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

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The Hague and Marseille 

WEATHER DATA APPEAR ON PAGE 18 

No. 31,828 


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* ZURICH, THURSDAY, JUNE 20, 1985 


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ESTABLISHED 1887 


U.S. House Votes 
limit of 40 on MX 
In Rebuff to Reagan 


By Steven V. Roberts 

New York TimaSerrin 

WASHINGTON — The House 
of Representatives has voted lobar 


The details of any final compro- 
mise w31 be settled by a House- 
Senate eonfen^ice, but the vote 
it d rm Th i«* both . houses of 
Congress wanted toplace tight re- 
strictions on the MX program and 


4 ; • Tviivj.. ^^j.'^gcapon 10 a toianxfia 
• •. : J ‘'“icla Th c Tuesday night vole was an- 

s, sl *W5-WyW' other setback m the Reagan adnrin- 
uU »i» ‘ 1 ' ■’ tstration’s struggle to kero the MX. 

ndssile all «& hA. the 
< ’ 1 f White House reluctantly accepted 

’ * m - : ’ j bJ 1 *- a proposal in the Senate dux would 


a. V. 


allow the purchase of 12 new mis- 
siles in the fiscal year beginning 
Oct. 1 and to linht the operational 


'' ,r '* 1 1 drlm^ % Ocl 1 and to limit th 
• 1 ivi Nt force to 30 weapons. 

'Umi. ‘ ***hl ^ 

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Reagan Bars Concessions 
To Terrorists in Hijacking 


By Bernard Wcinraub proximaiely 40 American hostages 
New York Times Service m Beirut who were aboard the 

WASHINGTON — President Traiw World Airlmcs jet hjacked 
Ronald Reagan, vowing that the last Fnday after leaving Athens. 
United Staus^wxdd never give in Mr. Reagan issued a warning 
to terrorists, has called on Shiite that tint spedficafly included Leb- 


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Dollar Regains 
9 SomeOround 

LONDOT4. — The dollar re- 
covered late Wednesday some 
of the ground it had lost Tues- 
day and earlier Wednesday. 
Traders were awaiting Thurs- 
day's release of ' a prdnninary 

estimate of second-quarter 
growth in the U.S. grossnaiion- 
al product. 

Predictions of GNP growth 
ranged from nncfaazmed to AS 
percent. A trader in F rankfo rt 
■mid that anything more than 1 
percent would help the dollar. 

The dollar's relative recovery 
followed a steep decline on 
t Tuesday, after U.S. banks art 
their prime leading rale to 9 5 
percent. Details, Page 13. 


. The proposal op. the MX was 
adopted by ■voice' vote as an ameod- 
meat to the Nil outlining programs 
for the Defense Department. But in 
the key vote in a series of parlia- 
mentary twists and turns, the limit 
of 40 wiisriles was approved by a 
.vole of233- 184. Thirty- two Repub- 
licans joined 201.' Democrats. 

The amendment would efiminaie 
$2.1 billion earmarked by the 

Anned Services Committee for the tv. * 

John L. Testrake, captain of the TWA airfiiier, talks with reporters from the pilot’s c 

ed to finance die deployment of 40 

Red Cross Refuses Role m Mediator 

rooks, Democrat of Massadtu- . ,■ ~ ,, , 

seus^n^f “S^seri- (rfoup bjTfB Parties m Hijack Must Negotiate Condmons 


hijackers in Lebanon to free their anese leaders. “Those in Lebanon 
American hostages without condi- who commit these acts damage 
lions. their country and their cause, and 

Speaking Tuesday rdght at ana- hold than accountable," he 
tiooaUy refcvisod news conference, said. 

hesaid: “American will never make In response to the hijacking. Mr. 
concessions to terrorists. To do so Reagan proposed several measures 
would only invite more terrorism.*’ including a warning to aD Amen- 
Tben, in an obvious reference to cans unvdmg through Athens In- 
Israd, be added, “Not will we ask temational Airport that secunty 
nor pressure any other government thoeislax. t 

to do so." The hhackas of the 1 am urging that no American 
a im Fririssu enter any Middle Eastern country 


would beprorid- John L. Testrake, captain of the TWA airiroer, talks with reporters from the pilot’s cabin, 
deployment of 40 

Red Cross Refuses Role as Mediator 

.. _r i... V 


nor pressure any other government . . 

to do sa" The hnackos of the I am urgmg that no American 
TWA jet, seized Friday, have called Mtddk Eastern country 

for therdease of about 700 Leba- does not publicly condemn 
nese Shiite Moslems detained in and disassociate itself from this 
southern Lebanon and now being atrocity and call for the immediate 


held in IsraeL 


safe release of our ci tizens, *' 


amendment, expressed the senti- 
ment on Capitol HOI this way: 
“People have had' it up to then 


Reuters 

GENEVA — The International 


Saying that “we are in the midst Reagan said, 
of a dangerous and volatile silua- The session Tuesday night was 
non,” MTReagan dedmed to an- Mr. Reagan js first formal press 
swer specific questions about ad- conference since March 21 and his 
ministration efforts to free the 40 third since beginning his second 
American hostages ca: what actions term m January, 
the International Committee of the Mr. Reagan appeared grim- 



more than 700 Lebanese Suite tional security adviser, denied Red Cross might be taking to ar- faced as be read his opening siate- 
Moslem prisoners in return for Wednesday that the U.S. request ranee a settlement of the hostage mem and responded to numerous 

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throats wim the MXnnssue. we Committee of tire Red Cross said about 40 American hostages held was an attempt to use a broker in crisis. questions about the Americans 

want to get that behind us. scan in Bonn. an exchange involving the hos- Mr R»inn nrped an mrfensiori seized bv Shiite cumnen aboard the 


wam rogei mMDoimuus. Wednesday that it cannot act as an 

President Ronald Reagan ongi- inter mediar y between the United 
nally wanted 200 MX missiles but States ^ fmri t0 5^,^ ^ ^ 
scaled bade, his proposal to 100-two lease of prisoners held by the Israe- 
years zfio. Accordmgto Represen- & 35 pSrtrfdfOTS to end the 


Airlines 


an ezrihimg e involving the hos- 
tages. 


tative Dave McCurdy, Democrat Beirut hostage 

of OUahoma, a co-««har of the -i t ^ not our mandate to act as 

811 intennediary beo^ro two gov- 
oc^era^ have tocon^TOH j^mnenls vdto have permanent aiKi 

direct contacts," a spokesman said, 
most be deployed m groups of 10, -pv. i tnitni 


m- .1 B . .. j j aau iwuuuir aiuu un. mu UUII utc auiuo ui u* luwuv ut . . , . - • — 

recoraak the Senate plan to build to j^pmach I srad over its Shiite prisoners.” _ , behind the scenes some arrang 

(Owtinaed oa Page2, CoL 2) intentions concerning the release of Robert C McFariane, the na- fContiiJBedanPage2,CoL4) 


inBeiniL an exchange involving the hos- Mr. Reagan urged an extension seized by Shiite gunmen aboard thr 

The hostages were passoigers tages. of the U.S “armed sky marshal TWA plane. The statement itself 

and crew of aTrans World Airlines Israel has said it would consider program" in international flights of had been worked on by Mr. Rea- 
plane seized by Shiite gunme n last releasing the prisoners if it received American carriers. He also pro- gan, Donald T. Regan, the White 
Friday cm a flight from Athens to a request from the United States posed that U.S. airlines “review the House chief of staff, and Patrick J. 
Rome. but President Ronald Reagan has wisdom of con tinuing any flights Buchanan, director of communica- 

Larry Speakes, the White House «id he would not do so because Jt into Athens until the security situa- lions, until just before the news 
spokesman, said Tuesday in Wash- encourage further terrorist tion there improves.” conference. 

ingtop that the U.S. government inadeni^ His proposals signaled .thesiron- The president reiterated that he 

had asked the Red Cross to “girt in . McFariane said, “The no- ggst moves that the administration would not negotiate with terrorists, 
ton rb with the Israelis” to “ascer- * M3 ° K & bout, and it is flat wrong, has proposed so far against inter- He indica ted that he would not 
lam the status of the release of the United States is urging national terrorism. The effort ap- 35k Israel to free the hundreds of 
Shiite prisoners.” «- . behind the scenes some arrange- patently is designed, however, not Shiite prisoners whose release has 

Robert C McFariane, the na- {Continued an Page 2, CoL 4) to jeopardize the lives of the ap- been demanded by the hijackers. 


Ronald Reagan 

“America will never make con- 
cessions to terrorists," Mr. Reagan 
said. “To do so would only invite 
more terrorism. Nor will we ask nor 
pressure any other government to 
do so." 

He added, “Once we head down 
that path, than will be no end to it 
— no end to the suffering of inno- 

(Coa tawed on Page 2, CoL 6) 

Excerpts from President Ranald 
Reagan's statement on die H- 
jadting. Page 2. 


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Soviet Cancels Sea Talks Laser Test 

Alter Shift by Pentagon On Shuttle 

- * - """ - : — 1 JsaFaUure 


'TV-.’V.li «] B3ft 

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By LesEe H. Gdb 

New York Time Service 

WASHINGTON —For the first 
time in the 14yeare crfaU.S.-Sovici 
^greemenr on preventing danger- 
,jm inddentsar sea, naval ofifiosn 
[rom the twonaticms havcfaSed to 
bold their annual meeting. 

Reagan -administration offiq*l s 
said that Moscow had canceled the 
meeting, scheduled far earlier this 
month in Washington, after the 
Pentagon changed the tenns for the 
session. The officials said this could 
jeopardize what they see as one erf 
the most successful miKtaiy-nialed 
pacts between the nations. 

Senator John W. Warner, a Vir- 
ginia RepuMcan who, as secretary 
of the navy, was one of the negotia- 
tors of the 1972 accord, said Tues- 
day that “it is imperative we pro- 
ceed” with the meetings. *Wc 
should not link the operation of the 
agreement to probUxos elsewhere 
in the world." 

Officials said that Defense Sec- 
retary Caspar W. Weinberger had 
derided that the trip to fix: United 
States by Sonet naval officers 
jbould be shortened and shorn of 
3&1 the usual social engagements in 
retaliation for the March 24 killing 
of a U.S. officer who was collecting' 
intelligence in East Germany. 

Pentagon and State Department 
officials said that Mr. Weinberger 
had made the derision despite 
strong opposition from the navy 
and the Slate Department and 
without the usual high-level delib- 
erations at the While House. . 

These Officials said Mr. Wein- 
berger had ordered the navy to in- 
form its Soviet counterparts of the 
change without having discussed 
the matter with Secretary of State 
George P. Shultz or Robert C 
McFariane, the national -security 
adviser. . . . ! 

^Administration officials said the 
Soviet delegation was to have visit- 
ed the Umtai States from June 9 to 
17, with formal talks scheduled for 
June 11 to 13. They said that; about 

a week before the meetings were 10 
begin, Mr. Weinberger and Fred C 
Ikle, the unders e cre t ary of defense 
for policy, told the navy to idl 
Moscow that the trip had been 


John W. Warner 

shortened but not to explain why. 

On June 7, two days before the 
talks were to begin, Soviet diplo- 
mats told the Sate Department 
that thdr team would not be com- 
ing. The Soviet note charged the 
administration with having 
changed the schedule unilaterally 
and having introduced “extraneous 
factors.” 

Mr. Weinberger, in a statement 
issued Tuesday by his office, said 
the two sides bad at first agreed to 
hdd the regular annu al meeting 
this month “so as to continue the 
professional discussion that both 
rides agree are important to our 
mutual interests.” 

But, refecting to Major Arthur 
D. Nicholson Jr, the member of 
the UJS. nrihtaiy nrisaon who was 
shot in East Germany, Mr. Wein- 
berger said, “In view of the murder 
of Major Nkhcdscu by a Soviet 
soldier and die failure to apologize 
or even compensate the family for 
this tragedy, we (fid not think this 
was an appropriate time to include 
a larger soaai program. 

“The Soviet ride informed us on 
June 7 that they had decided not to 
come for the talks at this time, 
apparently not wishing, to have the 
substantive talks without a large 
social program." 

He said that “both sides agree to 

(Continue* o* Page!, CoL 8) 


The Associated Press 

CAPE CANAVERAL, Florida 
— Theaxr. force fired a laser beam 
Wednesday in-what was to have 
been the first space shuttle test of 
the 13 .Sl program to create a space- 
based missile defense, but the test 
failed because the shuttle Discov- 
ery was out of position. 

“Looks Hire we got some bad 
numbers in the digital autopilot," 
the spacecraft’s commander. Cap- 
tain Daniel C Brandeostrin, re- 
ported when he found the shuttle 
180 degrees out of position when 
the laser was fired from Marti, Ha- 
waii. 

The astronauts had mounted an 
eight-inch (20.5-centimeter) reflec- 
tor in a shuttle window as a target 
for the low-powered laser. But “it’s 
obvious we're not pointing at the 
ground,” Captain Brandenstew 
said. 

Mission Control had radioed a 
series of numbers to the ship’s com- 
puter that should have directed the 
autopilot to align Discovery prop- 
erly. Captain Brandeostrin said it 
appeared that the numbers had 
«wo seat in statute miles instead of 
nautical miles. Ground controllers 
concurred. 

“Sony about that,” a Mission 
Control spokesman said. “Looks 
like well nave to try later in the 
flight” Another opportunity is 
available Saturday. 

The Air Force add that despite 
the out-of-position shuttle, the la- 
ser (fid “inummate” iL TJris, it said, 
might proride some useful data. 

The lest of the laser, an amplified 
beam of light, was not meant to 
gather data cm the ability to destroy 
an object in space, but rather on 
how much the light spreads while 
traveling through the atmosphere 
and how corrections for such 
spreading can be made. 

The test also was to help deter- 
mine if a laser can track a fast- 
moving missil e warhead. The shut- 
tle, 220 miles (356 kilometers) 
above Earth, was orbiting at 17,400 
ntiles an hour (28^280 kflometers an 
hour), slightly faster than the war- 
head of an intercontinental mhaale 



Shiite s Stronghold — 
A Hostage Hideaway? 


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The scene at Frankfurt Airport after a bomb exploded Wednesday, killing three persons. 

Bomb Kills 3 at Frankfurt Airport 


By William Drozdiak 

Washington Past Service 

BONN — A bomb exploded in a 
crowded departure lounge at 
Frankfurt International Airport on 
Wednesday, killing three people 
and wounding 32, the police said. 

Police investigators in Frankfurt 
said there wore no claims of re- 
sponsibility, nor did they immedi- 
ately discover any solid dues in the 
wreckage indicating who could 
have planted the bomb. 

The explosives were lodged in a 
wastepaper basket in the miema- 


tore a hole three feel (one meter) 
deep in the concrete floor and dev- 
astated many check-in and infor- 
mation counters. 

A man and two children were 
killed. All wore passengers but 
could not be immediately identi- 
fied because the bodies were too 
mutilated, according to a police 


nonai ogjartme lounge close to ine 
desk of Italy’s Ali talia airline. 

But the ticket counters of several 
other foreign airlines were nearby, 
so it was difficult to determine 
which Hue. if any, was the actual 
target, the police said. 

The blast was ro powerful that it 


The explosion took place in the 
early afternoon beyond the security 
zone where baggage is inspected 
There was no wanting 
It was the worst attack ever at 
the airport, which serves as an con- 
necting center for interna tional 
flights freon all of Europe. Previous 
terrorist incidents have taken place 
there but there had been no deaths. 
The blast, which occurred as 

noon air traffic was earing, left a 
wide area littered with ripped bag- 


gage, broken glass and small fires. 
A fufl-rize replica of a Red Cross 
plane suspended from the ceiling as 
part of an exhibition caught fire 
and was tom from its moorings. 

The Frankfurt police president, 
Karl- Heinz Gemmer, said at a 
news conference that the force of 
the blast was so great that “the 
explosives must have weighed sev- 
eral kilos.” 

He said that he based his esti- 
mate oa the extent of damage to the 
departure lounge, not on an analy- 
sis of the bomb fragments. 

A British passenger, Alec Ballan- 
tinc, who was returning to his home 
in Edinburgh with his wife, said: 
“AD we heard was a bang and we 
saw two flashes. One of the air- 
planes attached to the ceiling col- 
lapsed and we got blown off our 
seats." 


fohn Kifner 

New York Time Service 

LARNACA, Cyprus — The 
most likely places for the U.S. hos- 
tages to be held are in the sprawling 
shantytowns around Beirut Inter- 
national Airport. 

The areas are warrens of rin- 
derblock hovels set amid a few larg- 
er apartment blocks and houses in 
a maze of dirt lanes that have be- 
come a staging area for Shiite Mos- 
lem militancy. 

It would be nearly impossible, 
particularly given the mobilization 
of heavily armed Shiite militiamen, 
for an outsider to determine exactly 
where the hostages are bring held, 
let alone for a commando force to 
free them from what are presumed 
to be several different locations. 
While the area is referred to as 
the southern suburbs,” of Beirut, 
a more accurate picture is conveyed 
by the local phrase “belt of ntis- 

Such settlements used to circle 
Bdnrt -before Moslems and Pales- 
tinians were expelled from the 
Christian areas in the north and 
east at the beginning of the aril 
war 10 years ago. 

Traditionally, the Shiites have 
been the most impoverished and 
politically underrepresented group 
m Lebanon’s unwritten 42-year-old 
system of dividing the spoils in 
which political posts are allocated 
by religion. 

The Shiite areas have not only 
absorbed waves of refugees from 
Lebanon’s cycle of violence — par- 
ticularly Suites from the south who 
fled Israeli invasions in 197$ and 
1982 — but have been themselves 
the targets of bombs and shells. 

Around the ruined Sl Michael’s 
Church, at one of the half-dozen 
passages across the Green Line that 
divide the Christian East Beirut 
from mostly Moslem West Beirut, 
apartment buddings for blocks and 
blocks have been reduced to a 
moonscape of gray lumps of rab- 
ble 

At the Shiite militia checkpoint, 
a huge portrait of Iran’s Shiite lead- 
er, Ayatollah Ruhollah Khomeini, 
is propped against a useless street 


lamp stanchion, staring balefully at 
the Christian side. 

The main force in the Shiite com- 
munity is the Amal movement, 
whose name means “hope" in Ara- 
bic. 

Amnl has tried to keep a separate 
identity over' the years from the 
other “leftist" groups operating in 
West Beirut. It came to prominence 
after 1982, when the aimed Pales- 
tinian presence — whjch had bol- 
stered the power of the traditional 
Sunni Moslem leaders — was deci- 
mated by the Israeli invasion and 
as Shiite refugees spread through- 
out the western halt of Beirut. 

Americans Favor 
Conceding to Hijack 
Terms, Poll Finds 

Washington Past Service 

WASHINGTON — A majority 
of Americans would rather have 
the United Slates give in 10 terror- 
ist demands than see further harm 
come to the victims of the hijacking 
of TWA Flight 847. according to a 
Washington Post-ABC News poU 

Fifty-right percent of the 508 
people interviewed said the United 
States should negotiate and accede 
to Lebanese Smite Moslem de- 
mands if the alternative is further 
injury to or murder of about 40 
American men still being held. 

Thirty-four percent said the 
United States should not negotiate, 
even under such circumstances. 

A majority, however, rejected the 
idea that the United States is help- 
less against terrorism and endorsed 
the use of force against Middle 
East nations that are found to be 
aiding terrorists who prey on 
Americans. 

Asked whether Israel has “done 
what it should to help resolve the 
hostage silua lion.” 50 percent said 
it has not, 25 percent said it has, 
and 25 percent expressed no opin- 
ion. 

The hijackers are demanding 
that Israel release more than 700 
Lebanese Shiite prisoners. 


INSIDE 

■ Arafat faction of the FLO is described as the only winner in the 
Syrian-engineered accord on ending Brinn fighting. Page 2. 


U.S . Is Seeking More Low-Income Foreign Students 


■ President Pieter W. Botin of South Africa criticized Western 
nations far & “double standard” toward Pretoria. Page 2. 


■ US. Army officials report that Communist efforts to recruit sol- 
diers as spies has increased sharply. ftp 3. 

■Josef Mengele’s son told a German magazine about fife of Nazi 
fugitive onthe ran and said be saw him oniy twice. Phge4- 


■ Mefaart AlS Ago, chang in g his testimony, said in conrt that ttoe ehfns. - 
wasa thirdTbrk presentin the square where heshot the pope. Page 4. 


By Edward B. Hske 

New York Times Service 

NEW YORK — At the Patrice Lumumba People's 
Friendship University on the outskirts of Moscow, 5,000 
students from 105 countries study alongside young Russians 
training for positions as Third World advisos. 

The non-Russians are among an estimated 50,000 foreign 
students in the Soviet Union, most of them from developing 
countries and virtually all on Soviet government scholar- 


BUSINESS/ FINANCE 

■ British Telecom, the centerpiece of the UJC govanmenf s plan to 
return state-owned rinnpaniufi to private ownership, said it earned 
$1.93 bOfion m its first year as a private concern. Flag® 13. 

mV & personal income in May fell OJ percent from April, a month 
Lecfa Walesa said he mcr *a lsa wumBaaDyh%h levels because of special factora Page 13. 
told bv Polish (rffitiflls to SPECIAL REPORT 


told by Polish officials to 
stop public attacks on 
the government Page 4. 


[Spains preparing for its entrance into the European Coramnnity. 

• Page 7. 


Colleges and umvmities in the United States have far 
more foreign students — 340,000 of them — bm of a 
different sort. Only 7,500 are in the United States on 
government scholarships. The rest are supported by their 
fanrifies or home governments or are on private scholarships. 

“Even those firan devdoping countries tend to crane from 
relatively affluent farmhes,” said Elinor Barber, of the Insti- 
tute of International Education. 

Because the education of foreign students is supposed to 
be, among other things, a means of buflding good will and 
exteo<fin|U5. influence, these statist! cs are attracting atten- 
tion in Washington. 

According to a recent U.S. Information Agency study. 


current policies bring members' of “ruling elites” who are 
“not necessarily representative of the forces of change in 
thdr native countries.” 

Steps are bang taken to open things up. Foflowisg a 
recommendation of the National Bipartisan Commission an 
Central America, a group that was headed by Henry A. 
Kissinger, the former secretary of state, the Agency for 
International Development has announced a new program 
that will bring 1,200 undergraduates from Central America 
to the United States this fall. This number will eventually 
reach 10,000 a year. 

Legislation has been introduced in both the House and the 
genate that would opai the program to “financially deserv- 
ing and academically promising students” from other devel- 
oping conn trics. 

Accordipg to the House majority leader, Jim Wright of 
Texas, a principal sponsor of the so-called U.S. Scholarship 
Program for Developing Countries Art, this would spur 
development and stability and broaden the country’s “base 
of popular support” in the Hurd World. 

“By taigeting low-income students m developing coun- 
tries," he said, “the program we propose will send die world 
a clear message — America is a friend not just of the 


economically well-off but of those who crane from poor 
families.” 

College officials are worrying about the heavy paperwork 
required by the Immigration and Naturalization Service 
regarding students who want to study here. 

The problem goes back to the Iranian hostage crisis of 
1979-1981, when immigration officials were embarrassed to 
admit to Congress that they did not know the whereabouts 
of many of the 51,000 Iranian students in the United States 
at the time. 

Red faces gave way to red tape, as the service imposed new 
regulations. For example, colleges must now complete elabo- 
rate official forms every time a foreign student seeks to 
chang e his or her academic program. 

The National Association for Foreign Student Affairs is 
campaigning to eliminate some of the requirements on the 
ground that many are unnecessary and improperly involve 
immigration officers in educational decisions. 

“We did a survey of 35 universities and found that they are 
now spending an average of $44,000 apiece on compliance,” 
an association spokesman said. “For the country as a whole, 
this means $50 million that could be spent on substantive 
programs." 





Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


Arafat Is Seen as Only Winner 

In Accord on Beirut Fighting; 


By Jonathan C Randal 

Washington Post Service 

DAMASCUS — Hie Syrian-en- 
gineered accord designed to end 
the long siege of Palestinian refu- 




that neither Damascus nor its Shi- 
ite allies in Lebanon had succeeded 
in bringing the Palestinian defend- 
ers of the refugee camps under con- 
trol 

That failure, in the view of the 


security inside the camp be entrust- 
ed to the weak Lebanese gendar- 
merie and not to the Lebanese 
whose 6th Brigade is made 
st entirely of Suite soldiers 


(cents hm. a mrafor Damask ^puiating lial the Pakainims 


and all other major parties except 
Yasser Arafat's Palestine Libera- 
tion Organization, which rejected 
iL 

The accord, put together by 
Abdel Halim Khaddam, the Syrian 
vice president in charge of Leba- 
nese affairs, was signed by the Shi- 
ite Moslem Amal faction in Leba- 
non and by the Damascus-based 
Palestine National Salvation 
Front Announced here Monday 
nigh i. the accord acknowledged 


to keep their light 
ire the 


were entitled 
weapons. Those are the only arms 
that can be used effectively in the 
street fighting for comrol of the 
ramp* 

As in the past the Palestinians 
promised to surrender their few 
heavy and medium weapons, but 
only at some vague point in the 
future when all other armed fac- 
tions in Lebanon did likewise. 

The Palestinians also made an 
important point by insisting that 


who fought alongside Amal against 
the Palestinians. 

The agreement thus tacitly con- 
ceded that the Palestinians would 
continue to police their camps and 
the staie-within-a-state sta- 
ll Amal has sworn to end. 


his 


Politically, the Syrians did make 
a potentially important point, at 


least on paper. 
They obtained i 


Botha Criticizes West 
For ' Double Standards 5 


By Alan Cowell 

New York Tunes Service 

JOHANNESBURG — Presi- 
dent Pieter W. Botha launched a 
strong attack Wednesday oa what 
be termed Western “double stan- 
dards” and “opportunistic poli- 
cies" toward his country and said 

that South Africa could solve its 

problems without “international doubt with 
meddling" in its affairs. 

The tone of Mr. Botha’s state- 
ment to Parliament in Cape Town 
seemed to reflect a mood of embat- 
tled defiance nurtured by South 
Africa's growing isolation bom tra- 
ditional Western allies, the United 
Suites in particular. 

W ashing ton has recalled its am- 
bassador, Herman Nickel for con- 
sultations following recent South 
African military forays into neigh- 
boring Botswana and Angola. 

President Ronald Reagan said 
Tuesday at his news conference 
that despite criticism of his policy 
of “constructive engagement" to- 
ward South Africa, the United 
Slates would pursue (he dose rela- 
tionship even after Pretoria’s recent 
military actions. 

Mr. Reagan ruled out a break in 


diplomatic relations, saying, "We 
think we have been successful in 


getting some concessions there and 
some changes in their policy of 
apartheid, which we ail End repug- 
nant, and we’re going to continue 
doing that." 

Mr. Botha said: “The interna- 
tional community should be in no 
d to South Africa’s 
resolve and ability to maintain it- 
self at home, now and in the future 
We can solve oor problems without 
international meddling.” 

In reference to the campaign in 
the United Slates for curbs on. 
American investment in South Af- 
rica, Mr. Botha said: “If there are 
elements in Washington who think 
South Africa is going to be run by 
the UiL then it must be made quite 
dear that these elements are head- 
ing for a confrontation with the 
South African government and 
people." 

In recent months. South Africa 
has been the target of much inter- 
national criticism for its handling 
of deep- rooted unrest in black 
townships, where more than 400 
people nave dial since September. 


the support of the 
Druze Moslem leader, Walid 
Jumblat, and other Lebanese polit- 
ical allies for their contention that 
the Damascus-based Palestinian 
forces and not Mr. Arafat’s main- 
stream PLO should be the legiti- 
mate voice of Palestinians in Leba- 
non. 

Butmosi of the Palestinian fight- 
ers in Beirut are Arafat loyalists, 
according to the diplomats here, 
and even the Damascus-based Pal- 
estinians have been vehement in 
denouncing Syria’s role in the siege 
of the camps. 

■ Woimded Are Evacuated 

Red Cross ambulances evacuat- 
ed wounded persons from the be- 
sieged Palestinian refugee camp of 
Borge Barajni on Wednesday as 
fierce fighting also raged in south- 
ern Lebanon between Syrian- 
backed Moslem and pro- Israeli 
forces, Reuters reported from Bei- 
rut 

Witnesses said that 12 ambu- 
lances had collected wounded from 
inside the camp in the biggest relief 
operation there since the Shiite- Pa- 
lestinian fighting began May 19. 

A Palestinian official, Fadl 
Shouro, who toured Borge Barajni 
on Tuesday and the Ghatila camp 
on Wednesday under (he Syrian- 
brokered cease-fire, said there were 
at least 200 wounded in the camps, 
with thousands trapped in squalor 

in Oiafila 



WORLD BRIEFS 


Swiss Diplomat Wounded in Istanbul 

ISTANBUL (Reuters) — Hans Fref 


al was shot and wounded Wednesday by a man who reportedly 
i a visa to enter Switzerland, officials 


beat 


refused a visa to enter Switzerland, officials said. • ■ 

Swiss officials said that Mr. Freibuighaus. 62, was hit in the chest mid 
underwent emergency surgery at Admiral Bristol American Hospital 
Hospital sources said he was conscious and had talked with Istanbul's 


, Vahit Halefogiu, said the gunman, wbom for 

_ l fled after shooting Mr. Fraburghaus. Mr. Halefojfei - 

said “every effort will be made to capture tire assailant, who is at lan$.“ £ 


t killed seven persons^ 
five more Wednesday in a 


7 Killed in Shooting Spree in France 

RENNES, France (AP) — A mental 
including bis father and uncle, and 
shooting spree. amxa northern Brit may, uic puuvx huu. 

They said they arrested Guy Marta, 41, a former teacher, in Evran 
after he had shot people there and in six other towns. 

Mr. Martel who was armed with a 22-caliber rifle; (fid not resist arrest, 
the police said. There was no immediate explanation of how he left 'a 
hospital near Rennes or acquired the rifle. 


IMPnkMmod 


Robert Dean Stethem, slam by hijackers, is borne from plane at Andrews Air Force Base. 


A^ian^Pakfatmi Talks Resume Today 

GENEVA (Reuters) — Talks between Pakistan and Afghanistan’s 
oviet-backed government, which resume here Thursday, will concern' 


TWA Says Crew Sought to Prevent 
Removal of Possible Jewish Passengers 


Soviet-backed government, 
the possible withdrawal of Soviet troops and the return of three rmBka 
Afghan refugees, a United Nations official said Wednesday. 

Diego Cordovez, UN special representative cm Afghanistan, told 
-ters that this fourth round since 1982 of the so-called prcndnatY 
, in which the UN will shuttle between the separated delegations,! 


focus on of substance and not merely on procedural problems, 

' Afghanistan 


By Elaine Sdolino 

New York Tuner Service 


NEW YORK — Flight atten- 
dants aboard the hijacked Trans 
World Airlines jet in Beirut tried 
but failed to dissuade hijackers 
from separating passengers 
thought lo be Jewish from the oth- 
ers, according to TWA spokesmen 
in New York. 


names that were regarded as Jew- 
ish" were taken off the plane and 
are being held separately from the 
other hostages. “But we would find 


any such act as particularly rcpug- 
rtment said 


Instead, the spokesmen said, the 


attendants were able to persuade 
if ihepas- 


■ Asad in Moscow 

President Hafez a] -Assad of Syr- 
ia flew into Moscow on Wednesday 
and was expected to hold talks with 
the Soviet leader. Mikhail S. Gor- 
bachev, on the situation in the Mid- 


dle East and in Beirut in particular, 
Reuters reported from Moscow. 


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the hijackers that some of 
sengers the hijackers suspected 
were Jewish were either German or 
Swedish. 

There is confusion over tire sta- 
tus of the passengers with Jewish- 
sounding names. Last Friday night, 
during the TWA jet’s second stop 
in Beirut, the Lebanese Shiite Mos- 
lem hijackers forcibly removed a 
group of six to 12 passengers from 
the Boeing 727 and took than 
away, according to TWA 

A State Department spokesman 
said Tuesday that there was “no 
dear evidence that people with 


□ant," the department 

Larry Speakes, the White House 
spokesman, said that Nabih Bern, 
the Shiite leader responsible for ne- 
gotiations for release of the hos- 
tages, hac told the Reagan adminis- 
tration that “halT of the group 
“are under his control." Mr. Bern 
said the other half of the group, 
which he put at six to IQ, are con- 
trolled by “the hijackers and their 
accomplices,” according to Mr. 
Speakes. 

On Sunday night, Uli Derickson, 
the flight's purser, said at a news 
conference in New York that the 
gunmen had ordered her to collect 
torts and 


rector of corporate communica- 
tions, said Monday. “That 
argument did not prevail." 

Mrs. Derickson, a West German 
who dealt with the hijackers be- 
cause they spoke German, was 
asked, “How many were there that 
you picked out with' Jewish-sound- 
ing names?" 

She replied, “Six or seven, I be- 
lieve." 

Later, however, she was asked, 
“Did you pick out the names?” 

“No,” Mrs. Derickson replied. 
“That was done by the terrorists.” 

Attempts to readi Mrs. Derick- 
son by telephone for further com- 
ment were unsuccessful 

Haika Grossman, a member of 
the Tgr^li parliament, (he Knesset, 
and a survivor of the Auschwitz 
foaih camp, said in parliamentary 
debate Monday in Jerusalem: “I 


Foreign Ministers Shah Mohammed Dost of Afghanistan and Sabah- 
zada Yaqub Khan of Pakistan will head their delegations daring the 
five-day session. The talks will coincide with the first US.-Sovict meeting 
on Afghanistan in three years, which opened Tuesday in Washington. - . 


U.S. Officials Are Ruled Open to Softs 

WASHINGTON (AF) — The Supreme Court ruled Wednesday that 
high-ranking U.S. officials are not immune from lawsuits forTDegal 
conduct while in office, but it said that former Attorney General JofcnN^ 
Mitchell was entitled to immunity from suits arising from illegal wiretaps 
conducted in 1970. >. 

The court, in a 4-3 ruling, said Mr. Mitchell's immunity was based on. 
the fact that it was not dear that his “actions in authorizing the wiretap 
violated law that was dearly established at the time of the authorization.* 


But the court said, by another 4-3 majority, that cabinet and other high 
(fid not have absolute immunity from suits arising 


government officials i 

out of allegedly unconstitutional conduct while in office. 

In another case, in which it refused to invalidate most of the State of 
Washington’s obscenity law, the court ruled that such a law cannot ban 
something simply because it incites “lust" It said that the word had - 
acquired “acceptable connotations," including “a healthy, wholesome^ 
human reaction common to millions of well-adjusted persons tri our 
society.” - 


csrscs; l^JSSiZZXSSml Frankfurt Court Acquits 6 Protesters , 

names - hijacking in which a selection was ' FRANKFURT rComhined Dima icheri — A enurt acomtted Wednes-* 


“There was an argument by the 
crew that you cannot always tell 
that if a poson is Jewish by sur- 
name,” David G Venz, TWA’s di- 


made according to the name listed 
in the passport, and everyone is 
calm about iL It sends shivers 
through me." 


House Votes 
40-MX Limit 


? U.S. Is a Nation Being Attacked by Terrorists’ 


(Continued from Page I) 

12 new missiles tins year with the 
House position of zero. Since Con- 
gress has already authorized the 
purchase of 42 missiles in previous 
years, any weapons that exceeded 
the deployment limit would be 
used for spares and test purposes. 

At bis news conference Tuesday 
night. Mr. Reagan repeated his 
support for the MX and said it was 
vital to the modernization of the 
UJS. strategic force. “We need it,” 
he said. 

Mr. Reagan also said it bad be- 
come possible to strengthen the si- 
los containing the missiles to the 
pant at which they could sustain 
“a very direct hit" from a Soviet 
missile. 

However, many lawmakers have 
came to believe that other strategic 
systems, such as the submarine- 
based D-5 missile, offer much more 
protection than the MX. They have 
also decided that a smaller and 
more mobile missile, the Midget- 
man, will become available in the 
next few years and fill the gap left 
by the truncated MX program. 

A third reason for the Tuesday 
vote was a rising fear about budget 
deficits that would force Congress 
lo make difficult choices about 
weapons systems for the foresee- 
able future. 


The Associated Press 

WASHINGTON — Following is 
an excerpted transcript of President 
Ronald Reagan's opening remarks 
at his news conference Tuesday night 
on the hijacking crisis: 

^ The United States is tonight a 
nation being attacked by interna- 
tional terrorists, who wantonly loll 
and who seize our innocent citizens 
as their prisoners. 

In response to this situation. I'm 
directing that the following steps 
betaken: 

I have directed the secretary of 
transportation, in cooperation with 
the secretary of state, to explore 
immediately an expansion of on- 
armed sky marshal program 
aboard international flights of Ui 
air carriers, for better protection of 
passengers. 

I have directed the secretary of 
state to issue an immediate travel 
advisory for U.S. citizens traveling 
through the Athens International 
Airport wanting them of dangers. 
This warning shall r emain in effect 
until the Greek government has im- 
proved the security situation there 
and until it has demonstrated a 
willingness to comply with the se- 
curity provisions of the U-S.-Greek 
Civil Aviation Agreement and the 
Tokyo, Montreal and Hague Con- 
ventions regarding prosecution and 
punishment of air pirates. 

1 have asked for a full explana- 


tion for the events surrounding the 
takeover of the aircraft in Athens. I 
have appealed through the Depart- 
ment of Transportation ana the 
Federal Aviation Admimstralion 
for all U.S. air carriers to review the 
wisdom of continuing any flights 
into Athens until the securityritna- - 
non there improves. . ,... r . 

And further, 1 have asked Secre- 
taries Shultz and Dole to report to 
me on whether we should terminate 
the service of foreign air carriers 
whose governments do not honor 
international conventions or pro- 
vide adequate security at their air- 
ports. 

F m calling on all allied and 
friendly governments to redouble 
their efforts to improve airport se- 
curity and take other measures to 


prevent the hijadting of aircraft. 1 
will also be asking t hem to mite 
steps to prevent travel to places 
where lawlessness is rampant and 
innocent passengers are unprotect- 
ed. and I'm urging that no Ameri- 
can enter any Middle Eastern 
country (hat does not publicly con- 
demn and disassociate itself from 
this atrocity and call for the imme- 
diate safe release of our citizens. 

Let me further make it plain to 
the assassins in Beirut and their 
accomplices, wherever they may 
be, that America will never make 
concessions to terrorists. To do so 
would only invite more terrorism. 
Nor will we ask nor pressure any 
other government to do so. Once 
we head down that path there will 
be no end to it, no end to the 


suffering of innocent people, no 
end to the bloody ransom all civi- 
lized nations must pay. 

This act of terrorism is a stain on 
Lebanon and particularly on those 
Lebanese in whose name it has 
been done. Those in Lebanon who 
commit these acts damage then- 
country and their cause and we 
bold them accountable. 


FRANKFURT (Combined Dispatches) —A coun acquitted Wednes-* 
day six students charged with blockading a U.S. Army depot on the 
ground that the basing of Pershing-2 nuclear missiles in West Germany is 
unconstitutional 

The Pershing-2 was described as a “first strike" weapon, and the court 
found (hat its deployment violated the preamble to the West Goman 
constitution that bars any policy endangering the eventual reunification 
of Germany and also violates the explicit constitutional ban on aggres- 
sion. 

The Bonn government said Wednesday that 54 of a planned total of 
108 Pershing-2s have been stationed in West Germany. It was the fust 
time that a figure has been given on the deployment program. (UPI, 
Reuters) 


Tamil Group Says It Still Is Fighting 


I call upon those holding our 
people to release them without con- 
dition. I call on the leaders of Leba- 
non, political and religious, to meet 
their responsibilities and to do all 
that is necessary to end this crime 
now in the name of the God they 
worship, and I call on other govern- 
ments to speak out and use their 
influence as wdL 


NEW DELHI (AFP) — A major Tamil separatist group said Wednes- 
day it had not stopped fightingdespile an announcement m Colombo, SC. 
Lanka, that a cease-fire had been arranged. 

The statement, by the liberation tigers of Tamil Edam, said the four 
parties of the National Eelam Liberation Front had rejected the. (nice - 
unanimo usly, 

But reports from Colombo suggested that pressure from India had . 
caused tbe guerrillas in the north to tadtly to observe the cease-fire. Tamil 
sources reported that India had begun patrolling the Palk Strait between 
the countries to seal off the island from separatists based in -India. 


For the Record 


Red Cross Refuses to Mediate in Hijacking 




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(Continued from Page 1) 
ment that the Red Cross could bro- 
ker some kind of phased move- 
ment" 

He said that checking the status 
of prisoners was part as the role of 
the Red Cross and the United 
States had not asked it lo intervene 
in the hostage crisis. 

Red Cross policy on mediation 
in hostage cases is to consider over- 
seeing a release only at the request 
of all parties involved. It does not 
take initiatives of its own, and the 
parties directly involved have to 
negotiate the conditions. 

The Red Cross spokesman said 
that Israel had made no request to 
the organization. 

He said that the Geneva-based 
organization also would need the 
consent of the hijackers before act- 


ing as an intermediary in the re- 
ican hosuis 


lease of the American Hostages. 

■ Pilot Wants Against Raid 
Hostages from a hijacked TWA 
jet would face certain death if a 
rescue raid were attempted, the 
plane's pilot said Wednesday in 
brief interviews from the cockpit 
where he was hdd at gunpoint. The 
Associated Press reported from 
Beirut. 


Thailand's Air Force 
To Buy F-16s From U.S. 

Agettce Frtmce-Presse 

BANGKOK — The Thai cabi- 
net has approved the purchase of 
12 F-I6jet fighters from the United 
States for 103 billion baht ($378 
million). Deputy Defense Minister 
Panieng Kantarat said. 

He said Tuesday that the con- 
tract would be signed June 24 and 
delivery would begin in 1988. The 
airforce would pay 12 billion baht 
of the total cost this year, he added, 
with the balance being paid over 
the next four years. 


Captain John L. Testrake and 
two other crewmen on the Boeing 
727 were interviewed by three jour- 
nalists from ABC-TV who stood on 
the runway. The interview was the 
first confirmation that the three- 
man crew was still aboard the plane 
and not with the other hostages 
who were taken into BeiniL 

One of about 12 gunmen aboard 
the jet fired ax or seven rifle shots 
from the left front door shortly 
before the interview to keep other 
journalists away. 

Mr. Testrake, 57, was asked 
whether be thought the United 
States should mount a military res- 
cue attempt. As a gunman bran- 
dished a pistol behind him, the pi- 
lot said: “I think we’d all be dead 
men if they did because were are 
continuously surrounded by many, 
many guards.” 

In an aircraft- to- tower interview 
later, be repeated his assessment of 
a rescue operation: "There are 
many men in this aircraft and it’s 
not any better a plan than it was 
before/’ 

He said be and the other crew- 
men were “in excellent condition." 

“They have been treating us 
quite well,” the pdot said. “We 
have plenty of food and water." 


had fired on a Libyan diplomat's 
car last year. The Washington Post 
reported from Madrid. 

Mohammed Rabal said that he 
and an accomplice, Mustafa Jalil, 
were members of the Shiite Amal 
organization and that they had 
both received orders from their su- 
periors to act against the diplomat. 
Mohammed Idns, on Sept 12. 


A national strike by French railroad workers disrupted more than half 
of the country’s passenger train services on Wednesday, a rafiway 
spokeswoman said. (Reuters) 

Prison sentences imposed on two Swiss plots over a 1977 crash off 
Madeira in which 36 passengers died have been canceled, their defense 
attorney said Wednesday, because the seven-and-a-half-year statute of 
limitations expired Tuesday before a final court ruling on their appeals 
had been made. (Reuters) 

Iran said its troops laun c h ed a three-pronged hit-and-run raid Wednes- 
day across the border with Iraq, killing or wounding more than 25Q Iraqi 
soldiers. Iran has rejected an Iraqi declaration of a 15-day morato rium 
effective last Saturday on air strikes on I ranian cities. (Reuters) 


Gunmen in India shot and lolled Ncta Hakunoddin, a Moslem leader oL* 
Prune Minister Rajiv Gandhi's Coneress (Tl Partv. on Wednesday i>„ 


Meerut. 50 


ister Rajiv Gandhi's Congress (I) Party, 
miles (about 80 kilometers) northeast of 


New Delhi. (AP) 


Reagan Bars Concessions to Terrorists 


( C o nti nu e d from Page 1) The president said that his ad- us and ask for the release of the TOO 


* . - , _ *V» LUW Mi UTC <w 

cent people, no end to the ransom every effort Shiite detainees, or even to give the 

oil i>ra livmA nalinnc rmief imv" ^ Xmd tOCTIL We cannot give Up inlDl BUnnn nf annmaiJiiim ■<. H 


all civilized nations must pay. 

Mr. Reagan said in response to a 
question that “our understanding” 
is that Israel's holding of more than 
700 Suite prisoners, after taking 
them across a national frontier, is 
in violation of the Geneva accords. 
Bui he said that the United States 
would not “interfere” with Israel's 
decision on whetbff to release the 
prisoners. 


In response to another question, 
' itf.S. role 


lU^IVai Not Rest* 
Secretary of State George P. 
Shultz said Wednesday that the 
United States “will not rest” until 
Shiite Moslems release the Ameri- 
can hostages. King Hussein of Jor- 
dan, he said, has joined in con- 
demning the hijacking, United 
Press International reported from 
Washington. 

■ Spanish Trial Opens 
A Shiite Moslem gunman, whose 
release is sought by the hijackers of 
the TWA plane, acknowledged on 
the opening day of his trial in a 
Spanish court Wednesday that be 


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Mr. Reagan said that the 
in the United Nations peacekeep- 
ing force in Beirut and its support 
for Israel had created “rampant 
anti-Americanism among tnose 
who don't want peace with Israel” 

He said that the Israeli govern- 
ment had been moving toward re- 
leasing the Shiites it has in deten- 
tion camps, but raid the hi jacking 
had created a “linkage” that would 
make it appear that both Israel and 
the United States were giving in to 
terrorist demands. 

In response to a question several 
moments later, 
the entire hostage 
crating.' 

“Fve pounded a few walls my- 
self " he said. 

Mr. Reagan, in response to a 
question, said that discussions held 
by Americans involving the hos- 
tages mdtwfrd the status of 
seven Americans who have been 
kidnapped and are bong hdd in 
captivity in Lebanon. 


on them,” Mr. Reagan “j 
hope that they have confidence in 
that.” 

When asked about bis pledge to 
pursue a policy of swift and effec- 
tive retribution in terrorist actions 
against the United States, Mr. Rea- 
gan responded that the earlier in- 
stances had involved a government 
as “the source for the evil” In the 
TWA case, he said, there was a 
problem of identifying the perpe- 
trators and their acco mplic es 

“We have used our utmost ca- 
pacity” to try to End the people, 
Mr. Reagan said. 


impression of approaching us.' 
“We were going to release these 


men anyway," said the Foreign 
Ministry official, “but we cannot 


be expected to release them at gun- 
point” 


Soviet Cancels^ 
Sea Meeting 




Mr. Reagan said that bis central 
priority was the safe return of aQ 
the hostages and that retaliation 
was extremely risky. “You can’t 


(Continued from Plage 1) 
seek a mutually convenient date in 
the future when the talks «»« be 
held under appropriate circum- 
stances.” 

Despite the chance that the 
meetings will resume, other offi- 


just start shooting without having ^ wcre concerned that 

WXTHVmn rn vnnr mannnf,,.'’ k. the Uj. 


someone m your gunqg jhn* he 
said, adding that the hijackers 
“have no hesitation about murder" 


move would be by 
Moscow as b reaking precedent. 
That opens the way for Moscow to 


Beni *e 


SSStttSZ'Sg J-JS 


meat. Asked whether Mr. Beni was 
more the problem than the solu- 
ti on, M r. Reagan responded by 
mapping bis finger and saying, 
“He could be the solution that 
quickly. 


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■ Israeli Reaction 
An Israel government official 
welcomed President Ronald Rea- 
gan’s approach to dealing with the 


ton signed an Agreement on 

Prevention of Incidents On add* 1 
Ov« the High Seas. The purpose - 
was to reduce the number of dan- 
gerous confrontations that 
fterosaed from the regular contact 
between the two navies by 
up rules of the seas ana regular 
meetings to work out details. 

Navy Secretary John F. Lehman 

S* 5 * a ] d tfa at the agreement 

Beirut hijackers. The New York 7”?™ wy successfully” in re- 
Times reported from Jerusalem on duc ^ n S serious incidents to one or 
Wednesday. two a year, “way down from what it 

“We think Reagan’s whole arv 30(1 1970s -" 

proacb of not yielding to terror ai5 ihi ^ len3ent hc !«™ed 

not asking others to£ddk S fiKT* ?° d eXam P ie * 

red.” said a senior FiS MmL process” thak . 

uy official, who declinS robe stabilize the 

identified. “The SEL haw He said inws one 

been very careful not to approach ^■ of ? bvwl " U - S - n^uems “that’s 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


Page 3 


« s ii.h 


*‘*nir s 


Efforts to Recruit U.S. Soldiers as Spies Rise Sharply, Army Says 


A spokesman .for the navy said that everyone in that 
service who has clearance to see secret material is 
briefed periodically an watching for approaches by 
midfigenoe agents. The spokesman said that possible 
attempts to recruit sailors had been spotted but the 
navy (fid not release such statistics 

In interviews, army’ officers said there woe 481 . ‘ j fo~ J A* s “ d ^ ^ 

incidents last year m which sokBos reported bong s^hadn^pr^mndnchla ^'ym lws 
annmnr'hpdt ku .*««**« tW*, of officers and enlisted personnel were bnrfed. No 


By Richard Halloran 

Afcw York Tima Service ’ 

WASHINGTON —The U.S. Army says there has 
been an increase in reports of attemptsby Soviet and 
other East European intelligence services to recruit 
American soldiers as spies. 


vented soldiers with access to secret mfonnation from 
firing the initiative and gelling that data to a foreign 
government- That pattern has appeared in many re- 
cent espionage cases. 

“How do yon know there's no Walker in the army 
out therer one officer asked. “Yon don’t know” 

■ Walker Case Described 


j»r t ’ 


approached by persons they suspected of being Soviet 
or East European intelligence officers, or by sympa- 
(* in t' V duzers in nations such as West Germany. That was a 
u * rjv , 400-percenl increase over 1978, the officers said. 
l".r; “ Of those,.they said, 94 cases were referred to anny 
countaintdligencc for possible action. That would 
include having the U.S. soldier Betas a double agent to 
obtain information from those who fad recruited him- . 

These contacts were disclosed after the army began 
a review of its security procedures following the arrest 


personnel 

details on-recent experience were available. 

The army offices said many attempts to recruit 
US. soldiers as spies in Europe were rate by Ger- 


“My husband was blackmailing me,” Mrs. Snyder 
said. *He told me that if I tried to act the baby be 
would turn my father in or tell what be knew and be 
would destroy the family.'’ 

In portions of the interview made available Mon- 
day, Mrs. Snyder. 25. said her father had tried to 
recruit her asa spy six years ago when she was an anny 
m m muni ra tions specialist at Fort Folk, Louisiana. 


Susan F. Raskv of The New York Times reportea communications meciaUst at Fort Folk, Louisiana. 
from Washington: Mis. Snydo's brother, Mkhari Walker, is one rf those 

As the f; 


y drama in the Walker spy case contin- 
ued to imir pirf, the Hatightw of John A. Walker Jr. 
described Tuesday how she and her mother derided to 


'-■a 




mam who might be Soviet agents or who were syapa- tum him in to the Federal Bureau of Investigation, 
thebe to the Soviet Union. Laura Walker Snyder, in a television inlemew, said 




Uvi *|; 


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In Europe , the officers said, soldiers whose families 
came from Eastern Europe have been targets for 
approach by East European in teffigmee services. US. 
diets arc permitted to travel to Eastern Europe on 


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of four present or former US. Navy mmaccosedby »“«■ * wtuch time they may visit relatives. 


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federal officials of partiripating in an espionage nng 
that the government says was beaded by John A 
Walker Jr! 

The officers said that die anny opened 124 investi- 
gations of suspected approaches in the three months 
ended Dec. 31, the most recent period for which 
statistics were available. The majority were in the 
United States; 37 were in Europe and IS in die Pacific, 
t The army counterintelligence progra m . Subversion 
and Espionage Directed Against the Army, is mainly 
an educational effort m which soldiers are instructed 
on detecting signs of an intelligence approach and are 
cautioned to report those to their superiors. 


In such instances, the officers intanigenre 
agents of the East European natio n would suggest to 
the soldiers that life could be better for their roatives 
if they cooperated with the h iri ti geooc agents, or 
worse if they did not. 

There are 225.000 U.S. soldiers stationed in Europe, 
most in West Germany. 

The officers said that the increase in reported inci- 
dents under the anny program could be attributed to a 
combination of more approaches to U.S. soldiers by 
foreign i ntelligen c e services and a greater alertness by 
thesoldkxs. 

The officers were less confident that they h*d pro- 


thai her mother suspected for more than a decade that 
Mr. Walker was a Soviet agent Mrs. Snyder, who said 
her husband took their son when the couple separated 
three years ago, said she persuaded her mother to 
“tum my father in so that I can light for ray son.” 

She had wwfiHwt in her husband, Phillip, when her 
father tried to recruit her for espionage. Mis. Snyder 
said. After the couple separated, her husband threat- 
ened to ten what be knew if she tried to take their son. 
On Saturday, she went to her husband's home in 
Laurel, Maryland, and took the 5-year-old boy from 
the yard where he was playing 
Mrs. Snyder’s comments, in which she discussed her 
religious conversion, came in an interview broadcast 
Tuesday morning on the Christian Broadcasting Net- 
work’s “700 Club." It was the fust indication that 

thrum outside the imninHiain f amil y had SUSpCCled Ml. 

Walker of espionage. 


accused’ of participating in a navy spy ring that die 
authorities say was ran by John Walker. 

Mrs. Snyder said she was shocked by her father’s 
offer to pay her for stealing secret documents and that 
she had told her husband about it “He turned it on 
me,” she said. 

According to Guy C. Evans, associate counsel of the 
Christian Broadcasting Network. Mrs. Snyder had 
urged her mother for nearly three years to tdl the 
authorities about John Walker's spying, but Mrs. 
Walker refused. 

John and Barbara Walker were divorced in 1976. 
According to Mrs. Snyder, ho- mother suspected John 
Walker’s spying activities as far bade as 1969. 

According to Mr. Evans, Barbara Walker contacted 
Mrs. Snyder earlier this year and said she was ready to 
go to the FBI to mm in John Walker “because she 
knew that otherwise she might never see her grand- 
child again.” In portions of the interview made avail- 
able Monday, Mrs. Snyder said neither she nor her 
mother were aware then point that Michael Walker 
would be implicated in the spy ring. 


U.S. Study Finds 
Cigarette Sales 
Falling Since ’81 

The Associated Press 

WASHINGTON — Cigarette 
sales have fallen this decade tor die 
first time since 1969. despite record 
advertising spending by tobacco 
companies, the Federal Trade 
Commission said Tuesday in a re- 
port to Congress. 

Sales dropped from 636 billion 
cigarettes in 1981 to 632 billion in 
1 982. the agency said. In 1983, sales 
dropped again, to 584.4 billion. 

Spending on advertising climbed 
to nearly $2.7 billion in 1983. 

“During 1982-83, cigarette man- 
ufacturers continued to concen- 
trate on associating smoking with 
success and a luxurious lifestyle.'* 
the commission observed. 



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EMBASSY OCCUPIED — About 50 persons, mostly West Gormans, took over the 
West Germany Embassy in Nicaragua after scaling die walls Tuesday. They demanded 
that Ambassador Horst Heobaum seek the release of a West German ecotogpst, Regina 
Scfaonamenanmn, who was kidnapped Friday during a guerrilla attack at Puerto 
Cabezas, 210 miles east of Managua, and condemned U.S. siqjport of the guerrillas. 


U.S. Urged to Insist on U.S. Patients 
Over Foreigners in Organ Transplants 


By Margaret Engel 

Washington Post Service 

WASHINGTON — The U.S. 
government should require doctors 
and hospitals to give Americans 
preferential treatment over foreign- 
ers in receiving transplants of 
scarce organs, witnesses nave told a 
congressional t*«lr force. 

The testimony Tuesday was giv- 
en at one several meetings around 


dgn patients more for the opera- 
tions than U.S. citizens, she said, 
urging an end to both practices. 

Dr. Terry Strom, an immunolo- 
gist at Beth Israel Hospital in Bos- 
ton, raised another objection. “The 
foreign national* who come to get 
kidneys do not represent a slice of 
life in their countries,” be said. He 
folHirated that the majority of for- 


l£ Still I 


Guatemala’s Guerrillas Stay Active 
Despite Growing Army Pressure 




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By William R. Long ? 

Los Angela Tima Service ■ 

NEBAJ, Guatemala — During a 
thunderstorm one recent evening, 
Msg or Francisco Marin’s troops 
scoured the steep, wooded moun- 
tains north of here for guerrillas of 
the Ho Chi Minb Brant wink the 
major shouted encouragement to 
than over a field radio. 

The next morning, the patrol re- 
ported that the guerrillas had melt- 
ed into the darkness and rain with- 
out firing a shot — but four soldiers 
bad been injured by lightning. 

Major Marin shrugged off the 
frustration. He is usedto it. 

The guerrillas rarely confront the 
aggressive Guatemalan govern- 
ment forces in open battle. Instead, 
they surprise snail army patrols 
with hit-and-run attacks, ambush 
army road-budding details, sabo- 
tage pipelines and me on mountain 
villages from a distance. 

^ “It is a game of cat and moose; 
we take the initiative, and they take 
off” Maw Marin said. 

In otter parts of Guatemala 
where Marxist-led guerrillas are ac- 
tive, the story is much the same. 
Increasingly, since 1982, the anny 
has dominated the war , but the 
guerrillas have shown a a tenacious 
. ability to stay active and elusive. 

.*• . Although the guerrilla war in 
V; Guatemala receives less interna- 

'1; tional a ttention , than (hose in El 

Salvador and Nicaragua, it is prov- 
ing to be no less enduring. - 
' ' With virtually no UJS. aid, the 

tough and sometimes ruthless Gua- 
temalan Army has reduced the 
guerrilla movement’s estimated 
, .. strength from as many as 6,000 
• / (10 ^ihiCTsaritspeakin 1981 to about 

inn l" . lJoouow. 

i But as the 30,000-man army has 
\ pushed the guerrillas deeper into 

i isolated areas, it has been ham- 
pered increasingly by logistical 
. problems. Officers complam of a 

deaerate lack of vehidcs, espcdal- 
. ly helicopters, for moving troops 
. *' and supplies. 

“If we had cme-foorth or one- 
fifth of the helicopters that the 
^ United States has given El Salva- 
dor or Honduras,” Mqjor Marin 
‘ said, “we would already have fin- 
• : ished off the problem.” 


to TtTrori't 


• Early this year, the guerrillas an- 
nounced what they called a “new 
phase” of inteosified action. They 
stepped up their raids and am- 
bushes, and for brief periods they 
occupied several towns and planta- 
tions. • 

Thirteen soldiers woe killed in 
an ambush in Hnehuetenango 
province on Jan. 29. In all, the 

S lists 38 men lost in guerrilla 
s during the first four months 
of the year. 

In 1984, there were 227 military 
deaths and 201 gnetrilla deaths, ac- 
cording to a US. Embassy compi- 
lation, down from a combined total 
of 1,168 mifilary and guerrilla 
deaths hr 1983. 

The heaviest fighting between 
government troops and guerrillas 
was in 1982. In that year, the coun- 
try’s four separate guerrilla armies 
joined in an allimce called Guate- 
malan National Revolutionary 
Unity. 

The army says the affiance was 
formed at the insistence of the rev- 
olutionary governments of Ctiba 
and Nicaragua as a condition of aid 
for the Guatemalan rebels. 

The strongest of the four groups 
has bear the Guerrilla Army of the 
Poor, known by its Spanish initials 
EOF. It is divided into fronts 
named for international revolu- 
tionary heroes; the Commander 
Ernesto Guevara Front, based in 
Hnehuetenango province, and the 
Ho Chi Mmh Front and 
C&sar Sandino Front, bo! 
Qoiche province. 

The Revolutionary Armed 
Foxes is strongest in the western 
of Fettn, Guatemala’s huge 
province. Its actions 
mix year meve TnrJnfIrd holding up 
tourist buses , on a jungle road to 
Guatemala’s famous Mayan ruins 
aiTDcaL 

The Rewdutionary Organization 
of Armed People u most active 
sooth and west of Lake AtitlAn and 
from the lake through San Marcos 
province. In its most spectacular 
action this year, the group burned 
tte dty hall at Santiago Atitlio, an 
Indian c ommuni ty on the southern 
share of Lake AtitUn that is fre- 
quented by foreign tourists. 

This activity has demonstrated 


the guerrillas’ presence in 
widespread rural areas, but it has > 
failed to take the initiative away 
from the army, according to Guate- 
malan and foreign analysts. 

Moot Marin and other com- 
manders interviewed in four west- 
ern provinces expressed confidence 
dial the trend of declining gnerriDa 
strength will continue. But some 

S officers acknowledge that no 
victory over the guerrillas is in 

right 

“The problem we have is Mexi- 
co,” Major Marin said, “because 
through the Mexican border, they 
receive arms and ammmrition.” 


, . . . , eign transplant patients are among 

the country bong held by tte na- Sditoo?tbdr countries, and said, 
tional Task Force on Organ Trans- 
plantation, which is to advise Con- 
gress by January 1986 on how 
organ donation, procurement and 
distribution should be bandied in 
the United States. 

In some cities where press re- 
ports have cited a dis pro p or tionate 
number of foreigners receiving 
transplants, hospital; and trans- 
plant groups have barred or re- 
stricted uausplants for foreigners. 

But Dr. Robert Gordon, a trans- 
plant surgeon at Presbytenan-Um- 
veraty of Pittsburgh Hospital, said, 

‘This “bottom of the barrel' policy 
really puls foreign nationals at ex- 
treme financial and social” risk. 

Tf we bring patients over here,” 
be said, “they wQl wait a long time 
under false pretenses. It makes hos- 
tages out of them.” 

He added that news reports on 
abuses in his city have been “exag- 
gerated,” and advised the panel to 
establish a quota of 10 percent of 
US. transplants for foreign nation- 
als yearly. 

Dr. Olga Jonasson, director of 
the task force and chief of surgery 
at Cot* County Hospital in Chica- 
go. acknowledged that “there have 
been abuses.” 

Some American doctors and 
medical centers have solicited some 
foreign patients to come to the 
United States for transplants. Dr. 

Jonasson said. Some surgeons and 
transplant centers also have made 
large profits by charging some for- 


“The foreign national issue would 
be more palatable if we weren’t 
getting a certain strata.” 

But another of the 25-member 
pand. Dr. Paul RusseQ, chief of the 
transplant »»tit of Massachusetts 
General Hospital, said that despite 
what the task force recommends, 
“We are quite powerless to prevent 
people from dome transplants.” he 
said, adding: ‘There’s no way to 
police it” 

According to other testimony be- 
fore the panel, some hospitals dis- 
tribute organs to relatives of staff 
members, or to wealthy individuals 
who donate money to the hospital, 
without regard to medical need. 

To ensure equal access to organs, 
others appearing before the panel 
suggested a lottery for organs. The 
task force aim questioned whether 


a patient's age and medical condi- 
tion, and whether they had received 
earlier transplants, should be con- 
sidered. 

Theparents of Kimberly Fuller. 
9, of Elk City, Oklahoma, who has 
been waiting a year for a heart and 
lung transplant, pleaded with the 
task force to encourage organ do- 
nations and to force better cooper- 
ation among hospitals and organ 
networks. 

The 407 heart transplants per- 
formed in the United States last 
year represented a 400 percent in- 
crease over the number just two 
years earlier, showing the explosive 
growth in such operations. 

But a fact steel supplied by the 
task force quoted a recent study as 
saying there are as many as 15,000 
people who could benefit from 
heart transplants- Speakers at the 
tearing suggested the rate of dona- 
tions, approved by healthy Ameri- 
cans wbo later die in some non- 
heart-rclaled accident or other 
incident, is showing no signs erf any 
big increase: 

Lack of donors “is a big prob- 
lem,” said Dr. Jack Copeland, chief 
of the cardiotboraric surgery sec- 
tion at the University of Arizona 
Medical Center in Tucson. 


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EC Will Retaliate if U,S, 
Restricts Pasta Imports 


U.S., in Shift, Endorses Loan to Chile 

Wa sht npm Pan Service 
WASHINGTON —The United 
States has reversed course in its 

Sfa*i55 milli on devefopomt loan 
from the World. Bank. It had ab- 


Tbe Asso cia ted Press 

LUXEMBOURG — The Euro- 
pean Community said Wednesday 
t hat it would retaliate if the United 
States carted out a pledge to re- 
strict pasta imports from the 10- 
oatian trading olac. 

The declaration by EC foreign 
ministers underscored a heighten- 
ing of tensions between Western 
Europe and the United States on a 
broad range of trade issues. 

A separate statement criticized 
Japan lex not moving fast enough 
in opening its markets to imports 
from Western Europe. It said Ja- 
pan remained “out of step” in the 
volume of its imports of manuf&o- 
turedgoods. 

Giuho AndreottL the Italian for- 
eign minister, said the EC would 
undertake a foB renew of its rela- 
tions with Japan with an eye to- 
ward making a poBcy decision m 
the autumn. He noted that Japa- 
nese-EC trade relations would be 
the major topic of discussion when 
the Japanese prime minister, Yasu- 
hiro Nakasone, visited the commu- 
nity’s headquarters in Brussels on 
July 19. 

WjQy De Qercq, the EC com- 
missioner m chaite of foreign trade 
relations, accused the administra- 
tion, of President Ronald Reagan of 
being hypocritical in threat en ing to 

curb pasta imports. 

Mr. Reagan is expected to decide 
Thursday whether to impose the 


curbs in response to the ECs refus- 
al to revise preferential agreements 
with 11 Mediterranean countries 
cm imports of citrus fruit 

“You cannot on the one side, 
say yoo are for liberalization of 
trade and, on the other side; take 
unilateral actions which undermine 
the system you claim to be defend- 
ing.” Mr. De Qercq said. 

Ihe minis ters* statement called 
the threatened U.S. action “parties 
ukriy iD- timed,” in view of Ameri- 
can efforts to persuade the Europe- 
ans that a new round of global 
trade liberalization tatts should be 
started early next year. 

The Reagan administration has 
complainea that EC citrus trade 
arranggneaits with Mediterranean 
countries violate international 
trade rules because they do not 
provide equal treatment tor Ameri- 
can citrus exporters. 

The EC contends that the ar- 
rangements are legal because they 
are part of its development policy 
for the area. Ihe Americans say the 
arrangements have cost U.S. citrus 
exporters S48 million a year in lost 
business. 

Ihe EC declaration urged the 
Reagan administration to reconsid- 
er any unflatcral measures it mig ht 
die contemplating. 

Nearly half of U.S. pasia imports 
cons from Italy, according to EC 
figures. 


Breaking new ground 


Last summer, Uwe Hohn of GDR broke 
new ground in the javelin with a world record 
of 104.80 metres. That throw went unmatched 
— and virtually unchallenged — in a 
summer when East and West rarely met in 
athletics. 

This summer, the best throwers, runners, 
jumpers, and vaulters will have 76 chances to 
meet in the IAAF Mobil Grand Prix. Sponsored 
by Mobil and organized by the International 
Amateur Athletic Federation, this first-ever in- 
ternational season got underway in San Jose, 
California, on 25 May, and culminates with the 


Grand Prix finals in Rome on 7 September. Up- 
coming are the DN-Galan in Stockholm on 2 
July and the World Games in Helsinki on 4 July. 

Grand Prix points are awarded to athletes on 
the basis of their performances and times. 
World records gain extra points. At the conclu- 
sion of the overall Grand Prix, titles will be 
awarded to the outstanding male and female 
athletes and to the outstanding performers in 
each event 

With this competition, Mobil is pleased to be 
breaking new ground in athletics. That’s the 
point of it all. 


to consulta- 
tion as a. reasonable response to the 
Chilean government just making 
this announcement," said Repre- 
sentative Stanley L. Lnndine, 
Democrat of New York. He is 
stained since February cm otter chairman of the Banking finance 
loan requests as a way of protesting snd Urban Affairs subcommittee 


human rights violations.- 
State Department officials said 
that the change of position was in 
response to President Augusto Pin- 
ochet’s ending of the state of siege 
in Chile. 

. . But in Congress, a key represen- 
tjgiivc protested that the change by 
1 Washington was premature and 
bad been made without sending the 
required notification to Congress. 

U 1 can’t accept this immediate 
change in our position and violat- 


or international dewsfo pmeat «nm- 
tntioffl and finance. " 

[On Tuesday, Chile 's military 
government banned political meet- 
ings in Santiago, Reuters repotted. 
The ban was announced by die 
military commander for Santiago 
under the state of emergency. 

[Government p ermission will be 
required for all other rawing* ex- 
cept for private, or family "gather- 
ings or shows in places normally 
used for entertainment.] ' 


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Page 4 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 





Walesa Says He Was Warned to Be Quiet 


Reutcn 

WARSAW — Lech Walesa, 
leader of Poland’s banned Solidari- 
ty trade union, said he was told by 
prosecutors Wednesday to stop 
public attacks on government poli- 
cies. 

He told Western reporters that 
officials bad informed him that if 
he continued to issue critical state- 
ments, he might find himself in "a 


different position" and that “dif- 
ferent measures" might be taken 
against him 

Mr. Walesa said he was sum- 
moned to the provincial prosecu- 
tor’s office in Gdansk and told that 
be still was under investigation on 
the charges under which three se- 
nior Solidarity activists were salt 


to prison last week. 


said he did not speak during 


Zhao Concludes European Visit 


Ream 

AMSTERDAM — Prime Minis- 
ter Zhao Zjyang of China visited 
the Rijksmuseum and took a boat 
tour here Tuesday before his return 
to Beijing after a trip that also took 
him to Britain and West Germany. 


During his four-day stayjn the 



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Netherlands, Mr. Zhao talked with 
Prime Minister Ruud Lubbers on 
bilateral and international affairs 
and signed an investment protec- 
tion agreement. 

Mr. Than said there were pros- 
pects of large orders for Dutch con- 
struction and agricultural compa- 
nies in China and that his visit had 
strengthened ties that have been 
strained since 1980, when The 
Hague agreed to sell two subma- 
rines to Taiwan. 


the brief meeting at the prosecu- 
tor’s office. Mr. Walesa handed 
over a ton that said, “The trial of 
Wladyslaw Frasynink, Bogdan Lis 
and Adam Mkhuik has reinforced 
my conviction that there is only one 
form of dignified behavior before 
the courts, prosecutor or police — 
that is the refusal of any testimony 
or any conversation. Therefore, I 
refuse to testify." 

Mr. Walesa said that officials 
mentioned a statement be made on 
June 11 during the trial of the three 
activists, who were sentenced to 
two and a half to three and a half 
yean in prison for planning a 15- 
mimite strike to protest increases in 
food prices. 

That statement described the 
prosecution as “terroristic" and 
said that the chcumstances erf the 
trial “oblige me to declare that 
peaceful methods of struggle for 
reform of the state and for union 
freedoms are now threatened." 

Mr. Walesa was interned for 11 


months after Solidarity was sup- 
pressed under mardal law in De- 


cember 1981 bat he has not been 
detained since. 

■ Midntik Issues Statement 

Michael T. Kaufman of The New 
York Times reported from Warsaw: 

Mr. Michmk has said that his 
trial showed that “fascism has 
knocked on the doors of Polish 
homes.” He made the statement in 
an eight-page letter smuggled from 
his prison cdL 

Mr. Mfchnik, 38, said the court’s 
muzzling of the defendants and the 

exclusion of observers signaled the 
trampling of judicial tradmotis. He 
charged that the presiding judge, 
Krzysztof ZSeniuk, had rnmufl infxl 
dose contact for years with the 
Polish security apparatus. 

The rights Of the defendant^ at 
their trial were squelched more 
crudely than in the past. Mr. Mich- 
nik wrote. He said this was shown 
by the open use of surreptitiously 
taped materials that were con- 
cealed in the past, by the use of 
only police officers as witnesses 
and by the barring of foreign re- 
porters. 



NEW VOICE — Fried- 
behn Ost, a television 
editor, has succeeded 
Peter Boemscfa as chief 
spokesman for die West 
German government. 


Mengele’s Son Tells Magazine A 
About Nazi’s life on the Run 


a house and posing with 


By James M. Markham building a b 

Ne*' York Times Serrice Rolf Mengde.] 

MUNICH— Josef Mengde, the SAflnfeld, a sprite*- 

Nazi war aiminal, saw his cn T 1 , 018111 Stem, declined to say how 
Rolf, for the first time during a ski die magazine had obtamodthe ma- 
vacatioa in Switzerland in 1956, 


• Hans -Ulrich Udd. a much 
decorated German pilot in World 
War IL who after the war became;*, 
vehement Hitler apologist and neo- 


AgcaNow Says a 3d Turk Was Present at Shooting 


The Associated Pros 
ROME — Mehmet Ali Agca tes- 
tified Wednesday that a third Turk- 
ish conspirator was in Sl Peter’s 
Square the day he shot Pope John 
Paul 11. 


In previous testimony, Mr. 
had resisted that the wily 


accomplice in the square on May 
* 1 Celik, a Turk 


13, 1981, was Oral 
who has been charged as a plotter. 

Mr. Agca also testified that he 
bad met in prison with an Italian 
secret service agent who persuaded 
him to turn state's evidence. But he 
denied that he had been coached to 
implicate Bulgaria in the plot 

In all, three Bulgarians and four 
Treks have been charged along 
with him with complicity in the 


shooting. Four of the defendants 
are being tried in absentia. 

Under intense interrogation by 
Judge Severmo Santiapichi, Mr. 
Agca changed bis earlier testimony. 
He said the third ™n in the square 
with him and Mr. Cdik had been 
known as “AJtif” and that he had 
been supposed to set off hand gre- 
nades to cause panic and cover the 
three men’s escape. 

Earlier, Mr. Agca said Mr. Celik 
had been carrying the grenades in a 
bag. But he said Wednesday that be 
had been lying. 

Pressed to identify “Akif" fur- 
ther, Mr. Agca said nis real name 
was Omer Ay. 

But when the judge showed Mr. 
Agca a police photograph of Mr. 
Ay, Mr. Agca said be was not the 


third man. The picture was avail- 
able in court because Mr. Ay had 
previously been investigated; no 
charges were lodged against him. 

Mr. Ay was extradited from 
West Germany to Turkey and was 
sentenced to me by a martial law 
court in the southeastern province 
of Malatya for killing a leftist poli- 
tician. Malatya is wfeere Mr. 
was bom. 

The judge also showed Mr. Agca 
a photograph taken by a tourist. 
Agca pointed to a face in the 


ing to the spot where Mr. Agca said 
he and Mr. Cchk had beat standing 
before the shooting. All the others 
in the photograph were looking to- 
ward the pope. 

In explaining in later testimony 
why he nad decided to turn state’s 
evidence, Mr. Agca said he was 
visited in prison by Francesco Pa* 
rifflza, once an aide to the former 
head erf Italy’s military intelligence. 

Mr. Pazienza escaped from an 
Italian prison but was captured last 
March in New York City. Italy is 


when the boy was 12 years rid, 
according to reformation supplied 
by the son to a Munich magazine. 

Three years later, the boy 
teamed that the hard-skiing “un- 
de" who had been introduced to 
him as H elmu t Gregor was his fa- 
ther, according to Bunte. 

In its issue appearing Thursday, 
the magazine- reports that Josef 
Mengde, who was a medical officer 
in the Nazi SS on the Russian front 
and later at the Auschwitz death 
camp in Poland, was in hiding for 
fore years after the war, working as 
a groom on a farm in Bavaria. 

In 1949, the magazine says, he 
was detained briefly by the I talian 
police as be was making his way to 
South America. 

Far the last week, according to 
Bunts' s editors. Rdf Mengde has 
bed talKng of bis r elationship with 
his father, who he says drowned in 
Brazil in 1979. 

Mr. Mengde. 41, a lawyer in 
West Germany, was repeated to 
have turned over to Bunte more 
than 30 pounds (about 14 kilo- 
grams) of notebooks, letters and 
photographs on his father’s life. 

In another aspect of the Mengde 
case, the Hamburg weekly maga- 
zine Stem said it had acquired 
more than 100 photographs of Dr. 
Mengde, letters, notebooks and 
philosophical musmgs and also 
of his voice. 


terials. But sources in Brazil and 
West Germany said that it pur- 
chased them from Wolfram and 
Lisdotte Bosscrt, an Austrian cou- 
ple who say they gave shelter to Dr. 
Mengde before, as they insist, he 
drowned. 

Bunte says that Rolf Mengde 
supplied his Tes timo ny and the doc- 
uments without charge, stipulating 
that any profits the magazine made 
be given to Auschwitz survivors. 

The reputation and credibility of 
Stem were severely damaged in 


Nazi chief, apparently intervened 
with General Alfredo 


ertwd andidentified him simply as 
The man in the picture was look- 


ApxO 1983 when it published what 
it tri umphan tly ann ounced as long- 
lost diaries of Hitter. They were 
quickly proven to be forgeries. 

At Auschwitz in 1943 and 1944, 
Dr: Mengde stood on the ramp as 
trainloads of Jews arrived and 
waved those unsuited for labor to 
gas chambers and others to bar- 
racks for workers at plants. He car- 
ried out bizarre ana gruesome ex- 
periments on prisoners. 

Bunte makes these points about 
Dr. Mengele: 

• While he was in 'hiding after 
the war he worked in Ros e n h e im 
for a fanner "who only wondered 
at how often the groom washed his 
bands." 

• He was arrested in Genoa in 
1949 but the police, after holding 
him for three weeks, released him 
“with friendly apologies.” 

Rolf Mengde insists that, con- 


Stroessner, ’ ■ 
president of Paraguay. U> obtaat ~v : 
citizenship for Dr. Mengde. 

• The Mengde family always’.;. 
knew where the fugitive was and 
his father, Karl, visited him in Ar- . 
gentina. The father died in 1959. 
Hans Sttflmdcr. a manager of the . 
Bavaria-based Mengde farm ma- 
chinery business; made “countless” ’ 
visits to Dr. Mengde in Smith 
America. 

• Dr. Mengele lived on about 
$100 to S150 a month while in 
South America. The family seat 
him money, but Rolf Mengde says 
he never (fid. 

Illustrated by numerous photo- . 1 
graphs of Dr. Mengde in Soutig^ _ 
America, the Bunte article s ke tc hes 
what it hints will be deeper treat- 
ment in a five-part series — and it 
carefully ban g s its assertions about 
Dr. Mengde' s life on his son. 

It portrays Rdf Mengde as hav- 
ing had a strained relationship with 
bis father, whom be is said to have 
met cmly twice — first during ' the 
ski vacation in Switzerland in 1956 
and then in 1977 during a 14-day 
visit to S5o Paula Mr. Mengde 
reportedly told the magazine be 
flew to Brazil on a regular Vang , 


“The man who stood before ) 
in 1977 was a terrified creature;" 
Mr. Mengde told Bunte, adding 



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Japanese Says 
U.S. Criticism 
Was 'Reckless’ 


Agate e Frame-Prase 

TOKYO — 


ign Minister 
Shin taro Abe said Wednesday that 
a recent critical U.S. Senate resolu- 
tion d emanding a faster Japanese 
military buSdup was “reckless.’ 


Replying to questions from an 
aposition member in 


opposition member in the lower 
bouse of parliament during a for- 
eign affairs committee meeting, 
Mr. Abe said that the U.S. Con- 
gress faded to understand Japan. 

On June 1 1, the US. Senate ac- 
cused Japan of not providing suffi- 
cient resources to meet its baric 
mOitaiy needs. The resolution coin- 
cided with a visit to Washington by 
Defense Minister Koichi Kato. 

Mr. Kato told another commit- 
tee that Japan would develop 14 
militar y capability on its own .im? 
dative, not under U.S. pressure/ ‘ 
He said that Japan was drafting 
a five-year plan to achieve arma- 
ment levels set in 1976, which set 
ceilings for a ground force of 
1 80,000, a naval force of 16 subma- 
rines, 60 surface ships and 200 
combat aircraft, and an air force of 
430 aircraft. 


charges of corrupting the secret ser- 
vices, espionage, revealing stale se- 
crets and criminal association with 
mobsters. 

Mr. Agca said Mr. Pazienza had 
persuaded him to talk to the au- 
thorities with a promise of freedom 
and a French passport 

“But no one mggpsinri anything 
to me,” he said. 

A gangster who turned state's 
evidence is another trial, Giovanni 
Pandico, asserted that Mr. Agca 
had been coached by I talian secret 
service agents and mob . bosses to 
implicate Bulgaria and the Sennet 
Union in the mooting. 

Mr. Agca is expected to continue 
testifying Thursday. 


Ll photographs 

Wednesday of a graying man with a underground organization of for- 
mustache m various relaxed ritna- mer Nazis nor did U.S. intelligence 
tions in South America, playing services aid him in forging a new 
with children, paddling a boat, life in South America. 


trary to rumors, his father received that his father was prone to deprefr- 
no help from some Odessa- style sive, fearful and suicidal moods. 


Red Brigades Suspect 
Is Arrested Near Rome 


The Associated Pros 

ROME — Barbara Balzerani, 
known as Italy’s most wanted per- 
son for her alleged roles in the mur- 
der of framer Prime Minister Aldo 
More and the kidnapping of a UJ5. 
general, was arrested Wednesday 
near here. 


Marshal Moskalenko 
Is Dead in Russia at 83 


New York Tima Serrice 

MOSCOW — The Soviet 
Union's longest-serving ma rsh al, 
Kirill S. Moskalenko. 83, who 
helped develop the nation’s strate- 
gic missile forces, has died after a 
serious illness, Soviet television re- 
ported. 

In an obituary signed by Mikhail 
S. Gorbachev, the Soviet leader, 
and other political and military fig- 


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ores. Marshal Moskalenko was 
praised Monday for his long and 
varied service. 

His military career started in 
1920, when he fought with the Red 
Army in the civil war, and he 
worked his way to the nation’s 
highest military rank in 1955. He 
commanded the prestigious Mos- 
cow garrison and then headed the 
strategic missQe forces. 

Marshal Moskalenko was politi- 
cally active, serving as a member of 
the Communist Party CenLral 
Committee and, since 1946, of the 
Supreme Soviet, or parliament. 


■ Other deaths: 

John Sorting, 71, who teamed 
up with his twin brother, Roy, to 
make some of Britain’s best-known 
films, including ‘Tm All Right 
Jade,” Tuesday of cancer in a Lon- 
don hospital. 

Suemftsu Kadowaki, 88 , a former 
Japanese ambassador to both the 
Soviet Union and Italy, Tuesday of 
breathing complications at a Tokyo 
hospital 

Paul Cofin, 93, one of France’s 
most famous poster artists, Tues- 
day at his home in Nogent-sur- 
Marne. 


Greek Soldier Dies in Mishap 

The Associated Press 

SALONIKA, Greece — A Greek 
Army bomb disposal expert was 
killed Tuesday, and four soldiers 
were injured during an exercise in 
setting mines, militar y sources said. 


Miss Balzoani, 36, a leader of 
the Red Brigades urban guerrillas, 
has been sought for years in con- 
nection with a series of crimes, in- 
cluding the 1978 abduction and 
subsequent killing of Mr. More 
and the 1981 kidnapping of Briga- 
. dier General James L. Dozier. 

The police said she was arrested 
at the apartment of a friend with 
whom she has been bring in the 
town of Ostia, west of Rome. 

They said they had raided the 
apartment after receiving a tip 
from a guerrilla who had turned 
police informer, identified as Gian- 
hrigi Criaimi. 

Miss Balzerani was tried in ab- 
sentia and sentenced to life impris- 
onment for the kidnapping and 
murder of Mr. More, a former 
president of the Christian Demo- 
cratic Party and five-time prime 
minister. The sentence was upheld 
by an appeals court earlier this 
year. 

Until she vanished in 1978, she 
had been directing the Red Bri- 
gades’ operation in the Milan area, 
police alleged. 

Prosecutors have said she contin- 
ued to play a leading role while in 
hiding, hatdring plots that includ- 
ed the Dec. 17, 1981, kidnapping of 
General Dozier from his apartment 
in Verona. He was rescued by a 
police commando raid on Jan. 28, 
1982. 

Described as a key member of 
the “executive council’' of the Red 
Brigades, Miss Balzerani has re- 
ceived numerous prison terms, in- 
cluding three life sentences for dif- 
ferent crimes. 

On Dec. 7, 1984, a Milan court 
sentenced her to life imprisonment 
for the assassination of three po- 
licemen. She also drew a life sen- 
tence for General Dozier's kidnap- 
ping, but an appeals court ordered 
that she and three others be retried. 

Divorced from Antonio Marini 
another Red Brigades leader, she 
was described until last year as a 
girlfriend of Mario Moretti, a 
founder of the radical group, who is 
serving a life sentencefor the Moro 
assas s i na tion. 


Even so, according to the maga- 
zine, Dr. Mengele was unrepentant 
fra his activities in Auschwitz,- 
where he was estimated to have . 
directed 400,000 people to their 
deaths. In a letter to his son. Dr. 
Mengele declared that be had no 
need “to justify or at all apologize;" 

In a telephone interview, An- 
dreas Hillgrubcr, a West Gentian 
historian who inspected Bunte's 
documents, said that Dr. Mengde 
emerged as “an unreconstructed,;. 
Nazi who holds to everything ht. 
did without regreL" 

“Everything speaks fra their be- 
ing authentic,” said Mr. Hfflgmber, 
an authority on the Nazi period. “If 
they were falsified something 
would have been done to make him 
more attractive — as was the case 
with the Hitler diaries.” 


DOOIVESBURY 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985' 


'eft 


SCIENCE 


ll|A 




Calif omia Magma Pool May Prove Energy Source 


By Waiter Sullivan 

New York Times Service 


, J I HREE-DIMENSIONAX 


■- 4 I..T- 

■ • r. 

- - 1 mapping of molten rod: be- 
. 'I \jV neaih the area east of Yoserahe 
_ ' .X National Park in Calif ornia has 

i.J'vj .confirmed the existence of a cham- 
, filled with magma that is at 

. : eight miles wide and six miles 

j deep (13 kilometers by 10 ldlome- 
' “**)■ The aim of the mapping was 

• •--&* J twofold: to assess the likcfihnod of 
’• \,Hv volcanic eruptions near the Nevada 
. border and to evaluate the ale’s 
V t> ^ potential as an energy source. 

'"--if Various oil prospecting teeb- 
1 oiques were used, as well as drill 

- • 0 u* h “ es ’ to sample the buried strao- 

. 


Hires and perform subterranean 
earthquake monitoring. 

Small quakes that frequently oc- 
cur in the area have been analyzed 
from surface stations to chart the 
buried magma chamber. Artificial 
quakes have been prodneed by one- 
ron chemical explosions and by 
lines of special trucks that set the 
ground vibrating at various fre- 
quencies- - - • 

The tests, described at a recent 
meeting of the American Geophys- 
ical Union in Baltimore; suggest 
that one part of the magma cham- 
ber may come within two miles of 
the surface; This is of special inter- 
est to the Magma Energy Technol- 
ogy Program of the UTS. Energy 


]&N 

_*«■ 




IN BRIEF 


H 

"‘ r i”jr. 

J V* 11% 

;••• . i,«. 


^tXoge Undersea Volcano Discovered 

^ MENLO PARK, California (UPl) — A huge underwater volcano ai 


v- MENLO PARK, California (UPT) — A haras underwater volcano and 
v other features have been disowned by scientists waking on the largest 

. V. , - W project to date to map fbe ocean floor. 

-'''Ird.L- AmIihbm nf awanteMMiMml nirtnnai nmdnced hya sonar imaging 

’ that’s never been 
f eight U. S. Geolofpcal Survey 
i 1 tow; scientists to mak e the trip last summer aboard the British tap Faraefla. 
:K ~~ “It’s blowing evayone’i 


b’smmd.” 


' u*; The volcano 15^000 feet (4*550 : 

r •' *: th? gj.' the Northern California coast — 
r; , ^ wide — showed signs of geologica 


I feet (4*550 meters) beneath the Pacific Ocean off 
. its crater is six mrtei (10 kilometers) 


tOllit 


signs erf geologically recent activity, researchers said. 

* ■- ?; F^Mgos Studied as Oiemical Eater 

’ l ' : EAST LANSING, Michigan f AP) — Researchers working with white- 

..•i “ IL rot fungus, which commonly decays dead trees, say the fungus also 
' ^ destroys dioxins, PCBs, DDT and other dangerous chemicals. 

*•-- Steven D. Anst, the biochemist who heads the Michigan State Umver- 

. ftty lab where the fungus was tested, said the theory that white-rot would 

■‘"ff e ®s<> break down toxic poflntanis into chemicals was formed about 

, ■ . . '' v “- G two and a half years ago when graduate students were studying the 

processes that enabled the fungus to break down Hgrun, a highly resistant 
. .. Pcaife natural substance in wood. 

v- The fungus, Pkanerochaetc dvysosporium, broke down dioxins, DDT, 

benzpyrene and two kinds of polychlorinated biphenyls in e xperim ents 
■' "r.% financed by the U. S. Environmental Protection Agency, Dr. Aust said. 
- :: cat? He said the results of the experiments would be published in Science 
■ .- •‘tr magazine. 

1 •■■s'sa; The fungus, which works verydowly, would not break down chemicals 




1 flrr 


that have accumulated in hitmans or animal* because it would be 
destroyed by antibodies, researchers said. 

Natural-Core Theory for Pyramids 

; ^"“r MOSCOW (UPI) — A Soviet researcher claims that die Great Pyra- 
J t- min* of Egypt are based on remnants of a small moun tain range, the 
weekly Moscow News has reported. “My hypothesis boils down to this: 
Fnrfi of the big pyramids has a core of natural rock m*ide it,” the 
researcher, Ana ton VasOyev, said. 

Dr. Vasilyev, who has never visited Egypt, dismissed danns that 25 
millkm umltito 


:V- v 





Ititon slabs were used in the construction of the Pyramids. 
‘According to my calculations, big pyramids can exist only if they are 
built around a rod: care,” he said. “Without such a load-carrying 
structure, the pyramid would simply collapse.” 

Pesticides, Parkinson Disease Linked 

MONTREAL (AFP) — Parkinson’s disease, which leads to body 
spasms and «msde is partly caused by excessive use of pesti- 
cides, acxmrding to a top Canadian researcher. - . 

Andii Barbara, head of neurofriotagy.at the CEnical Researqfi'Insti- 







.-•!_*? MOSCOW (Reuters) — Soviet scientists, still mailed by a whistfing, 

f i,, blazing firdiall \rinch swqit over southern Sberia last year but appears to 

: v ' have left no trace, now theorize that increased meteoite and fireball 

" activi^ are related to the approach of Halley’s Comet, Tuss rroarts. 
The fireball appeared over the dQr of Tomsk in February 1984, a red 
flash so strong that it switched off automatic street lights. A scientific 

- — — ‘ team seardiing the nearby^ Tungudca freest for debris or craters has failed 

r — — . -7 to find anythmg. 

Evidence suggests fireballs and metecuites may be finked to the coming 
\ passaged Hafir’s Coma, Tass said. In 1908, two years before the comet 

last passed Earth, metamtes and fireballs were seen in the same Siberian 
, ■ ^ r^iem as well as in Britain, Eurqiean Russia and China, the agency said. 

Red Wine Called Worst for Migraines 

LONDON (NYT) — Researchers have identified chemicals in alcohol- 
ic beverages that may account for the migraine headaches that are 
touched off by alcohol in some people; The c he m i cals — especially 
plentiful in red wine, the worst offender for migraine sufferers — inhibit 
an enzyme that deactivates substances that produce headaches. 

A research team at Queen Charlotte’s Hospital said many red wines 
can cause a complete inhibition of the enzyme tat white wines have less 
of an effect. Among spirits, vodka and gin had the least effect and were 
less inhibiiing than while wine or brandy. No relationship was found 
between a beverage’s alcohol content and the extent of enzyme inhibition. 

Sea Animals Found at 4,000 Meters 

ABOARD THE NADIR, off Shimizu, Japan (AFP) — The deepest 
ocean colony of animals ever discovered, inducing crabs, snails and 
banana fish, has been found southwest of Tokyo at 13,200 feet (4,000 
meters) by the French diving craft Nautilus. 

Thfi N ftp tilii* is inv Bsrigatrng the muriumism of Ruth plat* movements 
for a Franco- Japanese project dubbed Kaiko (undersea trench). Sea 
ammfll colonies are rarely found below 3,300 meters. The deepest found 
before now was near the Galapagos Islands, at 2,600 meters. 

The man in charge of the venture Xavier le Pichon, aboard the 
Nautilus’s mother ship, the Nadir, said: “We were very much surprised to 
tad it in our third alve.” Not aB the items discovered were rare; they 
^uded a plastic bag with a popular cartoon drawing on h. 

Ancient Inca Grain Studied 











f**' 

. # 

*■» 

■ i* **• 




1 ■- 


The Associated Pres 

H UATAHUAYA, Bolivia — A 
high-protein grain cultivated 
for centuries by toca tribes in the 
And® could hdp solve hunger 
problems in the Third World, ac- 
cording to a U.S. group that is 
marketing it 

A recent study by Texas A&M 
University said quinua (pro- 
nounced keeu-wa) was “about 18 
percent high-quality protein" and 
“superior in food value to most 
other grains in the world.” Wheat 
^pn tains 11 percent protein and 
qbm 35 percent 

“Quinua can be grown in places 
with extremely poor soil but where 
malnutrition is rampant. It resists 
the most severe climates,” Stephen 
Gorad, president of Quhma Crap, 
of Boulder, Colorado, said during a 
recent visit to Bolivia. 

Quinua Crap, and Sima Blanca 
Associates, a nonprofit organiza- 
tion. said quinua could become a 
r hflnp, easily grown substitute for. 
. - . wheat, which many poor -countries 
are hard-pressed to lmport- 
Quinua Crap, said that quinua 
jas being grown e xpe ri me n tally in 
Sghi western U. S. states, ■ that 
-t planting was being expanded in 
South America and that tests were 
,/ under way in Europe. Japan and 
China. 


jle of Indian descent in Bo- 
livia, Peru and Ecuador make 
quinua into fiakes, roH it in cereal 
form or grind it into flour fra bread 
and cakes. What cooked, it tastes 
somewhat tike wOd rice. 

“You can use it far practically 
anything," said Fortunate Chqo, 
40, an. Aymara Indian farmer in 
Huatahuaya, near the Bolivian 
shore of Lake Titicaca. “Also, 
when a drought two yean ago de- 
stroyed almost all our crops, the 
only thing that survived was 
quinua." 


Collection 

escaik 

■ and all sportswear 

SALES 

Marie-Martine 

8, Roe de Sevres, Paris 6th. 

Tel: (1)2221844. 


Department, which .is seeking to 
exploit such deposits as energy 
sources and is a co-sponsor of the 
survey. 

The magma ehamhw lies be- 
neath the Long Valley Caldera, a 
volcanic depression 20 miles long 
and 10 miles wide kfl by an explo- 
sive eruption about 700,000 years 
ago that hurled 140 cubic mOes of 

ash into the sky. blanketing m u c h 
of the western United States. 

Volcano specialists have found 
no reason to believe eruptions there 
are at an end. They emphasize, 
however, that despite continued 
swelling of the l ong Valley Calde- 
ra and recurring earthquakes be- 
neath it, induautg a moderately 
severe one in November, there are 
no indications drat a great eruption 
is innrmw^t , 

Smallra eruptions within the past 
1,000 years have left a five-mile row 
erf craters, die Inyo Domes, extend- 
ing northward from within the cal- 
dera. Tree-ring counts indicate that 
the last occurred 470 years ago. 
Extensive experiments aimed at 
understanding the TTwhanira of 
those ontoonrings were described 
at the Baltimore meeting by scien- 
tists from the Sandia and Lawrence 
Livermore National Laboratories, 
the U.S. Geological Survey and 
several universities. 


Inyo Domes 


id obliquely i 
confirmed ti 


that the 


domes woe produced by lava fiow^ 
ing up through a single north-south 
fisure, leaving a buried wall, or 
dike, of volcanic rock. , 

The Long Valley Caldera has 
Irate been a focus of geological 
stndtes. In 1973 seismic surveys be- 
gan to suggest that a large magma 
chamber lay under the caldera. 
Subsequently swarms of earth- 
quakes and swelling of the caldera 
appeared, to indicate rhar magma 
was flowing tuto the chamber, and 
is 1982 the .Geological Survey 
warned thaian eruption might take 
place. 

A central region of the caldera 


Soviet Scientists Report 
Two Dinosaur Finds 

UmieU Pros Jaiemaiioitai 

MOSCOW — Scientists have 
found the remains of dinosaurs 
that roamed what is now Mongo- 
lia's Gobi Desert 60 million to 70 
million years ago, Tass reports. 

“A joint Mongolian- Soviet expe- 
dition has discovered the skeleton 
of Testaceous antylosaur" the offi- 
cial news agency said, calling the 
creature a “living tank with thick 
plates of stone armor weighing sev- 
eral terns." It said the scientists also 
found a huge skeleton of a tarbo- 
sanr, a meal-eating reptile with 
sharp-notched teeth. 


Door six inik-s in diameter has risen 
as much as three feet (0.9 meter). 
Measurements along the Intrastate 
395 highway across the shoulder of 
this resurgent dome have shown 
that since 1975 the road has risen 
17 inches (43 centime las). Because 
the swelling has slowed and the 
earthquakes have subsided, the 
eruption alert has been withdrawn. 

One goal of the research, as stat- 
ed by Dr. John B. Rundle of the 
Sandia National Laboratories in 
Albuquerque, New Mexico, is 10 
find out “what is driving the sys- 
tem." The area has long been a 
focus of volcanic eruptions. Some 
north oT the caldera occurred about 
three minion years ago. 

In an interview. Dr. Rundle not- 
ed that the caldera was where the 
southern part erf the Sara Nevada 
front was sharply offset to theeasL 
Along that front two distinct 
“provinces" of North American ge- 
ology meet: the so-called Basin and 
Range Province to the east and the 
Sierras rising two miles high on the 
wesL Unweathered rode along their 
base shows that they are stih rising. 
The Long Valley eruptions and 
those that have occurred at Mono 
Lake, 18 miles to the north, seem 
related to (he offset. 

The caldera studies have used an 
exploratory weQ sunk by Santa Fe 
Geothermal Inc. 3,000 feet into the 
caldera floor as far as the Bishop 



Tuff, which is volcanic debris from 
the great eruption 700.000 years 
ago. The well is not used for energy 
production, but those at Casa Dia- 
blo Hot Springs, farther south 
within the caldera, are producing 
15 megawatts — comparable to 
the output of a moderate-sized oil- 
powered planL 

As part of the mapping project a 
geophone was pressed against the 
walls of the well at 100-foot inter- 
vals to record waves produced by 
natural earthquakes around the 


caldera rim as well os tremors gen- 
erated by vibrator trucks lined up 
east of the well 

Researchers have recorded pres- 
sure waves from 2,450 earthquakes. 
Delayed arrivals indicated which 
waves had passed through magma. 
This showed not only that a large 
body of molten rock lay beneath 
the caldera but that a broader low 
velocity zone extended north to- 
ward Mono Lake and southeast be- 
neath the Sierras. 

Also recorded has been the raan- 


llitNnTDkTaw 


ner in which shear waves generated 
by 281 small earthquakes originat- 
ing beneath the southern edge of 
the caldera were absorbed by mol- 
ten material; shear waves, which 
produce ground motion at right an- 
gles to the direction of wave travel, 
do not readily pass through fluid. 

This has mealed two “cupolas'* 
rising from a single underlying 
magma body, one of which, to the 
south, is believed to come closest to 
the surface and offer the most 
tempting source of magma energy. 


Pan Am. 

The Bigger Expedience. 



In 1985 Pan Am's sayice 
will be even bigger. We're adding more nonstop 
flights to cities we now serve/plus new service to 
even more cities throughout Europe. 

Sonowyou've an even bigger dxoice when you 
fly Pan Am. 

In fact everything about Pan Am is bigger. 
And, for travellers, that means better. 

Bigger on the inside. 

We're in the process of enlarging our 747's. 




Not much we could do on the outside, but inside 
we've given you a lot more space. More space for 
business with wider six across seating in 
Clipper® Class. More space for luggage 
with the cavernous overhead luggage 
bins we're installing this year. 

Little things that make us bigger. 

We've also added lightweight 
electronic headphones and a brand 
new Sony video system. 

So now everyone has the best 
seat in the house. 

But it's not just the 
hardware that makes a 
Pan Am flight more 
enjoyable; it's the software too. 

Like carnations and silver 
service in First Class. And your 
choice of main course served to 


you separately 
in Clipper Class. 
And friendly 

cabin crew that take a real interest in you. 

Big around the U.S. 

Whether you're flying to the U.S. or on to the 
Far East or Australasia, 

Pan Am try to make your 
journey easier. Same 
terminal connections in 
most major airports 
around the World. (We're 
big enough to arrange that.) | 

At New York, our 
Worldport® is the only 
terminal 

at JFK to have international and 
internal U.S. flights under one 
roof. So you can step off your flight 
from Europe straight onto your 
flight to a U.S. city. 

Big in the Apple. 

If you're travelling First or 
Clipper Class to New York the 
Pan Am experience doesn't end at 
JFK. A free helicopter service 
awaits to whisk you to Manhattan or Newark. 

In the evening a free limousine is available to 
chauffeur you to your hotel in Manhattan. 

N( “ 

better service 





At Pan Am we don't v just give you a 
comfortable flight, we believe in making 
your journey easier and more enjoyable. 

That's why, all in all. Pan Am is a bigger 
experience. Next time you fly to the States, 
think big, think Pan Am. 

Call your Travel Agent or the nearest 
Pan Am office. 

Fan Am-^bu Can't Beat The Experience, 







Page 6 


THURSDAY, JUNE 20, JL985 


licralb 


INTERNATIONAL 



Sributtr. 


PuUbbed With Tbe i'lew York Than nd The Washington PoA 


From Pretoria, Contempt 


The South African government intensifies 
its campaign of force and threat against its 
neighbors. Just in the last few days its armed 
forces, claiming to be attacking guerrilla bases, 
invaded the capital of neighboring Botswana 
and coldly killed some 14 persons. Including 
three women and a 5-year-old child. Then 
Pretoria proceeded with its long-rumored plan' 
to set up a pliant puppet regime, its alternative 
to internationally acceptable independence, in 
its longtime colony of Namibia. 

The attack on Botswana makes plain why 
the existence of apartheid in South Africa is 
itself a source of danger to tbe region. South 
Africa has made no showing that African Na- 
tional Congress guerrillas were operating out 
of Botswana. It simply stormed in, strewing 
about death, intending presumably to add one 
more mark of intimidation to all the others 
that have made life miserable for its neighbors 
over the years. The imperial arrogance of 
South Africa, its determination to flaunt its 
un comes led power, was on full view. But what 
it really demonstrates is the lack of self-confi- 
dence and the insecurity thai lie not far under 
the readiness to go to the gun. 

South Africa has spent decades failing to 
deliver on its promise to gram independence to 
Namibia, also a neighbor. In the Carter period 
it went the puppet-regime route, which led 
nowhere, and now it is crying again. There is 
always a fancy excuse; this lime it is that 


Cuban troops remain in Angola, to Namibia's 
north. But what South Africa does not say is 
that Cuban troops remain there to protect the 
Angolan government precisely against South 
Africa. Last month its commandos woe 
caught about to sabotage the American-owned 
oil facility that is Angola's most valuable eco- 
nomic asset. Meanwhile, Pretoria continues to 
sponsor the Angolan insurgency led by Jonas 
Savimbu The same lack of sdf -confidence is 
evident: a fear of the fact and example of self- 
rule by blacks not beholden to South Africa. 

The United States responded to the raid into 
Botswana by railing the ambassador home. It 
boycotted the installation of the new setup in 
Namibia, which it had already denounced as 
null and void. The question is not whether 
these protests are right and sufficient. The 
question is why South Africa proceeds with 
policies — its repression at home as weD as 
acts outside its borders — that trash the ex- 
pressed opinions and urgings of the govern- 
ment whose favor is most important to it. It 
proceeds with them, moreover, as the U.S. 
Congress contemplates sanctions. 

The evident answer is that South Africa has 
taken the U.S. policy of “constructive engage- 
mem" as a big wink. The policy was supposed 
to earn President Reagan a South African 
hearing for his counsel to reform, but what it 
has brought seems much closer lo contempt 
— THE WASHINGTON POST. 


Austral Shock Treatment 


To break disastrous inflation. President 
Raul Alfonsin imposes a drastic remedy. He is 
ru nnin g high risks and showing great courage. 
Whether he wins will depend on how Argenti- 
na's people react in the coming months. 

Tbe inflation rate, currently running about 
1.500 percent a year, is the most immediately 
dangerous of the burdens that Mr. Alfonsfn 
inherited from the incompetent junta that pre- 
ceded him. At first he thought that conven- 
tional restraint and appeals to the public, 
would be enough to control it. But the infla- 
tion rate has lately been accelerating, and Mr. 
Alfonsin has come to see that a failure to 
master it would end in a collapse not only of 
the economy but of Argentina's newly estab- 
lished democratic government as well. 

To wring out inflation by the usual method 
of keeping money tight — the method that the 
United Stales has used in the past six years — 
would require in Argentina a recession of in- 
tolerable length and severity. Mr. Alfonsin has 
chosen a more radical alternative. 

The immediate cause or inflation is a huge 
budget deficit. It has been running at well over 
10 percent of GNP. (By comparison, the feder- 
al budget deficit in the United States is around 
S percent of GNP.) Mr. Alfonsin has declared 
that the Argentine deficit will come down to 
25 percent of GNP in the second half of this 
year. That would be a greater achievement 


than balancing the U.S. budget by Christmas. 

Mr. Alfonsin has abolished the peso and 
introduced the austral The name is a reference . 
to tbe south, Argentina's place in the world — 
a nicely calculated appeal to national prid& 
He has pegged its exchange rate to the U5- 
dollar and set the short-term interest rates for 
borrowers at 6 percent (Recently they have 
been running as high as 40 percent a month.) 
That is shock treatment on the grand scale. 

One precedent that comes to mind is the 
currency reform in western Germany after 
World War II. But that was imposed by the 
allied military occupation, not, as in Argenti- 
na, by an elected government Shock treatment 
seems to work only when a country is seized by 
a real sense of crisis. Circumstances in Argen- 
tina are not those of 1948 in Germany, defeat- 
ed and suffering widespread destitution. 

Some people in Argentina will probably 
fight the new program on grounds that it is 
unfamili ar and they fear losing money under 
it They will be supported and abetted by 
others with very different reasons of their own 
to want to see Argentine democracy destroyed. 
But inflation is debilitating the country, and 
not only its material standard of living. Shock 
treatment can succeed if Mr. Alfonsin suc- 
ceeds in convincing a majority of Argentina's 
people that there is more at stake than money. 

— THE WASHINGTON POST. 


College Sport in Trouble 


After so many scandals in American college 
sports, you would think that a convention of 
the National Collegiate Athletic Association 
would be riveted on reform. But the agenda for 
a New Orleans meeting this week looks more 
like an exercise in damage control. 

More than sports is at stake. In the last six 
months, Clemson has lost a president who 
could not bring the trustees and the athletic 
director to dean up the sports program; Tu- 
1 one's basketball program was destroyed by a 
gambling scheme that may have involved drug 
dealing; Memphis Slate has been accused of 
failing to graduate a single blade basketball 
player in more than 12 years. (It reportedly 
graduated only four whites in that time.) 

Faced with pervasive corruption, tbe NCAA 
proposes a few adjustments. It would require 
annual audits of athletic budgets. It would 
reclassify rules violations as major and minor, 
depending not on ethical values but on the 


“competitive advantage" gained. It would re- 
quire schools that hire a coach with violations 
elsewhere to justify his employment. 

These measures betray no awareness that 
corruption in athletics compromises the integ- 
rity of an entire academic institution. What is 
more, they fail lo address any number of issues 
crying out for attention. Why, for example, 
should not freshmen be barred from varsity 
competition so that they can first adjust to 
college studies? Why should there be no Arm 
limit on the length of basketball seasons? 

The one encouraging note Is that the 44 
school presidents who convened this meeting 
are no longer willing to leave athletic decisions 
to coaches and athletic directors. They would 
be well advised to stand closely together. As 
tiie president of Clemson can attest, challeng- 
ing the patrons and managers of big-time col- 
lege athletics can be a risky business. 

— THE NEW YORK TIMES. 


Other Opinion 


Ignoring Terrorists Backfires 


Greece, in ihe person of her foreign minis- 
ter. Yiannis Haralambopoulos. has blamed the 
l initrtt Siaip* for :» “defamatory campaign" 


United Slates for a r ~ r 

againsi her over her role in the TWA hijack 
drama. To accuse the Greeks of actively aiding 
or abetting terrorism would certainly be 
wrong. But ii docs seem io be true that Greece, 
like France and some other countries in the 
past, has preferred to take a passive line to- 
ward terrorism, hoping that this and its rela- 


tively pro-Arab stand on political issues would 
prevent it from becoming a target. But Greece 
is now finding, as France found before her, 
that immunity cannot be bought this nay. 

We must hope that behind Mr. Haralambo- 
poulos's bluster some urgent rethinking of 
Greek policy is going on, and that the govern- 
ment will not wait for the International Feder- 
ation of Airline Pilots’ Associations to decree a 
boycott of Athens airport before it takes seri- 
ous measures io improve security. 

— The Times {London). 


FROM OUR JUNE 20 PAGES, 75 AND 50 YEARS AGO 


1910: Cuba and Spain Decnss Trade 
MADRID — Don Jose Zulueu. member of 
the Cortes, will imerpellaie the Government at 
the Cones on the matter of the commercial 
treaty with Cuba. This step is taken by pres- 
sure from the Catalonian merchants interested 
in the prompt end of the negotiations. These 
are being carried on in Havana by request of 
the Cuban Government, which has expressed a 
desire to favor Spanish demands when they do 
not endanger Cuban and American interests. 
Don Roscndo Fernandez, who represents the 
Havana Chamber of Commerce in Spain, and 
also the dear manufacturers, has presented to 
the Cuban and the Spanish Governments a 
report pointing out the concessions which can 
be mutually made without giving the least 
ground to protest to American commerce. 


1935: Senate Passes Social Security 
WASHINGTON — The Administration's so- 
cial security bill, embodying provisions for 
old-age pensions, unemployment insurance 
and other features, was swept to passage by the 
Senate [on June 19] by a vote of 76 to 6. The 
bill has been returned to the House, which 
passed it two months ago by a vote of 372 to 
33, for approval of the Senate's amendments. 
Tbe measure is regarded as the most important 
piece of legislation in the New Deal program 
not yet to be enacted. The bill constitutes one 
of President Franklin D. Roosevelt's first at- 


tempts to solve the machine-age problem by 
' “ * " s of the bill are 


long-term planning. The features i 

fundamentally reform instead of recovery 
measures, designed to relieve as well as help 
prevent cyclical depressions. 


international herald tribune 

JOHN HAY WHITNEY. Ouumum 1**81*31 


Katharine graham, william s. paley, arthur ochs sulzberger 

Co-Chairmen 


PHILIP M FOISIE 
WALTER WELLS 
SAMUEL ABT 
ROBERT K. McCABE 

carl gewirtz 


LEE W. HUEBNER. Publisher 

Eututne E4uur RENE BONDY Dautv Publisher 

n _ f *«w- ALAIN LECOUR 

ftytan Editor RICHARD H. MORGAN Pubhsker 

Dtpm- EJtior STEPHAN W. CONAWAY Director of Operas 

iJSMOe Editor FRANCOIS DESMAISONS Dmtur of Crafanm 

ROLF D. KRANEPUHL Director of Adrcr8va> Sdi n 
International Herald Tribune, 181 Avenue Chario-dc-Gaulle. 92200 Neuilly-sur-Seine. 

France. TcL: 1 1)747-1265. Tdex: 612718 (Herald). Cables Herald Paris. ISSN: 0294-8051 

Dimteur 6e hi puhhaman. Water N. Thayer. 

Asia HciiJifturters, 24-34 Hennessv Rd, Hong Kong. TcL 5-285618. Telex 61170. 

Manging Dv-J-'K: Rubm Maciudun. 63 LmgAat, London K'C. Tet 836-4802. Tdex 262009. 


® 1985. Inummenal Herald Tnlme. Alt rights referred 



i Gzr m & in# 



... IN6- 

gruAlldNs.,? 







A New Era 
For Politics* 


In America 


Mozambique: Whose Interests Do Saboteurs Serve? 


R OCKPORT, Maine — In Mo- 
zambique a nasty liule war is 
sputtering into its fifth year. Now, 
than Its to clandestin e intervention 
from outside, it threatens to become 
bloody and prolonged, and to under-. _ 
mine the prospects for regional de- 
tente in southern Africa. 

Last year, when Marxist Mozam- 
bique and apartheid South Africa 
signed a nonaggression pact — .the 
Nkomati accord — it was hailed as > 
opening a new era in relations be- 


By Robert Jag ter 


ted his chief ue- 
tL The Russian 


no political base or deep roou among 
sMozambk 


the Rhode- 


theMozambican people, nor a coher- 
ent political program. 

It was set up in 1976 
sian intelligence service from a | 
of Mozambican refugees, mostly ex- 
meroenaries of the Portuguese colo- 
nial forces. Tbe Rhodesians armed 
them and sent them back into Mo- 
to harass Robert Mugabe's 
las, who were attacking Rho- 


did so. President Samora Machel 
would almost certainly be forced to 
call on the Soviet Union for more 
counterinsurgency arms and military 
advisers, thereby further dimming 
the prospects for regional detente. 
This scenario would be good news for 
the Russians but not for the WesL 
Is it in the West's interests, then. 


to join South Africa in 


tojotn: 

Machel 


the 


government? President 


up a shadowy group of clandestine backers elsewhere. 


tween South Africa and its neighbors, 
and as a model for the region. Under 
its terms Mozambique expelled the 
African National Congress, which 
had been using Mozambique as a 
staging area for guerrilla attacks 
against South Africa. In return, Pre- 
toria expelled the Mozambican Na- 
tional Resistance (Renamo), whose 
guerrillas had been trained, armed. 

Financed, and directed by South Afri- 
ca to conduct raids inside Mozam- 
bique. Shortly after the accord was 
signed. South Africa — apparently as 
a sop to its military, winch had run 
the Renamo operation — rushed 
1,500 armed guerrillas and large 
quantities of equipment into Mozam- 
bique. Since then, however, both 
states have honored the accord. 

But Renamo, after losing its South 

African sponsors, recently picked up , 

a shadowy group of clandestine back- VY past two < 

ers elsewhere. Among these' allegedly ~ several African 
bankrolling its current activities are— * — rL ‘“ — J 
two foundations in West Germany, 
two Portuguese businessmen who 
had extensive holdings in pre-inde- 
pendence Mozambique and an Arab 
potentate who apparently hopes to 
see an Islamic republic established 
in northern Mozambique. 

Flush with this growing support, 
and with its final “golden hand- 
shake” from South Africa, Renamo 
recently intensified operations. From 
its previous hit-and-run raids against 
remote farms and outposts, it has 
moved to large-scale sabotage and 
armed attacks in every province, fre- 
quently cutting off the capital itself. 

Should Renamo's growing success- 
es be seen as favorable to Western 
interests? The overthrow of Mozam- 
bique’s Marxist government would 
be a clear setback for Its patron and 
chief arms supplier, tne Soviet 
Union. Its replacement by a non- 
Marxist government would seem to 
be pure gain for tbe West 

To accept this argument, however, 
is to ignore the reality and dynamics 
of regional politics. 

Renamo is not a legitimate nation- 
al movement- Unlike the UNITA in- 


desia from Mozambican bases. When 
Zimbabwe became independent in 
1980, Renamo fled lo South Africa, 
whose Military Intelli gen ce Section 
became its new bass until the Nko- 
mati accord was signed 

Operations by Renamo's largely 
mercenary force would fade, perhaps 
rapidly, woe its financial support cut 
off. But what if it continues? The 
fighting will escalate, undermining 
the Nkomati pact and spilling into 
neighboring states. 

So far Renamo has not seriously 
threatened the regime's survival. If it 


chefs policy changes in the last few 
years suggest that it is. 

Disillusioned with its ties to the 
Communist states, Mozambique has 
been moving toward tbe West: join- 
ing the IMF and the World Bank, 
breaking up the East Bloc-managed 
state farms and parceling them out to 
small farmers, encouraging Western 
investors and linking tbe economy 
more closdy to South Africa. 

Politically, too, Mr. Machel has 
shown growing independence from 
the Soviet Union. He recently demot- 
ed three hard-line Marxist cabinet 


ministers and 
gotiator at 
boycott of the 1984 Olympics did not 
prevent Mozambican athletes from 
competing in Los Angeles. Finally. 
Mr. Machel has sought western mili- 
tary instructors for his armed forces. 

Western leaders should make dear, 
through public statements and offers 
of assistance, that they support the 
present government and oppose ef- 
forts to destabilize iL A strong de- 
marche should be made to govern- 
ments thought to be bankrolling 
Renamo or encouraging others to do 
so. A demarche to Pretoria might 
bolster its commitment to Nkomati, 
and weaken any vestigial support for 
Renamo among the bureaucracy. 

Beyond that, the West should 
tender its good offices to enhance 
President Macbefs offer of amnesty 
for Renamo guerrillas, and to make 
that offer a more attractive option 
than continuing the fighting. 


By David S. Broder . 

W ashington — uma some. 

thing better comes along, I am 
prepared to nominate "The New Di- 
rection of American Politics,” & vol>'. 
tune soon to be published by Tbcjp 
Brookings Institution in Was h i n gton, - - 
as the most convincing interpretation • 
yet presented of the Ronald Reagan* 
era m American government. . 

The 400-pagc study by 15 scholars, 
edited by John E Chubb and Paul E, . 
Peterson, makes a percussive cue 
that what we are witnessing is historic 
— one of those big swings or “re- ■ 
alignments'’ that serve as lanAmiri^ 
in America's development. 

The editors and the two autfado 
of the chapter on political parties, 
Thomas E. Cavan agh and James L: 
SundqtrisL are careful to say they are i 
not predicting long-term Republican ± 
dominance of national government 
They do say that the Republicans .V 
have advantages that reach well be- 
yond the personal appeal of Ronald 
Reagan: the tilt of the electoral col- 
lege to the West and tbe South, the 
superiority of their national fund- 
raising and political organizations, 
and the growing tendency of swing 
voters — especially younger ones — 
to think of themselves as Republi- 
cans. But the authors readily concede 
tha t in certain circumstances and 


fonri" 11 

Ii- 

flnUlr " 


with the right candidates. Democrats 
maybeabieti 


: to win national elections. 
The book lifts tbe argument about 
the significance of “the Reagan revo-' 
lnfiaxr out of the swamp of specnb- 
tion about the 1986 ana 1988 elec- 
tions and deals with the phenomenon 
that has already occurred. It is partic- 
ularly helpful in clearing up the puz- 
zlement mat many of us who cover 
politics have felt about the seeming 
immutability of die Democratic ma- 
jorities in the House of Representa- 
tives and state and local go wn u nmt 
Tbe sensible suggestion is to fhmk 
of an ocean wave breaking on a sea- 
walL The wave is the tide of voter 
sentiment that throws one party out 
of office and installs the outer. The 


leader of the incoming. party (Mr. 

: the rcspqn- ^ 


The writer is a 1985-86 research 
associate with the International Insti- 
tute for Strategic Studies in London 
and has a book on Namibia scheduled 
for publication next month try Harvard 
University’s Center for International 
Affairs. He contributed this comment 
to the International Herald Tribune. 


Maputo Has Begun Looking Westward 


^y'ASHINGTON — During the 


decades we have semi 
nations him away 


By Melvin R. Laird 


Sooth Africa officially cut off sup- 
Renamo, but armarentJY 


feoeq Soviet models and political alli- 
ances ' — Egypt, Somalia, Guinea, 
Mali Cape Verde. Guinea Bissau and 


Guinea, 

Mali Cape Verde, Guinea Bissau and 
Madagascar. Now the United States 
has the opportunity to reverse Soviet 
influence m the self-styled Marxist 
nation of Mozambique. 

1 recently accepted a Slate Depart- 
ment invitation to head a trade mis- 
sion there. Our talks with President 
Samora Machd and his government 
made plain that Mozambique needs 
and wants Western and especially 
U.S. investment- I believe it is in 
America’s interest to provide iL 
With the end of the Portuguese 
empire in 1975, Soviet-backed libera- 
tion movements took power in Ango- 
la and Mozambique The new regime 
in Mozambique, its own problems 
unsolved, supported guerrillas oper- 
ating against the lan S mith r egime, in 
Rhodesia and against South Africa. 


Rhodesia retaliated by helping to set 
— theMaz 


uj> an insurgency- 


surgency in Angola, which draws its 
im the nu 


Mozambican 
ational Resistance, known by its 
Portuguese acronym as Renamo. 

Thus began a cycle of cross-border 
violence that continued even after the 
establishment of a black-led regime 
in Zimbabwe, the former Rh 


strength from tbe numerically domi- 
nant Ovimbundu people and which 
earned its nationalist credentials 
fighting the Portuguese, Renamo has 


For Pretoria then offered bases and 
support to Renamo within South Af- 
rican borders. Increasingly frustrated 
by African National Congress opera- 
tions launched from Mozambique, 


South Africa began to mount land 
and air operations in Mozambique. 

By 1982 a combination of drought, 
guerrilla destruction. South African 
raids, the loss of Western and South 
African economic investment and 
technical expertise and the failure of 
the Russians to make up that loss had 
reduced Mozambique's economy to a 
shambles. Mr. Machd made a basic 
decision that his countiy could no 
longer bear the brunt of a military 
confrontation with South Africa. 

President Reagan saw that as long 
as the level of cross-border violence 
remained high, Moscow would have 
opportunities to expand its influence, 
but that a decision in the region to 
seek a diplomatic solution and con- 
centrate on economic development 
would serve the U-S. interest- Only 
the United States had the relations 
with all parties that would allow it to 
mediate. And only it and its Western 
allies had the private sector, technical 
expertise and development aid to of- 
fer countries such as Mozambique 
the hope of building their economies. 

Washington helped bring South 
Africa ana Mozambique together to 
discuss their problems. In March 
1984 they signed the Nkomati ac- 
cord. Mozambique, against the wish- 
es of the Russians mid most other 
African states, carried through on its 
commitment to dose ANC bases. 


Japanese Courtesy Is Good Business 


By John A. Cicco Jr. and Richard D. Snyder Jr. 


N E!W YORK — Western cor- 
porations often admire Japa- 
nese business techniques, but it is 
interesting that what may well be 
the most subtle but most powerful 
weapon in Japan's management ar- 
senal has gone largely unnoticed. 

It is so basic and simple that it 
cannot be copyrighted or patented; 

and so uncomplicated that consul- 
tants can't make money leaching iL 
Yet it seduces foreign businessmen 
and trade negotiators. 

This beautifully plain but criti- 
cally important secret is nothing 
more than simple courtesy. 

Not the plastic politeness that 
retailers too often snow to custom- 
ers in America. Not the pandering 


attitude that service types too often 
id certai 


show to clients. And certainly not 
the perfunctory “have a nice day” 
that telephone operators squeeze 
into rushed responses to callers. 

In Japan, lack of courtesy is the 
one unforgivable sin — it can cause 
almost immediate banishment from 
the Garden of Lifetime Employ- 
ment. Dearly ingrained courtesy is 
not limited to sales clerks, waitress- 
es and Laxi drivers. Even the most 
senior executive, phoning an asso- 
ciate, will patiently spend several' 
minutes asking how he is, how the 
family is or now his back feels, 
before dealing with whatever busi- 
ness may have prompted the call — 
regardless of its seeming urgency. 
As the Japanese explain it, what- 


ever the problem may be, it is the 
relationship with the other per 


ip witn ute other person 
that will be the basis of its solution. 


So the relationship, not the prob- 
lem, deserves primary attention. 

By contrast, perhaps the greatest 
weakness in Western organizations’ 
structure and in their dealings with 
customers and constituencies is a 
lack of simple courtesy. We have all 
dealt with companies and bureau- 
cracies that, after going to great 
efforts to get us to use their prod- 
ucts or services, give us an obnox- 
ious sales clerk, waitress or some- 
one else who leaves us Eeding that 
we have intruded on their day. This 
discourtesy not only threatens tbe 
intended transaction so carefully 
encouraged by marketing and pub- 
lic affairs personnel, it also discour- 
ages future transactions. 

The problem runs far deeper 
than the obvious “get good people 
to deal with the public.” it rests 
basically with an aloof managerial 
class that avoids personal contact 
except under the most controlled 
conditions. This is a class well 
schooled in good manners but woe- 
fully illiterate in basic civility. 

In ayo Nitobe observes in “Bushi- 
do: The Soul of Japan": “Politeness 
is a poor virtue if it is aoua ted only 
by a fear of offending good taste, 
whereas it should be the outward 
manifestation of a sympathetic re- 
gard for the feelings of others.” 

Managerial training can fail mis- 
erably to instill the necessary “sym- 
pathetic regard for the feelings of 
others." Just as in tbe court of 
Louis 70V, while there is constant 
’ " - on proper etiquette and 
ck of courtesy spawns 


corrosive resentment and hostility. 

So institutions install elaborate 
communications systems to im- 
prove personal contact, only to 
have them stopped up by executives 
who have learned never to return 
calls too quickly. They develop ex- 
pensive advertising programs only 
to have them break down because 
an impatient $4-an-hour sales derk 
is rude. They schedule tedious be- 
-modifii 


ha vior- modification seminars that 
teach clever manipulation rather 
than the value of simple respect 

In America, lack of courtesy does 
not arise from some natural flaw in 
the national personality. Americans 
are normally friendly people: The 
problem seems to derive from the 
large size of institutions and the 
prescribed technocratic manage- 
ment persona of busy importance 
that requires aloof inaccessibility. 

There is hope, however. Not loo 
ogp there was a brief flush or 
Ithy courtesy among even the 
most pompous of aranizaiioas. As 
firms floundered during the last 

recession, organizational pretense 

broke down and basic camaraderie 
emerged. But as crises pass and old 
habits slowly return, an important 
economics lesson may be too quick- 
ly forgotten: Discourtesy is not 
only not very nice, it is an intoler- 
ably inefficient luxury that no bus- 
ness nor society can long afford. 


Mr. Cuxo is president of a manage’ 
mem consulting firm and Mr. Snyder is 
an associate. They contributed this 
comment to The New York Times. 


port (or Renam o. put apparently 
made a major arms delivery. Tins 
“golden handshake” enabled Ren- 
amo to intensify its activities. 

South African-sponsored talks 
aimed at a cease-fire between Ren- 
amo and Mozambique neared agree- 
ment in October 1984, when, for rea- 
sons that remain obscure, Renamo 
walked away from the table. 

South Africa recognizes that its ba- 
sic interest lies in having a stable 
on its boniers and that the 
it could provide 
that stability, while Renamo could 
noL Pretoria has steadily increased 
economic and security cooperation 
with Mozambique and has spoken 
out increasingly about the negative 
effects of Renamo’s activities. 

The overall voting record of Mo- 
zambique at the United Nations is 
not wnal the United States would 
want, but its position on 10 key voles 
improved substantially during the 
last session. The United States is re- 
ceiving evenhanded treatment in the 
Mozambican press, and its assis tance 
efforts are highlighted favorably. 

Mozambique has signed an agree- 
ment with the U.S. Overseas Private 
Investment Corporation and pub- 
lished a business code designed to 
attract Western investment Some 
state-run industries are being sold to 
private entrepren eurs. Tbe United 
States has beat helping to encourage 
a balanced relationship that includes 
diplomatic contacts, private invest- 
ment, trade, economic and humani- 
tarian assistance and a modest mili- 
tary training and assistance program. 

There axe those who argue 


mere are utose wno argue against 
dealing with a self-styled Marxist 
state. 1 disagree. The only way to 


advance UJS. strategic goals in the 
Third World is to compete in relevant 
ways — on the ground, through pro- 
grans, presence and diplomacy. The 
United States should be ready to re- 
spond constructively to openings »h»t 
advance its interests at any time. 


The miter, U.S. secretary of ddi 

ibmed this 


from 1969 to 1972, conrrihurL 
comment to The Washington Post 


ense 


Reagan, in this case) has 
ability to devise policies that mtu$. 
the public demand. If he does, as Mr/ - 
Reagan did in his first term, tbe first 
wave may be followed by another 
even mare pawerfuL The 1984 decs 
tkm was that second wave. 

But even after that second wave, 
the Democrats are more strongly en- 
trenched in the House and in state 
and local government than what Mr. 
Reagan was first elected. How can 
this oe a political realignment? 

The book's answer is to think of 
the seawall as the institutional frame- 
work: against which the big waves are 
'ing. The stronger the walL the 
it fains to brrak through, 
wo points help darifythe picture 

The mst is historical: The older th#'" 
nation, the stronger its institutional' 
stmeture. The shift of power from the 
Federalists to Jefferson’s Democrat- 
ic-Republicans was so traumatic that 
the air was filled with charges of 
treason, and institutions almost 
cracked. A bit lata, the rise of tire 
Republicans helped bring on the Civ- 
il War, and the Union dissolved. 

Tbe second point is stractnraL The 
presidency and to a lesser extent the 
Senate become the immediate focus 
of change because they are seen as the 
most powerful parts of the govern- 
ment. Contests for their control are 
so competitive that shifts in popular 
sentiment register quickly and 
strongly. By contrast, member* of the 
House have built up individual de- 
fenses against political tides, using 
their influence over districting deri- 
sions, service functions and access to 
commnnicalions and campa ign fi- 
nances to insulate themselves. 

There are two implications in this . : 
analysis, both of them encouraging \ 

Republicans. One is that if you ac- 
cept the wave and seawall analogy, 
then you have to think that as tang 
as (he Republicans provide policy 
changes that meet the public mood 
(tax reduction and simplification, for 
example), they will continue to make 
inroads against the institutionalized 
Democrats. (Be ready for Republican 
gains in governorships in 1986, 1 say.) 

Second, once the sea has broken 
through, do not expea to see the 
same shoreline again soon. As Mr. 
Chubb and Mr. Peterson say, “The 
terms of political debate and the 
course of public policy have been 
fundamentally transformed ... An 
economic downturn or a foreign pol- 
icy reverse may rejuvenate the Demoy - 
crats, but die policies they once <$>/ 
poused will not be as resilient. Big 
deficits, strong defease commitments 
and doubts about the welfare stale 
will shape the political and policy 
future — whatever the fate of parties 
or presidents in particular elections." 

The Washington Post. 


LETTERS TO THE EDITOR 


An Idea for Onr Time 


_ “An invasion of armies can be re- 
sistedjbut not an idea whose lime has 
come," Victor Hugo wrote in 1851 
That is a good comment on Annand 

Hammer’s onininn mlnnn 44 a d 


of a sad world combing away its le- 
thal dandruff was not bad either. 


DESMOND AVERY. 
LaCourneuve, France. 


- — . uu miuaufl 

Hammer’s opinion col umn “a Rea- 
n -Gorbachev Initiative" (June 17 ). 


gan- 


L _ Athens Airport Faulted 



Again a plane from Athens has> 
been hijacked. Greek authorities . 


have the duty to prevent passengers 
from boarding planes with weapons. 
1 for one wuT not board any plane 
picking up passengers m Greece. 

HENRY JULIUS. 
Geneva. 


Giateauroux Defended 


Maybe the time has indeed come. 

spirit is not 
such a farfetched idea after all Con- 
gratulations for spreading the rumor, 
anyway. Valentin Anesia’s drawing 


Regarding" Dining in Chdteauroux: 
tost in the Salt ” (June 14): 

Jean Bardet’s cuisine is wrath the 
trip. A recent dinner was as near to 
perfection as one can attain. The sea- 
soning was excellent, and Mr. 1 


kept a light touch with the salt 
nda Wt 


Patricia Wells must have visited the 
restaurant on a bad day. 

SUZY PATTERSON. 

Paris. 




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^P: 


A SPECIAL REPORT 


THURSDAY, JUNE 20, 1985 



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1 -A liw: 


Tourism: 
Its Image 
Changes 


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MADRID — The Spanish tour- 
ism boom that amar «f the world 
by drawing as many as 22 rain in n 
visitors a year to Spain in the 1960s 
is still booming. 

Spain greeted 40 million. foreign- 
ers last year, one for every Span- 
iard, ana they brought 57 J billion 
with them. 

“We calculate that we got nine 
percent of all tourists travrirog in- 
ternationally,” said Ignacio Va- 
sallo, director of promotion for the 
Spanish Tourism Secretariat 
That percentage is escpected to 
- .... translate this year * nr ° 58 Trillion 

■ for Spain. After a few years of slow 

growth due to the international ofl 
crisis, construction £a the tourist 
sector is moving ahead, too; with 
the accent on quality. 

" “We want aO new construction 
to be of top category,” Mr. Vasallo 
said. “We want to build only hotels 
that are five-star.'* the highest offi- 
cial rating given to holds in Spain. 

Not by coincidence does the 
World Tourism Organization, a 
United Nations agency that pro- 
motes tourism by providing techni- 
cal assistance to developing coun- 
tries, have its headquarters in 
Madrid. Spain, recognized as as 
authority in matters pertaining to 
tourism, has its own Official Tour- 
ism School whose students current- 
ly include 64 foreigners on scholar- 
ships funded by the Spanish 
government 

Spain has been exporting its 
tourism know-how for years and 
this now involves the techniques of 
1980wtyte big business. 

- - To tell the world about timriMs 
- .? ■ Mediterranean beaches, castles 

built by Cnisaden and high Pyre- 

- nees mountain passes, Spanish 
SS tourism officials have quietly 
-S', slipped into a new world of com- 
. . puier-generated iriartufing studies 

- .. .and highly sojdristiciiled adyertis- 
^iing campaigns.. - -- - - 

■ ^We have (hanged i tat since- 
: 1983, when we drew up a world 

. - marketing plan and realized that 
. what we needed first was a corpo- 
rate logo," Mr. Vasallo said. “We 
.. asked Joan Mir6 to create one for 
.... usandhedktgivmgiLtoussbortN 
7 before his death in December 1983 
. at the age of 90” 

The Mir6 logo is colorful and 
exuberant, depicting a stylized sun 
w red and yellow, the cioiora of the 
Spanish flag, accented by blade, set 
: ofT by a starUke shape that looks 
like a bouncy aacridc, above some- 
what antic letters that spdl out 
7- “ESPANA." It now appears on 
' 1 Spain's tourism brochures and 
■ pesters. 

Detailed marketing plans are 
drawn up yearly for each of the 1 1 
nations that, snee the first mass 
~ tourism erf the 1960s, have accotmt- 
ed for almost 95 percent of Spam’s 
.7--.. foreign visa ton. These are the IMt- 
~ - ed States, Britain. West Germany, 

‘ ... France, Belgium, Italy, the Nether- 
' .7, . lands, Sweden, Finland, Norway 

■ . and Denmark. 

Tourism from the United States 

has grown from 700,000 in 19S2 to 
almost 950,000 in 1984 and is ex- 
(ContiHaal oo Next Page) 


Fusing Modernism 
And Traditions 


ami die 
tradition that 
sorroands it Is 
back in style, 
and tbe arenas 
are foB (Page 
llXCfrdoba 
and its Mosque 
provide a 
window on 
early Spain 
(P»ge*D. 




Members of Madrid’s 
postmodern movement 
keep the camtaTs chron- 
iclers busy (Page 8). 
Meanwhile, the govern- 
ment focuses on foreign 
investment and industri- 
al growth. (Page 10). 



Gonzalez Cultivates 
His Garden With 
Sure Political Hand 


Water and the 'Myth 9 of Agricultural Potential 


r By Barbara Bell 

ALMERIA — 1 Mannd Escfinez, 
a farmer like his father before him 
in this diy region of southeastern 
Spain, sliced open his first mdon of 
the season as ae stood in a plastic- 
covered greenhouse -and spoke of 
his feelings about joining die Euro- 
pean Community. 

“I think that this will be a good 
thing,** he said hesitantly. “I don’t 

nwdgrytand much about politics 
but I see on television that they are 
putting a lot of problems in our 
way. 

“And I understand that with the 
limi tation's they are sating for us, 
our situation will be almost worse 
at dm begmnmg than it is now." 

“They* of course, refers to nego- 
tiators from the EC who, with 
Spanish representatives, have 
drawn up the long and complicated 
clauses of the treaty governing 

S 's entry into the community, 
is to take place after a target 
date of Jan. 1, l! 


Fears that Spanish fruit and veg- 
etables atxdd flood lie markets of 
other EC members, ruining their 
own agriadmral sectors, Ted to 
tense negotiations that resulted in 
quotas and other restrictions cover- 
ing a 10-year transition period. 

Spanish agricultural experts say 
that during the first four years of 
Spain's membership the restric- 
tions wiQ leave many Spanish fann- 
ers worse off than they axe now in 
European competition with non- 
EC nations Hir* Israel, Tunisia and 
Morocco. 

Officials as wdl as fanners say 
that Europan fears of the “the 
myth of unlimited Spanish poten- 
tial” in agriculture are groundless. 

Spam’s agricultural sector last 
year accounted for 3 MEon pese- 
tas, 7 percent of the gross national 
product 

There were 1.76 milli on people 
employed in agriculture, almost 13 


percent of the Spanish labor force 
of 1125 miffion. 



“We have a 

of agriculture, but also one 
menial problem: We lade water,” 
said Pablo Cornejo of the Agricul- 
ture Ministry. 

“That phis land limitations se- 
verely restricts our agriculture, 
which we have been teOhm the oth- 
er countries of the BC for years, 
ever since Spain applied for mem- 
bership in 1977 and aB through the 
negotiations that began officially in 
1979” 

Mr. Escinez’s roughly built- 
greenhouse near Ahneria, the east- 
ernmost town of any consequence 
in Andalusia, has been a focus of 
EC fears, his and thfuiwid s of oth- 
ers like it 

For Ahneria, one of the driest 
but also sunniest places in Spain, is 
the site of a phenomenon some 
refer to as the “Spanish agricultural 
nrirade.” 


Less than 20 years ago, the first 
tat “under plastic," 
as' the method is often described, 
was planted here by Mr. EscAnez's 
unde with the help of the Institute 
for Agrarian Reform and Develop- 
ment, linked to the Agriculture 
Ministry. 

To the experimenters' delight, 
vegetables grown in the iavema- 
dero, or hothouse, were ready for 
market a foil month earlier than the 
same crops grown outdoors, and 
suddenly everyone wanted a taste 
of the 

In 1968, there were only 30 hect- 
ares (74 acres) cultivated under 
plastic in Ahneria province. That 
had jumped to 1,114 hectares by 
1971 and to 7,150 hectares in 1980. 

Now, there are 10,000 hectares 
covered by uwemadens and the 
daily flig ht from Madrid to Alme- 
ria arrives over a sea of plastic 
reflecting the sunset more brightly 
than the real sea nearby. 

Virtually all of the fruit and veg- 


etables grown here, which include 
peppers, cucumbers, green beans, 
melons and smaller amounts of av- 
ocados, garlic and strawberries, are 
shipped to market fresh. Some 
percent to 25 percent of that goes to 
foreign countries, usually by refrig- 
erated trades, which can speed a 
melon picked in Mr. Escanez's hot- 
house tonight to a table in France 
tomorrow. 

Tomatoes are the principal crop, 
with an average annual production 
for the province of 340.000 tons, 
but at this time of year the last 
vines, trained up to a plastic cord 
strung two meters high, are being 
torn out in another of Mr. Escdn- 
efs hothouses. 

“We planted tomatoes here late 
last August and began picking 
them for market October 25." he 
said. 

That advance over the growing 
season for most European fanners 
sounds almost too good to be true 
(Coatumed ou Page 9) 


By Tom Burns 

MADRID — A previous resi- 
dent of the Mondoa Palace, the 
official home of the Spanish prime 
minister, had a swimming pool in- 
stalled in die gardens. Felipe Gon- 
zalez has. characteristically, done 
something quite different. He has 
had pan of the grass lawn on the 
deep-end side of (he pool dug up 
and a cabbage plot laid down. A 
private lunch with the prime minis- 
ter includes a tour of nis vegetable 
garden. 

Mr. Gonzalez lakes pride in 
pointing out how wdl his cabbages 
and his onions are doing and he 
explains at length his experimental 
cultivation of strawberries on sand 
soil and under plastic using drip- 
watering techniques. He says he 
spends as much time as he can in 
his garden. 

The visitor may be impressed by 
the prime minister's agricultural 
skills but the lasting impression is 
of a different kind. Consciously or 
not, Mr. Gonzalez gives out a mes- 
sage with his cabbage-plot tours: 
He has set down firm roots in the 
Moncloa Palace and be looks set to 
stay there. 

As Mr. Gonz&ez, 44, enters the 
final stretch of his four-year man- 
date, Tew in Spain would quarrel 
with such an impression. The prime 
minister has survived midterm vot- 
er disenchantment and both his 
government and the Socialist Party 
that he leads have remained united 
despite broken electoral pledges 
and a single-minded pursuit of eco- 
nomic austerity policies. 

Opinion polls over the past year 
have consistently given Mr. Gonza- 
lez an approval rating or more than 
40 percent The Socialist Party has 
at all times maintained an advan- 
tage of at least 10 points in opinion 
surveys over the conservative oppo- 
sition, the Alianza Popular. Less 
than 20 percent of people polled 


say they would prefer Manuel 
Fraga Iribame. the Alianza Popu- 
lar chairman, as prime minister, la 
fact, the most popular politician 
after Mr. Gonzalez is not Mr. 
Fraga. but Mr. GonsUee's closes: 
political associate. Deputy Prime 
Minister Alfonso Guerra. 

Mr. Gonzalez has indicated that 
he will hold elections in June next 
year, four months short of the expi- 
ration of his term in October I'Rb. 
and the likelihood is that the So- 
cialist Party will regain an outright 
majority and that Mr. Gonzalez 
will have a new four-year term. The 
honeymoon period of the Spanish 
people with ft'hptwio. as Gonzalez- 
-style government has come to be 
called, is far from over. 

The evidence or continued sup- 
port for Mr. Gonzalez appears ob- 
leciivdy to be at odds with the 
continual rise in unemployment 
and the cuts in real income over the 
past three years that have resulted 
from tlie Socialist government's 
strict adherence to budget-deficit 
control. Key promises in the 
Socialist election manifesto con- 
cerned job creation and the mainte- 
nance of purchasing power. Yet a 
recent poli of jobless Spaniards dis- 
covered that the ov erw helming ma- 
jority supported Mr. Gonzalez and 
endorsed his economic policies. 

Mr. Gonzalez may have failed to 
“put Spain back to work," as he 
promised in his campaign tour in 
1982 — there are fewer Spaniards 
at work now and many more unem- 
ployed than when he came to pow- 
er — but the prime minister has 
played two tramp cards that give 
him a strong hand: His mandate 
has provided Spain with a firm and 
united government and. during his 
term of office. Spain has entered 
Europe. 

Stability constitutes a very 1 high 
political capital in Spain. Tne un- 
doing of the Union of the Demo- 
( Continued on Page 10) 



Tending crops in Ahnerfa’s hothouse f arras. 


B Pah 





IM # 







I 




Why the Spanish Have Trouble With the French 


MADRID — Ask a Spaniard about Ins 
country’s relations with France and he is 
likely to burst out laughing, because histori- 
cally, those relations have been so bad from 
the Spanish point of view that his dhoice is to 
laugh about them or cry. 

When he visits the Prado Musenm, he sees 
Spanish patriots rising up in 1808 against 
Napoleonic invaders and later faffingbefare 
their guns in Goya’s paintings oftheTtas de 
Mayo" and “Tins de Mayo.” In the yeara . 
following the death of Franco and the instal- 
lation of a democracy in Spain in 1975, he 
read of Basque terrorists operating an Span- 
ish soil front bases in France, apparently 
unhindered by French authorities. 

Later came the “fishing wars” between 
Spanish and French vessels and, mainly m 
1982 and 1983, attacks by French fanners on 
trucks and tram cars carrying Spanish fruit 
and vegetables across southern France. Vehi- 
cles were burned and hundreds of tons of 
produce destroyed. 

Most recently, the average Spaniard -has 
been irritated by what was perceived as 
French efforts to btack Spain’s enny into the 
European Community. Negotiations cuhnt- 
oated at the end of March, after a series of 
late-night sessions, in agreement between 
Spain and Portugal and members of the EG 
Even Spaniards wilh respect and affection for 
France describe Frances posture in the talks 
as “frankly obstnictiomstic." 

&naB wands’, then, that in a public opin- 
ion poll published Iasi month by the Spanish 
uewsweeldy “Cambio 16,” 40 percenL of the 
more than 1 ,200 Spaniards questioned named 
France as the Common Market country they 
disliked mosL Far behind In second {dace as, 
most disliked came Britain, with 15 percent. 
As their most-liked EC country, 24 percent 


chose West Germany, the leader, but only 6 
percent named France. 

While ex pr essing amusement over the sur- 
vey, several people in Madrid commented 
that in' addition to concern about trade burn- 
ings and EC negotiations, the results proba- 
bly reflected some degree of hostffiiy com- 
mon to all countries that share borders. 

- ^Problems between neighbors are always 
experienced with special intensi ty,” one per- 


40 percent of the more than 
1,200 Spaniards questioned 
named France as die 
Common Maxfcet country 
they disliked most 


son said. “There is a certain resentment, too, 
arid perhaps a bit of inferiority complex 
whenever someone feds that hb neighbor is 

; richer than he is.” 

- Santiago Salas, a Stoanish Foreign Ministry 
official, said, “Actnafly, from apolitical pant 
rrf view, relations between Spain and Fiance 
have' entered a very positive phase and the 
rappvodianent between them in the past 
two-and-a-half years has been spectacular.” 
One of the fust foreign policy derisions 
* ■ ----- - rvezmnent of P rim e 

on its formation m 
coocoted 

effort; an “offensive," one sourcesaid here, to 
improve Spain's relations with France. For- 
eign Minister Fernando Morfin flew to Paris 
that month fra a meeting with French offi- 



cials at which it was agreed to deal with 
specific irritants between the two countries 
within the context of shared concerns and 
mutual interests. 

Most political observers in Madrid fed 
that the brotherhood in socialism” of Mr. 
Ganz&kz and Presdent Francois Mitterrand 
has facilitated bilateral understanding on 
both personal and governmental Levels. In 
any case, France finally supported Spam's 
bid to enter the EC, dashes between fisher- 
men and fanners of the two nations have 
become rare and meetings between Spanish 
and Freud) foreign ministers, with participa- 
tion by other officials, arehdd twice a year, 
the last one in Barcelona in October. 

Mr. Gonzflez has visited Paris several 
times and King Juan and Queen Sofia 

are expectedthere on an official visit July 8- 

10. 

“The single event that most symbolized a 
radical charge by France in its attitude tty 
ward Spain," Mr. Salas arid, “was its qflradi- 
•fion of three members of the Basqnc separax- 
Ist group ETA in September 1984 During the 
time ctf Franco, the justification for sheltering 
such tenrauts was that they were fighting for 
freedom against a dictatorship, but with the 
formation of a democracy in Spain, that was 
no longer valid. France aow cooperates great- 
ly with the Spanish government on this prob- 
lem." a 

At the moment, the rivalry between the two 
countries centers on the 1992 Snmma Olym- 
pic Games, fra which Barcelona and Paris are 
candidates along with Amsterdam aid Bris- 
bane. France and Spain are also competing to 
have die first European Diateyiand, with the 
French backing a site east of Paris at Marae- 
la-VaDfe, and the Spanish proposing space 
on the Mediterranean coast near Alicante or 
Barcelona. 

— BARBARA »HJ- 


SPAIN 


9 


AN ENTIRE 
COUNTRY 
BEHIND 


In Spain. TELEFONICA has for sbety years been 
making the telephone somethrg more than just a 
oemmuration rstnxnent. Recently TELEFONICA 
and its group of companies* have made an enormous 
effort in research and technological developments. 
This has paid handsome dividends. Today every 
business sector h Span benefits from^ TELEFONCAs 
advances n tetecornrrojnicatjons. 


THE 


The telephone is a powerful force for progress 
and TELEFONICA is already looking to the 
needs of the next century. TELEFONICA 
is now also present in the mapr international 
stodc markets Every yep TELEFONICA takes 
n Spam is a giant leap for the progress of rts 
society. That's why in Spam there a an entire 
country behmd the telephone 


TELEPHONE 



Telefonica 


TELEFONICA GROUP* ■ Amper Cables de CorrancaoHte& - Control Elearonco 
ImcgradofMI)- Baa • Enid - Graftxr ■ Hspano Rack) Marions - Indetec - tnteba Secnnaa 
Sreg - ttefta ImmudonN - Telettra Espanob - Standard E tores - T elef c ri a y Dates - 
TiSMmuiaca* Mamas 






INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


A SPECIAL REPORT ON SPAIN 


Cordoba: Philosophy in PiUars 9 Flowers 


CORDOBA — The Mosque, 
with its Forest of pillars spanned by 
arches of red brick and white ma- 
sonry, just celebrated its 1,200th 
birthday. The fountains still play in 
the gardens of the fortress where 
King Ferdinand and Queen Isabel- 
la met with Columbus before he set 
out for the New World, but the 
biggest wonder here is the dty it- 
self. 


ly Andalusian, a dty of 285.000 noons, extols the virtues of Mon- 
with its massive Roman bridge tilla and Monies, the shcrrybke, 
astride the Guadalquivir River, its while wines from the neighboring 
huge Mosque, the rough walls villages of the same names. He en- 
pierced by Arab and a Fauci- joys nothing more than a picnic 

ful bell tower dominating the with his family anwng wMflowere 


sprawling and well-preserved old near the remains of the lOth-ceaw- 
quarter/with its cobbled streets ry Arab palace of Medina Azahara, 

■ - — mi « _ n... c —ll a Imj InlAin^rprc nnrtk rtf PArrlnna 


and flower-filled patios. But for all a few kDometers north of C&doba 
its flair, the people of this city add a in the foothills of the Siena More- 


Cdrdoba, founded as a Roman 


character that they say is more seri- 
ous than that of Cida and Seville. 
“Here erne's sentiments are car- 


Therc is a balanced, thought- 
provoking beauty in COrdoba be- 


cented by wrought- iron mills and, 
here and there, trees full of oranges. 
According to an Arab architec- 


and least exaEeerarad m sunshine unocr a Diue sxy, ao- 
trorms m 71 1 and made an mde- “aggeratea ^ wrought-iron grills and, 

pendent emirate tn746. It was as an of Andalusians. here and therej^s full oT oranges. 

Arab capital that it flourished, be- Since the times of Seneca and the According to an Arab arcfaitec- 
comingm the 10th century a center Jewish philosopher Maimomdes, tura j expert, Hasan Fathy, the 
of learning, excelling in science, the 850th anniversary of whose man y ^didonal houses of old 
mathematics, philosophy and poet- birth in 1135 has just been com- Cordoba, usually built in two sto- 
*y- meraorated here, the cardobis has ^ around patios ornamented by 

It has been written that Jt then b ? ?n ? ,a ?iSf red a of a P 1 ^ 0 ^ colorful dies, small fountains, ce- 
mn minpd “ifiOO mnsnues. 900 P"* ramie dishes, flowers and green 


so other architectural feature can, 
while the sky is pulled down into 
intimate contact with the house so 
that the spirituality of the home is 
constantly replenished from heav- 
en." 

Even glimpses of the cool patios 
from the outside refresh the passer- 
by (important in a dty that can be 
hot from April to October), but if 
an owner is about, perhaps outside 
mopping the front step and then 
the street in front of it, as people 
here tend to do, winning C&rioba 
fame for cleanliness, one is fikejy to 
be invited with a gracious "Pax 
ustaf* to admire a patio from in- 
side. 



« lafH 


v>yi-v : j* 




kill"! 


mathematics, philosophy and poet- 

*y- 

It has been written that It then 
contained “1,600 mosques, 900 
public baths . . . 213,077 homes for 
the general populace, 60,300 man- 
sions for notables and 80,455 
shops.” 

Cordoba today is qumtessential- 


is held the Gist two weeks in May, 
one of the big events in Cdrdoba 


ramie dishes, flowers and green 


He loves bullfights, flamenco, plants, all open to the sky, contrib- 
dresses up for long strolls, parens, ute to a sense of spiritual wdl- 


with his even more elegantly 
dressed wife and children most Sat- 


courtyard, be says, induces a 


urday evenings and Sunday after- “feeling of calm and security that 


Tourism: The Image Is ( Changing 


along with die May and October 
fairs, residents compere to have 
their patios judged most beautiful 
and many are open to the public. 

The do quarter of COrdoba, cov- 
cring roughly a little less than a 
square mile, spills gracefully down- 
hill from the more modem part of 
tbe city to the Mezquita, or 
Mosque, which is located near the 
Guadalquiver River. 

Private cars are no help here. 
Cfrdoba should be toured on foot 



- . ’ 






I \! 


i 


to reconquer Spain from the Arabs. 1JXXJ columns and still has 860. It 
or to the Plaza de la Corredfita, is so vast and impressive that even 


reminiscent of the Plaza Mayor in the insertion of a Roman CathoBc- 
Madrid, in which bullfights were cathedral in the middle of it in the 


once held. 


16th century hardly detracted from 


Other places to seek ont include its splendor. To best appredatelts 
the Archaeological Museum, the powerful presence, go early, shortly 


Julio Romero dc Torres Museum, after the cathedral opens to wor- 
with strange, haunting paintings, shippers at 8:30 AM. and before 


the Bullfighting Museum, with me- the Mosque officially opens to 
raemoes of great bullfighters bom tourists at 10:30, and wander 

* ? I f ■ a r v _ . _ . 


in CArdoba, including Manolctc 
and the idol of the 1960s, El Cbr- 
dobes, the Street of the Flowers, 
which frames the Mosque’s befl 


Manolctc among its pillars, 
i, El Cor- The Mosque can be the center of 
Flowers, a visitor's life in Cdnfoba. The Ko- 
ine's befl id Maimonides (lei: 957-47.15.00), 


(Continued From Previous Page) 


peeled to reach the million marie this year. Britain 
and West Germany are considered Spain’s biggest 
tourism clients, with slightly over 6 milli on British 
visitors last year spending more nights and about 
the same amount of money in Spain as the 5.25 
million West Germans. France actually leads in 
the number of its citizens entering Spain, with 
almost 10 million last year, but they spent fewer 
nights than the Britons and the West Germans and 
ranked third in money spent 

Italian tourism to Spain has grown sharply since 
1982, when Spain hasted the World Cup soccer 
championship, which Italy won. “I talian fans obvi- 
ously liked Spain and told their friends about it” 
Mr. Vasallo said. 

From more distant lands, 109,000 Japanese, 
52,000 Australians and 6.500 Chinese visited Spain 
last year. 

Rising crime has been a problem for the tourism 
industry. Purse snatchings and muggings worry 
tourists and residents alike in beach resorts and 
major cities, and a recent announcement stated 
that robberies in commercial establishments in 
Madrid increased by 32 percent in 1984. 


Basque Country and has no effect cm general 
tourism." He dismissed bomb explosions in other 
ftwctai areas as “harmless little firecrackers.” 
Tourism slogans have been updated For the 


Cbrdoba should be toured on foot The street named Jesus Maria, at walls or the Plaza dd Potro (Plaza 
or in a horse-drawn carriage. The the southwest corner of the plaza, of the Colt), whose inn, still stand- 
place to start is uphill in Cdrdoba’s leads downhill toward narrower mg, Cervantes both stayed in and 


tower between white walls splashed pleasant and comfortable, is just 
with flowers and, of coarse, (he across the str e et. Around the cor- 


ue itself. 


ods. from 


lively main square, the Plaza de las streets branching into tiny, almost 'described in “Don Qnqote," or to 
Tendillas, lined with open-air bars secret plazas. the 14th-century Alc&ar, where 

and caffes that make it an ideal spot Serendipity may lead the visitor 


during four separate peri- Most 
m 785 to 987, and in four ballo 


ner from the hotel, also facing the 
Mosque, is a restaurant, the Ca- 
ballo Rojo (let 957-47.53.75), with 


for sampling Montifla or Monies. 


Serendipity 
to an Arab ga 


izas. the 14th-century Ak&rar, where 

ity may lead (he visitor Fer dinan d and Isabella received 
gate in the andent dty Columbus and directed the battle 


styles of Spanisb-Moslem arefanee- a menu including regional special- 
ture, the Mosque is said to be the ties and di sh e s inspired by the 

aMovI KliiliUnA in C ub Ww an I “ f a .YL W* _ J _ « 


oldest building in Europe in con- cooking of Arab Cordoba. 


tinuous use. It originally contained 


— BARBARA BELL t 


“We warn to main tain tourism on our beaches 
but we also want to remind people that there is 
more to do in Spain and mud) more here than ‘sol 
y playa,' " Mr. Vasallo said. 

For example, a current advertisement pictures a 
seaside banquet featuring seafood, paella and oth- 
er Spanish dishes and proclaims: “There is more 
than one way to enjoy our sunny beaches.” Anoth- 
er displays Spanish ceramics, leather goods and 
handicrafts and states: “You'll bring back more 
than a suntan from Spain.” 


Trendsetters in the Arts Quicken Capital’s Pace 


By Carlos Garda-Calvo 


The future or tourism looks bright to Spanish 
officials. 


This is a “priority theme for government action 
right now," Mr. Vasallo said. 

While noting that London and Paris have higher 
crime rates than Madrid, Mr. Vasallo recognized 
“increased insecurity" as a problem for tourism. 
“We had a couple of bad years but I believe things 
are now under control" he said, citing recent legal 
changes to speed trials and crack down on drug 
dealers and foreign cri minals operating in Spain. 

Also, 4.000 additional police will patrol tourist 
centers this summer. 

Terrorism by Basque separatists, Mr. Vasallo 
said, is "localized in San Sebastian, Pamplona, tbe 


A new marketing program being drawn up for 
next year will attempt to lure tourists to the green 
northern regions of Spain, which, in spite of attrac- 
tions like the cathedral of Santiago de Compostela 
in Galicia, in the northwest, draws only 2 percent 
of Spam's foreign visitors. 

Spain now has 82 pandoras, the government- 
run chain of often luxurious hotels, about half of 
them in castles and other monuments, and a total 
of 850.000 hotel beds. 


's tourism goals are simple, Mr. Vasallo 
said: “In the United States, to be the European 
market dial grows mast. In the rest of the worm, to 
be the leader in every market in which we com- 
pete." 

— BARBARA BELL 


Terrorism by Bat 
said, is "localized in 


MADRID — The movida, a hap- ^ / 
pening that groups together every- 5 ^^ 
thing that is avant-garde, fashion- moveD 
able and youthful in Madrid, is arounc 
gathering momentum in the capi- open e 
taL Members of the movement are theceli 
mainly trendsetters who experi- Spain 1 
meat with new fashions, art forms j^niL 
and new writing. In the past three J Alth 
years they have transformed Ma- mmmr 
drid from a staid, bureaucratic cap- ^ Qri 
ital into an exciting center for new tdevisi 
trends. by 

The mam components of the ^d qi 
movement — they call themselves q n.V.ni< 
movidisias — are film directors, itsmer 
photographers, designers, artists 
and writers. 

Mostly, they wear outrageous 
fashions and enjoy shocking old- ^ j 
style bourgeois Madrid. The mo- The ; 
vida is constantly moving; move- ufyinp- 
ment is central to it, to the point golden 
that the term movida itself has be- people 
crane outdated and the trendsetters years) 
like to think of their movement as 
postmodernist, referring to than- dayswl 
selves as modemos. *. th» i 


Next year, a new torn will prob- 
ably have been coined. European 


A well -known designer, m tiring 
about the noted international 


and American magazines have painter Miqud Barcelb, said “he 
started to publish articles on the never belonged to the movida ," a 


movement, and journalists hang nuance a layman would not recog- 
around the new night spots thai nize, as Barcdb hangs out with mo- 


open every week to catch sight of vidistas when in Madrid. 

the celebrities. People from all over Joan Carlos de la Iglesia, ajour- 


Spain come to Madrid and try to nalist said: “We shall all be wr 
join it treatises on the movida soon, 


Although it dosed down for the living off it fra years. One of the 
summer after two years, “La Edad tricky points in question will be 
de Oro" (“Tbe Golden Age 1 "), a who was in it to start with and who 
television show created and hosted decided to join it when it was under 
by Paloma Chamorro, was the best way. Who were the people who 
and quickest way to become ac- hung around the terrace of fire 
quainted with the movida and to see Teyde bar every night during the 
its members in action. warm season till four o'clock in tbe 

With her Afro hairdo, eyes roll- morning, four years ago ” 
ing, plump lips pouting, Miss Cha- ihe Teyde bar is still flourishing, 

morro introduced the movida for although it has become crowded 
more than an hour. and lacks its original flavor. The 

TTie show’s title was rather mys- modemos have moved onto anoth- 
trfyrng; nobody really knew if the a tenace bar a few blocks op the 


golden age referred to those of the Castellan*. During its heyday, Pe- 
peqple behtt mterwewed (20 to 40 dro Almodovar, who had only di- 
years) or if it applied — with a reeled one movie then, the outra- 


years; or u it applied — wirn a reeled one movie then, the outra- 
touch of nostalgia — to tbe golden g*** «*p cpi> Lud, Bom y Otras 


days when Miss Chamorro was one Chicas dd Momdn," would tab!*- 
’of the happy few who realized that -hep with his star, the sometimes 


BANCO DE BILBAO GROUP: 
BALANCE SHEET AND RESULTS 1984 


there was a movida afoot and who transvestite Fabio de MkneL in at- 
firsi spoke about it m her old, short, rendanen the “entre" 

rather obscure television talk show unkempt eclectic dothing 
five years ago. then in fashion, they would coin 

She interviewed painters, rode catch-words while PaHo Pfcrez- 
musidans, architects, photogra- -Mmguez, a photographer, would 


phers and a an e ina director, who snap away. Krez-Mingnez was one 
were the founders of the movida. It of the first to realize the movida's 


was like seeing memb ers of some potential, and ids albums reflect its 
exclusive dub talk about their lat- history, with shots of Radio Fatnia 


est work. There was also a live and Alaska, the two most impor- 
concert by sranefareiga group, like rant rock groups that dominate the 


Culture Club, Tuxedo Moon, 
Spandau Ballet or Siouxsie and the 


iish musical scene today, when 
were starting on L There is also 


Ban she es, or a cult figure like Di- Pedro Almodovar's progress from 



Banco dc Bilbao has 
pleasure in presenting the 
consolidated Group balance 
shed and results for the 1984 
financial year. 

These figures are extracted 
from the Annual Report of 
the Group for 1984, which 
provides a comprehensive 
and detailed analysis of 
accounting magnitudes for 
the past five years and 
evidences the profitability, 
solidity and financial strength 
of the Group. 

The internal iona! 
expansion of the Banco de 
Bilbao Group in 1984 
materialised in the 
establishment of two nets 
. subsidiary banks overseas: 
Banco dc Bilbao (Suisse) S. A. 
in Zurich and Banco dc 
Bilbao Deutschland A.G. in 
Frankfurt, strengthening and 
amplifying the already wide 
coverage of our integrated 
network of offices in Europe. 


BALANCE SHEET AND PROFIT AND LOSS ACCOUNT 
AT 31 DECEMBER 1984 

AUDITED CONSOLIDATED GROUP FIGURES 

In mflfions of Spanish pesetas 


TOTAL ASSET'S (lea contra accounts) 

CASH & DUE FROM BANKS 

BILLS & LOAMS 

CAPITAL & RESERVES flea minority inierea) 

DUE TO BANKS 

CUSTOMERS’ DEPOSITS & BONDS 

NET PROFIT AFTER TAXES 

NET PROFIT PER SHARE* 

DIVIDENDS PER SHARE* 


1983 

2,225,584 

754,783 

1,132,156 

92,980 

345,266 

1,628,366 

12,767 

286 

119.02 


vine. She also commissioned her "Fepi, Lud, Bom" onward, the 
favorite painters like Carlos Alco- whole cutre-look rags-to-Armani- 
lea or Guillermo Pfcrez Vfllata to riches of the movement, 
write and direct short features for . ... , . _ 
her program, the most famous be- -LjJj ."S* 
mg Ceesepffs “Lady Meets a fiSsf "1 

Tramp,” starring two of Iris muses, a ^ es e * 8 “b es » 1 
LdaMoriarty and Ouka-Lele. 8DCZSaid - 
This led some people to accuse He is not at all surpri 


AhjandroGofarera/Ui Una de Madid 

Agatha Rufz de ia Prada and her hoop dress. 


Today, members of the early mo- Garria-Alix, who always acted in 
vida have become superstars and Ceesep 6 *s films, has became some- 


Franco’s Council of Trent dark ™ » IU ™s, uas oecrane : 

«« mjo Ihe dgtaies.” Nra-Mifr 


hus iea some people to accuse ne is not at all surprise 
the origina] movida founders of be- someone like the American 
ing narcissistic, of forming a dosed rapher Robert Mappletho; 
elite. Neverthdess, most artists in ing photographs of Madric 


or Iras. Artists like El Hratdano y Jos Pegamoidra, a rock band jj 

and PppcpnA caH ramrrhmn »!«■■■ - - e i_ j* »»i» 


He is not at all surprised to see and Ceesqji sdl cmyHang they notorious for hex dictums on life 


ihoiog- paint, and they exhibit with great 
pe tak- success outside Spain. Ouka-Lde, 
s negu- who lived with them both for a 


Spain want to join the movement, lara at Mac, Us favorite bar. “We while and latex married Hortclano, 
something original members re- have become the craze, so it is quite has people queuing up for her pho^ 
sent- natural" he said. tographs. Their friend Alberto 


An inherent characteristic of the Banco de Bilbao 
Group is Ihe well-balanced contribution of tbe 
Fmanctal Group subsidiaries (o (he consolidated 
balance sheet and results. 


Contribution of the consolidated companies 
(as a percentage of Banco de Bilbao figures) 

— Total assets 3&2 

— Advances ,J V'S 

— Customers' funds 


Operating margin 
Operating costs 
Net Profit 



i great and her weird dothing and make- } 
t-Lde, up. Her group, called Alaska am-*.- 
fora Dinanuna now, still has two of its 
elano, founders, Carlos Berianga and Na- 
rpho- cho Canut, who write afl the songs 
Iberto they sing. 

According .to Canut, “when 
Alaska started to see people gang in 
on our scene, she decided ^ tobe- 
come a real pro.” 

Their latest album, “Carnal De- 
sire," topped the charts for months 
and is selling very well in Latin 
America. She also played Bom, a 
lesbian hymphet, in “Pepi, Lud y- 
Bom," Almodovar's first movie. . 

Almodovar has come a kmg way 
since then, directing three more 
movies that have won raves at dif- 
ferent film festivals. His sgcoihL 
picture, about two nymph nm am ar* 
who find true love; and his third, 
about rums who sniff cocaine, were 
areally about the Madrid merrida, its 
transvestites, rode stars and artists, 

.with its very witty dwlngp e mA 
never-ending night fife. 

But the Spanish postmoderns are 






The members of Radio Future, the Spanish rock group. 


London Principal Branch 
tun Cannon Street, 
Ltuidon EC4N OEH. 

M f.2? Utrtl. Telex: SSI 1693 


IN M K\ \l It IN \1 I Il-AIXJL'AKTEKS 
P.ivo • de la t iWellaiu, M 
Un MADRID M»A|N 
LI J«hHU2 K-lex iU>S 


MM) BANCO DE BILBAO 




de la. Prada, a 23-year-old dress 
designer, is a case in pranL She has. 
designed the muffin dress, the bow' 
dress, the bubble dress and the 
b°°P dress. The robe-longue ver- 
sion of the hoop m«iwi women 
look like chic animated tum-af- 
the-asatury lampshades. 

There is also Sy bil la an dfin 
creature just turned 20, who shuns J 
the press, hates being photo- 
graphed and turns out the most 
beautifully finished intricate 


•'TiV* 


r . . _ | WHoftfei-Mna^nolunadfUtaiid 

From left: Pedro .Almodovar. Fabio de Miguel and Pablo Perez-Minguez. 


ing to the movemenL He staged tbe 
city’s San Isidro festivities along 
those Tines, with rock concerts ev- 
ery day ..for a week, and seemed 
very pleased when they attracted 
musses of tourists. 


r.i-: ; • 

q a : J 

tt--' ’• 
i v iCj 

"Si 1 ' 1 ' 

itLi;-- 

Ji-"' 


iiivf Ti • 

rcjil'"-' • ’ ' 
-. hn 

[cniij: ■ 
ixwjw" • 


pir,3iii; 

pr«'ini 

•pnuxl * 
njx> ; 

iwmsji U- :!•••• 
j(|l\'..u 

pani-- ■■ii-w. • 
Spam -r. i.-.i 
pru.o 
Vi bo; \r..- 
OHTipkl.si ' 

: ..e 

“‘.ochal U. m •• 
gluap ri i 
nienijiix!. . •. 

ftjrdily.M- ,• 

in HfL-xo. . 

the (roj;. .• •- 
iind. JLitj; ': • 
Ksdu:.’. * - - 

“iriii! S. :.v . . 
dapii. ■ 

Meric .• . ... 

the neu . 

ptixeec:i--;'.u. • , . 

'Vllhif ... - 

PtMi;:... - 

WxLjt.-j ; 

^ JPcn:-; . 

t-n-.,; ... 

■ ■ 

'W«x! |i . 

■“■aluuf •! 

.-‘Oil r. 

^^uiiva ... "" 






a 







INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


A SPECIAL REPORT ON SPAIN 


Page 9 . 


ipital's Pac, 



ik U 


Modern 
Methods 
Updating 
Wines 

By Victor de la Serna 
RED — Bottles of wise 

V nBwi« and unfamiliar la- 
bels are appearing almost daily in 
-■ : ,;i supermarkets throughout- Spain. 

More signifieanily. the contests 
' j ii,." taste differently from traditional 
• Spanish wine — drier and Ertritier. 

. y. The wines are the result of modem 
'• ^ wine-making techniques. 

' r --.,v The new wines, which aim at 
r -f . ; competing in the middle bracket of 
1 ' ^ I,* Europe’s quality appellation contrb- 
lee market, hold their own with 
y some of the older, mostly red, 

■ r. * Spanish wines. They are the key to 
Spain’s hopes lo reap rewards from* 
\r.i'A wine exports once it enters the Eu- 
,1^; ropean Community. 

' ~, r _' Visions of cheap, bulk wine from 
Spain invading Europe win proba- 
- , . L, “; bly remain just that — visions. The 
Spa in- EC agreement, in which 
wine plays a prominent role that 
. was hotly debated in the negotiat- 
- : V r . ing process, includes a production 
.y quota of 214 milli on hectoliters 
y R V. (620 milli on gallons) of bulk wine 
per year. This is roughly the output 
of an average year m Spain. Pro- 
duction beyond this level wilJ anto- 
maticaliy trigger the compulsory 
[*P distilladon of all surpluses. 

^ Despite having the largest vin- 
eyard-covered surface in the world, 
1.6 million hectares (S.77 million 
acresX Spanish output is usually 
less than half that of France or 
Italy. In a very dry country, yields 
per hectare are little more than a 
third of those in France and Italy. 
Now, with the EC-imposed quota, 
threats of massive bulk exports 
from Spain have largely waned. In- 
deed, there have beat few protests 
after the March 29 agreement was 
reached in the Langaedoo-RoussS- 
Ion region of southern France, geo- 
erally considered as the main po- 
tential victim of Spanish 
] competition in wine, fruit and pro- 
! duce. 

Spain and its vintners are thus 
pinning their hopes on an im- 
5 proved supply of quality, miri- 
j -priced wines to Europe. These 
types will not be limited by produc- 
tion quotas. However, they <riH be 
affected by “compensatory- 
amounts," that is, export taxes, to 
partly off set the difference between 
Spanish and community-wide 
prices. 

When the accession treaty was 
completed in Brussels, agreement 
on those export taxes was also, 
-Reached. However, a concerned' 
group of French negotiators has 
attempted, in subsequent technical 
meetings, to revise those taxes up- 
ward. This was the case on June 5 
in Brussels, only one week before 
the treaty was to be signed in Ma- 
drid. Manuel Marin, Spain’s chief 
negotiator with the EC, said he was 
u irked by the attitude of the French 
delegation 7 ’ on wine export taxes. 

Meanwhile, the devdopmem of 
the new types of Spanish wines is 
proceeding swiftly — and largely 
outside the country’s two most 
prestigious wine-producing re- 
i-> ifih* gions, La Rioja and Jerez, where 
the aperitif and dessst sherry 
wines originate. 

. - “Jerez and La Rkna are now in- 
volved in their specific problems," 
r" said Jos& Peflin, a Madrid wine 
•.:.* consultant and writer. “The regions 
. . - where innovatioa is proceeding at 
. - full speed are die Penedfcs area of 
' r... VCatalonia, the Rueda section ol 
. . Castile and, most of ah, in La Man- 
. cha." 

Just south of Madrid, the dry La 










UbdCunMooM/HT 


EC GmsidersUnmriring Spam’s Wine Lake 


By Steven J. Dry den 

BRUSSELS — The enlargement of the Europe- 
an Community, Agriculture Commissioner Frans 
Andriessen said in a recent speech, makes reform 
of the conranmfty*s agricultural policies “more 
problematic." 

Mr. Andriessen’s diplomatic understatement 
masked the real concerns of community officials 
over the agricultural implications of enlargement, 
especially the enormous production potential of 
Spain. '• 

The annual production of wine by the EC for 
example, now. averages about 16 .5 billion liters (4J 
billion gallons), but community demand is only 
13.5 htfHnn liters. Much of tins surplus wine is 
• distilled into industrial alcohol at a cost this year 
to the community of more than $850 millio n. 

. Despite efforts to control production, EC annu- 
al output has risen ova the past decade by about a 
bilHoa liters. Community consumption, on the 
other hand, has been decreasing on the average of 
.75 percent every year since 1971. 

Spanish wine production is now dose to 4 bO- 
' 1km liters annually, of which 600 mini on liters is 
surplus, according to a recent EC Commission 
study. What worries community officials is the 
ability of Spamto achieve this impressive output 
while main taming restrictions on the use of irriga- 
tion, new plantings and other yield-boosting tech- 
niques. 

Tbe average output of Spanish vineyards is only 
2,800 to 3,000 liters per hectare (15 acres), com- 
pared with 8,000 liters in the other wine-producing 
countries of the community. 

Concerns about Spanish wine production led 
community negotiators to insist during the en- 
largement negotiations with Madrid that the pro- 
duction level for compnlsoiy distillation of Span- 


ish table wine be set ai 175 Union liters, rather 
than 32 billion liters as requested by Spain. The 
community buys the wine for distillation, but, in 
order to discourage overproduction, only pays the 
winemakers 50 percent of the target price. 

Spanish membership is expected lo create a 
surplus in the community’s production of olive ofl, 
which, since the accession of Greece, has been 
dose to the point of sufficiency. Precise figures are 
difficult to obtain but the EC Commission esti- 
mates that the annual average production of Italy, 
Greece and France, the three EC nations that grew 
dives, is about 770,000 tons. 

S panish production of dive oil averages about 
460,000 tons annually, representing a national sur- 
plus of 35 percent, but it has been growing steadily 
m the past several years. In 1984, the Spanish level 
of production stood ai about 600,000 tons, accord- 
ing to the Ministry of Agriculture. 

Reducing the surplus m olive oil will be difficult 
because -the producers are located in the poorer 
regions of the community and often depend on the 
product for their tivetinood, EC officials said. 
Neverthdess, after the entiy of Spain and Portu- 
gal thecommunity will begm discussion of restric- 
tive measures, they said. 

Spain produces more than twice the amo unt of 
citrus fruit it needs for its domestic markets and 
supplies about 40 percent of the EC demand. 
Spanish citrus growers could boost their exports to 
the community, however, if they could increase 
production to meet demand later in the season. 

Spanish citrus production in 1984 stood at about 
1.8 nwTHn n tons of oranges, 1 milli on tons of 
mandarins and 420,000 tons of lemons, according 
to the Agriculture Ministry. Community produc- 
tion in 1984 was estimated at 3.4 million tons of 
oranges, 290,000 tons of mandarins and 1.06 mil- 
lion unis of lemons. 


Mancha plains have one of the 
world’s largest vineyard areas, 
dose to half a mini on hectares. Su- 
gar-laden white grapes, their juice 
haphazardly fermented, have tradi- 
tionally. produced a cfaeap^ heavy 
ar^flattiastin^ table wine. Howev- 
er, an increasing number of vint- 

thdr advice*cf 

younger, weD-trained oenologists. 

This year, some 50 million liters 
of La Mancha wine (still only 3 
percent of the area’s total output) 
have been made in an entirely dif- 
ferent fashion. The local aiitn 
grapes are packed as much as two 
weeks eariinr than usual to produce 
a more acidic, fruitier, less alcohol- 
ic wipe. The fermentation takes 
place in stainless-sled vats under 
controlled temperatures, and im- 
ported yeasts are combined with 
local rates. The result is very differ- 
ent from old-fashioned La Mancha 
wines and are in time with prevail- 
ing international tastes. 

• “A vintner such as Audits lz- 
quierda, of Socutllamos, now pro- 
duces an excellent white wine remi- 
niscent of a sauvijmon None from 
the Loire;" Mr. Feflfn said. That 
wine sells in Spain for about 120 
pesetas (70 cents) a bottle. 


fimilar wine-malting procedures 
are widely used in Catalonia, where 
local grape varieties are increasing- 
ly combined with others of French 
origin, particularly cabernet satmg- 
nqrCjrinot noir, spurignon blanc and 
pinot chardonnay. Contrastingly, at 
Riieda, the local, somewhat herba- 
ceous-tasting verdejo white grape is 
still most widely used. In the Ri- 
beiro section of south mi Galicia, a 
small amount of high-quality white 
wanes is bang made from the 
unique local varieties, tommies and 
treixadura, which emerged un- 
scathed from the phylloxera dis- 
ease that destroyed Europe's vine- 
yards 100 years ago. These areas 
now use modem vinification meth- 
ods. 

In Jerez and La Rioja, lingering 
problems are still being tackled, an 
ill-advised rash of new vineyard 
planting during the 1960s in Jerez 
resulted in a market ghu, with huge 
unmarketable surpluses every year. 

Acreage has now been reduced by 
one-turd through governmental 
subsidization of vine uprooting. 
But the accumulated losses took 
several of (he leading sherry com- 
panies to the brink of bankruptcy 
— a situation that is only just being 
remedied. 


The lack of prospective buyers 
has slowed the reprivatization of 
the Jerez holdings of the huge Ru- 
masa group, which was taken over 
by the government two years ago. 

In La Ricga, where most of 
Spain’s high-quality red wine is 
made from the tempranillo grape, 
the problem lies in rapidly rising 
prices that have taken their toll in 
international competitiveness. The 
average bottle is twice as expensive 
as it was three years ago Together 
with inefficient fanning methods 
and old, nonproductive vines, the 
main reason lies in long-overdue 
legislation. 

In 1980, regulations banning the 
fraudulent muting of Ricga and 
lesser wines were approved, and 
stiff fines imposed. 

The coupsge-free 1981s have 
reached the stores — and prices 
have skyrocketed.' 

This has created a threat to the 
burgeoning European trade of 
Rioja wines. Crus bourgeois from 
Bordeaux, their main international 
competitors, have increased their 
prices rally marginally. If the up- 
ward tread in La Rioja is not 
checked this year, foreign trade 
may tumble. 






' ■ .V... 


***** • - 





At Ahneria, fields spotted with plastic greenhouses. 


Water and the Realities of Agricnllnral Potential 


(Continued From Page 7) 
and, according to agriculturists in 
Almeria and in Madrid, it is. 

Unregulated pumping during the 
period of rapid expansion so de- 
pleted subterranean water supplies 
that, even with the use of the water- 
sparing drip-irrigation method, 
■-there is barely enough water avafl- 
Table to maintain current cultivation 
’ levels. Worse yet, sea water -has 
infiltrated underground water sup- 
plies. ' ‘ • 

Water from the tap in Almenas 
hoi hotel is undrinkaMy salty and 


although fanners say they have to 
use better-quality water than that 
fra- their crops, they acknowledge 
that salinity is a problem and state 
that* water limitations prevent fur- 
ther expansion in this region. 

Expansion is also unlikely in 
Spam's ancient (Hive groves, but 
Cristbbal Lovera, agricultural dele- 
gate For the province of Gfadoba, 
which accounts for about 20 per- 
cent of Spain’s dive oil production, 
said that olive growers there and 
throughout. Andalusia shared the 
“general, impression" that entry 


into the EC would gradually prove 
beneficial to th em. 

The farmers and produce ship- 
pers of Mediterranean Spain will 
enter the EC with the advantage of 
long experience with European 
markets, and the olive oil industry 
has a similar history. 

. “For more than 100 years, we 
have been exporting to Europe." 
Mr. Lovera said. “Already, about 
20 percent of Spain's olive oil goes 
io uiunirie* in ihe Common Mar- 
ket." 


Agriculture Ministry officials in 
Madrid stressed that rather than 
“invading Europe," as feared in 
some parts of the EC, Spain would 
enter the Common Market “at 
great cost at the beginning and with 
problems of adjustment.* 

For the past three years, Spain 
has directed its internal agricultur- 
al policies toward preparation for 
joining the EC. Mr. Congo said 
adding: “We see this as a coupling 
id two moving trains and wc nope 
that it can he accomplished with at 
uenilt* :i jolt as possible." 


Holding Company for 
the Spanish Oil-Gas Sector 


The Institute National de Hidrocar- 
buros -INH- is the holding company 
which co-ordinates and controls the 
activities of all Spanish Public Compa- 
nies in the Oil and Gas industries. 

INH takes part-in all phases of gas 
and oil production: exploration and 
production, transport and refining of 
crude oil, distribution and marketing of 
gases and petroleum products, manu- 
facture and commercialization of pe- 
trochemicals. 

INH accounts for 12% of the Gross 
National Product, it supplies 30% of 
the prime energy necessary for the 
national market and participates in 
52 companies in the Oil -Gas sector 
thus providing employment for over 
20,000 people. 


Spain 


NEKA 

HtSMNOt 


KTR0UK 

KJttNO 

BUGAS 

CAMKA 




P?de la Castellano, 89 
28046 Madrid, fel. 456 53 00 
felex: 48162 INH E 


TOTAL ASSETS 2.135,3 mffl. u$s. 


TOTAL INVESTMENTS 389,2 mBl u$s. 


TOTAL INCOME 9.019,1 mill. u$s 


Acrmras 


Oil and Gas Production Spain and abroad] 


Basic petrochemical products supplied io 
National Market 


L-quihed Petroleum Gas it P G ) supply 

[o e r a> s .jg£:y in* inr*rna Ma’fc*: 


370.650 million pesetas 


67.553 million pesetas 


1.565.536 million pesetas 


PERCENTAGE Of 
VOLUME NATIONAL TOLU. 


40.014 M 


5.64 Mtoe 


2 li Mi 


21 89 Mtoe 






.{Page 10 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


fA SPECIAL REPORT ON SPAIN 


pladrid’s Recovery Program Liberalizes Foreign Investment 


: . MADRID — Foreign invest- 
-meut, one of the few items in 
[gain’s economy showing strong 
.real growth, has been further liber- 
talized as part of the Madrid gov- 
ernment's recent recovery plan and 
'js expected by authorities to con- 
-linue this pattern. This mil help 
■ Offset the continuing slide of do- 
mestic investment. 

.* Last year, foreign investments 
grew by 14 percent in real terms, 
' but gross capital formation in 
Spain fell by 3.5 percent. The for- 
: dgn influx was even more notable 
•in the bullish Spanish stock mar- 
' fceis, where over-all turnover dou- 
bled but the foreigner* share tre- 
'bled. Altogether, foreign 
. investment totaled almost 52 bti- 
'lion — 1.2 percent of Spain's gross 
i national product. 

Last April, conditions for for- 
eign investment were relaxed as 
‘ part of a plan announced by Mi- 
■guel Boyer, the minister erf 1 the 
'economy and finance, and intend- 
•ed to revive economic activity and 
'‘consumption after a drop in ex- 
ports late in I9S4 practically wiped 
■out the timid growth that Spain's 
; economy managed earlier last year. 

) In keeping with Mr. Boyer's 
plans, previous authorization by 


the Council of Ministers for Invest- 
ments giving a share of 50 percent 
or more to non-Spanish citizens or 
corporations has now been sup- 
pressed. Real-estate acquisitions by 
foreigners have also been thor- 
oughly liberalized. Only a commu- 
nication for statistical purposes 
will be required. Governmental au- 
thorization will still be required for 
a handful of “sensitive" industries 
such as air transportation or local 
radio. 

Under the old system, the cabi- 
net approved practically all invest- 
ment proposals, but there were 
some notable exceptions. Most re- 
cently, a bid by the French edible 
oil concern, Lesieur CotteUe, for 
CarbonelL Spain's leading olive-oil 
bolder, was turned down. The rea- 
son given by the Madrid govern- 
ment was that, since Lesieur al- 
ready controls the Spanish oil firm 
Koipe. the Carbone! 1 takeover 
would have given it control over 
three-quartets of die country’s ol- 
ive-oil production — a “strategic 
sector. The liberal wing of the cab- 
inet, headed by Mr. Boyer, report- 
edly opposed the Lesieur ban but 
was finally overruled by what a 
Madrid newspaper described as 
“the nationalistic, dogmatic wing." 


With European Community 
membership at band, a change in 
the current pattern of foreign in- 
vestment is foreseen by Madrid of- 
ficials. 

“There is already a trend to less 
capital investment m plant by com- 
panies from EC Countries,” the 
state secretary for commerce, Guil- 
lermo de la Dehesa. said in a recent 
businessmen's discussion. 

“With Spanish tariff walls about 
to start disappearing, what the Eu- 
ropeans are interested in is no long- 
er their products here, but 

rather improving their distribution 
networks in Spain so they can sell 
here more of what they make else- 
where. 

“On the other hand," Mr. de la 
Dehesa added, “non-EC investors 
have a growing interest in Spain for 
that Sam* reason — because it will 
soon be a member of the communi- 


ty and gain access to the Common 
Market That is why most of the 
foreign-investment growth can 
now be traced to non-EC countries 
such as the United States, Japan 
and Switzerland.” 

While the percentage of invest- 
ment authorizations to EC coun- 
tries was 51 percent in 1983(Eroma 
total of 243 billion pesetas (SI 38 
billion), it dipped last year to 35 
percent or 315 billion pesetas. 

The overall growth of foreign in- 
vestment is part of a prolonged 
trend — for the past decade, this 
growth has averaged 4.8 percent 
annually in real terms. With Spain 
and the EC getting constantly clos- 
er to an agreement on accession, 
which was finally readied March 
29, the trend accelerated to resem- 
ble a frenzied race. 

Paradoxically, Spanish investors 
have not followed suit (domestic 


investment has been diminishing in 
real toms for 12 years now), and it 
remains to be seen whether lavish 
fiscal inducements in Mr. Boyer’s 
plan will reverse that trend. 'The 
local investors have never recov- 
ered faith after the fast-growth, in- 
stant-amortization era during 
Francisco Franco's last .15 years in 
power. Dissolving profits, fast- 
-growing taxes and the labor mar- 
ket rigidities have virtually dried up 
local investment. 

On the other hand, foreigners 
have taken a very different view Of 
Spain's prospects and Stapled a 
longer term outlook. Compared 
with other areas of the world, par- 
ticularly in developing countries, 
sodal peace in Spain appears al- 
most idyllic, and the country, with 
a population of almost 40 million, 
retains a considerable potential For 
growth and market development. 


which has all but disappeared in 
tidier European countries. 

Also, as the American and Japa- 
nese companies in the automobile 
industry have been quick to grasp, 
Spain's status as an EC candidate 
made it a perfect bridgehead into 
the protected European market 

Not all is rosy for the future if 
some official figures are consid- 
ered, Spanish economists say. Par- 
ticularly, only 10 percent of foreign 
investments in 1984 was devoted to 
the creation of new businesses. 
Most is devoted instead to capital 
increases (69 percent) and to the 
purchase of shares (21 percent). On 
the other hand, profit rennnances, 
divestitures and payments for roy- 



Spam': 

economy as a whole. 

— VICTOR de h SERNA 


Industry: How to Grow Without the f Greenhouse 9 



King's College Madrid 

Bnti.'h Du> and BoanJiii;: vlnaW 




• Recognised British School with international 
student body of 800. 

• Preparation for university entry in U.K., 
USA, etc. 

• Examination curriculum includes sciences, 
computer studies, economics, modem 
languages and sports. 

• Senior, junior. and infant departments taking 
pupils aged 3-18 years. 

• Modem building in extensive grounds. 

• New boarding accommodation opening 
September 1985. 

King's CoSege. Pasco dekts Andes, Soto de Vtflndns, □ Colon. Madrid. 

Trt. 845 28 44/5. Telex 47101 KCOM E. Cables KmgscoBege Madrid. 



BANCO DE SABADELL 
with more than 100 years' 
banking experience, places specialized 
services at your disposal in Spain 

TRADE RELATED TRANSACTIONS 
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BUSINESS DEVELOPMENT SERVICE 
FOREIGN EXCHANGE. REUTERS BSAB PTSX 

Head Hffia*: SABADELL. Spain 
S W I FT- Member 



BANCO DE SABADELL 


MADRID —The most eloquent 
statistic on Spanish industry is that 
in the decade 1973-1984, 2.4 mil- 
lion jobs were lost on a net basis, at 
a rate of 220.000 jobs a year. The 
so-called “Spanish miracle” of the 
1 960s, when the counny’s economy 
moved into top gear, was stopped 
in its tracks by the middle 1970s. 

Spanish industrial policy contin- 
ues to stress the reduction of over- 
manning and the identification of 
future growth sectors. Coloring this 
is the impact erf European Commu- 
nity membership. 

What Spanish economists and 
government strategists have come 
u> realize is that the “miracle" of 
the boom years was deceptive. In- 
dustry grew quickly because it was 
highly protected. EC membership 
means that the greenhouse of pro- 
tectionism will be dismantled. 

In January, Spain introduces val- 


ue-added tax and embarks on a 
seven-year transition which means, 
at its tenmnaLpomt, the full accep- 
tance of the EC common external 
tariff. According to a forecast by 
the European Commission, the ef- 
fect of VAT and of the tariff will 
amount to halving the current trade 
protection enjoyed by Spanish 
products. 

Confronted with such a future. 
Spanish business is, naturally, 
alarmed. A set phrase that is heard 
in business circles is: “Spain is not 



ever the policy of saneamiento. This 
means a concerted attempt to have 
Spanish industry streamlined in or- 
der to survive the rigors of life out 
of the greenhouse. 

Saneamiento has been the buzz 
word among Spanish officials ever 


since the Socialist government took 
office at the end of 1981 Layoffs 
have been the norm in the smoke- 
stack sectors, which are. in the 
main, public owned. The steel and 
shipbuilding industries have been 
shedding their labor force; tele- 
scoping into a two-year period 
what other European governments 
have achieved by stages over the 
past 10 years. 

The prime mover of saneamiento 
has been Industry Minister Carlos 
Solchaga, who soon after taking 
office let it be known that Spain 
was five years behind comparable 
West European societies in the 
drive to update industrial infra- 
structures. 

Late last year, Mr. Solchaga pro- 
moted his undersecretary in the in- 
dustiy ministry. Luis Cartas Crois- 
sier. to be chairman of the 
public-sector holding company, the 


Instituto National de Indus tria 
(INI)- Mr. Croissier, 35, a member 
of the Socialist Party. Mr. Croissier 
not only forced through layoffs, be 
also began spinning off INI group 
companies to the private sector in a 
manner that earned h im the label 
of the government's “Thatcherite." 

He has sponsored unusual 
moves, which have included the 
selling off to private investors of an 
INI-owned carpet and textile pro- 
ducer and the dosing down of a 
publicly owned ball- bearing plant 

As trie smokestack sectors are 
redefined, so has there been an in- 
creased drive toward attracting 
high technology to Spain. In this, 
INI has also played a major role. 
Essentially, the state holding com- 
pany has relinquished its responsi- 
bilities in favor of the national tele- 
communications company, 
Compahia Tdefhnica NadonaJ de 



Goitf 

£(> 


Hie floor of & fish-packing plant in G alias. 


art* 


which is part gov- 
ernment owned and has a host of 
small-time investors much on the 
model of British Telecom. INI, un- 
der Mr. Croissier, has turned, its 
computer manufacturer, Seomnsa, 
which is associated with the Japa- 
nese group Fujitsu, over to CTNE. 

The national telecommunica- 
tions company has thus taken on 


the lead role in Spain’s bid to, in the 
words of Mr. Gonzilez, “catch tie 
train of the 21st century." 

In government and businessor- 
ctes these is, despite jtjoonw statisr 
tics on employment and domestic 
investment and growth, a degreeof 
buoyancy and optimism owerxriot 
lies ahead. ' 

— TOM BURNS 


Gonzalez Cultivates His Garden With Sure Political Hand 


(Continued From Page 7) 

cxatic Center (UCDj party, which 
preceded the Socialists in govern- 
ment, was that, as one former cabi- 
net member put it, “The public 
ended up knowing very well how 
very badly we all got on with each 
other.” The leadership of the UCD 
was constantly at loggerheads, to 
the point that the party’s former 
leader, the prime minister of the 
post-Franco transition years, 
Adolfo Suirez, finally left the party 
and created his own centrist group. 

The Spanish voters firmly turned 
their backs on the UCD in the 1982 
elections and the party collapsed 
into oblivion. The flame of center- 
party policies is kept flickering by 
Mr. SuArcz and his tiny Social 
Democratic Center, which has two 
seats in the 350-member Congress 
of Deputies. 

Mr. Gonzalez, in contrast, has 
maintained the same cabinet team 
he appointed when be took office. 
The Madrid caf^sodety talk of po- 
litical ins and outs and of impend- 
ing cabinet reshuffles has dried up. 
There is no doubt that Mr. Gonza- 
lez. with the idling support of Mr. 
Guerra, is in charge. The Socialist 
Party Congress held last Decem- 
ber, the first convention that the 
party had held since winning the 
elections, was a model erf party uni- 
ty- 

If Mr. Gonzalez governs through 
to next June, as appears likely, he 
will have been (he first post- Franco 
prime minister to have served oul 
bis full term. This achievement in 
>ter appeal. Although 
the official Socialist Party cam- 
paign slogan in 1982 was “for 
change.” Prof. Ignacio Soldo, a 
leading analyst of contemporary 
Spanish politics, says Spaniards in 
reality wanted stability and firm 
government In this sense. Mr. 
Gonzalez has delivered the goods. 

The most trenchant example of 
this policy concerns the relations 
between the civilians and the mili- 
tary. Saber rattling against democ- 
racy. a feature of the transition pro- 
cess until Mr. Gonzalez look office. 


is now noticeable only by its ab- 
sence. Episodes such as the failed 
putsch attempt of 1981 now appear 
tight years away. Such tranquu po- 
litical waters would appear to Mar 
out the judgment that the militar y 
are only a problem in Spain if the 
dvfiianpohticians are a problem. 

Mr. Gonzalez takes credit for Lhe 
fact that during his tenure of office 
politics has become “normalized.” 
One of the points he makes in pri- 
vate is: “I had to wait until I was 36 


the state-directed autarchy. That 
liberalization was accompanied by 
an early bid to join the EC and, 
since Francoism prevented full 
membership, Spain settled for what 
was to be a highly beneficial prefer- 
ential agreement with Brussels in 
1970. The new bout of trade liber- 
alization as a result of entry is seen 
as heralding a second Spanish 
boom. 

There are others who are far less 
sanguine. They point out that two 
zo the West 


before I was able to vote in jdeor.- decades ago the’ Western economy 
tions. I want my son Pablo ‘jbis^Jras growing at full steam and that 
eldest and now aged 12J to vote as this is far from the case now. They 
aw, « ho ic i« argue that at a time Mien Spain's 


soon as he is 18. 

Mr. Gonzalez's major political 
priority is to consolidate democra- 
cy in Spain and he speaks of this as 
the “historic challenge" that he, his 
associates and his party have to 
face. 


By a fortuitous combination of 


trading partners are paying only lip 
service to liberalization and are 
adopting protectionist practices to 
shore up their domestic industries, 


Spain has quixotically agreed to do 
away with its highly effective trade 
barriers. 

“As usual, we are swimming 
against the current," was how a 
Madrid businessman in the domes- 
tic-appliance sector put it 

Tbe Europeanists in Spain con- 
cede thai disenchantment with the 
EC will set in during the early 
stages of membership. The imposi- 
tion of the value-added tax, sched- 
uled for Jan. 1, will have an infla- 
tionary effect and the progressive 
lowering of tariff protection during ■ 
the seven-year transition will have 
an impact on the labor market. 

But the general satisfaction that 
Spain is at tang last accepted on the 
European stage will nevertheless be 
the pervasive sentiment in the early 


months of mem! 

Minister Fernando Morin talks of 
entry as “the end to a historic frus- 
tration." These sentiments will un- 
doubtedly be used by Mr. Gonz&lez 
in next year’s election campaign. 

Political trump cards are neces- 
sary to the prime minister because 
the government’s economic strate- 
gy looks increasingly in disarray. 
The 1982 Socialist Party manifesto 
had mapped out a policy of public 
investment and expansionism to 
create jobs, much on tbe model of 
the French Socialists, but, on tak- 
ing office, the nemW appointed eco- 
nomic minister, Miguel Boyer, put 
tbe manifesto’s proposals into a fil- 
ing cabinet and embarked on an 
austerity program that was a stabi- 
lization plan in all but name. 


Inflation and the budget deficit 
were identified as the twm>efvils by 
Mr. Bpyer as he set about pegging 
salary increases and railing in the 
public sector. 


Mr. Gonzalez has steadfastly 
backed Mr. Boyer. Tbe prime min- 
ister told the December Socialist 
Party convention; “We were not 
elected to power to redistribute 
misery and shortages." The key- 
note theme was that Spain's busi- 
ness class had to be encouraged to 
create wealth. 

Theobgective is to have a stream- 
lined economy, pared down to the 
bone if necessary, and a flexible 
productive process ready to be in. 
tbe front line of growth when the 
world economy takes qp upturn. 





entry into the 
Market has coincided 
with Mr. Gonzdlez's prime minis- 
tership. 

The immediate impact of Euro- 
pean membership on the Spanish 
population has been almost wholly 
psychological. Spaniards view 
membership as a coming of age, as 
the seal of approval on Spain's pro- 
gress and modernity, as an admit- 
tance into a select dub of devel- 
oped nations and as an end to an 
isolationism that has lasted for cen- 
turies. 

Mr. Gonzalez says that with EC 
entry. Spain will “make a qualita- 
tive leap forward” and he claims 
that within a decade “nobody will 
recognize this country." Behind 
such statements lies a conviction 
shared by the prime minister and 
by many others in public life in 
Spain that the country has, in its 
youth and vitality, a tremendous 
potential and that the European 
Community forms the perfect 
channel for Spain's pent-up ener- 
gies. 

EC enthusiasts in Spain argue 
that the country boomed when an 
economic liberalization program at 
the end of tbe 1950 did away with 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


Page 11 


A SPECIAL REPORT ON SPAIN 



\ 


Plazas Fully Bullfighting Is In 9 Again 




By William Lyon 


MADRID — On June 7, at ap- 

; ■ 1 

proximately 9 o'clock in the eve- 
ning, the scene was cumoltuoas as 


the last and best of 24 straight days 
of corridas drew to a dose at Mb- 


drid's San Isidro fair, which might 
be called the world series of buD- 
fightmg it bring s together 

the best matadors andbulls m the 
world’s most important plaza. 

More than 20,000 people, many 
with tears in their eyes, stood 
chanting “torero, torero, torero!” 
at Antonio Chanel, popularly 
known as Antofiete, a frail. 


paunchy. 53-year-old grandfather 
in his last season as a matador, who 
was being carried around the ring 
in t riumph after having created, 
with just his cape and courage and 
intelligence, two impermanent but 
important works erf art. 

The scene reflected cot only the 
intense emotion possible in this an- 
cient spectacle but also the present 
state of term. Despite a lack of 
fierce bulls mid maser matadors, 
b ullfighting in recent years has un- 
dergone something of a renais- 
sance. Public interest in the sport, 
especially in Madrid, is probably at 

its highest since the 1960s, when El 


The Referendum: 
' Gonzalez Uses 
EC to 'Sell’ NATO 


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(MBA) 




Cl. 


MADRID — First, Fefipe Gon- 
zalez, soon after he became prime 
minister, convinced himself that 
NATO membership was best for 
Spain. Next, be persuaded his gov- 
ernment and then, last December 
in a national convention, he 
•> brought around the ruling Socialist 
' t Party to his pro-alliance views. 
Now, Mr. GonzAlez has to con- 
vince the Spanish j peqple. 

The prime minister says be will 
honor an election pledge to hold a 
referendum that will ask Spaniards 
whether they wish Spain to remain 
in the North Atlantic Treaty Orga- 
nization. Tbe pledge was made 

NEWS ANALYSIS 

when Mr. GonzAlez was opposition 
leader and at a tune when he was 
against the terms negotiated by the 
previous center-right government, 
which allowed Spam to become the 
16th NATO member in the sum- 
^ raer of 1982. 

? Public opinion in Spain appears 
to be running strongly against con- 
tinued NATO membership. Polls 
consistently show about half of 
those polled to be in favor of with- 
drawal from die alliance and less 
than 20 percent' in favor of mem- 
bership. The weakness of the 
pro-alliance platform is such- that 
opposition politicians, business 
leaden and political analysis have 
argued in recent months that Mr. 
GonzAlez w01 opt for early elec- 
tions and avoid staging the plebi- 
scite. 

Mr. GonzAlez has not set a date 
for the referendum but he has indi- 
i^caied that it wiD be held in March 
next year and that national elec- 
tions will be held three months lat- 
er in June. In the face of doubts 
over the plebiscite, the prime min- 
ister remains adamant not only 
that it will be held but also that a 
majority of Spaniards will endorse 
what he terms “the government's 
peace and security policy.” 

According to one of Mr. GonzA- 
lez’s senior policy advisers, the 
prime minister’s confidence rests 
on two assumptions: that Span- 
iards as a whole are still ignorant at 
what NATO is and what it stands 
for, and secondly, that they have 
not yet understood his “peace and 
security” package. In a briefing, the 
official expressed his conviction 
that Spain would not leave the At- 
lantic alliance. 

A chief component in the gov- 
ernment's bid to “sdT NATO to 
the Spanish public is the linkage 
between the alliance and the Euro- 
\pean Community. In a television 
'■ interview in May, Defense Minister 
Nards Serra argued that Spam's 
contribution to European econom- 
ic growth, through membership of 
the Common Market, was comple- 
mented by a contribution to Euro- 
pean defense, through membership 
of NATO. 

One of the main arguments em- 
ployed by Mr. GonzAlez three years 
ago when be opposed NATO entry 
was that Spain was still not a mem- 
ber of the EC His keynote theme in 
his anti-NATO campaign at the 
time was that Spain should be 
awarded both the “rough and the 
smooth" in European co-responsi- 
bility — the “smooth” being the 
VCommon Market and the “rough" 
lacing NATO. 

Now (hat the terms of Spam's 
entry into the EC have been ratified 
and that it w01 become a member 
in January, the same argument is 
employed to campaign in favor of 
alliance membership. As Mr. Gon- 
zilez’s advisers see it, the referen- 
dum will be held early next year 
following formal entry into the 
Common Market and as part and 
parcel of Spain's commitment to 
Europeanism. 

Mr. GonzAlez’s senior aides also 
set great store by the “peace and 
security” package. This was an- 
nounced by the prime minister in a 
sia te-of-lhe-nation speech last Oc- 



troops in Spain, Mr. GonzAlez has 
kept his commitments to Western 
defense as loose as possible. 

The Spanish prime minister ar- 

constimie the most dot jaeuTable 
to offer and the best platform pos- 
sible to persuade Spaniards to vote 
in favor of the alliance. At the same 
time, be is putting across the mes- 
sage that main, whether in NATO 
or not, is firmly part of the West, 
that neutralism and nonalignment 
are notan option and that the alter- 
native to NATO membership is 
continued defense dependence on a 
bilateral agreement with the Unit- 
ed States, 

Many Spaniards in public life 
believe that Mr. Gonzalez has set 
himself an impossible task and that 
there will be no significant shift of 
public opinion in favor of the alli- 
ance. Juan Dlez Nicolas, a Madrid 
University sociology professor and 
one of Spain’s most experienced 
pollsters, claims that there is “an 
inbuilt majority" against NATO 
that the pome minister will be un- 
able to whittle away. 

It is because of such public-opin- 
ion indicators that many believe 
the referendum will not, in the end, 
be staged. Put another way, the 
referendum win only be had if a 
pro-NATO vote is assured. Either 
way, Spain win not be leaving the 

aflini-MV* 

—TOM BURNS 



M CONTRIBUTORS 

BARBARA BELL is a Paris-based journalist. 

TOM BURNS, a director of Spanish Trends, a Madrid-based 

monthly business report, writes for Newsweek and The Washington 
Post. 

CARLOS GARC3A-CALVO is news editor of La Luna de Madrid, 
a 2-vear-old Madrid-based monthly magazine on cultural “happen- 
ing^" 

STEVEN J. DRYDEN, a Brussds-based correspondent writes the 
International Herald Tribune's EC column. 

w n .1 JA M LYON is on the editorial staff of the daily newspaper El 
Pais in Madrid, for which he frequently reports on bul l fig htin g. 

VICTOR de b SERNA is editor of Spanish Trends, a Madrid 
monthly. 


tobexand it marked the first public 
admission by h im he had 
changed his views on NATO and 
now favored continued member- 
ship. 

The three chief dements in the 
package are that Spain would re- 
main nuclear free, that it would not 
bea member of NATO's integrated 
military command structure and 
that there would be a reduction of 
the US. military presence as a re- 
sult of the Madnd government's 
d efini tive alignment within the alli- 
ance. 

Spain’s non-nuclear status had 
been resolved by a parliamentary 
vote at the time of (he 1982 entry 
into the affiance and the decision to 
remain outside the military com- 
mand structure was made by Mr. 
GonzAlez in December of that year 
as soon as he look office as pome 
minister. The surprise dement in 
the package was the link between 
NATO membership and the U.S. 
militar y personnel m Spain, num- 
bering about 12,000. 

In early May, when President 
Ronald Reagan came to Madrid 
daring ins European tour. Secre- 
tary of State George Shultz and the 
Spanish foreign minister, Fernan- 
do MbrAn, agreed to initiate an 
overall review of the Spain-U.S. de- 
fense agreement focusing on the 
base facilities afforded to the Unit- 
ed States and on U.S. troop 
strength. The defease accord, 
Which dates to 1953, was last re- 
newed in 1983 and is due to be 
renegotiated by 1988. 

Mr. Gonzalez has not 
the redaction thaj. he is seeking nor 
whether it will invave the 'closure 
to the Umted States of one of the 
four bases where it currently enjoys 
facilities. The fact that talks over 
reduction are. on the U.S.-Spain 
agenda, however, constitutes some- 
thing of a diplomatic coup far Mr. 
GonzAlez. The linkage between 
these talks and continued NATO 
membership is seen as a powerful 
argument in favor of the amance in 
die referendum campaign. Voting 
in favor of continued NATO mem- 
bership eff&tivdy means voting in 
favor of reducing the UA troop 
presence. 

The pro-NATO package pre- 
sented by Mr. GonzAlez was re- 
cently characterized by a Western 
ambassador in Madrid as “NATO, 
yes — but.” With a ban cm the 


Cordob&s was the rage. Suddenly, 
it is fashionable to be an aficiona- 
do. 

“Until recently, the bulls were 
something yon associated with the 
previous generation, with which 
you were m conflict,” said Andres 
de Miguel, a 32-year-old sociolo- 
gist. “Bui now many young people 
have discovered the aesthetics of 
bullfighting, rhai it is totally differ- 
ent from any other spectacle." 

With the coming of democracy 
10 years ago, and with Spain’s sub- 
sequent entry into the North Atlan- 
tic Treaty Organization and, most 
recently, the European Communi- 
ty, there were concerns that bnO- 

NcHVwb^men have walfaE^tra 
the moon, is there any interest in 
watching another man, dressed in a 
“suit of lights,” loll a bull with a 
sword? 

The answer would seem to be 
yes. The San Isidro fair, like eariy- 
season fights in Valotda and Se- 
ville, was sold out virtually every 
day. It was one of the best fairs in 
recent memory, and tins has gotten 
people talking about bulls again. 
They may soon even be betting on 
them, if the plan goes through for 
bullfight “pods,” modeled on soc- 
cer betting. Aficionados would wa- 
ger on the number of ears awarded 
to a dozen matadors on any given 
Sunday. Wlnle many aficionados 
feel this would be a sacrilege, the 
system's backers see it as an impor- 
tant way to promote the fiesta. 

Pan of the renewed interest 
i stems from the death last 
- — “from horn wounds 
and medical attention" 

— of Francisco Rivera, biown as 
“Paquini,” one of Spain's most 
popular performers. Virtually the 


whole country saw the gruesome 
film, played and a g ain on 
tdevision, of me matador on the 
operating table a few hours before 
he died, calmly reassuring the doc- 
tors and describing for them the 
nature of his wounds. His death, 
approaching a national tragedy, 
made many Spaniards examine 
their attitudes toward this impor- 
tant element in the Iberian psyche, 
and many found they were fasci- 
nated by the bolls. 

Much of the renaissance has 
been stimulated by the media, espe- 
cially in Madrid. During the fair, 
the important radio stations broad- 
cast bulletins from the ring and 
long reports on each day’s fight, 
and the capital's five daily papers 
ah devote several pages to expert 
analysis. 

Same of the writing is done by 
Spanish intellectuals, who have 
taken a renewed interest in the fies- 
ta. “Bullfighting rives them a 
chanc e to draw off, says Mr. de 
Miguel, who said that these writers 
usually approach the fiesta 
“through its ntes and liturgical ele- 
ments, which is a sterile approach.” 
Manuel Arroyo, head of the noted 
Tinner publishing house, which has 
recently published or reissued a 
□umber of important works on 
tauromachy, is even more critical 
of these intcBectuals — “many of 
whom rarely go to the plaza” — 
calling much of their work “lamen- 
table.” 

But he said that there was a 
healthy public interest in the “artis- 
tic" bullfighters like Aniohete, 
“those capable of creating great 
beauty through the depth and grace 
of their movements," as opposed to 
the more journeyman matadors. 

The traditional structures of (he 



fiesta have been affected. A half 
dozen rides have recently estab- 
lished bullfight schools to give tal- 
ented youngsters training and op- 
portunities to fight. In Valencia — 
and perhaps next year in Madrid — 
the regional government has taken 
a greater hand in organizing corri- 
das. Joaquin Legnina, president of 
Madrid’s autonomous government, 
said the fiesta is “a public service" 
that his government has a duty to 

maintain 

Of course, not everyone in Spain 
is an aficionado. “The trendy peo- 
ple are always ‘discovering the 
Mediterranean’ from time to time," 
said Rosa Rivas, a Madrid journal- 
ist. 

The state-run television system 


Manuel Vincent, the most prom- 
inent intellectual against bullfight- 
ing, regularly publishes tatter dia- 
tribes against the spectacle, and 
there was even recent newspaper 
advertising for something called 
the Association for the Rights of 
Animals. 

But these are marginal manifes- 
tations, exercises in Spanish pro- 
test. A better indication of the 
mood was given late on the night of 
Antofiete’s triumph, when hun- 
dreds of aficionados, many of them 
newcomers to the fiesta, crammed 
the Grculo de Bellas Aries in Ma- 


drid to hear the critic Alfonso Na- 
val6n give his regular review of the 
corrida. 

Highlights of the afternoon were 
projected onto a large screen, and 
with each long, slow elegant pass 
the fans roared de. with almost as 


much intensity us they had in the 
ring. The meeting broke up well 
past 3 A.M., and still men stood 
outside in the warm night air — 
arguing, giving their own passes to 
imaginary enemies, caught up in 
“bull fever." 


The Sun also sets. 


I f all you want on your holiday is 
sunshine, you're too easily satisfied. 

You're also fortunate, because the 
world is* full of places, some nice and 
some quite nasty, dial can give you 
what yon seek. 

But what wiU you do when you've 
had enough son? 

And wind win you do when it sets? 

A holiday should be a pleasure at any hour 
you favour, under the son or the stars, in your 
choice of landscape, whether you're active or 
sedentary, culture-maided or hedonistic. 

If yon agree with ns, and want your holiday to 
satisfy all of yonr senses and senabflities, read on 
about Spain. 

The mountains or the shore? 

Spain has plenty of both. 

Our mountains, among the highest in Europe, 
offer some of the world’s best and least crowded 
skiing. There’s great dirabing, too, and every other 
mountain sport in season. 

As for the shore, take your choice of beaches 
from nearly 6,000 Km. of coastline; 

Have a great Spanish holiday at sky level or at 
sea level. 

It’s up (or down) to you. 

What if you sunburn easily? 

Spend part of each day indoors. 

In shops, for instance, selling choice leather, 
lace, porcelains, antiques and art. 

Or come indoors to see things money 
can’t buy. In the great museums of 




regional wines keep them perfect company. 

By the time you’ve savored the last of your 
Spanish brandy, you will have had a late night. And 
the fun is only starting. 

Enjoy our longest, latest nights. 

At Spanish fiestas, the party seldom stops until 
sunrise. 

And at many, not until two or three sunrises 
have passed. 

No matter when you come to Spain, you will 
find a fiesta somewhere. There are literally 
hundreds throughout the year. Some are simple 
Saints’ days in little village squares. But these are 
often wonderful for their intimacy, the welcome 
given to strangers and their sense of natural, 
unplanned gaiety. 

Others are spectacles, elaborately staged and 
wardrobed. See processionals, mock battles, floral 
decoration competitions, wine harvests or solemnly 
impressive holy days. Or watch the breaking of wild 
horses or the showing of exquisitely trained horses. 
Or see the running of the bulls at the St. Ferrnrn 
fiesta in Pamplona, made famous by Hemingway. 

,M «3jg 


Speaking of rooms... 

Spain offers every kind of accommodation, 
from simple country inns to world-class deluxe 
hotels. 

Some of our most modem hotels are in 
some of our most andent buildings. Many castles 
and other historic landmarks have been 
converted with ingenuity and elegance, 
fc featuring art and furnishings of their periods. 
Interestingly, even our newest and most 
fashionable resort hotels use traditional Spanish 
architectural themes and decor, so you never 
have that modem sense of deja vu found in the 
usual “international” resort. 

We have heard that one young woman, 
asked where she went on 
her holiday, replied 
“I don’t know. We ^ 
flew." Never 

in Spain. -dSSlSi 



Spain are displayed troves of priceless treasures. 

Or stroll in the shade of castles and palaces, 
mosques and alcazars. 

Spain has thousands of ways to tempt you in, 
out of the sun. 

What happens after sunset? 

You understand a people when you understand 
how they eat. 

Not just the cuisine, but where, how, when and 
with whom it is enjoyed. 

We start with “tapas”, snacks in amazing 
variety, eaten at stand-up bars at eight or nine 
in the evening. Thai’s the time to meet us and 
make new friends, in the hours before dinner starts 
at ten or eleven at night. 

Then you can maintain the informal note 
or go to dress-up places serving haute cuisine 
as splendid as any in Europe. As for us. we love 
seafood simply prepared, and even hundreds of 
miles inland you'D find it fresh daily. Our regional 
dishes are so varied that you might think ihey come 
from many-counirics and cultures. And our_ 



Every fiesta is a party, and you’re invited to 
them all. 

What's to do at night between fiestas? 

If night clubs, casinos, ballet, opera, jazz, folk 
muse, discos, rock music and flamenco dancers 
don't interest you, there really isn’t very much. 

Perhaps people-watching at an outdoor cafe 
.while sipping a rare sherry might catch your 
' imagination. Or you could just go to your room 
and read a book. 


This long ad is far too short. 

If you’re interested in visiting Spain, there’s 
much more you’ll want to know. 

Such as details chi your personal interests. 
Where you can golf or charter a boat or hunt for 
game, for example. Or how to follow the route 
of Don Quixote. Or where the Paradores, our 
national tourist inns, are located. 

We have booklets and brochures on practically 
everything. 

Visit your nearest Spanish National Tourist 
Office or mail the coupon below to tell us what 
you’re interested in. 

Whatever it is, you’ll Find it in Spain, where 
there’s everything under the sun. 

r- — — — — — -i 

Secretaria General de Turismo 
Maria de Molina, SO 
28006 Madrid. Spain. 

Please tell me where I can find everything 
under the sun. 

Name 

Address 

City 

Country 

I am interested in : 



C5rtS/l 

Spain. Everything under the sun. 




Vi.* 

- , 

%*■# 








Page 12 


INTERNATIONAL HERALD TRIBINE. THURSDAY, JUNE 20, 1985 


ir ^ 


NYSE Most Actives 


Dow Jones Averages 


NYSE Index 


HW Low LOST OW. 


Wfednesda»% 


AMEX Diaries 


NASDAQ Index 


AMEX Most Actives 


41* 40* 
31* 31* 
34* 23* 
02* 01* 
15 14* 

120* 119* 
47* 

10* 15* 

47* 47 
71* SI* 
23* 22* 
XV. 29* 
38* 37* 
30* 37* 
92* 91* 


40* — * 
31* - ft 

a* — % 

S2VH + % 
14* 

119* — * 
40 * — * 
15* + ft 
47 —VS 
21 * — * 
23 + * 

20 + * 
38* + * 

30 — % 

91* —VS 


Indta 1304J7 1JI2T2 T29307 T297J8 — MJ 

TPOfW 043.14 444.10 636-S* 6»2« — *■» 

Uni 16542 14601 10614 iMX — 

Comp 53906 54205 33417 *>659— 1» 


Praeicu* _ T#W 
Hip low CM* 7PM. 
CbmpoaHe UUO IMS 10SJS 10677 

Industrials 12257 1 204 12217 12217 

Tranm 10414 10*19 10494 1X4* 

UIU1H6S »0 a 9J0 I 5914 4001 

Finance 110.12 11730 IU1 U8JM 


MSE 

Qosb^ 


Advanced 
DKlbwd 
unchanged 
Total tans 
New Hub 
N ew Lows 


270 S3 

239 244 

251 257 

7« 77* 

31 2* 

15 9 


Composite 

Industrials 

Finance 

insurance 

UtlUNss 
Bento 
T TORSO. 


SEES a* 

25702 »M 29054 
93% 29*31 »W3 

77625 — TM-Jlj 

sa = ss? 


VK. KWl LOW Ltof CO* 


BAT in 
WU»B 
TIE 

Trirwts 


NYSE Diaries 


1MM 4* 
03* 14* 
347* 4* 

32*5 2 

2321 II 
TOM l« 
M07 **■ 

1443 19* 
1*49 11 W 
1373 14H 
1209 1* 
1101 19* 
991 IT* 
971 33* 
*27 29* 


A -It 
IMS 

10* — % 

i 

w* — * 
nu + % 

19* +■ *• 
IT* +16 
33* + * 
29* + * 


+" r . 




Odd-Lot Trading in N.Y. 


dose Pro*. 


Dow Jones Bond Averages 


Bontb 

Utilities 

Industrials 


Advanced 
Declined 
Unchanged 
Total issues 
New Htons 
New Laws 


>14 1000 

794 *14 

422 447 

2630 20*1 

U4 150 

25 32 


ow Sales *strrt 

Jim* IB 206229 <31092 1071 

June 17 ■ 216743 4050*0 BOB 

June 14 189014 385039 7090 

June 13 — 207J193 4*6004 1049 

June 12 201034 42S0U 2014 

'included m the saies.daures 


VolallPiL JUTMOfl 

P«*.3 PJLnk HtSMW 

Prev amoBdated dose 129083040 


Standard & Poor's index 


AMEX Sales 


Tobies tsdwto me nationwide prices 
up to the doting on Wail Street and 
do not reflect Me trades elsewhere. 

Via The Associated Press 


Previous Todar 

Hiah Law Close IPA 
industrials 20691 02501 20645 20639 

Trans. MSX 14614 145J» 1*640 

UHlIHas 8772 >6*3 87.14 8704 

Finance 0251 2X72 2X91 2X57 

COrtloaelle 18705 M651 18704 18708 


3 P-M. volume 
Prev. 3 P06- volume 
Prev. cons, uohltne 


AMEX Stock index 


*r. 


prevtaos _ 
low Dose 
. wn; 3638 


12 Month 
Hloti Low Slock 


S&. Cion 

Ply, d* PE 100s Hloh Low Quot. Owe 


New York Stocks Turn Mixed 


IS Month 

I Hluft Low Stock 


Sfa. Cknc I 12 Month 

Plv. Yld- PE 7QteH>ghLorrOuotCh-po| High Low Stock 


Dlv. Yld. PE TOthHlBh Low Quot Ch-pe 


2,7 12 T S IS* !» to + * United Pros Intermdanol 

50 X7 V 4«l 18* !e* ]£S- * NEW YORK — The stock market 
v re 35M «% 4m* 4«— % mixed late Wednesday in active trading, 
'll la* Isa x 14 ?9 20 + % The Dow Jones industrial average was 
00 40 £ JR s£S sSi=S 0.78 to U03.98 shortly before 3 P-N 


23% 1* AAR .40 27 14 100 18* 18 18 — 16 

18U 9* AGS 12 45 13* 13* 13* + * 

161* m AMCA 119 70ft 10* 10* + U 

?1% IP. AMF 50 20 56 4098 10* 18* 18ft— * 
0V* J«* AMR 10 3546 45ft *Hb 4« — * 

23* IB* AMR pi 618 90 10 Zto 22ft 22* + ft 

3 19 ANRpt 2.12 100 1524 M 19 20 + ft 

14* 7*1 APL 17 8* 8* J* — ft 

61 V. 44* ASA 200 40 388 SI* 58ft 50ft — * 

27 12* AVX 02 25 10 301 13 12ft 12* 

24"* 16 AZP 2-72 10J « IMP 24* 24* 34*1 + ft 

S7to 34* AMLOfa IX 25 <6 2373 57 54* 56ft + ft 

XPs !7ftA«OWda0O 2J 17 37? 22ft 22* 22* 

JMi 10ft AcmeC X 14 40 15ft 15ft 15ft— ft 

10ft 7* AcmcE 02b 40 10 24 8 8 0 

17ft IS AdaE* 1. 92*11 J 40 17ft 17 17* 

M lift AdmMl 02 XI 6 217 15* 15ft 15ft 

19% 8* AdvSrs S3t *3 II 113 lift 10* lift + * 

41ft 22ft AMO 10 10820 21* 22* 23 + H 

i£* 6ft Atnnr .12 10 102 o* b* a* 

14* 9 Acrfle* 13 75 13* I ZW 12ft—* 

47 IT, Ac In LI 204 50 33 2011 44* 45* 45* + * 

57* 52* AetLpf 6790105 3 55ft 55 Sft + ft 

37* 17ft Alums 100 3J 15 2890 37ft 36 36* — * 

3* 2ft Alleen 58 3 2* 2* 

54 38* AlrPrd 100 2J IS 1453 53 53ft 52*— lb 

24* 13 AlrbFrt 40 30 IJ 201 20* 20 20* 4- ft 


United Pros IntemadonoJ As portfolio managers pull their portfolios 

NEW YORK — The stock market turned into shape aithe end of a quarter, they may take 
ixed late Wednesday in active trading. advantage of market strength to sell stocks they 


The Dow Jones industrial average was down tu> longer want, he said, adding that technology 
78 to 1303.98 shortly before 3 P.M. But stocks could suffer more in that case: 


0.78 to 1,303.98 shortly before 3 P-M. But 
advances still led declines by an 8-7 ratio among 
the 1,967 issues crossing the NYSE tape. 
Five-hour Big Board volume amounted to 


If die Fed does not lower the discount rate, 
the market could “go into a lazy retreat” to .the 
1,275-1,280 area, Mr. Peroni said. “That would 


32ft 24ft Emhori 100b 40 10 09 29 

22ft 15ft ErnpOa 106 80 8 34 aft 

5 3 ft Emp Pi 07 90 4308 5 

5 4 Emppf 00 100 250l 4* 

9ft 7 Groept 01 10* 200= 8* 

ft EflBxc 171 

IS* 23* EootCp 02 30 9 278 25* 

n 10ft EliMlI 0* U 13 291 3BU 

27* 17ft Enierch L40 63 17 13» 25* 

54* 51ft Etndipf 615»1U 340002 55 

21* 20ft EnsExn 00* 20 127 30* 

2ft 1* Enwra 22 405 2 

17ft 9* Entoro 28 10ft 

20 IP* ErrfxE n 20SsU0 182 17ft 


•55 5 33ft 19* PtorRCpflSO 40 


* J*¥* *15 5 19* 16* Kirnno 


2 31* 3!* 31*— ft 


U 320 19* 19 


2S0z 4* 4* 4ft— ft 
2SQz 0* 0* 8*— * 
171 Vh * 

270 25* 25ft 25ft 
293 3SU 37* 30ft + * 
074 25* 25ft 25ft— ft 


+ 5 1 49* 29ft MorslW 100 Zl 13 448 45ft 44* 45ft + ft 


10ft 5ft HeMton 12 «ft 4ft + ft 

13* 9 Has* Pf 22 12 12 « 

44ft 31ft HOWtPh 02 0 15 5235 X M + i* 

30 20* Haxcaf 00 24 14 3* »4 »ft ft 

23* 12ft H [Sheer 00 22 14 15 22* 22* 22* + * 

13* 8* HIVOH .17 10 0 112 HU 10ft 10*— ft 


15 55* + ft 24* T7* HJtnbrt 04 24 13 


]£ *2* ^ ^ j. u. 734,1 45* Hilton 
^2 iL. JS ™ + H 37* 27* HllBCW 
IS ™ J. u. S7* 35ft HolWor 
182 17* 17* 17* + ft rail, a* HiHIvS 


22* 22*— * 


EnMKln 100 7.1 10 114 10ft 18* IMA— ft V* 12 


about 91.I65J200 shares, against 90.230,000 in be the ideal buying point,” he said. 


the period Tuesday. 

Prices were mixed in active trading of Ameri- 
can Stock Exchange issues. 


Utilities were active. Bell South was near Lhe 


3ZD) 17* EqtftX* 1.14 II 17 
<* 2ft Eoubnfc 
1ft * Equmkrl 
20ft lift Eomkpf 201 120 
49V, 28ft Eg! Rat 102 40 7 


17 30* 30ft XM 
1325 Jft 3* J* + ft 
2261 I * * + ft 

21 tfft 18 10*— ft 
342 44ft 43 43ft — 1* 


73ft 45ft Hilton 100 29 14 323 *4* 43 £ —1ft 

37ft 27* Hltoetn 03e 1.1 10 1002 ®ft 26* 29 - ft 

ST* 35«. NolKJcv lb U 11 199 53* D* StT £ 

83ft 50* HtHlvS 100 10 U 28 7BV. *9ft *9* + * 

27* 12 HonwD 20 *06 14* 14 14 — * 

24V, II* HmFSO 0 3474 24* 24* 2*M 

9ft 7 HmpGpfLK 120 59 •* I? 

20* Hmslko 00 0 58 1313 25ft 24* 24*— * 

Bft Hm-JFn .40 20 5 138 IS IS.. 15 

40ft 43* Hondo 0OB 0 TO 574 53* 53* 53ft f ft 


top of the active list and off slightly. Southern 
Company and Commonwealth Edison were 


J££ 22 5,12 S ,45 ISi + 12 5S S* iSS” u 1“ 3?S £* ^ »* +ift 

Ifii .2* ErOnwO -30 24 15 330 12ft 12ft ]Tft— ft I m 19ft. HnRBn 1.12 13 t0 1» 28 29* 29* + ft 


3* 2* Alleen 58 3 2* 3ft 

54 a* AlrPrd I JO U 12 1453 53 52* 52*— ft 

24* 13 AlrbFrt 08 30 19 201 20* 20 20ft 4- ft 

2 1 Al.woo* 53 1ft 1* 1ft 

20ft 21 AlaP Pi 2.92*100 440 28 27ft 28 + ft 

33* 2*ft AlaP DtA 3.97 120 12 32* 32 32ft + * 

8 4ft AlaP dal 07 169 50 8 7ft 0 + ft 

79ft 61ft AlaP Pi 9JM 110 3501 79ft 79 79 

103ft 85ft AMP Pt 1100 169 lOOziai 101 101 

■Aft lift AbtMC 104 60 9 34 15* 15ft 15ft— Ml 

25ft 9ft AlSkAlr .16 0 10 1040 24ft 24 24* 

18ft 10* Albrto i 0 U II 13 14* 14* 14* 

33ft 23ft Alfatvii 04 2A I] 173 31ft 31* 31* — * 

31ft 23ft Alcan 100 49 12 2534 34ft 24ft 24* 

37ft 27* AlatStd 108 30 12 40 34* 34* 34* + ft 

32 17 AteiAI. 100 30 400 30ft 30 X — ft 

24ft ro* Ale Mir 21 54 23* 23* 23* + * 

59ft 72ft AIIbCp £041 25 25 17 81ft 81 81 — ft 

26*. 23ft AleCp p| 204 100 lA 24* 24* 24* — * 

28ft IS ft Ala Ini 100 50 228 24ft 24 24 — * 

20* 15ft AIO In pf 119 100 8 20* 20ft 2D* + * 

«8 81* AW PIC U0S 110 24 97 94* 94* + ft 

34* 24* AIIOPw 200 7.9 ID 1145 34ft 33* 34* + * 

23 "4 15ft AllenG 00b 30 14 877 19ft 19 19 + * 

44ft 28ft AlldCp 100 4J 8 1820 41ft 41* 47* 

44 53»b AlflCp pt 404 10.4 110 *4* 64* 44* 

113ft 9V AMCppHiOO 105 2 1 10ft 110* 710ft + ft 

104* iGOft AldC pi I20lel20 140 102* 102* 102* 

23* 15ft AllOPd 16 8 17ft 17* 17ft 

5** 40ft AlldStr XIX 30 0 2453 54* 54* 54* + * 

12ft 5ft A1l*Oi 144 S* 5* 5ft— ft 

347( J« AJIsCpI S 34ft 34* 34ft + * 

29* 20 ALLTL 104 40 9 181 28 27* 27* -4- ft 

397) 29ft Alcoa 100 30 14 1771 32ft 31* 32 

2ft 15ft Amo* 00 IJ B53 15* 15* 15*— * 

40 fi* Arran pf 300 00 4 34* 33ft 34* — * 

34 22ft AKlHn 1.10 61 19 1544 27* 34 24ft + * 


Analysts said stock prices bad been buoyed also off fractionally, while Niagara Mohawk, 
by the belief that Thursday's report on second- Cincinnati Gas & Electric and Boston Edison 


VS MSSSt -2 25 g “ 13 £ ™— £ 5* 19* K^an 1.12 V W 124 28 

? SS 25 Su.~ it Z™ 3 M H rzfln pf 204 b1O0 97 27* 

ZBVt IB** ELssexC XOa 3-0 U 5 26% 26^ 2M — Vk 714 m lwitmi im 4 

— m J2 44 19 335 IM IM MW— M »omon um 


a? S2 + * quarter gross national product growth would were up marginally. 

5a I* 1* I* AT&T was up a fraction. 

« T* T^Jft Although prices m tables on these pages are from Amencan^txprKS was m 

", ” the 4 P.M. close in New York, for time reasons, IBM was htlle changed. 7 
Sf^is* isft is* — * this article is based on the market at 3 P.M. was , r f^ u ° D ^, purchase 


400 30 1 - 30 3C — ft 
54 23* 23* 23* + * 
17 81ft 81 01 — ft 

lA at* 26* 24* — * 
228 24ft 24 24 — * 

8 20* m 2D* + * 
24 97 94ft 94ft + ft 


American Express was marginally lower. 
IBM was Utile changed. The company said h 
was reducing the purchase prices for selected 
models of its large processors and intermediate 
system computers. It also introduced a new 

+ * show that the economy had slowed sufficiently processor and three new work stations. 

+ * to compel the Federal Reserve to ease credit RCA was off slightly. Its Hertz unit wiQ be 
Z * conditions. sold to UAL In cl, the parent company of Unit- 

— ** Before the market opened, the Commerce ed Airlines, for SS87J million. UAL Inc. little 
+ « Department reported that personal income fell changed. 

+ * 0.5 percent in May. TWA was unchanged. Its three major unions, 

“The street is Imping that if the ‘flash' esti- fearing cost-cutting moves by Texas Air Coip. if 
* u mate of second quarter GNP comes in at 15 its planned S925-miIlion takeover succeed, have 
+ percent or lower, the Fed would have (o take formed a coalition to prevent Texas Air from 

— * fairly prompt action and lower the discount rate gaining control Texas Air had lost a little 
t £ another notch.” said Eugene Peroni of Bateman ground. 

_ w Eichler, Hill Richards. Auto stocks weakened. Chrysler may sign a 

-£ Mr. Peroni said investors are feeling cautious. $600 million agreement to buy GuDfstream 
+3 A cut in the discount rate, the the interest the Aerospace Coip., one of the world's leading 

Po/l frti* i ■ ... 1 1.1.1 IfM.p l, i, i ... — - .r — _ . . . . . . j r_ , ^ 


31* 76ft Esfrln* 02 4J 10 33S 14ft 16* 16* — ft 

34 10ft EfflVU 04 20 13 1713 23* 2Z* 23ft + ft 

6ft 1ft vlEvooP U »1 2 — * 

9* 2ft vl E van of 15 2* 2* 2ft 

13* 3* vIEvn pfB I » n n 

41ft X EiCMO 102 A3 W 84 34* 34* 34*—* 

17ft 13* Exceisr 106*110 10 17 W* 16*— ft 

54ft 38 Exiran 300 *4 0 4820 S2* STft 51ft— * 


97 27* 26* 27* + * 
7* 3* Horizon 100 4 3* 4 + ft 

48ft 34* HnwCb 00 10 13 *WT 47* 44 44ft + * 
9M Vt UMIn 144 U M 11 28 28 38 



HblriPf *05 70 


15* Houlnd 2*4 90 7 4647 28 


3* 39ft 3*ft 39ft + * 
247 14* 14* 14*— * 
1517 38ft 38 38* + * 

2 54* 54ft 54* +1* 
14 81 79* a 4-1* 


Growing with America’s 
wine industry. . - 


110 44* 44* 44* 

2 110ft 110* ?10ft 9- ft 
140 102* 102* 102* 

8 17ft 17* 17ft 


TAJ* 98* 
1>. 

51* IS* 
TO 53* 
59 'a 24ft 
7D* S 5 
H5 5 aW 
34* 19* 
57* 2O>0 
SB* 40* 
55ft 21* 
51 37 

X* 14ft 
30* 25* 
II 6W 
54* 43* 

zr.-. lBft 

24* 16* 
47* 25 
9i «ft 
351-, 19* 
15* 6ft 
55ft 51* 
96* 58ft 
71ft 40ft 
34ft 25* 
10* 711: 

44*1 44ft 


8 119 116 119 43 

137 tft I* 1ft 
14 21ft 71* 21ft 


14* 99 
20* 74V 
39* 339 
It* ID 
24* 12V 
19* VP. 
X* 23 
28ft 1491 

is n 

4* 4U 
40 299 

45* 31V 
48* 31* 
39 39V 

21 1071 

27 1MI 


XTO SJ 9 1*53 40ft 47* 67*— 1 


2.75 9 0 24 29 29 29 + * 

247 19 1 69 4« 69 

100 10 17 224 111*111*111*—* 
04 30 14 15 25* 25* 25* + * 

04 20 14 2 24* 34* 24* 


Fed charges for overnight loans between banks, builders of corporate jets; Gulfstream’s chair- 
might not be the cure-all some people expect, he man said Tuesday. Guifstream Aerospace was 
said. off slightly. 


04 20 14 2 24* 24* 24* 

Con 2.90 50 II 299 58* 57* SB* 4- * 

Pf 500 110 11 25ft 25 25 

Pf IDO 5.9 17 50* 50 50* + * 

BO 200 100 74 20* 20* 20*— * 

251 c 80 14 29* 29* 29* 

213 6 8* 8* I* + * 

1.90 30 12 3343 49* 48 49* + * 

024023 757 23 22* 22* + ft 

204a 90 9 1607 24* 23* 24 

101 20 1612584 47* 44* 4**—* j 
08 U 14 492 21 20* 20*— * I 

100 29 10 2250 34* 23* 34* + * 

139 14* 1}* 13* 
1604P1I0 32* 53* S3* 53* 

1507b *0 ID 92* 90* 92* +2 

204 09 230 48* *7* *8* +1 

100 30 » 3 34 34 34 — * 

10* 7* A Holst 38 7* 9ft 9* 

AA'i 44ft A Home 2.90 40 13 158* *1* *2* 43 

38 26ft AH05P 1.12 30 11 4339 34* 34 34* 4- * 

92ft 44ft Amrtcll 600 7.1 9 3095 92* 92* 92* + * 

S Tft 52 AlnGrp 04 0 JJ 1074 B4ft HJ* S3* + * 


12 Month 
Hlah Low stock 


SK Close I 12 Month 

Otv. YW- PE 100s High Low QuaLCh'aa 1 Htah Low Stock 


DN. Vld. PE lOOxHlgh Low QuoLQriM 


13ft 10* 
25* 14* 
31* 25* 
61* 43ft 
4* 3ft 
29 21* 

21ft 9* 
5* 1* 

24* 15* 


144 117* AIGPPf 505 4.1 


28* 18* AMI .72 20 12 2550 23ft 24* 34* 4- * 
5* 3* AmMot 305 3 2* 2*— * 

39 lA* A Prase! X .121 0 1040 10* 18* 18*—* 

13-b 5 ASLFlo 4 108 7* 7* 7ft — * 

18* 12ft ASLFI Pt 2.19 IS* S3 14* 14 14 — * 

It. 00 70 9 38 11* 11* II* 

15* 23*: Am 510 100 50 10 258 30* 29ft 29*— ft 

455- 27'- AmStor 04 10 12 520 45* 64ft 46ft + ft 

7Sft 46* AStrpfA 08 5 0 34 73* 75 75* + ft 

57ft 51 ASIr EHB 400 11.9 24 57 56ft 57 -f ft 

24ft 15ft A TUT 100 50 1819848 24* 23* 23*—* 

41* ATATpt 104 80 406 41ft 41 41K + * 


1040 19* 18* 18*— * 
108 7* 7* 7ft — * 


25* 19V. 

37ft 29 
34* 13 
29* 22* 

50ft 26* 

42ft 27* 

40* 27* 

20 15* 

21* 14ft 
2** 23 
59ft 35 
51* 44* 

18ft 11* 

64* 48* 

2D* 12* „ 

7* 1* Bums 
15 3* BufcMPf 1051 


106 100 33 13* 13* 13* + * 

07 30 8 7863 22* 21* 23* +1 

100 50 11 01 20ft 28 2Bft + * 

108 XI 17 3283 40* 40* 40*— * 

15 5 4* 4* 4*— * ; 

108s 60 7 20 27* Z7* 27*— ft 

190 18* IBM 58* + * I 
170 3ft 3 3 

102 50 23 219 23* 23* 23* 

3.12 70 8 27 40* 40* 40*— ft 

207 90 2 25ft 2SW 25ft 

305 110 7 36* 35* 35ft 

00 10 9 128 20ft 29ft 2D*— * 

106 40 14 15B 29* 29* 29* 

108 20 17 699 48* 47ft 47* + * 

100 20 0 278 34* 36* 36ft— ft 


1.7 14 731 30* 29* 30ft— ft 


2.14 11.1 21 19* 19ft 19*— * 

12 IX 16* 16* 14* + ft 
104 60 70 426 26ft 25* 25*— 1 
100 20 0 1769 58* 57* 58* + * 
506*100 71D 50* 50* 50* + * 


04 30 12 399 11* II 


200 *0 10 2945 56* 56* 56*— * 
03 20100 32 20ft 19* 20 +* 


32 2Dft 19* 70 + * 

294 2 1» 2 

23 4* 4* 4*— ft 


41* 30* ATATpf 304 80 484 41ft 41 

4Tk 31* AT&T pt 304 8.9 lit 42 41 _ 

2T* IS* AWdtr* 100 *0 0 *1 25 24* 

12* 10 AWOtpf 105 100 300Z11* 11* 

23* 19* Am Half 200 110 9 216 Zl* 2T 
71* JSft ATrPr 504 00 19 71 70 

17 4* ATrSc IX 15* 15 

86% 40‘« ATrUn 504 60 47 06* 06 

» 24* Amor on 100 4J I J 34* 34 

50 22* AfnCSOs 00 A 23 2430 40* 47 

29* 2V* Ametok 00 30 12 297 23* 23 

27* 10* Amtoc 156 27* 27 

lA 4* Amine 5 54 7* 7 


24* 23* 23*— * 
41ft 41 41ft + * 
42 41* 42 -9* 


21* + ft 


216 Zl* Z1*fc Zl* + ft 
19 71 70* 79ft + * 

IX 15* 15* 15* + * 
47 06* 06ft 86* + ft 
3 34* 34* 34*— * 
430 48* 47* 47* + * 
297 23* 23 23ft— * 

156 27* 27 27ft 
54 7* 7* 7*—* 


31* X* CBI in 100a A1 11 IX 23ft X 23 — ft 

122 68* CBS 300 25 30 8145 119*118 110* +1* 

8* 4ft CCX 9 66 5* 5* 5*— * 

57ft 27 CIGNA 200 4* 69 1832 57ft 54* 54ft— ft 

32* 23ft CIGpf US 80 3BS 32ft X 32ft 


32* 23ft CIGpf 275 80 
51* 50* CIGPf 4.10 00 
7* Zft CLC 
54 71* CNAFn 

11* 8* CNAI 100(000 

44* 35* CPC Int 220 49 
23ft 14ft CP Nil 100 60 
22* 19* CRUM' 207* 90 


Com pgr 00 20 9 70 

CompSe I 434 

CptWT 44 7373 

ConAD s 07 25 16 420 

Conolr 040 10 13 102 

CamE 100 17 9 9 

CnnNG 200 82 9 39 

Conroe 00 30 * 78 

Con£d 200 60 I 2194 

Core Pf 405 100 4107 

ConE J* 500 117 15 

CraPrts 1.10 30 II 159 

oohG 203 sj 9 an 

Coni Pw 16 4039 

CnPpfA 4.16 130 2001 

13ft CnPpfB 400 130 230* 

23% CnP crtD 705 U3 97fti 

53* 25ft CnPpfE 772 147 40Qi 

53* 35 CnPpfG 776 140 Kz 

2B* II* CnP prV 400 15* 319 

24* 9ft OnPprU 300 150 54 

25* IDft CnP per 371 150 X 

54 25* CnPpfH 70S 15.1 143BZ 

27 lift CnPprR 400 155 45 

25* 10* CnPpcP 308 150 13 

26* 10ft CnPprft 306 152 14 

lift 7ft CnPprM20O 147 2 

16ft 7 CnP prL 3L23 145 9 

27 11 CnPprS 402 155 17 

17* TV. CnP pile 203 141 42 

47ft 23* ClitlCP 100 60 Zl 1440 

10* 4* Conti 1 1 59 

4ft ft Contllrt 303 

4* * CIIIHdn 2*4 

Cntlnfo 9 135 


25ft— ft 
168k + lb 
13* +1* 
35ft 
34* 

18ft— ft 
29* 4- * 
13ft 

37 — * 
46* +1 
49 — ft 
31*— * 
43*— * 
7* + ft 


53*— ft 
23* -f* 


■ ■ ■« — W 

SVft 


r — * 
+ * 
17ft + ft 

V 

%-t 

lift—* 
32 + ft 

s!£-* 

24ft—* 

S5 + ft 

34 — * 
11 * + * 
4Bft + * 
45 -ft 
74 —ft 

19* + * 
50* + * 
21 -ft 
45* -2 


£ 50ft Amoco 308b 54 f 38M 60* 59* 59*— * 
UK 26* AMP 72 20 It 3102 29* 29* 2916 + * 


UK 26* AMP 72 20 

•4 11* Ampco X 20 
X* 13ft Am rap s 
33* X'« AmSIh 100 42 


72 20 It 3102 29ft 29* 29ft + ft 
X U 15 289 12ft lift lift— ft 
9 29 19 18ft lflft— ft 

00 42 9 191 33*33*33* + * 


43* 25ft Anoled IX 40 13 141 40ft 40 


27ft 18ft CSX 

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24* 16* Anioo 1 17 312 19 

30*. 19'. Anchor IX 50 992 2* 

j£ft 25ft AnCtov IX 30 32 551 X 

12ft 9ft AndrGr X 10 14 X 11 


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53* 32ft CclFdpf 475 90 


13ft 9ft AndrGr 
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X 30 32 551 X 37ft 37ft— ft 

X 10 14 X lift lift lift 

X 20 13 140 23* 22V 23 

12 2593 31ft 30* 30* + * 


47ft AntHiu Of 300 55 


»* 13* Contra 75b 
17* 11* Ccmml .12 
26* 15ft CRLkS X 
.7* 3 CnraRg .161 
14* 9ft CpRpffl 2X 


00 410 51* SHk 51* + ft 

73 2* 2ft Zft— ft 

16 54 52* 52* 52* + ft 

100 37 11* lift 11* 

49 11 546 05 44* 44* + * 

42 9 105 22ft 27ft 22* + ft 

94 370 22* 21ft 22 + * 

, . 43 I 3« » 24ft 24ft 

7-M 47 1 IX* 148* 148* -S 

10 II 29 32ft 32ft 32ft— ft 
•9 • 87 I* 8 8 

02 10 9 130 26* 24* 24*— ft 

14 4664 14* 14ft Mft + * 

10 9 584 25 24ft 24ft—* 

90 85 S3* 52* 52* — * 

10 1*1 10* 17ft 17ft—* 

.9 24 13ft 13* 13ft— * 

554 21* Zl* 21ft— * 

143 316 3* 3ft 

3 9* 9ft 9*— * 


_ ContTel IX 70 9 1317 

38* 24ft CtDoto 72 19 74X 

33* 25ft Comwd L10 30 12 322 

3V. 1 vlCocJtU 116 

35* Z7 Coopr IX 40 14 230 
X X Coopl pi 200 70 178 

30ft 13ft CaxTr X 2.1 8 41 

■a IS Ccoovti X 10 17 25* 
1£4 lift Copwfd M It 4 

25* 19ft CpwldPf2X 117 2 

27ft 17* Cordurt M 15 14 X 

15ft 10ft Corelli X 40 11 31 

42ft 30ft Cornea IX 37 17 174 

a 24* core* IX 27 88 

77* 44* Cox Cm X ' 0 23 1» 
10 4ft Crely 154 

30* X Cron* 100b 40 TO 133 
03* 41 CrnyRS 17 359 

1** 15* CrekMPl2.ll 110 48 

49* CrckN Pf 179» 20 347 

18ft CrmpK U0 57 11 73 

34 ft CrwnCk 15 257 

27* CrwZel IX Z4 15 078 
43* CrZMpI *03 97 157 

50 CrZel PfG4X 70 22 

17ft Cullnef a 30 492 

60ft Cum EP 270 34 3 1933 

■ft Currlnc 1.100100 83 

30ft Curiw IX 30 14 17 

27* Cvctapa 1.10 27 io 14 


76* 56ft Cpmsc 2« U 12 331 75ft 75 


IS* 9* CdPoca X 
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19* 13* Anl.tr X 1.9 16 540 15 14* 14* + ft M 

ft* B'B Arnhem M 0 13 » 10* 10* 10* ] SS r£2( . v? 


444* 15* 15* 15*— ft 
2 21* 21* 21*— ft 
11 6*7 220 218 111 — ft 1 


15ft 10 'V Antony 04b 30 

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5* '■» ApchP *vt 

W» lfk ApchP vraiO 110 

25* J1 ApPw pf 205 107 

23* 77 L ApPw pf 4.10 120 

30* » ApPwPl 100 127 


30 0 2 12* 12* 12*— ft 

2.7 10 170 TO* 10ft 10* + ft 

110 1ft Mk lft + ft 
10 371 19ft 10* 19* + ft I 

07 IS X 36 26 + * | 

20 16 34 33* 23* 

27 12 31 30* 31 + ft 


27* ISHCdpHdi 77 30 10 1154 23 22* 22*—* 


2®"! 17V. AotDto 1761 5.1 19 203 34* 34ft 34ft — * 


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23* 15* ArdlDn .140 0 15 2931 22* 22ft 22* + * 


108* 100* COPHPMO0?S 90 75 MV* 109* 109* +1 

>4* TO Coring o X 37 11* lift lift— ft 

Uft 27* Contain IX 30 10 443 33* 33* 33ft— ft 

2M6 IS* CorpFI X 17 11 IX 23ft 23* 23* 

29* 19ft CorPur 2X 80 0 3853 29ft 28* 27ft + ft 

5* «** CorPpf 207 107 9 34* X* 24* 

£°ET«: HO 50 9 76 36* 36ft 36ft + ft I 

lift 7* CottoI 07 0 13 779 I* 9 + ft 
«* 33ft CorsPIr IX 20 9 3 47 46* 44*— ft 


256 34* 
4 121k 


23 16 

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45* 44V 

32 22V 
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3016 20ft 
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30* 17ft 
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48* 47* 
28* Mft 
39* 25* 
33ft 23* 
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31ft 14* 
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20* 14* 
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_ 39ft HouNG 112 10 

1 17ft 0 HouOR 109nl97 

— Mft 14ft HowICP X 27 

J" J* . j*, 27* 2D* Hubtrrd 2X U 

24* K*— ft 9ft HUff9 X 17 

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!2£ I? 4 ” ** 23* 17ft HugttSe 32 10 11 

S2 liw, ft MV » 21^ Human X 11 1* 

«* iSiZift » 19ft Hunt Ml X 10 17 

? 5575 41ft 23ft HurtEF x 20 - 


45 69* 69ft 69ft + ft 
U 10* 9* 10* + ft 

34 17* 17* 17* 

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19 27* Z7* 27* + ft 


X 20 14 1780 33* 33ft 33* + Vk 


HSlyS 31* 10ft Hydrid 200 40 10 55 31* 311k 311k— * 


27ft 24* +116 
IS* 15ft— ft 
29 2916 + ft 


Ametek’s Valley Foundry 
Division is the country's 
leading supplier of winery 
equipment. 

Write for latest reports to: 


19ft 19ft 
9ft 9*— ft 
5* Sft 
39* 39ft— ft 
42ft 42ft— ft 
34* X +1 
36ft 34* 

2D ft 2Dft— ft 
19ft 19ft— ft 
27 27* + ft 

21ft 21*— ft 
17ft 17ft— ft 
61* 41*— * 
29 29 —ft 

25* 26ft + ft 
7* 0 

3<ft 34* + 16 
5* 5ft + 1k 
20* 71 + * 

26ft 3fft 
40 40 + 1k 

37 37ft 


22ft 1C Ind 104 41 
15ft ICMA 73a 10 
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22* ICNpf 2JD 97 
14 INAIn 172 1115 
23 IPTlmn 77*29 
14ft IRTPr IX U 


104 41 13 73S 
734 10 172 

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102 115 5 


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59* 59* + ft 
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Mft IRTPr 170 00 7 10 

20ft ITT CP IX 37 W 4604 

40 ITT pIK 408 60 2 

44* ITTptO 5X 80 8 

12* lUInf IX 90 2523 

Mft IdonoPa 9 402 

12ft I C-sol D 202 

17ft IllPaorr 204 90 7 4093 

13* tlPOWPf 204 100 200 

23* IIPOMPf 378 11.1 307Q 

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27* impOwn 209e 54 ■ IMS 

Sft ImptCp a 4016 

0ft INCO X 10 4792 

43 IndlMpr 7X 110 SH 

54ft IndIMPf BX 127 280 

M IndIMPf 2.15 115 33 

14ft IntflVPf 225 115 28 

23ft IndIMPf 543 120 21 

20* IndIMPf 275 110 304 

17* IndtGaa IX 77 7 V 

5* Inaxeo 071 381 

1316 InhnlC 31 206 


34* + * 
Mft 

ft —ft 
27ft + to 
MU 

26ft + ft 
19* + * 
30* + ft 

51ft 

59 

13* + ft 
23ft + ft 
12 —ft 
X* + to 
19ft + ft 
94 —ft 
51* 

14ft— ft 


VMETEK 


Dept. H, 

410 Park Avenue, 21st Floor, 
New York. NY 10022. 


12 Month 
High Low Stock 


Dlv. Ykt PE lOOsHMi Lore Oral 1 


35* TngerR 2X 50 14 234 


08 30 11 35 

IX 42 9 20 

475 117 60X 

IX 3J3t4 57 

05 • 0 15 

IX 30 * 012 
406c 94 26 

04 2.1 9 569 
IX 20 14 430 

X 20 14 164 
141 T2J I 

22 279 
14 287 

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LU 77 10 20 
AO 30.15 

02 20 17 195 
00 20 723 

2.30 40 12 25 

100 50 3 4149 
IX 180 50 

IX 27 17 204 

04 10 13 m 

’**u 


173825.1 
X 37 13 
x U 14 
X 2A 5 
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X* 26* — ft 
30* 30ft + ft 
55* 35* +1 
30*1 3D* 

9 9 

37* 30to + * 
47ft 47*— ft 
21 21ft— ft 

3Bto 38ft— 16 
32* 32* + ft 
13* 131k— to 
27* 27* 

22^ + 3 

Mft 13ft + ft 
Oft 5 + to 
17* 17ft— ft 

122 

U* 44ft— * 
13* 13* + ft 


2B IngR Pf 275 60 12 

11 Inai-Tec 04 40 21 25: 

19* irridsd X 27 281 

38* IntdStpf 475 100 41 

14* I Italics 100b 57 11 • 85 

3* IQ5PR3 114 

24ft 11* irtfoRJc 10 125! 

X 19 IntgR Pf 3X 117 305 X* 

35* 25V. IntgR Pf 475 127 ST 33V. 

13V, 7* InJRpn 11 75 11* 

19* M ItcpSe 2.100)07 *3 19* 

78* 55 InJerco IM 47 11 53 46* 

13ft 9* tntrfst X 5.9 6 700 >0* 

S3* 41 intrtk IX 57 7 11 50* 


13* 9* Intriat 
S3* 41 Intrlk 
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30ft— ft 1 
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12ft— ft 
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71 — * i 

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lift 

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25* 19* LuM 1.M 57 13 1043 22 21* 21ft— ft 

32* 24 Lubrai 04 10 20 31 30* 30* 30* + ft 

22* 15* Luckys 1.14 57 12 3399 23* 21* 22 

16 10ft Luknta A0 30 It 32 14 13* M — ft 


21* 15* MACOM X 10 M 4314 lift 17* 17*— 116 


59* Wi MCA X 10 X 

24ft ltftMCora IX 40 6 

14ft 7ft MDC X 27 9 
37* X MlDU 206 70 9 

42 34 MEI X 17 M 

17* 9* MGMGr 04 20 43 

13ft 9ft MGMGr Pt44 14 
IS* 18 MGMUO 70e 10 
4ft 2ft MGMUWt 
2216 15 MB Us TBt 


X 10 U 2295 57* X 56H + * 

40 6 MS 21ft X 21ft +_* .. 

27 9 344 12* lift 12 +ft J 

70 9 X 37 36ft 36* + ft 4f 

17 M 237 37to 37ft 37* + ft 

20 43 302 17 Mft 17 +* 

30 1 U 13 U 4-to 

10 343 14* 14ft 14to 

90 2ft 2ft Zft 
2009 Mft 14* M* + ft 


IS MB Ltd TBt 2009 Mft It* IM + ft 

14 Maanla 05 10 1! 593 34ft 33* 33ft— ft 


400 17 11 1X83 120ft 
A0 T0 11 « 25V. 


30* 23ft IntFtov L12 20 1* 477 

ltto -Sft IntHorv 1163 

7* Zft IntHrat 234 

S2 23* InlHpfC 7 

42 2D* InIHplA 1 

34* IT* IntHpFD 27 

43* 32ft IntMJn 2X 40 11 231 

9 30to lltfMnPt40O 100 I 

22 Intatult IX 55 12 127 

44 IntPapr 200 40 33 526 

916 IntRca .24 34 6 

32* IntNrtt 208 57 0 3323 
IX HdMtpl0a0Q 7.1 10 

Xto InltitpfHOX 107 242 

28* InfpbGP IX 27 M 305 

10ft IntBokr 14 

15ft IntstPw IX 97 9 147 

14ft Iowa El 150 9.1 10 143 

2216 IOWIIG 274 10 0 51 

17 lawlllpf 271 100 20Qz 

25 lowaRt 3X 00 9 7B 

26* IpqVcd 30* 82 9 115 


B-KI 

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so*— ft 
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io* + to 

11916— ft 
2516 + ft 
29ft— ft 
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sSr* 

30* 

Mft 

40ft— ft 

Sees 

43* + * 


IB 11* ModRes 
39* 24 Maoici IX 20 0 
29% 1ft MBIASt HU»C 
23M 12ft Manhln 70b 10 
21ft 13* MonhNt X 17 
■ lift ManrCa .M 0 X 
4216 22ft MfrHcm 370 07 5 
54% 41 MfrHpf 60Sel2J 
Sift 48 MlrHpf 50X127 
Tft Sft wIMonwl 3 

27% 10ft vIMnvfpf 
35% 21 MARCO LOO 20 9 
5 3 Morale 

2ft ft Morale 
38ft 19* MarMJd IX 50 0 


1.14 27 13 1131 SO* 97V. 58%+- 16 


X 11% 11ft lift— ft 
890 40ft 3tft 40ft +1 
294 2Vi 2 2U +' ft 
65 14* 14% 14* + to 
4 M* MU Mft 
93 27* 27* 27ft— to 
074 09ft 39to 3916 — ft 
402 51ft SOto 87* + to 
766 48 47* 41* + * 

393 <to 5* 4 —ft 
■20 19* 1916 19ft 
IX 3516 X 3Sft + ft 
50 4ft 4% 4ft— ft 
162 * * * 

IX 36* 36ft 36to 


39* 14ft Morton > X 0 43 267 3416 35ft 35*— to 


17* 0* MorkC X 12 
10ft 13* Maricpf IX 70 
95ft 44* Marrkd 04 0 


L2 47 10 9* 10 

0 9 15% 15ft 15ft 

0 17 180 93% 93ft 93ft 


9* IpcoCp 34 20 13 
23ft IrvBkt IX 5.1 7 


ill 

36* + ft | 
37ft + % 
12ft + to , 
38* + ft | 


72* 40 MltolM 200 30 20 401 7116 70» 71. + ft 

X 38* MortM IX 20 3784 54* 56 54 — ft 

S 20H MorMwf 4 30 3716 37to— Zto 

BH MOrvK .12 Ml 10 427 32V. 12ft 13U 1 

35* 22% Masco M 10 17 374 3Sft 34* 341k— M0> 

15ft 8 MosaMT X 10 U 781 M* 14V6 M* R- 

X 15% MoaM IX 90 13 115 19VU 19* 19to 

Sft 1ft MosevF 311 2ft 2 2 

29ft 20% MmCp 2X 10UO 34 2916 X* 28ft— ft 

12ft 9* Men Inc IX 100 *7 1216 12ft Mto + to 


44 51* MotaoE 76r 0 18 „ 

15ft 7* Mattel 0123a It* 15% 15* + to 

lift 4* Motel «ft 442 12to 11% 11* + to 

Mft 9% Ma sawn 4 32 15 14ft IS + to 

3«k MnvOB IX 10 11 3» S6to 55* 55* + * 

55% UftMori. 2000 57 11 M 53* 52H. 52%— ft 

31ft Xto Mcorpf 270 00 9 25ft 25ft 25ft + ft 

X* Xto McDrpf 240 KL0 1 25ft 25ft 25*— to 

McDeri IX 77 44 2837 24ft 21% 23ft— ft 

S ssass- 1 - 22 ■ s s 

^ 21,7 ^s^gs-to 

» t 3£6 MOOT* 200 50 13 1264 4816 46* 40 +1 
15% 9ft McLean 9 9 10 9* 9ft 

6% 3 McLeoyrt 134 3ft 3 3 — ft 

29ft 20 McNeil IX 00 7 4 38* 28ft 2814— ft 

St » Mead ix 20 9 64043*42*43 + % 

2«k 13to Marne X 17 12 4Z1 19ft 19* 19*— * 

33ft 24% Medtra X 20 13 lt» 32 31* 31* + * 

Hu 9 1637 53ft 53 53* + * 

28ft 22ft Mellon pi 233 107 1 28 21 30 

S* jWrijj Ids 3-1 14 2SM 47 44ft 44ft + ft 

70 46* MercSl IX 27 II 33 66* 64% 64ft— ft 

'if* ““ 1404 112* 111* Irak + ft 

SL. S* *■ »” » IX 14 17 52 75to 75 75 

3^* ® fl*rt-vr» X 20 22 5709 3116 30ft 30ft— ft 

W* 2 **"«>[ 934 2to 2ft 2to + to 

&SS2S? >09.57 >a T8 a*KS8tT^ 

32 n JmeSc 300*720 7 iSr SI 94 30** af* - + * 


199 57* 57ft 5714 + U 
350 16* 15ft 15* + K 


vrtt 

55* +* 


SS + JS 


47* + ft 

a — ft 

24*— * 

4i*— a* 
18ft + ft 
34ft— ft 
SDft 



73*4513 

If 473a 90 

■ 

IX 17 11 


IX 17 11 141 

71 

UB 73 8 IBM 
2JD 60 3 

270 77 00 

200 107 49 

IX 20 31 943 
X IJ 32 147 
00 4.1 It 208 

X 10 14 47 


I'! 23K ArlP pf 3J8 120 

102 77 ArIPpf IDlTO 1<lb 

33* 14 ArkBlt A0 10 

:4> 14 Ark id IX 50 

to ArtnRl 
>!* lift Armodo 
IS* 4* Armen 

15* j Antic of 210 100 
*’■ 'e-z ArmaRb 40 2.9 


308 120 20 30ft 29ft 29ft— ft 

070 108 3Dx 99% 99% 99ft 

00 10 0 432 22* 21ft 22 + ft 

IX 50 18 4421 Mft lift 10*— * 

21 * ft- 

112 12 12 + ft 

834 a* 8ft 8%— to 
210 100 2 X 20 X 

00 2.9 7 IX 14* 14ft 14*— ft I 


30* 18* CarlHw IX 40 10 111 27* 27ft 27ft— to 


46 20% CartWI X 

18ft 9* GtaCNG IX 
14ft 9ft CcntlCk 

15* CttfCpI 100k 
40* 28* CatrpT X 


27* 16 Coco 


533 39ft 39* 39*— ft 
112 10ft 17* 17*— ft 
442 10* 10% 10ft 
75 23* 23to 23* + to 
1440 33* 33% 33* 

2 14V. 24 to Mto 


115% 42* Celvue 400 01 IQ SB2 108% 107% 108% +1(6 


3V, Ann Win IX 30 4U 744 38* 3M« Uto + ft 


34-» H AroCP 170 4.1 7 

3to 12ft ArowE X 10 9 

Uto 16 Arira 22 .7149 

3ft 14ft Amin l J» 17 8 

if. Hto An. in Pi 200 40 

1!* \-ft Alorcs 

J3* 10* AshlQII IX 4.9 

441. 33* AsnlOPl 450 107 

47'. 31 K Ash lOPl 1*4 90 


X 29* 29to 29V, — ft 

41 13 lift 13 + to 

74 30* 29* Mft — to | 

54 21ft an* 31* + v. 

4 50 49% 49ft— 2* 

*S» 13% 23% 22* + to 1 

742 33 32* 32* + ft 

20 41* 43* 43* | 

13 43 41ft 43 + U I 


44 to 34 Orton pf 400 100 6 4] 42% 43 

M 7ft Cengvn sas A 23 0 tft Sft 8ft 

44% 33 to Cental 278 50 10 282 44V. 43* 43*— * 

Mft 17 Centex n 13 174 25ft 25% 25%— to 

24ft J2* CanSoW 202 7J 0 888 Xft 25ft X + ft 

2?> 17ft CenHud 204 90 6 221 29 3Bft 29 + to 


13* Dallas 04 37 
916 DamanC X 10 
21ft DanoCp IX 40 
5* Oanohr 
8% Dcntoi .IX 10 
23ft DcrtKra 
31 DcrfoGrt 
lift Detent 
Bto DtaDsg 34 29 


9 101 17* 17% 11* + ft 

148 18ft 10* 10ft 

0 789 26* 24* Xft— ft 
18 135 716 7ft 714 + ft 

45 10* 1016 lOto— to 
11 3430 34ft 34 34 — * 

10 1420 33* 37ft 22ft + ft 

984 13 11% 11* 

9 149 0% Oft 5ft— ft 


20U. 14ft Cnl IPS >04 87 10 798 20to 19ft 20 


49 AidDG 2 M 3.9 II 134 44ft 66ft 44ft + ft 


17 73 AsdO Pi 4.75 44 164 107% 104* 107% + % 

7>to Xft AtCvEI 208 89 TO 355 29to 28% 29ft ♦ % 

4Cft AtIRIcn 400 70 27 3394 a 57% 57%—% 

3* K- j AtfRCDt 3 75 9J 200z 30% U% 381^ 

U 9* Aiibc.pt 2JO 20 3 1375b 137% 131% — Ito 


M 32' r AllRcDf 3 75 9J 

553 AtiRtrt 200 20 

IS”: llto AticnCn 

“’i IB* Aucal 00 IJ 19 
49 17ft AulaDt 08 10 21 

s it Avalon n 0 

Mft 15* 6VEMC 00 3.1 14 

Mft 24'* Avrrv 40 IJ 13 

15ft 1C Avkilln 7 

r. 2* Avnd X IJ IS 

55ft IT’k ttto LOO 167 9 

S2** 1?V* Ararn II 


3 75 97 3002 30% UK 3815 

2X L0 3 1371k 137% 131% —IV. 

164 11* nr* l Oft— ft 
00 IJ 19 184 31ft 21% 21* 

40 10 21 *02 48% 40 48% + % 

0 99 4* 4% 4* + ft 

00 3.1 14 12 38ft 20ft 20* 

00 IJ 13 97 33ft 33 33 

7 111 Mto U* 13ft— to 

X I J IS 2594 27ft 27% 27ft + % 
LOO 107 9 3682 Wk 19ft 19ft— % 
II 162 17% Mft 17 — * 


77V. I7ft CnLaCl 2X 77 7 
34 29* CLaElPf4.ll 117 

12* 8* CeMPw IX 11J 6 
20% 13 CVIPS 1.90 90 6 
12% 2ft Central 
11% 7* CnrrvTl x 74 ■ 

M% 18to comrlll 140 1U 9 
20% 15* Crt-teed X 15 13 

34* 16% CmaAir X u 19 

M* 14* Chmptn X IJ 

27* 19 Chmipf IX 47 

54% 43% dim I pf 400 87 


77 7 M 17 24ft 27 + % 

17 5 35ft 35* 25ft + % 

17 6 449 12% 1216 12* + ft 

90 * IX 20ft 20% 20to + to 

» 3 3% 2ft— ft 

74 8 9W lDft 10ft 70%— % 

14 9 a 20ft 20* 2B* 

20 13 79 27ft 27* 27*— to 

IJ 19 4*9 22ft 22to 22% 

I J 1941 22ft 2Zft 22ft + ft 

47 12 25* 25ft 25ft— * 

87 78 52ft STft 52ft— % 


12ft Doreo X 17 10 255 217% 19* X + % 

»to DortHd 74 IJ IS 1819 42 41* 41*— ft 

11* DovtPL LOO 10.1 8 1175 2016 19* 19ft— % 

4516 DPLPI 7X 11J 11 NSz 43 61 *3 +3% 

45 DPL pf 770 727 IDOi 42% 42% 62% 

45 DPL of 7J7 1IJ 70CQ 62% 62% 62% 

21* DcanFd X 10 19 U 38ft 38% U* + to 

24ft Deer* 


IX 14 X 002 29ft 29ft >9* 


17ft DelmP 1.92 77 10 11Z7 26* X 


27 DehoAr 
4to Deltona 


17 0 1851 44% 47% 47ft— ft 
43 516 J 5 — % 


19* DlrOlS .92 27 19 046 39* 38* 


17* Den Ml 5 IX 40 14 
26* DeSafo IX 47 11 


B1 27% Xto 

i7 as* xu 


10. 8 aiomse X 4(4 13 229 Oto 9 9— to 

4ft 1 vIChrtC 184 2to 2ft 2%— ft 

4% IK vlCllri pi 90 Zft 2% 2ft 

41 Wt Chase 3J0 60 4 418 59 Xto a to — ft 

61 52% Oxnr pf A7S 109 1 X X 42 +1 

48% 34ft Chose pi &2S 1IO X 47* 47ft 47* + ft 

Mto 48 ChOMOl 409*127 X 53 S3 S3 — ft 

57ft 51 OtQMrpf 1 200*230 106 52ft 53ft 53% — ft 

34 * Xft Chemed IX 01 14 122 Mft 20* 29ft +lft 


!Cft 1C BMC .171 X lift 10ft II — ft Mft 48 CtlNVpl 

U' t TO Ootmei 00 1.7 13 23 30 30 X + % 55 to 44 ChNY pi 

?.» 14 B»rinll .97 50 14 791 Mft 16% MU 39% 2T‘6 Cheapk 

JJi. 10ft Buinor X IJ II II 20 19* 19ft + % 38* 31% CtaPn 

2'7 ft vIDcIdU Ml lft 1% 1% XT* 77to Chevra 

9 2 vIBIdU pl 8 5ft 5* Sft + * Hto !*% CNWit 

S-; % MV. DoNCp IX 27 13 74 55% 55 55% — to 200 127 ChIMIw 

rj’9 *1'« Dollv.W .30 IJ 3925 17 14* I6K— % «to MK ChlMlpf 

13 9 'ft Bails pk II 10S2 9* 9ft 9* + ft 24* 14ft ChIPnT 

Mto ]■'» DgifGE 340 77 9 1437 46ft 45ft 44ft + * 12 71* ChfcFuD 

> > 2t‘« BncOrW 1.10 37 II 807 Xft 27* 33% + ft 54 Xft ChrtaCr 

5ft 3to DonT f « 190 3% 3ft Oft — % 13ft 5 Qwtaln 

i. 43ft Bandog 123 y i: » U 19% 59* + ft IJ i 9* Chroma 

fTto ?e at. D m 2 40 M I S3 52* Sift 52* + ft UK 23to Chrvelr 

B - « QkBn Pl 4 91c 90 6 51ft 51* 51* 74% 34ft Chubb s 

U% Xto BkNr 204 40 7 257 46* 44* 46ft +1 63ft 50* Chubb pt 

Kto >6 Bn.vo » IK U 10 1 25 31 79ft 31 +1% Xto 13ft Church 4 

?:* 16!; BnkAm 10: 81 10 3219 19 10* 10* 24% 19% Ciicore 

C 43 atvAmaf 5.1 Ml 20 245 41% 4b* 41% + ft 49ft 3Sft cinBeil 3.12 A4 

■I6K ll « Ok Am el 231 IX ISft 15% IS* + % 10 9ft CInGE "" 

S2'i :n BkARtv ;« 79 13 22 3lto 30% 30%—to 33% 24 OnGel 

rsft U Bank Tr LTO L* 7 590 70 M* 49ft— ft 29 Xft CMGpf 

27 19ft DfcTrpf L50 9J 9 Xft 24* 26ft + ft 72* SO ClnGet 

64 35 BkTrpf 4J2 90 I 64 44 44 + % 57% 39 ClnGm 

13 t-1 Bamrr D3e J 16 20 11 15 12 — % 71% « ClnGpf 

S- 19 Bard 44 1.4 IJ 1220 37k 31ft 31* + to 73 a CbnG ert 

14! TO BcrnGP X 10 10 7 22ft 22% 22ft + * 27 19 ClnMH 

4' ft 22 Burnell 10* 17 IX 39ft 38ft lift— % 37 23% ClrctK 


*3% 73% OlmNY 2X 47 6 576 40% X X — % 

43 24 ChNVpf 177 47 1 X X 40 

56* X CtlNVel 409e 00 200 54* 54* 54* + ft 

Mto 46 CTlNY pl 4040 80 447 52ft 52ft 52ft — ft 

39% Jlto Owapk 174 J* 10 56 34ft MU 34*— to 

U* 31% CheiPn 100 SJ 10 9X Mto 33% 34* +1 

*7* 2916 Chevra 2X 47 8 2X7 J6to 15ft J5ft— * 

30* 16% CNWit X 246 19 18ft 19 + * 

"» >77 ChIMIw X 22 132% 732 132% +1 

«to 5J% ailMI pf 7 65% 64* 65% + ft 

24* Mft OUPnT 78* 7 8 31 25ft 25ft 25ft— ft 

12 716 ChfcFull JOT 47 206 61 Oft Bto Bto — ft 

J4. U% CftrtaO- 081 .9 M0S2ft53 52ft + ft 
I3i* L S" 1 **" 25 lift || lift + to 

-P* Chroma 171 549 10% leu. into— to 

«*rv»»r 170 27 3 6277 36 35% 35ft— ft 

74% 34% Chubb s 270 11 16 IX 2016 70 70 — ft 

62% 50* Chubb pt 475 77 XI 61 60* 60* + ft 

2Bto 12ft cnvrctis 04 20 IS 744 IT* IT* 17*— ft 

26% 17% Cllcoro 272 8* 10 til 25ft 25* Sft + ft 


60% DetEpI 500 50 1 97ft 97ft 97ft + ft 

X DetEpI 708 117 1BJU 45 45 45 +1% 

44 DetEpI 7X 127 100=61% 61% 4l%— 116 

19ft DEpfF 275 107 16 25to 24* 2516 + * 

20% DEprR 374 117 71 22% 27V. 37% + ft 

19* DE pfQ 3.13 11 J 141 Xft 26* Xft 

WkDEpfP 3.12 170 35 27 Xto 37 +lto 

20 DEpfB L75 71J 12 X 25 *5 + to 

21V. DEefO 300 12X 74 Xft 281k 38ft 

20* DE P*M 203 1L2 39 28* Xft 08ft— ft 

24 to DEprL 470 127 9 31* 31* XI*— * 

24% DE pIK 4.12 12J 32 32* 32 3256 + to 

94 DE pf.1 1508 117 4 lllto 113 11316 + to 

72% DetEpI 972 107 76000x97% 95V. 97% +7* 

I3to DetEPT 2X 110 13 20% 19* 19*— * 

17* Dexter 70 37 11 242 20* X 20* + * 

9ft DJGkjr 04 42 <7 IS* 15* 15* 

21* DIGiopf 275 77 16 29to 29 39 + * 

15% DtamS IX 107 9 34X 14* 14ft 14* 

3** DtaShpl 400 107 35 37ft 37% 37ft 

37 DftbMl 170 25 10 919 40* 39ft 40ft— 1ft 


170 97 8 1254 17ft 17* 17* 


89* +1 

i% + 2 


JOB 10 225 

100b 37 IX 1638 
10X 97 23 

UM 20 B 6 
i A0 17 12 IS 
13 1059 
178 10 • 191 
220 XJ 12 7054 
25D 30 11 1496 
700 80 130 

12 42 

JO 27 3 ID7 
34 27 106 

75 10 602 

274 37 X 539 
570r 7.1 4 472® 
J57 J 1T73 
375 t* 4 
iOO 87 69 

.16 20 19 TO 
7 1222 
IX IJ 52 2479 
7 33 

IX 40 11 1063 
IX 10* 2WZ 

17 7* 

.10 0 X 99 

IX 791 

IX 7.1 11 

1.18 37 14 424 
X IS M 1490 



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28ft- ft 
50to— U 
17U + * 
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42*— ft 
37*— to 
X 

Mft— U 
61 to— * 
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9*— ft 
18ft + to 
11*— to 
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49% +1% 
16*— ft 
41* 


34ft X JWTa 1.12 
34% 23ft J River X 
381k 14 JomewV .12 
13ft 10* JapnF 104. 


1.12 30 17 79 31* 31ft 31ft 

X 7710 247 31% 30ft 31* + U 

.12 0 11 551 34ft 24U 24* + ft 

10*0127 IS llto lift llto + ft 


45V. 24ft JeffPTI 703 37 6 mo 42% 41% 47 to— Ik 


32 24% JerCpf 470 120 

75 5416 JerCpf 9X 127 

64ft 47 JerCpf 8JM 120 

*4 45% JerCpf 7JB 120 

TO* 13 JerCpf 2.1B 127 

10* 5* Jew! or 


100x 32 32 32 + ft 

730= 7* 75 76 +1% 

1180= 64* *4% *4* + ft 
200=63 *3 63 — % 

19 Mft 18 Mto 
n TOto 10% 10ft— to 


47* X JehnJn UB U It Slfl 47164*164** + * 
46to 37% JohnCn 176o 40 9 5*5 41 40* 41 + to 

27ft 21* Jargon IJO tl 77 22 24ft 24* 24*— W 

X% 15* JoiWIS 70 50 14 574 x 23ft 23* — to 

27ft 21* JovMfg 100 57 14 54* Mto 34 34 — ft 


11* + ft 
71ft— ft 
59*— * 
71* + * 
Tft 

tft— ft 
I5to + to 
10* + * 
Mto 

59 — * 


10ft 7* KOI 
18ft 1* KLMl 


X 20 10 95 7* 7ft 7* + to 

B 178* 17* 1716 17*— to 

<1 33 KAU pf 400 107 41 41ft 47% 41% + % 

41% 28% Kmart IX 37 10 3132 38ft 37U 37%—* 

40* X KNEne 1-48 4.1 15 42 36(6 36 X — * 


K — 1* 
— * 
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57*— ft 
4U 

13to + ft 
82* + to 
11* + ft 
41—16 
1216 


76ft 12* KMsrAJ .151 
2116 14* KotaCe 90 17 
19 151* K4dCef 177 79 

Mto B Karat 00 4£ 
24ft 14% KCtvPL 2J6 105 
32* 25 KCPL pf 370 117 
19 MV. KCPL pf 270 1L9 
54ft 36% KCSou IX 17 


1*47 13* 1316 13*—* 
44 17* 17* 17*— ft 

3 17to 17 1716— ft 

6182 8U 8* Bto— 1k 
515 22% 21% 22* + to 
TOta 32% 32% 32% +1 
3 18% 18% 18% 

148 52 571% 51% + * 


136 Sft 3 3 -ft 

4 38* 28ft Mto— ft 
668 43W 42* 43 + U 


32 22 MtEpfC 300 120 140c 31 

64 48% MtE PfH 172 130 70= 62 

,2^ ,2J P* 1 ?™ Jle ^ M 7 

18 12* MchER 100 80 10 3 16! 

.25* 4% Mlddba X 1.1 29 6 J! 

55% 33 V. Mtdcoa 276 57 8 1534 45 

Mft 9% MktSLrt 17B 111 512954 15 

2Zto lWk Mid Roe 770 60 371 751 


19% 12% KonGE 206 I3J 6 1672 17* 17* 77* + * 


204 A1 3 

10X47 719 

304 127 98 

37* 127 41 

2X 11.1 3 

252 117 39 

275 709 15 

7 JO 177 Mb 

772 11.9 2003 

173 19 12 ZTO 
.12 7 11 1095 

m S * 

iS 25??^ 


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M DEI * 7 75 36ft 25* X + to 

3* Dlvrsln 3 » 5to 5* 5* 

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22% DomRs 27287 9144432*3Slk32*+% 
16 Donald X 37 9 32 11* 17% 17%— ft 

Mto Owner Ll 6 27 w 467 39* 59 59* 

nto Doner IX U 14 IM 31* 31 31% + * 

32to Dover 72 20 13 164 36* Xft Mft— Vk 


48ft 48ft— ft 


9ft CJrtGE 2.16 T1J 7 1527 18* 17* 18(6 + * 


JT- 19 Bard 44 10 IJ 

: IB BcrnGP X 30 10 
4' ft 22 Borne! » 104 2.7 


Bor.wr 40 10 12 191 18% ink 17* + to , 


13* Bto BASIX 12b 10 12 
18% Bousdh TO 20 18 

!»% U* BoitTr 07 22 69 

25’7 17ft BavPln X .9 43 

34* 22% Oo.StG 200 70 10 

S* Mto Becrlrg IX 2J 12 


IX 10 12 2841. 13% 11* lift— Vk 

TO 20 18 3408 31* JD% 31* + ft 

07 22 69 9080 16* 16 16* + ft 

X .9 43 40 2Ji. 23 23% 

00 70 vg 7 34 33* 34 

X 2J 12 37 35* 35% 35% + ft 


3J Mft BeatCc IX SJ 4 4144 31 30ft 31 + ft 

6? ft 46% Bedel IX 5.0 S 57% 57 57 

19ft 12 Brcor .64 30 S3 192 14 13* 13*— ft 

53ft X* BecInD IX Li IS 148 Xto 52% 53% + % ! 

Sft 4 Baker 132 4* 4% 4* + ft 

II 6* Baker pf 1 TO 2L3 31 Tft Tft Tft 

UK BoKMH .43 Ll B 26 11% 12ft 13 

Xft TTft BelHwl 06 10 12 607 35* Mto JS% + ft 

.14 a ^ BelHwpl 07 I • 15 3J 33* 35 +lto 


5% 24 CMG pf 4X TL1 lOOl XI 33 X+% 

2.. S' 9 ClnGpf 675 I2J 100= 3*K 38% 38% +1 

Si! 2 CnG P< 7JG 12.9 27901 T2M rito 72 U 

5% » ClnGef 704 127 TOi a SO SO + % 

71% « ClnGpf *70 117 450= TJ 72 73 +2 

73 » ClnG oi 902 1X0 lOTOx 73 73 H 

S !L S M 22 217 Wk Mft 19%—% 

3? *» 1« u 35* 35*— to 

5>. C raft X J 13 *11 2Sto 24* 25 — to 

2^ iir S r.®"* 16 393 27ft 27% 27% + * 

SO 37% Clrlcrp 23* 40 7 12150 47ft 47 47 — % 

■1 68% Ollcppl 7J2e 97 U5 78* X* 78*— * 

43% 33ft CitVlnv 700c 8 357 35ft 35* 35to 

9* «% Ctatrtr .72 8.9 7 *4 ito 8% 8ft- ft 

28% Sto ClaIrSt .10 J 48 854 29* 28% 29 + * 


2». DowCh IX 50 12 42U 34* 33* 34 


Mto DawJn 
11 Drava 
15* Drev 
14* DrexB 
25% Dreyfus 


30 10 24 846 48% 40 40 — ft 

-5 AO 27 12% 12% 12ft 

00 U M 866 21 to Zl 21ft + ft 

2X 90 20 21 20* 21 + ft 

X 1.1 14 3S0 Sft 54 55* +llk 


<Ito flu Pont XX 57 12 1941 57* 56* 56ft— 1* 
? J £ rT t p * -HS 20 .3** 3* 39 + ft 


29 duPnlpf 400 97 


34ft 23ft DukeP LU 77 9 12*3 2S% 34* 35* + % 


*5 *4 Duhept 870 103 

80 68ft Dukepf 800 102 
75’- 57 Dukepf TM 100 
27 21* Dukcpt 209 100 

35 2B Dukepf 305 11.1 
9Tft 78* DukpfN 874 90 


.35 « M 84% +1 
55001 OT4 79to 80V. + <6 
11960= 75V. 7516 75* 

5 28* 26ft 26% 

-SL 2S? 2S* + u 

3003= 2* 93* 93* + ft 


Xto S5to DunBrd 270 2.9 22 1295 77* Mft 76ft — ft 
17 11* DuqLf 106 120 5 1395 Mft Mft £* 


P3% 67ft CUrt I »n *70 74 9 9285 92% 91 to 91* + % 


» 23* Clark E 1.10 37 72 118 29* 29% 29% — to 

TO 7 CjavHm 12 4* 11* llto 11% 

Z7to 17 avOI IX 57 ■ 37 20ft X JO 

Z2to 14* Clave I 252 110 4 862 22* 22 22ft * to 

63ft 47 U V El PI 706 127 SO* £ 6S iS -1* 

16ft 10 Clevpk X 50 » lift |Jto “to 

19 14* Clvpk pt 174 110 9 14 15* M + ft 

Mft 22% Cloro« IX 37 12 349 Jtft 36% M%— ft 

25 1456 CibbMn .I0e 0 71 114 Z4?a 34* 24ft— ft 


*62 22* 32 22* * to 

50= 63 42 63 — 1* 

» lift llto llto 

9 1* 15* M + to 


18% 14% DUO pfA 2.10 117 
16% 1 Zk DUO Pt ZOO 123 
17 17V> Duqpl 277 110 

17ft 12ft DUO DTK ZtO 127 
Mft 14% Duo pr 271 125 
62 OH Duaef 770 110 
16% 8% DrcaPt x 50 


400= IBto M IS — % 
MO lito 1616 1*16 + * 
40110= 18 16 IB +3* 

. 34 JZI 4 ,7 % 17 % + to 

ITOOZ 11* 18% 18%— ft 
«% *1% 42% -W% 
U 10ft 10* 10* + to 


1751 254 

1« ** 

IX 40 15 1U4 
IX 50 I 9961 
02 12 M 37 
08 20 64 2422 
270 69 11 769 
1* *2 
08 24 10 774 

IX 20 14 220 
IJS41IJ 7 72 

1-52 4.1 9 469 

x Ll II 2716 
172 97 9 82 

IX 41 11 639 

X 20 15 1§ 

1x0 u 1 I a 

ZX 180 7 

.16 30 54 

4B 27 9 25 

X 20 12 9530 
24 17 68 

104 100 7 1208 

un 120 3UZ 
LBS 120 114 

100 1X8 29 

100 100 60SR 
Xe 40 29 258 
X LB 10 63 


17(6 +.16 
2* + ft 

23% + % 
37% 

22ft — (6 
Xft + to 
Z7M— ' I* 
28* + to 
30% + to 
22 

ZZto— ft 
25V. + 16 
66% + U 
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33ft— ft 
1**— * 
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1IU 
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lift 

73ft + to 
7>— to 
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12 +16 
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23 —ft 
32ft— 1% 
X + ft 
16%— % 
23% + * 
40*— ft 
33ft + ft 
19ft— ft 


39* 28ft KrraPLt 276 70 
22ft 18 KaPLpf 202 107 
23 1716 KaPLpf 273 10.1 

45 15% Katyln 

20 10* KeuAr X 27 

MU 12ft Kauf pf IX 97 
88 60 Kauf pf 875 117 


104 39% 31* 38ft— Vk 

9 22* 22% 22* + Vk . 

64 22 V, 22 22 — % 

an is 17* is 

362 15to 14* ltto— U 1 

18 14* 16* 10* I 

3 79* 79* 79ft 


31% 22ft MWE 276 00 

IS* lift MIHnR 04 30 

86 73ft MMM 3X 47 

37* 24ft MJnPL 236 77 

15ft 6* AUsnlne 
B 4 Mitel 
34ft 23ft McbU 233 77 


70= 6216 6216 6216 
449 Zft 2U 2U + ft 
3 16ft M* Mft— to 
6 5* 5% 5% • . . 

5M 45 43ft 44* +Vft 
954 15 14* 14ft— U Aw 

m 15% ijto Mi*- ft 


1« U 1 95 31 U 30* 31% + ft 

K K 12W ,2V4 “ 

JX 47 12 ami 7X6 75ft 75V.— * 
27* 77 9 510 37* 3716 37ft + ft 
M 7to 7 7% — to 

«0 77 1. 5^ jSS J# 


ST* »* Kellogg 176 37 15 760 Sto 54% 54% — to 

“•“ft&r 1J0 13 7 ’is 87 * 

_ 19* Koront _J0 30 14 42 20* 20ft 20H— ft I 


ft Kenoi 
19ft Kemnt 
39 20 % Kylltn 

16* 9* KottGI 


304 80 TO 233 29ft 28* 28* 


26% 17% KmGpf 170 97 


67 1^ 70% 10ft— % 

11 18% 10% 10% — % I 


33* 2616 KerrMc 1.' TO 30 29 737 29 2t% 28*— * 


Xft 17V. KeySk IX 40 9 09 29* 29(6 29V. — % 

12 Keyfnts 40 33 53 T3ft 13 13 

37% 26% KMde IX 74 9 123 35 34* 34*— ft 

BS* 64% KtdprB 470 4J 1 82% 82% 82%— 3 

86 62 KJdPfC 40D 4J 5 82% 82% «2%Zj ; 

59% 39* K lmbCI 273 4.1 11 777 5714 56* 57 — ft 

IHk 2Xk KnahtRd 36 Ll 17 807 37* 36ft 86*— to 

T9 17ft Koger L» U a IX 28* 38V. Sft— ft 

»* 14* Kolmar 32 23 14 Z14 75* 14* S*_ ft 

22* 17 Kopen X 40 27 292 17ft 17ft 17* 

IJu. IS? ft”" .. >5 T 4ft MU 14ft 

45to 32% K.-OBBT LOO 40 12 443 44 43* 

»% 7to Kuflkn 5 1* IS 19* 19ft .._ 

67% 32* Kyocer J3e L0 M 61 32* 32W 32(6—1 

23(6 13 Krm X 40 6 S3 18ft 18 » + ft 


3to ft viMoMH ~ ” ”34 "ft “K 3£ ft_ ff 
9* 5* Mod Cot 9 0 6* 6% A*_ ft 

S ’z* 55S2S 40 u ij s aw a ank + ft 

it 4«: StoSS? ZX 57 11 3$ 4*S 46^ *T + U 

S£ I "ZSr fS» « 11 %% a* Sft 27* * 

3SS ’S-B 11 £ r ^ ’Sk.ft 

WU 12* Moores 72 37 13 51 19ft TO 1H6 + ft 

rserrisa: 

84% 75V. Moron pf70Oe 9J 
4316 26* MorKnd 108 37 10 
£* 1W Morses 81 17 13 


27H SS 51 51ft + ft 
300 81% lift 81% + % 
34 41to 40% 40% — % 
_5t 21ft 21% 21ft— ft 


191 14ft 14% 14ft 




IS 19ft 19ft .._ 

U »ft WW 3216—1 
S3 18ft 18 18 + ft 


Sft 2» 1 44* on ’J U2 S* ,Wh — * 

M* 7% M 12 * 22,4 23 

33* 23% 5S^& S IX 18 11 230 26ft S 

Si It 64 SEK? S! + H 

H* 1% SSSTn 144 2 ^ »» — ■ 


MutOm 104 102 


Mto 14ft 14* + ft 
2ft 2ft 2* 


Mft + ft 
37* + ft 


37* + ft 
28*— ft 
19ft + ft 
29% + Vk 
5ft + ft 
11%— ft 
11% + ft 
21 — ft 
36ft + to 
516 

M + ft 
38% + ft 
15* + ft 
15*— % 
40% +lft 
31 
34ft 

Mft + to 
17*— ft 
15* + ft 


29 22* pi Ho 1378 90 II 11 20* 2» 20* + ft 

17ft 17* LLE Ry L19eli5 263 14V. 13* 14% + % 

4to lft LLCCp 50 1* Tft 1* + ft 

Uto 716 LTV 1640 7ft 7% 7* 

li 13^ LTWA 03* 18 4 lift 11(6 11(6— ft 

B 4Tft LTV pf 2 42 4116 42 — to 

W* 15% LTV pf 3X187 J19 17 16ft Mft 

69 4216 LTV pf 575 122 TO 43 43 43 

TBV. 10% LTV Pt IX 110 20 10* ink 10ft 

17 10% LOuInt 19 190 13% U 13ft + U 

29ft Mto LocJQa 170 70 7 195 25 23* Mto + ft 

10* *ft Loforse X It 77 7ft 7to Tv. + Vk 

28% 23 Lofrgpf 204 105 13 23% 23 to 23V. — (6 

Mft ?to Lomur. 34 25 1 30 9* 9% % 

4% 1* LomSes 189 77 3% 3ft 3ft— % 

14% 10ft LrrertlrTf 96 49 15 418 11* lift 11* + ft 

Bto WV Loom X 10 11 3M 14V. 13ft 14 — 16 

28to 20% LeerRpf2J7 120 IO 23 22ft 22* 


1640 7ft Tft 7* 

4 lift lift llto — ft 

2 43 4116 42 — to 

319 17 lift Mto 

TO 43 43 43 

70 io* ink io» 

19 190 13% U 13% + U 

7 195 25 23ft 24 to + ft 

77 7ft 7V6 Tin + % 

13 23% Z3to 23U— (6 

3 30 9ft 9% 9%— Vk 

f? 77 3% 3ft 3ft— % 


26% 17% DynAm X .9 11 132 23* 32* 23 


3i JJft BCE g L28 257 JT"l 33% 32% — to 

19* Bell Ind X 10 13 39 20% Xto Xto — ft 

42 k 27to BellScu 200 AO 920099 41ft 40ft 40*~% 

57 411; BrlcAH X 10 27 37 55% ss 55 — % 

22 IT* Oemli IX 30 11 M TOto 29 29* + ft 


UK 24 CluatTP IX 10 12 307 23% 13 33 — to 

21% 16 Cluetpf IX 4J 11 20ft 20ft 20ft + * 

21 to I2to Coodim 40 30 11 119 !3to 13ft 13% — ft 


29% 19* HdllFB IX 30 BJ 28* 27* 27* + % 

36U 26% Holbtn Iff U 11 mi 9 W 2M— U 

1* M Hallwd 78 40 16 IM I* Ito i2- ft 

11* Hahedpf 06 50 X TO 9ft 10 + ft 


28to 20% LeerRpf 2J7 120 182 23 22ft 22* 

56 38ft LearSg IM U 10 5W 55% 54* 56 — ft 

21 14 LeoRnl* 40 23 13 36 17% 17% 17ft— to 

34* Xft LewyTr IX 50 12 426 30% X 10%— ft 

42ft 22% Lea Erf .93 U a 31 41* 41 41ft + * 

MU 9 LrsAto X IJ 23 43 1A8 16 16 — to 

21ft ink LegPtot X 27 9 302 21* 21% 21* + to 

4 to 2V. LehVal 78 3ft 3 Sft 

ISft 13% Lohmn T0M10 776 14% 14ft 14ft I 

15% 9* Lennar SB 10 19 247 17ft f2% 13*— ft 

3« TO* LeucNtS „ 4 M 19* 19* iSC + ft 

37* 23 Lev 15 1 IX 50 18 534 34ft 34 34ft— * 

50* 431k LOF IX 29 B 63 47 45* 44ft— ft 

79% Mft LOF Pt 479 60 22 74 73% 73ft— % 

JZto 22% LAfvCp 72 20 16 38 30* 30ft 30*— to 

90* 53 Lilly 370 37 12 810 86* 85* 85ft— lft 

SO* 17* Limited 32 7 X 423 49* 48% 4S%— * 

25* BHUmMwf 18 Mk 24% 2<%— ft 


<6U 26V* Linen n 15 011 98 43% 42% 42*— to 


a lift Oemd un 30 II 16 TOto 2* 29% + ft I 

45% 74 8en#Cp :« 40 II SB 44’- 43ft 43ft— ft 

43 37 Better pf 4X 11 J 140= 48 U% 40 + % 

KK 1? Benelpf 2X 11.9 SOOi 31% 21 21 +to 

i*ft Bmeofrt 39 IBft 19* 16ft— ft 

V: 1. BenolB C7I 133 5 4* 5 

6 I* Barker 7S 189 4* tft tft— Vk 

15% 10ft Bey Pd 34 1 8 33 237 Ijft 13 13 

;v-« Mto Betr.sn to 20 1179 M% 16% 16%— to 


36ft IS* Cocarl i 
60 34% Call pf 


IJ »2 031 33% Xto 32%— % 


Bto 54% OOCoCI 154 4J 14 3361 «% 68% 68ft— % 


my 9* CHeco 
34 ZStk Cotemn IX L9 18 
Tr* 20% ColgPgl I7BB 48 36 
49% 39 CotoP Of 4X 90 
Bft 14% Col Aik S 04 3.1 7 
23 lift ColFXO .M 3 16 


a. » .!£* «s l£4- % 

19 10 83 30* 30% 30* 

48 36 390 27* 26* 36ft- to 
90 392 4] 45 45 —1 

3.1 7 477 71 20ft 2C* + to 


B» r to Bclb&l pf 5JW 114 
24to 15* BemStpISX I2J 
IT 33% Beverly 72 9 TO 

24* 19*6 BlgThr M 34 17 
23 13 k BiOSftn 35 

Ji’t IF. D'cckD 04 JJ IJ 
33'* ”to SickMP 1.93 S8 9 
40 l4to BlOlrJn 00 20 109 


66 69* 40* 40% — ft 
569 2Qto » Xto 6 % 


23 lift CelFXO .M J 16 145 23% 31ft 23 +ft 

2-’= 24% Cot Pen IX so 9 1200 a 37* 27%— * 

63% 3«- Coll Ind 200 4.1 TO 1*7 61% 61 to 61% + to 

S Mft C»Gas 3.18 103 37) 31% J1 V. 3I%- ft 


15ft esapf 202 110 


2»’t If. D'cckD 04 37 II 3090 20% 19511 19* 

33'* 2Tto SickMP 1.92 59 9 47 Kft 33to 321k— % 

40 l4to BlOlrJn 00 20 109 U 21ft 21ft 21ft— % 

58* U% BKkHR 200 47 IS 67 56ft 54ft 54ft — Vk 

87 JJto Boeing 1 108 30 IS 2SM 44% 44% 44U— * 

89 32K BolteC 1.90 4.1 If 197 46* 45ft 46*- to 

6? 46 BalwC of 530 80 11 59% $9 59% + % 

39'k 15ft BgilBer .10 0 25 TO 24 33* 24 — % 

a 20 Borden ( IX 47 » 446 3Slh 3715 37ft— ft 

24ft 16 *» Borg Wo 92 4.1 10 638 22ft 23to 22* + % 

8* Bcw mm 13 44 7Tt 7* 7ft + % 

S : 25ft Bose a 134 74 B 3088 43 42Vb 42ft + to 
8? 6S »«E Pl 808 1V.I 130= 81% n 00 —1* 

IMk 9 Bor E or I 17 100 13 11% 10ft 10* — % 


371 31% 31% 31% — * 

1 30% 30% now + to 

25? + 5* J2!r csopfaisx i« 4o=iotvtiio6%io6%-i 
1J ]’ 3 2 9!* *??•— u w?" C50 Of nli25 143 I8SZ107U !06ft 107% +1 

35 >18 21* SCft 31- — to 49% 771. Combi n L1« 40 9 9» 47ft 47* (7% I 

37 11 3060 20% 19% 19* 37% 25ft CmbEn 104 57 11 3U 32ft 33* 33*- % 

48 9 47 32* 32 to 23% — % 17* B Ccmdls JB 14 9 276 Mto 13% lift — * 

20 189 » 21ft 31ft 21*—% 20 15% ComAAII 36 S3 13 32 15* 15ft 15ft— to 


fi* 4to Bor mm IJ 44 7* 

it '- 25ft Bose a 134 74 8 3088 43 
8? 63 BnE Pf 808 1V.I i30= 818 

:•% 9 BocEp 117 100 13 Ilk 


33* 8to Comoro 1 ISU 0% 8% B* + % 

2 ft Cm~E M0 90 723395 31* 31* 31*— % 

31% 22* C«E pf IX 40 19 31ft 31* 31* +1 

!!I? Ji C »^P* IX TO* 71 10* 17* If +to 

13S £*§ pf 2X TO9 73 10* U* IB* 

M* CwE pf Ur 90 90 24% 34% 341k— % 

J55 2W* CwEM LIT IM 1 U* 26* a*— to 

37* l£* Comes 272 83 6 57 Uft 27* 2T- + % 

£«rtlE5pffX 100 MzM M W +3 
35% TV* Comm 17 U 11 «M 3*ft X* 34% 

Uft 21* CPkVC 30 J 26 H9 3Jto 32* 33ft + % 


41* 26% 

17ft 16% 

32% 22% 

2Sto a 

a* 12 

9* 3% 

4* 1* 

I* % 

20% 4* 

Zl* 6ft 
27ft 9ft E 
a* zito e 
23 12% E 

9 flto E 
Mto 40 
a* 30% E 
32% a E 
37% 31% E 
IS* 13 E 

34to 19% E 
24* 19* E 
29to 25% EPG 
29% 24% EPG 
19to 9* E 
12* 8% E 
Sft 2*E 
28% lift E 
17% lift 
14 4ft 
TOto St 


iS M “ ^ ?2 ?25 ffir’s 

iTu ]■* ^ 4,9 21 ^ 31 + to 

^ n * o 8% at 

1 "3 S a a=* 

i.4» ix 22% ten. rr* 

l-U 53 79 l2 

2X &i n Sto S% Su- * 

100 LJ 4 7S4 53ft 52 52 -1 to 

J8 30 13 919 25% 25 25U + * 

MM 30 13 2687 29% 27b Sft +1 

IX 40 14 31 36* J* 3*ft + w 

X M 12 70 15* U% llto- y? 

X L4 U OT 31* 31to 31to- ft 

ax 90 542 24ft at* 24* 


5S tw JX » 215 36% 35* J5ft- ft 


,’Ji? J32H? J-fiS’M 49 1L. 14* uft— % 

21 18% HonJI U4o &9 IB 20* 20% 2DH — ft 

B 74% Hsndli Ji U u » n r I 

X 30 TO CTO%TOtoW% + U 
?1ft IS* tyreno. X 2.1 23 63 veto 18* IS* 


49 15 14ft 14ft— * 
10 20* 20% 20*— % . 


JS S? 1 ?*. ,43 “ 23 83 18* 18* 11* 

*4 22% HorBrJ 1J0 10 17 u 61 M% *1 + * 

* "2 • X IT 22 246 U* Uto 33* + * 

12* 7* Horn 1th 21 1628 9ft 9% 9ft + to 

» » ijamjg.m IM 57 2Sto 2SU » 

8% *4* HgrnPFC 1422 TSft 25 25V, + to 

VS* MjXlw 90 u » 26 a 27% 27*— % 

?L m3 “ W 1509 at* 25* 25ft — u 

IS* lOftHorGrn 7 MI 1W Mft 10*—* 

Si XL. H 0 !?* J-2 *4 12 532 29% 2BU 29 — to 

,15 11 113 Uft 36 26* + * 

15? 32f ft®* 2 ?*? IX 100 11 II 17% 17 17 — % 


?S5 E£nr“ .H IJ 113 3t% 36 2t* + * 
IS IS! ,’■*? 'fi J' 11 17% 17 17 — % 1 

325 'S’* '4J H » 207 Uto 23* *4% + u 

13% 0 HovuA JOe U 6 22 9ft 9ft v% 

34* 23% Hamm 00 IT 14 M 2«k 24 34 - % 

9 H«Lob X 20 18 0 12% 12% 

21. I?* JUS!** X 42 23* 22ft 22% - * 


Xb ■' I? 730 lSto 77* TO— % 
X 30 4 9to 9ft 9 Vk— % 

X 736 BjCPJS** 

X 50 16 57 10* 14 14* + * 

100 17 13 TO 7f“ 49% «9%— ft 

if if 1" 3 m 8 g# 


IS iS EmRod Tf 7* 14 351 17« 13 
20% lift EftiryA X 19 12 387 17V6 17 


12% 9 HmU* 
31 13ft Him As 

22% 21 HIKrPn 

22* 10* HIKJ5A 
15* 9* Hecks 
IS* llto HeclaM 
ZJ* 10* Hellmn 
30ft IS* Henis 
55% 34% Heinz 
X 12ft HefneC 
34* IS HehnP 
Cft 3% HemCe 


X IT 14 SJ 24* 34 34 — % 

JB 20 18 43 12% 13% 12% 

38 42 23* 22ft 22ft- ft 

392 S 23 22% + ft 

_ 153 28% 19% 19ft— U 

X IJ *5 15 Mft Mft— U 

X 17 24 290 I7to 16ft 15ft— ft 

08b 24 » 201 20ft 19ft a 

X 10 IS 84 29*i 29 a 

1X 10 14 4025 53* 53 53% + * 

24 B 18% 17* 17» + % ! 

36 U a *1 19* 19% 19% + to 

34 6% 6% 6% 


ZR* 18% LlncPl 2J4o OT 36 23* a 23 — % 
80 61* Litton UM 12 906 84V. S3* 83* + % 

Mft Tft Utsnwd 736 B4to S3 £5h +lto 

24% 10% Litton pf 200 9.1 4 22 22 22 + v>| 

53% 34% LeckM 05* 17 9 1798 Sift 50% 5B%— 1 

4Zto 27 Loctfle J) Zl 11 73 29% 38ft Uft— % 

Sift 25* Loews s UO 20 12 9SD 49* 48% Sft + S 

X 21ft Loetcon SB 0 IS « 31ft zift n%— 2 

36* 22 LomPm 1.T6 U 13 397 35 34% 3ft + % 

a 16ft LotnJVUa 204 80 12 179 28% Z7ft Sto +.ff 

3% 2 Lomiwwt 719 3* 3* 3% + to 

27 17* LnStor 1 90 70 « 117 34* » 24% — % 

51% 44 LOneSpf 577 100 17 SOU 50* 50% + 2 

9% Tft LILCo 3 3151 9 8* nJ + £ 

31% M LILpfB 50= 32 32 32 + % 

63ft tt LILpfl 1 63* 63* «%_ 5? 

« 21% LIL pf J 2002 44% 44% 44% 

<7* 23ft LILpfK 100=46 46 46 -1% 

32 8% ULpfX *4 21* 21 31% + * 

a 9 ulp4w 4« zt* 20% a*— u 

71ft 9% LILpIV 55 51 »% a%— S 

26* 1114 LILpfU 34 JS lito M 

Zl Sft LILpfT 104 so 19% IM * to 

*1* 37* LILpfS I WU »% <1% + ^ 

l«A * ULdP 2* 15% lSto V5%_ u. 

19* 7 LILpfO 5 10% TO i« 

29ft 18 LonoDs 32 17 1* St* 36% 26% jk 

33% a* U trpl 08 10 X 1532 K 33* 35 +1* 


21% IM 

as* a 
a in 
22% 171 
43* 23V 

30* an 

M* 9V 
36ft 25V 
1% V 
48ft 31V 
83 439 

28ft 21V 
29ft 214 
18% 109 
34 TP. 

a iiu 

30% 18* 
24 19V. 

45ft 27 
4% 2V 
Uft 23rt 
65 32H 

31 T7R 
11% 6% 
29 27ft 
16% «y. 
30ft 2»v 

18 lift 
13 10 

J1* 23ft 
75 llto 
T9 14% 
12* 8% 

2!P 
2* a* 

2L 

27% 16% 
34 24% 

19* 13% 

a* 24 * 

2- ,} “ l 
SW4 33* 
18 11% 
9* 7* 
46% 31 
4* 1% 

3a 

WV 22 
31% 23% 


E 50 J-" H '■ TO JJU 19* 19*— V* 
yM 15 ,, 214 3Mk as% 36* + % 

« J! 980 17ft 17% 77% + U 

,U M I *2 21% 21 21* + U 

'm J? 'S ,*5 SY* 4,46 47% — I 

*» tp 8 it4 ^ ^ 

exa ?° 1999 «* 47* 48 + U 


IX 39 

32 10 13 


4 ’K «!! 2, % 31% 23% 

17 SOU 50* 50% + u 23% 24* 

33, SL^ »Hm + % 

Brrr-u ^ it 

A* aft 20% EZ 

. n 

43* 
45* a* 
20% 13% 
JT* 11 

«% IB* 
<%k 36 
3S% TO 




b Sifcsaa drss '$ «» gss ssl s*fs 

fiafifttssTLA-riK 4 ^ + m 


37* 27* Hereuft 100 40 11 915 35* 35 


33% » LfiPLpf 400 147 «32*a%Sfi TW 
34% Mft LoPLpf 3.1* 1U 83 34* 34 u. 

a* 27% LewGe 204 70 9 2096 33ft 31ft M2 j. 2 


18ft 10* HarliCt 


is ii s 1 ^ jra^a*** 

31% 14* La w 36 10 It 381 36* 26* a%— * 



“ s gs ss sum 

“ " s as gs f 5 H 

K 7 4 ! a» 2E^ 30% - * 

X IJ 65 660 26% aft gft-j-% 

-52 10 15 1891 30* 29% 29% — % 
l« O 11 69 2M zS5 25K— % 

00 u ]] *2 !$£%2zZ 

2 t 3" ir in ,?5 iJi TOft mk + to 

1 St KB** fr- 
ig jg 7 %**,* 

i’a-ss'gi+u 

IX 23 3V 232 43ft 43% 43*—% 

JJ JH firf 11 J* J**# 

SSJii jg8 ” s -1 

110 a 00= 42* 42 42% +1* 

Hi 

17 113 TO TO TO 
l 12D 3Jk 32* 3214— * 

3^? *i » ISU IS* 15* + » 

»- * 

Is 1 " J 7*63 72% lift 12* + to 
3X90 7801 36* 36 36U+* 


3X 117 
UO 110 

NiaMpf 4S0 110 


nurk- 
llto- «!•'»■ ' 
inJ v.'v' • - 
line — ‘ 
■Iriiu’--' •" 
mulur- 

vlkt;’. • 

U-’fi - ■ ‘ ‘ 
ibfsnj--- 
HvifLvl • 

ilur-v*'- 1 ■' 
pererr: • • 1 ' 
OKTStfl -i • 
A; ci' t- v " • 

drouiu 

’GptlflvJn' •• ■ 

live:: ' ■’ 
iaul.'r i' •• • 
priwcv r.'.ii- 
ik'ur. • k.- 

HMHC : J!i“- 

t “Rczy - 

mAl.i.iS. • 
\j.-j.L- 

izcJ Mui t.- 
vjJu,\i" j- 
inLTvLU '. 
impr.iv.r,; 
Hski.V.1. 


(tirm 




0'ip-, /. ; 

I , 


ts**» 


g.: ; 


sar : « 

Si:--.- 






| 

!tv : 1 

^ ■ 

SJ'ft 

O.N 

s ^ 

SL 


% 


(Continued on Page 14) 


pa 













Statistics Index 


' AMEX Prices P.14 EunVngs marts PJ4 

**>*» ’• *M£x BW«/iPWP.» Fitno rate nates P.17 

l ‘» nvse prices P .12 qom marfects P.13 

■ ; . , ^ t NVSE MstHflOM P.14 Interna rates P.13 

•• •. n Cawllan stocks P.W Mortal summer* P.T2 

V ! , ‘ Currency rates P.13 Oattuns P.14 

PM 

p.14 Other markets P.il 



licralb^i^Sribunc, 

BUSINESS/FINANCE 


1985 


U.S. Stocks 
Report, Page 12. 


Page 13 


WALL STREET WATCH 




3 ** 


Regional Banks Gain Notice 
Alter Supreme Court Ruling 


m 

• ■ . * ^ c. 

k? « . .iPk . *' 


By EDWARD ROHRBACH 

International Herald Tribune 

P ARIS — Willie Sutton, known as "The Actor" for the 
clever disguises he used in numerous holdups, was asked 
by police after his arrest some years ago why exactly he 
robbed banks. ‘'Because that’s where they keep the mon- 
ey," he replied. But it was not just a day job for Mr. Simon. He 
also once observed, “It’s rather a pl ra»s»m experience to be alone 
in a bank at night.” 

A new book called “Funny Money ” by Made Singer, adds an 
updated dimension to the banking business by illustrating that 
there, indeed, the pen is mightier than the sword — and certainly 
any hanrip iw a customer of Oklahoma's infamous Penn Square 
Bank is described as signing — - 


vmetek 


^ loan notes on this “method- ^ , , 

ology”: “Very qtmpfa He box- 18k60YM8 IlflVC 

^ docsn ' t already been a strong 

But how can individuals be element in their 
criticized when whole conn- 

tries borrowing billions do not market performance. 

pay back their debts to Amen- £ 

can banks? As Sheapw n Leh- 
man/ American Express points out while operating profits from 
international l ending declined 9.7 percent m the years 1982-84, 
net income from U.S. banks' domestic operations rose 62.1 
percent. 

Beneficiaries of this trend have been the so-called regional 
banks, as distinguished from the “money-center” financial giants 
in New York, Chicago and California that have suffered their 
mountainous exposure to bad foreign loans. And last week the 
regionals received a big boost from the Supreme Court when it 
ruled that they could merge across state lines with other banks in 
the region. 

“It will a] low the regional banks to combine and strengthen 
while delaying the ability of money-center banks to expand much 
beyond their existing operations,” said Richard T. Hale, who 
heads the bank and thrift analysis group at Baltimore’s Alex. 
Brown & Sans. 

S TOCKS of regionals went op on the news, particularly 
those considered likely candidates to be bought oul Take- 
overs already have been a strong dement in the excellent 
market performance of regionals in the 1980s, Mr. Hale noted, as 
the stocks so far this decade have tripled the gain of the S & P 500 
and doubled it the past 12 months. 

^ Other factors he died for their four-and-a-half-year bull mar- 
! ket have been the fact that stock prices — at only a 55-percent 
' multiple of the overall Wall Street price/earnmgs ratio in 1981 
when investors were worried about the impact of bank deregula- 
tion — were at historic lows. Also the disinflationary trend since 
then has substantially improved the quality of their earnings. 

Helped by earnings gains this decade that have been better 
than the market average, regionals are still only selling at 80 to 85 
percent of the Wall Strek P/E, he said. “Especially now with the 
merger-acquiritioin speculation and things generally going well, 
the group presents a very good buying opportunity because it 
should sol for at least a market multiple,” he asserted. “There’s 
significant room for appreciation.” 

Even arise in interest rates that many economists are predict- 
ing for the second half of 1985 would not hurt earnings or stock 
prices much, he believes, rating the case in early 1984 when the 
issues only “paused” on Wall Street in a fiymain of temporarily 
rising rates. 

, y “Regional banks are not as interest-rate sensitive as sayings 
’/and loans or even money-center banks,” he explained. 

Areas he favors are the mid-Atlantic states and the industrial- 
ized Midwest. Prices of hank stocks there remain “reasonably 
valued” and have not been “bid up" by being long opened to 
interstate banking, he said, while local economies are “solidly 
improving fundamentals.” 

IBs top recommendations are American Fletcher, AmeriTrust, 
(Continued on Page 17) 

J Currency Rales 


> 1 


• 

c 

DM. 

FJF. 

IU- 

our. 

BlF. 

3LF. 

- 

Amsterdam 

13875 

U«2 

HITS' 

3*SB* 

8.1744* 

— 

5JS* 

13444* 


Brussels (a) 

task 

7MI 

2HT7 

*4185 

3.152S* 

170845 

— - 

2*87 

»■ 

Frankfurt 

ma 

1MI 

— 

3278' 

LSfHx 

0848* 

4JS4* 

119 84* 

‘ ' ? 4 ‘ 

Laadaa (M 

U«5 

— — . 

IMS 

1U3S 

240878 

ua 

TUTS 

13055 

. ■ 

Milan 

1JZL5B 

UK 75 

aw 

2B9J4 

— 

50.18 

31727 

78285 

- i 

New York t a 

- . 

0770* 

IMS 

9JBS 

X93L75 ' 

a«® 

am 

2B15 


Parts 

9.145 

nm 

3JB11 

— 

4X9Sx 

2705! 

15.02* 

383*2 


Tokyo 

asiJB 

33U8 

8122 

2*98 

1215* 

7284 

48884* 

97J9 

V - 

Zorich 

U2B 

uea 

8X795* 

27,47* 

0,01* 

7*245* 

4.HE* 

— 


1 ECU 

OM Iff 

050*7 

IMS* 

44487 

MfeV 

>WI 


18819 

y* 

1 SDR 

UM1 

074549 

101915 

9J090B 

unus 

340079 

<88714 

74303 


Interest Rales 


K«y Money Bates June 
198 


A d— BaBar B epo d to 

June 19 


UdUdShan 

DiseantRote 
Fader* m* 

Prtm# Bote 
■rafter Loan Rote 
Cam Pam W-lTfdan 
jmanlfc Treawrr MK 
Tnaaav MBs 
cm ms dm 

UaiftaraRate 
pwenteW Rate 
0«« Moan tafertnak 
MaatfclnMIM* 
frawA interim* 

Prime* 

Ulii mdliffl ITnte 
CaMMftaer 
Oo u p w p rt latertaafc 
HM* IftUffcOB* 

MMteloMIMk 


Clam Pi w. 
7lft 7ft 

Aft A 

9% »ft 

Mft MW 
MS 7.18 
U» AM 
*32 *77 

475 AJ5 
U* *85 


U0 *40 
545 SAB 
SM SlU 
JlM 570 

575 375 


Wfc IBft 
IBM# WV. 
18M4 win* 
MM6 1PM4 
win* ioft 


I mOattV 7ft-7ft 

1 moans . 7V. -7ft 

Smooths 7V. -7ft 

* moans 7ft- 7ft 

yaor 7ft-8 

Source: Revferx 


UJS- Money Market Fonds 

June 19 

mmHH Lnd Rsody Assets 
3* aar overturn rMO: bm 

Totenilft literal Rote Mdu hjv. 

Source: MnrriH Lynch. AP' 


Gold 


Brim* 

Baal boh Role ■ un 

CMMoon W w 

fVdeV TreeurY an 11 Tins fliffl 

MHt> tetertaft* ww 

5 tUfcoaat Rate 5 3 

QPIMamy APU A 

AMtevlfttertaak Asm A sn* 

Sources: neuters, O ammrtkm k Mini 
LradMte. UtoMS Bn*. Ban* erTWKL 


5 3 
nm A 
Asm Ain* 


JuntJ9 

AM. PM. an* 

Haas Kona - 3BJ5 smt* +u6 

Lmambourg 32150 — +425 

Paris ms idia) 377 jg? mta +172 

ZWim 12*75 32SJH +210 

landau _ 32X30 30SM +U5 

Mow Yarfc — JUJJ . —MO 

LvKefnOoura, Ports and Lcnckxi official ftx- 
kvs; Hons Kora and Zurich aecnfttp and 
dosing prices; New York Comex current 

contract, ah priettmt/Asptf mmce. 

Source: Reuters. 


. Qosinp* tn London anti Zurtdk fixings At other European cantor*. New YOrt rates at 2 PM. 

c«nm*rtw franc lb) Amounts needed to buy one pound (c) Amounts needod to bur one 
goHar ft Units of 100 (xi UnHsaflMO ly) Units of MMINJl; not auoled/ NJL: not tnatbrUe. 
fat to boy one pound: SUS3J9M 

OdwrlMlarValne§ 

Currency per USA Cwmcr per UAJ Cwrency nr iua earner per UJU 

Arson, austral 880 Hn .antlii 433 Matav-rtoB. US4 LKdr.ma H70D 

AostraLS 1J002 enmtdrac. 13440 Metrao 25040 Soon, aasala 17340 

Aaftr. KhJL 3173 Hoag Kate S 7JSB Hane-kraM 870 SftmLKraaa 8745 

Baft, rut tr. Indian rupee 1141 PMEaem 1M1 Tb*w«* 3979 

Brasil am. 575040 (ado. mAab 1.11748 Pwtoscado 17375 TtaaltedM 27.1 H 

CmMNflcmS IJA4 Utah c 0767S saedl rival 34505 TnrtWiRra 52745 

□antah krom 1045 Israeli Wok. 1.13447 Staa-t 273*5 UAEdMam 34725 

Egypt, poond 07519 Kmvalfl— iar 03022 S. ABr.raod 142BA Vteez.bOfh>. 1345 

csterHaa: 17425 irtstir 

Sources: Banouo du Benelux < Brussels); Banco ConxnmMe rtoHona C Milan); Cnemkxd 
Bank (New York): Banouo NaHandede Pads (Paris); Bank of Tokyo (Tokyo); IMF (SOU); 
BAlt (dinar, tit a* dbltantf. Other data (ran theaters artSAP. 


Har m hictj P ep t w lte jw a 

Swiss _ French 

Dollar Mink Franc SterUag Franc ECU SDR 

imam 7ft-7N> 5-5ft 12ft- 12ft teft-ievi 9MM> 7ft 

JMontU 7h-7ft 5ft-5ft 5 IWd ft Uft-Uft 10ft-10ft 9ft4ft 7ft 

] u, natti. 7t*-7ft SUft 5 Kr5ft 12W-12V. Wft-tOft 9ft4tft 7ft 

Cmalhl 7ft-7ft 5ft-5 ft SftrSft lift-12 Wft-IOft 9ft«ft 7ft 

1 year 7ft4 5ft5ft SftrSft llft-ITft Wft-nek VltrVft 7ft 

sources: Morgan Guaranty (dotter. DM, SF, Found. FF); Uards Bank (ECUJi Beaten 
ISOR). Nates oxnHcoato to Interbank damsM a/J7 mUHea minimum (aceadtyaientt. 


Dollar 

Regains 

Ground 

Markets Await 

UeS. GNP Figure 

Compiled by Our Staff From Dapaldun 

LONDON — The dollar 
Wednesday regained some of the 
ground it bad lost in a late seD-ofT 
in New York Tuesday as traders 
awaited Thursday’s release of the 
“flash” estimate of the UJS. gross 
national product in the second' 
quarter. 

Analysts said that traders were 
reluctant to be short of dollars in 
expectation of an increase in the 
GNP estimates. 

The dollar’s recovery followed a 
steep decline on Tuesday, after ma- 
jor u.S. banks cut their prime lend- 
ing rate one-half of a percentage 
point, to 95 percent. Many ana- 
lysts predicted that the prime, the 
rale banks use as a benchmark fra 1 
business loans, would be cut again 
within a few weeks. 

In New York, the dollar re- 
bounded at midsession Wednesday 
to 3.031 Deutsche marks after fall- 
ing to less than 3 DM during trad- 
ing Tuesday, for the first time since 
April. It soiled at 3.002 late Tues- 
day. 

In earlier European trading, 
markets followed Tuesday’s down- 
ward dollar movement fra much of 
the day on Wednesday, but the 
currency reg ained somegrotmd at 
the end of the session. The British 
pound settled at S1J055 in Loo- 
dan, up from 51.2993. The dollar 
was also down on the day in Frank- 
fort, to 3.0048 DM against 3.0445. 

Other European dollar rates 
Wednesday, compared with late 
rates Tuesday, were: 9.165 French 
francs, down from 9287; 2J28 
Swiss francs, versus 1554; 1 52250 
lire, down from 1,942; and 25135 
yen. down from 248.65. 

Analysts said the dollar ’s gain 
late in the day reflected a shift in 
traders' concerns from expecta- 
tions of new cats in U.S. interest 
rates to anticipation of an increase 
in the “flash" U.S. GNP figures. 

Economists’ projections for the 
growth in the GNP, which mea- 
sures the value (rf a country’s goods 
and services, ranged from im- 
changed to 45 percent on an an- 
. npaloed basis. There was a general 
expectation of about a 1 .8-percent 
growth rate. 

The U.S. under secretary of com- 
merce fra economic affairs, Sidney 
Jones, said Wednesday that he ex- 
pected GNP growth of 2 percent to 
3 percent, but he said Ire had not 
yet serai the estimate. (Reuters. AP) 

U.S. Income 
Fell 0 . 5 % 

Last Month 

Compiled by Oar Stiff From Dapatdus 

WASHINGTON — Americans’ 
persona] income feD 05 percent in 
May from an April level that had 
been unusually high because of two 
special factors, the government 
said Wednesday. 

The Commerce Department said 
income last month feQ $165 bD- 
tion, to an adjusted $3,172 trillion 
annual rate, after rising a revised 1 
percent in April. 

The April increase originally had 
been reported at 0.6 percenL 

In addition to an influx of in- 
come-tax refund checks that boost- 
ed the April income figures, the 
department died two other factors 
that contributed to the big May 
drop. 

The department said new data 
showed unusually large subsidy 
payments to farmers in April and 
died a retroactive wage payment to 
postal employees that inflated the 
April income report. 

Without those two factors, the 
department said, personal income 
fra May would have been np 0.4 
percent. 

Those special factors notwith- 
standing, tne May Harime was the 
first monthly drop since a 0.1-per- 
ceni drop in February 1983 ana the 
sharpest since a 0.8-percent decline 
in June 1972 

Personal income figures are not 
adjusted for inflation. 

Despite the statistical drop in 
income, personal consumption 
spending rose $183 bflfion at an 
sramifli rate, or 0.7 percent, to $2.49 
trflKanm May after a revised I- 
percrau increase in April of $23.4 
bflfian. 

The Commerce Department pre- 
viously had reported the April 
spending increase at 0.7 percent. 

Government wages and salaries 
rose $4.8 billion in April and then 
fell 1.4 billion in May. Excluding 
the retroactive pay raise, govern- 
ment wages rose $1.7 btihon in 
each month, the department said. 

Farm incomes fdl $272 billion 
in May after rising $19.6 biflion in 
April The government attributed 
the unusual swing to high subsidy 

S yments to com and sorghum 
mers in April and small pay- 
ments in May. 

Private wages and salaries rose 
02 percent last May after a 03- 
percent increase the previous 
month. (AP. Reuters}. 









British Telecom 
Posts ’84 Profit 
Of $1.93 Billion 


wmm 




l uOr 


The New Y«fc Tn 


Good Harvests Worldwide Bring 
Hard Times to U.S . Whealfields 


By W illiam Robbins 

JVw York Tima Service 

WICHITA FALLS. Texas — Fred Dwyer 
stepped onl of his pickup truck, looked across his 
wheatfi elds which stretched as far as he could 
see, and squinted into the midday sun to watch 
three big red combines cut broad swaths through 
the golden grain. 

The combines, run by a crew of custom cutters 
— contractors hired by Mr. Dwyer to harvest his 
winter wheat — were beginning a course that will 
take them through the nation's heartland this 
summer. 

After Texas, this crew and many others will 
crawl across the broad plains of Oklahoma, Kan- 
sas and Nebraska. By September, when they end 
their pilgrimages in Montana or the Dakotas, 
they wfl] have left behind villages and towns 


studded with granaries that overflow with anoth- 
er bounteous harvest — far more wheat than 
America can sell 

And tha t, said Mr. Dwyer, is related to the 
creases that tine his deeply tanned forebead and 
crinkle around his eyes. The bunting Texas sun is 
only partly responsible, he said, as are the winter 
winds that sweep down the plains “with nothing 
but a few strands of barbed wire between us ana 
the North Pole.” This year, those lines have been 

deepened by the initial success of the harvest just 
getting underway. 

His mood does not improve when Floyd Sie- 
mens, the harvester who reaps Mr. Dwyer's 
wheal every year, sieps down from one of his 
combines to advise tne fanner that the yield 
“looks tike it’s running real good.” It might help, 

(Continued on Page IS) 


China’s Role in Hong Kong Grows 


Reuters 

HONG KONG — China’s sup- 
port for an ailing bank in Hong 
Kong and concerns over the health 
of tire local braking system is a sign 
of Beijing’s growing political and 
financial s take in a stable Hang 
Kong, bankers said Wednesday. 

TTrey said Bank of China's credit 
earlier this week to Ka Wah Bank, 
rumored to be in financial trouble, 
was aimed at ensuring a smooth 
transition when China regains con- 
trol over the colony in 1997 and at- 
protecting Bering's sizable bank- 
ing operations in Hong Kong. 

“It indicates concent for preserv- 
ing the stability of Hong Kong’s 
financial market,” said Frank Mar- 
tin erf Security Pacific National 
Bank of the United Stales, 


Baqk of China and the colony’s 
leading bank, Hongkong & Shang- 
hai Banking Corp„ gave Ka Wah a 
large credit on Monday to shore up 
confidence in the banking system, 
which had been stung by the col- 
lapse of Overseas Trust Bank 10 
days earlier. 

The failure of OTB, which has 
been taken over by the government, 
seat stock prices tumbling and led 
tojumms about the health of sever- 
al small banks, including Ka Wah. 

Bankers said the credit, the size 
of which has not been announced, 
was a welcome change from Bank 
of China’s actions in 1983 when the 
Hong Kong dollar went into a tail- 
spin and had to be pegged to the 
U A dollar. Then, Bank of China 
took no public action to support 


the currency and was accused of 
joining those who sold Hong Kong 
dollars heavily. 

Bank of China and its sister 
banks now have sizable deposits in 
Hong Kong, and bankers said these 
would have been jeopardized by a 
more serious jolt to the banking 
system. 

“They're a large bank with a 
growing role in tne market,” said 
Stephen Hunt of Bank of America. 
“We’re pleased by this positive, re- 
sponsible move." 

Bank of China has in recent 
months taken a more viable role in 
local banking operations, joining a 
group that advises the government 
on banking policy. It also has taken 
a more active role in the syndicated 
loan market 


Complied hr Out Staff From Dispatches 

LONDON — British Telecom 
PLC. the lynchpin of the Conserva- 
tive government's sale of sta- 
te-owned assets, said Wednesday 
that its pretax profits for the year 
ended March 31 rose 50 percent 
from a year earlier, to £1.48 billion 
($1. 93-billion). 

The full-year results were the 
first the company had announced 
in its status as a' non -government 
concern and represented the high- 
est profits ever reported by a non- 
-oil public company in Britain. 

“1 am pleased to be able to re- 
cord notable achievements both in 
the successful transition of British 
Telecom into the private sector and 
is a satisfactory year’s trading.” Sir 
George Jefferson, British Tele- 
com's chairman, told a news con- 
ference. 

The results compared with a 
profit of £125 billion forecast by 
the group before the public stock 
sale last November, but were in tine 
with analysts' predictions. 

Half of British Telecom was sold 
off for £4 billion in the world's 
biggest sale of new stock. 

The issue, keenly priced with at- 
tractive bonuses to ensure public 
interest, was a runaway success. 
The partly-paid 50-pettce shares 
virtually doubled as soon as trading 
began and traded Wednesday at 
1 85p, down from 1 87p immediately 
after the results. 

British Telecom is by far the big- 
gest state interest sold off in Prime 
Minister Margaret Thatcher’s pri- 
vatization campaign, aimed at re- 
ducing the state's role in the busi- 
ness sector. 

Companies already disposed of 
include the North Sea oO explorer 
Britoil. the automobile manufac- 
turer Jaguar and British Aerospace. 
Among those awaiting sale are 
British Airways rad Rolls Rqyce 
aero-engines. 

Sir George said that the compa- 
ny’s costs will not fall from current 
lords for another two years, when 
the development rad implementa- 
tion of modernized manag ement 
information systems is complete. 

Total operating costs rose in the 
fourth quarter of 1984 and the full 
year to March 1985 by 10 percent 
and 8 percent respectively, ne said. 

If allowance is made for the spe- 
cial factors identified in the pro- 
spectus, the increases were 12 and 
11 percent. Sir George said that the 
number of employees would con- 
tinue to fall as the company's auto- 
mation plans were implemented. 

He said staff costs for the year 
were up by 5 percent, after special 


factors. The workforce fell by 
about 6,000. 

Over the three years to March 
1985, the number of jobs was re- 
duced by about 16,500 compared 
with the company's target of 15,000 
for the period. Sr George said 
there was no target for future job 
cuts. 

Capital expenditure of £1.85 bil- 
lion in 1985 was in line with fore- 
casts. The spending was on facili- 
ties for handling business growth, 
modernization, improving the in- 
frastructure of the network and on 
new services. Higher total spending 
was also attributed to the costs erf 
the flotation. 

On a U.S. and Canadian ac- 
counting basis net income attribut- 
able to shareholders was £770 mil- 
lion in the year and £205 million in 
the final quarter. Earnings per 
American depositary receipt, com- 
prising 10 snares each, were 12Sp 
and 34_2p respectively. 

Sir George said telephone in- 
come, which formed more than half 
the £7.65 billion turnov er, grew by 
12 percent in year. (Rearers. UPI). 


British Wages 

Ro$eb\'9e4% 

m/ 

In Year to April 

Rrulm 

LONDON — Average earn- 
ings in Britain rose 9.4 percent 
in the year ended April after a 
revised 9-percent increase in the 
year to March, the government 
said Wednesday. 

The April index was set at a 
provisional seasonally adjusted 
170.5. base 1980. The underly- 
ing rise, adjusted for such fac- 
tors as back pay and liming 
variations, was 7Vi percent in 
the year to April, unchanged 
from the year to March. 

Unit wage costs in manufac- 
turing rose at a year-on- year 
rate of 8.9 percent in April com- 
pared with 5 percent in Mar- 
chand 62 patent in the first 
quarter, the government said. 

Die actual 9.4-percent rise in 
average earnings to the year to 
April was the highest since Feb- 
ruary 1983, when it was 9.6 per- 
cent. The increase was inflated 
by various factors, including 
the ending of the one-year codi 
miners’ strike and higher bade 
pay. government sources said. 


HongKong 9 China to Form Joint Bank 


Reuters 

HONG KONG — Panin Hold- 
ings Ltd, a Hang Kong-listed com- 
pany, said Wednesday that it has 
signed an agreement to set up the 
first joint- venture bank with China. 

Xiamen International Bank wxD 
have registered capital of 800 mil- 
lion Hong Kong dollars ($103 mil- 
lion). with initial paid capital of 
420 milium dollars. 

Panin, which wifl hold a 60-per- 
cent stake, will put up 72 million 
dollars in cash and inject two sub- 
sidiaries, Panin International fi- 
nance Crap, and Banco Lusolmer- 
nfldooal Sari of Macao, into the 
bank. The net asset value of the two 
is 180 million dollars, according to 
Panin’s secretary, Thomas Lam. 


The Chinese parties are Industri- 
al & Commercial Bank of China, 
Fujian branch, which will contrib- 
ute 15 percent of the capital in 
cash; Fujian Investment & Enter- 
prise Crap., 15 percent, and Con- 
struction & Development Crap., 10 
percent. 

The bank, to be based in the 
Xiamen special economic zone in 
southern China, will conduct com- 
mercial and investment banking 
business in currencies other than 
the renminbi. 


Chinese authorities must ap- 
prove the agreement. It is also sub- 
ject to the approval of the share- 
holders of Panin, an investment 
vehicle far Indonesian interests. 


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39 Bedford Square. London WClB JEG. England (01)580-1096 Tefex: 88I2I30(MCLE1S G) 
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Page 14 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


Wednesdays 


NiSE 


Tables include ttw noltonwWe prices 
up to Hie closing on Wall Street 
and do not reflect late trades elsewhere. 


13 Month 
High LOw 


Stock 


Sis. Close 

Uv. YW. PE lahHtoliLowOwtf.orBe 


(Continued from Page 12) 


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250* 66to 66V 66to + to 

237 UV] 11 llto + to 

469 10V lOto 10V + 16 

EfflOz M S9V] 60 + to 

392 10*0 10 1016 

3TQZ126 124 

IOOZU4 114 
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141x60 
" 22 


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3SV 3B* PortJ pl 450 13.1 
34V ami Port? pi 472 128 
28* 25*6 PomcB 1-56 45 12 
32V] 20 PofmEl 7.16 Ai 10 
«to 31 POlElP* 4114 10-1 
SDto 41V PolElpf 473 85 
2Sto ItV Pretnl 8 86 
38V as Prlmrfc 2M 
20*6 llto PrimrC 
32V 13V PrlmMi M 
59V 50V ProctO 280 
Mto 7V Prd Rah 7? 

47V 33V Prolar 150 
23V 16V PSvC« 2B0 85 

am uv pscoipf no 108 

SK 6V PS I nd 1J0 127 
8*6 6 PSlnpt 184 137 

B 4* PSlnol TM U5 
47to 27 PSInpi 7.15 153 
4Jto 90 PSInpf 954 I5B 
57 44to PS in pf 052 155 
55to 43V] PSInpi E3B 1*3 
MV 47V. PSInpi L96 140 
5V Ito PSvNH 
UV 6*6 PSNHpf 
12 7Vb PNHpfB 
17V] lDto PNHpfC 
ISto BV PNHpfO 
1SV 9 PNH PIE 
llto 7V PNHpfP 
14*6 TV PNHPfG 
27V 19V9 PSVNM 288 1U 
Tito 21 PSvEG 204 90 
14 lOto PSEGPT15D 105 
3B a PSEGpf 4J( 100 
40V 27V PSEGpf 430 115 
47V 33to PSEGpf SOS 110 
Mto M PSEGpf SOI 11.1 
109 lOTto P5EGpfl354 1U 
20V 15 PSEGpf 2.17 UO 
22to MV PSEGoi 253 115 
M6to 96 PSEG pil275 115 
72 55 PSEGpf 780 110 

60to 51 PSEGpf 750 108 
4to TV Puttie* 

13V TV Puabto .16 U 
9V 6 PR Cam 
15V TV PwpafP U» 115 
2iv lOto PuiteHm .12 J 
UV. 22V Purokd UO il 
lOto 5to Pvre 


3626 23 2216 23 + 

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is 55 m ink— 

f Bto 33 33 — 

34 90V 20V 20to + 

500 56V S5V 95V— 

647 25*6 24V 24V — 

52 14*b 14 14 — 

215 44to 44V 4416 — 

276 11V 11*6 Uto — 

27S 13 1» 13 + 

90 Ito SV BV — 
R TO Tto 9V 

3 aim am am + 

M 16V 16* 16V + 

12 IM 1360 31V 31V6 31V + 

5 25 W9 11*6 11 Uto — 

4.1 6 19*6 I9to 19to + 

22 U 20 17V 17V 17V + 

70 40Qz 7S*6 7816 78*6 + 
90 7 1066x21V 20V 2} — 


00 U 14 
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-94a 45 10 
50 26 31 
100 


60*802 101toW1to+ _ 
IBx 229k B M + V 
9T* 34Vz 33V Bto— to 
95x3346 32V 33V 
38 34to 34to 34V— to 
452 B BV B + V 
120x40 40 40 

280 49V 47V 49V + to 
840 Wto If 19*6 + *6 
443 39 3BV6 38to 
13 1425 16V Mib Mto— to 
2 27 M 30V 30to 3M- to 

40 13 1515 54V 54 5416 + to 

Z1 31 N Uto 15V 15V + to 

30 11 9 37 36to 36*— M 

10 1 KB 23V 21V 2» + to 
23 21 20V 71 + H 

1 W 7ft 714 7k 

77 Of a 7V 7V— V 

xzaoz a 7V a + to 

5602 47 46V 46to + V 

1SSQZ 6296 42*6 6296 + V 
120lS5to SSto 55to — 1 

■n&fSto 54V 5$ 

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2 4134 5to 4V Sto + V 

6S0X II lOto 11 + to 

55 12V UV 12to + V 
31 M 17V IB + to 
83 16 1516 15V + V 

104 1666 15V] 16* +T 
41 14 13 14 +1 

102 UV. Mto 15V +tto 
9 TOO 28 27V 27V + to 

8 2006 3116 21 V. 31V + * 
3 T3V 13V 13V 

300. 37V 37V 37V + V 
500X 37 37 37 —lto 

22Bz 46 44to 46 
200. 474ft 47V 47V— V 
174 TMto 111 U4to +8 Vj 
139 TO 19V 79to + V 

12 21*6 21to Tito— V 

500:307 I® W7 +1 
lOOOr 71 71 71 -V 

lSte60to 68* 68* 

283 JV TV 2V— * 

9 265 Bto UV 12* + to 

S 2 6* 6V SV + * 

9 630 15* 15V 15* 

(5 351 17* 16V 16V + 16 

19 345 25* 24V 24V— * 

7 462 7V TV 74k — ■ to 


51V a* QuafcOs 104 25 U 1131 SO 48V 49V + *6 

22V IS QuaUO 80 38 24 418 21 to 20V 21 + V 

11*6 64ft Oouocx X 47 7* 7* 7V + * 

3416 23 Quadcr UO SI 10 189 32 71* 31*— to 

Bto M OkRcll 04a 1.1 16 346 71 20* 20V + to 


13V 6 Vi RBInd 041 8 


IB 9* 9 9 —to 


46% 

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1JM 

23 13 

4949 

458b 

45V 

45% 

104% 

71 RCA of 

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1 102V 102V, 102V— % 

34 

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64 

771 

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33 + V 

37V 

29V RCA Pf 

145 

99 

7 

37 

3*11 

37 + % 

9V 

4% 

4% RLC 

3 RPC 

70 

27 11 

S3 

7V 

38b 

7% 

3% 

7V + % 
3% — % 

18% 

12% RTE 

Jt 

10 10 

181 

Uto 

10% 

18% 

Uto 

7 Radio 


9 

74 

llftb 

11% 

11V— M 

46% 

25% RatePur 

uw 

23 16 

854 

44 

45% 

45%— % 

8% 



81 

2348 

flk 

4Vz 

CM 

21% 

78b 

14V Room 
2v RanarO 

JH 

47 10 

12 

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18 

3% 

17% 

3V 

18 —V 
31ft 

66 

17V 

47V Rovera 
9V Ravmk 

M 

7 79 

34S 

5 

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11V 

59V 

11% 

59V— 1% 
11% — V 

49?b 

35 Raritin 

\M 

37 17 

3894 

49N 

48% 

49% + % 

llto 

79b Rental 

ro 

46 

4*5 

8% 

av 

Bto + % 


21V 16V RdBatpf 2.12 120 
24* 20 RdBaipf UfeUO 
Mto 11 RltRaf 183* 9J 18 


17to 84* RecnEa 
12V 7to Rsdrmi JO 
9* 7V Rm 
IV V *vmt 
43* 23 RaldtC OO 
Bto 3V. RdPAlr 
2 IV RepAkrt 
ITto 4to RpGywa OO 
4M 31* RawNY 154 _ 
37V 2016 RNYpfC3-12 115 
57* 52 RNY ptA 651e12B 


10 1039 
14 17 300 

21 6 

•1 

2.1 10 2M 


n u m i7to— * 
T 22 22 22 +1 

UV 13V 13V— M 


Tto 

Sto 


9 

8* 


9*6 

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IV Hb 8V 
to V V— 9* 
38to 371* 38V + * 


34* 21* RapBk 
34 15V RahCof 

32* a* Rtvco 
14V 9V vIRevar 
40V 32* Revtan 
24to T7to Raafrm 
17 llto 


154 

22 


10 1873 B*ft 79k 

178 I* IV IV 

30 10 174 18 9* 9V — V 

U I 4443*45 45— V 

19 27*6 Z7 27 —to 

4 SS 55 55 — * 


40 7 
IJ 

30 13 


3216 29* Ramin ] 

50 46V Ravin Pi 4.10 85 

IBto 101 V Ravin p( 

41 to U RftvMtl 100 3.1 6 
as 2H6 RdiVcfc 158 45 10 
29 17*6 RtaaeiT 100 90 


II 33V 33* 33V + V 

240 24 23* 34 +V 

593 25 34* 24to— to 

95 12V 11V 11V— V 

104 45 13 4630 40to 3916 40 + * 

OD3J 15 6022 21V22+V 

30 9 202 13V 13V 13V 


7594 32* 31V 32 — * 

35 48to B* 48*— to 

2 109* 109*109* 

261 32* 33* 32V + * 

509 37V 32* 32V— V 

57 19* 16* 19* + to 


B* IS* RlteAld 50 20 15 4698 2SV Mto 25* + 16 
TV 3* RvrQkn II 248 4* 4* 4* 

36V 27V. RdMiw 1.12 16 7 51 71* 71 71 — V 

44* Bto RoMm 150 55 17 97 29V6 28* 2SV- * 

791 17V MV 17 —to 
9.1 7 457 Mb 23V 24* + * 

60 18 0 a 38V 3Sto — V 

XI 10 1106 Mto 36 36V— V 

IS,. 

10 — 

15 34 
J 29 


24V 12 
MV 13* RochG 130 
39* 21* RodiTl 144 
39* 27 RockaH 1.12 
137 99 -Rklntpf 105 

71* 48* RahmH 300 
55* 33 Rahrln 
25V 12* RolnOn 50 
29V Bto RatlnES 07# 


56 40 M 


12V 6V Rollins 
4* 2 

T9 12V Ropar 54 43 17 _ 
BV 24 Rorar 1.12 33 1* 1512 

13 t Ronon .12 15 41 

40V 4TU RovfD 3070 54 

22 13V. RoYlntft 18 

5Tto 35V Rubrmd 04 1-7 ,7 

26 I4to RirwBr 13 

19* 15V RuaTop Jt 41 9 

28* 18* RvnnH 100 25 15 

2S* 19* Rvdar a 50 20 9 

2M6 12* Rvtcnd 50 25 17 

17V. Sto Rymer 5 

R»morpfl,17 MO 


- 64 63V. ISto— 1 * 

a S55£^£* + * 

194 Mto 25V 26V + V 
77 10V 19* 18V 
31 Ik 1 2V 

11 a* as a 

57to sSft 5«b- V 
Mto Uto 14to 

SiS* 

18V 18V IBto 
27to 27V 27to + * 
... 26V 26* 26*— V 
43 25to 25V 25*— to 
59 17V Mto 17 
414 12* 11* UV 


SO* 35* SOW 100 44 12 
12* 8to SL Ind 02 1.9 10 
71* 19* SPSTac OO 25 15 
20to IS Sabina 2509170 30 
21V 16 SobnRv 271#155 
IBto 11V StadBl JO 10 M 
10 5V SfudSe 27 

2V 116 SfodSwt 
Mto Tito SnfKIna J* 10 23 
Mto 2116 Safewv ’ 

W* Mto Sana 


+2 


126 
1M 

74 + * 

60 — to 
59to 60 +1 

21V 21V + to 


22V Mto SfJaLP 1J2 80 
UV 9 SPoul UO 107 
1016 3V vl Sal ant 
34to 22V SolOaM M £ 15 


347 46* 45V 45to— * 
23 1216 11V 11V— to 
31 31V 31 31V— to 

240 15* 15V Uto + * 
702 17to 17to 17V 

171 17 MV UV 

34 9V 9* 9V + V 
4 IV IV IV 
... . - a 33 32to 33 

!J0 49 10 1213 32* 3216 32* 

S3 20 11 323 26V Mto Bto— * 


7 71V 21V 21V + V 
41x11V Uto llto + * 
45 «V 4* 4* 

205 30V 29V 30V + V 


** 17V SpteGd 204^ 8.1 .? 413? 27* 27to 27Vi 


.J* *to SJuanB 09# 90 11 447 9V 
llto sto SJuanR 24 3 11* 11* 11V 

SI 31 Sanrfr 56 15 M 194 35V39VXSV + to 

B* J£to SAnWRt 194 7.9 U 41 a 24V 24V— M 

S’* ? F, ® oP 150 aa 13 5213 30to 291* X 

43to 28 SoraLaa 154 15 11 525 « 40* + * 

54V] SO* SoroLpf 353* 65 78 52* 52* S2*— to 


IT Month 
HtaW Low 


Start 


SV a esc 

DV.nd.Pe isos Wgh low Quotaeop 


Mto 27 SotWtt 
IB* 14* SaatRE 
2216 19b SQv&IP 
12* 9V SavEpf 
9* «V Savin 
1316 fto Sovlnpf 150 120 
B 17V SCAN A 2,16 79 
47to 33 SdirPIo Ml 17 U 


UO +4 15 
30 10 42 
158 79 8 
IX 104 


104 

JS 


47to 34* Schlmb 
1B6 716 ScJAfl 

32V TZto saooind 
60* 4Bto ScetPot 
40* 25V SeottP 
MV UV ScuttYS 
4316 20* Scout II 
45 21V SaoCnr ... 

12* 9* SoaCtpf 156 119 
M* 12V SaaCpiB258 129 
Mto 12* SooCpfCZlO T2£ 
27* MVSooLnd 58 Z4 
5 to 3 * SooCo 
44* X Seosrm JO 
21* ,2* Soapuf 

20 SaaMUr 50 


5 31V 31V 3TV-+ * 
® M* UV WV-to 
1» B 21V 22 ._+ V 
7 Bto B 13H + to 
79 TV 7* 7V 
19 12* 12V 12*— V 

* 25 2* m + v 

*71 45V 45 45V— * 


19 U 1 4518 36V 35V 36V + to 

.12 1.1 17 719 Uto U uS-V 
■» « » » 5‘m U* - to 

10 63 59 58V 58V— * 

fflb 40V + * 


XI » 1197 41 


35 M 
14 
1.1 9 


TOk 13V UV- M 
7 4M6 41V 41* 

« 5* 2* ST*— V 
1* IT* 12*- to 
4 UV 16V MV + * 
. » U* Mto UV + to 

6 MB 2BVr 1* 20V— to 
19 4* 4* 4* 

25 12 34 41 40* 40*— V. 

17 77 17 MV 1«V + to 

u M 136 a n K— v 

45 o 9 amaifti! 


32V 21* SoalPw 150 _ .. 

65* «H6 SaortaG 150 U 15 1391 53* 52V a — to 

5* 22L H 9 *» »» 77V 37V— to 

106* 97 Saonpl 9J2ft 99 

31V 19* SacPBCSlJI 45 7 
19V UVSeioU 
36* 2516 SwcCP* 50 1.1 M 
17* UV Shafciop 31 U 32 
25* 11 Showln 50 25 8 
Bto am snoriT 72H u 
Bto 1716 SbetOto Slit 
39V 3* Stearin n 25 13 
Bto 4* 5hsefMt 7 

17 12 ShowM 50 47 n 

UV 1JV SierPnc 150 84 9 
42 34* Stanol 150 24 16 

62 4M Slwript 412 65 
Bto 2514 Singer 50 1.1 * 

32to 2616 Slngrpf 350 115 
II IZto SrvOne M 35 19 
»V 28V J lottery JOc 12 15 
17V 8* SmHIifn JT 35 
70* 50V Sn*B 250 
STftft 3BU Smuekr 151 


41V 29V SnopOn 
1 SV 12V Snvdar 
43* 27 Sgnot 
19* BV SomrCP 
30to 2216 SeoLta 
40* 27V Source 


wavimiesto + * 
™ 29 2BV 28V + to 
7 17V 17V 17V — to 
IIS 36 35* 36 + V 

£ Oto «*- to 
in ZM 23V 23* 
un Uto w* 35V- to 
HD 2£ft 2*V 2flft + V 
ZB 38V 3T* Bto 

*5 «» + V 

n B 12* IS] 

35 19to 10V 19U + U 
919 41* 4116 4116— to 
15 60 S9* 60 + * 

Pj Ml» 3516- V 
23 31V 31V 31V 
281 OV 13* IP* + * 
3 2fV 24V 26V 

40 11 1139 67 66* U&— * 
17 17 32 60V 6216 62V— to 


180 


23 


11 

. 20 
29V 22 
49* 40 
35 22 


1.76 10 13 ... 

2J0 1X0 IS 290 15V 1516 15* 

155 5J 7 1006 35* MV 34V— * 
,16a UJ 12 4377 15V ISM IS*— to 
UO 45 13 210 26V 26V 26V— to 
82 39 39 38* 39 + V 


SrcCppf 250 1QJ 
scrE pf zse tuj 
soJerlii 248 85 U 
Soudwn LOO 25 10 
SontBk UO 35 W 


9 2* 22* 23* 

II 23 25 25 +1V 

3* 2914 2BV 29 + * 

50 4016 39V 31V— V 

- — 572 34* 33V 33V— V 

10 5* ScatPS XI3T315 40 27 7 6V 6* 

27V IBto SCclE s 2J4 75 9 2464 Z7V 27V 27V— V 

21V 14* SouthGe 152 85 711305 21V 31* 31V— to 

26V 17 SalnGaa MO U 1 42 26* 2SV 26 

44 29 SNET1 272 64 11 277 43 42* 42V 

38V 31* SoNEpi 352 95 12 38V 38 38V + to 

26 21V SoRvtt 250 185 1126 25V 25V— * 

31 23 SoUnCo Ml M 163 29V 29* 29*— V 

36 23 South* 150 17 12 4560 36V 35* 36* +1 

16* llto So Roy .12 5 19 603 n* 12V 13* +1* 

0* flto Soumrk OO 25 5 487 7 6* Si 

S3 47 SttnkPl 7.06*144 ,74 40* 48* 48*— 1 

27* 14V SwAkl .13 £ 17 1206 26V Bto 26*— * 

a* UV Sail For 29 340 13V 13 IJ*— * 

I7to 10* SwtGas 104 70 8 237 17 16* 17 + * 

B2V] SS* SwSah 650 75 8 943 BO 79* 79V + V 

» 19V SwEnr 32 Zt 11 220 26V it 3616— * 

25V 17* SwfPS 158 7.3 10 «M25V2S*25V + tft 
17* U*9P0rtttl 52 4.13M 35 13 T2* 12V- V 

27V l£* So«*P . 231 15V 15* 15* 

59 33V Sparry 152 07 TO 690ff SI* SB* Slto— V 

30 30* Springs LSI 45 9 68 31V 31* 31*— * 

43V 31* SqucrO ,54 45 11 1279 39* »* 39*— V 

64V 41 to Squibb 1M 23 16 2537 60V 59* 60* 

24V 17V Staler 50 17 IS 1031 21V 21 to 21V— to 

23V 16* StSPirt 56 24 12 236 23V 23V ZIto — V 

20V 11 SIMrtr 33 27 10 W 11* 11* 11* + * 

SO* 39V SWOOfl 250 80 B 1789 47* 46V 46V 

11 2SS Tito 20V 21 + to 

35 9 382 13V 13* 13V 
12 11 256 30V 29V 29* + to 

34 10 2 31* 31V 31V— * 

185 II 10* MV- to 
IB 3to 3* 316 + to 


21 7* StPocCft 

16V 11 V Standee 53 
31 19* SlantfVk 50 

is* 23* StorraH 15a 
n OVStoMSe 
3* 2* Staego 


II* 


unaiu 

.12 33 


36 7.1 9 34 10V W* IB* 


9H SfrltJcp 

StrScrt 

34to J* Start Do 130 15 13 125# 31* 30* 31 + * 

21 to 15V StevnJ 1J0 64 11 462 IB* 10* MV— to 

3ft 27 StwWm UO 60 16 73 27* 27 27 — to 

12 8* SfkVCpf 150 9.1 150z II ,1 11 + Vi 

45* 32* StonaftV UO 19 8 29 4, to 41 to 41 to 

39 24 SfooeC 50 2J 9 2S3 26 25* 26 +1* 

S3* 36V StopShn I.W 23 11 448 48* 47* 4» — 1 

21V 15* SlerEq 154 8J IS 121 21* 20* 21* + V 

12* 2 vIStorT 672 2V 2* 2to— * 

79* 36V Starar 40 £ 541 75V 75V 75V 

21* 18* StrfMtn 50a XI 133 19* 19 19* + to 

IBto 14* StrtaRt 50 45 30 34 M* 16* 16*— * 

7* 3* SuovSh _ 6 5* 5* 5V— * 

60* 23* SuaBfci UO 3fl 14 1815 4SVb 39* 4Q 

“ IJ 10 5 36* 36* 36V—* 


39 25* SunCh 

14 6* Sun El 

52* 43V SunCo 2JD 
109 90V StmCpf 2JS 

49* 34V Sttadsfr 150 
12V, 7to SwnMn 
3Bto 26 SuprVI 58 
47* 32* SUbMkt 40 
17* 14 Swank 50 
21* 16* Sytoron 158 
35V 30V Sybmpf 240 
15* 11* Svm*Cp 
65 39* Syntax 1.92 

3*b 27* Sysco 06 


45 11 
20 

U 12 
Ml 


153 W 9* 9*— to 
1052 50 40* 48*—* 

5 HB* 101 103* +4V. 

458 45V 4SV. 45* + * 
1159 7* 7to TV. — - * 
146 36* 36* 36* 

JIB 44 43* 43Vi— to 

2 15V 15* 1516 + to 
132 19 18* ISM 

16 14V 34* 34*— * 
_ 100 15V IS* 15*—* 

35 IS 1533 63* 62* 63* +lto 
IJ U 231 34* Mto 34* + to 


15 13 
1.1 13 


S3 16 
53 II 

7J 

21 


50to 34* TDK 
33* 24* TECO 
12* 7* TQ1F 
19 11* TNP 


3 

7.1 f 
15 

US U i 


X36 


13 36V 36to 36V — to 

141 33* 3JV 33*— * 

30 10* W* lOto 

107 19 10* 19 + * 


| Currency Options 


PHILADELPHIA EXCHANGE 
OpHaa A Strike 

U n de rl ying Price Cells— Lad 
Jra Sop Dec 
B5M British Paands^xals per ki8 
B Pound 110 I 2025 t 

13108 US s r r 

131.23 120 3 1050 . r 

HUB 125 S 740 850 

ijijs ix i 5 js' SB 

I3U1 115 S 305 450 

sajeo Canadian DoUary-conti pgr gall. 
CDoilr 72 j r r 

73 S 175 r 

74 e 035 r 

61W wart Ger m an Morto<aet» pgr antt. 
DMark 29 err 

X 1 332 r 

31 S 248 X79 

32 B 152 2.17 

33 9 U7 1J7 

34 I IIW 122 

35 » 045 094 


June 18 


Pals— Lata 
a Sop Dee 


r UO 
095. ZOO 
Lftf.: 650 
ISO. .350 
555 


850 

057 

142 


057 

ai7 

050 

051 
894 


r 

837 


JYon 


Yaw-iooibsaipcept pgr aalL 


154 

104 

OJD 

842 

r 


156 

105 

873 


ixsgg Sate Fimwnh per golf. 
SFranc 33 s r 

% * 

37 s 


029 

857 

159 

128 


030 

r 

r 

r 

r 

r 


» t 

40 • 

41 S 
Total call waL 7071 

Total put voL U01 

r— Nat traded, a— No opikn oflgred. o-OKL 
Lost (a promhim (purchase price!. 

Source: AP. 


370 

r 

1 


r 

XM 

r 

& 

025 

ate 

r 

X40 


060 

1J38 

171 

xao 


1 S& 


171 

173 




223 

41* s r r 

c«n OPM lot. 14X229 
Pgr 0PM btt. 76384 


n Month 
High Law 


Start Pta. Yld. PS WOaHtgfa Law GucL Ch^a 


25V 17* TRE 150 4LT U 

m* Sm»TNW V» 29 W 

Bto 2* TocBogt 
77* 52* TgttBrd Ut U 14 
19* n* ToUar JOa a 13 
21* U Toller pf 150 5.1 
77 49V Tombrd un 4J u 


35« 23to Tandy 
15V 12V Tndrcft 
Mto 51* Taktra 150 
Sto 2* Tetawj 
302* 212V TetdVh 


2*2 24V 24* 26* 

S77 77 7«b 76V + *1 

183 2* 3* 2* 

66 74 m m 

B 17* 17* 17* 

12 19V 19* 19*— * 
KP 75* 75 75 + K 


19 10*1 33* 32 32V + * 

H 37 M 13* 14 +1 

15 I 388 M* 44% SV + to 

A 24 3* Sto Jto— * 

10 411 26Uto255*256* + * 


24 13V Tefrntr J2ZOZ2 4131gftl6tolgk + * 

48V. 92* T*tex Tfl 11N 37% 37* 37* 

39V 25V Tactain M II I 328 35 Mto 35 + *1 

45to 33* TeftaCO X52 7.1 12 4136 41* 41 41* 

104* 88 ToACPr 1150 107 203 TO HB TO + to 

35to 20 Terayn M 50 32 21V. 21* + * 

M* 9* Trtora 40 45 54 W* 10 10 — * 

21% 20* Tecorpf XU 95 7 22* 22V 22* 

40to 31* Texaco 350 8.1 35 2046 37% 37* 37to— * 

38% 31* TxABe UB U I S » 31% 31%— to 

46% 31V TexCm 156 47 6 693 34 33V. 33V. 

39 26* Tex Eta X20 7.1 8 1097 32 31 31* 

34V 25 Texlnd 50b 25 13 15 27* 26% 27* + % 
147% 86* Trxlnta 250 25 M 4641 B2% 95% 9Sh +3 
3* 1 Tgxint 6U ZM 2* 2*- 

24% 15V TrwOGft .» U 10 1683 V4U 16V UV— * 
39 28% TXPOC 48 U 20 11 32* 32* 3ZV— M 

30* 21 TAxUtil 25284 7 9*30*30 3D* + * 

5 2 Texll In 

52* 26* Textron 150 15 13 

57* 28% Textrpf 258 X7 

46* 34% Taxtrpt UO 35 

104* 5* Thock 96 

27 IJ* TherntE 23 

43* 28* Turns 1 3 IJ6 45 16 
IB* 12* Thefflln *5 9 
25* Mto TTwflMtd 40 25 I 
22* 14* Thrthy 40 U 14 
MV 13%T*wtr 58 65 
to* 5* User in 

40* 33% Tlnta 150 IJ 17 

Zltt 12* Thu Pi* 15 

53* 34* TtmaM 1-34 26 15 

58* 47 Tlmkan IJOg 18 U 

9* 6* Tlign 
W* 7% TlhFipf 158 94 
3V* 26* TodShp 15 U 1 
21* 14% TrthtaS 48 iD 9 
19* 13* TotEdM 252 U.1 
27* 24* TolEdpf X7Z 134 

28 Vi 22 TetCdPf X7S 1X8 
26% 20 TofEdpI 347 1X4 
31* 25V] TaiEdPf 4JB 1X6 
18* 14 To! Ed pt 136 125 
U* 13* TolEdpf Ml 135 
45% 13* Tonka » JO 5 7 
53% 20* TaofRtt VU U 
52* 20* Trc ftmfc LOO TJ 13 
107% 92* TrehPf ILOTelU 

17* 10 TorsCa 48 X7 9 
3* 1 Tosco 445 3% 3% 2% 

19* Bto Tew* 48 8% I* S% 

4G* 25V. Toy RU 1 29 1549 38* 38* 38* + * 

2SV. 17V Trace * 32 U 12B4 34% 24 24 — 

20% 7* TWA 77 2142 mb 19* 19* 

IS* 11* TWA pf 225 1X7 431 14% 14* M%— to 

38* 17* TWA PfB Z25 73 207 29* 29* 29* + * 

31* 20* Tranarn M4 52 14 U42 32 31 31% + % 

21* 16% Trsnlnc X22 103 37 Zl* 21* 21* + * 

12V 10% TARHY 150 U IS 6 12* 12* B* 

31V 19V TmCdonl.U 55 8 3 20% 20% 20V. + * 

57* 38* Tronsco Z16& 44 10 18249*4? <9* + * 

66* 45* Tmscpf 357 63 13 58* 57% 57% 

25% I7V Tran Ex 226 107 510 22 21% 22 + M 

13* 6* Trunsen S 21 9 8* 9 + to 

79* 63 TrGPPf 655 75 lOtEQz 95* SO B5V +7to 

102 80 TrGPf 1X32 105 20z 95% 95* 95V— V 

TSto 30 TrGPPt 250 1X0 17 2T4 25* 25* + to 

13V 4to TmsOh 11 73 12 11% U* + to 

36* 29V Tranwy UO SJ 9 13S 31 3BV 31 

39 25V] TmwM 48 U B 2416 37V 36% 17*— * 

21% 9* TaridwiA 96 19V T9* 19%—% 

34* M TMtdPt 250 6.1 5 33 32% 32%—* 

17% 15V TwtdPf 1J0 115 13 17* 17 17to + to 

48% 25V Travter 254 45 10 2920 46 45V. 4S%— to 

SB to 50* Trow Pi A16 74 B3 54% 56* MU — to 

27V. 19% Tricon XXM1X5 122 26% 26 26 — to 

30 20* TrtQIPf 250 9J II 27% 27 27* + to 

13 13 Trtcind 40 14 31 38 29* 30V 38*— to 

31* 20% TrtoPc 150 X? J — ~ “ “ 

48* 24* Trfbona 54 15 17 

6* 4 Trtartr Me 15 B 

•to 5V Trlca JO 13 14 

37* 12% Trirtfy JD 16 

25V Uto TrttEno .Wb 5 30 
u* B* TrltEpf 1.10 X6 

41% 30 TucsEP 350 7J 10 

ISto 9% Tultax 44 15 12 

19 16 TwtnDs JO 47 10 

41 30 TraLb JO XI 10 

17% 11% Tylers 40 X7 7 


95 4to 4 4 

660 59% SI 52 + % 

9 56* S6to 56* + * 

3 *6 45* 46 +1* 

U Tto 9* 9*— to 

121 26 25* 26 + * 

228 36% 33% 34* + * 

M 15* MV. 15* 

37 15% 15* 1516— V 

135 21* 20* 71* + * 

268 14% 14* Mto— to 

536 7 6* 4*— * 

615 57% 56% 57 — * 

2D 14* 16% U% 

771 S3% 51% a*— to 
440 48* 47* 47% — * 
25 7V 7to 7*— * 

11 W* 10% 10* 

74 29% 29to 29to— % 
140 16* M MV.— * 
5 1366 19* 19* 1916 

136 2* 27V. 27* + to 

68 27* 27* 27U.— to 
21 2$% 25* 25%— * 
ID 31% 31 31V + V 

30 II* 18K 18* + to 

7 T7% 17 17 — M 

419 41* 40* 41 Ift + y] 
54 47 46% 46*— % 

248 46% 45* 45*— lto 
m 108 187* 108 + to 

41 14% 14* 14V + * 


405 27% 37 27 +* 

467* 47 45V 46*— * 

12 5% 5% 5% + M 

36 6* 6 6 —to 

UO U 13* 13% + to 

279 20% 20% 20* + % 

49 12% 13% 12% + to 

246 41% 41* 41* + * 

72 12% 12* 12% + * 

II 17 17 17 — * 

105 3SV> 38% 3BV to % 

63 14% M* 14* + % 


U 


150a 15 
Z40 73 

M 

X04 U 10 
X7S 115 


...j 32* UAL 
36* 25 UAL Pf 
15% 7% UCCEL 
34* 16* UGI 
25 19* UGI pf 

llto Bto UNCRes 
14 10 URS M 35 M 

38% 17* USFG 220 60 230 

40* ZZ* USGs Ml U 7 

>02% 75 UrXNV SJtoSJ ID 

41% 31* UContP U4 45 11 

57* 32% UnCort 140 7.9 TB 

7* 4* unlonC 


9 2067 54% 53* S3*— to 
1151 33* 33 33% + to 

657 12* 11% IZto— V 
119 2Jto 22* ZSto + to 
69Qz 25 25 25 

275 9% 9* 9* 
x u* u li — to 

701 37 36* 36V + * 

588 39% 39% 39% + V. 
231 101% 100% 108%— % 
958 37% 36% 36% — * 
3028 43* 43 43 

73 5* 5* 5* 


12 Month 
High Low 


Sts. Clyff 

nr - e 


f l9% 12 UnElec l.ia *A 
* 33* UnElpf 450 u.1 
to 24* UnElpfM40O 1X4 
49* UEIpft. 858 1U 
■gp m UnElpf 288 1X1 
im UnElpf xu 115 
36* 19V UnElpf U2 1X2 
66 46 UnDpI 754 1U 

BJJ 34* UnPoc 150 XI 
I IfV K URPCPf 133 4 9 
9Mk Wto UnlrovI .U 9 
70 » Uteylpf 858 1X7 

» 3to LnttOr 
IW6 Uto UfiBmd 11 

wm 9Jb UBrdnt 
«V6 22* UCbrrv .14 J 65 

B% 32* UnEnrg 2J8 9J 20 

U* 9 Ullhim 250 1X7 3 

39* 19* UiUw pf 197 1X9 

IT* u% Ulttapr 220 122 
39* 31* UtUopf 450 13J 

J" mm pt l» vu 

B* M* UntHrta 50 27 9 

o 2S% Uottlrm 22 £ 36 

42% » UJerSk 156 X6 10 

16* 9% UKUIM 11 

2V 2* UPKMn I 

3B* 22 UmJrG .J2 J I 

Mb 5* USHorn 
42* 29* USLosg 


6 480 W* l?W If 6 
»* 

S* S* +’* 

Tint* M i 6 44H + Jfc 

11 2310 47* 66% I? 

43 Wfto 1£* I®* - * 

13 1M »» » . ... 

SD0Z5S* 57 «* +1* 

73 3* 3% * 

11 1679 17* 16* 

687 IS* IS* 

65 60 42 41% 41% — * 

20 116 37* 27* 27* 

3 315 MV 18* 18* + % 
14 28% 38* 38*— to 

1 58te M 17* 18 + to 

13 29 28% 39 + V 

16 14 15* M - * 

9 342 23* 21V 32 + to 

“ 1 42* «JV «* 

*1 43% «% U* +1* 

46 13% U* 13* + * 

M 2* 3* J* 
m ******* 


470 38 


ftn 22 | 

4Dto 23 USShoa M 22 15 - 

n UMtaal UB 33 U 3361 27 26% 2g6— to 

B* 49% USSH pf 641e1Z2 524 52* 52U 53% + to 

IWtim USStf PTI2J5 1X1 UB 1K% 1%% l»to— * 
30 5% US8H pi 12885 96 3* 28 28% + to 

39V 33% USTeh 139 46 13 296 37% 37% 57% — * 

79* 57to USWtfi SJl 12 9 1374 80% 79% 79* + U 

U 6* USfrt n II 3 7% 7% 7% —to 

2S U"If«h 1-40 34 • 4971 42% 41V 41V— 1* 
3Jto 3** UTrtPf 255 65 389 37% 36* 3gb— * 

» 17% UnlTAt M2 XI 9 80 23% 23* 23*— to 

US 66 12 93 19* If* 1W>— * 

JD J 14 309 2Mb 31* 21* 

jo 63 7 i in in in 

JDa J 17 1627 25% » 25 — * 

1.12 45 B 34 27% 27% 27% 

158 45 7 53 20% 30 20%—* 

138 43 7 1348 2M 3 28* + to 

3199 28* 28 28* + * 


7t 14* UWRft 

33V 21 unltrde 
20* 14% Lfnlvor 
27V 7* UnvDav 

28 19% UntvFd 

23% ISto UnLaof 
53 28 Unocal 

34* 27* Unocfwd 


1WV 45 Upwm X56 U 30 1904 1D4 101% 187% —1% 


43 23* USUFE ,54 29 10 

TO* 8% UtateFd 1540105 

26 38% UtoPL 232 95 14 

27 Zl* UtPLat 250 105 

28 Zl V UIPLpt 2JC 1X5 

23% 17* UtPLpf 2J6 10J 
20 15% UtPLpf 254 104 

24% 15* UHUCo 132b St 7 
22 II Utnconf 2^4 UJ 

24 18% UfflCoprlAl 11.1 


7C2 36* 36 3616 + to 

45 1A* Iff* 10*— * 
541 25* 29* 2f%— * 

9 26% 26% 2gk+ * 
25 27% 27V 27% — to 

6 23 23 23 + % 

6 19V 19* ]•%— to 
53 34V. 23% 23% — * 

10 22to 21% 71% — to 
3 22V 23V 23V— * 


XI 


» m% VFCorp xu 
it* 5* Valero 
23* 14 Voter Of 144 146 
4M 2to Vatavtn 
28to if vanDrn 91 U 


4* 2to Varco 
46* 26% Vertan 
13% 9* Vara 
25* 18* Veaco 
8* 3* Vends 
11* B% Vasts# 
48% 26% Vtacom 


36 . . 

M 26 IS 
58 13 12 
158 

lJoams 
-43 5 21 


45% 36V VaEPp# 550 1X9 

72to 54 VaEPpf 732 183 

73 52V Vae P4J 732 115 

67V6 50V VbEP pt 7 JO 1X9 

2346 11* VttaVVS 

45V 28 Varnad 

7816 61 VulaiM 250 16 


9 418 36 35* 3Sto + * 

2065 12* 12* 12* + to 

109 23* 2346 23V 

18 2* 2* 2* + * 

A 63 22 21% 21V + V 

108 Z* 2* 2* 

9 13 1177 27* Z7% 27V 

i<B uv Uto uto— u 

386 IS* 17% 17%—* 

100 Sto 7* 7*— % 

TO 11* 11% UV— * 

918 <7to 46% 47 + to 

200z 46 45% 46 + to 

1S0Z 72 72 72 — to 

10Z 78 70 70 — 1 

1140x 66% 65* 66to + % 
26 20* 20* 20*— to 
53 45V 44 44to — * 
22 77* 77 77 — * 


W 


29* 22% WICOR 230 
38* 21V Wochws 150 
23% 1C* Worttlt 50 
10% 6to WafcMC 
56* 36M MtalMrt J8 
30* 16* watoms 54 
23V IS* WfcHRsaUO 
am 25V WafC5Y AS 
3946 22 WoMJm 150 17 
29% Walt J Pi 160 XI 


79 a 

IS 11 


26% 17% Wbmca JB 
30V 17 WrrtCm 
42% 28* MtararL 158 15 IS 
22 14% WashGs 156 76 9 

28% 15% WSftNof 158 45 7 

23V 16% WdlWt 2-46 1X3 9 
am 28* wtatae 92 u 19 
2 B% 20 WafkJn J6 U 11 
>2% 8% WayGaa JB 23 9 
26 19V WorGpf 150 85 

12* 4U WeanU 
21% it* WabbD JOe 15 15 
48 29* WetaMk JB U 15 

Alto 30* 4WWISF 2-40 45 8 
49V 40 WMF Pi 45781X2 
Sto 23* WrIFM 250 1X4 B 
19* 11% tBfandvs J1 U 19 
2716 IBto WestCo 54 M 14 
41* 34% MfMPtP 2J0 56 13 
13* 9* WltcTTp 154 22 

8* WnAIrL 80 

% WlAfr art 
Bto W Air pi XOB 1X0 
5% WAIrpf 114 93 


13 2916 29 29% + to 

338 25% 14* 35* — * 
13 Iff* 18 18* + * 

186 7* 7* 7*— % 

J 27 1084 53* S3 S3 — V 
15 18 UTO 27% 26V 27* + * 
147 22* 21* 22 — * 
U 14 a-35to 35 35* + to 

a 703 38* a 38% + * 
3 51* 51* SI* + % 


7 H 

1 2* 
22 * 
23* 


17 13 25 34V 21* 24 

7837 30% 29V 38* + % 
2349 43* 42V 42% + * 
UO 22 21% 21* + * 

M- 23* 22* 23* + * 
665 24to Zltft 24* + M 
9C7 57* 56% 57* + * 
289 25% 24V 25 +% 

19 8 9 

aaaa — % 

64 6 51] 5%— * 

1010 21 2016 21 + % 

H 39* 39% 39* + * 
172 59* 59* 59% — to 

33 47V 47* 47* + to 

M2 25* 24* 26V— 16 

1525 M 17% 17*— * 

43 25 24* 24*— to 

93 39% 39 39 — 16 

7 Uto Uto 1316 + to 

1450 4* Bto 6% 

93 2 1% 2 

17 20* a a — * 
a 21* 21* 21* + * 


12 Month 
Utah Low 




Start 


Pte.YM.PE MteH*hl5wttne.ate6 


B3C A WCNA 479 f* 5* M 

10 8 126* 136 136* + * . 

T S£ 1% wSSJb 12V Uta 12*— % - 

P IS ffiCdPI* 

si £ SHc 35 *i s S S5 S* S*7V 

4M4 SJKrt S 4J if •?? » a»-to 



A7 

M 


.18 

158 


44* 34% Wayrpf 250 
51* 43* *WP *99 
24* 6* «1W£H 
40 14* wfWPltpfB 

38 ip* vniwipjtp«„ 

49V ST% WhtW MO 

32* 24* WhIJC 150 15 
42% 36* WMtCpfOM 7.1 
31 17* WhWeW J2 

25* 14V tttltlftak 50 XA 11 
1216 A* WVfOitM « 

14* i wnwn >’ 

31* 23% Will ken 150 SJ 4 
5* 7 WlftnEI 
BV 4* WW'p 
36% 25% WtnDfx 
TO* 7% whtttao 
13% 5* WVfter 
7% 3% WhiterJ lt , 
38% 27* WhcEP • 

77% J9V PfltaipJ 725 W3 
* 23* WIsG p! 255 W „ 

36V 25% WUcPL 254 75 9 
OTfc £* WlaePS 254 69 ? 
BOV 27* Wltco I5B 4j J 
15to 9V Wotww 3j a 
23% 18* WDodPt JO X7 14 
47V 32 WWWBl ZOO 4J M 
66% 46V Water pf Z20 U 
4* 2* WrMAr 

*9% SO* Wrttrty 
5* 2* Wuritw 
U 10* VVyfeLb 
23% 16% WYTtaS 


» 41% 41% 41% + % 


11 


50 


HB a 49% » +* 

it n i a —to 
470i 20* WH 20* +1* 
llteMto 15% 16% + * 

U M 1*47 47* 47* 47% — |ft 
437 37% »M 27V— 2 
11 42% «V 42* 

134 30% 29* 30* + * 

■9 23* 23 33 7 

24 9* 9% *% + % 

s» u* Uto u% + % 
t»ta 28* 27* a —1 
102 5* 5 5 

34 6* 6% 6%— * 

201 34% 34 34 — * 

447 10* 1DM 10*— * 

21 6% 6* 6% + to A 
HAMM 
3ij mi 37% a 

lOOz 75V 73 75* +1* 

1 25* 2S* 25*. 

117 25* 35% 35% - 
113 36* a* 36* + * 

47 34% If* 34%-* 

10% 10% WV + * 

21* 21% 21* + * 

47* 46* 46* . 

66 66 16 +1* 

1% 3% 3%— Vft 

«7to M «*+* 

2* 2* 2* 

277 II* 11 11 

21 17 16* 16* 


15 IS 
49 13 
1.9 9 
42 


i2J 12 


25 13 
35 7 


SO* 3316 Xerox UO 
54V 45V Xerox of 555 1X1 
a 19 XTRA 54 26 ,0 


*• ai « m ss 


*** 


33 24* 24%. 24%—* 


Mto 2t 

21V 10V . 

56 2S Zovrai 

a is* zonimE 
21* 15 Zaroa 


ZoteCP 1J2 
2W* 54 


45 9 

xi a 

9 in 

a 

u is 


35 29 28% » .. . 

741 ID* Wto TOM— % 

543 M* 54* b«C+% > 
440 20^ mt 19* + 


19 17* 17* 17%. 



MSE H^is-lows 


fit 


NEW HIOHS M4 


AnwrTXT 
AmSouScp 
Balt Gas El 
BeHHMfOtl 
CIGNA Co pi 
CanHudGas 
ClnnGas El 
Ctalra5tor 
CwE 190Pt 
Currlncom 
OatE972pf 
DukaPptG 
EoatnUUI 
FtFdiArtx 
FI Dooms 
G landotaFta 
Horson 
HouoMMif 
IIIPw 7S6Pf 
owoRnrci 
KonaPL232P 
LILCnpfB 
Maple Uni 

MdwtaEnoy 

NYStoEG 

NIMAIDpI 

NSPw456of 

OhEd 35Dpt 

Onnr Rk 

PanABi* 

PflEl I712pf 

Prtmark 

P5NH 425WC 

PSNH345pfG 

RTECorp 

SeoCntLtdpf 

StPacCoTPS 

Trtaunkadl p 

UnE1272pf 

UnJgrsvBk 

VaEIPSpf 


AmTT ptA 
AaPwZSSPf 
Bk Beaten 

BcIlHwl pfA 

CPC Inti 

CanMePar 

OoG4pi 

CtavElac 


AiriTT Ptfl 

^Swvd 

CftntvjPS 
CtnG744pf 
Cota Point 


AmarieUn 

Appwaspf 

BoakaiVBft 

MUM- 


CapHttdadl 

h6a 


ChasMohi 


CemmrithEaerConsu Pawl 
DavtPLptO DatmarPLt 




DtaarsEne 1 

DuqLt 270pt 

BiPasGsprP 

FtflntrtaBa] 

Gaatnc 

Goadvaar 

HawallEt 

Houslrat C2S 

ImpCsAnt 

J#fC926pi 

KantekvUt 

Loral 

Mattel Inc 

MlnnPkvU 

NIM390pf 

ptartanrScp 

NSPwdMpf 

ObPar375pf 

Orton Ptct pi 

PaPL458Pf 

PhEITSBPf 

PdbSvcCal 

PSNH 375pfD 

PubSNwMx 

RavrPdtnda 

Sierra PocR 

TECO _ 

Transom Cp 

UnEi744pi 

uswnt 

Vomodo Inc 


duPnl BOpf 

OuaLI720pf 

FamDirsti 

FtaWlK 

GMtr37Sa« 

GIVUNMqf 

HmeFdlSD 

hjohoFtari 
lateral Pw 
JarCanPBpf 
LomtUMoa 
LoPtaUPf 
Mattel wt 
NBDBCPS 
NIM485P4 
NorStaPw, 
OhEd TTOpf 
OhPw 227pi 
PocHTta 

PhE^iStof 

TSSGttk 

PSEG 1344pi 
SPSTach 
SGorEGPf 
Tea Util 
TrGPL66Spl 
Unit 1 1 tom 
UtllCa244P 
Worn Lamb 


CwE l 
CnPw4S0pf 
DatukOig 
Duka Paw 
EmnAtrpf- 

FtawScOX 

!?»• 

BBS*- 

Ml dBo a Ut. 


W.f'"" 


JlJ- 


iMf ■ 

w 


r* M 


_1 «.\*' 


NIM525W 

NSPwSCDpf 

OhEd 724a4 

OklaGE 

PocfftCorp 

PhEIMIM 

Poiom glee 

PSNNTftafh 

PSNH325WF 

PSC122M 

Scan Paper 

SouiMoad 

Toledo Bd 

Uneitete. 


Jifl 
fis* 1 - * 
a i- ‘ 
,\<> v 
pt.' 


UMljtmtPr 

1IC0241P 


unit 

wash jimp 


NEW LOWS 23 


AVXCP 
Burmtv 
DatnOratan 
Ideal Basic 


AmpcoPttt 
Cbi ind 
Estarina 
RV 


McDrmlntwt MasoPtrl 
* Seuthdam 

bwokiCp 


AtkWCP 

CLCAift 

Ftoxtnro 

LTVCpAA 

MkftndRtni 

SnataPpys 


AV 

ipf 

Gaarhlnd 

LTVCepiA 

Onekia. 


j USl ftitunes 


Jane 19 


Htoh 


Open High Law Close Qg. 


Grains 


I (iKrmHMlhk^ 


Jurw 19 

HONG-KONG GOLD FUTURES 
U XI per owner 

High LOW iff"*** AU. 

Jun .. NT NT 325in JTTJM 321 OD mnn 
Jl* . . N.T. N.T 326.00 32X00 372.00 32450 
N T MM 13000 32400 326JJ0 


Aug _ NT 

Ocl _ 3JTW E2.ni 111 00 33300 321 00 11900 
Pec. NT NT 33500 337 00 33IJW 33350 
erb _ 5J0JW 340 W 139 00 341 « SiOO 33100 
API . hi 1 NT 3Z3JM 345.00 33900 141 DO 
ftttume JilotsoilMui. 


SINGAPORE GOLD FUTURES 
U5.t per oanco 


HM 

Jun N.T. 

aub jiruo 

r*p n.t. 

LVI NT 


Prey. 
Lew 
N.T 
118.00 
NT 
N t. 


woiLine 13 T lolftof loo o: 
Scjrcr STvc’e! i 


Settle 
325.20 
328 00 
N A. 
332.00 


Settle 

32X00 

374a 

316.70 

nut 


IhiNin Itilfls 





Junr 13 


Otter 

tote 

TWd 

u 

3* *bOnih 

66* 

665 

641 

6*4 

r- monm 

in 

6T0 

7.14 

135 

-»x twr 

699 

ft+7 

IM 

15* 


Bmri'r teitw ft thrri 


.Vw iff™ 

COOT 


BOND 


FUTURES 

! ZZ3 & r~i 


FUTURES 

OPTIONS 


Also Futures And 
Futures Option. t an 
COMEX-C.OLD & SILVER 
1 MA1 -CURRENCIES 

Lrr i —i.iw Herr. 


U5 ' fi 


NO l\ XN 
VNM 
KSIt.il I 


IWify ■■Mi l I'k+r 

i'll ilT.'iR K Jtil.iiMWlft/W 

, wi~.'l. J . |r F.nl Jt/I 

■ >.’t niwtd turn 


I > ■/. ■nr/ittihVIldUllS 

2 12-221 -"1 38 


BEPUBUG CLEAB1XG 
COBP0BJSTI0N 


r «!> vl st man 

ftn taker if 


Bepabifc IfatfaMl Bnh of bv Tort 

, - ]■ fk«',« i i^iiiiwyiiiI I La A 


WHEAT fCETl 

5500 bu ratal m u nv doflora pgr bualwl 
X9D X12to Jul X27 127V U6 125% —JO 0% 

X76V 115 Sep 127% 328* U*% 127% —51 

163* X1B Doc 134 134* 133 133to —51% 

174* 12716 Mir 134 134V 132% 322% — 21% 

402 116 May 124V 124V 122(6 322* —SOVl 

172V 195 Jut 3J6V 106V U4 34M —22* 

EstSdea P rev. Sale* 5226 

Prew. Day Open lot 4X1X2 ua465 
CORMCCBTJ 

SOOO bu mtntakam- dollar* pgr butatal 
131 X72 Jul 17AU X77% 175% 237* +JM% 

131V XSF% Sac 258V6 258% 25716 258* +J50* 

195 151 Dec Z51% 253 251% 252% +J0to 

IM 259% Mar 251 263 240* X61 % +20* 

121 to 252V May 253% 255 352V 255 +J30* 

XM 252V Jul 25316 254% 253V 254% +_0U% 

X86* 248% Sep 249* X49* 248 358 —SO 

Est Soles Prav.Salai 21410 

Prey. Day Open IntlOUU up 14X7 
SOYBEANS fCBTl 
55ntni minimum- dnllare par buahel 
7.99 156V Jul SJ4 534 528 5J9V —55% 

754 552V Aug SJ5V 5-75% SJOto IHto -J5 

A71 546V SOP 556 556to 551 553* -J3V 

549* Nov 557 547* 552* 555% —St 2% 

$-79 558% Jan S76 5-76* X71% 5JS — m 

7J2 559 Mar 544* 5ASV 55 TV 545 — 43 

739 537 May 5.94 194 5.90 193 -43 

551 IJI Jul 199* 199* IM 199 -48* 

EsLSotal prav. Sales 2L5B5 

Pro*. Day Open Int. 47J70 up 1444 
SOYBEAN MEAL CCBT) 

1 M Ions- dol tan per ton 

1M50 117543 Jul 12148 0440 12X40 133.10 —to 

18X00 12050 Aug 12540 1 2 6- 5 0 12500 12170 

SAP 0X20 12840 127 JO 128J0 

Oct 13X70 13,40 12940 13040 

DOC 13640 13520 13540 13580 

Jan 13X00 13X70 1X740 13750 

Mar 14X50 14340 14140 14240 

MOV 14640 14740 14640 14118 


High 


Open High Law Close Cha. 


High 


Low 


Ooen High Low Ckm Cha. 


ORANGE JUICE (NYCE) 

15400 ftn.-cant» par lb. 

1B4JK 13X70 Jul 14135 14440 14125 ,4135 

1B20Q 13630 Sap 13X50 13975 13740 13740 — UO 

1BIJB 13640 Now 13435 13X05 13440 U45S —250 

IBXOO 13160 Jan usjo r%ro iwjo 134JS — iw 

17740 13640 Mar 13640 13X95 13540 rwen —150 

16240 13X70 Mar 136-45 13X45 136-45 135.10 —140 

15740 14220 Jul 135.10 —148 

18040 17973 SAP 135.10 -148 

Nov USJ0 —140 

Eta-Salea Prwv.Satae 218 

Prew. Day Open lot 5409 up 36 


91.15 

9041 


8673 
8740 
87 JO 
8754 


Jun 


«8l91 

9X64 

9X23 

9044 


TOM 


9029 

9041 


Metals 


COPPER (COMEX) 
2S400 lbs.- cents par ftx 


17940 

1BX5Q 

18446 

16340 

20X50 

16X50 

16740 


13050 

12168 

iaun 

13140 

13L5D 

139.18 

14340 

M7J8 


—3D 

—.ID 

+.18 


Jul 


1X643 

Prev. Day Open Inf. SI431 up 871 


MUt 


+.18 

+.» 


London 

ConuiMHiities 


Aik Bid Ask 


Ju* 19 

□am 

High Low Bid 

SUGAR 

StArilao par metric ran 

9340 Six 8X80 8740 9350 9350 
9480 S7JO B780 8840 9440 «5J» 
99 JO 9180 9250 9340 9940 10MD 
Jl 1-40 1050 10350 10440 11150 11150 
11440 11040 10750 10940 11440 1IS50 
11950 11940 11340 11540 12X20 12050 
N.T. N.T. 11740 11950 12450 12440 
1.791 lots of 50 ton*. 


OCJ 


Mar 
May 
Aeg 
Oct 
Volum 
COCOA 

Sterling per m etric fog 
JT JJ76 1J60 1767 1J«9 1,771 1J72 

SAP 1773 1702 1717 1718 1717 1718 

Dec 1589 1575 I5U ,589 1586 ,587 

Mar 1705 159S 1.702 1704 1599 1700 

MW J.JJ0 1717 1719 1718 1719 

Jhr 1739 1720 1728 1.729 1J2S 1738 

Sep NT. N.T. 1735 1738 17M 1740 

Volume: 3588 loro si 10 tom. 

COFFEE 

Sterling per metric ton 


Jiy 

Sep 


Jan 


24IB 2401 2402 2405 fr nrf Itn x 

JS? 1050 ’ um 1073 

2*11? J9K JH 1 ww 

2.14* in 2.IM 1134 1151 1152 

1145 1132 1130 2,132 2148 2152 

27« !■!« 11* 1150 1150 1160 

Z1S0 X,» 2115 1155 1140 2170 

Volume: Xtaf lots of 5 Tons. 

HftWlL 

U.X del Ian per metric Ion 
jly 21475 31240 914JS 214.75 21340 31325 
21100 21X00 21175 21140 211JM J11JS 
21100 21X00 31X75 31140 21140 71125 
21150 21125 21240 21340 21340 J13J5 
21175 31540 21475 21640 21540 2IS75 
71775 21775 216jq 21X00 J1SU0 J1940 
™ N.T. N.T. 31X40 21B40 21640 71940 

Feb N.T. N.T. 21440 71X40 21540 21940 

«*«r N.T. N.T. 31040 21X00 21040 71940 
Volume: 1400 tali of in Ians 
Souron . Reuter* ano London Pefratewm Ex- 
chonoe foaeolll. 


Aeg 

Sen 

Oct 

Nay 


. S&P100 
Index Options 


w 


CoOvLM 

PriaiJM A bl lit 


11 - 
»*>. i;^ m, 
eh r-. Pi 

IH 4 Sto 

n lto 2% 
IT* lilt lto 
I/I* lilt ri 


PatvLofl 

JW Jt tea sep 

1/16 hi* vl* % 

m« SfM iim i 

to tint i % tv 

4 4’k 4tft 4% 

9 i Pi r, 
~ — ut. 


nwcuiyotuM nun 
lOWccMaanlit.tfLUi 
TkMkai latent HUSO 
Trtdota am M. 47Mlf 


HkA 1B1.4J LOTI <4011 CtoNUIXIi-UI 
source : CBOE. 


DiYI Futures 
Options 


ir German Mott IStW marts ita*i permit 


Stake 


Cate-Sene 


jane 19 


Pria San 

INC 

Mgr 

Sen 

Dec 

Jl 

127 

173 


0J9 

05* 

9 

139 

XI0 

— 

058 

8T1 

XI 

103 

111 

IN 

0.99 

19 

34 

062 

1 14 

,58 

154 

147 

35 

oas 

0J0 

Ijf 

228 

250 

» 

DIV 

058 


109 

in 


D« 

MS 


EUbmtN total ml UM 
Cate: Tip ygi.Mnopeatai.2UM 
pmi : Tue »el. i j»i bom lot \KTP 
Swrce- CM£. 


Gomnmlhies 


Juae 19 


High Law Bid 

SUGAR 

French fro am per metric taa 
Aug 1717 Lite 1.195 

Oct 1730 1705 1705 

Dec 1J40 1 J35 1715 

Mar TJ80 1750 1755 

May 1J20 1J9D 1J90 

Aug U90 U60 1J60 


1796 -a 
U07 —33 

1325 —19 

1760 —27 

i too —a 
1J7TJ —30 


Eat. voi.: MOO KXs ol 50 tans Prey, actual 
satas: 1443 tots Open Interest: 1X667 


COCOA 

French Cranes par 108 kg 

Jly NT. NT. 2435 

Sen 2445 2431 2432 

Dec N.T. N.T. 1,990 

MOT N.T. N.T. 2400 

Mov NT. NT. 2410 

Jl» NT. NT. 2415 

San NT. N.T. 2420 


— 5 


2490 
3445 
2015 
2420 

- —10 
— —10 
— —10 


Es>. wot.: 25 lots of 10 Ions Pro. actual 
sates: 59 tats. Oven interest: 732 


COFFEE 

French francs per 100 kg 
Jly NT. NT. 2454 

SOP Z445 2/430 X431 

Nov 2-4*6 1460 2MD 

Jan NT. N.T. 2480 

MOT 2420 1520 2-495 

May NT. N.T. 2-495 

JIV NT. NT. 2499 — — 10 

Ed. vol.: 21 lots ot 5 tons Pro. actual sales: 
31 tats. Ocen Merest: 405 
Source: Bourse du Commerce. 


TAX —16 
2-433 — IT 

2480 —32 

2425 —20 

2-530 —15 


j li)udon .\letob 


Jane 19 


Previous 
Bid ASfc 


79550 

81*40 


cio«e 

aw ««* 

ALUMINUM 
Start im per metric ten 

• 79440 79450 79450 

ward BM5Q 81540 81550 

COPPER CATHODES (HWt Grade) 
Sterling per metric ton 

I 1.11540 1.11X40 1,12940 1.13040 

ward 1.12X00 1.12850 L13X5D 1.13740 

COPPER CATHODES (Standard} 

SferHag per metric too 

«wt _ 149940 1,10040 1-11140 1.11340 

toryrard 1.11740 1.11940 1.12340 1.12X40 

lead 

Sterling per metric to* 
son, 29740 29940 30440 30640 

tarward 29B40 39940 30340 30350 

NICKEL 

SMrtlae per metric ten 
Spot A.THW 47B540 « z rwan 

tarward ZTen i.twm mw 476540 

SILVER 

coper hey ounce 

, ; _ «seg 44740 wxso 49150 

tarward 50040 50240 50640 90740 

JIN (Standard! 

Start ing per metric taa 
y**t 958540 940040 959040 940040 

f W*"»rd 9430R3 943540 948840 949000 

ZINC 

Start ing par matrtc too 

99.80 56148 56840 5JT1JC 

tariwd ^ 55740 55840 36X40 SOSO 


IS’ew Zealand Jobless Down 


Return 


WELLINGTON - New Zea- 
land's seasonally adjusted unem- 
ployment fell to 3.6 percent of the 
workforce in May compared with 
3.7 percent in April and 4.7 percent 
in May last year, the Labor Depart' 
tom announced Wednesday. 


f Cash Prices 


Commodity end Unit 

Coffee 4 SantaxRL. 


J**e 19 
. . Year 


Prihtdottl 64/30 23 V, yd 

Start billets (Pitt.,, tan 

Iren 2 Fdrv. Philo, tan 

Steal scrap Mo 1 hw Pitt. „ 
LaodSpaf.lb 


- Lib . 

ttetStrotts).*. 


StcE.SU_Bosl*. lb 
PaltacOum.ai — 

Silver N.Y. k 

AP. 


UO 

exo 

47140 

21340 

7071 

19-21 

67-70 

X4877 


Ut 

636 


1 

47* 

n 

IM 


j Dividends 


Company 


J*«e 19 

Par Amt Pay Rec 
DISTRIBUTION 


NRM Encniv 


- 55 8-15 6-18 


INCREASED 

Ameskeaa Bank Q 75 

Fla instltulkmtt O 44 

STOCK 

Frt Commarctol - «»*■ 

Gibson CR. Co. 

intach Inc 


MS 

7-8 


£8 


- 21 % 
. Sto 


7-16 

7-31 

7-12 


*53 

m 


STOCK SPLIT 


Resteurtatt I 


USUAL 

Am^BuIMne Matat 

Bankers TruB NY 
Bankari Trust NY 
boh Ber on ek 
B runsw ick Coro 
Control Bancorp 
CetiteTTe Bancorp 
Comcost Core 

cpc inn 

DCNY Corn 
OawJones&Ce 
Fair Lanes 
Feoerai PaaerBd 
FlflTi Third Bcp 
General Defers* 

jar Manufacturing 

Many H anover 
Mldtontie Bonks 
My tan Labor a t o ries 
Noll Paitrt Dvomnl 
Penn Traffic 
Rest Mtengamant 
Sped rum Control 
Stone & Webster 
UniobnCo 

Volfcy Resources 
VMS Short Term 
Inc 

htaodstreom Corn 



A-AimaatJ k+Menttrir; e-aamtorty; S-Sanrt- 


Saurce: VPt. 


United Overseas Bank 

Writes Gfi 0TB Holding 


3042 
2978 
2X2S 
27 JS 


SOYBEAN OIL (CBT) 

60400 to- do Bn per 1 00 Iba. 

32J2 2270 Jul 3X32 

21.95 2250 Aug 2971 

31.10 2250 Sep 2X15 

3X37 22-90 Od 27JS 

2955 2190 Dee 2X20 

2947 2160 Jon 2575 

2X60 24-40 Mar 2570 __ 

77.45 2470 AVy 2470 25.10 

2575 23.95 Jul 24A5 2AX5 

25.15 M68 Aug 3450 2440 

Est. Sates Pro. Sates 1X861 
Pro. Day Open Int. 615M up«M 


2944 2990 —52 


2755 

2695 

3X86 


2555 25AJ 


2445 

2455 

2438 


Z749 

3695 

3X18 

2570 

2545 

2545 

2445 


—41 


-06 

—.13 

+45 

—42 

—43 


OATS (CBT) 

5400 bu minimum, del lari per bushel 
1J|V 147% Jul 150% 150V ,41* 149% _J1% 

J-79 145 San 144 14*% 143V 144V. ^00% 

142V 140V Dec 140 149 148 140 —41 

157% 150% Mar 151 151 150% 150% —41V 

M» 157 May 15* ,5* 154 153* —81* 

ES. Sates Prev. Sates 426 

Pro. Day Open Int Xon up <2 


Livestock 


CATTLE (CMC) 
*8400 rutr cent* oar 10. 


6950 

5777 

Jun 

5770 

5065 



4035 

Aug 

4060 

41JJ7 



48.19 

Od 

4,75 

4X15 



6150 

Dec 

6295 

6350 



4X10 

Fefc 

4X45 




6350 


6462 

4&1D 


6675 6535 Jun *575 6X45 

Eta. Soles Pro.sotei 21-TO1 

Pro. Dov Open int 47.445 off 404 

6X30 


5X30 

6X87 


6X30 

6438 

65.10 


+53 

+38 

+77 

+75 

+53 

+40 

+48 


FRIDER CATTLE {CMC} 
*4480 1 bs.- cants ner B>. 


7370 

6447 

AUO 

67.15 

4775 


*7-45 



6460 

Sen 

66TO 

6773 





6475 

Od 

6670 

*775 


<777 



6535 

NOV 

<775 

4605 


<775 










7055 

6610 

Mar 

7000 

70.10 


9000 


Est. Sales Prev.Soles L*01 

Pro. Dav Open Int. 8.974 up 65 

70.15 

70.10 

— JH 


*947 

5145 


4948 

5145 


4778 


5042 


HOGS (CMC) 

30400 lbs., cents per lb- 
5540 4*40 Jun 

277 4745 Jul 

5457 4747 Auo 

5173 4100 OCJ 

5X85 4470 Dec 

5047 4675 Feb 

4773 4450 Apr 

*945 4698 Jun 4855 4X85 

*945 4335 Jilt „ 4948 4950 

Esi. Soles Prav.Sotes 4742 
Pro. Dor Open InL 33.186 up 354 
PORK BELLIES (CMS) 

3X000 ua.- cents per b. 

82-67 


4925 

9097 


4335 

4930 

5X10 


4X97 

4X65 

497S 


47.10 

4177 

4947 


<555 

8025 

4075 

5390 

Jun 

Jul 

<160 

6150 

6058 

6150 

61.10 

—78 

—58 

5950 

torn 

5950 

5750 

Aug 

Sop 

6X50' 

4X65 

6178 

<1-55 

—58 

-55 

8425 

SOJO 


6350 

4X65 

4X80 


—55 

8470 

8050 

5960 

5950 

Jon 

6470 

MTO 

6375 

<375 

— 55 
-JK 

7400 

7440 

*1.18 

<170 

May 

Jul 

43. 10 

45-10 

646S 

6405 

*465 

■*»B5 

7090 

4270 

Sap 

6560 

6X40 

6X40 

4490 

—80 

7030 <408 

7030 6520 

6770 <600 

Est. Sales 

Dec 

Jon 

Mar 

Prav. Sate* UAfcl 


*X5D 

6570 

*610 

-50 

—80 

—80 


Prav. Dow Open Int. 8443* up 1417 


ALUMINUM (COMEX) 
4X000 Sn.- cants per lb. ■ 


*945 

9940 


4X35 

4443 


7430 

7X60 

76.50 

7X68 

6X75 

4245 

52.10 


Jun 

Jul 

Auo 


4X60 4X60 4X35 


Dec 

Jon 

Mar 

May 

Jul 


4X10 

4770 


4775 


4X50 
SITS 
4790 
5X9S 
5450 
51 JO 

Dec 
Jan 
Mar 

Eta. Soles Pro.Sotaa 357 

Pro. Day Open Int. 2727 uoI5 
SILVER (COMEX) 

5400 truy oz.- cents per fray oz. 


4X9S 

4740 


4540 

4570 

4X05 

4740 

4770 


4X65 

4970 

4995 

5X95 

SL25 

5195 


—TO 

—15 

—15 


9U3 9L13 

9044 9BJ4 

Dec 9052 9X52 

9024 S7.6* Mar 9074 9X24 

Est. Sales Pro.sates 4US3 

Pro. Day Open I m. 107732 off 15456 
BRITISH POUND (UNM) 

> per pound- 1 point equate SX0001 
14450 14200 Sep 17965 I790S 17745 17785 

17160 UQQf Dec 17070 UB7D 17648 17680 

1-2080 UMBO Mar 17390 17760 17988 17580 

17305 1.1905 Jun 17515 

Eta. Salas Prav. Sales 1544* 

Pro. Day Open I TO. 35477 off 7.1*3 
I CANADIAN DOLLAR (IMM) 

5 per dir- 1 paint equals 504001 

-7585 7025 Sep 3796 .7X3 3364 3X9 

7566 7006 Doc 7368 7270 7259 72SS 

7504 -6W Mar 7242 7343 7342 7239 

, 7350 7X70 Jun 7218 

Eta. Sates Prav. Sates 7X7 

Pro. Day Open Int 7403 off 2687 

I FRENCH FRANC UMNO 
Sparfrono-1 pohit equals SUNOOI 
.109*0 49600 Sop .10865 .10M5 .108*5 

.10615 49670 D#C .10710 .10710 .M7M 

Eta. Scries Prev.Soles 42 

Pro. Day Open Int. 421 affi87 

GERMAN MARK (IMM) 

6 per mark- 1 point equals RUR01 

-35*5 7930' Sep 7342 734* 7296 7304 

J6M 7971 Dec J3S3 TIM 7317 7334 

7415 7048 Ator 7160 7360 7350 7144 

Est. Sates Prav-Satas 34751 

Prav. Day Open tat 49725 ait 4744 .. 

I JAPANESE TEN (IMM) 

Spar van- 1 paktt eqoote moaam 
004190 403870 Sap 4848634X4X65 404845404041 
00435D 403*85 DOC 404050 404880 484063 4040X4 
084140 404035 Mar 404110 4041TO 404090404085 
Eta- Soles Prav.Sotes 14752 

Pro. Day Open ini- 3X379 up2J97 


—23 


lV. 


luii" 

n.rr‘ 


—165 

— U0 


—VS 




VJ 

-i# u, • ... 




—wo 

—100 




—a* 

-o 


-70 

-.40 


SWISS FRANC (IMM) 

S nor franc- 1 pohtt equate 9U001 
KB 7480 SOP 7991 7895 

160 7511 Dec -4010 4814 


7*37 

7963 


Pro.Batea 324S4 
Pro. Day Open ML 27437 OH 1790 


7944 

7968 

■4000 


£3 

5985 

5*20 

Jun 

Jul 

*455 

*495 

*315 

4317 — 149 
<3X5 —17.5 

110X0 

57X0 

SS 

*548 

6565 

6360 

6365 — 17J 
6404 —17.4 

123X8 

17155 

wax) 

Dec 

4655 

6668 

6495 

45X2 —475 

9959 

Jan 

6615 

6615 

4*15 

r - IM <*r\ 

lino 

tart 

After 

67X0 

6765 

4*55 

4*46 -17-4 

10460 

94X0 

4215 

*355 

Mav 

Jul 

6935 

*955 

4985 

<737 —174 
<82* —17*4 

9405 

til* 

Sep 

7095 

7005 

7035 

49X5 -175 

TWO 

4675 


7875 

7115 

7075 

7877 — 174 

7895 

7785 

7875 

7865 

Jon 

Mar 

7460 

7468 

7458 

71X1 —174 
7241 —174 


Indurtrifllt 


Eta. Sales 

Prev.DavOpenlrrL 79,168 up 1751 
PLATINUM (NYA6E) 

» troy az^ dot tars per troy oz- 
20740 251 fJO Jun 27370 —4.90 

44940 241-80 Jul 27X00 27840 37X50 274.10 —440 

Six Od 38240 3gS0 277 JO 37650 Z£3j 

37X20 26040 Jan 2B740 30740 20X50 28150 —530 

32950 27X50 Apr 29240 29240 29040 28170 -420 

38240 29740 Jul 27740 29740 29740 294J0 —530 

Eta. Sales Prav. Sates 4497 

Pro. Day Open Int. 11.959 up 22* 

PALLADIUM CNYME) 

WO fray tn- Ott tars nor oz 
159JC 9440 Jun 10150 10150 U07S 99J0 —275 

14175 9358 Sep 10250 10X75 10X00 9940 —255 

1*150 9346 Dec 10275 10275 10X50 9950 -2.95 

12750 9450 Mar 10250 WXSO 10146 99.90 —295 

11440, 9440 Jun 10X15 — 295 

Eta. Sates Pro. Sales 9*7 

Pro. Day Open InL X743 off 1259 
GOLD (COMEX) 

100 fray az.- dot tars per troy az. 

51X00 OT40 Jun 32X00 33670 32250 22X30 — &40 

32X50 31350 Jul 32340 —550 

«tt40 291-fM Aug 32940 329-40 32450 32+80 —570 

49140 29740 Od 33250 32240 32X20 37X38 —576 

Dec 33740 33740 3JL50 33220 -550 
Feb 34X00 34X00 33X40 33630 —560 

. . Apr 34X40 34240 3424* 14X30 —550 

43X70 SOJQ Jun 34X40 34850 34740 344.90 —550 

3J140 Aug 35450 35450 35450 34970 —550 

33540 Oct 35470 —570 

3RM 34240 Dee 36480 36490 3*450 3S970 -IS 

37240 36240 Apr 370.10 —570 

eh. Soles Pro.Sates 4X412 

Prev. Day Open lnt,13X3S8 up 1744 


LUMBER (CM!) 

130406 bd- ft.- Spec 1400 bd. ft. 

23X50 12970 Jul 14X40 14X30 14X90 ,4X90 —540 

J7750 13550 5ep 15170 15170 14750 14740 -450 

15120 15020 15050 -240 

& KiS Jon J»50 isxro is7.w 15750 — ijo 

19540 ,5049 Mar 1*450 1*450 1*350 1*440 —140 

Ij*{5 1040 May 16050 16X70 16B40 iffilo -JB 

17X40 Jrt 17550 17550 17340 17456 —40 
Eta. Soles Pro.sates 3411 

Pm. Day Open lilt. 1X106 off 174 / 


COTTON 2{IIYC»B 
50400 Ibs^ cants par IX 


7955 

6090 

Jut 

6X73 

4257 

*148 

<252 —170 

77 JO 

4/1 rr; 

Od 

*L2B 

6140 

4040 

6055 —00 

7X50 

*048 

□ec 

6140 

*154 

4075 

67 JQ 

—25 

7*75 

6140 

Mar 

<270 

*250 

*175 

6240 

—J5 

7000 

*156 

Mav 

4X40 

*240 

6258 

OJD —36 

7655 

at m 

Jul 

6270 

<270 

<340 

0-77 —JO. 

63J0 

59 JD 

Od 

5945 

9948 

99.10 

5953 — Jl 

5650 

Eta 5olM 

Dec 5655 5605 
Pro.Sates 3563 

5650 

5878 —40 


-«'*4r:.. ■ 

-“•'a- •; •: 

■ei; '* ■. 


veal 

Jul 

0040 

4680 

6735 

4630 

+36 

Auo 

<740 

<680 

<7.10 

6740 

*36 

322 

67 JO 

<635 

4770 

<770 

*31 

Oct 

4620 

4665 

<7 JO 

*650 

+49 

Now 

0670 

6940 

4678 

*940 

+1.10 

Doc 

<940 

7070 

4970 

*050 

+45 

Jan 

7040 

7X40 

7040 

7840 

+40 

pro.sates sj45 
nt. 21-330 off 191 



31470 


HEATING OILfNYME) 

*X00O oat- cents per oal 
7570 6575 

7550 6633 

7645 6690 

77.10 6755 

7455 6X50 

7X25 69.13 

7X90 *970 

Sates 

Prev. Day Open I 
CRUDE OfL(NYMC) 

1400 btt do) lore per bbL 
»5f 3410 Jul Z77S 27*0 

2957 2425 Aim 2640 26-67 

»■» 3448 Sp 2540 2605 

29-50 2*55 Od 25-40 2575 

II 

» M 2420 M itx US 

79A5 3470 Mar 2475 2675 

Eta-Sctes Prev. Sates J77» 

Pro. Dav Open Int. *4701 off 1.12* 




SS 


2779 

3660 


2475 

S3 

3475 

34.13 


KM 


3625 

3470 


+47 

+71 

•MS 

+74 

+72 

+.19 

+.12 


ss?r v v 


w:-- 




Flnoncfol 


4970 4975 +.10 


*1.17 

JUl 

UlM 

4677 

<770 

4620 

—.15 


Auo 






6X15 

fHB 

7+95 

7X10 

7*65 

7*47 


6450 

Mar 

7455 

7470 

7*U 

7*65 

+55 

70.10 

May 

7*80 

7*90 

7480 

7X20 


*970 

Jul _ 7558 7X50 
Pro.Salas 4405 

7*75 

7*95 

—25 


7670 
75-40 
7560 
76D0 

Est Salas . 

Prav. Day Open InL lltaU up 73 


Food 


Reuters 


SINGAPORE — United Over- 
seas Bank Ltd. said Wednesday 
that it is writing off its J3.8-million- 
Sineaporc-dollar ($6.2-million) 
holding of 19 million shares in die 
Overseas Trust Bank Lid. in Hong 
Kong. 

United, one of four major Singa- 
pore banks, said it considers this 
move realistic and prudent “given 
the circumstances surrounding the 
takeover of 0TB by the Hong 
Kong government-'" 


—41 


COFFEE CCWTCSCE1 
37500 tax- cents per lb. 

149.TO 12140 Jul 14X10 14570 14475 14471 —146 

15X20 12740 SOP 14740 14740 14610 16618 —77 

15X40 12975 D*C W77T 14X80 14775 14770 

J4J7S 13X50 MOT 14740 14770 14651 14A0T 

UL0O 13140 MOV 1463! 14620 14670 14*40 

14840 13X50 Jul 14625 14639 14625 14X25 

14740 13X75 Sep 14541 

Est. Soto* Pro.sates 2718 
Prev. Day Open int. 1X391 off Ml 


+7S 

*36 


SUCARWOftLD It (NYCSCE) 
113400 Ibx^ cents per ft, 


9J5 

175 

Jut 

298 

199 

XM 

271 



385 

Sep 

113 

3.T3 

276 

282 



XM 

Od 

XU 

X17 

383 

284 

—73 


373 

JOT 

349 

349 

138 

X15 




Mar 

XJI 

X92 

154 

387 


7.15 

194 

Mav 

*08 

*08 

3716 

376 


<49 

4.13 

Jul 

*29 

439 




<58 443 Od *58 *50 

Est. Sofas Prav.Sotes 9517 . 

pro. Dav Oran Int. 9X857 upsn 

*27 

*27 

-J4 


» mottle ten^snrloa 
?« 19*8 Jul 

2040 

2047 

3019 

SS 

+6 

2415 

1971 

Sep 

35W 

2035 

2010 

+6 

3337 

1945 

Dec 

1*85 

3809 

1978 

1987 

4* 

2191 

1955 

Mar 

1994 

an* 

1999 

1995 

+1 

2130 

1910 

May 

3010 

Writ. 

3BN 

2*5 

—TO 

2110 

Est. SalK 

1*40 

1 

JUl 

oro.Sate* 2409 


—ID 


Prmr. Dor Open int. 21415 UP97 


US T. BILLS (IMM) 

Si minion- pta of IBB net. 

9X76 8694 Sep 

92.90 0677 DOC 

9154 0660 Mar 

7223 8781 Jun 

91JN (840 5ep 

9120 6705 Dec 

9179 8958 Mar 

Eta. Soles Pm.Sarn 9A56 

Pro. Oav Open int. 33474 off 112 


Btocfc indexes 


9X74 

9249 

92-49 

9270 

9170 


9370 

9X91 

9X49 

9270 

9140 


9X0* 

9X69 

9X35 

9X14 

9148 


9X06 

9270 

9X34 

924S 

9140 

9JS6 

9174 


—17 
— T8 
—17 
—17 
— 1 * 
—1* 
—15 


19X60 

199.10 


1*040 

17570 

19X10 


10 YR. TREASURY (CBT) 

SU0400 prb+ ate A 3Ms ollGO pd 
99- IB 709 Jun BUT 80-23 

S8-21 75-10 Sep 07-17 87-21 

S7’P 5i* 06-18 86-19 

86-S H-U Mar 8S-1* (5-18 

K-7 74-30 Jun 84-21 0+21 

Eta. Sate* , PTBV. Sales 13724 
Pro, Day Open Int. 54472 ott 374 


88-15 

Ml 

06 

8+31 

8+5 


88-24 

87-2 

■ 6-1 

85-1 

8+5 


-99 


un. 


UD net 

79-19 7946 
78-7 78- U 

77-5 77-13 

76-4 76-13 

75-4 75-12 

7+8 7+15 

73-21 73-Z1 


siacox TOdex+ttsG 

00-1 1 57-20 Jun 

77-12 57-10 sop 
70-13 57-8 Dec 

77*29 57-2 Mar 

76- 6 56-29 Jun 

75-31 5+27 Sep 

7+34 56-25 Dec 

7+15 5+27 mot 

S"ll S'! 3 -tan 73-9 72-9 

7133 

_ 73 -18 63-24 Dec 71-2 71-3 

gta'SoJW Pro.5dh®174409 

P rev. Dev Open lnuil.i0P wpll77 
GNMA (CBT) 

510X000 prk+pts 6. Shuts of no nd 

77- 10 4-1J Jun 77-6 77% 

7+34 g-13 Sen 76*17 7+17 

75-29 »-* Dec 7S-2S 75-25 

75-10 swo Mar 7+22 7+22 

7+23 JUS Jim 

7+1 65 Sep 

EN- Sates Pro.sates 548 

Pro. Day Open I ru. 420i up 230 


79-14 

77-19 

7+15 

75-14 

7+19 

7X21 

73*28 


7+11 

70-21 

70 


79*18 

77-23 

7+19 

75-10 

7+1? 

73-B 

72-3 

72-3 

71-11 

7+21 

70 


—17 

—10 

— 1 * 

—10 

—16 

—1* 

—1* 

—16 

—1* 

—16 

—16 


(indexes compiled shortly before market daw) 
SP COMP. INDEX (CMS) 
pttnta and cents 

WWS 156.10 Jun 18740 18X10 18690 106J0 - 

fS- W1 - 28 ®S V9M - 

Dec 19X00 79-00 19X43 19X33 - 

Pc f w_ JtSTmJEfUf 7 ** tV7M H 7 * - 

esT.oatas Prav.Sotes *2449 

Prav.Dor Open ,nt. 8X363 up UBS 
VALUELINgUCCBn 
points end c»tts 

12^5 422 2S2 mM 19663 19X65 

Bs u & sas asiss 

^v^OPd.l^jg'Sfs" 23 

g a g ia jski as m 

FSafiafiaiB" 

p »»v.DgyOnenim. 11422 




1 :,' 


+40 


II 240 


Commodity Indexes 


Moody's, 



Reuters 

Dj. Futures 


Close 

921.004 

1.771.10 

NA 

NA 


Com. Research Bureau, 

SES . 1 2° 1°^ S*. WSL 
p- preliminary; f - final 

Routers : base IDO : Sep. 18. 1931 
Dow Janes : base 100 : Dec. 31. 1974. 


Pnwtaa 
92040 f 
17HU90 

T21J6 

232.90 


9240 

9171 

9X34 


CERT. DEPOSIT (IMM) 

SI mKltan-ctentlWpet 
9249 8X30 Jun 9240 

9X74 8540 Sep 91*7 

«22 8S34 Dec 9X24 

9175 0656 mar 

91-40 8643 Jun 

y-M g-% Sen 9148 

HL99 8034 Dpc 

EM.SekB Prav.Sotes 127 
Prev. Day Opm InL X568 off21 


9275 

92-46 

9345 


9148 9148 


9X48 —JJ 

%0> -3 

2-S — > 33 
TO71 --23 
90+1 


c 


Market Guide 


Si-. 


CBT: 

CHE: 


EURODOLUWS^IMM) 


St mllllenptegfli 
9X42 8653 

91.96 SLID 

9171 5610 


Ssp 

Dec 

Mai- 


9235 

9132 

9IJ5 


9245 
91.96 
91 £5 


9X14 
91 A* 
91 35 


*114 -a 
9140 -33 
9136 -% 


NYCSCE; 

NYCE: 

COMEX: 

MYME-. 

KC8T: 

NYFC: 


g»jaw» Board of Tntaa 
Ogago Mereanttte Emhonge 
WOTCttontf Monetary Mortrat 
g^j^MwcunWte Exdmnss 


. V - ■’» 


Commodity Exdiarne. Nrm York 
keramllte Exchange 


Mgroan’i'ni 

at Trade 

urn# York Futures Eertonge 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


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Karstadt Reports 74% Profit Decline 


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ESSEN, West Germany — Kar- 
stadt AG. West Germany’s largest 
department-store chain, reported 
Wednesday that group net profit 
Tell to 23.9 million Deutsche marks 
(S7.8 million) in 1984, a 74-perceni 
decline from 90.4 milli on DM in 
1983. 

Sales totaled 12.01 bflfioaDM, a 
2-p«cajt decrease from JL27 bil- 
lion in 1983. The dividend, previ- 
ously announced, was unchanged 
at 7 DM a share. 

Walter Deuss, the board chair- 
man, said the parent company’s 
sales fell 3.4 percent in the first five 
months of 1985, compa re d with the 
same 1984 period. He said, howev- 
er, that revenue had risen in two 

COMPANY MOTES 

Australia & New Zealand Bank- 
ing Group Ltd. will change the 
structure and operations of hs 
wholly-owned Grindlays Bank 
PLC unit to integrate ii_with its 
own corporate structure The unit 
was acquired by ANZ in Septem- 
ber. 

Honeywell Inc. expects second- 
quarter earnings to decline sharply 
from those of a year ago, attribut- 
ing the derimi* to weaknesses in 
industrial and computer markets. 
The firm said results in its Informa- 
tion Systems business would fall 
substantially below a very strong 
second quarter in 1984. 

Jasnt Jackson Sdn has been re- 
fused by the government of Brunei 
in its application to share its oil 
concession with the UJ5.-based 
Phillips Petroleum Co. Phillips 
would have received half the con- 
cession’s output mretuxn for the 


areas that contributed heavily to 
the pro fit decline in 1984: the travel 
subsidiary N-U-R GmbH and the 
mail-order business Neckermann 
Vereand AG, which was absorbed 
into the parent last year. 

Losses at N-U-R widened to 282 
mil Him DM in 1984 from 1983*5 7 
miTTum Although Neckermann ‘s 
losses nearly doubled in 1984 com- 
pared with 1983, Mr. Deuss said, it 
showed an overall profit of 5.4 mil- 
Doa DM through extraordinary 
i tem js snch as the sale of property to 
the parent company. 

Mr. Deuss declined to give fig- 
ures for early 1985 or predict fuD- 
year results, but said Karstadt had 
braced itself for continued stagna- 
tion in retail spe ndin g. 


finance to drill seven exploratory 
wdls in northwest Borneo. 

National Medical Enterprises 
Inc of Los Angeles has bought the 
500-bed Mount Elizabeth Hospital 
in Singapore in a major step for the 
company 's future expansion in the 
Pacific Basin. The hospital is pri- 
vate and caters mainly to wealthy 
foreigners. 

Overseas Union Enterprise Ltd. 
said Chung Sing Development Co„ 
in which it las 50-percent equity, 
has signed an agreement with three 
partners in China to build a $60- 
mfllm w hotel in -Shanghai The 
OUE subsidiary Mandarin (Singa- 
pore) International Hotels will 
manage the 600-room hotel 

SAB Hannon Industries inr., a 
Missouri electronics company serv- 
ing the railroad industry, has re- 
deemed nearly 2JS milli on shares of 
common stoat held by SAB NIFE 
AB, a wholly-owned subsidiary of 


Mr. Deuss said both Necker- 
mann and N-U-R were affected 
last year by developments that 
were untikdy to be repeated. Book- 
ings at N-U-R in 1984 were de- 
pressed by two major indus trial 
disputes in the summer months, he 
said, and at Neckermann, prob- 
lems with a new central warehouse 
meant scone customers either re- 
ceived incorrect orders or experi- 
enced long delays. 

Parent company profit declined 
to 60.4 million DM from 90.4 mil- 
lion and revenue fell to 9.16 billion 
from 9.44 billion. 

Mr. Deuss said Karstadt still 
hoped to merge N-U-R with Kauf- 
hof AG's travel subsidiary, ITS In- 
ternational Tourist Services 
GmbH. 


Wilh Sonesson AB of MalmO, Swe- 
den. 

Tala Engineering & Locomotive 
Co, India’s largest manufacturer of 
commercial vehicles, is discussing 
with various foreign carmakers the 
possibility of collaborating in the 
manufacture of passenger cars. 

Thomson-CSF TflEphnne, part 
of the French government-owned 
Cte. G6n6rale d'Sectndtt group, 
is launching a desk-top terminal 
the VDT 3500, combining the func- 
tion of a telephone, a videoscreen 
message system and a ample infor- 
mation processor. 

Wheeliag-Pittsburgh Steel 
CorpL, the seventh-largest Uilsteel 
producer, will lose $80 million this 
year and will be out of cash in the 
fourth quarter, company officials 
told a bankruptcy judge in their 
efforts to dissolve their labor con- 
tract. 


3 Unions at TWA Form Coalition 
To Block Takeover by Texas Air 

The Associated Pros 

NEW YORK — The three unions at Trans World Airlines said 
Wednesday that they had formed a coalition to “pursue alternatives" 
to the $79v5- milli on takeover of the airline by Texas Air Coro. 

The coahrion sakl it had retained two investment bankers to ndp it 
block Texas Air EugraeJ. Kalin, a partner in the firm Lazard Freres 
& Co„ and Brian M. Freeman, preaaenL of a Finn that bears his name. 
The coalition comprises the Air Line Pilots Association, the Indepen- 
dent Federation of Flight Attendants and the International Associa- 
tion of Machinists. 

TWA agreed last week to be taken over by Texas Air to head off a 
hostile takeover bid by Carl G Icahn. a New York investor. Texas Air 
is the parent of Continental Airlines, which is in Chapter 11 reorgani- 
zation proceedings, and New York Air. 

Bayer Chief Expects to Match 
56% Profit Growth in 1984 

Review to 9 DM, from 7 DM at present. 

COLOGNE— Bayer AG’s prof- brought Bayer in line with 

it performance in 1985 should other large West German chemical 
match last year’s 56-percent in- groups such as Hoechsi AG and 
crease, the company’s managing BASF AG. 
board chairman, Hermann Mr- Stronger gave no details on 
Stronger, said Wednesday. Bayer’s profit for the first five 

The diversified ctwmiral and months of 1985. In the first quarter 
pharmaceuticals concern reported this year, Bayer repealed that 
world-group net income last year of world-group pretax profit had risen 
1.17 billion Deutsche marks 28.9 percent m the first quarter, to 
($384 3 mlninn ) compared with 754 820 million DM, from 636 million a 
million DM in 1983. year earlier. 

Mr. Sir eager told the company’s .Mr - Stranger said he was opti- 

annu al mreimg that world group mistic about the results despite his 
volume increased 13.1 percent, to expectation that Bayer would not 
I6_3 billion DM, from January to benefit as much as last year from 
April while parent-company sales factors such as the strong dollar 
in the first five months rose 9.6 and strong growth in the U.S.econ- 
peroent to 8 bfflion DM. “ny- ; - 

June also started well, Mr. So far this year, business has 
Stranger said. Adding tha t Bayer been particularly strong in North 
results for 1985 are likely to be and South America, he said, 
tjust as good as last year.” Research spending will rise to 2.1 

The increase in 1984 profits en- billion DM this year from 1.96 bil- 
abled Bayer to increase its dividend Hon in 1984. he said. 


Renault Said to Want 
To Cut Capacity 25% 


PARIS — Renault, the money- 
losing French automaker, is aiming 
to cut its production capacity by 
about 25 percent as part of its re- 
covery program, union sources said 
Wednesday. 

The government-owned vehicle 
group declined official comment. 
Bui the union sources said the ca- 
pacity cut. and a further paring of 
investment plans, were included in 
measures put to labor representa- 
tives this week at a meeting with 

mamyrnm l 

Company sources said that no 
formal decision on industrial strat- 
egy had been made, but added that 
the documents cited by union 
sources accurately reflected man- 
agement thinking. 

The plan is to reduce capacity to 
about 1.6 million cars a year from 
the present 2 million, the labor 
sources said. 

Car production at Renault, 
which has suffered a sharp drop in 
domestic market share over the 
past two years, is running at sub- 
stantially below capacity, and the 
company reportedly has plans to 
reduce the French work force by 
21,000, more than 20 percent, by 
the end of 1986. 

Worldwide, the group's net 
losses in 1984 reached 1255 billion 
francs ($135 billion), compared 
with a loss of 1.58 billion francs in 
1983. 

Union sources said management 
documents put to the works com- 
mittee this week indicated capacity 
reductions could be made at Re- 
nault’s aging Billan court complex 
near Paris and at its Le Mans plant 
in northwest France. 


The documents showed that 
management expects the group's 
domestic market share to bottom 
out at 30.5 percent this year after 
falling to 31 percent last* year and 
then to recover slowly to 313 per- 
cent by 1987. the sources said. 

investment, already trimmed to 
the minimum needed for the intro- 
duction of one new model a year, 
would be cut back to 6 percent of 
sales from the 9 percent average in 
recent years, they said. 

Investment fell to 9.9 billion 
francs last year from 10.5 billion in 
1983. 

A company also denied reports 
that Renault plans to close its Swiss 
financial subsidiary, Renault Fi- 
nances. 

“Renault formally denies closure 
rumors circulating in Switzerland, 
which are pure fantasy,” he said. 

Meanwhile, union sources also 
said Wednesday that Citroen, 
which is part of the privately 
owned Peugeot group, bas plans 
this year to cut a further 1.300 jobs 
from its work force of 38,000. The 
company had trimmed 6,000 lost 
last year. 

A Citroen spokesman confirmed 
that the proposal was on ihe agen- 
da of a union meeting Thursday 
and said that the company hoped 
to avoid outright firings by doing 
such thing as encouraging immi- 
grant workers to return to their 
countries of origin. 

Citroen employs 7300 immi- 
grant workers who could be cov- 
ered by voluntary repatriation. 

Peugeot shaxply cut its net group 
loss last year and hopes to break 
even this year, but Citroen remains i 
a heavy money Joser. 


Page 15 


Krupp Stahl 
Expects Better 
Results in T 85 

Rnuert 

BOCHUM. West Germany 
— Krupp Stahl GmbH expects 
to improve its results this year 
after returning to profitability 
last year for the first time since 
1979, the managing board 
chairman. Alfons Godde, said 
Wednesday. 

Krupp Stahl which is 70.4- 
perceni owned by Fried Krupp 
GmbH and 25.1 -percent held 
by National Iranian Steel Co., 
last year had a group net profit 
of 23.34 million Deutsche 
marks ($7.7 million). U had a 
1 ms of 344 million DM in 1983. 

Even by pessimistic esti- 
mates. Krupp should remain in 
profit this year, Mr. GOdde told 
the company’s annual meeting. 
But he said the crisis in the 
European sted industry is still 
not over. 


Reynolds Gets Go-Ahead 
For Nabisco Acquisition 

The AssochUtii Press 

WINSTON-SALEM. North 
Carolina — RJ. Reynolds Indus- 
tries Inc. said Wednesday that the 
waiting period under U.S. law was 
over for its offer fra 29 million 
shares of Nabisco Brands Inc. com- 
mon stock. 

Reynolds, the second-largest 
U.S. cigarette maker, announced 
earlier this month it was offering to 
buy Nabisco, the fourth-leading 
U.S. food company, in a friendly 
takeover for a total of $4.9 billion. 


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Good Harvests Worldwide Bring Hard Times for U.S. Farmers 


(Continued from Page 13) 

Mr. Dwyer said, if someone could 
bring him the same sort at news 
about prices. 

No one can. “Everybody keeps 
saying there’s got to be a better 
year ahead,’’ said Jack Beauchamp, 
a grower np in Kansas, where Farm- 
ers have yet to harvest their winter 
wheat “But it seems like it’s going 
to be a long time craning And the 
farmers are getting Eke their M 
machinery. They’re wearing out to- 
gether.” 

Indeed, few experts see any sign 
of relief for the farmers, custom 
cutters, grain -elevator operators 
and export merchants who, depen- 
dent on the wheat trade, are experi- 
encing these hard times. 

“We’re going through a very 
painful adjustment process,” said 
Martin Abel an agricultural con- 
sultant with Abd, Daft & Early in 
Washington. “The situation can 
improve if economic conditions im- 
prove in developing countries, but 
that’s long term." 

Falling imports from poor na- 
tions that cannot afford to buy are 
only part of the problem for Ameri- 
can growers. Now, even imprating 
nations that can afford wheat and 


that have been big buyers of VS. 
grain are becoming self-sufficient. 

India’s yield is increasing ready 
thanks to the technological green 
revolution," according to the UJS. 
Department of Agriculture. China, 
too, requires less and less foreign 
wheat, said the department As fra 
the Soviet Union, historically a 
hugp importer of U.S. what, the 
department projects much-im- 
proved production this year, after a 
series of poor crops. So Soviet 
wheat imports, too, arc expected to 
drop sharply. 

“As of today,” said Mr. Abel “I 
can see no major crop problems 
anywhere in the world." 

Simultaneously, the competition 
for the rapidly shrinkipg export 
market is greater than ever. Fann- 
ers in Western Europe, aided by the j 
common agricultural policy of the 
European Comnsmity, Have in- 
creased production to the point 
where Britain, for example, is now 
a net exporter of wheat, when just 
four years ago it was a net import- 
er. As Europe has expanded its 
acreage, so have Argentina, Austra- 
lia and Gmada. 

The rising world production, 
combined with ihe high export 


price of UJS. wheat, propped by 
government support prices and a aocor 
strong dollar, means one thing for P&rtn 
U.S. wheat growers: Exports. Ew 
around which their industry is whe* 
structured, seem permanently 11101(6 
eroded. And the bushels of wheal er .“< 
that poured out of U.S. ports in the with 
mid-1970s may not flow freely about 
again for years to crane: surpl 

In fiscal year 1985, ending Sept, throu 
30, U.S. wheat exports are ejected way t 
to drop to 35 million metric tons, or share 
1 J billion bushels, bon 41.7 m3- back 
lion tons, or 15 billion bushels in Bui 
the 1984 fiscal year. And the year possil 
ahead is expected to continue the year- 
long slide, to 326 million metric mans 
tons, or 12 billion bushels. larges 

This is especially bad news this Mr 
year, when the harvest will be one offer 
gt the five or six largest on record, a noles 
— aboul 

South Korean D^dt Widens 

Return EurOf 

SEOUL — South Korea’s cur- or $3 
rent account deficit widened to wheat 
$310.4 million in May from $144.6 Caigi 
million in April but narrowed from nearly 
$350.2 million in May last year, cheap 
according to provisional Bank of andb 
Korea figures released Wednesday, organ 


total of about 24 billion bushels, 
according to an Agriculture De- 
partment report issued last week. 

Even as it is reaped, there is 
wheat in storags — substantially 
more than half oflast year's bump- 
er crop of 26 billion bushels. And 
with domestic consumption at 
about 40 percent of the harvest, the 
surplus can be depleted only 
through healthy exports. “The only 
way to recover our foreign market 
share,” said Mr. Abd, “is to buy it 
back with lower prices.” 

But lower export prices are not 
possible, at least not so far this 
year, said Russell Daly, a regional 
manag er of Cargill In&, one of the 
largest U.S. grain companies. 

Mr. Daly says his company can 
offer wheat at export terminals fra 
no less than $132 a metric ton, or 
aboul $3.60 a bushel. That com- 
pares with export prices of about 
$114 a ton, or S3.10 a bushel for 
European wheat and about SI 16. 
or $3.15 a bushel for Argentine 
wfaeaL In fact, earlier this year, 
Cargill itself tried to to import 
nearly I million bushels of the 
cheaper Argentine wheat. Swift 
and harsh criticism from UJS. grain 
organizations forced the Minneso- 


ta-based commodities shipper to 
cancel its plan. 

The $3.60-arbushel price set by 
Mr. Cargill at export terminals is, 
of course, more than farmers here 
on the plains get for their wheat 


Gold Options t^ii s/oLt 


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340 

& 7 S as 

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360 

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370 

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VafcunWUteWeM&A. 

I. Qtmi *m Mom-Mane 
Ull Cram 1, Sutmut—d 
Tel 310251 - Tctn 28305 


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Weekly net asset value 

Tokyo Pacific Holdings N.V. 

on June 17, 1985: U.S. $128.28. 

Listed on the Amsterdam Stock Exchange 

Information: Pierson, tl ek t ri ngA Ptereon N.V., 

Herengradit 214, 1016 BS Amsterdam. 


Sribunenyff 


Ope ni ng for Talk* 
k Vni in Mimwi 





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Price: Destination in Europe US$120. Outside Europe, US$130. 


2FOR1 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 


Wfednesdayk 

AMEX 

dosing 


Tables include ffte nationwide prices 
up to the closing an wall Street 
and do not reflect late trades elsewhere. 

I la The Associated Press 


1 12 Month 
H totl LOW Stock 


Div. YU. pe laasHbft low Oort, art* 



11% OK 
21M UK 
i ok a 
mvi in 
30 

0 2* 
21« 13% 
OK 3 
IK % 
IS OK 
1M I0W 
TV fta 
2% 1 
15* 10 
«M 27 
as* ny 

12 AO 
VJft «% 


GkaiFs so ' 
GntYlp 
ciafflt jo : 

Gtamr looo; 
debNR 
OtaHr M : 
GoldWf 
GUFU 

CrottCp JB J 

cmoAu .« : 
Brail 
Grail wt 
GrTodi 

BrtLJcC M \ 

Grams 

Grcfner 

(MCh SBh* 
GtfCdo S3 
Glfitr AO : 


3 

1% 

274k 

19 

15% 

12% 

15% 

12% 

7% 

39b 

SOW 

18 

24% 

19% 

23% 

10ta 

SVk 

3ta 

Sta 

Sft 

34% 

25 

15% 

UK 

7% 

2% 

7 

4V> 

W% 

7% 

u 

10% 

10ft 

Sta 

19 

8% 

Sft 

2 

76ft 

25 

6ft 

3W 

9% 

6 

% 

5M 

1% 

Mta 

11 

71% 

6% 

39 

23ta 

1 

% 

36% 

23 

17% 

13 

16% 

9M 

23% 

10% 


2 Kb 
204b 204b 
13% UK 
13K 13 
3* 3* 
UK IBM 
21 ZM 
11 10% 
4W 4 
4tb 4Vb 
33 Kr 33% 
IS 15 
2ta 2% 
4* 4M 
OK BW 
UK 12% 
OK 04b 
204b IV 
2W 2 
70V. 70% 
3% 3H 
7K 7% 
10 10 
Zfc 2 
UK 134b 
23 21 

35 35 

10 ISM 
14% T4H 
22% 22U 



A0 SB 34 

JB 24 30 48 

17 25 

11 31 

13 02 

lMoIV.I 3 TO 

-M 

^0 0.1 13 5 

51 78V 

JMe J S 

12 S3 
23* 

AO* U V 25 

J3el04 TO 

II 27 

A0 20 7 23 

42 

39 25 

.10 1A 74 1 

JO 19 OV 2 

.40b SJ 0 4 


a 7% 

13M 134b 
5Vb 5K 
5% 54b 
2K 24b 
36% 36% 
12% 12Vb 
1% 1M 
ZZta 22K 
4% 44b 
0M 0M 
1Kb 11K 
5 4M 
K K 
12% 12% 
3Vb 3M 
12 % 12 % 
20% 20K 
1% 1M 
30% 304b 
7% 74k 
7 0% 

74b 7M 


204b 

134b— 4b 
13% + Mi 
340 + K 
IBM + 4b 
21 + lb 

10%— Vb 
4 — K 

4Vb 

33% 

15 + 4b 

24b 

4% + Vb 
B4b + 40 
12 % 

OH— ta 
20 % + 1 % 
2 — Vb 
70% + U 
34b 

74b + K 

’a -M 

134b + K 
22 % + 1 % 

■»-* 
35 OK 
10 

14%— 4b 
224b 


B + 4b 
13M 

SH + K 
540 + K 
2K— Vb 
30% + lb 
12% — % 
14b 

22% + % 


11 % 

440 

K 

12 % 

3% 

124b + 4b 

2010 

1% + K 
3040 + K 
7% 

6Jb— lb 
7M 


50 I1M 
m so 
IS .9% 
43 31% 
89 30% 
33 3% 

5 19% 
110 A 
IS % 
15 WK 
10 U% 
152 0% 
0 IK 
U 11 

1C 39% 

123 32 
IS 11% 
IU 10% 
320 UK 
771 33% 


IS OK 
4 104k 

24 29% 

10 29% 

4 1% 

804 35K 
On 38% 
04 23% 
103 9% 

11 9K 

4 0% 

30 I0K 

25 Z% 

70 5% 

14 K 
109 4% 

12 14% 

0 21b 

20 UK 
4 32% 

15 94k 
133 S% 

■7 19% 
0 6 
287 3% 

8 ISK 

1 41% 
29 41 

21 10 

101 7% 


UK mt + % 

1VK 194b— K 

9% 9% + W 
31% 3IK 
29% 30%— % 
3% 3%— % 
19% 19% 4- % 
SM 4 + % 
% 40— lb 

Wta 10%— % 
UK 18K 
OK ■%— % 
IK IK 
10% 11 * 46 

3flh 39% 4- K 
31% 31%— % 
114k 111k— % 
IQM WK - 
12% J2% — K 
33% 33%+ % 


Hb no- Vb 
HVk 10% 

28% 29% +1% 
29K 29%— lb 
1 % 1 % 

34% 1440—% 
38 38% + % 

22% 23 + % 

9% 94k + % 

9% #M + % 
0% B% + % 
154b 15%— % 
Z% 2% + Vb 
5M 5% 

% % 

4% 4% 

14 14 — Vb 

2 % 2 %— % 
13 ISO + V, 
224b 32% — % 
9% 9% + Vi 

3K 3% 

19 19 

6 0 
3% 8% 

UK 15% — % 
41% 41% — % 
4040 40% + % 
10 10 + % 
7 7 — K 


12 Moron 
HtahLow S%cb 


n%. YNt pg mm High Law Quo*. 




17 

,10b lA 13 
30 1.9 20 


56 U 24 
.12 J 11 


JO 14 12 
SB 23 13 


2 11% 
0 18% 
05 3% 
M 124k 
124 44% 
7 0% 

5 4% 
21 11 
7 % 

1 4% 

32 % 

107 31% 

11 23 

149 2 
484 0% 

4 24% 

5 33% 

12 *% 
252 17 
113 23% 


11% 11% + % 
ia w% + & 
3% 3%— % 
UK 12K— K 
43% 44% + % 
8% B»— % 

4 lb 4% „ 

“£"£=£ 

*8 

314b 31ft— % 

24% a 

o% 22-% 

24% 24% 

23% 23% — % 
Oft Wt 
i*% 17 + ft 

23 23 — % 




2D U 10% 
21 1 10W 

17 41 1040 

12 5 17% 

0 21 11% 
32 % 




Sft 540 
5% 5% . 

10 % 10 % — % 
13% M + % 
20% 21% + % 
11% 12 + K 

0% *%— % 
15ft 15%+ Jh 
M U —% 
5440 50ft + % 
134k 13ft — % 
7% 29b— 4k 

1% IK— % 
Mk 4% 

3K 340— 40 


4% 

4% 
T% 7% 
23% 27ft 
14% 14% 
5% J% 

m in 
2% 2% 
1U 2% 
2% 2ft 

31% 33 
55% S 

"Sft 

W 

24% 
12% 
17% 
0% 
3ft' 




IOK 

10%— ft 
17% — ft 
11% „ 
% + M 


24ft 

16U OEA 



12 

IB 

20 

19M 

79% — ft 

22% 

14% Ookad 

580 

A 

12 

U 

lffft 

Uft 

1Mb 

12 

4 CMetAn 



33 

9 

6% 

6% 

6% 

Mta 

4ta Odets s 



SS 

5 

10% 

10ft 

10% + % 

22% 

lOta Olsten s 

J4 

U 

18 

IBS 

20ta 

20ft 

+ % 

7% 

3% OOklea 




6 

4ft 

4% 

4% 

7% 

ffft Openhn 

55a 

5 

66 

(0 

6ta 

6% 

Ota 4 ft 

2M 

1 Ormond 




3 

1% 

1% 

1% 4 % 

2SM 

15% OSuhms 

A3 

15 

16 

U 

zm 

23% 

23M + % 

rata 

6% OxfrnF 

52t 

75 

ID 

2D 

Kta 

I0K 

10ft 4 % 

11 

7ta OxarkH 

JO 

2.1 

9 

166 

9% 

9% 

9*b— % 


4K 1% 
4% 3 
24% SM 

% ft 
1$K lift 

lift a% 

21 1440 

23 10% 

3 1% 

3 IK 
1AK 10ft 
>% SVi 
14W Oft 

10% s% 

23% 15% 
15% 9% 


UNA 
USR I net 

Uftmt* 8 

Unlcwv 7 

Unkpil J75 SJ 
Unlmr n .11* 9.1 
UAirPd 54b 3J II 
UnCasFs SO 2.7 n 
UFoodA M S3 
U Foods 

timed 14 

UlHWIV .94J14.7 22 
UnvCm *4 

UnhrRj 19 

UnivRo nun 
UnvFat 


“1 2 ft 2 ft 

,S "fc 10 S 

33 14% 14% 
157 10ft 9% 
14 20 19% 

5 18% 18% 
100 2 IK 

40 IK 1% 
135 UK 13% 

41 04k 6 

43 13 11% 

125 7 0% 

b 164k 14% 
20 13% 12ft 


IK— % 
2ft 
Nft 

ir-> 

19%—% 
W%— ft 
IK- lb 

«b + % 

0%— ft 

144k — 4b 

13ft +% 


OK 3ft 
20 10 % 
HK 9% 
8% 54k 
lbft 13% 
1% ft 
10ft 7% 
W9h 7% 


17% 13% JOClvn 
7% 5ft Jacobs 
5ft 2K -tot Am 
2 ft JetAwt 
OK Oft Jetton 
Sft 2% JohnPd 


11% 7ft JotwiAm JO U II W 
11% 4K JWinlnd 3 29 


5HS 3J 9 4 13% 13% 13% 

. ID Oft Oft Oft + ft 

4 8 3 % ^ J % 

Jit SJ 16 M2 B% BK B% + 4k 

is » n » 


9 B% 9 
7ft 0% 7% + VO 


UK CDI s 
5ft CMICb 
1% CMXCb 
13% CRS 
94b CoesNJ 
4ft CatteA 
10 CaIRE 
U4b Caimtn 
3% Carton n 
Vk Calm wt 
7ft Catania 
9% Cameo 
134b CMarcfl 
lift CdnOcc 
25% CWlne 
7ft CoreB 
ift CoroA 
5K CareEn 
34 CarnPpf 
3ft Cmolai 
15% CastlA 
25% CasFd 
% Centerl 
1% Cent! Ml 


J4 1J 15 
19 

1JB 9J II 
AO 24 H 


jonao s 

J2 1.9 II 


5jOO 105 
46tl&5 9 
-Mb 47 10 
£200 7JJ 


10 22% 23 
10 8% 8K 

34 2 2 

22 18% 18ft 
70 12% 12ft 

3 4% 49b 

IB2 144b 13% 
36 14% 24ft 
31 5% 5ft 

18 ft ft 
28 8 7K 
20 10ft 10ft 
07 15% 14M 

4 20% 20 

3 284k 28% 
12 12% 12% 
12 12% 13 
40 104k 1DK 
710x46 44 

5 4K 4U 
229 174k 17 

5 31% 314k 
22 1% 1 
1 14k 1ft 


22 % +- ft 
SM— % 
2 

18% + % 
124k— 4b 

4ft 

13% — 4b 
2gk + ft 

ft 

8 -I- % 

16% + K 
1$ + % 
20 — % 
281k 

12% — 4k 
12 — % 
10% — K 
40 + % 

440 

17 — Vk 
31ft— ft 
1% + Vb 
1ft 


KllGjpf ASO 12J 
i KapakC 4 

KavCP JO 15 17 
KarJ n .10b J 

i KbOTN n AO 33 U 

' Kafdnn JOT 25 
KovCo JOB 23 
KeyPtl JO 25 10 
KsyCfl I 

KovCaun 
KhkMwl 

Kltom 35 

KlnarK 

KlrtJV 

KltlHfa 15 

KJeorV J2r 5 
Knoao 15 

KnaH 15 

KogarC 232 75 99 


20x 30ft 
04 3W 

0 13ft 
SS 11% 
2S 12 

473 23% 
25 9ft 
107 II 
25 5% 

5 7 

41 41b 

1 4U 
19 4ft 
40 3K 

■ 4% 

229 2ft 
105 13ft 
455 13% 
107 30 


30ft— ft 
3 —4k 
13ft 

114k— % 
12 + % 
27% +1K 
9% 

9ft— ft 
5% 

7 

4% 

4W 

4ft + ft 
34b 

4M + ft 
2ft— % 
IM + % 
13ft + K 
29% — % 



1ft L5B 
2% La Bam 
23% LaksSa 
lift LndBnn 
II Uknfcs 
Vft Laser 
21ft LeorPP 
34 b LsaPM 
13 Labtohs 
3% LetsurT 
7ft LbtFPft 
1% Lit* Rat 
2ft Utfld 
1% UXtoB 

23ft Lortnir 
8% Lumejt 
6ft Lundy E 
94k Lurta 
14% LynCSy 
8% LvncftC 


.I5t 

54 19 8 
32 15 17 
47 

3M 125 

11 

.101 A 11 
0 

A0 U I 


IV 

JIB 5 20 
17 
10 

JO 1J 11 
JO 23 IS 


4 1% 

40 24k 

65 55 
10 14 
12 lffft 
07 12 
38 21ft 
630 5% 

58 2940 

14 5% 

15 20% 
31 2Vb 
23 2ft 

9 2 

207 37% 
46 15 
12 12% 
100 10M 
230 36% 
7 94k 


1% 1% 

2ft 2ft + ft 
54ft SS 
14 14 — U 

16% 16ft— ft 
11% 11H- K 
24 24 — ft 

4% 4ft— ft 
20% 28%— ft 
Sft 5% 

204k 20ft + 4b 
24b 2ft 
2ft 2ft— lb 
lft 2 + ft 

36ft 37 
14% 14% 

13% 12% 

10ft ISM + 4b 
24% 34ft— 1ft 
94k 9ft 


7 2ft 
6% 410 

4M 2ft 
14% 9% 

3 2 

33 34% 

10ft 7ft 
13ft 9% 
4% 3% 
17ft !2Vk 
5 2% 

17% 13 
74b 2ft 
16% Vft 
13% 7K 

4 1% 


6NC En 

gri 

GTI 26 

GakmC 9 

GalxvO 53 

Garai I JO A3 10 

GatUt 

Gfllm5 21 


GfllmS 21 

Gomco 

GDrrfms 58 5.1 9 
GnEms JO 417 14 
GnAMcr .10 3 12 

GbaIscd 

GonvDr JO 15 12 
Geo Rea 4 


276 3% 
6 4K 
15 2ft 
336 13ft 
226 2K 
B 27% 
12 Vft 
61 12% 
3 3% 

991 17% 

9 4M 

10 14% 
56 4ft 
32 10ft 
46 lift 
65 3K 


2W 2%— % 
4K 440 
2M 2ft 
124b 13% +1 
2 2ft + ft 
27% 27% 

9% Vft— ft 
12 12 + K 

5U 3% 

17ft 17ft + ft 
4ft 44b 
14% 14% — VO 
4 4 

IBM 10ft + ft 
11M lift 4- ft 
34b 3ft 


14ft 12 
3ft 1% 
9% 7% 

1% 1 
16% &% 
Oft 3 
15K 7 

17% 04k 
2ft « 
UK 10% 
15% 84k 
13ft 3% 
224k 2)ft 
20ft 15% 
30ft 9M 
18% 8ft 
Oft 5 
22ft 12% 


MocSUi .10 1.1 24 
Mocrod 

AMPS 351 25 2 

Motor! S Mb 
M rkIVs 10 

Marm at 235 1CL7 
Mnhin 7 

MartPr 14 

iMailnd JOo 1J 0 
Matec 10 

MolRjfl .12 9 11 


134b 13ft 
1% 1%-ft 
Vft 9K 
lft 1ft 
0% 6% 

3ft 3ft— ft 
12ft U + ft 
UK 14M + ft 
lft 1ft . 

13% 13% 4- % 

10ft tow 
10 % urn— % 

21% » 4- ft 

10% 16% — K 
20% 56% —lft 
17 17 

OK tft 
12 % 12 % 


13% 
UK 
12 
SB lift 
58 35 
81 33ft 
404 29% 
25 24 
44 21% 
7B 26% 
24ft 
25 11 
56 22% 
34 19ft 
71 19% 
25 lffft 
i7 am 
76 19% 


9% VST It 30* Z 9 

M4k ValtvRB 150 73 9 
17% VOtBTI M 15 M 
2% VBItt 


14% VtAmC 30b 2J 9 
Vft Vnmli JO 2.1 10 
2% VBftPlB 

Sft Vtoon 10 

2K VMM 

12 Virtu Mr j 17 
53ft VatnH 

64b vmolG JO 15 10 
0 VootBX 5 U 11 
134k VulcQ> JB M 10 


JO 12 13 
JB M 10 


10% 19% 

114b 18ft + K 

s E J SUit 

3% 3%— ft 
0» OK— ft 
3 3W 
U% 14% 4- ft 
61 64ft— ft 

8ft Sft— ft 
lift lift 
II 18 + lb 


11% 

5% T Bar 

3» 65 

16 

90 SVk 

5 5 — 

134b 

7% TEC 

.16 15 

20 

7 UK 

1 

s 

3 


Earnings 

Revenue oitfl profits, in millions, are Hi local currencies 
unless otherwise htaiatlea. 


6 10 

6 % 

6 % 

«b , 1 

1 9 

24% 

24ft 

34 K -r 

9 51 

UK 

14% 

Uft c 

1 8520 

1 2 

18 

15% 

15% 

15ta 1 

15% ! 

ISO 

h 

% 

% 1 

t 99 

r 32 

liSS 

9K 

122 

lffft + ta 

122 -lft 

' 67 

274k 

26ft 

27% -tut 

1 33 

lift 

11% 

11% 1 

1B7 

ID 

17% 

34k 

17% 

3%— ft 

17% 1 

20 

Ita 

1% 

1% 

I 50 

12% 

12% 

12%— K 

2 

1 32 

70K 

8 

9ta 

■ + ft 

UU+ft 

8 

Sta 

Sta 

•ft + ft 

15 

r 6 

25% 

3% 

25 

2% 

25 — % 1 

2 

1 

1 

1 

1 37D 

Oft 

7ft 

Tft— 1% 

1 9 

lffft 

10ft 

l«-ft 

I 469 

12% 

11% 

lift— % ' 

t 129 

20ft 

tfta 

20ft +U4 1 

4 43 

1 194 

r 

20% 

39ft 

20% + K 

3V%— % ! 

1 62 

27% 

274b 

27% — K 

23 

2M 

2% 

lft— % 

> 206 

Uft 

10% 

11 + ft 

3 

1% 

1% 

US 

34 

25ft 

23% 

23ft— ft t 

3001 

44 

43 

44 +lft 

1 1 

Vft 

9ft 

Vft - 

r s 

14% 

14M 

14% J 

1 77 

4% 

3% 

Jta— ft 3. 

26 

15% 

15% 

15ft 7 | 

43 

18% 

184b 

IBta— % ' > 

57 

20% 

20 

20 —ft 

! 49 

9% 

9% 

9* 


Japan 


30ft 10 o<J0b« 


9% 5 RA1 351 33 12 

5ft 3% RMS El 
18% 15 Roflon .13 5 43 

20 124k Rumba 33 45533 

3% M Ratliff 


Sony 

II Halt IMS 1*84 

Revenue 679560. 607580. 

Prams 30110 35510 

PorSbOTfl— 165 152 

Stmufomo 

Tflar TOM 1983 

Revenue IU T 115 T 

ProfH 33330. 30300. 

Per Shore 4956 4557 

T: trillion. 

United States 

Humana 

MQaar. 1985 TOM 

Revenue tsos . sas.s 

. Net Inc. 5858 51.99 

10 2V 28ft 28ft— ft] Per Shore 059 053 

9 Moafltf HU TOM 


SrdQear. 
RsvanuB — 

Net Inc. 

Per Shore 

9 Months 
Revenue _ 

•Net Inc. 

Per Shore. 


Walter 

1985 1984 

5795 5«15 

33 J» 79 AO 
1J5 1.19 

1985 1984 

1560l 1530 

7129 0130 

258 250 


04 Oft 0% 6% 

11 3M 3% 3% 4- ft 


9 Months IMS TOM 

Revenue 2.130 1.950 

Net Inc — 103.92 147.91 


5 15ft 15% 15% 


NimMi nets tnctude Bains 


7Dnl6% 15% 10 4 % I of a mwtan from sate at In- 


Levi Strauss 

2 nd dear. 19H TOM 

Revenue 6157 6595 

Net Inc 3ZJ> 050 

Per Swre 050 017 

M Half 1915 19M 

Revenue — 1.130 1.190 

Net Inc — 455 I7J 

Per Share— . .133 043 

Wocth am t uii hodr * 
4thQuar. H85 HH 
Revenue — _ 1903 1833 

Net Inc— 1253 1138 

Per Share — , 058 052 

Year 1W TOM 

Revenue— 7007 5773 

Net Inc— 3065 2045 

Per Share 011 15b 


UK 5% Yank Co 14 147 8% 8% 8%— ft 

5% 4 Yaromr 58 15 14 29 5% Sft 5% 4- ft 


UK Sft Zlmer .10 1.7 42 5% Sft SM 4- K 


AMEX lli^is4jOv>s 



NEW HIGHS 26 


BloRadLflbB 

EMamndBatli 

ICHCBwl 

KetGhwm 

PGE 1200pfY 
PGE 237pfR 
SCHeTBOpt 
" StertSoft— ‘ 

- WakaNaR 

Blo Rod A 
DawnevSL 
inflluM 5wc 
ManPwntA 
PGE 2S4ofT 
PLto44Dpt 
stMBwell in 
TofEd42SW 
washRlEst 

CDI Carpi 
Flrstcarpn 

1 nitron s ■ 
NBwprtEl 
PGE 262PM 
POSPLptC 
5CE 1 

TolEd 776pf 
WshiHIthn 

CanMePpf 
Handyman n 
JetraMcind 
PG£ 1624Pt 
PGEUftrfH 

RusBBfl 

SCE 119pt 
Turner Brdn J 
W1RET . * 

• 

NEW LOWS IS 


AdonCp 

NumacOII 

T Bar 
TVftrwts 

CatnpCan 
PooeEvan 
TIE Comm 
UNA Carp 

CanOII Gas 
RwknchPt 
TefttKden 
WktBrdoC 

Ducanunui 

SumrnHtEnoy 

TexacoCdao 



Over-the-Counter 


June 19 


NASOAQ National Market Prices 


Sale* In Net 

1BH HUH Law SPJVLCllPO 


sale* 

1801 

AllnFd 

All Fin 

Aft Res 

AfSeArs 

AudVId 

Austral 

AfwdOc 

AulTrT t 

AutMed 

AuteSv 

Au tints 

AuteCa i 

Auxtan 

AvnIGr 

Avntek 

Avatar 

AvIatGn 

AzIcM JO 45 


Hleh Lew 3PJ4LCk'ee 
31312ft 11% 124k + ft 
8511 1Mb 10% 

4e3S 34ft 34Vk— K 
47315% 15% 15% — ft 
145023% 23ft 23ft 4- ft 
15 1% 3% 3%— ft 
75104k 15ft 15%—% 
00 *M Oft 0% 

115 4ft 3% 4ft + ft 

239 Vft BK Vft 4- ft 

202 Tft 7 7 — ft 

88 9 Sft 8% 4- ft 

21 04b 0 6 — ft 

28 7 6lk «K— ft 

8*0 19% 19% lVVk 
35184k IBta IBta 
183 Mta 10 10ft 4- ft 
17 44k 44k 44k— ft 


CapCrO 352 1% IK 1% 4- % 

CarPOU Mr S 1317 10% 16K— ft 
Co re mb 2403i8ta 9% silk + ta 

it i n i 

581 23 116 3% 3ta 3ft— K 

98 IK 1% IM 
. I 72913 12M 13 4- ft 
UOo 30 1401k 401k 46ft 

1926% 26% 26%— ft 
92 Vft 9 Vft— % 
150 5.9 267 30% 304k 30K 4- K 
739144k 134k 144k 
152 45 10033ft 33 32ta +1 

.54 3.1 13327ft 26M 26M— ft 

130 45 224% 24K 34K 4- ft 

30 X8 30 UK UK UK 
.10 12 10315% I4K 14% — K 

SM} 23 431 31 31 4- ft 

50 20 4240ft 40. 40. 

30 1% 1% 1%- * 

591 5 lllta lift lift 
5 14ft 14 14 

-12 15 76 7% 7ft 7% — ft 

191 2% 1% 1%— % 

4117 lift 11 lift— ft 
.10 15 10 54b Sft 5% 4- ft 

49 6% 6 6% + % 

228 1% IM IK— ft 

1B3 4M 4ta Mb + 4b 

21 Vft 8% VK— ft 
JO 15 10219% TOlb 19% 4 ft 

5 10ft 10ft 10ft + % 

1 14% 14% 14% + ft 

JHo 35 1420% 20% 20% 

34519ft Mta 18% — % 
13210 94k Vft— 4k 

38 15 176281k 31 28 — ft 

71 6% Oft 6ft — ft 
20 6 SM SM 
. 0817 UH 17 

130 64 3 25 25 25 

2884 10K Mta 10% 4- ft 

3*029% 29 29ft— ft 

, I°26K MV, Mta — ft 

UB A3 3531% 21 214k— K 

23031% Mta 3QM— % 
_ 44 OK 0 B — ft 

38 2.1 246 17K 17U 17% 4- ta 

.■10b M 131 7 B% 7 4- ft 

IJ4 102 47K 47% 

51r 1617% T Tft I7K 4 ft 

-12» 3 4334k 3Sta 35ta 

45515 UK 15 -4 ft 

I 36 7% Tft 7% 4 4b 

67 Sft Sft 54k 4 ft 

1-20 35 5340ft 40 404k 

J6 X4 114722K 21% 22ft + ft 

154 3J 2532% 32 32% 4 4b 

t 20139 38ft 38% 

T.«6 53 60S 34ft 35 4 % 

40 14 1108 11Tb 11% 11% 4 % 

5Kl 3 A 726ft M 26 4- ft 

UM 27 1038 38 38 

50 17 5224 23ta 24 

23 7 6ft Oft — Vk 
tS 18ft 17% 18ft 4 ft 
LOO KUO 3 20ft 20 30 4ft 

523254b 24 25 41 

3614% 13% IX%— % 
JOe 25 2 7 7 7 

299 154k 15 15ft 
80 2% 3% Zta— ta 

42017 16ft 17 4 ft 

36a 1 A 16240K 40ft 40ta 4 ft 

2S^^ 1 5?4K 

67518ft 18 18 + ft 

346 4ft 3% 4ta— ft 

3212% 121k 12% 4 % 

5524ft 23% 23% 

08 4ft 4% 44b— ta 

■« I 24 1 Uft lift IBft 4 ft 

JOB 33 15717 16ft 16% — ft 

50 17 4718 17% 18 4 ft 

LOO U 1434 33ft 234k— ta 
US 17ft 17ft 17ft— % 
74 15 4821 30% 21 4 4b 

S» 8ta CM t% 4 4b 

11513 11% 12 4 ta 

30414% 14ta 144k 
« .1 59 16 15ta 154k 

.12 A 18630 27% 30 + ft 

... 66 3% }% 3% — ta 

.10 13 19111k 11K lift 

335 lft IK IK 

LIO SJ 973*% 39% 39ft— ft 
JW 3.1 117 16% 1*H— % 

„ 5 i9ta iota iwa +iw 

UB U 157V, S7ft 57ft- ft 
-12 25 6278ft 77 77 —1ft 

34 24 58940ft 3946 40 + ft 

250 4.1 249 49 4V 4 M 

40715% 15% 15% 4 % 

30 33 3426% 26% 26% —lft 

■50a 45 42 10ft 10 10ft 

>7 IS 23ft 22ft 22ft + ft 
.13eT25 45 8% ffft 8% 4 4b 

4 12 UK 1I%— lb 
30 S3 130 30 30 —ft 

_ DO 2 1% 1% 

30 14 29228% 2SVk 28H 
45 9ft 9 94b 

■60 55 9011 104k II 

37620ft 30 20ft— ft 

768 Bft 7% Bft 4 ft 
Air .1 2910 «M 9K— K 

50 13 54731% 30% 314b 4 ft 

4 5ft S Sta + % 

40 8H 8ft Bft— ft 
30 3 2Tb 2% 

29 Vb Vft 9ft 4 ta 
11126 25ft 25% 4 4k 
_ . »SV4 J 5 — *b 

80 5 4310 9% 10 + ft 

6 6 5K 5K— ft 

9 1% 8ft 8% + ta 
60 8% 8% BK— ft 


Sales h] Net 

MOs Htob Low 3 PJH. arue 
. . 103 4ta 4% 4%— hi 

240 55 26*6 45 45 — IM 

40 1 7ft S + Vb 

.14 1J 143121b UK 12ft + % 
■14a 15 3 1 8 8 

56420 19% 19% — lb 

Jlr S 24522% 22% 224b— % 
5 64k 6Vk 61k 

-Me 3 U2I7M 17ta 174k— ft 
JO 1.9 43910ft 10% 10% + ft 
352 1% IK 1% + K 


in 

43 

90 

M 

31 

76J 

3’ 

318 

57 

32 

M 1 

75 

52 

t 


*0 

50 

30 

314 

JS 

77 

9 

31 

16 

1*01 

*> 

11 

1C 

.13 

S3 

1 

9J 

3 

0 ?e 

.7 

5 

103 

.16 

.9 

339 

774 

CM 

3J 

71 

1C 

II? 

Bi 

J4 

53 

134 

*47 

56 


27ft 43 
46ft + ft 


13% 
37V 
7% 
S9ft 
Bft 
Bft 
9ft 
Vft Vft 
19% 19V, 
Uft 13ft 
ISK 14% 
12ft 124b 


33170% 

19% 

i«e 7% 

»ft 

as 

Sft 

62176ta 

»ta 

1138 

38 

2516 

15% 

17 51* 

5 

10012 

lift 

7810 ft 

10 

12311% 

11% 

131121k 

12% 

44820 

19% 

93 4ft 

4% 

266 17 

lift 

*54 *v 

ft 

79 Bta 

■ta 

561917ft 

16K 

689715% 

15% 

277 04ft 

23% 

IS 14 

114k 

584 71 

20ft 

I 9ft 

9% 

19 51b 

4% 

19 11% 

19ft 

VMIVta 

28% 

20 8ft 

a 

139 Vft 

8% 

HI 32 ft 

31% 

•911ft 

11% 

104 Oft 

9% 

74 11b 

3% 

910% 

ID 

BB TV* 

6% 

531? 

16ft 

VI Uft 

1J% 

84 Bta 

7ft 

181 »ft 

50ft 

133 re 

2S'j 

4101 «'.k 

39’* 


CmcJBfl 200 4.1 
CmcIFd 

JB 37 
30a 45 
54 47 
.I2BT25 


DuaSrs 

Durtth 

Durtim s U8 33 
Durtran 56 5.1 
DurFII .18 1.1 
OvnRs 
Dvnscn 
DmtcfiC 


Sales la Net 

1801 HtBb Low SPJA.Ch'ge 
10124 23% 34 + % 

1 19K I9K 19K 

0 33 1038ft 38ft 38ft 

6 il 2711 10ft 10% 

B 1.1 485 17 16% 16K 


Sales be Net 

HOs HIM Law SPALCb'oe 
150 35 1741% 41% 41%— % 


85 17 16% 16M 

17% 7% 7ta +1 
11 5 4% 4% 

5934 23% 24 


s 

w-% 

’SS- % 

26% 4 ft 
20 — ft 
23ft + % 
104k 4 ta 
15ft + ft 

* -ft 
49ft — 1 
4ft 4 % 
31ft 4 ft 
3% 

4H— ft 
39 4 K 

13ft 

15% 4 % 

20 — % 
4 4ft 
5% Sta 
4ft 14ft— ta 
2% 2ft 
Sta Sta 
0% 18ft 4 1% 
8% IBta— ta 
BK 8% 

4ft 56ft + % 
2 2 — ft 

™. 3% 

23K 

5% 


1% 

1% 

4% 

47b 

/% 

7% 

2% 

2% 

/ft 

a + k 

10% 

10% 

£ 

Vk- ¥t 
2% 

7% 

7ta + ft 

12% 

12% + % 

31% 

31K + ft 

9% 

9% 

IIW 

11% + % 

15 

15% 

iu% 

10% 

10ft 

10ft— ta 

IBM 

18% 

17% 

17M— ft 

17 

17% + 4(, 

54k 

5% 

44b 

4% 

6% 

6ta— ft 

16K 

lift +1% 

Mlb 

14% — ta 

U 

13 — ft 

MM 

16% 

12ft 

12ft— Vb 

10% 

11% 

35% 

354k— ft 

9ft 

9% + 4b 

Ota 

8% + ft 

/ft 

7ta 

3 

3 — % 

V% 

9ta + % 

4% 

4ta + % 

13% 

14ft + % 

2IHk 

30% + % 

18% 

18% + ft 

114b 

in* + % 


3% 

UK 
17ft 
30% 

17% 174k 
7% 8% 
22 22ft 
1% 1% 
9% 9% 
4% 4% 






1015% 





5940K 

40 

40% + 4k 



48 a V, 

Sft 




10 10W 

TDK 




58 11 VI 

11% 




447 B4k 





170 6U 

5% 




467417ft 





481 8% 

/% 

BK +1% 



611 





224723% 

23ft 




7728 ft 28% 

2Mb 

.13 


41 Cft 

6% 




103 




33518% 

18ft 

18ft— ft 





lift + 4* 



380 3% 

aw 




10 7ft 

7 




6610 

17% 




* 34k 

3% 

34k— ft 



27 Sta 

5% 

5% 


50 

1394k 

394k 

39% + 4b 








10 JH 

5% 

5% 

Jh 

J 

15024ft 




73210% 

10% 




45 3% 

3 


32 

3JB 

15224ft 

24% 

24% — % 

30 

13 

635 IBta 

UH 




23 lft 

IVb 

lft * H 

JJ4 

M 

10114b 





U 64b 

6 









196 1% 

iS 

1% + lb 






JO 

45 

81249 

47% 




2 6% 

4K 

6ft— ft 



6 4% 

4% 

Jta— ft 



215 7ta 

7ft 




2 

OK 

8ft— ft 



1 3% 

3% 







JO 

19 

1127% 

27 




1919 3% 

2% 

2ft- % 

so 

33 

14423 

22% 

23 + % 



10711ft 

10ft 









137 4ta 

4% 

4ft 



169214k 

21 

21% + % 

n 

4.1 

3 9K 

9ft 

Vft— ft 



136 

36 

34 — ft 



26 4 

4 




11 4K 

4ft 


34 

33 

87711% 

11% 

11% + % 



11*14% 

Uft 

Uft— U 



314 

14 




24 SW 

Sft 


20 

J 

31224% 

24% 


20 

33 

44836 

35 

35ta + ta 

36 

63 

121% 



20 

13 

5 16% 

16ft 

14% 

40 

25 

515% 

154b 

15% 

TO 

AS 

76625ft 

25 

2Sft + ft 

2M 14 

3412% 

12W 

12ft 



6911% 

11% 

11% + ft 




24 

24% + Vi 



9118ft 

18 

U + ft 

37 


S9I9K 

19% 

194k + % 


4M6% 

164k 

lift — % 

24 


10 3% 

3H 

3ft 


103 21% 

ZJft 

a%- % 


Sales la Net 

1806 HIM Law 3PJWLCh , W 
Justin AO 2.1 4519% 19% 19% 4- % 


KVPhr 

Kunan 

56 

u 

Kamiwt 

Karctir 

Kasim 

30r 3J 

Kovdon 
Kavnra 
vIKoivJ 
KellyS A 

M 

14 

Kemp 

1J0 

3J 



+r 


I24k 12% 
9% 10 
UK 13% 
IBta 19 
194k 19% 
7ft 7ft 

‘ft ? 

22ft 22ft 
6% 7% 
34b 34b 
9% 9% 
3% 3% 
5% 6K 
7% 7ft 
454k 45% 
9% 9% 
7% 74k 
4K 4ft 



MaaGo M S3 
MOIneN 170 2S 


1 4% 

Jta- tb 

i 19 

19 — lb 

10% 

10% + 4b 

i 5 

54k + Vk 

13% 

13ft— ft 

54b 

SW 

11% 

12% + ta 

10% 

19 

4ft 

4ft 

aw 

24b 

% 

M 

k 

5 — ft 

Jta 

16% 

16% + % 

9% 

Vft — % 

42ft 

42% 

29v. 

29ft +1 





































































































INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


Page 17 


Over-the-Couiiter 


June 19 


NASQAQ National Market Prices 


■?* 


Sduli I 

tie* HM LM JP-M-QVe 

(Continued from Page IQ 


Mcerm 

UcFod 

McFeri 

McGill 

McGrth 

Mectrtr* 

Mednfcst 

«edeoc 

Modes 

Atodcat 

MedCISt 

MediGI 

MxWs 

MeaOla 


1 SI 



MemrtJ 
Mere Be 

MercBk 

MerBCa 

5**rBPo ua M 
MrdiCo 

MerehN 130 12 

MrdBct 

Meries 

Merirnc 

JHWJl 

Me&ii? .Tfllr J 

SSffi 

Miatstr 

MldlNtl 

Mlcmn 

MIcrD 

MkrMk 

Mlertfv JH U 

MterTe 

Micron 

Micrpro 

Micros 

MlcrSrn 

NUsrFIt 

MW ABC M 24 
MKANH UDe £5 
UdPcA 

MdStFd JO u 
MdsxWs TJO u 
MUIBfc 112 22 

MOW Air 

MdwR) 120 73 
MIDHr AM U 
MIHNw At 11 
Mlntocr 


Wl» MUM4-K 
BI» W» Jfift 
mm m ink— « 
IX 30 30 

13* 0ft I I — H 
I MM MM MM— ft 

et tn n% u%— % 

3»ft 3M 36ft 

n n» s% s*6 + % 
81M » » 
an iim im 

X 5 4ft S * V 
11225% 25% W + ft 
2i 4» -fl* JH + ft 
13217% 17% 17% 

2» 22ft- H 
li 37% 37% 37%—% 
am 54% 54% — % 
3 m c% 
soon 4F*t so + % 
211*% 10% 10% + K 
954% 53% 54% + % 
25034% 34 34% + % 

1017* 17% 17% 

714% 14% M%— % 
Win 1X4 UKr 
»UK M M +« 
5613% 19ft 13% + M 
42517 15% 75% — % 

34310% 10 10 

140 5% 5% S%— % 
100327% M 27% + % 

S 11% 15 14% +1% 

3% 3% 3*6 — % 
44 MO 4% 4% — % 

t» 5% 5% 5%— % 

1157 6* 6ft 6% 

117 7% 7 7 

COM % 13k— K 

10 3% 3% 3% 

114 4% 4% 4% 

Ml 3% Jft- % 
121% 21% 2114— % 
122 22 22 
24 3% 3 3 — % 

109 22 21% 22 

1923 % a a — % 

■2*3946 39 3904 + % 

234 5% 5% 5% 
0*17% 16* 1434 + % 
2223736 IT 3734 + % 
15142% 42 R% + % 
3 310 


A 1 


a 

” ‘ * 


Wnetnk 


339 0% B 

B%— 

- ■ 

o 




MHafar 


40022% 21 

21 — 

- - 


4 

■ • 

j , 

Mlsctw 


nn% 13% 

13% — 

4 - 

( 



. - *, 

MGosk 

Ale .1 

«S 9% 9 

9 — 



— 


• . • 1 

MHwi 

.lie 2 







v . : *’ v 

MflbiCA 


1410W 10% 

10% — 






MofafCB 


13210% IM 

K»l 




e- 


MebGos 

320 72 

sim 13% 

13*4 



f 


' ‘ 

MOCON 

JO* 2 

50 7 4% 

7 + 


. 

1 


■ ■ 1 1 , 

Modifies 

mo a 3 

141 IS* 11 

lB*k + 





rt ^ 

Mo/sdr 


20 7 4% 




, * 


“ ■ — ■ . 

Msln 

23 .1 

50320% 29% 

29% — 



- 

*• 

» ■ ' ' l **"**w_ 

MonCo 

JM 

51144% 43% 

4m + 

* * 


m * 

■ 

. ■ . . 

Atoocor 


SMS 1% 1% 

1%— 

3 


* 

‘ - - , 


Monta 

J3e xi 

117 77 

17 + 




MonAnt 

Mamin 


4 • d 


> V 

!:S! 

Mi 

-'ll £ - 


MoareF 
MorFlo 
MorKfl 
MC5B 

MU I ID 

Mosel av 
Mas Inn 34 
Motab 30 
Mueller jjb 
M uttbki M 
Multma 46 
My Ians 


130 42 
UOb 44 

ji 

J4 U 


AM 2 A 

22 
L5 
0.1 
2 A 
LI 


1W 9% 034 * 

i* * *«> nt— % 

7*41134 10% 11% + % 

5131% 31(4 31% 
19024% 2530 25% 
41944 1940 1940 
31 12% 1136 12 + % 

2273* 2734 2734— % 
2541936 1934 1*34 
19 4 3% 4 

40 13 12% 13 

313% 13% 12% 

422 21 a 

17327% 2436 2436 
0545736 57% 57% + 30 
12X25% 2*36 2436— % 


it 


• 

- - 


~ f* ■. 

NBSC 

M 

u 

3020 20 

20 + % 

' 

- “* 


■ ^ 

MCA Cp 



lift 5 

5 

— 

• 1 . 


* * - ; . 

NEC 

.1% 

4 

19120% 20% 

20%—% 

• - 


\* ■ 


NMS 



237 M0 5% 

5% 

— -- 



V ^ 

Nraxol 

JM 


S15% 15% 

15% 




- ( 55, 

MOOCOS 



34613 t2% 

12% + % 


j. 



NoWiFn 

UO 

15 

2027% 27% 

27% 




.- * % J 

NotbF 

t 


12 3% 3% 

3% 




' • T-e 

NBnTex 

JU 

40 

8821% 21 

21% 




J5* u 


11 


\MI\lfcrM 


i* 




NtCopll 
NCtvBn 
NttCtv 
NCmBe 
NCmHJ 
NiCotr i 
NData 
N Hards 
NHHhC 
NtHMO 
NlLumb 
Niwian 
Nil Penn U0 
Nil Pro 

NTecti I 
NIWnLf 
MmrtP 
NotrBtv 
NlrSuns 
Nmmie 
NetsnT 
Nelson 
NwfcSec 
NtwkSs 
NtwfcEl 
Naums 
NevNBc 
NBraaS 
ME Bus 
NwFPtO 

20 1 * 
L12b 19 


XU 424 3% 334—% 


2*15% 15% 1534—36 
34*45% 45% 45% + % 
1029% 9 200— % 

270 70 711 

14017 14% 14%—% 

37011% 1136 1136— % 


NJNatl 

NYAlrf 

NwCtrv 

NertdBk 


‘‘■oil. 


. PEI 

. • Vnwppk 
_ » N ion a 
. KIckDB 
Nice 
Nike B 
Nobel 


NrskBs 

wanton 

NoANdt 

NAtllll 

NCarGs 


14M 9.1 
290 44 

40 24 

240 44 

JO 12 

AM 19 _ .... 

M 7% 7% 736 + 

443534 34% 3536 

12 7 436 436— % 

7 53k 5% 5*6 + 36 

U0 0% 2 3 — % 

1234% 3436 343k +1 

27410 93k 936 

5 336 336 3*6 + % 

2515 1436 1436 

2S* 5 4% 4*6— % 

47 3% 3% 3*6 + % 

4 436 4 4 — % 

127 4% 436 436— % 

9 436 436 C3k 

IS 7% 4*4 4*6— 36 
574 9 03k 9 +% 

3124 a % 20% 21% + % 
34 436 4% 436— % 

man sou ao% + % 

14 4% 4% 416 

47012% 1136 11% + % 
4325 23% 24% + % 

7 36 36 36 

1192734 27 2736— % 

0720% 20% 20% + 3k 

13 4 4 4 

4515% 15 15% — % 

»»** 

_ 4 4 

410 1096 KJW 10% 

tU 336 3*6 2% • 

40 36 *6 36 

4014% 14 14 + H 

115511 10*6 11 + % 

n 10% 10 10ft + % 

* 17 7 . 7 7 

-64 34 2671036 10% 10% — % 
44 2 (42547% 4436 4g6 

14530% 37% 30% + 36 
M 7 7 7 — % 

jnr .1 45 936 934 936 + 36 

34 4(6 4 436 

144 74 925% 25 25 


U 


J2 22 


UO 72 


44 J -022 


In 


Not 


OrtsMl 

OrfoCP 

OrtonR 

Oshmn 

Osmne* 


1% 0% 


JO U 380 


OttrTP 230 14 


OvrExp 

OtenM 

0X960 


1* 8% 

00 5 % 

1217 14% 14% 

14 15% 14 

4017 WH 14*6 
713234 32, 22% 


40 19 90 


ft T 


| 



P 


| 


.12 

U 

20 7% 

7 

7M — % 



u 

5201% «1% 6*%— % 


264 

A 

2os2 m 

9% 

9% + M 



791 44% 






10921291 

72 

72% + % 


ua 

,42 

597 ir% If 

J9%— M 

PodTel 

J0 

02 

8212% 

12% 

12% + U> 


J2r J 

118% 

WM 

16% + M 

focopk 







71 2% 

3% 

3M + M 



17 

S9 7% 

7% 





0M2M 21% 

21% + M 

Forms 



5020% 19% M - % 




Ml ■ 


17 — M 




jam 


14%—% 









44 

jn -a* 

13% 

13% 




ism mo 





290 7% 

7% 

7M 




6 3% 

3% 

JM— % 




104011% 

MK 

10% + % 



3J 

3333 

32 

33 + % 


( 


10521% 

20% 

21% 




2010% 

mt 

10% 




130)4% 

14 

MM + M 




2717*4 


17%— ft 




4X1 (to 15% 

15% — - % 




746 MM 

2X% 

24M + M 


JM 

3 

564 8% 

1% 

■% 


uoaxa 

748% 

48% 

48%—% 


UB 

33 

1556% 

56% 

56% + % 


2J0 

6S 

634 

34 

34 — K 


AM 

23 

5425 

M% 

29 + * 







Peon Ex 



2835 UM 

9% 

10 + % 

PeeCef 

244 ns 

3119% 


WM + % 

PgnE POS250 

62 

4629% 29% 

29(6— (6 

PaoSaC 

UO 

U 

326% 

36% 

36(6 + % 

Popes 

PecpRT 

JB 

23 

« 

11% 

% 

19% 

16— & 




36 7% 

7* 

7*4 + 14 




79622% 


20*6—1% 




31 7% 

7% 

7ft 




10 9% 

3% 

3*6 — % 

PET CO 



09 2% 

2% 

2% 


U2 

42 

■4427% 

26% 

26*6— (4 




5 2% 

2% 

2% 




2«3 6% 

6V6 

+34 


2Tx 

S 

54715% 

15% 

15M— M 




70 4K 

4% 

4* + to 






3% 

PSF3 

JOB! 

S 

MM 10% 

10% 

10% 

ptura 

40* 34 

187415 

14% 

14ft— % 

PrvtxAm 



3 3% 

2ft 

2% 

PhotoCS 



11 7% 

7% 

7% 

Ptnmln 

ON 


28 5(6 

4% 

5% 

PTcSov 



121525% 

25% 

25% + M 

PIcCoto 

40 

24 

2022% 

23% 

22% + * 

PUIK 

22 

22 

626 

25 Vi 

26 +% 

necMo 

24 

25 

4 74* 

14% 

14% + M 

PtonCto 

JO 

IS 

2320% 

20 

30% 

PlonHI 

SI 

24 

75335 

34% 

34% + % 

PlonSS 



103 7% 

7% 

7% — % 

PtonSts 

.12 

U 

250 0% 

• 

a 

PWxntrC 

44 

20 

12*2% 

31 

31 — % 

PtzCSC 

.TO* 17 

rail 

* 

6 

Plenum 

M 

2J 

rfl 


41*6— % 

PeRrtfc 



6410% 

KJ 

10 -% 

PtcvMo 



281921% 

71 

21 — % 

PoncaF 

Poorest! 

JSr IS 

x2 3S $ £+* 




4025% 25% 25%— Mr 




45 3% 

3% 

3% 




2810% 

9% 

9% 

PwConv 



141 SM 

8% 





415 3M 

2% 

PrecCet 

.12 

A 

5932% 

3X6 

32 + % 

PMFod 



44 6% 

5ft 

6M + ft 

PWitofc 

J2 

73 

130% 

30% 

30% +1 

PMSOV 



IB 7% 

7M 

7% + % 




a 5% 

5% 

S% + % 


JO 

A 

15419 

17 

18 + M 

PrstnO> 

JO 

32 

45615% 

15 

15% + « 




3V 4% 

4% 

4% 

Prten 



83 3% 

JM 

3% 

PrtcCfn i 



9M12M 

lift 

12M— % 

PricsCo 



25759% 

50% 

59 + ft 

PrlnvD 

.14 

23 

220 6% 

5ft 

6 




217 F% 

9 

9VV— M 




29 3% 

2% 

3(4 + % 


J* 


45 4% 


4% — M 




4 5% 

5% 

5% + M 




11 SM. 

5% 

5% 




in 33% 

32% 

2236 + M 




6 5% 

5% 

5(4— M 




30 3% 

3% 

3% + % 

PrtxteTr 

120 

U 

14413% 

13% 

13% + ft 

PmtUm 

44 

3J 

43719% 

19M 

T9% + (4 




10717% 

17% 

17% +14 


30 

24 

44823 

22% 

22%— % 

Prvdac 

PubcoC 



N% 

1% 

'ft 

PbSHC 

UO 

7J 

323 

23 

23 + % 

PoSdSc 

1.12 

10 


F 

37 +1% 

PutoeF 

40 

12 

627 

27 — ft 





6% 

6% + % 

PurtBn 

AM 

U 

22% 

22(4 

| 



Q 


| 

QMS 1 



1MB 8% 

0% 

8%— % 

Quodrx 



73 6* 

6% 

6%— M 

QuefcCa 

JB 

aj 

610 

10 

10 +% 

QUOlSV 



1 l% 

1% 

1% 




42 9% 

9M 

9% — % 




49119% 

18% 

19 + % 




1 5% 

5* 

5% + (4 

QuestM 



51 4 

3ft 

4 

QuesSdi 



7 9% 

8% 

9% +% 

Qobrte) 



10 4M 

6% 

4M + M 

Qotxoto 



9110% 

9% 

Sft + M 

Ouetm 


299010*0 

10% 

1 


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R 


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— 1 


NO FrRH lJMlt T033MA 3SVS- Mk + % 

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NflWWS 913 

R9. reww*; 

NwtFns 40 2J 14531% J«k 3W6+ % 

NwNLs 40 24 SM9% Z7% 20 V6 + % 

NwsIPS 2.10 U .142334 23*6 2M6 


HJFN1 

rucp 

g™* 

RootnT 


Ato .1 

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44 


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Ram Fin LBS 


Rongolr 

Raymds 

RavEnx 


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4392936 


19 03 


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VlP J 

a 936 9% 9%— % 

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4501436 16 14 — 36 

613 936 9*6 936— K 
4912 1136 1136 

0 0 —3k 

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29 » — % 

5M% M% 24% + 36 
200 336 M 3%— % 
2 636 434 434 + % 
923 22% 22% + % 

42163k 16% 14%—% 
141936 1936 1*36 
1M 15% 15(6 1S%— % 
14S 7V. 7 736 

24 a 20% 9 9 

143411% 19*6 11% + % 
X 9% 83k 136—% 
34 150 5% 5% S% 

4 932153k 15% 15% — % 





129 4% 

4% 

4% 


RetdAUl 



229 7% 

7 

7% + % 






13% 


J7I 


4118 

17% 

17*6 — 

% 


J3l 


0 f ■ 




t 


197531% 

31 

21*4 + % 




49 3 

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fro 



|(1 

Lj 







3*4— % 

Naxefl 

92 

U 

343 53% 

52% 

53% + % 






*. -7* 




6419(4 

15 

15 

NudPti 



189 6(4 

4 

6 — 

% 

RrtCntr 



2122% 

21% 

22% + % 


J2 

2J 

551 M% 

13% 

14% — % 


.n 

4 

1319 

14% 

1* 


RpAuto 

44 

SA 

IS IM 

M 





3 5ft 

5ft 

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147 7*6 

m 

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RpHItb 



55310% 

18 

18(4 + % 

Teftntct 



■4V26M 

25 

26% +1 


2* 

32 

327% 

V 

27% + % 

RscPsn 


1427% 

36% 











*1:1 

s% 

*%— 

ft 

ReslAAg 

Ml 


9417 

16% 











8010% 

10% 

10% +% 

ReetrSy 



7215% 

14% 

15% + % 


JIB 


43921% 

20% 

2R4— % 



















| 



o 



1 

ReutrH 

33* 

3 

7026M 

26% 

26% — % 

TnelE 



333 3% 

2% 

2% 














hi 






OCGTC 



40 1 

1 


M 


1 34 

32 

22529(6 

■% 

39% +1 





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1*5 4KT 


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Rhodes 

24 

U 

162(4% 

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14%—% 





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Oak HIU 



50 3(4 


— 





335 SM 

7*4 

3% +% 














1-: - □ 











Octltai 



4116 



Rtoa»N 

2J0 

34 

2331% 

57% 

53% 







Off+Loo 



304 19h 

lVi 



RK*vs 



17 2% 

2% 








OoflGP 

UO 

2A 

54545(4 



% 

Rival 

JO 

55 

556)4% 

14% 

14% — % 








2.16 

7.1 

1231% 

X( 4 



RoadSv 

U8 

U 

45428% 

20% 

Wfx + % 







ONoCa 

2J0 

43 

11040% 

60 



RebMvr 



412% 

12% 

12%—% 






17*4— % 

OtlDrle 





lW— 


toobe*i 



7 6% 

6(6 








OUKrtfi 

UO 

34 

18229% 




RtobNue 

J6 

J 

613 

n 

13 — % 








M 

XI 

47215% 

35 


RobVsn 



MITM 

HM 

11%— % 








IM 


3629% 





-Ml 


BW% 

10% 

18% + % 







CMdSpn 

2A0 TU 

1371% 

21% 

27%— 

% 

RMUttd 



179 m 

9ft 

«*— ft 








U0 1X0 

5421% 




RkMtO 

40 

SJ 

3311*4 

(1% 

11% 







OtoonF 



214 

11 

14 

RosesSi 

20a U 

2324% 

22 

22 —2 







OneBcn 

jse 1J 

23621% 

20% 



RaeeSB 

JBa 1J 

5424 

23% 

24 — % 





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w 4- k 




46 7 




RMPtob 



717% 

(7 











62 2 

2 



Rouses 

J4 

2J 

104 23% 

23(4 

23% 



92 


31% 

31% 




16414 







8% 








OPrtcB 



85743% 

42% 

43% + % 

RoyPIm 



4572M 

HM 

12% 




5026% 

34 

26% +2 





15 


RoyiRs 



204 4% 


%-rS 





12% 

13 




2914% 

14% 



RaylAJr 



32 9% 

9% 

9% + % 







Orbit 



10 4% 

6*0 



RyenFs 



33010 

17 

17 — % 

Tmsit 



275 2*4 

2% 



lie Met 

s HWI Low 3P44.CVP9 


1 



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1 

9A4SM3S 

.a 

13 

51 11 

10 

10% * % 

SAY Ind 



6273% 

13% 

m* + % 

SCI 59 



72011 

10% 

10ft 

5£l 




16% 

16ft— (6 

SFE 

JOr 14 

16 7% 

7% 

7% 

SRI 

JO 

17 

1278% 

18% 

IBM— % 

■ STV 




e% 

9 — % 

Satdile 

M 

J 

3528% 

28% 

28% + *6 

Serf red s 

30 

11 

556 1314 

18 

10 — % 

Safeco 

140 

19 

3541*4 

41% 

41% + % 







SUoe 

5th 12 

725% 25% 

25% 

SUude 



16414% 

13% 

14 

SI Poof 

3J0 

A3 

504470ft 

70 

ttm, + ft 

SotCpt 



359 5% 

5% 

5% 

SonBar 

JJS 




3% 




103 1ft 

1% 

1% 

1 SatelSv 

.12 

13 


6ft 

+ft— ft 

1 ScvnF 

UOo <0 


39% 

40 + % 

sweep 

450 72 

8123% 

22% 22ft— ft 

SvCKPS 

24 

32 

1«*& 


Sconce 



331 7% 

6ft 

7 — ft 

sconTr 



1373% 

13% 

13*6— (4 

saierer 

32 

29 

27411% 

raft 

lift— (4 

Schetat 




17 

17*4 + % 

SdttmA 

AO 

IQ 

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19ft + % 

Sdm«d 



2 7*4 

7% 

7ft + % 

ScUTvn 





0 

SaCmp 

32 

AO 

14 5ft 

Sft 

5ft + % 

Scflncs 



7 

7 + % 

SCtMiC 




4% 

Sft- % 

SdStt 



4 Eft 

8% 

8ft 

StiSvSv 



699 5ft 

S¥> 

5ft— % 

Scttex 




14% 

J4*6— % 

Sena* 



54 Sft 

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Seagate 




5% 

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SMinc 




6 

6 






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ScNtBId 

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& 


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K 

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25 

26 





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2ft + ft 

SCEQ 



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1ft 

2% + % 

Stibti 

JO 

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7430 

19% 

19%— ft 





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6% 

6% + ft 

Srvmai 

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4 

47914% 

14% 





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SvcFrct 



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1013% 

13% 

13(6 




47 M 

Sft 

46$ + % 





66% 





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38 4% 

4% 

4% 

saieoa 



78 6*6 

64* 

6ft 

smeens 



■518% 

MM 

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SIDcVal 



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12 

12% 




5617% 

17 

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11114(4 

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4% 




1223% 

23% 

23% 

Skinner 

24 

4 

M SS £7* 




4 7% 

7% 

7% + % 

SautW. 



253 3 

2ft 

3 — % 

SmRhP 



73 9ft 

9% 

sr* 

SneiSnt 

A0* 43 

1 3% 

1.1 

Society 

U4 


11845*4 

45% 

45*6 




Fr.r.J 

IBft 

18ft- K 




134 8(4 

7*6 

■ 




58413% 

12% 

13% + *6 
10ft + % 

SftwPb 



5410ft 

10% 








‘Me 

14 

6621*6 

21% 

SoMRXJ 

125 7J 

1279% 

» 

19*6 + *6 

SoScSC 

J3b U 


23 

23 — ft 



7 A 

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86% 

24(6 

SoHteP 


64 3(4 

5% 

5%— (6 


S3 

13 



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UO 

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40*27*6 

27*4 27% — % 


.10 

720 6ft 

6ft 

6*6 + % 


140 

13 

49946% 

46% 

45(6— (6 




36510% 

9% 

10(4 — % 




93 U 

75% 

75ft 




21634% 

23% 

24 + ft 

5oecCft 

J6 

9 

31 Ok 

6ft 

6ft + ft 




10512% 

11*6 

12% + % 
2% + ft 
14%— % 

SpertiO 



5 2% 
414% 

2% 

14% 

StorSrs 



51 7% 

7 

7 

StofBW 

JB 

£ 

3 6% 

fft 

6% + % 

Skmdye 

UB 

12929% 

72 

28*6 + ft 

SM4UC 



159412ft 

11% 

11*4— 1ft 
22*6 + % 

StReas 



3432% 

32 

StonfdT 



313% 

13% 

13% 

Stmhei 

1JB 

XI 

233% 

23% 23% — ft 


UA 

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11063% 

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SfateG 

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73 Aft 

4*6 

Aft + % 

Sterner 



71 5% 

5% 

514— ft 




11 7H 

7% 

7%— % 

StewStv 



7112% 

12(4 

12(6— % 

Stvrinf 

32 

11 

3423% 

23 

23(6 + % 

SfewSn 

J5 

SJ 

3 3 

3 

3 +% 

Sttfei 



25 6% 

6% 

6% 

SttfcYlo 

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u 

514 

14 

14 

Stock Sv 


32 9% 

9ft 

9% 

Strrteue 



243514% 

19% 

14% + ft 

StmOa 



723% 33*6 33ft— % 

Stryker 



1331% 

33% 

33% 

StuDS 



18523 

22*4 

22ft- % 

StacrtH 

SB 

1J 

6 Aft 

Aft 

AH 

Subaru 

140 

12 

4X43% 142% 143 

5ebrB 

192 

11 

18761% 

60% 

61 + *6 

9 —ft 

Sratory 



61 9* 


SotSS 

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J 

19820(4 

19(4 

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Sumrna 



126 3 

2ft 

2ft- ft 

Sum ns* 

J6 

A3 

3322% 

22% 

22% 

SomtHI 

JTk 

3 

26412% 
53 1ft 

17% 

12(6— ft 

SunOS 



1ft 

1*4 

Sunk* 

M 

39 

57 6% 

6 

4(4— H 

ScmMfMf 

ShnSr^ 

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2 0% 
490 6 

■K 

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st=s 

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41 5% 

fft 

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Sunvnt 

140 

13 234344 

43% 

44 +16 

SupRte 

1% 

3 

5121% 

21 

21*6 + % 

SuperEI 

32 

20 9ft 

V% 

9*4 + % 




60 9*4 

3% 

3ft— 16 

SoorEq 

Sykes 



xiJV 

0 

% 

0 

*4 + 14 

SteBbfn 



6 3% 

3*4 

JH 

SrmbT 



6SW% 

(0% 

10(6 

svmbflc 


2077 TOM 

9ft 

70% + ft 

Syeeor 



AS 4% 

4 

4 

Smtedi 



<712 

lift 

11*6— ft 




62 3% 

3% 

3% — ft 

SyAsoc 



TO 

25% 

35% — % 

swin 



Aft 

8ft 

Syemta 

SvstGn 



niSt 

8% 

8*4 

SVstmt 

M 

3 

6021% 

21 

21 

1 



T 


1 


TBC 

TCACb 

TSCMC 

TSI 

TSRS 

TocVtvS 


3411 W% W%— 36 
.12 J 3502234 22% 2336 + W 
04 B% 0 1% + 3k 

20 2 19 9% 0% 136—% 

4 916 9% *%— % 

19 5% 5*6 S6 + % 

112621m 14*6 1536 + % 
1244 4% 434 4*k— % 

TdlllKS 20 A 14 63* 63k 636 

Tecum 220o 34) ODW 105% 10636 + 3k 


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LOW 3 P.M. ctfoe 


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TrtodSv 

TrlMIc 

TrtbCm 

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TrsfNY 

TudcOr 

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Tysons 




1 5% 

5% 

5% 

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4% 

6% 

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42 5% 

514 

5ft 

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11 3% 

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3% 

1 


.10 

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14 0% 

7ft 

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A0 

L5 

31627% 

36ft 

27 


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134737% 

37 

37 


\A0 

37 

330 

30 

30 

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7 53k 5*6 53k 
11 W % 3k + V6 
4 540519*6 19% 19% + ft 


JO 3J 
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110*6 93k lMfc 
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7373* 22(6 22% — Vk 
1534 3* 34 

942 6*6 Mk 434— % 
791136 11% 1136— M 
2614% 15*4 153k— % 
1014% 16% 14% 

129 9% 9*4 9%— % 
431036 W6 1016—16 
4415% 143k 1436—% 
2911% 11% 113k + (6 
125% 24*k 2S% + 


IISUCs 

USP Rl 
UST 
UTL 
UltrBcp 

UHTSV jm 
LMO fnn 
Unlbcp 
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Unm 
Untfres 
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UnNotto 1J2 <0 

unPlntr lost 44 10025% H* 25% + (6 

ITnTrBC 440 14 25*70 4* 70 + % 

unworn 2401136 11(6 11%— (6 

UACRIS M 2 2941816 U IMS + (6 

UBAnl 40 24 79M*k 24* 34% 

UBAUk .15r U 19 WVl 9% 1016 + 14 

UBk5F TJ 4 TPx 234—1% 

UBWsti 8317 14% 14*6 + *6 

UnBkra JOs 1.9 571034 10% 1036 

UBCol 19 41 4924(6 2* 2616 + M 

UCOrBC IB U a 30% 2036 2036—% 

UCaBsn 144 3% 1 3 — % 

UCryGs 1 JO 72 11719% 19 19(6— 36 

UnDom 2i IS 3213% 13(6 13(6 
UnEdS 11 416 4% 4(6— M 

UFflGro 1025 7(6 4% 7(6 + 9 

UFstPd 1991V36 10*6 19 — (6 

UGTdn L44TM.1 1511*6 1136 1136 

UMoBn UOb 20 2 35(6 35(6 3SV6 + 36 

UnNMx 23*14 a 18*4 W 1BV6 + (6 

U Freed 34412 1136 12 + % 

US Ant 17 336 2*6 7. 

USSCS UO 15 320 am 20U 28% — % 
US Cos 16 3% » 3*6 

US Dion 434 3 236 23k — 

US EOT 22 436 4(6 4% 

USHCs 45035*4 25(6 35*6 + % 

USHltl 243 10% 10 10% 

USPrco 13 2% 2 2(6 

USSblt .IBs SJ 09 4(6 4% 4(6 
ussur BOe Ll UTl (9V. 18(6 11%—% 
USTrfc I JO 94 41 12% 12% 126 + % 

USTrs 19 15 25434(6 04 MU. 

usfotn 20 2 saa*k 21 xm + 

VTmict J ns M* S 

UnTetev 1062T* 22(6 22(6 

UnTote 11 73k 736 73k— (6 

UVOBS L64 34 31040(6 M 40(6 + % 
UtrwFm WH 20*6 2036—% 

UnvHIt 253718% 17*6 10% + 36 

UnvHM 1 a 5(6 5% 5%— 36 

UF5BX 3912(6 1136 1216 +36 

UpRstd U 89 5(6 5 5% + % 

UPenP 200 94 2323* 20% a (6 + 16 

UroeCr 334 436 4% 4% 

BeU 91 » 46 A 


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V Band 
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VLSI 
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Voltint 

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15 9H 9*6 9(6 
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12801134 11 11*4 + 36 

270 5% S 5 — % 
1471 0% 734 736— % 

2014% 14(6 14(6—36 
17 Ma V 29 +1 

191211% 1736 10% + % 

10 20329% 39% 39% 

3J 57 23% 27*6 27*6 + (6 
3J 519(6 18*6 18*6 
U 1523(6 21*6 2316 + *6 

11 24 12*6 12% 123k + (6 

7 93k 936 W6— % 
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1170 4% 3*4 3% + (6 

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9225* a 25% + % 


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194 2% 2*k 2%— % 

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Witt Hertz and Pan Am Unit Help United Compete? 

Cost Cuts and New Jets, Not Acquisitions, May Be Needed Against American 


By Agis Salpukas 

New York Times Sorter , 

NEW YORK —United Airiines 
dazzled the airline world with its 
agreement last month to acquire 
the Pacific division of Pan Ameri- 
can World Airways. Hardly was 
the ink dry on that accord before it 
announced an ambitious restruc- 
turing of its penson fond assets 
that win provide nearly $1 billion 
to finance corporate expansion. 

Then, after finally fighting 
through a costly pilots' strike, it 
announced this week the purchase 
of RCA Corp.'s Hertz rental-car 
unit, a company that many saw as a 

natural extension of United's travel 
business. 

To many outsiders, those moves 
seemed to represent the imagina- 
tive expansion of a company that is 
already the country’s biggest air- 
line. Kit to some m the business, 
the moves suggest that the compa- 
ny might be placing the wrong bet, 
putting it in Han yr of being over- 
taken by Ame rican Airlines. 

While United has been engaged 
in its expansion moves, American 
has been buying up new aircraft 
and consolidating its position as a 
domestic airline. 

The concerns about American 
are not without merit. Even Rich- 
ard J. Ferris, the diairman, presi- 


dent and chief executive of UAL 
Inc., United’s parent, has acknowl- 
edged the importance of a solid and 
expanding domestic system. 

What troubles some analysts is 
that United has lagged in buying 
new aircraft and in winning conces- 
sions From its unions. Compensa- 
tion accounts for about 30 percent 
of the airline’s costs. And there has 
been shar p competition to reduce 
operating costs to offer lower fares 
and win more traffic. 

Mr. Ferris expressed such con- 
cerns in a meeting with airline ana- 
lysts last November. 

The pilots agreed to a new con- 
tract last week, but it gave Mr. 
Ferns only part of what he had 
sought: a two-tier pay scale system 
under which new pilots will start at 
much lower salaries bm eventually 
catch up to the pay of senior pilots. 

inctAsd of announcing a major 
aircraft acquisition, Mr/Fems an- 
nounced the purchase of Hertz, the 
world’s biggest car-rental compa- 
ny, for $587 million from RCA 
Carp. The move has left some ana- 
lysis puzzled since the transaction 
diverted some of United’s cash 
from expanding the airline. 

What the airline needs now. ac- 
cording to most airline experts, is a 
Large purchase of smaller, inore- 
efEoeni planes, such as the Me- 


Regional R anks Gain Notice 


(Continued from Page 13) 

Baltimore Bancorp, Fust Mary- 
land Bancorp, First Railroad A 
Banking Ql, First Security Corp^ 
Manufacturers National Corp., 
Maryland National and Southeast 

Ranking 


Mr. Hale said Europeans were 
“very receptive’* to the idea of buy- 
ing stock in UJS. regional banks 
(there are 14,000 of them) because 
they do not exist as such in Europe. 

“It’s an investment play they 
can’t find in their own backyard, 5 ’ 


he noted. “Mention a money-cen- 
ter bank and Europeans wiD often 
say they can buy a big bank located 
in their own country.” 

Niliy Sikorsky, a director of 
Capital International in Geneva, 
also made that point. “Generally 
speaking, investors only go to for- 
eign markets when they can’t find 
the type of stock they want to in- 
vest in on their own exchange.” she 
said. “That prompted Europeans, 
for example, to go to Wall Street in 
the early 1980s for high-technology 
stocks they couldn’t find at home.” 


Donnell Douglas Super 80 or the 
Boeing 737. 

But even if Mr. Ferris put in (he 
order now, it would take nine 
months to produce the planes, giv- 
ing American a further edge, said 
John V. Pin ravage, the airline ana- 
lyst for Paine Webber. 

American has had about a two- 
year jump in building a low-cosi 
carrier through its system with new 
planes that need two cockpit crew 
members instead of three. Also, 
many of its pilots are earning half 
the salary of pilots lured before the 
new contract negotiated in 1983. 

United has not been inactive in 
acquiring more planes. Mr. Ferris 
noted that the airline had bought 
25 Boeing 737 aircraft for $265 mil- 
lion from Frontier Airlines this 
year. 

He also said that by September 
the airline would make a decision 
on a major aircraft purchase. It 
must then decide whether to accept 
the delivery of 20 Boeing 767 air- 
craft or substitute other planes 
such as the smaller 737. 

If the agreement with Pan Amer- 
ican World Airways to buy its Pa- 
cific routes is approved by the De- 
partment of Transportation and 
President Ronald Reagan, United 
would acquire another 11 Boeing 
747s, 6 Lockheed L-]01!s and a 
McDonnefl Douglas DC-10, Mr. 
Ferris said. “1 would say that’s be- 
ing fairly aggressive," he said. 

AlthoughMr. Ferris said be was 
excited about the Hertz acquisi- 
tion, some analysts questioned its 
benefits. 

“I don’t see where the big advan- 
tage is," Mr. Pincavage said. He 
said that any new marketing or 
discount plan that United put in 
with Hertz would be matched by 
American and its cooperation with 
Avis or other car-rental companies. 

Meanwhile, American has gotten 
a considerable jump on United in 
the cost-cutting battle. In 1983, 
American was able to gain the two- 
tier wage system from its pilots, 
machinists and flight attendants. 


Also under the American contracts, 
new employees never catch up with 
the rates of the older workers. 

Under United's contracts with 
its 16,000 machinists and 9.000 
flight attendants, the new workers 
at the lower level reach parity with 
existing workers in five yean. 

In the case of the 5 .200- member 
pilots* union, at the end of five 
years both sides can uy to negoti- 
ate a new agreement Undo - the 
new contract, new employees are 
still expected to reach parity when 
they become captains, which nor- 
mally takes 18 to 20 years. 

Thus United will still have higher 
labor costs than American. 

Also, because American won its 
concessions in 1983, it has hired 
many new employees at the lower 
rates. As of May, the carrier bad 
one-sixth of its pilots, one-quarter 
of its flight attendants and a quar- 
ter of its machinists at the lower 
pay rates. 

Peru Averts Drop 
In Credit Rating 

Return 

LIMA — U.S. bank regulators 
have decided that Pent’s credit rat- 
ing should be maintained as "sub- 
standard" rather than lowered to 
the category of "value-impaired." 
according to the economy minister, 
Guillermo Garrido Lecra. 

A towering of the rating would 
have forced U.S. banks to write off 
some of the debt owed by Peru. Mr. 
Garrido Lccca said Tuesday at a 
press conference that regulators 
had concluded that Peru was trying 
to meet interest payments on its 
debL Peru’s rating will be reviewed 
again in September, he said. 

Peru owes S4 30 million in arrears 
on its foreign debt of S13.5 billion, 
Mr. Garrido Lfccn said. Pent owes 
about $40 million to $45 million in 
interest payments per month to for- 
eign commercial banks, but paid 
only $15 million last month, ac- 
cording to foreign bankers. 


EDUCATION 


from 


BY __ 
Govarrvoert 


Unwrante. For 


In tormeri Ai i Educrtiond Consu%Mx, 
FO Bop 7092. NksBOb Cypno. 


SUMMBt DAT CAMP. Engfafc hk<*. 

mg diektn 5-J2, Monday thn/mdof 
daring July: Suwnnina tportj, arts, 
draapL French. BtP (roup. American 
School of Paris, <1 me Padcw 92210 
St. Ooud. T* 602-54-41 


SERVICES 


***** 

younb elegant lady pa 

ZURICH 830.58.88. 


** PARIS 553 62 62 ** 

GDC A KAL VXP. YOUNG LADY 
Dishngwiied, Bagrat, MufcinpnL 


AMSTERDAM 182197 

TtUSTHJL LADY COMPAMQN 
Owning, edwca Kd. tnweL 


VH> YOUNG LADY GUBDE 
Educrtad, ratroefc* end tnfcwol 
far derys, mud & frmrf 

WUSS 530 02 84 


PANS NOTE THB PHONE AT ONCE 

757 62 48. Trustful VIP. lady, trend 


INTERNATIONAL CLASSIFIED 


(Continued From Back Page) 


SERVICES 


YOUNG ELEGANT LADY 
PA. PARIS 525 81 01 


*_PAWS 527 01 93 * 

YOUNG tAOY TRUNGUAL viP-PA 


PARIS: 520 97 95 

USTMQUISHED YOUNG LADY PA 


PAHS VH> SOMST1CATH) YOUNG 
lady companion. Why don’t you 
phone Z77-01-69 for yax days, eve- 
nings & weekends? An elegart birv 
gtada. irai far your 


SWITZERLAND. Young elegcw Indy 

ona wuisiL nee tar tram. Ter 
061/43 82 36. 


■naNATIONAL B6AUTWJL fexfc 
UNLTD. USA & WORLDWW. M 
212-7657793 / 7657794 


SOCSTE DIANE RABI5 260 87 43, 
Men & woman glides, security & rent- 
ing cor Servian. 8 am - 12 pal. 


LONDON, ELEGANT muBteducrted 
Frenrf) lady eomparaon. wefl traveled 
& verso*. Tefcjpl 0364 pij. 


Hie Daily 
Source for 
International 
Investors. 



SERVICES 

HtANKFURT. Young lady compravon. f 
EngMi, French, Germotspoken. Free _ 
toW 069/44 77 75. 

747 59 5B TOURST GARDE. Pros, 
airports. Young elegant, attractive^ 
Ueeneiy. 7 an / 12 pm. Inti novel 

LSNOON SOMShCATED Gertm/ 
French lady conunn Midtitnaud 
& ertertoewH TeL 01-381 6852. 

5MGAKNE*/n. GUD& Cot Ste 
gopore 734 9628. 

RB4CH RIVIERA, torpreter Travel 
componon |93) 61 7B 63 

PARS YOUNG LADY 341 21 71 J 
VP PA & bfagud rterpreter. . • 

HONG KONG (IfrSl 723 12 37. 
Oranerag - ehgraS PA. 

HOT4G KONGlW72A7 VIP fa^ 
(Oriental/^eopeon) cornparioa ' 

TOKYO IAOY COMPAMQN. PA 
Personal Awstart 0345fr553P 

TOKYO COMPANION 586 4674: 
TeL «ter for the best. 

LOTOON EDUCATED LADY Carry 
panion/Gwds. let 961 0154. 

TOKYO 64S 2741. Tounng 6 shop- 
peg guides, nter prefers, ete. 

YOUNG SOPHtSTI CATS) LADY faro 
London VIP lemon. 01-630 0757. 

LObPON-YOUNG BUSH LADY PA. 
01-345 4002 days, eveninen & troveL 

TOKYO 475 54 80 Young Lody Cxw^ 
panion. 

HONG KONG 5-7954B23 Europeat 

young lody amptmoa 

vanF****) 


LONDON LADY OQMPAM^^f 
occanor*. Please teL (Oil 821 0M3 

PARIS YOUNG SOPHOTCATH) VIP 
lody. trifcwd PA. 256 05 95. 

RtANKRAn, MCE 6 attractive PA 
front B aim. TeL 0&9/293947 

7SANHWT YOUNG LADY cantev 
. ion 8. Travel Gude. 00/62 84 BL I 


SERVICES 


lody, V.IP- - PA - mmporvon. 


SERVICES 


PASS BILINGUAL ASSISTANT to 
buvrvrn neaihve*. 500 58 17 


HONG KONG. Owtnn western 

lody far cranporaow- Tat 3682483. 


ATHENS. Lady craoonan and penon- 
d e aib irae. TeL 0086194. 


HEAP OFFICE 

Pofe (For dasstfted only): 
747-46430. 

EUROPE 


Pfaco Your Ck»ffied Ad Quickly and Easily 

in Hie 

INTERNATIONAL HOA1D TRIBUNE 

By Phone: Cal your loed IHT npraenatm with your text You 
wrH be k d u rmorf of the cost immecCotdy. and anas prepayment is 
made your ad vnB appear within 48 horn. 

Cent: The basic rrte it $980 per faie per day + loaal knes. There ere 
25 leiira^ ngns and spaoes m Hie first ine ad 36 *i the Mowing Sues. 
Minimum space i* 2bne&. No abbreviations actepted. 

Crecft Cards: American Express, Diner's Qub. Euroocrd, Master 
Ccrd. Access and Visa. 

LATIN AMERICA 

Bueno* Anns: 41 40 31 

Pept.312) 

Genoa*: 33 14 54 
Guaya«i3:514505 
lima: 417 852 
Ptorara 69-05 11 
Son Jum: 23-1055 
l2W6 - 15 - Si lage : 61 555 

Athene 361-8397/360-2431. Son fW* 852 7893 

: 343-1899. 

: 01} 32944a 
: J069) 72-67-55. 

: 29(58-94. 

: 67-27-93/66-2544. 
r (Dl) 8364802. 

1 455-3891/455-3306. 

Mism; p2) 7531445. 
fs p3] 845545. 

: 679-3437. 

I pq 7569229. 

Tel Avrr 03455 559. 

Vienna: Contact Frankfurt, 

UNITH3 STATES 

New Yoric p 12) 752-3890. 

West Coaeh (415) 362-8339. 


MIDDLE EAST 


1246303. 
Kuwait: 5614485. 

id 341 457/8/9. 
fi416535. 

Saudi Arabia: 

Jeddefc 667-1500. 
UAij Dubai 224161. 

FAR EAST 


_ : 390-0657. 

Hang Keng: 5-213671. 
Mmfa 817 07 49. 

Seoul: 735 87 73. 

Singapore: 222-2725. 
Taiwan: 752 44 25/9. 

Tokyo: 504-1925. 

AUSTRALIA 
MeBmeme; 690 8233. 

f. 929 56 39. 957 43 20. 
19831 


INehft ngl nn , Q u era n l ira d b 

369 34 51 


ESCORTS & GUIDES 


INTERNATIONAL 

ESCORT 

SEBVICE 

USA & WORLDWIDE 

Head office in New York 
330 W. Seth St, N.Y.C 10019 USA 

212-765-7896 

212-765-7754 

MAJOB om CUB AND 
^ OCCKS ACCBTH) 

Prfvrte Membership* AvtAable 



* USA & TRANSWORLD 

A-AMBUCAN 

pernor saVKE. 
EVBYWtSE YOU ARE OR GOi_ 

1-81 3-92 1 -7946 

Co6 free from USL- 180D-237-0892 
Cel free from Rondo: 1-8BW824J892. 
Lowefl E mm w el com es you badl 


CAPRICE 

ESGORT SERVICE 

W NEW YORK 

TR: 212-737 3291. 


LONDON 

BOGRAVIA 
Tab 736 58 77. 


lOtOCH 

Pbrtmoi Escort Agency 

£7 CUMrn $%eot 
, Under. WT 
Tel: 4U 2724 or 486 1158 
AB ardor eefi ueife. nzratol 


. Sayr y* -- QretB* Suj±w*-Flrft Boston LtxL 
Lsnoon 


AM5TBDAM JEANET Escort Service 

TeL j02B 326420 cr 3401 11 


AWSTH PAMTWBITr-roia&oort 

Service ■■ 


STOCKHOIM ESCORT AND OtlOE 

Serviee. TeL 68 34 £8. 


ESCORTS & GUIDES 


LONDON 
KENSINGTON 

ESCORT SBVKE 
0 KBdNGTQN CHURCH i,, ,. 

TH: 9379136 OB 9379123 


★ LONDON * 

EXECUTIVE ESCORT SESVUX 
01-329 2300 or 01-229 4794 


LONDON 

DAY/EVMNG ESCORT AG04CY 

TH: 724 2972 


ARISTOCAT5 

London Escort Serv i ce 
128 Wignore St, London W.l. 
AS mrdor CrofiCrads Accepted 
TeL 437 47 <1 / 4742 
12 noon 


London Tops 

t&ATHROW / LONDON 

Escort Service. Tdb 01-381 1950 


SHADOWS 

MADRID ESCORT SERVICE 

CREDIT CARDS. TH: 2509603 


LA VENTURA 

IEW VOBC ESCORT SBtVKE 
212-888-1666 


MAYFAIR CLUB 

GUIDE S atVKZ from 5— 
ROTTBSXAM (0) 1 0-S4155 
THE HAGUE (6} 70-60 79 96 


MADRID 1NFL 

ESCORT SBtnCE 
THi 2456548. CBBNT CUDS 


tamONia» ESCORT Service. 
Tet 01 8849. 


ESCORTS & GUIDES 


ZURICH 

CAROUNE ESCORT SBmCE. 

Tet 01/252 61 74 

ZURICH 

Sranaiefta's bat 6 Guide Service 
Tel: 01/57 75 96 

NEW YORK 

MAtE ESCORT SERVICE 
212-243-63^ (MC/V1SA) 

1 

ZURICH 

AISUS ESCORT ssnna 

IB.- 01/47 55 82 

JASMINE 

AMS1BBMM ESCORT SBEVICE. 
TH: 020-366615 

ZURICH-GENEVA 

GMGETS ESCORT SBVKE 

IBs 01/362 OB 64 -022/ 24 41 86 

* GOCVA-FttST* 

DAILY BCORT SERVICE 

Tefc 022/32 34 18 ' 

+ WffiDDI TRAVH 

ROME CLUB EUROPE ESCORT 
& Grade ServIceJel: 06/5B9 2604- 589 
114& (from 4 pm to 10 pm) 

GENEVA ESCORT 

5RVKE Feb 46 11 58 

GB«VA * BEAUTY* 

BCORT SBVKE. 022/29 51 30 

HIDE PARK ESCORT SBVKE 
lOfOON/tCATHROW/GATWKX 
Tefa 01 890 0373 

CHBSEA BCORT SBVICE 

51 Beaudmp Piece, Landan SW3. 
TeL 01 584 6513/2749 (4-12 pm] 

GENEVA - BEST 

ESCORT SBVKE. 022 / 86 15 95 1 


ESCORTS & GUIDES 


nAMCMT. + SUnOUNOMGSl 
Corobne's Escort + Trove Server. 
EngW\, French, Spanish & Genwsn 1 
spoken. Please con West Germany. 
35/435763 


AMSTERDAM BARBARA 

ESCORT SHVKI. 020-954344 


** MADRD GIPSY ** 

SERVICE. Tell 23X03.19 


( ■ W MB OSMflBCT. 
Tel: 37 52 39 


HUUBA SOMEBRR ESCORT SenracJ 
London 402 4000/402 *008/402 02821 


FRANKFURT AREA. tSABBiTS fe- 

male and mde binguol ban and 
Trove! Service. Pleene tolcphcne: “ 
69-62 88 05. 


GENEVA - HBENE ESCORT SBCVIGE 
Tel: 36 29 32 


[NANA ESCORT SERVKZ London / 

Heart* cr* / Gatwick. Smg 01-381- 
0608. 


LAUSANNE - MONTEHJX Ufa 

Escort Servo. MuHtoguai 9 euit to 9 

pm. Teli 21/37 93 28 


DUSSHDOfiF - COLOGNE - ZUSIOI 

Exdusve Emri + Travel Service. 
TeL 0211-6799863. 


DUS5ELDOBF - COLOGNE - BONN 
+ area ha's Escort & travel ser- 
vice. AO crerit cords. 0211-395066 


AMSTEMUUi I 

Hague. R o tt e rdam. 

Service. Amatrdrai|DQ31< 

U3MKSN ESCORT 
let TO 5339. 


AGENCY. 


LONDON E5CDRT ffltVKL Tel 937 

6574. 


VENNA OEOPATKA Escort SennCe. 

Td 52 73 88 or 47 70 35. 


HENNA ETOK£ ESCORT SERVICE. 

Tel:567B55. 


MADED IMPACT w»rt ond guide 

— ifaWnguoL 261 4142 


VBMA - 0BKS ESCORT Swvn. 
TeL 5238355 


LONDON GAMBIA ESCORT Sar- 
TeL 01-229 6541. 


Heoihrow/Gotwicfc. Tab 834 79(5. 


Tel: 212^81-1948. 


TeL 283397 


LONDON GENE ESCORT Sen** 
Tel- 370 7151 


He Howe - Holord 07P-601B23 


T* 01-930 3041. 


lONDON EMMAMBIE Enter Ser- 
Vtoe. TeL 01-730 1840 


ESCORTS & GUIDES 


Madrid shections escort s«- 
wen TeL 4011507, Credtr Catfa. 
NUNK« - BLONDY X TANIA Escort 

Serwra. TeL 311 79 00 or 311 79 36 


VBMA, UP I ESCORT SBTVKE Tel: 

f/iennol 65 41 58 


LO0RX3N LUCY ESCORT & Gude 
Service. Tel: 01-373 0211 


MUNKHSUPRSK ESCORT Service. 
Tot 089/4486038 


MEWKT Escort Agency. Tel London 


02S5BD ORF Cologne BcmvAocherv. 
ltf dost escort serwica. 0211/221754. 


VBMA YOUNG ESCORT SERVICE 
Contact! 83 33 71 


COtOGTC/ DUESSaJDORF/ BONN 
Engl* Escort Service 0221-534757* 


HAMBURG ESCORT + GUIDE Ser- 

vice. TeL 040/54 17 42. 




BRUSSELS. ANTWERP NATASOM 
Eteort Service. TeL 02/731 7641 . 


COPB4MGB4 TOP CLASS bean 
Service. 1 - 12 pm. Tri: 01-22-20-19. 


BOW 5-r- 

oe. TeL 01 229 0776. 


5* r ' 

ate TeL 02/520 23 61 , 

I6NWWM mCOME Enn Sendee. 
TeL 91 84 59 


JVBWV-CABGBSEtoraiSravirt. 




BSUSSaS MOBIE ESCORT rad 

gude service. TeL 733 07 98 


COMMA. .AM5TBQ2AM ESCORT 

■ Grade Swvn. TaL 10201 762B42 ■ 


RANKRBD - ANNE'S Escort Service. 
TeL «9/ 2881-03. 


WAMOURf JWNY E5CORT & travel 
TeL 069/5572-10. 


WNDON ESCORT Ser- 
ba TeL 994 6682 . 


CONDON. French escort _ 
lltteft-lOpm. TaL P11 589 4900. 


VENNA CD — ESCORT SBVKE: 
Vienna 92 05 612 ■ 


BIANKRWT POLAND ESCORT Ser- 

^e. TeL 069/63 41 S9. 


RANWW 70 F ibt bean Sar- 
"a. 069/596852. - 




AM5ISB5AM FOUt ROSES fecort 
Service jOj 70-964376 OW 


Pff5aPOW(GOtoigg/BONN7 

■DomeioEscgl Swvn 0211 / 383141 


HCANKFUBT -f SURROUWMS E+ 

-oertServnOW^ag^ADC 


- PRIVATE ESCORT 
Grade Service. M 91 B14 




















































‘ v~- Jiiii-- 


'Page 18 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


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TO 111 112 |I3 


PEANUTS 


YES.5K..I WANT/W 
MONEY SACK. THIS 15 
THE WORST SUMMER CAMP 
I'VE EVER BEEN TO! „ 


IF TOU POnV 0VE ME 
Ml MONEY BACK, I'M 
G0IN6 TO SUE' 


ALL IT POES 15 KAlKi 
IT'S TOO WET TO ENJOY 
AltfTHlNfi'B/EN ^ ATTORNEY' 
THINKS IT'S TOO WET„ 


I b-23 fiilHVMf 


BOOKS 


SECRECY AND DEMOCRACY: 
The CIA in Transition 


script to the censor*. Snepp was sued by the . 
agencv and forced 10 forfdl all monies received 
from his book. ** Decent Interval. 


By Starafield Turner, 304 pages. S 16.95. 
Houghton Mifflin, 2 Park Street, Boston, 
Mass. 02I0S. 


Reviewed by James Bam ford 


BLONDIE 


H IGH OVER the NorthAtlamic the mach- 
meter on the forward bulkhead registered 


W vao WONT STOP 
BfTINS HIS NAILS f 


Ba 1 DID THAT * 
VtHEN 1 WAS A 
—t WD.TDO V- 


mv Doctor even told, 

ME IF I DON’T ^TOP IP 
grow uPToee r- > 

an (nor Jk 


SO WHY ^ 

5 didnt you i 

a 7 STOP 9 ZJ 


ACROSS 


1 City NE of 
Boston 

6 Saroyan hero 

10 Craft for Finn 

14 Old World 
lizard 

15 Convex 
moldings 

16 Type or grape 

17 Cow's first 
stomach 

18 Hines or 
Holliman 

19 Mideasiem 
bread 

20 Rubbish 

22 Alter 

24 Fluemtoa 
fault 

26 Droops 

27 Rat 

31 Record in 
symbols 

35 Vats 

36 Work with 
dough 

38 Dutch cheese 

39 First 

40 Near, to a poet 

41 Conclusion 

42 Blister 

44 Argentina's 

Rio 

45 Small dog, for 
short 

46 Leave high and 
dry 

48 Obedient 
follower 


56 Lannyor 
Diana 

52 Slippery 

53 Catch up to 

57 Kind of jacket 
or jack 

61 Italian coins 

62 Bath powder 

64 Nose feature 

65 Farmer's 
abode 

66" Good 

Day," Peggy 
Lee hit 

67-Twelfth 
Night” lady 

68 Some sheep 

69 Far from 
frowzy 

70 Ruhr city 


DOWN 

1 Chalcedony 

2 Malarial 
symptom 

3 Essayist: 1775- 
1834 

4 Leaves a 
colliery 

5 Type of hemp 

6 Spenserian hag 

7 Wander 

8 High-warp 
tapestry 

9 Symbols of a 
rich land 

10 Swift, sharp 
answer 


11 Tel 

12 Gala 
celebration 

13 Former ruler 
21 Symbolsof 

smoothness 
23 Self 
25 Sesame 

27 Wild guesses 

28 Comforter 

29 Beneath 

30 Count, 

1928 Derby 
winner 

32 Revoke a 
legacy 

33 Japanese 
poem 

34 German port 
37 Coincide ■ 
43 Oil containers 
45 DiUer 

47 Negative word 
49 Stick or split 
51 Ray 

53 One kind of 
shoppe 

54 Opinion 

55 A Gardner 

56 Name for a 
lioness 

58 Landlocked 
country 

59 Heraldic 
bearing 

60 Breakof a 
habit 

63 Anchor tackle 


BEETLE BAILEY 


HU WAMTTD 
60TPA 
MOVIE WITH 
ME? PAWCE? f 
BOWUHG? . 


SET 

LOST 




WANT TO &ET 
LOST WITH ME? 


,tor 


ANDY CAPP 








’Sffjsx vasr? 


KNCT YHOW SHgl 

TsMa^MSSiTSMwr^i 


LI meter on the forward bulkhead registered 
nearly twice the speed of sound. Four hours 
earlier Admiral Siansfidd Turner, commander 
of the North Atlantic Treaty Organization's 
southern flank, had received a “secure** tele- 
phone cal] in his Naples headquarters from the 
secretary of defense: “The president,” said the 
secretary, “would like to see you in Washing- 
ton tomorrow.” Now, cushioned in a brawn 
leather seat on the Concorde, Turner could feel 
his adrenalin begin to race with the Mach 
□umbers as he pondered his future and the 
meaning of the suddeQ «U- 

A Rhodes scholar out of Annapolis, protege 
of Elmo ZumwalL the progressive Navy chief, 
and four stars on each shoulder by his 52d 
birthday, he was one of the U. S. Navy's best 
and brightest On top of that Jimmy Carter, 
the new president, had been a classmate at the 
Naval Academy at Annapolis. There were few 
places for the ambitious young admiral to go 
besides the chief of naval operations or chair- 
man of the joint chiefs of staff, or so he hoped. 
But a few minutes before noon on Feb. 3. 1977, 
Admiral Turner’s optimism decelerated like 
the Concorde approaching Dulles Airport 
“Stan, I'm considering you for director of Cen- 
tral Intelligence,” the president told him. A few 
hours Later he called his wife u> give her the 
disappointing news: “Dariing, we’re going to 
the bush leagues.” 

“Secrecy and Democracy" mi gh t have been 
subtitled “The Education of a CIA Director.” 
It is a sonmsingly candid account of Admiral 
Turner’s four reluctant years at the top of the 
expanding U. S. intelligence bureaucracy. That 
it is not even more candid is not the fault of the 
Conner director. Like the hunter who stumbles 
into his own bear trap. Tinner complains bit- 
terly about the way be was treated by the CIA 
prepublication censors, who shredded more 
than 100 passages of his manuscripL As he 


from his book. “Decent Interval” 

“I fully support the requirement for such 
review” Turner writes. “What I object to is the 
wav the present administration conducts its 
reviews." Chief among Ms complaints was the 
“extreme arbitrariness" of the review. “The 
deletions ranged from borderline issues to the 
ridiculous," In the latter category was an ro- 
parent requirement to delete the name of the 
British foreign intelligence organization, MI-6, 
even though this has been openly acknowl- 
edged for many decades on both sides of the 
Atlantic. 

In smite of the CIA’s literary butchers. Ad- 
miral Turner succeeds in producing an impor- 
tant book on a dark subject. He paints & 


tarn book on a dark subject. He paints & , 
frightening picture of an agency almost beypod 
his control as a result of an entrenched, para- 
noiac old-boy-network. The three major opera*; . ■ 
tionai branches functioned as independent 
fiefdoms, jealously guarding their borders 
from any outside interference — including that - 

from the director. 

On Ocl 31, 1977. open warfare broke out 
between Tinner and his agency when di&niad.- i 
notices were sent out to a number of agency 
employees as a result of post-Vietnam wfir r’- J ' 
personnel reductions. Taking the brunt of this 
losses on what became known as “The Hallow- 
een Massacre” was the branch responsible far 
human espionage collection (known as DDQ, 
for Deputy Director of Operations}. According 
to Turner' only 17 people from the espionage 
branch were actually fired and 147 were forced 
into early retirement Through normal attrition 
over the next two years, however, the branch - 
would be reduced by S20 positions. . V - 

Despite the facts. Turner says the pres; add 
public were deliberately misled by current and 
former agency employees into believing thkthc 
was actually’ firing '820 people. “What was ’ -V 
really behind the outcries.” writes Tupter, j( 
“was outrage at my challenging the traditional . ' 
independence of the espionage branch. IT T ." I 




WIZARD of ID 


Solution to Previous Puzzle 


.Veir York Timex, edited by Eugene Maleaka. 

DENNIS THE MENACE 



Ttte mA f eup-sap. 

MtCH&AH MTIN^FE 


rnr 

Mm? 




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tcm&tifc 

WHILE 

t wm $ 


REX MORGAN 


m 






oenna □□□□ naan 
nnnno nmnQ onaa 
□EGonsniaaaaaaGa 
□eb □ □□□ naaaa 
HaaQBaaaaa 
□Eanaa □□□□ 
□Dana nano ams 
DEnBaHaanEaaana 
□bed □□□□ aaosa 

□□□□ HOBLlLja 

□□nnaaaana 
□EHoa □□□ aaaa 
BEnnaaaaaaaaaaa 
ebbb anna anans 
obbb □□□□ □□□□□ 


It was also a battle between the old covert 
action diehards, many of whom were in retire- _ 
menu and modem technical collection —and 
Turner was on the side of the technospy. 
“Their empire.” Turner writes of the covert- . . 
action spooks, “which was surrounded by * 
moat of secrecy, had been invaded by an out-. . .. 
sider who they believed would never under' - 
stand or appreciate it and therefore could not . 
properly change its wavs.” 

Turner concludes with an “agenda for ac- 
tion" which includes a radical, and progressive, . 
proposal for the creation of a new organization >• 
to make generally available the findings of 6- 
U. S. reconnaissance satellites. He also sug- 
gests the creation of a director of National 
Intelligence, separate from, but with authority 
over, uve CIA and all the other resources, nt 
proposes strengthening the DCrs authority 
over the National Security Agency which. 
Turner says, often withholds information from 
the rest of the intelligence community to give it 
directly to the president or the National Securi- 
ty Council. 


✓ 1 ACCORDING TO THIS ^ 

MEDICAL HISTORY FORM THAT YOU FILLED I 
OUT, IT WOULD APPEAR YOU'VE ENJOYED 4 
EXCELLENT HEALTH. MRS. BISHOP/ WHV HAS 
YOUR HUSBAND BEEN SO CONCERNED ABOUT 

you? _ riinmi^ s^ 


r I SUSPECT HE WOULD LIKE ME TO QUIT A 
MY JOB/ IT DOES REQUIRE A LOT OF m 
TRAVELING— BUT I'M NOT THE TYPE PERSON 
WHO WOULD BE HAPPY SITTING AT HOME, 
HAVING LUNCH WITH THE GIRLS AND ATTENDING, 
STYLE SHOWS / m Mi — — «◄ 


James Bamford, author of “ The Puzzle Pal- 
ace. "on the National Security Agency, wrote this 
6 / 20 /ss review for The Washington Post 


BRIDGE 


frankly, , 

I DON'T A 
KNOW. DR. 
MORGAN L 


ffVjgLEY 

EQsSS&J 


r WELL. 1 
LET'S l 
CHECK J 
► YOU A 
I OVER ' 


By Alan Truscotr 


O N the diagramed deal the 
winners had to struggle in 




'fat Qq} SAYS HIS AV0TDR& RUNNIN' BUT HIS CLUTCH IS 
SUPPlM 1 ( WHATEVER T^T MEANS 


GARFIELD 


THAT SCRAMBLED WORD GAME 
s by Henri Arnold and Bob Lee 


OBSEWE, BEATING THE HEAT 
_ IS 5IMPLV A MATTER J 
n OF MINP OVER BODV 


I'M COLD. 

m cotg 

TM COLP 


UNFORTUNATELV, 
MV BODV HAS A 
MIND OF IT5 OWN 


winners had to struggle in 
a borderline game when West 
picked the best opening lead. 
Most of the North players 
raised no-trump immediately, 
but a raise to two no-trump 
would have been artificial so 


East persevered with spades, 
and South then led a bean to 
the king. On winning with the 
ace, East shifted to a diamond 
and South played low. 

West took the queen and ex- 


The result was not a South 
triumph, however. At most -ta- 
bles the declarer made 10 
tricks because hearts were not 
bid and West led that suiL 


ited with a spade, apparently 
leaving South with just eight 


South had to employ S layman. 
South continued boldly to 


Unscramble itwse lour Jumbles, 
one letter lo eocn square, to form 
tour ordinary words. 


RIVOY 


WM 


RARBI 


wm 


llisiil 




kfflw FAVV& 





South continued boldly to 
game and was faced by a spade 
lead: Her heart bid had dis- 
couraged West from leading 
that suit, and he thought, right- 
ly as it turned out, that a dia- 
mond lead might give away a 
trick. 

The spade ace captured the 
queen, and South tried the dub 
ace. This collected die king 
and led to dummy’s nine, sur- 
rendering a trick to the jack.' 


leaving South with just eight 
tricks. But she had the Iasi 
word, for West was trying to 
protect both red suits. When 
dummy’s dub winners were 
cashed West had to keep J-10 
of hearts and K-9 of diamonds. 
A heart to the queen and an- 
other heart lead produced the 
endplav, fordng West to lead 
from the diamond king at the 
finish. West could have made 
matters more difficult by bar- 
ing his diamond king noncha- 
lantly, but South would no 
doubt have solved the prob- 
lem. 


WEST 
*654 
? J 10864 
« KQ 96 

*K 


NORTH 
*K 83 
?K73 
O J 103 
«QJ 095 

in n?r 

*n»i 

SOUTH (D) 

* A j 
OQ 952 
O A 74 

♦ A 8 7 4 


Earn and Wot wen vnfai enfate. 
Ite 

*■*•» Wait North East 

1 N.T. Pass 2 * Pass 

2? Pan 2 N.T. pus 

3 N.T. Pw Pan Pus 


THINEW 


COTESK 


THE FIREMAN 
IS vJUST 

ABOUT THE ONLY 
CIVIL SERVANT 
YOU'C? PREFER TO 
SEE THIS WAY. 


West led the spade six. 


Wirld Stock Markets 


Now arrange l he circled loners to 
form Ihe surprise answer, os sug- 
gested by the above cartoon. 


Via Agence France-Presse June 19 

Casing prim in local currencies unless otherwise indicated. 


Print answer here: 


^Answers tomorrow) 

Jumbtos: OZONE TABOO GRIMLY RADIUM 


I Answer They were participants In a shotgun 
wedding— THE BRIDE & ,, GLOOM" 

WEATHER 


EUROPE 

HIGH 

LOW 


ASIA 

HICH 

LOW 



C 

F 

C 

F 








Muonre 

73 

73 

17 

S3 

fr 

Bareottok 

30 


2a 

70 


AreHrrtfam 

17 

43 

M 

s: 

r 

BeilMe 

Hoop Kmo 

24 


23 



Altiwa 

33 

86 

:i 

TO 

tr 






Barcetono 

a 

77 

17 

A3 

O 

Manila 

21 

88 

74 

75 


■■lm ode 

to 

66 

7 

45 

d 

Hew MU 

A4 





Benin 

TO 

66 

7 

« 

cl 

Seoul 

29 

64 

14 

57 


■rotaeti 

17 

S3 

17 

54 

0 

Stenwial 

. 24 


21 



•wcnoreBS 

hi 

68 

IS 

54 

cl 

Si OOP pore 

31 


a 



Budapest 

19 

M 

10 

SB 

cf 

Ttepel 

28 

82 

24 

75 


CfiRBepboumi 

14 

57 

e 

43 


Tckyj 





sh 




19 



AFRICA 





DobUn 

IS 

59 

B 

44 







Edloboroti 

Florence 

Frankfort 

Gamrra 

13 

• « 

n 

14 

59 

75 

70 

57 

4 

14 

9 

11 

39 

57 

48 

52 

cl 

0 

a 

r 

A taler* 

Cairo 

Capa Town 
Caxatrianeo 

31 

35 

tr 

24 

88 

9* 

« 

7S 

19 

73 

9 

It 

66 

72 

48 

64 

fr 

fr 

tr 

d 


ABN 

ACF HaMtaQ 
A Man 
AKZO 
Ana to 
AMEV 

A 'Dam RuBber 
Amro Bank 
SVG 

Bue hr monn T 
Catena Hlflo 
Ehurvlar-MDU 
Fakkor 
t»»« BrocoOn 
Halnaken 
Hoooavats 
HUM 
Noaroan 
Mol N odder 
Nmaltovd 
Oca vendor G 
Fakhaea 
PWIIAB 
RaOoca 
BoOamco 
Bollnca 
Rorenta 
Raval Dutch 
i Unllrwar 
Von Ommeran 
VMF Stark 
VNU 


GHH 

Haroaner 

HocMM 

Hoeatst 

Haasch 

Harien 

HusmI 

IWKA 

Kali + Salz 

iCarstodJ 

Kaultief 
Ktoeduwr H-0 
Kkreckner Werke 
KruoF StoM 
Undo 
Lutttiaasa 
MAN 

Mannesmann 
Moench Rueck 
NlxOort 
PKI 

Poncne 

Praussoo 

PWA 

RWE 

Rhelrimefall 

Sehartna 

SEL 

Stamana 

Thvsson 

Veto 

Votkswoeanvrerk 

Wo I la 


Drtatontoin 
£ tenets 
GFSA 
H a n no ny 
, HtvMdStaai 
Kloof 
NeOfconk 
Pre» Stovn 
Riraolat 
SA Brows 
St Helena 


Claw Pm 

sms 4V7S 
17B5 1740 
J*5C 33I» 
Z75* Z700 
44S 445 

SI 25 BES 
U60 U40 

S22S ST IS 
157S 15*5 
B3S B2S 
372S 37C0 
Ot W0 


Sabtsburr 
5«on Hotelnss 
Shan 
5TC 

SMChortersd 
Sue AJItanca 
Tata ono Lv(a 
Tasco 
Thom EMI 
TJ.trouo 
T rofotoor Hse 
THF 

Ultramar 
Unllevar e n 1 
UnttaO Biscuits 
Vlckor* 

Wootnortti 


Cold Staraoo 
DBS 

Fraser Naova 
How Par 


140 NA 
AM SIS 
US SIS 
130 1T9 


Full Photo 
Fujitsu 
Hitachi 
HtiocW Cable 


June IS I 


ww Low Clan CStoa 


Gmat&n stocks via AP 


F.T.MMa; rem 


F.T^E-iao \atex : USUt 


Mol BonJctno 

OCHC 

OUB 

oue 

ShaoorWa 

Shn* Darby 
5‘Pore Land 
5'Por» Press 

S Steamship 
SI Trodtrrj 
United Ovense 
UOB 


13S NA 

s^o s55 

. 9 9JJ5 
111 114 

NA 145 
220 120 
MS 153 
2 S 144 
£55 555 
TPS IAS 
<M 4J2 
150 153 


Japan Atr Lines 

KaUma 

Kama I Power 
Kawasaki Steal 


Straits Tlowa tad I 
Pravloaa : 7tt52 


West HofOtns USO S8EJ 

Cooipestta Stock lodes ; NA 
Previous: 1T2U0 


aa Coro nsvk 

AIIJed-L yens 209 

Anglo Am Gold S9IHb 

AO Bril Foods 750 

Ass Dairies 150 

Barclays 3B2 


Banco Comm 
Cantrote 
Oaahatels 
Cred FWI 
ErWonfa 

Farm Hall a 

Flat 

f insider 
General I 
IFt 


73000 23170 
3557 3540 
ND0Q TQ0Q0 
2345 2342 
T0140 10200 
13S5D 14250 
3450 3555 

5t3o 50600 
4455 *300 


AGA 

Alfa Laval 


340 345 

W4 185 


Comma nbaok index : ' 
PravWas : 134050 


275 279 


ANP.CBS Central lades : Zld.Ii 
i Pravioifs : »j| 


T7 289 
17* 1S4 


LosPatmai 

Usboti 


17 43 cl 

i> n a 

14 41 It 

15 54 cl 


— — — — no 

SB D 25 77 a 

34 93 17 43 Sh 


345 345' 

214 214 


LATIN AMERICA 

Bhmi Aim 12 it 1 


BaenaiAlrat 12 54 11 53 a 

Caracas 27 SI 21 70 r 

Urea 2D 48 17 43 a 

Maxtor atv 23 73 14 57 d 

Rtoda Janeiro 27 II 20 40 cl 


Arbeq 
Bekoert 
Cocker! II 


Rerkiavlk i: 54 J 48 cl 

Kama 3a 79 la 55 a 

StadUMhn 31 ro 13 55 d 

H raOw n = « o 4* a 

Venice li to is 59 a 

view 21 70 in so H 

Wnrm w It N 9 48 cl 

Zurich N M 7 45 a 

MIDDLE EAST 

Ankara 2* 79 4 44 ci 

Betrat — — — — no 

DamascBi JO 54 14 41 fr 

Jensohrm 29 ta 23 73 tr 

Td Art* » B4 30 <• h- 

OCEANIA 

AuOleM 14 57 8 48 tr 

Sydney 15 04 B 44 I r 

c)<lm>dy. ro-forov; lr-falr. b-boll. 
sh- showers, sw-snaw; d-denw. 


NORTH AMERICA 


Denver 
Detroit 
Hanot Ida 
Hob 1 too 
Lm Anoelei 
Miami 
MlmMUPeUs 
MMdiaal 
Nanaw 
Mew York 
San Francises 
Seattle 


Waste oetan 
o-ovorcoaf . aci 


15 99 ■ 

31 85 30 
25 77 14 
3* 75 10 

nun 

21 70 9 

31 88 23 

30 « 22 
27 81 18 

31 91 24 

22 72 9 

24 75 14 

32 00 S 
27 41 17 

20 41 14 

25 77 15 

21 70 13 
30 84 10 

inly daudv. 


EBES 

GBL 

Gevoert 

Hoboken 

Intercom 

Kradtettxmk 

Petrottao 

SocCanenole 

Scflrw 

Salvor 

Trod ion Elec 

UCB 

UIWTU 

Vleilio Mantaone 



Currant stock ladax : 223331 
Provtous ; 2SM5 


RiBlrtiirt 


THUnSbAYf FOUeCAST — CHAMNEL: Smooth. FRANKFURT: Cloudy with 
rains. Tame 30 - 0 148 —481. LONDON: CMydV. Temp. H — 12 (81—541. 
MADRID'. Portw cloudy. Tamp. 3t — 17 (ft — e31. HEW YORK: Partly cloudy. 
Temp. 16 — 17 (79 - e3>. PARIS : Forttv Cloudy. Temp. 17 — 13 163 — 551. BOMB : 
Stormy. Temp. 33— IJ (77 - 551. TEL AVIV: Partly ctoudv. Temp. 38—20 
104 — Jl. ZURICH; Ctoudv «llh rolns. Temp. 18 — 8 144 — 461. BANSKOX: 
Stormy, temo 31 — 34(81 — m HONG KONG: aeudv. Tenin. a — 24 (82 — 751. 
MANILA: Rainy Temp 31 — 34 IBB — ,$1 SEOUL: Foaav. Temp. 30 — 19 
184 — 46' SINGAPORE: Stormv Temp *—27 ( 84 — 811. TOKYO: Rainy. 
Teme *T— 14 n — el* 


AEG-Tetefurtkcn 
Allhnu Vers 
Altana 
BASF 

Borer 

Bov Hypo Bank 
Bov Vereinshank 
BBC 

SHF-Banh 

BMW 

Comma rzhonk 
Coni Guraml 
D*imier-Beni 

Down id 

Deutsche Bobcack 
Deutsche Bonk 
Orovtner Bank 


13AS 13L7D 
147S 1400 
348 34459 
22X30 32250 
23 ! SO 231 JO 
34650 » 

3SL50 173 

Z34J0 238 

324 32950; 
436J0 42X50 
2815B 304J0 

837 B28J0 
354 US 
I50.ni 150 1 
54250 55550 I 
33030 ^930 I 


Bk East Asia 
Cheung Kano 
aHroLWrt 
Green island 
nano Seng Bank 
Henaerson 
China Gas 
hk Electric 
HK Realty A 
HK Hotels 
hk Land 
hk Shane Bank 
HK Telephone 
HK YoumeM 
HK Wharf 
Hutch wnampoa 
Hyson 
imarv 
Jardlne 
JardlndSae 
Kowloon Motor 

Miramar tfaM 
Now World 
Orient Qy ar eaaa 

shk props 

Slain* 

Swire Pacific A 
Tot Cheuna 
trahKem 
wnaetock A 
Wlnu on Co 
Winsor 
I Wtorio inri 


2170 2220 
1160 1480 
15J0 l MO 
8 7A5 

4625 42J0 
2 187 

lam ?30 
7JS 78B 
1040 9AD 
3425 34 

150 520 
745 730 

99 88 

U40 155 

5.90 525 

24 23 

154 0-53 
0*1 OTS 
11.16 1O50 
1120 1020 
8J0 8 

3420 3U0 
685 635 
115 110 

I1J0 10 JO 
145 125 

a suo 

131 128 

(30 132 

7 JO 725 
189 1JS 
*20 *M 
180 129 


MS 1S8 

m va 


535 530 

154 154 


223 223 

544 543 


143 143 

441 443 


BICC 213 215 

BL 40 39 

Blue Circle 523 523 

BOC Group 294 2M 

Boo4s 197 197 

Bowoter Indus 275 277 

BP 536 52S 

Brtt Hama St 297 289 

Brit Telecom m IS4 

Brtt Aerospace 345 345 

Brltall 214 214 

BTR 3S 135 

Burmch 261 262 

Co«e Wireless 535 530 

Cajftur-y Sdrw 156 156 

Charier Cons IBS is* 

Commercial U 223 223 

Cons Gold 544 SO 

Courlaulds 143 143 

Ootwrtr 441 Ml 

De Bears* S55 543 

Distillers 300 JOE 

Drfcrftxrtete *24 *254* 

F toons 348 350 

FreeStGed S27to *2 s*. 

GEC 174 172 

Gen Accident 63fl 630 

GKN 229 531 

Gtaxoc 12 25/3212 29,^32 

GrttadMat 291 2H 

GRE 736 730 

Guinness 256 544 

GUS B30 B30 

Hanson 191 174 

HOWker 437 447 

ICI 743 739 

Imperial Graua 191 1*5 

Jaouar 2S3 Its 

Lana SecurH bo 275 377 

Leopl General 742 734 


Itatoos 

Italmobaiori 

MetOaoonca 

AAontedteon 

Olivetti 

Pirelli 

RAS 

RtaaKeme 

SIP 

SME 

Snto 

Standa 

Stel 


1495 1504 
90500 90000 
115500115500 
1912 1871 


2680 2610 
74900 73490 
990 90050 
3489 2385 
1501 1520 

3070 2984 
18130 11980 
3420 3373 


Electrolux 

Ericsson 

EJaeH* 

Hondel sbonfcefl 

Plormado 

SoatHSconJo 

SateOwik 

Skansko 

SKF 

SwwllshMatch 

Volvo 


400 395 

101 101 1 

180 180 
247 247 


KamcsoU Stool 

Kirin Brewery 
Komatsu 
Kubota 
Kyocera 
Matsu Elec Indt 
Matsu Elec Works 
Mitsubishi Bank 
Mitsubishi Chem 
Wtsutibhl Elec 
Mitsubishi Heavy 
Mitsubishi Carp 
Mitsui end Co 
Mttswkashl 
Mitsumi 
NEC 

MGK insulators 
NRdcoSac 
Nippon Koooku 
Nippon Oil 
Nippon S*et4 
Nippon Yuaen 
Nissan 
Nomura Sec 
Olympus 


BC Res 
BC Phone 


150 149 

177 180 

RQ. 395 
375 370 

85 SL5B 
208 203 

185 IBS 
210 212 


Prevtad* : 342JB 


Air Llqulde 
a Whom AH. 
AvDaestwtl 

Bcncalre 
DIC , 
Benpraln 


291 290 

736 730 

Si 366 


BSN-GD 

CaiYetour 

Cncroaurs 

Club Mad 

Dwty 

Oumez 

EltJWultalne 

Europe I 

Gen Bwj 

Hoehatte 

Lcrfarue Cop 


191 194 

437 447 

743 739 

191 185 

m 2to 


Hone son ladax : 151 (US 
Previous : K27JIS 


AECI 810 800 

Anglo American 2925 1925 

Ando Am Gold 17400 17100 

Bbrtow* 1215 1220 

Blvvopr 1330 ISIS 

Brito'S 7873 7600 

DeBoers 1060 KM 


LteytaBonfc 

Lonrtto 

Lucas 

Marks and Sp 
M etal Box 
Midland Bank 
Not Wen Bank 
Parana 
Pilklngtan 
Pleseav 
Pmaantlal 
Itacui Elect 
Rons Ian rein 
Rank 
Road Inti 
Reuters 
Royal Dutch r 
RTZ 
Soo'chi 


59* 5*2 

32S 337 

138 134 

*55 458 

384 372 

467 664 

i i 

s§ a 

184 182 

S104>4 SPSVj 
3*0 340 

614 632 

339 142 

43to m 
579 577f 

770 7W 1 


Merlin 
Michel te 
Meet Hennesiv 
Moulinex 
OeddanWa 
Pvracd Rlc 


Petralas (tsa) 

Paoucei 

Prln temps 

Rodlotechn 

Redout# 

Roussel Uclot 

EoneR 

safe Rosslwxd 
Tele m e c an 
Thomsen CSF 


645 657 

313 312J0 
137S 1370 

449 442 

540 549 

1934 1939 
no an 

2525 2510 

3205 2170 
620 585 

518 520 

1445 1418 

660 670 

20950 710 

833 8451 

492 477 1 

1845 1865 
553 553 

2211 2221 
Ttt 72B 
2541 5S61 
1723 17X 
M45 1843 
3110 2060 
10*0 Mil 
1945 I960 
87 A0 87 JO 
ns 730 
748 761 

550 533 

250 JO 24SJ0 

£2 Si. 

27« 277 

315 316J0 
1490 142D 
1585 1600 

.?« 70S 

USO 1540 
2450 2540 
523 53* 


ACI 
ANZ 
8HP 
Boro I 

Bausalnvtlle 
C— Bemelne 

Cotas 

cnmatco 

CRA 

CSR 

Dunleo 

Elders ixl 

ICI Australia 

Mom 1 lan 
MIM 


Nat Aust Bank 
News Carp 
N Broken HIM 
Para loon 
Old Cool mat 

5antas 

Thomas Nation 
Western Mining 
westeac Banklno 
woodsMa 


150 146 
*M 42S 
LM 6J56 
125 122 

1M 2 
5J0 SJ2 
348 348 

MS IJS 
5.92 548 

220 225 

118 2.16 
295 253 
IJ1 !J5 
2J0 2J0 

288 271 

2 1.97 

4.TB 4.15 
7.16 7.10 
2jt5 22* 
160 137 

1J9 156 

556 558 

L92 1.90 

XB7 170 
4 4 

1J4 US 


Shlmazu 

ShJnetsu Chemical 
Sony 

Sumitomo Bank 
Sumitomo Chem 
Sumitomo atartne 
Sumitomo Metal 
low Carp 
ToJsho Marine 
Tafceda Chem 
TDK 
Teiim 

Tokyo Elec Power 
Tokyo Marine 
Teppan Frtnttna 
Toray Did 
Toshiba 
Toyota 
YomakJd Sec 


Mkkal/D J. Index : 12773J7 
Previ ou s ; 1274UT 
Newtadax : 1BHJS 
Prevtoos : Mil JT 


ZM 


Alueubw 

Autaphon 

Bank LPU 
Brown Bouerl 
CH» GalOV 
Credit briSM 
Ewanmsn 

Gaerp Ftocner 


AO Orrilaorlas ladax 45150 
Prevtasa : SaOJI 


Aoefl index : 314.17 
Pray leas : 2HJI 
CAC Index : 22X39 
Previous : 22350 


Xfcni 

Asrfil Chem 

Asdii Glass 

Bank Of Tokyo 

Bridaestene 

Canon 

Casio 

Cltoh 

Dal Nippon Print 
Da two House 
Dobra Securities 
Faroe 

Full Bank 


398 394 

I 1 

541 551 I 

1130 1130 
1590 1400 
144 444 

1100 1120 
678 6JT 
938 93* 

7450 7570 
1440 1600 


Interdloeount 
Jacob Suchard 
Jehnoli 
Landis Gvr 
Moavemrick 
Neat# 

OerHkon-B 
Roche Baby 
Sandoz 
Sddndfar 
Su bar 
SBC 

Strvellkmee 

SwUaoir 

Swln Reinsurance 
Swiss Vo Iksaonk 
Union Bank 
Winterthur 
Zurich ms 


1830 1O0 
4473 4425 
4138 ATS 
.cm 15S3 


1380 1395 
4358 4325 


415 

4BBS J970 
1255 1230 
1898 1B0 
1415 1480 
4810 3995 
SOB 5050 
2150 2145 


SBC Index : 44488 
Previous : *400 


NO- no* mated: NA: 1 
available: *a: e>^l«ldcn<|. 


Hltb LowOuseCbue 
5 Acktands S14'A16 )6Ur+ to 

I M7S AonlcoE . 914VS 16’*i I6K1+ V5 

,JsooAtrra ma A ssh au ff*y+ to 

103S All Energy S19to I8to 19 — to 

noo Alta Nat S15to I5to 15to— to 

404 AlBoma St S22fe 22to 22W+ K 

. MO AndtaW Af S25* 25to 25v5- to 

^^Arucen jjBto 18 18to 

17900 AlCQ I I S940 9V4 993+ «, 

«BPO«dn S3ZVH Tito 32W + to 

21771 Bank DC SSto 5V3 Sto+ V% 

SUV. 13to 14 + to 

l« 138 140 +1 

SITto 17to 1724 + VS 
395 385 3B5 —5 

465 460 445 +5 
S19VS 19to 19to + to 

*9 ito Bto 

347 242 342 

SKto 239k 24 + VX 

«2to T» 12=6 + to 
S31 31 J1 

Slito 16VJ 14to 
su*. Mto uia- to 

815 14to 15 
J2Sto 23 25to 
JSV 3 22 22W— Ml 

S37*i 37to 37to— to 
S12to 12W 12to 

1S274CI BkCom *35=6 Sto+i* 

SlOto 10*k into + to 

SMW 14W 14tol to 

88 734 B f ta 

S13to 13 to I3to + to 
Wto Bto 9 + to 
8?. 6to 6to+ to 

Kto tvs 6W+ to 

yoto lOto loto 
2W 2?1 298 +3 

SIM 13 I3to+ to 

VXhs 20 20to+ to 

184 W4 186+" 
3100 Denison A p Sl2to I2to 

iioOOevelcan S7 a 90 7 + 

I615D DEcfcnsn A f 6v5 AH 

?30 221 271 —4 

S»to 25V. 25 — V. 

SW4 IB 1B'4 + ^ 
17* 

S19V* 183i 19 
Wto 23to 234k — to 

«3W 23to 23to— to 

Sf* IB* 13*1+ to 

3900 Geec Comp 59^ ^ 3 9= P i + ^ 
2» 280 2S0 +1 

873* 7W 7 to— Vk 
«4 7to+ % 

^ 40 40 + to 

ro 70 70 

gl 21 21 + to 

f3«4 2434 24to 

is,. 145 145 

8WJ 2091 70m 
SS*k 1034 IQW + to 

*2% nib 21 to 
SS 19to 20 + to 
827 26to 24 to + to 
15VS I5V5— to 

20to 20Mi 

§ t ril 

19to 28 +to 
8J4to l«to 14Vj 
*40 40 40 

14 I«to + 'a 

W4to 24to 2fito— to 
C£k »to 28to+ *4 
s rt. in. i23k + n 

11 ir* + to 
Sol r «: 61's+l’i 
-TO'. TO 20 — 

371 20’v- 1 


■ 2100 MtCC ■ 
16914 Melon HX 
[16774 Morland E 

^7874 Molson Af^ 

I 200 Moison Blj 

Ixooo Murphy I 

p5400 Nabisco y 
4*918 NoranrfoB 
[96197 N green ■ 
■■HHva AHA t\ 
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INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 


Page 19 


SPORTS 



Unruly Blend of Baseball and Beer 


By Craig Wolff 

times Sanee 


flew York 

NEW YORK — One night recently at Yankee Stadium: 

• A beer vendor did not want to climb tbe steps to where a fan sal in an 
upper row of (be upper darfc So the fan earne down and punched him in 
the nose. 

a At 5dd level, along third base, a 13 r year-old boy s natch e d a bag 
filled with S126 worth of Yankee trinkets. 

• Near the left-field corner, a concession worker at a hot dog stand 
scrapped with a teen-ager who climbed atop the coontCT and reached into 
the cash drawer. 

• And in right field, anot her vendor was punched by another fan who 
argued that he'had not had too modi to drink. 



Ha Nmr York fans 

A beer vendor working a night game at Yankee Statium. 


Itwas a night without a clear sky and without a breeze to create the 
summery feding that baseball games often have, and most everyone 
focused on the field and the tease game. The Yankees traded late, 1-0, to 
Toronto. Their failed threats every other inning kept rocking the crowd, 
and tbe spectators’ disposition shifted accordingly. First they cheered 
and then they groaned, and when what looked like a lasi-dilch opportune- - 
ty in the eighth fdl apart, a group stood up and chanted an obscenity at 
the umpire. 

In a grand way, the Yankees tied it. Down to their final out. Dale Berra 
hit a home run to force extra innings, and the crowd loved h. But some 
did not notice. As Berra circled the bases, eight young men smoked 
marijuana in a bade row, a man vomited in an aisle and security guards 
chased two youths who had been throwing beer. Extra innings had not yet 
begun. 

Concerned that dwwairijym? hooliganism and violence at ballparks 
around the country are chasing away customers, baseball is taking steps 
against nights ana days like that one. Major league officials believe the 
main ranja* of the problem is the hn^e consumption of beer in the park or 
before the customers have even arrived. 

□ 

Many teams, including the Yankees, the New York Mets and the 
Chicago White Sax, have cut off the beer vending after the seventh 
inning; it’s still available at concession glands but it isn’t hawked in the 
aisles. A few (the Los Angeles Dodgers, the California Angels and tbe 
Detroit Tigers) sdl it only at (he concession stations, period, some te am s 
offer a choice of low-alcohol beer. 

In an interview, Commissioner Peter V. Ueberroth said that all teams 
□ext season will have to follow the example of the Chicago Cubs. Texas 
Rangers, Minnes ota Twins, Atlanta Braves, Pittsburgh Pirates and the 
Dodgers: Set aside “family only” sections — in effect, nondrinldng areas. 

“Baseball shares the concern,” said Ueberroth. “And maybe it's more 
important for baseball than the other sports because the ambience of the 
stadium in baseball is more important. Much erf our success is birilt on the 
family. We have to promote and develop family.** 

No single organization has taken stronger measures to curb the 
problem than the Detroit Tigers. Pressed by the ugly celebration that 
followed their World Series victory last October, a celebration in which 
automobiles were set afire and one man died, the Tigers became the only 
dub to sefl only low-alcohol beer. When regulars in the bleachers began ' 
organizing and chanting obscenities, the Tigers dosed the bleachers fra a 
week last month. And smee they reopened them, they have been checking 
the ankles and pockets of nearly everyone entering tbe bleachers, confis- 
cating any concealed liquor containers they find. 

The Yankees and Mets have also been confiscating containers. The 
Yankees have a hol ding room fra all the objects they rake away. For the 
Mets. the whole process proved embarrassing one Saturday afternoon 
this month — Picnic Jug Day. They gave out thermoses adorned with tbe 
Met logo to everyone 1 6 and over and then announced that the fans were 
not permitted to bring the jugs back to Shea S tadium 

‘Things have gotten worse,” said Bob Mandt, vice president in charge 
of operations for the Mets. “Friday nights and Sunday doublebeaders 
have always been bad, but the tone nas changed. It’s a little more vulgar, 
and there's more marijuana. Our security force now does pot patrols.” 

“Ninety-nine percent of all the problems we have,” said Lien tenant 



The riotous scene outside Tiger Starfimn after Detroit’s World Series victory last fall: Cars were set afire and one man died. 


Robert Becker, who directs theNew YorkGty police detail that operates 
around Shea, “can be traced to alcohol.” 

But cutting off the flow of beer at the stadiums would not provide a 
complete solution. “A big problem," says Becker, “is that when people 
get here ihcy’re already half-tanked. How are you going to solve that? 
People leave work, stop for a few martinis, then come here and add a few 
beers to that. It’s not just the guys in T-shirts. It's the guys with the ties 
on." 

The link of unruliness to alcohol is not acomfortable one for the people 
who run baseball to accept or even acknowledge. Yankee officials, who 
requested anonymity, said sales average a little less than a beer per fan. 
Bared on their current attendance figures, the Yankees should draw dose 
to two million customers in 1985, and the Mets about 25 minion At 
Yankee Stadium, a 12-ounce cup goes for $2, a 16-ounce beer fra S225 
and a 20-ounce for 5250. So it could be reasonably estimated that the 
Yankees will bring in about 54 million just in beer sales. 

Tbe Mets charge anywhere from 51.85 to 53.25, so it is passible that 
they will bring in more than 55 million. On an average night at either 
park, beer revenues can be anywhere from 550,000 and up. What bar in 
New 

fans then get into their cars and drive 

In addition, beer companies spent $327.6 million on advertising during 
network sports programming in 1 984. According to a source with knowl- 
edge of baseball's relationship with the beer industry, about 10 percent of 
that total represents advertising during baseball telecasts. Thai does not 


Include all the money brought in from beer advertising on cable, local 
television and radio contracts. 

Detroit's bleacher problems began last year when two sections of fans 
adopted tbe “Taste Great — Less Filling" slogans from the television ads 
and changed them to obscenities. 

Scores of retired baseball players and even George Steinbrenner. the 
principal Yankee owner, have appeared in beer commercials (active 
players are not permitted to appear). 

It seems that baseball, for economic reasons, could not possibly ban 
the sale of beer from its stadiums, but an organization called Project 
SMART (Stop Marketing Alcohol on Radio and Television) is pressing 
Congress for legislation that would ban beer advertising on TV. Timmons 
& Co., a Washington lobbying firm, represents baseball. Its other clients 
include Anheuser-Busch and ABC Television. A Timmons representative 
has indicated a readiness to work against such legislation. 

□ 

During the 10th inning at Yankee Stadium the other night, six queues, 
each about six deep, waited at the concession stand behind home plate. A 
check of one tine found that one patron was waiting for a third beer. Two 
were waiting fra beer number four. Three others had drank more than six. 

When asked, the young woman behind the counter, said. TU give them 
as many as they want." 

“One of the pleasures of coming to the stadium is drinking," said Mike 
Cisco, a 26-year-old musician from Brooklyn. “Baseball is drinking beer 
and eating not dogs." 


Cubs Drop 7th Straight — and Take On Gooden Next 


SCOREBOARD 


Conpiled by Our Staff From Dispatches 

NEW YORK — Hie Chicago 
Cubs have lost seven straight 
games, and the immediate pros- 
of ending the skid aren’t 
hL 


fra this to continue,” said light 
Adder Keith Moreland after Tues- 
day night’s 5-! loss to the New 

BASEBALL ROUNDUP " 

York Mets extended the Cubs’ 
longest losing streak since they 
; dropped 13 in a row in 1982. 

:: A tall order faced Chicago 
- Wednesday as it tried to halt the. 

slide that has knocked h out of first 
.... place in the National League East: 
The Cubs would face New Yorit*s 
Dwight Gooden, one of the Na- 
tional League's premier pitchers. 

“Gooden's not unbeatable,” 
Moreland said. “If you get in a 
- slump like this, you have to forget 
4 . each loss and go at each game with 
a positive attitude. If hol, ’you’ll 
never get going.” 

Gary Carter drove m two runs, 
including one with a single as New 
York scored twice with two out in 
■ the fifth inning. Mooide Wilson 
^ and Kelvin Chapman, the Nos. 1 
:* and 2 bitten in the Mel batting 
order, each scored twice; Wilson 
“ ^also had an RBL 

Winner Ed Lynch scattered eight 
hits, strode out three and walked 
one en route to his third complete 
game of the season and fourth life- 
time. 

Pirates 4, Expos 1: In Montreal, 
George Hendrick had two doubles 
and drove in tbe winning run as 


Pittsburgh downed the first-place 
Expos for the second straight night. 

Reds 6, Giants 1: In San Francis- 
co, Frank Pastore, making his sec- 
ond start of the season, gave up 
only four singl es in ending the Gi- 
ants’ three-game winning streak. 
Cincinna ti cashed in on two errors 
to score four unearned runs. 

Knaves 3, Astros 2: In Atlanta, 
Gleam Hubbard pul reliever Julio 
Solano's first pitch of the eighth 
inning over the left-field fence to 
give the Braves the decision. Atlan- 
ta left-hander Zane Smith pitched 
hitless ball fra 5% innings and al- 
lowed only two hits in his seven 
□stings of work. Reliever Brace 
Sutter got the victory, but only af- 
ter giving up a game-tying home 
run to Bill Doran in the eighth. 
Sutter has failed to hold leads in his 
last four appearances. 

Cardtank 6, PMfies 2: In Sl 
L ouis, Tran Lawless drove in three 
runs an two singles and Yince 
Coleman had three hits and stole 
two bases to pace the Cardinals' 
fifth straight triumph. John Tudor 
won his fourth straight game. Steve 
Carbon lost for the seventh time in 
eight decisions. 

Padres 4. Dodgns 0: In Los An- 
geles, Dave Drawcky, who held the 
Dodgers hitless through 4% in- 
nings, settled fra a three-hitter (all 
singles) and Tun Flannery drove in 
two runs to spark San Diego's vic- 
tory. 

Rgera 9, Red Sox 8: In the 
American League, in Detroit, 
Lance Parrish’s fifth career grand- 
slam homer capped a five-run sixth 
that rallied the Tigers and ended 


Boston's ax-game winning streak. 
With the Tigers trailing, 7-4, Lon 
Whitaker’s one-out double scored 
Tom Broakeos Iran first base and 
knocked out starter Bruce Kison. 
Alan TrammeB greeted Mike Truji- 
llo with an RBI single before Bruce 
Hurst came on to walk Kick Gib- 
son, leading the bases. Parrish — 
who was 1 (Mor- 18 lifetime against 
Hurst, including five home runs — 
connected on the first pitch. 

Brewers 4, Blue Jays 1: In Mil- 
waukee, Earnest Riles batted in 
two runs and Paul Molitor ho- 
mered to help the Brewers hand 
Toronto its sixth straight defeat 
The Blue Jays have lost 18 of their 
last 22 games in Milwaukee; dating 
back to 1982- 

Yankees 6, Orioles 4: In Balti- 
more, Ken Griffey Hoed a pair of 


run-scoring singles and Rickey 
Henderson had three hits and stole 
three bases to lead New York to its 
third straight victory. Henderson, 
who had five singles and a walk in 
Monday’s and walked in his 
last appearance rat Sunday, had Ms 
streak of reaching base 10 consecu- 
tive times halted in the axth . 

Angels 7, truEms 3: In Cleve- 
land, Reggie Jackson’s two-run' 
Homer and run-scoring single 
paced a 20-Mt attack that helped 
California down the Indians. Jack- 
son's 512th career home tun tied 
him with Ernie Banks and Eddie 
Mathews for 10th place on the all- 
time list and his 1 M2 lifetime RBIs 
moved him ahead of WIDie Stargdl 
and into 22d place. 

Rangers 8, Mariners & In Ar- 
lington, Texas, Pete O'Brien ignit- 


ed a six-run first with an RBI dou- 
ble and added a home run an 
inning later to help Texas end Seat- 
tle’s three-game winning streak. 
The Mariners' Bill Wilkinson, mak- 
ing Ms second major-league start, 
gave up five runs on three Mis and 
lasted only one third of an inning 
Four Seattle starters — Mike Mor- 
gan, Mite Moore, Mark Langston 
and Jim Beattie — are on the dis- 
abled list. 

White Sox A A’s3: In Chicago, 
Harold Baines led off the 13th by 
putting Keith Atherton’s 2-0 pitch 
into the upper dedc in right field to 
give the white Sox their victory. 

Royals 10, Twins 1: In Kansas 
City, Missouri, Frank White had 
three angles, drove in a run and 
scored twice in sparking Kansas 
City’s rouL (AP, UPI) 


Baseball 


Tuesday’s Major Leagne Line Scores 


SPORTS BRIEFS 

Flyer Aide Sator Will Coach Bangers 

NEW YORK (AP) — Ted Sator, an assistant coach who he! 
Philadelphia Flyers to the best record in the National Hockey 
during the 1984-85 regular season, was named head coach of tbe 
Jork Rangers on Wednesday. 

■ Sator, 34, replaces Herb Brooks, who was fired midway through the 
worst year in Ranger history. General Manager Craig Patrick handled the 
team the rest of the 26-44-10 season; Philadelphia geminated New York 
in the first round of the playoffs. 

Sator, who spent two seasons with the Flyers, had coached seven years 
in tbe Swedish leagues, where he won five championships. He was also an 
assistant coach fra the U.S. team in September’s Canada Cup series. 

U.S.-Australian Basketball Series Set 

SYDNEY (AP) — A Pacific 10 Conference aH-star squad will arrive in 
Australia next Tuesday to play a three-match series against tbe Austra- 
lian national basketball team, it was announced Wednesday. 

The Pac-10 team, which will include erne player from each member 
college, will play in Newcastle on Jane 27, in Brisbane an June 28 and in 
Melbourne on June 30. 

Australia will use the series to prepare fra its upcoming world champi- 
onship qualifying matches against New Zealand. 

„Union May Name Baseball Strike Dale 

NEW YORK (AP) — M^or League baseball players will set a strike 
date during the first 10 days of July unless there is substantial progress in 
negotiations, union chief Don Fehr said Tuesday after a 214-hour talk 
between the .two odes. 

The acting executive director of the Major Leagne Baseball Players 
Association said, “The owners have got to believe the players are serious. 
Afier 27 meetings [with management], we are working op to a strike 
date.” He added that no derision has been made whether to boycott the 
July 16 AH-Star Game at Minneapolis, but said it remains a possibility. 
“A lot of players are looking fra a symbol to wake up some people,” be 
said. “That’s a logical symroL ... " 

Lee MacFhaiL president of the owners’ player relations committee, 
said a breakthrough hinges on union acceptance of the owners’ financial 
. situation. He has said that baseball lost 542 million last year and projects 
Mosses of $155 nullioii by 1988. 

‘ Baseball’s collective bargaining agreement expired Dec. 31. The 
union’s executive board voted May 23 fra a strike; the action has been 
overwhelmingly supported by (he players. No date has been set fra 

renewal of the talks. 



NATIONAL LEAGUE 
dodnaatl MHDNM I l 

San Francisco Ml OH MO— 1 4 1 

Pastor* and Knlariv; l Dskcv. Williams 17). 
Garrelh (V) and Branlv. w— Pastor*. 24. L— 
Laskey. 1-1. 

Pittsburgh 111 MS MI-4 7 1 

Montreal IN M0 MO— 1 S I 

McWilliams ana Penal smith. Lucas <41 
artoNknsia.W— McWl Manus, 4-5. L — Smith, 7- 
3. -r 

Chicago 1MM0 M0-1 • 2 

NM York 2M B2T SB*— 4 7 0 

Trout Brassier (7) and Lake; Lynch and 
Carter. W— Lynch. 44. L— trout. 6-1 
Hannon M0 SOI 010-2 3 1 

Atlanta IN 000 Us— 3 7 • 

Mathis. Ross (71. Solano <■) and Ashbv; 
Smlffi. Sutter 19) and Owen. W— Sutter, 4-2 
L— Sofana 14 MR*— Houston. Doran (61. At- 
lanta. Murphy (It), Hubbard (21. 
Pkllado I p W o M0 011 001-2 « 2 

». tools >00 141 <*X— 4 H 0 

Carlton, Andersen (5). Rowley (7). Rucker 
Ml ad Diaz; Tudor. Lahti (9) and NtetaW— 
Tudor. 5-7. L — Carlton. 1-7. 

Saa Dfeao 010 201 000—4 It 0 

in Angelas ON DM MI-0 1 0 

Draveeky and Kennedy; Witcn. Diaz (61. 
Howell (9) ond Yeoaer. W— Draveeky. 64. L— 
welch. M. 


Hurst.2-6.Sv— Loan (4). HRs — Boston. Buck- 
ner (6). Ewans (B). Detroit, Grubb (1 L Parrish 


Major League Standings 

AMERICAN LEAGUE 
East Division 


AMERICAN LEAGUE 

140 020 fit— 4 11 ■ 
Detract 2M 115 Btat-9 17 1 

Kison. Trailllo (4). Hurst (Ah Clear (7) and 
Godman; Bair. Scherrer 12], Beienaucr (6h 
Umax (Hand Parrish. W—Beraneuer.2-3. L— 


110). 


W 

L 

Pd. 

GB 

New York 190 201 TOT— 6 13 o 

Toronto 

38 

23 

j603 

— 

Baltimore (MO 012 tlS-< 4 0 

Detroll 

34 

26 

.567 

2H 

Cowley. RlabeMI (6), Fisher If) and Has- 

Boston 

35 

27 

J65 

2V: 

wry; Davis. Snell l7j.TJVtarttnez 17*. Aaso 19) 

Baltimore 

33 

2B 


4 

and Dempsey. W— Cowley, 5-1 L— Davis. 4-3. 

New York 

31 

29 

sn 

513 

Sv— Fisher (7). HRs— Baltimore. Shelby (2). 

Milwaukee 

29 

31 

A83 

7V: 

Murray (TOI. 


20 

41 

J2S 

17 

CalHonda 281 202 BOO-7 2B B 


Worn Division 



Ctavetaad 2M on 010-3 11 • 

Chicago 

33 

26 

J99 

— 

Witt. Moore IB) and Boone; Heaton. Thome- 

California 

34 

28 

-548 

Is 

son 14). Clark (71 and Willard, w— wilt, 54. 

Kansas Cllv 

32 

30 

J16 

21* 

L— Heaton, 4-7. H R— California. Jackson (9). 

Oakland 

31 

31 

.50a 

3W 

Toronto OM 100 0tft_l 7 4 

Seattle 

28 

35 

.444 

7 

Milwaukee 060 ZD flex— 4 7 I 

Minnesota 

26 

34 

.433 

7V1 

LooL Lamp 15), Caudill (9) and WlUtt; Bur- 

Texas 

25 

39 

-397 

10 

rta and Moore. W— Burris. 4-4. L— LeaL 3-5. 

NATIONAL LEAGUE 


HR -Milwaukee. Molifor (61. 


East Division 



Mhmesoto BOO DOB IBB— 1 5 2 


W 

L 

pa. 

GB 

Kansas Oftr 011 131 13k— IB 12 1 , 

Montreal 

37 

27 

.578 

— 

Smithson, Eufemla 161, Wordle (71. Davis . 

SL Louis 

33 

36 

-574 

Vi 

(71 and Safas; Gublcza. Qubenborry (9) and 

Chicago 

34 

26 

-547 

1 

Sandberg. W— Gublcza *4. L— Smithson, 5-6. 

New York 

34 

Z7 

.557 

ito 

Seattle OBO BM «01— 5 R 3 

Philadelphia 

24 

37 

J93 

mu 

Texas 619 Ml DBx — 1 12 9 

Pittsburgh 

21 

39 

350 

14 

Wilkinson. Long (1), R. Thomas (2). Snyder 


West Division 



17) ond Kearnev; Tanana. Rozema (6) and 

San Diego 

37 

26 

JB7 

— 

Stauoht. W— Tanana 2-7. L— Wilkinson. 0-1 , 

Cincinnati 

32 

29 

J25 

4 

Sv — Rozema (4). HR— Texas. O'Brien (7). 1 

Houston 

32 

30 

-514 

49* 

Oakland BIB BM BM BM #—3 • 1 

Los Angeles 

31 

30 

.506 

5 

Often bo 101 61 1 MB 0BB 1—4 11 B . 

Atlanta 

27 

34 

-4X3 

9 

CodlralL Howell (9), Atherton 112) and : 

San Francisco 

25 

38 

J97 

12 

Heath; Termer. ABosta (6), Janies (9). Nelson 












3. HRe-Oofckmd. Baker II). Chlcaan. Baines 



Uh 


Transition 


Basketball 


BASEBALL 


National Basketball Association College Draft 


BIG THREE: The top selection in 
No. 2 Wayman Tisdale (Indiana), left, and 


|r’s draft, Patrick Ewing (New York), flanked by 
No. 3 Benoit Benjamin (Los Angeles Clippers). 



By Sam Goldaper 

New York Times Service 

NEW YORK — Tuesday’s Na- 
tional Basketball Association draft 
belonged to the big men. Seven 
centers, six of thou 7-footers (2.13 
meters), were among the first 17 
players taken. Four more centers 
were among the first eight selec- 
tions on the second round. 

The rush for big men began with 
Patrick Ewing, the three-time all- 
American from Georgetown and 
the prize of the draft. It took Com- 
missioner David Stem a little wore 
than one min nlfi to make o fficial 
what hari been inevitable since last 
month's lottery. 

“New York selects Patrick Ew- 
ing," be said. 

The 7-foot Ewing walked across 
Madison Square Garda’s Felt Fo- 
rum to the podium and greeted. the 
crowd of more than 3,000 with: 
“This feds great. 1 used to be a 
Phila delphia 76cr fan, mostly be- 
cause of Julius Ervrag, but Fm a 
Knick fan now." 

The Indiana Pacere, with the sec- 
ond choice, selected Wayman Tis- 
dale, the 6-foot-9 high-scoring 
power forward from Oklahoma. 
Three of the next four players tak- 
en were centers. The Los Angeles 
Clippers took 7-0 Benoit Benjamin 
of Creighton. After Seattle chose 
the forward Xavier McDaniel of 


Wichita State, Atlanta chose 7-0 
Jon Koncak of Southern Methodist 
and Sacramento picked 6-11 Joe 
Klrine of Arkansas. 

Chris Mnlhn, the Sl John's all- 
American, then became the first 


Idea Slate 
But the emphasis was cm centos. 
Denver, seeking a replacement for 
tbe retired Dan Issel, took 7-foot 
Blair Rasmussen of Oregon 
(No. 15). Dallas, winch has been 
searching fra a centra ever since the 
franchise was established in 1980, 
used two of its three first-round 
'choices for big mm — 7-0 Bill 
Wenningion of Sl John’s (No. 16) 
and 7-2 West German Uwe Blab of 
Indiana (No. 17). 


picks of the second round, and 
among them was Manute BoL, the 
7-foot-6 native of Sudan. Bed, who 
played at the University of Bridge- 
port and was considered a risk be- 
cause he is very thin and inexperi- 
enced, was taxen by Washington. 
Bol currenty is playing for the New 
England Gulls of toe United States 
Basketball League. 

Every team with the exception of 
New Jersey had a first-round 
choice. Tbe Nets used their two 
second-round choices to stock up 
on big men. They took 6-11 Yvon 
Joseph of Georgia Tech and 6-8 


Fernando Martin, a member of the 
Spanish Olympic team. 

The Cleveland Cavaliers, who 
were hoping for Mullin, created the 
first stir onhe draft when they used 
the ninth pick fra 6-9 Charles Oak- 
ley, who averaged 24J points and 
173 rebounds in leading Virginia 
Union to a 31-1 season. He was the 
Division II player of the year. 

Oakley, highly regarded by the 
pro scents, did not remain a Cava- 
lier very long. He was traded, along 
with Calvin Duncan, a Virginia 
Commonwealth guard, fra 6-IO 
Keith Lee of Memphis State, whom 
Chicago had drafted 11th overall, 
and mris Whatley, a guard, who 
averaged 5 points a game in limited 
duty. 

Alfredrick Hughes, the 6-5 Loy- 
ola of Chicago swingman who was 
the nation’s second-best scorer in 
Division 1 (26.4 points per game), 
went Ink ier than expected on the 
first round. San Antonio traded 6-7 
Gene Bant* to Chicago for 6-10 
forward Steve Johnson and one of 
the Bulls' four second-round 
choices in tbe draft The Spurs re- 
placed Banks by selecting Hughes 
with the No. 14 choice. Johnson, 
the Kansas City Kings’ lop 1981 
drake and traded to Bulls last year, 
is supposed to provide some much 
I bulk up front 


The to* four HtadloK teom-by4eam, lo 
Tuesday's National Baskattian A s s o ctatlou 
colls** draft with nontlior of Detection, name. 
BMfttoa and aIMt (lap 3D draft** * la bofcl- 
facel: 

ATLANTA; 5, Jo* Korean, c, Southern 
Mot h a ril rt ; 41. Lorenzo Charles. (. Nortti Caro- 
lina 81.; 59. sedrlc Tonov.n. Davton; 77,Arvl- 
flkn Sabanta, c Soviet Union. 

BOSTON; 2fi,Seai Vjltcsnl. 9 .Mlctll*aa si; 
7a Andre Battle. a. Layota. IIU 91 Cliff Web- 
ber, LLfoertv BaptW;Il& Albert Butts,!. La 
Salla. 

CHICAGO: 1L Kam Le&t Memphis 5t a' 29. 
Ken Johnson, f. Mlchlpan SL; 34. Aubrey Sher- 
rtx3.ii. Wichita SU 44, Adrian Branch. [[.Mary- 
land. 

Cleveland: 7, CbariasOcdctoy, fcviralB- 
lo Ualoa; 3a CaMn Duncan, a. Virginia com- 
m on w eot lti; 4S. John Williams, 1, Tukme; 55, 
Kerb Johnson. I Tuba. 

DALLAS: IrDettef ScbrarapC.[f-f, Wash loo- 
too; 14. BID Wenalngtoac. SL John's; 17, Un 
B(ab,c. ladkna; 40. Mark Aertta I. Oral Rob- 
erta 

DENVER: u. Blok- Rasmessen,c,Ore*an; 
4X Butty Stevens, a. lowa St.; ». Pete wil- 
liam. L Arizona; 112. Kenny Brawn, a Texas 
A8AIL 

DETROIT: UUM Dumon.g,Mclfeese3Lj 
41 Andre Gaocta L Northwestern; 64. Rich 
Johnson, f, Evansville; 97. Anthony wood, g. 
North Carolina SL 

GOLDEN STATE: 7. Chris Muhin, a. SL 
John's; <2. Bobby Lee Hurt. f. Alabama; m. 
Brad WrfahLc UCLA: 71. Luster Goodwin, o. 
Texas- El Pose. 

HOUSTON: 17. Steve Harris, a. To Isa; 54. 
Sam MHchelL t Mercer ; 57, Michael Payne. I, 
lowa; 88. Michael Brooks, a, Tennessee. 

Indiana; 2. wayman Tisdale. L Oklaho- 
ma; 26. Bill Martin, I, Georgetown; 27. 
Dwayne Mcdafaii L VI lianova; 41 Kennv Pat- 
terson, B. DePouL 

I— A. CUPPERS: 3, Benoit Beniamin, c. 
Cnlghfoa;S2,Anlcet Lavodrama.f. Houston 
Baatl st; 74. Jhn Defoes. L Arizona St.; 99. 
Wayne Coriander, f. Southern Cal Worn la. 

LA. LAKERS: 23. A.C Green, (.Oregon St.; 
92. Dexter Shows*, a. South Alabama: 111 
Tima Saoratnlnen. I Brigham Young; 131 
Tony Neal, t Fullerton St. 

MILWAUKEE: 22. Jerrv Remokta. f, Loui- 
siana SL; 61 Eugene McDowell, (, Florida; 71, 
CozeM McQueen, c. Norib Caroline SL; 114, 
Rov Knbht c. Providence. 

NEW JERSEY: 31 Yum Joseph.! Georg la 
Tech; 31 Fernanda Merlin. Soonldi Olympic 
team; & Nigel Miguel, a UCLA; 191 Kelly 
Bipfoe. a south Alabama 

HEW YORK: L Patrick Ewing, a George- 
town, 47, Gerald Wind lUiR, Tennessee-Chot- 
tanooga; 71 Fred Cofield, g. Eastern NUcN- 
oan; M. Mike SctUooel. f, Virginia 
Commonwealth. 

PHILADELPHIA: 21. Terry CatiedM. l. 
South Atacama; 31 Grog Stoke*,!, ipw«; 44, 
votoe winter*, f, Bradley; 67, Stove Black, e. 
Lo Wh . 

phoenix: W, Ed PlBdmey, t Villa nova; 
32. Hick Vowtac-SantoClonj; 36. Jerry Ever- 
ett. g. Lama 1 ; 78. Granger HnH. I, Temple. 

PORTLAND: 21 Terry Porter, g. wiscon- 
slnhSlevra Point; 25. Mike Smerek. a Canl- 
fiius; 3*. George M ontg om er y. L irtlnofc; sl. 
Perry Youne, t Virginia Ted 

SACRAMENTO: LJse KtahM*. Arkansas: 
SL diaries Branny, a: South Florida; 61 Mi- 
chael Adams, a Boston College; 7a wmie 
Simmons, c. Louisiana Ted 


SAN ANTONIO; M, AHrerirtck Hughes, g. 
Lay ala. ID.; 29. Mike Brltlxrin. C. South Caroli- 
na,- 3S, Tyrone Corbin, f. DePaui; 92. Scon 
.Roth. 1. Wisconsin; 106. 

SEATTLE: 4, Xavier McOanlaJ. f. Wichita 
SU 53. Rotando Lamb, a Virginia Common- 
wealth; 75. Alex Sllvrtai. f. Colorado; 97, Lou 
Stetanovlc, I. Illinois si. 

UTAH: 13, Karl Malone, t Loutstona Tech; 
37, Corey Scurry, I, Long Island U.; S3. De- 
laney Rudd. s. Wake Forest; WS. Ray Halt. g. 
Can talus. 

WASHINGTON: 12. Kenny Gram, t Wake 
Faro*,- xi. Manute BaLl Bridgeport ; 51 Ver- 
non Moore, g, Creighton: 65, km Perry, e. 
Southern Illinois. 


Mile 

NEW YORK— Recoiled Len Dvkstra. out- 
fielder, Irom Tidewater ot the International 
League. Optioned Colvin SCAIrakfl. pitcher to 
Tidewater. 

BASKETBALL 

Nattoaal Basketball Association 
CHICAGO— Traded Ennis Whatley, guard, 
and the draft rlahts to Keith Lae. forward, to 
Cleveland tar the rights to Charles Oakley, 
forward, and Calvin Duncan, guard. 

DETROIT— Traded Dan RounafMd. for- 
vnnl. lo Washington for Rick Mahorn. center- 
forward. and Mike Gibson, center. 

PORTLAND— Traded the draft rights to 
Mike Smerek, center, to CNcoao tar Ken 
Johnson, forward, and Ben Coleman, forward. 

FOOTBALL 

United States Football League 
PO RT land— Stoned Lee Salver, offensive 
tackle. 




mm 

ilill 



JQA1LUER 






Page 20 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, JUNE 20, 1985 



ART BUCHWALD 

Oh, to Be a GOP Target i 



W ASHINGTON — There was 
joy ai the “Cuomo in "88" 
headquarters. 

Beuweather, one of the New 
York governor's political advisers, 
said, “Did you read the papers? Pat 
Buchanan has called the governor a 
‘glib, fast-talking lobbyist for a re- 
actionary liberalism that would kill 
tax reform in its crib.’ " 

“Governor Cuomo’ s not upset 
by that?" I said. 

“He bos to pretend he is. But 
behind closed 
doors he’s 
thrilled that Bu- 
chanan has se- 
lected him as his 
No. I target. 

Any Democratic 
candidate would 
give his eyetooth 
to be on the re- 
ceiving end of so 
much name-call- 
ing." ssocnwaiu 

Tm sure Pat isn’t doing ithisito 
get Cuomo nominated in 1988,” 1 
said. 

“Maybe yes, maybe no. We’re 
not about to find out what causes. 
Buchanan's temper tantrums. Lis- 
ten to this from Pat: ‘Cuomo's in- 
cessant invocations of the poor, the 
downtrodden, the ill. almost invari- 
ably turn up as preambles to bud- 
get’ requests that would augment 
die power of his own political class 
— the welfare statists.’ " 

O 

“What ore welfare statists?” 

“1 imagine they are people in a 
state of welfare. The way we figure 
it. Buchanan considers Cuomo the 
president’s most formidable enemy 
when it comes to tax reform. Rea- 
gan do longer wants to make state 
and city taxes deductible. If the 
governor can rally support to per- 
mit people to keep their state and 
local lax deductions it would be a 
big defeat for the White House. 
That’s why Buchanan is resorting 
to personal attacks on the gover- 
nor.” 

“The lax reform bill must mean a 
lot to Pat.” 

“Frankly, the governor believes 
Buchanan couldn’t care less about 
tax reform except that it gives the 
president an opportunity to go out 
on the stump and maintain he's 
fighting a lonely battle again st 
Washington. But the White House 
still needs a real person to attack. 
So Pal has declared Governor 


Cuomo the administration’s No. 1 
Democratic devil. Gary Hart 
should be so lucky." 

□ 

“It’s hard to believe that Bu- 
chanan, as smart as he is, would 
help Cuomo run for President.” 

“All I know is what I read in the 
papers,” Bell weather said. “Let mcr 
read more of Buchanan: Tour gov- 
ernor is a statist, instinctively hos- 
tile to the idea that the people can 
manage themselves, instinctively 
cordial to the aggrandizement of 
government power. This president 
is a standing affront to that kind of 
politician' Later on he says, “Now 
we approach the wellsp rings of 
Mario Cuomo’s seemingly inchoate 

rage. The dirty little secret of the 
American left is that it is interested 
in power, not people.’ ” 

“That’s strong stuff ” I said. 

“A Democratic candidate for the 
presidency would kill for that kind 
of endorsement from the White 
House.” BeUweather said. 

“Then the governor is not going 
to ask the president to make Bu- 
chanan knock off the rhetoric?” 

“On the contrary. We’re trying 
to find ways of making Pat keep it 
up until '88. We want all his bile to 
be directed at Cuomo for the next 
two and a half years.” 

“Suppose Buchanan realizes he's 
helping the governor and not hurt- 
ing him. Do you think he'll then 
knock it off?” 

“Not PaL He's an ideological 
slugger, and Cuomo is a great tar- 
get for him. If we planned our cam - 
paign to bring the governor along 
to this stage we couldn't have done 
it any better. As far as the Demo- 
crats are concerned, anyone who 
gets PaL Buchanan upset has to be 
one helluva guy." 

□ 

“1 can see how delighted you are 
with the high profile for your can- 
didate. But Lhere is something 
frightening about an official in the 
While House fulminating against a 
governor just because he doesn't 
agree with a tax reform plan.” 

“Not to worry. Everyone knows 
that Pal has a short fuse. The more 
rage he shows the less people will 
take him seriously. From our view- 
point he can do no wrong. We're sc 
grateful to him that whim Buchan- 
an gets canned for putting his fool 
in his mouth, we're going to ask 
him to work for us.” 


Hollywood Revisits the/; Land of Oz After 46 Years 


By Aljean Harmetz 

New York Timet Service 

L OS ANGELES — Reluming 
/ anywhere after years is 
hazardous. Returning to Oz — 
that Technicolor world of 
Munchkins, ruby slippers and the 
Wicked Witch of the West — is a 
booby trap of immense propor- 
tions. 

“Return to Oz,” the Walt Dis- 
ney movie that opens tomorrow is 
the United States, must do more 
than compete with an old movie 
starring Judy Garland. Since it 
was first shown on television in 
1956, MOM’S 1939 “The Wizard 
of Oz” has become an American 
artifact 

“Return to Oz” is neither a re- 
make nor a sequel The Dorothy 
in “Return to Oz” is seven years 
younger than the Dorothy {Hayed 
by 16-year-old Judy Garland. The 
Scarecrow, the Tin Woodman 
and the Cowardly Lion are, at 
best peripheral characters. The 
Wizard does not appear. There 
are no Munchkins. And “Return 
to Oz” is not a musical 
“Return to Oz” takes much of 
its plot from L. Frank Baiun's 
third book, “Ozma of Oz,” and 
many of its characters from his 
second, “The Land of Oz.” Can 
Tik-Tok the mechanical man. 
Jack Pumpkiflhead, Billina the 
talking chicken and the evil gran- 
ite Nome King be welcomed into 
the imaginations of children and 
adults who have been saturated 
with MOM'S brighter fantasy? 

Walter Murch, director and co- 
author of “Return to Oz” calls 
his movie dark and, at moments, 
bleak. The Emerald City has been 
destroyed and Dorothy’s com- 
panions are puppets and robots. 

“Return to Oz” stars Nicol 
Williamson as the Nome King; 
Jean Marsh, who created the rcue 
of the parlor maid Rose in “Up- 
stairs, Downstairs,” as the wicked 
Princess Mombi; Piper Laurie as 
Auntie Em; and Fairuza Balk, 
who turned 10 while making the 
movie, as Dorothy. 

Balk and her 4 1 -year-old direc- 
tor both seem to really believe in 
the existence of Oz At first 
glance, Murch, a quiet, phlegmat- 
ic man with a drooping mustache 
and steel-rimmed glasses, seems 
the wrong choice for director of a 
fantasy. He could easOy play Dor- 
othy's Uncle Henry, that prema- 



Judy Garland, Jack Haley in 1939 “Oz”; Fairuza Balk, Ttk Tok in new Oz film. 

turcly aged fanner in faded over- 


Farm, a farmhouse built in 181 
in a nearly inaccessible town 500 
miles (800 kilometers) north of 
Los Angeles. 

His meticulou5ness brought 
him Academy Award nomina- 
tions for sound editing for Fran- 
cis Coppola’s “Conversation” in 
1974 and “Apocalypse Now” in 
1980, and nominations for film 
editing for “Julia" in 1 977 and for 
“Apocalypse Now ” He won for 
his sound editing of “Apocalypse 
Now." “Return to Oz” is his di- 
recting debut. 

It was budgeted at $20 million 
and completed for S28 million. 
The movie was shut down twice 
and its (Erector and producer 
fired once. In other words, things 
went much more smoothly than 
they did in 1938-1939: “The Wiz- 
ard of Oz” had three directors and 
10 screenwriters, Buddy Ebsen 
was poisoned by his makeup and 
had to relinquish his role of Tin 
Woodman to Jack Haley, Marga- 
ret Hamilton as the Wicked 
Witch was severely burned, and 
the budget climbed to an astro- 
nomical $2,777,000. 

The story of “Return to Oz" 


began in 1980 when Tom Wilhite, 
then Head of production at Dis- 
ney, was looking for new direc- 
tors. “And Tom bad worked bis 
way down to M” says Murch. 

Asked what movie he might be 
interested in directing Murch re- 
sponded instantly, “The other Oz 
books.” Murch’s mother, as a Ca- 
nadian missionary’s daughter 
growing up in Ceylon, had con- 
fused Oz with the Canada she had 
never seen, and later transferred 
that wonder to her son. 

Disney owned rights to all 14 erf 
the Oz books written by Baum 
except the first — “The Wonder- 
ful Wizard of Oz" published in 
1900. “And the books woe begin- 
ning to go into public domain," 
said Wilhite, “so, speaking prag- 
matically, it seemed like a good 
idea to use them. I told Walter to 
go ahead because, even though 
he's not the most demonstrative 
person in the world, when he 
talked about the Oz books, he 
came to life." 

Murch and his co-author, Gill 
Dennis, chose their visual tone 
from John R- Neill, the illustrator 
of all the books except the first, 
but they could not free themselves 
completely from the images of the 
1939 movie. Baum’s magical sti- 


ver shoes became ruby slippers in 
the MGM movie, and ruby slip- 
pers they remain. One of the vil- 
lains — a man with wheels for 
hands and feet — sounds like 
Margaret Hamilton's Wicked 
Witch. Balk, the survivor of a tal- 
ent hunt that auditioned 1,000 
girls in eight cities, has voice, eyes 
and bearing reminiscent of Gar- 
land's. 

When Murch gave Disney his 
first-draft screenplay in the spring 
of 1982, the studio was uneasy. 
Murch says his frame was consid- 
ered “too word and cold.” Prob- 
lems with the bleak, scary scenes 
in Kansas continued through pre- 
views of the almost finished film 
three years later. 

Murch got his friend Gary 
Kurtz, producer of “Star Wars.” 
hired as producer. Sets and robot- 
controlled characters were de- 
signed. Then, in November 1983, 
Berger, the president of produc- 
tion who had replaced Wilhite, 
shot the movie down because it 
was over budget 

Eventually, there was a com- 
promise. The movie would be 
made on a firm budget of S25 
milli on. Kurtz was marie execu- 
tive producer and encouraged to 


use his expertise with merchan- 
dising and forei gn sales. He was 
replaced as producer by Paul 
Maslansky. 

“Paul did an effective job, but 
he's very intense, and he rubbed 
Walter the wrong way.” said 
Kurtz With an immensely com- 
plicated movie to direct and with- 
out the psychological support of 
his producer. Munch floundered. 

Forty days into production, he 
was a week behind schedule. 
Berger went to London. Mas- 
Lansky told him that Murch had 
to be fired. 

Within an hour, Berger was be- 
ing bombarded by agents for oth- 
er directors. At 3:30 AM. be was 
awakened by a call from George 
Lucas, who was in Japan. Lucas, 
who had worked with Murch 
since their days at the University 
of Southern California film 
school said: “You're making a 
mistake.'’ 

March recalled: “George's 
main card was to tell Berger that 
whoever he goi the picture would 
be in worse trouble. He would 
have to shut down for six weeks to 
get another director, and the di- 
rector would want to redo the 
script and recast” 


PEOPLE 

Donna Reed Loses Bid ^ 
To Regain 'Dallas' Bole J> 

In a Los Angeles courtroom dra- . 
ma worthy of “Dallas," Donas 
Reed has lost a bid to regain her 
rote as Miss Elbe on the hit tclew- 
sron series. Superior Court Judge.. 
John L Cote denied Reed’s request 
to issue a preliminary injunction 
that could have halted production '; 
on scenes involving the Miss Elite 
character indefinitely, possibly up ^ 
to a year. Michael Donaldson, 'an *r- 
attorney, said he would proceed •* 
with Reed's $7.5-million lawsuit 
for breach of contract, filed Ian . . 
month. Reed signed a three-year 
contract in October 1984 to play ■ 
Miss Ellie. the matriarch of South- 
fork ranch, but Lorimar Prodnfc- 
tions informed her m April th at the T * 
company had decided to reinstate 
Barbara Bd Geddes in the role she . 
had created. Bel Geddes, who won 
an Emmy in 1980 for her portrayal 
erf Miss Elite, had left the stow 
after undergoing heart surgery. 

□ 

James A Baker 3d, the U.S. 
Treasury secretary, Lee A. lacoeca,. 
chairman of Chrysler, and the for- 
ma' first lady Betty Ford areamoia 
nine Americans humored frith Jef- 
ferson Awards for outstanding 
public service by the American In- 
stitute for Public Service. Baker 
was cited for service by a public 
official, Iacocca for service by a '• 
private citizen and Ford for service 
benefiting the disadvantaged^- -A. - 
fourth award went to Trevor Fer- 
rell, 12. of Gladwyne, Pennsyh**.- . 
nia, for service by an indivrdnal j- 
aged 35 or under, for his efforts to y 
care for and feed street people « \ 
Philadelphia. Each of the ferario-- 
crived $5,000 and a gold-on-srfvcr ' 
medallion. Five winners of awards 
for outstanding public service ben- ~ 
efiting local communities each its r 
edved $1,000 and a medallion; 


nr 1 '" 


,i- 

ftf’ 4 - 

sf- 




The wife of the Victorian miter - 
Oscar Wflde appears to have had a 
hidden passion of her own. accord- 
ing to recently discovered letters 
due to be sold at auction next • 
month. They indicate that Con- 
stance W§de was infatuated- with 
the bookseller Arthur Humphrey in ; - 
the mid- 1890s, when Wilde was in- /* 
crcasingly entangled romantically/ yr 1 
with Lord Alfred Douglas. Shej r 
wrote to “darling” Arthur to “tefl v 
you how much I love you, and how . 
dear and delightful you have been 
to me today.” 


T pro 1 

iff'-"'-' 

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till..: • 
S'J-;: -J •• 

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HiiU-" 

Jppmnv 

Nenvi’H- 


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Iwc-'ifne! ten Located near p tvj 

BSSfllO 5?3 (9 *1 


TUSCANY p-.-F-ty r^, P,w. 450 
, eMi'cJ. -rstoied. n-«S dfra- 
rauti land i?jD 0 )«in. e*c#pMwf 
.-«•<» FBEFUTO Pant ct (sfl g] 


REAL ESTATE 

FOR SALE 

PARIS A SUBURBS 

ST NOM LA BRETECHE 
SUPERB PROPERTY 

217 sq.ni. Irving spree. 

Private mdoor iwmnra tpooi, Finnish 
sauna, exercise room, 1700 iq.m. peek. 
VSYHKHOASS 
F2500J100 

Cap. (3) 954 92 00 

ON GOLF COURSE 

SI. NOM IA BRETECHE 

Sumptuous residence surrounded by 1 
ha park, large pool tennis, 6 bed- 
rooms, 6 boths, ax etakers haute, large 
garage. 

BATON 704 55 55 

Ux: BATON 630855 F. 

OOSSY 178) 14 mini. Etrxfe by RHL 
Uniiual 8. prreJxul 1971 arcktect- 
desgned house set in 1JJ00 sqjn. 
waited garden. 4/5 bedrooms, 32 
twx fivina. tbmg. Study, kilidien & 
19 sqjm^ breakfast room, 2 be/h- 
rooms. doakroam, double gauge, 
warbhoa laundry. F2550.0UC. 'k.A 
SarardoyTek {31 W6 22 59. 

PARC MONCEAU 

high dass buttng, 1970, luxurious 5 
roams, 208 sqjn., 3 bams, 2 mads 
roams, 2 parkings, justified tngh pnee. 
Tet 26? 84 5Z 

CHAMP DE MARS 

aid, high dass, sunny, 77 sqjn, xied 
ped-a-teae, 3 rooms, 380 26 08 
AGB4CE OE LtTOOfi 

' 

HENRI MARTIN 

161H: Very exceptional sunny flat, hgh 
dais. 360 sqjn, W: 380 26 08 

A MNCfc DE L'ETOUE 

MONTAIGNE 

Ideal pwd-a-tene. 68 sqjn, vwy high 
dass. 2 rooms. 380 26 08 

AGENCE DE L'ETOILE 

ALMA 

Sumptuous apartment, 440 sqm.. 4)h 
floor. Justified high pnee. 

Dor essay 548 43 94 

BAST1UE. EQUIPPED LOFT, 190 sqm. 
Tel: 272 40 19 

16* HENRI MARTIN, 210 sqm. 
sumptuous, parking, sun- 503 J752. 

SWITZERLAND 

VILLARS 

WINTER A SUMMER 
PARADISE, 20 MINUTE5 
FROM LAKE GBttVA 

Apurtinetiti. rangmg from mxkn 
la 4 roams. AvaflaM For 5de Ta 
hrstoies. Fcntastic mew. high qucA- 
ry, selected residential areas. Prices 
from SF1WSXO0 to SF635j000. Mart- 
ggges f ovgloble at only 65% msenai. 
For OTiorrncfiou- . 

GLOBE PLAN S A. 

Av. AtonJtepai 24. 

CH-1005 LAUSAhS^ Svrtnriond 
TetplJ H 35 11 H. HIB5 MfiJS CH 
Ertabtahtol Snce 1970 

SWITZERLAND 

Foregwis con buy STUDIOS.' APART. _ 
MfcNTS / CHALETS, IAKEG9EVA - 
MONTRGUX cr ei these world fantoui 
resorts CRANS-MONTANA, LES 
DiABWETS, VBJB1HI. VtUARS. 
JURA & reman of GSTAAD From 

sniaooo Abigagn 60 % at 6K% 
interest. 

REV AC S.A. 

Tour Partner in Europe 

52 MontbnBont. CH-1202 GSMEVA. 

Tel. 022/341540 Tetet. 22030 

DOSCTLY ON LAKE GENEVA 30 
mans, from arport n beautiful fu^i 
dass lestaence. luvury fiats, wnhpe«- j 
mils far sate lo iwresidenis. Just 2 
left Phone 5wit:eriand 021 -'715282 
office or 021*719370 eve 71x458131. 

USA RESIDENTIAL 

HUNTINGTON BAY 

NEW YORK 

One hour (ram .Mryfiatton-. French 
Norman-styte manor heme far sate an | 
Lang Island t nortii shore wfh beoueiul 
garden, lenrxe ond boo: wiihrn waik- 
rfirj driioree af the beach and pest>- 
90 US rcfhi dubs Fa.* further deiah. - 
ptease ccmcct ® 

AGED1 

26 Bo Bd nmcesse Charione 

Mente Curia. MC 98000 Motion _ 
Id |93J 50-66-00 ie*'- '55| - 

T«te- 477417 MC * 


INTERNATIONAL CLASSIFIED 


REAL ESTATE 
TO RENT/SHARE 


FRENCH PROVINCES 


GREAT BRITAIN 


montin to 2 yem. Mow 
agenwnr Lm. London 
Wee 299185. 


CHARING CROSS / 


Park 352 4111, North at Pa 
5135. Tekm 27W6 RE5IDEG. 


HOLLAND 


DUTCH HOUSING CENTRE B.V. 
Deluxe rentals. Vderiuntr. 174 
Amsterdam. 02D621234 or KFCm 


ITALY 


Whan in Ro me- . 
PALAZZO At VHABRQ 


Wwne- 6794325. 6793450. 
Write: Via del Vrinbro 14 
001B6 Rome. 


REAL ESTATE 

TO RENT/SHARE 

PARIS AREA FURNISHED 

y NEUKLY. Fumtehed townhane. dnmg 
a roam, double living, 6 bedrooms, 
mods room, frx July & August 
" F35,000/marth. Calk fl) 705 10®. 

- PB4IHOUSE AVE MGNTAlGfCi 
*■ near ChceifB Bysees, 120 sqjn. + 
y targe terrace, kgh date. 723 43 28. 

BE ST LOIRS, fasmic mew, luxuri- 
ous 200 sa. m. flat, 3 bedrooms, 3 
baths, RffliOO. Tet 052 9229. 

„ BBT Ifft new fuBy equipped fivina 
[ cfiruig, bedroom ckmxig ntdien bam 
an park, quite. No Agent 527 6710 

ST GOMAM DB PRES. Shxfio 50 

as.TsKSJ 1131 * 

PARC MONCEAU. July, August, 5ep- 
— fembor, 3 room*, 70 SQJH. edin, fire- 
ptac e. F5300 per rortk ^62 34 10 





ST PAUUMARAS. 2 rooms, items 3- 
4. JutysAug. F2900/ month. 27242 26 

PAWS AREA UNFURNISHED 

HUB, TOWER. 3 dowt/more, texurv 
ous 1-4 rooms, nml & Uly ecurad, 
from F265/day. Tet (1| 30G7B79 


P ARIS AREA FURNISHED 


Embassy Service 

8 Ave. Am Meame 
75008 Pin 

Telex 231696 F 

YOUR REAL ESTATE 
AGENT IN PARIS 
562-7899 

RATS fOK RENT 
SHOUT -LONG TOM 

RAIS FOR SAl£ 

OflKXS FOR UNT/SALE 


STAYING IN PARIS? 

HJRMSHB) 4 IMRJRraSHH) 
HRST-CLASS APARTMB4TS 
Minxiun rental 2 months. 
Abo Reft 8 boros for ado. 
INTBt URBIS. 1. rue MoAen. 
Para (M. Tel: 56317 77 


81 AVEFOCH 

bjjajriom Stacfiol 
ie, cokx TV. ti t ch en, dton «_ . 
e. No agency lees. F65Q0/monrK 
Vbit today. Tel: 574 82 3. 


74 CHAMPS-ELYSEES 8th 

Shxfco. 2 or 3-roam apartment. 
One month or more. 

IX QAJHDGE 359 67 97. 


AGBKE DE L'ETQIIE 

REAL ESTATE AGENT 

764 03 17 


TOCAD ao. 

good choice ot oportments 
short & tong term 
AGEPICE DB CHAMPS ELYSSS 
Id: 225 32 23 


hotel without mconneniences, feel ot 
home in rice studios, one bedroom 
and more m Pm SOfiHJM: 80 rue 
da lUrauenM, Pern 7th; 544 39 4 Q 


5th MONGE 3 ROOMS 

AB contorts, F50M. {1} 633 9 I 17 


ST OF LATIN OUARTBL 4:5 
'oom. HO fq.m.. ten cm 23 sq.m 
wew South. knuroA, parLnc, aimer 
W 633 21 12 <9-M am & 6 ? pn| 


OWBL by OurtWr, luxurious, 
tong term, tiudta, Lichen, both lm- 
an. K»ah elosi balding. M «100 *• 
chaises. 747 44 72 


HOOT TERM .n Uftn 
No agents. Tel. 329 38 33. 


Custer 


B4A HIGH CLASS. Beautiful 5-room 
op u rtment. FOjOOQ. Tek 720 94 95 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA UNFURNISHED 


MARAIS. 85 sqm flat, double Svmg, 
2 bedrooms, Dartong. f%(X». “ 

CHEVRHISE tLEJL 200 jqjn, pak 
5000 sc^m. RZ000. 

ST GSIMA1N HU. Townhouse, 

7 bedrooms. FI 6,000. 

Cciinnf Poston, American Healhx Paris. 
T«4: 052 9229 or 293 6050 


ICAR FOCR New . 

Hoot, bdeun y, jorp e doutfc 

bedroom, 2 bam, equipped . 

perfect condition, psfihg. FI 1 jOOO + 
chorgex TeL 224 64 69. 


NEWLY Bd. MtfloL lad Root, on 
Boh, luxury 4<oom, new. 160 jam. 
+ 200 sqjR. terrace, f 23,000. Tefc 
260 61 4i 


USA 


NYC EASTSDE 40YL 2 suwy mom 
~ r. Sleeps * * 

-I- deposit. 


now. 

art. Peril 633 7657 


REAL ESTATE 
WANTED/EXCHANGE 


EXCHANGE JULY/ AUGUST Pons- 
/Udm Quarter i^xsi III lent, Vnuiaus. 
comforts, 2 bedroom lor some in 
New Yorit Oty. Leopold. 9 Bd St 
Mfehel. 75005 fariT 


VBMESE seacbes furnished fU ei 
center ot Rome. Cal 06/870644 Cbom 


EMPLOYMENT 


FOR MORE EXECUTIVE POSITIONS 
LOOK UNDB 

“INTttNAnONAL POSmONS" 
PAGE 4 


EXECUTIVES AVAILABLE 


BANKING EXECUTIVE, economist, 4Z 
Engfctv Frendv Cernui, w3h IS 
years experience in Ingnd aidyso, 
prajeci appraed & finance, invest- 
ment supervision inducing board 

mambersnin i«d to negofrte with 
governnxnH & intann*ond iralitu- 
hons, with Bhm knowledge af 
devetopng countries, seeks new posi- 
lion ffiSSa/Zur^. Best 2«6 fir- 
aid TribiiM. 92521 Neuffiy GsK 
France 


HUNCH MANAGING 

45, " " ' ‘ 

lent at hard & delicate _ 

ertrepnmeur gr it, experienced 

corporation & sales itoioobbmI, 

good knowtodgo of Ada 8 > North 
Africa, seeks new chdtongo m Ada. 
Africa or South America. Pundud 
proipedmg or comnerod anign- 
ment tBfiponyiy oa^Liod. Avqaabie 
imfnedrtWy^VVme Bax 2426. HcrtW 
Triwne. 92521 Newly Codex, France 


WTl HNANC E DIRECTOR. French. 
40, mrporcee (raving, cash man- 
ogemert, co n f uj fcia budgeting. 
Worldwide experience. Worked for 
Fortune 500 Gamptnes in Europe & 
US, South America. Speaks soverd 
European languages, Mb chang- 
ing paufion m iitl ca or bank «i 
Europe, USA. Bax 2416, Herdd Tri- 
bunei92521 NeuBy Cedex. France. 


EMPLOYMENT 


EXECUTIVE 


MAJOR ELEOROMC 
IPONENT5 MANUFAC11 
and are locking for an 

APPLICATIONS 

ENGMEB 


mil in a 1 ! 

resume and handwnnen letter. 


EXKUIWE posmoN 


with French / Egyptian Law j 

fluent ARABIC 7B4G*JSH / 1 


would be an aneL Ardbic resume i 
certificate*, references & 


confidentially. 


International Business Message Center 


A1WNJK3N EXECUTIVES 
PabEshyaurh 


in the 6i 6 a notfmMd 
bunm, where more fbanoMrd 
at a mB Ran raadan » mW- 
wide, mosf of wham mm it 
Inlhirr and industry, w 0 
road if. Just Idn ux (Pais 
6135951 baton TOomk aa- 
suring Agf wm can leie at yarn 
bask, and your mossaga wtt 
appear within 4S hoots. Tha 
rate k US. S9.80 or bad 
mq u inda nt par fine You mat 

SsmrhmAM -- - J_ui osmJtS 

■myy tai ipvnr iaw votw- 


BUSINESS 

OPPORTUNITIES 


417 % 
PROFIT 

achial system track record 
1980 - 1984 
FIND OUT MORE! 

WM* today lor RtEE broc hu re 
and please first teste 

■uMUhM 

ymr m|RKRre ■■»■■■» m 

(Mnimen invesenent SIOJOOQ] 

WINCH ESTB? LIFE 

Assurance Sennas busted 
Dept AW525 

6 Anemia Lloyd George, box 3 
B-1050 Brussels. Bdaun 
Teb p2|6«Sa) 

Teles: <M978 dunn b 
Beslnded n Belgun 


BROKERS 
INVESTMENT ADVISORS 

Your de n s can imrest in one ot Amen- 
co's mod exottog techndoged brook 
througfemabiuidofiar nut mdustry. 

30^000 frees ufrnady P lo whtd I 
Dividends Nd. High annual evmgs 
assured for many, nawyeai. Geear- 
ow r o iemlw icns gwf floaus. MoSen- 
d owstotte as Enghsh, French, German 
Cantab: 

GLOBE RAN 5JL 

Av .Von-Bepcx 24, 

'^-1005 baimne. Swit z erland 
Tel (21)2235 12 -Tl» 25 TB5MRISCH 


BUSINESS 

OPPORTUNITIES 


LOOKING FOR A 
POTENTIAL PARTNER 
M MIDDLE EAST 

A corporation esfttofehed dnae 15 
years until offices bcntod m Europe, 
fiAddb Emt md USA, hamg represen- 
talivos ad vcAidjIe rtfrocuefions in 
North Afric a and M iddle Ecfil odi ng as 
odvison on behdf of nop. bropcai 
USA and iieeroe oamp u 't ci m these 
areas for him -toy projects, owning 
some af the office bastions they pres- 
entty operated from, seeks pint aaob- 
aaon wdspotentid busmewnenor firm 
obb to bring more representations and 
■mroductions in the Middfe East to ex- 
pand present octrvities aiwel as 50X 
mvestment af the actual assds owned. 
Totd sale end/ or other premoeds ere 
negotiable. Wnie in lon f id enoe with 
fu« deft*, f in anc i al assets, rrfp cn e es. 

C 15-115262, Pubtatas, 
CH-12)lGBiiew 3. 


OFFSHORE & UK 
LTD COMPANIES 


Ue af Man, Tmta. AaguAo, 

Worlds, Fanoma Lierw, Gibrofto end 
most other offshore areas. 

• ConfidMnl odnee 

■ Imtnedole nwriabikty 
a Nominee services 
a Bearer shm 

• Boat I'egrstrwurn 

• Acrartrnn & u tknini sl i uli on 

• Mad, tehvhone & telex 

Free eom fo nafory boekW Eraae 
SECT CORPORATE 
SERVICES LID 

Hoad Office 

Ml Reams), Doudqt, Wo af Men 
Tefa DeuNa [5624)^718 
Telex 628554 SflKT G 
London Eupresenlhn 
3 5 Old Bend &, London W7 
Tel 01-493 4244, Th 28247 SC51DN G 


OFFSHORE TAX SHELTER 

COMPANIES 
UK, Ue of Man, Turks. Gomel hkxds, 
Parwna, L&ena aid mod offshore or- 
eat. Complete support faakties. Very 
ifncf annhoeiilkimy. 

Free consultation: 

Soger Grrffm LLB^ F.CA 

Brodve- Corporate MonogBment lid 
Western Howe. Vctoria Street. 


BUSINESS 

OPPORTUNITIES 


USA 

BUflNESSg 6 REAL ESTATE 
Busbe» sates; commerad, industrid & 
reridentaJ real estate-sdos & basei. 
Property mBnoaetBe rt & business de- 
velopment Write wnh your nxjure- 
ments & fimnbd spea to Hrson Snahy 
& Bums Brokers, 14795 Jeffrey Rd, 
#2111 Irvins, CA 9271 4 USA 714651- 
BaRfcTbu Worn. 


COMPUTER PORTRAITS 

T-9ROT FOTOS 
NOW M FULL COLOR 
an dUmh business that can ecm you 
W 000 - SlO.OOO/month. NewandrnS 
sydemj from 5950Q . 526^00. 
tornDrwf. 112, Postfach 170340, 
fiOOO Franlcfurt/W. Gentium 
Tet 069-747808 Tfc 412713 uMA 


TEXIHE MACHINERY 
Tmspati tVod urt ioii Madteie 
Cotton Swab Fannim Madme 
Cottmi Pad Machine 
K. FASSBNMUDWIG & Co. AG 
OLB 6 «W^B. Jana 

Tet {53331 41.1k: 875349 FAUJCH 


, US MARKETING HUM 
Seek uncpie auu & hardwore dam to 
seB in US. S*ung cash position & con- 
tads.enables i us to mm quic jjy on 
prindpdor joint venture basis. NQ, 49 
W. 57St„ w NY 10019. Tet 212371- 
4656 Tfru 420511. 


AN MTBMADQNAL GROUP seeks 
pint -venture patnjmnk fbrhbhev 
coma pFoduong red aiote stuand in 
the USA Or esewfrere. Compreten- 
.sw infai mol i ui i avadabh tram bt- 
sght PubScahons SA, Box 200601. 

CW®e de VAderba 878, USD 

BruMob. Belffun. 


A GROUP OF RAMCES5 is forming o 

sub*tanfid Swia Portfolio Menage- 
mens Bank & is imnhng nmkn to 
apply far eqiily partt yu ti u tL Prmei- 
paB & aulhonxed agents only. Bax 
4117j| LJT.^ long Acre, landon 


GBCRATOR SETS. Far afi applas- 
uons, 15 to 2JM0 KVA, fist supplies 
worldwide by m anu fact ure r : ABZ 
AGGREGATEiAU GmbH. FOB 1243 
/ Steflner Sir. A D2000 Hamburo- 
Nordentedt. Trf IMV5231041. Ik 
2164282 ABZ D. 


START YOUR OWN BUSINESS 
with C10JK0& earn £50,000. No se&ng 
bed. Ready redd Gutters suppli«{ 
PARAMOUNT. 34 Ivor Ptoefc fivton 
NW1 6 £A, Ik 295441 Paramount. 


BUSINESS 
OPPORTUNITIES 


ond 


341667 RMYM R.-337. 


g. [via mg 


BUSINESS SERVICES 


MTL - 

BEAUTIFUL PEOPLE 

UNUMJ1H3 INC 
O&A. t WGRIDWDE 


lUeraa, vgnaui Cm i 


FromoUond ocottoM. 
212-765-7793 
212-765-7794 
) W. SMi St, N.Y.C lOt 
Service Ite p reient ulm es 
odWortdwidc. 


Needed 


Report - 12 countries anah 
Detdk WMA, 45 LymSwst 
Suite 502, Central, Hong Kong. 


FINANCIAL 

INVESTMENTS 


DIAMONDS 


DIAMONDS 

- , ^“y-. 

rme oamanas m any price ran 
e* lowest wbatetete prices 
efirect from Antwerp 
center af the demand world. 
Ful guarantee. 

Nr bee price fist write 
Joaefam GeUerataln 


Eacfefahcd 1928 

Wtawtrod 62. B-201B Antwer 
-Ti 4&3)234 07 51 
Tbt 7177? cyl b. At the Diaiml dub. 
Heat of Antwerp Diamond industry 


EMPLOYMENT 

GENERAL POSmONS 
AVAILABLE 

a OVERSEAS 

R Contract employment now avcxbbta in 
Austrafia, Europe, Middle East, Pacific 
Basin & the Far East. Benefiti mdude 
excelete scfary, free housing/transpor^ 
Uion & tax exempt status. Current 
apenxigs in etertronia, umtiwdon. 

^ petrcwfiem. mediod. awedon, food 
^ senrice, security & many other fields. 

J For mformatan/araderation send re- 
u_ sumo m oonfidancu tot 

? Orate— Mstong— enl Corn. 

" 1833 IU*awAra*Sto. 40B, 

° HnnnfrJn. M 96815 

? 808/942-7181 

» Uc,nrf ^ H ™ iA8Enw 

pHH 


■* SAISSPERSON required for new pres- ■ 
tigeous interior and exterior dem 
showroom in Monaco. Mot be hifyxy 
wdified and experienced and speox 
- French and llcdnn fluently tmd English 
reasonably wefl. Top salary and oom- 
1 ncsnnn. Write wtih C.V. to Hckb N 

1 1080, 4 me dm Ins. Monaoa. 

H4GUSH SPBfcKWG sdesgiri wanted 
| Tek 770 80 69. or preferably veit win 

person at tenettme, PARRIMBK, 3 
rue du Haider, Boris 9, Metro Opera. 

CHARMING FEMAI£ MODELS need 
_ ■ ed. attractive sdanr. Ptease send pho- 
/ ta to TST.HD Box 91317, Hong Ktxig. 

i general 

r- POSITIONS WANTED 

" AMBOCANMAL^ 46. seeks norviyp- 
- mg dteriaol pca'Kan m Amsterdam, 

S Barcelona, Munich, Vienna or W. Bar- 
d fin. Experienced bat no) fdkiwaL 

D Contact Austin R. Stavgh, Jr.Ban 855. 

OncinrMfl, Ohio 45aTL6A,Tefc 606- 
” 283-1423 

_ ATTRACTIVE t ELEGANT LADY, 26. 
Swia rxdwe, used to representation at 
rtl level, seels PA position, frewd- 
Sng wesoome. Please write to Bax 

S^TFrimtadtor.lS.WOCD f 

DYNAMIC ANBICAN LADY ra* j 
postean Paris. SUcd odmindlraw. 
/cmnmunaatar-axset to any officr.. - 
nwhon waried: resistant to executive 
/ oompaiy, PJl VWSna to travel _ 
CbntaelCurry. tek Bl 38^-8266 USA. f 

FWCH HKM FASMON MOOS.27, 
Wstary of Art graduate, tools far 
f WBne “. 0 P tn W MmcA/e. artiaf- 
tate, waB-haveled. London based. Tel _ 
London 22583 68 , 38 pm. 

SECRETARIAL 
POSITIONS AVAILABLE 

MINER VF SSCS far AMBSCAN 

FIRIVS in PARS- p 

EngSsh. Belaan, Dutch or Germsi r 

•* ha ** R 

uensss. Wise re phone: 138 Avenue c 
75H6 Preis. France. Td. 1 
B 

Daa't mite [ 

- M 1 BWATMNAL V. 

SKRETAR1AL POSTIOHS 

TUESDAYS 

to the WT Oauffied Section. “ 

EDUCATIONAL 5 

POSITIONS AVAILABLE 

W«UAGE SCHOOL 

teachers. IWst 

Etc passport Dr void wartenn _ 
pmsj. mramum cojtrpC fi raanits 
SoFar Ungues,caB Pari* 747 128a , _ 


OFFICE SERVICES 


TOUR OffXXM CENTRAL MADRD 

+ meeting rom & telex. All services 
ta start bumpL Lead & finanod 


IMPETUS * ZURICH • 252 76 21 
Phone > telex f maibar 


POSITIONS WANTED 


«rie ,rarSdiaifofl£2di^2 1 iI^ 
ested mrfividuob & mitary arfiahtexi 
ffu? S a i** e or FfOncB- 

es«NMSsair 


EMPLOYMENT 


DOMESTIC 

POSITIONS AVAILABLE 


UVE-M COlfftE Cooking, woit _. 
table & housekeMteg. Separate 
house, to five in Oxfffortmvtlc. Virgin- 
ia. Sraei fcrrJy of ackitis & tented 
entertobment Hope to fil padtion by 
Sent. Please reply with references to 
ROl Bor 6601 ChartottesviOe. VA 
22906 USA. 


TRAU<S> A EXFSHB4CHI NANNY. 

ten Juty 1. Care of young chid & 
twins. Prnrata aparfenant. (bssible oth- 
er light duties. Sakry amunemuraie 
with emerienc e . EngSsh specking, 
non-jmoleer, driver's ficense pre- 
ferred. NtataA references 113305a. 
Gfen Rti, Potomoc, MD 208S4 


mVATC HOME. Alfanfa, Georgia. 
Attractive, young mother needsaBsis- 
tonce b earing Fa 2 &4yeorobgck 
Mut drive, nap in ft lim hotaettep- 
ing Sdory ne g o ti able. Weekdays oM 
404963-9285 a write Box 307. Law- 
renoevile. GA 30246. 


RBPOWffltt NANNY IOR 5 YEAR 
aid boy m West Canada ond Europe. 
Very weU ped Phase co n l u c t Con- 
stemtia _ IndustrieverwabungigM. 
* ARK, Opernring 19, A lOlO Wtem. 
Austria 


AU PAS GOtt. Core of infant daM, 
cleaning. NYC suburb. English speck- 
ing. Drivers kerne. Photo & refer. 

ffi' vrSSP* 100 A *** Mobk> 

peciuo, NY 11758. 


DOMESTIC 
POSITIONS WANTED 


children's nanny, mum's h el pers & _ 
broncho* of 1 st dass five4n domestic 
help worldwide. Cal Skxne Bureau. 
London 730 8122/5142 Q4 hounl LI- 
CEMPAGY. Tk:895067t5OAhEG. 


ly experienced with children, very ret 
able, free now. Fry Staff Consultants, 


btdtyrnmdere, 1 st dais daiy meads & 
chouffmrfi- Soane Bureau, 730 8122 
/ 51 4Z licenced employment agency 


EATON BUREAU NAMES - & ri 


, now. 

-.138SfaqfSf.SW1 
UcencEd UK Bncrayment Agency. 


AUTOMOBILES 


Spretah tourist pldes. 1984 Mercedes 
Bern 280 station wagon LHD, Get- 


SBtAU 4001, 1984, autamatic 
143)00 ten. meWfe^act spSd 
bene teatner interior, blade OTpet. 
pe rfect ooaefition. Tab Geneva 
Q22/B6 45 21 or 64 36 25 


ten. 
owners. 


oxidbian. Amencon 
firm. Tel: 261 2 39. 


options. Teli 


BJB 500 5L bladc, Fu 
feBelgwn 323/231 42 38 


don. Ue 62705 NY Tet 212 582735. 


AUTO RENTALS 


reservation hove a cor at your efisoas- 

“LISSL re™ 3 ** unkmted kkme- 


AUTO SHIPPING 


TRANSCAR 

THE CAR SHBV&IG 

sreoAusre 

s K 98 S 

ten 

BB081 
_ 10 45 
HI 43063 
£S 7061 
931 7605 
568 92B8 

AGWTS WORtfi 6681 

leave it to us to bring it to you 


AUTO CONVERSION 


OWNS to UJ5. 
guaranteed. VIA 
neeport Centie, Bdti- 


AUTOS TAX FREE 


10 YEARS 

We Debar Can to *• Mfadd 

TRANSCO 

K^tmgoawtort stock of more than 
300 brand new cars, 

"la'S'&sasar- 

T'orero SA, 95 Noor d ekxm. 

Td 323.'542 M^TIIANS B. 


AUTOS TAX FREE 


COOPS ST JAMES 

OfHCDU. AGENT 
OF BMW (OBJ LID 

Wide you ore n Europe, we can offer 
conuderabk savings an brand new 
BMW an (a mod spec i fica tio ns. Rd 
factory warranty. 


lit 


VW con dso supply right or left hand - J 
drive tax free BMm at touret pnceL/* 
We dra supply Factory buA Dufia' 
proof BMWTand dhe Alpino 
range h» free. 


ft Av.i'S-- 


CaR London (0!) 629 6699, 


NEW MERCEDES 

PORSCHE, for immedteM defivery 

FROMSTOCK 

Batf service, d ti p f i li i g, 1 l total 
m USA 


RUTEINC 

TMMUSS7R. 5X 6000RANKRJRT 

W Germ, tel (0J6P-2323S1, Ik 411559 


OCEANWBX 
MOTORS GmbH 

Since 1972, experienced oar trader fa 
Mercedes, Porsche, BMW. Iww e drite 
defivery. FyO senna mport/export. 
U5. DOT t EPA, stepping far tourist 
and dealer. OacmwideMoton GmbH, 
Tcantesenrtr. 8 , 4 Duessddoif.' W. 


Germany (0) 211A34646. tix 858^374.' 


EUROPORT TAX 
FREE CARS 

Gd or wnte far free catalog. 
Bax 12011 

AiraorLHeRaed 
J) 111623077 
- EPCARM 


Ti 

Telex 


TRAtBMUNDI rajGWM, 21 Gcstd- 
sebarecB-2241 Zoersd. Artwmp.TeL 
O3«4^0SI 7k 323d Traram 9L ki 
stadt; Meroedes, BMW. A5Q. 


lOTOS, VOLVQ, SAABv Affa Romea 
AI modeb m stadt Bmnussotdun- 
dta te Ge, Monte Cade Teh (93) 
304B51 Telex 4791 15MC FARM. 


LEGAL SERVICES 


■33129. Tel PQ51 6439600. tx 441469. 


LOW COST FUGHTS 




fli> ili' . 
jii:'; j 

B< j 

zr:--. 
is- S 
■sis! 
-Rinr.:- 

illkY i?." ’ 

,\7. 

- - 


Is:*. . 

- ■ ■ 

.. 

h v • . 

W - 

Cl- v 7. 

Sa <- 

t;.' . 


NEW YORK, 1 WAY FROM $195. 
Wfat mat, round tap 1 year S585. 
Cdl Genera 32 42 Bft 


KTT ONE WAY $150. Ewyctay N.Y.- 
West Coast $M5. Paris 225 92 ?a 


It. 


HOLIDAYS & TRAVEL 


CHARTER A YAdT M GR&CE. Ofi- 

red from owner af largest fleet 
Ameriaan managemeit ExteBert 
WjPort. bonded. Vdef Yodto. 
i ThemistoWeous 22C Pr 0 ® 8 * 
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21-2000. USA offices: Fir L . 

bter. PA 19002. Tet 215641 16 


TUSCAN HOUDAY CLUB. Vrafa n 

rental xi Tusoony. Woes from UalTO 
to USSlOOOa weefeTHC - MOB 
Certddo . Bohr - Tk P3106. 


HOTELS 


GREAT BRITAIN 


LONDON. GUBTTOLBE $15 per 
day. 455 3764 7 202 7325 f 


ARTS 


LEFEVIE GAUERY - 30 Burton St. 
London W1 - M-493 2107 tropartart 
30X Si XX Century wab dalWr 
June -27th^,MOrtdcy» ■ Wbjjl 
10om-5pm. Sotenfay IQot • 1130pm 


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AUTH&ITiaUE CABINET CHB40t5, 
llte slide, nenstoban nacre. A 
vevdrs. Tet Pais. 428 45 73. 


COLLECTORS 


R3R SALE v«ry beautiM “chaieldne' 


Page 17 
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CLASSIFIEDS 


~1! S, 


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