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.(■' ' Global Newspaper 

S Edited in Paris 

l tinted Simultaneously 

' 'Ik h Paris, London, Zu r ich, 

I * |Ln£ Kong, Singapore, 

\ Hague and Marseille 


INTERNATIONAL 


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** 


PARIS, WEDNESDAY, MARCH 27, 1985 


ESTABLISHED 1887 




’Pollution Levels 
•S. Survey 


f Stuart Diamond 

. few York Tima Senior 

' ' YORK — The first sys- 

* survey of tone chemicals 
mitted into the air in the 
• Stales has found hazardous 
■. 01s ai far higher levels and at 
f lore locations than suspect- 
ording to a congrcssuxial 
/. deased Tuesday. 

! •: i’^airvey of 80 large chemical 
“ - *'iies found that thousands of 


tons of cancer-causing agents and 
other hazardous materials are be- 
ing released into the atmosphere 
from hundreds of factories. There 
are no uniform s tandar ds to con- 
trol the emissions of most of the 
substances, the directors of the 
study said, and some of the materi- 
als are subject to no regulations. 

u No government agency has ever 
attempted to gather this informa- 
tion, and the information we re- 


wesHas 3d Operation 
Effort to Stop Bleeding 


T4M 

U# 

mO* 


: f J 
M.W 


*■** - v ■ 




Ur.-::: 

..•V *• - • 

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rated Press International 

s * t_ ‘ !y ; PAULO — Presidait-dect 
■ rf“ lo Neves of Brazil under- 
■ thir d jn te sti tial operation 
> y after doctors faSea to stop 
-■ .^.bleeding resulting from the 
;,: s an^y. 

' : SnQienne Rodrigues, cfirec- 
the Heart Institute of the 
-.■• r \ Hospital trf Sio Panic, said 
; : ; sling was “not a very com- 
' jst-tqjerative Conmlication** 
doctors “worried.” He said 
■ _• . as apparently no rupture of 
^ . .stine. 

esidential spokesman, com- 
g while Tuesday’s surgery 
...progress, said, “The satua- 
. .7. made more serious by the 
' it the patient is 75 yean old, 
1 three operations in 11 days 
“• iV - i been stuffed full of drugs ” 

1 ~~ ~ V.an Catholic QiTdwial Panin 

■: o Arns, archbishop cf SSo 
-.irriv'ed at the hospital late in 
.emoon and said, “I was 
lere to pray.” 

.first operation March 15 
■ ued Mr. Neves from tatting 
ih of office that day as the 
/iHan president of Brazil af- 
_years of militaiy rule. The 
^ nt-eiect underwent a second 
-m last Wednesday to re- 
K blockage that resulted from 

. i surgery. 

"was flown 600 miles (960 lri- 
re) Tuesday from Brasilia to 
'-v :a]ital in Sio Paulo, which is 
be die best in Latin Ameri- 

. .an official statement on his 

• ion before the surgery, doc- 
ti Mr. Neves’s “general stale 
I" and that he was lurid and 
1 'fever. 

rs for Democracy 
Hian pditirians fear that the 
•eves's illness could be a 
to democracy. Agencc 
:r , : -Presse reported from Brasi- 

-Neves is popular with both 
'-ans and the voters. His ab- 
;aves a political vacuum, for 
" ng president. Vice President 



Tanaredo Neves 


Josfe Samey, 54, lacks Mr. Neves’s 
political Intimacy. 

Mr. Sarney holds the vice presi- 
dency because of a deal between 
the ruling Brazilian Democratic 
Movanent Party and di gadgnt s of 
the Social Donocratic Party, which 
was backed by the outgoing mflj- 
taiy regime, to ensure that Mr. Ne- 
ves’s dectitm wait smoothly. Mr. 
Samey is a former bead of the So- 
cial Democrats. 

Under the constitution, Mr. Sar- 
ney could remain in the presiden- 
tial palace for the four years of tie 
head of state’s mandate. 

This seems unlikely, for Mr. Ne- 
ves has promised to convene a con- 
stituent assembly in 1986 to restore 
presidential election by universal 
suffrage. He was chosen by the na- 
tional Electoral College. 

The key figure now is Ulysses 
Gmmaraes, president of the Demo- 
cratic Movement, who is also presi- 
dent of the Chamber of Deputies. 
Mr. Gmmaraes eased the path for 
Mr. Neves by keeping Democratic 
Movement radicals quia. Because 
he has the president-elect’s confi- 
dence, he might be able to negoti- 
ate an end to the deadlock. 


cetved is not reassuring," said Hen- 
ry A. Wax man, a California 
Democrat who ordered the survey 
as chairman trf the House Snbcom- 
mittee on Health and the Environ- 
ment. 

“Almost every chemical plant we 
received information about is re- 
leasing' staggeringly high rates of 
hazardous chemicals, even in rou- 
tine releases," he raid. 

Mr. Waxman «»d he planned to 
use the results to develop legisla- 
tion far national standards to con- 
trol the toxic materials 

The impetus for the survey 
stemmed from disclosures that no 
reg ul a t ions controlled die release 
of methyl isocyanate; the substance 
that killed more than 2,000 people 
in Bhopal, India, an Dec. 3 alter an 
accident at a Union Carbide pesti- 
cide planL 

There has been great interest in 
(he survey because no national in- 
ventory has ever been taken of tox- 
ic chemicals emitted into the air, 
regulators said. 

The U.S. Environmental Protec- 
tion Agency last month surveyed 
Kanawha county in West Virginia, 
around a Union Carbide plant sim- 
ilar to the Bhopal plant It found a 
spectrum of toxic substances in a 
region where some preliminary 
data have shown highftr - tban-nnr - 
mal numbers of cancer deaths at 
sdected sites. 

Detailed questionnaires were 
sent in late January to 80 of the 
largest chemical comp anie s asking 
them to list the amounts of proven 
and suspected carcinogens and oth- 
er hazardous materials being re- 
leased to the air. A total of 67 
companies responded, about SO of 
them in de tail 
sand pages 
made available to The New York 
Times. 

Many of the high discharges oc- 
cur in areas of the country associat- 
ed with refineries and petrochemi- 
cals, the survey found. Among 
them are Louisiana. Texas, New 
Jersey, Ohio, Kentucky and West 
Vugmia. In general, those areas 
have been associated with Mgher- 
than- normal incidences of cancer, 

denoe ^ 

The survey also found a wide 
variation in safety planning by 
chemical companies. Some com pa- 
tties disclosed detailed plans to 
handle emergencies; others had 



U.S. Asks Allies to Share 
Space-Defense Research 

Soviet Blames 
U.S. in Death 
Of Officer 


Prominent South African church leaders leading a march 
in Cape Town Tuesday. From left to right, AbdHendriks, 
Aflan Boesak and Beyers Nande. They were later arrested. 


Church Leaders Held 
In South Africa Protest 


Ream 

CAPE TOWN —Police arrested 


Also held were other churchmen 
and Sheena Duncan, president of 


By Dusko Doder 

Washington Past Service 

MOSCOW — The Soviet gov- 
ernment said Tuesday that a Soviet 
sentry was justified in shooting a 
UA Army officer in East Germany 
and asserted that the United States 
was responsible for the incident. 

According to an official state- 
mem, the senuy warned the officer. 

Major Arthur D. Nicholson Jr_ in 
Russian and German and then 
fired a warning shot in the air when 
he tried to escape from a restricted 
area in which he was photograph- 
ing military equipment. 

“Since the intruder did not stop 
evoi after this, the senoy had to use 
his weapon.” the statement, dis- 
tributed by Tass, said. “He fired 
and killed the intruder.” 

The United States has rejected # t T • 
accusations that Major Nicholson rUlTl'f* I Itlitfi 
was acting improperly and Asris- UUllfl 

tarn Secretary of State Richard R. oi 
Burt equated the officer’s slaving AllOWPn OT1 
| with murder. x 

The Soviet statement described -n | O • 1 

Horn bides 

ity for it rests fully on the American 
side.” 

It was the first formal public 
statement cm the death Sunday of 



Short-Range 
Nuclear Arms 
May Be Cut 


Arthur D. Nicholson Jr. 


By William Drozdiak 

Washington Peat Service 

BONN — The slaying of a U.S. 
Army major by a Soviet guard in 


n_Thesevcral Sou- 239 dananstrators who marched the Black Sash civil ngfrts group, Nicholson, 37, who was a Army major by a Soviet guat 
of dlLSSts wSe on Parliament^ a protest Tuesday ' the South African Press Assotia- attached to the VS. military mis- EagGennany Sumky puts a 
-n._ vt i. against the killina of 19 blacks last don reoorted PnlirK raw nn nimis **0° tu Potsdam. public spotlight on the actmtii 


is certainly unprecedented 
upd potentially very useful in help- 
ing us to set priorities about what 
to regulate,” raid David R_ Patrick, 
chief of the pollutant assessment 
branch in the EPA’s Office of Air 
and Radiation in Research Trian- 
gle Park, North Carolina. “We will 
be able to find out if there are 
pollutants we have missed in our 
evaluations. And we certainly 
(Continued on Page 2, CoL 3) 


against the killing of 19 blacks last 
Thursday in eastern Cape Prov- 
ince. 

Those detained included three 
prominent church leaders, the Rev- 
erend Allan Boesak, the Reverend 
Beyers Nande and the Reverend 
Abel Hendricks, police and wit- 
nesses said. Reporters saw the dem- 
onstrators kneel on the ground and 
sing hymns and protest songs when 
confronted by police; 

Mr. Boesak, who is of mixed 
race, is president of the World Alli- 
ance of Reformed Churches and a 
founder of the United Democratic 
Front, a coalition of organizations 
opposed to South Africa's race seg- 
regation policy known as apart- 
held. Mr. Nande, awhile, is general 
secretary of the Smith African 
Council of Churches. Mr. Hen- 
driks, also a while, is a former lead- 
er of the Methodist Church. 

Police said that those arrested 
were being held on charges of at- 
tending an illegal gathering under 
the Internal Security Act, which 
forbids most outdoor demonstra- 
tions, and would appear in court 
Wednesday. 


rare 
activities of 


By Barr)- James 

United Press Internment:! 

LUXEMBOURG — The U.S. 
defense secretary, Caspar W. Wein- 
berger. invited 18 allied nations 
Tuesday to participate in the mulli- 
bUlion-aoUar research for Presi- 
dent Ronald Reagan’s space-based 
anti-missile defense plan. 

Ministers attending NATO's 14- 
nation Nuclear Planning Group 
meeting also heard a report from 
General Bernard W. Rogers, the 
alliance’s supreme commander, on 
a secret plan to reduce the number 
of short-range nuclear weapons in 
Europe and modernize those that 
remain. 

Under the Rogers plan the num- 
ber of weapons would be reduced 
from 6,000 to slightly under 4.600 
by the end of 1988. 

A senior U.S. official said the 
plan involves the redeployment 
and modernization of the nuclear 
forces remaining once the reduc- 
tion is carried oul No other details 
were available. 

The official said Mr. Weinberger 
sent letters to the governments of 
14 NATO nations represented at 
the meeting, as well as to France, 
Japan, Australia and Israel, asking 
for panicipation in Mr. Reagan's 
Strategic Defense Initiative, popu- 
larly known as “star wars." France 


tion reported. Police gave no names withdrew from NATO’s integrated 

of those arrested. _ _ The surement charged that the eh* mtem^mce imits operat- ^ mmnnrf in 1964 Init ne- 

The minister oflaw and order. “arculatmg a “8 “East and West Germmy out - m olber p3Ct aaivi . 

Louis LeGrangtTm^Se,^- **!>»»«* >™o” of the by “ e m 0mCT ^ aaw 


iq Used Poison Gas 
ainst Iran, US. Says 


riari.il t 5 *' 


* 

m Z 


Bernard Gwertzman 

I lit -11* Vew York Times Service 

— -7HINGTON — U A inteffi- 

■ ' nalysts have concluded that 
_ .. ed lethal chemical weapons 
Bing Iran’s latest offensive 
'outhero sector, administra- 
Irials said Monday, 
was publicly condemned by 

--ited States in March 1984 

■\g poison gas against Iran. 
I. - ‘ ,ce then, there bad not been 
• ' v reports until Iran accused 

st week of having resumed 
•' : xdsongas. 

flew purported victims of 
acks to Austria and West 


the use of chemical weapons, in 
violation of international conven- 
tions, wherever and whenever such 
use may occur." 

When Mr. Aziz was asked by 
reporters later whether Mr. Shultz 
had me nti on ed chemical weapons, 
the Iraqi said, “1 don’t recall that.” 

Iraq has denied ifa» it has used 
chemical weapons ever since the 
question was first raised last year. 

There was no immediate expla- 
nation why the United States did 
not publidy disclose its informa- 
tion about Iraq’s use of chemical 
weapons. One official said he be- 
lieved there was a desire not to 
embarrass Mr. Aziz. Another offi- 


**v>.*^*- 

- y*. >* 

A*. • : ► 


m+t n 




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.! i*** • ■ 




ny, where some doctors 

dal said the govenoment wants to 
.. ^ vkr attack bfmustaid ga£ avoid comprotmang i nt el l ig ence 
i ' , ‘ i ting agent that damages any <! " trt * s 
t touches. 

aT *_, American official said pre- 
* : ” ' y evidence indicated that 
f ps were using mustard gas. 
s use of chemical weapons, 
itrarion of ficials say, is in 
n of the Geneva Protocol of 
a which Iraq agreed to ad- 
1931. 

rtary of State George P. 
conferred Monday at the 
tepartmem with Tariq Aziz, 
ji foreign minister, who had 
the United Nations in New 




r 

ili 


;SSI5TANT 1 

i % ' te 


o 


r the session the State De- 
nt did not specifically ao- 
aq of using chemical weap- 
officials who asked not to 
_ ted said intelligence analysts 

Va- > doubt that Iraq was using 
■*'. ^mical agents again. 
t-t ard Kalb, the State Dcpan- 

l ■* " adtesman, said: 

not going to get into the 
- nature of the evidence that 
.■able to the United States at 
. jPV'sent time; Let me say this, 
\ that the Iraqi government 
^ aware of the fact that the 


sources. 

Administr ation official* said the 
United States believes that Iran is 
mainly to blame for the continua- 
tion erf the 54-month-old war and it 
is trying to bring as murii pressure 
os possible on Iran to end the war. 
Iran seems to befieve that by rais- 
ing the chemical weapons charges, 
it can gain public support 

Mr. Kalb said: “We are interest- 
ed in Iraq's ideas fen - international 
efforts, especially at the United 
Nations, to bring the earliest and 
most comprehensive end to the 
Iran- Iraq war and the human suf- 
fering it continues to cause. The 
United Stales firmly supports prac- 
tical and balanced inte rnatio nal ef- 
forts toward this urgent objective.” 

In March 1984, American offi- 
cials and that Iraq imfl been timng 

mustard gas and that Iran had been 
using nerve gas and was building 
up a capacity for full-scale chemi- 
cal warfare attacks. 

As a result, the United States 
announced that it was inn 



ed the blade the townships around 
Uitenbage where unrest has result- 
ed in 10 additional deaths since 
Thursday's shooting. He said that 
the unrest “is not a crisis situation 
tat it is very serious and it is getting 
the full attention of the govern- 
ment." 

Tuesday’s march followed a mul- 
tidenommational church service in 
memory of the Uhenhage dead at 
which an Anglican priest from Ui- 
tenhage, the Reverend Mxolisi 
Daba, said that at least 45 people 
died whan police, opened.fiie on 
protesters there last Thursday, not 
19 as stated by the authorities. 

“God says to South Africa here 
and now, stop killing peqrle, stop 
kQEng our children,” Mr. Data 
shouted from the pulpit with tears 
running down his dieeks. 

“This system of government un- 
der which we live has got to be 
challenged and wiped out," Mr, 
Daba said. “In Uitenhage we say. 
“God be with you, for we are ready 
to die.” 

Hundreds of mourners, black 
and white, sang songs and raised 
clenched fists in blackpower sa- 
lutes in the church. The wiatr'h J 
which followed, was led by Mr. 
Boesak. Mr. Nande and Mr. Hen- 
dricks, chairman of the Methodist 
synod in Cape Province. 

The march was the one of the few 
instances of deliberate civil disobe- 
dience since SharpeviHe massacre 
in I960 when police killed 69 
blacks. South African authorities 
have been considered too intoler- 
ant for attempts s»eh acts of pas- 
sive resistance. 

The protest in Cape Town indi- 
cated increased anger and boldness 
on the part of blades and a sense 
that the wodd attention now fo- 
cused on South Africa is affording 
black protesters a measure of pro- 
tection. 

The marchers were heading lo- 

f Continued on Page 2, CoL 6) 


incident. The Soviet Embassy in 
Washington, it added, bad lodged a 
strong protest. 

The tone and substance of Tues- 
day’s statement suggested that the 
ineideat had placed the Soviet lead- 
er, Mikhail S. Gorbachev, in an 
awkward situation and that Mos- 
cow was hoping Soviet- American 
relations would be unaffected. 

Mr. Gorbachev attended the 
opening session Tuesday of the Su- 
preme Soviet of the Russian Feder- 
ation. Only he and Foreign Minis- 
ter Andrei A. Gromyko were seated 
in the from leadership beach; other 
Politburo members were in the sec- 
ond and third rows. 

The statement on the shooting 
appeared designed to make the So- 
viet case quickly and forcefully and 
thus to prevent the advene propa- 
ganda that followed the shooting 
down in 1983 of a South Korean 
airliner over Soviet territory. 

According to the Soviet version 
of the incident. Major Nicholson 

(Continued on Page 2, CoL 4) 


the four wartime Allied powers at 
the end of World War II. 

“There's no question that the 
lives of these liaison officers re- 
volve around being hassled," a U.S. 

Hie US. Embassy in Moscow 
was bugged by the Soviet Union 
for at least a year. Page Z 

diplomat said. “But this incident is 
a much more serious matter. Kill- 
ing somebody is not playing by the 
rules." 

Experts say the officers attached 
to each military liaison mission 
gather some of the best on-site in- 
telligence to be found along the 
Central European front. They are 
usually equipped on their rounds 
with high-powered binoculars, in- 
frared cam eras and Listening de- 
vices. 

The practice of using the liaison 
missions as mobile military obser- 
vation posts has been maintained 

(Continued on Page 2, CoL 3) 


ues. 

The official, speaking on the 
condition he not be identified, said 
Mr. Weinberger asked the allied 
governments to reply formally 
within 60 days whether they are 
interested in participating in the 
$26 billion, five-year program to 
research a defensive shield against 
incoming missiles. 

Mr. Weinberger’s letter also 
asked the nations to tdentifv the 
areas in which they would be best 
qualified to contribute, the official 
said. 

The U.S. government plans :o 
open negotiations with interested 
nations, both to distribute research 
contracts and to place rigorous 
safeguards on the transfer of tech- 
nology, the official said. 

Mr. Weinberger assured the al- 
lies the research would be con- 
cerned with defenses against the 
short-range ballistic missiles that 
most concern them, as well as the 
intercontinental missiles targeted 

(Continued on Page 2, Col. 5) 


The Astoboted ftm 


Sitting in front of ajacture of Ayatoflab RnhoBah Khomei- 
ni, Sayyed Jalal Sadaifen, the charge d’affaires at the 
Iranian Embassy in London, charges Ira«t with using chemi- 
cal weapons to repel the Iranian offensive in the Golf. 


;ovemment strongly co 
sthal chemical 


con- 

tile use of lethal 
u and feds there is nojusti- 
i for their use by any coun- 


yokesman said that Mr. 
m the meeting with Mr. 
riterated “the absolute firm 
tion of the United States to 


restrictions on the sale to 
five chemical compounds that 
could be teed in making mustard 
gas or nerve gas. 

The European Community and 
Japan later mid that they, too, were 
putting controls on the export of 
those chemicals, but admntistra- 
tion officials said Monday that 
there was evidence that there had 
been violations by some Western 
companies. 


Fart of the evidence, in fact, for 
the conclusion that Iraq was using 
the gas was based on shipments to 
Iraq of chemicals vital for poison 
gas production. 

■ New Raids in Gritf 

Ac Iraqi plane attacked on Tues- 
day two separate areas in industri- 
alized southern suburbs of Tehran 
near the city’s oil refinery and ce- 
ment works, kdHng nine persons 
and wounding 14, according to the 
Iranian news agency ERNA, Reu- 
ters reported from Tehran. 

Tbe Islamic Republic newspa- 
per, which generally follows Aya- 
tollah RuhoMi Khomeini’s line, 
said that an Iranian “deterrent 
measure” against ports of Gulf 
Arab states s up p or t in g Iraq in the 
war seemed inevitable. 


In a separate dispatch from Bah- 
rain, Reiners reported that Iraq 
confirmed the raid on Tehran and 
said its planes attacked tbe dries of 
of Hanradan and Kermanshah in 
western Iran and hit two drips in 
tbe Gulf. 

Shipping sources in the Gulf said 
a Panamanian merchant ship, the 
14,650- ton Cape Gwadar, reported 
that it had been crippled in a rocket 
attack in the center of the Gulf, 
about 55 miles northeast of the 
Saudi Arabian port of Jubafl. No 
casualties were reported. 

The attack followed a reported 
Iraqi raid on Kharg Island, Iran’s 

main q£[ terminal t |q which Iran 

said three Iraqi planes were shot 
down. Iraq denied losing any air- 
craft and did not directly confirm 
the raid. 


INSIDE 

■ Vernon A. Walters accepted 
the position of UN delegate, 
but without a seat on the Na- 
tional Security CountiL Page 3. 

■ General Electric expects to be 
indicted on defense-connected 
fraud charges. Page 3. 

■ Ptesadeot Reagan said the 
Sandinist leaders in Nicaragua 
have become puppets of Rns- 

giaanrt fbifr*. Paged. 

■ PLO f actions allied to Syria 

formed a coalition to seek to 
block Middle East peace nego- 
tiations. Paged. 

■ George London, the baritone 
opera anger, died at 64. Page 4. 

ARTS/LEISURE 

■ Valentino and Ungaro deliv- 

ered polished' ready-to-wear 
collections exemplifying the 
couture spirit P*ge5. 

■ “Amadeus” woo right Oscars, 

including including best pic- 
ture. Page 24. 

BUSINESS/FINANCE 

■ The Bundesbank bead said 
foreign banks should be al- 
lowed to lead-manage Deut- 
sche-marie Eurobonds. Page 17. 

■Japan has ordered new con- 
cessions to open its markets to 
foreign imparts. Page 17. 



Tha ABoomd Fto, 

President Reagan meeting with Ms chief aims negotiator. Max M. Kampehnan. Mr. 
Kampefman joined the president in a lobbying campaign to win approval of the MX missile. 

O’Neill Says Reagan Gaining MX Votes 


The Associated Prat 

WASHINGTON — Thomas P. 
O'Neill Jr„ the speaker of the 
House, said Tuesday that an inten- 
sive lobbying effort by President 
Ronald Reagan has won over at 
least six Democratic representa- 
tives in the battle over the MX 
missile; perhaps enough to ensure 
victory in Tuesday evening’s vote 
on producing 21 more of the inter- 
continental weapon. 

Mr. O’Neill, a Massachusetts 
Democrat did not concede defeat. 
But he said the final tally would be 
extremely close and that a loss for 
MX opponents would be due to 
“the power of the White House, the 
power of the presidency." 

The speaker said that, at midday 
Monday, be had counted 195 Dem- 
ocratic votes and 21 Republican 
votes agafn ci spending an addition- 
al Sli billion to produce a second 
group of 21 MX missiles. 

He said he thought he “had it 
won.” With two vacancies in the 
435-member House; the 216 votes 
Mr. O’Neill had counted would be 


chief arms control negotiator. Max 
M. Kampelman, Mr. O’Neill said, 
“I think I’ve lost six Democrats 
since then and probably some Re- 
publicans. Today, we’re working to 
see if we can recover from that." 

Mr. O’Neal said the White 
House is going beyond reciting ar- 
guments in favor of tbe nrissDe sys- 
tem. 

“They have a pretty good target 
of what members arc looking for," 
he said, adding that the White 
House effort has left many mem- 
bers feeling they “can do their 
home areas some good” by voting 
for the missile, 

Mr. Reagan told a group of more 
than 100 House and Senate mem- 
bers gathered in the East Room of 
the Write House that, "If we don’t 
want to see our hopes evaporate, 
we must continue to demonstrate 
the restrive to carry the negotiations 
to a successful conclusion on a 
sound basis.” 

“If we fail, well be signaling to 
the world that on this issue we are 


Mr. Kampelman was ordered 
home from Geneva to try u> per- 
suade about 20 uncommitted 
House members to support the re- 
lease of S1J billion to build the 21 
missiles. He returned to the talks 
immediately after bis speech. 

Mr. Kampelman, speaking of 
Soviet leaders, said. “Because as 
they enjoy the apple that falls from 
the tree that they did not have to 
pay for, they quite understandably 
wonder what other fruit will fait 
from the tree that they do not have 

to pay for." 

Mr. Reagan, who wants to build 
and deploy 100 MX missiles in alL 
said an MX defeat would also 
erode the confidence of U.S. allies 
in Europe, who faced down anti- 
missile movements to proceed last 
year with deployment of medium- 
range U.S. Pershing-2 and cruise 
missfles. 

“We asked them to walk through 
fire and brave a storm of Soviet 
propaganda and not-so-veiled 
threats, and they did,” Mr. Reagan 
said. “For us to back down now on 


irresolute and divided,” Mr. Rea- 

Mjr.u-«etiiaaa counted [would be gan said. “And the Soviet Union Peacekeeper deployment will "ddiv- 
MJyoneshortof amajcmiy wnhall win see that, in dealing with the er a tefling blow to our allies’ coafi- 
mtmbers voting. United States, propaganda and dence in us." The Peacekeeper is 

Bui on Tuesday, after intense stonewalling are much more profit- the administration's term for tbe 
lobbying by Mr. Reagan and his able than good faith negotiations." missile. 


i *• 

*. i * 


j • s, 









Page 2 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 




Soviet Aide Gtes 
'Correctness’ of 


Hungarian Policies 


The Associated Press 


BUDAPEST — Grigori V. Ro- 
manov, a member of the Soviet 
. Politburo, acknowledged Tuesday 
the “correctness” of Hungarian 
policies and indicated that the 
Kr emlin sought some economic re- 
forms similar to those of Moscow’s 
. most liberal European ally. 

Mr. Romanov, ad d ressing Hun- 
gary’s 13th Communist Party Con- 
gress, repeatedly emphasized the 
economic unity of the Soviet Union 
and its allies. Bat he spoke favor- 
ably of Hungarian developments 
that have made this country a fore- 
runner of economic change in the 
Soviet bloc. 

“Hungary has built a new world 
in dose unity with the Soviet 
Union,” he said. “AH that has been 
accomplished proves the correct- 
ness of our chosen road.” 

The Soviet leader, Mikhail S. 
Gorbachev, reputedly favors cau- 
tious reforms of the Soviet econo- 
my. Mr. Romanov’s comments 
here appeared to mesh with Mr. 
Gorbachev s image as an economic 
pragmatist. 

Speaking of Soviet economic 
“tasks ahead,” Mr. Romanov said 
that em phasis must gi ve n to: 

• Further modernization of the 
economic mechanism; 

• The broadening of the autono- 
my and responsibility of compa- 
nies; 

• The increasingly broad partici- 
pation of workers in the manage- 
ment of production and the more 
consistent application of the prin- 
ciples of remuneration according to 
performance. 

In Hungary, state-ran industries 
have a great degree of autonomy 
and increasingly operate on profit- 
ability. There are also growing at- 
tempts to tie wages to performance. 


Several Hungarian analysis 
pointed to the similarity of Mr. 
Romanov’s remarks and actual 
policies here. One of them said that 
Mr. Romanov's comments 
amounted to a “ringing endorse- 
ment” of Hungarian economic re- 
forms. 

Informed Hungarian sources 
also attached importance to Mr. 
Romanov’s comments on relations 
among Soviet bloc Communist par- 
ties. 

“There is no room for the impo- 
sition of one’s win on the other. Tor 
superiority and inferiority." he 
said 




Soviet Bugged 
Typewriters at 
U.S. Embassy 
In Moscow 


WORLD BRIEFS 


Vietnam to Free U.S. Businessma 


UNITED NATIONS (UPI) — Vietnam will release an An 
businessman. William M. Mathers, who was seized on his yacht* 
since last July, a United Nations spokesman, Fraopis Gmbg 
Tuesday. 

The Vietnamese am b assador, Le Kim Chung, informed 
taiy-Genexai Javier Ptitt de Cufflar Monday that Hanoi would 
Mr. Mathers between March 29 and April 9, Mr. Giuliani said. 

Mr. Mathers, who was living in Singapore, was jailing aboard: 


■ Warning on lies to West 

Mr. Romanov warned Moscow’s 
allies that their links with the West 
must be limited, Reuters reported 
from Budapest. 

In bis speech, he said that trade 
with the West must not allow what 
he called imperialist forces to grin 
political leverage ova- Communist 
states whose interests were best 
served by cooperating with each 
other. 

•The national interests of Social- 
ist countries can be implemented in 
no other way than by strengthening 
the whole community,” he said 


Andrei A. Gromyko, left, with Mikhail S. Gorbachev. 


Vm 


Elite Units 
Allowed on 
Both Sides 


Soviet Statement Says 
U.S. Caused Shooting 


By David Hoffman taty-General Javier Pfctt de Cutilar Mowfay tint ; Hanoi would 
w^hngron Post Service Mr. Matters between March 29 and Apnl 9, Mr. Giuliani said 

WASHINGTON — The U.S. Mr. Mathers, who was living in Smgapare,wa3 sailing aboard : 

Embassy in Moscow was bugged in Vietnamese waters when the vessel was seized and Vietnameses 
by the Soviet Union for a year and ties charged he had no ^permission to » enter tnar lemtonri find 
possibly longer with sensing de- crew was released but Mr. Mathers. 41, was odd at Can Tho u 
vices capable of pricing up what Vietnam. Mr. Giuliani said 
was written on embassy typewrit- 

0ffidals Taiwan Intelligence Chief Is Indict 

CBS News said the eavesdrop- TAIPEI (AFP) — The head of Taiwan’s military inteSmence 
ping was a “sophisticated electron- was indicted Tuesday as an accomplke in the murder in Cahfa 
ic spy operation which gave Soviet Oct. 15 of Hesuy Liu, a Chinese- American author and a critic 
leaders an inside look at what U.S. Nationalist Chinese regime. 

diplomats were doing and plan- Vice-Admiral Wong Hxi-ling, 58, was charged with being " 
nine.” principal offender, a full accomplice" in the murder of Mr. Liu, w 

The television network said Sovi- shot outside his home in Daly City, near San Francisco. Admiral 1 
et agents installed tiny wiring de- deputy in the intelligence bureau. Major-General Hu Yi-nang, a 
vices in about a dozen embassy department head. Colonel Chen Hn-men, were also named in the 
typewriters. “The devices picked ment on charges of having assisted in the pan nier. 
up the contents of documents The indictment, drawn up by military prosecutors, charge 




>n J ** 

• 4* 


up the contents of documents The indictment, draws up by military prosecutors, charge 
typed by embassy secretaries and although Admiral Wong denied ordering Mr. Liu's death, he i 




transmitted tiw*" to antennas hid- “unspecific intent in connection with the collaborated offense of 
den in the embassy walls,” he re- tide" in discussing the action with Chen Chi-ti, 41, the alleged le 
ported. Taiwan’s largest underworld syndicate. Mr. Chen and W u Tun, 35 

. j •_! _ ■ , p ur W_ T A ..MM* Tii.ii ViuLm I. k.'.. 


UN Agency 
Urges Staff to 
QuitLebanon 


(Continued from Page 1) and his driver. Sergeant Jess 
by the four powers despite the ere- Schatz, were on a Soviet no 
ation since the war of two sovereign installation near Lndwigslns 
German states. The governments in spite “clearly visible war 
Bonn and East Bedm have no ofG- signs ” that access was profafl 
rial ties with the four-power mis- Major Nicholson was describ 
sions, which are accredited only to “wearing camouflage gear” 
«>rii other. he approached a storage fat 

The UiL-Soviel accord, signed opened a window and began tj 
in 1947, and others signed by the photographs. 

Soviet Union with Britain and The Soviet sentry, accordh 
France, gives each side an outpost the account, d eman d e d in Rn 
and travel righ ts in the other side’s and German that the intruder 
o ccup ation zones in Germany and “When the latter failed to co 
the right to accredit 14 officers and and tried to flee, the sentry fi 


svl I'Cb ported. Taiwan’s largest underworld s ynd icate. Mr. Chen and w u Tun, 35 

C' An administration official cm- trial for killing Mr. Liu. A third suspect, Tung Kuri-sen, is being 

(Continued from Pay 1 ) before and said that Moscow had firmed Monday that the embassy absentia. 

.. - ^ , T . n repeatedly conmlameri to Wash- had been “penetrated” by “lifting 

Reagan Shifts Tone on Defense Ci 

spite “clearly visible warning h— — J nn Man4i 1A nmH. cniw tinv aon anH lwwn WASHINGTON (WP) PlrM|leU ^Ronrid 


MWT 


JW 


. . . aangerous namre or suen actions. aooui n. ine ouiciai saia me 

mstaii^ioii Mar Ludwigdnst de- “The tragic outcome of what eavesdropping was discovered 


s P* te „ t clea ri y v isible waning hropened on March 24 is regretia- some time ago and had been 

ble but the entire respcnrihhiy for suwped. 

M^orNIcndson was described as j t lies fully on the American side," <-BS reported that die antennas 


willingness to reduce defense spending neat year, as long as it < 


“compromise national security. 

The president told a group of reporters Monday that he was “cor 
‘ in line" with the comments of the White House chief of staff, Dcr 
egan, on Sunday opening ihew*ay to a possible compromise with ’ 


it lies rally on the American side,” . CBS reported that tte antenm* toWagrouprf reporters Monday that he was' “cor’ 

hnSSTKfA the statement said. m the embassy walls “relayed the tyin lirie” with tire oonSents of the While House chief of siaH,Do- 

opcJSawS^wandton^Sg ■ Webboger Comments to a listening post outade gegan, on Sunday opening ihe way to a p«sfldecouiproinise with " 

o^r^awmoow ana oegan taiong W Wdnbenrer; the U A - ■ ... RroubEcans on a lower defense budget than the president hasst 

TheSoviet sentry accordine to defense; secretary TnSay con- TOe “ The comments reflected a shift of tone, if not necessarily of ml 

tteSSTdSJSSJS from theharderHne Mr. Reagan t odt in a Saturday «adbtidk,h. 

and German that the intruder stop, justified.” uncovered m 1984, the network he stressed that “vital weapons systems, either conventional or st 

“wv, -- ~ -I-- \At „ said. must not be touched bv congressional budget -cutlers. The 


'•hurt t 


Caspar W. Weinberger, the U.S. 


Republicans on a lower defense budget than the president has st 
The comments reflected a shift of tone, if not necessarily of sot 


? w frtAp * * 

• t* w 


and travel rights in the other side's and German that the intruder stop, justified.” “ lwt ’ “ Wk ™ ne stressed mat weapons systems, mrammw 

occupation zones in Germany and “When the latter failed to comply Mr. .Weinberger, attending a . . , . ... ““f 1 ^ by 

tirerghi to accredit 14 offices and and tried to flee, the sentry f££l conference of NATO defensermu- It also ^ported that intelligence Budget CommrtteechairoiM, Pete^Domrao, aRraubhcM, 

enlisted men to their missions. The warning shot m the a^Snce the istens, said, “We are convinced the bduwe tiiat Moscow had Mexico, said be welcomed the statements, adding: Ithnkihqu 

three Western nnssionsareinPois- intruder failed to obey, the scntiy shooting of the major in East Gcr- carried out similar eavesdropping some willingness to negotiate. 

Hum, in East Germany, a few mite shot and killed him. many was a totally unjustified act. sanier.lt said an . antmna was di^ 


It also reported that intelligence Budget Committee durirman, Pete Y. Domenia, a Republican i 

i i: » * l.j > r *> • 1 1 i .i — .1 : 






in Fust Germany, a few mil« shot and killed him. 


VIENNA— The UN agency for southwest of Berlin. The Russians Major Nicholson’s -action, the He was entirely in a place where it 


have missions in Frankfurt, Baden- statement said, constituted a “fla- was agreed observers can go.” 



HOTEL METROPOLE 
GENEVE 


• Grand Luxe 

• The Place to Slay 

• The Place to Meet 


34 Qoai General GmMa 
UU1 Gotten 3 
TeL 022/211.13.44 
Tries: 42L550 


in Lebanon to leave the country for 
their own safetif following a num- 
ber of kidnappings. 

A spokesman for the UN Relief 
and works Agency, or UNRWA, 
said in Vienna that five interna- 
tional staffers woe polled out in 
the past few days, leaving tight 
behind. 

Those remaining, including the 
director for Lebanon. John De- 
flates, a Briton, were also being 
encouraged to leave in light of 
Monday’s kidnapping near Beirut 
of Alec Collett, a British journalist 
working for the agency. A French 
official, GiHes Sydney PeyroOes, 


Major Nicholson’s action, the He was entirely in a place where it dn ™8 the deannp of a t n XT 

element mid, constituted a “fla- was agreed observers can go.” ^ 31 embassy. JllStlCCS D3T I /l S UllS SBl Ol H' 

ant violation” of agreements gov- A spokesman for Mr. Wtinber- CK said that U^. officials do WASHINGTON (AP) — An evenly divided S 

ning albed military personnel in ger said, in a reference to the Kore- ?° l “5* “® d cvicc .^ Oklahoma public school boards Tbesday from 

at Germany. an airiiner disaster, that the shoot- ujstafled and timt theywere found ariv fyr»» r r encou rage or promote homosexuality. 

The statement charg e d that U.S. ing reflected the “KAL mentality a ^ lcra warning from a friendly gov- The justic es , by a 4-4 vote, upheld a federal appet 


Baden and in the north. grant violation” of agreements 

The U.S. humch maintains a eming albed military 
white stucco villa in Potsdam, at- East Germany, 
though daily patrols usually origt- The statement char 


A spokesman for Mr. Wtinber- 


Justices Bar Dismissal of Homosex 

WASHINGTON (AP) — An evenly divided Supreme Corn 


lomosexj * • U1 

Su^ nane Cm m * P 1 ^ 


rd 




though daily patrols usually origr- i ne statement diarged that Uj. mg reflected the KAL mentality ““ a warmng uom a inmaiy gov- The justic es , by a 44 vote, upb 
nate from West Berlin. East Gcr- personnel had carried out “unlaw- ... shoot first and investigate lat- whose embassy had been Oklahoma law allowing such fiiii 

man border guards allow the ful actions" cat several occasions er.“ similarly bugged. A tie vote automatically upholds 


man border guards allow the 
American liaison officers free ac- 
cess between East and West Berlin 


across the Glienecke Bridge. The 
antiquated roan, where Francis 


antiquated span, where Francis 
Gary Powers, the famed pilot of a 


downed U-2 reconnaissance plane, 
was traded in 1962 for the Soviet 
spy Rudolf Abel is kept free of all 
other traffic. 

British, French and American li- 
aison officers generally conduct 


Arms Talks Continue, 
Unaffected by Shooting 


South Africa 
Arrests 239 


United Press International 


The U.S. arms delegation 


(Continued from Page 1) 


Thejustices, by a 4-4 vote, upheld a federal appeals court tilling 
Oklahoma law allowing such firings violated teachers' frec-spectt 
A tie vote automatically upholds the lower court ruling. But unfil 
of the Supreme Conn’s decisions, it docs not set any national pn 
because it is possible that in some future case on the same issue, . 
justices will participate. 

Justice Lewis F. Powell who missed hearing oral arguments 

not participate in tiKOklahoma case. Th^Oklaboam law stated 
teacher could be fired or otherwise denied work for engaging in ’ 
homosexual conduct or activity.” 


Vi , 

•n srtri 


was seized Monday in Tripoli. 

UNRWA provides relief, educa- 
tion and health sendees far two 
million Palestinian refugees in the 
Middle East. It employs a staff of 
2,100 in Lebanon, at which 99 per- 
cent are local. 

Mr. Collett, 63, an UNRWA in- 
formation consultant, was taken 
from his car while gfwng from Si- 
don to Beirut 

The staff of the Save The Chil- 
dren Fund, working with UNRWA 
in Lebanon, also left recently for 
safety reasons. 

■ MGStia Buffer Zone 


WORLDWIDE 

ENTERTAINMENT 



aison officers genorally conduct GENEVA — The U ^.-Soviet spokesman said the Geneva talks 
duly patrols, driving all over East arms talks moved into a new stage were continuing with the first de- 
Germany in marked military jeeps of the negotiations with three hours tailed discussion of possible defen- 
sedting to glean insights into the of meetings Tuesday, unaffected by rone anti-missile systems in space. 


ward Pa r lia m ent with a list of d^ j i* ■■■»-. o 1 i i 

mands that included enfranchise- iflmfl (jCtS rrCflCu J6tS AS uCu€uQl( 

^ DELHI (Reuters) — Western sales and deliveries of i 
public. ^ ^ ^P 005 . 1 ? ludia have not been affected byjhc country’s spy s 


- * w 


seeking to glean insights into the of meetings Tuesday, unaffected by srve antt-nnssile systems m space. pubHc. ™ v “ ul 

nature and location of troops, mis- the killing of a U.S. Army officer Max M. Kampelman, leader of Arson and stoning of houses and P-V. Narasimha Rao said Tue^ay 

n i v Mr A i • l • n ‘ IT O -1 .1 . a ® Ml* Ml/1 VII Q WTlftM ff^tV tA filtMh/WC 111 Pttfll 


by a Soviet soldier in East Germa- the U.S. delegation, returned to cars continued inthe black town- ^•^^dbaTOttenre^toquestiaisinftrliainentifliaic 


nature and location of troops, mis- the killin g of a U.S. Army officer Max m. rvampeiman, leader ot 
sites and armor. In West Gorman by a Soviet soldier in East Germa- the U^. delegation, returned to 
territory, their Soviet counterparts ny. Geneva from Washington on Tues- 

arc permitted to do the same. Only Neither side commented on (he day in time for the first meeting of 
designated military zones are con- substance of the adhering the subgroups on space arms. The 

sidered off-limits to thc roving offi- to their agreement when the talks meeting was held at the Soviet mis- 
cers. began March 12. rion to the United Nations in Ge- 



Geneva from Washington on Tues- ships around Uitenhagc where po- p[ 40 M ^ t ^ 200 ^?^^' b<Mbcr5 Francc ^ slarted ^ 


cers. began Marcn U~ 

The reconnaissance sorties, car- “We do not expect the inti 
tied out by two- to four-man teams, in East- Germany . to affect 
are dosdy monitored by Soviet talks,” a U5. ddegation spe 
Bloc authmities to thwart snooping man said, 
in restricted military areas. In the Major Arthur D. Nicholson 
past. East German trucks have was shot and killed Sunday 1 
been known to tramp or ram West- Soviet guard. Moscow charged 


gan March 12. rion to the United Nations in Ge- 

“We do not expect the incident nova- 
East- Germany . to affect the Mr. Kampelman had been re- 


kZVZtT ^ ™T be completed on schedule. 

^ a Eighteen Indian officials and businessmen have been held on sa. 

■ UA Bank to Stop Loans of leaking secrets abroad. A French deputy militaiy air attach^, L. 

Th* n-»nv rd n^efnm am Colonel Alain Bdley, kfi India roortly after the scandal b 

nbmLnfat if iuMry. and Sogc bS&to. tbt French ambasador, ms rto_ 


loans to private firros and banks in 


“ * “ «v«^«ti<m ro°lres- called by Preadent Rcmald Reagan South Africa out of oppoation to r\ 1 O j - t« j o, 

muad. to lobby members of the House for apartheid, Reuters reported from U ftnmflr k OCCIDL8 JK.6adY TO £J1(1 JU. 

Major Arthur D. Nidiolson, 37, 21 additional MX intercontinental Boston. mwim./'cvT n . - 

is_ shot and kiBed Stmday by a missfls on Ihe ground flat them- The bunk’s dmmun,WinumL 



a missil es on the ground that the 
it proval of funds would bolster 


The militar y command has ap- 
proved a plan to separate mflitia- 
mep vriio have battled across the 
boundary separating Christian and 
Moslem sectors of Brirut in the 


em military jeeps or fire warning he was spying inside a restricted UJS. negotiating position in Gene- 
shots toward them if they came too military area. Washington denied va. 

dose to sensitive installations. the allegation. The first two weeks of the talks 


(RIOT HORSE 


'.for and away 
tha best nude revue 
in the universe " 

..tsyi tho pfwu 


gtomniatoi 


rut radio said Tuesday according to 
The Associated Press. 

Beirut radio said the new securi- 
ty plan involves the creation of a 
mihtia-firee buffer zone dong the 
Green Line that separates Beirut 
into a Christian eastern sector and 
a mostly Moslem western sector. 

A mutiny by the main Ghri^tian 
militia of Preddent Amin Go- 
may el's Phalange Party has 
prompted the fi ghting in Sidcm anti 
Beirut The Lebanese Forces mfli - 
tia (»poses what it calls Mr. Ge- 
mayel r s Syrian-oriented polides. 

Army units that indude both 
Moslems and Christians wSl be de- 


U.S. Pollution Survey 


oval of Funds would bolster the Brown, said in a ctatrm gnt released 
-S. negotiating position in Gene- Monday that the bank last year jjfjf 
i- made S75 mfllion in loans to banks 

The first two weeks of the talks and private firms in South Africa ,, 
were mainly to organize the negoti- and that these loans will expire 


COPENHAGEN (Renters) — The Danish government wil 
300,000 strikmg workers to retum to wmk next Monday after read 
agreement with the parliamentary opposition, Danish radio sak 


aborts. The negoti a tors decided to next year. The bank, the 16th larg- 
discuss substantive issues Tuesday, est U.S. bank, stopped making 


The workers, who have been on strike for three days, will g _ 
rcent overall wage increase this year and unspecified shorter w* 
ur next vear the radio raid ■ . . S 


with a meeting of the subgroups (m loans to the South 


govem- 


TRAD1HONAL CUISINE - SEAFOOD! P* 0 ^. separation zone to 


OYSTER SPEOALBT 

79. a». Qariowlc-Gaiillr 

92200 NEIULLY- PORTE MAILLOT 

TcL- 74743 64 Menu 130 F 


supervise the dismantling of the 
bunkers and barricades that recent- 
ly reappeared near the Green Line, 
the radio said. 


(Continued from Plage 1) 
massed that erne,” he said, referring 
to methyl isocyanate. 

The chemi cal industry Monday 
released its own plan to provide 
more information to commumties 
about the hazardous substances 
produced at nearby chemical 
plants. At a news conference in 
Washington, the Chemical Manu- 
facturers Association said data 
sheets on the toxic substances 
would be provided on request, as 
part of an effort to develop coordi- 
nated emergency plam to deal with 
ac cidents . 

“The chemical industry has gone 
through a lot of semi-searching 
since Bhopal” said Edwin C. 


o/ space arms. ment or any of its agencies in 1978. 

ventary would be useful if it led to - 

uniform standards. The EPA has 

national air pollution standards for tt n t « ~V AIT 

U.\ Invites 18 Allies 


hours next year, the radio said. - ” >< 

The agreement between the government and the opposition^ 
Party has not been officially confirmed. Prime Minister Paul Scfti* 
center- right government held three hours of talks Tuesday, wt 
Radical Party, whose support it needs to achieve apariiamcatay£ 
ity in favor of giving the state powers of intervention in the dispjp 


tos, benzene, vinyl chloride, merco- 


Standards for dozens of other 
substances are set by states accord- 
ing to what each area thinks is safe, 
so the limits vary widely, according 
to S. W illiam Becker, executive di- 


To Join Defense Project 


(Continued from Page 1) 


18 AUieS Senators to Judge Envoys Differed 

WASHINGTON (UPI) — The Senate Foreign Relations Com 
T l • trying to reduce the number of paliiical appointees to diplomatic 

* 116 /) has adopted a new method for evaluating people named as ambax 

two members ctf the pand said Tuesday. 

Senator Charles Mathias, a Republican of Maryland, and S, 
considering an interim appHcatiou QaTbomePcfl, a Rhode Iriand Democrat, said memliqsrftiie/" 1 


rector ot Association of Local Air cm the United Stales, the official of the proposed space-based mis- Academy of Diplomacy, which was formed last last year, will 


Hohner, the association’s board ingestion ot ddn contact 


Foliation Control Officials, in sm ^- 
Washington. Although some governm 

The categories chosen Cor the have expressed mis giv ings a 
survey indntiati ehemj cHk that am the possible deployment of a di 
co nsidere d cancer agents, suspect- srve shield in space, Mr. Weir 
ed cancer agents or substances con- gersaid all the ministers who S] 
sidered hazardous by inhalation, were broadly in support of the 


ale defense system to protect Euro- future nonmees and report to the committee. The new process 


Although some governments a 11 * 5 against Soviet short- “not dimmish the president’s 

lvc expressed nrisavinB about tactical nuclear wemxms, a or reduce the Senate’s respon 

epos^fc deployment a senior UA defense official said statemenL 


in nominating ambassa 
mftrmmg them, they Sa 


rive dtidd in space, Mr. Weinber- Monday night 

ger said all die ministers who spoke In past efforts to enlist NATO 


Rooms for priraic parries 
Emer parking Closed Set. & Am. ■ 


The Global 
Newspaper. 


chairman and the president of the 

Exxon Chemical Co. He added that chloride,~diloioform, chlorine, ao- the offidalsaid. “but these are the Europe against incoming Soviet h£ 
new industry or^nizaiions would lylonitrile, carbon tetrachloride, questions we are all thinking about 


research programs. 


Among them are methylene -There wo* some questions," 


TftHCSPHJTY 

OF 

MONACO 


SPRINGTIME ARTS 
IN MONTE CARLO 1 


assist in training local workers for 
chemical emerge n cies. The new ini- 
tiatives, he said, win be instituted 


ethylene coride, trichlorocth; 
benzene; vinyl chloride, hyd 
chloride and xyleneL Snbstant 


Monday nigh L But they said the new system would lead to “more thoughtf 

In past efforts to enlist NATO thon>ngh consideration” of the qualifications of those named as « ! 
support for a space-based nuclear sadors by the president and screened by the committee. At a Cr t - aA 
shidd, Mr. Wdnbager has empha- conference, Mr. Mathias said one goal was to increase the 
sized its potential for defending ambassadorial appointments going to career diplomats rather 
Europe against incoming Soviet in- pohtical appointees. He said 45 of the 130 raiment chiefs of 
tcrmcdiate -ran a c unc le ar missiles. “ on-caieer " appointees. 



TMi to HABCa (A/10-111 
Sofas, chona, beSr. erdmn. 
B4GUSH S*CH FESTTVAi. 



vohmlarily “regardless of any legis- leases — sometimes in the htm- 


lative action.” 

Chemical indnstry officials 
agreed Monday that a national in- 


dreds of tons a yeai 
chemi c als were disci 
ch emical companies. 


in the United States as well as in s P ccmcau y 
Europe.” The latest sugg 

He added that ministers were 0 

concerned about how the United J 30 * 1081 nuclear 


specifically triple-warhead SS-20s. 
The latest .suggestion is to deploy 


Killing Not Deliberate, CBS Belief 

luclear missiles, which JERUSALEM (AP) — A CBS vice prerident said Tuesday 
ler payloads and snorter satisfied that an Israeli tank crew did not ddiberatdy fire at two n 


_r ,U___ UIUM4UEU 1UUUI UU* Ulb UUKCU . - , , ’ . ~ yiMI M IL j™ * J ~ J am* 

JS ™ States would handle any eventual have smaller payloads and shorter satisfied that an Israeli tank crew did not deliberately fire at two^-. 

msdosed by the wtn! ^ oa from offensive to defat- than tire SS-20. Although network’s cameramen who were killed by a shdlburst in Irebant " V Pdr.ininLk- 

“*■ rive weanons. and insisted that offi?* 1 ^ not_ discuss _ it, a week. 


SNQMOc 

Mrin VON STAGE |OV| 
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tans BRU5CN (4/14 
Tiras BSJGANZA (4/1S] 


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OMMBMUnC 
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i«*j9a(4/i2j 
MBOS QUATIFTT (4/13) 


W/yQ 


stve weapons, and insisted that ~rr~_r , “ 

NATO's European defenses must test-firing gun is one 

not be jeopardized by the anti-mis- ^ u^der study by tire P entago n, 
rile project The senior defense who 


to**** S mV * 


thTs toutf r identified, said a defense against about unstragic ewentj” which wcuned Uunsday when nm; 
saying it increases the risk of nuc£ such Soviet tactical missiles as the »mirer fired en tire CBS crew during a raid on tfow soufoW 
CT* SS-21, SS-22 and SS-23 could be Ullages. Mr. Sawr said there “was no mtention to fire at and har^ 

developed faster than the more jomnalisL" Two Lebanese enqjlqyees of CBS, Tewfik Ghazav. 
■ Project May Be Expanded complex system designed to de- Bali y e Metni, died in the attack. 


spoke cm the condition he not be 
identified, said a Apfnpw apiingf 


* 

loM’-e 


about this tragic event,” which occurred Thursday when an Israd^ 
gunner fired on the CBS crew during a raid on three south Ld. 


L’BOTRECOTE CAT# DE PARIS 


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Token 

Tali 

P3JS07454. 


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PMHARMONC OKHEST1A 
OF MONTE CASIO 
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tak" KMC*. Tru» Fnndi mStuto). 1930 d»«. 
IS An FaydaaujtaoB <fa la 5oun4 P) 236-10J7. 


BOMBAY PALACE 

Warfd npital dicin of hwfan ratfauram E«ap- 
tiond * — -f— outfiartic food. Now Yorit, Ok» 
gi% HouOOii. LX. Mortrool, T<xor«o & Voneovw. 
London? Hyde tafcSq. TbL> 7738855. 


Project May Be Expanded 


METHUSELAH'S BRASSERIE 

aad»in«bar-39Viaoria5tat ta fc— w S ci w . 
T* 7B 0424. "A ab hfl of wfcia. a kMwi U 
efidaaL MoorFri. and SiFiday lunch. 


Midtael Weisskopf aj The Wash- 
ington Post reported pom Luxem- A nuclear defense, he 

barg: said, could be developed without 

The Reagan administration is violating the 1972 U^.-Soviet trea- 


LONDOMWll 


rtrn* flaiAlJT. pan [4/T71 
CoikL Mae 50USIS0T wvn 


CbmL Mae 50U5ISQT wvh 
rtato GBXM, knar (4/21) 


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MONSIEUR THOMPSONS 

Ub..^ 1^737 9957. 


POMEGRANATES 

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from Fb aid AUdc EoB, Eorepo aid fra tawi- 
(B. Sec fay Mdafa. Gault Ataiu, Ronay and KY. 
T«n» MomSoi T«L 0I«8 65«. 


DEATH NOTICE 


complex system design to de- “flnye Menu, oiea in the attack, 
stray long-range b allistic missiles. ' 

^d. “4“^ EC Studies Plan to Freeze Farm Pri 

violating the 1972 U^. -Soviet trea- BRUSSELS (Reuters) — European Community agriculture mil 

ty limiting and-ballistic missfle de- began detail e d examination Tuesday of proposals fw a virtual fr< 
femes. farm prices in an attempt to reduce wide divisions over the annua 

Some European leaders support diplomais said. 


s-Vil2... 


WA m I 


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JaortOod* B3ALY {4/20| 


nun i20i 


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Opera Hrr» (4/S23) 


1* TXAM UU, FWiyon ikfton. ]jr fear. 
XWOtL The (tad -Bel. ipuM" dkor in 
taw. lawh rani 190 F. •«*. and lervica ind. 


STRMGFBIOWS 

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and AcdhcquB A baite fl pia-130 ojtv fttetta 


THE amANT ONHC RIVHl 
Kkimt aid Dene* 

WMd faraaei. Good food, good ina, goad 
rtpuh*on.l»Gc«w«»-IW.T^ 04 1421/4206. 


Coant Jolm Nkobs PALFFY ab 
Endoed died on March 2?nH 1985 
after a lemg illness in Lamannc 
Funeral Thursday, 28th March, at 
rEglise de Campeatas in Geneva 
at 2 pm. 


^ l r0grcSS « Monday ] 

Reagan’s spaa defense plan but muustai . “feuded that they were too deeply split over proposals | 


Reagan’s space defense plan but wac ocqiiy sput over , 

haveexpn^ed broad concerns Execmive Commisrion to reacha compromise by the 

about tt? potentially desS^ the month, m accor dance with thor timetable. 


sgs gggg dj&^^* s ^ s ^" nwdc,oBy ' 


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Ufcper a Maim low. Cdk 2* 3534. 


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development and deployment con- 
trary to the Anti-Ballistic Missile 
Treaty. 

“European carping will not 
strengthen our hand m Geneva,” 
the official said, referring to U.S.- 


Paris Reaffirms It Wants EC Enlarg 

PARIS (Reuters) — Prerident Francois Mitterrand of Franc 
reaffirmed his commitment to enlarging the European Communii 


LONDON NW 7 


GOLDEN CARP 




london i mod anpnd and among leefeod aid 
ay« far bv: ei *w heart of tto/k m . Soehekerted 
md comfcneMe. Bo Mowtf Sr. TeL- 4W 33SL 


IE PLAT DU JOUR 
Lnndt-DbirMr 387 9644. 
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KBIVANSARAY 



TKVeh & Ml qnocfara , hM erafaed icAwaK. 
toflea. MdU«fr.V. TdU5»a Ar notfnerad. 
80m. Opera. Neon3lua. 4 Abm-Iom, ana* 
Sunday. 


UNIVERSITY 

DEGREE 

In d w Mtat rmmiii 

mu may Quaay far 
»S WASTE RS OnpQCTORAIt 


Soviet arms-control n^otiations. says some problems remain over entry terms for Spain and Portn 
“But I think the president is quite “France will leave no stone unturned to ensure that enlarg 
determined to continue the Amoi- succeeds,” Mr. Mitterrand said after a working dinner Moods’ 
can SDI program." Chancellor Helmut Kohl of West Germany at the Elysfe Pal 

The official said European offi- KoW said:jThere is a lot of good win. certainly as far as we 
dais at the nuclear plannms-grotip oOTcemed." ■ . . : 

meeting win be reminded of the Neither leader would comment on tire prospects for an a$eao 

potential business intaest for thdr enlargement at the EC summit meeting starting in Brussdion I 
countries in joint research of a tac- Mr. Mitterrand indicated that there would still be bargaining, but ‘ 
deal nuclear defense. as Spain is concerned, the files are still open." 


tar Ufa. Academe 4 Work Euartrax* 
mumayouatfyioi 

BACHELORS WASTE RSOnpOCTORAIi 
Send detailed icsumi 
for eh]M evaluation 

paohc wesrew uwverstty 

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deal nuclear defense. 













Virtnuin , tl i -St 

•wtV “i.% 


AMERICAN TOPICS 


' - v ^ y of the line 

‘ the Caboose • 

Igfc • ; - ... : -lc caboose, . which has 

Mir-'i ' ■’ v - ‘ . iV ’L .nghtup the rear of American 

• ... ‘ ;i.'usfor more than a century, is 
4-J 1 7 v , ded for the last roundhouse. 

*”■ v • - • . ., - Washington Post reports 

V-m * * s ■; ' v -V- it is rapidly being replaced 

“ v ’ ■ , .'t'-a shoebox-size electronic 

* s^-ahor that is designed to do 

I '*vWoric traditionally. entrusted 

^ - lilt iH|<*J|j tr t crew member perched in the 

t Vfi : v - oose's oqjola. 




*■ *4* .-to* , - 

? l v 

1 ****4\-.. ; 

VjiS'-V-r; 


rp ( i ■ o« 

'-QhJjLailroad historians say the car 
' - . . "I invented about 1850 when 
- Y ns woe getting so tong that 
could not see every car 
''v.n the engine. The name is 
' a .. eved to come from the Dutch 
: • ^ au; meaning “cabin house.” 

r.S-he caboose also served as a 
v. -'^‘i.ing dormitory for the crew on 
. ^distance routes but chang- 
• .^Vwork rules have meant crews 
. .' % eager spend the night on the 
da 

■ ..'; *- __abor unions are opposmg ab- 
. ;Z : y-£jan of the caboose; so far to 
effect Dick Tmeher, a 
^.';<rjoa Pacific railroad exeat- 
said, “We’re replacing a 
med caboose that weighs 25 
> and costs 570,000 with an 
IP on r> omatic 35-pound (16-kllo- 
IKp) black box that costs about 
.‘r- ;. j 00-“ The device indicates | 
-C^-tber a train and its air brakes 
working property. ’ 


‘‘WUfrV!* r ... ". 

1 * ** * ** I !■ » '.- 

r.*j. ... 

i 

Seaman shif,. 

%4»'lflSt. : V . 

t ........ 

tw r ^ ; ; 

• *,.» . * • 

***** w 

VrwMfcjrj ;•• w . 

Aiwutte W.>-' 
- -ftrutrrM^ fit: 
mm \ 
fe*40i» »'.»■ ...» 

Mr**bV. Ur rv « - ' 



WHhams, 46, a “ hank examiner 
from Atlanta, stayed in the icy 
waters of the Potomac River 
passing a helicopter lifeline to 
other survivors before he 
drowned. 


PfTERNATlONAX. HERAU) TRIBUNE, WEDNESDAY, MARCH 27, 1985 

Walters Accepts Posting as UN Envoy 
i~ Without Seat on U.S. Security Panel 

Omac River * 


Page 3 


Cocker 


winch until 


= v. v .^it what win 

^-.v- . “ : ^t8taceT3Iey Say? 

mm New Yorker magazine 

• ‘ "V^ws to dude other publkattons 

: ' • • -VT:- "^ tfieir mistakes, and urides it- 

..... . . <» diaiing and rwheddng 

word it prints. But in the 
nth 18 issue, Brendan Gill, 
1itnti _k i k> i*. drama critic, wrote a review 

jupuct'* ixir n^niissalo) ^ ” piay ’ " The ° ctette 


Brendan GtD 

Bridge Glib,” and had so much 
fun panning it that he neglected 
to mention the name the play. 

Mr. GiQ. off on a week’s vaca- 
tion. was not available for com- 
ment Martin Baron, head of the 
fact-checking department, said 
that “the author chose not to 
mention the title d the play." 
Fiddlesticks. Eustace TQley, the 
haughty, monocled dandy who 
appeara an the cover of the New 
Yorker once a year as its fiction- 
al personification, undoubtedly 
was not anrased. 

Short Takes 

The bridge in Washington that 
was hit by an Air Florida jet 
three years ago h»« been "»«im 
the Attend D. Williams Memori- 
al Bridge in honor of the man 
who sacrificed bis life saving fel- 
low passengers. The Jan. 13, 
1982, crash tolled 78 people. Mr. 


recently had been losing popu- 
larity, have topped the rMstrt- 
tkm list at the American Kennel 
Gob for the second year in a 
row. 

The National ptui Service re- 
ports that if rnfld weather contin- 
ues, Washington’s cherry blos- 
soms should appear at Easter, 
April 7. and right on time for the 
annual Cherry Blossom Festival 
that follows. 


These Intruders 
f Go Righ t to the Top’ 

A psychiatrist who has studied 
hundreds of people who have 
tried to gain unauthorized entry 
to the White House say they have 
such imaginary problons as feel- 
ings that the government is per- 
secuting them, a desire to share 
supposedly secret information 
with the president or the pros- 
pect of a reward for an imaginary 
heroic deed 

Threats against the president 
came from only 22 percent of the 
328 people who tried to get into 
the White House from January 
1971 to July 1974,accordmgtoa 
study by David Shore of the Na- 
tional ■ Institute of Mental 
Health. 

“These are not political people 
but ones who have shown some 
signs of psychotic behavior," Dr. 
Shore said, “in America it’s a 
tradition to ‘go right to the top’ 
and that’s what they did.” 


The Associated Press 

WASHINGTON — Vernon £. 
Walters agreed Tuesday to serve as 
ambassador to the United Nations 
without having a seat on the Na- 
tional Security Council, according 
to Larry Speakes, the White House 
spokesman. 

Mr. Walters had indicated previ- 
ously that he did not want the cabi- 
net-level diplomatic post unless he 
would have regular access to Presi- 
dent Ronald Reagan at National 
Security Council meetings and sim- 
ilar high-level strategy sessions. 

Mr. Speakes said that the UN 
delegate, Jeane J. Kirkpatrick, and 
her predecessors were not members 
of the co lined bm had attended its 
meetings “on an ad hoc basis at the 
invitation of the president. General 
Walters's status will be no different 
than his predecessors,” Mr. 
Speakes said. 

Asked if h were likely that Mr. 
Walters would attend as many 
meetings as Mrs. Kirkpatrick, Mr. 
Speakes said, “That' remains to be 
seen.” 


■ Background of Conflict 

Bernard Weinraub of The New . u 

York Times reported earlier from Vernon A- Walters 
Washington : 

A dminis tration officials said a Mr. Speakes said Mon 
conllici between Secretary of State Mr. Reagan valued the “ 
George P. Shultz and Mr. Walters and in-depth knowledge o 
raised doubts about whether he policy” of Mr. Walters. Bu 
would accept the post. istration officials made it j: 


Mr. Reagan agreed with Mr. 
Shultz’s opposition to making rite 
retired three-star army general a 
member of the council 
Mr. Reagan nominated Mr. Wal- 
ters, an experienced diplomatic 
troubleshooter and former No. 2 in 
the Central Intelligence Agency, on 
Feb. 8 to succeed Mrs. Kirkpatrick. 
-At the time, Mr. Walters said he 
would hold cabinet rank, and indi- 
cated that he would serve on the 
National Security CounriL 

But. in recent days, administra- 
tion officials said, Mr. Walters has 
been told he would not be on the 
council, which is the ranking for- 
eign policy decision-making 
branch of the government. 

Other Slate Department arut ad- 
ministration offi cials said that Mr. 
Shultz fought against giving Mr. 
Wallers a seat on the cotmaL 

“It has nothing to do with Wal- 
ters, but with that job,” said a Sn»»r 
Department officiaL “Shultz did 
not want the UN ambassador to 
have the same, degree of indepen- 
dence that Jeane Kirkpatrick had.” 
t# Mr. Sholtz and Mrs. Kirkpatrick 
. have tangled over foreign policy. 

Vernon A. Walters A State Department official 

said: “It’s not just having a seat on 
Mr. Speakes said Monday that the NSC It’s the hobnobbing. It's 
r. Reagan valued the “expertise the sense that you're one of the 


■■ - A • i - . **•£. 

Beverly Wilshire Hotel 

IN THE HEART OF LOS ANGELES 
Wilshire Boulevard at Rodeo Drive 
Beverly Hills, Calif. 90212 
(21312754282 Telex 698-220 

toebof thtWorld g 





London (01) 583-3050 
Frankfurt (0691 29 04 71 
Hong Kong (5)22 1142 


[US wngotott r 


London (OlHiJutfSI-* 
FranLfun (069) IS 75 24 
Hong kortg(3)t>8 23 35 


and in-depth knowledge of foretgu senior foreign policy people. In es- 
policy” of Mr. Walters. But admin- sence. what Waiters is bemg told is 
istration officials made it plain that he’s not going to make policy .” 


(Datum* :v 

• ffct>Nk % ;*-.'- 
•A 8W wit 

«i dhv 


S. Indicts General Electric in Fraud 


«» 


■ z^rUed by Oar Staff Fran Dispatches tions” before a federal grand hny, 

\ 4 “->kSHINGTON — General he said. 

; c ' -ric Co- the f ourtb-largest de- If convicted on charges resulting 
contractor in die United from an indictment, the company 


and that’s what they did.” By Bernard Gwertzman 

Caamilpd hv Mw York Times Service 

ARlHURfDGBEE WASHINGTON — As Ronald 
_ I I. Spiers tells it, he was happily at 
work as ambassador to Pakistan 
when he complained offhandedly 

yti/t {ri PVourl of Ge 01 ** r. 

J. IV/ ill X X cUIXt Shultz, who was passing through 

Islamabad, about the way the State 
Earlier, a GE company spokes- Department was managed world- 
men said there was no cnmfoal wide: 


Frustration Inside the ( Fudge Factory 9 

State Dept. Official Cites Lack of Funds, Mismanag pmpnf 


select the best for promotion, in the Another major complaint of Mr. 
end it all depends on whom one Spiers is the lack of funds given to 
knows in a position of power. An the State Department for its basic 
officer may have performed su- job. The budget is about S2 bilhon 


The next thing he knew, Mr. 


Jack Batty, a sp okesm an at GE Shultz was asking him to return to 




; 11 ! -’ric Co„ the fourtb-largest de- If convicted on charges resulting wrongdoing car GITs part. The next thing he knew, Mr. 

'- rr ^‘:: contractor in the United from an indictment, the company Jack Batty, a spokesman at GE Shultz was asking him to return to 
i, was indicted Tuesday on could face proceedings aimed at headquarters in Fairfield, Connect- Washington to become undereecrc- 

Xz .es that it defrauded the gov- invalidating all or part of its Penta- icut, said Monday: “Wlffle it is en- taiy of state for management Mr. 

'■*- i^.at of $800,000 on contracts gan contracts. GE and its subad- tirdy possible that, during the Shultz's first choice as head of 

; l^nuclear warhead system, the raries received more than $4J bd- course of performing these multi- management, a corporate expert in 

Department announced. lion in military contracts in fiscal millian-daQar contracts, charging the field, had given up indisgust 

ward S.G. Dennis, a U.S. gov- 1983, according to the most recent errors did ocoor, there was no aim- after less than a year of trying to 


I.HT* Department announced. lion in n 
naid S.G. Dennis, a UX gov- 1983. ?« 
an attorney, said the indict- s t ati st ics 


- ail auxnxi^jy wiu us xuuiwr 

MUJtlttt 4 .«>lw Krm.Mf.li ; charged the company with S°°- 
m%4UI v s'* r rf Uni Jfbjj^jounuof “maltingand pro- D 


pertty in some far-off embassy, but annually, which, as Mr. Spiers 
usually has less chance of getting a points out, is less than cme percent 
top position than does a talented of the Pentagon’s budget 
aide to a senior official in Washing- Moreover, he says, despite the 
^ . . . . . mystique attached to the Central 

For maance, U rs regarded m the Intelligence Agency and other dan- 
State Department as a passport to a destine operations, 70 peraait of 
pnzed overseas assignment to the mataS in the preadent’s su- 
spend two or three yeara as a senior persecret morning report covering 
aide to a high officiaL In fairness to crucial ovemightl mtanational d? 
those office^ they do put m 18- velopments cSmes from Foreign 
hour days and long weekends, and Semce reporting, 
the toll on their personal lives is ,.“7^. , , . 



BROADCASTING TO CABLE COMPANIES 
IN EUROPE & THE UK VIA SATE LUTE 


'Europe's Best View' 


often heavy. 


And yet, in the last decade, there 


from the Fenta- 


Too ofto, Mr. Spiers says, as- ^ bmjn \S pcaxai ail in ibt 
immMH number of people devoted to eco- 


M - . 

Ml 


M JfL'2» ^counts of “malting and pre- Defense Department o fficials ^ ®^tty said the practices in 

. - - . . jg false claims to the United said political and national-security qnestkxi inwlvcd work on the war- w ^ JMHC ^ 

The indictment was re- considerations would almost cer- headrftteMinutemanmttrconti- partmeut m ^ long-standing — 
■'d by a fedml grand jury in tainly enter into any discussion of oental tamstic missile. The work Adequate resources, cliq uish per- 
. Tddphia. suspending GE from rmhtaiy con-- ^ pTpSS™! sonnd policies and a povaaveS- 

-io charged m the indictment, tracts. “f company’s Re-Enny SystOTS ing that what most officers do has 

-Oeawis said, were Joseph Cala- The company’s 1983 contracts Operanon division m Phfladdphia- fill j e ^rmain cm foreign policy — 
a General Electric emriovee. included supplies such as washing Tiadivisimi has ance been merged that hein® head nr minawinral ic 


*• 

m t.'y Mt ■■ 

tm a m-% *■ 


a General Electric employee, included supplies such as washing , 1DC ^ D“n.nwgM 

; - : Roy Baessler, a former cm- machines and light bulbs as wdl as into GFs^pace ^steins draisicKL 

■ --st-Each was charged with two nuclea r missile warheads' and en- Jo hn Terino, GFs product-m- 

• - ::ts of “ making false dedara- gines for filter planes. farma ^? . mana ?^, f ?‘.. lhfi . aeTty 


— alter less than a year at trying to . ' ” number of people “devoted to eco- 

malwroagdomgon thepanoflhe put order into what has affection- nomic and^tical reporting and 

cranpany or us employees.” atdy been called “the Fudge Fac- 2“ , vniether you are the . . , f/thrTwwrt 

Mr. Batty said to in ^ ^ 

The problems of the State De- officers “whoarc less visibleloS te^mcreasesmarasularworic- 
paitment are so long-standing — derision- maker s in Washington” loads ““ P r0Vlde adminatrative 
inadequate resources, cliquish per- and fails to ensure “equitable shar- support for other agencies, 
sonnd policies and a pervasive feel- jng of hardshto assignments,” he “What we have done, year after 
ing that what most officers do has says. year, is thin the soup,” Mr. Spiers 

little impact on foreign policy — “At the heart of many of these “wL 

that bang head of management is problems is a toss of service disd- 

viewed by many in the department pfine that, in my view, arises from a 

as an invitation to frustration. sense that the system is not iroerat- A 


PROGRAM. WEDNESDAY 27tft MARCH 

13 3S FAMILY 
1430 STAR FLEET 
IS 00 SKY TRAX 1 
15.45 SKY TRAX 2 
1630 SKY TRAX 3 
1730 MR ED 


1800 THE LUCY SHOW 
18.30 BEARCATS' 

19 20 THE ACCIDENT 
21 05 I NT MOTOR SPORTS 
22.10 SKY TRAX 


support for other agencies.” 

“What we have done, year after 
year, is dun the soup,” Mr. Spiers 


SKYOlANNB. TV AtWERTENG SHIS PRODUCTS FAST- FOR MORE INFOSMAT ION. 
RATES. MARKETING S AUDCNCE DATA CONTACT TVE SALES DEMRTAffNT 
SKY CHANNEL. SATELLITE TELEVISION PIC TEL= LONDON (01) 636 4077 TELEX 266943 


as an invitation to frustration. 


Denmark N*rm*Ridifo 






H d Hmi ■■'r-T 
mm* 

TWINS' 

h* * ' ■ 


x s . 


in 



space diviaraLsaidthat the charges Mr. Spiers, a veteran of the For- ing equitably.” he said. “I see little 

"'would involve “emus" on about “8“ Service, has m recent mtmths chance of restoring esprit de coips 
100 emplpyee time cards submitted begun speaking out candidly about and a sense of service until we find 
between March and November of ** unha PP mcss w*™ state of ways to restore trust in the system 
1980. He said about 100,000 time affairs, and he « qmqk to say that and overcome a feeling that nice 
cards had been submitted during not much has changed yet He re- guys finish last” 

that period. cently gave a speech to the Amen- 

*t2s was certainly not ddiber- «n Fmeign. Seraice lAoodanon, 
ate,” he said. “It was a simple er- *e trade union for the State De- / ^ 

rot” He added that the ampany partment, and exceipts from that ' JjL 

has told the government that it is speech appear m the airreat issues BAUME & MERC1ER 
wiffing to ran*®* it for any <* ^?°^S^ 3bura ? and oenhve 

drar^ found to be improper the State Department’s own house issc 

(AP, NYT) or&n. 

■ A Cut by General Dynamics c # S.^ e ^f!! 4 0nIy , d< S.. lhe 

nr J-.j*. ^ v . Stale . Department not_ receive 


waimg to ramlmrse it for any “ ** Joum ? 80(1 

dinrges found to be improper the State Department’s own house 

(AP, NYT) 

■ A Cntliy General Dynamics ^^^f!!. onIy , d< S.. l,ie 

wr , _ ,, . Stale Department not receive 

FFowie Biddle of The New York enough money to do its job vni. 
Times reported from Washington: w.., », oc f-iUi tr, th. 


and overcome a fadin g that nice 


M. 

Baume & Mercier 

GENEVE 

1630 


ifmg reported f rom W ash ingto n: but it has failed to manan wdl the 
„ Faced with growing enhosm resources it has, namely a dedicai- 
fnnn Congress and the Pentagon, corps of diplomats. 


^rtuilor*' t«» Jiulslr knvoif 


m ti h 'iptr' 3 - * ~ 







few tsv 

V- 


v- 



the General Dynamics Carp, an- 
nounced on Monday that it would 
withdraw $23 million of overhead 
charges made against government 
contracts from 1979 to 1981 
The sum is about one-third of 
such daims filed by the company 
that P en t a g o n auditors are ques- 
tioning. During those four years 
General Dynamics, the Pentagon’s 
largest contractor, billed the gov- 


It has long been known that a 
disproportionate number of com- 
petent diplomats had little to da 
Secretary of State Dean Rusk com- 
plained in the early 1960s that the 
department had “too many chiefs 
and not e nough In dians ** 

Mr. Spiers makes the same point 
when he says: “We have too many 
senior officers who cannot be 



I ESCUED — A paramedic helps Annette Cosh, 49, erf 

iJUKIIjK 'ewcasde, Australia, after she was rescued from a boat 

iklL a, “• '.at capsized off Oxnard, California. Mrs. Cosh and her 

**».: w ,.■■■■* Darrell, 13, who later died, were trapped with 

—r\ - . Mther passenger beneath the craft for almost an hour. 

A ine other passengers swam to &ore 200 yards away, 

f t* 1 " ■ * ■ - 


eroment for about $170 million in placed in jobs appropriate to their 
overhead exposes, and the De- rank” and “ c o g e n tly, 40 senior of- < 
f ease Contract Audit Agency has ficers axe over com plemen t," or do- 1 
challenged $63.6 million erf u. rug “make-work” jobs. 

Swtooked^^ those questioned n*?? ^ve moved from career to 
items in light (rf toda/senvizOT- P^lappomtees. Even the most 
meat,” saMDavidTLews, chair- respected calory is not itmnme. 
man of General Dynamics, toto Of40< 5!?^ mmsters, theabsoiute 
second appearaaitSlSbrfore 

the Rouse^ergy and Commerce ^without meaningful jobs, he 
Committee’s ovarighl uniL ^ 

Voluntarily rescinding the $23 Many officers, particularly those 
mQHon in overhead charges was the without dbafieagmg assignments, 
first action the ccmqxuty has takwi mf ii plain that despite a variety of 
allegations of impropriety objective criteria mat are supposed 
arose last year. 10 be used to rank officers and to 



In Hong Kong 

we are in the Central Business District. 
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You should be, too. 

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taingl RtftKam 







Page 4f 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


INTERNATIONAL CLASSIFIED 


REAL ESTATE 
TO RENT/SHARE 

PAKIS AREA FURNISHED 


(Continued From Back Page) 


SERVICES 


SHOT IBM to loft Q w**. 
No ooana. Tok 329 38 83. 


EMPLOYMENT { AUTOS TAX FREE I AUTOS TAX FREE 


; * PAMS 527 01 93 * 

YOUNG lADT TOUNQUAL W-FA 


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eanlar. WeeWy, no ogont 574 14 00 



FRANCO 


DOMESTIC 
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PAIUS AREA UNFURNISHED j 


NEWLY ON GARDEN 


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najoo. &Wy ™doM 5 


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dm apartsaant. about 1« sqm. m 
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HOW TO IMPORT A EUROPEAN 
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BOOKS 


PMB YOUNG LADY, tourist gotta. 
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Stake. To receive the guiud, send I 
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■els bra 1932 Tourer 

nncfl 

BEST PRICES 



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qmekal 

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Krecdy in (he seopotls - hot & ntortr 
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PAMS YOUNG LADY 341 21 71. 
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DAWAJI TRADE 

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la Gw 

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Coot: The bade rate is 39.80 per Ena par day + load taxes. There ere 
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Pro-Syrian Factions 
Of PLO Form Coalition 
To Block Peace Talks 


YOUNG BEGAN! LADY 

Muffiflngmi PA. Porto: S2S 81 01 


By Hcrberr H. Denton 

Wcahirspoa Past Service 

WASHINGTON — Paksimc 
Liberaiiott -Organization factions 
allied to Syria have formed a coali- 
tion is Damascus and have sig- 
naled a drive against efforts by the 
PLO chairman, Yasser Arafat, and 
King Hnssdn of Jordan to revive 
Middle East peace negotiations. 

Tlie gronpmg of six guemQa fac- 
tions as ihi National Palestinian 
Salvation Front, announced Mon- 
day in Damascus, hardened divi- 
sions within the PLO and saved to 
underscore Syria's determinazictn 
to defeat any Middle East initiative 


I LONDON. Young German/FreodiaC- 


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SMOAPOK tm. GUTOESl GA Sn- 
grmaro 734 96 28. 


HONG KONG 3-671 267 young lady 


Torpedo Boat, 13 
In Crew to Quito, 


W ash ington Pat Semce 

TOKYO — The 13 crew mem- 
bers <tf a Chinese torpedo boat that 
drifted into Sooth Korean waters 
after a mutiny in the Ycflow Sea 
will be returned with the boot to 
nim« on Wednesday, die South 
Korean government announced 
Tuesday. - - 

The returning crew wiQ rnefarie 
two men who South Korea says 
shot and tilled six others and 
wounded two aboard the boat last 
week after bemg called insulting 
names. South Korea considers the 
killing s tO be “ i nter n al tebeffion 
murders,” a government statement 
said Tuesday. The two men could 

face chfligff S in that carries 

sentences of execution. 

The statement akn said that 
South Korea had received a written 
apology from China for an intra- 
son into Sooth Korean waters Sat- 
urday by Chinese naval vessels that 
were searching for the boaL 
The torpedo boat and its crew 
are ro be turned over to the Chinese 
at a point in international waters. 
The six bodies also will be re- 
turned. 


that does not include Damascus in 
the negotiations. 

News agencies reported that the 
new grouping said that it would 
work to “obtain the abrogation" of 
the Feb, 11 accord that Mr. Arafat 
and Hussein signed for a Jordam- 
an-PLO delegation to peace talks. 
The Palestinian coalition called in- 
stead for a stronger “strategic alli- 
ance” between the PLO and Syria. 

The front indudes George Ha- 
bash of the Popular Front for the 
Liberation erf Palestine, as well as 
other PLO splinter groups long un- 
der Syrian influence. Mr. Habash is 
a Marxist leader whose fighters in- 
troduced hijacking to the Middle 
East in the 1960s. 

Mr. Habash, who is popular 
pmnnz snme Palestinian intellectu- 
als and refugees in camps, had been 

a close friend and ally of Mr. Ara- 
fat. As opposition to Mr. Arafat 
mounted after the Israeli eviction 
of the PLO from Beirut in 1982, 
Mr. Habash refused to oppose die 
PLO rhartman publicly, and he at- 
tempted to arrange a recondljation 
between Mr. Arafat and the five 
other dissident factions. 

Besides Mr. Habash, the anti- 
Arafat group indudes the PFLP- 
Gencral Command of Ahmed Ji- 



Sandumts 
Are Puppets I 

Of Russians,* 
ReaganSays 


ini fit 




By Don Obadorfcr 

H-tofefgttafaf&nfcr 
WASHINGTON — 

Rtaald Reagan, in a routing ft 
to a lobbying campaign bnbeh 
of US. ad to anti-govenm* 
guerrillas in Nicaragua, a]w 
that Sandinwt leaden have! 


• ■ 4^ i# 

, . 


,4 * ** 

c* 

*. r- aw 


George London 


come, “as they had always plam, 
eager puppets for the Sovku a 
the Cubans." 


London, 64, 
Opera Singer, 
Dies in U.S. 


bxil; Saiaa; the Popular Struggle 
Fnxit: the Palestinian National 


Front; the Palestinian National 
Front, and defectors from Mr. Ara- 
fat's mainstream Fatah faction led 
by Sayed Musa. Sayed Musa, 
known by his code name Abu 
Mnsa, fought against Mr. Arafat in 
Lebanon in 1983. 

Supporters of Mr. Arafat were 
pleased that the Palestine Commu- 
nist Party and another pro-Sovkt 
PLO faction, the Democratic Front 
for the liberation of Palestine, did 
not join the coalition. But the deci- 
sion of Mr. Habash to join the 
group appeared to give dm opposi- 
tion to Mr. Arafat within the PLO 


By Paul Hume 

Washington Pott Serna 

WASHINGTON — George 
London. 64, one of the greatest 
dramatic baritones in the history of 
opera, dial Sunday at his home in 
Armorik, New York. The cause of 
death was not disclosed. 

His career was cut short in 1967 
by a paralysis of the vocal cords. 
While he could still speak, he lost 
the ability to sing ana so directed 


aQ of his energies to assisting young 
ringers. He also did narrations in 


Caban Media Chief Changed 

The Associated Press 

MIAMI — Nibaldo Herrera Sar- 
dinas, of the Cuban Institute 
of Radio and Television, has been 
reassigned to “other functions," ac- 
cording to Havana radio reports 
monitored here Tuesday. The 
broadcast did sot explain the 
move. 1 he sew head of the state- 
controlled media will be Ismael 
Gonzalez, former chief of the Cu- 
ban University Federation and a 
senior member of the Cuban Com- 
munist Youth. 


more wetgnt ana coneson. 

It also seemed to foreshadow an- 
other battle over whether Mr. Ara- 
fat can to speak on behalf of 
Palestinians when he and other 
Arab leaders are pressing the Rea- 
gan administration to meet with 
him. Hussein has said he will not 
join peace talks without the assent 
of the PLO. 

President Ronald Reagan has 
ruled out direct participation of the 
PLO in peace efforts unless the 
organization recognizes Israel 

farad is opposed to preliminary 
talks between the United States 
and a joint delegation from Jordan 
and the PLO, as a prelude to wider 
Middle East peace negotiations, fa- 
rad is seeling direct talks with the 
Arabs and reftues to consider any 
negotiations with a group in whim 
the PLO might participate. 


ringers. He also aid narrations m 
such works as “Moses and Aron," 
by Schflnberg, and the same com- 
poser’s earlier “Gurre-Lieder.” 

Mr. London had served as artis- 
tic director of the Kennedy Center 
and general director of the Wash- 
ington Opera. His career took him 
to die Metropolitan Opera, and to 
starring roles in Salzburg, Moscow, 

La in Milan, the Wagnerian 
shrine at Bayreuth, and die Vienna 
Stale Opera. 

In 1949, Mr. London left the 
United States fra Europe, as many 
ringers of that generation did, and 
quickly found stardom. In that 
■same year, he made his debut in 
Vienna as Amonasro in Verdi’s 
“Aida,” following that in succes- 
sive seasons in the title role of Mo- 
zart’s “Don Giovanni;” the four 
villainous roles in "The Tales of 
Hoffman;” Almaviva in “The Mar- 
riage of Figaro;” Scarpia in 
Tosca;” Mandryka in “Arabella,” 
by Richard Strauss, and, in 1953, 
die rede of Boris in Mussorgsky’s 
“Boris Godunov.” 


Mr. Reagan made the siattm 
at a White House meeting Mora 
with about 180 CentralAmerkt 
who flew to Washington frean ) ., 
ami to lobby Congress on behaU 
the Nicaraguan insurgents. 

The viators are b fust wave e 
major influx expected here as r 
administration seeks to reverse • .. 
congressional ban on CIA faj' 
for the insurgents.” 

Mr. Reagan used the occasion 
aoteash some of his toughest L 
guage ever against Soviet activity 
the Western hemisphere a 
against the Nicaraguan gove 
meat. 

‘The Soviets’ plan is designee . . 
crash self-determination of f 
people, to crash democracy in C 
ta Rica, Honduras, El Salvad 
Guatemala and Panama,” l 
Reagan said. “It*s a {dan to n . 
Central America into a So* 
beachhead of aggression." 

The president went on to • 
scribe the Nicaraguan govexom ' 
as a dictatorship that practices t 
army despite “reassuring words 
peace to the outside world” t 
went on to list charges of rig' " 
abuses there. . • 

Mr. Reag&n compared the g ? / * 
eminent- directed relocation <« 9 
Nicaraguans from a strip near 
Honduran border in recent day: 

“Stalin's tactic of Gulag rdt 
tion" and said it is similar 
“forced relocation" in the Ukni 
Vietnam, Camb o dia, Afghanist ’ 


Ta- rt«R. 

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Angola, Ethiopia and 

He did not oqilidtly mention 
drive to reverse the congressio -• 
ban on CIA financing for the int 
gents but maintained that . ■■v 
dream of a bright future for Cen - 
America “can quickly becom. 
nightmare if we don't stand beh 
the brave men who are putting tl 
lives on the line for the cause 
freedom in Nicaragua." 

The visiting delegation indo — - 
business andjx>UticaI figmes & 
a variety erf Central American j ; ‘ '' - 

South American countries and 

resentatives of exile groups in ' 

ami 



It was in this last role that he 
made Ins debut at the Bolshoi The- 
ater in Moscow, the first American 
ever to sing on that stage. Mr. Lon- 
don sang in Russian with such 
beautiful enunciation that his in- 
stant fans in Moscow could not 
believe he could not speak the lan- 
guage offstage. 

• Other Deaths: 

Ivor Wallace Hughes, 59, chair- 
man and chief executive officer' of 
Brown 8l Williamson Tobacco 
Coip^ Friday in Louisville, Ken- 
tucky, after several months of ill- 
ness. 


lift u 



* 


*«.i 


Dr, Norman Saxton, 70, a physi- 
cian and innovator in the radiologi- 
cal treatment of cancer, Saturday 
in White Plains, New York, after 
suffering a cerebral hemorrhage in 
December. 


■ Aid for Opposition Paper . 

A federally financed founds!' ' 
has given 5100,000 to La Pra ! 
the opposition newspaper iaN /fa 
ragua that is heavily censored . 

the Sandinist government, ' 

New York Times reported & ’* 
Washington. 

The foundation, the Natic : r - 
Endowment for Democracy, 
proved the gant in Januaiy.^t^U — "V 
lo undation nffiHal said the mtz > . 
was to be used Fra “desperal' 
needed ink and printing supply w 

The endowment is a private^ 

ganization started by the Reaj" " * 

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^Suture Spirit P srvades Valentino », Ungaro Shows 2-Part Domesday Book to Become 

a&SSXiSfJ: SS*Jsa^pKS 5 Volumes for Its 900th Aoniversar 

*5 — Valentino md Un- sweaters. There were tweed Wou- and then some, hoed up nemo one ury was new to ready-to-wear, villa — an ItaJian artisan, who has ' 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 

ARTS /LEISURE 


Page 5 


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( % Hebe Dorsey r leathery 
“ Herald TriSane seasons; 

ti, — Valentino and Un- sweaters. 

V 'iA>,have delivered highly pol- sons witl 
.. »; • . jflections that glorify the Plush i 
, ' v T*ntiful and are shining ex- pris or t 
t; the refined couture spirit deredha 
• > ^spreading to the. once-dfe- dered be 
. ... '<i ; , ady-to-wear. Opulent fab- y* 

roses. 

^■AMS FASHION J£ tb ° 

C " " track of 

; * ■ /''pensive embroideries and plenty of 
■ .rd.' .accessories gave these col- Luxur 
'* r-.V’. a distinct carriage-trade gam's, w 
' • .Jt floral pai 

' V,\.tino’s clothes, in tone with and silk 
"S’- couture collection, were elaborate 
• : jy * and high'Waisted, with, shirts hi 
-■". * ‘.‘K*, a bit too much shoulder. Others h 
' *jre and strong in a reason shoulder 
■■,. ; Vhe lode has considerably were shir 
v V ■>jA Long sweaters hugging The di 
. V ." c v.lri£f made the body even tant at I 
. plie s gftiF 

: •' '•! coats were dashing and a sarong 

, . w , with plaids, tweeds and wide belt 
~ t- checks. The bri^it colors Ungar 
... . 3 purple — this season's striking 

- ; i*.- — and thepqjpy Valentino tweed or 
... .7 ^-<-5 newest coats had brightly velvet bn 

' : - r^ silk linings matching the erred coa 
. ' ' /.'/skins worn beneath then, sharp ed 
color played a strong satin top. 
^ this collection, Valentino IBs panr 
a symphony of grays, and brilliant ] 
some pine and perfect and purpl 
•: f^ud white dresses, draped & The co 
' : “’ r UrV^une Grts. was firm 

- made this coflectkm a that open 

- ■ luxury. Valentino worked green anc 

■ ' * and suede into refined byanodu 


Vc-^'-e finest 

M 


Lacy-Iooking 


leather, windi he introduced a few 
seasons agp, turned up on deluxe 
sweaters. There were tweed Wou- 
sons with fronts of Persian lamb. 

Hush quilting was applied to la- 
pels or to whole outfits. Embroi- 
dered hats were echoed in embroi- 
dered belts and even shoes, whose 
beds were set with rhinestone 
roses. 

Although' Valentino showed 
quite a few pants, he never lost 
track of short, sexy dresses with 
plenty of leg showing. 

Luxury also ran high at Un- 
garo's, where silks in paisley and 
final pattons were worn together 
and silk shin s under ■ suits were 
elaborately draped. Some of the 
shirts had sweetheart wrk 1 in<-t 
Others had panels swungover the 
shoulder like a cm; still others 
were shirred around tbe hips. 

The draped dress is still impor- 
tant at Ungaro’s, with fluttering 
cooes gathered over the left hip like 
a sarong and firmly held with a 
wide belt 

Ungaro piled on the velvet, with 
striking black -velvet lapels over 
tweed or satin jackets, and black- 
vdvet braid outlining brightly col- 
ored coats, giving them an ultra- 
sharp edge. Bicolor dresses had 
satin tops and black-velvet siring 
IBs panne velvet pants rame in 
brilfiant hues, including hot pink 
and purple. 

The color statement at Ungaro’s 
was firm mid came early. The trio 
that opened the show — hot pink, 
green and purple — was followed 
by another strongly colored group 
of outfits that looked like they be- 
longed on so many toy soldiers. At 


one point the designer had 14 mod- 
els, in every color of the rainbow 
and then some, lined up next to one 
- another. 

Bright accents included finely 
pleated . sOk scarves around the 
neck, and red or blue fox boas 
around the wrists. Ungaro's color 
combinations and mixtures of 
prints and patterns, however, were 
slightly less violent than in the 
past; this designer has often bor- 
dered on the garish. 

Despite all the skillful coloring, 
Ungaro was most applauded when 
he showed a pristine white-silk eve- 
ning group. 

Unlike Valentino, whose collec- 
tion rang a contemporary bell, Un- 
garo is always just this side erf cos- 
tmney. A fan of the Belle Epoque, 
he showed long suits, in paisleys 
andflorals, which had a melanchol- 
ic Edwardian look. Fashion is mov- 
ing in Ungaro's direction, with pe- 
riod dressing very much a part of 
street fashion now. 

The unsung heroes behind the 
perfect delivery of these two collec- 
tions were Marco Rrvetti, president 
of Gruppo Finanziaro Tessile, 
which tnnlrM? Valentino Un- 
garo ready-to-wear, and the fabric 
d esig ner Gianpado Pcriezza. With 
GFT, a highly industrialized busi- 
ness, Rivetti has managed to cot a 
niche for luxurious — and luxuri- 
ously priced — ready-to-wear. He 
has a factory near Turin where 250 
people do half the work by band, as 
m the old couture workrooms. 

Poriezza, whose heavy satins, 
stiff taffetas and jacquard <iTW 
were seen in Valentino’s and Un- 


assessed’: Richly Inventive Cabaret 


-■ . T f^ Sheridan Modey 

i, S.’\"S:enuititmal Herald Tribune 

»rr*“.^WN — A remarkable co- 


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r .“^rdnetion by tbealcra inLon- 
" 7 '. r ^ris and Milan, together with 
. ' 5 j Four television, has 
' ri. * ‘ the performance (now at 

‘ '■ Vaeida in Mngtaa) of Dos- 
-'vy’s “The Possessed,” the 
. 7 ^ cjt die director, Yuri Lyubi- 
7 ~-: <as fariaddea to do shortly 
- ' leaving his Taganka theater 
: •' '^^ry in the Soviet Union. 

7; “ :'-js been seen in Paris and 
" - • 7 . with a British cast whose 

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members adapt themselves . very 
wefi to Lyubimov’s eccentric car- 
toon style of presentation. There 
are moments faintly reminiscent of 
the “summarize Proust in 30 sec- 
onds” contest once devised by the 
Monty Python troupe;, but in tak- 
ing on a massively complex epk 
novel of revolutionaries in a gmafl 
pre-1917 Russian province, Lyubi- 

THE LONDON STAGE 

mov and a wonderfully versatile 
cast of 16, in twice that many roles, 
manage a li ghtning tOUT of Dos- 
toyevsky that, like all the best light- 
ning, is at once flashy and surpris- 
ing. 

The result is a kind of cartoon 
nightmare in which piano-playing 
or placard-bearing characters race 
across the stage in pursuit of revo- 
lutionary truth. Amid afl this, it is 
the natural mimes who do hist: 
Peter Kelly, looking more and- 
more like the young Slap. Laurel, , 
doubling as a pianist and a convict, 
or Michael Feast doing dnBy im- 
pressions of Lenin while getting his 
toes inextricably entangled in the 
keyboard. This richly inventive, K- 
zarrdy religious cabaret of Russian 
characters sometimes seems as 
tboagh it rm ght benefit from subti- 
tles, but, as we have already come 
to celebrate in Lyubimov, it has a 
rare and exotic theatricality that 
for 20 years has been curiously un- 
fashionable in European play- 
houses. You can’t take your eyes 
off it, but you will still miss a lot, 
for Lyubimov is essentially in the 
carnival business. 


At the Palace Theatre in Wat- 
ford, “A Private Treason" is the 
first stage play of the thriller writer 
P. D. James. In it she takes us 
straight bade to the heart of that 
curiously English world of public 
service mid private treachery. It is a 
world that has been carefully sifted 
by Alan Bennett in “The Old 
Country" and more recently “Pack 


of Lies,” currently running trium- 
phantly cm Broadway. To h, James 
brings an immense elegance of 
thought and dialogue bur not a lot 
of action. 

This is deariy the play of a writer 
who prefers the sound of a well- 
rounded paragraph to that of gut 
fire. For her to complain early in 
the evening about the length of the 
sentences in Henry James seems a 
little risky in the dght erf some that 
we are then treated to. To give 
away much of the plot would be 
unfair, especially as Leon Rubin's 
production richly deserves a West 
End transfer; suffice it to say that 
we are in the studio apartment of a 
wealthy and passionate civil ser- 
vant (Susannah York) with access 
to state seae ts and with a new, 
young, unemployed h usband from 
the wrong side of tbe social and 
political tracks. She also has a jeal 
eras ex-lover, played with a wander 
ful mixture, of sinister charm and 
. bitchy irritation by Robert Ed- 
ftdrsoh. Wbafresults is a triangle of 
emotional and political conse- 
quences stemming from her hasty 
marriage. ' 

. At the third comer of the trian- 
gle, Stephen Rashbrook as the hus- 
band has the most rijffjmit and 
demanding balancing act to per- 
form, and it is considerably to his 
credit that a final lunge into near 
melodrama does sot become total- 
ly laughable. Tbe drama is slow to 
start and extremely ponderous in 
some of its exposition, yet in here 
somewhere is an extremely stylish 
account of the public and private 
morality of English soda] attitudes, 
only occasionally marred by lines 
such as, “The death of love is a 
festering sore.” York gives, as al 
ways, a performance of extremely 
sexy intelligence, and though “A 
Private Treason” gets us no farther 
than “Pack of Lie?* in its questions 
about the line between loyalty to 
state and loyalty to loved ones, it is 
an eminently well-made and well- 
spoken evening for those who 
thought that they didn't write plays 
like this anymore. 


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garo’s collections as well as in 
Claude Montana’s, said all this lux- 
ury was new to ready-to-wear. 
“These are very expensive fabrics, 
which used to be seen only in cou- 
ture," be said. 

The final deluxe accents were 
given by Jean Barthefs hats, in 
both collections, rangin g from fax- 
edged cloches to Persian-lamb to- 
ques, and, for Valentino, Rend 


Caoyilk’s shoes, which were as ex- 
quisitely worked as jewelry. Cao- 
vflla — an I talian artisan, who has 
been called the Faberge of shoes — 
and Valentino have revived the 
jeweled evening shoe. The ones 
Caovflla made for. Valentino had 
crystal-faceted heels, black-jet balls 
over red lace, and black-silk bows 
ova- criss-crossed strings of black- 
jet beads. 


5 Volumes lor Its 900th Anniversary 


. . '-'t 



0«rf.G»« P) 

Ungaro pants suit; Valentino everting gown. 


By Jo Thomas 

.Vph- York Tuna Strnce 

L ONDON — The Domesday 
* Book, the great survey of En- 
gland commissioned by William 
tire Conqueror in 1085, is being 
taken apart with a scalpel, page by 
page, at the Public Record Office, 
to be divided into five volumes and 
rebound for its 900th anniversary 
next year. 

The original manuscript, more 
than 800 parchment sheets, each 
cut from a whole sheepskin, was 
divided at least 700 years ago imo 
two volumes. Great Domesday and 
Little Domesday, the latter cover- 
ing Essex, Sussex and Norfolk in 
great detaiL It retained this form 
through at least five rebindings, the 
most recent in 1952. The bindings 
are so thick and inflexible that 
“there is a risk erf the membranes 
being damaged when the pages are 
turned,” said Helen Ford, head of 
the Public Record Office's conser- 
vation department. So four indies 
of glue are coming off, and the two 
bulky volumes will become five 
slim rates. 

“There has not been the conster- 
nation from scholars that might 
have been expected,” Ford said. 
“All the academics we consulted 
were rather enthusiastic. We want 
to ensure that Domesday is fit to 
last another 900 years.” 

Domesday (pronounced Dooms- 
day), a popular name derived later 
from its status as a record from 
which there was no appeal, is one of 
the most famous books in the 
world, but visitors to the Public 
Record Office’s museum in Chan- 
cery Lane usually have only a 
vague idea what it contains, offi- 
cials there say. 

Inscribed in brown writing on its 
gray pages is a record, in abbreviat- 
ed Latin, of what William of Nor- 
mandy and everyone else in the 


country owned, from land to bee- 
hives; where it was and what it was 
worth, starting from 1066. Of the 
13,000 place names in tile book, all 
but two percent can be identified 
on modem maps. There are no sur- 
veys of Loudon or of certain other 
towns. 

Included among arid details of 
real-estate assessment and valua- 
tion are such gems as how many 
live eels each mill owner owed to 
the crown and the existence in 
those days of one female jester, or 
joculatrix. There are sporadic en- 
tries on political or social history, 
such as a note made by scribes at 
Chester “If a widow has inter- 
course with anyone unlawfully, she 
is fined 20 shillings. A girl pays 10 
shillings for such an of tense." 

It is expected to take a staff of 
three specialists 18 months to 
clean, repair and rebind the 
Domesday Book. Each page will be 
photographed for a facsimile edi- 
tion to be published in 1986 and 
sold for £2,000 (now’ about 52.300). 

Starting in early April 1986, the 
rebound Domesday Book will go 
on exhibit at the Chancery Lane 
museum. The spring and summer 
exhibition will re-create aspects of 


everyday life in Norman England. 
Domesday Book anniversary cele- 
brations, beginning in October, will . 
indude jousting at the Tower of- 
London and village festivals. 

In conjunction with the anniver- 
sary, the British Broadcasting' 
Corp. is produdng an electronic 
equivalent of the Domesday Book: 
enough information about tire early 
1980s to fill two sets of the Ency- 
clopaedia Brittanica. 

■ Data Being Computerized 

Computers at the University of . 
California at Santa Barbara are be- 
ing fed Domesday's millions of sta- 
tistics, United Press International 
reported from London. This will 
produce a full index as well as com- 
puter compilations of, for example, 
the number of slaves, fisheries and 
vineyards in 10S6 England. 

Maimonides Honored 

UiuuJ Prea Imenuuional 

CORDOBA, Spain — Cordoba 
is holding a week of round tables, 
conferences and recitals of Sephar- 
dic music to honor the Spanish- 
Hebrew philosopher Moses Mai-' 
monides, bom in this .Andalusian 
city 850 years ago. 


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U.S. Help for Cambodia? 


A great terror overtook Cambodia, when the 
United States departed in 1975. The Khmer 
Rouge tilled a million or two of their fellow 
citizens, and subsequently the Vietnamese in- 
vaded. Resistance gpes on. The United States 
has had no taste for any sort of military in- 
volvement in Indo china in the last 10 years, 
but the question now arises whether Washing- 
ton should not go beyond political support 
and extend modest aid, through the Thais, to 
the non-Communist Cambodian resistance — 
to Son Sami’s Khmer People’s National Liber- 
ation Front, not to the Communist Khmer 
Rouge. That is the aim of a S5-m£Dian aid 
proposal, launched in the Asian subcommittee 
of the House Foreign Affairs Committee by 
the subcommittee’s chairman, Stephen Solan, 
a Democrat of New York. 

Aid to Cambodia? Aid that could take a 
military form? A new U-S. involvement in 
Indochina? The thought is enoug h to send a 
surge of alarm through the large community of 
Americans who have come to identify Indo- 
china as the ultimate American disaster area in 
this century. That the contemplated aid is 
meant to be small and indirect, with no physi- 
cal U.S. participation on the ground, is sure to 
be taken by many people as a ago either that it 
contains a core dement of deception or that it 
win inevitably grow and slip out of control. 
The proposal arises during the lOth-anniversa- 
ry review of the American defeat, which win 
no doubt intensify the warnings agains t it. 

Is it not time to take a more measured view? 
Tbe so-called Vietnam syndrome, operative 
for a decade now, tends to make Americans 
shrink from uncertain involvements in which 
force may have to be brought to bear. We have 
never felt there was value in demonstrating 
that America was no longer hobbled by exces- 
sive regard for this “lesson” of the past. On the 
contrary, the leading Vietnam lesson — the 
requirement for the utmost care and serious- 


ness in defining and defending U.S. interests 
—remains central But, of course, tbe world is 
still there, and the United States still feds itself 
to be a global power. In all of this, bringing 
force to bear, or supporting the use of force by 
others, has its irreducible role. 

In Cambodia? It meets certain of the agreed 
tests: The friendly party — die non -Commu- 
nist KPNLF— is reasonably democratic. The 
hostile party is not a sitring government of 
some legitimacy but a foreign occupying pow- 
er, the Vietnamese. Americans care about the 
victims — Cambodians. Aid could serve the 
practical purpose of helping ensure a seal at an 
eventual settlement table for the KPNLF. 
There is an American strategic interest — to 
contain Soviet power and reassure American 
friends. The possibility of a supportive politi- 
cal consensus is at least suggested by the fact 
that the sponsor. Representative Solan, was 
first elected to Congress as a liberal Democrat 
10 years ago just as Smith Vietnam and Cam- 
bodia were falling under Communist rule. 

You might think that the Reagan adminis- 
tration, devoted as it is to an ideology of 
freedom, would be out front on this one. Actu- 
ally it is hanging back, letting others break the 
path. It feels that the case has not been made 
that non-Com munist Cambodians need U.S. 
aid or would profit from a more direct Ameri- 
can involvement; there is also the danger tha t 
providing such help, even in a token way, 
might pat a distracting American stamp on a 
cause whose Asian sponsorship is an impor- 
tant asset. American policy in Cambodia, un- 
der the last two presidents, has sought out a 
useful supporting role. That some Americans 
are prepared to consider going beyond that is 
an event in the evolution of the political cul- 
ture. But the burden remains on those who 
would take the step to construct the necessary 
doubly persuasive justification for it. 

— THE WASHINGTON POST. 


Selling Government Debt 


Senators Daniel Patrick Moynihan and 
Frank R. Lautenberg are proposing a novel 
way to reduce the UJS. federal deficit. They 
want the government to sell its enormous port- 
folio of loans to private investors, realizing, by 
Congressional Budget Office estimate, 5134 
trillion over the next time years. 

[ The plan would indeed reduce the budget 
deficit, but the direct benefits would be more 
apparent than real. For the sale of government 
property, in contrast to a reduction in spend- 
ing on Social Security or defense, would have 
po effect an interest rates or private invest- 
ment StiU, the senators may be on to some- 
thing. By selling off government loans, the real 
cost of the subsidies hidden in loan programs 
would become clearer to the taxpayers. 

In periods of economic boom, government 
deficits damage the economy by absorbing 
financial resources that would otherwise be 
invested productively by individuals and cor- 
porations. This year Washington will cover its 
obligations by borrowing an extra $200 billion 
with bonds to the public. As a result, some of 
the private borrowers lined up for credit be- 
hind Uncle Sam will fail to get it. Others wiH 
have to borrow abroad, creating an obligation 
to foreigners that must eventually be repaid 
with lower living standards for Americans., 

* Now consider the effect of selling, say, 
SI billion owed by the Boring Corp. to the 
government's Export-Import Bank. Hie pro- 
ceeds from the sale would show on the gown- 
meat's bodes as revenue, reducing the federal 
deficit by $1 billion. That in turn would reduce 
the government’s need to borrow by the same 


amount. But note that the sale of the Ex-fin 
Bank’s securities to the public would also ab- 
sorb SI billion in private savings, canceling out 
the primary benefit of reducing the deficit. 

From this view, selling off SI billion in 
government-owned debts is no better than the 
Treasury sdling SI billion in new debt — or, 
for that matter, sdling off B-52s and leasing 
them back. Indeed, by offering cosmetic relief 
to the deficit problem, it would relieve the 
pressure on tbe Congress to cut actual spend- 
ing or raise taxes — something that would 
actually free savings for private investment 

Why then bother with what amounts to an 
asset shuffle? The government is currently 
owed a total of S245 billion by a diverse group 
of debtors including fanners, small businesses 
and poor countries. Virtually none of these 
loans are worth their nominal sums. Some are 
unlikely to be repaid. Most promise interest 
income below market rates. But discounted 
accordingly, at least some of the debt could be 
sold And by selling concessionary loans to 
private investors, who would naturally pay less 
than 100 cents on the dollar, the government 
would at least be forced to reckon honestly 
with the now-hidden cost of the loan subsidies. 

That alone is reason enough to pursue the 
idea. What is not known, however, is whether 
private investors would buy the higher-risk 
debts to government at a reasonable price. The 
way to find out is to test the market with some 
higher-quality obligations. Auctioning them 
off promises no panacea, but it could be a step 
toward more responsible government. 

— THE NEW YORK TIMES. 


Other Opinion 


(Gorbachev: A True Reformer? 


■ Nobody knows whether the new man in the 
Kremlin will have enough power to give practi- 
cal effect to the reforms he is said to favor, or 
indeed whether his reputation in that respect is 
jeaHy deserved But he talks in a way that 
accords with modem realities, by contrast to 
the cliches churned out by his predecessors, 
and he seems more inclined to face economic 
realities than the old guard be replaces. 

— Neue Zurcher Zeilung (Zurich). 


^Soviet Bullets, American Blood 


factions seeking to embarrass the current lead- 
ership. In any case, relations between the two 
superpowers are bound to be strained just as 
arms negotiations and preparations for a sum- 
mit get under way. 

If Congress now becomes more receptive to 

administratio n pleas for higher defense bud- 
gets, the Russians will have only themselves to 
blame. Mr. Reagan, however, has set the tone 
by looking ahead to a summit. By the same 
token. Congress should continue its critical 
work on the defense budget despite the emo- 
tions unleashed by this tragic death. 

— The Baltimore Sun. 


Soviet use of deadly force in the killing of a 
U.S. military liaison officer in East Germany is 
an outrage even if Moscow’s verson of the 
'tragedy is taken at face value. We are left to 
speculate once again, as with the downed 
south Korean airlmer, whether Soviet brutal- 
ity is the result of overly rigid standing orders 
or provocations either by the Kremlin or by 


This was the first time in 40 years of Cold 
War that a soldier from one superpower has 
fallen under the bullets of a soldier from the 
other superpower in a direct confrontation. So, 
in the first instance, this is the exception that 
confirms tbe rule of coexistence. 


— Le Monde (Paris). 


FROM OUR MARCH 27 PAGES, 75 AJND 50 YEARS AGO 


1910: Keeping Peace in the Balkans 
ST. PETERSBURG — The reception in Rus- 
sia given to the King of Scrvia is a proof of the 
closeness of ihe traditional relations of the two 
States, fin the course of the interviews between 
the Russian and Servian Minis ters of Foreign 
Affairs, various questions interesting to the 
two Governments were examined, and it was 
settled that both sides attached essential im- 
portance to the main tenance of peace in the 
Balkans. In the opinion of die Servian Govern- 
ment, the kingdom will find a precious support 
for its free and pacific development in its good 
relations with Turkey. The Servian Govern- 
ment will at the same time use every effort to 
maintain similar r elati ons with its neighbor, 
Bulgaria. The Russian Government fympa- 
fhizes sincerely with Servia, and will give her 
its active moral support in this regard. 


1935: Roosevehfe Unpopular Rdbmis 

WASHINGTON — The observation is gener- 
al that the second anniversary of FD. Roose- 
velt’s occupancy of the White House finds him 
in difficulty. ‘‘Reform” is too mild a word to 
describe the changes in American ways of life. 
It is dear that some of these innovations have 
gone badly, and that the sum of them, when 
pressed down on tbe familiar American pat- 
ton of society, causes the whole to be some- 
thing winch is not a workable form of society 
and government, in America or anywhere else. 
It would not be accurate to say that the Na- 
tional Recovery Administration is universally 
regarded as a mistake or a failure But it is so 
regarded by so large a number of Democrats, 
and by so many of the Prcsidcnfs most sincere 
well-wishers, as to create a reason for the 
President to review his own attitude about it. 


INTERNATIONAL HERALD TRIBUNE 
JOHN HAY WHITNEY, Chairman J 958- 1 982 


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at Long Island City. N.Y. 1 1 101. 
AB rights reserved. 




P RINCETON, New Jersey — A 
major straggle over Soviet do- 
mestic policy wul be greatly intensi- 


By Stephen F. Cohen 


mestic ^ _ 

died by the choice of Mskhm Gorba- 
chev, a reform-minded leader, to 
sinxxtd Konstantin Chernenko as 
general secretary. The outcome will 
be felt far beyond Moscow. 

With the conspicuous exception of 
tbe Soviet Union, market-oriented 
reforms have been transforming the 
economic nature of communism 
from East Berlin to 1 


in Eastern turope ana rapidly in t 
na, the Stalinist model or almost total 
state control is riving way to more 
diversified and decentralized econo- 
mics in which small private enter- 
prises play a growing role. If the Sovi- 
et Union remains apart from this, 
eventually it mil again be surrounded 
by social systems unlike its own. 

That prospect is ironic, because the 
first communist experiment in mixe d 
economics occurred in the Soviet 


Union 60 years ago. In 1925, Soviet 
tea p 


leaders legislated policies almost 
identical, to those now under way in 

Ghina, mmurapp peasant farmers 
to “enrich’’ themselves, allowing arti- 
sans and merchants to flourish, and 
subjecting state enterprises to market 
competition. Known as the New Eco- 
nomic Policy, or NEP, the experi- 
ment was abruptly abolished by Sta- 
lin in 1929 in favor of the 
monopolistic state fystem that be- 
came his institutional legacy. 

It is not as if reformers in Che 
deeply conservative Soviet establish- 
ment have not been trying to 


significant reform, even a timid ongo- 
ing program to increase the autono- 
my of plant managers, in a recent 
Soviet poll many managers said cen- 
tral control had actually increased. 

Above afl, conservatives rqea 
market-oriented reforms, even rumor 
ones such as authorizing private taxis 
or family restaurants. Nor are they 

willing in im fentr t V * tiny fauahokl 

plots on collective farms, which or 
less than 5 pe r c en t of tbe land yield 
25 percent to 30 percent of all agncul- 
tural output. With a hose, a peasant 
farmer could produce even more, but 
conservatives still defend Statin’s ban 
on private ownership of horses. 

Contrary to some Western reports, 
conservatives are sot really afraid of 
a ”76111111 to capitalism” or “democ- 
ratization’’ in any meaningful sense: 
Even in communist countries with 
extensive marketizarion, that has 
never been the result. And yet, the 
widespread fear of reform is rnsrinc* 
trvdy both economic and political 
Market economics and other decen- 
tralizing measures pose com peti tive 
tests of wofolace performance. They 
threaten millions of citizens in a sys- 
tem that does much to promote inef- 
ficiency and nothing to pmtish it, and 
that guarantees the jobs ctf superflu- 


ous bureaucrats and slothful workers. 

Marketizarion is also a Soviet code 
word for less political control of soci- 
ety. If the sphere of private enterprise 
grows, the realm of the state win 
[jffltnkh- Central authorities will 


have to deal with autonomous pro- 
ducers through persuasive market re- 
lations, whim are a buffer against 
capricious bureaucratic power. The 
result wiH not be democracy but a 
certain liberalization that would 
spread, given the need for freer com- 
munication, to censorship and other 
areas of political control. 

Understanding these frightening 
ramifications, Soviet conservatives 
have always maintained that marketi- 
zation may be safe in small commu- 
nist countries such as Hungary, but 
not in large ones- The dramatic re- 
forms in C hina, an even more popu- 
lous country, will not easily change 
their m ' n ^ TnHewt, they have im- 
posed a virtual ban on candid press 
accounts of the Chinese experimenL 

Nonetheless, in the policy struggles 
that always follow a succession, re- 
formers have their best chance in 
years to sell the market to Soviet 
leaders. They insist, as they did in the 
*60s, “better late than never.” 


The writer is aprofessor of politics at 
Princeton University and a frequent 
commentator an Soviet affairs. 



e I hear China has gone capitalist. Got anything 



Capitalism: Dynamic, Destructive, Doing Just FM 


role for private enterprise in provid- 
ing consumer goods and services, and 
a partial decentralization of the state 
sector to free local manag ers from 
irrational central directives. 

Despite having been politically de- 
feated in the 1960s and all but si- 
lenced in the 1970s, reformers have 
staged a comeback. Among other in- 
dications, they have regained access 
to nffidal intellectual journals whose 


W ASHINGTON — Capitalism is 
on a roH Free-markci East 
Aria is booming America, under as 
administration of Cb oEdg ian inclina- 
tions (Codidgc was the ultimate 
hands-off president: When his 
was announced, Dorothy Parker 
asked “How could they teH?”}, is 
enjoying what the Europeans call the 
American miracle. American liberals 
and incentives. 


By Charles Krauthammer 


axe 


express behind-the-scenes po- 
tnan 


antes more candidly 
does the daily press. The result has 
been an outburst af controversy. 

Last April for example, the jour- 
nal Problems of History featured two 
extraordinary calls for reform. One 
was an unprecedented editorial laud- 
ing the party’s policies of 1953-64, the 
period of Nikita Khrushchev’s far- 
reaching reforms that conservative 


French Socialists have given up redis- 
mbutiooist dreams. 

And now Chinese Communists 
have joined the cult of tbe market In 
fact, they have supplied the most re- 


in its purest form 
it is Darwinian , 
and meant to be so. 


was an article on Lenin's introduc- 
tion of NEP. In it Evgeny Armbart- 
sumov, an advocate of market com- 
munism, argued that political crises 
in communist countries, from Soviet 
Russia in 1921 to Poland today, are 
not caused by internal and foreign 
enemies, as conservatives allege, but 
by bureaucratized economic systems 
that fail to meet consumer needs. 

Mr. Armbartsumov’s message was 
twofold and urgent The unreformed 
Soviet economy could generate a Po- 
land-like crisis; and a new NEP is the 
only solution. 

Conservative reaction was predict- 
ably intolerant. Kommumst, the 
journal of the party apparatus, 
charged Problems of History and 
Problems of Philosophy, which had 
published rimilarly provocative arti- 
cles, with “violating” Marxism-Le- 
ninism. Late last year, both admitted 
“errors,’* hut hardly in a way that 
suggested contrition. And in January, 
the philosophy journal retorted by 
editorializing, against “dogmatic 
ideas,” and included protective quo- 
tations from Mr. Gorbachev. 

The journal war signifies that the 
question of fundamental economic 
reform has been reopened at high 
levels. Given the country’s serious 
problems of productivity and short- 
ages, and its recent leadership 
changes, that development is not sur- 
priring. But powerful conservative 
forces remain implacably opposed to 


: for it In 
the six years smee market incentives 
in fanning were introduced, China's 
grain harvest has grown by a third. 
For the Gist time in history China is 
self-sufficient in staple foods. For 
1984, a year of further deregulation, 
as we say here, it reports an astonish- 
ing 12 percent growth in national 
income. Somewhere in heaven a pair 
of invisible hands is dapping, and 
they belong to Adam Smith. 

Down hoe, however, many hands 
are wringing. They belong to steel- 
work ers, fanners and, now, savings- 
and-loan depositors. The ravaged 
steel towns, the bankrupt farmers, 
the locked-out savers evoke Depres- 
sion images. When 71 Ohio S&Ls 
were closed by order of the governor, 
pointed reference was mane to the 
fact that it was the biggest bank dos- 
ing since the ’30s. 

The implied analogy is wrong. 
These disasters are the product not of 
capitalism's failure but of its success. 
In 1984 the American economy grew 
faster than any time since 1951. The 
paradox of capitalism is that it is 
most successful when most dynamic; 
and when most dynamic, it is most 
destructive. It is, in Schumpeter's 
famous phrase; a system of “creative 
destruction.” In its purest form it is 
Darwinian, and meant to be so- 
il is not easy, however, to admit tbe 
inherent destructiveness of one’s eco- 
nomic system. Fariw to find villains. 
Hence, for example, the absurd do- 


bate on the farm crisis. David Stock- 
man would like Americans to believe 
that the culprits are a bunch of specu- 
lators in overalls who bet the farm in 
the 70s on rising land prices andlosL 
Hollywood pretends that the prob- 
lem is a bunch of cold-hearted bank- 
ers and bureaucrats who, far the sake 
of a healthy bottom Hne, are prepared 
to torment even Jessica Lange. 

The real cause makes neither a 
good political target nor an attractive 
movie fofl. Forty-five years ago, a 
quarter of Americans lived on farms. 
Now 90 percent of them are gone — 
and the country Is overproducing 
food. What made that miracle possi- 
ble, and is now driving the remaining 
few off the land, is technology that 
u c miits vast economies of scale, 
when a farm family has to borrow 
half a milli on dollars for machinery 
to keep up with larger operations, it 
becomes dear that fanning on this 
scale is simply obsolete: 

With new crises come new villains. 
The newest victims of robust capital- 
ism are half a million savings-and- 
loans depositors. How robust? One 
bank, the biggest of Ohio's 71 pri- 
vately insured S&Ls, did chancy 
business with a fraudulent company, 
lost everything and thus bankrupted 


the private insurance that was pro- 
tecting the other 70. Tbe S& L s were 
shut, and depositors feared for sever- 
al days that they would never see 
t heir savings a gam- 
It seems like a case study in tbe 
pails of deregulation. Remove the 
rap on interest rates and aS institu- 
tions, even tbe most staid S&Ls, wiH 
have to compete frantically to pay 
depositors higher rates. Some will go 
into more speculative investments. 
And some will go under. The Wall 
Street Journal scoffs at the suggestion 
that the problem is caused by deregu- 
lation. 

deal 


is to assume that without fool 
knaves cat 




cause is 

Journal: a foolish bank, a 
and a couple of wheeler-dealers. 

But surely the larger point is that 
capitalism welcomes, indeed invites, 
foolish bankers and wheeler-dealers 
to the market. Market entrance re- 
quirements are based not on ethics or 
intelligence, but on what my fatter 
calls ^Lincoln’s recommendation." 
or that of any other face on the cur- 
rency. The way to protect the system, 
the banking system in particular, 
from too much risk and too many 
rogues is regulation — Le^ artificial 
constraints cm the market. 

It does no good to blame foolish 
fannos or greedy bankers, if to do so 


cycles and debacles. 

Ite most poignant example 
ish coal Arthur ScargQl is a 1 
provocateur, and Margaret Thai 
an Iron Lady. Both have a J‘ 
ance for other parole’s pain. Bt 
therwifl have lolled the muting , 
that are now to die. They are ] 

of energy substitution, foreignl/p/ f f 
petition and environmentalism/ 
is a 19th-century fud, as modi 
family farm is a 19th-century h.! • 
prise. Capitalism writes and, t ' 
writ, moves on. 

The tittle saver is shaken by i 
illation. Tbe family farm is cr 
by mechanization. And indi - 
workers fall to history and tet 
ogy. Capitalism is working. 

It is the first system in hish . - 
lift the mass of men out of ccoi .. 
misery. But to keep the engine i . 
it randomly visits misery on se' 
groups. Instead of searching f< 
lains, it might be more humai. ■_ 
the rest of society, which be ~ 
from that mighty engine, to c . 
some of its vast surplus to cushi . 
the fall of its victims. 







%: 

t> 


4 


* -ft 


rt\ 

Mi 


The writer, a senior editor c 
New Republic, contributed this 
meat to The Washington Pass 


i * 

.■i 


America’s V anishing Act in the Midea* 


W ASHINGTON —To, listen to 
President Reagan in bis most 
recent press conference, one would 
hardly know that there had ever been 
a Middle East peaoe initiative with 
his name on it, to say nothing of the 
Camp David accords: “But our pro- 
posal in the very beginning was that 
we did not want to participate in the 
negotiations. It wouldn’t be any of 
our business to do so.” 

In 1982 he drew anotter picture of 
the U.S. role in the Middle East peace 
effort: “Our involvement ... is not a 
matter of preference, h is a moral 
imperative. The strategic importance 

of the region is well known 1 

recognize that the United States has a 
special responsibility. No other na- 
tion is in a position to deal with the 
key parties to the conflict on the basis 
of trust and reliability.” 


By William B. Quandt 


Lata, in private talks with King 
Hussein of Jordan, the president 
went far in committing the United 
States to an active role in the search 
for peace: If Jordan joined the negoti- 
ations, he said, the United States 
would undertake to get the Israelis to 
cease settlement activity in the West 
Bank and Gaza. He also promised 
that the United States would try to 
shorten the transition period from 
tbe five years envisioned in the Camp 
David accords ami support the idea 
of fff 11 med ian* tpnry on the final status 
of the occupied territories. 

If Mr. Reagan has now forgotten 
all this, Hussein has not — and yet 


tbe essence in diplomacy, and 
less activism can be worse that - - 
sivity. A good case can be urait :. 
the Tsrawie need more tima 1 - - 
they can be expected to enter ft. . 
talks cm tbe West Bank and , 
Prime Minister Shimon Feres b - 
hands f nH with LefafflOD an . 
economy and can scarcely r.. . 
showdown with his Likud cos 


.'■ 4 % 


partners on the Palestinian tjue 


people ask why he and otter Arabs 
are beat 


Unintended Eloquence From Reagan 


By Tom Wicker 


r ASHINGTON — Sometimes 


WV i have to wonder if the 
Great Communicator is aware of all 
that be communicates. Here is a 
one-liner from President Reagan’s 
remarks at the Gridiron Chib’s din- 
ner in Washington last Saturday: “I 
think we should keep the grain and 

T rt the fanners.^ 

did not attend the dinner, and 
do not fed bound by its audition 
that “reporters are never present.” I 
beard cu this “joke" from someone 
who was there, and It was reported 
in The Washington Post.) 

With so many farmers losing 
their land — often through no fault 
of their own — and suffering from 
outmoded government policies, a 
declining farm economy and crip- 
pling trade restrictions, Mr. Rea- 
gan’s graceless quip at their expense 
suggests that he just does not care. 

Farmers already know be used 
misleading statistics, in vetoing a 
recent farm “rescue” bin, to nnni - 
mize their plight; of course he does 
not have to ran a gain, but other 
Republicans are likely to fed the 
farmers’ resentment in 1986. 

Mr. Reagan also regaled the 
press-dub diners with cnee-slap- 
pers about nuclear weapons and 
arms control. Nobody need worry 
abort rumors that he sees a psychi- 
atrist, he is reported to have said: “I 
just rit in my office pushing buttons 
all day." And “there’s good news 
from Geneva — Nancy, your watch 
is ready.” 

Maybe nightclub comics can get 
away with button-pushing jokes, 
but a man with his finger actually 
an tbe button may be revealing 
more of himself than be knows. 
And with a new Soviet leader in 
office and the Geneva talks just 
starting, making light of them 
seems ul -timed and contemptuous 
of what hope there may be. 

Thus did the Great Communica- 
tor complete a week in which be 
had suggested, at his news confer- 
ence, that blacks in South Africa 


tS it A Biblical, 



BY Plarztv ki La Monde (Paris]. Cart oo n Ms & writers Syndicate. 


were brin g in g the Afrikaner 
eminent’s violence on 
because “there is an dement in 
South Africa that do not want [sic]' 
a peaceful settlement.” For an op- 


gnd unarmed majority of 
live without 


ith Africans, who live 
fundamental rights wmIw a brutal 
government, that was the bade of 
Mr. Reagan's hand. 

But at the same news conference 
tbe same Mr. Reagan declared that 
in backing the armed violence of 
the Nicaraguan “contras,” the 
United States was pursuing a “tra- 
dition" of “trying to help people 
who had a communist tyranny im- 
posed on than by force, deception 
and fraud.” Does he really mean to 
suggest that the “communist tyran- 
ny” in Nicaragua is more to be 
despised than the rightist racial tyr- 
anny of a well-armed white minor- 
ity in South Africa? 

Closer to borne, Mr. Reagan dis- 
played an utter lack of concern 
when asked about “major sources 
of information like news networks 
being taken over by political activ- 
ists. He pretended ignorance of 
Senator Jesse Helms’s takeover 
campaign against CBS News 
(“Boone Pickens, was that who 
you’re talking about? 7 *), then dis- 
missed the subject: “I don't have 
any comment on that.” 

Even some who believe that net- 


works and newspapers have a liber- 
al bias might have wished that Mr. 
Reagan Had issued livelier warning 
than that against a deliberate ideo- 
logical campaign to buy a network 
and turn its news report into openly 
one-sided propaganda. 

But he was not even willing to 
defend reporters — a hundred or so 
of whom sat before him, some to be 
jovially called by their first names 
— against charges that they are 
unpatriotic and contemptuous of 
American values. 

“No, PH tdl you,” he said, “I 
think HI leave that argument to 
others. I won’t even get mto it.” 

The Great Communicator also 
communicated his famous inatten- 
tion to detail. He said he had not 
yet seen a speech by the British 
foreign secretary, in which impor- 
tant British concerns about the 
“star wars” defense plan were 
voiced: yet the speech had been 
made on March IS. seven days be- 
fore the news conference. And of 
his decision not to visit a Nazi con- 
centration camp rite while in West 
Gexmany, he remarked: 

“The German people have very 
few alive that remember even the 
war, and certainly none of them 
who were adults and participating 
in any way.. . ." That will be news 
to a lot of Germans. 


The New York Tones. 


leritant to join negotiations. If 
the president does not fed bound by 
his own words, what about the Camp 
David accords the Egyptian-ls- 
radi peace treaty? During those his- 
toric negotiations, President Jimmy 
Carter committed the United Stales 
to the role of “full partner” in the 
peace process — a point accepted by 
both Anwar Sadat and Mcnachcm 
Begin in a letter they sent to Mr. 
Carter confirming their understand- 
ing . .that the United States gov- 
ernment will participate fully in all 
stages of negotiations.” 

What can account for this dear 
change of attitude? Perhaps the trag- 
edy of Lebanon and the late of mis- 
guided U.S. policy there have con- 
vinced Mr. Reagan that the area is 
best avoided. And perhaps the Unit- 
ed States can afford to turn its back 
on Lebanon. But what about the rest 
of the Middle East? Is America pro- 
viding more than $5 hiTK«n annuall y 
to the region, and pairing in vast 
quantities of arms, without s ome 
sense that it has interests thee? 

True, oil prices are down and the 
threat to oil supplies is momentarily 
limited. And true, the Russians are 
not making great gains at UiL ex- 
pense. Nor does the danger of an 
Israeli -Syrian war appear immin ent 

There are sound reasons for Amer- 
ica to adopt a “go-slow” posture to- 
ward Middle East peace. Tuning is of 


On the Arab ride, too, 
good arguments for caution. Sv ~ 
deeply opposed to the efforts b .. 
dan, Egypt *°<i the Palestine Li' 
tion Organization to get peace 
nations started. No one sea;.;, 
know how best to deal with the .'. ~ 
ans. And Egypt, Jordan and the 
arc still working on somewhat c r. 
ent wavelengths. 

Still, there is Aegean of a co.~ ; 
sus among them, and it involv ■ - 
initial dialogue between a Jorda; - 
Palestinian drifigatinn and the - : -- 
ed States. President Reagan is,. , 
trovided the PLO is 
but there is no enthn ' / 
for the idea in Washington. 

While the parties to the co, ' ; 
will have to deal directly witF.J; 
another at some point, it is Kale r; " 
than escapism for Mr. Re agan ti.- : -- 
for direct negotiations with no'; 
participation. Successful neg''-* 
tions between Israel and the / - " 
have always combined some 
of mediation and direct conta;- 
may be a comforting notion fa ^ 
Reagan that at so me p oint ibeIs -~.~ . 
and Arabs, with a bit of help 


rag, pro 
included. 


him, will sit down and make p 
* mo 


But without a good hit of m 

hnrolmo and si gning , and WT 

U.ST inducements, it seems uni 
they will do so. 

For Mr. Reagan to bold back 
longer would be not only a 
from his own peace initiative, 
Camp David but also a boos 
precisely the forces in the regica 
most strongly oppose U5. inters jjf 


The writer, a senior, fellow 6, 
Brookings Institution, was a irn'lli. 
of the National Security Council 
1977 to 1979. He contributed this 
mem to the Los Angeles Tones. 



tistnued 

Jn ' h « 


LETTERS TO THE EDITOR 


Taiwan: Not a Police Slate Manila Dates and Data 


Regarding the editorial “Taiwan 
Strains a Bond ” (Feb. 13): 

My colleagues and I are as shocked 
as you to know that hi^b-rankmg 
intelligence officers were involved in 
Henry Liu's murder in a San Francis- 
co suburb last October. But political 
murders happen in almost every 
country. They should be condemned. 
But a single political murder cannot 
demonstrate thar this country is a 
police state or a “republic only in 
name.” On the contrary, it reveals 
that the government is no longer om- 
nipotent. A growing plural and dem- 
ocratic country like the Republic of 
China needs to be encouraged 


UU CHIH-KUNG. 
Institute of 
International Relations. 

Taipei 


William Pfaff, in his column ' 
nila and Seoul Working for a. . 
Imperfect Future” (Feb. 21U 
martial law was imposed in 1973 " 
date was Sept 21, 1971 He say 
constitution was amended in 19* 
constitutional convention to ct 
die charter was convened in - - 
long before the declaration of nr 
law. The draft of the new constift : 
was ratified early in 1973. • v ; ' 

Mr. Pfaff refers to the pariian 
of both South Korea and the PI / 
pines as “powerless” and says u :• 
nans are thought necessary, ev, 
rigged” Such generalizations at .- 
insult to the members of the PI V: 
pln^ p arliament, one third of w ■ • ; 
are opposition members. : . *’ 
MARIBELCDARJ ' 
Office of Media Affu 
... . Mam 
















ty 


INTEBISATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


INSIGHTS 



Some Doubt Thatcher Can Revive 
The Spirit of Enterprise in Britain 


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Maddlne M. K a n i n , the governor of Vermont, outside die capital building in Montpelier. 


TIM WrWiirynjii Post 


v 0 iUkely Governor Takes the Helm, 
} ' '{I Stern Yankee State of Vermont 


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"jf •: ' By Kevin Klose 

n. v ' ffintoipan Pjw Sendee 

r’^f ONTPELEER, Vermont — Not since 
j~- J Ethan ADen captured a British fortress 
:.^L without firing a shot 210 years ago has 
^-ermont leader so bested the estabbsh- 
5 odds as Madeleine M. Kunin, new gover- 
r / * ethe most rock-ribbed and rural US. state; 
' -more than that she is one of only two 
'’ -■i governors in the United States. Her 
r -^:>h reads like a fictional storyline: an im- 
-tt Jewish woman who is a Democrat gov- 
’ -V' flinty, RepnHican, Yankee Vermont. 

• -5 since Mrs. Kunsn's widowed mother 

her son and daughter to America in 
-ram Nazi-dominated Europe, the gover- 
•' '.sailed recently, “I felt this sense ofopti- 
-that yon could do anything. 

“• ‘cy mother felt very strongly about that for 
-o of us," she sakL “The whole Horatio 
myth was alive and wdl as far as we were 
timed. 1 flunk everyone who comes here, 
P [ was the immig ra nt experience, brings a 
‘iisetof values for life that you cany with 

..vihoagb Mrs. Kumn, 51, said rite never 
. : Jy apphed tbe myth “to mysdf, as a girl, as 

* -t tan, t think , indirectly, it did irffwt me 

: -_hink.it also left me with, sympathy for the 

- rJog," she said, “some land of social con- 
a e, which I think is inmortant.” 

Knnm is Vennant's third Demomtic 
lor, the first woman chief executive in the 
_• history and, with Martha Layne Collins 
: atneky, one of two women governors in 
-sited States. 

”, was bom Madeleine May in Zurich, the 
i child and only daughter of a Swiss shoe 
ter. Her father died when she was three, 

' te mid her older brother, Edgar May, grew 
^ straitened circumstances. 

- une 1940, as France was falling to Hitler’s 

her mother fled to Italy. 

h. 3,000 other Jews, the family jammed 
'.d the S^S. Manhattan, a liner with 900 

i. It was the last ship allowed to leave 
a with Jews aboard. 

V.'s. Kurnn does not remember the tension, 
-is an adventure as far as I was concenwd.” 

I ET in New York by rdaiives, the fam- 
ily settled in Forest Hills, New York. 
Mrs. Kunin’s Swiss background faded 
Ty. Today, her original German is firmly a 
d language, with French a distant third, 
family later moved to Pittsfidd, a small 
-hire Mountains city in westeni Massachu- 
• where she finished high school. 

- s. Knnin graduated from the University of 
- : arfriHp-m, studied journalism at Columbia 
• arity and went to wok as a reporter at The 
- igton (Vermont) Free Press. 

. anam, she said, was one of the few places 
iflie got a general-assignment job that was 
- ra i l ed to society news. 

.ter a year reporting about local school 
; b and city councils, she took a job at a 


local television static®. She met and married Dr. 
Arthur Kanin, a kidney specialist who now 
t e ache s at the University of Vermont Medical 
School 

Meanwhile, her older brother; Edgar, a grad- 
uate of Northwestern University, also had be- 
come a reporter at The Buffalo (New York) 
Evening News, winning a Pulitzer Prize in 1961 
for investigative reporting. He now is a Vermont 
stare senator , 

*T had my first chfld and stopped wodting," 
she said, talking of the 1 960s. “Then, I did a lot 
of volunteer thing s in the community, got a 
master’s degree between children and did some 
free-lance writing. 

“My husband went to Harvard for two years, 
and I did some part-time public-relations work 
at Boston University,” Mis. Kusin said. “But it 
was just bits and pieces." 

And something was missing. 

When her husband got a sabbatical and the 
family spent 1970 in her native Switzerland, she 
found what H was. 

I N 1970, Swiss women still could not vote in 
federal elections or in many cantonal, or 
state, elections. Mrs. Knnin, who bad been 
reading works by Betty Friedan and other femi- 
1 cists, was drawn to the Swiss women-activists, 

1 “1 went to sevoul meetings, and hoe was a 
rhwnffff to relive the suffragist movement, which 
I had always wanted to do anyway,” she said. “I 
got caught up in it, and I thought. These women 
care passionately about there issues, and we 
have taken (hem for granted.* 

“I thought, ‘American women really haven’t 
My taken advantage of the right to vote.’ So 
when I came bade, I was ready to go.” Mrs. 
K nnm said. “A women’s political had 

just started in Burlington, so I got involved with 

that 

“It was ironic, because Switzerland was so 
much more behind, but yet it did m o bi lize me.” 

In 1972, Mrs. Kumn ran as a Democrat in 
Burlington, Vermont's largest city, and won a 
seat in the state legislature. She won two more 
two-year terms, fiifag increasingly important 

^yiinnn ty^lfaqCT MT n posts. 

In 1978 and 1980, she was dected Eemenant 
governor while Richard Sp elling, a Republican, 
was voted governor. 

Mr. SneJHng dedded not to seek a third two- 
year term in 1982, but changed his mind afto- 
Mrs. Knnin announced her candidacy and ap- 
peared to be an easy winner. Instead, Mr. Sndl- 
ing ran and defeated her with 55 percent of the 
vote. 

“If I hadn’t gotten strong support two years 
ago to nm u good race, 1 wouldn t have been in a 
position to run this time,” Mrs. Kunin said of 
the 1982 loss. “Women must be prepared to try 
again and not be discouraged by bang,” 

Last November, Mis. Kunin defeated John J. 
Easton Jr., die Republican state attorney gener- 
al, by just 62 votes more than the 50 percent 
Vermont law requires. 

In the next two years, Mrs. Kunin must deal 
with the S35-miIlian budget deficit Vermont 
faces. 


The budget problems will squeeze her efforts 
to improve education aid and attempts to offer 
incentives to businesses to settle in depressed 
areas of the remote northeastern state, where 66 
percent of the population of 535,000 live outside 
urban areas. 

Mrs. Kunin also must seek solutions to the 
sharp new disputes breaking out between Ver- 
mont’s staunch conservationist movement and 
vacation-resort owners pressing for huge new 
expansion of their slri and year-round recreation 
facilities. 

ALTHOUGH these are severe problems, 

/_% Mrs. Kunin takes office in exceptional 
-L A, circumstances. For the first time in state 
history, the Vermont Senate is in Democratic 
hands, and as if to prove the state’s national 
reputation for civilized, yet topsy-turvy political 
independence, the Republican-controlled lower 
house has dected a Democrat as speaker. 

■ In her inaugural address. Mm. Kumn paid 
tribute to the underdog, and to the women’s 
movement 

“1 recognize that 1 was able to raise my right 
hand before you this afternoon only because so 
many women had raised their voices long before 
my words woe spoken.” she said. 

America’s “limitless dream.” she told her au- 
dience in the diminutive sta rehouse, “must con- 
tinue to beckon to the next generation.” Ver- 
mont residents should reject “the harsh theoiy 
of survival of the fittest” she said. “Our task is 
to be both prudent and humane. We cannot 
accept the status qua” 

Speaking privately earlier, Mrs. Kunin said, 
“Governors have had to deal with difficult fi- 
nancial times and have really not been able to 
avoid those tough decisions. As a woman, there 
are no simple solutions or simple answers.” 

“It’s not a question of getting the right media 
expert or the right slogan, or any of those 
things,” Mrs. Kunin continued. “If my race 
proves anything, h is that experience means a 
lot and that you have to bufld up strong credi- 
bility as a candidate based on everything else, 
not just being a woman. Based on your stand cm 
the issues, on your ability to do the job. 

“I think you do have a special hurdle to 
overcome,” the governor said. “Sometimes I 
think the whole point of a woman running for 
high office, when that hasn’t been achieved 
before, is to get people to really look at you for 
who you are and to put the whole gen do- ques- 
tion aside. 

That's easier said than done, because it 
doesn’t really work that way. But that’s what 
you want to achieve. In a sense, I flunk that’s 
what I achieved,” she continued, “that I could 
get people to focus on my qualifications and the 
issues, and that dnhhrisnes flw obstacle of gen- 
der. 

The hurdle is mostly there because of lack of 
precedent I don’t think it’s in and of itself a 
bias. I think it’s a bias because nobody’s used to 
the idea,” Mrs. Knnin said. 

“Fifty years from now, it’ll be less of a novel- 
ty-" 


By Michael Getler 

Wasktngum Pot: Senice 

I ONDON — Can Britain become what 
Prime Minister Margaret Thatcher warns 
* it lo be: an American-style “free enter- 
prise. entrepreneurial culture” that booms along 
under the banner of self-reliance, creating new 
jobs and a strong economy? 

Or is this nation, so civilized and tolerant in 
so many ways, still too immersed in d ass-con- 
sciousness, socialized services and a more re- 
laxed attitude toward work, education and prof- 
it to transform itself? Does it, down deep! even 
want to change? 

Mrs. Thatcher says Britain can and must 
change if it is to break the grip of relative 
economic decline that has hampered the coun- 
try sahee World War IL She has staked much of 
her political reputation on such a transforma- 
tion. 

“We had it,” she said of the spiiii of enter- 
prise in this country, where the Industrial Revo- 
lution was bom two centuries ago. “and ws are 
trying to regain it." 

But Ralf Dafarendotf, who stented down last 
faD after 10 years as director of the London 
School of Economics, says Britain has not had 
that spirit since the 1890s. 

“It is totally 3hsurd to try to change a society 
1 80 degrees,” he said “The point about Ronald 
Reagan’s success is that he is reviving tradition- 
al American values and virtues. Mrs. Thatcher is 
trying to do just the opposite: fight all the 
traditional English values and virtues and, in my 
view, she is doomed to failure. 

“Britain is a society of many solidarities,” the 
German-boro economist continued, “totally 
averse to the spirit of competition between indi- 
viduals. If you try to set one against the other, 
you get nowhere in Britain. America is exactly 
the opposite. There is a great tradition of trying 
to get somewhere on your own. In Britain you 
always pretend you are not trying.” 

Between the views of Mrs. Thatcher and Mr. 
Dahrendorf lie the views of a many British 
academics, economists and managers, who were 
interviewed recently, and the conclusions of 
some recent international surveys. 

Those views suggest that while Mrs. Thatcher 
may be pushing Britain toward a more dynamic 



.m 





Th» Aaooousd 

Margaret Thatcher Britons had the 

spirit, “and we are trying to regain it.” 

led the world in market penetration.” the report 
said. 

The survey of 1,100 business leaders and 
economic specialists in the 28 countries said that 
London's financial center was booming and 
dynamic, along with North Sea oil and expand- 
ing service industries. 

But “there are grave doubts whether these 
strengths will be enough to offset very deep- 
seated structural problems,” the management 
forum report says. The country faces “a major 
competitive shortcoming'' in iis failure to train 
enough skilled workers and “Britain’s virtual 
specialization in low-value products will put it 
more and more into competition with with low- 
wage. but increasingly productive, Third World 
countries.” 

A mid-1983 report by the U^. -based Aspen 
Institute for Humanistic Studies on work haDits 
in several industrialized countries found Britain 


♦ 


The point about Ronald Reagan’s success is that he is reviving 
traditional American values and virtues. Mrs. Thatcher is 
trying to do just the opposite: tight all the traditional English 
values and virtues. 9 


economy, sbe could be overwhelmed by cultural 
obstacles, her policies of tight money, and even 
her personality, spawning divisiveness rather 
than consensus. 

There is also little optimism that any major 
deni will be made in Britain’s record 13 percent 
unemployment. 

An oil conroany executive said Mrs. Thatcher 
more likely to fafl than to succeed. But the 
country win be better off even if she doesn’t 
bring it afl off.” 

B RITAIN under Mrs. Thatcher is now in 
its fourth year of modest economic 
growth, holding its own among its West 
European allies but lagging behind the United 
States and Japan. 

Inflation has been reduced to a steady 5 

profits are all np. Huge nationalized industries 
have been sola to tbe private sector. A 3.6 
percent growth rate for 1985 was recently fore- 
cast by the London Business School, and Mis. 
Thatcher’s success in facing down Britain’s 
powerful coal miners in their strike may smooth 
industrial relations in the furore. 

John Cassels, director of the National Eco- 
nomic Development Office, also points oat that 
the number of sdf -employed people has grown 
by nearly 500.000 in the last five years and the 
total number of companies by 8 percent, most of 

ihgm small 

And Britain has a core of top-rated interna- 
tional companies, such as Courtaulds textiles. 
Imperial Chemical Industries, British Petroleum 
and the Jaguar auto company, that are led by 
highly regarded managers. 

But there remains a troubling undercurrent 
that can shatter Mrs. Thatcher's hopes. 

A major report last month era international 
competitiveness by the European Management 
Forum, an independent, Geneva-based founda- 
tion, places Britain in 14th place in a survey of 
the 22 Western industrialized member natio ns 
of the Organization for Economic Cooperation 
and Development and six developing countries. 

Tbe halfway mark among 28 nations is a 
signifi cant efimbdown for a country that trace 


scored the lowest. “The will to work and to do 
well in one’s work is lowest there,” tbe report 
said, “and dissatisfaction with working condi- 
tions tbe highest.” 

Although Mrs. Thatcher cites gains in worker 
productivity, the European Management Fo- 
rum report says Britain’s is tbe lowest of all 
industrialized countries and that the higher fig- 
ures reflect either increased unemployment or 
shorter hours. “A British manufacturing worker 
adds only one third of tbe value to production 
achieved by his U.S. colleague and little more 
than half that of his German mate,” the report 
says. 

Britain’s economy is growing and the country 
has a surplus in its balance of international 
trade. But the management forum report and a 
new OECD report on Britain —and numerous 
other specialists — point out that the income 
from North Sea oil obscures the fact that, begin- 
ning in 1983, Britain's manufacturing trade 
dipped into deficit for the first time and has 
remained there. 

Britain is now the world's fifth largest oil 
producer. And while Mrs. Thatcher points out 
that the oil contributes only 6 percent of Brit- 
ain’s total output of goods and services, the 
gross national product, it produces 10 percent of 
government revenue and 20 percent of exports. 

The oil money is “the aspirin that prevents 
the pain from getting through,” said an econo- 
mist. It obscures, he said, the real measures of 
competitiveness and tbe devastating loss of tra- 
ditional manufacturing, especially in the north 
of Britain. 

But Mr. Cassels, of the development office, 
said the oil “gives us more time to change and 
adjust” 

“As we succeed,” he said, it win change peo- 
ple’s perceptions of where responsibility lies for 
malting things happen.” 

E DWARD Heath, a fanner Conservative 
prime minister, described Mrs. Thatch- 
er’s monetary polities as “the kitchen 
sink economics of the housewife” that will never 
produce enough growth to cut deeply into the 
country’s unemployment problem. 


Ralf Dahrendorf: Fighting die tradi- 
tional virtues is “doomed to failure. 1 ” . 

An American management expert in London 
called it a “penny-pinching budget balancing" 
rather than ad investment strategy and said it 
“won’t stimulate the country or a major resur- 
gence." 

While "Thatcher is a step in the right direc- 
tion." be said, “there is still a tackiness that the 
British attach to monetary matters and profits 
and that leads to a lack of aggression in the 
mentality to create wealth. Growth of only the 
service industry here means they are only talk- 
ing about Am growth of lousv jobs. 

“Britain has got to decide who it wants to be” 
he continued. “It's got to stimulate research and 
development, not restrict it. They' are enormous- 
ly short of trained people.” 

Mrs. Thatcher, he said, “thinks she can nick-: 
el-and-dime and talk her way into a really com- 
petitive society. It’s Reaganism without the 
American dynamism or budget deficit.” 1 
John Stopfer d. professor of international 
business at the London B usiness School, saiij 
that “Britain has a long way to go in under- 
standing that education for supporting a 
wealth-producing society" needs to be encour- 
aged, as well as traditional support for pure 
scholarship. » 

It is a point widely agreed upon. “It is fasci- 
nating,” Mr. Dahrendorf added, “that Britain 
continues to be very strong at the frontiers 
because they love the eccentric,” the person who 
goes on to win the Nobel Prize. ”But they’ve 
never translated that into production.” ' 

Mr. Cassels criticized “this emphasis on the 
needs of a minority of more able pupils and 
relative indifference to the majority” and said 
that Japan, the United States and West Germa- 
ny all oul-perform Britain “in the vigor and 
depth of their commitment to co ntinuing train- 
ing and education.” 

The development of advanced management 
and business schools here, he added, has also 
settled down after a burst of enthusiasm several 
years agp. There is something rather British 
about this approach: indifference; tbe dash for a 
quick fix; the inevitable disappointment; the 
relapse into indifference.” 

Sir Michael Edwardes. the South African- 
born chairman of Britain’s Dunlop rubber com- 
pany, told Chief Executive magazine, “There’s a 
lot of management talent in this country.” but 
“there’s more cowardice around today than in 
the 18 years I’ve been in Britain. The British 
attitude is that the most terrible thing is to make 
a mistake.” That, he said, reduces the risk- 
taking environment upon which competitive- 
ness rests. 

Mr. Stopford said “complacency is enemy 
number one in this country.” Mr. Dahrendorf 
said it is a combination of unwillingness to take 
risks in combination with a failure to sustain 
newly started small companies so they can grow’ 
to medium size and compete. 

There is some support for this in an otherwise 
optimistic new report called “The Cambridge 
Phenomenon,” which describes the extraordi- 
nary mushrooming, much like areas in the Unit- 
ed States, of 322 high-technology firms in the 
region around Cambridge University. 

“It represents one of the very few spontane- 
ous growth centers in a national economy that 
has bem depressed for all of a decade, and 
certainly the only one where growth is bring led 
by high-technology industry, the report said. 

But it also says that many of these companies 
intentionally remain quite small and that “it 
seems to be a particular American skill to be 
able to mobilize all the requisite resources to 
grow a new-technology enterprise into an enor- 
mous. fully integrated company in a short 
time.” 


iaby Who Symbolized New Brazil Dies 

i Short life Illustrated Problems Facedby the Democratic Government 


By Juan de Onis 

Los Angela Times Serrkt 

| IO DE JANEIRO — The first baby 

w i - n n ■ u-H-J m 


urn » 


laauy adopted by the preaaem-eieci, 

^^rtdo Neves, and- named in his honor — 
other day. 

W.TIIM 1 * ctreumstances of the death of Tancre- 
11 ** I ' as the chfld was r olle d, illustrated the 

vi of human problems Brazil faces as it 




jar?*"" • 


> 

~:- 7 .*.» • 


fljKi of human problems Brazil faces as it 
, ns to democracy. The child died of pneu- 
: a and dehydration two months and five 
' ‘ after his birth. 

. ray of the children bom in Brazil's shims 
. • rural backlands live only a short time. In 
. ■ impoverished areas, such as the noxtheast- 

- - tales of Ceart and Piaui, i nfa nt mortality in 

- irst year exceeds 120 per 1,000 births. Nu- 
•: . nal deficient, leading to gastrointestinal 

pulmonary disease, is the m 8 "* cause of 

-ncredinho’s chances for survival seemed 
*,f than average. Bom in a Rio de Janeiro 
ital early on New Year’s Day, Tancredo 
ano Lima dos Santos was singled out by the 
... '.-dent-elect in a symbolic, godfather-style 
" that is traditional in Brazil among poHti- 

k like Mr. Neves, who are from rural areas. 
r Neves has be en prevented from 

‘ " V* $ the oath of offks —which was scheduled 


for March 15 — because or two intestinal opera- 
tions. 

It was when Mr. Neves’s wife. Rise! eta, was 
pictured cradling the baby in her arms that 
Tancredinho was described try (he Brazilian 
media as a “symbol of the birth of the new 
republic.” 

Me. Neves, 75, has said that his first priority 
after inauguration will be an emergency pro- 
gram to provide jobs and food for the lowest 
strata of Brazilian sodety.-whae even those who 
can find jobs are paid a minimum wage of less 
than $40 a month. 

Mr. Neve&has said that Ms No. 2 priority will 
be to reduce inflation, which raiseaprices 225 
percent during the last 12 months. The poorest 
have been hardest hit because food and rent 
have led the price increases. 

B UT Tancredinho did not live to see tbe 
“new republic” despite the unusual ad 1 
vantages proffered by his benefactor. 
The baby’s farner, Fraudsco Ribeiro dos San- 
tos, 31, is a manual laborer for the city, which 
pay? the TmirmtinVm 'c mother, 

Terezinha Pereira de Lima, 26, has two other 
children. The parents migrated to Rio from the 
northeastern slate of Parmba and live in a wood- 
en shade on a hillside behind the luxurious 
waterfront apartment houses of Copacabana 
Beach. 

The mother did not have enough muk to 
nurse the new baby, but Mr. Neves’s office saw 


to ii that she was provided with powdered millc, 
prepared baby food and clothing for the infant 
Three weeks ago, rainstorms swept Rio de 
Janeiro, producing floods, mud slides that killed 
20 people in the slums and misery in the shanty- 
towns where 800,000 people Eve. 

Tancredinho came down with a cold. He was 
treated by his mother with medicine provided 
by a local pharmacist but was not examined by a 
doctor, according to Carmen Burie, the execu- 
tive secretary at Mr. Neves’s office. 

The mother then decided to take her two 
older children back to Parafba and leave them 
with her parents. The cost of Irving in Rio de 
Janeiro was too high to keep the family fed, she 
said. 


2POR1 

Subscribe to the IHT at special introductory rates fbrnaw 
subscribers and save almost 50% off the newsstand price in most 
European countries. 

Twice as much news for your money. 


Hcralh^E£ribunc 

W il Lndn» Vow 

Ig gSjgr Ewmoit He 


SBiipl 


—Ml Lndra> Vo- lo Pbi 
ra Eiwoir X m >in 

mwm 




R ATHER than take the rick baby on tbe 
1 ,200-mile (2,000-kilomeicr) bus trip, 
she asked that Tancredinho beplaced in 
a nursery run by a foundation for child educa 2 
tion. 

“With the assistance erf the president-elect, he 
was admitted like an honored guest,” Mr. Ne- 
ves’s secretary said. “He had a case of the 
mifflw but the mother didn’t tell us that he had 
been sick for a week.*! 

By the second day, Tancredinho was bring 
given an oral serum lor dehydration, then anti- 
biotics for pneumonia. A week ago. be died. 

Sebastian Nasrixnenta, who runs the founda- 
tion, remarked, “I hope Tancredinho’s death 
serves to light the way for President-elect Tan- 
credo Neves and the new republic.” 


lb: Subscription Manager; int ernational Herald Tribune, 181, av. Chailes-d e-Gaulle, 92521 Neuflly Cedex, 
France. TteL: 74Z0Z29. Tlx: 612832. Yes, I would like to accept your bargain offer Please send me the 

FteMwcarcto bekwriheredtcad mfasciqaticii International Herald Tiibune for fee time period and at the reduced 

pnceseleoiKl RviBwaubecotaoscmly' mice Circled OH ffris c ' MTp nn. 

(Eares valid through April 30, 19SS..1 1 

Gtmm Canoncrt l year! 9mos.| 3mas. rf=^=r, □ M, ^ymeilt IS enclosed (check (3 

Anana A. Sch. &22Q 1.810 890 fl _ , money order to The UTI0 

Betonnn an, 7,300 assn z,oop fl Hease charge my: 

FW s l-- as l rvfll H I □ Access DEurocard 

□ American Express D Mastercard 

i rr — r 3 i rmt et &\- ~ i i. □ Diners Club □ Visa 

Greece Dl 12.400 61200 3,450 A 'g 

Ireland io4 52 29 ' n f Card account number 


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nil. 

FJd 

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OM 

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£. M. 

1.500 

1.120 

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12.400 

104 

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308 

280 

115 

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56.000 

Luxembourg 

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2.000 

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FL 

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Z25 

124 

Norway 

NEl 

1.160 

580 

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Spam 

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UK 

102 

Ibexes of Europe, Nonli Africa, fanner Flench 

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A sie: I $1 3fle| 196 1 IDS 


27 - 3-85 


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IS 558S5 IS IHKSGgHHHtf K> 1VIKK l«" I 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


NYSE Most Actives 


Dow Jones Averages 


NYSE index 


VM. KM Law Last On 


20362 48 % 
16842 AM 
14044 125 % 
1 ZP 6 zm 
I 'OB <W 
SB 60 34 % 

858 T 50 % 

8304 16 % 
7736 64 
7245 JBi 
7070 31 b 
7012 6% 

6 S 54 XV. 
6854 TIM 
6052 47 * 


47 -1b 

50b — 1 % 

KZft + * 

zm +w 

43b +1 

34 * — * 

wv. + % 

15* 

63 b + % 
37 

am +iva 
6% + % 
XU. + % 
30b — IVh 
42* — H 


Indus 1257.07 1247-56 12 SL 10 TO8J2— 052 

Trans snar sttaz wa 5 »S 66 + 266 

Uin 140-31 151 XH 14065 UOM + US 

Comp 50054 SOX 904.19 51025 + 207 


Composite 

Industrie* 

Trots*. 

Utilities 

Rrvone* 


■ Hteh lot On cnw 
1(047 10302 1020 +021 
110.53 11037 17047 +023 
9042 9623 94 J 4 — 013 
5429 5407 5424 + 024 
10654 10457 10*50 + 0-15 


Dow Jones Bond Averages 


Bonds 

Utilities 

industrials 


CtaS* ( 31*08 

7220 +009 

6965 +020 

7553 —003 



Odd-Lot Trading In N.Y. 


Bay lutes 

March 25 114631 49004 Hit 

March H 190682 467274 0014 

March 21 200.105 456206 0768 

March 20 319,116 4 WJ 19 645 

March 19 21X862 SI 1257 14605 

‘Included In the sales flours 





NASDAQ index 


dan 

Pm. 

222 

216 

m 

Ml 

2*3 

330 

* 7*5 

786 

» 

n 

18 

11 

2ALS50 

m ' L56W05 



AMEX Most AcWvot 


VW. HM in Lot 


cmm cut* *m An 

276.18 —ON me 34018 
aw?— an 39000 am 




33089 + 143 32040 S 25 . 1 J 
75791 —057 %!-£ * 94 ; 
33024 +O4; 2 S 1 J 7 20030 
3504 * + 9-43 MU 22983 


Standard & Poor's Index 


AMEX Sales 


ToW« indutfe the nationwide prices 
up to fbe dosing on Woll Street and 
do not roftect late trades etsewhere. 
Via The As so cia t ed Press 


ind u strials 

Tmn 

UIBlH 


HUB LOT OOM OCM 
19947 M 09 B 199.13 + 053 
15345 151-31 15 T 43 — 006 
7951 7 M 2 7844 +017 
905 } 3041 SUV +086 
12884 : 177 JB 17143 +046 




Pm. 4 pjvl wriuflte 


Prev. con*, valiim 

7 JSUH 0 


AMEX Stock Index 






3m 



320 54 W 
225 103 
140 14 16 
86 33 13 
44 24 15 
220 54 11 
280 1TJ 
380 64 
1325 1 X 7 
220 118 
6469212 

12 

120 32 12 
8 US 
IPw X 26 ol 06 8 
Exp 128 38 15 


th rt 




44 b 24 12 
180 34 9 


t 


Dow Slips as Stocks Are Mixed 


The Atsodated Pros 


•vJ 


NEW YORK — The stock market was mixed 
Tuesday, holding its ground despite a string of 
earnings disappointments at several major com- 
panies. 

Analysts said declining interest rates in the 
credit markets helped support stock prices. 

The Dow Jones average of 30 industrials, 
down 7.51 on Monday, slipped another 32 to 
1,259.72. But most otter, broader market indi- 
cators finished with going 

Volume an the New York Stock Exchange 
stepped up a bit to 89-93 million shares from 
Monday’s 12-week low of 74.04 million. 

The daily tally on the Big Board showed 
about eight issues rising in price for every seven 
that declined 

The exchange's composite index picked up 
33 to 10328. 

Concern over the profit outlook began to 
spread on Wan Street after International Busi- 
ness Machines Corp. said lare last week that its 
first-quarter eammg s would come in below 
comparable year-ago levels. 

Late Monday General Electric said its first- 
quarter profits would faU short of expectations. 

T hen, Tuesday motmn& Minnesota Mining 
& Manufacturing lowered its quarterly earnings 
projection as wdL 

AD three companies have wide following on 
Wall Street, and are components of the Dow 
Jones industrial average. 

Analysts said their estimates intensified in- 
vestors' concern over evidence of slower-than- 
expected growth in the economy. 

One problem for many companies, including 


large multinationals, has been the lofty level of 
the dollar in foreign «rh;mgp 

It has damp ened demand for UR-made 
goods abroad and subjected domestic sales to 
increased competition from imports. 

However, analysts also said a slowing econo- 
my could have some beneficial effects over the 
long term, by taking some pressure off interest 
rates and the dollar. 

Rates on short-term Treasury bills dropped 
about 5 basis paints, or hundredths of a per- 
centage point. 

Prices of long-term government bonds, which 
move in the opposite direction from interest 
rates, rose about $5 for every 51,000 in face 
value. 


17% CiotcIi uo u 
Stek End*! 434*114 

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307 k SO 301 k + Vk 



On the market floor, IBM shares, which fell 
3W points Monday, recovered % to 125%. 

But GE, which also was indicted on charges 
of making false daims of labor costs on govern- 
ment contract work, dropped 1% to 59%, and 
3M was down 2Mi at 81%. 

G.D. Searle fell 1% to 47 and led the active 
list on volume Of more than 2 mill inn shares. 

Searle tumbled S points Monday as the com- 
pany, which had been studying a posable sale 
of some or all of its businesses, said it decided to 
continue operating in its present independent 
form. 


Nationwide turnover in NYSE-listed issues, 
including trades in those stocks on regional 
exchanges and in the over-the-counter marke t, 
totaled 107.04 million shares. 

Standard & Poor’s index of 400 industrials 
rose .53 to 199.13, and SAP’s 500-stock compos- 
ite index was up .46 at 178.43. 


SC 


12 Month 
High Low Stock 


Sfe. Close 1 12 Month 

Dfv. YMLPE WOsHlati LowQuoLQi'Be 1 High Low Stott 


Dhf, YM, PE lOOsHktl LmrQuaf. CHoe 


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39% 32% 
18% 13 
34% 19 
29% 25% 
28% 29% 
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71 400 n 30% 31 

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15 54 14% 14% 1414— % 

4 10% 10% W%— % 

S 4% 4% 43*— % 

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7 11 19% 18% 19% + 96 

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\y£‘& ly> 


SPECIAL ADVERTISING SUPPLEMENT TO THE INTERNATIONAL HERALD TRIBUNE, WEDNESDAY. MARCH 27, 1985 


Page 9 




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Ecoijonjic Developrpepts 

ip Cl^ipa 




/EAR OF THE OX - China 
loosens the Reins and 
gets down to Business 

T HIS is the first month in the Chinese Year of the Ox, a good year in 
the Asian cosmology. It’s symbol recalls the slow, steady progress 
that can be achieved bv working easv in harness. All the ernnnmir 


T HIS is the first month in the Chinese Year of the Ox, a good year in 
the Asian cosmology. IPs symbol recalls the slow, steady progress 
that can be achieved by working easy in harness. All the economic 
adicators look good for business: China’s forex reserves grew from US$2 
•illion at the end of 1980 to US$16.5 billion by mid-1984. It has substantial 
.old reserves reported to be 12 million ounces, and, a debt-service ratio so 
uw that it has Western bankers pounding the pavements in Beijing looking 
or loan prospects. Though no one can seem to agree on final figures, due to 
inferences in methods of calculation, all sources do agree that 1984 was a 
tanner year for China trade with the West. China has enjoyed bumper 
larvests for several years, there is no hunger. Finally, to the delight of 
Western exporters and investors, China needs more and better of just about 
everything if it is to succeed at modernizing its economy in the life tim e of 
uoyone now alive. 


Everyone is flush with the 
uccess of reforms since 1979, 
■ fhen Deng Xiaoping rook the 
eins of power in hand, 
’.dative figures show 
“taggering progress: "Living 
tandards of peasants”, 
ccording to Zhao Weichen, 
'ice Minister of the State 
‘ Economic Commission in the 
anuary issue of PRC 
yuanerh, “have risen 
emarkably. In the previous 
ive years (1979-1984) their 
.verage per-capita income 
ose 150%.” He notes that 
igriculrural output went up 
4.8% annually, and 40 of 100 
□ajar products in the 
government's registry of light 
rod heavy industries were two 
Tears ahead of their output 
goals under the Sixth 
Five-Year Plan (1981-1985). 

Deng Xiaoping and his 
upporters have taken the 
xisition that a guided socialist 
conomy works better, at 
•east for China, than a rigidly 
: onirolled one on the Soviet 
nodel. The keynote of this 
iew approach is contained in 
he term, "songbang" which 
oughly translates to “loosen- 
ng the reins” - in this case 
neaning the devolution of de- 
li&ion-making powers from 


must implement systems 
based on merit and 
productivity has been yoked 
to a heroic task: He must 
make thing s .work. The 
government wants wages 
adjusted for the difficulty and 
importance of the work. 
Factories can now adjust their 


over the period of the seventh 
plan. 

Who are these agents of 
change? Of the nearly two 
milli on managers now 
employed in the state’s 

financial and comm ercial 

sector, fewer than four per 
cent bold university degrees. 





fell 


>• •£ 1§N 


Aerial view ofZkuhai city near the Special Economic Zone. 



he center of government to 

5t... : r 

esponsible field commanders 


n local governments and bus- 


ness enterprises. 


China's leadership has 

¥■4 i— ... 

■cached a natural terminus: 


1985 is the last chance to 

• j • ■ 

ichieve many incomplete 


;oals of the Sixth Five Year 


- Plan and the rime to sow the 

'4 

ground for the Seventh, 

■~ T 

■which begins in 19S6. 

•filter 

The factory manager who 

* .. ;• 



own prices within set ranges, 
they can trade with other 
provinces and can set up their 
own joint ventures with 
foreign partners for export 
products. They can compete 
in the bidding among all other 
local authorities for central 
state money to underwrite 
major projects in the next five 
year plan. Song Ping, the 
Slate Planning Minister, told 
New China News Agency late 
last year that he had already 
received requests for funding 
of 3,000 such local projects 


. Photo: Xinhua News Agency 

Government spokesmen have 
been reported as saying that 
half the leaders of state-run 
enterprises in China* - which 
means virtually all enterprises 
- have less than a junior high 
school education. 

In the north, the National 
Center for Science and 
Technology at Dalian was 
recently characterized as the 
"Harvard Business School of 
China” by Newsweek 
magazine, courtesy ofM.B.A. 
courses being run by the State 
University of New York in 


The Great Leap 
Crosswise - An 
Everbright Year in China 


1 00/1 was the fa* 1 fan year of operation for 
1/O^t Everbright Industrial Company in Hong 
Kong, a company formed "to do something 
horizontal** that will nudge more investment openings 
into the rooms behind China’s "open doors** says Fang 
Zhengping, its public relations manager. Everbright* s 
Chai rman , Wang Guang Ying, and about a third of rite 
■ 75 corporate staff members here came down from 
Beijing where the company was conceived. Another 
175 staff members run four offices in China. 


What does Mr. Fang mean 
by horizontal? Basically, 
Everbright seems designed to 
jump into the economic 
valleys between formal goals 
of government trading and 
financing bureaucracies. For 
instance, three organizations 
. in Hong Kong - China 
Merchants Steam Navigation 
Company, China Resources 
and Bank of China - represent 
Fang's idea of “vertical” 
organs for implementing state 
economic policy. Another 
such organization is the China 
National Technical Import & 
Export Corporation, which 
takes invitations for bids and 
mostly handles projects in the 
central government’s “five- 
year plans". 

"Everbright projects would 
normally take several years to 
develop,” notes Fang. Ever- 


b right’s job is to package 
small interest loans with for- 
eign banks, package deals 
with provincial and municipal 
authorities who now have 
some discretionary budgets 
and project authority, and in 
general create a great leap 
crosswise b e tw een levels of 
authority, finance and project 
scope. 

"Everbright is not exactly a 
trading company. We call it a 
comprehensive company,” 
Fang says. He describes their 
major business lines as that of 
buying agents to import 
technology and equipment 
(including second hand), 
regional investment and 
development projects in 
China, and real estate in Hong 
Kong - which so for includes 
the Admiralty II office towers 
extension in Central Hong 


Kong and a project in Yuen 
Long, on Kowloon peninsula. 

They also maintain offices 
in mainland cities via a 
separate corporate entity, 
Beijing Everbright Industrial 
Company, with offices in 
Wuhan, Guangdong, Tianjin 
and the capital. Early this 
year, the Beijing affiliate 
signed a 4-way venture 
contract with Burroughs 
Corporation in Yunnan 
province which calls for 
assembly, distribution and 
maintenance of small b usin e ss 
computers. Press reports put 
its value at over US$20 
million. 

“In the past year we have 
already be en in contact with 
over 1,000 companies world- 
wide,” asserts Fang. Al- 
though Everbright suffered 
something of a black eye 
when it recreated from a large 
Hong Kong property deal last 
year, its fast lane development 
efforts are still impressive. 
Chairman Wang Guang Ying 
first came to Hong Kong in 
April 1983. By August, he’d 
formed Everbright. 

“We have had a ninefold 
increase in contracts signed 
over 1983,” says Fang, "with 


Buffalo. The three-year 
program ends with a final year 
of study in the United States 
and has already produced a 
breed of “best and brightest” 
manag ers in high government 
postings. 

In the south, Guangdong's 
equivalent of a provincial 
personnel bureau has signed 
an agreement with the 
International Institute of 
Education, a U.S. non-profit 
university counselling service 
with offices in Hong Kong 
and other Asian cities, to 
assist in English-language 
testing for job placements, 
counselling for applicants to 
Americas universities and the 
supply of educational 
equipment. Jay Henderson, 
Asian director of HE, claims 
they have also been asked to 
provide high-level American 

finanHal and econo mic 

experts to assist Beijing’s 
central government planners 
in better understanding of 
Western business practices. 
The problem so far, according 
to Henderson, is that no one 
is yet willing to fund such an 
exercise. 

Foreign businessmen at 
first rejoiced in the hope 
provincial authorities, with 
wider discretionary powers 
would bypass much of the 
top-heavy Beijing bureauc- 
racy. It has often proven true. 
For instance, a Citibank in- 
troduction to China invest- 
ment notes that in 1983 alone, 
105 new joint equity ventures 
were established, ad ding 
greatly to fire 83 that had been 
established over the previous 
five years. Foreign invest- 
ments in these ventures are in 
excess of US$200 million and 
68 of them are located in the 
four Special Economic Zones. 
There were also 200 new 
co-production projects con- 
tracted, valued at US$180 
million. 

Successes are offset by 
stories of businessmen 
accustomed to computer 
technology and the niceties of 
ton law reduced to giving 
elementary lectures in the 
concept of “cash Dow” in a 
frantic effort to seal a 
contract. The hard fact is that 
direct foreign investment in 
China has not been large. It 
has been estimated at about 
US$3.3 billion over the last 
five years with a large 
percentage of that from Hong 
Kong - and much of it in 
pledges of intent drat may 
never materialize.. 

Neither Chinese govern- 
ment leaders nor foreign bus- 
inessmen are happy about it. 


370 contracts signed in the 
last year, we have averaged 
about one contract per day.” 
He puts their total value at 
about. US$$391 million. 
Given that 1984 was the 
company’s first full year of 
operation, Everbright was 
certainly in overdrive, even if 
China’s general “open door” 
contract progress seemed 
stuck in low gear. 

By way of an annual report. 
Fang Zhengping sketched the 
following profile of Ever- 
brighr’s major involvements 
in 1984, broken down by six 
regional development pro- 
jects, (Total Value US$410 
million), 1 1 investment or 
joint venture projects (total 
value US$110 million), and 10 
cooperative agreements with 
provincial or municipal 
authorities on power plant 
projects. Fang says they are 
working on same of these pro- 
jects with Kumagai, who built 
the first Hong Kong Cross | 
Harbour Tunnel and Mass 
Transit Railway and Kajima, 
which has a reputation for 
quality highrise building con- 
struction. 

Noteworthy is the Zhuhal 
(SEZ) land reclamation of 170 
sq/km (200,000 Chinese mu) 
work, underway and expected 
to have 20,000 mu reclaimed 
by early march. End 1985 
goal is 60,000 mu. Sea depths 
vary and the deeper parts will 
be turned to ponds for fish 
and shrimp forms. 

This project is at 
Continued ooedeef 


which is why the 14 open 
coastal dries and Hainan 
Island were added to those 
areas designed to lure invest- 
ors late last year- Already this 
year, creation of three sperial 
Delta Economic Zones has 
been announced - those of the 
Pearl, Yangtzi and Minnan 
Rivers in Guangdong, Jiangsu 
and south Fujian provinces 
respectively. That makes 21 
official zones, but does not 
count the special status of cer- 
tain hinterland dries like 
Wuhan, Chongqing and 
Shenyang. 

A recent article in the 
Beijing Review quoted an 
address by Vice-Premier Li 
Peng at a national port 
conference in Beijing to the 
effect that, "China had 
opened 99 foreign trade ports 
by the end of last year 
(1984).” And that, he said, 
was in addition to all the other 
zones, ports, dries and deltas 
already noted. The numerol- 
ogy of China’s “open doors” 
is approaching the complexity 
of interpreting the future 
from the I-Chmg hexagrams. 

Many Western business- 
people have found more doors 
mean more mar gin for mis- 
understanding and error. 
There is in effect no single 
Chinese organization that can, 
after a certain point, give a 
flexible trade agreement a 
clean bill of health. That's a 
problem new laws now being 
promulgated are designed to 
overcome by making it clearer 
to Chinese managers what 
they have the authority to act- 
ually decide in a joint venture 
negotiation. Meanwhile, 
traders must cope with the 
verities of an atomized decis- 
ion-making process in a cen- 



tralized economy. 

China’s great successes so 
far have been to build a huge 
cash hoard of foreign 
exchange with its export drive 
and to open the world's 
largest untapped consumer 
market to itself, by letting its 
own people keep some of their 
cash and by making things 
those people want to buy with 
their new found wealth - 
especially color televisions, 
refrigerators, electronic gad- 
gets and stylish clothes. Ac- 
cording to a report cm China's 
investment goals for the up- 
coming Seventh Five Year 
Plan 0986-1990) in China 
Briefing, published by the 
Area Office China of the 
Hongkong Bank, “Ending 
years of suspense - and, ap- 
parently, internal debate - the 


State Economic Commission 
said that China will spend 
US$14.2 billion of its hard 
currency reserves to purchase 
4,820 pieces of advanced tech- 
nology between 1985 and 
1987.” 

Having made the most of 
trade surpluses, tourism 
earnings and overseas 
remittances, China plans to 
put its money to work in an 
effort to . upgrade the 
technology of existing 
enterprises. According to the 
Bank report, this was a 
contested decision: “The 
conservatives or forces 
hoarders within the govern- 
ment have argued that the res- 
erves should be held for 
future energy development. 
But it appears that the spend- 
ers have won out and the 


funds will go toward more im- 
mediate needs. 

Including the forex reserves 
spending, China plans to 
invest the equivalent of RMB 
90 billion yuan on upgrading 
its industries in the next three 
years. Compared with the 
total spent on technical 
upgrading in the five years 
from 1979-1983, of RMB 
106.5 billion, this new figure 
represents a huge increase and 
signals a strong new tack in 
China’s economic planning.” 

As a report in the China 
Daily said: “Now the picture 
seems dear. In the next five 
years, China’s investment 
priority is to modernize its 
industrial enterprises.” And 
for Western exporters and 
investors, that means 
business. 


Discover China 





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for Western technology to serve the needs of an 
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Page 10 


SPECIAL ADVERTISING SUPPLEMENT TO THE. INTERNATIONAL HfgRAID TRIBUNE, WEDNESDAY, MARCH 27, 1985 


PA 

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offt 


Guangdong Native 
Produce Exporters 
poised for growth in Pearl 
River Delta Region Plan 


G uangdong’s Governor, Liang Linggang announced early this year 
that a conference in the new Pearl River Delta Open Coast 
Economic Zone will be held this April or May - perhaps modelled on 
the recent 14 open coastal dries symposium held in Hong Kong last winter. 
Conference participants from die mainland will come to Hong Kong with a 
shopping list for an undisclosed number of projects. Plans for opening the 
hinterlands of Guangdong province along the Pearl River put the 
Guangdong Native Produce Branch of the China National Produce and 
Animal By-product Import and Export Corporation at the center of change 
in Chinese trading practices. 


Founded in 1953, the 
Guangdong Native Produce 
Branch comprises various 
areas of activity: with an 
annual income reported to be 
US$30 million. They are: 
Native produce; Sundry 
foodstuffs; Chinese crude 
drugs and parent medicines; 
Forestal products, divided in 
to the making of incense, 
mosquito coils, candles, 
fireworks, firecrackers, etc.; 
bamboo products and wooden 
wares; gold fish; flowers; 
birds; bird cages and 
essences. The corporation 
alsn manufactures small 

metalwares, mainly kitchen 
utensils. China National 
Native Produce and Animal 
By-products is a national- 
ly-run trading company with 
over 20 subsidiaries and. cust- 
omers in over 140 countries. 

While ‘Sailing Boat 1 brand 
gum rosin and ‘Double 
Happiness Brand' candles 
lack the drama of blast 
furnaces flaring in turnkey 
steel mills or the like, they are 
among the thousands of 


heartland products that stand 
to be most dramatically 
affected by the new delta zone 
policies - which specifically 
indicate that enterprises at all 
levels - including private 


rone will concentrate on the 
production of commercial 
crops and animal husbandry, 
and is intended to become a 
key area for food processing. 
This also complements the 



Bamboo Products Hall, Guangzhou Exhibition Center, Autumn 1984. 

Photo: Xinhua News Agency 

traders and peasant house- traditionally strong position 
holds - may be granted indep- of Guangdong’s traders of 
endent export authority. native produce such as dried 
Guangdong’s Governor has fruits, nuts and vegetables; 
already indicated that the new medicated wines, patent 


medicines and Chinese crude 
drugs; and various Chinese 
spices and essential oils. 

Rules for . foreign 
investment are likely to come 
out of the sessions this 
Spring, but at a major Beijing 
conference in January 
Governor Liang sated that 
the opening of the Pearl River 
Delta to foreign investment 
would come in stages, 
beginning with six cities and 
ten counties adjacent to them. 
The six cities are Guangzhou, 
Shenzhen, Zhuhai, Foshan, 
Jiangmen, and Zongshan. 
The ten counties are Panyu, 
Zengcheng, Nanhai, Shunde, 
Xinhui, Kaiping, Taishan, 
Dongguan, Bacon and 
Doumen. Eventually, he was 
reported to have said in a 
Xinhua news dispatch, the 
cities ' of Huizhou and 
Zhaoqing and 14 counties 
adjacent to them will be 
included. 

Though there have been 
few reports on the topic of the 
new delta zones in the 
international media, Hong 
Kong's Chinese-language 
Wen Wei Po waxed ecstatic in 
an early January editorial that 
followed the Beijing 
conference. They described a 
furore urban sprawl along 
both banks of the Pearl River 
delta that resembled Los 
Angeles as a kind of 
megalopolis, with Hong Kong 
as its ‘window’ to the world 
and surrounding himeriand 
market of some 200 million 
people. 

Though, as of early March, 
there was no official word 
from Beijing on the creation 
of the three new delta zones. 
State Councillor Gu Mu, 
China’s open policy spokes- 
men, was reported by Xinh ua 
news agency to have said that 
the whole coast of China will 


Continued, from previous page 


The Great Leap Crosswise 


Modaomen, the second 
largest esruary of the Pearl 
River and long s3ted. “This is 
the biggest project of its kind 
in Chtua ) possibly in all of 
Asia,” asserts Fang Zheng- 
ping. As he desafoes it, nine 
out of every 10 years several 
million mu of farmland are in- 
undated during rainy seasons. 
Dredging the estuary for fill 
will make it navigable for 
Iji shipping anrf offer 
flood plain protection to the 
upper and middle reaches of 
the river delta. Prese n tly the 
project works on a 3V5t year 
completion target. 

A key question, says Fang, 
is whether provincial author- 
ities will find ir worthwhile to 
speed up the work. Local 
people have been reclaiming 
land along the river for cen- 
turies, bat larger equipment 
would considerably speed the 
process. 


Reclaimed land on the 
Zhuhai site is intended for 
growing sugar cane. 
Everbright means to build a 
cane refinery and packaging 
plant for making sugar cubes 
and table bags. Fang says they 
may also build a paper mill to 
use the bagasse of the refinery 
if coal is available as a power 
fuel source. Fruit orchards 
and agricultural farms are also 
planned. 

Everbright also undertakes 
to develop the Beiling 
Industrial Estate in Zhuhai 
(SEZ). Fang claims to have 
already identified about 20 
American investor companies 
for the 4 sq/km estate, which 
is intended for high 
technology-' low pollution app- 
lications. 

Wang Guang Ying is also the 
“honorary chairman” of the 
Nantou oil support service 
corporation in Shenzhen 


l SEZ\ which intends to build 
a 38 sq-km industrial estate 
but has yet to develop the 
plans. 

Fang notes that joint 
venture project structures arc 
either 3-way programs that 
include a mainland authority, 
foreign investor and 
Everbright or 2-way programs 
done directly with mainland 
authorities. 

Among the projects are: 
The Wuhan Brewery set up 
together with AMS Company, 
West Germany. Under the 
brand name Spartan, 50,000 
tonnes a year will be 
produced, part of it for 
export. An insulated glass 
factory' in Shenzhen (SEZ) 
has been arranged in a 3-way 
agreement with Chinese 
partners. The Shouguang taxi 
company in Beijing will be 
supplied with vehicles in a 
2-way agreement with 
Shoudu (Capital) Taxi Co. 

Fang notes that there have 
been no foreign contracts 
signed yet in the 10 
cooperative power plant 


i # 0 " 9 

nin 


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be opened to foreign invest- 
ment. Though he could prov- 
ide no details on investment 
provisions for foreign firms 
interested in the Pearl River 
Delta zone, Guangdong’s 
Deputy Director of the Prov- 
incial Foreign Economic Re- 
lations and Trade Commis- 
sion, Feng Xuebin, told re- 
porters for Hong Kong’s 
Chinese-language newspaper, 
Wen WeiPo that the new zone 
will grant export privileges to 
a broad range of local enter- 
prises including private trad- 
ers and peasant households 
engaged in producing food- 
stuffs for export. He was in 
Hong Kong during a visit of 
the provincial trade commis- 


sion. 


American Express. 
Keeping pace with China’s growth 


Wang Guang Ying - 
Everbright’s 
Ebullient Chairman 


Wang Guang Ying, 65, is China's most prominent capitalist 
abroad. He is chairman of China Everbright Holdings 
Company Limited, China's first privately registered business in 
Hong Kong since the 1949 Revolution. Wang is certainly not 
China’s only capitalist ; but he is the first to act like one. 

From his 39th floor comer office state overlooking Victoria 
Harbour and Kowloon, chairman Wang oversees a staff of 75 
and the fruits of his wheeling and dealing. In a little over a year, 
Wang has managed to get Everbright involved in a variety of 
projects worth an estimated US$900 million. 

China under Deng Xiao-ping decided to industrialise - and 
fast. Old-time capitalists like Wang Guang Ying, who zctis 
called a “ red capitalist" by Premier Zhou En Lai are back in 


vogue. 


Wang is tailor-made for the job of facilitating Easi-West 
business ties. He is also well-connected, having married the sister 
of China’s former head-of-state Liu Shao-qi. Current Premier 
Zhou Ziyang, a confidante of Wang's, helped Everbright get 
established in record time. Beijing also apparently gives the 
young company all its support. 

Since people find the present policies very good, no one wants 
to change them. Certainly the longer Wang Guang l 'tng stays 
in town, the harder it will be for China to look backwards. 


agreements, 

companies .... ^ 

technicians foe the bJlT) 

Toshiba. Hitachi aud^]* 1 
from Japan; GEC and ne: 
from ihc United Kingdom, hi 
. says the Japanese gamps havi 
an advantage due to 
association with the 
Marubeni and Si 
trading companies wi$rj 
market Chinese products 
Japan to raise foreign ex- 
change, and have assurance *’ . 
of government -hk-ked low ' % •• 

terest loons. . ■ " 

Everbright announced it 
plans for power sutxji 
agreements shortly a ht ' • 1 • 

serious winter electric^'" 
shurtages were predicted hj 
October by the weekly Pekin, 

Review. Citing the Minis tr 
of Water Resources am 
Electric Power, “The countr* 
is currently shun of 10 miQuj 
kw of the required electrics 
generating capacity and 4 
billion kilowatt hours c 
electricity,” the report said. 

China is reported to hav 
170 generating plants, wit 
capacities of over 100,000 k* 
and another 4,300 facilitk 
that can turn out at least 50 
kw. The report noted that c 
46 projects given priority b 
Chinese leaders in 1984, 2 
involved production t 
electricity. Earlier reports i 
the China Daily underscore 
the problem. They chime 
that 40 per cent of run 
households had no elect rich 
and most villages are short t 
fuel for at least two mow! 
every year. They als 
estimated that one machin 
out of every five in China : 
idle for lack of power. 

Chinese leaders hav 
decided to invest in nudes 
energy and plans for 10 plani 
have been drafted, thoug 
only two arc included in dr""’ ? _ „ 

sixth five-year plan ( 19SC- H Q ' ' ^5 

1985); one at Daya Bay net*, n - n FdQ© 
Hong Kong and the nths.-bn'lly 




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PrOVl 


at Qinshan in the easier..,,* 'OpCfl DO0f*« 


province of Zhejiang. Tbei* ^ 1 
ambition is to achieve a gene ^ 
ating capacity of 10,000 m**"- 1 
from atomic power by th CJT’! i-’.iiUMfy 
year 2000. 


■m; Mad 


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Guangzhou gets its 
First Fashion Show 
from China National 



-As • China grows, so 
: -grows 1 American Express" 
ro offer you more and 
more services to make 
your travels easier. 

For instance, the American Express Card, the 
world’s most prestigious charge card, is warmly 
welcomed at an ever growing list of fine estab- 
lishments. The Card also puts a host of financial 
services in China at your disposal. 


Travelers Cheques : 

Cardmembers can purchase American Express 
Travelers Cheques at branches of the Bank of 
China in Beijing, Nanjing, Guangzhou, Shanghai, 
Qingdao, Shijiazhuang, Hangzhou and Tianjin. 

American Express can also arrange the refund 
of lost Travelers Cheques. 


Textile 


Emergency Cheque Cashing 

Should you need extra cash while travelling in 
the PRC, just bring your personal cheque and 
the Card to the Bank of China. You’ll find 
branches or sub-branches in most of the 
important cities. Your cheque will be cashed 
on the spot. 


Our Beijing Office is there to help 

If you need any help, advice or information 
you can contact us at Room 1527, Peking 
Hotel, Beijing. Telephone: 553849, or Telex: 
22426 BHCTL CN. 


While the music Was the same, it was a ‘Love Story' of 
a different sort that was enacted on die Guangzhou 
stage in March. It was a celebration of the changes that 
have swept China since the ‘open door* policy to the 
West was initiated in 1979. 

Models paraded 107 garments over the evenings of 
March 1st and 2nd - to the beat of music from the 
1960s, the latest Cantonese pop songs and before 
packed houses in the 1,600-seat music hall opposite the 
Guangzhou railway station. It was the first fashion 
show ever staged by the Guangdong office of C hi n a 
National Textile Imports and Exports Corporation, 
co-sponsored with the China Silk Corporation. 

And its purpose was not statement that the ‘Liberty 


produced 
factories, 
spread 
province. 


even to boost sales, it was just 
for fun. According to 
company spokesmen, it was 
presented as entertainment 
for the citizens who may now 
buy and wear some of their 
fashions from Hong Kong 
and local designers; and a 
kind, of corporate fashion 


Uniform’ - those drab blue or 
grey tunics and trousers out 
like Western pajamas - is a 
thing of the past. 

Besides improving the 
quality of Guangzhou 
nightlife and giving amateur 
singers and models a chance 
to practice, the event was a 


way for China Nations, ... 
Textile lo parade its scuf ' . V. 
before an audience it has torn “ “ 
ignored: its own donle5ti :,, 
market. Since 1952 ih 
company bas built jr. :«*- 

reputation with forrigt >n 
buyers. It has its own qt 
to the United States 
Canada and its cotton u 
bedding and clothing 
in over 
by 5,000 worker ' 
throughout ch~- 
Its ‘Plum blossom 
children’s clothing is said ti 
be in great demanc 
worldwide. 

For two days in Mard . 
3,200 people in Guangzhoi .. 
had their consciousness raiset 
about the concept of fashiot 
itself, in an environment o 
leisure and with the promist - 
of a lucky draw prize. Ttw- 
prize for the local winner wat 
only a blouse, but for Chin* 
National Textile the prize wa: 
an introduction to the world’! . 
largest untapped market for 
personal apparel and tbfr. 
happy recognition that many . . 
of tomorrow's buyers may be 
the people right next door. 


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SPECIAL ADVERTISING SUPPLEMENT TO THE INTERNATIONAL HERALD TRIBUNE, "WEDNESDAY, MARCH 27, 1985 


New Wuhan office positions 
Hongkong Bank for China’s 
hinterland thrust 

W ONGKONG Bank is scheduled to open its new W uhan office next 
«■ month, and a spokesman for their Area Office China says river 
g coast cities like Wuhan are another stage in the Chinese 
^ government’s 4t trickle-in’' approach to rationalized development, 
ording to current Bank thinking, the PRC has turned around Mao 
ong’s concept of dispersing influence from the cities. This was based on 
relief that too much investment had gone to cities to the detriment of the 
aese hinterland. Now, under Deng Xiao-ping, the government is back to 
noting cities - as exemplified first by the Special Economic Zones 
icent to the major coastal cities of Guangzhou and Xiamon and then by 
:nt opening of 14 coastal cities to foreign investment. 

"hey are deliberately "*** 
ing urban investment to : ■_» 

fit the hinterland this 
,’* said a Bank officer, 
dues are again gening 
lion; but they are coastal 
ows to the outside and 
neans to exercise a son of 
de-in’ theory of 
lopment.” 

• uhan is one of three 
rrland dties that have 
given unusual discret- 
■y powers. Other are 
. igqing further up the 
;tse River in Sichuan and 
■yang in the northeastern 
ince of Liaoning. Wuhan 
:tually a conurbation of 
: dties with about five 
on people and it, with the 
r two munidpalities, 
jos directly to the central 
■ council, which makes 
i die economic equival- 
of Shanghai or Beijing. 
y are test points for the , 
rption of change coming ■ 
iver from the coastal 
s on the sea and the 
gkong Bank means to 
•H its leadership in China Hongkong Bank m Beijing. 



m[F 

n, L. -w.- ■ • 




gfc*» -r..- 

% *.<■*»»■- •• 

>ut value in the province 
also ranks fourth in the 

itry, is the China National 
■hinery Import & Export 

' k~ 

poration’s Guangdong 

dm 

ach (CMG). Established 

- -- • 

956, they have almost 30 


■s of experience in 

A. 

(national trade with 

-- ' 

3 is from over 100 


aeries worldwide. CMG 

** * 

rides cut across a wide 


Guangdong Province is 
the Cutting Edge of three 
ifferent ‘Open Door’ Zones 

China National Machinery is 
the Light Industry leader 

-nese government officials have created a third kind 
special economic area — Open Coastal Economic 
les - in three river delta areas of the country, 
tiding the Pearl River. That makes Gnangdong 
vince the single most “open” area of the People’s 
rablic of China. Of the original four special 
momic Zones, three are in the province: Shenzhen, 
ihai and Shanton (Swatow). Guangzhou (Canton), 
capital city, ranks fourth among Chinese cities in 
t£T commodities accounts and in export trade 
ounts and is one of the- 14 designated “Open 
istal Port Cities” inroduced late last year. In 
idon, it is the major processing center for products 
n Hainan Island, which was also opened for 
nomic activity at the time. 

l the center of range of manufacturing 
ogzhou’s light industrial sectors. They deal in the 
>ui which, according to import and export of 
ngdong Deputy Mayor machines and equipment for 
Anhai, accounts for complete plants, specific 
7% of total industrial application machinery, ships 
nit value in the province and vessels, hand tools, form 
also ranks fourth in the implements machinery, elec- 
ltry, is the China National trical products and so on. 
hinery Import & Export Guangzhou alone has a 
[joration’s Guangdong workforce of almost 800,000 
ich (CMG). Established in over 4,000 industrial 
956, they have almost 30 enterprises. The city’s 
s of experience in shipbuilding industry ranks 
national trade with third in the nation, and its 
its from over 100 ships have entered the 
i tries worldwide. CMG international market. It 
dries cut across a wide accounts for the processing of 


12% of the nation’s 
nonferrous metals and its total 
export value of rubber ware 
ranks second in China. 

CMG deals in the export of 
machinery and instruments 
manufactured by machine- 
building enterprises through- 
out Guangdong province. It 
handles the introduction of 
technology, coproductions, 
joint ventures and the import 
of machinery, equipment, in- 
struments, parts, components 
and raw materials needed by 
provincial enterprises. It also 
undertakes trade practices 
such as processing with suppl- 
ied drawings, samples mid 
materials and sub-assembly, . 
'compensation trade, technical 
service and labor export pro- 
jects. 

There are few things that 
CMG does not handle. 
Following is a short list of 
complete plant machines and 
equipment now available for 
export: sugar cane refinery 
(including multi-utilization 
equipment), paper making, 
cereals, oils and foodstuffs 
processing machinery, 

equipment for making toilet 
soaps, production lines for the 
complete enclosure of 
paper-case pasted dry cells, 
complete equipment for 
malting mosquito-repellant 
incense, equipment for 
production of various chemic- 
als, marine equipment, con- 
struction machinery, rab- 


by opening its sixth office in 
Wuhan, about 1,200 kilo- 
meters south of Beijing and 
west of Shanghai. Their bank- 
ing license is already approv- 
ed and the representative 
office will be well-positioned 
to help provincial authorities 
in their attempt to restructure 
trade apparatus and develop 
joint ventures; mainly to 
service the domestic 
economy. 

Wuhan is Hongkong 
Bank's first interior office, in 
neither a from line coastal city 
nor Special Economic Zone. 
The river port is • a 
co m munications and com- 
mercial center for neighbor- 
ing provinces, especially 
Hubei. It is also a manufact- 
urer of iron and steel, textiles, 
precision machines and a 
center for processing foods 
from the fertile plain which 
surrounds it. 

Development with Western 
involvement is not new to 
Wuhan, which when first | 
opened was a larger port than 
Shanghai. In fact, Hankow, 
one of the three Wuhan cities, 
was one of China’s largest 
trading ports before 1949 and 
there, remain many West- 
ern-style biddings. It had 
some 42 foreign consuls and - 
was one of the original “treaty 
ports” of the 19th century. 

“Our banking network in 
China takes account of the 
economic area going ahead,” 
said Bank spokesmen. “The 
Wuhan office puts us two 
ahead of all the other banks in 
China. The people here were 
very welcoming, and 
provincial authorities very 
professional. We see a lot of 
potential there.” 

Wuhan’s biggest drawback 
is the extremes of its climate. 
Though a beautiful city with 

ber-making machinery, cot- 
ton textile machinery, pack- 
aging machinery, ships’ iron 
blocks, semi-trailer contain- 
ers, electrical machinery, oil 
pumps, clean water pumps, 
fire extinguishers, hand tools, 
orchard and garden tools. 

Guangzhou is a collecting 
and distribution center of 
goods in South China and is 
one of the three largest 
finanrial centers in China. Sit- 
uated at the estuary of the 
Pearl River, is also a com- 
munications hub in the 
region. Its links inland are by 
a criss-cross network of water- 
ways and highways. It is the 
starting-point and terminus 
for railways to Shenzhen, 
Beijing, and Sansui. Its 
ocean-going vessels call at 
over 350 pons in over 100 
countries and regions of the 
world. Baiyun International 
Airport in Guangzhou has air- 
lines to large and med- 
ium-sized dties in China, and 
direct connections with Hong 
Kong, Bangkok, Manila and 
other dties in the region. 
Huangpu Harbor and Guang- 
zhou Harbor handle 22 mil- 
lion tons of goods per year, 
with another 16 million tons 
handled by rafl. Goods im- 
ported and exported through 
Guangzhou ports account for 
10% of the national total and 
the dry ranks as one of the 
four biggest ports in China for 
foreign trade. 


about 80,000 hectares of lakes 
and an “East Lake” five times 
the size of Hangzhou’s 
famous West Lake tourist 
draw, Wuhan is called one of 
the “three furnaces” of 
China. Summer temperatures 
can reach 40 degrees 
Centigrade and drop to 
minus-five degrees in winter. 
Ironically, its gorgeous lakes 
make it humid and more 
uncomfortable. 

Founded in China in the 
1860s, the Hongkong and 
Shaghai Banking Corporation 
floated the country's first 
public loan in 1874 and has 
been assisting in China’s 
development projects ever 
since. Even after 1949 and 
through the troubled period 


of the Cultural Revolution, 
the Bank’s S hang hai branch 
was always permitted to 
remain open and conduct 
business - a testament and 
measure of its special status in 
China. Today, its Area Office 
China employs 20 staff and 
coordinates activities in 
Shanghai, offices in Beijing. 
Guangzhou, Shenzhen and 
Xiamen (the two latter with 
Special Economic Zones), and 
shortly in Wuhan. Its 300 
branches in Hong Kong also 
finance a significant share 
of the estimated 20 per cent 
of China’s total internation- 
al trade which is channel- 
led through Hong Kong 
annually. 

Actually, Hongkong Bank 


pioneered the very concept of 
banking in many * Asian 
countries. It was literally the 
first bank in Thailand, the 
first Western-style bank in 
Japan and has always sought 
to provide better banking 
services for world trade by 
opening offices in the world’s 
main ports. A check of the 
Bank's present 1,000 offices 
worldwide shows how 
thoroughly this “ports first” 
policy was followed. Small 
wonder that it's so well suited 
to coastal cities* operations in 
C hina and so well under- 
stands the requirements of 
world traders. For instance, is 
also the oldest British-run 
bank operation in New York, 
France and Germany. 


Page 11 


By dint of its own 
expansion and acquisitions of 
banks in (he Middle East, 
Hong Kong and the United 
States, Hongkong Bank has 
become more a federation of 
banks than a single mammoth 
unit. The 20th largest bank in 
the world in terms of deposits 
is actually a group of banks, 
structured so that its various 
members retain their auto- 
nomy, identity and ability. 
The Bank expects that, 
“officers take their own decis- 
ions, and notify rather than 
seek permission from head 
office”. 45,000 staff members 
in 54 countries are linked for 
international requirements 
and unham pered in serving 
the needs of (heir local clients. 


Everlasting Rowers 


The creation of elegant flowers 
made from silk and other materials is a 
traditional art-form in China. 

Now you can buy artificial flowers 
direct from the largest manufacturer in 
China, China National Arts & Crafts 
Import and Export Corporation. 

You can buy existing 

types or we will be happy It- | 

to produce new St 

designs to your s£)j\ & 

requirements.. X * 


Contact: 

CHINA NATIONAL ARTS & CRAFTS 
IMP. & EXP. CORP., 

GUANGDONG BRANCH 
2, Quio Guang Road, Guangzhou, China. 
Cable: “ARTCANTOhT 
Telex: 44379 KCACB CN 




i. 


(&} ; 


s Ay, 














Am 



GUANGDONG TEXTILES FOR EXPORT 


MAIN LINES OF BUSINESS: 

• Cotton Yam 

• Linen Fabrics 

• Linen/Polyester Fabrics 
•. Staple Fibre. 

• Cotton Garments 

• Cotton Linen 
Embroidered Blouses 

• Cotton Knitwears 

• Cotton Manufactured Goods, 


• Cotton Piece-Goods 

• Cotton/Polyester Fabrics 

• Cotton Linen Mixed Piece-Goods 

• Staple Fibre Piece-Goods 

• Woollen Wears 

• Children’s Wears 

• Chemical Fibre Mixed Garments 

• Cotton, Chemical Fibre Mixed Knitwears 
Towels, Bed Sheets & Threads, etc. 


Business enquiries and orders for custom-made garments in compliance 
with supplied samples, comprehensive business and joint ventures are 
welcome. 


China National Textiles Imp. & Exp. Corp. Guangdong Branch 
63, Wenming Road, Guangzhou, China 

Tel: 31750 Cable Add: CANTEX GUANGZHOU Telex: 44071 KTTEX CN 


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Page 12 


SPECIAL ADVERTISING SUPPLEMENT TO THE IOTERNATIONAL HER.4JU) TRIBUNE, WEDNESDAY, MARCH 27,1985 


‘Emulate Beijing’s 
Jiang uo Hotel/ 
Hotel Managers told at 
Tourism Conference 


Fifty managers of top state-run hotels in China were 
told they should improve standards in their hotels, “by 
emulating the methods of Beijing’s Jiangno Hotel, the 
first in the country to meet international standards.” In 
1984, the Jianguo was also referred to as a good 
example of how Western management ideas and 
techniques can be successful in China. The hotel is 
managed by Hong Kong’s Peninsula Group, the oldest 
and among the most respected hotel management 
companies in Asia and the first foreign hotel company 
to manage a new international-style hotel in the 
People’s Republic of China. 


Well located in an area of 
diplomatic missions, and 
itself housing the permanent 


offices of over 30 international 
corporations and the com- 
mercial section of the 












This artist's impression shorn the mam entrance and avium skylights 
that give a garden atmosphere to the Jianguo HoteTs lobby. The hoteTs 
tower has 310 guestrooms and its lower building complex has I4S, 
including suites. 


American Embassy, the 
454-room Jianguo was design- 
ed by the overseas joint vent- 
ure partner, American archit- 
ect and property developer 
Clement Chen Jr. and pro- 
vides all state of the art hotel 
facilities including an indoor 
heated swimming pool, bout- 
iques banquet facilities, and 
three restaurants serving 
Cantonese and other foods, a 
cocktail lounge and coffee 
shop. 

Its food and beverage 
outlets are key indicators of 
quality to foreign Beijing 
residents and, always alert to 
market trends, the man- 
agement decided to open a top 
quality Japanese restaurant 
late in 1983. The ‘NakabachT 
restaurant on the hotel's 
ground floor was designed 
under direct supervision of 
Japanese management for 
authenticity and its kitchen is 
staffed by Japanese chefs. 

Western delicatessen foods 
were well nigh impossible to 
come by before the Peninsula 
Group decided to open- its 
‘Gounner Comer,’ which 
carries home-made breads, 
pastries and ‘cakes in addition 
to cold cuts, home-smoked 
trout and imported cheeses. 
The famous Peninsula 


chocolates are hand-made in 
the hoed with quality 
ingredients flown in from 
Switzerland and, twice 
weekly, the hotel’s master 
chefs prepare a selection of 
pm£ and unines. That the 
‘Gourmet Corner’ would be a 
smashing success with 
expatriates was a given fact, 
the surprise was bow popular 
it’s become with local Chinese 
anxious to sample such exotic 
fare. 

The Jianguo management 
means to keep their hotel at 
the top of the national rating. 
One way it expects to do so is 
with continuous staff training 
in a center to be incorporated 
in new staff quarters now 
under construction. The hotel 
has also recently sponsored 
three staff members to study 
on a one year scholarship 
grant all aspects of hotel man- 
agement at the Hong Kong 
Polytechnic. The hotel is also ' 
undergoing continuous re- 
furbishment. They are now I 
redecorating guest rooms 
under a phased program that 1 
allows for dosing several 
rooms at a time over a number 
of months. 

Training for service, 
redecorating for comfort, 
adding in food and beverage 
outlets for quality and 
innovating new services for 
convenience are four of the 
ways in which Peninsula 
Group management has built 
its reputation for excellence. 
This last, new service, is 
exemplified by recent 
introduction of a Valet Shop 
thar provides expert dry- 
cleaning services available 
even to those who are not 
hotel guests, and a one-day 
Kodak film developing and 
printing service. 


Your reliable source in China for medical and pharmaceutical 
supplies, production, export and import ventures. 


OUR MAIN LINES OF BUSINESS: 

• Medical materials • Clinical dressing 

• Medical preparation » Clinical gloves 

• Medical establishment • Western & Chinese 

patent medicine 

Talk to us about your market needs and quality control 
standards. 


CHINA NATIONAL CHEMICALS IMP. & EXP. CORP., 
GUANGDONG BRANCH 
(MEDICAL SUPPLIES) 

61, Yanjlang Road (West), Guangzhou, China. 

Cable: “SINOCHEM1C" GUANGZHOU 
TELEX: 44376 HAGON CN 



VOEST-ALPINE 
Finished Products Division: 
WORKING TO YOUR ADVANTAGE 


The Finished Products Division of 
the VOEST-ALPINE AG has at its 
disposal a workforce and capabili- 
ties, which allow it to rightly claim a 
position among the international 
market leaders. 


These capabilities are concentrated 
in seven market sectors, namely: 




O Energy 

O Mining Technology 
O Transport and Handling 
O Machining and Processing 
O Building Engineering 
O Environmental Protection 
O Services. 


The Division's intensive engage- 
ment in these market sectors en- 
compasses a customer-orientated, 
improved range of machinery and 
equipment Furthermore, by linking 
individual components to systems. 
Finished Products is able to offer a 
compact package of hardware and 
software, supplemented by services, 
thereby optimizing operations. The 
aim of which is to help ensure market 
leadership for our customers, too. 


VOEST-ALPINE FINISHED 
PRODUCTS DIVISION: WORKING 
TO YOUR ADVANTAGE 




If you wish to know more about us. 
write to us or give just a call. 


Our address: 
VOEST-ALPINE AG 
Finalindustrie, Posttach 2 
A-4010 Unz/Austria 
tel. 0732/585-1 
telex: 2208-600 va a 


General Agency in Hongkong: 
VOEST-ALPINE, Liaison Office 
Hongkong, China Resources Building, 
Suite 4303, 26, Harbour Road, Wanchai, 
Tel.: 00 852/5/73 5l 93, 73 71 01 . 

73 04 78, Telex: 62127 voest hx 


VOEST-ALPINE 


AMEX pioneers Consumer 
Financial Services in China 


iSP a 


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“We are pacing China’s growth. We’re trying to provide services for tourism by kwl people; of cog 

and business at the rate of China’s expansion and ability to absorb them,” . . 

says Richard Weden, Vice -President of American Express travel and card ^ ’ - 

related services in the Far East, Pacific and People’s Republic of China, when I move os, I can kJCr ' ‘ / 
Weden has been based in this Hong Kong posting since December 1983, behind me a bit of philosoph y i 
when there were only three cities with about 14 service establishments not just about American bar'., 
accepting the card, mostly in Guangzhou. STJiSaSSJS'JS.''-' 


- ~ ' — ess, wmen anows ror a 

Dick Weden is clearly proud of his 15 months spent budding the China nibution to the country ap 
base of operations and services to American Express Cardm embers: “You ^/ctiSgcm his belief fed 
can sleep, eat, drink in acceptable Western-style hotels in about 18 cities doping ^ ^ - * 

throughout China. We have about 150 affiliated establishments currently the former director of die c&.° 
and expect dose to 300 by the end of the year.” tramural education progr** fJ 


?n» m 

VvlweW*'** 

„ 

... t * 

««* <►#% 
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•« 


American Express has been 
in Beijing about three years, 
and has its representative 
office at the Peking Hold. 

They came to China under 
the auspices of the National 
Tourist Authority (N.TA), 
which is under the China In- 
ternational Tourist Service 
(C-LT.S). Initially they op- 
erated only in an advisory 
capacity to the government 
and as a liaison office for 
groups coming into China. 
Even now, the only group 
tours sold directly by 
American Express come out 
of New York City and tally to 
about 3,000 passengers a year. 

Weden’s strategy involves 
four simultaneous tacks: con- 
vincing high gov ernm ent of- 
ficials that some American 
Express policies are inflex- 
ible, such as negotiating his 
way out of surcharges on card 
use by members that apply 
to all other card holders 
in China; conducting ex- 
pense-paid seminars for oper- 
ators of hotels and restaurants 
and Bank of China officers in 
the provinces to introduce the 
philosophy of credit cards and 
financial services; beating 


the bushes to expand the ser- 
vice establishment base of 
American Express in China; 
enlarg in g the size of the Beij- 
ing Office to offer more com- 
prehensive services to tourist 
groups and business people. 

Direct Purchase Service 


“Yes, you can hand your 
American Express Card to a 
waiter and pay your bill in a 
hotel restaurant accepting the 
card,” affirms Weden, who 
adds that, “We still recom- 
mend you bring more travel- 
ers’ checks than usual for 
crave! to China.” Lack of card 
acceptance and, most loudly, 
the indirect surcharging of 
card use by Chinese establish- 
ments has been a complaint of 
foreigners doing business 
there. 

American Express forbids 
surcharging on their product, 
but the Chinese require a cash 
advance system be used by all 
other cards in the country. 
Until last December, anyone 
hoping to use a card other 
than American Express had to 
go to a special counter in their 
hotel to make an advance in 
the amount of their bill. They 


could not simply - hand a 
waiter their card and sign a 
chit. Besides bring trouble- 
some, it was expensive. Chin- 
ese bankers charge four per 
cent of the total withdrawn 
for the service. Special hotel 
counters have since been re- 
moved and now only one 
bank per city is allowed to 
make such transactions. 

This simplified banking 
practices, but did little to 
make life easier for card users. 
American Express bypassed 
the cost to customers itself by 
paying a fixed fee of US$6 per 
check; which also allows for 
“direct purchase service” to 
their cardmembers. That is a 
euphemism for bring able to 
use the American Express 
Card for direct payments, 
without the complications of 
the “cash advance” system. 

Financial Service Seminars 


Richard Weden is a builder. 
In the most recent issue of 
American Express Naas, a 
members newsletter publish- 
ed in Hong Kong, he is 
quoted as saying, “I consider 
my job to be one of building 
local operations that can be 


doping local talent, he hui> ' 
the former director cl die c&.° ' 
tramural education progm 
at Hong Kong’s wdl-rcgarde l.r* 
Baptist College, Thomas Lo) . . 
Lok is now the director * 
American Express operation 
in Beijing. Purling an educi 
tor in the driver’s seat wu i . 
preparation for the sexzmxai 
series that began in Angu 
1984. So far four have bee - 
held in Guangzhou, Wui . 
Suzhou and Shanghai; attem >. 
ed by about 4S0 pcopi’ 
Those that relate to affiliatk 
feature little signing ceremoj 
ies at the end with presen 
ation photographs of tf ‘. 
managers from new servu 
establishments. 

The seminars are the bag 
upon which Weden daim 
“We are in the forefront « 
bringing the verv concept »« 
financial services and phil^ 
sophy of credit cards ra 
China. We pay their expend ‘ 
to attend these sessions. D( 
have invested the money ar 
the time for this and are defi 
itdy the leaders here.” Sec 
inars are critical adjuncts 
expanding card acceptan 
since ail such agreements a' ~ 
signed in conjunction wi - 
local branches of the Bank * 
China and administerr - 
Continued Joeing page 


4MN 
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r 


China’s Open Areas 


HEILONGJIANG 


* 

-r*cS» 


Ml foreign visitors to China require visas to enter the county. The following 149 
places are ‘open’ to foreigners and afl require travel penults except those thirty 
in itriics. The numbers refer to the positions on the adjacent map. f 


***** 
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V 


NEJ MONGGOL 


XINJIANG 


QfNGHAI 


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HENAN C 

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XZZANG (TIBET) 


SICHUAN 


'EX Financial 


XJ3 

« m 


(JIANGXI 
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FUJIAN 
i nl 


Em China Sm 


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Kay 

U**s hBJtmffei 

□•*£ Shanghai pi) 
□•★a Tianjin (Si 
ANHUI Pmfnee 
75 Bengbu 
7B Hefei 
ao Hungarian 
Tourist Aim 
71 Me’anehen 
79 Qtagyang 
(JUwoShant 
81 Turn 
78 «Wu 
HUUNPrMhxe 
□*111 Fuzhou (31 

□ i12QuaiuhM 

□ 113 Manen 
1U Z m nfftfwu 
QAMSU Piorinc* 

44 OunTuna 

45 Jlayuguan 

46 .fhwiewt 

□ 47 Lana oa 
OUANOOONG nmfnoa 
SJ Patron 

□a » 177 Giantahau OB 

□ 137 HeBuxi 

13* Otonjmen 
1 S3 Nenhai County 
120 Shantou 
*U0 9wn*iM(e! 

133 Shunda County 

136 Zhsipang 
O J2fi Qaootng 

133 Zhongt hm Canty 
*1»ZhiA»B 


YUNNAN 


KBL0NCJIANG Province 

4 Daqing 

5 Martin 

i Mudantiang 
? JUnosI 
3 OoBiar 
1 YWiiai 


S /GUANGDONG 

/!» jp °5- 
fGUANGXI w / 

to “Vo* vn/tl— 




Hong Kong 




OUANmaZhuaig 
Aatanomaua flagiea 
MB Baum 
J*3 Blnyang 

□ * IS9 Guam Ml 

1*1 Gulpfeig 

140 Uuzhou 
□ IS Naming 
144 Wuntng 
1*2 WOzhou 
13B Xing County 

taffiHOU PBMtnca 
K» Gutyano 

110 Ztimifig BouyofrMao 
Autonomous County 

IHuanoguoSW Watotall) 

HEBEI PiOTtaoe 
IS Cnengoe 
2? OmhuenBOH 
• 25 StUyaznuang 
2* ZtKKKUn 

2 ZunnuaCast lexroa 


HSIAN PnaHnca 
96 Anyang 

SB Gongrfan County 

57 K atarg 
9* Laotian 
S7 Laaynng 
55 xmdang 

61 XtayanglNoongShant 
9 ZHangtOou 
HUBSPmtaca 

89 Danpanghou 

93 Janglng 

94 SuaM 
□*97 WutianHl 

90 Xlanglan 

95 »anvng 

□ 92 YWiang 
HUNAN Pronncr 

□ S> crangshe 

12* hengahen County 

gtengahan Tounsi Areal 
125 Kanwang 

122 XIangtan 

123 Xlangtan County 
(Bhacatiani 

120 Yueyang 

(Pongung Lane) 

JIANGSU Phnlnca 
72 Ounoahu County 
7D Omgdiou 
6* Hualan 
63 Lunyungzig 
Nammgnoi 
OB Nflntoog 
□*n SwnoufiTj 
U*n worn 4 
53 Xuih ou 
*B5 YangjftouR 

*60 Yramfl (1) 

*66 Zhen^angi*) 

JIANGXI nartnea 

□ 117 Jaigdeihen 
119 JinggvigatHn 

□ 116 Jkitung 

toKAidng Lushani 

□ 110 NantMng 

115 Pangie County 
(Dragon Palace C**l 


JUNPitarinoe 
9 Artu Cotairy 

(Cnan0Mi Mountain 
Nature INaatve) 

7 Changchun 
B JBftiOty 
UAOMNG Prmtoea 

12 Anatian 

13 Bared 

□ is Henan 
16 Oandong 
11 Rohun 
T4 Jhufiou 
15 LUoyang 

□ TO stionmg 

□ 17 YH0UIU 

NB MONGGOL 




South China Sm 


In addUon, the Ysngce Rtwerto open 
between Owng^ng end ShantfaL 


20 Baotou 
20 OalaO Banner 
WangN w aren ) 
27 HohtXJt 
NrflGXMHd 


42 Ymdnjan 
*3 Zhongwel 
QHGHM Pmriaot 
48 XHng 

*9 HuangAong County 
(Taiat TerepNj 
SHAANXI Pnadne* 
□■*4J XTanfT) 

*g Xtan yang 
39 JfanWi 


8KHUAN Pimtooa 

□ 9§ Chengdu 

□ 105 Chongqing 

104 DaaiCointy 
109 Em# Shan 

101 Fen^eCowity 

96 Guareetan County 
107 Lsahsi 

1(0 Matshan County 

99 WaredMi 

102 Mohan County 

97 xmrei 

100 Yiyryano County 

105 Zhonpctan County 
XMBANG Mgtar 


American eqtrecA SreWcea In Chtna 
(March 100^ 


53 KaaMpteigad 

50 JhBreai 
S2 Tirpan 

51 Unanqf 


SHANDONG PiwHnee 
34 Jinan 
S KwiSCouniy 
(Shangi OMUeU 
□ •32 Qingdao 
30 Oufu 

30 Tat'an (Tatahan) 

31 Wiifjng (Ctiangiwei) 
. X Virdai 

33 23t» 


147 Dab 
□ Mf Mumping 

tunor W NHonaUtr 
Avtonomova County 
(Stona ForatO 


SHANXI Piuvtnca 

37 Datong 

38 Tat ran 


2HEJMNG Province 
0* (Mqtng 

(Uogvi Sham 
□ •85 Hengami 
S Hujnou 
E Jtamg 
87 Nr-nyjo 
□ 06 Shaoxing 
89 •'fendieu 


□ 30 cMm that han emergency 
cheque cashing el B«tk of Oilna 
offices. A titles wtt|t EEC am re* 
On map; Dsiung In Ueonfeig 
Pradnce, Panyu in Gutfigdong 
Prod nee, Zhongahan In Sheared 
Prorkiee, Wulumuqi In Xlnpwig 

• 8 cities when fra whan cheques 
ratande can be had el mein 
branch Bretk at China 

* 18 ctttw *«tr “»e« Purchaee" . 
es M M Ub me m s toMoarad by tout 
Matter. Gongbel Included wflh 
ZhUhei 


« mm 

.ii u-uMtr 

v- 

a. i'rtt mm & 

iVUi 

- ; 

ill' < • ■ 

1 hmi pm 
-*Ntttapeii*i 
’ hiiww WNM* 
*■*» 'vWiwid 
■*«»•■« Huic . 
MjM» Tlwv 
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-«tkkk 1 
ilw xxrnmi 
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: «m 

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k- i»i* halt *4* 
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Sooce: AMEX Hong Kong 


(no nm aarooaa not rarer fo Ttamn Pnmnci 


Source Peoples Daily (September 1984) 


CHINA TEA & COFFEE 


-I 

’■ 'He** fc m 

•M-trW tuttvMg 

‘■fenagr 
:5 *i' Ai c< 

I *m » 

• ■’ tfMrfV 

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The following kinds of products are being handled for export by us, the Guangdong Tea Branch: 

Black tea, green tea, scented tea, oolong tea, pu-erh tea, beeng cha, tou cha, lichee blade tea, rose 
congou, kooloo tea, the well-known tea, canned drinks and a variety of teas in small packages. Each of 
these items has its own special characteristics and is welcomed by consumers both at home and abroad. 

We are also specialized in handling the import and export business of coffee and its products. 


CHINA NATIONAL NATIVE PRODUCE & ANIMAL BY-PRODUCTS 
IMPORT & EXPORT CORP., GUANGDONG TEA BRANCH . 
’I’M 


Address: 17-19 Sha Ji Dong Yue, Liu Erh San Road, Guangzhou, China 
Cable: NATIONTEA Guangzhou Telex: 44420 GDTEa CN 








Page 13 




Cons S= 

,n Chi. Aerospatiale Helicopter Market 

Mill* 4^ /vu^i ■ 


SPECIAL ADVERTISING SUPPLEMENT TO THE INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


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tied to Offshore Oil Finds, 
Technology Transfer, and Direct 
Sales in China 

“Although Aerospatiale will likely sell some inter-city commuter helicopters 
in China’s current expansion, “For us, the main market is the oil business,** 
says Henri Veinazobres, their Far East and Australasia Representative and 
Petroleum Industry Co-ordinator in Hong Kong. 

For that reason, he is closely watching the build up to a new round of 
bidding for offshore oil contract concessions in the South Hiina Sea, 
. expected by the end of 1985 or early next year. China is among the world’s 
largest oil producers and is a net oil exporter. However, its onshore oil 
production peaked in 1980 and the government has since placed great 
emphasis on attracting foreign investors to participate in exploration and 
development of offshore oil reserves. According to a recent Citibank report 
on investment, the China National Offshore Oil Corporation had concluded 


.-V . . 

So far, finds of commercial 

* - , - . _ 

quantities of gas by ARCO 


and o3 by TOTALarethe only 


successes of note, and gas is 

-wsek* »a » - 

notoriously expensive to bring 

1%*# v .. 

v nut and export. There is con- 


sequently a real question as to 


how many operators will want 

4*t**Ve~ J -. • 

to undertake the search for re- 

i ■> 

‘ - sources in the next round of 

' . 1 • - - 

-bidding. Vernazobres ex- 

Wfan*. a*, i 

plains that shares in a concess- 

fs:-- • • 

ion are spread and it is the 

WWW . 

. : ..V- ' 


number of vehicles needed 
and cheir size or flying char- 
acteristics. For instance an oil 
company may want a large 
capacity helicopter as a fail- 
safe against having to evac- 
uate its men in bad weather 
areas, though the rig may not 
be far offshore and could 
normally be serviced by a 
smaller aircraft. 

Helicopter services to oil 
companies are provided in co- 





. . 

' AnSA 36SN Dauphin II ofCATIC. 

operating companies that are operation with the Civil Air- 


closely monitored by service 
and- supply companies like 
..Aerospatiale. He says there 
are 12 companies active in the 
"south at present, three near 
Shanghai and one Japanese 
firm among Chinese operators 
. .. in the Bohai gulf. 

Helicopter support com- 
panies rent equipment to oil 
companies on a monthly or six 
month basis to service specific 
nil exploration rig needs. Oil 
companies pay rental fees and 
an additional fee based on 
flight hours of use. 

Oil companies exert great 
influence over which helicop- 
ters will be used on a given 
project and the rental market 
is actually tied to a ratio tif . 
t rigs under construction and in 
use to the air support they re- 
quire. Rig requirements and 
location of use affect both the 


craft Administration of Ghina 
(CAAQ in Guangzhou and 
the Zhuhai oil base and with 
the China Ocean Helicopter 
Corporation in Shekou. part 
of the Shenzhen Special Econ- 
omic Zone in the south. 
“CAAC and COHC have 
branches all over China,” ad- 
vises Veinazobres, “but they 
operate under different names 
and keep changing the names 
all the time.” 

Vernazobres, who has 
worked on the civilian side of 
the Aerospatiale market for 
about four years and has been 
in Asia for 14 years, also notes 
that decentralization of CAAC 
has made dealing with China 
more complicated. “In the- 
past it was easy. You dealt 
directly with CAAC. Now the 
province will decide its need 
but the final decision still 


rests in Beijing. So you must 
deal with both the end-user 
and a committee in Beijing. 

“They have very old air- 
craft. Both Chinese and for- 
eigners travel more now and 
their needs cannot be met by 
the roads and rail system. So 
there is even more reliance on 
airways,” notes Veinazobres. 
Aerospatiale has been operat- 
ing in what is generally view- 
ed as the world’s last major 
untapped market for aircraft 
products since 1967. It is the 
world’s leading exporter of 
helicopters, with 7,500 sold to 
almost 600 civil and military 
operators in 100 countries. 
According to company literat- 
ure “Aerospatiale is one heli- 
copter out of four throughout 
the world,” and its, “no exag- 
geration to say that the com- 
pany earns almost 60% of its 
turnover by cooperating with 
foreign industries.” 

In 1979, the China National 
Aero Technology Import and 
Export Corporation (Catic) 
was created as the commercial 
arm of the ministry of aviation 
responsible for importing for- 
eign technology and equip- 
ment. Over the last five years 
agreements with over 40 
countries have been reached, 
including a licensing plan 
signed in 1980 with Aerospat- 
iale to manufacture Dauphin 
U SA365N helicopters in 
Harbin. 

Veinazobres describes the 
program as a progressive exer- 
cise which began with the 
French company at first just 
sending breakdowns for ije- 
assembly. Now some parts are 
made in Hiina and. eventually 
everything will be made 
there. Technology transfer at 
rhi«; plant and the training of 
pilots and engineers with each 


Continued from previous page 


AMEX Financial Services 


through their International 
Division headquarters. That 
means both local bankers and 
business managers must 
understand the credit card 
concept for the program to 
work. 

Service Establishments 

The payoff is that, according 
to Weden, American Express 
.has easily double the number 
of service establishments of 
any other card in China. 
“About 75% of all people who 
come into Hong Kong are 
clients of ours in one way or 
another. I imagine the same is 
true in China,” he surmises. 

We den outlines the current 
services available (as at 
mid-March) and notes they 
are operated in a cooperative 
arrangement with the Bank of 
China. These are some com- 
monly available elsewhere 
that are not yet open to card- 
members in the country: 

I. Emergency check cashing 
is available at Bank of China 
offices in 36 Chinese cities 
(sec map). 

.2. Travelers’ check refunds 
are available at the main 
branch of the Bank of China 
in eight dues so far: Beijing, 
Tianjin, Shanghai, Guang- 
zhou, Hangzhou, Qingdao, 
Shijiazhuang, and Xian was 
signed on this month (see 
map). 

3. Mail pickup services at the 
Beijing office. 


4. Emergency card replace- 
ment at the Beijing office. 

5. General tourist and busi- 
ness information assistance, 
Beijing. 

6- Reservations booked (only 
in some cases). 

7. No airline confirmations. 
Right now all must be made 
through CAAC, which is not 
yet affiliated for card accept- 
ance. 

“Direct purchase” service 
establishments existed in 19 
Chinese cities according to a 
list released by American Ex- 
press Hong Kong in mid 
March. They are weaker on 
hotels than might be expect- 
ed, which Weden explains 
with the example of Shanghai 
- a key dry from his view and 
one where major hotels such 
as the Peace or Jingling still 
do not take the card - “They 
see no need for giving dis- 
counted rates to the cards 
when they are always full. 
They do not yet see the card 
as an expected service by bus- 
iness people and travelers.” 
In Beijing he notes that there 
remain four joint-venture 
hotels currently not accepting 
the card, but be expects that 
to change within a month or 
two. As of March, American 
Express was accepted in one 
or more hotels in 14 of the 19 
cities; about 35 altogether. 
The overwhelming majority 
of service establishments are 
either showrooms or factories 


for arts, antiques and crafts or 
carpets; over 70 in all. 

Office Expansion 

“As China opens with more 
airlines, hotels, tourist places, 
our office has more requests 
to handle an increased num- 
ber of tourists and to offer ser- 
vices within China. It is now 
more a link to achieve tours 
than a direct tour operator.” 
Weden wants to expand the 
office capacity in Beijing by 
moving from the present 
room on the 15th floor of the 
Peking Hotel to, “maybe the 
m ezzanin e area; which would 
give it greater size - and then 
staff it with both local Chinese 
and experienced American 
Express personnel.” 

He adds that, “We can’t 
just think of Beijing. We also 
have office plans for Shanghai 
and maybe in Guangzhou, 
and are seeking government 
approval at present- We may 
have to go into some type of 
joint venture. We hope to 
have a company office in Beij- 
ing and. then have American 
Express approved ser- 
vice-office relationships in 
Shanghai and other key 
cities.” 

New service establishments 
are being added daily and it is 
dear that Richard Weden and 
American Express see the 
People’s Republic of China as 
a great bountiful wilderness of 
potential cardmembers, ser- 
vice establishments and users. 
It needs only to be tamed and 
taught the benefits of plastic 
over paper cash before it can 
be tapped. 


helicopter sold since 1967 has 
led to over 100 Chinese tech- 
nicians being trained at the 
main Marignane plant near 
Marseilles airport or the La 
Coumeirve helicopter blade 
plant near Paris. 

“Those helicopters deliver- 
ed in 1967 are still flying,” 
notes Vernazobres, who adds 
that this means more as a test- 
ament to the original 15 
Alouene IH seven-seater heli- 
copters than it would if they 
were aircraft, which generally 
require less maintenance. “In 
a helicopter, everything 
moves, so there is more 
wear.” 

In 1973, more direct sales 
were made, this time of 13 
Super-Frelon models with 
three engines and long range. 
In 1980, besides the Harbin 
agreement, three Lama 
SA315 five-sea ter helicopters 
were purchased by Chinn 
This unique aircraft set a 
world altitude record of 
12,440 meters and is capable 
of lifting more than its own 
weight. It's a workhorse ve- 
hicle popular for cargo sling 
operations, characterized by 
excellent high altitude and hot 
atmosphere performance. In 
1984, six AS332 Super Puma 
models were purchased. 
These large vehicles are pop- 
ular for corporate travel and 
transport of officials. Spare 
parts warehouses are kept in 
Hong Kong and Singapore 
and Aerospatiale keeps a 
French engineer in Beijing on 
call for after sale support. 


Peninsula Group promises 
Global Standards for the 
Garden Hotel 


Late last year the Peninsula Group undertook to bring 
international management and service standards to the 
24-storey Garden Hotel in Guangzhou (Canton). In a 
joint venture agreement with Guangzhou I .ingnan^ In- 
vestment Company and Garden Hotel Holdings (HK) 
Ltd, this ‘city within a city 1 aims to become a primary 
venue for business travellers to Spring and Autumn 
trade fairs, as well as overseas residents based in 
Guangdong to support new ‘open door' investments 
like development of South China Sea oil exploration 
support bases in nearby Zhuhai. 

The Garden Hotel and a fully equipped health club 
adjoining 17-storey office and 
apartment block are set in 
their own landscaped 
gardens, and the 24-storey 
hotel has been design to 
provide both the guests in hs 
1,147 rooms and expatriate 
residents a self-contained 
service and leisure center in 
China. Food and beverage 
outlets range from a revolving 
restaurant at a height of 90 
meters over Guangzhou, 

“The Carousel”, to an 
unusual coflection of small 
food stalls clustered along an 
artificial lane called “Lai Wan 
Market” and serving South- 
ern Chinese specialities and 
snacks. There are 15 rest- 
aurant outlets in all. 

Leisure facilities include 
international s tandar d t ennis 
and squash courts, due for 
completion late this year, and 


with sauna, jacuzzi and 
plunge pools. The podium 
roof of the hotel features a 
large outdoor swimming pool 

' '.Me • 

... « 


and children’s wading pool. 

Also under construction are 
a conference hall of 1,580 
sq/m that can accommodate 
up to 1,400 delegates 
theater-style, with simultan- 
eous translation feriliriK anrf 
full A/V support systems. The 
new area will also lend itself 
well to exhibitions, banquets, 
stage shows and other demon- 
strations. The Garden Hotel 
business center features priv- 
ate conference offices, word 
processors, telex, document 
facsimile facilities, comput- 
ers, a business library and 




'**?*■ 







Elegantly covered entrance to the Garden Hold in Guangzhou, which is 
managed by the Fernanda Group of Hong Kang. 


multi-lingual secretarial 
services. 

Already managing one of 
the world’s great hotels. The 
Peninsula Group recognized 
early on that high standards of 
facilities without related 
sendee quality were a waste of 
money. To overcome the 
problem, they devised an 
extensive training program 
for their 2,000 locally recruit- 
ed staff! 

Increasingly, new Guangzhou 
hotels have celebrated the 
merging of Western modern- 
ism with Oriental themes in 
their lobby decor. The lobby 
of the Garden Hotel, designed 
by architects W. Szeio and 
Partners of Hong Kong, is a 
sculptural marble showcase of 
mammoth proportions — 80 
meters long and nine high - 
that pays tribute to China’s 
most famous literary classic. 
The Dream of the Red 
Chamber , on one side of its 
luxuriant entranceway, and to 
the agrarian life of Hainan 
Island on the other. 

Members of the Foshan 
Arts and Crafts Institute were 
commissioned to depict a 
scene from The Dream of ike 
Red Chamber in black marble 
transported from Shanghai. 
The scene is described with 
incised gold leaf. Hainan's 
simple agrarian lifestyle is 
contrasted in blocks of white 
marble. To complete the 
sculptural gallery, the city’s 
official flower, from the 
kapok tree, is carved in relief 
on white marble at the far end 
of the lobby. 


Retailing; Cfontame^ 

and a patient, lang-temi approach to China . . .. 


risen has prospered in difficult economic times 
by doing well wiiafc we know best 



— ong Kong has shaken 
— the uncertainty of 
world recession and exports, 
once again, are on the in- 
crease. Over the past twp 
years we've actively parti- 
cipated in this growth. For 
example, we handled over 
43 percent of Hong Kong's 
container traffic Lhrough 
our container terminal at 
Kwai Chung. 

Retailing & tradings 
Meanwhile,manvHongKong 
consumers wanted an alter- 
native to traditional family 
stores and streetmarkets. 
Hutchison's A.S. Watson 
Division was positioned to 
accommodate The Park n 
Shop supermarket chain is 
now the largest in Hong 
Kong. Watson's retail chain 
(chemist and personal products) is also 
the largest of its kind with 30 outlets. 

John D. Hutchison Trading Group 
is another Hutchison enterprise that 
has done exceptionally well. With pro- 
ducts such as Cadbury's, Kellogg's and 
Nike sportswear, every Hong Kong 
household uses at least one JDH pro- 
duct every day. 

Growth & profits 

Knowing the right moment to act and 





steady, sensible growth has 
helped us to profit even 
during the unsettled proper- 
ty market of the past two 
years. 


grasping the initiative when opportuni- 
ties arise is why Hutchison is more than 
just managing in Hong Kong. What 
more conclusive evidence is there than 
our consolidated net profit for the year 
ended 31 st December. 1983 of HKS1.17 
billion? 

Our spheres of influence include 
quarrying, shipping, food manufactur- 
ing . . even hotel ownership. 

We’re also in property manage- 
ment and development. Our policy of 


China trade 

Hutchison is increasingly 
involved in business with 
China. We have offices in 
Beijing and Shanghai and 
we're steadily building our 
commercial ties with most 
of the China State agencies. 
We know the prospects of 
business with China offer 
great potential, but care, 
patience and a dear under- 
standing of China's priori- 
ties are prerequisites for 
success. 

If you’re looking into 
Hong Kong or China, it 
would be worth your while 
to take a closer look at Hutchison. 

Write far mope infonnatiop 
For more information on Hutchison, 
please write to us on your letterhead 
We will send our latest Annual Report 
plus more information on any other 
aspect of our operations that you de- 
signate. Write: Hutchison Whampoa 
Limited Corporate Information. 22nd 
Floor. Hutchison House. 10 Harcourt 
Road Central, Hong Kong. 



j) 

Hutchison 

HUTCHISON WHAMPOA LIMITED 



FAMOUS SINCE 1900-THE NANG JIANG KNIFE 


Yang Jiang knives have been produced in Guangdong 
Province since the turn of the century. 

They have become a household name in China for 
sharpness, durability and good looks. 

Originally produced by hand. Ybng Jiang knives are now 

machine-made but the same 
pride in craftsmanship continues 
in the manufacture of the 
“Diamond" brand of 'fang Jiang 
knives. 

Over 200 different 
“Diamond" knives are available 
in stainless steel, or 
electroplated steel. They 



feature many varieties of handles including wood, aluminium 
and plastic. 

"Diamond" brand fang Jiang knives — sold in more than 42 
countries around the world. 

Please contact us for more information. 

CHINA NATIONAL LIGHT 
INDUSTRIAL PRODUCTS 
IMPORT/ EXPORT CORP.. 
GUANGDONG BRANCH 
2, Qiao Guang Road, 

Guangzhou, China. GDUP 


✓ J 
/ / 

s / 


o 


Tel.: 31959-25 
Cable: INDUKT GUANGZHOU 
Tele*: 4444? KUPC CN 







■SVi'aW.'S »^SI2 3S*?6IS Ff^33a?Jl8JHms;5«?S5S?S»?r?:5$j? l«l 


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Page 14 


SPECIAL ADVERTISING SUPPLEMENT TO THE INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


Guangdong CNUP 
markets Diamond Knives 
Overseas 


Guangdong’s branch of the China National Light' 
Industrial Products Import and Export Corporation 
means to put a ‘Diamond* in the pockets of new 
overseas customers - a ‘Diamond* (Yang Jiang) brand 
knife. Over 200 types of knives are produced by the 
branch in an industry traditional to die province, but 
which has been adapted to machine production. 


Their emphasis is now 
aimed to compete in markets 
dominated by the classic 
“Swiss Army Knife” and its 
imitators with variations on 
pocket or camping knives that 
fold closed. However, the 
company has produced knives 


since the turn of this century 
and offers a wide range of 
products, such as hunting and 
kitchen knives. They come in 
stainless steel or electroplate 
and handles can be wood, 
al uminium , plastic, etc. 

The fact that their knives 


can hold an edge is 
demonstrated by their ability 
to still be used as a shaving 
blade after slicing a coin into 
halves, say company 

spokesmen. Quality and 

competitive pricing have 

already led to demand for the 
‘Diamond’ knives of 

Guangdong in 42 countries in 

Europe, the Americas, 

Southeast Asia, and Africa. 

CNLIP is still directly 
regulated by central state 

planners and its eight 

divisions are situated 


throughout the province and 
employ tens of thousands of 
workers - most often in very 
small production teams. They 
are anxious to import modem 
technologies for the reason 
that current methods keep 
outputs low though the 
branch enjoys a huge market 
penetration- Beyond the odd 
items like plastics and steel 
sheets, raw materials axe 
supplied locally. 


Bonuses 


MACHINERY 

From Guangdong CHINA 


k.m 





All eight of the branch 
divisions are keen for overseas 
involvement, which offers 
opportunities to the small and 
medium investor, such as a 
German company thar is 
involved in a cooperative 
venture to produce a barbecue 
oven which bums wood fuel 
rather than gas or requiring 
electricity. The divisions are: 
Large and Small general 
merchandise departments; 
Stationery, Musical instru- 
ments (Chinese and Western), 
Sporting goods, and Paper; 
Plastic products (including 
toys and plastic utility items); 
Household construction prod- 
ucts (including wallpaper and 
carpets); Household electrical 
appliances; Shoes (mainly of 
rubber and cloth for light 
uses); Suitcases and hand- j 
bags. | 


A. Orchard Tools 


B. Steel Shovels With Handle 


C. Roasting Oven Model HL-25 


China Trade 




EXPORTED BY 

CHINA NATIONAL MACHINERY IMPORT & EXPORT CORP. 

GUANGDONG BRANCH 

61, Yan Jiang Road (W) Guangzhou, China. 

Cable: “MACHIMPEX” GUANGZHOU 
Telex: 44376 HAGON CN 


Consultant with offices In 
H.K. & Guangdong. Fluent In 
Eng., Cantonese & Mandarin. 
Extensive connections m trade 
and industry in Cftlna. Principals 
in U-5-A, N. America, Europe, 
Middle East & Asia are invited to 
submit details of protects 
involving Chine iradeflnvastmem 
to Robert Lee. Managing Director. 


R.L.C. Services 
130 Thomson Comm. Bldg , 
8 Thomson Road. Wanchal. 
Hong Kong. 





ftninsula Group hospitality awaits you In just two years. The 

in the fabled Cityof Beijing. ha f, become 

r-p. r J ^ ^ the most respected uiiema- 
1 hejianguo HOtCL tional hotel in Beijing. 

It’s managed by one of the world’s leading hotel 
operators, The Peninsula Group, which means the 
finest rooms, service and restaurants, and easy, 
efficient bookings from anywhere in the world. 

For reservations: Contact your travel A k 
agent; The Peninsula Group, Hong Kong V m 
tel: 3-7225771 or 3-682335, telex: 34064 * 

PENGP HX; The Jianguo Hotel telex: jmnouohoiu 


Tie Peninsula Group of hotels are located ia Hong Kong, Singapore, Manila, Bangkok, Beijing and Guangzhou. 

JGHIHTJC5} 


iy 


PIA counts its China 
Service a High Point 
in its Growth 


The impact of new open 
door policies is expressed in 
new wage systems and 
wider overseas participation. 
Bonuses are given and some 

workers measure then- 

monthly pay in the hundreds 
of Remnimbi. This remains 
considerably lower chan 
comparable workers in Hong 
Kong, Singapore, Taiwan or 
South Korea, but spokesmen 
claim ii is for the moment the 
success of financial incentives 
rather than such relative 
Hnltar amounts that have 
improved efficiency. 

Opportunities 


It was the proudest moment in the history of Pakistan’s 
national carrier when its Boeing 720-B landed at 
Shanghai airport, commencing a regular weekly 
service from Karachi to Canton (Guangzhou) and 
Shanghai in April 1964. PIA was the first IATA carrier 
and first aitfise of a non-communist country to touch 
down on the mainland. The People’s Republic of 
China has opened its doors to the outside world on the 
wings of PIA- 

Hurty-one years ago in 1954, a passenger airliner 
carrying the flag of the sovereign state of Pakistan 
swept into the clear blue sky over Karachi. It was a 
green and white Lockheed Super Constellation. The 
flight - the first ever non-stop JKarachi- 
Dhaka service -r signalled die birth of PIA, a landmark 
in the aviation history of Pakistan. 

Today, Pakistan Internal- At a time when many 
ional with a fleet of 32 of the international airlines have 


Today, Pakistan Internat- 
ional with a fleet of 32 of the 
best available aircraft in the 
world, ranging from the ever 
useful F-27 to the giant 
Boeing 747, transports over 
10,000 passengers and tons of 
cargo every day, touching 38 
international destinations in 
Asia, Africa, Europe and 
North America, besides 24 
domestic points. 

PIA today wears a modem 
look and intends to keep it so, 
looking into the future with 
humility, hope and aspira- 
tion- To survive and succeed 
in the tough, fast- moving and 
fast-growing world of com- 
mercial aviation, we depend 
as much on enterprise as on 
innovation. 


At a time when many 
international airlines have 
been losing money, PIA 
continues to expand both in 
terms of fleet and routes, 
adding new destinations to its 
network, increasing its 
revenue and posting greater 
profits. 

PIA has nearly doubled its 
revenues and brought about a 
tenfold incease in profits from 
Rs.70 million in 1980-SI to 
the Rs.700 million it achieved 
in 1983-84. 


Will to Succeed 


From 1954 to 1985 is a 
story of three decades of 
relentless effort, imagination 
and enterprise reinforced by a 


commitment to excellence 
nnH a determination to 
succeed. The airline today 
symbolizes Pakistani enter- 
prise and reflects a dynamism 
that is the pride of Pakistan. 

Profitability, though very 
welcome and essential for the 
survival and growth of an 
airline, however, is not the 
only consideration in PIA. 
Being a national airline, PIA 
is ever mindful of its role in 
the development of Pakistan. 

Be it linking of remote and 
inaccessible coastal towns 
or providing the life-line to 
the snow-bound Northern 
Region, be it the induction of 
modem technology in 
Pakistan or the introduction 
of Pakistan skill and enter- 
prise abroad, PIA has never 
failed to spread its wings. 

Having set the trend for 
modernisation in Pakistan, 
PIA has kept pace with 
technological developments in 
the industry, achieving many 
a first on the way. PIA today 
is the first Asian airline to 
order the brand-new Boeing 
737-300. 

Over twenty years ago, PIA 
became the first non-com- 
munist airline to fly to the 
People’s Republic of China - 
not merely another PIA land- 
mark but a major interna- 
tional aviation breakthrough, 
the opening of China. 

And 16 years ago, PIA 
helped bring about another 
international breakthrough - 
the first mafor contact 
between the United States of 
America and the People’s 
Republic of China. Cloaked in 


absolute secrecy, a Pi* 
Boeing flew Dr. Henry 
Kissinger from Islamabad to 
Beijing. That was history in 
the inking again. 

PIA, docs mat rest on past 
laurels. There is a continuous 
effort for the better, "Effective , 
management, always, of. sp^, j 
dal concern to an organic J 
don with the scope and size of 
PIA, is currently under scrut- 
iny again. 

The airline's steadily 
improving performance since 
mid *Si is an indication that 
administration has been 
geared up and the whole 
complex organization j$ 
functioning more smoothly. 

On the international scene, 
PIA are looking towards and 
working - For greater 
cooperation and coordination 
between not just the Asian 
airlines but the airlines of all 
developing countries. On our 
part, PIA has helped train, 
airline personnel from many 
developing countries and 
continue to do so at our 
modern training centre. 

Wherever possible, PIA 
will try to meet the needs of 
developing airlines for skilled , 
technical staff. This is in 
addition to the training PIA : 
provides to their employees at 
all levels. 

In a world where size 1 


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matters, the operations of’ 
airlines of developing ' 
countries based on a pooling ' 
of resources' present a great 
potential which, if exploited - 
imaginatively, could open up 
new vistas of growth and 
expansion. 


Medical Supply Branch 
of Guangdong CNC 
goes Independent 



Spokesmen for the Medical Supply division of 
Guangdong’s China National Chemicals Import- and 
Export Corporation branch said that as of 9th March 
they have been established as an independent trading 
entity due to their increasing importance and size. The 
division is presently broken into four departments: 
patent medicine, pharmaceuticals, medical equipment 
and clini cal supplies. 


L * V K T ’ * 


The medical supply 
division is a trading and 
manufacturing operation, but 
does no research of its own. It 
does influence the direction of 
research, however, as the 
organization responsible for 
marketing and commercializ- 
, ing laboratory products. 

The medical supply 
division has nothing to do 
with Chinese traditional 
herbal medicine, spokesmen 
caution. It is rather a modem 
pharamceudcals house that 
handles about 1 1 categories of 
prepared drugs such as 
antibiotics, sulfonamides, 
antipyretics and analgesics. 


vitamins, sedatives, biochem- 
icals, steroids, and special 
feed grain chemicals, etc. 

Products currently in high 
demand are Hesperidin 
Methyl Chaicooe, derived 
from mandarin oranges. It is 
believed ro prevent high 
blood pressure, arteriosclero- 
sis, scurvy and nose haemorr- 
hage. Division spokesmen 
note that, according to the lit- 
erature of other countries, it 
can also help in the preven- 
tion of gastric ulcers, treat the 
symptoms of dropsy, and 
some allergies. It is also an 
ingredient in certain medical 
cosmetics. 





Testing Laboratory of Guangdong's China National Chemicals 

Corporation. - - 

k- ru:— VTo« 1 Photo; Xinhua News Apacy 


The China National 
Chemicals Import & Export 
Corporation was founded in 
1950. It is the first 
import-export corporation to 
have been established in the 
area of south and central 
China, with its head office in 
Guangzhou. Besides export- 
ing pharmaceuticals CNC 
Guangdong handles over 100 
individual chemicals and has 


about 10 products in rubber • 
and latex line of goods, in- 
cluding various kinds of 
hoses, working gloves, rubber 
car mats, etc. It imports - 
chemical materials, pigments, - 
dyestuffs, reagent chemicals, 

pharmaceuticals, medicines, 

medical instruments and sup- 
plies, rubber products, plast- .. 
ics and agricultural chemicals. !)3CK T 63 1% 



Austria’s Voest-Alpine 
pursues five major 
Far East Markets 


V oest-Alpine AG Finafindustrie, die finished 
products division, is known mostly for its 
processed steel products. Its production in the 
1970s was redirected from medim and heavy 
machinery towards precision and automation 
engineering and a concentration on five major areas in 
Far East markets: hydro-electric power plants, mining , 
transport and handling equipment, machine and 
precision technology, <ril and gas field equipment, 
machine and precision technology, oil and gas field 
equipment and services. 


Li the hydro-power area, the Voest-Alpine bulb 
turbine has wide appeal for use on river power stations 
due to its combination of high efficiencies, short 
construction time, and relatively small size - which 
enable the building of smaller powerhouses for the 
turbine and a less obtrusive presence in foe 
countryside. 


Power station components 
from Voest-Alpine are already 
in use in the Philippines, 
India and Taiwan. Compon- 
ents and complete stations 
have been sold to the Philipp- 
ines for its Magat River Pro- 
ject at the Agus I station and 
the Maramag -Pnlangi IV stat- 
ion on Mindanao. In India, 
they have provided the mech- 
anical equipment for the Pan- 
chet Hill pump storage station 
and components for Taiwan 


hydro-power stations. 

Austria has a long history of 
mining and in the production 
of associated equipment for 
both tunneling and open pit 
operations. Valuable lessons 
learned in developing their 
own difficult to reach deposits 
have been the basis for creat- 
ing high standards of mine 
products, service and engin- 
eering. For instance, their 
AM 50 Alpine Miner, one of 
four in series, is a selective 


cutting machine designed for 
operation in medium hard 
rock up to an unconfined 
compressive strength of about 
11,200 psi. It can excavate a 
wide range of rock formations 
encountered underground 
and has been used in both 
mining and construction in- 
dustries. 

Transportation of heavy 
materials is a standard re- 
quirement of the mining ia. 
dustxy and Voest-Alpine has 
developed automated convey- 
ing and handling installatio ns 
based on its own experience in 
mining and steel plants. Auto- 
mation has also played an im- 
portant role in the develop- 
ment of their machine and 
precision technology. For 
over 30 years they have manu- 
factured tool machines for 
both cutting and non-cutting 
applications. By using mod- 
ule-type construction tied to 
highly computerized hier- 
archies of controls, Voest-Al- 
pine engineers claim to have 
found the answer to batch 
production of discrete parts 
that has always eluded contin- 
uous flow product fabricators 
like carmakers. Their “fac- 
tory of the future” is built 
upon unmanned third shift 
operations, for instance - the 
infamous ‘graveyard shift” 
made a thing of the past. 

Nuclear reactor compon- 
ents and other equipment for 
nuclear and conventional 


power stations are the special- 
ities of the company’s steel 
and apparatus construction 
department - the largest of its 
kind in Austria and among 
the best known in Western 
Europe. Their seven major 
markets are defined by their 
high stress conditions and re- 
lated safety concerns: 
conversion plants, heavy oil 
hydration, methanol plants, 
ammonia plants, coal upgrad- 
ing plants, conventional and 
nuclear power stations, and 
any plants with high tempera- 
ture and pressure require- 
ments. 

Through its VEW subsid- 
iary, which produces the SBS 
brand of oilfield equipment, 
Voest-Alpine has 30 years of 
experience in the oil and gas 
industry. They also work in 
cooperation with OMV 
group, the fully integrated oil, 
gas and petrochemical group 
of Austria, to provide well- 
head equipment such as high 
pressure valves. - Voest- 
Alpine’s long-term' strategy is: 
to combine Austrian exper- 
ience with technology from 
the United States and they al- 
ready have joint manufactur- 
ing agreements for drill bits, 
electric submersible pumps 
and complete drilling rigs. 
Related services indude the 
provision of petroleum engin- 
eers for consulting on pro- 
duction and reservoir engin- 
eering problems. 


rcrease effi 
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For over one thousand years the area of Guangdong Province has been 
famous in China for its porcelain and pottery. 


Guangdong Ceramics Company is a trading and manufacturing company 
which is responsible for research, manufacturing, domestic sales arid the 
export marketing of ceramics products from Guangdong Province. 

Available for export are: ceramics for daily use: art pottery 
and porcelain: garden items, and building as well as industrial 
porcelain products. A 

Guangdong Ceramics Company is 
also interested in the importation of 
technical materials for ceramics, fuel, 
equipment and appliances related to 
the production of ceramics. 


m 


For more information contact: 
GUANGDONG CERAMICS. COMPANY 
No. 57. Zhanqian Road, Guangdong. China. 
Cable: CERAMICO GUANGZHOU 
Telex: 44269 GDCCO CN 



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Page 15 


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Hutchison looks to build 
a China profit Center 

3 NE of Hong Kong's most profitable trading houses is poised to 
expand into China during the next few years. 

Hutchison Whampoa Ltd (HWL) has been involved in the growing 
rina market for several years and the confidence engendered by the 
ccess of the 1997 agreement has encouraged its Chinese ambitions. 

As Hutchison Group Managing Director Simon Murray is quick to point 
it, the Hutchison China Trading Division has undergone a dramatic 
pansion since Simon To was appointed Managing Director in 1980. 

“We now have 42 people in Beijing, Guangzhou, Shanghai and Hong 
ong who are actively involved in seeking opportunities and participation 
r group members and their agencies,” Murray explained. 

“They’re also acting independently to develop two way trade and 
vestment opportunities between China and the industrialized world on 
eir own account.” 


qF 


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MM. 




iv> : 


Mr. Simon Murray 
Group Managing Director, Hutchison Whampoa Ltd. 



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fn order to meet the diverse 
mands of the Hutchison 
oup divisions while 
aultaneously concentrating 
building up China trade as 
profit center in its own 
hi, Simon To has split his 
mpany up into Consumer, 
nscrucdon. Industrial and 
lergy/Aviation/Hotel Sup- 
es sections. 

“The first three divisions 
-acennate on handling such 
jigs as Chinese canned food 
aducts, the manufacture of 
:e creams in Shanghai and 
: importing of steel for 
irketing in Hong Kong,” 
> explained. 

While this is obviously a 
.y element of the China 
■ade Division’s business, 
e rapid development of the 
WL Group's own expertise 
the China market opens the 
for HCTs expansion, 
e’ve already made some 
satisfying gains in several 
areas and have won 
□tracts for supply of 
[shore logistical support 
steins and technology to the 
coal industry,” To 

pealed. 

Aviation division 
presents agencies such as 
w Lockheed Georgia, 
xospatiale Helicopter Di vi- 
sa, Domier aircraft and 
ed DHX aircraft as well as 
e leasing of Heii Union of 
-ance and Schreiner of Holl- 
d helicopters and STOL 
.■craft operators. 

“We’re also currently 
rvelopmg a joint venture air 
rgo company with 
fcAC-Shanghai, Airborne 
id DHX though the fruits of 
ris won't be seen for several 
ars yet," To said. , . 

The Hold Supplies 
partmeni markets building 
aterials, furniture, fixtures 
id equipment to hotels and 
fice buildings. 


it 


“I think our investment in 
long term credibility through 
office expansion and an 
increase in personnel has 
already paid off,” To added. 

“The real profits will be 
made during the next decade. 
1 believe our position as the 
only China trading company 
with strong Hong Kong 


With more than 90% of its 
activity and its assets in Hong 
Kong, Hutchison has pros- 
pered during the past two un- 
certain years with post tax 
ear nings now exceeding US$ 
120 million on a recurring 
basis. 

“Although other trading 
companies have diversified 



South China Sea Oil Rig, the Jim Cunningham, under repair at 
Hutchison's Hong Kong United Dockyards facility. 


Chinese control will enable us 
to build on this foundation.” 
While this ties in neatly with 
Hutchison's China philo- 
sophy of “specializing to 
build a reputation for profes- 
sionalism in fields such as off- 
shore oil services, aviation, in- 
dustrial catering and engin- 
eering”, it doesn't mean that 
the company is leaving Hong 
Kong. 


Photo: Hutchison Whampoa Lid. 

geographically in the last few 
years, we’ve concentrated on 
our traditional businesses in 
Hong Kong and withstood 
the temptation to move 
offshore," Simon Murray 
noted. .. 

Although HWL has no 
definite plans to invest in 
China, Hutchison's recent 
stock market activity will 
ensure that the Group 


continues to be securely based 
in Hong Kong. The trading 
concern successfully acquired 
34% of Hong Kong Electric in 
a HK$2.9 billion (US$5371 
million) deal which provides 
the Group with quality 
recurring profits. 

A steady performer whose 
consolidated group profit 
increased by 19% from 
HK$782 miDion (US$100 
million) to HK$934 million. 
(US$210 million) in 1983, 
Hong Kong .Electric is 
expected to become even 
more profitable in coming 
' years as economic recovery 
comes to the territory. 

The electric utility also has 
mechanical engineering, 
property, retail, contract 
sales, export and ceramic div- 
isions that complement 
Hutchison's own diverse in- 
terests. 

“Many of HWL’s opera- 
tions win be strengthened by 
the acquisition of a significant 
share of a large, well managed 
and easily identifiable com- 
pany such as Hong Kong 
Electric,” Murray said. 

Speaking of Hutchison 
Group’s property division, 
Mr Murray stud, ‘The 
commercial areas of housing 
estates such as Aberdeen 
Centre, Hunghom Bay Centre 
and Provident Centre which 
the group has developed, 
together with prime office and 
industrial buildings, provides 
a rental income of over 
HK$300 million (US$38 
million) per year”. 

Recently the HWL Group 
confirmed a US$400 million 
investment program for the 
redevelopment of the 
Hunghom dockyard. 

“More than 11,000 
residential apartments will be 
constructed on the site over 
the next six years, which 
should provide a sound 
income on an annual basis as 
each stage is developed, 
Murray noted. 

This expenditure is 
matched by the amount of 
investment Hutchison is 


Black Tea” Growers 
' increase efficiency 
with “Big Leaf” plants 

ite “Black Tea” of Guangdong Province has been as 
ilored to Western tastes, since the mid-17th century, 
have the export porcelain cups from which 
iropeans sipped its brew. Guangdong’s warm climate 
id relatively low elevations have made it well-suited 
meet the demands of an international market for 
as that take milk well and are full-bodied. Besides 
ocessing teas grown in the area, Guangdong 
ctories handle the Yingteh Black Tea of Yingbe 
wuuy to the north and a black tea from Hainan Island 
the south. 


All the tea in China is the 
me, until it’s processed, 
samakers talk like vintners 
hen they start to describe 


the subtleties of their 
products, but there are three 
basic teas that result from 
controlled drying and 


fermentation: green, oolong 
and black. Broken Orange 
Pekoe is a fine cut black tea 
that has become a Western 
standard. Guangdong's - gar- 
dens growing this variety have 
a picking season from March 
through to late October. 
Cooler northern areas get 
their first flush harvest in 
about April until late Sept- 
ember, when the last and us- 
ually best harvest of the year 
is made. Picking in Hainan 
goes on 11 months a year. 

Until the late 1950s, 
Guangdong specialized in 
small leaf expons of 
“Congou” teas. These fine tea 
leaves were once hand rolled 
and their name comes from a 
misprono imria non of the 
Chinese renn meaning “much 
work”. Less work for greater 
gains explains why provincial 


draftsmen put Plant Life to Work 


hina's largest maker of artificial . flowers, the 
uangdoug branch of China National Arts & Crafts 
upon & Export Corporation, draws on its province’s 
aitage for creating home decoration products from 
mire. Flowers in native silk, polyester and plastic 
squire the sensitive transformation of floral beauty to 
it limitations of a production line. 


* ■ 



Rattan furniture and 
nischold effects from 
ondry baskets in the form of 
ygs to baby cradles have 
ng been de rigeur among 
signets for the light tropical 
(A- In south China, the 
■miner sleeping mat and 
How are part of the 
■coutremems for keeping 
K)l. 

Grandmothers and aged 
jusekeepers in Asia will also 
U you that the older it is, the 
.‘Uer a rattan mat becomes. 
Western “ Chinoiscries " in 
e 18th century would not 
»ve been complete without 
i rage for imitation bamboo. 
i» uropcan designers struggled 
f v ■ get the look of this 
’ lost-honored Chinese tree 
/fkiw i heir native timbers, with 
^™ing success. Thomas 
ppendak based many of 
designs and decorative 
Rentes on bamboo, as did 
any more furniture makers. 


Bamboo has always held an 
honored place in Chinese 
society. Its qualities of 
simplicity and uprightness are 
considered the two most 
important attributes of the 
true gentleman, and the plant 
has long symbolized refine- 
ment and strength of char- 
acter. 

Palms were first introduced 
to Guangdong in the. 4th 
century. They took root in 
Xinhui county which has 
since been known locally as 
“palm country”. By tying 
stems and leaves together, 
dwarf palms are created to 
become the raw material for 
onats, hats, bags and baskets. 

Sea grass undergoes an 
extraordinary transformation 
in the hands of G uan g zh ou 
craftsmen. Woven, it makes 
an unusual wallpaper that has 
a natural feel and the 
advantage of sound 
absorbency. Its fine stems 


make for tightly woven trivets 
and handbags. Most unusual, 
craftsmen of Dongguan, 
Sahoqin, Zhiangiang and 
especially Shantou — also 
famous for porcelain and lace 
— use of threads of colored 
straw to piece together small 
pictures that make use of the 
natural sheen and straw 
texture to imitate surfaces of 
leaves and bird's feathers. 

Colored straw is also used 
to make wildly colorful boxes 


growers have increasingly 
switched over to “big leaf’ 
teas transplanted from 
Yunnan Province. They adapt 
easily and offer an excellent 
Orange Pekoe type tea. 
Growers claim they have 
enough “golden tips” to rate 
them among the world’s best 
black teas, usually considered 
to come from places like Sri 
Lanka and India 

“Big leaf 7 tea leaves 
measure in at about 15 by 
5/cm when full grown, versus 
the tiny Congou leaves that 
may be only 5 by 2/cm. 

Guangdong Province has 
long been a region pioneering 
the adaptation of Chinese 
products for export markets, 
and its tea grow e rs have only 
naturally been die first to 
market their product in tea- 
bags for overseas sales. 


in the shapes of butterflies 
or with unusual landscapes 
and designs by methods 
reminiscent of folk artists in 
America who build cathedrals 
and the like out of wooden 
matches. To create these 
patterns and collage effects, 
each piece of straw is slit 
down one side with a razor, 
then soaked in warm water. 
After being ironed dry, the 
flat ribbons of straw are glued 
side by side onto a sheet of 
paper. These can be cut and 
shaped before being glued to a 
box to make an array of 
designs. 


Hong Kong's only 
hotel with a 
China connection. 


Just a few minutes walk from Kai Tak airport by 
airconditioncd walkway, you'll find a hotel with first 
class facilities plus a specialist China Team. 


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For mnvaiiim. oxHiH y«**i travel »W u4n o» u HOM&A HX . 


making in its two container 
terminals, which handle 
together about 45% of the 
total throughput of the 
world’s second largest 
container port. 

“We are arguably the 
largest private container 
operator in the world, 
handling over 800,000 TEUs 
or twenty foot equivalent 
units per year,” Murray 
explained. 

In the foreseeable future 
the Group will decide whether 
or not to spend US$250 
million plus on extensions to 
tiie container terminal to meet 
anticipated growth in 
demand. 

“We believe that this could 
be a sound investment in 
Hong Kong's future, 

particularly as the draft 
agreement with (!hina 
specifically provides for the 
container port to remain in 
tiie private sector,” Murray 
said. Many of the containers 
handled by the terminals are 
destined for major importers 
and wholesalers in Hong 
Kong such as John D. 
Hutchison Trading Limited, 
which represents many 
brand-named products on an 
exclusive agency arrange- 
ment. 


The best 
business help 
in Hong Kong 
and China 

Word processing 
Total office and 
employment services 

SULLIVANI 

M3B Baskervillr House 
13 Ihiddril Si reel 
C'cRlral 
I long Kong 
5-222202 5-265046 


It’s said that every 
household in Hong Kong uses 
some product handled by 
John D. Hutchison every day, 
many of which are retailed 
through the HWL group’s 
A. S. W atson subsidiary. 

HWL operates the largest 
chains of supermarkets in the 
colony through some 96 
Parfc’N Shop supermarkets 
and 34 Watson's stores, 
together with a 

manufacturing arm producing 
soft drinks and foodstuffs. 
Watson's has already made a 
tentative move into China 
through the supply of 
beverages and ice creams. 

Hutchison’s quarrying 
interests are well established 
as a supplier of aggregate, 
asphalt and ready mixed 
concrete to the local 
construction industry. 


“Unfortunately there has 
been a general down turn in 
the construction industry 
lately, but the company has 
secured long term contracts 
for such projects as the Mass 
Transit Railway system, 
which has enabled it to ride 
out the difficulties,” Murray 
added. 

Looking further ahead, 
Hutchison has made its initial 
foray into the hi-tech future 
through its investment in a 
new company, Hutchison 
Telephone Company Limited. 

"It is a new venture with 
Motorola and Distacom 
Communications in which we 
have 51%. Hutchison Tele- 
phone will offer a public mob- 
ile and portable cellular tele- 
phone service to Hong 
Kong,” Murray explained. 

Add to this Hutchison's 


substantial minority interests 
in Hong Kong’s South China 
Morning Post Newspaper, and 
Sheraton Hotel, and a clear 
portrait of a solid, well 
managed and diverse group 
emerges. 

“Our fundamental strength 
lies in our operational 
management at the working 
level and the group's 
adherence to the businesses it 
knows well in the 
environment it knows best." 
Murray concluded. 

“Given this strength we can 
look to the future with great 
confidence, particularly in the 
Chinese market which is 
ready for business and whose 
open door policy has provided 
a welcome incentive for Hong 
Kong based traders such as 
ourselves.” 


Shorts are proud that the Civil Aviation 
A d m i nis tration of China have purchased 8 of 
the world’s highly successful wide-bodied 
regional airliners to serve areas of new 
economic development and priority of the 
People’s Republic of China. 

Fuel-efficient, 

cost-effective 


SHORT BROTHERS PIC -Far East Regional Offica 2nd Floor, Elizabeth House. 250 Gloucester Road. 

Causeway Bay, Hong Kong. 

SHORT BROTHERS PtC-PO Box 241, Airport Road. Belfast BT3 9DZ, Northern Ireland. 
Telephone 0232 58444. Telex 74688. Telegrams Aircraft Belfast. 


THE-GARDEN-HOTEL-GUANGZHOU 


■ ■ M V 'W. 


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... “S. 



There’s a new centre for business Now open 
at the gateway to Southern China. 

The GaidenHotel,Guangzhou (Canton). 

China 's 

largest international hotel and office complex. 

The Garden Hotel will have over 1,1 00 luxurious 
rooms and suires, as well as 1 5 superb bars and 
restaurants. It will boast a fully equipped business 
centre and convention facilities for up to 1,400 
delegates, plus a swimming pool, health club, tennis 
and squash courts. 

The Garden Hotel is managed by The 
Peninsula Group. With a hundred year _ 
heritage of dedicated service to business A 

and pleasure travellers to the Orient, we 
taow how to make /Qvjhe Fteninsula Croup 
y6ur mp live up to \^R^Bng^pnmtbecflh^Orwnt 
all your expectations. 

BocrvuioMT Cbntaa your irarel agent. Cathay Pacific Hotel Reservations Service. 

SRS (Sreigenbeiger), The Peninsula Group, Hong Kong. 

The Peninsula Group of hot els are located in Hong Kong, Singapore. Manila, Bangkok, Beijing and Guangzhou. 

GKG-IHT{C 5 ) 








I luI 515**1* 5155—' L'EWSs* 


r 


Page 16 


SPECIAL ADVERTISING SUPPLEMENT TO THE INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


Meridien Airport Hotel 
plays a China Card 


Hong Kong has built its business reputation on being a 
compact city. For that reason alone, notes Michael 
Novatm, General Manager of the Meridien Airport 
Hotel, ‘’an airport hotel is not needed just because of 
distance from town.” It was the apparent contradiction 
of good business sense alien the hotel was built 2JS 
years ago that made it the butt of local jokes. “We were 
laughed at, pushed around and jeered at for bnilding a 
hotel in a squatter area,” recalls Nova tin. 


There are few things 
sweeter than the last laugh, 
and Michael Novatin has had 
it. His hotel runs at 90% 
occupancy 2.5 years after its 
opening, has what he claims is 
an 80% business traveler 
clientele with 1 J00 commerc- 
ial accounts and a ranking 
right after the Mandarin and 


questions about traveling and 
doing business in China that 
we couldn’t answer,” says 
Novatin. First he brought in 
Riggs Business Service 
Centers to assist hotel guests 
and answer questions. Then 
he issued a small booklet, The 
China Connection Directory. 
Five thousand copies were 


r 




View of the Regal Meridien Hong Kong Airport Hotel shooing 
footbridge linking it to the atrport,zolnch features moving luggage racks 
and porters loeliminau the need for baggage handling by guests. 

egent among business- gone in three weeks. It took 
»ple. no genius to recognize a pent 


Regent among business- 
people. 

Last year Novatin noticed 
that he had a high percentage 
of oil company staff and other 
China traders staying in the 
hotel. “They kept asking 


up demand for information 
for China traders. 

It does take a certain genius 
to turn a losing proposition 
around, which is what 


Michael Novatin intends to 
do with a floor of empty 
shopping center space in his 
hotel. The original owners 
thought there would be 
spillover shoppers from the 
airport. 

A combination of 
over-optimistic rent rates, 
depressed property market 
and a resistance to leave the 
terminal on the pan of casual 
shoppers left a lot of empty 
spaces in the Meridien 
Airport hotel shopping malls. 

Why not create a China 
Trader’s Center in the unused 
spaces, thought Novatm. So 
he cleared a budget of HKD 3 
milli on to redesign the Boor 
into private office spaces for 
rent. Riggs Business Center 
will be there, as will a small 
conference room, business 
center, exhibition area, 
medical clinic and health 
chib. Facsimile machines will 
be available, popular for 
Chin ese and Japanese 
languages as well as English, 
and translators will be on call 
for Mandarin and Cantonese 
requirements. 

“By the middle of March, 
we will have an entire floor 
of this hotel completely 
convened and geared to the 
business market of China,” 
claimed Novatin in a 
February interview. 

Other Hong Kong hotels 
have built their business 
clientele on the garment trade 
in Kowloon and the financial 
center in Hong Kong’s 
Central district. Meridien 
Airport Hotel means to look 
into the important business 
sector built upon China's 
“open door” policy by offer- 
ing better access to the China 
trade. 


Art and Automation 
meet in the making 
of “Chinaware” 


Art and automation meet in the form of the Guangdong 
Ceramics Company. Under China’s reorganized export 
business sector, the company has become an 
integrated trading and manufacturing complex that 
brings together everything from ceramic bathroom 
tiles to hand-crafted Shhvan pottery figurines still 
baked in a Song dynasty “Dragon kiln”. - 


Guangdong Ceramics 
Company’s unique brief is to 
keep one foot in the past, 
providing the needs of such 
artisan cottage industries. Its 
foot is planted firmly in the 
present, providing for auto- 
mated manufacturing of din- 
ner-ware in up to 45-piece sets, 
outdoor ceramics for use in 
gardens and architectural 
applications, and industrial 
porcelains. Guangdong cer- 
amics imports technology, 
fuel, equipment parts and 
appliances to feed these auto- 
mated production lines which 
supply both domestic market 
and export requirements. 

Shi wan 

Shrwan is a suburb of the 
provincial capital, Guangzhou 
(Canton), and its sculpted 
ceramic figurines are among 
the premiere craft products of 
south China. Between the 9th 
and 13th centuries. Song 
dynasty leaders waged a 
r unning battle against 
conquest by the Jin kingdom, 
and were eventually driven to 
the far south. 

Guangzhou 

Best known in the West are 
products of “Guangzhou 


Decor”, as the hand-painted 
decorative dishes, teawarcs 
and vases of this provincial 
capital have come to be 
known. Decorative porcelain 
is a recent innovation by 
Chinese standards, created 
about 200 years ago during 
the reign of Emporer 


Yongzheng in the Qing 
dynasty. 

What makes Guangzhou 
Decor so eminently decorat- 
ive is that the painted enamel 
motifs are always enriched 
with gold lines, which gives 
them the look of tapestry. 
The effect is achieved by 
painrin g in fired porcelain bis- 
cuits with colour glazes and 
gilt followed by refiring to 
seal them, and the amount of 
gold used in a given design is 
an important price determin- 
ant. 

Shantou/ 

Gaopi 


Shantou has been among 
the three great centers of 
ceramicists for over 1 ,200 
years, since the Tang dynasty. 
Since the 16th century, most 
production has come from 


Fcngxi, a suburban townlcl in 
Chao’an county, for the 
simple reason that the major 
raw material of porcelain, 
high grade kaolin, is as 
available there as common 
soil. It is today a major center 
of underglazc bluc-on-white 
reproductions in the Ming 
dynasty style and its own 
carved vases, which apply a 
repousse technique to create 
intricate woven patterns and 
figures reminiscent of lacc 
into the body of porcelain 
vases. 

Gaopi, in eastern Dabu 
county, is second only to 
Fengxi in the quantity of 
porcelain produced and its 
antique reproductions in the 
difficult to control umici-glaz- 
ed-red technique are consid- 
ered to be among the best of 
their kind in China. 


ChlnaVfirJ 

Western^^' — 
Secretary 

"China U wideopcrfS!^' ' 
enthuses Margaret Sullh/^ . - ~ al VL tt* 
"every one needs help ft njth'f OH ** 
and wc can provide ^ j f I * 1 

Sullivan claims .. -.t. 

established record of an* » \V It** 
ax placing temporary 

permanent secretarial staf^l 


China, her Hong Kong b* 
agency has become a ieadc 
the business of sen, 
businessmen. They now Q 
word processing, camp 
off-shore office (walk 
instant report processing fi 
tapes provided by visit 
delegations or China-bi 
traders and, of course, ti 
mainstay: providing pm 
sional secretaries as requir 


•{ • 

i i 




jflirtrt iff - 


First even today. 


: lirl 


u-nw if * 



Twenty-one years ago, we accomplished a 
sensational first in international aviation . . . 
PIA’s trail blazing commercial air-link 
with the People's Republic of China. 

Many others hive followed since. But the 
passage of tzcn&notwkhstandmg, PIA 
remains the first choice to Beij'ing even 
today. Not only with its express, non-stop 
flights but also with the warm, friendly 
reception they get in China. The best even 
today. 


The pioneering link established over two 
decades ago has revolutionised the world 
scene in a qualitative sense. And paved 
the way to greater understanding and 
mutual respect between China and the 
rest of the world. 

Get to know the pioneers who helped 
bring the world closer to the People's 
Republic of China. 

Fly Pakistan International. 



i: 


» # 


* 

. 

If • »*<■ 


Shorts 360 Aircraft to 
be used in China’s 
Air Transport 
Expansion 


money by filling as few as 13 
seats, or one-third of the air- 
craft’s capacity. 


Successful 


Short Brothers PLC, the 
Belfast aircraft manufactur- 
ers, has confirmed the signing 
of a contract for eight Shorts 
360 regional airliners to ' be 
purchased by the Civil Avia- 
tion A dminis tration of China 
(CAAC), with the possibility 
of further orders. The aircraft 
will be delivered this year and 
underscore. .Shorts’ penetra- 
tion of the Far Eastern market 
following successful use of the 
earlier Shorts 330 model air- 
craft in T hailan d and the new 
360 model in Malaysia. 

China has ambitious plans 
for aircraft and air transport 
development and competition 
among Western companies 
after a slice of its enormous 
aerospace market is intense, 
which has made the sale all 
the more satisfying to this old 
and well-established aircraft 
company - the founders of 
which even produced biplanes 
for the Wright brothers in 
1909. Today, its wide-bodied, 
36-seat model 360 airliner has 
become a commuter airlines 
favorite in the United States 
and elsewhere. 


Shorts notes a number of 
appealing features in their 
model 360 aircraft: Its pur- 
chase price is about 25 per 
cent less than its main com- 
petitors from Brazil, Canada, 
Sweden and Spain. Its turbo- 
prop engines exceed all inter- 
national noise limitation re- 
quirements. It has the most 


Model 360 entered service 
in December 1982 and has al- 
ready been adopted by 20 air- 
lines worldwide for short-haul 
service, wherein as many as 
20 flights per day in all 
weather conditions may be 
operated, in a wide variety of 
environments. Ease of main- 
tenance and quick-turna- 
round capability are required 
and it’s likely that the record 
of the earlier model 330 
influenced the purchase 
decision. That aircraft has 


Ik 


Eight of these Shan Brothers Model 360 turboprop commuter atrlmers 
will be used by CAAC in ike new economic zones. 


fuel-efficient performance of 
any aircraft in its field. Be- 
cause of it, the plane’s 
break-even load factor beats 
the opposition with ease. 
Shorts claims some operators 
of the model 360 can make 


achieved a 99% in-service 
despatch reliability record. 

It is a testament to the 
Shorts model 360 combin- 
ation of price appeal, econom- 
ic operation, ruggedness and 
versatility that it was chosen 


for use in some of the new 
areas of economic develop- 
ment around coastal dries and 
special zones in the south of 
China. A large number of 
commuter aircraft spanning 
the 40-150 seat range will be 
needed by the smaller region- 
al airlines which are expected 
to spring up with the intended 
decentralization of CAAC al- 
ready announced. The break- 
up of the state airline is ex- 
pected to dramatically alter 
the course of aviation in 
China. 

Tourism is increasing at 
exponential rates, as are the 
requirements for transport 
aircraft and those employed 
in resource development (eg 
forestry, crop- spraying, 
mapping, remote sensing). 
CAAC reportedly operates 13 
different aircraft types in 18 
provinces just for resource 
development. Regional ad- 
ministrations mav well want 
to update older aircraft types 
as well as expand operations; 
all of which bodes well for 
Short Brothers, whose rugged 
model 360 is built with a 
design objective to achieve a 
safe fatigue life of at least 
40,000 flights and can be 
transformed from a passenger 
. to cargo aircraft in as little as 
25 minutes. 

All of this translates to a 
large near-term demand for 
aircraft for which Short 
Brothers now enjoy an inside 
track in helping to fill. 


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** 


Guangzhou’s Paint Brush 
business bristles 


Although figures were not 
available, spokesmen for the 
Guangzhou office of the 
China National Native 
Produce and Animat By- 
products Import and Export 
Corporation claim they are 
doing a bristling business 
with their “three star” brand 
lines of paint brushes. Other 
product lines of the Guang- 
zhou office, which takes pains 
to clarify that it is on an equal 
footing with the Guangdong 
provincial office of the same 
organization, include leather 
shoes, down and feather prod- 
ucts, Angora white rabbit hair 
and leather garments, pig skin 
products, gloves and furs. 

As explained by company 
spokesman, the Guangzhou 
dty office reports directly the 
Beijing headquarters, as does 


the Guangdong provincial 
office of the same organizat- 
ion. Guangzhou is also the 
main source of materials, 
though some imports are 
mad e. Certain materials are 
rationed by the government, 
but company spokesmen 
maintain that there’s never a 
shortage for production re- 
quirements. Major trading 
partners are in Hong Kong 
and Macau, but the pure 
Chinese bristle brushes of the 
Guangzhou office also are ex- 
ported as far afield as the 
Middle East and the United 
States. 

The company hopes to 
penetrate more markets and is 
currently looking for new 
partners to develop a leather 
factory and the production of 
handbags. 


FOR MORE INFORMATION 
ABOUT CHINA 

Just complete this coupon. 


Indicate below the subjects on which you would like to obtain more infonnation 


i “ •’ ■+■* M* • 

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The International Herald Tribune will be pleased to 
pass on requests for more information to the 
advertisers in this Supplement and to the appropriate 
authorities in China’s 14 Open Sea Coastal Cities; 4 
Special Economic Zones, Hainan Island; 3 Coastal 
Delta Zones, and Interior River-Coast Cities with 
special status. 


14 Open Sea Coastal Cities 
DALIAN 

QINHUANGDAO ' 

TIANJIN 

YANTAI 

QINGDAO 

UANYUNGANG 

NANTONG 

SHANGHAI 

NINGBO 

WENZHOU 

FUZHOU 

ZHANJIANG 

BE1HAI 

HAINAN ISLAND 



f*\ CiOWHUANOOflO 

* v \ IUSALIAN 

N. 1 / / S ^-' > \^e-wrw 

'. > l f ( “ 

) i } t 1 /““'j i.omcdmd 


• Shw W. 


4 Special Economic Zones 

XIAMEN 

SHANTOU 

SHENGZHEN 

ZHUHAI 


Interior River-Coast Cities 

Shenyang 

Wuhan 

Chongqing 


. I , -v UANYUNGANG 

, ^ r \ v _ 

\ ''s ( J / ,/\NAWTONG 

{ .V<Un y-* -SHANGHAI 

\ ( .r ->, 1 NINGBO 

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\ ^ WENZHOU 

> '■•js \ / -i FUZHOU 


'v ./ 1 WINGBC 

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V f\ v ; J 

\ J / f V^: WBCHOU 

\ / 'i FUZHOU 


3 Coastal Delta Zones 
Pearl River 
Yangze River 
Minnan River 


.*..J 


y-K 

s .1 


- SEfilAJ J .J 


★★ 




I J HAINAN ISLAND 


RETURN THIS COUPON WITH YOUR 
BUSINESS CARD Ta 

Mr. Stephen Hutton 
Deputy General Manager 
Asia-Pacific 

International Herald Tribune 
1005 Tai Sang Commercial Bldg 
24-34 Hennessy Road Hongkong 


List of Advertisers 

— Aerospatiale 

— American Express International Inc. 

— China National Arts & Crafts Imp. & Exp. 
Corp- Guangdong Branch 

— China National Chemicals ImpJExp. Corp., 
Guangdong Branch (Medical Supplies) 

— China National Ught Industrial Products 
Import/Export Corp- Guangdong Branch . 

— China National Machinery import & Export 
Corp., Guangdong Branch 

— China National Native Produce and Animal 
By-products Imp. & Exp. Corp., Guangdong 
Animal By-Product Branch, Guangzhou Office 

— China National Native Produce and Animal 
By-Products Imp. & Exp. Corp-, Guangdong 
Native Produce Branch 

— China National Native Produce & Animal 
By-Products Import & Export Coqx, 
Guangdong Tea Branch 

— China National Native Produce and Animal 
By-Products Imp. & Exp. Corp- Guangdong 
Animal By-Products Branch 

— China National Textiles imp. & Exp. Corp., 
Guangdong Branch 

— The Garden Hotel 

— Guangdong Ceramics Company 

— The Hongkong & Shanghai Banking 
Corporation 

— Hutchison Whampoa Limited 

— The Jianguo Hotel 

— Margaret Sullivan Secretarial Service & 
Employment Agency 

— Regal Meridien Airport Hotel Hong Kong 

— Pakistan International Airlines 

— RLC Services 

— Short Brothers PLC 

— Voest-Alpine 

— China Special Advertising Supplement. 

"Trade & Investment in China”. 11th Sept., 
1985. 

Please send me advertising rates for this 

feature. 


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Page 16 


INTERNATIONAL HERALD TRIBUNE, FRIDAY, MARCH 29, 1985 


** 


B 

1 

2 

3 

6 

S 

fi 

1 

7 

B 

9 

10 

11 

12 

15 

13 







14 






16 







17 







18 



9 

19 



20 




B 

Z1 



22 



23 

m 

2* 





B 

25 




20 




V 

l 

28 



I 

20 





30 





31 

■ 

32 









PEANUTS 


f H6KH..A ^ 
LETTER FROM 
VOUR BROTHER 
SPIKE.. 


1 PEAR 5M00PV WELL, OUR 
CACTU5 CLUB HAP ITS 


FIRST CftNCE LAST NIGHT " 
-& 


^ACTUALLV THE PANCINfa 
WASN'T# MUCH FUN AS I 
THOUGHT IT WOULPSE../ 



Unscramoie these lour Jumbles, 
one letter to each square, to form 
lour ordinary words- 


ESTAC 


! 

□ 

m 

u 

u 


TAGEA 



□ 

1 1 1 



DWEAMO 


zn 

□ 


□ 


BRYCAB 


r n "i 

r^T — - 



THE MOST 
EFFICIENT 
WATERPOWER 
IN THE WORLP. 

Now arrange the circled letters to 
form the surprise answer, as sug- 
gested by the above cartoon. 


Print answer here: ( J J J X I 


(Answers tomorrow) 


Yesterday s , Answer WhaI th9 p ,n ow fignr m the kids' room 
‘ looked like— "BED-LAM" 


WEATHER 


EUROPE 


HIGH LOW 
C F C F 


ASIA 


HIGH 
C F 


LOW 
C F 


Algarve 
Amsterdam 
Athens 
Barcelona 
Belgrade 
Berlin 
Brussels 
Bactmrest 
Budapest 
Copenhagen 
Costa Del Sol 
Dublin 
Edinburgh 
Florence 
Frankfurt 
Geneva 
Helsinki 
Istanbul 
Las Palmas 
Uibon 
London 
Madrid 
Milan 
Moscow 
Munich 
Nice 
Oslo 
Paris 
Prague 
Rcvklavlk 

Rome is S» 

Stockholm 3 3* 

Strasbourg 5 41 

Venice 8 *t 

Vienne S *1 

Warsaw * 39 

Zurich * T> 

MIDDLE EAST 
Ankara i« s7 

Beirvi 
Damascus 
Jerusalem 
Tel Avto 

OCEANIA 




Ir 

Bangkok 

34 

9? 

26 

79 


2 

36 

sn 

Belling 

? 

48 

2 

36 

ir 

e 

*6 

cl 

Hang Kang 

24 

•’5 

22 

72 

0 

7 

45 

IT 

Manila 

34 

93 

26 

79 

ir 

-1 

30 

sh 

New Delhi 

E 

90 

20 

68 

f r 

0 

32 

sty 

Seoul 

a 

46 

4 

39 

fr 

1 

34 

sn 

Shanghai 

10 

M 

7 

4S 

tr 

2 

36 

ct 

Singapore 

28 

32 

24 

7b 

0 

5 

41 

0 

Tateal 

23 

73 

16 

61 

si 

-3 

27 

o 

Tokyo 

11 

53 

i 

46 

sh 

11 

2 

0 

S3 

36 

32 

f r 

0 

SUV 

AFRICA 

Algiers 

12 

54 

10 

SO 

si 

“ 

— 


Cairo 

za 

b: 

17 

63 

tr 







__ 



_ 





Casablanca 

17 

63 

IQ 

SO 

ei 





26 

79 

16 

61 





Lagos 

11 

86 

29 

82 

a 


S si 
17 63 
I* 57 

II si 

4 3* 
« 3» 
10 50 
1 <5 
I 34 
IB 44 
7 45 

3 3? 

V 48 

4 43 
7 45 

,s * 


14 57 B 44 Ir 


B 

IS 54 
13 55 
I 36 

5 36 

I* 4 1 

I 3* 

6 4 3 

3 37 

-4 21 


Nairobi 

Tunis 


YVbrld Stock Merkels 

Via Agence France-Presse March 28 

Uowifi finer* in Inc ill airman unlw oikennse uuLcaitd. 


ABN 

ACF Holding 

Aegon 

AKZO 

Ahold 

AMEV 

A'Dom Rubber 
Amro Bonk 
SVG 

Buehrmonn T 
Coland Hldg 
Elsevier. NDU 
Fokker 

Gist Brocades 

Meinelen 

Hoooovans 

Naarden 

Nar N odder 

Nediiovd 

Oce Vander G 

Pokhoed 

Philips 

Pobeco 

Roddmco 

Pollncc 

norento 

Poval Dutch 

Unilever 

von Ommeren 

VMF Srork 

VNU 


Close Pri*. 

404 40550 
197 19750 
18650 1 84 

no jo w jo 
715 21470 
215.70 215 

■ ns » in 
74.20 75.10 

215 S17 

88 8750 

JS 3550 
11450 11250 
10440 104.20 
1BSJ0 IE5 
15550 15750 
5650 5880 

58.90 59J0 
47^4) 4770 
7IL20 70 

IBS JO 18350 
312 312 

71 50 44 JO 

59.10 60.90 

74.40 74.90 

1 30.20 138.70 

47.20 4740 

■0.70 44 

19660 177 

140 341 

31 JO 3 3.2) 
152 1*880 
210 Sll 


— — — — no 
17 54 II 57 r 


LATIN AMERICA 


Boenos Aires 
Lime 

Mexico Cllv 


22 77 16 61 

2* 75 IB 61 
28 82 10 50 


37 

20 68 14 57 
17 63 11 57 
17 63 17 54 

21 70 16 61 





Rio da Janeiro 

29 

a* 

18 

64 

Cl 

2 

36 

Cl 

Soo Paula 

— 

— 

— 

— 

no 

-1 

30 

sty 

NORTH AMERICA 



12 

54 

cl 

Anettarooa 

4 


10 

14 

fr 




Alton to 

74 

75 

l? 

S* 

Cl 




Batten 

IB 

64 

7 

4* 

PC 

A 



Chicago 

1# 

64 

9 

48 

r 




D«n»er 

a 

46 

2 

36 

5* 




CM troll 

17 

63 

9 

48 

r 




Honolulu 

26 

IV 

30 

68 

oc 




Houston 

28 

82 

IB 

64 

cl 




Los Angeles 

20 

68 

11 

53 

PC 


buck lend 

Svdnev 


_ 7? 14 
24 75 17 63 


Miami 
Minneapolis 
Montreal 
Nassau 
New York 

San Francisco 

Sc art ib 

Toronto 

Washington 


78 82 19 66 
5 41 2 34 

13 SS -5 73 

24 75 16 «l 
21 ’0 8 46 

14 57 8 46 

9 48 3 17 

18 6* -1 30 
24 75 10 50 


ci-eioudv: lo-iagg/ . ir-loir n-na.i; o-overcosi: ocoarfi. ciouav. r-roin 
sh-snowers. cw-snaw, st-stor m, 

FRIDAY'S FORECAST — CHANNEL: Rauoh FRANKFURT: Cloud/ Time 

b 2 1,6 341. LONDON: O/creasI Temo 9 — 3 i*3 — 37 1 MADRID: Fair 

Temp IS — 5 159 — 411. NEW YORK' Fair Toma. 18 — 10 i«- 50) PARIS: 
Claud » Temp M — 3 152 — 371. ROME : Cwercos: Temp 12 — 13 ■ W — Ml. TEL 
AVIV: Foir Tomo n— Ions — 41; ZURICH: Fair Temo 4-1 i*3— 141 
BANGKOK: FOOOV. Temp 75-27 l»5 — 3l|. HONG KONG: CiOud/ Temp 
2* — 24 175 — 681 MANILA: For Temp 35 — 74 '95 — TJi SEOUL: Fa>r. Temp 
9 — 2 (44 — 361. SINGAPORE: Thunderstorms. Temp 70 — 25 186 — 771 
TOKYO Fagg> Temp. 12 —6 >54 — 4j, 


BruMieh 


»rbed 
Bekaan 
Cocker II i 
CoOeoa 
EBES 

GB-Inno-BM 

GBL 

Gevoerr 

HoOaken 

Inlcrcom 

Kredletbank 
Pelrolfna 
Sue Generate 
Safina 
Soivav 

Traction Elcc 

UCB 

Unerg 

v is ill* Monlog ne 


1805 1770 
5940 5930 
266 762 

3380 3425 

3090 3080 
3200 3255 
1955 1980 

3900 3900 
5780 5760 
22C5 7IBS 
8200 KMO 
6770 67M 
1970 XXK 
9560 7®C0 
44C0 4430 
4125 4105 
5230 5140 
1700 1700 
63*0 6350 


KOI I + Sell 

Korsioot 
>.oumoi 
Kloeckner H-D 
Ktoeckner Werke 
Krupa siohl 
Linde 
Lufthansa 
MAN 

Mannesman/! 

Mcwiigeseiischatt 
Muench Rueck 
Preussoo 
Ruelgers-Werse 
OWE 
Schrrlng 
Siemens 
Thvsaen 
Vorta 
Veba 
VEW 


Close Prev 

250 252.50 

nijo ?n 
218 220 
249.50 ZS1 

69-50 70.ID 
ICiSO :oj 
411 JO 41*50 
19150 19] 

15050 153 

16050 159.10 
250 252 

1155 1150 
274 270-50 
32550 KS 
15*50 15X30 
44750 443J0 
526 53650 
9i70 98 

170 1 0250 
17850 177.70 
122J0 1 97 ->n 


Volk s wagen werk. 20050 l«a 

Commerzbank Index : 118150 
Previous : 1 18130 


Current Stack Index : 225453 
Previous : 22S5.93 


Frankfurt 


AEG-Telaiuni en 
Allianz vers 
BikI 
Barer 

Bavfir.Hvoa 
Ba-ror Ver Bank 
BMW 

Commerzbank 

Conllgumml 

Daimier-Beni 

C-eeussa 

Deu/scne Bcacoci 
Ecu' 5 the Bonk 

Gresdnor Bank 

DUB-Schull 

GHH 

Hocniief 

Moecnst 

Hausen 

Hol:mann 

Morien 


10780 IDT-60 
1038 1077 

197.40 |97 40 

20750 207 40 
33750 33) 

320 37k 

380 37350 
I64OT 165 
134 40 132.70 
66) 66550 
35a. 10 260J9 
161 161 
432.20 436.70 
167.10 185.10 
710 2I2JC 
15450 15550 
4,-2 472 

70)40 200)0 
107 10660 
393 389 

165 K7 


1 Bong Kong | 

Bk Bail A».n 




Cnauna Kong 



Cnino Light 



Cross Harbor . 

«.«o 


Horn Seng Sank 

47 


hh. Electric 



HK Hotels 



HK Land 



HK Shanghai 



HK Tnteonona 


71 

HK Whorl 



Hutch Whanipoo 

19.90 


Jardine Math 

9 



Jardine Sac 

9J0 

»T0 

Ne-* Warla 



Shan Brothers 



SHF. Proas 

9 


Sime Dora, 



Slalu . 






Wheel ocir a 



Wheeieck Mor 


_ 


Win so r 




World int 1 

1.7-1 

1.78 

Hang Sang index 




Previous : 1U8A2 




| Jobannrwbarc | 

AECI 



Anglo American 

2*65 


Anglo Am Gold 



Barlows 

1&4S 


Bl v/wr 



BuHbIs 



De Beers 



Drietontein 




E lends 

1600 



JIM 



2975 


Hivcid Steel 






NedConK 



Pros Stovn 



Pusnlot 






St Helena 



Sasol 




mm 

esa 

Camposlle Slock InOex : 102E.M 

Prevtous : 101086 




LMHhMI 



587 

£39 

324 

373 

251 

41 

520 

293 

174 

252 
541 
272 
1*4 
415 
694 
207 
515 
157 
196 
152 
206 
531 
144 
488 

si: 


Bcocock 
Bareevs 
Boss 
BAT. 

Beeawm 
BICC 
BL 

8‘ueClrcJe 
BOC Grouo 
Bools 

Barrator Indus 
BP 

Bril Home 5t 
Brit Telecom 
Bril Aerospace 
BTP 
Burmon 
Cable Wire'ess 
Codburv Sehw 
Charier Cans 
Coals Paians 
Commercial u 
Cons Gold 
Caurtaulds 
Daiger, 

De Beers# 

Distillers 
Drtetcnleln 
FI ions 
Free SiGea 
GEC 
OK N 
Glaxo c 
Grana Met 
Guinness 
Gus 
Hanson 
Hawker 
1C 
Imps 
Jaguar 
Doras Bank 
LonrTxj 
Lucas 

Marks and So 
Mldlcna Bank 
Nat Wesi Ban* 

PcndO 

Plik Inalun 

Piesse* 

Pacol Elect 

Randto/ucln 
Rank 
Peed Inti 

Peu'ers 

Po/OI Dutch ( *537/64 


dtt 


330 
527ft 
188 

224 

II 3>6411 13/64 
278 283 


705 

534 

1*5 

488 

500 

286 

*27 

318 

STTVj 

188 

225 


247 

B09 

219 

417 

774 

187 

300 

»4 

171 

733 

145 

129 

627 

351 

286 

196 

214 


249 

799 

713 

417 


297 

537 

170 

268 

329 

629 

348 

29o 

198 

214 


542 

361 


RTZ 662 

Sccicni 863 B30 

Somsbu 306 307 

Shell 703 703 

STC 202 ZM 

Sic Chartered *57 *42 

~ate ond Lv«e «30 *30 

Tesca 2*5 7<s 

nara EMI 399 *02 

1 group 2*4 226 

Trafalgar Hie 337 337 

THF 1*4 I** 

Ultramar 218 215 

•jn. lever I :2 3/64 12 5/32 
Un. lea Biscuits 181 181 

VlCJers 233 256 

W.Deeo 144 S4J 

* Holdings 534ft S34'z 

War Loan 3 1 s i IS— 3S'i 

Aoolworth 749 *64 

F.T. 30 Index : 978.10 
Previous : »79 jg 

1 Mflun I 



Close 

Prev 

FlnsJoor 

5350 

S2J5 

Generali 

42610 415*0 

(FI 

8010 

60*0 

itatcernentl 


llalmabllkarl 

69290 69850 

Media&anca 

S250Q 83BQQ 

Montedison 

1500 

1500 

Oflwem 

*311 


Pirelli 

2190 


RA5 

64900 65800 

Rinas canto 

6*250 

667 


1990 


Snta 

2826 

2813 

Slonda 

I2IJ0 


SKI 

2*55 

2505 

MIB Currant index : 1191 


| Previous : 1207 



11 1| 

Air Lteuide 

640 

639 [ 

Atstnora All 

307 JO 30750 


1205 

1217 


614 

609 


531 

533 


621 

610 


33*5 

2370 

Corrotaur 

2000 

I960 


1195 

1195 

Coil meg 

SSI 

261 JO 

Dumez 

elS 


Elf-Aquilalne 

23S50 235J0 




Gen Eaux 

659 

617 

Hodietie 

1532 

I860 

irnotal 

111 

112 

Later or Con 

479 

*75 

Legrand 

2060 

2120 

CO real 

2492 

2480 

Moh-O 

1870 

1850 

Mlctietln 

935 

936 

mm Pennor 

■00 

»a>c 

Moet Henness> 

1891 









715 

720 

Pernod Rlc. 

703 

687 

Petroles irtei 

266 26850 


205 

Bull 

Poclain 

50 

Cell 

Prlnlemm 

- § . * ] |i 

Rodiatecnn 

775.10 274.90 

PcdOule 



Roussel Ueof 

1723 

1723 


IBM 

1875 

So%n- .Perrier 

517 

523 


2536 

2555 

Tllamson C3F 

533 

550 

Valeo 

227 


1 Aaofl Index : 2BS58 


Previous : 20553 



CAC Index : at 180 


| Previous : 71S.44 



11 Stajganothe II 

Bousleod 

158 

156 

Cold Storage 

261 

250 




FraserNeave 

IJ5 

i jo 

How Par 



incncaao 



Lewd Shi o 



Mai Banking 

6 

5.90 




OUB 


176 






I Sri 


V* 


SI Trading 

422 

4 J? 


452 

450 

oub Index : 416.16 



Previous : 41259 



II .Screckhehn jj 


Sandvlk 

Skonska 

SKF 

Swedish Match 
Volvo 


206 

220 

240 


Attoersvaerlden Index : 38858 
Previews : 387 J9 


Sydney 


BOOKS 



LITERARY CRITICISM: Essays on 
Literature. American Writers. En- 
glish Writers. 1484 pp. 

LITERARY CRITICISM: French 
Writers. Other European Writers. 
The Prefaces to the New York Edi- 
tion. 1408 pp. 

Bv Henry James. Edited by Leon Edel and 
Mark Wilson. $27.50 each. The Library of 
America, 14 East 60th Street, New York, 
N. > r . 10022. 

Reviewed by Michiko Kakutani 

I N the right hands, Henry James believed. 

literary criticism could be a “supremely 
beneficent” art, but it demanded a rare “dus- 
ter of qualities” — curiosity and patience and 
“perception at the pitch of passion and expres- 
sion.” As he saw it, the cntic should be “die 
real helper of the artist, a torch-bearing outrid- 
er. the interpreter, the brother,” a kind of 
delicate tuning fork, keyed to pick up nuances 
of both beauty and craft 
Now. thanks to these two superb volumes, 
contemporary readers are afforded the oppor- 
tunity to assess James’s critical oeuvre — and 
the simple, sensuous pleasure of reading the 
master's improvisations on literature; Ameri- 
can, English and European. The books have 
been published, with scropuJouS attention to 
detail by the Library of America — a brave, 
new enterprise, dedicated to issuing the works 
of prominent American writers in an authori- 
tative form; and they contain a comprehensive 
collection of James's literary criticism, plus the 
18 prefaces he wrote for the New York edition. 
More than a third of the pieces have never 
appeared in book form before. 

In these essays, James illuminated his own 
writing process and the ideals he cherished as a 
novelist: his love of exactitude; bis conviction 
that a story should be coherent in form, as 
organic as a living creature; his passionate 
belief that novels, like old-fashioned paintings, 
should try to represent life. As a critic, howev- 
er, he tried never to impose his values upon the 
works of others; and he wrote, with admiration 
and perception, about talents as dissimilar as 
Dickens, Trollope, Hawthorne, Howells and 
Flaubert. He could delight equally, say, in 
Stevenson's “Treasure Island,” with its “nrirac- 

SoJution to Previous Puzzle 
iFlAlClTHHlAiR 


chd □□□□ naaaa 

ECJQE HBQH □□□□□ 


careblainhetape 


D3H □OH 

□nan □□□□□□ 
q anno □□□□□ 
□□□□□□□aanaaaaa 
□□□on □□□□ aaaa 
BBQEiaD anna ana 
□□a qoh 
□BQ onciaaaaaaaa 
BBHQa QHEDD □□□□ 
aaoa aann 
BBooa aaaa 


uJOjis ^incidences and buried doubkxshs,” 
an ^ 10 flic more “homely and prosaic” virtues 
of poc %5 helm Meister ” 

James: i abundant catholioty of taste reflect- 
ed not onhhic rmnmr of svnaoathY for 



PP- 

the 

“most maptiGcent form of art.” and that its 
magic derived from its elasticity, its radical 
freedom from definition. “The house of 5o- 
tionT he wrote, has “not one window, but a 
miDion.' and Sfe only obligation, to which in 
advance we may hold a novel without incur- 
ring the accusabefcof being arbitrary, is that it 
be interesting.” 

What James woold not tolerate was the 
v ulgar _ ihf» eg otist ica l and th«*- t kyiv and when,' 
he suspected that a writer was not making 
most of his gifts, be could be sharply dismis- 
sive. Reviewing Walt Whitmans “Drum 
Taps.” he wrote, “u> become adopted as a 
national poet, it is not eno ugh " “to discharge 

the undi, — “ -J * — - a - 

intothel 

“Les Fleurs da i 

dicrqusly puerile view” of evif — for him, evil 
“begins outside and not anri conasts 
primarily of a great deal erf inrid landscape and 
unclean furniture.” 

For the most part, though, James was less 
in terra ted in passing judgnint on a given text 
than in iremg it to shed light on an author's 
overall achievement. He betiewd that a novel 
reflected “the quality of the mind of the pro- 
ducer,” and he felt that critics had a r es po nyi- 
bility to interpret a writers inner Hfe and 
public personality. As a result, his essays are 
filled with wonderful cameos — character 
sketches almost as vivid as those found in his 
novels. Kipling, for instance, emerges as a 
cheeky youth who “rushes about maVnig peo- 
ple jump with the deep sounds, the sportive , 
exaggerations of tones mat issue from its painlr 
ed lips,” and Turgenev, as a “storyteller who 
has taken notes” U sur le vif” 

The transactions between life and an cautin- 
ualiy fascinated James, Rnd this 
impulse led him, in these essays, to i 
the husbanding erf material and talentandthe 
consequences of environment, social and far 
mflial, upon a writer’s sensibility. 

In his book-length essay on Hawthorne, 
James spent a lot of time marveling at how 
devoid this author’s life was of “social acci- 
dents” and “literary incident” He discussed 
the narrowness of Hawthorne’s life, spent 
nearly entirely in small New England towns; 
the unsophisticated appeal of his work, and the 
ways in which his innocent yet self-conscious, 
temperament typified the native genius. It is 
almost as t hough James — like the hero of 
“The JoDy Corner” — were meditating upon a 
possible alter-ego, what he might have been 
had he stayed home and never gone to Europe. 

In fact the character of Janus so permeates 
these essays that the reader is left with an 
insistent after-i 

man His presence is there in the 
style and the elaborate, supple prose. And it is 
there, too. in certain recurrent themes — die 
preoccupation with the United States and Eu- 
rope, with women as heranes. arid with what 
James called the “modem condition.” 




3/29/89 


Michiko Kakutani is on the staff of The New 
York Tunes. 


BRIDGE 


By Alan Truscort 

A LMOST all experts would 
open four spades with the 
hand shown, prompted by the 
favorable vulnerable ly. This 
happened to be the wrong mo- 
mem for such action. The limit 
for East-West is about one 
club, and North-South are 
headed for defeat in four 
spades doubled. The only 
question appears to be the size 
of the penally. 

At double-dummy the de- 
fense can take six nicks. West 
must under! ead bis club ace, 
allowing East to win and shift 
to a heart. This removes the 
bean ace from the dummy be- 
fore South can develop a dia- 
mond trick; and he must lose 
two tricks in each major suit 
and one in each minor. 

Down two seems a likely re- 


.suit, and would be the outcome., 
if West leads, for example, the 
chib ace. One declarer did bet- 
ter, for he received the lead of a 
small trump. This destroyed 
East’s jack, and when South 
won he led his singleton dia- 
mond. West put up the ace and 
shifted to dubs. The declarer 
was able to discard a heart los- 
er on the diamond king . He . 
lost a trick in each suit for 
down one, and thought he had 
done well 

Italy’s great Gioigio Bella- 
donna as South also received 
the helpful trump lead and also 
led his' shmleton diamond at 
the second trick. But when 
West put up the ace, he shifted 
to the three of hearts. He was 
discomfited and South was as- 
tonished to find that dummy’s - 
seven held the trick. It was 
then an easv matter to discard 


. the club-queen op ffteriuprwnri 
king, return to the dosed band 
with a dub ruff and drive out 
the ace. 

The defease took a heart 
trick eventually, but Bdladooa 
had ten tricks for a score of 
590. 

NORTH 
♦ — 

VA7 

- OKJ76943 
*5432 

WEST EASKD) 

VKI0S3 $542 ' 

<■ A. 10 111,1111 OQ82 

* A 8 7 4 *KJIB9j£: 

SOUTH 

+ K.Q10S754 

90 J|« 

$9 

* Q 

East end West were retoenUe. 
The Wddtag: 

East South Wot North 
Fare 4* Dbt Pare 


Wax led the spade two. 


ACI 

AMI 

ANZ 

BHP 

Soral 

Bougainville 

Brambles 

Colas 

Coma I co 

CRA 

CSR 

Dun loo 

Elders Ixl 

Hooker 

Magellan 

MIM 

Mver 

Ockfcrlaee 

Peko 

Poseidon 

RGC 

Santas 


202 

295 

455 

598 

326 

212 

3*0 

366 

270 

604 

236 

207 

316 

170 

240 

302 

182 

79 

402 

370 

490 

618 

186 

28 

98 

364 

:NJL 


Tokyo 


AA Care 
Mlicd-L.cr; 
Anglo An*. 3vi J 


*13 *17; 

»j is: i Fiat 


Berta Conn 

ten* role 
! Oaarv-te!! 

1 '.rtn n a i 

Farm, (olio 


16400 17000 
3630 3701 
8030 S3«5 


AGA 

Alla Laval 

Aim 

Aura 

Alias Caeca 

BolkJcn 

EleCtr6lu> 

E rla*on 
Essclle 

Hanaelsoankcn 
Pharmacia 


mm njia KnarmocH 

7935 2WS | Soatj-Somlo 


NO 

190 

3SS 

175 

1» 

775 

320 

74J 

N.O 

l&l 

903 


Akoi 

466 

466 

ASaM Chetn 

877 

875 

Aschl Glass 

910 

902 

Bank a* Tokyo 

840 

BSD 

Bridges tone 

540 

530 

Canon 

1370 

1390 

Clloh 

35» 

365 

Dai Nlpoon Print 

1050 

1040 

Dalwa House 

565 

571 

Full Bank 

1610 

1640 

Full Pnoto 

1730 

17K) 

Fuillsu 

1160 

1170 

Hitachi 

849 

860 

Hondo 

1420 

1420 

Japan Air Lines 

6400 

6400 

Kallmo 

573 

272 

Kansal Power 

1450 

1430 

Kownsakl Steal 

147 

147 

Kirin Brewery 

615 

595 

Kamalsu ltd 

470 

473 

Kuaota 

327 

325 

Matsu Elec inos 

1590 

1990 

Matsu Elec Works 

775 

785 

MITSUBISHI Bank 

1610 

1610 

Mirs.jWsni cnern 

450 

450 



Close 

Prey. 

MllsuBfehJ Elec 

394 

*00 

. Mitsubishi Heavy 

275 


Mitsubishi Cora 



Mitsui and co 

3*3 


Mllsukoshi 



Mitsumi 

971 


NEC 



NGK Insulators 

90(1 


NfkkoSec 

901 

SIS 

N logon steel 



Nippon Yusen 

240 


Nissan 

659 

663 




Otyrrmus 

1100 


Pioneer 



Rtath 

897 


Sharp 



Sony 



Sumitomo Bonk 



Sumitomo Chem 



Sumitomo Metal 



Tolset Cora 



Tohfto Marine 


467 

Takeda Chem 



Tdk 

5690 


Tellln 

451 


Tokyo Elec. Power 

1750 

1730 

Tokyo Marine 



Tor ay ind 

461 


ToshIBa 



Toyota 



YomclcM Sec 

822 

828 

Nikkai/Dj, index 

1260*52 ! 

Previous : 1255U2 
New Index : 180453 
Previous : 180*59 



II z**rfrf» II 

Adro 


2750 

Bank Leo 

3570 


Brown Boverl 

1635 


Clbo Golov 

2890 

2900 

Credit Suisse 



Electrowart 

2885 

2900 

Georg Fischer 

740 

750 

interdiseount 

1920 

1955 

JecoB Soehord 

6350 

6400 

Jet moll 

1920 

1940 

Landis Gvr 

1690 

1690 




Deri Ikon- B 

1480 


Roche Baby 

8725 

8775 

Sondor 

7600 


ScWndler 

6100 


Sutter 

365 

368 




Swtssclr 






Swiss VoiksBcnk 



Union Bonk 


3685 

Winterthur 



Zurich Ins 

20750 21000 

SBC Index ; 43150 
Previous : 43M0 



N.Q.: not quoted: ha- 
avoliaoie. *d; ex-dlvfderx) 

not 


Math 28 


CanotSai stocks aa AP 


inoAMJPree 
47380 Agnko E 
7200 Aora IndA 
2*8460 AH Energy 
1700 AHo Not 
1000 Also Cent 
2*59 Atgoma St 
8181 Arecen 
ZSOOAlCOIf j 
91425 BP Canada 
20474 Bank BC 
128356 Book NS 
3900 Barr lek o 
7100 Baton A f 
27281 Bonun a o R 
7150 Brnlorne 
1300 Bromaleo 
32S Brenda M 
6879 BCFP 
81070 BC Rea 
l^OTBC Phone 
7250 Brunswk 
1550 Budd Can 
8450 CAE 
300CCLA ... 
Z22DQ CDiStB B f 
16125 Cad Fnr 
IT350C NOT West 
400C Padcra 
7B35D Can Trust 
500 C Tung 
48236 Cl BkCom 
6400 Cdn Nat Res 

73224 enra At 


> C Util 0 
I Cara 


*30 N.Q. 


IBM Introduces S>-stem 
To Back Up Computers 

L'nnat Pnsi InttmuiuRal 
RYE BROOK. New York — International 
Business Machines Corp. unveiled Thursday a 
back-up computer system designed to provide 
uninterrupted service to on-line terminal users 
in banking, retailing, manufacturing and other 
industries. 

The IBM System-SS duplicates system hard- 
ware components. including processor, memory 
and controller, and takes over automatically if a 
component fails. The system continues to oper- 
ate and to process on-line transactions. 


« 

1903 CettXJTW 

665 Calm 1750 

4MCDWOA 
32200 CDMbBI 
106 70 CTL Bank 
30DConvMttrs 
MOConwe** A 
6BOOCOS8AOR 
*130 Conran A 
1200 Crown* 
airCTi czar o-* 
716U Daon EWv 
1 W0 Door A 
46120 DrnhodAo 
(0838 DanHan B f 
1500 Dev ■Icon 
23771 Dlcknxn A( 
4200 DkJcnolB 
1538 Damon A 
29240 Dofasca A 
1427 Du Port A 
449DYlaxA 
6575 ElCftMTI X 
U07S Eauitv Svr 
230 FCA Inti 
1600 c Falcon C 
2*180 Floitudoe 
1320 Fordv Ras 
i»sa Fed IndA 
2m Fad Plan 
7450 F Cllv Fkl 
looFruahaui 
250OG«noHA 
3735 Gaac Catm 
28345 Geocrudo 
4420 GUjrol tar 
2237Q Galdcorp I 
100 Goody* or 
4 Graft G 
500 Grandma 
50a GL Foraxt 
10 Gl Pacific 

45WHGTOUPA 
12900 Hrdlna A i 
S3oo Hawkar 
3093 Hay eiD 
1484 H Bov Co 
40915 imasca 
lOOOIndal ■ 
i2a 1 nans 
MZ70 inland Gas 
66000 Inti THom 
502650 Inter PI or 
8300 JannocK 
1 too Kant Katia 
650 Kerr Add 
11401 Labatt- 
71047 Lac Mnrtx 
zdoo LOnl Cam 
IMOOLaeana 


Web LawaamCtaa 
*5ft 55V, SPA + W 
SIM MH 16W+ U 
HV 6ft «6 
S21ft 2QW 2116+ 1 
SI 416 14ft Uft— ft 
52? ft 20ft 21ft + ft 
S21* 2116 21ft + ft 
Sl» 18ft 1? +16 

S0ft 816 8ft + ft 
S3! 29 3016+ ft 

15V. 5ft 5ft— ft 
ST2H 12ft 12ft 
147 U3 146 — 1 
315ft 1516 Wife— ft 
*50 435 440 +5 

S3 490 495 —5 

SI 7ft 13ft 17ft 
. S10 9ft 9ft + ft 
S9W 9 9 — ft 

344 234 342 +4 

521 ft 21ft Zlft+ft 
SI 6ft Uft 16ft + ft 
524 23ft 23ft 
S17ft 17 17ft— ft 

527% 27ft 27ft + ft 

56 6 6 

516 15ft 15ft — ft 
S25V6 34ft 25 +ft 
529ft 29ft ,29ft + 16 
5339k 32ft 33ft + ft 
514 U 14 
S29V1 29ft 29ft 

27 VS Z7ft 27ft— ft 
5896 8ft Ift— ft 
SI 7ft 17 17 

sn> ti lift +w 

57 Oft 6ft- 16 

517 17 17 

56 6 6 

56 6 6 

51016 to ?0 

ws H 5ft 
Sft 7ft 8ft + 16 
28S 27S 2S5 + 6 

sii ioft n + 16 

517ft 17ft 17ft 
170 164 170 +12 

44S 420 440 +15 

425 42D 425 +40 

Sift lift lift+ft 

511ft 10ft 11ft+ ft 

57 7 7 

S6ft 616 6ft + ft 
56ft 6ft 6ft + ft 
215 215 215 

SZ7ft 27 . 27 — ft 
SI Aft 16ft 16ft + ft 
539% 39ft 39ft— ft 
SSft 816 Ift— ft 
S7ft 7ft 7ft 
SlVft 19ft 19ft- ft 
511ft 1816 18ft + ft 
10O 98U. 100 +3 

295 295 395 +5 

S22* 22 22ft + ft 
*71% 21ft 21ft— ft 
513ft 12ft 1» 

524 31 94 

S27ft 27ft 2716+ 16 
510ft 10ft 10ft + ft 
273 268 270 +3 

59ft 9ft 9ft 
57ft 7 7 

S«ft Cft 42YS+VS 
531 21 31 — 1 

66 *6 44 

ST T 5* 

£> VSftU 

Jllft lift lift 
Steft 16ft 16ft— ft 

528 27ft 27ft — ft 

13 13 • + ft 

5151k 15ft 15ft 
ST6JV 15ft 16 

JSti jsp ®y* + ft 

537ft 3716 3716— ft 

si u* n u + % 

117 117 117-6 

516ft 16 16ft 
523 23 23 

snv« 31 31% + ft 

siift ii« n%+ ft 
51316 Uft 13ft+ ft 


. 212 LL Lflc 
reuLoWawCo 
2D0MDSHA. ■ 
10S100M1CC 
17386 MdanHX 
18121 MartondE 
457SMoHonAI 
lKOMaftoaB 
62>9 Murphy 
200 fiabliai L' 
60824 Naranda - 
43204 N orcan 
1 22297 Mug AltAf 
12237 NowscoW 
32148 NuWst OP A 
7562 Oat wood 
■ naoothawgAi 
12200 Pomaur 
53824 PanCanP ■ 
11400 PirnMna 
3400 Phanbc Oil 
243 Pina Point 
1000 PkwoGOa 
90461 Placer 
12085 Prowtgo 
8500 Qua Stergo 
3260 Ray roekl 
15313 RadpafU 
5Ut27 MHaillA 
4952SRa5Servf . 

3077 Revn Pro A 
1967 Rogers A 


+ 5* 


250 Rattxnan 
46715 Soptra 
1077SScattsf ’ 
23400 Soars Can 
409560 SIMU Can 
21931 Sharrm 
5M Stoma 
100 Slater Bf 
7000 Souiten 
750 SiBradcsf 
25922-Stetca A 
29000 S^rtro 
50 Stoop R 
36350 Sydnovo 

jMOTdcare 

5*700 Tara 
1294 Tack Or A 
S4*47TeckBf 
204438 Tax Can 
4400 Thom N A 
27631 Tor Dm Bk 
20WTormr Bf 
2£1 T radars A I 
3500 Tm* Mt 

iR&gifr 

WMBTrCaaPL > 
30978 Trimoe 
■“JrtaocAf 
23050 TurtMf 
293 Un Comid 
8899 U EnlprlM 
3400U Kano 
2814USlXG0e • 
15*50 Venn At - 

33BB- 

tszxsa 1 " 


. S34 34 34 —1 

£1716 16% 17 — 16 
519ft 18ft 18ft + V6 
214 205 212 + 7 

S25ft 2S6 25Vj+ ft 
430 415 425 +15 

$16% 16 ' 16 — ft 
51 4ft Uft 16ft + ft 
522% 2116 22 +1 
526 26 36 +16 

SI 8% lift lift- ft 
516ft U.- 16%+ 1 
5696 6% 6ft 

524ft 2316 24 + % 
54 50 50 

57ft 7 7ft + ft 
*24 23% 231V— ft 

57% 7ft 7%+ft 
531 30ft 30ft + ft 
SIS 17% -18 + to 
57% 716 — 

528 28 28 

117 117 117 

SZS% 25ft 25ft— ft 
520 19% 19%+ ft 

415 390 405 , +TS 

l««to 8ft Ift 
S12 lift 1W . 
SZ3ft 2ft 7116—1% 
270 266 360 —.1 

125 125 125 

80% 916 9 ft— 1« 

sum -raft io%+ % 

S41ft 41 41 - 

J6ft 6ft 6ft + 16 
S22ft 2T% 22ft + ft 
S7to 7% 7% 

528ft 36% 26%+ ft 
57ft 6to 6%+ ft 
58% Bto Sft+ft 
*10ft KJft 10ft + ft 
558ft M 9 — ft 
512ft .1214 1ZS6 . 

^3?S 33.+l1f 

270 270- 270 +5 

24 23 23 

108 102 IDS +8 

521% 21ft 21 %— to 

sn% 11% n%+% 

SUft 11% 1316+ ft 
535% 33ft 2416+116 
557% 57 57ft— ft 

Slfft 18% TO —ft 
819% W% •!»%— ft 
523. 22% 27% + .% 

S7% 716 7%+ ft 

420 4H 410 —3) 
SZSto 26% 24% — ft 
524% 23%.- 23%+% 
430 415 42D —15 

527% 27% 27%+% 
59 57 99 +G - 

511% n% 11% • 
*1% lift 11% + 
51116 11 lift— 
i» no no - 
SJft 7- 7ft 
S1H6 11% 11% , • 
*16 . 15ft 16 * % 


SI 2ft 12ft 
513 12% 


Total Hdas 2063081? sham 


TSE 390 Index: 


Uft— M 

12 % . 


250 LAO 


Moth 28 \ 


liras Bank Man I 
14726 CortBafli 
43T9DomTxtA 
117SMntTrst 
3913d NalBk Cda 
21005 Pawgr Carp 
416 RoUandA . 

25400 Roy T ratal 
Total Softs 40TU23 


Indretriats hntex^ 


517ft T7to T7% ( 

IteTS 




.VI 

I 

r J 


mas 


\ 







< J S „.,?SI2S5V??I5 VVA 3»?S3J8SIHiS5ffgmSH?«f«S5S5S5 l m l 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


Tuesdays 


MSE 


Closing 


Tobin Include the oafluowide prices 
up to the dosing on Wall Street 
and ao not reflect late trades elsewhere. 


is Month 

High LOW Slock 


Oh/. YU PE WOSHEOh LowQuat 


12 Month 
High Low Stock 


Dlv. YU PE iOOxHtotlLnwQuOt 






AO 

20 

11 

STS 

8.1 

8 

123 

*8 

a 

407 

120 


M 

U 

65 

X0S 

7 A 


100 

30 

13 

00 

26 

9 

i 00 

10 

17 

230 

*J 

9 



17 

00 

40 

14 



26 



10 

.16 28 

U2 30 10 


2 H P witch lat *J 
mo PalmEI 2J6 70 
36 PotElpf -LSD 100 
31 PMEI Of 4JM 110 
16% Premia M 14 
24% Prtmrk ZOO 14 
11% PrtmeC 
rato PrtmM* srt a 
46V. ProctG 240 46 
7V, PrdRsh 02 15 
31 Prefer 140 15 
16% PSuCof 1J2 1* 
51% PSColpf 7.15 122 
16% PSColpf 2JQ 1U 
6 % PSIrxJ 100 TX6 
1916 PSInaf 150 UO 
6 PSIapf 144 1SJ 
6 to PSInof 100 144 
3S% PSInpf 7.15 1U 
3% PSvNH 

6 PSNHPf 
flfe PNHpfB 
5% PNHpIC 

7 PNHofD 
7 PNHpfE 
7to PNHpfC 

lM PSwliM IBS 114 
20% PSvEG 272 HI 
10% PSEOof 140 112 
U PSEG Pf 117 1X3 
16% PSEG pf 143 T25 
96 PSEG pf H2S 111 
55 PSEG pf 720 125 
33 PSEG Pt *08 1ZJ 
51% PSEGpf 753 123 
51 PSEG of 750 124 
3% Public* 

Mfe PutHo .16 U 
9% PusetP 106 122 
IBM PultoHm .12 A 
22 % Purnhrf 120 54 
5% Pyre 


12 Month 
High Low Stock 


Dlv. yu PE moxHtah towQwof-Oitoo 


2012 If Ryder l 50 14 ? 334 25% 25 25% — % 

36% 12% Rvkmd 40 If M 1Z1 21 20% 21 — to 

16to 1% Rymsrs 5 49 isto 15 ISto + to 


297 12% 
666 10% 


44 2Sto QuakOs 124 19 13 
90 90V2 QuaOpt 926 1 0.1 

22 % 15 QuafcSO 40 34 26 

11 % 6% Quanex 35 

34% 23 Outimr 150 49 9 

25% 14 Ok Roll 24a 1.1 II 


2051 42to 42% 42H— to 
150r 94% 93 94to +1% 


551 31to 20% 21 + to 

too »% ato tto + to 


1OT 32% 32% 32% + % 
131 22% 32% 22%+ to 


£ 


2924 49 
1343 26to 
10* 34 


49 +: 
39% 30to— 
23% 23% — 
47% 47% 

16% 16% 

35to 35%+ to 
50% 51%+ % 
»% 24% + % 
9to Sto + to 
17to H — % 
33 33% — to 

25 25%+ to 

15% 15% + % 
4% 4%— % 
% 
to 
% 
i% 



hrfr 




17 
14 
49 
I 0 

129 5J 

SouroC 339 It 
srcCppf 140 tu 
Safer la 149 94) 
140 22 
L20 4 A 
1.68224 
204 *3 
1 SI M 
261 77 




22 

18% 

36 

25% 

12 

■to 

45% 32to 
3W1 23 

53% 

32% 

21 % 

Uto 

tZto 

2 

75 

3116 

21 % 

19% 

19% 

14% 

23V. 21% 

36 

34% 

» 

6 % 

59% 

43% 

m 

9Gfe 

49to 

34% 

15% 

7% 

34to 

21 % 

30% 

19% 

17% 

14 

21 % 

16% 

35% 

38% 

14% 

n% 

59% 

27% 

38% 

25% 


W 










!£5 


19to 
Tito 
40 
31% 

22to 

am 

16to 
20% 20% 
14% w 
22% 14% 
41% 34% 
37% 25% 
16to 9% 
3 2to 
38% 72 

fto 5th 
42% 39% 
32% 23 

32 



r 

i? 



33% 33% 
U% 17% 
94 94% 

33% 33% 
37 37% 

5% t% 
16% M% 
27 27 

30 30 

* 5 

23% 
17% 
31 
29% 
47% 
106% 
19% 


K ntQ 

"ESS 


» .iSJSji' 

r?i 


19% 
31% 
34 23 

44% 34% 
5T% 43% 
9 % 11 % 

4i a» 


.JIU m \Z 

W* » to I 

Jill 


ar 


”2 S*S*s 


47% IM 
36 24% 

45% 3Mb 
2fto 17% 

Z5V> 14% 

W% 6% 
uto « 
31% 22% 
a 


% 
% 
to 
w. 

a 
% 
% 
% 


Jarf 

s at 

* % 7* } 

£2 ?£«%S 

.3 t 


■S3 aSjKj 

m gjsag 


iv 43 mi SS 5 

211 41 £ 

4 STto <7% 5 
33 3to 3% j 
% 59% 39% to 
3% 1 
40 12% 12% n 
U 71% 21% 3 


46U 33% Xerox sn 70 17 2190 43% 43% 46 

8% 45% Xeraapf 545 H0 JO) 59to SO jg 

29 19 XTRA 44 14 9 25 5*% to 2 


33% 

21% VFCore U2 IS 

■ 

262 

31% 2in 

31H— % 

isto 

Stk vafera 


227 

9 

S% 

9 

23% 

14 VOtar Pf 344 150 


25 

22% 

21% 

21% + % 

Sto 

3% Vafevln 


12 

2% 

2% 

2% — to 

as % 

17% VanDr • 02 37 

7 

53 

24% 

24% 

24% + % 

6% 

2% VWCO 


17 

2% 

2% 

2% — % 

18% 

5% VOrcapf 


5 

7to 

7% 

7to 

46% 

30% Vartan 06 A 12 490 

31% 

31 

31% + % 

13% 

9to Vara 40 34 

15 

112 

12 

11% 

11% 

25% 

17% Vggco 40 28 

13 

163 

19% 

19% 

19%+ % 

6% 

3% Vanda 


17 

3% 

3% 

3% 

10% 

*% toPte 1000114 


1 

10% 

IM* 

W% 

43% 

35% Vtacotn Al U) 

11 

45 

+ito -a 

41 —to 

4 

36% VQEPpf 5L00 110 


10* 42 

42 

42 

« 

54 VaEPpf 702 110 


10* 45 

45 

65 +% 1 

75% 

40% VaEPpf 104 124 


20* 71% 

71% 

7116— % ; 

(3% 68% VaEPpf 905 124 


200* 79 

78% 

78% 

46Kr 82% VoEpfJ 702 120 


40z 63% 

62% 

42% 

61% 49% VaEPpf 700 120 


100* 99 

59 

59 

30 

11% Vtetiavs 

14 

79 

20% 20 

20% 

47% 

77 Vo mad 

15 

a 

39% 

39% 

39%— M 

78 

58 VUIcnM UO 14 11 

14 

77% 

76% 

77%+ to 


NYSE Higha-Lowa 


lt%— V, 

n%+ to 




The Associated Press 

BEUING — The Asia-Padf 


U.S. Futures iM26 


Season Season 
High Low 


Open High Low 


Season Season 
High Low 


Open High Low dose 


Season Season 

Htoti Low 


Open High Low Close Cha. 


Grains 


ORANGE JUICE (NYCE) 

15000 Undents per lb. 

18S0O 15LD0 May 16075 16220 16030 

16435 15500 Jul 16L50 1S3JM 161.10 

19230 15775 Sep 16175 14240 14175 

10100 15700 NOV 159 JO 16000 159 JO 

19000 15600 Jan 16075 16073 16075 

177 JO 156J0 Mar 

16250 16000 MOV 

Jul 

Ext. Safes 400 Prey. Safes 
Prev. Day Open Inf. 6065 up 4J 


CANADIAN DOLLAR (IMM) 

5 per dir- 1 point sauo is SUXHl 
7935 7054 Jun 7219 7255 

7595 7025 Sep 7220 7234 

7546 7004 Dec 7270 7229 

7504 3981 Mar 7192 7192 

7070 7070 Jun 

Est.Sales 2010 Prev. Safes 1334 
Prev. Day Open Ud. 11048 off L224 


7319 7354 
7220 7233 

7210 7225 

7192 722D 
7212 


1-00 14 9 
04 20 14 
056100 11 
J* 2A 16 
00 3J 
.10b 0 24 
1.10 80 
300 92 9 
02 24 U 
00 40 9 
40 22 9 
75 25 ■ 


FRENCH FRANC (IMM) 

5 per franc- 1 point equals 9100001 
.11020 09410 Jun .10170 .10170 

.10430 09600 Sep 

09670 09670 Dec 

Ext Safes 18 Prev. Safes 

Prev. Day Open Int 603 

GERMAN MARK(IMM) 

* per mark- ipdrrteouob 104001 
7733 0905 Jun 0114 0146 

0545 -29X SOP 0147 0171 

0610 0971 Dec 0182 0207 

0211 0040 Mar 

Est.Sales 24014 Prev. Safes 16035 
Prev. Day open int 50079 off 1645 


.10170 .10150 
.10100 
.I00SD 


49% 20 UAL 75e 10 7 1896 45% 44to 49% +1 
34% 24% UAL of 240 77 87 31% 30% 31% + % 

15% 7% UCCEL 19 25 13% 13% 13% 

23% 16% UGI 204 8J 11 118 22% 23 33 — to 

llto 3 UKCRes 205 9% 9 9to 


0115 0136 
0147 0165 
0182 0200 
0237 


Company Earnings 

Revenue and profits, in millions, are In local 
currencies unless otherwise indicated 


Britain 


SWISS FRANC (IMMJ 

s per franc- 1 point cmaissaopai 

4900 0439 Jun 0674 0709 0671 0693 

4930 3490 Sep 0712 0745 0712 0734 

4360 0531 Dec 0780 


British Aerospace 

Year 1964 1*81 

Revenue— 2470. 2ml 
Pretax Not— 1202 820 

Per Shore 054 0411 


Hong Kong 

HK Shanghai Hot. 


Est.Sales 18002 Prev. Sates 9078 
Prev. Day Open lot. 23455 up 394 


ReddtttGofcnan 


Year 1984 1981 

Profit 15309 0929 

Per Share — L55 141 

Pull name of company It 
HaooKoog t Shangha i Ho- 
MU 



industrial 


Year 1989 JIB 

Revenue — — 1.120. nt0 
Pretax Net— 1064 9874 

Per Share 04194 00685 


Staid. Chart. Bk 


Singapore 
Haw Par B ro thers 


Year 1984 W*3 

Pretax Net— 2900 2681 

Per Share 0+44 0771 


Year 19M 1982 

Reve n u e 234.15 2S222 

Profits 656 2175 

Per Share 0064 0087 


Safes figures are unofficial. Yearly highs and lows ref fed 
too previous 53 woo k totos the current week, but not lhe latest 
trading day. Where o solll or stock dividend (mounting to 25 
percent or more has been paid, me yea r' s high- lo w range md 
dividend art shown tor the new stock only. Unless otherwise 
notea rotes of dividends ore annuo! disbursements based on 
the Weil declaration, 
a— dividend atsoextro(i) Jl 
B — annual rate of dividend plus stock dtvkfencL/l 
c— HquMaftng (flvkfendUl 
dd— cal lea/ 1 
d— new yearly Iowti 

•— dividend cfedorod or paid in preceding BmoaEufl 
g —dividend In Canadian funds. suMectto 15% non-residence 
tax. 

I — dividend declared after soitf-uo or Stock dividend, 
i —dividend paid this year, omitted, deferred, or no action 
token of fated dMdend meeting. 

k— dividend dec la rod or paid this year, on occumgtottve 
Issue with dividends In arrears, 
n — new feme In file pot 52 weeks. The Mgh-iowrgnoe begins 
with the start of trading, 
nd— nexuJay delivery. ... 

P/E — P ri ce- e ornlngs ratU 

r— dividend dedored or paid in precKfino 12 months, plus 
stodc dh/ldend 

s— stock spilt. Dividend begins with dote of spiIL 
sis— sales. 

1 —dividend paid In stock In preceding 12 monitu estimated 
cosh value on ax-dlvidend or ox-dfetrlbuf Ion date, 
u— new yearly high, 
y— trading ha Had. 

vi— In Ba n krup t cy or recolwarihlp or being rsorganlMdun- 
dcrltie Bankruptcy Act. or securities assumed by such com- 
panies. 

wd — when distributed, 
wi— men Issued, 
ww — with warranto, 
x — ex-dhrMend or ex-rfehts. 
xdis — ex-distribution, 
xw — wfthoul warrants. 
y—ax-dMdand and sales In fulL 
yld— yield. 

I— soles In tulL 


America's Asia division, told 


he said m a prepared teact. 


niTM by Bank of America. 



economy tins 


».» m»; ijTi 


curtail the U.S. 


eminent of 
motive into 
economy. 


SOYBEAN OIL (CBT) 






60000 tax- doJ tars per 1 DO lbs. 



3003 

+46 

30,10 

2200 

MOV 

3005 

3059 

2901 

3000 

2X70 

Jul 

2845 

2*00 

2*25 

2*67 

+09 

2700 

2240 

Aim 

2780 

2700 

2705 

2740 

+05 

2*95 

2240 

Sen ■ 

2*40 

2*05 

2*45 

2*00 

+45 

2+00 

2200 

Oct 

2500 

2500 

2550 

2500 

+J0 

2340 

2X90 

Dec 

2400 

MfS 

1446 

2400 

+03 

2505 

2X60 

Jan 

3440 

2+75 

2443 

2442 

+.15 


2440 

Mar 

2440 

2445 

2+50 

2+20 

-00 

Ext Sato 


Prev.Sates 13452 




Prev. Day Open Int <7487 off 350 ■ 




OATS (CBT) 







+00Qtw minimum- dgl lore par bushel 




1.91 

147% 

MOV 

102V* 

1021* 

101 

101 

-voe% 


141 

Jul 

148% 

149 

145% 

14816 

+00% 

140 

Sen 

144% 

144% 

1441* 

144% 

+0014 

iJD% 

146 

DSC 

147 

147 

147 

147 


Ext 5a fei 


Prev.Sates 

40 




Prev. Dav Opwi Int 3085 off 3 






London Metals 

March 26 


London Commodities 

March 26 


Paris Commodities 

March 26 


Livestock 


CATTLE (CME) 

40000 IbaL- cents per lb. 

6900 6105 APT 6110 6305 

6900 6440 Jun 6602 6705 

6707 6X15 AUO 6607 66.70 

65.90 6140 Od 6305 4400 

6705 6340 Dec 6SJ0 6500 

6745 6405 Fab 655$ 6X75 

67-57 6600 APT 

Est.Sales 19082 Prev. Sates 12083 
Prev. Day Open lrd 63.163 up 972 

FEEDER CATTLE (CME1 
44000 lb&-cenls per lb. 

7420 6600 APT 6000 68.95 

7205 6405 MOV 69JB OUO 

7300 6640 Aug 7050 7102 

7100 6700 Sep 70JM 7800 

7032 67.10 Oct *940 7040 

7300 6905 Nov 7TL40 7095 

EsL Safes U6t Prev. Safes 991 

Prev. Day Open Int. 10740 off 3 


6307 6X62 ' +JQ 

66.12 46J92 +00 

6600 6645 +40 

6X90 6442 +60 

640S 4S4S tot 

6550 6505 +05 

6495 +05 


Close Previous 

Bid Ask Md Ask 

ALUMINUM 
Sterifeg per metric ton 
spat 92100 92400 93000 93100 

forward 95400 95600 96100 96100 

COPPER CATHODES CHiah Grade) 
Storing per metric too 
spot 100080 100100 1,18500 1,18600 

forward 101800 101900 100450 100700 

COPPER CATHODES (Standard) 
ftortfeg per metric too 
spot 100200 100X00 1,19200 1,19500 

forward 101600 101700 100700 101000 

LEAD , 

Sterling per metric tea 
spat 30X00 30480 30100 30200 

forward 31250 31400 310J0 31100 

NICKEL 

Sterling per metric too . , 

spat 443080 444000 447000 448000 

forward 449000 448500 453080 452580 

SILVER 


High Low Md Ask 

SUGAR 

Sterfine per metric too 
May 11500 11400 11480 11440 
AM 11900 11800 11900 11880 
Oct 12400 12300 12200 12120 
Dec 13000 12900 12900 13000 
Mar ’ 14300 14200 1420014X00 
MOV 14800 14700 14740 14X20 
Ana N.T. N.T. 15240 15480 
Volume: 622 lots of 58 tons. 


11440 11448 
11840 11908 
12340 12X80 
12900 13080 
14300 14340 
14*4014900 
15X80 15400 


Financial 


6705 6870 +03 

6*00 6905 +09 

7050 7102 +05 

7000 7*70 +63 

6900 7*40 +00 

7040 7095 +08 


US T. BILLS (IMM) 

SI million- pis of 100 pet. 

9101 87.14 Jun 91.13 91.16 

9103 8604 SOP 9*63 9003 

9000 8577 DOC 9026 9*27 

90S 8600 Mar 9001 9081 

9007 8701 Jun 8908 8902 

9000 8800 50P 8902 8902 

8903 8905 Dec 

Est.Sales Prev. Safes 4396 

Prev. Day Open int 39042 aft 49 


9104 91J4 

9000 9*01 
9*79 9*26 

8903 9000 
8978 8902 

8902 8904 
1048 


Spat 54300 54500 53650 53700 

forward 56200 56480 wa n $5600 

TIN (Standard) 

sterling per metric too 

Spat 900500 901580 905700 906500 

forward 902500 903*80 907000 908000 

ZINC 

SterHas per metric toe 

spot 78200 78X00 77*00 77280 

forward 75580 75600 7490D 75*00 


dose 

High Law Bid Ask Cfc'ue 

SUGAR 

fr uGIt w cs per metric ten 
May U30 1021 1023 1024 —2 

Aug 1098 1078 1078 1082 —2 

Od 1020 1415 1415 1422 —I 

Dec , NX NT. 1470 1493 UtKh. 

Mar 1 1080 1092 1068 1074 — B 

May 1040 1035 1029 1034 —1 

Ext. voL: 600 lets of 50 tons. Prev. actual I £alledlum.ez 
mbs: 1444 lots. Open Interest: 2X112 SDvar N.Y.az 

C OCO A 1 Sourcm: AP. 

French francs per 188 kg 
Star 2030 2030 2032 2040 —18 

May 2040 2020 2020 2035 —31 

Jly NT. NT. 2085 — —25 

Sea NT. N.T. 2066 2071 —9 

DOC N.T. NT. 2.175 4190 —10 

Mar N.T. NT. 2.160 2.195 Undi. 

May N.T. NT. 2.160 1195 + 10 

EsL voL: 70 lots of 10 tan* Prev. actual 
safes: 1 Si lots. Open I nterest: 964 
COFFEE 

French francs per lit ka { 3-manth 

Mar NT. NT. 2046 2015 +11 Umenm 

May NT. N.T. 2010 2024 -« T™, 

JtY NT. NT. 2065 1485 +15 • Oavpar 

Sep N.T. NT. 1700 1710 + 13 

Nov N.T. NT. 2010 1725 + 25 

Jan NT. NT. 2080 1718 +14 

Mar N.T. NT. 2057 2080 +12 

EsL wL: 0 late at 5 tan* Prev. adual safes; 

23 led* Open Interest: 189 
Source.- Sauna da Commerce. 


MOOS (CME) 

3*000 lbs- cents oer IN 
5445 4405 Apr 4500 4605 

5540 4840 Jun 4900 51.17 

5507 4*95 Jill 5100 SUB 

5407 4700 Aug 5X80 5235 

5105 4500 Od 4*70 4900 

3085 4400 Dec 49.15 4950 

4900 4405 Feb 4945 5*00 

4705 4500 Apr 4640 4780 

4805 4780 Jun 4980 4980 

Est.Sales 9000 Prev. Sates 7071 
Prev. Day Open inL 25090 up341 

PORK BELLIES (CME) 

3*00) lbs.- cents Per lb. 

•280 61.15 May 7285 7340 

8247 4115 Jut 7132 7185 

B045 6*20 Aug 7*90 7130 

75.15 6X15 Feb 74-55 7590 

7340 6480 MOT 7400 75.15 

7040 7*40 May 7480 74J0 

7300 7*90 Jul 7500 7500 

Est.Sales 6005 Prev. Safes 6036 
Prev. Dav Open la* 11456 oft 318 


4505 4605 +83 

4980 5182 +107 
5102 5252 +1.17 
5100 S42 +70 

4*60 4945 +08 

49.15 4905 +0Q 

4945 4905 +0S 

4640 4600 +45 

4980 4980 +10 


7108 7207 +02 

7100 7220 +08 

7*00 7100 +00 

7405 7590 +148 
7480 7530 +208 
7400 7500 +200 
7S25 7610 4080 


10 YR. TREASURY (CBT) 
SlOaOOOprin-DtsAMndsoflOOod 
82-3 70-9 Jun 78-20 79 

81-13 75-18 Sep 77-25 78-6 

80-22 75-13 Dec 

80-8 75-14 Mar 

79-26 7+20 Jun 

Ext. Soles Prev. Sales 4029 

Prev. Day Open in* 5*037 up 86 
US TREASURY BONDS (CBT) 

<8 Pd-Siauao-Pfs & S2nde ellM PCf) 
77-13 37-20 JWI +826 69-10 

76-2 57-10 Sen 68 6B-I5 

76-3 57-8 Dec 67-19 67-23 

72-30 57-2 Mar 48-21 67-1 

70-16 56-29 Jun 684 66-14 

70-3 38-29 Sep 63-10 63-30 

49-24 36-25 Dec 686 6816 

69-12 56-27 Mar 

69-2 63-12 Jun 

68-26 634 S«p 64-11 64-15 

68* 62-24 Dec 

ES. Safes Prev. Safes 67098 

Prev. Day Open I n*22601 > up 967 
GNMA (CBT) 

810*000 prlrv Ms & 32nd* of TOO pd 
49-77 57-17 Jun 68*8 69 

6*4 59-n Sep <8 48-0 

68-13 99-4 Dec 

68 S82D Mar 66-23 67 

67-8 38-25 Jun 

67-3 AS Sep 

Ext, Safes Prev.Sates 72 

Prev. D«y open int, 4063 attB 


Stock indexes 


Asian Commodities 

March 26 


. . tr 77 


m 


m 


Dividends March 26 


67-25 68-14 

67- 3 67-22 

68- 16 67-1 
6830 66-14 

SJi 

66-11 66-11 
64-2 


SP COMP. INDEX (CME) 
potetsand cents 

189.10 15*10 Jun 1810D 18X05 

19200 16000 Sep 18S25 18600 

19640 17300 Dec 18800 18805 

17105 19*10 Mar 

EsI. Sales 39,233 Prev. Sales 47086 
Prev. Dav Open lot 53072 up 922 
VALUE LINE (KCBT3 
points and cents 

20600 168.10 Mar 19105 19240 

21900 17000 Jun 19*70 19*03 

21200 18505 Sep 20100 20100 

21*80 20900 DOC 

Eat.Saies Prev. Safes 3014 

prev. Day Open Int. 6038 Otf«3 


Volume : 10W lots of 100 tan* 

Sourcot : Reute rs and LartOon Petmtam Ex 
change loatotlh 


Per Amt Pav Rec 
STOCK 

_ 100% 5-3 +12 

INCREASED 


Charming Shoppes 
Hydraulic Co 
Pub Sv Co Cofarade 


05 +15 +5 

00 +15 4-8 

00 5-1 +12 


HU ton Hotds 


S&P 100 Index Options 

March 26 


68-24 69 

" to 

66-23 67 
6+16 
6+1 


NYSE COMP. INDEX (NYFE) 
points ond cents 

11000 9*00 Jun 10500 10600 

11100 9105 SOP 19700 10800 

11X75 10100 Dec 10905 11*30 

11X10 112X0 MOT 11X80 11X80 

Ext. Safes 11422 Prev. Sale a fJHt 
Prev.DovOPenln* 9,129 up 237 


Pda M Her Jme Hr Apt Mot 1m Jly 


8 02 +10 4-3 

40 5-13 +25 . 

§ S 3 I said it has 



09 +41 +12 
JH +24 +7 

05 5-29 +8 

07 +15 +20 

02 5-6 +15 

03+49+12 

03 +15 3-29 


mo — — — — im a ~ 77U 

US 11% — — — 1/M % % ism 

19 A R Oft 11% 7/M 1% 1 7/141% 

175 » » 4% 14 1% 7k. j%]% 

HO 15fM23y 4* » S% 5* — 

05% *2) 10* MW JO- 

IN i«im » a. ism- is* - 
Itt Uli 3/M % - 


A-AohkU; M Me attH y; Q-O+Mmrtertv; S- 
Seori-AnnueL 


404 407 

400 400 


CERT. DEPOSIT (IMM) 

ST million- pts of lOOPct 
91 JO B5L63 MOT 91.18 9101 

9100 6SJ0 Jun 912B 9146 

9000 85X0 S«P 8900 8900 

9*17 1504 DUC 8900 8908 

89J8 8*56 Mar 

8946 8*43 Jun 

■02 8706 S8P 8*00 8*00 

EsL Soles Prev. Sato 201 

Prev. Day Open id. +991 off 37 

EURODOLLARS (IMM) 

SI mJlllo+pif Of 100 PC* 

9*88 8209 Jun 8906 9004 

9*33 8+53 Sop 8902 8907 

8907 8480 DOC 8*81 BUS 

8901 86.10 Mar 8*31 8801 

89.15 I6J3 Jun 8*04 8804 

RU4 B7XB Sep 8801 8*13 

8907 8708 Dec 8701 8703 

Ext.Scto Prey. Salat 20018 

Prev. Oar Own int 980*5 upM2 


Commodity Indexes 


91.13 9101 
9001 9*43 

8900 89J6 
8908 8901 

££ 

1800 8*54 


8901 9003 
89.17 8906 
B8J6 8804 
8*46 8803 
8804 8809 
8801 81.14 

8701 8707 


Ckns 

Moody's 98140 f 

Reuters 1,969.80 

DJ. Futures 123J58 

Com. Research Bureau- 243.90 

Moody's : base 100 : Dec 31, 1931. 
p • preliminary; I - final 
Reuters : base 100 : Sep. 18, 1931. 
Dow Janes : base 100 : Dec 31, 1974. 


Previous 
96530 f 
1,96600 
122.99 
24*90 


DM Futures Options 

March 26 


W.6 wm M uM 2Mnntefta>eriBrt 


Market Guide 


BRITISH FOUND'D MM) 
s per pound-i point equals 5*8001 
10350 10235 Jun 1.1640 1.1750 

1-4450 10200 Sea 1.1615 1.1700 

10710 10200 Dec 1.1630 1.1690 

1.1555 10680 Mar 

Est.Sales 7024 Prev. Sato 7095 
Prev. Day open int. 24079 up 2X43 


1.1635 1.1700 
1.1615 1.1646 


1.1630 1.1660 

1.1660 


NY CSCE: 

NnrCE: 

COMEX: 

NYME: 

KCBT: 

NyFe: 


Qi tenon Beard of Trod* 

Chicago Men a mtite Exchange 
infonwlfonol MdMtafY Martwt 
Of CJUcapo Meruxillte Exchange . 

New YeRTCosae. Sugar, Coffee Exehan** 


New York Cotton Exchange . 
Commodity Exchange. New York 
New York Mercantile Exchange 
Kamos aty Board of Trade 
New York Futures Exchange 


save «*+54tM Pstx-Ssftte 
Pria te Im d*c jg s» » 

29 157 100 — *25 *45 — . 

30 102 233 — 60* *74 __ 

31 10 1)1 135 Ul 111 U 

32 *77 100 102 10* 1J4 -T 

33 *47 *97 LS2 109 227 — 

36 801 *73 113 287 — - 


Sep — 1080 1020 1060 1000 36 07t *73 113 7*7 . 

Nov — — _ 1070 1010 1050 1090 *4i UJ3 1,13 X87 

J£h 1010 1050 1090 Estimated fetal vsL 8371 

Mar — , . 1060 1000 1040 1080 cons: Man, VSL 4033 eeseleL 34266 

Volume: 0 lots at 25 ton* Pats ; Man. ML UfeHMtef. 1*521 

Saurco: Ae4H Source.- OWE. 


2.8% Growtibt Predicted 
For Canadian Economy 

Rouen 

OTTAWA — The Canadian 
economy will grow by Z8 percent 
in 1985, despite an expected trade 
slowdown to a U-bfllion-Canadi- 
an-dollar (5800-million) surplus 
this year, according to the Confer- 
ence Board of Canada. 

The board’s latest survey of eco- 
nomic forecasters said the rate of 
growth is expected to average 
about 12 percent in 1986, suggest- 
ing a sustainable ram of growth for 
at least the next 18 months. The 
lower trade surplus stems from re- 
duced exports to the United States, 
which buys 70 percent of Canadian 



























































































Page 19 



JNESS ROUNDUP 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


COMPANY NOTES 


ndard Chartered Shows 
Rise in ’84 Pretax Profit 


■ ■ • Reuters 

' - - ■ SON — Standard Char- 

. mk PLC reported Tuesday 

■ , * ' 4 pretax profit rose 8 per- 

m a year earlier, to £290.3 
{about $334 million at cur- 
^ : jes), but said net fdl to 

• • rnTtioa Cram £157 2 miflioD 

' ’ ; - ' doggo of a £i 50- million 

- ' or taxes. 

■ said it increased its 

as for bad loans by 26.1 

• V V- in the year, to £169 million 

34 miflioii, reflecting a cau- 
" ; - ■ cw of asset quality in all 
. ~ ' " -ading areas- 

* d it has nearly doubled, to 

' ; ffioa, its allocation for gen- 

' • visions. 

* . [ard Chartered said operai- 

* ' Its for 1984 reflect excellent 

• nance in South Africa, 
in the commerdal-ba 

; - j, and from its Union 

1 uy in California. 


But the South African contribu- 
tion to group results was reduced 
by a 23-percent depreciation of the 
rand against the pound. 

• Hong Kong operations recov- 
ered strongly from property- relat- 
ed problems seat in 1983. it said. 

Standard Chartered said its Ma- 
laysian operations also recorded a 
satisfactory profit increase. 

But Singapore's results were dis- 
appointing due to intensely com- 
petitive conditions. bad-debt provi- 
sions and a temporary loss of 
around £5 million on the bank's 
newly completed building there, it 
said. 

In Britain. Treasury and Euro- 
currency activities advanced again 
while commercial banking 
branches recovered well from the 
disappointing 1983 results. 

Standard Chartered shares rose 
to 469 pence a share from 457 
pence on Monday. 


Assets Up 10% 
At Swiss Banks 

Reuters 

ZURICH — A survey of 71 
Swiss banks showed assets 
growth during 1984 of 10 per- 
cent, due in large part to the rise 
in the doOar, the Swiss National 
Bank said Tuesday. 

In its monthly report, the 
central bank said the 71 banks 
surveyed normally represent 
about three-quarters of all 
Swiss banking assets. In 1983, 
the bank said, their balance 
sheets grew by 12. percent Vir- 
tually all of the difference be- 
tween the two years was due to 
the rising dollar, it said. 

Domestic loans rose by 9.5 
percent after 6J percent in 
1983. due to economic growth 
arid to an accounting change in 
which deposits ana loans to 
Liechtenstein residents were 
considered domestic positions 
for the first time. 


Searle, Maker of NutraSweet, 
Ends Its Search for a Buyer 


lot Angela Times Service 

LOS ANGELES — G.D. Searle 
& Co-, maker of the popular Nu- 
traSweet sugar substitute, said it 
has ended its search for a posable 
buyer of all or pan of the company 
and would remain independent. 

The Skokie, IUmois-based phar- 
maceutical company announced 
last September that it was explor- 
ing a sale at the request of the 
Searle family, which wanted to di- 
versify its 34-percent stake. Among 
the companies that expressed inter- 
est in Seme were Pfizer Inc^ Mon- 
santo Co. and Angus Chemical Co. 

Searle said Monday that its 
board unanimously agreed that the 
company should remain indepen- 
dent after studying various alterna- 
tives, including a numb er of un- 
identified proposals to buy the 
company’s businesses. 

Searle stock closed Tuesday at 


$47 per share on the New York 
Stock Exchange, a drop of $1.75 
from Monday, when it fell $8. 

Michael A. Martoreili, an ana- 
lyst with Janney Montgomery 
Scott in Philadelphia, said: “1 still 
think the reason for (a sale) falling 
apart is that they couldn't get the 
deal they wanted. They couldn't get 
the value from NutraSweet that 
they thought was there.” 

Donald Rumsfeld, Searle's presi- 
dent and chief executive, said in a 
statement that the decision was 
based on “the fundamental confi- 
dence we have in the future of the 
company.” 

He died the recent decisions by 
major soft-drink makers to switch 
to using NutraSweet In their diet 
beverages, the stan-up of a $130- 
million NutraSweet plant and 
Searle’s plans to launch its new 
Cytotcc anti-ulcer drug in Mexico. 


ish Aerospace 
£46*3% Rise 
retax Profit 

Reiners 

»i,. DON — British Aerospace 
: - , *1 Tuesday that pretax praf- 
V..';., :i 46J percent Last year, to 
■ mUioc (about $140 million 

- it rates) from £823 minion, 

-i :■ ; fadp of a weaker pound 
^ oger military sales. 

, one of Europe’s 
of planes, space 
and missile systems, 
isrose 7 percent from 1983, 
? bSEoa from £230 billion. 

~ ‘"--^d profit margins on sales 

d to 6.7 percent last year 
y » . . 3 percent, despite comperi- 

■ irOIJlf QJ mg conditions and a reduc- 
^ allowable returns on British 

{ sales. Profit on dvfl air- 
1 f anmned marginal, it said, 

^ * ‘'ratings on military aircraft 
ssSes were strong. The loss 
3 activities widened to £15 2 
from £142 milli on in 1983, 
-pany said. 

- esults, which were above 
. i inalysts’ expectations, 
the company s shares to 
ce a share on the London 
Exchange before settling 
385, up 5 pence from Mon- 
xc. 

jovemment of Prime Minis- 
- garet Thatcher plans to sell 
-percent stake in British. 
- joe in early May, but will 
i special interest to ensure 
change is made in provi- 
striedng foreign ownership. 


Braniff Tries Low-Key, Low-Cost Route to Profits 


(Continued from Page 17) 
enough that they don't constitute a 
threat to American " 

Braniff came into bong as a 
scaled-down carrier after The for- 
mer Braniff International filed for 
protection from creditors in May 
1982. Last November, after posting 
S81.9 million in losses in its first 
eight months, the new B raniff de- 
cided to seek, survival by cutting 
back still further and becoming a 
budget carrier. 

Patrick Foley, the vice chairman 
of Braniff, grounded 20 of 30 
planes and cut the work force of 
2,400 by more than half. He also 
brought .in as president Ron 
Ridgeway, a former senior vice 
president of customer services with 
the old Braniff, to revamp the 
smaller carrier. 

This lean approach was in con- 
trast to the ambitious strategy be- 
gun on March 1, 1984, when the 
□ew Braniff began service to 20 
dries with 30 refurbished Boeing 
727s. It had a kitty of $70 million, 
put together by Jay A. Pritzker, 
chairman of Hyatt Carp. After 
months of haggling. Mr. Pritzker 
persuaded creditor groups to rent 
the planes and take a chance on the 
new carrier. 

The primary goal was to attract 
the business traveler by offering 
belter food and roomier seats at 
regular coach prices while also sell- 
ing some discount seats in the back 
of the plane. 

That strategy failed dismally. 
The business travelers the airline 
had hoped to attract remained with 
the larger airlines, which offered 
more flights and had gained the 


loyalty through “frequent traveler” 
programs. 

“There were no other options” 
bur to try a different approach, Mr. 
Foley recalled recently. “We’d giv- 
en the concept enough time to see if 
it would work. We derided to make 


So far, the chang e has been 
working. Under the old strategy, 
the load factor, which measures 
bow many available seats are occu- 
pied, averaged 42J percent from 
March through October. In con- 
trast, Mr. Ridgeway said, the loads 
from November through Febroaiy 
averaged 64 percent, with a high of 
65 percent in February. 

At the same time, he added, 
Braniff has been able to reduce its 
costs. By May, be predicted, its 
break-even load factor will be be- 
low 60 percent Now, it is about 65 
percent 

A major expense that the airline 
has riied is the cost of 10 of the 2Q 
planes that were grounded last No- 
vember and remained parked at 
Love Field in Dallas, where Braniff 
has its headquarters. 

The company had to continue to 
make lease payments of $90,000 a 
month on each to BRNF liquidat- 
ing Trust, which represents the air- 
line's creditors. Braniff also had to 
spend $30,000 a month per plane 
on maintenance. 

“With all 10 of them puked out 
there.*’ Mr. Ridgeway said, “that 
was $12 milli on of unproductive 
costs going out the front door each 
month." 

He said that the carrier returned 
the planes to BRNF. 

Also, the monthly rental of 


$90,000 mi the remaining planes 

has become a bargain. The price of 
used Boeing 727s has risen from 
about $5 million a plane to more 
than S8 minion. The rise is mainly 
ascribed to falling aviation fuel 
prices, which have made the used 
planes less costly to operate. 

The airline, which has put 10 
more planes in service, also has 
built up its route system and is 
flying IS planes to 13 dries, with 
the other nve planes being used for 
charters. Still, it remains a shadow 
of its former self. At its height. 
Braniff International had 70 plunes 
flying to more than 50 domestic 
locations and an extensive network 
in Larin America. 

Mr. Ridgeway conceded that 
Branifffaoes stiff competition from 
such powerful rivals as American 
Airlines, which accounts for 65 per- 
cent of the travel at DaHas-rort 
Worth. While American has 11 
nonstop flights dally from Dallas 
to New York, and Delta Air Lines 
has seven, Braniff has limited itself 
to two. 

American tolerates Braniff be- 
cause it would lose more money by 
matching Braniff s fares than by 
letting the smaller anting have a 
limited fare advantage. Braniffs 
one-way, unrestricted coach fare 
from Dallas to La Guardia in New 


Yak, for example, is $135. com- 
pared with $344 for the large earn- 
ers. 

Large carriers do offer some 
much lower fares, but with restric- 
tions, such as a 30-day advance 
purchase requiremenL Such restric- 
tions make these fares less attrac- 
tive to travelers who cannot plan 
far ahead. 

Braniff also is seeking to spread 
its operations to areas where the 
competition is less fierce. On April 
28, Mr. Ridgeway said, Braniff w3I 
pot three to five of its planes into 
Kansas Gty, Missouri, for flights 
to Los Angeles, Phoenix, Arizona, 
Las Vegas,New Yak’s La Guardia 
Airport and National Airport in 
Washington. 

. “It’s a more humble approach,” 
said Robert Fornaro, the vice presi- 
dent of marketing for Braniff. 
“We're not looking to be a large 
hob-domina ting airline.” 


Qrina Offers 03 Price Hdp 

Reuters 

BEIJING — China will take ac- 
tive measures to cooperate with 
OPEC countries to stabilize oil 
prices, a Chinese envoy told the 
Venezuelan Foreign Ministry. 


Dteiston de la Soofitt de Gestioo 
Axiom Gestion du fends commun 
de plac e men* luxambourgeon 

ARIANE 

en date du 5 mars 1985 : 
fl sera payfe sur le rfaultat net de 
fexerdea 1984 un dividends de 
U.S. $9,50 per part Ce dividende 
sera pay* 6 partir du 27 mars 
1985 centre remise du coupon 
numAro2 des certificate au por- 
teur d h Banque Privfie &A, 
Succursale de Luxembourg, 
20, bd Emmanuel Servos. 

La part sera cotfe en bourse de 
Luxembourg ex-coupon 6 partir 
de cette date. 


Burroughs Corp. has extended its 
A-series of general-purpose main- 
frame computers to include the 
AJ5 very-large-scale system. The 
A15 allows users to expand pro- 
cessing capacity up to 70 times 
without changing software. 
Ggabotds SpA, the luxury hold 
hue sold to the Ag H 
Khan fa about 190 billion tire 
(about $92 million), according to 
Italian press reports. 

Citicorp wiD set up a trust bank 
subsidiary in Japan following To- 
kyo’s decision to let eight non-Jap- 
anese banks enter this sector, a 
spokesman of Citibank N.S. in To- 
kyo said. The bank has been nego- 
tiating a coopera] ' 
with Yasuda Trust 
Des Moines Register & Tr 
Co. said it would negotiate with 
Gannett Co„ publisher of USA To- 


chain. on the 
14-percent stake in Cowles Media 
Co., publisher of the Minneapolis 

Star and Tribune 

Enterprise 03 PLG the former 
ofi production arm of British Gas 
Corp^ posted pretax profit for 1984 


of £138.5 million ($162 million), up 
from £832 million in the last eight 
months of 1983, on sales of £266.7 
million, as compared with £1415 
million 

Exxon Corp, the world’s largest 
oil company, increased its world- 
wide reserves of (A and gas in 1984 
for the third consecutive year, its 
annual report said. Total produc- 
tion was up 5 percent, principally 
in the British sector of the North 
Sea. the Far East and the Gulf of 
Mexico. 

Fleet Holdings PLC said the 
planned bid for its share capital 
announced by United Newspapers 
PLC appears to have no merit, in 
the absence of any details. Fleet 
said there had been no discussions 
between itself and United. 

Redtitf & Cotman PLC posted a 
near 20-percent increase in pretax 
profit in 1984 to £106.4 million 
($124 million) from £88.76 milli on. 
Sales were £1.12 billion, compared 
with £981 million in 1983. 

SheOU-K. Ltd. made an after-tax 
profit of £383 million ($448 mil- 
lion) in 1984, an increase of 15 
percent over the previous year. Its 


airman, John Raisman, said the ’ 
results were pulled down by the' 
company’s oil manufacturing and * 
marketing divisions and would ' 
have been around £500 million. 

Stnloil, Norway's government-' 
owned oD company, is to buy Ex- 1 
xon's Swedish petroleum opera- - 
dons, subject to approval by the^ 
-Swedish government. Terms were , 
not disclosed. 

Texaco Inc., ranked third in the , 
U.S. oQ industry, had a sharp rise 
in net proved developed oil and gas 
reserves as the result of its S 10.1- 
billion acquisition of Getty Oil Co., 
according to its annual report. 

Thai Airways Col, the state- 
owned Thai airlines, has been given 
final approval by the government 
to buy two new Airbus A31O-20OS, . 
despite fierce competition from 
Boeing Co., a government spokes- 
man said. The airline already has 
five Boeing 737-200s in its fleet. 

Toshiba Cora, has signed a con- 
tract with China's government- 
owned Wuhan General Copying 
machine plant to provide technical 
a ssistance for the manuf acture of 
plain paper copiers. 


800% PROFITS - FACT OR FANTASY? 


Economists who belittle the American dream are oblivious to the North American quest for 
achievement In its relentless pursuit of ultimate excellence, the United States has been 
described as a daring experiment, one generation ahead of everybody else, the last word in 
modernity, the future that works, the next century. Even the inroads of Japan will not permanently 
fracture America’s vision of fulfilment 

The convulsions of Vietnam set back, but did not negate, America's “rendezvous with 
destiny”. Americans are emerging from the self-incriminating lyrics of the 1960’s, students have 
abandoned the “gospel” according to Bob Dylan, and are studying again, trying to blend 
materialism with non -dogmatic morality. 

We are not advocating a return to “Great Gats by" class distinctions or the capitalism mocked 
by Sinclair Lewis, but rather an enlightened fiscalism, combining Yankee thrift with creative 
avariciousness. 

In January 1982, our editors, mirroring the new mood in America, wrote... "We are adamant in 
predicting a massive bull market, repeating our thesis that the DOW NOW 790, WILL TOUCH, 
1,000, BEFORE HITTING 750, THAT BY 1983, 100,000,000 SHARE TRADING DAYS WILL BE 
ROUTINE ON THE N.Y.S.E, FOR THE LEAST EXPENSIVE COMMODITIES IN THE WORLD ARE 
BONA-FIDE U.SA EQUITIES. MOST OF WHICH ARE TRADING FAR BELOW REPLACEMENT 
VALUE OR FUTURE EARNING POWER. DOOMSDAY THINKING IS A HARBINGER OF BETTER 
TIMES, FOR EVERY BULL MARKET IS SPAWNED DURING THE NADIR OF SOUR ECONOMIC 
NEWS”. Our prophecies eventuated. Once again thecontrarian triumphed. And now? We believe 
the DOW will catapult over 1500. 

C.G.R/S current letter reviews four 'Big Board” corporations that may be Ingested by 
predators. In addition, we focus upon a low-priced stock with the potential to emulate a recently 
recommended “special situation' that spiralled 800% before a 4-1 stock split 

For your complimentary copy, please write to or telephone: 


r 

CAPITAL 

GAINS 

RESEARCH 

FPS. Financial Planning Services bv 
Kafversiraat112, 

1012 PK Amsterdam, The Netherlands 

Phone: (020) -27 51 81 

Telex 18536 

1 

! Name: 

1 ' 

| Address: 



i 

1 Phone: 



L_ 


n 

i 

t 


j 


Past performance does not guarantee future results 


r# it. ■; . 







#1. 




1984 ABC Group Results 


u 




Consolidated Balance Sheet 

31 December 1984 

Assets 

Liquid funds 
Marketable securities 

Deposits with bonks and other financial institutions 
Loans and ad\-anccs 
Investments in affiliates 
Other assets 

Premises and equipment 
Total assets 
Liabilities 

Deposits from customers 

Deposits from banks and other financial institutions 
Certificates of deposit 
Other liabilities 
proposed dividend 
Total liabilities 

Capital resources 

Term notes and bonds 

Shareholders' funds 
Share capital 

Reserves 

Retained earnings 

Total capital resources 

ihn| Hab flMcsand capital resources 


1984 1983 

US$ USS 

(in millions) 


362 

544 

4^62 

4*649 

29 

390 

119 

11,055 

1,810 

6,970 

532 

452 

45 

9309 


132 


15 

420 

4,742 

3358 

24 

187 

16 

8,762 

823 

6,617 


750 

348 

16 


1,1 14 

1,246 

11,055 


36 

750 

266 

12 

1,028 

1.064 

8.762 


rt’* • - 

’T' ’ 


l . rr - fcrt *- ! 

i '«**&*' 1 ■ 


Jr-/ V- ' 
r iV 
-» ■: ■ 

-V. 

»-■ - 


4 . 
1“' 


V 

i.V 

i ' 


At the Ordinary Shareholders General Meeting held on March 13, 1985, the Shareholders of 
Arab Banking Corporation (B3.C) ratified theaudited Financial Statements of the Corporation 

ending December 31. 1984 and approved the a ppropriat i on of net profiesas proposed by the 

Board ofDircctore as follows: 

Net profit for the year 10 ^ 

Retained earnings at beginning of the year *2 1° 

Profit available for appropriation 

Appropriations 

Statutory reserve 
General reserve 
Extraordinary financial reserve 

Proposed dividend • - 

Retained earning? at end of the year 


122 


11 

25 

25 

45 

106 

16 


123 

II 

25 

30 

45 

111 

32 


Four Year Growth & Group Subsidiaries 


ABC Group Growth 1981-1984 
USS millions 
15,000 


10,000 


5,000 


1.000 


200 


100 


« 

Total footings 


Total deposits 



< 

Net profits 
before provisions 


1981 1982 

1983 

1984 



Ratios 

1981 

. 1982 

1983 

1984 

Equity to total assets 

18.6% 

12.2% 

11.7% 

10.1% 

Equity to toed deposits 

23-6% 

14.4% 

13-8% 

12.7% 

Risk assets to total deposits 

40.5% 

43.5% 

50B% 

59-2% 

Loans over one year as % of deposits, 
bonds and shareholders' funds 

20.9% 

25-9% 

29.1% 

23-7% 

Return on average earnings assets 

2.8% 

1.8% 

1.4% 

1.1% 

Return on average capital 

142% 

15-3% 

14.3% 

14.7% 


The ABC Group 

Arab Banking Corporation (RS.C) 
(parent company ) 

Head Office-. Bahrain. 

Brandies; New York, Grand Cayman, London, 
Milan, Singapore. 

Representative Offices; Houston, London. 
Paris. Rome 


Banco Allantico&A- 
Head Office: Barcelona. 

194 branches thro ughou t Spain . 
8 overseas representative offices. 
Subsidiaries in Panama arvd Zurich. 


Investment Banking Group 
ABC Investment Banking and Services E.C 
Bahrain (underformation) 

ABC International Limited- London 
ABC Services limited - London 


Arab Ranking Corporation- 
Daus and Col GmbH 
Frankfurt and Grand Cayman 


ABC-Banqtae Internationale de Monaco 
Monte Carlo 


ABC Futures and Bullion Pte Limited 
Singapore 


Affiliates Inducting 

Arab Fin ancial Ser v i c es Company- Bahrain 
ArlabanklntenufionalEjC.— Bahrain 
Richard Dans and Co-Tfiist Company 
West Germany 

The Export Finn nee Company 
United Kingdom 


Arab Banking Corporation (RS.CJ 

Head Office: P.O.Box 5698, Manama, Btuuain.Tdephone: 23 2235-Telexi 9432 ABC BAH BN. 
Fora copy of the 1984 Annual Jteport, please coruaaibe Business DeivtopmenlDepartmetu at HeadOffice. 








INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


Tu esdays 

WIEX 


Closing 


Tables include the nationwide prices 
dp to the closing on Wall Street 
and do not reflect KM trades elsewhere. 

t'ia The Associated Press 


12 Month 
High Law Sloe* 


Div. VML PE IDOsHlan LowOuoLam 


f 


34k 1* 
26* 19 


5% 3% 

32% 10% 


» Vi. 
11% 7% 
Ml 52 
11% 13% 
29% 23% 
9% 5% 
14% Mk 
20 11 % 
25 15% 

■A A« 
11 % 8 * 
24* 13% 
9% 7% 
2<% 14Yr 
51% 33% 
10% s% 

17 % ttwi 
17% W* 
4% 3% 
19% 12% 

7% 2% 
7% 4% 
11% 3% 
2% ft 


5% 3% 
11% 12% 
20 13% 

4% % 

M% 10% 
1% * 
4% 1% 

17 % urn 
47% 37% 
n s% 
4% 3% 
IS W 
4% 1% 

n% io% 
4% * 

21% 11% 
31% 30% 
7 9 

34 n 


15% 11% 
25% 10% 


16* 

16* 

16* 

17% 

17* 

17* 

1* 

1 

1* 

U* 

n 

13* 


8* 

8* 

3* 

3* 

Mb 

13 

13* 

13 

46% 

4* 

44* 

7% 

7* 

7* 

4% 

4 


10* 

10* 

to* 

l* 

1* 

1* 

16V 16% 

16V 

S 

* 

* 

24* 34* 21* 
3H m 

3* 

2* 

2* 

33* 33* 33H 

33% 

33 

37% 

7 

** 

7 

W* 

15* 

15* 

W* 

IS* 

19*- 


% % 

W* 11% 

im aw 

n u% 

44% 3314 
3% 1% 
2 % 1 % 
W% 10% 
25% W* 
M 5* 
17* 14% 
W* 7* 


Unicore U 

U OKPPf J5 &6 
unmrn jo* *7 
UAtrP* Mil M 
UbCwP I50SU M 
upmoa to o rr 
UFooao s 

UtMM AW 4J IS 

USAOwt 

UMMV .*41145 W 
Untmn 40. 33 . 
UmCm U 

Wfltvei a 

UnvPn) 




» iS! 
™ jm i 


liS|: 

22 '«lMk\ 


9* S% 
U 10* 
27 15% 

2 1 
19% n* 
20% 1» 
44 2414 

5* 4% 
17% 10% 
U It* 
2* % 
11% 5% 
3% 2% 
13* ID 
IS 13% 
35 29% 

5% 2* 

H* 5* 

14* 9 


m 

16 

A8b 32 9 

36 

4 

8* 

12% 

8* 

12% 

1*— * 
12*— * 

M A 17 

173X18* 
U T* 

16* 

1% 

tr* 

IMxAT 

39T 4.1 n 

24 

19% 

19* 

19* 

iptpc 

UOb 6J W 

57 

19* 

w* 

19* 


J2 1J 17 

2*8 

44 

43* 43*—* 

a. 4i 5 

a 

5% 

S 

5V. + * 

J2 25 20 

1 

12% 

12% 

12%— * 

I'.T* -'B 

U0 1U 1 

1 

n* 

m 

13% 

leas 


41 

i* 

i 

1 

iBchots 

7 

n 

IM 

w* 

TO* 

Wk 

20 

2 

2% 

2% 

2*—* 

tordRa 

8 

* 

n% 

11* 

11* 

ioCOOfl 

r 

37 

K* 

M 

16 + * 

UPSpf 

4JS 05 

nat 33* 

32* 

32*— * 

luKren 

* 

a 

3* 

3* 

3*+ % 

ludPl 

8 

22 

9% 

9* 

946+ * 

lUlDOC 


m 

9% 

9* 

9%+ % 


2 2D S 
13 a 
nsr 1 J 2 
25 a 
.10* 44 8 1504 
23 

40 75 

11 10 
a ua 12 
9 177 
40 11 

J71 L7 10 12 

.12 U 22 10 

225 
112 
18 3 

a* 34 29 51 

488 1 


107% W9 
6% 6% 
3 3 


2% 2* 
38% MU 
9% 9% 
20* 20% 
2 1* 
9% 9% 
8* 8* 
12 * 12 * 
3% 3 
1 * 
8M 8% 
10* 10% 
4* 4* 
2 2 
8* 6* 
1% 1* 
25 24* 

32% 32% 
3% 3* 


JOB 24 22 11 


109%—% 

6%—* 

3 

12 *— * 
2% 

2% 

38* 

9% 

20 *—* 

2 

9Yz 

8* + * 
12 * , 

^*-iF 

10H+% 

4* 

2 — * 
&*— * 
J%— * 

&*-% 

3* 


16% OEA 
14* Oakwd JDBO 
4 Od lUB 
4H OdctB s 

18* Molod 40 
9% DUNS .24 
3* OOMep 


5% OriotH A .15 
5* OnoOt B 2D 
1 Orruand 
71* OStifha J2 
8* OxdrdF XU 
7* OwrtH 20 


12 a 
40 20* 

27 | 

a w% 
i me 

34 15* 

29 4% 

1 7* 

II 8* 
n 7* 
u 1% 

3 35* 
11 Nh 
183 9* 


22 % 22 % — % 
19% 19%—* 
m 7*—* 
10 * 10 *— % 
19% 19% — * 
14* 15% + % 
• 4% + % 

7* 7* 

8* 8*—* 

7 7* 

1* 1*— * 
35% 35%+ % 
9 9 — U 

9* 9% 


77% IT* Jacfyn 20b 04 9 
9* 5* Jacobs 

5% 2* JttAm 5 

2* * JetAwf 

S% 4* Jetron 491 52 17 

6% 2* John Pd 

11* 7% JahnAiK 20 23 18 

7U 4 JmpJkn S 


2 14*- 14% 14% 

27 - 6% 6% <*— % 
135 Wt 2% 2* + U 

11 ft % * 

15 8% 8* 1% + * 

19 4 3* 4 + Vh 
339 10% W% KM— U 
22 4% 4* 4% + % 


3* 1% 
16* 9% 
17% 10% 
9% 5% 
17% B 


Km nkr 6 

KearNn 40 3.1 14 
KBtcJwn J8t 34 
KevCo 2D 22 
KavPtl 20 2.1 16 


20 2% 2% Vh 

1 13 13 13 
72 17 14* 17 — % 
7 7* 7 7*— * 

2B5 9* 9* 9%— % 


19 11% 

15* 9 
9* 5 
4* 2% 
19* 17% 
19% 9* 
8% 4% 
13* 10 
25 10* 

6% 4* 
15% 9* 
2* 2 
22% 13* 
34 IB* 
36% 25% 

12 4* 
5% 2% 

13 7% 
11* 5% 
43* 38 


CDJs 9 

CUB 20b 12138 
CMI CP 
CMXCP 

CRS 24 2.1 17 
CoesNJ 16 

COSISA 4 

CoJRE 128 10.1 8 
Calmtn 20 22 23 
Gallwtn 

Cameo 22 22 9 

Ccmpnl 

CMarco 28 

COiiOcc M 

cwm* >o 

Cardiff 

Cardll 

Cares 15 

Careen 17 

CaraPaf 520 122 


2 18% 
a 15% 
8 8* 
7 2% 
16 16% 
U 12% 
30 5% 

102 12% 
a 20 % 
22 4* 

« 15% 
12 Z* 

a u% 

i zi% 

1 32 
96 S% 

2 2 * 
4 11* 

82 10 
lOr 41% 


18% 15% + * 
15* 15* 

8* 8*— U 
2* 2%— * 
18* 18*—* 
12% 12*+ V. 
4* 4*— 1 
12* 12*+ M 
20 * 20 % 

4* 4* 

15* 15*+% 
2* 2* 

14* 14*+ % 
21% 21* + * 
32 32 

8* 8% — % 
2% Z*+ * 
II* 11% 

10 10 
41% 41% 


n* 

0% FPA 


76 

72 

11* 

11% 

11*+ * 

22% 

16* Fob Ind 

AO 13 

7 

5 

17* 

17* 

17* 

5* 

2 FoIrmC 



3 

3* 

3* 

3* + * 

11% 

J* Fkfata 



138 

6* 

8 

6*+ % 

11 

9* FtCarat 

1j00o 95 

7 

4 

10* 

M* 

10* 

30 

18% FtFSLn 

50b 25 

7 

39 

30 

29* 

30 + VI 

13% 

11 FWvmB 

50 U 

11 

29 

12* 

12% 

12% — % 

18 

7* FRcGE 


4 

40 

0% 

8* 

B%+ % 

27% 

22% FltGEpf 4 jOO 165 


14 

24% 

23* 23*— * 

43* 

24* FlaRck 

JO V 

10 

22 

42* 

42 

42 — * 

30* 

22* Fluke 

1J8I £2 

11 

18 

28* 

26* 

26*— * 

13* 

6% Foodrm 


10 

10 

10* 

10* 

10V)— % 

10 

7% FooteM 



Z1 

9* 

9 

9 + * 

9* 

4* FHiNJG 


20 

IN 

B* 

8* 

8*+ % 

112 

68* FanKnd4jOB 


2O0Z 98 

N 

N 

27* 

is ForstCB 

m 5134 

2 

21* 

Zl* 

Zl*+ % 

24* 

11% FarestL 


31 

127 

17% 

17* 

17% 

2* 

% Fotoml 



422 

1% 

1* 

1*— * 

<3% 

29 Frantz 

1J0Q25 

16 

8 

39% 

39% 

39% 

8 

4% FrdHIy 


45 

6 

6% 

6% 

8U+ * 

26 

14 FraaEi 


18 

5 

22* 

22* 

22*— % 

10* 

7% Frledm 

JBb 3J 11 

15 

8* 

8* 

B* 

9* 

5 FrfesEn 



269 

8* 

8* 

8*+ * 

IB* 

9* F liana 

JO xs 

10 

17 

IB* 

18 

18 — * 

14% 

8% FmtHd 



74 

14* 

14 

14 

7* 

4* PrtAwt 

.171 2 A 


2 

8* 

6* 

6*— * 

19* 

10% FurVttn 


15 

145 

17% 

17 

17 — % 


W 5 
1 * 1 % 
8* 7* 
4* 2U 
5* 3* 
8* 3 
3* 3* 
IS 8* 
15* 8* 
27* 21 


KorCo 9 

KayCa wt 
KeyCaun 
KWdewt 

Klnark 21 

KJrtjy 

KJsarVs JUr J 
Knaao IS 

Knoll 14 

KOMrC 232 85154 


115 6* 8* 6*+* 
27 m 1* l*+» 
38 7% 7* 7%+ * 

77 4Vi 3* 4U + * 
15 4* 4% 4*— * 

193 3% 3% 3* 

52 2% 2% 2% 

75 13% 13 13 — % 

14 13* 12* 17*— M 
92* 26% 26 26* 


Wt 4% GRI 

4* 2* GTI 30 

17 9* GolaxC 7 

- 3* 1* GalxyO 48 

33 24% Goran 1 - 2 D 4.1 9 

IBM 8* CalUt 

10% 7 Goylrd 13 


56 5* 5* 5*—* 

30 4 3* 3* 3% 

7 18 11% II 11% 

46 165 2% 2* 2% 

9 4 29* 29* 29% 

65 9* 9* 9*— * 

13 7 7* 7* 7*— * 




1 * * •* 

■ttl 

3 \\ 

49 ** W 
I 4lt Tk 
" •% *> 
“ 2s a 

* r j* 

» KiT 


Well P** 4#P 


9 

4* 

4* 4* . 

1 

6% 

6% 4%+% 






15 

10 

.[» IS 28 


14% 

5* VanfcCo 

9 

10 

6* 

6% 

5* 

4 Yordny 

58 U 13 

U 

8% 

5% 


7% 
2% 
13* 
33* 
3% 
7* 
1* 
77* 
2 

21% 
8% 
16% 7* 
5* Z% 
8% 3* 
W% 

11 * 

10* 

22 % 

14* 

3* 

7% 

10 


9% 4* 
12% 7* 
12% 8* 
19* 11% 
10* 7* 
8% 6* 
14% 3% 

2% 
9% 


3% 
20 % 
1S8 9* 

151 10* 
IN 3* 

21 5 % 

32 5* 

420 10* 
114 7* 

23 20 

152 
56 2% 

4* 
3% 
55* 
0* 


in Hie Trip. 


Start off your 


investment week 



on Eurobonds. 


9* 5 RA1 


6* 6* 6* 


6% 2 USR ind 
24* 8* Ultra* 


5 3* 3* 3* 

0 161 10* 10* 10* +.* 


Over-the-Counter 


March 26 


Solos In Kef 

IBM HUM) Low 3PJ*.am 


NASDAQ National Market Prices 


Seles h IM 

180s HMl Law 3P.JM.Cim 



BBDO 220 47 62 47% 46* 47 

BPlCm 12 1* 1% 1% 

BGS 27 8% 8% 8% + V* 

gPI SV 98 3 2* 2*—* 

BRCam 81 11 10* 10* + % 

BalrdC 20 7% 7% 7%— M 


*JL| 


7* 7* 
17% 17* 
19* 19* 
9% 9% 

6* 6* 
8 * 8 * 
3* 3* 
8% BH 
11* 11* 

3S 3?. 

7* 7* 
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oo Page 2 






















































































































iy 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


Page 21 


’t •• 
* . * 

• * * t *. 

* •" ■ 

a ? a « . 

«M .. 

" a - ■ ■ 


Chemical Establishes 
elux Unit in Brussels 


Over-the-Coimter 


March 26 


* j r v 

: r* * . i 
T t - „ 

15 * T ■; 

is* J 

is "* . : - 


*•; Lynne Curry 

■* : dona! Herald Tribune 
N — Dow Chemical 
* : established a regional 
adquarters in Brussels 
xs id the Netherlands, 
■g »nd Belgium, and has 
. as of appointments. 

. iso named Hass Zing' 
ally based in Brussels, 
►nl and director of em- 
idoos and external af~ 

■ Dow Europe effective 
sently regional manager 
o, he will move to Hor- 

. rfand, where he wH suo- 

■ t Hammond and will 
- pOTSible for the cotnpa- 

nament relations. Mr. 
is retiiing later this 

; also appointed Lee Du- 
ally based in Horgan, 
eat and general manager 
wly formed Benelux re- 
. nntly vice president re- 
“ ■ or Dow Europe’s r^ioa- 


al activities in Italy and Yugoslavia 
and for the company's product 
flow and purchasing, he will begin 
his new job in Brussels on April 1, 
replacing Mr. Zinggeler. 

Pedro Rein hard, presently 
DCl?s director of finance, has been 
appointed vice president and gen- 
eral manager of the Italian region. 
Based in Horgan, be will move to 
Milan, where he will take over Mr. 
Dupuis responsibilities. 

DCE has also named Roberto 
Sabbioneda commercial director 
for the I talian region. 

Frank Hoff has been named di- 
rector of finance to succeed Mr. 
Ronhard. Mr. Huff will remain in 
Horgan, where he is currently di- 
rector of business research for 
DCE and of global trading for Dow 
Chemical Co. 

DCE has also appointed as vice 
president Denis WBcock, DOS's 
research and development director. 
He win r emain in Horgan 

Ericsson Group, the Swedish 
telecommunications com pan y, has 


t - *’* 

i ‘ "t u 

I * * 


n to Sell Company Stakes 


1 I *;■ 


S + » 

r+ jm 


t =* - 

a $ 4^ 


a ». 

V * ** r, 

i « - •: 
: ft". 


lit 

. 1 . 


• * ,■ Ttrk Times Service 

— The West German 
3 rit approved Tuesday 
m. its stake in 10 sute- 
-v, companies, including 
. the national airline, jm7? 
-.. s a, the country's largest 

* M 

he (dan, Bonn would re- 
take in f-nfthanw to 55 
'"am 795 percent, and in 
•j'a, to 14.1 percent from 

ci i have estimated the di- 
'could xml between S600 
* jd $700 million over the 
•ears. 

^ar, Bonn sold its 13.75- 
ake in the big Veba ener- 


gy concern, raising the equivalent 
of $235 minion. 

The divestitures would barely 
scratch the surface of Bonn's inter- 
est in about 900 German compa- 
nies. But it is the first rime a Euro- 
pean government, outride Britain, 
has embarked on such an undertak- 
ing, and the plans mark a drastic 
break with traditional postwar 
German industrial policy of direct 

involvement in business. 

Gerhard Stdtenberg, the finance 
minister, noting that the govsn- 
ment's stake would be “considera- 
bly reduced,” said it was “entirely 
conceivable that we will withdraw 
altogether at a later dale.” 

The government’s healthy ma- 
jority in the legislature virtually as- 
sures the plan's passage. 


ADVERTISEMENT— 

INTERNATIONAL FUNDS 

r Quotations Supplied by Funds Listed 
26 March 1985 

SwtvttotouotBtteMulww w b rt Bw^ M P i iUwnnrlimHwWi mf e wUa itw 
■ «f sum faadc whose quotes art based on Isue stick. Tho Mtowtea 
[steal symbols Iwflcate froqoencr of ouataTtoM supplied ter tho IHT: 

Mtr> (wl-waektr; aa- bS— m t: (r)-raaatertv; (U-Irmalartv. 

iuamaoememt 
td Trusts A SUTJS 


appointed Ian Steoberg, amenity 
executive vice president, as head of 
business area public telecommuni- 
cations effective July 1. He will 
remain in Stockholm, succeeding 
Ove Ericsson. Mr . Ericsson is retir- 
ing from 1 ns executive position but 
wm retain some customer respoasi- 
bfliries. 

TASA International AG, a Zu- 
rich-based executive search firm, 
has added two new partners, Jean 
de Ladonchamps and Manu el Car- 
tines, to its operations. Mr. de La- 
dauchamps las joined the office in 
Paris, where be was previously with 
the Ecole Potytednaque. Mr. Cor- 
tices has joined the company’s Ma- 
drid office. Mr. Cortines was for- 
merly the managing director of La 
Papdera Espaflola. a paper manu- 
facturer in Madrid. 

Ptmnaacia AB, the Swedish pha- 
maceutical and biotechnologies 
company, has appointed Lars Ek- 
strom managing director of Phar- 
macia Ltd, the group's British sub- 
sidiary. effective June 1. He will be 
basea in Milton Keynes, outside 
London. Mr. Ekstrom has been 
managing director of SCA Pulp 
Sales International Ltd. in Britain 
for the past three years. 


Competition 
Seen as War 

(Continued from Page 17) 
disquieting that so often recently 
there is analogy to war. It’s danger- 
ous t ermin ology that can have 
more impact than was intended." 

According to same psycholo- 
gists. war toms are negative moti- 
vators. 

“It is totally unhealthy for execu- 
tives to have to create an enemy 
from without,” said Cary Cooper, 
professor of oreamzatiorral psy- 
chology at the Umveirity of Man- 
chester Institute for Scien ce and 
Technology. “Do we need to put 
people on a war footing to gpt moti- 
vation and productivity?” 

Most executives agree with Mr. 
Kotler that Japanese companies 
can take a long-term marketing 
view that U5L and European com- 
panies cannot. Under pressure 
from .bankers, shareholders and fi- 
nancial analy te, U.S. and Europe- 
an companies arc overly concerned 
with short-term profits. 

“One thing I can say is that Japa- 
nese marketing tends to place the 
emphasis on long-term planning," 
said Mr. Takahashi of Nomura Re- 
search. 


Ttw lonAw Tnti»r nffl*MWl Kmh. 

■cud Futures Exchange has elected 
Brian WflHamson chairman »mf 
David Burton deputy chairman. A 
managing director of Gerrard & 
National PLC, Britain's largest dis- 
count house, Mr. WBfiamson re- 
places John Baiksbire, the chief ex- 
ecutive of Mercantile House. Mr. 
Burton, who succeeds Michael 
Mayo is a director of SG Warburg 
& Co. Rosalyn Wilton, a director 01 
Drexel Burnham Tjtmlwr t T s d ,, 
was also elec ted the first woman 
member of LIFFE’s board. Mrs- 
Wntoc leads DBL’s London insti- 
tutional financial futures division 
and is also head of the occhange’s 
planned Eurodollar options com- 
mittee. 

Merrill Lynch & Co. has ap- 
poinied Dooald C Roth diaimum 
of Merrill Lynch Private Capital 
Inc. Presently based in London as 
rfiaimuin of Merrill Lynch of Eur- 
ope/ Middle East, Mr. Roth will 
take up his new post in New York 
in late spring. 

Kofrin China Investments i*fl f 
has appointed Roger Williams as- 
sociate director in London. He was 
previously based in Begins as man- 
aging director of Shell China 


Trade Deficit 
Grows in UJL 

Reuters 

LONDON — Britain’s risi- 
ble trade deficit widened to 
£270 million (about $3105 mil- 
lion) in February fiom £76 mil- 
lion in January, the government 
said Tuesday. The surplus in 
the current account, which 
measures trade in goods and 
services as well as inrerest, divi- 
dends and certain transfers, 
narrowed to £131 million in the 
month, down from a revised 
£341 tniBipn in January. 

Exports rose to a record £65 
billron from £654 billion, while 
imports increased to a record 
£7.17 bfllioD from £6.62 billion. 
Government sources said they 
blamed the deterioration in the 
February trade figures on an 
adverse ad balance. The ofl sur- 
plus fell by £247 mifli nn in Feb- 
ruary, to £681 million, as im- 
ports rose and expons fdL 

The deficit on manufactured 
goods narrowed to an estimated 
£279 million in February from 
£394 million in January, the 
government report said. 


NASDAQ National Matlwt Prices 


‘hi Not 

ft HMi Low JPM.CVOO 


(Cootinned from Page 20) 


wm css 













Lu^kJv-, 


Lteyotinn . 
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Floating Rate Notes Man* 26 


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S3 1 ft 
S 7ft 7ft 
42 3m 39ft 
4629ft 29ft 
31 9ft 9ft 
12313ft 12ft 
2310ft 9ft 
Mia ia 

18 7ft 7ft 
I 6ft 6ft 
26 6ft 53* 

10 41% 4ft 
53 5ft 5ft 

11 10ft 17ft 
1080 Bft 1ft 
2005 7 

09 6ft 6 


Wft + ft 

tn%— ft 

17ft + ft 
9ft— ft 
14ft— ft 
17ft— ft 
31ft— ft 
Zlft+ ft 
35ft +lft 
15ft 

12ft— ft 
57 -fib 

3ft 

7ft + ft 
39ft 

2fft+1% 

9ft 

12ft— ft 
10ft 

10 

7ft— 1 
6ft 

61 % + ft 

Oft 

51% + ft 
17» — ft 
•ft 

6ft— ft 
6ft + ft 


i in 

■ Hteft L 
144 5ft 
203 *ft 
1185 27ft 
5 3ft 
156 10ft 
2513ft 
320 
64021ft 
131 » 

1 U 
10539ft 
1022 
12619ft 
22714ft 
2M> 6ft 
2710 
M 5ft 
1918ft 
174 5ft 
109 5ft 


Net 

nr 3 AM. am 
5 Sft 

in% iS%+ ft 
n as + ft 

20ft 21 +1% 

19 19ft 
’•ft 

B B=S 

17ft 10ft + ft 
51% Sft— 1% 
Sft Sft 





220 Sft S 5 — 
793 9 Oft Oft + 
440712ft 114% lift— 


Y1o%vn 1 JO 3.1 2063 32 314% S +4% 

YoftFtf MU 76 13ft 13ft 13ft— 4% 


17 4ft 4ft Oft— ft 
28924ft 23ft 24ft + ft 
6 54% 3ft 3ft— ft 
U 8 lift lift lift— ft 
14 MftBTft 17 37 

62 44% 4ft 4ft 
MM Sft 5ft Sft + ft 
32 23711 10ft 10ft— ft 
465 2ft 2ft 2ft -Hi 
20 14% 1ft 14%+ ft 


apnUl 124 

MM 

Zlirod 

Zendwi 24 

Zyinci 

Zytnx 


WHAT WOULD UFE BE LIKE 
wm-raur IT? 


l Vi 3 r J z J 1 »] 


EACH FRIDAY IN THE HT 


IS YOUR BANK SAFE? 

TS* bank hofiday for 71 banks in Ohio (5.1 bn. S aaaetsl b the toughest 
measure since the Groat Depression. Internation a l problems are even 
mare difficult with about 970 bn. $ debt (less developed countries). The 
budget deficit in the U5. of about 200 bn. $ seems to be small in 
comparison to Hus huge amount which threatens the in ternational 
banking system. Comparison: Earnings of all U.S. banks were about 
1 5 bn. $ lost year. This is about 1 .5 % of international debt which grows 
every year by about 1 5-20 %. b Your investment safe? 
finanmmdie is the biggest newsletter in Engfish language in Germany 
aid Switzerland. We have reco mm ended to switch to stocks with very 
high asset values and very good eam ai g s . Many up pre dul cd by over 
100%, Thu means that you have an excellent risk/rewardrotio. Whie 
you have o good appreciation potential in extremely cheap German and 
Swiss stocks (at an extremely low currency price you do not have the risk 
of losing your money in firae deposits. Subscribe far a trial subscription of 
6 months. Please enclose cheque ($50). 


Rnanzwodia, Dr. Jan* B iHtordf, 

P.O. Box 6365, D-8012 Otfobr — n (Munich) Germany. 


NOTICE OF EARLY REDEMPTION 


Kingdom of Sweden 




U.S4 110,000,000 

Floating Rate Notes Due November 1988 

Notice is hereby given that in accordance with 
Clause 6(a) of the Toms and Conditions of the 
Notes, the Kingdom will redeem all of the 
outstanding Notes at their principal ammigy on 
23rd May, 1985, when interest on the Notes will 
cease to accrue. 

Repayment of principal will be made upon pre- 
sentation of the Notes with all unmatu red 
Coupons attached, at the Offices of any one of 
the Paying Agents mentioned thereon. 

Accrued interest due 23rd May, 1985 will be 
paid in the normal manner against presentation 
of Coupon No. 9, on or after 23rd May, 1985. 

Bankers Trust Company, London 

Fiscal Agent 

27 th March, 1985 


We are pleased to announce the following elections 

Mwnagino Directors 

John K. Hepburn, Investment Banking. London Peter J. Ogden , Investment Banking. London 

Geoffrey W. Picard, Fixed Income. Myo 


Principals 


Miguel J. Caparros , Investment Banking. London 
Dengs C. Firth, Investment Banking. London 
AlanM. Goodhill, International Equity. London 
John H. Murray, Investment Banking. Sydney 


David I. Neeson, International Equity. London 
Toshio Ozeki, Investment Banking. Tbkyo 
Kenneth P, Urban , Fixed Income, London 
J. Steven Ward, Fixed Income. London 


Vice Presidents 


George. A - Clark, Fixed Income. London 
Karl P. Essig , Capital Market Service a. Tbkyo 
Patrick J. Foley, International Equilg. London 
Kohei Hotta, Administration. Tokyo 
Frederick B, Kroat, III, Fired Income. London 
Richard J. Kyle, International Equity. London 


E, Bertil Jtydevik, Investment Banking. London 
Michael G. Stout, Fixed Income. London 
John J. Studzinski , Mergers and Acquisitions. London 
David C. Sumners, Foreign Exchange. London 
Toyohcau TsatSUU Institutional Equity. Ibkyc 
Robert C. White hand , Fired Income. London 


Antony W. Wood, Fixed Ineome. Tbkyo 


MORGAN STANLEY 


Commercial Union Building 
P.O. Box 182 

1 UndershaJU Leadcnkall Street 
London ECsP SUB, England 

March 1685 


MLC Centre 
Martin Place 

Sydney. N.S. W., 2000 Australia 


Ote Center Building 
1~S, Otemflchi l-ehome 
Ckiyoda-Ku 
Tokyo-Tb 100 . Japan 

































«s StfSW.'S 58 IS 5W??I5 ?^5??!m«IiKEC5W?SJ?lfWKr5JJ V*\ 


f 




Page 22 


INTERNATIONA! HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 



PEANUTS 




I LOVE THE SOUNDS 
OF BASEBALL.. 

7C 




#0>Xr° 










7-zr 


BOOKS 


MAXWELL’S TRAIN 


Jy CArfflcpter ffwfe -7J /p. 5/5.95. 
VUiard, 201 East 50th Street. 

New York, N. Y. 10022. 


trips ca American „ 

put his miles on the trades to 
the switchyards in Caprttd. 



ird 



1 ( Vnt* 




Reviewed by Martin Morse Wooster 


BLOND IE 


'j' RAINS have long been the preferred 


3/27/B5 


ACROSS 


1 Generally 
regarded 
8 Musical form 

15 Issue 

16 Account 

17 Balearic island 

18 School at 
Annapolis 

19 “ pro 

nobis” 

29 Draws back 

22 French article 

23 City on the 
Danube 

24“ tu,” 

Verdi aria 

25 Lake Balkhash 
feeder 

26 Moral code 

29 Large quantity 

30 Stone pillar 
32 Perform again 
34 Rome’s SL 

John 

36 Queenly 
Spanish name 

37 Sleep phenom. 

38 Autocrats 
42 Ready 

46 Diminish 

47 Average 

49 Union unit 

50 TV network 

51 River in Devon 


52 Germ cells 

53 Liq. measures 

54 library 
procedure 

58 Tennis term 

59 Members of a 
pride 

61 Analgesic 

63 Descendant of 
Esau 

64 Celestial 
gateman 

65 Stripper 

66 Toadies 


DOWN 


1 This hits the 
spots 
2Kinofa 

sheikdom 
3 Flair 

4Niimero 

5 Salts 

6 Engrave 

7 “Mommie 

— rc. 

Crawford book 

8 Pertaining to 
the skull 

9Sfaucks! 

10 Shamrocks* 
cousins 

11 Divest, as of 
pests 


12 Cezanne had 
one 

13 Clam’s plate 

14 Heavenly 
21 Wrath 

27 All thumbs 

28 Hiawatha's 
craft 

30 Lennon’s “ 

and Glass” 

31 Allegro, e.g. 

33 Klndof biidor 

call 

35 Travel abbr. 

38 Spotted 

39 Hit song in 1953 
40W.W.Ipoet 

41 He wrote 
"Astrophel” 

42 Laundry verb 

43 Altar boy 

44 Glutton 

45 Some beetles 
48 What the king 

of diamonds 

hay 

54 Victoria's 
physician 

55 Diminutive 
suffix 

56 This precedes 
helium 

57 Canter 
60 Labor org. 

62 Blue Hen St. 





BEETLE BAILEY 


THE 6EHERAL 
IS BACK PFOtA 
BIVOUAC, MRS. 
HALFTRACK 


SDY CAPP 


© JVbmj York Times, edited by Eugene Molesko- 


DENNIS THE MENACE 



REX MORGAN 


LIKE 1 SAID. CLAUDIA — 


THESE FRIENDS OF MINE DO DEAL— BUT 
NOT AT THEIR HOME? BEFORE YOU LEAVE 

TDMIftKT TUPV1 1 filXflr vn»l A PUrHJF? KJI IAARPT? / 

THEYTL DELIVER WHATEVER YOU WWT !/i 


r THATS THEIR TT AND REMEMBER ONE THING ' 

I HOUSE UP ■ ONCE YOU STEP THROUGH 
AHEAD ' THE FRONT DOOR. YOU'RE THEIR 
OAypcrcf evFPv-ruikKVC n?PP / 


'SttYA LATER.. -I'M G0N’ OVER TO THE WILSONS' 
AN 1 LISTEN TO SOME FATS WALLER.* 


Unscramble these loir Jumbles, 
one letter to each square, to form 
four ordinary worts. 


ARDOH 



— p 1 

in 


CYZAR 


znz 

_L 


GALENT 


nr 

JU 


SUMOTT 


□L 




WHAT THE 
TIKEC? SWABBIE 
WAG LOOKING 
POKV/ARPTO. 


Now arrange the cfrcted letters to 
form the surprise answer, as sug- 
gested by the above cartoon. 


^■ rnnnmi 


Yesterday’s 


(Answers tomorrow) 

Jumbles: MESSY TWEET SALOON HEREBY 
An3wen Some people who are worth e lot can still be 
this— WORTHLESS 


WEATHER 


EUROPE 

HIGH 

LOW 


ASIA 

HIGH 

LOW 



C 

F 

c 

F 



C 

P 

c 

P 


Ataarva 

21 

70 

8 

46 

CJ 

Bangkok 

35 

95 

34 

75 

fr 

Amsterdam 

11 

52 

5 

41 

0 

Bolltno 

12 

54 

2 

36 

0 

Altraas 

11 

64 

13 

55 

a 

Hong Kang 

23 

73 

19 

66 

r 

Barcelona 

19 

66 

17 

63 

fr 

Madia 

34 

93 

24 

75 

fr 

Bafprada 

17 

63 

2 

36 

d 

new Delhi 

36 

97 

19 

66 

fr 

Bertto 

12 

54 

5 

41 

r 

Seoul 

13 

S3 

4 

39 

0 

Brussels 

11 

S 

7 

45 

0 

sannobal 

15 

59 

7 

45 

st| 

Batin rast 

14 

57 

5 

41 

d 

Singapore 

31 

BS 

24 

75 

til 

Wmlnprrf 

15 

59 

3 

37 

cl 

TWpal 

27 

81 

17 

63 

fr 

Cooenkaoefl 

8 

43 

■1 

30 

r 

Tokyo 

19 

66 

13 

55 

a 

Costa Dai Sat 
DaMln 

22 

9 

72 

48 

12 

-1 

54 

30 

fr 

cl 

AFRICA 






Edlabarak 

8 

46 

-1 

30 

d 

Algiers 

19 

66 

7 

45 

fr 

Florence 

18 

64 

3 

17 

fr 

cmro 





no 

Frankfurt 

93 

55 

6 

41 

sh 

Capo Town 

27 

57 

17 

63 

fr 

Geneva 

15 

59 

4 

39 

d 

Casablanca 

18 

64 

8 

46 

0 

Helsinki 

3 

37 

-2 

28 

sw 

Hurure 

24 

75 

16 

61 

0 

Istanbul 

11 

52 

7 

45 

0 

Laoat 

30 

86 

21 

70 

a 

lbs Palma 

22 

72 

15 

59 

fr 

Nairobi 

27 

81 

15 

59 

fr 

Lisboa 

17 

63 

8 

46 

d 

Torts 

17 

63 

9 

48 

d 

Loaded 

9 

48 

4 

39 

r 





Madrid 

15 

59 

0 

32 

d 

LATIN AMERICA 



MBoo 

15 

59 

8 

46 

a 

Baanas Aires 




"l5 



Moscow 

6 

43 

-3 

Z7 

fr 

24 

75 

59 

r 

Munich 

15 

59 

1 

34 

fr 

Lima 





no 

Nice 

15 

99 

9 

48 

tr 

Mexico CHy 

25 

77 

7 

45 

d 

Oslo 

3 

37 

0 

32 

0 

Riode Janeiro 

31 

tt 

24 

75 

0 

Paris 

10 

50 

8 

46 

r 

Soo Paula 

— 

— 

— 

— 

rta 

PraoM 

■larklavfk 

11 

•1 

52 

30 

2 

-7 

36 

19 

o 

fr 

NORTH AMERICA 



Rome 

n 

83 

6 

43 

d 

Mdnrega 

0 

32 

-1 

18 

DC 

Stockholm 

i 

34 

D 

32 

a 

Atlanta 

22 

72 

5 

41 

fr 

Strasbourg 

15 

59 

8 

46 

r 

Boston 

8 

46 


27 

fr 

Venice 

13 

55 

5 

41 

d 

Chicago 

17 

63 

1 

34 

fr 

1/Ieana 

15 

59 

3 

37 

a 

Denver 

30 

M 

6 

43 

K 

Warsaw 

14 

57 

0 

32 

d 

Detroit 

15 

59 


28 

tr 

Zurich 

14 

57 

4 

39 

d 

Honolulu 

27 

81 

21 

70 

fr 

MIDDLE EAST 




Houston 

Los Angeles 

25 

19 

77 

66 

13 

12 

55 

54 

DC 

PC 

Ankara 

10 

50 

0 

32 

d 

Miami 

23 

73 

5 5 

13 

fr 

Beirut 

19 

66 

11 

S2 

a 

MlanoapqW 

12 

54 

2 

36 

pc 

Damascus 

— 

— 

— 

— 

no 

Montreal 

2 

36 

_g 

18 

Ir 

jorusaiem 

19 

66 

4 

39 

fr 

Nassau 

27 

81 

18 

64 

fr 

Tel Aviv 

23 

73 

9 

48 

fr 

Near York 

11 

52 


30 

fr 

OCEANIA 






Son Francisco 
Seattle 

14 

9 

57 

48 

6 

7 

43 

36 

r 

r 

Auckland 

20 

68 

14 

57 

r 

Toronto 

5 

41 


25 

tr 

Svdnev 

19 

66 

17 

63 

a 

Washington 

15 

59 

2 

36 

fr 

ci-cioudy: tatagoy; fr-falr 

; trtiall; 

o-averensi,- penartty 

ckwdyi 

r-raini 

ah-shgwors; sw-tnow: : 

H-jlgnTW. 








WEDNESDAY'S FORECAST — CHANNEL: Very ehoopv. FRANKFURT: 
Ralnv. Temp. *— t 148 — 431. LONDON: Rainy. Temp. 8—4 (44—39). 
Madrid: Portly etoudv. Temp. 14— J Ul — 34). NEW YORK: Fair. Temo. 


17—4 im — »). PARIS: Ralnv.Ternp.jO— I (50—41). ROME: Partly dourly. 

- ’ “ 25—8 (77— <~ 


TjHJfcW— ♦ 144—43), TIL AVIV: pprtry dwdy. Temp, 25—1 Of— *6. 
zurich: .Rainy. Temp. 7_— 4 (45— 39). ^BANGKOK: Foobv. Ten*. 35—27 


(re— 81). HO NO KONG: ChMdv. Tome. 26-20 179— 48). MANILA: Gaudy. 
Temo. 34 — 25 fa— 77). SEOUL: Rainy. Tern®. U — 2 (57— 36). SINGAPORE: 
Star my. Temp. 31— 24 (88— 7SL TOKYO: Cloudy. Temp. 20— 5 148—41). 


W>rkl Stock Markets 


Via Agence France-Presse March 26 

Gating prices in local currencies unless otherwise indicated. 


ABN 

ACF HokUng 

Aegon 

AKZO 

Ahold 

AMEV 

a ‘D am Rubber 
Amro Bank 
BVG 

Bueh r morei T 

CafandHtde 

Ehevler-NDU 


Gist Brocades 
Heine ken 
H oag oven s 
KLM 
Neanlen 
Not Nedder 
Nedllayd 
Oco VanderG 
PoMiood 
phinp» 


RadamcB 
Rtrilnqo 
Rarenta 
Royal Dutch 

Unilever 

Vm Oueiieren 
VMF Stork 
iVNU 


407 404 

197 JO 197 
185 185 

10450 109.10 
21430 219 

214 21450 
450 745 

7430 75A3 
.217 21730 
8430 07 

3fi 3440 
112 113 

10450 105 

10330 18270 
15450 15450 
5430 5M0 
5440 5440 
4750 48 

69 JO 4930 
181 183 

31250 31450 
49 JO 6440 

&£ %% 

6410 ^4480 
44.10 44 

WM0 19550 
341 342 

30 3420 
14850 14850 
20050 300 


ANP.CBC 


Artwd 

Pg koart 

Cockerlll 

Cobepa 

EBES 

GB-mno-SM 

GBL 

Gevoerl 

Hoboke n 

Intercom 

Kredlertwnk 

Petrofina 

Soc Generate 

Softno 

So Nay 

Traction Elec 
UCB 


1730 1760 
5930 5930 
260 274 

3505 3600 
3100 3100 
2350 3430 
3000 2075 
3873 4150 


UBEK 


Montagna 


2225 2250 
1400 MS 
67J0 6680 

2000 2035 

7670 7(80 
4410 4500 
4250 4250 
5300 5378 
1740 1740 
6350 6370 


Qnreet Stock Index : 227156 
Previous : 229140 


AEG-Tetahinken 11050 11170 
Allianz VafS 1054 10W 

Basf 
Bnvtr 

Bayer .H yp o. . 
Baw.ver.Bank 
BMW 

Commerzbank 
CenllouRim) 

Oabmer-Beiu 


Deutsche Babcock 
Deutsche Bank 
Drasdntr Bank 


203 20170 
213 213 

349 345 

333 331 
WJOWUO 
16420 16630 
13540 136 

05 477 
362 364 
141 141 

443 44&50 
189 190 


□UB-Schull 

GHH 

Hochtief 

HOKttt 

Haaech 

Hoizmann 

Horten 


21070 212 

157 15660 
472 472 

207 208 

110.10 111 
393 as 
146 141 


1 Close 

•rev 

Kail + Sab 

2SS247JD 

Karvtadt 

21] 21150 


222 

222 

KJoedener H-O 

25050 251-50 

Kloockner Worfce 

7430 

74 

Krupp Stahl 

105 

im 

Undn 


415 

Lufthansa 

195 

194 

MAN 

153 15050 


14250 1A45D 

Motollpeflellschpn 25B 

261 


1179 

1160 


274 27458 

Ruataers-Worka 

330 

331 

RWE 

15350 15350 

Schering 

4S5 

455 


533 

53460 

TOl 

Thyraen 

101.00 



Vebo 

17950 179-58 



123 

Voflcswaeanwork 

201 50 201 50 


j Prevfeas : 1 J0230 



|| HonglTwiI | 

Bk East Asia 

2140 

2X40 

Cheung Kona 

UA0 

13A0 

China Ugh) 

1410 

141 D 

Crass Harbor 

9 AS 

9J0 

hoop Seng Bank 
HK Electric 

4450 

7.15 

4750 

770 


32 

3250 

HK Land 

483 

490 

KK Shanghai 

HK Talaphona 

855 

70 

KAO 

7130 

HK Wharf 

520 

5J0 

Hutch Whampoa 

19.30 

30 

Jvdlne Math 


935 

Jardlne Sec 

955 

970 


6 

403 


1225 

370 

SHK Props 

SAD 

480 

Slrrw Darby 

MS 


Stotux 

1A0 

1.S4 

Swire Podftc A 

2L90 

2150 

WheelockA 

7JU 

7.18 

Whaetock Mar 

SUSP. 

m m 

Wlnsor 



World IntT 

172 

178 

Haao Song Index: 

Previous : 136233 

1344.13 



A EC 

730 

730 

Anglo American 

2400 

2400 

Anglo Am Gold 

16500 

6500 

Barlows 

1B2U 

iai7 


1625 

1675 


7900 

7W0 

De Beers 

965 

970 


5250 

5250 

Etands 

1530 

1550 

GFSA 

3025 

3050 

Harmony 

2950 

2925 

Htveht Steel 

392 

390 

Kloof 

7675 

7625 

Netitxsik 

90a 

930 

presStayn 

5800 

wn 


T705 

1700 


630 

630 

St Helena 

3150 

3700 


570 

575 

Wat Holding 

6400 

6400 

CemeotOe Stork fDdax :997M 1 

Pravtoas : 1801 JO 



1 ^-4- N 

AACorp 

512 J17W 1 


174 

176 

Anglo Am Geld 

582 S84W ■ 


Battacfc 

Bordovs 


Close Pre* 
144 


BJLT. 
Beotian 
3 ICC 
BL 

Blue Circle 
BOC Group 
Boom 

Bawater Indus 
BP 

Bril Home St 
Brit Telecom 
Brit Aerospace 
B TR 
Burn lull 
Coble Wireless 
CodburvSchw 

Charter Coni 

Coats Patans 
Commercial U 
Cons Gold 
CourtauMs 


992 

539 


370 

344 

41 

510 

300 

170 

254 


240 

1301b 

398 

704 

206 

$25 

160 

200 

159 




522 

147 

490 

477 

257 


323 

S25V, 

192 

22S 


2S3 

250 


251 


211 

415 

791 

192 

317 


211 


7H 


170 

273 

143 

332 

427 

346 

298 

196 

219 

*96 

3S5 

590 

367 

431k 

641 

900 

300 

705 

198 

449 

430 

244 

409 

224 

336 

148 

213 


Distillers 
Drleftxihhn 
FTsons 
FieeStGed 
GEC 
GKN 
Glaxo t 
Grand Mat 
Gubumn 
(HIS 
Homan 
Hawker 
ICI 
Imps 
Jaguar 
Lloyds Bank 
Lonrtio 
Lucas 

Marks and Sp 
Midland Bank 
Nat West Bank 
PMO 
Pilklngtan 
Plessev 
Roeol Elect 
RondfonMn 
Rank 
Peed tall 
Reuter* 

Royal Dutch c 

SootcJil 
Satasbury 
Shell 
STC 

swChartered 
Tata and Lyle 
Tosco 
Thorn EMI 
T.l.arouo 
Trafalgar Hy 
TNF 

Ultramar 

Unilever E 12 5/3212 13/64 

United Biscuits ISO 181 

Vickers 259 260 

W.De*p So 540M 

wjioMlnss S S3 

War Loan 316 c 35U 3Sta 

WNhnrtti 40 4M 


146 

332 

627 

348 

300 

194 

214 

996 

354 

590 

367 

iM 

662 

905 

302 

711 

198 

457 

435 

246 

422 

230 

340 

149 

216 


F.T. 30 index : mat 
Previous : 989 JO 


Milan 


Banco Comm 
Cent rale 
Cteahafets 
Cradlhri 
Farm! talk! 
Ftaf 

FlnsWer 


T72D0 17500 
3410 3600 
8250 8416 
2100 21 50 
11500 11780 
3000 3045 
52 532$ 



Close 


Generali 

43700 43300 

IFI 

8105 

8210 


82900 83200 

Italmotjiuort 

71808 73700 

Medtobonco 

84500 85000 

Montedison 

1508 

1508 

OtivaHi 

6850 

6000 

Pirelli 

2199 

2215 


AMI7P A6J00 

Rlnascentn 

66850 66825 

SIP 

2002 

2008 

Snia 

2810 

2855 

Standa 

12130 11980 

Stef 

2455 

2442 

Imib Current index: 1211 


[ Previous : 1220 



ill »■** 1 

AirLtauido 

635 

635 

Atothom AfL 

295.10 

298 

Av Dassault 

1290 

1231 

Bancnlrr 

599 

600 

BIC 

537 

543 

Bouvauos 

BSH-GO 

618 

2330 

623 

2335 


1969 

1970 

OubMed 

1199 

1194 

Goflmeg 

27970 

278 

Dumez 

585 

586 

EH-Aaultalno 

235 

240 

Europe 1 

945 

949 


580 

576 

Hotitetta 

1890 

1900 

ImefoJ 

106l» 

102 


460 45850 


2125 

2085 


2420 

2430 

Matro 

1765 


Mlchetln 

935 

948 

MM Permar 

9450 

96 


ms 

1940 


T10AQ 1I1J0 

Nord-Est 

S2AQ 

82 


720 

732 

Pernod Rlc. 

673 

677 

Potrafss (fse) 

26B 26750 

Peugeot 

289 

m 

Podaln 

49.95 


Prlntemps 

222 

22S 


266.10 

269 


1298 

1299 

Roussel Udat 

1708 

1690 

Skis Rasstonol 

1920 

1935 


527 



2535 



S3S 

548 

Valeo 

233 

225 

Apoff index : mie 


Prevfeas : 28X38 
CAC Index : 2BA 
previous : 2ifJ 



|| Sin&vece 1! 


TAB 

)A9 

CoM Storage 

X64 

7A6 


625 

625 


570 

42S 

Haw Par 

235 

2A3 

liKtieapg 

N.Q. 

177 

2AB 

ITS 


6 

6 

0C8C 

9JS 

9 AC 

DUB 

278 

376 


1J7 

ITS 


LM 

1.98 


1.18 

1.19 

Sf Trading 

434 

478 

UOB 

456 

438 

(TUB Index : *1778 
Previous : 419A8 



11 Steckkalai 11 

AGA 

NX). 

3E 


m 

187 

Asad 

360 



N.Q. 

370 


104 

IDS 

Batlden 

222 

220 


22S 



296 





Handelsbonktn 

169 

MS 







Sandvlk 



Skanska 

90JO 

B9j0 


SKP 

S wi dta hM a tc h 

Volvo 


Close Pre* 
205 206 

216 217 
341 245 


Attaersvoertden ledex : RUi 
Previous : 39AM 


ACI 
AN I 
ANZ 
BHP 
Sorot 

Bougainville 
Brambles 
Coles 
Gomatco 
CRA 
CSR 
Dunlop 
Elders Ixl 
Hooker 
Mogeltan 
MIM 
Myer 


196 196 


451 456 

594 604 


320 
200 207 


383 .... 

378 375 


265 265 

600 614 


PokO 
Poseidon 
RGC 


204 

316 

172 

240 

394 

ITS 

77 


395 4U 
340 340 


sieiah 

Southland 


465 465 

600 5te 


180 

27 

iao 

360 


An ordlnaflas Index : 817X8 
PrevfcM : 821 -28 

Source: Reuters. 


Tohya 


uam 

Full! 

Fulft 


Asahi Chem 
Asahl Gian 
Bank of Tokyo 
Bridgestone 
Canon 
Clloh 

Dai Nippon Print 
Da ton House 
Bank 
Photo 
■tu 
Hitachi 
Honda 

Japan Air Lines 
Kollma 
Korea! P ower 
Kawasaki Stad 

Kirin Brewery 

Komatsu ltd 
Kubota 

Matsu Elec IndS 
Matsu Elec Works 
MOsubWiI Sank 

Mitsubishi Chem 
Mitsubishi Elec 


485 500 

865 133 

B96 90S 

834 837 

535 532 

1420 1460 
330 331 

1050 1Q5D 
556 STO 
1640 1650 
1800 1S2Q 
1330 1380 
840 867 

1390 tOO 
5670 5930 
275 275 

1380 USD 
ISO 149 
sm 518 
477 465 

322 326 

1550 1630 
715 796 

1600 WJ 

459 42S 

403 3*8 


mode of transportation for mystery and 
els. The at 


suspense novels. The apoelinng prospect of 
describing a closed world of sedate elegance 
has tempted writers fnMJ Mari: Twain ip Da- 
vid Wesiheimer into novels or stcries featuring 
a train as a vehicle for intrigue and romance. 
Who. after all would ever dream of ‘The 
Great Bus Robbery"? . 

In his fifth novel. “ Maxwell's Train," Caris- 


con&tandy referring to Conrail as-CS* 
cdL" Nonetheless, Hyde has done wb* 
this book. 1 wwild have considered an in 
Ne task —he has restored the train as m 
of intrigue. Wc may be long past the c 
freshly plucked roses in (fining-room vas 
thriller fans can be confident that, iht 
this entertaining newel, trains can $ 
packed with Un-brandishing thugs ao 
senger cars spiked with deadly amW 


-4 


IWi 


m 






Think about that the next dme you 
train ticket ... 


topher Hyde has combined a caper with a 

thriller. A 



terrorist thriller. Assume that every Saturday, 
the Federal Reserve ships 535 million from 
Washington to Boston on Arotrak’s Night Owl 
in a lightly guarded revamped Railway Post 
Office. For Harry Maxwell, former drug couri- 
er and current maintenance man for Amtrak, 
the shipment represents the last chance to 
make something out of himself, to cap a life of 
merciless failure with a brief.jjlorious success. 


Martin Mom Wooster, Washington e . 
Haper's magazine, mw this renew j 
Washtnpon Post 


’M- 


BESTSELLERS 




Maxwell however, is not the only criminal 
interested in the shipment. Pitied against him 
are a gang of terrorists, including Japanese Red 
Army members, Sandinists, Baader-Mrinhof 
types, Libyans trained in convened Nazi bases. 
I talian Red Brigade commandos and assorted 
assistant felons, temporarily united as the 
“Worid People’s Army." 

.One does not read this son of thriller for 
insights into character or new reflections into 
die way we live. Hyde is not John le Carri or 
Charles McCarty; he paints his characters in 
the broad, shallow strokes preferred by most of 
his competitors in the action-adventure mar- 
ketplace. His terrorists are as ruthless, and as 
empty, as mad slashers in modem horror films, 
differm dated from each other only by the 
language in which they choose to swear. Max- 
well ana his thieves are typical burned-out ’60s 
hustlers. The only memorable characters are 
Ronald Moubrown and Wanda Margay, two 
train buffs who provide brief glimpses of com- 
edy in the midst of the relentless action. 

One reads thrillers of this type, after all, for 
two reasons: first to participate vicariously in 
organized schemes agains t authority; second, 
for dramatized reportage about submerged as- 
pects of the world. 

A biographical note to “Maxwell’s Train" 
states that Hvde “has made 18 coast-to-coast 


TtoN4wYo*TiMi 

Tbatoiabnedoarm om from acre ibxn LOOOt 
itimgbMf Ac United 5nis. Weeks on tarn Ht{ 

•maccutive 


TW 

Wrtk 


FICTION 


IF TOMORROW COMES, by Sidney. 

family album, by DaaxBc sted 


THINNER, by Riebird Bachman 

. bv Elmore Leonard __ 


GLITZ. I 


INSIDE. OUTSIDE, bv Hcnnaa Wank 
SEE YOU LATER ALL' 


lua F. 

THE 

Godwin 


IGATOR. by Wfl. 

Jr. 

G SCHOOL, by Gail 



MEXICO SET. by Len Daghiaa 


PROOF. bvDick Fi 
HUNT 


THE 
Tom Chocy 


FOR RED OCTOBER, by 




II MINDSEND. by Robin Cook 


12 THE SICILIAN, by Mnrio Paw 


HOTEL DU LAC. bv Anita Breokner _ 
THE TITAN, by Fted Muuard Stewut u 
VIRGIN AND MARTYR, by Andrew 
Greek* 


r«*N 


NONFICTION 


1ACOCCA: An Aniotoopapby.by Lee U- 

cocca wiA WEDiaxo Novak 

BREAKING WITH MOSCOW, by At- 
k jkJv N. Sbevcbcuko 

LOVING EACH OTHER, by Leo Bascag- 

lire 



CITIZEN HUGHES, by Mkhftd Droadn 
5RNTNC 

Evan S. CooaeD 


SON OF THE MORNING STAR, by 


THE BRIDGE ACROSS FOREVER, by 

Richwd BmA - , 

^SURELY YOITRE JOKING. MIL 


Solution to Previous Puzzle 


Is 



□□□ □BQQD □□□ 
QEQQ 03000 330 
DD0D303l3SDana0 
□□□Ban □□□□□ 

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□□□03 naHaa 
□□□□□a □□□□□□ 

aaaaa aaaaa 

EQQ □□□□□ □□□□ 

QBaao^aaaaao 

□□□□a aaaaaa 

□□oaoaaaoaaaao 
iino aaaan a®aa 
□□□ □□□□□ □□□□ 


FEYNMANN," by Richard P. Fcymuna 
THE SEVEN MOUNTAINS OF THOM- 

AS MERTON, by Michael Mott 

THE COURAGE TO CHANGE, by Dot-' 
ms Whole* 


MOSES THE KITTEN, by I 
CRY OF THE KALAHARI. 


DdhOvu. 


Hcrriot 
by Mart 


12 A LIGHT tN THE ATTIC by 
stem 


Sbd ABOARD 


is 


DISTANT NEIGHBORS, by Alan Ridinj 
THE ABANDONMENT OF THE JEWS 
by David & Wyman 
■THEC 


GOOD WAR," by Studs Tetkd 
ADVICE, HOW-TO AND 
>WN. 


r Robert G.ABes 

WEIGHT WATCHERS QUICK ST* 
PROGRAM COOKBOOK, by Jem 
detdi 


WHAT THEY DON'T TEACH Y 
HARVARD BUSINESS SCHOOL,' 
Mark H. McCormack 


3/27/86 


THE ONE MINUTE SALES 

by Spencer Johnson and Larry Wihoo 

WOMEN COMING OF AGE by Jaaif 
Fonda with KCgnon McCarthy 


BRIDGE 


By Alan Truscoct 


O N the diagramed deal 
South took into account 
the fact that his opponents 
were both fine players and 
were likely to defend accurate- 
ly. So when his one-spade bid 
raised to the two-level, he con- 
tented himself with an invita- 
tion of three spades rather 
thap bidding a gain**-, as he 
would have done against lesser 
opponents. North chose to 
pass, and South’s caution 
proved to be justified. 


the diamond lead and with the 
ace, crossed to the trump 
queen and threw his remaining 
diamond on the heart long. He 
ruffed the last diamond, 
crossed to the trump jack, and 
ruffed the last hean. 


beatable. But that 
ly a difficult coni 


The opening lead of the 
ack was c 


The scene was now set for an 
end-play. South cashed the 
club ace — & play he should 
have made earlier — and 
played another club. This 
would have end-played West, 
but he had seen die danger and 
dropped his king under the 
ace, holding South to nine 
uicks. 


heart jack was covered by the 
queen and aoe. East shifted to 


Nobody noticed that three 
no-trump would have been un- 


1 Close 

Wrww. 

MnsuMsM Heavy 

279 

268 

Mitsubishi Carp 

530 

529 

Mitsui and ca 

363 

339 

MHsukoshl 

425 

426 


1020 

KM 

NEC 

1130 

1160 

NGK Insulators 

imo 

1030 

NDdcoSoc 

815 

811 

Nippon Stool 

153 

154 

Nippon Yusen 

243 

2(8 

Nissan 

656 

648 

Nomura Sac 

1320 

1250 

Olympus 

1210 

1250 

Pioneer 

26W 

2000 

Ricoh 

910 

930 

Sharp 

1030 

1040 

Sony 

4460 

4650 

Sum Romo Bank 

MOO 

ISM 

Sumitomo Chem 

215 

210 

Sumitomo Metal 

154 

155 


207 

711 

TaishoMortno 

455 

455 

TakaOa Chem 

tso 

144 

Tdk 

5790 

<020 

Tallin 

435 

CD 

Tokyo Eloc. Power 

1680 

1680 

Tokyo Marine 

877 

■90 

Toruy Ind 

441 

449 

Toshiba 

412 

412 


1300 

1340 

YamaltiilSee 

841 

825 

NBdikl/DJ. Index 

1248415 

Previous : 12537.91 



l Now index : HnE 


I PravtoM : 188572 



ii n 

Adlo 

2780 


Bonk Lou 

3620 

3620 

Brown Bovarl 

1660 


CR>o Geigv 

2950 

2950 

CradH Suisse 



Electrowatt 

2888 


Georo Fischer 



interdbODunt 

1920 


Jecob Suchanl 

6440 


Jelmoil 



Landis Gvr 

1725 


Nestle 



OertikiMvB 

US5 

IMS 

Radio Babv 

•925 

nw 

Sandai 

7950 

7950 

Schindler 



Sulxer 







1165 


Swiss Refessursnce 

9650 


Swiss VoUewank 

1440 

1440 

Un ton Bank 

3715 

3715 

Wlntorltnir 

4325 


Zurich Ins 

21350 21350 ] 

SBC Index : 418.18 



Pravtoas : OEM 



NA: not auotad; 



avanoMe; xd: ox-dlvidond. 


AT&T Offers New PC 


Return 

NEW YORK — American Telephone & 
Telegraph Ox introduced Tuesday a new per- 
sonal computer, a variety of other office auto- 
mation products and an inexpensive network 
linking them. 

It also introduced enhancements to its AT&T 
PC6300 that make it faster and more powerful, 
‘'bringing customers the benefits, features and 

e .r_ . x ■ un i _ i - n 


functions of today’s PC, bin at a lower price" 
' ' " “ kT&TPC 


than the popular IBM computer. The A1 
is priced form $5,095. 

The company said it introduced a new class 
of office workstation, the AT&T Unix PC 


March. 26 


Cana&ui stock* via AP 


1654 AMI Prca 
ITKMAaritoJE 
17890 Alt Energy 


Hie* LoarCknaCbge 

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2200 Altai... 

31 Alga Cant 
10B2 Algoma St 
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37 Argus C pr 
9 Asbestos 
1000 Atoo I f 
4406 BP Canada 
19391 Bank BC 
143494 Bank NS 
BSDOBarrtdco 
200 Baton A f 
3 9115 Banana R 

*755 Brotom* 

noBramataa 

4314 BCFP 
25320 BC Rn 
18820 BC Phone 
13816 Brunswk 
1300 Budd Can 
14250 CAE 
800CCL A 

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35287 cad Frv 
1*300 C Nor Wad 
1771 C Padua 

7704 can Tnuat 

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41508 Cl BkCom 
7400 Cdn Nat Rat 
71399 CTTraAl 
6000 C UNI B 
100 Cara 
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900 Colon 175 p 
2900 C Dlstb A 
3100 CD Mb Bf 

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SWOCasefcaR 
2000 Crown* 

4000 Czar Raa 
34827 Doan Dev 
l50QOoanA 
8 003 Dantaqn A p 
27897 Danism B » 
4400 Dev* Icon 
2400 Oickren Af 
500 Dtcfcnsn B 
24149 Dafasea A 
142 Du Pont A 
7131 DvttX A 
4300 Eldhom X 
21075 EquItV Svr 
3500 FCA Intf 

&$£££ 

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3500 F city Fin 
100 Fraser 
1200 Fruefxxif 
UMOGandlaA 
2300 Gaoc Comp 
13600 Geacrad* 
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27D3 Gotdenra) 
200 Gaodvear 
755 GU Forest 
500 Gt Pad He 


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3816 IK 81b — lb 
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SI 298 12% 12U 
150 142 146 

SI 518 15U 15Vr — 98 
425 415 420 +5 

49* 498 495 +S 

Sim 1798 1718+16 
SM 16 918—16 
243 219 243 +2 
SZ1% 2116 2116 
ST5V5 1516 1518+ 16 
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539 18 39U> 
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524 34 26 

Onk 2738 Z7H 
S1W8 1016 1086—16 
365 264 245 +3 

on 9j8 ?n+n 

S716 A 
S42 4186 

58986 8986 
531 31 


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714 Howtcir 
3072 Hayes D . 
3434 M Bov Co 
33270 imasca 
5100 IMOI 
100 1 nails 
600 Inland Gas 
1600 mil Ttan 
29046 Inter Pine 
110 Jamacft 
2KamKatta 
7610 Kerr Add 
13457 Ldbatt 
40476 LOC Mnrte 
loauontCam 
MSOLseana 
5425 UL Lac 


SM 


52086 

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S17V8 

52814 

ST284 

515*8 

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8100 Melon HX 


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18*8 1586-98 

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S11 11 11+96 

106 1» 106 - 5 

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53018 2946 2918+ 18 
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sun ran nn+n 

53316 3216 3316+196 
S1746 1798 1798— n 
SIM 9M 9886+ 16 
230 2g 230 —5 


3900 Mcrtand E 
2785MoEsaa Af 
900 Motion B 
zmOMurativ 
1700 Nabdca L 
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27209 Narcan 
6IU7 Nva AHA f 
1500NOMCDW 
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3620akwaad 
19600 Oskawa A f 
3150 Pamour 
1800 PanCan P 
400 Phanlx OH 
2250 Pina PoW 
lKOPiacaOOa 
41467 Placor 
370 Pravloo 
4400 Oue Slurp o 
2200 Ram Pet 
6400 Ray rack t 
4240 WadpoBl 
197807 RdStanftsA 
1857 ReMnbaM 
1342D0 Ras Sarv f 
2574 Ravn PUPA 
464 Rogers A 
4300 Raman 
SSMSrartiw 
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119128 Soon Can 
37697 Shad Can 
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500 Swlnfro 
65194 Sydney o 
14300 Tafcoep 
ZHOTara 
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noTaiadvna 

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56250 Thorn N A 

37*4 Tar Dm Bk 

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1364 Traders A f 
60STrnsi 


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50 Unicorn Al 
UOUnCarWd 
19989 U eirtprba 
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500 van D«r 
57*40 Verstl Af 

3400Vaataran 

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2MCIL 
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200478 NOtBkCda 
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1200 RodandA 
12412 Royal Bank 
325 RoyTrstco 




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doonbkkt 

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0 5. 

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aui>. 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


Page 23 


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International Herald Tribune 

JNDON — For an extinct 
i, the center forward is hav- 
m almighty impact on world 
ar. 

-ound halftime in the wild 
ring that has consumed Bar- 
ia all week. a slender, blond. 
' t-bearded figure skipped the 
-slapping with the excuse 
ins country needed him far 
Id Cup dnty. 

aybe so. but whoa Steve A r- 
. aid returns from Scotland, lit- 
?! | \'~y millions of Catalans will be 

Iob Hughes 

ing. He is the hero, the gpal- 
a, on a side that after 1 1 tong. 

has recaptured 
title. 

xanseofhhn, and because of 
caching tactics of Teny Ven- 
s and Alan Harris (Londcn- 
as misunderstood and mis- 
led as he was last summer), 
e fanatics have even sewed 
union jade into the Catalan 
Capitalize, while ye may. 
.France, where they say there 
no forwards (only (lie best 
5dd on earth), Bernard La- 
be is stroking Bordeaux to- 
i another league champ ian- 
> and a European Cap 

ifwiail against JuventUS. 
acombe stands 1.71 metres (5- 
-7), weD short of the six-foot 
itumal center forward. But 
more goals from him during a 
rout of Auxeree suggest that, 
is 33d year, the persistent La- 
be is finally getting the hang 
le finishing game, 
jventns has Pablo Rossi, the 
t feted goal-poacher of all 
n Italy won the 1982 World 
i. Strange how Italians — pay- 
, kings’ ransoms to Rosa, to 
omenigge. Maradona, Zico 
even a strapping young En- 
unan. Mark Hatdey — have 


been slow io warm to Preben Elk- 
jaer. 

The trig, angular, awkward- 
-Iookmg Dane deceives them al- 
most as much as their old war- 
horse Francesco Graziani did few 
years on the national t«tm Elk- 
jaer scored again as Verona 
stretched to five points clear in 
the Italian championship last 
Sunday. 

Many good judges thought Elk- 
jaer the most effective center for- 
ward in last summer’s European 
championship. Yet the Dane went 
to Italy as an afterthought, for 
$1.6 million — a quarter of Mara- 
dona’s cost to Naples, a third of 
Rummemgge’s to Inter-MOan. 

The she*? allure of Maradona 
and Rummenigge (and lately 
their scin tillating hurts of form) 
can attract three-quarters of a 
million dollars at the gale — and 
while Rummenigge has long led 
West Germany it is something 
new for Araadna to gamble on 
the volatile Maradona as captain 
for the World Cup qualifiers. 

Maradona brought excitement 
to Barcelona last year. He scored, 
be was butchered, he fought, of- 
ten literally, into the headlines. 
But he never achieved what Ar- 
chibald has by reliable prodding, 
by a stealth that makes opponents 
and sometimes the crowd ques- 
tion whether he was there at aH 
They know at Tottenham, where 
he played last season: The Spurs 
are pushing for the English title 
— but from second place, for 
want of a center forward who 
scores oftener than he misses. 

“You either have the knack of 
scoring goals or you don’t,” ob- 
serves the Scot “I have. Fm abso- 
lutely at ease with both feet. Fm 
sharp, I have nerve and I get the 
ball on taigeL I also love the chal- 
lenge of proving myself in a new 
environment” 



VANTAGE POINT/ John Feinstein 


1984-85: Season of the Big East 

t Pair Semce 

InaHy, the 

□d a "legacy. 

: up in Nove 




m m TV« l— n oal il *r— 

An airborne Steve Archibald, ripping a shot for Barcelona in Spanish First Division play. 


The best two cento- forwards in 
Britain are both Welshmen — 
Liverpool's Ian Rush and Man- 
chester United’s Mark Hughes. 
Though only 24, Rush has been 
around for years, and Hughes has 
burst out of Manchester’s re- 
serves to see off the nrillion- 
pound oppoatibn with his tenac- 
ity, his pace, his angte- niinHwd- 
ness. 

En gland may alen be . 

ing too much of a good thing i 
Tuesday it played the Republic of 
Ireland with not one but three 
center forwards — Hatdey pins 
new caps Chris Waddle to his left 
and Gary I.mrtrar to the ri ght 

Two of Engjanris’s substitutes 
were center forwards — ArsenaFs 
aging leader Paul Mariner and 
Nottingham Forest’s learner Pe- 
ter Daveport, like Waddle a late- 
comer to the professional ranks. 

They Bright reflect how fickle 
the role can be. Exactly ayear ago 


Luther BHssett, then an England 
foward, was being ridicoled by 
Milan President Giuseppe Fau- 
na. who, diiatisfied with Blissetfs 
three goals in 22 gam**, com- 
mented: “The lesson is we shall 
not buy any more English play- 
ers.” 

He did precisely that and 
basked, for half a season anyway, 
in the goals from his next mulion- 
pound acquisition, Hateley. 

Is England so overburdened? 
Doubtful, but Uruguay could do 
with any spare goal power. The 
South American champion, and 
among the favorites to win the 
1986 weald Cup, Uruguay lost a 
h n rising match m Chi le this week 
and finished almost as wounded 
as the referee, who was twice hit 
by missiles. 

Uruguay must win in. Ecuador 
on Sunday (against a no-hoper it 
^ed past wifi) a last-minute 
at home) or even qualifica- 


tion is lost And all 
more was expected of 


much 


ch Omar Boons must wonder 
where he went wrong with a 
squad he has trained in 
since January. 

Perhaps it is because he sees no 
center forward, no main man? 
“My land of player,'* Berras told 
me, “doesn't need a lot of culture, 
but he must be intelligent, tem- 
peramental, with fighting spirit 
and mentally alert And he must 
not be individualistic, either on 
the field or off it. Physically, he 
must be not less dnm 1 -meter- 80 
with enough kOos to make his 
weight felt strong with a hard 
shot but not necessarily a good 
dribbler” 

That rules out most of the 
above. Even in a team game, goal- 
sowers are hungry for posonal 
glory. 


Washington Past Semce 

WASHINGTON — Finally, the 1984-85 college 
basketball season has found 

Since the ball first went up in November, there has 
been little doubt that — baxxmg injury — Georgetown 
would repeat as national champion. No iwm coached 
by John Thompson and anchored by Patrick Ewing is 
going to lose its hunger. 

But now there will be something else worth remem- 
bering about the season. Last weekend a monarch fell 
in a bloodless but thorough coop. Four times the Kg 
East, the six-year-old pretender, challenged the Atlan- 
tic Coast Conference, the king. The pretender won all 
four. 

As a result, three Big East — a tournament 
record — are in the NCAA’s final four. Does that 
mean a new order has been established? No, but it 
does mean this one will be remembered, correctly, as 
the season of the Big East. 

Coach RoIHe Maasunino and VBlanova took the 
measure of the ACC not once but twice during the 
weekend. Friday, they beat Maryland; Sunday, they 
embarrassed North Carolina. Add Georgetown’s vic- 
tory over Georgia Tech on Saturday ami St- John’s 
West Regional victory over North Carolina Stare 
Sunday and the figures are complete and convincing. 
Regular season score: Big East 3, ACC 1. NCAA 
score: Big East 5, ACC 1. 

The beauty of the college game, though, is its 
constant change. The three Big East going to 
Lexington, Kentucky, this weekend are built around 
seniors. AO three will be 
good. 


good next year but not as 


The ACC, by contrast, is a 1 
at N.C ! 


except at N.C State. Georgia Tech loses only Yvon 
Joseph from hs superb 27-8 team North Carolina (27- 
9) loses no one of note and has had the nation’s best re- 
call ting year. Duke (23-8) loses only Danny Meagher. 

Bui that's 1985-86. This is the Big East’s season to 
crow. The fourth team in the final four, Memphis 
State, is almost an afterthought. The Tigers are the 
product of a Midwest Regional that could easily have 
passed fm* the national junior-college tournament fm 1 
all its on-comt and erachrng discipline. 


If there is to be a suspenseful national lino! on 
Monday. Villanova must beat Memphis Suite on Sat- 
urday. There is no way Memphis State can beat St. 
John’s, much less Georgetown. The Redmen and 
Hoy as have at least as much valent and know what the 
words discipline and defense mean. 

Villanova’s Wildcats have readied the semifinals 
with those two words. Their average score in four 
tournament victories has been 53-48. Massimino con- 
trols every move, every possession. Last weekend, 
when his team shot horribly in both first halves, the 
scores were dose because the games were slow and 
VKanova’s changing zone defenses were good. In the 
second halves, the Wildcats built leads and then held 
on with the spread offense Massimino loves to use 
when there’s no shot dock Villanova will try to do just 
thax against Memphis State; give Massimino a second- 
half lead and the Tigers will be history. 

There are no such obvious notions about Sl John’s- 
Georgeiown. The Redmen, who crawled out of Madi- 
son Square Garden two weeks ago after a battering in 
the Big East final, seem to have caught a second wind. 

But Sl John’s will be hard-pressed to make its 
fourth meeting of the season with the Hoy as any 
different from meetings two and three. Georgetown 
win not consider its season complete until Thompson 
and Ewing repeat their victory dance of a year ago. 

For Sl John’s, boarding the plane to Lexingwn 
means the season has been a success. It will be moti- 
vated, but motivation is different from mission. 

Saturday it was again apparent that Georgetown 
has a mission. That may be Thompson's greatest 
strength as a coach — his ability to convince bis 
players that for 40 minutes you don't play a game, you 
go to war. He dislikes hearing that his term is violent, 
but it is more than merely aggressive. Personified by 
Ewing, therein lies Georgetown's brilliance: Other 
teams are convinced that Georgetown will refuse de- 
fe&L 

In the end, the difference is between wanting to win 
and refusing to lose. There's no reason to believe that 
win change in Lexington. 


Knicks Lose Game, King 



i 

COREBOARD 

• 

Hockey 

Basketball 


National Basketball Association Leaders 

NBA manors thnoob games of Sunday. Seattle 

K, Washington 

TEAM OFFENSE Boston 



G 

Pt. 

Avfl 

Dodos 

Denver 

71 

8528 

mi 

Atlanta 

LA. LsfcofS 

70 

8)73 

11X8 

Philadelphia 

Detrail 

70 

8)22 

11X2 

Houston 

Boston 

71 

>183 

1152 

Chicago 

Son Antonio 

73 

8377 

1148 

Now Jersov 

Portland 

71 

>115 

1142 

Utah 

Kansas atv 

71 

>107 

1142 

New York 

PhUodetottfa 

71 

8041 

11X3 

LA. Lakers 

Milwaukee 

71 

7M7 

111.1 

Phoenix 

Dallas 

72 

7954 

1105 

LA. Clippers 

Houston . 

69 

7SU 

.118.1 Portland 

Now Jersov 

71 

7738 

1092 

Cleveland 

Golden State 

7f 

7727 

1088 

■ San Antonio 

Utah 

72 

7835 

MM 

Indiana 

adcogo 

72 

7805 

W84 

Datratt 

PBoenlx 

71 

7482 

1082 

Golden Stole 

Indiana 

71 

704 

10X1 

Kansas Cliy 

Cleveland 

71 

7644 

1072 

Denver 

Atlanta 

71 

750 

1062 


LA. Cllppera 

73 

7441 

106.1 


Now York 

77 

7S29 

1068 


WnsIHuyiun 

70 

7377 

1054 

Kin*, my. 
Bird, Bos. 
Short G5. 
Jordan. Chi. 
English, Don. 

Seattle 71 7191 

TEAM DEFENSE 

G No. 

Milwaukee 71 7376 

1012 

Avfl 

10X9 

NBA Standings 



Wliklrts. AH. 
Aguirre. Dan. 
Malone. PtiH 


71 

7430 

1046 

70 

7396 

1166 

71 

7461 

1072 

72 

7789 

1082 

71 

77BI 

1085 

71 

7709 

1086 

69 

•7497 

1082 

72 

7858 

W9.1 

71 

7752 

1092 

72 

7904 

1095 

71 

7796 

1095 

70 

7687 

1095 

71 

7797 

1095 

72 

7982 

nos 

71.. 

7914 

Ills 

71 

7934 

1112 

73 

8317 

1138 

71 

si da 

114.1 

70 

8001 

1142 

71 

82*3 

1166 

71 

8291 

1145 

71 

8351 

1178 


EASTERN CONFERENCE 
Atlantic Dtvtsioo 



W 

L 

PCt 

GB 

X-Baston 

57 

14 

503 



x-PMIodefoMa 

52 

19 

232 

5 

Washington 

35 

35 

500 

zito 

New Jersey 

35 

34 

693 

22 

Mew York 

24 

48 

233 

33V] 

Central Division 



V-MUvaukee 

51 

2! 

208 

— 

Detroit 

37 

33 

529 

13 

Chicago 

34 

38 

672 

17 

Atlanta 

28 

43 

294 

22fe 

Cleveland 

28 

43 

294 

22W 

Indiana 

20 

51 

282 

30Vii 


Comm bios. MIL 
Johnson, KX. 
Natt Dan. 
WtotrWoe, OiL 
Griffith. Utah 
VandowoohA Prt 
AbduKJobbr. LAL 
Sannoa Hoa 
Moncrtof.MiL 
Free, dev. 
Thomas, Dei 




. nseman Curt Giles was strong at both ends of the rink in Monday night’s only NHL x-Houcton 
k He ably protected Minnesota goalie Don Beaupre (above, Giles dispatching " 
orward Jean-Marc Lanthier), and assisted on three goals in the North Stars’ 5-' 

jonal Hockey League Leaders 


Vancon- *- Do|ta 

. . e - Sen Antonio 

itanr 5-3 victory, um 

Kansas a tv 


Mai fhrowfe flames of Samtar. 
M: 

OVERALL OFFENSE 

6 APPlm 


RoaiiBh 40 5 OSAO 

(Fuhr and Mooo sharod shutout Jan. I) 



r. Edmonton 

64 

123 

>89 

<0 


Edmonton 

68 

*2 

130 

30 


an*. Winnipeg 

48 

72 

120 

74 

-5 

. . Lee Antecs 

4S 

7S 

130 

o 


. NY Islanders 

55 

56 

111 

36 

•’ 

- K. MY Wander* 

42 

59 

101 

51 

► 

\ HOL. Detroit 

52 

48 

WO 

30 


• Chicago 

37 

61 

98 

40 


Edmonton 

27 

68 

95 

90 


- f.WtosMiHon 

46 

50 

96 

a 


' .NY islanders 

39 

57 

96 

89 

V- « 

'. ta*. Quebec 

31 

45 

96 

•9 


. fc Lee Angeles 

4$ 

50 

95 

72 


- A St. Louts 

S3 

» 

92 

42 


- vCotgarY 

34 

51 

92 

14 


for, Washington 

so 

41 

91 

87 


A, Pmstwrah 

36 

52 

88 

43 


POWER-FLAT COALS 

So Poo 
■**. M 71 

. r, Wwh. 74 17 

Stuh. Win. 75 1« 

■LA. 74 \S 

kfc DM. 74 IS 

L Wegh. 74 IS 


S dm ont ofl a) 
Clifford 
Skoradonakl 
Bomwrman 
Pane 

Chlcaflo f» 
Lmnoiln 
EdworA 

Cetoarv W 
Hrudrv 
Smith 
M otow ocw 

M.Y. Mmdera ai 

Beauero 

Moloch# 

Meianion 

Sands 

Minnesota (S| 
Janocvfc 
Ettot 

Los Anotfos (Sl 
.StanJowskl 
LM 


Milton 


401 Ml 3 1SJ 
20 D DUO 
LTD fl 1X23 
12M 212 0190 
60 A 04JJ0 
AAT7 273 I ITS 
3JM 174 1X43 
1446 106 0440 
44*2 204 1 129 

2.175 12* 2X5* 
1485 120 0X82 
42S 35 04M 
40I3U 2X83 

LS7D *4 1147 
L717 108 0 177 
1A82 73 0405 
139 14 DAO* 
4JB2N 1 X94 
1757 1#6 2X66 
ljttiai 04M 
LSI* 364 2 4j64 

20 1 0X00 

491 30 0 X67 
1,277 82 2 US 

2499 1B7 1422 
4447391 3 444 


Hoyword 
Holden 
Bohrend 
Wl tm l itofl CO 
Low 
Reach 
Kommpwl 
Now Jenov «) 
Bwwh ar dt 


WraaoMt 
St. Croix 
Toronto (M 
Hanlon 

vanbtasbraude 
NY. Rnom 14) 
WQ0 


'4 i. - 

■*“ 


OOALTENDUIO 
••Wwm eeata to paroantoMf) 

MP GA SO Avfl 



1264 69 

0128 

e 

65 4 

0X69 

4fo (X) 

42*7 216 

S X9S 

1 

623 25 

1261 


661 31 

1251 


3208 161 

2351 

*fo«fod (5) 

4693 222 

4 197 


801 36 

026* 

. ran 

1611 187 

1 xto 

- ■ 

60 7 

0750 

MtoWa (n 

468i an 

1 X12 


20 0 

0 050 

» 

2587 153 

1X10 

n 

1546 17 

0338 

Jtva m 

4640 M 

1X2* 

v 

944 a 

1X31 

In 

1200 98 

1366 

am 

1231 101 

036* 

wc (n 

4582 2S 

2 365 


1277 76 

1331 

s 

2295 159 

1X41 

M 

102 4 

0352 

tel* 

164 14 

0X12 

M (1) 

4634 338 

2 36* 


70 3 

0257 


345 19 

0112 

w 

2,139 114 

0120 


1569 119 

1352 

- "fos ft} 

4643 259 

1 358 


1.950 105 

1X23 


a 2 

0164 


2203 134 

1366 


1*4 17 

0359 


Ol 

NHL Standings 

WALES CONFERENCE 
Patrick Of vision 

W L T Pto OF GA 
s-Phihutolphla 48 19 7 103 32? 232 

x-WosMnoton 43 32 9 «S 301 232 

X-N.Y. tslandars 3* 30 5 83 33* 284 

N.Y. Rangers 23 40 10 56 274 XU 

pmjtxirflh 23 44 5 51 250 346 

New Jersov 20 44 9 49 242 312 

Adam# Division 

x-Ouvbec 34 U * 81 299 2SI 

x-Monirsal 35 27 II 81 272 244 

ft-Buffoto 33 25 14 80 2*5 21* 

Boston 33 31 9 7S 273 258 

Hartford 2* 38 9 41 2S0 301 

CAMPBELL CONFERENCE 
Norris Division 

x-SLLMto 34 27 12 80 273 2» 

x -Chicago 35 34 5 75 28* 282 

x-Minmaoto 24 39 12 40 251 2** 

xovmxt 24 3* 11 59 288 340 

Toronto I* 47 8 46 231 321 

Smytho DtvUiea 

V-Eamonran 44.17 10 102 361 261 
x-wimMam 41 27 7 89 »4 311 

x-Coioarv 38 27 9 85 338 214 

a-Loo Alto# tom 32 29 13 77 XB X 4 

Vancoumr *4 43 I 56 248 381 

Iv-dlncttod division ftttol 
(xtollnclwd otovoft twrtb) 

MONDAY'S RESULT 

VBRCMW * • I— 1 * 

Mlfirniiifn i 2 3-1 

Ciccortltl (I4)t Martin <1L Graham (11L 
Brolan (181, PO*M (28); MeNOb (20). N##(V 
(U), Tanii (37). Shots on pool: Vcmcoovor (on 
ftoouMto) 13 -L 5 — 24; Minnesota (on Coulee) 
8-17-10— 35a 


Micatof 
Detroit (47 
Rommto 
Dion 
Herron 
Fort 

pmstowoa (4) 
Bradour 
Caprice 
Gorrott 

(4) 


3.166 203 0385 
213 15 0423 
1.173 87 1445 
4JSS3 311 1 OH 

188* 48 1X74 
2499 184 0409 
645 54 0582 
44)9312 1423 

2JJ62 127 8X20 
*47 45 1417 
L21B M 0463 
548 45 0 475 
0498 319 1 AM 

2270 159 0420 
2,178 158 1 435 
4448 321 I 431 
X76 27 0431 
2453 181 0443 
1471 128 0460 


WESTERN CONFERENCE 
Midwest Division 

45 26 43 

40 29 
40 32 

34 37 

35 37 
29 43 

PacMc Division 


856 

493 


403 


4 

SVj 

ID 

WWt 

16V5 


v-LJL Lakers 


52 18 

35 37 
32 39 
30 42 


30 — 
486 18 
451 3016 
417 23 
2Bh 
3216 


1429 120 
553 O 
1831 1C 
337 37 


1442 

0467 

1465 

04-59 


4851 244 2 477 
2-7S0 214 0467 
1-338 112 0502 
407 44 0449 
4893 376 • 582 


Phoenix 
Socdlto 

I— A. CITpporS 25 O" M 2 

Golden State 20 51 822 

tx-dfneted pknrafT bertti) 

(vdimSiod dvislan tlllo) 

MONDAY'S RESULTS 
Seattle 29 38 31 26—186 

Kanos atv 30 29 24 20—121 

D*n» 1M7S42X Thorpe 10-17H22; aiam- 
bors 9-17 A7 24 Wood 9-M M IX Rntoondc 
soon to 44 iBrlckMnld. OortOon W); Kan- 
sas City 55 mwroe 11). AnBte: Seattle 30 
(Hendonon 10); Kansas Ctty 40 (Drew 14}. 
NOW Yortc ZS 29 22 22—106 

MnwaWGM 41 23 32 29— n* 

Manarlof 9-10352XF1olds 9-1238 21 ; Grun- 
(#M 13-16 48 301 Tudcor 9-16 34 2X Rodoends: 
Now Yart 44 (Wllldns. Tucker 6>; MAwaukeo 
56 (Lister 8>. Assists: Now York 23 [Sparrow 
11); MBwaaMo ® (Cummlnox. Mcncrtof 5). 

33 25 25 37—120 
24 26 18 31—99 
Vandewoshe 9-21 9-10 27, Cotter 9-11 64 25; 
Smith 5-13 0-12 18. Wattod M4 2-4 16.Ro- 
Oondi llii tRdiit T ICiii i Bj l « n— 88—F 
(Johnson, wpitan 9). Assist*: Portland 27 
[Drexler 10); Las Angel e s T7 (Nbtsn 5). 1 


SCORING 

G FG FT Pis Avfl 

55 691 426 U09 329 

71 820 346 2033 288 

69 729 450 1950 283 

72 725 538 1994 277 
71 817 338 1963 276 

70 731 427 T*U 27 J 
7) *99 395 1817 256 

60 527 438 1692 24.9 

70 688 315 1691 242 

71 682 287 1663 214 

69 610 384 1604 232 

67 593 359 1545 2X1 

72 684 204 1660 2X1 

61 525 316 1376 226 

70 651 2*5 15*7 224 

69 539 254 1532 222 
44 501 410 1417 2X1 
40 495 258 1309 718 
*9 561 344 1492 216 

FIELD GOAL PERCENTAGE 

FG FCA Pet 
Donotdun. LAC 316 489 646 

Glknore, 5JL 470 754 623 

Ahdut-Jahbor, LAL 651 1082 602 

Nance, Phce. 515 848 593 

Thorpe, ICC 333 5*7 587 

Checks, PhiL 356 618 876 

worthy. LAL 523 908 376 

MCHMa, Bos- 516 907 569 

Johnson, LAL 443 786 564 

Datlttey, Utah 435 788 552 

REBOUNDING 

B Oft Del Tot Ava 
48 3Z7 551 >78 1X9 

71 288 993 881 128 
4V 378 457 835 1X1 

70 239 *05 844 1X1 

72 IS* 632 SIBIL* 
69 23* 501 737 1X7 

71 2J1 526 757 11X7 

68 164 599 723 106 
*9 Ml 390 731 186 
*0 192 538 730 106 

ASSISTS 


Cony/iled by Oir Staff From Dispatches 

MILWAUKEE — New York 
Coach Hubie Brown, who had just 
lost (he services of Bernard King, 
the National Basketball Associa- 
tion’s leading scorer, could not 
avoid noting the differences be- 
tween bis injury-depleted roster 
and the vigor of (be Milwaukee 
reserves. 

“The Bucks were ovetpowering,” 
Brown said after Milwaukee had 
breezed to a 126-106 victory here 

NBA FOCUS 

Monday night “It could have been 
a larger deficit than it was, but 
[Buck Coach] Don Ndson played 
his second-stringers.” 

King, averaging 32.9 points per 
game, is lost for the season with a 
tom ligament (anterior cruciate) 
and a tom cartilage (lateral menis- 
cus) in bis right knee. He twisted 
the knee late in Saturday night’s 
game at Kansas City; be underwent 
an arthroscopic examination Mon- 
day, but no decision was made on 
whether surgery will be necessary. 

“It’s no fun at all when your 
nugor players are out,” said Brown, 
”1 thank Ndson for taking ft easy 
on us." 

Elsewhere it was Portland 120, 
the Los Angeles Dippers 99, and 
Kansas City 121, Seattle 106. 


Slowed by the absences of other 
injured players — Bill Cartwright, 
Marvin Webster, Trade Robinson 
and Pat Cummings — the Knicks 
trailed throughout. 

Sidney Moncrief had 23 points 
and rookie Kenny Fields added a 
career-high 21 as the Bucks im- 
proved to 51-21. The loss dropped 
New York to 24-48 and was the 
31st defeat in 36 road games for the 
Atlantic Division ceflar-dwdlers. 

The Bucks led, 64-52, at halftime 
and extended their lead to 23 
points behind Moncrief s 1 1 third- 
period points and Mokeskfs 10. 

Teny Cummings bad 15 points 
as Milwaukee took a 41-23 lead 
after the first quarter, in which the 
Bucks hit 82 percent from the floor 
(the Knicks shot 23 percent). Fields 
came off the bench is the second 
period to score 15 points. 

“It’s been a demoralizing year,” 
Brown said. “We fight hard every 
night bpt you .can’t win playing 
second-string guys 30 or 35 min- 
utes a night-” 

Ndson said the Bucks “have 
been fortunate in avoiding that sit- 
uation this year. 1 think playing 
evoyone for short periods of time 
hdps a lot.” He am turned to rest 
his mainstays Monday. Moncrief 
played only 28 minutes while Terry 
fjwnmmgs played 26. (AP, UPJ ) 



King: Out for the year. 


Derby Hopefuls Find Success Elusive 


Plilt. 
Yfltttora. NJ. 
Otajuwarw How. 
Lobnboor. Dot. 
Eaton. Utah 
Parish, Boa 
T hompson. ICC 
Stona. Saa. 
Smith. &S. 
Somnson. Han. 



G 

No. 

Ava. 

Thomas. Dot 

*9 

941 

1X6 

Jrtnscn, LAL 

67 

848 

122 

Moore. SA. 

73 

717 

95 

Nixon, LAC 

71 

402 

11 

Banter, dev. 

71 

5*4 

86 

TIMMS, ICC 

71 

57* 

11 

Rlrtartsotv N_l. 

71 

55B 

75 

Green, Utah 

67 

522 

75 

GeJNlHtame, Wash. 

47 

512 

76 

valentine. Port. 

44 

471 

76 


By Steven Crist 

New York Times Service 

HI ALEA H, Florida — Year in 
and year out, favorites win about 
33 percent of all thoroughbred 
races and 40 percent of stakes 
races. So when a son of Secretariat 
named Pancho VlUa won the Bay 
Shore Stakes at Aqueduct Saturday 
and favored Spend a Buck finished 
off the board, an extraordinary 
streak was extended. The Bay 
Shore was the 12th graded stakes of 
the year among -3-year-olds prep- 
ping for the May 4 Kentucky Der- 
by, and the 1 1th in^ which the favor- 
ite was beaten. 

A success rate of only 8 percent 
among favorites accurately reflects 
the character of this crop of 3-year- 
dds with the Derby just 39 days 
off. Although several colts have 
emerged as die leaders of the divi- 
sion, they seem more likely to en- 
counter further upsets than contin- 
ued success, and there is plenty of 
roan for more outsiders to join or 
surpass the leaders. 

The 10 remaining graded preps 
(and other new ungraded races) 
will determine the Derby field and 
favorites. Saturday’s Flamingo at 


Hialeah will be the most important 
so far this year, for it is likely to 
attract two and possibly all three of 
the early Derby favorites— Chief's 
Crown, last year’s champion 2- 
ycar-old and a winner of his only 
Stan at 3; Proud Truth, whose vic- 
tories in the Fountain of Youth and 
Florida Darby make him the only 
3-year-old with two 1985 victories 
in graded stakes, and Rhoman 
Rule, whose victory in the Ever- 
glades was the most impressive of 
the year. Chief’s Crown and Proud 
Truth are considered definite start- 
ers, but Rhoman Rule may pass the 
Flamingo and await the Wood Me- 
morial at Aqueduct April 20. 

Chief's Crown dominated the di- 
vision last year and has done noth- 
ing wrong this year, scoring easily 
in his only start, the Swale Stakes at 
Gnlfstream March Z An impres- 
sive victory in the Flamingo would 
put him squarely atop the division, 
but his readiness is questionable. 
He will go into the Flamingo fol- 
lowing a four-week layoff and with 
the benefit of only one short prep 
race this year. 

There is also doubt over his abili- 
ty to handle the daggie dismnrfg 


Football 


Transition 


USFL Standings 


BASEBALL 


BALTIMORE— San* Jonn Hetovoa Jao kd- 
cbarsiu. Dan WMdwL Allan Rootlm- on) 
Mart Brown, pitchers; Kelly Part* and Jhn 
Trabor, lufloKtom; AI Porto. cntaher.and Leo ■ 
Hernando# ond Ken Gerhart aatftoldon,to U* 
minor leaouo complex for raaHtonmeaL 

DETROIT— Sent Bryan Kelly and Robot 
mom. plicfwn; Seatt Eorl and Pedro Cfao- 
vez. tafielder*. and Bob Mehrln. anchor, to 
Naehvttto of foe Amorioan ASMdanon. Sam 
SMNtonao and John Pacolla. Ptfcfton; Mam 
Foley, catcher, and Ron Johttfon. Hrta bow- 
man. to Its loaouo complex. 

TORONTO— Sent Kelly Gruber, tldrt bam- 
man. and Fred MeGtlH.flrrtbmofnaatoSyi^ 
acme of the I nt ern a tional looouo. Placed 
Jim Ctanev. pitcher, on the SVday dtaabtad 
list. 


or. to low of the A m eric an Association- Re- 
turned Bm Hums. eahfier.andCMco Walker. 
outBetdor, to Ito miner league complex tor 


LOS ANGELES— Sent Ed Amefonfl, Tony 
Brew er . Ralph Bryant and Lerrnnto Miner, 
outfieMenbond FranhUn Stubbs, German Rl- 
»# rt end Mar i ano Duncan. Infieifiorfc to Albu- 
auerqno d me Podfle Coast League. Sent 
CkO Espy. Jose Gonzalez. and MDte Rauoev, 
mittloldori. to Son Antonia of the Texas 


CHICAGO— Optioned BUI Johnson and Ron 
Meridlth. pitchers; Dave Owen ond Dm 
Rorm, toftaldars. and BlUy Hatcher. aotfiaW- 


World Cup Soccer 


WORLD CUP QUALIFYING 
Adas Zone Groan 3 B 
Thanmd a India 0 

Points SToadtofls; Indonesia *. TTxd land X 
India 1, Bangladesh o 
N8«t Mddo: March 2X11alland w. ind> 
M ar ch M. Bangladesh vs. India. 


MONTREAL— Sold the contract of Tam 
Lawless. faBelder. to Louisville of the Ameri- 
can Association. Seat Tim Galas and Floyd 
Youmaae. pfidiers. to Its mlncr4aaoue camPL 
NEW YORK— Sent John GBdwns, catcher, 
and RSefcAguQern, pitcher. To Its minor league 
ennw tor ree wtonm eir t . 

PITTSBURG H Sent Benny Distetanp Ml 
Trench Davts, outfletden; Dave Tomlin. 
Joan Schetocroer, Kevin Anarash. Chris 
Green. Jim NoMflnoor. and Barry Jones, 
porters; Stove Barnard, catcher, and Leon 
Roberts. toBekter. to its minor league enmn. 


INOIANA— Placed BUI Garnett, forward, 

an the Wared Bit Stoned Grao Mtser. tor- 
wart, too Wdav con t ract . 

I— a. LAICERS— Stoned Chuck Nevttt. cen- 
ter. tar the remainder of the s eos e n . 
FOOTBALL 


EASTERN CONFERENCE 

W L T Pd. PF PA 
Birmingham 4 1 0 880 13* W0 

Memphis 3 2 0 600 103 101 

Now Jersey 3 2 0 600 128 125 

Tamea Bay 1 2 0 600 141 116 

Jacksonville 2 3 0 800 123 IS 

BoUlmaro 1 3 1 J00 82 76 

Oriando I 5 0 JX» 75 154 

WESTERN CONFERENCE 
Houston SOB 1800 109 105 

Oakland 3 1 1 -700 128 124 

Arizona 3 2 0 680 HM 80 

Denver 3 2 0 600 112 IO* 

Portland 2 3 0 600 II 92 

Loe Ansetas 1 4 0 800 lit 1T7 

San Antonio 1 4 0 800 44 119 


Prepping ior the Triple Crown 


Listed below eve the 22 graded prep races for this year’s spring clas- 
sics, the May 4 Kentucky Derby, the May 1 8 Preakness Stakes and 
the June 8 Belmont Stakes. The most important of these preps are 
the seven classified as Grade I, noted here with an asterisk. 


Mb 


- ■JSHLfi''-' 

v *fifca\ ; 

r’JjUftL 1 '.,. 

: : fax' 23*,. 


De n ver It, San Antonio 2 


Exhibition Baseball 


DETROIT— Stoned Eric Hippie, a u orter- 
bort, to g tofryeer contract 


MONDAY'S RESULTS 
Cincinnati 5. St. Louie 4 
Mlimeeoto S. Las Angotoi 1 
Montreal 5. N.Y. Yankees 3 
Pblladetofito S, Defrott 4 
Houston e, Beaton 5 
Pttlsbureh IX Karoos City 1 
Taranto X Chicago WMto sot 0 
C l evel an d 4. odcoeo Cube X 13 inolnga 
Milwaukee 4. San Francisco 0 
Seattle X CaMtemlo 1 
Son Otago % Oakland X lit game 
Oakland 4. San Diego X 2nd game 
K.Y. Mefe 4 aileaflo White &w (ss) i 
Tem X Bgtttraora 1 


:Marcba 
. Itorctiffe: 
.rfflnhte- 
**tecbi7- 

•Wa*ch3ri 
- March 3v 
MechSt 

•Apr*20 ! 


WHZT'' 


Race 

Tropical Park Derby 
B Camino Real Darby 
Hutcheson 
San Vicente 
Fountain of Youth 
San Rafael 
Florid a Derby 
Swift 

Everglades 
Tampa Bay Derby 
San Felipe 
Bay Shore 
Flamingo 
Louisiana Derby 
Jim Beam Spiral 
Santa Anita Derby 
Gotham 

Wood Memorial 

Arkansas Derby 
California Derby 
Blue Grass Stakes 

Derby Trial 


Track 





SantBAdtic 

'**&**, • • v 

M :=?:>• ••• 

fiamwm.. -;,:T 

j 


Witmar 
Irish Sur 
Tank's Prospect 
Banner Bob 
The Rogers Four 
Proud Truth 
Smarten Up 
Proud Truth 
KmgBabar 
Rhoman Rule 
Regal Remark 
Image ot Greatness 
PanchoVUIa 


Downs;: 


Dm tow York 


around two turns. Although Chiefs 
Crown comes from off the pace, all 
but one ol his starts have been in 
one-turn races, and his lone effort 
around two turns last year was the 
weakest victoiy of his career. 

Proud Truth satisfies most of the 
requirements of a classic horse. He 
is bred for distance, has a classic 
off-tbe-pace style and appears per- 
fectly sound and on a perfect 
schedule. His races, while visually 
impressive, have been relatively 
slow. In the Florida Derby, his win- 
ning time of 1:50 for a mile and an 
eighth was poor, also, because he 
began his career late last fail. Proud 
Troth has been in steady t rainin g 
without a winter freshening and 
may have peaked already. 

Rhoman Rule’s Flamingo status 
was to be determined Tuesday. His 
owner and trainer say they lean 
toward waiting until the Wood, but 
if they do die colt may be at a 
disadvantage by Derby day. He 
would have had only one prep race 
in the preceding six wears. Rho- 
man Rule's talent is apparent, but 
the colt’s two victories this year 
were easy, unpressured romps and 
he may need more seasoning. He 
has yet to encounter any adversity 
or be tested by top company. 

Outside of Florida, no colts have 
run as good a race as Rhoman 
Rule’s or Chiefs Crown’s best or 
even exceeded the quality of Proud 
Truth’s slow Florida Derby. Tank's 
Prospect, second to Chiefs Crown 
by a neck in the Breeders' Cup 
Juvenile last fall, is the early favor- 
ite for the Santa Anita Derby. His 
stretch-running style figures to 
thrive in that race, whereas other 
California stakes- winners, such as 
The Rogers Four and Image of 
Greatness, appear to be strictly 
sprinters. Some California han di- 
cappers hold out hope for 
Skywalker, twice beaten in major 
races this year but a coh who at 
least figures to improve at longer 
distances. 

Wayne Lukas, who trains both 
Tank’s Prospect and Pancho Villa, 
thinks the former is a better colt 
but will try to stretch the latter out 
into a Derby contender, running 
him next in either the Louisiana 
Derby or the Gotham. 

It has been six years since there 
was a heavy favorite on Derby day, 
when Spectacular Bid scored at 
odds-on, and no favorite has won 
die Derby since then. Keeping that 
streak alive may be the best bet of 
the spring. 








f 


Page 24 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MARCH 27, 1985 


OBSERVER 


England: Jody Good Buy 



mm 

BT 

& ; r~ • *. kfL 




i 

itP ■; t 

§mK. 


■ v- 





PEOPLE 


By Russell Baker 

N EW YORK — Big spenders 
had known for years mai En- 
gland was the place to shop if you 
wanted an artistic masterpiece as a 
hedge against inflation. 

The word that spread rapidly 
among excessively moneyed shop- 
pers was, “England is a jolly good 
buy in Old Masters," and, in 
billionaires hoping to esiaMsh art 
museums in the cultural deserts 
that had spawned them were buy- 
ing entire collections in Englan d 
almost as casually as Americans 
used to buy postcards in Paris. 

A new word spread among the 
world’s billionaires: “England is a 
jolly good buy in art museums if 
you're looking for something to 
class up that arid backwater you 
call home.” 


At this stage, shoppers who 
thought of England as a jolly good 
buy were mostly the sort of people 
who buy a Velazquez to hang over 
the barbecue grill as a conversation 
piece. 

Then a startling idea was spread 
by a combination of merchants 
who sell consumer goods, airplane 
seats, and credit cards. In huge ad- 
vertisements these entrepreneurs 
urged Americans to use their credit 
cards to buy airplane seats to Lon- 
don in order to buy consumer 
goods at bargain prices at Harrods, 
possibly England’s finest depart- 
ment store. 

Suddenly the entire world was 
invited to think of the English mar- 
ket not as a snooty auction room 
knocking down Rnbeos and Hol- 
bein to Mr. and Mrs. Moneybags 
but as a bargain basement of the 
things that make the pulse of com- 
mon humanity pound faster, bed- 
room slippers, pillow cases, photo- 
graph frames, socks, bathrobes, 
neckties, etc. 

Rarely is there such a dramatic 
ninstration of our genius for reduc- 
ing romance, fantasy — even, mir- 
acle — to ordinariness. It was 
bound to make people rethink their 
world. Perhaps, if the world was of 
such ordinariness, they had given 
certain things, certain institutions 
— institutions tike England, for ex- 
ample — too modi awe, too much 
■ . . respect 


before. One had thought of Heniy 
Vm, Good Queen Bess, and so on, 
but sow suddenly it had become 
just another place on the trolley 
line: 

Such ffrgngi*K In ways of thinking 
can have explosive effect And so, 
England was stunned early in 1985 
to near that all of Harrods — fam- 
ous, elegant Harrods — had been 
bought by an Egyptian family. 

A few days later, another aston- 
ishing piece of market news: 
Burke's range; the honored re- 
cord book of British nobility’s 
bloodlines, had been bought by an 
American. 

It was inevitable that by the end 
of 1985 a consortium of Italian 
dress designers would start dicker- 
ing to buy Alistair Cooke, whose 
presence; they anticipated, would 
add tone to their showings. 

This deal collapsed, of course, 
when it was discovered that Cooke 
was not English but American. Ital- 
ian couture’s attempt to boy an 
American, however, so outraged 
Donald Trump, the New York real- 
estate tycoon, that he immediately 
attempted to buy Italy. 

Italy, somewhat testily, told 
Trump there wasn’t enough money 


■f Cl 


r&m. 


.la** 1 * 1 


iS’J 


Mooes an Bank Faifa 
Mafia Planned in Ifa 

Max too Swton, Rod St 
and Dustin Hoffman will beta 
in May to film movies dqjh. 
bank failures and the Mafia]) 
newspapers say. “11 fathf . 
Penitent) will deal with To* 
Bowefta. whose confession fc 
police round up hundreds tip 
suspected of Mafia activities 
with the Sicilian banker !Vfi 






d 


Sb dona, who is accused of ft 
masterminded his own kkW 


I *V.w1 
feral 



Winners: Forman, (Erector; Field and Abraham, best acting; Ashcroft (top right) and Ngor, best support; Cofan (below right), foreign film. 


from New York and die &nj| i 
an Italian official investigate 1 
collapse of his banking empin 
S>dow is to play Smdona, {he ) 
paper’ Slumps Sera said. Ari 1 
daily, Corriere della Sera, aii ; 
Steiger would appear in M | 
friars Bridge” as Roberto 
who was found hanging ' 
BUckfriars Bridge in London 
the failure of his Banco Ai 
sane, and that Hoffman \ * 
play Flirio Cartrani, one of tj 
people to see Calvi alive. 

O 


1.(0"' 


riduri 

• \!ov( 


rr 


Kill 


*** tfrft- 

~ **♦ 


* * « 


'Amadeus’ Wins 8 Oscars; Abraham Named Best Actor 


in New York to boy the Leaning 
Tower of Pisa, much less the rest of 
Italy’s glory, and mention of Pisa’s 
tower turned Trump’s attention to 
the Tower of London. 


Compiled by Our Staff From Dupauha 


L OS ANGELES — “Amadeus,” a 5c- 
/ tional account of Wolfeana Amadeus 


In its current condition, true, it 


was scarcely a worthy companion 
piece to the Trump Tower of Fifth 


piece to the Trump Tower of Fifth 
Avenue, but by patting boutiques 
on the third floor, r aising the entire 
structure 50 stories higher and put- 
ting in triplex penthouse suites, ar- 
chitects could probably turn it into 
something that a rock star would 
not be ashamed to be found over- 
dosed in. 

In fact, the Tower of London 
was such a jolly good buy that 
before Trump could dose a deal it 
was snapped up by a syndicate of 


Pertiaps England was nothing 
but a jolly good buy. One hadn’t 
thought of En gland quite like that 


Latin American dictators. "Hiey are 
dividing it into condominiums so 
that after bong overthrown by 
their dictatorial successors they 
win have safe places to flee to. 

All are looking forward to flee- 
ing to England, where — if they can 
steal their national treasuries be- 
fore fleeing home — they hope to 
buy Windsor Castle before the Ar- 
abs bid up the price. 


New York Times Service 


J-r tional account of Wolfgang Amadeus 
Mozart’s final years as seen by a rival 
composer, Antonio Salieri, dominated the 
Academy Awards with eight Oscars, in- 
cluding best picture and best actor, for F. 
Murray Abraham as the jealous Salieri. 
Sally Field claimed her second Oscar for 
best actress as a farm widow in “Places in 
the Heart.” 

Haing S. Ngor, a Cambodian refugee 
making his actmg debut as an American 
reporter’s assistant in “The Killing Fields," 
mid Dame Pe ggy Ashcroft as the enigmatic 
English visitor, Mrs. Moore, in “A Passage 
to India,” were named best supporting per- 
formers at the 57th Academy Awards. The 
ceremony Monday night was telecast to 
most of the world, including China for the 
first time. 

MDos For man took the best-director 
prize for “Amadeus,” which also captured 
awards for makeup, sound, art direction, 
costume design and screenplay adaptation, 
by Peter Shaffer from his play of the same 
name. The Czech-born Forman also won 
as best director for 1975*5 “One Flew Over 
the Cuckoo’s Nest” 

Runners-up to “Amadeus” were “The 
Killing Fields,” with three Oscars — the 
others woe for cinematography, by Chris 
Menges, and for editing —and “A Passage 


to India” and “Haas in the Heart.” with 
two apiece. 

Abraham, 45, a veteran of television 
commercials and off-Broadway theater, 
won for his first starring film role. Tom 
Hulce as Mozart had also been nominated 
as best actor. 


Field, 37, who was also named best ac- 
tress for 1979’s “Nonna Rae,” thanked the 
writer-director Robert Benton, who won 
tins year’s Oscar for best original screen- 
play. “Oh Benton, what you did for me,” 
she said. “You changed my life, truly. This 
means so modi more to me tins time.” 


Ashcroft, 77, did not attend the ceremo- 
ny; she was in England for the funeral of 
Sir Michael Redgrave. Her award was ac- 
cepted by Angela Lansbniy, who said it 
was “marvelous that after an illustrious 
stage career, Peggy can now be seen and 
appreciated by film audiences every- 
where." 


Ngor played Dith Pran, the Cambodian 
assistant to The New York Times corre- 
spondent in Phnom Penh, Sydney H. 
Schanberg, during the fall of the dty to the 
Khmer Rouge insurgents. Like Pran, Ngor 
was marked for death by the Khmer Rouge 
an intellectual. He was captured three 
times and lost part of a finger while being 
tortured. 

The most papular award of the evening 
was given by Cary Grant to James Stewart, 
an honorary Oscar for “50 years of memo- 
rable performances, for high ideals both on 
and off the screen.” 

Stewart 76. strode onstage to a standing 


ovation and, with customary modesty, 
thanked all Ins co-workers — “everybody 
who was there with me and helped me 
along between ‘action!’ and ‘cutr” 

The music awards included Stevie Won- 
der’s “I Just Called to Say I Love You,” 
from “The Woman in Red,” as best song. 
The rock star Prince won for best original 
score song or adapation score for his semi- 
autobiographical film “Purple Rain.” and 
came up to accept his award in a blue- 
sequin ed burnoose. Maurice Jarre woe for 
his original score for “A Passage to India,” 
and said: “I was lucky Mozart was not 
eligible this year." 

The Oscar for best foreign-language film 
went to the Swiss-made “Dangerous 
Moves,” produced by Arthur Cohn, about 


Ngor, 34, who was trained as a physi- 
cian, and was working as a refugee employ- 
ment counselor in Los Angeles before be- 


ing cast in “The Killing Fields,” said: 
“This is unbelievable, but so is my entire 


“This is unbelievable, but so is my entire 
life.” He thanked his producer, David Putt- 
□am, and director. Roland Joffe. as well as 
the “casting lady who found me," and 
concluded: “I thank God, Buddha, that 1 
am even here.” 


a world-championship chess match be- 
tween a Russian and an exiled dissident- It 
starred Michel Piccoli, Liv UBmann and 
Leslie Cartel. 

At the beginning of the broadcast, the 
master of ceremonies, Jack Lemmon, 
sounded the theme for the awards show. 

“Brevity is the soul of wit,” Lemmon 
said, “and we hope to be very witty to- 

nighl ** 

Last year the ceremonies ran 3 hours and 
45 minutes, a marie trimmed by 40 minutes 
this year as most recipients, signaled by by 
red tights and threatened with cut-off mu- 
sic ir they exceeded the 45-second time 
limit, kept their acceptance speeches short. 
Other awards: 

DOCUMENTARY FEATURE: “Tbc Times 
of Harvey MOL" 

DOCUMENTARY SHORT SUBJECT: *Tlc 
Slone Carvers" 

ANIMATED SHORT FILM: “Charade." 
LIVE ACnON SHORT FILM: "Up." 
VISUAL EFFECTS: "Indiana Joses and the 
Temple of Doom." 

JEAN HERSHOLT AWARD: Davy Wofcer. 
producer of the opening and dosing ceremonies 
of the 1984 Summer Olympic Games. 

SPECIAL ACHIEVEMENT. SOUND EF- 
FECTS EDITING: Kay Rose, “The River” 
GORDON E. SAWYER TECHNICAL 
AWARD: linwood G. Dunn, special effects 


Princess Msgaret, 54, wh 
derwent lung surgery two m . 
ago. has been ordered by he 
tors to caned a visit to Gla 
aides said Tuesday. 

□ 


re-tRP* ** * 

-Jr -tf 

A $0# % 


The Americas novelist' 
Voonegot Jr. has called ibt 
mantling of the Polish chap 
PEN, the international write; ' 
sodation, a tragic more. Voq _ 
and another novelist, \VQBair 7 
roo, met with writers in W 
last week. Poland's indepe-" 
PEN chapter was suspended i 


.-*;«** d) 

...*!■ **rf . . 


dur H 

r- j "» ■ — 




gust 19S3 and re-formed und 
Ministry of Culture. The pare 


Ministry of Culture. The pare 
g&nization voted not to rec< ' 
the new chapter. “There are 
Eastern European countries : 
have independent PEN dubs 
works fine there,” Voanesut 
He and Styron went to Gdm - 
meet Lech Walesa, leader t 
banned trade union Solidarity - 
lomatic sources said. 

□ 


-- i 

, \ Ms 




,, m-»Ji ike 9 m 

r, 


HONORARY AWARD: National Endow- 
ment for the Arts. 


The comedians Carol ft ■■ 
and Sid Caesar and the forme .. 
anchorman Walter Croultite 
been inducted into the Td? - . 
Academy Hall of Fame. Rod 
ing of ^Twilight Zone” fain 
SuQjraii and Joyce HaR fourv 
the “Hallmark ilall of Fame 
dais, were inducted posthojr .7 
by the Academy of Televisor ; 
and Sciences. 




r«21 


... ;; 


, i 4m 


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GoOtaz-M Join 85 on Tourone 1 p«r- 
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fTALY 

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sam. K nde from saa unrounded fay . 
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PAHS • LYON • MARSSLLE 
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PHONE 562 78 99 


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75006 Paris 


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re Teflnl ^ 


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contact our local dat ri b u tor on 


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mOCAOBUL Townhouse 500 


MARVELOUS SPOT 
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HONG KONG 
Tab HK 5-286726 


VAL mSERE Bert winter & summer 
| stung in France furnahed apartment 
1 + stwdo 62 Steeps nine. 
F70000a Cal Paris: 504 86 20 


ALCOHOLICS ANONYMOUS in 
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FTOOflOOl Cal Parix 504 86 20 ] 

GREAT BRITAIN j 

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SQUARE BAtfOURB 

&roara, sound floor, commercial 
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75008 tofa 

Telex 231696 F 

YOUR REAL ESTATE 
AGENT IN PARIS 

PHOtE 562-1640 


ST OBUMAM DB PRB. Rue da Sana, 
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F7TOtoa Tab 28136 SB 

1 AVE VICTOR HlOa ETORE. Doubia 
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F23wj)0Q. Immooom 727 84 7<T 
16A TROCADERO, owner lumriou 
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London 01-221 0749 or 0W0 233777 



fllCAL FOR SHORT TERM SO— - 

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Tab ni 544 39 4a 



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PUERTO PUNTA PORTAI S, SLA. 

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BUSMESSMBL NXVH3UAU mid 
others conce rn ed. Do you have ex- 
tern cosh layfag around? We can turn 
your mass crab Ho rad amts. Fee 
charoed. Write Afied Ltd. POB 422. 
HmTraodxira, Va. 22801, USA. 


WTBMATIONAL COMPANY 
FORMATION 

UK eompcxee* from C75LO.M. Parana 
8 . afl major ofWwre centers. BA ad- 


BUSINESS SERVICES 

HtfTOR/ WRTTBL Successful fa raog- 



' i tekdfi 

1 * -’ft leaf** 

v.’ .flrtita 

.V*» 

"IX'hw 


azfaes, testb oofa, advertising, roar- 
ketfag. BA facMei eg. wocdpreces- 


USA INCOME TAX AOVKX & Re- 
torns. Paris based US CPA 3S9 63 01 


GENEVA 


I AM SELLING fafarnxteonmateriab 
for news ogra d es . writers, erfaon, 
etc- Very sptaci axes, far taramdm 
g u erriBa ware r e a r ma ment Bex 
1973. Herald Tribone, 92S2I NeuBy 
Gedex, Franre 


eraes tnanoq, no n ra rer services, power s 
of attorney, ragnterad offices, accoun- 
tancy, oonfidmel bank accounts 
opened, c on fidraitid tdu pho n e, telex. 
Ere 81 moffng serrire 

uL United 

43 Carera Street, Liverpool. 18 7HL 
Tek 051 709 1480. Ite 628613 BUSSSL 
Fmc 051 709 5757 
AnocxSad Offices Worfcteede . 


rare*, li Hum, 
6232 Bod Soden. 
I W. Germany 


COMMERCIAL 

PREMISES 


SW11ZBBAND *• N . 

Full Servfe* 
is our Burinoaf^.f " 


FOR AIL^ YOUR MBS of transfcfaon, 
iitepu l ifao n, red se aetarid ser- 
vices, French, Arabic, EngEriv Coo- 
to* M 8 H Servioev 60 roeRafaxMd. 
Ch-1202 GenevaTid: 31 58 12. Thu 
27449 MBHCH. 


M ONACO. For sate or rent beautiful 
120 xun. oo mn wrdd premis e , 
growd floor. Neor port & naflet. 
let tob 111 360 58 30L 


6 tet e motiond law and tares'- - 
• Atofc o*. le l i ph e nn and tel_- 


Teb tob (!) 360 58 3a 

OFFICE SERVICES 


• Tranriafian and secratori d - .‘f 

• Formatiaiv d o n ed fat i re an 
adnenblrahoa of 9 mvs one 


TRANSLATION All LANGUAGES I 


Gnuireud, lead, t e dveod, Storary, 
patents, xmafieoXons. TRANSCOM, 
96 Bd Auguste Bfanqui, 75013 Parh. 
Td: m 33789 89 


OFFSHORE SERVICES 


WORLD-WIDE 
BUSINESS CBHRES 

Tmrnbfled Exraaefhra Office* 


Ad confidence and decretfan- 


CARISBBH 9 


hte of Man. Twfa, AnguBa, Chamd 
Uands, Areena, Uberia aid mora other 

cMm areas. 

* Confidential profesriand 
advice 

* knmedate avaikfaCty 


CONSULTANT 
FRENCH BAKERIES 

If interested fa aptrmj a Bench Bakery 
or O ob so nterie fa tfm USA, seek the 
French Buf e rafa n d to handli your 


! n ee ds. N meraeel training coneflidcd br 
MASTS BAKERS and PASTRY O&S. 
Launch your faurinen in one MenM 
-jndudfag tari nfafl, equipment, mcm- 
Focfuring, and pwfldiOL 


US$10,000) 


* Bore ffnght raio ni 

* AccoaAnn & odmi 

* Mai. teh^one & 


One of CeMorraa's malt sucremful Red 
Fs t nte oompanes has c setedton of 
kmd parcels avafldtfa for mternreiond 
i nv es tors The p ropertim, l oofaed 
shroughout the stale range in price 
from JlOjOOO ta S600K. 3 av. sfote 
vfah le ue. fix mfonaction about the 
company, the r trod t record and Ifle 
properties, contodi 





TEXAS on. COMPANY - Seeks owes- 
ton far fafieid drying ventures fa 
Tmara. Hgh return. Write Ken Reneer, 


6113 Coden Lane, Ft Worth, Ta _ 
76114 USA. Tet 21 *438-2486. 
PANAMA UWfl A. CORPORATIONS 


ILK. non r esi dere campmes with 
n om i nee rfirabare bearer shoes retd 
confidenrid bank accounts. Fufl badbup 
& support services, ftmama & Liberian 
canparaes. Brit rate confidenfid 
profeseond services. 


MONEY AVAUAME far viable bm- 
neraes or new profacts. Corntel Mer- 
nalianre HnanadCansuHcms. 2817 £ 
Oakland Peril Bbd, Fort Laudentate. 
FL 33308 USA. Tlx, 332425. 


BUSINESS ADVISC ' 
SERVICES 5.A. -. 


R epr — i i relun A Odrar BxTOee 


7 Am Mury, 1207 GO* . 
Tet 36 0540 Tetex.- 23: - 


from US$ 400 avafoUe now. Td 
*5624} 20240. Telexi 628352 BLAND 


XPXJU 17 Widegate St, London "••*•**•*!* 
E17HP.Tefi01 377w4,H» 893911 G gS^lonSSn 


WQBXB4G PARTNBt WANTS an 
enrirang hotel boiA Tel Paris 382 6902. 


SSIQJXXLOOa Unique anretunty 
related vdhcoretrvdioabtrinere For 1 

BUSINESS SERVICES 


Trans World Commerfieee Lfaeted 
Dept AWS13 

6 Avenue tired Georges, Box 2 
1050 8 RUSSBS - Urexii 
Tefc P?] 640 32® 

Tetex 1381 TRANS B 
Restricted fa Belgium 


Leave your p roblems to us. 

C dl a Writer ADem HaBagoumh 
FRBKH 8 AMBY A PASTRY 
CONSULTANTS 
1211 □ Xertwood Ave 
San Jose, Cd 95129 USA 
- (408) 996-2507 


SERVICES LID 
Head Office 


INTERNATIO NAL Off SHOHE 
COMPANY INCORPORATIONS 
FROM £110. 

Compr e hensve A dm inistration. 
Nominal services. Powers of Attorney. 
Registered offices. Tetex, t elephone, 
ntd forwarding. 



CARL58BCG 1AW COUP. 

PO Bax 412 
London NW3 4PP 

Tefc 936 9119. Tetex; 268048 ret3013 


GENEVA - O ID TOWN 


SWITZERLAM) 


IMV9SAL CCNTAJNBS LTD. 
Kgb brterest fltcome Plan 

17%% P/A 


EfaeMrabed ret gaflery 

- 1 B-T- — Jr 

WlAJU Mnmv relH 

Introd u ced in Europe mid 
rawneas ret riuetiit 

fleaM write under* F 18-115129 
Pubfidtas, 04-1211 Geneva 1 


SSL TO REACH 
CANADIAN MARKET? 

Weil estafafahed mfl traefeig ca. breed 


OFFSHORE 

UMITH) COMPAN1B 
BANKS 

INSURANCE COMPANIES 


fa Torareo, would bn i nterested fa b efag 


Herdd Tribune, 9252T Neutiy Cedex, 
Fran or telex 06-21866 Heinertar 


MP «P bmmees and reradenW 
properly, obtain permanent re si dency 
[permit B, work permit, permit C& nreu- 
nuatiorf. Gorfidentied fa farmetfa n 
only by a personal interwew fa Europe. 
Sato is your triephone number & we 
emm you prompdy. Necessary rivest- 
ment around US55D^00 - USJ65i)00. 
torae write 8 « 2126. LKT, Frie- 
tWntr. )5> 6COD FimSfurt/Moo 


Baflocurrie House, 
SunxeerWI, 
h te of M oa 

TefcJ0S24) 28020-20240-28933 
Telex bland Gl 


in U5$ 


UCL provides u w e sto is with a high 
fixed income with security by operotmg 


mett service. InoMies at 1954 offerwffl 
continue to be deck wfth as recenad. 
For detesb of tha futy guoranteed and 
irourod fav es tmere pirei, oontadt 
IWNBSAL CONTANBS LTD. 
P.O.BOX 197 LONDON SW3 XT 
Tel 350 0667, Thu 896757 


LONGTIME SESnSfT BAHUUN. 
home odrfless Poris, 20 wars aefaena- 
tration/prrepeding aidefUm oon- 
stroaion Madfr&ti/Persirei Guif of- 
ferseadusivepari-tfaierepresentreion 
l praspection Guff Area / North Ya- 
men Pre-qudiftadioiv kxxd joinhvan- 
lure & sponson, numerous coreads 


MKT FACTORY Dbtributon far 

brft ryrcAy speoahy stainless coob- 
ware. Smart fan avaUite with 3, 
5, or /^jyooreir u d i on. Conventional, 
ionic or vbuof cover knob assembly. 
Bar 1646, Herdd Trfaune. 92S21 
NeuBy Codex, fanon 


Worldwide 
Bom £75 

Mmteig - Tefaphooe - Tetex 

JfeJD V lmO 

UJC. We of Mat, Jereay, Guemesy, Gt 
brahor, Bmreno, Lfcena, Luxembourg, 
ArtSe^. Ready mode or spedd. Bee 
ex p bnotory booklet. 



RENCH HUH fASHON MODS. 
27, PR/ PA ex p erien c e. Ktoyof Art 
graduote, flee to trawl, fadhnjd. 
Eds rtlondon based openings. Tefc 
3 pun, 9 pm. 01-225 0363jUKT 


AMSTERDAM EwaBasfaess Center 
fa yy- 99, 10 15 CH Amsterdren 
TeHQ2fl 227035. Telex 16183 
ATHBJS Eeec u Stv e Service^ Athens 
Towre B, Suite 506, Athens 610. 


Narmxm Point Bombay 400 021. 
Tefc 244949. Teten 011-4897. 
B«SSaS: 4, Rue de la Bwsse 
1000 Brutaeb. Tefc 217 83 60 
Tetetb 25327 

DUBAI: P.O. Bax 1515. DNATA 
A»Sne Omtra Duboi llAE. 

Tefc 21X565 Tebxi 4&911 
LONDQNi 110 The Strata. 


DIAMONDS 




Your best buy. 

Rne drenciixb maty price range 
at lowest whotestae prices 
deed from Antwerp 
renter of the Joman d world. 
Ful guarantee. 

For floe price fist write 
Innchfai Gllderaetefa 


ZlWCH-ZURJOm r - 

BAHNHOP5TRASSE5 
YOUR OFHd AWAY FROM' ... 

• Office/Manogserare Sorvio: . . .. 

• Company Formatrare* . ■ 

• How to do Badness in/or/ ' ' . - 

FROMStaSi 

Ihu t n eii S enrires CranieB^-^, 

I Bahrflofsfeane 5ZCH8Q22 
Tefc 01/211 92 07. The SL' 


v.-t.fcagwi 

.« a: umi m am 

-Vll Ml J M* 

•VHR *d m 

wtwr reholftfi 
tot ton * i 

V: aid St A 

d* ! 

.ips-ewgeA. 

i y .roaim 

***» nt * 

ir? M UB 

ueoBAtofil 

• ' '.*4l Sft Wwitojl 

**** *** 

’> ^ f Aw 


London WC2R OAA, 

TeU pi) 836 8918, The 24973 
MAPwp: C/Orenee N* 68-4, 

Madnd 28030. Td 230 56 00 a 
370 66 04. Tate* 46642 
MILAN: Via 1 

20123 Mfles. Tel 86 75 89/BO 99 279 
Tetex: 32Q343 

NEW YORK 575 Madsen ti me 
PARS: IBOS, IS Avenue Victor Hugo 

75116 IW Tel: 502 18 00 
Tetex: 62Q893F. 

ROME: VSq Savofa 78, 00198 Roc*. 
Tefc 85 32 41 - 844 BO 70 . 

Tetex: 613458 

SWOAPORE 111 North Bridge U. 
#11-04/05 Petensuia Flam 5'Pore 
0617. Tefc 3366577. Hw 36031 


TOUR MSTANT ANTWERP 

(BeJgmtn) necr harbor and 
tiond report. Fufl servrom: 


EstrtSshed 1928 


Pefiaanstnxra 62,8-2018 Antwerp 
Befairei - Tefc p2 3) 234 07 51 
The 71779 syl b. At the Diamand Gub. 


Aston Cocoa 
DeptTl.8 


Forrucrioos 
Soria St 


Guffwide. Moreflly reftxner. Write 
Bax 1961 Herald Triune. 92521 
Neufiy Cedex, Frrere 


FOR SALE OR TRADE- 3 year old 
taxational busman. Net eepr ori - 
mreoly J300J00/yere - asfcmg 52J? 
Inatont cosh How. Located in 

Cedre. France 


Dcxrtcs. fate of Man. 

TA 0624 26591 
Tetex 627691 SWA G 


OOMFRBfBiSfVE SBMCES, bsrt 
aexs address, trim, oecmedancy, 
computer faefom. tn*akdiorvtedx6- 
cd atd fi n cn cid guidaica. irewonce 
ond re4nsurcnce. GtteCu Genem 
72 r. de Lousrena, CP .2361, 1211 
Geneve 2, Swaa e riond 


Heat of Antwerp Diamond industry 


FINANCIAL 

INVESTMENTS 


EXPORT - IMPORT 


DISCOUNT COMMISSIONS ON 
STOCK 8 COMMODITY TRAINS 


pier, offices and conferred 
matte* and sate* support < 

formation red mtiraistoterei 
lax mefteri. d lends re e-, 
services, ward proorefag et 
htas write la Manogerrem A 
Group NV_ IfebraxfiMdrc r 


Nm 


Be3£m,B&um«-tefc^23;' 

44 or telex73404 MAGNUfl/ - 


YOUR LONDON OWf . , 

arte* 

CHBHAM EXECUTIVE CE 
Compr e hera i ve range of rev- » 
ISOregret She**, London 
TA (01) 489 6288 Hh 2. 


• ■-■?*** 'w«4 

- : 

■ Mm* 

•< . taste & 


awafl»«»jw«32. 8001 Zuridt 
Tefc 01/214 61 n 
Tetex: 812656/812981. 


We handle ci 


VAN CLEEF & ARPELS 


— \LX>HLE> famous jewellers — 

EXU-l SIVE JEWELS & WATCHES 


* SAFETY RK$T * 

Whflr imeffirted in a second travel 
docunere, pteose get in tawte «flte US: 
LM^O, Apdo. 195, 

ALTEA / Afeane / Spam. 


LONDON 

153 NEW BOM) STREET. 

TEL.; 01-491 1405 TELEX: 266265 


HBNCH WQI NXB, pumia stone 


roue own company in 

SWITZERLAND 

ZURKH - Zlfd - 1UZHD4 
From SFJOO per omen - up. 
Ccrttarea, Bearer*. 36^01-6300 Zuc 
Tefc 0041 42 21 32 86 49 11 

A IVwnt for Your Son 


BUYING NJRPU& We pay cosh, afl 
Roda.swpliaieoieptjsers.-vfdsre.hifi, 


NTL 

BEAUDRA PEOPLE 

UMIMIRDINC 

U^A. A WORLDWIDE 




j quantities, quick deemoa Please 
careare Yves Cohere YtaBoem compa- 
ny, 1 18 IW de Bn, 93100 Montrauil, 
France. Tel (10877541 Tetex 232^ 


(pirere pmari far stae, qurery opera- 
tor. urea mdustnef bfreested fa thb 


materiaL For irfarrereion tel 
83 83 La Rodidfa Frame or 
990-86-7&07 Mnfl%/Apr.l5. 


COMPUTES for business and person- 
d use. Authorized dealer far EM, 
Apple, others. Best price s. Cdl Mr. 
Lawrreoe, ton 563 2989/ 348 3000 


FRENCH COMWTES applying orev 
preiy looks for puitnerysp or flnms. 
ad »x rounder to moSze hb excep- 
tional plan of ckrtoymonL Hfah 
revenue vriB be rare. Write Bax 1966, 
Herald Tribrex, 92521 NeeRy Cedex, 


A co mp lete read & business service 
pravidng a uriaae re fl e cti on d 
tdreted, venatfa & mdt£ngud 
kxSvtducfe far dl o oo ari ons. 
212-765-7793 
21 >765-7794 
330 W. 56th 5t„ N.Y.C 10019 
Service (tepresentatives 
Needed Wbrfcfeede. 



BU9NBS SamCB M PARK, am. 
prehendue range of laertearire/oom- 
mercial senates, for information? Tbr 
600995 Paris. 


We are geared to hretate fadfaidud & 
aypa re famfcpt dents and cm 
ettoipped to hedge your portfaio with 
currency futures. Taa response to your 
tracin g needs. Big sawngs through db- 
axjnt oomruuuans POrtfaeo reanogm 
mere by outside prafesrionds is aval 
able. Direa war inquiria to: 

WSS & Gomprey, Inc 
6320 Augpda Drive 
toirgfiold. WT 22150 USA 
Td, 70M6W300 Tbc. 7KM320996 


PARK ADORES, Champ* 
Smet 1957 lAP.prowfe* red ■„ 
tabet, meeting rarea 5 roe 
7MOfl.T«fc»4704.Hx:6j 


8R 

Ni T NiiljfliMlftg ' 

L* ■ tniiWgs'm' 


I BRUSSELS ADORES. Mol 


LOS ANGELES 

tombed offices m Beverly Hfa. Con- 
Itawfeslrahrai Sewfrrae 


ptow, tetex, ^tocretrefal 1 '' 
Contadr Aten Busnesi . 
517 93 11 02 feed 6134 ., ‘f 

YOUR OWN 8ANGRO ' 1 


^ WiWre Bhd, SM 61R Beveriy 
Hflb, CA 


■»?* nmnmim 
•y* *V jT»h^Nw> 


OFFICES FOR RE 


EARN 23% -35%. Invest h 90 -270 KAIBtM MJOFBS 

day negoriabte renenreti d poaer SBTVKZS 

note*. Write Aflfad Ud, FOB <2, ^eqtrepeddSreitarei*. Domic*- 
flonbura, Vjrdnio WtH. USA ^vdtetex 6 phree}. Trade, soles 


PAMS, ID MAI5H0BT 


SCUBA MVSR5: Vta sdl & service ok 


MARKET HEMCH/TIANSLAIOR. j 
i nt erpreter. London 868-6590 eves. ■ 


equipment/vm step worUtrida. De- 
tSi Seven Sere Saba Bre 708, NY, 
0004 Ttc 22135? 


NY 10004 Tbc 2212 


HAVE IIS DOLLARS 
Srem Fronq or Hnfl 
6500 Zeidv 


fcdnki aBDl, USA otion (mat, tetex & phone). Trade, ides 
ewr Vn 25*? , P tow A leOetond emm. 

MB to e*mrege_tw PS. SBe de Chene. 1207 O enm ra 
Man lea. CA 361 Tel: (22^86 1 7 33l Hxc 428388 KBS 


AvaBable per day, ’-j 
1 room, high deal, very comr .. 

F500per day • r~. 
Secretariat senrices + ii . ‘ 
adjacent dude re.'S* ' , V 


H. sm xu/b&ji 

- ^iTBi c a 

* ^ m*. 

/■; 'i }*********■ 


Itnprimi par Offprint, 73 rue de rEvartgUe, 75018 Paris. 


■t . 4 ifew me ^ 

.J* 'fl A dif 

; 5 ‘ s? l M'um Mi ai 
’ ' Vi! M ' 


is