Skip to main content

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

See other formats


The Global Newspaper 

^ Edited in Paris 

Printed fijiwnll , an«»Mil y 

in Paris, London, Zorich, 
Home Kong. Singapore, 

The Hague and Marseille 


WEATHER DATA APPEAR O" »AGE U 


No. 31,736 


people 

$2“ 

TVletta, pctccm .,r ,1 Wl ^ 

&y«md Africa- lit* PiOiS* 

15 "“de the 

U using United hi. 

ss Arafat Reaffirms 
Impact With Jordan 

pridu^jK^j™!^ Calls U.S. 'Hypocritical’ m Refusal 
An Amc D To Acknowledge PLO Peace Move 



Published With The New York Tunes and The Washington Post 

ZURICH, MONDAY, MARCH 4, 1985 


Mgn._. 6 X 0 On bta#( I S-’SO No~*, ’ 30 IHJK 

*»i — .. ..Z)S Hoiy. ...'Milt, Ctaoft 3 XOb 4 h 

Mvain USD* 458 ft* - - -Whs. 

— *»lf> .. Sh» H 00 O'*" - 


CmJ>— Cl I JO 


[g»P lOOt U'yn -.-LDn OJ. _. ?JC %K 

R«wd— /»f M 1 Swwfcand !2«ft 

Finns _.. bOO I MQd *' a Bhe <«s _ UJOtke 

Oww^-ISODM **“ !*t#» - T t«CDC 

f«« Hi ./>* y i * *taoroj---SJO£r> u«_t tSJCV* 

I>m Kjp. ILS Nd (tmf .ce 

tm ltibsh Ngrn.. . . I-’OK Tugabi*. — ''OP 


ESTABLISHED 1887 


J’Mcara 
tout 40 
net ever 

fcacopt 

issue of 
< Comet 
d e\e in 
nclttittt 

*0* Ulsl 

-raunwr 
?. 1911. 
A equip- 
aft on us 
Rl.Oih- 


llte "Wrv utvim hi! • 


By Judith Miller 
^ Seur York Tunes Semce 

in TP^n* TUNIS — Yasser Arafat, chair- 
man of the Palestine Liberation Or- 


Uni ted States to refuse to i 
the organization, since high-level 
contacts between a dnrim s tr arion 
officials and the group had fre- 


i-i. win- '•i. said lU, ijuiuuk uic r«utaiujc lwctjuuu v/r- „___j mIj, ' # l„, 

SS*inch f «*cd hiv id n iu^ PP^ 0 ^ nysteis fmnly asm- £ jjj * 


deeiron- 

.■medthe 

iiitg. 


defector 
d he had 
■>L is try- 
c earned 
in Bnt- 
iends in 
eign cul- 
Writers' 
Gazette 
c in Sop- 
ited asy* 
s than a 
/ilh wnt- 
f censor- 
i work us 
noocy in 
to Klos- 
saper re- 
engaged 


to his agreement with 
^ Jordan on a joint approach to seek- 


4-bina. CourdVr^ * nutted 

WaH "f Chmi EjfS: ^ rd30 <■- 

last year ( ., n a ^ ing peace m the Middle East. 
(2,0SU-milei ziejaf®* BuUin an interview Saturday, be 
him through nurn denounced the United States' 



ltt ‘thiheB^ 


He died several occasions: the 
evacuation of US civilians from 
Beirut in 1976, “daOy contacts’* 
over efforts to free Americans held 
hostage in Iran, and Lhe return 
from Iran of bodies of U.5. soldiers 
killed in the Iranian desert during 
the failed rescue mission. 

He warned that the administra- 
tion was malting a “fateful mis- 
take” in not encouraging, the PLO's 
new commitment to negotiations. 

Mr. Arafat said Palestinians 
were also responsible for the raids 
against Israeli posts in Lebanon. 



recognize 

dio io chtunichih! 1 *^ “They called for an agreement 
studio Woke between Arafat and King Hus- 

signinn him an , ^ 5®“-" Mr- Arafat said of the Rea- 
tor and pr.vu,. administration. “But when we 

give him LTexmv *** 2? ned il » *ty* asfeed “ for mDTC - 
Peikano , fr u c «c There is no wfeh to arrive at a peace 

truest inn^" , ,**’* Mr. Arafat said he had recently 

4 "‘ n> King Hussein two Umax £ 

q meats, or “darificafians,” to the 

Israelis Mount Large Assault Against Shiite Village 


Daniel 
to discuss 


ItnAmnMdniy 

Ortega Saavedra met with Secretary of State George P. Shultz in Montevideo 
uss U^S. -Nicaraguan relations. The man at center is an interpreter. Page 2. 


U.K. Miners’ Union 
Votes to End Strike 
Without Settlement 


tor wa* uirfaSJS-' H . e ff d al f OI1 fi hh,s ^ 
it f.w iKh . , n . not received a formal respOTse, he 

more hL ^ C r, **’■ ^ cmain the king would accqn 
- t- Zi! ! ? fd ® » the amendments 
lover his P n^- night p ani . j^r. Arafat denied reports that 
v aine Muiin> Coutvfe be had rejected a proposal from 
Herman U «ik pU > , President Hosni Mubarak of Egypt 

, A • queens nteatcr ihii ^ that Israd negotiate directly with a 

S Amen- i n and duw: ted. 1 a thetr Jordanian-Palestiman dek^tion. 
released 1«»54 Pulitzer He said he had objected to key 
f going to room drama. Hestcn » parts of the proposal but was 
i and the tenant t I'mmander ^working with Egypt on other ideas, 
ictmkoff, paranoiac World Wj, Israd has vnpprnird Mr Mnhar- 
]& Group, played on screen by It ak’s initiative but rejected the Jor- 
guiar sin- gart. Thccntu MkU[danian-PLO accord. Mr. Arafat’s 
The Financial Timor objections to the Egyptian leader’s 
on HcNton. "V<u «Lnk'P r op° sa l are likdy to dampen 
insanitv could p-vafe: hopes of an imminent break- 
mam tv." Ocncv *t* through. 
i> in London for 11 * Mr- Arafat rejected Mr. Mubar- 
which HiMnn said ts ; ak’s suggestion that pro-PLO Pal- 
commitment estinians who were not known 
members of lhe organization be ap- 
to thejoint delegation. Mr. 
_**rf** said lie' could not accept 
“any conditions or lumtatioas” os 


tension of 
: released 
fill bring 
m of the 
! Jackson 
> Wonder, 
pfogsteen 


By John Kifner 

Sr*/ York Tima Semce 

BEIRUT — Israel mounted the 
largest operation in its crackdown 
in southern Lebanon, moving in 
force into a Shiite Moslem strong- 
hold. 

An es tima ted 800 soldiers con- 
verged from three directions early 
Saturday on Marakah, an isolated 
hilltop village east of Tyre, accord- 
ing to sources in the United Na- 
tions Interim Force in Lebanon, 
the UN peacekeeping force. The 

columns were supported by three 
tanks, SO armored personnel carri- 
ers, two bulldozers, and 30 other 
vehicles. 

One Lebanese was killed evading 
capture. Israeli officials said Satur- 
day night, and three houses were 
destroyed. Another house was bull- 
dozed in the nearby village of Tor 
Dibba, witnesses said. 

Details were scarce because the 
Israeli Army has prohibited foreign 
correspondents based in Beirut 


Israel Orders Start of a New PuDback 

The Associated Press 

JERUSALEM — The Israeli cabinet approved Sunday the second 
phase of a three- stage withdrawal from southern Lebanon and ordered 
the army to begin it immediately. 

A cabinet secretary, Yo&si Bolin, said that Defense Minister Yitzhak 
Rabin had indicated that the second stage of the withdrawal could rake 
up to 12 weeks. This part of the withdrawal involves dismantling 
fortifications in eastern Lebanon where the Israelis face the Syrian Army. 

The cabinet unanimously approved the immediate start of the second 
stage, Mr. Btifin said at a news conference following the cabinet meeting. 
Although the withdrawal was to begin Sunday, be said, no date has beat 
set for its completion. 


M « v m | . | a III m “AAV WUVUUV1U VS A&MJJUJ 

Your CkwHted Ad Quickly ofl^ p L( y s appointments. 

He also said the talks should take 

NtlkHAHONAL HERALD TWQplace under UN au sp ices , rather from entering the area it 
* Cd *«.- u«oi Mi , *»**«+* -httifban American or Egyptian, as Mr. . brad* uoops prevailed ltwu re- 
UradlTiSc .oi =« .mjoMubarak had suggested. ■ porters from getimg closer to Mar- 

« od «nH in*—!- -'tvr 4.H iwvn But he said he and the Egyptian akah than Teir Dibba, at times fir- 



MM» V.-ut 

■AbOfna 

WM 

gj»Og 
ter. ’S» 

, 3nlJCW .*fl -<- -1 
KAUia-JV 

^J08V| 

m- 

,,ptia3fc49u: 

P2| 

r . (6S1 IM'-ms 
K: 01 WH 

IOTP JTAT1S 


The two-hour interview, the first heard ale 
^Mr. Arafat has given to a Western siqns, J 
———-newspaper since signing the agree- Beirut. Black clouds of smoke 
Bogota w»ment with Jordan, took placeat iris could be seen from tires set afire by 
on the outskirts of Ham- the villagers. 

- V,7.aiiam-LiL a' resort town about 10 The Israeli crackdown b^an al- 
miles (16 kilometers) from Tunis. Jt most two weeks ago, after a colo- 
Pcmama 9*tfwas conducted mcstiy in English neL a major, and a sergeant were 
Son Jo» ^ ,f arid partly in Arabic. killed in ambushes in the first three 

Mr. Arafat, attired in khaki 
00 par amilitar y garb hut not his tradi- 

MMUg onal headscarf, m^eared rested 
confidenL. Ms humor was 
yrtan: sit good exequ when he spoke of the 
Kuw«t ^United States or what he was 


fense Minister Yitzhak Rabin, who 
described the operations as an 
“iron fist,” say the new measures 
will crush the mounting Shiite at- 
tacks on Israeli occupation troops. 

“It is working,” an Israeli colo- 
nel who was not identified, told a 
group of Israel-based journalists 
last week. The colonel was am- 
ducting a tour of the new check- 
point at the Qasmiye Bridge over 
the Utani River, north of Tyre. . 

“Our feding is that the popula- 
tion today is beginning to build a 
rejection towards Hhese radkriKei^- 
ments that live among them,” the 
colonel said. 

The journalists based in Israel 


who are allowed in southern Leba- 
non must travel with an Israeli 
Army escort officer and are guard- 
ed by soldiers. Their dispatches are 
subject to military censorship. 
Their accounts said that Lebanese 
had declined to speak to them. 

Western diplomats in Beirut and 
military expats who have studied 
the increase in Shiite attacks in the 
last year and a half expressed 
doubts that the Israeli crackdown 
would work. 


it, but is going to create something 
much worse than the Israelis have 
ever had to deal with before.” 

“This is really a short-sighted ef- 
fort, “ he went on. “It only helps 
feed those who are saying 'on to 
Jerusalem.' Nobody wins these 
kinds of wars, not the R ussians in 
Afghanistan, not the Americans in 
Vietnam, and not the Israelis in 
Lebanon.” 

Nabih Beni the leader of Amal 
the main Shiite organization, 
threatened retaliation m northern 
Israel for the raids on Saturday. 

“From now on, whenever a 
southern village is attacked, a Gali- 
lean village will be hit.” Mr. Beni 
said at a news conference. 

His remarks echoed those made 
earlier last week by Daoud Daoud. 
the clandestine leader of Amal in 
the south. 

Thus far. the Shiite fighters in 
the south have limited thetr attacks 
to guerrilla raids against the Israeli 
Army and its local militia allies, 
and have not launched terrorist at- 
tacks Israel itself. 

But several recent attacks 
against Israeli positions have used 


By Michael Gerlcr 

ll'asMingtpr] Post Smite 

LONDON — Britain's coal- 
miners ended their 51-week strike 
Sunday when union delegates vot- 
ed narrowly us return to work with- 
out reaching a settlement with the 
state-run National Coal Board. 

The 98-91 vote to end ihs stop- 
page went against the recommen- 
dations of Lhe executive committee 
of the 186,000-member National 
Union of Miaeu-orkers and of its 
Marxist leader. Arthur ScurgilL 
who has been the driving force be- 
hind the strike. The delegates voted 
to resume work on Tuesday. 

As Mr. Scargill announced the 
decision outside the Trade Union 
Congress conference hall, cnes of 
“No! No!" went up from miners 
outside. 

“We are not going back!” shout- 
ed a striker, and another yelled. 
“Traitor, you have sold us nit!" 

Mr. Scargill said: “I can only 
come out hoe and reflect the deci- 
sion of the conference, which was 
taken democratically." 

Delegates, he said, “decided that 
the National Union of 
Mineworkers should organize a re- 
turn to work ou Tuesday and that 
the dispute in the industry will con- 
tinue until its aims are completely 
fulfilled and there is an amnesty for 
those dismissed in the dispute'" 

Regional union delegates decid- 
ed that a surge bock to work by 
thousands of miners in recent 
weeks was on tire brink of becom- 
ing a flood and that the only chance 
to avoid shattering the union com- 
pletely was to go back to work 
logether without accepting the coal 
board’s plans for the future of the 



Como P>«ii 

Arthur Scargill 

never to yield to a militant union 
that used what she called violence 
and intimidation. 

Opinion polls, however, show 
that Britons are dissatisfied with 
tire performance of all three key 
figures in the dispute. Mr. Scargili. 
Mrs. Thatcher and the coal board 
chairman, Ian MacGregor. 

The strike has produced hard- 
ships for the miners and their fam- 
ilies. The union provides no strike 
pay, so a year's salary of about • 
$9,000 has been lost and most fam- 
ilies are deep in debt. 

The strike was not over wages or 
working conditions but rather the 
coal board’s plan to close 20 of 
Britain's 174 coal pits that were 
losing substantial sums of moaey. 
Twenty thousand jobs would be 
lost. 

The miners went back without 


“There seems to be every indica . ... , , 

tioh to the contraiy," a Wwn' ' »**«**“ rockets, which could 
diplomat said. “I am definitely of rea f h across •Be border, 
the view, and I think we all are, that A pattern of Lhe new Israeli lac- 

ihis is not going to break their spir- (Continued on Page 2, Col 6) 


industry Only about 90,000 miners M agreement on a major demand 

^ of abom 70Q » 
miners who were dismissed during 
tire strike for offenses ranging from 
assault to trying to steal a bag of 
coal to heat then homes. 

. The strike, which began March 
12. 1984, has cost at least $1.6 bil- 
lion. according to the government. 
Other economists put the figure, at 
about S3 billion, including import- 
ed oil and coal, police costs and lost 
revenues. 


But the co*l of the strike goe> 

beyond monetary estimates. 

it dominated a year of British 
politics. It served as an ever-pre- 
sent backdrop to other disputes 
and helped focus attention on re- 
cord 13. 9- percent unemployment 
and rich-poor, north-south divi- 
sions. 

It exposed Britons lo an almost 
nightly dose of TV violence its pick- 
ets and police clashed in scenes that 
unnerved the population and 
swelled the sense that something 
was very wrong. 

The strike split miners' families, 
as fathers went back to work white 
militant sons stayed out It split 
one venerable British institution, 
the miners, from .mother, the po- 
lice. 

At the outset, Mr. Scargill made 
w-hat is widely viewed to be a cru- 
cial mistake. He called the strike 
without a national ballot. About a 
fourth of all the miners, including 
45.000 or so in Nottinghamshire, 
refused to stop work without a 
vote. They continued to work and. 
in pan, because Mr Scargill could 
not command unity from his own 
union, virtually no other union 
gave hint support. 


U.S. Accepts 
Validity 
Of 'Nuclear 
Winter’ 


were still on strike before Sunday’s 
meeting, according to coal board 
figures. 

The back-to-work motion that 
won approval had been pul for- 
ward by the delegation from South 
Wales, one of the most militant 
striking regions. 

The events' will undoubtedly be 
viewed as a victory for the Conser- 
vative government of Prime Minis- 
ter Margaret Thatcher. She vowed 


The Message on the Dollar: Bring It Down, But Not Too Fast 



Pi-OYMKNT | 

-WZATIOVM | 

■TON SVUS’Hl 1 | 

iTcHMtn *■*’ 

jikiojtH iuhni?-** 1 - 1 

dhbag isms** ‘y 

fa*r£*x".,?y 


www pressed for clarifications of the ac- 
cord he bad signed. 

jaAUr^ He repeatedly refused to endorse 
u A.I. ^“explicitly Security Council Resolu- 
fljtfion 242, the UN document calling 
-jrTcwr the return of occupied temto- 
Bwgk^f^ries by Israd in exchange fw peace. 
JJ^^fThe resolution has bon endorsed 
a basis for peace by Israel. 
s-'flop-f-Egypt, Jordan and tire United 
I^'^tiCStates, but the PLO has rejected it 
“ rr ^because it refers to Palestinians as 
AUSrrefugees” and does not provide 
d«r- c ?# or . seu-deterimnation or for a Pal- 
j^bow*^atinian state.. * 

Asked whether he accepted Rcs- 
lution 242, which is i 
— ^T^ordaman-PLO accord, 

“We are committed to the 
^rtfi^greemenr ire signed and its mech- 

|n ^rnii^misms.” 

— . When pressed for an affirmative 
au w® ^ l Jr negative response, he referred 
^;us visitor to the text of his agree- 
i 'U'.r yffineot with Jordan. The accord says 
•"..'Jiis^poth parties accept “United Na- 
au p* |B l *nSions and Security Council resolu- 
„ li ^ions.” Asked why he was rdnetant 


killed in ambushes in the first three 
days after tire Israelis withdrew 
from the Sidon area on Feb. 16. . 

Since then, the Israelis have raid- 
ed dozens of villages in tire Shiite 
area at resistance between Tyre 
and Nabatiyeh. 

Tough new regulations have 
been put into effect, including a 
dusk-to-dawn curfew, a ban on cars 
carrying only a driver to protect 
against suicide bombers, and a 
warning that unattended cars 
parked by roadsides would be rou- 
tinely blown op. 

There were unconfirmed reports 
from some residents that the Israe- 
lis had at times tom up the Koran 
in mosques and made grain sup- 
plies unusable. 

Israeli officials, including De- 


By Peter F. Kilbom 

New Yai Tima Semce 

WASHINGTON —The week of 
the dollar is over. And in the imme- 
diate aftermath, it is dear that the 
world’s leading industrial powers 
have quietly agreed that the dollar 
musL be stopped. 

Their strategy showed itself with 
a vengeance in midweek after the 
dollar had registered one of its big- 
one-day gains in history, re- 
a marketplace view -that 
President Ronald Reagan would do 
nothing to bring it down. 

The Western nations sold dollars 
from their reserves — more than SI 
billion -by most accounts — and 
with that, it was evident that the 
adminis tration and its Western- al- 
lies were trying to move toward a 


common economic policy that 
would eventually bring the dollar 
into check. 

The scale of the governments’ 
intervention Wednesday appeared 
to come partly in response lo the 
statement of Paul A. Volcker, 

NEWS ANALYSIS 

chairman of the Federal Reserve 
Board, that previous interventions 
had been too small to ninTfff a dif- 
ference. 

With the West Germans in tire 
lead, the countries stunned the 
market with an overflow of dollars 
and provoked one of the dollar’s 
sharpest one-day declines in histo- 
ry- 

It looked like a bold move, and 


indeed it was compared with the altitudes toward the dollar and the 


rare and tentative interventions of 
the last few years. 

But $50 billion to $100 billion 
washes through the currency mar- 
kets each day, and to many of the 
market’s expats, tire intervention 
last week, by itself, could do little 
more than discourage another rise 
like Monday’s. 

“It would take $10 billion to $15 
trillion to count as a substantial 
amount,” said Roger Kubaiych, 
chief economist at toe Federal Re- 


future roles of toe economies that 
underlie major currencies. The lev- 
el of the dollar, the intervention 
said, has become politically unten- 
able. especially for the Reagan ad- 
ministration. 

Damage to such sensitive con- 
stituencies as farmers and many 
manufacturers is finally forcing the 
president to modify his lone-odd 
view that toe dollar should ride 
with the tides of the open market. 


cma Konoaun « mereaerai kc- ^ argument « WP™* also to incorporate a 

serve Bank of New York until Jan- u, e middle of last year Sat toe new wlhnmessio dpw fire UA 

uary and now at toe Conference ^ ^ ^ ^ knefidal in economy should it show signs of 


Board, which is made up of repre- 
sentatives of U.S. industry. 

More significant than the size of 
last week’s intervention was the sig- 
nal it sent of the changing offidal 


forcing companies to operate more 
effidentiy,” said Rohm D. Hor- 
mats, an economist at Goldman 
Sachs and formerly a top State De- 
partment economist in toe Nixon, 


by toe 
.Arafat 


l \ ‘i \ : state explicitly that he accepted 

«= >*" “ i suns fl®^^feesolmion 242, he responded!: 
! ’ is not an interrogation.” 

; Senior Jordanian officials and 

' jU 0 THT« l 3 r* fc MnBardt have asserted that 


KINS 4VA H h __ 



AfftORtt-'J •V" 

a*** •* "sy r 

h*V ■» •*T™ " 



Mr. Arafat criticized U.S. policy 
tire Middle East and what he 
galled the Reagan adminis tration’s 
v'l’blaiant bias” toward Israel 

He accused toe United States 


i#* 

mi lo#** 

i, ‘* 

WfW* !»l"*' 

ear f * Ail 1 k-' 1 . . 
w ,i vk.u ; 

*%?■/*:**;* 


,r 

I '« 


bpw 1 -* rr.lv, 

1 ,v 

l *- f * . , 
V ‘T T 

. V* 

Sk- 1 ' 4 iP 

„ 

v r ~; (i-* • 

»*■•* . 

'V'.'/.V 
T V*- 

M 1 i. v 


. . _ k :%->jgm:PLO accord was a “step" in toe 
“*.11 *“£Vighi direction and “10 percent” of 

^ A- Aat the PLO must do before the 
‘^^'^^■dministration would recognize it 
.“This is not a ‘step,’ " Mr. Arafat 
aid. “This is a strong platform, but 
United States is completely ig- 

1 Rather than encourage the 

^^FlO's latest move, he said, the ad- 
.... .■'Tnnisiration had rebuffed the orga- 
: ■ He said that Secretary of 

, ‘ -■ * Ueotge P. Shultz had refused 
Lobib Tern, toe 
observer at toe United Na- 


*** s< , - . 

: Jt* 

r -' 



i explain the 

• j^rd with Jwdan. 

™ M»d it was hypocritical of toe 

0 



iwua 


On March 7, 1965, state and county police officers in Selma, Alabama, 
stood three-deep near a Mack church to keep dvii rights demonstrators 


from passing. The 600 protesters were later turned back with whips, ' 
dubs and tear gas. The day became known as u Bloody Sunday.” 


Selma: Segregation Is Gone, but Integration Is Still a Dream 


By 


William E Schmidt 

Sew York Tima Service 

SELMA. Alabama — Karyn Reddick 
knows toe stories of that bloody Sunday, 
20 years ago, when about 600 dvd edits 
marchers woe turned back from toe Ed- 
mund Pcttus Bridge by tear gas and bull- 
whips and mounted sheriff's deputies 
wielding dubs. One cannot grow up in 
Selma and not know. 

But like toe rest of ha da ssm a i e s at 
Sdma High School black and white, she 
has a difficult time understanding how it 
ever happened. “Kids today, they’re used 
to toe way things are,” said Miss Reddick, 
a black teen-ager. “Try as you can, you 
can't believe that white people once treated 
black people that way. It seems like some- 
thing that happened long, long ago" 

On Sunday, hundreds of longtime aril 
rights activists returned to Selma to com- 
memorate the anniversary of that 1965 


confrontation, a moment that was seated 
onto the nation's conscience and helped 
lead, later that year, to the passage of toe 
Voting Rights Act that changed toe re- 
gion's political and soda] landscape. 

“What happened in Selma that day was 
the high point of the civil rights move- 
ment.” said John Lewis, an Atlanta coun- 

rihnan who, at the head of toe 1965 march, gatha 19 percent of the vote in the 
was baton unconscious on the bridge, cratic presidential primaries in Georgia 


example, 55 potent of all elective offices 
are now held by blacks. 

According to a report by toe Joint Cen- 
ter for Political Studies in Washington, the 
number of elected black officials national- 
ly grew from 1.469 in 1970 to 5,700 in 1984. 

And last spring, the Reverend Jesse L 
Jackson rode black electoral strength to 


“After Sdma, the South and the American 
political system were never the same 
again." 

Between I960 and 1980, for example, the 
number of black registered voters in 11 
Southern states more than tripled, going 
from 1.4 million to 43 mMon. In the same 
period, white registration increased as well 
but not as dramatically. ^ 

The new black voters have produced 
electoral victories for blacks. li the 10 
majority black counties of Alabjuna. for 


and Alabama, and 42 percent of toe vote in 
Louisiana, a primary he won outright. 

In many ways. Sdma, set on steep banks 
above toe muddy Alabama, is itself a dra- 
matic reflection of what has changed, and 
what bas not, in the last two decades across 
the South. Blacks and whites, who are 
about evenly divided among the local pop- 
ulation, have together experienced social 
and racial changes that used to be unthink- 
able. 

That is not to say there is noLstillradal 


animosity here, both spoken and unspo- 
ken. But race is no longer the most pointed 
issue in this city of 26,000. And neitoer-is 
the fear that was once a daily reality. 

The anniversary of the march seems to 
have attracted more attention beyond the 
city than it has in Selma itself. 

Local whites, who for the most part 
intended to stay away from Sunday’s 
march, view toe anniversary with some 
predictable weariness, if not hostility 
But even among many young blacks, 
there seems a curious indifference to the 
memory and meaning of what happened, 
and the events that are planned around it. 
“I just don’t know that much about it,” 
said Gwen Shoals, a black nursing student 
at the local community college. 

Many older blacks and veterans of the 
movement are troubled by toe lack of at- 
tention paid by young people in the South 
(Continued on Page 3, CoL 1) 


By Wavnc Biddle 

Sew York Tunes Seme 

WASHINGTON — The Penta- 
gon has accepted as valid a theory 
that nuclear war could generate 
enough smoke and dust to blot out 
the sun and cause severe climatic 
coding. 

The 17-page repent, issued Fri- 
day, was the military's first assess- 
ment of the theory advanced by 
scientists in 1983 saying that deto- 
nation of Qudear bombs could 
cause a “nuclear winter" around 
the planet, dropping temperatures 
as much as 75 degrees Fahrenheit 
(42 degrees Celsius). 

“Even with widely ranging and 
unpredictable weather, the destruc- 
tiveness for human survival of the 
less severe climatic effects might be 
of a scale similar to the other hor- 

David Lange beat Jerry FahveU 
in an Oxford debate on the mo- 
rality of mid ear arms. Page 2. 

rars associated with nuclear war." 
said toe report, “The Potential Ef- 
fects of Nuclear War on the Cli- 
mate." 

As pan of toe military programs 
bill for this fiscal year. Congress 
ordered Defense Secretary Caspar 
W. Weinberger to submit a detailed 
review and evaluation of the nude- 
or winter theory, including discus- 
sion of its strategic policy implica- 
tions. 

The report concluded that the 
theory had no great policy implica- 
tions for toe Reagan administra- 
tion, whose weapon modernization 
programs and quest for an anti- 
missile shield in space were still 
“fundamentally sound” ways of 
deterring nuclear war. 

Congress also asked Mr. Wein- 
berger to analyze studies from the 
Soviet Union or the nuclear winter 
phenomenon. In this urea, toe re- 
port maintained that Soviet re- 
searchers “have done little original 
work on toe subject and show no 
evidence of regarding the whole 
matter as anything more than an 
opportunity for propaganda." 

... - , In congressional testimony last 

ii u “«npIoy- year. Pentagon officials had indi- 

level and lactones begin to caied basic agreement with toe nu- 
clear winter theory, but held fast to 
toe policy of maintaining an arse- 
nal of nuclear weapons. 

In December, a committee of the 

(Continued on Page 2, CWL 3) 


Ford. Carta and Reagan adminis- 
trations. 

“But industries are now getting 
bun by imports through no fault of 
their own. like Caterpillar Tractor 
and Du PonL The question is. wbal 
pace of this adjustment is accept- 
able. That’s where we are today." 

The new Reagan strategy is like- 
ly to include a major intervention, 
in cooperation with its partners, to 
derail any sharp, future ascent of 
the dollar. 

It appears also to incorporate a 


growing faster than the 4-percenl 
annual rate that the administration 
has set as its goal for the years 
ahead. Faster growth would inten- 
sify credit demand, pushing up in- 
terest rates and, presumably, de- 
mand for dollars to invest in U.S. 
securities at the higher rates. 

And finally, toe new Reagan ap- 
proach officially acknowledges, for 
toe first time, a link between feder- 
al budget deficits and the strength 
of toe dollar. To gel one down, the 
other must come down, James A 
Baker 3d, toe new Treasury secre- 
tary, said a few days ago. 

Nothing, of course, says that 
such an ambitious policy will work. 
Previous efforts among the indus- 
trialized nations to synchronize 
their economies have failed. 

Ova the next year or two. infla- 
tion could reappear in Europe as 
toe new economic growth there re- 
duces 
mem 

push the limits of their capacity. 
The United States could slip into a 
recession next year, as many econo- 
mists expect. Inflation in Europe 
and flagging growth in the United 
States would force unwanted shifts 
in currency values that the coun- 
tries would be hard put to prevent. 

Still the message coming from 
the Reagan administration and its 
Western allies last week was that 
they seek only a modest decline in 
toe dollar's value, certainly nothing 
more than 5 or 10 percent over the 
next year, a drop that would barely 
erase the dollar’s 9-percent rise 
since December alone. 

The reluctance to allow a precip- 
itous fall stems from toe realization 
that the accelerating recovery in 
Europe and in the developing 
world has come to depend on toe 
profits earned from exports to the 
United States. 

“It would be a mistake lo believe 
that toe rest of toe world can afford 
a dollar that comes down too 
much," said Rudiger Dornbusch, 
an economist at Massachusetts In- 
stitute of Technology. “Europe 

(Continued ou Page 13, CoL 3) 


INSIDE 

■ General Bernard Rogers 
urged release of secret U.S. in- 
telligence photos in a coll for 
higher defense spending.Page 3. 

N.T. Rama Rao. toe leader in 
India’s Andhra Pradesh state, is 
pursuing a new triumph ova 
toe central government. Page 6. 

BUSINESS/FINANCE 

■ House of Fraser has received 

a takeover offer of £600 mil- 
lion. Page 7. 

TOMORROW 

Jean-Marie Le Pea and his far- 
right National Front party are 
having an unexpected influence 
on French politics. 








agrsjir? B u is s^Kis f iiiiiifiis mmusnm is i 


Page 2 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


Shultz, Ortega Report 
little Progress Alter 
Meeting on Relations 


By Jackson Diehl 

Washington Past Service 

MONTEVIDEO —Secretary of 
Slate George P. Shultz and Prea- 
dent Dan id Ortega Saavedra of 
Nicaragua, after meeting to discuss 
ways of reducing bilateral tensions, 
said they had made little progress. 

But Mr. Shultz said after the 
meeting Saturday that the United 
States still hoped for an improve- 


ment. in relations through the Cen- 
tral American peace efforts of the 


tral American peace efforts of the 
Contadora group of nations. 

“I don’t know that anything 
much has changed.” Mr. Shultz 
said at a press conference after the 
one-bour meeting with Mr. Ortega. 

In an earlier statement, be said 
Mr. Ortega had “reiterated the 
points that be has stated publicly 
before, and I stated again the ob- 
jective the United States and its 
allies in Central America have ad- 
vocated For several yean.” 

At his own press conference sev- 
eral hours after Mr. Shultz’s depar- 
ture, Mr. Ortega said that Nicara- 
gua had proposed a “new effort for 
peace” but that “we encountered a 
position dosed to dialogue” by the 
United States. Nicaragua’s over- 
tures, he said, “fell on deaf eats.” 

The talks, the first between Mr. 
Shultz and Mr. Ortega since June, 
came at the inauguration here of a 
democratic government in Uru- 
guay. 

Mr. Ortega said that he had pro- 
posed that “conditions were right” 
for a renewal of U.S.-Nicaraguan 
talks held until January in Manza- 
nillo. Mexico. 

However, Mr. Shultz said he had 
“made clear" to the Nicaraguan 
president that the talks between 
Harry W. Shlaudeman, President 
Ronald Reagan's special envoy, 
and Deputy Foreign Minister Vio- 


are about 8,000 Cuban advisers m 
Nicaragua, including approximate- 
ly 2400 military advisers. Howev- 
er. Mr. Ortega said Saturday there 
were no tome than 800 Cuban mili- 
tary trainers in Nicaragua, and the 
total number of Cuban personnel 
was less than 1400. 

■ Opposition Seeks Dialogue 

James LeMayne of The New York 
Times reponed from San Josi, Costa 
Rica : 

Nicaraguan opposition leaders 
published a joint declaration of 
principles on Saturday calling on 
Nicaragua's Sandinist leaders to 
open a “national dialogue” to re- 
solve the conflict that has divided 
the country. 

The five-page declaration de- 
mands sweeping changes in the 
Nicaraguan government and army, 
as well as the dissolution of the 
National Assembly leading .to new 
national elections. 

“If on April 20, 1 985, the nation- 
al dialogue has not begun, nor ad- 
vanced in an evident and substan- 
tial way ” the document says, “the 
Nicaraguan resistance will defini- 
tively suspend it, ending the possi- 
bility of a peaceful end to the na- 
tional crisis.” 

Opposition leaders here said the 
document fell short of an agree- 
ment to form a govemmem-in-ex- 
ile. But some suggested that it 
would serve as the basis of a future 
accord to create a united opposi- 
tion front if the Sandinists do not 
open negotiations. Such a united 
front, they said, would stand a 
good chance of attracting funds 
from democratic governments and 
the U.S. Congress. 

Signers of the document empha- 
sized that it represented the first 
time that so many Nicaraguan exile 



Troops Ring WORLD BRIEFS 

Nkomo’s City - ~ — 

^ D 1 Space Shuttle Mission Is Canceled 

Uf Jtftllawayo WASHINGTON {Remen) — This week's mission of the US. so* 

* shuttle Challenger has been canceled because of technical difficult iesTtf 

T„ National Aeronautics and Space Administration announced Saturday 

in / tlluDoDW C A NASA spokesman said the flight, which was scheduled for Thur 


i » n*tt 


Space Shuttle Mission Is Canceled 


WASHINGTON { Reuters) — This week's mission of the UA $t»t 
shuttle Challenger has been canceled because of technical difficult iesTt? 


.. 


Compiled hr Our Stuff Front Dtfpauhcs systems m a 

BULAWAYO. Zimbabwe — 


day. was postponed indefinitely because of problems with the electric 
systems in a U4. communications satellite that the shuttle was m 


ras scheduled for Thur 
tblems with the electric 
t the shuttle was to ha* 


the outskirts of the southern aty of 
Bulawayo over the weekend ih a oversees the N. 
wide search for arms and anti-gov- • • o 

eminent dissidents. 

A Zimbabwe government 
spokesman said the security sweep, i*AKia{wr) n 


A budget. 


Nimeiri Said to Negotiate With Libya 


spokesman said the security sweep, PARIS (WP) — Major General Gaafar Nuntin. president of Sudan, 
the fourth in three years, was tem- conducting seem, high-level talks here through emissaries aimed 
porary and was aimed at lessening “ding his feud with Colonel Mourner Qadhafi of Libya, Sudane 
political violence before general opposuion source said. , 

rfee lions in June. At least two per- Thc source said Saturday that the talks took place here last we, 

cfwic uwr* billet rtnmio in between Baha Idriss. General Nimeiri s presidential adviser, and Ahnu 


The Reverend Jerry Falwell, left, and David Lange, right, with Roland Rudd, Oxford 
Union {Resident, before debating whether “nuclear weapons are morally indef ensSrie.” 


sons were killed during clashes in between Baha Idriss. General Niraems presidential adviser, and Ahnu 
the townships the weekend before. Qadhafi. a cousin or the Libyan ruler. Their outcome was apparent 
Army sources told United Press inconclusive, but their existence underlined General Nimeiri's efforts 


International that the operation sa vc his government, which is plagued by aimed rebellion, drought u 
was intended to flush out anti-sov- an economic crisis worsened by a suspension of major aid from t’ 


Lange Outscores Falwell at Oxford 


was intended to flush out ant 
eminent rebels who support J 


Nkoma^to^ng opposition fig ^ j n ^ arranged by Adnan Kbashoggi. a Saudi busincssm 

The province of Matabeldand, who iQ «cem months has become a key adviser to the Sudane 
where Bulawayo is located, is the government. They said Genml Nimem offered to silence an an 
power base for Mr Nkomo's party Qadhafi radio station south of Khartoum and to hand over exiled Li by, 
the Patriotic Front. ’ dissidents if Libya stopped its financial and military aid to a Sudane 

The region has been struck by rebel group, the Sudanese People's Liberation Movement, 
violence between rival groups from _ — 

U.S. ^Modified Pershing-2 Exercise 

Mugabe. Tensions have increased FRANKFURT (AP) — The U.S. Army has modified plans for 


ua United States and the International Monetary Fund. 


The sources said last week's meeting and an earlier one in January, al 


By Barton Gelman 

Washington Pm Service 

OXFORD, England — Prime Minister David 
Lange of New Zealand, embroiled in a policy 
dispute over nuclear weapons with the Reagan 
administration, has been voted the winner of an 
Oxford Union debate agains t the Reverend Jerry 
Falwell, a staunch Reagan supporter. 

A lay Methodist poacher, Mr. Lange won the 
approval of the audience Friday night on the 
subject that “Nuclear weapons are morally inde- 
fensible.” The vote was 298-250. 

Mr. Lange, who is making a diplomatic tour in 
defense of his policy barring nuclear-armed and 
nuclear-powered ships from New Zealand, used 
the debate to answer critics in Britain and the 
United States who say he threatens the Western 

allian ce. 

“I feel safer in Wellington than I ever could in 
New York or London or Oxford,” he said. 

Mr. Falwell whose earnest anti-Cbmmumsm 


KOnaifl Keagans special envoy, fime that cn man y Ni t-arapimn 
and Deputy Foreign Minister Vic- leaders, wine of whom have been 
tor Hugp Jinoco of Nicaragua quarreling for years, had agreed on 
could only be continued as a sup- a joint declaration of DoliticaJ nrin- 


was greeted with repeated jeers by the crowd, said 
ihat Mr. t-anof was defending unilater al dimrma- 


port” to the Contadora process 
seeking an overall peace settlement 
in Central America. 

Mr. Shultz said there was “a rec- 


a joint declaration of political prin- 
ciples. 

Exile leaders of divergent politi- 
cal views signed the declaration, 
including Arturo Jose Cruz, Pedro 


ogmdon all around that the center Joaquin Chamorro, Alfonso Ro- 
of negotiations must tbe Contadora bdo Caliejas and Adolfo Calero 


process” and that “any next step 
should be in that process.” 

Mr. Ortega responded that “the 
United States has not displayed a 
willingness to make Contadora. 
work; on the contrary.” 

■ Nicaragua insists that it has, 
both on its own and in response to 
U.S. pressure, cooperated with 
Contadora. 

Mr. Shultz also said the United 
States was glad to bear of the San- 
dinist government’s plan to release 
Jose Urbina Lara, a dissident who 
sought asylum in the Cmta Rican 
Embassy in Managua and was ar- 
rested by the Nicaraguan authori- 
ties. The incident, and Costa Rica’s 
subsequent refusal to meet with 
Nicaragua, caused the cancellation 
last month of a scheduled wearing 
of Central American countries in 
the Contadora process. - 

Mr- Ortega confirmed that Mr. 
Urbina Lara would be released 
soon in Colombia under an ar- 
rangement with President Bdisario 
Betancur of Colombia, which is 
one of the four Contadora coun- 
tries, along with Panama, Mexico 
and Venezuela. 

In his statement Saturday morn- 
ing. Mr. Shultz said be had reiterat- 
ed the U.S. insistence on four con- 
ditions for improvement of 
relations with Nicaragua. These in- 
clude the reduction of the aze of 
Nicaragua’s Army, the withdrawal 
of Soviet bloc military advisers, an 
end to Nicaraguan support for rev- 
olutionary movements in Central 
America and a commitment by 


Portocarrero. Mr. Cruz, who is 
highly respected in Congress, is the 
principal civilian opposition lead- 
er. 


That Mr. t -a ngf was H»»r«nding unila teral disarma- 
ment by the West 

“It denies us any freedom to defend our values 
from a Marxist-Leninist group that believes it 
must save the world by dominating it,” Mr. Falwell 
said. 

“May Western civilization and its values be 
morally defended?” Mr. Falwell, leader of the 
Moral M^ority, said. “That is the question here 
tonight.” 

There were hisses and cries of “No! No!" 

“To me," he said, “it is very immoral when we 


look at the slavery of Communist domination, not 
to guarantee to my children that they will have the 
liberties which we now enjoy." 

A union debate is a highly stylized affair in 
which st uden ts may “intervene” in any speech and 
in which debates are won and lost by swiftness of 
wit 

Mark Gorenflo, a Rhodes scholar from the U A 
Naval Academy, went to the lectern and demand- 
ed u> know how Mr. Lange couki justify remaining 
a member of ANZUS, the Australia-New Zealand- 
United Stales alliance. 

“I’m going to give it to you if you bold your 
breath a moment” Mr. Lange said. “I can smell 
the uranium on your breath,”ne added, to laughter 
from the galleries. 

“We do not shrink from our responsibilities,” 
Mr. Lange said, citing New Zealand’s military 
contribution to the Western allies from World War 
1 to Vietnam. “But the fact is, we do not choose to 
be unila teral-armers.” 

Another student accused Mr. Lange of hypocri- 
sy and asked whether New Zealand would be 
prepared to live without the U.S. nuclear umbrella. 


party of Prune Minister Robert 
Mugabe: Tensions have increased 


there recently during campaigning Pershing-2 missile exercise in West Germany because of an accident 

r .i * i— t. .i:.L ik— 1 1 C nrmu cnnlwiM, — : 


for the June elections. 

Mr. Nkomo charged Sunday that 
the dampdown was an deed on 


January in which three U.S. soldiers were killed, an armv spokesman sai 


“Scheduled training has been modified pending the results of I’ 
irestieafion" of the Jan. 1 1 accident near Hcilbronn, Major Midu 


.* rv« 


the dampdown was an deed on investigation” of the Jan. 1 1 accident near Hcilbronn, Major Micha 
stunt ainwri at coerdng his sup- Griffon said Saturday. He was commenting on an article in Der Spies 
porters into voting for the govern- which said that the exercise, scheduled for March 4-14, had been raff 
meat. off. He would not confirm the dales given by the magazine and refused 


added, to langh ter He said in Harare that such oper- go into details on the exercise. 


“Not only are weprepared to do without it,” Mr. 
Lange said, “we refuse it, and we specifically say 
we do not want to be defended by nuclear weap- 
ons.” 

A student asked how Mr. FaiwdTs disdain for 
the Communist worid could be squared with his 
Christian morality. 

Mr. Falwell reeled off a list of Moral Majority 
projects in the Eastern bloc and said: “I would ask 
you. are you a God-fearing Christian? I would ask 
you. where arc you doing your work?” 


Kyprianou and Denktash Say U.S. 
Could Speed a Solution for Cyprus 


By Henry Kamm ary. is eager to bring about a sec- minister, Andreas Papandreou, of 

Nets York rums Service ond round of talks. Mr. Denktash preventing a solution in order to 

NICOSIA — Greek Cypriot and ruled out new talks before the sum- give weight to charges that there 
Turkish Cypriot leaders have indi- tner. however, saying he would be was a, Turkish expansionist threat- . 
rated that the United Slates could busy until then consolidating the ■ Kyprianou Urged to Quit ; 


Walesa Calls 
For Protest on 
Food Prices 


give new impetus to the search for a structure of his self-proclaimed 


solution to the Cyprus problem. state. 

Talks at the United Nations un- Mr. Denktash proclaimed an in- 
der the auspices of the secretary- dependent, separate Turkish re- 
general, Javier Perez de Cuellar public in 1983. It was recognized 
broke down in January. only by Turkey. 

'’iturday, President Sovros He said that concessions he had 


eraied their demand that Mr. Ky- ^ whcre ht u-oAs K the labor 
prianou resig n. The Associated ^9^ wacte ^ *° demonstrate its 
Press reported from Nicosia. discontent with food price in- 
The demand on Saturday reaf- cr ® ases - 


On Saturday, President Spyros ““J concessions be had rirffied a 23^2 vote on Feb 22 in ’ Increases ordered by the Polish 

Kypnanou said m an interview: I offered to make the January Met- ^ ^ Ky _ government in the cost of staple 

whalhecaadoalonc - He m Tvi°?!2i«iT rC d S d ' lh prianou for his handling of I^i foods, including bread, dairy prod- 
needs the support of governments TbeLegislaLive Assembly, the j anmr y s meeting wjJfiMr Denk- “ d “aTwall take effect Mon- 
dial ran influence Turkey. The Turkish Cypnot parliament, is ex- ^ y ^ day in the first of three phased 

United States is in a better position peeled to finish drafting a coostitn- a 1 b>_. j .l _ 1 1. r .1 inrm«K 


United States is in a better position pected to finish drafting a constitu- Also&nmtav rh* i-,,!-- nf th* increases. 

than the others.” r opposition in Greece, Constantine ' n “ bicarases are the first since 

*?*? interview, Rauf for the Turiosh Cypnot presidency the censme Fcbl ^ I9M. The government 


Denktash. leader of the Turkish are to be held. Althou 
Cypriots, said: “All the actors play strong oppoation, Mr. ! 
to the U4. Congress.” expected to reedve a new mandate. 


vote had left Mr. Kyprianou with dropped" earlier plans to impose an 
no option but to resign. unpopular across-the-board m- 


But, he added, ‘T cannot afford Parliamentary voting will follow in 
to have Turkey punished. I must June. 


help the only savior of my people at The Greek Cypriot view, which 


all costs. 


is shared by some diplomats, is that 


Managua to interna] democracy. 

Mr. Shultz also expanded U-S. 
criticism of several conciliatory 
measures announced by Mr. Orte- 
ga last week, including the planned 
reduction by 100 of the number of 
Cuban advisers in Nicaragua and a 
pledge not to acquire further new 
arms systems. 


Mr. Denktash was speaking of Mr. Denktash is more inclined to 
the Reagan administration’s sue- consolidate his secession than to 


cess in persuading Turkey to pre- gb* anything more than Up service 
vail cm him to adopt a more concO- to the effort to find a federal solu- 
iatory altitude toward the Greek tioo. 

^ .t . I « • 


Friday and said that the collapse of 

the summit was entirely the result . - » 


The two parties censuring Mr. 


against the increases. 

The banned trade union raDed 


Kvnrunni wptp nrn. fl/Jcrm, uuuc uiuon cauca 

Cypriots. “The gist of the problem is Democratic Rally, which has 11 

The eventual goal is to makepos- whether the Turkish government seats, and Akci, the pro-Moscow 

sible the creation of a federal state bas taken or not the political deed- Communist party, which has 12 ^^^L.^ o !^ :t0neS ent atcad 
that would end the division of the for -a reasonable sohition of seats in the 35-member legislature. stoppages, 
island. The division was com- the Cyprus problem,” Mr. Ky- Both parties argued that Mr. Ky- .The govexnn 
pounded by the Turkish invasion prianou said. “The basic decisions prianou, as the leader of the small the increases, w] 

of 1974. are taken in Ankara." Democratic Party, a centrist firoun. ^ roni a . ooppro: 


“The question is how many Cu- 
bans are there there," Mr. Shultz 
said. “We compute that if they have 
100 Cubans leave by the end of 
1 985, it would take until the middle 
of the next century for all the Cu- 
bans to have left. 

“The statements of the Nicara- 
guans," he said, “raise more ques- 
tions than they answer.” 

U4. officials have said their in- 
telligence estimates show that there 


rats in the 35-member legislature. 
Both parties argued that Mr. Ky- 


The government has defended 


of 1974. 

Administration pressure on Tur- 


prianou, as the leader of the small theincreases, which it said emerged 
Democratic Party, a centrist group, froin a . compromise with officially 


He rejected a parallel view ex- no longer represents the majority re 9°S n * ze ^ trade unions Those 


key owes its effectiveness to the pressed by Mr. Denktash, who said of the electorate. They were refer- “^0“ have enrolled five million 
argument that as long as Turkish the talks at the United Nations had ring to the collapse of an electoral . Since Solidarity was sup- 


troops occupy northern Cyprus failed because the Greek govern- pact with Akd, which had helped P rcss ®d under martial law in 1981. 
and protect the secessionist state had wanted them to faiL Mr. Mr. Kyprianou to win a five-year Mr. Walesa said the Solidarity 
created by Mr. Denktash in 1983. Denktash accused the Grade prune term in 1983 presidential elections. leadership wanted rank-and-file 



Congress will resist efforts to in- 
crease military aid to Turkey. 

“We are very pleased at the con- 
tinuing active interest of the United 
States,” Mr. Kyprianou said, add- 
mg Pat be had regular correspon- 
dence with President Ronald Rea- 
gan. “He is definitely giving advice 
to us.” Mr. Kyprianou said. “He 
says he also gives it to the other 
side." 


Pentagon Accepts Validity 
Of 'Nuclear Winter ’ Theory 


Mr. Kyprianou to win a five-year Mr. Walesa said the Solidarity 
torn in 1983 presidential elections, leadership wanted rank-and-file 

militants to organize any protests 

on Monday. He added: “II a true 
T/V I* J*. impression is to be gained of how 

ptS V (UMtitY working people feel abort the state 

t J of things, rt must originate from the 

Enter’ Theory tavt ^ m 

_ _ • not to give in to the galloping de- 

Richard P. Tureo, a physicist at dine in their Hvmg standards and 
R&D Associates in Marina del lack of hope for an authentic re- 

P U ilifAmig* T\e Hojoii 12 m 


Mr. Kyprianou avoided disdos- 
ing what Mr. Reagan bad advised. 
“The United States has the leverage 
to exercise pressure,” he said, but 
be added that none had been exer- 
cised on him. 

Mr. Kyprianou, who is feeling 
pressure from a majority in the 
Cypriot House of Representatives 
over the failure of the talks in Janu- 


(ContiBned from Page 1) Richard P. Tureo, a physicist at dine. 
National Research Council issued Afocrams in Marina del lack < 

a 193-page report supporting the California; Dr Owen B form, 

theory though ra.uinnmy thTt H*. Toon t Dr. Thomas Ackerman and Mr 


theory, though cautioning that de- u» c lia u «« 

tailed predictions of climatic cool- 1^- Ja^cs B. Pollack of the Nation- other protests last 

mg were impossible to make. Tbe ^SSS^mdtSlSSStli 

Pentagon report also stressed “very Warsaw factories and in shipyards 

little confidence in the near-term by Dr. Carl Sagan of Cornell ^ Gdansk and Szczecin. It was not 

SratiS^ ;tlhiSpbeil0aien0n theorized that the cl^how many mra were involved 

Jacnh aw senior detonation of nudear warheads The pnee of a large loaf of bread 


Mr. Walesa said there had been 


him. ability to predict this phenomenon 

.yprianou, who is feeling quantitatively” 
from a majority in the Jacob Scherr, senior staff attor- 


The price of a large loaf of bread 


iot House of Rraresematives ney for the National Resources De- a force of 5,000 mraatons, 

tbe failure of the talks in Janu- Icnse Council, called the new Pen- ^ ujvaleni blast of 5.0W mil- “d nee by just under 50 

.tagon report a “superficial bon tons of TNT, would ignite so P™ ^ 9“ Monday. A second 

1 — v. *• f. ^ _.u;. manv fires in aues and forests that round 01 increases wul affect eas. 


EuRoraAN University of America 

© 

SAN FRANCISCO 

My B. A. 


whitewash.” The council is a public niany fires in aues and foresta that ^ ^ ^ 

interest group in Washington that ^ loke “ d *»t would block out 0031 deematy in April The 
helped lobby for the legislation the ^ for lowering tem- of “eat and remaining foods 


mg for ihe Pratagon peraturra by perhaps 75 d^rees, wiU go up in June, 

astead of offering the detailed 9 1 “C Northern Hemisphere The new propos 


Instead of offering the detailed lirsi 111 106 Nortnern nemisphere 
analysis of science and policy is- and then _ southward I as the smoke 
sues expected by Congress, Mr. ^ . . 


Scherr said, the Pentagon had 


■st m the Northern Hemisphere The new proposals also include 
id then southward as the smoke sharoly increased pensions and 
read with the wind. family allowances to cushion the 

Tbe authors said land and water impact of the increases on the old 


“conveniently ignored” major de- wpuld freeze, causing harsh global and the low paid. 


MASTER OF BUSINESS ADMINISTRATION 

Specialized in International Business 

AMERICAN MANAGEMENT STUDIES 

Innovative academic approach to U-S. 
business practices. Intensive eight-week 
certificate programs offered throughout the year 

PROFESSIONAL PROGRAMS - SUMMER 1985 

American Business Law - Financial Management 


merits of the nudear winter debate, effects unrelated to radiation haz~ Stanisbw Onset miniwer 
The nudear winter theory was ***: .Jf. upshot, they argue*. 
first proposed at an international would ** «he extinction of a sigmfi- 


conference in fall 1983 by Dr. 08,11 


ion of the earth’s ani- 


Stanislaw Gosek, minister of la- 
bor, defended the authorities on 
television on Saturday against 



UNIVERSITY 


WI UIU V41U4 d UU” _ , , „ I ■ I , U — 

mals and plants, induding possibly that union demands 

the h uman race. J had been ignored, saying the gov- 

— enunem had made “a major step to 

xi n n « . meei unions halfway.” 

HunguyPlansBeaulyftize He aid n mc of the d« orgi- 

bnued Pros huemaitonai n«l Sets Of price pit^JOSals. which 
BUDAPEST — Hungary is would have raised the cast ofliving 
spMsorms «s first beauty contest by up to 42 percent, had been 
since World War II, an advertise-! imposed. He added that the in- 
“ent m the newspaper Magyar creases had been staggered as the 
Nemzet said Saturday. unions had requested. 


E.U.A., Lone M ountain Campus, 2130 Fuiwn Si., Sao Fnmdxg CA 94117 
tkalk "* - WonmUta Carter taeEmpt 
31 Galene hlowpensier, Paris 73001 {France). TeL ■ (t) 296 4511 


BAOCIORS hUSTE ITS OfipOCt GRATE 
Send cteMad resumt 
te ufrww BfcHon. 
metne WESTERN UMVBSnY 


Hungary Plans Beauty Prize 

United Pros international 




ations had only beat conducted in Major Griffon ts spokesm. 
Bulawayo. He said the exercise opoates one erf the msbing- 
amounted to “inhuman and de- near Hdlbronn. in souther 
grading treatment” of the city’s res- caught fire and burned Jan. 1 
idents. The army said then that lh 

The security forces encircled the during a routine exercise, 
townships before dawn Saturday, 
putting up roadblocks on ail roads 3 Arm enians 
and carrying out random searches, ^ 

according to residents. PARIS (AFP) —Three At 


Major Griffon is spokesman of the 56th Field Artillery B ri gade, win- 
teraies one of the Pcrshing-2 batteries stationed in Schwflbisch Gmur v . 


near Hdlbronn. in southern West Germany. .An unarmed Pcrdun) 
caught fire and burned Jan. ! 1. killing three U.S. soldiers and injuring 
The army said then that the missile’s fuel ignited and burned rapk 


3 Armenians Jailed for Orly Bombing 


according to residents. PARIS (AFP) —Three Armenians accused of a July 1 983 bombing 

Helieomers and liaht Dianes °^y airport, in which dght persons were killed and 54 injured, w 
JtaSwhh imprisoned Sunday for toms ranging from 10 years to life by a court 

patrolling overhead at dawn, tdl- ^sParis suburb of Crcidl. 

^ peopte that movement in and . 9 31 * 8 Synan was found gulty of tang ■ 

out ofthe townships was controlled b 9 mb at iur P on ^ .«* V™ 3 ! rfe sentenct Soner Naytr.24, ^ 


mg peopte that movement in and . f 9arb.dtaiL 31. a Syrian was found gully of bnnng ■ 
out ofthe townships was controlled bomb at the aupon and j-as given a Mesaitence.Soner Naw.24.7t 
and advising them to stay at home, allegedly made the bomb, was imprisoned for 15 years, and Oham 
... ' , . Semena. 24. for 10 years. 

Mr. Nkomo saw he had uavded During the 1 1-day trial Mr. Garbidian denied that he was the mljL 
to Bulawayo early Samrday but c hief ^ France of the Armenian Secret Army for the Liberation 
reached the aty after the mrntary Armenia, the most active of the Armenian groups whose campaign 
operation had begun mid had not terror ^ Europe against mainly Turkish targets over the past decade 1 
been allowed through thc cordon to killed more tlran 40people. 


reach his home. 

“I see this as a way of demoraliz- 


ingihTm£ Plan Is Set to Save UN Farm Agency 

fore die elections so that They .will ROME (NYT) - Representatives of Western countries and the 


Reuters 

WARSAW — Lech Walesa; 
leader of the banned trade union 


The two majority parties in the Solidarity- said Sunday be would 
House of Representatives have reit- join protests at the Gdansk ship- 


vote for tbe government. This is an 
election stunt and inhuman and 
degrading treatment,” be said. 

The government spokesman said 
there had been no arrests and no 
reports of violence in the operation. 

During a security sweep through 
western Bulawayo two years ago. 
Mr. Nkomo went into biding be- 
fore fleeing the country for five 
mo n t h s , saying he feared for his 
life. 

Thoe were some reports that ci- 


producing cations have agreed on the outlines of a plan designed to 1 
the United Nations agency that helps farmers in the Third Worid. 

The agency, the International Fund for Agricultural Development, . 
been threatened with bankruptcy because of a decision by the Organ 


tion of Petroleum Exporting Countries to cut its conrrihiiti.mt. aiMl 
angry reaction by the United States. The agreement was reached Fric 


The proposed agreement, which still requires formal approval hi 
United States, would accept a lower OPEC contribution to a s» 
budget 

Artificial Heart Patient Has Surgery- 


■ -,vZ 


Thoe were some reports that a- LOUISVILLE Kentucky (API — Bleeding in the chest of Mura 
vilians were beaten during Satur- Haydon, the third recipient of an artificial heart, was controlled..*. ' 
day’s operation, but other reports surgery, and small amounts of blood draining from the area mi Suft-Jl r[ j J | J 
said that for tbe most part the oper- were “mostly associated with the operation.” a hospital spokesman s 
arion appeared to be orderly. More Dr. William C DeVries stitched up a tiny hole in Mr. Haydon’s ri- •• . 


Vlllia, 


anon appeared to be orderly. More Dr. William C DeVries stitched up a tiny hole in Mr. Haydon’s ri 
than 4,000 soldiers and police offi- atrium on Saturday, stemming leakage that had begun Tuesday w 
oers were estimated' to have taken lines monitoring the plastic and metal heart were withdrawn, said I 
part. (NYT, Reiners, UPI) Irvine, director or public relations for Humana Iiul, the parent cotpi 

tion for Humana Hospital Audubon. Dr. DeVries, the implant surge 

decided that Mr. Haydon needed additional surgery after X-rays 


rin/for crease ***** month under pressure 

from the i«al trade atafSI 


Israel Raids also detected decreased breathing caused by (he fluid, Mr. Irvine sai 

Mr. Haydon, 58, was alert and passed a restful night following 
Vill o rm operation after doctors gave him medication to help him sleep, Mr. In 
Dilute T 1 1 loHC said. His vital signs were normal and he remained in critical but str 
” condition, he added. 

(Continued Horn Page 1) 

?&*ZS?iSi£5ES 1x311 Sa J rs 11 Is Releasing 31 Iraqis 

bio-language newspapers that have BEIRUT (UPI) — Iran said Saturday that 31 Iraqi prisoners of 
local correspondents in the south, wou ^ be released from camps and flown to Ankara on Monday, 
from interviews with refugees from _ Tehran radio said a team of doctors headed by the director of 
the raided villages mid from tbe Juriri sh Red Crescent Society had exa m ined Iraqi prisoners in Tet 
accounts of a few Western journal- . . 

ists who have manayri to sBp Prime Minister Mir Hussein Moussavi said last month that Iran wr 

through the Israeli tines. release all crippled and ill Iraqi prisoners from Iranian camps. A Un 

Generally, tbe Israelis surround Nations report has accused both Iraq and Iran of mistreating prisono 
the villa ges , som etimes for several 54-month Gulf war. The report said there were more than 46,000 1 ' 

days, preventing people from en- prisoners in Iran and more than 9,000 Iranians in Iraq. 


Saturday showed a pool of blood building up in his chest cavity. Doci 
also detected decreased breathing caused by (he fluid, Mr. Irvine sai 


■V 


accounts of a few Western journal- 
ists who have managed to sKp 
through the Israeli tines. 

Generally, the Israelis surround 
the villages, sometimes for several 
days, preventing people from en- 
tering or leaving. They move into 
the villages shooting into the air 
and order all the men to assemble. 

Houses suspected of containing PARIS (UPI) — Five crew membera of a French militai? trans 
weapons are blown up or bull- plane carrying food to famine victims in northern Ethiopia have l 
dozed, and dozens of people are taken hostage by anti-government rebels there, the French Def 
taken away under arrest Ministry said Sunday. 

In some villages, according to The kidnapping was believed to mark the first serious interferenc 
local resdails, the Israeli troops guerrillas m Eritrea and Tigre of the international food shuttle 
have npped up the Modem holy starving Ethiopians in that area. 

book in the masques. At times they The ministry said the crew was taken hostage by rebels on Sunday 
hare also taken various lands of Lalibela, in Wollo province, about 186 miles (298 kilometers) not 
gram that the villagers i have stored Addis Ababa. Paris radio quoted French diplomats in Addis Abab 
to <any them through the winter saying the crew had been seized at the airport therejust after landing 
and mixed them together so they eight and one-half tons of food. Rebels carrying guns surrounded 
cannot be used, villagers said. plane and took the crew to an unknown rlestinniinn itininmMe c*ir 


French Crew Abducted in Ethiopia 

nan to mw " 


The gram cannot be replaced in 
the isolated viDages at this time of 
year. 

“They went to the mosque, and 
first they cut the-pages out of die 
Koran and then they put their 
boots on it,” said Suheiia Kiser- 


plane and look the crew to an unknown destination, diplomats sak 


wani. who fled die vfllage of Mail- -ardboard box. A statement found in Athens claimed response bilin 
soun near Tyre with her three small Jie bomb on behalf of a hitherto unknown group natrwt after Chn 


Bomb Defused at Embassy in Athen 

ATHENS (Reuters) — Police defused a small bomb found outside 
West German Embassy in Athens after telephone tipoffs to G 
lewspapera. 

Tbe half-pound (250-gram) device, found Saturday, was packed is 
ardboard box. A statement found in Athens claimed rcsDonsibtiin 


duldren after an Israeli raid last Kassimis, a Greek shot dead by police during a raid in 1977 
w “£: ... , . installations belonging to the West German company AEG. 

“The Israelis went to rach house The statement said the group had links with the West German 
and searched rt, she said. Where Army Faction, the French group Direct Action and Belgium’s figb 
we had made supplies lor the wm- Communist Cells, which haw been responsible for a series of attacks 
ter, they mixed everything togeth- year in Europe. European Community governments hare agreer 

er * . . . cooperate in efforts 10 combat what they say is a coordinated camp 

She added: “It s not like a aty by leftist guerrillas, 
where you can go to the store. The 

peopte are hungry now." 1~, L n j 

Mrs. Kiserwaui spoke in an in- J 1 OF LilC JK.CCOFU 

A pmran sbo t and killed a police sergeant Sunday as he arrived 
aimori Her 1 aimnni «mnnnrted ^ oman Catholic monastery in Belfast to attend Mass with his wife 
52S JJL son. Who were not injured, pofice said. ft 

similar ones in local newspapers. A Libya,, g,,,! juQed his jewelry store in Rome Fr 

night. Police said Saturday that they suspected a political motive bee 

. .. . . _ gold and a large amount of money were left untouched in an « 

Australian Aide on Asia Toot safe. 


For the Record 


Australian Aide on Asia Toot 

gotten A high-level Sonet delegation led by a Politburo member, Vladira 

MELBOURNE— Foreign Min- $bcherbitsky. left Moscow on Sunday for a visit to the United States, 
ister Bill Hayden of Australia left Sbcberbitsky. the Communist Party leader of the Ukraine, is schedul. 
here Sunday on a tour of Southeast mect wlh Prcs,denl Ronald Reagan. r 

Asa aimea at finding some solu- A test to detect antibodies to AIDS, the acquired immune defici 


tion 10 the sU-rear-dd Cambodian syndrome, in donated blood was approved Saturday by thc U.S. gm 
conflict. Mr. Hayden wiD visit Ma- raenL Tbe Health and Human Services Department said the comme 
laysia. Singapore. Vietnam, Laos *«* would enable the destruction of blood from donors who had 
and Thailand. exposed to the virus. ( 









INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


Page 3 


•ssjon I s 




”>i«\ K\;iuNc„r" " Ls 'ch.srf’i 

H>»UJw-o.iinr.l, Wl 
*"**111 wvtc It. I, irt | , ‘‘ rn anj p 

XT' '-fessS 






««W4liia.,u N 

mu ilcrc " uuri 

**M\ Muank t ^.uiiuY, '?>*: 

.iaj that the c.*IK% , . ^ 

■Fjl Niijjcii i\ pif. . i | s ’ k Plaiv i^. 
l-tbldii ruler Ihtv Ill,al ' 

’tenee uinirtlmnl t ’ '' Ulc,,m c 

"fti U " 1 '*^■11, > 
ffiUtMnul Mo,, cl . ir ‘ x |.^ rtla i"r jjj, 
A smarting, i 1U j itn “ ,,d 

^ h L Adn ’ ln ^ha..h l n^ d ‘J eu 't 

■as k\me a k n 

K™val Nimcin * fci 

h . uf Kh.ut^, m and ^ 
J its fittaikial anil m.tn w<r< * 


1’ Pershinor-2 E\>* 

■Prsssari* 

H accident near Hcilhrf, nn £ 

* Was Mmni.mi. n .. * n ' U£| 


1 was coni mem ms ,. n Jn m, l ~ >i 

^hcJuk-dforMarehai^ 

nun of the 5nth Field Arullcn v. 

Galleries, stationed m 

ern West Germans. S* 
vHA.ll.nf.lK.TLls.jJS: 

(he missiles tuel umicd 

Tailed for Orlv Bool 

Armenians jcoihs! «>i j Ju|\ jq^L 
jjit persons were killed and 3 j * 
ms rang.mii from Ii» scars toli[ c ^ 

Hi a Syrian, w.i> found guilts d> c 
® lti vc ’ n •* «»}e sentence SowNa- 
•. was tmpnsoned f.ir 1 > sears.* 

Mr. Ciarbidun denied ituu he 
irmcnian Secret Arms for ihr ifc 
irf the Armenian equips whoa c 
Minlv Turkish :.irec;s •■ur the paae 

e. 

Save I'N Farni.\fle 

fesciU.it ns's Wc.'iern rountnai 
ytted on the mi: lines . >i a plamtef 
.*y that help' farmer - in the Third l- 
iKHUtl Fund j.«r v-jMilni r jl [brtc 
krupjes heejuse .<! a t tension tn i& 
jM C’miniiitfs ti’ i:it us lomnlwE 
leu Stales II u- .ij:rec mcni w as react' 
at which MtH regimes mnrd apes, 
jept a hose; t *1*1 s i.-ninhuMU 1 . 

It Patient Has Surf 

ky {AIM -•■ BSrtd.tw :lw 
tfnl of an .*i islu'».«l heart 
t|s nf M»Vd dr.iir.inc u.-in il*-** 1 ’ 

■ith the nps'f.ii !■•:■' a f* 

Inmm'lcakcc Vn u 'iic- 'tern Title their sacrifices. Virginia Durr of 
vmnik lc.ih.t- ■ i, Iihdun Montgomery, who has long been 

l* and «u ^ ; w ;‘““ rtiveia cj^l rights. rtSy rc- 

relaiinns lm L« ]••••■•’ ' called telling a young black man of 

1 Audiimt!- P» 1 1 •“* ‘ j£;ihe courage of the Reverend Mar- 
n needed .hUiiii. i;. 1 ' ^ tin Luther King Jr. and Rosa Paries 

f blood ImiUimy up *« ^‘f'fjin the — 

rcallui’g. iMUH.’ii i" He 


AMERICAN TOPICS 


Nader Declares War 
On Bogus Presidents 

Ralph Nader, the consumer 
advocate, has written to Presi- 
dent Ronald Reagan urging 
him to speak out against the 
commercial exploitation of em- 
inent American forefathers in 
newspaper advertisements and 
television commercials. 

Acknowledging that the 
practice is beyond the bounds 
of government regulation. Mr. 
Nader nevertheless wrote, “As 
president of the United States, 
you are in the pre-eminent posh 
lion to be the custodian of mat- 
ters relating to presidential 
taste and decorum. Yon can 
take the proper opportunity to 
urge that businesses rein in 
their promotional addictions 
and permit the historical re- 
cord, not advertising daa?* to 
speak for our past presidents 
and founders/’ The White 
House had no immediate com- 
ment. 

In recent examples, actors 
have impersonated Thomas Jef- 
ferson in bank commercials, 
Abraham Lincoln extolling a 
large corporation’s wisdom and 
character and George Washing- 
ton hawking Daisnn automo- 
biles. 

Mr. Nader recalled a teacher 
holding up a picture of George 
Washington and asking her 6- 
year-old first-gradexs to identi- 
fy him. One replied, “He sells 
things on television.” 


Contraceptive Ads 
Debut on Television 

Local television stations in 
the United States, some of them 
network affiliates, have begun 
broadcasting commercials for 
female contraceptives, with 
very little adverse comment 
from viewers. 

The products advertised 
most often are dia phragms and 
chemical sponges. The pill, re- 
quiring a prescription, is 
banned from TV advertising by 
the U.S. Food and Drug Ad- 

m I nifU funnn. 

The contraceptive ads are 
low-toned. One spot shows four 
women seated, discussing the 
product Jim DeSchepper, pro- 
gram manager for wTVR in 
Richmond, Virginia, said “I se- 
riously doubt many viewers will 
even know what they’re watch- 
ing unless they’re seriously in- 
terested in the product" 

Public interest groups like 
the Children's Defense Fund 
and the National Urban League 
bade the ads: the anti-abortion 
American life Lobby opposes 
them. Marty Johnson, a Los 
Angeles advertising executive, 
says, “The networks are going 


to be the last to accept as." 
George Schweitzer of CBS tac- 
itly agrees: “We strive to enter- 
tain and inform, but not to of- 
fend" 


Short Takes 

UJ5, postal investigators have 
compiled a "list of coroorations 
that send their executives over- 
seas with suitcases stuffed with 
letters and parcels to be "re- 
mailed” in a country with' lower 
rates. They say this practice 
could be illegal, and have 
turned the list over to the Jus- 
tice Department, which is In- 
vestigating. Van Sea graves, 
publisher of the Business Mail- 
ers Review newsletter, says the 
list “is almost a Who’s Who of 
American business.” 

Wb3e the UJS. cost of living 
rose less than 4 percent in 1984, 
the cost of really Hiring, as Reu- 
ters puts it, went up more than 
twice as fast: ihe prices of 13 
luxury items listed by the New 
York office of Mo& and Chan- 
don, the champagne bouse, rose 
83 percent. The list includes 
items like caviar, truffles, 
smoked salmon and diamond 
bracelets. Most said mink coats 
now average J1Z650 each, or 15 
percent more than in 1983 . 


Notes About People 

RosaJynn Carter, 57, wife of 
Jimmy Carter, the former presi- 
dent, says Democratic Party of- 
ficials in Georgia have talked to 



Rosalynn Carter 

• her about running against Sena- 
tor Mack Mattingly, a Republi- 
can, in 1986. She says sne has 
no plans now to do so; she and 
her husband are writing a book 
on the unnecessary causes of 
death and disease in the United 
States. t 

— Compiled by 

ARTHUR HIGBEE 


NATO Chief, 
Goldwater 
Urge Release 
Of Spy Photos 

By George C. Wilson 

IVosflMgron Past Smire 

WASHINGTON — The United 
States should release top-secret in- 
telligence photos to the public to 
convince European allies that the 
Warsaw Pact must be combated 
with higher defense spending, ac- 
cording to General Bernard W. 
Rogers and Senator Barry Gddwa- 
ter. 

General Rogers, bead of the VS. 
European Command, said Friday 
that European governments within 
the North Atlantic Treaty Organi- 
zation were reluctant to caiT for 
higher military spending in the face 
of public opposition. 

The way out of this problem, he 
said at a hearing of the Senate 
Armed Services Committee, was to 
publish photographs obtained by 
U3. intelligence services on the 
Warsaw Pact military buildup. 

General Rogers mentioned Tuel 
pipelines being laid from the east 
toward the west as part oT the pho- 
tographic evidence that would be 
helpful in persuading Europeans 
that they confronted an increasing 
threat from the Warsaw Pact. He 
said he had already urged, unsuc- 
cessfully, that the pictures be re- 
leased. , 

Mr. Goldwater, the chairman of 
the Senate Armed Services Com- 
mittee, said intelligence officials 
had been t ellmg him “for the last 20 
years” that they’ could not release 
photos of the Warsaw Pact buildup 
because it would reveal UJ>. recon- 
naissance capabilities. 

“If the Soviets haven’t figured 
that out by now,” Mr. Goldwater 
said, “they’re not as smart as I 
think they are:” 

He said a few “hard-beaded” in- 
telligence officials were blocking 
die release of the pictures, most of 
them presumably gathered by sat- 
ellite. But be added that the United 
Slates now had “a hard-headed” 
president who would insist they be 
released once he understood the 
problem. 

Still Overmatched 
BUI Keller of The New York 
Tones reported from Washington: 

General Rogers said Friday that 
NATO nrilitaiy forces continued to 
be overmatched by the Warsaw 
Pact and would be forced to surren- 
der or resort to nuclear weapons 
within days of a Soviet attack. 

He said NATO conventional 
forces would quickly be overrun 
because of shortages of munitions, 
a lade of bomb-proof shelters for 
aircraft and because the United 
States did not have the planes to get 
reinforcements to Europe in time. 

■ General Rogers also said he be- 
lieved that the European allies were 
paying an “equitable share” to 





Barry Goldwater 

build up NATO forces, and urged 
Congress not to pressure them for 
more mtiiimy mending by threat- 
ening to cut UA troops there. 

The general’s testimony to the 
Senate Armed Services Committee 
came as some members of Con- 
gress prepared to reexamine NA- 
TO's military operations. 

Senator Sam Nunn, Democrat of 
Georgia, who last year urged cuts 
in the number of U.S. troops to 
pressure the Europeans, said 
NATO must do more to beef up 
conventional weapons. 

Senator Car! Levin, Democrat of 
Michigan, said there was a wide- 
spread feeling that the allies should 
relieve the United States of some of 
the costs of defending Europe. 

He quoted from a January study 
by the Congressional Budget Office 
that said the United States paid 
S819 per person on the military, 
while West Germany and Norway 
spent less than half amount 
and Japan spent S93. 

General Rogers said such studies 
distorted the cost-sharing by 
counting U3. forces held in reserve 
at home. 

“The allies are bearing a fairly 
equitable share of the common bur- 
den,” he said, adding, “If we're 
going to convince the Western Eu- 
ropeans to do more, you can’t do it 
by threatening to withdraw our 
troops." 

The deficiencies in NATO 
forces, he said, include the follow- 
ing: 

• Shortages of munitions and 
other supplies. While the United 
Stales has set a goal of slocking 30 
days’ worth of ammunition in Eu- 
rope, most European nations fall 
far short of that. 

• A lack of bomb-proof hangars 
for the airplanes that would be 
rushed to Europe in the first 10 
days of battle. 

• Too few aircraft to move in 
reinforcements. Asked by Mr. Lev- 
in if the United States could meet 
its current baLlle plan, which calk 
for moving 10 divisions to Europe 
in 10 days, General Rogers said, 
“We do hot have the capability, 
no.” 

• Outdated chemical weapons 
that would not deter the Soviet 
Union from a chemical attack. 


Article Raises Press-Security Issue 

Reporter Denied Access After Story on N-Arms 


By Gerald M Boyd 

.Vnr }'wi Tima Service 

_ WASHINGTON —The ques- 
. non of whether to publish infor- 
mation with national security 
implications has long been a sen- 
sitive one for both the American 
press and the government. But 
the issue took a new turn last 
week when a State Deportment 
official barred his staff from 
5peakingwith a New York Tunes 
reporter after The Tunes pub- 
lished an article on U3. nuclear 

p lanning 

A senior White House official 
who asked not ro be identified 
gave details Saturday on While 
House involvement in the article, 
saying President Ronald Rea- 
gan’s national security adviser, 
Robert C McFarlane. had di- 
rected the Slate Department to 
assist the reporter preparing the 
article. 

The article, written by Leslie 
H. Gelb, was published in The 
Times on Feb. 13 and in the 
International Herald Tribune on 
Feb. 14. It reported that the 
United States had contingency 
plans Tor placing, nuclear weap- 
ons in Canada. Iceland, Bermu- 
da and Puerto Rico buL had not 
informed the host governments. 
The article also said that reports 
of the plans led to sharp public 
debate in Canada and Iceland. 

The senior While House offi- 
cial said Saturday that Mr. 
McFarlane, in an attempt to 
minimize potential national se- 
curity breaches, had authorized a 
State Department official to as- 
sist the reponer. This official and 
Mr. Gelb said Mr. Gelb had pro- 
posed to limit the scope of the 


story to information already 
published in newspapers abroad, 
even though the reponer had in 
his possession more sensitive in- 
formation. 

Afterward. Lieutenant Gener- 
al John T. Chain Jr., director of 
the State Depan mem Bureau of 
Politico-Military Affairs, issued 
a directive barring his staff from 
further contacts with Mr. Gelb. 
General Chain said the article 
had included “classified infor- 
mation, the release of which is 
harmful to the United Stales.” 

General Chain ordered the re- 
moval of Mr. Geib's photograph 
from the bureau’s waiting room. 
Mr. Grib was director of the bu- 
reau from 1977 to 1979. 

A senior While House official 
said Saturday: “1 don’t know 
how much Chain knew about 
how the reponer handled it at 
the time. You just have to look at 
his point of view as someone 
bolding the job that Les had be- 
fore and who had a personal re- 
action to iL" 

Officially. White House aides 
have refused to comment on the 
mauer. referring inquiries to the 
State Department. On Friday, 
Robert B. Sims, the deputy 
White House press secretary for 
foreign affairs, said, when asked 
if General Chain's action had 
been proper. 

“I wouldn’t get into a judg- 
ment on the State Department 
on this. I think they would have 
to speak for themselves about the 
way they handled it there.” 

The White House role while 
the article was being preparol 
had not been previously report- 
ed. 


A senior administration offi- 
cial said Mr. McFarlane had au- 
thorized State Department coop- 
eration “to find out what, if any. 
valid information Mr. Gelb had” 
and to minimize any danger to 
national security. 

"We preferred the article not 
be published, obviously.” the of- 
ficial said, “but we wanted to 
minimize any danger to national 
security if die decision made by 
the managers of the newspapers 
was to publish.” 

Mr. Gelb said Saturday: “The 
Times editors and I were con- 
cerned about genuine national 
security as well as news. There- 
fore. we agreed at the outset to 
Emit the sroiy to those four 
countries where the contingency- 
plans had already been publicly 
disclosed. I informal the admin- 
istration of this from the start. 

"I further told administration 
officials that we would fully ex- 
plain what a contingency plan 
was and. specifically, that ii was 
strictly a Pentagon plan that did 
not even have presidential ap- 
proval yet. let alone the approval 
of foreign governments." 

After the article was pub- 
lished, Mr. Gelb said, officials 
from the State Department, ihe 
Pentagon and the While House 
told him they believed it had 
been responsibly done, although 
they wished it had not been pub- 
lished. 

While Mr. Gelb was gathering 
information from the Stale De- 
partment. Secretary of State 
Geoige P. Shultz asked The 
Times not lo publish it. 


John B. Kelly Jr., Olympic Official, Dies 


PHILADELPHIA (API - John 
B. Kelly Jr.. 57, the US. Olympic 
Committee president and brother 
of the late Princess Grace of Mona- 
co, died Saturday while jogging, 
police said. 

Mr. Kelly's body was found at a 
city intersection about 9:30 AAL. 
according to a Philadelphia police 
spokesman. 

The cause of death was not de- 
termined in an autopsy conducted 
Saturday, the spokesman said. Ear- 
lier, he had blamed the death on a 
heart attack. 

Mr. Kelly competed in the 
Olympic Games in 1948, 1952, 
1956 and 1960. He won a bronze 


TjalHng C Koopmans, 

74, Nobel Economist 

NEW HAVEN. Connecticut 
(NYT) — Dr. Tj ailing C. Koop- 
mans. 74. co-winner of the 1975 
Nobel Memorial Prize in Economic 
Science for his theories on the opti- 
mal allocation of resources, (tied 
Tuesday at Yale-New Haven Hos- 
pital 

The Dutch-bom Dr. Koopmans. 
of Hamden. Connecticut, shared 
the prize with Leonid Kantorovich, 
a Soviet economist, for their work, 
independent of each other, in de- 
veloping mathematical solutions to 
problems faced by 


laborator and wife of Frank Lloyd 
Wright and. since his death in 1959, 
the keeper of his architectural lega- 
cy. on Friday, of a heart attack in 
Scottsdale, Arizona. 

Sr Iain Moocrieffc of that Ilk, 
65, genealogist and chairman of 
Debrett’s Peerage, a guide to Brit- 
ain’s aristocracy, from 1977 to 
1981, in London on Wednesday. 

Douglas Muggeridge, 56. manag- 
ing director of the BBC’s External 
Service broadcasts, in London on 
Tuesday after a long illness. 

WiJKam Stringfe&ow, 56, a law- 


mc r most enter- „ . . 

medal in the sinele sculls in the prises: maximizing production Y®’* , a “por and Episcopalian lay 
1956 Olympics in Melbourne. He with limited resources or minimiz- 

was elected president or the Olym- mg the cost of produong an assort- rS ™ 

pic committee last month, a pbsi- mem of goods. dence, Rhode Island. 

lion he said that he had “looked Other deaths: Eugene list, 67, US. pianist, on 

, forward to for a long time." Otgivamia Lloyd Wrighl, 85, col- Friday in New York City. 


U.S. Receives 
Plan to Make 
Its Embassies 
More Secure 

By Don Obtsdorfer 

it •iifiingruM Pit: Sonar 

WASHINGTON — The US. 
Slate Department has. undertaken 
what is likely to he the biggest em- 
bassy-building program m U.S. 
history after learning that more 
than half of the 262 U.S. embassies 
and ocher diplomatic posts do not 
meet minimum security standards 
established after last September’s 
terrorist bombing of the U.S. Em- 
bassy annex in Beirut. 

A' high-level advisory panel 
headed by retired Admiral Bobby 
R. Inman, former director of the 
National Security Agency, report- 
ed lo Secretary of State George P. 
Shultz last month that 134 of the 
overseas posts must be replaced or 
"significantly overhauled” to meet 
the new- standards. 

According to initial Sure De- 
partment estimates, it will cost 53.3 
billion to bring these embassies and 
consulates up to the new standards 
The recommended program in- 
cludes purchase of land and the 
design, construction and furnishing 
or mjny new buildings. About two- 
thirds of ihe funds would he need- 
ed in the volatile Middle East. 

These sums would be partially 
offset by ihe sale of existing U.S 
land anil buildings no longer suit- 
able for U.S missions because of 
the threat of terrorism. 

One of the most important and 
must expensive new standards for 
U.S. embosses is a security zone of 
at least 100 feet (30 meters) outside 
major buildings as protection 
against car and truck bombs such 
os these that have damaged or de- 
stroyed U.S. Embassy buildings in 
Beirut and other Middle East capi- 
tals and ihe U.S. and French troop 
compounds in Beirut. 

Such security zones are almost 
impossible to arrange in crowded 
downtown areas, where many U.S. 
diplomatic buildings have been lo- 
cated for public ana official conve- 
nience. 

Admiral Inman's group, official- 
ly known as the Advisory Pond on 
Overseas Security, was appointed 
by Mr. Shultz last July to advise on 
security threats overseas in the next 
10 years and how to counter them. 

Among recommendations of the 
Inman panel, according lo (he 
State Department, is to convene a 
board of inquiry in the event of 
terrorist incidents to assess ac- 
countability for possible security 
lapses. The State Department in- 
vestigated responsibility for the 
Sept 20 truck bombing of the U.S. 
Embassy annex in Beirut, in which 
two Americans and about 20 Leba- 
nese were killed. 


Integration in Selma Still a Dream 


(Continued from Page I) 


»lcn and p.ivw-j • . ■ MIC MI1U, mol dUUCU. 

him nicilre.»i iflidr 111 T “Mn. Durr, I don’t want to ride 
iwniuri .»t«i he ;c»i.. 1 that bus anyhow. 1 want a car of my 






expression, she said, then added: 


own. 

, For some blacks in the South, Ibe 
1 lrafflannivOTsaiy of the march is not so 
KeieaMnii ■» * ““Wh a measure of what has been 
i rh.Ti 1 ! r^accornplished. but of what is-yet to 

J ’ IT: '.V .j \:ik.!i.i ■■e'jHe achieved. In that sense, it is a 

1 ■' * i*i ihe mfireminder'af the inability of b lacks 

|.. :i |i translate the enormous legal and 

social gains of the 1960s into eco- 

. : t!!1 >rrtWiQniic and political leverage. 

1 ’-..muni-# The Reverend Joseph E Lowery, 


t v»u: 
ampv 
am d»kW-»‘ he.* 
« tflv h.iti ev.ii!!"'*’* 


Iraqi pvi>»*iuT- 


'president of the Southern Christian 


d both Iraq *’ •* ■ ' !' > .a[M : Leadership Conference, likes to put 

» * ” ■ it ikip tfHlIf C A ..lk ** kit -t.'J 


Reverend Frederick D. Reese, a 
veteran dvil rights leader who, as a 
funior high school principal, sought 
unsuccessfully last summer to un- 
seat Mr. Smithennan. “But we still 
have a long way to gq. There is not 
a genuine type of caring. What you 
see, in most cases, is just surface 
deep.” 

TTtis is, for example, a □ ty where 
nearly 1,000 white students attend 
two private academies that were 
founded, amid the tumult of deseg- 
regation. with the purpose of ex- 
cluding blacks. The Selma Country 
Gub has no black members and 
until two years ago would not allow 
a black dance band inside. And 
there are still two chapters of the 
Elks Gub, one for blacks and one 
for whites. 

JX. Chestnut, a black lawyer 
and civil rights activist, sard: 
“While there is integration, and 


there have been changes, there is a 
separation of black and white here 
to an extent almost as widespread 
as it was 20 years ago. The overall 
picture is one of two societies liv- 
ing, in many ways, in tandem." By 
and large, neighborhoods are still 
segreg a ted by choice, and he says 
there is little soda] interaction be- 
tween the races. 

When measured against the 
1960s, when fewer than 300 of the 
15,115 eligible blacks in Selma and 
surrounding Dallas County were 
registered to vote, tire differences 
are dramatic. 

Bui what Macks still do not have 
in Selma is effective political or 
economic power. 

Although blacks make up more 
than half the population in Dallas 
County, only one black Iras been 
elected to any county office there 
since Reconstruction. 


Black Leaders 
Gather to MaHt 
'Bloody Sunday 9 

The Associated Press 

SELMA, Alabama — Black 
leaders gathered on Sunday lo 
mark the 20th anniversary of 
the voting rights march from 
Selma to Montgomery with a 
new pilgrimage along the route 
of the protest 

The Five-day journey, which 
began with a crossing of the 
bridge where law officers 
dashed with black marchers in 
1965, will end on Thursday., the 
anniversary of a dash between 
police and marchers, with a ral- 
ly at the slate Capitol 

March 7, 1965, or “Bloody 
Sunday,” as civil rights leaders 
called it, inspired an even larger 
march on March 21, 1965. 


Iicrepi'rt *a»d it* 
:c than h- 1 


tr.uj 


it this way. “In the South,” he said, 
“everythinghas change d, andnoth- 
,> jng has changed.” He was referring 
4 ill buWJp the fact drat in Selma, as in the 

AOulfi R tl 'region and in ihe nation, the level 

... •; . I si"’* 1 ! v unemployment and poverty 

CIC rt li -u-i - .r "^unong blacks is wdl above that erf 

i mini - ^ si* ^vhiief 

incnutirtit m*- • u, i„„™,, .i 


incrtina 

Sieved t«* owrk v •• 
. Tigir •’! Hu- 


•i 


Mr. Lowery said these frustra- 
tiras have been sharpened ance the 


it area ^ But for the generation that has 

*w ■ -,jv kii- ^xune of age since the 1960s, the 

lcc. about ,s, ‘ tr ■k'T.xist — when blacks were systemat- 


tagan administration came to of- 
Ice. 


ocial discipline — seems as remote 

d a# 11 .There has been a great deal of 

at r«-nu» ' , t i,b ; i^hangein Sdma. Since 1970, as the 

IViuc •' , lU - esult of a federal court order, the. 

in Mhrn> Jik” !i v) ‘ -Jiblic schools have been integrat- 
, , v Blades serve on all city boards. 

amUti-Miv k-mw S,: ;\ 1 | ‘,uJ rt S5® 1 de B? ly P 01 *** chief “ blflck - 
r.iunil «ii ‘ , County has a black state 

111 JiHHW . ( ,J. n.** ui— 1,. — 

iithcflO i •> 

i%n n.’ ii- ““ .1 


dCttl 1'' P* 

Itltf West 1 

J !«::k 


"ii" 




(.id.* enator and blacks and whites are 
tfi 1 JpoOsd together in classes at the' 
. ,. 4 -' u *ttge Coney Wallace Communi- 
'' ! j College, named for the man who 

20 


■wp * 7i In: T&Si th 

* * I *2 1 ‘L V-mm'-.m V on that balmy Sunday 2! 
aichxai^J* .. c -i ^ftjwitara ago. 

U! t t . ..•.o * 1 Aninno _ .. . - 


nhjt w It-*- !!u *' 


rd 

fd a " 
rv io 

1 I'n’ftV 

&& ki»vU 

w dial :!»«■» o..s 


Among some whites, there is 
Ve u public contrition for past sails. 
ustJph'T. Smithennan, me prag- 
tatisl who has been mayor of Sa- 
ttfriua since 1964. confesses that he is 
• - aiiH 85 8“% in his own way as Jim 
"*!:": Jik, the Dallas COtrnty sheriff 

!l ‘ " . „i role in the Peltus Bridgeme- 

■4 a natiohal symbol of 

1 ' . .v 1 . 1 “ f’lmnageoce. “Our hands are just 
* 5 ®ny as his,” said Mr. Smither- 

'•■** 0 - “He just made the mistake of 
hard- 



rid K<aj:« 


Selma, 

— — — integration or 
51 public offices are only 

.•«t or the story. “There have been 


J tins ilv ™«ory. “mere have been 

fa* hi U’ ,. % * W . oi-' ‘ lot trf changes here,” said the 

: j r* i : 



In Abu Dhabi 
our hotel is the ultimate 
in luxury for business and relaxation. 

ABU DHABI 
INTER • CONTINENTAL 
HOTEL 





THE ADVANTAGE IS INTER-CONTINENTAL 

0 INTER- CONTINENTAL HOTELS 

Al Khalidiya Street, Comiche, P.Q. Box 4171 Telex; 23160 
For reservations call your nearest InterContinental sales office. 

There are also superb Inter-Continental Hotels in Al Ain, Amman, Bahrain, 
Dubai, Muscat, Riyadh, Taif and over 80 cities around the world. 



MORE LOCATIONS. 



DISLOCATIONS. 



Success in international business has a lot ro do with 
having the right connections. 

And very few banks indeed can offer you as many as 
Standard Chartered. 

As one of Britain's largest banks, and specialists in inter- 
national business, we have over 2000 branches in more than 
60 countries. All linked by common systems and the latest in 
telecommunications technology. And all staffed by people to 
whom international trade is a way of life. 

The result is that when you deal with Standard 
Chattered, you deal with people who understand your 


problems-and can supply solutions. 

Delayed payments become an occasional rarity rather 
than a constant headache. 

International cash management that enables you to use 
funds more efficiently becomes a reality rather than an 
objective. 

And whether you need a more competitive foreign 
exchange dealing service, better-tailored trade finance, or 
more productive advice and introductions around the 
world, youli find the service you want under one roof. 

Ours. 


Standard ^Chartered 


Dwectbanfes^imMififfc 

Standard Charteitd-Buik Head Office; 10 Ctcmeno Lane, London EC4N TAB. 


.Iffltta* 





ib 


P 

m 

r 

( 




Page 4 


Hcralb 


INTERNATIONAL 

PnUnihfd Vah Tbg No* YorL Times and ThTWaOmigimi Pud 


tribune 


Hie Road Out of Lebanon 


There is really only one thing to be said 
about the unrest and violence flaring in south- 
ern Lebanon, where Israeli troops arc under 
continuing fire from the local people and now 
from units of the Lebanese Army, which is not 
known as much of a fighting force. The Israelis 
should gel out They were welcomed by many 
Lebanese in 1982 for ousting the Palestine 
Liberation Organization and for offering a 
kind of partnership to the Christians, but they 
have worn out that welcome and are now 
regarded simply as an occupying force. They 
have no legitimate business in Lebanon be- 
yond ensuring the security of their frontier. 

In February the Israeli forces pulled out of 
Sidon and its environs in what was intended to 
open a careful three-stage withdrawal The 
working theory was to reduce the ratio of 
hostile Shiite Moslems and Palestinians in the 
population under occupation. But the Israeli 
forces found themselves abandoning a natural 
line at the Awali river for a more exposed 
position, and Shiite actions have increased. 
Some Israelis now fear that this particular 
terrorism will follow them back into Israel 
Meanwhile, the resistance intensifies, produc- 
ing harsher retaliation, more terror and new 
casualties: the familiar cycle. 

Why does Israel withdraw so slowly? Partly 


because of the reluctance of Likud, which was 
responsible for going deep into Lebanon in 
2982, to acknowledge the need to cut Israel's 
losses now that the party shares power with 
Labor. But to other Israelis it is apparent that 
to drag on in Lebanon is to play into the hands 
or the Syrians and others who see a profit in 
having Israel bleed. By staying on, moreover. 
Israel creates new friction with the United 
Nations, whose peacekeepers and diplomatic 
auspices it needs to cover its withdrawal 

Israel had thought to leave behind friendly 
Lebanese. But since the Israeli occupying 
forces left Sidon. Shiites and others have been 
lolling and intimidating those friendly Leba- 
nese. As its last line of defense. Israel mil have 
to rely on forces stationed on its own territory. 

This will leave southern Lebanon to the 
Lebanese: to the army and government, which 
are making a last-ditch effort to gain prestige 
by becoming patrons of Israeli withdrawal 
and to the communities and their militias, 
which, freed from (he Israeli distraction, are 
having to face the full consequences of their 
own bitter rivalries. It is not a pretty picture, 
but it is Lebanon’s. It is Lebanon's, that is, 
unless Syria can play the pacifier's role it 
always claims and help settle Lebanon down. 

— THE WASHINGTON POST 


Uncle Tangles With Nick 


The US. quarrel with Nicaragua is acquir- 
ing the day-to-day suspense of a television 
soap, “Uncle Knows Best” Uncle is rich, pow- 
erful and short-tempered. His scapegrace 
nephew, Nick, recklessly rejects Uncle’s values 
and seeks the protection of a bad crowd, the 
Red Beards. They arm him with switchblades 
and he says he won’t change his ways or 
friends until Unde leaves him alone. 

Uncle thinks Nick is ruining the neighbor- 
hood. He seems to be supplying switchblades 
lo other rebels. An example must be made. 
Uncle cuts off Nick's allowance, but that 
doesn't work. The family won'L let Uncle send 
the Marines. In desperation, he has his compa- 
ny organize a pick-up army, the Whitecoats, to 
make life wretched for Nick. 

Last week, Nick offered to stop buying 
switchblades and to send a few Red Beards 
home. But Uncle calls it all a trick and insists 
that Cousin Tip scrounge up the money to 
keep paying the Whitecoats. 

This drama has an inexorable air. President 
Reagan shows no inclination to compromise; 
□either do his military advisers or CIA opera- 
tives. And Secretary of State George Shultz, 
whatever his private views, hides them under a 
war bonnet. Even if Congress refuses to keep 
funding the “contra'’ army, an amalgam of 
decent democrats and former officers of So- 
moza’s brutal National Guard, the administra- 
tion can probably support it indefinitely with 


other money. It seems determined to keep up 
the hit-and-run attacks and sabotage that hurt 
Nicaragua but will never topple the Sandinists. 

What is wrong with that? Won't the pro- 
tracted harassment keep the San dinis ts from 
consolidating their power and contain their 
influence in the region? The president seems 
convinced they will never make an honest deal 

But the extras on both sides of this drama 
are real people, being subjected to endless war 
and suffering. And not only Nicaraguans re- 
coil from a course that sacrifices a society to 
U.S. intolerance for another leftist regime in 
the hemisphere. Europeans are thus encour- 
aged to equate American and Soviet behavior, 
overlooking the difference that in Poland a 
proxy Soviet army is suppressing democracy. 
The European view may be debatable but it is 
a real cost of this policy. So is the resentment 
of Latin democrats, who favor the Comadora 
compromise that Mr. Reagan rejects. 

Prolonging Nicaragua's miseries has a sin- 
gle. crude justification. It avoids coming to 
terms with the limits the United States has set 
on its own power. But given (hose restraints, 
the plausible price for ending this conflict 
should be a verifiable regional treaty that lim- 
its the level of arms and provides guarantees of 
human rights. A great power that refuses to 
proclaim attainable ends may remain power- 
ful, but it will not be perceived as great. 

— THE NEW YORK TIMES. 


And More Mouths to Feed 


; There are countries that have far too many 
mouths to feed. The photographs of Ethiopia's 
starving children demonstrate the conse- 
quences of drought poor land use and over- 
population. Yet two months ago the Reagan 
administration, which was quick to send Ethi- 
opia short-term help, denied long-term help 
that is needed just as much. 

! The Reagan administration refused 517 mil- 
lion in aid to the International Planned Par- 
enthood Federation because something less 
than 1 percent of its total funds — none of it 
federal money — goes to abortion-related ser- 
vices. In so doing, the administration dealt a 
devastating blow to an organization that is the 
primary network for family planning pro- 
grams all over the world. The move wiped out 
tbefragUe web of such services in Ethiopia and 
caused the cancellation of planned programs 
in 17 other African countries. 

Now the administration wants to magnify 
that blow by placing similar conditions on 
U.S. aid to many other nongovernmental pro- 
gram sponsors, conditions that it could not 


legally impose on domestic organizations. 

The Agency for International Development 
proposes a clause in its contracts with popula- 
tion-planning groups asking that they monitor 
not only the uses of the federal aid, but also of 
all funds they receive. If any funds, even raised 
from private sources within the recipient coun- 
try, are used even to advise a woman about 
the availability of abortion, the federal money 
will be cut off. Foreign governments would 
remain exempt from this proposal. They are 
required only to keep funds provided by the 
federal government away from abortion-relat- 
ed activities. That, perhaps, is the shaky way 
the administration plans to defend itself 
against charges of manipulating other coun- 
tries' population policies. 

Unless Congress intervenes. AID’s new con- 
tract will become one more tool in the anti- 
abortion campaign. Instead of promoting life, 
the administration will help to set the stage for 
yet more photographs of cadaverous children 
in y el another season of death. 

— THE NEW YORK TIMES 


Other Opinion 


ie Death of a Nation 

fbe UN report accusing the Soviet Union of 
[espread human rights violations in Af- 
inislan is extraordinary, horrifying and 
ely — a devastating indictment erf Soviet 
lavior. The report confirms [that] Soviet 
res have been carrying out a deliberate 
icy of massacring civilians, bombing and 


shelling villages, and summarily executing 
captured guerrillas. There has been a massive 
displacement of people, ibe flight of some 4 
million, and food shortages. A nation is dying. 

It is not often that a UN body a tucks the 
Soviet Union in this manner, bui it would be 
surprising if it changed the situation in Af- 
ghanistan, or elsewhere. 

— The Daily Telegraph (London). 


FROM OUR MARCH 4 PAGES, 75 AND 50 YEARS AGO 

1935: Greek Revolt Spreads lo Crete 
ATHENS — With the greater pan of the 
island of Crete in the hands of the rebels, and 
with rumors that the revolution which started 
here [on March 1] has spread to Thrace. 
Greece is facing the gravest crisis in its history 
since its defeat at the hands of the Turks in 
1921. Eleutherios Venizdcs, 71 -year-old Cre- 
tan statesman and iron man of Greek politics 
for twenty-five years, is leading the new move- 
ment The Greek rebels bold the greater pan of 
Crete. Reports that the revolution has also 
flared up in Thrace were confirmed. The revo- 
lutionary forces, consisting or the officers and 
crews of the nine warships which sped from 
Athens and which succeeded in reaching 
Crete, captured Candia as well as Cania and 
Reppimo, with the help of local troops, all 
Vemzdists. Rebel destroyers in Souda Bay 
have been attacked by bombing squadrons. 


LO: Mob Lynches Dallas Defendant 
V YORK — Another serious outbreak of 
i fury is , reported from Dallas. Texas, 
re a n egro named Brooks was ton from 
custody of his jailers and lynched by a 
rd of 2,000 people. Brooks was placed in 
dock [on March 3] and charged with as- 
ling a two-year-old white child, but before 
ase had gone further a body of men in the 
a made a sudden movement towards the 
aner and brought the proceedings to an 
ipt dose. They dragged Brooks from the 
c in spite of the wardens on guard. Break- 
>pen the windows of the courtroom, which 
on the second floor, (hey hurled their 
m to confederates waiting in the street 
w. The negro was seriously injured by the 
but the crowd threw themselves upon him 
after seriously beating him. hanged him 
riddled the body with bullets. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY. Chairman 19581982 

KATHARINE GRAHAM. WILLIAM S. PALEY. ARTHUR OCHS SULZBERGER 

Co-Chairmen 


QL1PM. FOlStE 
VLTER WELLS 
JBERT K. McCABE 
MUELABT 
lRLGEWIRTZ 


LEE W. HUEBNER, Publisher 
Fee rumr Editor RENE BOND Y 

Educe ALAIN LECOUR 

Depute Edttor R ICH ARD H. MORGAN 

Dam Editor STEPHAN W. CONAWAY 

Assaaul* Editor FRANCOIS DESMA1SONS 


ROLF] 


Defyrr Publisher 

Associate Publisher 
Associate Pubkshrr 
Director of Operations 
rid uuiwuviu Director of Gradation 
KRANEPUHL Director cf Adrrrumg Sales 


OTMtuwial Herald Tribune. 181 Avenue CluufeHfe-GauZlc, 92200 NauUy-sur-Saac. 
’ TO&hSc^47-12fi5. Telex: 612718 (Herald). Cables Herald Paris. 

Djrecuur de h piMcatton: Welter N. Thayer. 

■ Hradauoners. 24-34 Hennessv Rd. Hong Kong. TeL 5-285618 Telex 6/170. 
Lotot&ulF'l&in MecKidm. hi Long Acre. London Wd TeL 83648)1 Telex 262009. 
^Umiulde iJMOOO T. RCS NoMerre B 731021 126. G xnmosien Pom (tire No. 613J7. 

’■ c jQgy International Herald Tribune. AO ngfas roared. 



MX Noises Make It Hard to Hear Moscow 


N EW YORK — For weeks on end. we have 
been bearing assertions from senior figures 
in Washington to the effect that it is only the 
great buildup of America’s military strength 
(presumably since late 1983) that has brought die 
Russians “back" (although it is not exactly that) 
to the arms negotiation table. .And now we find 
ourselves assured that only the completion of the 
MX missile program, as urged by the Reagan 
administration, could give liie Russians the in- 
centive to deal seriously with us at that table. 

The first assertion is unproved and highly 
unlikely. The second strikes me as pure nonsense. 

There is no reason to suppose that the real but 
modest improvement in O.S. nuclear capability 
that has taken place since strategic anus control 
talks were broken off has in any real way affected 
ibe Soviet attitude toward the coming talks. 

H is much likelier that the Soviet consent to 
join in these talks was inspired primarily by the 
impression conveyed to Moscow from a number 
of sources that President Reagan, in entering 
upon his second term in office, was serious in his 
desire to get on with arms control and to lower 
the tensions in Soviet- American relations. To 
this was no doubt added the realization by the 
Soviet leaders that their abstention from the 
negotiating process was being successfully ex- 
ploited against them at the propaganda level. 

But behind all this there alio lay something 
even more serious: a possibility (even a probabil- 
ity) that the administration has studiedly de- 
clined to recognize — the possibility (hat the 
Soviet leadership might really have come to the 
conclusion that a continuation of the nuclear 
arms race held no promising advantages for 
anyone and that it would be to their own interest 
to get on. if possible, with a significant abate- 
ment of iL This conclusion would not have been 
unreasonable. Nor would it necessarily have 


By George F. Kennan 

been a sign of exceptional virtue on their part- 
As for the MX, what is at stake here is no more 
than a moderate increase in quantities of nuclear 
overkill already so staggering that a few missiles 
more or less do Little to change the general 
problem. The Russians will see in the pressures 
the administration is now bringing to bear on 

Evidence suggests that the Soviet 
side is profoundly skeptical of 
the Reagan administration's 
seriousness on arms controL 

Congress in this connection one more symptom 
of the spirit in which the administration is ap- 
proaching the new talks — and that, of course, 
the Kremlin will have to take into account. But 
this will not necessarily modify the Russians' 
negotiating position. Why should it influence 
them, unless they believe that the MX program is 
really expendable for negotiating purposes? 

Aside from the fact that senior governmental 
officials have repeatedly stated that it is not thus 
negotiable, the Russians know very well that no 
such program — into which billions of dollars 
have already been invested and on which thou- 
sands of people are now dependent for their 
livelihood — could really be played with as a 
“bargaining chip" by negotiators in Geneva. Any 
further funding Congress derides to devote to the 
MX program will appear to Moscow as a fait 
accompli, and will be evaluated accordingly. 
Evidence suggests that the Soviet side, in en- 


tering upon these new arms talks, will be acting 
in a spirit of profound skepticism as to the 
seriousness of the administration’s desire to get 
on with arms control. Nothing in the preparation 
for the talks at the American end could have 
encouraged them to take any other attitude. 

Neither the reiteration of the offensive insinu- 
ation that they have been frightened into return- 
ing to the table, nor the known attitudes of 
certain of those chosen to conduct the talks from 
the American side, nor the uncertainties (seated 
by the Strategic Defense Initiative, nor the recent 
commandeering of the space shuttle for military 
purposes, nor the many official assurances dial 
they, the Russians, were about to be softened up 
by further demonstrations of American “re- 
solve” (resolve to do what?) can have been help- 
ful in overcoming Moscow’s skepticism. 

Would all tins not rather have encouraged 
them in the belief that the administration's readi- 
ness to participate in the coming talks was noth- 
ing more than window dressing to mollify some 
of America's nervous allies and whatever re- 
mains of the country's peace movement? 

That the Russians should be coining in this 
frame of mind to a set of negotiations on which 
the entire future of the arms race may wed 
depend is a dangerous circumstance. The admin- 
istration would do well to bear this in mind. Real 
strength, quietly maintained and not openly 
brandished, can indeed be a useful support to 
diplomacy. Showy and questionable strength, 
too openly boasted about and relied on too 
exclusively for pressure on another government, 
can have precisely the contrary effect 

The writer, a former U.S. ambassador to the 
Soviet Union, is professor emeritus at the Institute 
for Advanced Study in Princeton, New Jersey. He 
contributed this comment to The New York Times. 


Attending 
To Famine’s 
Early Signs 

By Brian W. Walker 

W ASHINGTON — .Africa is en- 
vironmentally bankrupt. An 
entire continental breakdown is by 
no means impossible. Yet for thou- 
sands of years. African people lived 
in balanced harmony with their envi- 
ronment. never straining the carrying 
capacity of nature. By drawing on 
that experience and by monitoring 
food prices and other social phenom- 
ena that give early clues about im- 
pending problems, it may be possible 
to delay or prevent future famines. 

Over the centuries, indigenous 
peoples developed survival patterns 
that enabled them to live in areas 
where it may not have rained for 10 
years or more. This is because a series 
of survival thresholds ate crossed be- 
fore a family, village or community 
leaves home to become what we clas- 
sify as “famine victims" or “environ- 
mental refugees." 

During a drought's first year, the 
family lives off the surpluses of previ- 
ous good years. In the second year, 
the men and older boys range farther 
afield selling their labor in the sur- 
rounding non-drought areas. The 
women walk great distances lo sell 
what surpluses still remain. By the 
third and fourth years, people are 
selling off their livestock. In years 
five and six. household goods and 
family possessions are sola; in years 
seven and eight, personal possessions 
and jewelry. Toward the end of the 
decade, weapons are sold. 

It is only then, when all possessions 
have been sold, that the community 
sets off to the nearest better-off area 
in search of food and wages. Once the 
community settles, the inevitable oc- 
curs: Food prices increase because of 
the extra strain on food resources. 



Conversely, in the now saturated la- 
bor market, supply exceeds demand 
and wages falL 

Foeq shortages become acute in 
response -(o these two pressures, and 
eventually the enlarged community 
falls prey to hunger and is forced to 
move. Thus, small pockets of hunger 
merge and grow until eventually the 
government, or the world’s news me- 
dia, declares that there is a famine 
across a whole region. 

“Famine" thus has much more to 
do with social and domestic behavior, 
with markets and the economy, than 
with nature. People and governments 
cause famines — not the climate. 

If this sequence of survival mecha- 
nisms could be identified early on (in, 
say. the first two or three years) and 
remedial action taken through mod- 
est development aid — especially 
seeds, hand hoes, water pumps— the 
“famine’’ could be prevented or 
greatly minimized. 

The cost of designing such a low- 


cost early-wanting system for famine 
prediction ou a regional basis would 
be minuscule compared to the huge 
famine relief operation now present 
in many parts of Africa. 

Possibly the most encouraging 
comment on Africa is that for thou- 
sands of years, before this century, 
there were virtually no disasters of 
the kind we have seat in the last two 
decades. It is not that the dimate has 
radically changed: Africa has always 
experienced recurring cycles of 
drought and flood, as well as bush 
fires, without widespread suffering. 

At the turn of the century, howev- 
er, colonialism began to threaten the 
social fabric of traditional African 
communities. The whim of a handful 
of European colonial powers reduced 
1.000 tribes to 50-odd nations. As 
independent stales replaced the old 
colonial powers in the 1960s, deterio- 
ration gathered momentum. 

Yet the principles that sustained 
differing, often complex societies 


across thousands of years still hold 
good today, and what has been done 
once surely can be done again. 
Though desperate, the situation is not 
beyond hope. Africa’s vast reserves 
(including soil water, sunshine and 
tree cover), the traditional wisdom of 
its people in agriculture and medirine 
ana their innate buoyancy offer a 
formidable opportunity for escape 
from the poverty trap. . 

If governments and aid agencies 
would shift their development poli- 
cies toward the landless and the 

soil 
water 

land used to opti- 
mum effect and labor-intensive agri- 
culture could re-emerge. This could 
lay the foundations of a prosperous 
modem economy. 

The writer is president of the Inter- 
national Institute for Environment and 
Development He contributed this com-, 
mem to The New York Times. 



Terrorism: Its Roots Tell More Than its Branches 


P ARIS — In the West European 
and Middle Eastern terrorism of 
the last 20 years there has been little 
sign of overall direction by an exter- 
nal agency or foreign intelligence ser- 
vice. Had there been, life would have 
been made easier for police and secu- 
rity services. 

The argument of the hidden hand 
is plausible in individual operations. 
The Libyan. Iranian and Syrian gov- 
ernments clearly have been responsi- 
ble for certain of these. The evidence 
that there was a Bulgarian, ultimately 
a Soviet, role in the attempt to kill 
Pope John Paul II is persuasive. But 
the search for proof of some large 
plan of coordinated attack upon the 
institutions and stability of the West 
has thus far proved to be a waste of 
rime and a diversion of resources. 

It is too easy to assume that it all 
fits together. Terrorism is a field open 
to private enterprise. A recent paper 
by George H. Wmman of the Na- 
tional Institute for Security Affairs in 
New York emphasizes that logistics 
are no big problem today. Explosives 
and arms are available. The informa- 
tion needed to manufacture muni- 
tions. set up secure communications 
and conduct underground opera- 
tions is easily found in available lit- 
erature. Thousands have received 
training in such matters from the mil- 
itary services of dozens of countries, 
he United States among them. 

Military field manuals are to be 
had. Financing, once limited to sup- 
port from state intelligence networks, 
is now as near as the local drug deal- 
er. And bank hold-ups provide useful 
exercise for terrorists in training. 

This ts not to deny that formal 
instruction in terrorist techniques has 
been offered by East European in- 
structors in some Third World coun- 
tries. Palestinian terrorist groups 
have made bargains with Europeans 
willing ic> help the Palestinian cause. 
But giving training affords no control 
over what ijier is done with it. 

There is a simpler explanation of 
the source* of terrorism. When ter- 
rorism i> of a scale that has to be 
taken seriously, it aroes from partic- 
ular political circumstances in an in- 
dividual o-uturv 


By William Pfaff 


Note that in West Germany and 
Italy in the 1970s. where two truly 
serious terrorist challenges to demo- 
cratic government arose, there was no 
evident prospect of bringing about 
radical reform by action within the 
established political structures. 

The West German Social Demo- 
cratic Party was prospectively or ac- 
tually the party of govemraenL There 
was nothing to its left, until the 
Greens arrived. Communism in Italy 
had become a conservative force by 
the 1960s. and the Christian Demo- 
crats. originally a party of reform, 
were already emptied of idealism. 

Sergio Romano. Italy's ambassa- 
dor to the North Atlantic Treaty Or- 
ganization, has written that “die bi- 
ography of [Italian] terrorists and 
intellectuals who have explained and 
justified the terrorist option frequent- 
ly reveals a double root, Christian 
■and Marxist. Their cultural and polit- 
ical progress is often marked by the 
same stages: the Social Christian 
groups following in the footsteps of 
the Vatican Council, the youth orga- 
nizations of the Communist Party, 
the Marxist or Liberation ‘groupus- 


cules’ proliferating in the universities 
after 1968. and finally the clandestine 
organizations . . ." 

In this same period, however, the 
extreme left in Britain was able to 
infiltrate and obtain considerable in- 
fluence over the Labor Party. In 
France, the Common Program of the 
Left was prod aimed, the Commu- 
nists and Socialists alike scorning the 
compromises made by the moderate 
Social Democrats in other countries 
and claiming that in France a united 
left could, and would, change how 
people lived. In neither country was 
there an indigenous terrorist move- 
ment of consequence. There was only 
the marginal problem of the Irish 
Republican Army, and in France of 
Breton and Corsican nationalism. 

But consider that in France today 
the idea that the left in power would 
transform lives is wholly discredited. 
The French Socialist government is 
on a centrist course, in the European 
mainstream, dealing with its prob- 
lems in much the same way everyone 
else does, with much the same, unsat- 
isfactory, results. The Communists 
are a spent force. There is no place, in 


the party system, for the serious dissi- 
dent, the radical idealist 

The Labor Farcy in Britain is by 
now deeply under the influence of the 
extreme left but has also seen its 
electoral chances much diminish ed 
(although far from finished off). The 
miners’ strike, from the start an im- 
plicitly revolutionary challenge of the 
Conservative government, has been 
humiliatingly d ef ea t ed. Where does 
the left now go? Tbe miners' strike 
saw a level of violence perhaps un- 
precedented in modem Britain. Does 
more violence lie in the future, as 
moderate or conservative govern- 
ment fails to answer big questions of 
soda! justice? 

It would be preposterous to at- 
tempt serious prediction. The forces 
at work in all these countries are 
much too complex for that. But to 
give thought to the connections be-. 
tween terrorism and the political mid 
social development of individual na- 
tions seems to me more useful than 
today’s worry about where die guns 
and money come from. There are a 
lot of guns around, and money is only 
money. What counts is mere the 
ideas come from. 

© 1985 William Pfaff. 


1 

On Policing 

Americans’^, 
Thoughts I 


T 


By Anthony Lewis 

B OSTON — It could happen at 
Moscow airport. A Soviet dlizen 
has been abroad, visiting the United 
States. Now. on bis return, KGB 
agents go over bis luggage. They find 
American magazines and take them. 
They also take, the citizen's address 
book and his diary, with 80 pages of 
notes on his trip. They ask who saw 
him in America and remark menac- 
ingly that he had “many contacts." 

But that incident took place at the 
Miami airport, not in Moscow. The 
victim was an American, not a Rus- 
sian. And the agents were from Ibe 
FBI, not from the KGB. 

It happened Jan. 16. Edward 
Haase of Kansas Gty. Missouri, was 
returning from two months in Nica- 
ragua. When customs officials saw 
that he had been in Nicaragua, they 
told him an FBI agent wanted to 
interview him. The agent identified 
himsdf as Joe Miranda. According to 
an affidavit by Mr. Haase, the ques- 
tioning began like this: 

“Miranda asked me . . . whether I 
had been contacted by the govern- 
ment in Nicaragua, who I worked for 
there, why I was interested in Nicara- 
gua, where 1 was bom and went to 
school and whether 1 had been arrest- 
ed He concluded by saying that . . . 
the FBI had certain rights, including 
the right to search for subversive lit- 
erature, and that he was going to look 
through my luggage." 

Tbe agent took Mr. Haase’s per- 
sonal address book and diary. He 
also took documents of a group sup- 
porting Nicaragua with which Mr. 
Haase works, and a five-page list of 
organizations concerned with Cen- 
tral America. According to Mr. 
Haase, “Agent Miranda asked 
whether these were pacifist groups." 

Mr. Haase, 32, is an engineer who 
works for a radio station in Kansas 
Gty. He also does some freelance 
journalism. He had with him typed 
manuscripts of two articles he had 
written, one on the Nicaraguan elec- 
tion an d one on a Roman Catholic 
religious holiday in Nicaragua. The 
FBI took those too. 

A little later, as be was taken 
through tbe Customs offices. Mr. 
Haase saw Mr. Miranda and another 
man copying his diary and other 
items on a copying machine. Mr. 
Miranda, returned the material to 
him, remarking that he 44 sure had 
a lot of contacts.” 

Mr. Haase got a lawyer, Michael 
Ratner of the Center for Constitu- 
tional Rights in New York. Mr. 
Ratner telephoned the FBI office in 
Miami, was referred to a supervisor, 
Paul Phillips, and asked dial all of the 
seized material be returned. 

Mr. Phillips refused to return the 
material. He said the FBI wa$ inter- 
ested in it and that it was properly 
"dtsseminabJe.” People were review- 
ing it, he said, and afterward infor- 
mation about it would be sent to the 
Stale Department and the Immigra- 
tion and Naturalization Service. 

Late last month Mr. Ranter went 
to court, in Washington. Federal Dis- 
trict Judge Thomas P. Jackson heard 
argument from him and the govern- 
ment, then issued a temporary re- 
straining order that forbids dissemi- 
nation of Mr- Haase's material and 
requires the agents to retrieve any 
infor mati on they have disseminated 
Until further hearings, it must be put 
in “the personal custody” of the FBI 
director, William H. Webster. 

That is where the incident of Ed- 
ward Haase stands. Reading tbe 
court papers, I found nwself stunned 
that such a thing could happen in the 
United States. Officials make mis- 
takes, yes. But that Customs and FBI 
agents would openly behave like 
thought police, and that government 
lawyers should defend them behavior, 
seems incredible to me. . 

Tbe climate that nurtures such law- 
■ lessness is evident It is the paranoia 
of the Reagan adtmnistraiion toward 
Nicaragua. When President Reagan 
acts as if- that tiny country were a 
mortal threat to the United States, it 
is not surprising that FBI agents 
think they may seize an American’s 
• intimate private documents to save 
other Americans from, the threat. 

Two years ago the Reagait admin- 
istration had to abandon an attempt 
to take from three American journal- 
ists books, bought on the streets of 
Tehran, that reproduced documents 
from the seized U.S. Embassy. The 
administration’s legal excuse then, 
that the books contained U.S. ‘‘se- 
crets,” did not wash. The attempt to 
dedare Edward Haase’s personal pa- 
pers, subversive and use than for in- 
telligence purposes has no excuse. 

Mr. Webster erf the FBI has an 
honorable reputation. He and his 
Justice Depart m e nt superiors should 
disavow this abusive power- now — 
-and remind all FBI agents that the 
^United States is not the Soviet Union 
or South Africa. Their job, and that 
of Customs agents, does not mchide 
policing the thoughts of Americans. 
The New York Times. 


LETTERS TO THE EDITOR 


Divide UNESCO 

In response to “UNESCO Grants 
U.S. Status as Observer" (Feb. IS). 

Most leading Western members of 
UNESCO have talked publicly of 
their wish to leave if all the changes 
they demand are not met by Direc- 
tor-General Amadou Mahtar M’Bow 
— as if UNESCO were his property. 

UNESCO has become un wieldly 
and highly political in recent years, 
but which UN agency is not political? 
Probably the only solution to UNES- 
CO's problems is to break it up into 
regions, e.g.. UNESCO Africa. 
UNESCO Americas, and so forth, 
handing over financial and governing 
responsibilities to the regions. 

LAZARUS JAWIYAMBE. 

Brussels. 


Don’t Proliferate 

Regarding the opinion column “A 
Case for Enlarging the Nuclear Club " 
(Feb. 1 1 ) try Ernest van den Haag: 

Tbe advocacy by Mr. van den 
Haag, a professor of jurisprudence no 
less, erf selective nuclear weapons 
proliferation almost defies belief. He 
appears to argue that West Germany 
in particular would bean appropriate 
candidate to have its own nuclear 
weapons. This counsel of despair (if 
we can't beat it, join it) is misplaced 
for a number or reasons. 

First, it would almost inevitably be 
the first step in a general collapse of 
the international nonproliferation re- 
gime. This is. to be sure, a frail struc- 
ture. but it exists and is all we have. 

Second, to encourage or enable 


West Germany to maintain its own 
midear weapons would further de- 
stabilize an already knife-edge ten- 
sion in Central Europe. 

Third, particularly in the year 
when the Nonproliferation Treaty 
conies up Tor its third five-yearly re- 
view (to beheld in Geneva in Septem-: 
bee), any such action by West Ger- 
many, a party to the treaty, would 
contravene and destabilize the treaty. 

The specter of nuclear prolifera- 
tion along with the manifest f adore of 
the nudear-anned states to negotiate 
verifiable reductions in their arsenals 
is profoundly worrying. Mr. van den 
Haag's suggestion is no help at aCL 

DAVID LOWRY. 

European Proliferation 
Information Center. 

London. • 




tj.' 


%.< 

V- 

, 


'St 


if:# 

F i. 




Fearsat Yalta 

Tbe postmortems on the anniver- 
- saiy of the Yalta conference faded to 
mention a factor that weighed heavily 
on . the protagonists: the latent fear 
that the Western or Soviet side (as the 
case might be) would strike a sepa- 
rate-deal with the Germans: As the 
wax progressed; Stalin became para- 
noiac with this fear. -But also in the 
West the need to “lcecp die Russians 
in the war” at any price colored many 
Allied policies — for it was the RuSr w? 
sianvas Churchill put who “were 
k ill i ng the most Germans.” Among 
the prices paid: the refusal to deal 
with Germany's anti-Nazi resistance, 
and even the Dresden bombing. 

• GEORGE H. VASS1LTCHIKOV. 

London. 


P 


l«- 1 


i y L . > 


*?..■ 

xy.'-js 




! ii.lL 


vL 







BA. 

% 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


Page 5 


By Henry A. Kissinger 

Arms Debate Must Link Policy and Technology 


T HE United States is deep in the annual contro- 
versy over defense appropriations- Advocates 
of cuts trot out the perennial Pentagon rip-offs, 
invoke the urgent need to cut the deficit and appeal to 
Secretary of Defense Caspar W. Weinberger for 
flexibility. 

Mr. Weinberger replies — in tny view correctly — 


that spending Tor security and spending for the nation- 
al welfare are not of the same character. Reducing 


— as they did after the Cuban missile crisis • — the 
West's strategic premises were not revised- 
Some tinkering did take place. A theory was devel- 
oped that established a level of industrial and civilian 
damage theoretically unacceptable to the Soviet 
Union. As the casualties of what came to be known as 
Mutual Assured Destruction amounted to mass exter- 
mination. an esoteric psychological wrinkle was add- 


them are willing to invoke lbe .American nuclear 


guarantee only so long as the consequences are con- 
fined to the United States and its population. 

At the same lime, arms control policy concerning 
conventional weapons is at loggerheads with military 
necessities. The official MATO position in the talks 
dealing with conventional forces would create a lower 
ceiling for them. Those negotiations are now hung up 
on what troops to count, not on the principle of a 
Freeze that would perpetuate the imbalance which has 
been the essence of the West's strategic problems for 
two decades and which is made even more dangerous 
by the Soviet geographic proximity. 

President Ronald Reagan's Strategic Defense Ini- 
tiative is the most recent attempt to overcome the 


domestic spending may cause inconvenience, even 
hardship; weakening defense could over time threaten 
the existence of America. 

But the debate has so far failed to address the real 
issue, which is not money, but the inability to relate 
defense and arms control policy to new technologies: 

• As nuclear stockpiles have grown and nuclear war 
has become equivalent to mutual annihilation, the 
West has refused to race up to the psychological 
impossibility of continuing to rely on general nuclear 
war as a plausible strategy. 

• Such alternatives to all-out war as discriminatory 
targeting, conventional forces or strategic defense 
have remained fitful and inadequate because of de- 


ed: it was not necessary, so (be argument went, for the 
threat of mutual annihilation to be totally credible: 
the Soviets would not risk testing American credibility 
so long as the American threat was sufficiently 
apocalyptic 


This is the eighth in a series of 10 articles by the former 
U.S. secretary of stale. The next will appear April 8. 


military dead-end. 1 support the concept, but 1 fear 
that the plethora or explanations offered on its behalf 
may turn it into a slogan in search of a mission. 

The principal U.S. arms control negotiator. Max M. 
Karapelman. has advocated the defense of missile sites 
in the United States. This would do little to enhance 
the credibility of the nuclear deterrent since it would 
leave the U.S. populations exposed. The criteria laid 
down by Pa ul H. Nitze, the arms control adviser, for 
building a strategic defense system seem unlikely to be 
met. President Reagan, nearly alone, speaks of the 
need to defend the American population as a means to 
escape nuclear devastation. 

But even if research proves this to be feasible, it will 
be a decade and a half before any such weapon can be 
built — and probably longer, since the administration 
has committed itself to negotiate before actual 
deployment. 

The United States is in danger of justifying a strate- 
gic defense for the late 1990s by so emphasizing the 
horrors of nuclear war today that it will wind up with a 
strategy based on weapons it dares not use. stigma- 
tized by an aims control policy that professes to seek 
to banish them without at the same lime developing 
any sustainable alternative for the immediate future. 

in this climate, a debate about budgetary levels is 
peripheral to the central strategic problem: the rela- 
tion of means to ends and or weapons decisions to 
arms control policies. And surgery could be dangerous 
because it would shift in the debate to the wrong issues 
while perpetuating all current dilemmas. The merit of 
individual weapons is not the issue: a reexamination 
of UJS. overall strategy is. 


But the vision of apocalypse was especially debili- 
tating for open societies. Throughout history war 


could be justified as an instrument of national policy 
because the costs of defeat were plausibly worse than 
the costs of resistance. In the age of reciprocal ex termi- 
nation nuclear war itself seems to an increasing num- 
ber of democratic publics as the ultimate horror. 


mestic controversies or the refusal to pay for them. 

• Arms control proposals have too often been in- 
consistent with the necessary adaptations to the new 
technology. 

• The present Pentagon organization and budget 
procedures do not permit a systematic resolution of 
these issues. 

The Reagan Administration has tried to solve these 
problems by large increases in defense spending. But 
the additional resources do not or themselves solve 
doctrinal issues, especially when they perpetuate the 
priorities that are at the heart of America's defense 
problem. 

On the other hand, surgery on the defense budget 
would add another element of confusion to an already 
confused situation. It would lead to a bitter debate 
about the merit of individual weapons rather than the 
nature of (J.S. strategy. 

1 therefore believe that the wisest course this year 
would be to keep the defense budget substanuaily 
intact. At the same time, the administration must use 
the time to deal with the basic issues of defense policy 
and organization. 

Nothing is more important than to draw the proper 
conclusions from this fundamental fact: the strategy 
developed during the decides of nuclear monopoly 
and overwhelming strategic superiority is no longer 
feasible. In the early euphoric days it was possible for 
the West to threaten massive destruction as a counter- 
weight to the Soviet manpower advantage. But once 
the Soviets developed large nuclear forces of their own 


I T will be difficult Tor historians to explain the 
intellectual paralysis that has thwarted a serious 
articulation of alternatives to general nuclear war. 
Part of it reflects profound divisions within the West- 
ern societies that cause some groups to support any 
new weapon regardless of underlying strategy and 
others to Fight any new weapon in order to end the 
arms race. 

U.S. presidents since Richard ML Nixon and Gerald 
R_ Fora have sought to devise alternatives to indis- 
criminate civilian destruction. But new weapons de- 
signed for discriminating targets have bad to run the 
gauntlet of arms control specialists and peace groups 
who think making nuclear war less destructive would 
make nuclear war more likely. No serious person can 
face nuclear war except with the deepest foreboding. 
But to refuse in a world of tens of thousands of 
warheads even to consider less apocalyptic alterna- 
tives is a sophisticated form of nihilism. 

The belter alternative of strengthening convention- 
al forces has received lip service and. within the 
command of the North Atlantic Treaty Organization, 
considerable attention. But all democratic countries 
have recoiled before the financial burden of a serious 
conventional defense. The number of U.S. divisions 
has remained at 1 6 for two decades. Most of America’s 
allies ding to immaculate deterrence — a heavy de- 
pendence on nuclear retaliation, even while many of 



Genscher Flies to Soviet 
For Unscheduled Talks 


Henry A. Kissinger 


the service chiefs — with their competitive and often 
mutually exclusive mandates — is the future of their 
services^ which depends on their share of the total 
budget. Their incentive is more to enhance the weap- 
ons they have under tbeir exclusive control than to 
plan overall defease policy. 

Interservice rivalry thus institutionalized is magni- 
fied by the extraordinary swings of congressional 
mood with respect to lbe defense budget- The sharp 
increase of the 1960s was followed by a relentless 
assault on defense expenditures in the 1970a. The 
build-up by the Reagan administration had strong 
support in the beginning; it now confronts growing 
opposition. 

Faced with such a pendulum effect the service chiefs 
seek to protect their own by turning strategy into 
procurement. In periods of budgetary plenty they 
spread the increase over as many weapons categories 


Reuters 

BONN — Foreign Minister 
Hans- Dietrich Genscher of West 
Germany flew to Moscow on Sun- 
day for nastily arranged talks with 
his Soviet counterpart, Andrei A. 
Gromyko. 

The Foreign Ministry an- 
nounced Sunday that Mr. Gen- 
scher would meet Monday with 
Mr. Gromyko and stay in Moscow 
less than 24 hours. After a stop in 
Finland, he will make a previously 
unscheduled trip to Warsaw on 
Wednesday. It did not say on 
whose initiative the trip was ar- 
ranged. 

Diplomatic sources said Mr. 
Genscher would discuss die U.S.- 
Soviet arms talks starting in Gene- 
va on March 12 and examine ways 
of rewiring Easi-West detente. 

They said Mr. Geoscher's chief 
aim was to press Bonn's view that 
all European nations should be- 
come involved in a new drive to 
improve East-West relations and 
that this should not be left exclu- 
sively to the two .superpowers. 

Mr. Genscher will also urge 
Moscow to avoid reviving animos- 
ities between the Soviet Union and 
West Germany before the 40tb an- 
niversary of the end of World War 
11 in Europe on May 8, the sources 
said. 


“We do not expea any dramatic 
movement in German-Soviet rela- 
tions. but we are hoping these talks 
will give them a nudge in the nght 
direction." a source said. 

The sources said Mr. Genscher 
would meet with General Wqfdecfi 
Jar uzelsk l the Polish leader, during 
a six-hour stopover in Warsaw on 
Wednesday to work out a program 
for a postponed official visit. 

Mr. Genscher called off a trip to 
Poland in November at the last 
minute after Warsaw objected to 
his plans to visit the grave of a 
murdered priest, Jerzy Popie^ 
luszko. 

The sources said both the Mos- 
cow ,-ind Warsaw trips had been 
worked out hurriedly over the past 
few days after informal contacts 
showed Poland and lbe Soviet 
Union were interested in an early 
meeting with Mr. Genscher. , 

The visits seemed likely to be 
seen in West Germany as a boast 
for Bonn’s foreign policy, after set- 
backs last year. 

The East German and Bulgarian 
leaders called off proposed visits 
after Soviet press organizations 
criticized Bonn for trying to regain 
German territories lost to Poland 
and the Soviet Union after World 
WarIL 


DOONESBURY 


\ ***** 

K bbjeue &&& 

1 <6 fiTN 


umrAfis mu xm. but i 
you pom GormwNiu 
HERS, MAN? I TMTALbSPftlSA 
TH OUSHTYOU P fVRAFfWREC- 
retwwi 


as possible. In periods of budgetary stringency they 
tend to cut not the infamous 510.000 wrench but 


U NFORTUNATELY, the current oiganization 
of the Defense Department is a principal ob- 
stacle to this effort. The National Security Act 
of 1947 established a Joint Chiefs of Staff representing 
the heads of the military services. The chairman is first 
among equals; the chiefs operate on the basis of 


tend to cut not the infamous 510.000 wrench but 
something visible and painful to evoke the greatest 
degree of public backlash. This leads me to the follow- 
ing conclusions: 

(a) The defense budget submitted for this year 
should be approved with at most cosmetic reductions. 
It is not suited for political compromises related to the 
deficit. 




HeralOK tribune 

M&UVIAIlrllrwlfiiTWMmllWMhpmMm 

Reaching More Than 
a Third of a Million 
Readers in 164 Countries 
Around the World. 


consensus — a practice that tends to produce a large 
staff, masses of memoranda and the least common 
denominator. 

This procedure would be only time-consuming bad 
not modern technology destroyed the traditional dis- 
tinctions between the missions of the services. Signifi- 
cant conflicts inevitably involve all of the services 
acting in concert with overlapping weapons systems. 

Edward Luitwak in a seminal new book, “The 
Pentagon and the Art of War," has demonstrated the 
paralyzing impact of this state of affairs on operation- 
al planning and procurement. 

The consequences for overall strategy are even more 
worrisome. Strategic planning occurs, if at all in the 
Joint Commands, where the relevant services are 
brought together for specific missions. But the beads 
of the Joint Commands neither serve on the Joint 
Chiefs nor control their constituent dements in 
peacetime. 

By contrast, the inevitable and natural concern of 


mi 

^ ** ^ ^ ^ " 


(bj Before the next budget is submitted lop priority 
ust be (riven to the development of a coherent 


must be given to the development of a coherent 
defense strategy that takes into account the revolution 
in technology and that provides real and immediate 
alternatives to the concept of assured destruction. 
Personally I doubt that there is a cut-rate route to this 
objective. 

(c) Arms control policy should be treated not as a 



negotiating tool after weapons are already designed 
but as an integral part of the budgetary cycle. 

|d) The military organization of the Department of 


YOUPPTHATftt? iSAHSOfe 

MAN.5EEMSUKB 
MXyOtPfiOCXER. oesiTOO. 
ffiAMBOGASHOUB? \‘ 
(pKRTmrsEs&ofiter'-s 

t* fkV 


HEf.GRAMPSf nu 
WULOOK -rimes 
FAMUAR! ii ' 

L 


i !•' r' 


(d) The military organization of the Department of 
Defense should be revised. The powers of the chair- 
man of the Joint Chiefs should be strengthened, his 
staff augmented and missions should be related to 
actual tasks. 


Such an approach should remove national defense 
and arms control from partisan politics. The require- 
ments of U.S. security do not change every four or 
eight years. 

© 1985. Las Angeles Tunes Syndicate 



Ur*.. 

•> J:: 

| 




I 111 

-T/ 













*R?r»sir» wills sum* ii fiiisf 3HHf if s iSs^af sisjissssnsi 15 1 



Page 6 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


India’s Rama Rao: Idol Seeks New Victory 


By San joy Hazarika 

iVw York Tima Seme* 


ALLAMPURAM. India — N.T. 
Rama Rao was seated on the roof 
of a station wagon at the head of a 


territory. The Congress (I) Party 

that Mr. Gandhi leads already con- 
trols eight of these legjslatures. 


The balloting began Saturday 
id will resume Tuesday. The baf- 


22-vehicle motorcade sweeping 
through the towns and villages of 


through the towns and villages of 
his native state. 

Mr. Rama Rao. a former film 
actor who is now the chief minister, 
or political leader, of Andhra Pra- 
desh. was playing one of the most 
crucial roles of his career. He was 
seeking a new mandate in balloting 
on Tuesday for the state legislature 
of Andhra Pradesh. 

Mr. Rama Rao is leading a drive 
to defeat Prime Minister Rajiv 
Gandhi's Congress (I) Party for die ■ 
third tim e in three years. 

In the general election last De- 
cember, Andhra Pradesh was the 
only state to resist the Gandhi elec- 
toral wave, and In the new state 
elections he hopes to win a lugger 
national role for himself than the 
one he has played so far. 

About 280 million voters, or two- 
thinls of the electorate, are eligible 
to vote in the legislative elections in 
1 1 of India's 21 stales and in one 


and will resume Tuesday. The bal- 
lots are not to be counted until 
after Wednesday. 

The eight states controlled by 
Mr. Gandhi's party that are hold- 
ing elections are Maharashtra. Gu- 
jarat, Rajasthan, Himachal Pra- 
desh, Madhya Pradesh; Uttar 
Pradesh, Bihar and Orissa. Also 
voting are Andhra Pradesh. Karna- 
taka, Sikkim and the union territo- 
ry of Pondicherry. 

There were reports of violence 
Saturday night, including 20 
deaths, in scattered incidents, prin- 


the opposition Janata Party is wag- 
ing a strong fight. 

. In Andhra Pradesh,- even Mr. 
Rama Rao’s critics acknowledge 


that he is well ahead of his oppo- 
nents. A daylong drive under a blis- 


nents. A daylong drive under a 
taring sun through the rich rice and 
sugar cone belt of the West Goda- 
vari district recently helped to ex- 
plain why. 

Entire villages emptied onto the 
road to greet Mr. Rama Rao in 
scores of unscheduled meetings. 
The villagers shouted slogans of 
support. Women threw rose petals 
at him, and some even washed the 
roads in his honor. 


said near here that he planned to 
amend laws to enable women to 
inherit land. He spoke in Telegu, 
the official language of Andhra 
Pradesh, a state of 53 million peo- 
ple. 

The Telegu Desam, Mr. Rama 
Rao’s party, and the Janata Part)’ 
in Karnataka both came to power 
in January 1983 elections, in which, 
for the first time since indepen- 
dence. Congress (I) was defeated in 
the two states. 


Both states dissolved their as- 
semblies midway through their 
terms because of political mstabfl- 


cipally in Bihar in northeastern In- 
dia. The turnout was reported to be 


dia. The turnout was reported to be 
moderate. 

Most of the national attention 
has focused on the election in An- 
dhra Pradesh, a southeastern state 
bordering on the, Bay of BengaL 
The Congress (I) Party is widely 
expected to win easily in ail the 
other states, with the possible ex- 
ception of Karnataka, which bor- 
ders on Andhra Pradesh and where 


BROADCASTING TO CABLE COMPANIES 
IN EUROPE &THE UK VIA SATELLITE 


C H A N N E L 

PROGRAM, MONDAY 4th MARCH 


UK TIMES 13.35 FAMILY 

14 JO NEW ANIMAL WORLD 

1500 SKY TRAX 1 

1545 SKY TRAX 2 

1630 SKY TRAX 3 

1730 MR S3 

lajQQ THE LUCY SHOW . 

1830 THE GREATEST AMERICAN HSIO 
18.20 VEGAS _ 

20.10 THE UNTOUCHABLES 
21.05 • ICE HOCKEY 

22.10 SKY TRAX 


Crowds listened intently, almost 
rapturously, as the powerfully built 
figure with dose-cropped hair and 
aquiline nose spoke. He cited his 
achievements, outlined his plans 
and urged the villagers to support 

him. 

"We are not bothered about his 
party," said Valuri Ramakrishnan, 
a fanner from the village of Kori- 
mulfa* near here. “We are only con- 
cerned about Rama Rao, and we 
are with him wherever he is." 

A companion. V. Pondurang, 
said: "We are supporting him be- 
cause of his good deeds. He also 
has promised lower electricity taxes 
for our farms." 

The two were waiting with about 
3,000 others near a small lake as the 
chief minister briefly rested before 
starting another round of cam- 
paigning. 

At his public meetings. Mr. 
Rama Rao talks frequently about 


ity. The 10 other legislatures up for 
election were to have completed 


election were to have completed 
their five-year terms in June. 

In Andhra Pradesh. Congress (I) 
backed defectors from Mr. Rama 
Rao’s pany last summer in an ef- 
fort to topple him. A state governor 
appointed by the late Prime Minis- 
ter Indira Gandhi dismissed Mr. 
Rama Rao as chief minister in Au- 
gust, but a surge of public support 
led to his reinstatement within a 
month. 



U.S. Sees 


Progress by 
South Africa 


On Apartheid 


Ifca AaooaMd 


By Bernard Gwerczman 

.Vo* liil rimes Sprirf 

WASHINGTON -The Rea*** 
administration has issued a polio 
statement on South Africa tin 
seeks to balance the admrnistni 
lion's concern about the recent ar 
rest of opposition leaders with con 
tiiiued backing for President Pictc 
W. Botha’s program of change. 

Faced with what it regards as . 
growing movement in the Unite. 
States against its policy of seekin 
"constructive engagement" wit 
the South African government, ih 
administration insisted iha 
changes in South Africa to alter ih 
apartheid system were genuine.- 1 
recent weeks, there have been daU 
pickets at the South African En 




. 1 .,. «* 


Posters of N.T. Rama Rao, left, and Rajiv Gandhi in Hyderabad, capital of Andhra Pradesh. ^ 


In a recent interview here. Mr. 
Rama Rao said, “Andhra Pradesh 
has been a stag e that has intro- 
duced me to the political scene of 
the country. I have no ambitions, I 
want to serve.” 

He said he expected to win more 
than the 202 seats that his party, 
when it was unified, controlled m 
the 294-member house in 1983. 


Pakistan Vote: A Sign of Relaxation? 

Turnout, Results May Reflect Nudge Toward Civilian Rule 


nonuc sanctions. 


the “good deeds" riled by bis sup- 
porters: rice at the equivalent of 9 


CONTACT SKY CHANNEL. SATEUrTE TH£VI9aN PIC FOB RJRTHE8 INFORMATION 
TELEPHONE LONDON (01) 636 4077 TBJEX 266943 


i porters: rice at the equivalent of 9 
cents a pound, free lunches for 
schoolchildren, mass housing pro- 
jects, subsidies for village women 
to acquire saris and pensions for 
the old and widows. 


Amid cheers and applause, espe- 
cially from women. Mr. Rama Rao 


Mr. Rama Rao, who won the 
leadership of Andhra Pradesh in 
January 1983, also spoke of a na- 
tional opposition party that he said 
he planned to organize in May. 

He said the party would seek to 
create a balance between New Del- 
hi and the states, which he says are 
too dependent on the central gov- 
ernment. “I want to do the best for 
my country," he said. 


By Sreven R. Wei smart 

Xev York Times Service 

KARACHI, Pakistan — It was 
easy for P res i dent Mohammed Zia 
ui-Haq's critics to rii-gnis s last 
week's election in Pakistan. 

Hundreds of political figures had 
been arrested. Campaigning was 
hampered by a ban on political 
parties, processions, rallies and 
even loudspeakers. The govern- 
ment did not even bother to specify 
the powers of the National Assem- 
bly bring elected. 


Yet when the results were in, 
Pakistan had apparently nudged it- 
self toward a semblance of repre- 
sentative government. After nearly 
right years of martial law, it seemed 
possible that General Zia might 


NEWS ANALYSIS 


stop temporizing and restore a 
measure of civilian control. 

“It is now plain that the people 
are politically as alive and awake 
today as ever before," said the 
newspaper Dawn, which called for 
'Tull constitutional and political 
freedom." 

The election surprised the ex- 
perts for several reasons. The turn- 
out was nearly S3 percent, in spite 
of opposition calls for a boycotL 
And the electorate showed its inde- 
pendence by defeating seven mem- 
bers of General Zia's cabinet and 
dozens of his lower-level support- 
ers. 


Many analysts thought the elec- 
tion also showed the resilience and 
resourcefulness of General Zia. 
who they say has often been under- 
estimated by his critics. 

In P akistan, the organized oppo- 
sition may have misjudged him. 
Led by former officials who com- 
mand broad support, these oppo- 
nents include both followers and 
critics of Zulfikar Ali Bhutto, the 
prime minister who was deposed by 
Genera] Zia and later executed. 

Had they contested the election, 
they might have been successful 
enough to force General 2a to deal 
with them for the fust time: Now 
they may be left on the sidelines. 

The election also surprised U.S. 
diplomats who reflect Washing- 
ton's ambivalent feelings toward 
General Zia, an often frustrating 
and troublesome ally. 

Time and again, American diplo- 
mats have been unable to predict 
his moves. Yet U.S. policy in the 
region is dominated by the fact that 
Washington has swallowed its mis- 
givings and cast its lot with Paki- 
stan. 

General Zia’s takeover in 1977 


father. Despite appeals from Presi- 
dent Jimmy Carter and other world 
leaders. Mr. Bhutto was hanged in 
April 1979. 

Relations hit bottom after Nov. 
21 of that year, when a mob de- 
stroyed the U.S. Embassy in Islam- 
abad, killing two Americans and 
two Pakistani employees, after a 
false report circulated that the 
United States had been involved in 
the seizure a/day earlier of the 
Grand Mosque in Mecca, Saudi 
Arabia. 

When General Zia refused to 
open his nudear power program to 
full international inspection and 
safeguards. Mr. Carter suspended 
aid except for rood assistance. 
There has been suspicion that Paki- 
stan has attempted to make nuclear 
bombs. 

Nazir Ahmed Void, a Pakistani 
in touch with officials in Islam- 
abad. was indicted last July in 
Houston, on charges of trying to 
export timing devices that can trig- 
ger nudear weapons. Pakistan said 
that Mr. Vaid had been acting on 
his own and again denied that it 
was making a bomb. 

But numerous reports of Paki- 
stani attempts to obtain nudear 
weapons technology have prompt- 
ed France and Canada to suspend 
their nuclear aid programs, Even 
Pakistani officials say they have 
developed the capacity to* make 
atomic weapons, a prospect that 
also alarms many members of Con- 
gress. 

In spite of these difficulties, the 
United States came to terms with 
Pakistan after December 1979. 
when the Soviet Union sent troops 
into Afghanistan, a neighbor of Pa- 
kistan. 


The statement on Friday, wha, 
the State Deportment said was i 
sued at the request of Secretary ■ 
Sure George P. Shultz, said, "it 
the judgment of the United Stat> 
government that a genuine proce 
of reform is under way" in Soui 
Africa. It called on South Africa 
government and opposition leade 
to take "courageous steps" to er 
the stalemate that it said h, 
blocked communication betwet 
them. 

The administration also dab 
rated on a statement it issued k 
month expressing regret at the i 
cent arrest in South Africa of sew 
a) opposition leaders, who are to 
tried for treason. The arrests ha 
increased criticism here and 
South Africa against the Bot 
government, on the grounds tf 
they showed the admmisuati 


was wrong to take seriously A 
Botha's out lor dialogue. 


Botha's cult for dialogue. 

But Friday’s statement, while 
peating that the arrests “appear 
consistent with the new ratpha 
on dialogue and negotiation wh 
the government itself has i 
dared," did not alter its support 
the announced “dialogue policy 

“It is the judgment of (be Onr 
States government that a genu 
process of reform is under way 
South Africa and that the gave 
mem there is determined to m> 
down the road of construct 
change away from apartheid,’ 
said. “Important decisions s 
commitments have already b 
made.” 

After listing same of the st 
that the administration praised, 
statement said that, given the a 




to improve the overall political 
mosphere. “we view with rearet 


ushered in a particularly bitter pe- 
riod in Pakistan-U.S. relations. 


First he repeatedly broke his 
promise to hold elections. Then, his 
government tried and convicted 
Mr. Bhutto for complicity in the 
murder of a political opponent's 


In 1981, President Ronald Rea- 
gan and General Zia agreed to a 
six-year. $32-billion military and. 
economic aid package, including 40 
F-16 jet fighters. India was 
alarmed, but Pakistan insisted that 
the planes would be used only .to 
protect its northern border with 
Afghanistan. Pakistan has since 
managed to absorb nearly three 
million Afghan refugees. 

The Reagan administration has 


tended to see a brighter side to 
General Zia’s rule. UJS. officials 
say that, for all the reports of his 
repressive actions, he has not kept 
all political opponents in jail 


Zia Seeks to Bolster President, 
limit Prime Minister , s Powers 


Seize 



Reuters 

ISLAMABAD, Pakistan — 
General Mohammed 22a ul-Haq 
has introduced constitutional 


stages as martial law was lifted in 


a men d m ents to increase the powers 
of the presidency be now bolds and 
curtail those of Future prime minis- 
ters. 

The amendments to the suspend- 
ed 1973 constitution will also cre- 
ate an 1 1-member military-civilian 
national security council to advise 
the government m a national crisis. 

General 22a has been president 
since 1978 in addition to holding 
the all-powerful post of chief mar- 
tial law administrator he a«mmwt 


Under the 1973 constitution, the 
prime minister was elected by the 
national assembly. But with the 
amendments, the prime minis ter 
will be chosen by the president. 

He will also appoint cabinet 
ministers, provincial governors, 
armed forces chiefs and be the 
armed forces supreme commander. 
Previously all these officials were 
appointed by the prime minister. 

“That was a meaningless and ri- 
diculous division of pqwere," Gen- 
eral Zia said. “The prime' minister 


mosphere. “we view with regret 
government's decision to arrest ■ - 
hold treason trials for a signific 
number of opposition leaders? 

It said the derision tosedfiJS 
trials “detracts from the g# 
ment’s own stated conuniunca- 
seek a dialogue with black leade 

The administration's latest st 
meat was consistent with its i 
encouragement of Mr. Bote, 
plans to loosen up some aspect: 
the country’s apartheid pohey. ' 
Botha has admitted people 
mixed and Indian racial oca 
into Parliament for the first do ■ 

But the administration’s po - 
toward South Africa has incr 
ingly been criticized by raanym 
bers of Congress, who have arg - 
that the administration is not 
ing a firm enough stance with - 
South African government. 

In asserting that the U5.gov " 
ment believes “a genuine piece 
reform" is under way, the S 
Department cited the follownj 

It said the South African gov 
ment had halted the forced res 
als of blacks to tribal "homriu 
while that policy was being 
viewed, it noted approvingly'' 
the government had decided to , T 
with blade community leaded- i 
the Crossroads squatter settler . 
outside Cape Town on a plat 
urban renewal for the area, a 
derision to make it easier foc> 
blacks to obtain urban resid 
rights. 

“However, it is also clear (ha “ 
atmosphere for a broad reform 
cess has not yet fully devdopec 
that a meaningful dialogue 
tween all South Africans. * 
President Botha called for ii 
Jan. 25 speech, is indeed esa 
to this process," the statement 


. -a * 
- j .-** 


JMf 






^ ' 'l.irkrl* 




on seizing power in July 1977 bom 
Prime Minister Zulfikar Ali 
Bhutto. Mr. Bhutto was later 
hanged. 

But now the office of president, 
which General Z2a will hold for a 
further five years because of a ref- 
erendum in December, will have 
sweeping powers, some previously 
exercised by the prime minister. 

General Zia said the amended 
constitution would be revived in 


should be powerful but the presi- 
dent should also not be so power- 
less as to be ineffective.’’ 

Genera] Zia announced the 
amendments after elections last 
week for a national assembly and 
four provincial assemblies that he 
barred political parties from con- 
testing. 

The opposition Movement for 
the Restoration of Democracy said 
General 22a had effectively demol- 
ished the parliamentary structure. 


Bangladesh Yol 
Canceled, Marti 


Law Reimposet 


EVTERTADfMENT 


tWMo ufL 


United Prrtt intcrituiiimd 

DHAKA, Bangladesh — 
government of Lieutenant Gf ■ 
Mohammed Hussain Ersha< .. 
canceled parliamentary eta ' 
set for April. 

The announcement on Salt 
came a day after the general ^ 
posed martial law and bann 
political activity. The Bangl 
Election Commission sail 
April 6 contests would not be 
in line with General Ershad’: 
sion to schedule a March 26 
endum on whether he shouli 
linue as president. 

In a warning to opponents, 
era! Ershad said that attorn 


■LA-Jl 


-i ii. 


20 h. Diner donsant 
Champagne et Revue 
440 F 

22 h or 0 h 

Champagne et Revue 
300 F 
PRIX NETS 
SERVICE COMPRIS 


disrupt the peace would be 
dealt with by the military. 


“The days of city-based p 
e over and politics eon fir 


The International Herald Tribune. Bringing the World’s Most Important News to the World’s Most Important Audience. 




are over and politics eon fir 
slogans, newspaper statemen . 
scribbling on walls must conn 
end," he told troops during 
to an army base. 

He said the armed forces 
deal forcefully with any out I 
of disorder. The military g. 
ment ordered urban reside 
remove all unri-goternmen 
guns and posters from then 
and said those failing to 
would he punished. 




■ * * 


iy \ 






MONDAY, MARCH 4-, 1985 


HcralbS-'Eribunc 


BUSINESS /FINANCE 


Page 7 


EUROBONDS 


Convertibles Supplanting 
Fixed-Rate Dollar Issues 


By CARL GEWIRTZ 

Iniernanonal Herald Tribune 

P ARIS — The fixed -rate dollar sector of the Eurobond 

market died last week. And in its place investment bankers 

resurrected the convertible-bond sector. 

That convertibles suddenly become fashionable again should 

come as no surprise. Stock prices in New York. Tokyo and 

Frankfurt set record highs last week. What better time can a 

company choose to offer bonds convertible into shares at a hefty 

premium over the prevailing price? 

The Japanese, of course, have been floating equity-linked 

paper in virtually all sectors of the Eurobond market for some 

time and continue doing so. — — — - 

Now. U.S. firms — which up Eurobond Yields 

to now have preferred the For W«* Ended Feb. 27 

New York market for the u - 53 19 tHrn1 ' •h *’ 1 lnst - — two * 

better terms available there UA * lonfl ,emi * ind - % 

owter terms avauaoie mere UJLJ medium term. ind. _ lias % 

— are tapping the market. Cons medium term 1259 % 

Newmom Mining, in fact. French Fr. medium term 1159 % 

had intended to launch a do- 'KfS 

^ , . -.I.. rcnti, mH Insr. 7A8 % 

mesuc issue but switched to Yen ig term, mn inst. _ 7 J 3 % 

the Euromarket because ecu short term 9 Ai % 

bankers thought the com pa- ^ cu niedium term uua % 

ny could gel .more favorable Iua 5 K 'S % 

terms here than at home. Its flx in term, inn inst. 10.22 % 

560 milli on of 25-year bonds FLx medium term 9 S 1 % 

are convertible into shares of Dv w " Lu ™* our * E *- 

DuPont (acquired when Du- u . . - 

Pont took over Conoco). Market Turnover 


Newmom will pay an an- 28 


Non-do Her 
Dollar Equivalent 


nual coupon which is export- Toto , 

ed to be set at 814 to 8 V* cedei 13,1457 10532.9 2512 a 

percent and will sell its Du- Eurociear tB .7417 177527 158&50 

Pont shares at a premium ex- —■ — — 

pected to be set at 17 to 20 percenL 

The attraction, of course, is the magic of the DuPont name. 
Anyone currently buying the stock, trading around S53.125, 
would earn an annual income of just over 5 Vi percent as the 
dividend is $3. The gain of 3 percentage points investors pick up 
on the Newmont bond effectively reduces the premium they will 
pay to buy the shares. 

Informed sources say that Newmont had been expecting to pay 
a 9- percent coupon to float the issue in New York. 

Bankers here say Louisiana Land & Exploration's $100 million 
of 20-year bonds is attractive because they consider the borrower 
a potential takeover target, in which case the stock price could be 
driven sharply higher from its current 536.50. In addition, ana- 
lysis say the share price is at a substantial discount to the assets of 
the company. 

1 0U1S1ANA stock pays an annual dividend of SI, a yield of 
2.7 percent — giving bond purchasers a big increase in 
J income with a coupon of 9 V* percenL The higher income 
earned holding the bond rather than by immediately buying the 
stock effectively reduces the premium set of the 542- per-share 
conversion price. 

The Swiss, who have long preferred the U.S. equity market to 
the classic bond market, were the biggest buyers of these two 
issues. 

This week, Britain's Cadbury Schweppes is expected to launch 
a dollar-bond issue convertible into shares. 

As usual, the Japanese were out in force last week Citizens 
Watch offered $50 million of 3-percent bonds and Kajima $40 
million of 31’8-percent paper. The 15-year issues are expected 10 
be convertible into shares at around a 5-perceni premium. 

The attraction here is the currency. These bonds will have a 
fixed exchange rate into yen and if the dollar drops the apprecia- 
tion of the bond price just from the currency gains could be 
substantial. 

Mazda Motor has announced that it plans to soon offer $100 
million of convertible bonds. 

In the Deutsche mark sector, Japanese issuers launched four 
convertibles last week Tsubakimoto Precision Products offered 
60 million DM of 3&-percent five-year bonds which are to be 
convertible into shares at a premium of about 5 percenL Zen- 
chiku, carrying a guarantee of Mitsui Bank, is selling 35 million 
DM of 3%-percenl five-year convertibles. 

By contrast. Tod Ltd. (guaranteed by Sumitomo Bank) and 
Toyobo (guaranteed by Dai-Ichi Kangyo) are offering five-year 
bonds bearing warrants to buy shares. Tocfs bonds carry a 
coupon of 3% percent and Toyobo’s 344 percenL Details on the 
(Continued on Page 9, CoL 1) 

To Our Readers 

The New Eurobond Issues table is not being published in today's 
editions because of technical problems. We regret the inconvenience 
to readers. 

Last Week’s Markets 

All figures are as of dose of trading Friday 


Slock Indexes 

United States 

UatWfc. Pnrr-Wk. % ChYe 

DJ Indus 1399.36 137554 +155 

DJ lilil 14B50 14947 —058 

DJ Trans — 63030 625.11 +143 

58. P 100 15151 17452 + 253 

S4P 500 18123 17937 +2X5 

NY5E CP 10654 10451 +1.95 

nuBfraoi flmlWW/BaduSeeurWBS 


FTSE 100— 175050 
FT 30 97330 


176930 —143 
97350 Uneh. 


Hang Sene- 1401.15 1435.17 —237 


Nikkei DJ- 1241234 1214756 +218 


Commerzbk 1.196.40 1,17430 +1.71 

NarUS iaderes hvn James Carets Co. Lrttn 


Money Rates 

United States u&m. prim 

Discount rate 830 830 

Federal funds rate— 875 850 

Prime rate 1050 1050 

Japan 

Discount 530 550 

Call money &50 6% 

60-day in te rbank 630 635 


Lombard — 630 630 

Dvo might 630 545 

l-manlti Interbank— 6.10 55S 

Britain 

Bank base rate— M30 1430 

Call money Wte 14** 

3-monlh Inlerbonk — 13 IS/T6_141FI6_ 

Dollar LsdWk. p warn. %otw 

Bk End Index, 15430 15510 —052 

Gold 

London sun. (lx. S 2873S 29840 —174 

(UNeagoUiUb Arm OSbaiRj tram Jama Qwt 


Currency Rates 


Late interbank rates on Mar. 1 , excluding fees. 

Offiaal fixings for Amsterdam, Brussels, Frankfurt, Man, Paris. New York rates at 
4 P.M. 


Anudonfam 

BratselE(a) 

Frankfurt 

LaiMMn(D) 

Milan 

NewYorktei 
Ports 
Tokyo 
turfdi 
1 ECU 
1 SDR 


_ Currency 

Earn*. 

0703 AustraUanS 
ojuts Aastrloa scMltbsy 
05142 Mlflien tin. franc 
07184 CanmUao t 
0583s DOBBS krone 
a 14*4 FinnisO markka 
OJXin OrvUc dractma 
CL 1 33? Hsao KoooS 


2F. Yen 
J325B “14557 y 
23517 2S593- 
117.15- L2S4 * 
10675 27877? 
72730 8303 

2366 260.15 
35725 S.9J- 

9038 

1.1006 - 

13993 173323 
17412 249.109 


Dollar Values 

i p 

Currency 

E90hr. U, 

avail i rail t i 

00613 isroall shekel 7 

IM KnnflldlMr 
03869 Moknt. rlnovlt 2 
01037 Norvy.krvne 
0355 PHIL P9S9 U 

03056 PMOP* 1 

02777 Sown rival 3 


_ * Carroncv 

Cootv. I 

04403 Siaaoporr s 
04V25 S.AfrKflBraod I 

00312 S. Korean wan i 

030S4 SpwLPOMta 
01052 SaetL krooa 
03254 Taiwan I 
Q335A Thai Ooht 
02723 UJLE.dktani : 


E Sterling: 1.1 571 liisnt 

lal Commercial Irate MM AmowO* MKSCd loom- onooqonO tel amount* needed rotxn one Hollar J-| 

Uidts ol 108 »*) Units oMJHOWl Units ot UMW 

SwlwHWtBsrtsi; Banco Cammerclaie itotuma leallan): cnemicai 
de Par * (PaHsU hmf « 

Internationale d'lneeehssemenl (dinar. ttvoUdirhanu. other onto ham Reuters and AP 


Japan 
Warns 
Car Firms 

Officials Urge 
Export Restraint 

By Sam Jameson 

Lpt Angehs Times Sernrr 

TOKYO — Japanese officials 
have warned Japanese automakers 
and their U.S. partners to refrain 
from unleashing “a flood or ex- 
ports” after President Ronald Rea- 
gan’s decision not to seek a fifth 
year of restraints on passenger-car 
exports to the United States. 

Keijiro Murata, minister of in- 
ternational trade and industry, said 
Saturday that “it is clear that a 
flood of exports after the restraints 
are lifted is not desirable. It is im- 
portant that the automotive enter- 
prises of both Japan and the Unit- 
ed Stales conduct exports with 
prudence based upon good sense." 

Mr. Murata did not name any 
American auto company, but for 
more than a year. General Motors 
Corp. has sought to increase, by 
about 233,000 units, its purchases 
of passengers cars from Isuzu Mo- 
tors Ltd. and Suzuki Motor Co., 
the Japanese firms in which it holds 
a minority interest. 

Chrysler Corp., which had advo- 
cated keeping the quotas in effect 
at virtually the same level as at 
present, did an about-face Thurs- 
day, announcing that it wanted to 
procure an extra 200.000 cars from 
Mitsubishi Motors, in which it 
owns a 15-percent share: 

A Chrysler vice president. Rob- 
ert Miller, made that revelation in 
testimony before a subcommittee 
of the House Ways and Means 
Committee. 

Mr. Mora la’s comment was seen 
here as an explicit warning to auto- 
maton of both countries that the 
Ministry of International Trade 
and Industry might intervene to 
control exports if an explosion of 
shipments occurs after April I. 

Under the restraint program that 
ends March 31, eight Japanese 
automakers are allocated specific 
quotas for exports to the United 
Slates. The total limit is 1.85 mil- 
lion cars. 

Takao Fujinarni, chief cabinet 
secretary, also issued a statement, 
saying that "prudent exports based 
upon good sense” would be “im- 
portant" 

Mr. Figinami said that the gov- 
ernment would let each firm decide 
for itself what reaction to take to 
the lifting of the quotas. Bui he 
added that the firms should react 
“with a feeling of self-restraint" 

Mr. Fujinarni, who coordinates 
of cabinet activities on befaalf of 
Prime Minister Yasuhiro Naka- 
sone, also declared that Japan 
would continue to go forward with 
measures to open its market to im- 
ports, especially in the field of lele- 
commimica lions equipment, as Mr. 

(Cortiraaed mi Page 9, CoL 1) 


The Semiconductor Industry’s Pace 


70 | SemfconductorStoch Performance 


| ■; -i’ vt - rv ' i : 

j:-: < : "■* ~ ' '■■■?+*. 'y _■ iy ' ■' •* 


Baok-to-BHI Ratio 
In tha Semiconductor f.SQ 
. Industry, by month “ 




Fraser Receives 
Takeover Bid 
Of £600 Million 






wwkty Sunaam 6 Poor'i Max et oomieandoctor slock orteao. 
Source: ManafloU Stock Chart Swvfoo 


-Ttw bnok-to-B* ratio la ■ a-moMti moVkig 
■Miotn of aomlconduotor orOerm vonuo 
doHorUBnga. 


Swrucofitfucw Industry 
40 o oo m teB,OH te 0IHI 0f 


The Hew Yort. Times 


Revival of Sales for Silicon Valley 
Still Lurks Beyond the Horizon 


By Thomas C. Hayes 

AW York Times Service 

LOS ANGELES — The sales revival that Sili- 
con Valley's chip makers have been waiting for 
appears to be several months away. The computer- 
chip manufacturers probably will do no better this 
year than match last year’s production, industry 
analysts say. 

Intel Coro., one of Silicon Valley's premier com- 
panies, underscored the seriousness of (he indus- 
try's troubles when tt announced last week that its 
first-quarter sales were likely to mn 15 percent 
below the $432 million it registered in the fourth 
quarter. 

Gordon E. Moore, chairman and chief execu- 
tive, said that even with recent cost-cutting moves, 
“it appears first-quarter net income could be near 
break-even.” 

The semiconductor makers are feeling intense 
competition and they are marking time while their 
customers continue to absorb last year's huge out- 
put of chips. 

“The weakness in new orders has been com- 
pounded by added capacity becoming available,” 


slid Elliot Levine, an analyst with the First Man- 
hattan Co. “The industry did a superb job of 
ramping up for new business last year, and now, 
unfortunately, it is paying the price.” 

Intel’s cautionary statement on Feb. 27 indicat- 
ed that its situation was “a little worse” than what 
most Wall Street analysts had envisioned. The 
statement came only nine days after it announced 
its first layoffs In 10 years, covering 900 employees 
— about 4 percent of its work force. 

Several other companies, including Texas In- 
struments lnc„ National Semiconductor Coro.. 
Monolithic Memories, Inc„ ZiJctg Ino, SEEQ 
Technology and Micron Technology, Inc., also 
recently announced layoffs or spending cutbacks 
to cushion the unexpectedly steep and protracted 
drop in orders since the middle of last year. 

“This is a temporary correction, but it is very 
sharp,” said Michael J. Stark, a partner with Rob- 
ertson. Colman & Stephens, a brokerage in San 
Francisco. 

Semiconductors, the solids that conduct electric- 
ity between metals and insulators, are the lifeblood 

(Continued on Page 9, CoL 4) 


By Bob Hagerty 

haemational HerahJ Tribune 

LONDON — House of Fraser 
PLC. which owns Harrods and 
about 100 other British department 
stores, was holding talks late Sun- 
day aimed at reaching agreement 
on a takeover offer from the al- 
Fayed family of Egypt valuing the 
company at about £600 mill ion 
<5645 million). 

A spokesman for the family said 
they were seeking agreement from 
Fraser’s board on a bid of about 
400 pence a share for die 70.1 per- 
cent of shares the family does not 
already own. 

The al-Fayeds acquired 29.9 per- 
cent of Fraser’s shares last Novem- 
ber from Lonrfao PLC for £138 3 
milli on, or 300 pence per share. 

The family indicated then that it 
was interested in eventually buying 
the rest of Fraser, Britain’s largest 
department store group. 

Buoyed by takeover rumors, Fra- 
ser shares dosed Friday on the 
London Stock Exchange at 346 
pence, up 30 pence from a week 
before. 

Other possible bidders for Fraser 
indude Lonrfaa a conglomerate 
with substantial agricultural and 
trading operations in Africa, and 
Sears Holdings PLC, a British re- 
tailing gjanL which is unrelated to 
Sears, Roebuck & Co. of the Unit- 
ed States. 


West German Builders Fight to Stay in Business 


By Warren Getler 

International HerahJ Tribune 

BONN — West Germany's 
chemical, heavy-machinery and 
electrical sectors are booming and 
giving rise to expectations that the 
economy will grow by 2.5 to 3 per- 
cent this year. But the economy has 
an Achilles heel: The construction 
industry is struggling with overca- 
pacity, declining orders and large- 
scale unemployment. 

Bankruptcies in the construction 
sector have accelerated faster than 
all other industries, with 1,835 
cases in the January-Noveraber pe- 
riod last year exceeding the full- 
year total in 1983 of 1.732 company 
failures. Huia-Hegerfeld AG. Ger- 
many’s llth-largest construction 
group, filed for bankruptcy last 
month, sending shivers through the 
industry. 

Construction's troubles cannot 
be easily overlooked —the sector is 
the largest single contributor to 
West Germany’s gross national 
producL a measure of the value of a 
nation’s goods and services, includ- 
ing income from foreign invest- 
ments. The industry generated 210 


billion Deutsche marks (about 
S62.68 million at current exchange 
rates) last year, or about 16 percent 
of the inflation-adjusted GNP. 

In more prosperous times, the 
industry has a labor force of 1 mil- 
lion. but currently 200,000 are un- 
employed and about 300,000 are on 
short shifts. The industry’s unem- 
ployment rate of 20 percent is far 
above the 10.6-perceni overall un- 
employment rate in Januaiy, re- 
flecting in part the construction in- 
dustry's higher sensitivity to bad 
weather. 

The severe cold weather in Janu- 
ary and February only adds to the 
skepticism about construction’s 
prospects this year. 

But Gflnther Herion, president 
of die West German Construction 
Industry Association in Wiesba- 
den. says that bad weather is not 
the root of the problem. 

“It's not because of bad weather 
in the last two months that work in 
the construction industry has virtu- 
ally stopped," he said. “It’s struc- 
tural; it's because the industry sim- 
ply doesn't have orders. For 1985, 
we see a drop in construction vol- 


ume of at least 2 to 3 percenL 
probably more, despite 2 lo 3 per- 
cent growth in the overall econo- 
my” 

Mr. Herion said, “Order volume 
has reached its lowest point since 
World War II,” with an order back- 
log in Januaiy of only 1.7 months, 
compared with the previous record 
low of two months in January 1983. 
New contracts for. home buOding in 
December fell 30 percent from a 
year earlier, he said, which com- 
pares with a 19-percent. drop in 
orders for full 1984. 'Overall cor£ 
structioa industry orders fdl 5.8 
percent m 1984 from 1983. 

“What the recent order figures 
indicate is that the export-induced 
economic recovery here is not ben- 
efiting the construction industry,” 
Mr. Herion said. “With orders on 
band as low as they are now, there 
will be no recovery in industrial 
construction at least for the first 
half this year.” 

Oscar Schneider is West Germa- 
ny’s minister for regional planning, 
construction and urban develop- 
ment. Id an interview, Mr. 
Schneider said the prospects for a 


dramatic improvement in the 
building industry are slim this year. 
The best the industry can hope for 
is a gradual realignment of supply 
with weakened demand, be said. 

“What can help is anting con- 
struction capacity by 20 to 30 per- 
cenL and, on the demand rick, we 
could see the federal, state and mu- 
nicipal governments do more in- 
vesting in public works, for exam- 
ple, in expanding and modernizing 
the national rail system and cable 
networks,” Mr. Schneider said. _ 

He riiid' municipal governments 
alone could add at least 5 billion 
DM this year to their budgets for 
dty-modanization projects. . 

But Mr. Schneider draws a dis- 
tinction between ha support for 
more public spending on an ad-hoc 
basis and the need for anew emer- 
gency construction subsidy pro- 
gram, such as the one initiated by 
Bonn in the fall of 1982. 

“We want no dirigisme " Mr. 
Schneider said, using the French 
word for state economic interven- 
tionism. He was alluding to the 

(Contmoed on Page 9, CoL 1) 


Lonrbo would consider making a 
bid “in the right circumstances.” 
Paul Spicer, a director, said Sun- 
day. 

Lonrho's chief executive. Roland 
W. “Hay” Rowland, has been bat- 
itin g to take over or restructure 
Fraser for the past seven years. 

After selling its 2 9. 9- per cent 
stake to the al-Fayeds last Novem- 
ber, Lonrbo charged back in to 
purchase a new holding. 

At present Mr. Spicer said, 
Lonrbo owns about 6 j percent of 
Fraser’s shares. 

The British government blocked 
a 1981 bid by Lonrho to buy all of 
Fraser's shares for £226 million, 
arguing that the takeover would be 
against the public interest 

But the government is due to 
release soon a new report on Lonr- 
bo's' relationship wim Fraser, and 
some analysts expect that Lonrho 
will be cleared to make a new bid. 

Sears Holdings, whose flagship 
store is Selfridges in London, also 
has expressed interest in acquiring 
Fraser.. 

But the al-Fayeds have indicated 
a strong desire to add Fraser to an 
international business empire that 
includes the Ritz Hotel in Paris and 
office buildings in New York, Lon- 
don end Paris. The family’s inter- 
ests also embrace shipowning, con- 
struction, oQ services and banking. 

Two of the brothers, Mohamed 
and Ali aLFayed, recently became 
directors of Fraser and are believed 
to have friendly relations with Fra- 
ser’s chairman, Roland Smith. 

Mr. Smith, a former professor of 
marketing, has been dividing his 
time between fending off Lonrho’s 
Mr. Rowland and trying to im- 
prove tiie lackluster performance 
of many of Fraser’s stores in En- 
gland and Scotland, 

Haniods, a hngefy successful de- 
partment store in London’s swank . 
Knightsbridge district, accounts 
for roughly naif of Fraser’s profiL 

The 136-year-old store, which 
says.lt averages more than 30,000 
customers a day, is benefiting trim 
a tourist boom inspired by the 
weakness of the pound. 

Geoffrey Carr, chief stores ana- 
lyst at the London stodebrokerage 
of Scrimgeour, Kemp-Gee & Co, 
estimates that Fraser bad pretax 
profit of £46 million to £47 million 
in the year ended in Januaiy. 

For the prior year, Fraser report- 
ed pretax profit of £38.7 million on 
sales of £841 nriffion. 

In the six months ended last July 
28, Fraser had pretax profit of £7.4 
million and net of £4 . milfion on 
sales of £384^ million. 


Arco Plant in France 
Depends on Fuel Study 


AU these Bonds have been sold. This announcement appears as a matter ot record only ' 


By Axel Krause 

International Herald Tribune 


"We are proceeding with the Fos 
project, because the markets for 


PARIS — Atlantic Richfield Co. look *“gMy promis- 

is proceeding with plans to build a 121 particularly 

S 250- mil lion petrochemical plant France. Allen R. Hireig, chairman 
near Marseille, which would be one , cmic ^^ Europe, said in a 


of the largest U.S. investments in telephone interview from London. 
Franc* But the final decision will a™, based in Los Angeles, had 
depend on fusibility studies that examined a rite in Spainlind con- 

wili include determmauon of Lhe . , . . ... . ... 

prospects for marketing lead-free “ olh f P. 1 ^ 1 “ 

gasoline in southern Europe, com- ? ^ et ^ erlands - bui decided on 
party executives said Sunday. r ranee for several reasons. These 
The planL to be located in Fos- deluded tax advantages and other 
sur-Mer, is being designed to pro financial incentives proposed by 



duce up to 180.000 tons (163,000. Gaston Defferre. nrioisterof plan- 
metric tons) a year of propylene oing and regional development 


oxide and 430.000 Lons of gasoline- 
grade tertiary butyl alcohol, or 
GTBA, starting in 1988. Since 
1982, Arco has operated a similar- 
sized plant in Rotterdam, which 
primarily serves markets in West 
Germany and northern Europe. 

Propylene oxide is used to pro- 
duce foam cushions, resins and sol- 


who also is mayor of Marseille and 
has been seeking new investments 
for the area. 

“France is particularly anxious 
to have this project and we are 
doing all we can to facilitate the 
process," said a French govern- 
ment official who deals with for- 


City of Vancouver 

(Province of British Columbia, Canada) 


vents, while GTBA is an octane investments. The plant would 
enhancer that enables oil refiners provide 1.400 jobs during construc- 
to blend methanol into gasoline.- ^ on employ as many as 250 
replacing lead and other higher-* 

cost octane components. (Continued on Page 13, CoL 7) 


Soviet Rmamps Management 
Of Its Troubled Oil Industry 


40,000,000 Canadian Dollars 
11 % % Bonds due 1995 


1 c v.r 

) ' ■ • -V 

I ; " & 


i ' \ , 


; isi- 

"■ 


a s 

f. 

m i ; 




MI 


! % 

S 

: =>=** 


By Theodore Shabad 

New York Tunes Sentce 

NEW YORK — A potentially 
serious decline in Soviet oil produc- 
tion that began in I9S3 has acceler- 
ated this year, causing concern in 
the Kremlin leadership. 

The minister of petroleum has 
been dismissed and. according to 
Soviet press reports, a top member 
of the Soviet leadership has called 
for tighter organization and man- 
agement in the distant West Siberi- 
an oil fields, which now yield more 
than 60 percent of Soviet oil. 

The oil industry is a key sector of 
the Soviet economy. In addition to 
meeting domestic needs, tr is the 
principal source of exports, earning 
the foreign exchange needed for 


Soviet purchases of Western grain 
and advanced industrial equip- 
ment 

"Hie oil problem in the Soviet 
Union, the world's largest producer 
Tor the last 10 years, “is related to 
difficult development of the 
swampy Siberian forest now fro- 
zen solid during the six-month win- 
ter. 

Soviet production levels depend 
on the extent to which the new 
Siberian fields can compensate for 
declines in the older Volga- Urals 
oil province of European Russia. In 
the last two years. West Siberia has 

fallen short of plans, causing a dip 
m overall output. 

Average daily Soviet oil output 

(Continued on Page 13, Col. Zl 


Amro International Limited. ♦ CEBC Limited 
County Bank Limited - Deutsche Bomlc AMaengeseHscbaft 
Kredietbarik International Group • SmniMi * Q i-rmw orf 

Nomura International Limited 9 Orton Royal Bank limited 

Soci6t6 G6n6rale * Swiss Bank CoiporationlnieinatiohaiUimtod 
Union Bank ot Switzerland (Securities) Limited • Westdmais^LaiKXesbaniGirozeiitr^e 


/ * \ 1 
XU©' 


New- Issue • February l<?85 








Page 8 


INTERNATIONAL HERAT,!) TRIBUNE, MONDAY, MARCH 4, 1985 


International Bond Prices - Week of Feb. 28 


TUB— 

Met Rto MOt LtttCUrr 


Provided by Credit Suisse First Boston Securities, London, Tel.: 01 - 623-1277 

Prim* may vary according to market eomfifiona and other factors. 


RECENT ISSUES 


Sr/ Mm Mid 
Ce*r PrtePrtesTtaU 


MWm Aw 
MM Price «M LR* Cbft' 


Middle An 
Mot Price Mat Life Carr 



STRAIGHT BONDS 

Ail Currencies Except DM 


— rm — 

Middle Ase 
Mot Met Mat LRiGarr 


AUSTRALIA 


IfaTOOct HSU 7.*S 
iiVfSOd M iLii 


ffaTOJW D 11.30 

iifeTOOo nn iu 

iftWAnr mo it Jo 


ii is ion mtj ms 
M ® Jan US USD 


ts Auaroiia ntTSUay w.itugun ue 

is Austral «r sfaTONav wn 11X9 1U* ih 

im AuMroiio an-MJim n uu5 an 

SIN Australia IftTOOet Mb 1L75 S/9 

iu» JuatraM m.'uoa mob nn iut 

*15880 Australia 810,1 Aug I Or 7A7 

ife Australia ibvioa m iojji 

s ISO Aisfaaaa vinso a ibai 

riSMD Aiisnaila ifaTOOct usu 7 a! 

5J0D Australia llVtSOd H 111! 

SIS Australia ffaTfijun V UXC 

tin Australia ii‘>noa nn iu* 

sS Alcan Australia lft® Aw ms life 

SB Alcoa Ot Australia 13 IBian Wlti 1IJB 

5» Alcoa 01 Australia M ®Jaa US U3C 

IH AkoaOf Aiatrnfia ID VAn MU ILK 

tS UcoaOl kraraUe UftTIAnr m nil 

sis Australian ind Dev Cd II ® Feo mi, 112 

5 WO Australian Ind De» Co llfaTOFetl IN llfl 

S40 Auuraiai Mini Smelt ffaTOJun II 1123 
SS Australian Resources U TO Mi r 182 nn 

SIM Austral Ian Resources Oft® Apr tan. I1J5 

IS AestnxMfts 1 WJul n KLC 

It Broken Hill Ptv I IS Aar !■ 7X3 

SS Broken Hill Pty Ifa® Aw flu 1**2 

119 Broken Httl Ply UfaWMov 185ft R.93 

in BnAenHispre n ,0Jon MOfa il.fi 

SS Broken Hill Ptv U tDItor HU 11X2 

■-M CofWAcalnwflEufoOB fft'lSMv 99ft IMS 

wo Comotco inwai Europe HU ,1 Jot *lft tUI 

SS Goatecra United 10 17 Aar »7ft " “ 

not Co nu nenwe a i m Bk aiiHt tmwnov nnu 
STS Car Untiled 16 VJul 117 

><a Hamereiev HetOMat tftTjjan ■ 

SS Hamertlev Iron Fm 91a TO Sen MU lUt 

SS Harnarwr Iran Fin , HMav M 90 

13 Homenlev Iren Fin 1 TtNuv f4 nLM 

IS* a M ort Fewice 9 »Oa fib 9X1 

SIS Mount Isa Finance fifaTONgv fib fJJ 

IIS Mouftlta Finance m-VJut lOJft JUF9 

19 Notaaal Awh Bant llfa 78 AM MU ll» 

ecu 50 Primarv Industrv Bade ffaTOAgr 97fe 102 

ecu At Primary Industry Bank 111k TIJul «P» FA53 

1K0 Queentland Ufa® Dec fth IIJI 

S» aueensknd Alumina lft TOM® W> 963 

IS Oucctnland Afurntna IUX7Anr H 1QAS 

IS) Rural industries Bank 13 71 Fed M 12X4 

SIS State Bk News Wales lifeTBjon 97b UJl 

IM Tet Overseas Finance * WAug MU 10A1 

SSS Western Minina Cara ISftTOOee M4fa 1184 
I» western Minina Corn » TJOct Mft ll.fS 

two Westnac Banking Co nfaTOJon lOTft 
in wexfeoclnn France 11 TOMar mu 


laoiion ui 

lUlllfl u 
70 lit 
llfl 1IJJ 
U30 nee im 
IW UJ 1 


II -MFeO MV. 1121 T1JI 
llMTDFeb 100 1137 USB 

n. vjjun ■« lzzinsiuJe 
U Bd Mo- 182 RUf 1275 
RVr 17 Apr KOV. I1JS 1201 
S VJul ts 1047 nu M2 
I IS Apr l«a 772 UO 
lUVAnr flu 10*2 032 M2 
ULVMav llBVs Of] UM 
13 fQJan inu il.fl 1U7 
H TDMar nu 1172 12U 1071 
Mi IS Mo MW 105* V.1S 155 
HU 71 Jot fit* 1231 fJM 112 
10 17 Apr fits IU8 11AI1U 


Co nu nenwe a iin Bk AuMr 1 »vno> nnv. iiii 12W 

“ “ " 023 U2f 

. 017 1X01 TOAD 


Hu is Sea m-. tut nut fjj 
f WMov M 92 KM OOP 
1 on* 94 1047 Mil LSI 

f MOa ftk. Ml M» 9.11 
Dale Nov f J2 » JO BSt 

mvjm iam tut u» 
ivstsam Mw m, iuk 

ft, 72 Aar 77b mat 9J77 
111k 73 Jut ttP. F«S3 1001 

I IH If Dec 98 V IIJI 1 1 S3 

lUVMM M3k 9 AS MJt BA1 
SUVAar M 104SIUB u 
12 TlFeO M 1224 on 
113k 78 Jon 9TU JIJ] 11A4 
9 VAue 9MV10U11J3 933 
155} IS D« M4VJ 1U4 MA3 

9 73 Oct BSW 11.9* 122 ton 

EP»73Jon imW 1253 OM 

II TBMev MW 11.91 UA 


I5W VMar SI lUt 1423 

BWOAub 19 11 Ji 1177 m 

13H 72 Jut 108 112 77 A? 

■H 72 Jui 17 1129 UBf 9,1 

UHTlJon lttv. M2 IOK 

11U7S Jan 9» 1109 oil 

5b1SJat *7*1063 098 IBS 
II ISjni Ml 7A4 9JB 

14 ISFeO 18TA W27 1154 

MWVJun 111 1L9S 1444 

1» TlAor f« 1221 31A2 

m,IJun KM 11 At u U 

UU73Apr IIS IIJI 112 

13 74 Dec 79H 092 1203 

tUMJul M 9A7UJ4 450 

IIW 11.11 


1 150 Austria UWVMar ntf t 

1» Austria 
HU Austria 
SS A«fna 
rcuMO Austria 
tan Austria 

SQ AlnmaManlen , 

SIS Austrian CenlralBoni II IS Jot Ml 7A4 

H 400 Auttran Central Bank 14 itFea unu U27 

cm 61 Austrian Central Bank MUM Jim ill ius 

1 175 Austrian Caatrai Bo* 11 flAer 98V 1221 

12 Austrian Control Bom ITi ft Jan HOW 11AI 

IS Austrian Central Bonk l5U73Anr 115 iiTB 

SS Auririm Control Bark 13 74 Dec J9H tun 

SIS Amtrtan Electricity tHMJul ft 9A? 

SS CredHHHtatt-Bonkvar MHVJun 1177 

SIN Credltanstnlt-Ban Xim 14 1JH iu (ijg 

USD CredttoflsWt-Bankwr llUTOJat M T226 

ITS CrettdaasMFBvAver lSWTSJut IUW 045 

I too CtMllansialFBankvar llwilMov IW 12.14 

S48 DenouiraltaKTfce Aa UUTlFeO 99V} US5 

SS Catanen Ze n traB nk llWMAnr 97W 1216 

5 100 Gemnxan Zenfrafliaak 14 TlJun IBS 1274 

SS Cinu Bant Sear kaseai 15V 19 Sen ill 1217 
175 Gira Bank Seartossen llHtlMav 194 034 

erd 75 draiBankSaarfcraen u TiJui ms 074 
eats Glrtu Bane Sttarktmen m>,IDec ion* 1U4 
S7S Pastsaarkam 
SX TauenvRitaealtn Ag 
12 Trans Austria Casllae 
547 VurmoOtv 

enSBl Vienna City 

SS ZentraHpartfrKemawrz 115*79 Feb MW 1235 
cnSS Zentratsnartawcanimeri llSTSFeb «f 005 

BELGIUM 






**. , 



lilt. 70 Jut 94 034 

15ft 70 Jut HOW 045 


IIW ,1 MOV IW 1214 1262 

UUTlFtO 99W UK 1131 

lift 7Q Aw 97W 1214 1177 

14 TlJun 1*5 1374 1U3 

15V 19 Sen 111 1217 lilt 

Irk 71 May IW 024 074 

14 TIJul ms 1174 EU3 

10ft 71 Dec lone 1134 1023 ULH 

014 V AW 101ft 1175 1207 

IUVMW 95 II, M 1174 10 

7ft W Jan flft 11J4 031 139 
iriTIOct Ml 1261 111] 

l]U 7M Jal W5ft 1220 


ecuB European Banking Ebco m*F* U2ft 97* 
I HO Genti nance UVTOJai 95 1247 

°ft» KreddO enk IBma 12 T2Jt»t 98H QZ7 

H12S Somov 9% 17 Aw 97ft 1199 


STS Canada 
5® Canada 
SS AolUaFPrlce 


CANADA 

UH«J 


rado 1 ft. 74 Mar 199 1U3 

ipccattad- MftOB 

«sss mj.B 

OtBrncoiiBnuta ur.ifMav Wi 12JS 


SB AhmlnumCe Canada 
50 -Amu Inlt 
01439 Avco Financial Conaa 
cnSS A«cb Ftaanctol Canad 
ad 10 Bank Ot Bril Caiienbfc 
SMB Bank Of Montreal 
SWO Bank Of Montreal 
cm 75 Bank Of Montreal 
SIS Bank Ol Mgntraal 

£ 

S« Boll Omada 
CBS 13 BenCanoda 
JIM BeuCanada 
atsioo BeO Contra 
SS Bm-RILM 


SB Denmwk 
SB Deirark 
HIM Denmark 
SIM Denmark Xrir 
IU Denmark 
oriioa Oeterak 
SB Denmort 
Sloe Donmurk 
ecu 75 Denmark 
SMO Denmwk 
SMB Denmark 


DENMARK 

4 WJun 


7ft 17 see 90 1232 MJJ9 131 

OftVAu* IWft UO 1321 

HA4 19 AW Mb IIJI 11.11 

U 19 Qd 101 UiS 12A7 

7ft 70 Jot 0 10711175 152 

111.70 Jun 99 1225 1179 

Mb 71 Mar 303 1029 1154 

a 7] Mar 98b 12* HIS 

U 71 May lQlb 1255 1271 


I O’. 19 May «3ft 12* 

iSssiais 

feSKSftl^ 

lSViWJui IQS 1UB 


M TIJUl 104 1251 

13V 71 Sec 183ft 043 


SUB Denmark 
S25B Denmark 

nkrSB Denmark 


AftJai 96ft 7/1 
U V Jan Ml 127* 


1314 72 Fra 99b 1251 
9ft 72 Mar IB 9 JO 
lift 73 AW « 123J 
lb 73 May IOTA 7M 
I3W 72 Dec M TUB 


STS Brit CoiumlBa Hydra 
S2B Bril Cttfottcki Hydro 
SIB BrttCnWmblaHvara 
SIM hit CotumbW Hydro 
1300 B«t CotumWo Hydro 
SIB Brit CoiwntMo HytHO 
5300 Brit Cal innoklHvtfto 
cm 25 Biu cehMiaManlda 


cm a Brit Cctambki Munlcla 
cnS24 Bill Cotumoia ikunlcka 
OtSIM BrltCohmiM PnavUC 
ad mo Brit Cairaoia PrMnc 
cm la BmCaumuna Pnwlnc 
coSH Wd CokmtMo Tetaefta 
ensra Bril Cetemlm Ttleola 
SIS Central' 

SIT, Conoooc 
o«U Ccmacwn Imperial Bk 
cnSU Canadian intsenal Bk 
»2 Craodkan Iraeerlol Bk 
KM Conadoa Inveriol Bk 
cm V Canadian ItmerMBk 
cm U Canadian Imoer id Bk 
cm 40 Canadian imdcridlfk 
Sts Canadian imperial B» 
SIM unstra I nverkalBk 
1M Canadkei NaH RtMegv 
cmefl UraaaaniiatiRoilMiv 
170 Catntion Nall Raihtav 
edit canoakmDccidPairM 
cm eo median Pacific 
cm 50 canudwn PacH< 
l« canattra PodflC 
cm 1 canodkin Paalic 
I., canactuei PocHk 

STS Coneean Pacific 
rtB canoora until tes 
cess Ccnaman uiildlel 
5» CtvaaioniKhcaiBaara 
cns» cnrvskr Credit Can 
crS« CBnulratrd-Banturst 
IM Coasoiratro-Bottvirsl 
s£» craMbraa-Bathurai 
ern» Credit Pent Front Con 
IS DOatr Petroleum 
SH Dome Priraieini 
ss cwntifcon Bridge 
545 puPom Canada 
MS CairariraCItv 
ss EktoradDNuaiar 
IIS CnattOwMiaaCara 
E MBert Dneioa Care 
IUD E »Dtx 1 DevrJoc Com 
I WO E mart Denlap Cat ■ 
1100 E *rart Dewlap Corp 
J ICS E ««v I Devrloa Coro 
llw Court Develon Coro 
5 IDO E >aori Develop Cora 
TSTM E.uort Develop Carp 
cmn Fatm Credit Cora 
cnSS Farm Cryd.t Carp 
S’! Fd'mCfcdilCotB 
Frt* 1 Business Drr Bk 
Feder Buuness De» Bk 
m toe F eder Buuness Dev Bk 

S52 griPTBuyiaenDe. Bk 

emu Fedrr BuwtuDa B* 
Mil Ford Motet Credit Cm 
u«B G« Me imoklaln 
em« Cot Melroaolilsin 
OSH CaTMetrapotHUn 
□753 General Motors accept 
enl 50 General motors Aeccpl 
CSIB Genera Mann Accra 
din Senerai Uotnrs Aeccoi 
cm »0 Genenp Motors actcui 
cm 33 General Maters Accra 
ariSO General Motors Accra 
IH Gefrifcr 
STS Gemlar 
SH Gennof 


l«140c» 98ft 1123 
,7k, 17 Mar 9Zb 1UB 
14 19 Jin UK 034 
IJAWMOV 101ft 523 
HkVOct ft 10JB 
JH13May ™ 1S2 

M>;«Mar 971i I1JJ 
lift VJul IWft IU* 
MliVOO 117b 1134 
WkVMav Mfft 1U1 
1S>2. 7? Jut lit 1233 
11H73CW 99ft 1UJ 
9 ISJun 99ft UL0 
17 1500 KOH KUO 


3J4 Mfi 

523 _ 13JS 
0.9* 1256 828 
7J3 1JS 


VISHO Denmark lib 72 May TQTA 1M 

SIB Dranark nW73Dec 99 12/3 

*“ Cc ^farm -tJxaro K416Apr 95b 90 110 06 

* 5 Cownh ooeng^ » 150d 99ft 923 121 9$ 

55 Q— 1 * WMov 92b 90 Uf 4,14 
SZ Omenhaoenglv fivVApr 94ft 9/S11JS AM 

*15 Cappftoa en County Aut 7b 17 Feb 97 9/9 90 729 

51? C— raoeu Te tep|i»n a 9 VMr Wft 4JS 40 t* 

115 OmentMOe n Tetecrinoe M14Fcb flft 1024 1834 8/3 

SW O aptntMp yTciep hone MV«w Mft 1824 1100 4.99 

52 W»fW» g«*g4«WMHf 4H JJJOO 94ft 104< IIU5 648 

55 *°rTo°P *g°r*Dwinioni 7ft 71 Jan a 1832 1178 IS 

*» jjoriawe Book Denmark a 73 Job unb xua 12*5 
113 priyoaonkon 14 ft 0 Aw ID us 

ecu0 PrivDl&ankan Ufa 71 Oct U3H I8L44 

FINLAND 


lib 73JW1 9fb 11.97 1209 11.90 


ItPJ T9 May S3 11JJ 


!5> TtJlrf IWb tU5 

W-TlJMv 1MU 1111 111* 

IS 2 CMC IBOfa 110 110 

IStSS 1 ® ™ W-W W97 

7U.5 Feo viw ii4i nn 

SH!*" IE. 1tB 

JTftlJNwi 103b 110 1132 

W-JJM09 1M 1281 USD 

Ilia VJul 19b lllj 110 

If'Si - 145 ’ CTO 'A53 

I* IT Mar MB's 1LA5 140 

W-JTJu" MBft MB 1531 

ISblfJai 105 Uf* 150 

WU 1188 1147 

» TO May «4ft lUB 110 

IF. 71 Oct II 1ft U8I no 

KBK #y 2. Bn 

”■» 929 

UHTIDec 101ft 1145 U0 

UHTtMar *8fa 1241 1241 

JHVNOV 187 1435 1659 

161*19 Aar 10 lexi 154] 

n »-niMiiiu» 

Ji'25S? , Wli 1305 H.M 

13Sa TOOci 101ft 12M 120 

MW Am M5b 1130 130 

J V Aug UP 1343 l&U 

17 7* Dec 114ft 1635 1111 140 

9* 1333 1121 

M 71 Oct 104 1383 1X44 

1J-JTF0 IBS 1437 1*43 

'^TJPto' m 140 141 J 14X1 

* S 0ct .f 1 '* ^ 1321 110 

in.WAOT 1141} 120 140 

3ft 72 May 91 lilj 1452 

'» TIJul lift 1604 130 IUT 

* 14JWI 8ib 1130 13S 

J'aTIFeO 04 110 1298 

JJb19 Vjo 782ft 1141 113» 

, 3i3* M9r E ’I-® 9 I2T9 

9V-. 55 Jar, 79b 78XJ vs 

13b V Atoy mb 1137 136* 

IJJiWOd »4b 11.19 127? 

JtblTko* TOBft 110 11/9 

J'JJB! Wi 1136 KLBf 

» VJtar Mft IU1 UL34 

n VNoy IMft tl/I 110 

•3b 785tP Ml 110 110 

ljftllMor HOb 110 1124 ; 

11HT3QC! 99b 11/5 110 

17b 15 May 181 70 I3.U I 

17b 15 Nov 101ft 9JI 1207 

7b « Oct M8ft 1123 1636 

17ft VSea 101b IUD ms 

•*i J 70 Jut «■*, 11JV 110 

,-SJ S2* ,, - M ’Ji 

I. .TO Oct 189 1472 1U3 

Iff 73 Dec nn UJl MM 

UftWOel 1Mb 110 130 

a 15 jun ni iu ua 


SMO Ftaknd 
STS Finland 
V 13008 Finland 
sm Finland 
IB Finland 
ekr3D0 FMaod 
1930 FMand 
v 15000 Flntaod 
SOD FIMatd 
S73 FMcnd 
*50 EtWKGutraii 

*50 Rmlai Enort Credit 
US FkmMi Export Craa9 
SB FUmtab Exoorl Cretft 
■ 79 PkMdi Eamrt Cieall 
SHO Fimtsn EapartCrx/w 
sis Fkaihii Munictaa Loan 
SU Finahri Mum dpa Loan 
SIS rinfalnhiotv 
stb ind Mfoe Bank FMand 
S3S indwtri Fund-FMand 
515 Mortgage Btmk FkWmt 


9ft 16 Mar *|b IBM 
15b 17 Apr wt. 1L47 
IHVJuti nn 735 

lift 11 Jon ffw 1VJ9 
HjkVSep mw 1138 
15*8 921 

lift 19 CJcI HOW 1131 1137 
JbVNov B2b 70_ 
FbTZOd lift 110 1X17 

m»74Nd* 99 till 

lift TO Mar 97 T32J 
UftWJBl IMft 60 
Ob 0 Aar 101 1264 

14b 0 Dec Tfcft 1243 
12H17NOV 113 1177 

12b 19 NOV I Kb 12*9 
IWVMar 95b [2951143 
5>1»Wl Wft U*l 1363 
lb 16 Nov 97b 1252 1133 
I 17 Dec 97 11/71254 

Sb 17 Sea Nft 1827 1259 
MWF* 9SW 12.19 tO 


i* 5Sr*«wi8onkFfcti(Bid lib 19 Nov 00 


SIS PekemaOv 


Ob WDrc 
FRANCE 


• WJun Mb 1230 
IHall Fee IW llfl 

UbWAua mft ua 

w-JMor nn 110 
VftWJon 71b MB 
Ufa 17 May 100b 1337 
/JJiWOd »4b 31.19 
JlblJNo* WBft 110 
98b 110 

• w«ar MW IU! 

11 1* 19 Fee VTu 110 
12 79 Nay IMft 110 
lift W Dee 97ft ni, 
•54,05*0 M3 110 

Hn ’-* 11-0 

'IH 73 Oct 994. 11/5 
ir.BSMav 181 70 

17b 15 Nov 181ft «J1 

7b i6 act new 110 

JftJSeo 101b 1163 

n.V44av «4 1134 

17b TO Oct 189 ten 

imv77Dec nn UJl 

U 1 : -MOCI 1Kb 1104 


a w jw ni 

9ft WFM 1*1 


SS— 1 1* Jwn 104 110 
M 77 Jon 105 1371 


14ft 19 Fee 907 1404 1543 

|* J»J«! ,90 till full 

107b u.97 1624 

1B 

14b TZ Apr MB 1254 130 


UI UI 9/1 
U0 150 

1371 IU4 

1691 1*91 

1161 9239 1037 


119* TS JU U6b UJl 110 
! WMar n llHtlll S.W 
JJVWJun f«b 1253 9/7 

.SrSS 1 * <>0 <263 962 

13ft 19 Od 104ft 11 1* 110 


13ft 19 Od 104ft 11.1* 
llbflJun M6b U23 


12b T7 Jan lOfft 1054 
5 2Moy 85ft 110 


IS 19 Jun 98 


SIM CWI Conooa libTZ apt mb iui 

cu SSSBS^Sif" 1 u - ** Aar niw 120 

550 Hiram llMkw Hetdmn i II WJun UIW 110 
iij Htfarn Walker Hddmas 1* 19 Mar fir SS 

125 Home Oil 9taW Jut 97 11.94 

cnSU HudunBor 1| Star W7 in 

Crt 60 Hudsons Bor Idft 19 Apr 93 IU* 

COS 48 Hu dson* If WMev IB* 14.91 
aii53 MudcaviBev u'.vjw lets, m* 

i5 rift 70 Jun 91ft I3W 

JS Hud raraBdr M 74 Fee ITl 130 

550 1 mi Canada 13ft ISjm m mu 

SH Imaxa iSwifjan ttfi’.} us 

>1» mw 9 TID« B 1 32* 

cm ic imrrarovin Pice Line iT-timov eft; rus 
ana mu Harvester Cradrf 9b 14 aw 93 uy; 

sa ik ConononF inane* rftWMav at 11x4 

W5» IStCcmodmn Ffatgna 16 WAuO 9B 111* 

oiS38 Laval City lib vi Sec B7 13/1 


ensro LavotCitv 10 Wjui 

0915 Loatuo 15ft 7Q Dec 

SM UocmiUen Bkwad 9 T2F|Q 

ISO Macmillan Bioeaei 7] Mo 

cm is Nknnn&a Pnwinca 9bWAw 

su MaadoeaPrevuico ffalSAw 

15 MOriUM Province ft.- if Mat 

JWO MoniKKo Provinn Ufa if Sep 

}JS ntemaraprowott irfaifNov 

IIM v/fttebo Province 18ft TO Jun 

STB Ma-jtooa Province 17 j 74 Oct 

□riS Moil lime Tet* let U-74QO 

S 75 uasw-FeroKon Ned Fa 71 Jun 

sp MenirntCitv UfaVJof 

cMU uontreolCilv 17 WMOr 

cm 40 Montreal Ciiv 10 IfJua 

cnB Montreal City 12 70 Dec 

sts MtnfreatCilv tmviMor 

cm» Montreal erfy Ufa 71 May 

arieo Montreal Citv Mb 71 No* 

Jt® wanfrealClr m 77 Mar 

tm» MantreusdiMlCaune T7i:l7Fa 

*2 A^'T'^V'bonCeminun 12 to Hay 

ensx Natoit Bvaity Cora 13ft 70 Fab 

ema Notional Bonk CePOdo It'.lMFM 

NttaBiwranckElKlri 13 UOct 

*5 New Brsagoick Elccirt lab S9 Mar 

S n New Brununrk E wari eb ,4 Mar 


St nj0 'Ml 

1* tlUar 111 110 iwi 
9ft 97 1164 1201 *29 

I 2 MOV W7 IASI 1682 

! JUbjwiub 

II 2 MOV 10* 14.91 160 

i 'SJlH Mlb 1178 1407 

IlftTBJwt 915V 1363 12J7 

W 74 FCO C-} 130 14J1 1L98 

ja b jut ui mu ma 

15ft 19 Jen raft 1355 144* 

® JD*S *5 1326 1058 

RbTJMOV *9*1 RUB 12J4 
S3Jiy* r 2 1495 m» I24J 

9-69 

J* 1U91101DM 
UMTISeo 117 12/4 1143 

10 5, 1653 

T’SSS 1Z/0 925* 

’BE* £ lira 1X48 1191 
JaTlMor B R.9B 1153 110 
9b»Aw IM BAB BN 90 
r-vBAw IWA 606 197 *0 
fftWMer 93 mil 100 

IF. 19 Sep 106b 110 1294 

Wi II M 110 

IShgAM 954 110 110 

13*} 74 Oct IWft 123 120 

W-74QC1 TSPA 1341 120 

Fa 7| Jgn n U0 110 

Ufa 17 Jut 17 110 US 

97 19 MOr lOkfa 160 U« 1680 




13*} 74 OCT IWft IUI 
W-740C1 DtPA IUI 


FabJ/gn H l*xi 

Ufa 17 Jot 97 110 


10 WJliD 93ft 1280 

12 TOOK 99ft au 
Dft T1 Mar MBW rear 
Ufa 71 MOV 99b JIB 
13h 71 No* 9*b 120 
15b 77 Mar 18*W UM 
I7ft17Ftt 10 Jill 

13 TO Hoy IB TUT 

13ft 70 Fab 0 120 

ta'-lWFtO D9ft 12/3 
13 IB Oct 111ft U7J 
Ufa 8» Mar 104 120 


*b ,4 Mar tr.-, iiisi2S4 ii.m 


<5*H Cmbl ftipm Petit m 
• * 7® Credit Fonder Fr X/w 
sue Cns» Foncter France 
•ailW CnrtlFoneJerFraooe 
earn Credit Fender France 
IS CredHthdlanal 
SUB Credit Notional 
■cub CredU National 
ecu SO Credll Natienal 
H MO gectricUe Franc* 
SUB Eledrktle France 
S2B ElecfrieHe Frwice 
SB Eicarictw Fran 
SIB Ekctricffc Franco 
sm EkKtr Idle France 
SUS Electridle France 
SU EleOriQte Franc X/w 
SUO Ehrtjdft: Fnma 
1W0 Eiecfridl* France 
*20008 Ekctrlctte Franc* 

S75 09Aautlaiae 
SUO ElfAauftaine 
ttt Frew | trance) 

S2B Froncnhe P*t rates 
SH CezD* France 
•f* GarDeFma 
amis GaiDeFneice 
S1W GetOlFRMI 
*5 UdargeCeppee 
SB LeNidan 
STS MicneUa 
SB MieMtln 
5 125 IMcMki 

SH MldlelinO'S 
SB Peaikm 
IS Peugeni 
m 75 Peueeot -Citroen 
H UO Paef-A-MaoB4ki 
1/ Pan Aainartties 
»g},S «8a Aule Traaaa Paris 
HUD Renaull 
IW Renault 
Hioa (Stan*- Poulenc 
IMB Saint /Main Pi Mouse 

SB Sncf NaTOwnimsFer 
530 faid Not Chentins Fer 


13ft 15 Dee TO 9St 

ll-l 75 Jun *| ma 

13ft 70 Jot Mi 1274 

IttltSu MV: 120 

£* woct 9*w ir.n 90 

R.WM0T f) iui 1631 90 

JSEi" 1 JT A UNTW 

Oft 7J Feb MS 1249 1259 

. WA 13-1* 19-51 

UftBJui 101 120 120 

lift TO Feta 165 1066 110 

inkWABB BJft 1051 «rn 

WkWJan Kjr. 1031 

BftWDec w 9J3 M.1* 

lift 91 Feb IWft 1130 

UftTiDec 10K 1S0 

1 iSK£ or la km 

tftWAW 99 1055 977 

IftWMa* 97b 1057110 Ltd 
4» 
0/1 
1251 
10.4! 
1163 
11/3 
1174 
7.11 
US 


BftWjun ft 110 
l»VOd UQfa ii/3 


13 18 Jon Wlft 1133 


10 WJei 96 110 

lift 19 Aw m, 

Ufa 70 May 96b J2.T0 

’SSUST K* 11,5 

6ft TS Jon 96b 70 

SfalSAW BO 7 9* 

12 TDNdV 99 122 

fftWNav 99ft 103* 

* VOd 90ft 80 458 611 

lift 16 Jen 30 1091 1131 

11 SS 8 * 1 W ”3 1215 

15 IW 073 0/4160 

H’-TGMgy 99ft IU] J2J1 

ISlTWAw IBS 1148 IU* 140 


* JfMor 91 10771194 9.U 

SrS"* 1 ” *J4 


TftWFeD 90 11/71119 UJ 

m .WAue 0 128 UJl 110 


f- ® »» 97.3 IIJJ Ufl 1000 

* SDK w M27 1UB 9*9 
>4 TOAuo 10 1X14 1113 1359 

WWFcfl 9Bft 1043 IAJ0 MB 
JAITAiib 90 1249 1541 BB 

’ 89 11/112*71011 

ms^Aw 1US18X1O0 
Nf** 1 «b an 90 
2.*s tt»U8 JJS 
E-r 1101*51 ui 
OftWMay 98V} ILK gjg 
uft^Aw io»ft an nw kb 

UftWMav WTV 9/7 1231 

6ft 15 Jur 99 90 4.93 6J7 


10 SKfieatOantaFer 
STS WdNatOwnfraFer 
SB Sad Hal Ctontne Ftr 
SMO BactNatoieintasFer 
SMO SncfNptOwmlRsFV 
168 Sncf Nat Otenlns FW 
ecu 45 Sacf Not Cfmlra Fa- 
ff IB Tew OU Marine 


im»Nev now iijs iui 
11 91U ID 1226 7164 1363 
I 73 Dec «ft 1241 1641 lire 


17ft T3 Dec 99ft lie 
lift 7} Mar 97fa UN 
Ufa Wider 94b 11/7 
UfaWMav 1B4W 1U1 
93*17 Mar 97fa HL93 


5» Norway 
$15 Bergen City 
t IS Boneaaard 
s 58 Den Nwdce Credtbdrtc 
SB Dai Nerske CradUbank 
nkr 110 Empmjfinm* 

(*r 180 Eksportfuns 
SS8 EbpgrffbaB 
550 Ekseeritbas 
SJS Efeseortfira* 

1 180 Elaaeri&mXTvi 
nkr 200 Ekseartfjnatu 
ISO Eksporiftiaaft] 

SNO Eksoertfinons 
stW EbenerHam 
DkrSt Ekinoriftass 


SftVAw W> 4 OU 
I 17 Aw 95 1BL77U.U B0 
SfaWFA 89 9.90 MD 40 

U 70 May Mlft 1354 120 

Ufa 73 May 9313 1375 1216 

lflftVDd Ww 1190 W0 
Ufa WJun 107ft 90 UN 
9 WSaS 9TA U94 110 US 
11b 17 Jan iw IUI UN 
9*5 17 Jut 9714 IUI 11/7 9J7 
UbVSCP W3S 110 111! 

n 19 Jen ttBfa IUD IU7 
MVlfMov MSft EUI12/9Uai 
9ft 70 F<9a *1* 1101253 IDAS 
lift 70 raw 9*b 029 110 

WbTJJtB 10ft 90 9 JO 


nkr W Nenii ftnmMerankv WftWAw Wft 9.90 960 1616 


GERMANY 


SX Bnsf Finance Europe 
Sisa Bast Finance Empe 
SMS BastOvarneXAv 
him Bast Transafkattioi 
SIB Bonf (on Fkajnc au« 
1300 Bom Inti FkwncX/w 
SIS BowrlsdM Verrinst* 
SB BanrO/sEiderarfNS 


Ufa V Nov 100ft UN 
fftWFeb «4ft IUI 
11 WMar ih UJn 


7ft 17 Hay 91ft 1214 14/4 40 


OwoStarfFtaW/w" 
Oegotm Inrt Fin Xri* ■ 


vom 17 Jun e«k our 
7fa V Feb 17% 110 
Ufavoa IE ius 
Ufa 7i May 97ft 11.19 
CSV. 19 CO HOW 9134 
lift TO Jan 97ft 1219 
11 71 MW 95 1223 

I WJUI 111 6*3 

7 WJun 56 12*5 

Sfa73M0V 95 9.13 

BfaTJMav 00b 1217 


DeotadieBankFtaanc* Ufa0Oet IBM IU* 
DeuKctwBatkFlnaMe UfaWAua istfa TIM 


Deufictte Beak Finaice 


Deurieb# Beak Lux W7w 6faTlMay MOW 614 
pwtschr Bank Lin JVR SfaTlMav 76ft 11J7 


SIOO DrestnefFtowa 

SS OWanatbuagHweHe 
S 135 Hoccast Finance X/w 
SBS Haodrst Finance X/yr 
IN Sdteino loll Fin X/R 
SB Stamens Weiiern Ffc 
5250 stamraWestara X7w 
S70 Veba irrti FtaanceXAv 

Sloe vvestua rtnmtce 
ecu SO WeaftaFkance 


11 70 AW ftft UN 11/0 

7bWFMl 93ft 1057120 40 

6b 19 Jut 54 110 IW 

■ 73 Feb Mfa UJ? 9.97 

iSfaTOAug 0ft 9J3 754 

* IS Dec IM 190 Iff 900 
7H70Mor lift 1203 9.17 

I 73 Dec SSfa 1170 9.97 

71k 17 MOV 93 11/6 UI 

lift 71 D#C 97b Oil 1275 

Ufa 71 Jon HSfa 9/3 M3! 


5 30 Haraea Xaama u n g &onn 

130 NcraesKa mora ataM* 

540 N Braes 

SX Naraas Kemraunrittaak 
175 Mens Kerntnurvd&Oftfc 
550 Nerptoe 
550 Noraler 
nkrJSB NOfSkDOtB 
SH IHrik Hvdre 
SB Norsk Hydra 
10 NatskHvora 
I |0 Norik HyOro 
IN Norsk Hydro 

50 Norsk Hydra 
■farm Norsk Hydro 

SM Monk Hydra 
STM Norsk Hydro 
SB NanfcHvdra 

51 OPPtamBiaiafr Kraftta 
SS OSoCify 

SU OsieQty 
nkr MO Ostaaty 
SIS OskaOty 
If MO OskaCHr 
SH Oslo City 
nkr MB OstaGly 
nkr IB OsleCUv 
s 58 OskiCBy 

sis nnM Id wdHKrafi 

tH» 54otsil DenNerskt 
I ISO SfotuU Den Nerake 
SIM SfokHI Den Norsk* 


ouosfaenic 7ft 0P* «| 901445 731 

nmoJtam* 7ft70Dec M UN 12/S *73 

nundbeak P.5 71 Die « UillUitA 
aunoBaank lftT2Mqy 90ft TOQ1L77 9J9 
nuro&onk fftTl/w «v; 11/41271 KL50 
ffaWAw 8Bft M731T72 *39 
8ft 19 MOT 91ft 1132 1234 129 
Wh ■» Dec ns Ui IUI 

tb-BJUD ms 70 70 90 

fftWFta my no* mw *55 
uwwjut nn U0 U7i 
17 7BFW 07b 1157 110 

11 fa 71 Mar Ml ft 1LZ7 IUS 
9 11 Sec Bb 1227 mm 
G 71 Ocf iu 100 f/s n n 
ItaTZAtar 0b 10/5110 9/7 

92b 72 Nov 103ft 910 ON IIM 
9fa W Jan BPb lCH 1L79 MJ1 
9 Krottlo WSJ Dec 77 9047 043 6/4 

9 BMov HBft ID 534 444 

SftWJea 99 90-90 UI 

9b W Jan Wft 908 90 

IfaWOkS- 98ft 90 1663 US 

n. 17 Mar wn/iui tjc 

9 W Mcr n 90 1UV 9.11 

lOfaTBFob 102 *0 9/4 RUB 

UfaTI AuQ ID 90 1641 

SbT7Hov SZW 11/1 9Z7S TSAI 

Kraft AbWOd « 90 9/| *0 

nin 13 WAPT UHb 110 127* 

nkr UftWJBl BBb 1L7I 1277 

rske HlfAel «Jb 1LI5 UN IB.lt 

SOUTH AFRICA 


SlO kstand 
SU Ice lend 
SM Iceland 
■SO icesatd 


ICELAND 

(kWJgi 


8b W Jan IB 11,19110 853 

8 17 F»B 93ft 129513/1 656 

9 17 Feb 94ft 1231 110 943 
3b 72 Dec 99 IIM 1197 120 


13b 73 Dec 

IRELAND 


50 Smii A frica 
SS Soutfa Atriea 
ecv 40 Saudi Africa 
|4U Soutb Africa 
IS AagtoAmeriamCarp 
S29 Escom Eieetr Suopiv 
IH EscainEtedr Supply 
SIS EsaamElectr Supply 


s» Ireland 
IS Intend 
ecu 50 I rated 


IfalfFea 98 11-53 11X3 9.17 
Ilfa-WAw bfa 12JE ns 
Ufa 75 Jan Mft ULI* 1430 


ecu 40 Pott Telecom Pretoria Ufa 170a 

SOUTH AMERICA 


4 HU Mft ILH 130 147 
7b 17 Dec 89ft 9209274 *46 
Ufa 19 Mw 191ft m/S IIW 
ttftWJtd 99 1276 11*3 

7ft 17 Mar 9514 100 047 763 
IVrWDec 97 1001694 696 

lift WJun 98 1123 073 

9-4 19 Mar MW I UR 1241 979 
12b 71 Fed 98 9354 1250 

IlfaWOa ID 18/4 110 


SB Alio Romeo I ml 


525 Enl Eld* Mac 

SB Eel Elite Nn idracar 
50 EM EMe Nat ktraeor 
is EM Enle Na idracar 
525 FdrrovteDeNaSI 
515 Ottverti Inti (kotl 
S5B Stta Sot Fin Telecomm 
IH Turin are 


7b w Apr ftfa 1133 UN 761 
7ft TO Job ■ 1680 1277 LB 

4ft 17 Jun 92 1663 1L3 767 

7 *8 Jan 85 U61 150 L24 

ShWJun Mft 674 1 029 7.14 
fib W Nov 94 171 IU4 7.U 

lb W Feb K 113 1157 9.11 
9ft 15 Noe 99 1667100 60 

7b 15 May 99 1133 11/4 763 

* 71 MOV flft 1047 110 90 


555 Brad 8b 

10 Colombia Bfa 

SH VCnezweta lb 

bait Eletrobras lb 

SIS Venezuelan TetetWane Ifa 

SPAIN 


EV 17 Dec 80 1233 1611 9.17 

IfaWFeb Sfft UJl IUS %7« 
SbT30ct 71 1464 170 1141 


9bT30d 
8b 70 Oct 
Ifa 17 Dec 




•at si 
SMB Book 
in Cate 
SR 


OfaWSes 115ft 12U 

II 70 AW fSfa 1239 

Of Tokyo CiMOCOP lift TO Doc Mft 

ntfc 7i Fea mn* 

Bb7Ucn HSfa 
Mb 71 Nov nib I 

Ufa 77 Jan 100ft t 

5ft 19 Mar 111 295 

5ft 19 Mar *2 1UB 


51*0 


15b® Aw 

187 

530 

AutanttJta 

7 WJul 

ft 

530 

Ini irnSitu! Mac Indo 

■ ® Ocf 

97 

515 

Pefrooar 

lft TO Dec 

97 

5 IS 

Pitronor 




SUPRANATIONAL 



1MWOK 



Afrkre, Devete Bank 

Wfe 71 Dec 

M1M 

9 75 

Asian Develop Bonk 

fiftTOkug 

97 

y 15800 

Aston Oerete Bank 

5b 88 Sec 

95b 


IUS 1671 
6/4 11.11 7J7 
963 1067 835 




550 Ou/ia El ec tric P ower TJfa 71 Aua HEft 1143 lin 

*50 Owaeku EJeetr Power IMWAas mft Ufl UK 

5B Otraaac Tokyo Hoidkw BfaWDec W*> 1167 12M ffl 

SUO Dot-imKenOYoBonfc DbTfOct 99 Ufa 

175 Ejuori-import Bmtk Ufa TlJun 109ft ius 


HIGHEST YIELDS 

to Average Life Below 5 Years 


vs saw 

50 Fulftura Ltd X/w 
Hazomo/Suail Ud Wi 

lt!S3i2r IUdX/ 


Ufa 71 Jun 109ft UN 
WfaTDMav Mb 1237 
7b 16 May n IUS 
7b 19 May 55b 1237 
ffaWNov 102ft 146 
Ifa 2? Nov 92 I LSI 
lift 70 Mar Mft ILM UN IUI 
" “ 120 


13ft 19 Nov 101 UN 
T2ft190ct BI2fa 110 


UftWApr fSfa 110 
lift WMar 98fa 1267 


Ufa 19 Jut 1CV, 10.14 
DftWOct HTfa 110 


10 Cofomteo 
115 Ward Foods 0 f* CcdBo 
550 VenmuHa 
IM RetmnceTranscoBtlne 
5 37 Bauxite DeGotee 
SJS Bnxtil 

550 Eni Ente Nax Idraew 

50 Burl tool or 0/5 
SU Venccuten Tefspfnne 
cnSTS Inti Hnrvuitf Crash 

H HtO Oaortar C/not Id 07* 
ft 100 Rhone-Potfenc 
H ioo CJmenfaLcdarg* 

HIM Ecs Euro Coal t Stem 


HIM Sift ISM 1*0 974 


maun 73 1S9I17J8 70 

BiTIOCt 76 1464 170 110 

fit » Fit, 77ft 14/2 1663 *DA 
I "90 Dee 79ft 1X34 U.11 KLM 
Ifa 17 Dec 98 1273 WJ1 9.U 

7 NJon 85 1141 140 834 

7b 17 Apr 92ft 1199 1X71 10 
Ifa 17 Dec 89 HU 1545 9J7 
9b It Apr 93 166S 16161641 

7ft 17 OK D 1661 17/4 9.15 
7ft 17 Apr 19ft 1X45 1601 K0 
7ft 17 Jot Mft 1149 1577 647 
7b 17 Apr 92 110 1575 70 


10 
SIM 
S 10 

SIM 
550 
550 

'JS 

SIB 

SUO Josor AJrtfan 
SS4 Japan Air lines 
so Japan Airlines 
SS Japan Devtes 
5X Jetaoe Devdop Ban* 


Ufa II Now lift 1218 


lift 75 Dec 100b 11/911/4 1144 


lSfaTOFet 95ft T2U 
UfallJid MOW 11/4 
93 71 Dec lMfa 1162 
lObTIJtm 94 UB 
lHv 75 Jan R 111! 

11 ITFife Ml 7 64 
11 B7 FeO 99 I1J7 

7ft 19 (Joy 9* 645 

7W0MO9 SSft 1204 
1JL-S9AOB 107 11/1 __ 

11 TO Jun 961* 1171 11.91 11/3 
Uft-MMOV NS 1167 1160 

UfaWAug Mfa 1176 120 

11 77 Nov fSh 1LT7 ll.U 11.1* 
Ufa TO Aw 91 IU4 11NILH 


HIGHEST YIELDS 

to Average Life Above 5 Years 


M 74 Jut 71W 
TO 74 Fell Sift 
M. 71 Dec C 


71W US* 13/3 110 
Sift TiB 14X1 1168 


15ft TO FA lBJW 1U4 
Ufa WOd If lb UN 


SS Joeoa Svntll Ritee WAV 7b 19 May 84 *63 

130 Japan Synth Ratoex/v 7b 19 May 16ft 1201 

558 JuscoColMW/W * 

ISO JuacaCaLMX/er 
into xanMl Electric PMtar 
530 KayaHaladuttTVWTW 
5 3D Kovatm Industry XM 

SMO KyowoFlntraO*) _ 

19 Kyutei Electric Powm DfaWJul in 1227 
SUO Lano-Twan Credit Bank Ufa 19 Aw 98b 1234 



8b 11 Dec 82 11011821167 

9 73 Oct lift 1264 1170 1164 
ffaTOMOr C U.0U63 110 
9ft 77 Mar Bft UN ON UN 
9 TOFeb C 1X10 1X48 110 


9 TOMOV 83 1160 044 IB64 


lib 77 Jin 10 UJl 1U4 1192 
17 76 Dec 114ft 14J5 TXS5 M/S 
Mft 90AUS IMft 1X23 U23 TIN 
9 72 Feb ISW t220 t25fi 1653 
SO 74 May 91 1163 120 11.11 

n tijui niift UN iiN UN 


I IDac in 461 
■ 0 Dec aa tXD 
12ft 19 Oct UQ 1167 
fib 19 Feb Mft 761 
4fal9Feb S3 1164 
Ufa 76 May 183 13JB 


— HIGHEST CURRENT YIELDS — 


SG5 Lana-Term CraSI Bank 35b 19 Aug 116b iu 
ots73 Lana-Twm Credit Bank lib 70 Jan lift T2b 
SUB Lana-Term CradH Sank II TOMar 95ft 123* 


SUB Long-Term Credll Bank 
585 Lona-Tann Credit Baric 


10b 70 Jun «3fa 1240 
17ft 70 Sep 105 1131 


S125 Long-Term C/TOft Bank 13ft TIJul 1D8W 11/3 


SMO Laao-TermCrMHBcitk 
iwe Long-Term Credit Bank 
in Maraeenl Carp 
S100 MtebnaCeWrit 
I10C Mte btta Co XJm 
550 MitnoittdOmnikw/w 
150 MtaubMi atomic X/w 
SMO Mbubtlhl Caro W/w 


TO Hoy Mib 12/4 
TO Dec UXfa (167 
TO Dec 97b 1167 

ff Fea law 245 
ifa-tfFea 13b till 



lift 77 Jul SBft 169 
1 7ft 0 Nor HB 117* 


T7fa TO Jul 104 140 
17ft TO Od 105V: UJl 


ITfaTOOd IWft T5/3 
17 TO S«P ra 1572 


TTftTOOct taift 1463 
17 1500 n» 1640 


IfibWSep 1B3 M3S 
ITfaVMw 100ft 179 
II TO OO 10 1491 

17b TO Mar ler* is/4 
II TONou 117 UN 
17ft TO Dec MS MB5 


SUB MllsuMshlCaraXTw 
SIM AMtMbWliCDrp 

SIM MffMBbSW 

saw Ml total *4 
SMO MlS/feU 
530 MltttAUI 
5 SB MHsubKM 
SMO fMlsabtahi FeiO/Jx/w 
SMO Mnsutetd Ftaana 
, 19 WtebUiiGasWfyi 

S0 fWUubMilGBXAr 
S60 Mfttttafdtl MeM W/w 
S40 MHsubiM Otalal X/lv 
SIIO AUHufdshf MektlWAr 
SMB MlfHMstdMelalX/w 
S12 Mtbubfttii Raven 
158 Mtari Engineer*! W/w 
SN Mitsui Epgtaeertn X/w 
S50 MIfyf Engtoe erin W/W 
550 Mitsui EngteerinXAr 
19 Mltaul FTnonaeAda 
SIM Mdn) Flnoncx Ate 
SIM Mllwti Finance AM 
SMO AHIsul Tnnf Fin ffik) 
SIM MlriulTnatFIn Uik) 
SMO Nippon CraWt Bonk 
SH NMaan Crest Sate 
sua Nteon Croat am* 
SUM Nippon Crebt Bank 
SMO Nlapen Cratl Bank 
ecu JO Ntean Credit Bonk 

SIM Nippon Crwlrl Bank 
$100 Ntopon Credit Ban* 


UJW 72 Frtl 
19ft 75 Feb 
Ufa TO Mar UI 


144 161 

0 IU* 

K \\5 

11 


IlfaTOMcr HIT 1 _ 

SSK * ,w 

7* If How 
TfalfNov B 


MS IS 

ecu 40 Ecs 


7b TO Oct 14ft 
lift II DM 99fa 1164 
IMTBAug todfa 11N 
1*fa72F0 9934 120 
lift WHov TSIb 1131 
a to Feo mw i ' 
Ufa TO Jut l|4ft I . 
15b 0 Aug 111 T167 

11 TOMar B 120 
13 70 Aug IB! ft 11 
Ufa 71 Now 91 
11 TOMar iDb 
T2fa72 Jan MOW 
IlfaTJFtB 15 1 


*25 gS 
SSD Ect 
«JSB Eec 


«Cu 80 Eec 
ICD4I EK 
150 Eec 
ecu50 Eec 


S108 NlPMa Kokao KabusbBt OfaTTSeo tQfi 


FklfMar 165 

fiblfMcr 65ft 1 

DfaWOd Ml ILM 
Mft 7! Fan 92ft 1X15 
SfaTOAtar 95 1IJB ^ 

1 Oft TO Jon 9* 1L22I1/IM2 


1Tfa7»F0 99ft 1161 
UbTO Aug 104b 110 
lMTOFtO IS UJl 


13ft 19 Aug MSfa 1166 
4ft 19 Feta 0ft tO.17 
tft 19 Fee nw hn 


12J4 TO Dec 
SbIBNov 
4faVNov 


99 J13J 
Ulft 10 
■4 1163 


7b 19 Apr 131ft 123 
7*4 19 Aw 1414 1969 


ifaVAW UM 463 
fifaWAW 83 1307 

7ft 19 Aw 124ft 67 


4 19 Feb 81% 1227 
5V IT Alar 0 1123 


lift TO Mar 97ft 1218 
Ufa 19 Dec *9fa TIN 


13b 70 Sep Ml* 
Ufa 73 Jan *7 
13ft 19 JUl M4 


SSD Nippon Mining ft/w 
5 SO Nippon MfataaXrer 
IM Nippon Shinccn 
SUB Ntopgn Saeef Coro 
SSB Mteon TetagraTetanfi 

S50 NtemaTWegraTotah _ _ . 

SIM Ntpooo Tefrsra Teteta Ufa 78 Fib 99ft ||6I 
SMO Miopon Telesto Tofapll 
SMO Nlnoon TtlegrtaTetaph 
SSD Nippon Vtoen Kobusnf 
S3B Ntattm Iwol Core W/vr 
ltd Ntunp iwol Carp x/w 
S MO Nomara Europe 
SWg Nomura Socw I ties W/w 
SMO Nomura Securities X/w 
SSB OttxirstttFGumiW/ar 
559 OOboyoshLGumlXA. 

*30 OmranTotaitt Ele W/w 
SX omroiTotefal Eta X/w 
50 onodD Cement Co W/W 
50 Onetba Cement Co X/w 
5 25 Orient Leasing (curt) 

540 mnown lac W/w 
sea nenewn incx/w 
10 Rkofi Co Ltd X/w 
SN saltamo Inti ihkl 
SN StewalidtfRaoncaHk 
SM Sanwo Inli Ftaonee Hk 
SIN Son»m tntt FtnaoceHk 
SM SPeware Brew e ries 
SN stee Tr onswn tu t w/w 
SN Seine Trauportot X/w 
SIS seivu Stores (Aar X/W 
SN srlru Stores Dec 
ISO Hitafaj Etoco-Paww 
sx Sumitomo Construe w/w 7ft 19 Aar 727ft /a 
IX Sumftomo Construe X/w 7ft 19 Apr 84ft 1163 
stio SumWcme Corporation lOfaTSMw «3ft 13M 
SN 5um«tanm Ftaonee Ate 15ftWJuJ 111ft ILM 
IIW Sumitomo Finance Ate 19b 70 Jun 94b U2S 
SIN Sumitomo Finance Ate OfaTOMoy 10114 00 
S IN SumHoam Ftaonee Asia lib 72 Mar f*h 120 
4*0 Sumitomo Heow la W/w 4faWMar flft BN 
S« SutnUomo Heavy fn X/w AfaWMar 82 ail 

S« VPnltamo Realty W/» 1 18 Dec IWft 4/6 

140 Surnttmo Rrattv X/w ■ 19 Dec SSft 1 LX 

JIM Suraiforan Trust Fin Hk TTfaTOFeO HO 12A2 

'Si TdftnKteennmieoHk 12 TO Dec ft Oft 

SMO r 2 Slte 3 S ePD " ir m T1M 

SX Tokyo EWctrtc Co W/w 
*2 Tokyo Electric Co X/w 
SIM Tokyo Electric Powav 

ss TobgoMetmeilli 

*58 Tokyo Sravo Elea W/w lift WJun 20 HB 

SN Tokyo Sanya Elea X/W lift 17 Jur tge 11/3 

S50 Toravlnotulrtew/W ttJfaTOMa 119 <67 

SN Toroy Indwtrtos X/w Ufa TO Mar 97fa 1164 

SX Toro Eastanermo w/w i ft TO Mar 117ft 165 

SB TamfinBtewliftX/w VATOt/er C 120 

S10Q YcmOc nj log_ UbTO DSC 95ft 1 2X7 

4108 YasudaTruji Finance I2ft19Aw M3 1U1 


eai» Eec 
SN Eec 
IN Eec 
S3so Eec 
575 
175 
STB 


0 UM 

97ft 1161 117! 9J4 
90 9.13 


6faTOMor 50ft 90 
ifa 19 Mar 831 1 1234 


11 WMar 18ft 110 
II TODBC 98ft TL4J 


llfa 78 Jan 96fa IUS 


I TOOK Bft 1LX 
13b TO F*b MB 1262 
12 TO Dec ft 12* 
TTfaTOSep IO UM 
HfaTOFOB 99 1149 

*ft1»«4ar 94ft 763 
dft TO Mor D 1183 
UbTOJtP 190ft M61 
1294 ,4 Jut 104% UJ] 
lift WJun 30 3*67 

IlftWJun rgi 11/3 
tOfaTOMw 119 <67 

Mfa TO Mar 97b 1164 
ift TO Mor 117ft 165 
kftTONto C 130 
UbTO Dec 95ft 12X7 
13b 19 Apr M3 1U1 


LUXEMBOURG 


S3* Bhl-Bank Inti W/w 
*34 Blit-Bank toNX/w 
ecu 40 SndSacNatCredinv 


7ft TO MOV IM 567 
7ft TO May 71ft Ult 

W* 14*409 IBb tax 


540 tela 
IX n n et ta p 
4774 MeOat 
*30 Common Fed Electric 
*75 Cetnltea Fed EtaOric 

ariH ttactonglRnonciera 17b 17 Mar IMft 170 

575 Perns* Petrataas Mete 1 7ft 16 Nov 1BS 1139 
iS Pfr’gkftfo teaWaric lift 87 Apr nn M*| 
IX Pwnei PefnUeo8Hex(c IftWSte mft 1167 


Bft VMar flft 130 1565 9JS 
9b TO Dec 82 12M 1162 11*7 

Mft VAN 109ft 1*0 1469 

8 W Feb 92ft UN MU 80 
13 17 Nov Mft 1162 1X33 

17b TO Mar IMft [70 170 

17ft 16 Nov MS 1X79 lk*7 
lift 87 Apr HD 14*8 Ikffl 
BftVSlP 93ft 1167 an *69 



4125 PemearPptnttaOSMauc lift TO JUl 93ft 1460 102 130 

MISCELLANEOUS 


4X BoukHMOeewteO 
*75 Qevcfap BkStagapmB 
SX S it tOteo re 
SX TrmaolPiDeFtaanca 
427 TrnaoMnv Ftaonee 


1 TO Dec 79ft 1X34 nil Idas 
lift TO Aua W3 U3S 1U» 
7b VHg* 95 *63110 Lit 

lb TO Jul 98ft 1163 1U7 05 


SSB Aegon 
*40 AmevNe 
5200 Amro BoM 
IK AnttOBorit 

s« cam aricn Ska* Mines 
450 DSM Dufctt State MktaB 
5130 DteDutd) MRB WAV 
SU Eimtotiy 
SX Gfat-Bracodes Ints 
SIM Holland Airlines Ftp 
SB Nafertonda Gasunl. 
*73 NHfertcndse Gasunte 
575 Nta to tlOnO M CraWii* 
5200 PMItal Ctomkxnp W/w 
5X0 PMUpsGOttedwX/w 
S75 Rotobcnk Berated 
140 SbeB Irdl Fktecn 
sn stnQ inn Rnona 
500 SbeR loff Ftaoncr 
5« Shell toll Finance 
5 JO Utysrai Bg Ftrejnc* 
SMB iMMflh 
4Hg unttaverKv 


[hnneo tbTOJul 98ft 11X3 1137 i*s 

Tnonce 4ft 15 Oct 97tt MUI 1D/4 4J7 

NETHERLANDS 

llbVftD IM 1167 110 

t VAug 9* 96911.13 *X3 

LSS* ,BI > ™ ,U8 

1IH4 TO Aug 94ft 1215 710 

cJO Mires Ifa (7 Jun 94 UJl 1165 L71 

ale Mines I fa TO Aug 84 tanius 9 XI 

ataMhte Ufa TO Mar W, Qfl ll Jt 

15ft W May Hnv 1167 1465 

BfaJJJul 96 1X60 1364 *47 

SSS?” S 1Ut “ 

15ft TO Aar 65 1165 ll.M 

Ufa TOM 9TA1US 11/i 

Mtt V Mgr 98 1U7 ILM 


ZERO-COUPON BONDS 

JSA, JPWPI S. "BS 

JfSwW sjm TM4 Mft 
iFtbim S5P3 19C 3JW 


AmerioHialfGraupM 
/tea Deveao Bank | 
Aflonbc RiddWd CB 
Btaor Inti Ftavtce | 
Beatrice Fends Q/t* 
caotebeasaunO/iFta 
CeRraMar Rn Sente 
Cahra«arFtaSen| 
Contras Saytaos Bank 
! DgPgitOfsCuprtaJM 
EJaportflnons I 
I Btaridftfraaal 
BaaiOmrtd ■ 


S DePronce 
DeFneus 
General Efedric Cnd 
Oeratd* ElfdncCred 
Centra* Etacfric Crea 
Getcrd Electric Crod 
General Electric Old 
General M10 toe 
General anioc 
, Cora G/i Ftaonee 
GmoeO/s Ftaonee 


TTO4 Mft 

ZFtbl992 5* MB 2^ 
JWIT997 SZB IW 35ft 
71 Apr 22 sa§ 1B2 27 

IJ AK 1992 sS 1982 24 

11 ffb 1994 5 MO I9C 18.1 
UFeaaU 51308 Teas 

ll Feb 2? S9 ° taO 

303 1994 5 360 1984 

115eplM *500 ITS* 32% 
UNovM STOOD I9B4 (USD 


IS NewZeofoad 
495 NewZmrfand 
1108 New Zested 
y ISOM Kew Zealand 
IIM New Zealand 
ylNW NewZetated 

558 Sank Of New Zealand 
SX DerFlii New Zealand 
42 K* Forest Product* 
42 N{ Forest Products 
SB otfsbere Muvnfl 




^jTOJul M6 L43 
fib TO Jut Sift 1163 
11 TOMar Wft 11B7 


1 9»y >0.90 llffl *38 

J? Rft Jiff ltij fl.il 
Tfa VMar *3ft lux in 
WWW Mb 110 90 

lOfa TOMar rn 1247 1163 

J?2 Jul ”65 >69 

TbTOJul Mfa 11.13 1177 1U2 


TbTOJul 

NEW ZEALAND 


ZlFBbm SUO 1*83 
1 Mar 19M SUB 1982 
IT FBI 1*93 S4M 19S2 


17 Feb IJJ3 la I9D 
4 fieri 9ft s» T9E 


ft 1 


Gmaeo/iF« 

Cu« Oil Plnonct 
HmeEntandLift 
Nun£c investment Ok 
Penney Jc GUbar Fin 
Ftattrico Cataw 

Pppdco Ctmdol 
Ptdllp MtaTUClWM 
Prudmttal RaattvStC 
RcynatasRI 0/5 
| SeanOvmsM 
5eareOyersaB 
soars Overseas 
Smedtsti Export Credit 
SwMbb Eraarl Credll 
Swiss Bank Corp 

Writs Fargo toll Pin 

Xenn CreoHC’sFm 


SbVJui 9ffa 963 967 SB 
fift TOMar 97 *63 all 6JQ 

JJk TO Dec * 1061 SJJ 

BBVDec ID 1 * 70 Lll 

WkWApr Mb 110 110 

7faT?5eo Ml 7J4 70 

lTfaTOMar 94ft 12 jS 1L79 

BftfSJun 99ft 1BD91L17 U 3 
9 TOMar 99 1663 tm 

IlbTONOV lOT'.r 1216 1U6 

IfaTODec 180 LIB 813 


15 Ase MX (250 NBt I 

% fl* 
^ la w n 

ZMartffl 130J fl(] 2US 
1 Fab >999 189 IMS *5 

IINP19M SIN 1M4 31b 

I7Ft*W4 S2N 1982 1897 

4Febt«7 4 DM 1983 J* 

I Mor 7994 SI2S 190 2Bh 

I Jun MU (390 I9t! JJfa 

15 Jan 1999 Sift TTO4 300 
RF«22 *« 1982 2Sft 
liFrtlfB (48B 19*3 24J39 

17 Mav 9984 *498 132 23ft 

njullffl 5 SOD 1984 2Dto 

WMwJS SMO IW IfJBB 
JJ Sen 19*4 5250 190 X292S 
UNratfR S4M ,|0 - 

4FtC iraj Id 190 

II Feb Mft S2N IW 


iy 


Amt 5*ari9v 
ffrSDO Euraflrno 
(40 E ureHma 
' IX Eiuuntaa 
ylMM Egrofima 
SS Eureflmo 
175 Eurafhna 
IS Eurefuna 
5 188 Curaflffio 
eoi4D Eurafima 
y 10000 Euraflrno 


i Dev fn lib 91 Star 98*. 110 
iDtv Bk (fall Nov WW 763 


S 59 Nordc Invarimenl 
75 Nordic Invattmant 
125 Nordic I nvesi meat 
ter 100 Marita Imreltment 
5 75 Nanbc lovofment 

SBO Worto Bori 

*310 wwrta D mi k 
*350 World Bank 


iiii 


*308 WdridBm* 
S2SQ world Bask 
5X0 World Bank 
429 WorWBgnk 

*40 warMBora 

USE 


r 2M00 World Balk 
ITS World Baric 
COSTS World Sank 


y 20*00 World l 
y 20000 World E 
4181 World t 


-280H World Bank 
ecuSO World Bank 

IS SSffi 

71 SB 


4300 world Bm* 


41M Swecte 
SS AOttAb 
IX Atta 
<20 AttaCopca 
S» Eiaefrafcat 
SX EricsmLm 
5» EricrasLm 
*X ErkmanLm 
535 Ericsson Lm 


«4oa stream nfaiSAua n»b ton 120 

sS Sweden WfaTOSep MB'- 110 ._T2J4 

1)40 Swten Sfa T7 Jai 96ft IIW 1127 L73 

SUO swwra. u ftTOD« WTVt 1166 1149 

JXO 5t*eaen I3b TO A dt TOlft 1167 1299 

51* ffaBfMav 91b 110 KL40 

5 309 Sweden lift® Dec nrVi 1LN 110 

y 15008 Sweden 8ft TO Aug Wfa 7Jg 

IN Sweden Ufa *3 Aug 99b 1167 

s TOO Swedmt 11 fa 94 Dec 90 12» 1L«9 

S2S AaoAb efa-fflJun MftU0H«97« 

*x Ana BftTOiAor 9*b 90 TOJB 861 

SM AftaCopcD TOVBSAug 100ft 10 BBJ 965 

550 Etacfrakai ISftTOJun Mft IIW 1L11 

SX Eriam Lm ffaBIDec 99ft »0 9J5 *0 

I» EriasoaLm 4ft TO Mar w fS 

SX EricnonLm 8ft® ASF M US 5-2 

535 Ericsson Lm 9faTOS*» 87ft 1269120100 

141 FOrsmarts K/aftarupP lObWAor « 1123 11.16 

475 Forimona KrattgrueP 13b TO Oct lliiv )2J5 UN IIW 

546 Goetaverten lft*7Seo 93ft 17.14 IUI 149 

IX GottteoburgOtv giVOec 94 1U4 *0 

SN Grammas 9b 15 May 18813 tSi 464 920 

SI s Gromgnbera fifaTOOCt n 90 1165 7 2b 

SU GraSSSog BftWFeO 93 11.10 041 90 

535 ModoMoOdtOomte 9 TO Oct 71 11JQ 90 

5 50 OksM UfaKOec 163ft 100 1X22 

SSD Pktaooken Posa-Odt 13ft *7 Jut IMft TU9 >192 

475 PkteikmPast-Octi 12 TO Nov 91 1247 120 

5 50 Sate-Scmda IftTOMar flft 110 92* 

SX 5^dvtk fftTOAar TO «43 1163 960 

415 Scoovtk 9 TOAUO TO 1049 1L01 9.18 

SX ScarettaavtanAb-BneS I 45 Jun 99fa 10X7 1066 80 

SX Sanraft Bbtscta 91 1101172 * M 

IX Samraft 7ft TO Dec SS U.O TIN UJ 

sue Skaadi EnskiadaBank lift TOMar 98fa 1221 110 

*40 BtaatU EnsfctaaBarfc 9 TOOK 88 11.17 UM 10JDB 

SX Skt A/b I 17 Jan Mft till 1025 L39 

SX Sodra Skocntsarm 9ft TO Dec 99 1L0 1285 90 

S3 SacrtacnkBmas Bonk BbTOJoti 95 1084 110 921 

SX Sverako Hondefadonkan fUTOMcr 9Bb TOil 1UB 9J7 

5 45 fivenskoHotaetsbonkmi Ufa to Apr laru t2<o lis 

SM SvenstoHcndelsbcteen 17b®Fet) 99ft 9154 120 

sdrS Svtrtgts Invwsl Bank 9 15 Dec 99b 90 9J0 

514 5 vertges invest Bank 7b 17 Nov *S 953 1096 Lit 

ttrSOS Svertta Invest Bank Ufa TO Jun Ulft 90 9611867 

140 SvmcBtti EtaierT Credit 13ft TO Mar 100ft 967 1K4 

I WO Swedbh Export Cradft WATOMor 99K 110 


548 Gaektverkea 
sx GotneafamOtv 
SN GraenpBS 
SIS Gramtaesbera 
4(5 Gremmdm 
535 MadaMoOctlOamte 
SX OkaAA 
SN PttoakrniPosf-Och 
40 Pktetkmt Pnst-Octi 
sx SoteScaoto 
5X Sondrik 
SIS Saodvtk 
SX ScandtaavtanAb-Bnes 
SX Saptrafl 
SX ScanroR 

SMB Skaadi EnskiadaBank 
*40 Skaadi EnsfctaaBaifc 
SX Ski A/b 
SX Sodra SkOBKsarra 

sN SMfeaakanwi Bank 


514 5 vertgas invest Barit 7faVtlav 9S 953 

HrSOe Svertta Invest Bank llfa TO Jun Ulft 90 

440 Swadbh Export Credit 17ft TO Mm 100ft 947 

5 WO Swedhft Export Credit Ufa IS Mar 99K 1143 

4N Sweririt Export Credll ISVBtJgn IBJfa U64 

cnSN Swedtati Exparl Credit 12faTOFeb MBfa IIM 
IN Swedish Export Credit UfaTOJul 98ft 110 

025 59 StedWt Export Credit JZfaTOSes Ml 1LEJ 

4 MO SfaBdMt Export Credll lift® Feb TOfa 047 

SMB SweNtta Export Crerit Ufa T9 Mor r06 110 

Sin Swmttttt Export CredH MbTOFrt 107V. T268 


• Mi SiedbnExpoHoiS Mfa-fOMOV 107ft 1360 006 1373 


SMB Swgdltti Export CrmSI 
SX Swedish Stote Co 
SIS SvTOvmwko Kfott 
40 Volvo 
525 Vote 
SIM Vote 


ri CrmSI TlfaTOFta 97b 11.16 110 

Co 15b TO Jon 187 110 102 

raft ffaWSen 9Bfa 1845 110 961 

8 VMar 95 1890 L43 

I 47 Sep 94 16JD1U0 *51 

II TOAug 97 1346 110 

SWITZERLAND 


Crerfit 



KTl~l-.-li • .i - 

M 




m 



£ 


hN 

SS 



PTT 


Union 

Union 

BkSwtlzarland 

Bk Switzerland 


fib TO Nov *3ft *63 
10ft® Dec . 98 1143 

IDft TOMar 98 1143 

7 TO Jun 99 7X3 

7 TO Jun 0 11.1* 

UbTO Feb 99fa 1151 

ffaTOMtar 9* 1067 

fifaTOJUl lm 5X1 
Mfa TO Jest 99fa 100 
MATO Jun 91 741 

ifa TO Jun 75 110 

lOfa 47 Nov IMft 1041 

10 TOMar 99 BU6 

11 ®Nov 181 1069 

13U fl Jtpt M3 IIJI 


UNITED KINGDOM 

SIN Untied Kingdom 
S3 Alrieaie l ittl Finance 
SN AMmehiN Finance 


SN AirtaaM InM Finance 

.js Kssr"’” 

575 Allied Lyons 
IN Allied Lyons 
175 {natal 

IKS 

tf 50 Bam 
HIM flat) 

4100 Batlail Finance 
I HO BrilrilFtenct 
545 Beectemlafl Bermuda 

sssss. 

514 BriShL^Syintl 


■fa TO May H 11.181174 1049 
9 TOAuo TO M49 1137 9.18 
FfaTOOd 93 1L1I12J5 941 

IDfa TOMar 97ft IL9L IMS ION 
fib 71 Dec N 7J2 743 

11TO7I Feb 97ft 1223 1153 

13857200 H1K 1231 1144 


Ufa TO Jan 101 1271 UR 

Ifa *6 Dec 97 10.U 1865 UI 

PftTOSep 0 110 HR 


7ft 77 Aug 90 120 14.19 *0 

7ft 77 Nov 19ft 13221X64 LN 
11 ® Dec TO US4 11X3 
IDb 71 Doc 99V. WN 10*3 
Ifa TO Feb ttfa T0J9HU9 160 
tax TO Feb 95 1174 1143 Llfi 

TbTOJul 99 1147 945 

ffaTOMay II ILN 120 1BN 
I 77 Nt»* 94 H4511I1 


550 Brmttl Oxygen Ftaanc Mb TO jut *7 1149 

IN BrMttiOkVBmi Florae llbllMoy HQ 114! 1U1 


S!2 Oxyoen Florae 10b TO Jun 93 RX2 110 

SIN BrtfWi Petrol Cant la — 


SN British Steri Corn 
SR5 Brito 11 Finance 
40 CritervSdraePPe 


*25 Cnpffai Cauatir - 
SSo Cavraham Inti 
HIM Charter CttUafldOfs 
IX Dmso O/s Finance 
40 Commercial Unte 
438 CaurtOBkh tott Fin 


10 CourtauidslnU Fin 
00140 Ebco Finance 


pea Ebco Ftnancv 
IX Ernl Ftaaoce 

SX Finance Far iM&strv 
IN Ftaonee For Industry 
S® Finance Far Industry 
10 Ftaonee For Industry 
112 FtamceForlndurirv 
IX RaanceFar Intaistrv 
4*0 Ftaonee Far Industry 
14a Fbatce Far indurirv 
50 Ftaans Inti Flntxxx 
HO FMamlRtlFinana 
SN RM tall Ftaonee 
110 Gettetner Hokflno 
(0 Gold Flrias Bermuda 


lift TO Feb 8fb 1,43 tlx 
IH® Jon flft M74 1U3 M2 

Ufa to aci no U6< lUB 

O/S TfaTOOa B7 IBM 1271 LIT 
9 TO Nov 95 Mil 110 947 
9ft V Dec 94ft 110 124* HUB 
7ft®Od C WJ1 1744 9.15 
l»73Aua 105ft 1IX 110 
sft 76 Dec 97 10X7 11M *7* 

9fa 75 Ocf 99ft 9J7 90 90 
,9b « Dec f(ft 10JD M4A ILN 
Ufa 73 Oct MJfa 1053 1043 

ffaTOApr N 11121161 964 
14 TO Apr 101 11® 1180 136* 

WTODfc 81 1058 1165 9K 
11 TO Feb 99ft 11.19 1UM 
J2faTOOd m ft 110 IUS 


18 WMar 97ft U179 10*8 1L3* 
13ft® Jul KHfa 11JA IU* 12X3 


17ft WJul KHfa 

Ufa® Jul 111 IIJI 074 
10ft TOMnv 9* 1154 ION 

«77JtP Nb 1*4*110*71 
1H1WD9C 9* 12*7 1*68 

Bx TO Alta 15 1167 1361100 


11 TOMar 97ft 1194 ON 110 

imurakri 98b MJ> UNION 


13 CtwriMehupCtamtok XftTOSug fm U5* 


SU Grand Mefrra Hotols 
SB Grand Metrep Hotels 
sx Guarrian Roraf Excite 
S25 Go» tntem uli onm 
SU Guxln t errxi fl unui 
*34 Homtnus 
525 Hambras 
SMO I toranenuB Property 
40 HoePierSiadeiev 
SN HIBSamuri Group 


fUTOJan 99 M47IL4 9X4 

>ft 77 Dec 91 JLH run 

4N Gug ntan Ra te Ejcchmi 8 WJul « TO® 007 LSI 

8ft 76 Mar 98 1069 t2Q5 L47 

Wb® Apr 94ft 110 liaMJE 
Jft TODej 99ft ILM M0 9J5 
7b® Od 93ft 1L7T 110 139 
R TO Dec 99ft au - UN 
Ufa® Sep N* 1Z0 t274 

^ -.--r r.- te- - Jft TO Nov Mfa 100 110 8J3 

.** He wdea Ale x Ftaon X/w JW71 Jon 85 1X13 IUIU.M 

KSfBf***" tbTOJun nw iu* . 1066 

IfaTJJan 9* 1X72 ILH *59 

JftSg* « 84* 9® 70 

H TOMar Mft ILM HJt 

17 ® Mor KDft 110 11.94 

TOAug 103 TO. TO 

lft TO Dec « 110 

lOfa 73 Oct 91 ,10 

Mfa 10X3 11*5 LM 
D TO Jut 101ft 11*4 1111 . 

7ft*F(* 93 16.95 7 1.97 *0 

lift TO Dee ffift nil 120 110 

18 78 Jul 99ft 1213 129* 


SIM Id Inti Ftaonee 
5N Id Inti Ftatxra 
IN ine rntl HakEtaas 
5100 Investor! In Industry 
ecu W Investors In Induttrv 
IM tmrettare In ladusry 
ISO Imators In industry 

* I lTS M 

4*5 uss^sgisr 

*40 LonrittMUFtaanca 
Sil Metrapol Estate 
40 Mrirapol Estate 
SU MMtaed mtl Ftaonee 
*75 MUtond Lett Flnancp 
SIN MkOood tan Ftaonee 
SM6 riottaaaJCoalBamd 
SN National Cota Board 
SN Nat t-GrknUays Book 


JbTODec 97ft MS 1890 897 
8 71 Feb Ufa 1L77 IUS * 47 
M TO Dec 97b 70.16 Klfl L95 
SbTOSeo 85 IUS 1344 103 
17ft® pee 9*ft M U0 
I WSeo 95 HL31 US3 L42 
gf »OCl 94ft 1049 11X9 9.13 
7b B7 NOV 93 18*2 llfl 8X7 


*5 wW MHBBair fe* ms SfaSf"* 55 


SHO Nod WesfairtnsraFta 
4 IN MnWWettm lni t w Fm 
52 Phaser Irta FftoncB 
*25 Bonk Oraowsniton 
SB noted Fbxmoi X/w 
125 Reed (aederiand] 

*40 Itoedintoraatinal 
*X Rhm Intemattand 
*40 Shm Overeeas Ftoonci 
*100 Plo Tlnto-Zinc Ftamc 

l» RoaadiitolitvHeMta 
IM RawtatreefitocUntoih 
IX Rownrrie MacUnteh 
575 Rdrscsf tali Frames 
430 srattondlrta Ftaonee 


TOJul ip. 90ILS1 9.'l| 
lAiTODec IM 1145 1141 

Ufa TO Ho, ft IW 1U7 
JftTO Jon 98ft 90180 843 

£2?^” ZL KLniun 943 
.SSB" .7™ >10 12JD 1L50 

f k SH 0r 'St 1419 

9 W May 95ft 11 J6 12J1 90 

S 5i Wr W 11U2 110 L5T 

* TOAug *7 110 12X7 10J4 

15S?®* I 1 >10 

JJMWAug M4ft 1123120 00 


“faTO£«} n UB7 11.10104* 
TfaWOa B7ft 1747 


TfaWOa 87ft T 
Hfa®M0il 97 T 
ft** TO May Mft t 



West LB 


Med Pile* Mat UfeCurr 


MftVOd lBfa 9M 100 

Bft TO Jen IS Mi* ILM 80 
71" TO Feb 03 IUJ1I4# JBj 
IfaTOROv Wtfa 70 847 

ft® te 93ft MW 120 9.19 

STS Eurafhna IlftWIM- lDft ft « 

IN Eurefuna » 70 Mor HI ttfl ffl» 

1 108 euraflrno 12ft TO Mor Wit 

iiu Euratana i> to Jul tun hub iu* 

9000 Euraflrno ^ .5 , 2!f or SS* ,7^ 

SS Infer JfancriBxi Dev Bk 15ft W Dec Tff -If 

1*0 tater-Amer icon Dtat Bk lift 71 Star I8A* 116* 1U2 


DevBk 13b ® Nov 'Efa 
Dev Bk U TOOK 95 1U0 ILN 11 J8 

DevBk TfaTSNov Mib 70 70 

Mf Bk Mix TO Apr 100ft 9J1 

ml 8k Ufa® Dec ® »■« 

Hit Bk UfaTOFtb fata 160 'Uf» 

ml&k HiTOMav Tift US* 90 

jntBk 1213 70 Jul 108ft UN 90110 

srt Bk UbTO Noe ft 1232 1L0 

ffaTOJua 1V» 80 9J! 

I* 46 Apr 1*4b JIN 

•htojpi n jin 

144* TO JUl I*J4 110 

Mft TO Sea M7fa ILU 

U'.WMav 105b 11.11 „ „ 

P.V3PI 94ft nun 110 70 

• lflfaWJMl 88fa 7169 1043 

15 VAua 1071} 11X1 10*5 

Ufa VOCf IWj 11.19 IW 

Ufa TOMar Mf 110 1199 

lOftTOAnr *Tu 110 . 100 

16 -BSMav TOfifa 130110 1506 

15 TOAUO 109 110 

llfa TOAuo 99fa 110 
lift TO ABP 99b ILM 
lift TO Sen 1139: IUI 
UfaTONov W4ft 9.B 
lift® Feb 99 U0 

Mft® Aar *7ft 110 

MfaWNOV HM 9JS 
lOWWDec *7 ILM 

Mb 70 Jan 96 UN 

111! TOAUO Mfa 11-91 

Ufa® Oct H»3 U64 

Ufa 7000 97 11.77 

(b 71 Fea 107 7X6 

lib 71 May OT,} 110 

Ufa TO Oct «3fa 1114 7244 

II 71 Feb «6b 12)5 1161 

fib TOMar M4fa 757 

8 TOMch TtOfa 761 

I Oft TO Apr 94 126* 110 

U TO Sec »9ft 1206 126* 

7b TO Nov 188b 70 

II TONm UBfa IUI 

12ft 74 Sep raft 7229 9144 

llfaTitfew T»ft 1114 1219 

Mb 74 Nov 107b 1815 1034 

11 74 Dec 97b 1168 11X5 

lift TO Jan 9*b 1141 110 

SUTOMav 73 RS 120 ILN 


Aril Seeartty 

SSO SceNMInK Ftaonee 
US Sears intoraattaeri 
IN Setoctte Trust 
IN 5UueflB states Fin 
SR Stouah Estates Liu 
*15 Town Citv Nectar tefl 
125 Ub Finance X/w 
SSO Ufl Ftaonee 
IN UriiM Blacttas tub) 
S2S united OotnMttaTm 

SN waUeame Faundatiea 

115 WNUreadCo 
SS 9WN Ians Ghf|* Bank 
IMB MMaasGlMiKadari 


«6ft4W llff t 
*> «A> Price Mat UeCmy 

Ufa 7* Jun Mkft IIM h, 
WkTOFee Mft MJ* S* 
lb® Aua *4ft M331UI 
S TO Feb 9] 11J5IJTO 
■b TO Feb Kb UtaiiS W 




iki*** 


oil 


BbTOFM 97b UX3 lt£ 

I TO Jan 93 MbnxiS 
(ft® Apt Mft 11® H* 


ll ® JM n uauarfS 


Ob TOOK 93 llMlIJiiS 
IfaWJua *5 IU212U M 
W: TO Apr «S’s 1178 tub iS 
8'. WJul gj UmjrS i2 
tl 73 Jun e< ntAtiS^ 


UNITED STATES AMERICA 


14 HDK 101 RJJ 
IS. TO APT 184’. 1*73 


ui 1243 iiw 

84'. 1*73 H* 


IbTOApr ft ft iS S3 ,5 / 

Ufa TO Apr |07 Hfl^iS/ \- 
,*bl7Jul * uSuit'tJ' 


IN Acana 

SUB Aebwufe Casualty 
5 W» Alaska Hsuslna Fin Co 
SR Amox inn CrexSri 
475 Amox irifl Ftaaoce 
140 Amerada Hen X.'w 

455 Americra Mrihia* O/s — 

s aeo Amerten Brandts ■> TO Dec wry 11 1* 

six American Express Cred JbTOOct Ml': iui 
575 AraerKOR EepravD'i Ufa® Apr lotfa 12& 

5 MB American FxnreuO.l "" — 

656 American Foreign 
6N American Faremn 
cariX American Hatattal 
10 American MerflcallnH 
5125 American Savinas infl 
s 103 Americra Savings mil _ 

5 xmt Americai Tetaatr Trieg 14*, WMar M4ft RJs 
*25 Amoco Oil Hridingf - - - - 


s MO AMttaanfluailnfl 

*75 ArbanaPsCe 

ISO Arizona Pi Firemen 
STS Arizona Pi Ftaonee 
SS Artnxm P* Ftaonee 
*« Arizona ft Finance 
550 Armor O/s Finance 
*0 AttrUmdOil Finance 
1« Astro 

530a Atlantic RichffttdK 
SO Attanllc Richfield 0> 
SM Avco O/s Capitol 
v 26000 Avon Gaeitol Corn 
SIS Bangor Punta Int 
iXII Bonk Of AnerkXi 
S2S0 BonkOfAmm 
**M Brauantarica 
SIN Bankere True! Ny 
460 Bern- Stearns Co 
SNO Beatrice FOnnce W/w 
4 IOO Beneficial 0«F] none 
IN BeneDdal O/s Flnanc 

130 BeneHctal Ota Financ 
SHO Benrflckat Ota Flnanc 
*N Blue Bell Inti 
sx Borne Cascade Cant 
SIOO Borden Inc 
SIM Bason in# Finance 
*20 Burlington Oit 
4N Burrouahslnn Ftaanc 
SN Campbell Soun O/s Fin 
448 Cruellro Power UgtK 
*0 Con-tar lrdl 
SN Carter Hawley Hale Os 
SIM Cbslnc 
(« Cbslnc 
SHO Qieseareugav Ponds 
5600 Chevron Capital 


rauTOAnr Mfa ua srt 
r.-TOJon Wa 98J1 
5 TOMar « list 
We® Apr M4fa llfl S£' 
llfa 75 Fib 97-. 1IJ3 H* 

12 ®Apr tflx life nr 
ir-®Mav lOOfa nu 5f 
14*. WMar H4ft RJs Si 
Sfa-BSOet *8 us f«^t 
TlfaTQJlPl *?>; life ■*,« 
131} TO Fab « 1295 

UfaTOJul M3 15X4 K 
Ufa 8* Fea 103ft KM 83 
U ® Feb tar j KC 
lib 70 Jan 96 120 in 

ISb 16 Dec 101 Ufl S 
8 V Jim 9! 1214 i*u ■ - 

Ufa TO Feb lire ku 


8 87 Jun n au 
tabTOFeb into MJ3 
UlaTOMav lHfa T2U 
11b 70 May tax fa lm 
Ufa 87 May M 110 
6b 71 Dec ft 7J3 
SfaTOJta H 90 
R 87 Apr Ml 110 


8 88 Mor 92 * j ll.U 
MbTOSea 93fa 1236 
lift® Oct TOIL. IUI 
13 ®5en 187 MR 


91*87 Jut nvt izpt 
U fa 70 May Ml llll 
Mfa TO Dec 115 119] 


R 71 Fee 9 7"» 12J1 ij 
TbTOOd 93*J lLUIU/f 
R 72 jan 98 064 «• 

ir/aWOcl 102 UN n 

Mfa WJun 1251; Up n 

Tfa 87 Apr 93 1 } 11.99 1571 T 
1A. TOMar Mfls MXt u 

14 WApr M3 IUI 3 

lfift® Feb MS 14X3 u 

I TO JMI 97 1214101 L 

9b WJul 98 life | 


ecueO CJiryter Financial Co 
SIN Cbrysler Ftaanctol Co 
5100 Culcorn O/s Finance 
5300 ClticmvO/s Finance 
*300 ancorp ore Finance 
5125 aikDCB Ota Finance 
5 MO Citicorp Ota Finance 
5 HO Citicorp O/i Finance 
SIM cillconi O/s Flnoncr 
IN Clttcern Ota Finance 
SUM Citicorp Ota Finance 
SIN Cities Service Ota 
475 Cltv Federal Savtag* 
*125 Coast Fed wit Ftaanc.. 


R TJJra Mfa Oil 

Ru®oa no 1 . 221] 


10 71 Jut 9Fi 1045 ■ 

Ufa 74 Hov 183 RJS n 

13ft TO APT HI life B 

M TO Jul 98ft ll.U w 

12 TOOa I to. 110 TL 

MNTOMOr 99ft 110 n 

Mb TO Mar *3 RXt a 

llbTBOd lift 1109 1L 

lib 73 Feb 98 IZU a 

M TOMar 96 001,018 

lib 79 Apr HOft 1)44 ii 

17 TO Sep 193 1573 K 




thond 


R>:®Dec lOOfa U0 

ir-TBiiov mi iui 


SUB Cooa-Ceta Comoonv X/w llH MNau IM 


4980 Ccco-COId C onanany 
SMO Coca-Cola Irrti Ftaanc 
SMO Cora-Coio toll Ftaanc 

SUO Coca-COka Inli Flaonc 
SUO CocaCnlo Inti Flnanc 
S10 Commumeot Sateil/t* 
SUM Conoal Irrti 

5 59 Conoco Eon 

SN CanalMaM Foods Os 
Sin Crnttacntai Group Ota 
STS Continental Creep O/S 
Sl» Continental IDinott 
SUO ConUnmrtal IllineiS 
SN Contktetal Telephone 
ISO Corn Preduel* Cpc 
SN Cornte international 
STS CrpcAer Nriloncl Beak 
5 SO Canunhas O/S Ftaonee 
SIS Cutler-Hammer 

S250 Dade Sawrgi A Loan 

5 38 Dana International 
5 85 Dari 8 Kratt Finance 
S190 Digitet EouiPiTiem aft 
SIN DmxChmnkziiOta 
5300 Dow Chemical Ota 
SN Daw Corning Ota 
SR DretoW Ota Finance 
S3M DuPontO/SCapual 
SAM Du Pool O/i Capital 
ISO DuPanlOtaCoiHUI 
sija Du Pern O/s Capitol 


Ufa Tl Oct Wife IIJI ft 
HMTOJiPI 99 MJ2 H 
12b® k»0 B»b MlI 9 £ 
11b WOd 183 ILU II 
9ft TO Aua n 110 w 
lift ts Feb V Ufl B 
Ufa 71 MOV MOV; 1111 n 
I 86 Feb ft 1OXIM0I 
7ft 71 Jan i: tij3 Tin ■ 
9ft TO Jul Wliu ll 

lift TOAuo flft Ulf H 
TbTOJul 95 aft M 
15b® Mor ■ 145 5 

rkTOFeb 97 1U91L7J 1 

IfifaTOSM 103 KB U 
lft TOMar 17 1UIU37I 
Mil 18 Apr 94 Ills „ 
151} 71 Dec Mt/> 1148 » 

a WJun 92 <214 IUD 1 

13ft® Sep Ml lip r 

I WMar 91ft iui Ufl ( 
7b 78 Nov 97 Lll 
Ufa 77 Mor MB IUI 11 

I TOOK fib life | 

9ft 74 Mar 87faUnrUIK 
8ftTOJun 96ft 11.46 1X33 I 
U'JTOOd 101 fa llfl v. 
11b V May IMft life V 

14ft TO Doc 10312 110 L 

Mft® Ain 184ft 12* t 

Ufa 75 Jan 99>x 11X7 1 


-r *: 


*60 Duke Power O/S Frame lift WAor M* 079 


5 ISO Eastman Kodak Co 
ISO Eaton Floonco 

5108 Enserdi Ftaonee 
$30 EBoO.’SFlncxice 
59 Etao Ota Finance Mar 
iso Ena Ota Finance Nov 
SUO Fed Deal flore* 

SNO Fed Home Leon Bank* 
SNO Fed Natteoi Mart AM 
5125 Firri Fed Miai lean 
5108 FiaridoFedcrSavmn 
S 100 Fluor Ftaaoce 
IMP Fora Motor Credll Co 
SIM Fora Motor Credll Co 
SMO Fort Motor Credil Co 
silk) Fora Molar credit Co 
5350 Font Ota Finance 
525 General AttrertcTrww 
525 General Cowe Ota 
530* General Electric Cred 
HIM General Electric Cred 
S2M General Electric Cred 
1380 General Eledric Cred 
S2N Generri Eledric Cred 
SMO General Electric Cred 


Ufa 75 Mar nu life 
llfa ® Jaa 101ft llfl 
lift TO May 97 021 

9 85 Sep UO U2 
■ WMar 97 11.111 


TONM 15ft lOJtn.17 


Geaeroi Electric Otal 
General Food* Co Intll 
Gerand Foods Cred Co 
General MHb Flnonccl 




ll TOF* 98ft 110 -1 

11 WOK 97ft 110 -1 

lift 71 DK tl 110 ] 

Ufa 89 Jgl 104 110 I 

12ft V May mfa 110 I 

U ® sea M4fa 120 . j 
llfa 78 Fib 97 rm ’ 
1218 7100 700b 1244 

R 75 Feb 99 1117 

life 75 Mar 95 1252 

13fe8SM09 mu 90 
IfaWJua 92 1301415. 

Ifa 87 May 93 110 IUI 

11 ft 77 Nov lOOfa 11X3 
R WOd 101b life 
Ufa 70 Feb 95 11J5 

I" 3 IS ! 


. , 4 


Ifa 71 Ana *2ft life 


GerwrmtAAtsinc 
Germal Motors A 


IS'SS’KB 

99b 


Motors Accept 
Motors Ota FI 


SMB General Motors Ota FI 
SN General Motors Ota FI 
SUM General Motors Ota Fi 
- — — Pacific Finaa 
Half 

Ota Finance 

— ...Ota France 

SMO Gmac O/l Ftaonee 
4200 GmocOta Ftaonee 
sno GmocOta Ftaonee 
IBM GmocOta Ftaonee 
1100 GmocOta Finance 

419 GmocOta Finance 

SHO Gmac Ota Finance 
4125 GmocOta Ftaonee 


R 71 Dec 99b 11SJ -i 
My 70 Feb «fa 7.11 . - 

Mg WU* 
ImwH ifcss 


Si n" 


SNO Gwac Ota Ftaonee 
5 MO Gmac O/s Ftaonee 


O/s Ftaonee ■ 
■O/I Fmoitce 

■tireRuMmr 


4180 GnnnFlnance 
4® OtaRnancs 
475 GteFtarace 
450 GteFtarace 
SSS GfeFInmce 
ecu 50 GteFlnonce 
*15 Gte International 
Sin GoaoflFTnaaee 
SMO GUI Oil France 
560 Gull 5 tana D/s Ftaon 
*60 Gulf State* Ota Ftaon 
475 Graft States UMLitlei 
SUM Golf l Western In tore 
415 Hons Ota Capitol 
I ■ 4® Hertz Capital Cup 
415 HBtao Urtematkinal 
4100 H onerw tfl Inn F*nrac 
sin Househota Furor 
4200 lom Credit Cora 
4308 I om Credll Cora 
SMO ttkn Credll Cora 
4300 ibm Credit Cara 
SMO I bm Credit d/S JC/w 
*700 ibm World Trade 
S3S Ktndusirtei 
435 Icintetrfes 

574 Iclnduttrtes 
4 100 1C Industnes W/w 
SIOO 1C InduttriesX/w 

*75 ic Industrial 
errs 50 le industries 
STS le Industrial 
40 llUnotsPower Flnanc 
SMO Illinois Power Ftaanc 
SN It— mn-Nradlnb 
5115 Infl Harvester Ota Ft 
$15 loll Iterator Ota Co 
SB inti Paper 0/1 Ftaanc 
SIS Infl Standard Electri 
525 tan Standard EJrdri 
5X5 infl Standard Etoctri 
IH Infl Stoadoni Electrt 
479 Intt Stondard Eledri 
475 Itt Antilles 
4100 lit Antilles 
5 145 lit Ftaanctol 
535 luOverTeaj 
475 JOte Hancock O/lFtaa 
SMO KenoaoComn 
SUM KeBogaComp 
5100 KomecBlt InH 
SN Kidde watte Ota 
SUM Ktalberty-Ogrt 
5N Kimberly-Clark Inil 
SB Lra Straus trrtl Fin 
4100 raev Credit Cora 
SIOO MOCV Rh O/i Ftaonee 
5 NO Manriad Haaover X/w 
SMO MOnutoct Hmwer Ota 
5 MO Manu tori Haoover Ota 
IN MomrtauHenotfwOta 
SMO MOnutoct Hanover Q/i 
*2 Meflonok ta Coraoraflra 
V25D00 Mcncnoj da C o r p oration 
SB Mcdamlds Finance Co 

575 MCdonuhto Ftaonee Co 
SN MatorneU DeuetasFta 

SMO Melton Bank 
5 MB Mellon Financial Co 
5100 MOrrifl Lrrorii Co 
SIOO Marvin Lynch Co X/w 
4300 Merrill Lynch Ota Cop 
SS MobB Inti Ftaonee 


life 

13b TO Jon 
ffaTOJul 
- TO Jul 

Mov W U4 

Ocf Ml 10 

ii'sSg 15 

i&w Sb r 

’KSSS ffl 

RfeTONte toft SS 

SStojS 


■ -« -Mi 

7 • It 


-'C 


lib 17 May 100ft 
TbWJrrt — 
HKk 73 Apr 
OfaTONeu 94 


OfaTONou 94 1Z0I 
I2L 87 Oct 181ft 1L47 
llfi 74 Dec 93ft 110 
RftWOcl — 

U 70 Apr „ ^ 

13 TOMar 99ft OH 




12ft®Mar 99b 120 
fib TO Jun ffift 11X1 1 


15b® Apr 
7b 87 Nov 
10b 70 Mor 9fi llfl 
IS 88 Dec M2fa 1177 
lib WOd Ml 1U1 
lOfeWFeb 96fa 1U0 
11 ®Dec ff ILK 
9ft WMar H KLU 
life W Aua H2b 1242 
I2fa720Ct 184 190 

* 85 Apr — — 

lb 87 Jun yj yj/ 
R 70 May 99 7» 

IfeTlJun 111 M3 


.Vmiuii Buii<len 


ran VW 

9* 


O 71 Jun « 
13ft 71 Oct Iflfa 
RftTSFeb 97 
life 78 Dec 98ft 
UftWJlPI MM 
17ft TO Apr 
Ufa 75 Dri 


1 7b 85 Aug ff* n53 

5 TOApr 9M tt» < 

12 TO Mor UMb life J 

t 8SMCP 95ft ILH Uff 


9 TOOO 90 Hfenff. 
4 17 May 93ft 93*™. 




4 87 May 93ft «fe 
lift® Jan KDb llfl 
R TOMar 99ft life 
9ft® May 92 nx 
lift TO Nov 97b 1JTO 
lift woes 100 1lfe„j :• 
BfaWJuJ *3ft 12TOI26 
13 WNav 111ft life 
MftTOJan 9711. ILU 


•—*» * 

‘-'‘-a 

•=x fafefc 
- feftNtorti i 

'■tipiyJjpr * t 


: V. Jdfe 


llfa TO Jan TOO life 
9ft TO Jun 97b life 


8ft 85 Jut 9*W 9X7 
R 74 Dec 141 life. 


Bft 86 Apr 97 life OJ 
11 70 Jut Mfa US 
lib 75 Fen 99b life 
life 71 Jan 97b I2fe 
lift TO Sen HU R0 
IM 87 May Mlft 1272 
UftWSeo 103 life ■ 
leu.® May 94 nS V 


tefaiSMay 94 ns 
10V.7BMOV 90ft 12fe 
Ufa WOd Ml life 


tftTOJon Mb 70 


9ft 73 Feb 9? 1L4* 

life 74 jan 99ft life 


17 WFeb UJ US 
U 87 Sep M3 life 


11b 75 Mar 95b T2S 
12b® Oct I02fa llfl 


ij-in / * 


17V) 74 Dec 99ft Ufl Mite 
Ufa TOAxir 93b UJl 
7 TOAuo 95 Nfe**' ‘IrJV 


(Cootinued on Page 10) 


1r "it itmi 



U\ 


Eurobonds • DM Bonds • Schuldscheine 
for dealing prices call 


" ¥• 


Wl,| Vb|, 


dOsshdob f 

RO-Box 1128. 4000 Dfisseklorfl 

bCaulmranra 1 ”* ^ Telsphone ^63122/826374, 


London 


w5S^^ffSS;- 9 "S XSB '*- «=» 6ABUK 


Luxsmboar 


lJ^Tw^447Ii"-% b ^g f 7 | rand «- D ^’““ Ctarfon*. 


Westrieutsche unaesdank, BATbwer. 36th Root i 2 
Hong Kong, Telephone 5-8420288 - Telex 75T42HX ™ rt 


Marketmakers in Deutschmark Bonds V\/6St LB 

_ V'festdeutsche Landesbank 



'-.• i Z-JAtf 


/ * - - « I 
’ • 1 




1 7 »vto > 4 itti 


:c*f“ i* 1 









IWTEBJVATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


Page 9 


5Ta teV 


, V ‘ . . 


;*,* ... ^ S\ 

I. t-Sfc ft 

ii #*£r* r 5-.««5 

•*■ » s> 5 l; 

• mi Sw-U;::’; >•<>«« •-'iV S a 

1 ’ e hW w.,.-* 

UNITtDstA, ‘*3 

jSSc.... * n > E| 

IhH Allot . ,. s . . 1 * !•.. 

J: , ">• 4i; i 

u : *5? ! 

je — i’T’r : 

VS Sr::;:::--: 

jvi • «• o'l '• . «,■£ i 

•E fir:;:*" 

' 

\T V n.:';.:".“:. • : * a. j 

*"wmi , „, 1 :i * ' ■ 

It - •»■•*?. < - i i , t . r •>■■; ■.»■ 

« 'I 

1“_ I ,r 1,1 

a-.t.viu »•, i ,,r •. 1 : 

•« f/.i ; 

*.i A-Mfmi, , . -'ji 



V&: 

J ft' ItJni .if . . w l «> 

£•»•'( •: f** 

ll» KtJi'Vr 1 ' :,.« ?!* 

til! «ir>*. y,.,, , '■ '•'» 

SBKSS 

iV iiVir-n. • r- . 

»*»> '<■■il.ii.fi ■' , 

** nuij,itir. loll ► ,. . 

IM - tiioi.nA I'mvrr i iC -|| ■ tUf, 

*2 £u ‘ O'* HU' ' Af, 

iua tV"" ?.t >" 
i*3 cm utt • ; ■;£ 

5JS ‘jnWIiWil'iM- 

« l TTV - ml L ■ It. .1- ,, •. jmf 

•“S Ml! I ■-!" : “W*.' .ol ■ .• ^ ■ *"r i 

}J2 j l,, « , tu ■•■ no,,,, i 

ja»l t-lfuiroO; r.iuiup i 4»'.f 

i wi '. , | ku,,, $ 1 f f > • 

JWB tllltVCt* •£ir U v, 

Itt (•ll.cr..,'. 1. ,n, lrWr 
*;* * ''nOTt' ■. I "vjno " ” :«■ 

• Cilm'joau'f ii i, 

*■) Cil > rMAiil'^o..i 4 . Jv* 

: i'CH: : 

Cm i caa CcnuMtit •* !■•*»!. 

*100 t o.g ^‘iiy LmuEtJjn, % 1 r* f- o* 

Jim C<m.oMimiF.,«r„ ! v" - n 

ciKutgUiniiFmanr ••* «•• 

IJCE CKii-t trio mil*- .H3HJ 
!!S J.'woCotatHiir.nanc 
JIM romoK-nnWxilriiin .... 

I "Oft i.om?i4 inn 

C-mo C uwinoiue • ' ,! > 

»» ^BOSOilOOTES Fpofl 1 , ■ f, ' rt 

1IW t-cmincnlkii uqub E '. . 

ij}5 conliinolol IliiiKnv , . 1 *■' 

I W IVUxwnial liiw,.. 

IM CgniUMnUil 3rm<«.»io ■ ‘ PJ* 

*W 1'Aiil'inlu.h. lTh. o r. " 1 

IS CtwninuininiuMimoi i'uJT 1 ' 

}« i'inr»r>kKiiM*iiiipnt if. 
tlb limiiiwmi 1 ■. i-inun.L ... 

l*i Ci>H(i M>nni a ir> c -. . ■ 

I2U baaUiMiiaji, 
iae ruvxi inm<M<ijiii9! , '..t 1 

lit LWtfcf.mn F.mi.t,, • 

lift PiVl.ilLotl«>lin,lO . 

lift HDwCrtr.iinpu; t , ‘ 

«s ih *V' <AZ 

IM M« iFO'nci ■• u . . 

I -S Uiroai C. n**-£f I: ’iiiVi* 

iM tJLiurt.-i s«^... a i ;• 

i in A.iM.<ip r.i . 

|IW llu ►'Oil I.' il UM'MI . f. ._ 

1*0 rw«i'tfWiO-c,vi 1 , I' y 
lift (miniiip imi> li :.'•. 

IM tmon* Ji-Biir . j: 

I '>00 I inciL’i i inot'i r ’ . .i v j 

IM inao ■.(.wi.r . >c 

•* 

no I »■ tl ■> I ii»ii>> .• N .. « fc Hr. 

IHi IB0 .miVrvn -c rt 

IM * Liv illj't •• 

Ift* ' Mni* C, . . t,[ v 

lit 1 1. FeU Wi> im.im • • . "i „ 

V Flur^ill (Cfl i; r’ 11;. 

lit rw I ..*»■■ r U /> rt 

I IN ♦ Ml .Ml I »>if» 

l!M ISBdMol^ • ••«.!>,> >• - ' 1 1> i 

lift I'OulMdMCrr&W.- ■ .<rp 

• 1ft l*.mil(*.>niiv.j I . v J 

ih* i «a.t »!*.«>»><• '•••■.«. 

IJ’i lOiruuu! aitw. ■■ Ti.«>.f : . j- - y 

I ft C>m«'kiii - 
IM i*-if>oi Uft'—. • r< ■■ ’ I.}- 

'ft t^-ftn:U *• I** :•.•,• 

IK i^rrviul L sncl* •• Mrs . 1 >t 

t^rum.'l 1 IHi'*-. t'f.' 
irt*wr.i' I ttf" . ; - ‘rt 

t#*..VI«M'-M*' -K 

14W11'* ».•■•> 

:«in.il I *■: r .p". " jf 

t-mrri.- * ou3- >' Ml' •. *• ■'.•> 

jjW '!■. 1 »u>i.r : » "ii 

CHfVLI, 8‘p.lt <IL- 'U f 

(Viwur W.M . T4I* '.'fir 

■jMnn ••'-v 

t'wi'ui y.*'-*' ■• •■■■ ■■ • 

■ r«*u»om r«->'ii 1 ■'•!•• ■: t -r 

t>tlif i" 1 <■ r • 

.MW ‘ 1 ■ ■ •' - r - 

.VMl. >'»« ■**••■» . . V 

■Mitii •. i «M«»r * ■ ■ 

M !■«» ■’ v' ..t.n. r ' 

M niftt 

.MO tin*!. «'• *r,iio"V« ‘ * 

IM *M» it • J' 

IB t>J»*n •■ * * “Vi** f / ' r 

MO i.irw. ■ ■,»»«'««• ■•'.■*• 

.IM WlW.'.llli.tlliir * *. «• 

3W lOttii •• l >'f» r 
»W unw> O 'A ' ‘ ! 

M CitkM»P«r t’ • 1 ; ' 

iWvdvrv ;• 

■wirtilf. • • ; . ' 

unoilAir t ••' • 

*M t.liliimtr .*. . ' 

»■'? f4?l -ittwc .■" 

IW wMf .'W** . ' . '7 

f*| >J# llltM-t . ’ 

*10 rJ* l iTni>r - • • ' 

Id (.1* i. iif»nm.in.ii .' . 

ift i^intllll ium.r I ' - . 

Ift ij'iliTJ i im-ai 

I m ui/iiMu:itfi ■ ' .• .„ 

IlC t ' 

I It loll ‘*:f< »-fi*. . .. 
i* (..inn wc'V. •..■.if • •, • ■„ 

1 1» Mum i; 1 1 jiii'i- 1 
IHI *>//• w*w t-tn* • . . . 

*»i UpIoii ii'irt i ' 1 '!'* ' ' . . - 

M Manf.iMiii •••'" 'J;'- , ' 

IM nHli'iT 

M IWlii 

MO hwmw"i"» .. ; v 

in iDiiti rteiit j-r . .. 

ft| .OoitirO.f taiL . v . 

<m - • «« - . , 

M0 IMinni* 

If* H Iiftirthifi ; 

I to b , 

>n ii IniW'l.’M* 

.an H A * . .. 

MO n.li»Hiiiiir* ' “ .■ 1 .. • 

IM 'i IMftpHwr ... -.1 

IK KUMt-PPm I, 

|l* li IrtMulriW .... 

im iinao/i nowfi ; ■■■•»" .: . . r 

im iiwhui «•*• 1 ‘■'i'” j. 

IM .iwnwl ifiidi i.’ ;: . i.i 

M\ uii:iiiii»«ititi l ' ’ 1 it it* 

111 lull iMWln * •••**’ . V- 

If* IBIliftM'l 1 ** \’J- 

ii* mu yonni'i m ■■■ . s :v .\- 

IB iimatiaHrt-it}*""' ■ -v. 

ill #*MW»|K1I» I " ■■ IV 

• ft .*•■: 

I»» imiMdii-MlAt .tv 

iM ||( Oiil.Ua: v:. 

|ft in*nliiKi ■: " 

Mi i|» | tunuil t . ^ •*' 

iM ItiPWiwn _ , . , 

IM MHuili ,. . • V 

MB MMMtil™; . 

ug h«d4can ■' ,• ■«« 

|B HrtWlfclllMf ' 

too mntwH < ■■"* .. .. •' WF 

.» Kw«r >» ■ '.■ 

.11 . 1 III!* ■•••? . '*'" 

m nta> ciwoimi 

<M .. ... .*• 

Ift ftOMfnt l ' * • ■ , 

•ft MMiftai iMtHU!** - L v.- 

|M JMUWuVOC 1 1 61 , r . •' 

,H ftwtMf* »**■»«;' j; ) . • 

IflB MdtHflK’l Hinai«/<*i 1 - . * 

■ 

u> MWt.ii.lv 1 I3r* ,,, "' p 

Ti I-- * ' 

f» OMIMIOMI i •• k " 

•at iwiw uid 

■M ftpum. ;* " * 

M (Oniiluni ' “ n--| j 


By CarlGcwiTQ have to lake during the five-year However, the rates on this fifth 
life of the credit-- was ovosub- round of tendering for Swedish 
PARIS — What little business scribed ^a»»40 percent and was Euronotes shows a continuing 
there was ux the micrnaaonal credit increased to $100 million from S8Q trend to less favorable tenns for 
market last week was well received, million initially sought The bulk of SwedoL The average price on the 
there just wasn’t very much of it. die increase was in the portion previous offering was 533 basis 
Bankets complain that there is firmly underwritten by. banks, lift- points below Libid and on thefiist 
too much liquidity, fueling compc- ed to S70 milljon from S55 million, drawing it was 13.56 basis points 

tition for new business and driving r , , .. . , bdowlihid 

borrowing charges down while at S30 SiMon^ .MsmwhUc.baoknsafflairhog- 


However, the rates on this fifth 


After Record, Where WiUDowPeak ? 1,400 Seen as Possible 


market last week was well received, 
there just wasn’t very much of iL . 

Bankets complain that there is 
too much liquidity, fueling compe- 
tition for new business and driving 
borrowing charges down while at 


SYNDICATED LOANS 


an additional S30 million (in- Meanwhile, bankers sdH are hag- 
creased from $25 million), but the ™ Beatrice Cos. on what 

banks are under no obligation to ^ S500- million loan will 


these funds. A tender panel taJce ~ Enranotes or a syndi- 


fj’J >'li 

«: i 

1 r ' ■*. , -■ 

■ ‘fi*.* 

■; V - " .j 

i 


'ril: 

: i?S <■) 

?■** * > 

■ *■ ■'C r . 

•i-t-- l: 

•if & 

; c.; ; ■; 

*■-£<, 

’ ~ V 10 ' r • 
- ^ - 

■ * • 

Ij". 
pDk tl ' 
:g»i* 

S- 

•*y- f? 

\IP S’? 

■ ■**« I 
■:}f« ^ a 
'?!>' ift. i 

? 5 

’«£; ? ? 

• wjoi :* ; 

• “a. it \ 

• r* c *i r : 
- 1* if* 5j : 

S’.'* r i 

s -o i ! 

L! 3 -: «■• 

i >ic. p ; 

• Vs a - 

i'Vj, Q 

•2?'' r r 
'0 r 
VI** li., 

• ' J 'ta r, •' 
.■/*■/» V- ■ 

* Oil fi'.. 

■ ri'j r, ^ 
. If Cm -c - 
;' iA 61 "/ 
■!-J- ».r. 

• o. 

• 3- .'r in - 
•'Vo. v r 

v «« ic i 

K* Hi*, i. - 

r:* s i 


'-■V* C.i. 

.'•■1 It!.'- 

■»*’'* «• c 

■ ' ' l> I ISF.-J 

• ./rb e f 

. .Vor K r 

• f Vi. ip - 

' i 5 '•< 

' ' <\i 13.- 

I".', 
•■•f.f 1 
■■ .. t 
■*rt a - 

■ ~n *. '* 
. .• >. .> « 

" -v 3.', 
-'.r* Ml 

'' Cr ri i 
'. fir i*. ; 
•• : * .« ; 

. -■• -V ft . 

. • .*: S '. 

• -r P 
~ \U- tw 

. ir. £J. •. 

. •/ .• r 'J 
r. . v. i 

. . i 

• f." f 

• *• -j’ n 
. 'i .'i 

•«• . c I ' 

:.• ^ .ki. 

. *>... 


dm same time the classic European wffl be for one- to three-month cer- crediL Seats. Rodtuckdt Co. 
and Asian borrowers have less need tificaies of deposit or offer terms 3140 ® *** banks about the 

for new cash than in earlier years— for bank advances, and the cost to po^ouiiy of tapping the Euronote 
due to lower domestic growth and Iceland will range from 28.75 basis n ~ ceL 
strong export earnings from the points over Ubor to 35 basis Bums ^“P C°- “ Australia is 
United Slates. points, depending on whether the sl S?, cx li£F Ie ^ ^ market for 

East Germany finally settled on CDs are sold to investors. f^^nT 011 n ° lc laobty, of which 

»-S^toL S ^£t±StS^ a cJS • ^"^.Wddinglsbecom- and half sol^on a bes?e«Sns ba- 

^in the classic credit market, an 

bepn^mVi-p^tOTerthcpnme b^h CT . The best evidence of this Italian borrower tins week is ex- 

^ tSsnV OfS ^ ^ week’s bidding by banks peexed toseek aloanof200millioQ 

wer the London Interbank Offered OT another S200 million or three- European Cunency LTniis. 

*Hr- nwnth notes from Sweden. The av- ICO, the Spanish credit agency 

The response makes it dear that erage price was set at AS2 basis currently is renegotiating terms on 
subsequent loans coming out of points below the London Inter- a loan arranged in 1979. ICO wants 
Eastern Europe will be priced bank Bid Rate. The high price was the S142 irnSian outstanding to be 

rniirn mraw n on i i *ccmolv .mi* *1 AO t 7 — . T !L!J . . • . . A . ° ■ . 


for bank advances, and the cost to P**BiQr of tapping the Euronote 
Iceland wD range from 28.75 basis tn ^ keL 

Mints over Ilhor tn K hasis Bums Philip Co. of Australia 15 


By Vartanig G. Vartan 

A'ch- York Tuna Serrke 

NEW YORK — In a hold-your-breath finish, the Dow 
Jones industrial average set a record high on Friday but 
dosed just below the elusive 1,300 mark. 

It ended at 1,29936, thanks to Friday's sprint of 1535 
points. That put the index ahead 23.52 points for the week. 
Its previous record dosing was 1297.92 on Feb. 13. 
Despite a token decline in February, the industrial average 
gained 6 percent during the fust two months of 1985. 

But the big question remains: What's ahead now? 

“My guess 15 that one day this coming week the Dow 
will close above 1,300 and then extend its run the next 
session," Jon Groverndn, had of equity trading for La- 


denburg. Thalmann & Co., said Friday. “But you rarely 
get a sustained more on the first breakout. So maybe the 
industrial average will get to 1,320, or some* hat higher, in 
March.” 

"Then I can see a sell-off down to perhaps the 1.280- 
1200 area.” be continued. “But during Apni. with large- 
cagmlizadon stocks leading the way, the Dow could bit 

Richard Eakle. chief technical analyst for Morgan Stan- 
ley & Co„ has been predicting since last June that the Dow 
will ultimately hit U80 to 1.420. On Fridav. he said this 
level could he readied by mid-I9S5. 

“1 think the market's two areas of leadership will be the 


consumer and financial sectors," Mr. Eakle said. “The 
consumer sector would include the airlines, retailers, au- 
tos, publishers and railroads. Bank and insurance stocks 
— and eventually the utilities — should do well in the 
financial area." 

Gail Dudack, a technical analyst for Pershing & Co., 
offered a different timetable. “I'm not wildly bullish now, 
although 1 think the Dow industrials could go to 1.325 
during March,” she said. 

Phil Roth, a technical analyst for E.F, Hutton & Co.. 
envisages the Daw as climbing no higher than 1.320 or 
1.330 in March — and then entering “an extensive period 
of consolidation.'' 


Rates Rise for Short-Term T-Bills 


, . half will be underwritten by banks 

md bidding is becom- and half sold on a best-efforts ba- 
otsive. bankers report, sis. 

rates drift uncertainly In the classic credit market, an 


and half sold on a best-efforts ba- By Michael Quinr Traders said Friday's 8.69-per- 

sis. York Tuna Semce cent rate for three-month Treasury 

In the classic credit market, an NEW YORK — Interest, rates bills was about the level they would 
Italian borrower this week is ex- on U.S. Treasury securities were expect if the overnight rate for 
peered to seek a loan of 200 million mixed Friday, with short-term bank, loans in the federal funds 
European Currency Units. rates rising while note and bond market were to rise to about 9 per- 

ICO, the Spanish credit agency, yields cent. Since late January, the funds 

currently is renegotiating terms on The sharp increases in short- rate has averaged about SVi per- 
a loan arranged in 1979. ICO wants term rates, which amounted to M- cent, except for the last two days, 
the $142 million outstanding to be percentage point for Treasury bills when the rate has risen to about 8 3 i 


much more aggressively. 


was 2.09 basis points below Libid, converted to a 10-year loan with due in threeand six months, were percent. 

while im Irmr nnn* one H hacic ;„,*«** ... u t :i - “-tt 


Iceland’s novel pricing formula while the low price was 8 basis interest set at K-pomi 
— tied to the cumulative amount of points below. In all, bids totaling It formerly was pavi 
paper underwriting banks actually S740 million were submitted. over Libor! 


oini over Libor, 
paying ft-poinr 


U.S. CREDIT MARKETS 


“The bill market seems to be 
anticipating a tightening by the 
Fed” that could uft the overnight 


cause higher domestic rates would 
have the undesirable effect of rais- 
ing the value of the dollar in foreign 
exchange markets. 

While she does not expect the 
Fed to make anv oven moves to 
tighten moneiarypolicy. the Klein- 

won Benson economist said, “1 
would not rule out a gradual rise in 
the funds rate 10 8>- percent to S** 
percent over the next few weeks.” 

Among the recent him* of a 
tighter monetary policy, traders 


Convertible Eurobonds Are Reborn 


en monetary policy and encourage rr'-'- — ■" ikuuuiib 1 

higher iuterestraiK. C ^I^ IU S eal -^ CU " l,CS - Bu , 1 *55 sdling securities. 

added that this is an awkward c - ^ • 

By late in the day, three-month time for the Fed to lighten" be- P“ 


(Omtimied from Page 7) 
exercise of the warrants wfl] be an- 
nounced when final terms are set. 

The prospects of a yen apprecia- 
tion against the mark were a major 
factor appealing to investors. 

The dwnka of the fixed-coupon 
sector has been an agony for the 
dealers who now have large 
amounts of capital tied of up in 
paper that cannotjrc sold except at 
very substantial losses. Last 
month’s FnmrinTlar issues were of- 
fered at terms below the then-pre- 
vailing U3. Treasury rates mid 
with the U3. market suffering 
some of its worst josses in recent 
years, finding a level at which the 
Eurobonds can be sold is like fall- 
ing into a bottomless pit 

The killing blow was twofold — 
the massive coordinated action by 
central banks to stop the dollar’s 
rise on the foreign exchange market 
and further rises in U3. interest 
rales. Putting a Bd on the exchange 
rate means that foreign holders of 
dollar securities may not be able to 
continue to reap big gains by bold- 
ing dollar assets. 

Bankers in Zurich reported that 
their cheats were beginning to take 
their foreign exchange profits on 
bond holdings to move into what 


(Engelhard 1 l%s of 1 992, offered at of 11%-perceM, sc 
99%, ended the week at 92) as signs were offered at par. 
increased that U3. interest rates But by week's end 
are destined to continue rising. five issues had been 
The only two fixed-coupon dol- 1 PP can Investment . 
lar issues were aimed at the Japa- 1100 of fight-year, 
nese domestic market. Ghubu Elec- ^tes at 9924; GMA 
trie sold $80 million of seven-year 1 1 -percent, five- 
paper bearing a coupon of 10% P 31 "- Primary badn 
percent and priced at 100%. Japan Australia, £35 millit 
Development Bank floated $50 ant, mne-year bond 
million of seven-year notes at par Trustcos £30 mflho 
bearing a coupon of 10% percent, t*®** n °£ 


of 11%-percem, seven-year notes bills were bid at 8.69 percent, up 
were offered at par. from 826 percent a day earlier, and 

But by week's end, an additional well above the 8-20-percent rate of 
five issues had been launched: Eu- Feb. 14 or the 7.72-percent rate of 
ropean Investment Bank, £50 mil- Jan. 29. 
lion of eight-year, 1 1 %-percent Although many econo mis ts said 

not* at 9954; GMAC, £40 million thatUie ftdtad iff 

of 11 -percent, five-year notes at racd ^cy ^ nol conclusive, 
par. Primary Industry Bank of traders and investors have seen 
Australia, £35 million of 1 1-%-per- enough hints to be convinced that 


evelopment Bank floated $50 cent, nine-year bonds at par; Royal (he central 
iflion of seven-year notes at par Trustcos £30 million of 11%-per- higher rates, 
aring a coupon of 10% percent, cent, five-year notes at par. and 

Tokyo bankers report that insti- S T^ S £ i?° mfflion ^5 ' 

-?whn had hSi only £60 miDion was to be issued mi. 


U.S. Consumer Rotes 

For Week End'd March 1 

Passbook Savings-. 5-50 

Tax Exempt Bands 

Bond Buvw 20-Bona Irw* . - 9.71 

Montv Mark*! Funds 

Donoonwe'B 7-Dov Avtrogt B.1! 

Bank Money Marker Accounts 
Bank Rate Monitor index — 7.91 


the central bank is encouraging Home MomwM 

hioW rnlK FMLB averaoe_ 


nT be- unia published inursdav 

31 ^ night showed that borrowings from 
i the Fed rose significatuly to S571 
les million during the twxvweek re- 

serve accounting period ended Feb. 

„ 5.50 % 27, up from S38I million in the 
previous two-week period, they 

- 9.7i % concluded that the increase in bor- 

rowings was by design and not in- 

- £12 * advertent. 

- 7.99 w When borrowings from the Fed 

rise, there is upward pressure on 
- 1167 * short-term interest rates. 


Introducing 
Sanyo Securities & 
Finance (Switzerland) S.A. 

Your Bridge to the 
Japanese Markets 


sSj'S I0 ' St/icon Valley Still Waits for Sales Revival 


foreign currency bonds — have *11 except (Coatmned from Page 7) 

^ «« « ^ - — . saJryESss X £ 

attract eenume suoDon) is now be- Two Australian dollar issues 


second quarter, or beginning of Lhe cessor to the 8088, the 80286, which 


third quarter.” 


IBM uses in its popular AT micro- 


typically regarded as one computer, has been “quite strong. 


attract genuine support) is now be- Two Australian dollar issues 
iag sold to unsuspecting retail cos- wcre launched last week. The Aus- 


creasingly sophislicated parts for °f the strongest companies in the but it doesn't carry the whole com- 
automobfles. industry, apparently has been hit pany.” 

The market grew by nearly 50 Spokesmen for Motorola Inc., 

percent last year in the United fi ■ Advanced Micro Devices. Iocl and i 


uf " “ tralian Industrial Development ^ ^ket grew by nearly 50 ^S^SSl^ for Motorola Inc 

^a"-“ssfe MUSSMta 

microprocessor chip used by Inter- ordos havlesktck*^ I 

~ ' national Buaness Madiines Coql. oid recauTm.Uis. 


T ^e Sanyo advantage is a global market- 
ing s V stem designed to address your 
' f3E~* specific investment needs. Our 
team of professionals is 

S ♦ drawn from every cor- f jaU 

ner of theglobe.^^^ - 3 

M|PI BIB When success jflHT' J 
presaeif in intematjon- 

ai investing means success in 
communication, every Sanyo mm 
office speaks your language. SS3iK& 9»**m 


McndMuS&mmer 

Pieuienf 


>e. 

r 




Srvgciu Ak>ba 
E'BCuUe Vo- Pfi-urtWTi 


Sc tSTjDB™ piawlyinwp.isslso ■— J* «*» 

coupon ™3so imSc, bet 30 ^ mcreas “ a >“■ , 

lead managers were supporting the IfnMes, guaranteed by the Bank But only about half of die 1984 
price, holding it toadiscount of 1# “ Tok yo. cany a coupon of 13% increase actually was used in pro- 


percent. 


^t^^ajur,. as the centerpiece for its entry into “ “ “ ““**■ 

But only about half of the 1984 the microcomputer business four “We have all gone through the 
increase actually was used in pro- years ago, the hugely successful PC. same phenomena” of declining or- 
duction, said Sheila Sandow, man- IBM's success spawned more ders. said Charles E. ThomiKon. 


uioj lumni cxuiiai^: >»uuu i«i r , , , . . ....... 1B ^ S spawned more ders, said Charies E Thompson, 

bond holdings to move mto what The only bright spot from Japan -k the noatmg rate note market, ager of commuiucatjons for the than 60 imitators who use the same senior vice president and director 

iSlSScb^Em^curreti- was Smm to 3K Sw^shExport Credit offered ImeW^gned miopdup, the 8088. of worW marketing for Motorola's 

des. There ws no sSndre of draw from the “unofficial" calen- SJSO^nnlhon of fivo-yrar ‘mis- Jo^ California, tn the heart of the Mr. Moore, Intel s chairman, ae- semiconductor division in Phoemx. 
selling, they said, but the move out dar set by the Ministry of Finance. “**4 ,P a P cr ^ tnch will initially northern Califorma region dubbed knowledged in an interview that Arizona. “Still, at this point we’re 
of the dbDar has definitely begun. Tokai canceled its planned $100 PH 7 ® P 00115 ^ result Sflrcon VaUqr. Re m a in i n g ship- the computer makers vying in the very pleased that our major rntao- 

This was not a view sharcdby million of seven-year bonds rather Treasury bill auction on ments were refused, roold or left m IBM-compatible market last year processor customers are people 

Geneva bankers; who said their c£ than contixnnng io force the market A E® I5 - Tb ^? a ;* ^ cou P on mventones ’ other said. . vastly overestimaied their sales. who build cars, rather than person- 
al is were sitting stilL And, con- or accepting the reality of a much ^ ** « 70ta« ow The ratio of new orders to ship- He added that demand for a sue- al computers." 


# a«OK£l«. DEALERS. UNDERWWTCRS A DOTRlflUTORS 

SANYO SECURITIES CQ, LTD. 

HMdOfflca: l-S-i. KayaOacho. NUxjnoastr. Cfiua-hu. Tokvo 103 Japan 
03-66& T233rtntam»tkMi«J BmUnn* HMdouHrt'ra: Tel 03 668-6301 T«c« 
J26528(SYS£Q 

SanyoS'eurWMaFIniiK'tBwttzMtMHQS.A: 26nie AUnen Lachenal 
Geneva. Swtzeriafld Tel. 022-359933 TeK» 42i52« (SANCH) 


muu <timv 4 uiu, wvu vi ftuw iwuuij ui in. mum .i - « i_ -n i >«■ ■ . ’ . — r 

way to all expectations, bankas in higher coupon. Bankers said they s™"™® p* ra,e - ° ul ^ ^ mems peaked^ at a record 1.66 in 


Japan reported that thdr clients hope other borrowers will exercise 
were accumulating U.S. Treasury the same good sense, 
paper during last week’s slump in Good sense was also lacking in 
New York. the Eurosteriing market. The cur- 


niijU Vl VAA1MVU. VtUl&WJ MUV LUWJ ft* J ■ ■ _ r — “ . “ — 

hope other borrowers will exercise re "™ c ^ mon ™y- December 1983, but /dl sLeaddy 

the same good sense. This is the first mismatch floater throughout 1984, to 0.64 in Decem- 

Good sense was also lacking in to be priced using T-bills as a base, ber. 
the Eurosteriing market. The cur- rather than the more usual London The January figure, at 0.66, indi- 


New York. the Eurosteriing market. The cur- rainer man me more usual London The January figure, al 0.66, indi- 

MeanwhiJe, whatever the view rency, which hi been under very interbank offered or lad rates. caies the “order rate has stabi- 
on the currency (most experts ex- heavy pressure, was viewed by con- ENL the Italian state holding lized,” Miss Sandow said “But un- 
pect the foreran exchange market tmental investors as a good candi- company, offered $200 million erf til the excess inventory gets used 
to test the ability of central banks date for appreciation. The first is- right-year notes with interest to be up, the order rate won't start mov- 
to keep a lid on the dollar), the sue, for Amcx Overseas Credit, got set at three-month Libor, with no ing higher. Our best estimate is that 

fvtnrl marl'Pl niac « /TicflffAr arM nff fn a qaaH ct flirt Ttc OH mlTlion MAmin it mAn’t Ka until iUa a*i« 1 nf •kn 


»•* *• 

» This announcement appears as a matter of record only 


.ft a band market was a disaster area off to a good start Its £30 million margin. 


it won’t be until the end of the 


West German Builders Fight to Stay in Business :j 

( Confirm ed from Page 7) pared with the 2*to 3 billion DM “The setback to industry orders has have Hmiipd liquidity and cannot % 



* 2 center-right government’s opposi- estimated for the currrai year. come sooner than exp 
don to a broad-based rescue padc- Without steady demand abroad, boost from the pub] 
IN age like that begun in 1982, which Bonn will need to assess carefully rapidly dissipated, 
t. - involved subsidized mortgage rales the stagnant domestic situation, IFO forecasts a 2-' 
£ i for home builders and tax benefits analysts say. The number of ap- in construction spend 


expected,' 
public ha 


m," as the afford to pay the huge “social.]*# 
hand has costs" involved in laying off work- 
ers when making necessary capad- 
cent drop ty cuts. The result: increasing num- 
ihis year, k® 5 01 bankruptcy filings in place 
in 1984 to of temporary plant closures, 
ae in the Unemployment among con- 


for companies expanding thrir pro- 
duction facilities. 


roved home-building projects 


proven no 
draped to 


336,000 units in 1984 210 bmibn 


ereentrisein 1984 to 
M. Volume in the 


THE REPUBLIC OF GABON 

i 

USD 60,000,000 


£/' Particularly troubling to Bonn from 420,000 a year earlier, al- home-conslruction sector could fall struction workers will cextainlybe 
' and the industry is that a robust though the 1983 figure was inflated at a rate more than double that for higher this year than last, IrO's 

; overseas market, chiefly among by the government’s special subsi- the industry overall. Mr. Mr. Russig said, but be gave no 

-£ : “ OPEC members, for West German dy program. Mr. Schneider’s office Schneider’s office is hoping that a figures. 

■r : aastruction companies has shriv- predicts the number will fall this 4- to 5- percent rise in public out- Mr. Schneider, the minister, sees 

-’r ded and that newcomers fnsn year to between 300,000 and lays for construction will com pot- unemployment falling below the 


TERM LOAN 


Lead-managed by 


% } South Korea, China and Southeast 320,000 homes. sate for the expected drop in pri- current 200.000 figure by year-end* 

j!; Asia are making competition with- “The effect of the federal govern- vale-sector spending on building 1° 1983, unemployment in the con- 
. in those shri nking overseas markets malt’s special construction pro- leaving overall volume flaL struction sector stood at 120.000. 

f, : all the more fierce. gram over the past two and a naif If trends continue. Mr. Herion Mr. Schneider also asserts that 

e : Five years ago. West German years has been far worse than antic- said, a major shakeout of middle- wages under union contracts — m- 
ir' - contractors receded 18 billion DM ipaied," said Volker Rnssig, an in- size construction companies could eluding social costs —have risen to 
l ' of oniere annually from OPEC dustry analyst at a Munich eco- ensue. These companies are typi- 45 to 55 DM an hour and have 
'v : member states in the Middle East, nomic research institute, Institut cally boxed into low-growth re- made labor “simply loo expensive” 
Mr. Schneider points emt, com- Ffir Wirtschaftsforschnng, or IFO. gions in northern Wesr Germany, for the construction industry 

Japan Warns Detroit Awaits Tokyo ’s Action on Car Exports 

'■ 'l pnft Fvri/\i»txi'PQ By John Holusha that there will not be the kind of have the option of increasing sales 

£ < VxU. JuAliUlTCl 5 New York runs Service free-for-all that some people have by lowering prices. They have not 

• R DETROIT For all that Amer- been Dredictintt.” done that in recent venre heranc? nT 

ican automakers have done to re- 


BANQUE NATIONALE DE PARIS 


CITICORP CAPITAL MARKETS GROUP 


Managed by 


BANKERS TRUST INTERNATIONAL LIMITED 
BANQUE PARIBAS 

CHASE MANHATTAN CAPITAL MARKETS GROUP 
FIRST CHICAGO LIMITED 
ORION ROYAL BANK LIMITED 


BIAO-AFRIBANK 
BARCLAYS BANK PLC 
CREDIT AGRICOLE 
LLOYDS BANK INTERNATIONAL LIMITED 
STANDARD CHARTERED BANK 


(Continued from Page 7) 


that there will not be the kind of have the option of increasing sales 
free-for-all that some people have by lowering prices. They have not 


Co-managed by 


been predicting.' 


done that in recent years because of 



Nakasone promised Mr. Reagan in make th/rir industry, almost no one 
Los Angeles on Jan. 2. doubts that with the lifting of quo- 

Takashi Ishihara, president of tas on imports, Japan’s car compa- 
Nissan Motor Co. and chairman of nies have it in their power to greatly 
I the Japan Automobile Manufac- increase their sales and dial De- 


Mahy in the auto industry expect the restraints. j 

the Japanere Ministry of Many industry analysis expect j 

uonalTrade aodtadimry, which Uie sirangr^ import pmsunstD 


Miami program w 

• Schuldsche'^^l 


jscall 


i tbe Japan Automobile Manufac- increase their sales and deal De- 
nuers Assoaation, said in January — ■■ ■ ■ 

that exports would increase by “10 NEWS ANALYSIS 

to 15 percent at most" if the re* — : 

straint p rog ram was ended- troit a new body blow. Whether 

j- Bnt W illiam E Brock, the U5. they will in fact do so will most 
hade representative, later predict- likriy be determined over the next 
cd a 405-percent increase, or about few weeks by the Japanese govexn- 
750,000 units, to 2.6 million units menL 

annually. The U~S. companies, shielded for 


has been supervising the so-called 

voluntary restraints for the last ^ companies, lagg^be- 
four yean, to ay ix> praade over an hind T^&ta Motor Co. Nissan 
orderly growth of car exports to Motor Co. and Honda Motor Ca 
this country. in establishing sales networks in 

The agency’s motivation, they the United States. 


fie*. PO Box HC 

SSphoooS^ 31 


tiwirtfl' f L ' K 


m 

« rt.’ HOICOUrt RO.i‘1. 

2HX 

*\AfestLB 

sche LandesW 11 ' 


treat a new body blow. Whether say, is u> promote the Japanese ^ comnames. includine 

ggsa 

few weeks by the Japanese govern- — 

The UA companies, shielded for Mr. Heinbach Sated that ^ Sl^’SriSdbv^te^ 
four years from the full 1 force of ^panese car shipments to the 
Japanese competition, have pul Umted State wodd increase <wily historirai sales Sns 
themselves through the most ora- by about 200,000 or so units this 

made overhaul in the industry's year, to a total of 11 million cars. _ Since most of the cars made by 
history. They have slashed costs. But others, evidently doubting the smaller Japanese companies are 
radically redesigned their produc- the agency’s ability or inclination and lower priced, the greatest 


CREDIT rNDUSTRIEL ET COMMERCIAL DE PARIS 
L'EUROPEENNE DE BANQUE 


BANQUE NATIONALE DE PARIS 
BANKERS TRUST COMPANY 
BANQUE PARIBAS 

THE CHASE MANHATTAN BANK, NjL 
THE FIRST NATIONAL BANK OF CHICAGO 
THE ROYAL BANK OF CANADA CROUP 
CREDIT INDUSTRIE!. 6T COMMERCIAL DE PARIS 
L'EUROPEENNE DE BANQUE 
BANQUE LOUIS-DREYFUS 


Provided by 


B. Smith, the GM chair- history. They have slashed costs, 
roan, has said that GM wanted to radically redesigned their produc- 
import 200,000 care a year from lion methods, and brought out new 


Agents 


huzu, m which it holds a 34-per- lines of attractive; fuel-efficient 
wn share, for sale as Chevrolet cars. ... 

Spectiums, and 100,000 cars from Yet they have been unable to 
Sazuld, in which its owns a 53- match Japan’s lower costs — 
percent interest, for saleasChevro- thanks in good part to the strong 
let Sprints. dollar — or shake Japan’s reputa- 

Mr. Miller told the House sub- tion for higher-quality cars, 
committee that Chrysler intended “All attention now shifts to To- 
!p ask Mitsubishi tosupply it with kyo.” said Harvey Heinbach, an 
287,500 cars a year. auto industry analyst with Merrill 

These potential new exports by Lynch & Co. and one of many who 
three Japanese firms to GM expect the Japanese to temper their 
?nd Chrysler alone add up to an blow. “We believe the Japanese 

I ncrease of 433,000 units, or 23.4 govemmem win exen some control 
Percent above the present quotas, over exports to this country and 


to control Japan's fractious auto financia l pressure is likely to be felt 
companies, have predicted much by the companies whose focus is on 
higher levels of imports — in- lhe lower end of the auto market, 
creases of between 400,000 and 1 'notably Volkswagen of America 
railKnn units a vftan an d American Motors Corn.. 


CITICORP INTERNATIONAL BANK LIMITED 
(USD TRANCHE) 


CREDIT LYONNAIS 

THE INDUSTRIAL BANK OF JAPAN. 
LIMITED. PARIS BRANCH 


CITIBANK N.A. 
BIAO-AFRIBANK 
BARCLAYS BANK PLC 
CREDIT AGRICOLE 
LLOYDS BANK INTERNATIONAL LIMITED 
STANDARD CHARTERED BANK 
CREDIT LYONNAIS 

THE INDUSTRIAL BANK OF JAPAN. 
LIMITED, PARIS BRANCH 


BANQUE NATIONALE DE PARIS 
(ECU TRANCHE) 


milli on uttils a year. an 7 American Motors Corp-« 

There is little doubt that Japa- “h^h is 46-percent owned by the 
nese auto compani es have the abui- French automaker Renault. 

ty to increase their sales in the — 

United States because of the repu- «. m n , , 

ration for economy and quality Warns On Palent Law 

they that have established over the feuwn 

last decade. BEIJING — Chinese courts are 

In addition , because they can under orders io deal severely with 
produce a small car for $1,500 to violations oT China’s first patent 
$2,000 less than US. manufactur- law, which takes effect April I, the 
ers, the Japanese automakers also Xinhua news agency said Saturday. 


Financial advisors to the borrower 


KUHN LOEB LEHMAN BROTHERS INTERNATIONAL, INC. MA1SON LAZARD ET COMPaGNIE S.G. WARBURG & CO LTD 2* 

$ 

February 14, 1955 ^ 

•• 

* # 

• ••*%S\V.V,V,V,V.V.%V#V.V.V.V.V. , .V#V* , . , 9 , 9V.V.V. , .'.V.V,V* ; 




t 


i%V.VAW*V.V9%%%%%SV«V.V9SSWi%W«%S , i %V.SV.VMV*%V^' 




Page 10 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


* iliV, 


1 Vil 


•;**n** 


International Bond Prices - Week of Feb. 28 

Provided by Credit Suisse First Boston Securities, London, TeLi 01-623-1277 

Rrim mxy my according to market eonAtioH and other factor*. 


UB 7 M 70 751 
7 M 73* 731 
ur. 800 75* US 
W'i tv tv 71 3 
m 7M in u* 




1 

in 

IS 


*ia 

I 

5U0 

sin 

SI J0 


S 130 

I 

1 JU 

IMS 


125 

2 

site 

SU 


5 IDO 

2 

f 125 
Stt 

2 

sin 

120 

2 

S12S 

2 

I too 
*30 


iai 

3 

SIOD 

S 175 

3 

ISO 

4150 


SISB 


5 ISO 


sin 

3 

SHB 

1V80 


IW 


, sin 

3* 

* S 125 


ISO 


' 1SB 

3 

- SB 


ITS 


SIS 

4 

ISO 

140 

4 

SU 


sin 


*75 

4- 

130 

S3S 

4J 

1 150 

4’ 

*25300 

S2S 



Mi 

IS* 1? Dec 

18291 


103 

121*19 Apr 

Wi 

12*19 Dd 

1D1 

U’iTJFrt 

06* 


97* 

lPAWDoc 

9B* 

U IS Apr 

no* 

IS* 1* Jot 
lit, 12 Feb 


97 

IK.T5K7 

01 

rcwaoet 

IM 

17 9*8*0 

187 


IBS. 

P-.T7MC1 


1713 91 Oct 
IT., -91 Fib 
IQ IS Jon 

H6ft 

TO 

99ft 

H31S 

14* *0 Mar 



171* *87 Jill 


nwvDci 

105ft 








tOSft 



n tioci 

ID 






*0 

1SV»Jol 

ur. 

*HT7Jt6 

9H3 



12 * Tt Oct 

UZft 

12 * 14 May 


UiKAlo* HOft 



1 *87 Mav 

93 



74 T»N»» 

9831, 

M* V May 

TO 



D*i7ad 

U3 




96 

in, T9 Dec 

90* 



lTikTSJan 

f*ft 



12V 99 Od 

102 ft 

4U»Fab 

77ft 

lift V Jut 


11 TO Ad 



IM 




99 

lift T3 Jun 

94 



9ft14J»< 

97 

n*M 

94ft 

IBM 


HI 


99 

lmTIFril 


KUT1AU9 

ll*T30d 

9«* 

IBM 

98 

11 * 18 Dec 

99 

nnvjan 
U TIMor 

94ft 

fl 



n*T?Feb 

17 



14* vjm 

mu 

is If May 

M4 



lift TO NOV 

98 

14*19 Sen 

105 

WJft 

IS.- 19 Apr 

ran, 

II if 5 cp 

105 

I1K17NOV 

UXTv 

SftVAuO 

94 



m,VJBn 

93 

6 * TJ Jan 

96 



16 WJiw 

104 

It 92 Nov 

77 

9 17 war 

93ft 



7* VMav 

92 



7* 97 NOV 

91 

7 WOd 

187 

124. 87 SfP 

in 

137, 19AOB 

W, 

9* TO Mar 

91ft 

ms TO NOV 

W* 

SkVOK 


IS* W Jan 

T 

731VOC1 

91 

0 *TB Jan 

95 



7 VS* 

94ft 

p,n Dec 
5* 17 APT 

114 

6 ’. SI CMC 

104* 


9 ■S50d 

■ 1*«W 

7)417 Jon 

7 14 Dec 
KKOO 
IHVOd 
iravNw 
HKVMOV 
7Vj 17 Fell 
iwwsan 
HHHOd 
urn jen 
I IU 12 Jan 

■ 17 Mar 
I2ft»0d 
am* Mar 
nmtoH 
Bis TO Feb 
WkYlSCB 
H* 71 Dec 
15 VSep 
IS 77 Mar 
roTOMay 
IK IQ Nay 


9m f m 9X9 
17 HJOWf 

u iiji an 

174 7/3 
96 11 JD 054 

102 njiiut 

«m ius 

lOVk U28 
94 11.11 12H 

ID 

tom 

95ft 


TrTrrTTPTrrm 


F* Hft 

Nov 13T4 
Frt 99* 
FSO «* 
Not 191* 
Feb » 
Jon HSK 
to IF- 
sea os 
Sen W'< 
jm HW> 
Nov 9f- 

NOV 7Ji* 

Mm w* 
Dae W 
Dec m 
Dec II 
Mar 90s 


741 7 A 

7X2 7 M 

in in 

in *.ii 

S3* iil 7* 
7*4 7S8 

m u* 

844 AM 

** 6 ja 

7Jt Tjt 

7 JQ 731 

m us 

in *2 

7J7 712 IV 
2*4 UO 

211 iv 

454 <M 

751 714 




- i 1 




w » TM 
WO . UB 
Ml Ml 
191* IS 
Wl u> 

Wj. 731 
HI 7* 
57: 8X2 
571-1 kS 
W> 745 
102 7JI 
188* 771 
57 471 

yn. 7ji 
51 751 

511. 7J5 
183*., 75* 
less. 7M 
UK 733 
JBl'j LU 
KTr 75B 
55 457 

UO 713 
TOft 737 
55M Ul 
M'4 751 
n us 




K’M. i 

t~*r 


us 

IUB 1*35 

1111 11*5 

MUZ 1111 55* 
11X2 ai* 9JS 

an ns 
?S 450 
ILM IIS *11 
12*1 11X4 

US 1U4 
Bid 


7 VFab 
»y.T7oa 
4 ns«o 
SftVNav 
Uh 10 Mar 
5411 Feb 
9*T1 Dec 
74 12 NOV 

UklUan 
tv, ye hum 
MVNM 
7414 Jon 
44 17 Jlrf 
7* TO Mar 
75k 12 Apr 
4* VJUl 
MSMv 

*K-£?Ado 


44 -as 
7414 
1ft 87 
7*V 
54 50 Nov 
7 13 Feb 
4412 Jun 
14120a 
■ mat 
7*14 Mar 
11 IflOd 
94 Ik Da 
I 17 Ms 
* VMw 
8**81 No* 
iftWDee 
K19S» 
74120a 
7*11 Feb 
WikTl MtN 
54 12 Apr 
8GT2JM 

7 17 Fib 
CVVMar 

8 DM 
4 V Dec 
MVM 
H»H 
44* 

44 n 
5ft T3, 
5*141 
5*11! 
8W15 
■** 
4419. 


7*4 8X5 

7X5 7X1 

7X4 757 

U7 911 

IS US 

752 U7 

414 553 UO 
7ta 731 UB 
7 M 735 

451 7 35 4.14 

as Bi4 

ui 5 M 

7X7 85* 4S 

4.97 7X7 4*3 

455 731 409 
7 JO 814 

BJ8 812 851 
IS 132 UB 
8.14 717 842 
731 7*0 457 


FBftliDoc 
KVSv 
7 vjtn 
IftHJul 
BKYIS* 
8WHDK 
M 12 MOV 
a 140a 
7*11 Feb 
LY 


8*17 
7GT1 
3*18 
T*12 
K1 
11417 
7*V 
7*10 
7*11 Jot 
S* IS Apr 
5k1W 
TftWMov 
7* 14 Fib 
KiliJuJ 
HiVAtav 
4* 17 Jun 
7*WOd 
8 TOJat 
7 lUan 
7* 10 Apr 
■ SAUO 
7* 17 Dae 
MVAPT 
3*11 Apr 
IWWDac 
7ft 11 Apr 
3* 10 Jen 
It 10 Jan 
SftVF eb 

sum 

7*10 
I II 
414 IS. 


Wl 


Ut 

7X9 


9.H 

731 

137 

7.14 

7 M 


821 

MS 


US 

759 


L15 

7X3 


LM 

7.99 


ue 

830 


7X0 

735 


80S 

7.04 

7X8 

829 

7XS 

Ml 

7X8 

7 a 


.852 

7X4 


7X4 

7X9 


8X5 

184 


829 

7.T2 


7X1 

IJI 


296 

734 


7X1 

8X9 


8J8 

737 


799 

137 


799 

7X4 


7X2 

756 


7X1 

LH 


men 

*58 


4X5 

7X1 

7X6 

733 

8X7 

8X7 

7X9 

7J2 


5J5 

*71 

871 

87S 

7.10 


85S 

7JM 


7.11 

7X3 


7X8 

753 


734 

7X1 

7X2 

7XS 

7X8 


7X6 

7X1 


7X6 

in 


365 

437 


UB 

144 


120 

7X9 


7XT 

171 


Ul 

4X2 


Ut 

471 


5X3 

173 


854 

437 


593 

7X1 

7XS 

7J3 

7X3 


7X2 

833 


850 

7.19 

*95 

792 


IS Apr 


SOUTH AFRICA 
8* 15 NOV 
7* 14 Nov 
7 17 Nov 
r-7ll0ec 
7S.UD4C 
SKIS Apr 
I 14 Mar 
4’i 17S4P 
5*17 NOV 
7 IBMav 
IljTQ Aar 
mm Jan 
t UA or 

r* 12 s«p 

7* 14 Jim 
; 17 Apr 

7 VMar 
5 *88 NUT 
r?«Nov 

8 14 See 
» 14 Oct 
8* 17 San 

9 moa 


7* 18 Jan 
7*13 Nov 

SOUTH AMERICA 


in **i 

57* 757 
1B0-* 487 

in in 

94 IS U7 
MV. S54 
IM'h III 
91* 490 
1ET, 712 
95 1 . 734 
HI 831 
104* 133 
ltt 7S 
in is 
rar, 73i 
98* 7*4 
IBS 757 
IB2>* 8J1 
HD* Ul 
IP* Ul . 
M2ft 753 
57 7J8 i 

IS" ts 

55* 7*4 
53* 838 








1* Apr 

125* 

*8* 


804 

TIAaa 

tv 

731 


841 

TJJan 

98ft 

IB 


769 

■91 Doc 

181* 

79* 


Lll 

VOd 

10113 

lit 

7X4 

860 

11 May 

lift 

7J4 


7X5 

TO OO 

11* 

735 


7V 

17 Jan 

18* 

7X5 

7X8 

884 

i 1 91 May 

99ft 

1/5 


761 

T4 0d 

98* 

TM 


7X2 

Vjul 

run, 

IB 

Ul 

844 

S7 Jut 

w 

593 *99 

7JB 

19 Aar 

M2K 

83 

SX9 

481 

T2S*P 

95ft 

871 

7X4 

421 

■93 Jun 

97ft 

7,15 

761 

492 

VNav 

W* 


ia 

877 

1*Auo 

TO 

794 

797 

LB8 

VNav 

H8ft 

*92 

4X9 

6J7 




■Bn UO Arab 
am to lien 
«t20 IndA 
*0103 
dm iso 
dm 150 
dm 130 
dm HO 




American Exchange Options 

For the Week Ending March 1, 1965 


Option & price Calls 


Puls I Option Spnca Calls Puts 


Option & price Calls puts 


5ft 

l-ti 

514 

1ft 

1 

r 

4* 

II* 

1ft 

ift 

ft 

r 

r 

r 

MX 

ft 

U 

r 



Pfi Mor 17 17 

54 * n t:n 



10* 1-14 * 

SVk 4* 5-14 I 

2 3 Vi 23-14 3* 

H 1* 5* 5* 


V 7-H 

X 13ft 
35 8* 

V 4ft 

45 2 

40 8ft 
65 Oft 
SO 113-14 
IS ft 

•8 

ft 

45 

r 

V 

3ft 

B 

ft 

X 

2ft 

75 

9-1* 

X 

5ft 

35 

3ft 

a 

ft 

10 

Sft 

IS 

Ift 

V 

ft 

25 

Ift 

30 

3* 

35 

i: 

40 

ft 

X 

n* 

15 

7ft 

20 

3ft 

25 

ft 

70 

4ft 

IS 

1ft 

» 

1M4 

IS 

ft 

20 

5-14 

V 

4ft 

ZJ 

Jft 

V 

ft 

X 

r 

25 

6 

X 

Ift 

35 

15-141 


35 

4ft 

40 

r 

45 

7-1* 

25 

Ift 

30 

11-14 

l«ft 

U-U 

20 

Jft 

25 

ft 

■ 111-14 

25 

ft 

23 

1ft 

X 

ft 

■ 

(ft 

25 

Jft 

30 

15-14 

U 2 1-14 

15 

ft 

■ 

M4 

K 

r 

15 

1* 

■ 

1* 

31 

ft 

25 

Ift 

X 

r 

45 

<ft 

V 

1ft 

55 

ft 

35 

u 

40 

lift 

45 

5* 

50 

2ft 

55 

ft 

V 

3-74 

40 

r 

45 

3ft 

50 

ft 

■ 

r 

23 25-14 

» 

7-14 

SO 

4ft 

S5 

1ft 

68 

ft 

SO 

9ft 

35 

Sft 

68 

3 

45 

9-74 

35 

Ift 

V 

Ift 

25 

Ift 

■ 

9-U 

45 

1ST, 

SO 

10* 

■ 

7 

40 

Ift 

45 

2ft 

15 

Sft 

X 

Ift 

45 

ft 

X 

4ft 

35 

2ft 

40 

ft 

45 

ft 

■ 

Ift 

25 

13-14 

30 

ft 


dm 2S0 Near 
am too nm: 
dm no No*: 
am 200 nm: 
dm IV New' 
dm IV New. 
dsn 200 New. 
Om» Now 
dm in Now 
daizn New 
dm 250 New 
am 250 New 


dm SI 
am 75 

am so 

am 50 
dm 50 Den 
Onus Dan 


9 VMM 

714 14 Fib 
Hi IS Jan 
TftVAua 


S’* 14 Mo- 
rn 14 May 
7* 11 Nov 
fft 17 Jos 
7 17 Fab 
fftVJul 
7* 17 Sop 
7*18 Jul 
8* V Oct 
5* If Dec 
7* II Apr 
7*HOd 


7JS TM 
4X7 XJS 7X6 
9X4 1US IB 
£39 4X1 

433 735 443 

73t 734 851 

IJS 448 

75S 737 719 


837 215 878 
754 7X0 

737 732 8X8 
731 73* 735 
LU US 802 
7.19 435 

331 3X4 

7xi im 

731 711 

61S LN 453 
4JQ LSi 478 


MS » Nov 
7*l9Mav 
l*-toOa 
7* 17 Jan 

I X7XOO 

4*i7oa 

AHJw 
4 is Mar 
4* 10 Nov 
5*10 Nov 
7*14 Mar 
4* 16 Mar 
8K WAor 
7 17 Nov 
1*16 Dec 
6*16 AM 
7 17 Feb 
7 17 SOP 
4* 16 May 
8* 18 Jm 

7 * Ocl 

8 1900 


6 VMn 
IM WAUB 
TTiVFeb 
1 1600 
6*1700 
I* 16 Feb 
1 17 Jan 
71k 11 Jan 
1*1) Mar 
I 12 Mov 


7*16 Jim 
t 17 Nov 
8 11 Apr 

7 15APT 
5* VMav 
7*19 Ana 
18* 19 0a 
18 10 May 
8* 10 Nov 
7*11 Mar 

0 n Apr 

51* 12 Apr 
5t*72Aug 
114 12 Nov 
■97 13 Nov 
7* 14 Apr 

8 14 Sep 
4b 17 Nov 
MkVMOV 

SUV 

M&V 
7*V 
7W19 
0 V. 

r-s 1 
rs 

1*129101 
7* 13 Feb 
8* 13 Ad 
814 13 Nov 
S*HFab 
7* 14 Doc 
8* 19 Aar 
7*14 May 
7*1600 
5* V Jon 
4*17 Jul 

7 18 Jen 
MdVAPr 
» VNav 
7*VNov 
9* V Doc 
7* 90 Jan 
S* TO Apr 

8 VAua 
8 II Mar 
7 H Apr 
7* 12 Sap 
7* 93 Jon 
nvHJao 


54* 

57* 

UO* 852 
94* 932 
91* Uf 
ns* 8X1 
NZ* 132 
93* 1X4 
51* Ul 
ID* 823 
50* 855 
MW 835 
W* 8X2 
5M 8X5 
OT1 815 
91*- 737 
57* 880 
IV 457 
Hb 833 
55* 854 
94* 833 
97* 813 


7.17 *90 

714 M3 

471 444 739 
436 £54 7 JO 
7JS 733 4V 
US SM 819 
435 £77 715 
831 «2 

758 US 


710 715 

733 756 

7J5 756 

471 750 

758 ifi 
751 M2 
ta 9X4 
437 935 

736 833 

7.16 7J3 

8X7 935 

806 811 
715 L64 

757 !□ 

804 137 

IV 7X7 

803 882 

739 787 4X1 
804 *31 
738 75< 
7X1 7.51 

49S 739 4J9 
7X0 7JB 754 
78 LU 
8X9 822 
LM 853 
848 804 
UB 7M 
755 
751 
7X1 

758 
L16 


M 


MAf- 


SR AnaAb 
Sg A8zs25XI 

|l 

5*S 

530 

155 
SIV 

’il 

525 

1 
SIV 

15 


( 

Chicago Exchans 

et C 

Nil 

ions 

c o r 

For die Week Ending March 1, 1985 



OMtan L aria Calls 


Mar Jim 

*Wl SO 
Ml 55 
Ml Ml 
ABaow 10 
II . 15 

BraWr 53 
6a* 55 

to* 40 
Bruni a 


Crum <o 
•:ti n 
OKpnin 20 
!l’5 5 

OlrrvSr 25 

33*6 30 

S3* 25 

ON 60 

CompSc 15 
'i«v 23 
3>Cw Ch 33 
3* 35 

FBjm tC 

It* 45 

48* ^ 

Fend 4J 

iFi 65 

45* » 

65- v 55 
Cm Cl 53 
in I 55 
0«. U 
Ml 11 

*4. 70 

6*6 45 

»!k 70 

75-. 75 

n 

Wk V 

C- 44 >0 

79 - » 75 

"Ik V 

1-fc IS 

IVl «0 

Cl* Wn » 

33 - 30 

73 35 
nujtiti i, 
IS'. 20 

i T J 3 

S'l 30 

20b 35 

* mart X 

J4H 35 

!M 40 

|4>J 65 


71-1 7J 

TO'! H 
IS'* V 
Lae«* i» 
ia UO 
13* 160 

WPrvN 10 I 

i:* is 
»4 don a 

411 40 

4M 45 
«Oao53>4 Hi 
Mid SU IP 4* 4L5 


Puti i Option L orlca Can. PuH 


54K 55 *74211-16 

54W 40 1-14 * 


16* 25 r 

R C A X lOb 


r 1* J 60* B 

. r 7-14 I 40* 4t 

1* | 60* 69 

RolPur X 
t> 35 

JO 40 


JH 47, 
I 7-149 15-14 
* 17-14 


3* 60 5-14 I* 

Ravkm IS 4 4* 

34 X 11-14 31-14 

14 60 lb 5-14 

34 65 1-14 • 

Roun *5 r r 

78 r r 

Soon X 4* X* 

» 8 Ik 2h 

34 60 1.14 v, 

SwAIr 20 5* r 

75* 24 * 2i6 

Svitta. 45 13 r 


Tattra 40 5* 7* 

45* 49 I* 4* 

45* » 3-14 r 

Toy* a 34* X r 

30* X 1* r 

38* 33* * r 

Tov* 25 5* 4* 

30* 30 I* }* 

30* IS r * 

Viacom X r m, 

61* S Hi * 

41* 60 1* 14, 

41* *9 il* 

waiMrt 35 r r 

45* 4» 5* r* 

45* 45 Ilk x 

65* X 3-14 I* 

Apr Ml APT Ml 

**cao 8 14 4 

37* 60 7k 1* 

ATAT lj 4* r 

!l* » 1 15-14 Hk 

71* 23 1-14 8-18 

kn R 40 r | 

47V, 65 3* 4'1 

47V7 SO 13-14 1* 

471, V V r 

luan 30 2* 3 

77* 28 U 5.14 

WnMm IS 4* 6V, 

1*1 V 5-1* 11-16 

T9* 28 r 3-14 


r Ml 
1-16 * 
r 3-14 


M6 * 
7-14 IV, 


1-18 * 
n-U t* 


96V* IS |-i 4 J-14 

U» 25 5‘.j *U 

W* » I ZN 

»* K k 5-16 
ncro 60 5* r 

65* 45 74. j., 

6S* U >. I’_ 

No»T« 35 7* 4V. 

J7* 48 Hi n. 

37*» <S r 7-14 

N" ind 45 r r 

M-: U 


T9* 28 r 3-14 

*0» s IJ 3* 4V, 

185. 30 7-14 ilk 


»'-• 65 Iff* ||* 

a* 88 4'A 7* 

SSVi 85 2* 4 


V* 30 I -In * 

I CIGNA 40 t Iff* 

30* 45 8* r 

SO* SO I'a J* 

> 5 CfflcP 38 7* 8 

r r ,2* « j* 6* 

I I-T4 r *30 AS 13-14 I* 

f . 47* 30 r * 

* 1 1- 14 Cullfn 271, 4* r 

» r 31 B r 7* 

* r 11 X 7* 3* 

r 3 3i IS * 2* 

/ r emio M U n 1 ., 

u r 41* 60 I m 

r-e 42* <3 3* £ 

r , 62* SO I* I* 

Em Ad 49 


1-14 * 

18-1* It. 


1-16 r 
I* 2* 


* 2 * 
U IT, 
8 81, 
3* 8 

I* 2* 

6 7* 


70 27-14 6* 


9-14 I* 
3* r 


3-1* * 

1* 21-74 


1-14 r 

* 1 * 

3S, r 

* I 

Ifk 15-14 


6*ft 


49ft 

•0 

.(tore 

25 

38ft 

X 

inuotli 

X 


35 



«U 


48ft 

50 

=«aE« 


3a 


35 


» 

45 

new 

20 

V 


"Aior 

IS 

loft 


6 Wtt 

s 

24 

■ 

oOdn 

35 

31ft 

■ 

It* 


Uoeni 


amiJfc 

a 



23ft 


B M 


USft 

TO 

USft 

IV 

WSft 

IV 

13*ft 

MO 

I Mbi 

a 

63ft 


pop 

SB 

it* 


51* 


*m J 


V 


60 


X 

4J 

irr M 

75 

31ft 


31ft 


tnp 

38 

32* 


3296 

V 

erek 

B 

TO 

85 

100 

90 

in 

95 

in 

in 

in 

IIS 

TO 

110 

M M 

TS 

14 

V 

M 

851 

t* 

90 

6RMa 

60 

44ft 

<s 

44ft 

a 

W A 

60 

<4V 

45 

46ft 

» 

iftc« 

a 

<* 


10* 

40 

B* 

45 

nn. 

40 

lift 

45 

BVj 

50 

ml 

43 

Hft 

a 

tar 

20 

27* 

27ft 

vrrv 

25 

X 

» 

a 

68 

a 

45 


a 


£5 

TO 

45 

3* 

50 

a* 

V 


40 


2ft 

5 

1 

•ft 

r 

r 

Jft 

r 

1ft 

r 

ft 

r 

r 

r 

4ta 

* 

•16 

1* 

r 

ft 

3* 

I* 

1* 

5* 

-14 

1* 

r 

1-M 

ift 

3 

r 

1-14 

t-u 

1* 

3ft 

ft 

Ift 

3* 


90 11H6 

3ft 



4 



64 

Ift 

Ift 


25 

r 

r 

* 



4ft 


35 

7* 

1* 



7-* 

* 


V 

4* 



V 

4* 

5ft 

15-14 

X 

IM* 

2* 


<5 

7-14 

1 

7ft 

V 

r 

r 


a 




X 

3ft 

5ft 


55 

Ift 

2* 


43 





Jft 

8ft 


*5 

2ft 

5ft 

2ft 

70 

1*211-14 


■ 

10 



25 

3* 

ift 


30 

2 

2* 


V 


ft 


23 

r 

r 


V 




25 

14 



V 

•ft 

10ft 


V 

5 

• 


60 

J 

3* 

7* 

X 




25 

ft 



25 

5* 

5ft 


V 

1 

t* 


IS 

ft 

ft 


15 

Jft 



20 

* 

17-14 


W ll-U 

2* 


IS 




s 

1-U 



V 

r 



35 

9ft 

lift 


4 

6<M 

6ft 


45 

2 ft 

4ft 


so 

1 

r 


25 

5 

5 


V 




V 

5-14 

ft 


S 

7 

r 

r 

4U 

Ift 

4 


45 

* 

r 

i* 

50 

3- lx 

X 

r 

4 

r 

Ift 


45 

3* 

4ft 


V 

l 

Jft 


70 

14 



29 

11 

10* 


80 

4* 

7 

m 

85 

r* 

s 


S 

14* 

14ft 


V 

9ft 



» 

4* 

5* 

* 

40 

1* 

2* 

2ft 

25 

9 



X 

4* 

Sft 


15 

2ft 

32I3-U 

35 


r 


« 

Ift 

4ft 

1 

45 

13-Hl 15-16 

3* 

■ 

3-1X 



15 

1* 

n 


20 

3-14 

7-16 


X 

1-14 

* 


55 

8* 



60 

4ft 

4* 

1ft 

45 

1W 

2* 

3ft 





25 

Mi 

r 


« 

9ft 


1-14 

43 

a 

4ft 

1* 

*9 

Ift 

3* 


a 

9* 



a 

4ft 



45 

944 

2<k 


50 

« 

1 


N 

5 

9.16 


a 

9* 



V 

r 


3-16 


i* 



« 

i. 

1 



r 




1ft 23-14 

1* 


3-14 




2* 


r 

£3 

EwZT 

e: B2l„ 

to 


3j± 




— _ 


— v- 




3X3 1X2 
T7J»'17i 
6877 
5U8 
SOS 4X1 
U4A £00 
USB 2X4 
2X8 2X4 
X 259 
9X2 £35 
107- 1J1 
1444 4X7 
34X2 £01 
2123 799 
1X1 1X1 
8X9 121 
.18- 2.U 
U5- Ul 
4X3 2X4 
934 241 
5705 

sis in 

157- 735 
MJ4 805 
77JS 80S 
874 3X4 
7M 344 

■a 221 
UX7 5X4 
1S7X 2M 
118 337 
a* lj? 
248- Ul 
50* 2X2 
14834 LU 
25-75 134 
VR 1X4 
3737 122 
5115 SM 
25X4 3X0 
XU- 2W 
77XJ 299 


U3- 90 
.58- 90 
5B- lOl 
1553 2X3 

ul- in 

6X7- IXS 
4X5- B 
238- B 
91- .10 
.15 59 
1X5 X5 
194- 1X1 
UV UN 
22X7 1.10 
225 V 
3.17- X3 
lot- X3 
39 XI 
H87- 04 
19X7 201 
1154 201 
811- 104 
»X1 XI 
89* 1X9 
28*0 2X8 

190- 202 
2V 1X1 
XI- 131 

837 31 
4JB- IA2 
805- 131 
£17- UD 
a loo 

280- X5 

8X7 IXS 

36 Ul 

850 Ul 
1990 1X8 

191- US 
105- US 
159- 135 
2X4- L53 

93- 1X3 
XI- 1X3 
8SS 106 
5X0 1X3 
853- 1X2 
1X2 .W 
209 .P 
737 X3 
S33 £97 
XS XI 
7X5 X7 
72X2 4X8 
R15 31 
9.13 33 
554- 214 
120 LI6 
209 .99 
3140 298 
3X7- X2 
8TV X2 
842- X2 
7115 1X7 
180 31 
424 92 
145- .15 
558 99 
*12 X 
lit 98 
L57 1X2 
1733 132 
4X8- A 
32) 49 

. * ,JI 
1234 X7 
XI- LU 
*82- X4 
813- LC 
2U9 3X2 
51X5 3X2 
9X6 .U 
Ui 1.70 
85V 1X4 

22X7 1J0 
1J3- X* 
474- 177 
7XO 233 
139- L51 
£93- 94 
2X7- .15 






-u. 


e 




HIGHEST CURRENT YIELDS — 

On convertibles having a conversion premiui 
of less man 10%. 


■ 1H* 

in 

J U2U 
ob 
93ft 
Star 100 
Mar 119 

5a> ns 

Hn IH : 
Sea Iflft 
Jim Mil, 

S£ iS 

SS IP- 

i Sir m 


Explanation of Symbols 


cm Conodltsi on tor 

ECU Euresoon Currency VWI 

EUA European Unit ai Aawmt 

L PoundStarflnp 

dm DeuiidwMonc 

NMD Nwwmian Kroner - dm 


Soft Snadd Drawtno RioMs 

T Y on _ 

LFR LUMfnbouro Frooc 
SFR frrt«F ««K 
n Fnndi Franc 




8i« esEiak.EfisBfiES^eBssggaslelbEleelgBbSeEeseSg; 


































































1 js?5ai=s;s£: 

$» r**.3H=¥n.S ?• 

!>• 

«u 

Mi 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


NASDAQ National Market 


Salts in Net 

wo* hi on low Close Cnue 
38a mu fw int+ h 

jo i.« so is* in is*— 


SoMsm Net 

MOt Mtata Low Close Ortw 


Mat 

nos Htttfv Low Close Ch-ae 




rH 



Sates hi n»i 

too* Hign low CM* am. 


* 

Vs 


Oyer-the-Counter 


Saras In Met 

Kte HMi Low Last CB'OO 


iime 
Wi 33* 
50 m 
Mi 3* 
IK 15* 
1BW 9* 
ISM 


■9 


4* 

M SVi 
ZJYl 33V. 

ia h 
u* lav. 
«i a 

7V, 
1DV. 
in. 



lift.'- f •*'"! 
i Met »v -i. ' 


ipr-'i 

! Al* V 

i” 

1 *w { 

•i 

flO.ll. 


81 ni.' r 

* U.II *• 


Hr «**» 


1M 

aw 
20 
1 » 

41* 

27 
21 

1Mb 

Uto llffc 
7* 7to 
flt » W 
im n iawr 

2V. 1* 13b 

n » n 

7V. 63b 
Ito 5to 
17* 17% 

Mtt M 
i73a tt* 

1BW T7V, 

«W 

am 
Mi 
7* 

123b 

2SV. 


Sole* In 

mi Hleh Lo 

JOI 1.1 49 ■ 

1* 4* 
Me IJ 123410 

flSe IjS *3 MV 

40 *2 9127V. 

1» S 
421V. 
756 IV, 
12 -3 43851 

J7« 4J> 2» 7 

« 11 3828 V, 

138 4V 
07 1LD 3024 k, 
45« 14 290 111, 

50 2J 11024 
93 616 
748 7H 
7*3 IV. 
54 <9 17711V. 

45 2* 
1? 3J 941914 
IM 112 
120 5 

S8 69 26 7V 

«4 3 
som r. 
za in 

20 51b 
M 3L5 344 4V, 

5*9 Mi 


Net 

w Last Oi'oe 

7Vi TVi— to 
41b 41b 
MV, Mto 
3V* to 

2JL. 22V, + V. 
7W 73.+ to 
21U+ to 
1 I* +15. 

44 Vi 31 f «to 
A 41b 
Mto Mto 
3 * 4 to + 

2Sto 25H— 

17V. Wltto 
27* 2**- Hi 

e o — * 
m 71i+ to 
i ito 
MM im— to 
3V. 2* 

UV. 19 — to 

7% nit- v. 

4V. 41.— to 

Mb 7to 
Sto 3 + Vi 

If. ft.+ to 
3*k 31* 

5 5to 
314 4 9 to 

7»i 7V. — to 


ifr 


Som in Nat 

H0i HWl LOW Last Cn-04 
FWF* t »17to 11K 13K +■ | 
FUMFn i*to in, in 

FIO0P4 40 U 70 Uto 13H Ml»<9 to 
Hnllnd Ito M 3V. + tv 

FlnN&c JB 11 IM 27to n * » 

F net Sec 4 4U 4 4to + to 

FtneAun ns fto in 9 — * 

FWr Utn TTVj 20 — 5V, 

FMUnar .90 54 3317 U U — 1 - 

FABkPfiAJO 10 llMlOto Mb 10ft ♦ Ito 
FAPXPBBJO 1.9 UIM1 10to lOto 

FMFrt 1411V. II to lito 

FBncTx .40 6J n 5*» 3b Mb 9 to 

Ftcaot* 1J7 44 144399) Mto 3M«— to 
FtCQrin JO 14 31 19to We l*to 

FrClriB* .10, 1.1 C42 9to fto 911 

Ficmel 144 42 434 3J 34 

FDIMat 3521* 17* 11 9 to 

FtEmp 120 2,7 2U45U 44to 4J — to 

FEMCPf .95, 1* 2082414 24 2414— U 

FFWSt 9SI6V7 Uto 1SU— 1 

FFONH 20, tj 21730 Uto 20 + 4W 

FFOAwsr 237527 20VJ »*1 ♦ S 

FFdBrfc 420 9to 9n fto 

FlFdKOl K1 to A 

FtFdIVa .15, 1J 3121, Uto 12V— V 

FlFflSC Ml 7V, 4* 71, + Ik 

FIFtdSL 145 Mb Mb 41b 

FFS.Man 3712V 12V I TV. 

FIFltCI 1.74b SO 35 M 35 
FFnCro 4V, 4to 4to 

FHowai 140 48 251)0 29 29 —1 

FUndSe IN U 4*7 4JVJ 4»i 

FlnsfCP 180 45 722 2M, 22 + » 

Ft Ml M 1H U 14 Mto Mto 4Mb + M 
FierpfB 288 84 3633V) 31V. UH+IV 

FlMletl 54* U 17411* I!* UK- H 
F1M1ISV 210371b 37* 27*. + to 

FtitCM I Ito Ito Mb 

FNtttpf 4M L3 41 Mto 41 41 — to 

FlNatn 637 14 U. M 14V * V 

FtO* IB 77210V. Wto lOto— V 


FlrtllCP 180 45 
FtMCOI 100 44 
FJerpfB 3M ti 
Fibbien H* u 


FNtMPf 400 L3 
RNatn 
FtOblB 
FfWwNJ 

FPeoPf 1.99 147 13L, Uto 131, 

FSkILV JbO 19 44201, 191, 191,— 1 

Fistnn laa ion ff, im- « 

FIUM OS, U $4 54 54 

FtVntv, JO 05 2S)lto 31V 31 to * '4 

FiwnFn joo 84 540 4to sv 5to— u 

FlBitklil IM 67 II U 11 

FstwK 1.12 34 3471, 47 4? — to 

Fawn 121*37 37 37 

Flnwr 220 41 4144 45 44 + 1 

Fima J3t 1J 34712* 121, 124, 

Flghtln 191 4U Zto 1 — lto 

FtMHin IM JV 1VV V 

Flam, im to 4to ♦ w 

FlaCiw JO, 50 119 41. 4 4 — to 

Fiytier Mto Wto lOto 

FwBatr .10 10 4V, *v, tv. 

Forma 557 IV Ito lto 

Foracn ,K « 4 — V 

FlWyito 140 34 9944 43 V. 44 + to 

Fanimwt awi*v Uto 19V + 2V 

Form wits 793 41b 9to «to + lie 

Fniirf n 174 3* 3to 3to— to 

FrmFn 1.1b 4J 14921 23V, 271* 6 'b 


FmkPc JOB 49 12514V 1b IbV 

FmkCe IJSalM ,l3to Uto 13V, 

FrnkEI J4 U 179 Uto Uto 171, + 1 

FmbR I J4 S 252 4jto 3*1, 451, 9 41, 

FraeSC 1.90, 90 lttorltto 17to 11 + 1* 

FraeFdl MS 7* ** 7* 

FraoSL 131311to 11V (IV— to 

FraoCI 212 3to 3to 3to 

FrIFSLh ISA t • — V 

FreitS .109 3J Hill »l Jto— V 

FrznFd JO 2J 1213 12 12 
Fulim 07, J 4441 149b 13* 14* 9 to 

Ffloial 1199 5* 5* 5* 9 to 

Funfim JSr 1.4 137 4V 3to 3to— to 


24711* 11* 11* 
373 2* Zfb 2* 
303 
14 
<7 


13* IJto 
3* 3* 
27 27V 

£ 

3Vj 

V 

4V, 


4* 

Uto— to 
II*— to 
131b— * 



FM Nat JSr 24 

FMlwt 

FNI 

FabWtil JO U 

FalrRn 

FalcLI B 

FalOoft 

Ford, 

FormBr jo 13 
FarrCs J4 1.1 
FdSCrw JO* 24 
FdGrtv, J8 12 
Front! 

Fldcfrof 325 7.9 


21to 23 + IU 
1 % l* 

3* 3 — V 
17V 13V, + * 
0* Mb 
ts 67V, — to 
•V 7* + Ito 
4to 4to— u 
34 34V, + to 

lov im— to 
in, in, 
u n — * 
2 2 

41 41—1 


Gold Options {prion i, SroLK 




290 1150.1500 2IJS232S 

MO 733 903 1S5M7JS 227M42S 

310 17S 525 HUaiZOI 1725-13.79 

330 2B0 ISO J &- 175 U7S-I32S 

330 100- 225 500- 030 10531200 

VO ITS- 525 am. V 3D 


Cddawm-apiQ 

VSdonWUitWtUSA 

I. Oni *s Mnu War 
1211 Ccaen L SwiurrVad 
TeL 3102SI - Tdn 21M3 


3H 

n* 

24 24 

Uto 18* 
27 27 

17* 17*' 
Wto If* 
11 * 
15* 


SE* 

57V — Ito 


BAK 0 LA 1984 : 


Another year of solid growth 


S QMS 6 135415* M* 15 

£ Qoadrx 1035 5* 4* 5 + V 

Z QuakC, J8 2J 21713* U Uto— * 
2 QuaSy 549 2* 2 2*+ to 

5 QVWrtm 204029* 27V 29 +1* 


1984 at a glance* 


Balance sheet total 


Due from banks 


Securities 

Due from customers (non-banksl 

Due to banks ^ 

Due to non-banks j 

Own bearer bonds N 


Capita! and reserves 

* preliminary results as of 
December 31, 1984 



Obonn 


FRANKFURT 

o 


24 286 


8 109 


2 983 


11 838 
9 307 


1 255 


12 259 




I KARLSRUHE 


FREIBURG 


31911* 11* 11*— * 
1 72971 T* MV 1I%+ 1 



Badische Kommunale Londesbank, The fxilance sheet total increased materially to the bank's positive 

Mannheim - one of Southwest by some 4% to DM 24.3 billion. performance. The London branch 

Germany's leading universal banks - Earnings were again up in com- as well as the wholly-owned sub- 

again recorded good results in 1984. parison with the previous year. sidiaries in Zurich and Luxembourg 

Foreign lending, especially export- were also successful in 1984. 
related financing, contributed 


BADISCHE 

KOMMUNALE LANDESBANK 
GIROZENTRALE 

Head Office: Augustaanlage 33, D-6800 Mannheim 1 (West Germany], TeL 16211 458-01 
Branch in London. Subsidiaries in Luxembourg and Zurich 


* 

« 













































































S «=St IS skills SHIS? HHIiiiiHiSiifHsmjiHWIK 15 1 



Two of America^ most valuable exports. 


Business Week international is a com- 
modity that business people all over the 
world value. No other magazine covers 
important business events and develop- 
ments in America and throughout the 
world with more thoroughness and ac- 
curacy. And Business Week International 
does it every week. 

But Business Week International does 
much more than report the news. It inter- 
prets and even anticipates. So you not 
only knew what's happening in business 
throughout the world, but why. And, 
more important, you learn what may hap- 
pen next. 

.Announcing the new International 
Report- 

Business Week International recently 
expanded its world news coverage with 
the new International Report. Every week 
you'll get the U.S. perspective on impor- 
tant international developments. Plus 
profiles on key international corporations. 
And an inside look at U.S. politics and its 
effects on the international market. 


You'll discover valuable information in 
every issue of Business Week Interna- 
tional. And best of all, it's the one export 
that can be air delivered directly to your 
home or office every week. Just fill out and 
send in the coupon below. 

Free Scoreboard Special. 


Order now and you'll also get the 
1985 Scoreboard Special with perform- 
ance data on 1 .200 of the largest U.S. 
corporaions and 930 private and state- 
owned companies in 57 countries. It's 
free with jour paid subscription to Busi- 
ness Week International. 


kim Funds: 

CvYTd 1111 1295 
Gmwy 9J& 9.M 
HlYld 931 1149 
Summit sn 
Cops 

inti r&s 6 lua 

Mortg 9 J 9 947 
Tech 19.14 20,92 
Alpha F 1134 2804 
Amer Capital: 

Con* US 7.19 
Crrctfk IUS 1172 
EfltTP 12 Z 7 1141 
Ek <* MV. 

Fd Alt) 1143 1271 
GvScc 11 JS 123 ) 
Grow 2440 NL 
Hart * 1 raw i 4 ja 
HI Yld VJ 5 MA6 
Mun B 1740 1&46 
OTC 1022 11.17 
POC® 2046 2234 
Provld 4 J» 110 
Vantr 15.10 1450 
American Funds 
A Sal 10 J 7 1 U)] 
Amen 894 977 
A Mutt 1125 1107 
° 1140 


Bond 

Eiiaoe __ 

Fd Inv 12.18 1131 


Subscribe now. And get the Scoreboard Special, free. 

□ Yes, send me Business Week Internationa] for one year f 5 1 issues) at 
the discounted rate formy country (see below) and bill me later The rate shown i 

is a savings of 30% off the basic subscription rate. I understand I may canad ray 
subscription at any time and receive a refund on all unmailed copies. In any case, die 
Scoreboard Special is mine to keep with your compliments. 


1181 15 J 19 
1170 1124 
1177 1232 
1545 17.10 
747 860 
946 1104 


EHSYk 1247 1346 
GvIOb ll.vo 1276 

644 776 

471 570 

904 9 j >0 
777 844 
1881 2028 
unavoll 

Sot 1172 12.92 
EtMntodt Group: 
CBtffl 948 1047 
EitoRs 11791234 
Survey 13471226 
Emu Bid 1543 1641 
Eng Util 2248 NL 
Evrp rn r unovall | 
EalFTII unovall 
FPA Ponds: 

Cecil 1022 11.11 
NWlnc 832 NL 
PaHnt 1404 1534 
Paren 1678 1834 
Fna BC 1446 NL 
Federated Foods: 
CcCstr Hun NL 
Ext* 3838 NL 
FT ini 946 NL 
FdNitfr 941 NL 
GNMA 1045 NL 
HI Ion 1145 1246 
Ineo 1026 nl 
10.17 NL 
1117 NL 
1345 NL 
1772 NL 
FMem? Invest; 

BOlM 649 NL 
Conors 57.94 NL 
CaitM 1047 NL 
Dcslnr 1 Z 3 S 

DUCV 20.15 NL 
Ea Inc 2544 2647 
Ext* 4742 NL 
Fk»l 1673 NL 
Fredni 1377 NL 
Gvl Sac 946 NL 
HHnco 876 NL 
HI Yld 1179 NL 
LI Mun 071 NL 
MOO* 3779 38.96 
Mun Bd 643 NL 
MassT 946 1046 
1441 1446 


Horn HPA SJS 850 
Hart Gift unavail 
Hart Lev unovall 
Hamelav r 1047 nl 
NL 

s. a 

Emrp r 1146 NL, 
Gwth r 1370 NL 
OP! I IK 9-54 NL 
GvtSe 943 NL 
Natl 1043 1046 
NY Mu 9 J 2 1833 j 
lRIStOk 1543 16 . 16 ! 


HM 132 
941 948 
9481046 
9.92 1804 
973 1043 


Lutheran Bro: 

Fund 1446 1544 

incom 849 594 

Muni 648 774 

Mass FlaanO: 

MFI 848 947 

MFC 941 1030 

MS NC 9 49 10.17 


EqlPC 778 7.94 
OPPfn 941 1817 
Gold 677 645 
HI Yld 17.12 1836 
Pram 2146 2344 
HBCV 1345 1470 
Sped 2045 2279 
Torpel 16201773 
T * Fre 7.95 832 
Time 1336 1440 
OTC Sec 1676 17471 
PcHzCal 1274 ML 


Grwth 1807 NL T .'£? r Fd “331 

Inca 1274 NL Tuar F “ "T 

Munlc TIM NL 28 Ni Centannjl 

StPaul invest; Gift r 4 * 3 . 

Cop 1 1 i&so H .17 Grwlh U«f 
Gorin n .92 1 X 40 Select % 

Inca 940 lftBl Ulira r T* 

_ Seed 1778 NL USGv 97 . 1 ? 
Scodder Foods: vista r 40 * ... 

CatTx 9S9 NL m ' 

Dewl 62.17 NL - 

CaaGt 14 .T 7 NL “EST 1 jjj 

S££ !i3 3t as 1 " BS-: 
BW“ ”,S St S 

KL SIS, g 

Action 747 TxESh M* •„ 

Bond 746 804 UnHled MontoH • 

Eouty 544 89 7 Acum '-S'*. 


•v%«y 


Paine Webber: 


ids MatBai: 

IDSAa r 639 NL 
IDS Ear 643 NL 
IDS Inr 576 NL 
IDS Bd 441 477 
IDS D 1 S 748 745 
IDS Ex 441 547 
IDS Grt 16.90 1779 
IDS HIY 376 4.17 
IDS I nT 5.14 542 
IDS ND BAS 9.11 
IDS Prog 6767.12 
Mutl 1173 1142 
IDS Tx 347 345 
Stock 1673 1743 
Select 744 806 
Variab 818 841 


MS VA 
MIT 
MIG 
MID 
MCD 
MEG 
MFD 
MFB 
MMB 
I MFH 
MMH 
MSF 
Mathers 
Mesdhrr 


976 1(125 
ram 12.96 
1144 1233 
978 9.92 
1 L 14 1101 
1547 1679 
1143 1154 
1249 1347 
9-34 941 
678 731 
946 953 
746 844 
1732 NL 
2119 NL 


Atlas 
Amer 
GNMA 
HlYld 
InvGrd 
TxExat 
Paxwia 
Penn Sa 
Penn Mu 


unovall < 
1349 14 . 9 a 
956 9 , 98 1 
991 10.35 
947 iai 0 | 
941 hum ! 

unovall i 
857 NL 
655 NL 


Invest 895 978 Gwth 1932 

Ultra 810 845 '"CO IJJJ . 

selected Fends: Midi 1182 . 

Am Sha 1134 NL u-M-rf r.initr 
Spl Sh3 1847 NL U ££l F ‘ W ^k 6 ■ 

Mtamn Urn... Accm 740 


Spl Sha 1847 NL 
SeJJaawn Group: 
CopFd 1144 1150 
Cmstk 1 X 29 1335 
Comun 872 953 


1144 1250 Tof 

VJ, *5 Con Inc JSg .. 
tt« ,Sx 7 Ml Ine « «• ' 


PermPrt 1050 NL 


Inca 1146 1 X 57 r.LIE' {fK.. 

MassT x 7.14 750 ISSJ" *f 5 

MIchTx 736 742 . 

MlrmTx 742 737 .if. 

NOtlTx 7.19 755 gi 1 !! ffi 


Phoenix Series: 
Baton 11.10 1 X 13 


Merrill Lynch: 

Basic 1446 1547 


MtgSc 940 9.901 
NYTxS 10 JD NL. 


Wsh Ml 1811 1145 
A GHiFd 745 350 


Name [pfcasc print) Mr. Ms. 


A Her I to 
A Invest 
A Inv In 
Am Med 
A NIG Hi 
A Niine 
Aftiwav 
AflfllVt 

Aiming 


X 93 NL 
7 JO NL 
9.17 NL 
3271 NL 


1848 7139 


NYTxMu 1847 1058 1 
Purlin 1 X 19 NL 
SelDei 052 um 
SelEn 11479 1132 
5 *IFIn 2133 22 JB 
SelHIt 3073 31 . 15 , 
x-iL-l 1102 14.10 
946 946 | 
SdlTdi 2145 24.13 
■ 17531830 

1 XU 1256 
948 NL 
39.95 NL 
1937 NL 
Pros; 


SelLolB 
SHMllI 
SdITch 
SHU till 
SPCSIll 
ThrlH 
■Trend! 
FiduCao 1 

■inuaCtoll 


Stock 1673 1743 

Soled 744 806 

Variab 818 861 

IS 1 Grow: 

Grwlh 652 756 

I acorn 370 444 

Trsl sh 1810 1144 

Industry 640 NL 

Hit invfl 9 J 8 1891 

lent PertfoAo: 
EttulM 9 JS NL 

GvtPI 838 NL 

HIYM & 6 A NL 

Ootn . 891 NL 

ITB Group: 

Inv Bos 18441135 


Caplt 21.12 2 X 59 
Eau Bd 1142 1150 
FedEc 948 1811 


1649 1843 
1438 1572 
942 970 
1242 14.12 
1890 


1237 NL 
7.98 831 
1835 1078 
954 1043 
1045 1866 
?.7* 948 
»4J 943 
638 737 


PotFd 1473 1575 


156 1236 
939 10.15 


PSprlm Grp: 

Mag C 753 812 
PAR 2 Z 5 I 2245 
Pllg Fd 1474 1549 
PllpHI 7.98 860 
Pioneer Fend: 

Band 867 948 
Fund 3074 2X67 
It Inc 1644 1819 
- !■» I!* U33 1546 

PMImd 1X74 nl 
P lies Foods: 

Grwlh 1447 NL 


NY Tax 7.14 750 
OhloTx 745 740 
sentinel Group: Uta services: „ 

Baton 1813 1147 GldShr IB 
Bond 612 669 GOT ll» 
Com S 1838 3049 Growth 756 
Grwth 1647 1538 Prsoct 5 j 
seauoto 3036 NL valFru HUO 

Funds:' 2 " 15 

EE % 

Appro 1834 1956 lwci £9 

iSv£V mKim 

wS -X w 511 11M 

SRi 2 VKfflpM ug 

"'jl™, K® VK US MJ0| 


1839 VAO? VWoe Bxcbeoj 
1646 14 40 1 COPE r 68 * 


W Val 11*2 1171 
Mid AM 643 735 


IVodon 
«■ Service 


□ Mannfocwrer This is □ my home 

□ Non-Manufacturer [Iltfficc address 


Awn rSdrlTOk Bc%mi iBFrStOI 
DtMMA iDKr-KNi: bur tliUSI 
Fla bad rFMKIZh. Fcncr I FFr 1191 
Gcqnov rDMHIk Iwhr ILxtMSOi 
Loentanc il 5 rJ 360 l. Nn&aiud. IB l* 1 i 
Norwn iNKi.tlSl- Ponaol ( EkS 7 «i 


Axe HouoMon: 

Fnd B 943 1079 

Incom 648 647 

Slock 740 852 

Bateau Cnw: 

Bond T45 NL 

Enlgrp 114* NL 


Street Address 


Settf IPuaUWO. Swlai iFt.rHh 
Swomdanl |WI t UK il»l 


Swmatim I 5 MI t UK <1291 
Oder Earapup Il'SSJII 
OeetoMmiilJSIIi 
tan M H| eei u ttaaopt iAb I1.1J 


w “B«anewWfeek^ 

RO Bdx 67b. HighBtuwn. NJ 08520, USA 


cnient ii4* NL 
Gwtn 1X36 NL 
UMB St 1131 NL 
UMB 0 730 NL 

BLCGt 17.16 1875 
BLC Inc 1370 17.15 
Beoc Gth 1549 NL 
Beac HVU 19.14 NL 

Mem Capital: 
QjTFL 941 NL 
CalTPr 946 NL 
CoaNT 1033 NL 




Bond 630 NL 

Ovna 733 NL 

FnClTx 14.12 NL 

IndUCt 441 ML: 

Incom 845 NL 

WrltfT 802 NL 

Fit investors; 

Bnd Ap 1X33 1129 
1252 1340 
1135 1234 
7J6 8M 
579 831 
Innsec 1350 1675 
Not Res 543 550 


Hllnoo 
MdTF 
Inv Rash 
IStttl 
IvvGtti 
I W Inst 
IjP Grill 
JP Ineo 
Jon in 


1819 15 J 0 
1641 15 J 4 
536 iSl 
I 3 J 1 NL 
13 J 6 NL 
11 X 58 NL 
1803 1&25 
7.99 868 
1 XS 1 NLl 


813 541 
1148 NL 
1930 NL 
938 NL 


1129 NL 
938 NL 
817 NL 
1 X 27 NL 
lb 43 NL 


l 1606 1440 CopE I 

D unovall DBstt 

Gt unovall DverJ 


noma Fonts: I E*Pd f wkJl 

Caott 1636 15471 E*Bsf ?2K 


DBstf 41J( 
Dv*r f 71* 
ExFd f W8J 


Inca 749 ‘8.19 FJdJEl 

Invest 801 875 ScFidi 63J* 

TYnl/* j?«o iSxt Vanguard Gro* 
Tnsl 11J9 1147 grplr jtjl 


Mid Ben unawUl 
Mutual of Omaha: 


N HarlS 14.13 NL 
SliTrB 437 NL 


John Hancock: 

Bond unovall 

Grwth unovall 

USGvf unovall 

I To* Ex unovall 

KauFmn .14 NL 

Kemper Fends: 
CalTx 1116 1173 

Incom 809 641 

1 X 47 1343 


, Amer 97 S nl 1 

Grwth 603 455 

incom 859 9 J 6 

Tx Fro 933 10791 

Ml I Quo I unovall 

*fuj Shr unovall 

Nat Avia 933 1035 

NWInd 1 X 16 NL 

Nat securities: 

Bohn 1666 1541 


TxFrl 

TxFrSI 

PrlnPTE 


Pro services; 

Metrr tfl .13 NL 

Fund 1042 NL 

Incom 822 NL' 

Prudential Rocha: 

Adi PM 2157 NL 

Emit tv- 15471638 


HI Yld • 1815 18 
IntlFd 1117 13 


NYTXF 1 X 03 1237 
90-10 1121 1644 

Ootn 811 551 
Tax Ex 893 943 
FlexFd 1154 nl 
64 WIEO 821 536 
44 Wall 579 NL 
Fnd GUI 642 683 
Founders Grow: 
Grwlh 7 M NL 
incom 1433 NL 
Mutual 1034 NL 


811 851 
1 U 0 1 X 25 
2436 27,17 
1143 1249 
1606 1834 
S 40 034 


Bend 

CaTsE 

Fed Sc 
Grwth 
PreM 
Incom 
RaalE 
Slock 
Tax Ex 
TotRe 
Falrfd 
NatTele 


121 846 
1137 1139 
1171 1113 
tn 946 
7 J 1 748 
7.13 749 
733 848 
9 M 1813 
U 9 80 S 
836 686 
937 1813 
1270 1 X 06 


Gtabl r 1136 NL 
GvtSc 932 HUB 
HIYW 9.98 7870 
HYMU 1 X 98 1444 
MuNY 1826 NL 
NOec. 1 X 34 1631 
OptoG 1633 1740 
QtVlnc 14711548 
Rsch r 9.19 NL , 
UHlHy 1053 11 « 


Trust 1159 1247 
Vent 1818 11.13 
imlth Baraev; 

Eton 1X78 NL 
IncGrg 9 .M 959 
USGvt 1X85 1343 
oGen in unovall 
WiniiK 448 NL 
aver in aui 3U7 
tale Band Grp; 

Com St 550 601 
Divers 640 x «9 


■ 

’M.ttdE- 


QDvlII 23J 
TC Ini HB 


Proara 821 897 
StFrm Gt 1814 NLl 


Putnam Foods: __ 
Cenv 1 X 29 1 MB 


Keystone Man: 

Cus Blr 15 J 8 NL 


Cus B 3 r 1744 NL 
Cus B 4 r 742 NL 


Cus Kir 854 NL 


. 1110 Pd 
101 Fd 
Boston Co: 




Sped 2622 NL 
raaklin Group' « 


rrmlclln Groan: 

AGE X 61 176 

DNTC 1041 1133 
Equity 532 163 ! 
Fear* 1014 1056 


Cus K 2 r 660 
Cus Sir 1974 
Cus S 3 r 835 . 
Cus S 4 r 146 
Mtl r 673 


KPM r 1 X 35 NL 
T*Fr r 743 NL 


KMPea r 1577 NL 


Nottaowide Fds: 
NotFd 1895 1126 
HOtGtn 876 947 
Not Bd 9 JD 976 
NBLH 6 Fanil: 
fault 2826 2 X 02 
Grwth 2X06 2196 
Incom 1821 11.12 

Ret Ea 19.73 2143 
ToxEx 676 728 
w s u he ra n r Berm: 
Enrgy 1895 NL 
Guard 4152 NL 
Ubtv 191 NL 
Mar hi 738 NL 
Ppnn 1636 nl 


CalTx 1345 1612 
Caplt 740 
CCArp 47.29 4850 
CCDfP 47404862 
InfaSC 1 X 31 1345 
ini £a 1633 1850 
Georg 1137 1242 
Grolrw 189011.91 
HMIth 1739 1890 


5tFrm 01 1179 NL ]nd Tr 
SJStieel Jdv: MuHY 

E«J1 *842 ML Mulnl 
Grwth r 565 1 NL mulo 
I tivst 6973 7®.i0 MinLs 
SModman Fandi: Musnt 

Am mg 192 NL wens) 
ASSOC 46 NL WMHn 
lmesl 148 NL amfcr 
8« NL venturln 
. |. W0II5I 

^ 6 " d “I- wetn Ea 


Can Oa 2139 ML Wstord 
Dlscv 1809 NlIZ !™^ 


HI Yld 11 T 4 1639 
Incom 675 734 
Invest 1047 1144 
NVTv 1654 1539 
Ootn II 16 1 X 13 
Tax E* 2142 2 X 49 
USGtd 1449 16.79 
vista 1652 1845 
VBVOO 1685 1847 


TOMEx 801 NL 
TatHet 2234 NL 
Untv 1646 NL 
SiratCOB 776 848 
Stratinv 536 546 
Srrot Gth 1*57 NL 


lira NL 9*999 stnrthen 
ISM ML 9*V«9 41.7 
«J 1 ML Meu " 1W 

UJl pm* 

1646 NL ■«*« u 
« u NL — NO 

W I* 01 ** 


Stranaln 
StnwT 
Tel incSh 


1755 I 7 J 3 

1635 16 J 2 I— Previous 
1450 auOK. rw Redd 


iy 




* 















































5 = * & ^ 


'gS?s;-2 m 

;“!?»' Jg u 


?i» rr 


BUSINESS ROUNDUP 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


Page 13 


Si,* ’i s*®* 

E *»S SIMs,* 

K!» X“ r ^r 
S?— ti fcSTfi - * 

S’*;*’ !S&" 

S ■" * Vii-mi 
»W~ 't 

SK- >- MSS 

i.»: Mr?- 

o . VlMuB, 

*? “ 1 y«fu. n 
k+ M, 

l«* + | 

P 

l> 


■ ;::: ^! Bank of America Sues 

™ «'8iSV 

an il! 6 Workers in Scandal 


*pu 

;« ft 


_ a er "^ r fflod Friday in California state 

SAN FRANCISCO Bank of court, says the employees commjt- 


America has sued six employees, 
’*i£ « accusing them of “gross nega- 


ted egregious violations of the 
bank's procedures and also "tg- 


*»l Ik ■ nr ■ »r .*>“ wu *-» pioteuuio nuu aao tg- 

«>£Sl gcnce for thar involvement in a nored or violated rudimentary 

morteaafi-faadred securities scandal ht n L;«>. ..j - 


Jfctiroot 
, Woiob 
J* Wibilu., 

w »V‘ ,un 

;■ nnliaui 
1' (iihiakiii 

*• WjOw 

1 WelbO 

,.l W«aaa< 


“ ““ lu r uu f- ‘ aDO We simply do not have anv ba- 
*»*£“■ . sis to S or suspect fraud or 
Five of the sot employees have criminal acts by any of our employ- 

“SS1SS,!! ccs.” said Winslow Christian! di- 


demoted, the bank said. The law- ^ d ^on for 

Francisco-based bank. 


1 Wrlho 

.1 W«3Hj< 

* J&i, 

JB- «. 


i«u 

J1i* 

» - 1 
Itu- l. 


Woti'iju 

^‘"-nn.1 

"Ltrni 


JW— V WMn w 

83KS 

*L_* w.i SBc 


J* u Frandsco-based banL 

S I* : fr fir -in • t 1 Tte lank also filed suit against 
’*ri5 g’kt- red Raises Level National Mortgage Equity 

. 5 "; M ' ♦> $■ Carp, and the West-Pac Corp- two 

- - i! W Bank Capital X°^"i"S 

u- K sj gs WASHINGTON —-The Federal of violating federal securities law 

Jttvi - 2^5; Board of Governors has and defrauding investors. 

" tentatively approved, guidelines That suit, filed in U.S. District 


The bank also filed suit against 
the National Mortgage Equity 
Carp, and the West-Pac Corp_two 
companies involved in the inciden t, 
and their principals, gfrncing than 


5 SBf ,a 

- xtr* 


that would raise capital reqirire- 


*J wiionj 
WilVJ A 

lit! W“VJ 8 

W* . WtmoTf 
ijh.- ti *[itfTc ; 
f. WrliHiui 


2!* :K ” *5 ?■ members of the Federal Reserve 

SB,- „ „ System. 

wil?" 1 1 , v The change, proposed last July 
SUlSj^o n 34 ^jjjiiand voted on Friday, would in- 

Mfliinr -.i'*' 1 5 rrMCA flip ronilol wm nT W W Winf fwim 


Wjnnc „l 
Wln&IMI 


t i w«bT 

iS: ♦ s*" 


JJ XUlAAo, 


W, * 

122; l- 

mb — Zvcod 

4BV> + 9 Zvm 


Net j 
dm Circle j 


-iir : :r , -uiinri 

P* t F Ivorlm 
fa- EC I VecirG 
™ 1 VeteBa 

!K_ H 1 ^"' 

**■— ** Veta 

VUonF 
JM*— £• Vicom 
!3 l5T 1 ? Vtcibn 
’US ♦ IS victras 
•n — in viqocFi 

Tf ■ 1 . Virol p* 
tV» 4h» Vli.T.rh 


W. Michael, one of the partners of 
the firm, which represented Na- 
tional Mortgage Equity. 

The suits and dismissals follow 


Bechtel Projects 
Fell 38 % in ’84 

United Pms hticnudtmal 

SAN FRANCISCO— Bech- 
tel Group Inc. said that it fin- 
ished 53.6 billion in projects 
last year, including completion 
of four nuclear power plants 
and a one-of-a-kind coal gasifi- 
cation plant 

The value of the completed 
projects was down 38 percent 
from the company’s all-time re- 
cord of S14.1 billion in business 
billed in 1983. Bedttd, which is 
privately bdd. booked S5.1 tril- 
lion in new work last year, just 
under the average annual book- 
ings of S5.4 trillion, and project- 
ed a 30-percem increase in new 
work for 1985. 

The construction company 
also said Friday that it had 
completed the OK Tedi gold 
mine complex in Papua New 
Guinea, the Yanbu petrochemi- 
cal complex in Saudi Arabia 
and a refinery expansion pro- 
ject in Richmond. California. 


U.S. Treasury Shifts Stance 
On What Boston Bank Knew 


By Fox Butterfield 

Ne*- Ycek Tima Stnice 

BOSTON — In what It called a 
clarification, the U.S. Office of the 
Comptroller of the Currency said a 
letter it issued early last week did 
not mean to imply that the agency 
had cited First National Bank of 
Boston in 1982 for a violation of 
the international currency-report- 
ing regulations. 

H. Joe Selby, the senior deputy 
comptroller for bank supervision, 
said in a new letter Friday that, 
Instead, Bank of Boston bad been 
cited in 1982 for a violation of the 
currency regulations involving its 
cash transfers with domestic banks. 

The earlier letter, Tuesday, 
seemed to contradict repealed 


Creditors Vote 
To Take Eastern peoJ^^Th^^sZ fuii 

Out of Default An co executives said that the 

, J , ~ outcome of the feasibility studies 

l nntd Prea imamnwi wjj, determine whether Of not the 

MIAMI — Sixty Eastern Air company proceeds with construe- 


Areo Plant Prospects Studied 


feiS with Swiss banks from 1980 to LiuieJ Press Imemnc^ul 

^ S500.(XX>- MIAMI — Sixty Eastern Air 
Bui in the new letter Friday, sent Lines creditors haw voted bv mail 


to various legislators in Washing- 
ton. the comptroller's office reiter- 
ated its earlier statement that dur- 
ing its 1982 review of Bank of 


Boston an officer of the bank “ex- Saturday. 


lines creditors have voted by mail coo. which could been as early as 
to take the carrier out of technical the second quarter of 1986. The 
default on its S 2 ^ billion in loans if studies will include financing re- 
three unions ratify wage cutbacks quiremems. availability of oil sup- 
by April 15. airline officials S3id plies, utilities, and market* for the 


pressed some confusion as to the 

reporting requirements for curren- 1 06 ae P sv ° n ** “* K0Gew «*«* Asked what Aico would do if the «*ne-da> summit meeting in fans 

cy transactions involving foreign f 3 of tentative agreements market for lead-free gasoline in hist Thursday, were unable to agree 
banks.” between Eastern and the unions to Western Europe fails to material- 0,1 bon- to proceed with resolving 

The letter appeared to suggest work 001 3 P r °S ram of employee ize. particularly in France. Spain their differences over the emtMon- 
both that the compiroUers office * age an f. .concessions and Italy, Mr. Hirsig said that the wntrol issue 

had failed in its examination and ^ a bout company would examine the pro- They established a joint w orking 

that Bank of Boston, while techni- 522 051111011 Uuou £ h 1986 far more closely. “Under a mi- group' to develop what were do- 


producis. 


been debating whether lead-free 
gasoline, required lor cars 
equipped with the conveners, will 
be available throughout Europe. 
About 700 service station* were 
planning to offer lead-free gasoline 
by the end of last year, but J 
French oil industry executive said 
that the current supplier m Europe 
were "minimal.” 

President Francois Mitterrand 
of France and Chancellor Helmut 
Kohl of West Germany, during a 


The decision by the lenders came Asked what Aico would do if the one-day summit meeting in Pari* 


jeci far mure closely. “Under a mi- 


Charles Bryan. District 100 pres- croscope.” he said. 


currency regulations involving its cally not cited for viola ting the in- . J Utmrles Bryan. Distncl 1U0 pres- 
casb transfers with domestic banks. lemaiionaJ reporting requiremem, lderi ' “ IntCTnauonal Assooa- 
The earlier letter, Tuesday, had some awareness of the trouble, uon of Macmmsts and Aerospace 

seemed to contradict repeated Moreover, independently of the c P”* 2 * 

claims by Ranir of Bostm that it comptroller’s letters. Treasury De- blyabouta ! 5-day ratificauon time 
was not aware it was violating the partment officials have said they lor us - R>™ara McGraw. an East- 
international currency-reporting l oW Daniel Dormer, a vice preri- ern spokesman, said that the mail 
rules until 1 984. Bank of Boston dent of Bank of Boston, in August baUot amongthe amine s creditors 
pleaded guOty last month to failing 1982 that the bank was not in com- w*as completed Friday, 
to report $12 billion in cash irons- pliance -with the international re- Eastern went into technical de- 
porting requirement. fault on its loans at midnight Jan. 

Barry Allen, a spokesman for 31. when it failed to reach new 


idem of the International Associa- 7^ West German government 


Eastern went into technical de- 


d. ' regional banks — those with assets 
— J*® 8 . of more than $150 *™TKnn- 


Fiat, Ford Discuss Cooperation Pact 

that the bank says were based on TheAsiocwted Pros Ford and Fiat are already ioim “ecomptroller s office. _ 


jxtAssocuM ma Ford and Fiat are already joint 

TURIN— Fiat, the Italian auto- shareholders, with the Dutch gov- 


t77 '2& wiw, property whose value was inflated. TURIN— Fiat, the Italian auto- shareholders, with the Dutch gov- 

of more than $150 millKm. The problems caused the bank to maker, says it is considering indus- enuncm, in k company developing 

The requirement would remain take a $95-million charge against trial collaboration agreements with a new type of automatic transmis- 

— at 6 pere mt for smaller banks. The J984 earning. Ford Motor Co. sion to beproduced in Bordeaux by 

muum um capital requirement rep- The bank acted as trustee and Fiat officials, who asked not to . Ford. 

__M^ rescnts die shareholders' invest- escrow agent for mortgage-backed be named, said Friday that the Fiat has also sold cylinder heads 


minimum capital requirement rep- 
resents the shareholders’ invest- 


to seize Eastern’s aircraft. 


ment in tee bank as a percentage of securities sdd by other companies companies had established work- and its assembly-line robots to 
the bank s outstanding assets, to thrift institutions. When the ing groups to study “seriously the. Ford. 

mostly loans. The standards mainly problems came to light, the bank possibility of a certain type of co- Recent Italian stock market ru- 
«fect a han dful of banks, most of bought bade, the securities for $133 operation w hich could give ad van- mors have suggested that the two 
wbicn ha ve been moving toward a million and said they were worth lages to both of us.” companies were nearing an agree- 

6-percent minimum. only $38 million. They said any agreement with roent under which Ford would take 

An estimated 95 percent of the The lawsuits seek recovery of the Ford would likay be in the auto- a financial stake in Fiat. But the 



Vlrnipt 

i VliTach 
VoCovI 
VoHinl 
V*vo 
Vorfqc 
** IVtavnl 


■m j " the bank's outstanding assets, 
$ mostly loans. The standaras mainly 

r - affect a handful of banks, most of 

Gaisin —.which have been moving toward a 
1 jo- MiB1 6-percent minimnm- 

An estimated 95 percent of the 
M 4I ^|s 2. nation’s banks already exceed the 
po requirement. 

,J£i^ K 

'»>3* ‘ 

Cable Studies 
r,e, ' 5 SS? China Ventures 

^ii!l ■ International Herald Tribtae 
J 

.31 .< '$* * LONDON — Cable & Wire- 
Ja less PLC said Snndav that it 


companies were neanng an agrec- 


They said any agreement with ment under which Ford would take price index rose 1 percent in Febru- 
Ford would likdy be in the auto- a financial stake in Fiat. But the ary, after a 1 -percent gain in Janu- 


Of the comptroller’s claim that a Lenders after that time could have 
bank officer had discussed the in- called in their loans, demanded 
lernational currency-reporting re- higher interest rates or attempted 
quirements, Mr. Allen said: “We to seize Eastern’s aircraft, 
don't know if the conversation did But the company and it* unions 
or did not take place.” finally reached agreement on a new 

wage package last month, prompt- 

r , ing the vote by creditors on East- 

tx wi som e r rnces Up m Italy era's request to be taken out of 
Reuters * default. Eastern has not made a 

ROME — The Italian consumer P 1 ^ 1 slDce ,979 - 


ssrvBMsra: 

night attendants maclEIuS ^ong oihci*. wluch want 

Lenders after that time could have “if** lb f on ® , . na! dale ' 


estem Europe fails to material- 0,1 ho*’ W proceed with resolving 
x particularly in France. Spain their differences over the «nis*ion- 
id Italy, Mr. Hirsig said that the control issue, 
mpanv would examine the pro- They established a joint w orking 

:i far more closely. “Under a mi- group’ to develop what were de- 
oscope.” he said. .scribed as "compromise propos- 

Thc West German government *ib." EC environment ministers 
>t fall proposed that all new cars will also take up the issue during a 
ret the equivalent of U.S. emis- meeting in Brussels next Thursday. 
>n standards by Jjn. 1, 1 9fW, six "There are many unresolved 
ars ahead of the 1995 target dale questions connected with this 
oposed by the European Com- problem of lead-free gasoline in 
unity Commission. Europe” said a spokeswoman for 

However, the related proposal of Societe Natiunale Eif Aquitaine, 
uipping new cars with an ex- France’s state-owned oil eompanv 
ust-cleaning catalytic converter Areo approached Elf Aquitaine 
s drawn intense opposition from about a joint effort at Fo*. and the 
each. British and Italian auto spokeswoman said, c have not 
ikers, among oihcr*. which want yes or no.” 
stick with the original date. Arco executives said that the 

The automakers have argued company had held extensive talks 
it the conveners could sicnifi- on GTBA with other refiner*. 


years ahead of the 1995 target dale 
proposed by the European Com- 
munity Commission. 


fault on its loans at midnight Jan. ^PPmg pew cars with an ex- 
31. when it failed to read! new ^utt-ckarang catalytic convener 
. u has drawn intense opposition from 


The automakers have argued 
that the conveners could signifi- 
cantly reduce the power of popular 


-percent gain 1 


S95-millk» losses, plus S100 mil- making sector, where Ford and Fiat officials said they were not ary, the official statistics institute. 


lion m punitive damages. 


Hat are Europe’s market leaders, aware of any such project. 


ISTAT, said Saturday. 


But the company and it* unions carS- 

finally reached agreement on a new Automakers in West Germany 
wage package last month, prompt- an< l other EC countries also have 

ing the vote by creditors on East 

era's request to be taken out of rr n “" — 

default. Eastern has not made a If 
profit since 1979. | 

Final action by the lenders i* 
expected to clear the way to an 
extension of relaxed terms on East- 
ern’s debt, at least through 1985. 


Arco executives plan to prevent 
details of the Fits project at a new* 
conference scheduled for Tuesdav 
in Pari*. 




Cable Studies 
China Ventures 

International Herald Tribtae 


Soviet Revamps Troubled Oil Industry 


Societe Generate 


WO 40 

WOtt»C 

WlfcrTol 

Wv>iE 

WF-SL 

MIQ 

w*hV; * 

W'Dinin 
Wrt-b* 
WWRUln 
WcKla i 
wen:l» i 
WbMi n 
Wnt/:»S 
WalF*'^ 

WMIcr 

WML1 

WIHAs 
Wina- r 
WKloki.) 

wmi«u>: 

KWpiUa 
W‘tn' 
Alii. «•!» 
1 Vul'm' 
WHIVVA 
; V..IIB.I 
|V-I‘ >.» 
ivim-in 

WilV.I 

WiUiill 


* LONDON — Cable & Wire- 
j. less PLC said Sunday that it 
■— had reached preliminary agree- 
~r meats for two more tdecom- 
: munications joint ventures with 
£ China. 

t The Londtm-based company 
k said it had agreed with Chinese 
“ officials to study the feasibOirtr 
- of jointly setting up a technof- 
1 ogy-developmcnl center in Bqj- 
2 : ing and developing tdecom- 
*r munications services in the 
> Yangtze. Ddta. 

I The center would help Chi- 
( nese authorities import ad- 
x vanced equipment and would 
f be expected to cost about $20 
} million. Cable & Wirdess said. 


(Continued from Page 7) missed the oil minister, Nikolai A. the need for developing a lot of 
reached a peak of I2J3 million Maltsev, who bad led the industry scattered small and middle-size 
bands in 1983, Brmrriing to offi- since 1977. An announcement said fields, building roads and power 
dal Soviet statistics. During 1984, Mr. Maltsev, 56. had been sent to lines through the trackless forest 
it dropped las than six- tenths of 1 early retirement. and providing sufficient housing 


dal Soviet statistics. Du 
it dropped less than six- 


pereent, to I2JL5 million. But in He was replaced by Vasily A. “a services tor tne /UUJUUOU 
January the trend suddenly took a Dinkov, 60, the of ihe a&t- 8“ woritcrS and ** families. 


lines through the trackless forest 
and providing sufficient housing 
and services for the 700.000 oQ and 



BANQUE WORMS & Cie (SUISSE) SJL 

New address 
as of March 4, 1985 


steeper downward turn, with a de- oral-gas industry, who has led one 
dine of 3 percent, to 11.9 million of the most successful sectors of the 


barrels. 


urai-gas industry, who has led one But Mr. Dolgikh, himself once 
of the most successful sectors of the an industrial manapfr in Siberia, 
Soviet economy, exceeding as- also placed part of the blame on 


It was the first time since April signed production plans year after poor 


1980 that production had dropped year, 
below the 12-mfllioD-barrel mark. Ar 


He said 


and manageme nt 
oil administrators 


below the 12-mfllioD-barrel mark. Apparently trying to rally lag- should have anticipated the prob- 
Tbe sharp decline early this year ging production in West Siberia, lems the industry now faces in 
has been running counter to offidal Vla dimir L Dolgikh, the national West Siberia, 
production plans, which have set Communist Party secretary ^ ^ apparant au^oc to the 
an increase ofrnore than 2perceni charged [wtih supervision iof the en- replacementof the od minister, Mr. 
this year, to 1236 milhon barrels a erar mdustnes, visned the area m Dolgikh also called for the appoim- 
da« mid-February. — “ .» < < . ”• — 


U.S. $250,000,000 

R oating Rate Notes 1990/1995 

For the six months 4th March. t3S5 to 4th September. 1985 
the Notes will bear an interest rate of 107ie% per annum 
and the coupon amount per U.S. S100.000, will be U.S 
S5334.7Z 

Again Bank 

Samuel Montagu & Co. Limited 


1 3, Route de Rorisscmt 

P.O. Box 391 

CH- 1211 Geneva 12 


Tel. (022) 46 91 55 
Telex: 427 620 WOR 



Apparently alarmed by the de- 
velopment, the Soviet leadership 
announced Feb. 13 that it had dls- 


(tribune!!#! 


meat of more capable admmistra- 


autos tax rm j INTERNATIONAL CLASSIFIED 



In speeches to local oil officials, five and managerial personnel in 
Mr. Dolgikh attributed the slow- the ofl industry. “Mistakes were 
down in oil production partly to made in appointments,'' he said. 


Industrial Nations Agree 
On Need to Halt Dollar 

(Combined from Page 1) of its economic policies is having 


WANTED 

Gar tr ain, dadet* ar ogantk. 

Duo to numerous requests by 
rtmduof buyers, we are seating 
Dealers in the USA/Ovamcd 

Wa export exdutnm European Garn 

■MW. Matmim, Pond*, Je^tar 
W* r D*CTl WORM BVL 


(Continued From Back Page) 


AUTOS TAX FREE 


AUTOS TAX FREE 


would losejobs if the dollar were to 15 1 ^i*5, tw ? 1 ' 

collapse." because the strong dollar is rousing 

The new Reagan dollar strategy 5J*h PoMai unrest in the United 
falls into line with the views of Mr. , 

Volcker, who said twice in congres- fsr “ cr ^ a « oounling 

sional testimony last week that in- “ Washington, appeahng 

tervenfion could be useful as one of Sf?* 

several tods lo bring down the dd- “ II 1125 

been so strong that a grain compa- 

From mid-January through the J. « «»“ 

third week of February, themajor ^ «> fw * y 

Western nations imenJned s«Sal “J l 1 .* 1 . a 

times, but in small amounts, total- P™. 10 for 
ing about $43 billion, without no- ***'. P^sed f ' “ ^ 

licoible itlax, a Treasury offidal outajof 


aw 

Art 

pm »rt 

104 

n:. 



«Ste 



M 


»w 

Nl 

V . -■ 

*WP 



L 4gT,)V'»X*' 

Sam , , ;i 


* * 1 . * 



•. •- 1 

1215 

M. 

1 .M, — 

;ui' 

N‘ 

‘. WC- 1 , 


Ml* 

I, J* »■/ 
UJ4 M 


2FOR1 

iB? : Subscribe to trie IHT at special introductory 

fS aies for new subscribers and save almost 5056 
iT f3ff the newsstand price in most European 
bxjuntries. 

‘ Twice as much news for your money. 


.’T? Ttr. Subscription Manager, International Herald 

Tribune, 181, avenue Qiaries-de-GauDfi, 92521 NeuiDy 
Cedes; Fiance. TfeL: 74Z0Z29. Tte 612832. 

Yes, I would hke to accept your bargain offer; 

^ the time period and at the reduced price drded on 

t v- COtlpOIL Heeae cairje below the reduced subsaipticn 

TZ priooaotected. Etc ae* subBcabes only. 


HtOM STOCK 

MarcadH 300 SL new n^ol red 
W tr ced w 500 SL new block 
Mercedes 500 StTSEL/iiC new 
and many orhers a: 

CaiUac, Fxnxxi ioguar. Ronge Cover. 
Land Rover, Porctns, Mnrcndw end 
other letring makes. 

Same day reflBtrabon pari^e 

_________ ICZKOVH5 

NEW MERCEDES OorkWroae CH^QZ7Z««h 

POBOC, BMW, Exanc CMS TeL- 01^202 76 14 Tel» B1 5911 


CAftnation 

1M. ■jMni M n e u 
« CN UomHIm MM 
Tefc ffU 1434 . 54205 

t* mr bats on vmms 


FROM STOCK 

for MUtfGMTFdxWy 


RUTE INC. 


10 YEARS 

We Oefiver Cm to the World 

TRANSCO 

Keeping □ conBtrt dock csf more than 
300 band new ears. 


SERVICES 


YOUNG LADY 

PA/htapre»ar & Tourism Guide 

PARIS 562 0587 


PARIS 557 56 09 

SophfaUoded a Educated 

lady Cerapadan 

3B0 SE, SE, SB. 

a am fWua 

TW02U1/7&?I«^PS8Sd 



SERVICES 


LONDON / HEATHROW GATTMOC 
Enort Service Tel 381 06 06 


MONO KONG IK-3J 723 12 17 
Hn itaad campoaon. 


PAMS wri PBSONALBUSBVBS 
Awoonl. Tot B207932 


LONDON - Yatng Caribbean Lady 01- 
724 1859 Airpons Travel 


747 59 SB TOURIST GLIDE. Mportv 
7 am./ndmght. hfltraveL 


TtamwUt. S3, 6000 Franldgrt. mcAlm , 
r Gwm, Id R 69-232351, 8*411559 

2030 Adwerp, Betgmrn 
Tel 323/50 62 40. Tr 3S2B7 TRANS B 






HONG KONG 2-4712*7 youno Wy 
„„ __ (Onenfal/EuroDean] conexnon. 

YOUNG EEGANT LADY young iaoy compamon. ton- 

MULTUINGUAL PAMS: 525 81 01 don/Hetrfirow. W 244 7671 


said. 

“It was eaten up,” he said. “Bak- 
er thinks it’s absurd. He saw it 
didn't do anything.” . 

Last week's intervention, howev- 
er, was different 

Mr. Volcker and Reagan offi- 


organnations stopped that transac- 
tion. 

A continually rising dollar could 
pose risks to the administration's 
fervent commitment to open mar- 
kets. both for currency and trade. 
Ibe president's first-term agrec- 


dals hold that the real way to bring l0 , set up J? r ? ect, ? a ‘ sl 

foreign currencies into a beS ^men, for suj industries as steel, 
alignment with the dollar is by im- lot,a “ “d mouweyda were corn- 
proving the balance of the econo- EE” 1 ** m<m ^ admmistrauon 
mies bound the currencies. ° f 55 ak , Say ^ ^ - 

Unit’s also the view in Europe. ^ ^. doDj ^ v f jn . do ‘ 
Until a few months ago, the »Sv- ^e desnand for pxotectiomm 
emments of Europe billed Md jhen, the admuustranon is redou- 
even ridiculed^conlentions of efforts to force the rest of 

the Reagan administration that its w °ridj Japan and Europe 
economicpolicies, even with their “ “ Wf h^cis 
associated budget deficits, were to rn^om of Uf gMds. 
beneficial foTthe world. Reagan FwaU^pohnalMncemover 

the impact of the dollar, econo- 


•^r □ My payment 


CRataa vabd tbroagb Ajxi) 30, B8S-) 



officials contended that their poli- ™ “F 1 of *“ ® dlar * 
des brought on the UA reaSSy nusts disa^te oyer the damage it 
and thereby created markets for S“ wro VBb t p“ the U^. economy 
foreign manufacturers. by opemng the nation to such an 

The Europeans, however, had of foreign goods and cutting 
contended that the explosion of “ tnto ejqiorts. 
government borrowing that the Certainly farming has Deen tmrt- 
Jefiat s Twnnnwri niwhal nn intmwi Big grain co mp an ie s like Camll are 



and thereby oeated markets for 
foreign manufacturers. 

The Europeans, however, had 
contended that the explosion of 
government borrowing that the 
deficits re quire d pushed up intarest 


rates and those high rales in turn ]osm & ground because their vast 
lured capital from Europe, stifling investments in storage and ship- 


INTERNATIONAL 

ESCORT 

USA 6 WORLDWIDE 

Hood effie* h Now York 
330 W. 56* SI. N.Y.C 10019 USA 

212-765-7896 

212-765-7754 

MAJOI OHXT CARDS AND 


IMPKFUIT + SUMRXMWIOS. ntANKMT > PEIIA Ewort & TrovaJ 
Caiofcn** Ekoti & Iraval wvka. En- Sma. T«L 069 / 6S 24 05 

ZURICH T “ 

r ~ i ‘fK ii'i bcori ft Gtfid# S«rvlca 1 1 ** SnLZ 

Mob 4 T«fc 01/56 96 92 obCVA - HBB4E BCOtT SBVICE SCKVKX. 

Tab 36 19 32 T “ 24565 m. Oadtf cords 


LONDON 

BEST ESCORT SERVICE 
IBs 200 1585 


investment there and driving up the P^S fscflhies in the United States 
dollar. They wanted the deficit cut are operating far below capacity, 
and the dollar driven down. They Many of the jobs in the automo- 

did not want to raise their own bile, steel and leather goods indus- 
interesi rates and thus risk slower tries that were lost in the last reces- 
growth. sion are gone for good, partly 

Bui sow European officials are because of the dollar. But compa- 
laQong of the extent to which their nies in healthier industries have 
export industries have benefited lost U.S. jobs as well, moving oper- 
from the strong dollar. With their ations abroad because of the pres- 
production costs declining in dollar sure of the dollar, and buying matc- 
tenns, European companies were rials and parts abroad that they 
able to undersell their U.S. compel- previously bought from UJL manu- 
itors, both in world markets and facturers. 
the United Stales. Thor soaring It could mm out that all the 
profits have washed through the efforts of Europe, Japan, the Rea- 
econonhes of Europe, pulling them gan administration and Mr. 
from the recession of the early Volcker to move the dollar will be 
1980a. In short, ihdr recovery is for naught. A sounder worldwide 
export-driven, with the help of a economy would mean lower budget 


PBi HIM IB i I IB 1 l| 


;Q American 


□ DmatsChib 

□ Euxocanl 


“’v.n .. r 

if.*! *•: , A • 

3 rs i» 

•* hi 



Many of the jobs in the automo- 
bile, steel and leather goods indus- . i KA . TOBucumMn 
tries that were lost in thelast races- * USA * ™N5WORU) 
son are gone for good, partly A-AMFOtCAhi 

tans imp rtf rho HrtH«r^,.f M-A\mOU^MPt . 



MADRID APPLE 


TB: 2S03496. C8SXT CARDS. 


* AMSTERDAM* 

AF Ewart Swvie*. 227*37 


. ROME CUIB BJROffi ESCORT 
& Giads Swica-TeL 0&’589 2604. 589 
1146 prom 4 pm lo 10 pm) 


MUM. Ft USA 
EXCLUSIVE BCORT SERVICE 
Box 520554 Mini, ft 33152 


BIBWWME YOU ABE OB GOU 

1-813-921-7946 

GJ free from Ui 1J0M374B92 
Col free frm Florida 1400282-0892. 
Lows! btermeebnai you badd 


CAPRICE 

ESCORT SBtVfCE 
W NEW YORK 


AR1STOCATS 

l e w de w Exert Service 

128 Wtgmorn Sl, London W.l. 
Afl moor Gedr Cord* Acceoad 
Tefc 437 47 41 / 4742 
12 noon - midnigh 


OBSEA ESCORT SStVICt 
51 fleaudemp ffcn, tendon SW3. 

Tek 01 584 6513^49 (4-12 pm) 



MUNCH PRIVATE ESCORT SHMCE 
Tel: 089/ 91 23 14 


ETUnOART MBS BEATRICE Exon 
Swvkb. TeL 0711-262 11 SO 


AMSTGUMM, Brmeh, ftaaue, N Eo- 
rope Escort Sonnca. (033906472 



FRAMOI1RT “TOP TW Evart S m- 
wcd. 069/59-4062. 


IONOON LUCY BCSKT & Guide 
SerMtoTet 01-373 0211 


MUNCH. WHCOME Eieort Senna*. 
T«f 91 8132. 


CQUOGMf/HlW/DUSSBfiOKP 

Escort Serwce. 0221/124401. 


^ AMSTERDAM ESCORT 
Gwde Soma. TeL 020)76284? 


nAMOUCT ■ JBMffirs Envt & 

Tnwl Serwee. 069/44 77 75 


strong dollar. 


deficits, and lower budget deficits 


TR: 212-737 3291. ZURICH-GENEVA 


The countries' stock markets could prove just the recipe for an- 
have been rising, signallins resur- other ascent of the dollar. 


of Reagan administration econom- 
ic policies. 

Meanwhile; a Reagan adminis- 


_ _ other ascent of the dollar. LONDON 

gem investment, and their interest “The United States would be in torijunl 

such a strong position without that BBGRAY1A 


2d Edward L T* 736 5*77. 

mist at the conservative Heritage 

Foundation. “If the deficit went ■ mAttraiDT . BC . 
down, all other things bring equal r f*APOknfKI AKcA 


tration that stood back and cheered, the exchange rate of the dollar 
the rise of the dollar as validation would go up." 


Bicfam hfingud escort i enn 
Tek 0 tin a 88 05. 


GMGOn BCORT SERVICE. 
TBsOI/34301 *4-022/3441 8* 


ZURICH 

CAKXW ESCORT SBtVKL 
Tefc 01/253 «1 74 




GWEVA BCORT 

SBtVKE. Tifc 4* IT SS 


GBCVA TOST ESCORT SBtVKE 
hiiwrthe TfcAVH/VWBtBC 
* Stfl STATIONS, mi 3t 49 R7 


GBCVA - BEST 


m 022/29 13 74 


aiARUNEGaOVA 
Guide Sente. Tell 283-397. 


NEW YORK: RENETt Eieort Sera*. 
Tet 212-681-1948. 


HAMBURG BCORT 

Semce. Tit Si 17 42. 


WWWNJWVATE BCORT Servro. 
Tab 4Q2 7389. 


vg^Erati escort 



TeL 01-373 8849. 










































































H* 


Page 14- 

■ 

a 

a 

m 

ii 




H 




r 



■i 




u 

B 

II 

B 

H 

■ 

■ 

■ 

H 

■ 

■ 

■ 

H 

■ 

■ 

■ 

« 

■ 

■ 

■ 


INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH A, 1985 


PEANUTS 

IT SAYS HERE THIS 15 

the tenth annual 

«*TlklL/ -T «Ti» (I 


I HATE BEING CALLED 
A '’TINY TOT". 1 



Unscramble these lour Jumbles, 
one tetter toeach square, to tom 
tour ordinary words. 


LAVNA 


JQL 



GIJON 


JQL 

Q 


BOOKS 


SITTING IN DARKNESS: 
Americans in the Philippines 

By David Howard Bain. 464 pp. $24.95. 
Houghton Mifflin, I Beacon Street , 

Boston, Mass. 02108. 

Reviewed by Murray Sayle 

I N wbiefa war was the term “Cook” invent- 
ed? When did U. S. soldiers conduct their 
first body count and pioneer the use of the 
“water cure' 1 to persuade Asian guerrillas to 
betray ibex comrades? 

After which battle did a young rifleman 
write home to the folks in Kingston, New 
York, “I am in my glory when I can sight my 
gun on some dark skin and puD the trigger”? 

Modem as it all sounds, the answer is not 
Vietnam, or even Korea or World War EL Tim 
U. S. conquest of the Philippines barely rates a 
mention in school history books, usually as a 
cryptic footnote to the short war which Presi- 
dent William McKinley and publisher Wiffiam 
Randolph Hearst waged on Spain in 1898 for 
the independence of Cuba ana the drculaan of 
Heaist's newspapers. Yet 126,458 Americans 
fought in the Philippines between 1898 and 
1902, of whom 4.234 died, while 16,000 FDipt- 
□05 died in battle and another 200,000 in 
“reconcentration camps." There were in addi- 
tion massacres of civilians in reprisal for guer- 
rilla attacks and similar sideshows all too fa- 
miliar in subsequent Asian wars. 

Thest 
liberated 
look the 

two weeks later is a complicated one, already 
wdl told in one of the classics of American 
historiography, Leon Wolffs “Little Brown 
Brother,’' published in 1960. But the writing of 
history is never finished, and David Haward 
Bain has managed another fine bode cm the 
subject, not disagreeing with Wolffs conclu- 
sions, but making them fresh and vivid for a 
generation which has seen yet another Asian 
war. 

This is not. however, simply another tale of 
savagery in the rice paddies. Almost as if he 
could read tomorrow's newspapers, Bain has 
brought his acount up to the minute, with 
perceptive entries, for instance, indexed under 
Aquino, Benigno and Ver, General Fabian (the 
latter currently on trial on coverup and com- 
plicity charges in the former’s assassination). 
This energetic young historian has thus palled 
off that rarest of publishing coups, a scholarly 
historical work of bang-on topicality. He has, 
what’s more, found a most original way of 
bringing his story to life. 

From this distance, and even at the time, the 


Solution to Friday’s Puzzle 

FeTbI 


GQE OE3EH3D 0B0B 
D0D 03000 E300Q 

doe 03300 0000 
BDDOQQan 
□□as 

□ aa 

naa 
0003033 

EE □□□□QQ □□□□ 

ehhs aa 


□ 

D 

0 

□i 

E 

D 

S 

□ 

□ 

E 

a 

□ 

E 

Q 

h 

B 


10 

a 

□ 

0 

HI 

a 

B 

n 

s 

0 

□ 

0 

□ 

a 

□ 

0 

□ 

□ 

□ 

0 


10 

a 

n 

0 

a 

a 

0 

□i 

a 

a 

□ 

al 

□ 

□ 

0 

01 


conquest of the Philippines has al- 
ways been difficult to fathom. But. then and 
now, two figures jump forth from a cast 
thousands: Emilio Aguinaldo, not quite 30, 
brave and passionately patriotic, the president 
of the republic of the Fbilippmra prodahned as 
the beaten Spaniards departed land ike first 
republic in Asia) and Colonel Frederick Fun- 
ston. six years older, who drove the last nail 
into the republic's coffin by capturing Aguinal- 
do on March 23, 1901. after a long and daring 
hunt through the jungles and mountains of 
northern Luzon. , , . . . . 

Aguiaalda, who looked remarkably like his 
current successor. Ferdinand Marcos, survived 
his capture and lived a long life, long enough to 
welcome the arrival of the Japanese in 1942 
(understandably, perhaps; the new invaders 
also promised liberation), to march in the Ma- 
nila independence parade of 1946, carrying the 
Dag he first raised against Spain in 1896, and to 
see a new American war just getting underway 
in Asia in 1964, the year of his death. A , largely 
forgotten figure now, even in the Philippines, 
Aguinaldo emerges from Bain's book an au- 
thentic hero and bis republic a tragically 
missed chance for the United States to have 
been the protector of Aria’s first genuine de- 
mocracy. 

His raptor, the adventurous son of a Kansas 
politician known as “Foghorn Funston, the 
farmers’ friend" was plainly jus: as archetypal 
a figure. “I am afraid rhai some people at home 
rf tie awake nights worrying about the ethics 
of this war, thinking that our enemy is fighting 
for the right of self-government" he told a New 
York Tones correspondent. “The word inde- 
pendent, which these people roll over their 
irmgiu*: so glibly, is to a word, and not 
much more. . . . They are, as a rule, an. illiter- 
ate, semisavage people, who are waging war, 
not against tyranny, but against Anglo-Saxon 
order and decency. 

It is hard to quarrel with Bain's conclusion 
that the years of American rule did little or 
nothing to solve the basic political problem of 
the Philippines. After three centuries of Span- 
ish colonial government, the islands had none 
of the institutions of self-rule and no experi- 
ence of it. All the new rulers achieved was a 
superficial Americanization of the ilhtstmdes, 
the Hispanirized native upper class, leaving the 
masses m pious poverty and the way open for a 
native-born dictatorship to follow the authori- 
tarian rale of slippery Spaniards and decent 
Anglo-Saxons. People learn self-government 

hy gove rning <ha»n« fllws and making thwr own 

mistakes, and America pot off the Philippines’ 
fateful day for 50 years, failing, in the end, even 
to supply the military protection that is the 
only justification for empire. 

But Americans are still wdl thought of in the 
Philippines, as Bain and a group of friends, 
including his photographer-brother, Christo- 
pher, discovered whim they repeated Funston’s 
trek through the Luzon jungle in 1982. talking, 
to some of the same locals, fording the same 
streams, and bang bitten by descendants of 
the same mosquitoes which bit the adventurer 
and his party 80 years earlier. Melding past 
and present, and interweaving the historical 
backgroun d with present politics brings vividly 
home the long shadows still cast by the United 
States's first adventure in Asia. This is an 
important story, honestly researched and well 
trad — a second classic, m fact, on a fasemat- 
ing subject , 

Murray Sayle is an Australian journalist who 
covered Vietnam firm 1965 to 1975 far The 
Sunday Times of London. He wrote this review 
for The Washington Post 


BRIDGE 


By Alan Truscoct 

O N the diagramed deal 
South landed in five 
hearts after a slight confusion 
in the bidding. His four-dia- 
mond bid was intended to be 
natural but was interpreted by 
his partner as a splinter, show- 
ing at most one diamond. 

The opening spade lead was 
won with the ace in dummy, 
and South had problems m 
both red suits. The normal 
play in hearts consisted Of the 
ace followed by the queen, set- 
ting up a marked finesse 
against East if that player hap- 
pened to hold J-x-x-x. the nor- 
mal play in diamonds was a 


first-round finesse, protecting 
against the chance that East 
held all three missing cards. 

Unfortunately the lack of 
entries to dummy trade it im- 
possible to make both these 
plays. South, had to decide 
whether to ptey the hearts safe- 
ly or the diamonds safely. The 
due lay in the bidding. 

Since East had opened one 
dub and raised spades it was 
highly improbable that be held 
three diamonds so the effort 
was made in that suit Tramps 
were drawn in three rounds, 
ending in the dummy, and a 
diamond was led to the ten. 
This proved to be^vital and 


South was proud of his analy- 
sis. 

" NORTH 
*AJ4 
OQ72 
OSS4S 
+ Q62 


EAST (D) 
* K 19 83 
<734 
9 KQI 
<•> A J 9 8 


WEST* 

• Q 97 9-3 I 

Z*j 3 m 

* X 10 7 3 4 

SOl/rtJ 

♦ 5 

OAK18I9 
O AJ1B733 

+ 3 

Both sidet were vnbKnbte. The 
(ridding: 

Em . Saudi W ml Nank 

1« 19 1 A .15 

24 4« 44 -SO 

Pmb - Pan Pmb 

- West lad the qwl a six. 


ENBODY 


n r 

hn 

FEAN ED 


□z 

t h 

Araer a[XH 


S / 

PEOPLE WHO ARE 

Always flyin© 

INTO A RASE 
SOME TIMES ENC? 
UP MAKINC& THIS. 

Now arrange dw circled letters to 
torm me surprise answer, as sug- 
gested by the above cartoon. 


Greece Bans 6 Athletes Over Doping Strawberry, 

Mets Agree 
On Contract 


SPORTS BRIEFS 


Friday’s 


Jumbles BOUGH FLUTE 


(Answers tomorrow) 
NOGGIN UPWARD 


Answer How the astronaut's wife was always happy 
to see him— "DOWN & OUT" 


WEATHER 


EUROPE 


HIGH 
c f 
16 61 
6 43 
10 SO 
17 63 
6 43 
6 43 
S 46 
34 


LOW 


Aieorve 

Amsterdam 

Athens 
Sarcehma 
BetenMK 
Berlin 
Brussels 
Bocnarrst 
Budapest 
Commhaoeo 
Casta Del Sal 
Dublin 
Edinburgh 

Florence 
Frankfort 

Contra 

Helsinki 
Istanbul 
Las Palmas 
Lisboa 

London 
Madrid 
Milan 
Moscow 

Munich 

Nice 
Oslo 
Parts 
praoae 
RcykktvDi 
Romo 

SI ockti aim 
Strasbourg 
Venice 
Vienna 
Warsaw 
Zorich 
MIDDLE EAST 
Ankara -5 5 

SotroT 1J * 

Damascus 9 a 

derasatom 
Ter A*<« 

OCEANIA 

Auckland W 75 

Sydney a n 


46 
37 
48 
50 
34 
g 32 

3 37 
1 30 
1 14 
0 22 
» 43 

4 39 

1 34 

2 36 
1 34 
4 25 
0 16 

28 

S« 

46 


ID 


41 


ASIA 


Bangkok 

Belling 
Hong Koag 
Manila 
New Delhi 
Seoul 
Shanghai 

Singapore 

Talari 

Tokyo 

AFRICA 

Algiers 

Cairo 

Cope Town 

Casablanca 

Harare 

Loans 

Nairobi 

Tunis 


HIGH 
C F 
33 91 
3 37 
31 70 
33 91 
39 84 
B 40 
B 46 
30 86 
22 72 
15 59 


LOW 
C F 

20 68 cl 

-4 25 a 

IS 59 r 

33 73 lr 

14 57 fr 


IS 59 
13 SS 
20 68 14 
IB 64 7 

29 B4 19 
31 BB Jo 
26 79 15 


3 37 


15 59 

LATIN AMERICA 
Boenot Aim 

Lima 

Me den CHy 
Rio ae Janeiro 
Saa Paula 


X 86 IB 64 tr 

22 72 13 SS cl 

28 83 6 46 tr 

39 B4 22 73 fr 

— — — — na 


NORTH AMERICA 


It 61 


■ 30-18 
6 43 
-3 37 
■ 2 X 
3 J6 


17 63 
IS 59 


Anenoroga 
A Won to 

Boston 

Chicago 

Denver 

Detroit 

Monotv hJ 

Houston 

Los Angeles 
Miami 

Minneapolis 

Montreal 

Nassau 

New York 
see Francisco 
Seattle 
Toronto 
Washington 


■13 10 
10 X 
-4 X 
I 34 
-7 19 
■ 4 X 
21 70 
10 61 
0 43 
19 66 


-7 

... 3 16 r 

79 16 61 It 
J9 - 2 38 fr 
59 9 d fr 

52 4 99 PC 

4] 0 33 PC 

45 I 14 fr 


d'etoudv- te-toggy; tr-talr: h-hail; n g-not owilabte; povorcosl; pc-partlv 
cloudy: -rofn: sMhowers; sw- snow: st-storm y. 

T-^^e - ^' - S9. MANILA? Fwr. Temp 3S- 33 190 - 73J. SEOUL: .Fair. 

It : W-Si:SmoAPanii Mrirtmo. r>-u «6- ts>. Tokyo: 

Fair. Temp. 14—6 157—431. 


The Aixonaicd Pros 

PIRAEUS, Greece — Six of the 
10 Greek athletes set to compete in 
the 16th European Indoor Athlet- 
ics Championships failed doping 
rests and were banned from paniri- 
patirtg In the two-day event the 
Greek Amateur Athletics Federa- 
tion said Saturday. 

The five men and one woman 
withdrew from the championships, 
overshadowing the competition. 
Several of the athletes denied the 
charges and said they would file 
law suits against the federation. 

"They were banned because 
there were strong indications of the 
use of forbidden chemical sub- 
stances,” George Katsimbardis. 
president of the federation, said 

The athletes underwent doping 
tests at Athens University two days 
ago. If final results of the tests 
prove positive, they could face a 
lifelong ban from competition, of- 
ficials said. 

Dimitris Kattis. a high jumper, 
rejected the test results, saying he 
was “disgusted." “I had a problem 
with my blood pressure but the 
only drug I took was aspirin." he 
said. 

Diraims Kout&oukis. j shot-put- 
ter and a student at Washington 
State University in Pullman, said 
he never would represent Greece 
again. “This is all ridiculous,” he 
said. 

Last year. Greece's European 
champion javelin thrower. Anna 
Verouli. was banned from competi- 
tion for two years after rests taken 
at the Los Angeles Olympics 
proved positive. 

The conservative opposition 
New Democracy pony called on 
government sports officials to re- 
sip. “Today's scandal exposes the 
country internationally and is a 
heavy blow to the athletic ideal and 

Olympic spirit/* the statement said. 

in the competition, Todd Ben- 
nett of Britain set a world indoor 
best for the meet Sunday with a 





Galina Chistiakova of the Soviet Union sails to victory in 
women's long jump, leaping 23 feet 1/2 inch at the 
European indoor track and field championships in Athens. 


timing of 45.56 second* m the 
men's 400 meters. Bennett bettered 
the previous mark of 45.60 set by 
East German Thomas Schoenlebe 
Jan. IS in Paris. 

Eosl Germany's Mania Koch 
cruL-ed to her expected victory in 
the women's 200 meters in 2X82 
seconds, 

Agne.se Pcssomai of Maly was an 
equally convincing winner of the 
-■>,000 meters over the Soviet 
Union's Olga Bondarenko in 8 
minute' 55.25 seconds. 

Steffano Tilli won Italy's second 
gold in the space of 15 minutes with 

kJiMering 200-meters victory in 
-0.^7 seconds, a championship re- 

On Saturday. Czechoslovakia's 
veteran shot-putter Helena Fibin- 
gerova won the shot pul with a 


heave of 68 feel, 4\i inches (20.84 
meters} to give her a career-record 
eight gold medals in the European 
Indoor Championships. 

Galina Chistiakova of the Soviet 
Union took the gold in the wom- 
en's long jump, leaping 23 -Ci't to 
edge Czechoslovakia's Eva Mur- 
kova. who jumped 22-1 J la. 

High jumper Patrik Sjoeberg. of 
Sweden, cleared 2.35 meters (7-S'ij 
to lake the gold, ahead of Alexan- 
der Koto vie of the Soviet Union 
and Dariusz Biczysko of Poland. 

Mike MacFarlane became the 
Jirsi Briton to win the 60-meter 
>pnnt tide. He improved the Brit- 
ish record twice and took the gold 
in 6.61 seconds, two-hundredths 
ahead of Antoine Richard of 
France, with Ronald Desruelles of 

Belgium third in 6.64. 


He* York Tima Semee 

ST. PETERSBURG, Florida — 
Darryl Strawberry has agreed to a 
long-term contract with the New 
York Mets. 

The terms of the contract were 
not disclosed, bur it was believed to 
ran for five years with a set of 1 
annual raised incentive bonuses 
and deferred payments that could 
total as much as S4 million. 

Strawberry, 23. the rookie of the 
year in the National League in 
1983. was called up by the Mets on 
May 6, 1983. He ended the season 
with 26 home runs, raised his aver- 
age to .257 and knocked in 74 runs. 

Last season, he had 26 home 
runs. 27 stolen bases, 97 runs bat- 
ted in and an average of .251. 

■ Warning on SpitbaDs 

Charles S. (Chub) Feeney, the 

president of the National League, 
has issued a stem warning about 
spitballs to the Chicago Cubs, the 
Associated Press reported. 

Feeney was responding to a stray 
in the Chicago Tribune in which 
Bill Connors, the Cubs' pitching 
coach, advocated the use of the 
spiiier jus a last resort to certain 
pitchers who are not effective 
throwing legal pitches. Feeney 
threatened the Cubs with "fines 
and suspensions" if any pitcher is 
caught throwing spitballs. 

■ Comment on Strike 

The National League player rep- 
resentative. Kent Tcfculve. says ma- 
jor league club owners are making 
"a major mistake'* if they believe 
the players won't strike again. 

Tekulve said the 1981 strike, 
which lasted nearly two months 
and was the longest. in the sport’s. 
history. should have proven that 
“Lhe players will stick together.’’ 


Couples, Strange Tied for Lead in Golf 

CORAL SPRINGS, Florida (AP) — Curtis Strange and Fred Couples had 2- 
under-par 70s and remained in a tie for the lead Saturday after three rounds of the 
Honda Golf Classic. 

The two, who had shared the lead after the second round, completed three rounds 
on the Eagle Trace Club course in 201, 15 sfaot^unde^ par. At one time or another 
during the da/splay, each held the lead alone. Strange was two ahead with four 
holes to go, but Couples birdied the 15th and dosed to within one. Strange then hit 
his second shot into the water on the 16th and had to make a 12-foot putt fra even a 
bogey that dropped him back into a tie. 

Don Pooiey, who scored an eagfe 2 on his way to a 70, was third after the round, 
four strokes off the pace at 205. Dave Barr, Mute Bright and Wayne Levi were at 
206. Barr and Levi also had 70s and Bright had a 73. 

Fiutie Leads Generals Past Renegades 

ORLANDO, Florida (AP) — Doug Fiutie threw for Four touchdown passes to 
lead the New Jersey Generals to a 2 8-10 United States Football League victory over 
the Orlando Renegades Friday night 

Three of the passe by the framer Heisman Trophy winner went to wide receiver 
Clarence Co Urns and the fourth went to tight end Sam Bowers. 

The victory was the first for the Generals this season. In Flutie's pro football 
debut last week in a game against the Birmingham Stallions, he completed 12 of 27 
passes, throwing for 189 yards and two touchdowns, but had three interceptions 
Against the Renegades, Fiutie was II of 24 passing for 191 yards, 

Pedroza Reportedly Shoots Intruder 

PANAMA CfTY (AP) — - Eusebio Pedroza, the Woijd Boxing Association’s 

car and was 


:• 



Santiago dd Rio. the manager, «uu un« it* oil woh ttiipi UJ me ra fw qj y j gy jp y / gv 

home on the outskirts of Panama Gty. The man tried to escape, dd Rio said, and 

Pedroza fired a warning shot into the air and shouted at him to stop. When that 
failed, he shot the man m the leg, del Rio saidj 
Pedroza lore a muscle in his right leg while running after the intruder but was not 
senoraly injured, his m a na ger said. The injury should not interfere with Pedroza’s 
next defense, in May against Barry McGuigan of Ireland. 

Sly Defeats Buddin Arizona Road Race 

, *J? 0EN DC, Arizraia (AP)-— Weady Sly.a sHver medalist for Great Britain in the 
3,000-meter runaUhe 1984 Summer Olympics, defeated Zola Budd Saturday in the 
women s division of a 10-kilometer road race. " 

It was Budd’s first race in the United States since the Los Angeles Olympics. 
where she cofoded with Mary Decker in the 3,000-meter race andfimshed seventh.. ' 
Sly stud she has trouble understanding the publicity surrounding the South 
and SysakL * now a British arizen. “She’s ]ust a taientedlg-year-oid 

, “Eyeryone'shanging medals around her neck. Ninety-nine percent of the peoole 
think Zola Budd won a medal in the Games. I fed Sony for [Markka] PukajSnh 


f 


i • * 


4 x 


•1 


} if-: 


• w-r;- 


1 i 






m 






if'-: 


•Asa 

% 

;.i- 

•*j>. 


A! 




INTERNATIONAL HERALD TRIBUNE, MONDAY, MARCH 4, 1985 


Page 15 





«* h 4 f k; hJ&t 


SPORTS 


- ^ ^ : : ; -^^ittk-Known Skiers 


^ Cup Races 


Mrt', 4X ^ 


*P<n3\ 


hun*. thi ..u..}/ ‘’I j( k . t The Associated Press ish was sixth at Wengm in 1984, 

imntatn I u. Vi: ,u:, Sta u^URANO. Japan —Two unher- attributed his victory to the better 
ni . skiers, Steven Lee of Austra- mow conditions when he started 

n " n ‘ “• rft[ u. and Daniel Mahrer of Switzer- 43d, “I just skied nice and clean but 

, ''Rjiy i?v i raced to a first-place tie in a the weather cleared up and that's 

wvU-i 


^«pt»n- n u » j,' * jT^i, raced to a first-place lie in a the weather cleared up and t 
the an a ,i J l l ‘ n V- lif r pant slalom ski race Sunday, why J got quite fast." he said. 

'liv J^fing the second straight World Co-winner Mahrer, 22, sai( 

* m.in,.. .... ..'rib,, imfar ,i Piinnn course condition nnc “ih. 1 


i.ha., ^ F “’“L 


iundmi 

als»« ptt>njis,.^ 

mb inth-iv!UK "!?.? ll|, ’ ,r, i.iZ. l l?J9e'*u‘* Mahrer started late in 
Hag lie tarsi - „ " ,i[ j^: 66-skier field, after a snowfall 

-w n in :» \i| ln J f ,,M tM Sjvjij «. stopped, and both finished the 
I!1 Am.iu, |‘Kj Hj| JUHta?* of sweeping 

•«JWlin hnne*;.;,;^ •< h^..*nhin plungaes m 1 

AgainaUU- c« w ./.^ ,_ lv oi , n 3* wds. 

, hn.. aid 

P^Wd chaiK-c !,i| 


curves and 
nrimite.3136 


said the 

courae condition was “the best” 
when he started 27th. “I was only 
hoping to finish in the top 20" lie 
said. 

Canada's Brian Stemmle. 18, the 
No. 64 starter, also achieved the 
best finish of his ski career, fimsb- 


(hcnitc hri C ! ,M!? ^. fr * ,n > ibm1i 131116 0116 ^*y after ing third in 1:31.64. 

J ^ 5 <taada , sTndf1 Brooker hen favor- Olympic downhill 


hi. 

ll 


rcpyL^ ^oada's Todd Brooker beat favor- 
I i> from Austria and Switzerland 


hern ih,. nr . V u '*v from Austria and Swt 

■" Oil** WdHd Cop downhill 
us &ano, on Japan's north 
noiitn. ?! ‘ 4,, '«--niui Wh _ n island of Hokkaido. 


race at 
northernmost 


Olympic downhill gpld medalist 
Bill Johnson was fastest among the 
seven Americans. He finished 13th 
in 1:32.71. 

On Saturday Brooker held off 
Sepp Wfldgniber of West Germany 
by more than one-half second. 

Brooker, 25, whose best previous 
finish this season was a third, broke 


fimkw'f k,1, r ,ls "Kw'fc'i^t.wiss superstar Pinnin 
‘f . . .!r icn *f plji n |. ^ k. who ranks second in ovenm 
ie-.;u.,V‘- . 1 f ni nun standings, fed victim in Sun- 
J ,' Kl K vvofr- ^W/ssupergiaatslalcimlogaieNa — 

, *"' s u,,r - thinkiT'..' ij,,, which he missed along with four out of his two-season slump by cov- 

iiu Hu- nglu of .■h.-Ii lt 1 racers, including Brooker. ering the 2^50-meter (9,678-foot) 
viirk linu's Ciinevp,,.. i™* 01 Marc GirardeUi ^Luxembourg, Furano cause in 1 minute, 55.62 
pendent, winch current leader in the men's 

longucN so glihh i , hi ’j' le "4 rid Cop pant and super pant 
much iiu ir c tin--, standings and the overall 

,iU\ scmisav.ice hidings, finished 46th in 1:34J88. 

not against t\unn\. h u '. ^ * i.unday’s results produced no 
order and deveru > : ^iges in the overall standings. 

ll is hard u> j U , rr ..| u . ee, 21, whose best previous fin- 
thal the years ,-i ‘ w 
nothing to >.*W C t \ k . h - 1 '® Mef 
Ute Philippines \f kT lhrc JjS 
| sh colonial giucrsineni 
« ,hc | nsti;utu»n> ,»f xHf-rT.u 
cner of it. Ail the n™ iS 

superficial A tn env^,u.r 

the If iquntcuiM njitrr upper 

mast's in piouv pou-ri\ and ^ 
native-born dKt.iton.hm to ml* 

S n ?‘ k ‘ l ‘‘ v, l ‘ rrcn 

Anglo-Saxon.-. !V*. r k- i e ^ 

h> governing thein-'cK e- j n d 

muiukcs. and A menu put 
fateful d.iv for >ti tears fjilLnemd 
Uv supply the uuliurv pr^aiiai 
only juMificatiun f-r empire 
But Amcneatis art Mill kellt^ 

Philippine*;. Bail: and 3 . 
indtuiing Sun ph.*:.xrjpht^ 
pher. discovered »v!ier thc\ ri 1 
trek through thi l uj.-n mnzlc 
to Mime o! the Iocj!>. (o 
stream!., and Ivme. Nucn K 
tlw Mine ni.Nmti. whuh hi. 
and lus pari\ SC ve.irx earlier Mi 
and present , and ir-:omc.t\ing ile- 

haikfiiound uuh I'u vnt rulitu M jh f i .■»»— 

home die l“nu siud.-.\ - -til! ^hirARFRI] ADD 

SlatCv'v firs! .ids cm sire m 
iittjHtrt.mt Mciv. ia-iu-.tl* ii-joiAl 
toisi — a sec. in.: J..*-!. m fa.t.oai 
iiig sul'jvvi 



Tpdd Brooker 


seconds. Wildgrubcr was docked 
in 1:56.18. 

Bruno Kernes of the strong 
Swiss team took third in 1:56.35. 

Girarddli tnadw his fim down- 
hill start in two years and finished 
19th in 1:59.70. Bat Zurbriggen 
failed to take advantage, finishin g 
in 29th place and remaining 33 
points behind GirardeUi in the 
overall standings. 

In Va3, Colorado, on Saturday, 
Austria's Katrin Gutensohn 
stunned the favored Swiss by win- 
ning a World Cup downhill race. 

It was the first World Cup vic- 
tory for Gutensohn. 18, who tied 
for the do wnhill silver medal at the 
World Cha mpionship s las t mor^ h 

Guieosatm’s time of I minute. 
47.95 seconds was a half-second 
ahead of that or Switzerland’s Bri- 
gitte Oertli, who was clocked in 
1:48.43. Maria Walliser, another 
Swiss skier, was third in 1 : 48.57. 

Canadian*; Laurie G raham and 
Karen. Stemmle were fourth and 
fifth, respectively, in 1:48.77 and 
1:48.87. while HoUy Flanders of 
the United Stales took sixth in 
1:48.96 despite almost falling. 

Heavily favored Michda Figini, 
the World Cup overall and down- 
hill standings leader, did not finish 
her run. 



Irish Ruggers Tie French; 
Welsh Hold Off the Scots 


Th> AmoocmI Prt» 

The ball becomes difficult to find during the match in Edinburgh, which 'Wales woo, 25-21. 

Proud Truth Does His Father Proud 


By Bill Christine 

Los Angela Turns Service 

HALLANDALE, Florida — 
Graustarit is considered to be one 
of the best horses that never made 
it to the Kentucky Derby. In 1966, 
nine days before the Derby, Grau- 
staik broke down in the Blue Grass 
Stakes at Keendand. still finished 
second in a heroic performance, 
but never raced again. 

On Saturday at Gulfstream Park, 
a 3-year-dd son of Graustark. 
named Proud Truth darted be- 
tween Irish Sur and Banner Bob 
with less than 70 yards to go and 
won the $300,000 Florida Derby by 
a neck, stamping himself as an ear- 
ly favorite for the Kentucky Derby 
two months from now. 

[In the race immediately preced- 
ing the Florida Derby, Chiefs 
Crown, the 2-year-old champion 
for 1984, made his debut as a 3- 


year-old with a 3f£-lengih victory 
in the Swale Stakes over seven fur- 
longs, The Associated Press report- 
ed.] 

It took Proud Truth most of the 
1 14 miles of the Florida Derby to 
find his best foot, but from just 
past the eighth pole to the wire 
there was uule doubt about the 
outcome. Banner Bob. the leader 
after six furlongs, faded to fourth. 
Coven Operation, second behind 
Banner Bob going into tbe lane, got 
squeezed by Proud Truth and Insh 
Sur in the stretch, but appeared to 
be finished anyway, and wound up 
fifth. Irish Sur was second, a length 
ahead of Do It Again Dan. 

The disappointment for the 
32,609 fans was Stephan's Odyssey, 
who was sent off as the even-money 
favorite: Winner of the Hollywood 
Futurity last year and second by 
only a neck to Proud Truth in the 


Fountain of Youth Stakes on Feb. 
IS, Stephan's Odyssey had good 
position throughout Saturday’s 
race. But he lacked a during kick 
and finished sixth. 

The fractions were 47 3/5 sec- 
onds for tbe balf-mile, when 
Mighty Appealing held the letd. 
and i :37 after a mile. Jockey Jorge 
Velasquez maneuvered Proud 
Truth between horses on the far 
turn, then brought him from the 
rail to the outride midwav through 
the stretch. 

Jockey Eddie Maple, who has 
never won the Kentucky Derby, 
was disappointed with the way Ste- 
phan's Odyssey ran. 

"The time stinks, everything 
stinks,” Maple said. “We were in a 
good spot. I got clear going into the 
turn, but then my horse had noth- 
ing left. He was finished by the 
eighth pole. Th3t’s pretty early." 


Basketball 



JWw»,7V .\.;i 
nWi’u 1 2 >. 
SmuLv Try. . . . 
f»Tht 


\ !l‘ if u.,u r i£T, 

: : vni !■■■ I r 

/jV !•'>*’. 


A Standings 

EASTERN CONFERENCE 
AifeMTic DMdn 

W L ft), GB 

47 13 

•IpMu 46 U 

ersev 30 3? 


5GE 

rtC. pftuexiiu*: 
iht that l .!M 
using cards 

f ihir lari* *4 
iy nude tl no- 
te IhwIi i.Vv 

ad tO dciliii' 
Jteheari-sMic- 
idhMiVh Uk- 
iddiny 

d opened oik 
spado, it »j* 
Ic that he held 
m» the etfui! 
i suit. Trump' 
ihrw rounds, 
ummr, and 
d w the ten 
he vital, and 


•a- 


'or* 

31 38 
20 41 

-508 

.328 


Central Dhrtefoa 


IlkH 

41 19 

.683 

t 

b‘ 

33 26 
27 31 
25 35 

-SW 

-446 

A17 

. prmij'ana 

23 37 
19 40 

-383 

-322 

WESTERN CONFERENCE 
^ MMamxt Division 

• We 40 21 JM 

Cm 35 34 593 

I5i: 

32 28 

.533 

* 0!, atonla 

30 31 

.492 


28 32 

M7 

6 City 

19 40 

30. 


Pacific Dlvtotoa 


atari 

43 18 

-70S 

lx 

29 32 

ATS 


27 33 

450 

T 1 1 

Stata 

26 34 
22 38 
16 44 

433 

-367 

XT 

chnri PtayaH tartti) 



jb — 

JtO » 
am i4ft 
lift 
27ft 


7ft 

n 

» 

» 

2!ft 


7ft 

10 

lift 

H 


14 

15ft 

Uft 


iic:. 

Ii.l.lir., 

: * 


■ i Jr, 


sooir 


-ii 



’S BRIEFS 


FRIDAY'S RESULTS 

as as ii 
i as at at n— n 

Mhffl M-24 M 34. Gilmore 11-20 M 30; 

•»U-I7 44 2R Lolmbeor 8-16 CMlli. Ra- 

r r Soo AntORlo 40 (Gilmore 14J. Datrett 
fvinrtan 10). Assets: Sen Antonio 20 
fi 71. DelTim 72 IThomos tSI. Tertol 
20 S3 2S 22— HO 
27 24 21 23— SO 
H-23 10-1332. Oawddns 7-14 3-3 
Mnsen 7-13 4-4 UL Motor* 0-18 1-4 17, 
nr *044 17. Dove 7-83-4 17. Retaonds: 
mev52(B.WIIIIam8l3l'MMilnpt0n49 
non 111. Anistv. Now J«wv M IRIeh- 
* Runsey 4). WadUnoion 23 (Gus Wli- 
■>. 

i 27 30 22 JS— 118 

27 21 32 75 — ItS 


„ . J • . I JW I,S 1S-29 M38. E. Johnson 11-18 12-1534; 

Irtd I pilfi Ilf '7 U "-J2 o-W34.Pori»li Ml 4421 D. Johnson 

ICU rt” lAt - ^ 31 Ulwnft: Atlonto 44 (Rodins WJ, 

, . -;i.l huv' ^^lMcHatoni.AttNIsiAltonloMtE. 

4 — I u: r> Ml- 1 • , [nn ,r:-n 1S», Boston 24 (a Johnson 0L 
for die iCJi! 5.i f*':— 1 ' r m 17 2s * is-mi 


M 48 24 24 H— M8 


. 15-20 3-3 3L NaH 11-177-829; Asulrre 

1 ‘i ,..|fllt1-a44.: 


ifrcr (tie vxi'ni 

11. 1* vt*..*!' us lid >’• 1 


, , , |U- — — Porttln* Blackmon 0-20 7-7 25L 
u. '»*« Oermr 41 (Goopsrlfl. Dallas 51 
, . , , c, 1 -.I- »w. *»Wi: DWiverao (Evans «. 

irui an*™* , lin sjiJd idovisii). 

UlhaudvH -dJ M‘V‘ " : . v :«r« 27 si 17 »-um 

Idhandtud ‘ L.wJLZSJX 

IK* , .jjjCMl >4 41. CummlnosMa3-4 21. Re- 

' ' 1 New York 53 tCumm hiss 12>,OiKo- 

Assistf. Now York 25 ICOr- 
28 (Jordan 101. 

X 22 35 IS— Ilf 
21 X 33 X— 115 


' «M* ft" \iV“y , v/.V.t 

<V Hat*. M'-kt h' 1 ; • Chteosesi 

Bright h.ut .1 ‘ 

« f 7 f » l 5-7 Otaiuwon 11-23 44 26: 

jjJjj} 11 * 1 -' - . Mo 472* Gnon 4-10 M aa R oBowhN: 


ji'lli 


j? (Otahmon 151, Utah 44 (Eaton, 

s 71. Assists: Houston S3 (Hollins tl. 


leum-in Inrh' *' . 

( UUiithi e«.J li.:!:- 1 J lul ir' 


4 

tilt’flllAl NU>> s 1 '• >M 25 » 36 21—111 

.mIU'- 6 ^ X 20 31 20—183 

, 111 -' pj-2S302f, Hinson 4444 14; Drexler 0- 

tPawnn M734 17. VOmtoweoito 7-183- 
... f .VtWB n di ; Ctowtond S7 (Hinson, Po- 
Pnrttand 58 (Bowie Ml. Assists: 

U«1 1|liuhlll , rt 1 >'-- ''^j V1 »a* SATURDAYS RESULTS 
l of 2* r.lVI'U- ‘ . 34 M 71 20—100 

. .Jpf !** 22 31 M 21— 17 

CiJ _ B - I rfi** 1 ' 5* 8 n - a S* 37, Ballard 10-14 2-2 22; 
I* S|lOOi> ‘ M * Sparrow 7-tS 44 18. Rn- 

■ k | 'tl *tadilnaton 53 (Robinson Tl>. N4W 

. J ho'y (King ll). Assists: Washington 97 
Now York 3b (Sparrow 7), 

M 22 20 28-MS 
£.*■•* 28 15 24 25-02 
Vi.tr dli - ! >’■ * Jf! i“ J** W-U 26, Mitchell 12-22 1-t 2S: 

• rt 8-M 26. Johnson M0 M 2R Bto- 


*» Pain*.-.:. 

hcilw«Fto"* ,s ' ! ,'»»*«' 

». h « % ,,u,w " r J’.'.m.: 

5 Ihc **■'' ' , , , Ml 26, Johnson MO 2-7 

\ Fltf m.«l l ,: "* " U y' v - 2?«Anlanto44(GllmorBl2). 
• r‘id shriiK'-i J»«lL Assists: Son Antonio 23 

1 u „ I «&*** * 151. 

Ktu sJid , u ., UM 

c whilr ntnm"' ...rirt 1 * ™ 24 

C it,,, vti.Rliti U*' 1 "• m * f » IH4 54 27. SI kmc 

lie ulim > s '-r, . m 54 23. williams %: 

itiit!£.tn.’i ,n$ 

Arizona 


Alton rj 
(MOOT* 

» Uoftnon 15). 

M 22-184 
22 24— 92 

Slkmo 8-13 4-5 20: 

*H54 73. Wllltoms 9-24 0418. R*- 
' * rt »*o 25 (McCormick, Sixmo 91. 
»» (Know 121. Assists: Seattle 31 
j*"" »J- Indiana 13 (Krikwo. Stans- 

/*** 25 X X 77— T** 

i S5\ . mWc* nuva"."." ^„J.! > ■ M M 75 W-Mi 

u »-17 M 35. Scott MOM 19; 

lhlitpu V. UL I V Jp , *2-25 M 3J. Bryant UUHW 

i,T»l ,H,- I Lj ** n ° (AMui-Jahter IJ).' 

; ih'Ki mcK'J l “ l * . twtos z» (Horaor s>. 

in (hr •in* l ind ,,„r. “ , , -at* » m m 21-111 

n . iiw pu'-'V ‘ , ir _ xt v tz ji— m 

Va! “She ‘ 14-1422.- WooO- 

...-tl P‘‘ fl jFr° ,v 53 (Thomason U), Ptwwito 57 

i Iht swvk 

^^itu-Uticpn* 


( Edwards 14). Assisls: Kansas Otv X Uohp- 
son. Draw 5). PtmnU 27 (Davit 111. 
MnwonfcM tl S B 34—122 

Denver *7 X 1* 38-133 

Englisn I5BMK Natt 12-22 5-9 20; Cwn- 
miitos 14-20 « 3X Atoncrtof f-M 84 26. R*- 
haaads-. Milwaukee 41 (CummlnK 151, Dwv 
ver43 (Cooper. NaM ill. Autsto: Mllwmikea 
X (Prwssw 81. Denver X (Lever 6). 

LA. CBppers XXX 21— Ut 

Gotdea Stole XXX 28— MB 

Short 1225 13-1* X. LFtoyd 9-74 34 23; 
PamHh 13-17 44 3R Nixon 8-14 24 2a Re- 
taoeads: LA. a topers 41 (Danahlsan 11). 
Golden Stole 55- (M (Johnson ID. Assists: LA- 
Clippers 23 (Nixon B), Gotten Stole X (Short 
. M- 

SeLected CoDege Scores 

FRIDAYS RESULTS 
EAST 

Cohimbto 42. Harvard SB 
Cornell 57, Dartmouth 53 
Delaware St B». MO.-E. Shore 55 ' 

Maine «a New Hampshire 59 
Princeton 58, Brawn 56 
Yale 77. Penn 75 

MIDWEST 

LoraJa, ill ML New Orleans as 
Auousrana. SJD. M, N. Dakota 77 
St. Claud SL 8L South Dakota 74 
S. Dakota St 82, N. Dakota St 44 
FAR WEST 

Babe St. 71. Weber St. 49 
Hawaii 71. SW Louisiana 70 
Idaho St. 102. Idaho 99 
Santa Clara 79. Portland 49 

SATURDAY'S RESULTS 
EAST 

American U. 84, Monmouth 81 
CohimMa 83, Dartmouth 44 
Harvard 77. Cornell 64 
Howard 77, M<L- Eastern Shore 41 
Massachusetts 4& Dwwesne Sf 
Perm 91, Broom 79 
Pittsburgh ft VUIonova 43 
Princeton 4i Yale 41 
Rhode I stand 71, Rutoers 49, OT 
Satan Hall 85- Connecticut X 
Siena 75. Boston U. 7) 

St. Banavenlure 72. Perm St 57 
5L John’s 72. P r ovidence 53 
St Joseph's 70. Temple 44 
Vermont 38. Cnloott 54. OT 
West vkatnto 73, Gearse Vitashinaton 43 
SOUTH 

Alabama 41, Mississippi 49 
Alabama St 41. Jackson St 59 
Alcorn 40. Southern 57 
Arkansas St S& Tennessee St. S4 
Auburn 84. Vanderbilt SB 
Ctomsan 100. Wtnttaron 5S 
Florida 89. Mississippi ST. 43 
Florida A&M 54. Rodtord 76 
Ftorkta St 87. Sooth Carolina 73 
George Mason 99, NX.-WDmlnston X 
Geonria Tech 64. SI. Louis 5* 

Louisiana SL <7. Kentucky 41 
Memphis St 66. Laptev Hie 59 
N. Carolina A&T 91 Maroon St. 64 
N. Candlna SL 66. wake Forest 64 
North Carolina 78, Duke 48 
Richmond 68, William & Mary SB 
Tennessee 84. Georgia 85 
Tutone 71. 5. NUsstssiaol *7 
MIDWEST 

Bradley 82. Illinois SL 49 
Cincfnnall 70, vlralntt Tech 41 
DePad 49, Marquette 52 
Illinois 86. Purdue 43 
Iowa St A Colorado 43 
Kansas St. «9, Missouri 54 
Kent St 74* Bowling Green 72 
Mankato SI. 82. South DoWSo IS 
MtamL Ohio 67. Ohio U. 64 
Michigan 57, Northwestern 66 
Mtchtocm 5t. 82. Wisconsin 43 
N. Dokoia SL 102. Auotwtona SJ>. 97 
OMo St. 78, Mlrmesata 77 
Oklahoma 45, Nebraska 40 
i Dakota 5t 45, N. Dakota 43 
S. Illlaals 85. indhma SL 84 
SOUTHWEST 
Arkansas 104* Baylor 71 
Kansas 8& Mtohama SL 79 
Oral Roberts 91 Stetson 76 
Texas A&M 79, Rice 42 
Texas Tech 4t Texas Christian 53 ■ 

Tuba 67. Wfchfm St. 46 

PAR WEST 

Colorado SL 73, Texat-EI Paso 49 
Fullerton St- BL CaUrvtoe 74 
Idaho St. 79, Boise SL 75, OT 
Montano 46. Montana St. 50 
Nev^Las veaas 84 Long Beach SL 61 
Nev.-Rena 77. N. Artoona 44 
New Mexico 83. Wyoming » 

Oregon 48, 5taitord 61 
Oregon St. 51* Calltornlo 37 
Pegp e rdtne 8fc LevafOi Calif- 77 
San Jose St 84 Fresno St. 8R 20T 
Santa Clara 45. Gonzaou 52 
UCLA SR ATtwna S* 

Utdi 84. Brigham Young IS. SOT 
Utah SL 105. New Mexico 5L 9S 
Washington SL B6, Arimw St 71 
Weber SL 9 A Wtoho 7< 

TOURNAMENT 
... CLAA 

Championship 

Virginia Unfan 67, Norfolk St 45 


NHL Standings 


WALES CONFERENCE 
Patrick Division 



w L 


Pis 

U. 

(9 

GA 

WasNiBtan 

■ ■ 38 T7 

9 

•85 

263 

191 

PMIatatpMa 

37 11 

7 

81 

240 

.193 

N.Y. islanders 32 27 

4 

68 

283 

247 

N.Y. Rangers 

20 33 

9 

49 

232 

216 

Pittsburgh 

21 35 

5 

47 

21* 

284 

New Jersey 

18 34 8 
Adams Divtstoc 

44 

207 

258 

Montreal 

32 22 

10 

74 

244 

213 

Buffalo 

30 20 

12 

72 

225 

179 

Quebec 

32 24 

8 

72 

244 

230 

Boston 

28 26 

1 

44 

229 

215 

Hartford 

21 34 

7 

4) 

211 

244 

CAMPBELL CONFERENCE 
Norris Division 


SI. Louis 

30 21 

11 

71 

237 

234 

Chicago 

30 30 

5 

65 

252 

248 

Detroit 

30 34 

11 

51 

245 

289 

Minnesota 

19 35 

11 

49 

219 

242 

Toronto 

17 40 7 

Smyth* Dtvtotafl 

41 

204 

274 

k -E dmonton 

43 14 

7 

93 

322 

220 

Cotaary 

32 25 

7 

71 

289 

2S2 

Winnipeg 

32 26 

7 

71 

284 

285 

Los Angelas 

T9 24 

11 

69 

282 

244 

Vancouver 

18 38 

a 

44 

218 

330 


(x-dinehed ptovoff spot) 

FRIDAYS RESULTS 

Hartford 2 1 1—4 

New Jersey » » V- 1 

Nouteld (X). Fenton (3). Dlneen (16). Klein- 
endarst (IJ: Adams (SI. Shots on goal: Hart- 
ford (on KamppurL Retch! 8-7-4-21; New 
Jersey (on Weeks) 7-13-9— 29. 

Minnesota 0 t 1-5 

Detroit 2 2 2-6 

Oura«Wck2 (4t.Mnnne (TI.Daauav 3 (29) ; 
Beralund (7), Biuestod DO), shots on goal: 
Minnesota ion Stefan) 124-7—23; Detroit (an 
Sands. Metansan) *-14-11-34. 

2 9 2—4 
1 1 4-4 

MaeowuDrNUsson (31), Rehtfiort (201, Mc- 
Donald (19). Rbebroush < 11 . Quinn (15); OtB- 
fals (lOLCheflos (4). Tremblay (24). Robinson 
(lil.BtMds on goal: Montreal (oa Lametta) 23- 
14-12-48; Cal gory (on SoetoerT) 5-9-12— 24. 
Las Angeles 2 1 2-5 

Edmonton 9 2 2-4 

(jopatme (4). Moc Lolland (24). Fax (27), 
Nlchaiis (48). Sykes do) ; Messier (MI, Hunt- 
er (131. Kurr13(61).SiMtsangBM: Las Ange- 
les (an mooq, Baron) 12-9-6—27; Edmonton 
(an Janecvk) 4-13-12— 3L 


SATURDAY'S RESULTS 

8 8 8-8 
2 3 8-5 

Rett (9), Lfawemon 2 (21). O’Reilly (10). 
Blum (3). Shots on eeaB: Vancouver (an 
P ev » or»)6-A3-d.- Boston Ion Caprice) 17-to- 
V- 34. 

Philadelphia 1 8 2-3 

Quebec 2 2 8—4 

Gillls 2 (131, ASlastnv (33). Goulet (43); 
Karr (47), Craven (X). Shots oe goal: Phila- 
delphia (on Gawriin) 7-9-1J— 29; Quebec (on 
Freese) 15-10-7-32. * 

Butfato 8 2 0-4 

Washington 8 8 0-8 

Ruft2 (4L Andrevthuk2 (30). Shots oe goal: 
Buffalo Ion Rtoaln) 7-0*— M; Wasnlngton fan 
Bar rosso) 884-21 

N.Y. Rangers 8 2 3—4 

Pittsburgh 4 8 1—5 

Lemleux (30). Bullard 2 (23). Young (33). 
Lamoureux (4); Sandstrom (21), Greschner 
I14L Rnotooialnenum. Pavei Ich (11. Shuts ee 
goal: N.Y. Rangers (an Herron) 13-10-13-36; 
Pittsburgh (an Hanlon) J4W-0-34. 

N.Y. Islanders 18 1—2 

Tore too 2 B 3-4 

Brubaker (Sl.CourtnaU (U).Oerlaoo (20. 
Terr ton (12); KoJIur (7). Ln Fan Wine (17). 
Shots oa goal:. N.Y. isionders (on Bernhardt) 
9-10-11-30; Toronto (on Hraday) 134-4-25. 
Chicago 2 I 1—4 

St Louis 8 13-4 

D. Sutter 3 (11), 5ecsrd (11); Both well (4), 
Ramooe (41. Fedetka (XI. GUmour (171. 
Shots oa goal: Chicago (an Warns kv) 7-11-8 
0—24; St. Louis Ion Baimermon) 9-11-18- 3— 41. 
Detroit 0 1 V— 2 

Minnesota « 4 1—4 

Graham 1 tSK Sherven MO). Moruk (151, 
Blugstod (11); Slttler (7). Larson (14). Stats 
oe goal: Detroit (on Moloche) 12-12-10-04; 
Mtanesata (an Stefan) 1813-14 43- 


Transition 


BASEBALL 
American League 

Minnesota— S igned Tim Teutet second 
Dasemaitand Houston Jimenez, (nfletter.ro 
ono-roor contracts. 

NEW YORK— Signed Rex Hwdter.inlieMer. 
ond Dennis Raarrejssen and Joe Cowtov, 


MEiTS SUPER GIANT SLALOM 
[At Furane. Japan) 

. 1. (lie). Steven Lee, Australia, 1 mtauie. 31 J4 
seconds. 

-Daniel Mahrer. Switzerland. I:3U6. 

• J- Brian Stemmle, Canada. 1:3144. 

..4., Ivon Morzbtt. lwW. 1:3) Jb. 

5. Mlehoel Mar r. Italy, 1:31 J5. 

8 Karl Atolger. Swltoertand. 1:31 JR 
7. Sepp wiMgniber. West Germany. 1:32.12 
i. Glooomo Ertadwr. Italy 1 :3L29. 
i Peter Roto, west Germany. West Germa- 
ny. 1 :32J* 

10. Herbert Renottv. Wesi Germany. 1:3250. 

MB NS DOWNHILL 
(At Furanct Jason) 
l. Todd Braokcr, Ornoda, t J&62 
Z sopp wtidoruner. West Germany. 1:56.18 
X Bruno Kernen. Switzerland. 1:5635 
4. Karl Aipieer. Swlizeriona, 1:5667 
Z Mlehoel Mate. Holy. V.54J1 

6. Daniel Mahrer. SwitserlontL 1:57.71 

7. Steven Lee. Australia 1:58.16 
A Moure Comaz, Italy, 1:58A 

9. Markus Wasmeler, West Germany, t :58AJ 
ia Peter Wlmsberaer. Austria 1:5150 

11. Silva no Melt Switzerland. 1:5852 
IX Alberta GMdanl. Italy. 1:5892 

IX Helmut Hoefl rimer. Austria, i J92J 
14. Donald Stevens, Canoda 1:59J2 

18 (tie) Philippe Verneret Franca l:59Ja 
18 (He) Ivon Morzoto. Italy, 1:5953 
17. Alan Loutoa U5. 1:5954 
18 Daniel Moor. Canada 1:5955 
19. Marc GtrarOeUL Luxembourg. 15970 

X Stove Hegg. U5- 1:9971 

MEITS OVERALL STANDINGS 
1. Marc GlrardeilL Luxemboura 240 
X Plrmln ZurOrtogen. 5wltierlana 2D7 
X Andreas WenzeL Liechtenstein. 172 
8 Franz Hebizer, Switzertand, 132 
X peter Mueller. Switzerland. 128 

6. Thomas Buergter. Swltzerlond. 134 

7. ingemor Stonmork. Sweden. 115 
8 Helmut Hoefiehner. Austria 113 
9. Peter I. Wl ms berper. Austria 111 

18 Bolan Krtaal. Yugoslavia 99 

>L Martin Hanoi, Switzerland. 93 

IX Peter Luesctw.’ Switzerland. 92 

IX Max Julen, Switzerland. 84 

14. Oswald Tench. Italy. 82 

18 Markus Wosmoler, West Germany, 80 


By Bob Donahue 

/urtmahonul ilcrjJJ Tribune 

DUBLIN — Battling Irish rugby 
forwards matched French regres- 
sion. and center Michael Kiernan's 
five penally goals were just enough 
for a 15-15 draw in Dublin on Sat- 
urday. French backs combined for 
two classy tries converted by fly- 
half Jean -Patrick Lescarboura. 
who. in between, kicked a penalty 
goal. 

In Edinburgh, the Scots mice 
came from behind to lead Wales 
thanks to tries by No. 8 Iain Pax- 
ton. but the second of flanker Da- 
vid Pickering’s two tries put Wales 
in front for good near the end. An 
opening drop by re- instated fiyhalf 
Gareth Davies' and a conversion 
and four penalty goafs by fullback 
Derek Wyatt made it 25-2! for 
Wales. Scottish fiyhalf John Ruth- 
erford slotted the two drops and 
fullback Peter Dods kicked two 
conversions and a penalty goal. 

Tbe weather was dry and over- 
cast for both matches — and the 
refereeing controversial. The Welsh 
coach. John Bevan. called referee 
Rene Hourquet of France “inccm- 
petenL” The French coach, Jac- 
ques Fouroux. claimed that the two 
Welsh touch judges who assisted 
referee Kerry Fitzgerald, of Austra- 
lia. policed mainly France. 

To neutral observers, both re- 
sults looked fair. Wdsh initiative 
and overall domination earned a 
victory that Welsh mistakes kepi 
narrow. French mistakes — "too 
many.” Fouroux admitted — threw 
away a victory that was there for 
the taking. 

So tbe Five Nations tournament 
will reach mid-March with four 
t eams still unbeaten and going for 
first place. Only Scotland has lost 
— three limes now. with England 
next to face. 

With half of the 10 annual Five 
Nations matches played, there have 
been 20 penalty goals and only 10 
tries. No one has scored a try 
against France. There have already 
been nine drops, which is two more 
than tbe seven kicked in 10 matches 
last year. 

Six drops were missed in Dublin 
on Saturday — three by Lescar- 
boura, one by fullback Serge Blan- 
co and two by Irish fiyhalf Paul 
Dean. Kiernan connected with five 
out of seven attempted penalty 
goals, but Lescarboura missed one 
of his two and Blanco missed once. 
The theoretical score, with all kicks 
succeeding, would be 33-27, which 
gives an approximate measure of 
French territorial superiority. 
France’s sawing opportunities con- 
siderably outnumbered Ireland’s. 

But so did France’s mistakes, ln 
particular. Lescarboura's late 
bump into Dean enabled Kiernan 
to tie the score at 6-6 after France 
had taken the lead with its first try. 
And when flanker Jacques Grauon 
laie-cbarged Dean in tbe third 
quarter, Kiernan’s fifth penalty 



Tla Auouotad Pirn 

In hard-fought match between French and Irish in Dubfin, 
victory was up for grabs before contest ended at 15-15. 


made it 1 5-9 and the second con- 
vened French try would not be 
enough for ri Clary'. 

Both tries were gems. 1 n the sixth 
minute captain Philippe Dintrans 
ran a penally from lockable range, 
the forwards drove toward the 
posts and scrumhalf Jerome Gal- 
lion switched the attack leftward. 
From center Didier Codorniou the 
ball went to Blanco and on to left 
wing Patrick Estevc. who drew 
three defenders leftward before 
sidestepping inside them and 
straightening for a bee-line burst to 
paydirt. 

From a lin com on the right in the 
17th minute of the second half, 
G allion and Lescarboura fed cen- 
ter Philippe Sella as Lescarboura 
looped bdiind him. Instead of flip- 
ping the pass back to the fiyhaif. as 
would seem likely. Sella checked, 
daned and fed Laurent Pardo, who 
came in unnoticed from the distant 
right wint The move’s fifth pass 
was for Codorniou, who crossed 


untouched. “Beautiful” said the 
Irish coach. Mick Doyle. 

But "we an: happy!" Doyle also 
said, referring to his young' team’s 
hlow-for-blow resistance to unusu- 
al French ferocity. “We stuck by 
our guns.” 

There were complaints in the 
Irish camp Saturday night •— and 
bitter claims in the Dublin press on 
Sunday — that the game had been 
too rough. The French disagreed, 
recalling fiery Irish play in past 
seasons and indicating that they 
flew across this time determined to 
brook no intimidation. 

ln fact, players exchanged jer- 
seys and handshakes at the end. 
The Irish team bus crossed the city 
led by a police motorcycle escort 
with foghorn sirens hooting cheer- 
fully in a dusk drink. The rest, 
starting with the joint banquet at 
the thronged Shelbourne Hold, 
was forecast by a French support- 
er's banner at the stadium: “Vic- 
tory or defeat, for us it it’s a Kte.” 


Denver Finds a Nugget in Evans 


European Soccer 


ENGLISH FIRST DIVISION 
Araenol X West Ham 1 
Aston Villa a Leicester 1 
loswicfi X CMfaea a 
Liverpool L Nottingham Forest 0 
Luton X Sunderland 1 
Manchester Untied 1 . Evert on 1, tie 
Newcastle X Watford 1 
Queens Park Rmgers X Norwich Z tie 
Sheffield Wednesday 1, Coventry 0 
Southampton 8 West Bromwich Albion 3 
Stoke a Tottenham 1 

Point* StutffesK Everton 54; Tottenham 
54; Manchester 49; Liverpool 48; Sheffield.' 
AraenoL Sou team elan 44; Nottingham 45: 
Chelsea 40: Aston Villa, Norwich 37; Newcas- 
tle 36; West Brum. Queens Pork Rangers 35; 
Leicester 33; West Horn XL- Wofford 30; Son, 
dertond 29; Coventry 38; Ipswich, Luton 25; 
Stake 1Z 

FRENCH FIRST DIVISION 
Toulon I. Lens 0 
Names 1, Mete 0 
Paris SG z Thurso 
Toulouse 1, RC Paris 3 
Brest Z Auxerre 0 
Laval 8 Marseille 2 
nancy Z Rouen 2 
Monaco X Strasbourg D 

Point* Standings: Bordeaux 45; Nantes 38: 
Toulon 33; Auxerre 32; Monom Brest 30: 
Meiz29; Lens 27; Paris SG 24: LavaL Bastta 
S; Nancy. Toulouse 22; Sadiaux, LTIIe. Mar- 
sellie2i; Rouen 18; Strasbourg, Tour* 17; RC 
Parts 15. 

ITALIAN FIRST DIVISION 
A Iolanta X Ascofl 0 

AveUlne a Rorenttaa 0 
Came X litter 8 
Juventus 5, Ci e mon es e 1 
Lazio 8 Torino 0 
Milan Z Naooll ) 

Sampdarta 1, Udlnese 0 
Verona 1, Room 0 

Potato StcBdMs: verana 31 : Inter 29: Tori- 
no. 5ampdari<L AC Milan 27; Juventus 25; 
Rama 23; Fforanffna 21; Napoli. Alalanta 70: 
Avail tao 19; Como 18; Udlnese 16; Ascoll 14; 
Lazio ll; Cre mo nese 8 

WEST GERMAN FIRST DIVISION 
Bayer 04 Leverkusen Z Hamburger SV 0 
FC Kaiserslautern Z ElntrgeW Frankfurt 1 
EintrocM Btounsciiwg l. Fort Duessektorf 0 
Arminia BleleWd Z SV WaMbai Mnuihelm 1 
Werder Bremen X VfB Stuttgart 1 
Haver Uerdtngsn Z FC Cologne 1 
Barusalo Dortmund t. Bayern Munich I 
Kortsruner SC vs Schalke M, oml 


SEATTLE— Agreed to contract terms with 
Alvin Davis, first baseman. 

TORONTO— signed Louis Thornton, out- 
fielder. and Mike 5horaersan. second base- 
man. to one-vsor contrads. 

NBttoaal League 

ATLANTA— Homed Bobby Dew* first base 
emch. Named Roy Mall yka manager of Rich- 
mond of the international League. Jim Beau- 
ctounp manager of Greenville of the Southern 
League and Harry Bright manoesr of Dur- 
ham of too Carolina League. 

new YORK— R eached on agreement wltn 
Oarrvt Strawberry, outfielder, on a mutll- 
veor contract 

BASKETBALL 

Nat loaoi Basketball Association 
LEAGUE— I nvaclor Herbert Koht on- 
noancedhe win buy the Milwaukee Bucks and 
kcoe the dub In me dry. 

LA. CLIPPERS— Piaead Joy Murphy, for- 
vmra-certir, on taiured reserve list. Stand 
DOW WUkbwm, fontard. to a lOttav Contract. 

HOCKEY 

NOdtoaal Hockey Learn 
LEAGUE— Suspended Pittsburgh forward 
Gary RlssJlng for three pomes far his role In a 
bench-ooortna brpwL 
PITTSBURGH— PurdMsed the coni rod at 
Wally Walr. forward-defenseman, from Hart- 
tort. 

TORONTO— Sent Ken Wregget. pool tender, 
to SL Catharines of the American Hockey 
League. Recalled Allan Bcsler. gaallender. 
from St. Catharines. 


WOMEN'S DOWNHILL 
(At veil, Colorado) 

1 . Katrin Gutensohn. Austria 1 :4755 minutes 
Z Brigitte Oertli. Switzerland. 1:443 
X Marla Walliser. Switzerland. 1:4857 
4. Laurie Graham. Canoda. 1:4877 
X Koran Stemmle. Canada 1:4887 

6. Holly Betti Flanders, U.X. 1 14896 

7. Elisabeth Kl retiter. Austria 1:4957 

8 Olga Charvatava Czechoslovakia 1:49.44 
i. Michoota Gera. West Germany. L49AB 
18 Regine Moeseniectiner. West Germany. 
1:4958 

11. Caroline Altta France. 1:4953 
IX Sylvia Eder, Austria 1:4954 
IX Debbie Armstrana U5, 1:49.97 
18 Marto-Ceclie Grag-Gaudenter, Franca 
1:58)1 

IX Cindy Oak. U-S_ 1:5825 
16 Christine Pun. Austria 1:5029 
17. Sigrld Wolf, Austria 1 5831 
18 VeranDto Walllnger, Austria 1:5033 
19. Patricia Kaesito. Switzerland. 1:5043 
WOMEN'S OVERALL STANDINGS 

I. MIefwta FMnL Switzerland. 321 points 
Z Brigitte OertIL Switzerland. 186 

3 (lied) Elisabeth Klrchler, Austria 154 
and Moria wanfaer. Switzertand, 156 
8 Marina Ktohl. West Germany. 151 
6 Erika Hess. Switzerland. 134 
7. Olga Charvatava Czechoslovakia 128 
8 Tamara McKinney, UA. 107 
9. (tied) Christelt* Gutawd, France, 82 
and Marla EpMe. West Germany. 82 

II. Blcnca Fe r nandez Ochoa Spain. 78 
1Z Zee Haas. Swit ze r la nd. 77 

11 Mkhoeta Gera West Germany. 7D 
U Eva Twgrdakens, Ui. <7 
IX PerTtne Peton. France, 64 


Los Angeles Times Service 

DENVER — At a time when 
basketball stars are getting $2 mil- 
lion salaries and relief pitchers SI 
million, a bargain in sports is hard 
to find, 

Tbe Denver Nuggets hare found 
one. They have guard Mike Evans, 
who specializes in mirade finishes, 
and they are paying him just 
565.000 for the season. 

Saturday night, Evans led the 
Nuggets to their second sensational 
comeback in a row. Calvin Nail's 
12-foot jumper at tbe buzzer was 
the shot that gave tbe Nuggets a 
123-122 victory over the Milwau- 
kee Bucks. But it was the clutch 
play of Evans, a sixth-year guard 
from Kansas State who was tbe 
catalyst for tbe second straight 
night. 

Friday night at Dallas, Evans 
scored a career-high 38 points and 
sank five three-point shots as the 
Nuggets overcame a 23-point defi- 
cit to beat the Mavericks in over- 
time, 141-140. 

Elsewhere in the NBA Saturday, 
it was Washington 109, New York 
97; San Antonio 105, Atlanta 92; 
Seattle 106, Indiana 92; Los Ange- 
les Lakers 125, Dallas 106; Phoenix 
1 14, Kansas City 1 1 1, and Golden 
State 108, Los Angeles Clippers 
102 . 

On Friday, it was Atlanta 114. 
Boston 105; New Jersey 100. 
Washington 98; San Antonio 108, 
Detroit 98; Chicago 109, New York 
104; Houston 119, Utah 115. and 
Cleveland l ] l, Portland 103. 


NBA FOCUS 


In Saturday’s Denver-Milwau- 
kee game, before a sellout crowd of 
17,024, Evans was instrumental in 
bringing the Nuggets from nine 
prams down in the last three min- 
utes. 

The Bucks, who rallied from a 
14-point, second-quarter deficit, 
led by 1 16-107 before Evans, given 
a standing oration when he first 
entered tbe game, led tbe charge. 

Evans gpt five of the points, in- 
cluding a three-point play, in a 10-0 
spurt that pul Denver in front with 


Throwing Chair 
Costs Knight 

The Associated Press 

CHICAGO — Bobby 
Knight, tbe basketball coach at 
Indiana University, has been 
suspended for one game for 
(browing a chair. 

Knight agreed not to coach 
Sunday’s conference game at 
Iowa and not appeal die deci- 
sion . the Big Ten Conference's 
commissioner. Wayne Duke, 
said in a statement Saturday. 

Angered at officiating. 
Knight buried a chair across the 
court in the first half of a Feb. 
23 game against Purdue at 
Bloomington, Indiana. He pub- 
licly apologized fra his behavior 
the next day. 


i:15 to play. Then, after Milwau- 
kee went back ahead, Evans took a 
charge from Terry Cummings to 
prevent the Bucks from taking a 
three-point lead. 

Knocked to the floor, Evans had 
to leave the game. He came back 
with 15 seconds left to hit Alex 
English with a pass for a lay-up 
that gave the Nuggets the lead. 
With six seconds left, Sidney Mon- 
crief tipped in n bosket and Mil- 
waukee led, 122-121. The buzzer 
sounded before Natt’s shot swished 
through, but, over the protest of the 
Bucks, it was allowed. 

Earlier in the season, when Ev- 
ans asked for a raise, the Nuggets' 
general manager, Vince Botyla, 
told him he was lucky just to be in 
iheNBA. 

It’s rather obvious that Nugget 
fans and players don't agree with 
Boryla. Evans has played a promi- 
nent role in the Nuggets' amazing 
season. They lead the Midwest Di- 
vision by four games. 

■ Jazz Keep Drew Sidelined 

Utah Jazz forward John Drew, 
released from a drug rehabilitation 
program last month, will not be 
allowed back on the team this sea- 
son, Coach Frank Layden said Fri- 
day, The Associated Press reported 
from Sail Lake City, Utah. 

However. Drew will be invited to 
try out when tbe team opens its pre- 
season training camp this fall Lay- 
den said. Drew now becomes a free 
agent. He can sign with any other 
National Basketball Association 
dub, or try again with Utah. 



Quebec Defense Turns Offensive 


USFL Standings 


EASTERN CONFERENCE 



W 

L 

T 

PcL 

PF 

Birmingham 

1 

0 

0 

uno 

38 

Jacksonville 

1 

0 

0 

UNO 

S 

Memphis 

1 

0 

0 

MOD 

-20 

Tampg Bov 

1 

0 

0 

I860 

as 

New Jersey 

1 

1 

0 

-500 

56 

Baltimore 

0 

1 

0 

J»0 

14 

Orlando 

0 

2 

0 

JDO 

17 

WESTERN CONFERENCE 

Arizona 

1 

0 

0 

1.000 

9 

Houston 

1 

0 

0 

MOO 

34 

Oakland 

1 

0 

0 

UNO 

31 

Portland 

1 

1 

0 

-SCO 

21 

Denver 

0 

1 

a 

JB0 

10 

SOP Antonia 

0 

1 

0 

NO 

3 

Las Angetes 0 2 0 SOD 

FRIDAY’S RESULT 

43 


MEN'S WORLD CHAMPIONSHIP 
(At HWttOAt 
SINGLES 
Quarterfinals 

John McEnroe. U.S. deL Brad GIBwrt. U5. 
60. 6-1 

Snatuzr ParUss. Israel del. Mark Dleuon, 

US.7A48 

Peter Fleming. England, drt. Lett SMras. 
U«.64,M. 

Kevin Curran, South Africa def. Tim 
Mayotte, U5. 7-5, 7-4 (7-S). 


Hem Jersey 38. orterufe ID 

SATURDAY'S RESULT 
Portland 14, Lee Ataetos 10 


WOMEN’S TENNIS TOURNAMENT 
(At Il ar Bui . pefnsviwantal 
SINGLES 
Third Round 

Roc w While, UJL. del. Elizabeth Smylfo. 
Australia, 7-4 ( 7 - 4 ), &X 
Peanut Laufa. UA. Set. Mareeto Skuherska 
Czedetttovrkla 4-8 4-X 
Am Mliter. Australia def. Slaataile 
Rene. U5. 6-4. 1-8 7-4 (70). 

Camille Senktaitn. U5- riel, wendv While. 
US- W, 60, 7-4. 


The Associated Press 

QUEBEC — Paul Gillis of the 
Quebec Nordiques knew exactly 
what his line was supposed to do, 
but he didn’t expen such terrific 
results. 

Gillis, a left wing on the Nordi- 
ques’ checking line thai was as- 
signed to stop the high-scoring 
Philadelphia lno of Tun Ken, Bri- 
an Propp and Dave Poulin, scored 
two goals including tbe game-win- 
ner, leading the Nordiques to a 4-2 
triumph over the Flyers in a Na- 
tional Hockey 1 League game Satur- 
day. 

“My two goals were a bonus," 
Gillis said. “Wejust wanted to shut 
down toe Flyers’ offense." 

The victory was Quebec's first 
over the Flyers since February 1982 


NHL FOCUS 


For Philadelphia, it was the second 
consecutive loss after eight straight 
victories. 

In other NHL games it was Bos- 
ton 5. Vancouver 0; Buffalo 4, 
Washington 0; Pittsburgh 5, New 
York Rangers 4; Toronto 4, New 
York Islanders 2; Minnesota 5. De- 
troit 2, and Chicago 4, St. Louis 4. 
On Friday, it was Hanford 4, New 
Jersey 1; Detroit 6, Minnesota 2; 
Calgary 6. Montreal 4. and Los 
Angeles 5, Edmonton 4. 

In Quebec Saturday, Anton 
Siaslny and Michel Goulet also 
scored for the Nordiques. while 
Kerr and Murray Craven replied 
for Philadelphia. ' 


Mario Gosselio sparkled in the 
Quebec net, especially in the third 
period when the Fivers outshot the 
Nordiques, 13-7. 

Kerr had given the Flyers a 1-0 
lead at 10:38 of the first period with 
his 47th goal of the season. 

But the Nordiques got on top 
with two quick goals 50 seconds 
apart. 

Gillis, taking a pass from Brent 
Ashton, beat goalie Bob Froese 
with a low shot to the stick side at 
16: 1 1. Stastny then converted a re- 
bound at 17:01 to put Quebec 

jAcad 2‘J, 

The Nordiques doubled their 
lead, striking for two quick goals to 
start the second period to g6 ahead 








Lie 


Page 16 


Pop Lyrics: 

By Robert Palmer 

New York Times Service 

N EW YORK — Bruce Springsteen became the 
first rock lyricist to be couruxl by both of the 
major candidates in a presidential election. Ronald 
Reagan singled him out as an artist whose songs 
instill pride in America. Walter Mondale retaliated, 
asserting that he had won the rock star’s endorse- 
ment- “Bruce may have been bom to run." Mondale 
said, quoting the title of a Springsteen hit “but he 
wasn't bora yesterday." 

Rock is pah of adult culture to an extent that 
would have been unthinkable as recently as a decade 
ago. It is no longer the exclusive reserve of young 
people sending messages to each other. 

Part of rock's message is in the muse itself — in 
the insistence of the beat, the shriek of heavily 
amplified guitars. But lyrics remain the most accu- 
rate barometer of what makes these times different 
from, for example, the 1960s and ^Os. 

In the ’60s it would have been unthinkable for a 
politician to seek endorsements from rock musi- 
cians. Rock was rebel music. Stars such as Bob 
Dylan and the Rolling Stones wrote and recorded 
outspoken lyrics that urged sweeping social change 
and an end to war and that flirted with the rhetoric 
of revolution. 

Most pop songs are love songs, as always, but 
today's versions try to look at relationships without 
rose-colored glasses. Romantic notions are viewed 
with some suspicion; so are drugs. And important 
rock artists ana “rap" artists, while no longer antici- 
pating radical change, are addressing issues and 
challenging their listeners to actively confront the 
world around them There have probably been more 
angry protest lyrics written and recorded in the past 
three or four years than in any comparable period of 
the 1960s. ‘ 

Love is siiO something one hears a great deal 
about in pop lyrics, but the contemporary version is 
more hard-beaded. Many of today's songwriters 
argue that romance isn’t as important as material 
values or sex. “What's love got to do with it?’ Una 
T urner asked in her recent heavy-breathing hit of the 
same title. And Madonna, whose come-hiiber pout 
and undulating style have made her pop's hottest 
video star, serves notice in her hit “Material Girl" 
that she won't worry much about love as long as 
there’s money in the bank: 

Only boys chat save their pennies 
Make my rainy day . . . 

We're living in a material world 
A nd I'm a material girl. 

Madonna's carefully calculated image has struck a 
chord among many of today's more affluent young 
listeners, though she is perhaps loo one-dimensional 
to be Queen of the Yuppies. And she will never be 
the darling of the feminists. 

Nevertheless, during the past decade, the hue and 
cry against rock lyrics that demeaned women seems 
to have had a broad and salutary effect. One does 
not hear many songs of the son the Rolling Stones 
and other ’60s bands used to perform, songs like the 
Stones’ “Under My Thumb." 

Under my thumb her ever are just kepi to herself 
Under mx thumb, well / can still look at someone else 


Their Message for listeners Today 





\ 

•nS***, 

\ 

\ fl"** _ 


It's down to me. the way she talks when she's spoken to 
Down to me, the change has come, she’s under my 
thumb. 

The title tune from Mick Jagger’s new solo album, 
“She’s the Boss," is sung like a taunt or a tease, but 
that does not disguise its message: Jogger seems to 
have experienced a shift in values since he wrote 
“Under My Thumb": 

Slier the boss! She's the boss! 

She’s the boss in bed, she's the bass in my head 
She’s g or the pants on. nan- she's the boss. 

Still many pop lyrics continue to celebrate male 
dominance. Aggressively macho rock has been mak- 
ing a comeback. Heavy-metal rock, which appeals 
almost exclusively to white male teen-agers and 
tends to treat women as temptresses or chattel is 
more popular than ever. Women like Tina Turner 
and Cyndi Lauper, who project a certain indepen- 
dence and strength, help counter this trend, but 
sometimes one cannot hear them very well over 
heavy metal’s sexist .thunder. 

Amid these changes in attitude, the old-fashioned 
romantic love song, always the staple of pop lyrics, 
continues to flourish. Prince, another biggest-seiling 
artist, has progressed, from early songs that dealt 
explicitly with various sexual situations and permu- 
tations to love lyrics of a more conventional sort. 
“Take Me With U," from his phenomenally success- 
ful album “Purple Rain," could have been written 
decades ago or yesterday: 


\! 

\S c* v . ik. ^ v \i 
'i'V-r ^ 

-3 \ 

^*2ob** \ 


*dSS3r— / 


im 

T 


/ don't care where we go 
/ don't care what we do 
I don’t care pretty baby 
Just take me with u. 

In the 1960s. Dylan and other songwriters com- 
posed anthems that were sung by civil rights workers 
as they headed south, and by hundreds of thousands 
demonstrating for peace and equal rights. “How 
many deaths will it take till we know / That too 
many people have died," Dylan asked. “The answer, 
ray friend is bio win" in the wind." 

By the late ’60s, the peace and civQ rights move- 
ments were beginning to splinter. The assassinations 
of Lhe Kennedy's and Martin Luther King had 
robbed a generation of its heroes, the Viet nam War 
was escalating and violence was on the rise at home. 
Young people turned to rock, expecting it to ask the 
right questions and come up with answers, hoping 
that the music's most visionary artists could some- 
how make sense of things. 

But rock’s most influential artists — Dylan, the 
Beaties, the Rolling Stones — were finding that 
serving as the conscience of a generation exacted a 
heavy loIL Dylan wrote about the predicament in 
such songs as “All Along the Watchtower.” 

There must be some wav out of here, said the joker to 
the thief. 

There's too much confusion. 1 can't get no relief. 
Businessmen they drink my wine, plowmen dig my 
earth. 


None of them along the line knows what any of it is 
worth. 

Many rock artists of the ’60s turned to drugs 
before the decade ended. Songs that were thought to 
be about drugs, whatever their original intentions 
(Dylan's “Mr. Tambourine Man,” the Byrds' “Eight 
Miles High," the Stones’ "Get Off My Cloud”), were 
widely heard- Dylan sang that “everybody must get 
stoned,” and many young people seemed to agree. 
But the fad for drug lyrics was short-lived. They were 
never again as prevalent as during that brief Indian 
summer of the counterculture. One hears few drug 
references in today’s pop lyrics, and when drugs are 
mentioned, listeners are usually advised to stay away 
from them; “Don't do it,” Grandmaster Flash ana 
the Furious Five cautioned in their rap hit “White 
Lines." 

The mainstream rock of the 1970s produced little 
the way of socially relevant lyrics. Bui toward the 
end of that decade a change began to be felt The rise 
of punk rock in Britain brought angry songs about 
unemployment and nuclear Armageddon. In the 
United States, the issue of audear energy and the 
threat of nuclear war enlisted the sympathies of 
many prominent rock musicians. But attempts by 
Graham Nash, John Hall and other anti-nuclear 
activists to turn their concerns into anthems were too 
self-conscious; the songs were quickly forgotten. 

Rap. the new pop idiom that exploded out of New 
York's black and Latin neighborhoods in the late 
■70s, seemed to concern itself mostly with hedonism 
and verbal strutting at first. Then, in the early '80s, 
came “The Message,” the dance- single by Grand- 
master Flash and the Furious Five that provided 
listeners with an angry, eyewitness account of inner- 
city neighborhoods and people abandoned to rot, 
prey to crime, poverty, and disease: “It’s like a jungle 
/ Sometimes il makes me wonder / How I keep from 
going under," chanted the group’s champion rapper. 
MeUe MeL 

Bruce Springsteen's recent songs have also been 
topical and deeply fell. They have been the most 
popular musk of his career. He is writing for and 
about Lhe America of his dreams and the United 
States he sees around him, and his lyrics are followed 
closely by a huge audience, as last year’s presidential 
campaign references made abundantly dear. 

The narrator of Springsteen’s recent hit “Bora in 
the U.S.A." is a Vietnam veteran who returns heme 
to confront harsh realities. 

Went down to see my V. A. man 
He said ' Son don’t you understand now’ 

Had a brother at Khe Salui fighting off the Viet Cong 
They're still there he’s all gone 

Other songs on Springsteen's most recent album 
suggest that there is a pervasive gloom hanging over 
the United Staies’s decaying inner cities and factory 
towns. But their message is a positive one. “Hold 
on,” the songs seem to say,“you’ve got to have 
something to believe in." The laborer in “Working 
on the Highway" is certainly hang ing on to bis 
dream: 

/ work for the county out on 95 
All day l hold a red flag and watch the traffic pass me 
by 

In my head / keep a picture of a pretty tittle miss 
Someday mister I'm gonna lead a better life than this. 


LANGUAGE 


Oh, the Uses of Used 


By William Safire 

W ASHINGTON — 0 what is 

so rare as an afternoon spent 
browsing through an antiquarian 
bookstore, examining used bode 
that have made themselves scarce? 

The O that begins this piece is 
the poetic, sighiag-for-attention O, 
always capitalized, as in the odes of 
the great poets. When the same 
sound is spelled oh, the exdaxna- 
tion signifies wonderment, surprise 



eyebrow. 

know that about her. tell me 
more." When changed to ah, the 
exclamation means “There, that's 
the spot: rub some more” or “I 
thought I had my tonsils out when I 
was a kid. Doc:” when stretched 
and flattened in pronunciation to 
aah, it means “To heQ with it.” 

In today’s lead sentence, the 
words rare, used and scarce are laid 
out for comparison. Used is a beat- 
up word that nobody uses unless he 
must. Pedants ana bureaucrats, 
sharpening their implements, 
change the past tense of the verb 
use to utilized, used-car dealers 
change the adjective to the chichi 
previously owned. About the only 
people who use used with pride are 
sellers of secondhand books, who 
dunk they are getting away with a 
euphemism for secondhand. But 
even booksellers seek to put a spin 
on used: “if you open a store deal- 
ing in just ‘used bodes,’ ” confesses 
John King, owner of a used-book 
store in Detroit, “the customers 
won’t come as they would to a store 
of 'used and rare books.’ ” 

Used, at least, has a dear mean- 
ing of “not new." But what is the 
difference between scarce and rare? 

Some booksellers use scarce 
loosely, to mean “1 haven't seen 
this around much lately.” Others, 
like Dan Siegel of M&S Rare 
Bodes in Weston, Massachusetts, 
limit it to 25 copies known to be 
extant, compared to only five, 
which he thinks of as rare : “Books 
like James Joyce’s ‘Ulysses' (1 922), 
published in various editions total- 
ing 1.000 copies, and Newton's 
‘Pnnctpia’ (1687), of which Owen 
G in ge rich’s census has located 
about 270 copies, are not really 
very scarce. There are both large 
numbers in institutions and suffi- 
cient numbers (at a price) to satisfy 
one wanting a copy and willing to 
wait a few months and to pay 


S5.Q00 or so for the Joyce or 
520,000 for the Newton." 

In the general language, scarce 
means “inadequate supply" and 
ran is in such short supply as to be 
highly valued: in “bookseUerese. 
scarce means “hard to find, unless 
you grab this one or hire somebody 
to conduct a search.'* and rare 
means “very few around in private 
bands and available for purchase, 
which is why it costs so much."". 

And now to the book-buyefij . 
main concern, the condition of the 
book: “This ranges from fine to 
good to fair and then to poor, which 
might mean the copy is railing 
apart,” explains Allen Ah earn of 
the Quill & Brush in Bethesda, 
Maryland. Unfortunately, the 
meanings of these terms of condi- 
tion are all too subjective. A poor 
copy is sometimes euphonized as a 
reading copy, which the Modoc 
Press’s “Collector's Guide to Anti- 
quarian Bookstores" describes as 
having “no intrinsic value other 
than Lhe fact that it is in a condition 
that it can lx read." 

EpH EM ERA is a hot word these 
days in the antiquarian trade, from 
the Greek ephemeras, meaning 
“lasting only a day." Ephemera in 
the general language means “mat- 
ter of no lasting significance," bm 
the book trade has given it a sw_ 
dalized meaning: collectibles origi- 
nally with little, or ephemeral val- 
ue, but which now cost an arm and 
a leg. “It can mean any printed 
item other than a book." says Craig 
Anderson, the head of the rare- 
book collection at the Strand Book 
Store in New York: “Ephemera 
includes pamphlets, clippings, 
posters and broadsides — those are 
single sheets printed on one side 
and suitable for posting or framing. 
Some small presses have done 
broadsides of a single poem by an 
aiuboir, and it can be framed to 
hang." 

Oh. {Oh now has an h when the O 
sound is followed immediately by 
punctuation. “O Mistress Mine" 
has no punctuation after the O; 
“Oh. I stubbed my toe” does. An- 
other important use of the naked O 
is in what the Greeks called apos- 
trophe, not the high-riding posses- 
sive comma but the ihetoncai teqh^ 
nique of addressing someone wtff 
is not physically present: it is the 
difference between “O Lord” and 
“Oh, waiter!”) 

New York Times Soviet 


••'•.Sr r 


S 


JUS 

\ ' 


ANNOUNCEMENTS 


SUBSCRIBE 
to the 

INTERNATIONAL 

HERALD 

TRIBUNE 

AM) SAVE. 

As a new subscriber to lhe 
Infemotioral Herald Tribune, 
you con save up to hdf 
lhe newsstand price, depending 
or .your country of residence. 

For detail 

on tho speaal introductory offer. 
WTTflJ to- 

IHI Subscriptions Department, 

181, Avwwe OwrlsHWamih, 
92200 N*uSjr-nir-5«Hnu, Franc*. 
Or ttk Pam 747-07-29 

M ASIA AND PACIFIC 

contcd our load distributor or: 

l iri er writo nd Herald Tribune 
1 005 Tai Seng Camroerod Building 
24~34 Hwutetn Road 
HONGKONG 
Tot HK 5-2*6736 


TROPICAL WATERFRONT pfrwxy m 

anhqw-ftled ptanterton houses on 
Btuefidd Boy. JooraCOl unspoiled 
southeast coast. Ideal to diredws 
meetings to 2 to M people. Priced 

bom *1.295 per couple per week; 

mdudes W food & drink, fronsporto- 
Nan, tenm court. Ross & Monaire, 

116 N. Sotol Asrejh Alexandria, VA 

22314. Tel {703)549-5276. 


DIVORCE IN 24 HOURS 

Mutual or contested actions, law cast. 
Han or Donwuam BeputAc For hfor- 
mation. send 5375 to 24-pora booklet 
/han di ng to Dr F. Ganztfa, 00A, 
1235 K Si N.W., Washmgtan D-C 
20006, USA Tel: 202-452*331 


ANNOUNCEMENTS 


NEW PATENT LAW OF CHINA Offi- 
txh ham the Ovnne PtS&o office S 
agency vtsflng London, Brussels, Ptr- 
n,Dusseldcyf& Munch. Seminars late 
March - Errty April 1985. Apply Box 
40*43, CRT, 63 Long Acre, London. 
WQE 9JH. or Kl London &3B 36B8 


AM 8 UCAN FOREIGN POLICY 
Great Deaoore LXscuaon Senes be- 
Tuesday. March llth at 7pm. 

,555-9173 ext. M 


PHOTOGRAPHY WORKSHOP. G> 
met a/ Darkroom Technique, B me- 
Mirth 13 at frl575. 
Pons 555-9173 ext. 268 


ALCOHOLICS ANONYMOUS m 
Pans: 634 5961 Geneva 
Rome 67803 20 


IBM/ PC, XP, AT. Save. sow. save 

Call 8 ■ 10 pm. 577 8962 Pans. 


MOVING 


ALLIED 

VAN LINES INTL 

OVER 1,000 AGENTS 

fa LL5JL - CANADA 
350 WORLD-WIDE 
FU& ESTIMATES 

PARIS Dwbandn International 
(01} 343 23 64 

FRANKFURT JSHvmS. 

(069] 250066 

MUNICH 

(089] 142244 

LONDON JfES* 

(01) 953 3636 

CAIRO Alfred Van lino Inti 
(20-2} 712901 

USA ABiedVanliMM InD Carp 
(0101) 312-681-8100 


LMS. 


CGNTMEX (near Opera): Ccstbuv 
tors n 300 ones war Idwide - A« / 5ea 
CaR QxjrSe 281 18 81 Parts - Cars too 


INTERNATIONAL CLASSIFIED 


MOVING 


DEMEXPORT 

PARK • LYON • MARSEILLE 
UUUE • NICE 

Inti moving by speoefet from major 
ones in Prance to all ones n die world 
Tad free from France la ffi) 24 IQ 82 

ess estimates 


REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


COTE D'AZUR 

MCE aiWEZ RESIDENTIAL 


160 sq.m Ivina space. Nil. enlrqnce. 
lying, dining, j bedrooms. 2 both- 
return, hh equipped ktfcheiv laundry 
room, large terrace facing south, cellar 

9 V0^'hGH CLASS APARTMENT 

Inviolate panoramic sea view 
Pnce: F2.850.Q0Q 

L'UNIVERSQiE 


6 Aw Genri 
06000 Wee. 


ges Qe 
TeW 


OemencBou 
88 44 98 


TOURAME 10 km southwest Tour* 
7.300 Sam. 18th century house. 9 

rooms, fireplaces, beams, cuibudd- 

mm. StoMm. ouarotors house. Beau- 
tiful trees. J4?| 53 20 41. MAHDET, 
BoBan, 37510 Jaue las Tours. Prance. 


GREECE 


MUST SBh 18,000 SOM of beach 

front property in die Woponew. L> 

cook Guff paj/a LubotbcbJ. Great 

potentid at on e merrily (avertable 

trice. Hense col- 0B31 27242 be- 
tween 7-1 Op m. [Greek time) 


PARIS & SUBURBS 


CHANTILLY. Private sells m mas* pres- 
tigious reudentid area. 6500 sq/n. 
land, 5 mn. hem golf dub. 30 pa 
drive horn Pons. F550J3Q0 Write 6 c™ 
1BS7, Herald Tnbune. 92521 NeuiQv 
Cede*. France 




€B€L 

official wad 


I8c» GoW. 5r*el and 18 ct GcW. Steel, water >«istcnt 30m. Quarts 

F'yirpfonTTat'on'ATTf-jEBEL S A.. 23 C/)ln Cho'.'v -^e-rondsr’ i,vit^erlor<d 


REAL ESTATE 
FOR SALE 


PARIS & SUBURBS 


Embassy Service 

8 A vo. da M ento r 
75008 Pant 

Tele. 23169a f 

YOUR REAL ESTATE 
AGENT IN PARIS 

HATS FOR SALE 

mONE 562-1 MO 

FIATS FOR RENT 

PHONE 562-7899 

OFFICES FOR RENT/ SALE 

FHONE 562-6214 


XVIltb AVE N1EL 

5TH FLOOR ON BALCONY 
VIEW 4 SUNNY 

entrance halt, doing Evusa, eoupped 
faidten, WC, bathroom, i bedrooms, 
mod's room. reRFECT CONDITION 
Office hew 627 51 Jl 
Hon* 7e3 33 13 


REAL ESTATE 
FOR SALE 


PARIS & SUBURBS 


16TH, LAST NEW APARTMENT. h ?h 

daw. personalized finch ngs, large 3 
roams, terrace, trteresang price. Visit 
to Sundoy 24pm- la rue Jovve.net. 


SWITZERLAND 


SWITZERLAND 

h w i gi w net buy o STUDIO 
APARTMHMT or CHALET or LAKE 
GOCVA - MON1SEUX or m these 
world famous resorts: CRAN5- 
MONTANA, IB HABUE 8 ETS, 
VBBBIBL VI1IAR5, JURA. etc. horn 
SF1 10,000. Mortgages 60% at 
iteeresJ. 

REV AC S.A. 

52 rw de Montbrftam. CH.1202 
GENEVA. Tefc 41-2Z/34 IS 40. 
Tele» : 22030 


APARTMENTS - CHALETS 

Avaiable to Purchase by 

rniiteliMeii 1 

Prices from 5F123000. Mortgages at 
(W\ interest Write. 

GLOBE PLAN SA. 

Av. Man-ffcpcs 24 
CH-1005 Lament*. Switzerland 
Tel: (021)22 35 12. TU 251 85 MEUS CH 
Eshtototod Since 1970 


REAL ESTATE 
FOR SALE 


SWITZERLAMD 


SUNNY SOUTHERN SWTTZEBLAND 

LAGO MAGGIORE 

In best location we offer several mr 
u purt m etii s & houses in the beautiful 
Swes area m ASCONA and PORTO 
RONCQ. efl_- apartment. 133 sg/n. + 
terrace, overfoonng late & mountrins, 
*5?.’ m ro f « loAe, 1st quality, swtmnwtg 
[Me!, per^ae. Pnce 5F760jD00 
rtee for sale to foregnerj. 
M w lgoges at tow Swiss interest rates. 

EMRALD-HOME LTD. 

Via G. Cotton 3; 0+4900 LUGANO 
Tel: CH/9T-S42913 
TU 73612 HOME CH. 


USA GENERAL 


LAKE TAHOE, CA. Courtry inn. cot- 

tages & restaurant. Gteat opporTun 
ty. 5720.000 916-583-1723. 


USA RESIDENTIAL 


FLORIDA. PRIME BjORBIA property 

in Florida 5 fastest growing county, 
large ocreoge sulufvic&d with 
roads, smaB ocreoge on Ftonda Idee. 

5 uncoast international marketing, 

2677 HW. 10th Street. Sule 1. Ocala, 

Hondo 32675 


REAL ESTATE 
TO RENT/SHARE 


FRENCH PROVINCES 


ST. .EANCAPffiRRAT, between Nee 
& Monaco, luxurious modern villa. 
My A August, drtet access la sea, 
poof. 5 bedrooms -I- service. 2 kitch- 
ens, cxr-condrtiontsd, fgl TV derm, 
tx i n d uke r an premaes, ckrect from 
owner. Tet (3) 951 6477. 


ITALV 


SARDNA ITALY Usurious vita in 
Ftokimbaba Casta Smerddc 5 rnnutes 
to Porto Cotondo. 20 minutes to ftjrto 
Cervo. 200 sqm. + 100 sqm. 
terrace, 3 doutm roams each with 
own bathroom one service roam + 
WC, bg Iving. krtchan. private pmh 
to the sea. 2 Fur lime maids with tow 
awn car. Wee per week Juty/ August 
USSZMl Jwe/Seat. USS 2 J 00 . 
mtonum 2 weeks. Tet Monday • Fri- 
day 930 am. -6.Q0pjn.1tdy -Venete 
(41) 31161 or Tbt 410352 Pianan 


GREAT BRITAIN 


LONDON. Par toe b to hemhod Pats 

and houses. Consult toe Speck6us: 
Philips. Kay and Levs. Tet Uwdon 
352 Bill. Tdex 27B46 RBlDE G. 


ANSCOMBE A BNGIAN0 vrfh of. 

Bees hi Si Johns Wood & Kensngton 
offer the best service in residernid 
letting. Tel: 7227101 (Olf. UK. 


International Business Message Center 


ATTENTION EXECUTIVES 


in too Int ernational Hatred Tri- 
burm, where more than a third 
of a tnSUan readers world- 

with, mad of w h am two m 

butinma end industry, wiB 

road H. Just fefex uc (Park 

61 2595) before Warn* en- 

suring that wo awi telex you 
bade, and year ir wwa pi wRf 
within 48 hours. The 


a US S9.SO or too at 

mjvnndenf per ftw. You rmrsj 
kidudm aampteie and vo rat- 
able bating oddreu. 


BUSINESS 

OPPORTUNITIES 


THIS WEEK 
March llth 
in 

BUSINESS WEEK 
INTERNATIONAL 

■ America's High-Tech Crisis: Why 
SOIcchi Vafley h Lasing Hi Edge. 

• Slash Paint: Trade Tallu Wttti 
Japan Get Heated. 

• (town A Natch: Europe Pounces 
O The Mighty Dollar. 

■ West Germany: KohTs CoaTrtion Is 
to Jeopcmrfy. 

NOW CN SALr AT 
ALL irJTcRNATlONAL 

newsstands. 


INVEST 2 WEEKS - sr 1 *!: rfcatffi 

ewe. ?z. 'cr*. > 

“wh 1 -econo: o'lr^ r.c~~i ro« 
» -tsrsor pMcy:-. 1 Jcne> 
counf-rtdtf. rrnyv# t-eonil 

V>v =r-;n V^d;sl ”»r. 
in- E»-::r r^.;- •Jc.ic-.-r.g Su-’er 
c5 -- ? -b- 

&GHP9Z2: 


WANTS} DtSTaiBUTOBS «r 

kj c-: =r>^ jn-aae.p %rr- 
pore i ftoc-.; lro.~ xi.— r> 

d'lCk'Jt.u cc-sfai-tr^- 
rtW: V(-:u v,- ?-•—«- <* 


MAjog 

-4V?- • 


CCNSmiCT.ON PlRM 

'■■X-st : ... i’.f/j 

3 a - 


business 

OPPORTUNITIES 


UK & OFFSHORE 

COMPANIES FROM £90 

UX — Wa of Mon Anguilia 
Guemser + Jeney - C-ibrdss 
Libeno + Panama Delaware 
Beadt-mcde or to suit 
hill nominee, odmimst.-onve 
and accounting back-up mdudrig 
bank •WsduStans 

SSfCT COMPANY FORMATIONS 

Mr Ftotacnr. Dcuqte. isle of Mart 
Tel Donate IK241 2371 B 
Tele., P&554 SBxCT G 


OFFSHORE & UK 
LTD COMPANIES 

Incar parctuon and rrortogemMr in- UX 
hie of Man. Turfe. Angela. Channel 
htonds. Fcnarsa. Lib«i >a vd m«i other 
effihare areas 

• Ccnfetennd praiessorrd 
cents 

• intmedrsie o-valatakfi 

• Nomir^e services 

• Boat RegnlrojKvc 

• Accounting 4 edn u a g rarton 

• Mai. rale phone & trim 
Free nptoiotara booklet farm: 

safer CORPORATE 
SERVICES LID 
Head Office 

Ml Pleasant, Douglas, Isle of Mm 
Tel: Doug las 1 06 24) 23718 
Telex 628554 SSfCT G 

Lonaon ieiSfcsentrve 
2-5 0*d Band Sr.. Icndw SI 
Tel 01-493 «44. TU 28247 SC5UJN G 


COMPUTER PORTRAITS 

T-SHIRT FOTOS 
NOW IN Hill COLOR 

■m dl<ash birtmesi that ccn ecm *&' 
S&300 ■ $10,000 month Me-« end used 
systems I’om 510000 ■ $30,000 
feme Deor Ml 2, P-ari*-. 170340. 

6000 Frcnkto- V/ Gfr -rznv. 

Td 066.747808 Hr HIT} XcMA 


IMMIGRATION TO USA 
MADE EASY 

AsorrviS Sec'tar errors -ms B per. 
merwm residence Help-. ■ o icl up 'JSA 
bjontmei S tocores 'o-ntne-o J irritts- 
tod & .-Mtiemal rear esijia Fcr hec 
bracriure wnre- C--^id Hr son. 120t 
C<«e fi . jir iCf' f tewZjon g^cch. CA 
°?m<? UtA. T'-rj '52 (Fx, 


FRAGRANCES 

U5 ^ased ersmenc tfcsj-wee wfwte- 
sct-i seeij e.pa> - sau'Ces ot prettge 
■tame brand tiwjrys.n FUsase te- 
wwd deitnh ConmieniiaLr. .asued. 
T vle- r-i ;SS?V> Cin iwv.Omiin.FOL 
Bo- 102. Unlr t =U:. NJ 07434 IJ5A 


SUCCESSFUL DRY CLEANING rv*.> 
l«jr iilC 'TOO .frW Pnct 

#4K.?X" nsca*i«? ■' ys’ire P'l'ta 
ra.% lint. 'j*w * me.; r.< -.Vni? to 
1 - • '•.•-•-• cr;v w 

rV-: tl : ;■ 


BUSINESS 

OPPORTUNITIES 


HDUC 1 ARY BANKING an large cd- 
kttei dned loans. The ody commer- 
cd bank with a representative office 
m London speaateng m this service. 
Arab Overseas Bank & Trust (Wil 
Ltd. 38 Block Pnnce Kd London SET. 
M 735 BI71 


BUSINESS SERVICES 


INTL 

BEAUTIFUL PEOPLE 

UNLIMITED INC 
UJJl. ft WORLDWIDE 

A complete toad & business service 
prom ding a rngue cdtedion of 
ratomed. versatile & mdttongud 
mdriidudi far: 

ttehtan-CorrvnercidLPrin4 > romal)ons 
Conver/ion-Trode ShowsJ’ress Panes 
Spead EvewsJirtege MaterviHrs 
5oad Hosh+tetoaevEnterroner- 
3oad Compartiam-Tow guides, etc. 

213-765-7793 
212-765-7794 
330 W. 56th Si. N.Y.C 10019 
Service Represenkteves 
TJeeded WorWwde 


OFFSHORE 
LIMITED COMPANIES 
BANKS 

INSURANCE COMPANIES 

Worldwide 

Nammees-Admumnotion 
Readymade or Spoad 

LONDON HEPRES&/TAT1VE 

ASTON COMPANY FORMATIONS 
Depr HK 8 Vienna 5/ 
Douglas Isle of Man. 

TeL 042* 3off)l 
T-tei 637691 SPIVA G 


INTERNATIONAL COMPANY 
FORMATION 

UK ‘Companies from C5 1.OM. Panama 
& a* ma(ar oft shore centers. Full ad- 
rmstralioii. nomnee saonats, powers 
ol ony ne/, rtfj rareied offices. occDjn- 

wncy. confrjeima/ bom oocounrs 
opened ranfidennd telephone. iete>. 
fa> & mailing service, 

e.B.S. L-nvtsd 

43 Comvng Street. Lneroool. LB 7NN 
Tel 051 TtfJ 14S0 H. 638613 BUSSES. 
Fan- 051 709 5757 
Aucaated Offices Wortdvnd.-. 


NEW YORK CITY. Urvque Serwe« 
Md iown Emt S'de, 24-hr Tetedtone 
Arv.wn-Ipq. r rvjmte- c’ ours. 
Mat. 3e-7eirr,al Ccmcsri, Formo- 
tioni. 4 CsnliiieehaLt# feSie •, Recij. 
in, Inc 349 6 S3 St. NY HI t.»*5 
12 13 7 57 -Vo 


FRB9CH HIGH FASHION MODS. 

pj FA r.i— Hvo , c: A.I 
h ** ’•• - *>r- JVT-. 

.-i-t >r l-e-’ ry. T{. 


Printed by fld7 In Zurich (Switzerland) 


FINANCIAL 

INVESTMENTS 


ARBITRAGE. Moor bonk outfwnto- 

na far 


non of cclkden 

actions provided. Rapid.* 
Reasonable London based Tek 
01-244 9592701-385 5492/01930 
8926. Tie: 8951632 TAJKCO G. 


DIAMONDS 


DIAMONDS 

Your best buy. 

Fine dtenonds m any pnce remge 
at lowest wholesale paces 
died from Antwerp 
center of toe dtomond world. 

Fdl gucrantee. 

Far Free pnce fat write 
Jco dton Catdemte to 

GKinLiilAxpad 

EstabSshedTWB 

Pefikaoredroct 62 B-201B Antwerp 
Bdgtam - Tet P2 3) 234 07 51 
Tk. 71779 syf b. At the Diamond Club. 
Heart of Antwerp Diamond mdustry 


OFFICE SERVICES 


PARIS 

■war CHAMPS H.Y5EE5 

R0IT 

YOUR OFRCT 

wrtb al IdcSKw 

LE SATRUTE 8 rue Cepenic 
75116 tea. T* (33 II 7271559. 
Teiet le ujtd 620 18V. 


YOUR OFFICE IN PARIS RIGHT ON 

Tiff CHAMPS &YSEES 

LUXURY SERVICED OFFICES 
Telephone muwenng. Telex. Fax 
secretarial, meeltng roam 
ACTE. 06 Champs Brass Park fth 
Tel: S62 66 «. Tk 649157F 


YOUR LONDON OFFICE 
d toe 

CHE5HAM EXECUTIVE CB4TRE 
Comprehensive range of Servian 
ISO Regent Street, Tendon Wl. 
Tefc (01)439 6288 TU : 261426 


OFFICES FOR RENT 


YOUR HEAD OFFICE IN FRANCE 
PARK 16TH 
DaJy office rentals 
Fegtsnanon with trade aulhoma 
DcnKCiInlion • Tnkitgual wc^etarytota 
ToT *51 77 . We. b\ 72 SP F 


CHAMPS ELYSEES «T0 «n office 
sp-jte Canbedi.ided Newiptesh 

jtoirt ‘3500 vrm tea S 

‘■■in-rut ixiiuica Tei Cap'cd Pt« 
v.?’ Pa... 


REAL ESTATE 
TO RENT/SHARE 


GREAT BRITAIN 


LONDON. BEST AREA, dwt* 2 luxu- 

rious apartments from £200 weekly. 
Tefc 01 -5B9 8223 


PARIS AREA FURNISHED 

At HOME m PARIS 

PARIS PROMO 

APARTMBfTS FOR KBIT OR SALE 

Si Sltf* S63 25 60 

LUXEMBOURG 
LARGE APARTMDIT 

3 bedraana, short term renM, f^SDOQ. 
ABPr 365 11 99 

PLACE VENDOME 
SUPERB APARTMDTT 

3 bedrooms, short term rental, 
P35.000 a month. AEP 265 11 99 

74 OiAMPS^YSSS 8th 

Stutoa, 2 or 3rtsom nxiitumt. 
Ohe month or more. 

IE CLAUDGE 359 67 97. 





i; m ■ TT'iia 


PARIS AREA UNFURNISHED 


l 181 

WSSSN [NEAR ZURICH) 

In best loaolnn, an toore aF toe bewti- 
U LiAe of Woferctodr p0 nds From 
Zurich), in toe medetid tdage of Wee 
sen, we afier to rent an apertmert veto 
2H roam, ?tf qurdty epapmenh, com- 
plete brdxm, with targe army terrace 
+ of comforts: indoor swirenng pool. 

SFJlJOO, 5 yeies or more. 

EMERALD-HOME LTD. 

Dorfstr, CHJB72 WffiSEN . 
T«L CH/ 58431 778 

Tlx 876062 HOME CH. 


EXECUTIVES AVAILABLE 





ISfe^W?rfr5?5S!!HlJ 

YOUNG GBtMAN ACTHSSS, hgWy 
eduaPed toota for or mteieoing poe- 
hon. London 545QQ80. 



PetlmtB 
INTERNATIONAL 
SECRETARIAL POSITIONS 

TUESDAYS 

in th* IHT Classified Section. 


Pkica Your Qassified Ad QaUtdf and Easily 

Jaffa* 

INTHUMAllONAL KOAU) TRIBUNE 

By Phone: Cat your local IHT ro fmmoatno with your tat You 
wffl be informed of the oast ennwSately, and anoe prepaytnerY is 
made your ad wfll appw within 48 hours. 

Coe*; The base rate a -JP.S0 per text per day 4- local tame. Thane an 
25 leiter^ and qxns in toe firat Sne and 36 in the fiaflowtig bus. 
Mnmmt space is 2 hw*. No obbrevteions Q UA ptad. 

Credit Cuds American Express. Diners Oufa Euraoand, Mater 
Card, Access and Visa. 


WADoma 

Ftorfe: (For dassfied ortfy); 
747 - 4640 . 

EUROPE 

Amsterdam: 26-36-15. 
Athens: 361«97/360-3471. 
:343-1899. 

:(D1J 329440. 
ffcmddwf: (069) 7267-55. 
Utvscsme: 79-5SPM. 

Udbata 67-27-93766-25-44. 
Londons (01) 836-4802. 
Madrid: 455-2891/4553306. 

MW (037531445. 

Notomr- P9 845545.. 
Rome: 679-3437. 

Sweden: 08 7569229. 

• Tel Awftrt 03-455 559. 

. Vienna: Contact Frankfurt 

UNfTB) STATES 

New Yoriu (212) 752-3890. 

: (415) 362-8339. 


LATIN AIWHUCA 

Bogota: 212-9606 
Beenae Aires: 41 4031 
(DVL312) 

Guayaquil: <31 943/431 
Lena: 417852 
Panamm 644372 
Sat Joe* 22-1055 
Santiago: 6961 555 
Sne Aerie: 852 >893 

MIDDLE EAST 

Bahrain: 246303- 
Jwrdwe 25214. 

Kewtrih 5614485. 
Ubatm 34Q044. 
Qatar: 416535. 

SamS Anriria: 

Jeddrfa 667-ISOa 
ILAi: Dubai 224161. 

MR EAST 

Bangkok: 3900667. 
Hang Kong: 5-420906. 

" 8170 


r 0749. 
Seoah 7258771 
Sk^Mpm 222-2725. 
Tahwan; 752 44 25/9. 
Tokyo: 504-1925. 

AUSTRALIA 

Sydney: 929 56 39. 
Me lh o urti e . 690 8233. 



SECRETARIAL 
POSITIONS AVAILABLE 


SECRETARIES AVAILABLE- 

GR- THE CREME DE LA CREME terrv 
psrary hdp people reauit bSngpol or 
b^sh nwtoer tongue s emtaia. 
rare r jo ot 30 . 

EDUCATIONAL 
POSmONS AVAILABLE 




ALWAYS AVAUABLfi LONDON only 
bohymindart A Iri doss drily mods. 
CoS Sksone Bureau, London 730 
8122 / 5142 . UC6VP. AGY. 


AUTOMOBILES | 



AUTO RENTALS |* 


AUTO SHIPPING |j 



AUTO SHIPPING 


HOW TO IMPOST A B/ROPEAJf 
„ j CAR B4TO THE UAA. 
lw document explaim nfly what one 
must do to bring a a* into the Ui 




* ri. 


'-•r-Aft 

'--.li/rj' 

■- :/x-s: 

% • • .-w- 

•r'-T5c 

r-t 

v y V-.' 


¥ : i: 






'TtVJ 

•-41. 


• - -V-*... 

rS 





1RAN5CAR 20 rue Le Smut, 75116 

Ptwk. Tefc 500 03 04. hfe* ^ 95 33. 
Aetwwtp: 233 99 B5. Gonna: 39 43 44- 


AUTO CONVERSION 


VIA 

. , Centre, Baki- 

T S --^MD21ZMTi : 3016&8611. 

faBetewiL Tel: 32-50715071. Tbt 
82209. 




AUTOS TAX FREE 


idv ncey rd 

The Mtek Eon 

WORLD CAR 

* NOW LOOKMG FOR 

CAR IMPORTERS 

' M THE USA 


WORLD CAR 

is# ffjgawsas - 


PAGE 13 
FOR MORE 
CLASSIFIEDS 


y.j F; 

V-j'yii 

!-i J,. 

: rrX‘4 
r* d*. 


£ i'=3 r 

m ^ r j 


* 




f 


VAN CLEEF & ARPELS 

— WORLD FAHOl'fr JEWELLERS 

EXCLUSIVE JEW ELS £ W ATCHES 

LONDON 

153 NEW BOND STREET. 

TEL: 01-191 l-WS TELEX: 260265 


il 3. 


,t r 






. . Tr'r'.'.TrT"...-?’ ^v*^ J > ; ^ l S' l t v ft ii