
repressive regimes around the world. 

Although not officially labeled “constructive 
e ng age me nt," that is preosely the principle that 
guides UJL relations with Tarwan, Chile and the 
Philippines, among other countries. As in South 
Africa, it has had the opposite of the desired 
effect on those authoritarian governments. 

The Reagan administration's quiet diplomacy 
has obviously had little success in southern Afii- 
ca, either in facilitating an endto apartheid or in 
resolving the conflict m Namibia. This has be- 
come particularly evident in the last few months. 

In May Pretoria sent a secret commando team 
deep into Angola, more than 1,000 miles (more 
than 1,600 kilometers) from the South African 
border, to att a c k a Gulf Ofi installation vital to 
the Angolan economy. In mid-June there was the 
raid into Botswana's capital, Gaborone. A few 
days later South Africa announced it was ap- 
pointing an interim government in Namibia, in 
defiance of U.S.-lcd myniating efforts to bring 
independence to the territory. An internal crack- 
down has now followed in South Africa itself. 

South Africa's go-it-alone stance, in open defi- 
ance of American admonitions, underscores two 
flawed assumptions at the heart of the Reagan 


By Robert A. Manning . 

i: that the interests of Washington and 
are identical, and that a policy of all 
carrot and no stick can be effective. 

Ihere is nothing inherently wrong with offer- 
ing countries like South Africa a positive incen- 
tive for change. Indeed, such a policy may be 
more effective than the condescending moraHsm 
that some liberal administrations have used to 
tiy to bring about reform. But dearly such incen- 
tives will nave little effect unless thqr are accom- 
panied by a threat d reprobation. 

The issue is not whether U.S. diplomacy 
-should be loud or quiet, bat whether or not 
America is making appropriate use of the eco- 
nomic and political leverage at its diroosaL 
Consider three other countries in which Wash- 
ington has squandered leverage that might have 
been used to farilirare democratic change: 

In Taiwan, top officials of the government 
have been convicted of complicity in the brutal 
murder of the ChiiKse- American writer Henry 
Liu, an American citizen assassinated at lus 
home in & San Francisco suburb. The regime of 
President Chiang Ching-kuo has refused Ameri- 
can requests to extradite the officials involved 
for trial in American oorats and to curtail its 
spying operations in the United Slates. Yet the 
Reagan administration continues to seO some 


$750 million wrath of aims to Taiwan every year. 

In Chile, for which the Reagan a dminis tration 
has approved a $1 -billion loan package, General 
Augusto Pinochet’s regime persists in its refusal 
to move to restore democracy. 

In the Philippines, since the m u rder of former 
opposition leaner Benigno Aquino, Washington 
has strongly pressed President Ferdinand Mar- 
cos to make sweeping refrains to defuse the 
worsening economic and political crisis and the 
growing Communist insurgency. U.S. officials 
concede that Mr. Marcos has failed to make the 
needed reforms. Yet the administration has op- 
posed congressional efforts to cut military aid 
and refuses to trim economic assistance. 

No one seriously imagines that the United 
States has unlimited leverage with these or any 
other foreign governments. But in all three cases, 
failure to use the leverage at hand is likely to 
foster instability, harm American interests and 
create opportunities for Soviet influence. 

Fra all its tough-sounding rhetoric, the Rea- 
gan administration lacks a sense of realpolitik. 
Unless it is unwiDiiig to put teeth in its quiet 
diplomacy, the strife in Smith Africa today may 
turn out to be part of a sad series of future 
disasters fra American foreign policy. 

Mr. Manning wrists an for ei g n affair; for the Far 
East Economic Bedew and other pubBcatum. He 
cmtribuled this comment to The Nqu York Tones. 


In El Salvador, Both Sides 



N EW YORK - For several 
years, human rights groups con- 
cerned with El Salvador have foensed 
the bufit of their attention on abuses 
by government forces. Those faxes 
continue to be responsible for most 
of the dvflian suffering, but a recent 
deterioration in the practices of the 
guerrillas makes it essential to speak 
out more forcefully to denounce their 
abuses against uoncombatanu. 

Compared to such guerrilla groups 
as Sendero Lmmnoso, which is 
ing a savage war in the Andean I 
lands of rein, and (he “contras* in 
Nicaragua, who are systematically vi- 
olating the laws of war, the Salvador- 
an guerrillas had a relatively good 
reputation. This rested principally on 
their treatment of prisoners of war. In 
the last six years they have released 
thousands of captured soldiers un- 
harmed, either to the International 
Committee of the Red Cross or to 
local civilian officials. 

Whether carried oat for humani- 
tarian reasons or propaganda pur- 
poses, that policy contrasted sharply 
with the practices of the Salvadoran 
armed francs, which have been sus- 
pected of summarily executing most 
prisoners they capture in combat 
This is not to say that the guerrillas 
committed no human rights abases. 
On three occasions in mid- 1983 they 
executed captured soldiers. They 
have also been responsible for several 


By Aryeb Neier 


assassinations, and they have shot at 
vehicles that crashed through then- 
road blocks, wantonly killing and in- 
juring civilian passengers. 

Fra several months in 1984 the 
guerrillas practiced forced recruit- 
ment in areas they controlled. Al- 
though not prohibited by the laws of 
war, this caused grief to many civil- 
ians, leading at least 1,500 to flee 
their homes and join the enormous 
population of displaced persons — 
most of it created by the armed 
forces’ attacks on civilians in guerril- 
la-controlled areas. Criticism of 
forced recruitment in the press and 
among human rights groups seemed 
to have an effect, fra in September 
1984 the guerillas stopped iL 
It is in the last eight months that 
the practices of the guerrillas have 
become especially disturbing. There 
has been an increase in assassina- 
tions. often of right-wing political 
leaders. The main guerrilla organiza- 
tion denies any connection with the 
group known as the Clara Eliza beta 
Ramirez Front which has claimed 
responsibility fra the killings. But 
the guerrillas have not denounced the 
assassinations, explaining that to do 
so “would deepen contradictions” 
among the- forces on (he left 
Other recent guerrilla abuses in- 
clude an episode in April at Santa 


Cruz Loma, a village near the i 
in which the gnemflas kilted un- 
armed members of the local rivA de- 
fense and a number of civilians. 
Shortly thereafter the guerrillas be- 
gan kidnapping mayors m several re- 
gions, daanmg that the g o ve rn ment 
was trying to use these mayors to 
exercise civil authority in areas that 
the guerrillas consider imriw their 
control Is practice, the mayors are 
bang bdd as hostages, apparently so 
that they can be i 
tured guerrilla i 
Most dramatically, on June 19 the 
gnerriOas attacked an outdoor restau- 
rant in San Salvador, killing four U.S. 
marines and nine civilians. The guer- 
rillas Harm that tie marines were a 
legitimate target because they were 
members of the aimed forces of a 
party to the conflict That is insup- 
Ll - because the marines* sole 


government forces. The reverse is 
also true: Critics of the government 
must not hesitate to condemn the 
mounting abuses against noocombai- 
ants by the Salvadoran guerrillas. 

The writer is vice chairman of Arner- 
icas Watch, a human rights organiza- 
tion. He contributed this comment to 
Tfee New York Tunes. 


For Punjab, 
A Return 
To Normal? 

By S. Nihal Singh 

P ARIS — No one doL&ts that :bc 
aareemcr.l between Pr.mcr Minis- 
ter Rain G^r.dh: s. no Hare hand 

Sindb Lonsowa!. the Sikh leader, is .i 
major breakthrough in a three- year- 
old' cnsi.s that took Indira Gandhi's 
life las: October and the h>e« rf thou- 
sands of Sikhs in November. The 
central question is W:j| m »t-rk? 

There is a reasonable chance that u 
will, despite the t»m d jnger? of Sikh 
extremists' efforts to sabotage :: ard 
the potential Hindu backlash, it re- 
mams for Mr. Lonscwal to sell th: 
agreement to a majority nf India’s 14 
million Sikhs, and for the .govern- 
ment to control the backlash.' 

The ingredients cf the agreement 

are not dramatic. The Lc Corbusier- 
built city of Chandigarh, pro-on! :> 
shared by Punjab and Haryana as 
their joint capital, goes to Punjab. 
The dispute over the sharing of river 
waters goes to a commission. There 
are palliatives ic terms of the re- 
habilitation in civilian life of Sikh 
soldiers who mutinied after govern- 
ment troops stormed the Sikhs’ holi- 
est shrine, in Amritsar m June Iasi 
year. And the inquiry into the anti- 
Sikh riots after Indira Gandhi's mur- 
der has been broadened to include 
other cities, in addition to New Delhi. 

The significance of the agreement 
is that instead of the government 
working for an opening." a compro- 
mise is now in place, which its oppo- 
nents will have to wreck from the 
outside. Mr. Gandhi has shown clev - 
er political footwork in springing the 
agreement when he did. ftis firs: ma- 
jor domestic triumph since (us land- 
slide election victory last December. 

Looking back, the very stridency of 
his December election campaign gave 
him the leeway to impose a set tie- 
menu which cannot but be unpopular 
with Punjab's Hindu neighbor Hary- 
ana. This sentiment has been exploit- 
ed bv the opposition parties, with 
state legislators resigning their seats. 

Mr. Longowal has to make the 
agreement stick, guiding it through 
the mine fields of extremists' displea- 
sure and the reservations of fellow 
Sikh leaders in the moderate camp. 
Thus far he has displayed surprising 
agility in building his leadership on 
the ruins of a total failure of Akali 
Dal. the principal Sikh party, to con- 
trol events last year — a failure (hat 
ultimately led to the traumatic raid 
on the Golden Temple. 

He has provided the government 
with the essential link: a credible 
Sikh leader to make a deal with. Ir. a 
way. be bears the heaviest burden in 
making the compromise work. 

The success of Mr. Longpwal’s ef- 
forts will determine how soon the 
prosperous state of Punjab can return 
to normaL A crucial decision the gov- 
ernment has to take is whether to 
extend federal rule to Punjab for an- 
other six months or a year after Octo- 
ber. or let the electoral process go 
through. It involves a fine balancing 
between the risks of giving the ex- 
tremists an opportunity to stir Sikh 
passions again and the salutary ef- 
fects of normal elections. 

One consequence of the three- 
year-old crisis has been a polarization 
between Sikhs and Hindus, who have 
traditionally been dose. Whatever 
the reasons for the government raid 
on the Golden Temple, the Sikh psy- 
che was deeply wounded, and the 
anti-Sikh riots in November served 
further to alienate the community 
from the majority Hindus. 

But behind the Sikh dissent lie 
deeper reasons. The present Punjab 
was carved out in 1966 after a tong 
agitation by Sikhs demanding their 
own -slate; it bad not been demarcat- 
ed at the time the rest of the country 
was divided into linguistic units. But 
Sikhs were only 54 percent of the 
population in the new Punjab, and 
their desire to rule could be achieved 
on occasion only in a coalition with 
other parties. The prosperity of Pun- 
jab, the granary of the Green Revolu- 
tion, has further dipped the Sikh per- 
centage to 52 percent, due to the 
influx of Hindu laborers. 

At the same time, traditional Sikh 
leaders were becoming increasingly 
concerned with modem trends and 
prosperity influencing young Sikhs to 
do away with the outer symbols of 
their religion, particularly unshorn 
hair. They feared that, without these 
symbols, the Sikhs would be sub- 
merged in the sea of Hinduism. 

The Green Revolution was tending 
to taper off inihe late 1970s, and that 
fostered a new nexus between rich 
farmers demanding more industry 
and economic benefits for Punjab 
and the religious leaders concerned 
over their flock. 

The Rajiv-LongowaJ agreement, if 
it succeeds, will imply that the Sikhs’ 
future evolution in Punjab will take 
place in the normal circumstances of 
a democratic political process. 

The writer, a former editor of The 
Statesman (Calaaiai end the Indian Ex- 
press. is preparing a book an UNESCO. 
He eomribtaed ims amn&u to thcloter- 
national Herald Tribune. 


LETTERS TO THE EDITOR 
The ANCs Credentials Montreal Plus and Minns 

Regarding “Picasso and Tut Se- 
<p*efs m MontreaT (July 15 j: 


Montreal's Expo ’67 was not legal- 
tir but a “Universal and 


lure was to guard the US- Embassy, 
and they took no part in hostilities. 
Moreover, even if the marines could 
have been considered a legitimate 
military target, the circumstances 
made it almost inevitable that there 
would be a heavy civilian d eath toIL 
In denonnring the attack, Arch- 
bishop Arturo Kivera' y Damas of 
San Salvador said it would be fypo- 
criticai not to condemn as wdl the 
continuing use of terror tactics by 


Regarding Andrew Youngs opinion 
cobom You Hare to Give the South 
African Whites a Choice'" (July 22)' 

Mr. Young's reference to the A/rt- lya3 f ^ria D -S; 

sSSHEK ESSpsafiS 

^ October of that y-ear. The dty 
goals, Mr. Young's advice is. to ■ U3e , ,nfraslructw «- the Quebec pro- 



% f 


words, >rery shnplt. 
ARNOLD M. SILVER 
Luxembourg. 


4r* 

Ki 




JACQUES GAUDREAU. 

Paris- 


r_r- 9m!m g 









, JS» 


Hgi£| 

, j>-.: '.^'^b! :c > 

'. r v: HirA.^St, 


INTERNATIONAL HEKALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


Pape 3 


Rival Agendas for Expected Mideast Pmce Talks Are Causing Concern in Amman 


By Charles P. Wallace 

. UxAn%tlts Tbna Service 

AMMAN, Jordan — Although most of the 
attention surrounding the search for pace in 
the Middle East has foensed lately on the choice 
of Palestinian negotiators to meet with ft UJS. 
envoy, officials here say that they are now more 
concerned about what the two sides will talk 
about once the discussions begin. 

“Everybody is worried about what’s next," a 
Jordanian journalist said. 

Despite the hesitation that has emerged re- 
cently m Wa sh ing t on, iiis taken as an article of 
faith that the United States will send Richard 
W. Murphy. assistant secretary of state for Near 
ami Smith Asian affairs, to Amman in 
the coming weeks to meet with a Jordanian 


: --- Hir^ delegation that win also indude Palestinians. 

- i£EHi Although the planned talks are highly syzn- 

dl K> «{! bolic of u.SL, Jor danian and Palestinian deter- 
7\ Itfj‘ mnafim ift keen itr> fht» ffl n raentntw fn f hp. wan. 


...... OSflUj-W 


process, officials acknowledge that there is no 


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The Jordanians, whose monarch, King Hus- 
sein, initiated the latest round of talks, are 
hopeful that the discussions wilj lead quickly to 
U.S. recognition of the Palestine Liberation 
Organization. The FLO then could enter the 


Jordanian officials said that they expected the 


PLO leadership under Yasser Arafat to agree 
reluctantly to reoogroze Israel’s right to exist, by 
endorsing UN Security Council Resolutions 242 
and 338, as a means of winning recognition 
from Washington. 

But FLO officials are far less optimistic on 
the question than, the Jordanians, saying that 
they are reluctant to make a major concessoa to 
Israel at the start of the talks without a major 
concession in return from the United States. 

“We are under a lot of pressure internally nor 
to give any more without something to show for 
it,” a Palestinian dose to Mr. Ararat said. 

The PLO has beat seeking a statement from 
Washington that could be interpreted as an 
expression rtf support for the PLO's primary 
goal, Palestinian sdl-determination. That uam 
is generally interpreted as signifying & Palestra- * 
Ian oifltg. n rfiirfi is so mething fhar fha Anwfcarw 
have always refused to consider. 

Rather than mutual recognition between the 
FLO and the United States, according to offi- 
cials here, the PLO is hopeful of getting agree- 
ment for the convening of an international con- 
ference to try to settle the Middle East conflict 

Because such a conference would include all 
parties with stakes in (he Middle East — Syria 
as well as Jordan, and the Soviet Union as well 
as the United States — both Israel and the 
Reagan administration have been cool to the 
conference idea. 


The United States, meanwhile, wants to use 
the prdimmaiy talks as a means of engaging the 

Jor danian*; in direct negotiations with the Israe- 

According to a Western diplomat in Amman, 
that entails persuading the Jo rdanians to meet 
the Israelis without the participation of the 
PLO, something that the Jordanians have re- 
garded with something akin to horror. 

“Without the PLO there win never be any 
talks,” a Jordanian said. “The United State: 
might as well start negotiating without Jordan 
altogether.” 

The three different agendas that are evolving 
have left some officials pessimistic about the 
future of the discussions, which the Americans 
refuse to even labd negotiations. 

“The Americans are not going to give cm the 
question of sdf-deteratinauon, the PLO is not 
dealing ret 242 and the Jordanians will not drop 
the PLO, so what is Murphy going to talk 
about?” said a West Enropean.diplomaL 

The Americans are now wrestling with (he 
question of which Palestinians to meet with, 
foQowing receipt of a list of posable candidates 
submitted by the Jordanians and reportedly 
endorsed by Mr. Araf&L 

After being shown a list of seven names by the 
United States, Prime Minister Shimon Petes of j 
Israel at first termed it unacceptable but then 


said that Israel had no objections to two of the 
candidates — Hanna Seniora, a Jerusalem 
newspaper editor, and Fail Abu Rahmrii, a 
Gaza lawyer. 

Diplomatic analysts and Jordanian officials 
were surprised at the relatively mild opposition 
offered by the Israelis. 

The Jordanians and PLO officials said that 
they were heartened by a statement from Wash- 
ington saying that load would not be allowed 
to exercise a veto over Arabs with whom the 
United States might meet. 

■ Sharon Stand on PLO 

Dan Fisher of The Los Angela Tima reported 
from Jerusalem: 

Ariel Sharon, a senior minis ter in Israel’s 
national unity gpvenunent and architect of its 
war in Lebanon, has called for Israeli strikes 


against PLO command posts in Jordan, accord- 
ing to separate reports by Israeli radio and 
televiaoiL 

The former defense minister's remarks were 
said to have come in a meeting of the rightist 
Likud bloc caucus in the Knesset and followed a 
cabinet matting in which the government voted 
to strengthen its internal security forces to com- 
bat terrorism. 

Mr. Sharon said that the PLO should not 
enjoy immunity from Israeli attack just because 
it had moved its headquarters from Lebanon to 
Jordan, according to the reports. 

Israel must teU the United States that there 
will be no negotiations with Jordan as long as 
Hussein allows the PLO to maintain bases on 
his territory, Mr. Sharoa reportedly added 

According to Israeli defense sources, several 
hundred PLO political and administrative func- 


tionaries moved their headquarter* from Beirut 
to Jordan after the Israeli Arms forced the PLO 
out of Lebanon during its RS2 invasion. 

Although the PLO is not believed to have 
independent military bases tn Jordan, the Israeli 
sources say (hat up to 2,000 fighters are in the 
country as part of the Palestine Liberation 
.Array, a force under the tight control of the 
regular Jordanian Armv . 

Defense Minister Yitzhak Rabir. said during 
a radio interview last week that the rappfivhc- 
ment between Hussein and Mr. Ararat hod 
contributed to increased terrorist activity in 
Israd and the Israeli-occupied West Bank and 
Gaza Strip, 

“We know for a fact that operational orders 
are sent from there.” Mr. Rabin said, adding 
that he was certain that thU was being done 
without Hussein’s knowledge. 


In Soviet, Long Pause for a Ruler’s Illness 


(CoQ&med from Page I) 
contrast of personalities and style 
worked against Chernenko. Andro- 
pov after his death immediately be- 
came a folk hero. Somewhat like 
John F. Kennedy, to whom he oth- 
erwise bore do resemblance, An- 
dropov died before one could de- 
termine whether be would be able 
to implement his virion. But in the 
public mind be was seen as the 
leader who would have done what 
he pledged to do, had health al- 
lowed. 

Any Soviet leader would have 
been at a disadvantage as Andro- 
pov’s successor. Given Chemeo- 
koVpublic imag e, the disadvantage 
was colossal. 

Chernenko must have tensed the 
potency of the Andropov myth. He 
steered dear of any obvious new 

g&ed^aUeast rbemrica^ that he 
was continuing Andropov’s poli- 
cies. Moreover, he had no program 
of his own. Andropov had charted 
the mam direction of policy and 
had brought a number of younger 
men into the key positions to estab- 
lish control over his inheritance. 

The subsequent 13 months were 
to a large extent a period of truce, a 
stalemate between the Andropov 
forces and those associated with 
Chernenko and Brezhnev. 

In the coarse of these 13 months, 
Chernenko did nothing to disman- 
tle Andropov’s program of eco- 
nomic experimentation. He did not 
try to stop the anti-comqjtion cam- 
paign. ft was during ins rule that 
one of his, and Brezhnev's, dose 
friends, former Interior Minister 
Nikolai A. Sbchelokov, committed 
suicide to avoid trial on corruption 
charges. 

And yet Chernenko was dearly 
not the heir and executor of the 
Andropov inheritance. Urn pace of 
political life set by the new leader 
seemed to recall the Brezhnev years 
and served as a brake on the mod- 
ernization drive initiated by his 
predecessor. Andropov’s appeals 
demanding exertion and sacrifice 
were subtly replaced by Chernen- 
ko’s appeals promising benefits. 



Iha fatooond Firm 


Konstanm U. Chernenko, although gravely ffl, cast Ms The nrosuect 
ballot is February in a scene lor national television. Square rimera! - 


Gromyko and other key policy- 
makers during that period seemed 
maze tough in tone and more un - , 
yielding in substance that did Cher- 1 
nenko’s pronouncements. 

Bui apart from making, a person- ! 
al imprint on foreign policy, Cher- 
nenko had done little beyond act- 
ing as a caretaker for a new 
generation of leaders. Many of his 
public activities seemed confined 
to ceremonial duties, awards of 
decorations, pep talks that he 
found increasing^ - difficult. 

In late January rumors began to 
cxrcubde that Chernenko was dy- 
ing. There were rumors that Mr. 
Grishin or another Politburo mem- 
ber, Grigori V. Romanov, was the 
designated successor. 

The prospect of another Red 
Square funeral — the thud in less 
than three years — and another old 
leader in the Kremfin — the fourth 
in three years — seemed to con- 
found a weary nation. 


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Soviet public coolness toward Chernenko g ™ * 10 oon ‘ 

changed to sorrow, when, toward the end of V?# 0 ?* ^ *>*“■ 

~ painfully long and demoralizing. It 

his life, he wa * taken from his sickbed, 

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«n T tt t , i . . i m continued, with the exception of 

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^ A ? < T Cai !L WCrC breaJdn& ^ hri writings behadbem an outspo- M?SaSf took Ss 
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Whether Chernenko wanted to 
apply the brakes is a debatable 
point. 

“Chernenko," a Soviet official 
said , a could not slam on the brakes, 
fiat he simply cook his foot off the 
accelerator and everything slowed 
down." 

The country, an analyst said, was 
“on automatic pilot.” 

What Chernenko did during his 
tenure was to calm (town sectors of 
the country shaken by Andropov’s 
demands and to reassure the bu- 
reaucracy after a turbulent IS 
montha. He reversed one of Andro- 
pov’s last decisions, calling for a 
severe cut in the size of the bureau- 
cracy. The plan had been to elimi- 
nate a Dumber of jobs dreamed up 
by officials to take care or then 1 
protegfcs and friends who, in turn, 
had come to regard their jobs as 
sacred. 

Chernenko's other major move 
was to change Moscow’s policy to- 
ward Washington an arms control. 

Two months before Chernenko's 
accession, the United States had 
started deploying Ferrirmg-2 and 
cruise missfles in Western Europe. 
After a political and propaganda 
battle that lasted more than' three 
years, the Russians had suffered a 
crushing defeat, having failed to 
persuade die West Europeans not 
to accept the new weapons. 

When the first Pershings arrived 
in West Germany in December 
1983. Andropov ordered bis negoti- 
ators to' leave the Geneva talks. 
Soviet propaganda became more 
bitter than ever. 

The walkout was preceded cart- 
er in 1983 by President Ronald 
Reagan's polemical offensive 
against the Soviet Union that 
seemed to reach a new intensity 
with his speech on the "evil em- 
pire.” Moreover, the president bad 
advanced his program for an anti- 
miss3e defease shield for the Unit- 
ed States. As seen from Moscow, 


same tune 
Western E 
on tbeissu 


ime making rffeps to split hMtpdUA toTieSer?! sa5m Sorie 
n Europe from Washington wd tiral Mokxiw should wait for ^ priWiriy, speaking 
issue of arms control the end of Mir. Reagan's term m the 


ESCORTS A GUIDES ESCORTS & 


JES ESCORTS A GUIDES ESCORTS d GUIDES ESCORTS & GUIDES 


Soviet offi- 
ikina about. 


The shooting down of the South White House. 
Korean airliner Sept. 1, 1983, final- Moreover, t 


this period. 
The polk 


drift was almost pal- 


■ ca £ an replace Chernenko. 
ais, Y** Ironically, Chernenko’s public 
to™* Image changed sharply during the 
Urns, last months of his fife. Russians 
began to lode al him in a different 
H con- seeing an old and side man 


. Moreover, by semng the mma- pabte. So was the despondency of 
ly made it dear to Andropov that uve m arms control he could ex- STdite. It was dear that the end 
the battle for West European pub- pea to inflict a worldwide political was near bm no one knew for sure 
lie opinion was Iosl and xnoraJ defeat cm the United whether another old I TMm , would 

In responding to this disaster, States, or at least pul the Reagan m,lace Chernenko, 
the Russians appeared to be with- administration on the defensive, ironically, Chernenko's public 
drawing from the international forced to justify its policies io the image changed sharply du ring the 
scene. Andropov’s statement to the American people and their allies. ^ months of his life. Russians 
nation of Sept 27 went so far as to The change in Moscow's policy began ^ lode at him in a different 
challenge what had been the basic evolved speedily. After initi al con- way, seeing an dd and sick man 
premise of Brezhnev’s foreign po- ciliatory noises, Chernenko pro- bravely soldiering on at his post 
tkry: that detente with the United posed in late spring of 1984 to open with Hs patriot’s pride in the djgni- 
Staies was not only desirable but talks in Geneva cm spat* arms m ty of his country, 
also possible. What Andropov said September. When the United He was taken from bis sickbed to 

was that, while desirable, dbtenic Slates responded that it was willing his ballot in an ejection. Tele- 

with the United States was not pos- to talk aboui ^>ace we^xms mt>- vision film showed him walking 
side and that c onfr ontation in- vided the Russians returned to dis- , with difficul ty his movements slow 
stead seemed inevitable. cuss strategic and medium-range and obviously painful, his eyes un- 

it was evident that domestic and missiles, Moscow brand ed the re- focused, yet struggling to do what 
foreign considerations gave Andro- ply a rq action of its proposals. was expected of hutL 
pov an almost desperate feeling Last fall, however, Chernenko He was again shown on tdevi- 


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stead seemed inevitable. cuss strategic and momma-range nod obviously painful, his eyes un - 1 

It was evident that domestic and missiles, Moscow branded the re- focused, yet str ug glin g to do what 
foreign considerations gave Andro- ply a reaction of its proposals. was expected of hmc 
pov an almost desperate feeding Last fall, however, Chernenko He was again shown on tdevi- 
that he had to do something. Had essentially took that U.S. position, si on shortly before his death in 
be not carried out his public threat turned it into his own, and pro- March, receiving a delegation and 
to break off the Geneva talks once posed it to Mr. Reagan. Washing- performing his ceremonial duties 
the Americans began deploying ton had little choice but to accept while in pain. The people began to 
new missiles in Europe, he risked a it, end this opened the way for the fed sad; they fdt Sony for him. 
humiliation that would have weak- current round of Geneva tails. In contrast to the rejection of 
ened him at home and made the By all accounts, Chernenko im- him in Hfe, Chernenko was accept- 
Reagan administration doubt the posed the change almost single- ed by the cotmtiy in death, 
firmness of the Kremlin. bandedly. The speeches of Mr. NEXT: Gorbachev's style of rule. 


LONDON 


taied him at home and made the By all accounts, Cheme 
Reagan administration doubt the posed the change almost 
firmness of the Kremlin. handedly. The speeches of 

Chernenko's attitude was slight- 

ly different. Although he did not 
favor oootimiatton of the Geneva 
talks trader the circumstances, 

Chernenko fdt that the starkly __ 
confrontational line was not an ad- Wf 
equate response to President Rea- Jc H A N N E 
gan's challenge. ■ 

i- ike Brezhnev, Chernenko be- H 
Keved that the equilibrium of force ■ wednesoa 

between the United Slates and the I t3 35 world games 

Soviet Union was roughly in bal- I i |£0 s^Jssfamilyr 

since, if noi in the sense of numeri- ■ 1 I .46 sky trax 2 


BROADCASTING TO CABLE COMPANIES 

IN EUROPE & THE UK VIA SATELLITE 

~Europe5 Best View" 


PROGRAM, WEDNESDAY 31B JULY 


systems, at feast in the sense that 
neither could expect to destroy the 
other unscathed 
Like his mentor. Chernenko be- 
lieved that the overriding need was 
to prevent direct confrontation be- 
tween the two nuclear powers. In 


13 35 world games 

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• i. • • 








INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


Page i 


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Rostal on musical prodigy: "I never resisted.” 


Mo* Rostal: A Full Life 
As a Master Violinist 


By Andrew Clark 

B ERN — Max Rostal first 
played the violin at the age of 
5. At 10. a musical prodigy, he was 
entertaining the Austrian aristocra- 
cy. When he was IS, hts mother 
took him to Beilin to study under 
the famous violinist Carl Flesch, 
and before the age of 20, Rostal 
was concertmaster of a profession- 
al symphony orchestra and touring 
ihc world as a soloisL 

“1 never resisted the forces that 
made me a musical prodigy,** he 

mouth and did w&atwas askoTof 


mouth and did what was asked of 
you. I know I had a privileged posi- 
tion, but I was not entirely enthusi- 
astic about it because my col- 
leagues were quite jealous and 
often used to beat me up!” 

Today Max Rostal, who win be 
80 Aug. 7, takes pride in a different 
reputation: that of Europe’s best- 
known violin teacher. Over the past 
50 yeais thousands of aspiring 


hisdasses. : LeonSpierer, cancen- 
master of the Berim Philharmonic, 
Ulf Hoelscber and Uto light, both 
well-lutown concert violinists, 
Thomas Fftri, leader of .the Camc r - 
ata Bets, all studied intensively 
with RmtaL Perhaps his best- 
known pupBs are the three Anstri- 
an-bom members of the Amadeus 
Quartet, whose release he secured 
from British imernmemm London 
at the start of World War H and 
who were to develop under his tme- 
lage imo wodd-class string players. 


After three 
Flesch, whom 


as assistant to 
scribes as "the 


father of modem violin playing,” 
Rostal became a prof essor of vioEn 
at Berlin in the early 1930s, moving 
after the Nazis came to power to 
London's Guildhall School of Mu- 
sic and Drama. Rostal now has 
British and Swiss nationality, hav- 
ing settled in the Swiss capital in 
1958 mainly for health reasons. 
Last pmnth he gave his final mas- 
ter-class at the Bern Conservatory, 
and gave up all formal teaching 
co mmitm ents to devote himself to 
writing an autobiography and com- 
pleting an advanced grade for stu- 
dents and teachers, “The An of 
Violin Haying." 

A short, dapper man who takes a 
swim at Ins holiday home overlook- 
ing Lake Thun most days in sum- 
mer, Rostal does not lode his 80 
years. His white beard gives Mm 
the air of a guru, and in measured, 
slightly accmtad Eng fah, hf opraW 
with a c*sn*l suggestion of experi- 
ence and relish far life. 

He regards his tea ching methods 
as an evolution of the approach 
adopted by Cari Flesch. The only 
fundamental difference is in then 
personal style. Rostal describes 
Flesch as a dictator, not a father 


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ARTS /LEISURE 


Life Is a Cabaret, Old Chum, on London Stage This Summer 


By Sheridan Morlcy 

. Imentatmtal Herdd Tribune 

L ONDON — Life, as Sally Bowles used 
/ to observe to Christopher Isherwood 
with monotonous regularity, is a cabaret, 
old ch ^m, and London this summer is full 
of it Al ternati ve Royal Shakespeare Com- 
pany and foreign- theater festivals may be 
attracting more critical attention elsewhere 
this week, but there can be httle doubt that 
there’s more high-class cabaret around the 

BRITISH TREATER 

West End tins August than at any time 
since they closed the Catt de Paris and the 
nightingales stopped ringing in Berkeley 
Square. 

Consider The Warehouse in Covent 
Garden: over the past few weeks there, a 
guest management run by David Reman 
and Peter Wilson have brought us a loving 
tribute to Ethd Merman by Libby Morris 
and an eccentric tribute to June Havoc by 
June Havoc. In the early part of the Ware- 
house evening at present can be found the 
jewel in their crown, “Jerome Kero Goes to 
Hollywood,” Tor which Keman. alongside 
Liz Robertson, Elaine Delmar and Elisa- 
beth Welch bell through a two-hour sinea- 
loog of 40 Kem standards from the “The 
Song Is You” and “I Won't Dance” all the 
way across theyears to “Look for the Silver 
Lming” and “Make Way for Tomorrow.” 

Did: Vosburgh, still the best writer of 
songbook narratives in the business, has 
cobbled together a minimal linking script 
in the course of winch Keman does the 


whitest impression of Paul Robeson I have 
ever seen. But even in this summer of 
vintage and classic musicals ail over town, 
there is no musical moment more haunt- 
ingly evocative than the one when Wdcta 
comes out of the Warehouse darkness to 
find hex spotlight for “Smoke Gets in Your 
Eyes.” Now in her middle 70s, and a survi- 
vor of the “Broadway Blackbirds of 1928." 
Welch is the last at the great cabaret stars 
from the 1930s still to be making a living at 
it, and her appearance at The Warehouse 
should be a cause for celebration and lines 
and standing ovations for anyone who 
cares even remold y about the prewar 
greatness of the American musical theater. 


Later every night on that same Ware- 
house stage. Marian Montgomery and Jane 
Carr and Gave Brown are to be found in 
“Friends of Dorothy,” an ambitious at- 
tempt to unite and celebrate the very dif- 
ferent talents of Dorothy Parker and Doro- 
thy Fields, presumably on the theory that 
both shared Lhe miw Christian name and 
lived through roughly the same Algonquin 
years. It might in fact have made more 
sense to link Fields with Kem, sioce they at 
least wrote five Lira scores together: the 
problem with Parker and Fields is essen- 
tially how very ihtle they had in common. 

Parker was an add satirist still famous 
for her short stories, cracks like “Men nev- 
er make passes at girls who wear glasses” 
and a review of (Catharine Hepburn perfor- 
mance “running the gam ut of ^rnnH^n 
from A to B .” Fields was an agile Broad- 


way lyricist who wrote the book for “Annie 
Get Vour Gun” (an achievement oddly 
ignored here) as well as a dozen classic 
nightclub numbers with Jimmy McHugh 
from “I Can’t Give You Anything but 
Love" all the way to “On the Sirnnv fide of 
the Street." 

But as those titles might suggest. Fields 
was an altogether more upbeat and up- 
tempo Lady than Parker, and her songs 
therefore sometimes lie oddly alongside the 
more cynical Parker sketches that have in 
any case dated horrendously in the half- 
century since they first reached The New- 
Yorker. Only at the very cad of her long 
songwriting career, with the Cy Coleman 
collaborations on “Sweet Charily" and 
“Seesaw." did Fields’s songs begin to sug- 
gest that life might be rather less than 
wonderful, and by that lime Parker was 
already long dead.' 

Rising aoove that central problem, Jane 
Carr and Gaye Brown form themselves 
into a dou ble-aci strongly reminiscent of a 
female Laurel and Hardy, while the more 
elegantly languid Manan Montgomery 
takes care of the torch singing. Ian Judge's 
agile prod action gives us at least one total- 
ly unknown number from “Sweet Charity" 
(cut on the pre-Broadway tour, presum- 
ably, and wrongly) but “Friends of Doro- 
thy” could still do with some of lhe editori- 
al expertise that Vosburgh has dearly 
brought to the Kem. 


mer at the restaurant piano: the greatest 
American performer- archivist of lost show 
songs is still doing a lot of Coward and 
Porter and Kero, but in there somewhere 
are some even rarer and more exotic gems. 
It’s not often, for instance, that you get to 
hear a song by Anthony Burgess composed 
20 years ago for a Broadway musical of 
“Cyrano de Bergerac." nor yet the “Wild 
Wild Weather" that was Coward's last and 
most heartbreaking love song. Both are in 
the Ross repertoire, amid many other trca- 


Over at the Ritz Hotel meanwhile. Steve 
Ross is back for his second successive sum- 


Away from the piano, the best news of 
the week is the Bush Theatre production by 

Simon Stoke of “California Dog Fight." j 
brief but immensely powerful new Ameri- 
can drama by Mark Lee. Set in the dust- 
bow) of rbe Sacramento delta, this is an 
80-minute account of the meeting between 
two rival teams at an illegal dog duel. On 
the one hand we have Vem. a lovable 
ranch-boss widower (John Shrapnel) strug- 
gling to find some son of beauty and mean- 
ing even in surroundings as demeaning as 
these. Helping him are a Butch Stud ( Dan- 
iel Webb) and his upmarket collegiate girl- 
friend (Lizzy Mclnnerv). while ranged 
against them are the wonderfully evil Raw- 
ley (Stuart Wilson), his Nevada casino-girl- 
friend (Deborah Norton) and a gun-ioung 
aide (Jimmy Chisholm) uho is as near to 
mentally defective as makes no difference. 

We don't get to see the actual bloodbath, 
but we do get to learn a lot about n> 
trainers and participants: “California Dos 


Fight" is the kind of (ale that Damon 
Runyon might have written had he gone 
West and turned a lot nastier. It is shot 
through with a weary cynicism about 
nun’s inhumanity to man and beast alike, 
but in there too t» a lyrical kind of nostalgia 
for a better West. 

Not for the first lime. Stoke has pulled 
together on minimal Bush resources one of 
the strongest ensemble cast' in town, and 
the result is a powerhouse of memorable 
performances. If you can imagine “Okla- 
homa" rewritten by the rotten and rotting 
Jud. you’ll haic some idea of what is ai 
stake here beyond the 51.500 ndmu oil the 
dogs: "This" as Notion memorably notes, 
“is God's eftvkpot and we re uhai\ cook- 
ing" “California Dog Fight" is Jr. acidly 
funny and unmissanle account ol the 
American success-dream becoming a 
nightmare: and to the old observation that 
there are no second acts in American axes, 
one might just add that there are no longer 
mom in a*, theaters cither. 


8 Stolen Artworks Found in Box 

The J.YJF-... 

SAN FRANCISCO — Eight artworks 
valued at around S50b.ti00. including two 
ink drawings by Pablo Picasso, were found 
to a box ar a shopping center after (hey 
were reported mining from from the Mu- 
seum of Modem An.” police said Tuesday. 
Police were tipped off hi an anonymous 
telephone call Monday. 


Figure mth whom students could 
riisnree easily. “Some couldn’t 
stand him for that” 

Rostal explains his approach to 
individual iwsrhing as a two-stage 
development: “At first the student 
does exactly what I ask in terms of 
technique and mnsiral ideas. When 
he has reached a kind of maturity, 
the reins are slightly loosened and 
one helps him to develop individual 
personality while sdH Keeping his 
overall development under check, 
dividing the good from the bad in 
whatever new things be tries.” 

Rostal adjudicate? at interna- 
tional violin competitions, and not- 
ed the increasing influx of Asians 
into Western musical carries and 
the abiding traces of national 
schools in me international world 
of music. “The Japanese are so 
wonderful at copying, and the tech- 
nical standard ts astounding.” he 
«>id “but sometimes their playing 
is lacking in personality. There are 
exceptions, of course, but cm the 
whole the Koreans have more per- 
sonality. Then in the United States, 
you find a tremendous affinity with 
the Russian school — • nd^d you 
can speak of a Russian school in 
Amenca, because most of the great 
American violinists are of Russian 
origin-" Jascha Heifetz, Isaac Stern 
and Nathan MUsrein, all of whom 
have had a major influence on new 
generations of American violinists, 
were all born in Russia. 

“That style is characterized by 
the highest degree of technical per- 
fection," Rostal said, “but in some 
cases it is lacking in what I would 
call European culture —the under- 
standing of the great German and 
Austrian composers, Bach, Beetho- 
ven, Brahms. Schubert and Mozart 
The understanding of these com- 
posers is not so near to thrir heart 
as to be a natural inheritance. Non- 
Europeans can sometimes get it — 
bat it is not quite natural to them. 
So styles of playing have been in- 
ternationalized only up to a point. 
And of coarse each interpreter 
must be capable of feeling the mu- 
sic of different countries. In that 
respect we are actors, tiying to play 
Spanish music in a Spanish way, 
Bartok in a Hungarian way.” 

He is optimistic for the state of 
the art ^We don’t know exactly 
how Paganini and Sara sate 
played,” he said, referring to two 
great 19th-century masters, “but I 
doubt if the overall standard in 
violin playing was as high as today. 
For me it has been an absorbing 
activity, combining the best of 
work and hobby. If you asked me 
what Fd do if I had my life over 
again. I*d say exactly the same.” 

Andrew Clark is a journalist and 
music critic based in Switzerland. 


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Fan AmAfou Can't Beat The Experience: 





Page 8 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


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23% 15\i AlldPd 18 

<0% 47% AlklStr 112 18 > 

124k 4% AUK Oi 
34% 2 i AllsCpt 
294, 20 AU.TL 
39!* 294, Alcoa 
22% 13% A max 
34 77V. AuiHes 

24k lVi AmAor 
21% 15% ABokr 
TO 55', A Brand 3.90 
30% 2448 ABrdpf 225 

115 56% ABdcsl 1AO 

. 30% 19% ABMM 26 

28% 20% ABusPr M 

40% 42% AmCan 2J0 5.1 li 

254, 22 AConpl 220 1IA 

52% 38 ACanpf 320 5.9 

114 103 ACan pt 1325 111 

20% (7 ACapBd 720 112 

307* 25% ACopCv 2J1e BA 10 29% 29 29% + 

11 6% ACeirtC 178 6 7% 7% 7% — 

54% 44 ACyan 120 32 14 2373 57% 5148 53% 

27% 1848 ADT .92 37 24 747 25 24% 25 + 

U> 17% AElPw 126a 9* 9 <795 23V. 22% 23% + 

49% 7748 AmExn 128 32 15 9815 4346 42% 42% — _ 

25% 9V. AFaml s M 22 14 290 23 21% 21*8—1% 

34% 20% AGnCP 120 32 9 7B24 32% 31% 3148 — 

14 6% AGnlwt 173 13*8 13% 13% - 

56 5148 A Gfll pf A 624el 12 SO 55* 55% 5548 + 

96% 594* AGnlplBS27e S3 15 8848 05% 85% —148 

77 45V8 AGnlol 325 47 5 49 69 49 — 1% 

714, 41 AGfl PfD 144 42 1148 64% *3% 63%— 148 

3448 25% AHerlf 120 14 II 1 35% 35% 35% + 

12% 7% A Hotel 213 12% 12% 12% + _ 

66% 44% AHome 190 4.9 12 4*14 61% 59% 5948—1% 

44% 2416 A HOOT 1.12 £5 15 4254 44% 44% 4448 + 

97% 4918 Am rich 440 7 2 9 1512 90% 89% 90 + 

90% 54% AlnGrp M S 23 I486 84% 83 B3%— % 

3% 18% AMI 72 28 12 2157 24% 2S% 2k + % 

5% 2% AmMot 452 318 3Vk 3% — % 

29 16% APresds .121 8 5 504 22% »% 20*8 + 48 

13% 5 ASLFIa A 289 4% 6 4*8 + 

18% 12% ASLFf pf 119 154 26 14% 14% 14% 

16 10% ASftlp 80 59 11 36 13*8 1348 13*8 

3»8 25% AmSId 1J0 50 10 393 33% 31% 32 + % 

67% 33% AUlStar A4 1.1 II 634 6148 5948 5918 —2 

78 46% AStTMA+Jt 42 2B3 71V8 69% 8918—1% 

57% 51 AStrpfB 480 114 BS5V8 55 55+% 

24% 17*8 AT AT 120 56 16 9601 21% 2148 21% 

4148 3118 ATAT Pt 3+4 9J 234 38% 3BV8 38V8— % 
« 32% ATATof 374 9J 1723 39% 3918 3948 + % 

27% ISVi AWotrs 180 4J 7 124 22% 21% 22 

28% 19% AmHotl 140 114 8 142 21\8 20% 20% 

IB 4% ATrSC 101 IS 14% 14% — % 

40% 214% A moron 141 U I 9 38% 38 38 — % 

50 34% AmesD 20 J 21 450 44% 43% 44 — % 

»% 22% Ametefc 80 33 13 151 24% 24% 24% + % 

28% 18% Amfuc 354 2744 2748 2748— % 

16 4% Am [esc 5 42 7% 6% 7% + % 

69 50% Amoco 3J0b 51 8 1782 45% 64% 65 +48 

38% 28% AMP 72 AT 24 2473x 3446 34% 34%—% 
74 11% Ampco 20 2.1 19 47 1418 14 14% + % 

2348 1248 Am rep 5 12 2D 22% 27% 27% — % 

. 34 21% AmSta Id 43 I 111 14 32% 33%— % 

43% 28% AmsJed 140 40 IS 61 40% 40% 40%— % 

4% 148 AflOCmn 1409 3% 34* 3% + 4k 

34% 16V. Aniog s 21 39 23% 23'6 21% + % 

279k 19W Aftcftor 148 54 111 26% 24>A 26% — % 

46% 28% AnCloy 132 32 36 117 42 4148 41*8— % 

12% 9% AndrOr 20 17 14 55 1V% 114, 1148— % 

27% 17 Angelic 40 2J 14 24 2S% 25% 25% + % 

34% 204, An heus s JO Z5 12 3Q56 31% 31% 31% + % 

. 71% 48 AOtlOU PI 160 5 J 50 66% 4S% 45% + % 

19% 13% Aftlxtr 28 17 18 53 16% 16% 16%—V8 

' 16% 9 ArTtftem J4 J 20 182 13% 13% 13%— % 

■ 15% 10% Anltmv A*b M 9 15 14% 14% 14% + % 

13 9% Apache 28 24 10 81 10% 10% 10% 

2 % ApchPwt 48 l % %— IL 

19% 15% ApchPun2.I0 112 392 18% 18% 18*4— % 

67 51 APPw pf 7+0 11 J 100ZA4U. 64V. 64% — 1% 

^448 SB ApPwpl +18 12J 8 33% 33«8 33% + V6 

•31% 24% ApPwpf 3J0 124 9 30% 30% 30V. +1% 

39% 18% ApIDIO 1.761 64 24 64 34% 24% 2448 + % 

15% 8 ApPlMg 64 121 14% 1348 14 — % 

34% 15% Arch On .140 7 13 7377 21% 21 21% + % 

30% 22% ArIP Pf 328 122 18 29% 2*48 29% + % 

24% 14 ArUBst 40 17 9 5Q23%23 23%+% 

24% It Arkla 128 58 25 1376 18% 18% 18*8 

*k % ArhlRt 239 % %— Ik 

13% 6% Armca 1348 10% TOW 1018 + % 

23 15% Armcpf 2.10 94 7 21% 21% 21*8 

24V, 15% ArrmRb 48 32 8 71 15% 15V* 15% 

yni 25% ArmWln 120 34 10 674 36% 35V. 36V. + 4, 

34% 19% AroCp 120 43 7 14 28 Z7W 27*8— % 

25 Vi 12% AniwE 2D IJ 19 140 15% 154* 15% + % 

30V. 16 Arfra 22 J139 10 38 27% 27% — % 

27 14% Arvln s JO 34 * 192 23% 2318 23%—% 

27% 17*8 Alftrco 920 23% 22% 22%— % 

37 21% Ash I 011 140 47 428 34 33% 33%— % 

44% 33% AsfllO Cl 450 102 34 44% 44 44% + % 

44% 31% AshlOpf 374 *2 14 43 43 43 

49% 49 AsdDG 260 41 10 1231 44% 63% 63% — % 

24% 18% A intone 1^0 72 II 11 21% 21% 21% — 18 

29% 201* AtCvE! 258 9J 9 2SB 26% 25% 2&V8 + V* 

64 Vi ■»% Aft Rich 400 47 3842 60% 5*% 59%—** 

41 32% AfJRcpf 175 97 440z 38% 38% 38% — 118 

153 97 AllRcPl 280 20 8 144*8 143% 143% — 1% 

18% 10% AtIPSCs 15 12% 12** 12% 

32% 18% Aupat JO 1 J 21 V4C 25% 24% 24% — 

S4% 34 Vj AirtoD! JB U 22 658 51% SOW 51 — % 

5 4% Avalon n 8 84 5 4% 4%— % 

31% 17V* AVEMC 60 20 14 18 30 30 30 +18 

39% 25% Avery JO 17 14 345 34*8 34% 34*8 

18% 10 Avlall n 10 1*7 17% 17% 17% + % 

41 27 Avnel JO IJ 18 1348 33fh 33 33 — I 

25*8 17% Avan 200 8.9 11 111* 22*8 22 2S% + % 

30% 16% Avdln 13 12 30% 20% 20V8 — % 


NYSE Prices Finish Mixed 


Compiled Av Our Staff From Duparcka 

NEW YORK. — Prices turned in a mixed 
showing Tuesday on die New York Stock Ex- 
change, leveling off after Monday’s broad de- 
cline. 

The Dow Jones average of 30 industrials was 
up 224 to 1,346.1 at the dose, but declines 
outpaced advances by about S to 4. Volume 
totaled 102.27 million shares, up from 93.96 
million in the previous session. 

TheNYSEs composite index edged up .08 to 
109.88. 

At the American Stock Exchange, the market 
value index was down .SI at 233.03. 

Analysts said Monday’s Big Board drop 
prompted some further selling early Tuesday to 
cadi in profits from the market’s iate-spring and 
early-summer rally to record highs. 

Wall Street has turned cautious as interest 
rates have stopped falling and moved back up a 
bit in recent weeks. Some doubts have been 
voiced over whether rates got low enough to 
foster the kind of revival in economic growth 
that many market participants have beat hop- 
ing for. 

At the same time, progress toward reducing 
the federal budget deficit has proved to be 
elusive. On Monday, President Ronald Reagan 


rejected primary elements of a Senate budget 
proposal including a proposed S5-a-banel tax 
on oil imports. 

However, as Tuesday’s session passed sel 
pressure proved to be light, and blue-chip issuei 
began to attract some buyers. 

Eastern Airlines led the actives, gaining % to 
9ft. A published article said some analysts be- 
lieve the stock can make further puns now that 
the carrier is earning a profit 

IBM gained ft to 130ft. Digital Equipment, 
which fell ft Monday, rebounded 1ft to 100ft. 
T exas Instruments, which dropped 3ft Monday, 
jumped 1ft to 104ft. 

Elsewhere, Cray Research fell 1ft to 95 and 
Data General eased ft to 40. 

Union Carbide, which announced a reorgani- 
zation of operations, jumped 1ft to 52ft. The 
company said its business has shifted into spe- 
cialty sendees and growth businesses. 

William Lefevre of Purcell, Graham & Co. 
said the stock market responded ^positively to 
news that U.S. Sled Coip. raised ns dividend. 

The company increased the quarterly payout 
to 30 cents per share from 25 cents. The compa- 
ny also reported second quarter earnings of 93 
cents per share compared with SI -04. U-S. Sled 
stock rose ft to 30ft, a 52-week high. 


12 Month 
High Low Stack 


Dlv. Y14 FE 


Ste. 

Mb High lm 


CUM 
QuoLOTge 


B 


IB** 10 BMC .121 

35% 24 Balmco JO 

19U 15 BhrlnH .92 

24% 18% Baldar 24 

2% % vl BaidU 

9 2 viemu pf 

59% 29% BatlCo 128 
23% 11% BaUVMf 20 
12% 7% BallvPk 

46»i 23% BalfGE 3JO 82 

48 38 Ball Ptte 450 UkO 

35'A 21% BncOna 1.10 33 II 

10% 8% BocCfr n 54a 56 

5% 2% Ban Tex 

42 45 Bandas 120 2.1 12 

55% 29 BfcBOi Ml U S 

52 49% BkQ DfB .99* 17 
47% 24% BkNY 2J4 47 7 

33% IS', BanKVa 1.13 4J 8 

22% 14% BnkAm l_S2 9.1 

47 40 BkAm ri S.Uoll.9 

16% 12% BkAm Pi 2JB 

221* 24% BKARty 2,40 

75% 40% BcKHTr 2.70 

27 19% BhTr of 220 

44% 35 BkTi-pl 422 

13 7% Banner JO* 


22 14 
1.1 

13 


BJ 12 
40 7 
97 
92 
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-I2t> 13 II 
78 14 » 
27 ' 

20 


326 62 
24 10 59 
120 11 M 


26 17 10 
4JM 77 9 
228 

33 IJ 15 
2J0 8.9 9 
20 IJ 24 
IjOO 32 10 
2JO 52 10 


39% 19 Band 24 12 15 

24% 19% BarnGp JO 13 15 

41% 21% Barnet 8 1 M 23 11 

33% 17 BoryWr 20 XI 14 

13% 9 BA5IX 

35% 21% Bainct) 

18% 11% BaxfTr 

27% 18% BayFhi 

34% 22% BavSIG 220 49 B 
38% 30 Bearing 1J30 23 12 
33 25 BealCo 1J0 6.1 6 

40% 44% Beal Ft ' 

15% 12% Be cor 
5Uk X«> BectnD 
B% 2% Befcer 
If 4 Baker rt 170 322 

17% 12% BeldnH *0 7.4 10 

35% 22% BelHWI 
97 72% Ball All 

33 24 BCE 0 

77% 19% BelJlixS 
44% 2918 Belisau 
57 41% BolaAH 

31% 22% Bemis 
4S% 25% BanlCP .... . 

19% 17% Boned n ijg 67 

6% 3% BenglB 371 

8V8 3% Berfcey 82 

15 10% Bed Pd 34 IJ 33 

21% 14% BelhStt jo 23 
49% }7U BcmsiPfSJO 10J 
Mi, 18% BofhS IN 220 106 
40% 25'. « Bevorlv 23 
26% 19% BlgThr JO 
74% 13% Bfocf I n 
24% 17% BlockD M 
34% 51', BldcHP 1.92 
31% 14% Blair JR 24 
58% 39% Biel HR 2J0 
50% 30% Boeings 1JM 
51 34 BoiSeC 1.90 

61 44% BolseC PlSJO 

29% 17% BoilBer ,10 
4?% 28% Bardens IJ2 
54% 16% BorgWu .92 
9% 4U. town 
44V* rrn BtnEd 324 BJ 
85 43% BnE pi 828 112 

11% 9% BciEur 1.17 1(U 
l«8 10% BasEpr 1.49 10J 
25% 19% Bowalr .22 W 
31% 25% BrlgSI 160 ' 

43% BrisiM 1J8 
136% 92% BrsfMpf 2JW 
4% 3W BrliLnd 


328 10% U 10 — % 
IJ 12 145 28% 3BV, 28% 

S.l 15 1234x 18% 17% 17**—% 
IJ 15 ISO 22 21% 22 + % 

132 1% 1% 1% 

1 5% 5% 5% 

72 59% 58% 59% +1% 
785 17% 17% 17% + 

161 11% 11% 11% 

9*1 41% 40% 41% 

80* 45 44% 45 

128 33% 32V. 33 + % 

4 9% 9% V%— V* 

165 2% 2% 2% + V* 

3 58 57% 57% — % 

484 50% 49% 49% —IV* 
158 S2’, S3 52 
960 43% 43% 43% + % 
405 24 25% 24 + % 

9013 17U, 16% 16% — % 
533 4J% 42* 4J%-% 
215 16 15% 16 

15 30 29% 29% + % 

917 67% 67 67>A 

540 25% 25% 25% 

M 64% 44 44 — % 

133 11% 11 11U— % 

654 37% 37% 37U — V, 

109 24% 24% 24U— % 
206 39 38% 38%—% 

152 20 19% 19%— % 

162 9% 9U. 9% — V* 

804 37% 32% 32%— Hi 

22 73 2849 14% 14% U% 

.7149 2 24% 24% 26% — V* 

97 29% 29% 29%— % 

22 34 35% 35% - % 

1558 29*8 29% 

B 55% 54% 54%— % 
141 15 14% 14%—% 

421 56% 55% 54 — % 

971 3 2% 3 

132 5U 49k 5U + I* 

35 16% 14% 16% 

24 32% 32% 32'4— V, 
2*26 88% 87% 88% + % 
106 31% 31% 31% 

163 23% 23% 23**— % 

2739 40% 40 40% + % 

10 53% 539* 53**—% 

4 31U 31 31 — % 

262 40% « 40% — 1 

23 17% 17% 17% 

2S5 5 4% 4% 

39 7% 7% 7% 

19S 13% 13 13 — % 

876 18% 18V* 18%— % 
34 46% 46% 46% — % 
„ 40 23*6 23% 23% — u 

19 1252 36% 35% 34% + % 
12 18 574 25 24% 24% + 16 

63 22% ZT% Z»h + % 
645 19** 19 19% + % 

93 33% 329* 329*— % 
1870 18% 14% 18% +19* 
26 57% 57% 57% — % 
2J 14 4048 46% 45% 46 -% 

41 20 1636 47% 44% 46% — ** 
15 27 g 58 58% — % 

A 28 89 27 2a% 77 — % 

41 10 2723 37% 36% 37V4 +1% 
40 12 3242 23% 22% 22% + % 
14 45 9% 9% 9% 

7 358 37% X 36% — % 
128180% 80% 80%— % 
22 11% 11V. 11% + u 

11 13% 13% 13% — % 
1078 23* 22% 23%— % 

59 28% 28% 28% 

II 16 4182 60% 40 40 — % 

IJ 92 127% 127% IJ?*, — V, 
14 13 4U 4% . 4U 


37 
13 16 

5.0 a 

3.0 

42 15 


9 

52 11 


29% 21% BrllPt IJOedJ 8 

24% 22 enTJpp Jit 22 

S% 1% Brack 

28 16% Brtkwv 122 40 23 

41 28% BkvUG 113 82 7 

25% 19% BkllG Pf X47 102 

37% 29 BkUGpf 3.95 112 

26% 13 BumSh 20 .9 8 

30% 22% Br*mGf> 126 45 20 

56 31% BrwnF 1.06 21 17 

40% 28', BrruwH 1DC 17 0 

40% 29 BrsMM 23 12 15 

20 15% BurUcrH 2.16 11J 

21% I4U BurtnCt 12 

30% 21 Burund 124 AD 

68% 3B BrlNIh 120 22 9 

7% 6% BrtNOPf 25 73 

23% 19 BdNpf 212 92 

52 46% BrlNpf 

IB 1 - 11 Buntov 

46% 50% Burrgft 

30% 12% Bultrln 

7 1% Buttes 

15 3% flutes pf 1J5I 


158 29% 29% 29% + % 
212 26% 26 26% + % 
147 29k 2% 2% 

139 27V. 27 271, + % 

ISO 37% J7Y. 37% + % 

54x 24% 24 24% + % 

Sx 34 33% 34 + % 

14 22% 23V. 22% 

1M 30V. 19% 30V, + % 

505 52 51% 51% + % 

394 38% 36% 36% — % 

302 33% 33% 33% — la 

17 18% 18% 18% + % 

124 17V6 17 17% + «, 

142 27% 27 27%—% 

941 65% 64% 65 

2 7 7 7 

17 23% 23V. 23% + % 
1542 52 514, 52 + % 

109 129* 12% 12% + % 

41 12 5778 64% 63% «3%— 4* 
32 87 838 17*6 17% 17%— U. 

977 3Va 2% 3 + % 

209 6U> S', 5% + % 


SJSelOJ 
J4 3J 20 
220 
22 


31% 214* CBI In 
123 68% CBS 

85 52% CBSnl 

8% 44. CCX 
40% 29% CIGNA 
31% 23% CIGpf 
53% 50 CIGpl 
7% 2% CLC 
59% 25% CNA Fn 
11% 9% CM At 
30% 14% CNW 


IJOn 5.9 11 42 23% 23% 21% + % 

320 2J 20 4429 117% 116% 1144*— % 
120 12 3 80% 80% 80% — 1, 

9 6 5% 5*, 54 

220 49 65 3123 54’- 53% 53% — % 

175 9.1 418 30% SO 30% 

410 82 153 50% 50% 33 V* 

159 2% 2% 7%— V, 
16 90 53% 52% 53% + % 

124 ll.| 2 11% 11V* 11% 

143 20% 20 70 — % 

46% 35% CPC lilt 120 52 11 UE 42% 41% 41%—% 

26 14% CP Nff 1.40 44 9 78 22% 22 22 


22% 19% CRIIMI 
28% 19% CSX 
40% 24% CTS 

12% 74* Caine 97 

3344 27% Cabot .92 3J 10 
144* 8% Cranr 16 

254* 11% Col Fed 28 22 4 
54% 32% CclFdpf 475 92 
20% 13% Callhn 25b 12 
IS II* Cofflml .12 J 
25 15% CRLkg JO 

7% 3 CmpR a .161 

80% 60% ComSo 150 15 12 
40% 37V* C«mS wl 
15% 944 CdPacs J8 

27% 14% ConPE O £0 
228% 150*, CnoCHk 20 20 

27% 15% CapHOS .77 14 10 
109% 100% Co OH pf 1057* f J 
14V* 10 Curing g +3 
4011 29% Carlisle 122 32 9 
24% 15% CoroFI JO U 12 
30% 20 CorPw MO U 7 
25% 20 CarP pf 227 102 
48 35% CorTec 2.10 52 10 

11% fl% Canol JJ7 - - 

24% 17% GorPIrs 
31 19% CnrTHw 122 

46% 21% CarlWI 22 

18% 9* COTCNG 120 
16% 9V* CastICk 
12 io antic <*i 

29 15% CSlICpf 1J88 

15 12 CStICpf 20 62 

40V. 28% CatrpT 20 IJ 

27% 18V* Cm Ji 30 11 

129% 63% ceturae 4a0 12 IV 

IS .7% COnovn J3e J 22 
45 34% Cental 228 52 9 

26% 17 Centex n 25 u> 12 , 

27 17% CenSoW 203 BJ 7 5313 23% 23% 23% + % 

31% 18 CenHud 22# I0J A 263 26% 28 2S% 

21% 15% CnllPS 124 82 10 1313 19% 18% 194* + % 

29% 18% CnLaEI 208 82 7 389 24% 24% 24% + % 

37 30% CLoElpf4.10 119 

13% 8% CeMPw 1J0 112104 

21% 13'm CVIP5 1.90 10J 6 


2J7el(Ll 105 20% 20 
1.16 41 10 2410 28% 27% 28% 

1J0 X9 175 35% 35 35 — % 

- 384 846 1% 8% 

380 26 25% 25% 

489 >5% ISM* 15V. 

745 22V, 21% 22V* + li 

157 51 H 50% -51% + ** 

103 19% 18% 19 - % 

X 14% 14 14% — % 

399 34% 24 24% - V. 

43 3% 3% J%— % 

541 73% 71% 71% — 2% 
8 36% 34M. 36*6-1 
53 14% 14>, 14% + M 
588 20% 20% 20% — % 
715 712% 208 211 +44* 

745 22*4 22U. 224, + % 

•E io s£ 'sas’Ki + ^ 

77 10% 10% 1D% 

33 31% 31% 31%—% 
42 24% 24% 24% 

946 24% 36% 26% + % 
15 25% 25 25% 

331 41% 40 40 —2 

67 8% 8% Ft- % 

64 23V* 22% 23% + % 
537 28% 27% 27% — % 
3*4 45?* 44 44 —19k 

80 15% 15% 15% — % 
461 11% 11% 11% 

33 11% 11% 11% 

20 25 25 25 

23 13% 13% 13% 

208« 36% 35% 36%—% 
183 25% 25% 25% + % 
535 V24 171% 173% +1% 
53 7% 7% 7% 

242 41% 40% 40% — % 
82 25% 25 25% + % 


12 
9 

42 10 
12 15 
72 7 


JO 62 9 
220 1X1 8 
.70 22 12 
JO IJ 21 
JO 1.7 


11% 7% CentrOf 

12*6 7% CnlrvTI 
23% 18% Cenvlll 
a% 15% Crt-taed 
24% 16% CessAir 
25% 14% Cfimpln ... ... 

54% 43% Chcm p< 460 U 
10 B ChumS© JO 43 17 
4V* 1 vlChrtC 
1** % vlChi wt 

4% 1% vIChrtpf 

63% 35% Chase ISO 47 i 
*8% 38 Chose pi 525 112 
54 M. 50 Chase pf *29*11.4 
57% 51 Chase pflQJ4el «.l 
72% 15% Cheteno 23 32 9 
34% 24% Chained 122 49 13 
44% 25% CbmNY 228 6.1 6 

39% 32 Chespk 124 32 11 
38% 31% ChesFn 
39 29V, Chevm 

200 127 ChIMIw 

J9*6 16% OlIPnT 
11% 7% CflkFull 

54 28 CflTlSCr 

»% 5 airlsm 
13% *% Chroma 

38% 25% Chrvslr 

77 39 1 * Chubb 

43% 50% Chubb pi 425 
20% 12% Church s 24 


220 

2.40 


120 

220 


222 92 
X12 62 8 
2.16 122 7 
4JM 11.9 
4TS 122 
920 122 
928 127 

JS 7 110 

22 32 28 


27% 20 Cllcarp 
51 36% ClnBell 

19% 10% OnGE 
34% 24 CinG FI 
39% 26% ClnG pt 
74% 50 ClnG pf 
73 48 ClnG pi 

75 n ClnGpf 
36fk 18% ClnMil 
37 23% ClrdK 

31 ClrCH* 

X |4% Circus 
51% 29% cuierp 

84% 70 Clt ICO Pi 727* 92 
HKF6 82% aiCP PIA925* 9J 
41% 28% atvlnv 720c 
9% 4% Cloblr 
29% 7% CtalrSt 
32% 21% ClorkE 
16 7>k OavMm 

22% 17 CIvCII 
33% 14% ClevEI 


15 35% 35% 35% — % 
634 12% 12% 12% — % 

95 18% 1816 IBM — % 
550 3% 3% 3% + % 

170 12% 12 12 + % 

12 19% 19% 19% + % 
232 27% 26% 26%— % 
240 22% 22% 221, 

1635 34% 23% 23% — % 
7Q 52% SX% SZ%— % 
455 9% 8% 9% + % 

% 3 * 3r+ + * 

156 3% 2% 2% + % 

1263 56% 54% 56% + « 

13 47V. 46% 47 — % 

10 55% 55 55% 

69 55% 55% 55% — Ifa 

4 21 21 21 

87 31% 30% 30% + % 

1175 40% 40U, 4Q%— % 

16 37% >7% 37% — U* 

521 32% 32% 32% — % 

2427 38% 37% 37%— % 
4 139% 1J9% 139%— Vi 
131 24 25% 26 + Vi 

20 8% 8 8 — % 

12 47% 47 47 

39 11% 11% 11**— % 

41 11% |1 11% 

2-9 3 10584 35% 34% 35 + % 

32 12 969 48% 47% 68% + % 

72 *0 59% ^ 59V* + % 

26 IS 4207 17 16% 17 + % 


42 
62 

115 
2D* J 8 
241 3J200 
J8t U 

185 


140 24% 24 24% 

125 48 47% 47% — Vi 

1069 17% 17% 17% + 16 
770z 33% 32 33% +1% 

3001 38% 37 30% +1% 

8802 72% 71 72% +1 

370i 73 71% 73 +1% 

60z 74 7316 73% + % 

339 22% 21% 22% 


22 14 1047 33 


+ % 


226 48 


5 
S 

40 

15 M 
IS 

1J0 49 10 
252 11.1 6 


.72 10J 
.10 J 
1.10 


64% 47 avElpi 726 120 

14% O', Clevnk 201 
17% 10 Clvpkpf 1.111 
19 10 Clvpk Pi .921 

W, V Clara* 

24% 14% ClubMn 
38% 24% CluetfP 
24% 16 Ctuet Pi 
21% 12% Coach m 
36% 15% Coast! s 
74% 58% CocaCl 
19% 10 Coleco 

34 25% Cofeflln 

28 20% CoigPai 

24% 14% Col Aik a 
25 12 CalR&s 

29% 3*% Col Pen 1JO M 
45% 41% Colli RO 220 42 

35 243, CofGOS 118 111 

52 48 ColGSPl 5J8 10.9 

28% 22% CSOpf 145 
21V. 16 CSOpf 2J2 115 
no *6% CSOpf OI525 141 
100% 99% CSOplniSJS 142 
S» 27% Contain 2.14 46 


37% 24% CmbEn 
18% B Camels 

20 15V* CucTUVm 

333* 8% Cumdre 
32% 24% CmwE 
18% 13% CwEpf 
18% 13% Cl*E Pf 


106 

76V* 


24% 18% CwEpf 
24% 20% CwEpf 
74% 515% CwE pt 
45% <7% CwE Pf 
30% 18% ComES 
38% 22% Comsat 
35% 231, CPWC 
35% 25 Comoor 
20% Il'A CompSc 
44% 11% Cphtefi 
39% 23% Con AO* 
20 13% CamiE 

31 2DV* CrtoNG 


CwE Of 11.70 10,9 
CwE Pl 828 112 


12 00 22% 71% 27V* + % 

14 1102 27% 26 27% — V* 

7 3553 47% 46% 47% + % 
13 83% 83*. 83% + % 
100 99% 99% 99% + % 
1183 29% 38% 29% + % 
88 4% 6% «%— M. 

786x 24% 22% 24 Mi +1% 
271 32 31% 31% + V* 

254 MU 13% 141, + % 
46 30% 20% 20%— % 
1117 22% 22% 22% + W 
502 63 63 63 + Vi 

564 13 12% 13 

87 14 13% 13% — «. 

56 13% 13% 13% — % 
1-36 3J 12 2773 36% 36 36% — % 

.10e J 21 95 26% 25% 36 

1J0 2JI9 907 3716 36% 37 — Kr 

1J0 43 31 23% 23 23%—% 

JO S3 18 141 13% 13% 13% 

JO 12 11 188 30% 30% 30%— % 

226 42 14 21 SO 71% 70% 7T% + % 

803 17 14% 17 + % 

120 40 22 93 30% 38 30V.— % 

128b 45 41 5039 2B%27%27% + * 
J4 22 8 1301 23% 23 23— % 

.16 .7 17 131 34% 23% 23%—% 

219 27% 27% 27%—% 
1073 «F- 58% 60 + % 

139 30% 30% 30% 

i sow. am sow - % 

173 28% 27% 281* + % 
9 21% 21 21 — % 

202108 1 08 108 —1 
250*107% 107% 107%— I ft 
602 47% 46% 46% — % 
181 30% 30% 30% + M* 
424 Wfc TTW 1BW + % 
18 17% 17% 17% + % 
1844 11% 111* 11% 

6877 30% 29% 30U + ft 
34 17 16% 16% + V* 

8 17ft 17% 17ft— V. 

3270x107 107 107 +1 

500* 7314 72V. 72% +1% 

1 24% 34% 24% 

9 25% 25% 2S%— % 

600: 74 74 74 +lft 

9ttt 62 62 62 

58 37% 36% 27 — ft 
278 36% 35% 36% — U 


100 93 
1.90 UA 
2M IU 


40 11 
1.1 10 
2J 16 

4 


237 9J 
187 11.1 
8J0 11J 
734 113 
222 93 


6 

33 11 


J22«64 30% 39% 30ft + % 


J7 

1J0 

140 

JO 


11 9 
10 
58 
25 13 
9J 10 


15ft 12% Conroe 
38 26% Corned 140 . 

47% 35V, CORE pf 465 105 

50 39 ConE pf 500 10J 

36 23 CireFrt 1.T0 XI 12 

47% 31 CiKNG 232 SJ B 

8% 4Va CnnsPw 
31 IJft CnPpfA 4.16 1X9 

33% 16 CnPplB 450 122 

54% 24% CjiPpID 7.45 142 

56 26V, CnPpfE 132 142 


21 29% 28% 29 + V* 

329 19% 19ft 19% — M* 
Jffi 16ft 16ft 1614 — U 
177 36 35 35ft— ft 

13 18 17% 17U— ft 

46 28% 28 ’A 28ft— ft 
106 13ft 13V, 13% 

5862 33% 33% 33% + U. 

7800x44% 44% 44% + ft 
9 46ft 46 46ft— % 

311 35% 34ft 35 — V. 
390 40ft 40% 40% — % 
920 7% 7% 7% + ft 

30* 30 30 30 — U 

24fa 33 33 33 +1 

330* 9 Sift 51ft— ft 
TOO* 54% 53% 54ft + ft 


13 Month 
High lot Stock 


Div. Yld. PE 


Sb. 

SQjHttLOT 


Close 
Oval, dig* 


56 26% CnPpfG 7.76 140 HU SSVi .55% 55V. — Hi 

31ft 13V* CnPPTV 4J0 141 31 30V. 2Pft 29% —1 

35% 1QV; CnP OTU 3J0 149 43 M% 14 24ft + ft 

28% 11% CnP or T 328 148 26 24% 25ft 25ft— % 

54% 26ft CnPpfH 7J8 141 lOte 54% 54% 54% + V* 
28% 12% CflPprR 400 143 74 28 24ft 21 

23V. 17 CnPprf* 328 149 8 26% 24% 26% 

281* lift CnPprN 325 14J 10 26% 26% 24% 

T7 7ft CnP PrL 223 143 15 1* 15% 15ft— ft 

29 12% CnP prs 402 142 29 20% 771* 27V. 

18 7% CnP DTK 2J3 142 10 H 14% 17 

47% 2416 CnttCP 2J0 43 20 576 41 40ft 41 

10ft 4% Carlin 16 201 7V. TV* 7ft— V* 

4% % CoaTtlIrt 153 -1% 19* 1% 

SOft 28 Cnllllpf 7 50% SOft 50% 

4ft % ClIlHfln 1291 1ft 1 I — ft 

12 4% Cnt info 8 61 11% 111, 11M.— ft 

24% 19% ConTTH 1J0 8J 8 515 22% 22% 22ft— ft 

38% 24% CIDoto 32 2 7 1158 27 2616 26%— ft 

3Sft 26% Conwd 1.10 11 13 64 35 2S S 

TV. 1 vlCoofcU 15 1ft 1ft 1ft 

38% 27 Coopt 122 41 17 207b 37% 37 37ft + % 

41ft 30ft Coop I pf 220 72 146 39% 39% 39% + ft 

20% 13ft CoorTr JO 22 7 96 15% 15% 15% 

27 15 COOPUlI JO IJ 17 1542 24ft 23% 34 — ft 

19U 9Va Coowto 221 11 10ft 10ft 10V* ♦ ft 

24% 19ft Ccvrtdpf 2J8 11J 4 21 21 21 — % 

279* 17ft Cor dure JJ3J 16 30 24ft 24 24% + ft 

15ft 10% Coreln 26 43 12 78 13 13 13 +• ft 

48% 30% ComGs 1J8 2J II 958 44ft 45% 46 — % 

48% 26V* CorBIk 1 JO 2.1 347 47% 47% 47% — % 

10 4ft Craig 7 8% 8% ..«% 

39ft 32 Crane 1 20b 4.1 It 14* 39 an, 39 — ft 

100 44% CrovRs 25 1442 97M> 95 95 —1% 

19% 17ft CrekNnft.1l 11J 85 18% 18ft 18% + ft 

51% 49ft CrckN pf 1J9* 22 33 51% 51ft 51ft 

23% in* CrmofC 130 5.1 12 172 23ft 23ft 23% 

*9% 36ft CrwnCk 13 363 64% 63% 44%—% 

44% 27% CrwZH I JO 22 18 HE 38% 38 38ft— ft 

50ft 43% CrZMpt 423 102 301 44ft 44% 44ft— ft 

50% CrZ*lpfC420 72 8 51 57ft 57ft— % 

70% Culbro JO 25 18 12 32ft 31% 32% + ft 

17% Cullnets 32 

58% CumEn 221 U 4 
8ft Currlnc l.TOalOJ 
30% CuHW 120 33 16 
29% CyclOPS 1.18 22 9 


3£ 

10 % 


550 26% 25% 21 
271 45% 64% 46 — % 
3* 10ft 10% 10% 

2 34% 34% 34% — ft 
24 44ft 44% 44% — % 


23ft 16% Dallas 26 
15% 9% DamanC 30 
30% 71% DanoCo 130 
9% 5% Dcnotir 

IS Eft Daniel 

r 23% OarTKrs 
31 OatoGn 
33 lift Do mm 
4% 4 Daw wl 

12% 8ft DtaDso 
21ft 12ft Dav co 


17 11 

)J 

49 8 
13 

MU 


11 11% IS 18 
19] l|% lift 11% + ft 
544 26% Z - 

Vt '*» f*-* 

100 9% 


2J 11 
13 11 

40 

1.9 14 

- I 


103 77 Oarcpf 425 

45% 29ft DayfHd 34 ... 

20ft 12% DayfPL 2J0 11.1 

46 45 DPLpf 737 123 

104 79ft DPLpf 1220 123 

40% 24 DeanFd 26 12 19 

33ft 24ft Deere 130 32 28 

26% 18% OefmP 132 83 9 

52% 30 DeltuAr 1J» 2.1 7 

7 4% Deltona 

44% 21% OtkChi .92 22 17 

28ft 18% OcfiMfs 130 42 13 

37% 27ft DeSola 1J0 41 10 

17% 12% DetEd . 1JB 10J 7 

80 59 OttE of 9JQ 123 

67% 48 DelEpf 7j8 11 J 

tf% 46ft DelEpf 7J5 313 

64% 46% DefEpf 734 112 

25ft 19% DEpfF 2.73 108 

28% 20% DE prR 334 123 

27% 19% OEpK) 3.13 12J 

271* 19ft DEpfP 3.12 122 

25W 20 DE etB 275 10 J 

29 1 , 21% DE pfO 3J0 118 

29% 21% DEFfM 3J2 12J 

33ft 24ft DE prL 400 122 

34% 25ft DE pfK 412 13J 

209* 14ft DefEor 238 11 J 

24 lift Dextar .80 33 11 

14ft 9% DIGfor J4 43 

29ft 21% DlGiOpf 125 7.9 

21 15% DtemS 136 10-1 

38% 34%.Ota5hpf 4 JO 103 
11 6Mt DtanaCp .15* 15 3 
59 37 DtobtoS 1J0 ' 

125% 82% Digital 
95 52% Disney 

28ft 15 DEI S 
6V. 3ft Dfvrsln 

ITft 6% Domeg 

34ft 23% DOmRs 
21ft 14 Donald 
61ft 38% Donley 

33ft 23% Dorsey 

42ft 32% Dover 

37 24% DowOl 

51% 36V, Dowjn 
15% 11 Drava 
24% 15% Drew 
21ft 15% DrexB 
65% 28% Dreyfus 
61ft 44 duPont .... . 

40 31 duPntpf 35B 93 

SO 39ft duPntpf 450 9J 
35ft 25ft DukeP 2J0 8.1 
85ft 46 Duke Pf 830 W-S 
80V* 61 Oukepf 830 105 
75ft 57V* Du kept 7J0 117 
27 22% Du kept 269 10.1 

35 29ft oukepf 3J5 1L2 
107% 93ft Duke Pf 11-00 102 
87% 66% DukpfM SJ4 105 
wjv. mvs Dukenf ta ftJ 
83% 57ft Dunflra 120 19 21 
17ft 12 DuaLI 104 125 7 
18 13 OuapfG 210 120 

18 13ft DuaPrK 210 120 
20% 14ft Dlrtpr 131 120 
25ft 22 DgOPf 27S 112 
62ft 43ft Duo pf 730 113 
lift Sft DvcoPf JO 45 II 
26ft 18 DynAm 50 J 12 


25% 25ft 
9ft 9ft — 

as ssUsvs 

528 129* 12% 124* + % 
14 4% 4% 4% 

39 9ft 9ft 9ft 
3*5 21% 20ft 20% + Vj 
10QZ1Q5 105 105 +6ft 
2105 38ft 38 3Sft- % 
B8£x 10ft 17% 18 
4OOV40 60 40 — 1% 

100y *8ft 98ft 98ft— 2ft 


134 


37% 37ft— 1% 


1495 30^ 28ft 29 —1 


70S 23ft 23 23ft + % 
1171 43% 48% 48ft + ft 

37 5ft 5ft 5ft 

800 38% 35ft 37% — 1%, 

12 24% 25% 24% + ft 
20 33% 33% 33% — % 
1775 14% 15ft 14ft 
AOx 75ft 75V* 75ft — ft 
34% 44% A4ft 64ft— ft 
270x «5 63ft 63ft— % 
S30x 43% 62% 67% — % 
145 25V* 25ft 25ft + ft 
31 26% 26 26% + % 

38 24ft 25% 26 + ft 

52 26 25 

81 25V* 25 25ft + ft 
49 27ft 26ft 26%— % 
157 27% 26% 27V* + ft 
16 31% 31 31% + ft 

18 32% 31% 31%—% 
10 20% 20 

70 21ft 21% 21% — ft 
145 15% 15% 15% 

7 28ft 28ft Sft 
1366 17% 17% 17% + ft 
43 37ft 37 37 

... 43 VO 9% f%— ft 

27 11 1«7 37ft 37 37% 

13 3812 101 99ft 100ft +1% 
120 lJ 47 719 87 84V* 87 — % 

1J0 62 6 123 23 22V* 22ft— % 

3 11 5% 5% 5V. — ft 

1864 Sft 8ft E%— ft 
9.1 9 2473 29% 28% 29% + % 
XS 9 14 18ft 18% 18ft + % 

21 15 758 55 54 % 55 + % 

19 13 28 32 31 31 —1 

22 13 648 38% 37% 37% — ft 

49 14 2720 36% 36% 36ft + % 
1 J 21 666x 43ft 42% 43ft + ft 

3J 27 x 13ft 13% !3%— ft 

... 3J 17 413 23V* 22ft 23ft + % 

200 ?OS 2 19 18% 19 + ft 

JO IJ 14 424x41% 40% 60ft— % 
3J0 49 13 2943 61ft 40ft 60%— ft 
3 34ft 34 34% — % 

705 *7 46% 47 

8 1497 32% 31V* 32 + % 

50x 83 S3 S3 — ft 
13020X 78% 78 78% +1% 

6902 73ft 72ft 72% —2% 
1 26ft 26% 26ft 
45 34% 33% 34% + ft 
1210H08 107 108 + % 

200z 84 84 84 —2 

2MZ7B 7* 78 

1307 76% 75ft 75ft — % 

« 16ft 16% 16ft + ft 
X 17ft 17ft 17ft — ft 
1 17ft 17ft t79* 

1002 19% 19% 19% 

440x 24% 24% 24ft 
SOz 61ft 61ft 61ft +11* 
S3 13ft T3ft 13ft— ft 
1 24ft 24ft 24ft 


.12 

272 

J6 

1.16 

1-20 

JZ 

1J0 

JS 

JO 

JO 


43 29 

17% H 
32% 23 
28% 20 
20ft 12 


VO 

4% 

1% 

22ft 

2S% 

27% 


EGG 

EQKn 

ESvsf 

EogieP 

Eases 


3ft EcsfAlr 
1% EALwtO 
ft EALW1A 
6% EsAlrpf 1.18k 
7% EAlrpfB IJOk 
9% EAlrtrtC 
28ft 21ft East OF 1J0 
23% 12% EaslUn ZOO 
S3 41% EsKods 220 
40% 43% EafOT 1 JO 
35ft 20V* Ecflim 
32ft 20 Eckerd 
33ft 24% EtflSBr 
18% 13% EDO 
34ft 22 EdwQrd 


48 12 21 

126 73 

JO 1 3 14 
1J4 4J I 
J4 2J 


782 40ft 40% 40ft— ft 
21 16ft 16% 16%— ft 

435 7* 38% 28% — % 

159 21ft 2«ft 21ft— V* 

34 19% 19% 19% 


1217851 

535 4ft 
1070 1% 

46 21 
121 24 
184 28 


J8 

1A4 

1JC 

-28 

JO 


24% 19% EPGdpf Z3S 


SJ 113 
9.9 7 
49 12 
24 7 
13 12 
X» 12 
SI 12 
13 13 
2J 15 
93 


9% V% +% 
3% 4ft + % 
1 % 1 % + % 
20ft 20ft 
23% 23% + ft 
27ft SB + % 


IjMerth 

HtahLew Stock 


5b. 

ms vfigB Low 


Claw 
Outa-Oilw 


20V* 13% EmryA 
33ft 2$ Eirthart 
22V; is% EmoOs 
Sft 4 Enwpf 
0% 7 Enwpf 
EnExc 
32% 22% EnglCp 
20 9V| EnksBus 


30 23 U 
1 JOB 46 10 
176 U 7 
JO VfUJ 
JI 102 

.72 25 12 
12 


394 18ft 18% 18ft— > 
205 30U 30 30 1 , — M 

41 21ft 21% 21ft + 
3305 Sft S S —ft 
TOO* 9 8% 9 + ft 

136 ft ft 

198 28ft 28ft 28% — ft 
22 18 % Uft 18 ft — 


29% 17ft Enserdi 1 JO aj 14 2449 24ft 22% 24% + % 


58% Oft Eiach pf 6<15e11 J 
102% 92% EnschpfllJOaiU 
21% 17% EnsExn JOe JJ 
2ft 1% Eosree 22 

13% 9ft Entero 
20 15% EntxEn 150e\44 

71% 16 Entcin 1J6 73 11 
35 lift Enufxs 1.14 34 17 
4ft 2ft Eoulmk 


1070: 54 53% 53% —1 

100 102*. JOI'M W2Vi — W 
24 19% 19ft 19% 

2ft 2 2 

1?% m ir, 

11% 17 17% + ft 

19ft 18% 1* + 

34 3Tb 33% — 

4Vt 3ft 4 


314 

72 

47 

231 

31 

552 


30% 11% Eqmkpf 

X31 IM 



70ft 

20b 

SB* 38% Ear Res 

1-77 17 

a 


47b 

46ft 

17 9% Eautlec 

.12 3 

8 

554 

IT* 

1Tb 

14% 9b Ertmm 

30 26 

IB 

344 

11% 

11% 

24* 13% Ess&sn 

M 10 

14 

338 

22H 

27b 

28ft 18b EssexC 

JOblO 

15 

40 

27% 

27 

Jlft 15% EsTrfne 

37 IB 

12 

70 

19b 

19 


56 26 

13 

1779 

22% 

21b 


27 — Mi 
19ft 

21 % 

6V. 1% vIEvonF 83 1% 1% 1% 

9ft 2ft vIEvanPf 8 3% 2ft 2% + ft 

12ft Sft vIEvnpfB 1 4 4 4 + ft 

<3% 31ft ExCelo 172 40 11 176 42% 42V* 42ft— ft 

17ft 14 Excafv IJiell.l 27 16% 16% 16% 

54ft 3a Exxon 3J0 45 9 4791 53 5IT*S2% + % 


70 52 PMC 120 
28 18ft FPL Gp 1.96 

13% 9% FcbCfr 28 
14% ID Foal 
20% 13ft Fohxhd 20 

39?* 33% Falrcpf 360 


16% 18% Pnlrfd 
27 15 FaxnDJs 

38 23 FrwtoF 

2Bft 14% Fcrad 
13 9 ■ PayDre 

4ft _ 


4114 29% FetfICo 
SBft 31 ft FrdExo 
39 30% FdMog 

STM 12ft FedXM 
27 16% FedlPfl 


30 25% FPOTPf 131 7J 

23 16% Fed Rlt 1J4 6J 14 

19% 1J% FdSsnl JO 43 15 
45% «Bft FBdDSI 154 4J 8 
32 2216 Ferro 120 40 14 

35 25V. Fldesf in 14 u 

1114 4 FlnCpA SO{ 

39 14ft Fin Co pl 6J1C20.1 
6ft 2W FnSBar 

22% 14ftr FlresTn JO 3J ID 
27% 13ft FI AM 1 JS 17 9 
57ft 51 FMttpr AJSeVOJ 
43 21ft FIBkSv IJ0 43 8 
32V* 21% PBkFl % I JO S3 13 
46% 19% FBcaft 13 

27 19% FsrChlc 122 56 

95% 86 FChf pfOBJTellJ 
lift ii — _. •” 

54 35 FtBTx pf 5J6el4J 

49 32V. FfflTx Pf 5J8el43 

21 I FtCHy 9 

24ft 18% FFedAz JOe U 7 

40 36% FFB 2J8 52 8 

55% 32% Flntsfo 150 52 7 
34ft 22ft Flntsfpfl37 8.1 
11% 7ft FtMfss 24 17 9 
28% 1* FlMatn n 1* 

7% 4ft FtoPa 
30% 20ft Fit Pa pf 2J2 9J 
31% 24ft FfUnRl 1J4 6J 15 
20ft 15% FtVaflk J8 14 10 
32ft It FfWhc 1JO 44 9 

49ft 39 F tech 0 120 11403 

lift 8ft FlehFd JSe J 
43 21% FlfFnG S 1 J2 14 9 

50% 42ft FlTF pf 431e85 
28ft 15% FleefEn J4 12 9 
39% 26% Flemno 1J0 17 13 
13% 10% Flex I of 1J1 T2J 
29% 15ft FfghtSIs .16 A If 

34% 14% Float PI 19 

45ft 29% FlaEC .160 J 13 

29% 20ft FlaPrg 2-14 11 f 

18% 11% FloStf JO 13 15 

4% 3', FfwGen 
21 13 Ftowr » XI 23 18 

SOM 14ft Fluor JO 23 

51% 38ft FordM 2JD £5 3 

13ft 10% Ft Deer iJ6 KL8 
78% S4ft FtHowd IJ* 2.1 17 
15ft 10 FosJWti J4 
lift 7% FoxSIP J8 
33% 24% Foxbro IJ4 
27. 22.. Fownyr 


14 35 382 64ft 64 64ft 

&1 0 860 24ft 23% 24ft + >4 

16 34 10 10% tO% 10% + V* 

7 25 12% 12% 12% 

U 248 15% U% 14*— % 

93 153 36ft 34ft 34ft + ft 

.18 IJ 10 45 13ft 12% 129k— ft 

JO 3 23 495 2Wk 22Vi 22ft— ft 
5 6 37V* 37V* 37ft— ft 

J8 47 I 44x18% lift IB*— ft 
JO 11 16 83 9% -9% 9%— ft 

Me J 8 299 4% 4% 4% 

1J4 47 9 50 381* 38ft 38** + ft 

30 2412 43 47% 48* +1H 

152 41 11 74 27ft 37ft 37%—% 

.16 J 5042 l»ft 19ft 19% — % 

JO 35 10 89 20% 19% 20 + ft 


W 29% 29% 29% + % 
243 23% 22 22ft— % 

40 18% 15% 18% 

127* 57% 57% 57% + % 
277 30%*29% 29% — ft 
27 29ft 29ft 29ft— ft 
447 7% 7ft 7ft— ft 

II 37% 32* 32ft + ft 
238 6 5* 4 

207 21 20% 20%— ft 

238 24% 24% 24% 

132 56% 54 56* + % 

1825 38ft 34ft 37ft— ft 
15 31% 31 31ft 
1378 41% 41 41% — % 

344 23% 23U 23% + ft 

4 91 90 « — Ift 

FIBTck 1J0 I0J 11 1198 12ft 12ft 12% 

" 7 41* 41 41% + * 

25 39% 39 39% +1 

5 9% 9ft 9% + ft 

441 22% 22V* 22ft— ft 

248 54 53% 54 + ft 

1229 49% 47% 48%— * 
22 29% 29 29%— * 

101 8* 8% 8% 

226 28ft 27% 27% + ft 

963 6* 6ft 6% — ft 

373 38 27% 27% — ft 

7 28% 21% 28% 

245 24 24% 24%— 1ft 

21 30 29* 29ft — ft 

8? 32ft 31ft 32ft + % 
61 11% 11% 11% 

212 37% 37 37ft— % 

MO 50% 50% 50%— ft 
1B43 19% If* IVft 
290 38 37% 37% — % 

6 13% O 13 — % 

Si + * 

ICQ 17ft \4* 17% + ft 

,3 ,a ^ i& 

1738 » 17% 18 + % 

tan 

112 77 7Mb 77 +1% 

640 13ft 13% 13ft 
6 10% 10% MJ%— % 
25 25ft 25% 2S%— ft 
57 24% 34% 24% + * 
48 20W 20’, 30ft + ft 
314 11% 11% lift— % 
383 9ft 9% 9ft— ft 
841 20% 20ft 20%—% 
66 27% 24V* 27V* + ft 
697 25% 25 25 — ft 


33 13 
6J 12 
4J 89 
16 


22% 18% FMEPn JS* 23 
T2% 9V* FMGCn 

10% 7* PMOG 257*27 J 

Sft 14ft FrptMc JO 19 15 
3£* 23% Frlgfm JO 22 32 
»% 20% FrueMi JO 2J 4 
32V* 25% FruW of 2JJ0 41 
36% 2<% Fuouo JO IJ 8 


55 29% 29% 29ft— ft 
371 31% 30% 30* — % 


TOO 6 19 
128 4D 13 
13 

1J0 u 10 


3J8 76 
ZX 7 J3 
2J0 7 J 
2J8 102 


.a 

36 


36% lift GAF 
37ft 24 GAT A 
3J% 15% GCA 
78* 51% GEICO 
7 3% GEO 

44ft 37ft GTE 
39ft 32V* GTE Pf 
26% 24ft GTEpf 
24% 19% GTE pf 
8* 3ft GalHou 
66ft 41ft Garmeft 1JI 
30 15% Gaplnc JO 

T7% 9ft Gearht 
22V* 13ft Getco 
9% GemllC 
_ . 10 Gemm 
51% 31% GnCore 
18* 14% GAInv 
^6 31% GnBcsh 
39ft 22% OClnms 
21 10% GnDota 

B4 52% GnDvri 
65ft 51ft GenEI 
83% 53 GnFds 
Tft 5ft G&ftn 
9% 5% GnHme 
17 in* GHoet 8 
16% 8V* GhHous 
27% T4H Gnlraf _ .. 

64 47% OnMilla 2J4 40 

85. M G«Ot 5J«r 7.1 


44% 14% GM El aa .1 
43% 34% QMof pf 175 9.1 
5814 45% GVcTpf SJX 93 
9 3* GNC .16 XI It 

15% 9 CPU 7 


237 12ft 31* 32 — ft 
121 29* 29V* 29ft + ft 

131 18% IP, 18% + ft 

271 *9ft 68 69M* +1ft 

16 «W 4% 4% + ft 

4089 40ft 40% 40ft ♦ % 

2 34 35% 35% —Ift 

T2 SSTs 26% 24V* 

11 24% 24ft 34ft— % 

10 ]% 3% 3% 

24 19 2105 60 ft 58 58 — 1% 

1.9 S 147 27ft S3 27 —Vi 

43 It 87 W 9% 9%— ft 
S3 15 248 20% 2D% 20ft— ft 
243 10% 10ft 10% + ft 
JOe IJ 54 11% 11% 11% 

lJOb 3J 51 467 46 44% 44 + % 

U3eX9 64 18% 18% 18% 

1® U 9 16 45 44% 44%— % 

JO 1.1 12 183 37* 37ft 37V*— % 

15 270 13% 13% 13% 

IjOO IJ 9 B42 TSft 74 74ft— ft 

2JQ 3J 12 4398 63% 63% 63% + V* 

2J0 3J 12 920 74 75% 75ft— % 

JOQ 9.1 12 4% 4% *%— % 

10 11 7 4* 7 + % 

JO IJ 3 908 16% 15* 16% + % 

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111 15% 15% 15% + % 

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ihevroHd. 

The Internationa] Herald Tribune. 
Bringing the WcricTs Most 

ImporuniNews to iheWokTs 
Most Important Audience. 


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Statistics Index 


HeralbSEribunc. 


i AMEX prto» . P.H 
AMEX UtotttApmPJI 
mt sc Brien P. V 

NYSE ******** P.10 
(CtRKttM SMW P.M 
.Currency rotes P, 9 
• CwnmodWes P.12 
’ OtvMrtcfc . 


EACMnoe r gn om p.li 
Flaw IBM IwMS P.ra 
Cold mortals P. * 
MeAtct row . P. 9 
Martel tiMwierv a. 1 
Oat ton P.I9 

arc «•«* . p.w 

Other msrtoti ftw 


BUSINESS /FINANCE 


U.S. Stocks 
Report, Page 8 


.WEDNESDAY, JULY 31, 1985 


** 


Page 9 



INTERNATIONAL MANAGER 

How to Eliminate the Loser 
In Corporate Negotiations 

By SHERRY BUCHANAN 

IrUenwvonai Herald Tribune 

I QKDON — You don’t have to be a bully to get what yon 
want from a boss, axt employee or a c3jcdl According to 
some negotiating experts, the name of tbc game is not to 
-* kill - first to avoid being killed. On the contrary, a 
successful negotiation results in a “win /win” situation. Each side 
ends up gaining something. 

“Corporations are killing each other in there.** said Gerald I. 
Nierenberg, one of the early developers of negotiation training 
and the author of several best-selling U.S. books on the subject 
“In a successful negotiation, everybody wins.” Since I960. Mr. 
Nierenberg has trained 135,000 managers to develop negotiating 
siriOs. He said managers in- — . - - . 


"The old idea was 
die harder I hit 
you over the head, 
the more FH get” 




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volved in negotiations with 
i bar boss or with a client usu- 
ally fad on two counts: They 
are not prepared, and they 
don't evaluate property what 
the other person is thinking. 

“Be prepared in depth, read 
the other's min d and evaluate 
the emotional climate be 
said. 

But the message is difficult to get through to many executives 
who believe that being aggressive and tough is what will get them 
what they want. “The old idea was the harder I hit you over the 
head, the more I'll get," said Chris James, in charge of manage- 
ment development at Touche Ross & Co., the British accounting 
firm. “You never thought, for instance, that once the person's 
head was broken, the whole deal was lost,” 

As a result, those in negotiation "training often have to reassure 
some overly aggressive executives that by listening to the other 
side they won’t turn into wimps. 

“What managers have to learn is a more interactive approach,” 
said Peter Fleming, previously a sales manager with a British 
company who now trains managers in negotiating drills at the 
British Institute of Management, International Computers Ltd., 
and BMW GB Ltd. “But then the guy thinks you’re asking him to 
be soft. That's the biggest problem.” 

There is recognition that overkill can be detrimental to the 
executive's own and the company’s interests. Some U.S. compa- 
nies send their overly aggressive managers to assertiveness train- 
ing courses to be debriefed. Malcolm E. Shaw, who has trained 
managers for IS years at the American Management Association 
in New York, coaches overly aggressive executives to distinguish 
between being aggressive and being assertive. 

A GGRESSIVE behavior is hostile, injurious or destructive 

/\ behavior. Being assertive is getting your case across in a 
positive way without being abusive. 

Other companies recognize that, even within their own ranks, 
managers have to learn to negotiate with each other rather than 
wage territorial warfare. “That’s what we are after, maximizing 
the win/ win situation,” said Roy Williams, head of management 
» raining and development at Imperial Tobacco Ltd. 

Among its manag ement development courses, the diversified 
British group has recently set up training in negotiating skills for 
its sales, distribution and production departments. The depart- 
ments had been at loggerheads instead of negotiating a solution 
for better quality customer service. “You need negotiating skills 
to work out conflict,” Mr. Williams said. 

There are a proliferation of experts m negotiation training in 
the United States, England and Scandinavia. In England, there 
are 17 institutions — without counting the individual consultants 
and training experts — that provide courses in negotiating skills 
such as the British Institute of Management, the Institute of 
Chartered Accountants and the Industrial Society, a training and 
advisory service for industry. 

Courses in negotiating skills are not as prevalent in France, 
West Germany or Italy, where many companies believe that 
negotiation is not something that can be taught but a talent that 
you are born with. Training in negotiating skills is available at the 

(Continued on Page 11, CoL 2) 


I Qmpewy Rates 


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2.199 

UAC tOrtunn 

1*725 

. * •'*’ 

Egypt, pound 

oott 

•drooMfifinor 00003 

S. Air. rand 

10325 

V«KZ.bOflV. 

l*K 


(Starting: 1.27*8 Irish C 

Sovran; Benaue du Benelux (Brussels); Sanaa COmmerOate itaHana fMUanJ; Bortova No- 
tenota de Paris (Ports); Bank a I Tokyo (Tokyo); IMF (SOP); BAH (dinar, rirot Ortxm). 
other onto tram Roden and AP. 


InlerestRates 


E nr o e m r e ary Deposits 


Jofy30 


- 

Dollar 

D Mark 

Swim . 
Prune 

SterHna 

Frendi 

Prune 

ECU 

SDR 

1 Kiaafh 

7«r8* 

4J4-4W 

44*414 

11 lb-11 <H, 

loto-nw 


7*4 

2 monlfn. 

B*w8*w 

4XM*h 

«h-4*k 

mk-nvu 

10 5b- n Va 

814-8*4 

74b 

3 nxwlfi* 

B TWO Hi 



ll ow-n *w 

loto-tito 

HnUk 

794 

taianfbs 


4 9w5h 

49W4W 

1 094-11 

loia-mb 

894-9 

I 

1 war 

Bta9 

SOM 

4*W4 0h 

W Sb-IO lb 

11-12 

Mto 

BW. 


Sources; Morgan Guaranty (donor, DM, SF, Pound, FF); Ltsyds Bank (ECU),- Reuters 
fSOfij. Rates aup llaMe to Interbank deposits of Si million minimum (or eaulvotent). 


Key* M o nty Rates Jeh jo 

WtoMSkrtW Clew Frew. 

tNtcMmlRoh 7Vi TVi 

FMwal Foam Tto 79/14 

Print Rato ft* 9 tt 

Bnka- lm Rate an va 

Qwi Paper 9M79 (ton 720 7-73 

3-awnWi Tfwnsnr BtHl 727 123 

ttoMiaTieawnrUtts 7A3 J22 

CDtiMf dan 7 JO 7 JO 

CDlMtm 7 JO 7* 


' wtflSefwant 
LMntwrdRato 
OvntoMftato 
OaeMtnto latorbMk 
3 OMntii Interbank 
t-amtti interbank 

V Eigwe 

im tfw ttoa Rato 
Cog Mon 

’ Ohm»MJi Interbank 
>awtn interbank 
- Mmmmi mtortwok 

grtfufe 

S«ak Bate Rato 
Cat! Money 
91-gay Tm«fYBiU 
>‘ imam interbank 

asss. 

Uungrt Rate 
’ Can Meaty 
... c <M»r Interbank 


iff (JO 

SJt 440 

sis s.is 

S.1S S.1S 

is 


Mt n 

♦3k 9*4 

9 11/14 911/14 
Mm «4 
911/14 911/14 


lit* 1!» 
NA II 
— 1027 m 

- io i&/u 


1 5 

4to 4 S/U 
4*i 4 to 


* f Sources: Reuters. Cemmmoenk. Credit 
Lyamea. l (ortd Bonk, Bone of Tekw. 


Asian Dollar Depoafls 

JehtX 

1 month 7%,-Bib 

7 meat m S-8V» 

Imoattn SW-BUi 

Bmaaths 044 -8Vi 

• year atw-B% 

Source: Reuters. 


VJS-Maaey Market Fuads 

July 30 

Morrill Lyadi Raadv Asaati 

W dav average 9MM: AJ3 

teterale latereal Raid Indu: T&C 

Source: Merritt Lynch. AP 



'• July 30 

KM. PM. Qitee 

Haaa Kang SA2S 33276 +5» 

Luxcmboara UtOB “ 

Porto (lUfcUa) 324JS »4J4 +W 

brk* 

UntM 3H35 32S3S — 'JS 

(MVM. 71U0 -920 

Lunetfibouro. Ports and London official fit- 
<ng$; Hono Kona amt Zurich opening end 
elating prices: dew York Gomes C urnnl 
contract, tui orttxs m US. S per ounce. 
Source: tteulenk 


UJL Stake 
InBritoil 
h Priced 

Sale Will Raise 
$638 Million 

By Bob Hagmy 

Troematioool Henue Tribune 

LONDON — The government 
announced tin Tuesday final plans 
to sell its remaining Briiofl PLC 
shares at a price many analysis re- 
gard as cheap but at a time when 
few investors want to bet heavily 
on firm oil prices. 

The government said rt is selling 
242.6 million Britoil ordinary 
shares, or 49 percent of those out- 
standing, for £449 million {5638 
million), or 185 pence a share. 

On the Louden. Stock Exchange, 
shares in the oil exploration and 
production company closed at 200 
pence, down 5 pence from Mon- 
day. 

But several oil analysts said that, 
barring major jolts to ihe oO mar- 
ket in the next week, they expect 
the offer to attract fairly strong 
demand. Some said Tuesday’s price 
decline reflected selling by inves- 
tors who intend to buy shares at the 
lower offer price. 

“You have to be fairly pessimis- 
tic about dl prices not to find it 
attractive," said Michael Uns- 
worth, chief oil analyst at the Lon- 
don stockbrokerage of Scott, Goff, 
Layton A Co. Compared to similar 
US. companies, he said, Britoil is a 
“staggering value." 

Peter Beck, of Phillips & Drew, 
predicted that investor response 
would be “not overly enthusiastic, 
but enthusiastic enough.” 

The offer price is well below the 
215 pence at which the government 
sold 51 percent of BritoQ to private 
investors in November 1981 

That sale, coinciding with a drop 
in cal prices, was a monumental 
flcm. Demand for the shares was 
slight, and underwriters of the issue 
were left with huge losses when the 
share price plummeted as soon as 
trading began. 

Merchant bankers organizing 
the latest sale said Tuesday they 
were confident it would not be an- 
other slaughter. For one thing, oil 
prices have climbed moderately in 
recent weeks, in pari because of 
maintenance work that has reduced 
output from the North Sea, where 
nearly aH of BrilaiTs productions 
located. 

In addition, analysts say the of- 
fering price compares favorably 
with other oil shares. Based on Bri- 
tod's dividend projection for 1985, 
the shares are being offered at a 
gross dividend yield of 10 percent, 
compared with an average of 7.6 
percent for cal companies listed on 
the London exchange. 

As a further inducement, the 
government is requiring investors 
to pay only 100 pence per share 

(Continued on Page 13, CoL 1) 


Stock Prices 
PhmgeinTokyo 
2d Day m Row 

Reuters 

TOKYO — Share prices on 
the Tokyo Stock Exchange 
plummeted Tuesday for the sec- 
ond day, with the Nikkei mar- 
ket index making second-big- 
gest drop on a single day, 
stockbrokers said. 

The index lost 321.53 points 
to close at 12^69,89, its lowest 
since April 24. 

After the first hour the index 
bad slid 171.90 points as inves- 
tors canceled buy orders, caus- 
ing prices to tumble although 
trading was moderate, dealers 
said. Volume reached 470 mil- 
lion shares at the day’s dose. 

Banks and other financials 
that led the index down 98-95 
points Monday opened lower 
Tuesday, spurring widespread 
profit-taking among domesti- 
c-orientated issues that had ris- 
en sharply over the last few 
months. 

“There were no real negative 
factors, the market was jusi 
overheated," said a dealer at 
Daiwa Securities Co. 

Dealers said early morning 
consolidation by a mmor life 
insurance fund triggered a nec- 
essary adjustment of overly 
high prices. 


U.S. MegabuMers Are Seating Down 


Smaller Market 
Means Building 
Bridges, Dams 

By Thomas C Hayes 

/Vfw York Tima Service 

LOS ANGELES — A few 
miles front its futuristic head- 
quarters in Irvine, California, 
Fluor Corp. is budding an SIB- 
million sewage treatment plant 
Tor a planned community near 
Mission Viejo. 

About an hour's drive from its 
headquarters in San Francisco, 
Bechtel Group is constructing 
the S75-miUion Sacramento 
County Jail. 

Fluor, Bechtel and other gi- 
ants of construction — Parsons 
and Monrison-Knudsen, for ex- 
ample — were nothing less than 
20th-century pyramid-builders 
just a few years ago. They would 
barely consider projects with 
price tags below a billion dollars. 
Marshaling armies of men and 
machin es, they erected refiner- 
ies. petr o chemical plants and 
huge nuclear power facilities in 
the United States. Overseas, they 
bunt entire industrial dues and 
vast copper mines. 

But plummeting oil prices, 
staggering Third world debt and 
fierce foreign competition aris- 
ing from the strong dollar have 
all but collapsed the market for 
such megapngects — and with it, 
the revenues and profits of sever- 
al of the once-proud master- 
builders. To survive, they have 
been accepting bumbler tasks. 



’70 ’71 72 73 '74 - 7B '70 '77 '70 70 'OO '«t •** '*3 '84 

Soorrx-: cng.'i tcerin-j t.ews-ffecCrd mz jaziny 


The New folk lmm 


“We’re taking on project man- 
agement assignments we would 
have never dreamed of,” said 
David S. Tappan Jr.. Fluor's 
chairman and chief executive. 

The megabuilders - drive to 
grab business of practically any 
size has made their domestic 
market hotly competitive. And 
to keep their bids as low as possi- 
ble, the big companies are trying 
to cur costs by reorganizing, lay- 
ing off employees and hiring 
more nonunion workers. 

The trend to smaller projects 
has caused culture shock among 
many managers. “It talas a cer- 
tain amount of conditioning, a 
certain amount of pain before it 
gets accepted," Mr. Tappan said. 
“It has to be sold to the oiganiza- 
lion." 

Analysis say that even more 


internal pain is in store for ihe 

a builders. They insist they 
iave to decentralize and im- 
prove productivity even further 
if they are to win contracts away 
Tram midsize domestic competi- 
tors and increasingly aggressive 
foreign rivals. 

Even with the megaprujects 
gone, there is a substantial mar- 
ket to fight over. Despite the 
troubles of the main ptavers. en- 
gineering and construction ranks 
os the biggest industry in the 
United States. Last year, it ac- 
counted for 8.5 percent of the 
nation's gross national product, 
the Commerce Department re- 
ports. And it is still growing: 
Defense plants, office lowers, 
homes and other construction 

(Continued on Page 13, CoL 1) 


Latin Nations Seek Flexibility on Debt 


United Press International 

LIMA — Sixteen Latin Ameri- 
can nations have demanded more 
flexible terms for repaying their 
creditors and described the region's 
5360-billion foreign debt as a 
threat to democracy. 

In a document called “The Dec- 
laration of Lima," released Mon- 
day, the countries blamed protec- 
tionist trade policies or 
industrialized nations for the re- 
gion’s worsening economic crisis. 

Protectionism, along with the de- 
cline in value of Latin American 
exports and the “imsupponable 
weight of foreign debt service." the 
document said, are factors that “se- 
verely affect vast soda! sectors and 
compromise the stability of democ- 
racy in the region." 

It also called on Latin America’s, 
creditors to “adopt flexible and re- 
alistic criteria for treating the prob- 
lem." 

The document reiterated a posi- 
tion taken in earlier meetings of the 
debtor nations, bnt fell short of 
backing Peru’s decision to limit 
payments to 10 percent of that na- 
tion's exports earnings. 

The representatives of the 16 
countries that signed the docu- 
ment. including six presidents. 


were in lima to attend the inaugu- 
ration Sunday of President Alan 
Garda Pfcrez. 

Mr. Garda announced that he 
would allot no more than 10 per- 
cent of Peru’s exports earnings, or 
S3O0 million, to pay the debt dur- 
ing the next 12 months. 

He said he would bold future 
debt negotiations directly with 
creditor banks, sidestepping the In- 
ternational Monetary Fund, whose 
austerity measures would only 
plunge Pent further into recession. 

Peru’s debt payments falling due 
this year total S3.7 billion. The 
country already is 5475 mfllioa in 
arrears on its 514-biIlioa debt, and 
paid only S1S0 million to banks in 
the first six months of the year. 

The document was signed by the 
presidents of Argentina, Colombia, 
Bolivia. Panama, Peru, the Domin- 
ican Republic and Uruguay, and 
by delegates of Costa Rvca. Cuba, 
Ecuador, Haiti, Mexico, Nicara- 
gua. Venezuela, Honduras and 
Guatemala. 

■ Conference Is Planned 

Latin America's 1 1 biggest debt- 
ors, linked as the Cartagena group, 
have announced a new ministerial 
conference to lay the groundwork 
by September for greater dialogue 


on economic issues with the Euro- 
pean Community. Reuters report- 
ed Monday from Lima. 

The group's foreign ministers 
said the decision was made Mon- 
day because initial contacts showed 
that the EC had a constructive ap- 
proach to the concerns of the Latin 
American nations. 

The Cartagena group, which 
holds about 9b percent of the re- 
gion's foreign debt, wants Western 
nations to ease repayment terms, 
lower tariffs and roll back other 
protectionist measures. 

■ Pent Closes Banks 

Peru’s new government Tuesday 
ordered commercial batiks closed 
far two days as part of a new eco- 
nomic program that could include 
exchange controls or a devaluation 
of the national currency. United 
Press International reported from 
Lima. 

The measure appeared designed 
to prevent a run on the banks by 
Peruvians who might try to with- 
draw dollar deposits. 

Mr. Garcia, in his inauguration 
speech, announced that hie would 
prohibit transactions in dollars, 
which many Peruvians use instead 
of the national currency, the sol. 
because of its rapid devaluation. 


Deficit in Trade 
Widens in U.S. 
To Near Record 


The Asumurd Pmi 

WASHINGTON - The VS. 
merchandise trade deficit, swollen 
by a jump in petroleum imports 
and a record monthly imbalance 
with Japan, widened io SI 3.4 bil- 
lion in June, the second highest on 
record, the government reported 
Tuesdjy. 

The Commerce Department said 
that the merchandise trade deficit 
— the difference between expons 
and imports — rose from Si 2.7 
billion in May. In June 1984. the 
deficit was SS.lb billion. 

The Commerce Department said 
most or the imbalance stemmed 
from an 8.1 -percent jump in oil 
imports and foreign goods such as 
Japanese cars, which swamped a 
slight gain in exports 

The largest single trade deficit 
incurred by the US. in June — 
S4.57 billion — was with Japan. It 
was the highest monthly unbalance 
between ihe iwo nations on record. 

The U.S. trade deficit for the 
first six months of the year now 
totals S70.7 billion. Commerce Sec- 
retary Makolm fialdrige has pre- 
dicted that for all of 198$ the defi- 
cit will reach 5140 billion to S15G 
billion, far above last vear's record 
of SI 23J billion. 

The country's trading problems 
are ihe principal reason that U.S. 
economic growth has slowed dra- 
matically this year, economists 
note. For the first half of I9S5. the 
economy advanced at a mere 1- 
perceni annual rate as U.S. manu- 
facturers continued io lose sales to 
foreign competition. 

Analysts lay most of the blame 
for the unfavorable trade balance 
on the strength of the dollar, w hich 
makes imports cheaper and more 
attractive to Americans while 
boosting the price of U.S. goods 
abroad. 

Commenting on the near-record 
trade deficit, Mr. Baldrige said the 
dollar would have to fall much 
more to solve the country's trade 
problems. 

“The value of the dollar has Wi- 
en 12 percent since February, but 
remains nearly 40 percent above its 
average in 1980,” he said. “A much 
larger drop is necessary to improve 
our competitiveness in the world 
economy." 

In a separate report, the govern- 
ment said that sales of new homes 
dropped a slight 0.1 percent in 
June Sales were at an annual pace 
of 6n9.000 last month, 5 percent 
above the level of a year ago. 

The S13.4-billion June trade def- 
icit came close to the record of 
$13.8 billion set last July. 

Last month. Commerce said, im- 
ports climbed by 2.6 percent to 
$30.9 billion, the second highest 
total on record. 

The gain stemmed from a big 


jump in oil imports, which flowed 
into the country at a daily rate of 
5.93 million barrels a day, up from 
5.27 million barrels doily in May. 

Part of the reason for the in- 
crease in oil shipments may have 
been a fall in the pare. Die average 
price per band dropped to S2S.U7 
per barrel from S2S. •! :n May. 

Imports of manufactured goods 
rose by 5478 million to a June total 
of S2l.fr billion, pushed up b> in- 
creased sales of cars, principally 
from Japan. 

Imports of cars from Japan to- 
taled SI. 7 billion m June, account- 
ing for 27 percent of total Japanese 
imports last month. Car imports 
had totaled SJ 24 billion in May. 

U.S. exports rose by a slight 0.1 
percem in June after falling 2 1 
percent in May. Even with the 
slight rise, exports remained de- 
pressed. totaling only 517.44 bil- 
lion Iasi month. 

The small advance in exports 
came front increases in a variety of 
commodities. Export sales ad- 
vanced for automobile and tractor 
ports, power generating machinery 
and wheat. 

These gains offset declines iti 
sales of aircraft and parts. offLe 
machines, electrical machinery, 
coal and fertilizers. 

In addition to Japan, big deficits 
were incurred with Woiern Eu- 
rope. S2.fr billion: Canada. S ! .” bil- 
lion. and Taiwan. SI billion. 


Turner Loses 
2 Rids to Block 
CBS Repurchase 

Thr 4ss.\ iah J Pr, u 

ATLANTA — Ted Turner, 
chairman of Turner BroodcaM- 
ing Systems, lost a federal court 
bid on Tuesday to block CBS's 
repurchase of 21 percent of its 
own stock, a move he said was 
designed to stop his takeover. 

Earlier, in Washington, the 
Federal Communications Com- 
mission rejected a separate at- 
tempt to block the CBS pljn. 
The FCC held that ihe pbn was 
not an illegal transfer of control 
of CBS's radio and TV' licenses 
from shareholders io manage- 
ment. as Mr. Turner contended. 

CCS. District Judge Robert L 
Vining Jr. said he had failed io 
prove that the CBS plan con- 
tained restrictions designed 
solely to impede his takeover. 

Mr. Turner is attempting to 
gain control of CBS with a pro- 
posal involving stock, bonds 
and notes — but no cash — that 
he says is worth S5.4 billion. 


NatW est Reports 20% Profit Rise for First Half 


Reuters 

LONDON — National West- 
minster Bank PLC reported Tues- 
day that it had first-half pretax 
earnings of £354 million (S500 mil- 
lion). a 20-percent increase from 
£295 million in the first half of 
1984, but below analysts' expecta- 
tions of £400 million to £460 mil- 
lion. 

NatWest said its overall balance 
sheet was reduced 1.4 percent in 
the first half of 1985 because of 
currency movements, in particular 
the weaker dollar. That was despite 
an increase in pound lending of 5.4 
percent during ihe period, NatWest 
said in a prepared statement ac- 
companying its figures for the half 
to June 30. 

First-half profit would have been 
£385 million if the sterling ex- 
change rale at Dec. 31, 1984, bad 
been used in calculations, Philip 
Wilkinson, the chief executive, 
said. 

But he said at a press conference 
that the general outlook was en- 
couraging given a further gradual 
decline in British interest rales and 
hopes for stable interest rates in the 
United Stales. 

The bank died currency transla- 
tion effects as (he reason for a fall 
in foreign-exchange operating 
earnings to £10 million from £28 
million in first half 1984. . 

Mr. Wilkinson said a good oper- 
ating result for the first half was 


expected to be reflected in im- 
proved results for the full year. 
NatWest made a pretax profit of 
£671 million in all of 1984. 

NatWest's chairman. Lord 
Board man, said the results were 
very good, despite the negative im- 
pact of the exchange rate. 

Philip Girle. general manager, 
domestic banking, said the bank 
bad made a profit in Britain on its 
home-loan business but a smaller 
one than in last year’s first half. He 
gave no figures. 

But be said declining buik 
society rates in the second 
should improve the bank's margins 
and give a “very different return" 
than in the fiisi half. He said the 
bank had lost some personal-ac- 
counts business, to Midland Bank 
PLC in particular, but the value of 
the total deposit base held up. 

Mr. Girle said be expected fur- 


ther growth in (he domestic bank- 
ing division in the second half. 

Lord Boardman said the interna- 
tional banking division contributed 
higher profits during the half year 
in difficult trading conditions. He 
noted that National Westminster 
Bank USA recently announced a 
69-percent increase in net income 
for the period. Assets in the United 
States now total SI3 billion. 

The balance sheet shows liquid 
and short-term assets totaling £ 1 4.9 
billion in the first half, compared 
with £132 billion in the same | 
od last year. Lord Boardman. 


position would be used for expan- 
sion in a number of strategic areas. 

Mr. Wilkinson said the bank 
would have full investment-bank- 
ing capability within the group by 
mid-1986. 

The bank plans to link existing 
merchant-banking activities and 
new capabilities ui securities and 
distribution and trading, to be in 
place by the middle of next year. 
The new strategy is to mm its 
customers' growing use of capital 
markets, he said. 


UNUSUAL 
OPPORTUNITY 
BRAZIL- FOR SALE 

Leering Woman's 
Man's and Oddren's 
Hosiery & Underwear Co. 

Lang e&ftfahed hgWy pofeobto n«»A*n*- 
mg plgnf to*d t> ‘retosna an*ae~ saw 
with uv anart edvoreagav. Modem eaup 
rot ftoduefan wnator eta y awd Cam- 
ptoto nutotoxj tfnxjuro. Compon/i brand 
nonet confcnl STm of prasert targr mar**. 
(Xfimd gw** paentaL Acfctaond pro* 

ucb end marten housed Cer*oL Sam 4 
North Aranca. 300 envtoyeis. Experienced 
awtaur managenienr nd njy cn 

Owiwi mEng 6* pmanal reason. 
Write to N.Y. snutod or P.O. Bo 8132, 
FDR Station, NY. NY 10130 USA. 


BAXTHt/TMVENOL INTERNATIONAL CAPITAL CORPORATION 

First Serie Conrertible Preferred Stock 
Certificate an poneur 
tmis par 

Morgan Guaranty Trust Company of New York 


A distribution of Dollar 0.77 j*r depositary share less any applicable lass 
impending on the pittttrtor's country of residence Will off proNe an and 
aft or July 23, 1985 upon presentation of coupon □* 28 at the office of any of 
the following drjxwiUriea: 

— MORGAN GUARANTY TRUST COMPANY OP NEW YORK 

— New York. 30. West Broadway 

— London. I. Angel Court 
~ Brussels. 35, avenue dea Arts 
— Paris, 14, Place Yendame 
— Frankfurt, 46, Mainer landumne 

— KREDIETBANK S.A_ Boulevard Royal, 43, Luxembourg. 



REPUBLIC OF TUNISIA 

MINISTRY FOR THE NATIONAL ECONOMY 
GAFSA PHOSPHATES COMPANY 

INTERNATIONAL INVITATION TO TENDER No. 3759 

MECHANICAL EQUIPMENT FOR THE FACTORY 
MANUFACTURING CONVEYOR BELT ROLLERS. 

— TTie Gafin Phosphate* Company is i/suine an fnlrrnalional 
Invitation to Tender with a view to poriWinp 

— The nwmgry merkaakal equipment for the inrunlbtion of 
a manufacturing plant for conveyor bell roller*. 

Onh n JJer < rmslmrlinn of i irfnpuw* OMirntnl with ihv mnstnalnr*. may 
|urlii-i|Mk-. Tin* Srimlult 1 uf ( juuliiimw irlalinp In this Tirtsk'r nu* hi- 
nliUiiHil jjjfiinsi pis until nf (hr sum of fifty dinar (SQOTl) fnmt the S'nuv 
(nik-ial ifr Lt iVimpapnie i Its. Plmsphalo* dr tofu. (Ccm-rai IKvwtni 4 ihe 
t iafki Wmsphdrt. ( -nmjajiv). 9 ns- du Rnyaumr de E'Axalm 1 Sioudiir. Tunis. 
TV Trndere. in kkiMI rut r lopes, shall Ir drawn up in t|\ (ft| vnjtfts m the 
Knmrh laiwu^- and atkln-Mil l»: MutkWut k* Dinitnir ilis Ai (uK 2130 
MilLanui. (Tunisia), befw SrjnmdiiT 11. 1985. 

The private opening nf the Tmlris shall lake uLuy mi S-titnillirr 1 1. lUHSal 
*) hundred hams: any Teibler lirhip milxiiillen after du* dale nr In irlr\ shall 
ikS Ir Liken ilrtn mnsiilrralint) 



d 

il 

The Establishment Trust 

n Socicted'InifuiiK'irkfni j ejpu al » jnaHr iSIC AV» 

C Luxemtxuirj:.-0. Bouleiard Rinjl 

Q R.C. Luiembouri: B 21 -13 

e 

6 

J Dividend Nolice 


A dividend of O.fr cents per share «mII he paid on or jlier Aucuvi N. t l4 7*> io 

Shareholders on record on Jul>' IS. I9SS auainst surrender nf coupon No 1. 

By Order of ihe Board nl Pirectors 

Coupon Paying Agents 


COPENHAGEN 

NEW tORK 

1 Privailunken A S 

Chemical Bank 

1 P.O. Bov IftXi.Torveuadc 2 

United Nations Building 

I 24IW Copenhagen N-V. 

Ne* York. N V limr 

I Denmark 

Untied State* of America 

1 HELSINKI 

OSLO 

1 Bank of Helsinki Limited 

Christiania Bank 

I Aleksanierinkatu 1“ 

P.O. Bo* Ut*t». Senrrum 

) SF-LKIIW Helsinki 10 

Oilo } 

| Finland 

S'cmsai 

HONG KONG 

PARIS 

1 Bermuda Trust tFar EaMl Limited 

Banquc TranKiiLuiuquc S.A. 

1 2401 Edinnhurtsh Tower. The Landmark 

17. Boulevard Hauumann 

} 15 Queen's Road. Central 

7 .i 42 m Paris Cffdtxl# 

j Honp Konu 

France 

1 LONDON 

ROME 

J Barclays Bank PLC 

Crcdiio ItaliaiKi 

1 Sevurilies Services Department 

4 ti Piaizale dell'lnduMiirEUR" 

j 54 Lombard Siren . Umdon EC.1P 3 A H 

00144 Rome 

I United Kinedom 

Italy 

LUXEMBOURG 

TORONTO 

l KtedicihjnLS.A.Lunemboureiffoiu* 

Bank of Montreal 

| 4J. Btiulcsanl Rusal 

1 First Canadian Place 

1 L-2*t5fi Luxemhouru 

Toronto. Ontario M5X IA3 

J Grand Duchy of Lusemboum 

CanadJ 

MILAN 

. VIENNA 

] Credit* fiufiano 

CrediraiWatr-Bankverein 

Piazza Cordusio - 

SchotterteaMefr 

1 20125 Milano 

A- 1010 Vienna 

Italy 

Austria 

MONTREAL 

WASHINGTON 

I Bank of Montreal 

Amcriran Security Bank 


l5rt| Penim-lvanid Avenue NW 

■J Mom real -Ouehci.' H3C 5Bh 

Washinuion DC 2001.1 

Canada 

United Siaies of America 


r.i- 




INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


luesdaii 

MSE 

Closing 


Tables Include the nationwide prices 
up to the dosing on Wall Street 
and do not reflect late trades elsewhere. 

I'in The Associated Press 


n*« Tx. 

28% 30 

ir% a% 

tv , , 
33)1 34 I 
lift 18% I 
36% 3D i 

IV 13 i 
37 20 V. I 

35% I 
is'4 low i 


5J 10 144 


64 47 0 MJ 

J2 10 14 34 
JO 11 11 l*S 
MO 4J0 9 296 

1« W 10 1212 

.44 3J 20 17 


OH 94 — 
26% 26 26 1 -. — 
ii m io"*— •* 
7% TV, 7% — 4 
29% Tf'u 29% - '1 
»*# 23% 23*t + ^ 
34U. Jpg 3*'- + 
16% 16 t&L. 

34% 34'i. 34'k 4- ^ 

4*TU MW H 

I7H 12% 12% * % 


12 Moran 
m ton low Slack 


11'* PNlEp# mi im 

IO'i 7% PflHE ot M3 113 

«0V 44 Pm IE Pi 765 117 

IO’i 7V, PhtiEp(12S I3J 
-, 25 w Phflol 17.12 14! 340il21 Vi 120% 121V, 

74 sr-i PtiUE pf »jo iia tooz vrtt m 4? _ r t 

60^:44 PMIEIH7M1U 1240z 3? 56*56%-% 

«0 43% pm IE 01 7JS 118 10OZ SVu S6‘- 56% -1% 

23 • tf-t PlUISwO M2 67 12 S3 1VH IS* T9H * % 

471* PhllMr 4 M 4J M J72T 13% 82ft S3* + Vfc 

2f> ° 40 15 14 309 MH S3’* 24% + * 

a 29 Pnuinnt 1J» u 1 58 SB 50 —4 

123. iiu Pimm, 1.00 7.9 s 7943 12V m* irw- % 


lPWHMlLow CuM.QfH 


M ion im im- * 
m OB* M ID + 1 
Win STVi 57V ) — iw 
I2S 9V Vi 9* 


IDU AW Pvra 


B.. *V- OuokO* 174 ZJ 13 547 

av isv Pvckso is 17 n ist 

IOVj Ok Quanta 22 AS 

34V 23 QuKtor 140 52 ID 1459 
26% 14% QkRtfJ 74a 14) 14 113 


8% ft* 8% — 


4*% 4T^ 47T|. 

21* 2l‘l 21 V 
8V OH Bis - 
31V] Ji ]] . 

W% 34 ;«t- 


i>a : 




600 


o n □ 
o o o 
h □ a c 


4IU 32 
40 52V 

6«i S3 

42>'. 3I<- 

4’1 3 

56% 30-4 , 
62’ i. 40% 
laV B 
3&% 30V 
291* 21% 
57 4AV, 

50V 20V 

44 27 

8V. 3 

«2 t&% 


(Continued from Page 8) 


: 38V 38V 
47 65V 

:44V 64V 
38% 37V 
4* 4% 
SOW 49% 
47W 47 
10 % 10 % 
37V 37 
20 27% 

55V 55V. 
33V 33 
44 V. 43V* 
3% 3V, 

W% 83% 


38V— IV 
65% —1% 
46% + % 
30V + V. 
44k— Vt 
49V- % 
47% — Ik 
10% 

37V— V 
28 + U 

55V 

33W— V 
44V 4- % 
3% 

34% 4- V 


19V PHH 1J» 2J 
27V PPG \M 15 
IS PSA JO 12 
13V PSA dot 1.90 9 jQ 
Ilk PocAS 154 115 
13V PocGE M4 ULO 
31% POCLIO 132 14 

23H PcLwn MO C 
SV P« Res 05r j 
13W P OCRs Pi 100 107 
12V* PocSel M 25 

59% PocTrle 5.73 7J 
9V PocTb) M 10 
22V Poclfcn 132 04 
29 Podlpf 457 123 
24% Pa In WO JO 1.9 
26% PalnWptZ2S 77 
33V PolfflBc MO 35 
20V PonABA .70 15 
4 PanAm 
IV PanA v*l 
13% Pa nock n 30 1.1 
31 PonhEC 130 47 
3% PontPr 
13% PanrcH AOI 
Oik PQTtfWtl 
11% PorkEs 
4% Pork DM .16 3.1 
27V ParkH 7.12 3J 
U ParkPn 521 25 
1% pqtPlri 

11% PflyNP jM 45 
13% PovCsh .1* .9 

6V Pecbdv 70 1.9 
% Pew 
43V Pen Can 

44% PMHWy 234 43 
72 Pa PL 254 10.1 
57V PaPLpl 850 110 
24 PaPLdPd42 11.9 
21 PaPLODflVO 113 
54% PoPL pr &M 120 
22V PaPLdm025 117 
25V Pa PL dm3 J5 114 
70 PaPL pf 974 103 
81 v PaPL prlljOO IM 
32V F<MW1T 2J0 55 
20 Pensrpf 150 65 
27 Pemuoi 120 47 
9V. PoapEn 170 75 
13V PeoBrs 
37% PepsiCo 1.78 12 
1BV Perk El 54 10 
7V Prmkm 1.17*147 
14 PeryDr 28 1J 
31 Petrie 1A0 3.9 
24V PelRs 372el35 
14 PetRfiPf 157 9A 
2V Plrlnv 79P292 
31V Pfizer M8 3.1 
12V PnetoD 
34 Phelppr 550 92 
23V PtilbrS 54 1J 
11 PhliaEI 220 145 
22% PhllE of 380 129 
25% PHI1E pi 440 119 
24V PhllE pf 4 58 134 
40 PhllE pf 7JJ0 132 
51 PhllE pf 875 135 


14 434 34% 
va 452 45U- 
20 104 28% 

19 SI 
32 14% 

7 3717 1BV 
13 483 40% 

18 463 28V. 

13 21 8% 

19 19 

12 52 15V 

9 1091 74V 

5 8 13% 

8 1147 27V 

41 33% 

19 748 32% 
378 29% 

15 7 34V 

12 232 39V 

3508 6V 

331 3 

24 51 17V 

II 2619 34V 
33 1008 7* 

15 573 19V 
116a 10% 

ID 44 13% 
154 SW 

11 113 33V 

48 54 3D 

4 154 2V 

H 282 14 

14 1177 18% 

25 94 10V 

48 V 

12 2341 53% 

9 1314 49% 
8 978 25% 

10171% 
213 28V 
14 24V 
5QZ49V 
130 27V 
28 30% 
60z 87% 
1201 98% 

13 256 *0% 

32 24V 

19 1029 44V 

6 459 14V 

20 243 ZJW 
10 6458 56V 

14 677 27 V 

7 300 8% 

16 121 21V 
14 t24 37V 

31 24V 

4 16V 

5 3 V4 
14 4728 48% 

2043 23V 
44 54% 
22 7305 42% 
6 2904 15V 
100x29% 
200* 35 
31302 36 
1002 52% 
220Z 45 


34W 34% + ’fc 

44V 451* 

27V 27V— V 
21 21 - V« 

13V M 
18 18V + % 

39V 39V- V 
28V 28V + •*. 
BV BV 
18V 1BV— % 
15V. 15%— ’A 
72V 74V + V 
13% 13V + ta 
27% 2714 + V 
32V 33 — ’i 
31V 31V— V 
29% 29V— V, 
34V 34V 
38V 39% + V. 
*V 6V 
2V 3 + V 

17V 17V 4- % 
33V 34% + V 
fiV Tit 
19% 19V— % 
10 10 — V 

13% 13V— % 
5% 5% — V 
33V 33V — . 
19V 19V 
2TA 2% 

13V 135k + Vk 
18 18V + % 

104k !».-% 

52 52V— Ik 1 

49 49",- % 

25 25*1 + V 1 
71% 71%— % 
28% 28V + W 

26 24 — % 

49V 69V— V 
27% 27V 

30 30%— % | 

89% B9%— Vk I 
98 98 + h 1 

39V 39V— V 
24V 24V— % 
*5 44V 4- % 

15V 15V— % 
22V 23% + % 
55V 54% + V 
27V 27V— V 
8% BV + % 
21% 21V 
34 34V —IV 

26% 26V + V 
16% 16V 
3V 3V 
47% 47V + % 
23V 23V— % 
54 54V + V 

40V 41V— V 
15% 15V + V 
29% 29% + % 

34 34 —IV 

35 35 —2 

52% 52% -1 
44 45 +1% 


a 29 Pniiinni 
18 V in. Phi I Pis 
24 22V PIUPl pf 

28>i 17V PtIIIVH 
3SV 23V PMAt 


I 58 SB SB —4 

<3 12V 17% 17V— % 




23V 23V 
24V 25 + % 


34 23 * PieNG 232 7.4 9 1$ 31% J1U 3IU - % 

14V Pier 1 16 223 24% 24 24V. + % 

$6V 34V Plttbrv 1J4 12 It 1038 4|V 48 4BU— V 

34 21 V Pioneer 1.24 4.9 5 880 24 25% 2S%— V 

24V 13% PlanrEl ,17r M 44 14V MV 14V- V 

45% 27V PlInvB 120 Z9 n 228 41% 41% 41V— % 

1JV »V PIMstn 924 12V 11 V 11 V— V 

15% SV PUmRs 30 U 15 83 14V MV 14V- V 

13% 7 Pkmlm .140 U IS 17 MW 10V 10V 

1»» K* PtoYBor 4 IT TV TV TV— V 

22V 14% PoooPfl JO 4.1 34 432 15 14V 14V- V 

33V 24% PotarU IJO 12 122 1855 32 30V 31 V + V 

21 U 10V Pondrs M J 27 177 12% liu T7% + U 

21 Vs 1SV PooTfll M 4.1 ' 45x »V 19V 19V + W 

22% 14V Portec M 1J 37 94 22V 22V 23V 

21V M PortGE 1.90 95 8 750 19V 18V 19V + % 

24% IBV Port, pf 2JO lOJ 3924 23V 24 — V 

3S*a 29V PorGpf MO 12.9 49 34V 33V 34 +V 

34% 29 PorGof 4J2 12.9 17 33V 33% 33V + V 

38% 25V Polltol 1J6 4J 13 17 33V 33V 33 'i 

34 21V PotmEI 2.16 74 9 459 29U 28 29V + V 

44% 34 PolEIPf 4LS0 10.1 1^ 45 44V 44V— V 

41V 32 PalElOf 404 iai 2DQz 40 40 40 

25V, 18% Preml 9 A U 17 57 22% 22V 22V + % 

40 2SV Pflmrk 200 S3 8 73 38V 38 38V + V 

20V 14V PrimeC 15 1111 19% 19% 1W 

35 MVPrlmMs Of J 31 222 34% 34 34% - V 

SSAk ProdG 2J0 4J 14 1328 57% 57 57V 

18V BV PrdRah 35. M 23 83 17V 17V 17V 

47’A 33V Proler MS 34 12 37 JOW 40% 40V + h 

24% 17 PSvCol 200 94 5 1488 21V 20% ZIV t- V 


* 10 318 33*k 33 'm 33V T k» 


49 53% PSCofRf 7.15 10J 600Hz AB AS 48 — 1 

21% 16% PS Cel P< 2.10 102 4 20% 20V 20% + % 

10% 6V PSInd 100 11J 10 449 BV 8% 3H— % 
24 20 PSIn pf 3JD 1U Mtz 25V 25V 25V 


9 6 PSIn of 104 123 19Ux t% 8% S%— V 

8% 6U PSIn pf UB 13.1 1250* BV BK BV — % 

53 38% PSIn Of 7.1S 1«J 5B0z 51 50 50 —IV 

71 51 PSIn of 944 1 37 500: 49 69 49 

43 45 PSInpf 8J2 139 2S50z 61% 61% 61%— % 

43 43% PSIn pf BOB 14.1 290x 99V 97 Ut 59% — % 

64 47% PSIn pf 396 140 100z 64 44 64 

7V 3% PSvNH 3 75B 7% 7% 7Vk— % 

15V 7 PSNHpf 150BZ ISA 15% 15V + V 

16 7% PUSH era 25 16 15V 15V— V. 

23 IBV PNH pfC 3 33 23 23 + % 

20V 9% PNH PfD 32 2BV 20% 2BV + M 

21 9'i PNH pf E 17 21 20% 21 + Vt 

18 8 PNKpfF B 17% 17% 17V + % 

19Vi 8% PNHPfG 55 19U IBV 19V + % 

29% 19% PSvNM 208 100 * 1300 26V 25% 26V -61 

32% 22V PSvEC 204 90 7 4763 29 28% 29 + V 


15 10% PSEGor MB 9.9 13 14V 14% 14%—% 

40% 30% PS EG Pi 4J0 llO 40x39 39 39 

20V 15V PS EG Pi 2.17 114 25 19V 19 19 — % 

23 ’m 17V PSEGpl 243 10,9 6 22% 22V 22V. 

108% 96V PSEGpfl325 II J 90X108 107 108 -61 

73 56 PSEG Pf BOB 11 J lOOz 70 70 70 —1 

69 53% PSEG Pi 702 11J 10X46% 66% 6&%— % 

48% 52 IA PSEG Pf 740 1IJ 2000Z 65% 65 65% * Vi 

08 69 PSEGpf 9J2 11.1 310x 87 85% 87 

4% TV PvtoHck 43 7% 2% 2% 

15% 9'A Pueblo .16 1.1 12 28 15 14V 14V — % 

9V 6 PRCem 5 21 6<A 6 6 

17 10% PuuelP 1.74 11.7 8 353 15Vk 15 15 — % 

21V 11 '4 PulleHm .12 O 20 377 14V 15V 16 — V 

32 20% PurolaT J4| 30 2450 21V 20V 21 


Hoating-Rate Notes 


Dollar 


luoer/Mol 
Allied Irish 95 
Allied Irltt 92 
Allied Irish 87 
soled Irish Pern 
Arab Bu Corn 71/96 
AHanlk; Fin »/94 
Autaolstas9S 
Ba> Comm Hal 96 
Boa Naz LovoroTl 
bcddi Rama 89/91 
8a) CH Rmo92 
Bca Sonia SMrin 91 
Bangkok Bk DOIMthlvl 
Boa Coro 97 IMHkrl 
Bk Greece 91/96 
Bk Greece tj/ 77 
Bk Ireland 89 
Bk Irekmd 92 
Bk Montreal 90 
Bk Montreal 96 
Bk Montreal 91 
Bk New York 96 
Bk Nam Scotia mm 
Bk Nava Saha 94 
Bk Tofcvo 93 
Bk Tokyo 89 
Bk Tokyo 87 
Bk Tokyo FeMB/71 
Bk Tokyo OkM/VI 
Bankumertca 0/5 % 
Bankers Trust 08 
Bakoers Trust 94 
BMCoOfiMM 
Bafl Fin 17/91 
Min* 95 

BW Inf 99 

BU lid 93 iMttiv) 
BqlndOSaezBt 
Ba iratosuez 99 
BuM? 

Bk*B7 
Bice 97 (Cod) 
BknOCH 
Bftx JmM 
Bice T9 

Bo indosuez 97 (CbpI 

Bnp9j 

Bnp97(CaPl 

Bnp 05/88 

Brn> 16/96 

Bnp 99 

Bnp 89 

Bnp 88/91 

BnpjutH 

BnaOSIMIHv) 

Bq Partaas Perp 
Ba Worms 89/94 

Bar dors Bk Perp 

BorcwrsO/SIS 


Coupon Next Eld AM 
7V 14-12 9963 9973 
9h 77-10 1081710022 
BV 08-01 99.90 100JH 
BV 20-11 9575 9A7S 
10% 1849 99J8 99JS 
9 27-98 1B0.1D1005D 

9V. 87-11 99.38 9748 
I 06-12 99 J8 99 JO 
9% 2B-H) 1002210032 
VK 09-12 99 JO 99 JO 
8225 27-00 99JS 99.15 
8fc 29-11 99.13 9923 
8 11-10 9065 90J0 

TV 0949 9VJ05 99.15 
OV HtM«B 
9V 1348 9830 9840 
B» 3MB naJUIOO.15 
SV 27-41 99 JO 10025 
7W 20-12 HOI 118021 
8V 2W0 nSJDWUO 
9% 31-101005710067 
7V 15-10 99 JO 9991 
9k. 31-10 1007010088 
8% 1341 100J3100J3 
9h 24-10100.1210027 
14040 

BM 2941 99 JO H015 
9% 06481001018021 
8% 12-12 99.97 1D0J7 
IV 304* 99 JO 99J0 
7V 11-09 9969 9929 
7V 254 9 100H1Q02S 
IV U-OB 1001410024 
10V 3049 9941 10012 
BV 17-12 1002910039 
9% U-14M013MDZI 
I 17-14 95.65 99J5 
knaeiaun 
10% 2549 100J1HBJ1 
7V 2049 99J5 100. M 
- iB8.eflioa.io 
U-1I99J6 99J6 
9V 20-101101810021 
IV 2241 1000210012 
10% 1349 I002BHQJI 
16-11 99J9 9969 
9% 8640101.1614121 
IV U-H 99.44 99J6 
BV - HJS.18169.2B 

IV 13-12 1003710047 
TV 05-12 99-73 9981 
K 12-11 WUSHXU5 
1096 064VWLW10L20 
BV 2241 99-98 100JB 
8 17-18 9964 99 J4 

7V 11-071003010840 
9% 0648 10UH100H 
IV 041 9928 99J6 
8V 10180101.18 


07-11 
79k 1041 
IV 16-12 
814 2141 
10V 1HP 
9J5 2041 
IV 1341 
9V 2741 
7V 85-12 9960 
BTC 12-1110016 


RfeGLEMHOT DE GESTION DU FONDS 
CORTEXA INTERNATIONAL 

Modification de r Article 19 
Artide 19; Coraotit 

Paribai Awet Manage riienl Inc., New York, en taut <ja'aetion- 
naine de la Sodile de Geation el La Baaqne Paribas (Luxem- 
bourg) S.A., Luxembourg eo tanl qu’actknuiaire de bi Sod£l6de 
Geslion et en tanl qne Banque Deposilalre aarantissent conjolo- 
lenxenL el solidairemenl 1'observation par la Socf£t£ de Geslion 
de Unites lea clause* et conditions du present Reglement. 

Fail 3 Luxemboiug 

Pour Cortexa Geslion SJl. 


in land 95/80 
Indonesia 18/93 
IHNov* 
hrlond 96/99 
lratandT7 
Ireland 94 

isvetmarTO 

IWyW 

Italy 89/94 

Italy 05 

C lien 17 

J» Maroon 77 

KanFatW 

KeminiOYTS 

Kletawnrt Ben 91 

Klebnmrt Ben 76 

Kleknmrt Ben Pure 

Korea Dev Bk St/87 

Korea Exch Bk 15/18 

Lincoln S+L 79 

UaydsBkPsrp 

Lloyds 93 

UavdsTS 

LkndiOi 

LtahJuW 

UcbBS 

Liable 


27-11 
8Tk 0748 
041251641 
1% 2141 
IV 22-H 
7V 0647 
IV 15-11 
BV 24-10 
BV 1541 
BV 31-12 
IV 2241 
8V 041 
PV 1149 

9 14-11 
1% 29-11 
IV 2749 
7Tk 0649 
10V 3049 
BV - 
IM 2347 
MV 27-08 
IV 28-11 
8% 24-10 

1442 
TV 1941 

% su 

BV 041 
TV 07-10 
IV 20-11 

10 1647 
WV 3740 
IV 1041 

12-11 
IDV 0447 
BV 12-11 
■V 2741 
10V 2347 
BV 2041 
BV - 
IBV 2547 
IV 2048 
10W 27-09 
IV 29-11 
BV 05-17 
TV 07-10 
IV 12-12 
B 09-12 
TV 3VI0 
BV 06-13 
7% 18-10 


IV 2612 
■V 03-12 
IV 18-12 
MV 0647 
HV 1149 
9W 07-TI 
Wk 1847 
IV 20-11 
ID 2741 
BV 2047 
WV 3048 
IV 29-1] 
«% Ml 
BV 0841 
09k 20-11 
10V 11-47 
IV tun 

TV. 07-11 
BV 28-11 
TV 1341 
TV 05-0 
79k 1041 
7V 10-10 
BV 27-11 
IV 20-11 
IV 1741 
07-11 
IV 20-11 
14V 1049 
IV 12-12 
•V 1448 
I 16-12 
IV 17-14 
TV 2148 
18 1341 
1542 


Non Dollar 


Inver/Mat. 

Anz Bks 97 
Bk Montreal 74 
8k Takya 08/70 
Bn indosuez 91 
BetaulmM 
CH karp 89/91 
Con Gold Phi 9S 
GanmcM 

Cr Fonder 60 

CrNatfonol 91/95 
Dmwrfc 72/91 
IBM 

lrahnd73 
irakndH 
LtoVdsEuraM 
Mm BkOHl 74/79 
Mta 0k Den 91/94 
MM 14 
R8S 15 
Sod 90/93 

Stand Chart Sta Perp 
Yorkshire Inf 91/96 


Coupon Hud BM 

n% 

• nv 

12V 
12V 
12V 
12V 
12V 
T2V 
12V 
12V 
12V 
12V 
1W. 

12V 
T2V 
12V 

nv 

13V 
12V 
12V 
12V 

rev 


ADVERTISEMENT 

INTERNATIONAL FUNDS (Quotations Supplied by Funds Listed) July 30, 1985 

Net aswt vain awtattam ore smfflsd by the Fuads listed wtth the excnptlaa of soms asotas based on Ism price. 

The morainal symbols indicate freqeenev of quotations supplied: (d)-dony; (wl-woefelv; (bl-bf-moafhhr; (r) - regularly; (1) - Irraaidarty- 


AL MAL MANAGEMENT 

.(w) AI-MOI Trust. SA 

BANK JULIUS BAER & CO. Ltd. 

-I d 1 Baerband 

-fill Conbor . . .. ■■■■■_ 

-( d ) Equlbaar America 

-I d I Eaulbaar Europe 

-J d ) Eauibcer Pacific 

-C d 1 Grabor 

-( a 1 Stockuor __ — 

BANQUE INDOSUEZ 

■Id 1 Aslan Growth Fund 

-(w) O (verba nd 

-twl FI F- Amec lea,,. 

-1«) FIF-Europc . 

-(w> FIF-Podfic 

-l a 1 IndOMicz Mull ttnnds A ____ 

-Id I Indosuez MuRlbands B 

-I d I Indoswn USD (MJrt.Fl 


BRITANNIAJ’OB 271, St. HHIer, Jersey 


FIDELITY POB 670. Hamilton Bermuda 
S 1*5.17 -fm American Values Co*nmon_ % 98j05 

-Im Aitar Values CumPref s 102X2 

SF 919.75 -Id FMelltV Amor. Assets S 71.19 

SF 12I2A0 -Id FMelHy Australia Fund I 9.94 

S 119600 Hd Fidelity Discovery Fund. i lass 

SF 123000 -{d FUMIIV Dir. Svat.Tr S 123.19 

SF 1162i» -{d Fidelity Far Ensl Fund I 2025 

SF IOQSjOO -I d Fidelity Inn. Fund S 64J5 

SF 1567.00 -( d FkwnY Orient Fund S 27.11 

_ -td Fidelity Frontier Fund S 1UV 

S 1087 -I " Fidelity PocHIc Fund — S 130.97 

SF B4JJ5 -(d Fidelity SucL Growth Fd. 5 15J7 

8 18J1 -Id FMetlW World Fund % 2216 

S 12JO FORBES P<7 B1S7 GRAND CAYMAN 
1 1723 London AoerU 81439-3013 

S 9B.06 -(» Dollar Income s 847- 

S I61J6 -fw Forbes High Inc Gilt Fd ( 0.971 

* 1015.71 -( w Gold Income % &23 


■Hwl Llovds Inti N. America s loaoo 

-Hw Uovds I nr I Pacific—-. — SF 12750 
-+lw) Llovds IntT. SflHdlerCos— S 15.14 

NIMARBEN 

-IdldaasA S 9245 

-(») Class B-U4. — S 10229 

-(W ) dess C- Japan S 8458 

OBLIFLEX LIMITED 

-fw) Multlcurmncv 8 1UD7 

-(*») Dollar Medium Term S 1078 

•Iwl Dollar Lana Term. s lOjv 


■Iwl Japaneie Yen_ 
-fw) Pound Slefling. 
■rt-ni Dnitata Mark. 


_S 11 JOT 
_1 1178 

% 1459 

— 5 11.15 

_£ 1073 
DM 1056 
-FL 10.42 
-SF 9.98 


• -fw) Bril. Dollar Income S 

-fw) BrifJ AAanofl-Curr 1 

-l d 1 Brit. IntLS IWanaajiortl S 

■Id) Bril. inllX Manaa-Pnrtf c 

-(w) BrlLAm. Inc. 4 Fd Ltd S 

-fw) Brll.Geld Fund S 

-Iw) Brl I Jrtunoa. Currency ( 

-( d ) Bril. Japan Dir Pert. Fd 8 

-iw) BrltJersev GIH Fund C 

-1 a j Brit. World LelS. Fund $ 

-Id) Brit. World Techn. Fund S 

CAPITAL INTERNATIONAL 

•(w) capital inn Fund 1 

-C w I Capital Italia S A S 

CREDIT SUIS5E (ISSUE PRICES) 

-Id) Actions Suisse* SF 

-I d I Band Valor Swf SF 

-fd I Bond Valor D-mark DM 

-«t) Band Valor US^JOLLAR — i 

-I d l Bond Valor Yen Yen I 

• Id) Convert valor Swf SF 


l-lw) Gold Appreciation. 


0583 -Im) Strategic Trading S 1.16 

956- GEFINOR FUNDS. 

1.125 -1 w) East investment Fond s 33239 

113.1 -i w) Scottish World Fund t 10954 

1 590 -(«> stale St. American S 168.97 

0529 Captl.TrueLLM.LonJ(0enUn-491423O 
1193 GLOBAL ASSET MANAGEMENT CORP. 
1425 PBH7, St Peter Port, Guernsey. 0481-28715 


_ ( 0223 -(ml FuturCAMlA. S 15457 

- $ 1.162 -imi GAM ArbHrooe Inc S 12556 

- S 0,729 -iw) GAMerlca Inc S 1«U1 

-fw) GAM Australia I nr . S imm 

- S 38.93 -fw) GAM Boston Inc S 11874 

_ S 15J6 -iw) GAM Ermllase— ... .. ■ S 1557 

ESI -tw) GAM Franc-val SF 10466 

SF 40440 -(wj GAM HOnfl Kano Inc. S 10040 

SF 10W5 -fd) GAM International Inc. S 11543 

DM 112.10 -(**) GAM jooan Inc. S liup! 

S 120.25 -(w) GAM North America Inc S lW.ii 

Yen 1091B.tr Mwi GAM N, America UnH Trust. 10640 p 
SF 11855 -Cwi GAM POctflc Inc S 11556 


-(d) Conwert Valor US-OOLLAR. S 120.101 -I m I GAMrint Carp. 


-Id I Canwe c ... — — _ 

A d l CS FendsrBonds — . 

-Id) CS Fonds-lnl’l 

-( d ) CS Money Market Fund- 


SF 76040 -(wj GAM SmaoPere/Mckry lne_ S 10800 

SF 75J5 -iwj GAM SWrlS. Inti UnlTTruSt 13UDp| 

SF 11875 -(m) GAM Systems Inc S 103J2 

5 107740 -(w) GAM Waridwide ir w . s 154RI 


-(wl Dnutariw Mark DM 10 5*. 

-(w) Dutch Florin FL 10.42 

-Iw) Swiss Franc SF 9.9# 

ORANGE NASSAU GROUP 
PB 85578. The Hague (070) 469670 

-Id > Bevtw BclegpIngefvH- S 3250 

PARISBAS-GROUP 

■Id) Cortena International s 9025 

-(W)OBLI-OM DM12195S 

-fw! OBLIGES! ION SF 945S 

-fw) OBLI-DOLLAR SI1B&53 

-IW) OBLI-YEN Y 10368940 

-fw) 06 LI -GULDEN FL 1072J1 

-id i paboii -rniin- j 95.97 

-(d) PARINTER FUND S 11356 

Jd) par LfS Treasury Band s lifun 

ROYAL B.GANADA.POB 246J7UERHSEY 
-Hw) RBCCOnedBan Fund Ltd.— S 1126 
•+(w) RBC Far East&Podflc Fd- S 1152 

-f(w) RBC InH Cttalfal Fd S 2351 

■+(w) RBC InM Income F(L_ S 1151 

-+( d J RBC MonCurrencv Fd S 2152 

-+(w) RBC North Amar. Fd S 9J3- 

S KANO I FOND INTL FUND (464-23627U 

-fwllnc: BM s 5J1 Offer 5 5.91 

-f wlAcc: Bid S 5-53 Otter i 544 

SYEN5KA INTERNATIONAL LTD- 
17 Devonshire SaAonctafHn -377-8040 

-<r)SHB Bond Fund S 2354 

-tw) SHE Inti Growth Fund S 2343 

SWISS BANK CORP. (ISSUE PRICES) 

-f d ) Amerfco-Volar SF S394C 


fw) Cofumbla Securities.- FL 11164 

(r)COMETE S 76252 

I wj Convert. Fd. inn A Certs, s tool 

<wi Coawrt. Fd. Inri B Certs S 2852 

Iwl D.G.C. S BITS 

Id) D. witter Wkt Wide I vtTst — S 11.16 

( r ) Drakkar Immst^und N.V. S 116922 

(d) Dreyfus America Fund S law 

(d) Drwvfua Raid lnt"L % 39.74 

<w) Drevfis inte r continent S 35.92 

iwj The EiJobllshment Trust % 1.16 

(d) Europe ObUgallans — 6140 

(wl First Eagle Fund — J16J8S55 

t r ) Flth stun LW S YTXW 

(w) Fixed income Trans 1 liui 

fw) FoneeltK Issue Pr. SF 19445 

(Wl Forexfund S 7J1 

(w) Formula Selection Fd. SF 6728 

(d) Foncsitaiia 8 2864 

Id) GaventnuSec Fund* - — S 9257 


■t d I CS Money Market Fund— DM 1046.00j-tm) GAM Tvtfie SJL Cfasd 1 


-( d ) Energle-Valor — . . SF 

-1 d 1 ussee SF 

.(d ) Eurano-Votar SF 

-(d ) Pacific ■ Valor .... SF 

DReXEL BURNHAM LAMBERT INC 
winchester House. 77 London Wall 
LONDON ECS (01 *2097971 


SF 16640 G.T. MANAGEMENT (UK) Ud. 

SF B7740 -(wl Barry Poc. Fd. Ltd. i 921 

§E ■( d ) G.T. Applied Science S 15-11 

SF 1M75 -(d) G.T, Asean H.K. Gwlh.Fd. S 12JB7 


.(wl Finsbury Group Ltd 

.(ml Winchester DiversHied** 

-fm) Winches! er Financial Ltd. 


-Iw) G.T. ASIA Fund 

-( d 1 G.T. Australia Fund. 
-(d) G.T. Europe Fund 


s l2L45l-(w) G.T. Eura Small Cos. Fund S 1138 

} I957l-(d) G.T. Dollar Fund. j 15,16 

* lCU0|-fdir,T HnrtaFunri S 1120 


■tw) winchester Holdings FF 10180 -(d) G.T. GW»I Technlgv Fd. 1 12JB 

— - — S 12-31 -t d 1 G.T, Honshu Pathfinder ___ J 2221 
■tw) Worldwide Securities S/l3%_ S 66J7 -I d 1 G.T. Investment Fund s 1137 

-twi worldwide S mc)oI 5/$ 2to_ S1647.18" -(d) G.T. Japan Small Ca.Fund_ 5 3823 
DIT INVESTMENT FFM _ -t d I G.T. TSinalggy Fund«_Z 1 aLlfl 

-+( d I Omttnhy - -- .... DM 27.78 A d ) G.T. South Chirm Fund S 1492 

-+1 d ) inri RMtentamL- .DM 9340 HILL SAMUEL INVEST. MGMT.llfTUSJL 

Dunn a Haroitt 6 LKnrd George. Brussels Jersey, p.o. B*4 43, Tel 0S4 76029 

(ml D4H Commodity Poof S29248— BenmPa Mf aZL T«41 31^51 

' , " 1 ! u 8, ^! a rE. 0 9 l J1S64B— -Idl Lrossbow (For East). SF 924 


Selection— DM 120-54 

islBsaisge— jss 

-4 d > Intervalor SF 8SJ0 

3S!fiM!ftBBacrJ5 S3 

-(d) Series Foreign Bond Se( SF 107J1 

-I dlSwiavalor New Series SF 33523 

-fdl Unhrereoi Band Select. SF BITS 

-fdl Universal Fund SF 11857; 

-idl Yen Band Selection Y 1020340 

UNION BANK OF SWITZE RLAND 


Selection 


-Id) Amca UJLSIk 

-J d ) Bond- Invest 

J d ) Feme Swim Sh. — . 
•f d ) Jocorv invest 

-Id I Soft! South Afr.sn.. 


SF 3621 
SF 6650 
SF IMS) 
SF S33JD 
SF 391 JO 


-fm) Wincn. Lite Fut. Pool imn- \l SW«S3Sj E ^L=r S? sS 

■tmi Trow world Fuf. Pool S B2L49 — -1 d 1 imm * fSS 

EBC TRUST CO.UERSEY) LTD. -t d i Int C^rencv 11” « 

1-3 Scale St.SI. Heller ,'0534-30331 -fdl 1TF Fd (Technology) t nn 

TRADED CURRENCY FUND. -I d M IN^SlRicAT” I »42 

*>( a line ■ Bid S 1046 OHer S10681 JABDINEFLEMInoTpOB 78GPO Hg Kg 

»( a iCop.: Bio .. S 11-43 Offer -J! 1.7*3 -( r) j.f j jjo 

INTERNATIONAL INCOME FUND I r I J.F IM kSoTtFSI % 3746 

-fdl Short Term -A- tAccum) i 1.4871 ■( r 1 J.F tE5» . v J4S 

-(d) Short Term 'A' (Olstrl 50.9*35* ■! r 1 j.f iSSi y 

■j2'U«n :g: ««s«) — * ™ -fw) j> o^Jth tfe”Kw bJ&I 

•id j Snort Term B (DiUr)___ s 0.7001* «gja 

-(*•) LongTerm^ — — s 2187 -( r) j.f Pacific SecS.(Aeci 1 503 

FAC MGMT. LTD. INV. ADVISERS LLOYDSBANK 1 NTU Pol mGemnm 11 

1. Laurence Pounlv Hill, EC4 01-423^680 ri-(wl LtaSS. |5A rliiuC^ tiic* 

Iwj F&CAUohl.C J 1168 -HwlLlSSmrlEurSie'nr^SF lisS 

•; w J5Kl225*? n 5 -J-lwlLieydi Inn Growth SF 17*20 

-( w ) PbC Oriental $ 2747 --»-fw) Ltoyns Inn Imww . SF 319J0 


-Id) Sima (stock price) SF 20740 

UNION INVESTMENT Frankfurt 

kdl Urdrenta DM 4540 

kdlUnltands DM 2SJ0 

-f d I On Irek DM 79.15 

-(d) UNIZINfl DM 1145S 

Oilier Funds 

wjActfbamB Immstmenls Fund. 5 2260 
; w) Acthwrt inti S 1162 

: ml Allied Lid S 340 

w) Auu Iia Internal lanal Fund __ 8 14474 

r ) Arab Finance 17 s . s »U7 

r ) Artone — S172SJ0 

wl Trutteor Inn Fd. IAEIFJ s 1050 

w) BNP mterbend Fund s lu.44 

w) Bondaeiex- Issue Pr. SF 11445 

m] Canada Gid-Marigaee Fd I 923 

dt Capital Preserv. Fa Inti S 11.47 

w) Citadel Fund. ..■■ ■ S 142. 

d ) CJ.R. Australia Fund — s 957; 

d ) CJ.R. Japan Fund—. J. 1027 

ml C level cnl Offshore Fd. 1211157! 


(d ) FranfcF Trust Interzlns DM 4342 

fw) Haussmann HldOV N.V % 12526 

(W) Hestfa Funds S 106.96 

fw) Harlzan Food Slain 

(m) IBEX Hahdngi Ltd — SF 11X40 

(MILA Inti Gold Bood S 946 

id) intertundSA .. s 15J5 

(wi Intermarkst Fund S 30822 

( d ) Intermtnfnp Mut. Fd. CL"B' — S 67840 

( r ) IntT Securities Fund S nun 

Id) investa OWS DM 5020 

(r) invest Airmrilques S 867 

jrl iraltortune Inti Fund 5A S 1X98 

(wl Japan Selection Fund — . s 11622 

(wl Japan Poctflc Fund S 9940 

(m) Jetfer Ptm. IntL Ltd S110S262 

(d> Kleinwort Benson lnt*l Fd.— S 2343 
(w) Kleinwort Bene. Jop. Fit . . S 7062 

(w) Korea Growth Trust S 97* 

(d ) LMcom Fund S 131147 

(wi Leverage Cap Hoifl — s law 

I d J I Ifnibwipr $ ITWne 

tw) Luitfund S 7X16 

Im) Moonafund N,V._ S 19365 

(d) MMfofonufn Sef. Fd. S 17.15 

(rl Meteare Y 10X644 

(W)NAAT S 10.78 

(d) Nlkko Growth Package Fd— *789720 

(w) Nippon Fund. S 2952- 

(ml NOSTEC Parttolia — . S 5200JB 

|w Ngvotte investment Fund— S 9467 

(wi NJLM.F S 16151 

jmlNSPFJ.T — S 169 JO 

i a > Pgdfic Hartnn IrwL Fd 1 111240 

(w) PANCURRI Int — S 1X6* 

(rl Parian Sw.R Egf Geneva- SF 13*740 

I r ) Permat Valve N.V. — S 1284661 

(r)PWodo* S 107246 h 

(w) PSCO Fund N.V. — S 13272 

Iw) PSCOIntLH.V— . S IffiJSf 

(d) Putnam tnH Fund S 6661 

( r ) Prl-Tech — S *24js 

(w) Quantum Fund N.V.—. *439464 

(d j RMla Fund - LF 272240 

ltd) Renttnvest LF 1QSJ8 

(d) Reoerve Insured Deposits •— *109673 

I w) Samurai Portfolio SF W75 

(d) SC 1 /Tech. SA Luxembourg — * 748 

(w) Seven Azrgws Fund N.V...— * 82567 
(w) ante St. Bank EaullyHdBfiNV_s 1063 
(w) Strategy Investment Fund— * 7X08 

(d) Syntax Ud-'ICtassA)' — ,* 966 

(w) Techno Grawih Fund - SF 8671 

fw) Tokyo Pac Hold. ISeO)— — S .8445 

( w ) Tokyo Pot Hold. N.V S 11662 

(w) Tramoactflc Fund — J .7773 

(d) Tura u e lee Fun d * 104 73 

fw) T weedy 3rewn# rvv.CJassA — *25X52 
(wi Tweedv^rawne n.v.dassB — 5 158264 
(m) TweedvArawne (U.K.1 n.v— . S 100122 

(d)UNico Funa DM.RR 

Id) UNI Bond Fund — *107779 

l r ) UNI Capitol Fund .... , — s 1 12724 

(wi Vanderbilt Assets * 1X20 

(d) World Fund SA. — S .11J8 


P™' SF - Swiss Francs; a - asked: + - Offer Prtem.-b ■ bid change P/v *10 to *1 pot unit; NA.- Not 
Am? Prtr«'.S? , 5P aod (, S/s L 5 ' 04 * Spill; ■ ■ Sx-Dtvkteid; — - Ex-Rts; — ■ Gross Performance index June; • - Redempt- PtIcp- Ex-Couoon; 
Formerly Worldwide Fund Ltd, $ - Offer Price ind. 3% prelim, charge: ++ - dolly slock price as on Amsterdam Stack Exchange 




JDC3^ 


"Find outflow many light years it will take before 
the entire universe knows about Grow Group'.' 


For our FJfrl Annual Rep* *rt. write; 

( Grow Chemical Europe N-V-. OuUesrnut N 
B-2ft30 .Aartsclaar, Belgium. DepL (I 

crow Group 

Awlgrip. Devoe, Ameritone, three of our well-known brand ■ names 


Source C rvdV Suborn-FInf Boston Ltd. 
London 


3S% 
92 13*. 
152 2S*. 
428 U*> 
332 26% 



40 

19 


360 

86 

35 

152 

46 

9 

1 56 

47 

1 


77 

A 

6790116 


60D XB 


260 

1.9 

14 

.18 

U 

IT 


16 

16 

262 

XJ 

7 

160 

3.2 

12 

268 

36 



104 

+1J 15J 



41 ■■ 41% 

35L. M . 


41 SIX. 
14* 5% 

25 14 

4% 2'- 
satu it 
3% 2V. 
11% 5% 
46% 264» 
13*> **. 
25% 174- 


*1*. 69% 
70% S3 
27% 12 
45% 39% 
83H 63% 


VFCOfP 
Valero 
voter of 
valor In 

VanOm 

VarcP 

vareopl 

Varlon 

Varo 

Vttco 

vendo 

VostSe 

vkwpm 

vaEFnf 

vaEPnf 

VoEPof 

VoEIPf 

vaEP of 

voEPet 

vishovs 

VornOd 

VutCWM 


1.1= 34 10 98= 
SIX 

344 134 29 

S* 

.93 16 7 32 

139 
1 

.X 1.-0 22=6 
63 3J 34 J7 
.40 24 15 20* 
295 19* 
IXOalLO 35 
.48 14 70 7*«S 


860 100 440z I 

975 104 1»4B0r 1 

7 AS 109 BQ* 1 

17 32 : 

12 I ' 
240 34 1] 194 1 


H * . 

?* 2'i 

zn. :«•- 

1% 3% 

*•« 

*»•. 31 - i. 

is * - ■. 

I9=. » •« 

10 to - - % 

104. 10’* * '* 
49 44 -—Is 

72'» — L 

78 re -3'. 

n ’! - . 

B* 0s 

H 90 *1 

68% 9?T * *. 

24'-* 25' ■ 4 - . 
43 - 43'- 

f?'l 82' 1 — 


50% 31% 
36% 244 
12% 7% 

21% 12 
26% 17% 
8T% 64 
7% 1% 

87% 52% 
19% 12% 
71% 15 
81 50 

36 23 , 'k 

15% 12% 
68% 524 
SU 2% 
30TU22SU 
24 13% 

48% 274 
40% 27% 
45V. 324 
104% 91 


TDK JUe £ 
TECO 134 77 9 
TGIF 13 

TNP 175 67 9 
TRE IjDO 35 17 
TRW 3J» 3J 11 
Toe BOOT 

TcfIBrtJ 1.16 1J 16 
Tgitay .1% J u 
Tolley pflJM 47 
Tombrd 120 47 14 
TCBMY IS 

TfXtYCft 13 

Tektrnx IJX) U 14 
Telcom 7 

Trfdvn 10 

Tetrate 72 26 22 
Telex 11 

Templn 64 16 10 
Tennco 2.92 76 14 
Tenc pr 1160 106 


62 31% 30% 
421 31% 304 
99 104 10% 
79 18% 18% 
326 25% 25% 
461 774 76% 
160 2% 2 
212 78*. 77% 
33 17 10% 

7 2116 21 
107 761* 74% 
3291 31% 304 
3 U 14 
321 ffl% 62% 
90 3% 3% 

292 2547% 251 
1665 164 154 
1073 43% 42% 
286 39 38% 

1799 42% 42 
253 MU* 103 


31% — 

MX. 

10% + 1A 
184 + 4 
25% 

774 + Vk 
2% + % 
78 — % 
184 — Vk 
21% + % 
744—14 
31% + % 
14 - % 
624—4 
34— % 
251% -2% 
15*.— 4 
42% 

39+4 

42 

103% + 4 


Seles figures ore unofflelaL Y«griy high* and taws reflect 
the orevious S2weekc plus the currant weetabut not the latest 
trading dov. Where a sent or stock dividend amounting to 25 
percent or more has been paid, 11% year's htah-taw range end 
dividend are shown (or the new stock only. Unless otherwise 
noted, rates of cfivldemb are annual disbursements based on 
the latest declaration, 
a — dividend also extra(s). 
b -- annual rate o( dividend plus stock dividend, 
a — liquidating (flvldend. 
ckt— called, 
d— new yearly taw. 

e— dividend declared or paid hi preceding 12 months, 
g — dividend In Canadian hinds, subleer to 15% non-residence 
tax. 

I — dividend (teetorad after spflt-ua or stock dividend. 

I— dividend poktmis rear, omitted, deferred, or no oaten 
taken at latest dividend m e eti n g, 
k— dividend doctored of poM this vear. on accumulative 
issue with cUvMenas in arrears. 

n — new Issue In the oast 52 weeks. Tiwnigh-townswe beams 
wttn n» start et traatna. 
nd — next day delivery. 

P/E— price-eamlim ratio. 

r— dividend Hectored or paid In preceding 12 months. Plug 
stock dividend. . 

1 — stock soift. DMdcnd begins with dale of spilt, 
sis— sates. 

r— dividend paid to stack in preceding 12 months, estimated 
OOSh value an ex-dk/Mend or oxostrtautlen data, 
u -* new vearl v btoh. 

v— trading hatted. 

vi— in bonknxrtw or raeeiverjWP or being reaitataed un- 
der me Bankruptcy Act. or securities assumed bv sacn cam- 
pm>tas. 

wd — wtwn atstrtbuted. 
vri— when issued, 
ww — with worrarts. 
x — ex-dtvkJend or tx-rtgms. 
xdta — ex-dlstrlbuttan. 
xw— without warrants, 
y— ex-dh/ldend and sales In (ulL 
yW— vtaid. 
x — sates In falL 


Safeguards Sou^it 
In Futures Trade 

Washington Past Service 

WASHINGTON — U5. regulators have 
taken steps to improve safeguards for commod- 
ity traders in the aftermath of a gold scandal in 
March that has tied up S13 million in customer 
funds. 

The Commodity Futures Trading Commis- 
sion voted unanimously Monday lo seek public 
comment on proposals to increase capital re- 
quirements for companies and to set rn.truin 
guidelines for certain risky options transac- 
tions. 

The agency also sought comment on how best 
to transfer or liquidate individuals' accounts 
when a commodity brokerage firm goes broke 
and asked the National Futures Association, a 
self-regulatory organization, to study establish- 
ing an investor insurance fund. 

On March 20, Volume Investors Coro., a 
member of the Commodity Exchange in New 
York, collapsed when it was unable to come up 
with funds to meet a margin call by the Comex 
clearing house. The broker’s default was caused 
by the failure of three customers to come up 
with $26 million to cover losses on gold options. 

The customers, apparently reckoning that 
gold prices would fail, had sold short-call op- 
uons promising to sell gold at a fixed price 
When gold soared $44 an ounce overnight they 
were unable to cover (heir losses. Volume Inves- 
tors failed and its collapse tied up the accounts 
of about 100 other customers. 

Futures options give the buyer the right to 
miy or sell a futures contract on a commodity A 
short-call option means that the option writer 
2“ bet® that the price of the commodity win 
decline or remain stable, has to deliver the 
contract or its cash equivalent if the price 

Last week. Volume Investors' owners a-reeri 

ssj^TSKKsjsaasg 

issory note. In exchange, Comex agreed not to 
take action for violation of its rules. 0 


!*'■* * 

4* 

43 - 


» -» 


2* — 


a- - 


in. — 


244 


74 — 

l l 

38H — 


35% 


9‘. 


47% — 


24. 


37 * *» 

39'-> * 4 

JCV.— 

•J 

3% ♦ 

L- 

B% — 


*0V,_ 

H 

24j 


9*. — 

■n 


S5VS 23'« Xrror 370 5J s 

w *^0*0* 565 I3C 

29 19% XTRA 64 JJ 10 


5U*. ^ !J5 ** W 

?Ui <U* Zanoia 64 a* ic 

57% 28% Javras 4fl 1 J '4 

38 1715 Znrinr ,« 

5 eT0 ’ J2 !’ 

35% 22% Zurnln i-- ij ,i 


re 

ta 

vt * w 
34-— >» 
n% + w 

6-5 

Ji 

69'- — - 
78 * t» 

354 * Jk 
36-'- — — jl 
36'-— ta 
12% + .ta 

44 a.— A 

3W+ %■ 
13«i + ’■« 
* % 


!73S Cta ST s ST- 4 ' 1 ... 
'J S4"t U-s SCr- - 
M 35ta CT-i 2SV4-D , 


S 27%-ta 

283 ai. e% . 

sere 4*4 Kta +W 
?6? i*H »I- 2 
y zV-m K 20 “ * 

14! li'-i 33=» 33.5 



Am Holst 
BuriNaot 
Davao pi A 
Ewnk 231 p( 
LIL Coats 
Deb 2150! 
TalEd 172 bI 


Bckt r ind 

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NEW HIGHS 28 

36Bc»aoi o! Hi: Pei 
CetgPaim Cw£ ;!73ot 
DMErSot CukfPotD 
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Z Q G 


11 1 1 * i IT' 
Q c „ ' 


BUSiWESSROUNPUP 

Bank ol America to Cnt 2,000 Jobs Worldwide 


mi TFBN A TIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 . 

— ' " BUSINESS PEOPLE 


Page 11 




SAN FRANCISCO — -Bank of 
America announced Tuesday a i* 
organization of its world banking 
division that will e&mnate 2D00 
jobs, about 10 permit of the divi- 
sion’s staffing? • .. ; . 

The jobs will be eliminated 
worldwide in 12 to V& months on- 
dar the "plan, which officials said 
would save more than $60 milHon a 
year Other dements of the plan 
include reorganization of the 

bank’s Noth America cmnaon ana 

further integration of commercial 
and investment banking activities, 
officials sail 

“The actions that we w 31 take in 
the months ahead will strengthen 
our worldwide network delivery ca- 


pability and better enable ns to 
grow and build our core Interna- 
Lionel business,” said Robert W. 
Frick, vice chairman of BankAmer- 
icaCotp. 

Tbe news followed an announce- 
ment that BankAmerica, the parent 
of Bank of America, which report- 
ed a net loss of S338 million for the 
second quarter, is seeking to seD 
FinanceAmerica Corp-, a commer- 
cial and consumer finance compa- 
ny with nearly S3 bflHcm in assets. 

BankAmerica acquired the fi- 
nance company 11 years ago for 
£400 milli on- It includes a consim- 
cr-fi nance wing with 250,000 cus- 
tomers and makes loans out of 300 
offices in 42 states. The unit has 
been profitable since it was ac- 


quired, a bank official said, but had 
profits of only $20 million last year 
oaassetsof S2J billion. 

The sale of theunitis expected to 
bring BankAmerica $300 million to 
$400 million. Wall Street analysts 
said. 

Part of the reorganization plan 
^nniwiwri Tuesday calls for cre- 
ation of a ri rfck worldwide organi- 
zation called Global Trading that 
will han dle foreign exchange and 
securities trading 24 boms a day. 
Other activities, such as correspon- 
dent hanking and trade finance, 
wiD be bandied by a new unit called 
Network Markets.. 

David A. Coulter, a. vice presi- 
dent who headed the task force that 
recommended the changes, was 


nanvd chief adminis trative officer 
of the world banking diriaon. 

ljua week, BankAmerica said it 
was considering several moves to 
cut its losses, including the closure 
orsaleof 10 to 15 of its 99 branches 
in F-arin America and the Caribbe- 
an. 

The company said the layoffs are 
part of a major resmictming that 
will concentrate on gaining busi- 
ness from larger corporations and 
on customers that can take advan- 
tage of the bank’s global network. 

Another objective will be to 
combine foreign exchange, money 
and securities trading now handled 
in London, New York, Tokyo and 
San Francisco, under a single orga- 
nization. (UP I, Reuters, LAT) 


Rockefeller Group to Offer 
Shares in Manhattan Center 


By Steven E. Prokesch 

New York Tima Service 

NEW YORK —The Rockefeller 
roup, the investment company 


owned by descendants of John D. 

Rockefeller Jr., has announced that raise $5( 
it plans to raise S1.1 billion in a vertible 
transaction that could ultimately United 
result in 60-perceni public owner- billion, 
ship of Rockefeller Center. ings. w0 

The transaction involves the ere- feller Gi 
ation of a new company, Rockefel- Rockefe 
ler Center .Properties Inc^ that A res 
would own the 12 landmark build- wbich i 
ings and the 11.7 acres (4.7 heel- distribu 
ares} of properly beneath them in a income 
three-Mod area. That includes 62 By doii 
nriHiou square Teet (560,000 square federal l 
meters) of office and retail space, pay am 
The brnkfag* and land have an who do, 
appraisedvalue of $1.6 billion. eral taxj 
Sheldon Seevak, a partner at The i 
Goldman, Sachs & Co., which is panyan 
the lead manager in the offerings, a majoi 
said Monday that the transaction Rockeft 
would be “by far the Largest real money 


mi 

1 • 2 I V 

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* £&' 
;; va- % fi- 

V-. • - kH k_ 

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The new company, which mil be 
a real estate investment trust, in- 
tends to sell 30 million shares at 
$20 a share in the United States to 
raise $600 million. It also hopes to 
raise $500 milli on by offering con- 
vertible debentures outside the 
United States. In mm, the Sl.l 
billion, less the cost of the offer- 
ings, wiD be lent to the two Rocke- 
feller Group partnerships that own 
Rockefeller Center. 

A real estate investment trust, 
which resembles a mutual fund, 
distributes substantially all of its 
ineonr in the form of dividends. 
By doing so, it is not liable for 
federal taxes, thereby enabling it to 


pay a hi gh er dividend to investors, 
who do, nowever, have to pay fed- 


eral taxes on the income. 

The formation of the new com- 
pany and public offering represents 
a major step in restructuring the 
Rockefeller fortune. Part of the 
money is to be used to pay back 


estate financing in history and one $400 million in; short-term debt 
of the laraKtmitial public offer- that was borrowed to buy lire land 
Srs ever done in the United beneath the center earlier this year 
Slates." fro® Columbia University. 


COMPANY MOWS 

Alfied Coen and the U^. govern- 
ment said they have reached an 
agreement in principle to settle an 
antitrust suit that the Justice De- 
partment ha d intended to file chal- 
lenging Allied’s proposed merger 
with Signal Cos. Allied agreed to 
sell its turbine starter business to 
resolve antitrust concerns. 

British Telecommunications 
PLC has told the government it will 
not buy shares in Mitel Cap. while 
its proposed takeover of the Cana- 
dian company is being investigated 
by the Monopolies Commission, 
the Office of Fair Trading said. 

The Evening News Association, 
which owns The Detroit News and 
several television stations, has re- 
jected an unfriendly, S45 3- million 
takeover offer from Norman Lear 
and A. Jerrold Perracbio. The Los 
Angeles entertainment executives, 
who offered $1,000 per share in 
indicated that they might 
consider selling several of the fam- 
Qy-cantrolled company’s assets. 

McDonnell Douda* Corp. said it 
is seeking orders tor its proposed 
MD-l 1 tri-jet airliner ana said the 
Erst aircraft could be ddiveied by 
the autumn of 1989 if it has suffi- 
cient orders by January 1986. Mc- 


Donnell Douglas said it is making 
offers for medium-range, long- 
range and freighter MD-lls. 

Nippon Yosen KK stud Tuesday 
that it win buy three VLCC tankers 
from Texaco lnc. for about 10 bfl- 
lion yen (about $42.1 million). A 
Nippon Yusen spokesman said 
that the tankers are under charter 
to Mitsubishi OO Co. and six to 
nine years of the 10-year con tracts 
are left to run. 

Norake Shefl A/S, a subsidiary 
of Royal Dutch/ Shell Group, has 
found oil that the Norwegian Pe- 
troleum Directorate has said had 
“among the best independent re- 
sults carried out on the Norwegian 
Continental Shelf." The directorate 
said that the find, in the Draugen 
Field off central Norway, tested 
light oil at 15.700 barrels per day. 

Whedock Maiden A Co. said if 
has made provisions for losses of 
up to 55 milli on Hong Kong dollars 
($7.1 million) for its half -share in 
Whedock Maritime International 
Ltd. and decided not to provide 
further assistance . to Wheel ock 
Maritime, which reported a net loss 
of $10.19 million in the six months 
June 30. 1984. Full results 
tor 1984 have not been disclosed. 


j Burton PLC Bid 
ForDebenhams 
Predicted to Fail 

Iniematioaaf Herald Tribune 

LONDON — House of Fra- 
ser PLC has a strong chance to 
block Burton Group’s £550- 

milli nn ($781-million) bid to 

take over Debenhams PLC in- 
vestment analysts said Tuesday. 

Fraser, which owns Harrods 
and 100 other British depart- 
ment stores, said it had raised 
its stake in Debenhams to 1752 
percent and would continue to 
buy shares in the company, 
which also operates department 
stores. Fraser said it would re- 
ject Burton's bid as "inade- 
quate.” 

Debenhams and Fraser said 
that they intended to cooperate 
in their credit-card operations, 
merchandising and distribu- 
tion, assuming that the Burton 
bid fails to win control of De- 
benhams by Friday’s deadline. 

On the London Stock Ex- 
change, Debenhams shares 
slipped 8 pence, to dose at 313 
pence each, below Burton's 
cash offer of 327 pence a share, 
reflecting doubt over tire bid’s 
chances of success. 

Several analysis said the like- 
ly outcome is too dose to call 
But analysis at both Wood. 
Mackenzie & Co. and James 
Capel & Co. said the odds 
seemed to have moved against 
Burton. 

Burton, a clothing retailer, is 
backed in its bid by Habitat 
Molhercare PLC another Brit- 
ish retailer. 


Pan Am Names Executive in Europe 


By Brenda Hagerty 

International tfenddinbune 

LONDON — Pan American 
World Airways has announced the 
appointment of a top executive in 
Europe at a time when the airline is 
experiencing “a banner trans-At- 
lantic summer season” and is mak- 
ing plans to expand its European 
operations next summer. 

The New York-based carrier 
named Frederick Reid managing 
director for France, Spain, Portu- 
gal and North Africa. Based in Par- 
is, he succeeded Annand And. who 
has become Pan Am’s regional 
m-m aging director for the south- 
east United States, based in Miami 

Mr. Reid turned over his duties 
as the airiine’s director for India, 
Bangladesh, Sri Lanka and Nepal 
to Randall Johnson, who formerly 
was based in Johannesburg as head 
of South African opertions. 

Earlier this year Pan Am an- 
nounced its intention to sell its Pa- 
cific routes to United Airlines. 
Thai move, and the airline's projec- 
tions that Americans will continue 
to travel to Europe in record num- 
bers while U5. travel by Europe- 
ans will blossom in 198b. has lead 
to Pan Am's emphasis on expand- 
ing its European operations. 

Pan Am. which reported a 19- 
percent increase in trans-Atlantic 
passenger traffic in June, said last 
week that during the 1986 peak 
summer season it will operate 199 
weekly nonstop flights between the 
United States ana Europe. That 
wiD be a 36-percent increase from 
the current peak season. 

Gulf international Bank of Bah- 
rain n arnw i Ghazi M. Abdul 


Jawad, formerly assistant general 
manager, to general manager. He 
succeeds Sultan N. al-Suwaydl 
who joined Abu Dhabi Commer- 
cial Bank. 

Ranh Johns Baer & Co_ Zurich, 
said Hardy BfcMi, head or its pre- 
cious metals department, is tearing 
the bank at year's end to establish 
his own consulting firm. Diego 
Rtuca will take on the responsibil- 
ity for trading in precious metals 
on Jon. 1. 

Tniyo Kobe Bank Ltd. has set up 
a subsidiary' in London that will 


serve as the rehide for its interna- 
tional capital markets activities. 
The unit, Taiyo Kobe Imcnution.il 
Ltd., is headed by Snoichi Misaki 
and Susumu Suzuki. 

Hewlett-Packard Co., a U.S. 
maker of electronic instruments 
and computers, has named John 
Golding U.S. sales manager for 
personal computers. Succeeding 
him in Geneva as European sales 
manager for PCs is Roland Fleish- 
man. Kalevi Puonu was named to 
succeed Mr. Golding as marketing, 
manager for personal computers in 
Europe. 


redin Miami Union Carbide Reorganisation Is Said 

rer his duties c 

To Indude Naming 2 'Co-Presidents 

who formerly The Associated Press 

sbwg as head DANBURY. Connecticut — Union Carbide Corp. will reorganize its 

rtions. t0 p management, creating two “co-p residents" for the giant chemicals 

Pan Am an- company, according to a published report Tuesday. 

to sell i is Pa- The reorganization was expected to include naming .Alec Flamtn. now 

ted Airlines, president and chief operating officer, to a new position of rice chairman, 

rime’s projec- the News-Tunes of Danbury reported. Replacing Mr. Flamtn and hecom- 

will continue m a co-presidents will be Robert D. Kennedy and Heinn F. Tomfohrde 

i record num- ibo newspaper reported. 

i by Europe- Mr. Kennedy will be a co- president with responsibility for the compa- 
i986. has lead ny"s industrial 'operations, while Mr. Tomfohrde will be a co-presidcm 
is on expand- with responsibility for tire chemical operations, the newspaper said, 
rations. The reorganization would follow steps taken last week by Carbide's 

sported a 19- board to amend corporate bylaws to make a hostile takeover more 
trans-Atlantic difficult and less lucrative for any potential buyer. The company's stock 
fune, said last price has been under pressure since the chemical leak last December at a 
re 1986 peak Union Carbide plant in Bhopal. India, that kilted about 2500 people. 
11 operate 199 Billions of dollars in lawsuits have been filed against the company 
ts betweenthe because of the disaster. 

Europe. That jp addition, the News-Times reported that Union Carbide is expected 
increase from (0 offer its employees an early- retirement program aimed at reducing its 
■on. worldwide employment levels about 1 5 percent. Carbide employs about 

of Bah- 2,900 people at its corporate headquarters, about 4S.400 in us domestic 
izi M. Abdul operations, and another 4t>,700 people worldwide. 


Slower Growth CUVEWCT MAKKET, 

Seen for ILK. Dollar EnfbLmcerm Net* York Trading 

Reuters 


THE EUROMARKETS 

Eurobond Market Quiet in Advance of U.S. Refinancing 


Reuters 

LONDON — ■ The Eurobond 
5 market ended little changed Tues- 
1 day from opening levels, although 
1 the Japanese convertible sector fin- 
khwt sharply lower, dealers said. 

The dollar and floating-rate note 
sectors were nervously awaiting 
Wednesday's U5. Treasury quar- 
terly refunding announcement, 

I Earnings 

rmoiw and profits. <n mMlom,are ht 
local currencies unless otherwise 
tnctlcalwcL 

I Britain 

' Non Westminster 


ItfHdl 
Pretax Nat _ 
Par stare _ 

Canada 


!■**« 

Rawenm_ 

1 QperNet 

Oper Shm- 


ins 19*4 

3M 3&D 

(US Ml 


soutfnm 


Full Bonk 

y IMS 

rSm «£*- 

Pn-Stare . 2737 


, Mem SeiKi Kaistw 


Revenue— 
ProBfc, — 
Per Stare. 


Revenue _ 

ProlH 

Per Stare. 
r: trillion. 


Revenue- 

Profit 

Per Stare. 


ISM 1 9*3 

336*. 310.100. 

M00- 4J10- 

TK 14J5 


Nippon Steel 


Nippon Yusen 


dealers said. Most operators expect 
the size or the refunding to total 
about $22 taUicm. but some traders 
forecast it would be as much as $23 
billion. 

“Nobody wants to open op any 
positions ahead of the announce- 
ment,” one trader said. 

The dealers noted that Japanese 
convertibles dropped sharply after 

Eliminating 
The Losers 

(Continued from Page 91 
Centre d*Enseignemeni et de Re- 
cherche pour Cadres d’En [reprise 
at Jouy-en-Josasse. near Paris. 

Most experts in negotiation 
training reiy on role-playing to 
teach negotiating skills. They simu- 
late a situation, either a contract 
negotiation or a pay-increase nego- 
- nation, and the individual manag e r 
has to figure out how to negotiate ; 

to get the most out of the situation. | 

Since April, a computerized sim- 
ulated negotiation is now available 
in the United States for $495 — the 
Art of Negotiating computer pro- 
gram. written by Roy Nierenberg, ; 
president of Experience in Soft- 
ware lnc. of Berkeley, California. 
The program' is based on the model 
developed by his father, Gerald, 

and can be used on an IBM person- 
al computer and an Apple UL 


a plunge in share prices in Tokyo 
ovemight- 

In Frankfurt, meanwhile, a 
Bundesbank official said that 
hanks plan eight Demscbc-mark 
Eurobond issues in August, for a 
total volume of 1505 bdjion DM. 

Seven straight-bond issues are 
planned, totaling 1 billion DM, and 
one floating-rate-note issue is 
planned, totaling 500 million DM. 

Among other developments 
Tuesday m the Euromarkets. 

***** 

Kobe Steel Ltd. issued $50 mil- 
lion of IfHfc-percent, five-year Eu- 
robonds, the lead manager. Chase 
Manhattan Ltd, said. 

The noncallable bonds are 
priced at par and are guaranteed by 
Dai-Lchi fcangyo Bank Ltd. 

Fees total 1 * percent, with a 116- 
percent selling concession and 


(VMTihlnftri management and under- 
writing fees of tt percent, including 
a 14-percent bonus. The bands are 
available in denominations of 
$5,000 and will be listed in Luxem- 
bourg. Tbe pay date is Sept. 9. 

Nomura International Ltd. is co- 
lead manager. 

Grand Metropofitan FLCs mul- 
tiple facility has been increased to 
$300 million from $200 ntilBon, 
while a committed backstop re- 
volving credit was raised to $150 
million, from $100 mil lion. .Citi- 
corp Investment Bank Ltd. said as 
one of the lead managers. 

The increase was possible be- 
cause of the strong response from 
the banks, Citicorp said, noting 
that 17 banks had joined the facili- 
ty- 


Reuters 

LONDON — The Confedera- 
tion of British Industry said Tues- 
day that its latest quarterly survey 
of manu facturing oompames sug- 
gests that economic growth in Brit- 
ain may be moderating 

“Business is now revising its 
forecast of growth downwards, 
faced with continued high intere st 
rates and tbe consequent apprecia- 
tion of the pound,” said David 
Wigglesworth, chairman of the 
Cms economic situation commit- 
tee. 

“Prospects for the next few 
months are less buoyant than 
shown in our last few surveys." Mr. 
Wigglesworth said. “The propor- 
tion of companies expecting output 
to rise is down compared with tbe 
last two surveys, as is the expected 
rise in new orders. Much of the 
worsening of prospects can be at- 
tributed to overseas sales.” 


Complied by Our Sic# From Dispatches 

NEW YORK — The dollar 
turned sharply lower in New York 
Tuesday in dun trading marked by 
position-squaring ahead of a major 
US. Treasury refinancing Wednes- 
day and tire release of the Index of 
t Hading Indicators for June. 

Earlier, the currency closed ou a 
firmer note in European trading. 

Dealers noted that the dollar 
changed course several times 
throughout the U.S. session, swing- 
ing between IL8Q70 and 2.8360 
Deutsche marks before dosing at 
2.8140, down shaipty from Mon- 
day's dose of 2.8430. Trading was 
busy and erratic. 

Dealers said the catalyst for the 
morning selling was a widening in 
the US. trade deficit in June to 
$13.42 billion from S1267 billion 
in May followed by a surprising dip 
in new UJ5. borne sales and a 


downward revision to tbe May 
sales rise. 

Dealers said the dollar was also 
depressed by a deadlock in Wash- 
ington on ways to reduce the feder- 
al budget defied L 

Tbe drop in the dollar gathered 
pac e as the International Monetary 
Market stepped up foreign-cur- 
rency purchases, while the lows of 
tbe day were plumbed in response 
to news that mu had dosed tbe 
nation's banks for two days, they 
said. 

Against the British pound, tbe 
dollar slipped to $1.4230 from 
$1.4225. Other late New York 
rates, compared with Monday, in- 
cluded: 8.5700 French francs, 
down from 8.6375; 2J980 Swiss 
francs, down from 23100; 1,891.00 
Italian lire, down from t, 905.00, 
and 57.05 Belgian francs, down 
from 57.22. 


The dollar fell to 237.20 Japa- 
nese yen from 237.80 on Mondav 
In earlier trading in Europe, the 
dollar ended firmer after swinging 
widely in thin trading exaggerated 
by several large buv and sell orders. 

In Frankfurt, the UJS. currency 
slipped to below 2.S200 Deutsche 
marks before recovering to 2.8353 
DM at tire afternoon fix, up from 
28304 on Friday. (Rouen. IHTf 


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: (r Ifhdrikfa 

* House of Beef 

I llu « l*»«l«« *> 

\___OUR Vnh YfcAR — 


evternational^ 
business omirriJNrnES 

=— A BRITISH COMPANY a 

has produced a unique ' | 

coin-operated product | 

(not amuiWtan. mochma) which hos taken USA^ W by 

invest to oil segments of the population - adults. *^"**^*™* J 

Returns Save proven excetant and llwi “ t 

the {pound floor and reran* a full retwn of nweSed cnpld >n under 12 months. | 

Interested applicants should reply in English la I 

EJ. rZxdll COMPUTAWBGHHS Ud. 

Cotton Houm 1 1 MartboroopS Ploc» 

■riahtan Ectal Swbmk _ _ 

Toll (2731 *72226 - Tlx. 8782*8 MNBBG O | 


Opening for ' Talkh 
. b Seen in Mwcow 

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Itcralb^gEribunc 

r Talkh ^ Leaders Vow to Push 

Economic necoxer y 


la TbvwT 





EGYPTAIR 


Sumitomo Metal 


Per Sharp. _ 

a: tea. T: trillion. 

i Switzerland 


lUted Slates 

Asareo 

2nd Qaar. IMS 1M4 

Revenue 3D&9 357J 

Net Loss 20.9* - 3U1 

iriHdf IMS 19*4 

Revenue. Sto 7SU 

Net Lon 40JM 59.73 

MW now nel Includes choree of S3B mHIton. 


Net income. 4751 . 513 

Per Stare 0.91 Q.H 

TUHdl IMS I9M 

Revenue 2270. 230. 

Nat Income . B239 HlB 

Pw Shore IJB US 

Mi result* restated toe J.Jar-7 split la Jum. 


wishes to lease 

A/C BOEING 747/200 or BOEING 747 SP 

For operating Cairo/New York and area routes 

According to the following conditions: 

% fe^SaSfo^TeiTba.is without crow or -bio attendant 
i] of three hundred hours monthly guananted 

1} oUeTSvering Hull insurance, checks andTlme maintenance. 
Offers to be submitted within ten days to: Mr. tuL DALY 
JJ SITA address: PAKDMMS 

EGYPTAIR, 1 BIS RUE AUBER, 7S009 PARIS. 


^w| H^ 1 


Jit*,! 


UOw. 

Rwtoue 

Net Income. 
Per Stare ™ 


Nel Incnme. 
Per Stare — 


Net Income. 
P»r Stare — 


US. Steel 


Met Ineom 
Per Shore. 


1J3 

Warner-Lambert 




Zed Osar. 
Revenue— 
►Mi income. 
Per snore _ 

lsHdf 

Shoiuc 

Met income. 
Per Stare — 



2nd Quor, 198S 19M 

Revenue. — 2.131 ifln. 

Oner He* 11 BJ Kfl 

Doer Stare V!l 0J» 

trilUf IMS » « 

Baiun i IHfl 40Zk 

mo mo 

oSaSf. MV ^ VB 

Nets exclude «Aw of SIM Mr « • 
cmttwln qvQfivr ondofiJM vsnlltn haft. 


I€ -Duty Free Shop* 
Airport Frankfurt/llahvOemiany 

Specials In Ally '85 
WHGKY WW«e Horse 1.00 Ltr. 

onh approx S 4.00 

WHISKEY Jhn Bam l no Ur. 
eSwSctartKhtMB Metaleibrwia 

ISinaTOia. 

Echto Krotrbmm 
0.70 L». only appnft S*.- _ . _ , 

VERMOUTH Usrttm Btanco/Ertra Or// 
doBSo/ftos* 1 ,00 Ur. 

ontyaoproxSZ- 
S£KT Henkel TitwkenO.75 Ur. 
only approx S Z- 

Intsmational Departure A/upsteHB 

... afl you need a Duty Free- 


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92521 NeuiyCedex, France. Tdj 747 07 29. Telex: 612832. 

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43to 
W. 
MU 

V* 112^ 

x m 

T 


164* Fobind M XI 7 
114 PeirmC 
314 FMatO 

11 FWrmB M 81 12 
an* Psteron A 21 I 
Aik ntcGE 5 

234* FIIGE pf 4X0 to 
7to PtanEn 

251* FtaRck JO 1.7 I 
22to Flute 1 J8» S4 11 
6Vi Foodrm A 

S*h FtMIIG Iff 

74U FardCn tf 4_00c 
15V* ForstCA .15 X fA 
15 ForstCB Off A to 
121* Forest L. 36 

14 Fatoml 

30V* Frantz XO 29 11 
4'A Frmiv 250 

14 FreaEI Iff 

7M Frledm JSb 24 12 
5 FrlesEn 
* FrntHa 44 

4to FrtAwt .177 27 
5H FurVUs 20 


a iff 
12 2 )* 
Iff? 4to 
28 UA 
9 23to 
130 TO* 
1 28 
28 >U 
a 42 

75 2SU 

is m 

284 618 

SD0Z106 

13 24 

1 231* 
129 27 
150 life 
16 33 
SB 7* 
45 248* 

2 8V* 
184 10?* 
319 15V* 

T 81* 
98 73* 


IS* )8to — V* 
2M 2M— A 
4to 41* 

13V* 131* + V* 
23 Vj 23V*— V* 
io iou + to 
28 28 
ato r a + v* 

4114 42 
Wto 251* — V* 
1214 171* + A 
AH 8H + A 
10* 106 + A 

23V* 24 + V* 

231* 23X* + A 
26 A 2Mb— 1* 
19* HA 
341* 341* + V* 
8% TV* + «* 
24H UH- H 
IH 81* 
t(K*j 10V*— V* 
1516 15*4— Vi 
AH 6H 
9Va 9%— Vk 


• A 

S5V* 151* 
7H 2 U I 
4 2to l 
17H AH , 
A 41* I 
2H 1^. 
2U IA 1 
40A 25?t I 
13A AM I 
22V* 11 I 
214 1H I 
3H 21* I 
12V* AH 1 
169* IT A 1 
414 7U I 
in H i 
17A 64* l 

1IH 8H I 
4V. \V» 1 

9 6 I 

10U A I 
10* A I 
2214 12U | 
41 T9H V 
4V4 214 I 


11 27 Ato 

10 28* 49 * 

300 28 3H 

JBr 1.9 5 2H 

35 SA loto 

.12 24 24 8 5 

.IT* 44 58 7* 

31 ft 

i 140 144 3A>* 

12 24 ll*i 

JO 1J 81 11 20U 

• 217 lto 

J5T10J IS « 

M> 25 12 

.12 A 30 It 

179* 3$ 

344 U 
M 47 71* 

92e ffJ AO 5 174 

• 39* 

194 Ato 
29 2« AH 

58 AU 

13 182 2BV: 

at e « 

98 24 28 33 39* 


13 

26 

40 24 a 


AH AH— to 

47 48 —1 

3 3 — to 

2H 2to 
1SH 15V* — to 
5 5 

2to 3to + to 
lto lto 
3*9* 36": 

119* I1H— to 
20V. 20 to — to 
lto Ito 
2H 7* 

1194 R + U, 
15V* 15to— •» 
3 to JV: + V* 
H + i- 
7 7 — >4 

101* 10-4 
3H 3H— Vj 
Ato ft 
Ato AH— V* 
Ato AH 
20 to 20 V» 

^ 3 '., ‘jto— to 


I 4to - as- 33' S' 
7'l TEC 16 15 
> Ato TIE 

A'* Tli 

1J i TabPrt .X t.l 
*'• TandBr 
3'V 70S'* *5 13 

1 lto Tcom 
1’* TcJiAm 
t4 Tent, pi 
3l‘» tjchcp 
I 3*« TccnTp 

8 'ecntrt 30 2 3 

1 T«CJ»kI 

2 icteestv 

21'S Trifle. 44 U 
9'- Tr'D*C 360 :: 

AU Teise: 

3'. TeiKon 
J'» Tennr. 

41* Te.air 
4H TriAE JW 7J 
i»»* 7r«*E mjj7 ij » 
3'-: T»*c3n 
l‘» Tnargr 
Jto ThrOA .10 11 
I T ig-rc'l 
24to TolEOe' 4J5 1U 
45': ToiECPi '.to IC5 
STs TeisaeiioJO H5 
4to Tonal 39t 8J 
T I Ton P'B J4 
•* ToIPl Ml 

22 TotPlof 248 1C. 9 
5H T rr.se < 05r J 

llto TnijTe; M O 

7to TriSJV. AZt iff 

Ato TrioCp 6«l 5.9 

3to TrlHmr 
Jto Tntfe. 

2'.* TubMot 

21’* TumrC 1J0 O 
ffto TrnEon 

lto Tvlr wi « 


Sto Sto 
1C 1 - I5U 

I ' .8'- , 

1- 9U 
IJ' J S«- 

14' * M. * * 

n. m. 

i« " - v, 

r :r ; ‘ 

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lto Ht 


2257 it, 
43 S'. 

I" !«’■ 
KK lto 
28 2* 
SC 4to 
SA5 3 
?3Cs 34-.-J 
}OC: 62 
l«: 7»to 
32 41. 

137! 14 - 


14-i— 
1'*— : 
— to 
I Jto 
1 4 to — ■ 
ID'. + to 
'lto * to 
<to + • 


IH DWG .131 AJ 5 77 2 IH 2 


4 V* 21* 
15V. 10V. 

3 19* 

W* 7H 
131* 9to 
4H 2H 
UH 12H 

5 2to 
AH 21* 

189* TV* 
M 7V. 
129* 814 

S lav* 
UH 


GalxvO 50 

GotLII 

GetmS n 

&«mco 

GOefns 48 SJ 9 
Go Emu JO 55 13 
Genfsco 

GenvDr JO 14 14 
GooRes 5 

G*oR3Df 140 84 
Getty t .16 J 

GlonF s JO 24 


I 214 216 
29 12H 12H 
40 2 IH 
4A *Vi 9H 
IA 1291 124* 
4 M W 
MS 17 I AH 

1 » » 
251 414 49* 

S3 12V* 12 
27 1Mb 13H 
35 12 1IH 
<7 24 2314 

1M 20U 20H 


294— Vk 
12U + M 
2 

TV* + H 
ITU + to 
314 
17 
31* 

HAH 
12V* + V* 
13M— H 
UH— V* 
2M 


T794 12U Jochm jgb 34 f 

714 5H Jacobs 

5V* TU Jet Am 8 

2 V* JelAwr 

9H 4V* Jetren Jit U ia 

6¥i 27* JohrrPd 

11H 716 JahOAm JO HI] 

UH 41* Jetinlna 3 

7*. IVs JrapJkn 4 

36 23V. Juptter Iff 


H 141* IH MW -V V* 

99 AH AH AH + l. 

28 Jto 3H 3»4 + '* 

M H H H 

1 8V* 8W BW 

41 3U 3H 39. 

40 91* 994 9U— lj 

68 7U 71* 79* — H 

II 31* 39* IT* + S* 

» 35U 3594 3513 


US. Futures 


Season Season 
High Law 


Open hw Law 



Grains 


WHEAT (CHT) 

5xm bo mlnlmum*dallar* per biahel 
17AV* 292V* Sep 2ff7V* 199 

343ft 3.01ft Otoe 104ft 3X6 

174ft 3X1 Mar 2JM 3X5 

4X2 2.91 V. May 194 IMU 

172ft 133 Jul 273V. 234 

345 177 Sep 175to 174 

Est. Salas Frev. Sales 8461 

P rev. Dar Open int 37J21 oft42 
CORN (CBTI 

5X00 bu rninlmum- dollars per bushel 
111ft 231 Sep ISffto 239U 

IffS 231% Dee 2_Wto 131 to 

3-10 139% Mar 2J0U 239ft 

31 IV, 2.43% MOV 243 243ft 

286 244 Jul 243 243ft 

186ft 130ft Sep 233% 233ft 

2J84i 220% Dec 225 124ft 


194 195ft -41% 

3X1 ft 3X754 —ill Vi 
3X1 3X114 — XI ft 

290 2*1% — X2 

23014 2J0U — JOft 
174 174 — ,0194 


2XAft 230ft Sep 233% 233ft 

2J8U 220% Dec 225 226ft 

EsL Sales P rev. Sales 22950 

Prev.DavOpcfilnt.ilAjm off 137 
SOYBEANS (CBTI 
5X00 bu mini mum- dollars per bushel 
756 530 Aug 519 533 

AJ1 516% Sep 515 51TV. 

6X8 518% NOV SJBft 532 

AJV SJBft Jan SJ7ft 541 

7X2 5.49 Mar 547ft 551 

7.79 537 Mar 535 3J9 

638 £60 Jul 538ft 560ft 

6J4 555Vi Aug 554 £54 

618 £44 Sep 545 £45 

632 537 Now £38 £28 

£sL Sales Prev. Sales 34X16 

Prev. Day Open lot. 61774 up 1333 
SOYBEAN MEAL LCBT) 

100 ions- dollar* per Ion 
180X0 TlffXO Aug TlffJO 120X0 

17930 12250 Sen 12240 T23JQ 

18030 124X0 Od 12330 12530 

184X0 12830 Dec 128.10 129X0 

161X0 13030 Jan 130X0 13130 

20630 134X0 Mar 13330 13430 

16230 138X0 MOV 137X0 138X0 

IA7X0 142X0 JUl 141J0 141 JO 

Est. Sale* Prev. Saha 22z» 

Prev. Day Open I nt. 41X37 ofll J76 
SOYBEAN OIL (CBTI 
60X00 lbs- ctoilar* per 100 lb*. 


234ft 215 — X5% 

228ft 2JBU — X3 
236ft 217 — X2ft 

240ft 240% — JX3% 
240% 340% — X3ft 
210ft 2X0% — X2% 
224ft 224% — X0% 


PORK BELLIES (CME) 

38X00 lba.-cents per rb. 

8035 50X0 Aug 5290 -5225 5060 

7620 5915 Pet) 5925 6060 58X5 

7540 59X5 Mar 5930 60X0 5860 

7560 6040 MOV 6060 6020 5920 

76X0 60X0 Jul 6030 6030 6030 

73.15 60X0 AUB 59X0 5960 SffXO 

est. Sole* *487 Prev. Sates £392 
Prev. Dav Open Int. 9289 off 131 


COFFEE C (NY CSCE) 

37300 lbs.- cents Per 1b. 

15020 127X0 SAP 1J425 13105 132SD 

15040 12925 Dec 13720 13715 135-10 

14925 12830 Mar 138X0 138.10 13650 

14880 131X0 May 138.10 138.10 13720 

148X0 13530 Jul 139X0 139X0 138X0 

14730 13225 S«P 139X0 139XO 139X0 

138X0 138X0 DOC 

ESI. Sales Prev. Solas 887 

Prev. Dav Open Int. 11X19 up 7* 
SUGARWORLD II (NYCSCB) 

112000 lbs.- cents per lb. 

925 264 Sen 4.19 432 4.13 

9X5 224 Od 438 430 425 

725 3X0 Jon 4*1 420 447 

9X3 334 Mar 4XA 5X1 483 

7.15 338 May 5X3 5.17 5X0 

669 329 Jul 525 5X8 £20 

5X0 4X2 Od 531 561 545 


5020 —1.90 

6040 +1X0 

59.90 +XI 
60X5 +X5 

6120 +1X0 
59X0 —.10 



4to 

T’/« kopokC 



* 

2# 

4 

JH 

4 + ft 

16% 

10 ka/Co 

JO 

LS 

8 

2D 

13% 

13% 

t Jto — ft 

13 

10H KayJn 

.106 

X 

11 

27 

13 

12% 

13 

W* 

9% Keca-Nt 

JC 

13 

IT 

39 

15% 

15 

IS 

9V* 

5% KeyCo 

JOe 14 


18 

9H 

81* 

B%— ft 

17% 

8 KevPti 

JO 

1 J 19 

832 

12V. 

11% 

1IH— H 

a 

4ft KeyCa 



7 

73 

5 

4H 

4% — ft 

4% 

2% Kkttewr 




23 

4% 

4ft 

4ft— ft 

5% 

3ft Ktnark 




51 

4V. 

«% 

4% 

5ft 

7ft KJrbv 




27 

3ft 

3 

3ft 

5% 

3H KJtMfB 



15 

1 

4% 

4% 

4% + ft 

3H 

2 KleerV 

SXtt 

J 


3*6 

2-* 

2H 

2to + to 

16 

9H Knoao 



16 

35 

15V* 

14ft 

1SV* + V* 

16% 

10% Knoll 



16 

36 

16ft 

15% 

15% — % 

301* 

21% Kogerc 

2J2 

BJ 

10 

88 

28ft 

28 

28 — % 



IH IV* 
3U JU 
7H Jto 
178* n 
i4% n* 

13 8% 
27% 21ft 

9H 2ft 
an* i«H 
AH 3% 
•ft 5 
XV, 7ft 

Jto 2ft 
3ft lto 
39H 3AH 

14 ft 10% 
leu 6% 
16 9ft 
MH 10 
toft UU 
10ft 8U 


LSB 

La Barg 

LaPilt 6 

Lndmk 60 23 II 
Laser 44 

Laurm 22 

LearPP 3X0 111 
LeePti 15 

LenWii* .in J io 
LefturT 5 

Levitt io 

LbfFPh 40 U 11 
UHRst 
Lltfld 


It IH tta tft 

7 2ft 2ft 2ft 

3 4ft «H 49* — % 

32 11% IS IS + ft 10% 3ft Quebgs 
M 118* 11H lift 1 

1 ffft ffft *Vi 
52 22% Tito 21to — V* 

107 AH AH Ato 

4 2S% 2Bto 28% 

f 5% 5% 5% 

5 7ft 7ft 7ft + % 

41 X 29% 29ft— ft 
X 1% lto 1% 

A 2H 2to 2H + ft 
» 2 IH 2 * ■* 

144 37ft 37V* 37%— % 

107 ISto 15 15% + H 

U» 13H T3H OH + ft 
542 11% 11 lift + ft 
A9 14 137* 14 + % 

446 14% M 14 — % 

1 BH Me «»— ft 


IQft AtoVSTn JCc 10 121 13't 1C 

18% 11% vailvRs 143 7.9 II i ir-. i r>. 

27H ITto Valsors 44 1.7 15 9 2Ato 

10 2V. vent 349 9% o 

23to 15ft vtAmC 40b i4 9 5 1*% 

AH Jto VIRsn 3 6% 4ft 

14ft 9% Vemlt a 1.9 12 21 IF* 10 : 

10H 4% Vic rren 1 S'* 8*3 

9 5ft vieon 9 a 6to i t 

9% 6Va Vlsuclv X0 33 10 7 8ft S': 

Rft 8 VoPle^ 43 3 7 13 14 10% 10% 


80 97* 9% 9% 


5.17 5X0 

5X8 £20 


SJ 2ft £23 — X7% 

£19 £19% — X6 

522 523 — XTft 

5X1 5XZft —27% 
541 £41% — 28 

547 547% — v10% 

530% £50% —.10% 
£44 £44 —.lift 

5X8 540 —X* 

523ft £35 —JO 


11830 —2X0 
12 ia — 1 X 0 
1 ZJJ 0 — 1.10 
12740 —1X0 
12940 —1X0 
13260 —130 
136X0 -2X0 
140X0 —238 


31X5 2260 

31.1® 2260 

30X7 22.00 

2965 22.90 

29.07 2360 

2860 24X0 

2745 22X0 

25J5 23.90 

25.15 23X0 

24X5 23X0 

Est. Sales 


2330 Aim 2542 2565 
2260 5*P 24XB 2£25 

22.90 Oct 2460 24X5 

22.90 DOC 24X5 2460 

2360 Jan 24.20 24X3 

24X0 Mar 24X0 2420 

22X0 May 34.10 14.10 

23.90 jul 24X0 24X5 
23X0 AUB 21X5 23X5 

9790 Sep 

Prev, Sales 13472 


25.13 —44 

2L71 -JO 
2L50 —32 

24X8 —.14 

34X0 —.12 

24X5 —.10 

24X5 — X5 

2335 — X5 


Prev.Oav Open Ini. SLAM off 141 


OATS(CBT) 

5X00 bu minimum- dollars per biahel 
1X9 IJ9 Sen IXSft IJ8to 

132V* 1X3% Dec 1X3 1X3% 

167% 1X6% Mar 1X6 1X6 

163 IJ7V* May 1X6% 1X6 ft 

Est. Sales Prev. Sales 384 

prev. Dav Onen Ini. 3X99 up 38 


IXSft 1XA —JO 
IJOft 1X1 — X2% 

1X4 1.33ft -JO 

1 34ft 1X4% — X3% 


Industrials 


I Livestock 

CATTLE (CME) 

40X00 Kml- cental per lb. 

*767 50X2 Aua 51 JO 51X5 

65.90 53X5 Od 54X0 5465 

6765 55.15 D#C 55X0 56.10 

67.45 56X0 Feb 5660 57X0 

6737 57X7 Apr 58X0 5860 

66X5 58X5 Jun W.30 3*X0 

6£40 64X0 AUB 58X0 58X0 

Elf. Sales 20X95 Pray. Sales 2 3 .506 
Prev. Day Open Int. 48648 up 10 
FEEDER CATTLE (CME) 

44X00 lbs.- cents per lb. 

73X0 SBJ0 AUB 5865 5965 

73.00 5765 Sea 58.15 59X0 

72X2 57.85 Od 58X5 5860 

73X0 58-90 NOV 59.10 5960 

79*0 61X5 Jan 61.90 61X0 

70-55 6165 HOT 61X0 6235 

7065 61-00 APT 62J0 6240 

65X0 62X0 MOV A165 6165 

Ed. Sales 3625 Prev.Sales 3X91 
Prev.DayOpenlnL 9641 up 185 
HOGS (CME) 

30X00 lbs.- cents ner lb, 

5437 4260 AlfB 4260 4300 

51X5 38.15 Od 38JO 38X5 

5065 39-70 Dec 40X0 4035 

50X7 40X7 Fob 41X3 4163 

J7X5 3865 APT 3960 3«62 

49X5 41.90 Jun 4115 4220 

4965 4260 Jul 42X0 4150 

51.90 *2-05 PAM 

Od 4160 41X0 

Est. Soles 5600 Prev.5afes 6629 
Prev. Dav Open Int. 18615 oft 211 


51X6 5167 +60 

53-75 5462 +65 

55X0 56X5 +65 

56X0 56X0 +X5 

57X0 57.80 — l07 

2$ 8 +JB 


5860 5960 +1X5 

5765 58.90 +.90 

57.15 58JS +68 

58X0 59X5 +60 

6060 61X0 +.15 

*1.10 HM +.12 

61.15 61X5 — X5 

<1X0 67X0 — X5 


41X7 4267 — XS 

3L0S 3865 +X5 

3960 40X0 +65 

40X0 4160 +60 

3860 3960 +XB 
4160 4107 — X3 

42X0 4145 +X5 

«lffi —31 
41X0 40X0 


To Our Readers 

Certain statistical data is 
missing from this edition be* 
cause of technical problems. 
We regret the inconvenience to 


5X0 4X2 Od £51 561 565 £54 +.15 * 

EaLSoles Prev. Sales 27J81 

Prev. Day Open inL 90.978 up 935 
COCOA (NYCSCB) 

10 metric t ans- 5 per ton 

2415 1963 Sep 2085 2110 2077 2092 +« 

3 7 1945 Dec 2122 2150 2110 7125 +5 

T 1955 Mar 2148 2170 2140 2150 +5 

ZZI7 1960 May 21 AS 2175 2160 2160 —5 

2180 1940 Jul 2180 —3 

2330 2023 Sep 2191 —3 

2235 2055 Dec 2218 —3 

Ed. Sales Prev.Sales 3652 

Prev. Day Open Int. 20X71 off 362 
ORANGE JUICE CWYCE) 

1 5X00 Ibv- cents per in. 

182X0 131.10 Sep 131X5 U2XS 131X5 131X5 +X0 

181X0 127X5 Nov 128X5 129X0 T28X0 128X0 +X0 

180X0 125.10 Jan 124,50 125JH 1X415 124.15 —.75 

17750 12480 Mar 12470 125X5 124X5 124X5 -J75 

ltXSO 13150 MOV 12*X0 —60 

157 JO 142XO Jul 13400 —JO 

Est. Sales 350 Prrv. Safes 522 

Prev. Day Open im. <J93 off 48 


Metals 


COPPER (COMEX) 

25X00 lbs.- cents per lb. 

62.15 5865 Aua 6060 —1.15 

82.10 57 JO Sep 6260 A2JO *1.15 41X5 —LI 5 

8425 5850 DOC A3J0 *£50 A2J0 A2XS —1.15 

84X0 5960 Jen 6260 —1.15 

80X0 5960 Mar *4X5 <4X5 63.10 *115 —1.10 

74X0 41.70 May <4.15 6450 4350 43J5 —1.10 

70X0 62X0 Sep 64X0 64X0 6490 6430 —1.10 

70X0 43X5 Dec <565 AS65 <S50 <485 —1.10 

70X0 6£» Jem A5JX) —1.10 

57X0 A£G Mar 65X5 —1.10 

_ 67.30 67X0 NVJV 65X0 —1.10 

Est-Sdes Prev. Sales 7652 

Prev. Dav Open I nl. 79X88 off L0*9 
ALUMINUM (COMNX) 

40X00 lbs.- cents per Rx. 

AUB 4465 — .15 

74X0 <3X0 Sep 45X0 46X0 44X0 44X5 —.15 

7060 4490 Dec 46.15 46X5 45X5 45.95 —.15 

76JO 51X5 Jan 46X0 —.15 

TIM 46X5 Mar 47J5 *7X5 47X0 46X5 —.15 

*6X5 53X5 May 4765 —.15 

52.10 51X0 Sep 49X5 —.15 

UPC 5D.10 —.15 

Jan 50.45 —.15 

Mar 51.15 —.15 

MOV 51X5 — .15 

Est. Safes 280 Prev.Sales W9 

Prev. Day Open im. 1J42 up 28 
Est. Sales 280 Prev.Sales 169 

Prev, Day Open Int. 1J42 up 28 
SILVER (COMEX) 

£000 troy OL- cent* per trovaz. 

6400 *03X Aup 630L0 A30X 6800 6266 +.1 

IlgJ) 573X Sep' 6340 AT7X 627X 631 J +J 

1230X 590X Dec A4SJ 650X A40X A44J +6 

12110 5950 Jan 653X *540 44SX 649X +6 

11930 607X Mar MIX MIX 65£0 658.1 +6 

llWX 6210 May 6680 668X 6660 647J +6 

940X 6410 5ep M4J 694J 6«4J A88J +J 

799X 4600 Dec 7H0J 709 X 7TKL5 7B45 +6 

789X 678X Jan 7KL5 +X 

770X 677.0 Mar 729X 729X 72SX 722X +JX 

7210 A93X May 7346 +1J 

Esi. Sates Prev.Sales 34969 

Prev. Day Open inf. 73J47 up1J86 
PLATINUM (KYME) 

50trav «K.-doi tors per tray os. 

276X0 27SX0 Aus 280X0 380X0 2KL0B 288JD 

393X0 250X0 Od 282X0 2B4J0 279X0 282X0 +60 

373X0 257X0 Jon 288X0 2BJJ0 384X0 2&6XD +A0 

E9J0 26450 APT 29400 29400 290X0 291X0 +60 

302X0 273X0 Jul 297X0 

, , „->4ll 298J0 29E50 296X0 297X0 +60 

Esi. Sales Prev.Sales 3X48 

Prev. Day Open Ini. 12X98 up 438 
PALLADIUM CKYME1 
100 troy az- dollars per 02 

141X5 90J0 Sep 98X0 99X0 96X5 9860 +1X5 

141J0 91X0 Dec 9108 99 JO 97.05 98XS +1X5 

' 27 JO 91X0 Mar 9800 99X0 97X5 99X5 +1X5 

114X0 9150 JU« 9960 +1X5 

Sea 97X3 

Ed.Sofe* Prev.Sales 768 

Prev. Dav Open ini. LSB0 up 15 
GOLD (COM BX) 

TOlwit- M iw p a Hwet 

4»J» 291X0 Aua 33420 33 MO 822X0 334X0 —JO 

320X0 31550 Sep 325X0 — XO 

493X0 297X0 Od 32850 330.10 326X0 TT7M —30 

48950 J0L50 Dec TPM 33450 33050 332X0 —30 

485J0 306X0 Fffft 337X0 338X0 336X9 336.40 —JO 

496X0 31470 Apr 342X0 342X0 34064) 340X0 — JO I Ed. Sales Prev.Sales I £229 

O5X0 32060 Jun 345X0 346J0 34£M 345X0 —JO [ Prev. Day Open Int 53X92 up 231 

*2840 331X0 Aub 351X0 35ZJ0 34950 350X0 —J(l 

393X0 33SX0 Od 356.10 —JO 

393X0 3*2X0 Dec 36160 -Jo 

37200 355X0 Apr 374X0 374X0 374X0 373.10 —JO 

Est Sates 35X00 Prev.Sales 71618 
Prev. Day Open rm.i30.lAT off 1X74 



, Walbar 40 15 15 

1 ft mco xt i.« 9 

ftonaB le .9 in 

. War+jC 71 6 in 

, ftr-iC n! 

1 «S)*% 1 » 

: ftrflPbt .JA Oft 
. V/PI*S ».»7 iC *0 
I ftarsc a 33 7 Z 5 
, Watsc E .16 14 t 
I VWfit-d 

: ftcooun 
I ftebecr 
: fteoco 

> Weaic n ore .1 10 
I VVdman .14 S 4 7 

, ftddwn 1 2 

: Wei lea 
I WciGra 

WC5C3 6? 2 1 • 

, WKOCP 

, WTe» ef 4.40 126 
! UTBtRrC 10 

1 W-lbro 33 II 
1 WDlq.il fl 

WIN - r 18 

, WtR£' 154 7* It. 

1 WitSL 5 4 

1 WhEnt s 23 

wlcnila 
ftic»e? 

Wlckes rrt 
1 WlCV^pfiM EJ 
1 WILC-G J 

Win! In 2X4 I? 7 
V-ftllrm «l 10 

V/kWear 57 30 T 

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Sterling per metric ton 
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forward 732X0 733X0 726X0 72*50 

COPPER CATHODES (Hied Grade! 

Starting par metric tea 
spat 1X80X0 1X82X0 1X84X0 1X8£00 

forward 1046X0 1X4850 1XSSS) 1X5600 

COWER CATHODES (Standwd) 

Sferfleg per metric ton 
pet 1X13X0 1X14X0 1X1DX0 1X1400 

forward 1X24X0 UQSXO 1X30X0 1X3400 

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Prtntclotb 6V30 38 ft. VD . 

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Iron 2 Fdry. PhJio. fan 
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Lead spot, lb 

Cooper 4 led. 10 

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Zinc. E. St. l. Basis, lb 

PalVoWum-Oi - 

Silver N.Y. oz 

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Sforflns per metric fen 

8P0t 9X80X0 9X90X0 9X70X0 9X60X0 

forward 9X60X0 9X61X0 9X55X0 9X*0X0 

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spot 514X0 515X0 531X0 523X0 

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Si million- Pti at 100 neL 
9133 86X4 5ep 92X7 9174 

WX7 BSJ7 Dec 0132 9138 

32 8660 Mar 91.96 ffl.99 

9128 87X1 Jun 91J8 9158 

9101 88X9 BOP 9132 91J2 

91 -2 89X5 -Dec 90X7 9097 

9149 89 JB Mar 

90.93 9(193 Jun 

Est. Safes 12X25 Prev.Sales <M 
Prev. Day Open ini. 37X0* up 718 
WVR. TREASURY fCBTl 

simomprin- pfs b 32nd* of 100 pet 

ffl-21 75-18 Sop 83-2* 84-11 

f/-U 75-13 Dec 8W 834 

86-2 75-14 Mar si-31 82-11 

857 7*-M Jun 81-12 81-16 

84-4 81-8 Sen 80-21 80-25 

83-11 80-19 Dec 

Esi. Sales Prav. solos 1UM 

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US TREASURY BONDS (CBT) 
fSpd-SIOOXOOptB S.32ndsot 100 act! 
W-12 57-10 Sap 7+18 7+31 

78-13 57-B Dec 73-16 73-29 

77-29 57-2 Mar 7M7 72-29 

76-6 5+29 JUfl 71-29 72 

75-31 56-27 Sep 71-3 71-6 

7+3* 5+25 Doc 70-4 TM 

7+15 5+27 Mar 

7+36 63-12 Jun 

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7MB 62-24 Dee 

69-16 47-5 Mar 

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Prev. Day Onen lid J28J37 ip|T7 


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9222 9228 

91.92 91.90 
91JB 91J5 
9122 91J3 
98.97 9ffJ4 
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83 <21 S3 
81-07 82-5 
81 81-18 
80-7 80-19 

79-29 


7+6 7+21 

734 73-19 

72-7 7320 

71-11 71-24 

70-18 70-30 
6+27 JO-7 
69-18 
6+31 
60-2 68-13 

67-28 

67-13 


5P COMP . IND EX (CME) 
points end cents 

198X0 160X0 Sep I89XS 191X5 18900 190X5 

S0X5 17170 Dec 19255 19240 1912D 19X10 

WL7S 190.10 Mar 19£35 19SXO 19SJ0 196X5 

20650 19820 Jgn 191X0 19800 198X0 199X0 

Est. Sales 5X999 Prev.Sales 6XU7 
Prev.Oav Open int. 61.920 up2J3« 

VALUE UNE(KCBT) 
points and cents 

3020 TUTS Sep 2BU8 2D3J3 201X5 20X15 

217X5 200X0 DffC 20X70 206X0 205X0 205 SB 

„ . _Mor 209X0 209X0 209X0 209X0 

6st. Softs Prev.Sales 8509 

Prev. Day Open inr. 11J99 off 330 
NYSE COMP. INDEX I NY PE J 
points a n d c en t s 

118X5 91X5 Sea HODS UXTff 309X5 110JB 

117 JO 10IJ0 Dec HUD 112X0 111X5 111X5 

11835 109 JO Mar 112X5 113X5 113J0 173L70 

12000 116X0 Jun 115X5 115X5 T'SXB 115X0 

Est. Sales 12.144 Prev. Softs 11730 
Prev. Dav Open IM, 13X61 off tiff 


volume; o lati of 35 forts. 
Source: Reuters. 


Commodity indexes 


Close 

Moody'S 896X0 f 

Reuters 1X89X0 

D J. Futures 114.13 

com. Research Bureau.. na 

Moody’s : base 100 : Dec 31, 1931. 

P • preliminary; i - final 
Reuters : base 700 : Sep. IS, 1931. 
Daw Jonas : base 100 : Doc 31. 1974. 


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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


Page 13 



'or Japan 



• Reutm 

ft I TOKYO ~ The Japanese econo- 
'^my is besuBng toward a significant 
£ {slowdown with exports rapidly los- 
^jiing motneornm and domestic do- 
£'ixoand ejected todedine^theMit- 
£ £subi^ Reseairij Insrim^ 
i 1 ^Tuesday.' 

» The institute said that Japan's 

ft i gross national - product shooldrise 
A ? 3.6 poceoi in the fiscal year ending 
£»* March 31, 1986, and 2.1 percent in 
S* the next fiscal jean. GNP, which 
> measures the tow value of a na- 
», I don's goods and services, incl udin g 
ifc t income from foreign investments, 
% rose 5.7 percent during the year 
=V ending Maxcfa 31, 1985. 

3 f “A major problem for the Japa- 
nese economy if that exports, 
which had been the dominant 
111 f growth, dement, are rapidly loang 

>■; their cnonstntnm," the report said. 
V Despite a rise in antomobfle «- 
'gi ports to the Uoited States ancr 


April.' there isincreaang evidence 
■ that other Japanese exportsare de- 
dining, Mitsubishi Research said. 

. "Domestic dcmand.is not replac- 
ing foreign demand at sufficient 
levds to snstam expansmt, the re- 
port said, and the growth rate is 
expected to drop to 3.1.pereent in 
fiscal 1986 and to 2.4 percent in 
1987 from 4.1 percent in the last 
fiscal year. 

The corporate investment 
growth rare is expected to fall to 4.8 
percent in the current fiscal year 
from 10J percent in 1985. 

The institute said (hat personal 
consumption in the current year is 
expected to wow 19 percent, better 
than the 1985 gain of 16 percent. It 
also said that the consumer price 
index should rise 13 percent in 
1986 and 1.9 percent the following 
year after a 12 -percem increase in 
fiscal 1985. 


h said Japan’s ament account 
balance should rise to $49.01 bil- 
lion in fiscal 1986 and £38.92 bil- 
lion the foD owing year from S37.23 
ballon in the last fiscal year. 

The trade surplus is estimated at 
$57.07 billion in 1986 and $68.81 
billion next year against $45.62 bil- 
lion in 1985. 

■ Jbbtess Rate Rises 
Unemployment in Japan was a 
seasonally adjusted 16 percent in 
June, an increase from 15 percent 
in May, but a decrease from 18 
percent in June 1984, the govern- 
ment’s Management and Coordi- 
nation Agency said Tuesday. 

Meanwhile, the Construction 
Ministry reported that housing 
starts rose six percent to 1 31363 in 
June from 106,009 a year cute 
after a 33-percent year-to-year in- 
crease in May, Reuters reported 
from Tokyo. 


U.S. Megabuilders Are ScalingDown 


| ; (Continued from Page 9) 

J it? » complied last year in the United 
a States increased by 16 percent, to 
i.'i 1 i $313 bOBon, over 1983. 

■Si, 3 - The long tens also holds prom- 
V: ^ ■ i isc. The greatest potential for the 
r, future, analysts say, lies in so-called 
,% V infrastructure projects: the bridges, 
I it: r-i " dams, highways, telecommumca- 
dons systems, mass transit systems, 
I '% *‘ water treatment projects and haz- 
^ ^ ardous waste plants mat the United 

<} £ £;j- States will require before tire end of 
■’ >«■’? theuentuty. 

Brn for now. this market is only 
- inching akrag. State and local gov^- 
‘ enunent spending on public works 


projects is not expected to increase 
by more than 1.5 percent annually. 

"We’re not going to see a mas- 
sive upswing in public works 
spaiding in the next five years,” 
said Patrick H. MacAuky, a Com- 
merce Department economist. 
“There is just too much budget 
pressure.” 

To take advantage of whai infra- 
structure market there is, says Ka- 
ren Ubelhart of Oppatemar & 
Co„ the big companies must decen- 
tralize, opening regional offices 
rather than handling all bidding 
and design work from bcadquar- 


Britoil Shares Priced by U.K. 


- (Continued from Page 9) 

initially The r emaining 85 pence K 

.due Nov. 1. . 

** Eighty percent of the shares are 

bringonexed in Britain. A group of 
Kants led by Swiss Bank. Carp. In- 
ternational Ltd. is offering 10 per- 
cent in continental Europe, . and 
Wood Gundy Inc. of Canada is 
-offering die «wne amount in that 
country. 

Lazaxd Brothers & Co, the Brit- 
ish merchant bank advising the 
government on the sale, said offi- 


cials decided against offering a por- 
tion of shares m the United States 
because of the cost and complexity 
of complying with UJS. securities 
rules. Bntau officials said they 
hope eventually to arrange for US. 
trading of the shares in the form of 
American Depositary Reripts. 

Applications for aeBrindipor- 

on Aug. 8. 

The government is retaining a 
single so-called "golden share? is 
Britoil, which allows it to block any 
unwelcome takeover bids. ' 


ters. “For the infrastructure, where 
(here is a bias toward small pro- 
jects, it is an advantage to have a 
local presence,” she said. 

It certainly has helped URS 
Cotp., a medium-sized construc- 
tion company based in San Mateo, 
California, but with 40 sales and 
engineering offices — and numer- 
ous on-going projects — across the 
United States. URS* sales rase 60 
percent in the first half of its 1985 
fiscal year, to $44 S millio n Profits 
rose 13 percent, to $1.8 mfllirm 
And the company has a STO-nnllioQ 
backlog of projects. 

“The essential service market is 
durable, but it is primarily local," 
said Mark A. Mine, vice president 
for business development 

Accenting to Mr. Mine, the big 
companies are not yet bidding 
against URS on these projects. But; 
says Eric R. Zausner, a senior vice 
president of consultants Booz, Al- 
len & Hamilton Inc, it is only a 
matter of time before URS and 
other small companies begin to fee] 
the heat from me construction be- 
hemoths. 

Indeed, the giants are getting 
into fighting trim for the impend- 
ing bidding wars. With 70 percent 
of contracts going to nonunion op- 
erations, many are investing more 
in their non-onion divisions. 


■* ror 


Dev 


eSopment Strategies: WhenNeighbors Tak 


e Different Paths 




Ghana and the Ivory Coast 

Ghana neglected agriculture and is one of only 1 0 
nations whose G.N.P. per capita declined over die last 
25 years. In that time, the Ivory Coast replaced Ghana as 
the world's leading cocoa producer and its standard of 
living has risen sharp fy- 



Ghana 

Population t2.fi mJBion 
GLNJP. per capita S310 
Growth 1985-63* -2.1% 

\ 

Ivory Coast 

Population 9.5 minion 
GJN.P. per capita $710 
Growth 1065-83* +10% 


Kenya and Tanzania 

Despite one of the fastest growing 
populations in the wortd. Kenya 's attention 
to agriculture helped Its G.N.P. per capita 
to grow by 2.3 percent a year over the last 
two decades, fn Tanzania, where 
agriculture was neglected, average annual 
growth was less than 1 percent. 


Zambia 

Population 6 3 mHbon 
GLM-P.por capita S580 
Growth 1965-83* -1.3% 



Kenya 

Population 18.9 million 
GLN.P. par capita S340 
Growth 1965-83 ■ +2 3% 


Tj 

Population 20 8 imflon 
GJIP. par capita S240 
Growth 1965-83* +0.9% 



l Buraia 

Population 35 5 million 
G.N.P. per capita Si BO 
Growth 190583* +2 2% 

V/ 


Thaffand 

Population 49.2 miBion 
G.N.P. par capita SB20 
Growth 196583' +4 3% 


Population 6 6 million 
G.NJP.por capita $210 
Growth 1905-83* +2.2% 

\ / 


M^awi and Zambia 

By encouraging small fanners. Malawi achieved a per 
capita growth rate ol 4.2 percent per year over the last 
decade. Zambia relied on its copper exports and small 
industry, achieving annual per capita growth of only two- 
lenthsof 1 percent. 


ThaBand and Burma 

After World War II. Thailand and 
Burma were equally impovenshed. 
and many thought Burma would do 
better tt was Thailand that 
flourished, however, in pari by 
stimulating and diversifying its 
agriculture Burma stagnated 
partly because of substantial 
government involvement at the 
economy 




’ Average annual growth rate in gross nattonai product per capita. 


Source the Vitoria Bank s Vitoria Deieiopmonl Rcpcn 7:W5 




As Industries Rust , Developing Nations Revive Faith in Farms 


(Continued from Page 1) 

can farmers, who already are com- 
peting in world markets with Indi- 
an peasantsfrom the fertile Punjab. 
Indeed, more production would de- 
press food commodity prices fur- 
ther, at a time when they already 
are extremely low. 

The roots of the failure of heavy 
industrialization are varied and 
complex. Local workers often 
lacked the Graining to nm sophisti- 
cated factories and machines. 
Countries ran out of cash to pay for 
spare parts and other imports need- 
ed for production. Industries and 
urban workers were coddled with 
subsidized food and jacked-up ex- 
change ernes intended to keep im- 
ports cheap. 

But low food prices discouraged 
Fanners From producing and coun- 
tries found themselves allocating 
scarce foreign exchange to import 
the most basic of goods: food. As a 
result, many economies stagnated 
or grew very slowly. The cycle of 
poverty continued 

As if these internal forces were 


not bad enough, poor countries 
were then battered by forces that, 
in many cases, were’ well beyond 
them control. The global recession 
of the early 1980s, Africa's food 
crisis, the debt crisis in many devel- 
oping countries, the tumble in com- 
modity prices — all pushed many 
poor countries to admit more aus- 
tere policies, in whicn agriculture 
was given greater emphasis. 

Of course, the change in strate- 
gies did not come overnight. Mr. 
Schultz noted that some countries, 
such as India, began to put more 
emphasis on agriculture as early as 
the 1960s. And even now, some 
countries are stressing farming in 
their rhetoric, but not so much is 
their pobries. 

Moreover, some countries are re- 
discovering agriculture without 
abandoning industry. Industrial- 
ization, after all, has enjoyed some 
successes in such countries as Tai- 
wan, South Korea and Brazil, al- 
though one reason for such success 
maybe that these countries did not 
abandon agriculture in their drive 


to industrialize. Even some partly 
industrialized countries are expect- 
ed in the future to lilt the balance 
more toward agriculture. 

“In Venezuela we made a big 
effort in industry in the 1960s and 
70s,” said Manuel Azpuria, the 
country's finance minister. “Now 
the government is continuing that 
effort, but also putting emphasis on 
the agricultural sector.” 

The changes in the development 
strategy go deeper than mere tin- 
kering with policy. They also re- 
flect turmoil in the field of econom- 
ics, a retreat from the heady 

ous^decades. The entire fickTof 
development economics, which in- 
sists that conventional frec-market 
economic policies are inappropri- 
ate in poor countries and empha- 
sizes state involvement in the econ- 
omy, is on the defensive. 

“The realization has come to 
many countries that they aren’t 
feeding their people,” said ML Peter 
McPherson, administrator of the 
Agency for International Develop- 


ment. “In the Iasi few years, people 
have begun to face ihe severity of 
the problem." 

Data are sparse and often anec- 
dotal, but the changes are visible all 
over the world. Togo is trying to 
sell or lease its factories to foreign 
investors. The Philippines has be- 
gun new agribusiness -ind aquacul- 
ture prefects. Algeria's new five- 
year plan calls for more investment 
in irngatiou. 

Aryl Tanzania, w here dozens of 
factories are hobbled by a lack of 
spare parts, has returned some un- 
productive sisal hemp plantations 
to private hands. 

“We made a big mistake to na- 
tionalize these sisal estates, and 
then beast that our people would 
manage them better man their for- 
mer owners," President Julius K. 
Nyerere of Tanzania was reported 
as having said in May at a public 
meeting. “If 1 called the British 
today to look aL their former sisal 
estates, 1 am sure they would laugh 
at us because we ruined their es- 
tates." 


What was wrong with the old 
strategy of ir.duMnj! development 
with its exhilarating aims oi expe- 
diting chance and equalizing the 
relationship's tween the First and 
Third Worlds? Why the lareish on 
this strategy, frequently advocated 
b> both Washington and Moscow, 
and adopted by developing coun- 
tries from Chile to Romania’ 

“One of the great mistakes nude 
m the yean, following World War 
II. uhea there was a prezr enthusi- 
asm for development." was for 
countries to assume 'Jus they ;ump 
from a rural sooeiv directly to ur- 
ban industry, said Mr. Galbraith, 
the Harvard University professor 
who cultivated an interest in devel- 
opment while he was ambassador 
to India in the early 19c*0v "If you 
didn't have a steel mi!) or a ma- 
chine tool plant, you really weren't 
there." 

One problem was that manufac- 
turing often depended on imported 
materials. A toothpaste factory, for 
example, might require imported 
chemicals and metal for the tubes. 


Tuesday’s 

ore 

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au— u 
* 

25% 




144 

34 

23U 

23*— lift 

M* 




7«J 

11 

HHb 






IS. 

11* 

UPfti 


8W 

2% If* 



484 

4* 

7* 

8* + * 

1 H 

■MliV 

■i 

bfh 




15% 


.16 

1J 

ia» 

11* 

13 

13V. + * 

0* 

3* Jockooi 



617 

6* 

« 






49 

3*% 


39* 

27% 

14% Jam Wlr 



14 

18 




B* 5W JefMort 

a 14 U Jen co 

7V. 3* Jon lew 

13* 6* Jospnsn 

19 9% Junes 

SOVft law. Juslln 


-W 4 


At 11 


30 

158 

54 

71 

MB 

Z78 


5* SVft 5* 

30* 19* 30 — * 
4% 4% 4% 

b* a* a* + u 
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19 18* IB* + * 


c 




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1 

24* 

13* KLAS 



1628 

21* 

so 

SO —Ita 


4ta KVPhr 



14 

6% 


6%— ta 

33 

19ta Konun 

M 

U 

11 


31 

31 - ta 

30* 

13* Korctw 


144 

15% 

IS*— ta 

17% 


JBr X* 





i?5 

kta KovdQn 



12 

9 

9 

9 

29* Kemp 

IM 

3.5 

311 

54 

55* 55* + ta 

41* 

19 KvOlU 

.90 

2J 

170 

39* 

39* 

39*— * 

BW 




16 

k* 

6% 

4* + * 

13% 

7ta KevTrn 



241 

8* 

a* 

a* + * 





IS- 

3ta 

Sta 


ES 

13 Kinder 1 

JA 

J 

994 

21 

20* 

20*-* 




369 

7ta 



16* 

7* Krwser 

J2 

23 

112 

Uta 

H 

uu + ta 

2** 

13 Kulcfce 

.16 

IX 

274 

14 

15% 

15% — % 

c 




L 



| 

lita 

6* LDBrnN 



112 

7* 

7* 

7% + * 

16 

5* UN 



83 

14 

13% 

13% — * 

SO 

.9% LSI Lob 



408 

14% 

uu 

u% + ta 


Id LTX 



191 


uw 


15% 

Ita LoP«los 


353 

lita 

15 

IS — * 




ax 





SO* 


.sa 




19% 

19% 

10* 

10* LOMIW 

JO 

Ll 

64 

18 

17% 

17% — ta 

17 


Mi 

5.1 

11 


15% 

15% 

I7ta 


40 

4 A 

19 

15* 

uta 

15* + ta 

21* 


M 

l 5 

538 

18* 

18 

18% + V 

59% 

E~bE L " t 

SI 

TO 

56* 

UM 

5S%— V. 

32 


32 

U 

284 

29ta 

28% 

20% 

IS* 

Er^» ■ Tij '-'Jfl 



142 

* 

Mft 

4 

>5* 

8* Lttntr 



>1 

9* 

9* 

9* + M 

9* 

4ta 

7* Lewi»P 
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30 

i£ 

SB 

378 

3% 

k 

Sk-Jf 

24 V. 

17U Uebn 

m 

J 

44 

22% 

21% 

21% — IA 

46ta 

38 Llliwt 

34 

J 

1 

45% 

45% 

45% 





54 


* 

4ta + ta 

20% 


JO 

is 

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If* 

I9U 

19% 

32% 




581 

31% 

31* 

31*— * 

34% 

94* LlncTel 

23B 

ii 

11 

34% 

34* 

34* 

69ft 

4* LlrKDro 

.16 

7 

5 

4* 

5 — ta 

49* 

20 UzChis 

J5 

A 3448 

46* 

44 

44* -Mie 

25% 

20% LonsF 

MB 

SJ 

44 

25 


24 —1 

33% 

16 Lotus 



926 

28 

27* 

28 

24% 

19 Lvnden 



12 

26% 

24V. 

24V. „ 

29 

7% Lypnoi 



1084 

25* 

24* 

24*— 1* 




M 



1 

U% 

8* MBI 



84 


ILJJ1 

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11* 

4 MCI 



5273 



9* + ta 

7* 

4U MIW 



in 


BrTj 

7* 

31 

15 MTS s 

34 

U 

36 



20*— * 

27* 

13 MTV 



25 


27 

Z7* + V. 

77W 

9* MackTr 



>283 

min 

10* 

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27* 

19* ModGE 

130 

9J 

to 


21* 

23* * * 

11 

7% MoIRt 



1 

8% 

8% 

0% 

Uta 


Jl9 

23 

12* 

ISta 

12% — ta 

14ta 




245 

15% 

14* 

15*— ta 

241ft 

1714 Monllw 

At 

33 

24 

74 

E‘ - ^ 

24 + ta 



IM 


44 

85 

1 ^ ['.j 

64*— % 

19* 


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16 

18% 

^ .11 

18% 

9 

4* Motwx 



25 

S 

■ Mfl 

5 

37 U. 

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IM 

2.1 

735 

Evl 

PH 

32*— M 

67V. 

19% Mxoin 



136 

K.l 

66* 

6% 

1% tumor 



137 

2* 

2* 


102 

33* MatrxS 

-10 

J 

23 

31 

31 

31 +1 

24% 

I2ta Mover* 



2391 

21% 

21 


14* 

8% MaxwM 



M 

13* 

12* 

12%— * 

7% 

3* May Pi 



145 

5* 

S 

5 







4* 


38* 


M 


121 

38% 


34%— % 

u* 

10* Me Fart 



73 

II* 


n%— % 

n* 

5* Medex 

-05 

J 

158 




n* 

4 MedCre 



439 

5* 

5% 

20* 

n..j . m 







30* 




4fi#9 

21* 

20*— !* 

39* 

25* MercBe 

L92 

5.1 

44 



37*— ta 

45 

34 MercBk 

1X8 

2J 


^E_T2j 



22 

8% MrcnCo 






36% 

19% MraOci 1J0 

21 

32 



35% — V. 

so* 

11% MerlBs 

3b 

29 

51 


19 


22ta 

lita MeryG 



307 


15* 

!»— % 

17* 

B AketrFn 

xat 

4X 


is* 

14* 

IS*— ta 






21% 

20% 


6% 




127 

3* 

3 

3 — * 

13* 

5* MIcrMk 



37 

a 

7% 

a 

9U 


-06 

.9 

150 

6% 

kta 

4% + * 

40* 

5* MtcrTc 



512 

8% 

1* 

8*— * 

9 

4 Micros 



51 

7 

69ft 

6*— * 







s* 


7% 




44 

3ta 

Jta 

24 


AO 

1.9 

1 

21U 

21ta 

21% + ta 

41% 


1.12 


492 

37* 

34* 

36%— * 

• 




48 

6* 

4* 




-to 




39* 


8% 




141 

4* 

4 

4 — * 



.40 

1.1 

405 




8 

1% Minhcr 



tt7 

■ J 

2* 

2*- * 





176 

Wj3 

22% 

22* 



Jle 


44 

10* 

10 

iota— * 






ii 

10% 



12% Modifies 

M 

27 

9 

lita 

18 

ISta 


6 Motocir 



28 

4% 

4* 

4*— u 

S' L.V- Jl 


J3 


67 

35 

34* 

3S 





22 

vw. 

18 

10% 

23* 

9* Mono lit 



IM 

12* 

13* 

13* 

33* 

51% IVtonuC 

1 JD 

21 

132 

32* 

Jl* 

31* + * 

20 V. 

11* MarFlo 

Jl 


2 

TV 

18* 

18* 



.Id 

U 

147 

13% 

M* 

13* + * 


1 1 — rrw 

AS 


no 

22 

21* 

22 4 ta 

7* 




161 

4ta 

4* 

4*— * 

20 


JO 

U 

« 

15 

14* 

15 + ta 

44* 

30 Muirmd 

66 

1.1 

334 

S8U 

58 

58% + V. 



.10 

J 

791 

22* 

21% 

22 




N 



| 


13 

4* NCACp 



2 

Sta 

5 

Sta + ta 

6% 

Jta NMS 



317 

4* 

A* 

6*— * 

UW 

5ta NOPCOS 



35 

14 

13* 

U + * 

74% 

18* NfinTox 
29* NtICtv 

J4 

SJ 

SO 

21 

22% 

23 

50% 

2X8 

4.1 

942 

48* 

48* 

48*— ta 

20% 

10 NtCptr s 

JB 

LI 

166 

IRfc 

If* 

18*— * 

16% 

4* NBota 

A* 

3J 

1015 

13% 

3* 

13*— * 

34 

16* NHItC* 



2Z7 

IB* 

17* 

18 + W 

7* 

4* NILimb 



>» 

4ta 

6 

IWttt 

10* 

2% N Mk>ftt 



281 

3 

2* 

3 + * 

MM 

4* NOUOM 



90 

3* 

5* 

5*— * 

11% 

4* NetsnT 

JO 

U 

37 

4* 

A* 

4*—* 

12* 

9ta 

ita Merton 
4* WwkSec 



155 

79 

7% 

7* 

7* 

J* 

7* 

7H— * 

24% 

14* NtwkSs 



1UD 

25* 

25* 

25* + * 

24* 

IT 1 * Neutral 



49 

13 

31* 

11*— 1* 

17* 

4* N BrunS 



48 

10% 

10 

10* 

31 

23* NEBuS 

Jl 

1J 

4 

28* 

28* 

28*— * 

30* 

15* NHinpU 

M 

2 S 

4 

Z7U 

77% 

27% — <4 

29* 

15% NJNall 

1.12B 4J 

123 

27* 

26* 

26* 

A* 

3* NYAlrl 



823 

6U 

6* 

4ta 

16 

8 NwldBk 



128 

lita 

15 

15* 

sou 

18 N8W0I 

X6 

J 

185 

25 

»% 

34%- % 

12* 

Ita ttwePti 
2* NIColv 



928 


11* 

11* 

7* 

* 


207 

.2* 

2*— ta 

11% 

A* NlkeB 

2 

14 

791 

11* 

UW 

Uta- * 

21* 

16% Nor dsn 
77% Nor (fair 

IX 

738 

11% 

18* 

it*— ta 

52* 

A4 

O 

1888 

48 

47* 

48 — ta 

431ft 

26* NrttcB* 



176 

42* 

41* 

41*- Vft 

«v 

ili NorictaP 



93 

7* 

7W 

7ta— Mr 

18* 

S NA)nn 



13 

7* 

m 

7* + ta 

16% 

6% NestSv 



469 

U* 

Uta 

l£* + * 

20% 

13% NwNG 

1X4 

1A 

127 

18* 

18* 

IB* + ta 

33* 

17 NWTFni 

x8 

IS 

M 

11 

38* 

38*— % 

34* 

18% NwNLt 

M 

ID 

197 

27* 

24% 

27 

24* 

it* Nwsire 

110 

9.9 

43 

fl* 

21* 

fl*— ta 

55* 

34* NoxeU 

M 

IX 

47 

52* 

52* 

S3* 

7* 

5 NudPh 



397 

6 

5* 

5*- * 

9% 

4% Numrox 



37 

7* 

7* 

7* 

31 ta 

14* Numeric 

M 

IT 

13 

29% 

28 

28 — % 

MW 

6% NutrtF 



IB 

8% 

Mt 

8* + U 

13% 

4% NuMedi 



50 

12V. 

12* 

12*— * 


rz 




O 



I 

5* 

1* Oceaner 


674 

2* 

2% 

2%- l . 


9% Oclilos 



128 

16W 

r 



2»* OaOGo 


2 A 

105 

45W 



37* OMoCa 

280 


4U 

61% 


61% + * 


15% DldKnls UK 

3J 

44 

31% 

30% 


23 CHOKoi 

J4 

26 

378 

37* 

77* 

37ft— * 


1B% OldSotC 2X0 12.1 

22 

21% 

21* 

21*- * 


9ft OnrBa) 

Jte 1J 

241 

20% 

19% 

20*— * 

9V. 




39 


7% 


23* 

13* Donee 



63 

T5"ft 

15* 

15* 


22* OpIlcR 
10* Or bene 



307 

39 


39 + W 

19% 



12 

15 

IS 

IS 

8* 

5* OrtHl 



264 

7* 

6% 

a%- * 

7 

3% OrtoCo 



17 

4% 



& 

14 Osnnm 

JO 

U 

1 

16 

16 

U 

25 OlirTP 

276 

9J 

76 

30% 

29% 

2** + * 


TIA OvtEmb 




II* 

lift 

lift + W 


12 OwonM 

.40 

1.7 

35 

23% 

23 

Vifc 





495 

v. 

% 

d 




P 



1 

33% 

ran pnCs 



1126 

Ena 


28* 41* 

SSta 

39% Pacts' 

IJOo 24 

90 

■jS 

45 

45* 4 * 





372 




15 

10 PocTel 

M 

SA 

3 

Uta 

13* 

Uta + % 


1 J 



15% 

15* 

IP'S — ta 


■MB. 1 - 

.13 

IX 

118 

Ota 


BW + ft 


10% Pongof. 



110 

24* 


24ft— V. 


13% Portion 

X0 

*A 

16 

13% 

13* 

13ft— * 


4 PotnlM 









| 


17 




irx 

S* PoulPi 







16* 

7% Pavcfix 



162 

16* 

16 

16 


9* PMkHC 



433 

16* 

16% 

16% 


19* PeanH 



1005 

24* 

24% 

26* — * 


Sta PeaGId 

X6 


463 

9% 

9ft 

9*- % 

35 

19 PenaEn 

2J0 

45 

138 

34>I 

34 

34 - ft 

31% 

18% Pernor* 

-68 

22 

74 


30% 


13* 

7* PeopE* 



371 

11% 

It 

UW + * 

■wl 

24* Petr Be 

1.12 

4.1 

34 

27* 

27 



4 Phrmci 



87 





4* PSFS 

JH. 


1289 


10 


17* 

13% PtlilGl 

Me u 

2194 


14% 



2% PtinxAir 



28 





17% PteSav 
14* PlcCate 

xo 

2J 

999 

12 

pa 

3tta 

22* 

24*— ta 
22* 


24% PKHIHI 

.92 

25 

53 


3e* 

34% + ta 


7 Phwsi 








8% PBFoBc 



79 

14* 

U% 

UW — * 









29 

19 POrtrx 







3* 

1% POtfOII 



229 




17* 

9* Powtki 



18 





5% PwConv 



IDS 




37% 

18 PreeCel 

.12 


355 


31% 



«ta PrpdLo 



299 





3 Prtom 



123 

4% 


4* 


5 PrtcOn* 






66 

34% Priced 



1288 


47* 


77% 

9 Prtronn 



78 




6 

4* Praaop 

.16 

13 

SO 

4* 



42 

20* PruuC f 



it 

38 

37ft 

37% + * 


12% Pnj»lTr 

IM 

BJ 

72 


13% 

13% — m 


13% Prowln 



135 

16 Vft 

16% 

14* 


3* Pullmn 



493 

71ft 

6% 

6%— ta 





4 

23% 

23% 

23% — % 

1 



' 




( 

16* 

8* QMS* 



1351 

11 

low 

101ft— * 


3* Quoanc 








v OuakC* 

J8 

3J 

99 

11* 

10% 



14% QvKftiTm 



SOS 

26% 

Uta 






111 



4% 

12% 

Sta ttslxrtiei 



23 

12 

12 

12 — % 


7% Quofrn 



1005 

11% 

11 

11*— * 

1 




l 



1 

14* 

ETJTTTB* 

XU 

.1 

34 

8* 


8% 

18* 


-56 

3X 

283 

16% 

UW 

16ft — ta 





149 

II 



Uta 




83 

12* 

12% 

12W— ta 


■ T^Tb 



96 




7» 

2* Rosen 



75 

4* 


4%— ta 

33% 

19* Rolnrs 

IM 

3A 

177 

291ft 

28* 

29* — W 


12* RayEn 

M 

U 

42 

19% 

mu 

19* 4- * 

7* 

3% RMICr 



30 

4W 

4 

4* 

23* 

ISta Reoano 



108 

20* 

30* 

20*— * 

9* 

5* Reaatn 



173 

9% 


■* — W 

35% 

25% RecftnL 

44 

2 A 

106 

26% 

25% 

Mta + * 

13% 

3% BMvn 



90S 

10* 


10* — ta 

9* 

5% RBCVEI 

30 

33 

57 

6* 


kta — Vft 

20* 

11 Rewss 


A 

12 

16 

16 

14 

UW 

•M Rellob 







18 

7* RPAulo 

.16 

18 

109 

9% 

a* 

9 + * 

20% 



1152 

13* 

12* 


14% 

11% RaurSv 



29 

la 

15% 

Ik + ta 

14* 

9% Rnutarl 

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10 

91ft 

9% 

9W— ta 


17% ReutrH 

J* ix 



23 


43% 


J4 

3X 

120 

4ita 



ISta 


J4 

1J 

9 

14 

u 

14 — * 









17* 

0* Rival 

M 

SA 

204 

15% 

14% 

14* — ta 





416 




U% 

1% RobNua 

X6 

J 

3 

13 

13 

13 + ta 

13% 

8* BubVjn 



134 

13ta 

12% 

IJ — W 

ww 


J4 

23 

20 

23% 

22* 

23 + ta 

13 




3 


11 

0%- W 

13 

4% ROVlRB 



0 

5 


5 

1 RirtfPel 



67 

16% 

16* 

Ik*— •- 

i»w 

11% RvanF s 



6 

18 

171ft 

17*— * 

— 

BBH 

■B 

T 

■B 

■■1 

^B 



7* SAY ina 
IffVft SCI Sv 
10* SEI 
7 SF E 
I2ta SRI 
4* Sbfecds 

28* Safeco 

11* SafHiih 
7U SUude 

39U SI Paul 300 4J 

7 ta Sal Col 
6ta Sanoar 
5% SaioiSv 

37% SaynF 
9ta 5UP5f 
4 V. SCOnOP 

8 Scan 7 r 

8* Scherer 


U 
m 
19V. 

Uta 

a 

20* 

44* 

a 

75* 

4 * 

lita 

9* 

444, 
lita 
lita 
16 
Hta 

nw is* sdiiniA 
8* 3* ScfMfc 
18ta 7 SdSIt 
21 * 

•* 

18* 

4* 

12V. 

30* 

11% 

10* 

25* 

23* 

8% 

17* 

34* 

29ta 
30* 

14* 

3ita 
14* 

uu 

22* 

23V< 

24* 

12 * 

17% 

15V, 

Mta 

12 % 

4ta 
54 
19* 

10* 


.Wlr LJ 
-68 U 
JO 10 
160 4.1 


JBr 4 
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IaOq 37 


-32 24 

AD 10 


5# 

448 

45 

34 

323 

343 

435 

7 

381 

450 

41 

79 

1 

7 

97* 

2 a 
34 
94 
73 
40 
40 
317 


Uta 13* 13* -1 
14% 14* 14% + * 
18* 1BV. uw — ta 
9 8% 9 + ta 

19* W 19*11— * 
20* 19% 19*— * 
39* a J9ta + ta 
20* 28* JO* — * 
14% 14* 14*— ta 
49* 49 69* + * 

5* 5* 5* 

■* a aw. — * 

7 7 7 

43% 43* 43% + * 
14% Uta Mta — U 

a* 7* 7* t * 

IS* IS ISta + * 
17* 12* 12*— * 
23 &% 22%— ta 

4* 4% 4% 4 '» 


812 8* 
ISta 1$ 





13d 

7* 

4* 




I6C 

7ta 

7* 

2* 58CTOO 



447 

21ft 

2* 




1004 

2% 

a* 

17* 5eHt*i 

M 

4-4 

119 

19* 

IB 




24 

Sta 

1 


JB 

A 

872 


lift 

SvtsMr 

XB 

A 

895 

14 

>3% 




338 

30* 


Uta Service 

I 



23 

33 


4* Swfr a 

12V. SevOok 
33 ShrMed 
27* Shwmts 
9* stwibvs 
6% SheW 1 
24% snomrvs 
10 ShonSas 
6* silken 
9* silicons 
11% SiikVal 
11% SHlcn* 
4* SUtec 
}|U Sitnpin 
9* Stoplns 
Uta Sluin' k 
8 Uionr 
2% Smnni. 
30 SoctalV 
8* SOCtvS* 

Sta Sol lech 


.16 IJB 
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1-68 46 
-16 A 

.IS A 


1 

90 

2DU 

45 

183 

a 

274 

231 

104 

178 

11 
279 
445 
30 

12 


B* + * 

15% 

7* + * 

Tta 

21ft 

2 *— * 
lita— IV. 
flta + ta 
8* 4 1ft 


33 + * 

5* S* S*— ta 
16% 14* 14*— ta 
□Oft. 29% JO* + U 
37V| 36* 36*- W 
20* 20* S0* + * 
11* 11 11 — ta 

27% V 27% + ta 
10* 10* 10*— * 
7% ns 7H> 

13 19* 13 

17 16* 17 * ta 

23* 22* 22*— * 
4* 4* 4*— * 

16 15* IS* — Vft 

13 17% 13 * ta 


31* 9ta SotlwA 
28V: ISta ScnccF » IJB *£ 
2711 Uta SoArFO -45e Z\ 

6V« 4 SoHma 

38* 201ft StnoFn 
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Page 14 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 



PEANUTS 


it's a difficult 
LANGUAGE. . 



BOOKS 


BLONDIE 

I MUST 0E J IS THE BOOK 
FIR fAf I < HELPING ?j— 
MUST BE 
POSITIVE > \\ 


HB9H HBHI 


YES, ITS VCRK1N& W 
_WCNOS?S 


MOM, SOU J/0SOLUTEL,Y 
SURE t r NOT ! r-' 

CAN'T SO ) S r-~s£** 

TO THE J 
GUJN&Sa \ // 

WVRTY? } ' Ww 


AND THAT'S JII* 
* SEMI-PINAL 1 T 



j 


ACROSS 
1 CiviJ-rights 
org. 

(Candida’s 

creator 

lSGemian 

philosopher 

14 Saul's witch of 

15 Footaraw 

16 Descendant of 
Fatima 

17 Like a dum- 
dum 

16 Exude 

19 Brilliant star 

20 Inventor 
Edwin’s cloak 
(or painting) 

22 Hoosegow 

23 Glabrous 

24 Thus far 

25 Superman's 
Lane 

27 Strategic 
position 

31 European spa 

34 Tiny paladin 
(or Monday 

evening) 

36 Macaw 

37 Flies high 

38 Actress 
Chari one 

39 Moscow 
mimes (or 
editors) 

42 Jogs 

44 Deep-voiced 
woodwind 

45 “Take 

Train" 


47 Flatfoot 

48 Historic 
records 

52 Tumult 

55 Own a nanny 
(or try) 

58 Drama’s 
conflict 

59 Hunkydory 

66 Cal las role 

61 Discovery 

62 Author of 
“Battle Cry” 

63 Amount to 

64 Those opposed 

65 Courteous 

■ bloke 

66 Lewis Carroll 
animal 

DOWN 

1 Simon and 
Sedaka 

2 Former Indo- 
chinese state 

3 “A Bell 

for " 

4 Give solace to 

5 Star of “The 
Music Man” 

6 Portico 

7 Eyelet 

8 Woodsman’s 
tool 

9 Sorrow 

16 Amahl’s 

creator 

11 Frenzied 

12 Sunder 

13 Radiol o- 
gist'spboto 


21 Greek letter 

22 Noted Quaker 

24 Wild oxen 

26 Syncope 

27 Russian linear 
measure 

28 Field: Comb, 
form 

29 Mountain pass 

36 Provencal 
summers 

31 Fishhook 

32 Expanse 

33 Papes 

35 Cereal spike 

37 Crossroads 
sigc 

46 Climbs 

41 Self-composed 

42 Group of 
keleps (or 
lessees) 

43 City on the 
Irawaddy 

46 “Some 

meat . . 

Burns 

49 Main artery 

96 University at 
Beaumont, Tex. 

51 Approach 
stealthily 

52 Loft the golf 
ball 

53 Exchange JCe 

54 Maxilla or 
malar 

55 Leporld 

56 Related 

57 Waistcoat 

59 Container for 

Omar 


BEETLE BAILEY 



■a 5 ( tudeeei 




ouew T farm rr,SM&£i 

J TWS NOT WHAT 
HAYSTACKS ARE j 
V _ FCfci 





% JQ- 


ANDY CAPP 

( FORGET IT/ AW NOT 
I >JMNNSC »47WO < 
f nQRFTWAE JOBS 
L Ar/VWTKWEO*UFE/, 


"THE TROUBLE WTIH. 
V MDU ISVOU 
( THINK 'TOOK'. 

( FOR A CHANGE J 


(lWtWv Hi«v Kmpi Mn. LM 
CM by Hm amMea SiMcmm 


^LOCKON^ 

Diversifying 




you can't 

r RBOQON rri 
WITH 'EM Y 


WIZARD of ID 


© New York lanes, edited by Eugene Mtdnka. 

DENNIS THE MENACE 



s mm \ 

me 

-4NYTHI!l^ T27 

grAPrrttiom 
Ar-mm 
OF Tfi4T 

v wp y 


X • 

WA£ 

vmro 

VOOG i& 


m&m 


REX MORGAN 


WEIL START OUR SALES MEETINGS 
ON A NEW PRODUCT IN ABOUT TWO 
WEEKS. MRS- WSHOP/ IN THE MEAN- 
TIME. I'M TARING YOU OFF THE fjT 
road/ i iMMirn 


/ THAT’S 
ft YOUR 
PRE- 
ROGATIVI 


( HOW'D 
rr go, 

CL AUDI, 


THE PIRANHA GOT ME, JEAN i 
I'LL 6£ IN MV OFRCE ABOUT 
FIFTEEN MINUTES— JUST * 
ABOUT LONG ENOUGH TO TYPE 
OUT MY LETTER OF 
RESIGNATION/ 


BREAKAWAY: On the Road With 
the Toor de France 

By Samuel AbL Illustrated. 178 pages. 
$16.95. 

j Random House, 201 East 50th Street, Hew 
York, N. Y. 10022. 

Reviewed by Steve Tesich 

I NSamudAbfs account of the l9S4Toor.de 
France bicydc race wc get a wonderful 
combination of travelogue,- history and, of 
course, description of the rac& One need not 
be a hard-core bicycle-racing fanatic to enjoy . 
tins book. The lovelythmg about it is that the 
narrative moves faster than the riders. It sees, 
what they don't see, pauses to reflect and. 
summarize, then rejoins the chase without any 
sense of intem^rion. 

Take, for example, the riders passing 
through the village of FaveroUes. Abi paoses to 
tefl us, “Dumas grew up near FaveroUes, 
and it was there that Victor Hugo had Jean 
Valjean steal the loaf of bread in TLes Misera- 
ble*/” And later “The rolling fields were 
broken by thickets of trees in which who knows 
how many soldiers died in World War L” 

The 1984 Tour de France had all that a 
fictionalized account -of this race would have. 

If anyone ever makes a film of the Tour, this 
will be the race that inspires h. We have the 
crowned king of the sport Bernard Hinault 
(who lost last year but won for the fifth time 
this year). We have the man who wants to take 
the crown from him, Laurent Fignon. We have 
an American, Greg LeMond, trying todo wbai 
no American has ever done, win the Tour. (He 
finished behind Fignon and Hinault) 

We have the hand of fate plucking an un- 
known rider from the pack ana making him the 
leader of the race for 12 of the 21 stages. 
Hardly anyone had ever heard of Vincent Bar- 
teau before the 1984 Toot. Hardly anyone will 
hear of him again. 

Abt, a deputy editor of the International 
Herald Tribune, has written about the Tour de . 
France for his newspaper since 1977. He de- 
scribes crashes, broken bones, broken dreams, 
breakaways and foolhardy solo attempts at 

glory, but we never linger too long with any of 

them. The race moves on. Ih^narrative moves 
on. Across the flats. Up the Alps. Down the 
txt»cherous descents. The personalities of the 
riders are revealed in the context of their Strug- . 
glcs against the elements and each other. 

A rider talks about a teammate, saying that 
if he had a brick for every crash, he could have 

Solution to Previous Puzzle - 


nEODH □□DHU □□□ 
EE0EOnail0[3E3 □□□ 
DEQEtJQ EQEO ODQ 

Baanaa □□□□□ 

EE0G BQD □□□□□ 
BED E3D33 QI3E3S 

anciEsma aBcianaE 
BBora snan eqq 
ededqdq aaa □□□□ 

BEuSQ aaanati 
□OH □□OC3 GJ CHI 333 
□EE 

BCD □□□□□ □□□□□ 
EEO □□SSB SO Cl BE] 


built a castk. Spoils hyperbole is present to* 
“Nothing srirred unta-uE first bonus sprin 
when Eddy Hanckam, a.sprint ^edalist wl 
the Panaaviic found hunscif dudh) 

23-second bonus. Piandtaert should have wtj 
but did not, overcome with amazement, fit 
somebody at a country auction suddenly roi 
tzing that the other binder for an old brass be 


ging that the other bidder for an old brass be 
is the Getty MosennL n { 

The riders move through villages where pei 
pie have waited fca - hours just for a glimpsd ! • 
the pack as it goes by toward yet anoth* jet \ 
village. The movement of the riders umfii he j 
France into 'a anHa-adsded entity in a w? p- ’ 
that ishard toim&andwithomreadrn^tl p, 
booL Its amaaing that Mr. Abthas describe ff 1 
somaAso wenm<mly’178pa®ss. " -f \ r V 

Steve Tesich j. who wrote die sqwnplays /<A H 
“Breaking Awty n and die forthcoming ”Aineri\ |d 
con Byers," wrote this renew for The New YorkX W 
Toner. ; |p~ 

BESTSELLERS' | 

IV New Yak lines f* 

This K« k bised on reports from more than 2JXX) bcii ; :?'.’ fa ; 
throogboauVUniiedSuies. Weeks on list are not necesnrily V • 
coDsecatne.. • f‘ 1 1 


FICTION 


Utf Weeks 
DU mite 


1 SKH^rONCSEW.bySMphenKutt - -I ; '4 I 

2 THE FOURTH DEADL Y SIN, by Law- -. j 

react Sanders 4.2 

3 THE HUNT FOR RED - OCTOBER, by _ _ 

Toni Clancy — — — -- 2 19 1 

4 THE ODER HOUSE RULES, by Jobs - i 

Irvin* - — , ; ' 3' 10 

5 LONESOME DOVE, by Larry McMuruy 5 S j 

6 JUBAL SACKETT, by Loais L' Amour ... 6 .10 ! 

7 HOLD THE DREAM, by Barbara Tayker 7 11 j 
S IF TOMORROW COMES, by Sidney 

Sbddan — S 27 

9 FALL FROM GRACE, by Lany Coffins 12 2 

10 A CATSKILL EAGLE, by Robert B. ^ 

Paitcr ■ • ' ■■ 10 6 

11 THE CLASS, by ErichSesal — 13/1 

.12 INSIDE, OUTCIDE, byHoutan Wouk _ 11 1»V 

13 THE LOVER, by Matgoeriie Dons 13 2 1 

14 FAMILY ALBUM. by Damrfk Steel — _ — 20 

15 THINNER, by Kjcbard Bachman 9 22 

NONFICTION 

1 YEAGER: An AnfoKograpty, by Chuck 

Yeager and Leo Janos — -t 3 

2 iacoCCA: An AnwMogmhy, by Leela- 

oocemrith WUEam Novak — ; ; 2 39 

3 A PASSION FOR EXELLENCZ, by Too 

Betas and Nancy Austin ■■ 3 12 j 

4 SMART WOMEN, FOOLISH CHOICES, 

by CnnnoiTI Cowan and Mdvyn Kinder 4 17 j 

5 MARTINA, by Martina NanuOova with - . . j 

George Vecsey 5 2 

6 NUTCRACKER, by Sham Alexander w 7 - 4 I 

7 THE MICK, by kfiocey Mantle with Hob 

GHct - - — — — - — - . — . 1 / 

8 MQUNTBATTEN, by Phflro ZImIct 8 .91 

9 CONFESSONS OF A HOOKERby Bob 

Hope with Dwayne NeUand 9 111 

10 - LOVING EACTi OTHER, by Leo Buscag- • ' 

•• ha i ; :• 6 48l| 

11 THE BRIDGE ACROSS FOREVER, by . j 

• RkfaaidBach ... 1 19 47 [ 

>2 THE DANGEROUS SUMMER, by Er- I 

nest M»i«nii»|,g , a y 10 . 2 ! I 

13 BREAKING 'WITH MOSCOW, by Ar- 
kady N. Shevchenko ■ 12 22 J 

14 A LIGHT JN THE ATTIC by Sbd Sthrr- •* ! 

stein : —139 

15 THE COURAGE TO CHANGE, by Den- ■{. 

nis Wbolcy ; — 21 L| 

ADVICE, HOW-TO AND MISCELLANEOUS -tf- 

1 DR. BERGER'S IMMUNE POWER : V 

DIET.'by Stuart M. Berger 17 7 

2 THE FRUGAL GOURMET, by Jeff I 

Smith. ; 2 17 

3 SMART COOKIES DONT CRUMBLE. 


s -q 


by Sooya Friedman 
NOTHING DOWN, by: 



5 WEBSTER'S NINTH 
G1ATE DICTIONARY 


DOWN, by Robert G, Alien 
S NINTH NEW COLLE- 


4 3 W 

5 4J I 


What hmie those frogs been eating 

TO MAKE SOUNDS UKETHAT V 


GARFIELD 

povoowant \f BARK I 

SOMETHING TO I ( ft ARK* 
EAT, 0Wfl?7 


' POWU? \ / YlP/YiPf 

( 0ARK! 


>THE. WORP ♦PlGNnV'* IS NOT> 
S IN A FOG'S VOCA0CJLARV ) 


By Alan Truscotx 

r\N the diagramed deal 
KJ North-Soum lad no obvi- 
ous game contract and landed 
in five diamonds, as good as 
anything. South won the open- 
ing heart lead with dummy's 
bran ace, cashed the dub 
queen and ruffed a bear! He 


NORTH 
♦ A J 8 6 4 3 
9 — 

O 7 


WEST 
4EHI71 
9 J 
OK 


ill iF 

* J 87 
SOUTH 

il 

• cuts 


BRIDGE 


led the club ace and when West 
ruffed with the trump eight, 
overraffed with the jack. 

A tramp was ducked to 
West, who played another 
heart, forcing the declarer to 
ruff and leaving this position: 

South could and should 
have drawn tramps at this 
point,' making the game. But he 
erred fatally by leading a low 
dub. West raffed with the 
trump king , reaching the mo- 
ment of truth. Readers should 
decide whether they would 
prefer to play or defend this 
point 

A low spade would allow 
South to finesse and so enter 
his band for another dub ruff. 
The lead of the spade is led. 
The only winning defease far 


West after scoring the dia- 
mond king is to lead the heart 
jack, ^deliberately conceding a 
ruff-and-sluff. 

. . .'ii 

NORTH (D) 

• - « 

VARS 

4J7*_ 

*<t ■ - • • _r. 


ill 

4 K U 8 0 Q3 

*8 - .*J8 7«2 

SOUTH . ' 

$ 8 - ; - 

BMh Mo ware mfeerebto. Tba 

■ ■ ■« - 

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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


I'age 15 


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Jon Barrett, from East Peoria, Illinois, was thrown from Iris boat, left, as h crashed at more than 130 miles 
(209 kflometers) per hour diving a heal of die American Drag Boat Association races Sunday at High 


ft. n *t» A „ Jon Barrett, from East Peoria, HEnots. was thrown fron 
^ JMUUng LFUZ (209 kBometers) per hour during a beat of the Ameri< 

I Talks: Now to the Hard Parts 

<%■ AU Minor Issues Settled, but Strike Deadline Is Looming 


Point, North Carolina. Barrett then tumbled across the lake's surface, right, dragging an emergen^ 
parachute, as Ins boat disintegrated behind him. He was taken to a hospital, but was not serious!} injured. 


'Tub of Goo 9 Gets His FatChanceon TV 


:c^ t <** AU Minor Issues Settled, bill Strike VeadlmeJ^ Loommg 

7 Tit Asfoaaied pna solved such mainly non-cconomic League Players Association, which 

•*-^Si al ' NEW YORK— With one week matters as waiver procedure and has set a strike deadline of Aug. 6. 
’iia* s^,'-r remaining before a strike deadline, spring training operations. But still to be settled, starting 

j-\tua major league baseball’s players and “We will try over the next 12 to with Tuesday’s meeting, are agree- 
•’‘H'.tiov owners finally have cleared up al- 18 hours to get than down on pa- men t on splitting up a $1.1 btuiofl 

• .-i-i, h most all the so-called minor issues per and, beginning tonxwrow after- network tdevison package, a com- 

... and are ready to tackle the real noon, well go back to the remain- promise on salary arbitration and 

. ■ problems that separate them. ing issues," said Don Fehr, acting an onderstanding on the bee-agent 

Y^-- On Monday, tee two sides re- executive director of the Major system. 

- "* T| * ^ ^ w m __ ^ “S evai or eight days is enough 

ttme,” Fehr said. “It’s not a lot, but 

SCOREBOARD it’s enough. Whafs happened, 1 

' - ■ ■ think, is that, given the fact we do 

^ vjji" Baseball have a strike deadline, the parties 

are, in a workmanlike fashion, txy- 

• ing to reach an agreement on all 

• Monday’s Major League line Scores dungs we can.” 

. - t - AMB,C*W LEAGUE and Bronlv; WM Nowrall (7). ^ m StiO Optimistic.” Said Lee 

- mm Yart rw on mm w • *w mo r«M*r. w-KMAt-L L— aiu*. j-t. MacPhaii, president of the owners 


, : :• v' rf< -^caS 

• --‘■■.Jit 

v - - ’ -■JaJcT' 


SCOREBOARD 

Baseball 


Monday’s Major League line Scores 


s. ■ t — . AMERICAN LEAGUE a™ Brail 

'*'*♦ NfYat mom 30-4 ra • Wewir, 

- y.-,^-r IMsd BIT M OBfr— 1 « I NR*-«an 

* WbltsoiUUBftattl (SI and Ham; Blylevea I12L 

,„i 9 •: Easterly t*l and Willard. W- WNtun. M. 

~ p » L-AMnwn. Ml. Sv— Rhrtwttl (It). HRs — . _ , 

. . MwYorH.WWWd (Ml. Cleveland, Jacoby IVlajni 

' k ‘ 'i ())). J 

: Tomato WINHIM 9 t i 

'~^.= BoKhnom KUWMM I I 

Key, Hanks <V) and Wtifff; Boddlckar and 
■' ' tb Dempsey. W-Henka m L — Boddlcker. IS- Toronto 
.11. HRs — Toronto. Upshaw (Ml. WMn (13), Now York 
.Gwcto (4). Battbnorn, Lvnn 1 171. Rayford Ml. DetroH 
> HO TOO IBS — 3 S 1 Boston 


and Branly; Watch, HowoK (7). Nledanfunr 


The Associated Press 

NEW YORK — Teny Forster, the Atlanta 
BraveS* “Fat Tub of Goo,” got his opportunity 
Monday to face off with the man who gave him 
that nickname, television talk show host David 
LettennaiL 

During a recent monologue at the start of NBCs 
“Late Night with David Letierman," the comedian 
said he had seen Forster, a rotund left-hander, in 
action, and made several cracks about the pitcher’s 
expanded waistline. 

“My first reaction," said Forster, “was that this 
guy dogged me. I’m going after him and I'm going 
to sue mm. And then after I took a shower and 
looked at myself in the mirror. I said, no, the guy’s 
right How can I sue him? 

“You know, 1 haven’t always been this big. It 
just snacked up on me.” 

Lettennan said he had second thoughts about 
his comments. 

“It just started out as kind of a joke," Letierman 


said. “Then I’m driving home and I thought to 
myself: now wait a minute, I just veal on network 
TV — or at least NBC — and I called a man a fat 
tab of goo. And regardless of how funny or not 
funny a person might think that is. if you sun 
thinking about it, that's not a real flattering thing 
to say.” 

Letierman brought out two baseball cards, the 
first from Forster’s 1971 season with the Chicago 
White Sox. the other his current card. Both cards, 
Lettennan noted, showed Forster’s weight as 210 
pounds (952 kilograms). 

“It’s amazing what a little money will do for 
you.” Forster said. 

“I weigh probably between your weight and 
Jumbo the Elephant .... Tm probably doser to 
the elephant's weight right now. I know there's a 
couple au our team aho are close. I can’t mention 
any names. They told me if I did they’d never, ever 
catch a ground ball for me again.” ’ 


Blue Jays Add 9th, 
May Total a Division 


Complied fr Our Staff Fmm DispJiAxs 

BALTIMORE — While the To- 
ronto Blue Jays may not be ready 
to celebrate, the possibility exists 
that tbev clinched a tie for the 
American League East Division 
championship Monday night when 
they beat the Orioles. 4-3. in 10 


BASEBALL ROfND l P 

Keith Hernande; Joji-k - •• 
runs to help beat Mor.ttea. v 
York. 

Dodgers 10. Giants 5. V„:; 
Duncan hit a ba»e>-!.vd.- 


innings to increase their winning during a seven-run s\:!l tfu: 
streak to a dub-record nine. San Francisco in L«> _r.d 


If this were late September, the 
magic number w ould be one. mean- 
ing any victory by the Blue Jays or 
defeat by the New York Yankees 
would give Toronto its first title in 


San Francisco m L* % ' V.c.vc- i : .i 

gave Bob Welch h:> xv.h 

tive triumph <•.!/* i?l: 

U Martin Back in Hospital 
The New York Y anker 


MHtooakM maWBIto-3 5 1 Sommoro 

HOuob. Harris II) and Bmmmar: Hlouafa MltwauJu* 
akISctiniiKtor.W — HlooaraB-4. L — Houah.9- Ctovstonil 
11. HR>-T«cafc O’Srlan 113). Milwaukee. 

Yootit til). CofMomto 

Knot dtv N2MNM 7 1 Kamto City 

iDefraa MO Me m— 2 I J Oakland 

Saecrtiagaii Qutaenbafrv (») ana Sund- CWcooo 
Day; Prtrv ana Parrish. W— EabartiaacalS- toottta 
S L—Perry.ll-HL HRs— Kansas CtTv.BaJbonl Mliwaaota 
i»l. DaArali Parrish (13). Tarns 

Mlaacsato SM M2 710— 4 11 I 

SaaMto ‘ m 111 SB*— I IS 1 . . JUT 

vloia. Lvsanlar U), Eutomto (7), Fllaan <7t, 

Davis III and Loodnar ; Youna. Nunez (71 and 
iwarney. W-Nimb. 5-1. 1 — Eutomla. >1. St Loob 
HRs— Mlonesata, Enota (4). Puckett (3). So- Maw York 
attle. Thomas a 121). Handaraan (fl. Montreal 

NATIONAL LEAGUE Chfawo 

MlMTWd BQ0 saa BBS-1 S 1 Philadelphia 

New York 3M am OOs—I » • PtttstoirWt 

SmHtb Lucas ID and RtznecokL Butvru 
II); AauUsns Orosco IB) and Carter. W— Las Anaaios 
AOUrtensS-lL— Smith. 12<5v— Orosco (11). San Plano 
hr— M oritraoL Wolloen (*). Cinciiinntl 

5m Francisco Ml Hi Ml- 5 9 1 Houston 

Los Anodes MS H7 Ota— w IS • Altonto 

CMuaiGorreifi is), joffaat (7>.MOavfe (I) So" Fronetoen 


51 47 315 llMi 
42 54 AS 1* 


Wad DMstoa 

34 42 J77 — 

S3 44 MS Tfl 
SI 47 sa 5 
41 47 JDS «« 
47 52 /7S 9te 


Major League Baseball Leaders 


» NATIONAL LEAGUE 

G AB F 

McGee SIL W 152 A3 

GuerraraLA W J1A 71 

Herr Sfl. «S 351 51 

TempMn 50 «5 3M M 


AMERICAN LEAGUE 


* i, CDfH , Porker Cln 
^*30 Gwviei so 
Orator On 

^ i Samfcero Chi 

» rr I Rotnes Mae 

is . Doran Htn 

* Hwuuudra NY 

» ' i Homer AH 


G AB R H Pa 

W 352 Aim ms RJtondsan NY 

V0 31A 70 KM XB Bran Kan 

<5 354 57 US J25 Boobs Bin 

<5 3M » 99 30 Law BN 

<5 J74 47 1« an WWtokar Oat 
N 3U a 1U ax Gadmon pen 
07 XB 32 6? OS7 MamnutV NY 
<0 1A4 44 KB asn Molllor MU 


<4 342 71 107 09* 
<3 347 « KJ7 39t 


PJBradlay Sea 
Cooper Mil 


*4 349 51 TO jm Rons: RJtenderson, New York.M; Rlpkea 


hrs— son Frandsew Green ai, Loonani pj a y Cr Relations Committee. 
'”*■ “We’re ready to roll up our sleeves 

»nd go to work. 

Major League Standings “But I won’t say there aren’t ma- 
american league jor hurdles. We’re not halfway 

earn DtvMin • down the homestretch, we’re still 

w l prf. ga on the far turn.” 

JZZu S 2 jo 7 There bad been little progress of 

DetroH 52 4s 534 <te any land since the two sides began 

Bo8, ™ , “ j? * meeting last Nov. 14. And w&Oe 

42 54 ax w MacPhaH and Fehr were pleased 

so <7 jo* 3ite with Monday’s two-hour meeting, 

they cantkmed that the remaining 
a <u j44 2 te items were the ones that would be 

SI 47 530 5 til* moot difficult. 

47 52 475 Ste “If there was pang to be a strike, 

45 52 mi iote it would crane over die major is- 

3< 40 JH 17% saggw Fcfcr -j think every- 

l league body understands that there wasn’t. 

ever going to be a strike over these 
n n S - (minor) issues.” 

57 m jo s Said MacPhail, “Granted, h’s 
« « {£ L. “aer to deal with these things than 
44 S3 AS4 15% the things ahead of us.” 

31 45 J23 31 And, on those major issues, there 

D4yto 57 , 40 5BS - has been no headway made. 

S3 46 s The players steadfastly demand 
« £ S i?* their traditional rate-third share of 

43 54 ag i4 network television revenne for their 
» si jm i<te pension fund. Whh the recent SI. I 

trillion d«d, the one- third share 
would leap from $15i milli on per 
year to 560 miffion. lie owners say 
M PCL they will compromise, but ada- 
e sat I? in js 3 mantly say one-thiid is too much. 

«[ » S tit m ^ 0WDers ' 00 A* other hand, 
«7 £ % M so w 8 ” 1 to restructure the salary arfri- 

<3 m 7i m Ji7 tration procedure. They want to 

m ^ x jt 7 j» increase the amount of required 

tla Z 114 jw service from two years to three 

*4 3M S3 117 ju years before a player can file far 

aririttadrai, ana want to limit an 


.NATIONAL LEAGUE 
EON DMaioa 

W L PcL GB 

SLLoab 59 37 A15 — 

Now York 57 41 SB 3 

ManlTaal 54 44 JM 5 

Ottawa 51 46 504 fte 

Ptilladalplila 44 S3 ASA 15% 

PHtstJuriUt 31 45 J22 * 

Wart Dtototon 

Las Angola* 57 41 JR - 

San Diana 53 46 533 5 

Cincinnati 51 45 J3t 5% 

Houston 45 54 ,455 13 

Atlanta 43 54 .443 14 

Son Francisco 3* 61 JM 19% 



end the season Aug. 6, these could mgni 10 nave ms panemre- 
be the final days of the race. ■ lun 8 treated. The 
The Blue Jays. basebalTs holiest reported, 
team, and now 10- 1 in extra-inning Martin was being created vr 
pamf-c W on on D amaso Garcia’s back spasms Sunday when a r red/.* 
home run in the 10th. The\ also got used to administer ^r. 
homers from Willie Uwhaw and punctured his iunc. 

Ernie WhitL “We’re listing Manm ut acx>j 

The Yankees, the only AL East condition right now. but he r!jj> ic 
tram with a chance to tie Toronto hospitalized until the weekend :-*r 
before Aug. 6, beat Cleveland to observation and rest." said ar, Ar- 


remain seven games behind. 


lington Memorial Hospital *pok=- 


Ttae other magic numbers to the woman. Carlene Ness. ‘ He ascas 
strike date are two for Los Angeles to be kepi quiet. It might not iv 
in the National League West, five until Friday before he is reic->id. 


for California in the AL West and “ order to 
four for Sl Louis in the NLEaa. wound tune to 
“He hung that pitch." Garcia "He caimoi 
said of loser Mike Boddicker, 10-1 1 “That could 


ve the puncture 


"He cannot fl>." said Ncm. 
“That could be dangerous He 


and a loser in 10 of his last 14 needs lots of rest and quid, 
dedsions. “It was sud nosed to be a -foe Safety, the Yankees' 


derisions. “It was si 
slider. 1 saw it, and 


Joe Safety, the Yankees' meeiu 
director, said in a statement sssueJ 


Upshaw’s two-run homer and in New York that Martin v.jv cn- 
Whitt's had given the Blue Jays a 3- anrined Monday by a rc*pjra»-r> 


h; , :'2. 




in the second inning . The specialist, who said the iung >a> 
countered with homers by “25 percent collapsed" as the result 


0 lead in the second inning. The 
Orioles countered with homers by 
Fred Lynn and Floyd Rayford. 
Yankees 8, Indians 2: In Cleve- 


of the puncture. 

The injection was given b\ BJ 


40 39 >4 113 


S3 117 J83 
45 112 JQ2 


W SES*^ 


m BaHtmore, 73; whitofcar. Detroit. 7t ; Moitfor, arbitmtoi’s award to amount DO 
MUrawkea. 4i; EJAonw. Bowmor*. 63.- larger than twice the player's cur- 


■.mMEtawNto la rgw than twKe the player's cur- 

ai. 71; Gwrrara Lra AflM 70; Calaman, Salary. The players Want 10 

”imVi , Li!T l Sr^ “v, , „ B^orrJr^TT ^ leave salary arbitration the way it 



land, shortstop Julio Franco boot- Mycoslde, the Rangers team 
ed Dave Winfield’s seventh-inning. «> r who is a close friend of Martin’', 
two-out grounder to allow Mike araf his personal phystcun when he 
Pagtiamlo to score the tie-breaking is in Arlington. 


Pagtiamlo to score the tie-breaking 
run for New York, and Dan Pasqua 
followed with a two-run single. 
Winfield homered in the ninth as 
the Yankees scored three times. 


■ Sutcfiffe May Be Finished 
Rick Sutcliffe has been placed en 
the disabled list ior the third :jik 


Brewers 3, Rangers 2: Ted Sun- this season and the Oucago Cubs' 
mons’ tie-breaking angle in the star right-handed pitcher tray be 
eighth in Milwaukee made a winner out for the season. The Associated 
of rookie Ted Higuera. who pitched Press repotted from Chicago, 
a 12-strikeout live- hitter against The team’s president and general 
Texas. manager, Dallas Green, said Mcct- 


RBI: Mottlnalv. Now Yark,7l; BMurray. , , - .. .- . 

saHfmora 77 ; Riutoft Bafnmccr.gr; Kant- leave salaiy arbitxauan the way it 

ran. citron. AS; Rice, Boston, 4& is. 

HHs: Boom Barton. 131; Wllsan, Kansas 


h; , : ? tti G.wibon. PMkxtolPMo, 44. 

HRs: McGaa,gjLixils,119; GwvraLSanDla- 
a; ‘- oo. 115; Harr. SU^ais. 115; Porker, andn- 
< •“ • - oatt U2J Sandberg, Chloaso, KM. 




Tony Fernandez, the Blue Jays’ shortstop, leaped oversfidn 
double play against Orioles. Toronto won, 4-3, on Damaso < 


; Lee Lacy after throwing for 
arrin’s homo' In 10th inning. 


Balboni hit a two-run bonier as initially incurred a paruc! (ear of 
Kansas City won its eighth straight, his lef t hamstring on M^v m 


closing on idle California. 


Atlanta, then strained an utiduc 


Cltv. 123; WhHokor. OotroK. 121; Garda To- 
ronto, 119; Puckett Mlnnosota 119. 

OauMas: Matttnolv. Now York, 31; Buck- 
iwr# BostotLtt; Boos«r Bostaru^ft; G.W0IMV 


^®*^®** ^WlfldV MOCVtTROL 2&S Hainan- niliwm V. r ppnM aallum ,tf— Ed ■ RnoHl 
dra.NawYwk.ZI; Harr^Lamj.23; 6 or. lied MUwai * a *' *• G °^ 1 ' 

'“tw*: «■—- n- RfliM.. Tildas: Wltoan. Kao** a tv- 13; Puckrat, 

•SMS+A 

Detroit, 22; G-Themas, Saama.22; Klnamaa 


Lessons From the Past for Soccer’s Future 


LONDON — As with life, soccer ing waistbands and receding hair- 
is a journey between innocence and lines did not rule out glimpses of 
infirmity. Professional sport accd- framer greatness on Sunday. 


fashion and another hat-trick won took place when the national side 


the day. 


was beaten by Hong Kong, city 


i Stolen Basra: Cotofnan, SLLauh, 49; 
^7, MeGca, Smuts. 38; Ratora. MontnraL 31; 

aweaoo, 37; Redra. aartmwtL 3L 
'■) ; ■ PITCHING 

' VNM I lllinRIaulM Pct/ERA Q dad- 


Stotoa Baca: (LHaratarun. Now York.44; 
WtUan, Kansas aty.31; Buttar,C3evoft»S, 31; 
Pattis, California. X; Collins. Oakland. 25; 
Garda. Toronto. 25; A4oeet> y, Toronhu 2& 
PITCHING 

Woe- Last /Wtaatoa PctTERA <1 dacJ- 


eraies the process and sometimes 
turns it on us head. 

This week began with a nostalgic 
renin of the 1966 World Cup final 


Rain slanted relentlessly ac 
the playing field at Leeds. The 


Old man Moore took the replica officials have announced that a 

ti Irirarai it and handed it tn the soccer crowd’’ would tfuee iuts over 7 1/3 uimngs and get s a winters rest. 


£■ Uto»»): Franco, CtodDnotL 9-),. 9M.2JI; Goo- rtoni): Guldnr, Now York. 13-1 AlX2J8lBlrt- 


■( dm Now York. 15-3, J33. 1 J4; Hawkins. San 


b0aktaM74, J7SJ.12; Romankk.Cotlfor- 


^5*2 'l 3 ^.* a,Z111 Ana "ta r - s, -Lout*. T7-L nta. 124, 050,294; SoAartiagw i . Kamos at y. 
JIB 2JT; Harratow, La* Anartas. ll-L JBL I2& JOA 285; DAAooro, CaBtorala. 7-3. JOOl 


Strikeout*: Goodon. Maw York. K3; Soto, 


Onrtmiatl. Hi; Rvan. Houston. 13S; vaian- rts. DatraH. 121; FJtamtater, CMcasOb 114; 

raUci.LaeAjiaatos.l34;Ji}aLaan.PlttBtkNWb Bum Orieaaa. 113; Witt. CatHorala, 105. 

Sara: Quuanborrv. Konoo* dtv. 23; Har- 
tom: Raoraon. Montraal. 25; LaJmlth. nondoz. Detroit. 30; jjtowoiL Oakland. 31; 
22; Castam San Dhocttv Powor, AMoare. CoHtorato, 19; RIbNoW. Now York. 
OnctanaK, M.- Sutter. Atlanta, 17. It 


Sh tfcooo to : Btvlavan. Oavatond, 129; Mar- tier- 1 6 WOlU tOUTDamenl W3S to 
z. DatraH. 121; FAraWer, CMcasOb 114: bfiSin in China. 


Transition 


renin of the 1966Worid Cup final ROB HUGHES mans, drawn together in tragedy 

between England sad West Ger- ^ slippery. More modem profes- shar ^ ^ “ 

may. Then, on Wednesday the noJg^Sost assuredly wuld 

Federation of International Foot- ^ bem excusing thrir lack of .7^ ^^ > ^ berocs ’ 
baD Assodatwn’s (FIFA) new un- mfi ^ ^ said Alan BaJ. “Betkenbaner go 

der : I6 wrajd tournameni was to B nt not Uwe Seder and not 

b^nm China. Geoff Hurst, not the still decant brought kids to show us to than. 

Before the schoolboys of 16 na- bSSw mSc w FraS^SkS- .^gone talents of bygqne d^ 
tions lock a ban m Beijhig. Shang- not the extravagantly gifted with bygpne values. Even Bdl,tb 

bai, Dalian and Hamm. Tm pie- Wdfhang Overathra Botoy Sari- nearesL - soccer s y^tatia 
pared to bet that few of them 3 men, to the spoiled winner leaden 

w to For Seeler, a stocky and inddati- 


across cup, kissed it and handed it to the “civilized soccer crowd" would 
be ball mayor to promote excellence in watch the competition this week. 
Bradford. Englishmen and Ger- We must hope that the boys, with 
mans, drawn together in tragedy, their first experience of the pres- j 
shared their lap of honor. And the sores that Beckenbauer and com- 1 


Mariners 8, Twins 6: Gorman muscle in his left leg and incurred a 
Thomas hit two homers and Dave sore shoulder, which forced a *rc- 
Henderson ended a 5-5 tie with a ond slop on the disabled b*!. 
three-run homer in the seventh that “It’s unfair to continual:*, asl 

beat Minnesota in Seattle. Thomas Sutcliffe to come back and :rv 
has hit 8 of his 22 homers since the Sometimes he's cot more hear: than 
All-Star break. sense." Green said. “We kr.ow ih^t 

Mels 3, Expos 2: In the National the leg is not going to heal properiy 
League, Rick Aguilera allowed until the end of the_>ear. until he 


crowd applauded them afl. parry have shed, also behave. 

“They came to support heroes,” Telling J 5 -year-old Hugo (Hu- 
said Alan BaH “Beckenbauer got g^ P ) Maradona that it is pennit- 
an unbelievable rec^ition. Fathers ^ show the cVill but not the 


KANSAS CITY— Rood Buctov Bionca- 


runnlns bock, will bo on the inlurad iw tor _rn 
tour to six weeks. wui uic J 

GREEN BAY— Cut FOiix McOowoff. « oM preSSOK 


■ *e sdxxilboys of 16 na- Moore or 

dons lode a ball m Beijing, Shang- baner, not the extr 
bai, Dalian and Tianjin, Tin pre- WolfRaneOverath 
pared to bet that few of them ^ 
exhibit the unrestrained joy, the For Seder, a Sloe 

spirit of the game for the games at ^ 

sake, of the oW oocks of ’66. Slight goal wa 
Kids being fads today, not only 
wffl they fed that they are under sraesor kki ; 


nearest, among soccer’s yesterday ^ history, 
men, to the spoiled winner tenden- personalty, though I quite see the i 
cy now often seen in tennis, was th e point of a junior tournament help- 
perfect sportsman. And the crowd [oe to bring China in from thecold , ' 


BlancpaiN 

f I 

J i*~ : ’ f 

/ r • 


LA. RAIDERS-Erteojod Aid) CWBPboU, tiie prqjectiGffl 


a on tha 15-dav dbatiM list. tmL on) Alvin WBlker, nmol mi bock. 

A ^ ewI * d Jhn Scrtmloto Infiektor. From Omo- KANSAS CITY — Slonad ArtSKILttot«nxlv«f 

V ^ Am * rlCQn AuodattarL end. 

,V. _ OAKLAND — Anraunrad Stiea Carnev Low- la. RA;o£RS — fteteued Rich Com 

;'i BWd buwifun, sutterad a troc to rod auartarback. 

s’’ * rttf ®nd will be out for two MMtub LA. RAMS— Eric DRfcaraoa running 

WfflloBOl l 4 ww nM notyairoportodtotrcrtnlngeampaei 

> •Wntreal— S toned MlfceAhtome. ottch- oi contract dBpvlaL 
y ^^rartaraxjnkntoJomertoumolttwNuw MiAMJ—AnnauncadltiotOon Struck. 

, - '“'-Penn League. tertxick. singed o two-year emtrect. 

.. NEW YORK— Optioned BIO Lattwjn. rtlctr- NEW ORLEANS— Dermto (Dull WH 


auartarback. 

LA. RAMS— Eric DKfcamw running back, 
has not VW roportod to train Ing comp becoura 
ot contract dispute*. 

Miami— A nnounced Itiot Den Strock. quar- 
terback. sinned a two-year contract. 


ests — Eastman Kodak, the tour- 
nament’s sponsor, is a new partner 
in FIFA’s money go round. 


Then, the pace ebbing, the En- 
glish overhauled their rad foes to 
win. 64. An automobile insurance 
executive repeated a feat unique to 


■; UWDUO. tarcocfc. sinned a two-year camract. l;« « knu rfuwwn af tin* inr^mn. 

5 : : I BEW YORK— OfA toned Bin Laltvun. Ptldv NEW ORLEANS— Oom Is (Olrti Winston, bit. aS A DOy CflOSCT 1 31 tflE mtcnia- 
:■ f'^TWtwciteroMtto IntonwticwH Ltogya. linebacker, left training camp to kdn Jim Ko- tionaJ SCfaOOlS fevd OSS, and as any 
' - ’■ ' Gordenhlre ' WWdar, tram wgdw Hn wcker; betti ore hotobig out over ^Orid CUp finalist has, JOU know 

■c f ■ basketball ^NALGiANra^MoMd jimcoiquw.ount- that no game is without ulterior 

’ Nattoaol BatkstbaU Association er; Lorenzo Boutor, runolna bade; Loon Gw- motive. 

y_ ^ «<UVAUKEE—Vtolv»dOuenrto Anderson, den and Ratob Battle, datonsfve bock& and . . 1Q ^ __ 

v and Vince Brookins, guard. Wcfcy Chawnan. linebacker. The ICmatCh Ol ItoO Was ar- 

t* FOOTBALL PHILADELPHIA— Announced that Resale nUUffid tO raise funds fOT dfflen- 

& ■ j C«Mtoa Football League Wilkes, Unabacfcer. rooefte d agraa tnem Moo- T h» K wrta tors failed in 

TOROWTO-Ptoratf CdndredH HoHowoy. uav an ftree gneiw contract*. j 

, ' q Vraie»bodt, on toa 4Brtav Inlurv list. ST. LOUIS-walved Herman HoUowav. toe BnJQlOrd StafllUm ure May U- 

V’t 1 Nnttenol FoottwU Leogag running back, ond RalahCkrt ond Oan Wto- Ttu» entire FugHsli team and nme 

. — V -ATLANrA-Reteoeert Luis ZmkMpa kick- denbotf. offensive lineman. Announced the r*- - nhiclhpir retired t rainw 

r*lHk*utm#iyn or* Alvin Want everts; iraw of Terry SHewa, guard. Stoned ^ MU GamanS; plUS toeff lEUrea OTinCT. 
C? rr °cey Mock. Unabocfcer; Mrlvtn Dean, car- Griffin, ttotonslue bock; Corks Scott, niton- Helmut S COORB , agreed tO the re- 


When you have been around a 

it, as a boy chosm at the mtcnia- Nineteen years ago, almost to the 
onalsdw^ level has, and as any day Hurst, Lteo a novice interna- 

IfoJJ rw FratnliGt hao UAH WiAttf . •' . . . * « 


English city described this week as qmqi, with additional burdens of 
“posing just as great a threat to dimate during term 

society as organized crime." time, general secretary, Sepp 
But past is past, as some of the Blatter, wrote last fall that “it can 
mm charitably reminding us of it be said that nowadays pamdpa- ! 
on Sunday have found m their har- tkm in international tournaments 


rracey Mock, llnabockar; Melvin Dean. cor- Griffin. CatansJuo back; Corks Scott, afton- Helmut S COORB , 3gref 
:> Oan Walker, lUdir end. ana MkbaeJ rtva Itoamo n, Aik) Uoua Marsh and Grog U>- ynatrh wi thin hrnirs rtf hriltg asked. 

Ota. Jouron assistant F Sn 'FRANOSCO-watvaa joftn Mazur. “Bl^ford TOS a tf^^Twyond 
RadL Waived AT wanglKunvekLliiHtaacter; auartartaek; Hasan AbaulMsn. a uroar; wOZOS, Said rinnZ BeafiUOauer. 
ran** Hororovo, rvnning bock; Mika Lea- Jamas Brown, dafansive toekia; Lyndon “J, Jc up to eVCTYOOe in football 10 
J »p» tottbock; Garry Qvhilivan. Ilnabacfear; . Brown, safety, ond Vvn Goodma n. Mcn rtn n ™ 

. .... ^HooEdMenelve bock, and Anthony Gul- jrakmon and RavoMnd MWVta, llnabaekara. Dap. . 

if* 11 ,/v' >, wide receiver. TAMPABAY-PfacedLeeRoy5eMWl.de- & it WSS. Kathattoe HepOUZU 

■ j '5 *' .OIICAGO—wiiHainParTV. nme tackle, bos tensive end, on Ini urad reserve. Signed Mike ju* aCtrESS. Complained recently 


tiraiaL became the only player to menL it the game is to survive it is youm pay** ^ 
score three times in the Worid Cup up to this generation and the next, and stress of travel has been re- 
finaL Al Leeds, the years rolledoff «*id) brings us back to Chma. duced thank* to fast connections as 
him, the cheeks blew out in fumlur Them, followinE ihe nm Hat i( must 

' ~~~ " T 7] 7 be all right? It used to be for leaders 

Lemaire Ouits as Canadiens Coacn » set policies that guided yotmg- 

x sters throu^i our game. 

MONTREAL (AP)~ Jacques Lemaire has resigned as coach of the To that end there could be no 

Montreal Canadiens and was replaced by his assistant, Jean Perron, the more fitting or thoughtfully de>- 


°™*- wtito noriver. 

BUFFALO— Named Diefc Jauran assistant 


Fleur, Itatit ends. 

SAN FRANCISCO WOlvad Jann Mazur. 


“Bradford was a 


National Hockey League dub announced Monday. signed prize than the Kodak Cim 

Serge Savard, managma director of the Canadiens, said Lctnaire would .-waiting the winner in China. It 
slay with the team as director of hockey personnel l e mair e, 39, had resembles a shoot unfurling into 
succeeded Bob Berry as coach of the Canadiens on Feb. 24, 1984. fall flower aroand a globe. A beau- 


succeeded Bob Berry as coach of the Canadiens on Feb. 24, 1984. 

l hdn ” “In life you have to do something you like and fed good and eqjpy," Munvic 

i. £ it was. Katharine Hepbuzu said Lenran “When I went home to relax, whether we won or lost, I that,onehopt5,theyomigwmhave 
B the actress, complained recently couldn’t idax, I kept thinking about what I should do to win the next as much fan reaching out for as ihc 
,, about the of “selling game. Tm not saying it’s too much pressure — tfsjus a thing I don't want class of 66 displayed tn reaching 

«- . .. calf " «*i wm) en_ tn Hn " back. 


foil flower aroand a globe. A 
tiftd, protective bronze sea 
that, one hopes, the young w3 



JJ- ‘^iNmnnerfad to trafalngcuma because s( Zclv. rtatonstva and 


wraa Aautos. 


WASHINGTON— Stetod Mark WstMct, 


DENVER-Ajuwufteacf Sammy Winder, kicker, to a serin uf ene-yeor cMroOX one's deteriorating SdL" yet WldeD- 


h'orologists 

1G KOI Bast SRC Maxtor loodw W 
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EiTERNATIONAL HERALD TRIBUNE, WEDNESDAY, JULY 31, 1985 


OBSERVER 


Who’s a Cheapskate? 


By Russell Baker 

N cW YORK — There’s a 
men’s shop on Fifth Avenue 
that won't let you in unless yon 
have an appointment. It employs a 
doorman to keep people out This 
i is famous for its stupendously 
_ (prices. 

A newspaper article cited some 
of its prices for suits and shins. 


for Christmas can read these prices 
without feeling faint so to protect 
die infirm I mil not reprint the 
figures here, 

second thou^its. Hiring a doorman 

to keep people out is really a decent 
thing for a high -markup merchant 
to do. 

Slops like this thrive on custom- 
ers' neurotic fear that salesclerks 
will think they are either poor or 
cheap. I heard about a successful 
actor not long ago going into a 
fancy delicatessen in shabby work 
clothes and a two-day whisker cov- 
ering. He wanted to snack on a 
little sturgeon. “How much is the 
sturgeon?” he asked the counter- 
man, who obviously didn’t recog- 
nize him and just as obviously 
thought he was an impecunious 
bum. 

“Twenty dollars a pound,” 
snorted the counterman, as only a 
New Yorker can snort at an over- 
reaching phony. 

TD take a hundred pounds," 
cried the actor, half mad with the 
need to let the counterman know he 
wasn’t too poor to pay through the 
nose. 

□ 

As this story illustrates, a great 
many shops simply don’t want 
their aisles cluttered with people 
who recafl at extortionate prices. 
How do you keep die inexperi- 
enced shopper out of your place of 
business? 

The most civilized way is to post 
a doorman who says, “Eio you nave 
an ajTpomtment?” This lefts you in 
the nick of time what kind of store 
you almost gat yourself into. A 
store where you’re expected to have 
an appoumnent is sure to be a store 
where, if you accidentally got in 
without an appointment and asked, 
“How much are neckties?” some- 
body with a sneering lip will say, 
“Most of them are 52,000 apiece, 
but for the occasional El Cheapo 
who sneaks past our doo rman we 
have a few at only $1,500." 


either have to 
shout, “HI take two dozen!" or 
crawl out of the store on hands and 
knees while customers who can af- 
ford appointments discreetly make 
notes to blackball von if yon ever 
apply for membership in the Rac- 
quet Club. 

Hiring a doorman is a civilized 
way to prevent these humiliations. 
I could mention sane Fifth Avenue 
stores that are much less polite. 
Their method is to ignore anybody 
wbo looks like a petty spender until 
he notices that none of the goods 
have price tags on them, gets the 
idea and walks out 


ibering all those bdutiepe 
lerks wbo were under the un- 


wa'Tbaffled^be first few times as 
so me of the most outrageously 
priced boutiques of Fifth Avenue 
tried to insult me. My first thought 
was that they were trying to enter- 
tain me with humor that, though it 
seemed crude to me, was probably 
all the rage in their native Italy. 

So I faked a hearty laugh at re- 
marks tike, “If you’d use the same 
polish on your shoes that you use 
on your trousers, you might not be 
such an eyesore.” 

Friends skilled at shopping ex- 
plained matters to me. Naturally I 
felt terrible then. It was 
rememl 
salesclerks 

l that I ware a shiny old suit 
I couldn’t afford a new 
one: 

I decided to go back to each 
shop, find the dene who had insult- 
ed me gy plain that, while f 

could easily afford a new suit, I 
pr e f er r ed to go an wearing the old 
shiny cma rin» X didn't mind being 
caught in the rain in a suit like that, 
which saved me bom the nuisance 
rtf having to carry an umbrella. 

My friends skilled at shopping 
urged me not to do this. The sales- 
people who had insulted me were 
not worth worrying about, they ar- 
gued. “What does it matter,” a 
beautiful woman asked, “that a few 
poorly paid salesclerks know that 
you haven’t much scratch and are a 
cheapskate to boot?” 

Her want was absolutely persua- 
sive. However, in case any of those 
people who insulted me happen to 
be reading this, I want tn«n to 
know that I can afford 100 pounds 
of sturgeon any time 1 want. What’s 
more, I am not a cheapskate, either. 


New York Tunes Service 


Stephen Crane 


Cache of Letters Provides New Insights 
Into the life of the Author of 


r Red Badge of Courage 9 


lOr 


By Herbert Mitgang 

New York Tima Service 

N ew york — a 

cache of 62 letters and 
material written by Stephen 
Crane — the New York reporta, 
foreign correspondent and au- 
thor of “The Red Badge of Cour- 
age," who left a small but lasting 
body of work before he died of 
tuberculosis at the age of 28 in 
1900 — has been acquired by 
Syracuse University from the 
widow of a private collector. 

Among the finds, in addition to 
Crane’s writings, are 32 letters by 
his wife, Cun , the demimondainc 
who met Crane while she was 
proprietress of a bordello named 
the Hotel de Dream in Jackson- 
ville, Florida. The couple lata 


riw- Ttwlcinji a living, can 
be found in the letters to Crane’s 
New York agent Paul R. Reyn- 
olds. Written toward the end of 
Crane's life, they offer a poignant 
example of bow a novelist at 
heart used journalism to survive: 

*T am going to write about a 
thousand or twelve hundred dec- 
lare worth m short stuff and work 
only cm my big book. In tire 
meantime, every hundred dollars 
is a boon!" Apparently, he was 
referring to bis novel about the 
Greek-Turkish war of 1897. “Ac- 
tive Service." which came out a 
year before his death. 


, «* 

'ii 

\ 



add depth and color to our esti- 
:ofCc 


mate of Cota and Stephen Crane, 
an a blunt 


Stephen Crane 


Money was a constant prob- 
lem: “Of 


went off to live in high, but impe- 
linEo- 


cunious, style on ah estate i 
gland. 

The collection was discovered 
recently in the possession of a 
retired U. S. Navy commander's 
widow in Hawaii and sold for an 
undisclosed sum. It is now bring 
examined for (he first time by a 
few Crane scholars — on a re- 
stricted baas without the right of 
publication — in the university's 
rare book room. 


course I am awfully 
hard up. You know of course of 

lacbcJ^They knocked meshy." 
This was followed by: “Let me 
know by wire as soon as any sale 
whatever is effected. I need mon- 
ey. Address Key West Hotel” 
And again: “When in Christ's 
name do I get any money?" 

By “enemy* in the following 
excerpt be meant the magazine 
and book publishers who waltzed 
him around, delaying publication. 


Among others, they entertained 
Joseph Conrad and Henry James. 
She wrote to Pinker, in separate 
letters: 

“He has a wine deala who 
threatens to serve papers tomor- 
row if his biH for £35 is not paid 
at mice. The wine m yp n™$ t be 
satisfied and Mr. Crane must 
have a change or I fear he will 
break down and we can’t have 
that" 

And: “Mr. Crane asks if it is 
possible, if you will send £100 of 
the Uppincott money. We want 

to get nhn to Bournemouth if 

posable among the pines for a 
time. Please send check immedi- 
ately. Tins is such a critical time 
now — every post delay win make 


and payment. Even jjayment for 


his temperature fly up." 
And again: “Mr. 


Crane is linked to Syracuse be- 
cause he enrolled in 1891 and 
hwiM known on campus as a 
shortstop on the college nine. He 
dropped oat after a semester to 
pursue a journalistic career in 
Manhattan and begin writing Ms 
realistic first nov«^“Magpe: A 
Girl of the Streets." 

The documents embellish the 
portrait of Crane as an ill-starred 
personality who struggled, with 
the help of Ms common-law wife, 
to get it all down on paper before 
be died. Crane comes amass as a 
brilliantly gifted storyteller who, 
more than anyone before or 
anrft was able to imagine the 
Union soldier’s Civil War — a 
war that ended before he was 
bom. 

AU. S. version, of George Gis- 
srng’s 1890s novel “New Grub 
Street," about a writer having a 


his stoiy, “The Blue 
held up. He pleaded to Reynolds: 

1 am all fuzzy with money 
troubles and last night a writ was 
served on me by a leading credi- 
tor. I must raise heaven and earth 
between now and the middle of 
February [1898]. I must have ev- 
ery penny that you can raise from 
die enemy. Go to Harpers and 
beg thwn for that £25. Ask fh<*m 
why they don’t print The Blue 
Hotel' and *Hi$ New Mittens’ in 
tme volume with The Monster* 
and then pay up like little men." 

Cora Crane kept up the drum- 
fire for her husband with letters 
to James B. Pinker, Ms British 


Pinker, how 
could you say to Mr. Crane not to 


dump too many short stories 
,fo 


upon the market for fear of spoil- 
ing it? This is a fatal thing to say 
to a writing man. Particularly to 
Stephen Crane. And how can you 
dunk so, with an utterly un- 
spoiled and vast American mar- 
ket?" 

According to Mark F. Warner, 
librarian at the Arams Research 
Library at Syracuse, “This is the 
largest private collection of 
Crane material* in existence. It 
includes some of Ms earliest pub- 


lished pieces, poems, presenta- 
tion copies of nis bool 


ns books, photo- 
graphs^ handwritten o riginals 


agent One reason why is that — 
fie Zelda - - - 


and Scott Fitzgerald 
(but without a Hollywood to 
write for in the 1890s) — the 
Cranes lived beyond then mean* 
On their estate in Englan d they 
employed a butler, cook, garden- 
er, onac hman and two maids. 


insured of typescript copies, and 
an unpublished bios 


biography writ- 
ten by' the late Commander Md- 
vin H. Schoberiin, who collected 
the Crane materials." 

Professor James Colvert of the 
University of Georgia, one of the 
first biographers to go through 
the collection, said: “The letters 


Thq fill in passing blanks about 
. his life and working habits. His 
goal was to write about 600 words 
a day but be actually did more 
than thaL In one of the feuers. he 
rays, 4 ! am working like a dog.’ 

“Crane was a man of high tal- 
ent and innovation. The Red 
Badge’ was Ms masterpiece and 
his stories — The Blue Hotel.* 
The Open Boat,’ 'An Experiment 
in Misery,* The Uptunud Face’ 
— are gems. Unfortunately, 
Crane threw away his gifts and 
died too young." 

Professor Stanley Wmhrim of 
William Paterson College in 
Wayne, New Jersey, said, “The 
coQectioawiUbeind&pensableto 
anyone studying Crane’s life." He 
ana Professor Paul Sorremino of 
Virginia Polytechnic Institute 
and State University, Blacksburg, 
Virginia, are now preparing anew 
edition of Crane’s corres — 
deuce that will be pi 
Cohratoia University Press. 

Sarrentmo. who tracked down 
the collection in Hawaii said of 
ins discovery: “As f searched for 
new letters, t kept coming across 
references to a Commander Scfao- 
beriin. 1 was skeptical about allu- 
sions to a Tost collection, but 
scraps of evidence kept turning 
up. Schoberiin starred collecting 
about 50 years ago, when Dane 
was an almost forgotten writer 
and not in demand. He obtained 
an inscribed copy of Dane’s *Kc- 
tores of War* for a bottle of 
Scotch. Schoberiin died in 1977. 
After many tetters to Ms wife 
wear unanswered, I finally called 
her and then, at the end of 1984, 
flew out to Hawaii" 

Mrs. Schoberiin showed Mm 
boxes anri foklexs containing nut - 
ter^ There were engaging letters 
to friends, artists and to his 
agents, letters from publishers to 
Crane, correspondence by 
Crane’s family ami photographs. 

“To Mis, Schoberiin,” Sorrcn- 
rinn said, “ha husband’s unpub- 
lished biography of Crane, which 
he had called flagon of Despair,' 
was equally important. She wanir 
ed to keep the whole coHoction 
together, and I suggested that it 
go to a major research library. In 
1949, ha mrehand Hart edited a 
bock on Crane for Syracuse Uni- 
versity Press and the library al- 
ready had an important Crane 
collection. That’s how the collec- 
tion wound up at the ex-short- 
stop’s university." 


PEOPLE 


Hudson Returns to U. S. 


Rock Hudson was flown home to 
Los Angeles aboard a chartered 
747 jet Tuesday and was earned or 
a stretcher to a helicopter board 
for the UCLA Medical Center 
Hudson. 59. went to Paris to con- 
sult an specialist in acquired im- 
mune deficiency syndrome, or 
AIDS, but became ill the ebs after 
arriving and was admitted to the 
American Hospital in the suburb of 
Ncuilly on July 21. His French 
publicist. Yftoob CoSart. said Tues- 
day that the actor returned to the 
United States on the advice of his 
doctors in Paris because his condi- 
tion was no longer compatible with 
treatment with the experimental 
drug HPA-23. used to inhibit the 
virus that causes AIDS. She said 
Hudson was treated with HPA-23 
ova a six-week period starting last 
September at me Percy military 
hospital near Paris, as pan of a 
research program conducted by 
physicians and scientists at the Pas- 
teur Institute, the Armed Forces 
Medical Research Center, the Pitie- 
Salpetri&re and St. Louis Hospital. 
To continue the treatment. Hudson 
would have had to be transferred to 
another French hospital, she said. 


Former President Jimmy Carta 
picked Up a hamme r and nails 
Monday on bis first day of vacation 
renovating an apartment building 
for the poor in New York’s Lower 
East Side. Carta, 60, and his wife. 
Rosafymi, 57. are among 40 people 
spending a week’s vacation living 
at the Metro Baptist Church in 
Manhattan by night and volunteer- 
ing labor in the Lower East Side 
budding by day. The six-story 
building — where the Carters did 
basic renovation work in Septem- 
ber 1984 — is the property of Habi- 
tat for Humanity, a nonprofit ecu- 
menical organization based in 
Americas, Georgia. Carta is a 
member of Habitat’s board of di- 
rectors. His wife is on the board of 
advisers. 


u*!e. L. S. Professor of :fte Year. 
due partly :o h» abi::;;. v coscs-j- 
nseale. "I'm a hard aorker.” ti 
-id reciivnig the honor Monday 
T enjoy teaching and l enjoy & i-. 
ing ail a*.> research with the 
dents anti with the pub-iw." The 
new title from ir.e Council lor A£. 
vanccmertl and Support cf Educa- 
tion includes a S5.QGC award and 
the chance to lecture at die Strath- 
•union Institution on Oct. 21 dur- 
ing Higher EducS.u.T, Week. Bass 
also works with law enforcement 
agencies on murder and .sender,) 
eases in which bodies have decom- 
posed or been burned beyond rec- 
ognition. often taking svudenu 
along when he *.isit> a murder a 
accident site. One helps him exam- 
ine the remains, another taxes 
notes and a third senes as photog- 
rapher. Half of the approximated 
JO certified anthropologist* prac- 
ticing human identification in the 
United Stales are his forma stu- 
dents. 

□ 

Queen Elizabeth H Tuesday 
knighted David Attenborough. 59. 
the writer, broadcast and ruturalw 
whose television programs "Life oa 
Eanh” and “The Living Planet" 
have been shown worldwide. The 
honor is the second in the Atten- 
borough family. His brotha Rich- 
ard. 61, producer of the film “Gan- 
dhi” was knighted for his work in 
film. 

□ 

Jack Nicholson, rather than the 
film and Broadway star Mandv Pa- 
tfakin will play Mark in the Mike 
Nichols film “Heartburn.” based 
on Nora Epfarou’s novel. Men I 
Streep is co-star of the film, which 


began production July 19 in New 
York. Pa 


Every year. Professor William 
Marvin Bass ID r om p s across his 
podium on Ms knuckles to demon- 
strate the mobility of primates to 
his students at the University of 
Tennessee in Knoxville. Bass.' 56. 
who heads the university’s anthro- 
pology department, prides himself 
on such attention-grabbing tech- 
niques and considers that Ms new 


York. Paramount Pictures Crip, 
announcing the switch in leads, 
said PatinJun left the production 
“due to artistic differences.” 

□ 

Bob Gekktf. who organized the 
twin Live .Aid concerts In London 
and PhDadephia on July 1 3 to raise 
funds for famine victims in Ethio- 
pia. is investigating the possibility 
of staging a major sports event next 
spring in Bir mingham. England, to 
raise money for the starving. So 
far. the Olympic decathlon cham- 
pion Daley Thompson and the Brit- 
ish world skating champions Jane 
Torvill and Christopher Dean have 
agreed to take part. 


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FOR SALE 


ANDORRA 


AMX3RIA (WESTERN 
owner jels 2-Corey v*a in very 

awdfton.co nM wgofe2aidBpa 

apertnwnft (anpuaotnately 65 4 45 
iqjn) largo solarium, balconies & ga- 
rage, overlooking the sea, 5 m 
from b*od\ in pne wood Priee= ttaU 
>an Lira s; 35011001)001 Phono 
039/879719. 


FRENCH PROVINCES 


SAlf= MCRBJHAN. St Tug&joL prop- 
erty, 28 ha. manor house. Carvud 


stones Lows 13th. Repan , 
- - ^ Wfaods. 


9000 fir tran. , . 

naton. 2 fall river. Present farmer, 
sngfe -Mould accept to stay cs care- 
taker. F550ndaSr details, iafonnv 
bom. picture!. crA (169^ 91 70 57. 


GERMANY 


SnOALCHANCEfa nveston, dovuL 

gen, in 





ITALY 


BEAUTBtit 730 SOM. 3 Storey *8o 

with outbuildings in 2JXO sqja. ptrt. 
Sunny side themvd ana a foot of 
Venetian Oofaniles. Certrd heofina 
TV, phone. Price taficn Lea 530 nf 
fan {about U5S25OD00). Wnse BaJtii- 
lana, Riviera Fdeoocpo 70/A Pado 
va. Ti 


T ek 049/34320 


SEAL ESTATE 
FOR SALE 


MONACO 


THE MOST BEAUTIFUL 
VILLAS IN 
MONTE-CARLO 

or® sold through 

AGHX 

26 ho Bid. ftinasM Charlotte 
GwfaMC 9*000 M 
Tefc (93) 50 66 00 
Tha 47*9417 MC 


PARIS A SUBURBS 


ST NOM LA BRETECHE 
SUPBLB PROFBnY 

217 sq jn. Iwng tpace. 

Private indoor MUtrunpod, Rnrah 
sauna, exerdse room. 1700 sqjn. port 
VH1Y HK3H QASS 
Fzaeorco nndafala 
COP. (3) 954 92 00 


NEAR MADBEME 


165 u^rru, + bdeany. charm feunge. 


efirin^raoot ~t_ J_ bedroom. 


742 80 22 


NBMLY SUR SBFS 

90 scpm-^rWine 3 rooms, Jfee gon ,^ 


>63 


280316 


MARAB nerr.Mu see Rassa In 176) 
centuor ssnac Al sn 
For sere. let 271 93 30 


SEAL ESTATE 
FOR SALE 


SWITZERLAND 


LAKE GENEVA 
MOUNTAIN RESORTS 


lovely apartments with i 
views of Ufa Geneva and 


mountau*. 


MorUruux. Vab^Vertw, le» Diabjer- 


eft. Chateau a Oex nev Gstaad, 
leysin- EzceOeot OpparfunMee 
Fer. Foreigners 

Prices from SFl23^XXl 
Uberd mo ftflogee at 6hX i 

"mania 


Ay Aten Repos 24, 

01-1005 lautarine, Swifteriand. 
Wb t21) 22 35 12 Tbe 251 *5 MfilS 

uedbUtad Sasce 1970 


LAKE LUCBINE 


In the world famous reeort Brumn at 
fee faine L u cerne we sel first dan 
c*jcrtu>oirf> & pvwxxats w0n OD urvor- 
■ )Ue view o«r the lafa. Prices from 
.180000 up to SR 800000. Mort- 
at few Sww irfaesf ratus. 
for far to fbragnetv 


EMERALD-HOME LTD 

DerMr. OV8S72 W ee e en SO 
TeL- CH-9 8-431778. 

The 876062 HOME CH 


LAKE GENEVA -I- LUGANO, Man- 

tr eu^Wfa s,Gstoodfagicin . Locarno 
/ Ascona & many famous mountain 
resortL mogorficenl hCW APART- 
MB4TS / CHALETS / VUA5 aval- 
ohfe tar fonagners. Big dogs. Pri ce 
from obouf USS li lQO. Mcxtgapes at 
m% meerotf. K ^U) SX. Tour 

Grim 6. CH-10CV LAUSANT'E. 21/25 

26 11, LUGANO 91/68 76 48. 


REAL ESTATE 
TO RENT/SHARE 


CANADA 


TORONTO^ CANADA r LUXURY, 
foamed and equipped 16 2 


fapinor 

Short lertn rentak. The Mortal Suites 

222-230 Front St East Toronto, M5E 

114. Canada. {41^85-1076. 


GREAT BRITAIN 


LONDON ROUND? On 




'apartments in West End 

■ G. 


t£bwt»7i 


SURREY in St Georges Hi Weyfaridge 

renavated 5 bedrooms, 3 bottn, erec- 
ufce home an 2^*re garden. trtVA- 
meriaai schools. 30 itfa. Londoo- 
0^00/ month. Weyfaridge 42813 or 
Cofaham 537B UX 


LONDON. For the best fwnifad flats 

and houses. ConluR #« Spedcfcts 


PhSfs, Kay mid Lewis. Tel: South of 
Pbt*352 8111 North of “ 


^ Park 722 

S13S. Telex 278*6 EBIDE a 


PARIS AREA. FURNISHED 


Elysees-Concorde 

Aporiments/houees . 


A8P, 9, Rue Rorale. 7SJ08 Pmfa 
Tat fa 265 lift, fries 640793F. 


AT HOME M MRS 

PARIS PROMO 

APARTMENTS FOR RBfT OR SALE 

563 25 60 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA FURNISHED 


Bysees-Concorde 

eccsmoNAL wvAUoes 

2 bedrooms. krg« twng room 
ovoiobtr for short terra day 
ABP, 9. Kue Eoycfa 75008 Pais 
Teh (1) 265 11 ftTfrie* 6407V3F. 


ST. dOUD LUXURIOUS HOUSE 
Lotge ering, 5 bedroom*. 4 bofht. 



Tel: (1)266 


’. Triage 640793F. 


74 CHAMPS-aYSSS 8ih 




2 or 3ro ooi aportaienl. 
fa month or more. 

UE GARRXX 359 Or 97. 


LUXURY AT 


'Bo- 


as Try I 

• the Bffel Tc 

or. From one week upwmds, Fuly 
e q uipp ed studwe to 5 rooms, with or 
wShouthotd service. Contact! FLA- 


TOIH. 14 rue du ThMfa, 75015 
PorieTeb 575 62 20. Hn 205211 F. 


SHORT TBUW STAY. Adwnft^mofa 


hotel Mtho ut ■tcottuerfaKes. 


and mare b ftrk 6URUJM: 9t rue 
de rUBwewilt. Poris7ife 544 39 40 
NEAR TROCADBO and Victor Huga 
Roam + Eving. Wew .modern, luxury. 
Start torn podfadfan 
cr. JOft 553 56 78 or 


7THrV, 


— J75 sqjn. luxurious 3 

RO/Xfi. Tri. 55041 55 9J0 ■ 630 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA FURNISHED 


ETOU. 60 eue luwrious stucfaL awri- 

rifa from August 5th to Septamhar 
6th. F4500 or F5500 with home maid 
twice a week. TeL 553 4532. 


71H>K>Sra0UUUN.I 


RMAJN. Beo wt tyma , 

_ . . bowaiuffy dccoratedt 


6IH ST araMAML 2 rooms, fader*. 

bath. F4500/ August. Tri. 633 1594 

eoriy an or Iota pm. 


AUGUST ONLY. Aue. Suffren. Uemri. 

out 4-room ^ t cr tmwt FIS^OO. 563 
66 65. 


VICTOR HUGO. Modem desgn, 

rige Bring , 2 hedrocmt lt>*/ 
Lichen, ngoog 7048791 

FRONT DE SHME. 2/3 ROOMS, od 

Short/ktng arm. 


0=387 5303 


GEORGE VI SpeefaB Iguejy frongHj’ 


one bodroonv modem btcrien & 
fal* ond oirn F5000. Tel: 720 37 99 

CRC W» OR MORE cooking focS- 
M, wril & Ufa •quested, more am- 
Eort lam money thonl>atat3067879. 


ST GBUNAM W IAYE Luxurious vd- 

280 sqjn. + 2000 sqjn. garden. 

66 65, 


9TH NEAR MONTMARTRE. 2 bed- 


roan^gufa, many, renovated. Au- 


>4401. 


18TH NEAR MONTMARTRE, beouu- 
ful ^raorn fkti to fan for August. 
F2J00. Tel 258 78 62. 


SHORT TBM to Latin Ouarier. 
Noa^ite Tet3293881 


SfsSTS^”"’' 


Uem riom 3 nan, aitl, 

77300 88T 08 18 up to 2 pJn. 


International Business • Message. Center 


ATTENTfON EXECUTIVES 

mrifcft yer Aorinafeanaao 

hsibelniamaEomOHmtddTri- 

ftcen. ttfane mane Man o Grid 

of a m SCon readers woHd- 
fafe mart eg rim ore kt 
badness and I nd a dr y, wig 
read ft. M Wex us (Paris 
613S9SJ betas* IOojti, en- 
eur fag » wi eon t e lex you 
bade, ratd year m a n age wR 
uaii 49 hour*. The 

US. $9 JO or had 


eq ui vale nt per Bern. You mast 
esdoda cai uriri e and veriS- 


BUSINESS 

OPPORTUNITIES 


AUGUST 5tfi 

ON SALE JULY 29nd 


BUSINESS WKK 
INTERNATIONAL 


• LLOYD'S: 

' WHAT'S NEXT 

• LABOR TROUBLE 
JARS SOUTH KOREA’S 
ECONOMY 

• “BLACK FRIDAY* 

. FOR THE 

ITALIAN URA 


NOW ON SALE AT 
ALL INTERNATIONAL 
NEWSSTANDS. 


PROFESSIONALS IN XMA5 Deatro- 
nai^ewerycanneiic 


gintt & ain (utn. 


LExportenj 


MooshSi 





BUSINESS 

OPPORTUNITIES. 


ONSHORE A UK 
LTD COMPANIES 

Wtu orDor oliu n and monogewnl he UK, 
Me <W Men, Turfct Angufta, QiomJ 


M«fe 

aunt cater 

• Confidendri advfoe 

• frmnnfcee afafctrity 


Gibraltar mtd 


• Bearer fawts 

• Boat __ 

I A aril i miration 

• none & telex 



London ... 
2-5 OH Bond 
Tri 01-493 4344,1k 


JOJOBA - LIQUID GOLD 


The mrade Jojoba oil produced from 
ran theUiA which fives 


a plant grown ... 

for over 100 yean, has unique, out- 
sfarvS ng aid OJf! favorooly ffr 

pfaxs mineral & anrarf bated lubri. 
anfa Other etabfithed usesr 
aasmetta, _ pharnmutnob, food, 

n o nu ft r duwg. 

•fag P laih dfa e Abeafa Pro- 
— ie Retam en hiieehnenf n Hrit 

oho® Mount knftswL 

Thereafter, protections show avenn 
awn neome or 33%. Far 
ditaA contad; ALIQRA " 




■OSM 1 1 14AM 

r Gedftx, ftonc* 


INVESTOR R BROKER 

WQUBBB WBCOME 


R41BR4A310NAL OR5H0RE 
COMPANY MCORKRAIIONS 
FROM £110 

Conyrehe mi w AdministnAan.' 
Nominee wvRa. Tama af AltoeneyL 
B etpriered offices. Telex, telephone, 
moB fu rwm J ii g . 

Wend fawn 

Bcriaeuflw Hhoq, 
SunVtofaS, 

Merf Man. 

TiL (05241 28020-20240-28933 
Trietr 6283S2 Wood & 


BUSINESS 

OPPOMUNmES 


OFFSHORE COMPAMES 
BANKS 

INSURANCE COMPANIES 


MoEng - Telephone -.Triex 
fiifl tocrafanol Mwicbs 
fete of Man, Jersey, Guernsey, 
Gfaatot, “ 


3faalmr, taana IfariQ, 
Ltncecnboura AntMS, UX. 
Ready mami or ^eori. 


Ready 
Free e*. 

.. I vegisJrt*ons 
London rapresericriM 


Aston Company Formations 
Dept TI, 8 Victoria ft, Doagfa 
«te of^ Mon. Teh W p 
Telex 627691 SWA G 


MONEY TREES? 


YBJ hvext In o ne o f A nwrioo't mo ri 

ddattSSy^fehMpbS 

ed more nut trees in 1984 than any 


other developer h air State. 
HU emud eanrin 



NVTTHJ. 

Material auriUtte in Enjfeh, French, 
German. Box 2358, Herrid TrSjun*, 
92521 Neuffly Cede*, France - 


IMMIGRATION 

NATURALIZATION 
Gouem u ent aXfaorized emdeent 
pagtmi tpedfiea*" 

for penon teebng 

status or a new homrimtf m 

MB NTSKfooNAL 
P.Q Box 353 P.O. Saw 261 
Marbele Mriagri London N1 
Soon United Kjngdo 

Mra mm T*n»2«w 

X 77424 Telex 8953471 


IF YOUR MONEY COULD 
TALK- IT WOULD SPEAK 
TO US 

FA. ISB OVERSEAS 
Investment Consultants 


Tat J0MV444 1SS 
Tim 21 646f« KB DLHeMgrir. 36, 
2000 Hmebutg 20, Germany 


BUSINESS 

OPPORTUNITIES 


FMANOAL GROWTH IN CANADA 


Wb an ®i Rstabishtfd tradt & faamsi 


emuftoate cxTBrna iwsskocil & uonv- 
fat. Profit 


cratian erfas haft from fee new 
Gatcxfion Boom by contotfang: 


Sordat fetenerionri Corporation 
3045 Stmfay Street, Sure 1401 
Montreal Q-t Conoda H3A 187 


Tri. (514} 842-1760 Ite 05560448 


OFFSHORE COMPANES 


UX nan rerident < 


reudert cmpmees. 
Nominee drecton & bearer shore. 
Goafidenfari baric aczoont 
Ml ajpport eervat. 

IVewnw & Uberian ccmparies. 
Offrfmre bank 


1P.C.A. 17 Widegate Sfo London 
Clet 01 3771474. 1fa89391 1 G 


EI7HP.' 


USA 

BUSMBSE5 A REAL STATE 
Burinee trie; commerdd, mdustrid & 
rudcnfiri reri esfefasaie* & leases. 
Property mmwgenmnt & busrass de- 
velopmertL Write trilh your requre- 
mere ifirtandolspsa to rtrscr Reo&y 
& banes Bnfaal4795 leffin Kd, 
#210, Irrine, CA 9271 4 USA. 714651- 
8Q30-, Tha 59Q194. 


UJL OIL COMPANY interested h de- 

vriopingendaliara wife mvestonor 

inrarior ttpr e wtafati to rose cap 

tri for d smd go expfonSon achvi- 
he in US. Company fad has dried 
50+ wefts aw 3 yea- period wefe 
85% success rate. Sanaa nqriries 
only. Please reply: Mr. Edmund G. 
Brwm, Ocryspring Prirotem Compa 
ny, 724 N. Jen wtagfo Haeway. Fort 
Worth, IX 76108. ' 


PIORB2A OSJL 


front £50400 
B ue i n e m hqe rim m rie fro m Cl 0^00 


Benefit from the pountk 

yo w u^ sfangth. Detoded b romure fc 
Brrtuh American Coasutianb 
Tab 01-404 5011 Trio: 466 740 


PANAMA COMPAQ with naranee 

drcdenodonfidetdSriB / Pctv 
ana bans aacaunt formed m 48 from 
O * ready made. Offshore bonfo 


BUSIN ESS 

OPPORTUNITIES 


CAPITAL 50URCE5 - Lendm fef of 
over 400 top venter* coptd firms. 


USA Banfa mfomtafiom tetri onetL 

toner* loai portfofa, rnadmum/ 


aimtnum loam, araev type financing, 
protecte. Ond pecstone to oortoa, 
sertL Id! fii 


GoegoJCmt lo hmfaL IX 6lh floor, 
SUtaiSte. OA) 1, Norway. Tel 02- 
42247B. llx 76CM2-N. 


FMANOAL GROWTH IN CANADA 

We are an e Uo hfehed trade & beifr 
uwesfmenfi 
oft from the 

Booen by oontodio® 

Sordat hternotiond Corporation 
2045 Stanley Steer -Suite 1401 Mon- 


fool. QJC. Canada H3A IV. TeL 
P14)8fe-1760 Tlic: 05560448 


' * SAFETY RUST * 

When interested in a second travel 
jocumertf. please get in touch with uh 
UdSSxtjUpdo. 195, 

ALTEA / Afexmte / Span 


FDUdARY BANKMG on large cd- 

lotefdced loans. The only anmer- 
dd bonk with a repnetonta fa e office 
In London s ueafan g in Ms service. 
Aids Overseas Bara & Trust (WA) 
Ltd; 28 Bode Prince Road, London 
SEI. tot 01.735 8171 


GOMHTIBL PORTRAIT SYSTEMS 

yxp -j iy M POB) an d aptrife 

piorii ate. Motof°o3t rardsae! 
Sated. Kama lA_fetffoch 170340 
rarfdwl TeL 747808 Tx 412713 


ATTHiTKJN OFFSHORE fl Hang 

Kong rad esMe company nr safe, 

owmm 3 prime mcome producing 
properties in Ux AngrieL IS15 rf 
Son. Heate contad Bo»4]4Q5, JJIU 
63 Lang Aae, Ijrdon, WQE9K 


MW IM OF CpSMBKS avaUla 
fer bfodc women. Temtooe* afaiaM 
wtoUwisJe, fete^ed pnndpd* «v 
qwe: President BSC tec_ 310 Brood- 
Sal Uwrenw. NewYrt 11559 USA 


5EA1MC CAR FERRY FOR SAIL Fat- 

tome Kfarifid 9* 
mdebmons or eruradie. Otters 
around £95500. Tefc Lofaao 01-737 
6324/3861. Tk 267569 


HOWTO AVOD FRAUDS. We gm 

KgMy vduefeto jriormaSan. ten 


fareted for ^IXIO, Currmoei ar funds 1 

i EurocurrmBif I 


moved inta faracunency toe depOBt 

oecaunii wm tax free intend ond 

London SW1A 1LT. TeL 01-408 2507. 


OFFSHORE BAMCOT- fifaaary nr- 
wcm, coflolerri, L/C?-'!*** nata [ft 
coneri w ool loan t&nca Wrte 
Praetorian, 243 H$km Jt, Sdfe 
BOO. Toleda. Ohio «S04 USA ^ 


BUSINESS 

OPPORTUNITIES 


PANAMA 


CORPORATIONS 


from USS400 meddle now. Tri 
0LAM3 


g62^ 2024a Triex- 62S3S2 1 


JvfoUi. 


0OMFUTB5 - ConeuBsmt serrices. 


, raeport Major bronds - fowest 
i-Mr. far. 


prices. Mr. laveencs. Paris Tlx 21 3822 
Tn fe n 1 563 29 89 or n 1348 30 0a 


FRAUD MTL RffORT. 2nd Rampart, 


35 ooureries, tn havers supv gtede- 

- I&76a£ 


GMC 26 NaomensM SL. 
eny Greece. 


WE HBP YOU SO UROHG marufae. 

turws af indosftiri _prxxkirts in Germo- 
>. Servinmc GmbH, 04000 ~ 
11.M 




BORDEAUX WMB — DIVMORO, 

10 rue Morice, 92110 Ckhy, France. 
TeL fl) 730 » 56. fc 641 ife BJTA. 


BUYMG AND SS1MG BANKS. For| 

ntenst please trims 241176 
G8. 


Bwo 


BUSINESS SERVICES 


BEAUTIFUL PEOPLE 


UMIMITB) MC 
(LSJL A WORLDWOE 


A cumpfae penond 8, buenm lervioe 
of 


promotionri oafaenL 
212-765-7793 
212-765-7794 

330 W. 56* St, KYjC. 10019 
Sanioe Bnes c n taw s 
Needed Wortdwide. 


PROMOTION SERVICB 


(fobfefa - Adverting 

USSSStiBBtt-. 

feet, refiatfa mmgIl CbntaA Btfeert S. 


. fefao 3725487 AO W 


OVBTSEAS Newsfaj. 


iri ri ntfadn wtat A^deest Coari- 


Ud^8 Vfrsona ft Oooglat, fefe 


riMnUX 


73 rot de PEvartple. 75018 Paris. 



BUSINESS SERVICES 


PBVATE DETECTIVE SCAMXNAVU 

& Hnlwd, ai Norway: 2* hours 02- 

42 72 14. Tlx 18949 Agent Manager 

G. ReUev, fanner pdcnJanay offi- 
cer, cm i to d s wortefade. tod to Jem. 
bonetorgef4, N0154 Qdo 1 Norway 


HOH Q KONG, YOUR TAX S helter, 

re-lnvorcmg center, nmemc 'trade 
na bridge far Qieio marheLot Room 


FINANCIAL 

INVESTMENTS 


GAS WB1STDSA 


Strong exptarrao n group woh I COX 
succbb record 106 weB^ 106 canxfa- 
tionst Guaranteed prodwhon an mfa- 
woll ct Mti ods. Beoritent return an in- 
ratteenr far fan term income m U9 
Dotartfua $300000 p« vnL Cmtad 
GAS wSfi/USK, Lomino tefo Texoi 
76634JUSA, Triex 361wZ GAS WEL15 
USA. 


CIOSINO BAMC - FOR LOAN taw 
adione, ed comrade, etc Bent in 
Zuricfefeundi of 6&on bort CnS 
361 6600 or 056/491 362. 


DIAMONDS 


Shopping in Europe? Visit 

DIAMONDLAND 


Tito largest showroom jq 

Anfweip, Dianxmd Gty 

Appeteafa 33A. IM 323/234)612. 


DIAMONDS FROM AMSTERDAM aft 

prink Came to fee 

SttSsSsffiSp dt 

Wempenfan 4. Teh 257238 / 797602 


OFFICE SERVICES 


LUXEMBOURG 
EXECUTIVE S81VJCES 

ffrw g, tridt r md M btrinenseniii 

i#fe Sfe 1 !; 


Trie* 3251 DfHGSMU 


office Services 


GENEVA 


SWTTZBRAND 
FiriJ Sgtvtcs 
is oar Business 


• haeratriood low end tons 

• MoRnc, t a la ri wo e and triex 


• Trcffisiataan end sacretoriai senrias 

• forntobota 


M eo t ri ida n ce and dfeotoion t ame d 


BUStBS ADVISORY 
SXVTCES S.A. 


7 Rue Ataxy. 1207 GS'5VA. 
36 0T40 Triex: 23342 


Tdt 1 


ZURKH-ZLWICH-ZIBUCH 


BU9COR 

BAM4HOF5TRASSE 52 
Tf* RNANOAL CB4TB 

• Yoor iu tegre tad fesmess Services 
Co^gf m the teondri Center 

•Office fafratedure: Executive 
Office*, dndcDted faeptxxm, trie*, 

m e ma g e- cen te r. nnraid 

tecretoria + rnr.ytin.ini 

• Domicile your oddest at Ztstai's 
renowned buma 


street. 

Berinw Stavfen Cornett Cora. 
SohahofftoBe S2CHW22 ZendL 
Tefc W/211 9207. Tbc 813 062 


GENEVA ““SvS?® 5 


^ Wfad to ran. DomitS. 


RWSSBS ASDRBS. MaS office *, 

pftojtar Wfa Merrill iul serwceL 

Cma Men fema C«er^S 
51792 11(12 fated. The §3^ 8^* 


PARS. AOORESS. 


1 




wwamcEMsAOPAuiofttsft. 

WSMtfch* I 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA FCR.N15HEH 


QORajNS: 3 rooms, August F3200 ■ 
warty deposit. Tel- 3» 92 78 


PEAR UNESCO. Modem stedo. aua 

40 nun, $500 net. Tel: 500 21 28 

BOOL 3/4 rooms, quiet. F6500. TeL 

76361 34 or 755 64*54 


7TH. BAC. Shmtstay . Louriy 2 non*. 
ofleorriorts. F5J00. 229 5298 


PARIS AREA UNFURNISHED 


ST. SLAPICE 


out 2 rooms. 


ranowted. Lirxvn- 
Teh 563 68 38 


ISAR VBSAUES..VRQ, Ig^daq. 


double Swing. 5 bedroom, 

WCs. about 10^0 sqjn. garden. 
F13^00. Tab 341 22 22 


USA 


FOR RB4T DQ4VBI COLORADO 

A es tigic w a Home Denver Country Qub 
Area. fr£00 plus tq. ft. carioge haute, 
term court, 12S acree. 10 mnuies to 
downtown, 15 nmtes to airport 


6 months to 1 yt- Prindpab orb 
pDlJ 662- 8546. 


REAL ESTATE 
WANTED/EXCHANGE 


LARGE AMERICAN COMPANY 
seeks for one of its imandof managed 
an wifumsifad fte to rer# beguwg 
Sept K. Storied NetAy sur Seme 
[ne» Brisk fa* l«ij" lrrts a 2 bed- 
room, terrace or covered briuony + 
oar paring. Tefc 778 13 31 iU 
Hrioua office hoars 


DIRECrOR OF AMBBCAN pubfaKnc 
home series unfurnished aparimeri? 


home of (feme 150 sqjn. wife Smge 
terrace or small garden in tee 
7th/8th/1Sh/T6tfc a Neufa - S 


hourst 


FAMRY SBEK5 large house from Aug 

15 / 31. in Weyfadge, UX & sur 
rouncim Tefc Londoa Mr, Arohmi 
01-9387166, home: 27k 41 60. 


EMPLOYMENT 


GENERAL POSITIONS 

AVAILABLE 


OVBSEAS POSITIONS. Hundreds of 

top p aying p osftia a avrilabie. Tax 
free incomes. Attractive benefits. Op- 
p ortiwilies far oi occupation. Free 
detote. Oversees fejfcymei* Ser- 
vxaa. Dept HT, P.O. Bm 460. Town 
of Mpurt Royd, Quebec. Cormdo 
H3P3C7. 


employment 


GENERAL POSITIONS 
AVAILABLE 


AMERICAN PROORSADBI * -os' 

needed, pet tune in Ltmdcr.cvc- 21. 
between ‘DJC c-n i t zr\ 
01 -439 «. rs 


phone bi 
London 1 


GENERAL 

POSITIONS WANTED 


2 AIRCRAFT PERSONNEL. Mes/y Inc 

irnttnmCP tuCYTCV'ld B t •* • • 

censed e»pcrtw <r & 

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19133 
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