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

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The Global 

Edited in 

Printed Sanul -— ry 
in Paris, Lcndon,«i' 1 
. Hong Kong, Si 
IbetWue and 



international 


Sribunc 


WEAWBIDATA AP«AR ONM 0 E 1 8 

Ino. 31,787 


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Cypns C10 JD vWxmb QiM 5 110 Pw. 

p^nmeA— UODXr. 1 ^__LDili.lEB &M ^,_ 7 JD 0 SJCf- 

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•r^St E££— >**■ 


**R 


Leaders in Conj 

Trade Ban on Nicaragua 


Managua CaMs 

-i • ■ m . __I 


South Africa. There seems to be a 
doable standard aiwork- 
But many mcaribffs of Congress 

have advocated an embargo i 

aneed with’ Senator Robert J. 
nSTdie xnaority leader, when he 
gai^ «x think irt time to get t°°£h 


.Sa^us^^rthana^^.” £j 2 > <£iw^JB«te * ^ 

the Senate SdcciOwnnnn^o^;. Boon f<»: the economcaramt 

• tribgence. “But rfs novtoerewar mce ^ s ^Thui^ 

Dart of the policy tTxI'j ° c n m would not recog- 


ioaiiy, where he is attaidmg toe 
annual Western ecOTomic^^ 

Cannes at a time wten iawn^cg 

%om both parties aresaudnJ^ 
a compromise package 
channel some roma dwaaalMy 
aid to the rebds fighting the San- 

dinist government. ^ - hr 

rebels last week, bm in the House, 
liberals and conservatives com- 
bined to kill an efforts at passing an 

1 ^SooatOT&m Nunn, a conseva- 
> live Democrat of Georgia wh° s®?" 
norted aid to the rebds, said, the 
House action “left a very large 


I Ptew VUUgjraw— rr 

There are signs that a new con- 

aSsass^sES 

sra^sfjsffs 

Mdnga&mied program of »4 

Sing adnmristrainm offidals to 

-redid that they could wm a new 
wmJm the iwUWita 

“I am reconsidering, 

Joseph R. Biden Jr, a DeJmwne 

. * wvrrvT 


T_nii — ■* 

tido. in the case. . • 

Mr. Ramirez said Wednes- 

•aasssMfi s sKsjsr 5 ^ 

&&«*&***»■ 

*i«*!J?K-SS£ SmS*^S 

teDano<mi,il«>te«»d^ 
A«i/i on flnmims- 


Ohegft saascora, wiw » 
Bdgrade, denounced the ean- 
baxgo Thursday and sadit 
voM “most likdy be^x^ 

pahied. by 


“We ^ slamnn^tiie 


ico Democrai, auaw «»»*« 

they may switch, and an adminis- 

mea- 



ipports Reagai 
Trade Talks 


^ an anenda has been agreed upon 

, ^ „ Community foreign ministers de- “ devdop i ng counmes 

By Axel Kw^se d ded March 19 “ 1 "JGS ^ ra u 5 agree to attend. In addition, he has 

international Hem tf 7 Wh Jf. trade talks, but had spedfi^y filin g for parallel mova to 

BONN - Chffl S dlc LS?S avoided setting ^ 2 Skm im u -S- doUar ’. ^ 

KjcW, in a show of support^ According to West Goman and slrengt h he views as the mam cause 
President Ronald Reagan, agreed u.s. sources, who befwe .^ctiomst pressure in the 

TTmStotiw^obd^' 11 ?; French oppoanon became known, 

fSPS. - H- PE 


gUUlUUi a , - 

Sawje Fotes, 51 - 4 S,toUnut Increase 


IU*^ r 7 - ' in , ■ 

1986 MWmry Budget toHhbo^ 


opposition. President rran^j ^handling of Mr. Reagans ]ead£r ^ ^ and Mr. 
Stteromd.^m^^^d SheLed vil this weeded to the ‘ would agree on holding the trade 
later, argued that fra^aBBsno^ nuHt^ cemetery in Bn- ^^0. 

■not be opened brfore uiey -We are going to find out things 

adequately prepared. US. officials, meanwhile, reitw- ,hat_" Mr Reagan said. He 

■SaSiSsS s.*3SWSiS -SsaSat; 

sra 'a-aet. yaas£sj^» aiweasHK 

the ceremony at BrfburL ^ ’&yst& Palace, saidthat the at- 

i vw assuage criticism of Aevig- ^XTmt. ^tt«tand’s 

Du™« J£ Sf- sl u .-M Z 


Kohl^Mr.R^aff^^ 

W&z ««r=ss j„ woo -"-.-wxs^*%5 

* driwng them -p^rmal ooinion is that we rmmNWfw 0 »r Staff Fnm Dtspauhu dent R*®®}? w^Sonany and national security- Ev“ ’ ““ _ , d ing, the West German spokesman, until more was 

anbo “* ,te sriSScsr^ w - sssasaswftj-. 

_ _ , . Motley, the departing . voted Tuuisday,^ D Ma «i'« Wemberaer on Capitcu rtiu- a ori «... Agmi Goldwater, t/_ui a icr» agreed to support a me reseaiui^ £„„«,« missiles. 

France’s 


'i . 


o\ 




Appears 




! ■■# 
F'.v 

fy- ■'■ 
t-. >: '■ 

a*.--- 

P‘ 'IF 

i#r r > 

- 


By Bernard Gwmuoiian 
.Vcw rortt fimoSerw* 
WASHINGTON — TJedf^; 
sion toirnpoicatradecndwrgoon 

Nicaraguawas made more fOTSjro- 

bolic reascos than out of any cx 

Steraporary «onomc ^sristap 
to the Sandmist govcmiitenL^ 
cording to Reagan admunstration 
officials. 


t V-.. -- - 

Jntny e«nk nnHtaiy 
did not swan to bemij^attve 
fotPrra&tent Ronald Reagan- 
In mdimixuny discusapns-vnth, 
othti: Ut» Andean cramw 
UJS. diplomats were tdd that the 
pHfwinis traiian conld do whatever 
it wanted agrinst Nmarazna except 
take military action. 


Hllliaja. 

Traditionally, «cmranic fflnc- 
tions against a country are takm 
d^rSmaitary action- such 


4 “-’ 


NEVS ANALYSIS^ 


=ipL.' 


as those that the Truman admnis- 
KTimpoaed on China ^ 
the Korean War — or as a 9J^ 

r :C« n ral AIAIJM ns dunns 


HIM ”.* 1 J 

•They told us we could 

sanctions or arm the emtras, atew 

Stare Department official smd, 
^tf^nvadedMomS^ 
would oppose ns. 0}ha °®^ 
have mdthat ********* 

would stir an enormous anUrAmff- 

ican reaction and stre^then W^ 

movements throughout Laur 
America. 


v 

P >* 5 

pf” 


the Korean 

fffisSsaBariSS 


crisis. 


f *** 5 

t*- 


IhU. 

But in recent years, sanctions \ 
themselves have not brought P<^- 
cal ch anges in the countries bemg 
punished. 

From all indications, the Reagan 
administration’s move was ai sno- 
stirute for military .ac^ij«^ 
than a precursor to it and w^or- 
jZ-j i! L ~,,.ca of the unwillingness 



. f.-=\ 

4*^- 

K •/ 


mss to supppn mmuu j « 

Tkaraguan rdbds, known 
‘•contras,” a naval < P“J anm ?L®. 
Vtenwx or a US miliiaiy mva- 
^ sion. 


tb the rebels «nd aunojoa 
uproar over Mn Room’s P*®*® 
vStthe West Gernum m2il^ 
cccnewry at Bitburg cm 

nior aides to Mr. Reagan r^rtod- 

S agreed that be had to rebound 
^p^jyandassertivdy.. 

. In justifying the trade embMgO 

r^t^s 

cjtatM administration officials 
Sriheneedto^jda^mg 
s!pS to Nicaragua, Cuba and the 
Soviet Unkm- 



Beijing Ends 
Protest With 
Another Exile 


“JJISoS S towed down the Rrfer T™ 

’ A 


tu' ; 


iSi ' 




r.- : 


f* • 

wr^‘ 


ftsV-- 1, 
(Ai- ?■" 

H-i - 

ic 1 -.- ■■' 

I? -• 
V- ■ 




(J.S. Memorial 
hVandalissed 
In Normandy 

The Assodaud Press 


The admunstration would per- 
asL the officials said, m pressing 
Managua to agree to U.S. denars 

■-SEV.v-.SiSSiSE 


History Sets Sad Again for America 

*ttenmdog»B«reateE»#*V<«erfl«W 


By John F. Bums 

New York Time* Serrice 
BEUING — TheGrst extended 
public dissent in semd years 
ended, with the demonstrators be- 
ing sent back to ^aanxi provinw 
to«ead of bong allowed to return 
to their former homes here. 

More than two weeks ago, mm- 

SS-ffiSMg; 

h ?Sn--- fnm 1 

ras3fi."eS 

sssa.'SSS 

Guards during the Cultural Rew 

101 police inhibited ^ 

tween protesters and Western re- 
ported by taking phjJWj* 

Sny protester seen talking to a for 
eimS-Toward thV^of last 
week, foreigners were cleared from 
the forecourt of the building. 

But by allowing the prot^tereto 

continue their sit-in, aty offices 



rs.wfl» 


Witness Says She Saw 

Soldier Shoot Aquino 


San- 

dimsts and the r»os- 


PARIS — Vandals ^ay- 
painted antWnrish ;ando^r 
nn . <k# mntral memorial 








0i*M. 


-t.r. 

L'-c^ . 


■ ..... 

nr*- - • _ , 


- V 


rfSeUA nnfitaryctane^yat 

Omaha Beach in Nomanay, a 
UJS. official said Ilg gsday . - 
The slogans, in Flash, in- 
cluded: “Jews rcspaiable far 
war," “Victory 1944, victory for 
Zionism'* and “Reagaa " 

^Tbere also wet* itfoerice$ to 
fighting in 1944in tite town of 
fiS, which took.jdace after 
the Normandy landmgJ^ . 

The rfficial, representing, the 

American Battle Monuments, 
Commission, said that the san- 
dals entered the nngparpea 
cemetery Mondaytughtor 
Tuesday morning They P?«“: 
ed the slogans on the walb t* 
tire main monument* wtuen 
faces 9^86 graves, and ® 

Wail of the Missing, wheretoe 
names of 13S7 soWtomissing 
in Nonnandy are rccoroeq. 

It was the first such madcaL 
since the cemetery was .created 
in 1954. the official sad-. 


Administration officials s*& 
uui TWnnmiiifi hacking. 


Far some time it has" been ew* 
dent in the admmistfanoa that 
sSne officials wanted to appty 
steady, concerted pressure, not o- 
1 1 e miKtnrv force, a gams t 


- *• 


tireSandmists- ran 

£n thwmttdby 

judgment that a 

style operation-was not i«s^e 

SdilS^eUApeopleandl^ 

American obuntneswatid 

Oort an invaaon without a provo- 
SftsuchasaNicaWfJ^ 
siouS Honduras or Costa Rica. 


Un^orire A. Moticgr, 
^Sassistant secretmyof store 
W inter-American affnes, saw 
Wednesday flat he could not rule 
out the possibility of other steps, 
Schas ifacre of Nicaragua’s as-, 
sets in the United States- 
Those assets were Aom . SMO 

^Tare^^^tobct^ 

. . rr~ 1 itinmit nn PltT ? -^) 




tire demonstration not De enu 
force, which might have caused ad- 
verse reaction abroad. 

In the end, the outwme was the 
same. Mayor Chen Xitong, vAo 
. J m J »r> CM thft PTOUD 5 rCD“ 


canic . luajvi __ 


5=3=. « S, “S 
srrsi®® 


witn tne cny » Tw^iv 

ing. The protest broke up shitty 

Xward, W^SpJSfuSS 

form of duress. City officra^smd 
Utter that the protesters were on 
their way bach to Shaann. 

Accounts of the meeting m the 
evening ncwspap», BramgJ^ 
baa indicated that the demonstfft- 
^Eenrdmkedbythetwo 
dty officials. „ 

“This action is totally wrong, 
Mr. Chen was quoted as saying 
“The tactic (rf wstructing pubhc 
order is a leftover poison of *e 
Cultnral Revolution and must be 
rectified. Young people most stress 
ideals and discipline. Return qindc- 

tv to your units and make conmbur 

fious to Shaanxi's construction. 

It was the first time aprotest had 

been reported in the controlled 
aHhro - h news of the 


New York Times Service 

at ^^"^^^n lhe ” U £ 

^■SFAfKls-i 

sSsasfisss 

a military man. .. 

The witness, Rebecca Qmjano, 

^"isawasoldier holism 

Sid at the back of Senator 
Aquino’s head and, simnltaneous- 

ly,l heard a gunshot. 

Miss Qujjano said ihai one « 
££«? 
ss^rSS 

Philippines on Aug. 21, 1983^ftor 
of sdf-imposed exile m 

the United Slates. _ 


citizen’s fact-finding board that 

25nrilitaiy men and one avihan 
who are accused of murdering Mr. 

^Tfc£e charged indude.FabianG 
Ver, the former Philippine armed 
forces chief of staff, wbois a dose 
friend of President Ferdinand E. 
Marcos. 

The milk 
were 


105 - 

e military men deny that they 
responsible for Mr. Aquino s 

tA* munnnmnit fflVCStl© - 



tion immediately alter me 
nation concluded that Mr. Aqumo 
was shot on the tamac of the Ma- 
nila international Airport by KO- 
noiman a lone BimiXian W1U1 



lando uamiau, a wui. 

Communist affiliations. 

The prosecution numiiMM thjt 
Mr. Galmai. ™ gA **3* 
(Cootinned on P»ge % C®* 5 ' 


fte Pbilippmes, d^ihs by sLamdon reflect probto 
that afflict the whole natron. 


Chinese press, ~r 

sit-in had passed rapidly through 
Beijing by word of mouth. 

Many young people seemed ex- 
cited by the devdopmenLAl- 
tirouah me administranon w LX ®S 
5S&g, China’s leader has re- 
juSeontnta. thewB sdU frui- 
tion, particularly amo ng you ng 

people, over the daw progrej m 
opening up the political pwcess. 

F<ar the demonstrators, there was 
(Co^omedcmPage2,Col-5) 


at amici me 

attacking those who aid gnemlias. 

. . .1 J 


tacking those who aid gnemuas. 

The spmMfcte^e pto could M> ™d® •*“»■ flS 
hj.LSdmraearchiostiffi lesiud- 

B Fhmce’s Bovemmeol, which laces an etaam 3*”. “ "” ssur ' 

ing the press, but there is resistance. 

WEEKEND 


pressur- 

wgeS. 


WEEKEND . th . 

■ An** Kertesz, the photographer* remains at 90 a 
everyday. 


BUSINESS/ FINANCE , . 

■ E.F. Hnthm & Co. pleaded guilty lo 2^)00 coonls of wne 
fraud. 


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\ *"*" 



r 




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124k 

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6745 a 

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E%t. Solos 134 
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FEEDER CA 
4U00Kn.-em 
7393 64 

tin 66 

73-00 67. 

7232 67. 

7U0 67. 

7940 *9. 

Esf. Soles 19 

Ptbv.DqvObo 
HOOS(CME) 
30000 lbs.. COM 
SSM 46. 

5597 48. 

54-17 47-' 

5195 45J 

5045 461 

5000 *61 

4745 453 

49JIS 47X 

4aa 479 

Erf. Solos 5,9: 

Prev.DovOpei 
PORK RELLII 
30000 lbs.- cant: 
6Z4» *1.1 

S147 62.1 

8065 602 

7*90 63.1 

7040 644 

7540 704 

7640 709 

Eat. Sates 74* 

Prw.DavOpan 


COFFEE CUT 
37jaHtM.-amts 
15240 1224 

14990 121# 

147.50 12 ?Jf 

14640 1272 

MS-50 ITS u 
14540 131# 

14050 IIS# 

14240 1327: 

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Prcv.Dcrv Ctocn 

SUCARWORLC 
1 1 1000 lbs. -ami 
a jt. 

*95 151 

"45 1 T. 

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9-33 45) 

649 5JX 

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Erf. Sales 
Pr*v. Day open 

COCOA (MY CS( 
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2110 1961 

Pnw.DovOoen 




Page 2 


INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 


+*R 


? Social Volcano ’ Erupts in Philippine Area 


By Steve Lohr 

New York Times Service 

BACOLOD, Philippines — Almost every day 
here and in most samjanding towns, one sees 
the funeral processions that people say have 
become increasingly common in this province of 
■the central Philippines. 

Along the roadside about a dozen people 
walk slowly, two of them carrying an infant’s 
coffin. Children, most of them die offspring of 
impoverished sugar workers, are dying of star- 
vation or more often of tropical diseases wors- 
ened by severe malnntrition. 


tjve offered by the rapidly growing Communist 


insurgency. 

Heavy debts limit the ability of President 
Ferdinand EL Marcos’s government to help the 
area. A special task force has been scuip^to 


“Hunger is the issue hone now,” said Bishop 
nioY. 


Antonio Y. FortLch of Bacolod. 

Yet while hunger is the most pressing con- 
cern, the province of Negros Occidental, the 


address the problems of an estimated 
sugar wodm now facing unemployment as the 
harvest and milling season end. 

“The government conies out with big press 
releases and nothing else,” said Leonardo J. 
Gallardo Jr., executive vice president of the 
Negros Economic Development Foundation, a 
private organization. 

In a striking break with the ways of the past, 
some of the sugar planters themselves are seek- 


^ Veople are beginning to listen 

to us,’ said a land reformer. 


social, economic and political problems that 


-reflect those afflicting the whole nation. 

The gap separating the rich and poor is pro- 
nounced throughout the Philippines, but partic- 
ularly so in tins province, with its gnlf between 
the landless workers and the affluent hacienda 
owners. This yeafs crop in the province, where 
half of the nation's sugar is grown, is expected to 
' be down by nearly 40 percenL 


As poverty has worsened, a Communist in- 
surgency has expanded more rapidly in the 
province than anywhere else in the Philippines, 
according to foreign and Philippine mmtary 


analysts. 

The New People's Army, the military ; 


Army, the 

the banned Communist Party, was said in 1! 
to have 30 to SO armed regulars in the province. 
‘ Now, estimates of the guerillas’ strength range 
- up to 1,000, and there are reportedly several 
1 thousand sympathizers willing to offer them 
food and shelter. 

Residents are gripped with a sense of crisis. 

This province is a social volcano," said Dan- 
iel L. Lacson Jr., a 38-year-old business leader. 
“The threat is real.” 

The future of the province, like that of the 
Philippines, may be determined by the race 
between belated social change and the alteraa- 


ing a change in policies. A handful of hacienda 
owners are permitting workers to use some of 
the plantation lands to grow food and cash 
crops. 

The land-sharing effort is led by a group of 
young progressive planters, often scions of the 
men whose names arc seen on street signs 
throughout the province. Although the private 
drive has been widely praised, skeptics say the 
gesture is too little and too late. 

Communist rebels say they are working for 
constructive change. Thar violence, they argue, 
is justified because it is the only method to 
counteract the Philippine military, which they 
say frequently kills and tortures civilians to 
st5le opposition to the Manx® government 

“A change is due in this old and ummp t 
political system,” said Commander Benz, a 36- 
year-old guerrilla leader in the province. The 
commander, who was educated at the Universi- 
ty of the Philippines, added: “We hope it will 
take place with the least possible bloodshed. We 
have established peace and order in all the areas 
where we operate.” 

A history of looting and physical abuse by the 


military in the region has increased the ranks of 
Communist sympathizers. In his Roman Catho- 
lic parish in the southern town of Kabaukalan, 
Monsignor Josefino Sedan remarked, “In the 
barrios, people are more frightened by the mili- 
tary than try the New People’s Army.” 

It was the advance of the Communist insur- 
gents that made many hacienda owners recep- 
tive to the idea of Anting workers the use df land 
to grow food over thepast year. 

The land-sharing effort is seen as a pr ogr am 
to HmI with the immediate problem of hunger 
and to give the province time to diversify into 
other agricultural products. The goal of the 
planters is to lend the workers 10 percent of the 
500,000 acres (200,000 hectares) of sugar farms 
in the province by the end of the year. 

“People are begriming to listen to us — 
they’re scared,” said Michael K. Suarez, a 39- 
year-old planter and a leader in promoting land- 
sharing. 

Mr. Suarez’s experience with land-sharing on 
his 500-acxe farm 23 miles (40 kilometers) 
northeast of Bacolod illustrates both the bene- 
fits and the difficulties created by this brand of 
reform. 

Last April, he told the 135 families on his 
hacienda that they could grow crops on 85 acres 
of his land. On half, they bad exclusive use of 
the laud; cm the other half they amid plant 
sweet potatoes, peanuts, mung beans, rice and 
vegetables between the rows of sugar cane — a 
method known as intercropping. 

The workers and Mr. Suarez, who gave the m 
seeds and encouragement, agree that the pro 
gram has been a success. The laborers ate half of 
last year’s harvest and sold the other half, with 
each family receiving an average erf $30 in cadi 
enabling it to boy a tittle more food or clothing 
or to pay for a child’s school tuition. 

Mr. Suarez recognizes that his workers’ atti- 
tudes have beat altered permanently. “Once 
this has started,” he said, ‘T can never go back. 
My workers have become independent and self- 
reliant. They will never go back to being depen- 
dent on me to feed them.” 



WORLD BRIEFS 


Tass Says U.S. Is Toisoning’ Relations j 

MOSCOW (WP) — Tass, the Soviet news agency, accused the United 
totes on Wednesday of “poisoning the atmosphere’* of l/A-Soviet 
totions with its reaction to the shooting death of a US Army mqra by a 


:!(i 


States 

relations with its reaction to 
Soviet sentry . 

Tbc mention of the March 24 shooting of Major Arthur D. Nicholson 
Jr. in East Geratany was the first in the Soviet press since US. and Soviet 
military officials met last month to discuss ways of preventing similar 
incidents. 

Tass affirmed that both sides had pledged at the meeting not to use 
weapons in detaining or expelling members of nafitanr liaison misiuotis. 
Bat it also restated the Sonnet position that M^or Nxholsoa had been 
caught spying and was shot not as a member of a Unison mission bat 
“an unknown trespasser.” 

“On the whole, the meeting, it would seem, promoted settlement of die 
situation,” Tass said. 




2 U.S. Diplomats Detained in Poland 


WARSAW (AP) -—Poland accused two UJ5. dipterals’ Wednesday of 
taking part in an illeg&l May Day.parade in the southern aty of Krakow, 
while the US. Embassy denied the allegation and asserted that the 
diplomats were mistreated by the polices . - : 

PAP, the official Polish news agency, said that the UJSL consul in 


Kxakow, identified as David Hopper, and a first secretary at the embassy 
in Waraaw, identified as WHtfam I 


detained for being part of as 

le.” The group, PAl 


Harwood, were among 15. _ 

illegal parade.” The group, PA^^^wss^^m^gsa^S^ogB 
carrying posters of hostile contents and throwing leaflets." 

The US. Embassy, in a statement, called the assertions “compkfc 
erroneous" and said the United Steles had protested the “phyri 
mistreatment and detention of these two accredited diplomats. The 
statement said that one was “pushed, struck, locked and forced” into an 
unmar ked police vehicle when the two Americans protested their deten- 
tion and showed the police their diplomatic identity cards. - 


Jail Term Asked for Alleged Oslo Spy 

OSLO (AP) — A prosecutor demanded on Thursday the maximum 
allowable prison sentence, 20 years, for Amc Tiebolt, a former diplomat' 


TU New Tort Tfexn 


Fffipinos cut sugar cane in the fields of Negros Occidental. 


Swedish Services Slow 
As Gvil Servants Strike 



said 


The Associated Press 

STOCKHOLM —About 20.000 
key Swedish civil servants went on 
strike Thursday to bade demands 
airtraf- 
services. 
Employers 
apronriseto 
lode out another 100,000 employ- 
ees starting Friday, inefarimg most 
of the country’s teachers. This 
would dose down _ 
universities and high 
Sweden. 

“We have no other choice,' 
Birger Rackstrom, director 
of Staiens Arbetsgivarverk, 
payers’ agency. 

Air traffic controllers, custom 
officers, railroad freight dispatch- 
ers, teachers and patrolling police 
officers stopped working as last- 
minute government mediation ef- 
forts faded. The union selected 
people in lay posts from its 265,000 
members throughout the dvD ser- 
vice to join the strike. 

AH civilian air traffic came to a 
halt and Scandinavian Airlines 
System, or SAS, moved its fleet to 
Oslo and Copenhagen in an effort 
to maintain international flights. 


em- 


NATO Exercise in Denmark 


The Associated Press 

COPENHAGEN — The North 
Atlantic Treaty Organization’s 
Mobile Force — intended to re- 
spond quickly to military emergen- 
cies in Europe — is to start an 
exercise called Albatross Exchange 
85 in Denmark on May 28, officials 
said Thursday. 


The strike by customs agents hit 
bard at Sweden's weakening for- 
eign. trade, virtually stopping ex- 
ports as well as imports of such 
goods as fruit and vegetables need- 
ing customs clearance. 

The ctvQ service board rejected 
the union's demand for an hnm edi- 
ate pay increase of 3.1 percent, of- 
fering oaly 2 percent starting next 
January. The union referred to a 
compensation clause that could 
give its members an extra raise to 
be even with private industry. 

The strike could worsen the re- 
cent deterioration in the Swedish 
balance of trade, which is another 
problem emerging for the govern- 
ment. 

The latest figures released by the 
Central Statistical Office showed 
that the country’s trade surplus 
slumped to rally 1.6 billion kronor 
($181 million) in the first quarter of 
this year from a surplus of 9.4 bil- 
lion kronor in the corresponding 
period last year. 

In speeches Wednesday, Mr. 
Palme and other cabinet members 
expressed sharp criticism of the 
union. 

“No group can avoid its responr 
abilities to the nation’s economy,” 
Mr. Palme said. 

Stig Malm, chairman of Land- 
sorganlsationcn, Sweden's biggest 
trade union confederation, noted 
that some of the federation’s mem* 
ben settled last year for less than 
what was being demanded by the 
government workers. 

“What would happen if every- 
body went on strike!?*” Mr. Malm 
asked. 


Mrs . Reagan Gives German Parents 
$5,000 to Help Combat Drug Abuse 


The Associated Press 

Nancy 


BONN — Nancy Reagan 
told the parents of drag addicts 
Thursday that together they 
“can perform miracles, " and 
she presented a 55,000 check to 
help parents establish drug pre- 
vention groups in West Genna- 

ny- 

Mrs. Reagan joined Mari- 
anne von WeizsBdter, the wife 
of the West German president, 
after official welcoming cere- 
monies for President Ronald 
Reagan, and listened to eight 
parents teD of their addicted 
children. 


It was Mrs. Reagan's only 
official engagement in Bonn be- 
fore flying to Rome on Thurs- 


day afternoon for a three-day 
visit that was to include a visit 
to a drag treatment center and 
talks on drug abuse with Pope 
John Paul D. 

She is scheduled to return to 
Bonn on Saturday to accompa- 
ny Mr. Reagan on the rest of his 
European tour. Ai each of the 
stops on the tour she has her 
own program, and is scheduled 
to give another $5,000 check to 
a drug prevention group in Por- 
tugal next week. 

Mrs. Reagan told the mem- 
bers of West Germany’s “Par- 
ents' Circle” that their work in 
stimulating parent awareness 
programs was a key dement in 
preventing drug addiction 
among children. 


Filipino Witness Tells Court 
She Saw Soldier Kill Aqnino 


(Continued from Page 1) 

murder as well as with the dftaih of 
the opposition leader. 

Miss Quijano's testimony 
seemed to give the prosecution new 
confidence in a court case plagued 
military as part of the assassination 
conspiracy. The 26 accused men 


plane on which Mr. Aquino re- 
turned to Manila, gave her testimo- 


tbe confiscation 
(about $122,000). 

The prosecutor, Lasse Qvigstad, asked the court to find Mr. Tkdxrft 
guilty of all 40 charges mentioned in an indictment accriorig trim of 
having passed classified information to the Soviet Union andliaq since 
1974. On Monday, Mr. Qvigsted described the Trehdi care as “themost 
serious espionage affair in Norway since World War D.” 

Under Norwegian law, 20 years is the longest sentence permitted for 
any crime. Defense attorneys were expected to respond b^nuring Thnrs- 
day, and to call for an acqmrtaL Mr. Treholt has denied assertions by the 
polire that he confessed. A verdict is expected by mid-May. ' 


nyina packed courtroom. After 
; Mr. Amrii 


seeing 

jano said, she cried oat and 
slumped down, unable to lode out 
from the plane window any longer. 


Israel Is Said to Deploy Nuclear Arms 


are charged with Mr. G al man ’s question Miss Qurjano, a 32-ycar- 
by missing witnesses and frequent old businesswoman. They said 


delay 


eiays. 

“She gave the first direct testi- 
mony that one of the soldiers es- 
corting Senator Aquino killed 
him.” said Manuel Herrera, the 
chief prosecutor. “We now have 
sufficient evidence to prepare 
wrapping op the case." 

Miss Quijano, a passenger on the 


WASHINGTON (Renters) — Israel has deployed a number of nu- 
clear-tipped missiles in the Negev Desert and the Golan Heights, thc U.S. 
newsletter Aerospace D^y reprated Thursday. 

The influential publication, quoting mudentified sources, said the 
The defense lawyers chose not to intermediate-range Jericho-2 missiles were mounted on trada and sap - 
~ ‘ ■*” — ported by nuclear-hardened underground facilities. 

Israel is widely believed to have the capability to build unclear 
weapons, but it never has acknowledged possessing or deploying any of 
the weapons. U.S. officials routinely refuse to answer questions on the 
subject 


there was no need to cross-examine 
her because her testimony contra- 
dicted evidence already on the re- 
cord. 


SK? U.S. Panel Votes to Sanction Pretoria 


Israel Threatens Border Retaliation 


The citizen panel’s report in Oc- 
tober was a bio w to toe Marcos 
government because of the high- 
ranking military officers implicat- 
ed. Yet, the board report was not a 
legal decision, even though it 
saved as the baas for die charges 
filed in the court case, which began 
three months ago. 


WASHINGTON (AP) — The House Foreign Affairs Committee, 
which is controlled by Democrats, voted 26-6 on Thursday to impose 
economic sanctions against South Africa for its system of racial apart- 
had. 

The legislation, opposed ty the Reagan administration, would prohibit 


new U.S. investment and loans in South Africa if approved by the full 

mid suspend the 



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* Reuters 

JERUSALEM — Israel intends 
to establish a “balance of fear” 
within a border security zone in 
southern Lebanon and wQl retali- 
ate against villagers aiding anti-Is- 
raeli guerrillas, a senior official 
here said. 

The Israeli official, speaking on 
the condition that he not be identi- 
fied. said that plans were to set up 
local mOitias of 12 to 24 men in the 
three- to six-mile (about five- to 
10-kilometer) buffer area. 

He said that Israel was spreading 
a message among the south Leba- 
nese: they can either prevent guer- 
rillas from entering the border area 
and live in peace, or cooperate with 
anti-Israel activists from the north 
and risk retaliation. 

The South Lebanese Army, an 
Isradi-backed militia, will continue 
to patrol the area, but its members 
from outside the security zone will 
be discharged and sent home, the 
official sod. 

He said th£t Israeli fences would 
be stationed just across the border 
and would come to the aid of the 
South Lebanese Army and local 




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militias if they failed to maintain 
security. 

“In the security zone, there will 
be a balance of fear,” (he official 
said. 

“Nabatiyeb had 4,000 inhabit- 
ants when we came in,” he added. 
“Now it has 60,000 and it can easily 
be returned to 4,000 in a matter <rf 
hours. They ioaow it and that’s why 
they’re behaving.” 

Defense Minister Yitzhak Rabin 
has said that villagers in southern 
Lebanon will not be left undis- 
turbed by the Israelis if northern 
Israel is attacked. 

Israel is using the remaining time 
before the be ginning of June, when 
the withdrawal is to be 
to convince 
population that Israeli soldiers w£D 
be at the bed: and call of the local 
iwflirias- 

Isradi officials said they must 
reverse the impression that Israel 
has turned its back on its northern 
border by withdrawing its forces. 

The Lebanese who live in the 
zone include Shiite Moslems in the 
west, Christians in the central sec- 
tor and Druze Moslems in the easL 

The sector that concerns Israeli 
officials most is the Shiite western 
area, where the French contingent 
of the United Nations peacekeep- 
ing force is stationed. They say they 
believe that the area is most suscep- 
tible to Palestinian infiltration aid- 
ed by Syria. 

Israel will continue to pave 
roads, teach farming and provide 


medical care and water in the secu- 


The panel reached its conclusion 
of a military conspiracy based on 


rity zone, a policy begun in the late H-month investigation. But for 
1970s and WgLhmed over the ^ w*™* “d confhctmg evt- 


past two years. It also has bolstered 
fortifications at the border to block 
suicide car-bombers. 

Israeli officials said the recent 
influx of Christian refugees fleeing 
Moslem militias in the north has 
disrupted their security zone plans 
somewhat, but they do not expect it 
to delay the schedule for withdraw- 
al 


deuce from military personnel, so 
witness to the crime had come for- 
ward until Miss Quijano testified 
Thursday. 


House of Representatives and Senate. It also would suspend the sale of 
U.S. computers to South Africa and shutoffimports of me South African f. 
gold coins called Krugerrands. *■, 

AH six negative votes came from Republicans, who signed (hat the ’ 
sanctions would worsen conditions for the blade majority in South Africa 
rather than encourage improvement in me rdations there. 


Her credibility as a witness has 
been questioned publicly in the 
past because she faces car- theft and 
embezzlement charges and because 
of her unexplained failure to testify 
until now. 


Public Protest in China Ends 
With New Exile From Beijirw; 

it Israeli soldiers will v 


NAACP Sues U.S. Justice Department 

NEW YORK(NYT) — The National Association for the Advance- 
ment of Colored People has filed suit against the UJSL Justice Department 
in an attempt to block the government’s effort to overturn quotas for the 
hiring of minority people and womcn. 

The lawsuit, fifed Wednesday in federal district court in Washington, 
came two days after a Justice Departmenl motion to modtfy the affirma- 
tive action programs used by the police and fire departments in Indianap- 
olis. 

Officials of the civil rights organization said the suit was planned 


m.- 


before the government’s move Monday. They said it was in response to 
letters sent by the Justice Department earner this, year to 50 states, 


counties and dries, including Indianapolis, urging them to remove 
numerical goals and quotas in affirmative action plan* 


(Continued from Page 1) 

irony in being told by Mr. Chen 
that their actions smacked of the 
Cultural Revolution It was at the 
height of this upheaval that the 
protesters, as youthful Red 
Guards, answered Mao’s call to re- 
settle in the countryside and “learn 
from the peasants.” 

This exhortation actually sprang 
from more than the ideological rea- 
sons given by Mao, including as it 
did a detire to get the rampaging 
Red Guards back under controL 
They had engaged in a wide 
of excesses at the beginning of 
Cultural Revolution. 


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Nearly 17 years later, disillu- 
sioned and angry, remnants of the 
resettlement movement, those who 
remain in the provinces unable to 


get permission to return home to 
the big dries, still run into the hun- 
dreds of thousands. More than 10 

at the oatseL Vhose who married 
and found homes in the country- 
side were told later that the cities 
were too overcrowded fra them to 
return. 

So, far from offering the protest- 
ers a promise of relief in the future. 
Mr. Chen seemed to indicate that 
they must remain in Shaanxi fra 
good, mid rerive the enthusiasm 
that canted them there in the first 
place. 

• The official accounts quoted the 
mayor as haring said that tbc reset- 
tlement of young people was “a 
glorious obligation ana duty” that 
predated the Cultural Revolution 
and would continue. 


For the Record 


Argentina aid Chile signed an agreement Thursday settling their 
dispute over the Beagle Channel, in a ceremony pretided over by Pope 
John Panl Q at the Vatican. The accord, medtated tty the Variety assures 
Argentine maritime sovereignty in the South Atlantic and limits Chile’s 
sovereignty to the Smith Pacific. (AP) 

A suspected 
suspect m the ! 
arrested Tuesday! 

Ballesteros, was one of four suspects in the murder of Enriqne Camarena 
Salazar, the drug agent, who was abducted in February. (NTT) 

The rufiog white National Party in South Africa has won three mid- 
term spcdal dections, which were seen as tests of support for the limited 
steps taken to reduce official racial segregation. . . (AP) 

Iran w3 bold presidential elections before July 22, Uwlhterior Ministry 
said Thursday. President Aii Khamenei, Iran’s third president since the 
1979 revolution, completes bis feur-year term in September. (Reuters) 


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UN Defends Ethiopia ^ 
Over Camp Expulsions 




Reusers 

ADDIS ABABA — The highest 
r anking United Nations nffinV in 
Ethiopia said Thursday that the 
evacuation of more than 50,000 
famine victims tmm tbar camp 
had been necessary and voluntary 
but had been done with too wwirfa 
haste and too little preparation. 

The UN special representative in 
Ethiopia, Kurt Jansson, said after 
visiting the camp at Ibnet in north- 
ern Gondar province: “The eco- 
nomic prindpes of helping people 
to go back to their villages aban- 
doned due to drought is justifi- 
able." He added, however, “Too 
much haste and lade of preparation 
was evident." 

The government had asked the 
people to return to their homes to 
start cultivating their land Iwange 
rain had f alien. 

Officials of Ethiopia’s Relief and 
Rehabilitation Commission said 
that 51,000 of the camp’s residents 
had been moved in 27 days, includ- 
ing 35,000 since Tuesday, leaving' 
11.500 people of whom 3,500 were 
children. 

Mr. Jansson said the refugees’ 
huts at Ibnet had been burned after 
the occupants had left to avoid 
health haVarrl^ 

[The Ethiopian government has 
arrested the official responsible for 
burning the relief camp. United 


Press International quoted a UN 
spokesman, Djibril Dialks, as say- 
ing Thursday m New York. 

[Mr. Diallo said at a news con- 
ference that Mr. Jansson would 
meet in Addis Ababa on Friday 
with the Ethiopian leader. Lieuten- 
ant Colonel Mengistn Haile Mar- 
iam to voice "UN. co n cern** over 
the incident.] 

Mr. Jansson said he did not fore- 
see much suffering by those who 
had been expelled because retief 
workers said the refugees had been 
given sufficient provisions, seed 
and [atm tools. 

Dawit Wakle Giorgis, head of 
the government Rdkf and Reha- 
bilitation Commission, denied a 
press report that the famine victims 
had been forcibly removed, caffing 
the stray “groundless and false.” 


re*. 




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v.. 


■ US. Criticizes Expubfons 
The UA government has de- 
plored the expulsions »»*«! called an 
the Ethiopian government to. take 
“immediate steps” to rectify the 
situation. The Washington Post re- 
ported Wednesday. - 
The director of the Agency fra- ' 
International Devriopment^hi Pe- 
ter McPherson, called tee action 
“brutal” and “barbaric” and saidit 
amounted to the unpoafioo of- * 
“death sentence” rat tiwosaneb « 
residents of tbc cantp: - 






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_J 


INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 


Page 3 


*U.S. Contends Moscow 
Backtracked’ at Geneva 


1 _ % Don Oberdorfer 

, and Walter Pincus 

Wt. ishingicn Past Service 

i^t Washington — The Soviet 

^ .Union refused to discuss U.S. of- 
“ -fersto limit offensive nuclear arms 

£ during the first round of the Gene- 
- va negotiations, which ended last 
week, and “backtracked" from ear- 
.tier Soviet offers, a State Depart- 

T .ment official said this week. 

Moscow's negotiators insisted 
..on the “banning’ 1 of President 
'Ronald Reagan's space weapons 
plan os a first step toward any re- 
duction in the offensive area, ac- 
cording to a senior Reagan admin- 
B istration official. The official made 
is| '.bis comments Tuesday as U.S. ne- 
hn go da tors at Geneva briefed Mr. 

•at .Reagan on the talks, 

n? No progress was made toward 
! P I '-resolving the disputes over compli- 
acc ance with earlier arms agreements. 
P*™** notably a big radar system now 
tats. - under construction in Siberia, the 
p ■ official said. 

*“*■ Disclosing details of the first six 
ror weeks of the Geneva negotiations, 
~ • the official said in a State Depart- 
° 1 'ment briefing that Soviet intransi- 
re ~ - gence had been anticipated and 
W - that it probably would continue for 
the foreseeable future. 

This glum assessment of the 
opening round of talks paralleled 
that of the Soviet leader, Mikhail S. 
.-Gorbachev, before the Co mmunis t 
. -.Party Central Committee last 
. .week. “The completed first stage of 
1 ,:the Geneva talks," Mr. Gorbachev 
said, “already indicates that Wash- 
. ■ington does not seek agreement 
. with the Soviet Union." 

- . Both sides began the talks insisi- 
. ing on confidentiality as a sign of 
seriousness of purpose and an es~ 
.sential ingredient of real progress. 

- The U.S. “background briefing," 
...the most extensive account so far 


made public, was justified on the 
grounds that Mr. Gorbachev has 
discussed the negotiations in two 
recent speeches and that his foreign 
minister, Andrei A. Gromyko, had 
set forth Soviet positions in a Janu- 
ary news conference. 

The Soviet approach to the first 
round at Geneva “concentrated on 
providing a base for their propa- 
ganda efforts,” according to the 
U.S. official. He expressed the view 
that Moscow would seek to force 
Washington to make concessions 
under the pressures of public opin- 
ion in the United States and in 
Western Europe, and that the Sovi- 
et position would change only if 
and when the public campaign 
failed. 

In returning to Geneva after 
boycotting arms talks for more 
than a year, the Russians insisted 
that these are “new negotiations." 
It was suggested that this is part of 
their rationale for revising earlier 
arms positions. 

Despite Mr. Gorbachev's state- 
ment on Friday that Moscow, “by 
way of an opening move," had sug- 
gested 25-percent cuts in offensive 
strategic arse nals, the Soviet side 
did not make such a proposal in 
Geneva, the official said. 

A proposal for a major cut in 
missile launchers, but not in war- 
heads, bad been made by the Rus- 
sians in earlier negotiations, be 
said. Previously, ihey also had been 
w illin g to discuss numerical limi ts 
on air-launched cruise missiles, but 
now are insisting that these weap- 
ons be banned. 

The Russians, in earlier negotia- 
tions on intermediate-range mis- 
siles, had discussed a freeze on the 
□umber of SS-20 missiles in Asia, 
in response to U.S. insistence on 
“global limits.” This apparently 
has been withdrawn, according to 
the official. 




By Karen DeYoung 

Washington Pan Service 

LONDON — The Reagan ad- 
ministration's Strategic Defense 
Initiative could damage interna- 
tional stability, encourage a first- 
strike strategy for the superpowers 
and lead to a defense rift with Eu- 
ropean allies, according to a lead- 
ing institute for military research. 

In its annual strategic survey re- 
leased Friday, the International In- 
stitute for Strategic Studies, based 
here, said the administration's 
space-based defense program 
against missiles, popularly known 
as “star wars,” “promises to be the 
most controversial issue of the 
coming year " 

The survey described 1984 as a 


year when East-West relations 
largely “marked tune." 

“Neither the course of events, in 
1984 nor the exchanges in the early 
months of 198S raises hopes” that 
the time was used fruitfully, it said. 

Although the Soviet Union ap- 
pears to have set aside its insistence 
that Western cruise missiles and 
Pershing-2 missiles be removed 
from Europe before arms control 
negotiations could prooeed, the 
study said the Russians must show 
“considerably more flexibility" if 
an impasse similar to the Soviet 
walkout on the 1983 talks is to be 
avoided. 

The report predicted an increase 
in “the vigor and forthrightness 
with which Soviet policy is present- 
ed" under the new leadership of 


Mikhail S. Gorbachev, but noted 
that “there are as yet no signs that 
there will be much change in Soviet 
foreign policy " 

Additionally, it said, the Rus- 
sians are likely to run into increas- 
ing problems or “alliance manage- 
ment” in Eastern Europe, where 
“her allies are a dec linin g asset” 

With no signs that either super- 
power intends to change policy in 
order to “bridge Che gap" between 
them, the institute said the space- 
defense proposal had opened “a 
controversy which will run for 
many years.” 

The report said the proposal 
struck at the heart of strategic po- 
licy “because strategic defenses 
conflict with the logic of assured 
mutual vulnerability — the founda- 


tion of stability between the super- 
powers for over 20 years." 

Noting that “a substantial body 
of scientific ccmion disputes the 
feasibility of the SD1 cm technical 
grounds,” the institute said that the 
United States’s entry into a mixture 
of strategic defenses would make a 
“re-examination of the founda- 
tions” of nuclear defense and de- 
terrence necessary. : 

Such a re-examination “will call 
for a major intdlectual effort (and 
mneh more clarity of thought than 


Gary Dotson meets the press after he was freed. 

Illinois Man, Freed on Bail, 
To Appeal Rape Conviction 


stability ratha 

Senate Votes to Limit Arms Spending 


Washing ion Past Service 

DIXON, minois — Gary 
Dotson has been released on 
510,000 bad after six years in 
prison, pending appeal of his 
conviction for a rape that the 
accuser said had never hap- 
pened. 

“You can't beat freedom," 
Mr. Dotson said Wednesday af- 
ter he arrived at his mother’s 
bouse in the Chicago suburb of 
Country Gub Hills. Bui he said 
he was “skeptical’' that he 
would remain free and did not 
“want to look too far ahead just 
now.” 

Mr. Dotson. 28. was found 
guilty in 1979 of kidnapping 


and raping Cath/een Crowell 
Webb two years earlier, when 
she was 16. He has served six 
years of a 25- to 50-year sen- 
tence. 

In a hearing last month, Mrs. 
Webb. 23, married and living in 
New Hampshire, said she had 
falsely accused Mr. Dotson be- 
cause she feared becoming 
pregnant by a teen-aged boy- 
friend. 

On Tuesday, an Illinois Su- 
preme Court justice, Seymour 
Simon, ordered Mr. Dotson re- 
leased, pending appeals. His 
lawyer has petitioned for a new 
trial and dismissal of the origi- 
nal verdicL 


(Continued from Page 3) 
curtailment in Social Security cost- 
of-living increases. 

Mr. Weinberger lobbied senators 
personally before the military vote, 
telling reporters that a zero in- 
crease after inflation “is not a de- 
fease program, it’s a prescription 
for weakening the United Slates.” 
Mr. Reagan lobbied by telephone 
from Bonn, where he is attending 
economic summit talks of the seven 
leading industrialized nations. 

Mr. Reagan and Senator Robert 
J. Dole, the Republican majority 
leader, also were struggling to keep 
a Republican package of spending 
cuts from unraveling. 

The budget package, before the 
Social Security vote, would have 
reduced the deficit by £52 billion . 
next year and by nearly £300 bil- 
lion over three years by eliminating 
and cutting many domestic pro- 
grams and allowing the military 
budget to increase. The Soda! Se- 
curity amendment reduces the pro- 


-Shuttle Scientists Make Progress in House Cleaning 


- The Associated Press 

HOUSTON — Using a vacuum 

* cleaner and plastic bags, scientists 
'aboard the Challenger considera- 
bly reduced but did not completely 

'•stop the flow of anima l food and 
feces into their space shuttle Thurs- 
■ day. and they reported that an ail- 
ing monkey appeared to have re- 
covered. 

“I can’t think of any better way 
■'to do it other than having some sort 
of bag that would fit over the whole 
; cage,” said Dr. Norman E Tha- 
.gard, one of two physicians on the 
'flight. “Unfortunately, we cannot 
. completely eliminate the explosion 
•'of all particles of food and feces 
‘ into the cabin.” 

! Still scientists said, they were 
very pleased with the round-the- 
^ clock research being conducted in 
two shifts in the SI billion, 23-foot- 
long (7-raeter) Spaceiab mounted 
in the shuttle's cargo bay. 

Wednesday, feces from one of 
the two monkey cages escaped and 
floated into the cockpit, more than 
- 25 feet from the module where the 
' ani mals are housed in the Europe- 
-’an-built Spaceiab. 

“Feces in the cockpit isn’t all 
.'that much fun. guys,” the mission 
^commander. Colonel Robert F. 
Overmyer, said in an exasperated 
.tone. “That really has me con- 

* rented. If we have monkey feces up 
;here, we surely don't nave any 

^health stabilization up in this 

During intrashuttle communica- 
tions overheard on Earth, the air 
force colonel said. "How many 
years did we tell them those cages 
'■weren’t going to work? Thai’s real- 
-• ly discouraging if we're going to gel 

* monkey feces up here. Son of a 
gun.” 


Of the squirrel monkey known as 
Primate No. 1. which had been 
moping in a comer, Dr. Thagard 
said, “He’s moving around a biL 
He came to the front of the cage 
and looked out. He's certainly 
drinking a lot of water now. He was 
really going at it. He doesn't seem 
all that interested in food yet, but 
he appears to be in no trouble and 
that snould pick up, too.” 

The shuttle’s crew also shut 
down a second failed experiment 
Thursday and flight managers in 
Houston decided not to extend the 
mission beyond its planned Mon- 
day landing. They had considered 
extending the flight an extra day to 
gain more scientific data, but they 


determined there was not enough 
fuel for an extension. 

Overnight, specialists on the 
ground worked out a new proce- 
dure for changing food trays in the 
cages that house 24 rats and the 
two monkeys. On earlier tray 
changes, large amounts of food 
particles and rodent pellets had es- 
caped and floated throughout the 
shuttle. 

Dr. Thagard and Lodewjjk van 
den Berg, a chemist, were assigned 
to try out the new procedures. They 
first cut power to the cages, shut- 
ting off the flow of air that had 
helped the waste matter to escape. 

With Dr. Thagard slipping plas- 
tic bags over the end of each old 


tray before extracting iL and Mr. 
van den Berg using a hand-held 
vacuum to sweep up particles that 
escaped, they needed more than 90 
minutes to complete the change. 

Meanwhile, an instrument that 
had been studying the chemistry of 
the upper atmosphere was shut 
down because pressure had been 
lost in a laser pointing system. 

Mission Control said the experi- 
ment had made 25 successful data- 
coUection passes that should pro- 
vide considerable information 
about the effect of manmade pol- 
lutants on the atmosphere. 

The failure of ihe atmosphere- 
measuring instrument left 12 of the 


Many in Congress Back Embargo 


(Continued from Page 1) 
sures taken by the United States, 
but they also did not indicate an 
intention to join the embargo/ 

Foreign Minister Edgardo Paz 
Bimica of Honduras, who is pan 
of a high-level Honduran delega- 
tion visiting Washington this week, 
said in an interview that Honduras 
had no plans to introduce an em- 
bargo against Nicaragua, but 
would consider doing so if the oth- 
er Central American countries de- 
rided on joint action. 

He said Honduras would not 
take the initiative in or ganizin g 
such action. 

Pablo Mauririo Alvergue, the 
Salvadoran ambassador to the 
United Slates and a prominent 
member of the governing Christian 
Democratic Party, said his govern- 


ment was surprised by the speed 
with which the Reagan administra- 
tion cook the decision and that El 
Salvador was still analyzing iL 

“We had not expected anything 
so soon.” he said. 

In terms of the potential effect, 
however, he said the latest mea- 
sures against Nicaragua could con- 
tribute “to malting the situation in 
Central America more serious — 
the conflict could take a more seri- 


■ Other Nations React 

Canada said Thursday that it did 
not agree with the embargo deri- 
sion, Reuters reported “The U.S. 
position is not shared by Canada,” 
an official said. 

The Australian government con- 
demned the embargo and criticized 
the Reagan administration Thurs- 



Embargo on Nicaragua Seen 
As Maudy for Symbolic Effect 


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(Continued from Page 1 ) 

ing to withdraw them quickly. Oth- 
er moves under consideration are a 
ban on travel to Nicaragua and a 
break in diplomatic relauons. 

He said that Mr. Reagan "is 
looking for different ways to get the 
attention of Nicaragua." 

A major question was whether 
the Soviet Union would try to gain 
an even larger foothold for itself 
after the embargo. In 1980, 30 per- 
cent of Nicaragua's trade was with 
the United States and 1 percent 
was with the Soviet bloc, but by Iasi 
year American trade bad fallen to 
17.5 percent or the total and trade 
with the Soviet bloc had risen to 20 
percenL 

Of more importance to Washing- 
ton and its Latin .American allies, 
of course, is that the Soviet Union 
and other East bloc countries have 
built up Nicaragua's military arse- 
nal considerably. 

The Reagan administration, like 
its predecessors, will go to some 
lengths to prevent “another Cuba.” 
Presumably, the Russians are 
aware of the risks of testing the 
United SLates. and that may be why 
Mikhail S. Gorbachev, in his meet- 
ing this week with President Daniel 
Ortega Saavedra of Nicaragua, lim- 

PEATH NOTICE 

WALKER, BA YARD 
Courageous and dearly beloved husband 
of Maud Tllghtnan. died at home after a 
low illness on April 30. 1W5. Devoted 
and loving father of Bayard Jr_ Mood 
Pratt. Cynthia Diacre. Loonie AdeJe. Da- 
vid EKrna and Christina. Grandfather of 
Elisha and Abby Pratt and Alexander 
and Nicholas Diacre. Mass of Christian 
burial to be held at The Church of Si. 
Thomas More, 65 East 89 Sl. NYC 
Thursday May 2 at 10:30 us. Interment 
private. In lieu of floo«ra. contributions 
to Memorial Sloan Kettering Cancer 
Center would be appreciated. 


15 experiments operating at 100 
percent and two abandoned, with 
experts on the ground trying to find 
a way to repair another that has an 
electrical short. 

That latter experiment is de- 
signed to study the effects of 
weightlessness on fluid drops. 

Specialists on the ground said 
they hoped to have a solution later 
Thursday. Taylor G. Wang, a phys- 
icist who is operating the experi- 
ment said, “I refuse to come home 
until I get this thing fixed.” 

Scientists were especially pleased 
by the performance of two Space- 
lab machines that are taking ad- 
vantage of weightlessness to pro- 
duce electronic crystals. 


jected deficit reduction by $2-5 bil- 
lion next year and by £21 billion 
over three years. 

Mr. Dole said an amendment to 
restore fuD cost-of-living increases 
to veterans, civil service and mili- 
tary retirees would also pass, and 
there were more than 60 amend- 
ments pending to restore proposed 
cuts in a variety of other programs. 

In alt the Republican plan was 
desisted to cut deficits to below 
$100 billion by 1988. a figure dis- 
puted by both Democrats and the 
nonpartisan Congressional Budget 
Office. 

In Bonn, Larry Speakes, a presi- 
dential spokesman, said, “We have 
always regarded these votes that 
take place during the week — there 
will be 50 or 60 of them — as part 
of the initial .ski rmishing that will 
take place as the budget heads to- 
ward final approvaL We don't 
think that this Soda! Security vote 
is the end of the world, as some are 
suggesting." 

The military debate centered not 
on whether to allow an increase, 
but on how large it should be. 

“I don't think we should be play- 
ing bingo with our national securi- 
ty,” said Senator Dan Quayle, Re- 
publican of Indiana, deriding 
senators who said they wanted to 
hold the rise in spending over the 
next three years to “zoo, three, 
three,” the after-inflation percent- 
age increases proposed in the 
amendmenL 

But Senator Mark O. Hatfield, 
Republican of Oregon and chair- 
man of the Senate Appropriations 
Committee, said in a statement is 
was “ludicrous to expect Ameri- 
cans to swallow enormous cuts in 
domestic programs while the De- 
partment of Defense continues its 
growth unabated.” 

The budget agreed upon by Mr. 
Dole and Mr. Reagan would allow 
spending authority to rise by 3 per- 


cent after inflation in each of the 
next three years. It would give the 

» i $24 billion more m 1986 
estimated 1985 outlay of 
$252 billion, a figure that neverthe- 
less is below the level Mr. Reagan 
recommended in January. 

Ml Grassley and Mr. Hatfield 
proposed a $21 billion increase for 
1986 by holding the spending au- 
thority increase constant with in- 
flation. For 1987 and 1988, the pro- 
posal called for after-inflation, 
increases of 3 percent, tat the cu- 
mulative effect would be to reduce 
the buildup by $17.7 billion from 
the Reagan- backed level. (AP, 
UPI). 


FBI Raids Hell’s Angels, 
Arrests 125 for Drags 

United Press International 

NEW YORK — FBI agents ar- 
rested more than 100 members of 
the Hell's Angels motorcycle gang 
and 25 other persons Thursday in a 
nationwide undercover crackdown 
on the group's drug operations. A 
state trooper was wounded in a 
roundup of 30 suspects in Connect- 
icut 

William H. Webstar, director of 
the Federal Bureau of Investiga- 
tion, said that merhamphefcimi n ex. 
cocaine, marijuana, hashish, PCP 
and LSD with a street value of 
approximately $2 million were 
seized during the raids in 14 cities. 


ANZUS Partners Set Talks . 

Reuters 

SYDNEY — Australia. New 
Zealand and the United States wtD 
hold informal talks this weekend in 
Australia on the ANZUS military 
alliance, officials from the three 
countries said. 


Echoing a cooceni voiced by sev^ 
eral West European governments, 
the survey said that even if the 
Strategic Defense Initiative were to 
prove feasible, “it could d am age 
stability rather than strengthen it” 
K, daring h shift from deterrence 
to anti-missile defense, “should one 
side have strategic defenses which 
the other does not, a first-strike 
strategy becomes more thinkable,” 
the institute warned. 

2n addition, it said, “defeases 
against ballistic missiles may en- 
courage the further development of 
other means of strategic a tt ack." 


BAUME & Mercier 

GENEVE . . . 

1830 



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day for not consulting Australia 
before imposing it. United Press 
International reported. 

Australia’s foreign affairs minis- 
ter. Bill Hayden, said. “1 consider 
the action severe and unlikely to 
bring the Sandinists to heel, but j 
rather increase their resolve to | 
withstand United Stales pressure." 1 

The Soviet news agency Tass ac- 
cused President Reagan bn Thurs- 
day of venting a “pathological ha- 
tred towards the Sandinista 
revolution" with the imposition ot 
the economic embargo. The Wash- 
ington Post reported from Mos- 
cow. 

Tass accused Washington of 
“playing up its dispute" with Ma- 
nagua in order to lay the ground- 
work for a military' invasion in 
Central .America. 


The International Herald Tribune and Oxford Analytica 
present a Special Conference on 
The International Business Outlook 
Christ Church, Oxford, September 19-21, 1985. 


ited his expressions of public back- 
ing to ■'economic development and 
also political and diplomatic sup- 
port." 

For the moment, the U.S. trade 
embargo is limbed to direct com- 
merce be l ween the United States 
and Nicaragua and is not so restric- 
tive as it could have been. For in- 
stance. it exempts U.S. subsidiaries 
in third countries from the ban. 
The administration also has no 
plans to press allies to follow suit, 
Mr. Mode;, said, although they are 
being briefed or the U.S. measures. 

Secretaiy of State George P. 
Shultz, who has repeatedly warned 
against imposing economic sanc- 
tions “that shoo't us in the foot,” 
was said to have prevailed in not 
turning the Nicaraguan embargo 
into a test case of allied solidarity. 

The official reasons given for the 
embargo were a mixture of previ- 
ously used argtunems about Nica- 
ragua's ties to the Soviet bloc and 
that it was making aggressive 
moves in Central .America. Mr. Or- 
tega's visit to Moscow also was 
mentioned. 

Under the law. a president who 
invokes trade sanctions on national 
security grounds must declare, as 
Mr. Reagan did Wednesday, that 
“the policies and actions' f of a 
country — in this case Nicaragua 
— “constitute an unusual and ex- 
traordinary threat to the national 
security and foreign policy of the 
United States and hereby declare a 
national emergency to deal with the 
threat." 

The words "national emergency " 
conjure up wartime mobilization, 
but officials said this was a techni- 
cality and should not be taken liter- 
ally. But the announce menL with 
its provocative language, had the 
effect of leaving the impression 
that more may happen eventually. 


overview 1 


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today’s and tomorrow's btisihe^ cUmatj^ j-ft-;;-; '.-••• 
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Page 4 


nVTERNATIOIVAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 


INTERNATIONAL CLASSIFIED 


REAL ESTATE 
FOR SALE 


SWITZERLAND 


SWITZERLAND 

FAMOUS RESORT AREA 


DO YOU WISH - 

* TO BUY AN APARTMENT 
OR A HOUSE? 

* TO RETIRE IN SWITZERLAND* 

* TO INVEST N SWITZERLAND? 


CONTACT IB: 25 YEARS OF EXPERI- 
ENCE <N BUILDING ANT SUNG 
PINE SWISS REAL ESTATE 


50DMSA. 

P.Ol Ban 62. 

1834 VBarv Switzerland. 
Tbt 456213 GESE GH 


20 Minvtee bam 


GENEVA 


AUTHOUZBl 

Luxurious apartments for tee. View on 
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Belvedere de L'Obs e rvofcte SA. 

18 Blvd. du PTiiiofte 
04-1205 Geneva. 

Tta 22/20 12 22. 

Telex 22822 SR. CH. 


ATTENTION FOREIGNERS 


government regulation 

longer pernfai f oreigners to bay 
ly ci tnw i nts m Montraux, except far 
those developments approved last 


jW^Apfirowd has bean jpxodedjor 


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■FORMATION A DOCUMENTS: 

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CH-7270 Dam Plate/ Switzerland 
Phone: 83/3 34 07 or 83/3 34 06 
Tbt 74657 


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CRAPS MONTANA 
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rooms. Credit 60%. Interest rate 675%. 
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Foreigners an buy aparttnarti an Ihe 
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spa for rheumatnnii. Bade loan OvaS- 
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gen 1, Switzerland. Tta 061/44 50 9a 


HH5H CLASS 7 ROOM VILLA FOR 
tee because of job chane. 2 bath- 
room. kitchen, 750 xjm, 9 kms from 
center of Berne with direct axess to 
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to nan Swiss Ctizans posuUe. Tta 


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SUNBEU-2 FUME 

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r.lSMesE. 


in rapid develop me nt geo with roce- 
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Cal NY (71 2) 486-7946 by May 10 or 
write alter June I Bax 2124, Hercdd 
Tribune, 92521 NeUty Cedex, France 


(Continued From Back Page) 


REAL ESTATE 
FOR SALE 


USA RESIDENTIAL 


1500 REEF WATERFRONT 

60 ooee North 5hore. Long blond. MY. 

‘ use SOmfcs 
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future suhdvbian. 

DANK GALE AGBUCY 
187 Podi Avenue 
Hurtenpon, NY 11743 USA 


NYC CONDOS 

5lh Aim. Deluxe 2 8 5 Bedroom 
C REME 06 LA CRE ME . 
fxqurer e condominumi with bedfriok 
vig views. Prime locations. 

Exclusively ours Cod 

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LB. KAYE ASSOCIATES LTD. 


GRamncH. cotwEcnair 

2 or 4 am wooded homeutn 
Private, country setting 
Prestigious area conveni e nt to NYC 
Prmripah cortacf owner 201 2652322 
Box 11207 Greenwich, CT 06830 USA 


3 BH3ROOM DUPLEX on NY’s Co* 
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with <fred pair view. Modem eat-in 
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Roots, oriand tie & bras hardwire.' 
S2 mKaCTdk 712-724-2952 USA 


20 MINUTES PEW YORK CITY. 100 
yea aid restored Eiropean done 
country cottage. Very private. 1H 
i roans, beams, stone 
_ to exclusive pan dub. 
Tel: 201 -569-8379: Write: 


ZoEnger. Vtoximtf. 31. 3084 Wo- 
ban. Switzerland. 


PEW YORK APARTMENT owned by 
AntSai canxny. No kbities. Only 


.11 


m best Uodi Pork Avenue. 

No agents. Baaronable price. 
5495.000 or 100% of cnxtoL Box 
2129. Heted Tribune. 92521 Nealy 
Cedex, France 


LONG BUM) GREAT SO. BAY- 50 
min. NYC Speckndar amd/bay 
front BoatsSp, private beach, fire- 
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ny 10166 , Teh m-nvrm. 


M 5TAMFORD COMECTICUT. 
Mognilica it 7-bedroom vria, fori n t- 
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Mr. Oise, London 581-8275/ 5B1 
2813 an /-II, eves B-1Z Bax 40796. 
HT 63 Long icra. London, VVC2 


REAL ESTATE 
TO RENT/SHARE 


GREAT BRITAIN 


CENTRAL LorxfoiLuxayfWied 

flab. American lotchas. £280/ week- 
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m 


aSSll 2>X orOMM 34lffij 


FOR RJRNBHHHflTINQS IN 5. W. 

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Tetec 8955112. 


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Art. Reception room, 1 bedroom. 


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ANSCOfttC 8 MNGLAND wsh of- 

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ISLAND OF 5PEJ5AI. Beautifi4 vffla 

with s w im ming. pool to tent Jum/Jdy. 
Fitly funfohed, deeps 7 people. Far 
information write Bax 2133, Hendd 
Trfcune. 92521 NeuBy Cedex. Fraim 


HOLLAND 


DUTCH HOUSMG CENTRE B.V. 
Deluxe rentals. Vderiusfe. 1 74. 
AmstadaiL 020621234 cr 623222 


PETER BRUM MAKBAARDU I 
Inti Housing Savim Rental! I 
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ITALY 


TO ROT: TUSCANY 


NORTH WASHNGTON STATE bor- 
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area, hurtkia (tshixL Price S18JXXL 
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NuBy Cedex. France. 


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Cefonid. South jaden toper brock- 
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USA 

COMMERCIAL 
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FOR SALE VACANT HOMESTIB. In- 
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MVEST M NORTHEAST USA 

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Cal a Write Robert Nqar 
617-876-2310 
167 Washington St, Norwell, MA 02061 


WEST INDIES 


BARBADOS 3 Acres Beach fro* 5 
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MISS. FARMS FOR SALE - Soyfaeai 
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MS 3874& 


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FABULOUS GARDB4 


MANHATTAN 


Tree ined block - 5 stary elegant wn- 
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INTERNATIONAL REALTY 


980 Madden Avenue. New York, 
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N.Y.C CONDO 


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U Etta 47th a„ NT, NY 10017 
217497-8800 or 
Residence 212-581-0223 


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drerm room, bbrnry. 4 beckooms, 2 
mad s rooms, spoce. teht. Hecne act 
Mrs. Thom pson 712-57&667i 
A Assoc 


76. Lyons 


NYC HIGH CLASS PARK AVE. caop 
m md 60"» Sunny & spenous but 
unmue fly qingl & calm wrth both its 2 

bedrooms foong south or pnvae 

gaden. 2 M bam, windowed Itaeh- 

pmwoUy weekdays am. or tefou 


COTE D'AZUR TWOIE, beautiful lux- 
ury villa, magnificent 1ST sea view. 
Comfortably turridied, 5 bedrooms, 
central hoahna, sepaata stixio with 
atadage. Morthfy rented Sl/00. 
Aug. $2^200. Reduced terms far long 
Tel: Fr ance P31 498 701 


VAR STE MAX1ME Cabta de 
Guerra Voile, 7-person mce, splerxtd 
view sea, 100 sqa. terrace, open 
perdi, barbecue, privcM pod, tenm. 
Fa rart June. Jdy^Sept. Tet morn- 
ings a after 8 pm 825 51 22 Paris 


NORMANDY. GRANVUE + Mont 
5t Michefo, cute beach house, deeps 
6. F7000 per month. July & 

F3000 pa month on one yea 
Cabinet Pbtai (3| 052 92 29 


•W OUR SMALL CHATEAU during 
summer months, center of France, 
modem convenmnces. Cartese de 
Jouffroy Ganssae, 18200 Faroes AB- 
chomps. France. (4R61 04 17 


GREAT BRITAIN 


LUXURY EXECUTIVE APASTMBdT5u 
Knightsbridge/Chahea Ova 100 
fuBy serviasd stuioi, 1 & 2 bedroom 
apartments. Afl modem convenenoes. 
Minimum nay 22 days. Prices from 
£145 per week. Hearn contact Lor- 
Toting, NGH Aportments, Nefl 


Gwyim HoraeJ Sfoaxs Ave, London 
SWl Tot 01-569 1105. Tbt 29581 


7G. 


CENTRAL IOMTON - Executive ser- 
vn*i Dportmerts in now btddnm, 

connoriably furrahnd and frily 

equipped. DaBy maid serwee (Mon 
through FriJ Cdar TV. Phono for bra- 
dtaralpi) 1 342 a write Proxdeti- 

SM.ISffUf 1 ’"*™ - ' 


LONDON NEAR BUCXMGHAMPoJ- 

ocs. Superbly tarnished aid Ctapdrt- 
ed 2-betfroam Rat far short terra or 
holiday rotetd^SOO/weefc mdw&g 
iraraportosion to & from airport ? 
reqwred. Mad service avaiobC Tet 
Mr. Kngfo an 0935 74753 or 0935 
862120. 


EXECUTIVE SUITE MAYMflL Luxu- 

ry hiTwed apartments, newly deco- 
rtttd hAy serviasd secretarid/telw 
fooities, C450/C55Q pa week. " 


rzyaoRLMoi 

London OT 491 2636 


LONDON— MA1DA VAIL Beoustai 

underground. Dou- 

' t btahroom. 
£190 pa 


apartment dose under gm 


week, lata tat ovoloble earty ftey. 
» Uteha London (01) V3 06ffl 


let Mb* 

11 JO am -6 pm. weekdays. 


BBK5M1B HALF HOUR CENTRAL 

landau fadaie country house, 7 bed- 
roorat 5 receptions, ided entwian- 
l-ig. Tentib . swe aring £ 39 00 pa 
niu till > Front June, nvrinxxn 6 monlhs. 

Rufus Raven Mcyfrir 01-629 9896. 


STUNNWG 3-aajROta*. 2 -both flat 

m neeonc Btoomsbury. Begad draw- 


ipg no owu In heat of nyseum. theatre 


AH mad am fod Hes, ovdlable 

mondi August £2000. Tet 636 2555 

London. 


SOUTH KB4SMGTON SW7. Superb 

fl ato ant f a the mo nth at Ju ne with 

raam, good Idsdwa IT® per week. 


Co» Ph®ps Kgy & Lewis on London 
(011 352 8111 


®R A BUTOIOH 1 . A targe selection 
of pctaaties in St. Johns Wood, 


Regents Pork, Swm Cottage, Han> 

" months +. Tel 


stead & environs. 6 . . 

01-586 7561. Tk 883168 ACOG 


HKARY POTTER and p art n er s far 
nats&houHi 


good qudbiy tartxshtd I 


■a rad m central London awn. Spe- 


orirsTS in I 

01-493 2020. ' 


I AID 


AUtNAM APARTMENTS, 99 Nw 

Coventfah Straw. London Wl. Be- 

gad spacious servKBd ■ yurt mw i i s 
with tri amentias. £57 rightly, £380 

weekly- Tet 01-636 2821. Tdl:884130. 


JOHN BSCH hoc 20 yam experience 

m Reads. Long a short tenancies. 

Central & suburban London & Abe*. 


deea Btdi & Co. 01-499-8802. 


LONDON, (for the best tamahed flat, 

aid houses. Catsuit ihe Speaafists: 
PhBpj, Kay aid lewis. Tet Union 

35781 1 1. W 27846 RHDEG. 


Short at tang term, beautiful faro- 
house, hAyrutored & tamahed taost- 
ed obout JO km from Sens & Arezzo 
on ihe Ids nearby Sndutiga. Chianti 
aea, targe Bring with fraftx»,5 bed- 
rooms, 4bari»s, kxne fatchoLll ha of 
land, wooefa. srarii pond COO pa 
per month. July & Au- 
D pa week. Broken ' 
mite Havas N771, 

4 rue des Iris. Monaco 


ROME OUS1ATA, In a typiod Romai 

rib with swenring pod, there are 3 
unique opportaiitiei of ranting ». 
pwbhr furrwhed flaL Flat A 
moldy 6.000 sqJt $1500. FtalBcp- 
pro Mm oSnly Zjai rofr ST JOO. HaC 
(tapmoomady $lj pQ sq.f . $1 
Each flat has 3 bedrooms with at- 
tached bathrooms, bving/dining 


rooms & blchen. Please write to lidy: 
bota 84/D, Otatata, Rome a Phone: 
&3799S57ar 


LAKE MAGGKTRE. TO RB4T beoub- 

W 19lh century rib, 30 mini, from 

Strtsa, 4 ha pat 5 double bed- 

rooms, 1 angle. 3 baths, gauge, 
ynes4tause, terrace overlooking the 
take. USS3JJD0 per rrxxdh, rriiwium 1 
month. Write Aws. Moira. Via Gaita 
2-6556f 


9, Milan, lidy. Tel 2-6556152. 


PORTOFMO VHDtFANTASnC 

view, sleeps II , terraces, pak, oocess 
to tea, cl oonmniances, avriufaie far 


to sea, t» oonvasences, avritabie fa 
rad June, Asia. Seat. Tel 0039-31 51 
16 B9. Or write F5. BOX 488. 6830 
Oxosso, Switreriaxt 


MOAN RJRNBm 4-room, good lo- 

cation. starting July 1 (passible 1 - 4 
month rantaHiCdl 02/4983T28. 


MILAN RJRMSHED APARTMOT to 

fa $900 monthly. London 870 0512 


PARIS AREA FURNISHED 


74 CHAMPS-ELYSH5 8th 


Sfodo, 2 a 3-room oporti u a it . 
One month a more. 

IE CLARDGE 359 67 97. 


FONT M1RABEAU. high doss buUng 

an Seine riva. view an ci Paris, with 

gardai, double Kring 4- bedroom 
with terrace, lacing South hncunoudy 
tamrshad, rryxpped kitchen. Passtait 

ty for 4 people. Tet [B 6 ) 7Q Z7 45. 


SHORT TBM STAY. Advantages of o 

hotel without moonMniencH, feel of 
home in nice studios, one bedroom 

aid more et Prih, SORBJM; 544 39 

40. - 80 rue de njriWsite, Paris 7th. 


PENTHOUSE AVE MONTAIGNE, 
neor Champs Bysess, 120 sqm + 
targe terrace, view on 5«ne, high 
daB fumdure. 723 43 28. 


SHORT RB4TAL ff PAHS: starfcs 
and 2 roams, beaditally de co r ri ed 
Contact Scrirne 6 ave DeJaasse, 
75008 Paris TrikTU 359 99 30 


REAL ESTATE 
TO RENT/SHARE 


USA 


NYC CO-OP SUBLET 5«h Aw nea 


pak, maasa. dtopt farrihed 
bwnxwJ 


u e u i' uam 25“ X 20 with iirtilu4, 

brAaom/tving room with firafteca. 1 


NYC-SOHO. June th r^Auy .^D ujJct 


toft. For mformettan 

rot, 433 Broome St. NY. NY 10013. 

712-925-4606 


SUB LET N.Y. studio, doorman; E. 45 

frae md June 2-4 


St. free md June 2-4 months yearly. 

548 26 55 ffkrb 2 pjn. to nsdrughtj 


REAL ESTATE 
WANTED/EXCHANGE 


LUXURY 3 ROOM COMTOMNUM 

on Florida's Gulf af Mexico in Inury 
star resort (South Seas Plaeafonf. 

weeks avrJable for simter u e ranmo - 
dahon on french Evtora in early Sep- 
tember. B. Harris. 20 Black Alder 
Lone. Watoa CT 06897 ISA. 


AMSBCAN professor & wife seek tar- 


irihed (for. lage frrin^ 2 bedroo m s. 


WANTED SABBATICAL HOUSMG in 

Paris fix 2 adults & 3 children in 
e x c l wnge for cxjt 5 bedroori home 
nea fcSon. JufoOec. 19BS Jon D. 
Setemikf, 210 Soufh Sr Need h am. 
MA 0219i USA 617^49^511 


EXCHANGE targe apartment central 

Pais for houe/cpartnieiit NYC a 

commuter dtanti, nea sec a in 


oouary. 1 5 July to end Aua Tet Pans 

720 59 43 a NY (212) 874 42 59. 


WANTS) 1 bedroom a studta tar- 

irihed oftartment in Paris. 1 yea rent- 

ed. Possible ewdxj tae af NYC a 


- ^ 4 tort- 


Beans July 85. Box 6778, FDR 
Station. NY. NY1 


10150. 


URG84T - ON ASSIGNMENT -Seek 

2 bed upu rtneri May 16-Jone 16 
Furn ished nea porta. Ccfl USA 617- 
482-8938 business hours a 617-522- 
3631 . R5.VP. en ongtais. 


S1H: CHARMING penthouse studta 

u p a lment, hrrwdwt, beams, vriB ex- 
change for some, in Ma nh at o n. Jure 
1st to July 31sl CoS: Pore 325 07 28 


MA. 


M ANCH ESTBt -gY-TFff- gJ^ 
Aportnoit to tuuuioo wiStl _ _ 

Pariv July. Box 2130,rforetd Triune, 
92521 NeuBy Gedex, France 


PARIS - SEEKS TO RENT studio, or 
room furnished June - August whA 
421 64 1615 


atoning school G* (42) 64 J615_ 


EMPLOYMENT 


GENERAL POSmONS 
AVAILABLE 


SALES - GERMANY 
We ae a mqa Amerieai cor p o ration . 
Our products ae mraumer itentL Due 
to ■■parion, we as taoldng fa onatta 
« person to cover our iXS mStay 
accounts. The potition is based in south- 
ern Germany, We offer a very com- 
petrivo sriexy, cast c4 kvtag allowance, 
profit shraing, company car & other 
eriaierebrawfik 


We ae looking for someone with preri- 
ous sries espenence S o busness-relal- 
ed coOege-de^ee b desired but not es- 
sentied. Due ta the nature of Iha 
position, oppkonts should bear an 
Amaierai passport & be presently re- 
ading in Germany. 


PlesMxndyourresumelndudingsrio- 
ry haory & a photoaarh of yourself 
ta Box 2139. LKCfVtatachdr. 15. 
DiOM Frankfurt7Moin. 


OFHOAl COURT 
ten Welsh Cherer Ltd. 

Houm, Eat Honing Sheet, London. 
Engtand. EC4A 3AS, require twofufiy 
guoified cowl reporters using Ihe 
Stenograph system. 220 words per 
rnnute ce if ifiaJ B. oan^Jete fixrnar- 
ity with Enddh language, A levri GCE 
a equriraleni. aid experienced in 
edging text; typing speed of 70 words 
per narue; must be fu#y capable af 
[ring computer -rided tiueuiptiu n 


gtawn. Knowledge of legal prooe- 


an advaitage. Income from 
Fees about EIOJDD per annum. Apply 




iting to A G Newman a May 

WhII 


iCV. 


IF YOU CAN SHI 
YOU ARE OUR MAN (WOMAN) 

Earn good money vrifa meeting inter- 
ering people. Wade in yoa home aea 


oourtnr you Be. 
Suedalfae2, 


KtS-l J . 
D-6642 Mettladi 3. 
Phone Gerraaiy (0) 6868/517. 
Tbt 445242 MS D. 


Bnarawai SUMMBl wfalet. cosy 
2 betfroom apartment, al equipped, 
ara&tale 6 m thro 7/3I J® 
month. Tet 575 27 21 


NEAR BEAU80URG. 16th century 
ExAfing. rice 55 jam. sfucia 6 ta 9 
' 548 0197 / 277 B075 


months. F5000. ! 


T47H. American art consuttont's own 

private atefier. gadev 

1 Best offer. fe£542 49 U 


7TH NEAR ST.GEUAAmi eiegait qut- 
a »no4 ■ " 

pface. Ti 




SHORT TERM m Latin Quarter. 
No ogenix. Tel 329 38 B3. 


LATM QUARTER, 2 roam, bath, Icitch- 

en. hea. phone. Tet 3S4 65 69 


ST LOUS Bi PHE both, latch- 


en. F2900 net. 720 94 ! 


PARIS AREA UNFURNISHED 


VUENNB wr SENE (78) 
AVARAfltE NOW, 

BEAUnfUL ESTATE 
Exception ^ view , large Sving, 4 bed- 
roonift, 3 baHroono, Terrooo, outbuid’ 




Possibility comtot- 
s house. Tet PI 975 80 0L 


NEWLLY ST JAMES 


d LAWkAFiO, ti *»ni 

justified key money. 


SARC H1FS . 3 bedroom, utifoes indud- 

L F5500 urtimiahed; F7500 Fa- 
d Pbris 9902478 US 4QLQ24434 


SPAIN 


IBIZA 


HRIIDf FtNCA, fantastic tec view, 
veebdad kration nw beodi, TO rant 
Golf Roco Liaa^5 men Puerto Ibim, 5 


betfosotm, 4 ttaths, bg pool, tfeoriig 


woman. Rea from now ta Oa 
1100 vmably, minimum 3 weeks.’ CoR 
Fkre 256 (&5 a Box 2064, Horrid 
Tribune, 92521 NewEr Cede*, France. 
Ewenfucfiy for sole. 


MAJORCA NORTTCAST. furnished 

17Ih centwyrane house, FuRy 

equipped,, ^dens, terraces, gwst 

house, 4 bedrooms, 3 baths, swm- 
mmg pool, maintain views 12 min- 
utes from tea. Avertable July. $1800. 
Tri: McGlue 27B 29 36 Paris. 44 rue du 
Ra de Sale. 75004 (fans 


SWITZERLAND 


SWITZERLAND 

VILLARS 


Oily 75 mins from Geneva Airport 
stt - Imh ■ golf and sui 


MAGNIFICOT CHALET 
FOR ROT 


vmh wonderful view over ihe Alps 
pnwetis park of 15JD00 sqm. 
«ry hfiMMUS: 12 bedrooms 
3 reception roams, 6 baths 


1 north- US$ 20,000 + charges 
special rate fa a longer penods 


Far fafa n u t ifton 

P-O. Bax a 
04-1884 VRbre 
Tel; 25/35 35 31 
Trie* 456 213 GESE 


WBUC RELATIONS 


Head new Europo office for maja U5. 
m firm. HeaJquater in London a Pa- 
is. Please state experience, salary re- 
quirement, date of ovaSabSty. Bon 

2129, Herald Tribune, 92521 Ne 
Cedex, Fraiee 


MTERBT1NG POSITION m Concorde 
- Faubourg St Honare area for exclu- 
sive gift stare. Appfioant mud have 
native EngSsh, good French & sofid 


background in moriceting / buying 
ml sdory 


■nwrrandbo. Initial annual 


FI 12971. Redy to Box 2067, Herald 

Tribune, 92571 New" ' ' “ 


uiHy Cedex, France 


INGUSH OR JAPANESE SPEAUNG 

salesgirl wrated. Tet 7703106, 
prefardUy visit us in person at kxich- 
liffle, PARRJMB 8 E, 3. rue du Hekfa, 
Pais 9. Metro Opao. 


M USI OANS. Oori oi iia li u iu entary ft 

ringers i n teres te d in Pail summer 
froSc. Se nd res ume ho Box W. 6 me de 
Tcxjrnon. 75006 Paris 


GENERAL 

POSITIONS WANTED 


GREEK OB, 53, experienced, very 

good references, seeks job with 
private residence a embassy. Write: 
Panayotis IhealaghifiL 1 Sajora de 
Boondoel, 1050 Brussels, Be£um. Tet 
322/235 6815 


YOUNG GERMAN Fashion model, 
Nghly educated, looks lor an mteresl- 
tag position. London 2454X80. 


DECK OFHCBl, 25, avaSoble. Quot- 

fied, reliable Morttu Kci te na, Vri- 
lorxitie 19, 08700 Vrtby, Ftatand. 


SECRETARIAL 
POSITIONS AVAILABLE 


MINDW SEBC5 for AMBBCAN 

minttxvt pkahs ^ PMIS . 

Engfoh, Belgian. Dutch a Goman 
setretanes, knowtedge of French re- 
W'ed. EngEsh thorfc ai id BSncual 
tetaxrtfv Write a cfone: 138 Avenue 
^toor Hugo. 75116 Paris, France. Tet 
727 61 


Don 't mite 
INTERNATIONAL 
SECRETARIAL POSITIONS 

TUESDAYS 

in Ihe MT Oaedfied SecRen. 


EDUCATIONAL 
POSITIONS AVAILABLE 


AMBjlCAN SCHOOL M SURRY 

teacnecs tor Amenoan ajrricu- 
kxn. Grades IC-ll Teachers needed 
for sevens dadplnes indudeu Rbrori- 
anhip, foday/Spaibh, anaenr and 
V*r Kon ™*»Y. mathemriia/pfiy- 
w Inter tried cand x iusa please sand 
resume c/o TASfS England. Cridhrx- 


ray. 


DOMESTIC 
POSITIONS WANTED 


ALWAYS AVAILABLE - AU . . 

children’s nany. mum's 
branches af 1 st das Gve-«n daneshc 
help worjdwide. Cril Staane Bureau, 


London 73D B122/5142 04 Ixxvd it- 
Tk: B95067&Q4FEG. 


CEMPAGY. 


BUTTER VALET OB / Hauseteepa 

axipla 18 yean eraerienee m Up 

households very retabta pmfo su un- 
d couple, free now. Fry Staff Consui- 
tata7 Htah SfAidershat, Honrs UK. 
Tel, 0252 31 53^9. LB< Damoed. 


MATURE WEU. HTUCATH) It^i ta 
realty couple weh ta caretate res- 
denoe from September. South France, 


ALWAYS AVAOABLE LONDON only 

babynmden & 1 st dan A j9y mads. 
Staane Bireau, London 730 8122 / 
5142. Liaenced enytoyment agency 


employment 


DOMESTIC 
POSITIONS WANTED 


EATON BUREAU NANME5 - & cS 
crafesttand domestics available now. 
London 730 9566. 136 Stoone St, SWl 
Licwxgd LHC Emptaymeni Apency. 


BHGU5H NANNIES & Mother's Helps 
free now. Nodi Agency. 53 Owch 
Rood. How. UK. TA BH731 29044/5 


AUTO RENTALS 


CHAFtC RH4T A CAR. Prestige ocn 
wrti phone: Balk Sprat. Merc ed es. 
Jaguar, BMW, Emousnes. smefl cars. 
46 r pforre Chen- on, 75008 Pans. Tet 
7203Q40. Telex 630797 F CHAROC 


AUTO SHIPPING 


HOWTO IMPORT A EUROPEAN 
CAR INTO THE U3JL 
TFn document expirirs fu 8 y whit one 
must da to bring □ cor mra the US. 
safely and legoty- 8 mdudes new & 
wed European auta prices, buying ten, 
DOT & 0*A conversion adefressa. cus- 
tom demons & sh ^jp aG procedures 
as «vel ta Ugoi pans. Because of de 
strong dafla, you con save up ta 
USSIBiXXlwhen buying oMeradns, or 
BMW n Europe & mportmg it ta the 
Statev Ta receive the mcnxri. send 
USSiaJOfadd U5S1 50 for postage) to: 

PJ. Sdtaxdi, ftefodi313T 
7000 SuitgaT I, Wot Germany 


FRAMORffDr/MARf-W. 
bermami Gmbft Tet .. 

Picfc-up oB over Europe *ro/nMfaps. 


TRAN5CAR 20 rue Le Sueur. 75116 
Paris. Tet 500 03 04. Ntae: 83 9533- 
Antwent 233 99 85. Cannes 39 43 44 


AUTO CONVERSION 


EMISSION 

ENGMEERING 


MOOmCATlON OF NEW MODa 
Cars « good rukms 
COMXTTON. MOST: 


MERCH3E5 
BMW 
PORSCHE 
JAGUAR 
FERRARI 308 
TESTA ROSSA 


H000 

$4,000 

$4,000 

$4>500 

$5,500 

$ 6,000 


ONE OF THE LARGE5T CENTERS 
AU WORK COMRETS} AT Olfft 
SHOP 

FWEST QUALITY OOMFONDflS 
AU TESTING IN OUR OWN 

FB3EKALLY RECOGNIZED 
LABORATORY 

CUSTOMS BROKBUGE AND 
BONOMG AVARABUE 


(714) 898-2182 

TLX 7043S6 FBtAB COM UD 


AUTOS TAX FREE 


BUY YOUR NEXT CAR 
TAX FREE AND USE OUR 
BUY-BACK PROGRAM 

AND SAVE 


WRITE FOR HEE CATALOG OR 
FREE BUY-BAOC FOLDER TO: 
5MPSDE B.V, P.O. Bax 7568, 1118 ZH 


Amsterdan Airport, The Netheriaxfa. 
MlSfe. Tetax, 12568 


Phone (020)15 


5H1PSR3E lnc_ 576 Fifth Avenue. 

wYortaMY. 10036. LBA. 


7th Floor. New York. N.Y. 10036. 
Phone (i\7l 869444. Telex: 4Z7965 


5H1FSRTE LA. Ooussee de Wowe 
465, 1040 Brussels, Belgium. 
Phone- (02)6499062rtefcta63290 


ATTENTION CAR SELLERS 


Seekaig a reiaUe source for fe acqui- 
sition of a new & used European an to 
be^n/ expand ycur butewsT We cm 
provide peaonofized services faired 
to your neecb lor purdusng and step- 
ping new and tap quafrtyuted Europe- 
an an rt axitartithte priors 
mete, models & years. 

CAfbutfion 


249, Bp uituiu twrag 
3956 CN Leersum/ The Nemerkuid 
Tet (311 3434 - 54205 
Tie 40064 cart nl 
IHE BBT OEMS ON I9HFHT 


PORSCHE. BMW, EXOTIC CAR! 

FROM STOCK 


for IMM&HArt defiwery 
BE5TSBWKE 

Fa sfatppmg, mrarana^wad, 


Hanoi Appears Divided 
Over Approach to U.S, 


RUIEINC 


Tounusstr. 52. 6000 Frankfurt. 

W Gam., tel (in 69-232351, fo 41^5» 
information omy by phoae a telex. 


10 YEARS 

We Deliver Cos to Ihe World 


TRANSCO 


Keeping o amstati stock of raone thai 
300 brand new oars, 
mriring 5000 happy cSertl every yea. 
Send For Free nuifacotarcxiMog. 


T ron sm SA, 95 Noordetaoo. 
2030 Antwap, Brimom 
Tel 323/542 62 4ft TRANS e 


tet 


TAX F*ff CARS: , .. 

Rbyoe, Audi Volvo, Poadw, 

We keep a tars® stock of brand new 


art good ued core. We do the 

X OK 


D.O.1 


. aid EFA on oa own pro 
imes. We riso take core of the dip 


in U5A Contort us 
a iheM naribers- taL M 
050/715071, taL USA 301/633®!!. 

*c Bdgom 82209 EUROMJ B, lb 

USAW956B9 via US. NV Ewa Ao- 
to s taton notional, Korwipin Astridtaan 
47, 9990 " 


GERMAN CARS 
FROM GERMANY 


Experienced car trader tor Mxrcxd ei . 
Poncho a BMW. Immedtote dnSvery. 
Rd service enjort/expart US. DOT 
EPA for tourta exto dectar. OCM, Tr 


ny- tet 


r. 8 . 4 DuesseUorf. W. Germa - 
711-434646 Mn 8587374. 


EIROPORT TAX 
FREE CARS 

Ccd a write for free otirt oo. 
Boot 12011 

Rot ter d a n AnorLHoBaxd 

Td- Pf 10 623077 
Tele* 25071 EPCAR NL 


EWOPE A USA SPECS. 

Al m«te ter worldwide deEv ery frorr 
ttadt. Send tor □ TAXrNSE ooktiog. 

BMW - ROCEDES - PORSCHE 
VW - SAAB - VOLVO - PHJGEOT 


euSOPE AUTO BROKBB 
FOB 214, 3430 AR Nteuwegein Holata 
Tel: m 3402-41346. The 7MB EAS Ft 


TAX nSE AUTO SALES . 
Order your Eaopean - US - and UK 
aatomobfeft. 

Car rentiri, urttariterf mtaogc. 
eaana new ca 1 ta 6 months. 
Telex 2QQ572. Tet 651 4342. 
PteNxre, 2 Ave Pale de Saint Oond 
Ms 7S016y 


TAX FREE CARS 
P-CT. 

AH toctin. cd models, brand new 
ttokefa, 147, 201 B Anrwnro Be toiun n 

ret 3 /in oo, n» 355 * 6 wcffir e 

Send USS5 fa catalog 


WE HAVE 

sale of 


in the tax free 

RHD new & used Mer- 

, j, BMW. Jagua 6 Rote 

Boyce on .for the pos t 8 years. AH 
donmwntaion, dxppmg tfc. uuumlr 
1 6 e ffiu e a ty carwd out by experts 
tranodtans our spadoiky. Take 


15s' 


advantage of our experience, phone 

Hughes Mater Canpany in Bourne. 
mouth, England: (0) 202 744643 


TRANSMUNDI BELGIUM. 21 Gotta 


sefaoan, B-2241 Zdend, Antwerp. Tta 

03-384.11 “ 


. 10S4 Tb 32305 Trasm B. k 
stack: Mercedes. BMW. ASO 


By Barbara Crosscrte 
Sew York Tima Strritt 
HO CHI MINH CITY — Ten 
years afier the fall of ihe Un- 
backed government of Sooth Viet- 
nam, Hanoi's leadership appears 
divided over how to impr ove rela- 
tions with Washington and wheth- 
er the moment is tight to make the 
effort. 

Le Due Tbo, the 74-year-oW Po- 
litburo member who is thought to 
be the most likely su c cessor to the 
Communist Party secretary-gener- 
al. Le Doan, took a sharply critical 
line toward Washington during a 
news conference Wednesday. 

Criticizing the United States for 
imposing conditions on the se ttin g 
up of diplomatic relations and for 
refusing to allow more cultural and 
scientific exchanges, Mr. Tho said: 
“I can see no possibility erf ncmnal- 
ization in the imnwHiaro future.” 

His statements followed com- 
ments in an interview last week in 
Hanoi with Renters in winch Mr. 
Tho seemed to rule out once and 
for all the release of prisoners from 
Vietnamese re-educathm camps for 
resettlement in the United States. 
He said there were 10^)00 such 
prisoners. Government spokesmen 
here have been giving a figure of 
7,000. 

Le Mai, the44-year-oH assistant 
minister for foreign affairs who of- 
ten acts as spokesman far Foreign 
Minister Ngcyen Co Thflcb, Look a 
more conciliatory line toward 
Washington in a meeting here Sun- 
day with five Western reporters. 

“Contacts between us are more 
frequent," he said. “We have a bet- 
ter exchange of views and have 
achieved some kind of menial un- 
derstanding." 

Both Mr. Tho and Mr. Mai said 
the time was right for talks on 
Cambodia. Mr. Mai said be 
thought the majority of interested 
nations now agreed on the outlines 
of a political solution and that a 
way had to be found to open dis- 
cussions on bow to bring it about. 
Both he and Mr. Tho repeated the 
Vietnamese belief that if there were 
no talks, the situation would solve 
itself militarily with no political 
concessions. 

At Wednesday’s news confer- 
ence, Mr. Tho criticized Henry A. 
Kissinger, the former U.S. secre- 
tary of state with whom the Viet- 
namese leader negotiated the 1973 
Paris peace agreement that led to 
the withdrawal of American troops 
from South Vietnam. Both men 
were later jointly awarded the No- 
bel Peace Prize. 

Mr. Tbo said that if news reports 
he had heard were correct, Mr. Kis- 
singer was guilty of “gross slan- 
ders" about the numbers of politi- 
cal prisoners in Vietnam or the size 


of casualty figures following Ha- 
noi's conquest of South Vietnam. 

“Because he smarted under the 
blow of defeat." Mr. Tho said of 
Mr. Kissinger, “he is now showing 
frimsgif as rather aggressive. He is 
trying to evade the facts.” 

Mr. Tbo called on the United 
States to allow more people-to-peo- 
plc exchanges with Vietnam. 

“Over 100 Americans a year are 
allowed into Vietnam — military, 
diplomatic, congressional scientif- 
ic/' he said. 

From Mr. Mai's perspective, ex- 
changes with American delegations 
have nave been fruitful and promis- 


ing-. 


Mr. Mai spent four years on the 
Vietnamese negotiating team in 
Paris and has been involved in set- 
ting up the Orderly Departure Pro- 
gram, which allows Vietnamese to 
emigrate legally to the United 
States. He also has been involved in 
regular discussions on Americans 
missing in action since the Vietnam 
War. 

Meetings on the issue have re- 
cently been increased from four to 
six a year. Hanoi announced last 
month that the first joint U^.- Viet- 
namese inspection of a wartime 
crash site would lake place in June. 



THE ARMY’S NEW CLOTHES — A Chinese soldier 
got a hand with Us cap, part of a new uniform for the 
People’s Liberation Array. The uniform also includes 
braids, epaulets and shining m signfr on the collar tabs. 


Women Refugees Seen as Vulnerable 


By Clifford D. May 

Sew York Tima Service 

GENEVA — Refugee women 
suffer all the familiar problems of 
life in exile: a sense of isolation, 
poweriessness and loss of status. 
But a growing number of relief 
workers, physicians and psycholo- 
gists say that women who have left 
their homelands bear extra burdens 
as wdL 

“Wqmoi are the most vulnerable 
refugv^ir said Monique Bauer- La- 
gier, a Swiss doctor and politician 
who led a discussion on the topic 
organized by the UN High Com- 
tmsskmer far Refugees in Geneva 
on Friday. And, she added, “few 
measures are taken to respond to 
their specific needs." 

The UN agency estimates that 
there now are more than 10 million 
refugees in Africa, Aria, Central 
America and elsewhere and that 
most of them — in some countries 
an overwhelming majority — are 
women. 

Dr. Bauer- Lagier and the other 
17 members of the forum stressed 
that women are chiefly responsible 
for presaying cultural and reli- 
gious traditi ons and for maintain- 
ing a semblance of normal life in 
refugee settlements. It is women, 
they said, who keep the family to- 
gether, see to its wefl-bring, edu- 


cate the children and often cany 
out most of the household and agri- 
cultural tasks. 

Yet in many refugee camps, said 
Jeane J. Kirkpatrick, former UJS. 
representative at the. United Na- 
tions. “women are not fully valid, 
they do not have the right to repre- 
sent themselves vis-A-vis the au- 
thorities. for example, even to reg- 
ister to receive rations by right-’' 

Refugee women, particularly 
those who ore pregnant or have 
young children, face special nutri- 
tional and health problems that of- 
ten are not meLpanicipants said. 
In one camp in Thailand, said An- 
gela Beny, a nutritionist with the 
agency, three-quarters of the chil- 
dren of refugees have died in the 
Iasi four years. 

Refugee women also may want, 
but are not provided with or al- 
lowed access to. contraceptives and 
other family planning aids. 

And because illiteracy is much 
higher among refugee women than 
among men, it is more difficult for 
women to acquire the skills neces- 
sary for survival and self-sufficien- 
cy in foreign societies. As a result 
some turn to prostitution and other 
illegal activities. Sexual discrimina- 
tion, harassment and violence 
against refugee women is distress- 
ingly common, speakers said. 


Women also are likely to bare 
more difficulty than men in finding 
nations that will gram them asy- 
lum. “A lot of countries," Mrs. 
Kirkpatrick said, “are willing to 
take able-bodied males who are 
about to be breadwinners but are 
not willing to take a woman who 
they think is going to be a depen- 
dent." 

Others at the meeting noted that 
women are often not involved in. 
and even unaware of. the reasons 
that they are in exile. 

A disagreement that in Mrs. 
Kirkpatrick's words “remained la- 
tent throughout the discussion" 
concerned the factors that push 
people into exile. Several partici- 
pants dted “neo-cdoniafism” and 
(he inequality of wealth between 
the industrialized nations and the 
developing world as hrgdy to 
blame. 




Bri 

To Hi 


. I > 


¥ 


Maureen Reagan, a women's 
rights activist, a Republican Party 
consultant and the daughter of 
President Ronald Reagan, placed 
the onus elsewhere. 

“When we see the suffering of 
women and children refugees in the 
world today," she said, “we must 
deplore the actions of governments 
which force people from their 
homes in search of freedom." 


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il Under Official Pressure, France’s Press Now Bridles 


HAIRD ASTORN —Two members of die Greenpe&c 
bosun’s dt^rs afladied to anchors of tbe tanker Wat 
Wwfoestfay, Greenpeace failed to prevent die ship 


leaving port with what the 


By James M. Markham 

• Nee York Tima Service ~ 

BONN — ^Tbec^eDdarsaysitis 
sprin^ but it doesnot fed that .Way 
in tins chilly, wet capital, a place 
where the seasons bhir. 

“Sometimes the fog is a little 
colder, thdrwe call it winter” says 
a character in . “A Small Town m 

REPORTERS NOTEBOC« 

Germany” ihe iiovd by John Le 
Carrfe. “Sometimes it’s warmer, 

and t)mf *$ BmwnW * It jcriinrfa gy r 

statement on the West German 
capitaL 

Wednesday' afternoon; a. stiff 
wind off tbe Rhine snapped the 
flags of the seven nations repre- 
sented at the economic conference 
that will open Thursday; & leaden, 
sky lowered over themooredentise 
boats on which some of the 3,500 
journalists who have descended on 
the city are packed in elegance. 

O':. 

May 1 was a holiday, so Bemd 
Kraus, vd» runs a restaurant above 
the offices of the Bonn Rowing 
Association, should have expected 
a brisk trade Wednesday. “But far 
me it's had,” Mr. Kraus said, sur- 
veying the families and the Incy- 
dists moving scdatcfralpngthcrivi 
er promenade, ^because my 
customers an; afraid they will be 
cutoff by aH the police." 


The offices of the Bonn Rowing. 
Assbdatiim, founded in 1882, abut 
the Low-slaiig, modernistic- chan- 
cery complex where the leaders of 
the major non -Communist nations 
w31 confer. So Mr. Kraus knew a 
lot about the green-uniformed po- 
lice officers with walkie-talkies 
mOting by tbe river. 

The restaurateur, who counts 
Giancdlor Hrimut Kohl among 
his regular customers, prononneed 
tbe atmosptoe on the eve of the 
meeting as “expectant." 

□ 

Bonn c^Gdals are being coy 
about the number of poBce officers 
deployed in the dty, but it seems to 
be about 15,000, or one representa- 
tive of bw and order for every 20 
inhabitants. Joachim Zhnmer- 
mann, the police diredtor, admitted 
it is “one of the laggest security 
operations ever seen m Bonn.” 

. Aside from putting a lot of police 
officers bn me ground, Mr. Zim- 
mermann has banned private 
planes.fram flying over the capital 
and had all the manhole covers 
dhecked to ensure they remained 
bttited. . 

. In an attempt at humor, a West 
G erman official involved in securi- 
ty procedures said the police's defi- 
cate role M somewhere between 
“that of James Bond and Brigitte 
Bardot” - 

. □ 

At noon. Wednesday, some 


James Bond types found and de- 
fused a 13-pound (5^ kilogram) 
bomb planted in a blue briefcase 
on the terrace rif the German. Aero- 
space and Anns Industry Assoday 
turn on Konstantmstrasse, a cen- 
tral artery in the residential 


houses — - the adjacrat Bolivian 
Embassy was dosed for May Day 
— before a fire department bomb 
squad defused the device. 

Police said the bomb, which was 
discovered by a secretary, was pos- 
sibly the wen of the steadied Red 
Army .Faction, which on Feb. 1 
murdered an anns company-execu- 
tive in Munich in what it has de- 
picted as a “Western European 
guerrilla campaign" against NATO 
and its weapons suppliers. 

Three bombs went off Monday 
-in DQssddorf and Cologne, and a 
shadowy group that styles itself the 
Revolutionary Cells took responsi- 
bility. The group said it was pro- 
testing the economic meeting. 

D 

• The arrival Wednesday morning 
of tbe traveling White House and 
its attendant, iet-lagged press corps 
ooiadded with what seemed to bea 
determined administration attempt 
to focus on a new issue and remove 
attention from President Ronald 
Reagan's much-criticized plan to 
visit a German nrifitary cemetery at 
Bitburg on Sunday. 


Britain Increases Military Budget by 3% 



Midnei Headline 


: IJnUtdPrc&bMmaieRaJ 

' LONDON — . Britain has an- 
nounced a 1985-86 military budget 
of more than £18 bflBon ($22.01 
baHonX a 3-pczcent increase over 
4ast year, and said that 95 percent 
of its forces are committed to tbe 
Western affiance. 

Defense Secretary Michael He- 
sdtinesmd Wednesday that Britain 
saw no “credtNereastar to change 
NATO’s present strategy of fton- 
bfc response “that has served ns so 
weU in keeping Europe at peace." 

“The case for continuity and 
buSdmg on tins success is over- 
vdiehmng,” he said, adding that 
“fee vast majority Of our forces and 
some 95 percent of our defense 
budget are committed directly or 
indirecdf to NATO. 

Mr. Headline reiterated Brit- 
ain’s support far research on Frcsi- 


Bomb Blasts Cause Damage , 
No Injuries in Spanish Cities 


Tbt AxnxhBed Prat 
BENIDORM. Spain — Four 
bombs exploded m fee Mediterra- 
nean resort tides of Benidorm and 
Valencia and in the Basque towns 
of Uodio and Bilbao in nmthern 

ri^fee^^a^y/^ursday.”^ 
The authorities suspected that 
the overnight bombings at Breo- 
dorm, Vafcnda and uodio were 
the work of tbe Basque separatist 
csganmttibn ETA (Basque Hcane- 

land and LibertyX 1 

The most powerful explosion 
was that of a car-bomb in front of a 
civil guard barracks in Uodio, in 
the paroviaa of Alava, eariy Thors* 
da>’. The police said that the taoarib 
substantialfy damaged nearby 
buildings anti parked vehicles and 
destroyed a parked bus. ' 

Last week ETA announced that 
it would launch a terror campaign 
against centers: of . tourism on 
Spam’s Mediterranean coast aimed 
at “making the Spanish govern-; 
stent change iis mind” about 


ETA seeks independence for fee . 
U million inhabitants Of the three 
provinces of. the Basque counuy. 
The Mast in Biftacv in fee pn?v- 


inct of Vncaya, occurred Thursday 
morning outside fee offices of a 
subadiary of an American compa- 
ny, the police sad. They said mat 
the bmnb was not powerful and 
caused slight damage to the offices 
of Abrasives Norton. 

- The police said the Bdbao bomb- 
ing! could be fee work of a group 
identified as Irauhza — ; a Basque 
-wood meaning devolution." Toe 
group is thought to be reroonsiUe 
for previous bombings of Ameri- 
can businesses mid companies as - 1 
sociated wife the Unitea States in | 
the Bomaie country. '■ 

On wedneafeiy night a bomb 
placed under ajpaha tree in Bmi- 
dorm in a gawk** outside 

a cafo,.bitt only, the tree was dam- 
aged. ... 

Shortly afterward m Valcncia, 60 
miks (97 kDraict03)nOTth of Beni- 
dorm, a small bomb exploded on 
beach near a hotel, causing oo 
damage. 

'■ The powerful bomb at Uodio 
waiphmtedmacarrqxartedstoten 
in a nearby town on Wednesday 
afternoon, fee police arid. The 
blast buried parts of the car over a 
raditri of 200 yfeds (182 meters), 
feeyaflded 



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By Joseph JHrchctt 

TnHermlitmu Herald Tribune 

PARIS — When Fiance’s Social- 
ists chanted “vkJoiy" four years 
ago in the Place de la Bastille, their 
cheers for President Francois Mir- 
terrand alternated with screams for 
fee dismissal of newscasters on 
state-run television who had been 
accused of subservience to fee pre- 
vious government 

French journalists still talk 
about “the Bastille Syndrome," fee 
accusations erf bias against col- 
leagues who were too prominent on 
television in a period of political 
confrontation. 

Four years ago, many television 
and radio journalists lost their jobs. 
It was an indication that, despite 
campaign pledges to the contrary, 
the Socialists intended to continue 
fee French tradition of government 

interference in fee media. 

Now, with national elections doe 
next year, political clouds are gath- 
ering affirn oyer fee press. 

This week, for example, Mr. Mit- 
terrand, who had been shumring 
press txmfereaces, has scheduled 
two Jong appearances on fee state- 


run television. Both appeared lobe 
tailored to flatter fee presidential 

im agf 

On Sunday. Mr. Mitterrand lent 
himself to a slick, folksy, 90-minute 
interview interspersed wife ex- 
cerpts from popular movies and 
videos of American rock stars ap- 
pealing for help for Africa's famine 
victims. At some pointy the pro- 
gram captured half the viewing au- 
dience, . a record for a political 
broadcast in France. 

On Friday, another channel is 
scheduled to show a portrait of fee 
man in the presidency. 

Amid fee gathering political 
pressure before next year’s legisla- 
tive elections, which polls say the 
Socialists may lorn. French journal- 
ists are trying to protect their repu- 
tations and their professional fu- 
ture beyond the elections. 

Lately, resignation has been a 
favored technique. At Le Matin, 
which supports the government, 
more than half the 80 top editors, 
reporters and columnists have re- 
signed over fee past week to protest 

the appointment of a former presi- 


dential spokesman. Max Gallo, as 
editor in chief . 

In late March, France’s karting 
television journalist, Christine 
Ockrent, quit her job as anchor- 
woman at An tenne 2, one of fee 
siatc-crwned netwesks. She and two 
other senior news executives left 
amid fears that fee network 
planned less objective news cover- 
age under a new government-ap- 
pointed bass. 

The upheaval revealed new ten- 
sions in France's perennially un- 
easy relationship between press 
and presidency. 

French leaders have frequently 
relied on authority rather than skill 
to manipulate the media. Televi- 
sion, for example, came to France a 
dftffftrfff laier than in many other 
West European countries, and it is 
still a government monopoly. 

But fee imminent arrival of pri- 
vate commercial television is into 
sifying demands tar journalistic in- 
dependence. Today, “the media 

Drill no longer simply do fee ruler’s 
bidding," said Alam DuhameL a 
political commentator who has just 
written a book on French political 


°g 


TheUj}. press headquarters is in 
a restaurant called the Tulpenfdd, 
a name derived from tulips sprout- 
ing in a prim quadrangle where 

fee Bund^tag^or 5 legislator, have 
their offices. In a crowded back- 
nxan at Tblnenfdd, Larry Speakes, 
the White Bouse spokesman, man- 
gled fee pronunciation of the 
names of fee German leaders who 
are the president's hosts, then 
moved on to announce a trade em- 


**You want to get a couple of 
questions on camera?" Mr. Speakes 
asked television reporters, appar- 
ently content to talk at length 
about the Nicaragua issue. He 
spe^e of an “urgent threat" emerg- 
ing in Nicaragua, one that made it 


imperative to announce the trade 
ban in Bonn, not sooner, not later. 

When a television reporter 
asked about Mr. Reagan’s visit to 
Bitburg, Mr. Speakes answered tes- 
tily, “We have non-Bitburg ques- 
tions, believe it or not.” 

□ 

Wednesday morning a satire on 
West German television, entitled. 
“May Revue, " would not let go of 
the Bitburg imbroglio. The pro- 
gram host, Bans-Jfirgen Rosea- 
bauer, conducted mock telephone 
•interviews wife a super-earoest- 
sounding Mr. Reagan and a bum- 
bling, vowel-gulping Mr. Kohl, 
who were played by two quite ef- 
fective mimics. 

In English, the Active Mr. Rea- 


gan said be would visit both .the site 
of the Bexgen-Belsen concentration 
camp and fee Bitburg cemetery. 
“You see, I don’t want to hurt any- 
body’s feelings," said the presiden- 
tial voice, “so in a helicopter l will 
not land but hover over both loca- 
tions and then, since total reconcili- 
ation between our peoples is the 
purpose of my visit here, I win fly 
on' to Berlin, West Berlin, and fly 
over Spandau prison and greet Ru- 
dolf Hess." 

Mr. Hess, once deputy leader of 
the Nazi party, just turned 91; be is 
fee only inmate left in Spandau. 

The program led to angry calls 
from viewers. Jflrgen Sudhoff, a 
spokesman for fee government, de- 
nounced fee show as “an unparal- 
leled smear." 


habits, le Compkxe tfAstaix, or 
The Asterix. Complex. 

Politicians, he said, will have to 
become more adroit in political 
communication. For example, fee 
Socialists, in their first year in of- 
fice, used their power over French 
television to go on fee sir frequent- 
ly. The result, Mr. Duhamel said, 
was overexposure, which hurt the 
Socialists’ popularity ratings. 

A similar approach was used in- 
stitutionally. An oversight body 
called the High Authority was set 
up to guarantee broadcasters’ inde- 
pendence. and Pierre Desgraupes, a 
respected professional was named 
to head Antoine Z one of France’s 
three government-run networks. 

But as that channel developed a 
reputation for objectivity, he was 
prematurely retired late Iasi year. 

His job went to Jean-Oaude He- 
berli. a respected television jour- 
nalist who happened to be close to 
Mr. Mitterrand. When he arrived 
at Antoine 2, he made it dear that 
the network was expected to report 
more good news. Trains that ar- 
rive on time are news, too,” Miss 
Ockrent quoted him as saying. 

Miss Ockrent's resignation, 
when she was extremely popular, 
left her in a strong negotiating posi- 
tion for a television comeback. 

A soft landing was also available 
for tbe journalists who resigned 
from Le Matin, since French law 
enables journalists to quit wife 
handsome severance payments and 
unemployment benefits when a 
new editor is appmnted. 

The painful part, said Vincent 
Lalu, fee political editor, is that 
“we spent three years trying to de- 
vdop Le Matin's credibility, and 
the government, instead of under- 
standing, stepped in to destroy it/' 

The new editor in chief, Mr. 
Gallo, is a best-selling novelist and 
former magazine columnist who 
was elected to the National Assem- 
bly. Then he became spokesman 
for fee government, a job he left 
last year. 

Pressure from fee president’s of- 
fice ensured that he was named to 
fee top job at Le Matin, according 


to reports in Le Monde and other 
newspapers. 

In denouncing Mr. Gallo's arriv- 
al, journalists who left Le Matin 
were vehement: The Socialists have 
“nationalized*’ fee newspaper, 
wrote Bernard Frank, a French 
novelist whose weekly column hid 
a strong following among intellec- 
tuals. 

“1 can imagine fee happiness of 
militant Socialists who want a 
morning diet of certainties, nqsy 
feat they trill have a big modem 
daily all to themselves, enlivened 
by fee anient verve of fee former 
official spokesman,” Mr. Frank 
wrote in ms farewell column. 


U.S. Seeks to Bar . 
Mexico's UNEnvoy 

Los Angela Tunes Service ■> 

MEXICO CITY — The United 
States is seeking fee removal of 
Mexico's ambassador to the United 
Nations. Porftrio Munoz Ledo, 
diplomatic sources said. 

Behind the move, tbe sources 
said Wednesday, is Mr. Muhoz’s 
involvement in an incident in New 
York on April S, which they de- 
scribed as “a fairly serious breach 
of diplomatic protocol" “ 

The United States has not made 
a formal request for fee recall of 
Mr. Munoz, fee sources said, be- 
cause it does not warn to appear Jo 
pressure President Miguel de la 
Madrid 

The incident occurred outside 
Mr. Munoz's Manhattan apart- 
ment. New York City police sakl 
that a Scarsdale, New York, man 
complained that Mr. Munoz shat- 
tered the windshield of his car by 
hitting it wife a pistol because fee 
car was infringing on Mr. Mufloz's 
reserved parking space. 


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dra t Ronald Reagan’s proposed 
space defense program. He said 
feat Britain expected to confer an 
the matter with the United States 
while the other Etuopedn allies 
continued to debate it 

Of the overall military budget, 
Mr. Hesdtme said it was more than 
£1 billion higher than last year 
“and win provide for annual real 
growth in the region of 3 percent." . 

Excluding what Britain is spend- 
ing to maintain its defease of the 
F alkland Idandy, he said, the bud- 
get is about ane-fifth higher in real 
terms than five years ago. 

Of Britain’s defease commit- 
ments outside the NATO area, 
such as in the Falklands, Belize, 
Hong Kong and Brunei, the budger 
document issued by fee defense 
ministry indicated little change in 
fee near future. 


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Page 6 


Hera lb 


INTERNATIONAL 



Eribune 


Poblnbed With The New York Tima sad The WntnFgto* PM 


Bitburg: Time to Move On 


; President Ronald Reagan w3J go to Bit- 
burg. At this late stage, he is probably right 
to stick to the initial ill-conceived program. 
The alternative — a substitute program 
whose political opportunism would have 
been all loo obvious, and the repudiation of 
a promise given to Chancellor Helmut Kohl 
— would only have compounded the dam- 
age already done. Even a cancellation, under 
these circumstances, might not ease the of- 
fense which the affair has already given. 

The calamity was unnecessary and should 
never have occurred. There was no need for 
for a symbolic American -German reconcili- 
ation in front of the television cameras. 
Reconciliation has been a reality for years. 

The original decision to visit Bitburg but 
not Dachau was wrong. It reflected an ap- 
palling disregard of history. It was an af- 
front to the memory of the millions of civil- 
ians. Jews and others, murdered by the 
Nazis, and to the thousands of dead Ameri- 
can soldiers, none of whom are buried in 
Bitburg. The resulting outcry in the United 
States was right and inevitable. The problem 
was compounded by Mr. Reagan’s subse- 
quent exp lana tions of the decision. And 
while it was right to add Bergea-Belsen to 
the itinerary, it would have been wrong to 
rhinlc that this later gesture could somehow 
assuage the anguish so many Americans felt 

In the German Federal Republic, the 
damage was of a different kind. Millions of 
West Germans who thought that they had 
become accepted as moral equals by their 
allies found out that the image of the Satanic 
German survives beneath the surface and is 
quickly resurrected by one false gesture. 

Ironically, while the president and the 
chancellor seemed to act in this instance as if 
Ger man y’s Nazi past should or could be 
ignored. West Germans have been engaged 
in serious self-analysis about this history. 

In hundreds of commentaries in their 
newspapers and on television, they are ask- 
ing themselves such questions as whether the 
defeat of 1945 was a national disaster or a 


necessity for Germany as well as the rest of 
the world, and how they could best continue 
to live with the consequences of the war, 
including the division of Germany. They are 
dealing with the question of guilt and the 
fact that they themselves, in spite of the 
resistance of some, had failed to get rid of 
Hitler. The Bitburg controversy has cut 
across this national debate, sometimes 
threatening to reduce the issue to an 
impossible choice between collective con- 
demnation and collective innocence. 

It is now time to end this controversy — 
but only while remembering what it has 
taught us: First, that it is wrong to attempt 
to escape the past, and second, that we are 
also destined to live with a future that 
we are even now creating. 

It is vital that the West Germans continue 
to examine their past and come to terms 
with iL And it is also vital that they remain 
on the democratic, peaceful, moderate road 
that they have been traveling for the last 40 
yean. As they do so, they have a right to 
expect not only encouragement but genuine 
respect and friendship from those who share 
their present goals. But such an attitude does 
not require, as Mr. Kohl himself has argued, 
either exoneration for what happened before 
1945 or suppression of its memory. 

Just as the words of Mr. Reagan and Hie 
Wiesel in very different ways did much to 
shape perceptions of this event over the 
past few weeks, so the words and attitudes 
conveyed during the next few days will 
have an enormous impact in either attenuat- 
ing or deepening the damage. 

Richard von Weizs&cker, West Germa- 
ny’s president, had it right when he said on 
television the other day that the Germans 
must take the outcry over Bitburg seriously 
but without becoming obsessed by it. We 
must do all we can to get as close as posable 
to the truth of the past, he said in effect, 
because only truthful history can be a foun- 
dation for future friendships. 

INTERNATIONAL HERALD TRIBUNE. 


When Shared Values Transcend Apparent Divisions 


N EW YORK — Seventy-two percent of the 
West Germans want President Ronald Rea- 
gan to go through with his visit to the Bitburg 
cemetery: 55 percent of .Americans think be should 
not It Has taken 40 years to do iL but our leaders 
finally have managed to set majorities of their 
countries against each other. Or so it seems. 

Fortunately, the underlying reality is differenL 
as we can see if we turn from the controversial visit 
and take a look at what people in both the United 
States and West Germany really care about. 

These apparently opposing majorities may have 
different hist thoughts, hit they are not divided on 
fundamentals. What the West German majority 
wants is that an American President should recog- 
nize the enormous, tragic loss of life in the genera- 
tion of young Germans who fought the war that 
Hitler made. They also want a recognition of the 
truth that among those who died there were mil- 
lions of brave, decent men. 

Does an American majority object to such rec- 
ognition? I very' much doubt k 


By McGeorge Bundy 


What has turned Americans aprinst the visit is 
the 49 graves of Waffen SS members and the pain 
that is thus created, among millions of Americans, 
Jews and non-Jews, by the thought that anyone, 
anywhere might wish to Forget what the SS as a 
whole represented and what it did. 

Does a German majority’ disagree? I am abso- 
lutely convinced that it does not 
■ Nothing has been more remarkable in the ex- 
traordinary civic decency of West Germans over 
these 40 years than their unflin chin g recognition 
of the Holocaust as Hitler’s most monstrous crime, 
and of the guilt shared fay all who played any pan 
in the events of those bleak years. 

It is not the West German and American peo- 
ples. but a single insensitive arrangement, that has 
now put their shared values in apparent opposi- 
tion. We may regret the insensitivity, but we most 
not let it divide us where we are not really divided. 


The president’s wreath will be intended to honor 
decent men for decent reasons, and the German 
co mmi tm en t to respect the memory of the Holo- 
caust will not be jeopardized because of a poor 
dunce of cemeteries for this gesture. 

I am sore Chancellor Helmut Kohl and Mr. 
Reagan will do their very best to find the right 
words to express all that has brought us together 
since 1945 — in dangers shared ana surmounted, 
in understanding of what friendship is and re- 
quires, above all in our common commitment to a 

shared freedom. Meanwhile, it may help us all to 
keep in mind that good things do not come free. 

In the words of Goethe, with which John F. 
Kennedy ended a speech in Paulskirche, in Frank- 

r..M IMSM. Ml,. “U. Mm ki. _M A 


fun, 22 years ago: “He only earns his freedom and 
existence who oaS 


3y conquers them anew." 


The writer, professor of history at New York 
University, served as national security adviser to 
PraidentsJohn F. Kennedy and Lyndon B. Johnson. 
He contributed this view to The New York Times. 


And Now the Banana War Washington Is Wrong to Fear Reforms in Moscow 


The obvious purpose of the hastily ordered 
embargo on trade with Nicaragua is to blot out 
Congress’s embarrassing refusal to keep fi- 
nancing the CIA war. The administration is 
protecting tbe president’s authority and capac- 
ity to act forcefully — even if that means 
waging war with bunches of bananas. 

There are two things to be said for tbe 
embargo. It is aboveboard and apparently le- 
gal. Htilflcp tbe undeclared war by “contras.” 
And it sends a useful message to Moscow, 
where President Daniel Ortega Saavedra of 
Nicaragua has been shopping for comradely 
aid: supporting the Sandinists’ faltering econ- 
omy will not be cheap. If ever the issues in 
Nicaragua could come to npgntiatinn, the San- 
dinists might be moved toward compromise by 
economic pressures of this sort 

But tbe policy conundrum remains. A boy- 
cott of Nicaraguan bananas and Grade-B beef 
will not topple the regime. Neither will dosing 
America's ports and airports to Nicaraguan 
ships and planes. As Secretary of State George 
P. Shultz remarked to The Washington Post: 
‘^Nicaragua has other places to sell goods — 
It’s not going to be an overpowering event.” 

The embargo is not a policy unless it comes 
with a plausible price tag. What must the 
Sandinists do to gam relief, or even positive 
American economic help? Though it lacks the 
means to strangle tbe Sandinists, the adminis- 
tration has not been willing to offer terms 
that might concede tbe regime’s survival. 
Indeed, the embargo win propel the regime 
to depend still more heavily on Soviet-bloc 
aid and to blame its own inadequacies on 


Yanqur imperialism. As it does so, tbe White 
House w01 tell us, “We told you so.” 

There is one other way in which the embargo 
will work against compromise. Tbe economic 
consequences will bear heaviest on Nicara- 
gua’s private sector, which has been a 
major source of support for the nonviolent 
opposition to the Sandinists. 

Thai is surely why the Reagan administra- 
tion has not imposed an embargo until now. 
It may also explain the abrupt resignation 
of Langhome Motley as head of the State 
Department’s hemisphere office and his re- 
placement by Elliott Abrams, who has made 
no secret of his desire to help topple the regime 
of Mr. Ortega in Managua. 

The hard-line approach has tbe virtue of 
simplicity: If Nicaragua’s leaders are inflexi- 
bly bent on spreading Communism, no deal is 
possible: But at least some American officials, 
apparently including Mr. Motley and his 
predecessor, Thomas Enders, have thought 
that the Sandinists could be brought to make 
considerable concessions to American inter- 
ests as part of an agreement that leaves them 
in command inside Nicaragua. 

That thesis may be wrong, but it has yet to 
be seriously tested by the United States. The 
administration has been so afraid of “another 
Cuba” that it has made it almost impossible 
for the Managua regime to behave like any- 
thing other than Cuba. Tbe headlines so 
opportunely churned by the embargo may 
offset a momentary frustration. But they still 
do not add up to a solid policy. 

— THE NEW YORK TIMES. 


RINCETTON, New Jersey — Let 


P R1 

it be recorded that the initial 


By Stephen F. Cohen 


American response to a new Soviet 
leader promising some kind of re- 
form to his people was not one of 
encouragement but deep alarm. 

Underlying that reaction to Mik- 
hail S. Gorbachev is an ominous 
trend in American policy-making 
which has been obscured by the me- 
dia's tririal focus on his alleged 
“mastery of public relations.” 

Faced with the first Soviet leader 
in 30 years who is both reform-mind- 
ed and rigorous, some Reagan ad- 
ministration officials and kindred an- 
alysts are insisting that even a 
partially reformed Soviet system will 
represent a far greater threat to U.S. 
interests. As one Washington Sovie- 
tologist put iL “If the Soviet Union 
proceeds with real economic reform, 
that is only going to make the Krem- 
lin more competitive in its rivalry 
with the United Slates." 

Even though Mr. Gorbachev faces 
enormous internal obstacles to any 
significant reform and is far from 
haring consolidated his power, the 
prospect is already viewed, according 
ro some columnists, “with chilling 
seriousness in Washington.” 

A lemon of analysts have rushed to 
warn that the new general secretary 
will be an exceptionally “dangerous 
adversary,” or as an American diplo- 
mat exhorted, “our most formidable 


opponent in the Kremlin since Le- 
nin.” i Evidently. Mr. Gorbachev is 
expected to outdo Stalin.; The mes- 
sage, it seems, is that the United 
States must redouble its vigilance be- 
cause. as Washington’s new watch- 
words caution, its “free lunch in East- 
West relations ... is over.” 

The thesis dal Soviet reform is 
inimical to U.S. interests has exer- 
cised shadowy influence over policy 


U.S. administration’s rejection of Mr. 
Gorbachev’s first overture on April 7. 
Reagan spokesmen and commenta- 
tors dismuttfri the proposal as “pro- 
paganda” but ignoreo that it con- 
tained two new concessions: a 
unila teral Soviet moratorium on de- 
ployment of EurotnissOes and a tacit 
acceptance of U.S. missiles already 
deployed in Western Europe. 

In an effort to lend weight to this 


The thesis that Soviet reform is inimical to American 
interests has exercised a shadouy influence over U£. 
policy ever since Mr, Reagan became president 


ever since the beginning of the Rea- 
gan administration. Now in the open, 
its invidious implications should not 
escape scrutiny. Morally, it is bla- 
tantly indifferent to the well-being 
of ordinary Soviet dozens, who may 
benefit from economic changes and 
any liberalizing ramifications in (he 


cold war perspective on Soviet re- 
form. two specious historical argu- 
ments are being put forth. One is that 
economic change will actually be bad 
for Soviet citizens because, according 
experts” died in The New York 


ro 


country’s political life. 

' lineally, it implies that the U-S. 


Politically, u rmpuea 
government should in effect collabo- 
rate with Mr. Gorbachev’s anti-re- 


form opponents at home by denying 
te better international relations 


him the 

be will need- Such a policy may al- 
ready be in place, as evidenced by the 


Tunes, previous cases have always 
entailed “a history of intensified re- 
pression.” Those authorities appar- 
ently know little of Soviet history. 

tbe Soviet Union has experienced 
two major episodes of economic re- 
form — the New Economic Policy 
introduced by Lenin in the 1920s and 
the destabilization policies begun by 
Nikita Khrushchev in the 1950s. Both 


Other Opinion 


Remembering What the World Forgets 


Bonn: A Chance for Change 


Since the first seven-nation economic sum- 
mit meeting was held 10 years ago, tbe annual 
get-togethers have been long on oratory and 
short oa concrete accomplishment. Still, the 
summit that opened in Bonn Thursday could 
give events a helpful shove in the right direc- 
tion. President Reagan wants to urge the Japa- 
nese and the Europeans to stimulate ibeir 
economic growth to take up the slack as the 
U.S. economy loses its vigor. He also wants a 
firm commitment to a new round of world 
trade negotiations early next year. 

The other leaders are more interested in 


talking about the strains that are bring im- 
posed on the global economy by the huge U.S. 
budget deficit and the related phenomena of 
high interest races and a bloated dollar. The 
concern over the U.S. deficit is justified. If Mr. 
Reagan's counterparts from Japan. Great Brit- 
ain. France, West Germany, Italy and Cana da 
can bring pressure on tbe administration to do 
something about tbe problem, that alone will 
make the summit worthwhile. However, the 
other heads of state will do themselv es and the 
world a disfavor if they dismiss too lightly the 
American call for cooperation in maintaining 
economic growth and resisting protectionism. 

— The Los Angeles Times. 


FROM OUR MAY 3 PAGES, 75 AND 50 YEARS AGO 


1910: Canadian Is Held at Ellis Island 

TORONTO —Labor dreles here were excited 
over a despatch from New York [on May 2] 
stating that Mr. John Lyons, vice-president of 
tire Toronto Labor Council, who had arrived 
in New Y ork from England, had been detained 
by the immigration authorities at that port as 
an “undesirable emigrant.” The statement that 
he was a Canadian and traveling to Toronto 
was not accepted, and he is bring held at Ellis 
Island Immigration Station until identifica- 
tion. The Labor Council had taken steps in 
communicating with the D omini on Govern- 
ment- and Mr. Lyons' detention will doubtless 
be of short duration. There is great irritation 
here over the incident, and these recurring 
mistakes on the part of the American immigra- 
tion officials are regarded as an outrage. 


1935: Goering Tells of IVaaa Air Fleet 
BERLIN — A picture of Nazi Germany, as if 
by a conjuror’s wand, “suddenly creating over- 
night” one of the most powerful fleets of 
military airplanes that tbe world has ever seen 
was drawn by General Hermann Goering, 
Minister of Aviation and Prime Minister of 
Prussia, at a luncheon attended by the foreign 
correspondents of Berlin [on May 2]. Even as 
late as a year ago, declared tbe Nazi leader, 
“we could honestly say that the Reach was 
disarmed in the air, save for a handful of 
experimental airplanes. But by a manufactur- 
ing process, original and unique in the annals 
of aviation, tbe Nazi government has discov- 
ered a way of turning out pursuit planes and 
bombers on the wholesale scale with which the 
Ford plant turns out passenger cars.” 


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L OS ANGELES — During the past 
# week or so. conferences, com- 
memorative services and demons tra-. 
dons have been held from Washing- 
ton to Los Angeles, in Paris and 
London, in remembrance of April 24, 
1915, when several hundred Arme- 
nian intellectual, religious and politi- 
cal leaders in Constantinople were 
imprisoned and later killed In the 
next several years, Armenians were 
forcibly removed from their ancestral 
lands in Turkey, and 1.5 million died. 

While survivors weep over memo- 
ries of those Iosl the response of 
most non- Armenians is disinterest, or 
hostility over the thing they associate 
with Armenians: terrorism. 

Why does the genocide or 70 years 
ago figure so prominently in the con- 
sciousness of all Armenians? I offer 
two answers to this question, based 
on nearly 100 interviews with survi- 
vors that my wife and 1 have done as 
part of an oral history project. 

First, time does not heal some 
wounds. Under the pretense of re- 
moving Armenians from war zones 
and an invading Russian army, the 
Turkish government deported them 
to the Syrian deserts and surrounding 
regions. Typically, men and teen-age 
boys were separated from tbe cara- 
vans early in tbe deportation journey 
and were shot or butchered. 

The women and children contin- 
ued on fooL sometimes for months. 
Along the way they were robbed, 
raped and massacred. Children were 
stolen. Mothers were faced with the 


By Donald E. Miller 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY. Chairman 1958-1982 


KATHARINE GRAHAM. WILLIAM S. PALEY. ARTHUR OCHS SULZBERGER 

Co-Chairmen 


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SAMUEL ABT 
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Editor ALAIN LBCOUR 

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Q 1985. International Herald Tribune. AB rights reserved. 



tragic moral choice or giving away 
children to Turks and Kurds in the 


hope that they might thereby survive. 
Or, more painfully, the very young 
and elderly were abandoned on the 
way in order that those stronger in 
body and spirit could continue. 

Some or those interviewed are the 
only survivors from their family. 
They were children 3 c the time. Their 
pain is not just the memories of bru- 
tal acts they witnessed, but the suffer- 
ing of aloneness and abandonment as 
children. Should we be surprised that 
these elderly survivors are still preoc- 
cupied with events 70 years ago? 

Second, the genocide ruptured Ar- 
menians’ sense of a morally ordered 
universe. In the years surrounding 
1920, the newspapers were filled with 
stories of the plight of Armenians. It 


was then that the phrase, “starving 
Armenians,” gained currency. In- 
deed, many thousands of Armenians 
did die of starvation. Having been 
deponed from their homelands and 
robbed, they were reduced to eating 
grass and on occasion picking seeds 
out of the riling of animals. 

The rupture that Armenians per- 
ceive in the moral order worsens with 
time, while the campaign of denial by 
the Turkish government increases. 

It is one thing to suffer enormous 
tragedy. It is quite another to be told 
that nothing really occurred. 

While the Holocaust of the Jews is 
surely as terrible an event as the first 
genocide of the 20th century, at least 
the Jews have had the catharsis of the 
world's recognition of what hap- 
pened to their people 40 years ago. 

Daily, tbe Armenians bear the 
charge that their claims are fabrica- 
tions and lies. According to counter- 
charges by the Turkish government, 
even tbe personal accounts given to 
us are the product of coaching by 
Armenian terrorist groups. 

1 have just returned from two con- 
ferences. one at Harvard and the oth- 
er at Bentley College, in Waltham, 
Massachusetts, attended by scholars 
from all over the world. 

In no instance did I hear support 
for terrorism, either from speakers or 
Armenians in the audience. What I 
did hear was the painful acknowledg- 
ment that terrorism has been a key 
factor in bringing the Armenian 
genocide to public attention. 

On the other hand, there seemed to 
be a strong sentiment that further 
terrorist actions by Armenians would 
be coumeroroductive. 

The task now is to turn to the 
enormous archives of diplomatic and 
other materials that are present in the 
United States, Germany. France, En- 
gland and Turkey. The time has come 
for scholars to examine more intense- 
ly the historical record, rather than 


fractional percentage of Armenians 
worldwide are associated with terror- 
ist organizations. To acknowledge 
the genocide is not to tacitly support 
terrorism, as President Ronald Rea- 


gan apparently believes. 
In tact, quite 


fact, quite the opposite is true: 
Denying the Armenian genocide will 
bdp to rod future terrorism. 

Unfortunately, what seems to be 
happening in the Reagan administra- 
tion is that American self-interest is 
defining past history. Turkey’s strate- 
gic location as a buffer between the 
Soviet Union and Western Europe is 
resulting in a hostile response by the 
State Department to Armenian 
claims for recognition of tbe geno- 
cide. Tragically, political consider- 
ations are once again making victims 
of the Armenian people. 


The writer is director of the School 
of Religion at the University of South- 
ern California. He contributed this 
comment to the Los Angeles Times. 


The writer is professor of politics at 
Princeton University and a frequent 
commentator on Soviet affairs. He 
contributed this comment to the Inter- 
national Herald Tribune. 


Latins See 
Vietnam in 
U.S. Policy 


U.S. policy-makers. Controversy 
continues to surround the issue of 


US. credibility, the. use of force in 
Third World conflicts, the appropri- 
ate roles for Congress in shaping for- 
eign policy. For us in Latin America, 
the meaning seems much dearer. 

For a short period. U.S. leaders 
seemed to draw strength from the 
public opposition that helped ro end 
the Vietnam War. They introduced 
new ethical considerations into na- 


tional security policy and resisted the 
temptations of unilateral mflitarv 

the limits of UJS. power and the dan- 
gers of viewing Third World conflicts 
strictly through the prism of East- 
West relations. Finally, they seemed 
to understand the necessity of seek- 
ing democratic solutions to tbe prob- 
lems of political instability in some of 
the developing countries. 

The post-Vietnam foreign policy of 
the United States was a great success 
in Latin America. It led to tbe Pana- 
ma Canal treaties, the promotion of 


ma Canal treaties, the promotion or 
human rights, support for democracy 
as the antidote to Communism and a 


lessening of the intolerable paternal- 
ism that has traditionally marked 
Americans dealings with its Latin 


Latm Americans and North 
cans shared a vision that our common 
enemies are poverty, hunger, oppres- 
sion and the use of military force. 

Then came the Iranian hostage cri- 
sis, the invasion of Afghanistan and 
■the civil war in Nicaragua — and 
almost before we noticed, the United 


States had reverted to the iQ-fated 
attitudes of the Vietnam period. The 
several years since have brought a 


led to substantial political liberaliza- 
tion. including a sharp curtailment of 
police rep re ssion and a significant 
in f.r«i» m nuriifftiai and cultural 
freedom, of what Soviet citizens nos- 
talgically call a "thaw” 

Mr. Gorbachev may somehow car- 
ry out economic reform without that 
kind of political relaxation, but histo- 
ry suggests otherwise. Moreover, be 
has already proposed several mea- 
sures that entail some degree of liber- 
alization. such as more local initiative 
and less censorship of information. 

The second historical fallacy main- 
tains that during periods afdotnesric 
reform, the Soviet leadership invari- 
ably becomes more aggressive and 
less accommodating abroad. Here, 
too, the record suggests otherwise. 
During the refrains of the 1920s, the 
Soviet government embarked on its 
first experiment in what later became 
known as dfclente, seeking dipl o m at ic 
and trade agreements with capitalist 
countries it had previously vilified. 

Nor was Mr. Khrushchev, 30 years 
later, merely a reckless international 
buccaneer, as be is so of ten por- 
trayed.- His foreign policies were 
sometimes threatening to the United 
States, as in Hungary. Berlin and 
Cuba. But it is more instructive to 
remember him as both a reformer at 
home and the founding father, al< 
with President Eisenhower, of 
em dhtente in Soviet-U-S. relations. 

It is too early to conclude that Mr. 
Gorbachev, if given a chance, will 
follow a similar course, but the signs 
are encouraging. He has pointedly 
associated himself with long-stand- 
ing reformist ideas in the Soviet es- 
tablishment. like earlier reformers, 
he has indicated that such a domestic 
program requires a relaxation of in- 
.teraatioaal tensions to counter con- 
servative protests that change is too 
risky. Hence, his recent statement 
that better Soviet-American relations 
arc “extremely necessary.” And 
hence, his lament over the current 
“ice age” in those relations, a meta- 
phor that evokes the possibility of a 
new “thaw” at home and abroad. 

The United States must now de- 
ride whether it is a friend or a foe of 
Soviet reform. A cold war policy wfl] 
almost certainly freeze any prospects 
of a Moscow spring. Tbe alternative 
is an open-minded and hopeful US 
response that is wise and worthy of a 
compassionate nation. 


militarization of policy. 
Once again, washing 


preoccupied 
struggle, the “Evil Empire, " Commu- 
nism and “falling dominoes.” It also 
appears to believe, disastrously, that 
it can impose political stability 
through the use of force. 

Once again, despite the opposition 
of its awn people, the government of 
(he United States is assuming a belli- 
cose approach to foreign problems. 

In Latin America, tins attitude has 
produced the absurd British- Argen- 
tine war over the Malvinas, or Falk- 
land Islands — the United States was 
nor directly involved, hot 'the war 
cotild .have bear averted through its 


view has also resulted in the 
invasion of Grenada, the re-estab- 
lishment of Communism as the sup- 
posed chief cause of turbulence m 
Latin America and the escalation of 
the conflicts in Central America. 

What this means is that the Conta- 
dora countries — Colombo, Mexico, 
Panama and Venezuela — winch are 
attempting to negotiate a peaceful 
solution to Central American prob- 
lems, are confronted by a hostile gov- 
ernment in tbe United States. 

The Reagan administration offers 
rhetorical support for the Comadora 
process but m reality series to win a 
military victory and overthrow the 
Sondimst government. With this atti- 
tude, it ri»s widening the war, push- 
ing the Sandinist leadership deeper 
into the Soviet-Cuban camp and poi- 
soning relations with its democratic 
allies m Latin America. 

Apparently, Washington does not 
understand that there will be no 
peace in Central America until it un- 
equivocally supports the Conladora 
process. Instead, as in Vietnam, the 
US. government ispursringa for- 
eign policy inconsistent with its own 
belief in national sovereignty and 
nonintervention — a policy that lacks 
the support of the American public. 
For Latin Americans, attest, die 


LETTERS TO THE EDITOR 

An Insult to the Marines 


Probably no greater insult could be 
dealt the U.S. Marines than that im- 
plied by Harold OJ. Brown’s letter 
(April 25) stating that “many young 
Germans entered tbe Waffen SS for 
about the same reasons that Ameri- 
cans were joining the Marines instead 
, for tbe draft — it was an 


would be that the U.S. Marines and 
its Commando and Ranger units’ 
prove that wdl disciplined fighting 
forces can be trained without the 
pseudo-soentific claptrap that the 
Nazi units forced upon their trainees. 

MARIAN CONVERSE. 

Brussels. 


Israeli actions by its silence. He as his 
successor will one day use the tax 
dollar to pay reparations to the Arab 
it the Jewis 


victims of the Jewish state because 
Israel is bankrupt and America Feels 
a moral obligation toward Israel 
VIRGINIA GRANT. 
Amman , Jordan. 


of waiting : 


elite fighting force.” 
In 193; 


Die Other Holocaust 


justice 40 Years On 


leave the accounting to Washington 
hired by 


public-relations companies 
the Republic of Turkey. 

An important change needs to oc- 
cur in public perception, as well as in 
the views of the Reagan administra- 
tion. Armenians are not terrorists. A 


>33 and 1934, it did become 
“chic” to join the Waffen SS after 
some of die aristocracy became asso- 
ciated with recruitment The sons of 
the middle class rushed to join be- 
cause the "black uniform” became 
the symbol of “masculine elegance.” 
As the Waffen SS became more pow- 
erful, its members were guaranteed 
the best state jobs and other privi- 
leges of power denied to others. 

In tbe United States, tbe growing 
Air Force attracted tbe younger gen- 
eration of males but no group was 
more important than another. Tbe 
Waffen SS was completely political 
and totalitarian in that it eventually 
controlled every Facet of German so- 
ciety, If any comparison is in order, it 


Should 
ril 6) by 


Regarding " Why 
Truly Visit Dachau” f, 

Charles William Moynes: 

President Reagan is absolutely 
right in not visiting Dachau. If he did 
he would discover no fresh answers to 
the dilemma over Man’s inhumanly 
to Man. And why Dachau anyway? It 
happened over 40 years ago. west 
lid note 


Regarding the opinion column 
"When History Forbids a Fair Hear- 
ing" (April 22) by V. W. Hughes: 

Mr. Hughes fails to understand 


that by bringing Nazi war criminals 
trial. ‘ 


to 


Germany, which did not exist then, is 


still paying reparations to Israel, the 
ityon ‘ 


majority of whose citizens have never 
set foot in Germany, to compensate 
only Jewish victims of Hitler. 

Where Mr. Reagan should go is 
Lebanon. There he could see a holo- 
caust in progress. Mr. Reagan knows 
that American money aimed the Is- 
raelis. and that Congress condones 


the world does not seek to 
deter zealots and sociopaths of the 
future with lessons of vengeance” but 
to awaken tomorrow's innocents to 
tbe need for never ending vigilance. 

If h is true that "one cannot avenge 
[those] who have been at peace Tn 
their graves for 40 years” then it is 
also true that one cannot forsake 
those trim 40 years later live with the 
memory of the horror seared in their 
aging hearts and bones. 

JEREMY M. DAVIS. 

Tbe Hague. 




By Carlos Andres Perez 


N EW YORK — On the 10th an- 
niversary of the Call. of Saigon. 
Americans are pondering the lessons 
of the tragic revolvement of the Unit- 
ed Stares tn Indochina. It is vital that 
they do so, particularly given the om- 
inous parallels between the war in - 
Southeast Asia and Mtat is happen- 
ing today in Central America. 

Unfortunately, Vietnam seems to 
hare had few dear-cut lessons for 




ashing ton is overly 
with the East-West 


r 


lesson of -Vietnam is crystal dear — 
that the United States is strongest 
when it acts for social justice and 
democratic change, that it is most 
effective when it acts multilaierally, 
and most successful when it deals 
with its neighbors as equals dedicated 
to peace, freedom and democracy. 

we rally wish the United States 
could see this as dearly as we do. 


The writer, president of Venezuela' 
from 1974 to 1979, is now a numbered 
the Venezuelan Senate. This article 
from The New York Tones is adapted 
from a recent speech he made to the 
Council on Foreign Relations. 


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Page 8 


INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3 , 1985 


NYSE Most Actives 

VoL HM Low Lost Cba. 


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Indus 72407 12501 123593 124327 + 023 

Trono 57252 SUM 5407 577JS + 4® 

Utir 15391 13*29 153.19 1S3J3 + 091 

Comp 50257 507 JO 49894 303311 + 191 


NYSE Diaries 


NYSE Index 


ConmoyT* 

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[ Dow Jones Bond Averages! 


Bands 

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74.98 + 008 

7137 +014 

7010 + 093 


Total Issues 
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any sales >51121 

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Via The .Associated Press 


AMEX Diaries 


NASDAQ index 


AMEX Most Actives 


HIM in last 


C om posite 
Indus! rials 
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Hew Laws 

Volume up 

Volume down 


Standard & Poor's Index 


KM* Law dose Otoe 
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Tramp. 150*1 147*3 15041 +298 

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226*1 17503 22534 —0*1 


12 Month 
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XM 16 AAR *8 2a » 97 17 16M Mft— % United Press international 

1914 9M AGS 12 101 14% 13% 14% + % ™ .... 

„ J » IK*,* NEW YORK— Prices Tuusbed mixed Thurs- 
51% so amp ni 4x* I* 58 ioo Im 5m soft— 14 day on the New York Stock Exchange, and 

n% IBM amr nf 218 leu ' ^ jm % same analysts said investors continued to be 

3* ’2 52?" *» 10J H £ 'J* T* conTused about the U.S. economic outlook. 

£22“ ^5 S fSJt-M Speculative energy issues stole the show, and 

24% i4vs azp 272 ii* 7 1398 23m 23 23M + M blue-chips recouped some losses. 

3 if *2 SS The Dow Jon« industrial average gained 


NEW YORK —Prices tuusbed mixed I burs- -mr -* y 

day on the New York Stock Exchange, and lThCTCQSSS 

some anal ysts said investors continued to be 

conTused about the U.S. economic outlook. The Associated Press 

Speculative energy issues stole the show, and NEW YORK — The narrows 


100 114 1M 1M 

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enough indication that we have seen the low 
here.'' said Ricky Harrington, of Interstate Se- 


ioo* 67M 67% 67% + % entities, Charlotte, North Carolina. 


37 131b 13% 13M 


’2 M a2 7 ST * 0.22 to 1.24227. but declining stocks led 

jj'if.jss 's-’n . s :s !r isis v ^ss raby ^ 8 ‘ 7 n:“^ lu, ^’^iS 

w% m Adysm jn 5* u ioo 9% 9% ty» _ million shares, up from the 101.6 million traded 

i» 2 2% a SSb .12 i* 12 ^% V va * 8 % Wednesday. 

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S* W’S ,3 415 SS SS + % ™ « Points by the Don 

m Align 21 w H4 so a* previous four sessions, and analysts i 

51 3SM AlrPrd IJD 23 T1 14S1 48% 47ft 48% — 14 f... , . --rf-,.- 

34M T3 AirbFn *o 23 is 440x u 17% » slide could continue. 

37% 2 i £tap5f 25 WO 109 ” 5» lift 2«4 2 « - % "This is a relatively critical level. The 

mough indication tkt we have seen 
W* H* 4 ’-9° 2 2 + £ here, said Ricky Hamngton, of Inters 

68 56 AtoPpf sag 123 iooz67% 67% 67% + 1 * entities, Charlotte, North Carolina. 

.a* m£m? 1 S3 r j s 2 o% sS JS! The market’s momentum seems to bi 

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2i£ 22 12 H 1? ^ HL. £ sdiing over the next two or three days. 

S'* ? 7 * wSau sm is 1 1543 z 7 w 27% OTb— % “Essentially, what you’ve got is con 

»% ai^£ 206 t 2 * 24 ^ ^5 ml + ft said Monte Gordon, of Dreyfus Corp„ 

2 S Sm M mu*™™** sense that nothing will happen uutfl 

2S .T A&iMcirz !u t JT 9iS m some clarification on thedirecUonof tl 

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<6% 28V4 ajmcp ■ i*o 4* 9 6850 46%. 45<* 4i% + 14 ine stock market retreats in tunes 01 

mi 4 5SSSfi2*o s$ W 1 W it% ium- S uioty. be said. “Expectations, high in th 

1 S% 1 i 2 V ‘Aim.d T3J1-TU _ 2 rung of the year, have turned cold, he 

59 % 3a Aiwstr us i» b ns 5*8 s» 5326—1% And the confusing elements — ini 
.mm 24* AibcSf " jwuSot indications of slowed economic growth, 

as% S% alltW 2 m u 9 ™ 3« Sm ISh-4b raws seemingly on hold, the dimming 

SS ?S5£££ *3 ,5 ^ §2 ?^ + % for corporate profits and a Lrade tmbak 


The Associated Press 

NEW YORK — The narrowest measure of 
the U.S. money supply, M-l. rose S2.7 billion in 
mid-April, the' Federal Reserve Board reported 
Thursday. 

The Fed said M-I rose to a seasonally adjust- 
ed $5762 billion in the week ended April 22 
from S573.5 billion the previous week. M-l 
includes currency in circulation, travelers 


of more than 40 points by the Dow in the cha:ks and checking deposits at financial insti- 
previous four sessions, and analysts said the mtioas. 
slide could continue. 

“This is a relatively critical leveL There is not 

enough indication that we have seen the low to fraud charges involving mote than S4- billion 


The market’s momentum seems to be on the 
downside, be said, and could sustain further 


“Essentially, what you’ve got is confusion,’ 
^ 78% 77% wS + ft said Monte Gordon, of Dreyfus Corp^ and “a 
870 2 m 2 <% + m sense that nothing will happen until you get 

i IX* i?S -w some darification^on the direction of the econ- 


64 53ft AtoCppf AJ4 TO* 
113% 99 AkfCf>BfT2in 107 
107% 10W4, AMClrt 12XMU* 
23% 12 AIMPd 
59% 38 AlltlS tr 112 If 
12% 5% Ain*oi 


. 34M 24 AlbCpf 1 29M 29M 29M 

27% 2D ALLTL 1*4 6f 9 217 26% 2644 26% 

35% 27% ALLTpf 2*6 SS 4 34% 34% 34% — M 

39ft 30M Alcoa 170 4* IS 928 30% 30*4 30M 

2SM 15% Ainax JO U 490 17% 17*4 17M + % 

33% 22% AltlHes 1.10 34 23 7149 32M 31% 32% + M 

144 98% AHMPf 3*0 25 6 140 137 140 +3 

2M 114 AmAar iob i lft 2 

19M 15% ABakr 8 24 lff% 18% 18M + % 

70 S3 ABrand 3*0 6* 9 1629 64ft64%64M + % 

27% 244b ABrt pf 2J3 TOO 18 27% 27ft 27ft + % 

,70% S3 Aatopf 267 4.1 1 65% 65% 65%—% 

T15 55M ABdcal 1*0 1* 17 1131 108%10BM1(H%— *4 

1 26% 19% ABMM *6 3* 13 5 2SM 2SM 2SM 

p 27% 20% A Bui Pc *4 25 M 3 25% 25*4 25% — % 


The stock market retreats in times of uncer- 
tainty, he said. “Expectations, high in the ban- 
ning of the year, have turned cold," he said. 

And the conf using elements — increasing 
indications of slowed economic growth, interest 
rates seemingly on hold, the dimming outlook 
for corporate profits and a trade imbalance that 
has sapped die economy's incremental growth 
— have caused investors to become cautious, he 
said. 

E.F. Hutton fell 3 to 2 914 afterpleading guilty 


u> fraud charges involving mote than S4 billion 
in funds. The financial services company will 
make restitution to all banks involved 

Arco was the most active NYSE-listed issue, 
falling % to 62tt. Mobil foDowed, adding 1H to 
31#. 

Houston Natural Gas was third, jumping 8% 
to 67 W. InterNortb agreed to acquire it for S70 a 
share. InterNortb fell 3 Vi 48. 

Texaco lost % to 38)4 and Amoco (ex-divi- 
dend) dropped 1% to 66%. 

In technologies. IBM gave up Ik to I25!e. 

Sperry added ^4 to 493% and Hewlett Packard 
rose Vi to 3214. 

Control Data jumped Vi to 31% on specula- 
tion that it may spin off its financial-services 
division. 

In autos. General Motors and Ford finished 
higher, while Chrylser lost % to 3411 

Upjohn advanced 4% to 87% and SmithKline 
Beckman tacked on 214 to 64 Vi. 


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12 Manta 
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29ft ISft ADT .92 4* 23 464 23ft 22ft 23% + % 

21ft ISft AElPw 236010* B 9102 7!ft 31% 21ft + ft 

44ft 25 Am Exp 1JB 21 14 5187 42ft 41ft 41 ft— ft 

30 14ft AFamil 94b 23 13 202 27ft 27M 27ft 

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13% 6 AGnlWt 540 12 % 12 % 12 % + % 

S 5TM AGtopfA 6 J 8 ellS 120 54ft 54ft 54% 

SBft AGnlplBS90*7* 53*5 84% 84%—% 

67 40ft AGnpfD 2*449 851 63 62% 63% + ft 

37ft 25% AHortt 190 4* 9 6 30% 30ft 30*6— % 

13% 7% AHOfcrf 14 9% 9% 9%— % 

62% 46ft AHome 290 5* 12 2101 58%57%SB% + % 
38 2616 AMOSP 1.12 37 M 2229 30*6 29% 30% + % 

87% 62% Amrtch 6*0 77 8 VHO 86 ft 86 86 ft— % 

79% 52 AWGrp M * 19 1375 76% 7316 76% +3% 

133% 112% AlGppf 5*5 44 3 131% 128% 131% +1% 

21% 18% AMI 7232 11 729 22ft 22% 22ft + ft 

5ft 3 AmMot 1051 36 1 I 


72ft SB Bated 3*4 46 9 286 6616 64% 65U 

24% 16ft Barowa 92 49 9 1617 20% 19% 20 — % 

8 % 4ft BafflUtfl 17 6 % 6 % 6 %— % 

3 9ft 25% BOSEC 124 85 8 223 38ft 38 38% — % 

HW 9 BOSEpr 1.17 11* 21 10% M% 10% + % 

12ft 10 % BOSEpr 1*6 119 38 12% 12% 12% 

25ft 14ft Bowfrn 72 13 8 391 21% 21% 21% + 16 


37% 25% CnttEn 1*4 6* 11 358 31 X 

17ft 8 ComdB 98 1* 9 211 14ft 14 

15ft ComMtt J6 20 15 96 17% 17 


37% 8 % Camdrs 


158 31 30ft 30ft— ft 

m i4ft i4 14 — % 

X 17% 17% 17*6 — % 


J 10C0 1 Oft ID 


30% 22% CmwE IM 105 7 5551 2Sft2S%28% + % 


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5BV. 43 IKSstM 1*8 33 16 3899 57% 57 


16% 13 CwEpf 150 119 
17 13ft CWEpf ZOO 12* 


28%—*% 102% 80 CwEpf 1170 115 


91 BrstMpf 2*0 17 
4% 3ft BrttLml 
X 21% BlIlPI 1*3* 59 
18ft 9% BrUTpp 
5ft 2% Brack 


1 120 120 120 

10 4% 4% 4% 

229 27% 27% Z7%— ft 
1032 18ft 17% 17% + ft 
170 2% 2% 2% 


68 53% CWE pf 8J8 124 

27% 18% CwEpf 277 104 
25ft 20% CwEpf 297 11J 
59ft 46 CWEpf 794 123 
25% 17% CamES 272 95 


X 16 15% 16 — % 

1 16% 16% 16% + % 

30001101% 101% 101% + ft 

100i67ft 47ft 67ft 

2 22ft 22% 22% + % 

12 2Sft 2S 25 — % 

70z 59 59 59 +1 

67 24ft 24% 24% 


21% 18% AMI 72 39 11 ; 
5ft 3 AmMot II 

65ft 27ft ANatR* 392 14 12 
43% 25 APrxsM 27 3 I 
13% S ASLFla 4 


1051 3% 3 

48 44ft 64% 

1578 29% 27% 

121 5% 5ft 

18% 12% A5LFI Df 2.19 14.1 1434 13% 13 

16 10% AShlp 90 67 9 HO 11% 11% 

35% 32% AmSta 1*0 51 9 916 38 27% 

56% 26% AmSior *4 1J 9 1390.5% 49 
66ft 46% ASIrpfA 498 79 469 60% 60*6’ 

56% 51 A5fr pfB 6*0 13J 4 55ft 55% 

22% IS ATS.T 190 57 1511355 21% 20% 

38% 30% A TAT pf 3*4 97 23 37% 37% 

39% 31% AT&T pf 374 97 27 38ft 38% 

27% 13ft AWatri 1*0 39 8 366 24% 25% 

12 10 AWufpf ITS 10* 2«te 12 12 

28% 19% AmHoH 240 97 8 98 21% S% 

68% 53% ATrPr 5*4 89 9 68 68 

11% 4% ATrSc 14 10% 10 

X 26% Arrwron 1*0 5* 7 4 32% 32ft 

43ft 18% AiteDa 90 J 21 7» 41% 41ft 

112% 40 Amexpf SJ3 5* 7 107 107 

29% 21% Amafok *0 12 13 131 25% 25% 
28% 18% Amfoe 334 26 25ft 

16 B% Affltat 5 217 lift 10% 

69 50% Amoco 390 49 914328x67% 66ft 

38% 26ft AMP 72 24 18 5228 30% 28% 

24 12ft AmPCD 90 24 16 156 12% 12% 

2B% 19 AmSta 140 59 7 214 27ft 26ft 


a 

is::* 

60% +% 


sss assets | — 

366 26ft 25ft 25ft— % ■ 

2002 12 12 12 

n 21% »% 21% + % 33% 24% 

9 68 68 48 — ft 17J 68% 

14 10% 10 10ft— ft 8% 4% 

4 32% 37ft 32ft 55% 27 . 

m 41% 41% 41%—% 31ft 23% 


22 15% BCckvrv 192 69 X 389 21% 2S% 21 

X X BkvUC 112 897 53 38% X 38% + % 

23ft 19% BkUGpf 247 109 1 22% 22% 23%— ft 

32% V BkUGpf 395 129 29 32ft 32ft 32ft— ft 

26% 13 BwnSB JO 1* I 11 19% 19% 19% 

X 22% BrwnGp 136 5.1 15 93 26% 24% 26% + % 

45% 26% BfftdF IX 2* 15 687 42% 41% 42 + % 

40% 23% Brrawk 1*0 21 B 260 33ft 32% 33ft + % 

40ft 27% BfkMVS 48 15 14 118 32ft 31% 31ft— % 

19% 13% BtPIdV *0 47 ■ 40 17% 17% 17ft — % 

18ft 15% BunfcrH 2.16 11* 72 18ft 18% lift + % 

21% 14ft Burma 13 148 18% 18% 18ft — ft 

29% 23 Bufllnd 1*4 6972 164 36 25% 26 + ft 

58% X BliNtti 140 2* 8 4570 53% 50% 53% +2% 

7% 6% BrINopf *5 75 23 7% 7% 7%— % 

51% 44% BrfNpf 556*11* SO 50% 50% 58%— % 

18% 12% BurndV Ji U U 67 13% 13% 13%— ft 

48% Bwnjti 2*0 44 II 1148 59% 58% 58ft 
12% Bi/tlrln J2 29596 84x17% 17% 17% + ft 

lift 2% ButHrS IM 3ft 3 3 — ft 

15 6ft BUtatPf 2.10 27.1 S 8% 7% 7%— 1 


53 38% X 38% + % 

1 22 % 22 ft 22 ft— ft 

29 32% 32ft 32ft— ft 

11 19% 19% 19% 

93 26% 34% 26% + % 


34ft 20ft Comsat 190 39 11 1055 32% 31% 31%— % 
X 20 CPSVCl 94 7 25 573 33% 32% 33 — % 

36% X Comnar 40 2.1 9 * 2*ft X 28% + ft 

17ft 11 CompSc 7 37 15 14% 14% 

46ft 14% CPtvwi 52 3493 15ft 14% 14ft— % 

32% 21% COilASI 97 29 14 500 31% 21 31 — % 

23ft 13ft Canalr 94b 1* 12 51 23% 23% 23H— % 

27 19% CnnNG 2.40 9.1 10 21 27 24% 24% — ft 

15% 10% Connie 40 3* 4 377 lift 13% 13%—% 
33% 24ft ConsEfl 240 74 7 4*89x32% 32 32ft + % 
44% 38 CoaEpf 5*0 114 11 44% 43% 43ft— % 

36 20% COSFrts 1.10 39 10 !400 2tft 2*V> 38% 

44% 31 OBMG 232 59 13 360 44ft 43% 43% — % 

916 4% COnsPw IS 565 «% 6% 6% 

16 13 CnP Pf A 4.16 16* !5te Xft X X 


32ft 
29% 
10 % 
16% 
16 
13% 
.... 42% 
29ft 22ft 
37 25ft 
17ft 
46% 

7% 

20 % 

24 
36% 

X 

71% 

27 
19% 

55ft 


132 5* 7 107 107 WT -2% 

*0 39 13 131 25% 25% 25%—% 
334 X 25ft X + % 
S 217 lift 10% I0%— % 
LX 49 914323x67% 66ft 64% — 1ft 
-72 24 18 5228 10% 28% X 
90 24 14 156 12% 12ft 12% + % 
40 59 7 214 27ft 26ft 26%—% 


33% 24% CBI in I40D 55 12 702 25% 24ft 25% + % 

122 48% CBS 3*0 2* 18 1112 107ft 106ft 106%— % 

8% 4ft CCX 18 42 6% 6ft *%— % 

55ft 27 . CIGNA 2*0 SO 52 1527 51ft 50% 51% +1 

lift 23% ClG Pi 275 99 18 X 29ft 29ft— % 

7% 4ft CLC 3 5% 5 5 — % 

40% 21% CNA Fn 1* 44 38ft 38% 38% + % 

W% 8% CNAI 1900114 3 10% 10% 10V, + % 

44ft 34ft CPC lot 290 5* 10 414 39% 39ft 39% + % 

Z3ft 14% CP Nil 140 69 9 40 22% 21% 22% + % 


38% 13ft CdPpfB 450 159 
45% 23ft CnPpfD 745 149 
44% 25% CllPpfE 772 149 
25% 11% CUPP tV 440 134 
21% 9ft CPPnrU 340 174 
22% 10ft OlPPiT 378 174 
45% 25% CnP PfH 748 147 
23% lift CnP orR 4*0 177 
23% 18% CnPPrP 398 175 
22% 10ft QlPorN 3*5 149 
15% 7ft CnP prM 250 147 
14% 7 CrtPprt- Z23 157 

34% 11 CPPprS 4*2 17.1 
IS 7ft CnPprK 243 164 


545 «ft 4% 4% 
15te26ft X X 
2501 9% 27% 29% +T 
B70Z 44 43 44 

as 66 Oft 4* +» 

46 06 _ 

47 22% 21ft 71% — % 

3300146% 45% 46 +1% 

32 22% 22% 22% — ft 
X 23% 23ft 22ft— ft 
14 22ft 22% 22%—% 
2 15% 15 15 

10 14 14 14 

71 23% S 23% + % 
16 1«* 14% 14% + ft 


45% 23% QlttCp 240 4.1 7 3M5 <3% 42ft 42ft + % 


43% 25% Am*t*d 1*0 39 14 171 42% 41% 42 + % 


4% 1% Anocmp 

34% 15% AnlOO* 

30% T9ft Anchor 148 


565 3% 3% 3% — % 

16 448 18% 18 18 —ft 

40 22% 22% 22% — ft 


Z3ft 14% CP N« 140 *J 9 40 22% 21% 22% + % 

20% 19% CRHMI .171* 9 157 20ft 20 20ft 

27% 18% CSX 1.16 49 8 1197 74 23% 74 + % 

40ft 24 CTS 1*0 51 115 22% 32% 32%—% 

12% 7% C3 Inc X 110 8% 8% B%— ft 

33ft 22% Cabot .92 3* I 1 DOS 25% 25ft 25% — ft 

14ft 8ft Caesar 15 441 12% t2 12% + % 


10% 4% COMM 
4ft % Cantu rt 
44% 12 Gntlll Pf 
4% % CtllHdn 

9% 4% OH Into 
X II ContTal 172 75 
38% 24% d Data 72 29 


60 S% 8 I — % 

834 2% 2ft 2ft— ft 

8 46 44 4* 

142 1% 1 1 

6 O 7% 7% 7V, — V. 
9 480 23 22% 23 + % 

13383 31% X 30 ft +1% 


42% 24% AnOav 192 34 19 193 36% 36% 36% — ft 

12ft 9% AixfrGr X 1 * 14 24x 10% 10 % 10% 

23% 16% Anodic 56 27 12 121 20%20%20% + % 

84% 99ft Antnus 2*0 24 11 2001 82% 82 82ft + % 


60 45ft AnMupf X60 4.1 
20ft 13% Anlxtr X 29 
14ft 8% Anttiwn *4 9 

15ft 10% Anffmv Mb 39 


4.1 742 99 58% 59 + % 

29 17 164 14ft 14 ]4% 

9 13 123 13 12% 12% 

39 7 4 11% 11% ll%— ft 


20% 11% Co I Fad *9 27 
47% 32ft CalFdPf 475 106 
23% 12% Carthn jsd 1* 
isft u% Camral .(2 9 

X 15ft CRLfcB AO 
9 SHCmpRo .141 
14% 10% Cc R PfB 2J0 


479 17% 17% 17% + % 
8 45ft 44% 44% 

40 18% 18% 18% — ft 
100 13% 12% 13% 

5X 20% 19ft 19%—% 
» 4 3% 3%-ft 

4 11% 11% 11% 


lflk 9ft Apocha X 29 12 189 12% 12ft 12ft— % 


544 19% 19% 19% 

5 32% 22% 32%—% 
17 29% 29% 29% 

45 32 31% 31ft— ft 

85 13ft 12% 13 


2% VS ApchPwt 339 1 ft 1 % l%— % 223 141 

19% 15% ApchPwG.10 107 544 19% 19% 19% 

32ft 27ft ApPwpf 4.18 13* 5 32% 33% 32%—% 

X X ApPwpf 290 12.9 17 29% 29% 29% 

39% 17% ApIDta 1.129 35 17 45 32 31% 31ft— ft 

21ft 1 ApplMa 65 13ft 12% 13 

21ft 15% ArdlDn ,14b 7 13 2005 X 19ft X + ft 

93% 71 ArlPpf 10*4*115 1910191ft 91 »J 

X 23 ArlPpf 3*8 128 M X 27ft 27%— ft 
2M4 13% ArkBst *0 2J 7 99 lift 18 Ufft— ft 

34ft 16 Arkla 1*8 49 21 3976 22% 21% 2TA— % 

s ft Aimw 74 % S A 

13ft 10% Armada 26 as 11% lift lift 

19ft 6ft Armen 482 7ft 7% 7ft + ft 

X 15% Armcpf 2.10 It* 31 18 17% 17ft— ft 
34% 15% AnraRb *8 29 8 117 19 18ft 18ft— ft 

X 22% AmfWtn 150 4*548 1060 X 32ft 32% + ft 

26. 29% Arm* Pf 175 104 Sttz U X 36 + ft 

34% IV AtdCp IX 45 7 17 26% X% 36% + % 

X% 13ft ArawE JO IS 9 57 13ft 13% 13% 

26% 16 Artra 32 S 5 25 25 X 

■Oft 14 Arwln s 90 4.1 7 1*5 19% 19ft 19% + ft 

29ft 17% Awxt 436 24% M% 24ft 

"ft a «8 AtaWil 160 5.1 145 31tt 30% 31ft + % 

40% 31% Aahropf 3.96 *J T5 40ft 39ft 40ft + ft 


73ft 54ft ComSp 250 39 n 129 64% 64 64% + % 

45ft 28% CdPOCB M0 1734 43 41ft 42 —1% 

21% 14ft ConPEfl M 651 20% 20% 20%—% 


I 213 210ft 211% +lft I 


5 25 25 25 

185 19% 19ft 19% + ft 

436 24% 24% 24ft 

145 31ft 30% 31ft + % 

15 40ft 39ft 40ft + % 


«% AwUXJ 2*0 4* 10 3*7 40 59% 57%— % 


WO 73 AsdDpf 475 5* 
35% 18ft Alhton* 1J0 82 
27% IVt AICVEI 248 99 


10 96% 95ft 9Sft— 1ft 
2 19% 19% 19% — ft 
299 2m 26% 26% 


25ft 15 CopHds 78 32 11 807 24% 23ft 24ft + % 

t+% 10 Corings *8 15 lift 11% lift + % 

40ft 24% Carl 1*1* 1*2 3* 10. X 34ft 33ft 33ft— ft 

2«* 15% CoroFt *0 19 10 323 21ft 20% 27ft + % 

28% 19ft CarPw 2*0 97 7 890 27% 26% 26% 

23% 19% CarPpf 2*7 115 3 23% 23ft 23ft— ft 

48 35% CarTec 2.10 55 9 DO 17 36% 34% — ft 

11% 7% Carrel. *7 7 13 X 9% 9% 9%— % 

44% 30% CareMr IX 29 8 32 42% Oft 42ft— % 

32 Iffft Cart+tw 172 4* 10 2*0 28% X X 

34% 19% CarfWI 52 1* 12 91 32% 32 32ft 

H% PVfc CascNG 190 7* 8 IX 16% 1* 16ft + % 

im 9% CnsttCk 366 11% 11 .TIM— % 

<7% 28% CatrpT 50 I* 837 31% 31 31ft— ft 

27ft 16 Ceco 76 39 11 19 3 22ft 22ft— ft 

w% 62ft Catanw 4*0 4* 9 237 91ft 90% 91ft + % 

40% 34 Colon pf 450 11* 5 39% 39ft 39ft 

15 7% Conor n *4 * » 19 9ft 9ft 9ft 

41% 32ft CanM 2X 59 V 164 41ft 48% 40% 

26% 17 Caninn 9 296 21% 21% 21% + % 

34ft 17 CotelW 2*287 7 S39 23ft 23ft 23ft + ft 

26ft 16% CanHud 294 11.1 6 95 25% 25ft 25% + % 

25% 2Dft CHudPf 299*11* 5 25 25 75 — % 

25 18% CenllLI 22 M 9 42 25ft 24% 24%— % 

«. X CnILtpf 450 11J 170, 40% 40 40 — % 


33% 23% corrwd 1.10 39 10 245 29% X X —1ft 
3% 1 vlCOOkU 192 1% 1% 1% + % 

34% 26% Ceopr 152 41 14 <83 29% 29% 29ft + ft 

37ft X Coco Ip# 2JC 85 IX 34 33% 34 + % 

27 12% CoooLb 3 18 15ft 15ft + % 

20% 12% CoprTr *0 29 8 171 18% 18ft 18% + % 

24ft 15 Coopvls *0 17 17 1429 23% 22% 22% + % 

21% 11% CoowM *4 3* 2 T2ft 12ft 12ft 

27ft 19ft CpwUtpf 2*1 115 9 21% 21ft 11% 

27% 17% CanhlFO *4 35 14 IX X 24% 24ft— % 
15ft 10% Corwin 56 4* 12 27 12% 12% 12% 

<0 X ComGt 198 39 17 S29 38% 37% 38% + % 

« 22% CorBtk 1*0 29 48 45 44% 44ft + % 

77% 44% Cox Cm 94 5 9 4399 75% 75% 7Sft + % 

10 4ft crata a f% 9% 9%— % 

37 32 Cron* 140b 49 10 X33%33ft33%+% 

71% 37ft CtoyR* 15 6X 49% 48 48% +1% 

26% 14% CrockN *0 15 231 Xft 26% 26ft 

X 15ft CrckNpf 2.18 11* 3 Wft Wft 78ft 

X% 18% CltnoK IX 6* 9 15 11% 18% lift— % 

57% 34ft CrwrtOt 12 Ml 32ft 50ft 52 — ft 

44% 27% CrwZd IX 2* 14 3501 41% 41% 41% 

50% 43 CrZPIPf 4*3 V* 89 48% 48% 48ft— % 

65ft 50 CrZoi pfCAJO 79 9 41% 41 41ft + % 

27% Xft cutbre X 29 9 X 28ft 27% 27% —1% 

33% 14% Cultaetl 35 849 26% 25% 26% + % 

88% 41ft CipnEn 230 3* 3 230 42 60% 6Tft— ft 

10% 81A Currlnc l.iooii* I 10 10 10 

38ft 30ft CurfW IX 39 12 8 *1 30ft 30ft— ft 

52ft 27% Cvctops 1.18 29 10 10* *9% 4S% 49% +lft 


23% 13% Dallas X 39 9 X 18% 18% 18ft 

9ft DamenC X 21 291 18ft 9% 10ft— % 

30% 21% DanoCp IX 4J 8 13X 26% 26% 26% + % 
8% 5% Danohr 19 32 7% 7% 7% + % 

15 8% Denial .Hb 17 112 10% 10ft 10% 

95ft 71% DartKr 494 45 10 453 94% 93 94ft +1 


.15* 1* 2 a 

2JD 2* X 202 

225 29 1 

IX 75 8 3692 

X 2* 14 12 

7 19 

X 13 50 

360 97 51 

.» 13 f Q 

23 160 

* U 11 70 

5 1 

X 51 7 33 

20 2.1 16 159 

E. 1 MB 

1*4 5.1 B K 

X 2751 

' 10 

IX 49 10 147 

.16 1* 4187 

JD 4.1 6 476 

1*4 69 a a 

X 4J 15 32 17ft 

254 4* 9 1071 59% 

190 4* 12 97 36% 

2*0 77 12 63 26% 

*S 2073 4% 

47V22J X 30ft 

11 

X At 10 2723 19% 

X 3* 9 U4 22% 

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1-32 29 I 363 34% ■****■ ■+ •+ 


90% RIGHT 

HOLLYWOOD STARLET 

Die analysts at C.G.R. have outperformed the DOW by deciphering the rhythm 
of the “Power Elite” Our recommendations are not based solely on prosaic 
yardsticks. It is the acumen and wealth of Sponsors more than fractional earning 
variations that dictate stock prices. For stocks, like Hollywood Starlets, are "made", 
not “bom". 

The horrendous mistakes that institutions make in picking stocks, have been 
documented. At the third annual Institutional Investor Conference, professional 
money managers selected National Student Marketing as their favorite equity; five 
months later the stock plunged 9S?&, the company declared bankruptcy. 

Why are “Super-Pro" analysts myopic? Managers are mesmerized by 
Groupthink, by a herd psychology. A flagrant example of their mindless conformism 
was the craze on the part of Mutual Funds in the early 1960's, for the “Nifty-Fifty" 
growth equities commanding distorted Price-Earning levels, among them AVON, 
POLAROID and XEROX. Never before had so many analysts put so much money Into 
such few slocks with such total disregard forthe consequences of manic -de pressive 
behavior. 

AVON winkled from $140 to $20. POLAROID faded from $149 to $15. XEROX 
plunged to $27 from $170. Undervalued stocks lurk in the world of underanalyzed 
companies. A study conducted at a university tracked the performance of 64 stocks 
followed by 15 or more pundits and 64 embraced by only one sage. Their conclusion 
stirs cerebral juices. 

“There appears to be much greateropportunity forspeculative gain among securities 
dissected by few analysts', in re peabngthe fact that 90% of shares recommended by 
C.GJT. subsequently advanced, and that 92% of our carefully honed "short sales" 
eventually budded, we are not craving plaudits. 

We merely want readers to mock prevailing opinion, to buy into weakness, selling 
into strength. Our forthcoming letter discusses contrarian thinking, naming 
securities that could catapult to prominence. 

For your complimentary copy please write to, or telephone: 


CAPITAL 
BI GAINS 


: : ^ zf.T ■ ■ 


C.V.C. Capital Venture Consultants 
Amsterdam B.V. 

Katverstraat112 

1012 PK Amsterdam, The Netherlands 
Phone: (020) 2751 81 Telex:18536 


1 Name: V ] 

I 

j Address: _ | . j 1 

[_^ e J wwj 

Paal oerfonrance docs nrt guarantee faiure tesiite 


12 Month 
Htan Low Stack 


Dtv. YtalPE IBbHkrfi Low Qoot Ote I HWi Low Mode 


Sis. dost 

DM. YJd. PE KXhHtgh LowQuoLOrt* 


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54% 35ft Holiday IX 19 13 2704 53 

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77% 48% GEICO IX 19 II T71 75 74% 74% — % 

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47% 30% GnCarp IJ0b3*143 1002 45% 44% 44% - ft 

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65ft 49% GOFds X5D 4* TO 4B5 41% 61% 61% 

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16% 8% GdHcus 94 17 72 7 8M 9 

27% 15ft Gainst XI* 977 17 Mft 16% 

60ft 47% GdMlIb 294 42 X 1806 53 52 52% + ft 

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72 13 GMEn .19* J 731 64% 64% 64ft + % 

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12 9% GTFlpf 195 119 1868* lift 11% lift + ft 

■ft 4ft GcreOD 11 84 4% 4ft 4ft— Ml 

21% 13% GflRnd .10 * 26 186 Mft T6ft Mft— % 

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37ft 33 GaPcp4 224 62 2 Mft 36ft 36ft + ft 

37 32V. GaPpfB 29469 535%35%3S% + % 

28% 22% GaPwpf 2*4 1X4 16 27% 27% 27% + % 

30 25ft GaPwpl 876 129 17 S8 » 27H 

21% 17% GaPwpf 2*6 02 43 21 20% 21 +% 

23% 17 GaPwpl 2*2 1X1 13 20% 20ft 20% 

3ft 21% GaPwpf X75 10.9 20 25% 25% 25ft— ft 

a 51% GaPwpf 792 12* JTOz 42ft 42 62ft 4-ft 
30ft 20ft GcrtrPl 1.16 If 11 29929%29Vb29ft + ft 

23ft 12% GerbSt .12 * 11 297 15% I5ft 1 5% + % 
12ft Eft GKRlP W 11 VWk 10ft— % 

lift 5% GtarPfi 5 2S 10% Wft 10% + % 

27 . 16% GtffHUI X XI 22 Z13 24% 23ft 24% — ft 

62ft 42% Gillette 2*0 4* 11 326 40% 59% 60 — % 

17% lift GteaiC 5 12% 12% 12% 

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M% 29% Bearlnp IX 19 TO 


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30% 21% DomRS 272 9* 8 882 30% 27ft 30ft 

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57% 35% Donley 1.M 22 IS 238 54 53ft 53ft + ft 

35% 23% Dorsey IX 43 12 S3 Xft 27% 28 

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33ft 25% DawCh IX 6 * 11 2592 X 29ft 30 + % 

51% 36% DowJn .78 18 20 559 41% 40% 41% + ft 

13% 10ft Drava SO 4* 66 11% 11% 11% + ft 

23 15% Drear X 29 M 342 20 ft 20% 201b 

19% 14% DrexB 100 147 21 If 10% left— % 

Wft 23% Dreyfus *0 1* 12 Z77 47ft 47ft 47% — % 

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73% 59ft Outtppf EX 119 690* 73% 77 73ft + ft 

26ft 21% DvkDPf 2*9 109 16 26% 26% Mft 

34 a DukPPf X95 119 23 34 33% 34 + % 

75% 51% DunSrt XX 3* 21 817 72% 70% 72% +1% 

16% 11 % DuaLt 206 1X9 7 1331 Mft 15% 16 


76% +1% 32V. 19 Gotta! X 39 55 3633 21 20% 20ft— ' 

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3 1954 




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(Co ntin u e d on Page 12) 




a 

















V .’ >m ' - 

Vi- 





fleraUQS&rtbung , 

WEEKEND 


Page 9' 


urope, Without the Crowds 



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1 


,an American 
walked into 

Huntsman, the Savile Row tailors, 
and asked' to radar a bespoke smt 
<Hc was told fhat no more orders would be 
taken at least until October. A few days later, 
another American called a throwster resting 
rent in rural France to reserve a table for a 
weekend in July. He was told that they were 


JuOy booked 
< .&d 1 


J 1 


#afUkn>.fr. 

*«■■■».•.■ 

dftowyrtv. 'o r 

rtfrprwi:- !-.•■ 


jitera 


experiences will be the .norm in Ea- 
this susdmer. The strength of the dollar, 
'a slight recent sharp, has led travd 
'agents and tour operators to predict that six ' 
‘or even seven million Americans win cross 
'tbs Atlantic tins year, far more titan ever 
before. Inevitably, they will find the hotels 
lull, the mnseoms so crowded that they will 
■see only the backs of other Americans 11 
heads, transportation facilities overtaxed 
and the- Europeans a bat dazed by it afi. 

But the inyarion win bo-uneven;- same 
countries will be more crowded than others, 
‘some cities within a given country win be.' 
jcaore crowded than others, and some parts 
of a given city will bemrae crowded than 
-others. A mtib wiQ gather around the “Mena 
l^jj JLisa” in the Louvre every day,- but down- 
' stairs, the magnificent collection of artifacts 
'from Babylon andFersepoIis and elsewhere 
in the Mxodle'East wfll bcj deserted. So with 
■some forethought, it should stiflbe 

.answer ^s^aramer, and to avoid the 
sickening sensation of having traveled - far 
just tojotna Chicago rush-hour. 

: A first suggestion would be to stay away 
’freon the benoues, eroeriaSy in. August, when 
they are always mobbed by Europeans any- 
way. A second would be to thmlc about 


Umbria or The Marches instead of Toscany 
or jheVeneto, 

It wifl take some study and planning, but 
the time will be well spent. To start yon off, 
here arc a dozen suggestions: 

Moll 

This island, reached by ferry from Oban, 
guards the southwest approach to Scotland, 
a remote and austerely beautiful outpost of 
peak, moor, castle and loch. In May and 
June, the wildflowcrs bloom and the nights 
are never inky black. A lew months later, the 
hillsides are burnished m untnmimi gold. 
Mull wiQ be familiar to those who have 
followed David Balfour’s adventures in 
Robert Louis Stevenson's "Kidnapped”; his 
also spectacular walking country. The near- 
by island of Iona, where St CMumbaplant' 
ed the seed of Christianity in Scotland, has a 
12th-century abbey ana the graves of 48 
Scottish Hugs, i ncluding Dnrtran mnnrifi pHrf 
by Macbeth in 1040. 

Boats ply between Mull and Staffs, with 
its enormous black basaltic columns, rising 
from tius sea like organ pipes, and FtuapTs 
Cave, which was imm ortalized by Mendels- 
sohn- Tiroran. House at Trroran, which re- 
joices is a wild lochride rite beneath awe- 
some crags, has nine pretty rooms, 
dependably good food and and enough 
peace and quiet fat Sl Simeon StyBies. 


East Anglia 





ovalria arid 


Th* \r ter'?:** 

Kit* Tetri 


>r : -‘ 



Russia, : Yugodavia, 

Hungary all have much to offer,- especially if 
‘you do not insist on luxury accommodation. 

• Nowhere wfll the crowds be worse thanm 
London, Paris and the much beloved Italian 
trio of Rome, Florence and Venice. But there 
are . strategics for coping: In London, for 
example, yon might skip the National Gal- 
\ Jery and visit the mexplicahty uncrowded 
Oxotauld Institute GaBeries, which have 
.masterpieces by Manet and Gangnm and 
Cezanne; in Paris, jfsfim to forgetthe two- 
■ and three-star -restaurants mid concentrate 
on the neighborhood bistres; in Venice, you 
I can walk north from St Marie’s Square, 

leaving behind a miBion|HgBoiuand a half- 

. .. million people, and explore the smaller 
\ churches, with their Bellinis and Tintorettos, 

■' ’ in almost perfect traaqnflHty; 

Go to me Yorkshire Dales or the Darby- 
■ • ■ * 1 1 • shir e Peaks instead of the Lake District or 
l .. ' 2 .the Cotswdds, to the Auvergne instead of 

;• the Lc»ire, to Galicia instead oEAndahiria, to 

: ‘ ; ! ] '.Franconia instead of B3af& Jtorest; to 


Visiting the country houses, gardens and 
cathcdralsisonc of the enduring pleasures of 
a trip to England, but Chatsworth, Canter- 
bury, Ssringhmst and thortike are no fit 
tai^cfs for this summer. A trip through East 
An glia, the “thumb” that sticks out into the 
North Sea from the east coast, is Kkeiy to be 
much more rewarding. 

An itinerary mi ght fnrjmfe Cambridge, 
with King’s College Chapel, probably Brit- 
ain’s finest late-Godtic omWing, and the 
Backs, the shaded lawns along the 
River Cam, and the sptandid Fit 
MiwhwI| winch has fine Egyptian and 
Creek collections and major paintings; the 
Roman museum in Colchester Castle; burly 
By Cathedral, crowned by a wonderful oo- 
tagpual lantern datragfrom 1322; the bucol- 
ic “Constable country” around East Berg- 
holt; the half-timbered village of Lavenham, 
and a pan of memorable houses — Hdkbam 
HaLL, a PaHadian pm, and BKddmg, whose 
Jacobean facade is framed by masrive 
hedges. My wife and I Eke Shipdham Place, 
a relaxed little converted rectory with hearty 
cooking, not far from East Dereham; anoth- 
er good stopping place is Le Talbooth and its 
hotel annex.flut me best food in the region is 
at Weeks In out-of-the-way CHemsford, 



where the charming Ian and Sue Wedcs — he 
in the kitchen, she in the dining room — 
show how much skill and invention four 
hands can muster. 

The Finnish Lakes 

The Furnish combination of lakes and 
birch trees has, for me, an almost mystical 
1; it embodies the spirit of northern 
in the same way that the Tuscan 


combination, of bills and cedars embodies 
that of the south. There are mOTe than 60,000 
lakes in Finland, covering 9 percent of the 
country’s territory, and most of those are in 
the central region. 

You could make your headquarters near 
Hamcenlmna, at the recently renovated 
Rantasipi Anlanko, which lies within a na- 
tional park and prorides full facilities for 
swimming, golf, tennis, boating, riding, 
shooting and cycling, or at its sister hotel, the 
Rantasipi Laajavnori, near Jyvaskyia, a 


town that has several buildings designed by 
the great Alvar Aalto. Boots, including hy- 
drofoils and lake steamers, supplement a 
gpod road system in knitting together this 
paradise of cold, deep water and enigmatic 
green forests. Walk, ride the boats, take a 
sauna a day, admire the crispness of the 
architecture and of the products that the 
talented F inns design for thear everyday are 
Then, renewed, you might visit Savanfinxifl, 
winch lies to the northeast, not far from the 
Soviet border, and its mighty fortress of 


AmoU Roth, Km Mow Yorii Tma 


Olavinlinna. a moated medieval bastion that 
is unmatched in Scandinavia. Far three 
weeks in July, its central courtyard houses 
one of Europe’s better small opera festivals. 


Belgium 


Belgium needs a good press agent. Its 
churches and museums are crammed with 
the works erf native sous whom the whole 

Continued on page 11 



esz: Poet of the Everyday 


by Andy Gnmdberg 


N 


EW YORK — The view from 
Andrfc Kertfcsr’s 12th*-fioor apart- 





vetaty hi u*w Jiwuwu ntiM, mv "«»*>• 

Trade Center Towea marking its nm^omt 
From the kitchen window or a tiny terrace, 
Kfertfaz surveys New. Yoric through the glass 
of a telephoto lens, making pktines that are 
full of mtmwte, humaihscaled encounters 
-and unexpected visual delights. And it is 
from here, Us home for 34 years, that the 
photographer — oac rf the pioneers of pho- 
tojoarnAhsm and an in tern a tion all y ac- 
dairDfid master of small-camera lyricism — 
has turned the dross of ordinary Hfe into tbe 
gold of aesthetic pleasure • 

Stffl active at the age of 90, Kert&sz re- 
mains the “quinttssofial cofimopdite,” in 
the words trf tbe critic Holton Kramer. He 
has been recording urban life for more than 
half a century now, always through the 


warming filler of his own feelings. *T can’t 
touch a camera without expressing nxysdf ” 
he told a visitor to his apartment one after- 
noon, a touch of pride breaking through his 
cust o mary modesty. 

Kert&z, who is now acknowledged as one 
trf the great innovators of 20th-century pho- 
tography — comparable in stature to such 
American artists of tbe camera as Ansd 
Adams, Walker Evans and Edward Weston 
hg not^a ro cc wrfall the public atten- 

cotrective accolade: A retrospective exhibi- 
tion^ his nnwt important work will appear 
in December at the Metropolitan Museum 
of Art.- Co-organized by Weston Naef, to> 
meriy of tbe Metropolitan and now curator 
of photography at the Getty Museum, and 
David Travis, photography curator of tbe 
Art Institute of Qricago, Andrt Kertisz: Of 
Paris and New Yorir opens May 10 ax tbe 
_ iMuscran.T^auwwiIlbeonriew 
at the~MetropoIitan Dec. 19-Feb. 23, 1986. 
(In New York, the Susan Harder Gallery is 
presenting a small concurrent exhibition, of 


die photographer’s images of gardens, May 
1-June79.) 

The slowness with which wide public rec- 
ognition has crane to Kertfsz may be ex- 
plained by the nature of his work. He de- 
lights in tbe ephemeral, the incidental and 
quotidian, in the half-hidden gesture the 
brief blush of twilight, the juxtaposition of 
the new and the old. He honors such inci- 
dents, invisible to most of us most of the 
time, with his full attention. From his 
tuns we learn that beamy is not : 
solid, existing like stone to be stared at 
whenever we care to gaze, but instantaneous, 
fleeting, as mutable and fickle as tbe city 
itself. 


T 


HE photographs for which he is fam- 
ous are in blade and white, but reccnt- 
. W be has chosen to express himself in 
odor. Kert&z dabbled with color soon after 
tbe introduction erf 3Smfllimetcr Koda- 
chrome sBde film in 1936, but be was unhap- 


py with the results; only in 1978 did he begin 
to use color film for Us own purposes. At 
first he worked with a Polaroid SX-70 cam- 
era, which enabled him to see results on tbe 
spot. Last year, at the suggestion of another 
photographer, Charles Harbutt, he began 
experimenting again with Kodachrome. 
Within a matter ofmonths he amassed a new 
body of work. 

Kertesz's best pictures, in both color and 
black-atri-white, are filled with narrative 
suggestion, and with what John Szarkowslri, 
director of photography az the Museum of 
Modem Art, has called 6 a sense of the sweet- 
ness of life, a free and childlike pleasure in 
the beauty of the world and tbe preciousness 
of sight.* They are so fully framed and 
complete that verbal mubeffishmen t almost 
seems an intrusion- But while the artist’s new 
color pictures often mine the same subjects 
as his e ariiq r black-and-white photographs, 

Continued on page 10 


A Lost Liszt Is Found 
In the Musical Digs 


by Donal Henahan 






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A Kertesz view of Washington Square (New York, 1954). 


Chet Mondrian (Paris, 1926). 


N EW YORK — Weszem music is 
in an excavation period, a time 
when hunting for old manuscripts 
occupies the energy of a surpris- 
ing number of talented artists and musicolo- 
gists as well as legions of dust-sifting scho- 
lastics. The recent exhumation of 33 lost 
chorale preludes of Bach stirred the imagma- 
i tion of many people, aside from the musical 
I importance ot the find, simply because the 
1 idea of buried treasure fascinates us alL 
We avidly follow tbe detective work that 
results in the discovery of mislaid pages by 
Debussy or Verdi, of Strauss’ last song or of 
an entire opera by Donizetti (by ray New 
York Times colleague WE) Crutchfield). We 
speculate about wnat wonders may yet He 
undetected in libraries and opera house 
basements. No musicologist has yet crane 
upon the fabled 100 lost cantatas of Badi, 
which would rank with Heinrich Schlie- 
mana’s coup in unearthing the four layers of 
Troy, but in this age trf computerized schol- 
arship who knows what is possible. At any 
rate, serious fans of treasure hunting, fed 
from youth on Robert Louis Stevenson and 
; Poe, fed free to daydream. The lost Bach 
I cantatas are the Atlantis of muscology. 

Meanwhile, we must make do with more 
modest discoveries, such as the Liszt piano 
piece that Jeffrey Siegel was to play last 
jht at Carnegie Hall in its American debut, 
le woric, a large-scale paraphrase on 
themes from Verdi's “Emam," lay unpub- 
! ljshed in the Liszt archives at Weimar until 
j Alan Walker, the British musicologist and 
Liszt biographer, happened qd it He was 
impressed by its quality and prep a red a 
| perforating editiom Malcolm Trcaip gave the 
1 world premiere last year in Buenos Aires and 
“ sed gave the. first performance in Liszt’s 
native Hungary. You may recall that Walker 
and Siegel collaborated on a similar exhuma- 
tion four years ago when the pianist gave the 
world premiere here of a new version of 
Schumann’s Fantasy in C Walker had dis- 
covered a manuscript with a different end- 
ing, which Schumann had rejected in favor 
erf the standard version. 

. The Liszt piece, however, is not a torso or 
a stray page from a workbook. A complete 
work, it dates from 1847, when the composer 
! .was at the height of his fame as a virtuoso. It 
1 is based on two “EmanT themes: the chorus 
“Vedi come 3 boon vegfiardo” from Act 1 
and the celebrated baritone aria “Oh sommo 
Carlo pjudeltuo nome” from Act 3. Accord- 
ing to walker, “High pianism abounds. The 
‘EntanT paraphrase bristles with technical 
difficulties. Every page contains examples of 
those devil-may-care passages typical of the 
35-year-old Liszt reveling in his powers.” 

Well before this, tbe knowledgeable Liszt- 
ian will be expected to rise in protest What 
is new about an “ErnanT paraphrase by 
Liszt? Isn’t such a woric already hsted in all 
the standard references? Yes, but it turns oui 
that Liszt misplaced the 1847 score (the one 
that Siegel played) and, prodigal composer 
that he was, amply wrote another one, sub- 
stantially different from the origin aL 
It may have been nothing bat a common 


traveler’s problem: lost luggage. In June 
1847, Liszt bad embarked as a concert trip 
to Turkey, perhaps because by that time he 
was running out of exotic places to visit. 
(Anyone reading Liszt’s biography must be 
impi esscd at the ground the man managed to 
cover in a time when concert touring was not 
merely a matter of getting to and from a 
series of airports.) The wand’s most famous 
: had been invited to play at the Royal 
in Constantinople fra the Abdul 


Medjid Khan, a music-loving sultan who 
retained Giuseppe Donizetti, brother of tbe 



palace and was decorated by the sul 
the “diamond-encrusted” Order erf Nichan- 
Iftikhar. 


W ” E know that rt was in Constantino- 
ple that Liszt composed his first “Er- 
nani” paraphrase, because the 
manuscript is inscribed “Pera, June 1847 ” 
Pan l^in^me^naTO^of the frarign^quarter 

laies that it was Giuseppe DonizettFwho 
introduced Liszt to “ErnanT and that the 
Hungarian virtuoso may have played it fra 
the Turkish sultan's delight during his stay. 

When Liszt left Turkey in July he look 
along the “Emani” score. He must have 
intended to publish it since he had a fan- 
copy of the piece made, but somehow it 
never reacbed the printer. Eight years later, 
when he compiled nis first supposedly com- 
plete catalog of works, the mmairr para- 
phrase was not on the list, sure proof that the 

manuscript was not at hand, according to 
Walker. Most significantly, daring his last 
months in Weimar, shortly before he an- 
nounced his retirement from the concert 
stage, Liszt composed three paraphrases on 
Verdi operas, “ll Trovatore,” “Rigoletto” 
and “ETnani.” Walker believes it unEkely 
that he would have gone to the trouble of 
composing a second “Emam” if he had 
known the whereabouts of the original. 

It is not dear how or when tbe misplaced 
manuscript found its way to Weimar, but 
there it lay unrecognized for a century or 
more. In 1931, the Lisa archives published a 
comprehensive list Of its holdings which 
cited the work but the material on which it is 
based was described as “unknown” because 
Liszt’s manuscript did not identify the opera 
and the compiler did not recognize the 
themes. And now. will the original “ErnanT 
paraphrase be able to make Its way in the 
world along with Liszt's more familiar opera 
transactions snch as^ “Don Juan”? Or wD it 
rink quietly into obscurity like so many other 
happily heralded mnsicologbal finds once 
its novelty has worn off? 

The troth is, for afl onr fascination with 
excavations in the digs of musical history, 
few if any of snch finds can be expected to 
change oar understanding of the composer 
or of history itself. We certainly may hope 
that a masterwork will be unearthed, or a 
master's work ifimz&nated somewhat more 
brightly. As with most treasure hunts, the 
profit is largely illusory, bat no less worth 
pursuing fra that. jg 

® 1985 The New York Tima 




j 




Page 10 


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INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3. 1985 


TRAVEL 


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f0t£ MAYBE JUST, A 
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MY MASSIVE DEFICITS. 


Andre Kertesz 


the addition of color gives them an added 
level of complexity and beauty. 

“It is the new romanticism,” K£rt£sz says 
with conviction. 

If his portrait of New York seems to us 
today nostalgic and slightly bohemian, like 
the Greenwich Village of yore, it is because 
the photographer has always seen the city 
with the eyes of an unrepentant romantic. 
And if he long has preferred the Village to 
the rest of the city, it is perhaps because it 
reminds him most of Paris, his refuge of an 
earlier era. 

When the photographer, at 42, arrived in 
New York in 1936, be already had an estab- 
lished reputation in Europe. His first pic- 
tures were taken before World War I, in his 
native Hungary, but he began to attract wide 
attention after moving to Paris in 1925. In 10 
years there he created a document of the city 
that has few equals. He joined in the artistic 
circles of the time, haunting the Cafe du 
Ddzne and getting acquainted with the art- 
ists Piet Mondrian and Marc Chagall the 
Surrealist poet Paul Denote and the pub- 
lisher Luden Vogel To earn a living, he 
worked as a free-lance photojoumalist for 
illustrated magazines and newspapers in 
France, Germany and Britain, and m 1927 
he had his first one- man show. 

His pictures from his Paris days had an 
impact on subsequent photography that is 
difficult 10 overes timat e. Brassal, a fellow 
Hungarian tanigre with aspirations to be a 
sculptor, and Henri Cartier-Bresson, then a 
struggling painter, both found inspiration in 
Ktettez’s impromptu, candid style and de- 
rided to take up photography. Indeed, Bras- 
sal took his first pictures with a tiny plate 
camera borrowed from Kertesz and he soon 
followed Kerttez's lead in photographing 
Paris at night, capturing the '30s demimonde 
with intimacy and precision. Cartier-Bresson 
bought a Leica 35-millimeter camera shortly 
after Kertesz acquired one in 1928; since 


Continued from page 9 



Kertesz in 1967. w 

then, the master of the “decisive moment’' 
has called Andri Kerttez his “poetic 
source.” 

D ESPITE Kerttez’s renown in Europe, 
his arrival in the United States was 
less than remarkab le. As he remem- 
bers it, the photo agency that persuaded him 
to come to New York for a year of work wrat 
out of business not long after he arrived. Life 
magazine was uninterested in his pictures; 
according to Kertesz, an editor there told 
him, “Your pictures talk too much.” The 
Museum of Modem Art wanted to exhibi- 
tion of his innovative nude distortions, but 
asked him to remove the reflection of pubic 
hair. By the time he had earned enough 
money to return to Paris, war had broken out 
in Europe. He became an enemy alien, a 


MSANmLE.iNTDW, 
MRS.REA6AH CELE- 
BMIB?Tfe$IFDN6 
DOLLAR IN HER OBJN 
SPECIAL CUAY. 

/ HOUJMUCH 
j n tSTHAT? 

flU j, 


resident of a country in which he never 
intended to live. 

Kertesz accepted his fate and became a 
U. S. citizen.. Bnt out of his unhappiness at 
doing uninspiring assignments lor others 
came the urge to photograph New York 
purely and simply for himself. The images of 
the period — some of them recorded m the 
boots “Of New York” and “Washington 
Square," both published in 1975 — are in- 
valuable both as records of city life and as 
additions to Kertesz’s own poetic oeuvre. 
“People here don’t look at things in a roman- 
tic way," he says, “but I am looking always; 
looking back, and at the new things, too. I 
don’t give up." 

Kertesz had plenty of reason to give up. 
For more than half his 48 years in New York 
he lived in virtual obscurity — a misfortune 
that has colored his view of the art world 
with more than a trace of bitterness. Of his 
l flnU n s vr career as a commercial photogra- 
pher be says. “! was always a dilettante. I 
wanted to do what I wanted, the way I did in 

Europe.” However, since a one-man exhibi- 
tion at the Museum of Modem Art in 1964, 
his great contributions as an expressive pho- 
tographer have come to be increasingly rec- 
ognized. especially by those with an endur- 
ing affection for art 

His clastic images — amo ng them the 
portrait of a woman on a couch titled “Satir- 
ic Dancer” and a Cubist-inspired view of 
Mondrian’s studio — have entered the canon 
of photographic masterworks. This year his 
reputation in the United States will be fur- 
ther enhanced, not only by the retrospe cti ve 
of Chicago and the Metropolitan but also by 
shows in Jacksonville, Florida; Newport 
Beach, California, and Santa Fe. New Mexi- 
co. In addition, Abbeville Press will be pub- 
lishing a bode titled “Kertesz by Kerttez." 

Yet for all the recognition and honors, and 
despite his age, Kerttez continues to explore 
his medium of the last 70 years with an 
almost boyish curiosity. 

“I never give up," he says. “This is the only 
way to give some color to life." ■ 

© 1985 The New York Times 


Renewing Normandy’s Cooking 


>i v \ 


B EAUVRON-EN-AUGE France — 
There is a comer of Normandy, the 
land of Calvados, Camera ben and 
rider, that just can't hdp looking as 
though it is posing for a picture postcard. 
Rolling hills so green they make your eyes 
hurt. The proverbial lazy bow — black and 
white, brown and white, sometimes just 
brown — immobilized beneath an apple tree 
about to burst into flower. Classic metal 
milk cans standing elbow-to-elbow at the 
edge of driveways. The rural mailman pedal- 

Patriclv Wells 

mg about on a tattered bicycle, delivering 
bad news, good news and bills to half-tim- 
bered houses, where he will stop for a sip of 
Calvados, to chat about the price of milk, the 
winter’s frost damage, this year’s apple crop. 

It looks so good it could make one forget 
that so much of the Calvados produced to- 
day is little more than bland- tasting fire- 
water. The Camemben, sprayed with peni- 
cillin to make it age faster, is sold so young, 
so white, that much of it has little character. 
And who likes to think of all that rich, 
golden milk being transformed into a cooked 
out, ultra-pasteurized liquid? As for Norman 
restaurants, well their reputation has never 
been very hot 

It’s no surprise. Think food in Normandy, 
think butter, cream, duck and organ tneat< 
like tripe and andouiBette. Not exactly the 
way we want to eat today. 

But there is a group of young, dedicated 
and ambitious chefs working in Normandy 
today, men and women who know and care 
enough to search out the freshest, finest and 
healthiest foods of the region; people who, 
like the scenery, won’t let us down. 

Odile Engel chef at Le Part (TAnge, is one 
of them. Here in a charming, restored village 
of 276 inhabitants, in a war ming restaurant 
created in a rebuilt covered market, she of- 
fers a style of cooking that is at once person- 
al creative regional and inviting 
Each morning, she is up at dawn to hit the 
criie — or fish auction — in nearby Caen. 
Lately, the fishermen haven’t gone out be- 
cause of bad weather at sea, which sent chef 
Engel into a major tizzy. 

“I couldn't remember the name of the chef 
who committed suicide because the fish 
didn’t come — but I called one of my fish 
suppliers and told him if he didn't get me 
some fish quickly, he'd have one dead cli- 
ent," she explained one night last week, in 
reference to the tale of Vatel the 17th-centu- 
ry nuxltre d'hatel who was said to have com- 
mitted suicide when the fish failed to arrive 
fora banquet. 

Fortunately. Odile Engel’s wholesaler re- 
sponded, and to fend off disaster he drove to 
Brittany, where the fish supply was plentiful 


Thanks to the chefs tantrum, diners were 
able to feast on turbot in a just-right cider- 
vinegar sauce, meaty mussels in a delicate 
rider and cream sauce, thick filets of Saint- 
Pierre bathed in a light blend of tomato 
coulis and butter. 

Don't come here expecting classic, strati- 
fied, complicated sauces, photogenic past- 
ries or hand-carved baby vegetables. The 
chef says she likes to think of her food as 
home cooking, and though it's nothing like 
what most of us cook day in and day out at 
home, it has an unedited, homespun quality. 

The menu is strong on fish, but there’s also 
a fine assortment of meat and poultry dishes, 
a daily pastry or two (the fresh-from-the- 
oven lemon tart was exquisite) and a good 
regional cheese platter (try the mature pavfc 
d’Auge). There is also a marvelous selection 
of authentic farm Calvados. Sample either 
the David or Dupont label: Both are distilled 
the old-fashioned way. over a slow-burning 
wood fire. To purchase the Calvados to take 
home, ask at the restaurant for a “Route de 
Cidre” map with addresses of the best local 
farm rider and Calvados. 


TFr ITHTN the next few weeks. Nor- 
\\f mandy’s pear and apple blossoms 

T T wOl be at their peak. Tune for a 
bucolic drive and a snack at an honest-to- 
goodness country caft-tabac, a roadside 
thaiched-roof cottage known as Les Deux 
Tonneaus. The village of Pierrefilte-en- 
Auge. just outside the brand-name town of 
Font l’Evdque, has every thing the traveler in 
Normandy might want at this time of year. A 
smashing view, cows, fruit trees, a church 
and tiny cemetery, and a rooster that doesn't 
seem to be able to tell day from night; he just 
keeps crowing. 

Les Deux Tonneaux is all done up in red- 
and-whi te-checked curtains and oilcloth, 
and the home rider comes right from a giant 
keg in the wall behind the bar. The paper- 
thin crepes are good, especially if you love 
them soaked in Calvados. Another bouse 
snack, known as teurgoule, is a sort of bland, 
cinnamon-flavored rice pudding that is bet- 
ter left to lovers of nursery desserts. 


T HE best way to understand any re- 
gion of France is by visiting its daily 
markets, and some of the most ap- 
pealing in Normandy can be found in Saint- 
Pierre-sur-Dives (Monday), Dives-sur-Mer 


port of Trouville there is a marvelous Art 
Dteo brasserie that has been billed as the 
Brasserie Lipp of Normandy. If I were Gi- 
rard Bazire, the owner of Les Vapeurs, I'd 
take the comparison as an insult. The food at 
T « Vapeurs is infinitely better. 


Spots like this arc rare. Les Vapeurs is just 
a simple brasserie, but the owner cares about 
everything, from the flowers to the fresh ana 
flavorful baguettes, from the wine list to the 
humorous, colorful menu that sort of haw’ks 
dishes like a street peddler. Even the coffee- 
gets special attention. 

This is one of the few places I know you 
can get truly fresh shrimp — you'll sec them 
live at the market across the street, still 
jumping and squiggting. At Les Vapeurs 
they poach the tiny crevettes srises in salt 
water and sprinkle them with lots of pepper. 
The shrimp are served piping hot. ready to 
be eaten with superb local butter, those tasty 
baguettes, and a few sips of chilled Museadet 
sw lie. The offerings of fish and shellfish 
change according to season and the catch of 
the day, but the grilled sole is so fresh and 
full-flavored you will think they have discov- 
ered a new species, and even the rather 
maligned carrelet, or European flounder, 
reaches new heights, dusted classically with < 
flour and pan-fned d la meuni&re, in butter. 

The local cheese selection is nice, includ- 
ing a fine Lauquetot Camembert, and Lc-" 
peudrie Pont L’Evdque from nearby Tourge- . 
ville. 

The stern-faced waitresses may give you a 
hard time, but the bark. is worse that the bite, 
and besides, this is such a great spot for 
people- watching it could almost get away 
with charging admission. In short, Les Va- 
peurs is the kind of place one could imagine ’ 
going back to time and time again to try all 
those good-looking dishes — the plaueis of ‘ 
oysters, the golden frites and steaks grilled 
over a wood fire, the vrai saudsson de Mor- 
tem t. even the simple omelets — that neigh- . 
boring diners are consuming with relish. 


two weeks in December and two weeks in 
January. Credit cards: American Express, • 
Visa. Menus ax 110 and 1 55 francs, not includ- 
ing wine or service. A la carte from ISO to 200 
francs a person. 

Auberge Les Deux Tonneaux, Pierrefitte - ~ 
en-Auge, (on D280a, Jua off D48. southeast of 
Pont rEviauef. let (31) 64.09.31. Service until 1 
S P.M. Closed Monday and in September. 
(Note: Exceptionally, die restaurant will be 
closed May 11 ana 12.) About 25 francs a ’. 
person for" a snack, SO to 75 francs for a Tight 
meal 

Les Vapeurs, 160 Boulevard Fernand- 
Moureaux. 14360 Trowille-sur-Mer; tel: (31) 
88.15.24. Closed Tuesday and Wednesday ’ 
[except on holidays), Nov. 15 to Dec. 4 and 
Jan. 5 to Feb. 5. No credit cards ar checks. J 
From 100 to 200 francs a person, including 
wine and service. ■ 




VIENNAKcinzerthaus(iel:72.I2.1 1). 
CONCERTS— Mav 16: Vienna Phil- 
harmonic. Loren Nfaazd conductor, 
Wolfgang Schulz flute (Bach, Bruck- 
ner). 

May 17 and 19 : The Soviet State Sym- 
phony Orchestra. Jewgenij Swetlano v 
conductor. Valerij Klimov violin 
(Glinka. Tchaikovsky). 

May 20 and 21: Alan Berg QuarteU 
(RaveL Schubert). 

May 22: Royal Philharmonic Orches- 
tra. Yehudi Menuhin conductor and 
violin (Bach. Elgar, Brahms). 

May 31: Vienna Chamber orchestra, 
Philippe En Ircmon i conductor! Bach). 
RECITALS— Mav 18: Peter Schraer 


tenor, Hans- Joachim Erhard organ 
(Bach). 

May 27: Murray Perahia piano (Bach. 
Beethoven). 

May 30: AndrasSchiff piano (Bach). 

DENMARK 


COPENHAGEN, Tivoli HaH (tel: 
14. 17.65). 

CONCERTS— Tivoli Symphony Or- 
chestra — May 3: John Frandsen con- 
ductor (Brahms! 

M a y. 7: Inge Fabliaus conductor (Vi- 

May 16: John Frandsen conductor, 
Yuzuko Horigome violin (Bach, Mo- 
zart). 

May 23: Per Enevold conductor (Han- 
del). 


MAY CALENDAR 


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May 30: Walter Weller conductor. 
Hiro Kurossaki violin (Bruckner, 
Strauss). 

JAZZ — May 22: Papa Bues Viking 
Jazz Band. 


ENGLAND 

LONDON, Barbican Art Gallery — 
May 10- June 30:“American Images" 
Photography 1945-1980." 

Barbican Hall — London Symphony 
Orchestra — May 2: Geoffrey Simon 
conductor (Tchaikovsky). 

May 4: Paul McRae conductor 
(Supp6, Schubert). 

May 16, 19. 23: Myung Whun Chung 
conductor (Beethoven. Prokofiev). 
May 3: Gty of London Sinfonia. Lio- 
nel Friend conductor (Mozart). 

May 17: London Concert Orchestra, 
B ram well Tovey conductor (Gersh- 
win. Copland). 

May 18: Dallas Symphony Orchestra, 
Eduardo Mata conductor (Ponce, 
Mahler). 

JAZZ — May 24 and 25: Preservation 
Hall Jazz Band. 


speare). 

May 10, 11, 13, 14, 15,22,23: “Henry 
V” (Shakespeare). 

May 20. 21, 27. 28: “Richard AT 
(Shakespeare). 

•London Coliseum (teL 836 J3 1.6 IV 
OPERA— May 4, 10, 16.22.25: “The 
Marriage of Figaro" (Mozart). 

May 8 and 11: “The Bartered Bride" 
(Smetana). 

May9. 14, 17.23: “MadamaBunefly" 
(Pnccuu). 

May 3 1 : “Aida” (Verdi). 

•Royal Academy of Arts (tel: 
734.90 -52V 

EXHIBITION — To July 14: "Ed- 
ward Lear. 1812-1888." 

•Royal Albert Hall ( tel: 446.68J58). 
CONCERT— May 13: BBC Sympho- 
ny Orchestra. Sir Cotin Davis, Sir 
Georg Sold conductor (Beethoven. El- 
gar). 

•Royal Festival Hall (td: 928J1.91V 
CONCERT— May 21: Philharmonic 
Orchestra, Andrew Davis conductor, 
Shlomo Mintz violin (Copland, Rach- 
maninov). 

RECITAL — May 29: Murray Perahia 
piano (Bach, Chopin). 

•Royal Operaftel: 240.10.66). 
BAlXET— May 3. 1 1. 13. 14, 16, 18: 
“Swan Lake” (Tchaikovsky). 

May 6 and 1 1 : “The Sleeping Beauty” 


May 9 and 15: “Les Sylphides" (Mik- 
hail Fokinc). 

OPERA— May 4 and 7: “Andrea Ch6- 
nier” (Giordano). 

May 8 and 10: “King Priam” (Tippett). 
Mav 17, 22. 25.zOl : “Samson et Da- 
lila* (Saint Safins). 

May 24, 27. 30: “La Boh&ne” (Pucti- 
ni). 

•Tate Gallery (tel: 821.13.13). 
EXHIBITIONS — To June 2: “The 
Political Paintings of Meriyn Evans 
(1910-1973). 

May 22 — August IS: "Paintings by 
Frauds Bacon: 1944 to Present-^ 
•Victoria and Albert Museum (td: 
589.63.71V 

EXHIBITIONS — To June 9: “The 
People and Places of Constantinople: 
watercolours by Amadeo, Count Pre- 
ziosi(lSI6-1882).- 
To June 9: “Mouton Rothschild: 
pain tings for labels." 

To October 22: “Textiles from the 
Wellcome Collection: and cm and 
modern textiles from the Near East 
and Peru.” 

May 15-September IS: “Louis Vuit- 
ton: A Journey through Time." 
•WigmoreHaU (teL 935.21.41). 
RECITALS — May 7: Julian Jacob- 
son oiano (Bent, Schumann). 


*Musee d'Art Moderne (tel: 

FRANCE 723.6127V 

EXHIBITION — To July 8: “Marc 

NICE. Acropolis (td: 92.80.05V Riboud.” 

CONCERTS — May 1 0- 1 2: Nice Phil- *Mus«de !a Marine (td: 553.31.70). 
harmonic Orchestra. Berislav Klobu- EXHIBITION — To May 15: “50 


NICE, Acropolis (td: 92.80.05V 
CONCERTS — May 1 0- 1 2: Nice Phil- 


car conductor (Beethoven j. 


Years Ago. 'Normandie'." 


OF SPEOAL INTEREST 



Lorin MaazeL 


BRIGHTON FESTIVAL 


BRIGHTON — This English 
sea-ride resort town launches 
its festival an May 3. Events 
continue through May 26 and 
include: 

CONCERTS — May 4: 
Bournemouth Symphony Or- 
chestra, Arthur Davison con- 
ductor (Tchaikovsky). 

May 10: Royal Philharmonic 
Orchestra, Yuri Tenurkanov 
conductor, John Lill piano 
(Prokofiev). 

May 12: BBC Symphony Or- 
chestra. Oliver Knussen con- 
ductor (Stravinsky). 

May 17: P hiThar monia Orches- 
tra. Carlo Maria Graliui con- 
ductor, Anne Evans soprano 
(Beethoven). 

May 25: Brighton Youth Or- 
chestra, David Gray conductor. 
John Pigneguy horn (Bach. 
Rossini). 

May 26: BBC Symphony Qr- 


DE 22 h. 30 A L AUHE " 

i PACHA CLUB 


J0URNEESSEM1NAIRES 

2D0fTTC 


McLeUao guitar duo (Scarlatti. Han- 
del). 

May 15: Martino Tuimo piano (Sctau- 
ben). 


'EXHIBITION — May 4- June 25: 
“Baie des Arts." 

PARIS, Centre Georges Pompidou 
(tel: 277.I233V 

EXHIBITIONS — To May 10: “Im- 
age and Science." 

To May 27: “Fernando Fessas, poet: 
1888-1935." 

■Espace Cardin (teL 266.17 JO). 
EXHIBITION —To May 12: “Sho- 
gun." 

•Galerie Claude- Bernard (td: 326. 
97.07). 

EXHIBITION— To May 25: “Draw- 
ings by Alberto Giacometti." 
•Galerie Karl-Flinker (tel: 325. 

EXHIBITION — To May 3 1 : “Paul 
Kibe: The Last Ten Years. 

•Le Petit Journal (id: 326 J8 J9V 
JAZZ — May 6: Alligator Jazz Band. 
May8. 15,22: Watergate Seven +One. 
May 14: Benny Waters Quartet -f Pau- 
la Jounlan. 

May 21 : Memphis Slim. 

•Le Pigeon Bleu (teL 633-24391 
JAZZ — May 7-1 1 : Pa lice Authier trio. 
May 24 and 25: Jean Micbel Bernard 
Quartet. 

•Maison de Victor Hugo (272. 16.65). 
EXHIBITION — To June29“Le Voy- 
age du Wiin " 

•Musfe Bourdelle (tel: 548.67.27). 
EXHIBITION— To May 16: “Bronze 
M ini lia lures." 


chestra, Lorin Maazel conduc- 
tor (Berlioz, Debussy). 
EXHIBITION — To June 30: 
“Comedy Characters: Hade- 
quin, Punch and Pierrot in En- 
gland." 

JAZZ — May 5 and 8: The 

John Burch Octet- 

May 12: Berkshire Youth Jazz 

Orchestra. 

OPERA — May 23: “Pagliacd" 
(Leoncavallo). 

RECITALS — May 7: Paco 
Pena guitar (flamenco). 

May 9: Lends Lev piano (Pro- 
kofiev). 

May 14: Philip Norman organ 
(Bach). 

May 21: Mary ChappeQe so- 
prano, Kenneth Cleveland pi- 
ano, Nicholas Cox clarinet 
(Schubert). 

For further information tel: 
68.21.27. 


•Mus&e de Montmartre (tel: 
606.61.11V 

EXHIBITION — Through June: 
“Montmartre, its origins, its famous 
residents." 

• Mus6e du Grand Palais (tel: 
261.54.10). 

EXHIBITION — May 16-SepL 2: 
“Renoir." 

•Mus6edu Petit PalaisfteL 265. 12.73). 
EXHIBITION — To June 30: “James 
TissoL 1836-1902." 

•Mus£e Marroottan (td: 224.07.02). 
EXHIBITION — To June 2: “Dun- 
pyerdeSegonznc." 

•New Morning (td: 523 Jl. 41V 
JAZZ — May 10 and 1 1 : Zaka Percus- 
sioa. 

May 1 5: Jimmy Witherspoon. 
•Th££trc de Paris Blanche (tel: 
874.10.75). 

DANCE — May 21-25: F. Raffinot 
Dance Company. 

•Thfcfltre du Rond Point (lei: 
704.74.87). 

RECITALS — May 5: Malcolm 
Frager piano (Beethoven). 

May ll: Patrice Fantanarosa violin. 
Bruno Rigutio piano (Beethoven. Mo- 
zart). 

May 26: Daria Hovora piano. Alain 
Moglia violin, Etienne Pectard cello 
(Ravei, Schumann). 

SAINT- PAULrde-VENCE, Fouda- 
tion Maeght(td: 328J63V 
EXHIBITION — To May 16: “Piet 
Mondrian." 


GERMANY 


BERLIN. Deutsche Oper (tel: 
341 44 49) 

OPERA— May 3 and 5: “Don Carlos" 
(VerdiV 

May 7 and 3 1: “II Trovatore" (Verdi). 
May 8: “Fiddio" (Beethoven V 
May 9: “Salome" (Strauss). 

May 14:“Manou Lescaut" (Puccini). 
May 16, 19. 26. 28: “Peflfcis et Mfcti- 
sande" (Debussy). 

May 18: “LaTosca" (Puccini). 

May 22: “La Bohfane” Puccini). 

May 23, 25, 29: “Boris Godunov" 
(Mussorgsky). 

•Schioss Chariot tenburg (tel: 

3201-1). 

EXHIBITION — To May 25: “An- 
toine Watteau.” 

COLOGNE. StaieOpera(td:2076-l). 
OPERA — May 6, 10. 26: “Madame 
Butterfly" (Puccni). 

May 19, 22. 25. 27:“Don Giovanni” 
(Mozart). 

FRANKFURT. Alte Oper Frankfurt 
(td: I34.04JW). 

CONCERTS — Mav 12 and 13: 
Frankfurt Opera and Museum Or- 
chestra, Michad Giden conductor 
(Haydn). 

May 23 and 24: Frankfort Radio Sym- 
phony Orchestra, Eliagu Inbal con- 
ductor, Siegfried Palm cello (Brndr- 
ner, Medek). 

May 30: Frankfurt Radio Symphony 
Orchestra, Mkhri Plasscm conanctor 
(Berlioz, Weber). 

May 31: New York Philharmonic Or- 
chestra. Zubin Mehta conductor 
(Mahler). 

RECITALS — May 4: Shlomo Mintz 
violin, Patti Ostrovsky piano (Bach, 
Schumann). 

May 11: Christoph Eschenbach. Jus- 
tus Frantz piano (Mozart, Schubert). 
May 30: Yosa Gntmann viola, Theres 
Hess piano (Bach). 

MUNICH, Gfirtnerptafz State The- 
aier(td: 201.67.67). 

MUSICAL— May 7, 10, 12, 15: “My 
Fair Lady" (Loner, LoeweV 
OPERA — May 8 and 14: “La Bo- 
b6me"(Pnccim). 

May ] I and 16: “Die ZauberflOte" 
(Mozart). 


OPERA— May 14, 16. 19.21.24,26: 
“Faust" (Gounod). 

CONCERTS — Gty of Birmingham 
Symphony Orchestra — May 25: Si- 
mon Railfeconductor. Yo-Yo Ma vio- 
lin (Dvorak, Debussy). 

May 30 and 31: Jean Foraet conduc- 
tor. Erick Friedman violin (Beetbo- . 
venV - 

FERRARA. Palazzo dd Diamanti(td: 
35017V 

EXHIBITION — To June 15: “Joan 
Mira.” 

GENOA. Tcntro Cumunale ddl'O- 
pera(td: 589329V 

OPERA — May 23. 26. 29: “Ptnoc- 
chio" (Linda Brunet taV 
May 24, 28, 30: “Petite Messe Solen- 
nelle" (Gioacchino Rossini). 

MILAN. Teatro alia Scata (tel: 
80.9136V 

BALLET— May7, 14.16, 17:“Romco 


OPERETTA — May 4. 9. 19. 26. 28: 
“The Beggar Student” (MHlOcker). 
•National theater (id: 22.13.16). 
OPERA — May 3: “Cannen" (Bizet). 
May 4: “Eugene Onegin” (Tchaikov- 
sky). 

May 6: *Tosca”(Pucdiri). 

May 7 and 1 1: “Elektra" (Strauss). 
May 10: “Ariadne auf Naxos” 
(ScraussV 

May 13: “Salome" (Strauss). 

May 14 and 18: “Tannhfluser” (Wag- 
uer). 

May 21 and 24: “Don Pasquale" (Don- 
izetti). 

May 22. 25. 28: “OteHo” (VerdO- 
May 26 and 29: “LaTraviata” (VerdiV 

HONGKONG 


HONG KONG. City Hall Concert 
Hall (tel: 790.7531V 
CONCERTS — Hong Kong Philhar- 
monic Orchestra — May 4: Maxim 
Shostakovich conductor, Rudolf Dir- 
kusny piano (Brahms, Stravinsky V 
May 17 and 18: Maxim Shostakovich 
conductor. FouT song piano (Chopin, 
Shostakovich). 

•Tsuen Wan Town Hall (tel: 
790.752 1> 

CONCERTS — April 10 and 1 1 : Hong 
Kong Philharmonic Orchestra, Max- 
im Shostakovich conductor. Choi 
Sown Lee piano (Tchaikovsky). 


BALLET— May 7, 14.16, 17:“Romco 
and Juliet" (Prokofiev). 

CONCERTS — May 20: La Scab 
Philharmonic Orchestra, Seiji Ozawa 
conducter(StravinskiV 

ny (Orchestra, Simon Ra^randoctor, 
Yo-Yo Ma cello (Dvortik. Debussy). 
OPERA — May 15, 21. 26, 28. 29: 
“Macbeth" (VerdiV 
TURIN. Royal Palace (td: 839.8S.02V 
EXHIBITION— To May 22: “Court- 
ly Life in Rajasthan Seen Through In- 
dian Miniature Paintings from the 
XVII to XIX Centuries." 

VENICE, Ca’Vendramin Calergi (td: 
70.99-09). 

EXHIBITION— To May 19: “Figu- 
rative Japanese An: 1873-1964." 

JAPAN 

TOKYO, Banka Kaikan Hall (td: 
82821.11). 

Matsuyama Ballet Company — May 
4: “Swan Lake" (Tchaikovsky). 

May 5: “Giseflc rf (Adam). 

•Idemitsu Ait GaUeiy(td: 21 32 128V 
EXHIBITION — To June 2: “Turkey: 
Land of Cmhsanons.” 

•Japan Folk Craft Museum (td: 

467.4527V 

EXHIBITION — To June 23: “Crafts 
of North- Eastern Districts." 
•National Museum of Modem Art 
(ud: 21425.61V 

EXHIBITION — To Mav 6: “Shiko 
Munakata." 

•National Museum of Western Art 
(tel: 828 J 1.31). 

EXHIBITION —To May 26: “Poin- 
tillism.” 

•Sdbu Museum (td: 981.01.11). 
EXHIBITION — To May 12: “Leo- 
nardo da Vinci Nature Studies.” 
•Tobacco and Salt Museum (teL 
47620.41V 

EXHIBITION — To May 6: “Japan a 
Hundred Years Ago." 

•Yamatane Museum (id: 669. 4036V 
EXHIBITION— To May 10: “Con- 
temporary Japanese Painting." 

NETHERLANDS 

AMSTERDAM, Stadsschouwburg 
(tel:2423.1lv 

BALLET — May 24-3 1 : The Nether- 
lands National Bailer (“Three Pieces," 
“Niemandsland"). 

SCOTLAND 


ITALY 


BOLOGNA Galleria d’Arte Mo- 
dona (td: 50.2839). 

EXHIBITIONS —To May 20; “Tul- 
lio Peri cob,” “Roberto Bami.” 
•Teatro Comunale di Bologna (td: 
2229.99V 


GLASGOW 

Mayfair Ballroom (td: 33238.72V 
JAZZ — May 14: Chicago Blues. 
■Mitchell Theater (id: 55239.6 IV 
DANCE— May 16-18: The Jodi Hall 
Dancers. 

•Tran Theater (tel: 552.42.67). 
THEATER— Mav 14-16: “In theBd- 
ly of the Beast” (Abbott V 


SPAIN 

BARCELONA CenuodeEstudiosde 
Ane Contempor&neo (td: 329.19.08V 

EXHIBITION — To May 1 9: “Antho- 
ny Caro." 


MADRID, Bibltouca National (td: 
435.40.03V 

EXHIBITION — Through May: • 
“Frida Kahkt. Manuel Alvarez Bravo _ 
and Vicente Rqjo." 

•Fundacion Joan Mir6 (tel: 
329.I9.I6V 

EXHIBITION — TO May 5: “Antho- -y 

nyCaro” - ' V* 

RECITALS — May 6: Alma Pet- . 
cheraky piano (Liszt, Prokofiev). 

May 1 3: Juan Llinares violin. Frantisr 
co Salanova oboe, Perfecto Garcia 
Chornet piano (Badi, HanddV 
Mav 20: Joaquin Patomarcs violin. ' 
Perfecto Garda Chornet piano (Bach, 

HanddV 

May 27: Alberto G6ma piano (De- 
bussy. Mendelssohn) 

•Fnndaci6n Juan March (tel: 
435.42.40V 

EXHIBITION — Through May: 
“Russian Vanguaidism." 

•Museo Municipal (td: 22237.32V 
EXHIBITION — Through May: “Los 
Madrazo” 

•Pasco de la Caatdlana (ul: 419: ~ 
04.40). 

EXHIBITION — Through May: . 
“Ri char d Hamilton." 

•Palacios de VeUzauczy Crista] (td: 
274.77.75V 

EXHIBITION— May 6-31: “Spanish * 
Sculpture: 1900-1936." 

•Tea trode la Zatznelaftel: 429.1236). - 
OPERA — May 21, 24. 26, 29, 31: 

“Don Carlo" (VerdiV 
•Teatro Real (td: 24825.05V 
COHCERTS — May 30 and 31 : Dallas * 
Symphpy Orchestra, Eduardo Mata . 
conductor (Bartok, Mahler). 


BERN, Muste des Bcaux-Arts ' 
(td22.09.44V 

EXHIBITION — To May 19: “Ca- . 
miHe Qaodd and Aoguste Rodim” 
GENEVA Petit Palais (td: 46. 1433). " 
EXHIBITION — To June 15: “Mated ; 
Lcpim and Moomartre." 

LUGANO, Palazzo dd Congressi (td: • 

ea ai 


58.9123). 

CONCERTS — The Swiss- Italian Ra- 
dio and Television Orchestra — May _ 
10: Francis Travis conductor (Rossi- 
uiTl 

May 17: Bruno Amaducci conductor ; 
(Gounod. Verdi). i 

May 30: MOtiades Caridis conductor 
(Schumann. Dvorak). 

May 8: Academy of SL Marin in the . 
Fields, Iona Brown conductor (Han- 
del. Scarlatti). 

May 20: Royal Philharmonic Orcbes- 
tra of London, Yehudi Menuhin con- " 
ductor(Elgar, Beethoven). 

May 23: Vienna Symphony Orchestra, 
Georges Prfttie conductor (Brahms, 
Strauss). 

ZURICH, Opemhaus (td: 2513920V ■ 

OPERA — May 16, 19. 27: "Carmen" 
(Bizet). 

May 25: “Tosca" (Puccini). 

•Tonhalleftd: 22122.83V 

CONCERTS — Tonhalle Orchestra- 1 
— May 7-10: Ferdinand Leimercon- , 
ducior (Mendelssohn, Strauss V 
May IS: Cristobal Halffter conductor • 
(Bach. Mozart V 

May 21-23: Christoph Eschenbach ' 

conductor (BeethovenV 

May 24: Zurich Chamber Orchestra, . 

Edmond de Stoutz conductor (Haydn, 

Tc haiko vsky). 

RECITAL — May 5: Shlomo Mintz 
violin. Paul Ostrovsky piano (Bach," 
Schubert). 

May 8: Rainer Wolten violin. Jhrg . 
H a ro dmann piano (Mozart). 

May IS: Elena Szirmainunncnefans- 




May 19: Claude Starck cello, Domi- ™ 
rnque Standi guitar (Bach. Vivaldi). . 

...... '• * 6^ 

WHTB > STATES 

p^ORX^ggrobdm Museum ^ 

EX HI BITONS — To May 12: 

"Eduardo Chillida." ■■ *? s 

To June 16: "Gilbert &George.’* f - 

87035.70) 

r' 1 Throu Sli June 23: He*. . h .. , 

York City Ballet. 


i! 






INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 


Page 11 



for fun and profit 


m 

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« .... . « 



OiHV 1 '<* '.''Hi 


by Roger Coffis 



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2 * 


International Air Transport As- 
tiation is an organization that air 
travelers love to . hale. It’s that 
price-fixing cartel that protects in- 
gfi ciefit s tate-owned airixaes from free mar- 
ket competition through egregious revenue 
imd capacity sharing agreements. IATA is 
iherefcsre responsible for high air fares, espe- 
cially m Europe. With strong imtiatrvwior 
deregulation by the European Commission, 

the u.S, example and the British 
governments, isn't it about ti me 


ted 




fucfc-f i . 
fA-ftl* ' ■ 




• «.■ 




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tt.1 Hi!: .-. 

hr hz:i 

* « 

fclffii*.-;..* 

td 

an.*. .. 

fcWfi lt-v.r- 

hfcfl tr.ij- j.. . 

#t fot r • ... , -! . -* * 

Nt v . ”' ~ 


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*•** 
r- 


that a sdf-rtrving cartd lost -its antitrust 
immunity? v 

This is a. fashionable argument rfa»t con- 
tuns an demerit of sound reasoning, batifs 
not the whale stay. .As Graham Greene once 
^taid, life isn’t blade and white, it’s black and 
^ray. IATA has been its own worst enemy by 
Tailing ip get acrora to the consumer tha t 
governments decide which anfaw fly oh 
which routes, thus controlling both entry 
and capacity. Tbis goes back to the Chicago 
Convention in 1945 which resulted in bilat- 
eral agreements between nations (today 
there areT3,000 bilaterals between 200 coun- 
tries involving 16,000 airports) and delegat- 
ing to their carriers, through IATA, the task 
of forging a system of multilateral tariff 
agreements within this wd> of bflalexals, 
subject to ultimate government approvals. 
Thus came about the so-called IATA cartd. 


of Understanding.” It has had faraadring 
consequences. 

There has been partial deregulation on the 
North Atlantic, with the result that charter 
traffic has declined from 30 percent of die 
market in the late 1970s to 10 percent today. 
And the “zones of freedom,” or ‘‘tariff 
zones” concept has been adopted in the 
European Connmssion’s deregulation for- 
mula (Memorandum 2) introduced last year. 
Some 20 nations have entered into more 
liberal bflateal agreements with the United 
States on the Atlantic, Pacific and in the 
Americas. QAere are 25 U. SL bflateralscom- 
ing up far ducossicm soot.) These provide in 
varying degrees for multiple entry of carri- 
ers, no capacity restr ain ts and “rules of ori- 
gin” (other country can set fores without 
approval of the other) ra^double disapprove 
ar<a price can.be thwarted only if both 
gover n ments disapprove fry Historically, bi- 
laterals have been on a “double approval” 
basis, whereby both rides have to agree be- 
fore a new mice can be introduced. 

By 1979 n was dear that IATA’s system of 
unanimous agreement wi th i n tariff confer- 
. eaces had become unworkable: “Trying to 
get everybody to agree to.evaytUng became 

an nriin in i O ia rivft nightmare,” T i rt ra tm soyg 

“IATA had to change or go under.” There 


However, some go v e rn ments are getting 
^more involved in actual tariff . 


hm 

ft 2L' 

fir. 

• f.ftl.io,! . ..... 

m* V . •* 

M 

4 . 0*2 1 : 




■k 






to Ofinter Eser, a Lnfthansa vet- 
eraa who became IATA’s new director-gen- 
eral in Jammy. m the recent British-Dutdi 
and British-West German bDaterab, “foe 
governments agreed on certain, conditions 
and fares and the azxfines just had to accept 
h-lxememberihatvfomTtitaraandGdina- 
ny agreed on new faxes and tariff zones last 
December, we at I^rfthama were not even 
asked.” : 

Moreover, tariff setting is only foe conten- 
tious tip of a very huge iceberg. About 80 
percent of IATA’s activities are reported to 
be concerned with such worthy things is. 
interline agreements that enable a traveler to 
purchase a ticket in one currency and trans- 
_ fer with baggage across any network in the 
^ world, engineering cooperation, {nlot tram- 


Tariff setting 
is only the tip 
of a big iceberg 


for. 


m 



dares. Accarfong to < 
tor of govenmxrit and indostiy affairs for 
IATA, at any one time the cnginizatioii 
about 130 committees, each typically con- 
sisting of experts from 20 airlines working on 
everything from safety procedures to Sag- 
gage handling. About S2Q billion a year (ti 
interline payments are seeded through, the 
IATA clearing system. It is arguable whether 
symbiotic cooperation like this, between 
competitors violates antitrust rules. But it 
must help toward airfare efficiency and cer- 
tainly *T»»kg« life easier for foe traveling 
public. ' 

Eser has plans to extend this kind of 
cooperation. He says that IATA is fomking 
of.investing SSOO miBkm in; a^icutral com- . 
puterized reservations sy^em for members. 
And' that as Vrtsuhrot insutatice-rate in- ' 
creates of 50 fo lOO percent in 1984 IATA 
win grt into the renaurance business by 
activating two of its own entities in Bermu- 
da. Eser also talks cf raising $2 million 
through IATA foundations to finance tram- 
ingprograms for the pereound of developing 
zutaaor airlines. These make 19 about & 
thinl of IATA’s 135 members. 


were singly too many divergent interests in 
different parts of the wodd, competitive air- 
lines and nbanil governments were trying to 
force tariffs down and the introduction of 
wide-bodied aircraft had produced a cascade 
j wy ivY ripnqi fare s. 

In 1980 IATA membership was split into 
two categories, trade association and tariff 
coordination, participation in foe latter no 
longer being compulsory. (Twenty-seven air- 
lines have chosen this option.) A majority 
role system was introduced in tariff discus- 
sions, which are now divided into 57 route 
areas. Tins afos it «»iw to achieve partial 
agreements between airlines. Says one air- 
line official: “It’s posable for one carrier 
bom a country to be left out if it doesn't 
agree and at foesame time observe therest of 
the package.” Several small and regional 
airlines have now joined IATA arid U. & 
ahfines, hire Fan Am, who left IATA in 
about 1978, have now returned. Interesting- 


ly, Virgin Atlantic is a member, but only of 
IATA 


Dthec priority, Eser says, is to recruit 
members, especially in foe Far East, 


Another 
more 
where IATA is 
fyf it was 
carriers from 






B 


W.*W 5 ■ 
r 




-» 411: ■> 

.*M» : 


-represented. Irodcat 
pressure on IATA 
Airiines and Singa- 
pore Airlines that ^contributed to a major 
reform of IATA’s tariff roles in the late 
1970s. Up to then, IATA set not only fares 
but in-flight standards and rigidly enforced 
them through a team of 80 inspectors afro 
could levy large fines cm members for non- 
comptiance. Member airlines rebelled when 
they were unable to match the lower fares, 
free drinks ami superior cuisine of the non- 
IATA carriers. IATA officials refer to the 
“bad old days when we legislated everything 
from seat pitch to sandwiches." Says Lip- 
man: “We were self-defeating in those days, 
penalizing our own members for trying to be 
competitive. The marketplace had c ha n ged 
faster than the regulatory mec h an i sm.” 

There were other pressures. Deregulation 
had been completed m foe United States by- 
1978 and winds of change were blowing 
across the Atlantia Washington wanted to- 
tally free pricing on foe Atlantic and com- 
promised with the Europeans on a “zone of 
freedom” system whereby airlines would be 
free to set prices within ranges agreed by the 
governments- This was the U. S,-ECAC(Eu- 


the IATA trade association. 

IATA seems to be malting a determined 
effort to adapt its procedures to the evolu- 
tion of foe regulatory process. According to 
a senior official: ‘There are a lot of cases 
now where a earner can simply advise me 
about a new fare. But there are other areas, 
Africa for example, where operators on the 
route are oUigied. . under foe bilaterals to 
agree to a jqint proposal. We are applying 
government roles within our own rules. Ana 
providing a forum for airlines to rit together 
and talk. 

Last September IATA introduced what it 
calls a Tariff Reform Action Package for 
Europe. “The idea is to get innovation up 
front muchnmre quickly, and if the bilateral 
partners have a dispute, as happened once 
between Air Fiance and SAS on business 
class, we’re trying .to find some kind of 
arbitration process," lipman says. IATA 
has also opened up its tariff conferences to 


aviation organizations. ‘Transparency” is 
foe latest buzzword. 

According to Esa^IATA shares the views 
of foe European Gomnnssion that U. SL-styie 
deregulation is both impracticable and tm- 
desiiable in Eorope, with its matrix of sover- 
esgn stales, and twat ppc form of tariff rmw 
system should be the direction to take. Eser 
is seeking to reduce government influence 
and is strongly opposed to another layer of 
bureaucracy being imposed an the airline 
industry at an EC tern. 

Whether or not IATA will contribute to- 


ropcan Civil Aviation Conference) “Mono 


open qnestion and a separate issue, { lucre's 
too much talk about antine profits and not 
enough about azdine rifidency. And haven’t 
developing nations got better things to do 
with 5100 zru&ion don boy a Boeing 747?). 

-But an official at Swissair says: “We are 
convinced that IATA becomes more impor- 
tant, even if we have some form cf deregula- 
tion. Increased complexity is going to need 
mare coordination. 

Hie unfashionable conclusion is that jf 
IATA didn’t exist, h might need to be in- 
vented. ■ 


4 ' 


& 


gSome Addresses and Prices 


atw**- 


tfe*! * * 

' 

5 ■ 
s 

';***?: • 

- V 

".'.timw 

LlMt 

■:U*r. ■*" 

•v - 


The following is practical information on 
sane of the hotels and restaurants mentioned 
in tin: article to the rigftt Prices auoted induce 
lax and service charge, except mure otherwise 
indicated, and are gfwn in she current U. S, 
doBar equivalent. 


UPPER DANUBE: 

Hotel RkhardL6wej*erz(Dtfriistnru Lower 
Austria; tel: 222). Doable room, with break- 
fast, 547. 

Jaoek (Joching, 3610 Wrissenkirchcai, Low- 
er Austria; teL* 2235). Dinner for two from 
530 10 $60. 


MULL: 

Thwaa House (Isle of Mull, Aigyfl, Scot- 
land; td: Tiroran 232). Double rooms, m-, 
eluding breakfast, $75 to $100. 


EAST ANGUA; 

Place (Onuch Close, - 
. near Tbetford, Norfolk IP25 7LX; t«: Dcrc- 

ham 82Q3(m.Doub!e rooms $45 to $70, with 
breakfast. Five-course dinner for two $43, 
, plus ID percent service charge. No credit 
wds. 


ALSACE: 

Aabergede HO (Route de Gnfanar, Hlhaeu- 
sem; td: 71.8323). Muncx for two $110. 
OocodBe, 10 Rue de rOntre, Strasbourg 
td: 32.13.02). Dhxner far two $70. 

An* Anoes de France (1 Grand Rue, Am- 
merschwihr, 47.10.12). Dinner to two $80. 
ScfaQfinger (16 Rue Stanislas, Colmar; 
41A3.17). Dinner for two $80. 


LcTdboofo (Gun Hffl, Dedham, Cblchesier, 
Esjex CO107SA; Colchester 3231 


«J«kV 

fwt»v / 




1150). Diner 

two about. $50. No aedit carfe 
Weeks (3 1 Egremont Street, Glcmsfora, Suf- 
folk C01Q7SA; Glcmsford 281573). Dinn» 
for tro about $50. No credit cards. 


•*»=< 


r - 

" ; W •* ! 


p^nWflSH LAKES; 0 t 

•Ustnipi Anlanko (Hameenbnna, Route 


MILAN: 

Gudtkro Mardwd (9Via Boovetin de la 
Riva; td: 741246). Dinner for two $60 to 
$100. 

Aitno eNadfr (6 Via Mcotccucccfi; 416886). 
Dinner lot two $50 to $80. 

AI Porto (Piazzale Generale Can tore; 
8321481). Darner for two $40. 

MODENA: 

Fw Hotel (441 Via Emilia Est; td: 238091). 
DooUe room $65. Breakfast $6. 







wnt* 5 




& 




* .iW ■ ' 


Ml S^RJM: B 

y y^mt QteaSoi (23 Place Rouppe L Brts- 
' W£29.21)y Dinner for two, exdud- : 

gaerifieASIOOfoSm „ _ # ^ 
{«W * Motto Mdeire ( 

mi Ncoefoataine; td; ^ 46.7R15). 
*™°iaetotau, with breakfast, $60. 


BARCELONA: 

Siete Pnextas (14 Passeig dlsabd H; td: 
319.3033). Dinner for two $16 to $37. 

Ama L nr (275 Mallorca; 2L53024). Dinner 
few two $43 to $73. 

Jamnede l bwepro (88 Proven^ 230X029). 
Dinner for two $20 to $40. 

Baco Bfon (14 Pmgi CadafaVb, Aigea- 
tona; 797-0101). Dmnerfor two $30to$45.B 


C 1985 The New York Tuna 


ZX-JR?*--*' 




TRAVEL 


Leaving Crowded Europe Behind 


Continued from page 9 


wodd admires — Renter dc Hoy and Gode- 
froid de Hoy. two of the geniuses of medi- 
eval enamel work and sculpture; Jan van 

Mcmhngfmasters of per- 
spective, ookw and dated, and finally Ru- 
bens and Van Dyck, the superstars of foe 
17th centuzy. Its restaurants are foe equal of 
Frances, and Comme Chez Sot in Brussels is 

one of a half-dozen contenders for the best in 

Enrope. Its forests are captivating — partic- 
ularly foe Ardennes, in the south, with its 
game, its bams, its deeply cut river valleys 
and its i nn s . And yet, with (he exception of 
Bruges and Ghent, Belgium remains terra 
incognita to most tourists; it is known to too 
many people as a load of bad drivers, dowdy 
women and dull men— the apotheosis of the 
bourgeois. 

Spend a few days in airy one of a number 
of good hotels m Brussels. After you have 
explored foe Grand’ Place, one of Europe’s 
noblest squares, the art iwumitm, and 
die wealth of Art Nonvean buildings, mike & 
series of day trips — to Antwerp, where you 
should see not only the Bcanx-Arts Museum 
but also Ihe cathedral, with two great Ru- 
benses, and the chore collection prt togeth- 
er by the 19th-century connoisseur Mayer 
van dea Bezgh; to Ghent for van Eyck and to 


Hn ryi! foe van Eyck Memling an d the 
.iron] 


canals; to Liige; if only to see die incredible, 

fanlm foe^hnrch few 

days in the Ardennes (try the seductive An- 
berge da Moulin Hzdeax at Ncdrefcmtame) 
would provide a perfect coda to such a 
holiday. 


German Expressionists 



Th» New Y«* Tr 


Only mGennaiiy can one see the wodt of 
these printers, who befoed to shape the mod- 
em movement, in its roll scope. There were 
two major groups of Expressionists — Die 
Brficke, winch included Kirdmer, He ck el , 
Nolde and Schmidt-Rotlnff, who shared a 
pasacarfor pure colors and often slashing 
draftsmanship; and Der Blaue Rater, which 
included more radical, abstract and senri- 
abatract painters sodi as Marc, Macke, Klee 
and Kandinsky. 

Happily for our proposes, many of the 
nmsenms with the b«t collections are off the 
beaten trad; in cities better known to busi- 
ness people than tourists. Several are clus- 
tered in & northwestern part of West Ger- 
many, conveniently linked by Antobahn: the 
gimjcthallg in Hambrng the KunsfoaSe is 
Bremen, the FaUcwang Museum in Essen, 
the Kunsthalfc in Bidefdd and the Kunst- 
mnnlun g Nordihein-Westfalen and the 
Kunstmusenm in DCsseidntf. Hamburg and 
DQssddcrf also offer superb shopping and 
CTc rilait music; in Hamburg, you can 
choose between the Atlantic Hotel Kem- 
pinski or the Vier Jahreszriten if you’re feel- 
rag flush, or stay at the cozy, centrally locat- 
ed little Prem n you’re not, and there are 
similar good choices in most of the stops on 
this journey. At Seebfifl, north of Hamburg 
on foe Danish border, is the outstanding 
^maTI museum devoted to the works of Emu 
Nolde, irajnrifng foe “Life of Gxrist,” con- 
sidered his masterpiece. - -• 


above the river. Perhaps you will react like 
Patrick Leigh Fennor who, walking in the 
1930s from London to Constantinople, as 
Istanbul was then known, concluded th*t 
“ceremonious and jocund, Mrik is Ugh 
noon.” Almost every tittle town has its inn, 
invariably dBm and cnUnrf nl, where one can 
sample foe local wine, and there are larger 
es tablishment s in T-fa*, Krems and Dfim- 
stein, where the antique-filled Hotel Richard 
Ldwenhera is laid out in an dd vaulted 
convent. Jamek, at Weiasenkirchen in the 
Wachan, is (me of the four best restaurants 
in Austria. 



Budapest 


The U p per Danube 


Of all the cities of Eastern Enrope, Hike 
Budapest best, even though it lacks Lenin- 
grad’s art treasures and Prague’s architectur- 
al splendor. I Hkc it best because of its sense 
of exuberance, became of its food and above 
all because erf its people, the witty, articulate, 
handsome, tatentWi Hungarians. A relatively 
liberal economic policy means that it has 
good hotels, shop with full shrives (Herend 
porcelain and phon ograph records are spe- 
cial bargains) »nd a central waAer bursting 
with fruits and flowers and cheeses and, of 
course, peppers in every color of the rain- 
bow. I usually stay at the HSton, built 
around the mini of a 13th-century Donum- 
can e ? n i«rh atop CasdeldL 
Visit- the National Museum, which holds 
antiquities as well as St. Stephen’s Crown, a 
treasure of Byzantine art, returned by the 
United States in. 1978; the Fine Arts Muse- 


best of France’s three-star restaurants, and 
there is no more warmhearted host than the 
dfin Jean-Pierre Haeberim. Crocodile at 
Strasbourg, Aux Aimes de Fiance at Am- 
merschwihr and SdriHinger at Colmar are 
other fine tables, but yon should also 1 
the old-style regional cuisine — 
the choucroote, the more refined 
version of sauerkraut — at a brasserie or a 
simple village bistro. 

Between gtmii through Cohnar, 

which is full of quirky half-timbered budd- 
ings, and see Strasbourg, which has a fine 
cathedral, several good museums and an old 
quarter called Petite France, where medieval 
buddings are reflected in rewials. By no 
means miss Riqnewihr, a town untouched by 
the wars that have ravaged this border area 
for centuries; it looks today much as it 
looked in the 16th century. Riqnewihr lies in 
the heart of the Alsatian vineyards, and it is 
the headquarters of Hugd, one of the most 
esteemed names among Alsatian growers. 
Jean Hugd, whose family has been in the 
trade for hundreds of years, is a hearty, 
broad-shouldered man who speaks perfect 
English, and be and fns co-workers are hap- 
py to show interested viators around his 
cellars. 


Milan 


Although foe waters of the river do not 
always display the color of which Strauss’ 
great waltz sings, its 200-mile course from 
Passan in West Germany to Vienna is 
enough to stir foe heart of any romantic. 
Along the banks stand castles, church 
towns, vineyards and fine Renaissance 
houses. The trip can be made by boat, but a 
leisurely motor trip is better, because it af- 
fords the chance to explore and to dawdle. 
You wffi want to vial villages such as Wesen- 
ufer, where flowers seem to spill from every 
balcony; crag- top rains sqm as those at 
Stroden and Sarromgstein; valleys such as 
the Nibehmgengan, with its links to Wagne- 
rian legend, and the Wachan, with its or- 
chards and steeply terraced vineyards. 

The highlights are two abbeys: St Florian, 
with Bruckner's grave and 14 paintings by 
foci Danubian master Albrecht Altdorfer — 
by far the largest extant collection — and 



restored State Opera, have dinner at the 
Matyas Pince, where only the best gypsy 
bands play. At every torn, you wiB be reso- 
nated by tins brave; cosmopohtan dty — 
especially if you can persuade an 
speaking Himggrign to tril you the 
anti-Soviet jokes. 


Alsace 


Same of the best eating in the world is 
crowded into this strip of eastern France, 
which faces the Black Forest across the 
Rhine, along with the peaks of the Vosges, 
the stunning Isenheim altaipicce of Mathias 
Grtinewald at Colmar and foe bustling city 
cf Strasbourg, seal of foe European Parhn- 
menL The Anberge de ITO in mfiaeuMxn, set 
beneath weeping willows akmg a Httie river, 
is the most reasonably priced and one of the 



The castle in Buda. 


Modena 


Italy’s second largest city is its economic 

ca pital- sr aithwn Itn1imw find its people SO 

energetic that they often call them ^the Ger- 
mans.” But MBan is also an art city. In 
addition to the white, rnnltispired Dnomo,it 
boasts the Brera Gallery, with famous works 
by Piero della Francesca and Raphad; the 
Ambrosiana gallery, with one Leonardo 
masterpiece and maybe two (foe attribution 
of the second is disputed); the most celebrat- 
ed of all paintings, Leonardo's “Last Sup- 
per,” once again undergoing restoration but 
stDl largely viable, and one of Europe’s most 
inviting small museums, the Perfdi PttzoK. 

The Via Monte Napdeone is one of the 
world's great fashion avenues, and nearby 
streets house the showrooms of Europe's 
best modem design industry — Artennde, 
Artduce, Memphis, Casxina. Ihe food is 
fabulous; try Gualticro Marchesi for Italian 
nouvdle cuisine, or Aimo e Nadia, less well 
known but perhaps even better; Al Porto far 
fish; Alfredo Grin San Bernardo or Savini 
far the local classics, veal scaB opine and rice 
with saffron. Through much 01 the year. La 
Scala presents the world’s greatest orches- 
tras, singers and recitalists. So who needs to 
join the hordes in hot Rome and Florence 
this summer? 


There are at least two or three dozen small 
towns and cities in Italy that are worth an 
excursion; some are very well blown, like 
Assisi and Verona, others much less so, tike 
Todi and Voiteoa. One place that never 
seems to me to get its due is Modena, the 
industrial city of about 180,000 northwest of 
Bologna where Ferrari and Maserati cars, 
among other things, are produced. 

Its cathedral, which has just been restmed, 
is one of foe very finest Romanesque build- 
ings in Italy, notable especially for the sculp- 
tured decoration (bas-reliefs, doorways) exe- 
cuted by a 12th-century Lombard master 
known asWiKgehno. Inside, foe sober brick- 
work is relieved by a graceful rood screen 
supported by Lombard lions. The local dom- 
inance of the Este family is reflected in a 
library containing 15,000 manuscripts, the 
most beautiful of which are cm view, and a 
good small picture gallery. 

Dr. Giorgio Em, whose company sells 
millions of bottles of acew balsamico (a dark, 
potent herb vinegar) and zampord (pig’s 
feet), operates a neat, modern hotel in Mode- 
na pins a restaurant with about 200 regional 
specialties. Easy excursions can be made to 
Mantua (Mantegna frescoes), Raima (ham, 
cheese, Correggio frescoes and a baptistry 
with magnificent carving by Antelami, a fit 
rival for WHigelmo) and Ferrara (the Este 
palace). 


Barcelona 


one 


Where to go in Spain? The coast will be ‘ 
jammed, the old Moorish dries of the south ' 
ditto, Toledo even more ditto, and Madrid 
will be too hot. The proud and compelling 
Catalan capital would be my choice. I agree . 
with James Mfchener when he writes, “to • 
travel across Spain and finally to reach Bar- 
celona is like drinking a respectable red wine -< 
and finishing with a bottle of champagne.” * 
Hus is foe city of Antonio G aumV foe 1 
fiercely individualistic architect considered • 
of the fathers of Art Nouveau. His ' 
Fanrilia church, begun in 1884, is -7 
under construction; it is opcm to the ± 
public, and you can also visit GftcD Park and 
two downtown apartment buildings, the _ 
Casa Battid and foe Casa MSA Museums •; 
abound — the vast Museum of Catalonian ’ 
An an Mbatjukh Hffl, winch is filled with • 
treasures removed from Pyrenean churches; ; 
museums devoted to the work of two famous f 
Catalan modernists, Pablo Picasso and Joan 
Miro; the Marts museum, with a renowned ' 
collection of polychrome wood sculpture, 
and foe Camb6 collection, with wanes by - 
Raphael. Botticelli and Titian. 

This is the place to shop for leather goods . 
ofaH kinds, at prices a third of those in New 
York, and for elegant modern jewelry. And ; 
Barcelona offers absolutely superb food, • 
which shows the mflnence of neighboring 
RmiceiraqgingfrcaDaa^e local fish dishes . 
(try foe restaurant Sete Puertas) to highly ■ 
innovative cooking in lush surroundings (try 
Ama Lur and Jaame de Provenga). Perhaps 
best of aB is Race d’En Binu, about 20 mites • 
northeast at Algernons. Stay at the sooth- / 
ingjy old-fashioned Rjtz if you can. 


The Peloponnesus 


The p eninsula west of Athens has more 
than its share of glorious archaeological 
sites, it is less crowded than Athens or Del- 
phi or the main islands, and its people are 
warmhearted toward Americans, whatever 
the Papandreoa government may be saying 
or doing at the moment A year or so ago, my 
wife and I stopped at a rural tavema for a 
quid: lunch and stayed fra several hours, 
tatiring to local people who introduced them- 
selves through ue simple expedient of send- 
ing samples of what they were eating and 
drinking to our table. The landscape is, well, 
Arcadian — a word we take from the name 
of the hilly area in foe central part of the 
Peloponnesus. 

In a week’s unhurried driving, yon could 
see foe nans at Corinth; foe theater at Epi- 
danrus, probably the best preserved in 
Greece; foe charming coastal islands of 
SpetseL Poros and Hydra, all of which can 
be readied by feny; Agamemnon's capital at 
Mycenae, excavated by the brilliant German 
amateur. Heinrich Schliemann, starting in 


1876; Sparta, evocative in name but sterile in 
reality; remote Mistra, with lovely tittle apri- 
cot-orange Byzantine churches scattered 
across a hillside and filled with luminous ■ 
frescoes; Bassae, a perfect tittle temple iso- 
lated on its ridge between two ravines, and * 
Olympia, birthplace of the Games. 

There are adequate hotels,- and a few good ; 
ones, in soch centers as Nauplia, near Myce- 



c 1985 The New York Tima 




I 






Page 12 


INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 


Thursday^ 

M SE 

Oosmg 

Tables indue* the nationwide prices 
up to the closing on Wall Street 
and do not reflect late trades elsewhere. 


II Month 
Mtai Low Stock 


Sis, CM* I 12 Month 

Olv. YW. PE WMHMiLggaugLgaSl HMiUw Shirt 


(Continued from Page 8) 


zaa ioj is 
1-22 1U 25 
J3r J 10 89 

tl 3 87 
20 

250 1-4 10 

4 SI 
MB IP 10 1311 
240a U 10 139 

220 7J 2 

1J» U Tl W 

t 11 

23 IX 13 IMS 
IP U I 2324 
3X0 XI 100 16 

120 30 16 920 

Z 

240 55 13 424 
120 26 1 
7 538 


J6 17 I 1*5 
248 U 0 513 
T220 104 9 

144 34 12 114 
T-30 23 10 103 

W U 14 Mil 
1X0 lJ 14 26 

20 27 21 3288 
147 


27* + u 

n* 

sm + ih 
124% 

84% 

2996— 4% 
13 

474%— 11% 
49* + H 

saw— * 

271% + Vh 
B — V% 
594% + * 
721% — 39% 
641% 

46 +1% 

3444— 1* 
43V,— V% 
TIPS 

lib — * 
34% — 1% 
2744— M 
374% + V% 
174%— 1% 
2744 

471%— 4% 
264%— 14 
425% + V% 
574% — 1 
99—4% 
4m%— i% 
2916 + 14 
24% 

171V — 1% 
64% + V% 
291% + Vj 
58 42 

55 

5814+1% 
561% — 1% 
SS* 



219% 16 NAFCC 

641% 40 NBO 

Z2V% 17* NCH 31 M M * 2116 

40V. 2354 NCNB 162 12 10 306 40 

3046 201% NCR « 14 0 3046 264% 

164% 10* NU I nc! 30 1J 1037 II 

35* 2554 NUI 232 65 9 9 354% 

14% ft NVF 100 4% 

4616 335% NWA 30 24 U 2146 WA 

614% 381% NatacB 268 45 12 784 59* 

284% 21 NO lea 1X0 5.1 12 259 231% 

Z7«% 214% Nashua 7 241 264% 

185% 111% NtCnve J4 10 U «3 lift 

31 2246 NaKKd 220 75 32 266 294% 

871% 771% NDIStpf 4X5 45 lOz 86 

1916 1616 NOW or 1XS 9J 40 19 . 


XU U in 

205 HL1 7 

160 96 9 9 

X6 IX 33 151 

236 46 9 2258 
1X8 1X6 5 7631 
1X0 40 38 

2X6 93 18 38% 

M U U 41 
250 46 T2 1941 
2X6 IX 8 TOT 

142b S3 7 40 

261 115 If 
4.12 1 20 » 

£20 7X 11275T2 

11 47 

X0 IX 11 347 
— S4S 
60 46 25 . 2 
250 54 U IBM 
3X0 8X II 2348 
160OHJ . 49 

83 S Ml? ,g 

1X4 4X 13 143 

ISO 86 IP 

2X0 47 8 3774 
1X8 2X 10 240 
JO 35 12 46 

1X8*96 10 151 

M l\n HU 

54 2X« 10 

1X0 25 10 281 
160 23 12 284 
60 24 10 36 

1X4*116 55 


NAFCO 1X0 56 18 
NBO 2X0 35 7 


24% 

2016+4% 
154% + * 
41% — b 

52 +1 
131% 

164% 

271b— 4% 
Ufe+.to 
76 +1 

3346—1% 
746— V% 
23 
22 
3416 

55% — 5% 
314% +1(6 
46 

44% + 5% 
2816— 5% 
34% — 5% 
1746— 1% 
45 + » 

23 +1V% 

175% 

94% + 1% 

53 

245%— 4% 
28* + * 
474%— 9% 
40V. 

am + * 
in% + 1% 

30—1% 


304%- 46 
171% 

1246— 4% 
246— 1% 


19—4% 
618% +146 
144%+ 4% 
2116 + 46 
40 +46 

2616 + 16 
1146— 4% 

“SU 

s *x 

234% + 56 
254% + Vb 
118% 

2946 

>6 

19 +4% 

144% + 4% 



ffl*. C 

n-n>. YM. PE TgBHMlLJWt 

IX* 56 7 H 

230 106 I 

2X0 46 6 *48 

US U 81 

5X0 *6 22 

JB 20 13 SOW 

ixo u n jn 
iz man 

11 411 

’J 52 
’ % 


I I QMOBUl 
.OTB* I HttftLOW SXOCfc 


, low Pout 01*88 


i2Monm _ 

hmi Low Sadi 


C»S8_. 

imwOuM.Oi'Bt 


2M% 1*16 NwtFpf 250 1U> 
275V 194% NwtPpf 236 106 
20 85% ffwsrw 

381% 3046 Namn 2X0 SX 11 


743 834% 83b 838% + W 


2746— 5% 211% 1*16 NwtPpf 258 11X J g* “to SS * £ 

n +46 zm 194% NwtPpf 2X6 TU 2 St S 

414% + 4% JO 85% ftwsnv _ .. “ S'* ffif if* + * 

34% 381% 3046 Nemo 2X0 SX 11 x * is* i 5 + «. 

2446— 46 am 2116 NonvsT TJ0 7.T 15 4» »* =* + 2 

54 -M6 SBto 484% Nwstnf 41UtU _ » g* S' g*"~ ft 

264% + 9% 511% 301% NOVO X3% 5 12 95 »* 55 wT £ 

7*— V. 3846 2* MOGOT Xfl IX 10 as ^ 361% M + 16 

2tb — 4% 81% 3 NuMI X0I 48 «* *ff *»— * 

HP% 854% 584% KYNEX 6X0 73 8 741 834% 83U. *** + » 

2846— 46 M ’ - ■ 

14 ■ O I 

12 — 1 % ■ 

20*”* 54% 146 OOfclnd 331 „ 

1644 — 4% 3* TO OPlIlP 1-D U B 3 £> S 

104% 3S46 214% QeefPet 250 16 9 3382 2g% »* »J%— J% 

«n%— 1% 17 *5% oeeiPwt u Jf* gv. gw— " 

M%— 16 2X4% 2046 OedPnf 250 tlX 15 5 5 .. 

234% + 16 20* 17* OeClPpf £12 tlX 2 19. 19 . W. . — 1% 

— *» ir 22Vh Oaippl Tiff \\A I 2M 3M MJJ + » 

4JP&— « 5141 4R»OcdP^ 135 03 ifSiffiSiSS 4- ifc 

3u ns n»% oedponsxo tai « + * 

1816 1081%, lMto Ocd Pf M42 136 31 106 105* Kg*— .*> 

— - nn m ruriD^um ni JAdCH 1MW MM— 1M 

Z0 18 UWk 344% 2*4% + 4% 


33 

40 573 
*19 

£08 116 6 1*20 


£40 m ion 
£60 116 1001 
350 126 A 
4.10 127 600* 

465 126 Slttl 
SXS 12X lOQz 
£10 125 400* 

155*125 27 

.12 5 1* 33 

£04 10.1 651 

.12b 6 45 6St 
3X0 SX 8 lSg 

2X0 56 * « 

XB S 6 93 

1X0 15 7 41 

1X0 £6 ■ 64 

1-SSe 83 11 52 

USB WX 5 947 

1J* 116 * 1820 

457*103 45 

124 7.1 8 1793 


880 11X 10* 

7X0 115 lib 

50 630 

1X0 18 II 2777 
268 4.9 20 1910 


151% + 1% 
SOW + 1% 
144% 

846— 4% 
4416 + V. 
146— 46 
1(46— U 
20 +46 

31 +1 

30 -2 
3216—46 
3(1% + 4% 
43 +11% 

4846 

151% — 46 

73*% 

30 

151% + 46 
63 +1 
1446 + 46 
414% 

151%— 16 
5246— 4% 
384% 

m% + 16 
151%— 4% 
114%— 4% 
4446 + 4% 
451% + 46 
31V* —11% 
331% — » 
374% 

62 +2 
77 —21% 
41 
331% 

4V%— V% 
434%— 24% 
S3 — 1% 


61 U 60 29%% 
138 • 1731 1466 
T£7 80b 33 

138 104b 34 

1£4 1190*54 

U6 30b 541% 
I£7 21 26*% 

TU O 291% 
1Z4 2 144% 

3J 44 156 124% 

t£2 4084% 

HI 30b 431% 

11X » 20 

1X8 
115 
87 10 
1B8 

45 9 314 

W 

3J 9 34 

83 10 122 

*8 9 B2 
t 4X 14 45 

11 49 94 


CoomuNu! BM Attdi 


CMPM NtX 8M ASM I 


Floating Rate Notes 


May 2 


Dollar 



BKOtTaiivon 
Bk 01 Tokyo 87 
Bl 01 Tokyo ftm/TI 
BkOt Tokyo tkd&rtl 
B* America *6 
Bonkers TruH a 
Bankers Trust 94 
Bcrturc Trial H 
Ba Arabe El InvesBJ^l 
BM« 

BM19 

Burn 

Bq tndasuez B9 
BaioMsuezn 
BaOeL'Unton Eur89 
Bice 87 
B tee octal 
BfceiroBS 
Bk» 99 
Bnp» 

BnoB7 

Bop 85/88 

BHPB6/96 

Bnpl9 

BnoW 

BmlB/yi 


Coopoa Next BM MW 
16 8-7 
84% 29-7 
91% 64 
90% 12-6 
9W 2*4 
94% 11-6 
91% 254 
91% 134 
101% 304 
Pi 174 
91% 11-M 
9X0 174 
91% 15-7 
Wfc 244 
9* 204 
1% 8-7 
9U XW 
91% 27-7 
UK. 134 
91% 64 
111% 254 
8*% JI-2 
94% 1M 
Vtk 54 
MOO 94 
101% *4 



ADVERTISEMENT 

INTERNATIONAL FUNDS 

Quotations Supplied by Funds Listed 
2 May 1985 

The net auet value quotations; shown below are supplied by flw Funds listed wltti the 
exception of some hinds whose quotes are based on issue prices. The follow bm 
marginal symbols indicate frequency of quotations supplied tar the IHT: 

U) -tiaUv; fw> - weekly; lb) -M-mentMy; lr) -repirinrly; W -Ir mo l ar t y. 

ALMAL management obliflex limited 

<w) Al-Mal Trust. V a S 153X1 — (v» NUjitlnirrsncv S 10X0 

...... .... ...e — (w Pol lor Medium Term 3 10-35 

BAMK_JU LJU5_B AER & CO. Lid. — <*» Dollar Lang Term Jlo 

—Id I Boerbond SF 915X0 t— i— — v« tinn 

—Id I Conbor SF 1210X0 SSSK.Jl.u2: ? iSi? 

-Id I Eaulboer America 5 1094X0 Zr* SSSILmIIS m l D.10 

—(d I Eaulboer Europe SF 1199X0 ci inng 

— Id I Equlboer Pacltlc SF 1115X0 _iZi SSSSSS? IP .S1 


— (d ) Grobar 

— <d I Slockbor 

BANQUE INDOSUEZ 
—Id i Asian Growth Fu 

—(h) Dtverband. 

— (w) F1F Am *Tlcn_ 

— (wl FIF— Euraoe— 


- A F .! 5fl — (w) Japanese Yen 

S « snlSnn “ <«> Pound Strrtkw 

"'sllioom — <w» Deutsche Mark 

le iiwaS — 1*»> Dutch FMin 

sf]K “ < "' 1 5wta Fraoc 

SF 1636X0* ORANGE NASSAU GROUP 

PB 85578 The Hague SffiUl 469670 
— (d ) Beyr Behgglnoenl I 


. S 10X7 ' 

SF 82-50 PARISBAS— GROUP 
. S1BX7 — (dlCortao iirt*raat%mai. 
. S 11X4 — (WIOBLI-DM 


— <wl FIF — Pad Re S 15X0 -I wl OBLIGATION SF9175 

— Id) Indosoe* Multibonds A S89X6 — (Wl OBU -DOLLAR 51.129.11 

— <d ) lndasum Multlbands B S 147X9 -lw| OBU-YEN Y 106X35X0 

BRlTAMNI_AJ>OB27 1 . s t. Heller, Jerm ! PARqtUFUNDZTTr. . IM 

Zr2l *«en2 — <n 1 PARINTER FUND 5104X3 

S*l3w ~ I PAR US Treasury Bond 1 10X7 

— (d ) BriL IntlX Monao.Parlt C 1.175* ROYAL B.OFCANADA^OB1*6GUERNSEY 

-1w> Brll.Unlvemi Growth $a9#0 -Hw) RBCCanodhm Fund LJd 511X2 

— (wl BrlLGold Fund 50X89 +(wl RBC For Eost&Podflc Fd — 51051* 

— (wl BritMonoO-Currency C14X0* -Ww) RBC IWI Capital Fd.— 52058* 

— (dlBrtt. Japan oir Pert. Fd SQ.979 -H«l RBC Wl income Fd 51093 

— (wl Bril Jersey Gill Fund 10X17 ~Hd) RBC Mon. Currency Fd. 523.10 

— Id 1 BrIL World Lels. Fund 51X67 -Hwl RBC North Anwr. Fd._— . 59X6 

-(d)Brtt. World Techn. Fund SOJ73 jkandiFOND intl FUND (464-236270) 

CAPITAL INTERNATIONAL — (w)lnc.: Bid— .55X2 Oftar 55X8 

-Iwl Copjial inn Fund $36.19 — twIAcc.: Bid SUM Offer 5541 

-4*1 Copilot Italia SA — 5 X2Ji SVENSKA INTERNATIONAL Lit*. 

CREDIT SUISSE ( ISSUE PRICES! 17 Devonshire S*uLondon41-32740«) 

— <d I Actions Sufcaos SF 371X0 —lb 1 SHB Bond Fund $21X6 


— (d)Brtt. Japan Dir Pert. Fd 50.979 -Hw) RBC Wl Income Fd SIB 

— (w) Bril Jersey Gill Fund (0X17 -Hd 1 RBC Mon. Currency Fd. 523 

— (d) BriL WorM Lels. Fund 51X67 -Hw) RBC North Anwr. Fd.— 59 

-(d! Brit. World Techn. Fund SOJ73 skandiFQND INTL FUND (464-23627 

CAPITAL INTERNATIONAL — (wllnc.: Bid— .55X2 Offer 55 

-(wl Capital inn Fund $36.19 — (w)Acc: Bid SUM Offer 55 

—4WI Copilot Italia SA — 5,274 SVENSKA INTERNATIONAL Lit). 

CREDIT SUISSE (ISSUE PRICES! 17 Devonshire ScuLondon-01-3774040 

— « I Actions Sufcoos SF 371X0 —lb I SHB Bond Fund 521. 

—(d) Band Valor Swt SF 10465 — (wl SHB intl Growth Fund S2Q 

—id! Bond Veflor DwitorK . DM 107J2B cu//cc dajum /■<%»» //ccur 

=!3! S3 !!S£ Ssou3r.. 5F 5 =!- ^ DM,,i 

— (d I Ccuraec— SF84 


— (d ) CS Fond»-«on< 
— (d ) CS Foods— inn. 
—(d)CS Money Mark 
—Id ) CS Money Mam 

— (d ) Eiwrgta— Valor. 

— (d ) Ussec 

— (d I Europo— Vnlw. 
— (d I Pacific— Valor. 


Market Fund— 5 1 056X0 
Market Fund DM 1032X0 "is 
Vnlnr SF 166.7S — »“ 


d ) Amerlco-Valor— . SF 582X5 
:d) D-Mark Band Selection DM 115X8 

d ) Dollar Band Selection 512631 

— (d ) Florin Bond Selection— FL 130X1 

— (d ) Intervolar SF89X0 

— (d > Japan Portfolio SF 837X5 

d ) Sterling Band Selection— ( 101X7 
!d > Swiss Foreign Bond Sol. SF 105X4 
d ) Swtssvator New Series _ SF3025D 
SFKL75 
SF 119X8 
Y 9.991X0 


DIT INVESTMENT FFM 

— +(d 1 Can centra DM 25.16 ~ ta i S£2iii£i h - If 

-+«d non i^md ^gj^s ^sh... s'™ 

DurmA Hargltt 6 Ltavd George, Brvssets — Id I Jornn- Invest— — - SF948X0 

— (m! DBrH Commodity Pool. 530463*** — (d 1 Saflt South Air. Sh. SF 50650 

— (ml Currency & Gold Pool 1199X6— — fd I Sima (stock prlco) SF 197X0 

3SlfiS£VKfl£c: 

FAC MGMT. LTD. INV. ADVI5ERS — Id > Unffonds DM 22X0 

I. Laurence Pounty Hill, EC4. 01-623-** — <d i Unlrok DM 77X0 

— Ih) FAC Attonllc — Z 111.95 rVL,,. Fnnfk 

-Iw) FAC European S 10AB LrtnCT t lUMS 

— (w| FAC Oriental ... 5 2630 |w) AcKbarals Investments Fund. 521X0 

FIDELITY POB 670. Hamilton Bermuda JT M S «^ 

— (m) American Values Common^ 58537 { r** T j L— e T ^S . ,*,W5 

— (ml Amer Values CunPrvf 5101JB !?} j5i l Ei[ltS2 t ?S nal FuBd - 

— (d l Fidelity Anwr. Assets 565X4 {{" > ArOOFlnance I.F 584682 

—Id ) FkJMlIv Australia Fund I7.M ?. y--j- .vvt;.' - * 


M 1032X0 — H ! Swiss Foreign Band Set. SF 
SF W673 — M > Swtsivalor now Series 
SF 9SA00 — W » Universal Band Select. 

SF 15L75 — W ) Universal Fond — 

IP 16600 “W » Yen Band Selection 

UNION BANK OF SWITZERLAND 


SF 39X5 
SF 6750 
SF 13650 
SF 948X0 
SF 50650 
SF 197X0 


—la 1 Fidelity Discovery Fund 
-fd l Fidelity Dlr.Svos.Tr_ 
-fd ! Fidelity Far East Fund, 

— (d ) Fidelity InTL Fund 

— Id l Fidelity Orient Fund 

— (d l Fidelity Frontier Fund- 
— fd | Fidelity Pacitic Funo_ 


— Id | Fidelity Socl. Grown, Fd. 514X5 {3,1 

— fdl Fidelity World Fund— 530X9 ifl* 7 £7etwkmdOffihgi 


FORBES PO B8B7 GRAND CAYMAN 
London Agent 0143*4013 

— (w) Gold Income 5 7X7 

— (w) Gold Aporeetathm S4.1: 

— Iw) Dollar Fncatns 3 BA 

— (ml Strategic Trading 5 l.Ii 


S llfl ,wl Tni*t«w Inn Fd. (AEIFI naan 

IIBM (w)BNPlntarbondFund 5103X7 

12600 w) Bpndsetair-lssue Pr. SF 134X5 

53561 ini) Canada GtdJUIortgago Fd 5 9X3 

SaX5 (d ) Capital Preserv. Fd. Intl 511X8 

Inn IWI Citadel Fund 5162 

*130*12 W) CJ-H- Australia Fund 5 9X6 

*514X5 fd i cj.r. Japan Fund Siam 

530X9 (nUCIevelajidOfffhoreFdL 5 £005X8 

(wl Cotambta securities FL 114.15 


G E FIND R FUNDS. 


(b) COMETS 5899X9 

(w! Convert. Fd. mri A Certs $9.14 

17X7* W] Convert, Fd. Infl B Certs, — . 5 26X3 
5 4.13 (wl DX3.C. ■ 5 7VX6 

5 8X6 (d) □. Witter WM Wide I vtTst 510.14 

51.14 » > Drakkor Invest.Fund N.V_ 51.11645 
Id > Dreytue Anwrtcn Fund . . 3 10X0 
u, — ) Diwfus Fund IntT 5 36X2 


— Iw) East investment Field $34259 iWi Dra^in 

— i"! ^»t»wand Fund 1 114X3 2 VftS 


—Iwl State St. American 515650 

Canrt.GukLLid.LonABefilXl-4914230 
GLOBAL ASSET MANAGEMENT CORP. 


Iwl The Establishment Trust- 

Id ) Europe Obligations 

wj First Eagle Fund — __ 
lb I Fifty Stan Lw 


PB 119. Si Peter Pert. Guernsey. 0481-28715 ( wl Flnstxjry Group LI 


(ml FuturGAM SA 

imlGAM Arbitrage me 
(wl GAMerlca lr 
Iw) gam Boston inc 
(w) GAM ErmITooe 
fw) GAM Franc-vnl _ 
la i Gam International int_ 

Iw) GAM North America Inc. 

Iwi gam N. America unit Trusl. 
Iwi GAM Pacific I ne 
(wl GAM Slerf. 6 mil Unit Trust 
tm) GAM System Inc. - 

(*) GAM Worldwide Inc 

(ml GAM Tycho SA. Class A 

S-T. MANAGEMENT (UK) Lid. 

— (w) Berry Pac. Fd. Ltd. 

-id I G.T. Applied science 


1 11736 (wl Fixed Income Trans— 

5 122X8 iw) Fanselex Issue Pr 

5 137,90 Iw) Forextand- 

5 188X5 lw) Formula Selection Fd.. 
51360 Id ) FnndHolln 
SF 9631 |d l Govwruri. Set Fund«_ 


— S1X8 

— 60 34 
S 14J22XI 
. 5 879X0 
. S 117X6 
_ 510X5 

SF 712.90 

17X3 

SF 6627 
_ 523X2 
_ SHSX6 


S 10463 Id 1 F run kl-T rust Intarzhra DM 42X4 

$104X7 fw! Haiasmpnn Hldgs. N.V *11136 

ioaoo p (wl Homo Funds. 510461 

5 11195 jw> H 0 ? 1 * 0 " S 1,12434 

132X0 P lb II LA Intf Gold Band 59X8 

5 106X5 id 1 Interring! HA 513X3 

5134X3 {Wj Jntarwprtsef Fund 5 31690 

511534 ■ t ‘>JnlSVnlnli»Mut.Fd.a.-B , _ 540463 

It) lnriSeairif}«sFund_ 5 9X1 

„ (d l inveNa DW5 DM 4431 

- lr ) Invest AtHmttques 5733 

.,-£±1 lr) Itaffbrhm* Inn FundSA 51130 


27i«Stt?J Kffir.«a K ' UtL . - » 5 ^dws 8 ! ! ^ — 5M*4lil 

Ei Wi isSSfeS 

in BB BS= rdB 

— “ ! G.t. I nvestmeni Fund 517X4 !», s, «rSS 

—la I G.T. Japan Smal rn Fury! S4fl44 fml si 

=eiH:B 9 Kta= IS! 

HILL SAMUEL INVEST. MGMT. INTL. 5A !?1 — srss 51075 

Jersey. PJ3 Box *1 Tel 0514 7W2* “ > N kko G jywth Package Fd 5 9.134X4 

Berrw. P.O Ban 2622, Tel 4131 2MB1 Nippon Fund 5 2932* 

—fdl Crossbow (Far EbsI) SFHXO j w1 ttavotac inv es t men t Fund— 59236 


Jersey. PjO.Boic 61 rel 0514 7602* 

Bernp. P.O. Bov 2622, Tel 4131 224051 

— (d I Crossbow [For Frw.M « . 

— fd I CSF (Bohuicod) SF 2539 5144X0 

—id 1 InlnL Bond Fund. - - 5 T 1 , 1 NjF F.l.T 5 155X1 

—Id 1 Int. currency U3 5 ,d J Fo^tJc Horlzon Investment Fd*8762S 

-(d ) iTF Fd (Technology )__ 5 13X6 I*, 1 fANC URRI Inc— 5 1697 

— Id I Olleas Fd (N. AMERICA] 5 27X6 ( r 1 Parto n Sw. R Esl Geneva 5F 1X97.00 

cor TRUST CO ( iFDirvi ■ rn (L l BfTSSi V" 1 ** N-V $1X45,64 

6BC TRUST CO.UERSEY) LTD. tb 1 PlularV-i 5101430 

1-3 5eole SI3L Heller .-05343A331 (wl psrn fmuu ■ iwn 

traced currency fund. Iw} rnff W' .._ * m j l 

Sirilr— : SH, 9SSL S?A51" (d ) Putnam l nr I Fund 5 58X1 

SI 0360 (b I Pr)-Twh « I CTSA 

1 ^N. a T i - 0ma| t. i .NCO me FUND (w| Quantum Fund N.V.— . S33393S 

id J Short Term A (Accumj 51X678 Id 1 Renta FimI . . ie-sacimi 

— } jAorl Term ;y (Dirihr) 5 1X156 (d ) RenttnveS r LFl^S 

— ! j ! J enn ~B fAccum)— . S 1.1208 id) Reserve Insured Depas/ts 5 /07736 

=IS ! If 3SS2. rS^fer - Y *^ S 
-.bij-FAustran ^^zr it?* isiaaESrfflStfsp* — ,«.ga 

w«assiMe== m 

— t»w) uovds inn Europe — SF 1 1040 (w) TweedyArowne n.vXlossA 1 £11134 
SF 175*0 lw> Tweedv.Brawnen.vXlossB 51X0823 
SF 311X0 ("J) Tw9edV.Brawne(U.K.lN.V._— 5 
5101X5 1600X0 

SF 13070 Id I UN ICQ Fm»d _ . DM7620 

(w» Llovds Infl. Smaller Cos. 51332 fd 1 UNI Bond Fund 599534 

NIMARBEN (djuNiziN , S!!lL!!f d 

dSL'ic^B- uA -j: - :: 1 ■ -I S-si [S, lkl-° s 

. r|g U r . ,n»,n c ,r£ i SZS"**r Fmanuul LM 5 10.15 

IV* , lhu l Japan 576X4 (m) Winchester Diver s! tw o— * 2233* 

w MJtarfd Fund Sjl 510X3 

i w Securilks 573 3V%- 543X5 

(w) Worldwide Special S/S 2Vk. 51X04X2 

DM — Deutsche Mark,- BF — Belgium Francs; Fl — Dutch Flortn: LF — 
Luxembourg Francs; SF — Swiss Francs; o — asked; + — otter prtces;b — bid 
change P/v 510 to 51 per unit; HA — Not Available; N.C.— NotCommipilcoted.o— 
New. S - suspended; S/S - Stock Sail): - - Ex-DIvRtaW ^ E» RtaM-- — 
Gross Performance index March; % — Redempt-Price- Ex-Caupan; •#— Formertv 
Worldwide Fund Ltd; 0 — Otter Price Ind. 3% prelim, charge; ++ — daily stock 
price as on Amsterdam Stack Exchange 


EBC TRUST CO.UERSEY) LTD. (b I Pleiades 

1-3 Seale SUL HHIer.-053+kai (w) PSCOFwSl 

TRADED CURRENCY FUND. |w} p|t8 ifl 

Wj*lQff«r 59351“ (a > Putnam Inri 

DldlCaa. : BM S10X3 Offer SI0J60 (b I Pr)— Tech 

INTE RNATIONAU NCOME FUND (w) Quontum f3 

— (5 > Owl Term 'A' (Accum) — 5 1X678 Id) Renta Fund. 

— jd ) Shari Term A (Distr) 51X156 (d> RentlmwSlI 

-}d J Term B' (Accum) — S 1.1208 IdJResenwm^ 

—Id 1 Shon Term -fl- (Distr) 50X553 (wl Samurai pS 

—Iwl Long Trrm_ S7IJI7 Id ) SCI/TecSi. &a 


— +(wi Llovds Inn GrowlTi 

cwl Llovds Inn income 

wl Llovds Int 1 , n. America 

w) Lloyds lnl'1 Pacific s 

(wl Llovds Infl. Smaller Cos. . 
NIMARBEN 

— (d I Class A 

— fw I Class B • U3. 

— (w ) Class C ■ Japan 


0,1096 *1% 22-7 

BUMS 9X0 174 

Bq Paribas nerp W0B H-6 

Eta Worms 19/94 91% 64 

Bardens Oseos 95 m% 30-7 

Barclays Own 98 99% 174 

SamanOsmapcrp 1-tJ 

Bor clays Owns W 1BV> 44 

Kingdom Of Bdg. cent 91% 124 

Kingdom Of Beta. 99/W «% U-5 

Kingdom Of Beta. 88 PA 314 

Bergaa Balk 89 94% 314 

Berm Bank Odn/91 9* IM 

Kingdom Of Belg. JNIM/D49W 67 
Kingdom Of Beta. Da 99/04 M, 11-K 

CagfB 9Vt 124 

Cace05 9M 156 

Cncq 90/95 9N 74 

cm 90 91% 24-11 

cm 91 im 84 

CHKB5 89% 284 

ate (WkM H in H 

CQk« TV. 187 

Cnrlerrl 5+L 94 9* 384 

Chaw Manhattan 93 «+. 31-7 

Onw09 «> Se 

OmnkoIBkM 9h 274 

Chemical rwkty) M M% 136 

Cbrtsttonta Bk 91 916 134 

Christ kmla 94 10t% 69 

CHIccrp (Vfkly) 0U0.19M 89% 13-5 

atkoraSeofW 9% 154 

anod96N 8*% 3V7 

Otknro94 Oh 124 

aiicnnaaeni 8v% 15-7 

OtteerpW P> 31-7 

CommenbankD Wi 21-5 

Conmerzbank Noy|9 101% 204 

Convn Urb Mont retfl991 I0i% 184 

Ccf 14/98 99% 269 

Cd 90/95 99% 9-H 

COMM 9% 224 

Cd 97 9. 224 

Cwmo 87/92 MB, 124 

CkximH » 64 

Crwir Du Nerd 0/92 91% 274 

CnM It Fond it S/93 9% 9-10 

Credit For Exp. 92 91% 1-7 

DLytxi 93/96 V%% 11-10 

CraaiLvmbl7 WA 234 

Credt Lyonnah 18/97 94 9-10 

Credit Lnxrab nm 99% 9-7 

Croat Lvomds 91/95 9k. 294 

Croon LvnanDhdec99 9k. 274 

Credit Lvenndh Ian92/H 9 11-7 

Crean Lrarah Hin92/96 9h 144 

Crea I National 88 9 U-7 

Credit Notional 90/W UR% 114 

Croat, NotlanolOa 935 784 

Crralhxrdolt94 9. 117 

CramonaMt96 9%% 274 

Dal Idd KangyoM W% 134 

DameOne+Nalurgasll 9k. 94 

DMNarsfctCrndiibknov989U U-5 
Den Norsk* CredhbkdecMnh 194 
Denmark hwa/90 9*% 9-7 


LWydi93 
Llovds 92 
Uovds M 

UcbrutOT 
Ud) 85 
Ltcbludff 
UdBES 
Ltd, 92 

Malaysia 94/09 
Malaysia 15 
Malaysia aur89/92 
Malavsia dec89/92 
Malaysia 88/93 
ManHanO/SeasK 
McnHon (Wkly) ki 
Marine MkSand 94 
Marine Midland 09 
Marine Midland 96 
MeOanBkW 
Mia land 93 


Mtalond92 96, 74 

Midland 91 9* 3VH 

Midland 99 10k. 69 

Mitsui Fin 96 Mtt +9 

I Maroon GrenUi 94 9. 117 

Mortgage Dwenart 90/93 Wft. 11-9 

Mortgage BkDenaiart 92 99% 154 

National Htefmins/eras rvt TS-IO 

NdBk Detract 96 99% 284 

Not Comm Bk Arabia 94 n% 214 

Hatfonal WestmfiKtorU 91% U-7 

NOltoWl W ollu M P« r91l n% 274 

NatlorxP WestmkBfn-94 91% UIB 

Nettonoi West mi nster 97 9X0 25-10 

Notional Wetfmkater two m 134 

Neste Ov 94 W. 274 

NewZeabaidS? 9% 9-10 

New Zeatand SNei 92 9V, 244 


TO 

3100 

9* 

+6 

M 

U-U 

9* 

72-7 

HRs 

1+5 

19 

IM 

9* 

17+ 

fV 

31-5 

TO 

KM 

n% 

156 

<n% 

9-10 

m 

M 

w* 

JM 

9* 

n-5 

9 

155 

9* 

W 

TO 

IM 

TO 

IM 

9* 

31-5 

9 

29-7 

TO 

3+6 

TO 

7-6 

TO 

31- IS 





NlppaaCradNBklB 
Nlpoon Credit Bk 15 
Nippon Credit Bk U 
Norific IM FM91 
0U> 16 
OR] 74 
08,95/99 

Offshore Mini no 71 
Offshore Mini no 16 
Pk«ai9l/94 
Pkbankea 99/91 
Queensland W 
Rome 91 

RroBk Dot las 97 
Royal Bk Scotknl 86/94 
Sal loma 91/93 
Sanwa ml. Fin M 
Sanaa 940004 
Sanwa int.FM 92 
Scomanovkm Fin aprtl 
Saindfnavfaa Fin decn 
Scotland Int Hn9J 
Security Pod he 77 
SndK 
Seal 90/73 


m TM 
91% 266 
91% 164 
HA 54 
W% 294 
«h 28-5 
9* ii-ia 
64 

7k. 237 
W% 274 
9>% 154 
Ml% 54 
MW 276 
M 265 
99% 167 
ft 54 
Vk 269 
8fk 257 
«i% 154 
•9% 15-15 
91% 214 

18h 24-7 

ID 714 
MW 30-7 
91% 244 



Denmark adM/90 
Denmark 04 
Denmark uerp 
Die Eril Oral J2/W 
DresdnerBankW 
Oresdner Bank V 
Dresdner Bank VI 
Eldorado Nudeor 89 
Edf 99 
Edf 95 
Edf 77 

E0b» 

I«SfV0 

Exterior intl 96 
Ferrovlo 95 
FerrovleVI 
FtNlMi Paper 95 
Firs Boston Inc 91/W 

R38B« 

First Intarstale 95 
Fun 94m 
GenBnoncs 89/92 
Genttnance 92/94 
GA89 
GXP92 
Gzhpora 
Gd)96 
Giro 91 

ifflss 

Great Western Fki 94 
Great Western 95 
HOI Samuel 96 
HHI Samuel Peru 
H Ison Airwrkmw 95 
Hydra Quebec 94 
Hydra Quebec (B 
tclndiatrtesvi 
lixtanesiaUm 


Iretand 96/99 
liekex)97 
Rep, Ireland 94 
Italy (Republic) 99 
Cikd87 
Italy B»/94 
JJ*. Morgan 97 
KOPfeM 
Kapinov92 
Kendra Oy 05 
KMawort Benson 91 
KM Heart Benson 96 
Korea Dev Bk 19 
Korea Exchange ■ 

< Uncolnfv 


51% 1610 
936 154 
«1% 84 
S* 257 
9V% 21-10 
93% 265 
10 274 

9% 304 
HUB 274 
91% 124 
*% 135 
HUB 39 
99% 174 





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91% 1)4 
ION 1+5 
99% 294 
90% 274 
UMS 30* 
89% 14 

in% zn 

91% 64 
ms 274 
93% 9-5 
Wl 34-18 
91% 21-7 
9X0 36 
9»% 167 
91% WO 
78 54 

183% 204 
n uv 

W% 368 
9t% 10-7 


SodeteF)nEuraaeenel9 n> 34 

5F£.*1 w% l«4 

Sadete Generate 90/95 IMS 69 

SaddcGoneraleia 101% 54 

Sadete Generate Mar 94 1IM IS* 

SocJefr Generate nov94 N% 7-11 

SocMeGawral97 HM 14* 

Sncbll 103% 265 

Snoln [Kingdom) *2/77 H1X0 274 

Spain 05 VH. 235 

Kingdom Of Saain 93 ms 306 

Spam99 936 3-5 

Standard Chartered Aua 90 9% 194 

Standard Chartered M 91% 67 

Standard Chartered 91 M3% 35 

Standard Chartered mam 10%% IM 

IS?S?MS”” S' & 

Sumitomo Trust 92/94 W% 154 

Sweden 98/85 W. M-7 

Sweden B9/W99 91% 35 

Sweden 73/83 HH% 20-5 

Sweden perp 9k. 67 

Sweden 92/15 Bfc 204 

Talyo Kobe 92/84 MK 204 

Takugbi 72/54 M« 16* 

TakafAstaLM 54/99 *9% 136 

Toronto Domkwor 92 99% 1*4 

T»»o Trust 72/99 99% 144 

Tvo 54/84 91% 54 

Union Bk Norway 99 9% 214 

United 0/SeasBk 09 91% 266 

Wells Fargo 77 9A 134 

Wtlltwra+GlynsTl W% U* 

World Baft 74 8X9 31-5 

YakBbama 91/94 93% 2-TD 



32U TS PHH XB 13 12 89 31 

48 248% PPG 160 46 1 138 » 

2*1% « PSA 60 24 S3 111 2J» 

1*3A 139% PSAOPf 160 96 62 193% 

UVk 111% PdcAS 144 116 53 TJV. 

181% 13 PoeDE 1X2 9J 7 4T3* MU 

44X% 3CR% PacLtg £32 SX II 332 429% 

3 21 Ve PdLura l-'K 46 15 54 IK 

99% 3% PocRca J05r 6 3 88 *3% 

19 13D% Pacta pt 2X0 11.1 17 18 

171% 117% PscSd X0 26 17 22 HU 

73V. 44 POCTete 5X2 U 8 1642 6S9% 

13 TO PtocTTn XD £3 TO 17 Wl 

284% ZT% Podfcp £32 8J » 341 281* 

335% 271% PoettBf 4X7 T2X 32 31% 

43% 23 PcfoWb 60 16 49 770 IS 

34V% 261% PolflWnfZXS 76 295 291% 

39 269% Palm Be UO £3 17 752 381% 

25V> 20V% PanABk 39 IX I 15 2CVk 

Ok 4 PonAXB im 5 

34% 136 PanAwT 157 24% 

21 131% Panddcn 30 1J 19 186 134% 

3TO 31 PanftEC £30 66 10 1*90 35 

SV. 3 PuntPr U 421 54% 

199% 129% Paprcft X0 44 14 304 U 

189% 10V6 Pardyn 32 369 121% 

211% 12V%PorkEl 10 19 144% 

12% 51% PurtOrl .16 £4 256 61% 

3*4% -25V. ParkH 1.12 39 9 225 2M% 

191% 13 ParkPn 62 £8 71 74 184% 

29A 11% Pat Ptrl H M » 

174% 114% ParNP 60 4X 11 155 1 21% 

214% 131% PayCsn .16 X 18 589 204% 

mi 6(6 PBOOdy 30 23 167 79% 

19k Penas Si 9% 

361% 419% PenCen 11 312 524% 

559% 469% Penney 234 41 8 1206 469% 

2F4< 20+2 PaPL 26* 106 ■ 1124 24H 

361% 301% Pc PL pf 6X0 126 lOOl 3«fe 

TO 5794 PaPL Pf 860 126 300x 484% 

279% 234% PaPLdnr3X2 12X 21 279% 

249% 20 PoPLdorXW T£0 2 2*4% 

67 541% PaPL pr 8X0 126 370x 649ft 

27 229% PaPLdpr02S 1£1 13 279% 

2994 2S1A PDPLdDr£7S 126 28 304% 

84V, 654% PaPL pf 9X4 1DX 501 861A 
96 81% PaPLOTlIXO 11X HOOc W4% 

65 544% PaPL pr BXO 12X 100c 62 

70 534% PaPL PT 8.70 11X 5Dx 67 67 

«\U 311% Ppnwft 230 4J 11 3T9 35 34 

259% 20 Penwpf 160 7 3 17 22 Z14h « 

529% 309ft Penraot £20 +2 24 2557 544% S29t S3 +4% 

179% 94% PeanEn UO 73 7 3W 464% 144% 164* + +, 
30 23V. Pep Boy XO 1.1 14 21 379% 37H 379% + 4ft 

55V. 3TO PepsiCo IXH JX 22 2825 5»% SF ) 6 3211— 16 

3rn 179% PerkEl 46 £4 13 899 2146 22*% 229%— 4% 

104% 79* Pnmlaa U4eMJ 877 89% 89% 89%— 9% 

221% 124% PervDr X8 16 13 219 184% 174% 17»— 4% 

3TO 2B Petrie 1X0 36 14 140 27V. 364% 37 

30 249% PefRs 3X2*111 44 274% 269% 27 

169ft 14 PetRlPf 147 66 35 169ft 169% 169%— ta 

“ Ptrl nv 1X0*216 43 49% 49% 49ft— 4% 

Pfizer 1X8 £4 14 1701 441% 434% 441% + 9% 

PhtrinO 2Z1S 199ft 194% 1*9% + 1% 

PbetPPT 5X0 10X 6 469ft 464% 469ft 

Pblbrs 64 IX 24 3983 38V. 3744 379%— 9% 

Philo B £20 14.1 6 53W 159fc 15V% 159% + 1% 


2TO— 1% 
144%— 4% 
324%— 14 
3S 

44 +1 

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259%— 4% 
29 

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309% +9% 
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114% + t% 
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419ft— 9% 
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384%— 4% 
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341% + 9% 
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289%— 4% 
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Sabine £4 X 21 WlJ 
SabnRy mill w 
IMBI 3A IX M 215 
SfBdSc as M 

SMSel ^ _ ,JS 

Serf King .XB U 22 W 
satawv 160 *.» » 

Soap X IX IT 331 

SUoLP 1X3 IX 7 60 

SPWX 1X0 1U 54 

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S$Gm* .U 6 14 947 

SOHMPf fO< 76 20 

SOteSs IH U ■ M 

SJaanB JOelBX 40 « 

Sonar 66 IX 14 2369 
SAaffm 1.94 U 12 192 
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Sara Lee 1X4 36 TI 448 
SgmSH 140 D H 7 

SartRE X0 LI 4ft 2 

savEtP ix Li 7 m 

SovEA 1X4 AX 1 

save pf us iix 3 
Savin 127 

Savin of UO 1£X 10 

SCANA £14 U I a 

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Schlmb IX U 9 3747 

SdAII .12 U 17 587 

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sanPer . u w 

scam* 1X4 XS 9 SU 

samvs 61 £9 10 107 

SeavUl 14 13 

SeaCitf X3 U 6 223 

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BeaCpfCUO 136 53 

SeaLdn xi 26 6 24(2 
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Seaarm XD 2X f 1048 

Seosui 14 86 

SealAtr XB 76 14 m 

SealPw 1X0 46 7 3*6 _ 

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Sean tS U I 3321 am zn% an + t% 
Sears Pf 1X4* 86 5 1039b HD9% 1039% 

314ft If SecPOCSlXZ 46 7 964 2714 2696 271% + lb 

209% lint SelpU 68 179% 171% 179% 

359% 234% SvcCPI X0 16 14 712 Xtaft 314% 31*ft 

309ft in* ShaUpp 31 53 n 90 1396 mb 139% 

251% law Shovrtn 60 U ft 97 1914 mb 19—94 

40 529% Shelio £00 IX 11 4 599% 599% 01% 

3914 2B» Sbvtrr 1J7* 55 5 3227 344% 35V 36 + 4% 

3014 1714 SMGU 60 £1 6 1447 2614 259% 259k— lb 

324% 184% ShelOpf 1X0 5.1 1 279% 279% 279k— 9k 

3544 2« snrwln 62 26 13 3*1 35M 34 189% +114 

814 41% Sllaetwn 6 71 614 69% M-U 

189% 13 Shawbf 60 46 13 * UH T1V% 134% 

179% 129ft SerPac 1X0 9X I 127 17 Wife 17 + 1% 

37 241% Slanal 1J» 29 1310154 349% 33 344% + 9ft 

599ft 489fe Sfgnlpf 4J2 7.1 82 584% 58 514%— 9% 

381b 24 Stager .10 J 1 348 Jfli 3Mb 3414 

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304% TO Smtthln 62 3X » Kb WIUW 

6444 509% SmkB £80 O M 4006 649% 619ft 649% +31% 

579% 3644 Smuckr U0 £0 14 33 5314 519% 5344 + 9% 

419% 3*14 SfiaoOn LW 32 13 85 3*4% 3594 3* — 9% 

4X4 27 Sanat IX U I IM 3914 38 39 +194 

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299% 229ft SaaUn U0 42 14 171 2TO 289% 289% + Vft 


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171* 179* + 1% 
151% 15*6 + •% 
89* 89% + lb 

11* 11% — 1* 
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5314 531ft + 9% 
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299% 299% — 9k 
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119% iWb 
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3914 389% UTchpf £55 76 443 34b XI 331% —1 

241% 174% UnlTM 162 u 9 587 22* 229% 23H— * 

91 UU UWRi U8 46 12 31 18* 189% 10* + 9e 

33* 22 UntfrOt XI 6 IS 48 25 24* 25 + 4% 

22* ITO Utlhar JO 42 7 35 19 WU Wb- 4b 

27* ITO UnivM UM 4X .1V 3 24* 94* 34* 

23* 1514 UnLea, 1X0 53 7 409 1*94 1914 It* — 14 

53 30 Unocal U0 £4 11 4868 6414 65* 65*— * 

IS* 45 Uotaftn £54 26 17 4087 87* II* 87* +44% 

a 23* US LIFE 1X4 2X 11 48 3814 37* 38 - to 

to TO uaifePd UtaHU * w m u + b 

25V% 20* Ufa PL £21 96 13 353 23* 234% 23* 


24* 17* Staley 
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PnflEpf 468 131 » 

PWIEP( 8X5 14.) 30 

PMIEPf 1X1 136 211 

PMIEpf 1X3 136 72 

PMIEPf 765 119 200 

PMIEpf 1X8 115 25 9* 94% 

Phil Pf 17.12 14X 1D0Z119 

PMIEpf 15X5 14.1 US7DZ10B 

PMIEpf 9J0 143 40: 464b 

PMIEpf 7X0 141 30Z55K, 

PMIEpf 7X5 UX 30x 54* 

PMISub 1X3 41 13 67 21)% 

PMIMr 4X0 66 II 10529 84* 

Phflpln X8 15 ID 607 WJb 

PMTPef 1D0 73 8 3198 394% 

Ptim/H X0 16 * IN 221% 

IX 8 413 

7X 9 14 31* 

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20x 34 34 

30x 42 62 62 —1 

211 10b KM 10*— to 
72 9* ** 9* + * 
20* 34* 55* 54* +1 


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119 +» 

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53*+ V, 
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25* 18 SCallS. 264 8.1 8 2207 254% 24* 25* + * 

20* 14* SautbO, 1X2 96 4 923 W* 19* IM 

25* 17 SoinGlf 1J0 U 7 36 2Sto 34* 24*— Vk 

41* 29 SMCTl 132 46 10 3H 40* 39* 60 — * 

36* 31* SoNEpf 362 tax 12 34* 34* 34* + * 

48* <1* SoNEpf 463 1QX 30* 44* 64* 44* 

34* 21* Softy of £40 WJ 2 34* 24Vfa 244ft 

31 23 SoUnCa 1X2 42 120 28* 27* 27*—* 

35* 23 Sou find 1X03X 9 69829*29 29* + * 
17 1114 SoROV .12 6 II 306 16* 14* 16*— to 

8* 6V% Soumrk XB £8 4 417 TO 6* TO— M 

84* 48 Sonde p( 7.12a MX S 49* 4*44 4984 +lto 

26 ITO SwAJrf .13 615UD*229k321422* + * 

22* 11* SwtFar 27 172 1214 12 Uto + 14 

16* n* SwfGas 1X4 76 U 131 14* 16 14* + to 

78 SI SwBaU U0 11 I 895 74* 73* 76* + * 

28* m. SwEnr X U II 67 27* 27 27*— * 

24 17 SwtPS 161 £0 f 379 23* 33* 23*- Ml 

17* 11* Spartan 62 U 43 31 13* 09% 13*— to 

27* Mb SpectP 23 IN 17* 17* 17* + * 

54* 33* Sperry 162 36 10 4491* 52* 6814 69* + * 

38 30* Springs IX 47 » 6 32* 33* 32*—* 

63* 21* SouorO 164 5.1 10 741 MV. 35* 36 + * 

SB* 37* SOUR* 1X0 26 15 712 56* 55* 54* + M 

24* 17* Staley 60 4X U 712 19 18* 18*— * 

211ft 16* SIBPnt 643X 11 23220 19* 20 + * 

20* 11 StMotr J2 25 11 181 12* 12* OH + * 

50* 39* SWOQh 260 SJ > 37M 50* 49* 4TO— * 

U* A* StFocCft 9 9* 17 Uto ITO + * 

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38* 19* StoRWk 64 IX 10 4327*26*27 + to 

35* 23* Stamrtl 1J» 36 Tl 50 33 33 33 — to 

10* TO StoMSe UOollX 29 184b 10* Wb + * 

3* 2* SfpeflO .12 £6 T7 TO 3to 3* 

20b 14b S torch! .74 36 10 27 If* 19 19* + * 

11* 94% sir men 74 49 * 23 11 10* 11 

33* 23* StoriDo UO JJ 13 5738 32b 31 31* + to 

15b STwvtU UO 76 M 145 17b ITO IT* + H 

27* SlwWra 1X8 41 W 21 27* 27* 27* + to 

65* 32* StafieW 160 £7 9 33 43b 6ZU 42b— * 

39* 25 StaneC X0 £3 9 62 34 25* 25*— * 

53* 35 3tOP5ta> 1.10 24 10 47 454% 64* 45 + b 

21* 15* SforEa 164 *2 U 17 20* 20 30 — to 

12* 2 vIStorT 597 2* 2* 2b 

79* 33b Staler X0 J 1920 Mb 75* 75* + M 

21* 18* SirUHtn XOe £1 51 19 in MB 

18b 14* StrldRt 60 SX 27 35 15 14* 14* 

8* 3* SuavSft 5 5* 5* 5* 

33b 21* SwiBks 1X0 3X 11 355 33 33* 32*— to 

354ft 24* SunCh X8 IX 10 • 34* 34* 34*— to 

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59 43* SunCo 2X04X 11 1343 51* 51 51* + * 

27 b M* SanCpf 225 £1 . 4 186*104*104* 

69* 36* Samtatr 160 66 11 1338 41b 40* 61b + b 

,TO 7* SimMn M 344 ■ 7* 8 

34* 24* SuprVt 61 £1 11 167 32* 32* 31*— * 


25b 24* UtPLpf £80 TU 
Wx 2Mb UtPLPf 260 1U 
19b U* UlPLPf 3X6 Ml 


14 25* 25b 35* + U 
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7 19 18* 18*—* 


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1X4 M6 58 23* 33* 33* + to 
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62 4X 6 9821 20*30* + * 

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83* 48* 4/QEPpf 9XS 126 

46* 52* VMTPfJ 7X2 11J 

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21b 11* Vtahave 14 

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71 60* VMaM 260 18 11: 


244 43 41* 41*— 1* 

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300X81* 81* 81* 
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50X 62 42 42 

1 19b 19b lWk 
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29b 22 WICOR 2X0 M 8 22 

374k 21* WOChvS 160 £8 tl 192 


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48* 34* WOfiMrt XI 6 




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10*—* 121 b *a* SanCpf £25 £1 


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34* 24* SuprVt 60 £1 11 

Mb 19b SiOHHkt X2 1.1 13 

17* M Swank 60 66 16 


sybroa 1X0 A6 10 213 u 


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Amendment to 
Notice of Redemption 
Export Development Corporation 
US$100,000,000 
12%% Notes dne Hay 15, 1987 
-Series HU. 

Notice is hereby given that Export 
Development Corporation intends to redeem 
on May 15, 1985, the US$81,000,000 notes 
outstanding for the 12%% Series MU Notes due 
1987 at a pnee of 100%% of the principal amount 
together with interest on such principal amount 
accrued and unpaid to the said date of 
redemption. 

The redemption price on the said Notes 
shall be payable on presentation and surrender 
thereof with all unmatured coupons at any one 
of the following paying agencies: 

Bank of Montreal 9 Queen Victoria Street, 
London EC4N 4XN, England. 

Banque Internationale a Lmcembaurg 
2 Boulevard Royal e, 2953 Luxembourg. 

Bank of Nova Scotia 66 Boulevard de 
LTmperatrice, 1000 Brussels, Belgium. 

Bank of Montreal 37-39 Ulmenstrasse, 

D-6000 Frankfurt, W Germany. 

Bank ofMontreal Trust Company 
2 Wafl Street, New York, N.Y. 10005 USA. 

NOTES should be surrendered with all 
coupons appertaining thereto maturing after 
the date fixed for redemption, failing which the 
face value of any missing unmatured coupon 
will be deducted from the sum due for payment 

Any amount so deducted will be paid 
against surrender of the missing coupon within 


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Soles figurea ore une f llc ta L Yearly htgtn and lows reflect , 
the previous 52 we Bits plus the currant week, bat not the latasT ' 
trading day. Where a wilt or slodc .dtvWend amounting to 25 
percent or mere lm bean paid, the year’s MgMawranae and 1 


JO £5 17 61 8^ 8^ 8^— * I dividend rare atowntartha now stack only. Untoaafharwtsa 


68x35* 35b 35* + b 


the notes will cease to accrue 

Dated March 18, 1985 

EXPORT DEVELOPMENT CORPORATION 




8 

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160 

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782 

274k 37 

2716 + to 


Britain’s Jobless Rate 
Held Steady in April 

The Associated Pros 

LONDON — Britain’* unemployment rate 

noted ratal of dMdondS are annual disbursements booed an held Steady at 1 3.1perceu in April tbe gOvem- 

ttw latest declaration. * mem announced Tnuisday. 

q — dividend cten eidra_(S)7 1 , _ The number Of JOblCSS BrflOTS WSS & record 

high of 3. 177^00 on a seasonally acljusted basis, 
etd - cnitacL/i Employment Secretary Tom King told a lele- 

- n Vision interviewer that the British economy was . 

a— divtdwid declared or paid hi preceding UrnanthsTl m . Mtl - • , , , T ,, , , , . 

a— dividend In Canadian Hinds, subject to Uto MXMasldenca QlSpy ntfW lOoS, ana he thought (he 

fax. latest statistics could be “an erratic figure.” 

He said 340,000 jobs had been created in the 

L mSmSSSSS^ past year, “but what we also know is that ue’ve s 

k— dMdeod de ctara d or poM Wl vaor, an aecumitattve got 3 lot more people m min a into the labor 
IsweiNtlhdlulctands In arrears. force.” 

n— new taeueb, the past S3 weeks. The lUghXaw ranee beams >T , , 

erftn me start at trading. On an unadjusted basis the number of unem- 

nd— next day deitYerv. ployed was 3^72,565, or 13^ percent Of the 

r— dividend decia™ or cxdd in nraceoina ,2 manfiH. ptm i®bor force, the Department of Employment 

Stock dtvMend. Said. 

% — stock split. Dividend begins wttft dote at snllt 

Mg— sates. 

1— dividend paid In stock in preceding U months, estimated n i . 

cash value an ex-dhrtdend or ex-dtstmeitlan data. KOarnin/Y 

u — new yearly malt IvCdLI UIlKlViUlC 

v — trading halted. ’T’l r T'l'-+ 1 C 

vl — In b an kru pt c y or receiv ersh ip orbehiB rearaanlaed an- | H3D 3 I hTTn Olfl 

aer toe Bankruptcy AcL or securities assumed hy each com- * ■T't.Tj. 1 “ 

ss^Utadwrttutei Million Readers 

r-St* in 164 Countries 4 

S.-SSS5. Around the World 

y— taKHvhSondendiatealnttrfL vMnv4m\.9 

^ntatofuiL Hcralb^^^eribuiic 


ID 104 TO 

1.12 17 7 83 305% 

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_ 520 ITO 

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2X4 6J 18 92 3H 

l.U £3 9 2169 STO 

£08 £4 9 375 58* 

9 1132 47* 

X0 16 31 589 22b 

67% X 28 69* 2SH 

X4 43 16 166 181% 

,, 54 TU 

64 42 TO 4 15* 

1.12 U 14 125 29* 

-12 16 49 M2 9* 


4*— b 
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18*— to 
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38* 

34*— to 
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47*— to 
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25* + to 

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+ 

* 







— — 




17 

49 

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to 47 





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+ 


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2J0 4X 13 6B 47* 4fito 46*— * 


On an unadjusted basis the number of unem- 
ployed was 3.272,565, or 13.5 peroent of the 
labor force, the Department of Employment 
said. 


Reaching More 
Than aTnn-d of a 
Million Readers 
in 164 Countries 
Around the Worid 

iicralb^^Sribunc 














Statistics Index 


*VWEX prices p.14 
AMEX W(Xttfl«WP.14 

»YSE prices P. e 

NY5E KlatasAMs P.12 
Canadian stock* p.ig 

Currency met p.n 
'entmocOlies p.u 
■vuands P.14 


Eornmn reports p. 17 
Fttog me ootss p.ij 
G old morVflis p.ij 

Inlet ©a! mtM P.13 

Marker summary p. g 
Options p.u 

OTC stack p.14 
ORnr mortals p.ig 


FRIDAY MAY 3, 1985 


jteralh^K&nbiine. 

BUSINESS / FINANCE 


U.S. Stocks 
Report, Page 8 

Page 13 


TECHNOLOGY 


J Europeans Debate Value 
'j Of 'Star Wars’ Research 


By BARNABY J. FEDEB 

New York Tima Service 

I ON DON — European business executives are in a quandary 
about the wisdom of President Ronald Reagan's “star 
j wars" research program and proposals for Europe to 
join in. Many think the program will have a major 
impact on the development of a wide range of key communica- 
tions and materials technologies, but they arc deeply split over 
. whether Europe stands to gain or lose by participating. 

^ Die divisions were evident in Munich last week, where the 
Geneva-based Institute for Research and Information on Multi- 
nationals and The Financial Times conducted the most recent of 
W a string or conferences catering to the fears in Europe about its 
lagging performance in com- 


panson with the United States rr. . 

and Japan in developing new x uc ▼ icwa rcucu 

llS^ haied 0,1 broad concerns about 

The vwvs expressed there European technology 

-and elsewhere m the debate on r w 

the Strategic Defense Initia- development. 

live, the “star wars" program's I. 

-formal name, reflect broad 

concerns about European technology development. The most 
important is the hobbling effect in many fields of the lack of a 
■ true common market in Europe. 

“If Europeans do not participate in the Strategic Defense 
1 > Initiative or pursue a similar program on their own, as France has 
, suggested, they will have to accept that they will be completely 

- unimportant technically, politically and socially for the rest of the 
' century," warned Leo Nefiodow, chief adviser on information 

- and communication technology for the Society of Statistics and 
j Data Processing, a Bonn-based software company. 

/ “If you are a backward market and rely on natural demand 
. ■ development, you are cementing your disadvantage," he said at 
the Munich conference. 

Mr. NeGodow said that International Business Machines 
Corp. in particular and the United States computer industry in 
general had obtained an invaluable advantage over the rest of the 
world as a result of heavy military and space agency spending in 
_the 1950s and 1960s. His conclusion: SDI research would give 
.. those participating a similar leg up in decades to come. 

F RANK S leinhihte r. a top official with IG Metall, West 
Germany's largest labor union, disagreed with that inter- 
pretation of a $26-bfllion SDI research investment He 
pointed to Japan's success at developing technology-based indus- 
try with virtually no military-related spending. Other speakers 
chose not to refer directly to the “star wars" debate, but reached 
conclusions inconsistent with a heavy European investment 
“Do we want to produce leading-edge technology in European 
■ laboratories and research centers, or is the ultimate goal really 10 
- create permanent jobs and internationally competitive compa- 
nies?" asked JS. McGregor, the chairman of Honeywell LtcL, the 
British subsidiary of the US. electronic products and controls 
company. “If the answer to the question is the latter, perhaps 
what we should be striving for is pre-eminence in the commercial 
application of technology " 

It does not take an observer long to encounter deep skepticism 
about how much Europe might gain from investing in American- 
. led "star wars" research. Business executives who identify them- 
selves as supporters of the Strategic Defense Initiative say that 
United States companies would fight successfully to exclude the 
• Europeans from portions of the research program that seemed 
likely to have valuable spinoffs. 

Because European companies must develop new technology in 
small domestic markets, it is harder to recover costs quickly. The 
' effects of the restricted market are worsened in many cases by 
other problems, including less access to venture capital; less 
flexible labor markets; risk-averse managers and customers, and 
* government protection of state-owned monopolies in such key 
areas as telecommunications. 


Currency Rates 


4 PM 

S 

( 

D.M. 

FJ=. 

ILL. 

GMr. 

BF. 

SJ. Yon 

Amstordoni 

1546 

4J4I 

11X99* 

3706 • 

0.177* 

— 

SAM • 

13440*141.11* 

■ Bnm dual 

as r 

773) 

20.121 

44015 

2.1605 * 

17823 

— 

24005 2535* 

■ Frankfurt 

3.156 

U44 

— 

3ZJ9- 

1540 X 

8252 * 

4.77 * 

11979* US* 

London (bl 

1-222 


38668 

11743 

245250 

4372 

77425 

12355 308475 

•Milan 

ZA13JD0 

244X90 

63780 

209.10 

— 

5*450 

31486 

759.30 7778 

TtevrrortrtO 

— - 

0.822 

3.178- 

94* 

202200 

3589 

6 X*0 

24675 25295 

Paris 

MS 

7IJ82 

305 

— 

478 X 

24*95 

15.152* 

343538285* 

- Tokyo 

2S250 

310.94 

8047 

2640 

1264* 

71.13 

39977* 

96.19 — 

'ZoriCk 

2455 

34401 

83.9SS* 

37045* 

0.1313* 

74.145* 

4.165* 

10*VS* 

.*1 ECU 

0.7042 

0353 

32371 

60232 

142&J5 

25377 

45BJ22 

14766 17X501 

T SDR 

0.9S35V7 

040768 

110423 

944515 

1.98047 

35075 

624682 

24041 2*3309 


_ V Cmimcr 
Eml»- 

Ojxs* Austro tons 
QMA3 Austrian KkUIlM 
00158 MoiaaflB. franc 
07777 Canadian! 

00*75 Doabk krone 

Ois« FbmM markka 

00073 Greek dracbma 
01284 Hone Kao* 1 


Dollar Values 

Euniv. J 

0997 Irish £ 

am i Itrotu shekel j 

13SU Kuwaiti dinar a 

04831 IMUT.rtOMIt J 

1W99 Norw. krone 
0f5«2 PMineso 18 

00057 W.turio 1 

0277 Soon rival 3 


EM*. C *' 7 “* T UiS 
04477 Singapore! 2335 
tSD $. Africa* rend 1.988? 
00017 S- Korean won MOSS 
00058 Spaa, nettle 17110 
0.1094 StMtano 9.14 
04251 Taiwan 5 JM7 
atom Thai baht 27345 
02723 UJLE. dirham 14729 


•SMtftof:U339 irHhi 

la I Ccxnrmrckal Irene IDI Am aunt; n eeded la buy one Pound let Amounts negate In Du* one aoBarfl 
Units oi 100 U> Units ol low in Units o< lOuOOO 
HjQ--. not auotad; NA; not available. 

Sources: Bamwe du Benelux t Brussels): Banco Cammerdale ttallona (Milan/; Bcutoue 
Sattona/e dtr Paris (Parts); IMF t SDR); Banaur Amor n Internationale d 'In vestlssemenr 
(dinar, rival, dtrfom). other data from Reuters and AP. 


Interest Rates 


Eurocurrency Deposits 


Swiss _ „ French 

Dollar D-Mark Franc Sterling Franc ECU SDR 
IM. gJ* - Blft 5W-5>A S ■ S'* 17*. • 17 Ih 10«h-10». 9* -**» 8* 

WL BVj • Ota SM -S7k 5Vh - SV. Wvw- 12 *. 10* - 10-ft W* ■ »“j 8*, 

3M. 8S0-0M 5* - 5% 5 H. - 5 N J2M - »2*i 70 h. - JO *. » r. ■ in, 8'., 

4M. me - 9 sat - t 5V, • 51% IJ* - iTft to* ■ IQ 1 * 9 *» - • «Vj 

IY. *7. ■ 9% 4 • 4Vft 5Vk ■ S\* 12 ft. - 12 «h 10 *h- 11 •*«%.- «4w 

Rates oppllt vote to Interbank de p osi ts 0* SI million minimum (or equivalent). 

Sources: Mama i Guaranty taoHar. DM. sf. Pound. FFI; Uovds Bank lECUi: Reuters 
‘(SOP). 


Asian Dollar Rates 


Into, 
r* -si* 

Source: Reuters. 


Ihmv 
Bh. -8% 


Key Money Rates 

United States cune pre*. Britain 


-Discount Role 
•federal Funds 
f^rlmo RaM 
* Yofccr Loan Rate 

Co Vim. Pager. 35-179 ifavs 

j. month Traesurv Bills 

vmrYirh Treasury Sills 
CO-*y»-S9 HOYS 

CD's .po-89 davs 


Lomb ard Oate 
Overnight Raw 
One Month intercom. 

3- moniri interbank 

4- mcnlh 1 ft t arbor, k 

France 

Inter vwnliQn ROW 
Call Money 
One-month interbank 
3- month Interbank 
e-mqnltt Interbank 


t B 

W 9 

mv, ia.ft 

914.91ft 8MJJI- 
HO 025 

770 7.72 

JLD0 AM 

7.95 7.90 

005 7.9S 


too ADO 

5-BS 5.90 
5.90 585 
600 640 

AID 4.T0 


lOlA IO'k 
10*4 1QU 
I0U 10 5/14 
10 S/16 IW 
JW* ID* 


Bank Base Rale 
Can Mena* 

•t-dov Treasury Bill 
3-manlh interbank 

Japan 

OlKoiml Rote 
Coll Money 
60-da* interbank 


Gold Prices 


Sources: Reuters. Comment tank. Credit Lv- 

anaais. Ltuvds Bank. 80nA Of Tokyo. 


Hutton 
Cited lor 
Fraud 

It Pleads Guilty 
To 2,000 Counts 

Compiled by Our Staff From Dispatches 

WASHINGTON — EF. Hut- 
ton & Co. the fifth largest Ameri- 
can investment firm, pleaded guilty 
Thursday to 2,000 violations of 
U.S. mail and wire-fraud statutes 
stemming from its handling of 
checking accounts at commercial 
banks from 1980 to 1982. 

The firm agreed to pay a S2- 
miliion fine, plus $750,000 to de- 
fray the costs of the federal investi- 
gation. Hutton said the funds bad 
already been set aside and were 
reflected in reported earnings. 

“The essence of the charges was 
that Hutton obtained the interest- 
free use of millioas of dollars by 
intentionally writing checks in ex- 
cess of the funds it bad on deposit 
in various banks." the Justice De- 
partment, which had filed a crimi- 
nal information against Hutton in 
U.S. District Court in Scranton. 
Pennsylvania, said in a statement 

The agreement also calls for res- 
titution to the estimated 400 banks 
involved. 

Hutton said the practices to 
which it pleaded guilty did not in- 
volve or threaten customer or client 
funds. Hutton slock plunged $3 on 
the New York Stock Exchange, to 
S29.50 a share, when it reopened 
for trading Thursday after a com- 
pany-requested trading halL 

Hutton said the practices were 
stopped immediately when they 
came to the attention of senior 
management in early 1982 and 
have not reoccurred in the past 
three years 

The criminal information 
charged that “during the course of 
the scheme. Hutton's drawings 
against uncollected funds totaled 
more than SI billion, with daily 
overdrafts sometimes exceeding 
5250 million." 

The purpose of the scheme, it 
said, was “to obtain the daily, inter- 
est-free use of millions oT dollars in 
bank funds, thereby avoiding the 
necessity to borrow funds at inter- 
est rates which, during the course 
of the scheme, reached an annual 
race of 20 percent." (AP. Reuters) 


Tracking the Money Launderers: 
U.S. Officials Look to Switzerland 


By David B. Tinnin 

International Herald Tribune 

ZURICH — Swiss bankers 
are bracing for yet another U.S. 
attack on their financial prac- 
tices and cherished bank-secrecy 
laws. 

This time, U.S. officials are 
calling for Switzerland to take 
steps to counteract what they say 
is the growing role of Swiss 
banks in money laundering. That 
is the catch phrase for the con- 
version of money earned through 
such illicit enterprises as drug 
dealing into either "dean" cur- 
rency or financial instruments 
that betray no trace of the own- 
er's c riminal activities. 

According to Reagan adminis- 
tration estimates, criminals laun- 
der about $60 billion a year with- 
in the United States and another 
S5 billion to S15 billion a year 
abroad. 

For their part. Swiss bankers 
deny that they are knowingly en- 
gaged in money laundering, al- 
though they readily concede that 
already laundered money may 
on occasion find its way into the 
normal flow of currency transac- 
tions between Switzerland and 
the United States. U.S. financ ial 
institutions also deny that they 
are knowingly engaged in money 
laundering. 

The latest pressure is generat- 
ing some anxiety in Swiss bank- 
ing circles because several previ- 
ous encounters with Washington 
have left the country's sancro- 
sanci banking laws a bit benL In 
the late 1970s, for example, the 
Swiss bowed to pressure from 
Washington and agreed to open 
to U.S. investigators the bank 
accounts of persons accused of 
breaking U.S. criminal laws. 

More recently, the Swiss gov- 
ernment was obliged to stop 
holders of anonymous fiduciary 
accounts from using them to 
evade U.S. tows against insider 
trading, the practice of buying or 
selling slocks on the basis of in- 
formation not available to the 
general public 

There is also the celebrated 
case of Marc Rich, a commod- 
ities trader who fled the United 
States to escape criminal prose- 
cution and who found sanctuary 
in the Swiss financial enclave ol 
Zug. After a series of acrimoni- 
ous exchanges, cbe Swiss finally 


mat currency 


U.S. Pipeline Firms Set 
$2.3-Billion Merger 


Lota interbank rales on May 2 , excluding fees. 

Official firings for Amsterdam. Brussels, Frankfurt, Milan, Paris. New York rales at 


12W 12W 

I74t !7*k 
17 1/14 17 1/14 
124. 174. 


5 S 
4>M 4 1/14 
6ft* 6H 


pal an* 

Hang Long 31L05 31585 — (LTD 

Lu.amooura 31510 — — 95S 

Porn f >25 *Uo/ 31508 SUM — 1 1.07 
ZorKtl 315 DO 31115 — 735 

London J1L2S 11525 + 025 

New York — SUM + 1.10 

Oilicrti li.Inn tar London. Paris and L«»env 
bou*g. OMfilng and dasuic or us lor Hang Kong 
and Zurtcn. N(. *ar* Came, current contract. 
All nr i cm In UiS oer ounce. 

Source; Reuters. 


The Associated Press 

OMAHA, Nebraska — Inter- 
North Inc. and Houston Natural 
Gas Corp. announced on Thursday 
that they would merge to form 
what industry officials said would 
be the first border- lo-border. coast- 
to-coast pipeline system in the 
United States. 

The companies said a subsidiary 
of Omaha-based InterNortb would 
soon begin a cash lender offer for 
all common shares outstanding of 
Houston Natural Gas at a price of 
$70 to be followed by a merger. 

The total price of the transaction 
was estimated at S2J billion. 

A stipulation of the offer is that 
at least naif of the Houston Natural 
Gas shares outstanding be validly 
tendered, the companies said. 

Houston Natural Gas also gave 
InterNonh an option to buy 5.9 
million shares of Houston Natural 
Gas at $70 per share and an option 
to buy two-thirds of the stock of 
certain of Houston Natural Gas's 
Texas intrastate pipeline subsidiar- 
ies. including Houston Pipeline 
Co., for S867 million. 

The definitive merger agreement, 
approved by directors of both com- 
panies, was announced by Sam 
Segnar. chairman and chief execu- 
tive officer of lnterNorth. and 
Kenneth L Lay. chairman and 


Dollar Surges 
On GNP Outlook 

Compiled by Our Staff From Dispatches 

NEW YORK — Optimistic 
predictions about the U.S. eco- 
nomic outlook pushed the dol- 
lar sharply higher in thin trad- 
ing Thursday. 

Currency* dealers said the 
dollar's surge was prompted by 
Federal Reserve Chairman Paul 
A. Volcker's comment Wednes- 
day that the U.S. gross national 
product could rise by at least 3 
percent this year. Salomon 
Brothers's respected chief econ- 
omist, Henry Kaufman, also 
predicted that the U.S. econo- 
my would grow between 3 per- 
cent and 3.75 percent in 1985. 

Dealers said the dollar re- 
mained strong all day. The cur- 
rency briefly went ’over 3.18 
Deutsche marks, up 5 pfen- 
nings from Wednesday's 
3.1330. bur retreated by the 
close io 3.1780. The British 
pound, after closing at 51.2220 
in London, slipped further in 
New York, to 51.2165. com- 
pared with S 1.2295 on Wednes- 
day. And in other New York 
trading, the dollar was at 9.69 
French francs, up from 9i4 
Wednesday. (AP. Reuters/. 


chief executive officer of Houston 
Natural Gas. 

InterNonh will operate under 
the name HNG InterNonh upon 
completion of the merger. Mr. Seg- 
nar is to be chairman and chief 
executive officer of the combined 
company, and Mr. Lay will be pres- 
ident and chief operating officer. 

The merged company would 
rank second in size only io Hous- 
ton-based Tenneco Inc. 

In consolidated New York Stock 
Exchange trading Thursday. Hous- 
ton Natural Gas dosed at $67.25 a 
share, up S8.625. It closed up 
$11.75 Wednesday at S58.625 

InterNonh announced earlier 
that it had arranged a $2.5-billion 
Line of credit with a group of banks 
led by Citibank of New York, In- 
lerNonh shares closed down S3.50 
Thursday at S48 on the NYSE. 

Jay Olson, an analyst with 
Drexel Burnham Lambert in Hous- 
ton. said that IntcrNorth’s primary 
motive in acquiring Houston Natu- 
ral Gas was a defensive move to 
prevent a hostile takeover attempL 
He said that the Houston compa- 
ny's stock was worth no more than 
560 a share. 

Cun Laucer of L.F. Rothschild. 
Uuterberg. Towbin in New York 
agreed that the 560 price was a 
likely figure. 

"1 don't see see how lnterNorth 
could justify an offer of more than 
S60 a share, considering the size of 
HNG's debt." he said. 

Houston Natural Gas has bad its 
headquarters in Houston since the 
company was founded almost 60 
years ago. At the end of 1984. ihe 
company employed 3.100. Its pipe- 
line system runs from Florida to 
California. 

lnterNorth has 11.000 employ- 
ees. with 3.100 in Texas. The com- 
pany has a pipeline system extend- 
ing from the Texas Panhandle to 
the Canadian border. 

The two companies have few du- 
plicating facilities, but there are 
overlapping facilities in Texas. ln« 
lerNorth acquired an interest in 
Valero Energy Corp. of San Anto- 
nio and the two companies formed 
a natural gas marketing company 
that competes directly with Hous- 
ton Natural Gas's Texas intrastate 
subsidiary. Houston Pipe Line Co. 

First-quarter earnings for 1985 
reported by Houston Natural Gas 
showed the company had net in- 
come of S39.4 million and total 
revenue of 5938.7 million. During 
the first quarter of 1984. the com- 
pany earned S579.3 million and 
had net income of S29.6 million. 

lnterNorth reported Thursday 
that the company earned Si 13.8 
million and had operating revenue 
of S2 . 9 billion in the first quarter. 
In ihe same period a year ago. the 
company tad a net income of 
5133.5 million and S1.6 billion in 


Deposits: $498,000,000 



amts Bank 
carp, of Basel 


unfan Bank or 
Surttaertand 








H fet wadonat 
Bank of Boston 


Withdrawals: $730,800,000 



Bank of Boston 


Bank of Boston 




I Carp, of Basel 



union Banc of 


Oifltt Hoot Bodmg tuboomrdtm on fhanoef imtorim 

The chart shows the flow of money between First Nation- 
al Bank of Boston and the Big Three Swiss banks. Hie 
Swiss banks collect U.S. currency from tourists and other 
h anks abroad and ship it by air for deposit to their 
accounts in Boston. They withdraw Mis to meet their arm 
needs and those of their customers from the same ac- 
counts, and receive the new currency via air shipment 


surrendered records of Mr. 
Rich's Swiss-based companies to 
U.S. investigators. Normally, the 
records would have been protect- 
ed by the country’s confidential- 
ity codes. 

Although the companies in- 
volved subsequently reached a 
settlement with U.S. authorities, 
Mr. Rich still faces criminal 
prosecution for tax evasion if the 
United States can persuade the 
Swiss to hand him over. Under 


Swiss law. however, income-tax 
evasion is not a criminal offense. 

The latest pressure on the 
Swiss arises from a congressional 
investigation into the dealings of 
Bank of Boston Corp., bolding 
company for New England's 
largest bank. In February, Bank 
of Boston was fined $500,000 for 
failing to report to the Internal 
Revenue Service more than SU 
billion in currency dealings with 
(Goatinoed os Page 15, CoL 1) 





Sales Boost VW 
To Profitability 
During 1984 


By Warren Geder 

luemarioaat Herald Tribune 

WOLFSBURG, West Germany 
— Yolkswagenwerk AG said 
Thursday that brisk sales in the 
United States boosted its consoli- 
dated net profit in 1984 to 228 
milli on Deutsche marks (573.78 
mOtion), its first profit in two years. 

But Carl H. Hahn, management 
board chairman of West Germa- 
ny's largest automaker, cannoned 
that the size of the profit “dearly 
does not stand in good proportion 
to the group’s 19&4 sales of more 
than 45 bUhan DM. 

In the fast quarter of 1985, VW 
said, worldwide net rase 1745 per- 
cent to 140 million DM from 51 
million DM a year eadicr-Saks in 
the first three months jumped 14.5 
percent to 13.4 billion DM. 

Mr. Hahn said the first-quarter 
surges could not be viewed as indi- 
ces for the fuO year. “Wecan hard- 
ly reckon on double-dizit sales 
growth,” he said, adding that much 
depended on the future exchange 
rate of the U.S. dollar. 

VW stock closed Thursday un- 
changed at 20630 DM on the 
Frankfurt Stock Exchange. 

The company reported earlier 
this year that woddwide revenue 
surged 14 percent in 1984 to a re- 
cord 45.7 bQlioa DM. It also said 
that it was restoring a 5-DM divi- 
dend on its 1984 results, tost paid 
for 1981. 

VW reported losses in 1984 of 
215 million DM and in 1983 of 300 
million DM. 

VW had reported a groin? loss of 
47 millio n DM f or the first nine 
months of 1984. But stepped-up 
efforts to rebuild production lost 
during a two-month metalworkers’ 
strike and a sharp depredation of 
the Deutsche mark agamst the dol- 
lar helped generate a 139-percent 
surge in group net profit to 275 
million DM in the fourth quarter. 

A major profit burden unrelated 
to car production tost year was a 
348- million DM loss at VWs trou- 
bled West German office-equip- 
ment subsidiary. Triumph- Adler 
AG. The loss chiefly was the result 
of major write-offs at Triumph- Ad- 
ler’s U.S. office-computer subsid- 
iary, Pertec. 


Mr. Hahn said VWs return to 
{oxifit could be traced to the success 
of hs new Golf II and Jetta models 
in both the European and North 
American markets, to strong UB. 
demand for upper-market models 
of its Audi subsidiary and. to nar- 
rowing of losses at its Latin and 
South American operations. It also 
improved through cosl-cutiina 
measures at home a nd through 
large-scale automation of produc- 
tion lines, he said. 

An analyst at Westdeutsche 
Landesbank Girozentrale is £>0es- 
sddorf said that VWs retur n to 
profitability was based largely on 
un p ro v ed performance overseas, 
particularly in the United States 
and Latin America. But in 19S5,he 
said, VW must o vercom e consider- 
(CoBfinued on Page 17, CoL 1) 


UJL Sets Sale 
OfBritoilStake 

. Imertumomd Herald Tritvne 

LONDON — The govern- 
ment announced Thursday ; 

(holding in BritolTpLC later 
this year. 

Based cm Thursday’s closing 
price of 218. prime a share, /the 
government stake is valued at 
about £532 rniQkm ($649 mil- 
lion). In November 1982,-. the 
government sold 51 percent of 
BritosTs shoes tor 215 pence 
each. Before that, the company 
was the exploration and pro- 
duction arm . of state-owned 
British National Ofl Corp. 
j. The share price plunged after 
due 1982 offering, parti)' reflect- 
ing fears of an oil-price cot- 
lapse. Since then, the price has 
remained relatively weak as in- 
vestors awaited a new sale of 
shares from the government 
The Edinburgh, stockbrokerage 
of Wood, Mackenzie & Co. re- 
cently described Britoil shares 
as “cheap" on a long-term view 
and valued the company's as- 
sets at 412 to 450 pence a share. , 




wn 

i/ssiu 



f-.ii i? 

fell 


f' ■ \^^A<asl 



For the man with exceptional goals, 
a new dimension in banking services. 


W ’hat makes Trade Develop- 
ment Bank exceptional? 
To start with, there is our 
policy of concentrating on 
things we do unusually well. 
For example, trade ana export 
financing, foreign exchange 
and banknotes, money market 
transactions and precious 
metals. 

Equally important, we are 
now even better placed to 
serve your needs, wherever 
you do business. Reason: 

We have recently joined 
American Express International 


Banking Corporation, with its 
89 offices in 39 countries, to 
bring you a whole new dimen- 
sion in banking services. 

While we move fast in 
serving our clients, we’re dis- 
tinctly traditionalist in our 
basic policies. At the heart of 
our business is the maintenance 
of a strong and diversified 
deposit base. Our portfolio of 
assets is also well-diversified, 
and it is a point of principle 
with us to Keep a conservative 
ratio of capital to deposits and 
a high degree of liquidity- 


sensible strategies in these un- : 
certain times. " 

: If TDB sounds like the 
sort of bank you- would ./ 
entrust with your business, 
get in touch with us. 

TDB banks in Geneva, . London, 1 \ ; . 
Paris, Luxembourg Ghtasso, Monte: 
Carlo, Nassau, Zurich. 

TDB is a member of. American . 
Express Company , which has 
assets of U5$ 62 J8 billion and - 
shareholders' equity of 
US$ 44 billion. ' 



Shm\ n ac left, the head 'olltcu 

ut' Trade Development Bonk. Geneva.'.' 


An American Express Company 


|cW\L>oX 





afcV---- '* y.' v 


w 


Thursdays 

A\1EX 

Qosir^r 


Tobies include the nationwide prices 
up to the dosing on Wall Street 
and do not reflect late trades elsewhere. 

Via The Associated Press 


7to 
IM 
O* 
S3 h 
79% 


18to 

8% 

2VB 


.14 


m aoid 
■ to al Lab 
13 AMCn 
2 % am inn 
58 ATT FP 5LQ5e A J 
2% AanePr 
9* Action 
3., ACftHl 
ft Adnwl 
. . 1% AdtnRl 

30to 17* AdRusJ 
24to is Adobe 
•ft 4VJ Aeranc 
45% 27% AflIPbS 
9% 5* Air Exo 

5% AlrCal 
9% ArCaipf 
1% Atamco 
*W1 Alrrrllo n 
MS AJbaW 
5% AMs 
9% Alphaln 
VS AH ax 

a®% A Icon of 3J5 n J 


21 

1 4 13 
A IS 


32 


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14* UVS 14% 
m 1 ** sow aw. 

4 3% 4 

77* 77V, 77*— W 

3 3 3 — W 

11 10W IMS— % 


60 


100 
A 
3SA 
47 
15 

3 X * Tt 

s in. i% i% + w 

55 30 28to 28% — % 

371 IS 17* 170, 

14 n. » ss 

15 43* 42% 4JV, 

I M « M 

33 m IS « 

70 10% 10% 10% + % 
147 1% 1W l% — % 

89 99 77V, 97% — 1% 

56 7 7 7 

150 7W 6% MS — W 

759 11VS 10% 11W + % 

85 1% US 1W— M 

. 40Qz 33 32% 32VS— 1 

2SW 11 Abac* 42 143 34 23* 23V. — % 

I8VS OVA, Amdeeil JO 16 14 3857 12% 13% 12% 

15% 6% Amedeo 88 1.1 32 7% TVS 7V.— W 

0% 47k AmDIR .15 £0 4 4 7H 7S 7% — W 

7% 4 Am Coo 22 20 7 7 7 — W 

4«s 31% ACenfrl 1X0 13 13 13 43% 43W 43W 


11% 

10 % 

4% 

101 

IMS 

9 

'ilk 

36 


3 

J 20 
16 12 
14 
14 19 
24 
11 


JIS A 15 


34% 12% AEx* wt 
9 5% A F rue A 

9 5% AFrucB 

12% 7% AHIttlM 

S 4 A Israel 
19* 12% AMzeA 
18% 12% AMaB 
2% % AMBId 

10 3 AnsOII 

64% 53 VS APetf 
3 % % AmPIn v 

ink 121b APracs 
BY, 6% AmRtty 
16% 11% ARoyln 
4* 3 AScJE 

IS Arnpal 
3% Andol 
2 % AndJcb 
9 Andrea 
5% AnolM 
% Angefwt 
% viAnol v 
3Vs ArvoPt 
5% Arleyn 
6Yl Armtm 
7% Armais 
8 ArrawA 
10% Arundi 
6% Asmr a 
BVS Astra* 

1 AotfDlC 
7% Aatnitpt 
% AttsCM 
2to Atlas wf 
49% 32% Auto5w 1330a 03 17 
20% 13% Avontfl JH> 5.1 13 


3% 

6 

10% 

15% 

14% 

3% 

2% 

9% 

7% 

11 % 

11% 

12 % 

24 

11 % 

11 % 

3% 

17% 

2% 

5% 


292 31% 30% 3BUl— 1 

13 lOOOB 6% 6% 6% 

12 25D0Z 6 6 6 

II T74 10% ID* 10% 

2 II 6% 6% 6% 

32 £6 31 7 14% 14% 14% + % 

52 19 B 37 13% 13% 13% + % 

104 1% 1% 1% 

15 4 IK III M 

130 U II 3 58% 50% 58% 

10 % % % 

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8 111 
•m 30% 29% 30 — % 
29 25% 35% 3S% — % 
17 29% 28% 28% —1% 
37 20% 20% 20% 

88 7% 7% 7% — '6 

180 ID 8% 10 + % 



Open High 


Close 


Grains 


WHEAT (CBTJ 

smobu minimum* dolkn per buatwi 
4JB 132% May 344 348 340% 342% — JQ% 

350 3J4U Jut 324% 325(6 3.18% 330% -^04% 

376% SJTtt Sap 32414 325% 1196 321 — JM(6 

343% 333% Dec 334% 3J6 130% 331(6 —54(4 

354% 3J8% Mar 3J9% 341 336 336 —JSCV. 

4JQ 335 MOV 335 335 334 334 —.03% 

EO. Salas Prev.SatBS 6JS4 

Prav. Dav open inL 37522 off 400 


Season Season 
High low 


Open High Lew Oasa Cha. 


2130 1960 May 

2110 I960 Jut 

Est. Sales Prev. Soles 5575 

Prev. Day Open Ini. 23502 off 16 
ORANGE JUICE (KYCE1 
1 5500 Ibsr cents par lb. 


2033 

2033 


CORN (CBT) 

5500 bu minimum- del lor* Par bushel 

330 249% May 2J7U. 383% 252% 252 % 

331 273 Jul 278(6 278% 277% 277% —51 

331% 266% Sap 248% 249 247 247% —51% 

Z9S 240% Dec 243% 243% 241% 262 

110 249% Mar 271% 271% 249% 270(6 


38 


331% 274% May 276% 276% 274% 175. —52% 


286 277% Jul 278% 278% 276% 276% 

Est. Soles Prev. Soles 2650 

Prev. Oav Owm I ntl 14323 off 1294 
SOYBEANS (CBTJ 
MOO bu minimum* dal tars per burial 
777 570% May 577% £90 MOV, 541% —58 

779 £80% Jul 573 £93% US 556% -J» 

756 £52 Aua £96 £96 £56% 557% —JiVM 

671 551 Sep £97 577 557% 559% —59 

648 £83% Nov 655 655 575 57786—58% 

679 £94% Jan £14% £15% 656% £08% -vOOIm 

743 £06% Mar £25 6J5% £17 £19 —58 

779 £15 May £33 £26 £27 —37% 

658 £38 Jul 6JB £38 632% 632% —57% 

Elf. Sales Prev. Sol™ 24756 

Prev. Day Open InL 60710 off 1479 
SOYBEAN MEAL (CBT] 

100 tans- dollars oar tan 

20550 11930 May 12350 12340 12078 12140 -250 

Jul 12840 12930 13630 127.10 —270 

Aim 13150 13220 12950 13050 —230 

SOP 13450 135.10 13250 13270 —2 30 

OCt 13850 13850 12350 1XL50 —250 

Dec 14250 14330 14030 14070 —240 

Jan 14400 14550 14250 14250 —230 

Mar 15050 15040 14758 14730 —250 

MOV lST-sSS —1.90 

Jul 15630 15640 15550 15540 —170 

Prev. Sales 2240B 


19640 12540 

18050 12BA0 

17930 13130 

18040 13450 

18450 13950 

16350 14220 

28630 14740 

16250 15450 

16750 16250 

Est. Sal 


Prev. Dav Open Inf. 48472 off HT7 
SOYBEAN OIL (CBTJ 
61)500 B»- dollars per 100 Ra. 


34X0 

22X0 

May 

31.95 

32.10 

Jl JH 

31.13 

3272 

2270 

Jul 

30X0 

3075 

29X0 

30X1 

31.95 

2230 


39 JO 




31.10 

2230 

Sop 

29.10 

29.20 

2LA0 

2872 

30J7 

32.90 

Ocf 





29 JS 

22.90 

Dec 

27X9 




29X7 

23X0 

Jan 

27.40 

27X5 

2+95 


2860 

2+40 

Mar 

27X0 

27X0 



27X5 2+40 

EsL Sates 

Mov 26X0 26X0 
Prav. Sates 2SJ01 

2+80 

26X0 

Prey. Dav Open int. 60717 





OATS (CBT) 

MOD bu minimum- dal tort per buehel 

ML «« , ** Wi l-tt (48% 140% +50V6 

178% 157% Jul t37% 179% 137% 137% — 58% 

w ]46% Sop 147 158% 146% 146% —50% 

1*5J 1-fgW Dec 141% 142 141% 141 —50% 

147% 141% Mar 143% —50(6 

Est. Sales Prev. Sates 521 

Prev. Day Open Inf. 1206 off 40 


Livestock 


6230 

6370 

6250 

64.10 


6247 


CATTLE (CME) 

40500 Me.- cants per lb. 

6940 61.92 Jun 

6747 62.15 Aua 

65.90 61-60 Oa 

6755 6340 Dec 

6745 64.00 Fab 

6747 6125 Apr 65JD 65.70 

Elf. Sales 15518 Prev. Sale* 15402 
Prev. Dav Open inf. 57,119 off 205 


6255 

64.10 


6145 

6277 

«XIK 

6345 

64.10 

6550 


6172 —73 

6252 —1.13 


6110 

6347 


6470 
67.17 
67 JO 
47.10 


FEEDER CATTLE (CME) 

44500 Ebi,- cents per lb. 

7176 64.10 MOV 6435 

7170 6M0 Aug 67.15 

7350 6670 Sen 67.15 

7232 6640 OC1 67.10 

220 6753 N*rv 6777 

_ 7940 69 J» Jo*! 

EH. Sales 1.749 Pnv. Sales 1461 
Prev. Dav Open Inf. 7,980 up 25 
HOGS (CME) 

30500 Ibl- cents Per lb. 

££40 4£77 Jun 46J0 4637 

S£77 <3.55 Jul 4950 4922 

IM 2-S S* 10 nj7 £850 

SITS 4550 OCI 4750 47 JO 

5055 4630 Dec 4840 4850 

»50 4625 Feb 4950 49JS 

4735 4550 Apr 4625 4625 

4JM 47.00 Jun 

<820 47. JS Jul 

EH. Sates 4474 Prev. Sales 6410 
Prev. Dav Open inf. 2191, up 238 
PORK BELLIES (CME] 

38500 lbs.- cents par lb. 

KL00 *1.15 May 6S5Q 6540 

8147 6115 Jul 6640 6650 

BO 45 6020 Aug 6570 6620 

7620 61 IS Feb 7250 7350 

7540 64JJ0 Mor 7120 7120 

7540 7040 May 

7 £00 70.90 Jul 

EsI. Sales 6312 Prev. Sates BJ69 
Prev. Day Open Inl. 12769 uolB9 


6185 

6622 

663S 


6157 

6623 

6645 


6725 6735 — JO 


49 JS 
4£70 
4852 


4577 

4845 

4920 

4677 


4845 

4615 


—50 
—.10 
— .17 
— .10 


6325 

6437 

6170 

7125 

njo 


6337 —130 
6437 —250 
6350 —152 
7147 —133 
7145 —1.15 
72JS —1.15 
7145 —145 


Pood 


epWFEH c (NYCSCE) 

37300 lbs, cents per lb. 

J5* J2251 May 14649 14669 145.95 14645 

3 <970 12150 Jul 14649 14690 14538 14617 

14730 12700 Sap 14670 14670 14540 14450 

J29.2S Dec 14550 14550 14450 I412S 
14530 12830 Mar 1447S 14455 14430 14443 

14425 
14335 


14550 13150 MOV 

14030 11530 Jul 

I42JX) 132.73 Sep 

Est. Sales 1475 Prev. sales 1,776 
Prev. Dav Open Inf. 11242 uo 12 
SUGAR WORLD II (NYCSCE) 

112500 lbs.- cents per lb. 

9.95 342 Jut 132 335 

975 339 Sea 172 373 

9« 373 Oct 354 356 

77S 4.10 Jan 4.19 £19 

£M Mar 44* 447 

7.15 450 May 457 488 

649 550 Jul £09 £09 

620 £22 Sea 

EM. Sales 8.969 Prev. Sales £178 
Prev Day Open Int. 79457 uc 721 

COCOA (NYCSCE) 

10 metric fans- J per ton 
2570 1990 MOV 

7400 1998 Jut 

7415 ,907 Sep 

2337 1941 Dec 

2190 itts Mar 


14230 


185X0 

151X0 

Mov 

15760 158X5 157J0 158J0 

— 1« 

18+85 

15+60 

Jul 

156X0 157 JO 156X0 15660 

-JS 

182X0 

15+00 

Sep 

15+50 15+50 15+50 15+50 

— 7t 

181X0 

151 JO 

Nov 

152X0 153X0 152X0 152X5 

+ 1C 

180X0 
177 JO 

151.90 

152X0 

Jan 

Mar 

152X0 152X0 152X0 151X5 
151.95 

—JO 

=■3 

,6250 

160X0 

May 

151X5 

157 JO 

157 JO 

Jul 

151X5 

—St 

10050 17975 Sop 151X5 

EsL Sales 350 Prev.Sales 281 

—JO 


Prev. Dav Oner Hit. £394 up 21 


Metals 


COPPER (COM EX) 


25X00 Bn 
9X50 

- rents p< 
56X0 

BT lb. 
May 

6160 

61.90 

6160 

61X0 

+60 

6+75 

61X5 

Jun 

6220 

6220 

62.15 

6275 

+J0 

88X5 

57X0 

Jut 

6260 

62X5 

62J0 

6275 

+J0 

82.10 

57 JO 

Sop 

63X0 

6365 

63.15 

63X0 

3fl 

8+25 

5+50 

Dec 

6370 

63X5 

6360 

6365 

B4LB 

mm 

32 

Jan 

Mar 

6+10 

6+10 

6+10 

63X0 

6+05 

+X4 

+X5 

74X0 

11.10 

Mav 

6+30 

64X0 

6+30 

64X0 

+XU 


61X0 

Jul 

6+70 

6+70 

6+50 

6+55 

+.15 

70-90 

62X0 

Sep 

65X8 

65X0 


6+80 

+.10 

7TU0 6+00 Dec 

7020 0530 Jan 

Mar 

Esf. Sales 7X00 Prev.satae 9703 


65X5 

65X0 

6570 

as 

+.10 


Prev. Day Open Int 83571 off 2585 


ALUMINUM (COMEX) 
40500 lbs, cents per lb. 


8250 

4943 

5940 

7430 

7040 

7630 

7160 

6675 

6345 

SZ10 


Msv 4820 4868 4820 


Jun 

Jul 

Sep 

Dec 

Jan 


4740 
49.10 

4930 

4925 
5845 
51.75 
5166 
5195 
5555 
5150 

Dec 
Joe 
Mar 

Est. Solas 300 Prev. Sales 298 

Prav. Dav Open Int. 2379 off 11 
SILVER (COMEX) 

£008 truv at- cents pe r tray at. 


Jul 


4840 

4875 

49.10 
4930 

51.10 
5130 
5320 

53.10 
5190 
5670 
5S90 


57.10 


+40 

+25 

+J0 

+20 

+28 

+20 

+20 

+20 

+20 

+20 

+20 

+20 

+20 


15135 

14615 

11835 

12305 

12155 

11935 


Jul 

5fP 

Dec 

Jan 

Mar 


6143 

6305 

6305 


6365 

6355 

6425 

6560 


6125 

6195 

6285 

6415 


6595 6705 6595 


9455 

9405 

7995 

7095 


6855 6855 6845 


7415 


6243 

Assn 

6415 

6553 

6609 

6705 

6817 

6932 

7309 

7433 


^10 
5625 
5735 
5905 
5935 
6075 
6015 

6355 Jul 
6415 Sen 
6675 Dec 
7610 Jon 

„ Mar 7415 7415 

EM. Salas 17500 Prev. Soles 17530 
Prav. Dav Ooen InL 70061 off 469 
PLATINUM (NYMe) 

50 troy a*.- dollars per fray a. 

28750 25150 Jun 27250 

44930 24150 Jul 27150 27430 26930 27450 

39350 25050 Ocf 27330 Z7R50 27430 27SJ0 

37330 26000 Jan 28250 28450 28030 28490 

EM. Sales 1549 Prev. Sales 2201 
Prav. Dav Open Int 11723 off 373 
PALLADIUM (NYME) 

100 tray ac* dollars per as 

r * m 11050 

HS-3 !9fS J"" 11,JS 10930 11150 

IS-5 If* ,t "- 75 110Ja W*75 

IJi-S IH-5 ,D8JS im “ 10173 mj5 

12730 I0£5D Mar 11050 11050 11050 10875 

Est .Soles 509 Prav. Sales 137 

Prev. Day Open Inf. £996 off 21 
GOLD (COMEX) 

100 troyaz.- dollars portrayal. 

J7LIM W250 May 31+10 31A10 31A1D 31440 

51950 28750 Jun 31450 31450 31320 31620 

Jul 31820 

«S50 29150 Aug 11840 32030 31720 32020 

49350 297.00 Oc, 322.70 32430 mxi 32440 

48930 30130 Dec 32750 32930 32750 32920 

3?^SS f* 3WJ0 33430 33320 rnS 

49650 31470 Apr 339JS0 

43£70 3 20 50 Jun HUH 34530 34S30 34U0 

S-S 35050 3S050 34950 25150 

29£7P 33540 Oc, 3S650 S450 35640 356JD 

39350 34250 Dec 36220 36220 36220 363.10 

EstSalra 24500 Prav. Sates 36243 
Prav. Day Open lnt.130,193 up 1.144 


+77 

+73 

+75 

+73 

+73 

+75 

+75 

+75 

+75 

+75 

+75 

+75 


+150 

+150 

+150 

+190 


+ 1.10 

+150 

+150 

+90 

+90 

+90 

+90 

+70 

+70 

+70 

+40 

+40 


Financial 


9254 

9154 

91.14 

9076 

9044 


93.13 
9140 

91.14 
9077 
90l44 


9254 

9151 

91.11 

9076 

9044 


US T. BILLS (IMM) 

ST million* pts of 1 00 pet. 

9225 87.14 Jun 

9177 8694 Sep 

91-32 85.77 Dec 

9093 0640 Mar 

9044 8751 Jun 

<036 HUM Sea 

2E! S3 SE WJ9 W5B 

if TA TREASUBY ICBTJ 
5100500 prtn- Pts £ 3Bids of 100 pet 
5M-, Zft. Ju" 81-7 81-17 

*1-13 7S-1J Sap 80-10 BO-17 

80*22 W-13 Dec 79-15 79-32 

SSjL MOT 78*23 78*30 

_ 79-26 74-30 Jun 

Esf.Salei Pnev. Sales 12.150 

Prev. Day Open int. 43453 off 1447 


92.11 
9138 

91.12 
9075 
9045 
90.18 
8994 
8973 


+4M 

+52 

+52 

+52 

+52 

■KOI 

+51 

+51 


81-5 

■54 

79-13 

78-21 


11-16 

80-17 

79-21 

78-29 

784 


US TREASURY BONDS (CBT) 


57-20 

Jun 

71-3 

71-16 





70 





Dec 

6M 





Mar 

40-9 





Jun 

67-18 

67-30 




Sep 

67 

67-9 



56-27 

Mar 

66-13 

66-23 

66-10 


63-12 

Jun 

65-12 

65-24 



62-34 

-One 

65 

65-11 

65 

65-11 

65 


472 

495 


341 

338 

171 

£07 

456 

479 

£97 

£25 




2355 

2075 

2040 

2010 

2820 


2391 

2115 

2070 

2040 

2020 


2355 

nm 

2040 

2010 

2015 


2391 

2113 

2065 

2035 

2033 


+18 

+18 


77.15 
76-3 
76-5 
72-30 
70-16 
TOG 
69-26 
69-12 

69- 2 
68-26 
ABA 

Est. Sales . 

Prev. Dav Open Int222290 up 2222 
GNMA (CBT) 

, '9^9“ or,,, L? Tia '32ndaof 100 net 

70- 10 57-T7 Jun 6*29 70-6 

69-19 59-13 Sep 69-11 69-15 

68-18 994 Dec 

68-1 58-20 MOT 

47-28 58-25 Jun 

47-7 65 Smi 

EH. Sales Prav. Sales 115 

Prev. Day open Int 4jm 


+10 

+10 

+10 

+10 

+10 

+10 

+10 

+10 

+10 

+10 

+10 


704 

69-15 

48-27 


9125 

9084 

9026 


CERT. DEPOSIT (IMM) 

SI million- pts of too pet 
9145 8520 Jun < LSD 

<128 B50D Sen <076 

9036 KJ4 Dec 9023 

W-18 8686 Mar 

8942 84.43 Jun 

■950 (786 Sep 

88.99 8824 Dec 

Est. Sal** Prev. Sates 310 

Prev. Day Open int. £729 off a 


9145 

9076 

9023 


+81 


9154 
<082 
9027 
■982 

0945 —JT\ 
BJ.13 -21 
8885 —81 


Season 

High 


Season 

Low 


Open Hhlfi Law Close Chg. 


EURODOLLARS (IMM) 
SI mill loiFPts of 100 pet. 


91X1 

8269 

Jun 

V1.I4 

91.17 

PI J77 

91.16 

-XI 

9072 

B4J3 

Sea 

90X9 

90X3 

9032 

«0X1 

— 01 

90X0 

8+80 

Dec 

89X6 

09X8 

■978 

89X6 

—XI 

■979 

8+10 

Mar 

89X2 

89X3 

89X9 

89X2 

-XI 

09X4 

8673 

Jun 

89X7 

89X7 

89X2 

89X5 

—XI 

£2 

8864 

87X0 

Sea 

8872 

*872 

■868 

8873 

—XI 

87X8 

8764 

Dec 

Mar 

8860 

8860 

8860 

88X5 

8+19 

—XI 

-XI 


EM. Sales Prev.Sales 37,124 

Prav. DOV Open lnt.109552 off 494 


BRITISH POUND (IMM) 

Sper pound- 1 point equals *02001 
12350 18235 Jun 12050 12170 12015 12115 

14450 18200 Sep 1.1940 12065 1.1925 12015 

12800 18200 Dec 1.1B70 12010 1.1B70 1.1965 

12800 18680 Altar 1.1945 

12250 Liras Jun 1.1935 

EM. Bales 12299 Prev.Sales 11515 
Prev. Day Opan Int. 32210 up 734 


—110 

-110 

-110 

-110 

—110 


M 


9% 

2% 

10% 

5% 

15% 

17% 

3% 


72* 82 


12 


.16 


■3 

15 30 


251 25 
70c 


20a 12 


7273 

7251 

7235 


72JW 

7232 

7225 


7360 

7234 

7217 

7305 

719S 


.10305 

.10280 

.10255 


CANADIAN DOLLAR (IMM) 

J per dir- 1 pokif equals S08001 
7835 7054 Jun 7367 

.7535 7825 5fP 7251 

JSfel 7006 Dec 7225 

7504 4981 Mar 

7350 7070 Jun 

Est. Sales 1433 Prev.Sales 1850 
Prev. Day Ooen int 10758 UP2S5 
FRENCH FRANC UMM) 

Sper franc-1 point eguals 3080001 
.11020 89410 Jun 

.10940 89600 Sea 

.10440 89670 Dec 

Est. Sales Prev.Sales 
Prav. Day Open int. 14V4 
GERMAN MARK (IMM) 

Spot rnork- 1 point eauabSOiOOOl 
2733 2905 Jun 2164 2T77 

2545 TWO Sen 2186 2199 

2610 2971 Dec 300 2230 

2415 2040 Mar 

EM. Sales 26*651 Pr*y. Safes 24255 
Prav. DavOPan Int 47,147 off ITT 
JAPANE5E YEN (IMM) 

Sper yen- 1 poin t equate SOJMOQl 
004450 803826 Jim 803964 803970 8BI957 JKH64 
004150 803870 Sep 8B398S 8039VS 801982 8839» 
004350 803905 Dec 804027 804027 804027 80401 V 
004160 804090 Mar 8040a9 

EM. Sales £366 Prav. Sales £649 
Prav. Dav Open Int. 18260 UP 467 
SWISS FRANC UMM) 

S per franc- 1 point equals 508001 
-4900 2<3V Jun 2782 2795 2762 2765 

-4030 2480 Sep 2015 2827 2795 2797 

+360 2531 Dec 2865 285® 2838 2837 

*4000 2330 Mar 2925 2925 2925 2890 

EM. Sales 23-565 Prav. Sales 17224 
Prav. Dav Open Int. 36231 off 813 


— J7 


—145 

—145 

—145 


2154 

2176 


2157 

2180 

2210 

2347 


=3 

—50 


—TO 
— Ml 

=33 


industrials 


LUMBER (CME) 
I30800bd.ff.-Sperl800bd.lt. 
22S80 121.10 

23020 129 JO 

19720 13520 

1BA10 13780 

18780 14+60 

19S80 13080 

17380 15380 


EM. Sates 1490 Prav. Soles 3221 
Pf*v. Day Open Int £654 off 309 


May 138.10 13820 13720 13820 —20 

JLH 14320 14+50 14280 14270 — t.IO 

Sep 14720 14870 14680 14720 —.10 

Nov 14880 15080 148.10 14820 —20 

Jan- 15620 15420 12420 12480 —12* 

Mar 16180 16180 16180 16080 +180 

Mov 14+50 16+50 16480 16480 


COTTON XNYCE) ■ 
50800 Hol- cents per lb. 


79X0 

6126 


68X5 

68X0 

<7X0 

<7X5 

—XU 

79X5 

63X5 

Jul 

6565 

65X3 

6+85 

6+97 

— J2 

77 JO 

6+40 

Oct 

6+72 

64X0 

64X5 

6+X5 

— X5 

7100 

6+50 

Dec 

6+94 

6494 

6+22 

6+33 

— X9 

7675 

65X5 

Mar 

66X1 

66X1 

6575 

6520 

—A7 

70X0 

66X1 

May 

6+55 

6+55 

66X0 

6582 

—XI 

70X5 6+50 Ju, £+2) 66X5 

*5^0 65JM Oct 

Est. Sales £000 Prav. Sates 1JU7 

6+20 

6+17 

6+95 

—1X3 

—25 


Prev. Day Open Int. 13806 off 295 
HEATING OIL (NYME) 

42800 oat* cents ner aai 


78X0 

030 


71X0 

7tX5 

71X5 

71 J9 

75X0 

65X5 

Jul 

70X0 

70X5 

69 JS 

70.18 

7550 



7870 

71X5 

70X5 

7079 

7+45 

70X5 

scp 

7175 

72X0 

7+90 

7174 

77.10 

72X0 

Oct 

72J0 

7£50 

7130 

72X0 

74X5 

78X5 

71X0 

72X0 

Nov 

MC 

7375 

7375 

7375 

73JB 

7+50 


7+70 

Jan 

Fee 

Mar 

Apr 

7+50 

75X0 

74X0 

7+30 

73X0 

7+00 

73X0 

7+00 

7+00 

73X0 

74X0 


EM. Sales Prev.Sales 51869 

Prev. Day Ooen int. 15816 up 20 
CRUDE OIL (NYME) 

18W bbi^ dollars per bbL 
2»J5 
2924 
2927 
2920 
2920 
2920 
2920 
2920 
29*46 
29-45 
29*43 
27.96 
9U8 
2780 

EM. Sales Prav. Sales 15836 

Prav.Dcv Open Inf. 4BA47 up 2774 


2+20 

Jun 

27X8 

2770 

27X9 

27X6 

2+10 

Jul 

2+63 

2+85 

2+50 

2672 

2+25 

Aua 

2+47 

2+66 

26X0 

2+56 

24X8 

Sep 

2+32 

2+57 

26X8 


2+65 

Ocf 

2+30 

7+52 

2+28 


24X0 

Nov 

2+28 

2+52 

MW 


ZL90 

Dee 

24X5 

2+55 

2+40 


24X5 

2+50 

2+92 

2+92 

2+92 

2+70 

2573 

Jan 

Feb 

Mar 

Apr 

May 

Jun 

Sep 

2+48 

26X0 

2+40 

Lil 


+83 
+82 
—83 
—83 
— Jl 
— 81 
—81 
—*01 
— Jl 


—81 
— Jl 
— Jl 
—81 


Stock Indexes 


SP COMP. INDEX (CME) 
points raw cents 

TB9.10 15+10 Jun 179.25 179 JO 179.10 179-40 

<270 16080 Sen 18250 183.15 18270 18275 

19+40 17570 Dec 18520 18670 18520 USAS 

19575 190.10 Mar 189.15 

Est. Bolen 5+6*5 Prev.Sales 58783 
Prev. Day Open inf. 60842 upi.9U 
VALUE LINEIKCBT) 

MJlnl6 and cents 

21920 17380 Jun 19120 19280 19180 19125 

21270 185-73 Sep 19520 19£9D 19575 19580 

21080 20080 Dec 200J0 

EsL Sales Prav. Sates £923 

Prev. Day Open Int. 6*404 up 207 

NYSE COMP. INDEX (NYPE) 

pa Wits and cents 

11080 9080 Jun 10180 10+70 18379 10+85 

111.90 <175 Sep I DBAS 10+10 I05*6S M£9S 

11375 10170 Dec 10720 10775 10720 10785 

113-45 10925 Me 109-50 109 JO M920 10975 

EaL Sales 12732 Prav. Sc lee 10877 
Prev. Day Open Int 9716 OH 112 


+75 

+75 

+75 

+75 


+.10 

+70 

+70 


+75 

+75 

+75 

+75 


Commodity Indexes 


Moody's. 


Reuters . 


DJ. Futures. 


Class 
91+00 f 
188120 
121.24 
238*40 


Com. Research Bureau - 
/woody's : base 100 : Dec 31, 1931. 
o - preliminary; f - final 
Reuters : base 100 : Sep. IB, 1931. 
Dow Jones : base 100 : Dec. 31, 197£ 


Previous 

929.101 

1881.50 

2121.72 

239.70 


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10*— to 

44* 

26 NYTIme 32 IX 16 

■44 

43* 

43% 

43* + % 







6* 

4* NewtaE XSe 5J 4 

6 

4* 

4* 

6*— to 

13* 



39 

13% 

UU 

13% + % 

17* 

10* Nswcnr J2 £6 20 

17 

12% 

12% 

12% — % 

39* 

28% SCEdpf 

1J0 33 

1 

39 

39 

39 — to 

11% 

5% NIcftoH B 

56 

IT* 

11% 

11U— to 

7Ito 

16* SCEdpf 

£30 IU 

252 

20* 

20% 

20%— (4 



10 


2% 


28* 

16 5CEdpf 

£21 1+9 

U 

20% 

20to 

20 to— % 

3% 

2* No, ex 20 

26 

2% 

2% 

29k + to 

48 



10 

<714 

67* 

1714 

13* 

10 NordRn 7 

77 

10% 

10* 

10% — to 








18 

13* NoCdOp 

15 

16* 

16% 

85% 

80 

64% SCEdpf 

IN 1IX 

1 

7<% 

74% 

76% — to 

J5 

29* NIP5 of 4X5 12.7 

70S 33% 

J3 

33% + % 

14* 


44 

8% 

8% 

8% 

5* 

3% NuHrxn 5 

10 

3 

2% 

29k— to 

10 

6W Sprit P, 

1X0 1+7 

» 

6% 

6 

6 — to 


^ AMEX Highs-Lo 


urs 


May 


\y2\ 


NEW HIGHS 17 


ALLObs 

DrlvorHars 

MetPra 

PLtO490pt 

WlBcPLpf 


B la Rad Lab B 
GeaRes wt 
osudivan 
SanJasoW 


Bio Rad A 
GrtAmrlnd 
PGE 12SafE 
TexasAlrCp 


CO l Carp i 


PGE 262nfS 
TrkmsCp 


NEW LOWS 11 


BnfSIOA 

HcutMteMf 

McDowEnl 


BnfStdB 
HI Nl Ext 
Sclent Lag 


ESDn 
taolyGo 
Seork En pf 


GPWWest 

JetAmerlca 


Cash Prices May 2 


Commodity and Unit 
Coffee 4 Santas, lb_ 


Printdoth 44 .'3D 38 v a . vd _ 

Steel Wile* (Pin. 1. ion 

Iran 2 Fdrv. Philo, tan 

Steel scrap Not hw Pitt _ 
Lead Spat, lb . 


Capper elect, lb. 
Tin (Slrai*).lb. 


Zinc. E. 51. L. Bov+ lb 
Palladium, ai 

Silver N.Y. at 

Source: AP. 



Year 

ha 



■■I 


me 

TfttJ 

1J8 

Ago 

148 




Cteie 


+65 

473X0 

213X0 

084 

451X0 

213X0 

High Low Bid 

SUGAR 

French francs per metric tan 

Ask 1 

Cfttae 

79X0 

100-101 


UI0 

1X80 

1X88 

1X90 

+ 8 


26-20 


1J3S 

1J05 

1X02 

UTO 

+ 2 





N.T. 

UK 

USD 

+ S 

56372 

6X105 


1450 

1415 

1415 

1420 

+ 5 

0X5-47 

+51 



1J00 

1460 

147S 

— 5 

109 




N.T. 

1J» 

1J45 

— 5 

+18 


Est. voi.: too Mi of SO torn. Prav. actual 
tales: B79 lots. Open Interest: 15643 


DM Futures Options 

May 2 

W. Genron Mark-QUQO morto, arts iw morli 


prim Jua 

Sep 

Dec 

jp 

See 

Dec 

30 

168 

2X4 

2X3 

+14 

051 

0J1 

31 

056 

142 

2.11 

tun 

005 

1X7 

32 

+47 

1.18 

161 

an 

US 

1J2 

33 

0X0 

+71 

L19 

148 

L95 

— 

34 

0X7 

ass 

086 

2XS 

247 

— 

15 

0X4 

0-34 

OM 

141 

3X2 

143 


EPlmated total vdL 8642 
Collt: wed. *oLZ3&5apealte. 42867 
Pet* : wed. voL U4< eoeo InL XITU 
Source: CME. 


UJs. Treasury BUI Rales 
May 2 


Prey 

Yield 


J-monfti 
6-manih 
One year 


7J4 

£03 

OZ2 


7J2 

UI 

870 


OJIO 

£4B 

888 


am 

BJO 

M0 


Source • Salonen Btatoen 


Scotch Whisky Exports Rise 

United Press International 
LONDON — Exports of Scotch 
whisky earned Britain £225 million 
(about S27S million) in the first 
quarter of 1985. (he Scotch Whisky 
Association said Thursday. This 
was an increase of 10 percent over 
the same period Iasi year, it said. 
The volume of exports in the 12 
months ended March was up 4 per- 
cent from a vear earlier, it said. 


Phibrobank Gets New Name 


Reuters 


ZUG. Switzerland — Phibro 
bank AG said Thursday that it has 
been renamed Otrmibank AG fol- 
lowing iLs takeover in January by 
Omni Holding AG. 


o Our Readers 


The S & P 100 index options 
were not available in this editon 
because of transmission delays. 


Paris Commodities 

May 2 


£108 —2 


Z120 


COCOA 

French frond per 180 kg 
AAov 2.120 lira Z10S 

Jlv N.T. N-T. £130 

Sea 2.120 £105 £116 

Dec N.T. N.T. £<B50 

AAar N.T. N.T. 2J60 

May N.T. N.T. 2460 

Jly N.T. N.T. 2860 

Ext. vai.: 130 to* of 10 tom. Prev. actual 
sates: 294 to*. Open Interen: 714 


+ 14 
+ B 
+ 10 


COFFEE 

F ranch Brand per l» kg 
MOV 2-410 2X10 2X00 

Jly 2J05 £500 2X92 

San 2JS5 £535 2J50 

Nov N.T. N.T. £570 

Jan N.T. N.T. £580 

AAar N.T. N.T. £560 

May N.T. N.T. 2J45 


2X60 +25 

£500 + 15 

£579 + 23 

£605 + 30 

— +40 

— +30 

— +24 


Est. vol.T 20 lots of S Ions. Prev. actual tolas: 

S3 to*, Open inter est: 209 
Source: Bourse Ou Commerce. 



dose Pravtoot 
High Law Bid Ask B M Ash 

SUGAR 

Sterling per metric ton 
Aua 10120 10200 1C3JB 10470 106J0 10+60 
11070 106JU 107X0 107 JO 110X0 11 080 
11580 11200 11200 11 £00 11SOO 116X0 
1 •030 12400 125X0 12+00 12870 128A0 
13220 13000 12800 13040 13300 133X0 
13720 13720 13400 134X0 137X0 13800 
ALT. N.T. 13+00 140X0 14200 14+00 


OCt 

DOC 

Mar 

AAov 

Aug 

Oct 


Volume: 1X65 loti of 50 lam. 


COCOA 

Sterling per metric ton 
Mar 1804 1778 I7«7 IJ02 1784 1.786 

Jly IJ45 1018 1038 1040 1019 1021 

1035 1017 1029 1030 1003 1005 
Dec 1002 1780 1779 1780 1784 1785 

Mar lOOO 1779 1778 1779 1.784 1786 

1005 1004 17% 1794 1789 1791 
Jly N.T. N.T. 1750 1020 1.780 1310 

Volume: 3X02 tolsal 10 tarn. 


COFFEE 

Start tog per metric Ian 
May £145 £110 £132 £135 2895 2JHft 

Jly £309 £165 £186 £188 £158 2.159 

Sep £246 £215 £28 £232 £196 £197 

Nov £275 2243 £256 £258 £231 £225 

Jon £300 £262 2JB< £300 <-*« £329 

£770 2765 £255 £275 £210 £240 
May N.T. N.T. £220 £275 £190 £233 

volume : 9X47 to* of 5 Ions. 


Joe 

Jlv 


GASOIL 

UO- dollars per metric fan 

723 JO 219.75 23058 220.75 swaa w f t 
31775 71+00 21775 2T7J0 21+M mjX 
21+50 71475 21600 21675 215+0 21+DO 
?183S 21+50 21800 21850 217S0 21800 
22000 3147] 71975 M.W 21950 vsn •k 
221 JO 221 JO 231 JO 223JS Z22M mto 
N.T. N.T. 77700 25338 23000 22+00 
N.T. N.T. 22SJW 22700 223$ rwnn 
N.T. N.T. 222JK 231 J00 31+00 <*i»Wl 
Volume: £577 lots of 100 tom 
Source s: Reuters ana Union Petroleum Ex- 
cnoffp^ toosoli). 


Jon 


Asian Commodities 

May 2 


HOMO-KONG GOLD FUTURES 
UJL8 per ounce 

Close Previous 
Low BM Ask Bid Ask 
N.T. 31300 315J0 31+09 31+00 
ALT. 31+00 31+00 31+00 3I7J3S 
N.T. 317J0 319J0 31+00 33IUU 
N.T. 31+00 32000 3,«00 32 U» 

N.T, 323J0 32SJX) 32400 326J0 

Dec _ 32800 32800 327 JO 329J0 329-00 331 JO 
Feb - 334JQ 33400 33U0 335J0 33400 33+00 
API _ ALT. N.T. 33800 34000 340 JO 342J0 
Volume: 24 lots of 180 ol 
SINGAPORE GOLD FUTURES 
UJJ per ounce 


HU 
NlPV - N.T. 
Jun _ NT. 
Jly __ N.T. 
Aug - N.T. 
■Del _ N.T. 


Jun „ 
Aug . 


Htab 

317.00 

N.T. 

N.T. 


Low 

31+00 

N.T. 

N.T. 


Volume: 106 lots of lOOaz. 
KUALA LUMPUR RUBBER 
Maftmlan cents pgr kilo 
Close 

BM Ask 

May : 19075 i<i jo 

Jun 19175 192JQ 

Jlv 19450 195-00 

Aug 197 JO 199 JO 

Sep 199 50 200J0 


Settle 

31+50 

320X0 

322X0 


settle 

32fc» 

331J8 

333.10 


volume: 27 late. 
SINGAPORE RUBBER 
Singapore cent* per kDo 
Close 


Prav lavs 
Bid Aik 
19X00 19+00 

19X50 19+00 

19+30 197X0 

199 JO ssua 
2D2J0 20X00 


BM 
16850 
16850 
147-50 
165JD 
16IJD 
156J0 

KUALA LUMPUR PALM OIL 
Ma tertian rtoggiH per 25 tom 


R5S 1 May - 
RSS 1 Jun_ 
RSS2MOV- 
RSS3MPV. 
RSS 4 May _ 
RSS 5 Mav- 


Ask 
16<J0 
169 JO 
16850 
14+50 
163 JO 
15850 


Pray loos 
BM Ask 
17075 17175 

170.50 171.00 

16850 169 JO 

16+JO 167 JO 

162-50 16450 

1S7J0 159 JO 


Del . 


Aiov . 


Jan 

Mar 

volume: 0 la* of 25 Ions. 
Source: Reuters. 


BM 

lJBO 

U20 

1X30 

M4S 

1.330 

5705 

1795 

1775 

1775 


Ask 
1X30 
1J60 
1X60 
IJ6S 
1 J60 
1-345 
1735 
1725 
1725 


1X50 

U50 

1X68 

1770 

1750 

1730 

1720 

1700 

1JOO 


1700 
1 J90 
1X00 
1X20 
1790 
1780 
1770 
1750 
1750 


London Metals 

May 2 


Previous 
Bld Ask 


91 JJO 
929 JO 


Close 
BM l 

ALUMINUM 
Sterling per metric tan 
*>ol _ 912-50 913J0 911 JO 

forward 931.00 931 50 929.00 

COPPER CATHODES (High Grade) 

Sterling per metric tea 
seal 1775JQ 178000 170100 1J05J0 

forward 170X00 1,204.00 1, ITS 00 l.lto.M 
COPPER CATHODES (Slandanl) 

Storting per metric Ion 
spot 1.18+00 1.19000 1.173X0 1.17SJ0 

forward 1.185X0 T.I90JO 1.17X00 ,.17800 

LEAD 

S to rting per metric ton 
OWI 320X0 322.00 31050 3I1J0 

forward 311 JO 3,1 JO 305 JO 30+00 

NICKEL 

Sterling per metric ton 
leaf 4X00X0 +610J0 +580X0 +590X0 

forward +540X0 +55800 4J30X0 +54800 

SILVER 

Peace per troy ounce 

spot 50+00 507 JW 500X0 50100 

forward 522X0 52100 516X0 518X0 

TIN (Standard) 

Starting per metric ton 

soot 9X47M 9X4540 9795.00 9X05J0 

forward 9X3800 9X31X0 9790.00 9790 X0 

ZINC 

Sterling par metric too 
«gt 717X0 719X0 708X0 709X0 

forward 71100 715X0 704.00 70+00 

Source: AP. 


Dividends 


Afar 2 




Per Amt Pay Rec 


DISTRIBUTION 


Cons Capital 


. .133 5-315-15 


INCREASED 


CtoPavCorp 
Dart + Kraft 
IRT Property 
New Plan RHy 
Portland Elec 
Rockwall Inti 
&al«co Core 
Stand Brands 


O XS 

6-15 

5-24 

Q 11.17 

6-10 

5-17 

Q 42% 

6-15 

5-17 

Q XSV, 

7-1 


0X7% 

7-1S 

6-25 

O 28 

6-10 

5-13 


-40 

.14 


7-22 

6-17 


7-5 

5-15 


Missouri Pub 5vc 


- 2% 6-12 5-17 


STOCK SPLIT 
oopov Core — sxor-4 


Amor General 
Atkeitlc Amor 
Secor Western 
Butter tail 
Carter Hawley 
Cttosebraugh 
Comm Shearing 
Control Data 
Eagta PWftgr 
FlecfrospacB Svs 
Farr Co 

Foremosr Cp Amer 

Foster (I B.) 

Praepor MUeMo Ran 
GulHard Mills 
Gulf Slates Util 
Gultan Indus 
Hernia (MA) Co 
Huahas Supply 
inoersoFRand 
Kearney Natl 
Lafarge Carp 

Marian Labs 

McDonald Co ln« 
McKesson Cp 
MkfCon 

Mine Satoly Ana 
Missouri Pub Svc 
Nabisco Brands 
Nawestorn Pub Svc 
Overseas ShiphKtoa 
Profit Svslems 
Sctenl Atlanta 
Stepan Co 
Tan Brodestlno 
umiCorp United 
VernJTron 
Walker iHirani Res 
Walter (j.| Core 
XTRACara 


25 

.10 

.11 

.13 

JO 


8.,-*° 


6-1 

8-1 

6-7 

5-27 

5-31 


5- 13 

6 - 20 
5-10 

5-8 

5-17 


6-25 6-4 

6-14 5-31 


fji i 


Q 

.18 

7- IS 


« 

20 

6-1U 

+17 

O 

JO 

5-24 



M 

6-14 

+24 

u 

24 

+ 14 



7-31 

7-1S 


.15 

6-3 

+15 

U 

.17 

5-20 

+10 



+15 


0 

-IS 

+1 

+17 

u 

.10 

+17 

+22 


XB 

+24 



65 

+3 



.10 

+1 

+15 

u 

X5 

5-31 

+17 

a 

X7 

7-19 

+20 


XS 

+20 

+10 

0 

60 

7-1 

+3 


J9 

7-15 




+10 

+ 17 



+12 



67 



a J2% 



a .re % 

5-H 

+14 



+29 

+15 


X3 

5-39 




+1S 

+10 


28 

+15 



J3 




JH 

7-3 




7-1 







.16 

5-31 

+15 


A-Apnwafj M-MeeHHy; O-Ouartorty; 5-Semd- 


..J 


Construction Orders 
Rise for Korean Firms 


Reuters 

SEOUL South Korean com- 
panies won Sl.Z billion worth of 
overseas construction contracts in 
the first quarter of 1985. up 18 
percent from the same period Iasi i 
year, officials or the Overseas Con- 
strucuon Association of Korea said 
Thursday. 

It attributed the increase to ef- Ji 
forts by Korean contractors to , 
avoid excessive competition among • 
themselves. The association has act ■ 
a target of $5 billion in overseas 

wniracls for 1985. down from S6J ‘ 

billion last year. 





i 



Ppiy? 

Ojij&ciuihw. 

Inc Ir\„«os, 
Wfrl^ lhtf t'lRU- 
MtnArtahhm 
l*t**ttj !hc,. m . 
3* ,te in 

ffiWtti aivms to 

fo, 

w- Ufc* iv.uc of 
-*** o! force », 
l • 1 t , Pi‘T-ri- 
i, K , 

aUIi:\ \riHiu., 

slrarrr 
iert\Jers 
• • ;:• . Iiom Ihc 

tl ‘ ^sl 
3t ' . i'.-Nvtticed 

5%- ." !i:i- 

m ^ 

>»»■ 

KWi ' -m- 


29% in Quart© 


. • : By Warren Gctlcr _ « , ' 

. r**r«aiKMaJ Herald Tnbunt cr. Sales abroad, benefiting from 

' FR'AWKFURT — K n .*i, c# enljanc f i Pn«-ooinpctitiven€ss as 
. AGY first quarter worM.SS, 1 V?5 1 .a 1 a weakened DM, 
profit surged 29 t S rc jS f hm ^ 1 ?-«P«at.to828 bD- 
maEta DM($27 iTSmW^ ^ wD M ! far stronger than the 18 

chairman, said TLur«ky° ^ oarcl Mr. Sammet said that more than 

: MSBR ssa 


1004 ----- uuuwu L/m m © 

poccnt from the 909 a 
million DM the vear earii«- TtW _ 


certain risks — in the first instance, 


miuion OMtheyearearlicr.lt has 

Ml Sammet said Hoeehst wiD 
7DM « share; from chart a future course aimed at pro- 

Mr." Sammet said the am& race 
<rf profit and 


S Hoechsfs share 
3-30 DM. to 209.40 


promise, he said, are technical ce- 
ramics — with application in en- 
gines, electronics and medical engi- 


_ nL-Z ,~ ■ J ema, cumihuw aim mcmcai cngl- 

onthe Frankfun Stock Exchange, neering — and production of 
despite toe news of strong first human moil™ through a genetic- 


profits. Analysts say the engineering process. ^ 
market was wary oT thrae compa- Producfionof ta&mcal ceramics 
®« heavily de- fc already under way at Hoechst 
p^entonfljcotchangeratetrfthe following the compares takeover 
gyrating 1 US. dollar. . . last y^of RosenthJtedmik, the 

Mr. Sammet said Hoechsfs former West German subsidiary of 
world revenue jumped 8.7 percent RnaiirTwl fli«« Vobone produc- 
in die first quarter, to 11.04 biSion tjon of h mhan mgnlm is nnf mtiwi- 
DM from 10.16 biUica a year earfi- ed until 1987. 


engineering process. 

Production of lechmca] ceramics 
is already, under way at Hoechst 
following the company's takeover 
last year of Roseathal TedmOc, the 
former West German subsidiary of 


Lloyd’s of London Member 
To Shut Because of Losses 

Routs 

LONDON — A member of Lloyd's of London, the world's biggest 
insurance market, said Thursday that it would cease trading by the 
end of this year, in what may prow to be one of the biggest failures in 
Lloyd’s 300-year history. 

Richard Beckett Underwriting Agencies said that losses incurred 
by the syndicates that it manages aL Lloyd’s had severely impaired its 
ability to continue in business. 

Insurance industry sources said the losses, relating to 1982, could 
amount to £100 million ($120 million) and that 1983 and 1984, whose 
results are not yet available, could bring niore bad news. 

Richard Beckett last month told the 400 members of the three 
syndicates that it manag es that “substantial provisions for losses” 
would be necessary. 

Richard Beckett said the 1982 losses had been run up by PCW on 
underwriting UJS. casually insurance. It said it was “unable to form a 
view” about the 1983 and 1984 underwriting years. 

Under Lloyd’s rules each member of a syndicate, mduding those 
who have merely invested in it and take no active part in its business, 
has unlimited liability for its losses. 

Richard Beckett is owned by Minet Holdings, one of the five largest 
insurance brokers in Britain, which said Thursday that the losses were 
the responsibility of the members, not of the Minet group. 

Minet said it had set aside £83 mUfian for the orderly dosing of 
Richard Beckett, to protect as far as posable the interests of share- 
holders, employees and members. But Minet added that it would 
vigorously defend any legal action brought against it over the losses. 

Richard Beckett was formerly PCW Underwriting Agencies, also a 
Minet subsidiary, which three years ago was the focus of one of the 
biggest scandals ever to hit Lloyd’s after the disclosure of deficiencies 
totaling nearly £40 miTtfrm Some of the missing money, alleged to 
have been misappropriated by PCW executives, has since been 
recovered, awH Mmet made good much of the Kainriw* 

Peter Dixon, PCW*s former chairman, was fined £1 million and 
expelled from Lloyd's and is now an insurance broker in Miami. The 
easels still under investigation by the British Department of Trade. 


Uniroyal Says Holders 
Backed Defensive Moves 


Air New Zealand Ltd. has been 
wen approval to buy six new 


The Assodaed Pros 

NEW YORK — Uniroyal Inc. 
said Thursday that a certified tally 
showed that stockholders narrowly 
approved two anti-takeover mea- 
sures opposed by Carl C. Icahn, 
who is making a bid for the rubber 
company. 

The fight now will move into the 
courts, where Mr. Icahn is chal- 
lenging the vote-count procedure. 
He contends that some of the votes 
cast for shares owned by his com- 
panies were unfairly disallowed. 

Uniroyal, which had repeatedly 
reopened and recessed its annual 
meeting the past two weeks await- 
ing a final vote count, said the mea- 
sures were approved byjust over 67 
percent of the shares voted. The 
measure s required a two-thirds ma- 
jority, or 66.7 percent, to take ef- 
fect. The vote was taken April 16 at 

the company’s annual r nty rin g . 

Mr. Icahn tia<i no comment, his 
secretary said. But Mr. Icahn previ- 
ously said he would: drop the effort 
to buy a controlling interest in Un- 
iroyal if the anti- takeover measures 
took effect. 

Uniroyal. which is based in 
Middkbury, Connecticut, said a 
trial is scheduled to begin Monday 
in a New Jersey court on Mr. 
Icahn's challenge to the final tally 
as reported by Corporation Trust 


Co., a Delaware bank that special- 
izes in certifying such votes. 

Mr. Icahn announced April 10 
that he was making an SIS- a- share 
offer for up to 53 percent of Unir- 
oyal’s 34 million shares. 

Mr. Icahn already owns about 10 
percent of Uniroyal. The anti-take- 
over measures, which were pro- 
posed by the company before Mr. 
Icahn began his bid, would make it 
difficult for anybody to gain con- 
trol of Uniroyal without the ap- 
proval of the board of directors. 

One would stagger the terms of 
UniroyaPs 12 directors and require 
that c hants in corporate bylaws 
governing mergers be made -only 
with an 80-percent favorable vote 
by stockholders. 

Another, called a “fair price” 
provision, would require that all 
shareholders receive the same price 
for their stock under the same con- 
ditions in any takeover. 

Mr. Icahn said that if he succeed- 
ed in obtaining 53 percent of Unir- 
oyal's stock, he would then merge 
the company with one of bis com- 
panies and give the remaining 
stockholders securities worth $18 
for each share. 

The purchase would be made 
through Robin Acquisition Corp., 
a Delaware corporation formed by 
Mr. Icahn. 


Boeing 737 aircraft at a cost of 
more than 200 million New Zea- 
land dollars (about $9l million). 
The planes will replace others in 
the state-owned carrier's fleet that 
are up to 17 years old. 

Bulk of Boston Corp. said it is 
reducing its government securities 
trading business. A company 
spokesman said the bonk decided 
that the government bond market 
had become very competitive and 
required more resources than the 
hank was willing to devote to in- 
sure profitability. 

Beeduun Group PLC said it is 
investing £40 million ($48,9 mfl- 
lioo) at Irvine, Scotland, to expand 
production fatalities for potassium 
clavulanate to 'meet increasing 
world demand for its new genera- 
tion of antibiotics. 

Broken Hffl Ply. has sold a tin 
mine at Kelapa Kampit on Bdi- 
tuna Island. Indonesia, to Preussag 
AG for an undisclosed sum, BHP 
said. Broken Hill said it will contin- 
ue mineral exploration and devel- 
opment in Indonesia through its 
Utah Internationa] Inc. unit. 

Crown Z etotach Corp. said its 
annual meeting win go ahead as 
scheduled May 9 after a Nevada 
court overturned a lower court rul- 
ing granting a request for a two- 
week delay by James Goldsmith, 
the British financier who an- 
nounced and then called off a take- 
over bid. 

Dow QttHBca) Co. win purchase 
the polymer chemical operations of 
the Upjohn Co. for an undisclosed 


price, the companies said in sepa- 
rate announcements. The transac- 
tion has been approved by direc- 
tors of both companies but requires 
federal regulatory approval 

Harris Corp. said it win merge its 
Lanier business products and in- 
formation systems sector into a 
new $800- million business unit to 
serve worldwide markets for data 
processing, office automation and 
communications. 

Hughes Tool Co. is seeking mini- 
mum damages of $722 million plus 
interest from Smith International 
in a 13-year-old patent-infringe- 
ment lawsuit in which the toolmak- 
er contends that Smith made drill 
bits using a seal patented by 
Hughes. 

James Hanfie Industries Ltd. 
said it has taken over Worldwide 
Paper Factors Inc„ an Oregon- 
-based paper company with annual 
sales of about $20 million. No price 
was disclosed. 

Wells Fargo & Co. said it plans 
to shut down its London branch 
and New York office as part of a 
plan to refocus international opera- 
tions on trade-related business be- 
tween California and Pacific Basin 
countries. 

Woodsade Petroleum Ltd. direc- 
tors have decided not to call an 
extraordinary general meeting of 
shareholders to discuss a report on 
a proposed joint takeover by Shell 
Australia Lid. and Broken HU Pty. 

WonnaM International Ltd. said 
it rejected a partial takeover bid by 
Adelaide Steamship Co. and is 
looking to sell some of its assets. 



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(Continued from Page 13) 
foreign, but mainly Swiss, banks. 
” Under U.S. h anking and tax 
laws, any interbank transaction ex- 
ceeding $10,000 must be reported 
to the tax service and the U-S-Trear 
sury. The vast majority of these 
unreported transactions took place 
with Switzerland’s three biggest 
banks — Union Bank, Swiss Bank 
Corp. and Citdit Suisse. 

. In a bearing last mouth by the 
House Ranking subcommittee or 
financial institutions, investigators 
•showed a chart (stows with fins 
article) that graphically illustrated 
the huge financial flows between 
Bank of Boston and the Swiss 
tj&nks. At the same time, the sob- 
committee investigators displayed 
another that they said revealed the 
financial transactions between 
Bank of Boston and the city’s Aa- 
ggulo famfty, reputed to be the Bos- 
ton area’s ruling organized-crime 
figures. 

.Bank of Boston officials have ac- 
knowledged that, from 1979 to 
1983, the bank sold cashier's checks 
totaling $7,372343 to members of 
the Anghdo family. Of that sum, 
checks totafiag S2J63.457 were tar 


of ' Dirty 9 Money: U.S, Officials Shift Their Attention to Switzerland 


surprise at the angry tone of the During die past four years, U.S. 
hearings, which. zeroed in cm the officials say, qv»Hai federal task 
fact that most of the cash tranters forces put of hn^ni^ rir 


mg the main U5. branch of Credit ey laundering into a serious federal 


Suisse, investigators say. 

AHmrni.wanrw i and congTCSao- 


At present, it is not a crime at all. 


drug trade. The subcommittee’s nent in another dozen cases invdv- at or Alfonse M. D* Amato, a New means of arresting laonderers. Un- 
chamm h. Re presentative Fernand mg a total yearly laundering turn- York Republican, recently reintro- ^ the D" Amato ML those in- 
J. St German, a Rhode Island over of SLoMton. ' dneed two bills that would make all drived in money lonr ^ ng in- 

Demo craLsul jectedy of Bos- Accorfizi _ to fcderal money found to be involved in any clnding bankers and olbcT 

thebt^Sorganizations included stage of ttolau n de n ngproc^ sub- finanriers, would be liable to fines 
.rage of questions and accusations. gained from J«t tosraire by federal anthon- of m toSinfiOOOneroff^^nd * 


dneed two bills that would make ail in lann^wing m_ 

money found to be involved in any eluding bankers and other 


sess sub- financi ers, would be liable to fines 
anttlon - of up to $100,000 per offense and a 


find their American brandies oper- cripple the international payments 
ating under subpeana and subject- system by imposing huge clerical 
ed to very intensive reporting pro- burdens. U.S. Treasury Secretary 
ceduresr James A. Baker 3d, for example. 

Aware of the threat, Swiss banks has asked Swiss banks to help track 
have decided to cooperate fully die millions of small bills that they 
with the Uj>. authorities. “We are forward to the United States, often 
ready to Ex plain everything about tor conversion into new $100 bills, 
our currency t ransac tions, said But Swiss bankers contend that 
one leading Swiss banker. “We by the time the bills reach them 
don’t want drug numey, and frank- from correspondent banks 

Ilf A*W |U MAAfl «• "* . ■ . r I I 


One stocommittee member, Eh- ties. TtoMk would also turn mon- 

runs Denaoat Frank Anmmao, extortion through a Philadelphia “Some international financiers 

suggested that bantowbo failed bank to a privatebank in Geneva! 


ly, we don’t need it” 
Money- changing and cash trans- 


dxwt the world, the money 
y has been effectively laun- 


stamp license ptates, a traditional Brown Brothers Hamman & Co. in 
occu pati on ofUJi. convicts. New York, where it was picked up 
So far, no Swiss hanVwg have in cash and placed in a safe-deposit 
been r»li«| as witnesses. Even so, it box in Chase Manhattan Bank, 
seems untitety that the Swiss wm Officials also point to the case of 

escape attention in the fnture be- ^ ^ bratco 
cause both Congress and the Rea- fion,” so named because pizza par- 
gan administration are placing ^ throughout the United States 
great e mpha sis on breaking up the weie use( i ^ hodn drops by orga- 
big mooey-laundering nog? as a n j ze( j crime. According to investi- 
mmor means of slowing drug traf- gators, the ring's organizers used 

several well-known U3. financial 


n . , n , may soon turn into international 

hxwneenng Orders fugitives," said James D. Hannon 
If Jr n executive director of the Prcsi- 

Up in W. Germany 

Reuters the Swiss must pay more attention 

, to laundering operations, noted: 
FRANKFURT — New orders “-in war tin ^ Swiss neutrality may 
for the West German e n g in ee rin g be viewed as morally admirable, 
industry rose a real 13 percent in but in the war against the drug 
March from a year earlier, the in- trade, neutrality amounts to com- 
dnstry trade association VDMA plidty." 
said Thursday. c_.-j _ ■ i c .rr^.i 


fere developed into a Swiss special- dered and that noting the serial 
ity during the 1930s, when most number of each bill would not nec- 
otber European countries had strict essarily establish a trail back to 
currency-export controls. Al- drug trafficking or other illegal ac- 


Domestic orders rose a real 1 who refused to be identified: “We 
percent in March, while foreign or- are going to give money-laundering 
ders rose a real 24 percent. VDMA the bad name it deserves. And if the 


nl's Commission on Organized though Swiss banks have remained tivity. “Trying to catch drug criirri- 
ime. Mr. Hannon, who feels that the cash-clearing houses for Ea- nals via the payments route is diffi- 
e Swiss must pay more attention rope, the Middle East and parts of cult,” said Hans Mast, the highl y 
laundering operations, noted: Asia, the business represents only a respected chief economist for Crftf- 
□ war time, Swiss neutrality may small part of total banking activity, it Suisse, 
viewed as morally admirable, For the country’s three biggest ^ eyer . dollar bill has to be 
it in the war against the drug banks, for example, cash-clearing examined ^ M aM<an pt made to 

ide, neutrality amounts to com- accounts for only 2 percent to 4 lracc - lts origins, the world pay- 

“ty-" percent of annual net profit and ^ systemwould be severely 

Said a U.S, Treasury offidaL perhaps 3 percent to 4 percent of dewed down and the hant-s would 

* * i > «"« total volume. 


have to pass on large expenses to ! 


A major Swiss concern is that the consumers,” he said. “We have 
U.S- officials will insist on a form to ask ourselves: WUl the reward be 


a™ _ jiv tnj “What is a big drug trafficker institutions to transfer millions of added the low domestic increase Swiss do not cooperate, (bey win of currency surveillance that would worth the cost?” 

WdC HA ■»»».— . I. Lfl” Un U JnllM ■« mull kiTIc nftmn narlroH rrfllVfMi iYwm«ric™i with nn. 






p»Tlreiovestigators rfidsot seek to; 
establish a tok between Bank of 
Boston’s Swiss transactions and its 
dealings with the Anankos. Nrme- 
tfidess, the side-hy-side display of 
the two darts in toe hearing room 

nnf^ietuViiWfe impBctfiOBS 

tSwiss bankers were caught by 


without a bank? 1 * asked John M. dollars in qnatl bills, often packed 
Walker J^tte Treasures assistant in cardbomd boxes, to accounts 
secretary for enforcement and qp- with the Merrill Lynch & Co. 
eratious. **He can't walk around branch in Zurich, 
wito suitcases stuffed with $20 Another ring, of Colombian 


eratious. "He can't walk around 
with suitcases stuffed with $20 
Mis.” 

The new emphasis on cracking 
the laundering ring? has produced 
some dramatic results, officials say 


reflected the comparison with un- 
usually strong orders in March 
1984. 

In the first quarter incoming or- 
ders rose a real 18 percent corn- 


drug financiers, also managed to pared with the same 1984 period, 
convert at least $150 sMon in with domestic orders up 10 percent 
small bills into new currency at five and foreign orders rising 24 per- 
major banks in New York, indud- cent, it said. 




w* * 


frvAtU* f. 

vr** *-« ''‘T' 


m " 


i-.MT 

■*'* 



US$ 1,008 million 


Deposits 

us$ 

10,512 million 

Loans and Advances 

us$ 

5,153 million 

Total Assets 

us$ 

14,348 million 

Profit before "ifex 

us$ 

277 million 


Capital/Assets Ratip 
Branches and Offices in 


70 Countries 


Principal Subsidiaries . 

Bank of Credit & Commerce International S A., Luxembourg. 

fonk of Credit & Commerce International (Overseas) Ltd., Grand Cayman. 


SubsKfiaries, Affifiatesand their branches/offices in fhe fWSowii^ countries 


Australia 

Bahamas 

Bahrain 

Bangladesh 

Barbados 

Botswana 

Brazil 

Cameroon 

Canada 

China 

Colombia 

Cyprus 

Dpbouti 

E£ypt 


France 

Gabon 

Germany (Vfest) 
Ghana . 

Gibraltar . 

Grand Cayman 
Hong Kong . 
India 
Indonesia 
IsleofMan - - 
Italy - 

Ivory Coast 
Jamaica. 

Japan 


Jordan 

Kenya ; 

Korea (South) 

Kuwait 

Lebanon .. 

Liberia 

Luxembourg 

Macau 

Malaysia 

Maldives 

Mauritius 

Monaco 

Morocco . . 

Netherlands 


Netherlands Antilles 

Niger 

Nigeria 

Oman 

Pakistan 

Panama 

Ruaguay 

Philippines 

Fbrtuga] 

Senegal 
Seychelles 
Sierra Leone 
Spain 
Sri Lanka 


Sudan 

Swaziland 

Switzerland 

T hailan d 

Togo 

Turkey 

UAE 

United Kingdom 

Uruguay 

USA 

Vfenezuela 
\emen (North) 
Zambia 
Zimbabwe 


AnnDtzDCdncflt by ftSoutKi Afficso Qf ^inlTutm n 


Gold Options lytohSrtL). 

ft™ | | tot 

3W IOAI2CO 

m sst too mu «a» 

330 250101 1230.1400 »nwm 

3® 075-200 VJXMOSD 14SD.ISOO 

3SD 040-141 400 730 UOO-MJO 

30 025 075 4SD- &00 KMMUt) 

HO 275 425 775 »3S 

CoU 31450-31503 

ValeanWUteWeM&A. 

U Qua! da Moot-Stac 
1211 Gam L S» ittert™d 
TeL 310251 - Tdex 2S305 


STOCK USS USS 

DeVoe-Holbrin 

International bv 5Mc 6V4 

Gry-Qock 

Inkmatioml nv 2% 3V4 

Quotes as of: May 2, 1965 

Investors seeking above average 
capital gains in global stock 
markets can simplv write us a 
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ESCOM - AN INTERNATIONAL GIANT 

IN POWER 

Mr. I. C. McRae , Senior General Manager ofEscom y talks to David Carte , 

Editor of the “Sundry Times Business Times". 



Mr. I. C. McRae 
Senior General Manager 
ESCOM 


T he Electricity Supply Commis- 
sion of Sooth Africa, known 
coOoqmafiy as Esconz, is one 
of die world’s top ten power 

utilities. 

Chief Executive, Ian McRae, dies some 
impressi ve figures: Escranisa$I2-biUion 
organisation equipped to generate 24,514 
me ga wa it s of electricity. “Last year we 
burned 59 million tons of coal, consumed 
77H fwlhVwi lines rf water and met a peak 
demand of 17,296 megawatts. Ws employ 
65,000 people and supply 94% of tire 
power of South Africa.” 

F-Vfflm generates no less than 60% of all 
power generated in Africa and has 
revenues running no $L9-b3ton a yean 
Escom power is dismbtiied via an inter- 
connected high voltage transmission sys- 


ifae entire country. 

Escom, says Mt McRae, is not only one 
of the 10 biggest power utilities in the 
wodd but also one of the fastest expand- 
ing. Ic plans to in cr ea se capacity at 6% a 
year, which implies hOTinas erf dollars of 
spending for years to come. Lasr 
year ir spent $L75-b01k>n on expansion. 

have five 4,000 MW coal-fired 
p o wer stations under construction. In 
jAtiriwij we are putting the finishing 
touches to Koeberg, our first nuclear 
station and our second big pump-wongc 
scheme.’* 


Because South African coal is among the 
lowest priced in the world and most of 
Escom’s power stations are situated on 
coalfields, Escom power is among the 
cheapest in the world. About 90% of 
Escom’s power is coal based. 

The Cape province in the south of the 
country has no coaJ resources. For this 
reason, Escom’s first n uclear power sta- 
tion, Koebesg, is located near Cape 
Town. 

According to Me McRae, South Africa 
has enong h coal to provide the bulk of 
Escoa^s power up to 2025. 

“\5fefl before that, we shall have to look to 
alternative sources of power Vfe have no 
plans for another nuclear station in the 
rx^rr few years but it see m s obvious that 
we shall have to follow the nuclear route. 

expea to start the groundwork for a 
major nuclear power programme about a 
decade from now. iW this reason, we 
have built up a largely independent 
domestic xmdear power infrastructure .” 

One of die biggest constraints on Escom’s 
g r ow t h is water. Because of this, the 
corporation has become a world leader in 
dry cooled power stations, even though 

these are 5% more expensive to build and 

5% more expensive to operate. 

One advantage of nuclear stations on a 
coastline without coal is that sea water 
canbeusedmcoahng. Another attractive 
option for providing peak load in South 
Africa is hydro-electric power. Escom is 
also prepared to participate in potential 
hydro schemes all over the sub- 
continent. 

Apan from supplying 94% of South 
Africa's ekctridiy needs, Escom sup- ■ 
plies several states bordering South 
Africa, induding Mozambique, Swazi- 
land, Lesotho, Botswana, southern 
Zimbabwe and Namibia. Escom buys 
power f rom the 1,450 MV CaboraBassa 
hydro-deeme scheme in Mozambique. 
The biggest el ectrici t y consumers in 
South Africa are mining, heavy industry 
and bulk consumers, such as 
mniii i' ip fltirit^-, which are responsible for 
domestic reticulation. 

All three areas of demand are growing 
fast. A large part of South Africa’s popu- 
lation has traditionally lived under third 
world conditions — without electricity. A 
na tion al pn^iaunn c to electrify all mhan 
townships implies enormous growth. 


About 80% of the cost of today’s power 
stations is spent inride South Africa. The 
imported portion is usually high technoL 
ogy equipment, such as turbines, boilers, 
pumps and control equipment. Escom 
invites tenders for these from all over the 
world. 

Another reason foreigners are interested 
in this South African giant, is that Escom 
is largely loan funded and a substantial 
portion of its funding comes from foreign 
capital markets. 

As a statutory corporation, Escom is nota 
profit making organisation. Electricity 
t ariff s are adjusted periodically to cover 
current operating costs. 

Escom raised $1.2-biIlion in local and 
foreign loans last year and issued $500- 
million in bonds to the secondary capita! 
market. Its interest costs, at $600- 
imllion, constitute a major portion of its 
total costs. Internal generation of funds 
during 1984 amounted to $650 million. 
Today Escom’s foreign liabilities total 
$2.75-biDian which is well within its 
funding capacity. The corporation has an 
impeccable borrowing record and its sec- 
urities rate highly in European capital 
markets. 

Escom bonds have recently been iden- 
tified as particularly attractive by foreign 
investors. At more than 16% , South Afri- 
can interest rates on prime bands are 
currently amongst the highest in the 
world. Consequently, attractive invest- 
ment opportunities exist in the South 
African money and capital markets. 

Foreign investors looking for a hedge 
against a weaker dollar have reasoned 
that a weaker dollar would make for a 
stronger gold price and rand. This would 
ease the liquidity shortage in South 
Africa and could bring interest rates 
down, resulting in handy capital gains on 
these highly tradable securities. 




3%‘Sr- • 
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May 2 


NASDAQ National Market Prices 




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DEPOSIT RATES 


73i%* 




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Dollar 


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* Interest rate fixed until 1st July 1985 

* No tax deducted at source 

* Sterling accounts also available 

* No minimum required 


I Mr. C. Btompied, 

Royal That Bank (Jersey) Limit ad, 

P.O. Bax 194. Royal That House, 

I Colombo* la. SLHefler, Jersey, 

Channel Islands. 

| | 1 1 am Interested In opening a special 

I — I e xpa t ria te account, please send 

isa del ill to 


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INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 


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y’s Foreign Trade With Germany 

facial Relationship Confronts Economic Necessities and Political Realities 


By Henry Tanner 

? nonal Heruid Tribune 
~ “ We ^ nniatain- 


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a&wi trade and financial “ 001 subject to customs duties or er of .technology in the form of DQss 
x«anQns Between the two Genoa- other levies, was about 15 hfltinn industrial equipment that the Fast oow. 1 


r - ' Deutsche marfcs~(54.85 billion) is Germans can ' use to modernize The arrangement is a political 

‘There is a cat and a mouse," their own factories, increase pro- oddity as well as an economic one, 

said an economist in West Berlin, S&ying. that- this is not traditional duedon and save raw materials and because East Germany and the So- 

“East Germany is the cal and West for ®‘8n trade, officials on both energy. viet Union have accepted a special 

Berlin the inouse. If it were not r<» sides avoid the terms “‘exports” and When Economics Minister Mar- relationship between the two Ger- 

that, there would be no reason for “imports," and speak instead of tin Bangemann visited East Berlin many* in the economic field that 

us to support the East German deBveaiesi and purchases. in early Match, he was told by both continue to reject on the polit- 

economy asweda M East German sells to West Ger- Gamer Mittag, the Politburo mem- icalleveL 

tti^ r-_ ^ many all kinds of textile products, bar responsBdefor economic qoes- The foremost goal of East Ger- 

Gennan?S« 411 inclnding suits, dresses, underwear, twos, that East Germany wanted to man foreign policy is to secure per- 

w ‘ , VS™? 1 * tablecloths and bedsheets.lt also increase those kinds of purchases, manent unqualified acceptance as 


Germans, 


^^themmodemin- 
te?l bbc5poIicy sets. -.r^. dustrial equipment that they do not 

ommer-ueeman trade. West German departatent stores produce themselves but that they 


® - ' This trade relationship and the are a mong die Waning customers, need to make their industries more ed the trade arrangements because 
special financial relationship dial and are doing a profitable business, productive and their products more it is one of their prime benefida- 
underpins it involves an economic Markups an men's suits, far in- competitive,’’ another West Ger- Ties. 

neoesaivfor-Etsl Germany and a stance, are repeated to be as high as man economist said. “For ns, there is no incentive in 

political necessity f or W cst Genua- 100 percent. “For the GDR one of the tumor- trade with East Germany.” said 


necesaw lor Easl Germany and a stance, are reported to be as high as man economist said, 
political necessity for West Geraa- lOOjperoenL “For the GDR one of theimpor- 

ny- “You can hardly see the differ- taut thing ? is that tbrooghWest 

After the Soviet Urncm, the Fed- ' ence, they are using Western do- German companies tbey have im- 
eral Republic is Fast Germany’s' signs," -a bnsmessman in West Ber- mediate access to spare. parts for 

second- largest trading partner , it fin said , of men’s and women's every piece of indnstriai madrin- 

accounts for about 12 percent of ready-to-wear clothing made in cry, whether it is originally from 

East . Germany’s overall foreign East Germany. Japan, Italy or India,” the eccmo- 

trade^ or about half the total East Inexpensive East German textile mist added. "They know they can 


.German tradewith Weston conn- products have replaced similar 
■tries as _ a vdiole, accmding.to the items mqmitedi from South Korea, 


“For us, there is no incentive in 
trade with East Gennany,” said 
one West German official. “For us 
it's political.” 

The trade is conducted under an 
arrangement that may well be 
unique for sovereign stales. 

In 1951, when they still were 


ist Gennany. Japan, Italy or India,” the econo- . in 1951 , when they still were 

Inexpensive East German textile mist added. “They know they can hardly on speaking terms, the two 
©ducts have replaced similar get a replacement witlrin 24 htrare governments deoded that there 
ms imported; from South Korea, from us. These are things that should be no official exchange rate 


German Institute far Economic Taiwan and other Third Worid could dnu down an 


IJtesrarch m West Beifin. ' countries wb 

T The Soviet Union accounts for CQai£ !^ e .' e 
almost 40. pereeni- of the German paced m 

pemocratte ; Republic’s overall man added. 
trade; 30 percent is with other So^ West Gen 
dafist countries'^iKl the remaining Germany ch 


.. ... . , line betwwn their two currencies. They 

countnes.whose products have be- or enure factory for weeks or agreed that payments for goods 
come mare expeaave to months if they had to go back to sold and bought would be made in 

are priced in dollars, the busaness- the original supplier. “units of account” through the two 

man added. "The East German link with state banks, with an open-ended 

West German exports to East West Gennany is of tremendous balance. A “unit of account” is the 
Germany chemical products, ma- advantage to the Russians, other- equivalent of the West German 


\V*>, V v 


5 or 6 percent is with Third Worid cfainery and dectro-tedmicai prod- wise they would not permit it,” the 
nations. nets, steel and iron products and economist said. “We nave a nation- 

imT ^ For West Germany, trade with agricultural goods, according to the al and cultural affinity, the same 

^ vw are a single E 351 Germany accnmm for less Ministry of the Economy in Bonn. . language, and the Russians know 

dinlnmm a . Wcsl Gtniffln lh “n 2 percent of the total Hie Federal Republic is East that a man from Dresden or Ldp- 

-^d in answer to a Total inter-Gennan trade, which Germany’s most important suppK- zig get more in Frankfurt and 
quesuoa about trade and financial a not subject to customs duties or er of .technology in the form of DQsseldorf than anyone from Mos- 


teblcdotbs and bedsheets. lt also increase those kinds of purchases, manent unqualified acceptance as 

rn do * r t : « sdls shoes and other leather goods, PoUutkm-control devices for in- a fullfledgal state from Western 

0811 to ® akc furniture, home furnishings, toys, dustry also are on the East Goman nations. And the Soviet Union is 

- u X cs as "“rep 16 ^ possible — glassware, optical instruments, shopping list. deeply suspicious of anything that 

electrical equipment and television ^We are setting them modem in- might smack of specialties between 

sets. . duct rial eq ui pment that they do not East and West But in the view of 

West German department stores produce themselves but that they Western economists, it has accept- 



Martin Bangemann 

Deutsche mark. No currency 
ch a n g es bands and an accounting is 
made on papa 1 once a year. 

If a West German department 
store buys a half- million DM worth 
of furniture from an East German 
concern, it pays the amount into a 
special fund set up by West Ger- 
man Federal Bank. If East Germa- 
ny makes a purchase in West Ger- 
many, the Western vendor is paid 
from the same fund. 

The system has enabled the two 
governments to ignore the fluctua- 
tions between the DM, one of the 
world's strangest currencies, and 
the East German mark which has 
depreciated over the yean in com- 
parison to Western currencies. 

The accumulated debt to West 
Germany that the East Germans 
acquired since the start of the sys- 
tem was about 3 billion DM al the 
end of 1984, down more than one 
billion DM from the preceding 
year. 




Caledonian Aviation 
Changes Management 


By Brenda Hagerry 

Inremarional Herald Tribune 

LONDON — Caledonian Avia- 
tion Group, whose main subsidiary 
is British Caledonian Airways, is 
reorganizing its top management in 
a move it describes as setting a 
coarse for growth. 

The restructuring centers on ap- 
pointing two executive vice chair- 
men and creating the post of (Erec- 
tor of strategy. 

Alastair Pugh, formerly manag- 
ing director of British Caledonian, 
was appointed an executive vice 
chairman and director of strategy. 
He will be responsible for planning 
the strategy for the long-term busi- 
ness development of all group com- 
panies. Trevor Bond, who contin- 
ues as group finance director, was 
also named an executive vice chair- 
man. Mr. Boud's duties wiQ include 
overseeing plans for a public share 
offering “within the foreseeable fu- 
ture." 

David Coliman moves up from 
deputy managing director to suc- 
ceed Mr. Pugh as bead of British 
Caledonian. 

The group, which last year had 
revenue of £526 milli on ($652 mil- 
lion), comprises British Caledo- 
nian, British Caledonian Travel 
Holdings, Caledonian Airmotive, 
Caledonian Hotel Holdings and 
British Caledonian Helicopters. 

Sir Adam Thomson, chairman of 
the Caledonian Aviation Group, 
said British Caledonian had 
reached a new stage iu its develop- 
ment. The airline has became a 
major scheduled service carrier. 


with a worldwide route network 
and could lode forward to a struc- 
tured and innovative devdopmenL 

Gredito Italiano Picks 
Marengo foraTopPost 

LONDON — Credito Italiano 
SpA of Milan has appointed Pier 
Carlo Marengo a managing direc- 
tor, with responsibility for its inter- 
national business. He succeeds 
Mario Rivosecchi, who is retiring. 

In his new post, Mr. Marengo 
will work with Credito Italiano’s 
other managing director, Lucio 
Rondelli. Mr. Marengo will contin- 
ue as chairman of Credito Italiano 
International LuL, the bank's mer- 
chant-banking subsidiary in Lou- 
don. 

British Pttrofeimi Co. has named 
Peter Reeves as its chief executive 
in the Netherlands. Based in Am- 
sterdam, be s u cceeds Rj>. Strellell, 
who retires on June 30. Named to 
succeed Mr. Reeves as manager of 
BP Marine International in Lon- 
don was John Rounce. who was 
president of BP Noth America Pe- 
troleum Inc„ which has its offices 
in Houston. In addition, BP said 
that Michael Rendle will retire as a 
managing director at the end of the 
year after more than. 31 years with 
the company. He was appointed a 
manag ing director in July 1981 and 
is chairman of BP Nutrition and 
BP Coal. His other responsibilities 
include Europe, personnel organi- 
zational affairs and BP Detergents. 

Citibank appointed Aziz Raj- 
kotwala as country corporate offi- 


Page 17 


cer for Kenya, based in Nairobi. 
He succeeds Kadiu Tshibaka, who 
was transferred to Citibank's Bra- 
zilian operations. Succeeding Mr. 
Rajkotwala as country corporate 
officer in Zaire is David Smith, 
currently Citibank's corporate 
bankinggroup head, based m Kin- 
shasa. the appointments were ef- 
fective May 1. In addition. Citi- 
bank has opened a branch in 
Glasgow, headed by Keith Risk, a 
member of the well-known Scottish 
banking family. He joined Citibank 
in 1980 and prior to his new ap- 
pointment. specialized in providing 
international trade and treasury 
services to Scottish companies. 

Shell Fraapuse SA in Paris has 
appointed Peter Hadfield vice pres- 
ident responsible for finance and 
administration. He succeeds Cor- 
nelius Herksiroter, who. as previ- 
ously reported, is moving to Ham- 
burg to become president of 
Deutsche Shell AG. Mr. Hadfield 
previously was with Shell Interna- 
tional Petroleum Co. in London as 
area coordinator. Middle East re- 
gional organization. 

American Motors Carp, said 
Pierre Semerena. chief executive of 
the automobile division of Renault, 
the French vehicle maker that owns 
46 percent of its shares, was ap- 
pointed a director of AMC. He 
succeeds Bernard Hanon. who was 
chairman of Renault until he was 
abruptly replaced earlier this year. 

Industrial Bank of Kuwait said 
Yousef Al Sane, previously manag- 
er, banking and finance depart- 
ment, was appointed general man- 
ager of the bank. 

AB Astra, (he Swedish pharma- 
ceuticals group, said Sien Gustafs- 
son and Hans Stahle were re-elect- 
ed chairman and vice chairman, 
respectively. 




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Company Earnings 






Your own 
golf apartment 
in Mallorca. 
Play it or fet it... 
it can pay for itself. 



Mallorca has become a golfer's 
paradise and now you can become 
one of the first owners of 
Bendinat's Golf Apartments and 
admire the fairways from your 
own terrace or take a short stroll 
to the first tee. We are offering 
one, two or three bedroom 
apartments with folly fitted 
kitchens and gracious Mallorcan 
architecture with extravagant 
landscaping at prices that will 



\ ^ — « the yew. 

Please write or telephone: Sales Director, Bendinat, „ 

Pfesseig desBonu 15 - 7® C, - 07012 Palma dc Mallorca. Spain,Tel: 71/ 22 1651 

U.K. Sales Manager, The Bendinat Estate, - 53, Upper Brook Street, 

London W.I. England. Tel: 01 - 629 0883 


mEMm 

Lut your SUS DoBar bay mon In Canada 

170 Apartment Complex 

• Very well maintained complex 

• Price SWlOjm COM orS*412JXXX US 

• Excellent low, long term financing until 2007 

• True 12% return on investment 

Downtown Toronto 

First class commercial property in the heart of Toronto with 
good future lor appreciation. PriceS4.7SMCDN.or5B46MUS. 

For further Information and brochures please contact 

WINZEN REAL ESTATE UMTED W1NZEN CORPORATION: 
Attn. MartaUng MansQor A Loading DenlopuMiU 

07 Yooqo Street. Suite 700 Safe* Prnparty Umagomant 

Toronto, Omnto, Canada MBE 1J8 ana Matkattag 

Tti: B63-0071 - Trt» 06S24301 Organization’ 


CANNES CAUFORNIA 

Cote d'Azur 

Private owner sens directly: 

SPLENDID VILLA WITH CHARACTER 

Luxuriously fitted, gardens, swimming pool, large out- 
buildings, open view on sea and Lerins Islands. 
Excellent price due to departure. 

Please contact in Pam: 

Madame Artnick Regruer, 

130 Rue de Rivoli, 75001 PARIS. 
Telephone: (1) 508.46.39. 


— " IfcSJL - - 

SIM BELT 

brvast tmd make immediate profit 
from your property asset. 

Your town-house (villa) pent of a high quality complex, 
with leisure facilities (mrimnung pool, tennis courts). 

Oiristamfing return aid above w e rqn s capital gains. 
FuR oJminlstrativ and reatal ssrvkes at your disposal. 

JFer aueria ef detailed brochures, plane contacts 

JAWER SJ^ P.O.B. 420, CH-12I1 GENEVA 3 


ATLANTIC CITY, NJ. 

LUXURY 

OCEAN FRONT CONDO 

Enjoy the ultimate in luxury- from the 32nd floor of this 
outstanding 24 rediooni,. 2 -teroc» ocean front apartment 
Located at OCEAN CLUB, Atiantic Qy's prestigious new 
oddrtss on Ihe boardwalk, tKs degarrf tower abo offers 
such amenities as concierge, spa, indoor and outdoor 
pooh, maid service, restauranb and shopping. For sate 
by original owners at 5585,000. Bax 1184, Orange, 
New Jersey, 07050 U. 5 A. 


Montreux-Geneva Lake 
APARTHOra BONIVARD 

For sale luxurious apartments, 
from 1 to 5 rooms, overlooking the 
prettiest part of Geneva Lake. 
Prices: SJt. 123,000 ind. equip- 
ment and furniture. 

60% mortgage available at 
616% interest 

Plea se contact the BcAfer: 

rIgie de la riyira sjl 

32 wmw da Casino 
1 820 Atonrracx-Sw ilif fcral 
T«L: 021/635251 

Tslmc 25873 art ch 


14-16 Hans Crescent Knightsbridge 

NEWLY RECONSTRUCTED r . iktfflBRflLrr: 

BEHIND HANDSOME VICTORIAN I AnflAn VZ\Y/1 /v 
FACADES, THESE HOUSES NOW L-UI IUUI IdWI Ittrml' — 

PROVIDE SOME OF THE MOST * 

SPECTACULAR APARTMENTS ; , JjaMr PiS5S4|i 

INLONDCW: a 

Superb di 4 >kxof 5 be&. 4bxhs., shower room, ! ygWIjfljuijjjjr 

guest wjl, double reception (43ft. x 23 ft . 3bs. max). s Jfjld UpP 

large kitchen, terraces. (3174 sqJU295 ouqj I iOTQsr feT ijHB iSafll 

PRICE £775,000 ?||\k fflfOJS IS l| 

4 superb flats of 3 beds, 3 baths, guest *w„ double t IjaaMncF - . « 1 i ®l- fl TO tJjgS W IBHl-,. .,. . 

reception C30ft. x22fl_9ir*.). kitchen, b’fest room, lJHS|| 'ifllm Ti W^l^ SreiMr 

teirace. (Flats from 1958 sqAil82 nuq. to jSjBut! liRefis: 111 InBBrer^T” /flkufi 

2152 sq it/200 mjq.L PRICES FROM £490,000 ( BffM t p|fe fl| | j jUSTj fi M Hj SSKfHjt ■Sj J 

Garden QatWth 2 beds. 2 baths, guest wx., double H || M ID a]H FSH i fflUS 

reception room (28ft. x 291t max). Idtcben £ B-T,ri _ ‘J 

garden. (1485 5qiU138 mjqJ PRICE £195 JJ00)u5 lli ^y^--- - |gg W3j^gW^tjf(f|f] 

Superb kitchens: buxurious bathrooms (atchieEng one Jacuzzi} r I IJJll IIJIt'! 

bathroom in each apartment/: 5ft: uniformed porter, new 

decor ati ons and eapets. etc. aO to a splendid standard / iff ^ _ y 

LEASES 999 YEARS Fully furnished Show Flat by Blanchards open daily ILOOam. - 6.00pjn^^^ 

ww j r a w-^ 'w -w- mtajmM BELLINGHAM 

W AuELLIS ofe * ASSOCIATES 

T "•£ 9 rinUMI WAE aURIBD SORVCVCMtS Wee 91933 BSWLVa 


ss 

i 






WAJELUSjiiP 


COSTA BIANCA ■ SPAIN 
TESORO PARK 

S^ptrb aiatly cMaBlaAi how » jour 
DMdMynoAth, hrMkJa>iA 
m Jmo. 74 ptM nty. «bM *■ GoS 
Came, dbrnto* wnAr at ■» a* 
•ml waw. Man, Mudng plol. pool A 
taO»m«d uwrt w a. USSTWOO. 

BUT DKECT FSOM THE 

owaoPBB 

Cot for drioib from 
our own UK office. 

Prrstj& Homes I id 

7 Easton Buz ■ Loraington Spi 

0926 832220/832321 


Aftnesdecticmol 
rebate Vte and Pueblos 
always available Prices Jr , 
from U.S. $42,000. dg 

Hx. 312605 ^ 

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L Spcdngfldd,NaBSouri, .65808 USA I 


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Near Sydney: in an exclusive community on the 
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which to view the sparkling bay. Brochure IHT- 
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wiftiena bgtfvsota efld r tja \tcnm-ro am 
aid terra or bofcMW..«W*wg?y 
Boor. S»««imrfp-pooi. anra 
bacue end OcUoffti. Urmoaobh pn wx y w 
dm ncUe id ISaews at tad mft pnnort*#- 
ie vim on m of ll * 

.mm of frm Eosvoae»fro«Mor; 

mfen [2 h«B ora w toy 

^ FOR ONLY 5500,000.- 

For further i nlu r m oen. ymte to OfBee id 
Jbrnd, Gw*. _*#* *•** 


South of France 
Var 

Boveen Tourtour and Aups 
MagriRcenf estate, 

XVRlh c^iury courtryhouse, 

8 rooms phis outbuikfings, 

30 hedmes lOof wtefr cuWvoted, 
qiite excepljonal Hwironnienl, 

Price: 2.000.000,00 FF. 

TbL- (94) 70 14 71 or 
(93)44 50 ia 



OUR LAKELAND PARADISE 
AWAITS YOU 

Your own vacation land on the fabulous Lake ol the Ozatks in Central 
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Forbes Inc, publishers ol Forbes Magazine, through its subsidiary. 
Sangre de Cristo Ranches Inc., is offering the opportunity of a lifetime (or 
you to acquire one or mare acres of our choice Missouri lakeland. 

There’s no better time than nght now to End out H Forbes Lake of the 
Ozarksisthe place for you. All our homesttes. Including lake bonl and lake 
view, will be a minimum sice of one aero— ranging to over three acres 
Cash prices sort at $6,000. One or more acres of tfas IncredUy beautiful 
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easy credit terms available. 

For complete Information, including ptcrures, maps and full details 
on our tiberal money-back and exchange privileges, please write to; 
Forbes Europe Inc. Dept H, P.O. Box 86. London SW11 3UT England 
Otxsm if® Property Report reqiwecf dy Federal law ana reaa it Oetore 
signing anything No Federal agency has ivdgefl the merits o> raiue ri any. 
ot tins property. Equal Credit and Housing Opportunity 


°Rossmoie House 

SKi 



4 lif II 









P5W5!i! 






i aw 



Locke & 
England 



— INVEST IN THE U^.— 
AND BUOY A HAVEN TOO 

Dm boras isdgi wd tel ™ 

odiidu bourn (TOM dMp Uu 

out u m wodbas b> to 15 port, H pmwb* 

^nwiMirvaoQofteyai^lMig 


Tha price b H7 S£CDl 

T1» kfa b spwmfcd by ntr 12)0 «« ef 

PNCM m*. wur bu b«I o*w 


MfibrdooeeOiarianufa obt 
bUnpcMki dm bo bdsM «*- Ufa 
tofaghrabdtavnii'iMbfa 
nbkdrtOriifricwndsrKm 
akonMowbnMcbgwi. 

Contact owner, Mr. Sanmood, 
far Mbtr brochure. 414-277-5701. 
7&0 North Water Street, 

MawuukebWI 53202. BrckbsyrofaiJetl 


With oil the bod nswi about Anericnn fanrih 
er% farm loud press hare plunged. There m 
i i w tf iwert opportunities a newer befor e , at 
prices below trafaf value. 

• 407 Acre*: Yolo Courty, Ccfifonio 

* Ckon I tali Vfheot ond Tpmwses 

■ 4 undergrovnd weds far compbte irrigotion 

* 5.000+ square foot ttxagebuUngs 
•3TO0+ squire faot shop 

• laeoieif 12 mbs from Socromma, CaHonwi 

$3400 Per toe 

(Mato Apprasd 2/85 t*S3£0D Pw Ana} : 
Pnrfes a onpl farm monagemenl ovrricbie Id 
day on and manage the property. We hove 
been in the farm management business far 
10 yeon. Do Ml pent up ttb Opportunity. 

TOOBY FARMS 

2S00 E. FoolM Hud. Sate SOS 
taadena CsMomio 91107 

(818) 449-8321 










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INTERNATIONAL HERALD TRIBUNE, FRIDAY MAY 3, 1985 





BOOKS 


It! 


COAT OF MANY COLORS: Pag t* 
From Jewish life 


By Israel Shenker. 395 pp. S19.95. 
Doubleday, 245 Park Avenue, New York; 
N. Y. 10167. 


seyfaT rYeSkfrim ibc benedicncn, grandli- 
ther bought a religious book"), whose sources 
can be traced to Hebrew, Gorman and SLaTO*. 
ww<»d*iflgwl»y HAlairtimrmrr bodaerad 
to install seats is its jets, considering the ten- 
dency of its passengers to stand up. wait and 


daven. or pray, is w wj »nw> 

Yet however rmschtevoos Shenker’s sense of 


Reviewed by 

Christopher Lehmann-Haupt 

A MONG the dozens of octraoRfisazy peo- 
/xple w« meet in Israel Shooter's “Coal of 
Many Colors: Pages from Jewish Life," there is 
Professor Salo W. Barca, the historian who 
testified at the trial of Adolf Echmann as "the 
historic witness" on the German mass murder 
of Jews. Despite his having moved many peo- 
ple in the courtroom to tears, Baron, according 
to Shenker, opposes what he calls “the lachry- 
mose conception of Jewish history,” treating 
Judaism “as a sheer succession of miseries and 
persecutions." 

He has found an apt disciple in Shenker, for 
the conception of Judaica in this wdt-faait 
patchwork of essays is the very opposite of 


humor, and however gnomic his fascination +■ 
with the contradictions and paradoxes of Juoa- 
ism. his co nc ern, amounting ahnost to an ob- \k 
session, is always and ultimately to define whai Ar - 
it T n««g to be a Jew. He has no easy answers. 




1/ 


il* ' 


"All the virtues, all the vices, every pleasure. 

“ VIhey do 


united 


one chooses to can it, "Coat of 
Many Colors" is the result, as its author pots h 
in his preface, “of prolonged exposure to the 
contagion of Jewish pleasures," during winch 
period he wrote most of the essays included 
here for a variety of publications. “The vires 
incubated during the 20 years I was a corre- 
spondent roaming Europe for Time: it erupted 
with uncommon virulence during 10 years of 
penance for those loose-jointed years, when I 


every pain — nothing is spired them, 
not constitute a nationality, nor are the, 
by a common language or culture or it ws . 
or by residence is a given territory. Jews have 

been calted a peoplehood. as wefiasa spiritual 

na tion , but these are evasions, not descrip- 
Since Judaism admits coovens to Jewish 
faith, Jews are hardly a race. And though 
religion may once have united them about a 
s ingle belief, that unity has long since boon 
shattered by the fervor of c onflic t in g interpre- 
tations and outright raccoons." 

Yet if he lacks definite answers — u he 
recognizes that, in matters Judaic, “questions 
are epdtess . and for every solution there is.y 
problem" — he knows where to turn for inter- 



contributed to each day's bounty of typo- 

’ork for 


graphical errors as a reporter in New Yi 
The New York Times. 

One is tempted to add that now he is quaran- 
tined in Scotland, where be makes his way as a 
free-lancer. But among the many striking vi- 
gnettes in the volume is a sketch of the Glas- 
gow Jewish Lads’ Brigade (incorporating the 
Jewish Girls' Brigade), whose members wear 
kilts of McKenzie tartan (“There was a job lot 
going cheap," explains flu; group's leader) and 
who constitute probably the otuy Jewish pipe 
band in the world. 

Shenker has an unerring instinct far such 
oddities, whether he is visiting a New York 



i two years to devd- 
p“); or exploring a Yiddish sentence such as 
Slokhn bentshn hot der zeyde gekoyft a 


Solution to Previous Puzzle 


, hypotheses. What he does best here is 
’ listen and record. Among all the disco- 
1 speakers is these pages —Jack Levine 
r on art living Greenberg on 

ri Katz on the creation of the 

Museum of the Jewish Diaspora in Tel Aviv, 
Aharon Appdfeld on writing, S.J. Perelinan 
<u “the possibilities of the incongruous" — 
perhaps the mast controversial is Dr. Jonathqp 
Miller on the subject of Jews in the arts. 

Having warmed np^with a pungent defini- 
tion of the Jewish reEgim — “After the cre- 
ation myth, the relationship of the Jews to the 
Creator ceases to have a mystical foundation 
all and becomes strictfy an office job. In the - ~ 
end, it's a contract which is drawn up; aad one 
party sits on one ride and the other party sift 
on the other, and they haggle over the terms? 

— Milter takes off on a flight of theory that 
effectively contradicts the notion of gene$ 
superiority. 

“Jews really make their great coniributiodB 
to culture at the moment when* they stifl ' 
“retain enough of the inteflecmal energy whit* ' 
cane from highly compressed comnniwcnt tt> 
dogmatic exegesis, suddenly liberated Kkp a£ 
aerosol spray mto this hog wortdofEbertf<* ' 
he says. Only when “ii’s difiusod into the 1 
of liberty and is therefore no lot 

identified with Judaism* does the r __^_ 

with everyone else and see his distinctivene$ 



tion. “I just think it's the nobler thing to d& 
unless fir fret you happen to be a brifotw hr we 
orthodoxy, in which case there aresdf-evideM 
reasons to keep doing it But if" orthodoxy & 

thaThrthe future yo^^able^io'^' the 
prayers fen the dead when the Holocaust & 
finally inflicted again, then l think it’s a dam- 
nable device.” 

Whatever the validity of this provocative 
argument, one is happy to report that Shenker 
is still at the aerosol stage- rfis energy is still 
compressed. The result distinguishes mm both 
as a Jew and as an observer of Jews. 


art* 




Christopher Lehmann-Haupt is on the staff of 
wYoric 


n 




5/3,65 The New York Times. 


BRIDGE 


i 


tv 


By Alan Truscorc 


‘That WAS the &xjo news. I guess miooNt 
REALLY WANTA HEAR THE BAD NEWS, DO YA?* 


GARFIELD 


I THAT SCRAMBLB) WORD GAME 
by Henri Arnold and Bob Lae 


Unscramble these four Jumbles, 
one letter to each square, to form 
four oitfinary words. 


EVING 

I 


TOAFO 


_u_ 



NITTEK 




M 



O N the diagramed deal 
South seized an opportu- 
nity for fine play in a six-club 
contract. North, whose linril 
rase of three dubs, was on the 
optimistic side. 

At a different vulnerability 
West would no doubt have 
considered a six-heart save: 
Barring very clever defense, 
that would escape for down 
three. Bui it was far from dear 
that six dubs would succeed, 
and it would have been beaten 
if it had occurred to West to 
lead the club ace. But he rou- 
tinely led the heart king, and 
South had an interesting prob- 
lem after raffing. 

The obvious procedure was 


to draw crumps and then play 
for East to have a doubleton 
diamond king. This is a 20 per- 
cent chance of finding a single- 
ton king. 

But there was an extra 
chance based on postponing 
trump plays, and South ac- 
cordingly led to the spade 
queen, ruffed dummy’s re- 
maining heart and played his 
spade winners. He raffed the 
last spade with the dub leu 
and led the diamond queen for 
the finesse. He was still safe if 
the finesse succeeded and the 
suit split evenly, and as it was 
he could not be defeated. 

Whether or not East covered 
with the long, a trump' play at 
the next trick was due to end- 
play West He was forced to 


lead a heart, conceding a ruff 
and stuff, mid the last small 
diamond in the dummy disap- 
peared. 


NORTH CD) 

♦ Q 

093 
OQJ862 
AX 10052 

EAST 

*0754 


*.’V 


*QJ85 
«Kfl5-’ 
*73 • 


WEST 
*J»32 
OAK. 107142 

*A 

SOUTH - 
+AK10G 
G— 

OA743 

*QJB«4 

East ami Watt were vulnerable. 
The buffing: 


North 

Eat 

Sooth 

West 

Pm 

Rs« 

1* 

IT 

34> 

3W 

«* 

Pan, 

Pnu 

Pus 




WW tad the bexrt Wag. 


YASILE ! 





| WHAT THEY CALLBIP 
THAT STJNer 
PEWMATOLOSIST. 


Now arrange the dieted letters to 
toon the surprise answer, as sug- 
gested by (tie above cartoon. 


a mxmxn 


(Answers tomorrow) 

Yesterdays I CRAZE YEARN BRIDLE SEETHE 


Answer; What nostalgia summons up— 
"YESTE ■* — 


WEATHER 


EUROPE 


All 
Amsterdam 

Attteat 

Barcotona 

Belgrade 

Benin 

Brussels 


fr 


Budapest 

Copenhagen 

Casta Del Sol 

Dublin 

Edinburgh 

Florence 

Frank (art 


Helsinki 

1 stan bat 

Los Patinas 

Lisbon 

London 

Madrid 

Mllcn 


Manic* 

Nice 

Oslo 

Paris 

Praoue 

Bmeina 

Rome 

Stockholm 

Strasbourg 

Venice 

Vienna 

Warsaw 

Zurich 


HIGH LOW 
C P C F 

17 63 13 S5 

7 45 3 37 

29 60 12 54 

20 6B 10 SO 

22 73 10 50 

6 «3 3 37 st 

5 46 5 41 XT) 

20 64 4 39 d 

10 50 B 44 r 

7 45 0 33 a 

23 73 14 57 Fr 

12 54 4 39 fr 

13 55 OK d 

22 73 12 54 sS 

14 57 3 37 ih 

72 54 8 46 sh 

7 45 0 32 e 

IB 61 9 48 

20 68 13 55 

21 70 13 55 

13 55 4 42 

23 73 14 57 

21 70 7 4B 

9 48 3 37 

4 39 3 37 

IB 64 10 3§ fr 

6 43 3 37 r 

12 54 7 45 r 

10 50 3 17 Hi 

P 40 4 39 a 

22 72 12 54 fr 

7 45 I 34 a 

11 52 5 41 a 

17 63 8 44 d 

8 46 5 41 r 

10 SO 2 34 cl 

8 46 8 44 r 


MIDDLE EAST 


Ankara 


Damascus 
Jerusalem 
Tef Aviv 


IS 99 -1 30 
22 72 16 61 


— — — — no 


20 68 9 48 

20 60 74 57 


OCEANIA 


Auckland 

Sydney 


17 43 10 50 
31 TO 16 61 


sn-showers; ew-snaw; st-stormy, 


ASIA 

HIGH 

LOW 



C 

F 

C 

F 


Bangkok 

35 

95 

26 

79 

cl 

Belling 

27 

■1 

16 

11 

d 

Weeg Kowg 

U 

75 

21 

78 

a 

Miaiiio 

33 

91 

26 

79 

d 

New Dotal 

38 100 

28 

79 

fr 

Seoul 

21 

79 

16 

61 

cl 

Stamtawl 

26 

79 

18 

64 

fr 

Singapore 

33 

91 

77 

81 

d 

Taipei 

26 

79 

72 

72 

0 

Tokyo 

26 

79 

14 

41 

fr 

AFRICA 






*te ter* 

30 

86 

18 

64 

d 

Cairo 

27 

81 

15 

59 

d 

Cape Town 

20 

68 

13 

55 

Ir 

CaoaMomak 

71 

70 

15 

59 

a 

Harare 

70 

82 

9 

48 

fr 

Logos 

31 

■8 

24 

75 

st 

NterotH 

23 

73 

15 

59 

d 

Tents 

29 

84 

13 

55 

d 

LATIN AMERICA 



Bnenes Aires 

14 

57 

6 

43 

fr 

Lima 

23 

73 

15 

59 

d 

Mexico City 

70 

■2 

21 

70 

fr 

Mode Jaaetra 

24 

75 

— 

— 

d 

Soo Paulo 

— 

— 

— 

— 

no 

NORTH AMERICA 



Anchorage 

10 

50 

1 

34 

-PC 

Atlanta 

24 

75 

16 

61 

st 

Boston 

13 

S5 

11 

52 

d 

Chicago 

18 

64 

5 

41 

fr 

Denver 

25 

77 

5 

41 

tr 

DteraH 

18 

64 

5 

41 

PC 

Hanoi me 

29 

84 

21 

70 

It 

Houston 

28 

82 

16 

41 

Ir 

Los Angeles 

23 

n 

75 

55 

ci 

Miami 

29 

84 

20 

68 

PC 

Minneapolis 

22 

72 

1 

43 

tr 

Montreal 

16 

61 

6 

43 

fr 

Nassau 

28 

82 

21 

70 

fr 

New York 

15 


11 

32 

r 

San Francisco 

IS 

39 

10 

a 

d 

Mottle 

1* 

61 

9 

48 

r 

Toronto 

12 

54 

6 

43 

PC 

ttouMnetan 

29 

68 

10 

50 

r 

o-avera&i; aoporttv ctaudv; 

reralni 


FRIDAY'S FORECAST — CHANNEL: Slightly ChooOV. FRANKFURT: Over- 


cps L .IS™***, J. D _~ AJ 39^ L ON IH5 Clflidy^Tenw. _ 13 — 3 _«5 — 37}. 


MADRID: Thunderstorms. Temp. 25— IS (77—59). NEW YORK: Partly 
ctaudy, TempJS— 11 159-521. PARIS: Claudv. Temp. U— 6 CSS - 431. ROME: 
Eflt-.J. 0 .™?- 70— 12 (48 — 54). TEL AVIV: Cloudy. Temp. 22 — 13 <73— SSI. 


sEEr m -m. seoul :Fnir. Temp. 25— Hf77— 6l).9iHO*- 

J^^E-jTnundarMwim. Tema-K — 27 190 — 811. TOKYO; Fdr.Temn.2S— 14 



Wbrkl Stock Markets 


Via Age nee France-Presse May 2 

Closing priea in local currencies unless otherwise indicated 


ABN 

acf Hoimne 

neoon 

AKZO 

AHOW 

AMEV 

A-Dotn Rubber 
Amro Sank 
BV6 

Buehrmami T 


424 

3050 

103 

111JS0 

22030 

238.90 


Catena HhJa 
-NDu 


Etoavler- 
Fakker 
Gtal Brocades 
Helneken 
Haogovens 
KLM 
Noarden 
Nal Nedder 
NcCnard 
Oce Vender G 
Pakheed 

PWIIP* 

lYrlien,. 

KOQflCU 

RoOainco 
RaUnco 
Rorcnto 
Royal Dutch 
Unilever 
Voi Omnwrin 
VMF Stark 
VNU 


74LPD 
208 
91 
38 
118 
12150 
186J0 
15280 
61 JO 
97 JO 
SI JO 
67.30 


435 

203 

10X59 

11250 

22750 

23950 

T4M 

38J0 

117.70 

129 

18B9D 

15X40 

6190 

S84A 


6450 

S6JD 

7230 
139 
67 JO 
44.70 
307 JO 
349 JO 
29 JO 
169 


336 


67 JO 
207. 


16250 

213 


ANPXBS General Index : 21430 
Previous : 91U0 


Arbed 

Bekoerl 

CdckerlH 

Cabeea 

EBES 

GELIrma-BM 

GBL 

Oevawnl 

Hoboken 

Intercom 

Kredletbank 

PWr olln a 

S Genpnue 
Ina 


?S3Jon 

UCB 


Elec 


Ungra 

Vieille Montaone 


1750 1740 
5710 5710 
226 231 

3200 3246 
3065 3075 
3310 3375 
1920 1930 
HO 3800 
5410 5450 
2165 2175 
0200 8200 
6790 6800 
1845 1875 
7300 7150 

^ 33 

4985 5100 
17IIS 1700 
4000 6040 


Current Stock Index 
Previous : 221934 


: 321001 


Anion* Vers 
Altana 
BASF 
Bayer 

Boy Hypo Bank 
Bay VerHnsbank 
BBC 

SHF- Bank 

BMW 

Oommenbank 


Coot Gumml 
Daimler-Benz 

oeaussa 
DeuncM Sabcpch 

Deutsche 

Drwdner 
GHH 

H tpu a n er 



Close Free. 


Hoctirief 

Hoeehst 

Haesch 

Horten 

Hussei 

IWKA 

Kall-4- Sabr 

Karetadi 

Kaufhof 

Kloeckner H-D 

KkwcfcnerWferfce 

Kruno Stahl 

Unde 

Lufttiansa 

MAN 

Mannes mam 
Muendi Rueck 
NLxdOli 
PKI 

Porsche 

PrnissdB 


476 478 

209 JO 21X70 
I06JO 107.70 
169 170 

790 29150 
209 30 337 
347 249 

22170 226 

218.70 21450 
24730 25030 
7059 TTJffl 
109 111 

425 42S 

179 184 

1S6J0 NjA 
TS8L70 159 
1360 1360 
581 581.10 
610 620 
1190 1186 
270 270 

123.40 12250 

156 NJL 

32450 NJV 
439 NA 
360 NJL 
527 J0 ILA. 
.K50 NX 
- 17970 NA 

.VolkswCHWnwerk 20&50 NA 

[Wella 565 NA 


PW| 


RW4 
Rhelnmetall 
Scnerbw 

SEL 
Siemens 
Thyssen 
Veba 


CmnnwM-zbank index : 131X18 
Prey leal : 1226.18 




Bk East Asia 
Cheana Kona 
Ghjria Gas 
Chirm Ufltlt 
Green island 
Hang Seng Bonk 
Henderson 
HK Electric 
HK RpaltV A 
HK Hotels 
HK Land 
HK Shang Bank 
HK Telephone 
HK Wharf 
Hutch Whampoa 
Hvsan 
InTl city 
jaraine 
Jar dine Sec 
Kowloon Malar 
Miramar Hotel 
New work) 
Orient Overseas 
SHK Praps 
SMim 

Swl re Pacific a 
T al Cheung 
WohKwone 
Wheelock A 
Wing On Co 
winsor 
wnrtd Infl 


2470 

14.10 

.9.15 

14J0 

8 

4575 

2725 

7JO 

II 

35J0 

SJ0 

79^ 
05 
2X30 
no 
089 
71 JO 
1270 
I0J0 
33 

2175 


II 


2225 
24 
171 
I JO 
775 
275 
470 
iia.- 


24 JO 
I6J0 
9 

1460 
7 JO 
4425 
210 
770 
10JO 

siS 

7 '1} 

QCT 

0.90 

UJO 

1X10 

10J0 

31 

495 

220 

11.10 

•d 


175 

1JO 

7. 


3J35 


Hang sang Index : ismji 
PTO y km* ; 1516J3 


I Jqfa 


AECI 

Angfa Amor lam 
Anglo Am Gold 
Bor laws 
Btyvoor 
BufteH 
Do Boon 
□rlefonleln 
Elands 
GFSA 



Harmony 

HlyeMSnel 

Kloof 

Nadbank 

PrasSleyn 

Rusnlai 

SA Brews 

St Helena 

5a*al 

West Holding 


2830 2900 
393 390 

7*50 7700 
1185 1195 
5650 5675 
IMS 1700 
740 740 

3*00 3575 
612 610 
6150 6400 


Composite stock ledex : 107400 
PravHws : 100X28 


AA Core 
Alllea-Lvans 
Anglo Am Gold 
Ass Brtt Foods 
Ass Dairies 
Bar days 


*12% S13W 
1B2 ISO 

587 sms 
236 214 


BAT. 

Beecham 

BICC 

BL 

Blue circle 
BOCGraue 
Booh 

Bawater Indus 

BrH Home St 
Brit Teleoanr 
Brit Aerospace 

BrHcrti 
BTR 
Burmah 
code wtrefess 

Cadbury Schw 
Charter Cans 
Commercial g 
Cons Gold 
Gouitauids 
Dalgetv 
De Beers* 
Distillers 
Drtotonteln 
Pisans 


15* 

£ 

370 


37 

511 

275 

178 

266 

570 


W 

391 

31* 

714 
235 
550 
165 

m 
218 
534 
MS 
475 
523 
290 

S25H S25H 
303 301 


Freest Ged S2695 S2SU> 

GEC 198 194 

Gen Accident 568 565 

GKN 238 236 

GtaXO t 11 25/3311 59/64 


Grand Met 
GRE 
Guinness 
GUS 


Hanson 

Hawker 


ICI 

Imperial Group 
Jaguar 

Land Securities 
Lead General 
Lloyds Bank 
Ltmmo 
Lucas 

Marks and S» 
Metal Box 
Midland Bank 
Nat west Bank 
P ond O 
Pllklngson 


291 

693 

2 s3 

840 

zie 

447 

747 

184 


291 

691 

247 

| S 
222 
435 
73 7 
186 




.-tal 

Roan Elect 
RaiBSEtmteiw 

Reap i nil 

Routers 
Rovai Dutch c 
RTZ 

Soafenf 
Solnsburv 
Sears Holdings 
Snell 


300 

go 

579 

S 

257 

137 

398 

3U 

637 

355 

263 

1«0 

675 

198 

S106V2 XII 

348 


474k 

*22 

6» 

344 

B7V» 

790 


552 

3K 

615 


728 



Ctese 

Pro*. 

STC 

206 

206 


472 

4*9 

Sun All lamer 

448 

448 


448 

446 


24* 

24* 


459 

456 


240 

230 


34* 

346 

THF 

14* 

*41 


226 

225 


1145/64 

uto 


185 

Vickers 

271 

367 

Wootwgrlti 

816 

820 

F.T. 38 index: 

989 JO 


Previous : V7U0 



IHUan 


Bonce Comm 
Contra le 
Oaatmels 
Cradlfal 
Er Mania 
Form I tana 
Flat 

FTrakter 

Generali 

1FI 

Italcente n t i 

I la [gas 

ifalmabldarl 

Mediobanca 

iMontatlsan 

Olivetti 

Pirelli 

RAS 

Rtnasoante 

SIP 

SME 

Snia 

Standa 

Stet 


17180 16910 
2979 3125 
739* NA 
2090 2110 
9400 9490 
12298 12280 
294Q 2996 
NA 62 
43803 A4KSS 
7580 7640 
86430 NA 
1605 M00 
JW50 71000 
S429Q 843 0 0 
1610 1628 
6200 6270 
2250 NA 
44500 NA 
664 NA 
1950 NA 
1260 NA 
2799 NA 
13988 NA 
2580 NA 


M1B Current Index : 1223 
Previous ; m2 


Paris 


Air Ltauide 
AW hem Atl. 
Av Dounulf 
Banco! re 
BIC 

Bong rain 

! SZSS* 

Carrot our 

Charaeurs 

Club Med 

Dam 

jsutnn 

EK-Aaullalne 

Europe I 

Gen Eoux 

Hachette 

La tame Cop 

Lagrand 

Lesleur 

rorea] 

Marten 

Moira 

Merlin 
Mlchelln 
MoetHemessv 
Moulinex 
Ocddcn w ta 
Pernod Rlc 
Porngr 
PetfPles I 



(teal 

P euaeot 
pr Interims 
Rodknecnn 
Redoute 
Rousui Udof 
sanon 

Skis Rasslgnoi 

T etomecun 

ThamsonCSF 


103 
687 m 
703 705 

511 506 

264J0 26560 
3<J 346 

730.50 132 

285 28X50 
1374 1370 

1755 1765 

712 724 

1797 1810 

2525 2545 

M0 544 


Aoefl index : 287 Ji 
previous : aaMs 
CAC index :2U48 
Previous :7i5JS 


Ss fla pnnf 


DBS 

Fraser Neave 
Haw Pur 
lnchcang 
Mar Bant Ina 
OCBC 
OUB 

Ovorseos Unton 
SnangrMa 
Sima Darby 
S-por* Land 
SHare Press 
S Steamship 
St Trading 
United Overseas 
UOB 



Straits Times Ind index : 79533 
Previous : NA 


S toc kh o lm 


AGA 

Alfa Laval 

Asm 

Astra 

Allas Copco 

BoHaon 

Electrolux 

Ericsson 

Esaetto 

Handefsbanken 

H Mfimh 

Soob-Scanlo 

5ondvik 

Skansha 

SKF 

Swadistewafeh 

Volvo 


<20 420 

197 197 

348 357 

427 42D 

114 416 

215 NA 
315 315 

389 283 

35S NA 
162 162 
191 192 

465 NA 
NA 400 
92 9X5 

219 221 

213 213 

245 252 


AftoerrroerWen index : 39820 




AC! 

AN I 
ANZ 
BMP 
Bored 

Bougainville 

Brambles 

Cotes 

Comalco 

CRA 

C5R 

Dunlap 

Elders Ixl 

Hooker 

Magellan 

MIM 

Mver 

Oakhrtooe 

Peko 

Poseidon 

RGC 

Samos 

Sutton 

Southland 

WhadsWe 

war mold 


313 

368 

462 

632 


212 

374 

378 

232 

630 

386 

212 

305 

158 

270 


315 

378 

378 

233 


178 

96 

405 

395 

530 

600 

175 

25 

159 

357 


All Ordlnartes index :B6XM 
Previous : 874.10 
Seurat; Revterx 


™52» 


Altai 

Asohl Cham 

AsohJ Glass 

Bank of Tokyo 

Bridgestone 

Canon 

Casio 

C-itafi 

Dai Nippon Prim 
Dolwn House 
Dalwa SecurMes 
Fanuc 
Full Bar* 


865 

090 

805 

S27 

1280 

1490 


003 

531 

1300 

1720 


1020 

580 

809 

9240 

rsu 


1010 

576 

801 

9210 

1-70 


Full Photo 
Fullisu 
Hitachi 
Hitachi Cable 

Honda 

Japan Air Lines 
Kallma 
Kceuai Power 

Kawasaki Steel 

Kirin Brewery 
Komatsu 
Kubota 
Kyocera 
Matsu Elec inds 
Matsu Elec Works 
Mitsubishi Bank 
Mitsubishi Own 
Mitsubishi Elec 
Mitsubishi Heavy 
Mitsubishi carp 
Mitsui ond Co 
MRsukatM 
Mitsumi 
NEC 

NGK Insulators 
Nil lea Sec 
Nippon Kaoaku 
Nippon Oil 
N ippo n Steel 
Nippon Yusen 
Nteacrn 
Nomura Sec 
Olympus 
Pioneer 
Ricoh 
5h«P 
Shlmazu 

SMnetsu Chemical 
Sony 

Sumitomo Bonk 
Sumitomo Cham 
Sumitomo Marine 
Sumitomo Metal 
Tafsef CDrp 
Toteha Marine 
Tgkedo Chem 
TDK 
Tallin 

Tokyo Elec. Power 
Tokyo Marine 
Toppm Printing 
Turay Ind 
Toshlbo 
Tavata 

Yamakchl sec 




368. 3 
130013 
722 7 


Ntkkel/DLL Index : 0451.77 
Previous : 12456X5 
Mew Mdax : 97254 
Previous : 96X73 


Adta 
Bank U 
Brown I 


. Bgverl 

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INTERNATIONAL HERALD TRIBUNE- SATURDAY-SUNDAY MAY 4-5, 1985 


Page 19 


SPORTS 


Chiefs Crown, Once Vulnerable, Putts Away from the Pack to Become Derby Favorite 


No.) J 

A 


By Steven Gist 

New York Tuna Seme* 

LOUISYILl.E, Kentucky - Last 
week. Chiefs Crown looked like one of 
at least half a dozen colts with about 
u eqnal fiances of winning ihe lllthKen- 
lucky Derby Saturday, and most of the 
racing world considered him a vulnera- 
ble favorite. 

Now he is the strongest Derby favorite 
m six years and a legitimate aspirant for 
a sweep of the Triple Crown. 

It took the small, bay-colored colt one 
nunute 47 3/5 seconds to change the 
Derby picture — his running timg in the 
Blue Grass Stakes on April 25. He bad 
been expected to win the race easily, but 
not to run in sizzling time or to get 
stronger with every furlong, running his 
last splits faster than bis early ones. 

_ Suddenly, instead of bong a profes- 
v sional little colt who had racked up vic- 
r^ijries without r unning much faster or 
' ‘ more impressively than his Derby rivals, 
he was something really special. It was as 


if he had finally justified his record and 
reputation, and exceeded iL 

A headline in The Louisville Tunes the 
day after read: “Now, disbelievers, kind- 
ly get off The Chiefs back. 

While the revisionist view of Chiefs 
Crown is probably closer to the truth 
than the cloud of doubt under which he 
had raced until the Blue Grass, the Der- 
by is still no walkover. What bad looked 
like the worst crop of 3-year-olds in a 
decade is beginning to blossom, and 
Chiefs Crown still has a few things to 
prove. He is bettable at odds of 9 to 5, 
but not unbeatable. 

About the only people who were nei- 
ther surprised nor impressed fay Chiefs 
Crown's Blue Grass were those closest to 
him, the trainer Roger Laurin and the 
jockey Donald Mac Beth. 

“With his breeding and the way he 
acted in the mornings, I knew he was a 
good colt," Laurin said. “But I had no 
way of knowing he could be a champion 
until he'd been to the races a few times. 
The fust time he ran as a 2-year-okl, 


there was a fast horse in the race who 
won by nine and another horse threw his 
rider, got loose and bothered this edi 
The tune after that, he took awhile to get 
settled on the track and then he closed 
big to get second.” 

Since that defeat. Chiefs Crown has 
won 9 of 10 starts. He went to tbe front 
to win a maiden race at Belmont by five 
lengths July 5. then won tbe two premier 
2-year-old stakes at tbe Saratoga meet- 
ing. the Saratoga Special and the Hope- 
fuL In both of those starts he came from 
slightly off the pace; turned in a strong 
l3te run and won going along. 

He then went into the fall season, in 
which champio nships are won. and lost, 
as the premier 2-year-old in the East. IBs 
next start proved to be bis only defeat in 
the past 10 months, but it was also the 
race that convinced laurin just how 
good the colt might be. It was the Futuri- 
ty at Belmont, and the track was sloppy. 
Chiefs Crown broke sharply but then 
began dropping back steadily. MacBeth 
could teQ that the colt hated the track. 


and swung Mm to the far outside to 
avoid (be slop being kicked back in tbe 
face. 

“Thai he began running, picking off 
those horses one by one ukc be didn't 
want to lose." MacBeth said. “It really 
showed a character.” 

The coll fell a length short of catching 
Spectacular Love, but he had been more 
impressive than ever before, and be has 
not lost since. He came back to drown a 
weak Cowdin field by six lengths. 

Chiefs Crown struggled a bit to win 
tbe Norfolk at Santa Anita, but was dead 
sharp for tbe Breeder's Cup race, bulling 
his way through a large Geld to score 
over Tank's Prospect and Spend A Buck, 
two Derby rivals. 

He was almost a unanimous selection 
as the champion 2 -year-old, but there 
were doubts about how he would fare at 
3. He had never run an impressive time 
and his one race around two turns, tbe 
Norfolk, bad been his weakest 

There was also the virus in January. A 
Hlv in La min’s barn wbo caught tbe 


same bug died, but Chiefs Crown recov- 
ered after missing three weeks of train- 
ing. 

Laurin now thfnlrc it may have been a 
blessing. Chiefs Crown got a late start, 
delaying his debut until the Swale Stakes 
Marcbi but he is coming into the Derby 
fresher than many of his rivals. Laurin 
thinks the ooit is peaking at just the right 
time. 

His races this year support that the- 
ory. In tbe Swale, he dm not have to 
work bard to beat a moderate Field going 
seven furlongs. He ran back four weeks 
iar»»r in the Flamingo. He was disquali- 
fied and placed second for possible in- 
terference in a call so controversial that 
the decision was reversed 10 days later. 

Then earne the life-mile Blue Grass, in 
which the colt again went to the front, 
and instead of drifting and tiring he got 
stronger, as if he were fitter and improv- 
ing. The time of 1:47 3/5 was only one- 
fifth off tbe trade record. 

“It was about what we expected,” 
Laurin said. “It wasn't a big jump up or 


much different from his other ra c es. Hrfs 
won five in a row. He just keeps on 
winning.” 

The one thing he has missed this year 
is real competition or any adversity of 
any kind. Although all his victories last 
year were earned from off the pace, this 
year he has found on the lead 

without a straw in Ms path every time. 

“That's just coincidence,'' Innrin 
said. “We never wanted the lead. When 
(hey Stop running such slow fractions, 
we’ll stop being on tbe lead- 1 can't see 
Mm being in front all the way Saturday.” 

That is indeed unlikely with one-di- 
mensional front-runners such as Eianal 
Prince and Spend A Buck in the race. 
Chiefs Crown figures to be slightly off 
their pace »nd then to make his move on 
tbe far turn, slightly before the cavalry of 
stretch runners, led by Proud Truth, 
Rhoman Rule and Tank’s Prospect, be- 
gins to charge. If the colt finds hnnseff in 
dose quarters, w31 he be able to pod 
away? 


“Sire,” Laurin says. “He does what- 
ever be has to do to win.” 

John Vtitch, who trains Proud Truth, 
the likely second choice, said. “Horses 
run full tilt 99 percent of the time. People 
talk about how horses could win by more 
if they were pressed, or how they do just 
barely enough to win. I don’t buy the 
idea of horses figuring out the minimum 
they have to do to wm and then doing 
only that.” 

Veitcfa gels an argument on that score 
from Eddie Sweat, Chiefs Crown’s 
groom. Sweat knows a tittle about what 
u takes to win a Derby, having been die 
groom for Riva Ridge and Secretariat, 
who won the Derby in 1972 and 1973 
while working for die trainer Ludcn 
Laurin, Roger's father. 

“This colt is no Secretariat.” Sweat 
says, “but he’s a lot like Riva Ridge. He 
acts just Tj k p htm l eats hrm i sa me 
personality. He’s a smart, quiet horse, all 
business when he goes to uie races. He's 


gpt what it takes to win races and he can 
win tbe Derby.” 


Nordiques, in Overtime, 
Win Rattle of Quebec 


United Press International 

MONTREAL — The Battle or 
t Quebec may have turned on one 
" i^oint — the Montreal fanariir»n< 
can’t beat the Quebec Nordiques in 
overtime. 

When P«er Stas toy scored at 
2:22 of overtime Thursday night, 
Quebec defeated Montreal 3-2, to 
advance to the Stanley Cup semifi- 
nals. In taking the Adams Division 

STANLEY CUP PLAYOFFS 

championship series. 4-3, the Nor- 
i diques won three times in overtime. 

■ Quebec next meets the Philadd- 
! pbia Fivers in the best-of-seven 
Wales Conference finals. The Nor- 
diques will have the home-ice ad- 
vantage with Game 1 Sunday night 
. j/it the CoHsee. 

y _ The Nordiques have already won 
“provincial bragging rights for a 
a Vear. 

r “It won’t be tbe same feeling,” 
Quebec goalie Mario Gosselin said 
of the coming series against Phila- 
delphia. “About 90 percent of the 
people living in Quebec won’t fed 
as intense about it” 

“Both sides had chances,” Mon- 
t treal Coach Jacques Lemaire said. 

“We just didn't lake advantage of 
| ours. 

■ In five overtime playoff games 

I over three years, Montreal has yet 

L to defeat (Quebec. 

“Sometimes it seems as though 

C there’s no justice.” Stastny said. 
** Seven games and one mistake, 
and one team must lose. It’s too 
bad they both can’t win. but I'm 
AirSd r glad we came up winners.” 

*9“ Quebec rookie Bruce Bell 
opened the scoring at 3:27 of the 
Just period and Jean-Franco is 
Sauve gave Quebec a 2-0 lead at 
1:24 of the second period on a 50- 
foot slapshot. 


The Worst Way to Lose’: 
A’s Defeat Brewers, 5-4 


The Associated Press 

OAKLAND, California — It 
was a tough loss, and therefore an 
easy one for Milwaukee Brewers 
Manager George Bamberger to sec- 
ond-guess. 

“There couldn’t be a worse way 
■> jo lose,” he said after the Oakland 
A’s put together four two-out hits 

BASEBALL ROUNDUP 

in the bottom of (he ninth inning 
off Rollie Fingers and Ray Searage 
fora dramatic 5-4 victory Thursday 
that strapped a seven-game losing 
streak. 

Bamberger conceded that he 
might have marie a mistake when 
he lifted Fingers, the major leagues’ 
all-time save leader, after he had 
given up a two-out single to Bruce 
Boehte. 

Left-hander Ray Searage came 
in to face left-handed hitter Mike 
Davis, but the strategy backfired 
/gien Davis singled. Donnie. Hill 
followed with the game-tying single 
and Alfredo Griffin knocked in the 
winning run. 

“In the middle of the year, 1 
might not have taken Rome out,” 


Bamberger said. “Right now, 1 wish 
I'd have left him in. 

Red Sox 2, Mariners 1 
In Seattle, A1 Nipper and two 
relievos combined on a five-hitter 
and Rich Gedman cracked a home 
run to lead Boston over Seattle. 
Nipper held the Mariners scoreless 
until they punched across a run on 
Phil Bradley’s sacrifice fly in tbe 
eighth. Bob Ojeda and Bob Stanley 
finished up, with Stanley recording 
his fourth save. Gedman. the Bos- 
ton catcher, lined a homer off Seat- 
tle starter Mike Moore in the sec- 
ond. The Red Sox scored the 
winning run in the fourth on an 
RBI single by Jackie Gutierrez. 

Angels 3, Blue Jays 2 
In Anaheim, California. Juan 
Beniquez’s pinch single with two 
outs in the bottom of the ninth 
boosted California over Toronto. 
With the Blue Jays leading 2-1. 
Ruppert Jones led off with a single 
and took second on a sacrifice by 
Doug DeCmces. Reggie Jackson 
walked, and Rob Wiifong singled 
to score Jones with the tying run. 
Beniquez then singled home Jack- 
son for the game winner. 


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SPORTS BRIEFS 

Kite Takes Lead in PGA Tournament 

CARLSBAD, California (AP) — Tom Kite matched the course and 
tournament record with an S-undcr-par 64 and established a 4-stroke lead 
Thursday in the first round of tbe Tournament of Champions. 

Fuzzy Zoeller birdied the last two holes for a 68 and was second alone 
in the tournament, which brines together only the winners of PGA Tour 
events of the last 12 months. Greg Norman. Wayne Leri. Mark 
\ TcCumber and Lanny Wadkins were next at 69. 

Tulane Pulls Out of Sports Conference 

NEW ORLEANS f AP) — Tulane University withdrew from the Metro 
Conference on Thursday, bowing to the wishes of a league that did not 
want a member without a basketball program. 

Tulane's president, Eamon Kelly, canceled Tulane’s basketball pro- 
gram after allegations of point shaving and NCAA violations. At the 
same time, he said he would ask (he Metro to waive its rule requiring 
members to play men's basketball. The Metro Conference voted. 7-0, last 
week to ask Tulane to drop out rather than fighL expulsion. 

WBA Lightweight Bout Canceled 

.WEST PATERSON, New Jersey fUPI) — Livingstone Bramble's 
jrld Boxing Association lightweight title defense against Tyrone Craw- 
ley has been canceled because of a training injury to Bramble, promoter 
Dan Duva has announced. The bout, scheduled for May 26. has not been 
rescheduled. 

Bramble suffered a stress fracture of his left hand while sparring on 
Monday. Duva said, and has been advised to take al least six weeks or 
complete rest. 


Montreal scored at 7:23 of the 
second period when Pierre Mon- 
dou deflected Mats Nashind's wrist 
shot between Gosselin’s legs. Mon- 
treal struck again 10 minutes later 
when Naslund gpt the rebound off 
a blue-line wrist shot by Montreal's 
Larry Robinson. 

In overtime, after Montreal goal- 
ie Steve P&nney stopped Pat Price’s 
slapshot from the point and stunt- 
ed Stastny on the initial rebound, 
Stastny lifted the second rebound 
over the sprawled goalie. 

Gosselin was injured after tbe 
6:00 mark of the second period 
when a slapshot by Mario Tremb- 
lay hit him on the chest Gosselin 
stayed in tbe game after laying on 
tbe ice 10 minutes. 

“We’re tired.” Stastny said. “It’s 
hard to get into the conference fin- 
als from our division. It’s question- 
able whether we have anything left 
for Philadelphia.” 

In the Campbell Conference fin- 
als. the defending champion Ed- 
monton Oilers have home-ice ad- 
vantage starting Saturday against 
tbe Chicago Black Hawks. The Oil- 
era have been idle since April 25, 
when they completed a four-game 
sweep of Winnipeg in the Smythe 
Division finals. Chicago clinched 
the Norris Division Tuesday 
against Minnesota, taking the se- 
ries, 4-2. 

The Oilers, rested and with great 
depth, are favored. But the Black 
Hawks have been stunning at times 
in the playoffs. - - 

Edmonton has (he more explo- 
sive offense. The teams, however, 
are well-matched on defense with 
Oiler Paul Coffey and Black Hawk 
Doug Wilson among the league’s 
best Chicago goalie Murray Ban- 
nerman has been streaky, while Ed- 
monton’s Grant Fuhr has been un- 
beatable. 




> i$.-V 


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n 

Sgv-L ' • 

' -- 



The Canadians' Bob Gainey, right, and Nordiques' Paul Gillis up against the boards. 

Czechoslovakia Wins Gold in Hockey 


Canyiled by Oar Surf/ From Dispatches 

PRAGUE — Leftwinger Jiri 
Sqba turned from a relatively un- 
known player into a national hero 
Friday as he banged in a hat trick 
to give Czechoslovakia a 5-3 vic- 
tory over Canada, its first world ice 
hodtey title since 1977. 

In the game for the bronze med- 
al. the Soviet Union defeated the 
United States. 10-3, in a match 
ending that included one of the 
worst brawls ever at the interna- 
tional level all 44 players from 
both sides ending up on tbe ice. 

Sejba’s most stunning goal and 
the one that turned the game (o 
Czechoslovakia’s favor came at 
13:00 of the second period with the 
game tied 2-2 and the Canadians 
holding a one-man advantage. 
Sejba stole the puck from defense- 
man Larry Murphy, was chased 
down the rink by Scott Stevens, 
pivoted around him to break free. 


then skated in on goal lender Pat 
Riggin and deked him as wdL 

The Czechoslovakians, support- 
ed by a wild, flag-waving crowd of 
14.000, won all three medal-round 
games in the eight- learn tourna- 
ment. The key game was an emo- 
tional 2-1 victory over the defend- 
ing champion Soviet Union in the 
medal-round opener. Then, they 
trounced the United States. 1 1-2. 

Canada bas not won a world 
championship since 1961. 

In the U.S.-Soviel game, play 
was interrupted for several minute 
in the third period as players lashed 
out at anyone on the opposing 
team. Teammates ran on from the 
benches in support. 

The Soviet Union had earlier 
demonstrated its clear supremacy, 
leading 9-0 before the United 
States managed to score. 

“If anyone would have told me 
before the tournament that we 


would play the Russians for the 
bronze medal I would have consid- 
ered him crazy." said Art Berglund, 
general manager of the U.S. team. 
“Even fourth, we accomplished 
more here than we expected. We 
beat both gold medal contenders in 
the preliminaries. This was our best 
showing in a world championship 
for two decades.” 

On Thursday, Finland downed 
Sweden. 6-1. and West Germany 
defeated East Germany. 4-1, in the 
final games of the relegation play- 
offs. 

Sweden played a listless game to 
finish behind Finland for the first 
time in the history of the world 
championship. The Finns secured 
top spot in the relegation round, or 
fifth overall while Sweden finished 
sixth, its worst showing since 1937. 

West Germany finished seventh, 
and East Germany last {UP I. AP) 


SCOREBOARD 


Baseball 


Major League Leaders 


NATIONAL LEAGUE 



G 

AB 

R 

H 

Pet. 

Murohv All 

20 

74 

21 

30 

J9S 

Walling Hta 

19 

40 

11 

23 

383 

Herr SIL 

20 

74 

IJ 

28 

378 

V Hares Phi 

20 

75 

11 

27 

-340 

Orsulok Pit 

14 

45 

5 

14 

•354 

Walktcft Mon 

21 

78 

9 

27 

344 

Crux Hta 

21 

84 

11 

29 

437 

Dawson Man 

19 

75 

13 

25 

333 

Corcoran Phi 

19 

47 

4 

15 

319 

Hemondex NY 

19 

72 

8 

23 

319 


Ran: Murahy. Atlanta, 21; Kommlnsfc. At- 


Basketball 


NBA Playoffs 


THURSDAY'S RESULTS 
Ballon M 28 34 21—117 

Damn IS 24 34 27—125 

Laimbeer 10-18 7-9 27. Thomas 9-18 7-10 28; 
D-Johnsan 11-19 5-4 27, Bird 9-20 7-7 25. Ra- 
bounds: Bos ion 58 (Bird 13); Detroit 54 
(Lcrimbeer 12). As»Wv. Boston X (Bird 81: 
Detroit 26 (Thomas id). 

Utah 34 32 22 21 4—123 

Denver 32 38 34 2$ 12—131 

English 11-23 4-5 24. Nort 9.16 6-8 24; Green 
IMS *4 2S. Oanfiev 8-17 4-8 70. Wilkins 9-24 2-3 
2a Rebo u nds: Utah 57 (Donllev 14); Denver 
64 (Lever 131. Assists: Utah 2 9 (Green 10); 
Denver 2B (Eng Inn 13). 

CONFERENCE SEMIFINALS 
EASTERN 

(Boston leads series 2-11 
toerr S: Boston at Detroit 
Mav 8: Detroit at Boston 
4 -Mot 10: Boston at Detroit 
v-Moy 12: Detroit at Boston 

(PBIFoOetpntcj tracts series Ml 
Mav 3: MHwautoe ol Pnli-gdatphia 
Mav s: Milwaukee at Pnlioeeipnlo 
x-Mov 8: Philadelphia at Milwaukee 
■-May 10: Milwaukee ot Philadelphia 
•-Mav 12: pnhadetoma ot Milwaukee 

WESTERN 

ILA Lakers Moos series 2-41 
May 3; LA. Lakers ot Portland 
Mav 5: LA Lakers al Portion) 

■-Mav 7: Portland at t_A_ Lakers 
r-Mav 9: LA Lakers ot Portland 
»-Mov II: Portland at i_A. Lakers 

(Denver Mads series 24) 

MOV 4; Denver at U:an 
Mav S: Denver at Uran 
r-Mcrv t- yign al Denver 
■-Mov ?: penvgr at Utah 

■ -Mav II: Uton at Denver 


lolls. 17; Samuel. Ph Itadclphla. 1 3 ; Scndbera. 
Chicago. 14; 8 ore tied with 11 
RBI: Mwrphv. Atlanta, 32; C Davis. San 
Francisco. 14: Broofci Montreal. 15; G. WH- 
son. Philadelphia. 15: Herr. St. Louis. IS. 

Hits: Murphy. Atlanta. JO; Cruz. Houston, 
29; Herr, SI. Louis. 28; V. Havas. Philadelphia. 
27: waliocn. MantredL 27. 

Doubles: Wol Inch. Montreal 8; Murohv. ai- 
lonto. 7; 7 are tied with L 
Triple*: 12 ore tied with 1 
Homo Runs; M-urohv. Atlanta 10; Straw- 
berry. New York, 4; Dawson, Montreal, 5: E. 
Davis. Cincinnati. 4; Kennedy, San Diego, 4; 
MorsnaiL Los Angeles, A 
Stolen Bases: Coleman. SI. Louis. 12: Lo. 
Smith. Si. Louis. II: Dernier. Chicago. 8; Sam- 
uel. Philadelphia. 8; E. Davis. Cincinnati. 4; 
M Wilson, New York, 4: Raines. Montreal. A. 

PITCHING 

winning Per ce nta ge (2 decisions); 11 ere 
tied with 1300. 

Strflceouts: J. DeLeon. Pittsburgh. 42; Sola 
Cincinnati. 34; Valenzuela Los Angeles, 35; 
Gooden. New York. 34; Eckerslev, Chicago. 
31 

Saves: Gossoge. San Bleep, 4; Reardon. 
Montreal. 6; LeSmiltvOilCBoaS; Candelaria. 
Pittsburgh. 4: Sutter. Atlanta, a 

AMERICAN LEAGUE 

G AB R H Pet. 
Franco Cle 20 73 14 28 J84 

Cowans See 11 II It 21 

Boctne Oak 21 40 t :i JSD 

Bemzrd CJe 18 S3 9 IS 440 

Baines Chi 11 77 11 U 38 

Whttoker D*» 17 AS 14 22 .333 

Grteti Cal 2) 41 IS 22 J2fi 

RJones Cal 18 « 9 13 425 

Puckett Mbi 21 96 II 31 J23 

Toiler CJe 21 SI B 24 J21 

Rons: MJ30VIS. Oakland. 23: Carew. Cali- 
fornia- 20. Murohv. Oakland. 18; Prtlls. Cali- 
fornia. 17; Cowms. Seattle. 14. Rice. Boston. 
16 

RBI: M.Ddvfs. Oak knuL 23: Armcs. Bmlcn. 
18: P.Brodlev. Seattle. 18: Brunanskv. Minne- 
sota. 17. Dempsey, Baltimore, 17; Puckett. 
Minnesota. 17. 

Hits: Puckett, Minnesota, jl: Carmens. 5eot- 
tie. 79: Franco. Cleveland. 28; Halclter. Min- 
nesota. 20 : boots. Beslan. 27. Wilson. Kansas 
City. 27 

Doubles: Gaetli. Minnesota. 8. Leman. Dc- 
rrad.a.- MotTlngty. New York, 7 • Orta. Kansas 
Cltv. 7; 7 ore lied with 6 
Triples: Wilson. Kansas CHr.S. Petrs. Cali- 
fornio. 3; Trammell. Delrali.J.Sare tied with 
2 

Home Nans: MOavls. Oakland. 9; Prate t. 
Seattle. 7: Armas. Boston, i: Srunonsk v. Min- 
nesota e; GThomas. Seattle. 6 
Stolen Bases: Colima. Oakland. 12; Pettis. 
Californio. 11; Mnebv. Toronto, a; Sheridan, 
Kansas Cltv. 6; Garda. Tor onto. 5; GrttHn. 
Oakland. S: Lew. Chicago. 5. 


PITCHING 

Whining Percentage (2 decisions)-. 11 ore 
tied with 1X00- 

Strfkeouts: Morris. Deiroit, 34: Clemens. 
Boston. 33; BotcL Boston. 30; Hough, Texas; 
29: Nlekra. New York. 27. 

Saves: j.HowelL Oakland. 6: Rig heftl, New 
York. 4: Caudill. Toronto, 5: WaddelL Cleve- 
land. 5: 4 are lied with 4. 

Thursday’s Line Scores 

AMERICAN LEAGUE 
Milwaukee 380 108 008-4 IT 8 

Oakland 280 811 002-5 I 2 

McClure. Kern 161. Fingers If). Searage CM 
and Maoro; Sutton. Atherton (0) and Heath, 
w— Atherton. 2-2 L— Searage. 0-3. hr— O ak - 
land. Kingman 151. 

Toronto 081 800 818-2 7 1 

Cantorota 000 180 003—3 4 8 

SHeta. Acker (91 and Whitt. MortlmK (8): 
5 1 at on. Clements (8) and Nan-on. Boone (8). 
W— Clements. 2-0. L— Stieb. 1-3. 

Boston 818 100 808-2 9 0 

Seattle 800 888 010—1 S 0 

Nipoer.oieda (Sl.Steniev (9) and Gedman; 
Moore. Best (4). vande Bora (8). Stanton C9> 
and Scott. W Nipper, I- 1, L Moore. 3-1 Sv— 
Stanley ( 4 ). HR— Boston. Gedman (21. 

Major League Standings 

AMERICAN LEAGUE 
East Division 

W L Pet. GB 

Baltimore 13 7 050 — 

Toronto 14 8 436 — 

Detroit 11 t 570 iv- 

• 10 12 .455 4 

Milwaukee 9 12 429 4ta 

Cleveland I 13 J8I SW 

New York 7 12 J6I SV» 

West Division 

California IS 1 40 - 

Minnesota 12 9 571 2 

Kansas Cltv II 9 550 2V4 

Chicago « » J* Jti 

Oakland 10 13 .435 S 

Seattle 10 13 ^35 5 

Texas M] jso w 

NATIONAL LEAGUE 
East Division 

W L Pet. G8 

Chicag o 13 6 Mi — 

New rork 12 7 A33 1 

Montreal 13 8 A19 I 

Philadelphia B 12 J00 5Vi 

SI. Louis I I) Al !H 

Pittsburgh 6 13 Jit 7 


Pistons Stifle Bird for Victory 




United Press International 

.DETROIT — Larry Bird was 
bdd lo 2 points in tbe fourth quar- 
ter while Terry Tyiez scored 16 of 
his 18 pants, carrying the Detroit 
Pistons to a 125-117 victory over 
the Boston Celtics in their Eastern 
Conference series. 

The Pistons trail 2-1 in the best- 
of-seven National Basketball Asso- 
ciation series. Game 4 is in Detroit 
Sunday. In Denver, in the other 
quarterfinal playoff pmn Thure- 

NBA PLAYOFFS 

day, the Nuggets defeated the Utah 
Jazz, 131-123, for a 2-0 series lead. 

On Friday night, the Milwaukee 
Bucks and the 76ers were in Phila- 
delphia and the Los Angeles Lak- 
ers and tbe Trail Blazers were at 
Portland. Tbe 76er$ and the Lakers 
both lead, 2-0, in their series. 

Bird, who stung Detroit for 42 
points in Game 2, did not make a 
field goal in the final period. His 
only points in the period came on a 
pair of free throws with 1:21 left — 
the Celtics’ last points. 

Tyler, a 6-foot-7 reserve forward, 
made the Pistons’ last eight baskets 
after scoring just two points in tbe 
first half ana none in the third. 

Center Bill Laimbeer led Detroit 
with 27 points while guard Isiah 
Thomas scored 26 and guard John 
Long 20. Dennis Johnson led Bos- 
ton with 27, including 15 in the 
third quarter. Bird bad 25 awd Ke- 
vin McHale 24. 

Detroit doubled up on tbe ball 
when possible with fresh players to 
try to contain Bird. Tyler and Kelly 
Tripucka did a goodjob of fronting 
the Celtics' forward, keeping the 
ball from bis hands. 

Detroit, which broke from a 62- 
62 halftime tie and never trailed in 
the second half, led 98-96 entering 
the final quarter. 

“I cherish every game we slay in 
contention.** said Tyler. “If we had 
lost this one; our backs would have 
been against the wall Sunday. We 
didn’t want to get swept.” 

Boston Coach K.G Jones had 
little trouble putting tbe game into 
its proper perspective. 

“we picked up the shovel and 
jumped in there with them — start- 
ed helping those people (fig our 
own grave” he said. “The playoffs 
aren't a matter of life and death — 
they’re more important than that.” 

Nuggets 13L Jazz 123 . 

Lafayette Lever scored 22 points 
and Wayne Cooper hit two critical 
baskets ra overtime to lift the Nug- 
gets past tbe Jazz. 

Game 3 of the Western Confer- 
ence series is Saturday at Utah. 




WWRWV ■ «• • -V. 

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The Amsiofad Press 

Boston’s Larry Bird grabs for bis own rebound after 
Detroit center Bill Laimbeer biodeed bis first attempt 


Kentucky Derby 


Son Dteoo 
Los Anoalos 
Houston 

AHan la 
Cincinnati 
Oan Francisco 


11 9 J50 — 

12 10 345 — 

11 10 314 Vi 

10 10 300 1 

10 II Alt H*i 

7 13 354 4 


The ftaM for Saturdays 1119b Kentucky 
Darby, wttfi post raHtton. bersel same, lock- 
er's wm» out odds: 

1. Irish Flower Dor 30-1 

2. Chiefs Crawn MocBetti W 

3. a- Rhoman Rule Vasauez 5-1 

«. Tank’s Prosoect Stevens 0-1 

S. o-Etsmol Pit nee Mfeflare 5-1 

4. Sleo ho n* s OdvsMV Phtcay 8-1 

7. Encolure Arctotn 30-1 

L I Am The Game McHaraue 30-t 

9. Floating Reserve Hawley 20-1 

10. Soond A Buck Cordero 4-1 

11. Prwid Truth VWasauez 9-2 

il Skywoixer Oetahoueeayo 12-1 

11 Fast Aecoiwi CMcCorron 20-1 

la— Brownell combs 1 1 -owned entry) 

Trainers (by sett pasmoel: I. Billy Bor- 
ders. 2. Roger Lourin. 2. Angel Persia. Jr. A D. 
Wayne Lukas. 5. John Lera in L, Jr. A Woody 
Stephens. 7. Tom Morgan. & Kina T. Leattwr- 
burv. 9. Joseati Moral. 10 l Cam GombohUL 11. 
John Veitctt 12. Mike Whlttlngham. 11 Patri- 
cia L. Johnson. 

Owners (brpootoasnion): 1. ircy Prater. 2. 
Star Crown Stable- X Brownell Combs 1 1 and 
others. 4. Mr. and Mrs. Eugene Klein. S. Brian 
j. HursL Goaras m. Slelnbrenner, Browned 
Combs 1 1 and John end Pouletta Past, k Hen- 
rvk deKwlatkawskl. 7. The estate of Fred Par* 
ter. A King T. Leatherbury. 9. Robert E. HiP- 
perl. 10. Huntar Form. 11. Darby Dan Farm. 

12. Oafc aiH stabta. aw. r. Hawn. 
Weights: 124 pounds eoch. Distance: U4 

miles. Parse: S5813SQ II 13 start. FTrsi place: 
M04300. Second Mace: SlOOXOa Third place: 
ssaooa. Foartb piece: SZU0Q. Pea time: 5:38 
pjn. EDT. 


PAST KENTUCKY DERBY WINNERS 
1875 — Arlstfdes 
1874 — Vagrant 
1877 — Baden Baden 
1078 — Day Star 

1879 — Lord Murphy 

1880 — Faroe 
mi — Hindoo 

1882 — Apollo 

1883 — Leanatus 

1884 — Buchanan 

1885 — joe Cotton 
1884 — Ben All 
18B7 — Montrose 

1888 — Macbeth M 

1889 — Spoka n e 

1890 — Rllev 

1891 — Klnemai 

1892 — Azro 

1893 — Lookout 
18*4 — Chant 
1895 — Hotma 
18*4 — Ben Brush 
18*7 — Typhoon II 
1B9S — Plaudit 
18*9 — Manuel 

1900 — Lieut. GKnon 
>901 — His EnMeice 


Denver held tbe Jazz scoreless 
(he final 3:30 of overtime, allowing 
them only 4 pants. . 

Utah had the last shot in regula- 
tion, but Darrell Griffith misrod a 
20-fom jumper with three seconds 
to play to send the game into over- 
time tied 11 W 19. 

Cooper then hit a pair of jumpers 
early in the overtime to give Denver 
a 125-121 lead. Jeff Wilkins made it 
125-123 with 3:30 to play blit tbe 
Jazz were unable to score again. 

Alex English bad 26 points and 
Calvin Nait 24 for Denver. Rickey 
Green scored 25 pants and Wil- 
kins and Adrian Dantley 20 each 
for the Jazz. Dantley scored only 6 
points after halftime. 


Horse Racing 


• Ahm-o-Oal* 

• Jude* Himes 

• Ehraad 

■ AMI* 

- Sir Huon 
•Pink star 

■ Stone Street 
’ W ln t ara raen 


“I think when you shoot 24 of 33 
from tiie foul Ime in a game that 
ends in a tie, you’re probably going 
to lose in overtime,” Jazz Coach 
Frank Layden said. 

“Anytime you give up 38 points 
in a single quarter [the second] on 
the road, you’re probably gong to 
lose,” he said. knew if we got 
into a game over 130 pants we 
were gomg to lose, because Denver 
plays that type of game better than 
we do.” 

Denver Coach Doug Moe said, 
“I don’t think we played with great 
intensity until we got down 1 10- 
103, and then we sawed 10 straight. 
From that pant on, I thought we 
played great.” ■ 


- Mertaan 

- worth 

- Doneran 
-Old Roeebad 

- Regret 

- Goora* Smith 

- Omar Khowam 

- Exterminator 

- Sir Barton 

- Paul Jonas 

- Behave yo utj o H 

- MorvtCb 
-Zev 

- Block Sold 

- Flv tag Ebony 

- Bubbflno Over 

- Whiskery 

- Ralgti Count 

- Clyde Van Damn 

- Gaftant Fox 

- Twenty Grand 

- Burgoo King 

- Brokers Tip 

- Cavalcade 

- Omano 

- Bald Vesture 

- war Admiral 

- Lawrtn 

- Johnstown 

- Galtahooton 

- Whlrtewav 

- Shut Out 

- Count Fleet 

- Pensive 

- Hoan, Jr. . 

- Assault 

- Jot Pool 

- Citation 

- Ponder 

- MWdiagroend • 

- Conor Turf 
. Hill Gail 

- Dark Star 

- Determ i ne 

- & WN 

- Needles 

- Iran Uaoo 

■ Tim Tam 

- Tomv Lea 

• Venetian Way 

■ Carry Back 

- Docklodir 

■ OtaNoueav 

■ Northern Dancer 

- Lucky Debonair 

■ Kauai Kino 

■ Proud dorian 
Forward Pass 

1 Malesrtc Prince 

■ Dust Cammaader 
Cdnonera tr 


- Riva Ridge 
-. Secretariat 

■ Cannonade 

- Foonsb Pleasure 
•Bold Fortes 

■ Seattle Slow 

• Affirmed 

1 Spectacular Bid 

- Genuine Risk 

■ Pleasant Colony 
Goto del sol 

■ Sonny's Haro 

■ Swale 


Hockey 
NHL Playoffs 

THURSDAY'S RESULT 

OM« — - 1 -1 8 l-J 

- M um re al 8 18 8-4 

Beit (2), Sauve (3), p. Master CO; Moadou 
(21. Nasttmd (71. Shots on goal i Quebec l Pen- 
ney) > 440—8; M ontreal (on Gossefln) 4 - 12 - 
04-44. 

. DIVISION FINALS .. 
Ad e msi 'Quebec wins stales 4 fl- 
Patrick: PtmadeMila wins' series '4-1 - . 
Norris: Chtaago wins series 44 
santtbos Edmonton wins series 44 


Tennis 


MEN'S CHAMPIONSHIPS' ' " 

'- (at Hamburg) 
QaarlmNalais 

Mots WDarter. SwMen, del. Gumerma vi- 
tas. Argentina. 4-14-0 - 

. Henrik Sundstrob. Sweden, dot AadrvsGo- 
mtL Ecuador, u. a-0 

Jaso-Luts Clera. Argentina, dot. Jan Gan- 
norsooa Sweden. 6-4, 4-2 - . 

MBastaV Modr, Cakhaslduakia def. Joo- 
klm Nvstram. Sweden. 4-£ u - 


Transition 


OAILLAND— Sent rim Conroy, olfoier. hj 
Tacoma of Nw Pacific Coast League. Placed 
Mfchor^n the isdov tOsabled 
HU. Coiled up Ttai Urtsb* ptteber. and hum 
Oaliraa. tetwder.' tram Tacoma. 

rORK^P|be*4 Rog-fiardenttiretn. 
(Wdor. on the 15-da? disabled-list. Recalled 

^CwkstafcoutflMder..^ 

■». IntinaUuml-LiMUK -- 




-L rtUl ill 1 







Page 20 


INTERNATIONAL HERALD TRIBUNE. FRIDAY MAY 3. 1985 


PronowwedlKffereiwes Cultivati ng I^aisiana’s -Di xie Lobster’ 

n d ,, n , B Ls 4n°tiaTimn Scma* rvM Organizers of Tokyo’s first inter- ihc organizers of a festival in tl 

a) ivusscii oaker an's luxury of filling space on an « dc , ,iy nDinr.r t s& national film festival, opening May writer's hometown of Giwnstar 


PEOPLE 


By Russell Baker 

N EW YORK — U you’re plan- 
ning to be a newspaper colum- 
nist, folks, don’t ever have a home- 
town named Morrisonville or come 
from a state called Virginia, or one 
of these days you’re going to wake 
up with a head so empty of ideas 
that you could* use it to hang the 
laundry out to dry. 

You’ve already used up "Presi- 
dent Reagan won't do." and you've 
rewritten it as "President Reagan 
still won’t do.” and then you've 
rewritten it again as "President 
Reagan is never going to do. but 
the Democrats don't offer much 
either." 

You dare not rehash the column 
about your kids (how cute they 
are!) one more time, because since 
you first wrote it 15 years ago the 
kids have grown into 200-pound 
brutes and have warned you: One 
more column about their cuteness 
and they’ll break every knuckle in 
both your typing fingers. 

This is the day you want to come 
from Missouri or have a home town 
like Quincy. Massachusetts, either 
Of which permits you to do your 
tongue-in-cheek piece about when 
is the rest of America going to wise 
up and learn to pronounce your 
hometown (or state) correctly. The 
joke here, such as it is. is that peo- 
ple born to these locales refer to 
their native sail as "Missoura” and 
“Quinzy” and delight in the dumb- 
ness of strangers who pronounce 
them "Missouree" and “Quincey." 

1 have just read such an ankle. It 
is by Calvin Trillin and it appears 
in his new book, "With AH Disre- 
spect.” which had me slapping my 
thigh and crying, “This Trillin is 
just about the funniest thing that 
ever came out of Missouri," until ! 
came across the inevitable piece. It 
corrected my pronunciation. It said 
I should be crying “funniest thing 
that ever came out of Missoura.” 

□ 

1 didn't take it well. To have my 
cries of praise cut off by this lecture 
on pronunciation seemed the 
height of ingratitude. 

If I were to write Trillin saying, 
"O.K., Mr. Ingrate, let me bear you 
pronounce Morrison ville, Virgin- 
ia," he would be bound to call me 
and say. “MorrisooviHe, Virginia,” 
without the slightest pronunciation 
error. Who wouldn’t? 

I have never had the Missouri- 


an’s luxury of filling space on an 
empty-minded day with sneers at 
people too dense to pronounce the 
source of my tools in correct native 
dialect. Over the years, though. ! 
have noticed a curious form of 
pride among inhabiiams of places 
that are pronounced bizarrely. 

They seem to feel belter, cosier, 
superior perhaps, for being pan of 
a small elite that knows the im- 
probable but correct pronunciation 
of (heir locale. 

In Namuckeu for example, there 
is a village spelled Siasconset, and 
few events give the Nantucketer a 
more alarming sense of falling 
among savages than being among 
people who don’t know that Sias- 
conset is pronounced "Sconseu” 

The same phenomenon appears 
in Virginia, not loo far from bliss- 
fully pronounceable Morrison ville, 
in the case of a town spelled Staun- 
ton. Though all civilized English 
speakers would naturally call it 
"Stawnion," any pronunciation 
other than “Stanton" marks the 
pronouncer as a barbarian. 

□ 

There are some place names, of 
course, that appear simply unpro- 
nounceable after examination by 
the human eye. Such is Skaneateles, 
New York. Politically, nobody 
likes a politician who can't pro- 
nounce the hometown name right, 
and touring politicians are always 
given pronunciation lessons before 
stumping in Skaneateles. The ad- 
vice to Robert F. Kennedy was, 
“Call it Skinny Atlas.” That’s 
about right, I believe, but do you 
want to rely on a man who refuses 
to say “Missoura"? 

And I do refuse to say “Mis- 
soura," Trillin's scolding notwith- 
standing. My stubbornness here 
probably gpes back many years 
when I went around Miami saying 
"Miamah." Somebody who 
claimed he knew said if you didn't 
call it “Miamah” the people there 
would think you were a hick and 
girls wouldn’t go out with you. 

After a lot of girls refused to go 
out with me, one finally did. She 
was polite, but late in the evening 
said she wanted to take me to meet 
her parents next time and hoped I 
would learn before then not to call 
it “Miamah." since the old folks, 
who were finicky, might think I 
didn’t speak such hot English. 

Sew York Times Service 


By Charles HiUinger 

Las .■fngefej Times Service 

B REAUX BRIDGE Louisi- 
ana — When Louisiana 
State University started studying 
ways to grow crawfish — the suc- 
culent, spiny denizen* of Louisi- 
ana's bayous — researchers kept 
hearing about what a waste of 
time it was. 

"People smiled pleasantly 
about our efforts,” recalled James 
W. Avault, professor of fisheries 
at the university's agricultural 
center in Baton Rouge. “But they 
said we don’t need farming when 
we have plenty of crawfish in the 
wild to eat." 

But "Dixie lobsters," which are 
also known as mud bugs, craw- 
dads, creek crabs and crayfish, 
are Louisiana's fastest-growing 
agricultural product, taking sixth 
place behind soybeans, rice, 
wheat, sugar cane and sorghum. 

"The Louisiana crawfish in- 
dustry has a tremendous poten- 
tial,” Avault said. As recently as 
four years ago. he said, 98 percent 
of the crawfish harvested in Loui- 
siana were consumed within the 
state. Last year, however, 10 per- 
cent of the crop was shipped 
throughout the United States and 
to Europe. 

Half of the state of Louisiana is 
a network of _ swamps, marshes, 
bayous and rivers, which would 
seem ample to proride enough 
wild crawfish to meet growing 
demand. But the wild crop is not 
always predictable. So, led by re- 
searchers at the university, an in- 
creasing number of acres have 
been given over to pond farming 
to ensure a stable supply. 

In 1970, there were only 3,000 
acres (1,200 hectares) of crawfish 
ponds in the state. The acreage of 
ponds more than doubled from 
30,000 acres in 1980 to 110,000 
acres in 1984. 

Last year, a total of 100 million 
pounds of crawfish was harvest- 
ed, half from ponds and half in 
the wild. Most of the wild crop 
comes from the 100-mile-long, 
20-mile-wide (160- kilo me ter by 
30-kilometer) Great Atchafalaya 
Swamp. 

The farmers and fishermen 
were paid an average of SO cents a 
pound for whole live crawfish last 
year, representing a S 50-million 
industry at the dockside level 
alone. Retail prices are much 
higher, with Louisiana markets 



Workers sorting crawfish at a processing plant in Breux Bridge, Louisiana. 


selling the meat for S4 to S7 a 
pound, depending on the time of 
year and avaikfttijty. 

Roy Robin, owner of Bayou 
Land Seafood of Breaux Bridge 
— a town that calls itself the 
crawfish capital of the world — 
buys his “Dixie lobsters" from 
farmers who set funnel-shaped 
wire traps in shallow ponds and 
from fishermen who trap the 
crawfish in the wild. 

Robin's plant is one of the 
state’s biggest. There, the 3-to-5- 
inch-long (7.5-to- 1 2.3 -centime- 
ter) crawfish are boiled and 
peeled, and the edible meat is 
removed from the tails. Last year. 
Bayou Land Seafood processed 
two million pounds (one million 
kilograms) of crawfish, shipping 
the meal to restaurants and sea- 
food dealers in a dozen states 
across the country’. 

“The beauty of the crop as I see 
it," said AvaniL “is that it is a 
gourmet item at a price the aver- 
age citizen can afford, a succu- 
lent, tender, tasty food much like 
lobster but smaller and sweeter." 

Crawfish meat shows up in 


Louisiana's ethnic delicacies tha t 
have been prepared for genera- 
tions by blacks and Cajuns. Now, 
on the crest of the increasing pop- 
ularity of Louisiana cooking in 
the United States, restaurants 
across the nation are featuring 
such dishes as jambalaya, gumbo, 
crawfish bisque, crawfish Creole 
and crawfish remoulade. 

“Crawfish is low in calories, 
high in nutritive value," said Jane 
Barnett, editor of the quarterly 
magazine Crawfish Tales, a trade 
publication that is published by 
the Louisiana Crawfish Farmers 
Association in Lafayette, Louisi- 
ana. 

Producers, processors and the 
Louisiana State Agricultural De- 
partment are just beginning to 
promote crawfish nationwide, 
she said. "A few franchise food 
chains are starting to serve craw- 
fish. There's a lot of excitement 
here.” 

For thepast 20 years Louisiana 
State University has been the 
world’s leading crawfish research 
center, with eight resident scien- 
tists devoting full lime to research 


in labs and at ISO experimental 
ponds. 

Their research in pond fanning 
has had a side benefit for the 
state's rice fanners, many of 
whom are now “double-crop- 
ping” with crawfish to help them 
through a world rice glut and low- 
prices. 

After the rice is harvested in 
the fall the paddies are flooded 
and stocked with wild crawfish, 
which eat the stubble of the har- 
vested rice. Later in the year, 
when the new rice crop is starting 
to grow, the female crawfish bur- 
rows into the black Louisiana 
clay, where she lays an average of 
400 eggs. Once a pond is stocked, 
the crawfish continue to repro- 
duce season after season. 

The growth of the crawfish 
crop is already outpacing that of 
another, more common freshwa- 
ter inhabitant. 

“The 1 10.000 acres of crawfish 
is greater than the total combined 
acreage devoted to catfish farm- 
ing in the United States,” Avault 
said. "And we have only just be- 
gun.” 


Organizers of Tokyo's first inter- 
national film festival', opening May 
31. have decided not to show the 
U. S. director Pud Schrader’s film 
biography of the novelist YtddEo 
Mishina. Organizers said they 
tumed it down for security reasons 
after threats from extreme rightist 
groups, but film experts in Tokyo 
said that the real reason was the 
film's subject and that the Japane- 
se- American co-production might 
never be shown in Japan. Mishima. 
who committed ritual suicide in 
1970. held controversial political 
views, and his widow has protested 
the film treatment. 


A jury in Lisbon, North Dakota, 
has found that Uqyd Miller, who 
willed SI J million to the U.S. gov- 
ernment. was insane. Government 
attorneys had contended that 
Miller, who left SI each to his four 
brothers and sisters when he died 
last year at age 70, just didn't like 
his relatives. Mark Fraase. the fam- 
ily's attorney, noted that one wit- 
ness testified that Miller wanted to 
spread his money among the 30 
states so nobody could profit from 
trilling him. . . . A man who acted 
as his own attorney in defending 
himself against charges of attempt- 
ed robbery plans to appeal his con- 
viction — claiming he had an in- 
competent lawyer. Michael 
Blackwell, 23. of Bridgeport, Con- 
necticut, was found guilty of at- 
tempting to rob a state court bailiff 
and a city police detective in No- 
vember 1984. 


The violinist Yehudi Menuhin 
can now be called Sir Yehudi, al- 
most 20 years after he was knighted 
by Queen Elizabeth IL The Ameri- 
can-born Menuhin could not use 
the title because he was not British, 
but he has disclosed that he was 
made a British citizen in February 
after living in England for many 
years. 


Supporters of the short-story 
writer O. Henry. 73 years after his 
death, have failed to win a federal 
pardon for him — mainly because 
he is dead. “That's all there is to it. 
A pardon isn't complete until it’s 
accepted by the person, and a dead 
man can’t accept it.” said Trueman 
O’Qirinn, a retired judge in Austin. 
Texas, who has written a book 
about 0 Henry and was asked by 


the organizers of a festival in the • 
wriier’s hometown of Greensboro. 

North Carolina, to help arrange a 
presidential pardon. Henry — Wil- 
liam Sydney Porter in real hfc — • s* 
was convicted in 1898 of embez- 
zling J784JJ8 from an Austin bank. « 

□ llj 

GerakBne Ferraro says in a TV I! 1 
commercial that she’s port of the*! 1 
Diet Pepsi generation, bur the for- H 
mer U. S. vice presidential candi- 1 
date was caught in a filmed inter- I ® s 
view with WCBS-TY of New ) ork I . 
with u can of Coca-Cola on her j 
As part of the $750,000 deal J 
for her reps commercial, Ferraro 1 1 t 
cannot appear in public using a ill p 
competing soft drink, so she asked 1 
that the footage be deleted from the 
interview, maintaining that the 
Coke belonged to her secret arv, 

WCBS agreed to drop the segment 

□ 

The fashion designer A&t* pfc. 
pen b as been sentenced byU.S# 

District Judge Raymond Broderick 
to ihreeyears in prison for paying a 
$200,000 bribe to avoid payment of 
SI million in. federal. income taxes. 

Nipon had pleaded guilty in Phila- 
delphia to one count of conspiracy 
to defraud the government and two 
counts of tax evasion. Edmond 
Constantin!, a former Internal Rev- 
enue Service agent w bo pleaded 
guilty to acting as an mtermedurv 
in the scheme, was sentenced to 
four vears in prison and fined 
5100,000. Nipon. 57, built his $60- 
million-a-year fashion empire from,# 
a Philadelphia maternity shop 
owned by his wife. Peart. 

a 

Doctors say the internal bleeding 
that hospitalized Jerry Lee Lewis 
lust weekend was caused by ulcers* 

D * 

HRmy Hemingway, a niece of Er- 
nest Hemingway, has wm a trip to 
Lee Angeles for writing a screen- 
play about hex father, Ernest’s 
brother Leicester. Hemingway. 23. 
of Son Marino Island, Florida, was •< 
one of six winners of the state’s first 
competition for Florida-bared .,-i 
screenplays. Governor Bab Grakun .r.i \ 
announced. Her script, “A Light C~> 

Within the Shadow, details the 
struggle of Leicester Hemingway to 
maintain his identity as a writer m 
the shadow of his older brother. He 
committed suicide in 1982,21 years 
after Ernest Hemingway kilted 
himself. 


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REAL ESTATE 
CONSULTANTS 




We undertake complete design & su- 


INTERNATIONAL CLASSIFIED 


REAL ESTATE 
. FOR SALE 


REAL ESTATE 
FOR SALE 



REAL ESTATE 
FOR SALE 


PROVINCES 


REAL ESTATE 
FOR SALE 


PCM MORE BEAL ESTATE 
OmWUMTIES SEE 
PAGE 17 


one of the most beautiful homes. Ip 
stage of cortonidion, southern aspect. 
Suing room, kitchen, hei, 4 bedrooms, 2 
bedw,quoy wilh berth, ovciafcle mere- 
dfaMy- (ram private. Hoefaet, 5000 
Korin 41, AM GfebeUterg 12. Tel: 
(0)221/49 40 65. W. Germany. 


REAL ESTATE 
FOR SALE 


GREAT BRITAIN 


ST JOHN’S WOOD, HAMILTON Ter- 
race. 3 floored house, completely re- 
furbished. 4 bedrooms wish 4 erauHe 
bathrooms, complete new bxhen, id 
appliances, study, double reception 
30 x 16 ft, garden. 70 ywrs. £295000 
la ndude new comets. 01-499 9981 
Sunday. Monday MHO- 2J0& week- 
days (anytime]. 


LONDON BEAUTIFUL FLAT overicok- 
ing River Thames with gardens, sau- 
nas aid swimmrig pool. 3 beriooms, 
reception room with dining alcove, 2 
bathrooms. haH. balcony. AS impres- 
svefy and tasteful/ decorated. 992 
year lease £155.000. Everuus 01-385 
3173, daytime 01-248 3527/01-248 
7195. Pnncfaab only. 


REAL ESTATE 
FOR SALE 


IRELAND 


IRELAND. TYRREUSPASS County 
Westmeath. 60 tides from Dublin cn 
the man Galway Rood. 2-storey ola 
recsory over weD laid besemenr. 4 
bedrooms. 2 bate, modem kitchen, 
perfect condition, exoefait yard & 
outbuildings. irh£ 150.000. Far mare 
in f er mohon tel 353/44/23232 Ireland, 
from May 5th on. 



REAL ESTATE 
FOR SALE 


ITALY 


PARMA AREA. BeourifuSy restored, 
modernised farmhouse & adocent 
lodge starving m wooded garden, 
surrounded by 18 hectares or fertue 
lend indudinc modern targe scale 
dory stable & fcmwarker j house. 
Teh Dr. Adam, MOan (02) 4984997. 


ITALY PORTO BICOLE stone bu* 
famrty Souse - 210 iqjn. with Vrge 
ferrcee m lovely vaSey overlooking 
farts & sea. I separate apartments. 4 


REAL ESTATE 
FOR SALE 


PARIS & SUBURBS 


VELA MONTMORENCY 

DUPLEX, MAGNIFICENT 
‘Am« D'ARTBT* 175 SQM 
on beautiful private garden, triple 
receps tom, 2 bedrooms 
EXCEPTIONAL COMXTION 
EMBASSY SERVICE 562 16 40 


REAL ESTATE 
FOR SALE 


PARIS A SUBinBBS 


forts & sea 7 separate apartments. . 
baths, sleeps 7. 4 .800 sain, garden & 
land. Tel: Q564.'8333T77 


MONACO 


ITALY 


ROMA - PARKXI for sole n Romes 
mast exduave & etagart antler, only 
a few minutes Iran via Yeneto & the 
center, a private vSo 600 sqjn. + 
gmdm. A*w ovalabta aria 4 super- 
attics of 250, 300. 500 & 800 sqm. 
mare terraces with superb raw 
Apartments from 100 ssfcm- with and 
without gordero. Best prices, sold A- 


MONTE CARLO 
PARK PALACE 

Magnificent apartment. 116 sq. meters 
parity furnished at Park Patace. oppo- 
site me coseio and Hold de Pans, in the 

fenU w t TrirwJa of MnftfD Crw\rt nmee 



park. Lockers. 
& leoure fad 


SUNNY BALCONY 

ON PARK MONCEAU 

EXCEPTIONAL APARTMENT 
recaption + 3-4 bedroom + naxf i 
room. Dorlona fe* price. 


FOCH (NEAR) 

About 280 sqjn. 3 reeeaxm, 4 bed- 
rooms, very well and for. 766 33 00. 


COSTA BRAVA (SAGARD) n on. of 

MALLOROCS NEW *» most becwhfd went n Span. 

House 210 UK + garage. tanan 

SUPS PORT 

rooms, 3 baths, 620 earn tend and 

IteonSsSSffifflS 

hSSSf =6fewboaf lose* too. All rimed* I 
framGenncn owner. No agent. Price.] 
r . mawt - (115^00. Contort owner m B o 7 

etHt. repar, fuel station, m Ik outdoor IS Off FROM TOUR (WONT - or 
winter hordstandt. Underground car kitchen door! In G u o rkA wmi GoH 
pork. lodm. Complementary servos vria. incoiiipoiafaty mat Ran. town & 

It tenure faefthas: raetkeaf, oaniann. penthouses wdh ocean view, mcesur- 
tfwppng, catering, entenammort. Gar rounrings & mtenwuanri resdenfc 
&tenna nearby. Lomcneradaea oonw abound, happty bong the easy Gua- 
pniet 85 untfs on 13,171 sqjn, m afl. dabrino'way4>f-l&. btformation- 
rtos 31 super o p urhBwto above 578 m PSOMOTUE • Aportodo 118 • Mor- 
separate wwy condo -of in front fine beta -Span Ik- 77610 OTURE The 
along mam piers. Top imseilnieieB 45X BEST Property Peopfa". 
soMtHnTy now before nesntace reel ... ... , , 

PUERTO PUNTA PORTALS. &A. Eaota iwfoced garden. 4 double bed 

Director Comorod rooms. 3 bams, 3 mnutei scpnrb sea 

O Marino lQVtaKfe Nous swmwmn, 5 mrttoe shop,iepo»- 

Mdtarcn. Spaui or tbc 68684 CMJU L rtmto 114 hours omrt £70^0: 


tenure fodtfMS! m cdcol, rai 
tpnna cotennq. ent e rtomwert. 


tfwppng, catering, an te nomwert, Gdrf roundns 
& teams nearby. Comcneradaea oom- abound, 
onset 85 umfs on 13.171 sqjn, m ofl. dabnno- 
Met 31 super o pu r ke eris above 6 78 m PSOMQ 


super apartments above 4 73 mi 

re luxury condo - of in front few 


MAJORCA, peamful vria an pew dad 
htl MagnAcent wewi of sea & vaBey. 
Emm terraced oardsn, 4 double bed 


ALOHA GOLF COURSE 

MAXBEUA 


Eaobc terraced garden. 4 double bed 
rooms, 3 baths, J minutes sqterb sea 
wnmaung, 5 mmutos shops, icpcu- 
rants 1)4 hours deport, £70,000: 
Bradbr, 7 The Chose, London 5W4 
ONP. Trii 01-622 1948 after 4pm. 

MALLORCA: BEAUTIFUL farmhouse 
with garden 4 bm from mo. 4 bed- 
room, 3 luxurious bto hoflee. tasch- 


r?g*.f r c °*y° p T Tto C*V dmng room. 2 Inwg roORS with 

IAST 44 luxury 3 bedroom, 2 to hroom serr^ "necsocutar wSw a< ten & 
country. fifSiTO WSggtenwrfL 53 


membership ihme at Aloha Golf, 
from Jan. la 1986 Aloha wfl beam 


SrCTp^^Sneo Conon^takSo^tondonNl 

pr wote country dub wher e ariy shore ^ 

B«U»IVE5PIU«M|eopplyj^ 
far ■nwdmewt. Atonto Ptama 18 km 
houwlnve^equ^btehteiaid ^ j v<Janoa j betfiom, 5 

pooh and tomiaxFl* ondTred^ 

Far infani Mtoun aA M At l ORC A Newly bufl farm 500 

ALOHA MVEST temon trees, eOffu srjjn. wcnterM 

MM SJL nxxmtain & sea view, spring water, 

ALOHA GOLF PENA BLANCA peak * dwfatoald house to be re- 
NUEVA AMDALUOA stared. S2 SOjOOO. Box 2115. Herald 

MASBEllA - SPAM Tribune, 92521 NeoiSy Cede*. 

TEL (34-52) 784984 or 783444 France. 


MALLORCA fWy bu* farm 500 
lemon trees. 60,000 sqjn. wmterfri 
mountain & sea view, spring water, 
pod, 4 chdeturid houw to be re- 
stored $250000. Box 2115. Herald 
Tribune, 92521 Neuriy Cede*. 
France. 


ARCHITECT SELLS HOUSEBOAT fac- 


COSTA DEI. SCX. - Gouda Seoufafuf 

THMMNG ABOUT RETTJBNG in oGve, nd fa unique Nl vAtae. 25 
Spoei? Splendid idea, rfyou ora hood- nunutas beadxn, Es trpono, l hour 
tag far Morfaefla - Coteo del SaB GtaraBar. 3 bedrooms, patio garden. 
CritaxT use We buy, seU, lenr, eon- aipwb views. FuBy moftentand 
pruel, vilai and eparpeenb, beach- E49JOO. Tnfc 01-385 W70 UK 


Spata? Splendid idra, if you ok head- 
tag far AtabeBa - Goxta del SaB 
Ccmtod us: Wi buy, seU, raw, con- 
Wectj, vitas and aparpnents, beoch- 
tiite, »i the mounrdns and on die goR. 
We m rafter sure to hove got whef 
you m laaktag for and if not wel 
produce it for youl PKQMOTlBt - 
Apartodo 118 Marbefc Spain. Tix ; 
77610 cm* E. TWfer Property 
People" 


BALEARIC tSLAKK, Mmprcai 19th 
oeWury fair house. $45,000. Boot 
2126. Herald Tribune, 92521 Newfly 


oenhrry ft*m house. $45,000 Box 
2126 . Herald Trfaune, 92521 Newfly 


PAGE 4 
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HOLIDAYS & TRAVEL 


HGUAS YACHTMGl Yocht Chortem. 
Arademtas 28. Athens 10671 .Gw. 



TUSCANY, wine farm Bab, rent, Ror- 
4/ tennis, Munidi 4309091