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The Global 
Edited in 

Printed Simullaneouslv 


| j . i rnntea simultaneously 

j I. in Palis, London, Zurich, 

: ni, h ({a,,., ,!.% H Hoi^ Konp. Srjpapore, 


H°*g K «»p.Snp3pore, 

, " « jju The Hague and Marseille 

, : i -h„i, IiIii 

* ! •'•■*•: !'? S , weather data appear on page re 

"',V •.*?** No. 31,834 

' . - 


INTERNATIONAL 




ribunc 


Published With The New York Times and The Washington Post 

** PARIS, SATURDAYrSUNDAY, JUNE 15 - 16, 1985 ■ 


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Citing U.S. Yote 


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l'. . ■ Catfded br Our Staff From DapoKhes 

. [ •' * i-.ii g _ MANAGUA — r -President Dan- 
shI [C; iel Ortega Saavedra of Nicaragua, 
an angry response to the renewal 
'• Ik., p '. l Sp U.S. aid to the rebels fighting his 
. .-.• » government, has said he is lifting a 
•" ■ self-imposed moratorium on arms 
■■ ■'• :: £ imports. 

i . - He also hinted Thursday that 
: i‘ ■- .j„j! Nicaragua might try again to Boy 
‘ l sophisticated jets to strengthen its 
small air force, and said he would 
welcome military advisers from 
. . y ;1! '• V*. ■ Cuba or any other country. 
vn , ' ■" * '-in j} Mr. Onega's comments came the 

day after toe U.S. House of Repre- 
'■’•''.j |,y sentatives voted, 248-184, to ap- 
v prove $27 million in nomnilitary 

' '-'3, ?l d lo die rebels. The Senate had 

• • 'iir i» ,v^ proved a larger aid package the 
’ before.' 

The Nicaraguan leader assailed 
t the House vote as “unacceptable, 
— .,-jij'sr, illegal and immoral meddling.” 

tvjjr'y Mr. Ortega spoke after a nation- 
’ i orvir w ’de speech in which he said" his 
government would bolster its de- 
Tenses “in light of the deepening of 
r the war and aggression and the pos- 
.. .. ability of a direct interyenddn of 
. - v * our country." 

_ ■ He did not explicitly say that 

Nicaragua would buy jet war- 
"•'•i lul’jn. I-.,-., planes. But when he was asked 
C-e whether the new weaponry could 
• include Soviet MIGs or Czechodo- 
. .. \\.^ vak trainer jets. Mr. Ortega said. 

^Nicaragua is almost the only 
■ hi .3’.r.^euntry in Central America that 
. '■[" does not have the ability to defend 
• ■ ; itself rapidly by air." 

’ ' The Nicaraguan air fleet is com- 
• l p lie P 0 ^ of combat and tran^iort he- 
v ZT. licopters, small observation planes 
and propeller-driven bombers. 

'. ‘ In Washington, Larry Speakes, 

, , : the White House spokesman, said 
Friday that the United States re- 
» — mained steadfastly opposed to any 
Ri' tL Kt* Nicaraguan attempt to buy sophis- 
1 1 1R yiif beared warplanes. 

— “We would consder the intro- 

•n? duction of hi^vpafonmnee air- 
craft or other weapons of that type 
_ was f;io be a mauer of significance ana it 
. , ^^tomething we would lookat with 

• • - - .-jT^amfavoraWcey'e,’’ he±tid , 

■ ’ *;'■ w. Ortega said that the Sandin- 
■ - ists had decided “to suspend the 
"• '^measures that, in unilateral form, 
. rj our government has taken in the 
• - field of defense.’' Later.he said that 

y jhis comment included the moralo- 
• ' -rium on arms imports that be an- 
" nounced Feb. 27. . 


The Sandmstr sent home 100 
Caban military advisers in May, 
but Mx. Ortem indicated Thursday 
that he would now accept advisers 
from any country. • 

However, he iso said that Nica- 
ragua refrained open to a resump- 
tion of »»Hcs with the United States. 

Mr. Ortega said be declared the 
moratorium in February to farther 
attempts by the four. Latin Ameri- 
can natinik working as the Coata- 
dora group to achieve a peace 
agreemept ra Central America. 

The Contadora-group — com- 
prised of Eanama, Mexico, Venezu- 
ela and Colombia — now hopes to 
have a final accord drafted by next 
month. Foragn Minister Jorge 
Abadia Arias of Panama said 
Thursday: 

The House vote was praised by 
Nicaraguaa guerrilla leaders. 

In Costa Rica; Jost Davila Mem- 
breno of the Revolutionary Demo- 
cratic Alliance said be hoped chat 
the aid would enable the rebels to 
help civilians displaced from their 
homes bjr the righting; 



South Africans 
Attack Rebels 
In Botswana 


, v -.- f ' ’• 




^•1" 


Some passengers freed from tire hijacked TWA jet slid down the plane's chute and ran across the runway Friday in Beirut 

VWA Jet Hijacked to Beirut, Then Algiers 


The Associated Press 

ALGIERS — Hijackers de- 
manding freedom for Shiite Mos- 
lems held by Israel seized an Ath- 
ens-toRome TWA flight Friday 
with 1S3 persons on board ana 


Up to You,’ Beirut Tower Tells Plane 


By Alan Cowell 

Sty.' York Times Serrue 

JOHANNESBURG — South 
African commandos, operating in 
darkness, attacked Gaborone, the 
capital of neighboring Botswana, 
early Friday to strike at targets that 
a South African official said were 
the "nerve center" of the insurgent 
African National Congress. 

Sixteen persons, one of them a 
six-year-old girl, were reported 
s the runway Friday in Beirut killed in the attack, the first against 

the capital of a black-ru/ed neigh- 
bor since October 1983, when 
a -a 0 South African commandos at- 

tacked an office in Maputo. Mo- 

C/ One South African was reported 

had again threatened to execute wounded in Frichiy's raid. 



The Associated Press 
BEIRUT — Following is a par- 
tial transcript of a conversation Fri- 


Democraric Force, based in 


with 153 persons on Doaru ana t ial transcript of a conversation Fri 
forced it to fly fast to Barnt and dav in English between the cockpit 
then to Algiers. The pilot reported a^the Beirut control tower: 

S Ptane: Beirut control, TWA 847. 
threatened to kifl passengers and ^ . , onH ; no ; nctTlu -; nnc 


the hijacker to hold for 10 min- 
utes? Can you hold for 10 minutes 
to find a solution for your prob- 
lem? 

Plane: TWA 847. that is a nega- 
tive. We understand, we under- 
stand, but we must land at BeiniL 


hostages u their demands were not 
met. Reutere reported. 

[The Algerian press agency said 
the jet left Algiers late in toe day 
for an unknown destination. Reu- 
ters reported. A few minutes be- 


[The United States recalled its 
ambassador on Friday from South 
Africa to protest the attack, the 
State Department said in Washing- 
ton. 

[The department spokesman. 
Bernard Kalb, linked Ambassador 


Argentina 
Closes Banks; 
Reforms Due 

L'mtcJ Press InreriuUvru! 


uauuufliu. iwvv, umtu ui uuu- uucaicueu. iu jju ui iv a nw a .mu siana, Dutwcmusi tana at oaruL 

duns, , said Wednesday that U.S. had said they would Wow up the The hijacker is insistent. 


nnmhw ocraara iviUD, univeu rtramiswuor BUtNUS AlKtS — Aracmma s 

fore. a n uiitnown namto ^ addi- HcrmaI1 w . NicM - s rM]l IO lhe bank ordertd J bank . 

by ^ incursion into Botswana and to the closed Fridav, and the government 
capture on May 2 1 of a South Afri- w id it w^dannouncedrasticcco- 
* m ™ repqrts^ sud th ree hijack- ^ paut)] in Cabinda, northern An- nomic reforms to curb nmawav in- 


make a h^or move -against the 
Sandinists in about three months. 

Sandinirt officials said they were 
surprised at the margin of Wednes- 
days vote. A top' official in the 
Nicaraguan Foreign Ministry 
termed it a “much worse" result 
than expected and lamented that 
Congress had “shifted right of cen- 
ter-right.” 

A source dose to Mr. Ortega 
said: “We were shocked- It was an 
error not to consider the reaction to 
the trip. We daim to understand 
imperialist thinking , but at that key 
moment, we didn't take it serious- 
ly." The source referred to Mr. Or- 
tega's trip to Moscow just after an 
earlier House vole to rqect aid to 
the guerrillas. 

The House vote reflected a dra- 
matic turnabout., 

Several Southern, slates wqted'as 
a bloc for the proposal. Seven Re- 
publicans switched rides, mostly 
after Reagan concessions that in- 
cluded dropping a stipulation that 
the aid be afammstered by the Cen- 
tral Intelligence Agency and add- 
ing a provision limiting aid to non- 
nubiary. (AP, WP, LAT) 


Beirut, the hijackers freed 17 If dreg insriuctions due to the 
womcHnd ™ ciuMroL Two dosW iho urpo^JK- Ad** 

a—-™ »oo jasasss- 


were freed in Beirut reported that 
shots were fired, and one said a 
man was wounded. 

[The Algerian press agency said 


derstand En glish. 

Plane: Well, yeah, they do. But 
they’re insistent upon landing in 
Beirut. 


ten reported. A few minutes be- 
fore, an unknown number addi- 


jWpas^w^byd* ^E£iSCS+S&' 
ISSmSS St wSSsttadalBAuL 

T aKS f 


landing without permission. 

Plane: Be advised we have no 
choice. We must land 

Tower: OJC, sir. Land, land 
quietly. Land quietly. It's up to 
you, sir. As you know, the airport 
is not in my hands. 

Here ir a partial transcript of the 
conversation after the hijacked 
plane landed at the airport: 

Plane: He says if he doesn’t get 
fuel in three minutes he's going to 
kQl an American that he has lied 
up in the cockpit. 

Tower I am doing my utmost, I 


era were on the Boeing 727 But a ^ United international re- 
Lebanese Transportation Ministry patrol was apparently 

^ cesmaD * ltere Y 616 00 fl tnisriem to sabotage a U.S.- 

only two. A US-EmbasN spokes- rdinery there “The LLS. 


man in Cyprus who talked Ito freed gSvernmem condemns South Afri- 
passeogers said that they had only 2f s attack on Botswana," Mr. 


seen two. 

In Beirut, an escape chute was 


Kalb said.] 

Friday's attack was South Afri- 


towered from toe plane's front fim known strike against Bo- 
passengers slid iswana ^ a landlocked, diamond-ex- 
down to toe Uffmac and ran to a portin g country that is 
fire station. economically dependent on South 

Tbe hijacking was toe third tots and with which it shares a 


said it would announce drastic eco- 
nomic reforms to curb runaway in- 
flation. 

President Raul Alfcnsin was ex- 
pected to outline the program in a 
television address. 

Meanwhile. VS. officials said 
Friday that the United States and 
several other countries have agreed 
to a $4S0-million bridge loan for 
Argentina that is expected to be 
announced over the weekend. Ar- 
gentina has a $4S-billion debt, the 


week involving toe Bonn airport 
One freed hostage, Inna Garza 
of Laredo, Texas, said toe hijackers 


TbelTSs, who weie report- <».Il’sup toyoutogowL I cant 
cdly armedwith grenades, machine ^ youpmmmoHbeamt my 
fi5 anted 
fetaHoCw where Ac 


Towen OJC. It’s up to you to go. am doing my best to have the fuel 
i. It's up to you to go on. 1 canT for you. I am helping, but what 


plane was refueled. ' 

In a statement relayed ty the 
Beirut coat rdf towee, a hijacker 
said that toe “organization of the 


can 1 do, sir? Would you please 
advise toe hq ackers to take it easy. 
I am p lanning I am doing my best 
[garbled] to be ready for you. 


had shot a black man, apparently a were attacked by uoops armed wih 
passengs. m toe neck. She said the and automatic rifles, 

man did not appear to be m senous ^ African troops 

condition, adding she did not know ^ megaphones to warn civilians 
he was jhoL and police to keep dear of the tar- 

The hijacker, speakmgwrth a ^ ^ 4Ckmmuie raid at 1:15 
Lebanese aaxnt. denounoed what a.m. But newspaper reports from 

h* P”* 10 * 10 Gaborone- said that at least two 

control toe Middle East. trilU-A hv 


economically dependent on South developing world's third largest. 
Africa and with which it shares a The loan, which is intended to 
customs union. tide Argentina over until it can be- 

Souto African officials said that gin receiving disbursements from 
nine houses and an office complex the International Monetary Fund 
were attacked by troops armed wih and international banks, was to 
grenades and automatic rifles, have been triggered Tuesday when 
They said South African, troops Argentina and toe IMF agreed on 
used megaphones to warn civilians an economic program, 
and police to keep dear of the tar- Twdve countries are participat- 


oppressed in toe world" was re- nese, mostly Shiiif* . in prisons in 
sponsible for the hijacking He de- northern Israel. Israel’s Foreign 
niandcd that Lebanese Shiite Mas- Ministry said Friday that it had no 
lem guerrillas held by Israel be comment on toe hq ackers’ de- 
released lo the Red Cross in Leba- mands. 

non's southern port diy erf Sidon. Mta ^ ^ a half hours in 


control me Miaoie easL citizens of Botswana were killed by 

lsrad is holding about 700 Leba- Beirut toe plane took off for Al- ■ Action by Reagan an explosion. 

giers. The Algiers airport was President Ronald Reagan seat a The chief of the South African 
closed to all other traffic, and toe message to President rhadli Benje- Defense Force, General Constand 
plane landed in Algiers at mid- did asking him to allow toe plane to VBjaen. described toe raid as a suc- 
afternoon. land at Algiers, according to fort warned that further at- 


gets of toe 40-minuie raid at 1:15 ing in toe loan, including Japan. 
A.M. But newspaper reports from France. Canada. Mexico and Bra- 
Gaborone- said that at least two zdi. The United Slates, whose con- 


giers. The Algiers airport was president Ronald Reagan seat a 
dosed to ^ other traffic, and toe message to President Cbadli Benje- 


afternoon. land at Algiers, according to 

[Algeria’s press agency, moni- sources quoted by Agence France- 
tored in Pans, said toe hijackers Presse in Washington. 


lacks would follow if Botswana did 
(Continued on Page 2, CoL 7) 




olp 




Troops 
To Re fireedi 
^Israel Says 

1 ". . T -.- By Edward Walsh 

M 'ashmg/aa Post Service 
. - JERUSALEM — Twenty-one 
^ Snnish soldiers from the United'’ 
^ii 0ns force in Lebanon who 
J ’• . have been held hostage for a week 
! by an Israeli-backed militia were to 
be freed Saturday, the Israeli jraiK- 
.- lory command announced Friday 
nighL 

The announcement followed a 
. Qi |j day of high-level discussions here 
- and public statements by a senior 
cOR UN official that- military force 
r edffi would be considered if the 21 Hnns 
CLA were not soon released. 


* 0 ^* A UN spokesman confamed the 
<•*** Israeli Army announcement, say- 
. . ing that toe release of toe soldiera, 
l members of the UN Interim Force 
Lebanon, or UNIFIL, w*as 
. scheduled for 11 AJM. Saturday in 
M^vjayoun, site of toe headquar- 
of the Israeli-hacked South 
a** Lebanon Army where toe hostages 
are being held. 

A few hours earlier, Brian E, Ur- 
•' quhart, toe UN’s undersecretary 
- general, said that toe use of force 
by ihe UN would be a “last resort," 
bin he repeatedly returned to toe 
possibility of such a course. • 

; Mr. Urquhart also obliqudy crit-. 

* "■ icizcd Israel which imtSj Friday 

had supported the South Lebanon. 
Army’s demands and had asserted 
that it had no control over the nuli- 
' tij, u-hich is trained, equipped and 
• financed by the Israeli Array. 

The breakthrough followed a 

* meeting Friday between officials of 
ihe International Committee of ihe 

; Red Cross and Brigadier General 
'AitoineLahad.cotxunanderoF.toc 
sbuih Lebanon Army. 

The Red Cross officials told 
^ General Lahad that 1 1 Of his mili- 
.. ■ liamen in the hands Anal, the 
Shiite Moslem militia and a rival of 
‘ his forces, said in interviews Thurs- 
' day that they do not wisb to return 
to the South Lebanon Army. 
y On June 7, toe II militianKn, all 
^ Shiites, turned up in toe Lebanese 
port of Tyre, which is undo- toe 
control of Amai. 

The South Lebanon Army then 
captured more than 20 Finnish sol- 
diers from UNIFIL, charring that 
.fl .it Finnish UN battalion nad dis- 
a NP armed one of its units and turned 
4* c ner the militiamen to AmaL ' 

General Lahad demanded toe re- 
turn of his. 11 men in-exchange for 
the release of the Finns. 


Ethiopian Famine Draws Army of Veteran Relief Specialists 



tribution is $150 million, took the 
lead in arranging the package. 

German Lbpez, a spokesman for 
President Alfonsln. said Thursday 
that toe government would disclose 
a stringent anti-inflation program 
Friday and “all toe steps necessary 
to be taken." 

Business circles were expecting a 
wage-and-price freeze and possibly 
the creation of a new monetary unit 
known as the "Argentina." which 
would be indexed so as not to lose 
its value. 

Argentine inflation is running at 
around 25 percent to 30 percent a 
month, a rate the government 


pledged to reduce to 8 percent a 
month by April 1986 in toe agree- 


foMowng diggers. Ndyjhc worid has a new 

rohimity, toe Ethiopum famine, and they are m Ethiopia, I don't to 

They are called relief speriahsts, or develop- 

mental tedmirians. They work long hours for flJ _ , nn iv T » i 

Utile pay and no indmdual glory. They are Here yOU really feel OSeM. 

ibousandi upon thousands of Ethiopian ^hat you do makes a 

There is Dr. Peter Jordons, who has tempo- » 

rarily left his medical practice in the Nether- omerenuc. 

lands to care for the sick and toe starving in 

Alamater. desk right hours a day writing memos to 


By David Lamb providing emergency supplies, toe number cer- if it were not for toe beauty of toe land and toe around 25 t0 30 percent a 

Las Angela Tuna Service tainly runs well into toe hundreds. Most are people. month, a rate the government 

ADDIS ABABA. Ethiopia — Manv of them t 3 ™ P ress “ “ explam exactly why they arc m Senior relief officials say the young men and pledged to reduce to 8 percent a 

arev^CTmis ofKafra,R^ladesb and Cambo- Etoopta, tint* what creeps mto mat oonver- w-omer 1 attracted to disastm today are different month by April 1986 in toe agre* 

tol SfwhoTve soem much of their lives *■“ « a disdarn for toe routine and a hmt of from toe idealists of toe 1960s, who were out to ment with toe IMF for a standby 

aia, people wno nave spent muen 01 tnor uves idealisnu often ^ a Qinstian overlay. change toe world. And most have specific skills credit of $12 billion. 

Sieve Reynolds;, 26, of Monrovia, California, to offer. They do not proselytize and they do not The agreement still must be ap- 
said: “After working in Ethiopia, I don't dunk I have any illusions that their contribution will proved liy toe IMFs executive 
could be happy going home and silting behind a affect more than a relative handful of people, board and disbursements of toe 
. “These people are so straight that 1 don’t even credit will not begin until August. 

. 11 e i - 1 dare lei anvone know I’ve got a bottle of whis- The country paid 5250 million in 

Here you really feel useful. key in my bag." said an older American volun- back interest this week that 
__ _ . teer in IbneL “When they have iea in the after- brought it current to Dec. 30. 1 985. 

What you do makes a noon. 1 put a shot in my cup and drink it in my The central bank received a set- 

A .mp , .tent. I feel a little silly doing that al my age. but back when a federal court of ap- 

dinerence. those are toe game rales." peals ruled unconstitutional a di- 

— Kurt Jannson. toe UN assistant secretary- rective freezing Argentina's dollar 

desk right hours a day writing memos that no general for emergency operations in Ethiopia, deposits for 120 days on May 17, 
one reads, or trying to think up ways to make lauds the present generation of relief workers as Dollar deposits were frozen after 
money so I could live better." a “high quality group." Their efforts, he said. Banco de Italia y Rio de La Plata, 


Sieve Reynolds* 26, of Monrovia, California, to offer. They do not proselytize and they do not 
said: “After working in Ethiopia, I don't flunk I have any illusions that their contribution will 
could be happy going home and silting behind a affect more than a relative handful of people. 


What you do makes a 
difference/ 


The country paid 5250 million in 
back interest this week that 
brought it current to Dec. 30. 1985. 

The central bank received a set- 
back when a federal court of ap- 
peals ruled unconstitutional a di- 
rective freezing Argentina's dollar 


There is Sister Bertilla of India, a member of one reads, or trying to think up ways to make lauds the present generation of relief workers as Dollar deposits were frozen after 
Mother Teresa's Missionaries of Charity, who money so I could live better." a “high quality group." Their efforts, he said. Banco de Italia y Rio de La Plata, 

has worked with refugees throughout Africa. “It Miss Kippenberger. toe New Zealander, said: have been directly responsible for saving count- the nation's third-largesi private 
is my place to hdp," she sai d . “Even if you’re surrounded by children who are less thousands of lives, but few seem to have any bank, collapsed May 10. 

And there is Carolyn Kippenberger, a nurse going to’ die. you can share kindness, water, personal sense of importance and none appear The central bank devalued the 
on leave from a hospital in New Zealand. She food, medical care. In a way, we’re doing what concerned with money or comfort. peso by 18 percent Tuesday to 

- - * “ — * - ” 1 - — * ’ J -- * •*- ' boost exports and comply with rec- 


“lt’s hard to figure out the reasons for cora- 


Jim Kmsella. an Irish agricultural oromendations of the IMF to con- 
1 lbnet who has volunteered his ser- trol inflation. 


Bob Gibson, 45, a cardiologist from Oregon charity agency Concern, said: “I guess I'm just a vices to Concern for two years. “I guess I just 
who is working here as a pediatrician, said: “rot traveler at heart The first time you come out wanted a touch of adventure and a chance to see 
me this is an opportunity to fulfill all toe things 1 you come for all toe good reasons. The second something different and do something that 
thought about when T started medical school. In time, you're.wiser. It’s a difficult life — reward- helped someone else." 
the United States, vou find in a sense that You’re ing, but difficult" He stood in a tin -roofed shed as he talked. 


the United States, you find in a sense that you’re mg. 
working as a cog in the system. Here you really F 


;uess I just On Thursday night. Alfredo 
ance to see Concepcion, the central bank presi- 
thing that dent, ordered a bank holiday for 
Friday. All transactions were to be 
he talked, halted, apparently to head off mas- 


working as a cog m the system Here you really 
fed useful. What you do makes a difference, a 
tremendous difference." 


: Ngafiri, a Kenyan, examining a s 
center for victims of the fa m i n e 


For toe relid specialists, there are few ameni- filling bags with seed grain that would be given shne withdrawals, 
ties. They work from dawn to dusk in isolated along with a hoe to each of 5,000 families who The mow followed a day or jit- 
feeding centers throughout the country. They would scum leave the camp for resettlement, ters in the Buenos Aires financial 
* *p m tents or sheds, eat injara. a pancake This would be toe fust step in getting toe dis- markets. In the black market, the 
ade from grain, and find that the somnv and placed peasants back to their villages 10 prepare dollar shot up from 855 pesos to a 
utaJity of toe famine would be overwhelming for a new harvest. peak of 1 .100. 


Mengele’s Son Gives Documents on Fugitive’s life to Magazine 


- By : James M- Markham 

.Sew Yurie Tinas Service 

BONN;-— The son of Dr. Josef 
Mengefc has given a Munich-based 
weekly fomdieds of photographs, 
letters and other documents depict- 
ing the Nazi war crinunaTs life on 
the ran in South America, an editor 
for the magazine said Friday. 

Norbert SakowskL deputy editor 
in chief ofBunte IDustrierle, said in 
an interview ihanbe popular week- 
ly would commence. publishing a 
series otartictes based on the Men- 
geie materials next week. 

Mr. Satkowski Said that informa- 
tion emerging from the documents 
and fran Rolf Mengefe, 41, son of 
toe Auschwitz phySrian, showed 
that toff Fugitive bad lived in several 
South American countries and 
came to Eurppe“quife a number of 
.times." .. .' 

He. said that family members 
traveled to meet with Dr. Mengde 


“constantly” on their own pass- 
ports. 

“For me. it’s quite unbelievable 
that they never caught him," said 
Mr. Sakowski. referring 10 the hunt 
for the war criminal. 

Earlier reports have indicated 

Pubfirity stHTomidmg the Men- 
geJe case is seen pressuring oth- 
er fugitive N azis. Page 2. 

that Dr. Mengeie returned incogni- 
to to Gunzbufg, West Germany, in 
1959 ip attend his father’s funeral. 

He said that the Mengeie papers 
showed a man who believed that 
toe Nazis had a Darwinian right to 
triumph over the weak and to ex- 
terminate the Jews. 

“Up until the end his opinion 
was mat what be did was right." 
said Mr. Sakowski. - 

[InSaoPaiUo. where the authori- 
ties say they may have uncovered 
the grave of Dr. Mengde, lhe police 


chief said Friday that evidence death camp, where Dr. Mengde 


chief saw rruiay that evidence 
from the medical examination of 
remains exhumed from the grave 
last week was consistent with the 
body being' that of Dr. Mengeie, 
Reuters reported.] " ' 

Mr. Sakowski said that he had 
little doubt about toe authenticity 
of the documents received by his 
magazine, but that a team of histo- 
rians was checking them ouL 

“If you look at tne pictures, there 
is not the slightest doubt," he said, 
and noted that “50 to 100 letters" 
from Dr. Mengde to hrs relatives 
were stamped, “If you read them, 
there's no doubt. It’s very banal — 
how toe weather was, like that." 

Mr. Sakowski said that Rolf 
Mengeie had supplied the cache 
Tuesday and asked for no remuner- 
ation for it. 

He said that if the magazine 
made a profit from selling toe re- 
print rights 10 other publications it 
had decided it would be given to 
toe survivors of the Auschwitz 


death camp, wnere ur. Mcugac 
performed horrific experiments on 
twins, dwarfs and other prisoners 
and became known as "toe Angel 
of Death." 

Mr. Sakowski reached at his 
Munich office, said of Rolf Men- 
geie: “He decided to give the mate- 
rial to us and we decided to pay not 
one penny for iL His motive was 
that ne was burdened by the heri- 
tage of his father. He felt that if all 
of these details were published 
some day. ra very soon, it would all 
be over. 

Rolf Mengde issued a statement 
Tuesday rat behalf of his family 
saying that he had no doubt that 
the body disinterred outside Sao 
Paulo on June 6 was that of his 
father. 

Through a makeshift public rela- 
tions office set up in Munich. Mr. 
Mengeie disclosed Friday in a sec- 
ond statement that he would give a 
photograph of the fugitive taken in 
the 1970s and samples of his hand- 


writing to the Frankfurt prosecu- 
tor's office. The son said he would 
also furnish proof that he visited 
Brazil in December 1979, 10 
months after his father is said to 
have died in a swimming accident 

■ Fingerprint Tests Awaited 

The Sao Paulo police chief, Ro- 
meo Turaa, said that while forensic 
evidence continued to indicate the 
remains were those of Dr. Mengde. 
the first real confirmation of identi- 
ty would come from fingerprints, 
hopefully on Monday, Reuim re- 
prated. 

■ WiesenthaJ Seeks Proof 

In California, Simon Wiesenihal. 
the Nazi hunter, said Thursday that 
he would end the search for Dr. 
Mengeie if experts from the United 
States. Brazil and West Germany 
confirmed that the remains were 
those of the Nazi fugitive. 

He said three American special- 
ists in forensic medicine would go 
to Brazil 10 examine the bones. 



Simon Wiesenthal 


INSIDE 

■ U.S. -Soviet relations have 
failed to improve under toe 
Gorbachev- regime. Page 2. 

■ Prendenr Reagan declared 
that his tax reform plan was 
good for all Americans. Page 3. 

ARTS/ LEISURE 

■ A sale of Khmer sculpture in 
London had some bargains for 
toe careful buyer as well as 
traps for the unwary. Page 4. 

BUSINESS/FINANCE 

■ U.S industrial output slipped 

in May while wholesale prices 
edged higher. Page 7. 

SPECIAL REPORT 

■ Mubarak scores in foreign 

polity, but Egypt’s economic 
problems remain. Page 9. 

MONDAY 

‘In toe Soviet Shadow.’ the first 1 
of a three-part series on the i 
hopes and frustrations of the I 
East European nations. 


y. _ _ 


*. . 








1 



Both U.S. and Soviet Seem Disillusioned AhoutanEarly Thaw WORLD BRIEFS j 


Post Service 

MOSCOW — Soviet-American 
relations have failed to improve in 
an ini dal round of mutual probing 
by a new leadership in the Kremlin 
and the second-term Reagan ad- 
ministration, in the view of senior 
Soviet officials and analysts. 

That probing appears to have 
reached a critical stage, where deci- 
sions by both sides could set the 
course of the Soviet-American rela- 
tionship for the rest of the Reagan 
adminis tration in the view of the 
Soviet figures. 

Any expectations that President 
Ronald Reagan's sweeping re-elec- 
tion victory and the accession to 
power of Mikhail S. Gorbachev. 54, 
might open the way for a dramatic 
bid to improve relations have evap- 
orated, the Soviet sources suggest. 

If anything, the tone of the rela- 
tionship has become more strident 
as both aides appeared at first to 
move toward a get-acquainted 
meeting of their leaders and then 
backed away in mutual suspicion 
that the other side was laying a 
propaganda trap. 

Unstated but evident in many of 
the comments by Soviet foreign po- 
licy advisers is the idea that the 
Gorbachev team, after an initial 
assessment, is dose to deciding to 
wait out the next three years, seek 
public opinion gains since no real 
business can be done now, and see 
what the next U.S. administration 
offers. 

Even small gestures that might 

Soviet Says 
U.S. Envoy 
Was Spying 

The Associated Press 

MOSCOW — Soviet authorities 
detained a U.S. diplomat who, the 
press agency Tass said Friday, had 
been caught conducting “a major 
espionage action." He was ordered 
to leave the Soviet Union. 

In a dispatch attributed to the 
KGB, the security police, Tass 
identified the diplomat as Paul 
Stombaugh and said he was de- 
tained Thursday in Moscow. 

A U.S. Embassy official, asked 
for comment, said it was the first he 
had heard of Mr. Stombaugb’s be- 
ing ordered to leave the Soviet 
Union and therefore was unable to 
confirm the Tass report 
The UJL State Department and 
other agencies do not ordinarily 
comment on espionage charges as a 
matter of policy. 

Mr. Stombaugh, who works in 
the embassy’s political section, said 
he had not heard of the expulsion 
until he was contacted by the Mos- 
cow bureau of The Associated 
Press. 

He declined to comment on the 
charges against him or to say 
■whether he had been detained. 

He was the first U.S. diplomat to 
be ordered from the Soviet Union 
on espionage charges since Lon 
■David Augustenborg, who worked 
at the consulate in Leningrad, and 


have been expected to lessen ten- 
sions seem to have gone awry. A 
visit to Moscow last month by Sec- 
retary of Commerce Malcolm Bal- 
drige, whom Mr. Gorbachev re- 
ceived, produced no visible results 
on trade issues and has left a bad 
taste in die Soviet capital 

Confidence-building measures 
proposed by Mr. Reagan in his 
May 8 speech at Strasbourg, 

NEWS ANALYSIS 

France, such as establishing a hot 
line between U.S. and Soviet mili- 
tary commanders, are discussed as 
insincere or meaningless by the 
Russians. They focus instead on 
what they describe as the presi- 
dent’s apparently willful failure to 
mention the Soviet Union’s role in 
World War II in that speech. 

“We might welcome some of the 
steps the president mentioned in 
the context of a certain polity," 
said Georgj A. Arbatov, bead of the 
Soviet Union’s Institute on the 
United States and Canada “But 
that is not the case. Even if you 
have 10 hot lines in a dangerous 
situation, it still would not be pro- 
ductive. It is the policy that is the 
problem. 

“It would have been better in the 
on the 40th anniversary” of 
end of World War II "to have 
mentioned the Soviet Union than 
to propose these things," he said. 

An underlying theme in con ver- 
sa Lions with Soviet foreign policy 
advisers at this point is that the 


Soviet Union has to a large extent 
disengaged from trying to formu- 
late policies based on Reagan ad- 
ministration actions or proposals. 

Vladimir B. Lomdko, director of 
the press department at the Foreign 
Ministry and a dose associate of 
Foreign Minister Andrei A. Gro- 
myko. said “what is important" is 
that Mr. Reagan and “his adminis- 
tration must get used to the idea 
that it is necessary to stop stockpil- 
ing nuclear weapons now ” 

“What is important is the politi- 
cal and philosophical appro ach," 
he said. “A patronizing attitude by 
one side to the other will not bring 
progress." 

Mr. Lomeiko. speaking before 
Mr. Reagan ap no w 1 " 1 *** his deci- 
sion on accepting the SALT-2 ac- 
cord's limit of 1 ,200 multiple nucle- 
ar warhead launchers and to 
dismantle a nnrl^r submarine, ap- 
peared to be discounting in ad- 
vance the impact of Mr. Reagan's 
decision by stressing the indepen- 
dent nature of Soviet policy. 

Mr. Lomdko reacted testily 
when asked about a recent news 
agency report quoting the editor of 
Pravda, Victor G. Afanasyev, as 
having said that Mr. Gorbachev 
was likely to visit the United Na- 
tions in the fan. This report, which 
associates of Mr. Afanasyev now 
say distorted Ms remarks, stirred 
speculation that Mr. Gorbachev 
and Mr. Reagan might meet in 
New York, an idea both sides now 
appear to have rejected. 

"It was not we who put forward 



e A patronizing 
attitude by one side 
to the other will not 
bring progress/ 


— Vladimir Lomeiko, 
Soviet Foreign 
Ministry spokesman 


this idea" of a Gorbachev trip to 
the United Nations, Mr. Lomeiko 
said. Asked about the possibility of 
a meeting between the two leaders 
in another locale within the next 
year, Mr. I nm^ilcn emphasized the 
problems in arranging such an en- 
counter, even though the Russians 
have given a general positive re- 
sponse to Mr. Reagan’s suggestion 
that be and Mr. Gorbachev meet. 

"It is not a simple process," he 


said, “first and foremost, it has to 
be carefully prepared. Ills an isaje 
that depends on the two tides." 

Both Soviet and US. officials are 
reticent in discussing the meeting 
between Kir. Gorbachev and Mr. 
Baldrige, and few details seem to 
have filtered out Bat some reports 
here suggest that the Russians con- 
cluded that Mr. Baldrige had been 
engaged in a testing operation of 
Mr. Gorbachev. What may have 


been an acrimonious 
probably retarded chances 
early meeting. 

The meeting "was not a water- 
shed in Soviet American relations," 
Mr. Arbatov said. “It did not make 
any improvement.” 

He added: "In fact, we continue 
to be in something dose to ft state 
of economic warfare.” 

Mr. Gorbachev’s dotation to see 
the American cabinet member was 
probably intended “to show that he 
honestly is for an improvement in 
Soviet-American relations," ac- 
cording to Mr. Arbatov. “He had to 
deal with die timer fact rtf how his 
saying no to a request from Mr. 
Baldnge to see him would be as- 
sessed outside the Soviet Union." 

The continuing dispute over 
arms control which has shifted 
from Soviet pressure to block the 
deployment of U.S. missiles in 
Western Europe to Soviet opposi- 
tion to Mr. Reagan’s Strategic De- 
fense Initiative for plaanga mistile 
defense in space, appears to have 
pr re t tad f ri & Russians noth- 

ing more tbun symbo li c 
be made at a meeting of far. Gor- 
baefaev and Mr. Ragan at this 
point. 

Moreover, they appear to have 
concluded that tne Reagan admin- 
istration has reached the same be- 
lief, and is maneuvering for maxi- 
mum advantage in the of 
public relations by insisting on Mr. 
Gorbachev’s coming to 
ton as the price for a meeting. 



explosives into a Lebanese .Army position in West Beirut Friday evening, 
killing 2 3 persons and wounding 36. the state radio soul j 

The attack was made against the army's mainly Shiite Moslem $Ui 
Brigade, which is deployed in West Bcinit. The state radio said amoaglhe 
23 persons kflkd were three soldiers. Soldiers said two men were riding in 
the car and were killed when the automobile exploded. 4 

The state radio issued appeals through radio stations for “urgent blond 
donations and for all doctors to report immediately to duty ax hospital^ 
save the lives of victims." It was the first major explosion m Beirut 
car bomb in a Christian East Beirut neighborhood on May 22 kdfabSS 
persons and wounded about 200. J 

Iraq Says It Will Stop Shelling Iran 

BAGHDAD (AFP) — Iraq will stop tittiling Iran for two wefts 
“ ~ I dam Hussein said Friday. ' 


starting Saturday morning, Pretideat I ... 

He said the daarion bad been taken to give Iran another chaac?(o 
think about peace and for the Inman people to pat pressm an jts 

government to end the conflict. , 

Mr. Hussein said that Iraq could resume its attacks if the Inmiini 
shelled Iraqi towns, launched a new attack against Iraq or massed als 
troops for a new offensive, or if the offer of peace was rejected. The 
announcemen t came on one oT the heaviest days of bombing by b$th 
tides since attacks on civilian objectives resumed on May 25 aP " • • 
six-week luIL - 

Force-F eeding of Sakharov Reported 

OTTAWA (UPI) — The Soviet dissident physicist, Andrei D. Sakha- 
rov, was force-fed, suffered a stroke and lost consciousness days after he 
strike in May 1984, Dr. Sakharov's wife said In a letter 


began a 
that was 


to reporters here Friday. 



EC Panel Reportedly to Ignore Veto 

Official Says Commission Wffl, Cut Grain Price Subsidies 


Tatiana Yankdcvich, Dr. Sakharov’s daughter, wept .openly as she rfcad 
portions of the letter, written in November % the physicist’s wife, Yettna 
G. Bonner. A copy of the letter, received Thursday by Mrs. Yanketevich, 
was released publicly in Ottawa, where delegates from 35 countries .are 
attending a human rights conference. The letter was sent to friends of ihe 
Sakharovs in the Soviet Union and made its way to Mrs. Yankdcvidi at 
her home in Massachusetts. 

“On May D." the letter said, “he was force-fed, at first intraveno^v 
then by tube through the nose . . . all very excruciating." According traL* 
letter. Dr. Sakharov had a stroke and lost consciousness and later 
exhibited symptoms associated with Parkinson’s disease. Dr. Sakharov 
and his wife, who have been living in internal exile in Gorki a dty closed 
to foreigners 200 miles (325 kilometers) east of Moscow, have not been 
seen by friends or colleagues since Feb. 25. ! 


Tto /snooted Pro* 


Prime Minister Bettmo Craxi of Italy, left, and President 
Francois Mitterrand of France flew from Florence to Pisa 
after discussions that touched on EC members’ right to veto. 


Reuters 

-BRUSSELS — The European 
Community’s executive body will 
force cuts in subsidized grant prices 
despite a West German veto, a se- 
nior official mid Friday. 

The chief adviser to Frans An- 
driessen, the community’s agricul- 
ture commissi oner , said the Execu- 
tive Commission would reduce 
prices to ensure that grain markets 
operated smoothly in the absence 
of an agreement among the govern- 
ments. 

“It is not a price-fixing as such, 
but its effect will be exactly the 
same," Carlo Trojan said at a con- 
ference on grain. 

The new price for rapeseed is to 
become effective July 1, and prices 
for other grains on Aug. 1. 

Bonn blocked a 1 -8-percent price 
cut Wednesday with the first veto it 
has ever exercised, causing a new 
crisis for the community and block- 
ing plans to change its agricultural 
policy. 

Mr. Trojan said the commission 
would take steps to prevent specu- 
lative grain sales, to normalize 
trade and to keep within the EC 
budget. 

He gave no details but predicted 
that the market would be managed 
“in line with the final compromise 


proposed to ministers," referring to 
the plan for a E 8-percent price cat 
Diplomats said the Executive 
Commission’s move, which in- 
volved a radical interpretation of 
its powers, could exacerbate its dis- 
pute with Bonn. They predicted the 
measure would rally behind West 
Germany those nations that sup- 
ported the right of veto but dis- 
agreed with Bonn on the grain price 
subsidies. 

The West German agriculture 
minister, Ignaz Kiechle, has 
blamed the commission for the dis- 
pute. arguing that it has refused to 
seek a compromise. 

Official West German sources 
said Friday that Bonn bad used its 
veto because the Executive Com- 
mission was exceeding its power to .to plans for more majority voting in 
“an unprecedented extent* — 

The sources said the issue would 


cation for Bonn’s move -SS£ U.S. Suspends Cuban Immigration : 


vmang- 

He said the incident reinforced 
the argument that a country should 
clearly demonstrate the claim rtim 
its vital national interests were at 
stake before exercising its power to 
veto. 

Mr. Craxi said that be and Mr. 
Mitterrand agreed that “a real and 
genuine abuse of the right of veto" 
was tliH«tBiing to paralyze the 
community. 

The West German riwrigon ramp 
two weeks before the s ummi t con- 
ference of EC leaders in Milan, 
which is to be chaired by Mr. Craxi 

Mr. Craxi and Mr. Mitterrand 
devoted nan of their talks tins week 


force West Germany to reconsider 
its previous support of moves to 
give the commission and the Euro- 
pean Parliament greater powers. 

■ Craxi Criticizes Veto 

Prime Minister Bettino Craxi of 
Italy condemned Friday the veto 
by West Germany. Reuters report- 
ed from Florence. 

Speaking at a news conference 
after two days of talks with Presi- 
dent Francois Mitterrand of 


EC institutions. 

■ Gomecoa Proposes Relations 

Comecon. the East bloc trade 
alliance, officially proposal a re- 
sumption of talks Friday aimed at 
establishing formal relations with 
the European Community. The As- 
sociated Press reported. 

Foreign ministers of the EC had 


WASHINGTON (AP) — The Reagan administration said Friday (hat 
it would suspend admission of Cuban immigrants to the United Stales. 
The move, which followed a disagreement with Havana over radio 
broadcasts to Cuba, virtually- ended a refugee agreement reached in 
December. f 

About 1,000 Cubans wh o had received visas were immediately affect- 
ed. About 300 others had already entered the United States. : 

The December accord bad a ppe are d to dear the way for up to 20,000 
immigrants a year as well as 3,000 former political prisoners. About 2.500 
so-called “undesirables" from the 1980 "boatfift." some of them mcqpfly 
ill or criminals, were to be accepted by Havana. Visa processing was to be 
resumed in Havana. 

Cuba suspended its obligations under the agreement after the Reagan 
administration began operating Radio Marti, which broadcast reports to 
the island denounced by Havana as propaganda. ■ 

Delors Urges Talks With U.S. on SDI 

BRUSSELS (Reuters) — The president of the European Commission, 
Jacques Delors, called Friday for talks with the United States to prevent 
U-S. research into space-based missile defense systems from causing 
scientists to leave Europe. 

Mr. Delors said it was impossible to prevent companies from bang 
lured by proposals under the plan, which the US. administration has 
named the Strategic Defense Initiative, or SDL and which will receive $26 
billion over five years. 

“What we need is negotiations with the United States," he said at a 
news conference after a meeting of industrialists. “Otherwise < 


agreed last weekend to respond fa- ■ for SDI will go to On: European supermarket, look he 

vorably to such an offer. The pro- 
posal was first broached last month 
to Mr. Craxi by Mikhail S. Gorba- 
chev. 


Mengele Publicity Seen Pressuring Nazi Fugitives 


his wife were detained and accused 
of spying. 

Tass said Mr. Stombaugh was 
apprehended “in the act of con- 
ducting an espionage action." 

• “ "A major espionage action by 
United States special services 
against the Soviet Union was cut 
short," the agency said in a dis- 
patch headlined “In the State Secu- 
rity Committee of the UJS.S.R." 

“Materials fully exposing this 
staff member of the United Stales 
Embassy as engaging in espionage 
activity incompatible with his offi- 
cial status were obtained in the 
course of the investigation,'’ Tass 
said. 

“For his unlawful actions. Paul 
Stombaugh was declared persona 
non grata and is being expelled 
from the Soviet Union." the three- 
paragraph report said. 

Mr. Augustenborg was ordered 
out of the Soviet Union on Sept. 1 2, 

] 983. after he and his wife, Denise, 
were detained and accused of try- 
ing to collect what newspaper re- 
ports called a "spy container." 

Earlier in 1933, a U.S. economic 
attache, Richard Osborne, was 
seized in a Moscow park reportedly 
while trying to make a radio trans- 
mission. 


By Tyler Marshall 

Lot Angeles Tunes Service 

BONN — The publicity sur- 
rounding efforts in Brazil to identi- 
fy human remains believed to be 
those of Josef Mengele, the Ausch- 
witz concentration camp doctor, is 
likely to increase pressure on Nazi 
war criminals still at large, accord- 
ing to West German officials in- 
volved in the investigations. 

“Whenever there is a major find 
or a lot of publicity, it brings others 
up. too," said Alfred Streim, direc- 

Largest Catholic Church 
In Beijing Will Reopen 

Reuters 

BELTING — Beijing’s largest 
Catholic church, winch has been 
closed for almost 20 years, will re- 
open later this year after restora- 
tion work costing 5350.000. the 
Xinhua news agency said. 

The agency said that repair work 
on the Pehtang Cathedral, built in 
IS87 at the aid of the Manchn 
empire and closed during the Cul- 
tural Revolution, began last month 
and would be completed by the end 
or the year. Beijing now'has two 
churches open to serve its 30,000 
Catholics. Xinhua said. 


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tor of the Center for the Investiga- 
tion of Nazi War Crimes in Lad- 
wigsbuig, a few miles north of 
Stuttgart The center is the princi- 
pal West German gpvemment in- 
stitution devoted exclusively to 
gatluring evidence about fugitive 
Nazi c riminals. 

“We are optimistic the Mengele 
affair will generate new pressure on 
the big names," said Mr. Streim. 
who has worked at the center for 22 
years. 

The passage of tune, deaths of 
some of those on the run and, occa- 
sionally, the arrest of an old Nazi 
have all reduced the center’s case- 
load. From a peak strength of 50 
prosecutors and a staff of 130 in the 
late 1960s. the center now operates 
with 10 prosecutors and a back-up 
staff of about 40 people. 

Still, despite the passage of four 
decades since the end of World 
War H. Mr. Streim said, new evi- 
dence continues to come into the 
center and 30 new cases have been 
opened this year. 

About a dozen Nazi war crimi- 
nals who Mr. Strain calls “big 
names" are still believed to be in 

hiding. 

Approximately 135 cases, mostly 
involving minor war criminals, are 
pending. 

“Three are people well down the 


chain of command," Mr. Streim 
said. 

Although none of the prominent 
Nazis at huge compare to Dr. Men- 
gele in notoriety, their crimes are 
considerable. 

Alms Brunner, as a senior mem- 
ber of Hitler’s elite SS, the organi- 
zation charged with administering 
the concentration camps, helped 
Adolf Eichmann arrest and deport 
Jews from Vienna, and signed de- 
portation ordas for an estimated 
46,000 Greek Jews in 1943. Most of 
those deported died at the Ausch- 
witz camp in Poland. 

The Wert German authorities 
say they believe that Mr. Brunner is 
living under an agamy*! name in 
Syria, most likely in Damascus. 

The public prosecutor’s office in 
Cologne, which is in charge of the 
Bnumer case, issued an extradition 
order this year, partly, Mr. Streim 
said, because there were hints of a 
change in the Syrian government 
position on the matter. However, 
there has been no breakthrough. 

A March 1983 report in the 
Tunes of London identified Mr. 
Brunner as living as an Austrian 
pensioner under the name Gauge 
Fischer in Damascus. The newspa- 
per said that Mr. Fischer lived un- 
der armed government protection 
and at one time had served as an 


adviser to the Syrian security po- 
lice. 

Waller Kutschmann, who is ac- 
cused of murdering an estimated 
2/MQ Jews while serving as a lieu- 
tenant in the SS, is thought to be 
living in Bnenos Aires, also under 
an assumed name. 

Josef Sc fa w am mberger. who was 
commandant of the Preemysl con- 
centration camp in Poland, also is 
believed to be living in Argentina. 

West Germany’s 20-year effort 
to obtain the extradition from 
Chile of Walter Rauff, who orga- 
nized convoys of mobile gas cham- 
bers in which on estimated quarter 
of a million people were killed, 
ended last year. Mr. Rauff, who 
had lived in Santiago since the ear- 
ly 1960s, died days before a Wert 
German courier with a fully docu- 
mented chaise sheet was scheduled 
to go to Santiago. 

There is also success, as was 
proved two years ago when Bofivia 
expelled the Gestapo officer Klans 
Barbie, who presided over the kill- 
ings and droortations of thousands 
of French Jews from 1942 to 1944. 
He is now preparing to stand trial 
in France. 

“As long as we continue to get 
evidence and as long as Nazi crimi- 
nals are still free, we have a job," 
Mr. Slreim said. 



Peter Boemsch 


Bonn Aide 


A •- not nd it 

yurts, Cites g—- 


CHURCH SERVICES 


PAWS 

AMERICAN CATHEDRAL IN PAMS, 23 Ave. 
Gmso-V, 75008 Porb. Tha V«y Ray. 
James R. Leo, Deal. Metro: George-Y or 
Alrao-Marceau. Sunday: 9 art., 11 a.m. 
Church school and nunory 1 1 am. Week- 
day*.- 12 noon. Tel.. 72G.17.92. 


CENTRAL BAPTIST CHURCH, 13 Rue du 
VieuK-Colombi e r, 75006 Park. Metro St 
Sufpkce. Sunday worship in Engfah 9t45 
ojn.. Rev. A. SocnmerviBe. Tel.: 607.67.02. 


PAWS SUBURBS 

EMMANUEL BAPTIST CHURCH, ReuiUAd- 
maiMn. EnyTofi speaking, afl denomino- 
Scm, SUe study; 9M, wor s hi p: 10U5. 56 
Am Bons-Rafems. Tel.: 749.15.29. 


EUROPE 

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activitiw in Europe. Contact EUU, Stove 
Dick, Seringstiaat 20, 1271 NCHuizen.The 
Netherlands. To].: (+31) [0) 2152 55073. 


STOCKHOLM 

IMMANUa CHURCH neor dty center. 
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Td.i 747.12.65. 


Solidarity Activists Sentenced 
To Prison Terms in Poland 


United Press International 

GDANSK, Poland — Three ac- 
tivists of the outlawed Solidarity 
labor movement were sentenced 
Friday to prison terms ranging up 
to three and a half years. But Lech 
Walesa, the movement's leader, 
vowed that the Solidarity under- 
ground would continue despite 
government repression. 

Presiding Judge Krzysztof Zen- 
fGuk sentenced the dissidents. Wla- 
dyslaw Frasyniuk. Adam Michnik 
and Bogdan Lis. to prison for plan- 
ning a 15-minute strike to protest 
food price increases. The strike was 
canceled when the government re- 
vised the price-increase plan. 

The three were accused of run- 
ning the underground Solidarity 
headquarters and trying to over- 
throw Poland's Communist system. 

Mr. Frasyniuk was sentenced to 
three and a naif years in prison, Mr. 
Lis to two and a half years and Mr. 
Michnik to three years, Poland’s 
official PAP news agency said. 

The convictions were viewed as a 
particularly stern warning to Mr. 
Walesa, woo has said that he pre- 


sided at the meeting at which the 
three men were arrested. 

“The verdict evokes deep con- 
cern," said Mr. Walesa, who was 
not charged. 

“We were dealing with a con- 
scious provocation crushing all 
hope for the building of a dia- 
logue " be said. “They want to say 
that whoever is obedient will not go 
to jail.” 

Mr. Walesa said that the authori- 
ties were “politically deviated peo- 
ple," adding: “It is 'their sickness." 

He said that he and other activ- 
ists would keep alive the Solidarity 
union, which was banned following 
imposition of martial law in De- 
cember 1981. 

■ Madrid Official Cancels V kSt 

Foreign Minister Fernando 
Morin of Spain has postponed a 
visit io Poland because the Warsaw 
government objected to his plans to 
visit the grave of the Reverend 
Jerzy Popiduszko, Reuters report- 
ed Friday from Warsaw. Members 
of Poland’s security forces were ' 
found guilty of killing the priest an 
outspoken Solidarity supporter. 


Tax Inquiry 

Reuters 

BONN — The West German 
government's chief spokesman, Pe- 
ter Boenisch, resigned Friday be- 
cause of an investigation against 
him by tax authorities, the press 
office announced. 

The statement said Mr. Boenisch 
had asked Chancellor Helmut Kohl 
to relieve him of his post because of 
the inquiry, which involved a peri- 
od before he was spokesman. 

A spokesman for the West Berlin 
state prosecutor said Friday that he 
opened an investigation of tax eva- 
aon against Mr. Boenisch in April 
but that no charges bad so far been 
filed. He gave no details of the 
amount involved. 

Mr. Boenisch, 58, was appointed 
in 1983 as state secretary in the 
Press and Information Office, a ju- 
nior cabinet post. 

A flamboyant character and a 
confidant of Mr. Kohl, be held se- 
nior posts in the Springer publish- 
ing empire, including top editorial 
johs with the tabloids Bud and Bild 
am Sonntag. before resigning in 
1981 to do freelance writing. 

In his letter to Mr. Kohl he said 
he was resigning to avoid embar- 
rassing the government. 

The press office said that Mr. 
Kohl had accepted the resignation 
with regret and thanked Mr. Boen- 
/sefa for his services. 

The announcement said that Mr. 
Boenisch had been succeeded by 
Friedbelm Ost, who runs a popular 
television weekly economic and so- 
cial affairs program. 


things in the window that interest them and cany them off bade home." 

Mr. Ddors said that a number of conditions had to be met if Europe's 
Eureka plan for technological research, proposed by President Francois 
Mitterrand of France and due to be discussed this month at a summit 
meeting of European Community leaders in Milan, was to become a 
credible alternative to SDI. In particular, be said, substantial resources 
and a dear organizational framework would be needed. 

f 

For the Record 

The last remaining Canaifian (fiptomais in Lebanon left the Country-Tor 
the Syrian capital of Damascus because of the deterioration in security, 
diplomatic sources said Friday. CAP) 

Hie United Airlines pitots’ ration continued its study of a tentative 
contract settlement Fnday. The pilots have a Saturday deadline to 
approve the pact. (OPI) 

North Korea has agreed to Sooth Korea’s proposal to hold a preliminary 
meeting July 9 at Pannwnjom to discuss the opening of interparliamen- 
tary talks, officials said in SeouL (AFP) 

About 800 Norwegian oO workers went on strike Friday and wilt be 
joined by 2^00 others on Saturday, virtually shutting down test doffing 
and oO production on the Norwegian continental shelf. (AFP) 

Twenty -eight deaths or stiDbiiths since April have been linked to 
c ontaminat e d cheeses. California state health officials annotmced^Tie 
manufacturer of the cheeses has dosed voluntarily, and recallsr?erc 
announced in California, Arizona and Texas. f4P, 

South Africa Attacks Targets 
Of Insurgents in Botsimna l 

He also said, however, that -gre- 
nade attacks on two legislators oi 
mixed racial descent last Wednes- 
day had been“*the last straw." The 
African National Congress had de- 
nied that it was responsible for the 
grenade attacks. 

Gaborone lies a short distance 
from the border between South; Af- 
rica and Botswana. Gener#V3- 
joen indicated that small squads of 
com m a n dos crossed the border and 
split up into groups to launch si- 
multaneous attacks on each of the 
10 targets. Another unit guarded 
the highway to facilitate escape. 

At one pant, he said, a car sped 
toward the unit holding the high- 
way and its occupants opened' fire 
on the South African commandos, 
who fired back, kflling two persons. 

A Dutch citizen living in Botswa- 
na was said to be among the dead. 
General VHjoen said 13 persons 
were killed in the attacks on houses 
and offices and that two persons 
wae killed in the car. Additionally, 
he said. Radio Botswana had re- 
ported the death of the six-year-old : i 
girl apparently one of two chi f 

reported to him, he said, as wo" 
ed in cross-fire. 

■ U-S. Questions Sincerity 
The attack .on Botswana raised 
“the most serious questions abort 

Snntk ■ . 


(Continued from Page 1) 
not rid its territory of r emaining 
: Atri 


of the African National 
_ . the most prominent of 

exiled groups seeking the violent 
overthrow of white minority role. 

A spokesman for the Congress in 
Lusaka, Zambia, denied South Af- 
rican assertions that Botswana was 
bong used as a transit route to 
infiltrate saboteurs into South Afri- 
ca. 

Hie African National Congress 
is due to hold a major conference- 
soon, and South African commen- 
tators said the raid seemed de- 
signed in part to disrupt the gather- 
ing. 

The raid also came onty two days 
before blacks w31 observe the ninth 
anniversary of the uprising at the 
black ghetto in Soweto. 

South African political and mili- 
tary leaders said Botswana had re- 
fused to heed demands for the ex- 
pulsion of the insurgents and had 
thus left them with no choice but to 
strike at their purported bases in 
Gaborone 

The South Africans also accused 
the Palestine Liberation Organiza- 
tion of training the Congress’s in- 
surgents in assassination and sabo- 
tage techniques. 

At a news conference at an air 
base near Pretoria, General Viljoen 
said that, since South Africa signed 
a non aggression pan with' Mozam- 
bique on March 16. 1984. the Afri- 
can National Congress had shifted 
its operational personnel to Bo- 
tswana. 

_ “The aim of the operation was to 
disrupt the nerve center of the 
ANC machinery" he said, refer- 
ring to the African National Con- 
gress. 

“We were ready to hit the targets 
a long time ago." be said. But he 
sari South Africa had held off be- 
cause of political considerations. 


ii.v 

I- - *'" 


M/'- 




. V,ji 

Ji;p. 


South Africa’s sincerity” in the ne- 
gotiations with the united States 
on bringing about a peaceful reso- 
lution to southern Africa's prob- 
lems, United Press Inuanatiowl 
quoted Mr. Kalb as saying. 

He described the attack on' Bo- v 
tswana as “particularly deplor- i . 
able" and said the South . 

had failed to come up with a g 
factory explanation for the , 
race of a heavily armed jmSWr* \ 
group 1,000 miles (1,600 
rersj inside Cabinda, Angola- / ■ 
South Africa has giH the gf®*P >.Y‘ 
was on an intelligence mission. 




INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 15-16, 1985 


Page 3 


v:-; ■ - "..,?»(■ 


It ^ ill 


AMERICAN TOPICS 




- • ■ •• 

' * *' Vrts.T9 


■ ■ ^ 



« »l'an lmmignj 

.. • "••■'H.v-r 



; r«3a-1 


‘j: 

s.i 


FOUR-STAR HERO — President KeaampiDS a new 
star on General Junes H. Doolittle, 88. The hero of 
World War H, who holds the Medal of Hodw, became 
die first f oar-star general in the air fane reserve. 


Getting TTiroa^i 
Tlie Revolving Dow 

When l anghome A Motley 
leaves office next month as as- 
sistant secretary of state fra: in- 
ter-American affairs, he will 
probably open a consulting 
firm with several Brazilian boa-' 
nesses as Ins first clients. Mr. 
Motley has dealt with many of 


r”*‘- r.iik- w itii r.s.ot 


*cu 


these same' people as assistant 
Ai ~" secretary of state. 

No arrangements werc con- 
dnded in advance, The Wash- 
ington Post reports, and the 
State Department deputy coun- 
sel, Mi chad Kozak, stud Mr. 
Motley, 47, provided a list af-afl 
his prospective dieats and re- 
moved himself from any mat- 
ters concerning them. 

In this example of the legend- 
ary Washington revolving door 
that carries many loaner dvfl 
servants onto, the payrolls of 
companies they dealt with while 
in government, Mr. Kozak said 
he gave Mr. Motley, these roles 
he could iatk 
anybody, on his own time, 
bat he could have no official 
dealings thereafter with them 
while in office. 

“He said he wanted to be 
totally straight and pure on 
this.” Mr. Kiozak said. “1 wish 
here were as careful 
has been.” 


rerriuf 


Urn inf 






• J-r - “7 


if rim 
utrumh 


Short Takes 

As pofice chief of Sah Juan 
Bautista, California, Loony 
Huribut, 49, wears a 10-gallon 
hat, open shirt, black vest, 
jeans, Western boots and ahd- 
I stcr on his hip for his 357 mag- 
num revolver at all times, even 
when the 1, 400-population 
town isn't thronged with tour- 
ists visiting nearby historic 
shrines. “People love it,” the 
- y sheriff said of his cowboy look. 
rrjjBul where’s his- bond? “You 
• * can’t do poEce work riding a 
horse, other than traffic patrols 
in big cities." he said. “Anyway, 
the town can’t afford to feed 
and care for a horse." 


i'ttirh ft 
in HoW* 


-v 


Color photographs of Presi- 
dent Ronald Rea&u on display 
at the White House mrimta one 
of ins controversial visit to the 
war cemetay at Bitburg,' West 


Germany, last month where 49 
Nazi SS troops are among the 
i Wwt Wouldn’t the administra- 
tion rather forget that visit? 
Pete Roussel, deputy press sec- 
retary, said other parts of Mr. 
Reagan’s European trip are dis- 
played and “n we didn’t have 
one up there for Bitbmg we’d 
be asked why it wasn’t there." 

S commencement ad- 
the dass valedictori- 
y the graduating se- 
nior with (he Merest academic 

■rtarvting, began going out of 

favor with the fiery activist 
speeches ' that many of them 
were giving riming the 1960s. 
More and more caxnpnses pre- 
fer speeches by well-known fig- 
ures who will attract news cov- 
erage. 

Shorter Takes: The U.S. 
blade population grew twice as 
fast as the white population 
from 1980 to 1984, reaching 
28 j6 rmffion, or. 12J percent of 
all Americans, according to the 
ILS. Census Bureau. . . . 
Thanks ‘in part lo restrictions 
on Japanese imports, the car- 
manufacturing state of Michi- 
gan is rapidly recovering from 
its recent depression. Unem- 
ployment, for example, has 
dropped from 17 percent two 
years ago to 10 percent today. 
...San Diego is pioneering dis- 
tribution of federal food stamps 
by automatic teller machines, 
much like those used by banks. 


Fewer Dog Bites, 
More PeopleBites 

Cases of dogs biting people 
still outnumber cases of people 
biting people in New York City, 
according to the dty health de- 
partment 10^59 to 1^93 last 
year — but bites by people have 
been increasing for six consecu- 
tive. years, while bites by dogs 
are on a. downward trend. 

When man ' bites dog that 
wfll still be news, according to 
MarvmBqgner; fee department 
spokesman. “We lave had no 
reports of man biting dog, but 
that is probably bemuse dogs 
don't phone in;* ho said. 

ARTHUR 


Rev. Nikolai EsHiman, 57, 
Rebel Russian Priest, Dies 


New York TintesSernce 

. MOSCOW— The RevereatfM- 
kiolai Esfalhmh, 57, a ; Russian or- 
thodox priest who co-anthored a 
powerful critique of Ms 'dmrch in 
■1965, died last. Saturday after a 

serious illness. - - - - 

• Father EshHman, who distanced 
himself from fee dmrch and from 
dissident activities after the contro- 
versy ova- Ms open letter^wHS bur- 
ied with the rites of a layman. He 
had been suspended from priestly 
duties as a result of fee ler ter. 

• In 1965, Father Eshfanan end 
another parish priest from lh& 
Moscow area, Reverend Gl<h Ya- 
kunin, wrote a long and detailed 

i letter to the head of theRus- 
Orfeodox Church at fee time, 
late Patriarch Alexei, Comes of 
fee letter were sent to all bishops 
' and quickly became widely knowm. 
The two priests wrote of the mass 
, .-dosing of churches and mtnasset- 
„ l W’*'";v ies under Khntfedrev and charged' 
. - feat the government's Council for 

" Religious Affairs had become an 
* '. organ of iHegal control over fee 

' ■’church. 

They wrotcof thedtedrt^isliar 
• don of baptisms, fee ban on ser- 
'vices in homes and cemeteries, the 
, estrangement of chfldren from the 


jjifeorities in . fee affairs of fee 
churches. - ‘ : 

The patriarch demanded feat 


Reagan Stoutly Defends 
His Income Tax Reform 
As Good f or All Citizens 


By Gerald M. Boyd 

New York Tines Service 

BLOOMFIELD, New Jersey — 
President Ronald Reagan mounted 
a spirited response to critics of his 
tax plan in a speech here, saying the 
proposals did not favor any state 
and would not harm taxpayers in 
high-income-tax states Eke New 
York. 

The president sprite to several 
thousand flag-waving enthusiasts 
on one of several trips around the. 
country to press the case for his 
proposed tax reviaon. 

Bloomfield is about 15 miles (24 
kflomeiers) from New York, -where 
Mr. Reagan's proposal to end the 
federal deduction for state and lo- 
cal taxes has aroused vehement 
criticism. 

Governor Mario M. Cuomo of 
New York, a Democrat, is & key 
opponent of fee provision, winch 
uA officials have called vital be- 
cause the revenue it would provide 
would help offset cuts elsewhere. 

The president said the current 
income tax system was “ready Cor 
the ash heap of history” and that 
Congress faced fee difficult task oF 
replacing it with one (bat is “fair 
and easy to comprehend.” 

The plan would simplify individ- 
ual tax rales, end the exemption for 
state and local taxes, increase al- 
lowances for individual exemptions 
and cut from 15 to three the num- 
ber of tax rates. 

The president’s visit to New Jer- 
sey for a speech devoted exclusively 
to his tax plan marked a renewed 
effort by the White House to use 
Mr. Reagan’s popularity to muster 
support on fee tax issue. 

Bloomfield, wife a population of 
50,000, was chosen to give the pres- 
ident a small-town backdrop that, 
seen on television, comes across as 
U.R community. 

: president said, without nam- 
ing names, that opponents were 
trying lo block his tax revision pro- 
gram, width he contended would 
benefit the family, reduce the influ- 
ence of special interests and allow 
people to get ahead. 

“Our tax reform is not without 
its foes,” he said. “There are those 
who won't oppose it outright but 
who’ll try to nickel and dime it to 
death. Others will use any false 
argument they can, any scare tac- 
tic, to doud the troth and raise 
confusion. 

“There are those who say our tax 


Representatives of capital-inten- 
sive industries told a House panel 
Thursday that fee cutbacks u in- 
vestment incentives in Mr. Rea- 
gan’s tax plan, proposed as a way 
to pay for tax cuts for individuals, 
could cost many workers their jobs. 

Executives of the Inland Steel 
Co. and the Houston Natural Gas 
Corp. said that a number of expan- 
sion projects planned could be 
jeopardized if the Reagan lax revi- 
sion plan were enacted. 

They told fee tax-writing House 
Ways and Means Committee that 
the loss of the investment tax credit 
and cutbacks in accelerated depre- 
dation would make the projects no 
longer profitable. 

Kenneth L, Lay, chairman and 
chief executive officer of Houston 
Natural Gas; said his company’s 
plans for a 5550-million hydrocar- 
bon pipeline to Florida might be 
scrapped because the projected 
profitability of the project would 
be reduced 38 percent by the plan. 

Frank Luerssen, chairman of In- 
land Steel, called the president's 
‘dangerous." 


Ex-FBI Agent, Accused of Spying, Describes Affair 


By Judith Cummings 

New York Tima Service 

LOS ANGELES — Richard 
W. Miller has testified that be 
was acting out “a James Bond 
■ kind of fantasy” last year when, 
as an agem of the Federal Bureau 
of Investigation, he became sexu- 
ally involved with a Russian im-; 
migrant now accused of spying! 
The relationship, he said, “just 
sort of came wife the territory." 

Mr. Miller, fee first FBI agem 
ever accused of spying, gave de- 
tails Thursday of his affair wife 
fee wo man, Svetlana Ogorodni- 
kov, whom he said he bad hoped 
to develop into an informer. 

The agent was dismissed by fee 
FBI last fall and he is accused of 
conspiracy to commit espionage 
wife Mis. Ogorodnikov and her 
husband, Nikolay, through fee 
passing of secrets to the Soviet 
Union. Mr. Miller , 48, is testify- 
ing as a government witness at 
fee trial of the Ogorodnikovs in 
Federal District Court here. 

His trial win be scheduled lat- 
er. 

The Ogorodnikovs have denied 
spying. Mrs. Ogorodnikov, 35, 
asserted that she thought she was 
helping fee FBI through her deal- 
ings wife Mr. Miller. 



■**. i,. 


Richard W. Miller 

Judge David V. Kenyon cau- 
tioned jurors on Thursday to 
avoid news accounts of other spy 
cases after learning that two ju- 
rors and two alternate jurors had 
heard reports of a remark by Sec- 
retary of Defense Caspar W. 
Weinberger that convicted spies 
should be executed. 


The instruction came after law- 
yers for Mis. Ogorodnikov com- 
plained that the comment was 
very prejudicial to their case. 

Mr. Miller’s testimony on 
Thursday came after earlier 
tough questioning by the prose- 
cution. The former FBI agent, 
who is married and has eight chil- 
dren, admitted feat by fee time 
be met Mrs. Ogorodnikov he had 
a history of philandering and had 
been excommunicated by the 
Mormon Church for adultery. 

He also admitted that be had 
been rated “minimally accept- 
able" as an FBI agenL had im- 
properly used his job for financial 
gain and' had stolen money from 
a family member and also from 
an elderly woman informer. 

Mr. Miller repeatedly denied, 
however, feat he had been having 
major financial problems, noting 
that his salary was about $50,000 
a year and that wife worked as a 
teacher. 

Mr. Miller said feat part of his 
motivation in getting involved 
wife Mrs. Ogorodnikov had been 
that he wanted to redeem himself. 

“I wanted to improve my sta- 
tus with my fellow employees be- 
cause 1 didn't fed 1 had much 


respect,” be said He added that 
from the date of his second meet- 
ing wife Mrs. Ogorodnikov, he 
had thought “she could be a veri- 
table gold mine." 

He said that she had contacted 
him. offering information on So- 
viet immigrants and asserting 
that she had contacts in the KGB. 
the Soviet intelligence agency. 

“If 1 could pull this olT," Mr. 
Miller said, “at least in terms of 
my employment I'd come out a 
hero." 

He said he knew it was "im- 
proper” to have sex with an FBI 
informer, which is how Mis. 
Ogorodnikov has characterized 
herself. He did not report the re- 
lationship to his supervisor. 

“I was very embarrassed." Mr. 
Miller said, remarking that the 
sexual encounter was “not a bu- 
reau activity.” 

He said that he had discussed 
with his supervisor. Gary Auer, 
and a fellow agent. John E. Hunt, 
his first meeting with Mrs. Ogor- 
odnikov. in May 1984, and her 
offer of information about immi- 
grants. They warned him. he said, 
“to proceed wife a yellow light of 
caution." 

He had dinner with her the 
some day. 


In Swap of Spies, Physicist Was Key 

OfficiahStiyEmtGerm Was Eager to Get Him Back 


By Kathy Sawyer 

Washington Post Service 

WASHINGTON — Alfred 
Zehe, an East German physicist, 
was the key to fee successful con- 
clusion of three years of negotia- 
tions that led to the exchange Tues- 
day of four Soviet bloc spies for 25 
persons who bad “been helpful” to 
the United States, according lo 
U.S. sources. 

They described Mr. Ze he as a 
respected scientist who had been 
recruited by the East German intel- 
ligence service for an Hi-conceived 
mission. He was apprehended and 
sentenced to eight years in a US. 
prison without having acquired any 
worthwhile secrets, the sources 
said. 

“He seemed more of a prestige 
person than a master spy*" said a 
source. “Maybe they fed a little 
worse For having gotten him into 
trouble than they ao about some of 
fee slobs they use. 


tion says its investigation showed 
he was a professional spy. 

In a exchange Tuesday on a 
bridge linking the two Berlins, fee 
United States traded fee physics 
professor. 46, along wife a Polish 
businessman, a Bulgarian trade of- 
ficial and an elderly East German 
woman for 25 persons from the 
Soviet bloc. AO four had been con- 
victed or indicted for espionage. 

The East Germans said they 
were especially eager to recover 
Mr. Zehe, according to Westerners 
involved in fee exchange. 

The negotiations “blew up" in 
late 1984, according to a govern- 
ment source. At feat time, fee Sovi- 
et bloc’s best offer was 18 of its 
prisoners in trade for the four, he 
said. 

“For some reason,” the source 
said, “fee deal got better for the 
Americans." 

There was speculation that fee 
East Germans had been waiting to 
see if the U.S. legal system would 


, Another source said; “It’s true 

pl«n will benefit some states and he’s the most valuable” of fee spies release Mr. Zehe. 
hurt others. They say that when we exchanged by the United States, “It’s possible that until that final 

“but he’s not a master spy." 

Mr. Zehe’s defense attorney, 

Harvey SQverglate of Boston, por- 
trayed the scientist as an amateur 
who had yielded to coercion to spy 
.to protect his academic standing 
ana to win travel privileges. 

The Federal Bureau of Invest) ga- 


eliminate the deduction for state 
and local taxes, we’ll hurt the peo- 
ple who pay those taxes in fee high- 
tax states. 

“Well, again, it’s simply not 
true,” : 

Governor Cuomo has said that . 
the plan is unfair to New York and 
other stales wife high tax rates. He 
has also traded charges with a se- 
nior Reagan adviser, Patrick J. Bu- 
chanan, after Mr. Buchanan had 
suggested that high-tax states are 
“nco-sodatisT governments trying 
to “redistribute the wealth.” 

Mr. Cuomo termed fee remarks 
by Mr. Buchanan, the White House 
communications director, “stun- 
ningly irresponsible.” 

■ Senator Wains on Changes 

At a Senate Finance Committee 

; Thursday, Bob Packwood, 
of Oregon and the 
committee chairman, told .a group 
of corporate -chief executive offi- 
cer he feared that by the time 
Qn gr«K finish ed chang in g the tax 
reform plan it might be a signifi- 
cant money loser. United Press In- 
ternational reported from Wash- 
ington. 

“We think when we get to the 
end of this bill we may be a couple 
hundred billion dollars short,” Sen- 
ator Packwood said “Then what 
do we do? Where do we get the 
money?” 

■ Executives See Job Loss 

Gay KJort of The New York 

Times reported from Washington: 


piece was there — Zehe sentenced 
— that no kind of skilled negotiat- 
ing could have pulled it off.” said a 
person familiar wife fee negotia- 
tions. 

Those freed by the United 
Stares, besides Mr. Zehe, were: 
Marian Zacharski, a Pole; Penyu 


Kostadincrv, a Bulgarian; and Alice 
Mickelson, an East German. 

They were a small portion of 
what U.S. authorities say is a rising 
tide of agents sent to get secrets on 
technology. 

Three of the four Soviet bloc 
spies had been turned in by Ameri- 
can citizens, who pretended to be 
recruited and instead cooperated 
wife fee U.S. authorities. 

The FBI and fee U.S. Naval In- 
vestigative Service conducted a 
two-year investigation (hat led to 
Mr. Zehc's arrest in November 
1983 at a Boston gathering of the 
American Vacuum Society, a group 
of physical scientists. 

Rgectmp the spying accusations, 
the physicist said after his arrest: 
“A highly trained spy? I am very 
sorry, I am a university professor." 

Mr. Zehe later admitted that, un- 
der the direction of East German 
intelligence, he had met wife a U.S- 
Navy employee seven times in 1982 
and 1983 in Mexico Gty to bin 
secret documents. Affiliated wife 
fee University of Dresden, Mr. 
.Zehe had been an exchange scholar 
at the University of Puebla in Mex- 
ico since 1976. 

He paid the U.S. Navy employee 
$21,800 for documents concerning 
military technology, the FBI said, 
and also gave him a special camera. 



llw AnodoMd f<n> 


Alfred Zehe as he entered the U.S. Court in Boston 


capable of taking up to 2,600 still 
photographs on one film cassette, 
and film specially prepared to pho- 
tograph documents. 

The employee, who worked at 
the Naval Electronics Systems En- 
gineering Center in Charleston, 
South Carolina, was cooperating 
with U-SL authorities from the be- 
ginning. 


Mr. ZachanJd, who got the most 
press publicity of the four spies, 
was sentenced to life in prison feree 
and a half years ago, when he was 
30, for conspiring with a Hughes 
Aircraft Co. radar engineer. Wil- 
liam Holden Bell, to have film of 
documents on key weapons sys- 
tems delivered to Polish agents in 
Europe.- 


U.S. to Issue Carter Aide Says Argentine Leaders Admitted Torture 
Wage Rules 


For States 


By Kenneth B. Noble 

New York Tima Service 

WASHINGTON — Labor Sec- 
retary William E Brock soon will 
issue regulations requiring stale 
and local governments to meet fed- 
eral wage and hour standards, La- 
bor Department mid congressional 
sources say. 

The action, which could mean 
higher earning s for hundr eds of 
thousands of public employees, is 
to be announced in a few days. It 
follow fee Supreme Court's ruling 
in February feat fee Labor Depart- 
ment has an obligation to enforce 
wage and hour stmidards over stale 
and local governments. 

In overturning a 1976 court deci- 
sion giving fee states special pro- 
tections against federal interfer- 
ence, the Supreme Court held that 
the UJL wage and hour standards 
cover employees of publidy owned 
mass transit systems. By extension, 
fee court also affirmed fee Labor 


United Pnn international investigate allegations of abuses of are being tortured right below” 

BUENOS AIRES — Patricia political prisoners. “Then a frightening thing bap- 

Derian, a human rights official in She was fee highest-ranking for- pened,” Ms. Derian said. “Massera 
fee Carter administration, has tes- mer U.S. official to testify to date smiled wife an enormous smile and 
tified in court here that senior Ar- at fee trial, which beganApril 21. made a gesture of washing his 
genhTv* mili tary officials acknowl- “After fee first denial," Ms. Der- 
edged to her that they knew about iau said, “there was an attempt to 

defend the practice, and then we 


fee 


bands and said. ’Remember 
story of Pontius Pilate?* " 

Pilate was fee Roman governor 
of Judea who turned Jesus Christ 
over for crucifixion. 


torture and secret executions of po- 
litical prisoners. 

When Ms. Derian entered the 
courtroom Thursday, lawyers for 
eight of the nine former military 
junta members on trial walked out 
The former leaders are charged in 
the murder and torture of thou- 
sands of people who disappeared 
from 1976 to 1984. 

The lawyer who remained was 
was Carlos Tavares, the court-ap- 
pointed defender of General Jorge 
Videla, a former president. General 
Vidda bad refused to hire his own 
attorney, saying, “History will 
judge me." 

Ms. Derian testified that there 
was a “kind of a pattern" in her 
interviews wife the military rulers. 
She visited Argentina three times in 
1977 in her capacity as assistant 
secretary of stale for human rights 
under President Jimmy Carter lo 


reached a point in our discussions 
of great candor where these prac- 
tices were acknowledged." 

She said that General Videla had 
blamed the excesses on subordi- 
nates who could not be controlled. 

Ms. Derian added that fee for- 
mer navy commander, Emili o Mas- 
sera, denied at first that navy per- 
sonnel were involved in torture. 

“We were talking about torture,” 
she testified, “and ne said that fee 
navy doesn't torture, that it was fee 
army and fee air force." 

•The interview took place in fee 
Navy Mechanics School, a known 
torture site during the years of mfli- 
tary rule. 

She said that she told fee com- 
mander, “1 have seen a rough dia- 
gram of fee floor right below where 
we are now, and it is possible that 
while we are speaking some people 


In xeceqt^ears, Father Eshhrnan 
was said to have suffered from ill 
health and depression. He report- 
edly made a living at his original 
professesvas an artist. Father Ya- 
kunin c n n th m efl as a n activist for 
refimotisireedoms, and in August 
1980-was sentenced to five years in 
labor camps asd five years m inter- 
nialexile.^ 

■. Other deaths : _. 

Oxiiitess Katidfe Karofy, 98, 
widow of fee preadent of Hunga- 
ry’s 'first short-lived republic in 
1918-19,- Count. Mihaly Karoly, 
Thursday in Antibes, France, fee 
Hungarian Embassy in Paris said 
Friday.., 

George aumifler, 87, who played 
Unde Petrie in the “Lassie” televi- 
sion series, and succeeded Ronald 
Reagan as presidau of fee Screen 
Actors Gray, Monday after a brief 
iHness-m Iris Angeles, 

Hna Lugeq^ 74, a Chinese 
raathmwfkMurand. chairman of 
fee China Association for Science 
and Technology,' Wednesday of a 
heart attack in Tokyo. 

FW Crane, 57, a jazz ~pianist 
who was. a regular wife such atusi- 
dans ; as ; A1 ifen, Doc Severmscn 
and Johnnie Mercer^ Monday of a 
heart attackm Dallas. 

Cotooe) Jack Aniistr«ig, 74, a 
retired airforce officer whose name, 
was. made a legend of heroism as 
the “All-Amencan, Boy” on radio 


IT C Cm/7 toe conn also arnrmea me Lanor 

U .u Jultl IV UvulVY Department’s authority to regulate o i _ TB 11 jl* TB«11 

14 , 599 Nudear Senatc^ Pnsscs^ Poliiition Bril 

„ sources said Thursday feat state Los Angeles Tima Service nored administration plans to 

Arms in 28 States " 


Los Angela Tima Service 

WASHINGTON — Two mili- 
tary researchers in a new book have 
asserted that 14,599 nudear war- 
heads are deployed in 28 states in 
the United States and that thou- 
sands of other U.S. warheads are 
stored in eight other nations. 

William M. Arkin and Richard 
W. Fiddhonse said in the book, 
“Nuclear Battlefields," that West 
Germany, Britain, Italy, Turkey, 
Greece, South Korea, the Nether- 
lands and Belgium have stockpiled 
6,100 U.S. nudear warheads. 

According to fee authors, Cali- 
fornia has more military installa- 
tions, assigned nudear-warfare re- 
sponsibilities, 79, than any other 
state. 

A Pentagon spokesman, Michael 
L Burch, said feat he had not seen 
the book. However, he said: “From 
my limited knowledge of deploy- 
ments, I don’t think [their] figures 
are accurate. Yet I'm in fee diffi- 
cult position of not bang able to 
straighten them out ... once we 
never confirm or dory the presence 


dotal 

sources said Thursday that state 
and local governments would be 
required to comply wife the court 
deosion' beginning Oct 15. 

In addition, fee governments 
would behable for any back wages 
owed winkers since April 15, what 
fee Supreme Court made its final 
decision on fee issue. 

Congressional sources who were 
briefed on the new regulations said 
that they included complex formu- 
las to calculate overtime hours 
worked by firefighters and police 
officers. For example, they said, 
firefighters would get overtime 
wages if they worked more than 5? 
hours a week, or 212 hours a 
month. 

State and local officials have 
complained that fee most immedi- 
ate result will be an outlay of many 
millions of dollars in overtime pay 
for those who work split or unusual 
shifts, and feat the paperwork wiQ 
be burdensome. 

All but the smallest jurisdictions 
pay wages drat equal or 
fee U.S. minimum w< 
which is S3J5 an boor, these 
dais say. - 


phase out the program by 1990. 

The measure directed fee agency 
to administer the disposition of 
$300 million in grants to the states 
to check fee flow of pollutants that 
run off parking lots, car washes, 
farm lands and a variety of other 
locations that had not been subject 
to federal controls. 

... It also kept a clause in the 1972 
menal proposal to pas through i* w fe^ ^ priv^ citizens fee 
fee Repubucan-conirolled cham- right to sue to force compliance 
ber m a month. On May 16, the water pollution rules. 

Senate unanimously sent to fee. 


WASHINGTON —The Senate. 

gas administration, has over- 
whelmingly passed legislation feat 
would toughen federal water pollu- 
tion control standards for the first 
tune since they were written 13 
years ago- 

It was the second major environ- 


they retract their leuer!\Wheri the - daring fee,-! 9X)$,'Mon<Jay in Lagu- 
priests refused, he suspended,- them oa Niguel, CaKfonua, 'after a ‘ 
from serving as priosts. - *. ■ illness: . ;i .- r . 


of nudear weapons.’ 

tWribaStoteUS-Vfeh 

organization. Stud fee researchers- The Associated Press 

received their material from gov- PARIS — President Habib 
ernmem documents obtained Bourgniba of Tunisbi left here Fri- 
ferough requests under the Free- day for Washington, where he is to 
dom of lnfonnation Act, congres- consult with President Ronald 
aonal hearings and reports, mOi- Reagan on Tuesday. Ms 10-day 
lary reports and manuals, and data US. visit was preceded by a four- 
given them bygpveranjent.sources.. day stay in France. 


House a bill requiring the Environ- 
mental Protection Agency to set 
standards Hmiiing toxic chemicals 
found In d rinking water. 

On Thursday, in voting 94 to 0 to 
renew and strengthen fee 1972 
Clean Water Act, the primary law 
governing pollution of streams and 
rivers, senators ignored administra- 
tion complaints that the measure 
was too costly and stria. 

Similar legislation is expected to 
reach the floor of the House of the 
Representatives soon. 

Detailing tile adminis tration’s 
position in a letter to the Senate 
majority leader, Robert J. Dole of 
Kansas, the environmental agency 
administrator, Lee M. Thomas, 
said the measure gave his agency 
responsibility to Oversee pollution 
sources that would be better regu- 
lated at the state level 

In addition, he said, the measure 
authorized 518 billion in federal 
sewer construction money for stale 
projects through 1994, and thus ig- 


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Page 4 


INTERNATIONAL HERALD TRIBUNE, SATURPAY-SUNPAY, JUNE 15-16, 1985 


ARTS /LEISURE 


Khmer Sculpture: Bargains for the Careful, Traps for Unwary 


International Herald Tribune 

T ON DON — Khmer sculpture is 
L one of the great arts of the 
Southeast Asian past, which ap- 
pears to have inspired would-be 
artists with an irresistible urge to 
efufauc- 


copy it. Even the most carefi 


SOUREN MELIKIAN 


tion houses have yet to fmd a way 
of avoiding the thousand-and-one 
traps they lay in the collector’s 
path. 

Walking through Sotheby's pre- 
view of Khmer, Thai, Indian and 
Himalayan Works of Art sold on 
Monday and Tuesday, one felt be- 
set by doubts when confronted 
with some pieces. Large groups of 
Khmer sculpture simply do not 
turn up in the trade. To come 
across 46 statues or heads knocked 
off statues, two sitting lions and a 
number of architectural reliefs in a 
single auction has a touch of Alice 
in Wonderland. 

Although the catalog dtle p 


described the sale as “including the 
Ii tan Mu- 


Property of the Metropolitan 
seum of Art, New York, The Late 
Mrs. Y. Syers-Tumer, a Deceased 
English Collector, a German Col- 
lector and Other Owners," it had 
little to say about the man who had 


ANTIQUES 


26th Antiquarian 
Book Fair 


Park Lane Hotel, 
Picadilly, London Wl. 
25, 26, 27 June 1985 
100 dealers from 9 countries. 

11 cum. to 8 p.m. 

Last day 11 a.m. to 6 p.m. 


consigned most of the Khmer 
sculpture, the Bangkok-based 
Frederick Knight, whose Thai wife 
sat in the second row, watching the 
proceedings. 

Bangkok is an obvious place to 
buy Southeast Asian sculpture. De- 
bris from jungle temples and occa- 
sional uncontrolled digs in Cambo- 
dia filter through the border. Pam 
of the northwest of Thailand have 
historically belonged to the Khmer 
world, and there, too, particularly 
in the Lopburi area, countless sites 
have been visited by agents cater- 
ing to dealers. The result is the 
continuing supply of headless tor- 
soes and heads without bodies. 

But the Thais are stalled sculp- 
tors, which has led some to produce 
increasingly sophisticated repro- 
ductions of ancient sculpture. 
Could some have slipped into the 
sale? 

Looking at “A Khmer Gray 
Stone Female Figure, Baphuon 
style; 11th century,” one could not 
hop wondering at the awkward- 
ness of the skirl, with its hesitant 
curves, and the almost realistic 
handling of the face that seemed 
unlike the idealized art of Buddhist 
Cambodia. Two of the most re- 
jected international dealers in the 
field, both masting on anonymity, 
said that the piece could not be 
right. It sold for £15,950 with com- 
mission (about $20,000). 

The following lot, “A Khmer 
Gray Sandstone Head of Avdo- 
kitesvara, Baphuon 1 Ith century,” 
was equally disturbing. The clumsy 
pyramidal headdress and the 
sketchy appearance of a row of 
seated Buddhas perched on the 
hairdo above the forehead make it 
an unlikely candidate to that glori- 
ous style and period of Khmer art 
This went for £3,850. 

Then there was “A Khmer Gray 
Sandstone Harihara Head, Angkor 
Wat style, circa 12th century,” 
which looked like a caricature. The 
tall, exaggerated headdress hesi- 
tates between a truncated cone and 


Head of a 
smiling 
Buddha in 
Bay on style 
fetched 
£1,980 at 
London 
auction. 



best pieces were sot more expen- 
sive than those that so desperately 
strove to copy them. A headless 
standing figure from Banteai Srei 
datable to the 10th century was a 
very fine object- It made £6,600, 
exactly the middle of Sotheby's es- 
timates. 


one could be sure that the entry 
describing them as 13th-century 
Khmer is correct. The trouble is 
that no one knows anything about 
early stirrups in Cambodia. The 
Khmers were not a horse-riding 


race. The stirrups are clearly early, 
ly is diffietdr to telL The 


a sinuous cap form. The face is too 
broad, the small eyes, closely set, 
are topped by rigid, clumsily 
carved eyebrows. The head sold for 
£2,640. 

Four lots later, “A Khmer Gray 
Sandstone Standing Figure of 


Uma, Angkor Wat style, 12th cen- 
tury,” fell in the same league. The 


statue suffers from an obvious lack 
of proportion. The head, stuck on 


rigid horizontal shoulders, is huge 
and the bust too short The knot- 
ting of the belts around the waist 
has been misunderstood. A bit of 
fabric supposed to be the loose end 
of a Told has too much relief to it 
and is in the wrong position. Thai 
remained unsold as the hammer 
went down at £4,000. 

The irony, as in all sales where 
good and bad are mixed, is that the 


Old and New Music in Venice Festival 


The Associated Press 

V ENICE — A re-enactment of 
the 16th-century ceremony 
honoring the visit of Japanese 
princes, as well as 39 world pre- 
mieres, will highlight Venice's In- 
ternational Festival of Contempo- 
rary Music in September. 

The 28-day music festival, ston- 
ing SepL 12, is part of Lhe Venice 
Biennale. It will be divided into two 
sections. “Andrea Gabrieli, 1585- 
1985” and “Europe '50-'80." 


Works by the Venetian composer, 
died 400 hundred years aso. 


who 

will be the centerpiece of the first 
pan. 

On SepL 14. a ceremony in SL 
Mark's Basilica to honor Japanese 
princes in 1585 will be re-enacted, 
the organizers said Thursday. 

The second part of the festival 
win pay homage to the avant-garde 
composers of the 1 950s and present 
new works — 39 of them world 
premieres — by today's composers. 



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One of the masterpieces in the 
auction was an ocher buff sand- 
stone head of the Buddha with 
dosed eyes and the ecstatic smile 
on its lips that is the haBmazk of the 
greatest style at Bayou in the Late 
12th and early I3th c ent uri es. It 
shows some wear but no restora- 
tion , and the nose, that strategic 
pan of the face in any sculpture, 
which nearly always gets damaged, 
was intact. The masterpiece went 
down for a laughable £1,980, at 
half the low estimate of £4.000. 

The greatest piece in the sale, by 
far. was a sandstone torso of a four- 
armed male deity in the Knlen 
. style. It belongs to the 9th cenmry, 
of which specimens seldom mm up 
on the market. One dealer who 
probably sees more Southeast 
Asian sculpture than any of bis 
colleagues said that he had not seen 
a comparable carving in the last 
five years. It was knocked down at 
only £20.900. Sotheby’s estimate of 


but bow earl? 
ornament is inconclusive, the rusty 
condition is no indication of age. 
They are splendid pieces for some- 
one who ltkes art or is interested in 


the history of mfliiaiy equipment, 
cm. Uncer- 


but not a good investment, 
tainty about the nature of an object 
inevitably brings down the number 
of potential buyers to a handful. 

That is actually the plight of 
Khmer art as a whole. Its market is 
narrow, despite its splendor. At the 
top end, there are less than five 
“serious buyers,” to use a favorite 
expression of the trade: After John 
D. Rockefeller 3d died a few years 
ago. leaving his admirable collec- 
tion to the Asia House in New 
York, there was a perceptible hill in 
the market. 

Stricter laws concerning the pro- 
tection of national monuments has 
induced a praiseworthy reluctance 


among top U. S. collectors to get 
involved. The 


change. 


trend is unlikely to 



I 


“Les diables froids* (CoH Devils), c.1860. 


£6,000 to £8,000 simply betraying 
ick of familiarity 


the cataloger’s tack 
with Khmer arL The price is not 
exaggerated on that level of quality. 

It i i typical of this difficult field 
that an undesirable female figure 
dated by Sotheby’s to the 12th cen- 
tury should have been bought a few 
minutes earlier by a Paris gallery 
for £19,800 — only £1,100 less than 
the 9th-centoiy masterpiece. 

Some of the finest acquisitions 
were even within the reach of buy- 
ers with limited resources. The ear- 
liest, and rarest, carving of all was a 
splendid gray stone Buddha head 
of the 6th or 7th century. It belongs 
to a phase of Khmer art that pre- 
cedes the earliest period at Angkor. 
Stylization conventions of Indian 
art in the late Gupta period are still 
to be detected, such as the spiraling 
carls of the hair. The carving has 
lost much of its sharpness with the 
passage of time, but the head re- 
tains much of its former grandeur. 
It was knocked down at £1,210, 
and would be a fine acquisition for 
any university museum wishing to 
illustrate a style of the utmost rar- 
ity. 

Another low price in the sale was 
the £1,500 paia for a pair of iron 
stimips covered with gold foQ, if 


Felicien Hops: A Prurient Moralist 


Colleetor’s Guide 


Authentic Masterpiece OQpmtihig by 

GUSTAVE COURBET 

1853, for sale direefy hum owner. 


Ofiere under cipher Noc 22-1 IS 649 
PubSrilaa. GH-10M lawanne 


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By Michael Gibson 

International Herald Tribune 

F I ARIS — Periods of social col- 
lapse and upheaval breed dis- 
quieting fantasies about women: 
they suddenly appear perverse, 
threatening, an instrument or death 
and the devil In such times both 
Puritanism and sexual license are 
exacerbated and the confrontation 
can become violenL 
Puri tanism during the dnrlmn of 
Rome and the Ind ustrial Revolu- 
tion, fra- example, is usually as- 
cribed — erroneously — to the 
baneful influence of Christian doc- 
trine upon an otherwise healthy 
and “naturaTpagau culture. Yet as 
the classicist E. R Dodds writes of 
of riedmmg Rome, “Pagans and 
Christians vied with each other in 
heaping abuse cm the body.” And 
revolutions in general also have 
their prophets of sexual austerity, 
which Orwell grimly derided in his 
imaginary “Anti-sex League.” 

The Belgian artist Ffeliden Rods 
(1833-1898) was much admired by 
Charles Baudelaire, and his work 
appears today as a perfect expres- 
sion of this sort of mentality in the 
late 1 9th century. Rops was first of 
all a talented illustrator intelligent- 
ly aware of the mood of the age as it 
was expressed, for instance, in tin 
writings of such French novelists 
and pamphleteers as Joris Karl 
Huysmans, Barbey d’Aurevilly and 
the preposterous Josfcphin Pela- 
dan. 

Raps’s subject matter oscillates 
between the poles of puritanism 
and license, and he often succeeds 
in blending them into a single im- 
age of moralizing prurience. Wom- 
an, death and the devil are the 
puppets of an endless orgy cm 
danse macabre, and they recur as 
the protagonists of many of his 
works, as they do in mudi of the 
Symbolist production of the day. 


Rops had too much irony and 
with the 


humor to identify fully wii 
views his works expressed. His own 
relationship to women was unusual 
only to the extent that he lived 
under the same roof with two sis- 
ters to whom be gave an equal mea- 
sure of affection and gratification. 
But he did seem to store the dis- 
tressing puritanical belief of the 
day that sexual pleasure wears out 
and ages the body. 

It is no coincidence that the sec- 
ond half of the 19th century saw 
the efflorescence both of that spec- 
tacular form of hysteria that Jean 
Martin Charcot studied ai the hos- 
pital of La Safpeirferc and of the 
fashionable cult of Salon, which, in 
Huysmans’s novel “Ld-bas" ap- 
pears in its literary varianL 

To Baudelaire, Satan was a rebel 
hero on the Miltonian modd, and 
this, among other things, was (he 
affinity he saw between his views 
and Rops’s. But Satan was also 
identified with sexuality in general: 
“Satanism," wrote Huysmans, “is 
the spiritualism of lechery.” And 
Peladan declared: “Man is pos- 
sessed of woman, and woman is 
possessed of the devil.” 

All this, -and R ops’s illustration 
of this theme appear almost comi- 
cally remote from our own notions 
of art and life. Yet Rops’s brilliant- 
ly executed work provides sharp ~ 
delineation of a puritanical vision 
that is still active in the world to- 
day. 

Why should such puritanism 
flare up in periods of social up- 
heaval? One factor is that collapse 
and revolution (and even swift cul- 
tural change) destroy old rules of 
behavior and representations of. 
values and with them the notions,' 
symbolically expressed in myth 
and the language of everyday man- 
ners, of what makes a man a man 
and a woman a woman. 


As the old order collapses, li- 
cense becomes one way of asserting 
erne's identity. But puritanism may 
also appear os a powerful defense 
against the threat that the opposite 
sex can suddenly represent to a 
person whose sexual identity is no 
longer attested and upheld by rec- 
ognized cultural patterns. Womaru 
in this view, is an instrument of the 
devil because she attracts in an irre- 
sistible way, but she is also death in 
disguise, an abyss into which the 
newly vulnerable man. deprived of 
his culturally determined sexual 
identity, can lose himself. 

Rops was by no means restricted 
to this theme, though it is no doubjg^ 
the most interesting part of his pro- 
duction. He was also a highly gifted 
political cartoooisL as shown by his 


drawings attacking the death pen- 


alty or on the repression 
Polish insurrection of 1863 
("L’ordre rtgne i Vanovie"). He 
also had an inclination for naughty 
or saucy drawings not far from 
what one sees in the milder erotic 
ma gazines today. 

His talent, in short, was many- 
faceted, and not least among those 
talents was Us ability to publicize 
himself. In France, he not only 
achieved notoriety, but became the 
best paid illustrator of his day. 

“ FWtien Reps," Masie da ArM 
Decomrifs, 107 Rue'deRiwIi, Ponk 
/, to July 2h Music da Beaux- Arts 
Jules Chiret, Nice, July 31 - OcL 15. 


Prague Fnnicnlar Reopens 


Ri i«ia Ini 

R" 


.. 


The Associated Press 

PRAGUE — The Petrin funicu- 
lar, a cable railway built in 1891 
that originally was water-driven 
and is now converted to electricity, 
reopens Saturday after being idled 
for 20 years because of a landslide 
in 1965. 


p- _■ ■ 
V.,. . 


AUCTION SALES 



CHRISTIES 

MONACO 


Announcing their 
Inaugural Sales 


of Old Master Paintings, 
European Furniture 
and Decorative Arts 

To be held 7 and 8 December 1985 
at the Hotel Loews, Monte-Carlo 


Clients wishing to include their 
property, please contact your 
nearest Christie’s representative 
before 15 September 

Larent Prevost-Mardlhacy 
Christie’s France SARL 
17, rue de Lille, 75007 Paris 
Tel: (01) 261 12 47 Telex: 213468 

Christine de Massy 
Christie’s Monaco S.A.M. 
Park Palace, 98000 Monaco 
Tel: (93) 25 19 33 Telex: 469870 

Charles Allsopp 

Christie’s, 8 King Street, St. James’s 
London swiy 6Qt 

Tel: (01) 839 9060 Telex: 916429 


THE 

GROSVENOR 

HOUSE 

ANTIQUES 

FAIR 


12-22 JUNE 1985 


GKOS\7'.\ T OR MOUSK, PARK LWl 
LONDON Wl 


Tht‘ I air will \n - open as Allow:;: 

Vi Juno o on p.m. - 7.5 5 p.m. 
Subsequent days I UK) n.rn. ■ 8.10 p.m, 
W'A ; 5 '. 19 arul — June: 1 1.00 a.m. fj.OO pun 
Admission in< lusivu of Handbook ro no 


. Dr^misufi by: Mvan Sloadrnan and Pnrlirn 

Limiiud ! Ki Huh. Hinson Clloso.Safri'oriWvni 

hssox UJJ0 !f I'L.T-Hophonw. 107UU) 2H8Uv 
1 o!n\: 8i(i53. 


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ARTS /LEISURE 


London Pays Honmge to the Huguenots 


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By Max Wy kes-Joy ce 

I ONDON — Theepitomeof Hu-- 
/gueaot success, and; abcep- 
tance in England, where these. 
French Cahimsts had tafcoi refinp 

from religions persecution, is tobe 

seen in a nain&&g madem 1762 6y 
Johann Zoffany, “Mr. and Mrs. 
Garrick in from of the Temple of 
Shakespeare.”. 

Davi d Garrick (1717-1779), toe 
most famous of ac- 

tors aod the grandson of a Huguc-. 
not refugee n*n>wt Gairigne from 
Bordeaux^was by toenactar-man- 
agerof the Theatre Royal in Dnuy 
Lane. ' ■ ; ■'■ 

The painting, shown at “Hie 
Quiet Conquest 5 at tocMnseum of 


London, is part of a 
300 yean of Bt^uenot 'acdvity-in 
Bri tain, organized with the assis- 
tance erf the Hogpeoot Society of • 
London.. ■ 

■ The show » divided into three 
sections, the first illustrative of die 
historical background; the second 
featuring the eartyHugocnot msti- 
tritkms in England, churches, chat 6 
ities, hospuals and schools; ihe 
third, nndt^ir ge^t gfetip Wj- an sms fy. 
as of theHngucnot contribution to 
En glish cnlhro unit - Bfe.- 

One of the most touching images 
in the historical ' section is.au en- 
graving by I- LBeflotti,- “The 
Church of the Desert,” showing a 
gathering of persecuted French 
Protestants meeting in thecounfiy- 
side of the Cfevebnes, perhaps being 
addressed by Claude Bros son 
(1647-1698), a Huguenot minister 
who was arrested while preadtihg 
in B6am broken on the wheel 
at Montpellier in 1698. 

It was such vicious treatment 
that caused 40,000 Huguenots to 
come here, where they were, wel- 
comed and protected by The En- 
glish Irmg and queen, wtQiain ITT 
and Mary. They left France under 
peril of their lives, the men caught 
being either executed or sent to the 
galleys; the women incarcerated in 
nunneries; the children sent to 
strict Papist families where they 
were brought iqj in what Louis XTv 
had been ted to believe was the only 
true and posable faith. 



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Johann Zoffany’s tribute to Garrick and Slrakespeare. 


cook and a patron. In the right are 
a foppish man, woman and child, 
presumably English, but dressed in 
fashionable French clothes; behind 
them are many neatly and soberly 
attired Huguenots, emerging from 
L’EgHse des Gnees, a church origi- 
nally bmh for Greek Orthodox 
worshippers, that by the 1680s had 
been made over to the first Hugue- 
not congregation in London. 

The activities of these first com- 
ers and rhi-rr descendants are su- 
perbly displayed. The section de- 
voted to “Medicine,” shows a 
portrait by Rubens of Sir Theodore 
de Mayerhe (1573-1655) (chief 


a reputation far industry and hon- 
esty, neatly illustrated m 1738 by 
William Hogarth in “Noon,” one 
of a quartet of paintings, “The 
Four Times of Day.” On the left of • 
the print is a steakhouse and an ale 
house on Hog Lane, Soho, with 
ragged children picking scraps 
from the mire, a footman fondling 
a serving wench, and an altercation 
at the upstairs window between the 


had been earlier refugees after the 
IS72 Massacre of St. Bartholomew; 
and the trade card of Paul Savigny, 
surgical instrument maker , 
some of the instruments. 

Another trade card, in the “En- 
gravers and Printseflers" section, is 
of Dorothy Merrier, widow of die 
painter raiip Merrier (1689- 1760), 
a Huguenot bora in Berlin, who 
had a printshop where she sold 
“Flower Pieces in Water Colors, 
Tainted by herself, from the Life” 
to keep herself in her widowhood. 
Her cheerful shop, full of custom- 


ers, is illustrated in an engraved 
cartouche at the top erf the card. 

.The English welcomed the 
French Huguenot landscapists, 
passionate gardeners, among them 
Danjd Marot (1663-17521 a de- 
signer and architect who fled Paris 
in 1685 and entered the service of 
William III before the Dutch 
prince had left Holland to ascend 
the English throne. Marot rede- 
signed the parterre for the formal 
garden, at Hampton Court Palace 
in a style which, since he was a 
pupil of Andit Le N6tre, was 
bound to show French influence; 
purist English gardeners con- 
demned it as “a Dutch version erf 
the French." 

Another design of Marat’*, in the 
show in its finished form, is the 
State Coach, designed for toe king 
in 1698, and still in use on state 
occasions as coach for the Speaker 
of the House of Commons. This 
has been restored to its original 
colors, wbich are astonishingly 
modem, the great wheels with 
roundels of Made and spokes of 
rassel-orange contrasting with the 
gflded woodwork and silver han- 
dles. 

Other sections are devoted to 
painting and sculpture, g nnmak - 


ing, gold working, watchmaking, 
jewelry, glass, ceramics and furni- 
ture. One other remains especially 
to be noticed — the silk industry. 
The Huguenots virtually took over 
toe industry in England; and by 
1740 almost all toe French master 
weavers had been elected to and 
accepted by the Weavers' Compa- 
ny in the uty. Many had settled in 
elegant houses In Spil&lfields, 
which stm provide homes for writ- 
ers and artists. 

The oik section includes designs 
by such as James Leman. Assistant 
of toe Weavers' Company; a fire- 
screen of brocaded sffi: by John 
Vansomner (1706-1774); and 
clothes of toe period. 

Moving to modem times there is 
a bronze bust of Samuel Counnukl 
(1876-1947), an Englishman of Hu- 
gpenot descent, who formed toe 
Courtaold art collection and 
founded toe Courtauld Institute of 
Ait. 

“The Quiet Conquest: The Hu- 
guenots 1 685- J 985,” Museum of 
London, London Wall, EC2 to OcL 
31. 


Max Wykes -Joyce writes regular- 
ly in the IHT about an in Lon- 
don. 


hwiflllsrto 


VtmHJL* 


the 

OSVENOR 

HOUSE 

nQUES 

FAIR 


By Editb Schloss 

. -pOME — Some of the canvases in “C&anne 
JtV to Picasso," on exhibition in the Ca pit o l i ne 
Museums, have been on view in Paris and Luga- 
no, and last month in Venice, but quite a few 
have never left tire Soviet Union before. The 
paintings come from the Hermitage in Lenin- 
. grad and toe Pushkin Museum in Moscow, and 
were originally acquired in Paris before toe 
Russian Revolution by L A. Morazow and S. L 
Shukm, two far-s ig h ted mer c ha nts who believed 
that the new fiberty illustrated in these works 
would further progress and break the strangle- 
hold of Czarisi conservatism, ' 

’ The first impresson of toe installation, not 
well lighted, is somewhat jarring, because toe 
panels on whuto toe modem masters are hung 
’ are in confusing proximity to tire old masters 
bung permanently behind them. A busty actress 
I by Renoir, for instance, happens tobe dedaim- 
ing next to the dying St Petroniflaby Guerono. 
A Picasso is dose to a Domcnlchmo, and a 
> Matisse nude hangs opposite a Saint Sebastian. 
^ by Guido Reri Maybe these odd juttapaatkms 
may lead to fruitful comparisons. 


Be that, as it may, the most interesting thing 
about toe exhibition is that it represents differ- 
ent stages of each artist’s development. It begins 
with an early Cfammc of crinohned ladies done 
in a thick pattern erf strokes, follows him 


landscapes: and still lifes, to portraits, bathos, 
and the open and breathing late Mont-Saint- 
Victoire. 

‘ The Renoirs are in pleasant progreaon, but 
there is hardly a Renoir at his most glowing 
height Gangmn is seen in all his pat contrasts irf 
color and appreciation of toe fife of blithe, 
bovme Oceanians, mysteriously happy with 
their lot There are two pungent Van Goghs. 

: None of toe diverse Monets show him at his 
most atmospheric and iridescent splendor, but 
“Woman in the Garden” and “Field of Pop- 
pies,” both rather tightly brushed, make the 
experience of a sultry summer afternoon in the 
sooth of France marvelously tangible. 

- The Picassos areaD Cubist, good examples <rf 
. fits hntiny playing around with form and space, 
. but an «riy 1900 seme of poor lowers, plain and 
nrnnfdfecmal, is touching. 

. But it is obvious which punter Sudan, the 


spice merchant was really in love with — toe 
master of our century long before he was recog- 
nized as snch — with Matisse, of course! 

From the “Red Room” of 1908, with its 
tablecloth ornament spreading into the wallpa- 
per and taking up all the space except the spring 
view out of toe window, to a Seville still fife even 1 
richer in ornament wbich is turned into pictori- 
al invention; to toe Spanish dancer; toe “Gold- 
fish Bowl”; the blunt hist of toe sexy nymph 
chased by a faim over a salad-green meadow; we 
come to a painting winch is still new not only in 
looks but in content. 

“Nasturtiums” was painted in 1911 It shows 
how Matisse chose the human figure as supreme 
ornament it reflects to the fullest his felicity of 
color. 

Everything in this painting, though bom of 
long thought and struggle, flows freshly and 
with elegant immediacy. It is one of the pro- 
formdest icons of our time. 

“From Cizanne to Picasso " Palazzo dei Con- 
servator i, CapitoSne Museums, until June 30. 

E&tkSckloss, a painter, writes nptlarfy for the 
IHT on an showings In Rome. 


The Inter nofiono! Hsrcici T:-.ci.-rc*’» daily oo'd circulation continues to brock r&corcs, up 5'/o in ihe 
pest y«or end 24°'.-. in tre post four years. More than c third of a million people in 1 64 countries 
around the world no* see each issue. And latest figures indicate hxrr this rapid growth continues. 


**Sk 


(r.rvrro-cc::: K-:cld T-'bur.e circulator, 
gure p-.ncreu fo- OJO audit for period 
rem ^cr.,,-crv 1 . *o December 31, 1934. 


1984 


INTERNATIONAL ART EXHIBITIONS 


m 




rj.M.’.'j'ui " 




Portraits by Alejo VEDALQUABBAS 

FRENCH IMPRESSIONISTS 

POST-IMPRESSIONISTS AND MODERN MASTERS 
Mon.-FrL, 10 ajn.-l pjn. - 2:30 pjn.-7 pm. 

New York Pori* Chfcogo PobnBeadi BeveriyHffl 


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9, avenue Matignon - Paris 8' 
tel. : 256^5.19 




jime 12 - july 12 


GALER1E DINA VIBWIY - 

36, roe Jacob 75006 PAJ3S- 26023.18 

KABAKOV 


indades designs I i »^i July 13,1985 — 

xman. Assistant — — — — . ■ ■ ■ - - - — 

GALERIH SCHMIT 

^1774), and 396, roe Saiat-Honorf, 75001 PARIS 26036.36 

mi times there is 
imud Courtauld 

OsSi DE COROT A PICASSO 


exposition : jusqu’au 20 jutflet 


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a la rane margot 

7 Qoai de Conn, 75006 Paris TeL: (1) 326 62 50 

THE MAGIC OF ANCIENT GLASS 

June -July 1985 


— GALERIE CAILLEUX — 

136 Faubourg Sainr-Honorc - 75008 Paris 

CEUVRES DE JEUNESSE 
de WATTEAU k INGRES 

from June 3 to July 12 


GALERIE MERMOZ 

| PRE-COLUMBIAN ART 

6, Rue Jeon-Mermoz, 75008 PARIS. Tel.: 359.82^4 


——GALERIE TRIFF 

Mi OLD KILIMS 


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PARIS 

= GALERIE HOPKINS-THOMAS — 

4, Rue de Miromesnit, 75008 Paris - Tel.: 265.51.05 

RENOIR 

Drawings and watercolors 

Until June 29, 1985. 



reasons 
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THRU SUNDAY 

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hand-woven TAPESTRIES 
Onginal prestigious hmd-knotted 

SAVONNER1E CARPETS 

28 Rue Bonaparte, Paris 6th 
Tel.: 329 30 60 



THE CANADIAN 
CULTURAL CENTER 

invites you to 

THE VILLAGE VOICE 

Thursday June 20, at 7p.m. 

MARIAN ENGEL: 
A TRIBUTE 

6 rue Princesse, Paris 6th. 


GALERIE LOUISE LEIRIS 

47, rue de Monceau. 75008. 
Tel.: 563 28 85 '37 14 


ITTOTTri 


60 works — 1915-1 954 
June 12 - July 20 

Daily exempt Sunday and Monday 


MONTAND 

Galerie La Hune 

14, ni« do 1‘ Abboye, 
Parit-6* - Tel., 325 54 06. 
Place Saint'Oennaift'des-Pres. 


ESKENAZI 

Oriental Art 25th Anniversary Exhibition 
12 June-12 July 1985 
Ancient Chinese Bronzes 
Gilt Bronzes 
Inlaid Bronzes 
Silver 
Jades 

Ceramics FuHy iHus-^ed catalogue available 

Foxglove House 166 Piccadilly London W1V9DE 

‘.opposite Old Bond Street! Te'.ephcr.e: 0 ■ -493 5464 


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July 31, 1985 

Man.-fri 10-5>3Q. Sob. 10-12:30. 
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Page 6 


SATURDAY-SUNDAY, JUNE 15-16, 1985 



Heralb 


INTERNATIONAL 



Sribune. 


iUrfnlan) 'A'Ufa Hie New York Timex and Tbr Vai'bnf'lon PM 


Who’s Tired of Floating? 


For a dozen years the world has been living, 
not very comfortably, with currency exchange 
rales that float- it has been a dozen years full 
of surprises in the currency market, most of 
them disruptive and some very expensive. The 
float is the kind of arrangement that persists 
because nobody can quite think of an alterna- 
tive that is likely to work. But perhaps that will 
now change, in a modest bui useful way. 

Boating means leaving a currency’s ex- 
change rate to the daily flow of buying and 
Se flin g- Sometimes, as happened to the U.S. 
dollar in 1979-80, a currency’s price in other 
countries' money falls well below its real value 
in terms of the things that it can actually buy at 
home. Sometimes. like the dollar today, it rises 
well above that value. That would never hap- 
pen if foreign exchange only financed trade. 
Bin there are other forces in the currency 
market, great flows of investment and specula- 
tion, that constantly swing the rates, distorting 
trade and causing unemployment. 

Until the early 1970s, governments could 
usually stabilize exchange rates by buying and 
selling on their own account. It was the enor- 
mous expansion of foreign currency trading 
that destroyed the fixed-rate system. On a 
typical business day the buying and selling of 
U.S. dollars now readies about 5200 billioiL. 


That is roughly 20 times U.S. GNP per day. 

But if governments can no longer fix ex- 
change rates, they can still do a lot to damp 
down the swings and mitigate damag e to their 
domestic economies. They can stffl intervene 
by buying and selling. It can be very helpful in 
the short run to break speculative surges. 

For Lhe longer run, there is only ope thing 
that works — coordination of economic policy 
among the trading countries' governments. 
Most governments don’t much care for the 
idea, because it limits freedom of action. The 
Reagan a dminis tration has until this spring 
resisted the idea vigorously, because it would- 
Fnaflfi international pressure on the United 
States lo bring down its budget deficits. 

But financial specialists representing most 
of the rich countries have been working on a 
set of proposals that constitute a nudge toward 
economic coordination. The process, working 
through the Internationa] Monetary Fund, is 
likely to move slowly toward adoption in the 
months ahead. Supporting it is very much in 
the interest of America in particular. The su- 
per-high dollar is not stable. If and when it 
begins to fall America is going to need more 
help from governments abroad than it can 
expect under lhe present rules of the game. 

— THE WASHINGTON POST. 


A Convenient Civil War 


Some face has been saved and backsides 
have been protected, but those are not good 
enough reasons for the House's change of 
heart about supporting the undeclared war 
a gains t Nicaragua. After narrowly opposing 
all forms of aid to the “conira” rebels in April 
the House now favors S27 million in “nomiiili- 
tary" help over the next nine months. Since the 
Senate has voted S38 million for a longer 
period. President Reagan has won a major 
political battle. The likely result is that the 
military battle will drag on, inconclusively. 

* Tf they mean what they say, that may be 
what Mr. Reagan and his newfound Demo- 
cratic allies really want. Keeping up the ‘‘con- 
tra’ 1 attacks means that the president can dam- 
age and contain the Marxist regim e without 
dignifying it in negotiation. And no Demo- 
crats get blamed for “losing” Nicaragua, 
whose leader had the effrontery to celebrate 
jhe April vote with a quick trip to Moscow. 

- Mr. Reagan secured the switch of enough 
Democratic votes by denying that he seeks the 
military overthrow of the Sandinists. In per- 
haps his clearest statement of the war's objec- 
tive. he said it would endanger UJ5. interests in 
Central America “if we tolerate the consolida- 
tion of a surrogate state ... responsive to 
Cuba and the Soviet Union." That points to 
protracted harassment by the “contras.*’ who 
obviously lack a knockout punch. Their jab- 
bing is meant to keep the Sandinists off bal- 


ance and preoccupied at home with a deterio- 
rating economy and souring morale. 

So what's wrong with that? The first objec- 
tion ought to be h uman and moral: It is a 
policy bought with other people’s blood. That 
“humanitarian’' aid feeds a civil war in which 
the honor of the United States lies in the 
knapsack of hit-and-run terrorists. 

A second objection is practical: As casual- 
ties rise, so do the risks that this war may 
develop its own momentum. The most likely 
“accident" — perhaps even favored by some of 
the sponsors of insurgency — would be cross- 
border raids by Nicaragua against “contra" 
sanctuaries in Honduras and Costa Rica. The 
Reagan administration contends that the 
“contra" war is insurance against direct U.S. 
intervention, but it could well have the oppo- 
site effect, provoking events that eventually 
impel the use of U.S. forces. 

An undeclared, low-level war for nebulous 
aims may be politically convenient to the pres- 
ident and Congress, but it baffles public opin- 
ion and alarms major allies in Latin America, 
not one of which supports the war. Bleeding 
Nicaragua is unlikely to produce plausible 
terms for a political settlement. It promises 
mainly misery for Lhe combatants, discord at 
borne and anti-Americanism abroad. The 
House's turnabout leaves the argument over 
Nicaragua stuck where it was, in a spongy bog. 

— THE NEW YORK TIMES. 


No longer are Congress and President Rea- 
gan at odds on Nicaragua. The political system 
has worked over the issue and finally fetched 
tip at an agreed policy. In its central feature, 
the policy permits, after a year's lapse, the 
resumption of direct aid to the Nicaraguan 
“contras." Seventy-three Democrats voted for 
it, reversing their party’s previous veto. 

. There is always potential value in establish- 
ing a bipartisan approach to contentious for- 
eign policy questions. The very process of 
establishing bipartisanship can be, if bloody, a 
positive influence on policy. Certainly it was 
that way as Congress and the president gradu- 
ally came together on Q Salvador in 1983-84. 
Congress added its emphasis on human rights, 
democratization, reform and political dialogue 
to Mr. Reagan’s stress on the military struggle. 
The outcome was a balanced policy that has a 
reasonable chance of working over time, 
^h'has yet to be shown that the same process 
of establishing bipartisanship can have a posi- 
tive outcome in Nicaragua. There the two 
sides’ contributions, rather than reinforcing 
each other, may tend to cancel each other out 
From the House Mr. Reagan won a resump- 
tion of aid to the “contras," but under condi- 


tions (logistical aid only, outside CIA and 
Pentagon channels) that make supporters un- 
certain whether the aid will produce the mil? , 
tary pressures essential to success. 

The conditions also include a statement 
from Mr. Reagan that he seeks not to over- 
throw the Sandinists but to coax them into 
negotiations and new elections. Whether this 
latest avowal of administration purpose de- 
scribes its actual intent or represents any real 


change is very much up in the air. So is the 
this new assertion will 


question of whether — „u, 

limber up the Sandinists and make them readi- 
er for compromise. They can hear elated insur- 
gents saying that the aid vote has restored a 
U.S. seal of unequivocal approval and given 
them the boost they need to press on. 

The United States may end up with some- 
thing of the worst of both worlds: certainly not 
enough condlialion and possibly not enough 
pressure to make the Sandinists alter course. 
The war could grind on, costing casualties, 
sidetracking diplomacy and increasing the 
chance of UJS. involvement as frustration 
mounts. But for now the debate is over. The 
question is whether the compromise can work. 
— the Washington post. 


Other Opinion 


Spain and Portugal Plunge In 


The Community is a hodgepodge of nation- 
al egotism, regional prejudice and corporat- 
ism. After 30 years it is still unable to “dena- 
tionalize." Yet it has given Spain and Portugal 
the chance to emerge from isolation — and not 
just the recent isolation due to totalitarian 
regimes. Madrid and Lisbon have decided to 
join forces with those who believe in the possi- 


bility of a European federation. So there is 
cause for hope as well as for concern. 

— Coniere della Sera (Milan). 


Will we say one day about the membership 
of Spain and Portugal what we said after the 
admission of Britain — that it was a muted 
blessing? We risk turbulent times that threaten 
our independence as free nations. 

— La Demiere Heure (Brussels). 


FROM OUR JUNE 15 PAGES, 75 AND 50 YEARS AGO 


1910: TTie Man to Save lhe Buffalo 


PARIS — The British Government has just 
issued a statement that there is a plague of wild 
elephants in Uganda. They are roaming the 
country in devastating herds, eating up the 
settlers’ gardens and even tearing Lhe roofs off 
storehouses to devour the grain. Such a thing 
was never known there before. Neither did 
Theodore Roosevelt ever go shooting there 
before, and if this plague of elephants is the 
result of his trip il opens up a fine line of 
speculation. Elephants in Uganda are of little 
use to America, but why not apply the same 
cause for a much lo be desired result in the 
United States? The buffalo is practically ex- 
tinct. Let Mr. Roosevelt go shooting those that 
are preserved in Yellowstone Park and per- 
haps in time there will be herds of them again 
roaming the Western plains. Likewise lobsters. 


1935: A Financial Panic in Danzig 
WARSAW — Despite, or perhaps because of, 
devaluation of the gulden by 42 percent some 
months ago. a financial panic has developed in 
the Free City of Danzig which may have wide- 
spread repercussions. Efforts of the Danzig 
Senate to calm the public have proved unavail- 
ing and the situation has become so critical 
that, following the visits of Colonel Joseph 
Beck, Polish Foreign Minister, Dr. Hjalmar 
SchachL German Minister of Economics, flew 
there [on June 13]. Poland blames the freezing 
of Danzig credits in Germany for the situation 
and threatens in turn, if Polish credits are 
frozen by restrictions, to transfer its foreign 
commerce, on which Danzig depends, to its 
own port of Gdynia. The situation has been 
complicated by the Nazi activities in the Free 
State before and after the recent elections. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY, Chairman 1958-1982 


KATHARINE GRAHAM. WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chairmen 


LEE W. HUEBNER, Publisher 

Executive Editor RENt BONDY Depun Publisher 

Editor ALAIN LECOUR Associate Publisher 

Depun- Editor RIC HARD H. MORGAN Axudate Publisher 

Dtjmi > Editor STEPHAN W. CONAWAY Director of Operations ■ 

Associate Editor FRANCOIS DES MAI SONS Director of Ctradadon 

ROLF D. KRANEPUHL Director of Advertising Sides 
International Herald Tribune, 181 Avenue Charfes-de-GauIk. 92200 Neuilly-sur-Seine, 

France. TeL; (1)747-1265. Telex; 612718 (Herald). Cables Herald Paris. ISSN: 0294-8051 
Direeteur de ht publication; Walter N. Thayer. 


PHILIP M. FOISIE 
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ROBERT K. McCABE 

carl gewirtz 



S..4. au capital de 1 . 200.000 F. RCS Namerre B 732021126. 'Commission Paritaire No. 61337. 
U.S. subscription: S322 yearly. Second-class postage paid at Long Island City, N. Y. HIOI. 
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r 


Do the Giants Know What They’re Doing? 


i ARIS — T his is a period of uncertainty and 


x groping in superpower relations, a cross- 
roads at which 


By Flora lewis 


rich small steps can be decisive for 
future directions. There are some discomfiting 
parallels in Washington and Moscow. Neither 
capital seems to have faced up to the tough 


seriously in the negotiations they have launci 
In Washingtc 5 


jon the battle continues over bow 
to deal with the Russians. President Reagan 
wisely overrode administration hard-liners and 
ordered continued U.S. compliance with the 
SALT-2 treaty, although only for the time being. 

Moscow’s initial reaction was another propa- 


to modernize the Soviet econcim without any 
important reforms in the system. His economic 
and military problems are necessarily linked. 

To a surprising extent be has echoed the thesis 
that brought a degree of disgrace for the former 
chief of staff. Marshal Nikolai Ogarfcov. It is that 
the technologica] muscle and productive capaci- 


ty or the Soviet civilian economy must be sharply 

rds but 


ganda burp, accusing the United States of plot- 
vhole i * 


ig military 
last year. 


ting to destroy the whole idea of arms control 
So far the Soviets 


have responded almost hys- 
terically to Mr. Reagan’s Strategic Defense mi- 


upgraded. not only to raise living standards 
also as the essential base for maintaining 
strength. The marshal was dismissed 
There are hints that he is being rehabilitated. 

He was one of the main Soviet spokesmen in 
the campaign opposing introduction of UJS. mis- 
siles in Europe. For nearh five vears, that cam- 


: prune international politi- 
cal issue before anybody even knows if it is 
feasible. In both American and European opin- 
ion, the Kremlin has perversely recruited support 
for the notion of “star wars" feasibility by per- 
suading people that there must be something in it 
if the Russians take it so seriously. 

The Soviet leader, Mikhail Gorbachev, has 
made his own priority clear. It is a massive effort 


paign was the central theme of Soviet diplomacy 


mg failure, trie Russians 
finally returned to the Geneva negotiating table 
anyway. They scarcely mention the missiles any 
more. Now their prime target is the SDL 

Rnr thm* niw cli/vAnno o i ‘“erflr ofAre** 


with 


But they are shooting at “star wars" 
the same diplomatic-propaganda approach they 
used so unsuccessfully against the Euru missiles, 
warning that all talks will break down unless 


the United States swears off- This is peculiar. 

The Russians know very well that there jono 
wav to impose a verifiable ban on research. Tne\ 
admit that they are doing research that couw 
have similar applications. Still they rerun the 
quit-or-we-won't-talk script, which served them 
so badly against the Euromissfles. 

If thev continue this line they risk recreating 
the kind of political box in which Washington 
feds obliged to plunge ahead whether the hDI 
looks sound or not. so as to deny a .Soviet nght or 
veto on U.S. arms decisions: and in which Mos- 
cow cannot back away from intransigence wth- 
out appearing to have weakened. This kind of 
confrontational approach will Mode anv chance 
erf compromise. It threatens to collapse the whole 
effort to control the arms race by agreement. 

That cannot be in the Soviet interesL any more 
than it is in the interest of the United States or 
the rest of the world. Very little is known about 
politics inside the Kremlin. Andrei Gromyko, 
who led Soviet diplomacy in its missile fiasco, 
remains foreign minister. It is not clear whether 
he is responsible for repeating the style of that 
campaign now. or whether the advice comes 
primarily from Soviet military men. 

There’ are visible ways to escape the current 
impasse, which would be to direct talks toward 


The Pacific; ; 
An Ocean, 


Not a 


Bv Robert W. Gibson 



in the’ ABM maty. John. B. Rhinelander. who 
was legal adviser to the U.S. SALT-1 ddegation. 
. w Congress on dear and 


'He’s playing it AGAIN, Sam . 9 


has given testimony to Congress o 
specific points worth taking up. 

They are technical, but of nucial importance if 
the ABM treaty and probably arms control in 
general are lo be saved. The critical period, under 
U.S. “star wars" planning, wiD come between 
1988 and 1993. that is, during the term of Mr. 
Reagan's successor. But by then, Mr. Rhindand- 
er notes, the ABM treaty ^probably could not be 
put back together again even if a later decision 
were made not to deploy SDL” 

The Russians are under an illusion if they 
think America’s European allies can be mobi- 
lized to prevent American research. The Europe- 
ans’ dilemma is whether to participate, but that 
in itself might breach the ABM treaty, which 
forbids technology transfers. 

Indecision in East and West is eroding the 
hope for arms controL Weapons builders op both 
sides are reinforcing wrh other. Moscow's cur- 
rent stance can propel it further into the contest 
that iu leaders say they want to avoid. 

The New York Times. 


L ONG BEACH. California 
, people came to Long Beach last 
month for the first Pacific Rim Expo, 
which mav also have been (he tasL .; 
"It’s dead." said a representative 
from a participating company on the 
fourth and final day of the event-. . 

It is chic to be a Pacific Rimmer. 
If vou are a Californian, espedsfly 
in business consulting where client, 
building is important it is fasten* 
able to talk up the rim. When Ronald 
Reagan reached the White Househe . 
even named a Pacific Basin tuttbftsst- 7 
dor. the flrsi. Ii was not whimsy. - _ 
About half of the world’s goods 
and services come from nations rim- 
ming the Pacific Oxan. The Uaiwl, 
States and Japan have the workfi 
two largest economies. Since 1977, 
more U5. trade flows across the Pa- 
cific than the Atlantic. -- 

So it makes sense to have some- 
body looking after the Pacific Basic, 
and Ambassador Richard Fairbanks 
does an important job traveling the 


In fad, more dirides the 
nations of the Pacific 
Basin than unites them* 


A Second Chance for Papandreou and Some Allies 


^^THENS — Politicians do not al- 


ways get a second chance, but 
Andreas Papandreou has sailed 
through the elections of June 2 to a 
second term as prime minister with a 
clear lead of 5 percentage points over 
the conservative opposition. 

As in 1981. when his Panhellcnic 
Socialist Movement put an end to 
almost half a century of right-wing 
role in Greece. Mr. Papandreou faces 
four years in government armed with 
a strong mandate with which to try to 
set right the country's wrongs. 

The governments of some partner 
countries in the European Communi- 


By Andriana Ierodiaconou 


Athens's allies a second chance to 
understand and come to terms with 
Andreas Papandreou's Greece. 

This applies lo the United States 
— which, as it happens, sent what 
Mr. Papandreou called a “warm" 
message of congratulations. Starting 
before the elections, he has been 
sending signals to Washington, using 
the press as one channel of communi- 
cation, to indicate that be wants to 
improve Greek- U.S. relations. 


At a press conference three days 
after his victory he aired a two-part 
ty and NATO — West Germany and proposition, suggesting it as a basis 
Britain, in particular — reacted less for improvement America, he said. 


than graciously to Mr. Papandreou's 
victory. Yet the Socialists 45.8 per- 
cent mandate is presumably a prod- 
uct of the democratic freedoms that 
the West was pleased lo see Greece 
recapture after the painful experience 
of the colonels’ dictatorship. 

So perhaps another way to look 
at the election result is that it gives 


must recognize dearly the problems 


Greece faces today," and Greece 


must see to it that “pains are taken to 
explain that whatever positions we 
take have to do with this country and 
are in no sense intended to be offen- 
sive or inimical to the U-S." 

When Mr. Papandreou talks about 
“national problems," he means Tur- 


key. Many of Greece's albes in 
NATO or the EC switch off when the 
Greeks start talking about Turkey. In 
his first term Mr. Papandreou ren- 
dered a disservice to nis own cause 
when he alienated the very Western 
goodwill he was trying to cultivate by 
adopting the role of the abrasive dis- 
sident on international issues of par- 
ticular sensitivity — (he South Kore- 
an airliner and Poland, for instance. 

Yet it is a fact of Greek political 
life that the country faces problems 
in connection with Turkey. It is not 
only Mr. Papandreou's view. It is the 
national view, held across the board 
from the far left to the far rigbL 

The crux of these problems is Cy- 
prus. Turkey invaded the strategic 
island — whose population is 18 per- 
cent Turkish Cypnot and 80 percent 
Greek Cypriot — in 1974 after the 
Greek junta staged a coup against the 
government of Archbishop Makar- 
ius. Eleven years later Turkish troops 


still occupy more than a third of 
Cyprus, holding Greek Cypriot prop- 
erties. That is problem number one. 


territory, giving speeches and keep-- 
ing an ear open. But tie may oat be > 
true Pacific Riramcr. since he is skep- 
tical of boosters who talk of a Pacific 
common market or any other kind of 
association with political undertones; 

A typical Pacific Rimmer takes the 
economic megafacts about America, 
Japan, China, South Korea. Taiwan 
and the others, stuffs them into a pipe 
bowl and blows a colossal bubble 
encasing them all. The shimmering 
result is labeled Pacific Rim (or Pa- 
cific Basin, among other names) and 
presented as the world's most lucra- 
tive. promising morkcL 

It is illusion, of course. More di- 
vides the nations of the Pacific Basin 
than unites them. But for many West 
Europeans the illusion creates anxi- i 
ety. The French in particular seem to 
fear being shut out. And the Rus- 
sians, who are suspicious of any 


To protest against what it viewed grouping thev cannot dominate, de- 
NATO inaction in the face of the nounce the Pacific 


as 

invasion of Cyprus by a member 
state. Greece withdrew from the mili- 
tary wing of the alliance for almost 
six years. Its return in 1980 was car- 
ried out under the shadow erf a Turk- 
ish bid for a larger slice of the opera- 
tional control pie in the Aegean, 
which would change the pre-1974 ar- 
rangements at the expense of Greece. 
The issue is still unresolved. That 
is problem number two. 

Disputes on continental shelf 
rights, territorial waters, airspace and 
Greece's right to, militarize 
such 


Basin as a Wash- 
ington -T okyo-Can bora conspiracy. 


In fact it is a vague concept except 
wr. It 


to an oceanographer, 
stretches from the Arctic to the Ant- 
arctic. It will not in our time be a 
common market a free trade associa- 
tion or even a GATT grouping. 

What it turns out to be is a matrix 
for massive trade flows — about S 140 
billion last year — and growing capi- 
tal movemenL These phenomena nat- 
urally follow industrial and techno- 


logical development in the United ^ 


0 Vw/B; 4*/*l**W MNPt JE.. 

4k wwfrv flsr 



Democrats March to Reagan’s Beat 


ASHINGTON — Right after 


the House voted down the 
Boland amendment on Wednesday, 
Speaker Tip CTNeiU was in his pri- 
vate office doing what be often does 
— a favor for a friend. Still smart- 
ing from the dubbing he took on a 
move Lhat would have ended CIA 
involvement with the “contras," he 
was making a tape for a fund-raiser 
for Mo Udall of Arizona. 

Mr. O'Neill did not want to talk 
about what had just happened. He 
read from a statement hastily pre- 
pared by his staff, which pointed 
out that President Reagan had won 
only by repudiating rarnury aid for 
the rebels, criticizing their conduct, 
agreeing to negotiate with the Sau- 
di oists and disavowing any inten- 
tion of overthrowing them. 

The speaker's heart was not in it 
“I just can't explain it," he said. 

It was a galling personal loss. He 
had thrown all otitis weight into the 
fight, casting aside his usual diffi- 
dence on foreign policy questions. 
On Nicaragua, he thought he knew, 
firsthand, more than the State De- 
it or the White House. A 
friend had gone to Nica- 
ragua as a marine and been stabbed 
“for United Fruit," An aunt, a 
MaryknoU missionary, had assured 
him that the Sandinists, whatever 
their philosophy, were making a 
better life for the common people. 

But the House, which seven 
weeks before bad unexpectedly de- 
fied the president on any aid for the 
“contras," was nervous. Speaker 
0*NeUl knew it and tried to make 
his colleagues nervous on a larger 


By Mary McGrory 


scale. Against talk of appeasement, 
compromise and Marxism-Lenin- 
ism on the doorstep, he had re- 
sponded hardily that intervention 
would lead to war. He ihoughl this 
warning was a powerful counter- 
weight againsL Nicaraguan Presi- 
dent Daniel Ortega’s trip to Mos- 
cow, and against Democratic fears 
of looking “soft on communism." 

At his news conference before 
the session began. Mr. O'Neill elab- 
orated on President Reagan’s mar- 
tial fantasies, which he thinks are 
the roots of the policy. 

“He is not going " lo be happy 
until he has our marines and our 
rangers down there," Mr. O'Neill 
said. “He can see himself leading a 
contingent down Broadway with 
paper flying ou t the windows, with 
a big smile on his face like a kind of 
grade B motion picture actor com- 
ing home the conquering hero." 

He recalled Mr. Reagan telling 
him about the glorious day he pic- 
tured in Beirut, “with people wav- 
ing handkerchiefs for the marines 
who had unified their country." 

“It's unbelievable," Mr. O'Neill 
mused, “but that’s the way he talks, 
and that's the way he thinks." 

But Mr. Reagan carried the day, 
232-196. Fifty-eight Democrats de- 
serted Mr. O’Noll and his pal, Ed- 
ward P. Boland, the Massachusetts 
Democrat who chairs tire House's 
Select Committee on Intelligence. 

The most painful moment of a 
black day may have been the defec- 


tion of John P. Murtha. Speaker 
O’Neill had befriended the Penn- 
sylvania Democrat, a huge, blunt, 
assertive Vietnam veteran. But Mr. 
Murtha made one of the show 
speeches, an emotional tirade about 
the wimps in Congress who had lost 
Vie tnam by sending mi«ed si gnals 
Mr. O'Neill stood alone in the 
back of the chamber, bis bulk 
draped over the brass ratting, not 
wanting war and looking the pic- 


ture of woe as Mr. Murtha spoke of 
i the mad. 


people who had “fought in l 
who bad water up to the waist" 
The Republicans were in rapture. 

licnel of 


Their leader, Robert H. Mic 
Illinois, principal architect of the 
“humanitarian aid bill, took a 
from-row seal for the affair. When 
Mr. Murtha slopped shouting, be 
rushed forward to shake his hand. 

Mr. O'Neill was scalded by the 


betrayaL “He is one of my dearest 
ids in the House," be said of 


frient 

Mr. Murtha. “1 am upset I am very, 
very upset with him. 

Dolefully he said that the mem- 
bers voted against their constitu- 
ents. who, poQs show, want no part 
of Mr. Reagan’s quarrel with the 
Sandinists. And it wasn’t Mr. Orte- 
ga)? trip to Moscow. After all. 
Prime Minister Rajiv Gandhi, who 
also went to see Mikhail Gorbachev 
and take money from him, was in- 
vited to address a joint session of 
Congress — “and at the request of 
the president," Mr. 0*NeiU noted. 

“I don’t know,” he sflid. *T can't 
explain it They’re afraid. They’re 
afraid of Ronald Reagan." 

Washington Post Writers Group. 


islands such as Lemnos — all of 
which sprang from the Pandora's box 
opened by lhe Cyprus crisis — con- 
stitute problem number three. 

These are the “national problems” 
that Washington is called upon to 
understand. As the dominant super- 
power in the region the United States 
has the ability to help resolve them. 

By the admission of Grade, Turk- 
ish and American officials, the single 


most effective catalyst for resolving 
would 


the Athens- Ankara disputes 
be a Cyprus settlement Washington 
gave behind-the-scenes support to a 
UN-sponsored meeting in January 
between Cypriot President Spyros 


Kyprianou and the Turkish Cypriot 
leader, ~ 


Rauf Denktash. The meeting 
was a failure; Since then Mr. Denk- 
tash has proceeded to consolidate the 
self -sty tel state he proclaimed in the 
occupied north of Cyprus in 1983, 
through a referendum for a “consti- 
tution” and so-called “presidential 
elections" — moves lhat in the view 
of Western diplomats in Nicosia do 
not bode well for a settlemenL 
Roughly puL Mr. Denktash talks 
to Ankara, and Ankara talks to 
Washington. That seems an obvious 
place to start if the United States 
intends to respond to the first part of 
Mr. Papandreou's propotation. 

As for the second part, Mr. Papan- 
dreou says he will moke efforts to 
explain to the United States that 
there is nothing personal in contro- 
versial positions that Greece ought 
choose to take on international, bdai- 
eral or NATO issues. The Greek 


skepticism over the Sooth Korean 
airliner ir 


incident, or 


man to 

sanctions against the Jaruzelslti re- 
gime in Warsaw, might not have 
aroused quite such a storm if they 
had been expressed with more tact 
Yet it is difficult to imagine Wash- 
ington not bong furious with Mr. 
Papandreou if comparable disagree- 
ments occur during his second term. 
When and if this happens, there is 


something that might be borne in 
"" tited States is 


mind: The United states is reaping 
today, in Greek anti- Amer i can ism 
and a relative Greek tilt toward the 
Soviet Union, what it sowed by back- 
ing the Greek colonels in the late ’60s 
and early '70s. This is one of the 
lessons of Mr. Papandreou’s Greece. 

International Herald Tribune. 


States,- Japan and, to a much lesser A 
extent, some other Pacific countries. 1 
To make more of it is to raise false 
expectations, or fears. 

The Pacific Basin does not even 
have a traffic cop; no authority co- 
ordinates the movement of trade. 

And no collection of nations could 
have more disparity than the large 
and small capitalist and socialist and 
communist, religious and nonseclar- 
ian, lending and borrowing, strong 
and weak countries of the basin. 

It is half the world, and the only 
common link is a shoreline washed Ity 
the Pacific Ocean. 

Even the free- market nations do 
not coalesce. Singapore would fed 
overwhelmed in the same league with 
the United States and Japan. (“At 
some point we might think of a Pacif- 
ic Crescent," a Singapore economic 
official said. “This would swing along 
the Asian coast from Japan to Aus- 
tralia, but preclude the United 
States.”) South Korea and Taiwan ^ 
compete, and both, like Japan, fear w 
rising protectionism in America. Ma- 
laysia, Indonesia and Thailand are 
beginning to bite into some of South 
Korea's and Taiwan’s old markets. 

Yet the dint shines among Pacific 
Rimmere. Seminars and conferences 
on the Pacific Basin are held by the 
score each year, often sponsored by 
scholars but attended by government 
officials and business executives. 

Among the subjects Pacific Rim- 
mere dia^ when they get together is 
who should belong to the group. If 
China, what about Taiwan? what 
role for Vietnam and North Korea? 

How about Mexico and other Latin 
American countries? They also dis- 
cuss agendas — what they should 
discuss. Topics range from nucleajj£ 
energy to student exchanges. 

An interdependent Pacific Basin, 
united in prosperity, might be the key 
to a peaceful world. But it is rare to 
find even two countries with enou 
in common for a lasting bond. In 
end, national interests prevail 

Next year’s Pacific Rim E 
probably won’t attract as many as 
250 exhibitors this year. “We have 
better things -to do than talk with 
other exhibitors," one company’s 
agent said at her lonely booth. 


The writer is the Los Angeles Times'. s 


LETTER TO THE EDITOR 


Apartheid Won’t Wither proaeh WiD patiently (and indefmite- 

The “serious, nonracist case v 

against sanctions" espoused by The “.P 01 , ? mp,y ^ 

Washington Post in its editorial Wl “f ns Macks economic 

“Sanctions on South Africa?' Saw but that 

7) is a bit difficult to take seriously social justice, 

precisely because it proposes an cc£ mv °lved m the apartheid 

nonric solution to a political problem. £ohT em ~ < arc 4011 human 

The argument that economic r ^ ■ econoi ? uc opportunity, 
growth will solve the blacks' pmb- sanctions would not only 

Lems is not oily mistaken (witness a?!? a P° we T^ message to South 
UJS. history), it confuses the issues that the status quo will not 

involved. It assumes that, if we wait wou *“ also provide the South 


long enough, apartheid wiD, like the 
Communist state, wither away. 
Unfortunately, those who 


power rarely offer to. share’ it*® 


others, least of all with those who 
have a rightful claim to it Further- 
more, it is far from certain that the 
intended beneficiaries of such an ap- 


African government with an oppor- 
tunity to introduce meaningful poti- 
Ucal change while it is stiB m a posi- . 
5°° *®5° M. It is an opportunity that 
me Afrikaners would be wdl ad vised 
to take advantage of. 


DANIEL BRIGHT. 
CMtiUoo, France. 





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FHngretenaM Pi— r 1 
GeM markets P*7 
talerest rata . R7 
Market smwaarr P. B. 
ObHqrs - KM 

OTC sta* P.M 

Oilier markets PM 


Iteraibsff^fcribune. 

BUSINESS /FINANCE 


SATURDAY-SUNDAY, JUNE 13-16, 1985 


U.S. Stocks . 

■ ■% 

Report, Page 8. 
Page 7 


ECONOMIC SCENE 


U.S. Shows Symptoms 
Of 'Growth Recession’ 


By LEONARD SILK 

. New York Times Sendee - . . 

N EW YORK —Is the United States econjomystouching 
toward recession? Skiiixflto:firrtbalfon984, when the 
gross national product, adjusted for inflation, soared at 
. qq yimnal rate of &6 percent, growth, ias slowed to a 
crawl. RealGNPiosc at an armuaLxate of only 1.6 percent in the 
third quarter of L984 r jpedced up to 43 percent in die fourth 
quarter and t hr^n slowed down to seven-tenths ofl parent in the 
first quarter of year, yielding an average growth rate of just 
23 percent for -the last tihreeqnarters. 

Thus, the economy appears to be in a “growth recession,” 
which Stephen S_ Roach, a vice president and senior economist of 
Morgan Stanley & Co, defines " as a period marked by real 
GNP growth of 23 percent or ' 


down for 4e rest 




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Most economists are 

six growth recessions. In five , down for the rest 

of tiwn , inc reasing idle mdus- . 

trial capacity and rising inter- o£ pus year. 

est rates pushed the economy — -- — - ' - ■ — 

into outnghl recession. . . 

The sixth case, at the rime called a “ririxti-recessioii,” lasted 
from the quarter of 1966 throagh the second quarter of 

1967, with real growth averaging 2.4 percent The five quarters of 
growth recession culminated in resumed expansion, with the help 
of bulging milit a ry sp ending during thft Vw^ tnam War. 

Couid flie cairrcnt qjisodeprove to be another exception to the 
norm of real recessions 'flowing growthrecessionS? As Mr. 
Roach notes, one significant difference now is that interest rates 
have been among down. Since the third quarter of 1984, the 90- 
day Treasury bill rate has dedined by more than 15 percent, 
whereas M the six preceding growth xecesabns h rose by almost 
15 percent. 

Offsetting that decline in' interest rates, however, are other 
negative forces. The c^adty-utflrraflon rate of manufacturing 
industry was at 82.8 percent at the start of the present growth 
recession and had fallen to 803 percent in ApriL By comparison, 
the n ip ft wtp tilmifinn rate in manufacturing averaged 87 per- 
cent at the outset of the .last six growth recessions and, four 
quarters later, was down to an average of 85 percent of capacity. 

The effect of the current low rate of capacity use is already 
evident in lower b usin ess capital-spending plans. The latest 
Commerce Department survey, conducted in April and May, 
found that businesses plan to expand capital spending in 1985 by 
just 6.2 percent, rather than the 73-percent increase they report- 
ed in the January-March survey. ‘ 

B EFORE the current survey, industry was planning to 
reduce its capital outlays in the second half of this year 
from a seasonally adjusted peak annual rate of $388.9 
frflHon m the second qaarter to $3843 hiTHrm m the second half of 
1985, with the Tnarmf^ -tpriT^g mrins fry tr i mmi n g its capital out- 
lays from a rate of $157 bilhon in the second quarter to $153.3 
bflKon in the second half. Bat uncertainties over the president’s 
proposal to overhaul the tax system, which would affect capital 
cost recovery and end the investment-tax credit, have apparently 
caused manufacturers to raise their capital-spending plans by 13 
percent, to get in ahead of the changes. . 

Another factor pushing the economy down that was not 
present in eaiher. growth recessions is the overvalued dollar and 
the weakened foreign-trade position of tbe-Umted States. Unless 
there is=a^agnfficam a>nectiQn. in the •value of the dollar, Mr. 
-Roach warns, “areplay of cyclical history becomes a distinct 

P °Even 1 3' the current growth recession does not turn into an 
outright one, most eco nomis ts are marking their forecasts down 
for the rest of this year. The latest roundup of more than four 
dozen economists by Robert J. Eggert, editor of Blue . Chip 
Indicators, finds thalthey are now forecasting real GNP growth 

(Confmmd oa Rff 15, CoL8) 

Currency Rak*s 


Japan’s 

Growth 

Falters 


Export Decline 
Blamed for Dip 

By Keith Stafford 

Reuters 

TOKYO — Japan’s economic 
growth in the first quarter of this 
year dropped to an annual rate of 
0.4 pocent-compared with 9.9 per- 
cent in the last quarter of 1984, the 
Economic Planning Agency said 
Friday. 

Economists said the sharp (hop 
was mainly due 10 ft Hcrfin* jjj (he 
growth rate for exports, caused by 
the downturn in tbs UJL economy, 
Japan's major overseas market. 

“It’s pretty disappointing,” said 
Nick Gregory, an analyst with 
Hoare Govett (Far East) Lid. “It’s 
worse than expected.” 

The drop in economic activity 
left the final growth rate for the 
fiscal year ending March 31 at 5.7 
percent after adjustments for infla- 
tion, the highest since 1972. 

Japan’s economic growth is mea- 
sured the same way the United 
Stales determines its gross national 
product, or GNP, the total output 
of a nation’s goods and services. 

Economists at the Nomura Re- 
search In s ti tute predicted that the 
growth rate in the 1985 fiscal year 
would be around 4.4 percent. 

Lower export growth, an anemic 
improvement in domestic consum- 
er spendin g and restrictions 00 
government spending were to 
blame, they said. 

The poor economic performance 
was hkdy to increase pressure on 
Prime Minister Yasumro Naka- 
soae to abandon his tight state 
spending policy, analysts raid. 

lndnstnahs is m-gp y that tty gnv- . 
eminent should spend more on 
public works projects, such as 
noosing and roads. 


Northrop ’s Fighter Climbing Fast 


Air Guard Lobby Boosts 
Fortunes of Tigershark 

By Wayne Biddle 

Sew York Times Semce 

■ WASHINGTON — Buried among 20Q pages of 
the 1986 mOitary programs bill that the House of 
Representatives will debate this month is a con- 
gressional instruction that is rare in .the armaly of 
Air Force procurement. It calls for direct competi- 
tion between two warplanes — General Dynamics 
Corp.’s F-16 Falcon, of which the Air Force has 
already , acquired more than 1300, and Northrop 
Corp.’s F-20 Tigershark, a plane that nobody has 
bought so far. 


What Northrop’s 
Tigershark Has Cost 

Annual spending for F-20 research and 
development and how it shrank operating 
income in the early 80’s, in millions ol 
dollars 250 

Expenditures PjZj Operating income 

K m ■ ■ 200 


U.S. Output Fell, 
Producer Prices 
Rose During May 

Conqnled by Our Staff From Dispatches ~ ~ 

Washington — output Reagan Rumor 

from UJS. factories sagged for the 

second straight month in May, but A ft art* Tinllnr 
a modest rise in wholesale prices JJ 


will sell a angle F-20 to the Pentagon. And it may 
be, as some in Washington ray, that the plane is 
being used simply to beat down the price of the F- 
16. 

But the F-^s prospects have nonetheless sud- 
denly blossomed. In addition to the military-re- 
form movement is Combmi. the plane has b een 
given an assist from budget constraints on the Air 
Force, a drive by the Air National Guard to win 
new aircraft ?ne«Mri of traditional Air Force hand- 
me-downs and Northrop’s own lobbying and mar- 
keting skills. 

And there may also.be an export market Na- 
tional security officials disclosed on Wednesday 
that Jordan appeared to be moving toward accept- 
ing Washington’s preconditions of negotiations 
wnh Israel for purchase of the F-20. 

Indeed, the Tigershark was designed at the be- 
hest of the Carter administration as a less-expen- 
sive fighter for the export market The idea was to 
make planes available to friendly countries, but 
not such high-performance aircraft as might tip the 
balance of forces in any region. 

However, under the Reagan administration, for- 
eign governments have had liberal access to the 


W Ol B2 -84 _5() 

Tha New TorV Tm» 

most sophisticated American weapons technology, 
leaving the F-20 oa the shelf. 

As a result Northrop, which has invested $800 
milli on in the F-20, has built only three prototypes, 
two of triiidt have crashed. 

The House Armed Services Committee's unusu- 
al requirement on competition, which the Senate is 
likely to accept, is part of the extraandinaiy turn of 
fortune for the F-20. 

The story of the F-20*s climb out of five years of 
commercial doldrums into the House legislation, 
and into the Air Force’s budget plan for 1987 and 
beyond, reflects much more than the new fashion 
for competition in Pentagon procurement 

“Northrop waked like a demon for four or five 
years and got absolutely nowhere,” said an aide at 
the Senate defense appropriations subcommittee. 
Then suddenly, this spring, the company seemed to 
hit paydirt. 

According to Representative James A. Courier, 
a New Jersev Republican who pressed for the 
language in tne House committee bill calling for 
competition, a confluence of factors helped Nor- 

(Coutmned on Page 15, CoL 6) 


Compiled bf Our Stiff From Dispatches 

WASHINGTON — Output 
from UJS. factories sagged for the 
second straight month in May, but 
a modest rise in wholesale prices 
held out hope that the lagging 
economy could be stimulated with- 
out rekindling inflation. 

The industrial-production and 
wholesale-price reports issued Fri- 

U.S. car makers said sales rose 
more (ban 15 percent in the first 
10 days of June. Page 14. 

day by government agencies — 
both in line with expectations — 
revived speculation that the Feder- 
al Reserve Board would fuel the 
economy with lower interest rales. 

The Labor Department's Pro- 
ducer Price Index showed that 
wholesale prices rose 02 percent in 
May, an increase attributed almost 
totally to sharply higher energy 
prices for tbe fluid straight month. 

Although the monthly figure* 
would translate to a 23-percent an- 
nual rate, there is broaa agreement 
among analysts that the big burst 
in energy prices of the past three 
months is almost over. 

Wholesale inflation for the past 
12 months has been 1.1 percent, a 
figure held down by the fact that 
prices remained steady or fell in 
eight of those months before rising 
energy costs in March. 


The Associated Press 

NEW YORK — Sharply 
lower U.S. interest rates and ait 
unfounded rumor that Presi- 
dent Ronald Reagan had a 
heart attack sent the dollar tum- 
bling Friday against other ma- 
jor currencies in New York. 

The rumor about President 
Reagan started in the Far East 
and spread to trading centers in 
Europe, and on to New York. 
The dollar stabilized after the 
White House spokesman. Luny 
Speakes. denied the rumors, 
saying the president was “hale 
and hardy.” 

In New- York, the British 
pound climbed to $12830 from 
$1.2660. Other dollar rates in 
U.S. trading compared with 
Thursday were: 3.0615 Deut- 
sche marks, down from 3.0930: 
23700 Swiss francs, down from 
2.6070: 93400 French francs, 
down from 9.4300. 


“However, it is not unusual Tor 
the economy to go through growth 
pauses such as the one we seem to 
be experiendng, and with falling 
interest rates and low inflation the 


1 /tiv J I y' n| r.||. A -] -g HiuywjJuuunBiui. UIICIOI laica oau IUW uuuum 

Guinness Bids $416 Million lor Bell S'S roripauie 

1.1 percent in May after a 1 -percent David Ernst of Evans Econo 

By Bob Hagerty another potential bidder could low of 130 pence earlier this year, decline m ApriL ... Inc. said, “I don’t think it’s a 
International HeraS Tribune have built op a stake in Bdi Mr. Saundeis said Guinness's Federal Reserve s mdusm- of recession at alL I do think 1 

LONDON — G uinness PLC Ernest Saunders, Guinness’s marketing siring would improve al-producuon report showed that see output begin to pick up ii 
opened Friday what promises to be chief executive, brushed aside sales of BelTs whiskies, particularly 00 was down 0.1 percent in months ahead. The flip side is 

a fierce takeover battle by offering BdTs objections. “We arc putting in the United States. He argued May after a 02-perccnt dahne m the strong dollar has been kee 

to acquire Arthur Bell & Sons PLC two great brands together,” be ex- that his company had proven its Ap™- That signaled that the first- inflation low.” 

in a share swap valuing tbe S^p tr-h ultedT and to prove the point the marketing sknh over the past three qusrter economic growth rate of In another report Friday, 

whisky distiller at about £325 mil- company offered both Guinness years by rever sing a 10-year decline ^.7 percent was u nlikd y to show a Commerce Department said in 


to acquire Arthur BeD & Sons PLC 
in a share swap valuing tbe Scotch 


Japan caxmot overcome its prob- whisky distiller at about £325 mil- company offered both 

, . . ■ . r _ l* /rite :iir \ 


another potential bidder could low of 130 pence earlier this year, 
have built op a stake in Bdi Mr. Saunders said Guinness's 

Ernest Saunders, Guinness's marketing skills would improve 


eat brands together, 
and to prove the p 


leans by trying to export more at a 
time when it is under pressure to 
reduce a massive trade unbalance, 
analysts said. 


lion ($416 milium). 


Bdi, based in Perth, Scotland, meeting. 


stout and Bell's whisky at a news of Guinness stout sales in Britain 


Food prices, the largest single stage should be set for a pause that 
component in the index, were down refreshes,” he said. 

1.1 percent in May after a 1 -percent David Ernst of Evans Economics 

decline in ApriL Inc. said, “I don't think it's a sign 

The Federal Reserve’s industri- of recession at all. 1 do think well 
al-prod action report showed that see output begin to pick up in the 
output was down 0.1 percent in months ahead. The flip side is that 
May after a 02-percent decline in the strong dollar has been keeping 
ApnL That signaled that the first- inflation low.” 
quarter econo mi c growth rate of In another report Friday, the 
0.7 percent was unlikdy to show a Commerce Department said lnveft- 
dramatie turnaround when the first lories of manufactured goods rose 


and rapidly increasing U.S. sales of on second-quarter growth 0.4 percent in April after a 0.1- 


raected the surprise ap- To Bdi shareholders, Gninoess the black brew and several other available Thursday. percent dip in March that was the 

. I v a • _ - *•- J . 3- L. • i A _ of th* n/f>a L-n IK C In ihp fnvt in tnm ironvr TTi* ■«. 


analysts said. proach as “wholly lacking in merit offered nine new ordinary shares in 

The Japanese trade surplus this and demonstrably inadequate.” In- Guinness for every 10 Bell ordinary 4 _ w „ . , - . - ..... fil 

year is expi^M to readi 540 billion vestment analysts said Guinness, a shares. The brewer also offered an ^ ““J 3 * 1 : Mf- Saundos ar- manufacturing sector. US. bust- wholesalers and retailers, said ovct- 
and tiSThave been widespread London-based brewing and retail- alternative of 225 pence in cash for ®?«LBeDs share of the British nesses are struggling with foreign all sales were up 12 percent m 
thc^d mg coopmy, 3< 10 Bise au± Bdi share. whgky rate to isfaped lo a) compoi^ bemuse .hr high dd- April. 

States, for protectionist h yfoxtinn its bid substantially to succeed. Guinness shares closed Friday at Bf 1 * 01 * rom a ^ 8°°ds more costly The ratio of inventories to sales 

to cut down on Japanese imports. “Nobody thinks they’re going to 256 pence, down 17 pence from ® ve ^ s r ^‘ thmi tbosemadem othCT countries, was 137 m April, down 0.01 from 

Kazuo Kida, cmef economist at get it at this price,” said a lading Thursday on the London Stock Ex- forts to bmld up U3. sales a fail- John Albotme, preadent of the March, meaning rt would take 137 

Sumitomo honk, said the disap- beer analyst, who predicted that change. At that level, the share of- are - American Business Conference, months to wori: off inventories at 

pointing first-quarter growth figure tbe bid would have to be raised to. fer values Bdi at 230 pence a share. ' He conceded that the Scotch sa, “ the mdustrim-producDqn fig- the sales pace for that month, 

was dnenrimarih/ to a slowdown in at least £380 million. He and other Reflecting hopes for a higher bid, whislcv market is in severe slumn. 0I ! CS _ °ner corroborating evidence _ Separately, the Federal Reserve 


ordinary shares in brands. 
7 10 Beu ordinary 


Most of the weakness in the first in two years. The re- 
economy has been blamed on the port, which covers manufacturers, 

‘ - net i : ■ « . i i 


and there have been 


UdlBUftai, c&UCUilliy LU HR- UUIUU »uwu »■» *** low. — — ' . . . r . -F 

States, for protectionist l< yiria>inn its Itid substantially to succeed. Guinness shares closed Friday at E® 0011 iran a P cak 

to cut down 00 Japanese imports. “Nobody thinks fliey’re going to 256 pence, down 17 pence from 


to cut down on Japanese imports. Nobody thinks they’re j 

Kazuo Kida, chief economist at get it at this price,” said a 
Sanrilomo honk, said the disap- beer analyst, who predict 
pointing first-quarter growth figure tbe bid would have to be r 
was dne primarily to a slowdown in at least £380 million. He ai 
exports, especially electronic jaod- analysts said that active slu 
nets and cars, to the United States, ings in recent weeks sugg 


to 256 pence, down 17 pence from nve years ne^icu ooi . a- 
ag Thursday on the London Stock Ex- °P U-S sales a fail- 


beer analyst, who predicted that change. At that level the share of- 
tbe bid would have to be raised to. fer values Bdi at 230 pence a share. 


at least £380 million- He and other Reflecting hopes for a higher bid, whisky market is in severe slump, 
analysts said that active share deal- BeD shares shot up to 270 pence, 

ings in recent weeks suggest that compared with 192 Thursday and a (Continued on Page 15, CoL 6) economy. 


of the pervasive sluggishness of the Board reported that consumer in- 


U.K. to Sell McDonnell-Boeing Rivalry Heals Up 4#* to 

® ^ 3F1ants,LayOff 

China Buys 2 More MDBOs in Plan to Decentralise Airline j 900 Workers 

By Dinah Lee Mr. Chang, a longtime friend of problems, he said, would be ab- , . 

International Herald Tribune CAACs dirtctor-general Hu Yiz- sorbing CAAC personnd not re- . 

HONG KONG — McDonnell boa. enlarged upon China's plans cruited by the new airlines. CUPERTINO, phfonua — 

Douglas Corn, has announced the to introduce competition. The Mr. Chang foresaw other teeth- Apple Computer Inc, the seo 
rale of two MD-80 twinnet trails- P lans *** announced last year and ing problems as well smh as argu- ond-largcst personal computer 
S^SanStoaSa’sSJavK Jpproved by China’s State Council- ments over who wffl sell whosc.tick- maker in itheUntod States ,sui 
SSSSS lteCivaAvi- earlier this year. ets, who wffl own the i^ional Fn^y it woj^ ehmmte 1300 

fttiffn AdrmtritfSS nf China Last year, Chinese officials an- airports and how maintenance jobs m the first laigp-aale Jay- 




OCHH Batci June J* 

S t VJA. PJL ttx_ ' OHr. • BJ=. . SJv Yea 

Amsterdam 3MB Mil TIZH* 3WB- BJ7»» SSB* IXW l*3Sr 

■ramteta) csss nji m.1565 mus IMS* uxa — um hr* 

Franktart XM 1911 3UD* UOl* ttISS* AMI* lllSf* USS5* 

LoMteam law — xnu nass urns' *jatn im vm n&ios 

Mlkm IJSUO X*5J0 £17.16 3BU7 .. 545J0. JLiXJ 7 Sl» 7M> 

■ NM York(C) 0 l77M« XH15 VU 13«S0 161 . <L73 1S7 MUO 

Portt .. U7Z- 11MI 30m . OH* 27050 IMIS- IASS U70S* 

Tokyo MtJS 3KB . «Ut 2M7 1 251*. 715B 3N5S* 9173 

Zortca 25725 3JH7 HRS* 27** U3W*. TSitf* 4M»- 10152* 

1 ECU 17301' 15721 2249 AMU U2U0 25305 62112 W HUH 

1 SDH 19V709 BJ77R 1US88 925025 USA 3605 4U7BS ZSM5 2AR1 

' dosings Ut London and Zurich. Bxtmln other Curcuom ardors. Hew Yhrtc rates at 4 PM. 

(a) Commmrdal fraactb) ArmnnUnmaxt to buy one Pound tc) Amounts neetfaa to Duy or* 

Hotter w Units ot JOB fx) Units ofl JOB fy) UiUts of 10X00 ALQj'norooornf tUU ootmaftebte. 
WrobtrraaonuuBd-.SUSjaU 

OtherlMlM'Valm 

Cwiwey ton USJ .cormer par U« Conancy tor.uss • Corraoey par USJ 
Arwm.pcn 77020 Fte.mldm MI Motev.rttHU 2471 . S.Kor.*oa 875.15 

AatfraiS UK Oraakteoc. 13125 Max,»aao.'.'2HJKI Saon-patata 17528 

.Awtr.K&U. 2123 Hoaa Koagl - 7J72 Marw. krona OJ02S - Stvad. krone UK 

Bcte.fln.fr. . 8242 nadtanrww 12J4 PNLoaaa - a 17JB TcOwont 39.77 

Brazflona. sjmna litea.rvM lJlftSO Parlatcado 171M THolboM 27405 

Canadians 1248 Irtte* 19877 SowHrtyar USDS . TnrUttara 52745 

DanWikrtMB 11M7S taraafl teak- U33.K) Stan.!' - 2226 UAE dtrteaa 34725 

. BovvLpeand 1799 _ KamoWdlaar 02034 A.ptr.nma- 1J81 Vaaaz.bonv. 13.11 

. sSfcmiw; 12508 IrtrilE ' J .‘ .. 

. Sources: Basque do Benelux Unoste); Banco GwnmarEMr IfaUana (AUtenJ; Banner no- 
. donate do Parte (Porte); Beak of Tokyo (Tokyo); IMF (SDR); BAII (a tnar, rfyal tHrhom). 
.Other date from. Reuters and AP. . . - , 


cent holding in Britofl, the explora- 
tion and production arm of British 
National Ofl Corp- this summer. 


stallment credit outstanding rose 
$837 bflKon, seasonally adjusted, 
in April after increasing S834 bil- 
lion m March. The gain represents 
a 20.8-percent annual rate, slightly 
down from 21.4 percent in March. 

(AP. Reuters). 


Britoil Stake 

HONG KONG — McDonnell 
Compiled by Ovr Staff From DispatAa Douglas Corp. has announced the 
LONDON — The British gov- sale of two MD-80 twinnet trans- 
ermnent announced Friday that it port planes to China’s civil aviation 
would sen its remaining 48.8-per- authonty and airiine, the Gyfl Avi- 
rait hnlrfinp in Britofl. the exnlora- utico Ad n i iiu stiafion erf China. 


Corp. has t 
wo MD-80 


A week ago McDonnell Douglas 
disclosed a joint program with 


The government said it expected - Shan g h ai Aviation Industrial Corp. 
to raise about £500 million ($630 todeydop a new propulsion system 
nuflion) from the offer. . foraixcrtfL 

to a warn smmau 10 the 

House of Commons, John Moons. uiaioon a mo- 

TrSSo uSSretnTfflddK D®™? ponglas Chimston, 
i j " marks the latest round m a heated 

mfflion of the 243 mflhon shares to MrTVmnHi 

be sold would be reserved for com- 


earlier this year. ets, who wffl own tbe regional 

Last year, Chinese officials an- airports and how maintenance 
nounced the establishment of four costs will be charged to carriers, 
new regional airlines out of Mr. Hu has set a target for 
CAACs existing operations, plus launching the new operations with- 
one helicopter company. Mr. in two years. 


one helicopter company. Mr. 
Chang said, however, that there 


m two years. 

In May, Mr. Hu said he was 


pany staff. 


Douglas and its chief U.S. rival 
Boeing Co^ fra - the booming mar- 


TbegwernmenfsdetaminatiOT ket created by China’s plans to de- 
to^ Britofl was firstdisclosed by centraEze its airime operations into 
Nigd Lawson, the Chmcellor of separate regional operations, 
the Exchequer, on May 2. SC fo May, Rn ^jng srJri right air- 

Giving further d e t ails oa Fnday, craft, vamed at $350 ntiffion, to 
Mr. Moore said the price, to be rat CAAC It expects to announce 
this summer, would be payable in more sides in the cfwmng months, 
two installments: one on applies- Mr. mid China’s decen- 


were now plans for six CAAC off- ^jdtmg 15 to 16 hours a day to 
shoots and six mdepeaaeats. overhaul CAAC which is known i 
CAAC will divide its domestic throughout Asia for suiiy sendee, 
routes between Air China, Beijing; poor safety standards and unreh- I 
Eastern Airlines, Shangh a i ; South- ££je reservations and scheduling j 
em Airlines, Guangdong; South- predicted that even with a 
western Airlines, Chengdu; North- plamie d expenditure of $1 billion : 1 
western Airlines, Urumchi, and hi 1986, CAAC wffl not meet grow- I 
China General Aviation Co. ban- demand, which increased 40 
dling fecial operations such as pemem in 1934 from the previous 
filming, aerial surveys and govern- 

mart charters. ..... On Thursday, Mir. Chang said 

Mr. Chang < said the mdepen- fp^gQ aviation experts thought ; 


Interest Hate*- 


E uieemi tttey Payai — 


tion and the second about three mitigation had sent air craft sales- 
memths later. men scurrying “to see what people 

He said existing shareholders waat -” 
would, “subject to any legal restiio- McDonndTs latest sale brings 
tiohs overseas, be given cer tain the total of .MD-80s purc hased by 
preferential allocation entitlements C hin a, to 30, at an es tima ted price 
to acquire tbe shares on offer.” of nearly SI bflEon. In December 


expects to announce '-uans e saiu u k f ora gn aviation experts tboughi ^ - d ■” 

itnerammg months. J«ts are m Shanghai, ^ Ha’s goal was^ealistic. 6ut de ^; e s ^ n _ anv ,, 

wouW b, -daw and dim- 


f- v " *' 

_ ..... - 


rtenar ' 

D-Mqrfc - 

. Suites 

■ FraK 


ecu 



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nun 

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tttalMk Mrw-IOM. 

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X .• *- * 

m - - 

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?Kr*Hi 


Sources: Maroon Guaranty (doBar, DM. SF. Pound. FFit AJOrtte Bank (ECU); Reuters 
. tSOR ). R ote s e n d ttx tete to Interbank denastH of n mtUten rnWniiw (oreoutvafwnt). 


— nTTH^ H> 

i5Tn » 1,11 


Key Mwuy 


prion Bote 
■ralnr tea Rale 
can PawrfMlf dan 
Mnaatt Timrv Bffls 
a^nootb Traaurr BRi 
CDVMIdm 


TTx 7te 

ta urn ' 
1 B V ' W 
m IM 
727 . IM' 
ITT 191 
US. 7.» 
7M 725 


cmsMfrean 

7J# 

735 

WatOanaaav 



LaareardRate ■ - 

US' 

oa 

OvemteM Ret* ; 

« 

uo ■ 

OeeMiatt] bitertessk 

SJ 8 

SM , 

Senate tehirtrak 

5J6 . 

sn 

Mnsate Marfcenk 

. «*“ 

535 

ftw 



lnwnatteiBBte 

mu ■ 

Wtt 

CattMwmr ' 

IN 107/32 

oae-reMfli taterteek 

m ■ 

TO . 

MMarelatetak 

m.: 

TO ‘ 


ArioaBoBar P epori te 

June 14 

lmaaffi ;■ , 7W-TVk 

IoMRHis »-Ttt 
. Jmdhi : - Tw-nt 

< 0 Mntk 8 .. n-i 
1 TOar . v -M-m 
Souroer neu t ers. ■ ■ 


1 LS. J M te wey Mi-kot f —Ai 

' ” • June 14 

•te im uiawr. a«k 
3ariav.«nnwvtau: US 

Teterpte j>iv«7 Rotelodax: 720* 
Source: Merrill Lynch. AP 


. BritoO -a a,da . g IS^SSJSSSSt^ 

exploration _andprodircrira and is . mw 25 of which wffl be financing, training and marketing. 

» wi uamuB iu urn vim coproduction agreement is mennt their own personnd. Mr. | 

^ the first ofits kind with China and. Chang said. One of Mr. Hu s major 

Britofl was folly state-owned un- according to Mr. it is ihe 

til Prime Minister Margaret largest b usiness t rancartion m Hale — 

Thatches Qmservative govern- between a U A country and China. ^Tm\ ^lIlinTn 

men . ISQ l .lSF 51 -2 P^cf 01 “No- Mr. Chang said the coprodao IL/fi VfO)J IJK IvUL/ 
vember 1982aspaztof itsproaam don agreement ironed out ai least ' OnrireFr^ch Riviera 
r^mmug large dmnks of Biit- 10D n^or legal and. technical im- ™ 


Shenxhen. Chinese Intonational 

Trust and Investment Corp. will mM[b wc wffl host 16 of 

opaate helicopters imdir lease. Hu’s airime planners in Long 

CAAC will remain the regula- Beach ^ CaliforoiTtoedocate and 
tory body and will retain licensing train them in what an airline is like 
and pitot-certification nghts It ^ ^ it ^ operated, in a two- 
alsowffl approve regional ariine program .” be said. He add- 


purchases, although the airlines «j that some of tbe new regkmal 
\wD be responsible for thor own executives, “don’t even 


know what a contract is.' 


77if Associated Press 

CUPERTINO, California — 
Apple Computer lixx, the sec- 
ond-largest personal computer 
maker in the United States, said 
Friday it would elinunate 1,200 
jobs in the first large-scale lay- 
offs in the company’s history. 

Tbe layoffs wffl occur when 
plants in Dallas: Garden 
Grove, California, and Ireland 
are dosed, along with the elimi- 
nation of about 500 other posi- 
tions, tbe company said. Apple 
mil continue to make its com- 
puters and peripheral products 
at plants in Fremont, Califor- 
nia, Singapore and Cork, Ire- 
land, a spokesman said. 

“The slump in the personal 
computer industry is significant 
and Apple has taken aggressive 
steps to bring our organization 
in line with these conditions,” 
John Sculley, the film’s presi- 
dent, said. 

The company’s stock ended 
trading Friaay at $14.75. down 
123 cents. 

The company said in late 
May ih«i third-quarter earning s 
for this year should be lower 
than tbe second quarter, which 
produced revenue of $435.3 
million with net income of 
$9.98 million, or 16 cents a 
share. . . 


MANAGED CURRENCIES 
PROGRAM 

PERFORMANCE RESULT 
FO R BEGINNING EQUITY OF 

% 10,000 
JANUARY lif 1985 

HAS BECOME 

$ 14J13 
JUNE It 1985 

AFTBt AIL COMMISSIONS 


NEXT RESULT H JULY 15th ISSUE 

THEBE S NO tANAM3&tB4t FEES. 

PACT PEBFORMM’CE S '' 

no guarantee 

OF FUTURE KRTCHtMANCEi 


Ofiviar Dalafan 

A. Vico PraKtonl 


43, Avanue Mcrcnou 
75116 MBS • FRANCE 
TaL 72341-51 
Tales 630975. 

FOR NON FKNCH KESDB4TS ONLY. 


meat sold off 51.2 percent in No- 
vember 1982 as part of its prooam 
of returning large chunks of Brit- 


On the French Riviera 


Gold 


Moore iBtortoall 


win*- - W 


«.!> - * ' 

. -Vi" f : 


.’•el 

in. •* 

v„- > 1 * r ' 

, % 

- - 

A. sr- 


Britain 

Book Boh Bote .TO T2» 

CrtMow TO'-.nft 

nCurTnktety.UR - . . .12 « 

SomoHi lalll&wa 32 7/M ■ in* 


I DlKSMIRcte 

' caflMonrr 
(May tsMOaak 


■ S. S 

. *vu (te 
1 ksnt tint- 


Sums*: Reuters. Ca mnrerxtea fc' CrMtt 
LvematsUBxHBuik. Book ol Tokyo. . 


."y Jane 14 

.• AJ ^. . pjyL 

SMAS SUSS +0JS 

tJW H *— i p m 7S .. — +035 

Porte Ctasuto) 2I4C7 .. . 2U27 +179 

surtete-.. . 3M3S - areas +am 

Loodoa^ mis . am +4JE 

HreYktk ■ — 3NJ0 +479 

LtMwntam.nvlB and London affletef R*- 
km ytena Kuna and. Zarten ocarina and 
efiasfaff.-BFfcBs.- Hew Yte* Comex Current 
contract. Attnekes la U Soar ounce. 
Seatite /tauten. 


ain’s public-sector industries to pri- passes that had blocked accord as 
vale hands. (AP, Reuters}, recently as December. 


NOVOTEC INVESTMENT FUND 

Sodct& Anonyme cTl nvestissnMdt 
Luxemboioa.37. me Nocre-Dame 
R.C. UucembooTS B 20.653 

Avis de convocation 

Messieurs les Aciioanaires seal convoques par 1e present avis a 
rAssemUte Generate Staruair: qui aora Beu le 25 join 1985 i 15.00 heures 
dansfcs bureaux de la Krefetb ar k &A. Lmeaibou/gaoise. 43t Boalevarf 
Royal Luxembourg, avec Toidre du jour suivant: 

Ordredu jour 

1. Examen des rapports du Cooseil d'Admbtsuanoo et du Com mis- 

saire aux Comptes. _ 

1 Annotation duNbn a ducomptedesrisaitatsiu 31 man 196$. 

3. Affectation des rbuhats. 

4. -Decbarfteaui adwininraiearaetaucoiniafegiie amt comptes pour 

ra nnec c co ulec. , . 

5. RcnouveSement du mandat du commissaire aux comptes. 

6 . Approbation de la cooptation aux posies cT admhnaratcu rs de 
Mes^eura Ren£ Cboulei et Roben AndousseL 

7. Divers. - 

Le Cmseil (TAdministraiion 


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Mfriwnmi wohinthm lKA 






Page 8 


INTERNATIONAL HERALD TRIBUNE, SATlffiPAY-SUNDAY, JUNE 15-16, 1985 


NYSE Most Actives 


IBM 


BuTTfltl 

AT&T 

AmExp 

LILCo 

AMD 

PocGE 

HewlPfc 

F-ridNM 

TfVA 

Coo El 

PhlPtPf 

Ahmn* 

PonAm 


13380 




High Lew 

Lost 

aw. 

121* 

119% 

121 

+2% 

56 

54% 

55% 


57 

55* 

55* 

— 1 

23% 

33 

23% 



45% 

47* 

+1% 

9* 

8* 

8% 

+ * 

24% 

23* 

24* 






31% 

32% 

33* 


20* 

19* 

20* 


20 

19% 


— * 

59% 

59* 

22% 

22 th 




% 


6% 

5% 

6% 



Dow Jones Averages j 


Omm xijti Law Last cm. 

Indus 1297X4 130444 1SSBJ7 130006 + 1QJU 

Tnm B33M 639 ,9B 42803 634. 94 + 734 

Uhl 14152 14132 14255 14400 + 149 

Comp 534X7 539 iM 331.13 534.93 *■ 108 


NYSE index 


Composite 

industrials 

Trams 

Ulimm 

Finance 


HIM LW CMM Crve 

10&56 10789 10654 +037 

122.95 12125 12285 *0.95 
104.18 10309 104.18 +189 
S9JI 5094 5931 +838 
11738 11449 11731 +0.93 


Dow Jones Bond Averages 


Bonds 

Utilities 

industrials 


Close cute 

8000 +033 

7732 +0« 

BITS + 032 


NYSE Diaries 


AdvrvKod 

Dedfnod 

UnchanMd 

Total issues 
Now H lofts 
Nan* Lows 
Volume up 
Volume down 


W47 

418 



44* 

415 

2827 

2041 



27 

i 

Z1054J18 

34 


Odd-Lot Trading In N.Y. 


June 13 
June 12 
June 11 
June 10 
June 7 


Buy Sales 
207893 446,004 
201334 451380 
199844 440.143 
200304 484.433 
201331 495307 


'Included In me tales figure* 


•stm 

1J969 

1614 

1307 

943 

1324 


Fridays 

N1SE 

Closing 


vol at 4 pja 73/ntjm 1 

Pm.4PJW.vnL 107330000 

Prav coasoOdotBfl close lJimosB 


TaBles Include (tie nationwide prices 
up to the dosing on Wall Street and 
do not reflect late trades elsewhe r e. 

yia The Associated Press 


AMEX Diaries 


Advanced 

Declined 

Unaxnsed 

Total Isaacs 
Nn* H lofts 
New Laws 
Volume up 
volume down 


Close 

prav. 

209 

174 

IM 

373 

27B 

V4 

741 

TVS 

18 

10 

11 

3.I47J85 

1097395 

12 


NASDAQ Index 


Composite 

inaustruu 

Finance 

insurance 

Utilities 

Banks 

Tramp. 


CKne 

28795 
29501 
37031 
3J8 71 
27434 
78133 
242.94 


week 
CAM Add 

+ 1.0? 39133 
+ Wi 30139 
+ 0.77 3+439 
+ 038 J44J4 
+ 1.18 2!937 
+ 1X5 37607 
— 1.92 349J3 


Year 

ADO 

291.70 
J94.15 
34035 
34903 
280 Kl 

275.71 
24023 


Standard & Poor's Index 


Htgti LOW CMM CBM 
Industrials 30604 20433 204X4 + 191 

Transp. 16108 161.93 16302 +1X8 

unnries BA0I 8177 8601 +004 

Finance Z2J1 2254 2231 +027 

Composite 187.10 18533 187.10 +■ 137 


AMEX Sales 


4 pjul volume 
Prev. 4 P.M. volume 
Prev. cons. voAinie 


60)0000 

7X10000 

7X10X00 


AMEX MOSt ACttVtt 1 


BAT in 
TeeAK 

TIC 

□oiaM 

wanes 

Crv**o 

Echos a 

CaarhH 

pamef 

EWnor 

Dir Ad" 

NYTime 

Lorlmr 

AMSM 

KavPK 


V0k 

3774 

3X3 

MU 

»t 

2S»* 

2151 

WO 

IT** 

Mta 

117 

8>2 

*24 

& 

582 


we*> w" ns* °»- 
«% * 

T 

SS SK 

re r* 

M u tile 

*v» *»% 

M 3 

III 6* 

|+ 491 

66% 45*1 
J7V. N’t 

:?» r+ 


*% 

W'A + * 
« -* 
tm + 1» 
184 + * 
n» + w 
11*9 + Vt 

» ** 


44% + 14 
30% - H 
39b +1* 
*9* — % 


AMEX Stock Index f 


Htoh 

325.74 


LOW 

234.7* 


K5JJ 


due 

+AM 


12 Montft 
HlBftLen Slock 


Sts. Oase 

Dfv. Yld. PE 1005+1 left Low Quo! CUM 


23-4 14 AAR 41 24 14 58 IB* 1844 1B%— ft 

181a 9% ACS « 73 1X44 14 14Vh — W 

1644 944 AMCA 10 10V 1844 10J 

2! to 134* AMF JO 25 40 2973 20* 1944- 1944 — * 

514* 50 AMF pf A91e 9X 613 51* 50* 51 

48% 2416 AMR 10 4821 4344 43* 43% + *4 

2274 IBM AMR pf 2.18 M 26 22 2174 23 — % 

lev* 74* APL 2 Blh fl% 8% , „ 

6244 4444 ASA 2JM 4J> SUM S® 4944 SO +4* 

27 >3 AVX X2 25 10 555 13V* 1344 13 — ft 

24'* 16 AZP 272 104 8 575 2414 24 2444 + ft 

57t» 344* AM Lob 100 25 16 4074 SS* 54% + % 

25th 174s AcCTWd 9 SI U 17 111 + ft 

1*4* 12Vi AcmeC 40 2.7 124 15% 144* 144*— ft 

171b 15 AdaEx t.92e11X 59 1714 17 17ft + 14 

J1 21 I 18 1544 IS* 1544 

J3t 40 17 34 10% 10% 10% + * 

10 9809 244* 231* 2414 — 4* 

.13 M 49 844 844 894 + % 

12 100 124* 12)4 1214 

2X4 5X 33 1485 451* 444* 451k + *4 
SX9B1O0 144 5444 54% 54% + * 
IJO 13 15 7950 34 3444 34 +114 

50 2% 244 214—14 

1X0 2J 12 

50 3D II 


2.929105 


JS 

36 

1X0 

1X0 


8 

. la 
Z3 19 


20 ll*b AdmMI 
I9VJ 8% AdvSvs 
4114 24 Vs AMO 
12% 644 Advnt 

14*4 9 Aerflex 

47 27* AetnLf 

574b 524* AetLri 
3744 1 7*4 Ahmnj 
34s 2% Alleen 
54 3844 AlrPrd 

2444 13 'AlrbFrt 
2 1 AIMoai 

2744 21 AlaPpf _ . 

334b 264* AlaP Ft A 192 12J 
B 6'k AMP dpi X 7 1T.I 
794* 61% AMP of 9X0 114 

IBS* B5 1 * AlaPpf 1 1-8-0 110 

B5M, 63to AlaPpf 944 115 

74 57 AlaP Pi 8.1S IIX 

71 54 AMP pf 8X8 12.1 

16% 11 A loose 3 104 63 

25* 9V« AhkAIr .16 J 
184* 104* Alorfo S 

33’- 23TS Albtim 

31b 23b Alcan 

37 IS 27 VS AI005M 

32 17 AtexALx IJM ax 

24'b 70+ Alex dr 19 

B9Vi 72b AMaCc 9041 VS 25 
244. 23'+ AloCn Pf 2X4 10.7 
28 V* I84< AJglnt 150 58 

704b IV* AM I no* 2.19 108 
98 81b AtalptCTIXS IIX 

344b 244« AIMPw 2X0 80 10 
201b 154* AllenG 50b 35 14 
444* 28V* AMdCp IJO 4J 0 
64 53Tb A IdCa pf 6X4 165 
l!3’k 99 AWCP pfT2.00 10.9 
1044b 1004* AldC Pf 12Jlel2JI 
23 Vj 144b AlldPd 17 

59V] 404* AlldSlr 2.12 3X 8 

124* Sis AlllsCh 

347S 24 AllsCpf 
28 Vb 30 ALLTL 
394b 294* Alcoa 
224b 154b A max 
34 224* AmHes 

1409V 98Vb AH05 Pf 3J0 
24* lb AmAsr 
21481 15b ABokr 9 

70 53b A Brand 190 57 9 

29b 244* ABrdpf 2X5 9J 
70+ 544* ABid of 257 19 
115 54W ABdcst 150 15 17 

24*b 19V] ABIdM M 35 13 
27b 20V* ABusPr 54 25 14 
584k 40b AmCan 290 5.1 11 
25b 21b A Can of 2X0 11.1 
51 37 ACanpf 3J5S 40 

20*b 144* ACaoBd 2X0 MX 
30b 25b ACanCv 2Jle BJ 
11 6V1 A Con 1C 22S 

549V 434b A cyan 
29b 184* ADT 


220 53 524h 52b + b 

25 20b 19b 20b 
115 14* lb 1> + b 

16 279V 27b 279V 

7 32 Jib 32 + Vi 

32 7b 74* 7b + b 

4402 79 79 79 

50ll00 100 100 + WT 

llltetSb 83*b 83b— 14* 
*0i 73 73 73 —1 

25Dz 49 48b 48b — 9b 

8 15b 15b 15b 
175 21b 23b 23b— M 

112 144* 16b 16* — b 

25 13 1444 31b 31b 31b + b 
4.9 12 1445 2440 24b 2+b + b 
35 12 29 35b 35b 354* + 4* 

129 29b 2*4* 29b + b 
126 23 27b 23 

37 82 BW* 82 +1 

2 24b 26b 26b 
74 24V* 24b 34b 
5 20b 20 20b + b 

61 96b 954* 96b + 4* 
468 334* 33b 33b + b 
44 18b 18b IBb + b 
1511 42 4144 4ltb + M 

87 44b 44b 6«* 

23 1T0 109b 1094*— b 

33 1 02b 102b l CQb — b 

22 18b 17* IBb + b 

2107x 57 544* 56b + b 

92 5b 54* 5b 

44 33b 33b 33b 

. 27 27b 27b 27b — b 

1X0 3J 16 1501 32b 314* 32b + b 

20 1J 715 15b 15b 154* + b 

1.10 4.T 19 149 27b 27 27b + b 


1X4 4X 


3X 3 117 117 117 -5b 
467 14* lb 1b 

3® 20b 20b + b 

629 48b 47b 48 
13 29 28b 29 + 4k 

4 40b 40b 48b 
104 lllblllblllb— b 
310 25b 2Sb 25b— b 
32 24b 24 24b — b 

Ml 57 56H 57 + b 

7 2Sb 25 25b 

6 50 49b 50 + b 

99 20+ 20b 204k + b 
22 294* 29b 294*— b 

II 9 9 9 + b 

1 JO 3X 12 2530 52 504* 51b— b 

jn 4X 22 B7 22b 21b 2fb— 4* 

234* 16b AElPw 2X40 9A 9 400B 23b 23 23b + b 

47b 25 AmEXP 1X8 27 1610884 47b 45b 47b +1b 

22b 9U AFamll M 2X 14 — 

3Sb 19b AGnCp 1X0 10 10 
15b 6b A Cnl wt 
554* 51b AGfll o«A 4X4*1 U 
94b 584* AGnJ of B 5Jt7e 4X 
71b 40b AGllPfD 2X4 40 
1 0b 7b A Holst 
66+ 46b AHoma 2X0 4X 13 2576 43 42b 43 + b 

38 24b AH asp 1.12 3J 11 1791 33b 32b 33b + b 

92b 444* Amrtdl 4X0 72 9 575 91b 91b 91b + 4* 

87b 52 AlnCra M J 23 1057 82b OTk 82 + b 

28b 18b AMI 31 34 12 778 14b 24 24b + b 

5W 2b Am Mat • 645 3 2% 3 

29 16b APraod s .121 X 714 If m 19 

Ub 5 ASLFfa 4 94 74* 7b 7b + b 

IBb 12b ASLFIPfZ19H4 49 15 Mb 15 
16 10b A5MP H U 9 90 11b 11b lib + b 

35H Zb AmStd 1X0 5 A 10 1187 30 29b 29b— b 

65b 27 AmStor X4 14 11 830 64 43 44 +4* 

75b 44b ASIrpfA 08 57 103 744* 74 ' 

i 


NYSE Prices Stage Rebound 


Untied Press international 

NEW YORK — The stock market rebound- 
ed Friday after Thursday's plunge and managed 
to push Lhe Dow Jones industrial average above 
the psychologically important 1.300-mark. 

Lower interest rates in a buoyant U.S. bond 
market gave stock prices a boosL 

The Dow industrial average advanced 10.86 
to 1.300-96. For the week, the Dow fell 14.45. 

Advances outpaced declines 1,005 to 56S 
among the 2,014 issues traded. 

Volume thinned to 93.09 million shares 
a gains t 107.03 million Thursday. Stocks bene- 
fited from a technical recovery from Thursday’s 
drop and from bond markei strength, analysts 
said. 

“Rumors the Federal Reserve might cut the 
discount rate today (Friday) fueled the strength 
in the bond market,” Hildegard Zagorski of 
Prudential-Bache said. 

Before the market opened, the Federal Re- 
serve Board reported U.S. industrial production 
fell 0. 1 percent in May, a weaker outcome than 
expected, and the Labor Department said U.S. 
producer prices rose 02 percent May. 

The Commerce Department reported busi- 
ness inventories increased 0.4 percent in ApriL 

“The stock market is bouncing from an over- 
sold position,'' said Hugh Johnson of First 
Albany. 

In addition, the failure of the Fed to drain 
reserves from the banking system when federal 
funds were trading at a relatively low 716 per- 
cent encouraged speculation that the Fed might 
lower the discount rate, he said. 

The economic data means the possibility of a 
discount rale cut sometime between today and 


the end of the month is very strong," said Maria 
Ramirez, first vice president at Drexet Burnham 
Lambert. 

But she said the rally in the bond market 
motivated by economic weakness is not healthy 
for stocks except in the short term. “Unless the 
economy bounces back, corporate earnings and 
stock prices will suffer,” she said 

Halfway through the trading day, the Federal 
Reserve reported U.S, consumer credit expand 
ed by S8.27 billion in ApriL 

IBM was the most active NYSE-listed issue, 
up 2VS to 1207k 

Sperry followed off I to 55fe. Standard & 
Poor's Carp, placed Sperry Corp. on its ‘Cre- 
ditWatch' list with positive implications. 

Burroughs was third off I to 55’i. Standard 
& Poor's also put Burroughs on its ‘Crc- 
ditwatch* list but with negative implications. 
Burroughs and Sperry are discussing a merger. 

In other technology stocks, Data General 
added ’■‘i to 33K and DigiLal Equipment 17k to 
9314. 

Texas Instruments gained 2 to 94%. Hewlett 
Packard added & to 33ft. National Semicon- 
ductor edged up 14 to lift. 

TWA chopped ft to 19ft. It will be sold to 
Texas Air Corp. 

General Electric was op ft to 59ft in active 
trading. 

Capital Cities Communication, one of the 
session's biggest Losers, fell 2'/i to 105ft. It may 
be selling its cable television systems to the 
Washington Post Co. 

Among other media and entertainment 
stocks, Viacom gained 1ft to 47ft. MCA Inc. 
lost 1ft to57H. 


313 2IU 21 21 — w 

890 334* 33W 33W + M 

72 14M 14 14 

1AS4 54 534k 534* 

23 89 89 89 — W 

227 64U 661* 66 V* 

51 95* 94* 94*— M 


¥ 

ilA 


57V* 51 AilrpfB 640 117 
241* 15 AT&T 1X0 S.1 171 
401% 304k AT&T pf 3X4 &9 
4IJ4 311% AT&T M3J4 94 
274* 151% AWOtri 1J» 4.1 
I2V% 10 AWotpf 1X5 104 
19v» Am HoH 2X0 11.1 
S SVk ATrPr 5X4 8.1 
44* ATrSc 

40V* ATrUn 5X4 AX 
241% Ameron 1X0 4X 
221* AinesDi 30 X 
WVi 22 Vi A metric 
274* 181% Amtac 

3 41* Amtme 

501* Amoco 
38Vk 241% AMP 
24 114% Am pea 

281% 124% Ararm> a 
324i 194* AmSIli 
43K> 254* A mated 
4** 14* Anoemn 

241% lei* An loo a 
304* i9\* Anchor 
424* 25%. AnOoy ... 

121* 94k ArxlrGr 3D 

241* 17 AnoellC X0 
92 621% Alllmn 2JJ0 

31V* 204* Anhouwl 
65 471* Anheupf 3X0 

19%. 13V* Antxtr 3D 
164* 84* Anthem D* 

15V. 104* Anthny 
U 9 V. AfWClM . 

21* V* ApdiPwf 
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72 55V] AnPwpf &12 IIX 

33V> 27V* ApPwpf All 125 
301* 24 AnPw pf 3X0 125 
391* 174* AolDta 1XW 5,1 19 
15 8 AppIMa 




48 474% 474* 

241* 2344 241% + 3% 
27V. 27 27 

8 74* 7fk— Vk 

“ 594% 594* + U 
. 294* 304% +14% 
12V% 12 121% 

18V* 181* 111* 

27 324* 324* 324* + V* 
260 40 394* ms— Vs 

442 34k 31% 31* — V* 

131 191* 19 194* + 4% 

849 261* 254* 241* + 14 
321 39 381* 39 + V* 

34 114* 11V* lift— V4 
45 224* 224* 2246—16 
819 8946 8044 894* +1 
33 30 294% 291* — V* 

129 621* 62V6 42*6 + 16 
198 15 144* 144k 

213 1116 104* 11)6 +4% 
U 121% 1246 124k + V* 
95 10ffi« 101* 101*— 1% 
11 Uk IV* 146 

236 19 IBfk 19 +V* 

Alto 72 71 72 +2 

10 334* 33 33**— V* 

1 30V* 304% 3®* + 16 
61 3416 33V* 3416 + 4* 

30 124k 124* 124% 

234* 154* Arcfl Oh .HU X 15 1200 22V* 221* 22* + 1% 




304k 23V* ArIPpf 358 120 

107 79 ArIPpf 10X0 105 

234* 14 Aril Bit XO 15 I 

241* 16 Ark la 101 5 X 19 

*V >6 ArlrtRf 
124. iiv% Armada 
16V* 6%> Armco 
254* 15V* Arracof 2.10 HU 

3«ik 16V* ArmsRb XO 2.9 7 

38 23V, ArmWIn UO 35427 

34V* 19 AraCa \£8 +1 7 

251- 129% ArewE X0 15 9 

29 14 Artra 33 1 285 

234* V4V] Arvln B 81 11 I 

H 1 * 35>« Arvln pi 200 30 
27V* 174* A larca 
334. 304. AstUOII 1X0 50 
4446 334k AshIO pi 450 105 
42'v 31 la AshIO Pf 3.94 95 
49 401* Aid DC- 2X0 40 10 

UO 77V* AMD pf 4X5 45 
2446 1B4* Athlon* 1x0 
294. 204* AtCvEI 258 
44' - 404k All RMh 400 
384. 32V* AIIRC Pf 3.75 
153 97 AflRcpf 2X0 

11V* 114. AtlaaCD 
32V* 184. AlfOOt XO 
49 374. AlIfoDt AS 

5 4V. AvoMnn 

291k 1S1* AVEMC X0 
394* 741* Avwrv XO 
154* IQ A vial I n 
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30%. 17t* A yd In 11 94 10V6 179* 101% 


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914 20V6 199* 30 

23 4* 1* 

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640 0V% 0V% SV% + 9* 

52 20V* 191% 20V* + »* 

139 1«* 1626 1646— 1% 

350 37%. 371% 379% + V% 

19 29V* 29 29V. 

91 1346 1316 13V* 

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171 224* 23 22V. — V6 

3 53 53 S3 +1% 

420 2316 224* 224%— 96 

123 3246 32 32V%— 1% 

13 43 43 43 

27 414* 4116 411% + 16 

750 44 45V* 4546 

228 104 10816 10516 — 96 

24 21V* 214* 214* 

538X 284* 284k 281* — 9* 

5440 584* 50 5894 + 9* 

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7 9 134* 13V* 13V* 

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4.9 27 
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219* 15 Bkrinil 

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2V* 4k vl Baidu 


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27 194* BVTrri 250 

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13 7V* Banner JOe 


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25’* 171* BavFIn 00 

34'm 221k BavStG 2X0 

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33 irt bhio 1X0 

441* Beafpf 3J8 

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53Tb 30%. BecfnD 1X0 

89k 4 Eofear 

11 79* Beker pf 1X0 2X3 

34r. 22V* BelHwl J4 IX 


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33 22** BCE a 2X0 

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57 4lv* BeMAH X0 
30 219* Bemis 100 

45V* 24 BenfCn 200 
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1959*110%. Bonefpf 550 2.7 


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347 14* TV* IV* 

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443 45V% 44V* 45 + V* 

792 3394 3246 33V* + 9* 

244 3V* 3V6 39*— V% 

55 504* 504* 509% + ft 

147 5096 499* 309* + 96 

121 439* 4396 439* + V* 

177 289% SR* 389*— 96 

7655 19V* 1016 181%— 4% 

88 4146 4(Wi 411* + V6 

20 47V* 67V* 47V* + V* 

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371 71V. 70 71V* + V* 

3 27 249* 27 + V* 

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33 1216 1196 1296 + 1A 

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94 2246 2296 224* + 1% 

308 3896 38V* 314k + 16 

397 1096 17 17V*— 4* 

272 13%. 12V* 121* 

309 3116 3046 31 

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24'. l*9k BethSlPf250 120 

23V* Beverly ja .9 19 


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4X II 1712 45 4396 45 +1V* 

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3301201 1*71*201 +096 


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33'* 31%. OIckMP 
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117 44* 446 44* 

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61 46 BoltaCnfSXO B5 1 S9 59 59 + 1% 

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40 28 Borden* 152 19 IT 12JV 39V* 3816 3846 + V* 

28*1 16'* Borawa .92 40 10 1710 2JVk 224* 23 + 9* 

89* 4'6 Barm n* 384 81% 716 716 + 4% 

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81 53 BosEni 808 1U 370x 83 80 111* + V* 


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29 219* BrllPI 

2196 91% BrflTpp 
59* 19* Brock 

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409% 28 BkvUG X12 70 8 

34V* 29 BhUGpt X95 10X 

244* 13 BwnSh X0 10 9 

29W 2296 BrwnGp 104 4 X 19 

5016 241% BrwnP 100 2X 

4096 77 Bnwek 100 23 

409* 2796 BrahWl 02 * IX 

194* 139* Bundy 00 AS 

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5096 35 Brl Nth 1X0 25 


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44V* 4896 Burrah 
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11V* 09k CNAI UOalOX 
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279k 189* CSX — 

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3394 224* Cabot 

239* 111* CriFM AS 
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159k 996 CdPacs XO 

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274* 15V% COPHdS 31 
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2*96 159k CnraPt X0 
299% 1916 CorPw 250 
259% 194* CnrPpf Z47 
48 359% CofTec 110 

111% 79k Const 07 
489* 33)% CoraPIr 1X0 
309* 1846 CnrtHw 1X3 
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181% 94* CoacfiC 1X0 
149* 91% CnstlCk 
29 1596 CifICpf 

409* 289k CotrpT 50 

2796 16 COCO 36 

1151% 4246 Crianae 4X0 
4416 34 Colon pf 450 _ 

15 71% Genov n 2De X 29 

43V% 331% Cental 238 55 W 

269* 17 Centex n II 

25V* 1716 CanSoW 102 70 8 

209* 179* CenHud 254 M.1 6 

241% 20W CHudpf 107*110 

44 34 CnlLfpt 450 WX 

20V. 144k CnllPS 1 M 80 18 

27V* 179* CnLoEl 208 7X 7 

35Vk 299* CLaElpf A1B 115 
119* 896 CBMPW 1X0 110 6 

1916 13 CVtPS 100 100 * 
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249* 1«|% CessAIr 
2496 169* Oimpln . 

2796 IV aitnlpf 1X0 47 
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10 I atoms*. X0 45 13 

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7016 60V% Chase pt 750 10J 
4BVk 3446 OtaMPl 5X3 11.1 
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57»k 51 Chase pflZ40e235 

2196 1516 Chelsea X2 35 8 

3416 244% Chanted 152 SX 13 


1X0O 40 11 40 239% 231% 234% + t% 

300 25 20 12631189*117)6 118)%— 9% 
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1404 54<A SV. 559k + 9k 


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3896 311% CTwaPn 200 

379* 2916 Chevrn 2X0 

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80V. 53Vk ChlMIPf 


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124 281% 2796 21 + 1% 

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10 20 1946 90 + V. 

172 30 291m 2«t— 46 


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54 2*4* ChrtaCr 

487 215 ChCftpf 

13V* 5 Chrtatn 

13*k 94% Chroma _ 175 

381% 23 OirvBlr 100 30 3 

741% 344k Chubb 1 2X0 3.1 16 

42V* 5046 Chubb pf 4X5 70 

2016 1246 Church* 44 U U 

24 v% 19 aiaora 2X2 bx 9 

4996 35Vk an Bril "" 

17 99% CtnCE 

38 2*1% OnGpf 

71 Vk 50 CMC Pf 
57 39 ClnCRf 

71 V% 48 ClfiGpt 
7296 50 QnG of 
27 20 anMJI 

37 23V% arclK 

31 1*96 araty 

28 V. 1416 arCUS 
50 2796 Clllcro _ 

81 481% ones Pf 7X2e 90 

43V* 339* Otylftv 700c 

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2216 1496 CMvEI — . .. 

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43 47 dvElpf 704 12X 

1*1* ID ClOYnk XO S3 

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19 1496 Clvpk pt 104 IIX _ 

389% 23Vk CMnn 10* 3X 13 

25 1496 dUUMn .I80 X 21 

339* 24 CluettP 100 10 13 

211% 14 ClUriPf 100 40 

2116 12V6 Caachm XO 10 14 

5516 231% Coastal X0 0 12 

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lVM. 94* Coleca 
34 2516 CaUmwi 1X0 30 19 


4 10S4 401k 29V% 39* — Vk 
311 524k 529k 329k— 1% 

9 57 35V* 3416 3416— 1% 

50 10 1964 3416 314k 3416 + 1% 

40 8 2542 3496 361% 3fl* + 4* 

47 224 1096 10)% 1016—4* 
44 41 1381% 130 120)% + 16 

4J 4216 43 + » 


4S 269k 2596 Jffle + 96 

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2 401 401 401 —4 

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M0 34 359% 34 + Vk 

345k 71 Ml 701% 709*— 1% 

10 401% 6096 MVS— 1% 

499 179* 171% 179* + V% 

137 25VS 25V* 25V*— V6 

111 U 1 27 401* 4*1* 4896 

2-W 12-4 7 254* 179* 16%t T79k + V% 

4X5 1ZX lOQz 39 39 J9 +1 

9-30 111 lOOta 7116 71 71 16 + 44 

7X4 112 Tta 5*9* 569* 569*— 9* 

9X8 111 580l 71 71 71 +1 

902 IIX 3401 71 Vk 71 FT — Ik 

X2 3L6 23 770 204* 20 20 — Vk 

X4 JLB 15 200 36VS 357k 36Vk +11% 

0B X 13 26B 2596 25VS 351%— 16 

IS 97 279* 2*1% 271% + 1% 
136 43 7 5128 47* 4716 474* + V) 

3 7B<% 781% 7S1%— >6 
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314 281* 2796 289* +1 

13 114* llVk Tl Vk — 16 
137 19Vk 1896 19)% + 96 

8*3 21* 211% 214* 

into *2 42 *3 +1 

880* 43 42 43 + V% 

31 119* 119* 119* + * 

5 17V* 171% 171% — 16 
45 15)6 1596 1596 + 16 
241 37 3694 37 + 4% 

44 244* 34Vk 2A%— 16 
333 32* X3I6 33* + 9* 

4 2096 2096 2096 + 16 

187 139* 13* 13* + * 

*75 50 49* 50 + 1% 

988 49 4896 49 

2027 14* 1616 16* + )6 

137 31* 31* 311% 


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2396 141% GolAih k X4 33 7 942 19* 19* 19* + * 

23 1196 CalPdsa .14 X 16 58 21* 21* 21*— 16 

319* 241% Cd Pen 1X0 40 9 2581x28 27* 37* + V) 

43Vk 39* Coltlnd 2.50 S3 10 756 40* 591% 40* + Vk 

35 24* CoKJas 3.18 100 — — ‘ “ 

S3 45* CalGspf 456*130 
M»* 96 CSOplolSXS VAX 
I08V6 97 CSQpfpISXS 143 
49* 2716 ComOln 2.16 40 9 

37* 2596 CmbEn 104 5X 11 

■ ■ ~ IX 10 

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20 15* ComMIt 

33* 896 CMitdre 
31* 22* CfflwE 
1796 13 CwE pf 
18* I3V6 CwE pi 
24 189* CwE Of 

24* 20* CwE Pi 
74* 54* CwC pf 
44 44 CwE pf 

279* 17* ComES 


424 3196 31)6 3196 + 16 
203 46* 46 4616 — * 

4091071% 106* 104* —1* 
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209 47* 47* 47*—* 
434 32* 32* 32* * * 
317 1416 1396 1416 + 16 
25 14* 14)6 149% + * 
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7 3084 30* X* 3096 + * 

33 17* 17* 17*— V* 

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3 26 24 24 

29 2416 25* 24V6 + * 

1400x 72* 72 72 —I* 

431b 4396 42 4396 +1* 

4 97 27* 279* 27* + * 


12 Month 

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Stock 


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Although firo-year^ ^^wefcpmfini 
plans are not new to Egjpt, having 
been introducedroofe than twojdfr- 
cades ago, the conent plan is dis- 
tinguisihed by its direct nnpact, en- 
hanced by dose momtonng and 
regular fo&ow-up. 

The minister of planning, tfanwl 
d-Ganzotni, asserted Ins satisfac- 
tion with the economy’s perfor- 
mance in line with the plan, which 
he described as “bpriecixver . for 
trends associated with rapid expan- 
sion. The first year of the plan 
coincided with the start of down- 
ward pressure on the economy 
brought about by a fall in govern- 
ment revenues. The growth rate of 
gross domestic product dropped 
from a record ^percent before 1981 . 
to 7.6 percent last year and an ex- 
pected 7.4 percent this year. 

Mr. Ganzouri 'beheves that the 
first challenge to the reafizatkm of 
the plan’s gods is the rate of popu- 
lation growth, which remains one 
of the highest in the world at 17 
percent annually. Another is the 
appetite for consumption, w&ch be 
regards as incompatible with pre- 
sent economic conditions. The 
third challenge is : that cttiafe sec- ' 
tors of the econm&y have proven 
more capable of meeting their ob- 
jectives than others. 

The new fiscal year is a. turning 
point in directing Egypt’s economy 
toward import substitution and ex.- 

Eave P witnessed movement irTthe 
direction of impest substitution, 
with increases in agricultural pro- 
duction permitting Egypt to sub- 
stantially reduce imposts of eggs, 
beans, sugar and other items. 

Rising industrial production has 
put an end to imports of fertilizer 
and has cutcement imports in half, 
also sharply reducing purchases 
abroad erf consumer promicts sudi 
as cigarettes and electrical appli- 
ances. These results, have , been 
achieved with the private sector 
contributing a quarter of new in- 
vestments, exceeding its targeted 
growth. 

The completion of a number of 
major projects has helped raise the . 

(Continued on Page 12) . 


EGYPT 


A SPECIAL REPORT 

SATUBDAY-SUNDAY, JUNE 15-16, 1985 


Page 9 


By Qihi Tohuny • 

CAIRO ,-r The Egyptian econo- 
my is pasang fhrotigha transitional 
period during which, xis structure is 
being reshaped and its relations 
with the rest of the wodd are being 
redefined as economists hope for a 
new stage of sustained and bal- 
anced growth! • 

This new phase; starting with the 
beginning of the fiscal year in July, 
was forecast by. the 1^2-1987 so- 
da] and economic devdemment 
plan, laying the groundwork for 

plarTanSPr^. mcregartfly rnfin en- ' 
tial role exercised by. the Ministry 
of Hanning riuwarfeiwy. a new - 
style of 'managing the economy 
brought in by President Hdsni Mur 




*m Ji' 

1 

W r 

.£■&< 




Mubarak Scores Points 
For Foreign Policy, but 
Economic Woes Remain 


. MU ■ ■ ■— I 


IT T 

• ” "• iv. 




Fhoioaropta bf M tyM 


The Nile 
AiCdiro 




WSmw? .yH-afcx? : 

m 


River boatmen, above (eft, 
and new office buikfijigs 
frontu^theriwE, above 
rig^iL At right, Cairo 
women wa«di dotii£s in the 
NOe. 


« #ii~ -a - 

:SII 


W Wk 

"**t' ■’* ’'V 

s - > ° ; 


By Julian Nun dy 

CAIRO— Egypt has edged clos- 
er to center stage m the Arab world 
this year, but It has stiD managed to 
improve its cool relations with Isra- 
cL 

As President Hosrd Mubarak ap- 
proaches his fourth auniversaiy m 
power since he took over after the 
assassination of Anwar Sadat on 
Ocl 6, 1981 < hehas,mthewordsof 
one Western diplomat, “become 
his own man; be is no longer seen 
as Sadat’s vice president” 

While the pressing domestic 
problems of modem Egypt show 
no signs of disappearing, President 
Mubarak’s successes in foreign af- 
fairs have increased his stature as 
leader. 

For the most part, the impetus 
for improvement came from out- 
side — when Jordan unilaterally 
decided to restore ties after a fi- 
ve-year break last September and 
with the change of government in 
Israel 

But, in the view of analysts in 
Cairo, Egypt has been careful to 
take full advantage of the opportu- 


Arms Exports Earn $2 Billion a Year 


CAIRO — The Kahira AH-300, 
a sleek delta- winged fighter, is now 
a museum piece. like many costly 
anus projects of die 1960s, it was 
scrapped by pofitidans. 

But for the makers of die Mach-2 
plane, the blow was especially 
har d J| had hem designed and 
built in Egypt, a symbol of a capac- 
ity to meet the anoed forces’ most 
sophisticated needs with home- 
-grown talent, albeit with a team 
headed by the German World War 
II designer, Willi Messcndnmtt. 

depenJeoUm outside suppliers for 
its weaponry. The last of three Ra- 
ima prototypes — the only one to 
have an alHqgyptian engine — flew 
in 1969 when the Egyptian Air 
Farce ordered more MiGs from 
Moscow. 

Three years later. President An- 
wir Sadat expelled the Russians, 
and the supply of MiGs dried up. 

Aware since then of die dangers 
of relying on one country for arms, 
Cairo has diversified its purchases, 
buying mainly from the United 
States, France and Britain. But it 
also has turned its attention to 
building up its own aims industry 
and turned it into a major foreign- 
- cmreu cy earner. 

Western miEtaiy experts pm the 


current value of export sales of 
Egypt’s aims industry at about S2 
billion armnaUy, double the value 
of 1982sales. 

Much rtf this income cranes from 
sales, particularly am mu ni tion - 
replacement pans, to Iraq for its 
wafimainsf Iran; which is now' ap- 
proaching its fifth year. Nigeria is 
another big purchaser. 

But it is difficult to calailate 
profit in real terms against the in- 
vestment made because of the se- 
crecy surrounding Egypt’s military 
spending. 

Egypt’s azms industry is under 
the Military Production Industries 
and the Arab Organization for In- 
dustrialriatioc, which was setup in 
1975 in cooperation with Sandi 
Arabia, Qatar and the United Arab 
Emirates. The three Gulf countries 
pulled out four years later Mien 
Egypt signed its peace treaty with 
Israel 

Despite the. withdrawal of these 
rich associates, Egypt pressed 
ahead, true to a poliiy first promot- 
ed by the late GamafAbda Nasser 
to manufacture everything “from 
the needle to the rocket,” and its 
success has exceeded maty expec- 
tations. 

Ibe most prestigious program so 
far has been the assembly at the 


Hdwan Aircraft Co. factory, just 
south of Cairo, of the French-West 
German Alpha jet, a trainer and 
. ground attac k plane purchased to 
replace the aging MiG-17. 

Alpha assembly was started in 
November 1982 with a target of 45 
for the Egyptian Air Force; which 
is now almost complete. Some of 
the tods and jigs on the assembly 
line were locally produced and the 
factory made some moving control 
surfaces from scratch, which were 
then sent to Breguet-Dassault in 
France for installation on planes 
buflt in Europe. 

Initially, some other Arab coun- 
tries came to watch the Egyptun- 
- assembled Alpha being put 
through its paces, raising Egyptian 
hopes that Dassault and Dernier, 
die West Goman Alpha partner, 
would commission the Helwan fac- 
tory to produce more of the planes 
as a subcontractor for the regional 
market. But those hopes were never 
fulfilled. The Alpha assembly line 
would, it was hoped, give Egypt a 
high-technology base for its air- 
craft industry. But Western mili- 
tary experts question whether 
Egypt is not being too ambitious in 
aiining far the top end of the indus- 
try. 

One senior Egyptian defense of- 


ficial is on record as saymg that 
Egypt does “not want to assemble 
weapons from kits; we want lo pro- 
duce than here' where we have 

(Co ntinu ed on Next Page) 


nities offered. It has played an im- 
portant backstage role in promot- 
ing new Jordanian peace efforts 
and dampened earlier criticism of 
policies in south Lebanon as 
lsacl began to withdraw from the 
area. 

On the domestic front, parlia- 
mentary elections in May of last 
year also helped to improve Mr. 
Mubarak's standing, they said. 

While all the opposition parties 
the government of rigging 
the rffletirms anal ysts agreed that 
they were the freest ever seen in 
modern Egypt The ruling National 
Democratic Party wan a resound- 
ing victory with the new Wafd Par- 
ty becoming the only parliamenta- 
ry opposition with 57 of the 
Peoples Assembly’s 448 seats. 


“This has. nevertheless, created a 
vocal opposition, and Mr. Mu- 
barak seems prepared to tolerate 
this; it has put his mark on Egyp- 
tian policies,” one diplomat said. 

Otherwise, Egypt's main prob- 
lem — its rapidly increasing popu- 
lation — remains insoluble and 
could bring severe difficulties in 
the long term. 

The current population is esti- 
mated at 48 milli on and is growing 
by 17 percent annually, or ] mil- 
lion new citizens every 10 months. 
Half the population is under 20 and 
only 10 percent of the land , mainly 
along the Nile Valley, is considered 
habitable. 

The government has set up a 
National Population Council to ad- 

With ties restored, Mubarak 
and King Hussein lead new Arab 
moderates. Page 10. 

dress the issue as Mr. Mubarak 
warned of “terrible famine, unem- 
ployment and terrorism” if popula- 
tion growth were not checked. 

On the economic front, experts 
predict a balance of payments deft- 
at in the current financial year. 
The balance was in surplus 
throughout the second half of the 
1970s and into the 1980s. 

Western economists say that 
many of the dements that enabled 
Egypt to stay b the black were only 
temporary and that nothing is cm 
the horizon to take thar place. 

They include remittances from 
Egyptian workers abroad, allowed 
to travel freely for the first time 
after the 1973 Middle East war, 
and income from the Sinai oil fields 
that Israel returned to Egypt Both 
these sources of income appear lo 
have peaked, the economists said. 

One policy viewed as playing a 


icy view 

large role in Egypt’s problonsis the 


lack of import controls under wfi- 
tah . or open-door policy of trade 
liberalization sponsored by Mr. Sa- 
dat to promote a free- market econ- 
omy. “The open door has become 
like a saloon door, swinging back 
and forth," one economist said. 

Another is the government’s per- 
sistence in subsidizing food, energy 
and clothing. These measures, de- 
signed to help the poor, also benefit 
the wealthy since reduced prices 
are available to all The Interna- 
tional Monetary Fund has repeat- 
edly asked Egypt to scrap the subsi- 
dy system. 

But Mr. Mubarak wins high 
praise from Western economists 
for the interest he has taken in the 
economy since he took power. “He 
has made it a priority, whereas Sa- 
dat didn’t seem lo care,” one said. 

Another major priority of the 
Mubarak yean has been to keep a 
careful watch on internal security 
after Mr. Sadat's death ar the hands 
of Moslem extremists. 

Mr. Mubarak appears to have 
maintained control over the inter- 
nal situation while taking care not 
to exacerbate tensions. 

Trials of Moslem extremists 
rounded up after the assassination 
have been far from vindictive dis- 
plays of revenge, with many defen- 
dants acquittal or getting only 
light sentences. 

Jbe Egyptian judiciary has won 
praise from Amnesty International 
for its independence. One tribunal 
ordered an inquiry into allegations 
of torture at the hands of police 
interrogators made by prisoners. 

A reminder of Mr. Mubarak's 
security worries came in May when 
a group of demonstrators dashed 
with police outside a Cairo syna- 
gogue. They believed that Israeli 
negotiators attending talks in 

(Continued on Next Page) .' 


RANQUEMISR 


Founded in 1920 



The Blooming Desert 
Stitt in Dream Phase 


; -v By Anne Ghamock : 
CAIRO — Hard work has 
brought few rewards -for fanners 
trying to make the desert btodm.in 

V South Tahrir- These pioneers, 
. stirred by the national dream of 
’1 colonizing Egypt’s vast arid lands . 
A are stitiggling to malre a profit from 
*> their small 10- or 20-aoe (4-or-8- 
„» hectare) plots, bought from the old 
1 state farms set op m Gamal Abdd 
k- Nasser’s day. 

; They receive little guidance oq 
what crop to grew or now ;tb ini- 
"i . gate this unfamiliar territcsy. And 
as a result of daSy electricity fail- 
ures, water carnwl be pompediroin 
i the main canals for hours al a time. 
< So farmers must watch their crops 
>; die in the Grids. • 

■Y Desert reclamation s u top-pri- 

V oritygovenHnentpqScy because of 
jijk the country’s rapid, population 
I ; 1 growth and the consequent loss of 
; . prime agricultural land to urban 
■ *. sprawl along the Nik Valley and 

Delta. At first glance, desert farm- 
/ jng would appear tobethe domain 


of- larg: 'private- companies. The 
Salhiya firm run by Arab oontrao- 
tras, westioT Ismaiha, is regarded as 
a ahowf&ce^ protect in so-called 
“new l a nds ! ," It demonstrates that 
large-scale desert farmin g is teefc- 

nokgica&r viable with itsdrcular 
green firips watered by sophisticat- 
ed ceatts-pivot irrigation sprin- 

. Eowott, small-scale -farming, 
acrartMl to the Desert Devdop- 
m e m Cctiter of die American Uni- 
ymrity firCairo; should not be dis- 
nnssed fecaase of its poor- record! 
On a- research and demonstration 
farm injSooih Tahrir, . the center’s 
mhl ti d to tinuBy team is showing 
that sfflfll farms can make & re- 
spectahk profit. And according to 
the cesers farm tnan»gw, Denis 
. Bowa^on . ihe whole; a small 
' fannerlias a bigger chance of sut> 
cess because the large companies 
don't have the management exper- 
tise cardie dedication." 

Th&tenter is fifling rome of the 
(f fotia oedcnPige 11) 




THE PIONEER BANK IN EGYPT 


300 Branches in Egypt 
52 Affiliated Companies 
3 Joint Venture Banks 


AND NOW IN OPERATION 

BANQUE MISR PARIS 

10, Rue Auber, 75009 Paris 
Tel: 266.90.66 Telex: 213020BANSR 


Ffattvapla bjr BJ Ljon 


Farm workers af Kaba village, above, near Cairo. BeJow, a 
worker tends chicks at a poultry farm in the village. 


BANQUE MISR 

Head Office, 151 Mohamed St. Cairo 
Telex: 92242 UN, 92553 UN, 92325 UN. 





Page 10 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SL^DAY, JUNE 15-16, 1985 


BANQUE DU CAIRE (S.A.E.) 

EGYPT 



One of Egypt's leading commercial banks and one of the largest too 

Our most valuable assets Experience, Flexibility & Efficiency 

Make Banque Du Cairo your first port of call 

Financial Statement as at 30th June, 1984 

In thousands of pounds 


<c 




LIABILITIES 

Capital, Reserves & Provisions 
Deposits & Current Accounts 
Banks & Correspondents 
Sundry Credit Balances 

Contra Accounts 
ASSETS 

Cash in Hand & Balances 
with Banks & Correspondents 
Total Investments 
Total Advances & Loans 
Sundry Debit Balances 

Contra Accounts 
Net Profit 

Joint Ventures: 

Banque Do Caire Barclays International Bank/Egypt 
Banque du Caire et de Paris/Egypt 
Cairo Far East Bank/Egypt 
Saudi Cairo Bank/Saudi Arabia 
Cairo Amman Bank/Jordan 
and participating in the following banks: 

Suez Canal Bank/Egypt 
Housing A Development Bank/Egypt 
Egyptian Golf Bank/Egypt 
National Bank for Development/Egypt 
Egypt Arab African Bank/Egypt 
Pyramids Bank/Cairo 
Export Development Bank of Egypt/Cairo 
Participating in 31 other companies in various activities: 

106 Branches A Offices in Egypt 
4 Branches in the UA.E. & One in Bahrain 
HEAD OFFICE: 

22 Adly Street, P.O. Box 1495 - Cairo- Egypt 
Telephone: 762545 - 749669 - 745574 
Telex: 92022 - 92838 - 23438 BNKHR - UN (Cable: BANKAHER) 


E.P. 

376,899 

2,783,761 

271,134 

249,441 

3,681,235 

1,610,645 

E.P. 

1,721,883 

188,197 

1,685,247 

85,908 

3,681,235 

uftoofe 

43.387 


rfes 


JU-H 


JL 




THE NILE BANK 


In Egypt where the Nile River is the source of life you will find the Nile Bank to help and 
advise you whenever you do business. The Nile Bank offers you all perfect banking services. 
•Authorised Capital: US$40,000,000 fully subscribed by Egyptian individuals (paid up 
$30,000,000). 

•The bank deals in foreign currencies as well as Egyptian Pounds. 


BALANCE SHEET AS AT DECEMBER 31, 1984 
(icr Million Dollars) 

1983 


Total Assets and Total Liabilities 

Assets 

Cash and Deposit with Banks 

Loans and Advances 

Investment at cost 

Bank Premises at cost 

Liabilities 

Deposits and Current accounts for Clients. 

Deposits and Accounts due to Banks 

Total Shareholders equity 


1984 

($1=0.83 LE) 

295.4 


274.5 

162.6 

88.8 

3.2 

7.6 

1513 

67.2 

35.1 


PROFIT AND LOSS ACCOUNT FOR THE YEAR 
ENDED ON DECEMBER 31, 1984 
(in Million Dollars) 


1553 

111.7 

4.9 

10.4 

173.2 

58.2 

38.8 


1984 


Total Income 

Total Expenses 

Total Profit for distribution 


1983 
($1=0.83 LE) 
25,- 27.7 

16.9 20.4 

8.1 7,3 


Head Office: 

Telephone: 

Telex: 

Cable: 

P.O. Box: 

Heliopolis Branch: 20 Ibrahim St. 

Telephone: 580859 — 581598 — 582241 
Telex: 22967 

El Hegaz Branch: 19 El Hagaz St. 

Telephone: 867094 

Maadi Branch: 87 St. 9 Mahata Sq. 

Telephone: 505480—505740—505940— 

505390 

Giza Branch: 32(A) Morad St. EL-GIZA 
Telephone: 723350 —723470 

Shobra Branch: 94(A) Shobra St. Road El Farag Sq. 
Telephone: 648837 — 648749 

El Mohandesin Islamic Branch: Arab League St. 
(Zamalek Sporting Club) 

Telephone: 809492 — 815533 
P.O. Box: 142 El Mohandesin 

BRANCHES UNDER ESTABLISHMENT: 

Aswan — Za ga zi g — Menia — Suez — MahalaEI 
Kobra — Port Said — Asiout — Second Branch 
in Alexandria 


35 Ramses St., Cairo, (Abdel Moneim Riyad Sq.) 
741417 _ 751 105 — 753947 — 749187 — 743502 
93368 — 20785 — 22344 BANIL UN 
NILBANGYPT 
2741 Cairo 


Offices: Cairo International Airport 
Alex Branch: 8 Chaxnpolion St. El Azarita 
Telephone: 2702 2 — 964189 — 25886 
Telex: 54485 NILBK 
Cable: NILBALEX 

Alex Office: Maritim Port Free Zone (EL 
AMERIA) 

El Mansonra Branch: 21 1 El Gomhoria SL 
Telephone: 328522 — 321108 
Souhag Branch: 33 El Gomhoria St. 

Telephone: 24243 

Damletta Branch: El Louzy Str., El Zayat 
Budding 

Telephone: 4515 

NEW BRANCHES: He! wan Branch: 

15 May City 

Tanta Islamic Branch: 34 El Gelsh Str. 
Telephone: 28608 — 28610 

SAFE BOXES AVAILABLE AT: 

Head Office — Cairo — Alexandria — Heliopolis 
— Giza — Mansoura — Islamic Branch 


A SPECIAL REPORT ON EGYPT 


Mubarak, Hussein 
Take Lead in New 
Bloc of Moderates 


CAIRO — Jordan's resumption 
of diplomatic ties with Eavpt has 
led to the de facto creational a new 
moderate bloc in the Arab world 
that seeks peace with Israel and 
opposes Islamic extremism, ac- 
cording (o Arab and foreign ana- 
lysts. 

While President Hosni Mubarak 
of Egypt and King Hussein of Jor- 
dan are known for their pro- Wes- 
tern attitudes, diplomats consider 
that the new moderate group that 
they lead includes two unexpected 
converts — Yasser Arafat's Pales- 
tine Lib eration Organization and 
President Saddam Hussein of Iraq. 

One important factor uniting 
them is enmity toward Syria, the 
Soviet Union’s' main ally in the re- 
gion. 

The Ba'ath nationalist rulers of 
Syria and Iraq have long been at 
odds, although they were both con- 
sidered radical in the 1970s. Their 
rivahy has intensified because of 
Syrian support for Iran in the war 
with Iraq. 

Two of Iraq’s staunchest allies 
since the Gulf war began in Sep- 
tember, 1980. have been Jordan, 
wlndi has acted as conduit lor 
many supplies needed for the war 
effort, and Egypt, which still does 
not have full ties with Baghdad. 

Last September, King Hussein 
unilaterally decided to restore fuQ 
ties with Egypt Like most other 
Arab heads of state, he had cut 
them off after the late Anwar Sadat 
signed the peace ireatv with Israel 
in 1979. 

While Iraq has not restored 
links. President Mubarak visited 
Baghdad with King Hussein in 
March and Egypt has been one of 
Iraq’s main aims suppliers. 

Ironically, it was in Baghdad 
that Arab leaders met to condemn 
Egypt and decide ona boycott after 
Mr. Sadat began bis ovoinres to 


Israel in 1977. Mr. Arafat was one 
of the participants. 

Many Arab leaders are fearful of 
Islamic extremism gaining a bold in 
the region and are anxious that 
Saddam Hussein should not lose 
Iraq’s war with Iran’s Ayatollah 
- RunoQah Khomeini. 

At the same time, Iraq has been 
willing to soften its former radical 
principles is response to support 
from Egypt and Jordan. It has fol- 
lowed its allies’ advice to deal with 
Washington, allowing the reopen- 
ing of the U5. Embassy last year. 
Baghdad had dosed the miwi>n< 
after the 1967 Middle East war. 

Mr. Arafat drew closer to both 
Jordan and Egypt after his forces 
were defeated near the Lebanese 
port of Tripoli in December 1983 
by Syrian-backed PLO rebels. 

After leaving Tripoli by ship, 
Mr. Arafat stopped in Egypt for 
talks, ending his own boycott of 
Cairo. 

Later, he renewed suspended 
talks with King Hussein to find a 
common negotiating postion to 
give a boost to efforts for a peaceful 
settlement of the Arab-Isradi con- 
ilia and the eventual creation of a 
Palestinian state: 

The Jordaman-PLO talks result- 
ed in an accord last Feb . II provid- 
ing for a joint Jordanian-Palestin- 
ian delegation to any p^ ace 

lallre 

Diplomats in Cairo say that 
President Mubarak, buoyed by Jor- 
dan’s recognition of ms govern- 
ment, was instrumental in persuad- 
ing King Hussein and Mr. Arafat 
to find common ground. 

Egypt, until its rapprochement 
with Israel, was the undisputed 
leader of the Arab world. 

Since then, Cairo has always 

maintained that when the condi- 
tions were right for other Arabs to 



King Hussein, left, and President Mubarak at the start of 
their talks at the Red Sea resort of Hurghada, 


negotiate peace with Israel it would 
be ideally placed to art as a go- 
- between. 

For the moment, Mr. Mubarak 
has limited himself to acting as an 
intermediary between King Hus- 
sein and the United States. 

Last year. King Hussein said 
that the United States had tost its 
credibility as a mediator in the 
Middle East because of its “onc- 
~sded” support for Israel, spoiling 
already uneasy lies with Washing- 
ton. 

Mr. Mubarak has retained good 
relations with Washington since be 
became president after Mr. Sadat's 
assassination in 19S1. Recently. be 
set out to convince the Jordanian 
monarch and the PLO leader that 
dealing with Washington was an 
essential first step to get a new 
peace process under way. 

Western diplomats sard that Mr. 
Mubarak showed signs, however, 
of wanting to recover a leading 
role. 

He promoted the Jordanian- 


•PLO accord during a visit to 
Washington in March. but also, 
wanted direct involvement in ady 
ensuing negotiations, the diplo- 
mats said. 

They added that this scenario 
did not please the Jordanians, -r # 

"He wanted Egyptian involve- f 
meat, which upset Hussein, who 
thought Mubarak was pushing too 
far,*’ one of them said. “Since that, 
the Egyptians have taken a bad: 
seat They have realized that there 
is nothing active that they can do. 
They are just rushing abort (effing . 
people that the Jonfanian-PLO ac- 
cord is important." 

Egyptian officials have since be- 
come extremely cautious in their 
discussion of Kang Hussein’s poke 
moves. But observers say that 
Egypt has put many of its hopes for 
a full reintegration into the Arab 
fold — and presumably for a re- 
newed leadership role —in iheJor- 
danian-PLO stance. df 

— JULIAN NUNDY 




Foreign Success Amid Economic Woes 


(Continued From Previou s Page) 

Egypt planned to attend a service 
there. 

But analysts seem to view that 
incident as an isolated event, al- 
though they do not underestimate 

the potential for trouble that Mos- 
lem f undam en talism may bring. 

On the popularity rale^ Mr. 
Mubarak has had his ups and 
downs since becoming president 
After the hectic Sadat years, 
brought to an abrupt end just after 
Mr. Sadat jailed a number of politi- 
cal opponents, many Egyp tians ap- 


preciated Mr. Mubarak’s calmer, 
more modest style and his efforts to 
cool passions. 

But many Egyptians who initial- 
ly praised Mr. Mubarak for his 
caution later began to criticize him 
for what they saw as indecision. 

Now, however, many political 
analysts give him credit for consis- 
tency. 

When he arrived in power, he 
insisted that Egypt would not go 
out its way to restore relations with 
the Arab nations that broke ties 
over peace with IsraeL 

The only one to restore full ties 



HLytn 


A Gumoriah trainer aircraft, made in Egypt, in flffit- 


has been Jordan, which look the 
initiative. Cairo’s links with other 
Arab states, with the exception of 
Libya and Syria, have unproved 
greatly although the formal step of 
wiwirfing full diplomatic recogni- 
tion has not been mkm 

Mr. Mubarak has managed to 
keep relations with Israel correct if 
distant. He withdrew Cairo’s am- 
bassador to Td Aviv after the mas- 
sacre by Christian mititiamm at 
two Beirut Palestinian refugee 
camps during Israels 1982 inva- 
sion of Lebanon. The envoy has not 
returned, and a full withdrawal by 
Israel is one of the conditions for 
him to do so.* 

At recent talks between Israeli 
and Egyptian officials, the atmo- 
sphere was reported to be better 
than in many years. “They were no 
longer talking to each other, but 
with each other.” one diplomat 
Mid. 

The consensus among Middle 
East analysts is that the mange has 
been maoeposrible by the appoint- 
ment of Shimon Poes as Israeli 
prime minister. Mr. Peres is credit- 
ed with a softer tone than that of 
his predecessors, Yitzhak Shamir 
and Menachem Begin of the hard- 
line Likud bloc. 

They note that Egypt has been 
quid: to benefit from the 
and to do its part to improve 
atmosphere. 


ELuj rvrr.l l w Laj Loll nulla bJI x in a na uu 



s*?«r,.se‘ 






Founded in 1980 as soft drinks franchise of 
Schweppes International Ltd, U.K.- The 
company has rapidly grown to become the 
major producer of fruit juice concentrates in 
Egypt. 


Our fruit processing and concentration factory at Ismailia is located in 
one of the major areas for the production of citrus and tropical fruit. 

Our factory is not only equipped with the most modem machinery, but 
also uses most advanced techniques of production and quality control. 

Our main products are: — 

— Orange concentrate. 

— Lime concentrate. 

— Guava pulp. 

— Strawberry pulp. 

— Grape fruit concentrate. 

— Apricot concentrate. 

— Tomato paste. 

We also produce high juice content fruit drinks packed in aseptic car- 
tons. This line includes Mango - Guava - Strawberry and Orange 
drinks. 

For further details please contact our export department: — 
Tel: 02-606334 
Tlx: 93909 MOHAN UN. 

P.O. Box 8177 Nasr City, Cairo. 


Arms Exports 
Earn $2 Billion 
Yearly for Nation 

(Continued From Previous Page) 
skilled manpower at one-ax ih the 
price of the United States.” 

But one Western expert said: 
"The men at the too are as good as 
you win find anywhere But it’s the 
skilled labor at a lower level that'w 

missing ." * ' TF 

In one Egyptian factory that 
manufactures gun barrels, "the 
tools and kit are excellent,” he add- 
ed. “But there are only 3.000 work- 
ers in a factory that is supposed to 
have 7,000." 

The problem is one that rims 
through Egyptian society. Once 
workers gain skills, they often pre- 
fer to head for Gulf countries 
where they are paid many times 
more than in Egypt, leaving a dras- 
tic shortage of manpower at home. 

As die Alpha jet assembly line is 
phased out, the Hdwan factory is 
to begin assembling tire Brazilian 
E m bracr EMB-312 Tucano turbo- 
prop trainer later this year. Almost 
aO the 120 Tucanos on order for the 
Egyptian Air Force are due to be 
locally assembled. 

Another ambitions project, first 
mooted by Mohammed Abdd-Ha- 
tim Abu Ghazala, Egypt’s dynamxjto: 
defense and military production 
mini ster, is for the production of an 
all-Egyptian tanlr 
"They do have a prototype of a 
tank,” a Cairo-based diplomat 
said. “But it’s been made with for- 
eign help. They do not look like 
having the technology to build 'a 
modern tank from scratch for a 
long time." 

The local aims industry has, 
however, succeeded in making die 
armed forces, winch number some 
300.000 personnel, self-sufficient in 
s mal l arms and most kinds of am . 
munition. 

_ Much of the industry started 
simply to refurbish old arms sup- 
plied by Moscow. This is still dotw 
tort the industry went on to develo 1 
its own models of Soviet arms, sue 
as a version of . the shoulder-held 
Sam-7 antiaircraft missile 
The industry has g rown out of 
economic necessity. Some esti- 
mates put the cost of re-equipping 
completely with Western arms at 
more than 530 billion by the end of 
the 1980s. 

Other projects carried out by the 
Arab Organization's four factories 
have included assembly of the Brit- 
ish Aerospace Swingnre antitank 
missile and of the French Aerospa- 
tiale SA-3421 Gazelle helicopter. 

Future plans are to be involved 
in the assembly of the next genera- 
te 0 of fighters, such as the French 
Mirage-2000 and UX. General Dy- 
namics F-16s that are still on order. . 

Lwer down the aims fac- 
tories have turned their skills to 
civilian industry as a addine. -A 
sman-arms factory produces Nte- 
femti sewing machines, while's 
plant making mine cad «« has di- 
verted resources to kitchen pdts 
and ^ 


TIi? 


i: ... 


ft:-.- 

t 


Ki-..' . 

1 SL-..V 
! U..r. - 


...l. - 

i i. 


Dr' 


■V-. 


t has the best industrial 
base of any country in the Middle 
East except Israeli said a Western 
European diplomat "Bur it does 
wh yet have the technology to go' it 
atone on sophisticated projects." 

i be aims industry is successful 
but has a tendency to be overamfc 
uous. If it would stick to what 'It 
«an really do wdl and build fa 
tbat,jt would probably do better 



—JULIAN NUNDY 



INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 15-16, 1985 


Page 11 




3tK 


one 


A SPECIAL REPORT ON EGYPT 





Oil, Gas Potential 

orers 






!t 5'<< m&U .,i 
t* the Si* ,: 


Milh.i 


,,fl ^ 


Vti 

4' 


•V • : J -^; 






Inns /ivjwitj 
.urn 82 8ilfa 
1 r«rfv for Mi 


/ 


i I r.tnPvicI 


By Robert Bailey 

LONDON — -Egypt's explora- 
tion potential continues to attract 
. strong interest from international 
oil companies despite the slump in 
-.world hydrocarbon prices. 

Apart from the opportunities an 
■-'and offshore, tbefordgo interest is 
to some extent a reflection of the 
Egyptian authorities' need to sus- 
tain and develop the country’s en- 
ergy resources for domestic use and 
_for export income. 

03 production was averaging 
870,000 barrels a day ait the end or 
1984. Egypt having agreed to cut its 
output ty 30,000 carrels a day in 
line with dedskms of the Organiza- 
tion of Petroleum Exporting Coun- 
tries although it is not a member of 
the g r oup . 

Egyptian output over E984 had, 
in fact, increased 20 percent on the 
previous year following the coming 
into production of new concessions 
in the Gulf of Suez, including the 
_'.Z eh Bay field. 

A dozen international o3 compa- 
nies signed exploration agreements 
in 1984 with the Egyptian General 
Petroleum Carp, and pledged to 
spend a total of S645 million pro- 
specting for both o3 and gas in the 

■ principal production area of the 
- Gulf of Suez as well as the Western 

■ Desert and Sinai. 

In the last two years alone, scane 

23 exploration permits have been 
-granted covering an area of 65,000 
square kilometers (26,000 square 
miles). Exploration wells drilled in 
1984 led to the discovery of 11 
offshore weOs and eight onshore 
-fields. Biggest producing fidds in 
• the Gulf of Suez are Morgan, July, 
August and Ramadan, winch are 
operated by Gulf of Suez Petro- 
. ’ ' ■ ieum Co. on a production-sharing 

V .'.'" 71 arrangement between the Amoco 
4 of the United States and Egyptian 
- ll li\>s;x - Petroleum.- 

— Zeit Bay is now prodocing at a 

"rate of 65,000 bands per day and is 
one of the three fidds operated by 
Egypt’s most rapidly growing pro- 
ducer, Suez 03 Co, which groups 
Egyptian Petroleum, British Petro- 
leum, Royal Dutch Shdl and West 
Germany's Demin ex. 

Hie declared aim of the current 
five-year plan is to achieve an out- 


put of a million bands a day by 
1988. However, Petroleum and 

Mineral Resources Minister Abdd- 

Hadi Mohammed Kandfl said last 
year, “It is mere important far me 
to have o3 reserves than to reach 
one millio n barrels-a-day produc- 
tion.’’ 

Last year, Prime Monster Kama- 
leddxn Hasan Ali told the People's 
Assembly that domestic consump- 
tion of oil was rising 15 percent a 
year. ’This f"”" 1 * that in seven 
years’, time we shall consume our 
entire' production and nothing wiE 
be left for export,” he 

While. Egypt] 

90Q,000 bands a< 
only amount to 200,000 barrels, 20 
percent of winch is sold to Israd at 
prewnhng market rates. The rest of 
export production goes to a wide 
range of international customers, 
wi fh prices fallowing market trends 
and Song set an a monthly bass. 

Local needs devour 500,000 bar- 
rels a day of national production 
and there seems Hole prospect in 
thf.itnmrrirffte fritnre of the country 
reversing this huge domestic con- 
sumption in favor of exports. The 
baric cause is the degree of subsidy 
expended by the government to 
keep energy prices down for the 
consumer.lt is a prop that Egypt’s 
industrial aid commercial users, as 
much as Cairo’s car driven, have 
come to rely on. 

The system seriously distorts the 
economy. According to Mr. Kan- 
ctiFs predecessor, Ahmed Izzedin 
HflaL subsidies on locally con- 
sumed o3 products amounted to 
nearly $3 billion in the 1983-1984 
fiscal year, aiding July 1. 

For political- and soda! reasons, 
the subsidy system is not going to 
be radically overhauled. In the 
term, the government is 
^ to develop nuclear energy 
and bids for a first atomic power 
station near Alexandria are now 
being evaluated. A more extensive 
use of gas for industrial and domes- 
tic uses is also likely to be encour- 
aged. 

Late last year, Mr. KandO said 
that plans woe in hand to intro- 
duce incentives far foreign compa- 
nies to explore and develop gas 
reserves, including the extension to 



MOT* 


At work in a field in the Gtrif of Suez, above. Below, 
construction of the Cairo Natural Gas project 



gas producers of production- shar- 
ing agreements now existing for oIL 

But the interest for international 
companies and financiers will be in 
terms of e xport potential rather 
th/t n involvement in Egypt’s uneco- 
nomic subsidized domestic market 
A drawback up to now has been a 
rule drawn up in 1980 prohibiting 
gas exports until nattxral-gas re- 
serves of 340 billion cubic meters 
had been proven. However, in 
April this year the chairman of Pe- 
troleum Gases Co., Abdel-Moneim 
Abul-Saoud, was quoted in the 
Cairo daily Al Ahrmn as saying this 
level had been reached and that it 
was now legal to produce gas for 
export 

Whatever incentives are eventu- 
ally decided on to draw in foreign 
‘investment to exploit reserves, the 
provision of alternative and en- 
hanced energy sources is going to 
be a lengthy and costly process. Far 
the immediate future oO is going to 
remain the main Islay of energy re- 


MBM 


quirements. Exploration efforts are 
being strengthened and not just in 
the offshore waters of the Gulf of 
Suez. Egyptian Petroleum puts to- 
tal recoverable Western Desert re- 
serves at 190 mini o n barrels and 
believes more exploration will im- 
prove this position considerably. In 
1984, France’s Total Mqyen-Onent 
agreed oh a $49- million schedule 
over a scven-and-a-half-year peri- 
od in northern Sinai. 

With the promise of substantial 
recoverable o3 reserves, there is a 
reasonable chance that the oil will 


programs to 
shape But steadily increasing costs 
of enhanced oil-extraction meth- 
ods, which will be needed as exist- 
ing fidds run down and as world 
prices and politics change in the 
region, wiQ be crucial in determin- 
ing whether the present enthusias- 
.tic interest of international compa- 
nies in prospecting for Egyptian aQ 
cajrbe sustained. 


The * Blooming Desert 9 Remains in DreamPkase 


*:■■■• **v -V 


■v- ■* . 


f - 


r,:. V- . 



^ (Continued From Paget?) 

.. glaring gaps in desert research. Tri- 
als are being carried out for various 
high-value’ crops including sweet 
' com and tomatoes, which are being 
' _ grown using drijrini^atian and low 

alfalfa and lupins, under sprinkler ' 

- irrigation, are being compared for 
" their abilities tobufldup sailstruo- 

~ lure. And a livestock breeding pro- 
. gram is under way. Gtrus varieties 
. ■- are bang compared and eucalyptus 

- ' trees are being planted for wmd- 
.;. ^breaks and fudwood. . 

... “We’re learning just what wc can 

■ and can’t do in the desert,” Mr. 
\.l "Bower sakL He stressed that “given 
half a chance, small fanners could 
T.. -succeed here.” 

“ ■* The government is trying to 
_V. ? speed up desert reclamation. Earii- 
er this year, at the instigation of the 
, agriculture minister, Yoosscf Waiy, 
land prices were slashed. The mam 
. v_ proviso is that the land must be 
- - T .cultivated within three yean. 

At the s«Tne tune it is eocoorag- 
v ; ing desert redamation, the govem- 
ment is attempting to boost pro- 
duction from “old lands,” namely, 
.the ribbon of agricultural land an 
. the banks of the Nile and in the 
' Delta. According to unofficial esti- 
. • r males by foreign agriculturalists, 
productivity in the old lands could 
be increased by up to 50 percent if 
there were no competition from de- 
sert redamation projects for invest- 
." ^menl funds. 

. The Naway vflkup improved 
farming project in El Menya, fnnd- 
1 ed by the United Nations Develop- 
ment Program, shows how in- 


creased _ mechanization, better 
tinting Of irrigation mid plaiting of 
improved crop varieties can in- 
crease yields dramatically. 
Nawa/s farmers are among the 
most traditional in the country and 
like the mqority of Egypt’s Farm- 
ers, own less than one acre of land. 
However, following machinery 
demonstrations an several of their 
farms, they are enthusiastically 
adopting mechanization not simply 
for tilling — which is already the 
norm in Egypt — but for planting, 
weeding, ditching, spraying, 
threshing and so on. Moreover, af- 
ter three years of the project's oper- 
ation, they are paying unsubsidized 
rates for hiring project equipment. 

Mechanization is being given a 
national push in the old lan d s . The 
Ministry of Agriculture plans to set 
up 150 self-snpporting. mechaniza- 
tion center* that wul introduce 
farmers to new technologies and 
hire out machinery. As such, the 
Naway project wfll provide useful 
lessons since tins is the only com- 
munity levdproject for mechaniza- 
tion in Egypt Twenty-seven cen- 
ters have beat set up so far at the 
main center at Salma, in Kafr d- 
Sheflc, andcomparative fidd trials 
cm foreign equipment are under 
way to find the best models for 
different crops and fidd sizes. 

Tractors and chisel ploughs are 
already used by three-quarters of 
Egyptian farmers and, according to 
Mr. Waly.-'Sery soon our tradi- 
tional wooden, pfonghs will (mly be 
used for deepratiemm restaurants.” 

Water is central to agricultural 
policy, particularly now that the 


African drought is impinging on 
Tgjpt's resources. Accardingto the 
Ministry of Irrigation, offtakes 
from Lake Nasser have been cut by 
10 percent since April and an inter- 
ministerial committee is drawing 
up plans for water and power ra- 
tioning. If rationing is introduced, 
farmers would be affected the 
worst since: 

90 percent of supplies. 

' Water-conservation projects are 
being pushed ahead. Biggest re- 
turns are expected from 
drainage water from agri 
land. For example, El Salam Canal 
is being btrilt mm the Damietia 
branch of the Nile to the Suez Ca- 
nal, and a half of its water wfll 
come from two main drains. This 
dr ainag e flow is mixed with fresh 
water so that salinity levels are kept 
in check. 

So far the canal is over 80 lolo- 
meters (49 J miles) long and should 
reach the Suez Canal m 1987. Fu- 
ture plans indude taking El Salaam 
waters under the Suez Canal by 

jccuTb Sinm — proposals of dubi- 
ous economic merit, according to 
outside agriculturalists. 

In addition, treated sewage from 
Cairo wfll be used for irrigation 
when the Cairo wastewater project 
is completed. 

However, improving water dis- 
tribution in the country's irrigation 
network would go a long way to- 
ward improving water-use and 
farm efficiency. (X critical impor- 
tance, therefore, is the US. Agency 
far int erna tional Development’s fi- 
nancing the telemetry project to 


monitor., water levels throughout 
the entire canal Systran. Bids are 
bong evaluated for 255 solar- 
powered monitoring stations that 
will send instantaneous data by ra- 
dio links to two main computer 
centers in Cairo and Aswan. 

Using a new mathematical mod- 
el for the country’s water network, 
irrigation -staff wfll issue instruc- 
tions to canal operators on which 
canal gates should be opened and 
for how long — a far speedier pro- 
cedure than used at present. Field 
staff measure water levels from 
gauges, telephone the data to Cairo 
and await instructions. 

Nevertheless, Mr. Waly is ada- 
mant that increasing farm produc- 
tion to meet demands of a fast- 
growing population will depend on 
the individual efforts of Egypt’s 35 
mini pn farmers. It is significant 
that since 1980, Egypt’s agricultur- 
al research stations have been di- 
rected into demonstration and ex- 
tension work rather than pure 
research. 

Egypt’s fanners, though, face a 
efikmma. Many may wish to adopt 
20th-centmy technology — wheth- 
er that be modern drip-irrigation 
systems or tractors and threshers — 
but they have limited opportunities 
to get credit. Village banks are the 
usual route, but as one Naway 
fanner said, “I don't Hire the bank 
because it takes a year to get a loan 
approved.” And according to one 
United Nations official, -The diffi- 
culty in gating loans is the biggMt 
constraint on ine ownership of ma- 
chinery in this country ” 





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PAID UP CAPITAL US $150,000,000 
RESERVES US $84,000,000 


Head Office: 35 Abdel Khalek Sarwat, Cairo, Egypt. 
Branches: Cairo, Alexandria, Port Said & Bahrain. 


Five Years Banking 


(In millions of US dullsirs) 


Year Ended 

30/6/S0 

30/6/81 

30/6/82 

30/6/83 

30/6/84 

Deposits 

1,085 

1,277 

1,609 

1,967 

2,135 

Loans and advances 

292 

417 

390 

543 

680 

Net profits (before 
provisions) 

31 

26 

33 

24 

22 

Dividends distributed 
(percentages) 

15 

15 

15 

15 

13 

Total balance sheet 

1,353 

1,559 

1,918 

2,273 

2,433 

Documentary credits, 
guarantees etc. 

222 

240 

404 

367 

354 


Arab International Bank was established by an international treaty in 1974. 

By virtue of the treaty the Bank enjoys certain privileges in the territories of the member! 

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— Exemption from laws regulation banks, exchange control and auditing requirements. 

— Immunity from all forms of nationalization and seizure of shares in and deposits with the • 
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—r Confidentiality of customers’ accounts with the Bank which are not subject to judicial or • 
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any dividend or interest. 
















Page 12 


INTERNATIONAL HERALD TRIBUNE, SATlTtPAY-SUNPAY, JESE 15-16, 1985 


A SPECIAL REPORT ON EGYPT 


Acute Shortages of Foreign Currency Demonstrate Weaknesses of the Economy 


CAJRO — Acute foreign-ex- 
change shortages have become the 
Eg>pu'an economy's chronic ill- 
ness. In the absence of concerted 
efforts to control the problem and 
prevent further weakening of the 
Egyptian pound, the once occa- 
sional squeezes are becoming more 
frequent. 

The most visible sign of the ill- 


ness is that the Egyptian pound has opening the way to a backlog of oul Central bank statistics show last year and are drawing close to system has been a bone of conten- 

losi more than 20 percent of its import requests that had accumu- that the banking sector's net for- the SIG-billioa mark this year. are lion in talks with the World Bank 

market value against the U.S dollar laied over the first quarter of this eign assets have dropped and that about twice as large as exports, and the IMF. Both international 

in one year, with the free, or black- year. The dollar has had its strong the increase in foreign-currency de- leaving a deficit of about 55 billion donors have been pressing Egyp- 

markeu rate recently reaching a position in the Egyptian market posits, mainly dollars, has slowed for the present year, Egypt's in- lion officials to adopt a unified 


market value against the U.S dollar 
in one year, with the free, or black- 
market!, rate recently reaching a 
high of 1.5 pounds to the dollar. 

The i mme diate reason behind 
the deterioration in the pound’s 
condition was the government's 
sudden relaxation of import curbs. 


laied over the first quarter of this 
year. The dollar has had its strong 
position in the Egyptian market 
enhanced by a wide balance-of- 
trade gap. Moreover, it is the cur- 
rency in which more than three- 
quarters of foreign-currency 
transactions in Egypt are carried 



posits, mainly dollars, has slowed for the present year. Egypt's in- lion officials to adopt a unified 
down. come from oil exports has stab:- floating rate for the pound and to 

The most important long-term lized over the last two years at take measures to streamline goy- 
influence on the foreign-exchange around S2.4 billion and Egyptian erament spending and slash subsi- 
si tuition Ls the heavy balance-of- commodity exports, led by cotton, dies. The government has been re- 
payments dependence on spillovers have slightly dropped below last sisting these calls, arguing that a 
From oil ana oil-related resources, year's levels! unified rate, reflecting supply and 

which has become a structural Tea- Adding to the drain on dimmish- demand in the market, can only be 
ture of the Egyptian economy dur- ing foreign-exchange transfers is implemented when the market is 
ing the last decade. Egypt's biggest the foreign-debt service. Interna- balanced. 

source of foreign-exchange trans- lional organizations such as the Bui Egypt has taken steps in the 
fers is remittances from an estimat- World Bank and the International direction of rectifying its economy 
ed 2.5 million Egyptian expatriates Monetary Fund put the -otal debt in line with the IMF conditions. 


bv oil. cotton and nee exports and rials started affecting the economy. - 
Suez Canal tolls, all of which are Egyptian officials realize the ad-; 
directlv controlled bv the govern- vantages of unifying inc exchange 
mem, ' rates and they to be consider-; 

A rate introduced four years ago ing different ways of reaching that, 
to prevent the growth of a black end. but none of them would sera 
market was S4 piasters to the dol- deadline for making the move. The. 


implemented when the market is 
balanced. 

Bui Egypt has taken steps in the 


lar. which remains applicable to 
airline companies, embassies and 
branches of foreign companies op- 
erating in Egypt. Another rate set 
at 1.33 pounds to the dollar is basi- 
cally the previous rate to which a 


new minister of the economy. Sul-! #■ 
tan Abu AH. has publicly said he 
was considering licensing dealers. . 

But the new- governor of the era-; 
tral bank. Alt Ncgm. said that the! 
banking sector should be encour- 


premium was added to encourage aggj M pjj V jhat role and that it; 
transfers through the hanking sys- represented a more viable channel' 


working in the Gulfs oil-exporting 
countries. The second largest 
source is oil exports, followed by- 
Suez Canal tolls and tourism. 

As a result of the economic diffi- 
culties in the Gulf because of the 
slump in the world oil market, re- 
mittances are forecast to drop by 


Egypt's imports, which exceeded $9 billion 
last year and are drawing dose to the 
§10-billion mark this year. 


tern. The highest rate is that offered 
by unauthorized dealers to attract 
expatriate remittances for financ- 
ing imports through free forrien- 
currencv accounts. Representing 
two- thirds nf the foreign-exchange 
supply, this rate has lately shot up 
to 1.50 pounds to the dollar. 

The partially floating rate was 
first introduced last January as part 


for transfers. He said he was hop- 
ing the pp between the new rate! 
and the black-market rate could be) 
narrowed and that the central bonk' 
was helping reduce reliance on 
fluctuating foreign currency in- 
flows by building up its reserve.; 
which averaged S^SO million dur- 
ing the second half of last scat. 

Samuel Zavatti. Bank of Ameri- 
ca's vice president and regional 
manager, pointed out ways in 
which branches of foreign banks 1 


t r Embassy Fepon estimates the dvil- international cooperation. Kamal roro.uumg tne use m mre tunx at- operttlmg in Egypt could hdp in- : 
i-M^bimoii. m.Jddlta d-Ganzouri. has said thauhe IMF l inftaof 


ON BUSINESS IN EGYPT.. 


COME TO SHERATON. 


Come ten minutes from the airport, to 
the centre of government of 
administration of exhibitions Come to a 
superb new business centre, with word- 
processor and 24-hour telex. Come to 
Cairo's oasis of relaxation - to poolside 
cabanas and bars and a dazzling array 
of fine foods horn many lands. Come to 
the Heliopolis Sheraton . where 
Egyptian hospitality comes alrve. 


year to S9fi0 million; attacks on oil rZ 

SS Sffic^dTSS vided al terms- emment’s 'gradual appioach 

1«I E &P&an officials concede that Exchange rates presently in force 

the external public debu excluding include one at 40 piasters to the 


temporarily upset navigation. T P ™ 1 U E PU 

^ 3 \ short-term facilities, has increased 

Despite a slight increase in the by more than a fifth during the last 


is not fully convinced by the gov- cur } 5 . bla<A market activities, and 
emment’s gradual appioach. making the down payments and 
Exchange rates presently in force * v **ttual repayments for tetters of 
nclude one at 40 masters to the m Egyptian pounds in an 


short-term facilities, has increased dollar (there are 100 piasters tn an 
Despite a slight increase in the by more than 3 fifth during the last Egyptian pound), which was the 
number of tourists, more than half three years, reaching almost S 12 rate of calculation for countertrade 
of whom are Arabs, revenue from billion. They say that" the servicing, agreements with East-bloc coun- 
tourism has stabilized at dose to which is mokiy interest repayment, tries, lately phased out and repre- 
5600 million annually over the lasi is a little more than S400 milli on seating a very small portion of 
three years. " annually. In spite of temporary dif- transactions. Another rate, used for 

The growing balance-of- trade Acuities in repaying international internal government accounting 
deficit is another Factor determin- debtors lately. Egypt's credit rating purposes, is 70 piasters to the dol- 
ing supply and demand in the for- remains good and it is still dassi- lar. applicable to government im- 
eign-exchange market. Egypt's im- fied as a medium-risk country, ports of basic commodities, with 
ports, which exceeded S9 billion Egypt's multi-tier exchange-rate foreign exchange supplied mainly 


tries, laidy phased out and repre- 
senting a very small portion of 
transactions. Another rate, used for 
internal government accounting 


effort to channel foreign-exchange 
operations through the banking 
system. 

The process Maned by the outgo- 
ing minister of the economy. Mus- 
tafa el-Said. was brought to a halt 
by his successor, when foreign-ex- 
change inflows fell sharply, pre- 
venting banks from fulfilling cli- 
ents' requests for trade financing, 
while shortages in supplies of im- 
ported goods, parts and raw mate- 


change through official channels if 
they were permitted to deal in 
Egyptian pounds also. He said thev . 
could help organize the interbank ; 
market once the currency is flouted \ 
by providing short-term facilities 
to enable the central bank to inter- 
vene whenever dial is needed and 
to introduce swap facilities. Thcs£/«* 
would make available largij 
amounts of foreign exchange ana 
receive the equivalent in Egyptian 
pounds to overcome the frequent 
shortages and fluctuations in the: 
market. 

— OLFAT TOHAMY ■ 





Banking Results Reflect the Economic Downturn 


Li m 


(S) 


Heliopolis Sheraton 


Sheraton Hotels, Inns & Resorts Wo rldwide 

The hospitality people of T'FI 1 

For reservations and information, call 
Cairo O6550Q. telex 93300. or your nearest 
Sheraton Hofei or Reservations Office 


CAIRO — Egypt's banking sec- 
tor has emerged from a difficult 
year, with the economy's down nun 
reflected on balance sheets. 

Last year was marked by an ac- 
celeration in the decline of net 
profits and near stagnation of the 
banking sector's assets. The four 
public-sector banks. Bank Misr, 
the National Bank of Egypt. Ban- 
que du Caire and the Bank of .Alex- 
andria. which account for two- 
thirds of commercial banks’ assets 
and provide four-fifths of the loans 
extended by these banks, have not 
been immune to the negative trend. 
Their profit margins narrowed and 
their net profits fell last year. Bui 
being more solidly based, ihey have 
suffered less than their joint ven- 
tures with major foreign partners. 

The smaller, privately owned 


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UWF ««8. a M Es ^™ 1 

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banks seem to have suffered more 
than the others, while the 21 
branches of foreign banks, operat- 
ing as offshore units dealing only in 
foreign currencies, struggled last 
year to prevent their share of the 
market from sh rinkin g. 

Although they are burdened with 
the weight of government and pub- 
lic-sector borrowing, often imply- 
ing preferential terms and some- 
times involving overdrawing, the 
f-.'ur public-sector giants have more 
room to maneuver than the others. 
Their long expertise and large 
funding base permit them to Jo 
investment banking, including 
their direct participation in pro- 
jects. They also have the capacity, 
with hundreds of branches spread 
all over the country, to diversify 
into new areas such a> Islamic 
banking. 

Bank Misr. the oldest and largest 
of the four, has introduced services 
in line with the rules of Islamic 
sharia, which prohibits fixed inter- 
est. Others, including private-sec- 
tor banks, have done the same or 
opened Islamic branches to benefit 
from this increasingly popular ser- 
vice. Some of the smaller banks 
have raised their capital to 
strengthen their positioiL 

“The climate is unhealthy," an 
analyst said. Some bankers reluc- 
tantly admit that the imprudence 
and fierce competition that marked 
the boom period, which ended 
three years ago. are only beginning 
to make their impact felt, with a 
few big names defaulting on debts 
amounting to hundreds of millions 
of Egyptian pounds. Small as well 
as big banks are embroiled in court 
cases to settle accounts. 

Specialists believe that bank 
practices should be controlled 
more strictly. The latest monthly 
consolidated balance sheet for 
commercial banks operating in 
Egypt prepared by the central bank 


shows that about half their loans 
were extended without guarantees. 
Opinion is divided in the bank- 


ing community as to whether the new economic conditions require a 
time has come'for relaxing controls review of the interest-rate scale, 
imposed three years ago to limit which is 11 to 13 percent for indus- 
crcdit growth. The ceiling on the trial and agricultural projects, be- 
total amount of credit was set at 65 tween 13 and 15 percent for the 
percent of deposits, and lending to services sector ana above 16 per- 
a single client at 25 percent of de- cent for commercial ventures. 


These regulations have, in part, 
led to activating the local interoank 


market and to the encouragement since the recent resignation of the 


of syndications. 


The regulations pose difficulties el-Said, who had amended the law 
in the case of major syndications, last year, 
such as one lead-managed by the Although its introduction of 
National Bank of Egypt, the sec- gradual sanctions applicable to 


and largest public-sector bank, 
amounting to S240 million. 


This was the first such loan to be central bank's role, the amendment 
arranged locally to contribute to gave the minister wide powers, in- 


setting up an iron and sted plant eluding the right to dismiss board . 
near Alexandria. members of hanks. With the outgo- 

It is also widely believed that the ing minister's policies discredited.- 
rw economic conditions require a reverting to the original law seems 
view of the interest-rate scale, imminent. Many bankets agree jt 
hiehis 11 to 13 percent for indus- with Misr-Iran Developments 
ial and agricultural projects, be- Bank's chairman and managing dk ■ 
■een 13 and 15 percent for the rector, Foutid Sultan, on the’impor? • 
rvices sector ana above 16 per- lance of coordination between the 
m for commercial ventures. central bank and the banking com* 
The central hank's role and the munity to set the goals of an effec-. 
w outlining its activities have be- tive monetary policy and to agree 
•me the focus of public attention on ways or implementing it. 
ice the recent resignation of the Responding 10 widespread calls 
inister of the economy. Mustafa for updating monetary and creilir 
Said, who had amended the law policies, the new central bank gov- - 
H year. emor. AH Negm. said. “It is time 

Although its introduction of for the credit policy and inicrcst- 
jdual sanctions applicable to rate structure to be reviewed." He.- 
nks that break regulations was said a study involving the implies- 
nsidered an enhancement of the tions for economic development is . 
rural bank's role, the amendment being made, 
ve the minister wide powers, in- — OLFAT TOHAMV a. 


The central hank's role and the 
law outlining its activities have be- 
come the focus of public attention 


minister of the economy. Mustafa 


banks that break regulations was 
considered an enhancement of the 


Economy Enters Period of Change 


(Continued From Page 9) which are expected to increase bv 9 months ago, admits that it has so 
DU bIic sector's oroductinn with annually in the develop- ’ far not been able to provide its 

three-fifths of ouhlic investments menl pi®®- ma >' ** unable to com- public or private-sector clients with 
durin«Mhe fim P three veare oTthe P«e with better quality and cheap- imde-financing facilities on special 

pbrn* spent on *£?**?* W ° r ' d ^ ^ ^ vernm ^ , ’ s 

started earlier and one- tmrd aimed ^?h^*™«s»nga waveofpro- apparent reluctance to extend a 
„„ j tectiomst measures. long-term loan to iL A requested 


tnree-iums ot punuc investments IZI TT j u 

during the first three vears of the 

plan spent on finishing projects WOrld ma f kcls ' 

a .£ J. j which are witnessing a wave of Dro- 


started earlier and one- third aimed 
ai maintenance and renovation. 
Public-sector industries, which ac- 


A number of government-spon 


count for over two-thirds of indus- sored steps to develop export ca- 
t-rial production, have also under- parity have been taken during the 
gone streamlining of their last few months, including an ag- 
opera lions, helped by rises in previ- gressive marketing campaign in 
ously fixed prices of its output several Arab and African coun- 
This has largely improved the quak tries, and the setting up of the Ex- 
ity of products and put an end to a port Development Bank of Egypt 
long record of losses by most com- Bui private-sector entrepreneurs 
panies. complain that red tape ana the lack 

Coupling import substitution of special incentives such as soft 
with boosting exports may prove loans reduce the competitive edge 
more difficult than policy-makers of Egyptian- exports, 
seem to think. Having been isolat- Hazem Beblawi, the chairm.-ip 
ed from foreign markets until a and managing director of the new 
decade ago, Egyptian exports, bank, which was opened three 






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apparent reluctance to extend a* 
long-term loan to iL A requested 
World Bank credit line remains 
frozen because of differences ova- . 
the exchange rate. ,' ; 

Through the remaining two years- 
of the plan, and until a decisive- 
shift toward commodity produc-- 
don is achieved, oil will r emain the 
fastest-growing sector of the eccmor > 
my. With the bulk of remittances- 
from Egyptian expatriates trans- 
ferred through unofficial channels*, 
and with transfers falling lately 
with the return of many of the ^ 
estimated 2.5 million Egyptian ■ 
workers in Gulf countries, oil ex- - 
ports will remain the country's top 
foreign-exchange earner. 

They wiD be the main pillar of . 
balance-of-payments support, de- 
spite a projected growth of almost 9 ! 
percent in other exports. 

Infrastructure services, panicu- ; 
larly power generauon, is the sec - 
ond-largest expanding sector, fol- 
lowed by industry, which i®: 
expected to become the biggest sec- 
tor by the conclusion of the plan, 
accounting for a quarter of gross! 
domestic product by 1987. 

The government is going ahead , 
with structural reforms in line with, 
the development plan's approach. 
With large investments made to ew** 
pand the power-generation capacK 
ty, and wnh the government seek-- 4 
ing to orient investments toward 
other sectors, electricity charges- 
have almost doubled. 

Although energy in its various 
forms remains heavily subsidized* 
partly due to the cumulative effect 
or price freezes, the price increase , 
marked an important change in the 
government's attitude. Similar 
steps were taken on politically, 
more sensitive direct subsidies such 
b ™- L thc . Price of which was - 
doubled by the introduction of a 
new loaf and the phasing out of the 
cheaper version. 

Other steps seem to indicate . 
movement toward the selective 
subsidization of end products rath- ! 
a- than production inputs, but this ‘ 
change seems to be too slow to 
oonvince international aid donors.', 
beaded by the International Monel - 
lary Fund. 

The new draft budget presented 
to parliament includes for the first ; 
ume a freeze on direct subsidies, ! 
amounung to about 2 billion Egyn- . 
uan pounds (S3 billion). The figure ' 
excludes indirect subsidies on ener : ■ 
gy. trimmed by the recent price 
increases. 

. Another politically significant- 
indicator in the new budget is the 
government’s continuing commit 
ment to create employment oppor.-- 
tunnies for dose to half a million' 
people annually, with the demand 1 
on jobs expected to rise due to thq • 
of expatriate workers from . 
the Gulf. 




IV 


\*'A 






Synergism 


INTERNATIONAL HERALD TRIBUNE, S ATURD A Y-SUNDA Y, JUNE 15-16, 1985 


A SPECIAL REPORT ON EGYPT 


SUEZ CRNQL BONK 


Assumes «ill aspects of banking 
activities in Egyptian and Foreign 
currencies. 


THE SYNONYM OF BUSINESS 
IN EGYPT 


A Crowded 
Capital 

Cairo workers crowded on 
a truck bed, above left, and 
a Cairo traffic policeman at 
work, above right. 
Meanwhile, construction 
continues on the capitaFs 
underground transit 
system. 


STARTED 

Commercial Activities 

Accepts deposits & opens current 
accounts, letters of credit and issues 
letters of guarantee ... etc. 


A key bank in a key region with over 
200 branches in Egypt and an exten- 
sive correspondent network throughout 
the world providing a full range of high 
quality banking services. We read the 
pulse of Egyptian business so accurately. 


Investment Activities 

- Finances and participates in 
development projects in various 
sectors. 

- Renders technical & economic 
services for investment projects. 


TJ.S. Aid Now Focused on Development 

CAIRO — Ten years after it This program 
started as an American contribu- provides concep- 
tion to help repay damage incurred wonail ftnwSng ffl- 
over 30 years of war with Israel, cilities for the 
U.S. aid for Egypt has grown into a government and 
wide-rangi 

e ngagingl y 


If you feel our expertise could be of 
benefit to you, contact us. You will be 
opening the door to a better way of 
banking. 


The Trend in U.S. Aid 

( in miriinnn of doQus) 


Main Branch located at: 

1 1 , Mohamed Sabry Abou Alam Str. 

Cairo - P.O. Box 2620 

Telex 393 SCB UN - 93832 SCB UN 

- 21716 SCB UN 

Tel: 751033/751066 

Telex: 93852 SCB UN 


w an in- the public sector 

_ and tangible fm - to enable to 

pact on 'Egypt’s future economic buy U-Sconsum- 
devetapmeaL cr goods, raw ma- 

The program, which has so far terials and capi- 
aDocated more than S10 bsQion in tal equipment 
loans and grants to Egypt, has re- Irnphotly criti- 
cal tly reached a. turning point. The dang the multi- 
Egyptian economy’s slower rate of . tnde of projects 
•growth and the difficulty of adjust- sponsored by the 

to the chang e are bnrigplg U.&, aid agpicy, 

about a new attitude toward eco- Mr. Kimball sod, “We wiQ try to t^hnnld mwW^tatid and the govern- U _S-manuf a ctnred goods, occa- 
nomk development, which seems compress oar activities over the meat should be willing to keep os aonaDy stumbling into problems 
to be in fine with the U.S. Agency next two years.” He panted out informed about what their macro- that have prevented the expendi- 
for International Development's . that this would not entail a reduo- -raanagww-nt how they are do- tore of some of these funds. A 
revised approach toward its worid- tion of total funding fa projects, ing it, and to have us confident that group of entreprenems has been 
wide actmties, and specifically its Singling out two projects, which they are manag in g the economy as trying through a committee formed 
role in Egypt. have been criticized in the press as well as possible/* Kir. Kimball said, by the U^- Egypt Chamber of 

An outcome of the agency's as- wasteful, he also said that the mis- Having mad* cnhctanriai coutd- Commerce to increase the amount 
sessment of its perfonnance over sion will in the future cany out hnti~,7 tn wpg raditig itifr»«t mr«nT » of the facilities, as well as expand 
several yean was a decision to reg- more thorough studies of projects it services in Egypt's major cities, Mr. the private sector’s input into the 
ulariy monitor and review the strat- participates in, even if it is only Kimball thinks the program should implementation of the agency’s 
egy of specific programs imple- supplymg eqimimenL now focus on other areas. projects, 

merited in different countries. It Mr. Kimbafi seemed to disagree The chamber’s vice president, 

was also decided that the scope of with his predecessor cm ways of Shafik Gafer, who headed the corn- 

authority cf the head of the mission dealing with, or .preventing occa- nua uemg public wanes, _ he said, nnttee last year, has even more am- 
in Egypt, which is the largest in the sianal criticism in the press of the He vie wed future priorities as the bilious aims "The private sector 
aodd, would be widened. This was agency’s activities. unpxovunent of h ealth services, should play a role in designing and 

J^led with tho-appamtmcni to Tie rejected- the idea- of raising - ^hxgitian and. trai ning, a nd.tftecn- unpicnincing the program,'’ he 

Cairo last November of Frank the agency’s profile, or what he h a ^ ent decen- ^ 

Kimbafi, who was the aid agency’s described as “building mono- tmmahon through supporting lo- Mr. Gabr, who is managing di- 
counselor, its most senior career meats.” He said that the subject 081 government entities. rector of Artoc Suez Trading Co, 

position. ' had oome up with his Egyptian Mr. Ganzouri believes that in said he was rallying support from 

One of the significant reflections counterparts and that they had “ex- addition to agriculture, industry other organized private-sector 
of the change is that starting from pressed their understanding” for should be wnpha«7wi as well as groups to create a nonprofit orga- 
the 1985 fiscal year, the total the need to broadm the state-run energy and construction, while re- uization with support from the 
amount of assistance provided for media’s coverage of. the agency’s search, training and services could agency to provide consultancy and 
Egypt has reached $1.04 billion, efforts. be carried out by the Egyptian gov- other services and information to a 

Citing the example of the US eminent Mr. Kimball strongly fa- wider section of the Egyptian pub- 


1980 

865 


Address: 24 Sherif Street, Cairo, 

Telephone: 744022 - 7441 75 
Telex: 92238 NBE UN 

92832 NBE UN 


Branches: 

Cairo - Alexandria - Port Said - 
Suez - Ismailia - Giza - Maadi - 
Heliopolis - Tanta & Dokki 

(for Islamic Dealing ) 


London Branch 

2 Honey Lone (Off Cheapside), 
London EC2V 8BT 
Tel: 726 4230 - 726 4237 
726 4238 - 726 4239 
Telex: 894735 - 894736 


including $815 mfifian in project Citing the example of the US eminent- Mr. Kimball strongly fa- wider sec 
financing and S225 million under supply of a dozen new turbines for vored backing tbe private sector to lie sector, 
the Food for Peace program, pro- the Aswan High Dam, the largest hdp the economy get over its pro- 
vided in rind. Another important standing symlxri of Soviet-Egyp- 
turnaround this year is that the turn friendship at its zenith in the 
funding component of the program 1960s, he sahfbe was satisfied that 
has for the first time become a thousands of Egyptians saw the 
grant, meeting a long-standing tmbmes sail up the Nile until they 
Egyptian request for parity with reached Egyprs southernmost city. 

Israel, which has been receiving Egyptian and US o ffi cials have 
lavish US aid grants for several expressed their relief that an in- 
years. aeasingty large part of frozen 

Moreover, the UJ3. Congress re- funds, which were authorized for 
ceatly approved a S500~miI5on specific projects but not spent be- 
cash transfer to Egypt far the fiscal cause ofimplmirnfalkm problems 
year starting next October. Israel or red tape, are being re l ea s e d , 
has been receiving its grant in the They recognize the importance of 
form of a cash transfer. enhancing coordination and fd- 

“Tbere is an opportunity. . .Yon low-up on paficy matters, 
cannot project us being here forev- “To have the biggest impact, we 


COmWBUTORS 

ROBERT BAILEY is the special reports editor of the London- 
based Middle East Economic Digest 

ANNE CHARNOCK, a journalise based in Britain, specializes in 
technology and development. 


BOX LYONS is a freelance photographer based in Amman. 

JULIAN NUNDY is on the editorial staff of the International 
Herald Tribune. Previously, he covered the Middle East for News- 
week magazine. 

OLFAT TOHAMY is an Egyptian journalist based in Cairo wbo 
writes about Middle Eastern affairs. 


EGB EGYPTIAN GULF BANK 


he said. The minister of planning 
and international cooperation, Ka- 
mal eWSanzouri,' agreed. He said 
that since he has become the top 
Egyptian official directly supervis- 
ing the program, ‘we have begun to 
use the funds more rationally.^ 

Mr. Ganzouri believes that pro- 
jects financed by die aid agency 
should become integrated into 
-Egypt's five-year development 
t&n. He complained that the pro- 
gram represented U.S interests by 
70 percent and Egyptian interests 
by only 30 percent. “1 am trying to 
have it rep re se n t both national in- 
terests." he said. 

U.S assistance for Egypt began 
shortly after the resumption of <£p- 
lomntjc relations between the two 
countries coincided with US-spon- 
sored effora to Uy the groundwork 
for peace between Egypt and Israd 
and took a major boost, after the 
conclusion of the Camp David 
agreements in 1978. 

Following the first agreement, an 
allocation of $250 nuffion was 
made by the United States to help 
rnth a few projects in the Suez 
Canal area, where the three main, 
gaties were almost razed to the 
ground during Egypt’s last wv 
with Israd in 1973. Also included 
in this package was a contribution 
to the removal of war debis that 
blocked the canal during the war 
and prevented navigation. Since 
then, it has broadened its scope and 
increased the number of projects it 
got involved in, bringing the total 
number of projects totally or partly 
fi na nced hy the aid agracy tins year 
to more than 80. 

There cover infrastructure, tele- 
communications, housing, health, 
Adustry, agriculture and finance, 
god indude research and training 
as well as the supply of eqtripmcnL 
The Food for Peace component of 
US aid for Egypt has beeaaregn- 
lar grant through the program, and 
the commodity import program re- 
mains the largest single part of it 


Authorized & Fully Subscribed Capital US$ 20 million 
Paid up capital US$ 15 million 


EGB is a joint venture institution with the object of promoting 

growth and development in Egypt by: 

★ Providing short and medium term credit facilities to finance 
development projects - industrial, agricultural, touristic and 
services in Egypt 

★ Providing convenient means to enhance and finance local 
and international trade transactions. 

★ Manag in g funds on behalf of clients. 

★ The Bank, in rendering its services to its clients, follows the 
most up-to-date technology in banking. 

★ Correspondents all over the world. 


Our services include: 

■ Short and medium term financing 

■ Loan syndications 

■ investment advisory services 

■ Equity investments 

■ Correspondent banking 

1 Letters of credit and guarantee 

■ Bid and performance bonds 

■ Current savings and time 
deposit accounts 

The Chase National Bank - 
committed to service. 


Established in 1975, 

The Chase National Bank combines 
the National Bank of Egypt's 
local experience together with the 
strength of Chase Manhattan Bank's 
global branch network. 


LOANS 


TO TAL ASSETS 787 5 6705 

CUSTOMER DEPOSITS 5833 6£E1 

TOTAL DEPOSITS 641,4 S80 7 

NET WORTH 67.5 8 4 4 

NET PROFIT BEFO RE TAXES 32.5 364 

PROVISION FOB TAXES 13 B IS 8 

NET PROFIT AFTER TAXES 18-7 20.6 

FIGURES ROUNDED TO USS MILLIONS 

The Chase National Bank 
(Egypt) SAE. 


Addresses: Head Office and Main Branch - Cairo Center Bldg.. 

2 Abdd-Kader Hamza St., Garden City, Cairo, Egypt. 
(P.O. Box 50 Magfis Al-Shaab). 

Td: 542390 - 547019 - 552124 
Telex: 93545 UN 23466 UN 23084 UN 

Azbar Islamic Branch - 24 A Beibars St-, Hamza wi - 
Cairo. (P.O. Box At-Ghonriah). Telex: 21297 UN. 

Heliopolis Brandi - 15 AMChafifa AI-Maantonn SL, 

. Hdiopolis - Cairo. (P.O. Box 5042 Hefiopotis West). 
Td: 678914 - 678924 Tdex: 21968 EGUB UN 


Innovative, service oriented 
and responsive, we are active 
in all market segments and deal 
in Egyptian Pounds and most 
major foreign currencies. 


Branch under establishment Alexandria Br. in Alexandria. 
C.Rg.No.215969 ■ ■ 




Page 14 


Friday^ 


NISE 


Closing 


Tobin Include the nationwide prices 
up to the closing on Wall Street 
and do not refleet late trades elsewhere. 


12 Month 
High Law 


Sis. Ont 

ch». vja. pfc «KhHio»UBwQaot.ctm 


(Continued From Page 8) 


S4ft Wt Ml* 4ft» + % 

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19V 13V PocRsol2.ua 116 
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29V* 71V PodKP 132 &JD 

m. 27 va PoctfPf 4.07 117 

43V 25 PalnWb 60 1J 51 

34V 24V PalnW of 125 7 X 

39 27 PalmBc 130 15 IS 

29V 20V. PonABk .70 14 9 

t* 4 PanAm 
M IV PonAwt 
21 13V Pondckn 30 13 21 

41V 31 PanhEC 130 43 10 
7% 3 PanfPr 

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10% 5to PortDrl 
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. 19*4 13*4 PorkPn 
244 IV PatPtrl 
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1044 <V« Peabdv 

■ V Pome 

58*4 41V PmCen 
55V 44*4 Ptrawv 
27*4 20*4 Pa PL 

40 30V PoPLPt 460 116 
39V 30 PoPLBf 460 11.9 
78 Vi 57Su PaPLBl 860 116 
2874 23' ; POPL0PT362 110 
27V 20 PaPL 0pt2-90 114 
71*. Sd'4 PoPLPT B60 113 
rav 22*4 PoPLdpr335 116 
30*. Z5to PnPLdp«X75 126 
96*4 81*6 Pa PL or Him 116 
70*4 S4W PoPLPT BJM 11.9 
72V SHV PoPLPT 830 113 
40 V> 31V Pemvit 230 60 
5BV M'u Penwpl 250 43 
25*4 20 PeflWPl 160 66 
54V 30*. Pmrnof 230 O 

90 72 pwu pta ana 94 

nr* 9V PBQpEn 130 7.1 
64 34*4 PcnBev 60 -9 

60V 39*4 PepsiCo 130 
30V 1714 PerkEI 
10 7*4 Prmlan 


535 33 32V 33 + 

743 41V 41 41*4 +1 

74 27 26V 27 + % 

31 20V 20*4 20V + V 
242 14V 13*4 14V + V 
9654 19V 18*4 19V + V 
238 43V 43*4 4394 + V 
247 24*4 24 V 24V— V 
36 9 8*4 9 

18 184. 18V 18V + V 
91 15V. 15 15 

9 KMS 76V 75V 75*4 + V 
0 729 29V 29 29 

100 32 31*4 32 + % 

865 35*4 34*4 35*4 + *4 
MO 3014 30 304. + V 

12 34V 34V 34V 
7 29V 29V. 2914 — to 
7773 6% 5* 6% + % 

341 3% 214 2V + to 

687 16*4 16V 16>* 

673 37*4 3614 36V — *6 


28 1058 6% 594 6V + V 

4J 15 368 18V 18V 18V 

27 2197 l£Re 994 10 — V 

9 52 12V 11% 12 + *4 

36 392 5*4 5V 5*4 + V 

36 10 1023 31V 31 31V + *4 

56 853 18V 17*- 17*4— V 

4 59 2to 2% 2to + % 

42 13 152 14 V 1414 14*4— V 
S 15 1692 18 17*4 17V 


2.1 23 


2J6 

256 


22V 13*4 PervDr 28 16 15 
44 28 Petrie 160 35 IS 

28V 24*4 PelRs 3.72 b UJ 
17 14 PAIRS Pt 107 96 

7*4 4 Ptrlnv 1.00(256 


212 9*4 9V - ... 

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587 54 52*4 53V— V 

3041 49*4 49 49V 

649 26*4 26V 26*4 + V 
70r 38V 38V 38V— V 
7402 3814 37*4 37*4— IV 
40Z 74V 74V 74V +1V 
10 28V 28*4 28V 
36 25V 25V 2SV + to 
70z 72 71 72 + % 

32 27V 27V 27V— V 
10 30to 301A 30V + V 
60= 94V 94 V 94V —1 
200z 67*4 67*4 67V 
2101 72 70V 71 4- V 

36 36V 36 16V 

I 53V S3V S3V— 3V 
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24 


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68 

100 


SO ’A 29*4 Pfizer 
22% 12V PhelnO 
31 34 P help nr 500 105 

43V 30*1 PhibrS 54 IJ 25 
16*4 9 Phi Id El 2_20 14J 6 

29*1 22 PNIEpf 350 111 

35 25 PhllEpf 460 110 

36 25V PhllE Pt 468 111 

S4V 48 PhllE pf 7-00 117 
67V 50% PhllE Pt 875 115 
11*4 9'i PhllEpf 161 128 
10*4 6V PhllEpf 1J3 126 
10% 6*4 PhllEpf t-28 126 

123 97 Phllpf 17.12 119 

111 87 PhllE pt 1575 117 

73V 51 PhllE Pf 950 129 
60% 44 PhllE Pt 750 111 
60 4314 PhllE Pf 775 111 

23% 15% PhllSub 1-32 67 13 
95V 64% PhllMr 
28 10*4 Philpln 

56% 33*4 PhllPel 
18% 11 V PtilIPwl 
21*4 22*4 PhlPtpf 
2BV 16% PhlfVH 
34*4 23V PMA 1 
34 23% PleNG 

22V 14*4 Pier 1 
56% 34V PJlsbry 
34 21*. Pioneer 

26*4 13V PlonrEI 

44*4 27% PltnvB 

88 SSVi PltnBpf 2.12 
13 9*4 Pirtstn 

15*4 8*4 PkxiRs 

13V 7 Plontrn 

13*t 8% Plavboy 
30% 19V Plesey 
22*4 15*4 Paso Pd 
32% 24% Pakirkl 
2TV 10% Pomfrs 
21V IS PopToI 
19*4 14*4 Partec 
21V I3V PortGE .... .. 

105*4 90 PoGpt 1150 116 
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34*4 28% PorGpf 472 126 
38V 25% Pottteh 156 45 12 
32% 19*4 PotinEI 2.16 68 10 
46 36 PotEI Pt 4.80 9.9 

40 31 PotEI Pt 464 10J 

25V 18*4 Premia J6 15 14 


20V 19V 28 

439 40 39*4 39*4— V 

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101 34 34 34 — V 

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8301 55 55 55 + V 

lSftr 65 65 65 —IV 

192 nv im II + V 
136 10V 10V 10V 
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8001123 122 123 +1V 

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_ 84 22 21 21% + V 

46 11 2714 87V 86V 36*4 + V 
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2425 11V UV UV + V 

8188 23 22% 221k 

16 11 25 24V 24% 24% 

6 10 1133 33V 33V 33V 

6.9 10 11 33% 33V 33% + % 

13 49 21V 21% 21% — V 

881 55V 54% 55V + % 
1402 26V 2 6V 26% + V 
21 14% 14V 14% — % 
418 43V 43W 43V + V 

4 87 85% 87 

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25 19W 19V 19V 

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3247 21% 21V 21V + % 


26 13 
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26 


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.16b 1.9 13 


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60 16 31 
160 37180 
.40 6 25 

J30 4.1 
60 27 65 
1.90 86 8 


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. 45 




12 Month 

HW LOW 


3bk 


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170 

.12 

36 


174 

52 


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26 14 
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17 10 
14 


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13% 7% SdAtl 
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60V 48% Scuff et 
40V 25V 5cottP 
16V UV SCOtty* 

43% 20V SCOwlll 
45 21V 5aoCnt 67 •■! * 

12% 91k SCOCtPt 166 115 

16V 17V SnC PfB2.ll 111 

16V 12V SaoCptClM 176 

27V 14V SeoLnd 51 M 7 

SV 3V SnCo „ „ 

44V 30 Seoorm M 26 12 

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28% 20 Seal Air 60 16 14 

32V 21% SmIPw 1J8 46 B 

65V 40% SaartaG 160 16 <6 

39W 29% Sears 176 47 9 

106V 97 Sears pf 962e «6 
3TV 19 SecPacs 174 43 7 

30 11% SsfaLt . „ „ 

36 Vu 24% SwcCpS 60 1-1 13 
18V UV 5haMse 
25V 11 Shawin 
38% 2BV 5heirr 2J7e 
30% 17% ShelGki JO ... _ 

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38% 25% SI fitter 60 1.1 



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^v 

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83 25% 24V HV + V 
316 25% 24% 25% — % 
273 M% 34V 3i% ± % 


U.S. Auto Sales 
Gained Sharply 
For Early June 


jVrx for A Times Semcr 

DETROIT — Sales of new automobiles 
showed surprising strength in early June, de- 
37 W vv m + v spite a lade of manufaaurers’ incentive pro- 
ot'w^'Sv ȣ- v grams and a gradual softening in consumer 
2 sa asv m* SS-w confidence. Domestic car makers said sales rose 
72 56 32 im 13 V ra% % 153 percem in the first 10 days of the month. 
J 7. 47 a 5 W MV ^ % Sales of light trucks increased sharply, by 
jo M .4 b 36 % 24% mv . 35 pereen^ from the same time last year. 

There were eight selling days in the period this 


499 38V 38% 3Wk + V 
250 6 V 6 % 4% — % 

7 12% 12% 12% 

86 a 305 ia% ij 18 % + v yea,- and tact, 

25 16 3754 41V «V 40V— 1 I J 
24 61V StH 61V +1% 

517 35% 34% 35V + V 


_ 31% 31% 31% — V 

"J-JSS&k J3v + % 

. 392 9 % 9% 9V— V 

" " ,7 ?2 ^ |v S- V 1 31.475 a day. 

19 39% 39V 39% — V I _ 


The manufaaurers sold a total of 216,565 
new cars in the period at a daily rate of 27,071. 
It was the highest daily rate for the first 10 days 
of June since 1978, when airs sold at a rate of 


32% 26% Slnyr pf 3JO 115 
18 12% SkvUra 60 37 19 

26% 20*6 Skrttorv JHU11 
19V 9% Smlttiln 72 36 

TOW 50V Smkfi 260 4.1 
67V » Smuckr 160 17 17 

Sv it* iSnS?" i65 IS ’? i3o 3 m £v S% + % The Conunerce Department said the season- 

»% OTtfooiSf i3S*K Si 1 o d 1 * wi ™ ally adjusted annual selling rate was 7.9 million 

S* fT 4 KS i Im m% 2 tv + vS units. However, a number of auto analysts, 

23 11 srccppf 260 107 j g ^ + v manufacturers and officials in other govern- 

ju 4 i 4 i *T“— % ment departments, who use their own adjust- 
'm 3 i*« aiv_ v ment factors, said that was artificially low and 

j 27 m 2 iv 21 % 2 iv + v* should be closer to 8.6 million, 
a m 2 sv 25 . 25v— % Acxording to the Commerce Department, the 


23V 30 SCrEpf 260 106 

29V 22 5oJerln 268 06 11 

49V 41V 5ou«h«n 160 26 10 

32V 22 SocfBk 150 36 10 

10V 5V Soot PS 2.131316 40 
Z7% 18% SCalE 1 264 76 » 

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25% 17 SalnQ** 160 75 _ — , , 

43% 29 SNETI 272 66 II 4873 43V 42V 43M + % 

38% 31V SoNEPt 362 97 I 38V »k J» 

25V 21V SoRvpf 260 106 2 25% »% H« . + V 

31 23 SoUnCo 172 5.9 37 29W. 29% 29% + V 

36 23 Bauttnd 160 27 11 1639 34V 34 % 34V + V 

16V 11% So Roy .12 7 18 346 13 13% 12%— V 

BW. 6 % Soumrk 50 27 5 213 7 *% 6 V , 

53 47 Samkpf 760ol47 ID 50 49V 50 + V 

27V 14% SwAIrl .13 J 18 1 UH 27% 26*6 27 

- — * — 31 343 14W 13V 14V + V 

154 75 7 126 16V 16% 16V + V 

660 76 8 1075 79% 78V 79% 

52 17 11 207 26V 26V 26% 

168 75 9 B6& 23% 24% 25V + V 

52 46325 115 13V 12V 13 + V 

159 16V 15% 15V + % 
172 36 11 17508 56 5«V 55% — % 

152 47 * 40 32V 32% 32%— V 

154 46 11 934 40V 39V 40V + % 

176 27 16 ‘ “ " 

60 17 18 
56 25 12 
J2 27 10 
260 5.9 8 
SI 

11 

52 37 9 

76 35 12 
168 35 18 
150QU5 
.12 35 
~ 37 10 

75 9 


76 

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20V U% SwtFor 
17% 10W SwtGas 
82V 55W SoBell 
29 19% SwEnr 

34V 17V SwtPS 
17V 11V Spartan 
27% 15V SpacfP 
59 33% Sperry 

38 SOV SprhHH 
43% 31V SauarD 
64V 41 Squibb 
24*8 17% 5 fa ley 
21 V 16V SIBPnt 
20*k 11 StMotr 

50% 39V SktOOh 

77% 73% SOOflPt 375 
21 7V» StPocC* 

16% UV Stondsx 52 
31 19V SlanWk 

35V 23% SlarreK 

11 8 % StaMSO 

3V 2V ShMOP 

20 % 14% Sterctrt 
UW 9V StrlBcp 
SlrBcrf 
34% 24 SterlDB 

21 % 15% 5 tovnJ 
34 27 SlwWm 168 

12 BV SVVCPf 160 
45% 32V Stonew 160 

39 24 SToneC 60 
53V 36V SfOp5hP 1.10 
21 % 15V StarEq 154 
12W Z wIStorT 
79V 36V Stoner 60 
21 V 18V SlrtMtn 60< 
18% 14W SfrURI 60 
7W 3V SuavSh 

40V 23V SunBta 
39 2 SV SunCh 
14 6 % SUhEI 

52W 43V SunOS 

109 90% SunCpt 275 

49V 34% sumfetr 150 
12*8 TVS SunMn 
38% 26 SUPTVI 
47% 27% SupMM 
17% 14 Swank 
21V 16% Srbron 
15% 11 V 5ymsCP 
65 39V Syntex 

38% 27V Sysco 


891 61V 60% 61V + V 
269 21V 21% 21V + % 
96 22% 22% 22% — % 
140 11*8 11V ITV + V 
890 47% 46V 47% +1% 
20x 73% 73% 73% 

140 20% 20*8 20V + % 
36 13% 13V 13V— % 
540 30% 29% 38% + V 
23 32% 31% 32% + V 


seasonally' adjusted annual selling rate for June 
1-10, 1984, was 7.8 million. 

“These were exciting numbers,’' said Ann C. 
Knight, wbo follows the industry for Paine 
Webber. “It’s very difficult to measure how 
much excessive demand incentive programs 
have created, but it doesn't look like they have 
borrowed a whole lot from the future. In my 
heart of hearts, I was expecting sales to flop — 
but they sure didn't flop." 

Most of the companies were offering financ- 
ing below market rates through April, but most 
programs expired at the end of May. 

American Motors Corp., however, whose 
share of the domestic market has dwindled as 
sales of subcompacts slowed in the past year. 


44 'S5 'av ’Sw + * j announced Thursday a cash-rebate program 
that will go through the end of July. Customers 


19% 19V 19V i- V 
10% 10V 10%— V 


150 

150 


37 13 
63 11 
66 16 
87 

37 8 
16 9 




150 


36 14 
15 11 


250 


68 

68 

70 

168 


1.92 

56 


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13 

66 12 
64 
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58 16 
S3 II 
21 


31 
37 

28V 31% 31 31V— V 

120 19 18V 19 + V 

ID 27% 27% 27V 
2002 11 % 11 % 11 % 

30 41% 41V 41V 
310 2t% 24% 24% + V 
202 48% 48 48% + % 

180 21V 20% 20V + % 
633 2V 2*8 2% — V 

1457 75% 75V 75V 
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541 17 16V 16% + V 

66 5V 5*8 5W 
716 40% 39% 39% — V 
14 37% 37% 37*8— V 
304 10% -9V 10V— V 
360 49 48 48V + V 


can receive up to S595.The company said the 
idea was to pay for 10,000 miles of gasoline, 
based on fuel ratings by the Environmental 
Protection Agency, but the company will give 
the buyer a check at the time of purchase. 

General Motora Corp. said car sales rose 16.6 
percent, from the same time last year, on deliv- 
eries of 129,594 units. Light truck sales soared 
4S.2 percent, to 40.815. 

m ^ ^ T Sales of new cars by Ford were up 14.4 
402 S* 2v 3* + v P5 rcent ’ widi 52,846 deliveries by dealers. 
ms 7 v 7 v 7 v + v I Light-truck sales jumped 24.6 percent, to 
30,899. 

Chrysler Corp. reported the largest increase 


676 36V 35V 36V 4- V 

334 45% 43% 44V— 1 

11 15V 15V 15V 

72 19 1BV 19 + V 


ii *s msS m* in 9“ among the domestics: Its 28.184 

ij il xb s% 3<% 34v— % sales were 20.7 percent higher than last year. 


50% 34V TDK 
33% 24 TECO 
12V 7*8 TGIF 
19 11V TNP ITS 

25% 17 TRE 160 
81 V 58V TRW 340 
177% 138 TRW pf 460 
150 110 TRW pr 460 
8*4 298 TocBoof 

77*8 52V TaffBTd 1.12 16 14 
19V 12V Tolley ,10e A 14 
21 V 15 ToUbypf IJ® 5M 


1 Truck sales were also strong, up 43 percent, to 
15,215 units. 

American Motors estimated that car sales fell 


Me 3 It 3 37V 37V 37V— V 

266 7.1 9 382 33% 32% 33% + % 

15 *» 10% WV 10%— V 
47 9 34 18% 18 IBM 

454 rat nv +i” Jeep sales dipped 12-5 percent, to 3,150. 

? lam mv in* + 2 % The American Honda Motor Co. said sales 
is? 7 j% n* 73 v- v 34.1 percent, to 1,845 units. Honda is ex- 

174 20 % 19 % 2 M + % panding its Ohio production plant and the con- 


37 17 
40 11 
23 
33 


v 27.4 percent in the period, to 2,360 units, and 
k +i Jeep sales dipped 115 p 


iih «3 iHimrpr i-w aw 171 jshi few jsm t 81 • - “ ■ I , 1 - 

77 49 % Tambm 120 4JU i73 73 % 73v 73 % + % I struction delayed delivery. 


35% 23% Tandy 
1$V 12* TraJvcM 


15 2009 32*8 32*8 32% + V 


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|3 1521 16V 16V 16V + % 


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»% 11 % primac :: .. . 

32% 13V PrlmM i M 6 27 243 30V 30 30V— V 

59* 49V PracfG 260 47 13 1563 53V 52% 53*8 + % 

I4V 7% PrdRsb 62 2.1 20 206 15*k IS 15 — V 

47% 31% P rotor 160 36 9 44 38% 36% 36%— IV 

23 16* PSvCal 270 87 9 477 23V 22* 23 + % 


178 117 
7.15 156 
964 156 
852 156 
1168 156 


SOV 16% PSCol pf 2.10 106 
9V 6* PSInd 170 127 
8 4V P5ln pf 
47V 37 PSInpf 
63V 50 PSIn of 
57 44V PSInpf 

55V 43V PSInpf 
5*8 3V PSvNH 
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15V 9 PNHpfE 
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14 7* PNHpfG 

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31V 21 PSvEG 274 9.1 
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2BV PSEG Pf 4.18 11.1 
47V 33V PSEG pt 575 11.1 
20*8 15 PSEGpf 117 11.1 
22V 16V PSEG Pi 263 116 
69V 55 PSEG pf 878 115 
68 51 PSEG Pf 760 11.1 

4V 2*8 PuWk* 

13V 9V Pueblo .16 16 
W» 6 PR Com 
15*8 9% PuboJP 176 115 
21% 10* PuiteHm .12 7 

35% 22% Pv ratal 168 47 
10% SV Pyni 


16 20V 20V 20V- * 
763 7H TV 7* + V 
7% 7V + V 
47 47 —V 

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16V 16V 16V + V 


110Z 7* 
30£ 47 
440X62 

21 Qz 56 

1300X55 
1429 4V 
1000 x 11 
59 
23 
35 


14V 14% 


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19 13 12% 13 + % 

30 13V 13% 13V + V 
1440 27% 27 27V + V 

1992 31V 31V 31% + V 

4 13V 11 13V + V 

570X 37 36 36% 

650* 38V 37V 37V 
300* 45V 45V 45V— 1* 

5 19V 19V 19V— V 

16 21V 21 21V + V 

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llffltt MV 44V 64V +1V 
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6 4*8 6*8 5*8 

618 15V 15 15% 

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224 26% 26% 36V + V 
241 8 71k I 


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11% 6V Ouancx 19 29 7% 7V 7V— V 

34V 23 Oueitcr 150 51 10 78 31V 31% 31V 

25% 14 QkR*11 64a 16 15 229 20V 20V 20V + % 


M 47 


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46* 29% RCA 
39V 29 RCA pf 
104% 71 RCA pi 
34 24V RCA pi 

37V 29% RCAPf 
9* 6% RLC 

4V 3 RPC 

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11*8 7 Roalce 

44V 25* RalsPur 170 

8% 5V8 Ramod 
21% 14V Ronco 
TV 2V RanarO 
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467 9V «V «V 
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51 2SV 24V 24V + % 


5% 2V Tefcom 
302V 205 TeMyn 
24 I3W Tel rate 
48% 22V Telex 
39V 25» Templn 
45% 32VTWMCO 
83 66 Ttnepr 

35% 30 Terdyn 
18V ftTatni 


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38% 31 V TxABc 
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102 

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200 

63 

8 



Volkswagen of America said sales of its do- 
mestically produced cars rose 18.7 percent, to 


43 v £* + v [ ed States a few months ago. does not report 
sales on a 10-day basis. But industry analysts 
estimated that company's car sales at 750 units 


21V 22 +1 
9V TV + to 


34V 25 Tex I ml 
147% 86% Tex I rat 678 
3V 1 Texint 
26V 15V TexOGs .18 
39 28% TxPoc M 

29V 20% TaxUtfl 262 
5 2 Texfl In 

52V 26V Textnm 1J0 
sm 28% Textrpf MB 
10V Ito Thack 
27 14V TTtemiE 

43% 2816 ThmBt* 1J6 _ 
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25V 13% TkmMcd A0 £5 


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2.1 9 


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i?^7 


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842 94% W% MV +3* 
981 2V 2V 2V + Vk 
3648 17 IftV 17 +V 

2 $ %£$£%£ + % 

M 50% 49% 30% tv 


12 Month 
Kloh Low 


Stock 


Sis: 

Ptv. Yid. PE lOmHVh Law 


rv— 

Qvot.Qfge 


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U 9V 9V 
31 25V — - 
301 35% 

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20 15V UtPLof 274 115 

3«Ji 15V UtlllCO 1626 5LA 
MV 18% UtilCanr 261 11.1 
35 29% UHlCopf 4L12 120 


8 22 % 22 % 22 % + V 

2 19V 19V 19 V + % 

11 24 23V 23V— V 

2 23V 23V 23V 

36 34V 33V 34V 


Season Seem 

HWl LOW 


WHEAT coin 

54XBEU minimum- aofior* per biatMl 

190 117A Jul U2 368V 125% 165% — ,00% 

1»W 3.15 Sep 129* 131 138* 129 - 

163V XU Dec 137 237% 335% 116 — WW 

3.7414 127% MOT 136% 137% 3JS% 3J5% — JW7 

472 lift May 126% 120 196 166 — 7PV 

172V ITS Jul 378V MBV 108 178 —70V 

En.Saies Ptw.Salee 12615 

PTev.DavOaenUH. 397*6 up 321 
CORN (COT} 

5700 bu mbu imm-aeiiar> per DuUMi __ 

331 232 Jot 268* 2JT 267 277* — Ol* 

131V 258% Sep 26354 242* 240 ■ 240* —72% 

195 251 Dec 256V 256* 2 5«S 2*04 —33V. 

Xio 240 Mar 266 146 243* 253V —73 

161% 2ft*V 248 248 25*V 244* — 72* 

7 ID 254V Jai 248 251 357 244W — 73* 

256V 251% Sea 254 254 259* 251V — 73 Vs 

Est.SMes Prev.Sam 20.194 

Prev. Day Open htf.102414 w>576 
SOYBEANS (0871 

5J00bamlTilaiem-coHpr»P«rP ra hel 

7.99 556V Ad 573 564 5J0V SWk 

756 553V Aug 554 555 S3* SJ5* 

661 546V Sew 566 577 S56V 557* —79 

458 54V? hS, SM 579V SM UW -79% 

469 558* Jon 5B7W 578V 578 579V —79 

752 SIS M or 598V 598V 5J8 5BJ —79% 

769 567 May 676 A04 SMVi 567 —79 

658 572 Jul 504 67S 672V 672V —79 

Esl- Sales Prev. Sales 3IJ19 

Prev. Day Open tot. 67527 up 374 
SOYBEAN MEAL(CBT) 

100 tops- dallan Derma 
18650 U740 Jul 12580 B770 I23J0 IZ15B —760 

18070 UU 0 Aug 129 JO 12950 128.10 126J0 —US 

mss 12140 sea ui50 imjo uxra iwo — iao 

18050 12650 Od U570 0500 I3U» 13150 — -80 

18400 13150 Dec 13860 t»JH 13470 13830 —160 

16370 13450 Job 14 UW 14150 13850 13*50 —140 

29650 199.10 Mer 14550 I45S0 14258 14150 —170 

16250 14378 MOW 19070 19050 14870 M&flO —170 

16770 14760 Jul 15250 U25a 15290 15370 +J0 

E5L Soles Prev. Sates 9^8 

Prey, pav Often Inf. 505J1 eft 197 


-US 


458 443 



COPTCE CfKYC9Cei 
37500 IW..cn>MPWl% 

14940 12170 Jul 147 JO M7J1 146J0 MftH — *76 

15060 12770 SOP 14940 MT50 14850 14BJ9 — l.M 

150.40 12*69 Dec 14940 U97S 1*9.10 I4XM — 

14961 12850 MOT 14050 M85S 14840 14850 —60 

MOJO 13188 May M76S U7JS 14763 14750 —50 

M750 13*73 _S*P 14565 — 

Esk Sales Prev. Sales *863 

Prev. Oav Open In*. 13580 g«91 
SUGAR WORLD lionraci) 

1 12700 UM.<cent9Per b 

9.99 263 Jul 070 170 269 

9.75 1» Set IN IM Iffi 

97S 1H Od 111 360 XU 

763 263 Jan 349 350 348 

9J3 X74 Mar 187 X93 373 

7.15 196 May 47* *12 474 

64* 4.13 JUI 4J0 4J4 4J5 

6J0 46* MP 

_ 4.96 443 Od 647 Ai 

Eai. Soles Prev. Sates 12450 

Prev. Day Open In*. 92378 of* 17*4 
COCOA {NYCSCRJ 
10 metric tons. Soar tan 

MO 1990 Jul 2045 

3 *n wn sea son an 

EOT IMS Dec 1908 19*4 

IS 

3130 I960 May 

_ 2110 I960 Jut 2040 2048 

Est soles Prev. Soles 7X9 

Prev. Day Open InL 21442 up* 13 
ORANGE JUICBOTYCO 
19700 IBs.- cents oer la. 

184 15 13870 Jul 14450 W450 14X80 M3J0 

182JW n*J0 Sep MUD 14165 14060 1A90 

18170 13*70 Now 139 JO 139 JO 13160 139.10 

noun 13*70 jan 13769 i3 XK wjs «xw 

17750 13*70 Star 138J0 13230 13750 138.17 

16250 13*60 May 13217 

15750 14220 Jul 13210 

MUD 17963 Sep 13210 

Nov 13217 

EsL Sates Prev. Sales 432 

Prev. Den- open ML £881 aff4 


EN. Sales " ' Ptiw.SalM 306 

Prey: Dev Open ML *4*9 oft Ml 
, EURODOUAinfiMW 

SI minioo+raa* woeci. 

927* 0249 J«l 92» 

923* *453 Sep «70 92M 

9172 8470 Dec 91A8 U.J7 

9142 UM l*V 9W3 Jim 

9tJ» 866J JIM 90AI *063 

9061 HUB Stop 9U3 «» 

«S «MS Dec W »61 

. 9057 8744 MW *073 9U4 

: Esc Sales PiWto jotM 3 0J B1 

Prev. Day Oaten IM. 122431 off UBS 


j; 


9121 9145 

7170 922ft 
9148 91.7ft 

9171 9153 
HUI *863 


+5 

+41 

ZS 

+44 


20*9 2080 30M —17 




3013 

2030 


43 

+3 

+13 


BRITISH POUNOflMMI 

1 Suer pgnwahipotweepal* 80.0001 . 

UM 17239 JIM J6»2 IK 

1.4A50 >6200 sea 16*5 Uf *0 16*2 UjH 

16800 17300 Dec 16*80 I6S30 1J4E1 J-2530 

uooo 17*80 Mar 

16305 1.1*05 JIM 

Cst So les Prev, 3 d ee ILig 

Prev. DayOnen lot 4S40S vpft*3 


16680 

16430 


6317 

i£ 


,7300 

6310 

.7221 


6274 


-60 


Metols 


CAMAOIAM DOLLAR M 
s nee dir- lPoMeaMM 977001 
JW MM Jun .rag 

6385 6039 S«P -72*7 

69*6 600* Dec 63*3 

630* jm Mar 6225 62 

6330 6BJ0 Jim 

Est.Sate* _ Pnrw. Sales 1403 

Prev. DevOaen hit 10J60 up 31 
FRENCH FRANC CIMM1 
Sperfeane-legtefeg u nttBUWOBi 
.11030 7*618 Jun .17*15 .10700 .10*30 .WOO 

.10*40 79680 Sep . 10*10 -MU0 .T06M -JJ** 

.10619 79*78 DOC .10330 .MSSO .MS30 .10360 

Est.S^e* Prw.Wn „ « 

Prev. Day Open ins. *93 otO 

GERMAN MARK (IMMI 
Spertfmrtpl pofnt equate 307001 

■2S iS2 -S3 -S? -SS S5 

, . 6930 Sen W 63*7 JM* Jal 

6610 6971 Dec 6BS All ^ |g| 


*8# 

tst 


6231 402 


63M +M 


SOYBEAN OlLCCSn 
60700105- dollars per 100 lbs. 


COPPER ICOMEZa 
2X000 lbs.- cents Per to. 


.6415. 


JD40 Mar 6325 6325 


UR 


- ****** 


■tn* 


lOpeniM. 49524 UP 33* 





3000 

3008 

3050 

3061 


3L9S 

2250 


39X8 

2900 

29 JO 

29X7 

— XJ 

31.10 

2250 

Seo 

3062 

2B05 

2067 

3SXS 

— XJ 

3007 

22.90 

Od 

2760 

2760 

27X0 

27X5 


2955 

225D 

Dec 

3600 

2X95 

2X53 

2X63 

—00 

2907 

2340 


36X5 

26X5 

7605 

2X10 

— JB 

2X60 

2X40 

Mar 

2*55 

2X55 

as 

7530 

—M 

27X5 

2400 

May 

2X55 

2X53 

21X0 

2X52 

—36 

2505 

2X15 

2305 

2X70 

Jul 

Aug 

2500 

2500 

3405 

2X95 

2X75 

—.15 

-00 


3950 

8260 

B46S 

8460 


Jun 

Jul 

APB 


ftftftS 6080 6035 


9950 

9950 

41.19 

6150 

8ZJ0 


4150 

6350 


4L63 

(ip 


EsL Sales Prev. Sates 14521 

Prev. Day Open Hit. 6X&C2 ueL333 


QATS(CBT) 

SOM t>v mtnlnvjm- OcUarS S _ . 

168V 147% Jul 154 154 157V 152V 

169 147V Sea 150 150'- 14*% 14e%. — jn% 

172V 152V Dec 154V 154V 153 153 — JB 

157% 157V Mar 157% 157% 157% 157 

143 140 May 15 BV 

Esi. Sales Prev.Sates 278 

Prev. Dav Open Int. 2.990 up 66 


6029 
9770 
59 JO 
S7J0 

Dec 
Jan 

Mar 6370 4365 

74-00 
7440 
7070 
7030 
3060 
4750 

EsL Safes Prev.Sates 8487 

Prev. Dav Often InL 8X307 off 54 
ALUMINUM (COM8X> 

4X000 ib&-cems per lb. 


*uo 

*240 


6050 

4060 

4L1S 

4140 

*245 


4370 


J«l 4470 6470 


6*70 Dec 


63J0 

64JN 


6X30 

6170 

6460 

4455 

45.15 


6569 


+69 

+JS 

+JS 

■K3S 

+65 

+65 

+65 

+65 

+69 

+65 

+65 

+65 

+69 


|J ""“WKS5 flU 


I Joorven- 
■ COM80H 
004H0 


« sss 


Junjsssal279®as 70400 70*0% 4* 

sssss +1 

Mar 704083 524083 704013 JUMOOa +D 
, Est. Sales rtw.Mn IUU 

Prsv.Ooy Oden Ml. 3MJ4 ON MOB , t 

SW189 FRANC tlMMl ■ .« 

» per franc- lpotoiequois 807001 : 

4900 6439 Jun JRO JW7 J864 j*«* J* 


6 MB Sea 6097 JIO J8*8 


6331 Dec 6920 6949 

JB33 Mar 

Est Sates Prev.Sates lie? 

Prev, Dav Often InL 37427 on 23 


J920 JM0 


6972 


+57 

+90 


Livestock 


CATTLE fCME) 

40700 tos.- cents per tb 


*9 JO 

58X2 

Jun 

6005 

60X0 

59X2 

60.12 

—05 

6747 

60X5 

Aug 

6225 

6305 

4107 

6327 

+.12 

*500 

60.10 

Od 


6200 

6205 

4X72 

+X0 

6705 

6100 

Dec 


6305 

flM 

6302 

+02 

*7X5 

62.10 

Feb 

4405 

64X5 

*405 

+4X5 

+25 

6707 

6425 

6300 

6505 

Apr 

Jun 

6505 

61X5 

*50* 

45X5 

6505 

+25 

+25 

Est. Sales 

Prev. Sales 9044 




4905 

59X0 

4605 

45JD0 

Jan 

JU 

AU9 

S4» 

4520 

4520 

45.10 


+.10 

+.10 

+.10 

+.» 

7400 

4535 

4505 

4505 

4500 

7060 

4600 

Dec 

4600 

4605 

4*00 

4700 

+.W 

7600 

7300 

5105 

4X70 

Jan 

Mar 

4700 

4700 

4700 

pa 

+.10 

+.M 

6X75 

63X5 

SLID 

5305 

5400 

5100 

May 

Jul 

Sop 

Dec 

Jan 

Mar 



+.10 

-KW 

+10 

+.10 

+.10 

+.10 

EsL Sales ! 

Prev.Sates 

361 




industrials 


LUMBER (CMS) 

l uiMn M k .iNGFimihrfft 

SS BUI Jd 1030 U260 14740 15140 +» 

Seo U2J0 15470 M9J0 15160 +3S 

Mov UUH 1SSRB 15160 13350 +M0 
Jan U8J0 MOOD 13770 16029 +59 
Mar 1*670 16640 16X50 1*540 +3J0 
May 1*740 17X10 16740 17010 +470 
Jd 17X30 17970 17970 17970 +XGt 


‘it 


13950 
137 JB 


SILVER (COMEXI 
5700 trov or^ cents Per troy ax 


19760 
186.10 

18770 ^ 

195.00 13000 

17640 19370 

15370 17X40 _ . 

Ear. Soles Prev. Sole* <619 

Prev. oov Open lid. KLS70 oH3S 
COTTON 2(NYCn 
50700104^ cents per to. 


6625 

14617 


SM7 

5637 


Prev. Day open ML 48674 off 334 


FEEDER CATTLE (CME) 
44700 an.- cents per to. 


7370 

6X47 


6705 

4825 

*702 

6X00 

+20 

7100 

6X60 


*705 

6800 

67X5 

6700 

+25 

7202 

6425 

Oct 

*705 

6705 

*725 

6705 


7120 

6525 

Nov 

68X0 

6805 

Ali^l 

6X72 

+00 

7900 

6*00 

Jan 

7X00 

70.75 

7X00 

70.15 

— XB 

7X55 

6X10 

Mar 

7X20 

7025 

7X39 

7X25 


7X65 7000 Apt 70.15 

EsL Sales Prev.Sates 

Prev. Day Open id. 8799 off « 

7X30 

TOO 

7X15 

7X30 

— 05 


5737 

5907 

SPSL0 

6077 

6217 

A~K n 

6417 

6677 

7876 

7047 


Jim 

Jul 

Am 

8ei> 


62*5 

<277 


4245 

iwn 


4.14 ft 

<317 


Jan 


4377 

*486 


4617 

M37 


6307 

6437 


Mer <6ftD 6627 4547 


6767 6767 6767 


Jul 
Sep 

Dec 7047 7047 7047 

Jan 

Mar 

Prev.Salea 9.143 


6465 
4507 
*387 
6675 
6767 
64*7 
7017 
707.4 
71 BJ 


HOGS (CME1 
30000 to*.- cents per lb. 


55X0 

4X40 

Jon 

4700 

4X35 

4705 

4X25 

+53 

5537 

4705 

jui 

5X05 

5000 

4905 

5000 

+78 

SX37 

<723 


SOBS 

SO05 

4900 

9X35 

+00 

5175 

4540 

Od 

47.10 

4725 

4670 

47.10 

+.11 

5005 

4X30 

Doc 

4825 

4X07 

4820 

4X50 

+78 

5X32 

4*25 

Feb 

5X00 

5X30 

4908 

5X12 

+.12 

4705 

4X50 


4X60 

4*70 

4X50 

4X65 

+.15 

4905 

4*00 

Jun 

4870 

4X90 

4870 

4X90 

+.11 

4975 *735 Jul 4900 4900 

Est. Sales Prev.Sates HO* 

Prev. DavOpen int. 22099 up 225 

49X0 

4900 

+.10 


PORK BELLIES <CME1 
30000 1 be- cents per 0*. 


83X7 

61.12 

Jul 

*700 

6X50 

6670 

6X10 

+135 

8005 

6020 


6720 

6700 

6X15 

6725 

+03 

7X20 

61.15 

Feb 

7X90 

7X00 

7125 

74X3 

+00 


+*oa 

Mar 

7306 

7X50 

7300 

7X30 

+00 

7500 

7X10 


7500 

7500 

7500 

7S.U 

+1.15 

7600 6970 

ESI. Sales 

Jul 74X0 7300 

Prev.Sates 6267 

74X0 

7500 

+00 


Prey. DavOpen Int. 11787 us340 


| Currency Options 


425.1 
6Z77 

4306 

11837 — - - — - - 

12307 
12157 
11917 
10400 
9437 
9407 
7997 
7897 
7707 

Est. Sales ... 

Prev. Day Open lift 77738 off 330 
PLATINUM (NY MB} 

5Dirov ax- autan per Iray <K. 

2B770 S170 Jun 26970 

64958 2*170 Jut 26370 27178 26SJ0 27070 

37370 25870 Od 272JU 33S50 mm 27&30 

37360 26070 Jan 27760 27950 27770 280J0 

32960 27560 Apr 28150 28470 28150 28SJ0 

Est. Sates Prev.Sates 1710 

Prev. Day Open Inf. IL7B2 off Ml 
PALLAOI UM (NYMEJ 
100 tray az- dot tors Per a 

19950 94JXI Jun 98J5 9*50 9870 *875 

14175 9360 Sep 9875 9975 9750 *875 

14160 9X00 Dec 9£*n 9950 9X8S 

12750 9*50 Mar 9878 9950 9870 9B7S 

11470 *470 Jun 9950 VfM 9950 99.10 

Est. Sates Prev.Sates 117 

Prev. DavOpen fnf. 6799 aH 65 , 

GOLD (COMEXI 

M0 troy ox.- dollars per trov az. 

51070 28770 Jun 31850 32170 317 JO 319.10 

Jul 32050 

Alia 32250 3M50 31970 22ZJK1 

Od 32350 32870 32350 32550 

Dec 33150 33250 32750 329 JO 

Feb 33S70 33680 33250 333J0 

Apr 33970 33970 33870 337 JO 

Jun 34150 

Aug 34770 34770 34150 34670 

Od 35150 

Dec 356^3 

Apr 37270 37270 37170 343.10 

Prev. Sales 104*7 


+8.1 
+87 
+7.9 
+77 
+75 
+7 A 
+7J 
+7.1 
+67 
+45 
+43 
+47 
+4.1 


7905 

6000 

Jul 

«U3 

6105 

<204 

69.97 

-2* 

7700 

inn 

Oct 

6105 

tun 

6UW 

6I0S 

—0B 

7300 

6X48 

Dec 

61.90 

6100 

<125 

<103 

— v4B 

7X75 

61X0 

Mar 

6205 

■3.95 

*225 

<203 

—Jft 

7X00 

6106 


63.15 

6115 

6375 

6309 

-oa 

7005 

6205 

JtH 

*1.10 

•110 

Cl IK 

6205 

—AS 

*500 

5900 

Od 

6X40 

6X40 

5X75 

5*03 




Oec 

SUM 

3925 

SUM 

5100 


EsL Sates 

■rw. Salem 10*7 



,1‘ 


Prev. Oav Open im. 1X577 off 222 
KEATING OIL l NY MO) 


+7.10 

+7.10 

+7JM 

+770 

+770 


42000 Bd- coots Per od 
7S2D 6X35 Jul 

69J0 

<9X0 

I7H <700 

njo 

6*00 



6X30 

■70S *723 

7*05 

67.10 

Sea 

6900 

69 JR 

<700 6100 
6800 4X60 

77.10 

6700 

Oct 

6X00 

<900 

7405 

6X00 

Nov 

60.90 

<9.90 

<900 6925 
7X40 7X25 

7X25 

6900 

Dec 

7X50 

7000 

7X90 

7300 

rum 

7400 

7X75 

7175 

7100 

7400 

JOB 

Fab 

Mar 

Apr 

Jun 

20 

20 

7X95 

7125 

7005 

6005 

20 20 

Est. sates 

Prev.Sates 5J14 





=# - 


+275 

+255 

4255 

+255 

+255 


Prev. Day Open hit 20281 up 2*9 
CRUDE OILMYMU 
1700 bbL-doilara per ML 


32850 
40S70 
49970 
48960 
48550 
49470 
43570 
f 42840 
39630 
39370 
I «1M ■ 
[ EsL Sates 


31350 

29170 

29770 

30150 

30670 

3100 

32850 

33170 

33S70 

3*278 , 

34270 


+4J0 

*430 

+440 

4450 

+4J0 

+4.10 

+*70 

+950 

+350 

+£n 

+xra 

+3J0 


2904 

3X10 

Jul 

2700 

2700 

2720 

2721 


2907 

2425 

AW 

3X56 

2X60 

2X11 

1X32 

-JB- 

2900 

2400 

Sep 

3X12 

3X15 

3504 

2X73 

-Jtt 

3900 

MAS 

Od 

3508 

■35100 

25X0 

2500 

—30. 

2900 

34X0 

Nav 

3503 

2505 

7536 

2527 

—26. 

2900 

2190 

Dec 

25X5 

25X5 

2X10 

3X10 

-— >3JY 

2900 

2425 

Jan 

2X25 

2SL2S 

2X05 

2X10 

— J? 

29X6 

3*05 

Fefl 

2520 

2520 

7430 

34JO 

—J5r 

29X5 

3400 

Mar 

3X95 

2X95 

2400 

2*05 

—Mb 

29X5 3402 

Est. Sales _ . 

Apr 34.90 2*02 
Prev.Sates 14754 

2X90 

2X92 



Stock Indexes 


PHILADELPHIA EXCHANGE 
Option B Strike 
Undertvlna Price cans— Last 

Jan Sep Dec 
12580 BrifMt Pwindpaanti per unit. 


June I* 


Prev. Doy Open InL 124744 up 492 


Pots— Last 
Jun Sen Dec 


Financial 


50 25 14 
50 41 


170 


1-36 

UM 


17 17 
IS 

25 15 
37 15 


22* 14% Thrifty 
2*9k IS TJdwtr 
10 W 5*k Ttgerln 
60% 33% Time 
23% 12 TlmplK 
53V 34% TlmeM 
58V 47 Timken 
9% 4% Titan 
IBV 7% TMcnpt 170 9.9 
39V 26% TodSIta 1 32 45 7 
21 % 14% Takfuns 58 27 9 
IBJfc 13% Tel Edls 252 1X7 5 
.27% 34% TolEdpf X72 119 
28% 22 TalEd Pf X75 137 
24% 20 TolEdpf 357 117 
31% 25V TolEdpf 478 135 
18V 14 TolEdpf 276 137 
18% 13V TolEdpf 221 1X3 
45% 13% Tonka i 20 5 7 

53% 27% TootRoi 58b 17 14 
52% 30V. Trcflmk 170 23 13 
I7to 10 TaroCa 50 ZS 9 
J% 1 TOSCO 
19% 8% Towle 
40% 25% ToyRUs 29 

28% 17V Truer » J2 12 
20% 7% TWA 7? 

15% 11% TWA erf 325 152 
30% 17V TWAPfB225 75 
31% 20% Transm 154 57 U 
21% 14% Trent lac 222 ML4 
12V 10% TARIty 170 87 15 
2 ito 19% TrnCdanl.12 55 I 
57% 38% Transco 2.14b 45 10 
66 V 45% Tmtc pf X87 63 
25% 19V Tran Ex 266 105 
13to 4V Trcnmcn 5 

103 m TrGnl 1863 185 
96 77 TrGPpf 844 9.1 

25% 30 TrGPpt 250 107 
13% 6V TrraOn 10 

36% 29V Trartwv 170 67 


M%— to 

& gig*® - 


21 — % I 


268 15% 14% 149k— % 


714 7V 


52 

48 

TVt 


39 2 SV Tmwld 58 

21 % 9% TwtdwtA 
34 V 24 Twfdcf 270 67 

17% 15V Twldpf 1.90 112 

48% 25V Trov ter 274 

58% 50V. Travpt Lift 75 

27% 19% Tricon 3J2olX5 

30 20% TrtCnpf 250 9.1 

32 13 TrtOInd 50 15 21 

31% 20% TrloPc 170 37 8 

48% 34% Tribune 74 17 17 

6 % 4 Trlartr 5te 95 7 

HV 5% Trico 20 32 15 

g% 13 Trlntv JO 37 

33V 11% Trit£ ng ,10b 5 38 
M% 8% TritE Pf 1.10 85 

41% 29% TUCSEP 370 76 10 

15V 9% TUttax 54 35 II 

19 16 TwtnDa 70 43 10 

fl 30 Tvcom 70 il 10 

17% il v Triers 50 22 I 


m 7Vk + Vk 
902 J7% 56V 57 + % 

<7 16% 16% IftV— % 
51% 31% + % 
47% 47% + V 
6 % 7V + % 
2 10W lffto lOto 
45 30V 29% 30 — % 

41 17% 17% T7% 

779 10% UW 18% + % 

31 2<% 36% 36% + W 
57 27% 26% 27% + % 
T5 2SV 25% 25% + % 
2 30% 30% 30%— W 
7 18% 1SW 18% — W 
4 16% 14% 14% — V 
140 39 371k 38to — % 

14 46% 46% 4ftW— W 
359 4ft 45V 45% 

62 14V 14V MV + W 
355 2V 2% 3to + V 
31 9% 9 9 — % 

1637 38% *7% 38% + % 
397 26% 2SV 2<V + V 
•588 20 19% 19% — V 

21* 15 14% I*% 

WS ® 29% 29% — V 

885 31% 31 31V + % 

14 21% 21 21% + % 

13 12V 12% 12V 

1 20 30 27 + % 

134 48% 47% 48% + % 

38 58 57V 57% 

70S 22V 22% 22% + % 

34 8% 8V 8% + V 

20x 98 98 98 

50x 95to 95W 95W— V 

15 25 23 25 

42 10% 10W 10% 

... 34 30% SOW 30% 

16 12 416 3BV 27% 3BW + % 

11 20% 20% 20% 

10 33% 33% 33%— % 

— 15 17V 17 17 — V 

45 10 2962 46% 45% 46 —to 

B S* 55* 56 

223 26% 26W 26V 

2 27V 27V 27V 

77 29V 29 29 — V 

1056 26V 36V 26V + V 

636 47% 46W 47% +1 

209 5V 5 5V 

23 6% 6% <% 

404 13V 12% 13 

376 21 »% 21 + % 

59 12% 12V 12% 

161 41% 41 41% + V 

3ft 12V 12% T3V 

12 17V 17 17 

315 38to 37% 38V + % 

97 14% 14% 14% + V 


.92 43 ft 


39 21% VP Com 1.12 11 

V2% 5% Valero 
Z3% 14 Voter Pf 354 15JJ 
4V 2% Vatoyla 
2 *% 19 VanDm 
*W 2% Varan 
13% 5% Voted pf 

46V 27% Vartan 
13% 9to Vara 
25% 1* veeco 
B% 3% Vendo 
11 V 8% Vests* 

48% 26% Viacom 


66 

50 


J M 
35 14 
11 13 
163 

TJDalQ5 


395 36% 35% 36V +1 
597 !T% 11V 11% 

38 23% 23 23 —to 

3 2% 2% 2to 

Kl 21V Z1V 21V 

4 2% 2% 2% 

410 9to 9to 9W 

MM 29% 38V 28% — % 

138 11 10% 11 +to 

153 19% 19% 19V— W 
104 8V 7% 8W + to 

23 11V 11% UV + V 


8 ?S mb VOEPpf U4 115 

91% 69 VaEP pf 965 10J 

67% 50V VaEP pi 760 116 

68 V 51% VOEPpf 755 116 

23% 11% VbhuYS 14 

42 ss Vamad 12 

78 <1 VuIcnM 260 34 12 


52 S 21 1086 47% 46 47to +1% 


100 * iff* 80% 00% 

400* 91 91 91 — V 

440166 65V 65V— % 

100X 67% 67% 67% 

25 21% 21 21% 

10 42% 42 42% + % 

20 77% 77 77% + % 


w 


»% 22 WICOR 260 
38% 21% Wacftvs 1-00 
23% 16V Woddtf 50 
10 % 6% Wcdnoc 
56% 36W VYalMrt 68 
30% 16W Walgm* 

23W 15% WkHRsglAO 


86 8 

23 12 
36 


53 28% 28% 28% + V 
135 37V 37 37V + to 

41 11% 18to UM — V 
183 7% 7to 7% + V 

5 27 1440 53% 53V 53V + to 

18 Bt2 27% 27 27% + % 

-- - 274 22% 22% 22% + % 

38V 25% WalCSv 55 16 17 63 35% 35% 3S%— % 

39% 22 WUfJm 150 36 8 1063 38% 379k38to + % 

9% 7V WattJ pf 160 11.1 90x 9 9 9 

W* WaRJpf 140 XI 20 51 50% 51 + V 

26% 17% Women 68 36 12 166 24 23% 23%— 1 
30% 17 WmCm 2287 29V 29% 29V + % 

42% 2*% WcrnrL 1A 14 14 2228 41 40% 41 + % 

22 1«% WURGs 156 73 9 89 21% 21V 21% + V 

28% 15% WGlNat 168 45 7 4324 23% 24 — % 

23% 16% W1NW1 258 107 8 108 33% 23W 23% 

59% 28% Waste 62 14 U 1551 56to 55V 56 + W 

31% 20 WatkJn 66 16 12 107 27 2t% 24W + % 

26 19V WayOpf 140 ““ “ “ “ 


U 


58% 32% UAL 160e 16 9 
Mb 24V UAL of 250 7.1 
15% 7% UCCEL 16 

24V 16V UGI 264 86 10 
11 to Bto UNCRes 
>4 10 URS 40 XI- 15 

17% U5FG 230 56237 

»% 22V USGi 16 U 7 

.J*';'* 13 UfUFrsl jo u 11 

UnlNV 566e 56 10 

41% 31% UComp 154 45 IT 


S4S9 55% 53 54% +1% 

1905 34 32% 33% + % 

58 13 12% 13 + % 

254 23V 22V 22% — % 
239 9V 9% 9%— % 

90 11% 11% UV— % 
633 37W 36V 37W +1% 
1513 39% M 39% +1W 
28 13% 13 V 13V— W 
234 **% fm 99% +1% 
.479 36% 36V 36% + % 


. 86 

I2V 4% weanu 
12% 10 Wean of 61k 
23% 1ZW WebbD JOe 16 15 
29% WMSMk 60 16 14 
62% 30% WtrifciF 250 46 8 
49% 40 WelFpf 467el06 
28% 23M WeiFM 260 104 12 
19V UtoWifidvg 61 
27% 16% WestCo 54 
44V 34 WPenPpPJO 102 
43% 34%Ws»PtP 2-20 54 13 
13V 9% WSTdT o 164 31 

2% WnAIrL 81 

% WlAIrwt 
8% WAb-pf 260 96 
8% WAlr pf XM 106 
4 WCNA 

44% WCNA pf 7-25 144 
126V 92 WPad 10 

24V 5% WUnhm 

8% 2% Wnu pfS 
15 4% WnUPfE 

48 20 WUTIpf 

18% SVWUTlplA 
35% 20% WUbE 
41% 3JV Westvc 


7 

2 V 

22 % 

23% 

» 

51 


10 20 20 20 + V 

69 6V 5% 4to + % 
5 10% 10% 10% + V 
1*4 21 20% 21 + to 

51 39% 38% 38% — U 
418 60 59% 60 + % 

130 47% 47% 47% + W 

141 27 26% 27 

16 19 1510 18% 17% 18V + % 
16 14 49 25% 24% 25% + V 

100x44 44 

142 39V 39V 39% + W 

2D 13% 12% 13 + V 

520 6V 6% 6 V + V 

88 2 1% 2 

10 10% 20V 3r% + V 

11 31V 21 21V + % 

1449 5% 5 5% + % 

3 44% 44 44% 

1 125V 125V 125V + V 
MU 13to 12% 13 + to 

251 7V 6% 7V + % 

77 !2to 11% IZto + to 

5 35 35 35 +1 

50 14V 13V 13% — % 

160 36 10 3667 32% 33% 32V + to 

162 16 8 767 36% 35% 36% — % 


25% Weynrti 160 45 19 1716 29% 29 29% + V 


66 

9.1 


160 


At 


46 10 
54 

12 

16 11 


57V 32% UnCorb 350 86 10 2117 42% C% 42% + % 


.TV 4% untanC 

12, U"gK 162 95 
2SW UnE pf 460 mst 
38 27 V UnE P< 456 11.9 

32% 24V UnElpfAUJH 125 
gJV !2S UEIpfL 860 115 
27% 11% UnElpf 258 116 
19% 13% UnElpf 213 105 
»to 19% UtlEI pi X72 105 
68 49% UEIPfH 860 116 


78 


5V 5% S% + to 
10% U ISto + V 
450x 36% 36 36% + to 

lOSz 38% 38% 38% + % 
U 32 31 31% 

400* 89V 69V 69V 
M3 27V 26 27% + % 

6 19V 19% 19V + V 
18 26V 2ft 26V 
3001 68V 60 68V + V 


43 


.10 

60 


tSS S'* 1 K"?*, IS 18 If 1“ 49% 46% 46% + % 
fHV 82 UnPcpf 765 65 11 105% 104 V 104V + V 

9% Unlrpyl .18 5 13 1168 20% 28% 30V 

2390k 5ft 35% 5ft 


40 X9 
156 36 


.12 


56 

1.94 _ _ _ 

160 X4 13 3791 29% 29% 29% + % 
43V 38 SaraLee 15* X* 11 66T 40V 39 40 — % 

Ml: 50% SaraLpf 343e 65 100 52% S2V 53V 

2 Tm 15 SavElP 140 74 I il 31V 71 31V + to 

Z3 1g Some A 166 46 V 22% 32% D« 

13V 9--K 5ovE Pt 168 10.7 74 

9 W 4% Savin 62 

I3M Savin pi 150 126 I 

U 17 to SCAN A 2.16 86 9 1698 


12 % 12 12 — % 
7% 7% 7% 

13V 17V 12V 
37% 36% 27V* + U, 


47% 33 ScnrPle left 17 13 1187 45% 44 45% +to; 


20 % 

70 50 Urtrylpf 860 146 

5% 3% unitor 
17% io% unBmd It 

16% 99k UBrdpf 

me UCWfV .M J 6ft 
n% 22V UnEnru 248 X? 20 
17% 9 Ulllum 260 116 ] 

»% IJto UlUUPt 197 136 
17V lie* Ulllupf 260 126 
»V 21V Ulllupf 460 1X5 
14V 10 UlllUPt 150 136 
22% 14% Unltlnd 
«% 26 UJerSk 
■6V 9% UMMM 

2% 2% UPkMn 

30V 22 UMlrG 

SV USHont 

SI? 2^ USLeas 
«% n usshoe 
»% 73 uS5fee< „ 

,S>V 49% USSII pf 641el23 

1 ll f% USSII nr 1265 106 

£L. 2? u H ,,rt ’ 125 13 

25 H?” U8Tob 162 46 
raw 57% uswtefl X72 76 
J2 6 USIck n 

Su UnTedl 160 X3 

?JV UTejiP# 255 69 
H II?* UnITp 1.92 XI 

21 14V UWRs 168 

21 Unltrd* 60 
WV IAi Unlvar A0 

2 ,7V UnvOev jot 

“ UnlvFd 1.12 

5% i£S UnLoal 160 
Sm. f-90 

i tiS uned wa 
IM* 45 UPlOhn 256 
® USLIFE 164 „ 

32% USLP pf 1X3 104 

1£5 <% UllteFd 164a 9.9 

25% 20% UtaPL 262 9,1 14 
77 21% UIPL pf 250 106 

27 V 31V UIPLpf Z5Q 104 


12 3% 3% 3% + V 
92 16% 16% 16% + % 
335 IS 15 11 + % 

436 42% 41% 42 + % 

921 27% 26% 27% +1 
122 17to 17% 17% + to 
IB 2B% 2B% 28% + V 
240Z 17% 17M 17% 

20 23% 28% 28% + to 
34 14 13% 13% + % 

75 21V 21 21 — to 

14 42 41% 41% 

181 13% 13% I3to + to 

1 2V 2V 2V 

«73 34% 34% 34% + V 

1278 7U. 7to 7V 

60 22 8 30* 36% 3ito 36% + V 

66 23 15 404 37% 27to 37% + to 

160 16 19 2759 Z7U 26% 27 — to 
IX 52% 52 52 — % 

*8 IX 1271b 127% + % 
134 28% XU 38% + to 
13 520 36% 34 36% + to 

9 +37 79to 78% 79% + to 

19 21 7% 7% 7% 

9 2913 42% 41% 42V + to 

BU 3*% XU 34% + % 

9 773 23% 23V 22% + W 

S3 5 29U 29V 29V + % 

65 12 17 19% 19% 19% 

5 15 IS* 22 21% 22 + V 

46 7 18 19 18% 10% — to 

6 18 M2 27V 26V 26% 

4.1 12 18 27% 27% 27% — to . 

5J 7 351 19% 19V 19V— % 
46 1 69ft 30% 29% 29%— % 

403 30 29% 39% 

24 30 1441 106 103% 105% +2% 

25 10 707 X 3SV 35% + V ! 

j 32 32 32 + U 

19 10V 10% 10V + to 

416 25% 25% 25% 

29 36% UV Mto 

33 Z7to 27to 27% 


44% 34% weyrpf 260 
51% 43to Woyrpr 450 
24to 6% viWTlPH 
40 M% vlWPRpfB 
X 10V vlWhPIt pf 
49V 36% Whirl pi 260 
32V 34V WMtC 
31 17% WhUeM 

25V MV WWftafc 
12% 4% WleUdt 
14% B Wllfrd n 
31% 22% William L40 
5V 2 WllmEI 
BV 6to WltahrO 
36% 25% WlnDIx 
im Tto winnbo 
13% 5Vk Winner 
7% 3% winter J 

]>% 27% Wbcep 248 
88V 68% WIsE pi 850 1X1 
77% S9W We pi 76S 1X1 
76 23V WbGaf 255 10.1 

34V 25% WlscPL 2*4 74 9 
37% 26% WtocPS 256 76 V 
40V 27% Wllco 148 Al 9 
15U 9V WotvrW 34 23 3 

34% 18% WOadPt 60 36 16 
47V 32 Wotwth 260 44 10 
64% 46V Wbtwpf 250 34 
4% 2% WrMAr 

69% 49% Wrtaly 160a 26 12 
5% 2% Wurltzr 

10 10% WVteLS 62 26 13 

23% 17 wvnra J U 7 


X *3 41% 42 + V 

77 49% 49% 49% — to 
22 SU BV Oto +. to 
102 19% 19% 19% 

sm 16% 16V 16% + to 
306 +6% 46V 46% + to 
421 2Bto 27% 27%— % 
274 30V 29% 29% + to 
71 S3to 23 23 

12 IBV 10 10 — V 

11 U llto 10% 11% + % 
7 1133 30% 29% 29%— to 
144 4% 4% 4% 

14 16 167 TV 6% 7 + to 

55 13 140 33% 32V XV +IU 

15 9 1109 10% 10V 10% + % 

42 51 «to 6% 6% + V 

4 6% 6% 6% + V 

222 37*. 36% 37% + to 
1701 88 88 88 — V 

40% 76V T6to 76 W— Ito 
6 2SV 25to 2SV 

78 35% 3SV 35% + V 
X 35% 35% X»— V 
49 33% 35V 35% + to 

205 10% 10% 10V 
53 22 21% 31% + W 

319 46 45% 45% + to 

2 64V 64V 64V + U 
X 3% 3V 3V— V 
IX 67 V M% 67V + % 
1ft jib 2% TV— V 

us llto ii lito + to 

43 17V 16% 16% — % 


66 8 


50% 33to Xerox 100 *1 B 2574 49V 48% 48% — V 

MV 45% Xerox pf 5L«S 1X1 441 53% 53% 51% 

29 19 XTRA 44 25 10 252 25% 25 25% — % 


30to 24 ZoiftCp 
72 1DV Zapata 
X 25 Zavret 
30 IBto ZanltliE 
21 % IS Zerei 


162 45 9 
64 TJ 21 
48 9 17 


15 


29% 29V. 27% — % 

363 11 10% 10% — to 

930 54 5316 53% 

1870 20 19% 20 +16 

60 ISto 18 ISto + V 



B Pound 
12X12 
12X12 
12X12 
12X12 
12X12 
12X12 
12X12 


100 

IDS 

no 

115 

120 

125 

130 

IX 


1750 

1340 

735 

230 

nnc 


7235 


965 

460 

360 

265 


1360 


S3 


5X000 Canadian Dollan-cents per Wilt. 


r 

r 

r 

r 

r 

r 

150 

r 


0.18 

065 


160 

2-50 

440 

765 


365 


CDollr 

73.12 

73.12 

73.12 

73.12 

73.12 


111 

162 

008 


262 

267 


<2600 west German Marks-caals par unit 
DMark 23 r *30 r r 
3245 29 3m T T r 

3Z£5 30 262 r r r 

3245 31 Ul 3.16 r r 

3245 32 0L62 158 21B 061 

3245 » 062 162 1A1 <U4 

3245 34 f fhQ T T 

3245 35 r Ml 062 r 

I&wo French Freacs-lKhs of a cent per unit. 

F Franc is® 7-30 T t T 

10766 105 268 L30 r r 

4250400 Japanese Yan-TOOtM of a cent per eaN. 


060 

06S 

045 

160 

r 

r 


063 

040 

073 

163 


045 


JYen 

39 

1.12 

r 

r 

r 

r 

40.18 

40 

X15 

1.10 

r 

r 

025 

4X18 

41 

r 

r 

106 

r 

109 

*0.1* 

41 

r 

OJft 

r 

r 

r 

4X18 43 r 020 

63JB6 Swiss Francs-ce«n per unit 

r 

r 

r 

SFronc 

35 

3.90 

r 

r 

r 

r 

3807 

36 

201 

r 

r 

r 

029 

3807 

37 

101 

200 

r 

r 

r 

3807 

38 

006 

r 

154 

aoi 

003 

3X87 

39 

002 

IJ» 

r 

X1S 

100 

3807 

40 

r 

004 

105 

r 

r 

3807 

41 

r 

005 

r 

. r 

r 


92M 

9259 

9234 

9167 


9X19 

9Z62 

9246 

92M 


US T. BILLS (IMM) 

Si rniman- ptsef MOPCt. 

93.11 86.94 Sep 

9269 8567 Dec 

9249 UM Mar 

92.19 8761 Jun 

9161 Ki® S®o 

9145 8965 Itec 

. 91 J9 8958 Mar 

EsL Sales Prev. Sale* 14578 

Prev. Day Opto Int. 34606 up 555 
ttl X. TREASURY ICBT> 
nOXOOOiHln-Pts & 32nd* at UMpet 
89-18 7X9 Jun 88-2 8X31 

W-21 75-11 Seo Bft-25 87-39 

<7-13 75-T3 Dec 86-17 ift-Z7 

85-31 73-14 Mar 85-21 85-33 

. 85-7 7+30 Jun 8+21 84-23 

Est. Sates Prev.Sates 12595 

Prev. Day Opto InL 54.177 o#f5T7 


926ft 

926* 

9262 

9167 


9X17 

9260 

9245 

9X13 

916ft 

9162 

9140 


+63 

+J3 

+64 

+6ft 

+64 

+67 

+67 


SP COMP. INDEX (CMC) 
potatsand cents 

191.95 15X10 Jun 18650 187.15 10560 18761 

19540 16000 Sep 18960 1*060 109.10 19X55 

1*9.10 17X70 Dec 19350 19365 19350 19260 

30265 19X10 MOT 19665 19731 19X10 19750 

Eet Salat 45657- Pltev.Sate* 69645 
Prev. Day Opto im. 79471 
! VALUE UNEflCCRTl 
point* and ceafs 

21948 17360 Jun 19X60 19X95 I9JJ55 19X70 

21X30 10573 . Sep 19940 30068 19X40 19960 

21360 20000 Dec 20300 2OU0 28250 303.30 

Est. Salas Prev. Sains 46M 

Prev. Dav Opto I id. 8630 DP 739 


+1JT 

+I6tt&‘ 


+165- 

+1JH U 

+165 


88-2 

8X23 

86-10 

85-15 

8+20 


18-18 

87-14 

84- W 

85- 17 
8+63 


+16 

+15 

+13 

+13 

+16 


, NYSE COMP. INDEX (NYFE) 

! paints and asms 

111.15. 9008 Jun 18008 10840 10760 10055 

11340 91 JS Sep 11060 1107S H960 11060 

11550 10168 Dec 11240 11240 11260 11X70 

11760 18958 Mar 1M60 IM60 11X15 11460 

Est. Safes 1X136 Prev. 3am 1X301 
Prev. Day Opto Int U699 off* 


+60 

m 


Commodity Indexes 


US TREASURY BONDS (CBT) 

(I Prf^OOJMOteta X 32nd> of 100 P® 
80-11 57-20 Jun 7744 7940 

79-13 57-10 SOP 77-15 78-17 

W-13 57-0 Dee 7X18 77-16 

77-12 57-2 Mar 75-18 74-14 

7+4 5+29 Jun 7+26 75-18 

7541 5+29 Sap 74 7+23 

7+4+ 5+25 DOC 73-13 7+2 

7+15 5+27 Mar 734 7X7 

73-11 63-12 Jun 

72-27 <3-4 SOP 72 72 

72-18 62-24 DOC 

Est. Sates 


Moody’s. 


7741 

77-15 

7+15 

75-18 

7+46 

74 

73-13 

7X5 


71-25 


| Prev. Day Opto imSoMS'wxiS 0 


79-11 

78-7 

77-7 

7+11 

75-14 

7+22 

7340 

737 

73-14 

71-30 

71-9 


+111 

+19 

+19 

+111 

+111 

+111 

+111 

+111 

+19 

+111 

+19 


Reuters. 


DJI. Futures. 


Close 

moot 

ijwjo 

121.12 

232J80 


I Com. Research Bureau. 

Moody's : boss loo : Dec. 31, 1931. 
p - preliminary; t - Anal 
Reuters : base 100 ; Sep. 18, 1931. 
Dow Janes : base 100 : Dec 31.1974. 


Previais 
WiW 
1.794.10+ 
120 .BTi 
233.10, 


Market Guide 


GNMA (CUT) 

81OQ0M pri+ptaX32ndsef lOOpd 


Total aUveL 1X339 Cell open tat 2»J7 

Total put tOLUH Pot earn lot 17X491 

r— Not traded, s— No option offered, o— Ota 
Lost Is premium (purchase price}. 

Source: AP. 


77-4 

5M7 

JIM 

76-24 

76-24 

76-18 

7+23 

+11 

76-16 

59-13 

sep 

75-22 

758 

7522 

7+3 

+1 

7V2S 

75+ 

SM 

5820 

Dec 

Mar 

759 

75-10 

750 

75-14 

7+26 

+11 

+01 

74-23 

6821 

58-35 

65 

Jun 

seo 

73-31 

7+11 

7531 

7+11 

7531 

+31 

+31 

EeL Sates 

Prev.Sates 

202 





CBT: 

CME: 

IMM: 


I Prev. Day Opto lid. 3672 up 27 


NY CSCE: 
MYCE: 
COMRX: 
NYME: 

, KCBT: 
NYFE: 


Odcaao Board of Trade 
OricoflO Mercjitlte Exchange 
^5%!? ,,,0O0, Market V 

OfCldOTO Mercantile Exchanee . 

SS: ISS4T" 
sSWjSSSfE'sus' 

ssrwfisssass. -i 


i.v. 

Si:; 

Y- 

K> 


fc-T 

L-j 
• #T - , 


• 

?■: r 

J'M. ^ 

iv- . 
iu- 


f-i. 
Lj , 

V. 




London Commodities 


Jane 14 


oct 

Dec 


MOV 

Aug 

Od 


Close 

High Low Bid Ask 

SUGAR 

Sterling per metric ton 
Ane 9340 9Z20 9360 9340 9260 9140 

9560 9160 9460 9S30 9440 95JB 
9960 9960 99+0 10060 10050 10160 
11160 11040 11140 11148 11140 111JU 
N.T. N.T. 1T540 11640 11560 11540 
12160 12160 12040 12160 12040 12160 
N.T. N.T. 12460 T2560 12440 12100 
Volume; 1515 fols of 50 tons. 

COCOA 

Starring per metric tan 

JIV 1688 1672 1687 1688 1673 1674 

See 1646 1624 1637 1638 1.733 1635 

Dec 1616 1493 1604 1605 1603 IJD4 

Mar 1630 16M 1615 1J17 1630 1621 

1638 1625 1630 1631 1635 1634 

N.T. N.T. 1630 16« 1642 1JS0 

N.T. N.T. 1635 1653 1651 1673 

Volume r J0B7 (ols of 70 tons. 

COFFEE 

Starting per metric ton 


London Metals 

Jane 14 


Previous . 
Bid Ask 


Prevtaas 
BU Ask 


May 

Jhr 

Sep 


Jty 

Sep 


Jen 

Mar 


Jh» 


XIH 1088 2088 3090 2.110 111! 

2.162 2.13ft 2.140 2.141 ZH3 ZU5 

2J1D live 2,192 3606 2610 

2642 2620 2634 2638 2635 2640 

2632 2632 2624 2635 2634 2639 

2633 2633 2615 2628 2610 2640 

N.T. N.T. 2.190 2625 2600 2640 

Volume: 34SA lata of 5 tans. 

GASOIL 

UA dollars per metric IM 
Jhr 21*00 21265 3IZ00 21X50 21300 21363 
21150 21065 21165 NJL 21200 21265 
21425 21200 21200 21265 21265 21300 
21665 21465 21+00 Z14J0 21*65 71500 
21900 2IX» 21X00 21700 21700 217J0 
22X50 23X50 71800 21900 71900 22X00 
N.T. N.T. 21600 2000 21800 tnirt 
N.T. N.T. 21500 22400 21500 23400 
N.T. N.T. 21500 22400 21200 22400 
Volume: 79* lots ol 100 ions. 

Sources: Reuters and London Petrateum Ex- 
change taasalU 


Od 


Mar 


S&P 100 Index Options 

Jane 14 


SUM CMMad 

Pdcr Jsa Jly Am Sep 

145 — — — — 

no U We - U 

in 6 Tto IL - 

1% Ito Sto tto 

ns i/u lx x » 

l« 1/1* to Ik. 2 

NS — l.'lft 7/1* I 


AM SCP 


Pefs-LoM 
Jm JN ' 

- I/It - 

- int i/i+ — 
1/M 1/lt 5/It 1/U 
t/tt it urit in 
to m a. 2 to 

4to tto 4« 5to 

h w n » 

14V - - - 


Total con wlrne I9.m 
Total Ml open Mft8U3i 
TIM Ml tatoina 1S4J87 
TUG pol open M.4RMI 


HI* non LwIMI 
Source: CBOE. 


ON* 1091+181 


U.S. Treasury Bill Rates 
Jane 1.4 


Offer Bid Yield Yield 


Stenonlti 
emanfii 
One vear 


*61 

+88 

708 


Aft* 

AM 

70S 


*92 

762 

7J8 


7.1* 

IM 

703 


Some: Setorrwrr Brothers 


B1XOO 

84000 


dose 

Bid Ask 

ALUMINUM 
SterNno per metric ton 
spat 60300 80400 81700 

forward 82400 82500 83900 

COPPER CATHODES (High Grade) 
Starting per metric tan 
spat 1.11*00 1,11700 1.13100 1.13200 

forward 1.13100 1.13100 1.14900 1.15009 

COPPER CATHODES (StOOdardJ 
Starting per metric ton 
Spot 1.10300 1,10500 1.12100 1.12400 

forward 1.11800 1.12900 1.13700 1.14000 

LEAD 

Starting per metric ton 
spot _ 30700 30800 31400 31600 

forward 30300 30*00 30200 30200 

NICKEL 

Starting per metric ton 
spat +35000 466000 469000 +40X00 

forward 46H0O 469000 *64000 464500 

SILVER 


Spot 48500 £00 48500 48700 

Parwara 50000 50200 SOO0O 50100 

TIN [Standard) 

Sterling per metric ton 
spat 9+7400 907400 962500 963000 

forward 960100 960500 968500 768*00 

ZINC 

Starting per metric too 
snot 5*800 5*900 57000 57100 

forward 57200 57200 58000 58000 

Source: AP. 


DM Futures Options 
Jane 14 

W. Gcnraa Urt-CUB marts csds per oak 


strike 




Mar 

SftP 

Dec 

Mar 


7 1ft 

257 


o3ft 

06ft 

— m 





007 

102 

138 



1X7 

1.95 


1X7 

— 

Aug 



101 



— 



008 

US 

i*i 

172 

— 


Bit 

005 


339 

342 

— 



Estimated fatal ni X535 
Colls: TIM ML 1409 OPTO teLlXMl 
Pete : Thu. raL 435 open kit 14648 


Source: CMC. 


Swiss Unemployment Drops 


Reuten 


BERNE — Swiss unemployment 
fell to i.O percent of die working 
population in May from 1.1 per- 
cent in April and 1-2 percent in 
May 1984, the government said 
Friday. 


FO« THE LATEST W3RD ON 
EUROBOWS 
read carl gbmutz 
each monown the IHT 


Asian Commodities 

Jane 14 


HONGJCOHG GOLD FUTURES 
U^s Pftraaace 

Ctesa Prevtaas 
HW Lew Bid Ask Bid Asl 
Jun— M.T. H.T. 31*00 '31A0O 31300 315J0 

Jly N.T. N.T. 31500 31700 31400 3160 

Aug - N.T. N.T. 31X00 31800 31X00 31X00 
Od _ m00 32100 32X00 32200 31900 32100 
Dec _ 32506 Trim 32400 33*00 V3 .B9 32 — 
Feb_ N.T. N.T. 32X00 33000 32X00 33 
Apt — N.T. N.T. 33200 33400 33200 33 
Volume: 2ft lets ofl 00 oz. 


SINGAPORE GOLD FUTURES 
UJS6 per ounce 


M JS. 

31X50 

N.T. 

N.T. 


Law 

N.T. 

317.40 

N.T. 

N.T. 


volume: 116 lata of 100 re- 


settle 

31560 

31800 

31X90 

32X90 


Same 


31X10 

131*00 

31X90 

32X90 


KUALA LUMPUR RUBBER 
MeieysMe coats per kilo 


Nov 

Dec — 

Volume: 12 lata. 


BU 

30400 

£5 

19900 

28400 


Ask 

RS 

19900 

201 . 


Previous 
Bid ASk 
20100 20200 
19X50 19700 
19708 irano 
19806 19900 

20X50 20250 
3 0250 2M50 


SINGAPORE RUBBER 
Singapore cenb par kilo 
Close 


Rss l Jly— 
RSSlAlte- 
RS5 2JIV— 
RSS 3 jry — 

rss 4 jly 

RSs s jiy — 


. BM 
18400 
17800 
1755a 
17350 
16950 
16*50 


Ask 

18500 

17900 


17X50 

17150 

16X50 


Prevtaas 
Bid Aik 
18150 18250 

i7&jie n&m 
17400 17500 

17200 17300 

16X00 17X00 

16300 16X00 


Cash Prices June 14 


l 


Commodity and Unit 


Coffee* Santax I 

m <4/30 .38 Vi. Vd . 


PrlrfcloltiL ... 

Steel blllela iPItl.l, ton. 

irons Fdrv. Phitautan 

Steel scrap No I hvy PltL _ 

Lend Spot, lb 


Copper elect, lb . 
Tin (Straltsl.lb. 


Fri 

100 

000 

47300 

21300 

70-71 

19-21 


Year 

J 

21X00 

108-im 

MSB 


Baste, lb , 
Palladium, ai — 


67-70 67%-7l 
SJP'm 66885 
X4+J7 853J3 


— 9+100153- 


Silver N.Y„ az . 
Source; AP. 


155fa 

8X75 


^ Dividends 


Jane 14 


Company 


Per Ami 
INCREASED 


Betz Lata 
Natl Fuel Gas 


acco World 
Adorns Express Co 
ARO Corp 
Basix Cera 
Cental Corp 
CILinc 

Commere Cimo Use 
Ever & Jen ii Cl-B 
Gen! Signal 
Grow Group 
James River Coro 

Keystone mtl 

Lane Co 
Mllllpqre Corp 
Petra & Resources 
Pine Street Fund 
Shawmut 
Uld Siaftaiurj 
VSECorp 
Wyte Laboratories 


KUALA LUMPUR PALM OIL 
Malaysian ringgits par 25 tans 
Close 

Bid Ask 

Exp. — 

Lira 1020 

1.100 i.m 

10BO 1,130 

1050 10WJ 

. - 1070 

Jan 1020 10*0 

Mar — 1JS30 10*0 

Mav — 1010 1060 


Volume: 0 lata of 25 tans, 
jounce; Routers. 


Prev tans 
Bid Ask 
1020 1070 

1.190 1040 

1.110 1,160 
1080 1.130 

10*0 moo 
10*0 it; 

1030 ]0?§ 

1030 1070 

1020 1060 


West Germany Reports 
Increase in Retail Sales 


Return 

WIESBADEN, West Germany 
— Retail sales in West Germany 
rose a provisional 0.9 percent in 
April from a year earlier, the feder- 
al statistics office said Friday. 

In March, retail sales had fallen 
3.2 percem compared with March 
last year. Sales for the first four 
months were provisionally ],] per- 
cent less than in the same period in 
1984. 




A-Aronol; M-Mftntalv.- OXJwtertv: S-Son* 


Paris Commodities 

June 14 


Lew 


Close 

BM 


S 


rv ; lj Jor r* 

S«i 


SUGAR HlW1 
Frateh francs per metric ton 
Alta 10*9 10*3 

1075 1051 10 S 

jg "ard \3R 

^ NX ^ 


Od 

Dee 

Mar 

May 

Ay# 


Chi* 

rf 

— M 

— 11 
— 11 


!| 

COCOA 

Pranch Krone* p er lag kg 

5to MM 2JUS \j£i Un ov 

! Ill^il 

8®F N.T. N.T. Sno z I; 

oe,uo1 

■^ofldi francs per iso ka 

£ 

»T, NT. 3^0 Kit —2 





May 

Jlr 


2590 


Soorco; Bourse ctu Commem 


r 


7 Tf ^ 








INTERNATIONAL HERALD TRIBUNE, SATURPAY-SUNDAY, JUNE 15-16, 1985 


Page 15 


Over-the-Counter 


June 14 


NASDAQ Notional Market Prices. 


Sotelo Her 

no, HM Lew lPJVLCb>t 


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Acctos 
TACMAT 
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■ActfTXJS 
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"AdvGen 
AdvSem 
■ AdvTel 
Aequtrn 
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ah Bah 
AscvRt 
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Atakmt 
AlskNt 
Aisle Pc 
AJexS 


JD ZB 
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ANiins 
APkvG 
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AmSfts 
Motor 

AwSco 

Amrttri 140 
Am rant 
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1123 23 21 — ft 

3021 am 21 + ft 

351 IT IB* 11 

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302 944 9% 9fc-ft 
2*4 4 a 1 -H 
272214 22 'A 2214 
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31422ft 22 22 — It 

2915 Uh IS 4-th 
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315U IS* 15%. 

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352 20 1914 20 +1 

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102 04* >ft 8* 

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444 4ft 
3 2 — 

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8S32U 32ft 3314 + 

34 54. 5V1 5ft — 

1351244 12ft 12ft 
3021444 1*1* l*to + 

5 5ft 5ft Sft— 
£016 15ft 1544 
01414 MIA 1414 
10327ft 27V. 374* + 
7231ft 34 34 — 

13719 17ft 10 —1 
270 5% Sft Sft— ' 
4*2 50 63 +4 

US2314 23ft 23ft- 
47W lffft 19 + 

4311b 30ft 3014 + 

45273ft 22ft 23ft + 
421ft 21ft 21ft — 

73 4ft 4ft 4ft + 

2511ft lift lift” ft 
ISM Ih n 
18 344 314 3ft— ft 

29 8 7ft B + ft 
1192 944 Oft 9ft- ft 

2110 10 10 — ft 

4315ft 15ft UEft 
97 4 4 4 

838 M 944 10 + ft 

54114* Tift lift + a 

30 7ft 7ft 7ft— ft 
13124k 12ft 12ft— ft 
4211ft lift lift 

398 6ft 444 Oft— 1* 
32744 27 27 

28 1A1A 1S44 1544 
3 744 744 744— ft 

5524 25ft 2* + ft 

2M12ft 12ft 12ft + ft 
15236ft 3644 3646 . 

32913 12ft 13 '+ 44 
4220ft 20ft 30ft + ft 
82317ft 14ft 17 —ft 
39 6 6 6 

3 9 9 9 — 1A 

a 744 7ft 7ft 
3516ft 16 16ft— ft 

i«TtTr* 

7431ft 30ft 2114 + ft 
4353244 33ft 33ft 

l 4 * 4 J£+* 

4126ft 2544 25ft 

9312ft 12 12 

904 3 2ft 2ft— 44 
757 ft * * 

17 7 7 

46337ft 3644 37ft 
1518% 1844 1 044 + ft 
251 7ft 7 71* + ft 

16424ft Mft 24% + ft 

1116 15ft 16 + ft 

27 Sft 5ft 5ft— ft 
50011ft lift lift 
1410 10 10 

•411ft 11 11 

1113ft 12% 12% — ft 
83 2D 19ft 20 + ft 

iflf * 


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AddSIr 
■ ' - Archive 

J ' J * K 

. . • - S ASMon 
•• ;■ • T. AedBcp 

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714517 14ft 17 + ft 

2448715ft 14ft Uft— 4* 
12125ft 25 25ft- ft 

15912% 1214 13ft 

534 2Dft 28 20ft + ft 

1510 10 10 

192 5» 5 51* + ft 

7020ft W% 1944 — 44 

is - ! * 

■90 9ft St + ft 


’•Ti-rk inerxn 




* ■ <■* 



Bird Inc 
JBWlGr 
iBicklnri 
BtteAT 
IBeatBn 
BobEvD 
BoItTc 
BooMB 
BaaiEI 
Bosthin 
Bostac 
BstaDta 
BstnFC 

Brad RE 

BroOvw 

BraeCs 

BrncfcC 

Branco 

BtHIjm 

BrwnRb 

BrwTom 

Brunos 

Buffton 

BulldTr 

Brnhm 

BurnoS 

BorrBr 

Bcrrlt 

BMAi 

BcnbiM 

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74 744 7ft 7ft 
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4 6ft *44 Oft 
.136 S' 4ft 4ft 

^ -ft 

547 19 MU J9 +14 

.2513 Uft 12?— ft 

2434 33 3344 + 44 

1413% Oft 13ft 


.14 12 2*14 


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4ft 4 4 

1014 18ft IW4 + 1* 
14ft Mft „ 
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13% 13% 




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17ft 17% 17ft + % 
7% 7% 7% + 1* 

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426% 26% 21% 


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CCOR 

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Calwirs 240 

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Carol In 

Cortert .1 .. 

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CnBshS 192 42 
CPdBks M 3j 0 
CJerSc UO 5J> 
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Chopen 

Charolt 

QwmS* JO 19 
Charvta 

ChathM 90a 39 
Chattm M 27 

caikPnt 

CMtTcfi 

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1533% 32V. 32% 

41 8 7ft 7ft— ft 
KT5% 5% 5% 

3920% 20% 2D4t + 44 
12346% 46 46% 

118% 18ft 18ft 
16 94* 9ft 94* + 4t 
517ft 17ft 17ft + % 
300 4ft 4 6ft 
142 9 Bft 8% — % 
5* 2% 2% 2% 

197 4 3ft 3% 
55120ft 20 20 — ft 

921% 20% 20ft 
28 214 Tft 214 + 4* 
12 2ft 2% 2ft + ft 
11M Ub IBM 
249 9% 94* 944 
165 4% 4% 4% + K> 

645% 45 454A + % 

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2S72Z4Ji 22% 23ft— ft 


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Bonias 
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Barton 


1941 79 
JOo 11 



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58204 24ft 244* 
10017% 19 19% + ft 

16032U 31% 3144— ft 
1409 7% 7ft 7ft— ft 
178 8% 8» 8ft + ft 
728% 27% 20 
426% 26ft 26ft +1 
7445% 45% 45 —1 
3627% 27ft 27%— ^ 
12013% 13% 13% 

234 18 94* 18 + ft 

611% 11% n% 

B8M 15% 15% 

38 Bft Oft Bft 
406 1 ft 1 
119025% 23ft 25 +1 
11 3ft 3 3 — ft 

2 8% 8% 8% 
17213ft 13ft 13ft + ft 
41 38 37ft 37%— ft 
61 7% 7ft 7% + ft 
4158 57% 57% — ft 

£ 6% 6% 6%— ft 
7 6% 6% 

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3720 194* 20 + ft 

4013% 13% 13% + ft 
13615% 15 15%— ft 

1012 K 12 

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49 41* 
2614 
514 6% 
20 7% 
1417 
15 2% 
4 6ft 


31% 32% + % 
16% 17% + ft 
15% 15% 

4ft 4fC 
13% 14 
5ft 6 — % 
71b 7ft— ft 
16% 1*%— % 
2% 2»— ft 
44* 6ft— M 


9*0 L4 


Cheraka 
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Chasllt 
CMOri 
Oil Poe s 
Chilis 

Chttand 190 49 
OKKner 
Chronr 
CbrOwa 
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CkmFs 
OnMSc 
cantos 
Clptwr 
Clprtco 

Clmm 

CtzSou 
CtzSOa 
ClzPld 
CtxGtP 
CtzUtA 
CtztilB 
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CtyNCp 
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OarkJ 
CloalcC 
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CtovtRt 200 mi 
CflftfRM 

CdarfF 
CstSav 
CobsLb 
CocaBIt 
Co*ur 
Caaanic 
Cohrnls 
ColabR 
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Collins 

ColABn 90b 27 
cbodA 90e 27 
CokiGos L56 U 
CotGSPf 198 109 
CotUAc 190 73 
CotrTlc 
CoWrt 
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Co mors 

Comare 9Q .1 
Cornell f .a 9 

Comdta .16 19 
Comdlal 

Comarc 2.10 S3 

CmdAlr 

ComBpf 

Com Bsh loo 39 
ComCJr 112 73 
CmcaU 191 29 
CmBCol 94 29 
CmdBn 290 41 
CmdFd 

CmiShr JOo U 
CnfttiB 194 97 
CwtthF 1.12 b 139 
CmwTl 190 52 
Com Am 

Comintf 91 19 


301 lft lib 'l^ +1l 
4144* 16ft 14ft + ft 
26010V* «* 10 

34 0 8 8 

204 3ft 344 84*— ft 
1 8 8 8_ 

355 1% 1% 1ft— ft 
15612% 12ft 12% + ft 
H26*4 26% 26ft + ft 
34 9% Tft 9ft— ft 

S83! » MS+ * 

54617 16ft 16%— ft 
345% 45% 45% + % 
5*032 31 32 + % 

25327ft 25ft Z7ft +1% 
3725 24 24 —1 

1313ft n 13ft + % 
Z7I6% Uft 16ft 
931 31 31 

HE ^ W 

7714% 13ft 13ft 

S 7% 7ft 71b 

2ft 2% 2ft + % 

52711% 10ft lift + ft 

10 ft 4b % 

21 Sft 5% 5%— ft 
1 4 4 4 + Vk 

874 2ft 1ft 2 + ft 
77 4% 4% 4ft— ft 

20101b 10% 101b + ft 
41819ft 19ft 19% 
3216ft 15% 15ft— ft 
Z121KI 21 21 — ft 

5711 17ft 17ft— ft 
5620 19% m + ft 

141 U 9% 9ft + ft 
44028% 28% 28ft + ft 
331 6% 6 6% + ft 

4717ft 16% 16ft— ft 
27B 17% 12 

625 24% 24ft 

W37lfiffe-10 ’lift — 1* 
14729ft 29 29ft— ft 

6926% 26ft 26ft + ft 
12120ft 20 im 
24031% 311b 31ft + ft 
229 8ft 7% 8 

4917ft 17% 17% — % 
45 64* 446 6*4 

37648% 40ft 48ft— ft 
11518% 18ft 18ft- ft 
9131ft 34 34ft + ft 
132415ft 15ft 15ft + ft 
10 7ft 7ft 7ft 

S S% Sft 5% 

39ft Sft 38% + ft 
19 160521% 20% 21 + % 

39 24431% 31ft 31ft— % 
18 18 
38ft 38ft 

fflt 

25% 


+ % 
... — ft 
lft + % 

. __ . +1 

1124 23% 23% 

2 Tft 7ft 7ft + % 
518ft 18ft 18ft + ft 
420 19% 19ft— ft 

18722% 22 22% + 16 

13114% 14% 14ft 



94 16 


ComSys 

CotnSnr 

CmpCds 

Cameaa 

CnvpoT 

CmpCr 

CmoraL 

CmoSv* 

Comma 

CCTC 

OnpAS 

CptAirt 

CmpDt 

CmotH 

Cmoldn 

ClTipLR 

CmotM 

CmpNot 

CmpPtfi 

CmpRs 

CmTsks 

Cmputn 

Cptcfft 

C narya 

ComShr 

Comstk 

Comte h 

Concptl 


98 49 


Jlr .1 
90 U 


98 9 


.12 29 


irlSkrg 

517 17 17 - % 

■ jfi 34 34 

62917ft 17ft 17ft- % 
9420* 20% 20% — ft 
« 8% 8% 0ft— % 
15)12% 12 12% + % 

9414* 14% 14%— ft 
91S» 15% 15%—% 
13638 29% 30 + ft 

43611% 10% 11 
454 2 1ft J 

S 39* 39ft 39* + ft 
Aft 4 4 — ft 

418ft 18ft lift— % 
13157% 56ft 57% +lft 

S 79 78% 79 + % 

tf0% 39ft 39ft— ft 
2414 13% 13% 

449 49 49 + ft 

7413% 13* 13% 
8610% 10% 10% , 
im 22ft 2ZU + % 
7) Oft 8% Sft + ft 
530% 30% 30% 

185 1* 1% 1*- % 

77528% 28* 28ft 
2S 9ft 9 9 

« 38K« IB 1® 

*020% 20 20% 

1994 IH 7 7% + ft 

21 10 9% 10 + ft 

97931ft 31ft 31ft 
2 5ft 5ft '5ft 
77 9 8% B%- % 

8 2* 2% 7* 

9* 9% 9%— ft 
5025 34% 34%— ft 

53 5* 5% 5%— ft 
2 9% 9% 9%— ft 

sr 0 

m 4% 4% 0- % 
23 7% 7% 7% 

1« 7% 7 7 — ft 

10 4% 4ft 4% 
.71813% 13 13% 

38 Oft 6% 6ft 
5 3% 2% 2*— ft 
37 3ft 3% 3ft + % 
11 8% 8% 0% 

ft ’SM 


461 1% 
•9 6* 


Oft 6% + ft 


Ms Mob Lew apjULOHte 


Conttrs 


au- 

CCteR 

CCons 

ConFbr 

Cbteps 

OonaPd 

ConsttB 

Consul 

ConsFn 

Qmwts 

asp 

% 

CtlHNC 

Contsil 

Contlns 

ClUar 

ConvFd 

Convyt 

Convrae 

ConrBia 

CooraB 

Cooytal 

Corcom 

Cordis 

Const 

Corvus 

Couno 

Courart 

CourDts 

Covnat 

CrkBrl 

CrodTr 

CrazEd 

Cronus 

CfWTT 

CwnBk 

Crump 

CulkiFr 

Cvltum 

Sit. 

Cram 

CvorSv 

Cyprus 


190 U 
190 79 
3900122 
160a 89 
UOollJ 
390 1U 

198 23 
98 1J 
IJB 49 

60* U 
190 49 
290 59 


98 9 

J*a 4.1 


3226% 
2320% 
14823 
2118% 
21 Wb 
297 22% 

17 7 

75 57% 
737 4% 
431% 
430 3% 
3 5% 
2029% 
9837% 
1174% 
513 

302 Uft 
742 6% 
65 ft 
28822% 
21 4ft 

18 Bft 
4213 5% 

13214% 
181 2ft 


90 

23 

27018% 

13319* 



6 7% 
S3 6% 

108 

U 

246 54% 
606 2% 

JO 

11 

1924 



5 It 




JU 

33 

34615% 

33329% 



1614% 

90 

11 

134626% 



13513% 

94 

19 

4632!% 

94 

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56019 

56 

29 

59 32% 

JM 

U 

1 6% 
3322% 

JOo U 

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36 26 — % 

20 20% — M 
22% 22ft 
17% 18 
Mft 15% + % 
21ft 22 + % 

7 7 

50% 5716 ■+. % 
4% 4% + % 
31 37% 

344 344— % 
4% 5% 

29 29% 

36% 37% + % 
14 14 — % 
13 13 — % 
Uft 15% 

51* Sft + ft 
ft ft + fi 
20 21ft +144 
4% 4ft 
Sft lft+% 
5* Sft 
14% 14% 

2% 2ft 
17* 18 + M 
18% 19% +1 
7 7 — % 

8% ■%— % 
54% jM + lb 
1ft 2 +% 

3* 3ft— V4 
23% 23% + % 


12% 12ft + ft 
15% 15ft 
28ft 29ft + ft 
« Uft + ft 

Uft 13ft 
32% 32% 

18ft 18%— ft 
22ft 22ft + % 
6% 6%— ft 

31% 31% — % 
9% 9ft — % 
12 12ft— * 


DBA 

DCNYs 

DDt 

DEP 

OUtas 

g^P, 

Donibmi 

g S£& 

DorosF 

DmnBlo 

DonOp .13 .1 

Dofcrdi 

DtaiO 

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□armor 

PgtPMT 

sssr 

Datum 

Daupbn 196 59 
DovfWs 

Dr,bSh JO* J 
□utiko 


4615% 
6040 
23 3ft 
2910% 
1471144 
27 8% 
677217ft 
19 7ft 
2110 % 
229*22% 
3528ft 


15% Uft + % 
39 39 — ft 

3ft Sft— ft 
10 10% + ft 

lift 114* + ft 
8H 8ft 
Uft 17ft +% 
7% 7ft— ft 
10% Mft— ft 
20% M +lft 



6% ... 

MB MS —ft 
Uft IBft— ft 
70ft 11 + ft 

3% 316— % 

7ft 7ft— % 
2ft 2ft 
18 18 + ft 

3th 3ft— ft 
6 4M + ft 
39 39ft— ft 

Uft 14ft— ft 
Uft 2514 + ft 
10ft 10ft— ft 
3% 3% 

24ft 

. . 18ft + ft 
7% life 
17 11% 

6% 6% 

% 


□Aral 

Djcaan 

Dlanod 

Dfoloo 

DtotCm 

DbmrBl 

Dlonsx 

DkMC 

Dvtood 

DfvIH 

DIxnTl 

DocaOl 

DtrGnl 

DomB 

DrotH 

Dot Lorn 

DoyfDB 

DftMMz 

Drestirs 

DrasBs 

DfftKlr 

DrayGr 

DticfcA] 

□uhkDs 

DuqSym 

Dorm. 

Cubans 

Ourlran 

DurFU 

Dynscn 

DytrtcftC 


90 4J 
94 39 


JO 9 
IJB 15 
90 U 
98 15 
98 39 
JOB 19 


67 Sft 
3105ft 
15219ft 
4541! 

421 4 
10 Tft 

2 2ft 
an 
18 3* 

21 61* 

3739% 

815 
8525% 

616 Tl 

15 3% 

38134% 31ft 
34310ft 18% 

25 Ilk 
7717% 

18 6% 

16 M 

1*58. 1ft ... 

<28 7ft 7 7ft + ft 
1546 46 46 + ft 

3 7% <ft 7% + % 
22 4U 4 4ft— ft 

6 Bft 8ft Bft— % 
1 4 4 4 + ft 

33013 12% 13 +% 

327 27 27 — % 

1026 3 2ft 3 + % 

1834% 31% 34 
811% 11% 11% 

9 6ft 6ft 6ft 
28 4% 4% 4% 

48521% 20ft 21 
30 9ft 9ft 9ft— % 
6536 36 36 

28 4% 4% 4% 

in 71% lift lift— % 
19514% Uft 14ft + % 
1614% 13% 73% — % 
35 5% 5% 5% 

64 34% It 31% 
25334% 34 14 +14 

3616ft 16ft 16ft 
*116 U 16 
2734% 24% 34* + ft 
211244 72ft 724*+ % 
4912 lift 11ft + % 
23634 23 14 + ft 

9417 16% 17 +% 

6819ft 19% 19ft + % 
5916ft 18% 16* + % 
333424% 




124% 

1619* 

« 

24% + * 
19ft 

1.28 

3J 

2439% 

39% 

39% 

56 

U 

516% 

10ft 

10ft— ft 

.16 

U 

7217% 

Uft 

17 —ft 



44 5 

4* 

S + % 



7024 

23ft 

23ft — % 


32 33 


El LI red 
EIP 
EMF 
EMPI 
EZEM 
EoMCPt 
Eoum 
Enrico! 

EotnF 
EconLb 
EdOnp 
EICMc 
ElPn* 196 93 
Bkm 

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Eta>» 

BdorB 
EMrM 
EftcBlo 
ElCotha 
EtoNud 
ElcRnt 
EtoSct 
Etcsen* 

ECpiarl 

Etetms 

ElttWW 290 79 

El ran El 

EmmAlr 

Emuax 

Endto 

Endvco 

EndoLs 

EndwtB 

Enaoss 

Eftmth 196b 55 

EitftCnv 

EnFoct 

En«Oll8 

EnoRsv 

EhbPhs 90 19 


■ 4* 

.12 U 98 8% 
I 2* 
68 6W 
1U11„ 

37 7* 
712ft 

194 3J 21531% 
99* 3 3316 

. 4110* 
30415 
. 14 Uft 
15010% 
11 *9 
48 5* 
1 Oft 
TV 7% 

3020% 
9913% 
2416% 
5 5% 
500% 
710% 
3336 
3411% 
9 8ft 
1796 7% 
20 3% 
3 6ft 
106611ft 
405 7% 
297 U 
820% 
108 W% 
1311% 

lit 

1715% 


6* 

7ft 

2* 

6 % 

10 % 

1% 

7ft 


4* 

8% 

7ft + ft 

6ft + ft 

n * + ; 

2 + Ml 

7* 

72% 12% 

31ft 31ft— U 
9ft 9ft 
164b IOft + % 
14* U + % 
10% 10%— ft 
16% 10% 

16% 16%—% 
5% 5% 

4ft 4%— % 

16% 10 + % 
13 13%—% 

Oft 13*—% 
16% 16%—% 
5% 5%— % 
lift 12% 
lift lift— ft 
35% 35ft— % 
10* 71 + % 

84b 8ft— % 
7 7%—% 

3 3%— % 

6 % 6 % 

71 11% 

6ft Sft— ft 
IM 14 + % 
19ft 79ft 
18ft 18% + % 
17 11% + % 

7% 7%— % 
ft ft— % 
Uft 15% + ft 


SOW* Nat 

160S HU LOW 3PJ6.CB-BO 


EMPub 
EnfrCnt 
Enunta . 

ErrvSv s 
EnvrTi 
EnvrTit 
EnzoBI 
E|W« 

Eooot 
Equfon 

EOIBOI 

EqtwoB 198 53 
EatOll JD ZB 
ErtcTl 95e 29 
EtMjk 


94b -39 


EVB5UI 

Evryd 

Exowlr 


■ 15% 15% 15% 
1311% Wft 10ft 
119 Sft 5ft 5ft— V* 
4217ft Uft 17ft + % 
1218ft 10 10%—% 

524% 24 Mft + ft 
18713ft 13 13ft + % 
20 Sft 5* 9ft— ft 
43213% Uft 13% 

7 5% 4* 4ft— ft 
1328% 27* 27*— % 

222ft 22ft 22ft 
IS- Tft 7 7% 

30932% S 32%—% 

401 181 101 

8 4 4 4 

4015 Uft Uft 
29 3% 7% 2ft— % 

77 9ft 9 9% + ft 





F 


| 

FM Not 

J6 

25 

13ft 

77ft 

32ft— ft 




1S5 Sft 

6ft 

6ft— % 


JD 

U 

73 15% 

15 

15% + % 

FalrLn 

.16 

29 

73 6ft 

6% 

m— % 

FdrFtn 

FamHtO 



^ ^ ^+% 






25* + % 

FarmF 



111 16* 

Mft 

16ft +ft 

FrmHo 

1 


55 4 

3* 

3* 

FarmBr 

90 

22 

237 

37 

37 

FrmG' 

1.76 

7.9 

70661ft 


61% +ft 


24 

29 

5212% 


72 

FedGos 



28723ft 


22% + % 




127 5% 


.5 




93414 


73ft — % 




3030% 


30% + % 

FHthTs 



8652% 


51ft 

Finale 

M 

79 

4236 


36 + % 


13620* 


26* 

FTltrtk 


39 

716% 


16% 

Flna4ca 

JO 

59 

40 4 

Sft 

4 + % 


.10e 19 

25 7% 


7 — % 




54 7 
34613% 

mr i 

6ft— % 
13% + % 

FAtaBk 

1.13 

49 

4327% 


27% 







HAmpf 


59 

519 


19 + % 

FABPBA JO 

11 

24 9% 


n*— % 

FtAFed 



1212ft 


12ft -1 

FtAFln 


29 

700729% 

29 

29% + % 

FtATn 

us 

39 

740*4* 

34 

34%—* 

FtSnOti 

286 

£2 

34235 

54 


PCemr 






FtCann 

U2 

13 

3444% 


44% +1 

FDcrtaR 



9627% 

•'A*' 

27% + % 

FElTCs 

1J9 

39 

12339% 

2 

39% +2 




23073% 

i 

13 -% 

FFdlMc 



66919 

i-w 

Uft + Yl 

FFdNH 

JO* 15 

1220 

-9 

3D +1 

FFdBrtt 

jllfVr 

A 

17012ft 

: 

12ft 







FFFtM 

.Mb 29 

3221 


20% 

FtFKol 



57 9% 

n* 


PFMVO 

Jfe 19 

3913% 

15 

15% + ft 

FtFdSC 



2S3 Sft 

6% 

Oft + U 

FFIdSL 



U VIA 

9% 

9% 

PtFnd 

Utfb 47 

1037% 

' A4, 

37% + % 

PtFnCp 

90 

U 

7626ft 

' 1r 1 

26% + % 

FFRMpt 



1425% 

• y 

25% 

FtnBk 

90 

15 

6427% 


27* + % 

FHowi 

190 

47 

2129% 

:.jL 

29% + % 

Fincps 



917% 

& 

17ft 

FlltxU 



B1»ft 


19ft— % 

FlnstBk 



2215% 

FT^ 

15% + % 

FlnstCp 

1.06 

39 

5031 


30ft +1% 

FJerNt 


53 

7133 


32% — % 

FKyNts 

190 

14 

634 29% 

26 

29% +1 

FMdB 





41% + % 

FtMich 


ISO 

fr w ■ 

12* 

FtMhJB 

IJB 

59 

6421 


20ft- % 

FMUISv 



829ft 


29ft + % 

FNtGas 


17 

57X2ft 

37* 32ft 4- ft 

FNtcm 


3 7ft 

KI3 

7% 





29* + % 

FNtSup 

J»e 



22* 22* 

FNKB 

90b 39 



16ft 




■Jr? 


16% + % 

FIOhBn 

190 

4.1 


43 

43% +1% 

FIOUB 



Bl!" 

8% 

«%— % 

FRBGa 

96 

27 


I'Vl 

35% 

FISvFla 


3.1 



25% 

FSvWls 



PlfZ 

P 

9% 

FtSecC 


45 



22ft— % 

FSecJCv 

-76b 32 

9 * 4 

24 


istSrco 

94T 39 

314% 

14% 

14% + % 




5110% 

16ft 

M% + U 

FTenNI 

190 

4.1 

8539% 

EJ 

39% + ft 

f times 

LU 

15 


44% — % 

FtUFnwl 


■I 111! 

It. 1 

17% 

FtVotvs 

190 

11 

49033 

El 

32ft + % 

FtWFn 

.20 

34 

22 Sft 

Sft 

Sft 


220 

49 

852 

51 

51 — ft 

Floater 

92b 19 

T2I2 

12 

12 —ft 


India Lifts Restriction 
To Help Joint Ventures 

NEW DELHI — The Reserve 
Bank at India said Friday ft would 
allow foreign companies to export 
products manufactured by local 
firms without a ceiling an the 
amount erf money involved. The 
rule, designed to increase exports, 
is effective immediately, it said 

Until now, companies in which 
foreign firms hekf a stake of 40 
percent or more could not export 
products beyond a certain value. 
The ceding was calculated on the 
basis of the foreign company’s total 
annual sales, the bank said 




/ 



Major Challenge for a 
Divisional Marketing Director 

Composite technology - Rhdne-Alpes 

Our client Is the French subsidiary of a fast growing international group manufacturing 
structural materials for military and general industrial markets- 

Its future development strategy now require the appointment of a divisional Marketing 
Director. He will have overall responsabflity lor marketing and sales development, within 
the profit center, particularly in respect to increase foreign market penetration. 

A Business School degree, bilingual French/Engltsh and a demonstrable record of 
industrial and sales achievements In similar Industries with major national and international 
clients are required for this strategic position. 

Significant international, career opportunities are open to the successful ^ 
candidate able to contribute to the development of the division. 

A highly competitive remuneration and benefits package will be provided 

Full career details should be sent quoting reference TG 37502 to ^executive 

Nicole La Breuilly TEG, 18, place Henri. Bergson - 75008 Parts - France, ^group^ 


(Franca) 

ManagnocM 


-i at. . ti i 


A 

* 

4 

Hcralh^SSribunc 

] 

Reac 


reT 

han 


X 


“V AV/LV 9. X UAi 

of a Million 
Readers in 164 Countries 
Around tite World 


Business Failures 
Show Monthly 
Increase in Japan 

Return 

TOKYO — Japanese corporate 
inkrup tries rose to 1,753 in May 
from Loll in April but were down 
from 1,965 in M ay, 1984, the To- 
kyo Commerce & 'Industry Re- 
search Co. said Friday. 

Debts in May rose to 283.62 bil- 
lion yen (S 1 .13 billion) from 28 1 .84 
billi on yen in April and 269.53 bil- 
lion a yur earlier. 

lie rise in bankruptcies is due to 
slower U.S. economic growth, 
winch is likely to lead to fewer 
exports, and a slowdown in domes- 
tic consumption, and housing in- 
vestment on which medium and 
small enterprises depend it said 
The cotmxtny’s figures are used 
by the Bank of Japan for its bank- 
ruptcy statistics. 



Sotelo 


NM 1 


TOO* 

fkob low jPJ*.oroe 

Fahey 



242 5ft 

5% 

Sft + % 

Ftaxstt 

•48 

3 3 


13% 

13% 





3ft 

3ft 

FtaCom 

Jfe 

7JD 

■L 1 . 

28% 

2Mb 

FtaFdi 

JO 

1J 


11* 

Tfft 

FtaGmt 




14* 

Mft— Vk 

RNR* 

JM 

U 

, . i r 

39 

29% + % 

Flows s 




15% 

15* + % 

Ftwracb 

31 

W 



14% + % 

Fenar 



%3-W til 

3ft 

3* + % 

PUonA 

Of 


F-T 


14% — % 

FUwiB 

m 


4217% 

17ft 

17% + % 

For Am 

35 

U 


31% 

31ft + % 

ForestO 

LOO 

55 

2016% 

17* 

18% 

Forarti 



as a% 

8% 

■ft—* 

FonnF 



20122% 

71ft 


PortnS 



266 1ft 

1% 

lib — * 

Forum 

JDK 


1112 f* 

9* 

9* + ft 

Foster 

.10 

2J 

305 4ft 

4ft 

4ft— ft 

FmkCb 

L20e 9J 


U 

13 

FrnkEl 

JA 

17 

215 

If 

15 

FmkRs 




» 

33ft— tft 

FteeFdt 




8% 






11% 

.. 

lift + % 





25* 

25% 




93 6* 

6* 

6* + ft 

mm 

32 

2.1 

18816% 

15 

u 

i 



G 


1 

GK5v* 

JB b u 

415 

14ft 

Mft— % 

GTS 




Oft 

4%— % 

(Mite 



1211 

12ft 

Uft 

GatohA 

JB 

3 

6644% 

44 

44ft 

Gal nab 



454 9% 

Mb 

Bft- ft 

GomaB 

.10 

1.1 

68 9% 

9ft 


Gandlfa 



595 7% 

7 

Ztt 





2* 

2% 




44645% 

44% 

45% + ft 

GnBireS 


25 

122143* 

14% 


GenCer 

.IDs 


223% 

23% 

21% — ft 

GnMoo 




lift 

11% + % 

GnPhvs 



111% 

11% 

11% + % 

GnShal 

JO 

U 


16 

u —ft 





1* 







3* 





7ft 

7ft + ft 





2* 

a* + % 

Genova 

.»e u 

25 5% 

Sft 

5ft— ft 

GaFBk 



46815* 

15 

15* + ft 

GerMds 

JB 

,9 

292 9ft 

Bft 

9 + % 

GeraiF 

JOe u 

1J 14 

14 

14 —ft 

Gfluon 

JO 

20 

413ft 

Uft 

13*— ft 

GtbaGx 




20 

20% 

GlIbnA 

1J0 

19 

24 36* 

21ft 

a* ft- ft 


S3 

25 

1217* 

17* 

17* + * 

GWCerr 

•63e 4J 

2T3 

13 

U 

BoklEs 

M 

13 

5530% 

20 

» — % 

GtfToco 



62 ft 

ft 

ft 





13* 


Gotl 




12* 

13 + % 

GouklP 

36 

45 

10117% 

16* 

17 - ft 

Graeo 


35 







122 8% 

8 












14* 

Mft + ft 




6 3* 

3% 

3%— ft 

GrnhSc 



305 5* 

5* 

Sft 





Tft 

7*— ft 

GtAmC 

.71 

35 

• 26% 

26% 

20% 

GfUcFd 

JM 


3212% 

12% 





21% 


GtSoFd 




11% 

lift + % 

GtWcnh 

JOe 7J 

25 4% 

6% 

6* + ft 





21% 


GrlfTch 



2 6% 

6% 

6ft +1% 

Gramon 



2313% 

13% 

Uft 





12% 


GuorFn 



10 8% 

8% 

8% + ft 

GuorC 

AO 

28 

621% 

21ft 

21ft— ft 

Goar NS 



04 5ft 

5* 

5* + ft 

GuardP 

A4 

25 

117 

17 

17 

GuasfS 



7913ft 

13% 

13ft— % 

Gultfrd 



1215 

14% 

14ft— ft 

GUApId 

JO 

2J 

46 7% 

7 

7% — % 

GHBde 



90215% 

15% 

15ft 

Gull 

J5e 

A 

912% 

12% 





H 


1 

HHOIIT 



1 4ft 

4* 

4* 

HBO 

JD 

1J 

98720* 

20* 

20* + * 

HCC 

JMe 


5710% 

10% 

10*— ft 

HEITx 



5614 

Uft 

13ft . 

HEINIn 



5 5% 

5% 

5%— ft 

1 HMD Am 


13612ft 

11* 

U* + * 

Koch Co 

J4 

1J 

123% 

23% 

23ft 

Haber 



34 19 

Uft 

19 + % 

Hadco 



6 4* 

4 

4* + ft 

Madxon 



111 2% 

2* 

2ft— ft 

HtSySyn 



40 * 

ft 

ft— S 

Halifax 

JMe 

J 

4 5% 

5% 

go +ft 

HtHml 



606 2ft 

2ft 

m + * 

HamOII 

.10 

A 

30516* 

14 

14% — ft 





6 





2110% 

9 

10% +1% 

Haroln 

56 

U 

15643% 

43 

43 -ft 


J4 

17 

56129 

28% 

28* — ft 

HrtINt 

UO 

51) 

2B132ft 

31ft 

32% + ft 

Hrttst* 

UO 

15 

5147 

46% 

46% — ft 

Harvlna 



10320 

19 

19ft + ft 

Halhws 



27 9% 

9 

9 — ft 

Hauser 

•4M 25 

816% 

1SH 

IS* 


.92 

25 

2321 

20% 

21 + ft 

HawfcB 

JB 

13 

165 9 

6ft 

Bft— ft 

HlttrCS * 



8013% 

U 

U + ft 

HHhln 



7 3% 

3% 

3% — ft 

Hlthdvn 



110 3ft 

3 

3ft 

HechBA 

.16 

3 

2425% 

25% 

25% — ft 

HechoB 

.10 

A 

19325% 

74* 

25ft + % 

HdnT 




3ft 

4 + ft 

HnUx 



147 Mft 

24% 

24%—* 

HenrdF 

32 

25 

21436 

37% 

37ft 

Heriev 



34 Sft 

5% 

Sft 

HSberCp 

1 JOb 44 

63 22ft 

22% 

22ft 




3610% 

n 

10 + ft 

HfltlRIO 



11 3* 

3ft 

3* 

HtoMSu 



117722% 

22 

22% + ft 




171 4* 

4% 

4%— % 

HolmD 

IJB 

IV 

9725% 

Mft 

25% + ft 

HmFFI 



33615ft 

14* 

14* + ft 

HmFRk 

JOr 4J 

11 Uft 

12ft 

12%— ft 

HmFAz 



11W% 

19ft 

19% 

Hmecft 



34 Bft 

Bft 

8* 

HmaSL 



21627ft 

27ft 

27* + ft 

Honlnd 

M 

9J 

46220% 

20% 

2D%— ft 

Hoover 

UO 

45 

11927 

26% 

26* + ft 

HrznAIr 




6% 

4% + % 

Itarrlnd 



11 4% 

4 

4 - ft 

KwBNJ 



6222ft 

77% 

22ft— ft 

HwrdB 

7.120 4 3 

1522ft 

27ft 

22* 

HunoTg 



17 4% 

4* 

m 


JSa 

J 

424ft 

M 

24* + « 




7311ft 

10ft 

lift + ft 

HunloB 

1AM 

27 

6246 

45% 

45* + * 

Hurcu 



52 4% 

4* 

4ft— % 

Hvbrttc 




23% 

23* + ft 

HvdeAl 



123 6 

Sft 

5* 

Hypanx 



11 9 

9 

9 + ft 

1“ 



1 


1 

IEC 



7 4 

4 

4 — ft 

IIS 

sen 1J 

30 5 

S 

5 + ft 

ILC 



1510 

9% 

9* + * 

(Confined on Page 16) j 


Northrop f s Hopes forF-20 
Are Starting to Gather Speed 


(Con tinned from Page 7) 
throp; Strong lobbying by the Air 
National Guard for the F-2Q: the 
rise of tlx so-called military reform 
movement in Congress, and the 
success of John F. Lehman Jr., the 
navy secretary, in getting General 
Dynamics to reduce the price of F- 
16’s used in Navy war games sim- 
ply by considering the F-20 as a 
competing candidate. 

“To meet the Air Farce's goal of 
40 tactical fighter wings by 1991, 
we cannot afford to Gil it with F- 
16s,” Mr. Courier said, echoing the 
committee's conclusion that “bud- 
getary constraints dictate adjust- 
ments in the long-range procure- 
ment strategy.” 

In its .recommendations to the 
House on the fiscal year T9 86 mQi- 
taiy budget, the committee direct- 
ed the Air Force to consider 
“changing the force mix,” meaning 
perhaps fewer F-16s and some F- 
20 s, at lower prices. 

The Guard's stepped-up lobby- 
ing, Mr. Court er explained was 
based on the feeling that “they 
shouldn't get hand-me-down's 
from the aenve Air Force, especial- 
ly with plans for the future calling 


Guinness Bids 
For Distiller 

(Continued from Page 7) 
but said: “Even in declining mar- 
kets, there are growth sectors.” 

Guinness officials said they 
could use Bell’s small glass-con- 
tainers manufacturing unit. But 
they suggested that they might sell 
BcITs four hotels in Scotland and 
London. Analysts estimated that 


the hotels would fetch £50 million 
to £80 milli on. 

An analyst at Grieveson, Grant 
& Co. said the bid was “rather 
puzzling” because both the beer 
and whisky markets have “gone ex- 
growth. 

But Colin Humphreys of Scrip- 
geour Vickers & Co. said Guin- 
ness’s marketing arguments were 
“very plausible.* He added that 
Bell, as one of the most profitable 
Scotch distillers, would bolster 
Guinness financially by providing 
“a big shig of UJC. earnings.” 

But analysts said the offer could 
well be subject to a review by the 
government. The Soots are highly 
sensitive about takeover raids by 
outsiders, especially in such a tradi- 
tional Scottish business as whisky. 


Gold Options (priet* In Vox-). 


Ml 


1575-1795 
1025-1175 
650- 800 
400- 550 
275-425 
U0- 225 


Nw. 


19902050 
149M600 
1100-1250 
7 JO 900 
575-795 
425 575 




26002750 

21002250 

1795-1875 

1400-1550 

1095-1175 


Gott 31450 -31 500 

Vftlears White WeM SLA. 

I, Qua! *i MoM-Mmc 
1211 Genera 1, Swkztrfcad 
Ttf. 31051 - Ttkx 2*385 


INTERNATIONAL POSITIONS 


European 

nvoooger 


A multinational software company, leader in its field is reorganising its European activities and is 
opening new headquarters from which it will coordinate the activities of its subsidiary offices in 
England Germany and France The location of the European head office is to be decided ipon with 
trie agreement of the future European manager. 

Trie post would suit a Manager of European natronafity, or an American with manyyears experience 
of working in Europe. 

He has experience in managirg a branch office or a subsidiary office and a thorough kncvwiedge of 
trie European market in system software for large mainframes He has already worked with American 
organisations and is familiar with their communication methods and procedures. 

ftyou consider tiis post to be of interest please apply with a letter and curriculum vitae to Bernadette 
BJuzet- Metfe- System, 2, ruedela Tour- des- Dames 75009 PAMS Fance-quoting reference 565ft 



... fp •... THE EUROPEAN 
PL ." PARLIAMENT 


In vteynfS p nr w ’ d i nral tWtii griABw a'Titry hi in thtEmiapean CoiiiiB iimiv. the Secret a riat of the 

EUROPEAN PARIX\MENTis orEanizii* Open CampefitioiK farthe recruitment of 

TRANSLATORS and INTERPRETERS 

into tihe Spanish and Portuguese la n guages. 

The posts win be based in LUXEM BOURG . 

Confitiotis of admis^oo (INTERPKETERS): . 

□ relevant university degree or eqmvalentprc&ssional experience; Q eipaitace os truning as a 

conference □ perfect e nrmnanri of .‘foarnsh eg Rntoguese and thwough knowledge of 

two ocher EC. ofBoal : . ^ ( 1 ). Knowtedg: of a third or fourth of these languages or a second 

tte rian hi^g na gp igdfigjnbiei □ nFt kn iAtirynf 1 ™^ rrf : the EjC nwnber-statestt'Of Spain or 
Ftatuga]; □ uraximuiit age (rf 40(2). 

CoMSdotH of »*aissioa {TRANSLATORS): 

□ rriwnmt rrnfafr ^ y fVg rra.rtrexpfTienrr mlhefiddof tjanstatkm ofai least 5 VeaiS* (filiati on ; 

□ mwi lm nr n eiwnAntaiy ienrawtedge in the arid flfwi rin anrics.law.ixiBticaca'ficifeDCe t D perfect 

command (rfSpudsfa/RxtuguesB and thorough knowledge of two other EC official languages (I). 

Knowledgeof t xbird or fbuitii of these languages or a second Iberian language is desirable : 

0 nationality ofooeof the EC. nrmbcr.staasorofSpainorPDrtugal; □ maximum age of 40 (2). 

The Nwiw ttf CwnpetitioT^i^BcaiinwJhmis and infoiTiMBon can be obtained ftofli; 

THE RECRUITMENT SERVICE EUROPEAN PARLIAMENT .L-2929 LUXEMBOURG 
quoting the following references: 

PErtWLA^ - Spanish language translators. 

PEJ95/LA - Portuguese language translatoR- 
PE/96yLA - Spaitish bmgoage interpram. 

PE/97/LA • Portuguese language interpreters. 

3o ensure prompt expedition ofapjtficatioD firms, cancfidaies arc requested ro give tbczr full name 

and address for corre^oodenc* in BLOCK CAprTALS. 

The European farEam en t ia an eqnal-owXirtunrtyeniployec 

(J ) The EC offidal bu^uages are Danish, Dutch, Engfish, Firadi, German, 

Greek and Italian. 

(2) FossibkMeinptions to theage-brnt are detailed m the Notice 
ofOompetition. 


for doser integration between ac- 
tive and reserve units.” 

Normally, the Guard obtains 
used warplanes from the Air Force 
or a few new ones through annua! 
congressional appropriations. 

"The National Guard pushed 
bard for the F-20," a House aide 
said. “They fdt they could buy and 
operate the F-20 for less than they 
could continue operating their old 
F-4s.” 

"Far and away, the Air National' 
Guard was a critical element'* in 
setting up the competition, a Sen- 
ate staff member agreed. 

Meanwhile, Lbe Air Force was 
also mining toward the F-20. as 
evidenced by speeches and con- 
gressional testimony by the air 
force secretary, Verne Orr. 

Mr. Lehman's success in reduc- 
ing the price the Navy paid for the 
F-16 was said to be one factor. “Orr 
felt burned by Lehman’s ‘aggres- 
sor* competition.” the House staff 
member said. When the Navy Sec- 
retary got General Dynamics to sell 
him F-lPs for $11 million, lbe Air 
Force was still buying comparable 
versions for $16 million. 

Although there is little doubt 
that the Air National Guard would 
like to own F-20S based on the 
plane’s technical merits, sources in 
Cbngress say the Air Force sees it 
more as a convenient device to 
drive down the cost or the F-16. 

There is also, these sources say, a 
great deal of uneasiness in the Air 
Force about continuing a monoga- 
mous relationship with General 
Dynamics. 

‘'What generates this is not Nor- 
throp pulling strings, but uneasi- 
ness with General Dynamics,” said 
a House source. 


U.S. f Growth 
Recession’ 


(Continued from Page 7) 

for 1985 erf just 2.9 percent over 
I9S4. compared with tneir forecasts 
of 3.2 percent only a month ago 
and 3.9 percent in early March — 
one of the sharpest declines in the 
nine-year history of the survey. 

About one-fourth of the respon- 
dents are now looking for a real 
recession — defined as two quar- 
ters of negative growth — next 

year. 

Some economists think the reces- 
sion will come sooner and will end 
in early 1986. Pierre Rinfret. presi- 
dent of Rinfrcl Associates, an eco- 
nomic consulting concern, says the 
latest consumer confidence surveys 
and income data “suggest the 
American economy has alreadv 
peaked and is sliding into reces- 
sion." But he expects declining in- 
terest rates and strong housing de- 
mand in keep the recession “short 
and mild.” 

“If President Reagan's tax pro- 
gram is in place by die first quarter 
of 1986,” Mr. Ritifrei says. ~it will 
stimulate the economy with a net 
uu cut.** supporting his forecast of 
a material upturn after the reces- 
sion. 

The outlook for sluggish eco- 
nomic growth, or worse, is worsen- 
ing the outlook for the Federal 
budget deficit. 


( SH. ... 

* mmn * J i % 

* * 

.Vim tin dr IX'jUiincMn 6Lui>» a 

, OUR *Prh YEAR. - -* 


ADVERTISEMENT 


INTERNATIONAL FUNDS 

Quotations Supplied by Funds Listed 
14 June 1985 

Tlw n«r asiat valiM WMtatlOM Mown betow ora supalltd by ttw Funds Ustad with t*a 
WB9te of toraa Marts whose quotes ore based H Issue prices. The fallowing 
morotool symbols Indicate frequency of auotaf kms supplied lor the IHT: 

(d) -dally; (w>- weekly; (h) -b+meirthty; (r)-rwjutariy; (II - bregalartv. 


AL MAL MANAGEMENT 
tw) A+MOl Trust. 3A — , 


Umrds tnrt Pad 


S 15683 Lloyds inTL Smoller Cos.: S1492 


SP 13590 


BANK JULIUS BAER 6 CO. Ud. NtMARBEN 

— (d ) Baertxmd SF 94850 —(d) Class A. 

— (d ) Conbar. 


— (d > Equbaar America. 
— (d | Equlbacr Europe— 
— td > Embaar Pacific — 
—jd 1 Grobar- 


(d i siDCkMr. 


BANOUE INDOSUEZ 
—(dll Asian Growth Pw 

—Oat OtvsrtMntf — 

— (w) Fl F— America _ 

— (w) FIP — Europe 

— (w) FIF — Pacific- 


SF 125496 — <w] Class B-U9. — 

. 6114290 —tw I Cbm C- Japan. 

sfJ?«9o 

■e ,i¥7cm — twl MuiTIcurreocv, — 

.. ,ugm — Iwi Dollar Medium Term. 
5F 165990 Ooi lor Long Term , 

— <w) Japanese Van 


-69192 

-699.13 

.67997 


. S1ILS7 —fw) Pound Sterling. 
SF 6475 — iwi Oaufsetia Mark 
. S 1194 — (w) Dutch Florin — 

. 61190 — (wl Swiss Franc 

. 61697 


-SUL9S 

-SHJL5S 


C 1698 

.DM1027 


- p VKf 


siuo ORANGE NASSAU GROUP 
S153W PBISS7B. Tift HomialBJO) 46908 
* iaz.ro j Barar Batepnoan+i- 


— td) indoauez Mutt tends A 
— td ) Indosuaz MuHBiends B 

BRITAN N IA.POB 271, SI. Holler. Jersey p»„i cmwimiip 

-t«»» BrtUJottar mcame *6978* 

— (wl BrttJMateLCurr SMS Zil cmfann imrrnanonoi 

— td ) Bril. InttSManaoJwrtt 61962 

— <d ) Brit IntU NtaKTOTfarM 1 1.164" OBLI 


13390 


58794 


— (ft) Brit. Am. Inc 8, Fd 
— (wl BriLGMa Fund 


— !w) BrtTJWanaajCUrraricv. — 
—id I am. JOMO Dir Pvrt Fd. 

— (wl Brit Jersey Gilt Fund 

— id i Bril. Wend Lais. Fund 

— (d | Brit, world Tectm. Fund. 
CAPITAL IMTE RMATIONAL 


SUH1 


... 'OBLI-OOLLAI 

— twioau-VEN 


enwn — iwi um-i-rcH— 
— (w) OBU-GULDEN 
I iui _y j paro^-FUND. 


— td> PARINTER FUWb-~ 511090 

tl7U4 — Id 1 PAR US Treasury Bond 510896 



— <»1 capital inn Fund. 

~tw>r 


I Capital India SA- 


CRED IT SUISSE (ISSUE PRICES! 
— (d i Adlans Suisse* 

— (dl Bend VWor Swf, 


50930 ROYAL BOFCANADAPOBMAUERNSEY 

-Hw) RBC Canadian Fund lu 51190 

« 97 <i -++•) RBC For Eut&Padnc Fd — 5 1090* 

s 1391 "HWI RBC Inn Capital Fd. 52191 

-H«r> RBC InH mcame Fd 511 JO" 

-+td l RBC AMnCunsncr Fd. 52U1 

SF 38395 -flwl RBC twin Amer.Fd. 5994 

DM10M1 SKANDIFOND INTL FUND (464-236270) 


wllnt: Bid .1591" Otfar 5S59" 

IwlAct: BM SSJ3 Offer. —SS91 


—(d) Band Vtalar D-mark „ 

— id j Band voter us-DOLLAR— S11B97 
— (dl Bond Vtolor Yen— Yan 1074890 

: SF1KM 5VEN5KA INTERNATIONAL LTD. 

- dl Omvert Valor US-DOU-AR- S n DevanslUrv SqJjndw»f)l-377-ao«o 

- d ) Cgrosec — — SF 83690 — (b ) SMB Bond Fund 52293 

- d I C5 r«mgs— Bonds ,5. F ,?£g — Cw) SMB irrtt Growth Fund 520.76 

- frf i Fnrwll — inti SF 11475 

— Id I CSMonay Martet Fund 5106600 C S3 P- < IS5UE PR '^ E ®2 _ 

— ta i CS Money Market Fund DM 103990 — M J Americp-vaipr- — . — SF 5Tyn 

—4d 1 E ne raft Voter SF 16495 -(d 1 D^taric Bond Selec tion DM 11*1* 

— (d 1 Unec 5F 9B4J0 — » ? Bond B ejactl en 5131^ 

—td J Europe— Votor 5F1549S -td 1 Horhi Bond Selection- FLIgS 

—Id ) Pacific —V«or — SFI66S0 ^B>*"%nialor_ SFoSw 


— td ) Japan Portfolio. 


DHEXEL B URNHAM LAMBERT INC —(d) Sfarilno Band Selection 1 10279 

WaD — <5 > Swh» ForeUm Bond Set. 3F 107.17 

LO NDON E QjOl 72W797I — td 1 SwtBvotor New Sertaft- 5F321JI0 

! (w) Fltfttoury G roup U d _ ■ 51239V — (d ) Unlvftrsol Bond SeJeci— AFB79D 

m mK+estBr DfaeraMe dra 52093 —Id universal Fund SF 12192 

! -td 1 Yen Bond Sencflan y RW75J0 

w ) WlmJiesler HoKflraw UNION BANK OF SWITZERLAND 

IwtlMBrtdMrids Securities S/5 3%_ 54455 —Id j Ainca UJ. Sh. SF4J90 

tw) WorWwMe Special S/S 2%_ 5 1932.17 j 8«m-lny^______. BF Wj o 

PIT IN VESTMENT FFM — (d ) Japan-lnvesl SFM290 

— tM Con centra- — DM2696 — td ) Saflt South Atr. SlL SF477J0 

— f Id ) mn Rentenfand DM 9S.1T — <d ) Sima (stock nrlcol SF 20290 

°V nn m * u qy ? 1 SSSP** 5™**!* UNION INVESTMENT Frankfurt 

—(ml PAH ComnwBhf PooL. * — td 1 Unlnmta DM4SJ0 

—tin) Currency 8 Gold Pool — 1 16296— -in i imun M. DM2490 

— <m| Wndv Ufa FuL Pdol^ 5 592S1 “" -jd ) Unlrak DM 77.10 

—(ml Tran* world FW. Pool_ * fav.l* — — <d 1 unizins DM11K0 

F6.C mgmt. ltd. inv. advisers Other Fimis 

1. Louranoe Pountv HI1L EC4. OV6HM460 , , . „ 

— Iwi FK Atlantic S1Z99 * iS5S2??Jj w,E,,mBnts Fur * d ' 

—Iwi FAC European i 1194 wl Acttvea l rrtl 51196 

— (w) FLC Oriettfal S26J2 ml Allied Ltd — ■ . 53J0 

w) Aovlla I rwernatlonol Fund- * 130.10 
FIDELITY POB 670. Hondltan Bermuda r ) Arab Finance i ■ 587897 

— (ml American Vbluet Co m mon^ 59457 b)Artane__ S1955J6 

-jirJ Amnr Vahip* Cum.Pra( — simw w[ Trusteor inn Fd. iaeifi — s la.1V 

wl BNP Inter bond Fund 5 1 K1.90 

—ii 5 SSE? ll ° 'HI wl Bpndioiox-Usue Pr SF 139J0 

—Id ) Hdtmv Discovery Fund *10.17 m) Canada Gtd-Mortaoae Fd S 135 

— J HSfiSSSSS'Ife d I Capital Preserv. Fi InH 51U8 

—Id > FldWIW F« EawFuna__ . S5891 w) Citadel Fund 1)9? 

d ) CJ.R. Australia Fund 589) 

— (d ) Fidelity O rion! Field-. 52*61 d > CJ.R. Japan Fund S1&31 

~iHJ2i!K?El22i to L F !2 ia cteratand omiwro Fd. — *291150 

—Ml E«e Ey PogBc Wl CatumWa Seairttles FL1I4J7 

— Id ) Fidelity SpcL Growth Fd. 51433 b ) COMETE 5 81423 

— td) Fidelity World Fund. 53298 w) C onran . Fd. mn A Corti 8950 

FORBE5 PO B8B7 GRAND CAYMAN iw) Comron. Fd. Inn B Certs *2797 

London Aaent BI-BMR1 

— Iw) Dollar inaene ■ - , 

— tw) Forbes Hkdi UK. Gilt I 

— Iw) Gold Income 

— (wl Gold Appreciation. 

— (ml StrateotC Tradin g - — 

GEFINOR FUNDS. 

— (w) Enat Lnvcsmienl Fund. 

— Iw) scoittsn world Fund — 

— tw) State Si. Amertcsn . 


(w) D.G.C 


88892 


.... (d I D. Witter Wld Wide Ivt TW 51099 

ifm tb ) Drokkor invest.Fund N.V_ 51.13893 
td > Dreytu* Americo Fund ___ **.« 


833600 
1 11696 

516696 

CqntLTnuo L L h LLaiLA — I9I«4914M8 

GLOBAL ASSET MANAGEMENT CORP. 

PB 119. SI Paler Pert. Guernsey, 001-2*715 

S112JS 

5123.94 
514294 
S1T752 
51454 


i Drevtu* Fund Inn 

w) Dreyfus InterconNnent—. 
Iwi The EsMbUshtnem Trust. 

Id J Europe ooMpunore 

(wl First Eagle Fund 

0 ) Fifty Stars Ltd. 


Iw) Forarfund. 

' Formula Selection Fd.. 


..... FuturGAM SA- 

(m)GAM ArMtroae Inc . 


(w) 

Id ) Fendltaiia 


GAMerkn Inc. 

GAM Boston Inc. 

GAM Ermltoge— 


GAM France 

GAM Interna nonrd Inc 

GAM North America Inc 

GAM il America Unit Trust. 
GAM Pocmc Inc 


SF 10355 

5 1093 

51050 

10590 P 

511399 

510552 
13750 P 
510752 

5 148-96 

5 11950 


f ml GAMrint I 

tw) GAM SterL & InH Unit Thai. 

(ml GAM Systems me. 

w) GAM Worldwide inc. 

ml GAM Tvche SA. Ckn A 

G.T. MANAGEMENT (UIO Ud. 

— (wl Berry Poc. Fd. Ltd. 5992 

—Id I G.T, Aoolied Sdence. 51496 

—Id | G.T. Aeean H.K. GwKlFH 51256 

— (w) G.T. Asia Fund S3J6 

— td I G.T. Australia Fund *2197 

— td 1 Q.T. Europe Fund ..... . 5ia» 

— Iw) G.T. Eura Smell Cos. Fund 51192 


w) Fixed Income Trans, 
wl Forme lex Issue Pr 


53895 
_ 5 3U4 

51.17 

61 J7 

51492*51 

=.V?» 


SF 7394 

- 52*98 

tdfGavenun. Sec Fund* 5 92»s 

(d ) Fnmkt-Trust Interzlns DM4292 

Iw) Houssnwmi HMos. N.V 5 lUJO 

w> Hestta Funds — siosjs 

w) Horizon Fund 5 1.18190 

(m) IBEX Holdings LM SF lllio 

- . 5998 

514J0 

w) Interm uik et Fund. 530294 

d > Intermlnlno Mm. FA CL'S* 5479J0 

(r I lrd15ecurtlleB Fund 
[dl Inveeto DWS 

r ) Invest Alton ' 


■1 Japan Selection Fund 
w) Jmxm Pociifc Fund 

ml Jotter Pms. intt.LVi 

d > Ktabiwoit Benson Inn 
wl Klelnwgrt Bens. Jan, Fi 
w) Korea Growth Trust 
d ) Letam Fund 


w) Le we ra g e coo how 
a ) Uaulbaer. 


5 1122 tw) LuxfWML 


ml Maanatund N.V., 


Pact lie Horizon Invt. Fd _ 
PANCURRi Inc 

Parton sw. R Est Geneva 

Permol value N.V 



— Id )G.T. Dollar Fund 

— (dl G.T. Bend Fund 510.97 - , , .. s ._. 

— (d ) G.T. Global Tbdinlov Fd *1194 { d j Medjo jnnum SeL 

— (d ) (IT. Honshu PathBnder *2494 [B ) Metere. 

=!5!g:?:i2SJK,.^===. 'M ggsam 
=8S&T:fiS8B«c= imJSl'KUita 

ia> . imi (w) Novofac Investmem Fund— S9194 

HILL SAMUEL INVEST. MGMT. INT1_ 1A. (w) KLAJWJ= SI509S 

Jenev. PH. Bos 61 TH 0534 76029 (ml NSP F.I T c iS5in 

Berne , PJX Bos 5622. Tel4131 224051 „ ld» — 5 *= - 

— td) Crraabawl For East). SF 1095 i*»: 

— <d)CSF IBahneed). 5 F 2 A 1 V i r 

— Id) IntnL Bond Fund SV9fl j r 

— td) Ini. Curren cy U.S — Cb 

— (d) ITF FU ITochnoHJoyl— — — 112JM [w 


— (dlOSeosFd IN. AMERICA) _ 52892 (w 

Cd 

(b 




191112 

SF 199)90 

S19M79 


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PSCOImLN.V 

Putnwnmn Fund. 
Prl— Teen. 


I Quantum Fund N.V., 
id ) Renta Find 


Sli 

5191)93 
LF 253290 
LF 195558 


EEC TRUST CO.IJE RSEY] I LTDl 

M Seale St-SL Hrtlcr,-053+M3Sl 

TRADED CURRENCY FUND. 

S {d)ine.:BM »52 Offer SVJ15 . - . 

w r»i - mn 51050 Offer— ,510935 ■ ■ - E Omaro eBt _ 

INTERNATIONAL INCOME FUND R] ^S?2S? #1,0B,tS - i* «£■» 

—Id ) snort Term ;a; ( Acqo m) — 5197M 

— Id) Short Torm'A 1 (Wstr)__ 519232 5®. I sr'ii'??: “ A A“*P#9! ,rB — J.U* 
— td ) Short Term D' iAeeum)_ 

—jd ) Short Term ■B* (Dlstr) 


i Lons Term. 


5LT373 
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52291 J* 

JAROINE FLEMNQ.POBTOGPOHOKB Iw 

— lb 1 J.F Hons Kano Trust 53696 Iw! 

—lb i j.F Japan Trust Y4722 |w 

— (b 1 J.F JOPTOI TecbncXoCY Y 20972 tw 

' 5143 id 

5191 tw. 


F Jem TecnnataBV 

— tb ) J.F Pod lie Sees. (Acs) _ 
— (b ) J.F Australia 


...... Iw) samurai Porttelle- 

519232 {B } SCI/Teai. SA L u »wnfaouTB 

Seven Arrows Fund NLV 676793 

S hite St . Bonfc Eaulfy HdosNV S9J2 
strnteov Investment Fund—. 5 2074 

Syhfa» Ud.'(CtaHA>‘ 3093 

Tedma Growth Fund SF 02.99 

Tokyo Poc Hold. tSea) 59191 

Tokro Poc. Hold. N.V I1K« 

Transpacific Fund ssdjq 

Turaootse Fund S 10808 


LLOYDS BANK INTL. POB 430, Geneva 11 -.-.-. l - ■ — 

— Hw) UovAl InTTOoHur 511390 7 UNICO Mm nuS22 

— Hw) Llovd* Int'l Europe — SF 11690 H|uw — 

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*1I9» 

51L10 


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(w) T weedy jBrawne avnassB 


S 115697 

I192SJ7 


— Hw) Llovd* InH Income m 5F 32450 5" { 

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Chanae PAf SlOtoSl nor unit: N a- tef AwltaMe; N.C- 

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awoe p/vsiotosi wtrumt; njl 

New; S — suspended; S/3 

Gross Performance Index mar; * — iceaemoi-rrice- Ex-Couoan* ee rry-^i ., . 

« I w l Ll ?i. g -r.P^ r . Pr1ca Inc '' ^ FfBilnCdi «teT++ - 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 15-16, 1985 


Page 17 


1USINESS ROUNDUP 


_ BankAmerica Corp. Denies Rumored Funding Problems 


t&ly, Nigeria Sign Accord 
To Exchange Oil for Autos 


. Reuters 

LAGOS — Nigeria has signed -an 
Vgreemeni wiih Italy involving ihe 
■j \ ;aner of cars and chemicals in- re- 
v-im for oil. industry sources said 
tf£day. They said the package was 
;• ; ^ued at 320 million naira (about 
• 357 million). . 

; : Under the agreement, signed in 
: ,% agos on Monday, Italy will take 
•<! ', 9.000 barrels per day of Nigerian 
v^Njude ofl. In exchange, the Italian 
\ : .Mr maker. Fiat. -will supply auto- 
1 1\ sfobiles and the Italian stale oil 
ENL wiD deliver chemicals, 
s w sources said. 

■ *i, 

. £ It is the fourth such barter ar- 
. • \ ^ngement agreed to by Nigeria, 
/■"-vs’hich faces a severe foredgn-ex- 
'^>- N hange squeeze because of the fall- 


ing pnce of crude oil. its mam ex- 
port Similar freemen ts, worth 
over S 2 billion, lave been signed 
with Br azil, Fiance and Austria. 

The- Organization of Petroleuni 
Exporting Countries objects to 
such agreements, hut Tam David- 
West Nigeria’s ml minister, said 
bis country would pursue the ar- 
rangements as' “a strategy for- na- 
tional aimvaL” 

TV sources said the four accords 
together guaranteed Nigeria sales 
of l 60,000 barrels per day of crude 
oil at official prices at a time when 
they, were falling on international 
spot markets. 

A similar deal was likely with 
West Germany for spare parts for a 
Daimler-Benz truck assembly plant 
in eastern Nigeria, they said. 


Campbell to Buy 
BelgumFirm 

Ream 

CAMDEN, New Jersey — 
Campbell Soup Co. said Friday 
that it had agreed to buy a con- 
trolling interest in Continental 
Foods Co. of Puurs, Belgium, 
for an undisclosed amount of 
cash. 

Campbell said Continental 
Foods, which has brands 'faying 
from 1760 , is the largest pri- 
vately held prepared-foods 
company in Belgium and has 
sales of about SI 15 million a 
year, mostly in Belgium and 
France. 

Campbell said that it intend- 
ed to retain the ament manage- 
ment and that the newly ac- 
quired businesses would 
operate essentially the same as 
they have in the past. 


U.S. Firm Signs 
Pact to Import 
Yugoslav Cars 

The Associated Press 

BELGRADE — An American 
company and a Yugoslav factory 
have signed an agreement to im- 
port 360,000 subeojnpact Yugoslav 
cars into the United Slates over the 
next four years, the Tanjug news 
agency reported Friday. 

The front- wheeWnve “Yugo" 
wiD be the first East European car 
cm the U-S. market, according to 
local officials. 

The agreement was signed 
Thursday between Yugo- America 
Corp., based in New Jersey, and 
Crvena Zastava Factory of Kragu- 
jevac. 

The Yugo, with a base price of 
$ 3 , 990 , is expected to be almost 
$ 1,000 cheaper than the nearest 
competitor in its class. 


Return 

NEW YORK — BankAmerica 
Corp., moving to quash rumors in 
U.S. credit markets that it has been 
having difficulties since its June 4 
forecast of flat second-quarter 
profit growth, said Friday that it is 
not having any funding problems. 

“Federal funds activity is con- 
tinuing normally.” the bank's assis- 
tant treasurer, Kerin Ferrell said. 
“Our papa hasn’t traded at other 
than market rates on that day or 
since. ” 


A bank spokesman also denied a 
market rumor that a press confer- 
ence would be called sometime 
ova the next few days to make a 
special announcement. 

BankAmerica continues to be a 
large sdla of federal funds, Mr. 
Farell said. He added that it is a 
relatively small issua of commer- 
cial papa, with only about S 1.5 
billion outstanding at die moment. 

Banking industry analysts were 
similarly skeptical about the fund- 
ing problem rumors, which ema- 


nated from the bank's recent down- 
grading by various rating firms. 

Last week. Standard & Poor's 
Corp. lowered Bank Am erica's 
commercial papa rating to A-I 
from A-I plus and, earlier this 
week. Keefe. Brnyett e & Woods 
Inc. cut its rating to C/D from C. 

These downgradings also helped 
to spark more specific rumors Fri- 
day, morning, lata denied, that 
certain federal home loan banks 
had taken BankAmerica off their 


approved list of borrowers of over- 
night funds, analysts said. 

“The market is reacting as iC 
BankAmerica is the same as Conti- 
neoiai Illinois." one analyst said: 
“Its problems are nothing like Con-, 
tfs. whi«* grew too far, too fast, for 
too long." 

Continental Illinois National 
Bank & Trust Co. underwent a 
543 -billion bailout by the Federal 
Deposit Insurance Cotp. just ova a 
year ago after severe liquidity prob- 
lems. 




y j 

: ?^Wheelock Posts 
’ • Loss for 1984 , 
^Of$ 4 Zmiwn 

\ ?■ «’. . Reuters' 

. HONG KONG — Whee- 
;lock Marden tc Cos reported 
•; r Friday that h had an extraordi- 
. .i ?■> i 1 , nary loss of 56834 million 
■ ■ b- SjHong Kong dollars ( 547.4 mil- 
■ rjvtion) last year, mainly because 
• -s if write-offs in certain proper- 
‘ ^ l tty assets and other investments. 

• < | 'as weU as loans to a subsidiary. 

• f * A ... _ 

:]• -!• ; It had an extraordinary loss 
.* ;> iof 56.8 nuSkm dollars in 1983 . 

-^WheeJock repeated a loss after 

~ 7 ~ — ^extraordinary items of 28139 
‘ ’ !• ;< million dollars, compared. with 
. — earlia estimate of 70 mIImw 

*' a group of the company's 

' 1 independent directors. 

— — ^ The losses 
. pared with net 

439.21 million 

Hongkong & Kowloon 
1 Wharf & Godown Co. took 
pver the company in March. 
Wharf now has 969 pa- 
nt of the dares. 



com- 
in 1983 of 


■» - .'•! 


COMPANY NOTES 


Australia & New Zealand Bank- 
ing Group Ltd. said it will Increase 
its prime:lending rate to 17.5 per- 
cent from 17 percent; effective 
Monday. The new rate win be the 
highest m the country and com- 
pares with a 17 -percent to 1735 - 
peroenl rate charged by other ma- 
jor bank* ■■ ■ 

Hoesch AG, the West German 
iron and sled maker, expects this 
year's results wiD enable it to re- 
sume a dividend payment, manag- 
ing board chainnan Deilev Roh- 
wedder told ihg_annual meeting. It 
would be Hoesch’s first payment to 
shareholders since 1976 . Hoesch re- 
mained profitable ip the first five 
months of this year, while sales rose 
73 percent compared with the 
year-ago period . . 

HoDg.KoOg Industrial & Com- 
mercial Bank said some loans by 
the bank may not be fully recover- 
able. A special audit of the bank’s 
bodes wlQ be carried oat by Peat 
Marwick Mitchell & Co. The bank 
is owned by Overseas Trust Bank, 
which was taken ova by the gov- 
ernment a week ago. 

Hongkong £ Shanghai RanMug 
CorpL denied a rumor on the Hong 
Kong stock and foreign-exchange 


markets that ii is planning to ac- 
quire a 49 -percent stake mKaWah 
Bank Ltd. of Hong Kong. A Hong- 
kong bank spokesman did not rule 
out the bank being interested m a 
Ka Wah stake however. Brokers 
said the rumor also involved Chase 
Manhattan and the Rank of China. 

John Fairfax im , the Australian 
media group, and its unit. David 
Syme & Co, said, they mil launch 
an electronic finantiaMnfonnation 
and investment-services system in 
August The service, called Mon- 
eywaich, is based on the British 
Presiel Gtiservice system ronagpri 
by JCV Information Systems Ltd. 
of Britain. 

Levitz Fwnhure Corp. of the 
United States said its shareholders 
approved an agreement and merger 
plan with LFC Holding Corp. It 
said h expects the merger wiD be 
effective by the aid of next week. 
Levitz shareholders will receive S 39 
a share in exchange for each out- 
standing Levitz snare of common 
stock. 

MGM-UA Home Entertainment 
Group Inc. said its shareholders ap- 
proved the acquisition of the re- 
maining 15 pecent of its outstand- 


ing stock by MGM-UA 
Entertainment Co. for S 23 a share 
in cash, aspart of a merger estimat- 
ed to be 5128 coHlioo. 

Reliance Financial Services, a 
unit of Saul P. Steinberg’s Reliance 
Group Holdings,- - reported that it 
has sold most of its 1 0 . 4 - percent 
stake in Wickes Co. In a filing with 
the Securities and Ex change Com- 
mission, Reliance Financial sai d 
that it now.boids the equivalent of 
a 3 . 9 - percent interest, which is still 
the largest single shareholding. 

Standard Ofl Co. (Ohio) said it 
has signed a 25 -year oil and gas 
exploration agreement with Qatar. 
Sohio, a subsidiary or British Petro- 
leum Co., will finance the explora- 
tion costs, Qatar's oD minister, 
Sheikh Abdel Aziz bin Khalifa al- 
T hani, told the Qatar news agency 
after signing the accord. 

Texaco Inc of the United States 
has offered to sell its on-shore and 
off-shore oil concessions to Japan’s 
top petroleum distributor, Nippon 
Oil Co., the Japanese company 
said. Nippon representatives are 
visiting the United States to negoti- 
ate with Texaco the toms of a 
transaction. 


j Floating Rate Notes 


June 14 


Dollar 


Allied Irish fS 
Allied Man 
Aidea irim 8 ? 

ANcd Irish Pen 
Arad Bkg Cora euH 
AHenncFbiHM 
AutneistasK 
Bco Comm IMK 
Benito UwraM 
BceDI Rama »/*l 
Bco CN Romo 93 
Bee Santo Spirtte*: 
aan 0 B*Bk(BMI«D 
Boo Coraw 
UOreetento 
BkGraecen/w 
Sklrelanaiv 

Bfciraionon 
Bk Montreal V 9 
BkMenHeoiet 
BkMortreolfl 
Bk New Vert W 
BkNDMScsMWn 
Bk mm seoNo M 
BkTotvon 
Bk Tokyo M 
Bk Tokyo (7 
8 k Tokyo FeOO/W 
BkTekvo Ded 8 /fl 
Bmkomoricno/sw 
Bookors TrusJ OS 
BatkersTradW 
BNCapiloiH 
Ball Fin | 7^1 
seitl 
9 H Ini ft 
BMIntf] 


Bali 
Baal* 

BtoS 7 

Bfcsoda 

BiceJanB 

Bton 

sir 

Bool* 

BmlS /91 
Bop Jail* 
sup as 

Ba Parties Pcra 
Ba warns BUM 
BonetovsO/SK 
BordoysO/SW 
Borders 0/5 Pera 
BardanO/SW 

BeWumpera 

BrlSum DeCWAU 

BetoomBD 
Bftoom BC«S 
Bergen BkM 
MivenUMm 
Betoum 74 /B 4 
BeteUon OdWAM 
CcceW 
axsOS 
Cnatoes 
cm w 
cm so 

SiKU 

ahe w 

Cnrtrrel S+LN 
Central imW/K 


Coupon Rone Bid Askd 
M. » 13 WAWJM 
9K 17 -H KXUH 0 CUS 
oo. awn Karaaoa 
Wh »nn.u«uB 

m. iM9jaamak22 

9 27-00 tOaUTBlC 

tv. 07-11 ?Ua 9978 

i Bsuweiwan 
T* Z 8 - 1 D WU 51 DELS 
7 *. 09-12 99 JS 
757 S MS 993 99 Jl 
Sh 29-11 992 # 99 J 8 
■ IV 10 BBSS 9880 
TV. 0 M 9 99^8 9 VJ 0 
90 . U-« 9 SS 8 99 JS 
M W 8 9 XU 98 J 6 
m iHiiausiBaAD 
9 2 M 7 9950 10825 

9 A 2 Mi UCLCKA 5 } 
n va T 08 J 710 U 7 
Wh n-lIWUMOM 
fH TM 7 99 XS 99 J 5 

n. tub soe.v7wnm 
9Y. 1 H 7 M 8 J 0100 JB 
Itk 2 siBn&ewus 
8 % 2 M 7 T 0 QjnaU 7 
H T 9 -B 7 180.1010028 
w> sun raazzioLn 
t* n-K lOmsratLH 

9 yi 2 BMW 88 UOlN 
7 % 1149 na 9972 
Wi 2 Mi VXLUV3UT 

h iMeian.mao 22 

ID*. XW 9 SBJ 7 99 J 7 
M • UKL 5 S 18 BJS 
99 * 1108 VILSilKUi 
TV. 17-18 9981 99 Ji 
PR, 1547 IKLXOirOJO 
HK ZM 9 W 0 J 71 (niJ 7 
9 H X 46 100.1010025 
tv. 2987 1 NJK 10 LU 
91 * J 0 - 1 D 1085 U 0 UI 
to 2 M 7 1002310823 
Ito UW 1005310623 
9 ft 1*08 tOOMIOI-IX 
M 31-87 106.1118821 
1 ft 11-72 UOSJWU 3 
791 . as-nrvsrmv 
SVk 17-11 SXU 2 U 652 
Ito 0 M 9 1012 * 1012 * 
9 ft B-® 1881518025 
79 * 17-18 1955 9925 
79 W 11-09 1065 * 1005 * 
9 ft 8*88 19815100125 
to 31-07 M 895 WLQS 
to • 18040 - 

to BVU 1004310853 
10 ft BM 9 108 S 10045 
9 ft 13-01 1082210622 
(ft 13 - 12 10821 10621 
Ift 7688 99.95 18605 

8 2 M 8 9924 9944 
8 ft TUBWoomu 

9 IM? mtnWJ7 

9 ft 0987 1081118821 
» 9 * 11 - 1 * 10058181141 
9 ft tMB 10058188*0 
to 1586 9927 TKLC 7 
I 09-17 MQ 481 BL 3 
9 ft HQ 4 Bie 05 D 

7725 8989 9941 9928 
Sft 2*89 79.75 9945 
7 ft 3 M 89855 96 JD 
91 * 1687 HXU 01 0040 
Oft 29 - 119921100 X 6 
(. 912512-11 994 * 9956 


/Met 

Chose MonDrS 93 
dose Man Cora 89 
Chase Man Cora Oa 

ChemicoiM 
cnemltnl 9 * 1 WWW 
ChrMkaOa Bk 91 

Cnrtsttank) Bk M 
cmconiAiio 9 &|grUvi 
Otksro 8 eoM 
aikoroOdf* 
CBadW 
□ItaroPera 
aBoeraPnp 97 


CammafTb* NomBB 
Comra Ud) Montreal 91 
On* FlflCl.CW 
Council Ol Ctraoek} 
Cd 66/96 
Cel 96/95 
cmFttt* 

Cm 97 

Caetne 87/92 
CeotneSS 
c Du non} even 

CrFoocftrM m 

crFer Exoori 92 
CrLvaonals 9 V 9 * 
CrLyomerts 67 
Cr Lyonnais 96(97 

Cr Lytmota B/M 
CrLvonnak 91/95 
CrUveanots 99 

Cr Lvemojs JidVN 

Cr t-yenmde JertI/ 9 * 
CrNotleneltt 
Cr MM loom 90/94 
CrNollnaMOB 
CndmieHtt 
OramonsSoim 
OoBchl RBMMW 
Den OB Nai Go* 9 ? 

Den NoreknNetM 
Den Norsks DeeJO 
Denmadi Jan 88/98 
Cftnmori; Od B /90 
DenoKrt 99/84 
DemerkPorp 
Ole ErgleOai 92 /W 
DresdnerBkW 
Dresdner FtaB 9 
Dresdnrr FUiR 
Eldorado Noel* 

Edf 99 
eB 98/96 
Edf 97 
Enel 05 
EnHOo 
Eat) 93 
£0198 
EKIM 
EOC 90 

Exterior lot 91 /W 
r «r r e,le 95 
Ferravle 92/99 
FW 0 Bd 99 
FknWi Paper 18/95 
First Boston 94 
Flrsl Bk SVS 196 
First Odasa 17 
First Chla*o 97 
FkeiChtexwiM 
First CUV Tana 15 
First Inter 15 
Fort 91 
Full lid M/M 
StnftncmCE 89/92 
SenflncM 0 el 2 /M 


ConoonNext Bid Askd 

to 21-87 HUaiOOM 
7 **, flH 9 9957 met 
to 0948 9945 9975 
to 274*1005710847 
7 ft 2648 9867 9883 
to iHtn&nuc 
18 ft Q*Q 9 MQ 25 KU 5 
7 ft 1448985318*8 
to 194 * 9948 99 JB 
to IMP 99 J 5 10805 
Ift 1349 181.1198131 
to 1 MD 195 DM 050 
to 3 WP 99.95 18885 
to 21411955 WUB 
to 26-11 1082218847 
lDft 960910027181142 
7 ft 17-1 1 9959 9949 
to 31-189957 M 8 S 7 
to 26491005510165 
to 89 -M MOHMOJ 4 

9 ft 2748 9882018848 
to 2749 9948 9978 
at 12 - 17 10842 KB 71 
7 ft 0*49 UB.W 802 B 
9 ft 274 * 1000010810 
to 09-10 1085710847 
9 ft 01-07 9953 10883 
9 ft 11-10 9807410144 
IOC. 23091003098055 
9 ft 89-10 1004318893 
9 ft 0867 1002 * 1014 * 
to 39-11 10895181(5 
9 ft 17-06 1083218022 
9 1667 M 03 B 900 JI 

9661 99(6 995 * 
IK. - 990*410874 

9 18671081110831 

Ito 1169 9004990079 
955 TMB 1088590815 

9 1 K 7 1003410821 
9 ft 27 - 86(002210041 
•ft 13-11 1804810858 
7 ft 8847 (08010822 
to (368 9955 10 BJ 0 
to 166 * 99.95 10850 
9 ft 0667 1083)0830 
9 ft 15-10 10871188 a 
9 ft 1668 1884710877 
9 ft 08681082710822 
to 7967 99 JO (COM 
«(* 71- (0 OB 57 MU 37 
8 ft 2661 99.91 WKl 
U 76611084798057 
to 3 M 8 108251084 

7768 90033161 X 0 
17681889118821 
... 069 9958 10880 
811122 * 0 * 99.12 9927 

10 81419 168281084 

Ift - 99(7 9937 

(« 2*419014018058 

9 ft 08 -P 100 X 010818 

Ml 9975 99(5 
to 2146 1080118812 
to 2509 KQflOW&K) 
10 ft 3648 181410850 

U 7 25-18 uxunoLn 

to 3067 9955 1 DU 5 
to 29-11 9973 99(5 
8 ft 1341 9925 9951 
Ift 07 X 6 1088318813 
L 4121 H 6 9947 9957 
■ft 7 MB 10 B 8 SU 815 
9 224792(8 95(0 

7 ft M 69 9973 99(3 

Sft 15 -n 18 B 05 U 815 

Mb IMP )D 0 .K 1 HtL 3 
to 2666 1081 * 1802 * 
to 2767 10817101127 


M 

9 V. 

7 ft 


laser /Mot 

Coupon Next Bid AxM 


Mb 

u« misuus 

G 2 t»fl 

7 ft 

1 W 9 HXJilTMUl 


t 

14-11 fUS H .15 

CAM 

It* 

31-11 lomaitttc 





7 ft 

0**9 rue 9775 


10 ft 


GrlncttnYi W 

Ift 

I t 

Gt western 8 f/M 

18 M 

ZMfftdffA 

WH Sonnet « 

Uft 

n-m f 0 tW 7 «L 2 S 


Mb 

79-11 fUO *&J 0 


R* 

34-10 9 PJ 8 fUO 

Hydra Quebec « 

fft 

73(7 18 US 10 BU 



BUI f 9 A 180(8 

id n 

ta. 

15 - 4 F 7 »J 3 10 US 

leteand KJVT/tt 


1 M 1 ffJBTfJB 




IbIB 

ift 

30-11 NUSMUS 


10 

ltd msowua 

1 retold » 

10 ft 

XMt WL 43 NILSI 

iretondM 

tw 

1087 188.1210022 

Itoty** 

10 ft 

BKf 1004710057 


Ift 

13-11 te 8 - 1 fKU 4 


7 ft 

■ ^ ’ 1 I ' I. 7 . 

CltohlT 

1014 

2 Hf K 0 . 15 WL 45 

Jo Maroon *7 

n* 

TMB ( 00 * 4180(4 

XoDFeMS 

■ft 

01-80 1024188(4 

KaONatn 

fft 

II M| 1 | 1 i I| 1 



to , I ' i L ii -^'l H I 

KtamvOriBenfl 

0 ft 

T*^TT 1 

kftkmort Ban V* 

Wft 77-09 we 1 (HIM 

Ktokmert Bm Penr 



Korve Dn Bk U/S 9 

Ift 

QS- 12 ff (8 KUO 

Keree EkA Bk tS/ 8 B 

Jft 


Uncsln 6 H.fi 


1 M 7 99 .M 108(0 

Uevta BkPera 



Ltordsn 


* 5 1 t .' ■! 

LkrvUeW 

Ift 

I r i ■ 

LbM*U 

tw 

U -10 1 D 0 l 38108 l 3 I 

LtebMM 

fft 

23-87 WJ 0 




LMSJMCV 


100(8 

Lta> 8 * 

■ft 


Lktift 

Bft 


MotovdaMAt 

7 ft 

m it. !,■ 

Mcdovi/aeO/U 

1 

J* 5 ' 

Motovxlo iartntl 

tft 

I . 51 - 1 .. it'irli it w 

Matayila DmS/*I 

Ift 

■ * j .r ■ i . nf. liHI 



W * li • L 1 1 • P 

MoaHgnN 

■ 

3 o«fy. 9 * too** 

MonHmH IWUy) 

• 

3001 IBM ff(S 

MgrMldN 

9 ft 

09-47 toOdmjl 

MorMktOt 

1 

m 1 m 

MerMSH 

M 4 



1 

* "i-i ■ 

Midland Bk Pera 


It TL 1 ! 

Mknendintfl 


■ ■ 

Mkttond lldl* 


^ 1 r~m 

MkBcmd lain 

1 

■ 

Mtokmdlntfl 

fft 

iS 1 


Mft 

8*49 188 * 2100(2 

Mltwl Fin 9 * 

lift 


Mon Grentea ft 

9 

1 * 2 ’ i ‘ ■ 

JWBkDnWn 

- * 1 ' ' ■ ' 1 *TT.. V 1 

MteBkDen «2 


iim-. i mi 

Hat Bk Dalroit *6 

«w 

t 1 r i > ■ 

Hal Comm Bk»m 

*ft 

31-06 fUO 180(0 1 

Nat west Pera SerA 


1 M > ( ' ■I 

Net Wed Peru SerB 


L ,,1 >-• % i r, B P 

not wot Finn 

9 ft 

1 r m\ 

Not Wat FIbSS 

fft 

ts-io mama i 

Not W»l « 

fft 

i.i mm \ 

Nat West M 

Mb 

U -10 100(710057 

Nat Wat Fin *2 


3 S -10 ( 01 * 71 01 J 7 | 

Nat Wal Fin Pera 

Ift 


NeetvOrM 

ID 

1 * fll 

New Zealand 17 

fft 

09 - 10 1 D 0 M 1 MM 1 

Nz Steel Dev to 

fft 

V- T |- V-* l .■ 

NtaeonCrH 

fft 

'TjI 1 ^ ■ 

Nkmoacrtf 

fft 

" ^ ’ I ' t m* '~T'. ■ 


fft 

f ijl I -I . 

Nertteutn 

» 

, Jil i.i lV 

Otal* 

Sft 


08**4 

Mb 

* . ■* T H 

OftB/W 

fft 

n-i# rooofinuf 

Petrel Cera lb U 

fft 

7347100(710017 

Petrol CoraMztl 

Ift 

81 -n 1003070041 


Issuer /Mol. 

piranm /*4 
PkBonken 86/91 

OutortondiBetlM 

iWWtI 

Rep BL Dalles 97 
RVl 84/94 
SaOana 91 /n 
SanwaHn Ffeu 
Sanwabd Fin 94/04 
Sanaa imFbi 97 
Scsndl Fin April 
SenndlFlnDfcn 
sconced mtn 

Sec Pnd He 97 
ShawmatCarpW 
SndBt 
Setf 9041 
Si* Ml 89 
St* Ml *1 
Sac Gen 9845 
SecScnMarM 
SKGanNBvM 
Sec Ben 97 
SnO >91 
Spam 92/97 
Spain 65 


SDOfeltl 

Stand Chari AueW 
Stand Chart 94 
Stand OMPtfl 
Stand Chari Marti 
5 teaa awi Mtsnviai 
Stand Chart Pern 
Slate Bk India 87 
SuBUtamaTst 92 /W 
Sweden 00 
Sweden KIA 5 
Sweden 92 /K 
S w ede n 89/69 

SmftflOAQ 


Tom MU 
Takwkl 92/94 
TOM Asia 94/99 
Tartoml? 
TeyoTst 92/99 
UP Norway 9 f 
UUO/S Bk If 
welb Fargo 97 
wnaGivnfl 
World BkPera 
World Bk 64 
VOketamofl/M 
Zentraisptassfl 


Canpaa Nest Bid ASU 

Ul> 2748 99(8 18860 
9 ft 166 * UO 2710852 
f IMt IBLS 4 U&M 
10 ft 27-09 1085 S 1 D 881 
6 ft 2668 9667 9927 
9 ft 1667 1006*10816 
I 85-12 1882318 a 43 
9 ft 2*69 10888 
r. 2667 1003118841 
Ift 196110810100 
9 % 1 MB 9975 K 85 » 
-to 2148 99.43 9953 
10 ft 746 « 100 - 84100*1 
1 ft 5168 M .47 «57 
9 ft 0748 99.12 99^2 
Sft 3867180(710817 
fft 246 * 10060100.10 
Ift 0-17 1082010848 
Ift 1666 *975 10825 
ID!. 0*69 KKL 251617 J 
Ito IM 9 lBOJSlOtn 
fie 07-11 mn 100 . 5 ? 
Ito 1669 1086110871 
Ift 38-11 1815 * 108 ** 
IS 3 -OB 108*516871 
to 286*9959 99*3 
(Oft 204 * 100*810090 
6 Ki 29-11 1 MZU 002 J 
ft 1661 H 880 
OVj 0667 (88231 0031 
Ift 20 - 1 ) laumuo 
HPv 1149 10025 
0161 9925 9 *aS 
to 07-11 1683318840 
■ft 2611 9958 180(8 
to 1 WKU 02510845 
Jft ®n 99 ( 7 * 9 .*: 
1 ft 1 M 7 V 9 JI 99 JS 
Sft 16(88928 99 JI 
Sft 26119962 98(7 
1 ft 26(1 108-3510840 
8 ft 0867 I 00 .lf.iau 
(ft ( 6 11 mJUtoJi 
Hft 1609 188*710877 
Id 1 : 1210879108*9 
to i* 6 l K&xtiaajB 
8 - 1883 * 1084 * 

«. 21619850 9*50 
81 , 360 * 99 JS (0825 
8 ft 12089925 99.75 
ter. 1609 10882188 f? 
7 ( 45391(4 99.94 
7 J 3068 18*3 BUS 
9 ft 02 -W 10850108*0 
to 1567 1005910 ( 1 *} 


Non Dollar 


tssuer/Mai. 


AntBkgfl 
Bk Montreal 94 
Bk Tokyo MM 
Bqladaeonfl 
cnicara 89 /vi 
On Gold Fin 95 
mens 9 * 

Cr Fonder 08 
Cr National 91/95 
Denmark n/fl 
IB 94 

BHaHimM 
LtavdsEuroN 
Mini 18 
RhelS 
SnctfBTO 

Stand Ctm StoPora 
VariaMralnl 9 l/ 9 < 


Coupon Next BW Askd 


12 ft 1*61 H 87 DH 
13 ft 276 * 1081 S . 

12 ft 2168 1880010 

12 ft 7168 108 ( 9 ) 08 >8 
17 ft 1568 9920 8*40 
12 ft 8569 « 5 S MJS 
IK* 216 * 1081*18039 
13 ** 6967 1881518035 
Uft 1666 1083118821 
17 ft 2 760 1084378050 
mb 1547 99.98 10801 
13 ft 1067 HO 091881 * 
12 ft 236199.98 100 X 8 
Uft 0768 99.90 W 8 D 0 
17 ft 8768 19.15 W 2 J 
127 * 2467 1004710857 
IS-W 1850 f *(0 
13 ft 276 * 99.95 1 Q 0(5 


Source ; credit Suisse-First Boston Ltd. 
LMdlM 


EMPLOYMENT 


L 


DOMESTIC 

VOSmONS AVAILABLE 


M'i ?; "-6 


■ If C 


MUR- >6 month oU baby dri. Lira 
; NYC, Washataan, DlC. country' 
. tn-Tr-ovnl CxriB ngpod. Betnr erofc 
■ 6 . Bor 126 , ShifSk NKJ 707 B 
SA 201 -S 6 WS 29 


6 D HOUSSEEPBI or eoude «a 6 
J tj| invnwfctoiy far unci malrj is 
heonoMcnirtixiis.Box 39 ,S.Sterfinft 
7 . fM 8460 USA. 


- PAlR/HOUSBCDBt LbkXkbiI 

fjrr from N.Y.C On* 7 yetr old 
-ak«rd Wtkpeflj. gr Hbsti ay Aw, 
JnoafL NJ. (S 7^8 USA - 


" v - i DOMESTIC 
; "^OSmONS WANTED 

'.it > WAYS AVAEAME .au PMR& 
i’s «n gr, nuns Upon & al 



jfp wyjdwkld !_ 
'jndon 730 8122/5142 1 
=£MPAGY. 


(MG BOGUN WOMAN, 7\. 

■has to horn Enafah_ Stria posGan 
USA wilh good fanMy for one yes. 
Vrite AOb. Wyiwn. ftn* Ma^Jn 9 
< 3 . (821 Andriraoid, Bsfjptn. T* 
:w} 337302 . ifc msisT 


l-MB HBIQi flkf 2 S. scab Scut- 
Jl Anwricon or AudraSon famSy, 
r Od. 1 st NoMmolar, tHws. 
-Wta Dsns, 1 bn JJL bum 
020 Herbtay, France; 


j. ^PAB JOB i witattag ly in Grert 

- "Pain v«*rt*d. Flese cartsfe Ate 
■ eriach, V*nSdr. L 7 T 1 0 Oehringeft 
, - - gdalbacK. Tefc ( 0)79417814 W«t 


’WAYS AVARAKE LONDON aniv 

. ' dbyraindarL 1 st dass dafly modi 4 
xjuffours. Sknw Burtcn, 730 8122 


5142 .ticeri 08 dciiptoyiiioilao«icy 

' Nn£MAN*S SENT 1 FMAN: Bv 

•* ‘ iih man staftpd 29 . Prefer traveL 
• .' MsUa somner pad. Box 41155 , 
' ' it, S 3 Long Acft Locrion. 

NO! GUO. rtudert. s«eb ompoer 

USA, Aug. gG are m eShnr offers 
r - ra. Write Pordcntou. 27 ran da 
fey, 30000 Nsnes, Itchm. 

■* , 8 U 5 H NANMB & Mother's Helps 


md.How.UK.Ti 




29044/5 


IN S 9 CS he w Mncrfc . can dnwft 
wfah/FrencH drwm#. Tab Pori* 
,2 55 72 ■ - 


■ 'GUSH/ FRENCH 

’ .i Lankan loakinB 

juemwrk in Park. Tat 7431959 


AUTOMOBILES 


- NEW CARS. DOT-CONVERTED 

import to me US. now owdcMe: 
; IOO SEC KatA/Wwino terther 
•'30 Sa BJoe-M*k*o'C 3 ray leaUier 
X> SL 8 kjo-Btack/nafamir» lecSher 

- ,280 5 L Anftnjafa/Gray laaihar 

- . 280 5 L ShmtluB/Bfed ieodw 

■Tsg’tsasasrgaf* 


721013 


11 » 7255 M 8 


-JSH 7 CABS DDMONVinB 
FOB IMPORT TD TTC USLi . 

cortfwnma sunroof, eto 
( 55 S 00 . Bl«r<a 5 CS, fa. My 
, or cancCtioning, leadw afc 



MBtCH)E 5 from EUROPE 

PB 3 EKAUZE CARS TO ftSTUS. 
SAFETY 5 TANOASDS 

D.O.T. & LPJL 

5 YEARS EXPSBBNCE 
A FRANK MC 

dfanopofe. tndana 317-2714108 


AUTO RENTALS 


AUSTRIA I EAST EUROPE USS 1500 
par day. Autohuda, ftona nfa ragd* 
dndrTX A- 1 Q 20 Item. Tefc 24 W 94 . 


CHAUFFEUR 

SERVICES 


UMOUSVE WITH CHAFTBR. for 

year slay in Bnopft you eon eni 
mfc Boyce or MnrcodBS & o mi! — . 
gual chauffeur From $150 -S 2 S 0 /day 
with unfiwted bos. GJ ( 73)30 57 52 
Franco 


AUTO SHIPPING 


HOW TO IMPORT A EUROPEAN 

CAB MTO THE USJL 
f les du tu pTl nxpfantt- M yvd ki l am 
npt da to brfag a car no ihn US. 
Arand Ugmy. mdudei new & 
°vtopr fc 8 s f buyigg te. 
DOT & EPA anvmn aoiose, a« 4 - 

tom deaonoa & shipping |«a* 4 ro 

on tugil as hgal praatL Beaue of the 

s trong doftr, yap an save up to 

USSISiUO^ wtw buyfag a Mercedes, or 
BMW m Europe & b upa rtng it to the 
Steins. To raaiw n nanod, (end 
USS 1 | 5 D fadd USS 1 SD far paim^ Kk 
Pi. Pnetfadi 313 T 

7000 ShiHgcet \ Wed Germany 


CAR SHPPMO A SBtVICB 
As spaddbfld Gamat car ferworder 
we arajtour mst amadna far Bio- 
peon pidwjp, toa/drfreigtelJS a»- 
toms, barkSna^ ccsweniM [X 3 T / EPA 
in New YortT Haudan, Lcs ‘ 

If needed we ako ' 

Free Bj rtenSftg 

DcnacH a v. xo&s chg, 

3 l fcotau ta Mte fcaBta. W. Gem 
( 0)51 1 - 73054 ( 1 , Tbc 9230963 


MATNA SMfflNG- 
|Wh 


MATMAi Antwerp ( 3 ) ZM 3&68 
23435 72 


5 HP YOUR CAR TO A FROM USA I 

■VIA ANIWBBP. APO SAVE, Free ho- 
teL SefiuV* mfegs- Aiporl deSvery. 
AMBCO, KriftSoat z Artmp, 
iBMtek td: 231 42 37 . fk 71459 .- 


HUMQURT/MAM-W. Germanyji 

hermanr GmbH. Tab 069 -U& 71 . 
■Muip dl owr Europe •ra/toeh tpt. 


WOHDWBE Car strong & renov- 

Ids ATK. W, Anfc*rrui 2 Z 2000 Art- 
wgrp,Sdgwa. 03 / 231 1 M 3 1 x 31535 


TRANSCAR 17 ay de Friadtand, 750 C 8 

I Park. Tofc m \At !**. hfcnTO 95 33.1 
Antwerp! 233 97 65 . Conrad 37 43 44 


AUTO CONVERSION 


EMISSION 

BtGWBESONG 

MODnCATION OF (CW MOOK 
CABS M COCO RU 9 M 4 G 

CONOITIOil. MOST: - 

MERCEDES 
BMW 
PORSCHE 
JAGUAR . 

FERRARI 308 
TESTA ROSSA 


HOW 

Kooo 
HOW 
K50O 
$5,500 

56,000 

ONE OF THE LAB 0 EST CEMTEBS 

•AU WORK GONHBB 4 I OR 

SHOP 

FINEST OUAUrr COMFONBdS 
* AU TESTWO M OUR OWN . .. 


58 CHEVROLET CORVETTE- One 
r 244 tpoaaSy node. Pvet mjecJion, 
. mw windows, 4 speed froftfittBioii. 

. . 30 % c ump ietely mforad. Finest, in 

SA & my to*- GaV a t write far 
• -to* portfafak PMp SamMy, 1174 


rtfic wWj 

canite, ujrote. f " 

«b fax paid Tefc Gam 
i 21 arWM 2 S 


s 8 GT 1968 . Aiwricai 

jout 180 /lOOsm. “ ' 
l^OPtattobediBcfa 
i«tad. FJtyjOO ram I 


lOUfc M EUKOK 1964 fate 

wtteriand (MCj 42477 , 


' 9 / AUDI 5000 TURBO USA modd 
* as meftrfit Doraer, Rotterdam. Ttfe 
Hated SHB 2 IV: 24418 


280 CE AU emus 

JUX3Q- Tefc SwBgqrr 07152 / 71/801 

1 AUTO RENTALS 


nt nun 1 h» jpni WfceOK-, 
guar, BMW, teata ga . mci eras. 
J rReo# Ororn xr, 75 D 0 B Pm^Tet 
0 J 0 - 40 - Tater 63 CV 7 F CHAAOC 


lABOBATORY 
CUSTOMS NOKBUU3E AM7 
8ON0B48 AVAiUKE . . 

USA ( 714 ) 898-2182 

TlX 7D43S6 FBtARI COM IB 


WAVE YOUR BMW, lieKBX^ 


■ & eotatan skndcnh 
ferimporttofrieU 5 . 0 ur»orin fagy 
docemantod & g w o rart set l toteop- 
pro^fa car s 5 years Acide^criy 

tedronmjwid-lte 

co* Or %wde far open* id pent, KB 

107111 ^ 09661 (^ 01 X ^7258946 


DOT/ffACONVaabNS 

h» IB specs. Shippaia bonfia war- 
mtapS- 


Btropt to USA 

SerposhtrgqJ 117 , 2 S 8 f HC Ue 
Hoguft Mated Phone JOj 70593 & 


DOT/H>A COWER«ON 5 .to.Ui- 

3 **- 8 «»ted'VM 

Sss 5 ®* 


pCT/EPA. 

■ Goodte 


Quofty . wrttacmhto.' 


Cdtari 


ten pidwp'SB-uS 
bond. 5 hfe«fa 


luredolar. 800 . 571-2637 or 
7444 USA.' Hr 807463 . 


AUT 0 S.TAX 3 REE 


BMWNnm 
Marti 46340 




INTERNATIONAL CLASSIFIED 


(Contmaed From Bade Page) 


AUTOS TAX FREE 


Good Morning 

DID YOU HAVE 

A EUROPEAN DREAM fl 

Thai ail us & buy \ 
your dream mr at 

INTERCORP. 

NTERCOMPBatOPEBSPCdAUZH) 
IN MBtCSIES BBC, JAGUAR, 

PORSCHE. BMW.HBRAI! AW 

ROUS BOYS 

We can comart cfcnoet cR other makes. 
FOR MORMATION: 

WTKCORP EUROPE 

56 . Bactondm 
M 15 KrBN)HOV&J. 

Tefc MB - 550055 . 

Tefax AUTOKJV L 
Oir own i trany x 1 - stkpp«n 9 Hnaror 
boncSig-WTafty. 


Over 1 ® or ewiury. 


TRASCO 

TIC MHKH 3 ES SPECMUST 5 
Swrifaserland, Wnrt Germany & England 

Tor few - LHD • E u moem dsivery • 
US ffA/DOT- 
SKppmg by tfw expert*. 

W STOCKi 500 SE/L- Sock. Gray, Bua 
380 SEC RteSByer 
280 SE/L- Baa, Sue 

HRECT FROM SOURCE 

Traca London IxL 
11 Howarden tfl-Londan NW 2 7 BR. 
Tefc OVlSB 0007 . 

Telex 8956022 IMS G. 


CARS FOR EXPORT 


MB 280 S, 280 SEA. dxte oF fi ants 

MB 553 . tedJBD SE. SD RIb 

M 535 OUST 
lond/Saoge Rover 1 + idoorVotfie 

I sa tisfied eDents dace 1961 
.ffA/OOT i roqtaad 


Ship 


PO Bax 4171 , totardaa Holland 
-Tefc H 31.10 52 S 6 B 2 Tbc 24418 


IMJLSA _ 
OfflOAL 8 C 3 US ROYCE 
DEALS FOR BELGIUM 

TAX FRS CARS 
ROUS ROYCE BBfTlEY 
RANGE raid LANDROVER 

rue MBOaBOURG 7482 
1170 Brussels 
TU: 2-673 33 92 
TlXi 20377 


10 YEARS 

We DeSver Cm to the Worid 

TRANSCO 

KeepeiD a aonstort Pock of more than 
■ - 300 brand new ass. 

anidne 5000 happy dfcws etary yeex. 
.. Sm lor free mArafaraWoR. 
Tr wm SA, 95 Noorddamr. 

Tel 3237 M ^^NAPS B 


reOMSTOOf 

IWta P 2 B S jeyrjjpdt 

Mereedes 500 SU'SaAEC, new 

ml m®y amen Ob _ 

other leadng n^tes. 

Santa day regidrcMP paaHe. 

. KZKDVI 15 

OanfartaBe % 

Tefc 01/202 76 1 ft Ttlp 815915 l 


NEW MERCEDES 

POBSQ 4 E, for immediate defiwry 

ROM STOCK 

tettawtekfewjng. fagr" 1 * 

bend, uni e eiite m USA 

RUTE INC. 


TRANSMUNH BBGWM. 21 <M 

itucfc MertSde*. BMW, ASa 


AUTOS TAX FREE 


. FCWMBKSDB FROM STOCK 
For ma taStOa dsfaerv; 

500 Sa Sraoketer/Bfad: leaRier, 
Nouticd fafcxt/Efcje lecAer 
500 Sa AstrdaW/Bfcia letter 
500 SEC Nauricd bfcje/Bkn fc ulh ei 
500 SEC Smofcegfcier/Biadc leather 
ZOCT CARS 
Watenle 71 

2275 AC Voordra / .Hofcnd 
Phone IQ 70^60255 
Ik 20010 in Hie name of Zoef Cm. 


OOEANWOX 
MOTORS GmbH 

Since 1972 , experienced car trader far 
Mercedes, Porsche, BMW. hraedde 

dtexy. Fnfl sente mpext/export, 

US. DOT & ffA, dtippfag far tourto 
and dealer. Ooscmrade fcfafan GmbH, 

Teerstoflenstr. B, 4 Doesseldorf. W. 

Germany (D) 211 - 434646 , 6 * 856 ^ 74 . 


DAWAJI TRADE 

MTL DBJVHIY 

We keep a brae ftocfc of 
most cw Erards 
Tefc 027648 55 13 
Tatar 65658 
42 rue Lem, 

1050 ' 


NBW/USED TAX FRS CABS 
BMW. Mercedes, Porsche, Audi. 
Soob, Vtoko, facuar, PeogeoL 
European/ LBASpea. 

<w S!S^^esJss^Ja id) 

Y- — ~n — " — 82-34 
4000 DeaeseEorfl , W. Germany 
let: 49-(021 lj -13 39 4475 
The S 5 S 445 S Aula D 


NEW MERCEDES/ BMW 
SOOSaWWBfae Leather 
SCO sa WltePdordno Lcdher 
540 SEC Bfae/Gray Ltather 
745 Etacp&re Bfce MstoSc 
3201 / 323 / BO 
Atench, West Germany; 

Tefc BP~. 465041 or fc 
Tbc 522851 - 10 am. • 10 pja 
Araerksn owned & operated 


DSKTFROM 
GOMAN CAR EXPOeiBt 
Mercedes: 28 LV 380/500 SE/Sa/SEC 
/SL 200-300 E and D. fate: 911 
Targa + Cabria* + TUSBOG. BMW, 
Al modife. Jogurxs 42 Scwrign aid 
others. Adc for prims and avaSable 
models. P 94 AG GxpL, FOB 11948 .D- 
4000 Dussefcfa rf. Tefc 02161/67322 or 
lb 8529239 pram d 


INTRACAR GMBH 

AGENTS REQUnro IN 
Para, Genova Beigtaa London, USA 
to dfartee fanpeta/USA spec cars. 
BMW, " 1 “ • - - ■ 


* BUY YOUR TAX FRS CAR ■ 

6 *-- r ^ f l- f ty, .. fc Dk jQjJ r ~ 

rofiLBUB* r c* hjc, iinii*, nmn. 

Direct from some 


Direct Crane E nrag e 
SSECnON 


Dirad from 
SECTION 

Max-PlandtStr. 

Germany. (OH242-604SS^ I 


GatfcH, 

■ Weal 

24109 




NnrMy leaded, DOT 1 ERA 


1500 SEC, bfadc/pdomina USS4QJOOI 
500 SH.metafcS*/Bf»;Mp 

Gates*. 100 , CM 330 MueOieta 
TdJ& 434099 , Tlx 8561188 


HOW TO GET A B RAND N EW 
GOMAN CAR Bl SHORTEST TIME. 
Cardod cut erne* fa Murid* 
War tiehe A er T« Free Cart. 
Tlx 5214751 Tei 89-8576 021 
W« set mw imam, BMW, 
Porsche, Fenui tad. ether mate 


■ RG TEAM 

Offer* tax free as* at low ericas. Al 
mdte* & type*. 1 flew &.tsad fat d eSr- 
cry. PO Box 2050,4800 tt SEJA l 
Hdfand. Td (0) 7^65130. Ifee 74232. 


USE) 1 NEW CARS. Bmtchote Sdes 

5 rfi ynS wgrkteda. Mte fc*. 

Owc^estei ihitorieftaSSior SR 

6 postoge to Btak Joaneo^ PX2.te 
4 Detune 5 . Deurna 2100 ; Bdgtum. 
lit 3279 S iwNC R 


ROUS ROYCE IW I 9805 ter Shxfc 

our 0 , 34 J 100 faa «Me / brawn. Aho 
IHD 1982 SWer ScSt. 21000 knL 
wfcrt« / red 8 oA mmoaicle. Cafl 
Jaha in LcndanJH> 20 B 00 CF, ar telex 
895602 ? TEAS G 


AUTOS TAX FREE 


rtPTHV C / POCSOC 
New/ued. Irnmndte dcfcvay. Fc 
Tefc Germany p) 6234-4092,6; 46 


ATX, NVTArfami 22,-2000 An 

Britain. Td 03/231 16 53 T» '• 


EXCAUBUR. Sm oar ad in Wednes- 


doys e di iorL 


LEGAL SERVICES 


LOW COST FLIGHTS 


ar TO SHARIAH. DURR 

CHAS . Attractive fora e one — , _ 
return ift/Uj frorn most Eeropeon cep 
parts every Tuesday return 
Wednesday. Agents inquiries 
come. East African Hafcte Gt 
Sales Aganli far Ausfnan Ai 
tpotl, 93 Regetas Street. First 
London WlfTTE Tefc til -734 
Tta 25859 PADAJJl 


LOW COST TOURS 

USSR 5570 . Yugosloria S 29 S 
Greoas 5331 Chno 57780 


SIUXNT A YOUTH FARES: Paris 


way 


Nioeiondon an 
F 690 /USV 5 . For 
^TVyQn tc* 6 ra ede ^ 
75006 Pare. France. Tefc 1 



West Coast S 145 . fare 2 g 92 9 CL 


HOLIDAYS & TRAVEL 


THEMAGNIHCBfT 
STH 1 A . 
SOLARIS 
7 AM) 14 DAY CRUISES 

So&hj Every Monday from Pirans 

they/Sit-like 

STHIA 

OCEANIS 

3 AND 4 DAY CRUtSES 

To die Greek Uands & Turkey. Soing 
every Monday & Friday from Pfeoaus 

opfdy ^jnsTmud Agent an 

2 -te- Serves SL Ath ens 1055 2 
Tetac 215621 , Phone 3 228881 

Paris tefc 2 S 5 80 36 
Vteh tefc 395 613 
Geneva w± 327 110 
Zurich tefc 391 36 55 


| HOLIDAYS & TRAVEL 


IB 1 AS YACHTMU Yod* Oxelm. 
AeadnteS. Aitam 10671 . Greece. 

RESTAURANTS 
NIGHT CLUBS 


liiii 

.1 FOR SALE A WANTED | 


li COLLECTORS 1 



BOOKS 

GOiPHjEPUBU CATION OHER fine* 

fid EOtion - outogre^hed copies of 
morauipt of Greg Anlhcnyi new 
book, “BuScing Ovfcneod Speed" ore 
Otar CNoarfto. Advanced golfers 
j only. Retainers wS not taderstond 
leverage & centrifufld farce tad* 
te* TTstrudion. 135 pages. Send 
S 21 . 9 S US to Grea Anthony. Bax 392 . 


EDUCATION l 



Cruise in Begone* 

to tho GRfflC ISLANDS 
EGYPT, ISRA& & TURKEY 

CHOfCf Of 7444 .) DAY 

ORB5B oaf of Afttetn (Flraaai) 

ABOARD 

THE MOOW 4 UOURY SUPS 


BNROTIfa CRUISES 


PENPALS 


G 8 BS AND GUYS a 9 carters want 

pen pte Detoft free Hermes Veriag, 
iTOMOTN, CM 000 Serib IT, 
West Gcrmcxiy. 


SERVICES 


ESCORTS & GUIDES 


INTERNATIONAL 

ESCORT 


USA A WORLDWIDE 

__ Head affia in New Yorit 
330 W. 56 ft SL N.YX. 10019 USA 

212 - 765-7896 

212 - 765-7754 

MAJOR CRBXT CARDS AND 

a*OCS ACCSTH) 

Private Mtaftenhfas Avaftftle 

Tta to— d Medte 
been featwied <■ the 
axdurive Escort S 
USA A Briemtenrd 


tap ( most 

by 


MuCkg radio and TV. 


* USA & TRANSWORLD 
A-AMEfUCAN 

ESCORT SBEVKX. 
EYSTTWHEff YOU AEE OR GOL. 

1 - 813 - 921-7946 

Cal free from Ui: 1400 - 237-0892 
CtM free EroraFbrfcfct 1 «Xfc 2820892 . 
Ldwm Eastern te araes you bade! 


CAPRICE 

ESCORT SBtVKE 
IN MW YORK 
TEL: 212-737 3291 . 


Parks. 


iL ta rtc - 

tAAene: 

[ffcw Yorfc„ 
[te Angelee. 


,2660324 

.40032 


240805 

4757806 

.4826641 19 
2121 5991750 
213 } 8551736 


ItUXUW VHIA 5 FOR fee faw who 
'■“t^is.fr^-Hihseastatentpero- 
at jewjgagn prices, fa June 

gteto g N 1 jfctf TCdl up van 

SiftSBaffiaa g 


SHADOWS 

MADRID ESCORT SBV 1 CE 

CSH 1 IT CARDS, TBs 2509(09 


BRUSSELS. OUNTAL ESCORT Sw- 
mcc Tefc 02 /S 20 23 65 . 


MM 5 FRNGTOK RC: Snfy Erorf 

Seme*, raa 549-1251 


DUSSBDOV CdopB BonoAodien. 
Itf dost eeeorteenece. 0211/221754. 


YOUNG LADY 

PA/lmerpreter & Tourian Gride 

PARIS 562 0587 

** PAMS 553 62 62 ** 

FOR A .REAL VXP. YOUNG LADY 
Dctagorihed, Begcrd, fcWiingual. 

YOUNG HJEGANT LADY 
PA. PAMS 525 81 01 

AMSTRDAM 182197 

TRLCTUL LADY COMPANION 
Otfnin^ Mucofat (nnri. 

Vff YQUNG LADY GUM 
Eduoafed # flftfldM and trtraid 
for 

* PAMS 527 01 93 * 

YOUNG LADY 1 RRMGUAL WFA 

★PAMS: 520 97 95 * 

DtSnNGUSHTO YOUNG LADY PA 

PARIS mpSOFMSnCATH) YOUNG 

lody companion. Why don't you 
phtae 277 - 01-69 for yov days, eve- 
rings & weekend*? An elegari b&v 
gud gride, even far your mooring. 


ESCORTS* GUIDES 

LONDON 

BOGRAVIA 

fieenrt ServiaL 

Tel: 736 5877 . 

LONDON 

Pbrtman Escort Agency 

a OdHern Street 

London W 1 

Tefc 486 3724 or 48 A 1158 

Ai major cards accepted 


★ LONDON ★ 

BCECUnVE BCORT SBCVKE 
01-229 2300 ar 01-229 4794 


* * 

LONDON 

DAY/EV 1 NNG BCORT AGENCY 

TO: 724 2972 
• * 


SERVICES 


SOOETR DIANE PARIS 260 S 7 43 

Men & women guides, security A re»P- 
ing cor uavicift B era - 12 pm. 


lew YORK. YOUNG CARBBEAN 

Lorfy PA. bAngud, «3 travel, air. 


PAHS NOTE THB NKXC AT ONCE 
757 62 48 . Trustful VIP. Inly, travel 
oompowoa 




i, Lifc! .JL-ijiM 



4 ■* » ■* * k / B i j 


HONG KONG K -671267 VIP tody 
(Otern/aropeoa) camparian. 




r^MNriH 4 -riiite 



OJ: ’ i : ■] U >j 


V‘ 


FRANKFURT 069/233380. Youig 

lady, VIP. - PA - companion. 


SERVICES 


TOKYO 475 54 80 Young Lody Cbm- 


HONGKONO 5*7954823 European 

young lody compomoa. 


WEST NMAN LADY Campanian Tefc 

London 381 9 B 47 . 


HONG KONG 3-620000 Yang lady 
■ lAgta/Wedern) Camgaejon^ ^ro 


LONDON MDY OOMMNOtL di 

ocaniotft Please tel (01) 821 Qa3 


SERVICES 


PARS NLMGUAL ASSISTANT 
bus mm exscutriei 500 SB 17 


PARS YOUNG SOPHIST1CAT® VU> 
laty, Irftnoual PA. 256 05 95. 


FRANKFURT, MCE A attractive PA 
from 8 am. Tofc 069/293947 


PAHS LADY NTERPRETHL Travel 
companion, fail 633 68 09. 


ATtBC. tody co mp anion and pwon- 
d nnotart. Tefc 80B6194. 


Place Your Oauiffed Ad Quiddy and Easily 

ta«M 

INTBNATIONAL HBUVLD TRIBUNE 

■y Phone: CcA your local Off representative with your text. You 
wl be informed of the cost immediafely, and once prepayment a 
made your ad wD appear within 48 ham. 

Geefc The boric rate a S9.80 per fine per day + locdtaxei. There are 
25 letter*, tigre and ipacei in the fi« fine and 36 in the {blowing Knee. 
MWnttai ipoce i* 2 fine*. No abbrevidiore oooepled. 

Cite! Cade: American Exprca, Diner's Oub, Eurocord, Matter 
Cord, Access tad Visa. 


HEAP OFFICE 

fata (For daBofied anly)> 
747-4600. 

HJROK 


LATIN AMERICA 


: 26-36-15. 
Atfitotc 361-8397/360-2421. 
: 343-1 B99. 

: (01) 329440. 

fftedurt: (069) 7167-55. 
Lotaem« 29-58-94. 

Utec 67-27-93/66-2544. 
London; (01) 8364802. 

: 455-2891/455-3306. 
V. (02} 7531445. 
Norway: (03} 845545. 

*; 679-3437. 

: (08)7569229. 

TM Aviv: 03455 559. 
Vienna; Contact Frankfurt . 

UNITED STATES 

New Yorlc (212) 752-389a 
: (415) 362-8339. 


t Airae: 41 4031 
(Dept. 312) 

Ceraaaa: 3314 54 
Gaayaq(rifc51 4505 
linn 417852 
fawn 690511 
Srai Joem 22-1055 
Santiago: 61 555 
Sao Paul* 852 1893 

MIDDLE EAST 


:24630s. 
Kuwait: 5614485. 

: 341 457/8/9. 
r 416535. 

Sate Arabia; 

Joddcric 667-1500. 
UAL: Dubai 224161. 

MR EAST 


r 39006-57. 

Hong Kart* 5-213671. 
Mania: B1 7 07 49. 

Saaui: 735 8773. 

Si n gapore . 222-2725. 
Taiwan: 752 44 25/9. 

Taky* 504-1925. 

AUSTRALIA 

Melbourne <90 8233. 
Syrtoy: 92956 39, 957 43 20. 
Perth: 328 98 33. 

Paddington, Quee n ela n d: 
369 34 53. 


ARISTOCATS 

landan Escort Sendee 
128 Wfanxn Lonfan W.l. 
Al ate Crecfe Cord* Accepted 
lS 437 47 41 / 

12 noon ■ midnight 


London Tops 

HEATHROW / LONDON 

Tab 01-381 1950 


FRANKFURT SONJA BCORT Ser- 
>. Tefc 06968 34 42. 


ESCORTS & GUIDES 

JASMINE 

AMSTBBAM BCORT SBEVKE. 
TB: Q20-366655 

MADRID INTL 

ESCORT SBIVICE 

TEL: 2456648. OB8T CARDS 

ZURICH 

CAROUNE ESCORT SBEVKE. 

Tel: OT/252 61 74 

ZURICH-GENEVA 

THiSr®cBS!S^»te 

ZURICH 

SeaearthaTs Eeeart 8 Gride Service 
Tel: 01/57 75 96 

* GENEVA - FIRST * 
DIULY ESCORT SHttflCE 

Tel: 022/32 34 18 
-fc Weekend 6 Travel 

ZURICH 

ALEXIS BCORT SBtVKE 

TEL 01-47 55 82 / 69 55 04 

. GENEVA BCORT 

SERVICE. ToL 46 11 51 

L 

L^i-^V^VV'i'-VvrfiS 

r' V .'■* 


IflfOONlBnE ESCORT Servo. 
Tofc 01-373 B849. 

AMSTaPAMBnaeb. Hague. N. 6c 
race Eojori Sermee. fQQ) 760797 


ESCORTS ft GUIDES 


LA VENTURA 

NEW YORK ESCORT SERVICE 
212 - 888-1666 


ROME OUB BJROFE ESCORT 
& Gride SerteTefc 06/589 2604- 589 
1146 prom 4 pm to 10 pm) 

GEFCVA * BEAUTY* 
ESCORT SERVICE 

IB.- 29 51 30 

HYDE PARK ESCORT SBtVKE 
LONDON/ FCATHCOW/GATWSCX 
Tab Ol 890 0373- 

CfiMVA - BBT 
escort senna 

TH: 022/86 IS 95 

CHB5EA ESCORT SERVICE. 

51 Beauchanp Place. London SW3. 
Tefc 01 584 6513/2749 (4-12 pn) 


Wry* 

AMSTERDAM BARBARA 

ESCORT SBEVKX. 0204754344 

* AMSTBtDAM SHE * 

ESCORT SERVICE. 020-227837 

** MADRID ESCORT ** 

SERVICE Tel: 233.03.19 

MKAN ESCORT 

SBtVKE 02/6S503S 


GobHefc text 

Senece. 212-2238670. 

MARIA SOMDB ESCORT Service 
London 402 4000/402 4008/402 0282 


ESCORTS ft GUIDES 


AMSTERDAM. 

Hague. Rotterdam. 


The 

non 
-261202 



V1BMA - DESKS ESCORT Sernas. 
Tefc 523V355. 

DUSSELDORMXXOGNE-ExwiBcm 
Enq feh Escort Service 0211/ 38 31 41 


fcEW YORK; R8CS*s Escort Serwa. 
Tefc 212-581-1948. 


MADRID SBECnONS BCORT Ser- 
vice Tefc 401 1507. Crerft Ctnfr. 

MUNKH - BLOWY 4 TANJA Escort 
Service. Tefc 311 79 00 ar 31 1 79 36 

VIMNA VP ESCORT SBtVKE Tefc 
(Vieite 65 41 58 

lONDON LUCT ESCORT & Gride 
Service. Tefc 01-373 0211 

i,. 1 i - 

VBMA YOUNG BCORT 58W1CE 
Contact: 83 33 71 


coioGia/ njBsBDOUV 80m 

Ensfah Escort Sennoe 0221-524757 

HAMBURG ESCORT -fc GUDE 

te. Tefc 040/54 1742. 

•aw YORK CITY - Modematee Ev 
cad Senna (712) 757-6254. 


BRUSSB5. ANTWERP NATASCHA 

Escort Servia. M 02/731 7641 , 

BUSSBSpRW COLOGNE/ BOIM 
Damna Escort Stance 0211/ 38 31 4T 

MUNKH - PRIVATE BCORT + 
Gude Senna. Tefc 91 23 14 



toANHWT “TOP rar- Escort Set- 
we. 069/59-6032. ^ 

AMSTHDAM DOBJRA-S BCORT 
S«te. CT20-976Z72 

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Swvkb. 1 - 12 pm. Tefc Dl-23.2n.ia 



vice. Tel 01 2290776. 
































































































— ...sfci 


Page IS 


INTERNATIONAL HERALD TRIBUNE, SATCKDAY-SDNDAY, JUNE 15-16, 1985 


ACROSS 


ACROSS 


ACROSS 


Table Talk byvirgmap.abelson 


PEANUTS 


1 A brandy 
5 Gin 
9 Bill of 
umpiring fame 
13 Former 
^governor of 
" ■ Ariz. 

19 "H miotesoro” 


' 28 Jabberwocky 

' * word 

21 Second Mrs. 
Chaplin 

22 Elizabeth Ps 

■ tutor 

23 Bruno Frank 

play 

26 Stow in a hold 

27 Land of King 
TupouIV 

28 William H. 

Webster’s 

■ employees 

29 Acocktaii 
38 Rattler’s end 

33 Official with a 
list 

34 Having no key 

35 Crazy as 

36 Supports for 
crow's-nests 

37 British mil. 


42 Weill-Blitz- 
steinsong 

48 Lady of Sp- 

47 Start of a 
Shakespearean 
title 

48 Medieval chest 

49 Help 

58 Scented 

52 Clock numeral 

53 Covering for 
tanks 

57 Mount . 

peak in Israel 

58 Consecrate 

68 Golfer Irwin 

61 Company 

62 Natural 
fertilizers 

63 Calendar afabr. 

64 Author of "The 
Seven Storey 
Mountain” 

65 “Adillar. 


78 John preceder 

79 Country InE 
Afr. 

88 Pie in the sky? 

85 Home of many 
Shiites 

86 Nikita's 

refusal 

88 Before, to 
Byron 

89 Islamic month 

90 "Of Thee 


U 12 13 l* 


Is Te I III 1 I III hi |l~MTT|H II'I III II. III! 


I STANTO16MUNE 
IN THE RAIN-5E9PE5, 
THIS TREE LEAKS... . 


m-flsAUNETuwcys^ 
FROM AN OLD/ BILL 
BILLMAOLPJN (MAULDIN? 
CARTOON.. 


IN TWHATWAS^i POnV SOU 7 LUHATs i 

UI0RU7I WORLD / KNOUJ lANYTMUfcJ 

UlARg^UjARJTj^/l 


V-'" 


1*. 


130 131 132 




rwi 


91 Roadway 
material 


us^*as 




material 

83 Bates or Paton 
94 Airline 
employee 


BLONDIE 


154 155 156 


96 Looks for food 

98 Wildebeests 

99 Franck 

108 " tor 

Benny,” 1345 
movie 


MAKING WNNB3 > l 
ts LONB-Y vV-^ 

WOC?tC. ^ 


1 THINK I'LL. 
GET SOME T 
COMPANY _4 


67 Preminger or 
Kruger 

68 Stores or 
collections 

71 Adoreeand 
Taylor 

72 Commeal dish 


38 Bearish 
. periods 

41 Ash ,a 

Monroe home 


74 Set 

75 Likewise 

76 Eroded 

77 Indian 
princess 


181 Home of TV’s 
Ewings 
106 Coryza 
symptom 
187 Shield border 
108 Broad-topped 
hill 

189 Whit 
118 Flammable 
material 




-In* HASN'T 
| RAILS? Me 

It 


TfU 



1 

7M 



A 1 

rSU 


HEgHESr \ 

in 

L 




BEETLE BAILEY 


I5TT W 


111 Legal paper 

112 World's 
largest country 

113 Call 


I1CX3 J 104 1 105] 


DOWN 


DOWN 


DOWN 


1 Bell and 
Barker 

2 Expertise 

3 Any Venetian 
canal 

. 4 Some Paul 

- Revere 
products 

5 Minn, team 

6 Antelope’s 
home 

_ 7 Rhyme 
scheme 

8 Hamster, e.g. 

9 Falls, city 

- in Ore. 


12 Cartographer’s 
creation 

13 Discarded 


14 He married a 
Duke 

15 Parts of operas 

16 Williams play 

17 This may 
cause a hit 

18 Part of an 
ephah 


10 Freedom 

11 Vingt 

gambling 

game 


24 Head of the 
Unification 
Church 

25 Cast out . in a . 
way 

29 Sedate 

30 Port op the 
Strait of Dover 


31 Mutism 

32 Lawn game 

33 Capital of 
Senegal 

34 Man with an 
army 

36 Hatfield haters 

39 Welcome 

40 With morosity 

42 Boat basins 

43 . and ray 

bended a 

pillow": 

Confucius 

44 Actress 
Jackson 

45 Made into law 
51 Mark Twain’s 

elder brother 


© Nac York Timas, edited by Eugene Mtdesko. 


DOWN- 


DOWN 


DOWN 


DOWN 


53 “ Two 

Cities” 

54 Kind of finish 

55 Milk: Comb, 
form 

56 B. Parker, 

U.S. jurist 

57 Privateer 
59 Gem facet 
61 Tranquil 

64 Gourd used as 
a musical 
instrument 

65 TVs Miss 
Brooks 


66 Zeus, to Zeno 

67 Doing business 

69 Auto- racing 
city 

70 Hamlet’s 
companions of 
arrows 


72 Handle, to 
Hesse 


730rrwasone 
76 Movies' Dr. 

Kildare 
78 Upset 


81 Something 
reducing 
differences 

82 Bit of wheat 

83 Recognized 
rank 

84 Disconcert 
87 Swapped 
90 River to the 

Danube 
92 Staring 

94 Pillars sur- 
mounted by 
busts 

95 Actor Werner 


96 Quick 

97 Arena in At- 
lanta 

98 Author Vidal 

99 Cote cries 

101 Turf 

102 Common ail- 
ment 

103 Father of 
Sbem,toan 
Italian 

104 Rockefeller in 
N.Y.C. 

105 Shack occu- 
pant 




OH, FOR GOSH 
sixes' INVITE 
HIM FOR A 
PIECE OF CAKE. 




ANDY CAPP 


HELLO.THBgE. 
RUSE- ENJOY 
p YOUR FEW r? 
EUWSAW4Y? 


(very nice:) 

> FLD. 
WHAT'S NEW? . 


_.NOTA LCfT.raJBE, 
I CAN'T" THINK ^ 
OFArrVTHING... 


>amjSt 


FISKADORO 

By Denis Johnson 221 pages. $14.95. 
Alfred A. Knopf, 201 East 40th Street, 
New York, N. Y. 10022. 

Reviewed by Richard JEder 


BOOKS 


The inhabitants of Twicetown — it is Key West 
and named after the two dud nuclear bombs that 
fell there and that serve as a kind of shrine — wait in 


S CIENCE fiction at its best can do, in reverse, 
what certain kinds of history can do. Casting its 


O what certain kinds of history can do. Casting its 
intuition forward, instead of backward, it illumi- 
nates our life. 

The intuitions in Denis Johnson's “Fiskadoro” 
are luminous and suggestive. Thinking into the 
remnants of what may lie beyond a nuclear holo- 
caust the novel replants a marooned bit of human- 
ity as if it were a cutting, and recounts the old traits 
and the new ones that sprout from iL 
' The mainland of the United States has been 
destroyed, and perhaps other parts of the world as 
well. We do not know, exactly, because “Fiskadoro" 
keeps us in the hauntingly confined aide of its 
characters' own knowledge. They are a straggler 
community in the Florida Keys, which survives on 
the edge of the contaminated regions to the north. 


vague apprehension. Their transitional society is 
about to be replaced: they have no idea how. From 


about to be replaced; they have no idea bow. From 
the brief words of a narrator at the beginning, we 
gather that when Cuba, itself transformed, moves 
in, it will impose what has become an extensive 
plantation economy and a theocratic regime based 
on the Koran. 

Johnson's novel beautifully written, does not 
deal with this future except as a barely suggested 
shadow. Its focus is on' the transitional settlement of 
fishermen and traders that lives among artifacts of 
the past, scraps of memories and the uncertain 
shape of what is to come. 

They are a mixture of blacks, whites and Latinos, 


Deformed mutants — Los Desechados (the Des- 
titute), they are called — wander through. In the 
swamps, there is a community of drug-lairing primi- 
tives whose totem is a two-headed snake — another 
mutation — and who mntilaiB ihcir gpnifak to 
imitate it 

The three principal characters represent three 
stages of time. The one at mid-point is Anthony 



ABOUTj ^QOgj 

(sZ&ufc 


LtiNmlNMatWKth 


WIZARD of ID 




Cheung, a middle-aged clarinetist and vegetable 
gardener. He does not remember the pre- holocaust 


and they speak an unstable patois with a strong 
infusion of Spanish. They live by fishing, a kind or 


It is a quarantined zone, enforced by the ondes- 
rroyed societies south of it — notably Cuba, which 
bolds the region's power. The quarantine is tempo- 
ral os well as geographic. It has been in force since 
the bombs fell 60 or 70 years earlier, and it will end 
before very much longer. 


scrappy gardening and a few rudimentary crafts 
bartered with the traders who scavenge the de- 
stroyed settlements to the north for bits and pieces 
of what remains of America’s consumer output. 


They have old records and tapes, amplifying equip- 
ment and carefully mended strobe lights for com- 


ment and carefully mended strobe lights for com- 
munal celebration. Their huts are furnished with old 
church pews, car seats, bits of chrome. 


DENNIS THE MENACE 


Solution to Last Week's Puzzle 


gardener. He does not remember the pre- holocaust 
civilization but is dedicated to trying to decipher 
and hold on to bits of iL His parents had their 
children memorize the Constitution and the Decla- 
ration of Independence before burning their copies 
to keep warm; and in moments of distress, be recites 
passages from them. 

Cheung lives with his grandmother, a woman in 
her 90s who was a Vietnamese refugee. She alone 
remembers the prewar world, which for her was a 
series of flights. In a succession of brilliantly written 
passages, she recalls bits of her childhood and 
adolescence. But she can no longer speak, and so the 
testimony about pre-war civilization that Cheung so 
covets — the irony is searing — is denied to him. 

Cheung is also the mentor of Fiskadoro, a fisher- 
man's son to whom he tries to teach the clarinet 
Fiskadoro, whose name is a corruption of an old 
Spanish word for harpoonisl is a misfit among the 
fishermen and an outsider at the bonfire-ligpted 
beach parties held by his companions. He wanders 
off across the dunes and is captured by the swamp 
people. They give him drugs and mutilate him. 


WtHM \ 

wzem _ 


QZ~mA/m 

op-maoiM 


m. 





mil# 



L mer? J 


REX MORGAN 


' J THAT’S RIGHT, JJ 

SRApy — MY MEETING WITH 
TOMPKINS AND B ELLISON WAS MOKE 
ANNOYING THAN ANYTHING ELSE/ 

I WAS TEMPTED TO TELL THEM I 
WHAT THEY CAN DO WITH THEN? J 

v 1 JOB — BUT I DIDN'T fmgffll 


f MISS BELLI SON. ALSO ill 
KNOWN HERE AS THE 
PIRANHA, WAS RESPONSIBLE 
FOR THE INQUISITION { 
SHE'S AFRAID I'LL GET HER 
JOB AS SALES DIRECTOR/ 


[ dont Forget your five 

CtCLOCIC APPOINTMENT WITH 
1 DR. MORGAN, DARLING/- . 




m 



I naDQGD Daman ddddd qdejd] 
□□□HDD □□□□!! nnKjna oddd 
□OE3BQI3GIEI0CH1Q BDHQD(3I1BQ0 
□□□a □□□□□ aaaaa aaa 

□doqd anauLi □□□□bbo 
aaanouua □□ana □□□□□□□□ 
□□□□□do naaupnianaaa □□□ 
auuauD Daamj noun □□□□ 

□ LIDOD □ □□OB □□□□□ aSDDD 

□ana aaaa oaauu □□sduu 
aaa cnuaaaoaritiLj □□nuonti 
HUHunti □□□□□ Haanau 
□anacm aannuuDauaa bdd 
(jiinauu □□□□□ aaaa nntiw 
□jono anoDD oaamj oacau 
□ana Buna auaaa □gicioejq 
□jo □□□□□□uaaaoi bubbi-jud 
□iiuncnna □□□aa aanuuDuo 
□3UDCOD □□□□□ aaaaa 

□□a tiaauu atiuria ononl 
□aoauDuauu □□□□□□□□□□□ol 
□□Da uatiuu piaaaa aauDtntil 
□□□□ Dooun auuaa unaotjo 


He returns, finally, and as he convalesces, he 
gradually relearns what he has forgotten. But it is 


gradually relearns what he has forgotten. But it is 
knowledge, not memory. Cheung teaches him the 
clarinet once more, and this time he plays it marvel- 
ously wdL He has “forgotten how not to play," and 
it is in this state, unmarked by history, that he 
becomes a sign of the featureless future, just as 
Cheung’s grandmother is a sign of the past 
Johnson is the author of c Angels,” a taut and 
penetrating novel about a floating American under- 
class. “Fiskadoro*’ is a leap, of imagination, with no 
loss of precision and perceptiveness. The book's 
philosophic explorations are not always dear, bnt 
the ambiguities are those of a stunningly delivered 
poetic vision. 


GARFIELD 

ANP THEN ABOOt APRIL OF 
’81 OK WAS IT *62, MV VOICE 
CHAN&EP A HP I STARTED 
SINGING- THE BARITONE PART 


©EE, POOKV. VM TIRED l 
OF TALKING ADO OT ME— 


VOO TALK A BOOT ME 
l FOR A WHILE -- 


Richard Eder Is on the staff of the Los Angeles 
Times. 


QWf 5 


JfllRU 


Wbrid Stock Markets 


Via Agence France-Presse June 14 

Chuing prices in local currencies unless otherwise indicated. 


Sun Alikmce 4SD <55 , 

Tote and Lv1» <93 500 

3»co 245 2*3 

Thom EMI <29 <29 I 

T.I.Gtomp 2 M 266 

TrofatBorHsB 355 359 

■raF n* m 

Ultromor . 310 21J 

Ultllovwc II 19/44 m» 

United Biscuits 153 US 

VlCfcora 2B0 281 


*Ya KNOW WHATAAcM ? 1 didn't SAY " YA KNOW 
WHAT?' ONCE TODAY... UK, 'TIL JUST NOW.' 


WEATHER 


EUROPE 


AMarve 

Adtelcrdain 

Athens 

Barcelona 

Marode 

Berlin 

Brussels 


1$ S9 (r 

I « r 

19 44 fr 

17 63 ir 

IJ M tr 

W SO O 

9 48 a 


Baaakak 
seiltea 
Ham Kano 
Manila 
New OeOtf 


Bucharest 

28 

82 

II 

53 

fr 

Budapest 

71 

n> 

9 

48 

d 

Capeaimgen 

14 

57 

8 

46 

sn 

Costa Del Sol 

33 

91 

22 

72 

fr 

Dublin 

13 

M 

6 

43 

sn 


12 

54 

3 

27 



25 

77 

17 

43 


Frankfort 

17 

63 

a 

46 

a 


23 

73 

* 

«a 

fr 

Helsinki 

17 

43 

7 

45 

a 

- Istanbul 

a 

75 

15 

59 

d 

Las Palma* 

25 

77 

20 

68 

fr 

Lisbon 

21 

73 

16 

61 

cl 

London 

14 

57 

9 

48 

d 

Madrid 

28 

83 

IS 

59 

fr 

Milan 

23 

73 

17 

63 

cl 


21 

70 

11 

52 

d 


21 

70 

6 

43 


Nice 

21 

70 

17 

63 

r 


15 

59 

9 


ST 

Pari* 

18 

64 

11 

53 

d 

Prague 

17 

U 

a 

46 

O 

Reyklavlk 

10 

50 

A 

43 

d 

Rome 

28 

82 

19 

66 


- Stockholm 

18 

64 

8 

44 

d 

Strasbourg 

20 

68 

5 

41 

d 

. Venice 

21 

73 

14 

61 

0 

Vienna 

2T 

70 

11 

9 

cl 

WSTSOW 

14 

57 

a 

44 

d 

Zurich 

21 

70 

7 

45 

d 

MIDDLE EAST 

Ankara 2* 79 

9 

a 

Ir 

Detent 

— 

— 

— 

—■ 

na 

Damascus 

35 

95 

16 

61 

Ir 


28 

82 

13 

U 

tr 

Tel Aviv 

30 

84 

20 

68 

fr 

OCEANIA 

- Auckland 

14 

6t 

13 

55 

r 

Sydney 

u 

61 

6 

43 

a- 


Shansital 

Shgamni 

Tamai 

T0K90 


21 B4 26 79 o 

21 7V 18 64 a 

26 W 24 TS a 

29 M 26 79 sn 

3B 100 28 82 fr 

24 75 16 61 tr 

24 75 18 64 fr 

21 a 27 81 cl 

29 84 23 72 fr 

17 63 14 57 a 


AFRICA 


ABN 

ACF HokflOB 

Aeaan 

AKZO 

AhoW 

AMEV 

ATkim Rubber 
Amro Bank 
BVG 

Buehrmann T 

CalandHIdu 

Ehevier-NDU 

Fokker 

Glsf Brocades 

Hdneken 

Haoaovens 

KLM 

Noerden 

NalNadoer 

Nedlhnrd 

Occ V under G 

Pak hoed 

Phlllns 

Raaeco 

Rodamos 

Roilnca 

Rorerrto 

Rival Outch 

Unilever 

Van Ommeren 

VMf Stark 

VNU 


Husael 

IWRA 

Kail + Sals 

KOrttodt 

Kanthal 

Kioeckner H*D 

Kloeckner Werke 

KrunpSfalU 

U nde 

Uutttioran 

.MAN 

Monnesmonn 
Mueneh Rueck 
Nlkdort 
PKI 

Porsche 

Preussag 

PWA 
( RWE 
RhdomehHI 
Schertno 
I 5 EL 
Siemens 
Th risen 
V«*jo 

Volksumwonwerk 

Wei la 



Close prey- 

Kloof 

7900 

7625 

NedDank 

1420 

1380 

Pres SI em 

5150 

soao 

Rusplat 

1540 

1520 

SA Brows 

800 

795 

Si Helena 

3450 

3375 

Sasol 

693 

690 

West HdtBng 

3800 

5800 

OxnaasM Stock index 1 1IMJ0 
Previous : 109XM 


F.T. 38 Index : 979.19 
Previ ous ; 977,80 
F.T68JB Index : 127551 
Previews : 127959 


Cold Storage 
DBS 

Freer Weave 

How par 

Inchcape 

Mai Banking 

OCBC 

OUB 

DUE 

ShangrWa 
SI me Darby 
5‘pore Land 
5*oore Press 
5 Stecmshlo 
StTrodlno 
United Oversee 
(JOB 


W7 3A9 
555 6 

5.10 5.15 

1.19 12* 
226 228 
SJ0 £90 
9 9 

NA 3.14. 
178 250 
220 220 
154 157 

223 280 

£90 60S 

LOS 158 
OI 4jQ 
158 154 
452 4.12 


AA Carp 
A 1 1 led-Lvons 
Angta Am Geld 
AM Brtt Foods 
Ass Dairies 
Barclays 


Sl« SUM 
_T?* 197 


| Ceirnnerztemk index : 1365J9 
Previous: 137059 


AMers 

Coho 

Cage Town 


30 86 19 66 d 

38 100 21 70 fr 

21 70 7 45 fr 

24 7S 17 63 fr 

20 68 8 46 fr 

— — — — na 

9 68 14 57 a 

X 86 21 70 d 


ANPXBS General Index : 29690 
Pr e vio u s : 29939 


Brussels 


Arbed 
Bekoort 
, Cockerltl 


LATIN AMERICA 
Buenos Aires 17 63 


Buenos Aires 17 63 5 41 

Caracas 25 77 X M 

Unto X 68 14 57 

Mexico city 25 77 13 55 

Rlede Janeiro 23 73 17 63 


NORTH AMERICA 


Anaoawo 13 

Atlanta 25 

Boston 21 

Chicago 34 

Denver X 

Detroit 21 

Kooolrti » 

Houston 31 

LOS AIMBMS a 

Miami 31 

Minneapolis 25 

Montreal 16 

Masaao 31 

New rarfe 22 

San Francises X 

Seattle 16 

Taranto 14 

WasMBofMi 24 

oovercast; Pc -partly , 


EBES 

GB-lrvwBM 

QBL 

Gevoen 

Hoboken 

Intercom 

Kredtetbank 

Petroflno 

Sac Generate 

Safina 

Solvav 

Traction Elec 

UCB 

Unero 

Vteilte M ont o one 


Bk East Asia 
Cheung Kang 
China uoht 

Green Island 

Hang Seng Bank 
Henderson 
China Gas 
HK Electric 
HK Realty A 
HK Hotels 
HK Land 


Current Stock Index : 2J2S53 

Previous : 234822 


Frankfort 


SATURDAY'S FORECAST — CHANNEL: SHghttr chocpv. FRANKFURT: . 
cieudv Toms. IB — 8 (64 — 461. LONDON; Cloudy. Torrm. 14 — 9 («T — 48). 
MADRID: FOIL Temp. 27—14 (81—571. NEW YORK: Fair, Temp. 24—14 
<75—57|. PARIS: Cloudy. Temo. 18 — 9 164 — 481. ROME: Cteady. Temp. 
18— 17181 -6I>. TEL Aviv: Fair. Temo. 20- JO (86— «8». ZURICH: Clown. 
Temo. X— 7 <48 - 451. BANGKOK: Ttru n d o S tor ms. Temp. U— 26 (91—791. 


AEG-Tetefunken 
Allianz Vers 
Altana . 
BASF 
Baver 

Bov Hypo Bank 
Boy Veraimtxznk 
BBC 

SHF^ank 

BMW 

Commerzbank 
Cant Cumml 
Doimnr-Benz 


*« iJB 


HK Teteabane 
HKYawnatel 
HKWtxwt 
Hutch Whampoa 
Hyson 

urn aw 

Jgralne 
JardhwSac 
Kowloon Matar 
Mlromar Hotel 
►low Works 
Orient Overeat 
SHK Praps 
Stelin 

Swire Pacific A 
Tal Cheung 
Wuh Kwong 
Wheeteck A 
Wing On Co 
winsor 
World Inn 


2150 2250 
1440 1S30 
1450 1480 
7SV BJV 
4A2S 46 
156 1.92 

9 JO 9,45 
7-50 7.70 

1040 II 
33 M 
£20 SJ5 
730 7.C 

91 9150 
3X5 160 

545 540 

23 2L30 
0.53 0.54 

10A lift 

3475 U 
640 tSD 
2.10 2)0 


BAT. 

Boechom 

BICC 

BL 

Blue arete 
BOC Group 
Boats 

Bmvater Indus 
Brit Homo St 

Brit Telecom 

BritAanaPOce 

Briton 

BTR 

BWTTX* 

Coble Wireless 
Codbory schw 
Charter Cons 
Commercial U 
Com Gold 
Courtoukfs 
DoteeW 
De Bears* 


Distillers 
Drlefonfeln 
F Isons _ _ 
Free St Gad 
GEC 

Co n A ccl dorf 

OKN 

GkwaE 

GrotoMst 

GRE 

Gutmwss 

GUS • 

Hanson 

Hawker 

ia 

imperial Group 
jaamr 

Land Securities 
Legal General 
LtavdsBonK 
Lonrho 


223 220 

150 154 

376 . 374 

542 544 

316 318 

345 340 

223 223 

33 33 

523 525 

294 797 

188 185 , 

277 Z73 1 

518 921 

287 289 

1S3 182 

366 373 

113 113 

356 Ml 

264 267 

530 532. 

157 160 

188 1B6 

218 220 

529 519 

i» in 

433 431 

510 515 


CtaahoteW 
Crod I tal 
EridcnJa 
Farm! tolla 
Flc* 
FtesWer 
General I 
IFI 

l fakement I 


21810 21350 
3557 3475 
9500 9030 
2241 2270 
10110 10180 
U000 13800 
3096 3370 


Straits Times Ind Index: 77148 
Previous : 79143 


AGA 

AtfoLavel 


Itaimobniari 

Atetflobanco 

Montedison 

OI Welti 

Pirelli 

RA5 

RlnoscBite 

SIP_ 

SMC 

Snki 

Stando 

snt 


49100 49290 
8180 2250 
104000 94300 
188* .1874 
85000 pram 
113300110000 
I1IS 109 
66X 4750 
2640 2620 
71800 71500 
SB 870 
2220 2238 
ISM. 1448 
3450 3405 
W730 19300 
3269 3225 


Astro 

Atlas Copco 

Boildan 

Electrolux 


H on do UU tn ken 

plcuo iibOOC 

Saatk-Scania 

SPSMk 


SKF 

SwedWhNntch 

Volvo 


374 375 

187 W 

m m 

102 104 

180 ISO 
357 261 

281 291 

390 390 

150 ISO 
176 183 

NX). 390 
N.Q. 365 
84 3 87 

197 201 

m m 

208 210 


FulKsu 
Hitachi 
HltocW Cable 
Hondo 

japan Air Lines 
Kaliino 
Kansal P owe r 
KpwasaU STest 
Kirin Brewery 
Komatsu 
Kuboto 
Kyocera 
Matsu Etec Ms 
Matsu Etec Works 
Mitsubishi Bar* 
Mitsubishi Chant 
Mitsubishi Etec 
Mitsubishi Heavy 
Mitsubishi Carp 
Mitsui and Co 
Mltsufcotfd 
Mitsumi 
NEC 

NGK Insulators 
NlkkoSec 
Nlaoon Kogaku 
Nippon Oil 
Ni p pon Steel 
Nippon Yiaen 
Nissan 
Item ura Sec 
Olympus 



Gmodm Wades tin AP 


MIB Current Iw 
Prey too i ; 1410 


'Sfi ^ 

IX 1-35 
745 73 

2 145 

4,90 440 

140 14> 


342 344 
216-40 218-50 
227.90 228.70 


Mono Seno Index ; 
Previous : 148191 


HONG KONG: Cloudv. Temp. V — 25 (82 — 771. MANILA: dainty. Tama. 
31—25(88 — 77). SEOUL: Cknutv. Tom* 25 — 14 (77— 57). SINGAPORE Fair. 
Temo. 31 — 77 188— 8U. TOKYO-. Cieudv. Temp. 17— IS (63— SSI. 


Deutsche Babcock 
Deutsriie Bonk 
□resdner Bank 
GHH 

H crp ener 

teCMItl 


41&5Q 414 1 

197 JO 19750 
146 14540 
817 817 

339 345 

1S3 1S5 

541.50 544.50 
2150 21JO 
157.90 156 

3Z7 J29 

550 560 


Anglo American 
Anglo Am Geld 


Anglo Am G 

Barlows 

Blyvoor 

Buffeta 

DeBoers 

Drieftxnofn 

Elands 

GFSA 

Har mo ny 

Hive Id Steel 


1225 noa 

38 %S 

1010 1025 

tm cm 

m m 


Marks ana So 
Matal Bax 
Midland Bank 
Nat West Bank 
p and O 
PilMnaton 
Ptessev 
Prudential 
Roeal Elect 
RMdfentein 
Rank 
Reed Intt 
Re u ters 
Royal Dutch t 
RTZ 
Soot chi 

So Irabu ry 
Sears Holdings 
Shell 
STC 

SM Chartered 


510 515 

286 287 

S24« 523* 

3S3 346 

52SW 52*3* 

174 174 

ts Si 

£' 35 % 

718 no 

257 774 

810 830 

1*7 199 

441 435 

743 744 

187 18S 

m 

7§ Mt 

f5 « 

331 318 

132 IX 

460 460 

259 J59 

662 659 

366 358 

286 298 

707 707 

IK 178 

S96W SMU | 

338 340 

634 634 

4^ 

M2 146 

459 459 


AfrUbuldO 665 669 

AJPhomArt. 31L10 319-50 

Av Dassault 1430 1421 

Bancoira 655 665 

BIC 550 550 

Bonoraki 1939 1970 


BSN-GD 
1 Carrefour 
Ctioroeurs 
| aub Med 
. Darty 
Dutnez 
EH-Aquitalne 
Euraoe 1 
God Eaiu 

Hachette 

Lotarae Cep 

Legrand 

Lesleur 

roreat 

Meri ell 

Motra 

Merlin 

Mldvelln 

Moot Hnuiessv 

Moulktax 

Ocddentate 

Pernod ric 

r srrt w 

Petrates Iteel 

Peueeor 

Print am ps 

Radiotechn 

Redout e 

Roussel Uckh 

Sarto fi 

Skis Resslanei 


ACI 

ANZ 

BHP 

Borat 

BdugalnwHle 

Ccsttemaine 

Cotes 

Coma ten 

CFJA 

CSR 

Oim loo 

Ekters Ui 

ICl Austral la 

Moeellon 

MIM 

Mver 

Not Ausf Bank 
NewsCorp 
N Broken Hlu 


Ricoh 

Shara 

SMnetsu Chemical 
Sony 

Sumitomo Bonk 
Sumitomo Chem 
Sumitomo Marine 
Sumitomo Metal 
Tolsel Cam 
Tatsha Marine 
TokedoChem 
TDK 
Tallin 

Tokyo Elec. Power 
Tokyo Marine 
Tnppon Printing 
Toray ind 
Toshba 
Toyota 
YamalchlSttc 


4416AbNPrC0 
2D2Acfciands 
flWAsnkoE 
BIX Aura Ind A 
14210 Alt Energy 
3900 Alio Not 
BT2AigomoS> 
1200 Antes WAf 
728U Argcen 

200 Arouse pr 
18000 AtcoM 
7300BPConocta 
21588 Bonk BC 
192141 Bonk N S 
MlXBorrlc* o 

4600 Boton Af 

52s3 Bonanza R 
2900 Brolarne 
41083 Brama tea 
7*747 BCFP 
10530 BC Res 
1G573 BC Phone 
7700 Brimswk 
1200 BuOd Can 
39990 CAE 
3066 CCLA 
3700 Cod Fry 
Compnau 
C Nor West 
I 6I50C Pockrj 

109440 Can Trust 


High Low Close dm 
SIS* IE* 18%— Vh 
516 16 16 

S161* U 16W+ X 
5B’A 8 Bib— >6 
S19Vi 1916 19»+W 
S15* 1516 1516— VI* 
122 31* B -14 

S2» 25V» 3» 
117® T7M 1736 
S]W 10» low 
*m xx 9w+ n 
532 32 32 + te 

S5% 5% 596+ W 

SI 3% 13V* 1316+1* 
134 jx 132—1 


S17X 171* 171* 

400 390 390 _ 

465 M& 460 —X 
S1*V* WVfc WA 
59 tn 896 — I* 
245 240 20 

524 1336 206 

si?n raw w-fri* 

53W6 31 31 

51696 1611 1616+ W 
51 5V. 15 15—16 

51516 15 ISIS 
S25V* 25 25 • 1 

52216 2216 2216+16 
530 2916 2916— 14 

537*6 37W 37W— *6 
51716 1396 EH* 

535 3A6 X +16 1 

3)to S X +3 
siovj low 10V4+-W; 
51816 1816 1816— H 
S1«W 1416 T«6 ! 

%Sk 716 716 

5191* 19 . 191* 

5131* 13X 1396 j 

S40W 3816 3816— 16 
sex* vh tw 1 

616 6W+V6 
U 5% 6 +16 

5UP4 lOVi 1016+I*, 
Wl ' 
3u5 300 300 

51296 1216 1291+ 16 
SX 1916 20 + !6 
175 IX 175+7 
gs «QS 415 + S ’ 
51296 1216 1216+ 16 
S12 1116 1196— I* 

57 6W 69b— 1b ' 
56 6 616 616 | 

zA* z£* + w 

Q6W 26V* 261*— lb I 

i§w iia- w i 

a* & 


5M c Tung 

n«»2CIBkCom 
B420Cdn Not Ran 
3X636 CTlreAf 
2400 C Util B 
20890 Cong 
2408 Cetanes# 
600Ceian!75p 
6280 Cenfri Tr 

I IS CHUM 
12033 Cinaotex 

82QQ C Phrtfa A 

xrancobtbBf 
700 CTL Bank 
3400 Conventrs 
XOOCosekaR 
3200 Conran A 
5900 Crown* 
17500 CKtr Res 
27X3 Doan Dew 
2596 Denison A p 
402 Denison B f 
Dowel can 

200Qlcknsn B 
ring Domtst A 
49990 Dafaseo 
350 Du Pont A 
4400 Dytex A 
900 EVctttom X 
600 Emco 
8950 Equity Svr 
20WFCA Inti 


wakWRA teoex : 1268525 
Previous S 12717.16 
Now index : MAM 
Previous 1SS5J4 


Zurich 


Old Coal Trust 
San tea 

Thomas Notion 
Western Mining 
Westooc Banking 
woods! da 


Adla 

Akisulsse 
AutopYwn 
Bonk Lou 
BrownBoveri 
a do Getoy 
Credit Suisse 
Electro watt 
Georg Flecher 
Hotdertxmk 
Interdiscount 
Jacob Suaxird 
Jefmoii 
Landis Gyr 


2920 297D 
806 802 


I76S 1776 
3105 3155 
2440 


878 876 

740 740 


All Ordinaries index : Bui 
Provisos : SWAB 


Landis Gyr 
Meovenatoc 
Nestle 
Oertlkan-B 
Roche Baby 


Thomson CSF 


Aaefl Index ; zmas 
P revto es : 217J7 
cac index : 222^0 
Prevtees : 236J8 


Akdi 

Asahl etiem 
Aeon) Glass 
Bank at Tofcvo 
Brkfoestnne 
Canon 
Casio 
CJ toft 

Dal Nippon Print 

Dal wo House 

Ool+a securities 
Fanlic 


Full Bank 
Fun Photo 


530 833 

544 548 

1130 llS 
1410 >430 

418 425 

1190 1170 
670 443 

BBS 8>0 
7830 7910 
U2S 1620 
1790 1810 


ScWndter 

Sulier 

SBC 

Surveillance 

Swissair 

S w iss Reinsurance 
Swtss Volksbank 
Union Benk 
Winterthur 
Zurich Ins 


4C2S 

nei wr 
1510 1825 
4475 . 4350 
4100 4180 
154S 1540 
8990 9079 
1380 1390 
4329 4325 
379 377 


UXOCFalconc 
5497S Plcnbrdpe 
401 Fed Ind A 
■00 £ City Fin 
JJgOGeoeCwnp 
24109 Geocrude 
20400 Gibraltar 
57PQGotdcorp f 
X0 Graft G 
730 GL Forest 
400 Greytmd 
300 Hawker 
20448 HayesD 
5200 Hees Inti 


MOMOSHA 
7100 M«CC 
94654 Melon H X 
1900 Mer land fc 
8970A4aisonA< 
308 Motion B 
800 Murphy 
WOO Nabisco L 
2^ Norondo 
3488 Honan 
78*98 N VO AJtM 
. 400NowsooW 
16*74 NuWStspA 
■03 Ookwood 
9273 Oshdwa A f 
7»MPocWAlrin 
UXPomax- 
4930 PanCan P 
27200 Pembina 

noOPhortxOil 

20«4 Pin, Point 

700 Place GOo 
24140 Placer 
1225 Provioo 




ino Ray roc* (■ 
■9114 Reteialh ■ 
ftWKRdSlertjsA 
iJ'OORodersA* 
■ton Raman g 

[14180 Scepfrw 

TO Scatty f ■ 
**^85cor» M 
■ 14381 Shell Can I 
KMmsherrttt 
M1025 Stater B/| 
■MSouthm I 
■M st Brodctt] 
59565SteteoAB 


61816 l| JJ* _ 
XS 330 220 —15 

515 I486 1476 — Ik 

400 395 3K — 5 

51716 17 171* 

11716 1776 1736—1* 
5211* 21 Kt 21 Vi 
527W 2736 27J6+ 16 
515* I5S6 1550— VS 
SIS 1416 7416— 1* 
56V6 6VA fl*+ W 
51916 191* 19V6 
45 43VS 44 — 1 

ay* 816 816— w 

S29M 291* 2W*— U 
5131* 1316 135* 

MW 776 »V*+ Mi 

534 33 3316+ « 

SIM 1656 1656 
3816 8V6 8V* 

0616 2616 2*16— 5* 
137 137 W7 —3 

5235 6 231* 23J6+W. 
52216 22 221*— M 

345 250 348 +15 

57 7 7 

5776 716 716— 1* 
51216 12 121fc*b 16 

321V9 211* Tit'S* W 

5 ^ 2& 2^+W 






WVs 9U 916— M 
HM6 Ml 2*56+ I* 
S7U. 7 7 — 1* 


44030 Sydney b 

n 2SS?SS? 


1080 Teck Cor A 
44S0T«teBf 
3040 Tex Can 
4793 Thom NA. 
99*15 Tor Dm Bk 
OOOTarstorBf 


16490 Traders At 
15f»TmsMI 


2180 Trinity Res 
4207TmAHoUA 


14207 TmAfio Ui 
25570 TrCan PL 
lS277Trlmac 
12Q360 Triton A 
43QQ Trfaec A 1 
70500 Turbo f 


571A. 7 7—1* 

nn* ms ni*— m 

554 5XV, SA— V* 

520 20 20 — 16 

52016 2H* 2016 

25 252 “ ,0 

^ 225 32S +5 

30 27 27 —3 

90 90 90 +1 

S30tt 20 20 

51316 1316 13H 
23& 131* + w 

Ml 4* 3ns 31V6+16 

521 206 20K— U. 

522T* 22% 2716+16 
52SV 3 2516 2516— V. 
12216 2316 22te 
517V6 12 12+16 

W 365 375 +10 

5261 6 2A6 2616+ 16 
1271* 27V* 2716+ 16 
430 430 430 

5221* 214* 32 
52416 26<6 2*16—16 

57 53 56 —1 


3(90 7945 
1190 1175 
1880 IBM 
1470 1440 
ym 3915 
5050 5050 
2150 2150 


J402H Hay Co 
25172 imasca 
eooindal 


500 inland Gas 
33150 inti Thom 
5S4i inter Pine 
iDOOinsca 
1 754 Janmcfe 
212 Korr Add 
29156 Lpbatt 
5W7S Loc Mnrls 
tOOLOntCem 
4400 Lacuna 
11(4 LL LOC 
34LoW8wCo 
1777Lumonics 


SBC index : 44Z30 
Prrriera : 444J0 


N*; not ouoted; NJL: not 
available; xd: ev-dMdend. 


«9J* in i9i*+ v> 

«3W 2316 23V* 

5I3Vb 131b 13V*— 1b 

91* 916— «6 

2“ 2» 2*3 + 8 

Sw. H* 7J*_ V* 

.S3* 6J6+16 

*3716 37V. 3716 
ni*. 2016 21 — V* 
5241V 2M» 24%+ V6 

not* 209* 201 * 

SlOte 10 101* 

nib. 21*6 21 * 6 — lb 

ttVfe 201b 20to— *6 
XD 24V* 26*6— bk 
5157* ISIS 151*— 1« 
sen* an* 20 ** 

-SE5* * 916 + w 

S4CW 4016 wA, u 

|g% iii* mt b- 

g71 6 27 271*“ “ 


4121 U entprtao 
MOUKeno , 
1300 Verst! Af 
175 Vestgron - 
UnWeWwod 
4900 Westforte 
3TO0 Weslmln 
2477 Weston 
19724 WocxtwdA 


sn*6 in* 111b— 1* 
5916 916 91b- U> 


490 475 OS -»* 

81116 1116 !1I6'\ - 
SUM UX* 14*64 
11 W 10—1 
51346 13*6 131b— U 

si e. s +* 


20300 YK Be ar 86*6 6*6 

Total sates 11+51477 iMvm 


TSE 208 ladBC 


doss PriHrtOUS 

2JT2J0 umx 


LawdonOtue 


32»BonkNtent m 


■wunwin SI6M1 

. 568 DomTxrA SI0K 

TWO MnfTrSt Sl5*6 

22243 NedBkCda saw. 

PwerCorp nn* 

RoUondA not* 


29VS 2W»+ te 
30te 3016— 16 
15*6 It 
10*6 1006 + 16 
15W >5*+ » 


J9J6 2B16 + te 

law. n wi **.. 
20 2M*r . 


512(6 121b IZlb — 16 
511 1056 101* + ft 


ssssss a 


ffk 


JR* & 

5211* 2146 311*+ te 


Total Sates ijouq snares. 


. . aw FrrriMO 

tottostrtols lubDC . niiff 1UM 


he ’ >■; 




; tV* A 





mss 


ESTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JUNE 15-16, 1985 


Page 19 


lif-T : , 

I 

*Zy*'*' 


I*?*. - i '•£>-»■ 

rtf !fc3l 


SPORTS 


“ ilpji w eaver Returns to tne Unolei 

Popular MamagerAgrees to Lead Team Through Season 

"•* — : Tfie Associated Press In an official announcement of the change 


• The Aapciatal Press . in Bn official announcenKni of ihc change on 

: * BALTIMORE — Ead -Weaver relumed as manager - Thursday, Hank Peters, the Orioles’ general manager, 

: , : ’ of the Baltimore Orioles cm Friday, a day after the 'said: “We are sorry about relieving Joe AltobeQi. It 

j , ! r « American League club dismissed Joe AltobeQi." wss ® difficult decision, but we did not like the 

;;! . v * \ ! Weaver agreed to HanHl* the chib through the remain- direction in which the dub seems to be beaded and 

• > j \ _ \_j, | ^ der of the season, after winch the situation. will be "tedded that a change was necessary." 

• , i ■*. S' . . ' ‘ The team owner, Edward Bennet Williams said of 

: * >=, ^ ;;ia Weaver said at a news conference Friday that he (fid Weaver. “I think he came back out -of loyalty to this 

O/Vi i- nw *»te nntil taffing Thursday. with te®n afMs or&nizzaon.'' He described his dismiss al of Altobdli 

• : TSL «‘ a • w leave retirement and raom the basebaQ dub. He & a “painful experience." 

{ • \ JLapSS-:/ said be had been talking with the team since the dart* ... M . . . . , .. 

- ■ of the season abomreSning as a consultant, but that id not haw Ae kind of Iradership you expect 

■ O Vi- a deal coaid not be wmk^ouL " ‘ from a manager, Wuhams said. I say that rductam- 

; ^k Weaver s»d that -he had received two offers: to • ‘ 

7 -~-1 v f 'manage other baQdubs once the spring, and miner- * ?*? wfandof leadership on the field that we're used 

i . .. -r.^!r?r'^^pruuwthmbm!lmheS^u>rHumto didnt have the 


jlM.’k 


as a “painful experience." 




r 

r,,j* ii ; 


n v':Tc 
" C^kc 




€ .'manage other baQdubs once the spring, and twiner- ' , . ™™dof leadership on the field that we re used 
I rJwoiLi miortori^tiLlm £d& tormumto * m J* ^ ommzation. Joe didn't have the 
1 -/Baltimore SrauseofhisfamaiHriiy with the team and ^“S 5 making a first-class, top manager. 

the city. He was to take over the team Friday night, *At the same tune, we felt that Earl, with his 
si when tne Orioles were scheduled to play the MHwan- knowledge of the club, the organization, and most of 
kee Brewers. ' '•'•:• the players, as well as his past record as a winner, was 

> “I guarantee you Tm working for a Jot less money - the most appropriate choice to replace Joe in this 
LT-than I could .have got with otter organizations,'’ - situation." 

it*; Weaver said. He said that the salary m ^rtatifmjc took . 'Cal Ripken Sr_ a coach, managed the Orioles to an 
' N i ' only five nwnnti^ - . 8-3 vuHoiy over the Brewers on Thursday night- 

V .■ " •* ; 

i; Sooner or Later, Be Bad to ComeBack 


By Dave Anderson 

Afar York Timet Service 


n. 


NEW YORK — Until now, Earl 
, , i *' Weaver had rcssted for xnore than 

- two seasons the tenmtation to 

sneak a smdke in the angont run- 

; — r way between nwring ^ As recently 

M ^te April, when George Stein- 
■“ . brenner was losmg patence wh2c 

j the Yankees were losing games 
O with Yogi Berra as manag er, the 
AaxirV^. principal owner sounded out 
^Eji v — J * '.Weaver before anointing Billy 
Martin for the fourth time Weaver 
O. wiselyknewbetler than tobeinter- 
^ ested. 


J|“i - “I don’t know if Billy knows he 

V - '* — — ' was the second choice,” a source T|T»i|» n . _ _ - 

familiar with the Yankees' manage- vV 11113.1110- 3 
rinl move said at the tinm. “But he - • 

^ favor. My woj 

r - Then as befwe, Weaver contend- J 

‘ ed that he had no desire to be a L! m VPVA , 
managw again. Even when the • WvlCi 

.r. ^ ABC network did not re-sign Mm » 

• , \ Rafter two sospns as, a tdeviaon you Heed HlC, 

‘."r - ■ $ analyst, he had talked about how J 

\ ^ vSoplayed gpK. played theharees I’ll be there.’ 

'ijfc Splayed with ms tomato plants. 

4^ y Kit sooner or later Weaver had 


Weaver, not a manager who was nxmey.” The Chicago White Sox 
never conrpletdy happy Unless be and the Seattle Mariners also 
was minrhng at an umpire, or checked him out. 
changing pitchers, or explaining his “No, no,” Weaver kept saying, “I 

strategy. . just don’t want to manage any- 

“Whatifyoohadn'tbeenaman- raom.” 
ager,” be' once was asked, “what That’s what he also told Stezn- 
woold yon be doing?” brenner in April, but when Edward 

. . "X don't know," he said. “Base- Bennett . W illiams asked. Weaver 
ball is the only thjm» I’ve thought decided that he wanted to manage 
about since I was 4. again. Or at least he decided he 

With thalin mind, rfs surprising muted to manage the Orioles 
Weaver stayed out 'of bascd»Q for' aga i n . 

■ ■ - “I owe Mr. Williams a favor,” he 

; said the other day. “My words to 

. _ ‘ him were, Tf you need me, Fll be 

I owe Mr. n®” 



Chen, Making a Double Eagle, 
Claims Lead in U.S. Open Golf 


By Gordon S. White Jr. ie 2 on the third hole to §p 4 under. “Now we can look to have the 
AW York Tima Srrrrtv He posted four more birdies and pin on top of a mound out there 
BIRMINGHAM. Michigan — three bogeys, a surprising start for lomorrow." Zoeller added. 
Tze-Chung Chen of Taiwan has be- Impound (64- kilogram) golf- “They'll never allow a double eagle 
come the first golfer in history to er who has been playing for only 10 again" 

make a double eagle daring a U.S. slim at * ^ ret inches 

Open championship. The 65 is the lowest round dur- ( 1.78 meters). joined the PGA Tour 

To do it be hded a 3-wood from “S five Opens at Oakland two years ago. He has not won an 
the fairwav 255 yards out, on his Hills. It equaled the course record event in the United States bui he 
second shot Thursday on the par-5 achieved twice during the 1979 recently won the Japanese Open 
second hole at Oakland Hills PG A Championship here. One of and the Korean Open before re- 
CoumryGub those was scored by the winner, mining i<? ihe U.S. lour two weeks 

Two hours iater. the 26-year-old David Graham, the other by Allen ago. 

Chen, who is Dlavinz in his first Tapie. It was not surprising that a for- 


tius 140-pound (64- kilogram) golf- 
er who has been playingTor only 10 


xrntry Quo. 

Two hours later, the 26-y ear-old 
ien, who is plavina in his first 


Chen, who is playing in his first 
Open, birdied the 17th and 18th 


turning io the U.S. war two weeks 
ago. 

It was not surprising that a for- 


Varied weather helped prolong «gn player took the lead, but Chen 


holes to complete a round of five- the opening round; the first player was not the one expected. Bernhard 
under- par 65 that gave him the teed off at 7 A.M. and the last Langer of West Germany, Sevc 
first-round lead by a shot over Fred completed the round at 8:50 P.M. Ballesteros of Spain and Greg Nor- 
Couples in the 85th Open. over this normally strong 6.996- man of Australia were all given a 

Chen, known to others on the vard course. Temperatures ranged good chance, 
tour as T.C., had a big smile as he from 49 to 71 degrees (9 to 22 Ballesteros, who shot an eagle 5 
described this rarest of all golf degrees centigrade), and a strong on the second hole, was one of the 
shots. north wind held steady. There were many at 71. Norman shot 72. and 


shots. north wind held steady. There were many at 71. Norman shot 72. and 

“This is a story," be said. “When three short rainstorms, one of Langer had 74. 

I hit the ball it went straight to the which produced lightning that halt- I> was not a good day for some 
pin. I didn’t know it had gone into ed play for 14 minutes when Chen former Open champions. Tom 
the hole until I walked onto the was on the I6th tee. The first rain Watson shot 75. Jack Nicklaus 76. 


Tze-Cbnng Chen, concentrating at the U.S. Open. 


green even though I heard a big yell 
when 1 hit the ten." 

Chen got off to one of the fastest 
starts in Open history when he fd- 


was on the 16th tee. The first rain Watson shot 75. Jack Nicklaus 76. 
began falling just as Chen made his Jeiry Pate 78 and Lee Trevino 76. 


birdie at NoJ. 


Hale Irwin and Larry Nelson, also 


Fuzzy Zoeller. the defending former champions, ted 73 and 71. 
starts in^)pen history when he fd- champion, was in good position The second hole is among the 
lowed ihe double eagle with a bird- with a 71. “These folks here showed easier holes to par at Oakland HilLs 

us they could give us four seasons But nothing is easy about a double 

in one round," he said. eagle. 

^ # -Chen and Couples distanced This par-5 is flat and unlike 

[yAAiTfl I rw|y* themselves from the pack as Tom many of the other 17 hdes that 
f A UUIVo J U1H Kite, Andy Bean and three others have’ approaches to highly raised 

were at 69. A group of eight, in- greens. The No.2 hole, a slight dog- 


Dawson, Francona and Brooks Join 
To Power Expos Past the Cubs, 9-7 


Kite, Andy Bean and three others 
were at 69. A group of eight, in- 


No.2 hole, a slight dog- 


eluding the 1978 Open champion. leg left, played downwind to the 


Andy North, was at 70. 


pm that was set on the right side 


Umzed Prat International 


treal got another run in the sixth on took the loss. Pete Rose wait 0-for- 


MONTREAL — Andre Daw- a double by Raines and single by 


Williarilfi a ’ hind the Toronto Blue Jays and 

W Ilflall l H it . in to fourth place in the American 

- League East, the Orioles needed 
favor. MV words hiin. Just as he needed basebaQ 
• again. But now he needs to be as 

W T* - “mean” a manager, to use his word, 

D I O! TyCrC» fl as he once was. The dav the 1982 


Having dropped eight games be- *». Ten y Francona and Hubie I>5 J£ rso 5- .. Cardinafe 2,Piniies 1: Jack Clark 

hind the Toronto Blue Javs and Brooks drove in two runs each The Expos scored four more runs and Tito Landrum hit a home run 
£££ £ Amoican TWay night to lead the Monti* in the isevenlh. WaMiiled.off with ^danTlBI^ble inKrubt^io 
Learm C East the Orioles needed ^ Expos to a 9-7 victory over the a triple and scored on a single by help give John Tudor (4-7) his first 
hinT*«f v. needed WH,n Chicago Cubs. Francona. Hern Wmningham was victory against his old teammates. 

safe on second baseman Ryne After 8% inning s, Jeff Lahti came 


Zoeller, who won the I9S4 Open away from a bowl-like center area 
at Winged Foot in New York by °f t^ e green, 
beating Greg Norman in a playoff. The green lies behind a group of 
said he was pleased to be among four small bunkers that Chen nad 
the 15 players at 7 1. That was the to carry over to land on the putting 
same score he had in the opening surface. 


taEKiSi SK M<53)SSi 

t£TcS game, and Mike Fitzgerald fol- for the final out and his fourth save, eagle. 

W ' nTcTOAfT lowed ^ a nm-scS single. Larry McWilliams (3-5) took ihe Informed ofChens performance 

season endecUie talked about how BASEBALL ROUNDUP Law’s double made it8-3and loss.' on the second hole, ZoeDer laughed 

■ . ~r ^edSoxRBlueJays^In the and said, “I said he was real good. | 

poBMtot^an mnmef. h ihe mm gidier. chu^o^airoKd ihe majgiii to American L=®k, Rtt Gedman’s idn'i say he was that good. 

“I don t think I can be mem Bi^ amthC^amrnmRaing, 9-6 in the eighth when Richie two-nm double highlighted a foar- 1 ' ■ 

enough my more," he said then. “I ^ lo^mtd^ Steve Trout (6- Hcbner doubled with the bases run seventh, rallying the Red Sox in 

wasmem enough tins yrarbe^se ^ Lra -to load flie loaded Durham doubled Boston. Mike Tnijfflo (1-1) phebed 

I knew this was it But I don t think bases. Dao^ou s neldefs choire home the Cubs’ final run in the 2V5 innings of scoreless relief for the — 

that I could be mean enough next scared Smith, and Brooks followed victory. Bob Stanley worked two (1 


round last year, but he was only 
three shots off the lead then. 


A double eagle is considerably 
more difficult than a bole in one. 


you 


f'ta be Weaver again: sooner or later even the last two-seasons. Bui he that 1 could be mem enough next 


season ended, he talked about how BASEBALL ROUNDUP 

important it was for a manager to 

possess that “mean" ma n ner. singles by the winning pitcher, 
“I don’t think I cm be mem Biyn Smith (7-2), and Tim Raines, 
t-nmigh any m ore ," be said then. “I the losing pitcher, Steve Trout (6- 
Tpnc ww»aTi anmig li this ywn- hw^mse 2), walked V ah cc Law to load the 
T imam thin waylt. Hut I don’* tbmlf bases. Dawson's fielder’s choice 






H Weaver had to manage again. 

■ And as tiie Orioles played the 
Milwaukee Brewers in Baltimore 
Friday night, Weaver returned (o 
the same dugout he had hopped out 
'- of on Sept 30, 1982, after the Ori- 


Zoeller described Chen as “a real There have been 16 holes in one in 
©d player.” That was before the an Open since Zell Eaton made an 


game, and Mike Fitzgerald fol- for the final out and his fourth save, 
lowed with a nm-scormg angle. Larry McWilliams (3-5) took the 
Law’s double made it 8-3 and loss.' 

Brooks singled borne the ninth run. Red Sox 8, Blue Jays 7: In the 
Chicago narrowed the margin to American League, Rich Gedman’s 
9-6 in the eighth when Richie two-nm double highlighted a four- 


i uk muu uui uiu uu iuiu ui xivu » , 

irrv McWilliams (3-5) took the Informed of Chen s performance 
& on the second hole, Zoeller laughed 

Red Sox 8, Blue Jays 7: In the and said, “I said he was real good. I 
merman 1 eapne. Rich Gedman’s l say be was that good. 


ace in the 1936 Open at BallusroL 
Before that, VS. Golf Association 
records are incomplete on aces. 

“1 fed great." Chen said, “and so 
surprised." 


victory. Bob Stanley worked two 


— — — r ■ ■ ■ - _ ■ a M| ■ ■■■■« ■ (iwtvi y, ajkjk/ ijmuiby 1 * 1/1 awu 

was never really out of it untQ this year. That’s why Tm stopping." with 1 a single to drive m Rames. p»dres 3, Gants 0: Dave Dra- innings to post his eighth save, 

vear. As a TYianaNrt for two years, Next year for Weaver is now this 5^5^ vecky combined with Goose Go^ Gary LavelLe (2-1) took the loss, 

he had the best of both worlds — year. But as with my manager, he J'* 1 * 6 ** Jim Wanadi jore-load me sage on a six-hirter in San Francis- Orioles 8, Brewers 3: Fred Lynn 
being aWe to stay home during the wfll cmly be as good as his players. 


lout week, then visiting with other man- Sparky Andenon, the Detroit T- 
On- agers when he worked a game. One ^ manager and once the Cincin- 


bases before Francona singled 
home the go-ahead run. 


co to hold off the Giants. Dravecky hit a two-nm homer and Cal Rip- i JB « BB H ra#min d Icorw ,to»»a5ttuj. cm* signer 
(5-4) aQowed six hits in seven in- ken Jr. added a pair of run-scoring own go» nompiMuhip (n-dmoies «no- pavne stewart 


ARP 

Golf 

U.S. Open Golf Championship 

LcmttM first ramdKorBn to HwflSttUJ. Cm* sradler 


“There was a lot of bitting on nings and was supported by three doubles in Baltimore to hel 
both sides tonight," said Jim Frey, of the four Padre double plays. Chides snap a five-game 1 


disappointment oT that defeat. Weaver arrived. 

spontoneoiB stmding ovation They began to talk serious base- as tbe 25 players they have,” said The oblygiry I could always rely on ami three runs over ax’ innings- Twins 7, Rangers 5: Tim Rk * F*nr 

ni- the. .Oriole followers ?ria(T -balk Ana .that s what Weaver al- tfie only manager to wear . a World is Lee Smhn. But if my team stays ^ PUffies^Mets 4c Glenn Wilson Laudner drove in the go-ahead run £££ ^r«i 
mpted Weaver to appear for m ways did best After woritisg a Na- Series champicHiship ring in both dose m the game, I know we always hita two-nm homer with two out in with a sixth-inning single, and Kir- bui gicssoi 

xwe,towavehis capniappreaa- tional League playdf game in Sm feagues. “I never look to see who have a chance because one of the the eighth to lead the Phillies in by Puckett and Greg Gagne each sk“t»r 

-j jr^on, even to use his arms and legs Diego last year, be sat around f<w. the manager is in the other dugout. guys is going to come through with Philadelphia. The homer followed homered to power Minnesota to 

f j to form an 1‘O-r-i-o-Le-s cheer, , hours that ni^it dissecting the ] look to see wbo he has out there a big hit." a walk to Von Hayes and made a victory in Arlington, Texas. Mike 

Maarfafewininmratoler managos’ moves. “But if be had on the field." Smith worked 7 VS innings and loser of Jesse Orosco (1-3), who Smithson (5-5) combined on a I 

in bis office, “it sower with. done this." be would say, “then the Oddly enough, in 1983, his first scattered eight hits. Jeff Reardon, relieved Ed Lynch in the eighth, nine-hitter with Rick Lysander, I 1 


nati Reds’ manager, put- that phi- both sides tonight, said Jim Frey, of the four Padre double plays. Orioles snap a five 
losophy in perspective when the the Cubs’ manager. “It was just one Gossage racked up his 14lh save of streak. They were ma 
Orioles were in Detroit earlier this of those nights for us. We're still the year. The loss went to BiD Las- Ripken Sr. after the 
week. “Managers are only as sofid struggling with our middle relief, key (1-7), wbo gave up eight hits Joe AltobeQi 
as the 25 players they have,” said The only guy I could always rdyon and three runs over six innings. Twins 7, Rangers 5: Tim 


managed by 1 


tear): 

TX. Chen 
Fred Couples 
Tam Kile 


dismissal of 


Amfy Bean 
Rk* Fehr 
Dave Barr 
Andy North 
Bill Glamn 




r >\ A 
■\ ,^\ 


^ inbis office, “ifs over with." 

I / k tet even on that day. Weaver 
seemed to be the only person who 
thought his career as a certified 


done tins." he would say, “then the Oddly enc 
guy in the otter dugout couldn’t ^ the 


[ve done that" _ 

At the tim^ Weaver would say, 


he other dugout guys is going to come through with Philadelphia. The homer followed homered to power Minnesota to 
he has out there ft big hit" a walk to Von Hayes and made a victory in Arlington, Texas. Mike 

Smith worked Th innings and loser erf Jesse Orosco (1-3), who Smithson (5-5) combined on a 
in 1983, his first scattered eight hits. Jeff Reardon, relieved Ed Lynch in the eighth, nine-hitter with Rick Lysander, 
le manager, the the fourth Montreal pitcher, got the Shane Rawley, who took over in who got his third save. The loser 


Gem Sauers 
Canny Wndkliw 


Baseball 


now-deposed Joe Altobdh guided Last out for his 19th save. 

.« _ nr._u o : •n.* S’* « t. . n ai. 


the Orioles to a World Series vie- The Cubs took a 2-0 lead in the proved his record to 5-5. 


the eighth for Philadelphia, im- was Frank Tanona (1-7). 


MarX McNulty 
31-34 — &S Brad Faxon 
33-33 — M Rex Caldwell 
35-34— M Ramie Black 
35-34— W Dick Mast 
3405— 0* Morris Hotadskv 

33- 3 6 W Peler Jacobsen 
35-34 — U seve Ballesteros 

34- 30— itn Furry Zoeller 
3404—30 gii Maroon 

35- 35—30 Bill Israel ion 

34- 34-30 Jefl Sanders 

35- 35—30 Curt Byrum 
34-34—70 Lorry Nelson 

Curtis 5lranm 

□ Larry Mize 
Corey Pavln 
Jack Renner 
Danny Edwards 
,, Ed Fieri 


VOC **., r, •IPCi’J* 

f ;-.P WHILE 

’ ‘ 


. genius was over. That day he had “I just don’t want to manage any- toiy over the Philadelphia Phillies first on a nm-scoring single by 
’ walked into the sunset at age 52— more." And he probably meant iL in five games. In nearly 15 seasons, Keith Moreland and an infield RBI 


Reds 9, Raves 2: Eddie Milner’s Mo 
one-out single scored Dave Con- Jim 


rranx lanaua 11-/1. if • t o. ]• CD r,orl 

Royals 4, Marines 3: Danyl League blandlllgB 

otley hit a three-run homer and American league Buony wodkin 


berg hit a bases-empty 


vounRtoDlavJtoff and play the In the weeks after the season ended Weaver had led the Orioles to only grounder by Jody Davis. Davey cepdon from second base to ignite shot in Seattle to lift Kansas Gty to 
xsiot the restof his wc, cer- last year; the Yankees adted about one Wrald Series title —in 1971, a Lopes’s second-inning RBI single a seven-run 1 1th for the Reds in victory. Mark Gubicza (3-4) struck 


AMERICAN LEAGUE 
East Dhrtsiaa 

W L I 


minty too young to play with Ins him before Steuxbrenner an- 
tomato plants for the rest of his life, pounce d fla t Berra would return. 
Maybe a corporate or corpulent The Monti cal Expos offered him 


him before Stelnbrenner an- Series remembered mostly for made the score 3*0. 


Brooks Robinson’s 
AltobeQi, a genius 


But now The Expos scored in the second 


Atlanta. The Reds, who had only 
two hits entering the 11th, sent 12 


out nine batters in 5VS innings. Dan 
Qwsenberry notched bis 12th save. ^ 


briefly,' when Sal Butexa hit into a fielder’s men to the plate and had seven hits Ivan Calderon and Alvin Davis ho- 

• !iL xL f . 1..91W * aU. r 1 L— t f I f * W ! 


1 ! 

V* 

t : 


- .A,! I 


man could do that at 52, tet not whai a confidant calls “a lot of is out and Weaver is in again. choice with the bases loaded. Mon- in the inning. Gene Garber (1-3) mered for the Mariners. 


SPORTS BRIEFS 


► ^Preseason NTT Basketball Shapes Up 

■ NEW YORK (NYT) — The field for the first preseason National 
luvitathm Tournament has been announced, ending months of spccula- 
*** tkm and putting into motion what could develop into one of the strongest 
U.S. preseason coHege baskabaH tournaments. 
j- Sl John's, which won 31 games last season en route to the Final Four, 

f , .“ heads the fidd of 16 that wulconqjete in four regions; Besides Sl John's, 
‘ • H of the teams competing were in the National Collegiate Athletic 
l' y Association tournament last spring: Duke, Kansas, Daytrai, Alabama- 
l •" Birmingham, Navy, Auburn, Tulsa, WashingtraLTexas-H Paso, Pepper- 
dine and Miami of Ohio. 

j/r Tbe other ^participants will be West Virginia, Louisville, Texas A&M 

and Lamar. Tte two wirmera in eate regional wQl meet Nov, 24. The four 
»j; ■» sentifinalists wfll advance to a doubleineader in Madison Square Garden 
Z. \ on Nov. 29. Ihe chan^Honship game wfll beplayedDcc. I. 

fv 3 Teams Reported Keenon Wiggins 


O • «coud baseman, who has received medical clearance 10 play again after 
: undergoing drug rehabilitation, according to Padres’ spokesmen. 

! • ? . ■ The Padres, who have pubfidy stated that Wiggins wiB never again 
j!'/ play for San Diego, are wdgbing thc offers, B^ said. Wiggins, 27, 
': s ?' underwent a. monthlong drug treatment pregram that coded May 26. It 
- was the second lime in three years that Wiggins had undergone drug 
treatment a. 

j: , In 1982, Wiggjns was arrested for cocaine possession, underwent drug 
■t - . rehabilitation and was suspended from .baseball for 30 days. At the rime 
; of the 1982 inrident, Wiggins was warned by the Padres’ president 
• ,. Ballard Smith, that he wtSd be dropped front the team if he became 
. involved with drugs again. 

v ' . - '• - 

I .. Is Albeck Appears Destiiied.lor Bulls 



At 3 9, Jackson Remains 
Mr, Reliable in a Pinch 


Mllwwkw 
C leva land 

CalMomio 

CM oaoa 

Kansas City 

Oakland 

Minnesota 

Seattle 

Texas 


38 20 ASS — 
31 34 JM 51 

31 26 .544 61 

30 25 JU 7 
28 27 JO? B1 
27 2B .471 91 

19 37 .339 IB 

west Division 

32 25 S53 — 

30 25 .545 1 

30 27 £24 II 
7t 29 A91 31 


» Undv Miller 
Bobby Wadklns 
Grow Norman 
GB John MahoHey 

— Roy Floyd 
5 Vj Deals Watson 
W Bab Eastwood 
7 Bruce Soulsbv 
Bft o-5am Ramin loti 
9Vi Mark O'Meara 
IB Joey Slndetar 

Jell Grvalei 

- Ken Oman 
Vj Jonn Inman 

IVi Rafael Alarcon 
3W David Granam 


Reggie Jackson, it seems, wifi not 
go away. 

Jackson, 2-/or-21 entering 
Thursday's game against the Chi- 
cago White Sox, came up as a pinch 
hitter in the bottom of the ninth 
inning and ripped a bascs-loaded 
single to lift California to a 2-1 
victory. 

Ihe triumph broke the White 
Sox’ five-game winning streak and 
moved the Angels bade into first 
place in the American League 
West. 


oucobo 

really helps." He was referring to MDntnK31 


*vin#U UlC WU1LC JUA UU1CU ill 

left-handed Fallon to pitch to l 
“I figured at my age, 39, 


San Dlesa 
Houston 


Mr, Reliable ma Pinch . 

Chicago 34 21 ATS — 

United Press Inumational really helps." He W8S referring to MontTBol 34 25 SJt 1 

ANAHEIM, California - His Gene Mauch, ihe Angels’ manager. TlZV ” 2 m ? 

legs ache, his hair is thinning, but- who might have replaced Jackson ptmaoHpwo » » » n 

Reggie Jackson, it seems, wifi not when the White Sox called in the ptTtsbun,f1 J® 37 30 14 

go away. left-handed Fallon to pitch to him. ^ D[eoo 34 m 23 su — 

Jackson, 2-for-21 entering “ J « “y ^ ?9. ihe hbwjiw. ^ ^ i 

Thursday’s game against the Chi- y. ou ?£ W/s gonna come in with S a m n 

cago White Sox, came up as a pinch tiie fastball the first pitch or so, try Atlanta « h n 

hitter in the bottom of the ninth 10 S® 1 ahead of me and then strike son Francisco 21 u j <b is 

inning and ripped a bases-loaded n* out." Jadcron said -Tknew jf 

single to lift California to a 2-1 * «nke on the first pitch lillirsaay s Line Scores 

victory. I’d take whack at iL He threw a American league 

-aaMfsasu ssss 1 : 

BSLSESSSaSffiS JESJSSsatssasE 

rface in «cricnn L«g « 

. , , „ „ game-winning RBI this season. It mb m u 

Bobby Grich singed off Gene gave California its 15lh one-run loo l M ussulman isi, Lnmp(7), mvoiie 17 


25 30 AS5 51 h Jim Thorn 

25 34 .424 TVS Dan Poo lev 

22 37 37] I0U Tam Siscfunann 

LEAGUE Tam Casioito 

iMan Tim Norris 

W L PcL GB Hubert Grom 

34 21 JIB — Hate lr*nn 

34 25 JS7A 2 Peter OosUrrtxUs 

32 24 S71 2V3 Scat! Hoch 

31 25 .544 4 Chris Perry 

22 35 386 13 Scon Simpson 

IB 37 3Z7 16 Robert Proben 

West Division Frank Conner 

34 23 J96 — Paul Azlnaar 

31 2* .544 3 John Cook 

30 26 336 3to Bill Sander 

28 2B JOt 51b Lynn Janson 


24 32 A29 9V> Bernhard Longer 

21 36 368 13 Scoff Tavlor 

Hal Sun on 
_ ej Gary Plnns 

ae scores jatumv Miner 

Mike Smith 
Kennv Knox 
n BB1 BOB— 3 11 0 LM RlnkBr 


Nelson (3-2) and took second on a victory couiiii m and wnm.- ub» Truiiiio <51, 

and Iteryl Samins walked, mg bothered me, Jackson said. I Motwaek 121. Boston, boors t«. 


AMERICAN LEAGUE Kennv Knox 

Milwaukee 280 881 BOB— 3 11 0 Lm Rmxer 

BaWmere BM 400 12*-4 9 3 nm Simpson 

Burris, McClure 18). Ladd (U and Moore; gih Moody 
McGregor and Dempsey. W— McGreoor, 5-5. Ken Mahlace 
L— Burris. 34 HRb— M ilwaukee, Cooper 14). Date Riley 
Baltimore. Lvwi CIO). Phil Blockmar 

Toronfo IK 058 001-7 H 2 David Frost 

Boston 208 B2> 40x — B 14 1 ^ Ralph Landrum 

Lea L Mussel man 15), Lamp (7), Lavolle 17). Loren Roberts 


Boone and Daryl Sconiers walked, ing bothered me," Jackson said. "I 
Jackson then batted for Gary Pettis had ice in my veins and a heart of 
and gree t ed reliever Bob Fallon steel and a mind that was unyield- 


> isi. Rod Nuckolls 
1L — Buddy Goraner 
’onia John McGouah 
Mark MBebe 
17 1 Wayne Levi 


MO 481 000— 5 9 1 ervoary Chapman 


with an opposite fidd two-out sin- 
gle to make a winner of reliever 
Donnie Moore (4-3). 

“When you’re not swinging the 


r SmlHtson, Lysander 171 and Laudner; Ton- Gory Marlowe 

mg. 1 renshed these sttuations. ana.Notas<6iandSiauaM.w— smmsoa.5& Tom wmbm 


When it was win or lose, it was a 
time of peace for me. 

“The last couple of years. 


L — Tanona, l>7, Sv— Lysander f3).HR»— Min- ^ RenR 
neoota. Pucketi f2), Gaune (1). Texas. Jomv woadv Btockbum 
"" * w - Stove Ltobler 

Kaasas CMv 3M IM 0M-4 S • Frederick Funk 

Seattle BOB 821 HW 6 I Tony Sins 

GutoLczo. Beckwith 16), OuLsenbefTV (9) and 


Ike Nsw York lie 


Reggie Jackson, taking a whack at it 


bat weB, all types of things go though, my problems have come 5 ? t t l y_ bob b 2 i mo- 3_ 6 t 

through your mind in those situa- from a lack or concentration in 

turns,” Jackson said. “Bui I knew regular sitnations. But I can still w-CubJcm. s~i l— wiikinam. o-i. 

Gene would live or die with me, focus in those big situations, focus '»« 1 

that I wouldn’t be caned back. That all my energy." £?££’ 'ilT^ 

CMCOBD sot 1BB DIB— I 4 B 

California BIB OH 001—4 1 1 

Burra, NBtion (9), Fallon (9) and Fisk; Slo- 


15-35—70 

35- 35-70 

36- 35—71 

33- 35-71 

32- 39-71 
3536-71 

34- 37—71 
3536-71 
3536-71 
3*37-31 
3*37-71 

3533- 71 
3536-71 

3535— 71 

3536— 71 

3537— 71 

3535- 71 
3537-72 
3636-72 

37- 35-72 
3636-72 
3438-73 

38- 34-72 

3534- 72 

3735- 72 
3534-72 
37-35-72 

3536- 72 
37-35-72 

3534- 72 
3536—72 
3636-72 

3536- 72 

3537— 72 
37-36-73 

3535— 73 
3635-73 
3537-73 
3535—73 

33- 45—73 

3537— 73 

3736- 73 
1835-73 

3535- 73 

3736- 73 

3538- 73 
3537— 73 
1535-73 

3537- 73 
37-36-73 

3538- 73 

3539- 74 

3737— 74 
37-37—74 
33-41—74 

3536- 74 
3737—74 

3534- 74 
3539—74 
3737-74 
3836-74 

3535- 74 
19-35-74 
3538-7* 

3536- 74 
3538-74 

3538— 74 
3835-74 

3539— 74 
3536-74 
3737—74 
3737 — 74 

3536- 74 
3935—74 
3639—75 
3735-75 

3537— 75 
3537—75 
3639-75* 

36- JO— 75 
3539-75 
3537—75 
4035—75 

37- 36—75 
3639—75 


<: . ; National Basketball Association, according to a published report. 
r - ■■ ;* Jerry Krause, the Bulls’ vice president for operations and a long-time 
■ /jjfriend of Albeck, iold the New York Times in Friday's editions that 

- V“rhere are some details to work out" before the move becomes officiaL 
f- ., ‘ But he said: “He warns to come here and we want him. So I would say the 


NHL Board Rejects Bid to Alter Playoff Structure 


Transition 


BASEBALL 
Amarfcoo L ea g u e 

CALI FORN l A— Stoned Bill Fraser and ML 


ton. Moore <9) and Boone. W— Moore, 43. L— dtoelCoofc.pnchm to irefroaent contracts. 


Nelson, 33. HR — Chicago, Fisk (151. 

NATIONAL LEAGUE 
St.LoalS BIB BBB 1B0-8 2 ■ 


National Loews 

HOUSTON— Placed Terry PuM. ouHMder, 
on itis I5dav disabled IM. Recoiled Gtam 


“there are some details to work out" before the move becomes officiaL Umted Prm ituemamd 

But he said: “He warns to come here andwewam him So I would say the TORONTO — The National 

, .v chances are very, very good.” Hockey League Board of Gover- 

According to the Times, .neither Albeck hor Krause would reveal the dots, at its meeting here this week, 
details of tte contract, butitwas bdieved lo be for Iteee years and worth refused to tanqser with (he league's 
a total of $900^000.. playoff structure and denied the 


taWished dial Baldwin <Sd not have 
a mqority, let alone the required 
two-thirds, needed for approvaL 
“People here f eh the way it is is 


December because next year’s boning off-ice officials at the blue- 
schedule was nearly complete. lines. 


PHtMonrti (Ml BBB IBB— 1 6 B Dav la, Mietder, from Tucson of me Pacific 

Tudor, Lahti (91 and Nieto; MClMIHamb coast League. 


Brent Wins Vacant Flyweight Tide 


me league’s _ 

ayoff structure and denied the Whalers mushed 14th overall but 
Ltsburah Penguins* request to last in the tough Adams Division, 
itch mvisions. “Suffice it to say it was fairly dose. 

The Hartford Whalers did not but not dose enough.” 
lalify for the playoffs despite hav- The Penguins also are looking in 

a one of the lewue’s top 16 re- better their playoff chanoesTrats- 


lines. 

I ««■ oi^uuvol -n,. a i_* * A enend In Other matters: ■’ .■.■ZIT'.'”: "" Kan " orcl "* 1- co,c,,rr - "wonoa umie 

It the wav it is is ■ The league also voted to speiui n »•»»««« oivumried ** bbo iu hb— 4 6 i end Form^io Kinosooftot tneApoaioctiion 

5500,000 cm a study to explore al- • abenmded that Chica- wiwjMia u«uo. ond coodon ond Nordsse toLmio 

I Haiawm, Whose ”7^1, . j / methods. go and SL Loins would relinquish «.vn«v Onset, IB) and Corter; Koosman, Falb el the Now Yorh-Pom Leaaua. 

14th overall but grirNo. 1 picks in Saturday’s en- PHiLADELPHiA-oaitomd w ^ 

\dams nivioirm Saying ( fraf the large expenditure Ar~.fi f™- Bowler. 5& L— Ormco. J-1 HRs— Phlhdet- ouffletder. ro Portland of (fw Pacflic Coast 

\aams Ln vision. j try draft for name veterans. Jim pMo,somuei (fl«G.wHson m. uom. rkmm jotm nusseii ommo**. 

: was fairly dose, mht ft spokesman for Chica- cwowo 2i> bob kw n 2 first Boseaian. from Perfumt ' 

sh n officials,” John Ziegler, the NHL ^ “C B] . Mororooi no 01 «x-9 u 1 

. . nrmciripnt said fbat the in /r eusing B 0 ’, 5310 11131 “JE DiaCK naWKS gal Trout. Frazier <51. BrusUor <71. Soronsen 

so are looking to .1^. a ,r~ isnlaved manager, Bob Pulford, was in- m wiaomiis; smitn,st.aoira laj.Burto isi, 

f chanasTHtts* game is pi^w terested in fortifying center and Bwnton i9» and Butera, Fimoraid i&j. w- 


Candelaria 181 and Pena. W— Tudor. 57. L— 
McWilliams, 55. Sv— Lahti 14J. HRs— St. 
Louis, Clark (13). Pmsburoh. Thompson (B). 
New York MB 113 IBB-4 6 1 

PMladeMila IB! B00 12*— 5 13 l 

Lynch, Orosco IB) and Carter; Knasman, 
Andersen (6), Rowtoy (8) and VlrglL W- 


NEW YORK— Stoned Robert Lem to. Maury 
Gooden and Kennedy Farmer, outtlelderv 
ana Ron Nordsse. catcher. Assigned Lemle 
and Farm«rtB Klnasoortof tMAmlactikm 
Leaoue. and Gooden and Nordsse to Little 
Falb el the New Yorh-Pom League. 


Montreal BIB 031 40x— 9 M 1 

Trout, Frazier (5). Brusstar (71. 5aronsen 
(II and Davis; Smltn, St. Claire (81, Burke (8), 
Reardon (9) and Butera, Htzaeraid (6). W— 


outfielder, to Parthmt of (tie Pacflic Coast 
Leaeue. Roadled John Russell, outflewer- 
flrst bosetnan. tram Portland. 


(Pop) Robinson. 

Brent, from New York, in 
Outs. Robinson, from-Ptufed 


oved his-Tecordto 9-4 vrithfour knock- 
hia, fdl to 6-l?J-wjth'5 knockouts. 


die team general man 
hard for a change in 
don system. 


makes it advisable to gami ne pos- sn.wtt. 7.2. L-T«ut. 52. sv-Rooraon n?). 

tergh has suggestedthat it move to to the current sw- ^ and J ha * thc BlDes ««*«»« wwwiMti 

thn iMt tvt mntti tm W — IV.; SO* ai let llaUVCS TO UKHIlieu jsT mI m,|>nd,«r Dah Pomn nne olm iMMiiun • M , 


r. to lobby the less competitive Norris Dm- 
<jnalifica- son. Penguin officials proposed 
that Hartford fiQ the Penguins' 


For the Record 

*>*• Phfl AndersoBof Austrafiawon the third ! 

t: ' v. cycling race Friday and moved into second ] 
" *“ behind Acatio da Siva of PortugaL 


of ite Tonr de Suisse road 


He proposed that the top three root in the Patrick Division and 
— rather than four — finishers in that Toronto of the Norris Division 
each of the four divisions qualify jump to ihe^ Whalers’ vacant spot in 
along with the teams with the next the Adams Division.. 


in ite overall standings lour best records. The issue was not Th* 
(AP) voted on, and an informal poll es- off a 


re decided to hold 
on the move until 


table alternative! to the current SYS- ClnctonaW 9BB2BB 8WB7-9 9 2 

fir S era! manager. Ron Caron, was also A»t«ata dobbibbuob-i < 1 

ton. The NHL now employs one ceeJtins a dml. nobs. Poww IS). Franco Mfl) ond Knicctv. 

referee and two linesmen at games. _ ^ . ha , von confer not; smews, comp m. Forater 

e- • 1 He governors announced that nBJ , Dromon (toi. Gamer mi. stmtor on. 

Ziegler said modern technology the home-ice advantage for divi- vy— F ronoo. w. l— cartwr. 13 . hr— cincm- 
vriQ be considered, “including but skm and conference finals wfll be m 

not Hunted to” television replays determined by points erf the partia- gas Francisco bob nobm-o < « 
and dectric eyes, in addition to the pants instead of the records of the Drav»**Y. c«ssoo. ta> khwoov; lo*. 

possibiHties of moving the referee divisions or conferences they repre- lUIlSSmy 1 

to an off-ice vantage point or sta- senL (mi. hr'-so, d*». Atari bmrnT 


Tennis 


DAVIS CUP QUALIFYING 
EnraMaii Zone B. Secnml Round 
BrttMo leads Partaaol 24 
Stephan Shaw. Britain, art. Joao SIlua. Por- 
tosal. 63, 51, 5J. 

Jeremy Bates. Brltola del. Pedro Canwro. 
PorlwsaL 54, 52. 54L 

ABstrta toads Greece M 
Thomas Muster. Austria, Be(. Yorws Koto- 
veionts. gtoms. 54. 51, 51. 




■m*-- 






ART BUCHWALD 


Putting Cash on the line 

VTTASHINGTON — I came this. Everything is in compute 
YY into the office and found mv code. Do vou know what produc 



yy into the office and found my 
assistant, Cathy, crying. 

‘‘What's wroogr 
*Tve been trying to get the 
phone company for two days to 
move the telephone two and a half 
blocks to our new offices.’* 

- “So what's the big deal?" 

“I finally succeeded. Do you 
want to hear the 
rest of it? AT&T 
will come in to 
disconnect the 
phones and re- 
connect them 
for S90 for the 
first hour and SI 
for each minme 
after." 

“You're kid- 
ding me. Not 
even lawyers Bucnwald 
have the nerve to charge by the 
minute." 

She said, “That's not all of iL 
AT&T no longer has anything to 
do with inoiatUng the dial tone. The 
tone can only be created by the 
C&P Telephone Company. They 
charge $94 for a one-time connec- 
tion fee, plus $35 for the first 15 
minutes and SI 1 for each additional 
quarter hour. There is also a S3 fee 
for the cost of the jack in (he clos- 
et." 

“Let me get this straight," I said. 
“AT&T is socking us for the con- 
nection and the C&P people are 
mugging us for the dial tone. Did 
you ask either company how we 
can be sure they don’t waste a min- 
ute while they're doing all this?" 

‘They said we should trust 
than." 

□ 

“Okay, so they are behaving like 
the Mafia. Is that any reason to 
cry?" 

“I'm not finished. If we want to 
keep the same number we have to 
pay extra for that too. They want 
$9.55 per line per month, which 
they call a 'mileage' charge. In case 
you're interested, the}’ charge $8 JO 
for the first quarter mile and 45 
cents for each additional quarter 
mile." 

“That's more than a New York 
taxi charges," I said. “Where do 
they find people to come up with 
these numbers?" 

“1 just got our phone bills for the 
month. We nsed to get one bill 
now we get two — one from AT&T 
for our equipment and one from 
C&P for their service. Here, look at 


ANNOUNCEMENTS 



this. Everything is in computer 
code. Do you know what product 
E3VLPBUT+X. description: 
BUT-SIGNAL, Unit price 51-22, 
total amount S2636 is; 

“Not right off hand," I admitted. 

“It's our button signal," Cathy 
said. “AT&T charges us to let our 
phone ring and button light up. 
They’ve made a price increase ret- 
roactive from July of 1984. but so 
many people have complained 
about it that if you halier loud 
enough they’ll take it off your bill.” 

“There, you see?" I said. “The 
phone company does have a heart" 

“Then there is the $2.62 monthly 
charge for an intercom line." 

“That sounds reasonable." 

“It is except we don't have an 
intercom line. They’re also charg- 
ing us 51.66 for the binder for the 
intercom line we don't have." 

“The phone company would 
never cheat us. Call them and tell 
them they made a mistake." 

Cathy turned red. “I’m not going 
to try to get through again. No one 
can get through to them because 
everybody is com plaining about 
their telephone bills.” 

“What's this charge of $736 for 
a PICKUP BUTTON?" 

“As far as I know,” she replied, 
“it’s this plastic button mi the 
phone. I'm not sure if they're 
pharging us for the button itself or 
the connection when we push it in. 
But whatever it is, AT&T has made 
it retroactive." 

“This is more serious than I 
thought," 1 said. “Take a letter to 
Judge Harold H. Greene, U. S. Dis- 
trict Court for the District of Co- 
lumbia, One John Marshall Place, 
Washington, D.C. 20001. Dear 
Judge Greene, since you were re- 
sponsible Tor the breakup of the 
phone company, the greatest and 
cheapest system in the free world. I 
am writing to you for guidance. 
You have maintained the divesti- 
ture would encourage competition 
and save the consumer money. 
Pray teU, dear Judge, what exactly 
did you have in mind? Since no 
sane jurist would be stupid enough 
to tear apart something that was 
working so wdl I'm sure you have 
a secret plan. You at least owe it to 
the American people to let us know 
how we’re benefiting from your his- 
toric decision. If you don’t teU us 
before we get our next phone bill 
I'm going to print your home num- 
ber in the paper. Respectfully 
yours. An Admirer." 


MOVING 


INTERNATIONAL HERALD TRIBUNE, SATURDAV-SUNPAY, JUNE 15-16, 1985 

John Huston, Jack Nicholson 
Team Up for Trizzi’s Honor’ 


By Janet Maslin 
yew York Times Service 
VT EW YORK — Early last 
IN year John Huston discovered 
a copy of Richard Condon's novel 
“Prim's Honor” in his office, 
where it had been sitting since its 
publication in 1982. Fortunately, 
the book jacket mentioned that 
Condon lived in Dallas, and the 
author bad a listed telephone 
number there. Huston and the 
producer John Foreman called 
him and learned that the film 
rights remained unsold. Huston 
then showed the book to Jack 
Nicholson, who saw it as “a 
French New Wave archetypical 
love picture between two killers 

— you know, deadly but lovely." 

But Huston masted this was a 

comedy. “I told John, Tve been 
wanting to work with you,'" 
Nicholson recalled, “ ‘but I don't 
know if you want me in a picture ! 
don't understand.' ” 

A year later, the film has been 
released and the misunderstand- 
ings are gone. Huston says that 
“PrizzTs Honor,” which opened 
in the United States on Friday, 
“has the same quality as the book 

— it walks a very narrow tight- 
rope, it can turn runny and then 
turn serious.” Nicholson, his as- 
sessment home out by the fin- 
ished product, said, “The man is 
78 and he's still working at the top 
of his form." 

“Prizzi's Honor” tells what 
happens when a stolid Mafia hit- 
man named Charley Partanna 
(played by Nicholson) becomes 
smitten with a glamorous mystery 
woman (Kathleen Turner) who 
turns out to be a fellow profes- 
sional When Nicholson first be- 
gan work on the film, be still ex- 
pected to emphasize some of the 
more wrenching aspects of this 
situation. For instance, he 
thought a telephone call Charley 
makes at a key point in the story 
might cal] for a particularly emo- 
tional tone, and be engaged the 
laconic Huston in a rare discus- 
sion of the specifics. T asked him, 
‘Where do I gp with this scene, am 
I P ag liam, am I hysterical am 1 
in tears,- where am IT " Nicholson 
recalled. “He thought about it 
and said, ‘WeQ, why don't you 
just clip your nailsT " 

Nicholson, in his hotel suite. 



John Huston 

enth usias tically ale an ice cream 
sundae as he discussed this, hav- 
ing lost the 30 pounds (13 kilo- 
grams) be gained for the Charley 
Partanna role. “1 didn't have to 
gain weight but I did anyway, 
because f ingested the part,” he 
said. “I wanted the guy to be a 
heavy in that sense.* Nicholson 
also adopted a thick Brooklyn ac- 
cent and a set of new facial man- 
nerisms for the role, and he nar- 
rowly escaped having to wear a 
hairpiece. ‘That was my idea, one 
of the last things we gave up," 
said. Huston, reached by tele- 
phone in Puerto VaHarta, Mexico. 
T like doing away with as much 

nr nampntaiinn as possible; and I 

felt I’d rather have an accent than 
a prop." 

Brooklyn accents, Huston told 
the cast, would be “the voice of 
the movie." So Nicholson spent a 
lot of time among Brooklyn cro- 
nies he has known for years; so 
did Anjelica Huston, the direc- 
tor’s daughter and Nicholson's 
long-time companion, who plays 
one of the film ’s pivotal roles. 
(“Jack was a joy, Kathleen Turner 
and my daughter, they were all 
just adorable,” Huston said.) One 
day the director visited his daugh- 
ter and Nicholson at their hotel 
and introduced them to the ac- 
tress and playwright Julie Bo- 
vasso, who would serve as the 
film's dialogue coach. Bo vasso 
spoke a few lines in Brooklynese. 


Then Huston headed for the win- 
dow, declaring, “Win you look at 
tins view, kids!" And then he left, 
thus settling the question of how 
the dialogue would sound. 

“When he doesn’t like some- 
thing. he'll tdl yon." said his 
daughter, who plays what she de- 
scribes as “a girl with some guts." 
“When be does, he'll just go on to 
the next scene." Huston worked 
so swiftly on “Prizzi’s Honor," in 
fact, that Nicholson said the fin- 
ished film was a revelation. “I had 
more one-takes in this picture 
than I have since 1 worked with 
Roger Connan," he said. “And I 
got a little shook up by the way I 
looked, so I didn't go to dailies 
much. So when I saw the first 
rough cut, it was the dosest Tve 
ever come to T**mg in the audi- 
ence on one of my own movies." 

What attracted Hn sto n to the 
mat eri al he raid, was “that won- 
derful hyperbole and extrava- 
gance mixed with grandeur ♦h** 
Richard 1 ms in all his best books 
— I thought this one epitomized 
that. It just demonstrated his 
whole approach to life and work." 
Huston had long known Condon, 
the author of “The Manchurian 
Candidate"; they met when both 
lived in Ireland. 

Another quality that attracted 
Huston to the material- Nichol- 
son noted, was the unobtrusive 
seriousness with which it regards 
morality and the business world: 
it compares with Huston’s “Beat 
the Devil” and “The Treasure of 
the Sierra Madre." “John is inter- 
ested in the car dinal sins and the 
cardinal virtUCS," he Said 

Nicholson has often played vi- 
olent characters, but Charley Par- 
tanna was a killer with a differ- 
ence. “This guy doesn’t get off on 
murder, he’s not pathological" 
the actor said. “This is his job. his 
morality. I don't play killers sym- 
pathetically, because I don’t sym- 
pathize with killing, but this 
called for something different be- 



Kathleen Turner. Jack Nicholson in “PrizzTs Honor, 
iracter not radiate Nicholson's rising department for “Prizzi’s 

. _ V • ill U^rtAr •* AAivnOrt im n'lfh t rldMT-tn 


called for something different be- 
cause it was black comedy. 1 
wanted him to be funny, but I also 
wanted you to see him kill some- 
body and for that to be believ- 
able. And I didn't want it to seem 
like two different people." 

Something else mat was impor- 
tant to him and Huston from die 
film's first frame was that the 


character not radiate Nicholson's 
usual cunning. “John wanted you 
to know that the man didn't have 
a secret plan,” he said. “This man 
had to be primary, simple, dumb 
and very competent at what he 
did. The audience couldn’t be 
thinking, *Oh, Jack's always got a 
little something up his sleeve,' '* 
he said. 

Nicholson's attention has been 
focused on this fihn partly as a 
result of the much-publicized 
abandonment of another “The 
Two Jakes," the “Chinatown" se- 
quel he was to make with Robert 
Evans and Robert Tome, “two 
of my oldest friends." 

“Hey, we had some words, but 
these are gnys who have words 
anyway." he said. “The sad thing 
is it's our own goddamn fault. We 
blew higher than a kite over some 
pretty minor issues, and we got 
ourselves too dose to a deadline, 
and we can't be mad at Para- 
mount for that." 

Meanwhile, Nicholson volun- 
teered his services to Fox's adver- 


Honor.” coming up with a slogan 
he said the studio finally decided 
“looked too sad on the ad." 

“Killers,” he wanted to say of 
the film's plot and its lethal com- 
plications. “You Always Hurt the 
One You Love." 

■ ‘A Great American Marie* 

“Like Woody Allen's ‘Purple 
Rose of Cairo.’ the only other 
great American movie o'f 1985. 
Huston's 'Prim's Honor' delivers 
a kind of high most commonly 
associated with controlled sub- 
stances, or with works of art of 
liberating imagination." Vincent 
Canby wrote in The New York 
Times. 

“This adaptation of Condon's 
phantasmagorical and witty novel 
is a breathless roller-coaster ride 
through a small part of the Ameri- 
can Dream that has all the aspects 
of a f unhouse, but it's a funhouse 
in which the skeletons that jump 
out at you are 'still quite fresh. 
Nicholson's work is as good as 
anything he’s ever done." 


PEOPLE 


Barbara WaliBt4aWefi 
CMef of Telemioafm^ 

The television newswonan fty, 
bm Writers will wed iheta&Bs. 
man Mem a Addson in Ifc.fty 
Walters. 51 is co-host of the ABC 
News "20-211" show andhmt 
own interview specials. Add** 
55. founded Lorinur. a oama*. 
cations company best knows I* 
television series, “Dallas." tifafecrv 
has a teen-age daughter arnfAde^ 
son three children from jxtBUuj 

marriages. 

a . ; J;J 

The director Steven Sp£e*wre, 
57. had a dose encounter pf-aa«£. 
er kind witnessing the binkfeifae 
actress Amy Irving. 31, of their son 
Max. The 7-round, 
kilugraiul baby was bore Thursday 
in Los Angeles. 


Britain for an right-day cfussde iu 
preach by satdhtc-rcbycd fcfe\> 
sion to 51 towns. Graham, 66, *, c 
appear from June 25 to "Sr at j 
soccer sodium in Sheffield, His 
sermons will be relayed; to civic 
centers, school lulls and ihcaim 
from Dublin, to the Shetland Is- 
lands, off the coast of Scotland. 

□ ’ • . ; 7 

The Italian conductor Bknrda 
Chrifly has been chosen te replace 
Bernard Haitink as principal door 
doctor of Amsterdam’s Cowenge- 
bouw Orchestra in 1988. attaches* 
ira spokesman said. 


A bronze statue of Dtt&fe El 
Eisenhower, showing the former 
president in his milrtarv hnffprtn, 
win be unveiled Saturday aT the 
museum erected in his hotter in his 
hometown of Abilene, Kansas, The 
statue will fax the chapel where 
Eisenhower and his wife, Marie, 
axe buried. Senator Robert (Ms, a 
Kansas Republican, will be lire 
main speaker. 


B. B. King, Yd Bmuier, Burt 
Bacharach, Sbeena Easott and Ju- 
lian Lenoon were not enougbto art 
a star-studded charity show off Uhi 


network decided to cancel an Aug. 
18 benefit concert in Bergen in sup- 
port of the United Nations Fund 
for Population Activities because 
not enough entertainers accepted 
the fund’s invitation to perform. ! 


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Wert Gwinany 

fttfowmg fringe benefits apply: 

A. Housing AOowonce 
& Hofc fays^Q calendar days plus 
look hofidoys. 

G Om return car ticket home, 
reloc a tion dlowanoq medied 
insurance & company oar 
D. Two yeer con trod 

Please mat resume (Oc 
Ame rican Industrial ML Ine. 

7775 Cooper Rood 
CmdnnqtL OH 45242 USA 
Telex: 21/4442 AMffiNC- 


EXECLmVES AVAILABLE 


QERMANAMERICAN 

US. Cjtasn, qge 63, male bodieka', no 
ties, hat Jewnh, fajndaOy indepen- 
dent, triSngocJ, wflfina to ndooede / 
trove I, |ust rateed as Pfccoonfexdor of 
n leri ud iond corporation. Wert 

Cjwimv. Am seeking pc^on of Irurt 
(no. sales pb) as responsible / mature 
assHtant until permanent address pref- 
erably ariude the Federal Republic. 
W3I corokto- philanthropic octMties. 
Own neiable cor. 

Write fn confidence toe 
IHT. BaeZVQ, FriedridMr. 15, 
D6000 Fronkfurt/Main. 


INTLMARKETWG 
SALES EXECUTIVE 

USDutah otizsn, 37, presently 
Dwclor European Operatioiv with US 
marfcefrig sendee compemy far hMech 
uxWy (cornputeri-telecQnij seeVs new 
dirfwwes m a paslban with venture 
CcpaoTGrom weh mil acquisitian t 
"waiment program at investment / 
portfoSo monogem e nt executive. 

Ph *JEW* ‘ Hrnirtd Tribune. 

OT2I Neuafy Cedmc France 


Vtitanaden. Wert Germany 


EDUCATIONAL 
POSmWS WANTED 


r j J- T' vt» T l«i : 

EbSri 




DOMESTIC 

POSmONS AVAILABLE 


# COUPIE 

Mem 8 wife. Houseman, gdidenai, 
hausekaeper oak, driver. To work on 
smctil wetertront estate on eastern 
shore of Moryfcnd, 80 rides from 
Wash. DC Sepfeaie home, meat. an. 
$1000 per month plus bonus for long 
term employnw*, 2 weeks peed vaca- 
tion 8 fare home. No children- Send 
complete information indudmg pic- 
tures. beorvwwm London or Faro, fiox 
2033. Barton. MD 21601 USA 




miWl.-., 1,-| 

Tgjte y 





2233 








■■ 


MONTE CARLO 
PARK PALACE 

Mu gnifi e er ir oportment. 116 iq. meters 
partly furnished at Park Palace, oppo- 
rtfe me cam cmd Hotel de Par^ in itie 
Golden Tnande af Monte Carla, new ' 
bufcfaiQ, 5th floor with front an rev 
terraces, celor & podang. 

For frifai uui ic n: Please cxA 
Mas H. SdiedW, at Rhembs-g. 
West Germsmy Teh (02B43) 16221. 




Cmitrqd eaploymem now available m 
AuBro^.Europe^AftMe ^..Paofic 
Bonn & the For Bast Benefits indude 
BKWM salary, free hounim/iransnir- 
tarton & lax exempt status. Currem 
apmirras m rtearorua, coretrudKin. 
petnochem. meaca. aviation, food 










OOMPIETE AND CONTCDGmiAL 
B0SU4ESS SERVICE 
Now avolabie to eover al yaur prafes- 
soned needs in Swiaoiana. 

Far fiA details contort: 

CampehncB Service (023 217366 
8, Omrias Humbert Cb-1205 Geneva 


iS3 




tiiwkAtLiiif'i » in d I 


E 


M',|:.fJ I M 


Sdiam Diamonds, Jewelry 

Export pices direct from factory. 
Centro Intemotiond Rdmt, Henna 
. BJronee. PQ Box 266TSte 1509. 


YOUR OFFICE AWAY FROM HOME 

• OffrasfMtmogeniBir Services 

• Company Fbnnati o mi 

• How la do Business tnfcrrf 

_ FROM SWriZBSAND 

Bmom Servkys Consuft Ccrp. 


TRAVR OPPORIWBTY- Loaim far 




'-9\ /Urii i 


1210 Brussels. Tefc 322/ 218 28 «, 

open weekdays Asm-dpm, Sat. 2-4pm. Tet 01 /21 1 72 &. Hxs BT3 062 


1 frjkngual secretary 


;rr< 

STi'iflSS 


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