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No. 31,816 


ZURICH, THURSDAY, JUNE 6, 1983 




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ESTABLISHED 1887 


Senate Panel 



On South Africa 


By David B. Octaway 
and Margaret Shapiro 

Washington Post Savin 

WASHINGTON — In a sting- 
ing defeat for the Reagan adminis- 
tration, the Senate Foreign Rela- 
tions Committee has voted 
overwhelmingly to impose eco- 
nomic sanctions an white-ruled 

South African doctors say pofice 
are abasing patients. Page 5. 

South Africa, including an end to 
all U.S. bank loans to the govern- 
ment there. 

Striking a compromise on Tues- 
day between two sets of Republi- 
can proposals, the committee ap- 
proved, 16-1, legislation that would 
ban computer ales to South Afri- 
can security services or other agen- 
cies involved m enforcing racial 
segregation, and also would end 
nuclear-power trade and coopera- 
tion. 

In addition, there would be man- 


Arms Ban 
Orijordan 
Is Opposed 

By Bernard Gwertzman 

New York Tima Service 

WASHINGTON — The Reagan 
adminis tration has criticized aS a 
“serious mistake*’ a proposed Sen- 
ate resolution opposing the sale erf 
advanced arms to Jordan unless the 
Amman government opens negoti- 
arions with IsracL . 

The administration said the reso- 
lution, offered Tuesday by 69 sena- 

peace in it^S^dle^tL^ 6015 
Separate statements by the 
White House and the State Depart- 
ment indicated that the atimunstra- 
tion was committed to a projected 
aims sales to Jordan. 

The administration has not said 
what arms- it plans to provide or 
when it will formally notify Con- 
gress. But congressional sources 
said that Jordan was seeking the F- 
2) fighter, improved versions of the 
mobile Hawk, anti-aircraft missile 
and Stinger hand -held missiles , 
among other items. 

Jordan mamtams that it needs 
the advanced equipment to offset a 
threat from Syria, which has been 
heavily equipped by the Soviet 
Union. 

Secretary of State Gouge P. 
Shultz, who urged senators Mon- 
day not to go ahead with the resoln- 
lion, has called statements by King 
Hussein while he was in Washing- 
ton last week a significant contri- 
bution to the perns efforts. 

Mr. Shultz, flying to a NATO 
meeting in Lisbon on Tuesday, told 
reporters aboard his plane that the 
resolution was “not a service to the 
peace process." 

“King Hussein has taken, some 
important initiatives that are posi- 
tive, that move in the direction of 
peace, that move in the direction of 
direct negotiations, that employ the 
word nonbethgerency, " he said. • 
“And to greet those moves by the 
Senate sticking its finger in his eye 
doesn't seem to me to be a particu- 
larly good thing for the United 
States to da” . . . 

The administration contends 
that Hussein favors negotiations 
with Israel and is moving step by 
step toward achieviug that goal by 
the end of the year. Thus, h believes 

(Continued on Page 2, CoL 7) 


da Dory application of the Sullivan 
principles, which set forth gside- 
tines for the 300 or so U.S. compa- 
nies operating in South Africa to 
strive to improve nonwhites’ living 
anri working conditions. 

The principles were named for 
the Reverend Leon H. Sullivan of 
Philadelphia, long a critic of South 
Africa’s race policies. Companies 
found in violation would be de- 
. prived of U.S. government aid for 
export-marketing activities in 
South 'Africa. 

The lone holdout on the commit- 
tee was Senator Jesse A. Helms, 
Republican of North Carolina, 
who opposed any action. 

The Republican-sponsored bill 
constitutes the strongest economic 
sanctkms against South Africa ever 
approved by the committee and ap- ■ 
pears to stood an excellent chance 
when it reaches the Senate floor. 

The Democratic-controlled 
House was nearing a vote Wednes- 
day on stronger legislation, which 
would end new loans and invest- 
ment in South Africa and ban com- 
puter sales to South Africa and the 
import of South African gold coins 
into the United States. 

On Tuesday, the House brushed 

■ aside, by ratios of more than two to 
one, several Republican efforts to 
weaken the measure. 

The House approved by voice 
vote amendments to prohibit any 
kind of nudear assistance to South 
Africa and to encourage President 
Ronald Reagan to solid t coopera- 
tion from US. allies in marring the 
bill’s sanctions. The Senate com- 
mittee approved a similar amend- 
ment 

The mood among committee 
members seemed to be summed 
by Senator Christopher J. 
Democrat of CtanecticntrWho re- 
marked that after five years of de- 
nunciation of the horrors of South 
Africa’s apartheid system, “the 
time has come for action. We must 
take action.” 

Essentially, the committee ap- 
proved a series of amendments 
calling for the Immediate imposi- 
tion of three, specific economic 
sanctions proposed by Senator 
William V. Rom Jr, Republican of 
Delaware, and Senator Mitch 
McConnell, Republican of Ken- 
tucky, along with Mr. Dodd. 

The strengthening amendments 
were attached to a bill sponsored 
by the committee chairman. Sena- 
tor Richard G. Lngar, Republican 
of Indiana, Senator Charles McC. 
Mathias Jr, Republican of Mary- 
land, and the meanly leader, Rob- 
ert J. Dole, Republican of Kansas. 

• The thrust of the Lugar-Mathias- 
Dde bill is to increase U.S. assis- 
tance to blacks, including a jump 
from $4 million to $15 million for 
scholarships to local schools and 
universities. 

As approved, tire bill declares 
that it is U.S. policy to inqpose 
add it ional m m tw and political 
sanctions gainst the South African 
government but postpones any de- 
cision for 18 months and allows the 
president to avoid action if he de- 
termines “significant progress” has 
been made by South Africa. 

■ Pretoria Hints at Reprisals 

- South Africa, uneasy about 
moves in the U.S. Congress to im- 
pose economic sanctions, hinted 
Wednesday that it might take ac- 
tion that would be harmful to its 
black neighbors, according to a 
Reuters dispatch from Johannes- 
burg. 

Toe government said it would 
have to reconsider the position ofa ■ 
million illegal migrant workers if 
jobs of its own blacks were threat- ' 
eared by UJL action. 



elling 
Algeria Crain 
Under Subsidy 


Police officers escorting Mehmet AS Ages into a Rome corntroom to testily Wednesday. 

Agca Traces Trail of Papal Shooting Gun 


By John Tagliabue 

New York Tima Service 

ROME — The man who wound- 
ed Pope John Paul II in St. Peter’s 
square four years ago described to 
a court Wednesday how he and 
rightist terrorist friends from Tur- 
key bought the weapon used in the 
attack from an arms dealer in Vien- 
na. 

Mr. Agra, testifying before a 
Rome court investigating the al- 
leged conspiracy to minder the 
pope, said that one of the Austrian 
arms dealers who subbed the gun, 
Horst Griffmaym, “made frequent 
trips to the Soviet Union, Bulgaria 

and Belgium.” 

It was the first time that Mehmet 
All Agca, the convicted assailant of 
the pope, has described pufahtiy 
dements of the alleged conspiracy. 


But in more than an hour of 
testimony before two judges and 16 
jurors, he made no further mention 
of Soviet-bloc countries. 

In dosed testimony to Italian 
prosecutors, Mr. Agca has said that 
he and his friends were offered 3 
million Deutsche marks ($12 mil- 
lion at the time) by tire Bulgarian 
state security service to murdCT the 
Polish-born pope and thereby 
crack resistance to the CnmimHiist 
Party in Poland. 

Mr. Agca did not repeat on 
Wednesday claims that he made in 
testimony last week that he was 
Jesus Christ 

Speaking in careful Italian, Mr. 
Agca described how he and a.Turic- 
ish friend. Oral Cdik, paid Mr. 
Griflmay cr and another dealer, ' 


Otto Tmtner, 60,000 Austrian shil- 
lings ($2,800) for four Browning 
semiautomatic pistols, magazines 
that hold 14 cartridges and about 
10 packages of ballets. 

Police have traced the 9mm pis- 
tols to a cache of 21 Brownings 
from Belgium’s Fabrique Nation- 
ale Herstal that passed illegally via 
Zurich into Austria, where they 
were sold to Mr. Agca and his asso- 
ciates. 

Mr. Agca, who is accused in the 
trial here with four other Turks and 
'three Bulgarians in the plot to ltiU 
the pope, said that Mr. Cdik, 
whom he repeatedly described as 
“my friend,” supplied the money 
’and knew of tire arms dealers. 

Asked by Judge Sevexino Santia- 
^idu where Mr. Cdik obtained tire 

— : 


money and the dealers' names, Mr. 
did not answer, 
dosed testimony in May 1982, 
Mr. Agca said that tire money and 
names came from Bein' r retail , a 
Turkish b usinessman in Bulgaria, 
who he said channel ed the funds 
and information from the Bulgari- 
an secret sendee. 

Mr. Agca said that several Turk- 
ish friends in Vienna, including Mr. 
Cdik, Abdullah Call! and M ehme t 
Sexier, kept the pistols after tire 
purchase. 

Mr. CalH, who is being sought by 
Italian authorities in connection 
with the shooting, was arrested by 
French police in October on 
charges of heroin smugg lin g , Mr. 
Scorer has been sentenced by a 
court in Switzerland to five years in 

(Continued an Page 2, CoL 6) 


By Robert Pear 

New York Tima Service 

WASHINGTON —Hie ] 
administration, responding to what 
h calls unfair trade practices by the 
European Community, has an- 
nounced the first sale of commod- 
ities, to a foreign country under its 
new export subsidy program. 

The transaction involves up to a 
million metric tons of wheat for 

The EC opened the way for a 
research drive in data and video 
technology. Page 2. 

Algeria, including an unspecified 
quantity of surplus wheal to be 
released from U.S. government 
stocks and given to American ex- 
porters at no cost Officials said 
Tuesday that tire bonus would 
make it possible for the exporters 
to meet subsidized European ex- 
port prices. 

Agriculture Secretary John R. 
Block announced the sate just a few 
hours before leaving on a trip to 
Western Europe, where U.S. allies 
have criticized the export subsidy 
program and wanted of a trade 
war. 

“It is not our intention to take on 
the rest of the world in internation- 
al trade,” Mr. Block said at a news 
conference here. “But the world 
must realize that the American 
farmer has lost 25 percent of our 
export markets in the last five 
years. That is economically nothing 
short of intolerable. Politically, it is 
intolerable.” 

Mr. Block said the sale to Algeria 
would meet the two objectives list- 
ed by the administration when it 
announced the “export enhance- 
ment program” mi May 15. “The 
first criterion,” he said, “is to sefl 
more product” abroad, while “the 
second criterion is to target mar- 
kets where we believe that unfair 
trading practices have victimized 
the American fanner.” 

The US. share of the Algerian 
wheat market has fallen from 41 


percent in 1979-80 to about 16 per- 
cent in 1984-85, Mr. Block said. 
“During the same period." he said, 
“the European Community, with 
its program of export subsidies, has 
increased its market share from 29 
percent to an estimated 59 per- 
cent" 

Most of the gain, he said, was 
made by France, which has close 
ties with Algeria, one of its former 
colonies. 

On his trip to Europe, Mr. Block 
plans lo meet Sunday with Henri 
Nallet France's new minister of 
agriculture. Mr. Nallet said last 
week that tire U.S. export program 
“smacks of a trade war” and could 
lead to “a spread of protectionist 
measures.” 

Under the program, the United 
States will give exporters S2 billion 
of government-owned surplus com- 
modities to stimulate foreign buy- 
ing of U.S. farm products in the 
next three years. 

Mr. Block said, “This particular 
sale of one millio n metric tons rep- 
resents a third of Algeria's estimat- 
ed wheal import needs.” A metric 
ton contains about 2^06 pounds. 

Agriculture Department officials 
estimated that the Algerian govern- 
ment would pay SI 17 million for 
the wheat. The Algerians already 
were buying 450.000 metric tons of 
wheat from the United States at a 
cost of $55 million to $60 milli on 
this year. But the transactions in- 
volve different types of wheat. 

■ EC ‘Will Defend Place* 

Axel Krause of the International 
Herald Tribune reported from 
Maastricht, The Netherlands: 

The EC “will defend its place” in 
international markets against the 
US. subsidy program and is study- 
ing several options for action, an 
EC Commission source said 
Wednesday. 

Other officials said the options 
include new subsidies to encourage 
the sale of farm products and legal 

(Continued on Page 2, CoL 6) 


GM to Buy Hughes Aircraft From Institute for $5 Billion 


By Mark Potts 

Washington Post Service 

WASHINGTON — General 
Motors Coip. said Wednesday that 
it had agreed to buy Hughes Air- 
craft Co. for cash and stock valued 
at more than $5 billion. The sale 
will provide a windfall for the 
Howard Hughes Medical Institute, 
which owns all of Hughes Air- 
craft's stock. 

The purchase will improve GM*s 
already strong position in high 
technology and make the automak- 
er a major defense contractor. Even 
with the Hughes purchase, GM stiQ 
win be ranked the second largest 
US. corporation in terms of reve- 
nue, behind Exxon Coip., the oil 
company. 

The acquisition wSD be ihe larg- 
est outside of the oil industry and 
exceed the recent S5-bfllion mar- 

nafcos., which detidecPto mage 
after hairing considered a joint bid 
for Hughes Aircraft. Tire biggest 

KS? takeover of Gutfllriip., the 
on company, last year. 

The transaction win turn tire 
Howard Hughes Medical Institute, 
based in Bethesda, Maryland, into 
the largest US. nonprofit organiza- 
tion. 

“It’s amply a boon to 
who gives a damn about 
research,” said Irving S. Shapiro, 




■gjl General 

rrnnrTn Hughes 

IiiiLBl Motors Corp. 

UhBBB Aircraft Co. 

Mom Businesses: 

Main Businesses: 

Vehicles, auto pc&rts, computers 

MtissOesr sateKtes, electronics 

Scries (1984): 

Scries (1984): 

$83.9 UOion 

$4.9 Ufion 

Profit (1984): 

Profit (1984, estvnated): 

biffion 

$200 m3fion-$250 mffian 

Number of Employees: 

Number of Employees: 

748,000 

73,000 

Number of Stockholders: 

Owner: 

998,000 

Howard Hughes Medical Institute 

Headquarters: 

Headquarters: 

Detroit, Michigan 

B Segundo, Ccfifomia 


former chairman of Du Pont Co. 
and chainnan of tire institute's 
board of trustees. 

Donald S. Frederickson, presi- 
dent of the institute, said he expect- 
ed the sale of the company to more 
i turn double the research funds 
available to tire institute, to $200 
million annually during the next 
year or so. “We wffl develop plans 
for use of the money and we will 
keep you informed," he said. 

The institute does research in en- 
docrinology, immunology and ge- 
netics. 


Howard Hughes, (he billionaire 
aviation pioneer and businessman, 
set up tire medical institute in 1953 
to shelter income from Hughes Air- 
craft, winch in spile of its name has 
never produced an airplane, but 
rather makes mi s sile s communica- 
tions satellites and sophisticated 
electronics equipment, primarily 
for tire Defense DepartmenL 
The company is the institute's 
sole source of income, and tire rela- 
tionship has been hounded for 
1 legal disputes by chal- 
tax authorities. The tax 


authorities have charged that 
Hughes Aircraft did not contribute 
enough to the institute and that the 
relationship was more of a tax shel- 
ter than a legitimate research-fi- 
nancing arrangement. 

In 1983, the last year for which 
figures woe available, Hughes Air- 
craft tnnud over $51 million in 
profits to the institute, despite reve- 
nues of $4.9 iriUion. Last year, the 
contribution reportedly increased 
to about $80 mfllinn, on the same 
revenue. 

In part as an answer to this criti- 


cism, tire institute’s trustees decid- 
ed earlier this year to sell the com- 
pany and invest the proceeds 
elsewhere. The institute’s derision 
to offer the company through a 
sealed-bid auction drew interest 
from some of the biggest US. in- 
dustrial corporations. 

General Motors' bid, under 
which the institute will receive $2.7 
billion in cash and the rest of tire 
purchase price in the form of 50 
million shares of a new class of GM 
stock, was chosen by tire institute's 
trustees over offers submitted by 
Ford Motor Co. and Boeing Co„ 
the big aerospace concern. The 
trustees were assisted by Morgan 
Stanley & Co„ the investment 
bankers, in analyzing tire complex 
bids. 

Mr. Shapiro said GM*s offer was 
clearly the best “They simply pre- 
empted the process with their bid,” 
he said. “There just wasn’t any am- 
biguity at all It was so clearail that 
everybody saw it tire same way.” 

GM’s chairman, Roger B. S mith , 
said that tire acquisition of Hughes 
would allow tire company to build 
better automobiles as well as to 
compete in new fields by giving 
GM a strong base of knowledge in 
sophisticated electronics. 

“I’m a firm believer that the ma- 
jor gains in tire automotive industry 
are going to come in electronics,” 

(Continued on Page 2, CoL 4) 


INSIDE 

■ Mikhail S. Gorbachev may be 
gambling Ins tenure on Soviet 
economic reforms. Page 2. 

I Admiral Hyman Rkkaver re- 
ceived diver trays and fresh 

fich, amon g o ther things, from a 
military contractor. 


■ Alexander L Solzhenitsyn 

and his wife applied for US. 
citizenship. Page 5. 

SCIENCE 

■ Fungi in the .roots of most 
plants could be harnessed for 

and agriculture, bio- 
‘ Page 6. 


SPORTS 

■ Monique Berliosx an- 
nounced her retamalwa as di- 
rector of the International 
Olympic Committee. Page 15. 

business/finance 


■ Britain reduced the 
its key blend of Ni 
SI.25 1 


per band. Page 

TOMORROW 


Neil Simon, one of the most 
successful U.S. playwrights, 
and David Rabe, one of the 
mast provocative, discuss tire 
theater. 


U.S. Officials Increasingly Discuss Sending Troops to Nicaragua 


By Joel 
and Bil 


Brinkley 
Bill Keller 

New York Juna Service 

WASHINGTON —Reagan administra- 
tion officials have begun openly discussing 
a subject they had previously refused even 
to speculate about: the possibility that 
American combat forces might one day be 
sent into Nicaragua. 

No one in government is saying that an 
invasion is an imminent or desirable step. 
But in the last few weeks. President Ronald 
Reagan, Secretary of State George P. 
Shultz and other senior officials have for 
tire_ first tune begun wanting that if other 
policies fail, the United States may be left 
with little choice m the years ahead. 

Interviews with almost 50 military, dip- 
lomatic and foreign government experts m 
Wa s hing to n, Panama, Costa Rica, Nicara- 
gua and Honduras indicate that discussion 
of the issue has bwyyp 1 ? commonplace in 
official codes. 

lire interviews and other inquiries also 
brought to light these prints: 

. •AlthoiMh no (me in Congress has pub- 
licly called for LIS. nnhiary involvement in 
Nicaragua, tire mood on Qtpiio] Hill in tire 
last few weeks appears to have drifted 
shantiy against the J^mdinis i government. 
Many members say there is growing doubt 
that any of the policy options still avail- 
able, including renewed aid to the insur- 
gents, is. likely to bring fundamental 
changes in Managua’s behavior. 


• Administration nffirink have agreed 
that a number of possible situations would 
leave the United States little choice fait to 
use military force. They include Nicara- 
guan acquisition of high-performance 
fighter planes and the granting to tire Sovi- 
et Union of the right to establish a military 
base or bases in the country. 

• Both critics and sympathizers of the 
Sandinists say they would not be surprised 
if Nicaragua committed an act that pro- 
voked U.S. intervention. 

• In Central America, US. officials and 
others assert that Nicaragua’s neighbors 
are growing more concerned by the day 
about the Sandmists’ policies. hi Nicara- 
gua, an American nffirfal said, business 
groups and others are asking, “When are 
you coining?” 

In public and in private, the Joint Chiefs 
of Staff, Defense Secretary Caspar W. 
Weinberger, the White House national se- 
curity adviser, Robert C. McFariane, Mr. 
Shultz and President Reagan, all have said 
they hope the United States is never called 
upon to send American forces to Nicara- 
gua. Stiff, every official interviewed said 
that events beyond U.S. control could 
change that almost overnight. 

Without support from Congress, admm- 
istratian officials agree, nrihtaiy involve- 
ment in Nicaragua is uriSkriy. Today, Con- 
gress remarng wnplarnhly opposed. 

Many members reacted with alarm last 
month when Mr. Reagan, in a classified 
report (6 Congress, said the use of US. 


nrifitary force in Nicaragua “must realisti- 
cally be recognized as an eventual option in 
the region, if other policy alternatives fail.” 

In a speech to tire American Bar Associ- 
ation on May 23, Mr. Shultz warned mem- 
bers of Congress that if they did not ap- 


Dde, undersecretary of defense for policy, 
warned that if Congress persisted in what 
he called “a policy of pinpricks,” it raked 
the risk of “some variant of the Cuban 
miwle crisis.” 

“What are you going to do two or three 




r Wbat are you going to do 


. . . when Nicaragua is fully 

it .. 

armed? Are yon going to 
provoke another Cuban 
missile crisis? 1 

mm 

— Fred C. Ikle, undersecretary 


at defense for policy 



prot 

Ame 


wove renewed aid for the 
terican-backed Nicaraguan . rebels, 
“they are hastening the day when the threat 
will grow. and we will be faced with an 
agonizing choice about the use of Ameri- 
can combat troops.” 

And in an interview May 22. Fred G 


years from now, when Nicaragua is fully 
armed?” he asked. “Are you going to pro- 
voke another Cuban missile crisis? Are you 
going to send in the marines?” 

At the same time, the Nicaraguan gov- 
ernment's reputation on Capitol Hill has 
dearly soured in the last few weeks. 


“The Sandinistas don’t have any friends 
up here any more,” an aide to the House 
Democratic leadership said. “The chang e 
has been almost palpable.” 

A key event behind the change was the 
trip to Moscow by Nicaragua's president, 
Daniel Ortega Saavedra. The announce- 
ment came on the day the House was 
voting on renewed aid to tire rebels, and 
many membffs of Congress said they were 
stunned by the timin g- The aid, however, 
was rej ected. 

So far, however. Congress has shown 
little interest in granting military aid, the 
type tire administration says is most need- 
ed. And General Fan! F. Gorman told 
Congress in February that, even with re- 
newed mili tary aid, the rebels could not be 
expected to change the Sandinist govern- 
ment “in the foreseeable future." 

The next most likely sup, several offi- 
cials said, is the ending of diplomatic rela- 
tions with Managua. 

“1 think that Is going to happen,” said 
Senator Richard G. Lugar, a Republican of 
Indiana and chairman of the Foreign Rela- 
tions Committee. “But I don't know how 
soon.” 

A senior US. official in the region said 
“we could permanently station U.S. 
forces” in Honduras. If that fails, tire offi- 
cial added, “I guess the strategy would be a 
policy of containment,” meaning heavily 
• arming Nicaragua’s neighbors. But Mr. 

(Continued on Page 3, CoL 3) 


RiftReported 
bi Pentagon 
On SALT Pact 

By Bill Keller 

New York Tunes Service 

WASHINGTON — Senior U.S. 
nrihlary leaders, in a split with De- 
fense Secretary Caspar W. Wein- 
berger, hove concluded that the 
United States would probably lose 
more than it would gain by aban- 
doning tire 1979 SALT-2 arms limi- 
tation treaty with the Soviet Union, 
according to Pentagon officials. 

The military leaders, including at 
least three of the five members of 
the Joint Chiefs of Staff, have de- 
termined that the Soviet Union 
would be able to outbuild the Unit- 
ed Slates in an unrestrained nude- 
ar arms race, while the US. mili- 
tary would be held back by 
budgetary and political restraints, 
the officials said. 

One offidal said the military 
sentiment was also colored by a 
worry that an all-out competition 
in nuclear weaponry would drain 
money away from tanks for the 
army and ships for the navy as well 
as other non-nuclear weapons. 

Tire White House has said that 
President Ronald Reagan will an- 
nounce on Monday his derision 
whether to abide by tire 1979 trea- 
ty, which expires at the end of this 
year. Although the part was not 
ratified, each side has said in the 
past that it will informally observe 
its provisions if the other does. 

Mr. Weinberger and his senior 
civilian arms control adviser, Rich- 
ard N. Perie, assistant secretary of 
defense for international security 
policy, have urged tire president to 
abandon the treaty because at what 
they contend have been Soviet vio- 
lations, the Pentagon sources said. 

Mr. Perie has said that scrapping 
the treaty would not pose any im- 
mediate threat to the United States, 
but would signal to the Soviet 
Union that it must abide by the 
terms of any future treaties. 

The 1979 treaty was the second 
major strategic arms control agree- 
ment reached by the United Slates 
and the Soviet Union in the 1970s. 
Tbe first, a 1972 accord limiting 
anti-ballistic missile systems, was 
ratified by the two acres and con- 
tinues in force. 

Amongthe weapon cethnss set 
by the 1979 treaty, the one of im- 
mediate interest is a limit of 12200 
on the number of missiles with 
multiple warheads that can be de- 
ployed by each side. The United 
States will exceed tire limit this fall 
when a Trident submarine, the 
Alaska, puts to sea with 24 multi- 
ple- warhead missiles. This will put 
the Americans 14 missil es over. 

Administration officials have 
said that Secretary of State George 
P. Shultz proposed Monday in a 
meeting of the National Security 

(Continued on Page 2, Col 7 ) 





> --to. •• 


Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


Gorbachev’s Gamble: 


A Reformed Economy 


His Oratorical^ Political Skills Mask 
The Absence of a Detailed Program 




EC Sets Out WORLD BRIEFS 




Research in 


By Dusfco Doder 

Washington Past Service 

MOSCOW — In ihe 12 weeks 
since he became Soviet leader. Mik- 
hail S. Gorbachev has been project- 
ing an almost breathtaking deter- 
minatiomto make chang es in the 
Soviet economy. In fact, he has 
focused on this issue in a way that 


NEWS ANALYSIS 


suggests that his political fate is 
interlocked with the fate of his re- 
form program. 

Mr. Gorbachev's performance so 
far has been extraordinarily 
smooth. The ease with which he 
consolidated his authority and the 
speed with which be assembled a 
new Kremlin management team 
have raised expectations that he 
may succeed where others have 
Toiled. 

Foreign observers see tins as a 
possible trap. Expectations axe run- 
ning high while the leadership has 


yet to come up with a well-devel- 
oped and thought-out pac kag e of 
economic reforms. 

But the new team has more tune 
to work out its program before the 
next Communist Party congress m 
February. 

The ground for this smooth tran- 
sition was prepared by Mr. Gorba- 
chev’s political mentor, the late 
Yuri V. Andropov, who not only 
sheeted the men who run the Sovi- 
et Union today but also laid down 
_a strategic course for the rest of this 
century. 

But this is only a part of the 
current picture. In a relatively short 
time, Mr. Gorbachev, 54, has man- 
aged to establish himself as a man 
of formidable political skills, an 
excellent public speaker and a lead- 
er or great determination. 

That he has pushed Mr. Andro- 
pov's program with more vigor and 
persistence than did his immediate 
predecessor. Konstantin U. Cher- 
nenko, has been the source of con- 
siderable satisfaction for those ele- 


Date, Video 
Technology 


Rft ReDorted Killed in Sri Lanka Raids 


Reuters 

LUXEMBOURG — The Euro- 
pean Community has opened the 
way for the early launching of an 
ambitious research drive in ad- 
vanced telecommunications that 
could also be part of France's Eure- 
ka project to stimulate European 
high technology, according to dip- 
lomats. 

The EC program, which is called 
Research for Advanced Communi- 
cations in Europe, is aimed at over- 
taking Japan and the United States 
in data and video communication 
networks and satellite broadcast- 


SSTMeS bJtogmore than *00 homes, umtea — 

Eastern province, were partially de- 

vikges were complete*^ „ sayin* More than 


villages were ^ capital as saying. More than 

i LLikAiMwc awflev said. ■ .i .. 


6,000 people left ww - — 

* t “* 


T1« taaefetad Pnb 


Mikhail S. Gorbachev talks with automobile workers during a tour of a Moscow factory. 


Soviet to Divert Arctic Rivers 


To Irrigate Arid Central Asia 


Reuters 

MOSCOW — The Soviet Union 
will go ahead with a major project 
to divert water south from Siberia's 
great north-flowing rivers to irri- 
gate arid land, the government said 
Wednesday. 

Many Western experts had sug- 
gested that the ambitious and con- 
troversial plan, which some ecolo- 
gists fear could adversely affect the 
polar ice-cap, might be dropped by 
Mikhail S. Gorbachev, the Soviet 
leader. 

But Nikolai Vasilyev, minister of 
land reclamation and water re- 
sources. said in Moscow on 
Wednesday that plans to cany out 
the project were already advanced. 

“This is the only way to put our 
food program into effect," be said. 
The program is aimed at eliminat- 
ing chronic shortages by 1990. 


Mr. Vasilyev acknowledged, 
however, that building a 1 .550-mile 
(2^00-kilometer) canal to take wa- 
ter from the Ob and Irtysh rivers 
near the Arctic Circle to the deserts 
of central Asia would be very ex- 
pensive. 

He said estimated costs for this 
“reversing the rivers" project, as it 
is called, were more than 10 billion 
rubles (about 512 billion). 


Mr. Vasilyev said that Soviet ex- 
perts had studied the possibilities 
of serious climatic changes as a 
result of a reduced flow of water 
into the Arctic Ocean- 


“There win be no global consc- 
iences." be said. He predicted 


quences," be said. He predicted 
dial grain crops would more than 
double from nearly 25 million tons 
a year to almost 60 million by the 
year 2000. 


INTERNATIONAL POSITIONS 


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Expanding operations - City 


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1AQ. 



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For our Frankfurt office we are seeking 


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The position involves the preparation of individual, partnership and corpo- 
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The type of work requires an accounting background, fluent English and 
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Experience in the preparation of U.S. tax returns is preferred but not 
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maits in Soviet society that are 
advocating major changes in the 
system. 

The big question here is whether 
Mr. Gorbachev will be able to mo- 
bilize the country to overcome re- 
sistance to change on the part of 
the entrenched party and state bu- 
reaucracies. 


But it is impossible to answer 
this question until the new Kremlin 


One night recently, the country 
watched him on television as he 
addressed the Communist Party or- 
ganization of Leningrad. Several 
days later people were still discuss- 
ing the speech as if it were a spec- 
tacular artistic show. 

All this could reflect a mere 
change in style, rhetoric and per- 
sonalities, with the problems of a 


leadership completes the rejuvena- 
tion of regional and local party 
organizations. 

Meanwhile, for tfie first lime 
since Khrushchev, the Soviet peo- 
ple have a leader who talks directly 
to them, who goes into the streets 
and factories, shops and homes, 
Mining on them to join him to “get 
the country moving forward 
again." 

Mr. Gorbachev is the first Soviet 
leader who is a genuine television 
personality and who adroitly uses 
the medium to his advantage. 

He is the first to push ms wife, 
Raisa, into the limelight as a trust- 
ed aide helping him mobilize Soviet 
women, who make up more than 50 
percent of the population. 

With the exception of old Bol- 
sheviks during Lenin's time, Mr. 
Gorbachev is the first Soviet leader 
who can deliver an eloquent and 
stirring one and one-half hour 
speech without a text 


centralized economy run by a huge, 
immobile and hierarchical bureau- 


immobile and hierarchical bureau- 
cracy remaining as intractable as 
ever. 

The Soviet economy is, in effect 
the entire society. Virtually all So- 
viet citizens work for the state. For 
more than 65 years this economy 
has been run from the center by 
people who held utopian assump- 
tions and tended to disregard the 
laws of marketplace economics. 

What Mr. Gorbachev and col- 
leagues plan to do is restructure the 
economy, especially the machine- 
tool industries; modernize industri- 
al output, introduce economic in- 
centives to increase labor 
productivity and set an overall and 
steady rhythm Tor the economy. . 

But, as he said on television, not 
only the economy has to be restruc- 
tured. “We are facing a major re- 
structuring of our attitude, too," be 
said. 

Speaking about Communist Par- 
ty officials, he warned that “every- 


body must change, from the worker 
to the minister to the secretary of 
the Central Committee,” to in- 
crease labor productivity. 

“Those who do not intend to will 
have to be moved from the road.'' 
he added. 

What the planned restructuring 
is going to involve has not been 
spelled out So far, the specific 
measures included some tough 
anti-alcoholism decrees, particular- 
ly to combat the curr ent wide- 
spread drunkenness at work, and a 
decision to distribute private plots 
of land to at least one million peo- 
ple each year. 

Mr. Gorbachev enjoys certain 
advantages that suggest be may be 
in a position to make a major im- 
pact on the country. First, be is 
relatively young. Second, he is the 
most visible of a whole group of 
relatively young men who have 
been rocketed to power and now 
form the Kremlin’s management 
team. 

Third, Mr. Gorbachev has an op- 
portunity to change the entire top 
echelon of the party at the congress 
in February. 

The congress will elect a new 
Central Committee, the party's top 
policy-making body, and there is 
little doubt that its new members 
are going to reflea the views of the 
new leader. 


"tc research minis ters agreed 
Tuesday to inaugurate a first phase 
in the research after minor differ- 
ences have been ironed out in the 
next two weeks. The project aims to 
identify needs and help in meeting 
tire competition for a $ 110-billion 
telecommunications market in Eu- 


guemllas. 

Iraq Raids Tehran, Vows New Attacks 

BEIRUT (UPI)--Iran said Wednesday that Iraq* 

Iran's official Islamic 

been killed and five TlreBatoC and 

shelling economic, industrial and mititaty installations in the sou 

for the Irmjan nto; 

aggressions Kbe escalated at any time and m an d«cuons. Baghdad 
has declared that it is determined to keep attacking areas fur from the 
border until Tehran agrees to peace talks. 


rope in the next decade. 

The Eureka project of President 
Francois Mitterrand, which calls 
for a pooling of European research 
on high technology in response to 
UJ>. and Japanese challenges, also 
received broad support at the meet- 
ing that ended Tuesday, the diplo- 
mats said. 

Ministers had feared a deadlock 
over the communications research 
could hamper discussion on the 
Eureka project by leaders of the 
10- nation community at their con- 
ference in Milan June 29 and 30. 

The Dutch economics minister, 
Gijs van Aardenne, said after the 
Luxembourg meeting that he ex- 
pected community leaders would 
endorse the Eureka plan at the con- 
ference: 


WJIUC1 UiiUi A UUtui “tj—— — I 

Craxi Would Resign if He Loses Vote 

— Primp Minister Bettino Craxi said Wedtresda; 


ROME (Reuters) — Prime Master Betuno Craxi said Wedneday 
rim he would resign next week if Italians approved a referendum 
sponsored by the opposition Communists which seeks to reverse acurb 

Sunday and Monday wodd^ s^ 
conihet of vast proportions" and seriously damage the economy, Mr. 

C ^1sodatist Erimerinte was asked wheiberhe would I reagn if the 
deiSXf ro restore the restrictors byparim^tt^ 
summer on the sliding scale wage indexation system. He replied. Yes. 


one minute later." 


Pope’s Assailant 
Describes How 


He Bought Gun 


IRS Head Endorses Reagan’s Tax Plan 

WASHINGTON (AP) —The head of the Internal Revenue Service on 
Wednesday endorsed President Ronald Reagan’s tax plan, declaring that 
the current system's unfairness encourages even modest wage earners to 
shelter income. , . ... . . 

“The current tax system is a patchwork tax code bud! around tax 
breaks for special purposes and special interests," IRS Comnusauner 
Roscoe L Eager Jr. tola the House ways and Means Committee. He said 
taxpayers “who do not live expense-account lives'^ subsidize executives 
who mix business and entertainment expenses. 

Mr. Eager said the current code was so mystifying that Americans 
believe “huge loopholes exist for those who can afford the lestl and 
wanting expertise necessary to find them.” and predicted that 

j An/I Fniemirinn ** I 


(Continued from Page I) 

prison for involvement in the same 
heroin deal. 


revision would relieve taxpayers’ “anger and frustration." He noted that 
789 threats and assaults were made against IRS workers in fiscal 1984. 
which ended last SepL 30, and that one employee was shot and killed 
while trying to enforce the law. 


Both men were detained by po- 


General Motors to Buy Hughes FortheRecord 

■inri Cm iif? lino NilV MOH* N/W Yflfll fltV 


(Continued from Page 1) 
he said in New York. “The whole 
string in the corral that Hughes has 
is exactly what GM needs to move 
in the direction we want to in the 
future.” 

Since becoming chairman of GM 
four yean agp. Mr. Smith has been 
transforming the company, stee. 


and software, that put the auto- but were later released. The cou 
maker into the forefront of high here is seeking to question them, 
technology. Mr. Smith has made no Asked by Judge Santiapichi wt 


and smuggling charges Nine more New York City hotels were struck Tuesday, increasing the 
iter released. The court total to 55 in the fourth day of the walkout by bellhops, clerks, house- 
ing to question them, keepers, bartenders and Other workers. (NYT) 

r Judee Santiapichi why Peter Shapiro, 13, the chief executive of Essex County. New Jersey. 


Shapiro, 13, the chief executive of Essex County. New Jersey. 


secret of his desire to add a large the men purchased the pistols, Kir. won the race Tuesday for the Democratic nomination to oppose Gover- 
defense contractor to the company. Agca replied: “We wanted to re- nor Thomas H. Kean's bid for re-election in November. f NYT) 


Allen E Puckett, chairman of sume our terrorist activities." 


The death toll in the soccer stwfiam fire in Bradford, England, last 


Hughes Aircraft based in El So- “He was thinking of doing some month rose to 54 Tuesday when a 57-year-ofd woman died of her injuries. 


gundo. California, said, “We see jobs/’ he said, referrin g to Mr. Ce- officials said. 


this as a great new opportunity lik. “He was a terrorist type. 


(Reuters) 


ing it into new fields to reduce its* We will continue our traditional 
dependence on the automobile in- activity in the aerospace industry. 


U.S. and Soviet arms control negotiators discussed intercontinental f 


Mr. Celik, who is at large, and nu d ear missiles Wednesday, a UJS. delegation spokesman in Geneva 


dusiry and trying to apply technol- 
ogy to all aspects of the company's 
traditional business as the world's 
largest automaker. 

Just last year. General Motors 
surprised the corporate world with 
a S 15 -billion acquisition of Elec- 
tronic Data Systems, a maker of 
sophisticated computer systems 


activity in the aerospace industry, Bekir Celenk, are being trial here ^ 
but we see new opportunities to in absentia. Mr, Agca has said that ’ 
move into a new direction in the the men obtained the guns to carry T® 


move into a new direction tn the toe men obtained tne guns to 
application of new technologies in out a series of terrorist actiot 
the automotive world." the Bulgarians aimed at desta 

Hughes is the seventh -largest ing Western government* 
U5. defense contractor, building Tracing his career in the ob 
S3.2 billion worth of missiles, radar channels of extremist Turkish 
systems and sophisticated electron- tics, Mr. Agca denied having 
ics for the Pentagon in 1984. an active terrorist, telling the - 


bemr ceienx, are oang inea nere ^ (Return) 

in absentia. Mr. Agca has said that " _ _ . , . . .... . , . , _ , 

the men obtained the guns to carry Tl* European Commission signed a S7i-million deal wife Sudan on 
out a series of lerroristactioos for Wednesday to restore a key railroad line to cany food aid from Port 
the Bulgarians aimed at desiabiliz- Sudan in the east to the worst-hit famine areas in the west (Reuters) 


I VM Ifi 

(&• R u# 

Millie 


INTERNATIONAL POSITIONS 


an active terrorist, telling the court 
that his fame as a terrorist was 
rooted largely in a confession he 
made in 1979 to baring murdered 


haring murdered 


White House Deplores Idea 
Of Weapons Ban on Jordan 


Abdi Ipekci, the editor of a liberal 
Turkish newspaper. Milliyei 


(Continued from Page 1) 
that a Senate resolution prohibiting 


Describing himself as “more an 

anus sales could u n dermine the 


ideologue thana militant terrorist," T~T ■ JS~r ^ 

he repealed earlier contentions that 


MV frKfcere with head ct- 
fleas in Amsterdam and 
Boston consists c/ 24 com- 
pantos in ffw USA, 
Singapore; U/C. tody, 
StyjOariand. Most Germany, 
and The Nathertands. Our 
compantes are active in the 
Held at gas fuittire repaic 
OEM work for the aero- 
engine manufacturers, the 
semiconductor and the toot- 
ing Industry 


he only helped organize Mr. Ipek- 
cfs killing. He said that he took the 


back the possibility of negotiations. 
“Such legislation is, in our view, 

A V n 


blame to protect friends who com- a serions mistake," said Edward P. 


untied the murder. 


Djerejian, a State Department 

lr^nn “I. S„ — . - - iL _ 


Mr. Agca was sealenced to death spokesman. **Ii is damaging to the 
in absentia by a Turkish court for gathering momentum in a process 

U. h. I I to MI,|4 nm.«nnhiu 


Mr. Ipekci’s death after he had es- to enact pre-emptive legislative 
caped from a Turkish military pris- hurdles." 


For our head office in Amsterdam we are 
looking for an 


U.S. to SeU 


“In this complex issue," he said, 
“progress entails risks, and when 
our friends arc prepared to take 
those risks, tiiey should be able to 


counton us. 


International 

Controller 


a J m /V • ny apewes, me wnne House 

Aljy&n/], V vTYHJl spokesman, said that Hussein had 
/XfgCVCUlTfiMlI “made it clear during his visit that 


time, sponsored by more than two- 
thirds of the members of the Sen- 
ate, is a dear signal to the adminis- 
tration of our desire to give priority 
to the Camp David process, and lo . 
oppose destabilizing arms sales in 
that volatile region of the world." 

He said the United Slates should 
not be providing “more sophisti- 
cated arms for Jordan, bur more 
sophisticated diplomacy in bring- - 
ing Jordan into the Camp David/* 
peace process." 

Because of the administration’s 
opposition, the resolution was 
dearly causing problems for some 
Senate Republicans. The majority 
leader, Robert J. Dole of Kansas, 


Lany Speakes, the White House said after a White House leadership 
okesman, said that Hussein had meeting: 


(Continued from Page 1) 
action against the United Stales 
under the General Agreement on 
Tariffs and Trade, the Geneva- 


mane it dear during his visit that “It seems to me we should not be 
be is committed to move this year pressing that resolution at this 


to, as he put it, 
amongst the parties 


negotiations 
to the conflict 


time. Senator Heinz indicated in 
the meeting that they were going to 


This position will report directly to the 
Corporate V.P. Finance and will oversee 
all aspects of the control function, 
business analysis, finance and treasure 
in all our 24 operations in 7 different 
countries. The individual who joins us 
mil also be actively involved in our 
intemationa] acquisition program and 
planning activity. 


As the person who joins us will spend 
the first year in Amsterdam and then be 
transferred in the same function to our 
Boston office, he/she needs to have U.S. 
nationality. Furthermore we are looking 
for someone with a mufti-national pro- 
duction oriented company. The posses- 
sion of a MBA or equivalent in 
Accounting of Finance is highly 
desirable, and a willingness to travel is 
a must 


Tariffs and Trade, the Geneva- 
based trade monitoring agency. 

The sources said that in an EC 
Commission meeting earlier 
Wednesday in Brussels, one com- 
missioner suggested that the EC 
establish an emergency fund that 
could be used to retaliate against 
the U.S. subsidy program. They 
said the suggestion was opposed by 
Henning Christ op bersen, the EC 
budget commissioner. 

Another official said, “We are 
concerned not only by the U.S. 
action but also by the price under- 
cutting aspect which risks destabi- 
lizing agricultural markets." 

The officials were attending a 
conference sponsored jointly by the 
U.S. mission to the EC and the EC 
Commission delegation in Wash- 
ington. 


between the Arab side, a Jordani- introduce « but not press it." 
an- Palestinian delegation, with Is- Senator Richard G. Lunar, an 
radon the other sde.’ " Indiana R»ublican wfaoisduir- 

We intend to support that ef- man of tbe Foreim Relations Com. 


M n> ■ , ■ M “^uuuuMui vruu U Ulna 

, Wc “told to support that ef- man of theToreign Relations Com- 
fon, and [the ^president told King mi tree, said after a luncheon of 
Hussein that be, the king, would be Republican senators that the reso- ■ 
able to count on the United States lunon was “not a good idea." 

pro ^ He he had appealed to tta 
terns which Jordan may face in Reoublican senafni7rK«mn rt rt 


uans which Jordan may face t 
those areas,” Mr. Speakes added. 


Republican senators not to support 
iL There are 26 Republican ana 43 


.T^oonbfoding resolution was 

introduced by Senators John gar asserted that some co-soonsors 


SrS^ a M ‘ K f n ^ y ’ aDenK> ' about how it migfc 
. ^deast situation 
Mr. Kennedy said that “the in- have some second 


iHcatethe, 
bat “titty 


r? 1 nave some second thoughts” about 

traduction of our resolution at this moving ah^d nowT^^ 


Pentagon Rift Is Reported 


Our compensation package, including 
fringe benefits, is competitive. There 
also are definite career growth oppor- 
tunities. 



(Continued from Page 1) 
Council that the president either 
postpone a decision or announce 
that the United Slates will put a 16- 
missile Poseidon submarine into 
dry dock, out or service. 

That would fall short or the tech- 
nical requirements of the treaty 

whicn UW thq, aU ! >1 J ' 


during the meeting of the National 
Swtinty Council. But the sources 
JjL'? usal lo endorse Mr. 
Weinberger's view reflected the 
prevailing military opinion that 4? r 
luting arms control would compli- • 
cate military planning. 

The sources said that the armv 


If you are interested in a job with poten- 
tial, please write in confidence stating 
your salary requirements to: 



UNIVERSITY 

DEGREE 




J.W. Lamain, Personnel Manager, 

N.V Indivers, Building 72, RQBox 7759, 
11T7ZM Schiphol (Amsterdam), 

The Netherlands. 


a«mars • MAsrars • doctorate 

**■*>* Ac a J wri c ; tUW fSipwi iw. 

S«nd detailed resume 
for free evaluation. 

PACIFIC WESTERN UNIVERSITY 
At# N. SOPulvwte BtaL 
LOS Ansetes, California 
90049,D*»t.aUiA. 


Mr. Weinberger wantstoVw a- ^ A. Gabri- 

Russians that they cannot mawav pacL . 

with what the Ufoted SufiJEK aSSkSTlf ^ * naval 
as treaty violation*. uP™ 0 ?*. James D. Wat- 


UEPUPiOOWE WITH 

ausNssreonf 

UKfj E»Oi wEDNtil-Af 
ANPriKX, IN Trtf MT 


sHBSseras sa=ss 

*** devd ?mwt ■ Reagan Is Undecided 

SSS-Ss -ssaauuy 

Pentagon sources said that On ^ATT? 1 ! muc ^ a ^ e bv the 

: S3KiteS,*Ss 

directly contradict Mr. Weinbereer U S soundin 8 

or offer . c ter »«™SSE 


M; 


i aaavJtibued o perations. 


- -jniiLj vi uil vnqcvu-inaiLj, 










U) 


* 4 ^U;ki 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


Page 3 £ 


ill s,. : - ; 

■ "Kts 


Rickover’s Gif ts: Gravy in the Navy U.S. Bolsters Military Stance in Central America 

» ■■■■■*' » « n-ll » <1 _» il n A 1 ■ _ 1 finn ■_ 1 If T* 1J 1 .. . 


Report Details ^Trinkets’ He Got From Sob Builder 


lr *.-\ — v, 


‘ Uv W\, 




By Michael Wdsskopf 

Washington Post Senior 

WASHINGTON — When Ihe 
General Dynamics Corp. staged 
sea trials for its nuclear subma- 
rines, it spared no consideration 
for Admiral Hyman G. Ricko 
ver. who was supervising the 
company’s work for the U.S. 
Navy in the 1960s and 1970s. 

Officials at the company’s 
Electric Boat Division in Grot- 
on. CoonecticDt, had Admiral 
Kickover^ civilian suit cleaned 
and pressed and set out khaki 
navy uniforms for him to wear 
during the outing. They provided 
newspapers, fresh fruit, lemon 
drops, best-selling bodes and 25 
to 30 pounds of fresh fish. 

The company’s concern for 
the admiral's comforts and con- 
venience was revealed Tuesday 
in a navy report. 

Admiral Kickover was also 
given 519JOOO worth of gifts to 
commemorate boat launchings 
and keel layings, according to the 
reporL These included items 
such as sterling sliver trays, 
which he often presented to par- 
ticipating dignitaries. 

In addition he received per- 
sonal gifts that included a set of 
the Encyclopaedia Britannica, at 
least 15 pans of nautilus-shell 
bookends and $1,125 worth of 
jewelry for his wife. 

The navy’s Ad Hoc Gratuities 
Board was empaneled last No- 
vember by Navy Secretary John 
F. Lehman Jr. to investigate alle- 
gations against Admiral Ricko- 
ver, and it presented its report to 
NO-. Tubman two weeks ago. 

The report prompted his deci- 
sion to issue a letter of censure to 
Admiral Kickover, cancel two 
General Dynamics contracts and 
fine the company the legal maxi- 
mum of 5676*283 — 10 times the 
amount of illegal gratuities esti- 
mated to have gone to the admi- 
ral. 

Although Mr. Lehman had 
earlier listed several of the gifts 
Admiral Rickover received from 
the company — the secretary 
called them “little trinkets” — . 
the report gives the first full ac- 
count of “this long-standing pat- 
tern and practice of corporate 
largesse.” 

“We believe the conduct de- 
scribed exhibits a lack of appre- 
ciation for the proper standards 


Pilots 9 Union, 
United Wage 
Video Battle 


By Peter Pal 

Washington Par Service 

WASHINGTON —United Air- 
lines is sending videocassettes to its 
nearly 5,000 striking pilots in which 
I \ i ... 1,1. company executives urge them to 
I £ U U 5 ( * end their 204ayold walkout or 
? risk being permanently replaced. 

s> . | lP ]y The video parcels mailed to pi- 

1 Hi JUith* lots’ homes this week represent an 

escalation in the battle for the loy- 
alty of the members erf the Air line 
Pilots Association. The union has 
been using videocassettes, a televi- 
sion production crew and satellite 
. “teleconferences” to mpinurin soli- 
darity within its ranks. 

“This is a public relations war as 
much as anything else," said Chuck 
Novak, a United spokesman. 

... “We think their sending out the 
Odco shows that they are getting 
desperate," said David Jewell, a 
union spokesman. “They are hav- 
ing a hard time getting pilots to 
cross the line, ana they are not 
having an easy time getting re- 
placements." 

The union said 6 percent of its 
pilots, whose average yearly salary 
is $86,000, have crossed picket lines 
since the strike began May 17. The 
strike has resulted in the grounding 
of 85 percent of United's flights. 

The use of television and video 
production is increasingly common 
among U.S. labor unions and com- 
panies seeking to communicate 
with the work force. But United’s 
iioifrontatioa with the pilots onion 
presents the most coordinated 
use to date of video technology 
during a labor dispute, said Larry 
Kirkman, executive director of the 
Labor Institute Tar Public Affairs, 
the AFL-ClO’s S3 milKon-a-year 
video operation. - 
Mr. Kirkman said the prolifera- 
tion of video recorders and the ease 
of satellite hookups have created an 
“electronic union hall” 

The Air Lines Pilots Association, 
among the wealthiest trf onions, has 
spent more than 5500,000 on three 
slickly produced satellite confer- 

/ , .J ences designed to maintain support 
for the strike among unk» families. 
v \ f ; ■* Each conference has been beamed 

to up to 15 dries. 

Mr. Jewell said the union has 
■'aired a full-time film crew at its 
Chicago strike headquarters, where 
it produces weekly videocassettes 
that are muled to more than 500 
pilot “group leaders.” Each group 



t&'- & ’ *3 


By Bill Keller 
and Joel Brinldey 

New Yt* b Tim es Service 

PANAMA CITY — In the last 
two years, the UJS. Southern Com- 
mand, from its tropical hilltop 
headquarters here, has presided 
over the establishing]! of a sophis- 
ticated military apparatus in Cen- 
tral America. 

While President Ronald Reagan 
and his top advisers say the use erf 
U.S. ntiUtaiy force in the region is 
an unlikely and undesirable last 

resort, the military is prepared for 
contingencies, according to mili- 
tary officers and diplomats in 
Washington and Central America. 

Authorities say this has been ac- 
complished with a vigorous tempo 


at the Southern Command in a 
more ominous light. 

Eugene J. Carroll Jr, a retired 
admiral who is direct of the Cen- 
ts for Defense Information, a 
group often critical of the Penta- 
gon, wrote last year that “accelerat- 
ing U.S. military preparations” in 
Central America “suggest that the 


Hated fteg if ite ii uKuu l 


A Distingirished Service Medal presented to Admiral 
Hyman G. Rickover at a 1961 ceremony was admired by 
Navy Secretary William B. Franke. The ceremony, at 
the shipyard of the General Dynamics Corp. in Groton, 
Connecticut also commemorated the sixth anmversary 
of the bmeMiig of the nodear submarine Nautilus. 


governing employees of the 
United Stales and those who 
deal with them," said the report. 

Admira l Rickover, 85, woo re- 
tired from tbenavy in 1982 after 
a 60-year career, could not be 
reached. He has previously ac- 
knowledged receiving gifts from 
General Dynamics but has main- 
tained that they did not influ- 
ence his official judgment. 

Included in the report are brief 
statements by General Dynam- 
ics officials, including Joseph D. 
Pierce, former general manag er 
of Electric Boat, who denied any 
attempt to gain favorable treat- 
ment from Admiral Rickover. 

Mr. Pierce acknowledged, 
however, that he had instructed a 
special assistant to “provide Ad- 
miral Rickover with whatever he 
needed.” 

“I had favors done for Admi- 
ral Rickover in order to improve 



- , i ^ 

If I ’ A ' ; 


his working conditions, or be- 
cause of my persona] respect for 
him, or because of a desire to 
facilitate working relations with 
him so that both he and the com- 
pany could work together more 
effectively and with less strain," 
Mr. Pierce said. 

Some favors often resulted 
from requests by Admiral Ricko- 
ver, according to the report. 
When the admira l asked for a 
shower curtain he had admired 
in a hold. General Dynamics of- 
ficials bought six to 12 of them 
for him. 

The company’s workshop was 
often pressed into service to ac- 
commodate A dmir al Rickover. 
For example, it. laminated 550 
bills to make them float, for a 
party for Admiral Rfckover’s 
wife. And it made 15 to 30 trays 
from the teak deck of the Nauti- 
lus, the first nuclear submarine: 


ing areas and listening posts, the 
creation of an elaborate intelli- 
gence network and a major effort 
to fortify allied armies. 

The U.S. military presence, once 
devoted almost exclusively to de- 
fending the Panama f2anal_ has 
been expanded in the name of pro- 
tecting stability throughout Latin 
America. More recently, the offi- 
cials say, its focus has narrowed on 
Nicaragua, which the Reagan ad- 
ministration believes is the main 
threat to peace in Central America. 

The military officers and diplo- 
mats said in interviews that the 
buildup of the Southern Com- 
mand, one of six regional com- 
mands of the U.S. military world- 
wide, is now largely complete and 
that, it is adequate to cany out any 
likely emergency in the region. 

These officials alsn challenged 
what they called the apparently 
popular belief that if the United 
States were drawn into direct mili- 
tary involvement in Central Ameri- 
ca, it would inevitably lead to a 
quagmire like the Vietnam War. 

According to US. military and 
intelligence assessments presented 
at the highest levels of the govern- 
ment, the United Stales could 
quickly and easily rout the Sandin- 
ists who govern Nicaragua. 

U.S. military officials say the ac- 
tivities at the Southern Command 
is prudent preparation if U.S. in- 
volvement becomes necessary. 

“I can say with some confidence 
that the exercises have provided os 
with a sig nificantly improved capa- 
bility to operate in the region.” said 
Colonel Charles Pearcy, who heads 
the command’s task force in Hon- 
duras. 

Some critics, on the other hand, 
have long seen the muscle-flaring 


President Reagan to send U.S. 
troops into Nicaragua.” 

The decision to use military force 
would be made in Washington, but 
the preparation and execution are 
the responsibility ofrtbe Southern 
Command, known as Southcom. 

It was in 1983 that the Southern 
Command’s importance began 
growing in earnest. That year the 
administration, fighting one anti- 
government insurgency m El Salva- 
dor while underwriting another in 
Nicaragua, without fanfare rewrote 

the co mman d’s missi on Statement 

Ii was committed, among other 
rcspooribilities. to “counter Soviet 
and Cuban militarization and other 
destabilization under takings " 

When General Paul F. Gorman, 
the head of Southern Command, 
arrived in P anama in 1983, he 
promptly disbanded the army’s 
mechanized infantry unit and sent 
to Washington for experts in intel- 
ligence, communications, aviation, 
medicine and construction. 

Within a year of General Gor- 
man’s arrival Southern Command 
had begun to build or enlarge eight 
airfields in Honduras. 

At Palmexda, in the central 
highlands west of Tegucigalpa, the 
largest airstrip was dedicate last 
February. It ean h-mdlg any plane 
the U.S. military owns. 

Much of the more recent activity 
at Sou them Command is not visi- 
ble at afi, involving mtelligeace- 
gathering. 

General Gorman, in Senate testi- 
mony in February, a few days be- 
fore he retired, said that he had 
built “a very dose working rela- 
tionship with the entire intelligence 
community" and that he met regu- 
larly with CIA station chiefs in nis 
region. 

A congressional source said that 
within the last several months the 
National Security Agency had in- 
stalled “the best technology we’ve 
got" at electronic eavesdropping 
posts on Tiger Island in the Gulf of 
Fonseca near Nicaragua and other 
locations. 

In manpower, the Southern 
Command is the smallest of the six 
commands, with about 9,600 peo- 
ple stationed at various installa- 
tions in Panama and an average of 


1,200 troops in Honduras. Howev- 
er, though its permanent staff is 
small, it would draw troops, in 
event erf conflict, from Ihe U.S: 
Readiness Command, based at 
MacDiU Air Force Base in Florida, 
and the U.S. Atlantic Command, in 
Norfolk, Virginia, which patrols 
the Caribbean and the Atlantic: 

Since 1983, the Pentagon has 
added several major war games a 
year, testing in Honduras virtually 
every wartime contingency that 
might arise in the region. 

The exercises, US. officials said, 
have worked extensively on two 
abilities that would be essential in a 
Central American conflict: moving 
men and equipment to the region in 
a hurry and working in tandem 
with the Honduran Army, which 
U.S. officials say would be a Ukdy 
partner in any U.S. military enter- 
prise. 

In addition. Southern Co mman d 
has helped run a gradually increas- 
ing program of miliiaiy aid and 
advice for Nicaragua’s neighbors, 
El Salvador, Honduras and Costa 
Rica. 

Whether these preparations are 
enough to assure American success 
in any military operation that 
might arise is still a matter of lively 
debate. 

In Nicaragua, where an Ameri- 
can invasion is a topic of constant 
speculation. Commander Julio Ra- 
mos Argnello, the army chief of 
intelligence, said “this would be a 
kind of Vietnam War.” 

Bui in interviews, U.S. military 
officers and government officials 
familiar with the region contended 
that the Sandinists lacked the nrili- 
taiy skills, the popular base and the 
supply lines to prolong a guerrilla 
war in any U.S. invasion. 

Intelligence officers said that 
with mhumal risk. U.S. pilots could 
destroy the grail Nicaraguan Air 
Force, radar, artillery, tanks, sup- 
ply depots and command centers. 

According to a source who has 
discussed the subject with him, 
Colonel W illiam C. Comee Jr., the 
director of operations at Southern 
Command, has estimated that it 
would take the United States two 
weeks to gain control of 60 percent 
of the Nicaraguan papulation. 

Another U.S. political-military 
officer in the region said the most 
plausible scenario in the event of a 
full-scale conflict would be this: 
“The U.S. would come in heavily 
for a month or so, mostly with an 
strikes against major facilities. 
Then a new government would be 
put into place, and it would come 
with its own army." 


It would be up to the new gov- 
ernment, presumably organized 
from the existing democratic oppo- 
sition, to pursue the Sandinists, 
several military analysis said. 

One UJL military officer who 
has briefed members of the Nation- 
al Security Council asserted that 
the Nicaraguan people would rise 
iq>in support of an American inva- 
sion and that neighboring armies 
would eagerly assist 
Commander Ramos said in an 


Chi Minh Trail used to deliver - 
Vietcong supplies from the North. 
In Nicaragua, land supply routes' 
would be through mountainous * 
jungle. U.S. forces would police air . 
and sea routes. - 

Other officials, noting that the 
United States had been unable to 
cut off aims traffic between Nica- 
ragua and El Salvador, were not as 
confident that blocking arms to\ 
Nicaragua would be easy. 


interview that this was a dangerous u . 

assumption. The initial U.S. as- Mexican Leader Visits Spain 


sault, he said, would kill thousands 
of Nica raguans, uniting the dtizen- 
ly in their outrage. 

Another problem for the Sandin- 
ists, according to several U.S. mili- 
tary analysts, is tha t Nica ragua has 
□o counterpart to Vietnam’s Ho 


United Press Intemnnonal 

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begin a five-nation European tour ■ 
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Reagan Renews Drive for Nicaraguan Rebel Aid 


By George Sfcdron 
and Karen Tumulty 

Lot Angeles Tuna Service 

WASHINGTON — President 
Ronald Reagan has renewed his 
campaign to restore U.S. nommK-. 
tary aid to Nicaraguan rebels, hint- 
ing that he might compromise with 
Congress ova his earlier insistence 
that the help be channeled through 
the Central Intelligence Agency. 

Mr. Reagan told Republican 
congressional leaden at an hour- 
long White House meeting Tues- 


day that this could be “possibly our 
last opportunity" to pressure Nica- 
ragua's leftist Sandinist govern- 
ment into changing its polities, 
Larry Speakes, the chief While 
House spokesman, said. 


At the same time, Mr. Speakes 
accused the Nicaraguan govern- 
ment of “increased aggressive be- 
havior" against Costa Rica and 
Honduras since the Democratic- 
con trolled House killed a White 
House proposal to provide $14 mil- 
lion in aid to the anti-Sandinist 
rebels during the current fiscal 
year. 

President Reagan is now re- 

1985but also for fiscaH&Kj, which 
begins Ocl. 1. 

The House Republican leader, 
Robert H. Michel of Illinois, said 
after meeting with Mr. Reagan that 
a trip to Moscow by Nicaragua’s 
president, Daniel Ortega Saavedra, 
shortly after the House rejected 
Mr. Reagan’s funding request, “has 
changed a great many minds” 


among Democrats who previously 
had opposed aid. 

- .“They’re in a very embarrassing 
position now and would like to 
come aboard," be said. 

The first congressional vote on 
President Reagan's new aid request 
will be held this week in the Senate. 
The measure, sponsored by Rich- 
ard G. Lugar, Republican of Indi- 
ana and chairman erf the Senate 
Foreign Relations Committee, and 
Senator Sam Nunn, Democrat of 
Georgia, would provide the rebels 
with 514 milli on in “h umani tarian" 
aid during the present fiscal year 
and as much as 526 tmlhon in fiscal 
1986. 

On Thursday, the House is ex- 
pected to vote cm a proposal by 
Republicans and moderate Demo- 
crats to provide $27 million in aid 


for the rebels through next March 
31, and specifically forbid the CIA 
to administer it, 

A rival measure by the House 
Democratic leadership would go 
even further, taking the aid com- 
pletely out of the hands of the U.S. 
government and requiring that it be 
administered through the United 
Nations and the International Red 
Cross. In addition, the aid, limited 
to SI4 million, could be provided 
only to Nicaraguan refugees. 

Although President Reagan 
would prefer that the aid be distrib- 
uted through the CIA, Mr. Speakes 
said, “we understand the legislative 
realities.” 



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The anion released this 
photo that It says shows a 
United pilot, disguised as a 
World War I flyer, crossing 
the picket Kne at O'Hare 
Airport in Chicago. 

leader invites about 10 pilots to his 
home for discussions. 

Mr. Jewell said the union videos 
include “news and propaganda" as 
well as financial advice, informa- 
tion on health insurance and foot- 
age of strike-related events. 

Uni ted’s video includes a May 28 
news conference outlining the com- 
pany’s position on the strike, in- 
dueling executives' plans to hire 
300 new pilots per month to rebuild 

the airline. 

The union piUwl the strike in 
response to United's attempt to in- 
augurate a two- tier wage system 
that would have paid new pilots 
lower wags than veterans. That 
conflict was resolved when both 
sides approved a Iowa pay scale 
for new pilots that will remain in 
place for five years. Arbitrators win 
decide after that whether the sepa- 
rate scale will be maintained 
But the talks broke down later 
ova back-to-worfc issues, including 
United’s refnsal to hire 566 newly 
trained pilots who declined to cross 
|»cka^Iin« wh^tte strikebe^uL 

esti m ated 250 union members who 
crossed picket lines by giving them 
higher seniority than veteran pilots 
who went on strike. 

The National Mediation Board 
said Tuesday that it had called both 
rides to resume negotiations here 
Thursday, and the union said it 
would, participate. A United 
spokesmen said the airline would 
announce its response Wednesday. 


U.S. Discusses Force in Nicaragua 


(Continued from Page I) 

Ikle said, “We know from experi- 
ence that that doesn’t work." 

In general, the Reagan adminis- 
tration has demanded that Nicara- 
gua demilitarize, cut its ties with 
the Soviet Union and Cuba and 
change its form of government to a 
pluralistic democracy. 

But many officials in both the 
Nicaraguan and U.S. governments 
believe the prospects are remote 
that the Sandinists wiD adopt po- 
licy changes that would be satisfac- 
tory to Ihe United States. 

“They are hellbent on pursuing 
their policy," Mr. Ode stud. “The 
idea that you can strike a deal with 
them seems unrealistic.” 

In a speech in April, Mr. Ortega 
said: “The United Slates still 
doesn't understand that this is an 
irreversible revolutionary process. 
Here, there can be no backward 


tration official said: *Tve never 
been able to see how that kind erf 
phased operation stops because it 
sets off an action-reaction. If we hit 
the airport and maybe k£Q 80 or 90 
people, they could come at the em- 


ln the months and years ahead, a 
Senate aide said, if further diplo- 
matic sanctions are tried and rail, 
the military option may seem more 
tempting. “If you try everything 
and none of it works,” he said, 
“then eventually you have everyone 
nibbling at the same bait." 

Asked under what dreams! ances 
the United States might attack Nic- 
aragua, U.S. and Nicaraguan offi- 
cials say the line is most dearly 
drawn against the acquisition by 
Nicaragua of high-performance 
warplanes. 

The idea is that American war- 
planes would destroy the new 
planes and try not to hit anything 
else. Then in theory the att ack 
would end. But a senior admrnis- 


In Managua, Commander Julio 
Ramos Arguello, chief of intelli- 
gence for the Nicaraguan Army, 
said, “If the airplanes arrive, and if 
they bomb us, obviously we will be 
doing something about it.” 

Another circumstance would be 
the establishment of a Soviet bloc 
miliiaiy base in Nicaragua. 

A senior administration official 
said: “Access for Soviet Backfire or 
Bear bombers, port rights — any 
land of Soviet mOitniy access, even 
without the presence of weapons 
systems. That would be a thresh- 
old” Nicaraguan and Soviet offi- 
cials say they have no such, plans. 

Still another circumstance: ad- 
ministration officials say, would be 
the consolidation of Nicaragua’s 
government into what admimkra- 
tion officials often call “a second 
Cuba." meaning a heavily con- 
trolled Soviet bloc dictatorship 
that actively promotes Marxist rev- 
olution elsewhere. 

Mr. Ikle said, “Even members of 
Congress say they are not going to 
permit a second Cuba." 

With “a second Cuba," Senator 
Lugar said "we might be invited” 
by Nicaragoa’s neighbors to invade 
“as we were invited m the East 
Caribbean." Before the invasion of 
Grenada in October 1983, the lead- 
ers erf several Caribbean island-na- 


tions formally requested U.S. mili- 
tary intervention. 

“In public and in private,” Sena- 
tor Nunn said the other countries 
of Central America “would be 
strongly opposed” to a U.S. invar 
sion of Nicaragua. 

But many U.S. miliiaiy and dip- 
lomatic officials and others in the 
region have reported a different 
view to their superiors in Washing- 
ton. 

A senior diplomat in San Josfc 
asserted that “an awful lot of Costa 
Ricans” would in fact welcome an 
invasion. 

In Honduras, President Robert 
Suazo Cdrdova has been quoted as 
saying that Nicaragua is “like a 
cancer: the only cure is to cut it 
out.” 

There is also a large and growing 
body of opinion within the admin- 
istration that the majority of Nica- 
raguans would welcome an Ameri- 
can invasion, several UJ5. officials 
said 

An American intelligence officer 
who has interviewed dozens of peo- 
ple in Nicaragua said: “What the 
people teD me is ‘we’d get out of 
your way and let you take care of 
the Sandimsias’ " if U.S. troops 
landed The biggest problem U.S. 
forces would face, he added, would 
be preventing “severe retribution" 
against Sffldmisl officers. 

A spokesman for the Sandinist 
government, Maria Christina Ar- 
guello, said: “They may criticize 
the government now because of the 
economy and the shortages" of 
food and other items. “But when 
there is an emeigency, you can be 
sure they will take up arms." 


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Page 4- 


THURSDAY, JUNE 6. 1985 


Heralb 


INTERNATIONAL 


PnUUmf With TV Vn Yorfc Tima and TV WMhmgftm Port 


Taxing a Bit More Fairly 


Sribune Soccer: The British as Europe’s Bad Children 


In seeking tax reform at this point in his 
presidency, Ronald Reagan may have tack- 
led things in the wrong order. 

It would have been more useful had he 
introduced a so-called neutral tax reform — 
redistributing the tax burden in the interests 
of justice and economic efficiency, not for 
revenue purposes — early in his first term 
and gone slow on his initial dash to lower 
taxes all around. The leap over the high tax 
wall left the economy with grazed knees: It 
dragged the budget into huge structural defi- 
cit and did not, despite its supporters' asser- 
tions, stimulate higher private saving from 
which the deficit could be financed. So 
America had to borrow massively from 
abroad, which sem its exchange rate into 
vertical takeoff and rendered many of its 
producers uncompetitive. 

The present tax-revision proposals are 
generally sensible, though less than ideal. 
Ostensibly aimed at reducing the tax burden 
on the poor, the honest and the small by 
closing loopholes for the wealthier, the plan 
already concedes more to the self-interest 
lobbies than had been hoped. The main 
beneficiaries of lower taxes would be some 
of the poor — not the very poor who pay no 
taxes but whose benefits have been truncat- 
ed in recent years — and the rich. Business, 
in total, will have to contribute more, but 
whether in the long run this is a shift of real 
after-tax income From corporations to indi- 
viduals is uncertain: Higher business taxes 
have the habit of being passed on to the 
individual through higher prices, particular- 
ly when times are reasonably good. 


Proper Aid to the f Contras’ 


Again. Congress is grappling with the Nica- 
raguan “contras,” whom it left in April with- 
out American support The choice in the 
House is between the Democratic plan of Rep- 
resentative Michael Barnes and the Republi- 
can plan of Representative Robert Michel. 
The Barnes plan takes die American finger off 
the trigger of the insurgency: It repudiates the 
Reagan resort to force, bars military aid and 
makes relief available to contras only as inter- 
national wards outride Nicaragua. The Michel 
plan keeps the American finger on the trigger: 
It offers “h umanitarian* * aid — a euphemism 
for logistical aid to a force whose military 
needs are met by others —to contras operating 
inside Nicaragua. Both plans undertake to 
facilitate diplomacy, encourage a Nicaraguan 
political dialogue and induce a purge of the 
contras' Somoza and c riminal dements. 

The Michel plan appears to be a moderate 
option. It keeps faith with Nicaragua's good 
democrats without directly refueling a contro- 
versial military intervention. But it is one- 
sided on the wrong side. It rests explicitly on 
the threat of renewing support for an interven- 
tion discredited by four years of experience. 

The Sandinists have used the intervention to 
rally Nicaraguan opinion and substantial in- 
ternational opinion to an otherwise flagging 
cause. The contras have inflicted damage in 
the countryside but have yet to apply anything 
near the pressure that would compel the re- 
gime to “say uncle," President Reagan’s stated 
goal. The likeliest danger now is a sharpening 
of Sandinist hordes' dashes with Honduras 
and Costa Rica. U.S. involvement, to protect 
these clients from reprisals brought on by their 
support of American policy, is a growing risk. 

The Barnes plan might not force many in- 
surgents to quit Nicaragua. Those who did 


leave; however, could stay constituted as a 
military force while on relief, like Afghans in 
Pakistan. The Sandinists would understand 
this. The Sandinists also understand a second 
Barnes lever: His plan carries only until OcL 1 
and then promises the president an expedited 
hearing on a new proposal This would provide 
a space, and incentives, for bargaining. 

The adminis tration's unilateral embargo of 
Nicaragua let Managua play David to the 
American Goliath. I jrinx, Russians and mem- 
bers of the Atlantic alliance are filling in. We 
still fed the embargo was a useful expression 
of the U.S. co mmitmen t to ensure that the 
Sandinists respect their neighbors, loosen their 
ties to Havana and Moscow and move toward 
pluralism. In any event, a stick, once applied, 
becomes a potential carrot. The coming 
months must be used for a diplomatic effort 

The immediate need is to head off a widen- 
ing war at Nicaragua's borders. This can best 
be done by imposing the border controls draft- 
ed by Mexico and its partners. Nicaragua has 
long been ready. Honduras and Costa Rica 
have held up, at American bidding, largely 
because mutual respect for borders would cut 
off the contras. This is the moment to end this 
dangerous game Once borders are formally 
sealed, the questions of levels of arms, advisers 
and maneuvers become more manageable. 

And what of Nicaragua's good democrats? 
Intervention has not helped them, though the 
Barnes plan does implicitly keep that option 
available. Within Nicaragua, enough plural- 
ism still remains to spark a resurgence. The 
softening of war hysteriacould help, especially 
if it permitted Nicaragua’s Latin neighbors 
and other foreign democrats the opening in 
Managua that has largely been denied than. 

— THE WASHINGTON POST. 


Other Opinion 


A Long Mideast Process 

If the A men can- Jordanian -Palestinian 
meeting comes off. it will clearly be intended 
by both sides as a prelude to direct Israeli- 
Arab negotiations, though much will depend 
on the credibility of the Palestinian state- 
ments. These are the very methods Israel has 
always cunvased as the only proper ones for 
rescuing the conflict. 

1 Prime Minister Shimon] Peres, though he 
may play hard to get for tactical reasons, will 
surely be anxious to take up the [Jordanian] 
king's offer, and may not be too sorry if he foils 
to carry his foreign minister along with him. 
Yitzhak Shamir, after all. is east as Mephis- 
iophdcs to Mr. Peres’s Faust, At some time 
before CVtobcr 1986 Mr. Peres will want to 
part company with him. and invite the elector- 
ate to judge between them. The two sides are 


approaching decisions they have avoided for 
nearly 40 years. We should not demand, or 
expect the earth from Israeli or Palestinian in 
what will be a long, delicate process. 

— The Ttmes (London). 

Time to Rebuild the Pentagon 

This should be the year in which Congress 
comes to grips with the need to reorganize the 
Pentagon. Legislators and the public are near- 
ing an end of their patience with a system that 
received 49-percent increases, after inflation, 
during President Reagan's first term and now 
devours S300 billion annually, yet can't quit 
crying. The complaint about ending Pentagon 
waste and abuse does not .cut to the heart of 
the problem. The issue is restructuring the 
military command, especially the Joint Chiefs. 

— The Boston Globe. 


FROM OllR JUNE 6 PAGES, 75 AND 50 YEARS AGO 


1910: AnfrTrusi Suits Hurt U& Slocks 
NEW YORK — It is believed that the bottom 
has not yet been reached in Slock Exchange 
operations. The present situation has nothing 
to do with the country’s general prosperity, 
which continues unabated. The cause is the 
inability of the financial magnates to judge 
how the government's anti-trust proceedings 
will end. This feeling must continue until the 
Supreme Court delivers its verdicts on the 
Tobacco and Oil Trusts suits next winter. 
There ore 1200 corporations with more than 
SI 0,500,000 capital who are liable to penalties 
under the Sherman Anti-Trust Law. If the 
Court holds the Tobacco and Oil Trusts to be 
illegal, this fact places financiers in a highly 
nervous sure and makes the Stock Exchange 
subject to depression on the slightest indica- 
tion of renewed anti-trust warfare. 


1955: HuH Urges Effort on Free Trade 
PARIS — Secretary of State Cordell HulL who 
has pursued his policy of seeking to break 
down barriers io trade undeterred by the con- 
flicting clamor, criticism and theories of other 
members of the Cabinet, has made a fresh 
sutemem of sound policy, which happens to 
be virtually in the form of an invitation to 
other notions to cooperate with the United 
States in encouraging commerce. He does not 
go so far as to call for a new international 
conference. Bui he does call for what be terms 
“simultaneous effort" to re-establish price 
structure. lo secure currency and exchange 
stability, and to remove quota restrictions, 
import licenses, exchange controls and other 
obstacles to trade. Mr. Hull's proposal follows 
an appeal for currency stabilization by Secre- 
tary of the Treasury Henry Morgenthau Jr. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY, Chaimttm 1958-1981 

KATHARINE GRAHAM. WILLIAM S. PALEY. ARTHUR OCHS SULZBERGER 

Co-Ouiirmm 


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‘ OHconRrniea operations. 


Suddenly changing a ramshackle tax sys- 
tem into a perfect one is about as easy as 
making a silk purse out of a saw’s ear. The 
present imperfect reform risks being wa- 
tered down further as the lobbies operate in 
Congress. This is why we regret that reform 
was proposed so late in the administration's 
life, when fewer politicians will be ready to 
do favors for a departing president 

When pressure is exerted to weaken the 
reform still further, should the administra- 
tion yield, intent on getting some of its 
proposals through and hoping to fill the 
gaps later? Or should it resist the pressure at 
the risk of running out of time? 

One cannot tamper continuously with a 
tax system without impairing the confidence 
on which the prosperity of a market econo- 
my depends. Corporations and individuals 
need to know with some certainty their fu- 
ture tax liab ilities. Had the present reforms 

— or a stronger version of them — been 
introduced early in the firsUerm, they could 
have been fought over during a reasonably 
tong period Now they must be hurried 
thro ug h , with diminishin g bargaining power 
among the proponents and growing strength 

— or grease — to the elbows of the lobbies. 

The strategy has been wrong. There are 

flaws in the proposals. But they are belter 
than nothing. All politicians who clamor for 
a better American tax system (it is already 
better than in most countries) should sup- 
port them and resist the onslaught of the 
pressure groups who see their favorite loop- 
holes being tightened. 

INTERNATIONAL HERALD TRIBUNE 


ning, we see aggression in Beirut and aggress on 
in a Brussels soccer stadium. 

In the Middle East, the aggression is not mind- 
less; it is politically and religiously motivated. In 
Brussels, we saw a display of lethal stupidity. 

Meanwhile, the dead are dead and are past 
wondering why they had to be killed. As T.S. 
Eliot pul it, they are folded into a single party 
and accept the constitution of aloice. 

People of my generation were brought up to 
believe that organized games were a means of 
purging animal high spirits which might other- 
wise be harmful to society. That was supposed to 


an opportunity for unleashing partisan violence, 
and we use protective devices to prevent the 
violence from going too far. Riot squads, mount- 
ed police, barbed wire, bride walls proclaim that 
football is no longer a family entertainment. It is 
an excuse for a containing wall. 

The supporters of the Overpool teamplaying 
in Brussels — when 38 persons were killed in a 
wall collapse when the Liverpool fans charged 
supporters of Juventus, an Italian team — did 
not hate the Italian fans. They bad nothing 
against them in terms of usual pretexts for mass 
aggression. Nobody could write a book about 
Liverpool wanting to wage war against Turin. 
The British were not even bring chauvinistic 
toward the Italians. 

There was merely an excess of animal energy 
that found a focus and a target. Any focus and 
any target would do. An international soccer 
match provided a marvelous pretext for violence: 
Young people like violence. They cannot use 
their energy to create so they use it to destroy. 

The Liverpudlians did not mean to take hu- 
man lives. They did not know what their aggres- 
sion would lead to. They just did not think. They 
were and are stupid. 

Unfortunately, they represent merely the lat- 
est and most destructive wave in a shameful 
history. As an En glishman living on the conti- 
nent, 1 am sick sometimes of belonging to a race 
that, in the name of sport, exhibits on foreign soil 
a pretty wide spectrum of human degradation. 


By Anthony Burgess isStherCTcto^ nor rugby has 

ttatffecL Anthropologists ieU us •*» Mhe btg 

The French and the Belgians the Germans round^ after the monarchy was 

wonder what has got mto the British. They are ^ked J bend of Oliver Crora- 

viisnL I wouldfed more tolerant of aU thisff in the game 

Why is rtiml tot fatal to * 

»h». h*. gone wrong m* ihe race once 

— urn. It would have been a fitting tribute of public 

TheFrtnchandtheBelgums 

^thetkrnumsuondendua 

has sot into the British. They to do so. It was not morally right. Morality 

i* « . 1 * f*. . should have decreed a cancellation of the game. 

are dueusted by flailing fiStS, Some television channels in effect canceled it 

. . . i by refusing to show it. It was a good game, but 

knhjes^aining and vandalism. fwofus^abletoenjoyiLWecouldnthcto 

thinking of certain people who had been booted 

led for its gentleness, good sense, humor and into the stadium of the awt - ^ 
lerance. We are told that the unthinking British We have not finished wi lion in 

sent being part of Europe and show their organization gowning McnrownnA 
Kntmentm minging out knives and impro- England announced, after its head had *1*1 
led truncheons against harmless Europeans. Mrs. Thatcher, that no team under its jurisdic- 
iat hardly explains the aggression that is a tion would play in Europe next reason. Laicrjhe 

jular element of spectator response on British soccer association governing European soc«r 
iL The game itself, whcrever it is played, has banned English dub teams ^defiwtdy from 
come an excuse for cracking skulls. European competition. But all this does not 

The leftist sociologists may interpret stadium really solve the problem of soccer violence, 
jlence as an expression of resentment at the Wherever and whenever the British do play, all 

KLservaljvc government of Prime Minister that can be done is to impose more and more 
argaret Thatcher and its acquiescence in grow- techniques of containment: more poUce. more 
> unemployment. The young, they will say, are barbed wire, more guns at the ready. The game 
istrated and have to vent their rage somehow, itself should be banned, but that is not going to 
ige is best vented when you become part of a happen. Any British government pondering the 
)b: You forgo personal responsibility for it outlawing the great game will have to fear work- 
d have the ddicious sensation of stripping ing-dass displeasure and a loss of votes, 
ursdf of inhibitions and morality you learn at All we saw in Brussels was abysmal stupidity, 
ur mother's knee. The rage becomes both ab- And against that, not even the gods can fight. 

act and personally satisfying. Mob violence — . 

s always been part of world culture. Britain's This comment, by the author of A CwckM'OTK. 
*at achievement was traditionally the rep res- Orange , " “This Man and Music" and other books, 
n of it through concepts such as fair play. war contributed to Newsday. 


noted for its gentleness, good sense, humor and 
tolerance. We are told that the unthinking British 
resent being part of Europe and show their 
resentment m bringing out knives and impro- 
vised truncheons agains t harmless Europeans. 
That hardly explains the aggression that is a 
regular element of spectator response on British 
sou. The game itself, wherever it is played, has 
become an excuse for cracking skulls. 

The leftist sociologists may interpret stadium 
violence as an expression of resentment at the 
Conservative government of Prime Minister 
Margaret Thatcher and its acquiescence in grow- 
ing unemployment. The young, they will say, are 
frustrated and have to vent their rage somehow. 
Rage is best vented when you become part of a 
mob: You forgo personal responsibility for it 
and have the ddicious sensation of stripping 
yourself of inhib itions and morality you learn at 
your mother's knee. The rage becomes both ab- 
stract and personally satisfying. Mob violence 
has always been part of world culture. Britain's 
great achievement was traditionally the repres- 
sion of it through concepts such as fair play. 


For a More Rational Debate on Military Spending 


By Sam N unn 

The writer, a senator from Georgia, 
is the ranking Democrat on the Armed 
Services Committee. 

W ASHINGTON — For the past 
four years the UJS. national 
security debate has focused on two 
underlying themes: bow much the 
defense budget should grow each 
year and how much U.S. military 
forces have improved since President 
Jimmy Carter left office. 

A shift in this myopic debate is 
overdue. The reference jpoim for 

b^th^l^o'dSmsepwture but cur- 
rent military needs mid objectives. 

America is faced with zero to 3 
percent annual military growth, after 
inflation, for the foreseeable future. 
So meaningful benchmarks are essen- 
tial, if difficult. The Reagan adminis- 
tration and Congress must focus on 
the real challenges that should guide 
national security decisions. 

• Following the UJS. expenditure 
of about $700 billion on NATO-re- 
lated forces since 1980, can the North 
Atlantic Treaty Organization meet 
the requirements of defending its ter- 
ritory? The recent description by the 
supreme allied commander. General 
Bernard Rogers, of NATO military 
posture as one that requires the re- 
lease of nuclear weapons “in terms of 
days, not weeks or months" is a good 
starting point for examining Ameri- 
ca’s NATO defense posture. 

• Can the United States meet the 
rigorous requirement of defending 
interests in the Gulf that have been 
defined as vital by both Presidents 
Reagan and Cartel? Does America 
have the strategic mobility, on-the- 
scene allies and dear military strate- 
gy required to defend an area 7,000 
miles ( 1 1 J75 kilometers) from home 
against Soviet aggression? 

• Are UiL mobilization goals ap- 
propriate and achievable? Should 
Americans continue to base their mo- 
bilization objectives on developing 
the capability to fight for months in 
Europe when U.S. allies would start 
to run out of ammunition in less than 
two weeks and NATO’s war plan 
calls for 30-day sustainability? 

• Will any level or defense spend- 
ing provide the United Slates the 
capability to meet the requirements 
of the administration's three- and-a- 
half-war strategy? (Defense Secretary 
Caspar Weinberger has testified that 
the administration's “long-term goal 
is io be able to meet the demands of 
worldwide war including concurrent 
reinforcement of Europe, deploy- 
ment to Southwest Asia and the Pa- 
cific, and support for other areas.'') 
Has the “strategy-capability gap” 
narrowed over the last four years 
with the expenditure of SI trillion on 
the military? Will this gap dose with 
the planned expenditure or $1.3 tril- 
lion over the next four years? 

Defense experts will differ in their 
answers to these questions, but cer- 
tain conclusions are inescapable: 

• Current U.S. military strategy as 
set forth by Mr. Weinberger has utile 
relationship to present capability or 
foreseeable resources, 

• U.S. military planning is out of 
sync with that of .America's allies, 
and its mobilization seals are out of 
sync with NATO abilities and p lans 
Even using the “Are we better off 
now than we were four years ago?" 
benchmark, the answer is “yes." but 
not in proportion lo the dollars spent. 
The U.S. force structure (army and 
marine divisions and air force wings) 
is essentially the same, though the 
navy has added some ships. The 
readiness of the nation's forces has 
improved primarily because of the 
increased quality of their manpower. 
The ability to sustain a war has im- 
proved, but is far short of announced 
goals. Modernization of weapons sys- 
tems is under way, but is in jeopardy 
in a no-growth environment 
To justify increased military 
spending, Mr. Weinberger frequently 
displays charts that show bow War- 
saw Fact nations are outproducing 
NATO members in various catego- 
ries of weaponry. He has a poinL In 





gsgo 



M 


*i Gentlemen —to our lean, mean fighting machine ! 9 


1984, NATO produced 1,760 tanks. 
755 artillery tubes, 80 rocket launch- 
ers and 525 fighter aircraft. The War- 
saw Pact produced 3,650 tanks, 3,200 
artillery tubes, 700 rocket launchers 
and 1,070 fighter aircraft. 

Yet NATO has consistently out- 
spent the Warsaw Pact for the past 
decade and a half, especially over the 
last four years. This raises some 
tough questions. If the alliance na- 
tions are already outspending the 
Warsaw Pact but are getting so badly 
outproduced, how can this problem 
be cured? Moreover, is it the adminis- 
tration's goal to match the Warsaw 
Pact tank for tank, plane for plane? If 
so, how, and at what cost? 

Unless the administration and 
Congress refine their military objec- 
tives and concentrate on the overall 


U-S. and allied military output, de- 
fense in the 1980s and 1990s will 
increasingly fall into the same disre- 
pute that many domestic programs 
are now in. The recent budgtt debate 
and congressional votes on defense 
indicate that trend is well under way. 

Americans must recognize that de- 
fense spending has leveled off after 
five years of growth. It is likely to stay 
that way until the public and Con- 
gress are convinced that the deficit is 
being reined in and that increased 
military spending can really narrow 
the gap between UJS. capabilities and 
strategy. In approaching national se- 
curity with a new realism, several 
essential steps must be taken: 

• U.S. defense planners must re- 
vise their strategy to base it on West- 
ern strengths and Soviet weaknesses. 


• They must coordinate weapons 
programs with those of UJS. allies to 
eliminate wasteful duplications, and 
they must ensure that the allies are 
marching to the same war plans. 

• The Pentagon procurement sys- 
tem must be exposed to a strong dose 
of free-enterprise competition and 
accountability. The production of 
low-priority weapons must be 
stopped and the number of new 
weapons produced must be limited. 

• Americans must insist that the 
Reagan administration define the 
Strategic Defease Initiative realisti- 
cally to avoid public disiUusionmenL 

■ And reforms must be carried out 
in the structure of the military ser- 
vices, the Joint Chiefs of Staff and the 
Defense Department itself. 

The Washington Past. 


For East Asia, a 10,000-Year Reign? 


S EOUL — Not far from this 
wooded hilltop on the campus 


u wooded hilltop on the campus 
of Yaosei University, South Kore- 
an students are rehearsing a peas- 
ant dance that combines eaxsplit- 
tingly amplified gong-and-dium 
bashing with intricate teaping and 
much shouting. 

Only when the students take a 
breather can one hear — at almost 
equal volume — a tape of Stevie 
Wonder singing a recent hit, “I Just 
Called to Say 1 Love You." 

The metaphor is irresistible: East 
Asia's boom is drowning out the 
sounds of the West. Japan's power- 
house is being joined — scene might 
say challenged — by most of the 
nations of the region. 

Led by what Prime Minister Lee 
Kuan Yew of Singapore likes to caQ 
the “chopsticks civilizations" 
(South Korea, Taiwan, Singapore 
and Hong Kong), noncommunist 
East Asia is taking off. Malaysia, 
Indonesia and Thailand are also 
chalking up records of steady 
growth, rising per capita income 
and minimal inflation. 

Japan's economic success has 
been well documented. But the 
surge of the rest of East Asia has 
been less well publicized. To this 
reporter, back m Asia after nearly 
20 years in Western Europe and the 
United States, the area's progress 
comes as a shock. 

Out here, change is constant. Eu- 
rope seems static in comparison. 
The old leaders of Asia (Sukarno, 
Park Chung Hee, Ho Chi Minh, 
Mao) are gone, and so are the old 
skylines. Tnere are flashy skyscrap- 
ers and ultramodern office build- 
ings now where squat concrete 
buildings stood two decades ago. 

There are traffic jams (BMWs 
and Mercedes -Benzes locking 
boms with Datsuns and Toyotasj 
where trishaws once trundled. Cali- 
fornia's tyle ranch houses have re- 
placed reed huts, and Paris-styled 


By Robert K. McCabe 


ready-to-wear clothing han gs in 
place of sarong kebayas and cheong- 
sams in a million Asian wardrobes. 

An Asian middle class has 
emerged, happily gorging itself on 
fast food (McDonald’s and 
Wendy’s seem evoywhere), staring 
at ubiquitous but dubious color 
television (In Manila, I watched 
National Football League films 
with growing unease until I finall y 
found they were of the 1979 play- 
offs) and driving shiny new sedans 
with the brio of Grand Prix racers. 

Asians more and more are enjoy- 
ing today — but they are not forget- 
ting tomorrow. Their children are 
getting much better educations 
than their parents did. Taiwan is 
spending 19.5 percent of its total 
public outlay on education; South 
Korea, 16.3 percent, Indonesia, 
16.1 percent And Thailand? An 
incredible 26 percent 

Behind all this, of course, is 
steady economic growth. Recent 
figures indicate Taiwan's economy 
is climbing at 11 percent a year, and 
South Korea is matching this. Sin- 
gapore is at 8 percent 

There is a black spot: the Philip- 
pines. Last year, faced by political 
uncertainty, the country’s gross na- 
tional product contracted by about 
5 percent; its economy is in serious 
trouble across the board. But the 
rest of the area is averaging better 
than 5 percent growth a year. 

Income figures are rising too. 
Brunei's $20,800 per capita income . 
is difficult to deal with when one 
remembers that a few decades ago, 
before its major oil finds, it was a 
struggling little British colony. Ja- 
pan's $7,109 figure is still East 
Asia's best, but Hone Kong's 
$5316 and Singapore’s $5,219 are 
not far behind. One projection says 
Singapore’s per capita growth rate 


*-u*» | Pnw . pnvCTMni 


win surpass that of the United 
States by 2001. 

And white growth extends, infla- 
tion is in check. South Korea's in- 
flation rate is about 2J5 percent a 
year, and Taiwan’s is 1.4 percent. 
Others: Thailand, 3.8 percent, Ma- 
laysia, 5 percent, and Singapore, 63 
percent- Hong Kong, at 10 percent, 
and Indonesia, at 12 percent, are 
not doing as welL The Philippine 
rate is close to 50 percent. 

Provocatively, the healthy econo- 
mies are somethin g less than free. 
At least some government regula- 
tion is the norm, whether it is called 
“state capitalism,” a “mixed econo- 
my” or simply “planning." And 
with tins goes a degree of political 
restraint, most conspicuously in 
South Korea, though the govern- 
ments in Taiwan ana Singapore can 
be quick to show their teeth. 

But for Asia’s miHinnc, the Pacif- 
ic revolution has brought more 
benefits than burdens. U£. trade 
with Pacific nations surpassed 
U ^.-European trade in 1980 and 
now runs at nearly a third more. 

Odds are that Pacific links win 
continue to expand. Four of the 
world's greatest powers (the United 
StMes, the Soviet Union, Japan and 
China) are Pacific nations. By 2010 
more than 60 percent of the world’s 
population will be living around the 
so-called Pacific Rim. 

It was Douglas MacArthur, of all 
pecmle. who on Leyte back in 1944 
said that “Europe is a dying system. 

- - . The lands bordering the P acific 
with their billions of inhabita nt 
will determine the course of history 
for the next ten thousand years* 
Ten thousand? A bit strong, per- 
haps. But the Pacific Revolution 
may become one of the most signif- 
icant phenomena of our times. 

77ie writer a dqndy editor of the 
International Herald Tribune on 
leave, is a specialist in Asian affairs. 



TaxReform:^ 

With Justice 
For Some 

By Hobart Bowen 

W ASHINGTON - Iu *» tanf . ^ 
sell for tax reform, the Reagan tefej 
administration has doneittbjjt fo (}_ Ml 
make it appear that excrybodk, or ggl 
practically everybody. 

V Treasury Secretary James A. Raker f 

3d claims the tax program iwll boost 

percent bv 1995. But he deaded, and Ur ■ 
wisdv not to crank that computer- • J 
generated figure into the »* 
rations, “so we couldn t be accused of 
cooking the books.” Jf| 

What the Treasury Department Jg| 

did not advertise was that there 7 - 

would be a Fairlv painful iranstUOfl. I | 
was provided by officials with some Wt Y " 
details of the compiler projection. - 

One negative: Housing 5tsm wedd , / * ' 

drop sharply, bv 8.5 percent in 1986, * £- 

7.1 percent in 1987. 7.0 percent m J * 

1988, and 3.9 percent tfl 1989 From 

E rejections based on current tax law. 
lousing starts would not recover w 
the point they otherwise would have , s I 

reached until 1993 or 1994. |1 ,i! jj | 

For all ibe presdem’sslowing lan- . Jl 1 ' 
guage about economic growth and 
incentives, the unemployment rate 
would show no improvement, com-- 
pared with present expectations, un- 
til 1995. and even then the guns 
would be minimal. 

There would be significant changes 
in the composition of gross national jg - 
product: Real fixed investment by r 
businesses would grow by an extra 
45 percent by 1995, and both infla- 
tion and interest rates would be dow* 
by a little more than a percentage 
point, compared with exist in g law. 

Computer runs are not the end of 
all wisdom, to be sure. In the coming 
weeks (here will be a raft of private 
analyses, and results may differ. But 
the computer analysis produced for 
the Treasury Department is enough 
to show that a lot of the administra- 
tion's rhetoric is wishTul thinking. 

Moreover, there is reason ro be 
suspicious or the claim that the cur- 
■ rent proposal is “tax neutral." Dan 
RostenkowsJri. the Illinois Democrat . 
i who chairs the House Ways end #• ' 

; Means Committee, estimates that by 
[ 1995 there would be a net loss of $12 

< billion annually, whereas the Trea- 
\ sury Department's first reform plan 
would have picked up $13 billion. 

So the current plan may be a new 
tax-reduction proposal mat would - 
add to, not minimize, the budget- 
deficit problem. A major share of the 
benefits goes to the working poor; 
t helping mem recover from the 1981 
i tax law, which was biased against 
k than. But the biggest cut goes to the 

very wealthy. Not only do the rich — - 

k who got the lion's share of the 198! bv*^ v » i * 
tax cut —benefit enormously from a v^ ; - . i if - 
i reduction in the top rate tram SO 
. percent to 35 percent, they get a huaeJi F,; 1 . 

- bonus through a cut in the capital-" / # 

gains tax from a maximum of 20 
percent to 17.5 percent 
A study fay the Center on Budget 
and Policy Priorities based on Trea- 
sury data shows that the average an- 
nual tax cut for those making marc 
than $200,000 a year would be 
' $9,254, while the cuts for those in the 
\ $10,000 to $50,000 income brackets 
l would be from $128 to $211 a year. 

But the key question is^ whether die 
new plan will, as the Reagan adnrinis- 
(ration contends, stimulate growth — 

: especially through new capital for- 
:■ mation — and generate additional 
revenues. The same supply-side aigtir 
meat was made in favor of the 1981 
tax-reduction plan, which in fact 
eroded the tax base so dramatically 
; that huge budget deficits are assured 
1 for the rest of this decade. 

The administration's casual prom- 
ise of greater economic growth, trans- 
lated into Mr. Reagan's glowing ini- 

based on the eaa^mrtricMo^Ste^ 
showing a 1.6-percent extra increase - 
in real GNP growth by 1995, and also 
on thfe president’s untested assump- 
tion that all Americans will work 
longer and harder if they can keep a 
greater share of their earnin gs 
“I can’t prove it," says one of the 
Reagan tax-reform architects, “but 
common sense tells you that this bQl 
win increase growth much more [than • 

1.6 percent). It will enhance labor 
productivity. Because in a world 
where the workers befieve the system 
is more fair, it will reduce worker- 
alienation 

From a Keynesian standpoint, 
there ought to be a favorable effect 
on consumption and growth. From 
the supply-side view, there ought \£ 
be benefits from investment So over In- 
tone, the system ought to be more ! I ||U> 
etfiaent, more neutraL” ‘ * If f \ 

From the standpoint of the indus- “ * 

tries now enjoying tax benefits, from ’ ‘ = 

real estate to the 5 rust belt," neutral- -'n< . ' ' = 
ity means pain. Property values have m \' 
been grosdy inflated by the tax sys- V, . : > 
rem, which gave some old-line com- v 
ponies a “negative" tax rate. 

But an abrupt shif t into a new ’ " * 

system could shake the economy. ,J ■„ 

And the proposal would establish a • 

new ret of inequities. We are a long 
vray from the principle of true tax 
reform that treats all income equally. 

The Washington Post. 

LETTERS .p 

fe 'Backward’ Europe 

“Preferably in Wisam- . .. 

am (Letters, May 30): 

Poor Frank Richardson, con- ... 

demned to live in “backward" £u- -. 

rope. And pity all those misguided, 

envious folks in Wisconsin, who fool- 
ishly imagine that Europe has any- 

thra . tel ^“ 

CHRISTINE PEMBERTON. 

_ Paris. 

Qjss, Mr- Richardson, applies tm ‘ 
sooal relationships, not telephone- 

SS32i; ^ 35 for your^SSg . 

K? 1 ™ 8 ' did you ever try to ex- 
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JOHN p, CANNIZZO. k 
Zurich. 


n 





INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


Page 5 - 



Doctors in South Africa Say Police Abuse Patients 


By Allister Sparks 

Washington Post Service 

JOHANNESBURG — Police officers were wa tching the 

* .. - l I J 1 A LI l__ ■ vs 


patients raster at a large hospital for blacks in Port Eliza- treat panenis m 
betfa when a young man came m with shotgun wounds in his the hospitals so 
chest and left arm. Accusing the; 


them under arrest in their beds and sometimes confiscating 
their medication when they were transferred to police cells. 
It said the police had instructed some private doctors not to 
treat patients in their consul ting rooms but to send them to 


that they could be arrested there. 


Judge Kanncmeyer said when the hearings started that 
they would focus only on the massacre itself and not probe 
general conditions relating to unrest in the region. 

Dr. Juta said he was one of H maybe three or four" doctors 
out of a staff of 120 at Port Elizabeth’s Livingstone Hospital 


An Indian doctor with sharp eyes, Mandikat Juta, later 
described how he leaned across to the admissions derk and 
declared: ‘This is Dr. Brown’s gardener. Injured himself 
with a screwdriver. Admit him to my ward.” 

Dr. Juta, of (he Port Elizabeth hospital staff , said he has 


Palestinian in Sabra camp salvages what she can from her shop in a damaged bvriMSiig. 


Beirut Camp in Ruins, Visitors Say 

Palestnuam’War-DanuigedSabmMayBeUninkabitable 


By Gisan A. Hijazi 

New York Times Service 

BEIRUT — The destruction Eh 

- ’Sabra. one of three Palestinian set- 
dements besieged hy Shiite al- 
lackers for nearly three weeks, is so 
extensive that the refugee district 
may no longer be habitable, ac- 
cording to visitors to the camp in 
the Iasi two days. 

They said many Sabra residents 
were sleeping on sidewalks outside 

- the settlement, in a southern sub- 

r urb of Beirut. 

Sources dose to the United Na- 
_■ tionsRdief and Works Agency for 
Palestine Refugees said that more 
; than half the houses in the settle- 
ment were not safe to live in, and 
that most of the rest bad been dam- 
. .aged. 

■ Officials from the relief agency, 
which lodes after hundreds of 
thousands of Ralestiman- 

- in Lebanon and other Middle 
era countries, have not been able to 

■■ inspect the two other settlements, 
Cbatda and Benge BarajnL 

Red Cross wozkeis have evacuat- 
ed 93 wounded Palestinians from 
. .■ Borge Barajni, but they have been 
unable to re-enter the camp be- 
. ; cause of the fighting. 


■ Militiamen of the Shiite Amal 
movement and soldiers of the Leb- 
anese Anny*s6th Brigade took con- 
trol of Sabra last week and have 
occupied much of Chatila. They 
have Borge Barajni under a'ege. 

The three settlements contain 

30.000 people. Perhaps as many as 

20.000 other Palestinians live in 
Moslem quarters near the make- 
shift settlements. 

Visitors to the area said women, 
children and old men were steejnng 
on sidewalks around the Beirut 
Arab University, , outride Sabra. 
Others said said 160 Palestinian 
families had moved into the shell of 
tbebmldmg that once housed the 
U.S. Embassy on the seafront. 

Hie seven-story embassy build- 
ing was severely damaged by a sui- 
cide car-bomber in April 1983. It is 
dose to die headquarters of the 
Druze mili tia of the Progressive So- 
cialist Party, which, although an 
ally of Amal, did not join the offen- 
sive against the settlements. 

Pale stinian gue rrillas in the hills 

above Beirut have been firing bar- 
rages of artillery shells and rockets 
against Shiite positions. 

Shiite mfljtiamcn and soldiers 
are on alert inside Sabra because of 


attacks by guerrillas biding in tun- 
nels. An Amal fighter said the tun- 
nels were "infested" with gunmen. 

The bodies of 13 Palestinians 
were recovered Tuesday from the 
demolished Gaza Hospital in Sa- 
bra. The police said 500 people had 
been killed, with more than 1,500 
wounded. A J 1 • ■ 

Press reports have said that Syria / %Hf | \jftDlD6l 
was pressing for an end to the vio- 
lence, with Vice President Abdel m -| 

lake Office 


They walk about the 

been smuggling patients into his ward and treating them fiAcnifcil fn Ptamnnfliiffp 
secretly for two months because the police in eastern Cape n08 P 1UU m CamOUIiagC 
province, where most of South Africa's prolonged racial ______ 

unrest has been, keep watch at all the region’s hospitals to L Rt l ffilCS CHTTyiUg otCH ffl IHS 
arrest any blade person admitted with gunshot wounds. 

The mere fact of such a wound, especially from a shotgun, 
is regarded ss evidence that the person was involved m a 
riotous crowd that dashed with poHce, Dr. Juta mid 

The wounded person is immediately placed under arrest, 
and an armed guard is posted at his bedside. According to 
Dr. Juta, some patients are handcuffed to their beds. 

When the patient is discharged from the hospital, be is 
taken to a police cell, then to a court to be charged with 
riotous behavior. 

Eh - . Juta and a white doctor in private practice in Port 
Elizabeth, Gavin Blackburn, gave this account of police 
action regarding blacks injured in unrest in Lhe region, where 
at least 129 persons have died since March 21, at a meeting 
of concerned doctors and paramedics held last week in the 
Medical School of Johannesburg's Witwatersrand Universi- 
ty- 

The meeting was called by the National Medical and 
Dental Association erf South Africa, which broke away from 
the officially recognized Medical Association of South Afri- 
ca because of the latter's failure to act against the doctors 
who treated Steve Biko, the black consciousness leader, 
before he died in police custody in 1977. 

The medical ana dental association’s eastern Cape branch 
has protested at what it regards as police interference with 
doctor-patient relationships. 

It issued a statement recently accusing the police of 
intimidating and arresting patients in hospitals, of placing 


Accusing the authorities at the state-run hospiials of being who had tried to circumvent the police net to treat patients 
in collusion with the police, the medical body —which has clandestinely. He said they risked their jobs as provincial 
. __ government employees, and added: T might even be dis- 
missed for addressing this meeting." 

Dr. Blackburn said he was one of several private doctors ‘ 
who had set up a rudimentary clinic in a church hall in 
Uiic ah a fi ft. where they attended to wounded blacks who 
were afraid to go to the hospitals. 

“We have no sterile facilities." Dr. Blackburn said. “There 
is no hot water, no X-ray equipment, so we don't know where 
a than. Tb 


and automatic rifles. 9 


about 6S0 members throughout the country compared with 
6,000 in the officially recognized group — said sections of 
the hospitals where the wounded blacks were treated were 
dosed to the public. Catholic priests bad been told they 
could not go into these sections to administer last rites to 
dying patients, the statement said. 

The association said that many wounded blacks had gone 
without treatment because they were afraid to go to the 
hospitals and were turned away by nervous private doctors. 
A few bad tried to opoate on themselves to extract shotgun 
pellets, resulting in infections. Same patients had died 
through lade of medical attention. 

Asked to comment on lhe allegations, a spokesman at 
police headquarters in Pretoria said: “Since we do not know 
the parameters of the Kaimemeyer Commission’s terms of 
reference, we are unable to comment." 

The Kanncmeyer Commission has been investigating the 
police shooting of 20 members of a black crowd near the 
town of Uitenhage on March 21 . The South African authori- 
ties have said that they should not comment on this incident 
until the commission has reported. 

Judge Donald Kaimemeyer, who headed the Eve-week 
investigation, handed his report to Presdent Pieter W. Botha 
on Wednesday. Details of his findings were not revealed. 


the bullets are to extract them. There really isn’t much we 
can do except give the patients penicillin injections." 

Dr. Juta said he had done a voluntary stint at the church 
hall and realized that it was imperative to get some of the 
patients to a hospital. 

“The only way," be said, “was to do something irregular 
and improper. I admi tted them to my ward under a false 
diagnosis.** 

As an example, he said be bad admitted one patient whose 
jaw had been shattered by a bullet as a case of “right facial 
palsy." 

“The police had taken over the first and second floors of 
the hospital, and I was on the third floor, so they didn't really 
know what was going on up there,” Dr. Juta said. “The main ' 

problem was to stop the nurses from talking." 

Dr. Juta said he found the behavior of the police in the 
wards “unnerving." 

“They walk about the hospital in camouflage fatigues - 
carrying Sten guns and automatic rifles.* 1 he said. “They ■ 
smoke where there are no-smoking signs. They play cards in 1 
the wards, and they fingerprint patients pre- and post- . 
operatively." 

Still, he said, the situation in his hospital was not as bad as - 
at Lhe Uitenhage hospital, which he said was “like a military 
camp." 

“Police trucks move into the Uitenhage hospital com- 
pound as often as ambulances,” Dr. Juta said. 


Papandreou 


The Shiite group has insisted h 
will halt its attack only if the Pales- 
tinians surrender their arms and 
allow the Lebanese Army 6th Bri- 
gade to take over security duties in 
the refugee districts. The terms 
were rejected by the leaden of the 
Damascus-based Palestine Nation- 
al Salvation Front, which says it 
speaks for the refugees. 

Yasser Arafat, whom the front 
opposes, blames Syria for the Shiite 
attack on the Palestinians. In re- 
sponse to a call by Mr. Arafat. who 
is chairman of the Palestine Libera- 
tion Organization, 13 of the Arab 
League’s 21 member-states have 
agreed to meet Friday at league 
headquarters in T unis . 


Solzhenitsyn, Wife Apply 
To Become U.S. Citizens 


The Associated Pros 

SAINT ALBANS, Vermont — 
The exiled Russian author, Alexan- 
der 1. Solzhenitsyn, and his wife, 
Natalia, have filed applications for 
U.S. citizenship, according to court 
papere. 

The papas were filed with an 
immigration office here last week 
by the Solzhenitsyns, who moved 
to Cavendish, Vermont, in 1976 
soon after their arrival in the Unit- 
ed States. 

Mr. Solzhenitsyn, 66, the author 
of 20 books and many short stories 
and poems, won international ac- 
claim in 1962 with the publication 
of “One Day in the Life of Ivan 
Denisovich,*^ which described life 
in a Soviet forced-labor camp dur- 
ing the Stalin era. 

He spent eleven years in labor 
prison camps after writing a 
letter critical of Stalin. He was re- 
leased in 1956. 

The author wot the Nobel Prize 
in literature in 1970. Four years 
later, he was arrested by Soviet offi- 
cials for criticiziiig the government. 
He was pm on a plane to West 
Germany. 

Since his arrival in the West, Mr. 
Solzhenitsyn has spoken only rare- 
ly in pubhe. But m his published 
work he has bem critical of the 
American form of government. In a 
long letter to the Soviet leadership 
in 1974, he enjoined them to drop 
Marxism, and he also criticized the 
West and the United States. In 


America, he said “once every four 
years, the politicians, and indeed 
the entire coon try, nearly kill them- 
selves over an dectoral campaign, 
trying to gratify the masses.” 

His 45-year-dd wife also has 
published sevwal articles and made 
statements critical of the Soviet 
government, The Soviet govern- 
ment ' revoked her citizenship in 
1977. 

In an interview published in Ver- 
mont Life magazine in 1983, she 
said she and her husband had not 
given op hope of returning to their 
homeland. 

“Our largest problem is the fact 
that we have lost Russia,” riie said. 
“This feeling toes not go away. On 
the contrary, every year it becomes 
more intense. We have grown to 
like Vermont very much, and we 
wouldn’t leave fins for any other 
, if it ever becomes 



Norman Henry, bead of the Im- 
migration and Naturalization Ser- 
vice office in Saint Albans, said it 
generally took up to three months 
to process a citizenship application. 


Alexander L Solzhenitsyn 

The couple’s three sons would 
automatically become citizens once 
their parents are sworn, according 
to Leonard Lafayette, derk of the 
UJS. District Court in Burlington, 
Vermont, where the petitions are 
on file: 

The Solzhenitsyns reportedly 
have expressed a desire for a pri- 
vate naturalization ceremony. 
Most applicants become citizens m 
large groups, but officials said a 
private ceremony could be ar- 


Reutcn 

ATHENS — Andreas Papan- 
dreou was sworn in Wednesday as 
prime minis ter for a second four- 
year term following the election 
victory on Sunday of his PanheUen- 
ic Socialist Movement 

Hundreds of people gathered 
outside the presidential palace to 
cheer the new cabinet Mr. Papan- 
dreou, 66, kept the defense portfo- 
lio, and Foreign Minister loanms 
Haralambopoolos, Economy Min- 
ister Geraamos Arsenis and Arts 
Minister Melina Mercouri kept 
their posts. 

They and other ministers sworn 
in Wednesday will serve only until 
July, when parliament is expected 
to pass legislation to make the cabi- 
net smaller. The cabinet had 52 
posts. Mr. Papandreou said Tues- 
day the temporary cabinet would 
have 10 or 12 members. 

The . Socialists wot 161 seals in 
Greece’s 300-member, single cham- 
ber parfiameni. 

MUtiades Papaioannou the sec- 
ond-ranking official at the Interior 
Ministry, was appointed justice 
minister. Athanasips Tsonras, the 
third-ranking official in lhe minis- 
try, became public order minister. 
The ministry had organized the 
elections. 

Yannis Kapsis, who as foreign 
undersecretary handled ties with 
Turkey and the United Stales, was 
not included in the cabinet. 

Theodore Pangalos kept the post 
of foreign undersecretary for Euro- 
pean Community affairs. He has 
had successes in securing more 
community aid for Greece. Kostas 
SSmitis remained agriculture minis- 
ter. 

Evangelos Kouloumbis re- 
mained environment minister and 
was also given responsibility for 
public works and transport. He has 
eased unpopular restrictions on 
new construction. 


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Page 6 


Hypra NATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 

SCIENCE 


T urkish Excavations Indicate Pace of Early Culture 

_ . j- * .r tv- RnMwMi cjiifi was the 


By John Noble Wilford C J 

New York Times Semce ra , * 

A rchaeologists have dis- P“£“ 
covered toe remains of 10,00ft- , 

year-old 5 lone buildings in south- 1 

astern Turkey that are believed to 
be among the earliest examples of 
formal architecture, and important 
evidence of rapid cultural changes “™v*} 
when human societies moved from ^ 
hunting and gathering to farming ____ _ 
and livmg in villages. h q 

Excavations of the three build- 
ings revealed lerrazzo floors, well- - u_ 
polished stone, a carving of a hu- . . ^ 
man face and pilasters for 
decorative rather than structural • J* 
purposes. The craftsmanship so pmain 
surprised the archaeologists that at |sne&, L 
first they thought they might have ™ ““ 
come upon some Greco-Roman ru- ™iage 
ins. 50031 

These discoveries were an- f 10011 ? 
no i! need last week by the Universi- *Y 
ty of Chicago. Istanbul University inal a 
in Turkev and Karlsruhe Universi- sources 
ty in West Germany. Aichacolo- lu .™» K 
gists from the institutions partici- jnpute 
paled in the excavations, which basic 
were directed by Robert J. Braid- a ~“ ev( 
wood of Chicago and Halet Cara- nee rf 
ivl of Istanbul. - 

Dr. Braidwood, a professor zat !°J L 
emeritus at the Oriental Institute of O"® 
the University of Chicago, said in a > rom ! 
telephone interview. “What I think 1? agn 
v.-e have here is the first evidence bon of 


that changes began to happen 
much faster than we realized once 
people began controlling their own 
food supply through agriculture." 

The age of the village was estab- 
lished through the standard car- 
bon-dating process. Inside one 
building, apparently the oldest 
structure ever discovered that was 
erected for non-domestic purposes, 
the archaeologists uncovered a 


3to*9W 


TURKEY 


• A rudimentary use of measure- Dr. Braidwood said was the first 
mem: The buadmgs were of the substantial evidence «««»»£ 
same size and faced in the same mg worked raw pins, hooks, dnUs 
direction, south. and simple tods. The copper pieces 






DqrOfbaMr L 2 


direction, south. and mto ™s - 1 

• An appreciation of decorative bad been cold-hammered, though 
features- The buildings have pflas- there were “ 

ters plared on their walls for no toe material was heated before it 

apparent structural putpore. On "■•taped at the site 


scene as mystifying as it was maca- . «... . s 

b re. On the floors of two small I- v 

rooms they found the burned tops 

of about 50 human skulls, presum* K^\ ( \ . 

ably the remains of a death rue. L . — u £ 

The presence of communal n» N”, Y"* r™, 

buildings with decorative flour- 

ishes. Dr. Braidwood said, suggest- occurred 10,000 to 12,000 years 


rao ■?' 


S’K £ AU & slntUsfoutld at *e are 

wrrazzo is a slab of limestone with had bom deliberately oil offjiMi 
an almost life-size human face above the ears and blackened in 
Srv«f?fiL fire. A pit in the floor of the same 

• An understanding of pyrotach- braiding contained leg bon« “J 
oology: The butldefs had leatued “ f 


Boot Hair 


I 4 


Arbuscuiea 


0 


Crucial Symbiosis 
Multiplies Root Power 


^MUtRtf N’S **® 

WATER ^ 






The New York To, 


S?B EJ£Si*S3£ a lower jaw. The *1 to« and 
tosSn^dSused theS other bones are being analyzed at 


rial in creating the lerrazzo floor 
out of salmon-colored limestone 
and white marble chips. 


Ankara University. 

Dr. Braidwood and his wife, Lin- 
da, a research associate at the Ori- 


ishes. Dr. Braidwood said, suggest- occurred 10,000 to 12.000 years DoUshinctech- emal InsUtute, plan to resume ex* 

ed that the people living in the ago, scholars of prehistory thought . * to cavations at Cayonu this fall, 

village had advanced to a level of cultural change had still proceeded m ? lies '.^L oth y.. snrfar- 0 r the digging even deeper for further 

S complexity" not previously aian exceedingly slow pace. . . rub and smooth the surface ot the gJTO ^ transition 

encounieredin «RloraUons rfear- “’SSition. the site yielded what from hunting to fanning. 



/v»le» 


ly agricultural societies. A culture near the headwaters of the ligns 
That can afford the time and re- River, on the Anatolian plateau 
sources for ceremonial architec- about 30 miles (50 kilometers) 
lure, something that does not con- north of the dty of DiyarbaJor. The 
tribute directly to immediate and site is called Cayonu, short for a 
basic needs, shows that it has Turkish phrase for "little mound 
achieved success in supplying the on the other side of the stream. 




Typical endoray- i 
corrhizae (in whit e) , 
transfer nutrients to artwwcfes : 
which penetrate ceUs of the , 

9m ttan/Tht N"» T «**t /*'■ 



^ of TrZpS&ra to l7 1963 archaeologists at By Erik Eckholm 

established some political organi- Cayonu began uncovering the New York Tunes Serme 

zation. traces of domestic dwellings repre- a LITTLE- KNOWN family of 

Onm> ti»> threchnlH was crossed seating a 10 , 000 -year-old settle- fungi that inhabits the roots of 

ttTfl early^cultural people. ocariylS the world's ptat, is in- 
to agriculnSt through domestica- Their ethnic origins are still unde- spmng superhtivjs from an m- 
lionof plants JradSraals, which leimined cri^mg number of scientific ad- 

l_ As early as 1970, scholars began nurers. 

to suspect that the people in ihat yjje fungi can be found, says one 
area had developed construction bioiog^ with only a little hypCTbo- 
skills much niore advanced than ^ every grain of sand, in every 
their nomadic forebears. . .. oram of soil from the arctic to the 


iy Fungus Family Emerging as a 

, C^L. practical appUcatira s. These, in- Third, wtapontepto l^t^regu- tree plants. ^ „ 


application 


By Erik Eckholm 

New York Tunes Service 

A LITTLE- KNOWN family of 
fungi that inhabits the roots of 
nearly a5 the world’s plants is in- 


leir nomadic forebeais. gram of sou from the arctic 

•nKbuiUingm Which Che istuUs gopict- Accounting for 15 perom ™'SrSd«fof strain, that pro- Ungn raid. “Thera may Dssomt 

ZS&J.VSSSZ S^KSS fanrestic vanojes out there in na- 

^ 0 °'S t r ,POfmiCrOOT8an - SJSHSgA ^ ad^orotostressMco^d^ 

mom waTa one-ton slab of well- 151115 , , , . , , , Eciomycorrhizae are hairy man- Winter wheat, for example, t he 

polished stone not commonly ‘*’ n,e y re ties that form outside toe surface which is planted in toe fall for bar- jof? a pure cul- 

found in toe ana. Two other build- tween the plant wnUapd toe sod between toe cells of toe roots vest toe next summer, derives little [^ l -5}S^boraior V P 
inas were of a similar size and world, said Hugh BoUuwpr, vice 0 f many conifers and some hard- benefit from the fungi because it ^ something 

SILiShip. president of WLa bioteoinok^y woods; some send mushrooms or does not become infected with 

niimnwc of these com P an y 10 Salt Lake Gly, Utah, puffballs above ground during them until late spring. The fungus from the plan w 
Whetow toe purposes otrnese The fungi enter roots in symbwt- iheir life evde. naturallv assodated with cate ra a petn dish, lamented L»r. 

communal buildings wassacred or j c partnerships, called mycorrhizae. _ , Plains wheat cannot func- Hetrick. Instead, symbiotic assoa- 

secular is not yet dear, Dr. Braid- .. h J nut i nm Far more common and present Great P ations must be nurtured on the 


creasing number of scientific ad- 
mirers. 

The fungi can be found, says one 
biologist with only a little hyperbo- 
le, "on every grain of sand, in every 
gram of sou from the arctic to the 
tropics." Accounting for 15 percent 
of toe weight of toe world's plant 


-- 

1&35— -sa sttsjs. 

landand raising cheaper Christmas qirinements for fcmloer and water, with weeds ’ “ ‘^Sstrain certain type of tmfiball sprouting 

trees. Third WorldSitisis hope The ament costs of applying the feax ’that a nma^»g^ _ ^nd the healthier trees. These 
^eryii anniirfltinn of these fun- fonsd or their eouivalent in cham- could wreak ecology na « t* shoots of an ex- 


iana anu raumg (.uewa . 

trees. Third World scientists hope The current costs of applying the 
toe adroiL application of these fun- fan® or their equivalent in chmn- 
ei will permit toe cultivation of cal fertilizers are about equal, out 
huge infertile zones in the tropics prices should shift m favor of the 
and toe regreeoing of burned-over fungi. 

rain forests. Hoping to find wider agncultur- 

Mycorrhizae is the term for toe al uses, researchers are sotting 
growths that result from mutually through known speoes of the jun- 

r r. ■ , ■ - i iMirhino fnr strains tnat DIO- 


tun^Outt°besh^ofan«- j 
H^^nouridKscvrainluBA 

“Al this point it 5 not really kc- imeL 

. " U. Dnl. 


= . planted on mine wastes are three 
essaiyroplaywithgenes, Mr.Bd to survive, according 

linger said. ^TTiere maybe.J 0 ^ toOiarles E Carddl of the U. S. 
fantastic vaneues out there in na Servitx A private company 

tur f- , . r ^rrh now markets toe fungus, and more 

UranlJ00anK.lWtecUTO)0( 


6 GREAT NAMES IN THE ARTS OF THE TABLE 
HAVE CHOSEN 

MADRONET JU. rue Jc Paradib - 75010 PARIS ■ 

so that your table may be unique 

.* * *» $&&/ tsi „&ene/i/ezMJ 

A, • - A Tennis courts and coach * Indoor golf 

' Putting green * Indoor swimming pool 

“ v. Solarium * Sauna • Massage * Bridge 

wSSSsJ' • • - relax an let us spoil you 

Chair-lift io the Suvretta excursion area 
Surfing * Sailing * Mountain climbing 
Vl Riding * 18 holes Engadine golf course. 

Phone 082 21121 Telex 74491 R. F. Muller, Mgr. 


a — - jr. 

room was a one- ton slab oi weu- 
polished stone not commonly 
found in the area. Two other build- 
ings were of a similar size and 
craftsmanship. 

Whether toe purposes of these 
co mmunal buildings was sacred or 
secular is not yet dear, Dr. Braid- 
wood said. 

But the architectural techniques 
used in their construction indicated 
to archaeologists that these people 
had these cultural attributes: 


has been toe inabtogoscientBts Ohio and other 

to grow endomyconhnal fu^to* «np- regreened with its 


most common type, in a pure cul- 


vest tne next summer, umv» uw : --j— , ^ 

benefit Iron i fte tang } hgu« a something 

does not become, mfa , . lha , Hnnli- 


tbkt send threadlike hairs out inio . rar 

l Y r'k?" m P ‘Slrn h U 'tAS S 1 l *rtS*3^!SI?S?SfS2E 

plants ability to gather nutnents * „J» miemeaeie strands 


urn tne arcmiccLuiai plant s atnlity to gamer nutnems ~ ; ■ . j has discovered. 

tTarchaeoloSS toni^toese pSple y ’° . ti ” CS ^ . . . known as hyphae outside the root Dr. Hetrick is searching for fun- 

hid these crural attributes: J*? 11 Crticial role m sustainmg waij to suck in water and nutrients, gus varieties that can withstand 

ram forests on poor tropical soils is The filaments extend up to 3 lower temperatures and that could, 

only now being uncovered. A re- ^hes (7.5 centimeters) into the if injected along with toe seeds, give 

cent report of the National Acade- often increasing toe plant's ef- young wheat plants an extra boosL 
Bobbles Could Deter Sharks my of Scienoes^called the fungus- root surface by 10 times. About 100 different species of 

Agence Francc-Prasc rop 1 symbiosis "toe cornerstone of j^ey contribute especially to the endomvcorrhizal fungi have been 

JERUSALEM — Scientists at mineral conservation by natural 0 f phosphorus, one of the nam«L eight or nine more are dis- 

the Hebrew University have sug- tropical forests." major nutnents needed by plants, covered each year and hundreds 

gested that soap bubbles could be Bioiedmologists have begpn to and of such trace elements as cop- more are believed to live in the 
used as a deterrent against sharks, dream of finding — or creating' in per and zinc. The extra hairs extend tropics. The qualities of only about 
Initial studies of a Red Sea fiat fish the laboratory — superstrains of toe plant's reach and also break half a dozen have been seriously 
determined that a secretion which fungi that could transform forestry down insoluble minerals that investigated to date, according to 

■ - , j _ r j.j : . — i r „ j : u ij u. , i. c i nu> 


^IxSuS “ orw ? B ffi5iSSSE 

has discovered. some.^nsivc and timo«msurn- 

Dr. Hetrick is searching for fun- way to culture the fun- 
gus varieties that can withstand ■_ j ■ .u. .k. c«. 


gus vaneues that can withstand -j independently “is the Mount Ev- 
lower temperatures and that could, ofmyconhizal research." said 
if injected along with toe seeds, give Brilish Barbara Mosse. 

vmi no uihMi nlflnk An wtrfl hnnsr « r . l* i : n_. 


young wheal plants an extra boosL 
About 100 different species of 
endotnyconhizal fungi have been 


In contrast, the biologically sim- 
pler ectomycorrhizal fungi found 
on pines, other conifers and some 
hardwoods such as oaks, can be 
cultured. This is one reason why 

toey are already in limited commer- 


s tales have been rcgrcened with its 
help. Timber companies are exam- 
ining toe merits of inoculating all 
their seedlings with this fungus, 
Mr Cordell said. 

The association of plant roots 
with mycorrhizal fungi was first 
described at toe turn of the century ftf 
Gradually, botanists discovered 
just how ubiquitous toe phenome- 
non is. But its importance to plant 
welfare was not widely known until 
recently. 

“Even 10 years ago, many sol 
scientists wouldn't admit that my- 
corrhizae had any effect on plant 
nutrition." said Mr. Menjge. "Now 
they agree that plants pick up 90 
percent of their phosphorus by this 
route." 


which the fish defended itself and agriailture. 
against sharks contained paraxin, a With research 
detergent chemical. enlists already I 


110 IT LED IN SCO' 


With research in its infancy, sci- Experiments have shown that in 
enlists already foresee all sorts of addition to enhancing nutrition, 

toe fungal partnership increases 

plant resistance to drought, salini- 
ty. acidity and diseases. 

■ j In toe 1970s. as toe unheralded 

I services these “bionic fertilizers" 
1 provide were recognized, some sci- 
entists predicted an agricultural 
I revolution. Several corporations 
{ funded mycorrhizal research. But 
| improving on nature has proved 
j difficult. 

For now, according to John A. 
i Menge of toe University of Califor- 
nia at Riverside, commercial use of 
the f ungi is feasible in three special- 
ized areas. First, inoculation of 
seedlings with toe fungi can pro- 
mote revegetation of sites such as 
strip mines and roadsides, where 
natural fungus populations have 
been destroyed. 

Second, toe fungi can be added 
to soils in nurseries and orchards 
where fumigation, often required 

^ lo kill pests, has also suppressed toe 

fungi. Some citrus nurseries al- 
ready apply toe microorga n is m , 
but numerous other fruits and veg- 
etables grown in fumigated soils 
may also benefit from toe proce- 
dure. 


would otherwise be unavailable. Mr. Menge. Several hundred spe- 
Experiments have shown that in ties of ectomycorrhizal fungi have 
addition to enhancing nutrition, been identified. 


Eventually, superstrains of the 
fur® may be created try gene splic- 
ers. 

“With genetic engineering, I 
think we could do all sorts of mi- 
raculous thing s,” said Mr. Menge. 
“We could probably even create 
mycorrhizae that fix nitrogen. But 
until we can test them it's just talk.” 

Work on genetic manipulation 


Cancer Fighter 

Moving Toward Illinois Nuclear Accelerator Starts Up 

Human Trials ARGONNE, Illinois (AP) — The ATLAS, for Argonne Tandem- 

Linear Accelerator System, a $20-million nuclear accelerator, has begun 

New York Tunes Service Operating. ^ . 

N n» vnDtr a noh.r .1 The accelerator strips atoms of some or all of their electrons and 
cTK=ion^fh n t accderates them to more than 30,000 miles (48.280 kilometers) a second. 

kS-SIS. nf it « 111611 lbe nuclei of U* a* 0 ® 31 816 smashed into each other. Scientists at toe 
rant** Argonne National Laboratory, operated by the University of Chicago for 
apparent ability to destroy cancer , c Fjierev DenartmenL use sonhisricated detednrx tn nteavn 


IN BRIEF 

Ceramic Bone Substitute Used in Ears 1 

MIAMI (NYT) — A ceramic substitute for natural bone, called 
Bioglass, has been used for the first time to repair toe middle eats of 
human patients. Dr. Gerald Merwin of toe University of Florida Health 
Science Center reported. 

Implants of Bioglass in toe ears of 16 patient m toe previous 14 
months resulted in good to excellent improvement in hearing, he told a 
recent meeting of the American Otologies! Society in Miami. Biogjass is a 
transparent ceramic material invented by Dr. Larry Hench erf the Univer- 
sity of Florida. 

Because toe substance resists rejection by living organisms and bonds 
with natural tissue, it has found widespread use in bone implants, 
particularly in the repair of hip and thigh bones. It is also a candidate 
material for implanted tooth replacements. 




New York Times Service 

N EW YORK — A rare natural 
substance that has excited in- 


fungL Some citrus nurseries al- hT to®* coniskHuTboping to learn more about atomic behavior. y 

ready apply the microorganism, ^ wm p^oiy w tonea m mi- ^ rae practical ^ f OT ATLAS is to have streams of 

but numerous other fruits and veg- speeding atoms drill microscopic holes in a screen for purifying blood, 

etables grown in fumigated sods 80 rc P° The holes in the screen trap diseased blood cells, but allow normal cells to 

may also benefit from the proce- The substance is called tumor pass through. ATLAS can also measure rare forms of naturally occurring 
dure. necrosis factor. It was discovered radioactive elements that disappear over time, allowing scientists tc 

. — 10 years ago by researchers at Me- determine the age of fossils. The same method can be applied to fix the 

morial Sloan-Ke tiering Cancer ages of polar ice caps, meteorites and geographical features, such as lakes 
fi.* Center here and is thought to be a and rivers, 

uunese Oiamps key part of toe body's natural de- . 

Raise Revenue minute amounts "in' living animal* U1 FetUSeS Is Treated 

and h uman*, the substance is now NEW YORK(AP) — A potentially fatal form of irregular heartbeat in 

Fnr Aid to Pandas being produced artificially by gene- fetuses has been successfully treated by giving medicine to their mothers, 

splicing techni que s , a recent devel- according to Dr. Charles Kleuunan, associate professor of pediatrics at 
The Associated Press opment that pro mises to make toe Yale University School of Medicine. 

B F.i rtNG — The Chinese gov- available a large supply. . Digitalis alone or in combination with verapamil or propranolol was 

eminent has donated 100,000 - . . , g** 6 * 1 to “otoers and ultrasound scans were used to monitor fetal 


the U. S. Energy Department, use sophisticated detectors to obserw^ 
those collisions, hoping to learn more about atomic behavior. 




Chinese Stamps 
Raise Revenue 


HlhT 


ifc 










1 -LIAM LAWSON DIS' 
"COATBRIDGE AND; 

SCOTLAND 
100% SCOTCH WB 


f j-LED matured and Bl 

DER BRITISH GOVERNS 


D eminent has donated 100,000 
yuan (535,000) for rescue work to 
save toe endangered panda, toe of- 
ficial Xinhua news service report- 
ed. 

The money was raised by toe 


me xaic university ocnooi or Nieaiane. 

Digitalis alone or in combination with verap amil or propranolol was 

piw ti to th# mnfliatv oik 4 iiltmMHuiJ J 


pJw Sd^etommunicationl 

. ■ f .u, U > K rtf frtur mothMapy is often almost as da m * 

Muusny mom toe sates oftoiir utnTK^ 

commemorative stamps issued on 3“°^ 

May 25 that depict pandas, Xinhua 

said Tuesday. Dr. Herbert F. Oettgen of Ma- 

li Gulling, secretary general of morial Sloan- Kettering expressed a 
the Chinese Wildlife Conservation mixture of caution and nope. He 
Association, was quoted as saying said it would be worthwhile to test 
41 sick pandas were found last both the biosynthetic material and 
year, with 26 nursed back to health natural tumor necrosis factor to see 


avauaoie a large supply. . ij - m wauuuiauuu mw vcidpaxnu or propranoioi was 

„ . giwn to the mothers and ultrasound scans were used to monitor fetal 

Cancer scientists and spokesmen response, Dr. Kleinman $a id Of 15 fetuses so treated, toe heartbeats of 14 
for biotechnology companies say returned to normal in the womb and no recurrences were reported in ■£* 


_ ~ 1 v " ■■ ■■■ j*/ uvuiwu, uiu IUGgIj yi i*j 

Es/ISSkSK rctu ru^ to noraial in the womb and no recurrences were reported in ■£* 

toar mam hope is that tumor ne- years after birth, be said. ~ 

cross factor wtilprcnre to be a pow- Dr. Kleiiunan said toe disorder treated, known as supraventricular 
erful anti-cancer agent with low tachycardia, stemmed from a defect in the system toatTSulaS S- 


and 15 dying. . 

There are an estimated 1,000 gh 


if their effects are the same. The 
first clinical trials, he said, should 


| oere die oil cauiiiniw i,vwu tr k u o> uixunxu u in# jom, juuuivi 

ant pandas threatened by a rare involve cancer patients who cannot 
flowering cyde of their main staple, be treated successfully with any 
toe arrow bamboo. The bamboo conventional methods and yet 


Dr. Kleuunan said the disorder treated, known as supraventricular 
tachycardia, stemmed from a defect in the system that regulates heart- 
bea f’ J r ? lh f 1111111 1 0111 slructural problems in the heart. If not treated, it 
could lead to such conditions as congestive heart failure, in which toe 
hearns unable to pump out all toe blood returned to it, and to bleeding 
disorders and infection. 

Sailing Tanker Improves Fuel Savings 

TOKYO (AFP) — The 26,000-deadweight-ton Usuki Pioneer, toe tost 
sail-eqmpped ocera-gprag bulk carrier, has returned encouraging fuel 
“aite* 1 f 5 provca in its first comroerSl trarn- 

-Css- 


BROADCASTING to cable commnies 
IN EUROPE & THE UK VIA SATELLTTE 

"Europe's Best View' 



PROGRAM. THURSDAY 8th JUNE UK TIMES 


13.3S MOVIN' ON 
14S0 WAYNE & SHUSTER 
15.00 SKYTfiAXI 
15 46 SKY TRAX 2 
1130 SKY TRAX 3 
17.30 MR ED 


IBnO THE LUCY SHOW 
16.30 CHARLIE'S ANGELS 
1020 SKYWAYS 
aato THE UNTOUCHABLES 
21.05 DAVIS CUP TENNIS 
23.00 SKY TRAX 


SKY CHANNEL TV ADVERTISING SELLS PRODUCTS FAST - 
SKV TOR MORE INFORMATION. RATES. MARKETING • 
AUDIENCE DATA CONTACT SKY CHANNEL SALES. 
SWAN HOUSE. 17-19 STRATFORD PLACE. LONDON WIN 9AF 
SWAN ™^* LONDON fOI) 493 1166 TELEX: 268395. 


aaunie mis i^ure^ or 205 percent, toe report said. IVsitiD's twiSf 
computer-controUed paralld aerofoil type safe were for 
percent of the voyage against toe 70i ^en t 

Agency Cautions on Clove Cigarettes 

The health agency said it has received resorts nf i ■> . ... 

respiratory illness possibly assodatwl ««« 

asiScSS^fS-'ess 

Eugenol, the major cl } romc «>u&h- 

anesthetic. Dr. SueBinda^a S?* 1, ,s “ a dente/ 

there was not yet sufficient evilw Pointed out that 

be associated with it. U. S sales .if ri “,^ e r mine whatltealth effects may 
from Indonesia, increased fronTl^milli w * u ' c * 1 are i ra P 0 ned 

Mus. purchasers nM V™ miUion in ‘ 984 ‘ 

Morhidiiv and Morialiu V«U\ Repuri’ ^ 0 d * lhe a?cnc >' saiJ in i,s 


cnscDDnnuftf frrwrr 4 fiyTj. 


-am* i«AV9 r«DJ9 i«wr im 


— * ad j Pfw.E3avooen im.iso^Kr oitm 


fi 






Statistics Index 


HcmlbS&ribune. 


AMEX price* P.lt EonUnw neons M» 
AMEX mglB/tawsP.11 .Fltno rate notes P.11 
NV 5E nrlon P. B cold markets p, 7 
nvse hiafcs/imre p.id interest rotes p. ? 
camion uocm P.M Mnrketswwpory P. B 
Currency rales P. 7 Options P.U 

Commoaities P.T3 OTC stack P.U 
DNWeiWs P.U Other mortets P.M 


BUSINESS/FINANCE 


U.S. Slocks 
Report, Page 8. 


THURSDAY, JUNE 6, 1985 


Page 7 


WALL STREET WATCH 


Battle Lines Are Drawn 
On Defense-Stock Outlook 


P 


By EDVARD KOHKBACH 

International Herald Tribune 

ARTS — Like Clint Eastwood's peculiarly amused char- 
acter “Dirty Harry," the Reagan a dminist ration is strong 


on defense. Investors, too, have made their day in the 

IT this’ 


sector, up almost double the Dew average so far this year. 
Opinion is divided, however, ova* how much maze the stocks can 
throw their weight around, with apparently no real growth ahead 
now for the U.S. defense budget. - . 

"Basically, the United States has been rearmed," observed 
Alan Benasuli, who covens the industry for Drrxd Burnham. 
"The military cycle, which dates back to 1978, is tired. Backlogs 
and m argins are peaking.” 

While zecommending that investors “take profits on any 
strength” that the puro-mili- 


tary issues show, with the ex- 
ception of General Dynamics, 
he emphasized “a new element 
more important rtign the mili- 
tary cycle or fundamentals " 
"There’s a . tremendous re- 
structuring and consolidation 
wave rippling through the in- 
dustry, ne said “At least 10 


Some analysts see 
a war of attrition 
ahead for defense 
slocks. 


of being bought, 
action is. 


een bought or are in the process 
:’s a new deal every week. It’s where the 


M R. Benasuli admitted he does not know “where lightning 
will strike,” but thinks it is a worthwhile game for 
investors to play, because of the 30 to SO percent premi- 
um to shareholders in a takeover. 

He suggests a package of stocks, notably in the defense 
electronics field where growth is faster and the companies small- 
er. Watkins- Johnson heads his fist, coupled with Loral & Sanders 
Associates. He also sees acquisition possibilities among the 


defense suppliers, citing SPS Technologies, Precision Castparts, 
lies. Hexed and Moog. 


Rohr Industries, 

Raytheon is the “most attractive” of the stocks he does not 
think are merger targets. “Earnings- are re-accelerating and mili- 
tary backlogs are rising," he said “Also, not too many people like 
Raytheon, so there's room for it to-be bought.” 

However, George Shapiro of Salomon Brothers sees defense 
issue, particularly the large prime contractors, moving forward 
on Wail Street across a broad front. Ho has been strongly 
recommending the group for six weeks. 

“Valuations are cheap and fundamentals are firml y en- 
trenched, even with a no-growth defense budget,” he asserted 



group, against a backdrop of poor profits being 
reported elsewhere in the economy." 

Price/ earnings ratios of defense stocks relative to the rest of the 
stock market are selling now at a 30-percent discount, Mr. 
Shapiro said “at the low end of their historical range, with some 
issues discounted closer to 40 percent” 

His favorite valuation play is McDonnell Douglas. United 
Technologies and Boeing are the second and third chmces. Also 
at current price levels he likes Lockheed, General Dynamics and 
Northrop. 

Paine Webber’s Joseph Campbell perceives defense stocks 
caught in a kind of no-man’s-land. He is not strongly recom- 
mending any, although Lockheed Rockwell and Northrop are 
rated “attractive." 

“It’s undear now what the public will be willing to pay for 
1 these stocks," he said, pointing out that the price pattern has been 
for the issues to recover sharply in the summer arid fall after all 
the fighting words are spent in Congress in the first months of the 
year about slashing the defense budget. 

“But in 1985 that may not happen," he added “The usual 
(Cootmoed ou Page 9, Cot 3) 


Currency Rates 


OwwBalM 


June 5 



• 

E 

DM 

W. . 

ILL. 

owr. 

ILF. 

AF. 

Yen 

Amsterdam 

14545 

4JJ70 

11177' 

3498* 



1401 • 

13680* 

13875 r 

Brussels (a) 

61.7473 

78.1525 

38.141 

64075 

11555* 

17X0 

, 

23244 

2676* 

Frankfurt 

10471 

u 

— — 

H78* 

UMSx 

88475* 

4M5* 

1I8J8- 

UI* 

London (b) 

11578 

— 

ua 

I1772S 

145430 

43575 

77925 

ua 

31345 

Milan 

1#ST3» 

i HUB 

43872 

TO? 25 


SUM 

SUB 

15891 

MSI 

New vark(c) 

_ 

DlTBM* 

IMS 

*345 

wwjio 

34645 

4UB 

15755 

24* JO 

Porte 

M46 

1IU» 

30487 

— 

475* 

37041 

15.MS* 


37505- 

TMryo 

KM5 

31615 

1145 

2X71 

1271* 

7118 

40622 * 

*695 

— - 

nmm 

2477 

usn 

MS* 

2738* 

ami* 

7457* 

4170* 

— 

UM** 

1 ECU 

0.7307 

81771 

12111 

633J3 

143R3I 

iqp 

459330 

UB1 

U2.ni 

I SOB 

8.WSB7 

878421 

mwi 

MB242 

1JMU2 

14404 

4L4SM 

1502 

20436 


Closings in London anti Zurich, fixings in s0w European cmden. New York rates at 2 PAL 
fal Commercial fnwK lb) Alnouals needed to Our me pound id Amounts needed to bar tom 
tartar t’l UaitSBl NO (x) drtUsoflOOO (r) UmtsofmMHOu no* ousted/ MA.- notovaftobm 
fa) To bar one pound: UlS i S & S 

OtheriMHarValnM 


ui 
natoorWaa &J35 
Creak dree. 114JOO 
HMKMt) 77735 
1147 



Kmognricocy Pqwritt 

Seta 


French 

Jane5 


tatter 

D-Morte 

Franc 

Starting 

. Frac 

ECU 

SDH 

t month 

7 !h-7fk 

5W-546 

4M 

1246-I7K 

IDte-KM 

*u-nt 

78b 

3 months 

7H.7*. 

5h-5h 

41W 

1216-12*6 

IS 46-1016 

*46*16 

74b 

mMths 

7 7w7 tW 

5IV516 

4 46-516 

12 46-1216 

1046-1846 

V*6416 

74b 

month* 

766-746 

5VS-M* 

4 96-5 16 

12 >6-12 *6 

W 16-10 16 

* 46-* 16 

7*6 

1 tear 

Mtfc 

5IW4 46 

MM 

11 *6-11 *6 

1016-ID 16 

*46-* 16 

7*6 


Sources: Maroon Guaranty (tartar. OM, SF, Pound, FFt: Lloyds Bank (ECU); Reuters 
(SDRi. Rates oppUcoMs lb (ntnbank deposits at si motion mktkn u m (oreaalvaleni). 


K*y Mwey Bates Junes 



erne Pref. 
TVl 7» 
7% m 
IB W 
IB4M WH 


CaHl 
TMtavTttMWyBfli 
tiwwtfalrfartu* 


DtoONMt Rate 
GaHMUMV 
HMJar Intertask 


7JS 

7J7 

m 

&K 

*« 

7j07 

7J5 

7 JO 

7.10 

TOO 

LB 

MS 

540 

541 

570 

no 

575 

580 

SM 

5JB 

1Mb 

Utb 

18b. 

UK 

MB 

183/H 

MB 

MB 

18 

n 

m 

t» 


ran 

13 

1M 

MB 

MB 

5 

5 

iS/U 

*5 m 

iS/M 

. 


Sources: Reuters, Canmefsbtmh Owff 
L tannois, LUmk Book et TMm 


AabuMlirllcforits 

JuneS 


1 months 

3l 
Cl 

»1 


7W-74S 

716-716 

7V7K 

7W-7W 

i-m 


Source: Reuters 


PA M — e y Market Fmwte 

June 5 

Merm Ly«C Rmdv Assets 
rescrv oversea yteM: Ud 

TUerxan Merest itate lede*: 7ju 
Source; MenTRLmctLAP 



WnXim 


JuneS 

AM. PM. CM® 

n&a ‘ sun •'ttt 

3105 ■ - -LSD 

PWMUUUto) 3R7B ' 71U9 -2.W 

ewtea »uas sum 

LAMM 3MJB - 3M70 -’AS 

Mow York — • JU38 —040 

Luxmtxvru, Paris orxJ Loadon official ft*- 
kmte Haas Xona mill Znrkft anentao and 
akobm Prices.- Hew York Cemex current 
Bfiaxtn ILS .3 per ounce. 
Source: muter*. 


*>, 


Markets Qosed 


Exchange 
Voting 
Is Split 


Ownership Rule 
Changes in U.K. 


By Colin Chapman 

International Hernia Tribune 

LONDON — Members of Lon- 
don's Stock Exchange on Wednes- 
day approved a change of rules 
allowing international fimrarial 
companies and other outsiders to 
purchase full control of stockbrok- 
ing and trading firms. 

But they did not give the neces- 
sary 75-percent support to a consti- 
tutional mnmilmenl to the rules 
that would permit the gradual shift 
of ownership of the exchange fiom 
the 4,495 members to firms or com- 
panies. The change would have al- 
lowed shares in the exchange to be 
fredy traded 

Some leading exchange members 
said that the defeat would not sen- - 
ously impair the exchange's re- 
structuring, which is centered on a 
plan to introduce competitive com- 
mission rales rather than fixed 
charges by late next year. 

“It’s not a tremendous upheav- 
al," said Ron Brew, chief executive 
of the stockbrakerage of Grieve- 
son. Grant & Co. “It’s just messy. 
Some genius will now have to oome 
up with a better idea." 

The split outcome means that the 
most find ways for large 
institutions to nominate individ- 
uals as members without there be- 
ing a dear market in exchange 
memberships. 

About 82 percent of those voting 
! me change in ownership 
! control of member firms, with 
3,929 voting in favor and 681 
against. This vote ends a role limit- 
ing outsiders to a 29.9-percent 
dure in member firms. Most of 
Britain's larger stockbrokerages al- 
ready have agreed to be purchased 
by banks and other outsiders. 

The result was seen as only a 

(Cautioned on Page 13, CoL 7) 


Packaging Assets for Capital Financings 


hwMtwrn Stood bom (Mb 


CotaMar 

UnWltas 


run 


I Loom Financial Corpu Brat Boston 

r notes backed by Carp, 

computer leases. 


SlBZmMon: 

3/7/85 


Complain' 11.24% 


FTtntarMaUd. 

(International Paper Co.) 

UntaoiBntftsdpsrtneraMp 

MOTMtB. 

Dtan Wftfcr 
Roynolda 

S57-5mWan: 

3/77BS 

Tfcntmtaid Current 
afler-tsuc 
yield o»ll% 
based on 
$?3 per unit 
ottering 
Price-t 

FbwtOfMRaMCTMftCofp. 
30-etey cornnwrelal paper. 

Martin Lynch 
Capital Marfcots 

S140m8Boa; 

6/0/8* 

Credit card 7.40% 
receivables 

HUlCarFbMacvInc. 

Mflflm lOdtend Banka IncJ 
CaftHoatK alowfno bnaftxs to 
racahta interest and principal- 

Solomon 

Bremen 

SeOmtton: 

5/18/85 

Automobile 9.7% 
loan 

racahmUas 

lOhtaehuftlin all stem in B5% ol nwomMi M coats of ttm&erhwveatlna and rataa through 12/SI /Oft and 446 



Dm New Yote Tin 


Securitization: Regrouping Assets 
To Create New Sources of Money 


By Fred R. Blcakley 

New York Times Service 

NEW YORK — A decade or so ago, when 
banks and thrift institutions were awash with 
mortgages, someone decided to group the mort- 
gages into pools and then sell shares in those 
pools. The technique gave bankers the cash to 
write still more mortgages and it created a new 
security that ordinary investors could buy and 
sdL 

These days, increasing numbers of companies 
and fin an rial institutions are raising money ' 



mg at Dean Witter Reynolds Inc. “The mind 
boggles at the number of thing s you can da" 
Indeed, among the other possibilities that Wall 
Street already is working on are pools of small 
business bank loans, credit card receivables and 
natural resource properties. 

“By going down the balance sheet, asset by 
asset, companies and financial institutions are 
able to open up a whole new Odd for funding," 
added Gordon B. Patlee. a managing director of 
Merrill Lynch Capital Markets. 

Asset-based financing has been around for 


abHc: 

r borrowed $192 million 
on computers. The 
regular rental payments from companies leasing 
the Sperry computers go to pay down the debt. 

• Several lag banks have sold pods of auto- 
mobile loan receivables. The banks continue to 
service the loans, but principal and interest are 
passed through to investors. 

• International Paper Co. has put cfsr *nfn 
timberproperties in trust and is selling participa- 
tions. The buyers get a portion of revenues from 
timber cutting , plus tax advantages traditionally 
enjoyed in the amber business. 

• UAL Ino, the parent of United Airlines, 
announced last Friday that it would spin off 
some of tire hotels it owns into partnership trusts 
to be sold to the public Investors in the trusts 
would share what the holds earned. 

In one variety or another, all this is called the 
“securitization” of assets, and the process is “the 
hot new game in creative financing" said M. 
William Benedetto, director of investment bank- 



loans to one another. Banks and automobile 
Rimma companies have for some time pacfcwgprf 
pools of car loans for sale, but their efforts 
focused on private sales to institutional inves- 
tors. 

Investment bankers credit a ruling by the Fi- 
nancial Accounting Standards Board that took 
effect at the start of last year with sparring the 
current boom in asset financing . Although the 
subject now is being re-examined by the FASB, 
the rule-making body of the accounting profes- 
sion, the board detailed the steps necessary to 
undertake this type of financing , much of which 
is not reflected on the balance sheet 

The ability to raise cash that otherwise might 
not be available — or available at comparable 
cost — is based on the principle that in general, 
the parts are worth more than the whole. 

Instead of asking investors to evaluate the 
overall strength of a company’s balance sheet 
(Continued on Page 9, CoL 3) 


Spot Oil Prices 
Weaken as U.K. 


Cuts Its Quote 


Reuters 

LONDON — Free market oil 
prices -continued to weaken 
Wednesday as Britain's sta- 
te-owned oil corporation an- 
nounced an expected cut of $125 a 
barrel in the price of the key Brent 
blend of North Sea oiL 

Despite weak prices on the spot 
market however, traders say other 
producers outside the Organization 
of Petroleum Exporting Countries 
are hesitant to make a move. The 
recent steady fall in spot or non- 
contract, prices has increased pres- 
sure on the Soviet Union, Mexico 
and Egypt to grant substantial 
price cuts to contract customers. 

British National OQ Corp. said it 
would cut the price it pays to sup- 
pliers for Brent blend to $26.65 a 
barrel from $27.90, reflecting 
steadily falling rates on the Europe- 
an spot maikeL On Wednesday 
buyers offered $26.20 for a band 
of the same bleod delivered next 
month, compared with 526.35 a 
barrel Tuesday. 

The corporation's monthly sup- 
plier prices are based on the aver- 
age price received Tor sales during 
the preceding month. Industry esti- 
mates of the volume of crude oil 
covered by the new supplier price 
for June varied from 120,000 bar- 
rels per day to 300,000 bonds per 


Saudi Arabia's output dropped 
to about 2.8 million barrels per day 


last month. 1.5 million barrels be- 
low its OPEC quota. Saudi Arabian 
output has fallen because it has 
stuck to official OPEC prices, 
which are more than $1 above spot 
prices. 

The Saudi economy has been 
showing signs of strain fi-om low 
production for some time: Bankers 
say many companies are in the pro- 
cess of restructuring debts and oth- 
ers have gone to the wall. Real 
estate prices have tumbled and gov- 
ernment projects have been post- 
poned, delayed or abandoned. 

An economic slowdown was in- 


evitable after the rapid years of 
1970s and the 


day. Britain's North Sea oil output 
jarras 


is now about 2.7 million bt 
day. 

Traders said the 1 price cut would 
have little impact on the market as 
the British government has an- 
nounced the impending closure of 
the corporation, which is now 
winding down its operations and 
trading a much smaller volume of 
oil than before. 


develop mem in the 

government says most of the neces- 
sary infrastructure work in the 
economy is now complete. 

But after two years of big budget 
deficits, the government earlier this 
year signaled concern that it may 
have been eating up the country’s 
foreign reserves too quickly and 
said it would balance the budget. 

Bankers estimate between $10 
billion and $20 billion of its re- 
serves. now estimated at $100 bil- 
lion. were used up in 1983 and 
1984. 

Even so, Saudi Arabia would not 
lightly decide to turn on the oQ 
taps. Oil Minister Ahmed Zaki Ya- 
mani said last week that it was not 
in Saudi interests to engineer a 
large fall in prices and boost pro- 
duction. 


Study Says Distortions Curb Third World Growth 


By Cail Gewirtz 

International Herald Tribune 
PARIS — “A legacy of economic 
distortions" is the main reason 
most developing countries will fail 
to reach reat or inflation-adjusted, 
growth rates of up to 7 percent or 
more over the long run that should 
otherwise be possible, says a report 
issued Wednesday by the Group of 
Thirty. 


The report was written by Pro- 
fessor Helen I 


Hughes, a former se- 
nior official at the World Bank who 
is now executive director of the 
Development Studies Center at 


Australian National University. 

1 is a nonprofit 


The Gray of Thirty is a nonpr 


organization which explores the 
ib functksni 


basic problems in the functioning 
of the international economic sys- 
tem. 


The 


cwrreuof nr OU 
Aram. Pda 609.32 
Austral. I 15274 

AMtr.wML 3146 
Bste.fln.fr. 61J2 

Brazil era, MS 080 taferw** 1.11MB PortSfCOta 1720) TUMI 2MM 

CMOdtant 137 MAC WTO SotaH rival 16HIS. ■ TocWABro 527 JO 

Doatsb krone 18JM teroeflabek. 1,07140 1M.I 221 AS UAEtkrtjam 14735 

EoypI- pound 02463 Ksvrefll atnor 03027 S. Afr.rostl 1*861 Venn, baflv. 1100 


r OSS Currency per IIU 

Motor- rim. 1463 s. nor. won 17175 

Max. pets 271 JO Span, peseta 17165 

itorw. krone M3 Smfl. kreaa MTV 

PUL peso 1M475 TMwwit 3*77 


ten study on why 
some developing countries have 
grown rapidly while others have 
not links failure to ideologically in- 
spired distortions, notably through 
over-planning and regulation, that 
foster “inward-looking” strategies. 
Success is seen to flow from flexi- 
ble, market-oriented policies which 
prodace export-oriented econo- 
mies. 


KSterflw: 12361 Irish I f 

Sources; Bonoue du Benelux (Brussels); Bunco Cammemktie (Ulna (Milan); CtwmJcai 
Bank (Now York); Bonoue Natlonaki Be Paris (Paris); Bank of Tokyo (Tokyo); IMF (SDR); 
bah (dinar, rivet, Mmomk Other dMo Ann Rosters oodAP. 


“More rapid and sustained 
growth cannot be accomplished 
without profound ideological 


changes in countries la g gin g be- 
hind,” Professor Hughes says. 

Countries can be devdqpment- 
oriented regardless of size, natural 
endowment or political structures. 
“Growth can be fostered by either 
a democracy or an autocracy," she 
writes. 

The professor identifies four de- 
veloping economies of East and 
Southeast Asia — Hong Kong, 
South Korea, Taiwan and Singa- 
pore — as having had the fastest 
national product growth since the 
1950s, Three other Southeast Asian 
states — Indonesia, Malaysia and 
Thailand — were the second fastest 
growth group, the report says. 

In addition, Spain, Malta, Mau- 
ritius, Jordan, Barbados and Co- 
lombia are cited as having suffered 
the least setbacks in the recession 
of the early 1980s. 

Noting that prior to 
changes m the 1960s South 
was regarded as an economic “bas- 
ket case,” the report says countries 
that grew rapidly “recognized that 
uncertainty is the n ormal , perva- 
sive state of the economic environ- 
ment. . . . Econo m ic policies there- 
fore have to ensure that economic 
units are flexible so that they can 
handle uncertainty. Because uncer- 
tainty entails risks, individuals 
have to be encouraged to take ini- 
tiatives. 

“This means that ... workers. 


managers, savers and investors 


have to be stimulated to bepzodi 
w profits 


bve 


wages, salaries an 
to the risks they take and the 
efforts they make," the report 
notes. 

The basic framework that gov- 
ernments need to get it right, the 
report states, are monetary, finan- 
cial and associated exchange-rate 
poBdes, as well as trade, fiscal 
manpower and labor polkaes. “To- 
gether these policies determine rel- 
ative prices within an economy and 
the overall course of prices over 
rime- Education, health and other 
welfare policies determine the com- 
position, skill, organization, and 
productivity of the work force and 
how income is distributed," the re- 
port says. 

Government policy aimed at al- 
leviating poverty by redistributing 
income is hke putting the cart be- 
fore the horse, the report indicates, 
as “only countries that grow ra; " " 
ly have the means to redistribute 
income." Countries ri>m had “poli- 
cies heavily skewed toward equity 
without due attention to growth, 
such as Tanzania or Jamaica, 
achieved neither,” (he repeat adds. 

The study is especially critical of 
the “confrontational posture” of 
economic policy vis-a-vis the in- 
dustrial countries, popular espe- 
cially in T-arm America, much of 
Africa and the MideasL 


These countries “were comfort- 
able in this intellectual environ- 
ment which blamed neo-colonial- 
ists rather than their own policies 
and management for economic 
failure. A new ‘development eco- 
nomics’ justifying the failure of 
many developing countries to 
adopt growth-oriented policies be- 
came established, notably in devel- 
opment institutions in industrial 
countries, thriving on meetings and 

( Co n tinued on Page 13s, CoL 8) 


MeanWhile, industry sources re- 
ported that Saudi Arabia, its oil 
output at a 15-year low, has threat- 
ened to use its huge oil market 
muscle as OPEC's largest producer 
to bring into Hne members of the 
organization that are exceeding 
their quotas or cutting their prices. 

Oil ministers and delegates who 
attended OPEC’s ministerial coun- 
cil in Taif, Saudi Arabia, this week 
said there was a clear warning that 
Saudi Arabia was tired of cutting 
back on output while others ex- 
ceeded OPEC quotas and cut 
prices. One delegate said King 
Fahd of Saudi Arabia told the 
meeting in a message that “if some 
OPEC producers sdl as much oil as 


they can at any price, then others 
be free to do as they 


will also 
please. 


SheUtoBuy 
Oxy Oil Assets 


Reuters 

LOS ANGELES — Occiden- 
tal Petroleum Corp. said Shell 
Petroleum N.V M a principal 
holding company of the Royal 
Dutch/ Shell Group, has agreed 
to buy 50 percent of Occiden- 
tal's oil interests in Colombia 
for about $1 billion, of which 
$750 million in cash will be paid 
upon closing of the salt. 

Occidental said the two com- 
panies expect the dosing to be 
on or about July 1. 

It said the sale involves all of 
the stock of Occidental's Co- 
lumbia-Cities Service Petro- 
leum Corp. subsidiary, which 
owns 50 percent of Occidental's 
interest in an association con- 
tract in the Crabo Note block. 


Jobless Total 
Declines in 
W. Germany 


The Assocutied Press 

NUREMBERG, West Germany 
— West German unemployment 
dropped to 1193 million in May 
from 2304 nullion in April, reduc- 
ing the unemployment rate to 8.8 
percent from 9.3 percent of the la- 
bor force on an unadjusted baas, 
the Federal Labor Office reported 
Wednesday. 

But after adjustments for season- 
al factors, unemployment actually 
rose to a record for May of 2333 
million persons, compared with a 

seasonally-adjusted 2317 miffion 

in April and 1274 million in May, 
1984. 

The president of the labor office, 
Heinrich Franke, - described the 
May unemployment figure as “dis- 
appointing.” The rate was still 
above the 8.6-pcrcait level regis- 
tered in May 1984. 

"The economic situation in the 
unemployment market has not im- 
proved," he told a news conference. 

Mr. Franke said a total of 
144*900 job openings were reported 
to the labor office, an increase of 3 
nfrom May 1984, but aslight 
from the 147,400 vacancies 
reported at the end of April this 
year. 

■ Rbo in Demand Seen 


Financial markets were dosed W 
for holidays. In West Germany,, they 
holiday. 


iii Malaysia and Denmark 
be. dosed Thursday for a 


West Germany's DIW Economic 
Research Institute said Wednesday 
that consumer demand should pick 
up in the current quarter after a 
sluggish sian to the year, Reuters 
repented from Berlin. 



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Page 8 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


J 


NYSE Most Actives 


BnfcAm 

□lams 

AtnEno 

UWM 

PbCGE 

IBM 

NsoseB 

MoLyn 

FordM 

SFeSoP 

UnlYe, 

GMttt 

IntNrtti 

FedNM 

PoMPr 


VOL Hto 

31464 19* 
21309 16V, 
19122 47V, 
1B3V5 «7V 
IMIS 20V. 
14445 130* 
14X7 81* 
BW J7\i 
13427 45V. 
13144 31 Vi 
12W4 25 
I22SS 72* 
12071 4916 
lists 20* 
11345 7* 


In LBI Oft. 


im — * 
16* — % 
47* + * 
86* 

30 

128V4 —IV, 
81* + * 
22* + * 
44* + * 

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48* 

20 * +* 
7 


1916 

IS* 

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£ 

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32* 

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Dow Jones Averages | 


Op«n hWi Law ban as. 

Indus 127054 1331.77 131261 132056 + SJ6 

Tram 65356 64073 *4453 65560 + 172 

Util 16403 1642S 16250 16SJB— 05* 

Camp 545.10 54476 S41 S7 545J6 * 1-41 


NYSE Index 


Today 

h» ' -Low data IPJB. 

a igg m iss 
w w w 

11B3B 117* 11150 11475 


Cuuwusfte 

industrials 

TransO- 

Utilities 

Finance 


Dow Jones Bond Averages 


Bands 

uiimm 

induitrtaii 


Class 

7464 

7772 

SU7 


Today 

Naea 

w 

8151 


NYSE Diaries 


Clasa Prav. 


Advanced 
Decllnaa 
Uncharged 
ratal ls»e* 

NSW HAM 
NSW Lows 


490 

633 

430 

3053 

321 

IV 


1013 

94 

440 

2037 

» 

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Odd-Lot Trading in N.Y. 


June 4. 
June 3. 

May 31 
MW 30 
MW 27 


Bay sates *SAY! 
199511 30568 2047 


'Included ta tfut totes Itauras 


171807 <27533 1JD0 


Wfednesdapl 

MSE 


VoLoJJPM. nauuoo 

Pr0V-JPJ8.Wi._ 9Z37BJ00 

PrayanoUaleddOK 137,711,773 


TO Wes include the nationwide prices 
up ta Hie dosing on won street and 
da not reflect lata trades etetwhere. 
Via. The Associated Press 


AMEX Diorjes 



Advanced 

Daeiinad 


Total Issues 
Now Htata 
Nsw Lms 


312 

3 

13 


26V 

277 

290 

796 

as 

12 


W«aft Tsar 
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Asa A9» 




5S70 - 34707 

290.45 — gjj 7 aii» 4 

= StS Sw 


Standard & Poor's Index 


Today 

Hlvti Law QsM 3PJ8. 

ItVUaMatS THUS 2W05 21056 

- WUB StS 18BM 16U4 

B66I 86.14 8655 B67B 

2117 2197 ZJ.I6 2129 

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116 IS* 18* IB* + * 
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1785 57* 57 57*— * 

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139 28 27* 28 + * 

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IB Id 2527 37* 37* 71* 

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16 1 34 34 34 — * 

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26 1 65 65 65 42* 

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34 13 1740 S3* 52* S3*— * 
3.9 23 106 23Y J 23* 23* 


Volume Widens on NYSE 


United Press International 

NEW YORK — The New York Stock Ex- 
change was above its record dosing high late 
■Wednesday in heavy volume, aided by lower 
interest rates, a cuL in crude oil prices and 
prospects Tor low inflation. 

The Dow Jones industrial average was up 
8.07 to 1323J6 about an hour before dosing 
Advances led declines by a 5-2 ratio among the 
1.976 issues traded. 

Five-hour Big Board volume amounted to 


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


about 118.3 million shares, compared with 
about 914 million in the same period Tuesday. 

New closing highs for the New York Stock 
Exchange composite index and Standard & 
Poor’s 500-stock index established Tuesday 
prompted early buying, analysts said. 

AJ though it was expected, British National 
Oil’s cut in the price of Brent crude by $1.25 a 
barrel pushed bond prices ahead on ibe ratio- 
nale that the lower oil prices will help keep 
inflation low. The falling interest rates renewed 
the vigor of the stock market's climb, analysts 
said. 

“Stocks are playing catch-up with the bond 
market” said Peter Furniss of Drexd Bu rnham 
Lambert The extended rally in the credit mar- 
kets, especially over the last month, and conse- 
quent mortgage rate declines confirm a lower 
interest rate environment be said. 

Mr. Furniss said that the lowo* interest rates 


coupled with expectations for lower oil 
with low inflation bodes well for stocks, 
yields on fixed-income securities also may en- 
courage some people to take their profits in 
bonds and get back involved in equities, he Fsid . 

Mr. Furniss noted that some institutional 
investors remain concerned that the cause for 
the lower interest rates is a weakening economy. 
Bui he said that the rates show (He Federal 
Reserve is taking “positive action" to aid the 
economy. He said that another discount-rate 
cut is immin ent and that another round of 
prime-rate cuts is in the offing. 

Alfred Goldman of A.G. Edwards & Sons in 
Sl Louis called the market’s action impress i ve. 

“Every time the market pulls back a tittle, the 
buyers come roaring in." be said. “The momen- 
tum says we are going higher.” 

Noting the Dow's 80-point climb over the 
past four weeks, Mr. Goldman that the 
market does not seem to want to give back 
gains. 

“That indicates that there is s till money that 
wants in and that investors who already own 
stocks are comfortable holding them.” Mr. 
Goldman said. 

In the credit markets today, prices of long- 
term government bonds, which move in the 
opposite direction from interest rates, moved up 
more $5 to SJO for every $],000 in face value. 

On the trading floor, BankAmerica was ac- 
tive but off marginally. The bank said Tuesday 
that it expects to break even in the second 
quarter. Standard & Poor’s lowered its rating on 
BankAmerica ’s commercial paper. 

Litton also was active, but unchanged. 


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280 0.1 9 

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70 S3* CwE Pf 

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3Sto 21* CPsves 
3Sto X Catnpgr 
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UVi ID* Canrac 
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220 IX% Cor EM 600 73 
44 35 CdnEM 4 85 102 

4ffto 38* Con E Pi SJ» 108 
36 20* QraFrts 1.10 38 11 

47* 31 CnsNG 280 SJ * 
8 4* CansPw 

53 25* CnPpfE 77} 1<6 

28* 11% CnPprV 480 1SJ 
24* 9to CnPprU 380 15J 
25% lOto CnPprT 078 ISO 
X% llto QlP PTR 4 JO 1X1 
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26% ID to CnPpTN XB5 ISO 
17* 7to CnPprM2J0 1L9 
16% 7 CnPprL L23 US 
27 17 CnPprS 4232 14 2 

17 7to CnP prK 283 MJ 
47* 23% CntKp 280 SJ 
10* 4* Cat till 
4* * Centllrt 

49 17 Cut I II pf 

4% * CfKHdn 

11 4% Cntlnfo 

24* 18* ContTM IJO 7J 
30* 24* CtOota - * * 

40% 33 CnDtPf 
33% 25to Corned 
Sto 1 vICookU 
34* 27 Caapr 1J2 
30 30 Cooclpf L90 

27 12% Coop Lb 

20* 12* CoprTr 80 
26* IS Caapvta 80 
19% 11* Cupwld 84 ... 

26to 19to Cpwldpf 288 114 
27* 17* Cardura M 15 1* 
15to 10% Carein M A7 11 
41* 3V* CornGs 1JB 
21 CorStk IJO 


7 3301 




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1-10 


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16% ,7 + * 

2001 70 70 70 

2 23* 23* 23* 

160 26 2 Sto 25* + to 

3002 61 61 tl +1 

380 27V. XV, 27* + * 
1521 32% 21* 37% + * 
807 34* 34* 14*— * 
X 27* 27 27 — * 

777 16* 15* 1 5*—* 
1245 14* U% 13% —I 
457 35* 34* 15*—* 
2D9 24% 24* 24*— * 
* 18* 17* IM + * 
X 29* 29% 29*— to 
138 IS* lJto Uto— to 
4300 36 35* 35* + * 

1 223 223 223 +3 

T730z <5% 44% 45% +2% 
18 48% 48to 4816 

915 32% 32* 32* 

568 4Z* 42* 42*— A 
15 1915 7 6* 6* — * 

3001 S3 S3 53 +1 

3720 X* 2B% 28* 

80 23% 23* 23*—* 
54 25* 25 25* + to 

63 26* Xto XV] 

32 Xto 25* X — to 

4B X 25* 25*—* 
32 Uto 17M 10 + % 

44 16* 16 M* ■ 

51 27 36* X*— to 

41 17 16* 17 

566 45 44% 44% — to 

342 7% 7* 7% + tfc' 

487 2 I* 1* 

10 48% 48% 

1911 to * 

405 11 ltPa 10* 

2M1 24* 23* 23* 

1112 31* 31* 31% 

lOQX X 31 30 

15 13 105*31% 31% llto—* 

32 I* lto 1* 

713 M* 3Sto 3«b— % 
75 36* Xto 36%— * 
783 14% Uto 13*—* 
48 IV* If 19 
346 27 26* 26*—% 

2 12* 12* 12* + to 

5 21 21 21 — to 

IX M* 23* 23*— to 

16 12 12 12 

10 18 1100 42* 41% 42to + * 

Sl _ 707 4716 Xto 47 


Tfc 


11 6to FH Ind 
68 X FMC 

25% 17* FPLGP „ _ 

13* 9* FcbOr JS 2J 25 

14* 9* Facet 1 

20* 14* Pdn» JO SJ 
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16to 10 Folr« .10 U 9 

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19* I3to Fared si 80 19 13 
30% 23 FTWMF 4 

xto i4* Foran jo 48 0 
13 8* FayOrp JO L0 17 

6to 4to Fedors B2o J B 
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45* 31 to Fed Exp 33 

39 29% FditokB 1J2 4.1 11 

20to 10% FedNM .16 J 

27 ,6* FcdPBs JO U 1 

63 45 FPoppt 1X0 28 

27to 2Sto FPQppf U1 U 

23 16 FedRIt 184 6J 14 

19* 13% FdSpnl JO 48 16 

65* 44* FedOSt 25, If f 

32 22to Ferre L2D <1 14 

37 25to FPdBd LOO 78 12 

15% 4 FinCpA J51 

5% 3% FlnCPPf 80 118 

45% Uto FlnCPPf 473el9J 
5% 2% FnSBar 

22% 16* Flrestn JO 33 10 
24to 12* PtAtlS 88 11 t 
57% 50to RAtlpf 6.17c! a9 
37% 21to FIBItSy 180 AJ B 
35 25% FBkFla 1X0 15 12 

74* M% FBwt 1J0 15 12 
27 IS* F stOrlc IJ U B 
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18% llto FtBTex 150 105 9 
54 37* FtBTxpf 556eI5X 

21 8* FKIIV 8 

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57* 33* FFB 30 U 1 
53* 30* Flntsta 254 <4 8 

33 21 Flntktpf 257 75 

11* 7* FIMJta 54 28 9 

24to 16 FtKatan 15 

7* 4% FstPa 
30to 2016 FstPapt 282 9J 
31% 24* RUnRl 1.92 65 16 
25* 14* FTVoBfc JB 35 10 
28* 14 FIWIsc 750 45 8 
S3 45* FWHCPf 6X5 12J 
53% 30* Fbddt IJO 3J411 
M* lto FtatiFd 5Se J 
39* 20* FltFnG»lJ2 IS 9 
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26* 14* FtaetEn 56 IJ 9 
39* 23* Flemno L00 28 14 
331, 23* Flesiv 50 25 13 
Uto 10* Flexlof 181 128 
26* 14% FlpMSIs 22 

31to 14* FioaTPT 16 

45% 29* FKjEC .16a 8 14 
X* 18* Fkjprg LM 73 10 
10* 11* F18S4I 
6* 3to FlwCen 
71 11* Ftdwrs 

70% 14% Fluor 
58% 47* FoafkC 
51* 34* FardM 
12* lOto FfOeor _ 

74* 52* FtMawd 184 
15% 10 FoifWh M 
IIU 6* FbxStP M 
33% 25* FoxPro 104 
27 24 Ftaanrr 

22* 27* FMEPn 
11* 7* FMOG 
22* 13% FrpttWC 
34* 21 to Frtgtrn 


11 

M 

5* 

115 

118 


9* 9* 9* + * 
63* 63% 63% + to 
25% 2S% 25to + to 
11* Uto llto— * 
12 * 12 * 12 *— * 
15% 15 15* + * 

36% 35* 36% + * 

2305 14% 13* 14 — to 

1312 23% 23 23V, — % 

19 15% 15% 15% + % 

13 29% 29to 29% 

<3 19% 19* 19* 

164 10 V* 9% 

57 4* 6 4 

74 39* 39V. 39to — to 
1504 43% X* 43* + to 
246 37 34 36* + * 

11355 20* X 20% + * 


_ 15* 15% IM— to 

3 45% 45% 45* 

3a 27% 27* 27* + M 
144 22* 21% 22 + * 

IX 18* 17* II 

536 65% 65 65% + * 

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10 27 X* 27 + * 

4701 Sto 7* 7*— to 

4 5to 5 Sto 

118 M* 33% 34* + to 

251 5% S* 5%— * 

704 22 21* 21*— * 

537 21% 21* 21* — * 
181 56* 56to 56*—' 1 
411 37% 36* 37% + * 

21 M* 13* M + * 
1012 70 75* 77* +3* 

2439 25* 34% 24%— * 
10 TSto 78* TOto + to 
332 12% 12* 12*— to 
12 38 38 38 — to 

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83% 41 CrovRa 18 ,165 79* 77* 77% —2* 

19* 15* CrckM pf 2.18 118 13 IB* 18% 18% + % 

51* 50% CrCkNpf 1435 SB* SJ% 50* + * 

23% 16% CrmpK 130 54 11 88 22% 21* 22V.— to 

41 35% CrwnCk 14 177 61% 60* 60*— * 

44* 27* CrwZef 1J0 23 M 1497 40* 4D% 40* + ft 


50* 45*CrZMpf 483 98 
65to 50 CrZel pfC450 78 
30 20* Cufbro 00 L7 10 

33* 15* Cullnets 33 

88% 60* CumEn 230 33 4 
18* fto Currfnc U0a10L7 
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323 69* 6Vto 60* 

40 10% 10* lOto + % 
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JO 49* 49* 49* + % 


15 IS* 10* 18* 

54 ID* 10* 10*— * 
023 29* 28* 29 +% 

342 7* 6* 7% + * 

84 11 10* 1S%— * 


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15* 9to Damon C jn IJ 
30% 21* OanaCP 1J8 48 I 
8% 5% Danahr 11 

15 B% Dante, .18b IJ .. 

107% 71* DortKr AM A4 12 8X107 106*186% + * 

34% 23* Dart K wl 468 35* 3S% 35% 

76 M* DafaGn 10 2763 37% 33 36 —2% 

^ n* PatPril . 6044 U* 12* 13% + * 

12% 8% DtaDsg J428 10 S7 9%B*9* + * 

TWx 12* Day Co J4 18 9 71 17V 17V. 17% + % 

4Sto 28 DoytHd J4 IX 16 2415 X 44V, 44* 

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39% 21% DpanFd M 18 X 372 « WV.40+* 

D* 24* Deere IJO 34 X 2242 29% 29V, 29%— * 

=* 17* DdmP 1.92 75 10 103 25* 25% 2S* + to 

48* 27 DettaAr JO 18 8 1538 49 X* 4 S* + to 

7* 4to Dettooa 18 5% 5% 5%— * 

37% 19* DlxQis SI 24 II 568 38% 36% 37* + * 

X% 17* DenMf ■ 1JD A4 14 X 27 Xto 27 + * 

37* X* DeSele 140 <0 11 30 15 34* 34* + % 

17V. U* Del Ed IM 9X 8 4054 17% 17 17% + * 


DefEpt 9J2 12.1 

T, 


76 S9 __ 

63% X DetEpf 785 1._ 
64* X DetEpf 7J6 11 J 
19* DEplF 2X5 V 
27* 20% DE PTR 
27 19% DEPfQ 

26* 19% DE MP 
25% 20 DE MB 
28% 21to DEpfO 
1% 20* DE pfM 
5% 24* oE erL 

33* 24* DE MK 

20 Uto DetE pr 2JB UJ 
24 17% Dexter «J U 11 

15* 9* DIGtor 84 <1 
29% 21* DIGIapf L2S 73 
21* 16% DkunS 1X6 108 
38* 34* DloSftpf 4J0 10J 


59 37 DUMl I JO 

T25* 77* Digital 
89% 45* Dfsnev I JO 
16 30 DEI L60 

6to 3% Dhrraln 
14* 6% Oomeg .U 


lOlOr 78 77 77 +1 

1728s 64% 64to Mto +1V. 
28307 64* 64 Mto— % 
& 25to 25 2SU, + to 
39 27% 27to 2716— % 
113 27* 26% 26* + * 
U 26* Mto 26* + * 

S 25* 25 25% + % 

28% 38 25% + * 

2» 29% 23% 28% + % 
42 32* 22 37* + * 

22 34V. 33% 33% + to 
22 20 19* 19% 

60 20% 20% 20* 

225 15* 15* 75* 

23 29to 28* 29% + * 
*21192 16% 15% 1616— * 
244 37% 36* 37 — * 


LJ 11 583 44% 43% 44% + V, 

12 7928 105* 98V. 99 
U 57 425 87 86% 86% — % 

SJ 6 13 45% 45* 45% + * 

4 186 6 5% 6 

2016 7* 7% 7% + 


32* 21* DomRs 2X2 8+ 9 1115 31% 31to 31* + to 

££ J6 XB 9 M 17* 17% 17% 

60* 15% Dentav 1.16 IJ 17 270 61* 61 61* + * 


Dto Darkev 1X0 40 


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M* 25* Oewcn 1J0 

51% Mto Dowjn XB 

13* 11 Drawn _5D 

£to is* a raw JO 

20% ,4* Dr axB 200 
54* 25% Dreyfus JO 
<1% <3to do Pori LOO 
31 31 auPntpf UO _ 

47V, 39 OuPntpf 4J0 9J 
34 ZJto DvkeP TAB 73 
137 97 Duka pf 6X5 A8 

77* 99% Duke p, SJB ISA 
74% 57 Duke Pf 700 IU 
27 21* Dufcppf 209 10J 

34* a Dufcppf 085 11.1 
106% 09% Dufccpf 11J0 104 
82% 64% DufcpfM U4 105 
BOV. as* PunBrd 230 23 
17 11* DWU 706 124 

16% 12% D«l pf 200 13.1 
17* 12* DuqprK L10 120 
18% 14* DUSPT 241 12X 
25% 23 Duspr 2X5 114 
Mto 43% Dwqpf 7 JO 1ZJ 
16% 8% DvcoPt M 56 

26% 17% DvnAffl JS J 


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4J 

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5.1 13 39S2 


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S2 13 S6S3 34% 34* 34*— * 
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38% 37* 38 + % 

49 47% 48% +1 

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lews 78% 77 78% +3% 

13900* 74% 74 74* +1* 

19 a% a% m% + % 

33 34* U 34* + * 

17780X106* 106% 106% — % 
9410zS4% 83 84% +3* 

22 1211 78% 77% 77*— * 

B 1536 16* 16* 16* 

401 15% 15% 15% + * 
17 16* 16* 74* + % 
<70* 10% 18% 18% + * 
310x24% 24% 24% 

480c 58* 58% MVa + * 
9 36 18* 10% 10* 

12 SO 28 2S* 2S%- * 


40* a* EGG 
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31* 22* E Sysl 
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20* 12 Etaco 

9% 3* East Air 

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28* 21% EastGP 1J0 £5 02 
21* 12* EOkfUtl 206 90 7 


M IJ 23 099 41* 40* 41* + * 

1X6 73 68 17* 17% 17* + % 

. JO 10 U 1DB4 30% 30 30* + % 

UM A3 9 M3 Hb 24% Mb-* 

M 31 2 19* If* if* 

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SIS 4% 3* 4% 


sa 1% i* l* 

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147 Q% 22 22 

47 27% 24% MA- % 

359 « 23% 23%— * 

159 21* M* 21* + % 


52 41% EiXods 12 MS4 44* 48% 44 

60% 40 EPtan 100 20 7 1440 55* 54% 54%—% 
30* 20% E Chita 08 30 12 906 24* Mto Mft— % 

32* 28, Eckerd 104 40 12 2819 28* M% 26%— * 

37* 31% EdbBr 100 44 14 393 Mto 35* 36% + % 

18* 13 EDO , JB 10 12 95 >6 — — 

Mto 19* Edward 00 IS 16 1851 32 


tee .1 IB 869 


24* 19* EPGdPf L35 9J 
29* 25* EPGPf 3X5 12.9 
29* 24* EPGar 
19 9* EITora 

6* 7% ElecAS 

28* 15 EWWI 
17% 11% Elgin 
<5 5% EKclnl 

78% 59 EmrtEI 200 U 13 


08 

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32 39* 38% 28* + to 
~ lfto 18% 18* + * 
19 4% 4* 4* — * 
38 2Sto 24% 24% — * 
11 14* 14% 14% ♦ % 
115 7 6* 6* 

764 72% 71* 71*— * 


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28* IV FrpoMk 00 
32% 25 Fftfrfpt 200 
36* 2* Fuqua M 


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2196 19% 18* 19* + * 

303 39* 38% 38*— * 
SO 37to 33* 32* — * 

6 13* 13 13 

632 27* 26to 27* +1* 

161 28% 27* 27% + % 

7 43* 43* 43*— * 

522 2Bto 27* 28* + * 

43 14% 14 14% 

202 4* 3* 3*— to 
121 17% 17% 17% — * 

2399 17* 17% 17V, — U 

„ 283 54% 53* 54 — % 

313426 45to 44* 44* + % 

78 12% 12* 12* + * 

589 74* 74 74 — to 

334 13* 13V. 13% 

47 10% 10 Iff — to 

a 37% 27% 27% — to 

J7S 26* 26* 26* + * 

710 22 21% 21*— n 

IM 9* 9* 9% + * 

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60 72 M 24 27V. 36% 36K— to 


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2JQ <1 12 
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4 s 2 2S*S£g5 + w 

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1J0 


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2AB IDA 


37% 25 % gat x 

34* 17* GCA 
77* 48* GE1CO 
■* 4 GEO 

12% 5to GF Cp 
44% Mto GTE 
34 19* GTE at 

9 4% Go I How 

67* 38% Gannett 108 
»to Uto Gopfnc JO 
ISYi 10* Goortrt 00 
13%G*lcn J4 
12% 9* Gem (1C 
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lfto 14% GAInv I03e *0 
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20% GOlPff 06 10 
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gtomkGmiW J5 


20 22 
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400 11* 10* 11* + * 

204 21 20% 20% + to 

341 IT* II* 11% + * 
164 12 11* II* 

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1J0 IJ 9 1527 74* 74 74% + * 

2JQ 35 12 9002 62% 62% 62* + % 
2SD 35 11 S60O 72% 70* 72 +1* 

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10* 73 20 23 22 23 — to 

1.10 36 IS 822 32% 32* 32% + to 

3J 24 9449 23* 22% 22* 



fio !<50! 6°' 

ROW- 1 





For our 1V84 Annual Report, write: 

Grow Chemical Europe N.V., Outiestraar S 
B-2630 .Xartsclaar. Belgium. Dept. G 

Grow Group 

Awlgrip, Devoe, Ameritone, throe of our well-known brand I names 



17 Month 
High Let. Stock 


Dlv. YNL PE 


Sts. 


I HUM 


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48% 39* Heralty 100 3J 13 2951 4*6 46* 47to— % 

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1J0 10 M 712 55 54* 54* 

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7* 3* Hprlxon 
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28* 18* Hau lad 264 9A 
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29 17% Koper 2J0 
29% 15% Kalmar J3 
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MM 96% KapprpflOJO 

M 12* Korean 
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MW 37* Grace LOO 60 IT 483 42% 42* 43 — * 

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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


Page 9 


business roundup 


Toshiba Sees Net Rising 
8% to a Record in Year 


Retitm 

TOKYO — Toshiba Corpus 
consolidated net income mil rise 8 
percent to at least a record 93 bil- 
lion yen ($373 milli on) in the fiscal 
year ending March 31, 1986, Yuiri- 
chi Yaraada, vice president, pre- 
dicted at a press conference 
Wednesday. 

Group sales are expected to rise 
12 percent to 3.73 trillion yen and 


-i 


GM, NIK Join 
To Make Parts 

The Associated Pros 

TOKYO — General Motors 
Cotp. will team np with a major 
Japanese spring maker to devel- 
op and produce car suspension 
systems in Japan using a new 
plastic 30 percent lighter than 
sted, officials in Tokyo said 
Wednesday. 

The U.S. automaker and 
NHK Spring Co. readied an 
agreement in March to set np 
toe joint-venture company by 
the end of this year, said Koichi 
Sasaki, an official of NHK 
Springs overseas planning de- 
partment. 

Mr. Sasaki said it would be 
the first time that GM has ever 
teamed up with a Japanese 
company to produce auto parts 
in Japan. NHK will own 55 
percent of the volute but both 
sides will contribute technology 
to the manufacture of the sys- 
tems, which will be built using 
fiber-reinforced plastics, Mr. 
Sasaki said. 


share to at least 32 yen 
from 29.63 Yea in 1985, he said. 

The company earlier reported 
1985 consolidated net income of a 
record 86.1 2 JfflEonyen, up 46 per- 
cent from a year earner, on sales of 
a record 1343 billion yen, up 23.5 
percent. 

Sales in the heavy electrical divi- 
sion are expected to fall 6 percent 
in 1986 because of slow domestic 
and export sales of large industrial 
plants. 

However, home appliance sales 
are expected to rise 19 percent, in- 
ducting refrigerator plant exports 
to Algeria and color television 
plant exports to China, Mr. Ya- 

mwHa taut 

Research and development 
spending wiQ rise to 200 trillion 
yen, 5.4 percent of expected sales, 
m 1986 from 175 buUon or 52 
percent of sales in 1985. he said. 

Capital spending is scheduled to 
rise slightly to 280 billion yen, in- 
cluding liO trillion to 130 bQEon 
yen on semiconductors from 1985's 
270 billion yen, mrindmg 150 bD- 
lion yea on semiconductors. 

Sales in the electronic compo- 
nent and industrial electronics divi- 
sion rose 27 percent to 1.151 trO- 
houyen in 1985 from 907.02 billion 
yen a year earlier. Exports rose 38 
percent and domestic sales 20 per- 
cent, Mr. Yamada said 
Office automation equipment 
sales rose 38 percent, other office 
labor-saving equipment sales 
gained 35 percent and semiconduc- 
tor sales rose 45 percent. 

Home appliance sales rose 13 
percent, including a 38-percent rise 
in exports and a 7-percent increase 
in domestic sales. 


Wang Sees 4 th-Period Operating Loss, 
Plans to Cut Work Force by' About 5 % 

Rouen 

LOWELL, Massachusetts — Wang Laboratories Inc, the UJS. 
computer company, said Wednesday it expects a fourth-quarter 
operating bus and a year-end adjustment in inventory values. The 
company also said it plans to art its work force by about 5 percent. 

Wang said the cuts in its labor force will start immediately. The 
company added that it has “delayed salary and wage increases fey six 
months, and taken other actions to reduce operating costs.” 

As previously reported Wang reported profit of S124.4 million for 
the nine months ended March 31, down from 5136.4 mflficm a year 
before. It had fiscal 1984 profit of 5210.2 million, including a gam o( 
S4I.7 million on offshore manufacturing exemptions. 

But the company said it expects to show a profit for aQ of fiscal 
1985 despite the expected fourth-quarter loss. 

For the third fiscal quarter, Wang reported net income of 517 
nriDion. on revenue of $$52.7 million. 

In a statement explaining the projected loss, Wang said that 
“because prdhnmary April and May results reflected lower than 
anticipated savings from programs to reduce expense growth, the 
company is not expected to be profitable from operations in its fourth 
quarter.” 

In addition, it said, “the lower than expected kvds of business have 
resulted in accumulations of inventories which will require valuation 
adjustments at year-end.* 1 


Reed Intenrational Profit 
Rose 11.5% in Fiscal 1985 


Reuters 

LONDON — Reed Internation- 
al PLC said Wednesday that pretax 
profit in fiscal 1985 rose 11J per- 


percent of trading profit, although 
this sector accounted for jnst 21 
percent of capital employed. 

Reed said that its Cahners pub- 


cent to £107_5 mfllion ($136.5 mil- iishing business in the Unite! 
bon) from £96.4 million last year, states had been particularly suc- 


cessful Substantial investment also 
was reported in electronic data- 
base publishing. 

The Consumer Publishing divi- 
sion, mainly ma gazines books and 
advertising, was affected by sharp- 

■ ^ ^ g 


Reed said that improved perfor- 
mance in iu VS. p ublishing con- 
cerns mud? up for the decline in 
domestic profit. Weakness of the 
British pound contributed £7 mil- 
lion to an £18-milEon increase in 
overseas profit, Reed said. , . 

Reed, a holding company with strike by jonnSSS 
publishing decorating, newsprint 
and other paper-related interests in 
Europe and North America, said 
that revenue was £2.12 hill ion, up 
3.9 percent from £2.04 billion for 
fiscal 1984. Exceptional costs for 
restructuring of operations 
amounted to B mflKm^ half the 
previous year. 


British paper mills had a loss of 
£3 million in the first nine months 
of the year, but returned a profit in 
the last quarter. 

In April, Reed said it was selling 
its Crown and Sumvortby wallco- 
vering operations to Borden Inc 

And Rent has said it is seeking 


The company said that its Reed buyers for the companies in its 
Publishing division gffty a frd 45 building products group. 


UJL Government Is Said to Approve 
Plans for BL-Honda Cooperation 

Apence France- Prase 

LONDON — The British government has approved a five-year, 
£l.55-b£Qion (SI. 97-billion) investment program for BL PLC that 
would lead to increased cooperation between it and Honda Motor 
Co., The Financial Times said Wednesday. 

The plan provides for BL*s Austin- Rover division to begin assem- 
bling Honda cars next year at Longbridge, near Birmingham. The 
Japanese company plans to market those cars in the European 
Community. 

[Britain's secretary for Trade and Industry, Norman Tebbit, told 
Parliament on Wednesday that Honda and BL had made important 
proposals for collaborative projects, but be declined to give any 
details. He said that the government would later announce its corpo- 
rate plan for BL, Reuters reported from London.] 

Under the plan, Austin-Rover and Honda also are to jointly 
produce a medium-sized ear called the YY. And Austin-Rover is to 
produce a small car with a Honda gearbox and an engine to be made 
in Britain by Honda, which is building a plant at Swindon. 

The government was said to have been influenced by two factors: 
that adoption of a Honda engine would cut £250 mill in n from the 
plan's costs, and that cooperation with Honda would be desirable 
from the standpoint of BL's short- term profitability ahead of the 
claimed sale of the slate-owned automaker. 

BL is 99-percem owned by the British government, with the 
remainder held by private shareholders. The company has declared its 
intention to return all subsidiaries to private-rector ownership. 


-ADVERTISEMENT 


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Quotations Supplied by Funds Listed 
5 June IMS 


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American Telephone A Tele- 
graph Ox said that it has agreed to 
pay S55 million for Communica- 
tions Satellite Coro.’s 50-percent 
interest in three Ui£ Earth stations 
used for international satellite 
communications. 

Carter Hawley Hale Stores Ipc_, 
a Los Angeles-based retailer, said it 
plans to spend about 5650 miflinn 
during the next five years on a 
program that will involve the open- 
ing next year of 37 new stores in the 
United St at es and a nugor modem- 
riation of existing stores. 

CMyoda Chemical Engineering & 
CaastradMB Co. is leading a grmp 
of Japanese companies that Thai 
Oil Refinery Co. said had made the 


lowest offer, 5180 million, to ex- 
pand a refinery. 

Daimler-Benz AG's planned 
takeover of Dornier GmbH, West 
Germany's second-largest aero- 
space company, has been approved 
by die Federal Cartel Office, a 
spokesman for the office said. 
Daimler is mlHng a 65 3- percent 
stake in Dornier. 

Pan-Electric imhstries fid- said 
that it has withdrawn from an 
agrpunmt to argnire Singapore's 
Addphi Hotel from Addphi De- 
velopment Pte. for 77 mfluon Sin- 
gapore dollars (534.8 million). 

Uoloo Carbide Corp. and Iwa- 
tam ft Ca of Osaka have agreed to 


establish an industrial psffs joint 
venture in Japan. The U.S.-based 
chemical company «iri that it 
would take a maximum 25-percent 
ownership in Iwatani Industrial 
Gases and provide it with applica- 
tions, distribution and production 
technology. 

Unocal Corp. has sued four in- 
surance companies for allegedly 
canceling 5KX) million in liability 
insurance policies on its directors 
the day after T. Boone Pickens dis- 
closed his 7.9-percent interest in 
the Los Angeles-based cfl compa- 
ny. Unocal alleged that the compa- 
nies intended to caned the cover- 
age at the first sign of a hostile 
takeover attempt. 


Regrouping Assets to Reuse New Funds 


(Continued from Page 7) 
investment bankers are plucking 
out specific assets as the coDaleral 
and source of income to support 
the issuance of new securities. 

“In many cases, the asset is of a 
higher qnanty than the credit of the 
underlying issuer,” said Daniel 
Kearney, a manag in g director of 
Salomon Brothers Inc. 

The p acfcigpx either take the 
form of debt securities, in which a 
fixed amount (tf interea and princi- 
pal is returned to investors, or of 
equity-type investments, whose re- 
turn is based on a fluctuating 
amount of menme from the under- 
lying asset 

Lower-cost financing usually is 
available when specific assets beck 
up a security. In the case of Sperry, 
tire tease-backed agreement was ac- 
complished at a cost of less than 
half a percentage point over a com- 
parable Treasury issue, whereas the 
cost of capital for a standard fi- 
nancing “would have been consid- 
erably more expensive,” said An- 
thony V. Dnb, a managing director 
of First Boston Corp. who heads a 
newly created 25-member asset fi- 
nancing group. 

Part of tire reason why asset- 
financing is less expensive is that 


private insurance or bank letters of when the company that issues the 
credit are used to insure or guaran- securities may be liable for a por- 
tee the first 10 percent to 20 percent tion of any losses on the rcceiv- 
of the asset pod that might go into ables. Also, assets sold might be 
defaulL As a result, Moody’s hives- replaced with assets, such asm vest- 


tors Service and Standard ft Poor’s 
Corp- have been blessing the asset- 
backed securities with the highest 
credit ratings. 

Thus far, the market for these 
securities has been mostly large in- 
vestors. The size of the securities 
offered range from 510 per unit to 

51.000 per bond to as much as 

525.000 and more for sane of the 
packages. 

Despite the excitement on Wall 
Street and in the corporate commu- 
nity, there are limits to how fast the 
securitization of assets will grow. 

“There is not a lot of history to 
bow these instruments perform in 
different types of markets,” said 
John Zacamy, the managin g direc- 
tor of Morgan Stanley ft Co. who is 
in charge of his company's new 
Securitized Products Group. “We 
are approaching this cautiously.” 

In addition, banking and ac- 
counting supervisors are focusing 
on the impact of the removal of 
some assets from the balance sheet 
once they are securitized. They are 
concernnl, say investment bankers. 


meets, that involve more risk or 
lower returns. 

“The expansion will be a bit 
slower than most people think be- 
cause each one of these deals is very 
co m plicated," Mr. Dnb said. 

Nonetheless, Mr. Dub predicts 
that his companywill raise between 
$1 billion and 52 billion in asset- 
backed agreements this year. 

Companies and banks are also 
eager to securitize assets because 
they can eliminate their exposure to 
volatile interest rates by using the 
proceeds of the securities sate to 
pay down existing debL 

Companies sometimes get an- 
other benefit, too. Analysts, for in- 
stance, credited UAL’s announce- 
ment of its hotel partnership with 
helping to raise its stock price 


NOTICE OF ANNUAL GENERAL MEETING 

FIDELITY 
FAR EAST FUND 

Societe dTnvestteement d Capital Variable 
37 rue Notre-Dame, Luxembourg 
R. C. Luxembourg: B 16926 


Notice is hereby given that the Annual General 
Meeting of the Shareholders of FIDELITY FAR 
l^AST FUND, a soci&& (Tmvestisscinent k capita) 
variable, organized under the laws of ibe Grand 
Duchy of Luxembourg (the “FuntD. will be held 
31 the principal anri n- grW^ pH f>ffir^ r»fth#» Pi nvl 
37 rue NonoDame, Luxembourg, at U.00 ajn. oo 
June 25. 1985, specifically; bui without hmimtion, 
for the following purposes: 

L Presentation of the Report of the Board of 
Directors. 

2. Presentation of the Report of the Statutory 
Auditor: 

3. Approval of the Balance Sheet at February 
28, 1985 and Income Statement Ira- the fiscal 
year ended February 28, 1985. 

A Discharge of Board of Directors and ihe 
Statutory Audi toe 

5. Election of eighi (8) Directors, specifically the 
rs-etection of aD present Directors, Messrs. 
Edward C. Johnson 3d, William L Byrnes, 
Charles A. Fraser, Hrsuhi KnnAawa, John M. 
S-Paaon. Harry G. A. Scgger ma n, James £. 
Tooner and Rnimtrusi. 


6. Election of the Statutory Auditor, specifically 
die re-election of ihe present Statutory Auditor, 
Maurice J.SargenL 

1 Declaration of a cash dividend to the 

Shareholders, and authorization of the Board 
of Directors to declare Further dividends in 
respect of fiscal year 1985 if necessary io enable 
the Fund to qualify for “distributor” s tat us 
under United Kingdom tax law. 

8. Consideration of such other business as may 
pr operly come before ihe meeting. 

Approval of the above items on the Agenda will 
require the affirmative vole of a majority of the 
shares present or represented at the Meeting, with 
no minimum number of shares required u> be 
present or represented at the Meeting in order io 
establish a quorum. Subject to the limitations 
imposed by law and the Articles of Organization 
of ibe Fuad, each share is entitled to one vote. A 
shareholder may act at any meeting by proxy 

Dated: 

May 24, 1985 

By onkr of the Board of DKiecCon 


HDELITY BkR EAST FUND h an lim min N Compaay with the objective of seeking long tana capkal 
growth from a ilvenffied portfolo of predomtamfy Japwese compnks. hnestmenl wfll abo be mark 
fa c o T —fci located e b ewfco e in the BttficBarin. At May 15, 1985 tbeFnmTsaseeti were inverted in 
lapan 83%, Hong Kowg6%, Amtnfia 3X,1Und 1 S% aod crofc and mbcdfarmND 63%. The Fimd 
w hnmhed fa Nmcmlier 1979 at SIB (adjroled far stock spit on fafy 19, B84). Sta* tench the oOer price 
of dares ha* rises fay 111% to S2U5. The Faad b now vafaed at SE3ML 

Copies oi fteOgerfagQwrfn-amilfaeet Q i — t uly Report cjn be obtained fawn Fldcfify In ma t faaal ate 

BO. Box 670, Pem broke Hall, 9 Bond Street, 

EaaBroodway, Pembroke, Sl Heher, 

Hamilton, Bermuda Jersey, GJ. 

TO: (809) 295 0665 Tel: (05341 71696 

Tdex: 0280 3318 Tblex: 4192260 


Defense Stocks Stir Debate 


(Contmoed from Page 7) 

rebound looks more risky to bet on. 
It's less certain than in recent 
years.” 

Yet Mr. Campbell leans towards 
the positive side, projecting anoth- 
er one to three yeara of strong earn- 
ings for the stocks, and sees little 
“downside risk” because of the 
mergers and share-repurchase pro- 
grams. 

Edmond Greenslet, aerospace 
analyst for Merrill Lynch, sees a 
war of attrition ahead Cm the de- 
fense stocks, as they get slogged 
down in a “noticeable slowing of 
backlogs, then sales and earnings.” 

Nevertheless, he believes the is-, 
sues are better buys now than earli- 
er in the year. The reason: As pro- 
jected earnings of other stock 
market sectors have been shaved 
back in the declining economy, the 
relative valuations of these reces- 
sion-proof issues have risen. 

“But as we go forward from 
here," he said, “a considerable 
number of the best-known stocks 
might prove poor performers com- 
pared to the rest of the stock mar- 
ket-" He thinks investors will have 
to become voy selective and pick 
companies that will continue to 
grow despite the fiat defense bud- 
gets on the horizon. 


“Missiles and munitions, includ- 
ing so-called smart weapons," be 
said, appear to be the burgeoning 
areas, “along with space, electron- 
ics and communications, especially 
command control.” 

Mr. Greenslet said Martin-Mari- 
etta “stands out” as an investment, 
as do Northrop and McDonnell 
Douglas. 

E.F. Hutton’s Hans Plickert, 
aerospace analyst, and Peter Aseri- 
tis, who follows ntilitaiy electronics 
stocks for the firm, are not much 
stirred up by the defense group, 
even as takeover candidates. Lock- 
heed and Unitrode earn their re- 
served favor, followed by Loral and 
Sandeas Associates. 




These securities were offered and sold outside the United States. 
This announcement appears as a matter of record only. 



Gold Options (ptattas/M.). 



** 

Mm 

F* 

so 

17JWWD 



330 

112*1275 

30253125 



no 

77*925 

15BW7SJ 

322*375 

30 

*75- 425 

1125-025 

uvunm 

230 

335 *75 

850-1003 

Its 1425 

HO 

135-325 

4» 725 

1133-1300 

30 

— 

*50 603 

8754025 


Gc*i 3HOT.3J45) 

iVakanWUteWeM&A. 

llQtete Mri W— e 
1 1211 Genera 1. Softtertaari 
(TcL 310251 - Tdex 2B9K 



Kingdom of Sweden 

US. $750,000,000 
Floating Rate Notes due 2000 

In accordance with the provisions of the Notes, notice is 
hereby given that for the six months interest period from 
5th June. 1985 to 5th December, 1985 the Notes will 
cany an Interest Rale ofl l Vts% per annum. 

Interest payable on 5th December. 1985 will amount to 
U.S. 5403.49 per US. 510,000 Note. 

Morgan Guaranty Trust Company of New York 

London . 

Agent Bank 


LIBRA BANK PLC 

U.S. $100, 000, 000 


Subordinated Floating Rate Notes due 1995 


Issue Price 100% 


BANQUE PARIBAS CAPITAL MARKETS ARABIAN GENERAL INVESTMENT CORPORA TION 


MERRILL LYNCH CAPITAL MARKETS 


NOMURA INTERNATIONAL LIMITED 


ORION ROYAL BANK LIMITED 


CHASE MANHATTAN CAPITAL MARKETS GROUP 



CIBC LIMITED 
DAIWA EUROPE LIMITED 
MANUFACTURERS HANOVER LIMITED 
PAIN EWEBBER INTERNATIONAL 
PK CHRISTIANIA BANK (UK) LIMITED 
SWISS BANK CORPORATION INTERNATIONAL LIMITED 
WESTPAC BANKING CORPORATION 
YASUDA TRUST EUROPE LIMITED 












INTERNATIONAL HERALD TUminNE. THURSDAY, JTJWE 6, 1985 



Wednesday 

\M 

Closing 

Tables include the notionsrtde prkss 
up to the closing on Wall Street 
and do not reflect late trades elsewhere. 


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(Continued from Page 8) 

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Flue gas analyzers 
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BBBI Division are one 
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Write for latest reports to. 

AMETEK 

JfoPork Avenue, 21st Floor, 

New York. NY 10022. 


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Peru, Mexico Seek 
s| Higher Silver Price 


Umied Pres* International 
UMA — Pern and Mexico, the two largest 


Peru has an- 


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Take advantage of our special rates for new subscribers and 
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TSt S* 'SL i IJ “ Is* S ®-* to boost the metal’s lagging puce, President Uphowup 
P IS* B«B S ij A |g fS ^ + „ Fernando Bdaunde Teny ol 

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KMde ISdar 
UttvEII 
LomNMtas 
Lsutsv GE 
MorVWd 
McDonalds > 
Metvilte 


lver and invigmate our 


li as 3 ™ 37 ft 37 37 * respective national economies, 
ij l 74 ? i* S!=ift Mr. Bdaunde said one of the measures will be 
- * — * m the i«uing of silver certificate notes to Peruvi- 

.Themuvian 1 


f 1006 33ft 32* 32*— ft 

Mm 84 ft vSSB 2 X? u ’f w ^ to ans. ine reravian congress iasi wees appiweu 

M 6 lift tIxogs jb 1.1 10 4 ™ im im 1 « + * the measure although a minimum value for the 
^ K£^£^ + * notes has not been set 

^ as 4 * m m + ft Pm i nicn mil mint silver commemorative 


35 13 

” 99 
23 


5 2 Tcrflln 

SZ* 26* Tmdron 1 X| 

37ft 20ft Toxtr Bt 2X8 
TO* 5* ThOCk_ 

43ft SmS ThmB ta 1 ^ J4 14 
lfift 12* TTwmln. Mb « 9 

26* 13ft TtawM od 40 M ' 
22* 14ft TllrtftV X0 
26* 16* TWWtr X0 
10* 5* Tloorln 
57* 33ft Tjirw lXO 
103 40* Tim 1 a« 1X7 

2]ft 12 TlmpU 


™ 5 ?S sot! sm- * Peru also will mint silver commemorative 
a Bft as* swj— ft coins, Mr. Belaimde said. 

3,1 v* 23* a«5 + * Meanwhile, the government's National Sta- 
» ristics Institute said first quarter mineral pro- 

S 14 1 »S 2 m 2 $ 21 * + ft duction rose 8 5 percent and dl production 
u "* 


186 17ft lift 17* + ft 
Km 7V. 4ft 4ft— ft 
17 17 3018 ,gto,jK i?to 

IJ 4 103 101 103 +7 

15 98 W* 1? ” ’ 


went up 3.6 percenL 

The report attributed the improvement to 
increased Hwnand for iron, fewer labor strikes 
Oft Mv. ThSSfi IJ* U |6 9 S 2 S S*i +* and a slight rise in prices for industrial metals. 
58 ft 47 ft Timken lA^i* 14 57 a 49 * * Strike s in the first quarter caused a loss of 

261,400 man-hours, 79 .S percent less than lost 
work time a year earlier, the institute said. 


I 


SpsXMabByfeft 

FYcwm* VwmJuced wbsnfinnpim *te»i Fy ne» ■tartama* 




1 vear 

6n*L 

3 mess. 

Austro 

ASch. 

4.020 

?.170 

1,196 

Bekjum 

Bfr. 

9X120 

•W6 

2fA 


DJ5r. 

1.930 

ljXO 

SO 


FM 

1A10 

760 

414 


Ff. 

IJOO 

644 

359 


DM 

482 

2A1 

144 


£. 

101 

55 

30 


Dr. 

15X00 

BA64 

4592 


H 

550 

298 

166 

kehnj 

LK 

ns 

62 

34 


Lie 



LFr 

van 

4874 



NKt 

JXZ 

765 

423 


Esc 

13^00 

7.450 

4590 


Rta 

21^00 

11530 

6300 


S*r 

1.470 

795 

434 

Swieertrrd 

Sfr 

432 

232 

129 


Ta Subsciptfion Manager, Intemcrtkind Herdd^ Trtowie, 1 81 overajeCharie&rieOcwtte, 
92521 Neuilly Cedex, France. TeL747 07 29. Telex: 612832. 

Plecseertermysubscri^onfar^ n6irojhs DJ 

{+lmonlhW| {+ 2 w«Bksftw} {+lw«kM 

□ Mychedcisendosed 

Please cfxigB my: □ teas □ Amman Express □ DimmO* 

□ Euroaxd □ Mooterocni □ Visa 


| ^Currenc^^ptions 

■ 


NIMIOWPt 
NOSPW7P* 
Oil Ed 734pf 
Oh Ed 1048Pt 
PPG 

PocHiCorp 

PapMCa 

PhEll28Pt 

PIMmrv 

PortG432pf 

PSvCoi B4af 

QtukarOat*- 

RTECorp 

RdtbtGP 

SFsSouPae 

Scott Paper 

SouttiernCa 

SiTnmtGas 

Start Drug 

ThennoEl 

Trlangl ind 

UnEl 744pt 

US5hoe 

vnataurSec 

waiter Jim 

Wei Is Far Co 

Wootwortti 


Amtegoo 
DataGeni 
Genlnst 
LTV Carp 
ParkEl % 


Aml-^ 

AitwrWto 

JSB5 

AutaDato 

Bordens 
aklvnUGsPt 
CRI IMI a 
CitaPocwf. 
Colon p*a 

Cert-te«d 

CtaG93M 

Ctttcorp 

CwB 287W 

CenEd465pf 

ContTelcm 

DartnPwU 

Del Edtsan 

DetE340pfO 

Donetov 

duPnt450pf 

DukgPpfM 

EauirarkCp 

FdPo231pt 

GrtcnCp 

GenMot5Pf 

GaPw234pt 

GtendateFdl 

GttSU 440Pf 

Hanjhn Sec 
HUticreUSA 
HerltcnrCm • 
Hauwtntl 
Humana 
liOoapSec 
Iowa Rum 
KelloaaCa 
KUnKiarti 
Limned 
LomnMia wt 
Lucky Str 
MortNtor 
McKesson pf 
Merck Co 
Met Ed pt I 
NWA Inc 
NevPlOOPl 
NlMd 775pt 


OhEd 920Pf 
OtaPw227pr 
PSA Inc 
PaPL290pr 

pnnaEiTpr 

phQ 171 apt 
Pitney Bow 
PutEI 484pf 

PSInd944pt 

RCA 

RolstnPur 
RutabermoW 
Sara Lee 
SeaCntLJdPt 
SoRvaOaf 

swsmeii 


TavsRUss 
Union Etec 
Unit Brands 
USWest 
Viacom 
WashGasS 
WBtAlriwt 
WootwthPt 


AetnaLte 
AtoPKBW 
ALLTEL Cp 
Am Farad IV s 
AmertcUn, 
ApPw740ut 
AssdDGds 
AVEMCO 
BornetBk* 
BellHowgil 
BrtUaum 
Black HR 
Boston Ed 
BkhmUG ptA 
Cat Fed 
CaroPlr 
CenLaEtec 
ChOlO CV469 ' 
anG 744pt 
OaroxCo 
CwE 724pf 
CnPw4pr 
Cooprvsn 
DecerFoods 
DetE 932pf 
DelE 342pfM 
Drewjl BdF 
DvkePafAA 
DuqLI 72IM 

Earn k 231 Pt 

FstBastan 
Gen Food 
GaPwadlfN 
GaPw275pf 
GrtAmFsi 
GHSU385PT 
HonJtm Inv 
Hecks inc 
HertlCompf 
Haulm 237 
lndM776pf 
IntFlav Fr 
JWTGos 
KetlumadCa 
Knight RM 
UncPtac Fd 

LoneSilnpt 

ManarCras 

MOVDSIS 
Mellon Bk 
iMeredilti 
MereenJPs 
Nat Distill 

Mewnallnv 

NarStaPw 

Occl 3A0PT 
OltEd 350pf 
Ok la GE 
PacGE 
PaPLMDpr 

PtlEI 875pf 

PHEI7S0pt 

PortGen El 

PrtmeMots 

PSEG480Pf 

RCACV4RI 

Reich Own 

SPSTech 

SavonEP el 

Sears Roeta 

Southland 

StPocCorps 

SymsCp 

Tranem Inc 

UnEl2l3taf 

UCablTV 
U5LIFE Inc 
VdEP97Sgf 
WanhWalP 
WnAIrZnf 


Ahmon H F 
AlaskaAIr 
ALLTELPf 
Am Kama 
AnirauierB 
ArizPS odi p 
ASS dDGpt 
BailCo 
BeafCo . 
(MIHwtptA 
Benoti Cp 
B atse Cased 
BrtstMvers 
BmngFer 
Cal Fed of 
CascdeNGs 
CenMePw _ 

Chase Manh 

CtaG9S2Pl 

Col SO MW 

CamawIttaEnav 

CnPwTSOpr 

CorneGts 

DetlaAlrt 

DetE74Spl 

DelE 4pr 

Dreyfus 

DukgPpfG 

EGGinc 

Ethyls 

FSIWlK 

Gen Hurt 3 

GaPw344ot 

GaPwTtQpf 

Greyhound 
GIISU44Dpr 
Har court 
HHUflMyr. 


JO 


Hows I nt 250 

lndJM343Pf 

I nt Mult ltd 

Jamesway 

Klddelnc, 

LearSlegtar 

Litton Ind 

LILCopIE 

Marriott 

MaVhW 

MefteaVOa 

MetE8l2pf 

Munslngs 

NatMMEn 

NIM4SSDI 

N5Pw410Pt 

OccIPpfJ 

OhEd ynor 

PHH Grp 

PocHTei 

PaPLBTOpr 

PhEITBSpI 

Pier 1 1nc 

PortG440pf 

PSvCal 715a 

PSEG770PI 

RCASlScvpt 

RochGasE 

Son Die Gas 

Scharg Pish 

SoeawBks 

S wit Air 1 
StanteYWks 
Tennc74apr 
TroGPL844p 
UnEl 272pt 
UnJersv Bk 
UttlCO 2tlP 
WICOR 
WcMteMOt 
WnAIr 214pf 


A 


HEW LOWS 19 


Baker Ind 

DtamShni 

GtotaMar 

LTVCPPtA 

WyteLabs 


CamppbRsco Camatesn 
GCACr GatvilHou 

GtahMgrpf Katy Ind 
NtosaPiri Paradyne 

Zapata Cp 



Cordexptydate. 
Qrdaaoourt 
number i — | — 


.SgMAire. 


PHILADELPHIA EXCHANGE 

nxw BrttHta PoepdS4*nta per unit. p 
BPmmd i2jfl 1170 r 

li 250 6.18 775 

I# ixo w r 

SUM Conodta^ooOarsieaK per aalt. ■ 

rttallr TO r f t r om 

72 r * r 

n (UB r r 

74 - r 0 30 

g^jdartG^an Mgrttwwm 


Puts— Last 


■unit. 


flIK 

r 

0.10 

065 

3X5 


0X3 


077 

r 


□Mark 


None. 


Bed d Bacpe. ffarthAfKafomat Ftera#! 

AW^USA^FrenchPc*«rta»M*ifcEail 

1 $1 322 

tootAinmijfi^lxanAmaTOiW 

I Sl_4fiL 


174 


95 


238 


130 


2X7 

1X7 

073 

023 

0X5 


3X0 

130 

1X1 

1X7 

074 

0X7 

& 


2X0 

1X3 

1.20 

o« 

I 


r 

0X2 

on 

0X9 


3X2 


040 

1J5B 

S3 

135 


0.19 

r 

05B 

090 


U1 

0X2 

078 

1X6 


5.10 


0X0 


0X9 

r 



Address. 


,25XM Fiwrt FJviKtelWIwa+a cm, per unit. 
*■ YwhlMlhso* ■ cow Per oM. 


4X54X09 J 
jYen 


Cty. 


.Country. 


2 oil l.W *2 

fl Mi U W 

43 ODI 0J2 073 

'-pentaD- 


0X1 

016 


023 


Td 

VACATION VCfRUCilONS 
lvdbetrawfingfrcm 


.Teh, 


□ I 


MMeq. 

6 - 6-85 


170 

r 

1X5 



a te States FroBCVcent* 

sFrone 35 ^ 


0.16 0^5 

SFrone » 

2 1X0 uu 

2 0X7 m 

IM&ik ** ™ ‘»SBttWi| 

uf Is premium {gurtnose pr«*». 

Source? AR 


(ML^MONEV 
INIHE 

FK 1 rnfcis. 

LONDO^(XTOBE^ 

Cffl Daily Conference on ^03 and Money in the 
Eightifis” will take place on CX:tober 24 and Sin London. 
Tbfithemeofthisyear*sconferen(Kis‘^unnvingma 

Competitive Environment”. The jHogram deemed for all 
ft rtfir p trpivte myl^TitPgTo g; en GTgy situation and assess 

Telephone: (33-1) 747-13^5, Ext 4568. Telex: 613595. 


4 


— I**rff ■ w 


prov.DDvapwinmft73D oiren 









TRIBUNE, THURSDAY, JUNE 6, 1985 


Wednesdays 

AMEX 


ToWes Include ma nottoowkte prices 
dp to the dosing on Wall Street 
mi do not reflect lot# trades ctocwtws* 

Ha The Associated Press 


4 Vi 3ft JntmPd __ 79 an 4 4 

lift 7ft JOlBiAm JO U 13 280 9ft ? 9 — ft 

lift 4ft Jatmind 1 a Aft 4ft 6ft + ft 

7ft 3ft JirwJkft 5 9 aft 4ft 4ft 


37ft 

30 KntHPf ■ 

4J0 123 


210z 341% 

3Sft 

34W + ft 

31% 

U% KaeofcC 



141 

3ft 

2ft 

218- ft 

1516 

U KavCe 

JO 1 A 

M 

40 

141% 

14ft 

141%— 1% 

13ft 

Tift Koyjn 



74 

im 

11*6 

nn + n 

lift 

914 KcarNn 

M X2 

ti 

1 

121% 

urn 

1218 + ft 

20ft 

Mft Kamdn 

JO* 19 

9 

2D 

2 Bft 

191% 

201% + ft 

20 

ion RMdtm 

sax u 


232 

20ft 

1916 

2018 +11% 

«n 

516 KevCo 

J8eX4 


S 

81% 

81% 

8 * . 

17W 

8 KevPM 

JD XI 

14 

477 

91b 

9ft 

9ft— W 

111% 

516 KavCa 


a 

7 

5ft 

Sft 

Sft— 1% 

n% 

7 KevCeuii 


II 

718 

718 

7ft— n 

<n 

2ft KkfcMwt 



809 

41% 

4ft 

4ft + W 

518 

318 KJnorfc 



7 

416 

4ft 

4ft 

516 

3 Kirov 



288 

3 Hi 

3 

3V% 

111 

3ft KitN1l« 


12 

1 

4ft 

4ft 

4ft + W 

3ft 

3 Kiser V 

J2r S 


10 

216 

2ft 

2ft— 1% 

151% 

94% Kiwm 


U 

21 

MV% 

14 

14 

151% 

m kiwi 


16 

140 

131% 

13ft 

131% + ft 

291% 

21 KooarC 

2J2 8J17I 

58 

291% 

29 

29ft— ft 


17ft 12*6 
aft 73 
.7ft SVj 

a«f ,n * 

5* on 

7ft Aft 
lift 4ft 
1 «% 

&&% 

■as. 


PnstlPr JO* U 13 
PuwrT a 

ProlrOi 

Prom. .92 U 9 
Pratt w jet 
ProtR&f M 9 A 
PnrniRs 

PrnRB M U 4 
PresM 14 

Prods M2 7JJ 14 
PnwEl) 204 44 7 
PglpfC 234 11J 
PtrtpfE <37 1X1 
PwitoO 


TBft 10 Qucftsa M 


13ft 13ft 
37ft 2744 + ft 
<ft 4ft 
21 31 - ft 

7ft 7ft + ft 

lift lift 
2Mk 

21ft 21ft + ft 

31 31 

20ft 30ft + ft 
31ft 33ft— ft 
3ft 3ft 


104 30ft 28ft 80*6 +216 




ft 
6ft— ft 

*#4 

3ft 

Sf 

14ft + ft 
4ft 
13ft 
3ft 

2ft + ft 

SUft 

13ft + ft 
Oft— ft 
Ift 


Page II 


A Capital Idea: 
Protect Your Profits 
in Gold. 

Shnrt-iwm fluins In •■quiiies can umvkly 
evajtonite, that is 1 1n- nailin' < if jKi|ieritr 
vWmem>. Bui ihi- value nr^nli] isinhen'iit. 
Anti enduring. Ami I he hiMurinil In-ml 
hits always Invn up. 

This* is why the <hr»wdosi ofiii\Vflei> 
keep i heir capital n instantly ut irking, while 
kicking up hard- won prnfiLs in Kniunnunik 

Legal-tender Krugerrani is are the w« iiitl s 
most widely recognized gold hullmn coins. 
Moreover, tweause they contain previse 
measures ■ 1 . 1 2. i 4. 1 lu.iz ■ ofpurvjS'Id. 
you can he certain they will secure nmr 
gains in somei hingsului. 

Ask your hank nr tanker tmltn- or write 
for vt iur free copy or the " Eun i|*.-an t iuitle 
to Gold and Krugerrands" i»i: 

International Gulii ( ‘orjmnninii. 

Coin Division 

I, rue de la Rulisserie 

CH-I2M4 Geneva. Switzerland I 21 


4ft 

3ft 

221% 

12ft 

3ft 

1ft 

13ft 

716 

9ft 

7V* 

61% 

2ft 

24 

21 

7ft 

4ft 

9ft 

in 

416 

an 

41% 

4 

13ft 

Mft 

9ft 

4ft 

221% 

lift 

7 

ft 

2*n 

19 

Sft 

316 

30ft 

31ft 

12ft 

916 

24 

19*8 

24ft 

14 

i24t% 

141% 

25ft 

m% 

2*6 

ft 

19ft 

121% 

ivn 

12 

45ft 

22n 

ion 

918 

4ft 

zn 

19 

12ft 

36ft 

1916 

17ft 

lift 

374 

2216 

Mft 

4Vfe 

■K 

5 

2ft 

Sft 

3ft 

341% 

21ft 

13*6 

9 


16ft Foblnd M XI 7 
3ft FkJotn 

9Yi FtCnon UUa 0J5 I 
11 FWVmB JO 6.1 11 
2ift Fstcren 7 

lift FtmcfiP «U I 
6ft FMcGE 4 

23ft FTtGE pf 4J0 Md 
Bft FlanEn 

23ft FHRCk JB LB 8 
22ft Flute* L38t S3 10 
6U> Foodrm 10 

716 FBOUM 

4ft FthUIG 19 

TO* FonJCndOJO* 
lift FomtL 39 

ft Fdtonrt 

30ft Fnmb 1-000 IS If 
4ft FnJHIy 

14 Prwei 17 

7ft Frtedm Jfb X6 n 
5 PrWEn 

11 FrMra JD Z7 IS 

13 Prwetai 22 J 20 
9 FmlHd 
4ft PrtAwt .171 2J 
KM PorVIfJi 24 


3 19ft 

219 6 

10 lift 

4 13ft 

6 21ft 

5 IN 
23 Bft 
10 23 
15 9ft 
36 4016 
41 M% 
21 10ft 

2 Oft 
31 0ft 
THUMB 
516 28ft 
45 1ft 

7 34ft 
14 4ft 
74 20ft 

1 7ft 
467 1016 

S 18ft 
M 3416 
M 14ft 


19ft 19ft + 16 
5ft 5ft + * 
lift lift 
13ft 13ft 
21Mi Zlft— 16 
tZM 12ft 
8ft 8ft + ft 
24ft 25 + ft 

*46 9ft + ft 
40 40 —ft 

25ft 26ft + ft 
10M 10M + ft 
Bft Bft 
7ft >ft + ft 
99 W0 + ft 
27ft 28ft + ft 
11% Tft 
3414 1416— ft 
6 6ft + 16 
20ft 20ft 
7ft 7ft 
9ft 18 +1 
lift. IN — ft 
24ft 24ft— 16 
14ft 14ft— ft 
<1% ift 
24ft 24ft + ft 


8V> 4ft 
1314 10 
2416 15ft 
4ft 3ft 
m ft 
7ft 




ttr 



86ft 
18ft 
32 
816 
2 Bfc 
20ft 
25 16ft 
Bft 414 
27 I3ft 
4916 38ft 
9ft 7ft 
22 ft 
10ft Bft 
17ft 18ft 
17ft ISft 
T7ft 16ft 
4ft 314 

'ft 

1316 IBM 
6ft 2ft 

St6 2ft 

ft Tf 

13ft 7ft 


13ft + ft 
1ft 
914 
Ift 
7ft 
31% 

1214— ft 
13ft 
1ft 
13 

9ft + ft 
1414 + ft 
4ft 

lift— ft 
22+16 
18ft + 1% 
29ft 

1714 + 16 
616 

13ft 14ft + 16 
17 1716 + 16 

34ft 25ft + ft 
14ft 14ft— ft 
31ft 32ft + ft 
Bft 8ft + ft 
85 8516 + ft 

17ft 17ft 
31ft 31ft— ft 
716 Bft +1 
1816 18ft — ft 
1916 1916— ft 
19 

5ft + ft 
25ft + ft 
<9 +1 

7ft— 16 
14ft 

Mft— 16 
15 

14ft— ft 

v-* 

18ft— ft 

1 ft 

1016- ft 
516— 16 

2ft 

ft 

lift 


JB 184 
SO 106 
9J4 11J 
TJS 11J 
7 JO 11 J 
247 107 
465 111 
268 MU 
2,90 46 10 
JO 13 7 

431104 10 
.15 27 7 
JO 34 7 


17 

15 


Sft 

Mft 

lift 

27 

17ft 

m% 

lift 

lift 

11 

201% 

12 

49ft 

Tin 

4ft 

4ft 

17ft 

1014 

UH 

u 


163 15ft 

'l tk 

284 14ft 
24 19 
33 15ft 

24 1916 

25 lift 
5 14ft 

343 7 

265 1316 

26 2ft 
48 lift 
22 151% 

JMz 36 
231 3*6 

13 8*6 
SO 916 


15ft 

8 + 1% 
12ft + 16 
14ft— ft 
IBft + 1% 
ISM— 1% 
1916+16 
47ft— ft 
5ft 

lift— ft 
14ft + ft 
7 + ft 

1316 + 16 
2 +16 
2ft 

lift— ft 
15ft— 16 
36 — ft 
3ft 

116 + ft 
916 



KRUGERRAND 

Money you can trust. 

Please non- Thar Inn-mari.iul I ioM Ci>n<»niiMiii 
•liws nm |iruvi<!i- a tumug iir selling M-rv ire 


10ft 9ft 
IBft 10ft 
27ft lift 
lift 4ft 
m 2ft 
23ft 14ft 
616 3ft 
116 ft 
14ft 91% 
10ft 4ft 
9 51% 

5ft 2* 
18ft lift 
64ft 531% 
9ft 6Vk 
121 % 8 


VST n JOB U 
VollyRs 1X3 7J 14 
Volaprs 44 16 IS 
Vnrbtm 
Vtffl 

VtAmC JbU 9 

VtRatl 

vemo 

Vemlt J0 26 II 
VlQ[«ch 

VkOT 11 

Vlnto* 

Vlrxn Mr J IS 
Valirft 

VtauUG J0 XI 14 
VopMnc J6 XI 13 


147 1016 

5 1816 
14 2Sft 

369 7Vj 
17 61% 

7 18 
48 3ft 
16 ft 
57 10ft 

1 916 
77 7ft 

2 31% 
24 13ft 

2 6416 

6 9ft 
13 lift 


101% 10ft- 
18 II - 
2Sft 25ft- 
7ft 7ft 
616 6ft ■ 
18 18 - 

* 

10ft 1016 
916 916 ■ 
ift 7ft ■ 
3ft 3ft ■ 
13ft 13ft 
4416 6416- 
9ft 9ft 
lift lift ■ 


17ft 
23 17ft 
184 1516 
80 5ft 
200 1616 
SB ft 
47 10ft 


10ft 616 
14M lift 

18 916 
1116 Bft 
381% Mft 
2ft ft 

381% 14 
41ft 22ft 
44ft 2816 
2316 15 
Wfc 5ft 
191% Bft 
15ft MW 
9ft ift 
17ft 8ft 
5 2ft 
15ft 3ft 
216 ft 
7ft 416 
5 2V% 

15ft 916 
ift 216 
13 61% 

35ft 2516 
1716 Bft 
6ft 216 

19 1216 
ift Tft 
7ft 31% 

181% Ift 
1316 Tft 
43 30ft 
42ft 39 
56 391% 

211% 17 
TO 716 


JM 04J 

11 

JO* M 7 
■VS2 XS 12 
1.52 16 12 
XOi 17 
40 22 14 
J6 47 


9 8ft 
lift lift 
lift 1 6ft 
916 9 
29ft 291% 
1ft IW 
38ft 37ft 
421% <2 
81ft 81ft 
2316 2 2ft 
9ft Ift 
9ft 9ft 
12ft 12ft 
916 9 
17 lift 
316 3ft 


5 5 

2ft 3ft 
13ft 13ft 

3 3 
lift lift 
341% 3418 
ID 9W 
2ft 2ft 
181% Mft 

5ft 3ft 

4 3ft 
1416 15ft 

n Mft 

*3 C1& 

41ft 41ft 
56 54 

18ft lift 
7ft 71% 


9 + ft 

lift 

Mft— 16 
9 V> + tt 
2fV% + Ml 
1W + ft 
37ft . 

42 + ft 
31ft 

2316 + ft 
Wx + 11 % 

*1% + ft 
12ft 

9W— V% 
Uft + ft 
316 

nsiK 

2ft 

13ft— 1% 
3 

lift 

34ft— 16 
10 

2ft + ft 
181% + 1% 
5ft + 1% 
8ft + ft 
1416 + ft 

n 

43 +1 

4118+16 
54 + 1% 

IBft 

7ft— ft 


2416 

2Zft 

16ft OEA 

141* Oakvfd 

JDBb 

U 
a a 

7 

46 

2114 

19*6 

Tin 

1814 

2116 + 16 
18 ft— ft 

a 

4 OdetAn 


33 

15 

6ft 

6ft 

41% 

lift 

ift Odrtss 


a 

7 

10ft 

ion 

ion— 16 

20ft 

I7n OUoind 

M 

XI IS 

5 

1916 

1916 

1916— 1% 

22ft 

718 

10ft CHstani 

3ft OOkMp 

J4 

LI W 

35 

1 

221% 

5 

22ft 

S 

73V»— 16 

5 

7n 

3ft Openbn 

JBo 

3 23 

10 

614 

6ft 

61* + ft 

8 

2 

Sft OrlnlH A 
1 Onnond 

.15 

14m 

21 

14 

51% 

1ft 

Sft 

m 

5ft + n 
in 

2M% 

lift OSuivn* 

<42 

U 16 

19 

23ft 

23ft 

2in + n 

12ft 

6ft OxfrdF 

Att 

16 11 

69 

lift 

nn 

lift 

11 

71% OnrkH 

JO 

20 10 

541 

ion 

91% 

10 + n 





lift 5ft Yankee 13 84 7ft 7 7ft + ft 

5ft 4 Yardny 08 15 14 14 ft M A + h 


10ft Sft Zhmr .18 1J 51 Aft 41% 6V% 


AMEX Highs- Lows 


Jane 5 


8 




m 


-i 


1% T 

ft 21% 
I 2ft 
40ft 
1818 
2916 
2M 
Sft 
lift 
M 
4ft 
2 

17*6 
31% 
10ft 
10ft 



ift 


XT 


9ft 

10*6 418 

13 718 

18ft lift 
21% Tft 
9ft 3W 
2V% 
416 
41% 


17ft un jadm job Xi 9 25 i» im 15% 

7ft 51% Jga*) 4 416 4V% ift + ft 

5V% 3ft JatAnt 4 219 3ft 3ft 3ft + S 

2 WjBfAiat .. 10 **.'■+» 

BW 4KJatn» 15 10 B 7ft 8 


27 14 
I 12*% 
21 1» 

130 12ft 

131 lift 

29 lift 

33 35 
171 33 
747 29 

a 2jn 

471 21W 

34 23ft 
38 2H% 

52 ion 

164 211% 
78 19 
871 19 
58 1818 

5 20ft 
204 191% 

30 20ft 
3* 1W6 
74 22W 

3Mb 39 
Utz 3816 
701b 404% 
225z 46 

6 ft 
217 33ft 

24 ift 
78 91* 

X 31% 
4Mb 91% 

68 raft 
9 39ft 
74 231% 
264 1% 

230 251% 
15 10ft 

iS % 

20 a 

If X 

M 7ft 
84 918 

21 141% 

144 2ft 
44 41% 

IBS 4ft 
32 4ft 
16* Sft 

102 7FU 
125 7ft 

53 17ft 
80 15ft 

1 23ft 
24 418 
334 Bft 


131% 121% + 1% 
121% 121%— 1% 
111% lift + 14 
lift lift + ft 
lift lift + 16 
101% 11—16 
34ft 34ft 

StSS + ft 

33ft 23ft + ft 
20ft 21ft + 1% 
23ft 23ft + ft 
23 33 — ft 

1016 101% + ft 
211% 2118 
Mft 19 + 1% 
181% Mft— 18 
1718 1718— ft 
201% 20ft + 1% 
Mft 19ft + 16 
20ft 20ft + ft 
91% 1ft— ft 
ZIW 2114— 16 
38ft 39 +11% 

37ft 38ft + 16 
40ft 4018— ft 
45 46 — ft 

ft 1% + K 
33ft 331% + Mi 
61% 61% + ft 
9 9 —ft 

Ift 3ft 
9 9—1 

ia ran + ft 
391% 391% + ft 
321% 23 + 16 

ft ft- 1% 
34ft 2516 + 1% 
1016 10ft— ft 
12 13 — ft 

in in— fc 

27ft 38 + ft 

1216 1216 
U 12 

2ft an— t% 

*6 ft— ft 
Tft 7ft + ft 
9 9ft + ft 
14 14ft + 16 
2ft 216— ft 
4 4 + ft 

416 418 + 1% 
4ft 41% 

5ft 516 + ft 
711% 7114 + 16 
7ft 7ft + ft 
1716 171% + ft 
ISft 15ft + ft 
271% 22ft— V% 
4 4M 

81% on + n 




% 


4» 'X*. * - • N S ,C - 



: -‘*S 



Floating Rate Notes 


Jane 5 


Dollar 


in 




is 


5 ESS 






£3# 


■ i n • • 




4—. < 






2303 


M 




22TZ 


■v-r 


fens 

Sn 

» . 1 W 1 


m 


S3- 


m 


Lt4 


SsS 


t^rt 




rS 


rcrtftr* 




w§ 




iJ* : 1 rn 

i&z 




Sft? 

Tt|rx 


Non Dollar 


EE 





























































^ *Pa^e 12 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 • 


« » ss=a n ff*S BB 

nil » ,S ,sa- 3 ISSS - .1 JU J» i-» g 

» - S“« 1 * + » isss;. - ‘j ,!8Si S 
Si5 5S!« -■* ” BK ;* ;S* S 

■*• *■ « » S2 i»' A StfrtM** . 214 SA *5" •&_ «l 


Over-the-Counter 


June 5 


Cornett* 
Com axi 
Comdta 


NASDAQ National Market Prices 


Sam m MM 

IBM HUM, LOW 1PJH.CVM 


ABM Fd 

AOCTI 

AEC J3 

AELs 

AFC 

ASK 

AST 

AT1E 

ATE 

AornRI 

Acad In JO 

ACOPRS 

Accirtn 

AcvRov JO 

pcetos 

AcmcC JOs 
Actvsn 
Act mss 
MocLD 
Adas* 

AdlVW .70 

AdVO J* 

AdxClr 

AdCPt 

AduEn % 

AdvGcn 

ASwSwn 

AdwTel 

Acswirn 

AsrSrtl 

All Bill SO 

AOCvRT I 

AtdAul 
AlrCarg 
Air Aid I» 

AlrWIsc 
All* Be 

AISkMI JS 

AM Pc Jw 

AleaB MO 

Allln 
Aiaoroi 
AJIcoln Jt> 

AtHWT flfi 

Alloa Bv M 

AlmOr s 
AlldBn M 

AIISRsh 
Aline* 

Ally Car 
AlpMIC 
AIpnGP 
Allrncr 

Alios 

Altron 


,4 4% 4 4V. + Mi 

963181k 16ft 18 +1*8 

Jtl 3J 24 ID 10 IB —«• 

935 34 35 +1 

3331 20*. 71 

mi 14Vi 134. MVS + Vk 

148Bl5l« MW 1414- ft 

16910fe ID 1 ’. 10U. — 1% 

i n m 1? , 

2902214 2214 22*k— *k 
JO Z6 99 7T% 7+ 714— VS 

11 Id m A 
850 10 91ft 91 a + 1ft 

JQ .9 17723 223* 221* + 4k 

5 14 16 16 

BV20Y3 T91% 20V. +1+ 

534 3+ 3*h 3M- Jft 
222 73 m 714 7+ + fe 

70 15 1 281ft ZBfe Mfe + 1% 

jSe 8 22214 22+ 22*6 + + 

431 B^k Bfe 810 + 1* 

10 3+ 3»» TV. + Vft 

65 + 

12 3'% 34. 3fe 
163114. 11+ 111ft 

14 6W 4+ 6*4 

600 51ft * r -k 4*% + 3* 

9 2+ 21ft 21ft — Vft 
JO 4.7 41617+ 161* Iftfe + + 

I 10 3214 3314 33V. 

1 51ft SA 5M — A 
30 Sift Sfe 51ft — 'A 
10e 3 179 121. IP* 12+ + A 
534 171* 163k liA + 3* 

3 6' . aw A ‘A 

.25* 1 3 36 lift 16 I6J* + ‘k 

jOe 11 10261ft »fe 261ft 

1^0 2.9 138 35VI 34lft 351ft + V. 

40214. 211* 21 m - + 

77 6M ife 4fe- A 
no j 160 60 40 +3 

8f* J 33122 214* 21 J- 4k 

jQ 2d 312 701* 20 MV. 

S s 1391: 2»fe Wfe 

A* 17 414523 22+ 93 + + 

133 5»« 53* 51ft— '* 

270 34* 3l» 31* 

15114. II*. 11+ 

1S9 6W 4 6V. + Jk 

717 31a 3>S 3+ + + 

342 01* 7 ’ft Bfe 

13911 10 A tfi-a 

11910'* 10 10 — Jft _ — 

all 18 1914*1 14V. Mfe + + ■ 

nu 31 J ! 

178310** 10’i 103*— V* 

354 II'-* 111* 117ft + V" 

100 4A 14 23ift 22W 221ft + 3k 

JO 4\ 82 WU 12 12+ + Vft 

14413'. 13 13 

*17 A*. 7 

003014 38*4 29 — 1. 

10 6 6 4 + 1* 

xtt 38 13716 15V* 15*. 

IJ2 4 3 32301ft 30 301ft + V 

I 01 8*k 0'k 0*6 — Jft 

2325*. 25M 25M — V. 

J8 2J 1912*4 12fe 121ft 

58 1 4 3249 37+ 36** 37 + 3* 

M 3.1 32012*i 12ift 12*. + fe £a[ 

II? 58 25 20*. 20*. 20*4 Co' 

166 18** 111* 18+ Cal 

■20ft 35 35*4 5*. 5*4—1* Cal 

5 8+ 034 034 Cal 

1611 10W IDfe— *6 Co 

4 1'. 1 8+ + Ik Ca 

144 16*. 16W 16*k + 1ft Cal 

16 .9 4 17Jo 17 17 + W Car 

1033 % 1ft Jft- h 

12)8 33 187 32'.! 32** 37** 

15 4'ft I'ft 4lft 

139 1* 1ft M + Vft 

IJQ 421 3426W 25*. 25*4 

67121: 12 121ft + V. 

181 33* 1 A 31ft — V. 

375 'k 6k ?*— Vft 

. lJt 47 74834'A 33Vi 34V. +2U. 

SISSil M30 l«ft .«- *k 

Amefn 195 73 m 7Vi 7% — 

AmshB .72 3 J 44922^% 22Vi 22H + V 

Ampod S 20 12 5 I6lft lAJft 161ft + W 

Anodlto .10 18 24 54k 5** 5*k 

azm "° ■" 243 131ft 13'k 13V. — V. 

130 10U 10 10 

880 121* llli 121* + V* 

713V. 1314 13V. 

16 7U 7W 7V. — V# 

40824 23W 23V. — U 

44 4Vi 4W 41ft — V. 

.12 U 249 94* 9V. 93S— 1* 

31411914 IBVft 10*4— 1ft 
11S2817W 17V* 17V. 

65226*. 26 '4 26*k + Ift 
30 4*t «i* 4**— Vk 

2996 24 23 Vft 24 

5 10** 10*h 10** + H 

227 6 5*k 6 

3320*. 19*4 20W + Vft 

MOO 19 37 271k 26*ft 271ft + Vk 

2.12b 4 A 2 48 48 48 + 1ft 

39 7*4 7V. 7V.— V* 

600 9** 914 »W — ’ft 

3 dlk 6V. 6V. 

.12 1.1 44113* 11V. lift.— V* 

sn i* n 

84 41ft I'k 41ft + W 

llflft 111ft lUft 

S3 73* 7Vk TVk— V4 
M 28 317U. IT 1 * 1714— «. 

8113k 11 1136 + V. 

I 716 716 Tit — 36 


A1IG5LI 252 85 259 301ft 29*4 2Wk— 36 


AtlnFd 

AM Fin 

ATIPrm 

AM Res 

AfSeArs 

AudVM 

Aialron 

AlwdOc 

AulTrT 

AutMed 

AuiaSr 

Auimfx 

AutoCp 

Auxlan 

Avacre 

AvntGr 

AvntDh 

Avatar 

AvIoiSp 

AzfcM 


725 243k 24*6 ! 

53331ft 33** 33Vi + Ik i 

7512 1136 11*6— V* 1 

81 ID3k 101ft 1IM + Vft 

20 Sift 7*6 7*6 + VS 

376 36 W 36 36 

394617*6 17 17*6 + V. 

77624% 24V* 249k + *6 

90 3% 3*6 3% 

1816*. 16*6 16*6 + % 
75 BVa 0 81% + V* 

24 414 4 4V4 + Vl 

14 10 9% 10 +16 

299 8 7*6 7*6 

60 9 B** 9 + ** 

101 6U. 5% 6 — VS 

205 4** 41* 43* + U. 

16 4 8*» 9 + k* 

4366191ft 19 1916— 16 

97183* 1BU. IBVft + 16 

12818Va 18 10% + 1* 

14 4*fc 41* 49k 


501ft 50*4— 'A 
7Vft 7Vft + 1ft ' 
4*6 6*6 

2 Vft 21ft— Vft 
7*4 7*6 

7*k 73*— V* 

36*6 37 
67 67 +2 

8 8 — Vk 

23*. 24 
50 50 

22*4 23 — h. 
18*4 19 
30V. SOW 
i 83* 8*6—16 

.8 OW + 16 
27 27 —1 

,43 43 - <6 

26*. 26*6— V* 
i lOVa 101ft 
ll*k 11*6— Vft 
. 15'. 15V. 

. bw aw — >u 

i i 

28'. 70*. + V* 

. 2'. 2% — ** 

i 9 9 

ft 12*k 12*4 — 1ft 

37*. 38 + W 


safes m Mfet 

10M Mian Law aPM-OTov 

366 79k 73k 7*6 + Jft 

232 43 57 54 Vft 5P* 5«ft + Vk 

■“ “ 5S !* 

“ ,J B’n, “ 

32 21 78 16 15kft life 

sS i§ ®SnaBa 

a7 '\“s A 

120 38 222 333k 33Vk 33*6 
88 S 272416 23*6 24W 

92 M 17W ljlft- W 
*94 161ft 14% M +1 
3? 416 416— Vft 

■38 131ft 13 1316 

60 6*k 61ft »Jft- ** 

iSSlS + Vft 

15 29fc 2W 3Jk 

jk sa ss+vk 

19 4*1 41ft 436 

. 20 S 49S 40S 

r 

IS gOSBzBf 
M “ '*8 St ss s 

m ISvk 4* 4* 

JO 18 36101ft MW P 

‘ 40n 1,9 ’""S ^ 716 

JOe 1.1 1371034 10 Wk- W 

■ 10 " J ''am* 13 - 14 

130 15 523514 34V. 34 Vft — 1ft 

J2 27 17B 41ft 4*6 4Vft 

551 1314 121ft 13 + % 

.94 13 777, 4J MW 

3126*6 251ft 2614 + <6 

jg 1.1 1018 18 18 

365 73* 714 714— ** 

17 life 17% 18)4 

t 4017 141ft 141ft — 1ft 

108 38 Tab S434 5«4 + fe 

496 79S 736 7*1 — 1* 

oaa 3 4? 20 19V. 1914-36 


3116— 1ft 
8 +16 
MU + lk 
201ft 

44—14 
20*4 

8*6 

171ft + fe 
694 + VS 
BW + fe 

41* 

29k + Vft 
39* 

2DVS + 1* 
21 + 1ft 

2*6 + lft 

183* 

2k— ft. 
45 
3 

1136 

I -3* 
IBM +1 
223* + M 
lTVft + Vk 
99k + M 

1516 

11**— Vk 
123* 

■ +16 
39k 
19k 
1216 

48 + fe 

26** +1 
91k + *k 
321%— fe 
16*6 

45U — M 
30V. — 16 
231ft 
131ft 

17 +1* 

29 —2 

11 

139k + <6 
734 + 16 
21ft— M 
12*4— Vk 
. _ 9k 

.10 1.9 21 516 5 5fe + Jk 

j k nt at- \t 

259 51k 436 49k— lk 

Bl«* 10 10 — M 

2 616 <16 <16 

JO 18 21720V- IMS 19M— 16 

4417*4 171ft 17VS— *6 

80a 3J 10211ft 21 Vft 211ft— M 
88 28 I life 18V. 1816 

465211% 3Jfe 211* + M 
90 916 8fe 916+34 
38 13 272816 28 2816 + fe 

320 616 5** 416 + 34 

25 5*6 5*4 5*k 

11219*4 19 191ft 

.12b 13 781216 12 12 


Catnarc 

CredAir 

Comae 

ComBPf 

ComBan 

CumCir 

CmceU 

cm B Cal 

CmdSn 

CmdFd 

CmlShr 

CwHtlB 

CwMhF 

CmwSv 

ComAm 

Comind 

CamSv b 

ComSiw 

cmaCdi 

cntpui 

Compaq 

CmpoT 

CmpCr 

CmprtL 

cmpSvs 

Cam ms 

CCTC 

CmpAs 

CWAul 

CmpDt 

CPtEnt 

CmptH 

Cnwldn 

CmpLR 

Cm pirn 

CmpMot 

QmiPdi 

CmoRs 

CmTika 

Cmputn 

Catcn 

Cmsrve 

Cam*hr 
Corns!* 
Comic h 

CortCPM 

Canltrs 


.12 A 1142*% +£ ImpSb ■* “ 

M 13 rniw i»k 12M- Vk Ertrw 

2-.0 S3 jgr| 

JOT 3.1 215 M J* + H iSSnf 

2m 3* 455** 5H* SJVt 

Trt TO 97V 71 78 E»« 

la* M 127 » » -S |«2L. 


9113 13W IS . +1- Hed«A 

123 Wk 141% 15*6 + Ik KOChaa 
9211*6 1116 life HefenT 

186 514 fl* Sk + fe Hall* _ 


8718 17 17 ' 

12 936 936 9*4 

25823V* 23 23 


MannJF 
HarltFd 

| HlbarCc UKBs 45 


15313*6 1314 131ft + lk Htcfcam 


1« U lS 37 37 -fe f««* 

1» M + w fS£" 

SS AS + % iSi2& Hf B 

500 49 123 WM 10 1016 EjJOIj 

13.168 Z m 3 ™ ™ + * IrtSE* 

134a ma V3T* jj" „ + Eaw 

142 2 19k Z Evn5ut 

33 13 28112814 »* »* 1^?-, 

61 10 9*4 w Encnint 

-** Jwr*jn:*2 p= — 

£ St «- — 

jnr 4Sinft ii 11 —Jft 

255 916 BM 9V* + « 

31 3M 29k 28k 

65S11fe IDfe IN* 

^*6*4 ”<S ^5 

- J S'K'g-s 

tin n 8*4— v* 

12 23 VB 6 *9* 

219 SVft 51% 

20 71ft 71ft 7Vft + Vft 
aS 736 79* 73ft 

1 41ft 41k 4*fc— lk 

7716 ISVft 151ft- fe 
BS <*6 61ft 61ft 
IS 4M 4 4 

77 4 39k 4 

163 916 91ft 91* — 1* 

1913 12M I2M- V* 

<8 216 2V* 2ft 
is 7% nk T£- fe 
IPO 40 1725 S*M 24M+M 


U 936 916 936 HlDlllSu 

119 91% 9*ft 9*ft— |% Honan 
100415*4 14*4 149b— M HoUnO 130 43 
35 49* 41* 456—16 HtTlFFI 

■A 19 234291% 28*6 29M + 9* HnlFAc 

- K «24 2* 24 Hnweff 

aa, 47 8 7*4 7*6— lft HmoSL. 

35. 23 1B34M »fe 34 —3ft Hanlnd .. 

304 101 104 +1 MOOWar 130 43 

5 4 4 4 HrmAtr 

46314*4 15*4 life +36 Hanlnd 
<2 3V. 316 3fe— *k HWHNJ 
5 14 Vft 141% 141ft + lift HwrdB U2a 53 
7 99* 9?k 99ft— % HuiWTe 

I HuntJB 35e 3 

HntvRs 

Hurts B 18* 33 


146 2716 26*4 2716 + fe McCrm -88 23 
8827*4 27fe 27*4 McFad 
53 49k 4*h «- J* m e Fori 

1762616 25VS 2616 + Vft McGritl 
49B*6 3S 2SM + » MKWI ^ 

17Vk 17*k + M Medag 30t 13 
28221% 2216 2216— fe MadccC 
nnKft 10 10 -fe M mega. 35 8 

117420*4 20tk 20Vft + *k ModCrn 
Ml 4fe 41ft + fe MfSgM 
12251% 2436 34*6 + fe MadSip 
,91129k T2M OM-tS 
62193ft 191% 1916 + Hi MadPlS 
340 8*4 8fe SVft— 1ft MesdtB 
4325*4 2516 ^6 +34 OfeOWT 
9021 2B*4 20*4 MontrG 


__ _ tA rxiiM" 

H«3»k 37M 37M^» 

M B SS* - - 
ga 

82 9 §4 *_ to PfewWl 

snail. 23 23 J 4 + Vft pJsov 


1.92 38 !S% ^91% *99ft + S 

.12. 7 ■IJJ2 rt2“. 
’• ,4 M 



62 1 1* JJft Jm— *> SunSL . 

23^ 2» + * g + fe SmRti *8* 

^ 26^ + fe ^ fig IfSlpiJ gSSr^. L20.117 

£,Si ,3*6 1816=14 ESSS &1S 19MW s 2 | Srn. Si! 1^ IS 


iSife *fe+i% 

is k js a- ft 

1-J. ^ Ik 


ii V- «• 

59421% 41 


130 A1 132 «n% 
18 Sllfe 
2 916 
10171% 
1132 71% 
12 8V* 
8 4VS 
334 2«ft 
1023 41% 
J6I 27 36320** 


3iIAr 

> 


305 2*6 

ColFBI 

1.08 

SJ 

218M 

CalMIC 

CalSIv 

l 


5,5 «M 
71 4fe 

CalWIr 

S 2J0 

58 

29 461% 

Caiian 



137 3 

Cainv 

.16 

1j4 

BI2 

Calum 

.148 TJ 

2 B 

Canon 

Conan 

i 

Jlr 

.9 

918 IBM 
26 23M 

CapSw 

.16a 

.9 

10 171% 


life 43 1725 24*h 24M + » 

J U saaMte 20 20*4 
iSnlU »523 22Vk 22M + Vft 
tSS’S 93191% 19 1916 + J6 

iSaSlOB 126 151% 14*4 151% + 1% 
330 13J lgO*4 2214 22Vi 

'Sil Wf T±\ 

.5 » ^2^204 + 14 

3Je 1 J 2 416 416 416 

UMbSJ 23 36*6 36 36 — *4 

97161% l«ft 1^- ?* 

,a^ 

- - MB Big 

Kf 4J 7 8 8 8 — Vft 

1563 7 AM 6*6 

10616 15*4 15*6 

216 3 2M 2M- fe 

M 23 1048 181* 18*4 1M 

87191% 181% 18*6— 

2 8 8 8 +1% 

1964 8» Jgft 81% + J* 

238 3.9 «S 5* 53M SUB + fe 

232 2Vft 2fe Oft 

138 4*4 41% 41% 

jO 23 202316 23V. 2316 + 1% 

13 4fe 6*6 616 

AO 13 loaife 21^6 21^ 

.14 1.1 272131%" 121% 13 + Vft 

JA 17 4415 15 15 

1 916 916 916— M 
8162816 261% 28fe +11% 

4 6*6 6*6 6*6 

1171 14*6 14** MM — M 

fi a niKS 11 «s:a 

£5 S0 22*A 22*4 22*6 
m “ 2 7V4 Tfe 7fe + fe 

2224 Z3V% »% 

JOe 22 1 9V. 9fe 9W , 

9915M 15fe ISfe I 


200 2VW 
3Br S 416*4 
8011*4 
322 12*6 
25 8 

■W 2-1 g 3M 
27 l*ft 
1 BS012U. 

140a 23 548 

163 269ft 
II Wk 
130 S3 1293»6 


34b 23 100 291% 

30 23 4739*6 


37161% 
08. 53 66741% 

16310*6 
43111*6 
349 8*6 
527120 
94 6*4 
t 11 11V* 
1361 24V* 
144 29 
65 6M 
JOe 13 2131% 

.13 .1 6397 

41528V* 
3131216 
209 4M 
518*6 
34 31* 
127 6H 
136 51 » 3916 

1915 
6 5*6 

JOe 3 13524*4 

62712V* 

63 3*4 

.72 2.9 62K 

JB 13 31518 

71 11* 


112,9*6 19 19Vk 

73 1216 12 12 

1181 MM 101% 10*4 + lft 
1Z71WV4 28*4 ®*6 


2877V* 26M 27 + Vk 

&« BJS 

’sir “ 739 MW 19*6 Mfe + fe 

■ 12 " * 3494 1BW ,8 1814 

t 46 7*k 7*4 TVk- Ift 
284 616 5M 616+1% 


96-59 gg^Svk^U 

* “ 

230 121 1319*4 19*4 19*6 

1507,1% 301% 2,1% +1 

2314M ,41% MM 

JO. 29 6 71% 7 7 

161151% 151ft 15M + fe 

4 3 3 3 — M 

431716 14*6. ,4*6— V* 

34a 13 23040*6 39*6 40W 

23419*6 1916 191% 

102 4fe 41ft 41ft— Ik 

5213*6 13«% 13M + lft 

7211% 211% 211% 

227 41% 4*4 41% + M 

AOe A1 S3 IS 141% 14*6 — fe 

156 87 13218 171% 18 +,fe 

130 10J 5171% 17Vk ,71ft— Ife 

130 19 1 34 34 34 — 16 

3716*6 16M 16M 

.74 37 18220 19M 19Jk + fe 

106 816 8 8*6 

1246171k 1TM I2fe + fe 

130 19 13S 3S 35 +1J% 

129515 MM 14M— lft 

JQ .1 a 14 13Vk 13*k + 16 


r i 


Weekly net asset value 

Tokyo Pacific Holdings N.V. 

on June 3, 1985: U.S. $123.39. 

Listed on the Amsterdam Stock Exchange 

Information: Pierson, Heldring A Pierson N.V, 

I lerengr a cht 214. 1016 BS Amsterdam. 


1416 — Vft 
741ft +1 
3M 
row 

11*6 + 16 
Blft + Vft 
IBM— 1 
6M + Vk 
life 

24*k— Vk 
2VM + Vk 
6Vk— th 
13M —1 

» —a 
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17, MM 13A 141ft + A Srvmat 
28743*6 42+ 43*6 +1fe Sre After 



Supplier of the Rotterdam and Amsterdam 
optical fibre cable / 

\ business network. I 




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117 4 5 4 + fe Vorlon JO 47 

67 8+ 8+ 8+ VectrG 

JB 4J 43 4+ 4A 4fe VbloBdb 

117+ 7+ 7+ + + Vanlrex 

358 ife 5+ 5+ VbrnT JO 1J 

109 6M 416 6M + A VblO 

19815+ 151% ISA— A VlcanF 
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436 91ft BA 9A + fe ViCtBn 1J0 4J 

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JO 37 55221+ 21fe 211% — fe VBrom t 
57 9+ 91% 9fe VOdavl 

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J5 7 1D4B 71k 

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276 9J 13430+ 30+ 30+ + + 
31 131% 13 13fe + fe 
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11 + A 

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U.S.S100.000.000 Guaranteed Floating Rate Notes due 1 992 

Lloyds Eurofinance N.V. 

(incorpomtad In the NetherbnOa with limited liability) 

Guaranteed on a subordinated basis as to 
payment of principal and Interest by 


SCaiwt 

180 

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5 7+ 7+ 7+ + A YortcR3 A 4 J 

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Reliable partner for nkfh 

^ _ Membei or the Philips group ol companies. 

a modem network sjsss=s£kc 

A* At L * w 2740 AB Waddmicveen. ihe Meiherlands 


Ooyds Bank P.Lc. 

(Incorporated in England with baited CabWW 

In accordance with the terms and conditions of the Notes and the provi- 
sions of the Agent Bank Agreement between Lloyds Ewoflnanral N.v„ 
Lloyds Bank P.I.a and Citibank, NA, dated December 8. 1980. noticeis 


the interest payable on the relevant Interest Payment Date. December 6. 
1985. against Coupon No. 10 will be US$204.92 per US$5,000 Note. 


NKF Tfelecommunicaiion Cable Systems. PO Bos 85. 
2740 AE Waddmxveen. the Meiherlands 
>lhTbor.e * 31182818122 Tefex 20SS5 nVfi nl 


June 6. 1985. London 

By Citibank. N A (C5SI Dept I . Agem Bank 


OTIBAN<€> 


NOTICE OF MANDATORY REDEMPTION 

A National Westminster Bank PLC 

US $50,000,000 m, Capital Bonds 1986 

Sr i^^ptio^n*ul^ n T9S5 wasDubhah^ 8 ^ rawn by lo ‘ 

2132 was published indorrecSy ThlcDrmri h m?^ nd u nurr,ber 
bond number 3i32 y ‘ ne corr e c * number should be 

THE CHASE MANHATTAN BANK, NJL 
Principal Paying Agent W ’ A ’ 

Dated June 6 1985 


j- prw.oavoPbninrnKTao otrrrr 








INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


Page 13 



Season Season 
High Law 


Ooen Mali Law Oow On, 


Grains 


Jut wi wife xmb 122 ft 

Sep 131 125 122 1 Z 4 K. + JB* 

Dec U 0 V* um 3 JBK 131 * 4 JO 

Wlar X 3 Sft UM 3 L 3 S 1 A 133 +Xtto 

MOV 123 ft 12 J» 122 122 + 22 * 

Jut MH 3 X 9 3 X* 3 X 6 +X 3 ft 

Prev.Sales 11^54 


2 .W 151 

110 z 60 

321 'A 244 ft 

1*6 24 <ft 

*** Ul* 

Est. Sole* 


WJftATJCST) 

5 JU<mi minimum- dollars Mrburtwt 

IZt ^ *» » » 

163 V. li| 

3 J 4 ft 127 » 

+02 He 

172 ft 

E si. Sales 

Prey. Dav Open InL 40240 ott 2 S 3 
CORN (CBT) 

SiWObu mini munv dollars Mr bushel 
Ml 222 Jut Z 74 ft 275 * 174 * 275 * +JB 

Ulft 255 * S«p 25444 150 254 ft 250 +XH 6 

Dec 253 ft 256 ft 253 255 * +JXM 

Mar 242 ft 165 * 242 * 145 •MO* 

MOV 247 2711 ft 247 2 JUft -HO* 

Jtff 140 270 * 240 240 ft ,+M 

Sea 255 * 255 ft ISM 255 ft +JBUi 

Prev. Day Open Int.tazxzz up uw 

SOYBEANS (CBTI 

S 500 bu minimum- doHorg per bushel 

i 5 556 ft Jul 54 * 546 ft 541 * 547 * + 55 * 

754 552 ft Alls 555 541 ft 554 * 540 * +JW 4 

*-71 S 46 ft Sep 551 557 551 554 * + 51 * 

640 54 fft Nov 554 541 553 ft 550 * +J 0 ft 

6 . 7 J 555 * Jan 543 5 JJft 553 571 +.OT* 

343 549 Mar 574 ft 651 574 ft 551 +.10 

779 577 May 544 549 ft 543 549 ft + 70 ft 

658 542 Jut 344 ft 554 ft 546 ft 544 ft +.Mft 

Es* Soto Prev. Sola* 26 JS 4 

Prev. Day Open InL 61440 an 3.154 
SOYBEAN MEAL (CBT) 
tors per ton 

ISH 3 11740 Jul 11170 12000 uuo 11970 +40 

iwun 12040 Aug 12140 12240 12 U 0 12270 +40 

J 2 -S t33 50 Sep 12*48 13 S 40 11*50 13 S 50 ■+» 

'BO -50 1 2 AM Od 127.50 0040 127 JO T 2 SJB +140 

1 M 40 13 U 0 Dec 13250 13340 13250 133.10 +40 

14100 13*50 Jan 13550 13450 13540 135.10 —JO 

20650 139.10 Mar 14040 M 1 X 0 14040 13940 +50 

16250 14340 May 14350 14340 44350 14358 - -Ml 

14740 1«740 Jul . 144.10 — 1.10 

EOT. Soft* Prev. Sales 1 O 0 I 2 

Prev. Day Open InL 51003 Ml 504 
SOYBEAN CHLCCVT? 

40400 lbs- aollanperlOO fts. 

32.72 2270 Jul 3000 3035 2977 3059 +57 

31 ^ 2250 Aim 5845 2955 3452 2 SJM +72 

31.10 2250 Sep 2755 2045 2755 2042 +44 

3037 2190 Od 2450 2740 2*59 2475 +-45 

29-55 22.90 Dec 2555 26.10 2555 2643 +54 

2947 2340 Jon 25.15 2545 2115 2155 +54 

2 j -60 2440 Mar 2*75 2520 2475 2550 +40 

Z 7 A 5 2*20 May 200 2*15 -T *30 2475 +45 

29 l 15 2375 Jul 3 CSS 2430 3400 343 * -Mi 

Aup 2375 

Est. Sales Piev.Sates 12.1 g 

Prev. Day Open InL 57516 0 R 6 M 
OATS (CBT) 

law buminifnufn- dollars per bushel 
178 ft 147 * Jul 14 * 154 153 153 + 50 * 

179 147 ft Sap 142 152 151 * 151 * — 40 * 

152 ft 152 ft Dec 154 ft 154 ft 154 ft 154 * + 50 * 

157 * 150 ft MOT 150 + 50 * 

153 150 May 150 ft 

Est- Sales Prev. Softs 221 

Prev. Day Open InL 2536 off* 


Livestock 


CATTLE (CMEI 
40400 lbs.- cents per lb. 


MSB 

6042 

Jun 

SMI 

9)77 

seas 

59-57 

+47 

67£7 

6041 

Aim 

62.15 

6240 

OK 

6247 

+57 

65.90 

60.10 

Od 

6240 

6245 

6 X 02 

6257 

+JB 

6 X 05 

6 IJ 0 

Dec 

63 L 5 D 

6322 

6 X 12 

6347 

+22 

67+5 

62 . TO 

FeB 

6*50 

6*55 

6400 

**52 

+.12 

67-57 

6 X 50 

APT 

6 U 5 

65.3 

6450 

6552 

+.17 

6625 

6525 

Jun 




6540 

+.16 


Est- Softs 18-256 Prev. Sales 34500 
Prev. Day Open InL 51339 up 72 
FEEDER CATTLE (CMEI 
44500 it®.- can Is par ox 
7370 
7100 
7232 
7120 
79 AO 
TOja 

7850 _ 

EsLSalee 1509 Prev. Sales 1143 
Prev. Day Open InL UKu»*o 
HOCS(CME) 

30 X 00 to- cents per to. 


6447 


6745 

6 X 20 

6745 

6 XS 5 

+43 

6*60 

85 

OJS 

6752 

* 7-50 

6745 

+JX 

6*25 

6740 

6740 

6740 

6722 

+27 

6525 

Nov 

6 X 50 

6045 

6 X 4 B 

6 X 40 

+20 

6650 

Jon 

6945 

6945 

6950 

4940 

+Jt! 

66.10 

7000 

Hot 
A or 

0940 

WTO 

6940 

<940 

*920 

+.TO 


5540 

4440 

Jun 

4625 

47.15 

4 X 70 

44 X 5 

—02 

5577 

47 JB 

Jul 

5030 

5 X 25 

4920 

•20 

— >42 

5427 

47 27 

Aun 

*922 

5015 

4945 

4945 

—SO 

5175 

4500 

Od 

4662 

4620 

4460 

4477 

+.15 

5085 

*620 

Dec 

4720 

4020 

4742 

4 X 20 


5000 

4625 

Feb 

4 UD 

4 X 20 

4 XJ 0 

4 X 27 

+27 

4725 

4*50 

Asr 

4527 

4570 

4525 

4620 - 

+45 

49 JB 
4975 

4620 

4725 

Jun 

Jul 

4 X 00 

*000 

4 X 00 

4 X 00 

4 X 90 

—22 


Est. Sales 4048 Prev. Sales 10507 
Prev. Day Open InL 22544 o*f*M 
PORK BELLIES (CMR) 
rftL 


0247 

61.12 

Jul 

6445 

67.10 

6525 


+05 

0045 

6020 

Aim 

6500 

6625 

6*90 

6527 

—25 

7420 

6 X 15 

Fell 

7140 

7220 

7120 

7147 

+20 

7540 

6400 

fetor 

7100 

7 X 55 

7100 

7120 

+.10 

7540 

7 X 10 

May 

7125 

7125 

7125 

7125 

—45 

7600 

6920 

Jut 

7245 

7300 

7265 

7125 

+25 


EsLSate* 7506 Prev. Sates 7 Jlf 
Prev. Day Open int. 11534 oft 49 


Food 


COFFEE C (NY CSCE) 

37500 Ibs^ cents per lb. 

14950 12150 Jul 1*251 MM* 14270 MSLM 

14750 12750 Sep 14*90 M 555 MUS 14 S 7 * 

14670 12975 Dec *401 14 S 50 MU 5 14 M 

'! 14550 12850 MV M 350 14475 M 158 14475 

moo 13150 May 14175 14375 T 4375 14175 


13550 Jul 


’ 1*350 
14258 

Est. Sales 2550 Prev. Sates 2721 
Prev. Day Open InL 12544 up 155 
SUOARWORLD ll(NYCSCB) 


14275 

14175 


+ 2.19 

+152 

+177 

+57 

+175 


112000 to*.- cents pot to. 
9.95 292 Jul 

286 

292 

2 X 6 

291 

—02 

925 

105 

Sen 

300 

X 03 

297 

282 

—03 

905 

111 

Od 

X 10 

XU 

30 S 

XU 

+02 

725 

» 

Jan 

162 

362 

X 55 

ZM 

—02 

923 

Mar 

400 

407 

1*6 

406 

+OS 

7.15 

Em 

May 

*20 

429 

419 

420 

+OS 

469 

Jul 

441 

*54 

439 

453 

+OI 

420 

496 . 

476 

420 

Sea 

Od 

420 

467 

40 

444 

416 

+Oi 

+.13 


EM. Sates 18510 Prev. Sates 12510 
Prev. Day Open Int 9 J.U 2 up 145 
COCOA (NYCSCU 


10 meWc tone-leer ten 
2*00 1990 Jul 

3060 

2074 

206 * 

2057 

—a 

3615 

190 


1034 

2 X 40 

3027 

SB* 

+« 

2337 

1941 


3033 

as 

3010 

3016 


2190 

1955 

Mar 

2035 

2035 

2010 

2020 

42 

2130 

I 960 


20*0 

30*0 

VOS 

2015 

-3 

2110 

Ext Sales 

1 MB 

Jul 

Prw.Sato* 1012 


2040 

— J 


Prev. Oav Open lot 20744 off 207 
ORANGE JUICE nnrcra 
15500 Ita.- cents per lb. 

18485 13870 Jul 1*125 1*370 14125 14155 

18250 T 36 J 0 Sep 14025 141.55 14025 14055 

101 X 0 13680 Nov 14850 14070 14050 13970 


+55 

+J 0 

+50 


Season Sewn 
High i**» 


Open Hiatt Lew dose 


10880 mn Jon HN 8 WO 13950 139.15 

17750 0650 Mar 13950 14880 15950 13970 

l £250 13670 May 14050 14098 14040 139 AS 

157 J 0 . W 2 D Jrt 139 JO 

18858 17975 3 »P T ??.50 

Nov 137 JO 

ESL Sales 300 Prev. Sales 199 

Prev. (MY Open InL MOBupt 


□to. 

■ 5 eo*on 
High 

Season 

Las* 

Open 

HWt 

Lew 

Close 

Os. 

+J 5 

+00 

+90 

■ ■ —t m ■' ■ 

1 X 516 

19595 


+.90 

14*50 

uneo 

Sea IXOS 

M 540 

19325 

19450 

-IDS 

+90 

1 J 0 M 

10206 

Dec 10400 

1,7420 

19300 

193*0 

— 115 

+90 

1 JS 0 B 

1 X 680 

fetor 1229 

1 7191 

1229 

19 U 0 

—nr 


12250 

1.1905 

jun 



19130 

—130 



CBPP 0 R (COME 9 Q 






25 X 00 nv cento Mr to. 






6 & 5 S 

6095 

Jun 

6031 

6031 

6031 

609 S 


0895 

5700 

Jul 

6070 

61.15 

6075 

6090 

—60 

82.10 

5790 

Sep 

6175 

6245 

6190 

Al^O 


1*95 

5090 

Dec 

6205 

6290 

6295 



suo 


Joti 




6295 


00100 

5940 

fetor 

6395 

6175 

6140 

urn 


7400 

61.10 

Men 




61*5 


7440 

61 JO 

JlH 

6460 

6*45 

6422 

6410 

—90 

7090 


Sep 

6400 





7 X 30 



69*5 

6445 

6445 



8130 

65 J 0 

JOT) 




6540 


67 X 0 








EstSato* A 5 D 0 Prev. Sato 9012 




— ii Tut r rfT 










40 X 00 IX&- cents aerlb. 






49 X 3 

4845 

Jun 






9940 

4 S 9 S 

Juf 

*790 

4705 

*705 

* 7.15 

—40 

. 7430 

4690 

See 

47.90 

47.90 

* 7.15 

47 JO 


7060 


Dec 

4 X 90 

*900 

*000 

4 X 05 


7660 

51 JS 

Jan 




*990 


7340 


Mar 






■6475 

5395 

May 




5095 










52.10 

5100 

See 












51 X 5 




Jan 




5340 




Mar 






Ert.Sote 

20 Prev.Sales 

395 















1 1 1 1 . t a • • * 3 - iiiiv'.flii'.i-' 





Bf TH 


Jun 

6090 

61 X 0 

6090 



14610 

5630 

Jul 

6110 

61 X 0 

6100 

61*0 




Aug 






11 X 30 

5730 

Sep 

61 XO 


6170 

6219 



■ ^1 ■ 

Dec 


6370 






Jan 






■ 119 X 0 

6070 

Mar 

6440 

6440 

6*60 



1300 

*210 

MOV 

* 6 QX 

66 X 5 

65 X 0 











MOO 


Sop 

67 X 0 


6730 



TWO 


□ec 

6910 

6910 

6910 

6079 


7890 


Jan 




6929 


7100 


MOT 

7060 

7040 




Est. Softs 13000 Prw.Sato 1 L 92 S 



















w '/ /m 

25100 

Jun 






4*990 

2*100 

Jul 

26400 

26450 

|'ll | 

26290 


39 X 00 


Od 

271 X 0 

feiil 1 

L T J 

ri/'l 


37390 


Joa 

27590 

27590 

1 - /*•'“■ 

27 X 10 

— SJ 0 



Jul 




9 ¥ 19 n 


Wirier-, *r- 

14 M Prev. S ms 1.756 




ESEI 1 ■ 1 — 




IJ. IR 1 JLU . t 7 Tni 






TOO tray az-aonm pern 






15990 

9425 

Jun 

9900 

9990 

9775 

9775 

—205 

WITS 


See 

MX 0 O 

KBOO 

97 X 0 

9790 

—290 

1*190 

9500 

Oec 

9975 

9975 

9775 

9790 

—295 

12790 


Mar 

99.25 

9990 

9 X 7 S 

97*0 


11*00 

9675 

Jun 




90.10 


EM. Salat 

6 X 4 Prev. Sato 





1 JtTYt+TI- 1 ■ i | — 











WO troy ol- doOara pot troy az. 





51000 


Jun 

31440 

31570 31400 

315.18 

—JO 

32 X 50 

31 X 50 

Jul 

31450 

31450 

31450 

31400 


*8500 

29100 

Aua 

1 1 rf 7 1 

i 1 » 7 #i ' I 

—70 

47306 

t.cm 

Vi*vB 

TJXtJ 

L , ,J . ■ 

R 11 

F-iT.l 


*0990 


’ J 


t'r t ! 1 


—t.V) 

OT 590 

30600 


'.r\ X''B 

Lv.rl 

ni 

FP 1 

—190 

49600 




r " •' 1 ' 1 


33300 

— 198 

*3570 

32090 

Jun 

33700 

33700 

33700 

33 X 90 

—170 

42 X 40 

311 X 0 





342 J 0 

— 7 AQ 

39590 


Od 




3*740 

-820 

39100 

34200 

IZJ 

pT) 

35 X 30 

mm 

i n 




E 3 

rn 

L”- 7 vl 


E 3 H 

— XTO 

Eat Soto 22000 Prev. 5 a lee 19491 




Prev. DaV Open IHL 124151 up IB* 




Financial ! 


7 X 3 S 

7054 

Jun 

7301 

7302 

7203 

75 BS 

702 $ 

S*to 

7260 

7270 

72*9 

7566 

TOW 

Dec 

7 Z 3 S 

7235 

7332 

7504 

ONI 

Mar 

7215 

7215 

720 * 

7350 

7070 

Jun 





EM. Sate* 21759 Prev. Sate* W 544 

Prev. Day open int 48777 off 1303 

CANADIAN DOLLAR (I MM) 

spot «U r-l paint equals 800001 

— — — rm 

7242 
7333 
7719 

7383 

EM. Scries 1535 Prev. Sates 1588 
Prev. Day Open InL 12,111 aft 259 

FRENCH FRANC (IMM) 

S per frano-l Point MuolsSaOOOai 
.11020 59410 Jvn .10455 .10455 .10655 .10655 

.10940 XWD Sep .10605 

.16415 59470 Dec .18560 

EM- Sales 55 Prev.Sales 41 

Prev. Day Open int. 812 

GERMAN MARK (IMM) 

Spot marfc-l netnt earn Is S 00001 


— U 
— IS 
—10 


7733 

7905 

Jun 

7362 

7272 

7251 

7270 

44 

7545 

7930 

Sop 

7200 

7290 

7266 

72 S 7 

+4 

9610 

9415 

m 

90*0 

Dee 

Mar 

9303 

7305 

7296 

7306 

7327 

—3 


Est. Sates JUB Prev.Sales 2*907 
Prev. Day Open InL 94782 up 749 
JAPANESE YEN (IMM) 

Spot yen - 1 paint equate S 0400081 
004650 503826 Jun 50*013 JB 4 D 18 58*089 504016 +4 

KM 7 50 J 0387 B Sea 504029 504033 50403504031 +3 

004350 -BC 39 QS Dec 504 QSD XM 0 S 3 504045 5 M 049 — 1 

004140 50*033 Mar XIMOT 504070 50*070 50*075 — W 

Est. Sales 125*0 Prev.Sales 11447 
Prev. Darflpen InL 27748 up 419 
SWISS FRANC (IMM) 

Spot franc - 1 point equals 10 X 001 
4900 3439 Jun 7897 7896 7871 78 RS +3 

7830 5*30 Sep 5912 5922 J»S 5920 +3 

7360 5531 Dec - 3 M 0 79*8 7925 5945 +2 

4025 5825 Mar A 00 C 4000 4000 4 M 0 

Esl. Sates 21515 Prev. Sates 2 SA 1 S 
Prev. Dav Open bit 32742 oft 750 


Industrials 


LUMBER ICMQ 


UST. BILLS (IMM) 

SI m i a ion- rt* on oo pcL 
9404 87.14 Jun 

92 J 4 8694 Sep 

9230 8577 Dec 

9219 8450 Mar 

9158 8751 Jim 

91 A 4 8200 Sep 

9179 8955 Dec 

9057 0958 Mar 

Est. Bales U 530 Prev.Sales 11437 
Prev. Day Open InL 34571 off 1487 
18 YR. TREASURY (CBT) 
suaoae erla-pts A 32 ndBariOB Pd 
88-18 7 W Jun 89-15 89-18 

87-18 73-18 Sep IB -15 88-21 

84 - 16 . 75-13 Dec 87-13 87-13 

85 - 11 75-14 Mar 

84-18 7630 Jun 

Fst.Satee Pm. Sales Q 5 B 

Prev. Dav Opan let. 49518 off 89 
US TREASURY BONDS (CBT) 


9213 
9294 
9258 
9236 
9209 
91 JO 


9219 
9211 
9279 
9249 
9219 
91 J 1 


33 

9258 
9236 

9259 
9 U 0 


88-23 

E 7 - 2 B 

86 X 1 


9359 
9359 
9277 
9244 
9217 
VU 2 
91 AT 
9149 


899 

SH 

8+8 

85-17 


+56 

+27 

+27 

is 

+58 

+29 


+17 

+M 

+15 

+15 

+15 


repcMioainfrals 0 , 32 nd 

lonobpdi 




79-10 

57-20 

Jun 

00 

00-11 

79-13 

79-29 

+17 

78-12 

57-10 

Set* 

79-1 

79-12 

70 -U 

79 

+10 

77-13 

57-0 

Doc 

70-3 

70-13 

77 - 1 * 

7+1 

+10 

76-10 

57-2 

Mar 

77-12 

77-12 

7+19 

77-2 

+16 

75-17 

5+29 

Jun 

76 

7+6 

75-24 

7+6 

+ 1 * 

7+27 

5+29 

Sep 

7+31 

75-31 


75-11 

+11 

74 

56-25 

Dec 

74-34 

7+31 

7 +W 

7+21 

+11 

73-15 

5+27 

Mar 

7+15 

7+15 

7 X 02 

«r 

+30 

72-27 

63-12 

Jun 

73-4 

73-11 


+25 

72-03 

63-4 

Son 

72-20 

73-27 

72-16 

73 - 3 * 


7+29 


Dec 

73-18 

73-18 


72-11 

EsE Sales 


Prev. Sales ) 64766 





Prev. Day Open Int 20747 l oflRJ 


5100000 

prin-pts 6 . 32 nd* 

Ot 100 pet 




75-27 

57-17 

Jun 

7+9 

' 77-4 

764 

7+34 

+1 

75-10 

5+13 

Sep 

7546 

7+14 

75 - 3 * 

7+7 

+11 

7+22 

5+4 

Dec 

7+17 

7545 

7+17 

7541 

+11 

7+6 

5+20 

Mar 




7+5 

+11 

7+20 

5+35 

Jun 

7+21 

7+23 

7+23 

7+23 

+11 

6+31 

65 

Sep 




7+11 

+11 

Ed. Sate* 

Prev.Satox 

723 





Prey. Day Open Int. 4411 0 H 117 
CERT. DEPOSIT (IMM) 

St mUUon-PteofUQpc* 


9275 

XUO 


9207 

9209 

9279 

9205 

+.13 

9229 

05 X 0 

9 *P 

92 J 0 

9240 

92*5 

9256 

+98 

9179 

8134 

Dec 

9206 

92.13 

9206 

9212 

+90 

9141 

0656 

Mor 




9173 

+90 

9100 

•643 

Jun 




9141 

+J 1 

9078 

1706 

5 ep 

9108 

91 X 8 

9100 

91.13 

+91 

6 X 09 

■094 





9007 

+92 

E*L 5 a)es 


Prev.Sales 

926 





Prev. Day Open InL 4591 off 575 
EURODOLLARS (UMM) 

SI nriUicn-ptsotMOpcL 


9240 

■249 

Jun 

9250 

9259 

9246 

9255 

+.17 

9 U 5 

0453 

Sep 

9 X 13 

9226 

%s 

9223 

+90 

9149 

6*00 

Dec 

9149 

9102 

9170 

+91 

9109 

64-10 

Mar 

9190 

9142 

S3 

9 U 9 

+92 

9074 

1673 

Jan 

10 J 6 

91 X 7 

91 X 6 

+92 

9045 

07 X 0 

Sep 

9070 

9070 

9040 

9078 

+91 

90.16 

0790 

Dec 

9 X 40 

9 X 53 

9040 

9 X 52 

+92 

ftp 

1744 

Mar 

90 . 1 * 

9029 

90 . 1 * 

9026 

+92 


Est Sates Prev. Sates 34772 

Prev.Oay Open InL 128412 offlABO 


13X000 ML A* Spot 1X00 bdL ft. 



157.10 

-KL30 


£S 

Sep 

If I 1 

|L/ > >■ 

IL’A | 

15950 

4330 





|T ~ + *j 

160.10 

+240 




|rrr'| 

■ ‘I 



Kill 

195X0 

15000 


I ‘ / C 

I ‘ “ i * J 

1 

| ^ ' V t B 

+2J0 

17640 

183X0 

153X0 

17340 

May 

Jul 

17200 

Lu 



+140 

EM. Sates 

1595 Prev.Sales 2119 




Prev. Day Open nn. 1086! up IS 




COTTOM 2 (HTCE) 




6254 



6050 

Jul 

6342 

6142 

6245 



pm 

Od 

6155 

6155 

6191 




p of 


6245 

6249 

6150 


— J3> 





6372 

*-* SB 




6106 

MOV 

MTS 

6*95 

63X0 

63J0 

—us 





6*35 

6375 


-41 


59 JO 

Od 

6X95 

6095 

60X0 

6070 

— 95 

Est Sales 

ft* 




Prev. Day open Ini. 1+400 up TO* 




HEATING OIL IHYME1 






42000 oat- cento pot pa) 

7040 

7040 

68.10 

6R2S 

—047 




7095 

7095 

6X44 


— ? nn 





7X45 

09.13 

69.13 




7195 

7195 

*975 

6901 



72X0 

Nov 

7208 

72X0 

7041 






72X5 

7*JK 

72X5 



7650 

7370 


7340 

7340 

7340 

7XB0 

— 40 


7350 

7350 

7390 

73.90 

^5D 




7X0O 

72X0 

7200 



Est. Sales 


Prav.Safae 4535 




Prev. Day Open InL 17033 oft *86 




CRUDE OIL(NYME) 

lOOOttoL-doPnrsperbbt. 




2052 



2*10 

Jul 

2740 

2744 

27X1 

—41 


3695 


2676 

2600 

24X2 

26X2 

—02 


3*0* 

Sep 

2698 

2*45 

2545 

2545 

— 03 


3*65 

V . s 

| V/l 

1 H ,J 

2545 

25 JS 

—77 

2950 

7*to 


R *T.~ ■ 

E- * 1 ~ j 

F?vR 


—42 

2950 

2350 

Dec 



KK 

252 

—47 

350 

3*85 


K56 

2550 

2556 

2540 

— .15 

Est. Sato 

Prw.Sato 1201* 





Prev. Day Open InL 54502 ua 1 AS 4 


Stock Indexes 


(Indases comnUed shortly bo fare market close) 
SP COMP. INDEX(CME) 
retorts and cent* 

19150 156.10 jun 19075 191.15 19040 19055 

19*55 16050 Sep TO+A 0 19*90 19*10 19*40 

19755 T 75 JB DOT 19775 19850 19755 19750 

20150 190.10 Mar 2 O 1 J 0 20120 20125 20125 

Est. Sairrj Pfev.Sates 6*590 

Prev. Dory Open lot 76273 up 148 ) 

VALUE UNE CKCBT) 
points and cents 

219 A 0 17350 Jun 20850 28120 20050 20045 

21230 18475 Sep 20650 20650 XMAS 20*65 

21350 20050 DOC 21050 210 AO 20945 28946 

Est Safas Prev. Sates 1692 

Prev. Day Open InL 8223 off 584 

NYSE COMP. INDEX (NYFE) 


+25 

+25 

+25 

+40 


+45 

+25 

+JS 



90X0 


11045 11045 

11090 

11040 

+.15 


9195 

Sep 

1T3.U) 173.15 

11270 

11205 

+.15 




115,15 115.15 

11*05 

11*70 

+90 



M or 

11470 Tl+90 

11670 

1MT0 

490 



Prev. Softs 11983 




Prw.Day Onto Int. 13,177 nflas 





Commodity Indexes 


Moody's. 

Reuters. 


DJ. Futures. 


Cose Previous 

9Q3J0f MXBOf 

177440 1J76^0 

NA 119.69 

Com. Research Bureau. NA. 231 JO 

Moody's : bos© 100 : Dec. 31, 1931. 
p - preliminary; f- final 
Reuters : base 100 : Sep. 18, 1931. 

Dow Jones: base 100: Dec 31, 1974 


Market Guide 


CBT: 

CME: 


NY CSCE: 

NYCE: 

COMEX: 

HYME; 

KCBT: 

NYFE: 


Oilcnoo Board of Trade 
CMcobd Mercantile Exchano* 

Internal tanaf Monetary Market 
Of CMengo Meroontlta Exdionae 
New York Cocoa sugar. Coffee Exchange 
New York Cotton Exdxxme 
ConwTxxflty Exdxmse, New York 
New York Mercantile Exdxmae 
Kanwa Oty Boon ! of Trade 
New York Future* Exdwnoe 


Asian Commodities 

June 5 


. HONG-KONG GOLD FUTURES 

JJJ POT BOM* 


Jim — NX N.T. 31*50 31650 31550 31750 
JIV _ N.T.N.T. 31550 31750 31750 31950 
AUO - 31950 31950 31750 31950 31850 32850 
Od _ N.T.N.T. 32150 323 J» 32250 32*50 
DOC > 32550 32550 3 UXB 32 U» 32650 33650 
Feb - N.T. N.T. 32950 33150 33050 33258 
API — N.T. NX 33350 33550 33550 33750 
volume: 21 tote of Wax. 

SINGAPORE GOLD FUTURES 
U.SJ pot onset 


M 

31840 

N.T. 

N.T. 


Prtv. 

Law 

31550 

31840 

N.T. 

NX 


Settle 

315.10 

3UU0 

32QJ0 


seme 

, 3V4J0 

ijltJO 

■1170 


Volume: 100 lots of 100 az. 
SINGAPORE RUBBER 

Slneapora amts pot Uto 


RSSi Jun- 
RSSl Jiv— 
RS 5 2 Jun_ 
RSS 3 Jun_ 
RSS 4 -hm— 
RS 5 5 Jur>_ 


17150 

76950 

16875 

16*75 

16235 

15775 


Source: Reuters. 


173 JM 

17050 

16975 

16775 

16*75 

15975 


BW 

173 S 8 

17050 

1075 

16775 

16125 

75875 


11*50 

17150 

17025 

yss. 

1 MBB 


( 


DM Futures Options 
Jane 4 


K GvmaiMt-nUBnigri&eRSpvmart 


Strike . Coe** 

Price Joe See 

11 1 A» 225 

h 071 1-58 

33 857 158 

34 851 048 

JS Ml « 4 J 

S U1 ft 

Estimated total veL 4 AH 
Sits: Tuo. nL 2 JWI opes taL flJU 

Pds: TiM.«oLUOI 0 ealeL 37 J 8 f 

Source-' CME. 



Company 

Earnings 

Revenue and profits, in rnHSons, 
are m beat currencies unless 
otherwise indicated 


Britain 


feed Inti 


Year 

Revenue— 
Preto* Not. 
Per Shore. 


£120. 

WS 

1536 


1983 

£ 640 . 

964 

0577 


Canada 

Royal Bk Canada 


2nd Ouar. 

vm 

m* 

Profits 

1004 

11U 

Per snare 

180 


1st Half 

19X3 

m* 

Profits 

2215 

Mi 

""jjr Shore 

1B3 

112 

Japan 




Toshiba 


Yoor 

19*4 

IN) 

Revenue 

— . 3MT 

Z71 T 

proms 

66,12a 

am. 

p-rWtMTO — 

2M3 - 

2 296 

T; MtHan. 

- 




8*950 84250 
S 4 & 5 D 86050 
COPPER CATHODES (HlBb Grade) 
SfOTRne pot metric tea 
not 1 , 14*50 1 , 1*550 1.12150 1.13050 

forward L 15950 1.15950 1.13850 LI 3950 

COWER CATHODES (StODdOrt) 

Sterllaa dot metric fan 
wat 1,14350 1.14550 1,12050 L 12200 

fanwd 1,14850 1.15850 1.12550 1.12750 

LEAD 

sterttao pot BMfrte lea 
SPOt 30050 30150 29750 29850 

forward 30450 30450 38150 38250 

NICKEL 

Herflae per metric ten 
SPOt . ■ 443050 *43550 437850 437550 

forward 4 3 005 0 438550 4335.00 434050 
SILVER 


TIN ( SI PH A n _ 

Slerllna per metric Ion 
?PO< . 9590 J 0 940050 952050 952550 

forward 955850 955450 947558 948050 

ZINC 

5 terttna per met ric tan 
Spot _ 48350 40650 59750 59850 

forworn 41660 61650 40850 40650 

Source: AP. * 


S&P 100 Index Options 

June 5 


MM - — 
H ME O 

sv. *» I 

1 ft Vt 4 * 6 ft 
5 /H 17/1416 3 ft 
171* ft l 1ft 


UU 1/14 1/16 - 
171 * 1 / 1 * 3/11 6 

int Y, 7/i4 ft 

as. S’ 


IHoUaBWim QU 47 

TMo*w>l*.SU 9 

TNNPN eeNme 

TMM*OHftL4«a» 

HtebltlU temwa 

RratCiOE. ■ 


DM9U7— U7 


UA TVewny BSD Rates 

Joxk 4 


t-menlfi 

One nor 


Otter 

BU 

TMM 

Prev 

YWd 

605 - 

671 

7.17 

794 

700 

706 

74 * 

749 

73 * 

772 

775 

701 

aSraSWs 





B of A Paper la Downgraded 

Ratte n 

NEW YORK r~ Standard & 
Po or*s C otp. said Wednesday it 
downgraded BankAmerica Corp.’s 
comnwdaiw^ertoA-1 from A-l- 
plos, but anumed the company’s 
long-term senior debt ratings, 
which were cut toA-plus Trom AA- 
-nrinns in March. The connoercial 
paper downgrading reflects con tin- 
ned weak earnings resulting from a 
large amount (rf nan-par arming 
loans and Mgirinterl dai yc 


Cash Prices Jtme 5 




OUMt 
Coffee 4 Santos, ft. 


L 38 

860 


0 JW 


Prkitdani 6400 38 ft, yd _ ___ 

Steel Ml tote (PirtJ. ton *7350 *5350 

lrofi 2 FHb-y.PtiUa.Hm 21350 21306 

steal scrap NoTGvy POL _ 7 mb iao-rai 

Lead SooLIb 19-21 26-28 

Copper elect , to 49-73 69W-72 

Tin (Strata), ft **3 62*55 

Zinc. E. SLL.Bcb 1 s.BI Wfc-AJ 0 A 3 -Ai 

F>ol(adiurtLM 98- Ml 155 

Stiver FLY-tg 6595 9 JO 

Source: AP. 



Low Bid 

SUGAR 

FneKb francs pot ntetrtc km 
Aim 1590 1599 1546 1566 —6 

Oct L 2 ffl 1570 1576 15 W —7 

Dec NX N.T. 1595 1 JOS —8 

Mar 1 JS 0 15*3 1 J 46 1 J 50 — » 

MOY NX NX 1 J 98 1405 —4 

Aim N.T. NX 1467 1475 —6 

Est. voL: 420 late ot 50 lone. Prev. actual 
sales: Z 303 lets. Open fnteresi: 18513 

COCOA 

Pcvacb franc* POT UBKa 

Jly N.T. N.T. 2501 25*0 —5 

Sep 2546 2535 2543 ft 25 * 4 ft +28 

(tec N.T. N.T. 2509 2512 +11 

Mar 25*9 25*6 252 S 25*5 +3 

May N.T. NX 2530 2 M 5 —8 

Jfy NX N.T. 2530 2540 Uncft. 

Sep NX. N.T. 2530 2560 Unc h. 

Est. vat: 11 late at 10 tans. Prev. actual 
softs: 91 late. Open Interest: 450 
COFFEE 

Franco trams per 180 fce 

JIV 2410 2402 2402 2405 +12 

SSP 2458 24*5 2458 2434 +6 

Nov 2500 2495 2580 2 JB 5 - 1-14 

j 5 i N.T. NX 2 A 00 — —2 

MOT NX. N.T. LSB — +3 

May N.T. NX. 2495 — +8 

Jly NX. NX. 2490 — UnCh. 

Est voJ.: 20 lots ot 5 tons. Prev. actual sates: 
22 lots. Open Interest: 2 s 7 
Source: Bourse du Commerce. 



Com puny 


_ 8 PC 
.10 PC 


7-16 

7-8 


Per Amt Par 
STOCK 

Oxford Fat 
Robeson Ind 

OMITTED 

Zonderaon Cora 

INCREASED 
Alaska AH’ Q 5 * 8-4 

DISTRIBUTION 
Houston Oil Tr M 5484 4-27 

USUAL 

Ai_ LOtlS 
Boetns 

BrawnlrepFerrls 
Control Jersey Ba> 

ChornmiB stwnrei 

Cc nc b emco 

Cerraan&Black 
Ftf union Bancorp 
Fluorocarbon 

Gfatfetter Co 

Hotel Proa A 

MDCCara 
MTS Sr rt gott 
PtuuMaiamon 
PMliteB-Van Heu 
pnisburv 
Riverside Group 
SebefOT(RP) 

USF&GGorv 


Source: UPt. 


6 -U 

6-14 


7-15 


6-17 



London Commodities 
Jane 5 


SUGAR 


MOD Low Bid Ask Bid Aik 


Oct 

Dec 


Oct 


9250 6950 9150 9250 9850 9020 
9520 9350 9*80 9550 9160 9 X 30 
15120 9920 NJ 150 10120 9950 10050 
11520 11280 11550 11520 11340 11 X 80 

11320 11 U 9 11920 11950 11750 11 X 00 

124.48 12*88 1264012450 72*50 13*58 

13040 13000 13120 UUO 12850 13000 
Volume: 2,744 late af 90 tons. 

COCOA 

Slorttea per metric tea 
Jly 1268 1247 1246 1260 1246 1247 

Sep 1240 1234 1258 1259 1235 1236 

Dec 12*7 1221 1246 12*7 1521 1222 

Mor 1263 1238 1262 1263 1237 1240 

May 1275 1250 1273 1275 1249 1250 

Jly 12*5 1260 1283 1285 1257 1259 

S<P NX. N.T. 1290 12 W 12*4 1274 

volume: 1223 late of 10 tonx 
COFFEE 

SlerUno pot metric too 
JIV 2454 2526 2541 25*3 253 * 2538 

Sep ZW 5 357 * 3592 2595 2579 2580 

N«r 3 . 1*7 2.115 2 .TM 1133 2.123 2.124 

Jan 2280 Z 15 B 2.164 2.168 7.165 XI 67 

Mar 2.156 2.151 USB 1165 1155 1160 

Mar 11*3 11*3 1135 2 J 60 1137 1155 

Jtr N.T. NX. 2590 1140 1100 1150 

Volume: 1381 Mte of 5 tons. 

GASOIL 

ILS. dollars pot metric foe 
Jao 21525 21550 2142 S 23550 21600 21625 
JIV 21420 Z 1 X 5 B 21 X 50 27325 21*50 21*75 
AtlO 2)525 21525 71525 21550 71650 71625 
Sep 21725 3 T 75 Q 71750 21725 21850 21850 
Oct 21850 21 X 50 71825 77 X 06 779.50 77150 
Nov NX. NX. 22050 22 X 00 HI 50 22450 
DSC N.T. NX. 22350 22550 22 X 50 37850 
Jan N.T. N.T. 22350 22550 22*80 2 X 050 
Feb *LT. NX. 22 X 50 2 H 50 22850 2)150 
VotemOT 66 * late ot 100 tone. 

Sarran: neuter* and London Petroleum Ex- 
nosoui. 


Kmpgfferag 

CBOT 


BOND 


FUTURES 

FUTURES 

OPTIONS 

Also Futures and 
Futures Options on 
COMEX -GCK-D & SILVER 
IMM -CURRENCIES 


*15 


lOLiNnnfUC 

rMTANP 

(RERMUfT 


’ApptterruUftn trades 
fxtTfdntst raatram per 
calendar moult. Pint JW 
camtrant SJ% maud turn. 

Gatianrufmrpnj/ksstuaals: 

212-221-7138 

ramie CLEKBIHG 

CORPOBJOIOH 

-lUFMteow.NLNVIted 

MMfcrsf 

■vaUcbdeoiISaketXewM 

\ *11 Bdkm r.vaekTiu) (LnU. 


Kaufman Sees Threats to U.S. Credit 


Reuters 

Washington — Henry 

Kaufman, chief economist at Salo- 
mon Brothers Inc., said Wednes- 
day that the integrity of US. credit 
markets was bring, threatened by 
rapidly rising domestic debt, in- 
creased short-term borrowing, de- 
teriorating credit quality and a 
shrinking equity haw 

“The integrity of credit is being 
chipped away by a financial revolu- 
tion," he sjitd in testimony pre- 
pared for a House Energy and 
Commerce subcomnritiee. “we are 
drifting toward a financial system 
in which credit has no guardian." 

Credit markets also are endan- 
gered, Mr. Kaufman said, because 
new marketable instruments have 
yet io be tested by adverse business 
conditions and becausethe finan- 


panis cannot sell off credit obliga- 
tions from their portfolios that are 
unwanted by the market. 

In remarks that repeatedly criti- 
cized proponents of deregulation, 
Mr. Kaufman said a “casino-like 
atmosphere" aisled in the mar- 
kets. and he warned that the risks 
were too great to leave financial 
institutions exposed to the inter- 
play of market forces alone. 

It would be a mistake, he added, 
to believe that financial deregula- 
tion would significantly cut interest 
rates. 

The move to floating-rate fi- 
nancing has led institutions to ex- 
tend credit at a fixed spread above 
the cost of funds, which a thus 
drives interest rates higher than 
would occur in a fixed-interest rate 
setting," Mr. Kaufman said. 


ITT Offering Shares in Abbey Life 


Reuters 

LONDON — Abbey life Group 
PLC said We dnesd ay that its par- 
ent company. FIT Corp, is offer- 
ing 1 35 million new ordinary shares 
ai 180 pence per share, represent- 
ing 48.2 percent of Abbey Life’s 
share ca pi tal 

Following the sale, ITT will re- 
tain a 51.8 percent stake for at least 
one year. Abbey Life’s stock mar- 


ket value at the sale price is £504 
million ($643.4 million). 

Directors expect to recommend 
total dividends of 6.6 pence per 
share in 1 985. The sale is the hugest 
British primary equity issue involv- 
ing a nongovernment entity. Abbey 
JLife said. 

Abbey Life writes life insurance 
and individual pensions business, 
mostly in Britain. 


The economist said that total fi- 
nancial deregulation would lead to 
many institntions bring priced out 
of the market unless they accepted 

a serious squeeze on profit margins. 

New concepts of credit and cred- 
it use, be said, may eventually sup- 
plant monetarism. 

London Exchange 
Balloting Split 

(Continued from Page 7) 
partial victory for Sir Nicholas 
Goodison, chairman of the ex- 
change for the last decade. He has 
campaigned vigorously for the 
changes, arguing that they are nec- 
essary if the exchange is to retain its 
strength and prevent securities 
trading from being conducted out- 
side the stockmarket and. indeed, 
outside London. 

The second resolution fell only 
slightly short of the required 75- 
pereem majority, with 73.6 percent 
in favor. 

Sir Nicholas said Wednesday 
night that results for the firm own- 
ership proposal indicated that 
members realized “the future 
health of the national market in 
securities depends on making 
changes which will retain the bulk 
of securities business in this coun- 
try.” 


Study Cites 
Distortions 

(Continued from Page 7) 

conferences organized by the Unit- 
ed Nations and other international 
organizations.'* 

The professor scorns “the ensu- 
ing pursuit of a ‘new international 
economic order.' " 

The cornerstone of this policy, 
summarized in the 1980 Brandi re- 
port, “was intended to substitute 
international planning and man- 
agement for international goods 
and capital markets." 

Bui the study states that “draw- 
ing up detailed plans is generally a 

waste of resources Even in the 

rapidly growing countries govern- 
ment officials have picked more 
losers than winners when they have 
attempted to intervene across a 
broad range of activities." 

The major criticism is directed at 
"inward-oriented import substitu- 
tion poticies" that "led to exces- 
sively capital-intensive industrial 
development and undue industrial 
diversification." Because this oc- 
curred behind tariff barriers, the 
real resource costs were often total- 
ly obscured. 

The report also says that coun- 
tries with improper policies make 
poor use of foreign capital. 


AUTO CONVERSION 


Mwrad - P oi Niw ^agoOT-aMW 

DOT/EPA 

EuroMon Cor k 

Qot*y S«fvw & 

WtFOBUM 


442 5™*! 
Td: 2014 


AUTO 


. Per* Amboy, NJ CBB61 
. Tie 51 bl 010268 


1-1121 


DOT/EPA CONVSfflOW to US. 

guarmteed. VIA 

Freeport Centre, Bdti- 

mora, M0 71224. Tet 301-6&8611 
Ttu 4995689 VIA US. 


AUTOS TAX FREE 


EXCAUBUR 

IV 


In January 1985, the Exadbur Automo- 
bile Corporoficr bags) buking Euro- 
pean spea&rftan cul o to obfa, 
nvel* fcrtbdr Europecn / Midde Eon 
Detnbutor. 

the tteong C 

autcraoaw, OTtsigameats ore 

wal tn hod for the opening c/ the first 
EXCAUMJt SHOWROOM in Europe. 

The bmBtar is a cnnpletdy hand- 
buir, fo o ted production autoraobfe 
lady 5 par weeej enf has been bjccek- 
tuily nmfodurad for ncr 20 yean. 


A ten day _ 

coopied with , 

odarng t he mod sumptuoia fimhmg 
mater**, oro dd note the Lie after 


stand out Oi the mad photographed 
end envied outo r n nh i r on thi read 
today. 

For more ■ famd on or an minion 
for a penond via Io- our 
SHOWR OOM {opening end W 
cortods 

EXCAUBUR 

lm Aufatdter Ednnteorfl 


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Monte Cddo 
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TAKETWPRORT 

Or your new Brogan odo purchase 

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nSvkhn pudne 


for your in 

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Send for a 


to your 


r o guatotem 

MYCAR 


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(15 mrutes from London Airport) 

fotuicffl 8^71073^2103 

Tbe UK 8813Z71 GECOM5 G 

MYCAR 


TR ASCO 


TOE MBKHJES SPGQAU5TS 
StMtnrtond Wmt Germany & England 

Tat free • IHD - Empoean dehery - 
US ff A/DOT. 

Shfopmg by the experts. 

W STCXX 500 SEA- Mac* Gray, Blue 
380 SEC Bkxi. 53«er 
280 SE7L- Bbck, Blue 

DBECT FROM SOURCE 

Traico London Ltd 
11 Howrxden Hi. London NW2 788. 
Td: 01-208 0007. 

Tdo 8956022 TEAS G. 


1RANSMUNDI BBOUM, 21 Gestd- 
sdxsan, 8224] Zorsd, AnteOTp. Tet 
03^84.1054 Tbr 323d Tram L In 
stoda MercedsL BMW, ASQ 


INTERNATIONAL CLASSIFIED 


(Continued From Back Page) 


AUTOS TAX FREE 


COOPER ST JAMS 

OfHQAL AGENT 
OF BMW (GBJ I3D 

WWe you are n Europe, we can offer 
mmderabie savings on brand new 

BMW ears to biob r perific ni ioai Fu8 

factory worrenfy. 

We can ebo sudv right or kff hand 
drive too free EMm at tourid prias. 
We also supply factory bu* buBet- 
proof BMWs and the Alpina BMW 
rmge tm free. 

(01) 629 6099. 


“TAX FREE” 


19R5 Model* (AI Mdm E^5kxk) 
MS. 500 SH, Bfaek/Tan leather 
M a 500 SI, BWTai learher 
M B. 500 5E WWBIue velour 
M B. 280 SE, White/Btoe velour 
Porsche 944. Ked/Hadt raiaer 
And 50COS. Sher/Gray feather 

Sumied to you by Ihe experts 

GxvefidE orans Tro. 

Tet London Dll 493 4211 
Ik 299824 BANKCO G. 


10 YEARS 

We Defiver Css lo tha World 

TRANSCO 

Koftteig a corttoit stock of more than 
300 band new can, 
rooking 5000 hc^py denis mn year. 
Send for free muiricotDroatoioa. 
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2030 Antwerp. Befoeum 
Tel 323/542 62 4U itr 3S371RAI>6 B 


NEW MERCEDES 

TOKQft for emnedittte deivery 

ROM STOCK 

bcad^-acrenio^ n'jSA**' 

tUTE INC. 

TAUNUSSTR. 52. 6000 RAMTOKT 

W Germ., tel (0569-232351. Ac 41155? 


OCEANWIDE 
MOTORS GmbH 

Since 1972, experienced car trader far 

■ — BL.i fha D**U/ ■ * - 

MUliljQ, fOTHJc, urrtTw, imiXmC 

detvery. h£ service impart /’export. 

US. DOT & BA Shipping for tours 
reel dealer. OceoriwndB Man GnhH, 

Teerxtogenstr. 8. 4 Dueratldorf. W. 

Germany (0) 211-G4646. tk BSB7374. 


BAOPORT TAX 
rm CARS 

Cat) or write for free aridog. 
R at 12011 

“ EPCAK M 


T. 

Telex 


FROM STOCK 
Several 500 5U, 5EQ St. 

500 SL afro ridhf-haid drive JAGUAB, 
FSRAH Mcnfed Convertible, 

930 TUI80 PORSCHE 

^T^ftsT 517 ' 


AUTOS TAX FREE 


BMW 635 Ca rad/btadt, 5 speed, 

BBS wheefotul options. Excdertcon- 

efition Export price SBOOO. New & 

mod other models in Stodc. Orb* 

GMBH, Muendien Tet Cl 89-71 58 
60. TU: 5218230 


NEW PEUGEOT, laid Raver. Range 

S2£' iTOLSSS: 

ontas, zannaoaan IB. Maors&^n- 
broet, Hotad B30445492, 1x47062 


m d 


LEGAL SERVICES 


& fexkw. 1925 Bridtd Av. Mari ft 
33129. let P05] 6439600, tx 441469. 


LOW COST FLIGHTS 


MV OWE WAY $150. Eratyttoy N.Y. 


Wed Coast 


190. 


HCMJDAYS & TRAVEL 


CHARTER A YAOfT M GRffiCt Di- 

rect From owner of largest fleet 
American manogeme nL Excellent 
auautpA. bended. Volef Yarids, 
AUTIwmritokfeous 22C, Pfraet^ 

Graeco. M 4529571. 4529486 Tfo 

212000. USA offices: fir Rood. Am- 

bler, PA 19002. Tet 215 641 U&4 


ANIMALS 


GUARD DOGS - AIL 
Tr c«n«d or prows. Buy without risk 
from a vetenucnm Worldwide detv- 
ery. Col GeraaY (OJ6190-5757 


SERVICES 


YOUNG LADY 

PA/ ire er pr efe r & Tourian Gude 

PARIS 562 0587 


** PARK 553 62 62** 

TOR A REAL VXP. YOUNG LADY 
Ditfinguahecl Began!, MubQnguaL 


YOUNG HJEGANT IM>Y 
PA. PARIS 525 81 01 


W YOUNO IADY GUIDE 
film i8h J, cdtroctn* and Irfinguol 
' travel 


530 02 84 


AMSTBDAM 182197 

TRUSTFUL LADY COMPAMON 
Charming, eduaded, travel 


★ PARIS 527 01 93 * 

YOUNG LADY TCUNGUAl VBM>A 


PARS 704 80 27 
V» PA YOUNG LADY 
Mutfnguol 


PARIS lteOASSGUOeS 224 01 32 

Young lody, sfegant, educated, 
frienav, rwnangict tor days & eve- 
ting B. trtwete m Paris & ojrports. 


BnONAnONAL BEAUTBUH 

■ UMTD. USA & WORL DWIDE. 
2127657793 / 7657794 


SOCEIE DUNE MRS 260 87 43 
Men & wenen guides, security & Tent- 
ing car servtote B am - 12 pm. 


SERVICES 


LONDON LADY COMPANION. A 

1 service for motors to Iordan. 
tel PH B2I 0283 


NEW M PARS - reread i* for young 
PA's. Tet Paris 380 14 S 


7561 


FRANKRIRT. Young lady C MSDU n. 

Engfch. French, German spaten. Free 
to trovaL 009/44 77 75. 


HUMOURT 069/233380. VJLP. 
Young lady, persend asastont / tun- 
preiion. Crettt cards accepted. 


tONDON, BEGANT nxfo+ducated 
French lady aotnaotaon, well traveled 
& veocMe. Tet ffil 0364 IQU. 


NEWYOUC-Yt 


elegart Bteoaan 
aarepanson. (212) 


PAMS NOTE TIBS PHONE AT ONCE 

757 62*8. Trustful VIP. lady, travel 

c o mpneon. 


SWITZBUAM). Young elegant lady 
companion. English + German sod- 
Ian. Free for travel Tet 061/438234. 


MW YORK, YOUNG CARIBBEAN 

asy? 1 "** 1 - - 


747 59 5B TOURST GUIDE, ftri. 
arporis. Young, elegant, attradive, 
educated. 7 am / 12 pm. Inll travel 


SERVICES 


LONDON SOPHISTICATED Germcrv' 

French lody co mpanion. Muhinoupl 
5 entertoiratg. Tet 01-381 6852. 


SMGAPORE Ml GUDB. Col: Sin- 
gopore 734 96 28 


FVB4CH RIVERA. 

co mp a n on 


flBIA. ImerpretB 

TO 61 78 63 


Trawl 


PARK YOUNG LADY 341 31 71. 

VP PA 8. tatnguo) interpreter. 


HONG KONG ... 

Otmnmg ■ etegont 


S 1 L 


723 12 37 


f*ANJCFU0T YOUNG LADY comporv 
wn A trowel gwde. 069 / 6 2 84 3? 


HONG KONG K-671267 VIP lady 
Pnental/Europttrt oampamon. 


TOKYO IADY COMPANION, PA 

Penonol Assistant 03^56-5539 


TOKYO COMPAMON 586 4674: 
TeL now for the best. 


PARS YOUNG SOPHISTICATED VIP 

tody, iritrqunl fiC256 Q59S. 


LONDON EDUCATED IADY Com- 
panion/Giide. Tet 961 0154. 


TOKYO 645 2741. Touring i shop- 
ping gwdes, interpreters, etc 


YOUNG SOM5HCATS LADY for a 
London VIP Tran. 01-630 0757. 


LONDON-YOUNG IRISH LADY PA. 

01-245 9002 days, evenmgi & trovaL 


LONDON 


SOPHISTICATED 
Tel01-S5S 2117. 


LADY 


TOKYO 475 54 80 Young Lady Cbm- 

parvon. 


PARK BLMGUAL ASSISTANT to 
business executives. 500 58 17 


AITBfi. Lady companion and person- 
d assistant. Tet 8U6194. 


Place Your Classified Ad Quickly and Easily 


In the I 

INTKNATIONAL HERALD TRIBUNE 

By Phone: CoB your load RfT representative with your text. You 
wffl be informed of the cart immediately, and once prepayment n 
made your ad will appear wilhin 48 hours. 

Cm*: The borne rotes $980 per Ene per day + toed taxes. There are 

25 fettort, apa and spam m the first fne and 36 ei Ihe (blowing fines. 
Mmimum space • 2 fines. No abbrevkrtiaiB accepted. 

GradR Cited*: American Boren, Diner' « Qib, Eurocard. Mailer 

Card, Acces aid Vita 


HEAD OFFICE 

LATIN AMBUCA 

Bark: {For danrfied ortyt 

Buena* Aka*: 41 40 31 
P«pl.3121 

7*7-4680. 

■MOPE 

COTaeae: 33 14 54 
Gpayaqu9:514505 
lima: 417 852 
l\e He mu 69 05 1 1 

Amderdan; 26-36-15. 

Sen Jose: 22-1055 

Athene 3618397/360-2421. 

Sontiogo. 61 555 

Brareek: 343-1899. 

Saa Ptouie: 852 1893 

Capeahagen: fDI) 329440. 

MIDDIE EAST 

Frankfurt (069) 72-67-55. 

Bahrain: 246303. 

UteeGMOT 29-5094. 

Jordan: 25214. 

Lfebara 67-27-93/66-25*4. 

Kuwait 5614485. 

Lebanon: 341 457/8/9. 

Urodoni pi) 8364802. 

Grace: 416535. 

MnifcM 455-2891/455-3306. 

Swcfi Arabia: 

Jeddah 667-1500. 

Milan; p2) 7531445. 

OJLEs Dubai 224161. 

Norway: (03) 845545. 

Rome: 679-3437. 

FAB EAST 

SwOTfon: (OB) 7569229. 

Bangkok! 39006-57. 

Tel Aviv: 03455 559. 

Manila; 817 07 49. 

Vienna: Contad Frankfort. 

Seoul; 73587 73. 

SJngcjMra: 222-2725. 

IKUIBR STATES 

Taiwan: 752 44 25/9. 

Tokyo: 504-1925. 

Npvr Yorfc (212) 752-3890. 

AUSTRALIA 

WmI Cacafe (41Q 362-8339. 

Melbourne: 690 8233. 


ESCORTS & GUIDES 


INTERNATIONAL 

ESCORT 

SERVICE 

USA A WORLDWIDE 

Head office in New Yort 
330 W. 56th St, N.YJ1 10019 USA 

212-765-7896 

212-765-7754 

MAJOR CREDIT CARDS AM) 
CHEQ<5 ACCEPTED 



* USA A TRANSWORLD 

A-AMBUCAN 

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T-81 3-921-7946 

Cal free from Ui 1-800-237-0893 
Coe tree (ran Ba n da 1-30O-282-0B91 
towel Eastern wkirao s you badd 


CAPRICE 

ESCORT SBEVICE 

IN HEW YORK 
TBL- 212-737 3291. 


LONDON 

BELGRAVIA 

Escort Service. 

T«b 736 5877. 


LONDON 

Portmcn Escort Agency 

67 Oitom Street, 
Leaden WT 

Tab 4 M 3724 or 486 1154 



LONDON 

KENSQNKpTON 

ESCORT SBMCE 

10 KENSINGTON CHURCH 5T, W8 
1HL: 937 9136 OR 9379133 

AB nwfor eeA card* mepted. 


★ LONDON * 

EXECUTIVE ESCORT »VKE 
01-229 2300 or 01-429 4794 


*★ LONDON ★* 

Day/Everitg Ereort Agency 

TEL 724 2972 

ARISTOCATS 

London Ereort Service 

128 Wigraore SL London W.l. 

AB maior Craft Lard: Accepted 

TeL- 437 47 41 / 4742 

12 noon - iwdnight 


London Tops 

HEATHROW/ LONDON 

Ereort Service. Tel: 01-381 1990 

LA VENTURA 

NEW YORK ESCORT SBEVICE 
212-888-1666 

MAYFAIR CLUB 

GUDE SERVICE from Spot 
ROTTERDAM 0) 10-2541 5 S 

TIC HAGUE lOJ TO-60 7* 94 



ESCORTS & GUIDES 


MADRID INT’L 

ESCORT SERVICE 
1EL 2456548. CRH4T CARDS 


ZURICH 

CAROUPE ESCORT SERVICE 
Tet 01/252 61 74 


JASMINE 

AJHS1SUAM ESCORT SBMCE. 
TB-- 020-366655 


ZURJCH-GENEVA 

» ESCORT SaVICE. 

OS 64-022/34 41 86 


IHjOI/; 


ZURICH 


* AMSTERDAM* 

SWEecart Service. 227837 


K1ME OUR EUROPE ESCORT 
&Gudt Sirva.Tet 06/587 2604- 589 
1146 ffrtxn 4 pm to 10 pm) 


OBffA ESCORT SHMQL 
51 Beaud toW p Ptara, London 5W1 
Tet 01 584 6513^49 {4-12 pm) 


RUSS SCANDMAVUL 
C ept Au gen Escort Service 
Tet 61-5417 06. GeA cord* 


GBCVA ESCORT 

SERVICE. Tat 46 II 58 


GBCVA- BEST 
ESCORT SBWKE 
TH: 022/86 15 95 


MILAN ESCORT 

SSMCEi 02/685035 


AMSTBDAM BARBARA 

ESCORT SERVICE. D20-9S4344 


ESCORTS & GUIDES 

GBCVA * BEAUTY* 

ESCORT SERVICE. 

TEL 29 51 30 

HYDE PARK ESCORT SERVICE 
U3ND0N/WATHTOW/GAJWXX 
Tet: 01 890 0373 

VJBMA£5GOKT-AGENCY. 

Tel: 37 52 39 


GBCVA - HBfNE ESCORT SERVICE 
Tab 36 29 32 


MARIA SCHNBDER ESCORT Service 
London 402 4000/402 4008/402 02B2 







VBMAEnaU ESCORT SBVKE. 

Teh 56 78 51 






^^V^-V^ViYnltTa 

r;‘ ' i n'iliiiir iiif^ 





ESCORTS & GUIDES 


lOPBON ZARA ESCORT Service. 
Heedvow/Galwict. Tet 834 7945 


MUNICH WELCOME Bmrt Serto 
Tet 91 B4 59 

«W YOBL SSfi-i Escort Service. 
Teh 712-581-1948. 

STUTTGART BEATRICE Ereort Service. 
Tab 0711 / 262 11 50. 

CHAMBft GBCVA Guide Service. 
Tab 283397 



FRANKFURT POUND ESCORT Sot 
vie*. TeL 069/63 *1 59. 

r 1 iV~USl 

FRaNKPURTJBRIYBCORT + trav- 
el wot Tet 069/5572-10 

HAMBURG ESCORT + GUDE Ser- 
vic*. Tet 040/54 17 42. 


IflWON MAftD ESCORT Savia. 
Trife 01-930 3041. 

I,-". - rffl 

MADRD SOECnONS ESCORT Ser- 
«. Td. 4011507. Cwfit Card* 

MUMCH - BU3NDY R TANJA Ereort 
S*rv«. Tet 311 79 00 or 311 7936 

’=S , «T r “ tl1 * 


WYOTWia ESCORT Set- 
wee-Td .01 2290776 . 

LONDON WCT ESCORT & Guide 
Service. T«fc 01-373 0211 

MUNKH SUPREME E5C0RT Saves, 
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Page 14 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 




PEANUTS 


ACROSS 

■1 Atlas pages 
5 Gideon Fell's 

creator 

S Riposte 

13 Sector 

14 a lime 

15 Golden-rule 
wort) 

17 Mag. 
readership 

18 Tropical vine 

19 One of the 
Baalim 

20 Memorable 
composer- 
bandsman 
from D.C. 

23 Tip-off 

24 Deadlock 

25 Roads scholars 

28 “Serpico" 

- author 

30 Lingerie item 

33 At right 
angles, asea 

34 Henry VIII’s 
last wife 

35 Bridal-shower 
gift 

36 “In a 

song by 20 
Across 

39 Unimproved 

40 Finest 

41 Sound off. in a 
way 

42 Hamilton's bill 

43RuiUish 


44 White poplars 

45 Subject of an 
ode 

tfCatface 

47 Theme for 20 

Across 

53 State in the 
Coro Belt 

54 Give 

(harken) 

55 Aqueduct pest 

57 Ever so long 

58 Laundromat 
fixture 

59 Sette follower 

60 Complication 

61 Tight and split 
athletes 

62 Coarse file 

DOWN 

1 Singer Davis 

2 Droughty 

3 Where to spend 
soles 

4 Men's wear 

5 Garden 
bright ener 

6 Old-womanish 

7 Not illusory 

8 Rajput 
princess 

9 Positively 

10 Bring to 
naught 

11 Pour 

(intensify) 

12 Part of 
N.Y.P.D. 


a/fl/w 


15 Trumpet blast 

21 Varnish 
ingredient 

22 Dogfaces 

25 Assaults 

26 Falstafftan 

27 Where Porto- 
Novo is 

28 Brave and 
resolute 

29 Chichi 

30 Cook on a grill 

31 Ailedge, 

TV bigwig 

32 Incan turf 

34 State's 

Nittany Lions 

35 Tide for 
Caesar 

37 Affixed, as a 
picture 

38 Having 
rounded 
projections 

43 Surpassing: 
Prefix 

44 Dramatis 
personae 

45 Fiat's kin 

46 Glutted 

47 Takeout words 

48 Bedazzled 

49 Make tracks 

50 TV’s Moran 

51 Smidgen 

52 Bonkers 

53 Ending with 


56 



books 


IN THE NAME OF EUGENICS: 
Genetics and the Uses of Human 
Heredity 

By Daniel J. Kevles. 426 pages. S 22.95 . 
Alfred A Knopf, 201 East 40lk Street, 

New York. N. Y. 10022. 

Reviewed by 

Christopher Lehmann-Haupt 

AjASSBig- SS 

one. After all — as Daniel J. Kevles points out 

Greek root meaning “good in birth ennoble 

in he red ity," it came m tune to have extreme!) 

H^SsOfSSSSSffSZ 


JVetc York Tones, edited by Eugene Maieskn. 

DENNIS THE MENACE 



W LLAni/ Ui 117 

/ M\WOt\ 

/ mmon \ „ M \A 

m m\as~ \ , r) ffl j., is 

wHAit /<vr (A /'ij W/ B 

i Wl % i 


#0*- 

REX MORGAN 

with your traveling. weWthiwkihg about it 

OOkfT H /WE MUCH of A PAgLlMO/ m TIM* 

UFE TOGETHER, CLAUDIA 

WE CAN MANAGE S 

THAT WOULD A\AKE If BY THE WAY, 
ME VERY HAPPY t III YOU HAVE AN 
YOU COULD GET A ■ APPOINTMENT 
PART-TIME JOB AT m WITH DR. MORGAN 
THE UKHVERSlTy, 


* Okay, Margaret, la play house. wnH'rou 

'■ IF JOEY CAN BE THE DOG. 1 ' 


GARFIELD 


I THAT SCRAMBLED WORD GAME 
by Henri Arnold and Bob Lee 


Unscramble these lour Jumbles, 
one letter to each square, lo tarn 
lour ordinary words. 


SNAPY 






MYDUP 





RUGLAF 


znz 

33 



KOJECY 


nizc 

JL 


WHAT SHE SAIE? 

ABOUT THAT 
OISAPPOINTIN© 
LETTER CARRIER. 


Now arrange ine circled toners to 
form the surprise answer, as sug- 
gested by the above cartoon. 


- : C X rnTYTTT i 


Vostarday's 


(Answers tomorrow) 

Jumbles: GASSY CLUCK ASTRAY DEVICE 
Answer A glutton often eats more than at other 
times but seldom this— LESS 


WEATHER 


EUROPE 


Bertie 

Brassed 


Budapest 

Copenhagen 

Costa EMI Sal 

Dublin 

Edinburgh 

Florence 

Frankfurt 


HIGH 
C F 
21 70 
29 >4 
20 B2 

■a n 
zs b a 

31 U 
23 73 
2t 79 
23 77 
23 73 
II 


LOW 
C F 
17 &3 

14 S7 
11 64 
17 63 

15 59 


Had M(l 


uu Palmas 

Lisbon 


MOflTkJ 
Ml km 


MMrich 

Nice 

Oslo 

Peril 


Revfcmik 

Ram* 

Stockholm 

Strasbourg 
Venice 
vie duo 


ZarKta 

MIDDLE 


14 57 
13 55 
32 90 

29 54 
25 77 
10 50 
25 77 
27 Bl 
2D 68 
20 68 

24 73 

27 81 
17 69 

28 82 

25 77 

30 68 
» >2 
28 82 
10 SO 
28 82 
16 61 
» 82 
27 81 
29 86 

26 7? 
26 79 

EAST 


73 S5 
13 55 


10 50 
17 63 
T6 61 

14 57 
1 34 

17 63 
If 66 
16 61 

15 59 


20 68 
13 55 
16 61 


17 63 
8 46 

15 59 

18 64 
M 57 

f 48 

16 61 


ASIA 


Bangkok 
Milne 
Hone Kane 
Mamin 
Haw Dow 
Seoul 


Taipei 

Tokyo 

AFRICA 

juniors 

Cairo 

Capo Town 


Harare 


HIGH 

c 
32 

31 

29 

32 
37 

30 
22 

30 

31 
28 


Nairobi 

Tunis 


30 


F 

c 

F 


90 

27 

81 

a 

0B 

16 

61 

a 

84 

25 

77 

a 

90 

24 

75 

cl 

99 

27 

81 

fr 

86 

17 

63 

tr 

72 

18 

44 

o 

■4 

26 

79 

o 

88 

25 

77 

a 

82 

19 

66 

lr 

79 

14 

57 

tr 

91 

19 

66 

lr 

46 

13 

55 

tr 

73 

15 

59 

fr 

64 

6 

43 

fr 

84 

25 

77 

0 

73 

11 

52 

cl 

86 

U 

61 

fr 


LATIN AMERICA 

Boones Aires — — — 

Caracas 27 81 20 

Lima 21 70 14 

Mexico Clhr 26 79 14 

Rio de Janeiro 24 75 18 

NORTH AMERICA 


Anchorage 

Afltetto 


Cble 


23 73 13 S4 Cl 


34 93 
» 7v 
a 79 


16 61 
12 54 
20 68 


Ankara 
Beirut 
Damascus 
Jerusalem 
Tel Aviv 

OCEANIA 

Auckland — — na 

Sydney 17 *3 « 41 d 

d-ckwdv: fo-tocov. !r-falr; Mml: 
Uvshows; sw-snowr; st-wormy. 


Detroit 

Ho nolulu 

Houston 

LM Angeles 

Miami 

Minneapolis 

Montreal 


How York 
San Francisco 
Seattle 
Toronto 
Washington 


a-evorcost; pc -portly 


61 8 
97 a 

63 14 
73 13 
75 10 
68 11 
88 21 
fl J4 
82 15 
93 » 
7TJ 6 
70 II 
18 21 
70 14 
70 15 
63 11 
68 4 

81 19 
cloudy; 


THURSDAY'S FORECAST — CHANNEL: Slightly chOBpy. FRANKpURT; 
Stormy. Temp. W — 13 (75 —551. LONDON: £9*^- 
MADRID; Porflv CtowdY- Temp. 27 — u ‘SlTilfc P noMEM=2r 

Temp. 25— 14 177— S7|. PARIS'. Stormy. Temp, a — 14 (75— 57).ROME. FMr. 
Temp. 29 — 18 184 — 041. TEL AVIV: Fglr. T.nw. 28—13 183— 5SL ZURICT. 
Slormr. Temp. 25- U (77- S21. BANGKOK: 

HONG KOHO: Ctoudv. Temp. 30 - 26 186 — 79). MANILA. Olw. tww. 
33 — 24 i9l — 7S>. SEOUL; Cloudr Temp. 30 — 14 (84 — 611. _ SINGAPORE. 
Stormy Temp 2« — 2? 18* — ill. TOKYO: Fair. Term* 29 — 74 184 — 751. 


Wbrld Stock Markets 


Via Agence France- Presse June 5 

Closing price s in local currencies unless otkennse indicated. 




ran 

■ 

1 m 

JB 



| 1 





ChH 

Pro*. 


ABN 

453 

448 


ACF Holding 

210 

205 

Aeuan 

I94J0 

194 

AKZO 

naio 

09*9 

Ahoia 

228J0 

22750 

AMEV 

349 

24670 

A Dam Rubbor 

B.K) 

610 

Amro Bank 


8150 


20150 

20 



9450 

9350 

CntandHido 

36 

3550 

EKavler.NDU 

12050 

19hJ0 

Fakkor 

125 

f235D 

Gt»l Brocodn 

188 

8650 

HaliKTkcn 

1*920 

*9*0 


6050 

6 


KLM 

42*0 

6150 


4950 

49 

Nat N udder 

67 

6650 

Nadllora 

16350 

164 

OceVonderG 

326 

32650 




PDIIIOi 

5450 

5630 

Robeco 

75.10 

7670 

NoaaniKO 

139.10 

139 

Rollnco 

69 JO 

6620 

Borm Jo 

46.10 

4 


Rural Dutch 

197.40 

19630 

Unilever 

► iM 

■ M.-V/B 

Van Ommoron 

'-B 

|^Jk‘i J 

VMF SlOri 


Hejjl 

VNU 


rjjrrl 





PrarioiH : 212J0 




| j Brnswfa 




KT1 

1775 

Bekaert 

K- '1 

6100 

cocker m 

236 

238 


« - < 

3340 

■EDES 

GB-lnao-BM 


7^ 

GBL 


■ ■ ».> 

Gevavrt 


i® 

HeSsoken 





'*’>*! 

KrcdkriOank 


n>- 




Sac Gmerale 


jii 







Traction Elec 

4105 

it 


5510 



1730 

1725 

VMIIe Montagna 

7000 

7100 

Current Vocfc lode* : 2384.13 


previous ! 3371.17 



If Frankfurt 


AEG-Tetehteken 

137 JO 

127 

Allianz Vers 

1255 



341 

343 

BASF 

22IL50 220.10 


23150 

Z29 


348 

349 


381 

376 


718 71750 

BHF-Bonk 

326 

223 


379 

380 


208 

209 

Cant Gu mint 

14250 14150 

Dounler-Bafiz 

814 

S13 





155 

D«uiuM Bank 

541 

548 

Dresaner Bank 

233 

2 V 

GHH 

1*850 



33150 33850 

Hoctllici 

555 

»5 


Clew Pro*. 


22450 25750 


108 10950 


1B3 

174 


2B7 

284 


33200 

333 

Kail + Safe 

256 

260 

KarslcKS! 

22450 

223 


231 22650 

Kkisduirr H-D 

258 

2 » 




KraupSlahl 

107.10 10750 

Linda 

4*7 




MAN 

156 

160 


172 


Muandi Rmck 

1600 

1530 

Nlsdarf 

59250 

591 

PKI 

601 

601 


1255 

1240 

Praue sos 

277 

772 

PWA 

1*4 144*0 

RWE 

16750 167 JO i 

Rhekimalall 


298 

Scftertnm 

449 47050 


3S4 3S6SD 

Siemens 

56030 56250 


10570 10550 

Vaba 

19050 19610 

Vofcsvs-iCOTwerk 

267 25950 

Walla 

585 

587 

Cmnimrxbaak im 

lax: 433558 

Previous i U94J0 



11 W—gKong j 

Bk East Aslg 

m 

2650 

Chaung Kano 

Hl| 


China Gas 

■rra 

1030 

China Uetil 

11CI 

1610 

Green island 

9JQS 

9.10 

Hang Seng Bonk 

5150 

5350 

Homkrun 

2.15 

230 




HK Realty A 

'ISO 

1140 

HK Hotels 

37 

38 

HK Land 

545 

5.95 

HKSmngBonk 

8.10 

8.16 

HK Tetetexme 

n 

97 

HK Yatwiat®l 

195 

4 

HK Wharf 

660 

635 

Hutch Whamaoo 

25 

K40 

Hyson 

041 

661 

inn City 

ua 

059 

Jardlne 

12 

1130 

JardkieSec 

1250 

1270 

Kftwteon Motor 

9.25 

9.25 

Miramar Hold 

39 

m 

New world 

730 

7.10 

Orient Overseas 

Itm 

2JK 

SHK Props 

1230 

1250 

SKHux 



Swim Pacific A 

2350 

93,50 

Tel Cheung 

1.94 

1.96 

Wah Kwans 

150 

1*6 

WheeteckA 

730 

730 

Wing On Ca 

■VI 

2J5 

Wlnsor 

■)l 


World Infl 

id 

115 

Hena Seng index 

10742 


Previous : 16<US 



1 Jobnmedmf 1 

ACCI 

775 

773 

Jinslo American 

2875 

28/3 

Anglo Am Gold 

17600 

1/700 

Boriows 

1230 

1220 

BlyvMT 

1340 

1340 

Bui (els 

7700 

7850 

Oe Beers 

1070 

1067 

Drietentein 

4950 

*975 

Elands. 

ua 

I7H 

C-FSA 

3*50 

35J5 


Harmony 
HlvaM Steel 
Kloof 
NeObank 
Pros Stem 
Rusrtat 
Sa Brows 
si Helena 
Sosal 

was! Hatdlnv 


Close Prey 

2700 2700 
500 500 

7775 7850 
1350 1360 
5350 5400 
1615 1*50 
785 785 

3625 3600 
693 690 

6300 6400 


Composite Stack Index : 113X48 
Previous : 112938 


AACoTP 
Allled-Lvnns 
Anglo Am Gold 
Ass Bril Foods 
Ass Dairies 
Barclays 
BOSS 
BAT. 

Beechom 

BICC 

BL 

Blue Circle 
BOC Group 
Boots 

Bowater Indus 
BP 

Brit Home St 
Brit Telecam 
Brit _ 

Brltoll 
BTR 
Burmah 
Cable wireless 
Cadtwrv Sctiw 
□osier Cans 
Commercial U 
Cans Gold 

Courtoulds 

Dalaetv 

DeBoers* 

Distillers 

Drlcfantaln 

FIjotb 

Free SI God 

GEC 

Gen Accident 
GKN 
Gtaxa £ 

Grand Met 

GRE 

Guinness 

OUS 

Hanson 

Hawker 

ICI 

imperial Group 
Jaeuar 

Land Securities 
Legal General 
uoyas Bank 


SI AH 514*1. 
202 202 

nsu, SB8U, 
226 Z» 


166 

397 

569 

32S 

386 

230 

34 

533 

311 

IBS 

272 

533 

306 

200 

390 

233 

373 

282 

565 

163 

1W 

2 a 

547 

142 

430 

535 

297 


166 
399 
572 
318 
386 
233 

a 

540 
312 
1B7 
275 
528 
308 
199 
396 
226 
376 
279 
575 
161 
188 
226 
552 
142 
431 
537 
296 

*34*b SJFA 
378 4 366 
5256k 52568 

182 188 


Lucas 

Marks and SB 
Metal Ban l 
M idland Bank 
Nat West Bank 
pwdo 

P irk i noion 
Piessev 
Prudential 
Rocal Elect 
Rand ton Ivin 
Rank 
Reed mu 
Reuters 
Rovoi Outen c 

RTZ 

Soalchi 
Sainuurv 
Sen** Holding:- 
Shell 


603 

m 

133/64 

303 

706 

283 

865 

227 

439 

772 

192 

303 

287 

771 

5B9 

172 

309 

142 

4)0 

359 

672 

366 

791 

142 

69B 

194 

WTVh 

355 
622 
369 


M5 

736 

13 

3 
281 
B65 
230 
435 
772 
195 
288 
287 
726 
594 
173 
311 
M2 
410 
364 
. 674 
363 
300 
152 
708 
198 
599 
358 
677 
347 


45 1/3244 37/64 
589 584 

*M 675 

378 178 

79 «S 

703 *93 


STC 

Sid Chartered 
Sun Alliance 
Tate and Lyle 


Thom EMI 
T.l. Group 
Trafalgar Hse 
THF 
Ultramar 
Unfleverc 
United Biscuits 
Vickers 
wuulworth 

F.T.28 index : 1017.18 
Previous : 1620.20 
F.TAE. M0 Index : 1335J0 
Previous ; 131660 


OOM 

Prtv. 

164 

176 

474 

474 

463 

470 

485 

471 

273 

270 

474 

476 

28* 

288 

277 

380 

139 

139 


226 

11 13/32 

llto 



290 

2S8 

413 

418 


Banca Comm 
centraie 
Cigonoteb 
ored Hal 

ErktankJ 

Farmltalla 

Flat 

Fleshier 

Generali 

IFI 

I (crier moot 1 

noRnablilarl 

MedtoDnuea 

Montedison 

Olivetti 

Pirelli 

RA5 

Rlnascente 

SIP„ 

SME 

sola 

Slanda 

Stef 

MIB Currant led 
Previous : NA 


20050 19450 
3170 3260 
8710 7910 
2210 2149 
lOOOO 9850 
UOOO 13700 
3212 3145 

1*30 1401 


2569 2511 
70000 4BM0 
BIO 7B5 
2170 1106 
Sun. — 
3218 .3169 
ISB90 15KB 
3848 2968 


M 


AlrUautoc 
Alstham An. 

Av Dassault 
Bwiadro 

BlC 

Bongmln 

BooYwes 

BSN-GO 

Carretour 

owrgeurs 

□unwed 

□arty 

Duma* . 

ElfJWul talnc 

Eurtacl 

Gen Eau* 

Hochette 

uafareeCao 

Lesrofm 

Leshwr 

row. 

Mailed 

watrp 

Meriln 

MIcMHn 

Meet Hen ncssy 

Moulinex 

83SS? 

RE&im 


wwpw 

Radio team 

Ikls Rosslgnol 
TohMi*««n._ 

TtwnKon C5F 


% 

’Sro 

SB7 

2078 

m 

•pun 

73B 

620 

541 

1370 

709 

218 

m 

708 

rm 

580 

2395 

680 

2495 

1795 

1964 

2190 

1063 

1998 

9650 

756 

783 

547 

265 

366 

395 

286J0 

1385 

16*5 

718 

1590 

2600 

550 


662 
331 
1510 
6« 
580 
2020 
B60 
2595 
2255 
617 
520 
1430 
707 
220 
Cl 
705 
1980 
579 
2394 
680 
2725 
1770 
1940 
2193 
1050 
2018 
97 JO 
747 
767 
550 
269 
364 
290 
MS 
1380 
1670 
745 
1605 
2615 
»7 


AtxHiiteMxrmja 
prgvi6oS :223JW 
CAC index ■ 
Prrvioo* ; 2JJJ0 


uon of whoEd Sc rex- 

hnosiible pf eufiicmcsi « Kart 

tion ftSJfffiiKirkSi raised ^ a 
^E^rdSasuit-dei 1 W llul<K l va ‘ 

Quaker father so , p along 

cauons he would toj®* insmiet him not fo 

on ny-fishingtrwnps ^ j^^wuhgusia 

<SSSiiSSSt'- M > 

lh dr hioeheimsuj: to be absorbed 

' S? sccr^don.ffld 


0t'l 


•rja 1 



rOliaVCUHiUUlOWVUievii w6»-wv— — - - 

uses to which it was put in Nan Germany, 
which, as Kevks’s history reminds us, werenot 
just isolated aberrations, but the culminatioa 
of ditisL, racist tendencies at wok from me 
late 19th century cm ward. Who m these en- 
{jgh fpmwi times would want to re-mvwe a 
iheory of racial stereotypes, or return to tne 

* ~r •••u^i^eient rwmrtli* uiiiffeg from A 

feedveby 

c enoowuicuu 

And yeL as ICevks’ seamless narrative pro- 
ceeds io show, we may now be back at the 
point where we started, except that our lan- 
guage is a good deal fancier — ; instead of 
“eugenics" we have “generic engineering — 
and our methods are vastly more sophisticated 

from simple sterilization we have come to 

amniocentesis and abortion, with recombinant 
DNA techniq ues not too far down the road. 

And if any readers think that the issues are 
dearer now. let them argue with the French 
geneticist Jfcrdme Lejeune. who deplores me 
practice of aborting victims of Down s syn- 
drome, and says that he looks forward to the 
day when a mongolian idiot, treated biochemi- 
cally, becomes a successful genetirisL" 

How we got from there to here is a river ot 
historical narrative that flows straight and 
smooth in Kevles's study of the past lOOyears 
or sa and is given particular continuity by his 
use of the past tense even when he is writing 
about events that seemed to have haoDened 
only yesterday. Yet the landsca 
whu& he takes us achieves extraor 

There are the many striking personalities 
who have been attracted to the study of hered- 
ity during its con traversal development — 
people like Francis Gallon, the Victorian sa- 
eniist who coined the word eugenics and 
founded the faith in its promise for the perfec- 

SoJution to Previous Puzzle 
IhIoIrIdIeBaIj Ia[rMtiair|sI 


nconm aano snna 
□edeh □□□□ aaQE 
EBOBaaaaQQ aasa 
aoiaa aaaacia 
EEanao 

BDiia aania □□(Das 
EDanaEn Qaanaao 
□□□□□ anaa aasca 


van- 


JDCIHIMII ~ 

eiry, the P)' ocess r ,^ > r ^2! '!£ mi’ 4S.chroff»- 
ST^oddng more «Hnpl.MIBl te 

SaSsa!??tS2S 

tntions to advance the view instead that eli- 
tes involved not only sdmtific ratioiudratgg 
of class and race prtaudice but a good dal 
including disputes over how men and, 

womenT ilr modern cra v^m 

^rommodate to changing standards of sexual 
aiD K.evi»w^t«ich« history at ihe CaliJPima 

learned from the subject of hus 
“The Physicists: The History, of aSootpfic . 
Community in Modern .\mcrica, which wtm 
the National Historical Society Pnzc m 1979. 
Physicists were not prepared to face the issues 
of Mdear energy that suddenly enrooted 
them in 1945, and geneuosts are no b«W 
prepared for the coming revolution m thar 
field, e\ , en though it may be comparable m 
magnitude and more imminent than they now 
have reason to expect. 

This assessment effectively dampens any 
sense of wonder we might feel at the prospects 
for the future outlined in this histoty. The 
genetic design of a human perhaps wittan a 
hundred years? Gene therapy for people by the 
end of the century? The right to abort a victim 
of Tay-Sachs disrase tomorrow? After reading 
“In the Name of Eugenics.** we don i know 
..AuLv in oacn in 9WC iTT eulo in terror. 




Christopher Lehnann-Uaupt ism the staff af 
lew York 


The New 


Tones. 



B/6/85 


Letters by Dr. Boswell Fonnd 

The Assoriaied Press 

CANBERRA — A researcher cataloging - 
rare books after afire at the National Library Lr 
says she has discovered two letters by the 18 th- vl 
century author Dr. Samuel Johnson and his : 
biographer. James BoswdL They were pasted “ 
into one volume of a First editjon ot Boswell’s 
“The Life of Samud Johnson." published in - 
Londonin 1791. 


t ■ % 

r.,; 


BRIDGE 


By Alan Truscocr 

O N .the diagramed deal. 
South landed in four 
spades and would have been 
defeated if West had led bis 
singleton club. But West, not 
unnaturally, wanted to weaken 
the declarer's trumps and led a 
bean East took me ace and 
returned the suit to remove the 
declarer’s king. 

Drawing trumps would have 
been fatal, but South avoided 
that trap. The bidding strongly 


indicated that there were a 
large number of hearts and 
dubs on his right. 90 he drew 
just one round of trumps and 
led the dub queen. When this 
was allowed to win be played 
three diamond winners fol- 
lowed by a low chib. This was 
the key to success, for the de- 
fense was limited to the dub 
ace and one trump trick. 

This was worth 10 points to 
North-South, for in tne replay 
North played five diamonds 
and was defeated by the club 
ruff. 


NORTH (D) 

O 5 

O A K Q 10 7 3 

*QJ4 

WEST EAST 

Ill 

<*« ♦ A 108 32 

SOUTH 
* AQ 106 
S7KJ 
0989 
41 K 87 5 

Neither side was vulnerable. TDa 



bidding; 

North East 

Soma 

flit 


J <■ 

1 * 

1 to 

29 


3 4 

4 ♦ 

4 to 

PM 

T- 

Pass Pass 







Wok tod the boon three. 


Clew Fro». 

1 Sfasgapwrc 1 

Cold Storage 

DBS 

•JS 

2*8 

615 


535 

525 


2J7 

235 


2*2 

2*3 


620 

620 

OCBC 

935 

920 


128 

228. 

OUE 

235 

N.O. 

ShangrUa 

NA 

— 


2J3 

253 


258 

257 

Steare Press 

615 

615 


LIT 

1.10 


4*0 

4*2 

United Overseas 

2JW 

2 

UOB 

434 

433 

Straits Times lad index: 81252 

Previous : 809.13 



1 St*e*h*mt II 

AGA 

NO. 




174 

176 


336 

337 

Astra 

425 

430 





190 

NA 

Electrohn 

267 

271 

Ericsson 

300 

301 

Esselle 

NjQ. 

— 

Handelstxxikai 


143 

Pharmacia 

187 

186 

Scab-Scan io 

380 

400 

Sandvlli 

368 

363 

Skanska 

08 

sa 

SICF 

204 

203 

5i«edlshA6atcti 

200 

199 

Volvo 

NA 

218 

AffaeravaerMen Index : 368.10 

Pravioas : 3684M 



1 Siye tgey 1: 

AC! 

2*0 

255 

ANZ 

4*0 

4*3 

BHP 

610 

678 



1W 


253 

2.15 

Castiem Tootievs 

610 

632 

Coles 

165 

172 


2 

258 

CRA 

6_0fl 

620 

CSR 

2J0 

171 


ssn 


EkWro Ixl 

255 

292 

ICI Australia 

1.92 

1.98 

MagellKi 

130 

» 

MIM 

255 

293 

Mver 

1.91 

1.94 


434 

436 


7*0 

7 JO 

N Broken Hill 

228 

7*0 


365 

410 

(H^ensland Coal 

153 

1*4 


5L62 

528 


1.94 

1.92 

western Minina 

3JU 

198 


450 

430 

WaodsWe 

L56 

150 

AOOrdhwrtas Hdex :8068 

Previens ; 872J* 



1 T< *y° \ 


396 

390 


1090 

ion 


875 

880 


834 

819 


522 

£20 








4» 


D«ri Nionan Prim 



Daluro hcu.<W 






rrmuf 







Full Bonk 

1600 

1560 


1730 

1/30 


W10 

1030 

Hitachi 

730 

718 


666 

4*1 


1290 

1280 

Jason Air Lines 

7100 

230 

18 


1830 

1840 


144 

145 

Kirin Bravery 

730 

772 


451 

450 


326 

329 


4480 

B » 7 <| 


1430 

■ ' I 

Matsu Elec Works 

VIS 

IPJ 

Mitsubishi Bank 

1540 

Mitsubishi Cham 

531 

529 

MHsuWshlEtec 

371 

372 

Mihflsfcjhl Heavy 

293 

2VU 

MltsubtoMCara 

4611 

434 


363 


MitsukosW 

590 

608 

Mllsuml 

NA 

BIO 

NEC 

WOO 

1030 


812 

815 

NHtka Sec 

732 

m 


1250 

1230 

Nippon Oil 

843 

850 


1S1 

MS 

Nippon Yusan 

296 

383 


4HJ 



1120 

U40 


1160 


Pienaar 

1750 



909 



099 

809 


710 

AX3 


365 

835 


3900 

4000 


1850 

1810 

Sumieomo Cham 

263 

254 




SumUotiae Matol 

149 

147 


2SB 



SZ7 

517 


8/U 

H/a 

TDK 

t, J 


Tell In 


EJ 





070 

B38 


469 

4/6 


360 

355 


1300 

1200 

Yamoldil Sec 

7S8 

745 

Nikkei/ D-L index : 

1269321 

Prevkxn ; CSB131 
Haw Index: NM57 



Piayhms : 991.17 



II 1 

Adki 

3170 

3185 


795 

M3 


5400 

5300 

Bank Leu 

STtt 

3800 


1685 

1680 


3225 

3220 

Crodit Suttee 

3K75 

M05 


7/80 

2780 


853 

850 

HoWi.ba* 

m 

790 


2090 

2T2D 


6060 

£000 


3775 

2250 


1730 

1740 


4650 

4675 

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6300 

6315 


1460 

UW 


9175 

9075 


14110 

1390 


4375 

4375 


398 

395 


407 

406 


WO 

3910 


1200 

1185 


1900 12000 

SnHsa Votksbank 

1650 

1600 

Union Bank 

3920 

3900 

Wimerttuir 

5100 

5160 

Zurich ms 

2170 

2180 

SBC Index : 463*0 
Previous : 462.10 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985 


Page 15 


SPORTS 


Berttoux, 61 , Resigns as Director of IOC 


Compiled by Ovr Staff from DUpeteha 

BERLIN — Monique Beriknn, the most 
powerful woman in world sport, on Wednes- 
day announced her resignation as director of 
(he International Olympic Committee. 

Her departure from the post she has held 
since V971 had been expected after days of 
behind-the-scenes battles with the commit- 
tee's executive board before and daring the 
IOC’s 90th session, being held in Berlin's 
eastern sector. 

The 61 -year-old Frenchwoman took only 
five minutes to announce at a press-confer- 
ence the end of her 18-year link with die 
Olympic movement Berlioux, who joined the 
IOC as director of press and public relations 
in 1967, said she would remain until Friday's 
close of the current session. 

She would not comment on the terms for 
severing her contract, doe to expire Dec. 31, 
1988, but the compensation could.be as high 
as SI million, according to an IOC source. 
Berlioux, a farmer journalist and Olympic 
swimmer, will receive her salary of 

400.000 Swiss francs (about $133,000) until 
the expiration date of her contract; addition- 
al sums are being negotiated. 

Berlioux. read a message she had presented 
to the IOC membership. It said, in part 

“For many years, I have devoted myself to 
the service of sport and in particular to the 
Olympic movement — as an athlete, as an 
official, as your main assistant, as director of 
the IOC.... 

“Of course, I sometimes found mysdf in 
disagreement with some of you cm particular 
issues. This is only natural in an organization 
like ours, con taining so many strong and 
varied personalities. My only rule of conduct 
has always been the- superior interest of the 
movement and its ideals. 

“As time went on. the differences with the 
executive board led me — like a journalist 
invoking his conscience— to deride to pot an 
end to my functions. as director.... 

“1 thank you for the confidence you have 
placed in me and for your help, which have 


enabled me to develop an administration 1 
believe to be efficient and healthy. I shall 
always be proud of the level it has readied. I 
shall say no more. A director has moved on. 
Long live Olympism, as its founder, my fef- 
. low countryman Pierre de Coubertin, would 
have wanted.” 

There had been several previous at 
to ottst.Berikwx from her post, in which 
ins saved with Presidents Avery Brundage 
of the United States. Lord KiDanm of Ireland 
and Spaniard Juan Antonio Samaranch 

But over the years, her infl ue n ce grew 
steadily; she currently heads a 90-ffiember 
staff for IOC administration. Berlioux has 
been a driving force and top planner of all 
Olympic Games since 1972, and played a key 
role in preparations for the 1988 Games. She 
also provided the IOC with continuity, since 
executive board members have fixed terms 
and the presidency is voted upon every right 
years. 

When Samaranch took command in 1980, 
be became the first full-time president, living 
in Lausanne, the Swiss base of the IOC 
(Brundage and Lord Killanin had carried out 
their functions from a distance). 

Samaranch’s style of running the IOC dif- 
fered marke dly from that of his predecessors, 
and brought him into repeated conflict with 
Berlioux. The prime mover in the decision to 
fire Berlioox, Samaranch has made qo state- 
ment on her resignation. 

The beginning of the end caw Saturday, 
the first major rift appearing during an ex- 
change between Berlioux and the IOCs 
sports director, Walther Troger. Samaranch 
then designated three of his executive beard 
members — BerthoW Bestz of West Germa- 
ny, Belgium’s Prince Alexandre de M erode 
and Kbeba Mbaye of Senegal — to present 
her with an ultimatum. Thereafter, only the 
terms had to be soiled. 

Ber hoax’s departure ri gn»k a major up- 
heaval in the administrative structure of the 
IOC Envisioned is the appointment of a 
secretary-general and four department direc- 
tors, but Samaranch will be in control. 



Monique Berlioux 


Speaking privately to reporters just after 
the news conference, Berlioux said she in- 
tends to write her memoirs, adding; “You 
will still be bearing a lot from me” 

The mayor of Paris, Jacques Chirac, is said 
to be ready to ask Berlioux to head the drive 
to get Paris the 1992 Summer Olympic 
Games. Chirac had a long private talk with 
her Sunday, following his formal presenta- 
tion of the Paris Olympic application to the 
executive board. (UP I, AP) 


Connors, Lendl Breeze Into Semis 


Compiled by (for Staff From Duparthct 

PARIS — Jimmy Connors, de- 
layed slightly by a thunderstorm, 
stopped Sweden’s Stefan Edberg in 
straight sets Wednesday to reach 
the semifinals of the French Open 
tennis championships. 

The Amencan lat-hander, seed- 
ed third in the year's first grand- 
slam tournament, etimmatea the 
19-year-old Edberg. £4. 6-3. 7-6 (7- 

Connors will face defending 
champion Ivan T <*nrfl of Czecho- 
slovakia in Friday’s s emifinals . 
Lendl romped into the next round 

FRENCH OPEN TENNIS 

with a 6-4, 6-2, 6-4 triumph over 
unseeded Martin Jaite of Argenti- 
na. 

In the women’s semifinals on 
Thursday, top-seeded Martina 
Navratilova will meet West Ger- 
man flanttia Khode-Kflsch, seeded 
seventh, while No. 2 Chris Evert 
Lloyd wiD play 14th-seeded Ga- 
brida Sabatmi of Argentina. 

The 32-year-old Connors and 
Edberg were tied, 5-5, in the thud 
set when play was baited by rain. 
The match was held up for 55 min- 
utes, and after the two players re- 
turned to the slow, red day courts 
of Roland Garros Stadium, each 
held serve to go into a tiebreaker, 
which Connors won, 7-2. 

With the storm douds gathering, 
Connors could have finished the 
match early. He had four break 
points with the score at 4-4. But 
Edberg. the No. 14 seed, fired an 
ace to pull hhnerff out of trouble 
and hold serve. 

Connors, aiming for a fourth 
semifinal appearance in a tourna- 
ment he has never won. was giving 
away 13 years to the Swede, who 


Gooden Outdiiels Valenzuela as Mets Beat Dodgers 


Compiled by Ovr Staff From Dispatdm 

< LOS ANGELES — For once the 
hype was right Dwight Gooden 
and Fernando Valenzuela, two of 
baseball's master pitchers, hooked 

BASEBAIX ROUNDUP 

up for the second time in 11 days 
here Tuesday night, and Gooden 
avenged a loss to Valenzuela by 
hurling an eight-hitter, striking out 


12 and contributing three hits to 
New York’s 4-1 victory over the 
Dodgers. 

“Dwight is rmr security blanket” 
said New York Manager Davey 
Johnson. “1 used to get goose- 
bumps watching him pitch — now! 
just enjoy it When I saw him at 17. 
1 said he was the best I’d seen. I 
guess that turned out right” 

Redeeming a 6-2 loss in New 
York to Valenzuela on May 25, 


Gooden was at his best in the 
eighth inning when, with the score 
tied 1-1, he pitched out of a bases- 
I oaded, no-out hole. “I knew I had 
to go for strikeouts,” said Gooden, 
20, who extended his National 
League-leading strikeout total to 
101. “In those situations, that’s 
when you become a pitcher. I tried 
to put more on my fastball and get 
it up.” 

Los Angeles filled the bases 


when Steve Sax and Ken Lan- 
dreaux singled and center Odder 
Mookie Wilson’s relay was wild, 
moving Sax to thud and Landreaux 
to second. Pedro Guerrero, who 
had earlier hit a home run, was 
walked intentionally. But Gooden 
then strode out Greg Brock, got 
Mike Sciosda on a pop foul mid 
struck out Terry Whitfield. 

Faced with the same situation In 
the ninth, Valenzuela gattv up 


The Czech said the quarterfinal 
was “not an easy match,” but add- 


SCOREBOARD 



Baseball 


short Keith Hernandez and Gary 
Carter had inning-opening singles 
and George Foster walked to load 
the bases. Valenzuela got Ray 
Knight to hit a comebacker, which 
the Dodger left-hander turned into 
a force play at the plate. But be 
then yielded a sacrifice fly by Dan- 
ny Heep and ron-sooring singles by 
Rafael Santana and Gooden. 

Cubs 5, Braves 3: In Chicago, 

Jody Davis’s two-out single broke a 
3-3 tie in the sixth and the Cubs 
went on to down Atlanta. 

Giants 5, Expos 1: In San Fran- 

Tuesday’s Line Scores 

struck out a season-high seven in 
his first complete game of the year 
as the Giants downed Montreal 
Reds 9, Pirates 3: In Cincinnati. 

Dave Concepcion's RBI single trig- 
gered a six-run seventh that 
powered the Reds to their third 
straight victoty (in that span, they 
have totaled 26 runs). 

Canfinals 6, Astros 1: In Sl 
L oads, rookie Vince Coleman had 
four hits, scored four runs and stole 
three bases to support the four-hit 
pitching of Joaquin Andujar and 
put the Cardinals past Houston. 

Coleman has 39 stolen bases in 40 
games. And ajar has won six 
straight derisions. 

Padres 6, PMEes 5 : In San Die- 
go, Kevin McReynoIds’s two-out, 
two- run triple in the ninth lifted the 
Padres past Philadelphia in a game 
marred by a bench-clearing brawL 
The Padres took a 4-3 lead in the 
sixth off starter John Denny. With 
men cm second and third, Tim 
Flannery — who earlier in the 
game had been hit on the batting 
helmet by a Denny pitch — lined a 
single to left field to score both 
runners. The ball got by left fielder 
Jeff Stone for a two-base error and 
', sliding into third, pound- 


has won cue of their three career ed that he has felt fit all lourna- 
meetings. mem. “I still fdt good out there, 

Connors took the first set by and [in the third set} 1 started fed- 
breaking Edberg’s serve at 5-4. He ing 1 was getting my second wind.” 
broke again in the seventh and Jaite, who conceded that he sur- 
ninth ga me s of the second set. prised himself by maki ng it to the 

But m the third set, it was Edberg quarterfinals, said that “all match 
who powered to a 3-0 lead. Then long Lendl showed why he is 
Connors, producing some of his No. 2” in the world, 
best tennis of the tournament, bat- »i , nnc ^hi t . w,,. 

Ue Afr&ConrS?£ Ms chamce to he won 211 thc important points," 

ssTjresswsss * 

had served to level the set once 
again, the umpire haltedpiay. 

“Rain delays are difficult, but 
today worked for ore.” said Con- 
nors. “I kin da didn’t fed like com- 
ing back and playing, but 1 won the 
match.” 

Connors, who still hopes to be- 
come the first American man to 
win herein 30 years — since Tony 
Trabert in 1955 — has hinted 
broadly that this may be Ins last 
time on French clay, even though 
it’s the only grand slam event to 
have doded farm. 

Although not playing up to his 
usual form, the 25-year-old Lendl, 
seeded second here, had too much 
power for the South American. 

Jaite produced some spectacular 
moments with his aggressive style, 
occasionally winning points with 
improvized shots at the net 

Bui after staying even with Lendl 
through the match’s first eight 
games, he won only two of the next 
13 game* u> trail by two sets and 0- 
3 in the third. 

Jaite broke Lendl’s sendee twice 
in the third set, but dropped his 
own. 

Then, with the set even at 4-4, 

Lendl rediscovered bis booming 
serve and took the ninth game be- 
fore Jaite crumbled in a disastrous 
10th to lose the match. Lendl 
nhang pri his racket for the final 
game, but be hardly needed it as 
Jaite produced a series of errors to 
surrender without winning a point. 

Lendl said his serve “faded away 
in the third set a little, bat it pulled 
me out of every kind of trouble in 
the first two.” 


who won his first grand prix tour- 
nament in February in Buenos 
Aires, is a member of Argentina’s 
Davis Cup team. 

Friday's other semifinal will 
match top-seeded John McEnroe 
against Sweden’s Mats W dander, 
the No. 4 seed. 

McEnroe took a tough, five-set 
victory over Sweden's Joakim Nys- 
irom. 6-7. 6-2. 6-2, 3-6, 7-5, on 
Tuesday, while Wilander eliminai- 
.ed upstart Leconte of France, 6-4, 
7-6, 6-7. 7-5. (AP. UP!) 



Kamil 


Defending titiist Ivan Lendl, en route to a semifinal berth. 


Football 


United Slates Football League Leaders 


AMERICAN LEAGUE 

m mi oiB-a < a 

Toronto . NS 306 24x— » 14 0 

VMa, Davis (71. WNIehouM C71. Eufemto 
ttl and Laudner. Sotos (ft); Over, Lovntle 
(9) and Martinaz. W— Clancy. VL L— viola «- 
& HRs— Minnesota Salas 12). Toronto, uo- 
Nww Ml. Marl Inez (3), Bell (101. 

Clevatond MS (OB DM— • 7 I 

Boston Ml Ml **— 5 11 ■ 

Croat Thomason (ft). Easterly (7) and Wil- 
lard; Olada, Crawford (ft) andGcOravN— 
Otodo.3-1. L— CreetIM. HR— Boston. Evans 
(5). 

MltwaafeM BIO M2 BOB— 3 1ft 0 

Kansas Oly 0B2 B20 Mx— 4 ft ft 

vuckovidkCocmower (61 and Moore; Lei- 


■ASTERN CONFERENCE 
Tftom Offense 

Yards Rush Pass 
Tampa Bav SfiM 1736 397B 

Nsw Jersey 5152 8211 1W 

Blrmlnohom 5038 2147 2871 

Mamphis <990 206 2856 

Baltimore 4811 1913 2898 

Jacksonville 4649 1730 2919 

Orlando 3787 1525 2262 

Team Defense 

Bir mi ngh am 408 1SJ2 2526 

Memphis 4405 17M 2697 

Baltimore 4474 1774 2698 

Tampa Bay 4799 1915 2S74 

New Jersey 4877 1668 3209 

Jacksonville 4991 1968 3023 


R. Brown. Ariz 
Jordan, Port 

J. Williams. Oak 
Gray. la. 
works. SA. 

K. Warren. LA. 
V. williams. Port 


Johnson. How 
L Harris. Den 
Verdin, hou 
A Carter, Oak 
Lewis, Den 
WMlAOen 
Banks. Oak 
McNeil, Haw 


184 BSD L8 44 
129 70S 54 41 
149 640 4J 26 
121 500 4.1 36 

83 402 45 30 
B3 379 Aft 20 
86 342 42 17 

Receivers 

No Yds Ava Lb TO 
88 1164 132 52 13 

84 1048 125 44 7 
76 906 11.9 74 B 
42 1138 182 62 12 
57 842 15.1 30 6 
55 166 111 49 5 
S3 973 184 66 5 
49 


brandt, LaCaos (61 and Sunctoorg. w— Lei- 

Orlando 

5617 2702 

2915 

Harrell, Hou 

46 448 97 55 

2 

brandt. M. l— V ockavlch, 1-3. Sv— LaCoas 


Oovtortedu 



leiercnrtkws 



(1). 


AH Com Yds 

TD Int 


no yd* 

to 

Id 

Oakland OH 110 0M-9 7 8 

Lewis, Menu* 

173 92 1488 

15 

5 

Bradley, Hou 

10 98 

19 

0 

New York 8MBMM0-0 4 8 

StoudL Blrm 

382 229 2921 

30 

14 

Minor, &a 

8119 

34 


Blrtsas, Atherton (7), Howell (9) and Tettte- 

Fusina Be« 

407 244 2BS3 

14 

13 

Miller, Port 

6 75 

33 

0 

ton: Cowfev, Shirley (5).Bardl (6) and Wvne- 

Reaves, Ti. 

469 262 3650 

21 

23 

Portillo. LA 

« 67 

23 

0 

oar. W— BJrtso*. 2-1 . L— Cowley, 4-X Sv— How- 

KHlev, Memo 

206 127 1692 

6 

13 

Martin, Ook 

6 41 

16 

0 

•U mt. HR— Ooktand. Kinsmen (13>. 

Luther, Jock 

295 1781968 

11 

17 

Roouemore. Hou 

5 91 

45 

D 

CbtoaBO M 881 118-3 4 1 

Hutto. NJ. 

281 134 2109 

13 

14 

Trlmbto, Den 

5 4T 

22 

0 

Ttocas 4M MB 3tx— 7 8 2 

Collier, Orf 

332 175 2056 

10 

15 

McKaever. Oak 

4 62 

22 

0 

Soover. Nefeon (7). Lot lor (7) and FUc; 


Rashers 



Miller, Den 

4 39 

29 

0 


Philadelphia Manager John Fdske and Del Unser, one of his coaches, tried to break up a brawl Tuesday in San Diego by ed the base and shouted over at 
kw-bridging Phfflie pitcher John Denny. Denny and the Padres’ Ton Flannery started lighting, and both benches emptied. Denny: 


Celtic Coach Jones Crying 'Foul 9 Into Crying Towel 


By Ken Denlinger 

Washington Rost Sorrier 

INGLEWOOD, California — 
The coach known as K.C. Quiet has 
been anything but during the last 
72 hours. Turn a microphone and 
Cncia his way, flick on tire lights 
and from (he mildest of men 
comes: “How the Lakers rod! 
physical is D-l-R-T-Y” ’ 

The Boston Critic coach, K.C. 
Jones, goes on: “Quinn Buckner 
was taking a charge [Late in Sun- 
day’s Game 3 of th&Natioi 
keibafl Association 
series] and he 
head by Lariy I 
“On the films, I also saw a Laker 
sneaker kick at the face of Danny 
[Aingel when he was on the floor 
with Kurt Rambas. That’s not bas- 
ketball 7 
Am 
geles, 

nesday’s Game 4? “We might 
well pock our bags and go home.” 

■ g Jones, (me of basketball’s true 
scrappers, has slipped out of the 
privacy he cherishes because he 
hopes it will help his team stagger 
off the rapes against the formerly 
languid Lakers. 

The Critics' crying foul is dose 
to ludicrous. No team in NBA his- 
tory has placed elbows harder or 
more deftly in opponents’ ribs than 
the Celtics; or thrown harder hips 
or thrived more on intimidation. - 
All of a sudden, Jones is trying to 
splash quick-drying whitewash on 
a familiar portrait and repaint the 
ekics as maimed cherubs. 

Tie was in midsermon near noon 
Tuesday, talking forcefully but not 
loudly to a group of reporters. 
Could it be. one wondered, that the 
media has hyped the ugliness of die 
■series beyond reality?. 

It could noL Tire Lakers are 


playing dirty basketball, Jones re- 
peated. 

If the officials for Game 4 can- 
not read, he was hoping they at 
least could hear — ana benefit 
from his generous counsel. 

Although it is most unusual for 
him, Jones is all but reading from 
the standard * 

tbe; 

ing l 

posed to fire sway with his mout 
Boston’s Lany Bird, hampered 


by James Worthy, 
of his last 42 shots. 

Even worse, Dennis Johnson is 
9-for-32 in the last two games. And 
Danny Amge was two-for^aght 
Sunday, .so uncertain so often that 
Earvin Johnson could leave him 



In public, Jones rants. In private, 
he seethes. 

“He was almost too quiet” as the 
team watched films of Sunday’s 25- 
point Los Angeles victory, Buckner 
said. “He’s totally upset now. His 
silence says more than if he’d jump 
up and down and beat on some- 
thing.” 

During an extraordinary career 
that included two NCAA titles, an 
Olympic gold medal and several 
NBA championships, Jones has 


after alL More subtly, their input 
gives him one more motivational 
toed. . 

During the regular season. Ce- 
dric Maxwell retails, ‘There was a 
two-game stretch when Larry made 


K.G did. He feels if there’s abetter 
way than his, do it.” 

Bird is more expansive: “In a 
game against Portland, I was com- 
ing down cram, one-on- three. K.C. 
was hollering: *Sel up, set up.’ I 
knew I had to shoot to make him 
mad.” 

Dumb as it seemed. Bird sensed 
that a daring basket was the sort of 
shot the team needed just then. He 
sighted on the run and pulled the 
trigger, braying tire shot. “I didn’t 
l said. “I just turned 
to him and said: Too late. 

, He didn't 
say anything. He didn’t say that I 
embarrassed him or tried to show 
him up or anything like that 

“Tve never had a coach like K.C. 
With all the championships he's 
won as a player and a coach, it 


“That one’s for you.” 

“He asked what 1 said and I told 
him again,” Flannery said. The two 
west for each other, and both 
benches emptied- Denny and team- 
mate Kevin Gross, who tackled 
Flannery during the melee, were 
gected. 

Marinos 7, Tigers 6: In the 
American League, in Detroit. Phil 
Bradley put Willie Hernandez’s 
IZib-moing 1-0 fastball into the 
upper deck in left field to give Seat- 
tle its victory. 

Bine Jays 9, Twins 2: In Toronto, 
WOIie Upshaw’s two-run homer 
highlighted a three-run fourth that 
propelled the Blue Jays to their 
11 th victory in 13 games. Minneso- 
ta has lost 1 1 of its last 12. 

Red Sox 5, Indians 0: In Boston, 
Bob Ojeda (who was m a kin g his 
second start after 17 relief appear- 
ances) and Steve Crawford com- 
bined an a seven-hitter that shut 
down Cleveland. 

Royals 4, Brewers 3: In Kansas 
City, Missouri, Willie Wilson and 
George Bren drove in two runs 


Hough and SlaugM. W-Stauott, 54. L— 
Scow, 5-4. HR— CMcaga Hairston (2). 
Svtotfe U8 838 8M 881—7 8 1 

De*n>H 036 M3 IN MR— 4 7 1 

MoorekBaroias(2),VDnde Berg (3), Stanton 
(6). Nunn (9), RThoroas (II ). Young (12) and 
Kearoov; Bow. Lopez (5). Henwndaz (■>. 
Sdwrer (12) and Parrish. W—R-Thama&l-Q. 
I— Hernandez, 4-2. Sv— ' Young (1). HRs— So- 
attfe, Bradley (91. Dotnrit, Gibson (V). 

4M •« no mb on— i 11 1 

012 (00 HI Soft BOB— £ 16 1 
Romanic*. Corbett (6), dements (7), Cft- 
burn (101 and Boone: Dav1s.Aooa (71. SleMort 
no), TMartitm (14), Dixon (15) and Demp- 
sey. Ravtard 02). W— album, 2-1. L—Olxon. 
4-3L 

NATIONAL LEAGUE 
Montreal 108 SOB 080— t 4 1 

SOB Francisco MB 821 MX— 5 7 1 

Schafzeder. Burke m ml Butnra. Fitzger- 
ald (7), Nicosia (7): Gott and Trevino. re- 
Galt. 3-2. L— Schatzodor. VL 
Atlanta 380 (00 000—3 S 1 

Chicago 811 Ml 81*~S 18 8 

Mcfttfer, Como (71 and Cerone; RhIDvds 
S mith (8) and Davis. W-Ruttiven. 2-4. L— 
Mahler. Sv— Smith (131. HRs-AHonta, 

Washington (6). CMcaaa Moreland (4), Coy 
(IB). 

PtHshurWi 8M M2 BM-8 7 1 

Ooatoaafl SIS BBT 6IX-9 15 ■ 

Whm. Guanto (7>, Holland (71, Candelaria 
17). KrawczYk (8) and Pena: Soto. Power (8) 
and Knfeolv. Van Gorder (8). W— Solo. A3. L— 
Guanto. T-L HRs— Plttsouroft, Hendrick (2). 
Clndnnart, KrvnchicfcJ (1). Radas (6). 
Houston DM 1M 8M-1 4 8 

SL Leals 120 2S1 MX— 4 12 1 

Nlokro, sotono (5), DiPIno 18) and AjJiby; 
Andutar and Hunt, Nieto (9). re— Andular, 10- 
1. L — Niefcnv *6. 

New York 810 SOB BBS-4 9 1 

Las Angeles 8M SCI 080—1 8 ■ 

Gooden and Carter; Valenzuela Nledan- 
tuer (9) and seteoda. w— Gooden. 0-1 L— 
Valenzuela, S*. HRs— Hew Yartt, KiMM (3). 
Las Angeles, Guerrero (6). 

Philadelphia 3BI 000 BIT — 5 11 1 

Sao Dfego BB1 BU 883-4 13 I 


Walker. N j. 
Rosier, Jack 
G. Anderson. T.B. 
Bryant, Ball 
Crtobo. Blrm 
Bledsoe. Ori 
Corthoa nu. 
Spencer. Memo 
Boone, T.B. 


J. Smith. Blrm 
Alexis, Jack 
Fltzkae, Bolt 
Crawford, Memo 
Brodsky. TJL 
G. Anderson, TJL 
Moser. Memo 
KoeL Jack 
Kemp, Jack 


AM Yds A vs La TD 
359 1947 U 88 18 
270 1172 43 23 8 
238 1019 45 68 15 
198 973 4.9 82 10 
222 921 4.1 » 7 
178 476 U 20 2 
153 <48 42 65 5 
160 554 15 IB 3 
102 477 47 35 3 
R ec ei v er s 

He Yds Avo LB TD 
68 1103 I6J Si 15 
66 823 1Z5 51 4 
64 790 123 37 2 
61 988 162 46 9 
59 912 155 47 5 
59 an 102 41 4 
52 1023 19.7 59 S 
50 561 112 40 0 
49 717 14A 43 4 
interceptions 

No Yds LB TD 


Clan ton. Blrm 
Lush. Balt 
jimin, nj. 
Jackson, on 
George, Orl 
SuMon. Ball 
Bessillleu. Mono 
Bailey, TA 
Spencer. Blrm 


142S7 
8121 
8 65 
7 97 
6 93 
5133 
5 83 
5 61 
5 33 


Pouters 

NO Yds A VS Tb 120 LB 
TallBv. Ook 53 2342 442 5 21 76 

Gossan. Port 64 2703 422 8 14 56 

deBnrtin, Ariz 57 2405 422 6 19 79 

PortrMto, LA 64 2603 402 1 16 57 

Wallers. Hou 38 1499 394 4 B 56 

Mine-Mover. 5A 39 1510 317 3 11 55 

Specimen. Dan 31 1T79 382 1 3 58 

Pant Ret u rners 

No Yds A VS Fc LB TD 
McNelL Hou 33 401 122 3 79 2 

Gona LA 17 171 HI II 45 1 

Martin. Den/Artz 20 192 9.6 5 38 0 

Hall. Port 21 184 U 7 32 0 

Lo. Harris. Artt/Don 34 298 BJ 3 44 0 

Faulkner, Oak 15 98 AS 6 19 0 

KlCkoH Return er s 

No Yds Ava La TD 
26 697 3A8 102 3. 
26 644 247 7* 0 
30 485 242 53 8. 
24 575 240 57 B> 
26 549 21.1 41 0 
22 449 20A 39 0 
a 466 302 31 0 
22 4S7 19.9 29 0 


Verdin. Hou 
Lo. Harris. Artz/Den 
Jackson. Port 
Faulkner. Or* 

Ricks. Part 
l_ Tomer, Den 
Bonner, SA. 

Boddle. LA 


Cator. Orl 
Lot data, Balt 
Swtder, Jack 

Partridge, tu. 

Millar. Memo 
Andnnyshvn, TJL 
Pinsons, Blrm 


Pouters 

No Yds Avo Tb 120 Lg 
75 3208 428 6 IB 64 

57 2423 4Z5 14 13 60 
S4 2270 428 9 9 60 

5 8 2432 41.9 7 16 61 
30 1250 412 5 7 53 
42 1644 39.1 1 II 59 
54 20B7 386 4 16 S3 

Pout Roto men 

No Yds Avg FC Lb TD 
McFaddoa Blrm 28 315 112 13 48 O 
V. Jackson Oil 25 240 9L6 8 71 0 

LOTS. Belt 37 3S 92 4 20 0 

KrtghL M2. IS 141 U 1IS I 

H. Williams, Memp 31 257 82 0 47 0 

lOckirft Returners 

No Yds Avg Lg TD 


Tennis 


French Open Results 

MEN 

Singles Qu arte rfi nals 
Ivan Lendl (2), Czechoslovakia, det. Martin 
Jaite. Argentina. 6-4. 6-2. 6-4. 

jimmy Connors (3), U.S. det. Stefan Edberg ■ 
<141, Sweden, 6-4. 6-1 7-6 (7-2). 

Doubles Quarterfinals 
joakim Nystnxn and Mats wiiantfer (ft], - 
Sweden, det. Tony Gtommalua and Blaine * 
WUIenborg (1). U8. 7-6 IB-4). 6-3. 


Slip Anchor, Cauthen Win Epsom 


Coined by Our Staff From Dispatches 
EPSOM, England — Slip Anchor, ridden by 
Steve CautbaLled from the start to win Wednes- 


Law Society, ridden by Pat Eddery, lock second 
place by six lengths over Damister, Frenchman 

Yves Samt- Martin’s mount, which edged Supreme 

day’s 206th Epsom Derby- Slip Anchor, the 9-4 Leader, ridden by Hiifip Robinson, into fourth, 
favorite, led by more than four lengths ai the It was also the first derby victory for veteran 
halfway point of the lft-mfle (2.41 -kilometer) race . trainer Henzy Cedi “Tve dreamed about this area 
and crossed tire finish line more than seven lengths I was a schoolboy” be said. “Thank God Fve wan 
ahead of the 14-horse field. the derby at last.” 

Chuthot is the first U.S. rider to win the British Before the race, Cauthen, lad called the 3-year- 

4 ClL. .1 1— _ U I ' J -Jj 


Triple Crown 



B into the straight how far in front I was,” 
ioihcn, who has lived in England since 1979. 


old Sip Anchor the best horse he'd ever ridden. 
“He and Affirmed are different types of horses,” 
said Cauthen, 25. “Affirmed never won by mare 
than he had ta but this hotse kills them before they 
have a chance to get at him. I’ve never ridden a 
horse with such a stride. Yes. !'d have to say that be 
is the best." (AP. CP!) 


A’s 2, Yankees 0: In New York, 
Dave _ Kingman's home nm and a 
combined four-hitter by former 
Yankee farmhand Tim Birtsss and 
two relievers led Oakland to vic- 
toty. Winning rookie Btnsas. part 
of the trade that sent Rickey Hen- 
derson to New York, limited the 
Yankees to three hits over his six 
innings. Reliever Jay HowdJ, also 
included in the deal, retired Hen- 
derson on a bases-loaded fly ball lo 
end tbe game 

Rangers 7, White Sox 3: In Ar- 
lington. Teas, Pete O’Brien’s two- 
nm double capped a four-run first, 
and knuckleballer Charlie Hough 
went tbe distance for the fifth time 
this season as Texas downed Chica- 
go- 

Angefc fi, Orioles S In Balti- 
more. Mike Brown’s 15ih-inniog 
RBI single lifted California past 
the Orioles. (AP. CPI i 


Denny. Carman (6L Andersen (7). Tekutve 

Parrish. Orl 

48 1059 22.1 95 2 

(91 and VlrglL Diaz (8); Hawkins. Gassoge 

Peguos, N_l. 

22 459 20.9 38 0 

(8). DeLeon (9), Lefts; ts (9) and Kennedy. 

McCants. Ban 

22 442 20.1 37 0 

Baehv (9|.W— (joHertx, 84. b— - rekuhe.3-1 

H. wiitfcma, Memo 26 711 193 49 0 

HR— San Diego. Garvey (8). 



MbHiiews, Jack 

15 289 1U 46 0 





Wllllama, T.B. 

23 441 193 35 0 

Major League Standings 

Comrth. Blrm 
Butts. Jock 
Sutton, Blrm 

23 417 18.1 26 0 

27 4H 173 33 0 

IS 244 163 24 0 

AUCDIfAU V CARIlP 




East Division 



WESTERN CONFERENCE 


W L 

Pet. 

GB 

-room offemo 

Toronto 

33 16 

m 

— 


Yards Rush Poes 

Baltimore 

28 21 

sn 

5 

Houston 

5849 915 4934 

Detroit 

26 23 

M2 

6to 

Denvor 

5414 1822 3592 

New York 

26 S 

342 

6to 

■ Ook land 

5358 1976 3382 

Boston 

25 25 

sat 

BVj 

Arizona 

4739 1748 2991 

Milwaukee 

22 ]l 

A7B 

Wa 

Portland 

4ft» 1701 2380 

Cleveland 

17 34 

JO 

17 

Las Angelas 

3969 1747 2222 


Wost Oivhtoa 



San Antonio 

3686 1450 2236 

California 

28 22 

360 

_ 

Team Defease 

Kmsas City 

26 23 

331 

lift 

Oakland 

4530 1434 3106 

Chicago 

24 23 

311 

7Vi 

San Antonio 

4S47 1671 2876 

Oakland 

24 26 

Am 

4 

Denver 

4649 1784 2865 

Seattle 

23 37 

AU 

5 

Arizona 

4655 1953 Ufa 

Minnesota 

22 27 

Am 

5Vt 

Houston 

5186 1881 3305 

Texas 

19 31 

-380 

9 

Lo» Angelas 

5194 1740 3454 

NATIONAL LEAGUE 


Portland 

5205 2077 3128 


East Division 



Gttortarbacta 


W L 

Pd. 

GB 


Alt Com Yds TD Int 

New York 

30 17 

jsa 

— 

Ke(lv. Hou 

567 360 4621 39 19 

OUCOBO 

2B IB 

809 

lift 

Hewn, oak 

399 217 3311 28 IS 

Montreal 

29 22 

369 

3 

Gaailana, Den 

267 136 1883 13 12 

SL Louts 

26 23 

331 

5 

D. Williams. Ariz 

411 218 2839 15 13 

PMadetoMa 

18 31 

867 

13 

NeuheiseL 5A. 

338 185 2374 IS 21 

Pittsburgh 

17 30 

J62 

13 

Evan. Dun 

303 146 1996 12 15 


Wmt Hvhtoa 



Young, LJL 

195 104 1353 4 ID 

San Diego 

28 20 

381 

— 

RaDlnson. Port 

*44 \19 1572 11 10 

CtoeUmart 

37 2 

351 

lift 

Sourer. LA. 

224 lit 1415 7 16 

Houston 

25 35 

300 

4 


RllSBore 

Los Anaefes 

25 26 


4to 


AN Yds Avg Lg TD 

Son Tranches 

30 49 

M 

Sift 

B. Johnson. Den 

176 1133 6 A 56 14 

Atlanta 

19 2* 

J9a 

9 

A genlley. OoL 

163 9 ID 56 57 7 


WOMEN 

DeobiM Qaartarfiools 
Martina Novratliovaand Pam Shrlvar. US* . 

del Chris Evert Llayd. U.S- and Paxcale Par- 
adis. Francs. 6-3, 64. 


Soccer 


WORLD CUP QUALIFYING 
European Groan Six 
De nma rk C Soviet union 2 
PMntx Standfast: Danmark 6; Ireland, 
Switzerland 5; Soviet Union. Norway 4. 

Remafatos Matches: Soot II. Swltzsrtani 
vs. Ireland; sept. 23. Soviet union vs. Den- 
mark; Oct. 9. Denmark vs. Switzerland; U, 
16, Norway vs. Denmark. Soviet Union vs. 
Ireland; Oct 3a soviet Union vs. Naraav; 
Nov. 13. Switzerland vs. Norway, Ireland vs. ' 
Denmark. 



BASEBALL 
Anwrtcaa League 

MILWAUKEE— Activated Vu0 - 

vieh. eiWwr. Detonated Jim Hem, p, lcnwv 
for osMnmenL 

VtattOBQl 1 

ATLANT A -P ta cBd Pascuol Perez, pitch, 
er, an the 2i-aav disofefed list. Called in Dave 

S^i°L^ WnB,d,ra « 0fl 

DartaounfeKfer, 

to Denver at Uw American Association ft*. 
«*■•« MO* VenaWe. outfieide^Tonr 
ST. LOUI5— Plocea Darren P £££££ 
w.on too l Sum disabled list. Called ud ramu 
HvaL catcher, tram Loglsv.lfe 
can A»oc«lion. Amer^ 








stxt 




F. 

r 


Page 16 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 6, 1985, 



ART BUCHWALD 


Attacking ' Washington 9 


W ASHINGTON — A bum* 
of us Washington sophisti- 
cates wens lurking around a bar the 
other day when President Reagan, 
who was barnstorming the country 
selling his tax reform, came on the 
air. 

“Hey" said Beaver. "There’s 
Ronnie, the people's lobbyist 
The president had the crowd in 
his hands when he attacked the 
“special interests,** “bureaucrats” 
and “so-called expens” who had 
‘forgotten 


about the Amer- 
ica that exists 
beyond the Po- 
tomac.” Reagoo 
got everyone 
riled up because 
he told them 
Washington 
didn't care 
about them. His 
message was 
that it was just 



Budmald 


the voters and him against “the 
government." 

Capehart said, “Boy, he sure 
looks mad-” 

Beaver laughed. “He isn't mad 
He's putting on an act. There's 
nothing that plays belter in Peoria 
than a president of the United 
States who bates Washington.” 

Capehart said, “But he is Wash- 
ington. All those buildings out 
there are filled with Reagan bu- 
reaucrats. His people have been 
here for five years. Why does he 
make it sound as if he doesn't know 
who is running the country?" 

Beaver said, “Because he just 
struck a political gold mine. Every- 
one is against ‘special interests,’ 
‘bureaucrats' and the ‘so-called ex- 
perts.' What belter way to sell a tax 
reform program than to set up all 
the straw men in Washington who 
are against it?” 


resorting to Pat Buchanan’s rheto- 
ric. When Reagan attacks Wash- 
ington he really means the Demo- 
crats in Washington who are 
interfering with his programs. And 
when Reagan says he wants the 
government to get off the people’s 
back, he really means he wants Tip 
O’Neill to get off his back. The 
president’s strategy is to turn the 
American people against their 
elected officials. Bong the guy on 
the white horse is the role he plays 
the best” 

“Well said,” Beaver told me. 
“We must always keep in mind that 
those special interests he’s flailing 
are the ones he and Nancy keep 
inviting over to the White House 
for dinner. And those tax reform 
s ton wallers that be holds up to 
ridicule are the very corporation 
types that keep meeting in the pres- 
ident’s kitchen. The Biggest mis- 
take we could make is to take seri- 
ously anything Ronald Reagan 
says on the road." 

Dumbarton said, “It makes Ron- 
nie happy to pretend he has noth- 
ing to ao with what goes on here: 
And I'm one of those who believes 
that anything that makes Ronald 
Reagan happy is good for Ameri- 
ca.” 


Capehart was still the dissenter. 
“I have an exception. By demago- 
giiing against this town be takes no 
responsibility for the fact his ad- 
ministration is the ‘Washington' he 
is attacking. They're his ‘so-called 
experts’ that are running the coun- 
try." 

I could see Capehan didn’t get 
the big picture, so I tried to explain 
it to him. 

“Tbe president has discovered 
you get no ovations from the Amer- 


Pilgrims: 2 Museums of 'living History’ 


ican people when you defend their 
“ be knows he can 


Dumbarton said, “I haven’t met 
anyone who is against tax reform. 
I’ve met people who are against 
parts of it But hell, most of them 
are Reagan's best friends. The 
housing industry, the oil lobby and 
the fat cats have been his biggest 
supporters. I don’t ihink the presi- 
dent has ever addressed a lunch or 
dinner for less than S 1.000 a plate. 
If special interests didn't buy those 
tables 111 eat all the food left on 
their plates.” 


I said. “Knowing the president 
he is just 


as well as 1 do I’m sure 


government. But 
set them on fire by malting them 
think everyone in Washington is a 
crook. When Reagan raves and 
rants about the ‘special interests,' 
he’s just invoking his ‘Make my 
day' syndrome.” 

Capehart wasn't convinced. 
“There’s something wrong with all 
this. Why doesn't he level with 
Americans and tell them bow much 
it really costs to run the country?" 

Dumbarton said, “If you bad a 
$200- billion deficit and your De- 
fense Department was paying S60C 
for an ashtray, you would only talk 
about tax reform too." 


By Fred Ferretti 

Nr*- York Times Service 

P LYMOUTH, Massachusetts 
— “Pll be Barbara Stan dish, 
Miles’s second wife, this year,” 
said Kit Rawlins. “What was die 
like? Her father wasa fflnDerwho 
raised her to be a typical woman 
of the^eriod^Ste kep^agod 

the right herbs for doctoring. And 
she took good care of Miles, who 
we know was very hotheaded. She 
was gentle but she could be stub- 
born.” 

Rawlins. 31 and a 1978 gradu- 
ate of the University of Massa- 
chusetts, was describing the per- 
son she would be playing daring 
tbe season at Plimoth Plantation, 
the re-creation in this Atlantic 
coastal community of the Pil- 
grims’ first settlement. At Pli- 
moth Plantation, Barbara Sian- 
dish is always 27 years old, for 
here it is always 1627. 

To tbe west, across the state in 
Sturbridge, Margaret Piatt, who 
organizes programs for the inter- 

§ rotations department of Old 
turbridgfi Village, parts her hair 
in tbe noddle, puts on a heavy 
homespun cloak and a heart- 
shaped bonnet that frames her 
face and goes walking across the 
village green of that 1830s New 
England community. “Costumes 
make the parts we play more per- 
sonal," Piatt said “Our purpose 
is to involve visitors, to interpret 
history for them. Garments are a 
□ice way to do it" 

Plimoth Plantation and Old 
Sturbridge Village — two of tbe 


most famous historical re-cre- 
ations in the United States, along 
with Colonial Williamsburg in 
Virginia — call themselves muse- 
ums of living history. The ap- 
proaches differ, however. The in- 
habitants of Old Sturbridge are 
"generic” people of the I8th cen- 
tury, or “interpretations,” ac- 
cording to Warren Leon, director 
of interpretation for the village. 

There are no “language affec- 
tations, except for an occasional 
word choice or colloquial 
phrase,” be said. Occasionally 
scripts are written for special 
events in the village. 

The people of Plimoth Planta- 
tion are based on those who lived 


in the colony during the spring 
of 1627. Many of 


and s umm er of 1627. Many __ 
their physical characteristics, 
their temperaments, their Ekes 
and dislikes are known. Their 
personae are the results of de- 
tailed research by James Baker, a 
Boston University historian who 
is, by his own defim non, the “his- 
torical conscience” of Plimoth. 


Their job is to be, as totally as 
possible, ‘ 


the people whose names 
they bear; they try to reproduce 
perfectly the various English dia- 
lects of those early Pilgrims, by 
visits to England, by cassette 
training, by coaching. 

Those who play the parts often 
find themselves affected by (heir 
role-playing. Piatt said that her 
portrayal of an 18th-century 
townswoman “has helped me un- 
derstand what the sexes did at 
that time.” 

“Men were tailors, women 


sewed at home, for example,” she 
said. “It’s helped me work 
through my own stereotypes. 

“What we do makes as all sen- 
sitive," she added, "because we 
are in a situation where we absorb 
public comment.” 

Rawlins slips into her Baibata 
Stan dish character at w2L, alter- 
ing her speech patterns “to be 
sure Barbara doesn’t lose her 
Lancashire sound." Len Travels, 
bead of int&pretatian at Plimoth 
Plantation, alternates roles as 
Standidu Edward Window, a 
governor of Plimoth, and Captain 
John Sibsey, “a shipwrecked pas- 
senger who had been bound fen 1 
Virginia — not a separatist, not a 
Pil grim, but religious, and be has 
servants with him.” 

“Is it acting?" Travers asked. 
“It’s really more like imperson- 
ation, improvisation. You lake on 
a persona, a different world view, 
while retaining your own id and 
ego.” 

In Old Sturbridge Village, 
which is open all year, the build- 
ings that have been brought to the 



Edwrod Hpem/The Hem York Tme* 

Margaret Piatt in one ver- 
sion of a Pflgrira bonnet 
at Sturbridge Village. 


wooded, hilly preserve surround- 
ing tbe village 



Edward Hrunar/lh* New York Times 

Pflgrims with muskets at Plimotii Plantation. 


_ _ green and the 

farms are from the early 1800s. 
There are grist mills, open-hearth 
kitchens, farms, shops, taverns 
and public buddings, and it is the 
aim of those who are the living 

K rops in this setting to be cata- 
jsts, “to help people leant in the 
many different ways they leant,” 
according to Leon. 

“We have two messages,” he 
said. “We want people to go away 
thinking history is fun, and sec- 
ondly that history is important, 
that it has for their lives 

today. A living history museum is 
tbe best way to get that message 
across." 

But there are drawbacks. Con- 
stant role-playing occasionally 
leads to “burnout,” according to 
Leon. “People do weary of play- 
acting." 

“It becomes difficult at times 
to retain freshness and spontane- 
ity." Piatt said. “You have to be 
aware, to recognize when you've 
become routine and deadly, and 
you have to know when to get 
out." 

In Sturbridge, the coopers, tin- 
smiths, printers, potters, shoe- 
makers and broom makers ex- 
plain what they are doing and 
what their roles would have been 
in 18th-century New England. 


But in PlimoLh Plantation they 
“do not give talks." according to 
Baker. 

"Visitors are supposed Co draw 
them out," he said, “but they may 
not respond with explanations. A 
Dutch viator for example, talk- 
ing with two of our villagers who 
were speaking Dutch, was told 
quietly, ‘Leave us alone — we’re 
on a diplomatic mission.' They 
are always in their roles." 

George Ptummer. a teacher at 
St. Johnsbury Academy in Ver- 
mont, spends summers as Gover- 
nor John Carver on a reproduc- 
tion of the Mayflower in 
ftymouth Harbor. He said he is 
always prepared to “talk about 
the Calvinists, the separatists, 
why we left England, how King 
James treated os, bow it was in 
i/a dgn, bow we felt our children 
were becoming too Dutch.” He 
said he never feels that his role is 

assumin g too much importance 
in his liTe. 

Travers said the plantation’s 


population changes from year to 
year. Some people fl 


r _ . : find the acting 

a strain, he said, “some go on to 
school, others to other jobs, oth- 
ers get married." 

But Kit Rawlins, who is al- 
ready married, is not to be dis- 
tracted. All she wants to do this 
year is be Barbara Standish. 

“People come here looking for 
information," she said. “I can 
give it. through Barbara. 1 can 
lead the conversation, make it in- 
teresting and maybe there will be 
a little girl like rae out there who 
will want to come here and be a 
Pilgrim.” 


people 
Gripes From Broadway 

JL _ _ .o.«. M nt»rv Enriuh slosswai 


P 


A number of New York’s leading 
theater producers and 
Tuesday colled on the oty to help 
its ailing theater industry, saving a 
few high kicks for May w Edward 

Koch — who has his own show on 

off-Broadway. The producers Jo- 
seph Papp and Hal Prince were 
among the industry professionals 
who testified before the City Coun- 
cti*s Committee on Economic De- 
velopment. “To get an audience 
you have to charge low ticket 
prices.” Papp said, acting that 
prices for Broadway shows range 
from $20 to $45. He suggested gov- 
ernment theater subsidies similar 
to those u force in Britain. Papp- 
the producer of the New York 
Shakespeare Festival, was critical 
of Koch, whose book “Mayor has 
been made into an off-Broadway 
musical "The mayor’s relationship 
to culture is zilch," he siiilFapp 
included Governor Mario Cuomo 
in his criticisms, since Cuomo did 
not attend the Tony Awards Mon- 
day nighL “He did not show up and 

said he hasn’t been to the theater in 

25 years. He needs a kick in the 
behind, too. He and the mayor 
need to be educated," be said. Papp 


18 th-century English glassware, 
said Christie's spokesman PWer 
Rose. The royal armored goblet is 
enameled in odors on ««adewHh 
the roval arms of Ge*w Camion 
the reverse shows a sailing ship and 
an inscription saring “gfirtss » 
the African Trade of 9flu»*Ha* 
ven ** Rose said tbe inscription was 
believed to refer to the nourishing ' 
slave trade of the time. 


Ethel Kennedy attended ftp* 
John Paid UN weekly genend midi, 
cnee in Sl Peter’s SqW Vatican 
Ciiv. on Wednesday, fl* anni- 

versary of tbe assassination of her 
husband. Robert Kennedy. Keane- 
dy was shot June 5. !9oS* in the . 
Hotel Ambassador in Los Angeles, 
after celebrating his victory in Cat • 
forma’s Democratic pretidemiai 
primary. He died ihcfoUowing diy, 

at the age of 41 . ' 

□ v; 




ailing theaters. 


The I talian tenor Luciano Pavar- 
otti has received a “golden record” 

Tor success in the field of pop music 
and announced a return to Milan's 
La Scala theater for next season's 
opening night. Pavarotti said he 
witipTay Radames in VerdTs 
“Aida,” which inaugurates La Sea- 
la’s opera season on Dec. 7. The 
Italian singer has not appeared at 
La Scala since 1983. Pavarotti was 
given the award at Milan’s airport 
Tuesday, before his departure for 
Berlin, where be will sing in Pucri- 
nfs "Tosca” next Wednesday. He 
was cited for his record of Italian 
pop songs. “Mamma,” which has 
sold more than 100,000 copies and 
became a hit in the United States. 


Jimmy Otter, his wife Rdtt- 
typn, and their daughter. Amy. are 
in Thailand for a visit that maudra 
a trip to a Cambodian refugee 
camp. The former president a 
scheduled to meet with Prime Mb. 
ister Pram Timubnooda and far- 
am Minister Shkftd Sawfish to- 
day and to address a meeting of the 
second Friendship Force Aris-Pk- 
dfic Regional Conference. 

a 

Italian-born AtesssnAm Ferrt/* 
considered to be one of the moat 
gifted ballerinas of Britain's Royal 
Ballet, will join the American Bal- 
let Theater as a principal dancer in 
New York next season. Sbe wffl 
become the 17th principal dam 
In the company, whose artistic di- 
rector is MikhaH Batysfafcff. 

□ 


Elizabeth Taylor is resting at her 
home in Bd Air, California, after a 
week-long hospital stay for treat- 
ment of neck and back injuries suf- 


fered while filming a TV minisenes. 
eased from! 


A U. S. museum paid a record 
£56.160 (about $71,660) Tuesday 
for a rare ISth-century royal glass 
goblet by the renowned English 
glass maker WBfiam Beflby, Chris- 
tie’s, the auctioneers, announced in 
London. The Coming Museum of 
Conxin&Ni * 
est auction 


She was released from Santa Moni- 
ca Hospital Medical Center in Cali- 
fornia after tests far severe neck* 
and bade problems she suffered 
two months ago while filming 
“North and South," Taylor's pobb- 
rist said Tuesday. Tayfar suffered 

■L. ?— 


km. The Coming Museum at 
ing. New York, paid the high- 
action price ever recorded Tor 


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FRENCH PROVINCES 


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217 sqm. Frying space. 

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IE OAf&DGE 359 67 97. 

15th: CONVENTION 

2 roams of comforts. F3Z89 marthfy. 

10 MINS. CRAMPS ELYSEES 2-roan 


SWITZERLAND 

IIEDE LA GTE 

View an Seine, Syria. 2 bedaoms 
duplex. R1J500. 563 68 38 


No agents. Tet 329 38 83. 

oty. splendid torched oportnrort. 2 t 
bedrooms, south-faring smal terrace. fc 
Jufev4uau»,radMnfe(Iulr-OW»n- O 
In). PossnAty 5 people. 53750 / [» 
month charges inducted. Tet (41V22- ^ 
47 73 45. Y 

fc 

FEAR CHAMPS RYSaS. Sfotfiot. 2 & 

4 rooms. Tet 225 32 25. 

CENTER PARIS. July. Nat 2 room 
upartirert. Tet 565 1B91. Ewaung. 


International Business Message Center 


REAL ESTATE 
WANTED/EXCHANGE 


I0OHNG FOR SfUMO or 2mm 


a p art me n t for 1 yetr ironing July 1 sfc 
Prefer Rbce des Vosges. Montpar- 
nasse, Pont Tet 531 61 30 early 


nasse, 

rooming or after 5 cm. 


EMPLOYMENT 


EDUCATIONAL POSTTIONS 
AVAILABLE 


DIRECTOR OF STUDES 
For hbuidlmd House Sdwd 


LSA T£F,OL Diptoma . . 
coartSnaoon of afl padago^(tt 


ti up ling & resource 


Hondwriten oppfiQAws with photo 
& wfay roquwmerts to 


EXECUTIVE LANGUAGE «VKK 
2LBd.de Sebastopol, 75001 Forts 
Attention: Ml PbllfY 


EXECUTIVE 

POSITIONS AVAILABLE 


PRODUCTION MANAGBl 

lfermanu- 


— — — llwA5kv«j 
ptAfl plant eanpmem a o# 
memuroauro. Snoud hawe 
to train nort-Eumpeons. cam- 
Afandiuiity of Arabic 


for .cable monu fa et urin a farifcy. 
have knowlalge of me follow- 


MaSffer/Switierimd 


ATTmUON EXECUTIVES 


in A« kitvntaiioncJ Heraid .. 

bane, where mane (ban a AM 
at a miK on readers wn rf rf- 
wida, roast at wham are in 
f wri ie u and industry, wBJ 
road it Just to/ex us (Paris 
613S9S) before 10am, en- 
suring that we an Mex you 
back, and ruur mtasaga wtt 
getar wnhto 48 bourx. The 
rate h US. $9.80 or toed 
equMhnt par Ena. You must 
indutJe co m plete end m#- 
aUatdBngaddrast 


BUSINESS 

OPPORTUNITIES 


CHINA 


MMOONG BfCTRSC PRODUCTS 
from futiro, faffei 


Mi 


„ Bectric hnpon & Export 
TiadEng Corporation m Fuzhou has 
done buseiess with over 20 countries all 
over Ite world. 

Its main products ndude: 

1. ST Senes AC Sngfe Brae Synchro- 
nous Generator. A gold medd winner 
bi China. 

1 The YC Senes Single faow Bednc 
Motor . A highly prosed qudhy 

S!&wng AC Bertie Motot, dhema- 
tor. tSesd genenjmg set. power tod 
and other etednai products ftotn 
MCndong. 


whofesafersA ictafers ore waksme to 
amtod us ah 


MONTE CARLO. UKUBOU5 hA, 
<xnt 


furnished top floor cenfrcAy an 

tinned apartraert, 110 iqirt, forge 
tenon overlooking tea, uninterrupt- 
ed French/ Itoian sea coast panora- 
ma. Fulf* equipped, afl services mdud- 
tnp 2iboiir atraerge, foundry, 
pod, Bt«9e. 
Ops 3 mnutm 
r. Co6 Sw*»r- 
homs. 


fond 01-69 n 


Ntindong Bedric 
Import & Export 
Trading Corporation 


15, Wu Stoi. 


China CoUfc 8176 1 
Teteu 92126 MOON CN. 


(Personal inqerieS are welcamef. 


BROKERS 

INVESTMENT ADVISORS 

Your {tents can invest in onetrf Ameri- 


ca i mast exol 

ItKi 


i breA- 


oughs m a bitan dolor nut i . 
LOOO trees obeady Flmded 


DMdends PeM. figh amuai aortwigs 
assured for many, mamrveas. Gener- 
ous coasmisxjooi ma Bonus. Muten- 
d avafoble m BigEdi, French. German. 

CortSod- 

GLOBE PLAN S A 

Ay Mon-Repos 24, 

04-1005 lanarne, Switzerland 
Tel 121(2235 (7-TIk25 185 MHJS CH 


BUSINESS 

OPPORTUNITIES 


OFFSHORE & UK 
LTD COMPANIES 


We of Man, Turks, AnguJta, 

Wands, faruna, Liberia GbraAar end 
most other offshore areas. 

• Confidential advice 

• Immediate avaiaWity 

• Nominee services 

• Bearer shores 

• Boat registration! 

• AccouiWng & adnwksnulian 
■ Mo4, telephone & telex 

free aBfanfer boaUef front: 
SalCT CrafPORATE 
SHWICE5 LTD 
Head Office 

Mt Pleamt, DaaWcai, Ida of Mm 
Tel: Douglas 106741 23718 
Tele* 625554 SELECT O 
London faprsuvuive 
2-5 Old Band 4 London W1 
W 01 -493 4244, The 28247 SCRONG 


OFFSHORE TAX SHELTER 

COMFANB 

UK. tie of Atari, Turb. Channel Islands, 
Panama, libera and most offshore »■ 
eas. Cfoitolme support fadfifes. Vary 
■trict COnndanbdty. 

Free consultation: 

Roger Gnffin LLB, F.CA 


Brochure: Corporate Atanogem e nt Ut 
m House, Vienna Street. 


Western 
■ , bde of 
TeU 627389 


IMPOBTBS WORLDWIDE end espe- 
ac*y in the Aflidcfe East; We offer fl 
araprehenstt service of manoang 
your enparts from ex-worfa supppers 
ir) to your woe houses. Our services 
ndude: forwarding, tro apu t c wn. 


aB necessary documentation, iiwnio 
ing, payments and a for mare. W* 
assure a first dssi service lovina time 


eesovmgw 

Bidrpe Infl. .The 2187? / 






USA 

BUSDBSB « REAL ESTATE . 
Businea SCfelr commercial, mdustnd 4 
resdontid red ertttMda & leases. 
Properly mopoggmart & buoness ds- 
Msfopmertt. Writ? with your reqejire- 
menls & finonctol specs to Hkson Redhr 
& 8smness Brokers, 14795 Jeffrey M, 
#2UUfvnre,CA92714 USA.71A6S1- 

iTfifc 5W194, 


8030, 


EXPORT TO USA . 
WotlcTs nchest mortet New booti by 
IfiCustonKOffieeMlIihaw.PkeDnK- 
tory of US Goremmert Pitethcsnn Ot' 
6c« Send US 332. Federal ' 

Bom 15301. Washington. DC 


BUSINESS 

OPPORTUNITIES 


Are 


HSNCH VMEYARD 

Your own rtraSroo wfnw. 
Under $10,000. 
interested m n resin q in a 


your. 

Contact: 

Mi era fovest. 82 Sloane St. 
London SW1X 9PA 


ATTRITION MID EA5T Agents - Can 
you sucxessfuty r v preswnt my av3 
defenm wen system? Are. you lechri- 
cot? VVG »«» forest USSIOfltXX L 
Stewart, Av. Louse 368, 1050 Bros* 
seh, Beforuni. 


LADY, FKST CLASS Mvenoes PJL 
high level oontaCH AM**nr, Afrv 
oq Bnaeq soefo msodato with ato* - 
5, ftert fcn^nk Frwrdc Itokto^- 
oui often oSy. Tet Ptsvi 799 801. 


US BUSINESS WVESTMBW5- Borido 
Red Estate. Maxm/Mraon Inc. 790 E. 


Broward Bhd, Ste. 202, fart Louder- 
" 13301 — 


dde.FL 33301 USA. 


BUYING SWATCH WATCHES, any 

nnsaffis-iS 


COMRHS CHEBL Badtng required 
to ton 
Hiane 


to founch revdmjgnaiy new system. 
+ 463f-139BlS 


2ND PASSPORT / TAX HAVEN 
Guide. GMC 26 KZeornenow >0676 
Atfwro. 


BUSINESS SERVICES 


HTL 

BEAUTIFUL PEOPLE 

UNUMtlOlINC 

UJJL » WOBDWBE 


A eomptoe * bu ? , “ 

' ' a ur*gue oafochan a 
satue & muMfoguai 

far aflacoBtore. 

212-765-7793 
212-705-7794 
330 w. sah St, N.Y.C 10019 
Service Ri 
Needed 


CORPORATE SaviCES B4 QENEVA 
Setting 8 management of onshore 
compafes, commercial tepeunto 


iA PO Ba* Iff 

CH-121 1 GB*VA 25. Tbs 428536. 


SA5 ft Ex MHJTARY penamd avai- 
able for the bast m executtwe penand 
& related security mteten. 


Security 




153. 


HOW TO GET A 2nd PASSPORT. 
Report ■ 12 coutinn tadyied. 
Deimh: WMh. 45 Lyndhunt ICE, 
Sure 510. Centroi, Hon* 


TAX SERVICES 


USA INCOME TAX ADVICE & fe- 
torn. Paris bawd US CPA 39963 01 


FINANCIAL 

INVESTMENTS 


COUAJBIAL avsahdde from Prone 
Bote A coraprfrtensire Wrinoe for 
mbtrage purooses. We supply / ar- 
range: ej dean company dusk, bj 
m* menu of purpose of artxtrage 
foam, q fktuaory bank txrounls, d) 
eaBetarat e) colateral nolifi neiu i i by 
leleti cr hard copy. Please contod our 
London offices- 01 244 9592 / 01 385 
5492 / 01 930 0926, Tlx 8951622 
TAKSCO G 


USA ENIEKTAINMENr COMPANY 
Sate fowtstoro (510X00 - 9250X001 for 
Madson Squroe Gordon erentj, Alfan- 
lic Gty tews, rock & roll tours. Short 6 
long term prcyKhmaUble. Jonathan 
far erettng fun fovMinq DETARS: BNE 
" '71 Late Hrt, 
11030. 


far oidling fun Wnrnirq. DEI/ 
Carp, Tfct 221213 TTC0V71 
Ste. 100, Mcmhcnset. NY 110 


AN MAJOR OIL £Oup. Fom- 
stfc 200X100 fee ut 521 (Value 
$SL Urges* Btuafev Write Son 
2365, Herald Tribune, 92521 NeuJty 
Codex, France 


OFFICE SERVICES 


Geneva France Border 

uda MIOE.BUUEAU 

MOKE 5SW1CES 
Yov frmy erotfoped office in fronca, 
DorndBatfon pfa, mo3, phone], trade 
safe, tionJcnans, actinnstration and 
secretoriQl services. Legal end auefor 


advisers. Short or teragfem. M&A. 86 
OedeGmwre, 74m Gedtord. fane 
is ISO] 92-1341 m MBA 309078 F 


Teh I 


YOUR SWISS BUSINESS 
BASH) IN LUGANO 

I bittiness servson p 
mat tanka/ frantatii 


091/231 161 - Tfe 79544 I 


YOUR G8CVA OFHCE 

reth 

&AJ.SLA. 

Comprehensive range of streets 
7, St K htaty, G&1EVA 1207 
Tel: 22/36 05 40 Tbe 23342 


ROME - Short/long term rut. Your 
aval preskaout busmen; office toast- 
ed between Via Venera & ftmzc d 
Spagnq At your dspouf: setretoy. 
tbr, frawtfotore, cosnputen, ttemes. 
Ccd MY. 312-SJ545771 


Yd* OFFWEW CENTRAL MADtffl 
4- meeting room & telex or services 
to Oort business. Legd 6 financial 
consulting. GaPA, Valltiiermoso 14 
28015 titadnd Tbt 44977 GAPA I 


IMPETUS • ZURICH • 252 76 21. 
Plane sefoi ‘ rtcdboi. 


I Mochmes, hennch 

*y 

1 benefits apply: 


moefem from 
3 Draw' 

West 
FoAowng 

A. Homing 

Bl Haficfoy>30 afendro days plus 
food hoEdays 

C One return air ticket harm, 
refoarton afowcrca. medfod 
■meant* & company car 
D. Ires year Contract 

florae mail resume ttt 
Amenato tndratriol trtl foe 


EMPLOYMENT 



l £ 


FOR MORE EXEamVE rasmaNS 
LOOK LMOCR 

INTBMATIONAL PORTIONS” 
PAGE 2 


POSITIONS VANTED 


GENERAL POSITIONS 
AVAILABLE 


ASSISTANT, HIGH UMH. German / 
Free to trovri. (tons 548 80 47. 


(COCWBt 

agency rejrti required 
mtnrnasionafly. Bax 41092. 
fang Acre, tendon. WOE 9JH 


X THAW. 

nationdhr 6| 


AMERICAN laftMYM PAHS seeks 
head Ibrarim Onfidatoi mwlhoMi 

S5Tr , 

roogrewrely responsUo U§ public "PP— 

enae essentioL Submit resume and 


'j. ' 


salary reeuimMd to Satvdi.GattieeP 
lee, American Lfavey m tail. 10 rue 


toe. _ 

du Gen. Comoo. 


SECRETARIAL 
POSmONS AVAILABLE 


tad I 


s 


DtsnoNJTOtS WANTS) 
far handmade Ouria & tarter- 
G0UEC1QR NATES ’ 
Haiti Martens 
Crecrtvfl G3tS__ 

Dr. G. Daulor Sir. 23 A 
D6S51 Kefortoten, W. Germany 


imnerve ‘Tas.ffjap 1 

*V Dutoh or Gurtnon 
dwtodgo of French re 
Enqfoh dwrSond. Bingud 
i. Vwge or phone; 138 Avenue 
ffapo. 75116 faro, Franc* fob 


OVBBEAS POSIIIONS. Hundreds of 
top paying position amiable. Tax 
free rnoamet. Artracthn* benefiA Op- 
partumbes far dl occupatmm. Free 
detods. Overseas Frmxoyment 5er- 
viras. Dept. HT, P.Ql Bra 460. Town 
of Moral Boyd, Quebec, Canada 
H3P3C7. 


...Pool idee 
IW BMATlOMAt 
SGCRETAHAL P05IIK9N5 

TUESDAYS 

foltra MT OratOfod Section. 


ARORIKT « «GMH.ja 


edge of^ranch.^Send CV. jhoto 6 
renomd 


US. firm fo frarftet. Send re- r M 

M"* Po,tale ,!< 


fB 


ENGLISH SPBU0NG 
Tab 770 80 89, or 


. . DOMESTIC 

perogn of .foncMaw, PAUKWiafft 3 POSITIONS AVAlLAMJE A 

— ^^ 9 '. MBtr00pem ^HOifia^orcou^worf 

G ENERAL od munedfotely for nudl mold in 

POSITIONS WANTED flea 39,5. Storing. 


M-S- , 

ties, hdf 


GSiMAftAMBBCAN 
age 63, mole bachelor, no 


DOMESTIC 
POSITIONS WANTED - 


diodd be ftuanl in Engibh, Hce spans 
ocarfremdancedur- 


7775 Cooper Rood 
fOH 45242 USA 


Ckidlpiuli, 

Tefotc 2Ii 


/4442 AMWNC- 


EXEamVE POSITION 
B GROUP he 
opening in KUWAIT 


ARAB. GROUP b^o d^o 
ii tot a uWfnoaonai 


preferably 

Pderfman. PHD & _... 

vmdd be cm asset. Resume wah certifi- 


COMMBOAL MAHAG8T in Mar— e 

irofetry, enginear foiechaniQd. mate- 

nob or cMiq, fluent in En^oh, French 
& German, foratfon France. Sales 

war management experience ie> 

SchaaSng at writ etraertencc 
m USA a +■ . Gmtpraiy a m saXna 
refetemcirtrry, so mteresr or knawf 
edge of Kten would be helpful but 
not required. France: (74) 28 14 19. 


EXECUTIVES AVAILABLE 


ifn.B0KUTIVE 32. American, West 
taj Grad. General Engnwcrina 
MBA. 6 years Gaps of 

eurreflff ' — ** 

ager of 



trosn* / taape or German ammony 
in Us. fluent Gorman. Defense lifous- 


try of stead imrest 


Bra 714 


Frantrfurt/Man 


Fnedndhar.l 5 ,( 


SWISS MANAGING DUECTOR 
<2 year oW. 18 yeort W-TKH marfet- 
mg tmd sales eqtenancq proven irter- 
nonond success records, entreprcnevi 
•pmr, Germon, Frenrti & Engfoh, Used 
to «tort-uM. 

SWS CHAUB4G04G POSITION 

to* 2W, Herald Tribune. 

92521 Nauffly Cedtt, Fitne 


ADMIMSTEATWE ASSISTANT 27 
mapnmiarl wjte atetesmjoon’ 
bodwmind m infl finance & trade 
French & compute^ fluent, wefl irav" 


efod, strong Rind World nperierne. 
mabfe. Douglas Odder, 

Goforodo S prings . CO 80906 lHa 
T eb 303471-6027. 


MARKET RB8AKH spebaht, maro 
egemed few. mdudnd/canRm- 
praduds,seM poteon with US muiii- 

nertond at LW wrn m Amsterctam 
after Aug. 1. Write to: S. Van Booh 
V an Weeidenpoetmantaon IQ, U0S 
.Amstehroen, Hottami . 


corporc j ton. West 

1201 Geneva SwitwHond 


Own refiable ear. 
Wnte in confidence to 


Short ht 


AMTOCAN WOMAN MBA,. 

4 frwtotiaviL Huent 

I «f31 

h ddinq.cam pgny, morngaiMni eon- 1 _93 Long Acre. I 


overseas PKjrarrr? i.^ 

«per«iH»d English coupte, iffvw* 
wnl4, requre position n care & 
mawtiknonce of property dtroad. 

~ ■ hincSb 

_ _ s driven. 
Tet IK RBW) 
or Bax 41077, LHT. 
London WC2E9JH; 




U*| 


*7- 


* AVARABtE - AU 


riSrSSS aChaS: Mpmi&i 


fsssmim 


SE AMASTBL 51, DYNAMIC Long A BOVE IBS rawteww STT 
Wren* in tep'x nxmonwnerf AVHMGE POSITIONS fat 

femnem mo fe e nato e, eSoo^Sdn' C 9B Au.Pdrcsg 

aSSSsdlRSffl«» 




Seeta, dtdfcngife'paa. , 
abroad. .taeUei IfoanSlxSoI 


^glNeuffiyO-ttaLta^l 


•„ — a 1*1 da» daiy maidi i 
y^fowj-Sorae Bue™, 730 8122 
-»14Z Ljcencnj employment agency 


E »®»*C£D L JOURNAiIST, Ger- ^AUTOMOBILES 


| he US or Caioda 10 nm g* ™* or rear offer onel- 

*«CH*S MO 12 

d. writ* t*. Si*™: «*w. SAcna Tsi 


d. Write tg, IU..._ 

PtNSOHraxiig.W 1 


Ewqp erai position in to. 


transca* 

W* c Cy gW HNG 

PABS SW3AUSTS 

HL5Q0 03W 




ATTRACTIVE A ELEGANT LADY 

a ra P rB * e ««^, ot 

,5 - »*> Ism™ 01 *** 

93 10 45 
fl] 43063 
SB 7061 
931 7605 
568 9288 
866 6681 


71 
2] 

*®®*T5 WORLD 






■aSSUMfeneSSr.*, 


ovoaoble to r-^™ 







Km r^Wrttw rafsjVs? 


PAGE 13 
FOR MORE 
CLASSIFIEDS 


Printed by gdz t n Zuri £h (S wtae rjaruI) 


l rrwv.urTYUpcninr.ij 


i 







- - " - ■■ JA-