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••: .'vii.iWJ: 

Reagan’s Farm Plan 
Seems to Be Aimed 

At Exporters in EC 

By Seth S. King 

New York Times Service 

administration's $2-b3Jion farm 
export subsidy plan is likdy to be 
of more ben efn as a new weapon 
a gainct European. Community ex- 
porters than as a means of immedi- 
ately improving the American farm 
economy, according to agricultural 
export analysts. 

These analyst 

against the countries that subsidize 
exports and was making American 
farmers eompete on “an tmlevd 
playing fidd.* 

The official said that President 
Ronald Reagan had agreed in gen- 
eral to the new export subsidy pro- 
•gram, bat that most of the trouble- 
some details had not been deci d ed. 



tha AwxUad Fran 

A United Atrtmes pilot picketed Friday m San Francisco. 

$ Thousands Are Stranded 

: ■ “SSli 
■ T*v -j.W 

biU.S. as Pilots Strike 

1 ’-t » ! 

fc V \ • : 

' Con^kdfy Ov Su^ FromDi^iatcha 

. irjjl CHICAGO — More than 5,000 

' pilots strode United Airlines in a 
salary dispute Friday, stranding 
thousands of passengers in the 

RF'ltTC mnnaama ih podsca^as in uie 

me tiii United States, XOTcing the nation’s 


largest carrier io halt^ service at 




airports and creating turmoil in the 
air travel industry. 

United said it would combat its 
first pilots’ strike -.since. 1951 by 
flying with nonunion weaken and 
those who. defy pickets. Theifight 
attendants’ union said it -would 
honor pida±^nes,’wfaich began ap- 
pearing at mxports eariy Fnday. 
Few Cfights were scheduled Fri- 

■ oi-.-.S- 


d ay and even fewer took o ft Ac- 
cording to the. onion, which said it 
■ was monitoring flights from every 
airport, only 19 flights had taken 
dffby 11 AM. 

United nffiaals said that the 
only-mteiiuiriooal flights operating 
would be to Tokyo and Canada, 
and they were not sore on what 
kind of schedule. Flights to the Ca- 
ribbean and to Hong Kong were 
canceled . 

> • A United official said . that , die 
alri^WQuH- iocpsservic^^^- 

vice at S9. . 

plan as a way to help 
cmigresaonal leaders 
lecnonist demands from fern belt 
members, who are now writing a 
new farm bOL 

Agriculture Secretary John R. 
Block announced Wednesday that 
during the nest ttese years Ins de- 
partment would -give goverameat- 
owned smphses a gram and dairy 
products to U.S. cayott c n to hdp 
♦hem inwwy ^alcs to certain mar- 
kets that have been lost to other 

The adxamistration and mem- 
bos erf Congress charge that other 
exporters, particularly those from 
EC nations, have been unfair 
trade practices, such as subsidies, 
to capture maAets from U5. ex- 

Mr. Block caphamcd that the 
gifts of ccmmxxntks would be giv- 
en only far rates to “carefully tar- 
geted 7 ' countries, where there was a 
riuwina of underselling other ex- 
porting countries that subsidized 
their sales abroad. 

“This lets the rest of die world 
know that we’ve sat by long 
enough,” Wflham G. t ^hw a 
private agricultural consultant who 
recently saved as the Agriazltsre 
Department's chief economist. 

Mr. Lesha 
billion in surplus 
wore available far the program, be 
doubted ijwt very much of this 
would be used this year, because it 
would not be easy to move back 
into lost markets. But in . the long 
run, he said, the p ro g ra m might 
help improve U-S. exports. 

AnadministxatiQn trade official 
said the plan was designed to bdp 
farm beh Repobficaos in the 1986 
eJecaohs. For thelastyear, farmers, 
have been cooqjlanung that the ad- 
miuistraiKM -was not retaliating 

A new dispute oo farm sabsidtes 
embroils the EC Page Z . 

Mr. Block did not name airy erf 
the exporting countries that he was 
accusing of unfair practices. 

But an Agriculture Department 
trade official said that the EC 

countries, which heavily subsidize 
in the 

their exports, had in the last two 
years been selling about 20 million 
metric terns of wheat and feed 
g rams tO tmTiftfw that previously 
bought most of these commodities 
from the United States. 

Last year, the United States ex- 
ported about 88.7 million tons erf 
wheat and com to all its foreign 
customers. This year 92 million 
tons las been forecast. In 1982, 
94.2 million tons were exported. 

He included in this list countries 

May Defer 
A Summit 

U.S. Aides Say 
Internal Affairs 
Preoccupy Him 

Ths Anooalod ProM 

in North Africa, Eastern Europe, 
Union, the 


the Soviet Union, 
Middle- East and the sub-Saharan 
region in Africa. 

The EC spokeswoman in Wash- 
ingion, EDa fcucoff, said there was 
“grave concern” about the attacks 
on its subsidy programs and that 
rhe EC rescaled the way it had been- 
wtaHe the target of this plan for 

“We don’t feel that we unfairly 
subsidize our form exports,” she 
said. “We are abiding by the rules 
of the General Agreement on Tar- 
iffs and Trtda" 

“The Commo n Market doesn't 
fed responsible for the American 
agricultural problems,” she added. 
“And it is wrong for Congress and 
Mr. Block to imply dial we refuse 
to discuss the export situation. We 
have said that we are willing to 
dingoAs subsidies on individual 
commodities, but we cannot eafimi- 
uale oor farm pcflicy." 

• ’The administration- in the last 

HOSTAGE EFFORT — The Reverend Jesse L Jackson, with Peggy Say, sister of a 
UJS. hostage held in Lebanon, after he offered to seek the release oTseveral prisoners. 
Jn Beirut, a terrorist group reportedly threatened to attack US. cfiplomats. Page 2. 

U.S., India Sign Final Agreement 
On High-Technology Equipment 

(Cont in ue d on Page 2, CoL 7) 

• By Steven R. Weisman 

New York Time Service 

NEW DELHI — After months 
of diffic ult negotiations, India and 
the United States signed a final 
agreement on Friday permitting 
the use of sophisticated American 
technology for Indian business and 
military ventures. 

Malcolm Baldrige, the U.S. sec- 
retary of commerce, said the accord 
would clear the way for a sharp 
increase in trade and joint Indian- 
\LS/business~ cooperation. 

*TT»e main thrust for India is to 
develop its own high- tech indus- 

try," Mr. Baldrige said, emphasiz- 
ing that tins process would now be 
assisted by American businesses. 

The accord was regarded by 
many experts as signifying a break- 
through in Indian-U.S. relations, 
which have been marked by con- 
tentiousness and bad feelings for 

A wanning in the relationship 
between the two countries began in 
1982, when President Ronald Rea- 
gan met with Prime Minister Indira 
Gandhi in .Washington. Last year, 
representatives erf the two countries 
signed a memorandum of under- 

standing calling for an agreement 
on the transfer erf high technology. 

Bui there were delays in agreeing 
on what American officials called 
“implementing language" for the 
memorandum. U.S. officials were 
asking for assurances from India 
that the technology not be allowed 
to find its way into the hands of the 
Soviet Union, with which India has 
close ties. 

In addition, because of height- 
ened concern in Congress about the 
spread of nuclear weapons, U.S. 
crfGdals asked that India provide 

(Conthnsed oa Page 2, CoL 6) 

Confuaon arid stranded passen- 

. -tr- 

•■t -s’- 


Ulster Vote 

Builds Power 
« r ' Of Sinn Fein 

on more than 1,550 

. ..>••* 

Wi-SV/i:- '‘.4 - 

ConfU ed by OvrSttff From Dbpotehd 

■ * BELFAST— Sinn Fein, tivepo- 

*« - 



lineal wing <rf the outlawed Irish 
Republican Army, has won. more 
than 50 of 566 seats on town coun- 
cils in Northern Ireland, giving it a 
new political role m two- thirds of 
the province’s local councils. 

^ Nearly complete election results 
/announced Friday showed -that 
hard-line parties on both sides of 
the sectarian divide scored gains in 
theprovince’s 26 council chambers. 

Toe results showed that Sam 
Fein had. wan almost 10 percent of 
the vote, malting it a force in local 
government. for the first time and 
raising the possflnhty of serious 
dashes with die dominant pro-Brit- 

_ And far ibe first time, Snn Fan 
candidates plan to take the council 
seats to which they woe dected. 
Previously, they have run fo? office, 
that boycotted the cotmrils after 

i-Danxxy Morrison, Sinn Fan's 
^jecond-m-cotnmand, sad that toe 
-Result of Wednesday’s voting was a 
popular mandate for the organiza- 
tion. ■ 

; Another party official, Martin 
McGuinne^ said that only “the 
catting edge of the IRA,” not elec- 
tion victories, coaid achieve toe 
party’s goals of aiding British rule 
m tite province and touting Irelaiid. 

' British analysts said tost Sinn. 

Other airlines said they were 
working with United to meet the 
expected increased demand. 

Federally mediated talks be- 
tween the company- and toe Air 
line Pilots Association, which rep- 
resents 5,300 United pilots, stalled 
over United’s proposal to start new 
pilots at. lower salaries and slow 
toefr raises. The onion contends the 
two-tiered system would create am- 
mosify among plots and jeopar- 
dize afety; United says it cannot 
otherwise remain competitive. 

United wanted to start new pi- 
lots at$21,6D0 a year, instead of toe 
current $22,452, mad to slow their 
raises. Curtains with 20 years’ Dy- 
ing experience makeup to$152j000 
a year and the airline has said the 
new system would enable it to con- 
pete with ratines who pay their 
top-scale pilots $75,000 a year. 

'After five straight days of bar- 
gaming in Boson, talks hroke off 

early Friday with no new talks 
‘ aled. The pitots had wotied 

without a contract since April 
1984. . . 

United, the worids second larg- 
est aatine, after toe Soviet earner 
Aeroflot, goes to 139 destinations 
in- all 50 American, states, Canada , 
Mexico, Japan, Hong Kong, Ber- 
muda and the Bahamas. 

. f. AP,UPI,IHT) 

Thfe AaoocMd P>s 

Belgian Guard Faints While Awaiting Pope 

A member of the Royal Mffitaiy Academy fainted in Brussels white awmtmg Pope John Paul ITs 
arrival fnxnLuxanbourg, The pope began asix-day tour of Belgium Thursday, and on Friday he 
visited Antwerp, where be beard criticism erf church teaching on divorce, priestly celibacy and the 
role erf women in the church. He also went to Ypres, the site of a major Worid War I battle. 

By David Hoffman 

H 'askmgton Pet Service 

WASHINGTON — President 
Ronald Reagan's senior foreign po- 
licy adviseis have told him that 
Mikhail S. Gorbachev, toe Soviet 
leader, remains preoccupied with 
internal Soviet problems and is not 
ready to talk about meeting with 
Mr. Reagan, accor ding to adminis- 
tration officials. 

Secretary' °f State George P. 
Shultz and the national security ad- 
viser, Robert G McFarianc, re- 
ported to Mr. Reagan on Thursday 
on their six-hour conference Tues- 
day in Vienna with the Soviet for- 
eign minister. Andrei A. Gromvko. 
They also discussed Mr. Shultz's 
Middle East visit. 

They concluded from the meet- 
ing with Mr. Gromyko that Mr. 
Gorbachev was “not dealing with 
any foreign accounts,** a senior 
White House official said. 

Officials also said Thursday that 
a Reagan-Gorbachev meeting 
would not necessarily come around 
toe opening of the UN General 
Assembly session in September, or 
for a celebration of the 40th anni- 
versary of the founding of the Unit- 
ed Nations in October. 

Previously, senior White House 
officials had raised the possibility 
that Mr. Gorbachev would come to 
toe United. Nations and meet with 
toe president afterward. 

Mr. Reagan said May 10 in Lis- 
bon that it was “probable" that Mr. 
Gorbachev would come to the 
United Nations, although Mr. Rea- 
gan said there had been no confir- 
mation from Moscow. 

Mr. Reagan said that he bad ex- 
tended an invitation indicating that 
“if he was going to be here, the door 
was open for a meeting between 

In an interview this week, a se- 
nior White House official said of a 
Gorbachev visit; “I don't think it 
has to be within a UN type of thing. 
He coaid coax over to visit the UN 
and come back again” to see Mr. 

Terrorists May Threaten 
Paris Air Show ? IJ.S. Says 

% Richard Halloran 

New York Tima Service 

Embassy in Paris has warned the 
Commerce Department and Amer- 
ican companies planning exhibits 
at the Paris Air Show late this 
month to expea terrorist attacks. 

The embassy, in a message last 
month to the Commerce Depart- 
ment, said, “The threat level at the 
air show is rated as high.” The 
message said the severity of the 
threat was partly a result of the ease 
with which assailan ts “may gain 
entry and acco m plish their mis* 

In a message intended to be 

aerospace industries and the North 
Atlantic Treaty Organization. 

In September 1983, an explosion 
ripped through toe Marseille fitter- 
national Trade Fair, killing one 
man and injuring 25 persons. Re- 
sponsibility for the bombing was 
claimed by four groups, the embas- 
sy said. 

Last March, 10 armed attackers 
ottered the Lisbon International 
Trade Fair, incapacitated a police 
officer and killed an exhibitor 
vrtrile visitors war kept at bay. 

“What should be observed is 
how easy it was to accomplish the 
mission," the embassy’s message 

White House 

Larry Spcakes, repeated Thursday 
that Mr. Reagan's invitation was 
for Mr. Gorbachev to come to 
Washington, not to the United Na- 

“Any location other than the one 
in toe invitation originally extend- 
ed has not been addressed by this 
administration,” Mr. Speakes said. 
He added that the Russians 
“haven’t taken us up” on toe invita- 

Other officials have said tost So- 
viet officials did not raise toe issue 
of a visit in the Vienna session with 
Mr. Shultz and Mr. McFariane. 

Before toe Vienna meeting, some 

West European diplomats said they 
ved that Soviet officials were 


sidestepping toe question ct a 
meeting, because they sensed that 
Mr. Reagan wanted it more than 
they did. 

But White House officials said 

passed along to 90 exhibitors from 
rited States, mainty cornpa- 

(Continned oo Page 2, CoL 7) 

the United 
nies in the ntilitaiy and aerospace 
jndngt p c^ the embassy inriitrieri a 
long list of suggested security pre- 

The message also said that four 
prominent companies in toe U.S. 
military industry, Boeing Co., 
Hughes Aircraft Co., Lockheed 
Corp. and Norton® Coro., recent- 
ly were found to nave been on a 
target list assembled by the Red 
Amy Faction, the West German 
extremist group. The list surfaced 
during a police raid, the embassy’s 

Mystery Vault Found in Capone’s Prohibition Den 

Pan could play a spoiler's role in 
" 5 . The Guardian 

f . ; . , . 

p* Mr 

the town connate. 

newspaper said that SmnFdn now 
had tIc cppotpmty to pursue its 
aim (rf destabilizing toe .'govern- 
ment and administration of North- 
ern Ireland.” ■ 

; The Protestants’ lead in seats 
over toe Roman Catholics paral- 
leled their 2-1 majority in tbepepu- 
Iaticn of Northern Iidand. 

As expected, toe Official Union- 
ist Party, the mainstream majority 
Protestant grouping, was emerging 
with the greatest share of votes. 

Television conq>nterprqjections 
in toe province gave Sun Fan a 
total of 5? seat*: (AP, Raders) 

Are Qn in the US. 

• . . Rt turn • 

Fedoal Reserve Board lowered 
fending rate to tanks Friday . 
by half a pomelo 73 percent. 

Meatwhxfe, Citibank, the 
biggest U.S, commercial bank, 
'towered its prime .lending rare 
half a point w lG percent. ' 

Details, Page-7.*-; 7 

Bylanty Green 

Loo Angda Tima Service . 

CHICAGO- r r - Workers have 
discovered a -concrete vault be- 
lieved 10 have been built by A1 
Capone, the Prabibitibn-eia gang- 
ster, in ari : abandoned 1 0-story 
buflding that once was Capone s 
Chicago headquarters. 

Thicy have also- uncovered hid- 
den stairways in' toe bmkHng. in- 
dnding oDckadmg to-a spot in the 
basement near thc vanlL 

“1 fed HkePm on an archaeolog- 
ical; dig/’^aid Patricia 1 Porter, 
exficutivc^dittbiar of toe Sunbow 
Foundation, which now owns toe 

buil ding- -T.r.f 

Speculator -about what — if 
anything— toe vault holds ranges 
from booze to; bofe . 

. The structure, of crudely poured 
concrete;.'!* six feet wide, six feet 
high and about 125 Jcet long (two 
mettx s by two meters by 38 me- 
tersh It js under toe sidewalk in 
front of toe old. Lexington Hotel, 
on Michigan Avenue south of the 
loop : business district. The hotel 
was a 400-room brothel in the Ca- 
pone era.; 

It also has been 

One weU-known treasure hunter, 
the Internal Revenue Service, has 
already laid claim to whatever is 
inside. The IRS has placed an 
£800,000 lien on its contents to 
satisfy a payment of $201,347.68, 
phis interest, still owed by Ca- 
pone's estate ance his death in 

“They sent me this letter and 
then sent these two agents over. 
They must think there’s money in 
these,” Ms. Porter said. 

- She said that some construction 
experts who have examined the 
structure think it is solid, but others 

“We can find no structural rea- 
sons for this thing being there,” she 

;ted that 

eleven an 

Before anyone tries to break into 
the vault, she said, X-rays trill be 
used to try to determine what, if 
anything, is «nd pinpoint 

where it is. 

“I was thinking bodies more 
than anything else at first,” toe 
said. “But what Tm hearing from 
ceps and relatives of cops that used 
to bang around here, there could 
potentially be money or gold-" 
“The cops tefl us that Capone in 
toe *30s brought in immigrants to 
dig tnnnds 10 try to link the hold 

es of 

A1 Capone 

19 with the city's underground 
tem of railroad tunnels,’* she ; 
ed, “and that he did link up ... and 
then sent them har-V to Italy.” 

Railroad tnnnglc formed an 
elaborate network under Chicago’s 
central business district and were 
once used to merc coal to furnaces 
of downtown offices and stores. 
Later, steam pipes were laid 
through them. Now they are being 

converted to house networks of fi- 
ber-optic cables. 

Ms. Porter said she believes that 
the tuzmds also were used to trans- 
port bootleg liquor during Prohibi- 
tion in the late 1920s and early 
1930s, and as escape routes. They 
also could have provided Capone 
with underground routes to city 
ball and other key city offices. 

“Old-timers claim Capone could 
empty out toe hotel in 15 urinates 
without anybody ever going into 
the streets, 4 toe said. 

Capone and yellowing 
files report a number of 

Ms. Porter, said sewer workers 
told her that in the past they had 
found gold coins and a diamond- 
and-sapphire stickpin m a sewer 
under the buil ding . 

The hotel huflt in 1891, housed 
visitors to the 1893 World’s Fair. 
Capone took over the turreted 
building with its distinctive basks 
of bay windows in 1928. 

Oneoitire floor was reserved for 
Him, and his mistress lived in the 
.quanrrs directly above. 

The Sunbow Foundation plans 
to rehabilitate toe hotel training 
low-income women to be the con- 
struction workers. 

tained^y the Armed Forces Jour- 
nal a monthly magazine circulat- 
ing in the military industry. An 

article on the threat in Pans win 
appear in its June issue, an advance 
copy of which was made available. 

The Paris Air Show, which is 
held every other year, is the biggest 
exhibition of its end and a center- 
piece for makers of aircraft, avia- 
tion equipment, communications 
apparatus and aerial weapons to 
display their wares. 

The show covers a vast area at 
the Le Bourget airport just outside 
Paris and is scheduled to run from 
May 30 to June 9. Mine ihfln 
700,000 people, including promi- 
nent government officials and busi- 
ness executives, are expected to at- 
tend toe show. 

There are to be about 1,000 ex- 
hibitors from 32 countries in addi- 
tion to toe United States. French 
police are responsible for tbe secu- 
rity of the perimeter of toe show 
but each exhibitor is responsible 
for security within its exhioii area. 

- Hie embassy's message warned 
that certain terrorist groups, nota- 
bly toe Red Army Faction, Direct 
Action, a group beBeved to be 
based in France, Fighting Commu- 
nist Cdls, a Belgian group, and toe 
Portuguese FP-25. or Popular 
Forces of April 25. have been “out- 
spokenly apposed” to what they 
called “Western imperialism," toe 



BAD ART — It may be art, but is it awful? That* s the 
question for a pair of Canatfian collectors. Page 6. 

■ Ghataans are divided in their feebng about tbe returnees expelled 
by Nigeria. Page 2. 

I A U-S- House committee 

with tbe plan passed by the Senate. 

a budget that conflicts 

Page 3. 

■ Malaysia's leader, Mahathir Mohamad, is proving to be a forceful 
spokesman for toe “new” Third World. ** 


■ LTV Corp. will lake a $400-miJlion writeoff to reshape its steel 
unit Page 7. 

■ U.S. saving institutions may cease to exist in a few years, some- 
officials said. 7 


A special report examines toe economic outlook in France. 


Page 2 



Returnees Divide Ghanaians 

Disdain for Compatriots Is Mixed With Anger at N igeria 

By Sheila Rule Those returning have been called, among other 

A(V . _ -Vov Ycrk things, “lazy," “good for nothing” and traiiots. 

Gnana — Thousands of Ghanaians ex- “TTjey get no sympathy from me," said a Ghanaian 
peueammi Nigeria are coming home to a country that businessman in Accra. "They were warned not to go 
Koi two minds about their return. They face an again. But they wenL And I do not want my tax dollars 
a dsc ^ )e offering only the most fragile to help them out of their fix this time." 

“ay not have to leave again in search of But reports of chaos and violence on the part of the 
c© 3 ®? hfe. Nigerian authorities, including the killing of several 

. ^ hand, many Ghanaians who stayed Ghanaians trying to cross the border with B enin , have 

resent *be 300,000 or so compatriots who took tnrir resulted in protests and strongly worded editorials 

bcre - 

toward economic recovery. But their disdain for those 
rehtraing has been somewhat tempered by what they 
consider the in h u m ane treatment that the illegal work- 
ers have received at the hands of the 


At the same time, the manner in which Nigeria 
forced the journey home is being viewed by Western 
experts ana local officials here as another example of 
how nationalism and rivalries can overpower concepts 
or African unity and attempts at regional cooperation. 

In 1983, when Nigeria, amid an economic crisis, 
forced up to two million illegal workers to leave the 
country, the Ghanaian government eased the way for 

On Monday, under the watchful eye of dozens of 
local policemen, university students demonstrated 
outside the Nigerian High Commission, carrying plac- 
ards that characterized Nigeria as a disgrace to the 
spirit of African unity and comparing its government 
to that of South Africa in its treatment of blacks. 

Western and local analysts said the recent develop- 
ments appear to be a confirmation of the potitical 
facts of life in Africa and developing countries else- 
where, where gpod ndgfaborliness can come second to 
competition and real or imagined threats to a nation's 
primary interests. 

Some said that the Economic Community erf West 

its returning countrymen by waiving customs regula- African States, whose members indude Nigeria, Togo 

tions, paying expenses and sending Iheir compatriots 
home to welc oming villages. 

But this time, in what some said is a show of 
displeasure with those lured back to Nigeria, Ghana 
has made those returning pay duties on the items they 
bring in. 

The move appears to reflect the sentiment of the 
common man in Ghana, a West African nation of 
more than 12 million people that has long held the 
reputation of being one of the continent's most hospi- 
table countries. 

Outside makeshift reception centers in this capital 
and at the sandy Atlantic bonder town of Afiao. 
Ghanaians watching their poor and disheveled com- 
patriots returning in overburdened vehicles have spo- 
ken with anger and bitterness about their departure 
for Nigeria months and years earlier. Then, the ob- 
servers said. Ghana needed manpower to dig itself out 
of an economic morass. 

and Ghana, has been further eroded politically as a 
result of the recent expulsion, as it was in the forced 
exodus of 1983. 

Com petition between Ghana and Nigeria is nothing 
new. Ghana, which in 1957 became blade Africa's first 
independent state, once enjoyed one of the highest 
per-capita incomes on the continent and provided 
employment for many Ni gerians and other Africans. 

But in 1969, with Ghana in the throes of economic 
problems, the immigrants were expelled by Prime 
Minister Kofi A. Busia in a move that ran counter to 
the pan-African ideals of Kwame Nkrumah, Ghana's 
first leader and the acknowledged father of African 

Nigeria expelled workers in 1983 and again last 
week, when 700,000 were told to obtain residence 
permits or leave. Of these, up to 300,000 were from 
Ghana, and an additional 100,000 were from Niger. 
Most of the rest were from Chad and Cameroon. 

4 * 




Greece Bars UJL Ship From Refueling; 


here as“unprccedmt^'' Tire shq> was compellal fo sail tobami; 

Tt ?Gne£ R^n&ustry offi cial said Thursday JU/dwSE 

place last wedeend. He said that Greecedid not rake part mtteeracis»,^ s j des 

m line with its policy tipt to participate in NATO Relative 

vili rc- 


Western nations : 


Turkey over the confhi 

duoic iu . . 

what Athens sees as a policy of favonnsm 
irring territorial of the two co untri e s m tnc 



W e’ve told you about his personal quali- 

We've told you he’s handsome, macho and 
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Nigerian police face demonstrating Ghanaian immigrants on a road near the Lagos airport 

Islamic Jihad Is Said to Threaten U.S. Diplomats 

The Associated Press 

BEIRUT — An anonymous tele- 
phone caller claiming to represent 
the shadowy Islamic Jihad group 
warned Friday that the extremists, 
who have been linked to Iran, plan 
a major attack against UR diplo- 

The warning, telephoned to a 
French news agency in Beirut, 
came the day after President Ron- 
ald Reagan's administration de- 
clared that it would not negotiate 
with the fundamentalist Shiite 
Moslem group fra- the release of 
Americans kidnapped in Lebanon. 

“The American government 
should await the largest military 
operation it has ever known," the 
anonymous caller said. “The orga- 
nization has been preparing for this 
surprise for a long time. The refusal 
of our demands will mean hell for 
its diplomats across the world." 

There was no means of confirm- 
ing the authenticity of the message. 

In statements published Thurs- 
day in Beirut newspapers, Islamic 
Jihad issued what was called a “fi- 

nal warning" of “catastrophic con- 
sequences” for at least four Ameri- 
cans and two Frenchmen held 
hostage if Washington and Paris do 
not pressure Kuwait to free 17 per- 
sons. The 17 have been convicted 
of carrying out bombing attacks on 
the UJS. and French embassies in 
Kuwait in 1983. 

■ UJS. Refuses Demands 

Earlier, David B. Oitaway of The 
Washington Post reported from 

The United States has said that it 
will not be intimidated by threats 
from Islamic J ihad 

The fundamentalist group said it 
would “terrorize America and 
France forever" if its demands 
were not met, prompting White 
House officials to issue a declara- 
tion Thursday that such threats 
would not be allowed “to compro- 
mise our fundamental policies and 

The White House also rebutted 
charges of inaction from the fam- 
ilies of the kidnapped Americans, 
saying that the United States was 

determined to obtain their release 
and that the issue remained “of the 
highest priority." 

“We believe that we are present- 
ly following the best-designed 
course to obtain this result in a 
quiet, nonpublic mann er." accord- 
ing to the White House. 

At a press conference, Peggy 
Say. sister of Terry Anderson, the 
kidnapped Associated Press bu- 
reau chief in Beirut, said she felt 
that the situation had come to “the 
crisis poinL" 

The statement' issued by Islamic 

bead of Catholic Relief Services in 
Lebanon, and the Reverend Benja- 
min Weir, a Presbyterian minister. 
The group also c laims to be holding 
two French diplomats, Marcel 
Fontaine and Marcel Carton. 

The While House spokesman, 
Larry Speakes, said that the U.S. 
govemment had no intention of 
entering into negotiations with Is- 
lamic Jihad. 

Relatives of three hostages met 
Thursday with Mr. Jackson to dis- 
cuss new approaches to seeking 
their release. At a joint press con- 

HutNATO sources said that the alliance had mf cytnedtl^ Gr^k N a vy 
a long rime ago of its exercises and that it had gained approval tor uk 
refueling visit They said the Green Rover, a British merchant vesselwim 
a civilian crew, was turned away at the Suda Bay base on Crete, wmcnis 
jointly, operated by Greek and U.S. forces. The ship was mkms W 

exercises in the Mediterranean. Its mission was to pick up fuel to supply 
the other ships. " 3snb- 

Tehran Traffic Jam Is Seen as Protest ^ 

TEHRAN (Reuters) — Traffic was snarled in the capital Friday after 
former Prime Minister Shahpur Bakhdar issued a clandestine radio call 
for anti-government protests. £ bv 24 

There were no slogans or posters, but many drivers honked their horns, K, , 

drove very slowly and earned bouquets of flowers in their cars. Some 
residents said that there appeared to be little doubt that many 
were responding to the call by Mr. Bakhtiac, who lives in Paris. A i 
protest was staged in February 1983. 

Those in the traffic bottleneck appeared to be from Tehran's middle 
clas s Ayatollah RuhdQah Khomeini and the Iranian government have 
their strongest support among the poorer people from the southern 
suburbs. ' 

Sudanese Islamic Courts Abolished ; 

CAIRO (AP) — Sudan’s ruling military council on Friday formally 
abolished special criminal courts set up under former President Gaafar 
Nimeiri to apply Islamic punishments, the Middle East News Agency^, 
said. -r 

In a dispatch from Khartoum, the news agency said that the council 
also was reviving the previous system of criminal courts, which passed 
verdicts based on a criminal code drawn largely from European legal 

Soon after Major General Nimeiri introduced Sharia, or Islamic law, in 
Sudan in September 1983, be set up a series of courts to apply the 
punishments that Shari a prescribes. In two years, the courts sentenced 
scores of drinkers to be Cogged and ordered hands amputated from more 
than 300 thieves. Under pressure from international opinion. General 
Nimeiri froze the trib unals ' activities early this year but never formally 
abolished them. General Nimeiri was desposed in a coup on April 6. - 

North, South Korea Fail in Talks 

PANMUNJOM, North Korea (Reuters) — North and Sooth Korea 
Tailed to narrow their differences when they resumed trade talks at the 
border village of Panmunjom on Friday after a six-mouth break. ' y. 

No substantial progress was made in two hours of discussions l&r 
seven-member im™ from each country, dimming prospects that they 
might begin economic cooperation. They agreed to meet again only on 
June 20. 

The chief South Korean delegate, Kim KI Hwan, said that North 
Korea's attitude had been “conqrfetdy different and cootradictoiy” from 
that at the first session. “I do not understand the sudden chan; 
added. The first session in November raised hopes that the two . 
might put their differences and work together in some areas. 

me statement issued by Islamic their release. At a joint press con- T|T n i nn • a ll , i tji - 

Jihad was addressed to the families ference, the civil rights activist said cliCSR iVCCDS JL 9D6 HI AllfiffCu f lot 

>1 .. lm.u. ii» i i » _i I _ * a 

of the hostages, to the Reverend 
Jesse L Jackson, who obtained the 
release of a captured U.S. naval 
officer in Syria last year, and to 
“the international public, namely 
the American people ” 

Pictures that accompanied the 
message and were published in Bei- 
rut newspapers included four of the 
five Americans — Mr. Anderson; 
William Buckley, a political officer 
at the U.S. Embassy in Beirut; the 
Reverend Lawrence Martin Jenco, 

be was prepared to go to Lebanon, 
or Kuwait, to try to gain the hos- 
tages' release “if there is any rea- 
sonable chance to have an impact" 
[Robert B. Oakley, head of the 
State Department Office for Coun- 
terterrorism, said dial the Reagan 
administration stands “willing and 
happy to support any reasonable 
effort" by Mr. Jackson to win the 
release of Americans, The Associ- 
ated Press reported from Washing- 
ton on Thursday night] 

Bonn’s Farm-Price Veto 
Embroils EC in Dispute 


BRUSSELS — The Eure 
Community became embroOc 

new political dispute Friday fol- 
lowing West Germany's refusal 
Thursday to accept cuts in cereal 
prices, diplomats said. 

The diplomats said the new dis- 
pute. over Bom’s use of a veto 
threat had ruined elaborate plans 
to reform the 10-nation group's 
Common Agricultural Policy and 
head off growing criticism from 
Washington over export subsidies. 

In addition, the controversy 
arises just as Washington has an- 
nounced a plan to subsidize Ameri- 
can agricultural exports, in pan to 
challenge the EC subsidy system. 
The new dispute wifi make it diffi- 
cult for EC members to draw to- 
gether in defense, according to the 
diplomats at the community's 
Brussels headquarters. 

The controversy arose after 
Bonn, threatening a veto, forced 
EC farm ministers to pul aside a 
key decision by the European 
Commission, [he EC's executive 
body, to cut cereal prices. The price 
cuts were in line with rules for 
curbing overproduction that bad 
been agreed on two years ago, after 
months of painstakingly slow nego- 

The action means that the minis- 

ters will have to try again to reach 
agreement on cereal prices June 1 1. 

The agreement on a package 
without cereals is expected by EC 
officials to cost an extra 270 million 
European Currency Units (S202 

This makes it virtually certain 
that the community will exceed its 
farm budget of just under 20 billion 
ECUs, creating conditions for yet 
another dispute just in time for 
next month's EC summit in Milan, 
the diplomats noted. 

The ministers did agree on new 
prices for other products during 
their negotiations, which should 
have been completed by April 1. 

At the center of the controversy 
is the use of the veto power — 
known as the “Luxembourg Com- 
promise" — for the first time by the 
West German agricultural minis- 
ter. Ignaz Kiechle. Bonn, paradoxi- 
cally, says it wants to abolish that 
veto ana move toward majority 

Mr. Kiechle, who on Friday de- 
scribed his move as a “partial 
veto," shelved plans to cut prices to 
cereal farmers by 1.8 parent. The 
EC Commission originally pro- 
posed cuts of 3.6 percenL 

West German officials said that 
Mr. Kiechle had only invoked a 
formula that obliges ministers Lo 

WARSAW (Reuters) — Lecih Walesa, the leader of Poland's outlawed 
Solidarity labor union, refused Friday to give police tape recordings ofa 
talk be had with a convicted murderer who alleged there was plot to IriD 


Mr. Walesa and two aides were questioned by the Gdansk police, who 
have charged the man. Jazef Szczepanski, with being in contact with an 
illegal organization- Mr. Szczcpanski, 34, who was on parole from prisoqf 
met Mr. Walesa cm May 9 ana -said that he had been approaches by aa 
unidentified man who oueredhim money and a passport to IdU the labor 

The police interviewed him far 90 mmnteB Mr. Walesa said, adding 
that be declined to turn over either the cassette tapes or the original of a 
hand-written sta t emen t in which Mr. Szczepanski outlined the alleged 

jjven the authorities copies of the statement just after Mr. 

iski was arrested May 1 L 

For the Record 


At least 36 Japanese trances were ! 
ground wheHagas explosion ripped through a coalmine in’ 
island of Hokkaido. 

Two crewmen of a Chinese torpedo boat who 

mutiny that jeft six persons dead off Sooth Korea in 

Igrow Kiechle 


ion the 
tty staged 'a 
have been 

executed in China, Taiwan's Central News Agency reported Friday. (AP) 
Bofli the Japanese and Soviet governments kept sfiert Friday about a 
report of a Soviet plane disappearing from Japanese military radar on 
Thursday. (AP) 

A Sri fjrnkan mUmt entrusted with protecting 40 Tamil civilians 
opened fire on them, killing six and wounding 16 bobic his commanding 
officer shot and killed him, a Defense Mimstiy source said Friday in 
Colombo. (UPJ) 

British health officials said that tests had ruled out an air-condrhoniHg 
nnit at the Stafford District General Hospital as the primary cause of an/* 
outbreak of Legionnaires’ disease^ On Friday, the death tou dropped to 
36 from 37 after tests showed one victim did not have the bacteria. (AP) 

continue debate when a member 
state says its vital national interest 
is concerned. 

The first casualty of the ECs 
decision could be its trading rela- 
tionship with the United States, the 
diplomats noted. Washington ac- 
cuses the 10-nation bloc of using 
the subsidies to boost exports. 

Another victim of Bonn's stand 
is likely to be farther tension in 
French-West German ties, already 
strained over disagreements at the 
Bonn economic summit two weeks 

France has been eager to bring 
farm prices more into line with low- 
er world market prices and counter 
UR demands to include farm ex- 
ports in a new round of trade talks. 

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By Axel Krause 

InienuliomJ Herald Tribune 

PARIS — Defense ministers or 
five West European countries 
agreed Friday on the weight and 
engine requirements for a new Eu- 
ropean combat plane to be built in 
the 1990s. 

The agreement ended one of sev- 
eral disputes between French and 
British aerospace companies. 

Other important disputes re- 
mained unresolved, however, in- 
cluding the sharing of responsibil- 
ity for design, financing and 
production, according to French 
and British military officials. 

Ministers from West Germany. 
Italy and Spain also attended Fri- 
day's meeting. 

The European Fighter Aircraft 
project would be the largest such 
European venture since the Torna- 
do fighter-bomber program was es- 
tablished by Britain. West Germa- 
ny and Italy in 1969. 

The project would involve build- 
ing a minim um of 1.000 planes, 
which could generate about S30 bil- 

lion in orders. The first deliveries 
are planned for 1995. 

The ministers set the weight of 
the new fighter, about 10.45 short 
ions (9 j metric tons) with a per- 
missible excess weight of 550 
pounds (250 kilograms) for arma- 
ments and electronic equipment 
Britain had argued for a slightly 

^ ^ °- - 3 Sh0rt billion worth o^goods to the Unit- 
tons without additional equipment ^ Slale&i STunited States 

The projected thrust of the new exported about Sl-5 billion worth 

U.S. to Give 
India Hij 

(Continued bum Page 1) 
assurances that the technology 
would not be used to make nudear 
weapons or help any other nation 
make such weapons. 

India was understood to have 
been reluctant to make extensive 
assurances, on the ground that they 
might compromise its indepen- 

There were no details Friday on - 

ihe precise language that had over- mT tt a n • 

SSg iVeu? U.s. Concern on summit 

- ready to tike the initiative,** the 
senior official said. “They have not 
put progress on arms control and 
the UR-Soviet relationship at the 
top of their fist of priorities.” 

. “Our only logical response is one 
of patience,” the official said. •' 
The official also said the Rus- 
sians were “not ready for signifi- 
cant changes" in offensive nudear 
missiles, the area of weapons fc-j 
doction that the United States h im 
em phasized in Geneva. ^ 

The Russians have poshed in- 
stead for restraints on space weap- 
ons and on Mr. Reagan’s plan to 
research the use of spacs-based sys- 
tems to destroy enemy nuclear mis- 
siles, known as the Strategic De- 

. This official said, however, that 
the Russians wanted to “give a 
pubfie perception of being en- 
gaged” with the United Stares on 

He said mis explained the six- 
hour session in Vienna, winch US. 
officials have said was devoted en- 
tirdy to restatements of previons 

approved by the United States and 
that it remained for India to ap- 
prove h. 

The accord was signed by Ro- 
mesh Bhandari, the Indian foreign 
secretary, and Harry G. Barnes Jt. 
the U.S. ambassador to India, al 
the end of a three-day visit to India 
by Mr. BaJdrige. 

President Reagan and Prime 
Minister Rajiv Gandhi were ex- 
pected to make a formal ceremony 
of the agreement when Mr. Gandhi 
visits Washington in mid-June. 

UJS. officials have said that the 
high-technology agreement mil 
alio have an extremely important 
military application and that the 
tranter of certain kinds of conmut- 
ers and other equipment could help 
India greatly increase its military 

India already has an extensive 
high-technology industry, produc- 
ing its own computers and sophisti- 
cated machinery. But ance taking 
office after his mother’s assassina- 
tion last OcL 31, Mr. Gandhi has 
eased regulations on the importing 
of computers and electronic equip- 
ment from overseas. 

(Gonfianed from Page 1) 
their view was that Mr. Gorbachev 
was not ready to deal with major 
foreign policy matters. 

A senior official said, “They 
have not been able to come to a 
decision to accept the president’s 
invitation.” He added that the Vi- 
enna meeting had left a “flavor of 
their interest being more domestic- 
oriented for the time being, which 
is unfortunate for us. We’re ready 
to engage on foreign policy." 

Mr. Shultz and Mr. McFariane 
indicated to Mr. Reagan their as- 
sessment that Mr. Gorbachev’s fo- 
cus on internal Soviet matters, such 
as the next five-war plan and his 
effort to consolidate his power, 
have also led to the c urren t stand- 
off at the nuclear arms reduction 
talks in Geneva. 

The arms negotiations, now in 
recess after little apparent progress 
in six weeks erf talks, are to resume 
May 30. 

“It’s not just Vienna, but also- 
wfaaf s happened in Geneva that 
it they, realty are not 

dMSKiSSS FarmFUm Seems Aimed at EC 

lasi year, India exported about S2Jj - 

u . (Continued from Page I) 

engine also was set, but was not 
disclosed. The five governments 
agreed that a newly designed en- 
gine would be required for ihe pro- 
duction versions of the plane. 

Defense Minister Charles Hernu 
of France suggested to other minis- 
ters that the design office for the 
fuselage, wings and engine be lo- 
cated in the Paris region, a French 
official said. British Aerospace 
PLC. which like Dassauh-Breguet 
is slate-controlled, has 'msi<r«T on 
equal sharing of the work in the 

“Mr. Hernu's suggestion was 
raised, but not resolved." a British 
Defense Ministry of ficial said. 

to India. 

Mr. Baktrige said be 
that trade would increase 
in the next several years. 

At a news conference, however, 
he acknowledged that joint busi- 
ness ventures might be adversely 
affected if there were no settlement 
in the lawsuit by India against the 
Union Carbide Corp. that all par- 
ties regarded as equitable. 

India is suing Union Carbide for 
negligence as a result of a leak of 
tone gas last December al a pesti- 
cide plant in Bhopal owned by the 
company's Indian subsidiary. The 
leak led to the deaths of an estimat- 
ed 2^00 people. 

three years has frequently tried to 
persuade the Common Market to 
halt its undersetting of the United 
Stales in foreign markers 
Recently, Mr. Block, in hearings 
before congressional agriculture 
committees, has threatened to fain* 
“strong action” if an agreement 
could not be reached soon. 

Two years ago, in what he called 
“a shot across the bow ” Mr. Block 
sold surplus wheat and flour to 
Egypt at reduced prices, taking 
away one of France’s major cus- 
tomers. But Last year the French 
recaptured some of thismarket : 

Mr. Block said ring dgmiW of the 
program would be ready by June 1. 

In general under the plain; a UA 
expOTtor trying to expand sales to a 

targeted country would be given 
commodities fttrfn the govern-- 
mart’s increasing stocks of grain 
and daily products that it has taken 
_as payment for price-support loans. 
The exporter would be able, with 

fltese free oonmaodities, to off er his 

foreign buyer a lower price on the 

- But export analysts doubt that 
the United States, even with this.. 

- leverage, can get back many <rf ittir 
formermaikets very soon. The 
taris still too high in idationJo 
many currencies, making- UJS. ex- 
ports too costly. 

; In addition, world grain and cot- 
ton production this year was again 
expected to teach a record bWT 

And several old UJS. cnstconets are 
now providtogfor themselves. 



"m • 



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Amtrak Predictions 
Of Demise Premature 

The Reagan adnmristtaikm 
lias best trying to tilf the half- 
bfltioo-doifo annual subsidy to 
Amtrak, a. move that is cdnsd-. 
end likely to lead. 10 the. cof- 
iapseof the national passenger 
railroad: Bor the Repoblican- 
cantroUed Senate lias, voted 53- 
41 tokeqj AmtriJc^cang. . . 

Senator Alien Specter, a 
Pennsylvania Repobncan, add 
.the vote was “re c o gnition . , that 
wdf are of the country." He sad 
its abolition would bring intol- 
erable congestion of highways 
and air routes along the Boston- 
New Yori'Washmgton corri- 
dor and leave the Uni ted Stale s 
as the only pu y t r ind us trial 
country without a passenger 

The NewYozkTunes reports 
that Amtrafc’sannnal subsidy is 
a separate item in the federal 
budget, tniEkelessvisble subsi- 
dies Jor aviation,- bases and 
highways. . 

“A coafflun of xaQ woxkezs, 
members of Congress, regular 
riders and train Stiffs appears 
ro be stKxassfuIty ganging upon 
the administration to save the 
railroad," the newspaper said.' 

Short Takes 

The annul spring hat for 

gnwntfT law interns is on. This 
year, prominent law- firms are 
offering as much as .$700 a 
week, phis parties, spots and 
cultural events to the 2,000 -or 
so students who rank in the top 
third of their dass at about 30 
of die highest-ranking UJS. law 
schools. Mostinternships lead 
to offers of permanent jobs 00 

Lotteries are run by 18 states* 
and triDsJisve now been jmln*- 
dneed in Congress for a nation- 
al lottery. Estimates of how 
much revenue this could raise 
start at $10 bSlian a year. Many 
religious groups are opposed, as 
are states that have their own 
lotteries and. are not anxious for 
competition, lotteries axe “no 
panacea,” said Lynn' Nelson, 
executive director of the Penn- 
sylvanm State Lottery, winch 
nets $500 mOfion a year. 

_ ..... 

*Mt**KUttdrrta.*+mmmdl ' 

RAONG MAHMAN —Don Ohm, of San Francisco, 
wins America’s first l^KKMnile (L,6004akKn^er) race, 
m Flnstting Meadow Park, New York, 00 Thursday. 

Experts at- die Smrthsocttti 
Institution in Watirimdon are 

reconditioning the Wright 
brothers? first airplane, an un- 
gainly co atrapti ai that trem- 
Mad into the air on Dec. 17,. 
19CB, at IGoy Hawk, North 
for the worid's first 
Not everybody 
was nappy with the restoration 
project- A museum official said, 
“The purists reacted as if we 
had-taua the Shroud of Turin 
and sentiilo the deano&” 

Shorter Takes .The 
Court has decided that a" 
fpwW, or mnhile bonie, unless 
it is up to iitiHrian and 

its wheds ha ve b een.iemoved,is 
a vdnde, not a dwrilmg, and 
thus morereadOy subject to po- 
fice search wxtiiottt a warrant. 
. .. The .falsest priced housing, 
in New Yodt is the Essex House 
an Central Park South, where 
the average condominium 
apartment sells for $906 a 
square foot - (about $9,750 a 
square meter). . . A federal sur- 
.vey says that of the estimated 
1.8 million Americans 
abroad who are not 
by the U.S. government," about 

28 percent voted in the 1984 
general election, 151 from 26 
percent in 1980. \ . . 

In Trivial Pursuit 
Of Ronald Reagan 

-Paul Slansky, a New York 
writer who describes hhnsdf as 
a voracious reader of e v er y thing 
about President Ronald Rea- 
gan, devised a 101-qnestion 
trivia contest about the presi- 
dent vdiich he sent to 300 mem- 
bers of the media. Sample ques- 
tion: “How did President 
Reagan introduce Liberian 
Head of State Samuel Doe at a 

a) ‘John Doe’ b) 
ore) ‘Chairman Moe?" 

The top score was 91 correct 
answers. The Washington Post 
reports, and the prize was a vid- 
eotape of the president writing 
for lus cue to toss the coin for a 
Super Bowl game — a dubious 
award for duteous knowledge. 
Oh, yes, the answer to the sam- 
ple question was (c) 


House Panel Approves Budget 
Couflicting With Senate Plan 

By Jonathan Fucrbringer 

New York Tunes Serrtcr 

Budget Committee has approved a 
1986 budget plan that, if adopted 
by the House, would create a major 
confrontation with the Senate and 
the Reagan administration over the 
uuBtary budget and over cost-of- 
living increases for Social Security. 

The committee’s Democratic 
, majority, after agreeing to the plan 

earikr tins week, pushed h through 
the co mmitt ee ana on to the House 
on Thursday. The vote was 21-12, 
with, one Republican, Represen ta- 
tive W. Henson Moore of Louisi- 
■ ana, joining the Democxals. ” 

Unlike the Senates resolution, 
the House. Bud get Committee plan 
would give a full cost-of-living in- 
crease to Social Security recipients 

and others who get federal pen- 
sions and benefits. 

. The plan would freeze the mili- 
tary budget at its 1985 level, with- 
out even the increase for inflation 
that the Senate allowed. 

On the domestic side, the House 
plan would cut spending about 
one-third less than the Senate and 
would gforwnat^ ruit y one program, 
revenue-sharing, of the 12 the Sen- 
ate would kilL 

The Budget Committee ap- 
proved the pan after nxking a bi- 
partisan compromise in a closed 
session Wednesday night — its first 

closed debate in its 10 yean of 
existence — and again briefly 

Under the compromise that 
failed, the Democrats would have 
increased estimates of military 
spending in 1986 in exchange for 
Republican support for the overall 
package. In the end, the Democrats 
would not gp far enough for the 
Republicans, and vice versa.- 
Even while the proposal was still 
pending in the committee, the fust 
sounds of a House-Senate confron- 
tation in & conference committee 
were heard. The Senate mqority 
leader, Robert J. Dole of Kansas, 
tore into the Democrats, saying, 
“They don’t want to really cm the 

The Democrats, he said, are 

seeking to “mutilate’ the Pentagon 
budget by not allowing the increase 
for inflation. He charged, too, that 
“a lot of the savings are not reaL” 
The House Budget Committee 
would cut the projected deficit 
. $56 billion in 1986 and by $259 
billion over three years, (ess than 
the $295 billion of savings ap- 
proved by the Senate. ' 

Earlier Thursday the House 
speaker, Thomas P. O’Neill Jr., a 
Democrat of Massachusetts, said 

he planned to take up the budget 
on the House floor Wednesday and 
finish it before the Memorial Day 
recess, at the end of next week. 

plan ’ 
by $5 

U.S. Broadcast Aide Resigns; 
Omrges Political Interference 

The Associated Pros 

Pfister has resigned as president erf 
the Corporation for Public Broad- 
casting, sayingthal politics is inter- 
fering in the affairs of the organiza- 

■ Mr. Pfister said the event that 
triggered Ids resignation was the 
board’s vote earner this -week to 
withdraw support for a trade mis- 
sioo to the Soviet Union in Srotem- 
ber by rgjresentatives of the Public 
Broadcasting Service, which re- 
ceives funds from the corporation. 

He said he believed that the 
board’s against the trip 

reflected an infiltration of politics 
that was threa tening the indepen- 
dence of the corporation. 

The board took an action . . . 

that is an enrararfimen t on that 

independence,” he said Friday on 
National Public Radio fro m San 
Francisco, where the corporation is 
bolding a board meeting 

Mr. Pfister submitted his resig- 
nation on Thursday, a day after the 
6-4 vote to withdraw support from 
the trip to the Soviet Union. The 
trip hftH been derigneri tO 

an exchange of TV shows. 

The vote had not been on the 
agenda. The motion to withdraw 
support was offered by the board 

a routine report on intematioo^ 

Although the issue of the trade 
delegation was tbe final straw for 
Mr. Pfister, the overall role of tbe 
corporation as a vehicle of Reagan 
administration pofides was a cen- 
tral part of the debate. 

President Ronald Reagan has 
postponed submitting Ins sweeping 
tax revision plan to Congress until 
May 28 in the hope that by then the 
House will have completed floor 
action on the budget. 

House Democratic leaders said 
they expected the plan to be ap- 
proved on the floor, possibly with 
the addition of revenue from a 
minimum tax on corporations, 
which is expected to be proposed as 
a floor amendment to the budget 

Representative William H. Gray 
3d. a Democrat of Pennsylvania 

and chair man of tbe House com- 
mittee, uttered a tongue-in-cheek 
chum of a bipartisan victory. The 
Rqmbli can-con troDcd Senate ap-. 
proved its plan last week by rare] 
vote, with one Democrat switching 
over and the tie-breaking vote be- 
ing cast by Vice President George 

“If they can claim victory with 
one Democrat, 1 am certainly going 
to claim victory with one Republi- 
can because they are harder to get," 
Mr. Gray said. 

■ Reagan Firm on MUitaiy Got 

President Reagan has warned 
Congress that he will abandon the 
compromise he agreed to last week 
on military spending if the House 
tries to cot it any further. United 
Press International reported. 

At a S6- million, fund-raising 
rffnner in Washington for House 
and Senate Republican candidates 
in 1986, Mr. Reagan told 4,000 par- 
ty members who had paid $1,500 a 
plate that he had already ‘‘compro- 
mised greatly” by agreeing to the 
Senate plan to freeze the Pentagon 
budget at last year’s levels, adjusted 
for inflation. 

'“Now, this was not an easy deci- 
sion,” he said. ‘There’s no question 
about it. This win temporanlyslow 
down our vitally needed defense 
buildup at a tune when the Soviet 
Union is pouring un p recedented 
amounts of resources into their of- 
fensive arsenals.” 

Having been told by Senate Re- 
publican leaders that he could 
crane back for more money if T 
fed our national security is imper- 
iled.” Mr. Reagan warned the 
Democratic-con trolled House, “If 
the Congress persists in making 
further reductions which could 
jeopardize our negotiating position 
in Geneva, I may take them up on 
that offer.” 

: Mexican Police Are Said 

t»-f- iw**’ 



v- Hi: rid: . 

:«T' LV.ta 

f V--.F 

1 • *:wiki*s - By RobcrtJ McCartney • 

Washington Post Service _ 

MEXICO CITY — Hundreds of 
agents of Mexico’s two principal 
... national police forces who. were 
suspected of involvement in drug 
jxaffidcmg or other corrupt activi- 
ties haver resigned or been <fis- 
nrissed in recent weeks, according 
to Mexican officials and other re»- 
. able sources. 

*, More than 400 of the Federal 
Security Directorate’s estimated 
2,200 agents have left since the be- 
— T:^ 5 ‘ginning of ^ March, the sources said 
' ^ ' Thursday. The other force, the 

Federal Judicial Police, has lost 
several hundred agents, the sources 

;e Hundreds of 

. ’* J 3 S- 

htui ^ 

• v 

, , x _ 

*n-.KVP **1* 

i IS 

The government has declined to 
comment publicly . on how many 

eniccrn on 

> 1 # 

ty interior secretary, Jorge 
Dlea, said Thursday that the police 
‘agencies were undergoing “severe 
adjustments of an internal nature.” 
. He added: Tbe nation’s various 
■ jxcveotive arid judicial bodies are 
- waking to dan up and correct 
~ longstanding vices.”. 

The reported purge appears to 
constitute the government's most 
significant action to combat police 
.corruption fallowing recent revda- 
. s tionsthai some Mexican policeman 

■ >’ ’ V T!r* - had helped 10 protect narcotics 
•’ .dealers. 

Much of the corruption has 
... ..: Tcome toJight since a crackdown on 

the drug trade fallowing tbe abdac- 
l . tion and murder of a U.S. Drug 

. -V Enforcement A dminis t ra tion aggtt 

. . c In February in Guadalajara. 

-. The twin problems of d^ug traf- 
ficking and official corruption pose 
mqor challenges to Preadeat Mi- 
. sad de k Madrid, who has . made 
Tnoral renovation” a ceater^cce 
. . of his program. A variety of poUti- 
. 'cal observer have said comiptidn 


is entrenched and win be difficult 
to en&ale .. 

Sources in the US. Drug En- 
forcement Administration have 
characterized the directorate as 
Three of its senior 
; who recently lost thrirjobs 
were identified by a major drug 
dealer asioving been recipients of 
large bribes for protection, accord- 
ing to official sources and Mexican 
newspaper reports. ' • 

The three were top-ranking 
agents in the northern states of 
Coahmla, Nnevo Ledn and Baja 
California, where a trade thrives m 
t r«n p orting marijuana and co- 
caine to the United S tates . 

- The changes in tbe d ir ectorate 
have been made since a new direc- 
tor; Pablo Gohzilez, took charge in 
early March. The forma* director, 
Antonio Zanffla, resigned to run 
for Congress from the state of Hi- 

Fewer details were available 
about the ch an g es in the Federal 
Judicial Police, a branch of tbe na- 
tional attorney general’s office, but 
reliable officials and Mexican 
newspaper repartisaid that 700 va- 
cancies recently had opened up in 
the force because of anti-corrup- 
tion measures and normal turn- 
over. ' 

The government ^ also intends to 

- issue new identification documents 
to lay! enforcement officials after 
dozens of suspected narcotics traf- 
fickera, when arrested last month, 
were fraiadto:baye. police oedeo- 

■'* Official corruption has a long 
history in Mesoca Fifty-ax yearn 
of unmtecnqited rule by the Insti- 
tutional ReroEu ticoary Party has 
meant thatoo.oppositUm gronphig 
has eve? "thrown the raaals oat,” 
esceptin a Tew dries and towns. 


CHILDREN RESCUED — A Yirira CSty, California, poficeman rescues one of four 
children whose father, Patrick L« Jones, had threatened to IdU then. The police saved the 
drihken and arrested Mr. Jones afte* they fined tear gas into the house where the four 
were bang held. Mr. Jones made the threat after a dispute with Ins wife, the police said. 



. . By Joanne Omang 
Wahmgun Pest Same 
\ _ WASHINGTON — President 
J056 Nararietin Duarte of B Saka- 
dor said ne would seek to "human- 
ize the war” in his country by in- 
isisting that leftist rebels talk 
privately with him about ending 
. civilian casualties before he agrees 
to any more public negotiating ses- 


V - 


f: r • * 

* " Mr. Duarte; .bramniug a-nhte- 

* day visit to the Umted States, fold 
' President Ronald Reagan in a half- 

hour meeting Thursday that tbe 
'-$alvadcran armed- faces were un- 
■ J8er “ti^ht rate of engagemonr to 
v nrinimne civilian suffering, a se- 
nior Reagan administration official 


The Sflvadoran leader,, the offi- 
cial said, “is deeply r detepsuned to 
. see what he caxt'do to get die goer-', 
rjlias to cease, attacking the econo- 
my” and to “cease nsmg assass m a- 

' tion and terror agamst the tivflun 
populations as : weapeos in the 

U^. critics of lhe Duarte govern- 
metithave asserted that Salvadoran 
Army planes have bombed the dr 
vifian population fodterintinatriy, 
raring dtwpny of dwatlig , to dis* 
courage, arapon for. the guerrillas 
tinow. He haldeded the assertion. 

Mr. Duane and.the id)ds met 
twice last yeSx to try to get peace 
“Iks going, but finite progress was 
made. The rebds have suggested 
that a fltiri meetipg beheld j Gne ID 
in El. Sdyada but Mr. Duarte 
counioCd with a proposal for pri- 
vate discussions - outside the couth 

ay... • 

. Gitiflem».Ungft -a leader of tbe. 
gnemlla£ political wag, said by 
tefep h oo e trom^ Mexko Oty that 
Mr. Duanehad not outiined a spe- 
cific- agenda and that Mr. Dmirte’s 


annmmeemmi Thursday was an 
effort to avoid a third public nego- 
tiating sesaon. 

.“We don’t want to have private 
talks as a substitute far talks that 
are agreed iqxm,”Mr.'Ungosaid. 

' After meeting with Secretary of 
State George P. Shultz, Mr. Duarte 
. said that Ins “democratic revofo- 
tion” requires a new approach to - 

“I can’t risk the people’s fahh by 
going to any meetiagjust to makea 
show ” Mr. Duarte said. 

The senior Reagan adnnmstra-- 
non official called Mr. Duarte’s 
visii “the opening of a new chapter 
in our relationship” aftff five years 
of joint anti-guerrilla warfare. 

successes.” in combat and in reduc- 
ing human limits vkdatica3s, the of- 
fioal said, so tbat ‘Hi’s posable" to 
give “much more , serious attention 
to someof the other probfcms" of 
tbeSalvadoran. economy. 

“There's absolutely no doubt 
that there’s been a. monnmaital 
change in the nature erf tbe situa- 
tion there," the official said. 

He added that the administra- 
tion would be “sym pathetic ” to 
Mr. Duarte’s expeaea requests for 
new economic and ndEtaiy aid, but 
that no decision had been made to 
request more funds in the current 

Mr. Reagan ridded Nicaragua 
for failing to follow Mr.. Duarte’s 
example m taTVmg its domes- 
tic insurgents, and rebuked Con- 
gress for failing to give as much 
support to administration policies 
inNicaragua as it has to his policy 
in El Salvador. 

Those who question our efforts 
in Central America should take 
note of the hea r twar m in g progress 
that President Duarte has made,” 
Mr. Reagan said. “We must have 
the courage to an. our friends 
in Central America.” 



r. Duarte said Friday tbat his 
itary forces may have captured 
a Nicaraguan ship bringing sup- 
plies to tire guerrillas in his country. 
The Assodated Press reported 
from New York. But he said that 
tbe report had not been confirmed. 

[“We have captured it last night 
and they are moving it 10 a port to 
check out what happened,” he said 
in a television appearance.] 

■ MSbuy Judge ERed 

Witnesses and officials said 
Thursday that suspected guerrillas 
bad assassinated a military court 
judge involved in the prosecution 
of political prisoners, United Press 
Inter national reported from San 

Three youths approached Judge 
Rodriro Aranjo as be was parking 
his car in front of tbe Catholic 
Asuncion College, and opened fire 
on him with pistols, court officials 
said. • 

Rebel Attack 



Compiled by Oar Staff From Dispaufus 

MANAGUA — Nicaraguan 
government troops repulsed an as- 
sault by rebels on the country’s 
most important Atlantic coastal 
city, tiffing 24 guerrillas, the De- 
fense Ministry said. 

The ministry said that several 
guerrillas were wounded in the 
dawn offensive Thursday on the 
dty of Bluefidds. The attack oc- 
curred in the southeastern pan of 
the dty, where tbe government is 
budding a new airstrip, the minis- 
try said. 

Troops of the leftist Sandinist 
government turned back the rebels 
before they reached the dty’s 
streets, according to military 
sources who spoke on condition of 

The Defense Ministry’s state- 
ment did not give government ca- 
sualties, but tbe sources said that 
five soldiers had been wounded. 

The sources said that about 200 
rebels of the Democratic Revolu- 
tionary Alliance, based in Costa 
Rica, about 90 voiles (140 kSouie- 
ters) to the south, had traveled to 
Bluefidds on barges and launched 
the attack. 

Tbe government-run Voice of 
Nicaragua’ radio, however, said 
that the insurgents were from tbe 
^Honduras-based Nicaraguan Dem- 
ocratic Force and that 22 rebels 
had been killed. 

Both groups received 
from the UB. government 
Congress cut off funds I 

Bluefidds, which is 17: 
east of Managua, is the capital of 
Zriaya province, with a population 
of 25,000 people. 

Attempts to reach Bluefidds by 
telephone were unsuccessful Com- 
mercial flights from Managua 10 
Bluefidds have been suspended 
rince Tuesday. 

Earlier, the army said in a state- 
meat that it had tilled 251 rebels in 
60 firefigbts and 24 ambushes while 
thwarting a guerrilla attempt early 
this month to seize enough territory 
to call fa diplomatic recognition 
fay the United States. 

But the radio erf the Nicaraguan 
Democratic Force said that its sol- 
diers had “pul out of action” 604 
Nicaraguan soldiers in the fighting.' 

There was no independent verifi- 
cation of either ebriffl (AP, DPI) 

■ Contadora Meeting Ends 

Diplomats from the Contadora 
group and other Central American 
countries failed Thursday to reach 
an agreement on a regional peace 
accord, but derided to meet again 
next month to discuss military is- 
sues. United Press International re- 
ported from Panama City. 

In a statement released after 
three days of private tapes, repre- 
sentatives of the four nations work- 
ing as the Contadora group — 
Mexico, Panama. Venezuela and 
Colombia — as well as Costa Rica, 
El Salvador, Guatemala, Honduras 
and Nicaragua said that tbe issues 
blocking the signing of a peace ac- 
cord had all been examined. 

A police 
bomb In- 
tended to 
destroy tbe 
touched off 
a fire that 
spread to 
row houses 

U.S. Officials Vow Aid 
After Philadelphia Fire 

The Assodated Press 

officials, pledging Friday to do 
“whatever it takes to rebuild tins 
area." toured the nuns of a neigh- 
borhood where 61 houses were 
burned after a police helicopter 
dropped a bomb on the headquar- 
ters of the group MOVE 

Eleven members of the group 
were killed and 270 people were left 

“It was a sad, terrifying situa- 
tion," said Senator John Heinz. 
“Nobody planned this disaster. 
Whether it is a volcano or an infer- 
no, this is a disaster and we have a 
duty to help 

In San Francisco, the U.S. attor- 
ney general Edwin Meese 3d, told 
a group of police officers that the 
police actions in Philadelphia were 
a “good example” for law enforce- 

Speaking to an annual assembly 
of the Cahfomia Police Officers 
Association, Mr. Meese commend- 
ed Mayor W. Wilson Goode of 
Philadelphia for the “very rational 
very reasonable way” he had han- 
dled the police attack on the 
MOVE headquarters Monday. . 

“The public has to know." Mr. 
Meese said, that “the situation that 
developed was caused by the crimi- 
nals, not the poUce." 

In Philadelphia, Mr. Heinz and 
Senator Alien Specter, both Penn- 
sylvania Republicans, toured the 
devastated area with Mr. Goode 
and the secretary of the U.S. De- 
partment of Housing and Urban 
Development, Samuel R. Pierce Jr. 

Mr. Heinz and Mr. Specter plan 
to introduce a resolution seeking $1 

million in immediate federal help 
for the homeless and then to ask for 
more later. 

Mr. Goode announced Thursday 
that the city would establish three 
funds totaling $7 million to aid the 

In an interview on the "CBS 
Morning News," Jerry Africa, de- 
scribed as minister of information 
fa MOVE said that officials could 
have waited for the children in the 
headquarters 10 leave, as they did 

ing you. who’s the killer?" he add- 



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l i 
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Page 4 



PtahlwfacJ With Thg Waw Vorfc T!m« amJTbTw-Wrc. Port 

SributlC ^ie Vienna Peace Treaty: Lessons for U.S. Negotiators 


Farmers in Need of Help 

The secretary of agriculture reports that the 
Kcagan a dminis tration will give American ex- 
porters $2 biHioa worth of government-owned 
suplus commodities to crack markets “stolen" 
Kooi mem by subsidized exports of other na- 
ppps* The secretary, John R_ Block, grants 

It 15 ^nr»t Ofwi .c; 

zation for Economic Cooperation and Devel- 
opment. The UN agency is a winner. The 
international, aid crowd admires it The U.S. 

it is ^not good policy” to interfere this way 
. We see here a touching ooun- 

with free trade, ns «« me a luummg exam- 
ple of the soiidtude the government can mus- 
ter for a constituency in distress. 

Unfortunately, this is not the worn way in 
wnich the system, is oper^ing these days. Cur- 
rently, in Rome, the United. States £s doing 
so mew hat less than it might to work out an 
international formula to keep alive an agency 

“ v mi i m MMij gwu WWU IV UCI£ 

wnnera m poor countries grow more food. 
That the fate erf an agency that helps the one 
8f°up of fanners should be hung up in a 
dispute over afew million dollars, while anoth- 
er group of farmers gets a new J2-biDion 
subsidy with the stroke of someone's pwi 
is amply insupportable. 

The Int e rn a t ional Fund for Agricultural 
Development, a small and (still) lean United 
Nations agency, was set up in 1977. Its special 
mandate was to serve the credit, production 
and marke t in g needs of small farmers. It 
brought the then-prosperous oil producers of 
the Organization of Petroleum Exporting 
Countries into a unique partnership of donors 
with the industrialized na tion * of the Organi- 

it So does the conservative Heritage Founds- 
don. It provides a good retain on investment, 
while helping poor farmers and the rural poor. 
It is attentive to policy reform — improving 
producer prices. It focuses cm the private sec- 
tor. At a moment of famine in Africa, where 
this agency does much of its work, its stress 
on local production is what dignity and eco- 
nomic effectiveness require. 

The dispute over its refinancing centers on 
how the burden should be shared between 
OPEC and OECD donors. It is a frazzling 
dispute. The OPEC parties are being difficult: 
They are poorer than they woe when the 
project began, and they are not working well 
together. The United States is in a hard-bar- 
gaining mood. It should be. But it should not 
be so much so that it loses sight of the point of 
the exercise: to keep the agency, which is 
already living from hand to mouth, not only 
alive bit healthy and growing. 

Wi thin the U.S. government, the matter 
seems caught in die bureaucracy. Bat if this 
agency goes down, the United States will be 
blamed, disproportionately and somewhat un- 
fairly, for the collapse. If it survives, it wQl 
be because of American leadership. 


Testing the Tax Proposals 

There is a great spate of news about Presi- 
dent Reagan's tax reform plan these days, 
except it is not news at alL It is trial balloons 
and speculation. Whaf is happening, and can it 
be taken seriously? The bewildered reader can 
try applying four tests to the reports. 

Test One: Does this plan represent genuine 
reform? The sensible comparison is with cur- 
rent law, not with the plan the Treasury pro- 
posed six months ago. It had failing s , like 
removing the deductibility of state and local 
taxes. But the original Treasury plan adhered 
to the worthy principle of taxing all forms of 
income evenly; it let the drips fall Iredy. 

That has been a practical weakness, and 
Treasury Secretary James Baker has toned 
down features that were political poison. He 
has, reportedly, reinstated some tax breaks on 
oil and gas drilling capital gyms and fringe 
benefits. He apparently has eased up on depre- 
dation allowances. He is said to have revived 
deductions for contributions and second- 
home mortgages. But what matters is that most 
of the reported segments of the president’s 
plan would eliminate loopholes in present taw. 

Test Two: Does the plan truly simplify tax- 
es? The president's first objective, as set forth 
in his State of the Union address la« January, 
is simplification. His plan surety would pro- 
duce some of that, if only because it cuts the 
number of personal tax brackets, and allows 

fewer deductions. But some of the reported 
new proposals are infinitely more complicat- 
ed thian present law. 

The emerging plan will probably be some- 
what simpler for many taxpayers, but h mil 

not bring a new dawn of "simple" taxation. 
Test Three: Is 

the plan fail? The most im- 
portant test is tax equity. Under current law, 
the tax burden is unfairly distributed, what 
with special advantages for various types of 
personal and business income, savings, invest- 
ment and expenditures. The forthcoming Rea- 
gan plan may improve on all this. But it may 
widen some preferences, too. The president’s 
proposals for taring capital gain* and fringe 
benefits wOl bear scrutiny. 

Test Four: Will it promote efficiency? Low- 
er tax rates and fewer loopholes would breed 
economic efficiency and faster growth. But 
that is also true of the innovative tax simplifi- 
cation proposed two years ago by Senator Bill 
Bradley and Representative Richard Gep- 
hardt, both Democrats, and of a later Republi- 
can plan by Representative Jack Kemp and 
Senator Robert Kasten. 

The president deserves credit for a historic 
undertaking. It remains to be seen whether he 
is for truly subs tantial reforms that are worth 
ail the effort or just another omnibus tax bill 
wrapped in populist slogans. 


Other Opinion 

Again, Labor Unrest in Poland 

The Jaruzelski regime refuses to acknowl- 
edge that workers u Poland are becoming 
steadily more radical, and it takes refuge be- 
hind a thick screen of deceptive propaganda. 
But in view of the country’s ongoing economic 
difficulties and social inequalities, the conflict 
of interest between the workers and those in 
power is becoming steadily more marked. 

The growing tension that this generates is 
indicated by an increasing number of strikes, 
mostly in enterprises with a high proportion of 
poorly paid female employees. These strikes 
are not called by Solidarity or the official trade 
unions but break out spontaneously as a pro- 
test against shocking working conditions and 
inadequate wages. 

— Neue Zdrcher Zeitung (Zurich). 

Doing Business With Apartheid 

but has starved them of aircraft, helicopters, 
warships and other major items. The partial oil 
embargo may have been evaded by all sorts of 
ruses and countered by stockpiling, but it has 
cost a lot of money and distorted the economy. 

It is Jesuitical to set the overthrow of apart- 
heid, no less, as the goal of sanctions and then 
to say they are pointless because this cannot be 
done. Apartheid cannot be demolished with- 
out decisive internal pressure, to which all 
external effort can only be secondary. The real 
issue is not whether sanctions work, but 
whether we are right, or even acting in our own 
best interest, in doing business with apartheid. 
International action put an end to slavery, 
surely a harder nut to crack, and there is no 
denying that it can help to eliminate its South 
African offspring. As with slavery, the Gist 
question is not what others may or may not do, 
but what we are going to do against apartheid 
— The Guardian (London). 

The case against sanctions is strong. They 
got a bad name in the 1930s when they were 
ineffectually employed against Italy over its 
intervention in Ethiopia, and evoked renewed 
ribaldry when used against Rhodesia (guard- 
ing the door of a building with no walls). 
Sanctions, it is said, do not work. The incentive 
to make large profits from evading them is at 
least as strong as the motive of those enforcing 
them. They are a blunt instrument that can 
damag e the gpod guys as much as the bad 
(consider the sufferings of Zambia and Mo- 
zambique over Rhodesia). 

But there is no denying that some selective 
sanctions work. The sprats boycott of South 
Africa has produced visible change. The UN 
arms embargo may have made the South Afri- 
cans self-sufficient in all manner of weaponry. 

TTie Deficit Becomes Real 

One of the most heartening events of recent 
weeks has been Ronald Reagan's discovery of 
the tenors of the deficit Until his April 24 

speech, you would have thought listening to 

the president that the 5200-biflion deficit was 
a bogeyman dreamed up by the Democrats to 
scare little children and witless fools. All of a 
sudden, it is a threat to democracy. 

That is real progress. The president's switch- 
about has made possible the newest budget 
compromise reached between the White 
House and the Senate Republicans. It appar- 
ently signals tbe end of the lumbering military 
buildup. And it includes a necessary slowing of 
the growth in Soda! Security benefits. 

— The Detroit Free Press. 


1910: llKMisandsMoiim Edward YD 

LONDON — Past thousands of grieving peo- 
ple, the body of Edward VII was borne in 
solemn state yesterday [May 17] from Buck- 
ingham Palace to the HaH of Rufus at West- 
minster, the ancient hall of his royal ancestors, 
where for the next two days he wtH receive the 
homage of his loyal loving subjects before 
being finally carried to his last resting place 
beneath the Chapel of Sl George at Windsor 
[on May 20]. It was a thrilling, impressive 
scene, such as London has perhaps never seen 
before. Not the least wonderful of all was the 
spectacle of that black, sorrowing host stand- 
ing immovable behind the military guard that 
fined the route, throbbing with deep-sealed 
emotion and weeping silent tears for the King 
who in his short reign had wou the hearts of afi. 

1935: A Lesson for Campos 'Reds’ 
MADISON, Wisconsin — Following disclo- 
sures by a Senatorial inquiry of Communist 
activities in American universities, students at 
the University of Wisconsin broke up a Red 
meeting on the campus [on May 17] and threw 
four agitators, including Maurice Sweetiand, 
chief speaker, and Ben Weinstein, local orga- 
nizer. into Lake Mendota to “coed off." The 
anti- Red demonstration came after testimony 
in Chicago that Communism was not only 
dealt with in political science courses in tbe 
universities, but that also English literature 
classes were reading such books as “The Com- 
munist Manifesto" and "Communist Primer.” 
It was said (hat the subject of Communism was 
being treated more fully than the purely aca- 
demic knowledge of the subject required. 


JOHN HAY WHITNEY, Chairman 1938-1982 





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W ASHINGTON — How- to ne- 
gotiate with the Soviet Union? 
The rules for doing so have been 
repeated often: negotiate from 
strength, specify U.S. negotiating 
goals, gamer bipartisan support in 
Congress, and work closely with the 
allies- Bui in addition to these general 
rules, a host of lessons can be learned 
from one of the most successful nego- 
tiations conducted with the Soviet 
Union in the postwar era. Tbe negoti- 
ations culminated in the Austrian 
State Treaty, the anniversary of 
which was celebrated Wednesday. 

And celebrations were in order. 
The treaty, signed May 15, 1955. by 
the United Stales. Britain. France the 
Soviet Union and Austria, was a huge 
success. Measured by the fundamen- 
tal values of assuring freedom and 
democracy, tbe treaty stands as a 
monument to Western diplomacy. 

Except for northern Iran, it was the 
sole instance in which the Red Army 
withdrew any major force of occupa- 
tion troops after the war. Moreover, 
the treaty restored to Austria its sov- 

By Kenneth L. A de l man and Charles A. Sorrels 

Mr. Adebnm is director of the U.S. Arms Control and Disarmament Agony; 
Mr. Sorrels is senior policy adviser to the agency. This is the first of two parts. 

ereignty, which it lost in March 1938 
vith Hit’ 

with Hitler’s Anschluss. 

Though Austriawas “liberated" by 
Allied forces in the spring erf 1945 — 
when the Soviet troop commander 
proclaimed that the Red Army was a 
“liberating, not a conquering, arm/" 
— it took TO years to get the Russians 
to grant real liberation. Had the 
United States and its allies lost heart 
during those 10 frustrating years and 
accepted an agreement for an agree- 
ment's sake, not only Austria but also 
tbe West's highest principles would 
have been the losers. Austrians today 
might not be free, especially from 
Sonet occupation. Austria might not 
constitute the source of stability that 
it is today, but rather would be a 
source of tension in Central Europe. 

The tale began in Moscow. Meet- 
ing in October 1943, the American, 
British and Soviet foreign ministers 
declared Austria’s 1938 annexation 
by Nazi Germany noil and void. 
They pledged to "see re-established a 
free and independent Austria.’' 

There the matter stood until the 
Potsdam summit in August 1945, 
when another declaration was issued 

most rapaciously, even bratall^lte 

stipulating th?r “reparations should 
not be exacted from Austria." But on 

the summit's day. Stalin rather 
offhandedly proposed including 
“German assets" in Austria as pan of 
German reparations due the Soviet 
Union. Tbe Americans, ever anxious 
to end the summit, and the British 
agreed — without obtaining a defini- 
tion of "German assets in Eastern 
Austria." This was most unfortunate, 
as Secretary of State John Foster 
Dulles later noted: It “illustrates how 
terribly dangerous it is to make agree- 
ments that are hastily made and in 
loose terms.” For tins was. to be a 
critical sticking point throughout the 
subsequent negotiations. 

The issue's prominence came as no 
surprise. Soon after the Potsdam dec- 
laration, the Russians began plunder- 
ing the Austrian economy as they (fid 

natwwis of Easton Europe, 
they could not move, they seized in 
Austria as “German assets." These 
included two-thuds of the Austrian 
oil industry and virtually afi Danube 
shipping facilities. By 1955 ; Soviet 
economic exploitation had inflicted 
on Austria losses of roughly SI bil- 
lion, excluding occupation costs. 

The United States and Britain pro- 
tested that tie Soviet actions violated 
the Potsdam agreement. The Soviet 
Union rebuffed the protests. The 
Americans and the British resorted 
n gnm to diplomacy, (hat Strong of 
1946, striving to place tbe 
State Treaty on the agenda of the 
Council of Foreign Ministers. The 
Soviet foreign minister. Vyacheslav 
Molotov, flatly refused. 

That opened a diplomatic batik 
that was to ran nearly a decade be- 
fore yielding not only success for the 
West but also six critical lessons. 

Lesson one: Major negotiations 
• with the Russians require great, even 
superhuman, patience. 

The Russians are tough and wuy' 
negotiators. The first of foursecrcfcr- 
ies of state to negotiate the Austrian 
treaty. James Byrnes, later wrote 

about American negotiators who. 

' “b ecaus e a thing is right . . . cannot « , 
»™a.T*ffaTirf why Mr. Molotov doesv 
not agree to it." The thud secretary 
involved. Dean Acheson, wrote: 
“What one may learn from these ex- 
periences is that Soviet authorities 
are not moved to agreement by n ^o- 

H ati on — that is, bya series of mutual 

concessions. ... Thms is a more 
primitive form of political method. 
They ding stubbornly to a position, 
hoping to force an opponent to ao- 
spring of cent it" When die opponent doesn t, 
Austrian “they hastily abandon ft — after ask- 
ing anti having been refused an un- 
warranted price — and hastily take 
up anew position, which may or may 
not represent a move toward greater^. 

Half a Loaf, Not the Bakery 

By William B. Bader 

A rlington, Virginia — The 
breakthrough in the Vienna 
Peace Treaty talks bad Hide to do 
with Soviet concessions in the face of 
steady Western pressure; in letting 
the indigestible Austrians go, the 
Russians not only withdrew to a 
more defensible military line along 
the Czechoslovak border but were 
able to include such stringent mili- 
tary and political restrictions in the 
treaty that Austria is now virtually a 
military vacuum in Central Europe. 

The lines of supply between two of 
the most important North Atlantic 
Treaty Organization countries — 
West Germany and Italy — must 
now go around the twin neutral barri- 
ers of Switzerland and Austria. Then, 
too. Nikita S. Khrushchev, the Soviet 
leader, had wanted a summit meet- 
ing. Much to tbe displeasure of Secre- 
tary John Foster Dulles, the Austrian 
decision made it impossible for the 
United States to refuse. 

As for the United States, the brac- 

ise of the Moscow Declaration of 
1943 that Austria, "tbe first bee 
country to fall victim to Hitlerite ag- 
gression," would not only be liberat- 
ed but pnri mrif-penrirr^ ** 

Yet America hoped also for a West- 
ern-oriented Austria, along the lines 
of West Germany. For years nothing 
hap pen ed , then eame that crmral 

moment in 1955 when both sides saw 
reason for a compromise that took 
the form of an exchange of a neutral- 
ized, virtually itwnilinfwwt Austria 
for an Austria free of Soviet presence^ 
The independence of Austria, then, 
is no monument to the virtues of 
marathon ba rgainin g or Western ne- 
gotiating finesse It is an examp le of 
how divergent East-West objectives 
can sometimes evolve to a pant 
where, briefly, both parties can con- 
dude that their interests are test 
served by agreeing to half a loaf. 

mg challenge was to fulfill the prom- 

The writer is author of a book on the 
Austrian peace treaty. This view is ex- 
cerpted from The New York Tunes. 

Special Reasons for Gorbachev’s Summit Skittishness 

V IENNA — There is little doubt that the 
Soviet leader. Mikhail Gorb a c h ev, intends 
to visit the United Nations in New York this fall. 

By Flora Lewis 

It is hardly likely that he would go to the United 
ithout me 

States without meeting President Reagan. 

So it seems odd that Secretary of Stale Geoige 
Shultz and Foreign Minister Andrei Gromyko 
could not agree on a time and place for a summit 
conference during their meeting here. But there 
are other questions. 

Vienna offers both auspicious and worrisome 
precedents. This was the site of the disastrous 
Kennedy-Khnishcbev meeting in 1961. Presi- 
dent Kennedy was overconfident and thought he 
oould strike an understanding with the Soviet 
leader in first-hand "get acquainted talks." 

This was just after the Bay of Pigs fiasco, and 
the meeting exploded in rec rimina tion. 

But Vienna was also the most spectacular, 
almost unique example of how a new Soviet 
leader could be persuaded to make an enormous 
concession to the West to free his hands for 
domestic reforms. Nikita Khrushchev agreed to 
end the occupation of Austria in 1955 so as to 
ease tensions and start his "thaw" at home. Mr. 
Shultz and Mr. Gromyko woe here celebrating 
the 30th anniversary of that treaty. 

The question now is which way an encounter 
with the seventh Soviet leader, in the process of 
consolidating his power, is likely to go. On ap- 
pearances, Mr. Reagan's insistence that the 
meeting be in Washington is holding things up. 

It would be foolish to seek such one-upman- 

ship to mark a distinction from sessions Mr. 
Gorbachev may have with other government 
leaders in New York. By definition, a Soviet- 
American summit conference is special. The time 
has come to show the world that the two leaders 
can talk to each other with dvihty, even without 
a dramatic breakthrough. 

Bui Mr. Gorbachev may have special reasons 
beyond the protocol of place for needing more 
time before the date is fixed. Former Chancellor 
Bruno Kreisky of Austria has some fascinating 
hunches. He poults out that every new Soviet 
leader has set out to mark a policy shift. 

The key move by Mr. Gorbachev has teen to 
enlarge the permissible size of private agricultur- 
al plots, winch can make an enormous difference 
in rood supplies fra Soviet cities. His first priority 
is surely domestic conditions. 

But what does thai mean for East-West rela- 
tions? One choice for the Kremlin leader would 
be to concentrate on internal problems and leave 
foreign affairs mainly to Mr. Gromyko and his 
stonewall approach. 

Another, which Mr. Kreisky thinks possible, 
would be early leadership changes enabling the 
appointment of a new foreign minister to ease 

tensions — possibly the ambassador to the Unit- 
oli Dobrynin. 

ed States, Anatoli 
Mr. Gorbachev couIdT do this 
assumption of the Soviet presidency 

naming Mr. Gromyko instead. It would be a 
push upstairs. Then he would have more elbow 
room in talking to Mr. Reagan. 

A part of die leadership renewal is likely to bc 
replacement of the 80-year-old p ri m e minister, 
Nikolai Tikhonov. Support fra moving Ml Gro- 
myko aside could be won by giving this post to 
- Grigori Romanov, Mr. Gorbachers mam rival 
for the top leadership. He has recently teen 
studying Hungary’s economic reform system to 
report to the Kremlin. 

This is speculation, bat it is based on Mr. 
Kreisky’s nrnimal contacts, experience and in- 
sights. He says Mr. Shultz and Mr: Gromyko . 
seemed to get cm well and to J5ke each other 
personally, even trading jokes, which is not the 
specialty erf other one. That belies Viennese 
press reports that their exchanges were all tough 
and glam, though there was certainly lots 
of tedious repetition. 

Another meeting is fikrfy in Angnst on another 
anmvereaiy, erf the Helsinki Agreements. That 
could be a final preparation for mmmii 
conference. Some useful, if not dramatic, accords 
seem possible to make die Reagaa-Gorbachey 
session more than a mere introduction. 

It is important in the meantime not to let 4. 
quibble about going to Washington get in the 
way of any ideas Mr. Gorbachev may have that 
bettor relations with the United States would be 
a good way to strengthen his base fra tending 
to domestic problems. 

The New York Times. 

The last secretary involved in tbe 
TM-gftri.iri/Ync John roster Dufies, de- 
scribed the talks as "tortuous” and 
likened them to tbe myth of Sisyphus, 
who endlessly pushed a heavy stone 
up the mountain only to have it roll 
tack down when nearing the peak. 

The push, up the mountain really 
began in January 1947. Special depu- 
ties to the . four foreign ministers 
(France bad teen added after the 
war) met to draft and negotiate the 
treaty. These talks broke down in 
1948 but were renewed in the middle 
of the following year. By that tuner 7 
Stalin may have had to readjust bis 
foreign policy in response to the sort 
of Western resdve exemplified by the 
heroic Berlin airlift. He seemed to 
switch tactics, and adopt his own 
"peace offensive.” This was designed 
to give the appearance, if not the 
reality, of a thaw in the Cold War. 

From 1947 to 1955, the four pow- 
ers bdd a staggering 400 meetings on 
the Austrian treaty. In the bunt of 
those meetings — whether at the for- 
eign mimsterlevd or lower — little or 
no progress was marir. 

At tunes, the gap widened. Seem- 
ingly significant progress would 
evaporate, once within hours. On 
June 20, 1949, inParis, Soviet Fra-jif 
esgn Minister Andrei Vishinsky did a 
swift reversal. Mr. Acheson writes 
how Ernest Bevin, the British foreign 
secretary, “congratulated him on a 
new record. Soviet agreements were 
fragile things but today's was the 
frailest yet It had not even survived 
the day.” The rode kept tumbling 
down, but the Sisypbuses of the West 
kept putting it back. 

Lesson two: Major concessions, 
particularly in the form of package 
deals, can quhkiy te pocketed by the 

RiiMttaiMl in nrrhtrngp far nrrthfn g • 

A stumbling block for years was 
reparaikos. The Russians agreed at 
Potsdam not to exact thenrftom Aus- 
tria, yet demanded them thereafter; 
die west adamantly refused to grant# 
them, yet biter rehnqaidied' them. * 

. Mosajw bad its eye mostkeenly on 
Austrian til production. Western for- 
eign ministers thought they had set- 
tled this issue during the May 1949 
meeting in Paris, when the Russians 
agreed that (heir daim to oil assets 
would give ttem rights to 60 percent 
of the oil-prochidng lands m Easteni 
Austria. Two months later, die Rus- 
sians “reantapreted” tbe Paris agree- 
ment to damt a nraiopoIycBi future 
Austrian oil production. They sought 
not only to Meed a prostrate Austria 

but to cstabKsh&pennaneat econom- 
ic hold over it 

During the September 1949 for- 
eign mnusterf mating in New York, 
Mr. Vishmsky outlined ite makings 
of a grand deaL AD remaning mm- 
greedartides would present "no dif- 
ficulties” to Moscow if this matter of 
so-called Getman; assets — i.e_, repa- 
rations from Austria "went the 
Soviets' way.” The United Staira 

The West would accept most of tbe 
Soviet demands cm this main issue fit 

The Conservatives’ Day in America: Dawn or Dusk? 

W ASHINGTON — In recent is- 
sues of his biweekly newsletter. 
The American Political Report, and 
in an article in Iasi Sunday’s New 
York limes Magazine, Kevin Phil- 
lips has offered as interesting an anal- 
ysis of the Reagan administration 
and its political prospects as anything 
that has come across this desk. 

Mr. Phillips writes from the per- 
spective of a conservative who shares 
many, if not alL of Mr. Reagan's 
policy goals. He has teen not just a 
student but a proponent of the con- 
servative movement since his book. 

By David S. Broder 

Roosevelt and John Kennedy won), 
is likely to happen to the Republicans 
in 1986, he said: a political bath. 

The political cyde, he argued, is 
linked to an economic cyde of severe 
recession or inflation at that point of 
a party’s White House (enure. 

As many of us have watched the 
changing candidate picture for 1986, 
we have written about the improving 

odds fra continued Republican ccrn- 
ad forgul 

“The Emerging Republican Mqor- 
fier he served a stint 

ity." appeared after 
in the Nixon administration. 

This background is part of what 
makes Mr. Phillips's views so inter- 
esting today. Many observers, includ- 
ing this reporter, are far more dubi- 
ous of some of Mr. Reagan’s policies. 
But we have written of his election 
and re-election as signaling the ad- 
vent of a possible conservative era in 
national affairs. Mr. Phillips has been 
moving in the other direction. 

He argues that 1984 is likely to be 
seen as the high-water mark of con- 
servatism in the current political era, 
and that the tide of sentiment and 
elections is far more likely to swing 
back in tbe other direction. 

In his newsletter, he has argued 
mainly that economic and political 
cycles are conspiring to frustrate the 
conservatives’ hopes. In tbe New 
York Tunes article, he added a third 
factor: the human “over-ambition" 
and exaggerated pride that he says is 
leading the Reagan administration to 
misinterpret and overstate the man- 
date of the p 

trol of the Senate and for gubernato- 
rial gains. We have seen Mr. Reagan's 
agreement to the Senate budget pack- 
age as the possible harbinger of sus- 
tained economic growth. And we 
have suggested that tax reform is an 
issue oa which Republicans may lock 
in the allegiance of previous ticket- 
splitters and Democrats. 

But through all this, the pessimistic 
Mr. Phillips has been plucking ax oar 
coats and war ning, “Do not disregard 
the patterns of the past.” 

Now. in the Times, he has added 
another argument: "Mandate hubris 
has helped nurture excesses” in the 
second- term Reagan White House, 
ranging from interventionism in Nic- 
aragua to cutbacks in Social Security 
and other middle-class entitlement 
to laissez faire tolerance of 
its, to Continuing em phasis 
On " fandflirantatis l rrfigirm s goals.” 

Is Mr. Phillips right? Is President 
Reagan in tbe process of blowing the 
conservatives’ big chance? There is a 
contradiction inherent in his argu- 
ment. If the cycles of party growth 
and decline are as ironclad as he 
suggests in his six-year theory, then 
Mr. Reagan is powerless to avert a 
Republican decade in 1986 and 
probably in 1988, and bis policies are 
irrelevant. But I doubt tteantomatio- 
ity of those cycles. A party that can 
reduce the defdts and tax rates (via 
tax reform) in its second term, as 

Republicans nay be able to do, can 
perhaps sustain economic growth 
and earn enoonous poiitical.CEediL 

and very relevant— in reminding us 
that all erf" American history suggests 
we will see swings in public mood 
from wanting governmental acti vism 
to fearing it, and back again. - 

Mr. Phillips is also wise in remind- 
ing bis fellow conservatives that peo- 
ple want more from govenuDent than 
stockpiles of missiles. As he wrote; 
the threats of "America’s jeopardized 
agriculture, eroded manufacturing 
competitiveness, run-down transpor- 
tation infrastructure, shaky finatiRiai 
institutions and troubled educational ■ 
system may be about to force Wash- 
ington’s hand.” 

When they do, the voters may min 
from Mr. Reagan's anti-government 
rhetoric to the Democrats for- activist 
responses. As the old saying goes, 
“what goes around, comes around.” 

Washingt o n Post Writers Group . . . 

„ to the 

Western petition cm aRotbff remain- 
ing and relativdy subordinate issues. 
This fell short fra the Russians. - 
. ! The special Soviet deputy then rt- 
— according to the Stale 
cut’s historical record 

“one of die most abrupt statb- 

ments in the record of postwar ngjo-. 
tiauons." He stated that the "“Gtf- 
man assets" article "must be worded 
exactly as the Soviet Union wished 
before airy settlement could be 
reacted on the other issues.” When 
agreeing to this a few days later, the 
Wcsf made dear that it signed onto 
the exact Soviet wording in order tcJ 
secure the earliest posable condo-* 
son pf the whole treaty. . 

. The State Department record tells 
what happened next “Tie Soviet 
' union readily accepted this offer, but 
then refused to give anything in z6- 
tam. Vishinsky’ s statement of a 
month- before was. in effect with- 
drawn once the Western powers had 
made the desired concession.” 

-V Whal became theirs, remained 
. theirs; . what . was to. be ours, re- 
maimti negotiable; 

’ International Herald Tribune. 1 


Aid to Family Wanning 

I read with great interest the edito- 
rial “Aid and Family Planning” 
f April 18). It is absolutely essen tial 
that all efforts to improve the eco- 
nomic and social situation of people 
i the Third World be supported. Aid 

to family planning plays* a very im- 
rfe in this t 

: president's re-election. 

Mr. Phillips is the popularizer of 
the notion of the “six-year itch": that 
there is a pattern of severe off-year 
losses of Senate. House and guberna- 
torial seats for a president's party in 
tbe sixth year after it gains control of 
tbe White House. 

What happened to the Republi- 
cans in 1958 and 1974 (six years after 
Dwight Eisenhower and Richard 
Nixon were firs! elected), and what 
happened to the Democrats in 1938 
and 1966 ftix years after Franklin 

ponant role in this context. 

The IJN Fund for Population Ac- 
tivities. a multilateral organization, is 
particularly suited for implementing 
the necessary aid measures. 

As chairman of the Committee on 
Economic Cooperation of the West 

German Bundestag, I am weft-ac- 
quainted with the commendable 
work the UNFPA is doing. I know 
that since its inception ft has ob- 
served three principles: respect lor 
national sovereignty; support for the 
baric right of couples freely and re- 
sponsibly to determine tbe number 
and sparing of their children; inte- 
gration of population programs with 
other development activities. It 
should be supported. 



Hie Profit in Anns 

Letters intended for publication 
■ addressed Letters lo the 

should be i __ _ 

Editor" and must contain the writ- 
er’s signature name and full ad- 
dress. Letters should be brief and 
are subject to editing. We cannot 
be responsible for the return of 
unsolicited manuscripts. 

Regarding the rqtort "Profits far 
Arms Makers Outpace U.S. Industry ” 
(Business/ Finance, April 10): 

Jeff Gerth purports to show that 
the return on equity (ROE) for the 10 
leading UJL defense contractors in 
1984 was 25 p er ce nt , compared with 
a national industrial average of 1Z8 
percent. In other words, profitability 
in tbe defense industry was suppos- 

J checked Mr. Gerth’s 
against those published forthe "for- 
tune 50CT for 1984 and came ip with 
a somewhat different story. 

According to Fortune magazine’s 
numbers, these same 10 defense con- 
toactras had acpBectfre ROE (sum erf 
net income divided by sum of stock- 
holders’ equity) of 17.8 percent craft- 
pared with an avoage ROE fra the 
Fortune 500 of 13.6 percent That 
may be a nice difference; but hardly 
tbe2-to-l ratio implied by Mr. Gerth: 

Furthermore, it is highly mislead- 
ing to compare these ID defense con- 
tractors with U.S, industry in generaL 
More useful would be a comparison 
with the aerospace and e l ectro ni c in-, 
dustries, since all 10 fall m one of 
these two industry sectors. Hpd Mr. 
Gerth made these com pari sons,, hie 
would have found out that the ROE 
fra the electronic firms' among tbe. 
defense contractors was lower. than: 
fra the electronic nrfustry'overalT— 

though tbe 1_ 

firms had - a higher ROE than**iSe 
aerospace, industry overall. 

Ulm, West Ge r m any. ] 

Hewing Exporters 

r Innsponx to the “Slowing M 


i m 


1 i i ■ i* v? 

i/i'i & 3 

3 $ 



_ ’ (April 20): 

The blame for tbe UA trade dtft- 

rilis bemn rinr m 

dt is bring pin entirely on die eaar- 
mous budget defieft. The j 

iwua Buogci cenoi. uie strong dol- 
lar, to be snrevhasmade foreign sales 
more difficulty but there are otter 
reasons. While the U.S. .Qxrunerie 
Depa rtment has several good pro- ' 
grams to te^ exporters, many fca-P- 
eigp governments rirdvide the 
to promote sates aftectly. Thoeial 
<rfode guaranteed govetmtentfinane- 
mgjor exportras, the use of 
■tieS for industry 

' Biikerod, - Denmark.' 



Page 5 



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Malaysian Leader 

vfijv . Blends East, "West 





: >V.i i.3^ 

By Bariaaia Gxjsscccc 

MewTcrt Times Sarice 
L • KUALA LUMPUR, Malaysia 

. '" ■ -«w.>toS 

Nq^ s : no 




• no bon^r wan or large-scaleter- 

‘ JJ 1 * ■•■> ». u . rti| } K,jJ ‘ rarist nxwanenls, bot it has its 
4 \ : " ,s ^ ;. Jn prob!cnii.Aaxird^totbegov«Dj' 
■ nci^.r'tfc - meat’s own. figures, 22 percent of 
Kuala Lumpur’s people live in 


: j'v .‘^KS menfs own fign 

"* •*•••! ■ Kuala -Lamport 

u 1 1 sqnattg confctiong. 



t : «r 

"• d 't* it JOdC' TO 

1 : ’Tvb 0 C 

* draw 

Tensions between ethnic Malays, 



l ^ri rm of 15 rmTKon people, SOd the 

Chinese majority persistaod have 
[i J,'bcai rrfnded by g owenment po&- 
dg dm give preferen ce to Malays. 

Prime MOBSter 

From Foreign Embassies, Afghan News 

Despite Misgivings, Reporters Depend on Western Diplomatic Sources' in Asia 

By William Claiborne 

Washington Past San er 

NEW DELHI — At noon almost 
every Tuesday, a half dozen or 
more foreign correspondents based 
in Islamabad, Pakistan’s capital, 
gather in a windowless room on the 

does not permit Western reporters 
to visit the battle zones. 

Periodically, journalists slip 

Far four years. Rime 
Mahathir Mohamad, 59, has been 







, “ ,Wl «c sesr."* 5 

the tk 1 * 11 mmarming the country 
around these obstacles. Admirers 
and detractors agree dial Mic. Ma- 
hathir , a phyarwn by. t raining hftS 
proved tobeadaIlWp(fiikaaiL 

Switching, as Ihzroccasicsi de- 
mands, from weS-tailored Western 
.suits to. traditional Malay traries, 
trousers, sarongs and Hack 
kot (a fezEke hatX he 
around the couni 

't.lllf. Til I, ' {““•■ifc. , *“«•**»* HS.WUUM 

r hrdin^.both Islamic uahies 

.1 u " * in rfsiv— Fasten 

‘ : v tW' t and bureaucratic in daf e ioi ce, and 

Th Uwi !ULA. J < -g =■- 

. '- 1! • r -'^ hS 

• f 'I 1 T.-. — ui-L _■ 

to do, so 
behind ano- 

i •■‘hiib 8-. 


‘ k ?:Xi 
'"'•••’n; civpQjl 


t ; ^ f^,b. 

•-•.•>4. Ml Uto, 

v . .. 

■' .r. :■ 


' • • t 


: ■' 1.V WlPCf 


■ s: ,, .ut 
»■ M?.*; 

« - !!•..’ I.4T ,»c 
•: » ’• \T*;saff 

there can be no' 


. “They can’t treat, us Hke 
-anymore, pushmgusfromdedcto 
desk,” a man in a post office fine 
. said a^uovin^y of the name tags. 
■ “We can write down wbo they are 
when we get bad treatment.’* 
Diptanats say tint Mr. Ma- 
hathir is becoming an out * 
of East-growing 

easrAsiaJ9Qs message to the West 
has been that there is a “new Thinl 
Worid” dzat no lcnger fits old sto- 
tcatmes and that it is tune the first 
wodd came to teons with it. 

It is «l wodd of eamedmeatatioQ 
with new systems of society and 
rovemment ' that accepts neither 
■ East not West as its only model, he 
says. ; '• 

As Pome Mxmsier Lee Knan 
Yew of S^apore moves toward 
retirement and -Prime Miiiister 
Prem Unsolanonda of Thailand 
and President Suharto of Indonesia 
stsy dose to home, Mr. Mahathir 
has beenafteqnent traveler abroad 
and diplomats suggest that the 
wudd inD see more of his combat- 
ive style:.. 

Mr. Mahathir is critical of the 
American, press, which he de- 
scribed in an ApiS roeech at Ox- 

frinB In i w wy ni England asdnm- 

mated by big business and 
controlled by emtois “who deter- 
mine the slant’’ ... 

’ *lDcar their wradi and you wiB 
pay. a very H^i pace indeed," he 
su d; according to a. transcript of 
die speech panted in The Star, a 
Knala Lumpur newspaper. 

He declines requests for inter- 

U.S. Tells New Zealand Consulate 
Its Travel Services Are Prohibited 



r Ri.vr?^ 



The Amdcted Pros 

Department has informed _ New 

Tealarid that m m me i r l iil 4cfiwt»tt 

rdated to travel, sndi as making 
airline reservations, are not permit- 
ted tO diplriwifeimKioM. 

“Promotion erf tourism is considr 
ered a legitimate diplomatic and. 
; r: : 'CK-TiJ ■consular function," a department : 
. .. .... r ....> 3 » * gtatanent said, _“but die .United 

States disangoLshes between pro- 
motion of tourism and the safe of 
travel arrangements.” 

• The statement was issued 
Wednesday after The Washington 
Post reported that New Zealand’s 
-consulate in San Francisco was 
confirming airfine flight** b ookin g 
sightseeing tours 4nd reserving 
rental cars for people traveling to 
New Zealand. 

. Relatio ns between the United 
■States and New Zealand are 
strained over New Zealand’s refus- 

: vtu.vrki; 
■■ a"-;r:b 

alto allow visits by U^. naval shqis 
carrying nndear weapons. 

“When the promotion of tmnism 
becomes commercial in nature," 
die department said, *Tt goes be- 
yond promotion and is not permit- 
ted as part of a dq)lamatic opera- 
tion- It is not considered 
apimmriale, for example, for a 
coasniar office to en g a ge in oom- 
meccml transactions -Sot' as^ ■malt- 
ing mIim or other travd arrange- 
ments or to perform other s imila r 
services nennafly provided by trav- 
el agencies." - ■ 

...... re SM 

. .... rstrsi 


of the 

A man o r ial se rvice i n _ . — 
Gmauhuuiycf the passing 
was hdd kt the Chinch of the Asob- 
roeation in Hew York City 00 May 16. 
1985. Me. Ketaseoglon was the founder 
and Ficwkni of Sun Lise Cruises. 




A N N B L' 









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has a vacaney far an executive position 


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— Salary eocresponding to qiialificatioiLs; 

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Box IM04, IntematioGal fieraid Tribune, 
92521 Nenffly Cedes, France. , 



*r • “ 


<L Gannon, fiuantb^* 15yiM* 
eaoe In iha imiuuumm aid tsrtrel w*- 
nm « cti AnMribor canpanr kxoMd wt ft* 
Hw*tain arw nab rapon*b poBfan 
«M a d)Knc raapontF. . : J ' 

' - flbn-Vqjjy Jot . , 
B«S149,I«MMtW. 15. 

xortoct ymr oaorost 
- WmdiwdHanjW Tribun* 

■- repwigalofri t or Max Fa ran x 
1BI Am. OwrWdo-Goofle, 
92521 NadHjr Codex. France. 
TaU MZ.ius -Uen 613591 

: E\-l 

views offering bun an opportunity 
to present his views. 

Once a devastating university 
debater, Mr. Mahathir has ac- 
quired a reputation for abrasive, 
bat never daH, speeches. When 
Prime Minister Margaret Thatcher 
of Britain visited Malaysia in April, 
Mr. Mahathir took the opportunity 

to describe the Commonwealth as 
“a creature of the past” 

“He can’t help it; that’s just his 
habit,” said Prince Abdul Rahman, 
82, who was Malaysia's first prime 

“He never had a kind word for 
me when I was prime minister," the 
prince said, adding with a cfandde: 
“On my 80th birthday he came to 
apologize for some of the things he 
had said in the pasL” 

Mr. Mahathir is Malaysia’s first 
prime minister not of princely 
birth. A relatively conservative 
Moslem and an Malay na- 
tionalist, he was expelled temporar- 
ily from the governing party in 
1 969 for bis opposition to its policy 
of submerging difference in 

political organizations. 

He argued that e thnic Malays 
must strengthen their identity be- 
fore they could achieve -eqnafity 

with the economically powerful 
Malaysian rhincse. 

“The Malay Dilemma," a book 
be wrote in 1970 excoriating Ma- 
lays for their cultural weaknesses 
demanding special attention to 
their plight was banned until Mr. 
Mahathir became prime minister in 
1981 after the resignation of Hus- 
sein Onn. He was elected in his own 
right in 1982. 

Mr. Mahathir 's backing for the 
fWin m ift and SOCi&I policies that 
give advantages to ethnic Malays in 

frnawmafi, education and employ- 

ment has led to -criticism that 
enthusiasm and confidence of the 
country’s ethnic Chinese, tradition- 
ally the entrepreneurial class, is be- 
ing undercut at a time when Malay- 
sia needs to r-rpand industry and 
attract investment 

He is unmoved. 

“We know the Chinese are very 
hard-working, very diligent and 
very successful in business,” be told 
a caller to a British Broadcasting 
Corp. “phone-in” program recent- 
ly. “If we allow that to go on, we 
Will find the rhineaa. and other 
races have different economic sta- 
tus. In a country where we have 
different races, the fact of race 
alone is divisive enough.” 

Iding for a briefing on the pro- 
gress of the war in Afghanistan. 

An embassy spokesman, who has 
not been to Afghanistan and who 
frequently stumbles over the pro- 
nunciation of the names of unfa- 
miliar towns, begins reading from a 
long, teletyped cable fronf his 
country's nrisrinn in Kabul. 

The spokesman does not have to 
spell out tbc ground rules for the 
briefing, which are well known to 
the reporters: They can take notes 
on the reading of the report, but 
they cannot not use tape recorders 
or be given copies of the documenL 

Attribution is strictly limited to 
“Western diplomatic sources,” 
even though the Soviet Union and 
the Afghan government are well 
aware of the briefing sessions and 
can see through the thinly disguised 
sourcing that appears in the follow- 
ing days newspapers. The diplo- 
matic sources readily concede that 
there is little doubt that their cables 
have been intercepted tty Soviet in- 

At the same time on Tuesday, 
foreign journalists in New Delhi 
gather around a conference table in 
the chancery of a Western embassy 
and Hsten to a reading of an identi- 
cal report 00 the war. As in Islam- 
abad, substantive questions are not 
entertained, because the briefing 
officer has no information beyond 

across the porous Pakistan- 
ghanistan frontier with bands of 
insurgents. But because of the con- 
straints on travd posed by ibe rug- 
ged terrain and the danger from 
Soviet and Afghan troops, their 
perspective often is tinriied 10 a 
relatively narrow geographical 

As a result, in the battle for pub- 
lic opinion bring waged by the So- 
viet Union and the West in the 
United Nations and elsewhere, the 
Tuesday briefings by “Western 
diplomatic sources" has assumed 
increasing importance. 

The most recent offensive in the 
public relations war has centered 
around reported atrocities by Sovi- 
et troops against Afghan rivQians. 

These included delayed reports 
on Tuesday of massacres of about 
1,000 meat, women and children by 
Soviet soldiers in Laghman Prov- 
ince in northeastern Afghanistan 

sal raids against civilians support- 
ing Islamic guerrillas. 

Most reporters based in southern 
Asia who try to monitor the pro- 
gress of the war do not dispute the 
view that something sinister, and 
probably akin to the disturbing 
diplomatic reports, has been going 
on in eastern Afghanistan. 

For weeks, Afghan travelers who 
arrive in New Delhi have spoken 
vaguely of Soviet ma ss a cr es of ci- 
vilians in reprisal for assisting the 
Mujahidin, the Moslem rebels who 
have been fighting against Soviet 
and Afghan government troops 
since the Soviet Union intervened 
is December 1979. 

The Afghan Information Center, 
which is headquartered in Pesha- 
war on the Pakistani border, and 
which is regularly in contact with 
journalists based in Islamabad and 
New Delhi, has spoken of civilian 
massacres, although its details of- 

ten are at variance with those of- 
fered in the briefings. 

However, it is the numbers of 
casualties reported that journalists 
often view with suspicion. 

In November 1982. Western dip- 
lomatic sources in New Delhi re- 
ported a major disaster in the Sa- 
bng Pass tunnel through the Hindu 
Kush mountains in northern .Af- 
ghanistan. Witnesses were quoted 
as saying that more than 700 Soviet 
soldiers and 400 .Afghan civilians 
had died in an explosion, and tiut 
as manv as 2.700 people might have 
been killed. 

The story, emphasizing the death 
toll received wide attention in the 
international press. A month later, 
the Western diplomatic sources 
scaled down the casualty total to 

As a result of that and other such 
experiences, many reporters in 

southern Asia have become suspi- 

cious of the figures supplied in 
regular briefings by Western diplo- 
mats. particularly those originating 
in remote areas of Afghanistan. 

U.S. Prods Philippines to Demote Ver 

what is contained in the rraorL 

>e On-based 

Usually, the New Del 
reporters then go to the nearby 
chancery of another Western diplo- 
matic misrinn and listen to the 
reading of a similar war report, 
whose details often, but not always, 
mirror those of the other embassy. 

In both Islamabad and New Del- 
hi, the correspondents who attend 
the briefings are, in a sense, a cap- 
tive audience. They are denied an 
opportunity to verify the reports, 
because the Afghan government 

Genera! Fabian C Ver 

The Associated Press 

WASHINGTON — The United 
States has told the Philippine gov- 
ernment that military reforms are 
needed and that General Fabian C. 
Ver, accused of complicity in the 
murder of Benigno S. Aquino Jr., 
should not be retained in a power- 
ful position, administration offi- 
cials report 

Paul D. Wolfowitz, assistant sec- 
retary of stale for East Asian and 
Pacific affairs, and James A. Kdlv. 
deputy assistant secretary of de- 
fense; told a congressional subcom- 
mittee on Thursday that there were 
hopeful sens of reform in the Phil- 
ippine mmiary but that much re- 
mained to be done. 

Among US. concerns is the con- 
tinued influence of General Ver, 
the former chief of staff and a con- 
fidant of President Ferdinand E. 
Marcos, Mr. Wolfowitz said. 

Representative David R. Obey, 

Democrat of Wisconsin and chair- 
man of the foreign operations sub- 
committee of the House .Appropri- 
ations Committee, noted that 
General Ver had retained his posi- 
tion on the National Intelligence 
Security Agency. 

Mr. Obey asked what General 
Ver’s position would he once the 
trial of military personnel accused 
in the assassination of Mr. Aquino, 
a Philippine opposition leader, was 

“I cannot say." responded Mr. 

Mr. Obey also asked whether the 
Philippine government had "a suf- 
ficient understanding of the pat- 
terns" involved from the U.S. point 
of view if General Ver kept his 

Mr. Wolfowitz responded that 
the U.S. objection to General Ver 
“is very clearly understood” by the 
Marcos government. 


U.S. A. 


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Page 6 



High Estimates Lead to A uction-House Setbacks 

International Herald Tribune 

N EW YORK — As auctioneer 
try to steer the market up and 
up, mishaps multiply. The meet is 
worst in the upper aid of the mar- 

Christie's experienced a re- 
sounding and predictable defeat in 
New York last week with “Highly 


Important Paintings by Old Mas- 
ters From an American Private 
Collection." The “collection," as 
Christie's called it, did not look 
much like one. There is no link 
between the German Renaissance 
master Lucas Cranach the Elder, 
the 17th-century Dutch artist Al- 
bert Cuyp and the French 18th- 
century petit- maitre Hubert Rob- 

ert. Nor was there any consistency 
in the quality of the 20 works 
shown. A poorly composed land- 
scape by Hubert Robert done in 
1802, late in the painter’s career, 
and a pitiful view of the “Grand 

naletta, contrasted with two very 
fine Cuyps and a wonderful Jan 
van de Capdle. Such disparity sug- 
gests an investor gambling in art, 
buying without any guideline other 
than the artist's fame. 

exhibited his wares at the Kimball 
Art Museum in Fort Worth, Texas, 
in 1982. He later published at bis 
own expense a votum^ “Old Mas- 
ter Paintings from a Private CoU&- 
tiou in the United Stales,” which 
bad the appearance of a deluxe 
auction catalog without a sched- 
uled data Indeed, Christie's cata- 
log last week carried verbatim the 
preface, signed "Christopher 
Wright edited by Victor Koshkm- 
Vouritem." down to its punch line; 
“Almost all of the paintings dis- 
cussed are of the highest order. 
They transcend the normal catego- 
ries of the Old Masters and,, in 
common with all works of ge n ius, 
refuse classification." 

raffing -bad or medium-range 
paintings “works' of genius" wQl 
not do the trick. Not will the inclu- 
sion of four or five very good pic- 
tures — a Cuyp landscape with two 
hunters, a Gaudfi-Joseph Vemet 
dated Rome 1745, Jacob van Rnys- 
daeTs “Wooded Landscape with a 
Waterfall" and a masterpiece by 
Jan van de Ggrefle. Failure m ig ht 
have been avoided had the esti- 
mates been realistic, but these re- 
flected the owner’s wishes rather 
than the prices that the paintings 

were likely to achieve. 

This led to disaster. The first five 

A telling confirmation of this 
was provided by the speed at which 
the “collection" had been formed. 
Most of the pictures had been ac- 
quired. the catalog noted, within 
six years. Possibly aware of the 
need to glamorize this motley as- 
semblage, the owner — whose 
name has not been released — had 

lots probably sealed the fate of the 
sale. No. 1, the mediocre 1802 land- 

scape by Hubert Robert, was 
bought in at $50,000; the wild esti- 
mate had been 5100,000 to 
5150,000. Na 2, a banal pair of 
oval scenes by Hubert Robert, was 
bought in at 5120,000. No. 3, a pair 
of genre scenes by the insipid Jean- 
Baptiste Pater, was the first lot to. 



4, Rue de Miromesnil, 75008 Paris - TeL- 265-51 .05 


Drawings and watercolors 

VndUune29, 1985.; 


'> Kuc dr*.- ..»oih> I’M;!- ■ !<•!. .•» i 2 < * . • 




\fa\ /.> - Jin ir /.I 

Galerie MELKI 

55 Rue de Seme, 75006 Paris. 325.94.70 


Maria Blanchard, Gieize, Hayden, HerWn, 
LJbote, Marcoossis, Monger, Vahmer^. 

May 17 - June 15, 1985 



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724 Fifth Ave. New York 


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47, Rim d* Moncsau, 75006 PAHS 
563^8.83 - 563.37.14 


55 world 
1913 - 1953 

April 24 - June 1 

Daily except Sun. & Mon. 





15, Burlington Arcade,, Picca difly, London, WtV 9AB. 

Tel: 01-839 7693 NEW YORK TeL- (212) 360 2219. 


on Saturday 

— GALERIE 39 — 

96 George Sl, London, VI 

Ratal Ceramics 

1-24 Mmj. 01-487 5038 
Mop-Fp. 104 and by m ipo inuncm 

sell at a good price — 52213,000, 
which nevertheless only matched 
Christie's low estimate. Next, a 
poorly painted Salomon van Rrrys- 
dad was hough 1 tu 41 S 150,000 (es- 
timate 5200,000 to 300,000). By the 
tiny. Cuyp o f 1 ™ up, the wind was 
ddSmtefy blowing m the wrong di- 
rection. iltis fainy important pic- 
ture, overestimated at $1-5 million 

to $2 million, was unsold at 


With 67 percent of the grand 
total from the sale representing 
bought-in paintings, the auction 
stands out as one of the worst di- 
sasters in recent years. 

This week it was the tom of Im- 
pressionists and Modern Masters 
to have a difficult time at Sotheby’s 
and Christie’s, with yet another tale 
of inflated estimates attached to 
pictures that were mostly second 
rale or worse. 

In Sotheby's evening’s session 
Tuesday, race was only jest saved 
thanks to the inclusion of a rarity: 
Egon Schick's view of Knunaa, 
done in 1917, went up to $23 mfl- 
Hon, or S2-53 million with the sales 
charge — a huge price. Even so, 
Sotheby’s virtually systematic over- 
estimation erf every work in the sale 
made this price seem less extraordi- 
nary *fam it was: The catalog car- 
ried an optimistic estimate of $23 
minimi to $3 millin g. On lesser 
works, this imprudent policy 
worked havoc. Out of 91 lots, 45 
failed to reach their reserves and 
were bought in. With the addition 

of the Surrealist worts from the 
Joel Mallin collection offered im- 
mediately after, Sotheby’s was left 
with 41 percent of the sale total 
representing unsold works Tuesday 

A glance at the stranded weeks 
makes one wonder whether the 
auction rooms are getting intoxi- 
cated by their own propaganda. If 
there really was a buyer as the auc- 
tioneer, John Marion, said 
“S26QJXXT for a bronze figure of a 
man described as “Auguste Rodin 
L’Ombre," Sotheby's and the ven- 
dor would have beat inspired to let 
it go at that price. The bronze is 
No. 9 from an edition of 12 cast- in 
1972 by the Muses Rodin in Paris. 
But Marion raised the stakes to 
5270.000. got no response from the 
room, and brought down his ham- 
mer. The estimate of $300,000 to 
$350,000 points to an unreafistic 

reserve price. 

Eugene Boudin’s view of the har- 
bor at Camaret, which followed, 
earned an equally craw estimate of 
5100,000 to S125JXX). The painting, 
done in 1873, is far from unattrac- 
tive to a connoisseur, but it is a 
dark affair in black and grey; there 
are few buyers for that sort of 
painting. Marion’s buy-in bid was 
$85,000. Even at that, tire Boudin 
would have been dearly bought. 

Still, mirades verier tTrn»< taVi* 
place: The painting that followed, a 
picture-postcard landscape by 
Gustave Cafllcbottc, using Impres- 
sionist technique, established a 

world record for the artist at 
S473.0Q0. Cailkbotie was a rich 
man who pa rm w -wri Tpup p wrionijtt 
painters, of which he formed a 
snmtriiMj collection, and dreamed 
all his ufe of becoming a great art- 
ist- He played a key rote in the 
history ot Irnpressransm. With the 
new awareness of historical signifi- 
cance in every fidd of ait collect- 
ing, ft is not surprising dial a rich 
and clever collector, Sam Jo- 
sef owitz, should have wanted one 
of Cafltebone’s best ashrevemcBts, 

What is unwise is to expect mir- 
acles of ihe most ordinary works. A 
pastel ponraii by Renoir of his son 
at age 2, very sketchily done, may 
have been salable at about 
S130JQ00 — its buy-in pice — but 

Hig h Point of Cannes 
Is Schrader’s ’Mishima’ 

By Thomas Quinn Curtiss 

International Herald Tribune 

C ANNES — Paul Schrader's 
screen biography of the Japa- 

screen biography of the Japa- 
nese author and nationalist Yulrio 
Mishina stands as the major event 
of the 1985 Cannes film competi- 
tion and appears destined Tot top 

Mishima’s career through his 
death by ritual sutride in 1970, at 
age 45, has been synthesized in an 
exemplary script tracing him from 
lonely childhood to emergence as a 
controversial public figure. Scenes 

fonner entertains the latter with his 
memories of a fflm. While he de- 
scribes it, excerpts from this film, 
set in Paris during the Nazi occupa- 
tion, are inserted. Embarrassingly, 
it is more than the film m 

which it is encased. Sonia Braga 
playing a Parisian vamp is this en- 
try’s sole asset 


from his plays and novels are in 
color and his personal experiences 

color and his personal experiences 
are in black and white. “MUrima" 
concludes with his last gesture — 
when he sought to fuse his fiction 
with reality — and with the suicide 
of one of nis fictional characters. 

A fiery individualist in a conven- 
tion-ridden society, Mishtma was 
the victim of many delusions. He 
evaded ntihtaiy service by feigning 
illness; later ire declared himself a 
samurai, took up body-buflding, 
recruited a private army and pro- 
claimed himself the restorer of na- 
tional purity and honor. His nature 
is perhaps best revealed in his ad- 
dress to rioting leftist students: He 
dted Thomas Mann as Ms modcLas 
a writer, then, when asked who he 
would most Ore to be, replied with 
a grin: “Elvis Presley." 

Schrader, with distinctive artist- 
ry, draws the background of Japan 
before and after World War II and 
during the 1960s. He avoids depict- 
ing the details of the finale, which a 
less tasteful director would have 
employed for shock value. 

Ken Ogata as Mishima delivers a 
characterization of imposing stat- 
ure. The dialogue is in Japanese, 
with subtitles, and there is a 
drowsy-sou nding commentary in 

In other Cannes screening 
rooms, Peter Bogdanovich's 
“Mask” is a moving tale, based on 
an actual case, about a boy with a 
fatal deformity falling in love with 
a blind girl Eric Stoltz as the boy 
and Cher as his mother lead it 
poignant reality. Marcello Mas- 
troiannTs portrayal of an adventur- 
er without conscience ot long mem- 
ory brightens Mario MonicdlTs 
adaptation of Pirandello’s “II fu 
Mattia Pascal" (The Double Life of 
Mathias Pascal), which otherwise is 
rather stodgy. 

Neither Lambert Wilson nor 
Jean- Louis Trintignant succeeds in 
breathing even a moment of life 
into Andre Tcchinfe’s inert “Ren- 
dez-vous.” The Yugoslav director 
Emir Kustorica in “Otac Na Sluz- 
benom Putu” (Papa Is on a Busi- 
ness Trip) — about a 6-year-old’s 
reactions to his father's arrest on a 
political charge — fails to come to 
grips with his story. 

Egypt's “Adieu Bonaparte" by 
Youssef Chahine, with Patrice 
Cbereau as the conqueror, has to 
do — in a daU, befuddled manner 
— with an Alexandrian family be- 

5225,000 bracket given as Soth- 
eby's estimate. 

Monet's “Les Sardes Pfcureurs," 
a confused study of weeping wil- 
lows, was bought in at 5900.000 
and never stood a chance of reach- 
ing Sotheby's Si-million to SIJ5- 


Hie following day, Christie’s 
made a relatively better score; esti- 
mates were; on the whole, more 
moderate. The sale total was $13.2 
minimi of which bougfat-in pic- 
tures accounted for just over $6 
mflBan, or 33 percent. However, a 
fhngp i ] painting, “La Rwnf r rfa 
Cirque , was bought in at 
S420.000, windi would have been a 
vastly inflated price. Most telling, 
perhaps, was the failure of a large 
Cubist still life by Braque, knocked 
down at S1.7 miffinn Professionals 
said this work was bought last year 
horn a New York dealer by a busi- 
nessman tr ying his hand at ait 
speculation. He sent it for sale 
again far too soon and apparently 
with a gigantic reserve, if Christie s 
of “over S3 nuBian” 

tnname any thing 

' Such obvious miscalculations 
suggest that it is high time for ama- 
teur speculators and auction 
houses alike to cool down a bit. The 
machin ery may grind to a halt if 
such manipulation continues. 

■ Large Diamond Sold 

A 55.91-carat diamond sold for 
5.5 million Swiss francs (about 

\ji Su** 1 

Norman Watt (left) and William Goodacre: Bad art “jumps 

In Pursuit of the Best of the Worst 

By Christopher S. Wren 

New York Tima Seme e 

xrANCOUVER, British Columbia — The life of 
V Norman S. Watt was transformed 16 years ago 

S2.I4 million) Thursday night to a 
London dealer, Lawrence Graff, at 

London dealer, Lawrence Graff, at 
Christie's in Geneva, but a 56.71- 
carat table-cut diamond, last de- 
scribed in the 17th cranny as part 
of the collection of the Mogul em- 
peror Auraagzeb and long believed 
lost, found no buyer. The .Associat- 
ed Press reported. 

when he walked into a shop in New York and 
gasped at the moonlit landscape, titled “Lana di 
Sera,” on display. 

“I’ve got to say, that’s the worst ofl painting I’ve 
ever seen.’’ Wart recalled teffing the proprietor, 
“m give you $4.95 for it.” 

“She said, ‘Give me $5 and it’s yours.’ " 

Watt took the canvas home to Vancouver, where 
it started his collection of the world's worst oil 
paintings. With a friend, William M. Goodacre, 
Watt spends weekends scouring thrift shops, flea 
markets and garage sales, driven by an aesthetic 
question: It may be art but is it awful? 

The answer ts deprcssingly affirmative. Watt 
and Goodacre have turned up armfttis of raspberry 
and lemon-colored horizons, menacing trees, life- 
less animals and top-heavy nudes. Watt, who di- 
rects extra-sessional studies at the University of 
British Columbia, insists that the market potential 
has bandy been tapped. 

“It's out there,” he said. “It is just waiting for 
BUI and me. It jumps out at us sometimes." 

It was inevitable that their discoveries would be 
shared with the public “After five years, we had 
about 200 oil paintings and our wives said, 'Get 
these damn things out of here, 1 " Watt said. 

So they approached Douglas Mowat. the of the 
British Columbia Paraplegic Foundation, propp- 
ing that the bad art be titled and auctioned ra 
money for research and rehabilitation of *P«J» 
injuries. _ _ T : -' 

In eight auctions, they have grossed more then 
$75,000. They have also duped at least two 
class art museums into accepting donations: The 
Priido in Madrid and the Henriugcin Leningrad 
have unwittingly accepted canvases from their oo^ 

The connoisseurs of bad taste limit acquititkis 
to oils and acrylics that cost $5 or less. They befit ai 
anything painted ou velvet or by tire numbers. "We 
do have standards." Watt said. 

Nudes fetch the best prices. "You can tcU jfsa 

bad mide if you can't see tire hands and feet* Waft- 

said, “because bad artists can't do hands and fed. 

The collectors also ferret out landscapes with 
such <m gapTw anomalies as streams running up-- 
hill “If it has bad perspective and it’s obvious, we 
try to snap it up,” Watt said. 

They have uncovered 34 oils by a retemfessiy 
un talented California artist, who, Watt said, “even 
hides the feet of animals.” 

As Norman Young, a professor of theater atihe 
university and a co-conspirator, recently pat it, 
“We ore giving belated recognition to artists who 
would never lave gotten it anyway." . . 

f- ! 


i tv; 


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• • ■' r'( 

f . . • :ir*t 

P ' -•■*■** | 

f Off-Hollywood’ Cinema Nurtured by Mavericks 

By Annette Insdorf 

A LTHOUGH American inde- 
, pendent filmmakers are hardly 

divisions, which emerged a few 
years ago. 

friended by one of the invader’s 
generals. Wim Wenders’ “Tcdcyo- 

“Pale Rider” directed by and 
starring Clint Eastwood, is a classic 
western. The adage “Never change 
a hit” has been obeyed scrupulous- 
ly, with happy results. Here is the 
untamed frontier settlement with 
its feuds, brutish bad men and in- 
nocence in peril until a mysterious 
stranger rides into town to right 
wrongs. Aside from a title derived 
from the Bode of Revelation, and 

generals. Wim Wenders' “ToJo/o- 
Ga” is a documentary visit to To- 
kyo that pays tribute to the late 
director Yasujiro Qzu, whom 
Wenders greatly admired. 

“Sugar Love,” by the Lebanese 
director Jocelyne Saab, accurately 
reflects the moods of wartime Bei- 
rut, according to those who have 
been there. Machine-gun fire plays 
a sinister accompaniment to the 
tale of a weary, middle-aged artist 
and his encounter with a young 
giri. This picture of a city in ruins 
will linger in memory. Wayne 
Wang's “Dim Sum” is Of sociologi- 
cal value, telling of the generation 
gap in a Chinese famfly in San 

Y~V pendent filmmakers are hardly 
a new phenomenon, it is only in the 
past two yeans that they have repre- 
sented a serious commercial alter- 
native to Hollywood movies. One 
prime reason far the .success of 
such recent films as “El Norte," 
“Stranger Than Paradise," 
“Choose Me.” “The Brother From 
Another Planet,” “Stop Malang 
Sense” and “Blood Simple" is a 
new group of distribution compa- 
nies that are increasingly involved 
in production and are cammiued 
to American independents. 

A budding filmmaker 10 years 
ago could moose only between -a 
studio deal (winch might deprive 
him of control) and begging or bor- 
rowing the budget (with no assur- 
ance that the final product would 
be distributed). Directors today 
have a new option. The healthy 
profits of the above-mentioned 
films have enabled their distribu- 
tors — Gnecona International, Is- 
land Alive, The Samuel Goldwyn 
Co. and Grek Rdeasmg — to ex* 
pand into production. For the film- 
makers, especially younger rates, 
they provide dose attention to indi- 
vidual fit™ often, sympathet- 
ic response to idiosyncratic or off- 
beat ideas. 

Richard ID Son’s Tomb 

i> . ] « v i tlj this phenomenon. 

spaces, tins western Ires a famili 


Restored in Yorkshire 

“Beqo da a Mother Anuria” 
(Kiss of the Spider Woman), the 
official Brazilian enny, directed by 
Hector Babenco, is in English. The 
American actors William Hurt and 
Raul Julia play South Americans 
lodged in the same prison cdL One, 
an eff e m inate shop- window de- 
signer, is up for trial on a morals 
chaise. The other is an idealistic 
revolutionary being questioned 
about subversive activities. The 

The Associated Press 

YORK, England — The tomb of 
Edward, only son of King Richard 
IIL has been restored after centu- 
ries of neglect, according to the 
Richard EU Society. 

Edward died in 1484 at age 11 at 
MukDeham Castle in north York- 
shire and was buried in the parish 
church at the nearby village of 
Sheriff Hutton. The tomb was 
damngflr! in tire following century 
and lata: covered with whitewash. 

“Specialized films" is no longer. 
an appropriate term to describe 
this phen omen on As off-Broad- 
way developed as an alternative to 
the high-cost big-name, mass-taste 
theater, perhaps “off-HoQywood” 
would best indicate the kind of 
films that are b eginning to chal- 
lenge the maj or Studios’ vahteS and 

The existence of these new com- 
panies (including SpectraFilm, 
which concentrates on fordgn-lan- 


guage films) can be sera as rath a 
response to escalating HOQywood- 
costs — with careful marketing and 
reasonable publicity budgets, they 
have been able to release films suc- 
cessfully far a fraction of the ma- 
jors’ productions — and as an out- 
growth of the studios’ classics 

Gnecom International, two and 
a half years old, serais to be in the 
forefront of this movement. The 
recently opened “1918" was the 
first film in whose production tire 
youthful executives of this New 
York-based company invested. 
Written by the Academy Award- 
winning Horton Foote (“Tender 
Mercies," “To Kill A Mocking- 
bird"), this story about a Texas 
famfly at the end erf World War I 
typifies some of the concerns that 
Gmeoom has demonstrated for re- 
gional cinema, development of new 
talent and high-quality drama. 

Gnecom has come a long way 
since taking on Robert Altmans 
“Come Back to the Five and Dime, 
Jimmy Dean, Jimmy Dean,” its 
first, risky but successful venture. 
With movies like Robert Duvall’s 
“Angelo, My Love,” John Sayles’s 
“The Brother Fran Another Plan- 
et," “El Norte" and “Stop Making 
Sense" (the latter two distributed in 
p a rtner ship with Island Alive), it 
has attracted investors as well as 

Its president and chief executive 
officer, Amir Malin. 31, rounded 
Gnecom with John Ives, a friend 
from law school After obtaining 
financing, they were joined by Ira 
Deutchman. a marketing whiz 
from UA Classics. 

“The concept behind Gnecom 
was to release American indepen- 
dent cinema." Malin said. “We 
started Gnecom with the idea that 
we’re working in partnership with 
the filmmakers, on a business level 
and an artistic leveL Financially, 
we structure deals whereby Gne- 
com will not see a penny on any 
Ghn unless the producer does so as 
wdL And on the artistic end. we 
give approval to our filmmakers 
over marketing; we develop the 
campaigns together, and then Gne- 
com. gffepfrimtes the campaign.” 

Deutchman, executive vice presi- 
dent for marketing and distribu- 
tion, said the basic marketing strat- 
egies at Gnecom . were developed 
by companies sneb as Cinema 5 for 

marketing foreign films in the 
United Sales: “These were then 
emulated by the classes divisions, 
and are now working Lo make inde- 
pendent American films accessible 
to audiences in a profitable way. As 
ihe majors have moved more to- 
ward megabuck productions, 
they’ve left open a whole middle 
area for intelligent adult film.” 

The market for “off-HoDywood” 
cinema has been expanded from 
limited openings in New York and 
Los Angeles to wider release pat- 
terns. Ives, tire executive director 
for corporate affairs, said: “We 
now have more dries where larger 
audiences want to see these kinds 
of films. We place a heavy emphar 
sis on promotion on a local level, 
tailoring our approach to each fflm 
in each city specifically.” For ex- 
ample, the first release of “1918” — 
shot in Texas — was in Dallas, 
foU<mingits gala premiere at tire 
U. S. A. Film Festival there. 

During its second year, Gnecom 
had a net profit of 27 percent on 
gross sates of S6.1 million. Conse- 
quently, it has gone into produc- 
tion, planning to spend $15 million: 
for five or six films. 

Sometimes such companies de- 
velop long-term relationships with 
filmmakers whom they fust no- 
ticed and nurtured. For example, 
Ben Barenholz of Circle Rdeasmg, 
which distributed Jod and Ethan 
Cora’s “Blood Simple,” revealed 
that “Circle will be producing the 
next Coen film. Our idea was al- 
ways that Circle wouldn’t be strict- 
ly a distributor, but a producer — 
and not even restricted to low-bud- 
get films." 

Even SpectraFilm, which has 
specialized in distributing foreign 

films such as Francois Truffaut's 
“Confidentially Yours” and Jean- 
Luc Godard's “First Name Car- 
men,” is getting involved with 
American independents^ as well as 
production. It will soon be releas- 
ing “A Fla* of Green," Victor 
Nufiez’s drama starring Ed Harris; 
it was shot in Florida. 

SpectraFHm had parity finance^ 
several films before production — •» 
notably Paul Cox’s “My First 
Wife," “Love Songs" with Christo- 
pher Lambert, ana Godard’s “Di- 
rective” —for the purposes of ac- 
quiring distribution rights. Now, 
“production is in the works," ac- 
cording to the company's director 
of advertising and pah&dty, Ssm 

This is also the case at the Sanut 
d Goldwyn Ca, which distributed 
“Stranger Than Paradise" and 1 BIS 
Forsyth's earty films; it & produ>!p 
ing “Once Bitten,” starring Lauren 

What this means far fiftnmakera 

( urr 

i f) Id. 

: 3 <• 

I -I 


was summed up by Jonathan 
Demme: “I went on the road with 

a t - ' ; *»■■* 

J. _ * 

J -=V- 

f:.; ■••••' - 

1 1—" 

; P* a- 

•Stop Making Sense,’ into so many 
theaters that are spreading out 
across America — Seattle, Hoo* 
ton, Washington, Boston — and 
showing more offbeat, original 
kinds of movies. America finally 
has a growing alternative avenue, 
not only of exhibitions but _ — 
working back through distri bution 
— of production.” 

ii - * ■’*>.»»» 


-’’-i | 

'•v*; i, ®»" 

N •/. r *- 

Ik- ' ~ 


• - a. 

Annette Insdorf, an assotiate pm-. 

Truffaut * and “Indelible Shadow?:: 
Film and the Holocaust" This is 
excerpted from an article die wrote 
for Tne New York Times. 



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U.S. Stocks 
Report, Page 8 




Page 7 


31 Some See GimmapiGation 
As Siimimt’IGreatest Boon 


■ New Tuna Service 

W * ASfflNGTQN — About two weeks ago, President 
Ronald Reagarijoixted the leaders of the worid’sstx 
other mmoruadistrial democracies in Bonn to taclde 
the probums <r an uncertain wodd economy. As the 
dust settles over tbd* dediraliems, the Booh summit conference, 
like its 10 predecessors,^ fade into the ohlmon oT economic 
history, to become just nother reference point for next year’s 
. meeting, to be held mT$tyb. . i_ 

1 Tiltr. the other summicoufcnaices, however. Boimis tikdy to 
be reconfed as a socces^n sonm counts* a failure on others. 

For the Reagan adnBDStration the enrioraemeat of the free- 
-market, smaU-governnent • ; ' • — 

views' that the other Monies 

LTV Sets 

$400 MiMon 
To Restructure 



<>f the IF 


* r. 

, i 

'■'■■i.'l.i' M.v 


-Uitfa ,■[ to. 

views that the other canines . 
had widely ridiculed wfcn the Jost. by bringing 

president first todfcjoffice ~ ' ’ * 

marked a stunning idetogjcal 
achievement. J ' 

In the one area vrixe the 
participants faced a oncrcte 
decision, Bonn faBedmJwev*- 
ex. For domestic pdical rea- 
sons, a nd for soancecxmomic reasons as well, the 
- administration set o for Bonn with an .appeal to the 
- ¥ participants to schedle a new series c£ woriowide tradeJiberal- 
ization negotiations Ijfflpmng early next year. " 

President Francoi^Ctterrand of France, for his own domestic 

conferences can 

smooth rough edges. 

nothing to discourse national legislators, incfridtng. the /US. 
r>mgrAc<t from mong ahead with protectionist laws in retalia- 
tion agains t other enmines that protect their own domestic 

i*? 1 • 

u!Z; J " r,a W:h 

' *-r‘ >3 LfJ^r 

The Associated Pros 

DALLAS —LTV Carp., the <5-- 
verafed aerospace and steel con- 
cern, said Friday that it would take 
a 5400-million charge against sec- 
ond-quarter earnings lo restructure 
its floundering LTV Steel Corp. 

The unit, crea t ed only last year 
after LTVs S77Q- mflli on accuiffl- 
tion of Republic Sted Corp, is the 
second hugest US. steelmaker af- 
ter U.S. Steel Corp. . 

The reorganization, which com- 
pany officials said would improve 
cad) flow by $700 milli on over the 
next two years, will include the 
dosing of most of LTV’s giant steel 
works in Aliqurppa, Pennsylvania, 
with the loss of 1,300 jobs. 

As previously reported, LTV’s 
first-quarter loss widened to $156.4 . 
million from $29 miTli nn a year 
earlier. Much of (he deficit mme 
from the sted division, tnrfnrimg 
t?li milti nn alone front AliflUrDDa. 
officials said. For all ) 984, the com- 
pany reported a loss of $378.2 mD- 
ion, compared with a loss of 


' •* -iKai .iiqsa^. 
Thnl*4 : 
r.utntat t" 

JHREE wds before the smnmit conference, Treasury 
-Secretary Jnes A. Baker 3d had vrihmteered the United 
States as tf possible host of an international meeting to 
consider such ahjsuc. Although the proposal remains alive, in 
Bonn it proved negotiating tactic to deflect a more ambitious 
monetary-revisic proposal expected from the French. But the 


, . v monetary-revisic proposal expected from the French. But the LTV said it would rasmor 

‘ ^ - & tea j-r* .French said lxttlabont monetaiy revision, so President Reagan separate and new companies 
*\ " ‘ withdrew the pit " ‘ LTV Sted Corp, which is ba 

\ ^ Thus, hnth wmbKcans and Democrats in Congress, who are Cleveland. Each company 

'* T : ‘ --’ivjKvs- .Mcitiu. ♦« rwressinna] dectirms next viear and the effects of haveits own management am 

-,r> TTlJEgj 

. raais 

sensitive to co^essioaial elections next year and the effects of 
the nttpmfltirn i ecoaiomv mi their own constituencies, found 
tittle in the Bq> conunnmqufcs to please ifaem. - 
u Tve read ipasse, I sense failure,” said Representative Don 
Bonier, a De^crat from Washington. “Mr. Reagan can lav a 
wreath tight ere at the cemetery of economics as far as 

1 rt. » nnnrtifcA ka LiWtwl ** 

concerned bense everything seemed to be buried.” . 

Toby Roth, Republican of Wisconsin, said: 

Represents Toby , — r . , — — 

“They estabticd that they are committed to free trade. 
Bat we wearrt able to establish a dale for a new trade : round.” 

But som£tat£&nexi, Reagan administraiion officials and 
many w terff onal economists <^for a more diaritaide view of 
economic smut meetings, iprinding the one at Bonn. 

Just by frgfog the seven leaders together, smh conferences 

Just by iPg a *& tuc seven, lcaacrs logetner, suen conrerenccs 
J lt \lr»a’S3indl’c'i can smooti 16 rough edges of thdr disputes. “I think the sunnuit 

||> :fta\rllWj? isworth^ift*^h«^of s *at e i l,st « tdowttandli,Ikto<5ne 

• anothex,” L Baker said. “It h^s prevent misunderstanding. It 

helps the ranee.” ■ 

It may ^mneasoriaWe to earoect anything more concrete from 
a snmimtatierence. The world economy ticks to two dodcs: the 
fast doeof recessions, recoveries and other features of the 

(Conttaned on Page U, CoL 3) 

.V. \2 

Vc' -t 
>•;» ‘*2£t 


ion in 1983. 

LTV said the changes, an- 
nounced to share hol ders at the an- 
nual meeting, “win strengthen the 
balance sheet, maintain liquidity 
and provide funds for growth — 
particularly in the aerospace-de- 
fense sector.” 

LTV said it would fashion three 
separate and new companies out of 
LTV Sted Corp., which is based in 
Cleveland. Fmmi com p any would 
haveits nan manmgpment and mar - 

keting staffs and each would be 
expected to cut costs and increase 
efficiency. The three new sted divi- 
sions would include a bar and flat- 
rolled steel division, a tubular- 
products division and a 
sperialtyprodncts division. 

After the announcement, LTV 
stock fefl 623 cents in late trading 
on the New York Stock Exchange, 
to S8. Volume exceeded 1 miffinn 

“The decision to idle. 

— a facility on which U 
more than S600 mpon to 
efficient, ^ competitive and environ- 
mentally safe — did not come easi- 
ly,” LTV’s chair man, Raymond A 
Hay, told shareholders. 

LTV trials denied speculation 
that the restructuring was a prdnde 
to spinning off the division. 

Muftinatfonaf Investment 

Gross inflows of foreign direct 
investment to industrialized and 
developing countries (excludes 
Eastern bloc); in billions of dollars 

Industrialized Countries 

Europe, United States. Japan, and 

Share of the Flo w 





■ Developing Countries 
Includes southern Europe* *. Africa, 
Latin America, the Caribbean, Asia, 
and Pacific islands 














■Ofhfer Astaand-tfie Facrftc 

12 ^ 

Africa - ■ ‘ 


WestAs^;':- - 


Source: United Nations Center on 
Transnational Corporations 

'Australia. New Zealand. South Africa, 
and Canada 

' 'Greece. Cyprus, Malta, Portugal, and Spam 

A New Welcome for Multinationals 

Burdened by Debt, Third World Now Seeks Investment 

By Nicholas D. Kristof 

Nat York Tima Service 

NEW YORK. — A decade ago, multinational 
companies were widely viewed with distrust and 
outright hostility by the developing countries. 
Alarmed by the companies' intrusions into local 
politics and overwhelmed by their economic 
might, many countries nationalized foreign hold- 
ings or placed tight restrictions on new invest- 

But today, from China to Algeria, from Austra- 
lia to Nicaragua, foreign multinationals are find- 
ing warm wdcomes almost everywhere 


the companies are being 

j and industrialized countries alike. 

“We feel that it is better to have partners than 

creditors,** Francisco Swell, Ecuador's finance 
minister, explained in a telephone interview. “I can 
say that with full authority, having just refinanced 
our foreign debt” 

Mounting foreign debt, and the problems devel- 
oping countries have had repaying it, is a prime 
reason why foreign direct investment suddenly 
seems more attractive. Until the debt crisis that 
began a few years ago, borrowing seemed better 
than foreign investment as a way to attract capital 
Loans could be used for whatever the country 
wanted, and there were no foreigners brought in to 
interfere with local economics or politics. 

Bui it was found that borrowing resulted in 
more, not less, foreign interference. For when 
debts could not be repaid, the banks and the 

(Continued on Page 13, CoL 1) 

Discount Rate 
In U.S. Is Cut 

V 2 Point, to 7.5% 

CivepikJ to- Our Stuff From Dispatches 

WASHINGTON —The Federal 
Reserve Board, moving to stimu- 
late a sluggish U.S. economy, on 
Friday lowered its discount rate by 
half a percentage point, to 7J per- 
cent. the lowest level in more tnan 
six years. 

Minutes alter the Fed's an- 
nouncement. Citibank in New 
York, the largest U.S. commercial 
bonk, lowered its prime lending 
rate 10 10 percent, from 10.5 per- 
cent. The prime is used as a base to 
determine rates on loans to banks’ 
most creditworthy corporate cus- 

Citibank became the second ma- 
jor U.S. bank to push its prime rate 
to its lowest level in 61? years. On 
Wednesday, eighth-ranked Bank- 
ers Trust Co. in New York initiated 
Lhe reduction, and credit analysts 
said they expect other big hanks to 
follow suit 

The Fed said the new discount 
rate lakes effect Monday. The dis- 
count rate is the lending rate 
charged by the Fed 10 banks and 
other depository institutions. The 
Fed's action was taken against the 
background of relatively “un- 
changed output for some time in 
the industrial sector of the econo- 
my. stemming heavily from rising 
imports and a strong doUar,** the 
Fed said. 

The announcement went on to 
note that although inflation con- 
cerns linger in some areas, prices 
“appear to remain relatively well 
contained in goods producing sec- 
tors of the economy, and sensitive 
commodity prices ore generally at 

the lowest levels in about two 

“In this setting a reduction in 
the discount rate, consistent with 
the declining trend in market inter- 
est rates over recent weeks, appears 
appropriate,” the Fed said. 

When the new rate takes effect 
Monday, the discount rate will be 
at the 'lowest level since August. 
1978. when it was 725 percent. 

The discount rate has been run- 
ning about 2 points to 15 points 
below the commercial banks’ prime 
rate, a base from which banks peg 
many of their commercial loans. 

The one-half percentage point 
drop in the discount rate was ex- 
pected by many analysis to acceler- 
ate a trend toward lower interest 
rates throughout the economy. 

The U.S. economy turned in an 
anemic annual growth rate of 1.3 
percent during the first three 
months of this year, the slowest 
pace since the end of the lost reces- 
sion. The weak growth had raised 
•concerns that the economy could 
teeter into another recession in 
coming months and had led to 
growing pressure on the central 
bank to loosen its credit controls as 
a way of spurring economic 

A change in the discount rate is 
the most dramatic tool the Federal 
Reserve has for signaling its inten- 

The Fed raised the discount rate 
to a record high of 14 percent by 
the spring of 1981. While inflation 
was brought under control, the 
high interest rates also brought on 
the steepest recession since the 
Great Depression. (AP. Reuters). 

Court Reverses Unocal Ruling; Pickens May Be Excluded 

The Associated Press 

WILMINGTON, Delaware — 
The Delaware Supreme Court re- 
versed a lower court on Friday and 
hdd that Unocal Carp, may ex- 
clude T. Boone Rickens Jr. and his 
partners from participating in a lu- 
crative stock-repurchase program. . 

Tbe company’s offer to rqwr- 
chase 50 xnulion shares, or 29 per- 
cent of the stock, with securities 
valued at $72 a share is a corner- 
stone in Unocal’s efforts to derail a 

hostile bid by Mr. Pickens to gain 
control of the company, the parent 
of Union Oil Co. of California. 

Earlier, Mr. Pickens had ob- 
tained a prddminaiy injunction 
from Chancery Court in Delaware, 
where Unocal is incorporated, to 
prevent Unocal from going 
through with the repurchase unless 
his group was allowed to take part. 
But in an appeal heard Thursday 
by a three-judge panel of the Dela- 
ware Supreme Court, the prelimi- 

nary injunction was overturned. 

“While we cannon boards of 
Delaware corporations that they do 
not have unbridled authority to 
take draconian measures to fend 
off threats, we view Unocal's action 
as withuTjceasonable practices, the 
high court said. 

Unocal, in a statement released 
at its Los Angeles headquarters, 
said it was pleased with the ruling. 
It said the offer already was over- 

subscribed, with about 60.4 million 

shares tendered as of the close of 
business Thursday. Unocal stock 
dosed Friday at $46, down 50 

Warren Veith, a spokesman for 
Mr. Pickens, was away from his 
office in. Amarillo, Texas, and was 
unavailable^ far immediate com- 

Mr. Pickens is chairman of Mesa 
Petroleum Co. and heads Mesa 
Partners U, an investor groim that 
already owns 13.6 percent ofUno- 

cal's stock. The partnership has of- 
fered to buy an additional 64 mil- 
lion shares at $54 a share in cash to 
raise its stake in the company to 
50.1 percent 

Die Pickens group paid an aver- 
age of $46.41 a share for its Unocal 

If Unocal goes through with the 
offer, it would take cm an addition- 
al $3.6 billion in debt, making a 
takeover less attractive and hairier 
to finance. 

May 17 

U.K. Industrial Output Some Officials See End to U.S. Savings Institutions 
increased 1.9% in March 

By Rjobert; A. Bennett 

New York Tima Service 

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LONDON — British industrial 
production rose a provisional L9 
percent in March after an upwardly 
revised 0.4-percent gain in Febru- 
ary, the government reported Fri- 

lhe index of industrial output 
was set at a seasonally adjusted 107 
in March, up 3.7 percent from a 
year earlier. Theyear-toyearrisein 
February was 0 J percent 

Manufacturing output increased 
1.4 paces tin March after a revised 
1.5-percent increase in February. 
The March index was 1032, up 33 

UJL Prices Rose 
Shcupfy in April 

NEW YORK — Although the 
recent runs on savings and loan 

associations in Ohio and Maryland 

have been confined to privately in- 
sured institutions, some in govern- 

ment »rid the financial c cwnm nnii 


■ LONDON — British retail 
prices rose 11 percent in April, 
aftcrMarch's OJT-percent increase, 
the Department of Employment 

say that the problems of the 



CMdo Senate blocks sale of thrift 
to Chemical. Plage 11. 

percent from a year earlier, coin- 


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Interest Rates 

pared with a downward revised 
year-to-year rise of 33 percent in 

Government sources said. that. 
half the 1.9-perceot increase in in- 
dustrial output in March was 
caused by increased coal produc- 
tion after the year-long miners', 
strike ended early in the month. 

Die year-to-year rate in April 
was 63 percent — the highest since 
Sqjtembcr 1982 — compared with 
6.1 percent in March. , 

Tom King, the employment sec- 
retary, said: “It was expected that 
there would be same increase in 
inflation through the noddle of ibis 
year before the levd fefl back 
significantly towards the end 

industry are so severe that within a 
few years savings institutions wifl 
cease to exist 

Because the vast majority arc in- 
sured by a gencies of the federal 
government, depositors are not ex- 
pected to lose any funds. But the 
eventual cost of baiting oat tbe sys- 
tem is expected to be extraordinari- 
ly high, perhaps more than 5100 
Trillion. Those costs wfll have to be 

borne by some combination of 

■ ' 

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percent from the final quarter of 
1984, they said. 

Energy and. water supply rose 6 
p er ce n t in the latest quarto:, re- 
flecting increases in electricity and 
gas supply due to the weather, 
higher production of North Sea col 
and gas and sock recovery in coal 

The government sources said the 
rate of growth in manufacturing 
industries is slowing. The underiy- 
ing trend in the energy sector is flat, 
they added, but increased coal pro- 
duction will contribute to higher 
indastriai-production figures for 

•' Separately, the govemmmt’s sta- 
tistics office reported that produc- 
tivity. in mamriacturing- showed 
signs of picking np in tire first quar- 
ter after flattening emtio the sec- 
ond half of 1984 . 

It said that output-per-hour in 
manufacturing increased an infla- 
tion-adjusted, seasonally adjusted 
. 1.1 percent in the first quarter after 
having fallen 1 percent in the final 
quarter of 1984. The year-to-> 

23 percent, it said. 

Meanwhile, the Employment 
Department said Friday that unit 
wage costs in manufacturing rose 
4£ percent in the year ended 
March 31, after a revised 46-per- 
cent increase in February. 

stockholders, acquirers of the insti- 
tutions and the government. 

According to the Federal Re- 
serve Board, at the end of January 
total assets of the nation’s savings 
banks and savings and loan associ- 
ations amounted to $1.1 wfltirm . 

The dire outlook was laid out 
several weeks ago by Willi am M. 
T ffl iac, chairman of the Federal De- 
posit Insurance Carpn at a closed 
mw-ring of the Association of Re- 
serve Qty Bankers. 

Mr. Isaac declined to discuss Ins 
remarks. But bankers who attended 

the meeting said he bad predicted 
that savings banks and savings and 
loan associations would not exist 
within a few years. 

Mr. Isaac said that to deal with 
their problems — deteriorating 
loan quality and continuing pres- 
sures of high interest rates — tbe 
institutions will have to be given 
full banking powers. The stronger 
thrift units mil survive as commer- 
cial banks, he said, and others win 
be absorbed by commercial banks. 

That view is not unanimous. “I 
could not disagree with him more,” 
said Edwin W. Gray, chairman of 
the Federal Home Loan Bank 
Board, the chief regulator of the 
savings and loan associations. Mr. 
Gray, who also beads the Federal 
Savings and Loan Insurance Corp., 
said that 1985 will be a profitable 
year for many savings and loans, 
but he acknowledged that some are 
“helplessly insolvent.” 

He also said he disagreed “ada- ' 
mantly” with Mr. Isaac’s predic- 
tion that the two federal dep osit 
insurance agencies, the FDIC, 
which insures commercial and sav- 
ings banks, and the FSLIC, which 
insures savings and loan associa- 
tions, would be merged. Mr. Isaac 
reportedly said that would occur 
within the next two years. 

Among private analysts, even tbe 
most optimistic say that ai least 10 
percent of savings and loans are 
likely to fafl. 

Mr. Isaac's prediction that com- 
mercial banks would be expected to 
take over many thrift institutions 
startled many of the bankers and 
caused them to view the problem 
more seriously. Mr. Isaac reported- 
ly noted that the FSLIC bad only 
about $7 billion in equity and that 
less than $4 billion of that was 
available for rescue operations. 


“We have the potential for a very 
serious thrift crisis in tins country,” 
Willard C Butcher, ehujrm an of 
Chase Manhattan Bank, told a 
meeting of the Business Council 
last week. 

For decades, savings institutions 
have been the financial backbone 
of the homo-building industry. Af- 
ter commercial banks, they make 
up the second-largest financial in- 
dustry in the United Stales. 

In Ohio, the cost of reimbursing 
depositors in the failed Home State 

Savings Bank is expected to be 
l Tnatinci 

about $17 5 million. That includes a 

SSI -million investment by New 
wnidb is 

York’s Chemical Bank, 
seeking to acquire Home State, 
plus $125 million to be contributed 
by the Ohio govemmenL 
Also in Ohio, Chase Manhattan 

depend on enactment of a law that 
would allow them to convert the 
thrift units into full-service, com- 
mercial banks. 

In Maryland, legislators are con- 
sidering sdling up to $300 mil l ion 
in bonds to rescue that state's pri- 
vately insured savings and loan as- 
sociations. • 

And in both Maryland and Ohio 
the assets of the privately insured 
institutions are relatively small, $9 
billion and $4.8 biDioxL. 

In New York, moves are being 
taken to rescue Bowery Savings 
Bank, which already depends on 
$171.6 million in capital notes from 
the FDIC to continue operating. 

According to industry sources, 
the U 5. Treasury will be the largest 
contributor to Bowery’s rescue. 
Thai is because tbe market value of 
Bowery’s assets are estimated at 
51.5 billion less than the value at 
which they are carried cm the 
books. That would give the inves- 
tors a huge tax loss. At a 50-percent 
tax rate, the cost to the Treasury 
would be $750 milUon. 

Most worrisome to many ana- 
lysts is »ha» many savings institu- 
tions suddenly are dealing with a 

(Continued oa Page 11, CoL 3) 

Bank has agreed to invest about 
$25 million to acquire six smaller 
savings and loan associations. The 
Chemical and Chase acquisitions 

C-S. Attorney Mlarfceft Ponds 

J fay 17 

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Markets Cleed • 

Financial markets' 1 * <3osed ftidqy m Belgium for aiofiday. 

Bullish investment Fund 

Soci&t Anonyme dTnvxsdsscmcm 
Luxembourg. 37. rue Notre-Dame 
R.C Luxembourg B 21599 

Artis de convocation 

Messieurs les Aciionnaires *om corivoqu£s par le prisem avis 4 
rAssemblee Gfcofrale Statutaire quiaora Hen Ie28 mai 19854 15J10 bones 
daMles6ureauz<telaK redi e t ba nk SAIjoeemboiii^one.43.Boufevaid 
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+ % 
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+ ft 

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Dow Jones Averages 

On* hwi Lew Lost cm. 

■Mae 127603 T39540 W9I,B I2B5J4 + M9 

Trans 41708 42 644 414J9 62206 + *9(j 

Util 16Z19 MU7 1*1 02 164,75 + 2 n 

COTO 52144 531*7 mi* 529.8? + 05 

NYSE Index 

hwi Law Close ctrge 
Composite 1BS08 10709 108-48 + 0.98 

industrials 12111 12SL44 mil +B.g 

Tronso. 10XS3 ■« IM-g +8-5 

utllllln 5178 5BJJ1 5178 +a« 

Finance 11122 117J7 1102 +a 95 

Dow Jones Bond Averages] 






+ 089 
+ 0.18 

NYSE Diaries 

Total issues 
New Highs 
New Lows 
Volume un 
Volume down 














Odd-Lot Trading in N.Y. 

May It 

May 15 
May 14 
Mav 13 
Mav 10 

Boy Salas 
181391 409,382 

181948 44X857 
191844 433812 
207897 447.14* 
207899 488859 

‘included In me sales Roures 









VoL 014 PM. 


Pm.4PM.V0L 99428401 

PrevamsoRdafedcioK 1M68MM 

Table* Include the itaHonwfde prices 
up to the dosing on Wall Street and 
do not reflect late trades elsewtwre. 

Via The Associated Press 

AMEX Diaries 

Total itnm 


Now Lows 
volume up 
volume down 












1.977 JOO 



Week roar 












. 24023 


+ 1.95 28784 

+ 187 34500 
+ 182 277 JB 
+ U1 27081 
+ 182 ZULtl 








Standard & Poor's Index 

HinB Law Class cine 
Industrials 20785 2®45 2019* +109 

Tramp. 142.17 15989 1*189 +183 

uiwmS m SJ3 m +i® 

Finance 2324 22.92 2X19 +022 

Composite IS7J4 18587 18782 + 1J76 

AMEX Sales 

AMEX Most Actives I,* 





+ ft] 




+ H 







4 Pjw. volume 

prev. 4 pjvl volume 
Prev. ggna, volume 

4040000 | 


aaafx Stock Index 


+ 133 

12 Monte 

HWi Low Start 

Phr. Ylll. PE MKMohLow 



S* 14 AAR 

19 9M AGS 
US 99* AMCA 
21ft 13% AMP 
45 241* AMR 

££ 2.11 105 

45V* 44b ASA 2M 


20 13 44 17 16b 17 

12 44 15 14ft 14ft - bJ 
21 11b 11 11 — % 

27 54 1207 18b 18ft 18% + ft 

IT 5483 44 45 <m,+J 

450 209* SOM 204* 

S3D sm 50 50b— Ml 

I New York Stocks Advance 7.29 

The Associated Press 

E_, {J* A!*® „-S 10 13 247 15* 14ft l»- it 


- —*^’2 a 17 »sr as** 

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32 20 4 



11 30 
23 14 

211* 12ft AoneC 
lOJ* 79* AemeE 
17M 15 ArtaCx 
11b AdmMl 
1!S -P* AdvSvs 
4Ut 25ft AMO 
» «* Advest 
Mb W Aerftox 
27b AehlLt 
an* 3ZM AotLpf 
3* ISM Alarms 
3b JM Alieen 
52 389* AlrPrd 

24M 13 AlrUFrt 

Z 1 AIM003 

2? 21 AlaPpf 

32b MX AtoPplAX92 II J 
> * AlaP dpf 87 11.1 

«Vi *11* AlaPpf 980 120 

81 AlaPpf ,84 11 J 

2 % AloP pf 81* 117 

M 3* AlaPpf 838 123 
12* 11 A lapses 184 *8 
22J* 91* AlskAJr .14 8 

171* 10V* Albrto S 
33b 22 Vj ARHsns 
311* 231* Alcan 

3*1* 271* AJcoSld 

32 17 AlexAtx 1J0 

26b 2DM Alexdr 20 

Mb 7m- AIKjCp 24MI 28 24 
2HM IBM AM Ini 180 58 
2D 151* Alamo! 2.19 118 
94 81 AtglpfCIlTS II J 

32b 244* AllflPw 2JV BJ 9 
20M 15M AllenG 80b 12 14 
4*M 2S% AlkfCp 180 48 8 
M 534* AWCp pf *74 108 
113b 99 AWCppfUOO 11.1 
10714 WOM AUCof 12810117 
23*4 121* AlldPd 
59Vt 38 Alias Ir 112 19 
I2M 51* AlltsCh 
349* 24 AJlsCpf 
TPM 20 ALLTL 184 
3f*i 29M AICOO 180 
23b 15b Amax 70 
41b 32b Amax of 100 
34 22M AmHM 1,10 

2M lb AmAgr 
20 15b ABakr 

70 53 ADrand 190 

28 24M ABrd pf 275 

115 S5V. ABdcsf 180 
24b 19b ABklM JM 
27b 20V* ABusPr M 

NEW YORK — Stock prices staged a broad 
advance in active trading Friday, pushing sever- 
al market indicators to record or near-record 

Electric, natural gas and telephone utility 

I issues were among the day’s standout perform- 
ers as the Dow Jones average of IS utilities 
surpassed a peak that had stood for two de- 

The Dow Jones average of 30 industrials 
climbed 7.29 to 1,28534, finishing the week 
with a net rise of U.I6 points. That left the 
si? *1* ^ * industrial average short of its record closing 

“ 33 * £m 33* + 5 * li ^ 1 of , - 99 - 36 - reached on March 1 of this 

84 7i* 7M 7i* + b year. 

ioi& m ” n +im B y contrast, the Dow Jones utility average, 

34401 3b 6?b— b w ’ 1 ^ 1 a 2-92 gain to 164.75, topped its previous 

« ip* + v* dosing high of 163 J2 set on April 20, 1965. 
i7i ?B* 1*9* S'* +i2 Volume on the New York Stock Exchange 
stepped up to 124.63 million shares from 99.42 
million Thursday. 

Analysts said buying was encouraged by ex- 

■12 1 J *8 9b 9b 9b + M 

12 SB 12b 12b 12b + M 

284 57 34 4430 46b 45b 46 + b 

5BM10S 304 551* 559* 55M 
180 28 14 2893 25*. 34M J5M— 9* 

22 51 3 29* 21* 

180 28 12 2*04 52b 51 52b +1M 

80 28 12 


22? 33 31M 32M— b 

180 48 13 4865 2*b 25M 2Cb + M 
170 38 12 141 349* 341* 349* + M 
38 450 289* 27M IBM.— b 

496 23M 22M 2394 + 9* 
B0b 79b 79b— » 

*8 9 *1 2*M 26b 3*M 

38 17 2330 34U 33 33M + M 

17 579 TOM 1AM 1<M 

9.i “• .. 

X* 71 8327 JM JM* 30**— M 

82 2 19* 2 + M 

B 44 199* 199* 1OT* + I* 

68 9 433 651* *41* *5b 

98 7 27M Z7b 27M 

18 17 1098 110M110 HIM + ** 

37 13 18 2*M 26b 261* + I* 

28 14 12 25 2S 25 

55M 40M Am Con 280 52 11 1023 56 55V, 55M + M 

25M 21b A-jjn pf ZX 118 525M25V.25M + M 

48b 34 AConpf 3J» *1 14 49 48b 49 + b 

112M1D3 A&m pf 1X73 112 2 113 113 113 + 1* 

20 16M ACopBd 220 11.1 71 191* 194* 19M 

3191 25b ACaoCv 28M 88 21 29b 29M 29b + b 

11 *b AConfC 101 43 7M 71* 71*— 1* 

56U 43M A CVon 1.90 38 13 4209 53V. SIM S3 +IM 

29M IBM ADT 82 XB 25 105 24M 24b Mb— 1* 

XMalOJ B 4039 22** 21M 22b 

170 28 IS 0433 46 45 45b— Wi 

84b 28 14 591 31b 30b 31M +1 

180 38 10 2022 BM 33b 33M + M 

52 149* 14W 149* + 1* 
201 551* 55*4 55** + I* 

in mm 24b 24M + m peciauons of a reduction in the Federal Re- 
14 «b TO* Mb i w serve’s discount rate. 

iw wb wv! + w Those hopes were fulfilled after the dose 

7 b6 S sz& V* n ^ ieQ ^ announced that it would lower 

a in low, im + b the rate it charges on loans to private financial 
17 'n *rn* 'u '“w + v. institutions from 8 percent to 7*t percent, effec- 
8, fS dw Monday ^ ^ ^ , 

s 29b 29b 29b Moments bier. New York s Citibank cut its 

prime lending rate from 10*4 to 10 percent, 
T |jb ai? J5y!-_ v* | matching a reduction posted earlier in the week 
by Bankers Trust of New York. 

The Fed's policy-set ling Federal Open Mar- 
ket Committee is due to meel next Tuesday. 

An easing of credit policy, and any resulting 
decline in interest rates, would stand to revive 

economic growth after a period of sluggish 
statistics in recent months. 

As large users of capital, and as popular 
candidates for the portfolios of income-con- 
scious investors, utility stocks are often espe- 
cially sensitive to changes in interest-rate expor- 

Among the electric companies on Friday’s 
list of new 52-week highs. Consolidated Edison 
of New York rose 1H to 35; Boston Edison H to 
40tt; Potomac Electric Power 1 to 32; Southern 
Indiana Gas & Electric I to 26 tt, and Southern 
Co. ft to 20ft. 

In the regional telephone sector. Bell Atlantic 
gained 2ft to 90ft; Nyncx 2 Vi to 87ft; Ameri- 
tech 2 to 89ft; Pacific Telesis 1ft to 73ft, and 
BeD South 1ft to 40ft. 

Elsewhere in the market, drug, re tailing and 
computer stocks also turned in strong showings. 

International Business Machines helped pace 
the blue chips with a 1ft rise to 130ft. 

In the daily tally on the Big Boand, more than 
five issues rose in price for every two that lost 
ground The exchange's composite index added 
0.98 to 108.48, hitting a new high for the fifth 
time in Lhe last six sessions. 

Nationwide turnover in NYSE-listed issues, 
including trades in those stocks on regional 
exchanges and in the over-the-counter market, 
totaled 148.26 million shares. 

Standard & Poor's index of 400 industrials 
rose 1.69 to 206.96, and S&Ps 500-stock com- 
posite index was up 1.76 at a record 187.42 

The Nasdaq composite index for the over- 
the-counter market picked up 1.95 to 291.70. At 
the American Stock Exchange, the market value 
index closed at 230.76, up 1 J3. 

12 Month 
HWl Lou Slock 

Oiy. YML PE 



Own. arte 

22b 15b AElPw 
4* 25 Am Exp 

30M 1«M AFomll 
34 l«H AGnCp 
14M * A Gnl wt 
57 51 M AGfllafA *24*11 J 

91b SOM AGnIpfB587e *4 

68% 40b ACnpfD 384 
12M 7b AHolSt 
62b 4*M AHamo 390 
38 2*V* A Hasp 1.12 

B8V* *2M Am rich *80 
85 52 AlnGrp 


7 71 W 91 


97 *7b *714 67b + b 
119 10b 9M 18 + I* 

48 13 2251 ATM AIM «2M + 9* 
38 10 *227 JIM 31V* 31V*— b 
78 9 5*1 90b STM 90 +2b 

S 24 1955 BAM 84 SAM +2b 

140b 112b AIGpPf 5J5 4.1 8 141 141 141 +M 

2Bb 18b AMI 72 28 13 3049 259* 25b 259* + M 

5b 2M AmMot 1276 3b 29* 3 

43b 23M APrasid 28 3 1457 2*M 26b 26M + b 

13M 5 ASLFIa 

18b 12*4 ASLRpf X19 158 
1* 10M AStilp 80 78 9 

35M 22 f* AmStd 180 58 ID 
SAb 26b AmStor M 1.1 10 

S M 46b AStrpfA *38 48 
b 15 ATXT 170 XI 17 
39M 30b AT&T pf 384 98 
40 31b AT&T Of 374 98 

Z7M 14M AWatrs 180 37 9 
28b 19b AmHott 280 128 8 

584 78 

70M 53M ATrPr 
12b 4M ATrSc 
B2M 581* ATrUn 584 
34M 26b Airman 180 
48 20 AmosOa 80 

29b 21M Ameft* 80 
27b 1BV* Amfac 
1* 8M Amfosc 
*9 50*4 Amoco 

38b 2Ab AMP 
24 UM Ampca 
219* 12b Amropi 
31b 19 AmSttl 
43b 25M Arrwod 
4b 1b Anacmp 
24b 15b An loos 
30M 191* Anchor 188 
42b 24b AnCkrv 182 
12*4 »b AnOrGr 80 
24 1*M Anaollc 84 

B4b 59b Animus 3L00 
28b 19M Anhou vrl 
60 45M Anlmupf 380 

19M 13b Anlxtr 88 
l*M 89* Anthem 84 ^ 

151* 10b Anttmy 84b 35 8 
14b 9*4 Apacha 88 28 11 
2b b AptiiPwf 
19b 15b ApchPurO.10 11.1 
*8 55b ApPwpf X12 118 

a 50 ApPwpf 780 118 
32M Z7V. APPW pf 6.18 128 
30b 2* ApPwpf 380 127 
39b 17M AplDta 
20% 8 And Ate 
21 M 15b ArdiOn 
30 23 A rIP pf 

23b 13b Arkflst 
24b 1* Aril la 
b Vi ArtnRt 
131* lib Armada 
IBM *9* Armen 
29 15b Armcpf X10 117 

24b 15M AnnsHh 88 28 

MAR* 5M— b 
7 139* 139* 13M 
1* 119* 11b 11b— b 
268 39M 29 291*— b 

971 5* 54M 56 +1 

219 AM* ASM AAb + 9* 
099 23M 23b 23b 
237 39b 39 39b— V. 

22 40b 40 40b + b 

251 27 2*b 2<M + » 

^ as s 

A* 12b lib 12b + b 

IS . ioJ§2£S5£ + m 

8 22 1175 4*1* 45V* 4AU + M 
U) 14 405 Mb 26 2*b + 14 

17 2A 2SM 25M— b 
244 10b 9b 9b— b 
3249 AS 64b AM*— lb 

40b 2Sb Bos Ed X24 88 

77 A3 BosE Pf 888 118 
10b 9 BasE pr 1.17 11.1 
13 10b BoiEpt 18* 118 

25b 14b Bowatr 72 38 

31b 25b BdoSt 
A0 43 BriliM 
30 2Tb BrllPt 
211* 9b BrltTpp 
5b lb Brack 

22b 15b Brckwy 182 6.1 21 

39b 28 BkyUG X12 78 8 

32b 29 BkUGpf 355 128 

2AM 13 BwnSti 80 8 9 

TPM 22M BrwnGa 1JA 58 15 

45b 26b BrwflF 186 28 15 

40M 33M Bmswfc 180 28 8 

40M Z7M BnhWl 88 18 15 

19b 13b Bundy 80 47 8 

19 15b BunkrH 21* 118 

21b 141* Borina 
28M 23 Bortlnd 
5BM 35 BrlNIh 
22M 19 BrlN pf 
SIM 44b BrINpf 
18b 12M Burndv 
65b 48b Bwaah 
20M 12b Butlrln 
2b Buffo* 


51* Butospf 210 338 

190 40M 40 40b + b 

llOz 77b 77M 771* + M 

42 Wb 10M Mb + M 

17 13 12M 13 + 1* 

137 22M 22b 22M + M 

180 57 11 251 28% 27M 28—1* 

18B XI 17 1431 *09* 59M AOb + b 

LAM SB 8 789 38 27M 27b— b 

158 20M 20% 301*— b 

516 2M 2M 2M + b 
*75 22b 21b 21 M— 1* 
189 40b 39b 40 + M 

21 32b 32 32b— b 

113 21b 20b 21b + b 
180 271* 2AM 27—1* 
«a 43b 43b 43* — b 
31B4 35b 34M 351*— 1* 
391 33 32M 33 

4 17b 17 17b— b 

13 ISM 18b 18b— b 
64 19b 19 19M 

184 A7 74 1719 2AM 25M »b + b 
180 25 8 1738 571* 5Ab SAb + 1* 
212 98 30 22b 22b 22b + b 

S8Aoll.l 62 50% 50 50 

44 Al 14 80 13M 13b 13b + b 

380 41 12 2024 A4b 63b A4b + 1* 

82 30588 72 179* 17M 17b 

92 3M 2b !b + b 


9A 6b 5b Al* + M 

*72 22 J 

JO 24 1A 


180 45 9 
180 40 14 



38 34 
U 1A 
23 14 
28 11 


18 18 
3 15 

2032 33b 32b 33b + 9* 
139 12b 121* 12b +1* 
141 17b 171* 17M + W 
139 31M 31b 3116—1* 
*04 40b 39M 40M + 1* 
B31 3b 3b 3b + b 
3AA 22b 21b 22b + b 
211 34b 231* 24 + b 

54 391* 37b 39b +1M 
89 12V. 12 121* + 1* 

347 241* 24 24b + b 

905 83b I3U 83M— b 
27 28b 2BV> 28b + b 
11 59M 591* 59M + b 
IAS 15b Ub !5b + b 
531 12M 12b 12M 
19 12b 129* 12b 
1A1 11b UM 1IM 
a 1M lb Tb+b 
426 19b IK* 19 + b 

2002 A8 a 48+1 
Ittfiib 62 A2 
8 32M 3ZW STM + b 
5 SO 29b 

33b 24 CBI In 
122 A0M CBS 
8b 4b CCX 
12 Bb CCXpf 
53M 27 CIGNA 
31b 23M CIGpf 
7b 4b CLC 
50b 21M CNA Fn 
10M Sb 04 A I lJOallJ 

44b 34M CPC Int 330 XI II 
21b 14b CP HU 180 A8 9 
20b 19b CRUM! 207el07 

1800 57 12 405 24M Z4b 24M + b 
300 27 19 1600 111b 110W 110b— b 
10 45 Ab 6b 6b 

200* 10W 10M IS'* + b 
AA 30» S5b 53b 54b + b 
144 31b SOM 31b + b 
125 4b 4b 4b + b 

no 51 so sob + b 
2* iob iob iob + b 

us iu 

2*0 40 
275 88 


1.1 A 48 9 
180 30 

38 9 

88 2J ■ 


.12 .9 

. 1*1 

250 37 II 

1-1® U 19 2204 35b 34 Sb +IM 
97 14b 14b 14b 

.140 7 14 1111 21b 20b 21H + b 

388 128 36 29 2BM 2Db— b 

40 M 1 44 20b 20b 20b + b 

188 48 21 AMO 22£ 2TM 2lj%— b 

31 lib lib lib + b 
7A4 7b 7b 7b + V* 
3* 18 17b IB 

I 1 1M 18b 18b + b 

38 22b ArmWIi* 1 JO 3**08 1087 36b 3Sb 36b +1 

34b 19 AroCp TJ20 4.1 7 9 29b 28M 29b + b 

25b 13 ArawE JO 18 9 347 13b 12M 13b + b 

27b 16 Arfro 31 82 65 49 2AM 26V, 2*b— b 

23b 14b Arvlns 80388 8421 20b 21 +b 

28b 17b Aurco 352 23b 23 23b + b 

31b 20M AsmOII 180 58 311 30b 29M 29b— b 

44M 33M AahlOpf 480 1X1 10 44b 44% 44b 

41 31b AafllOpf 196 98 18 AOb 39M 40b 

63 45V* AsdDG 2*0 4.1 IT 2410 *4b A2b A4 +1M 

100 73 AadDof 475 47 12 100b 100b W0b + b 

25b ISM AHikme 180 78 10 11 21 20M 21 + Vt 

23b 19b AtCvEl 3M X6 9 205 28M 20 2 M + M 

64b 40b AIIRICh 480 68 2812293 Alb A0M AIM + b 

38 32b AlIRcpf 335 1X1 

153 97 AlIRcpf 280 18 

18b 11b AtlesCp 
33M IBM Aupot 
46b 32 AuloDf 
5 4b Avoiann 
29b 15b AVEMC 
39b 23 Awry 
15M 10 Avtall n 
41 27 Avnet 

25b 19b Avon 
30b 18 Aydtn 



950z 37 37 37 

5 144 1451*14* +b 

100 13 13 13 + b 

17 10 1A26 23M 22M 23b + M 

18 19 674 ASM 45 45b + b | 

8 4b 4b 
11 14 33 2BM 2Sb 28M + b I 

18 14 442 33M 37fh 33b +7V* 

7 42 14 14 14 — b 

17 14 1979 30b 29b 30 

9.9 10 1941 20M 20 20b + b 

10 23 19 18M ISM — I* 


19b 10 BMC 

35b IBM Bafmc S 

21b IS Bkrlntl 

24M IBM Bolder 

2b b vIBaldU 
52b 29M Banco 
23b lib Bally Mf 
I3M 7b BaliyPk 

44M 30M BalfGE 

44b 36b Ball nfB A50 1X2 

34b 21 BncOne 1.10 33 11 
5b 3b BanTex 
62 39b Bandog 130 11 12 

49b 39 BkBOS 280 48 5 

53 *3 BkBcnof 471* 9J 

55 49 BkNE dPB88*10* 

43b 261* BkNY 104 48 7 

30 15b Bflfcvas 180 38 10 



4.1 ' 419 lib 10b 11M +116 

18 12 50 30b 30b SOM + 1* 

58 16 13S8 I8M 18M 181* — I* 

18 13 24 20b 20b 20b + b 

S3 lb 1W 1M— b 
247 50b 4Bb 50 +1M 

1953 Mb 14b 14b + b 
30* 10 9b 9b + b 
918 44b 4416 44b + b 
SKte 441* 42b 441* + M 
27* 33M 33b 33b— b 
1A1 3b 3V* 3b + b 
15 571* 57 57 

309 49M 49 49b 

2 53 S3 S3 

59 53M 53M 53M + 1* 

420 43 42b 42b 

113 29M 29b lb 

28 12 


7.1 " 

22 14b BnkAm 152 67 12 5552 22V. 21M 22b + V, I 

52b 40 BfeAm pf 813*118 
86 A* BkAmpf 8J7611J 
1Ab 111* BkAmpf 288 
32b 23M BkAHtv 280 78 11 
73M STM BankTr 270 X7 7 
2SW» 191* BkTrpf 330 1X0 
42b 35 BkTrpf *22 1X2 
1Tb 7b Botiw 80b J 15 
32% 19 Bard 84 18 13 
74b IS BarnGa 80 38 9 
57M 33b Barnef 1J6 ‘ 

38 Vi 22 Barrml wl 

33M 19b BaryWT 
30b 17b Bausch 
18b 11M BaxITr 
2Sb 17b BayFM JO 
34 21b BoySIG 280 


60 45b 45b 45b— b 

70 72b 72b 72b + M 

101 ISM 15b 15M 

20 31M 31b STM— b 

794 73M 72M 73b + b 

B 23b 24M 35b + I* 

1 4Tb 41b 41b 

29 lib 10M fib + M 

151 31b 31 U. 31b + b| 

__ . 1 21 21 21 

28 10 1303 57b 57M 57b— b 

15 38b 38b 38b 

27b 18b CSX 

401* 34 CTS 

12b 7b C line 
33M 22b Cabal 
141* 81* Conor 
21b 11b CnlFed 
48M 32M CalFd Of *75 98 
21b 13b Callhn J5b 1J 
iffM lib Camrnl 

28 I5M CRLka 
8b 3b CmpRa 

731* 541* CamSP 
45M 28b CdPacg 180 
15b 9b CdPacwt 
21b 141* Can PE O 80 

223 141 CaflCftS 21 

27 15 CopHds 77 79 12 

IB Carina a 88 

401* 24b Carlisle 1JH 28 10 
26M 15b Corn FI 80 18 11 
28b 19b CorPw 280 98 7 
24 19b CarP of 1*7 11 J 

48 35b Car Toe 2.10 58 10 

Tib 7b Carrol 87 8 12 

44b 30b CarsPlr 18 U I 
2BM IBM CartHw 1J2 43 10 
35b 19b CortWl Si 18 13 
T7M 9b CascNG IJ0 67 9 
16b 9b CaUICk 

29 15M CsfICpf 120 

46 28b CafrpT 80 18 

27M 16 Cm 76 XI 12 

100b 62M Celonse 480 *4 9 

41b 34 Colon pf 480 108 

15 7b Canpyn A4 8 27 

47b 33 Cental 2J8 58 9 

Wk 17 Cenfexn 11 

24M 17 CenSoW 282 XI 

27b 17b CenHud 284 1X3 

2A 28b CHud pf 289(118 

43 3A QllLtpf 450 105 

19b 14b Call PS 184 * _ 

2SM 17M CnLaEI ZOO _ 

35b 29b CLaEI pf 4.10 1X1 

lib BM C«MPw 180 148 

19 13 CVtPS 180 108 

12b 2b CentrOI 
11b 7M CntrvTl 
23b 18U Cenvlll 
27b ISM Crf-taed 
24b 16b CossAIr 
24M 16b aunpln 80 17 

54 43M aunl pf 480 88 

10 0 OiamSD 80 48 13 

4b 1 wlChrfC 

lb b vICftf wl 

4b lb Vidirlpf 

35b Chan> 380 A5 4 

36b Chawpf 575 11J 

4B Chau of 683*117 

57b 51 Chase pfiXAOoaxs 

21b 14b Chelsea 72 38 8 

34b 24b Chemed 182 57 13 

43 23b OimNY 288 58 6 

39b 31b Chesck 174 38 10 

38M Jib QwsPn ZOO 57 10 

38b 29b Chevm 280 78 B 

30b 16b CNWsl 44 

200 127 CMMIw 70 

40b 53b CfllMlPf 
2AM 16b Chi PnT JOo 8 7 

■3 7b ChkFuJI 73f 38 93 
50b 24b Ch riser 8BI 18 
13b 5 Chrtstn 
13b 9b Chroma 167 

54 42 Orm pf 

38b 20b Chrwlr 180 28 3 

S8b 34M CrwnCk 
44b 27M Crw2M 180 
50b 43 CrZel pf 483 
*5b 50 CrZel pfC450 
29b 20b CuHbra 80 
33b 14M Cullnats 
88b AOb CumEn 270 37 4 
10b Bb Currlnc l.iOaiXS 
3BM 30b CUliW 170 38 13 
52b 27b CyciOP* 1.10 33 10 

431 43b 42b 43b + 

121 22 2TM 21b 
199 20b 20b 20b— b 
4139 25b 25b 25b 
195 33b 3ZM 33b + b 
47 9b SM 9b + b 
170 26b 25b 36 — b 
740 13M 13b 13b 
1477 21b 20b 20b— b 
208 48b 47b 48b + b 
43 20b 19b 20 + b 

1031 13b 13b 13b 
293 20b 20b 20b + I* 

42 Jb 3b 3M— b 
52A 67b AAM C7b + b 
324 43b 43M 43b + b 
11 14b 14b 14b 
AS 21b 21b 21b + b 
79*218 21Ab2T7 
390 26b 26b 26M 
BA 12b 12b IZb + b 
19 35M 35b 35M + b 
367 22b 22b 22M 
582 2BM 28 20M + M 

9 23b 23M 23M— b 
577 38b 37b 37M— b 
400 9b n* Bb— u 
19 42b 42M 42b— b 
190 2M 28b 28b + Vi 

232 35M 34M 35b + b 

235 17b 17b 17b 

710 11M 11b 11b 

10 20b 20M 20b + b 

8701 33b 32b 33b +Ib 

42 24b 23b 24b +1H 

919 101 100 101 +1 

3 41b 41b 41b + b 
17 89 9b 9M 9M— b 

9 235 42M 41b 42b + b 

II 470 24b 23b 24b + b . 

7 10B5 24b24b34b + bU9Mnb DOVCO 

A 2A4 27M 27 27b + M 42b 28b DayfHd 

2 2Ab 2A>* 36b + b — — - 

21Qz43b 43 43 

85 10 1033 19M IBM 19V. + M 
"7 S525M2Sb25b + b 

27 34b 34b 34b + b 

5 264 9M 9b 9M + b 

5 9* 17b 17 17b + b 

123 3b 3M 3b 

8 108 Tib II 11 

9 87 21b 2Db 21b + b 
_ 191 25b 24b 25b + b 

XI 17 TB7A 19b 19b 19b— b 
2499 23b 22b 23b + b 
121 51M 51b SIM + b 

651 Bb Bb 8b 

12 Month 
HW Law Stock 

Dtv. Yld. PE 


US Mail Low 

Ouoi. arse 

84 J 27 
80 X2 9 






35M 20 CPnrcs 
36 26 Campor 

17b 11 CompSc 
4Ab T4b Cpfvsn 
32M 22b ConAge 
24b 13b Conalr 
18b 13M ConnE 
28 19b CnnNG 

I5b 10M Conroe . . 

33M 24b CaneEd 240 A8 
43 35 ConEpf 485 1X7 

44M 38 COflEpf 5 jOO 11J 
3A 20b CraFrtB 1.10 38 11 
47b 31 CinNG X32 58 9 
Bb 4b CaniPw 
29b T3b CnP pfB 480 1AJ 
47 23b CnPpfD 745 158 

47 25M CnP pfE 7J2 1A8 

47 25 CnP pfG 7JA 1A8 

36b Ub CnPprV *40 1A7 
22 1 * 9b CnP prU 380 1*4 

23 10b CnPpfT 178 1*8 
47 2SM CnP PfH 788 IAJ 
24b 1Tb CnP prR 480 IAJ 

24 10b OiPprP 358 1A8 

23b 10b CnPprN 385 IAJ 
15b 7b CnPprM25D IAJ 
14b 7 CnPprL Z23 154 

24b 11 CnPprS 482 1A8 
15b 7M CnPprK 243 1*3 

28 15 
18 13 

8* 9 

as a 

27 A 








180 78 
72 23 

4AM 23b OlflCP 
10b 4b Conflli 
M Cent 1 1 rt 
12 CntlllPf 

M CfllHdn 
4b Cntlnfo 
18 ContTel 

38M 2fl* CfDato _ 

40b 33 CnDfpf 480 11J 

33b 234* Conwd 1.10 37 II 

3M 1 vICookU 
34b 26b Cooar 182 48 15 

374* 30 Coed pf 270 78 

27 12b CMPLb 3 

10b 124* COPrTr 40 XI 8 

25M 15 •Caoavb 40 
20b llbCopwld 

1548 35 34 3B + M 

44 27b 27 27b 

257 15b 14b Mb— b 
1703 16M 15b 1AM + M 
812 33b 32 33b +1b 

182 24b 14 24b + b 

29 IBM Wb 184* + b 

14 28M 27M 28b + b 
123 13M 13b 13b + b 

2736 35b 33b 35b +lb 
300z 43b 41 43b +lb 

11 44b 44b 44b 
M7 31b 30b 31b + b 
451 46b 45U 46b + b 
977 Ab AM AM 

370z29 Z7M Z7M— M 
330z 47 4A 47 +1 

430x47 4AM 47 +b 
5U4AM 4AM 4AM + H 
87 2AM 2AM 2AM 
SO 22 21M 22 + b 

29 23 2ZM 23 
470z 47 4A 47 
49 24b 34 24b + b 

35 24b 24 24 + b 

17 23M 23b 23b +lb 
25 T5b 13b 15b + b 
27 14b 14 14b + M 

10 24b 24 24b + b 

15 15b 15 15 +b 

58 23 1A33 47b 4*1* 47b +1 

243 7b 7b 7b + b 

70* 2b 2b 2b + b 

103 49_ 47 48 + b 

2303 % Vt b + R 

7 43 9 8b 9 + b 

3537 24 23b 24 +b 

986 31 30b SOM— b 

50x 40 40 40 +b 

42 29b 28b 29b + M 
157 1b lb lb 

834 33b 33M 33 
150 37b 37b 37b 
49 14b 14b Mb— b 
10A 18M 18b 18b + b 
18 19 2344 25b 25b 25b + b 

_ . . _ 49 12 12 12 

27 19V* caddpf X4B 118 5 21 21 21 — b 

27b I7b Cardura 84 38 IA 83 25 24b 24b 

15V. 10b Core In 86 *3 12 37 12b 12M 12b + b 

40 30 CornGe 1JS 12 17 1682 40b 40 40b + b 

48 22b CorBtk 180 XI 129 46M 45b 46M +1b 

77M 44b CacCm J4 8 23 743 75M 75b 75b 

10 4b Crate 4 8b 8b 8b 

37M 32 Crane 180b *3 11 224 37b 3AM 37 — b 

79 Wb CrayRs 17 2074 81 77b 81 +3b 

26b 16b CrackN 80 18 194 2*b SAb 26b— b 

21b 15b CrcfcNpfXlB 117 I lib 18b 18b— Vt 

23b 18b CrmpK 1 JO A8 10 21 20 19M 20 + b 

— - - 13 — — - 

28 1A 

X7 10 

170 57b SAM 57b + b 
7A5 40M 40b 40b 
U 48b 48b 48b— b 
40 AOb A0 ii.b + b 
U 29b 29b 29b + b 
1307 30b 29b 30 + b 

147 ASM A7b 68b +lb 
12 10b 10b 10b + b 
7 33b 33b 33b + b 
30 51b 50b SOM— b 

23b T3M Dallas 8A 
15b 9b DamonC JO 
30b 21b DanaCp 1J8 
8b 5b Danahr 
15 Bb Daniel 
97 71b DarflCr 

31b 23b OartKMrt 
7A 36b DataGn 
24b 12b DafPnt 
ir* Bb DtuDag 

80 7J 8 
240 11J 9 
70 28 12 

17b 1TM DaVtPL 280 114 

sab 45b DPL Pf 748 132 

103 75b DPL Pf 1X50 138 

34 21b Dean Pd 86 12 17 

33b 24b Deere 1JM 33 27 

25 17b DtlmP 172 77 9 

47M 27 DeifoAr 80 12 7 

7b 4b Dettoaa 
3A 19 DhrChs 72 25 17 

28b 17M DenMM 1J0 *8 13 

37b 26M DeSofD 1.40 *1 11 

17 12b DetEd 188 108 8 

7A 59 DetEpf 982 124 

62b 47b DetEd 788 124 

^ . „ 60b 4A DdEPf 745 124 

'S 1» Zb + b tab 45b DetEd 7J6 1X1 

16 b b b— 25 19b DEdP 275 1X9 

10 2b 7b 2b 
B15 58b 57b 58b + b 
24 46VJ 4A 4*b + b 

11 55b 55b 55M +b 
35 S3 52b S2M + b 

3 20 19M 20 + b 

315 28M 28b 28M + M 
SflSO 42b 42 «2b + b 

41 36b 36 3A — b 
409 35b 34b 3Sb— b 
4247 34M 34% 34b— b 
B5 17b 17 I7V* + b 
14 143 MZM142M 

55 75b 74b 75b + 1* 

]Z2 22b 22b 27b t 55 » OteWd's 180 

’51 J** in t S? ,2SH 77V * Dtaitd 
« “ «, + » Bib 45b Disney 

>5 12b 11b 12b 
B0 10 7b 10 
A 50b 49M 50b + b 
3600 36b 35b 35b + b 

26b 20b DEarR 134 1X3 
25b 19b DE PfQ X13 123 
25M 19b DEpfP X12 124 

24b 20 DEcfB 275 118 

27b 21b DE WO 340 1Z5 

27M 23% DE dM 342 124 
31b 24% DE Prt. 400 138 
32M 24b DE dK 412 128 
19b 13b DetE pr 330 118 
34 17M Dexter 80 37 II 

15V 9b DlGiar 84 43 

28b 21M DICta pf 275 83 

71b 10* DlomS 176 98 10 31 

Mk 34M DlaSh d 400 1Q8 

38 9 73 IBM 17b 18b + b 

18 121 11 10b 11 

48 B 3534 28b 27M 3 + b 

19 43 7b 7b 7b— b 
,18b 18 189 11b 11 11 —b 

LAS 48 11 UHB 98b 97 98b +1M 

5* 33% 33 33b 

12 2893 41b 37b 41b « 

209 13b 13b 13b 
JO 12 10 125 9b BM 9b— b 
J4 18 9 A0 1AM l*b 16b— b 
74 17 16 3593 43 41b 42b + b 

7 SOS 17b 17 17b + M 

300x 56b SAb 56b —lb 
30x9Ab 96b 9*b 
148x 34M 33U 34M +lb 
3630 29M 2Sb 29b +11* 
705 25b 34M 34b 
1388 45b 44M 451* + b 
39 5b 5b 5b— b 
671 37 3Sb 3AM +1b 

13 25 24M 25 +b 

44 34b 34 34b— b 

2941 17 16b 16b + b 

2Kb 75 75 75 +1 

28t 62 Alb A3 
30X 43 40 60 — b 

1720x 61 AO A0K + I* 
■7 25M 24M 25b + M 

52 26b 26b 94b— b 

151 25M 25b 25b + b 

195 25b 25b 25b— b 

53 25 24M 25 + b 

72 27b 27b 27b— b 
72 27b 27b 27b 

5 31b 30b 30b— b 
4 32b 32M 32b— M 

14 Wb W 19b + b 
403 20b 20b 20b + b 

46 15b 14b 15 
3 Z7M 27b 27b— M 
■ 18b 18b 18b 
37M 37b 37M— b 

71b 34b Chubb* X20 38 I* 1123 4*M 69 69b— b 

STM 24b BeafCo 
5EM 46b Beat Df 
15b 12 Becer 
51 38M BecbiO 

BM 4b Beker 
11 9b Beker of 170 17J 

28 M 

17 11 

78 9 

18 14 
78 9 
18 27 
38 II 

17b 12b BeMnH 

32b 22b BolHwl 86 

32 22 BefHwpf 87 

B8b AAb BellAH *80 

31 22b BCE O X2B 

27b 19b Befllnd J2 

39b 27% BeH5ou 280 

55b 40M BelaAH 80 

29|* 21b Bends UM .. 

41M 23 BedCp 280 49 18 

36b 30b Benefd 4JD 118 

3frfb 32 Bend pf 480 118 

22b 17 Benefd 280 118 

19b 17M Boned n 

7% 3b BengtB 871 
24 7b BeroErt 15 

6b 3b Bencey _ 32 

16b 10b BesIPd J4 17 29 

22b Mb BefflSfl 80 28 

50 37b BeHiStd580 1X3 

24b IBM Beth5td28D 12* 

37 23b Beverly J2 3 20 

24% I9b BteThr 80 1* 14 

23 13b Blocffn 

SAb 17b BlockD 

32b 21 BiekHP 1.92 

80 27 15 64 22% 22b 22b 

.la 18 12 700 12 11M I1M +Tb 

78 28 18 332 30b 30b 30b 

-37 28 63 A1BS 15b 14b 15 — b 

-20 3 40 39 2IM 21b 21b + b 

77 10 10 34 33b 33M + b 

27 II 42 34M 34b 34b + b 

57 6 5£W3 31b 39M 31M + b 

57 7 59 57 59 +3b 

32 53 121 14b 13b 13b— b 

23 14 485 51b 50b 51b + b 

87 Sb 5b 5M + b 

30 10 9M 9b 

2 15b 15b 15b— % . 

714 33 32b 32b + b . 

IQ 32% 32% 321* + Vj 
1143 90b H 90b +2b 
391 31b SOM 31 
17 21M 31b 21b— b 
2125 40b 38 40b +1b 

104 57 55b SAM +lb 

22 29b 29b 29b— b 
399 40b 40b 40b + M 
ID 27 36b 37 +lb 

120t 39 39 39 + b 

1300x 22b 22 23 

107 19b 19b 19b— b 
315 5b 4b 4b— b 
36 33b 23b 23b 
117 4 5b 4 

474 Mb 14b MV. + b 
2575 16b 14b 14b + b 
83 40M 40b 48M + b 
35 20b 19b 19b — b 
480 36 35 35M + b 

las 22b 22b 22b— b 

979 22b 21b 23b— M 
38 12 1586 21b 38M 21 + b 

61b SOM Chubb pf 425 7.1 
19b lib Church * 84 2J 17 

26b 15b CM corn 22 U M 
3SM Chi Ball X12 46 8 
15b 9b ClnGE XI* 142 A 
70 50 ClnGpf 9 JO 13J 

55% JJ ClnGpf 784 138 

68b 48 ClnGpf 9J8 138 

70b 50 CblGpl 982 1X2 

27 20 ClnMIl 72 X3 25 

36 22% Cb-dK 74 X2 14 

31 1AM ClrClly 88 J 13 

24M Mb Circus 14 

49b 27b atlcrp 2JA 47 7 

43% 35 Cttvlny 8 

4Ab 55 Ctylnd 280 37 

2Sb 21M ctylnd 287 118 

10 Ab Oabir 72 108 4 

32 23% OorVE I.IO X9 21 

14 AM OovHm 13 

22b 17 Ctvdf 180 33 
21% 14M CtavEI 282 118 

60 4Ab CIvEI d 780 128 

60 47 CIvEI d 786 128 

16b 10 aevpk 80 47 

191* MM Chrpkd 184 108 

3Ab 22b Oorox 1 JA 38 11 

23b I4M ClubMn .10e 8 21 
32% 24 ClueHP 180 13 12 
20b 1* Chiei d 180 XI 

311 60 59b 60 + b 

S47 19b IBM 19b + b 
244 26b 26 SAb + b 
9 47b 47b 47b— b 
734 15b 15b 15b + b 
120Z 70 70 70 

4001 55b 55 SSb +1 
127Hz 69 67b ASM +1% 

I9lt 72 71 72 +ps* 

313 21M 21 21b 

106 34 33M 33M — b 

746 24b 24b 34b— % 
375 2Jb 2JM 23M 
3850 48b 47M «8b + b 
4643 35% 345* 35b— b 
21 54 54 54 —1 

178 25 25 25 

80 7 Ab 6b— b 

44 30 DEI 

6b 3b DJvraln 
14b 6M Domes 
31b 21% DomRs 
21b 16 Donald 
57M 35b Dantav 
34 23b Dorsey 

42b 32% Dover 
32% 25M DcwCh 
51b 36b Dowjn 
13b 10b Drawn 

22b 15% Drew 

19b MM DrexB 



51% 23M Dreyfus 80 
AOb 43% duPant X00 
36 31 duPntd 380 97 

44M 39 duPd pf 451 iai 
33% 22M DukeP 288 73 
81 64 Dufced 030 1X9 

74 59b Duked 830 11.1 

71 57 Duka Pf 780 118 

27 21b Dufced 289 103 

_34b 28 Dukopf 385 1TJ 

23 II 571 43b 43 43b +1 

13 517V 105b 102% 104b +1M 
18 54 2957 82b 79M SIM +lb 
5.9 6 23 44% 44 44 

4 38 5M 5b 5M 

.12 270 9b 8b 9 + b 

272 88 9 2593 JIM 31 31M + b 

86 38 0 142 17b 16% 17b + b 

1.1* 11 16 561 SSb 55b 55% + b 

1-20 42 13 37 2SM 28% 28b + b 

83 42 13 007 3AM 36b 36b + b 

180 58 12 12126 33 32 32M + b 

78 17 23 1055 45% 43% 44% +1% 

80 43 55 UM 11b 11% + b 

80 48 15 1579 20% 19b 20b + b 

380 1X3 T2 19b 19b 19b 

33 12% 12b 12% + M 

36 l*b 19b 19b — b 

A 2116 22 31 22 + b 

320x 59 59 59 

45901 AOb 39b 60 + b 

77 13% I2M 12b— % 

A 17% 17b 17H— b 

678 35% 34M 35b + M 

413 34b 23M 24b + b 

MS 30b 30 30 — b 

10 19b 18b 19b + b 

28 14 838 13% 13% 11% + % 
80 7 13 431 54 53b 53% + b 

1.19 28 3 59b S»b 59b +lb 

183 XI 4 58b 5Bb SBb 

X» 43 14 2188 70 66% 69% +1 

394 14M 14b 14b 

1J0 48 18 476 30% 29b 30% + b 

128b 5.1 33 3494 2SW 25 35 

49b 39 CoteP pf 425 97 10X46 4A 4A+b 

2% Mb Col Aik s 84 29 8 ISO 22b 22 22% + b 

•a TOM CoiFdss .16 8 1A ISA 21b 21 W 21% 

31b 20b Col Pen 180 49 9 1301 20% 28b 2Sb + % 

63b 39% CoHInd ISO *J 9 550 SBb 57 SSb +1b 

21% 12% 

55% 23b Coastal 
AOb 34% Csfld 
60 24b Csfld 

72% 53b CocoO 
19b 9b CotaCO 
34. 25% Cotomn 

26% 20b ColoPal 

2B8 20b 28b 28b — b 106% 87% Duked 1180 106 

__ — — — JO*, OufcpjM 3J4 nJ) 

76b 51% DunBrd 220 13 22 

1«b UM DuqLt 286 1X1 8 

UM 12% Duq of 280 138 

16% 12 Duad 285 128 

17 12b DUOd 287 1X7 

17b 17% DwaorK X10 1X7 

18b 13b Duapr 2J1 1X8 

sv% 43b Duad 7jg 1x0 

14b 5b DvccPt 80 48 10 
26b 17b DynAm JO 8 13 

5.9 9 66 32b 32 32b + b 

40 14% Blair Jn J6 271DS 117 21b 30 21 +1 

54b 37 BleJcHR X40 45 14 232 53% 52b 53 — « 

66% 37 seel no 182 24 l529076£*62b63 +M 
44b 24b Boons wl 12 *2% a 421* + % 

44b 32b Batsec 1.90 48 17 2027 42 40b 4TM +lb 

57 46 BotaeC pfiOO 9.1 123 54M 54 54M + b 

ISM BaHBer .10 A 30 10 2K* »% + M 

77% 52 Barden 384 41 10 5?? 74_ 72 73b +lb 

SAb 26 Bonfn wl _ 

24b 16% Barg Wo -92 
5b 41* BormrtJ 

_ 36M 36% JAM +1 . 

4T 10 7284 22b 21% 22b + % 
13 Oh AM AM + V. f 

35 26M CMGas XU 108 

gb K CSOd X45 

,22,. IS* 1 CSOd X42 128 
lO^f- 97 CSOpfntSJS 144 

m. Combi n X16 45 9 

37b 25M CmbEn 184 5.9 11 

17% B Comda JO U !■ 

70 15b CemMII JA 

34b 8M Camdre 
30b an cinwE xoo . 
3W* 22% CwEpI 183 46 
l*b 13 CwEd 180 118 

17 13% CwE pf XOO 11.9 

23 iS* CwE d 2J7 1X3 

25% 29% CwEd £87 UJ 

*9b 54b CwEd 880 12-3 

25b 17% ComES 2J2 03 5 

34% SOM Comaot 1 JO 38 11 

30% 29% 30b + b 
10 27 27 27 — % 

4 19% 19% 19% + % 

70zMK 104b 106 + % 

115 48 47% 47b + b 

323 31% 31 31% + b 

541 15 14b IS + b 

5 18 17M 17M I7M 

3 1828 10 9% 9b— % 

7 8916 30% 30b 30% + b 

A 30% 30b 30% + b 

26 16b 16b lfr%— b 

13 16b I AM 1AM 

5 23 23 23 

1 25% 25% 25% + b 
lOOOz 69 69 69 +1 

5 91 M 25% 26 + % 

321 32 31b 33 + % 

1J 13 260 51b 50% 51 — » 

XI 13 3139 59M 59% 59%— b 

4 36 35b 36 + U 

37 44M 44% 44% — Vm 

3060 33M 3ZM 33M + b 
27201 B1 79b 80 +2 

70S 74 74 74 +1 

sm 71 71 71 

16 26b 26% 26b + b 
29 34% 33% 34 Ur + % 
200X104 1M 104 — 1% 
5BX 00% 10% 80 W— b 
872 75b 74% 75% + % 
1458 14% 16% 16b + I* 
1Z7BI 16 15% 15% — b 

6400z 14 15% 16 +1* 

40x 161* 16% 16% + M 

5 16b u% 16b— b 
300X 17b 17M 17% 

mx SSb SSb 55b +Tb 
43 12% 12 17% + % 

12 25M 29% 25M 

40 26b EGG 

T7M 16b EQKn 
31% 22b E Syet 
28% 20 EaotaP 
20% 12 Ecraco 
8% 3b EastAfr 
3% 1% EALartO 

lb b EALwfA 
1AM 6% EaAlrd 
19% 6M EAlr ofB 
24% 9% EAirpfC 

28% 21% EasfGF 130 
21 lib EeslUtl 286 
78 61b EaKad 230 

52 41% EsKod wl 

60% 37% Eaton 180 
30b 20b E chi In 88 
32b 20 Eckert! 184 
39% 31b EdliBr 180 
16% 13 EDO JB 
34% IT Edward 80 

29% 25% EPSpf X7S 1X3 

28b 23b EPGpr 

15% 9% EtTero JBm .1 16 

T2b 8% Etaor J6 X5 

Ab 2% EtacAs 

9% 4% EMM 

10b 7M EMM Df 180 9.9 

88 U 21 747 40 36% 40 +3% 

1J6 75 47 16M 16b 1AM + % 

80 1 3 15 720 29 28 2SM + b 

184 4J 8 94 22% 21b 22 + % 

44 12 75 20 19b 19% 

2429 Bb 81* 8b + % 

91 3b 3% 3% 

106 rb 1% lb + b 

so 16b ub 16b + % 

74 19 IBM 19 

25 34b 24 24 + % 

58 10 2862 23% 22 23% + M 

9J7 7 197 2lta 20% 21% + % 

X5 11 7006 63b 63% 62% —11* 

106 43b 42 43 — % 

XA 7 939 53% 53% 53% + % 
3J 12 1899 2SM 25 2S%— b 

48 9 1385 22% 22b 22b— % 
48 11 63 34H 34b 34b 

19 II 351 15% IS IS 

U 16 649 30b 29b 30b + % 

in 20% 28b 28b 
2W 28b 28b 28b + b 
82 1* ISM 16 + % 

36 10% 10% 10b— b 
57 5% 5 Sb 
419 Bb 8b Bb 
U 10b 10b 10% 

Dhr. Wd. PE 

iLoer Hunt Orte 

3B% 15 Elds. X m J 31 a£t 251* WM 25M— % 

17b 11% Elgin JO 58 16 5 15 14b Mb— b 

U 9% Eistint 51 Ab 6b Ab + b 

7VU 58% EimE 280 38 13 1772 <8b 67M 68% + b 

14b 6% Em Rod J4t 7.1 16 640 13U 12b W + b 

20b UM EmryA JB 33 T2 1999 17b 17b T7b + % 

32% 34b Emhort 180b 58 9 403 28b OT* M — b 

113 98b emhfd Z10 XI 1 103 102 M2 — b 

2DM 15 ErnpOa IJ6 8J 8 31 21b 2»b 2Tb + % 

5 3% EmPPf 87 1X4 3501 4b 4b 4b— b 

b EnExe 319 b b 

32M 23% EnelCp 33 33 9 217 35b 25% 25b— b 

38% 18% EnlaBa JA 1J 13 47 36M 3Sb 36b 

29b 17b Enaerdi 180 *J 18 830 29b 26 26% 

Dhr. YkLPE 




iDfv. yid-PE TOteHMlI-Ow 



37% 37% Htacute 180 4J 11 

17b UB* Herne* 24 

31% 19b Herne PfUB 4 9 

T7M Mb Harnorn IS 

42b 2*M Her ah y MB 38 11 

10b 5% Hentao 
13b 9 Hestad 
44b 31% HowIPk J2 

30 18b Hexoel 80 

23b 12 HI Shear 30 33 U 

13b Bb HIVUI .17 18 9 

26b 17b HUnbnf J4 38 12 

H» 97 Emdi pflBX! 10J 
57 51% Erndipf «J4ellj 

104% 91b EnadiPfllJBellJ 
21b 20b EnsExn 
3 lb Enra 25 

19% 9b Efttera 
30 15h EntxEn 1J701X7 

TIM 16 Efitexln 1J0 39 11 
31b 17b eoufxl l.M 4.1 15 
Ab 3b Eoulrak 
17% Ub Eomkd 2J1 138 
48b 28b Eat Res 172 It 1 
14b 9b Eawitcn .13 J W 
)4b Bb Ertnnrd JO 28 16 
22% 12% Eaten 84 20 13 
28b 18% EsssxC 88)33 M 
31b 17 Eatrlno 72 U f 
21b 10 Eltivla JA X7 II 
7b lb vIEwnP 
9b 2b vjevond 
12b 4b v lEvnpfB 
41% 30 Ex Cato 180 48 9 
1AM 13b Excetar lJAellJ 
54% 38 Exxon 140 AJ 8 

130X101 100 101 +1% . 

5000x 54% 54% 54b — b 

50 lOOblBOblMb + b 

171 20b 20% 30b .. I 

57 3% 2b 2% + b I 

17 TOM 10b im* + % 

51 lib 17b 17b + b 

117 IBM 18% IBM + b 
15 Z7b 27b 27b + b 

230 Sb 5% 5b + to 

22 17 Mb 17 +% 

2018 49b 48% 48b + b 

529 13% 13% ISM— b 
73 13 13b T» + b 

376 21% 21 21% + % 

52 38% 28% 38% + % 
73 18b 18b 18b + b 

930 21% 21 2Tb— b 

118 2b 2 3b 

23 3% 2b 2b— b 

23 4 4 4 — b 

162 36M 36b 36%— % 
61 1AM Mb 16% 

7671 52% Sib SM + b 

73b 45b mien 
38% » HR 

3381 3Sb 34b SSb +1 
641 17% 17b 17b— % 
68 3B%-30b 30b— % 
773 18 T7b 18 + b 

754 41b 40% 41b + % 
16 7 Ab 7 

3 Ub 11% 11b 

8 1A 9341 34% 33b Mb +1% 

23 M 2X0 26 25% 26 + b 

12% 22% 22% + b 

ra% nb Ub + b 

27 22% 22 22% + b 

USB 27 15 1434 A8b 47b 47% — % 

30% 30% 30% + % 

54 54% +b 

. 70% 77b 78% + b 

SMI 19% 19 Wb 

2SM 251* 25b + b 

“I Bb Hk + % 
34% 24% 24% + b 

17b 17% 17b + b 

_ . ... 52% 52% 52% — % 

ZJ 11 3180 Mb 59 30 + % 

42 9 17 34b Sib 26b 

25% 25% 25%— b 
4b 4b + b 

U 11 

1J0 18 M 1718 

83% 58% HoUyS 1J0 1J 13 34 

27b 12 HomeD 34 " 

36 IP* HmPSD 8 ... 

9% 7 HmeGpf LIQ 1X8 481 

a am Hondo jo j si ::z 

18 8M HmxlFn AO 23 5 79 

48% 43b Hondo JSe 3 9 
44% 46b I I o n w ell 1 JO 
27 19b HrznBn 1.12 _ 

26% 20 HraflnpfXMelU 2 

7% 3% Horizon 18 ... ... 

48% SAb HoopCp 80 18 1215779 €03 41M 42% — % 

30b 22 Hotalln 240 92 13 12 28b 20% 20b— b 

39 21b HoOPhM JA 25 IS 134 30b 38 38b 

19% 13% HoUFOb 88 32 9 113 15b 14% 15% + % 

37b 24b Hound 1.75 43 8 983 35% 38% 35% — % 

55b 36 Hotntpf 250 47 2 ~~ 

77% 61 Hold d 675 XI 7 

21b 10b Houllld 284 9J 7 4936 

31% 22 Loral 

15 1B% LOGenf 

31 22% LaLand 

25% 17 LOPOC 
32b 28% La PL pf 
33% 1AM La PL pf 
29% 23b LouvGd 
SO 36 L0»t> 

38 14% Lowem, 

25% 18% Latxzl 

32 23% Ltlbv** 
30% 15b Lecfcys 

16 10b Lutam 

18 18 1385 31% 29% 3M* + % 
1*7 M ■ 12 11% U» 3* 

*ii la 743 37V» 32V* W*— 

jU» 02 TO* VM* 20* + * 

iS * Sr* Kb k% 

1X7 17 23b 33 23 

8J ■ 92 »b 29b 29% + % 

48 4 72 43b 43% 43b + % 

17 17 128 29 2Vb 28% + % 

5.1 3 417 2* 

U 30 541 39% 38 29% 

s u *5 ?ss a 


ASM 39b HouNG 2J3 XI 
18b 8 HouOR 1 78*187 
33% 13b HowfCp 80 28 W 
z/b 20b Hutbnl 330 OJ 12 

52% 52% 52% — % 
77 HH 77 

2* 34% +M 

4427 68% 60% 68%— b 

11 6% FHInd .150 18 2 2 9% 9b 9b— b 

67% 44% FMC 27D X3 40 422 66% 65 AA +lb 

B3b 56 FMC d 275 27 > 83 80b 83 +3 

24b 17b FPL Gp 1JA 7J 9 4512 25 34% 25 +14 

13b 9% Foliar JB X5 14 7 11 11 11 

Mb 9% Facet 7 26 12% 12b 12b— b 

20b 15b Palrdld JO U 72 16% 15% M 

39% 33% Faircpf 380 93 A 36b 36b 36b 

16% 9b Fafaid .18 17 10 30 14M Ml* lib 

24% 10% FamDl a 70 7 35 35* 23 22% Z1 + M I 

19b 14b FonaM 80 3J 13 109 15% 15b 15% 

Ub 23 FriVWP 4 3 29 29 29 

£8% 14% Farah 88 4J 8 221 18% 17% 18 

13 8b FayDra JO 27 13 313 9b 9 9%— % 

6% 4% Pedora J2rJ9 744 Ab« 6b + b 

37b 29b FkIICo 184 43 8 50 37% 36b 37% + % 1 

45b 29% Fdd EXP 31 1439 41b 41b 41b + b I 

39 29b FdMog 1J2 4J 10 Mx 35% 3Bb SM 
19b 10% FedNM .16 J 2843 18b 18b 18b + b 

27 16b FedPBs 70 47 A 787 T7b 16% 17b + b j 

26% 25% FPappf 231 88 

23 16 PedRIt 184 48 14 

19b 13b FdSgnl JO *8 IS 

64b 42b FndDSt 2J4 4.1 9 

28b 22% Ferro 121 43 13 

37 25% Fldcst ZOO 7J 12 

17% 4 FlnCpA JBt 

46% 14% FlnCppf AJ3021J 
Ab 2b FnSBdT 
21b 1* PI resin JO 
24% 12% FT Ad ■ 88 


19% 12b HugflTl 
25 17% HuahSp 

33 21b Human 

27b 18b HuntMf 
41b 23% HutieF 
30% 10% Hwfrd 





... _ 9 

88 3J 600 

73 1J 11 30 

80 23 M 4713 30 

U 16 17 27 

10% 10% 10% + b 
17b 16% Mb— b 
26% 26b SAb 
MM Mb Mb 
14% 14% Lib + b 
21b 21b 21b + % 

•%aKf 2M Hh M 

J0 25 is 1343 31b 31b 31%— % 
XOO AJ 9 144 29% 39b 29b + b 

48 12 



326 26b 26 26b + b 

W 22 21% 21% — b 

67 17b 17% T7%— ■ % 
465 Alb 61 61% + % 

578 38 27% 

20 Z7b 271* 27%— b 
1033 7 6% AM— %| 

39 31% 31% 31b 
]«. 4% 4b 4b 
X7 11 1651 21M 21b 21M + % I 
XI 8 87V 22b 21M 22 

37b 21% FIBkSy 180 4J 8 238 27b 37 37b + b 

35 25b FBkFta 1 JO 38 11 13 33b 33 33b + % 

72% 35% FBaxt 1J0 18 11 586 77% 7Tb 72% + b 

27 IBM FstOik: 1 J2 5J 30 1336 26% 38% 26% + b 

87% 70 FOlf PfB 883011.1 160 78 71 78 

19 11M FIBTnx U0 1O2 9 328 12M 12% 12% + % 
55% 39% FtflTX pf SJAOlXl 
S0>3 37% FtBTXd588eMJ 
21 8b FICIty 9 

20% 10% FFedAl JO* 1 J 7 

54% 31% PFB 2J8 58 I 

51% 30% FlntaJe 2J4 4J 8 

31% 21 PlnhAd 2J7 78 

lib 7% FtMlas J4 27 I 

19M 16 FfNotnn 12 

7% 4b FatPa 
30% 20% FatPa pf 282 9.1 
31% 24% FtUnffl 152 AJ 16 

25% 10% PIVaBk J4 X5 18 

23b 16 FtWbc 1J0 47 ■ 

52b 45% FWbcPfAJS UJ 
54M 30% Ftecf* 1J0 29435 
Ub 8% FbhFd JBo 8 
39b 20% FM1=nG9lJ2 38 9 
28% Mb Fleet En JA 
39b 22b Flemns 1J0 

35% 21b ICIndl 184 
19b 16b ICMd 32 
lib 6b I CM 
30 22b ICNPf Z70 98 

17% M IN Ain U2 118 
£7% 22 IPTlmn 
20% 14b IRTPra 1J0 9.1 
SAb 20% ITTCh US 29 
ASM 40 ITTpHC 400 48 
61 44b ITT pfO 500 BJ 

46M 28 ITTpitf 2 35 43 
65 42b ITT pH 450 7.1 

21% 13M IU Int 1J0 73 
43b 31b IdohoP 330 73 
21% 21 IdahPwl 
20% 13b IdealB 
21 17b INPnwr 284 1X2 

18 13b UPowpf 204 110 

38 14b UPowpf Z10 IU 

W 14b UPowpf X13 UJ 

19 15 UPowpf 221 U8 
35b 27% UPowpf 4.12 UJ 

33 25% UPowpf X78 IU 

34 23b UPowpf 400 1X0 
36% 21% ITW 84 20 11 
40% Z7M IrwCtHn 2090 U I 

33% 23% FkDdV JO 2J U 

13% 10% FlOXlPf 181 1X6 

25% 13 FlgWSf a 19 

31% 14b Float Pt 

45b 29M Fla EC 

27% 18H FtePra 

18b lib FhjStl 

7 3% FtwGon 

21 lib Ftowrs 
28b Mb Fluor 
47% FooteC 

M 39% OTfe 39b— b 

60 31b 38 38b— b 

ia 9% 9b ::: 

250 20% 19b 28 — % 

23 53b 53 53% +b| 

605 52% 51% 52% +1 

25 32% 31% 32% + b 

256 9 Bb lb— b 

Ml 17b 17b 17b + b 
751 7 Ab Ab— b 

180 29 21% 21b— b 

57 » 30b 30b 

98 24% ZSb 33b— % 

7 27b 27% 27%— b 

2Kb 52b 52b 52b 

43X34 33b 34 + b. 

118 9 8M 9 — % 

... . 79 38% 38b 38b — b 

IJ 8 2120 20% >*% 19b— b 

28 M 286 38 37b 38 + % 

9b 5b (mpiCP 
Mb Bb INCO JO 18 
17b M ImflMpf Z15 TX0 
18b Mb IndlMpf 2J5 123 
29% 23b IlMBMPf 383 127 
28b 17b indKSoo 1JB 78 
Mb 5b Inexco 071 
2AM 13% infmte 

871 32b 32b 3» + % 

31 17% 17 17 

711 10b 9b 10 — % 

32 2K* 27% 28 

49 Ub Ub 16b + b 
187 27% 37% 37% — % 

7 74 19 IM 18% — % 

II Oil 34b 33b 34 — b 

4 Cl 41 41 — b 

4 61 Cl 41 

10 46 46 44 +b 

5 63b 61 63% + % 

269 15% 15% 15ft— b 

t 465 42% 42b 42% + % 

10 2Tb 21% 21b + % 

99 15ft 13% 15% + b 
7 ISM 16% 25b 26 + b 
MOB Mb 18b 18b + b 
400x 19% T9 19 — T 
4Mx18b 18% 18%—%-. 
2SBx 19 19 19 +1 

4001 35% 35b 35% + b 
230x33b 33b 31b + b 

6 33% 33% 33%—% 
184 32% 31b 31b— ft 

I860 38% 38 88% + b 

23b 15b MACDM 
55% 38% MCA 
24% 16% MCorp 
14% 7b MDC 
371* 26 MOU 
42 34 MEI 

15% 9% MGMGr ... 

12% 9b MGMGTPI44 
15b 10 MGMUa 
5% 2% MGfMwwf 

27b 17ft MGMHO 
231* 15 MS Ltg . 

30 T3b Madid* JSS 
53% 30ft Mocy IM 
42 36 Macypf 425 

Mb Ub AkufRu 
89% 24 MagICf 100 
8ft 1% MatAst UBOc 
21% 12ft Manhin JOb 
ZTb 13% MlmdiNt 02 
25b 11% ManrC* 

41% 22ft MK tteP 
1 41 Mfrtid 
55% 48 MfrifPf 
, 18% 5% wlManvl 
28% 18% dim«td _ 
35b 21 MAPCO 100 
4b 3 Morntx 
Zb h Marata 
36% 19% MarMJd 1 00 
31b 15% Mortal Jt 
12b 9% MorkC J2 
18% Mb Marfcpf 1J0 X 
Mb 60 BOarrial 34 
60 35% MrehM 280 

54% 30% AtartM U4 
IM 8b MarvK .12 
34% 22ft nod 06 
Oft 7% MnaMr 
20 15ft AtaxM 
3b 2 

51% 34 FardM 
12b M% FlDear 

1 J« If) 

71% 50b FtHowd 184 13 14 
lib 10 FostWtl 84 XI 14 
11% 6b FOXSIP 88 78 10 
Mb 25b Foxbro 104 3J W 

27 24 Faxmyr 17 

22b 21% FMEPn 

Ub 7b FMOG 209B2XO 
22b Ub FrPlMe 80 

34b 21% Frtotnt 80 

28M 19 Fruehfa 80 XA 5 

32b 25 Fndlfpf XOO 7.1 

36% 20% Fuqua 80 U 9 

65 31b 31% 31%—% 
10 12% 12% 12% + b 
173 24ft 24b in- 
16 335 28b 27b 28% +1% 

.14a 8 M 24 44b 43ft 44b + % 

X16 78 10 2146 28% 27ft 28% + b 

80X717 79 15b 15 15 — % 

195 4b 4% 4b 
82 28 17 289 17% 17b 17%—% 
80 XI 1277 IBM Mb 18% + 

nun 20 5HA 

280 57 3 6325 42 
29 12% 

116 TOM 

35ft InaerR 280 15 16 

37ft Z7M InoRPf X35 73 

15ft 11 inaFFoe 06 47 21 

25b 19b inldSH JO XI 

48% 38% InHMpf 4JS MJ 

2TM 14 Inmco 100b 13 11 
10 3b InepRa 

26b 1Tb InfoRlC ID 

SSb 19 lafgRpf 102 1X2 

37 25% IntpRpf 4JS 1X3 

7% latRFn 14 

15b ItcpSo X10011J 
55 Inferco X08 40 12 

9b Intrftf 
41 Intrlk 

Bb IntaMd 

Bib Mb laMlu 

138% 99 IBM 

24% 15% InfCtri 

29b 22% IlltFtov 

11% Sb IntHarv 

7b 2% IntHrwf 

51 23ft UflHpfC 
17% InfHpfD 
32b lidMte 280 

23 latMafl U6 

9b 9% f%— b 

1428 Mb 14 14% + % 

12 17% im 17% 

42 18% 18% 11% 

2 3Mk 38% 25%— % 
172 25% 24% 24b— lb 
316 6 5M 6 + b 

31 1396 25ft 25% 28%—% 









... 47 46% 47. + % 

15 32ft 32 32% + % 

11 11b 11% Ub + % 
880 24 23b 23* 

10 44 44 44 +% 

279 19 Mb 19 + ft 

154 5ft 5b 5% 

167 19b If 19% + % 
27 34% » 24% +1 

15 32% 32 32% + « 

ai 12 % 12 % im+ ft 

83 18% 18b 10% +% 
626 61 67% ATM— % 

383 U% 11 11% 

9 51 80% SOM— ft 

209 9% 9b 9% 

. 133 19% M% 19% + % 

XI 13 13363 m% 130% 191 4a 
1 J 10 M 21b 33b 23b + b 
3J 14 434 29% 29 29 

2372 9b 9 9%— b 

413 4 5b 5b— b 

M 51% 51 51% + % 

149 28H JO 30b + b 
IN 40% 39% 39b— % 
194 29b 2fb 29ft + b 

73 37 f 



40 11 

Q 11 

MPW 280 47 34 JSZ1 5T 49% 


5J 9 



9 A 

_. 2M 9% 
X9 15 3929 21 
2J 16 D 2Sb 
779 23ft 

35% 17 GAF JOe 8 12 
37b 25% GATX 130 4J 13 
47% 33% GATX pf 250 68 
51% 49% GATXPf 4J3o 98 

18 II 

34b 19b OCA 
77% 48b GEICO 100 
9ft 4 GEO 
12b 5% OF Cp 

44b SSb GTE 
39b 31% GTE Pf 
24 19b GTE d 

9b 4% GalHou 
62b 36% GotoH 

26b 18% Gapstr 

27 10b Geartit 

19b 13b Oelco 
10M 9b Gem 1 1C 
lib 10 Gomll I joe 17 

47b 30% OnCorp 1000X3152 

17ft 14b OAlnv 1.63* 9 A 

46% 29% GflBcsh 160 U 1 

34M 19b GClrena 80 1J 10 

XOO 78 
288 108 



21 12ft GnData 
M 44* GnDyn 
66% 48% GenEI 
45ft 50 GnFda 
7% SM GGftin 
m 5* QnHme 
14% Sb GHosfa 
16b 8ft GnHom 

Z7M 15ft Gnlwt 

641 35b 34b Sib 
204 28b 27M 28% — M 
9 M 37ft 33%—% 
950 51% 51 51% — b 

541 25% 24b 25ft + ft 
111 73M 73 73M + M 

177 4M 4% 4b + b 
5 7b 7b 7b 
4071 42b 4BM 41% +1 
3 37 34b 37 +1% 

20 23b 22b 22b— b 
140 4b 4% 4%— b 
2021 1240 6S%5n*59% + M 
U II 232 25% 24ft 2SM +1 
933 Ub 11 11 + b 

Wi 17% U T7% 

253 11 Kb II + b | 
132 11% Ub 11% 

628 47% 46b 47% + % 
111 T7b 17 17% + b 

145 43b 43ft 43b +% 
562 30ft 29% 30ft + % 
320 15% 15b 15ft + % 
1872 71 70b 70% + b 

9% Inraca 

MNrib 281 
laftttpf 681 
IntNtpf 604 
IntNtpf 888 .. 
InfNtpfJOJO 46 
loMGp 108 25 M 

IntetPw 10 U f 
hiPwpf X28 11J 
lowoEl 1J0 98 
lOWllG X74 8J 
loerfUpf 2J1 IU 
lOMiaRa 308 85 

Ipatco X04 83 9 

Ub 9% IpcoCp J4 29 12 
48ft 23b IrvBke 106 4J 8 
54 Ob IrvBkpf 5.15* 9J 

U7 14b 14ft 
1147 46b 45% 

90178 78 

Sta 7* 78 » 

48x 90 90 90 

70 160 IM 140 —b 
76 42% 41ft 43% +1 
.156 17% Mb T7% + ft 

9 -^ssr.Rjai 

10 258 30b 19% 20% +% 
7 126 31b 38% 31 + b 

JftcSOft 20b ■»-»: 
f 51 35b 34M 34b + ft 
250 36b 36b Mb + % ; 

u im nb nb 

127 40b 39% 40 — b 
300 52 51b 52 + % 

11% 9% Maine 
7Tb 51% MatauE 
14% 6b Mattel 
10b 4b Motel wt 
32b Mb Madid 330 XX 
15ft 9b Mcoamt 
49b 32bMavOl UB 35 
52 36b Marts 260a S.T 

31ft 25b MCDTP* 330 70 

25b 20b McDrd 280 1X5 

31 23ft McDotl 100 46 

17b fit* McDrlwt 

IIJVj 6ft McDtd JO 2J Z1 

64% 40% MCDnis 02 U 14 

84b 50% McDnO 104 ZS 9 

49% 36b McGrH 180 XB 17 

39% HO Mctnta 

45* 32b McKern 280 58 12 

72% 55ft McKpf 100 XS 

15ft 9b MCLiaa 18 

6ft 3 McLeawt 

39% 20 Met*, ' un M 7 

41% 27b Mood LM » f 

24% Ub MOW nit J4 U 12 

33b. 24ft Medten 36 XA . I 

SZft 33b Me B on Z68 5J 9 

27 22% Melton pf20O W8 

45ft 31% Ntotvia 184 XI U 

44b 43 MeraSf UO XI 11 
105b 78% Merck 330 XI 15 

70 40b MenfW) 100 

36% 22 MterLvn 00 

3ft 2 Meaner 

22 I3b MeaoPt 4 

JSb 27% MmoR 108b 50 
7% Jft Meaab j4eTL2 7 

AL 9U Ueetab 

50ft 47ft MfEpfJ an 13J 

59 45ft MtEpfl 8J2 US 

3b 2ft BtaxFd Jl« BJ 

17ft 12% MdlER L38 70 U 

53% 33% Midcan 2J6 45 9 479 

.14% 9K AUdSUt 1JI 127 5 9548 

22% lAbMkaia LOO 57 45 

29b 21 MWE Z» U n 98 

-16% nb MUM 
86 72 MMM 

35% 23* M»lPL 
15%: AbMterin 
8 4 MUM 

34b SSb MaM 

3b ft vUMWH 

SKModCPf _ . 15 11 

Mb Mohac 80 TJ T3 1294 


20 3 09 20ft 19% 30% + % 

is sSs 53 % a%-b 

6 242 20% 30ft 30%- b 

9 68 Ub 11% 12 ■ — ft 

T 146 36% 38% 34ft— % 

15 192 38b 38 9M + % 

38 42 15 14% 15 + b 

28 13 12 12 

18 4 9? w* u* m* + % 


lBOz 43 43 43 +1% 

49 U 11% 11b 

7 327 Ml* 35% 36% +tb 

2M Mk 2M + % 

67 219 15 14% 14% 

17 30 17% 17b T7ft + b 

33 933 24 23% 23b 

A 1414 41% 41 41b 

84 54b Sib 54b ■ 

202 50% 50ft 50* 

3 449 5b 5% 5b + ft 
20 Mb Ub 18b— b 
9 6427 35b 35% 35% — b 

121 4% 4b 4ft + % 

T«1 b % b 

340 37% 36% 37% + % 

3» 37ft 37 37%— % 

35 9b 91* 9b 

14 W% 14% 14% 

Z7t 89ft 87b 89% +1 

427 46 65% 44 +% 

1134 53ft 51b 5Tb— % 
22S Mft 10% 18ft 
OB K* 33b 34b + b 
. 997 13ft 13b Ub + % 
9A 1 112 19% 19% T91* 

■71 ZVfl 2 7Vk 
2JB JOJ 1 45 27A 27% 27b + b 
IJB 1T0 1 83 12 Ub 12 + % 

0 4 819 59b 58ft 59* +1% 
14% MM 14b 
Ub Wb W% 



f'. r 


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18 16 

25 21 

. . U: 17 M3 
X58 4J H 5487 
X74 73 8 250 
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Z20 7J II 4693 

- 88% 30% m . 

10 13% UM Ub 
6 48ft 47ft 48ft +lft 
14 5Hb SM 51ft— % 

" 28% 27b 28% + % 
24% 24% 24b + b 
27% 27 27% + % 

7ft 7ft 7b Jf 
9% 9b 9b + WT 
64b 43% 64 + b 
74% 73% 74 + U 

47b 49ft 49%+ b 
34% 34 34 — % 

44b 43% 44b + % 
70% IV TO* +1% 
18% 18b 10b 
8% 8ft Mk 
39ft 29 29ft— ft 

40% 40% + % 

W 19ft + IA 
-2SV 2?b + % 

51 51% + ft 

26% 24b + ft 

44% 46 +1% 

61* 63 +1M 

103 104 +% 

68% 48b + b 
31ft 37b + % 
2ft 2ft 
15% Wb + ft 
32ft 32b— ft 
6% 6% + ft 

Jft 3b— ft 

S 2 +* 

17ft 17% + ft 

*.»- % 


77ft— % 

i -j' 





3b MoldcDt. 

M% March 00 44 25 

X6 17 
32 14 

3* 17 lit 81b » 81b + % 

9 451 27%. 271* 27% + K 
11 1857 23b 23 23b +1 

n< n in 11 + M 

7 461 44% 43ft 44% + % | 
3% 31 38% 30% + ft 

10161 61 .61 +ft. 

1860z4Tb 61 61 

223 17ft Mb 17 + ft 

22 20 Wb Wb Wb 

14 4028 44ft 45% 45%— ft 
9 192 41ft 41 41b + b 

^ _ 18 41 41 41 

29b 21b Jaraa 100 Xf 17 2 25ft 25b 25b + ft 

26b 15b Jatfens M 33 14 143 24% Mb 34ft + b 

27b 21% JeyMfo 180 5L9 14 750 34 Kb 2W + ft 

Sib 20 JWT* U2 
34b 23b J Rhrnr JA 20 
24% lMJanm .12 J 
18b lObJapnF 184*113 
44b 24b JaffPla 102 38 
30b 34ft JerCd 400 1X0 
61 46b JerCd X72 13J 

61 47 JerCpf 800 1X1 

16b 12* JerCd X18 125 
Wb 5b Jewkx 
47ft 28 JahnJn I JO 18 
46ft 37b JehnCn Ufa 4J 
41 40% JhnCn wl 

. Mown 200 SJ U 
Mb MonPw 258 82. 9 

MkMomi 100a fj ..., 

. Aft MOMV A 85 9 485 9b 
Wb 12 MaroC* 72 XI U is in* 
26% WWMoroM 104-41 14 21 251* 

29 23b MorMpf 2J0 88 - 18 29ft 

52 38ft Morgue 1» 41 I 059 5Hk 
Bib 75% Moran Pf 777* 90 8 Bib 

42% 26b MorKmf 181 15 W' 4242ft 
3 * ISk Manes JO 40 U 253 20 

B U MtBRfy 176* 9.1 11 139 19% 

33b 23% Morion* 84 15 9 4B2 34ft 

4M 29ft Mofurla 44 15 U 2134 33% 

Mb M% MOW 04 23 U 4 23% 

33% 15 Manaa 21 2 21% 

48 30 MurpftC 188 25 1# II 48 

^ 33ft MuraO 108 33 12 692 30 

2 JH I6b MurryO 00 14 W 42 17% 

K5 "i 5&S" W4«nw « u% 

11% lb ArtyerLn - 322 1% 

34ft + % 
Ub + b 

■MU & *{ 

'£ d 

m * s 

18% 18% 1 


UW 18 8 ^ — .. 

2J0 37 11 7992 68 59b 59% + % 
XW 38 II 4733 65b 63b 65 +1 
80a 88 35 7b 7 7b— b 

12 71 Aft 6*A 6b + b 

JO 22 3 165 13ft 13b 13ft 

24 26 236 9ft 9 9b + b 

18 588 17% im 17ft + b 


60% 47% GnMills Z24 19 34 7503 57% 551* 571* +1% 

85 41 GMot 5L0Cr 73 

73% 33 GMEn J4e J 
36% 16ft GMEwl 
40 34ft GMatd 373 90 
53ft 44b GMoid 500 90 
9 3b GNC .16 28 20 
13% Bb GPU 6 

85* 461* Gen Re 106 15 53 
Mft 5 Gflftefr 7 

53b 39% GnStonl 100 40 12 
12 9* GTFIpf ua 100 

12ft 10 GTFId 1JD 1L1 
8ft 4 Gonsco 17 

281* 13b GnRod .10 J 29 
IS Geratg un 
32b 16b Gstpt 108 75 
36 24b GenuPt 1.18 17 14 

27b 18 GaPac 00 12 26 

29 2Zb GdPwd 144 124 

30 25ft GaPwd 176 120 

21% 17% GaPwpf 156 110 
21ft 17 GaPwd 152 110 
25ft 21% GaPwd 175 100 
63ft 51% GaPwd 772 1X4 
32b 20ft GerfaPS 1J2 XI 12 
23ft 12% GerbS* .13 7 13 

12b 8ft G lardP 

12ft 5% GttwFn 5 

27 16* GtffHIII 02 22 22 

62ft 42b Gillette 200 47 12 
15b lib GtaasC 
12ft 6* GtonPd 6 

8ft 2ft GlaMM .121 
25% 9% GtabMdT75l 

13ft 8ft GldNuO 
4 1% GtdN wt 

34 It GMWP JD 0 

77T7 69% 67% 69 +1% 

909 73% 71 73 +1% 

9 37ft 36ft 37 
6 39b 38% 39b +% 
48 52 51b 52 + % 

167 6* 6ft Ab + % 

409 Ub 12% 12b— ft 
633 84ft 83ft B4b + % 
45 13% U 13 
572 45b 44b 451* +1 
1W0B 12 11% 11% + % 

4001 11% 11% UM— ft 
187 4b 4% 4b + % 
562 17ft 17 17ft + ft 
421 22b 22 Sb +1 
■ 21% 20% 21% + % 
249 32% 31% 22b + ft 
0049 24% 24 24b + % 

99 28ft 27b Z7b— % 
28 29% 29% 29% + ft 
30 21% 21b 21% + ft 
15 71b 21 21b + ft 

19 25ft 2Sft 35b + % 
SOX 62ft 62ft 62ft 
2S7 32ft lift 32 +% 

384 17b 17ft 17% + % 
164 lift Ub lift— ft 
8M 12b Ub 12 + b 
212 24 xm 23ft— ft 
323 62ft 61ft Alb + b 
10 12ft 12b 18* + M 
6 3*0 12% 11b 12b + % 

657 3ft 3 3ft + ft 
218 10% 10 W — b 
19 3271 12% Ub Ub + % 
681 3% 3 3b + b 

309 2M> 33b 33b + % 

33b 24b Gdrtch 1J6 47 15 112 33% 33 33b + b 

29ft 23 Cuodyr Id U I 3864 29% 28% 29% + % 

18% 13% GardnJ J23JU 3 MU 16 16 — b 

32% 19 Gould 88 33 St 5624 21 20b 28% + ft 

44ft 36ft Grace 200 60 11 1040 41b 40* «F* + ft 

lift 7b KDI 
~ I 9b KLMe 
• 33 KMId 

41ft 27b Kmart 

40% 38 KN Eng 

16% W* KaterAI 

21% 14% KateCe _ 

20 15% KafCd 137 87 

15% 8% Kmob 80 43 

M 14ft KCtyPL X36 M2 

31W 25 KCPLd 300 TZ1 

18% 14% KCPLd 220 1X2 

20 15ft KCPLd 233 128 

54b 36ft KCSOO 100 XI 

Mft 10% KCSod 108 03 

19% 12ft KonGE XM 125 

38% 2Sb KanPLi XM 70 

22ft » KaPLd X» 1X3 

ZZ% 17% KaPLd 233 1X1 

45 18 KdylA 

30 10% KoufBf 80 15 

UM 12b Knafpf UD 90 

68 Kaufd 875 IU 

52% 29ft KeHogg 176 13 U 

34% zC KeBwd 13D U 7 

ft Kenal 

19b Kaunt J0 30 15 

27% 30% Kyoto 244 SJ W 

14% 9% KerrGi 84 40 
36ft 17% KarGd 170 90 

33% 36% KerrMc LB) 38 33 

27% Mft KeyBk U 17 I 

S 2ft KeyCon 
19% M Keyalnt 08 25 17 
36% Tift Kkkle 1 JO 30 9 

84 64ft KkJprB 400 50 — . _ 

33A 39% Klmba 272 4J 18 3*7 53b 53% S3* + % 

36% 23% KnditRd 74 Z0 17 1100 37ft 36 37b +2% 

29 17% Kaaar 2J0 X2 56 103 34V, 27% 28 — ft 

29% 15% Kabnar JB U K 67 17b lib 17% + b 

. — - . 17 Kepen 004824 82 11% 18 18 — % 

16 IM Korean 24 19% UM 13ft 

44 39ft Kroger 200 *012 1341 44 - 41ft 43% + % 

27% 25 Kuholn JDeLfM 35 37 27 27— % 

11 Kdrim* 80 IJ 17 264 31b Uft 31% + % 

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Page 9 


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' ^ ^ I ,t f; V Ji • 

Free Annual Reports 
North American Companies 

v.:„ ii;5jS — 

M. <■ .’-I* J •« 


m. S r *"*« •■'! *• *i * p 

The latest annual reports from the companies listed in this section are available to you at no charge. 

Simply circle the appropriate number on the coupon at the bottom of this page and mail before July 15. 

The reports) will be sent to you by the individual companies. 

. .x 

iVlliiuia M 

**V ». 

m ijJ 


'*«■* : 

W-.IK* -J 

iun. > 

(Vji . i. - 33 

t': * ’ a 

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Allied Corporation was, formed, in 1920 and is one of the 
thirty companies . In the Dow Jones : Industrie Average. 
Affied b a diversified manufacturer of products which are 

sold in a range of 
industries worldwide. The 
company's businesses are 
grouped in five sectors: 
Aerospace, Automotive,. 
Chemical, Industrial and 
Technology and ' Oil arid 
Gas. Allied’s common 
stock is Bsted on the 
Amsterdam, Frankfurt, 
London, Basel, Geneva 
and Zurich stock 
exch an ges, and; will be 
listing -on the Paris 

Earnings per share increased to $220 from $139 in 1983. 

SI ° ver *^ e P° st five 
; years, the Company h® 
achieved a compound 
. growth rate of lfL9% in 
net Income per share 
and 149% in sdes of its 
engineered materials. 
The Company continues 


h; v:r* *> I 

to majntain a con- 
servative balance sheet, 
with a debt to total 
oapfafantion ratio of 



“A Unique Growth Company” 

MASCO CORPORATION a unique growth oompany with 
leadership market portions, has reported 28 

Masco manufactures 
faucets'- arid other 
building - related 
products and other 
speckrify. products for 
the home and family. 
Send for our -184 
Annual Report to learn 
wKy,-.-.we believe, 
Mara's earnings will 
continue to grow at an 
average annual *. rate 
of 15 to 20 percent 
over the next five 

M A S C O 

v • n ' k ^ ;■ \ K' \ 

American Can 

American Can has dramatically restructured its business 
mix tor income growth. Today, the company has three 
major business sectors: financial Services, which posted a 

21% income 
gain over 
1983; newly 
Specialty Re- 
tailing, up 
50%; and 
up 12%. 
Earnings per 
share in- 
creased to 
$4.90 from 
$3.75 for 
1983. Reve- 
nues were 
. $421 billion, 
up from 
$438 bilEon. „ 


CSX Corporation, the nation's leading transportation and 
natural resources oompany, completed 1984 with an a D-time 
record income of $445 million. Assets reached $11 A bilEon 
a rvd revenue $7.9 bilEon. CSX received ppprovaf lb' control 

American Commercial 
Lines and became the first 
U.5. transportation 
company to provide rail- 
barge- truck integrated 
One-Stop Shipping 5 ™ for 
its customers. 

CSX closed 1984 in a 
strong financial and 
physical position. The 
company will accelerate 
its aggressive marketing 
strategies for continued 



“A Competitive Edge" 

Our strategies for growth, advanced metalworking 
technologies and products of value provide Masco 

Industries with... A 
Competitive Edge. 
Masco Industries 
manufactures custom- 
engineered components 
and other specialty 
products for Industry. 
Send for our 1984 
Annual Report to team 
why we believe Masco 
Industries earnings can 
attain well -above- 
average future growth. 

r * ‘ r 

v.ASCO INHl Sl RUrs 

zsx rsmmrn, ) 

■■ T‘ a « ' 


\ . :» . • • • • . s : 



American Express reported record ecmings of $610 
million for 1984, an 18% increase over 1983. Its businesses 
indude Charge Cards, Travelers Cheques, travel, 

international and 
investment banking, 
brokerage, personal 
financial pfenning and 
insurance. Operating in 
130 countries, it is 
targeting select 
segments of the 
growing financial 
services market through 
a strategy based on 
multiple distribution 
channels and strong 
brand-name products 
and services. 



AMETEK'J sales topped one-hoff bilEon dollars for the first 
time last year, and profits increased 13 % to a record $427 

million, producing a return 
on equity of 24.3 % and 
maintaining the steady up- 
ward curve of earnings 
winch begem bade in the 
1970's. AMETEK's annual 
report focuses on new 
products — electronic air- 
craft instruments, under- 
sea robot work subma- 
rines, DC motors for the 
computer market, water 
filters and new medteeri iri- 
stru mentation. A 


Groce is the world s largest specialty chemical company and 
ranks 53rd on the Fortune 500 with sales of $67 billon m 
1984. Other areas of concentration indude agricultural 
chemicals, natural resources and consumer-oriented busi- 
nesses, mainly retailing 
and restaurants. This year 
marks the 51st consecutive 
year of cash dividends. 

Emphasis today is on new 
products intensive re- 
search, geographical ex- 
pansion and high-quality 
products and services. 

Our *84 Annual Report is 
more readable than ever. 
Our 70,000+ sharehold- 
ers are glad they looked 
into Grace. Shouldn't you? 



NOVA is a major Canadian energy company 
headquartered in Calgary. Assets at year-end 1984 were 
$64 billion. Revenues for the year totalled $3.8 billion, and 
net income (after extraordinary Hems} was $203 millioa 

The Company is active in 
several industry sectors: 
Natural gas truis p ortal io n 
and marketing, petroleun 
(through 67% owned Hus- 
ky 03 ltd], petrochemi- 
cals, tna ra ifadurmg, con- 
sulting and research. 
NOVA's Alberta system 
transports over 75% of 
Canada's marketed natu- 
ral gas production. 

The NOVA companies em- 
ploy about 7,800 people. 

• . j 

' v *r.£i 


't , ■* -i- r. I 

• . ' > r> 

Grow Group, Inc has grown from 13 million in sdes to 
over 775 million, paid 83 consecutive quarterly cash 
dividends. A stockholder purchasing 100 shares in 1965 
would own 400 shares today. The Corporation is one of the 
nation's largest producers of specialty chemical coatings 
and paints for the marine, automotive, industrial, and 

markets. Grow is 
developing o 
patented safe 
technology for 
dispensing prod- 
ucts under pres- 
sure through its 
Systems, Inc sub- 
sidiary, and a 
patented system 
for fully cooked 
chicken by its 
Thermdjet, Ltd. 
subsidiary. a 


NYNEX is a new company focused on the Information Age. 
NYNEX provides telecommunications services through New 
England Telephone and New York Telephone, markets busj- 
I ness information sys- 

tems, provides mobile 
phone service, and pub- 
lishes telephone direc- 
tories. NYNEX is o fost- 
growing company in a 
HWC-: burgeoning industry. 

For more information, 

NYNEX Annual Report, 
20th Floor, 

335 Madison Avenue, 
New York, N.Y. 10017. 



The flpgs on the cover idehrify fee countries where the Company he® 
high potential expforegion acreage. Correct exploration activities 
are conducted in the Urited States, Canada, AuriraBa, the United 

i Kingdom; The' Netherlands 
sectoa. of the ; North Sea, 
Franca,;' Colombia, New 
Zealand ard Thailand. 

The Company's proved oil 
and gas reserves increased in 
value b£ -92 percent, from 
$99 ra3Son an May 31, 7983 
to $T9Q mffion 'an Mdy 31, 
1984." Nettsfl production from 
firwxe.b.amenfly 100,000 

bcerek' pM- month. 

TKa yifri 26? 19B5 market 
vd(i« of - securities held by 
Triton in rte . subsidiaries, 
affiliates ±dnd other oil 
eompoBii«; Wos. $38P0 per 
share;compared Wiftia New 
;Y«k Stock Exchange price af 


181, Avenue Charles-de-Gau!le, 92521 Neuilly-sur-Seine, Cedex France. 

Please send me the annual reparts.of die companies circled at no cost or obligation. 

Hesse prim deed? 


NAME (Mrs.) 




Do you read the IHF s 
monthly “Personal Investing” 
feature (next date June 10). 

YES □ 

NO □ 

Are you requesting these 
annual reports for 

Personal use 
Professional use 

AH couptms should he received no later than July IS, 1985. 






Tables ineHMe ttw netiQinridfl prion 
up to the doslns on Wall Street 
ond do not reflect tale trades elsewhere. 

(Continued from Page 8) 

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37* 3m + n 

am am-f * 

27* 27* + * 
32* 33* + * 
U* 14* + * 
m 5*—* 

IM 24* 

13 * n* + * 
U* 14* + * 
78* 79* +1 
37* 38 +* 

22* 23* + * 
12 * 13 — * 
17* If* + W 
54 54* + U 

33* 33* 

38* 38* 

43* 63* + * 

1 9* 19*—* 
21* 21* + Vk 
12* 12*—* 

* 48* 

&3! + * 

im a* 

u a* 

M 44 27 


17 am 44 

U 44 4 

M » « 
A 13* 
45 435 3MV 
TM Mtt 


9 a 35* 
7 271 W* 

S£§* + * 



5 SSL 15 

45 11 950 51* 
12 1 104*' 

4J 13 443 48* 
25 30 m 
19 12 ZUI 35* 
10 U 4M <7* 
J7U 3 15* 
59 TC 548 on 
73 1 33 

19 5 13* 

30 U 3290 AX* 
14 » 441 26* 

S 31 ♦* 

18* + * 
27* 0 
41 41* + * 

am ai* + * 

< J * 43 * + * 
If* 28* + * 

74* 74* + * 
19 19*—* 

U* 14* + * 
5* 5* 

34* 35* + 9k 

w. am + * 
9 9* + * 

SB* SI*—* 
tomw4*— * 
•CZ* 43* +1 
8 0 * + * 
34* 35* +1 
41* 42* + * 
15* 15* 

17* lMk + * 
33 33 

13* 13* 

<1* 43* +1* 

57* 32* 
7* 4* 
10* n 
x a 

34 25* 

31* 24* 
44 40* 

25* U* 
II* 13* 

42 45 * 

to 49 



a sa 

4* 3* 

17* TO* 
15* 9* 

T7* 9 U 
30* 19* U 
17 17* U 

30* 21* U 
14* TO U 
32* 14* 
4t* 13 
42 7* 

Oean High Low One CTO. 

Sraon Season 
High Low 

Opan High Low Op w 


15400 Qa.- cents par fb. 

18500 15100 May 15400 15400 15100 151 JO 

IB4J5 15175 Jul 150-60 15175 14900 15070 

18200 14903 Sap 14975 14975 14700 I48S0 

18100 14800 NOV 14650 147S5 M4J5 M7S3 

18000 148.15 Jon 14695 

T77J0 748-70 Mcr UiSS 

162.50 14000 May 14695 

15750 157 JO Jul 14695 

18050 17975 StP 14695 

EsL Sales 500 Prav. Safes 140 

Praw. Day Open Int 5.904 off 53 

114 i 

- 'H i ' >0 1 "V> - 

9030 0610 Mar 9073 9070 9021 9024 

9000 8473 Jun 004 9000 074 004 

070 1708 Sap 074 074 074 073 

B9J1 8778 Dae 0J1 053 051 002 

077 0*4 MOT 024 024 024 023 

EM. Safas Prev. Scion 42772 

Prav. Day Opan intmoBS up 70 

S Par pounJ- 1 Point aouablOfiOOl 
1-3330 10223 Jun 175X5 12(40 12530 12160 

1-4450 10200 S«P 12475 17545 12440 12530 

1-TO00 10200 DOC 17360 12440 12340 12140 

17901 10660 Mar 12480 12400 IJ390 17390 

17250 1-1905 Jun 12)55 

£>«. Salas 0040 Prow. Salas 9204 
Prog. Dav Opan int. 0234 up 1762 

spar dlr*t point equals 300001 
7835 '2154 Jun 7203 7292 7267 7302 

7595 7025 Sen 7261 7263 7247 7255 

7564 7006 Dec 7244 7244 7233 7234 

7504 S9X1 Mar 7215 7215 7215 7222 

7350 7070 Jun 7210 

Est- Safes MU Prw. Safes 4757 
Prev. Day Odor InL 12710 up 675 

■ I'f r lrrl 

■ ■i '.I r TT 4 t - - 

mrftn -y 

22* 14* 
27* 10* 
21* IS* 
53 30 

99* 45 
<3 23* 

10* Mh 
25* 20* 
am zm 
Z7 21* 
22 17 * 


JO 27 I 
100 3S X 
pf 4-41*110 
pi-1225 U 
pf 225 70 
172 47 12 
572 70 9 

ISO 30 1 

& S 9 
1 JO 60 12 
JO 7 U 
JO 40 A 
IM 61 11 
100 49 7 
UB 24 11 
254 14 19 
IM 2A 11 

lJ -+T" 

«* 33* XanH 280 
53* *5* Xsraxpf JSS 
2* 19 3CTRA 44 


Wty 17 

U2 03 9 301 86* 34 34* + * 

3S4 1S3 ^^«s*:siis£»Sn ssass? 1 

10 3* 2* 3*—* 

93 4.1 4 01 2214 21 2Z* + W 

31 2* XV 3* 

[ 1 8* W I*—* 

M 0 15 7SS 31* 309k it + * 

SO 30 14 IS W* 10* «*♦ * 

SO 20 M 227 20* 19* 3Mb + * 

143 310 7* 7 7*—* 

UOCflU 42 10* TO* TO* 

07 0 0 MB 43 * 4 43 — * 

MOItS 50 44 44 44—* 

772 Its 7*47 44 0 +1 

0J4 1U 48* 77* 77 77* + * 

973 110 no* MV. am M* + * 

772 IIS I860 <8 4X4 M 94* 1 rnri lMhl 

200 IM 3M* 47 * 43* 47*— *1 gly*3t 

14 SI » XI* 21* + *' 

11 7 M* 48* 40* M 

200 00 11 97 71* 71* 71* + * 

I " I.’ ' 

04* 25* 
05* 19* 
17* 7* 
IS* IT* 
20* 1C* 
00* 20* 
30* 14* 
12 * 10 * 
57* 07* 
46* 45* 
25* 19* 
13* 4* 
H 77 
24* 20 
13* 6* 

04* 28 
17* 24* 
20 * 7 * 
17* 14* 
47 25* 






4472 — JS 

63.15 + J3 

4500 +00 

60-47 +JK 
6HJ0 —.10 
HU —00 
6900 +05 

7001 +02 

4900 +05 

4655 4407 +07 

49.10 4905 +00 

4975 +45 

4602 +05 

47JS +.18 
4075 +30 

4635 +15 

4725 +05 

4800 —JO 

Prav. Day Open tnt. USM oflm 

Jvn TRIO 7090 4904 XU9 +08 


63.90 +146 
4527 +100 
4402 +100 
7205 +05 

T235 +05 

7X47 +07 

7195 +05 


37JOO Ibx- cants par rl 

15200 12301 May M0JO 14300 14300 14000 

149 JO 12100 JU( 14X25 M4J5 14100 14617 

147.50 127 JB SOB 143JD 14400 14150 14673 

14640 129-23 Dec 14040 14640 14040 14620 

14550 TSL5D MOT 14X99 M3S0 M2J5 14340 

14500 13100 May 142J4 

14100 13550 Jul MUD MUD 14UD 14L75 

14200 132J5 Sew (4050 

E«L Sales IMS Prow. Sales 1.100 
Prav. DOY Open Ini. 1*734 off 48 

112000 tto> ce nts per lb. 

MS ZM Jul 297 112 292 111 

9J9 30A Sod X10 3J1 102 321 

*05 117 Oct 022 3J9 118 3L30 

70S 340 Jon 145 345 005 m 

903 090 Mar 402 423 400 622 

7.15 420 May 425 441 424 440 

609 445 Jul 647 658 445 457 

620 674 Sap 459 

4JM 470 00 401 401 400 495 

Esi Sates 7.175 Pray, sates 8981 
Prav. Dav Open Int 84089 up 1.173 

10 mMctea-sser ton 

MO 1998 Jut ooa 3064 2031 3M 

0415 . 1007 SOD 200 2085 2040 2047 

2337 1945 Dec 2015 3042 7015 2038 

2190 1955 Mar 2027 2040 2025 20* 

2130 I960 May 2034 

2110 19(0 Jul 2041 

Est.Sales Prav. Sales 5009 

Prav. Day Open tab 20096 off 531 
















< 7.22 

< 7-8 

— 5 



















— 44 













Stock Indexes 


■ffinp a m i® ts 

19640 17078 DeC 19400 I9W0 19300 

1969 190.18 Mar 19800 mx 19740 

p+» shim 02757 Prav- Safes 42J89 
^^OP»lnt. 40347 up WOO 
pa Inti ond 4*1 .U 

SSS AS s» m« SS SM 

21 OM 20000 one 303M 

Eft Salts Pray.Sates U2B 

Prev. Day Opwi Int 6411 off ISO 

11000 9000 Jun KR.1S 10900 WHO K»0O 

11190 9L3> Sep 11050 11200 1W4S 111-* 

111J5 10UD CMC 11205 IKOO UU5 11400 

lltxo 10950 MOT 11X20 11UD 11S30 11UI 

Est Sates MB.PW-W* 'M* 

Prav. Day OnonlnL 12006 apUOt 

Commodity Indexes 

London Commodities 

M»y 17 

High Law IM Uk Md Ask 
stsniog per metric tt» 

Aug 9(00 9220 9640 MOO 93S0 9340 

Od 10O0Q 9620 9940 9900 9600 9700 

Dec 1QS0Q 10100 10540 10660 10240 10320 
Mar 11800 11140 11X00 11820 1152011540 
May 12200 11800 12200 12300 11940 12000 
Aog 12740 12400 T2740 12X00 12500 12400 
Oct UO0O 13000 13120 UBUB 12900 13000 
Volume: 2.147 lots of 50 tans. 


Starting per metric too 
May 12(5 1255 1240 1247 1240 1275 

Jhr 1294 1270 12B3 1286 1281 12E 

SOP 1281 1244 1275 1276 1270 1272 

Dec 1755 170 17S0 1752 1747 1750 

Mar 1767 1756 1759 1760 1760 1763 

May 1275 1768 1270 1271 1274 1275 

Jly N.T. N.T. 1278 1210 1288 1290 

volume: X122 lots otlO tons. 

Martini 1 Par metric lea 
M at sbct xus 2040 2045 2058 20(2 

1110 1083 2023 1085 1113 1111 
Sep 1157 1125 1122 1125 1155 1168 

Mov 1186 1165 1158 1164 1193 X19S 

JOB 2719 2.TW 1185 ZWJ 1215 1225 

MOT 1190 1190 11» 1195 12M 1210 

Mot N.T. N.T. 2.1(0 1200 1180 1210 

Vdume: 2033 lots of 5 tons. 


U5. dailora oar nrotrlc tea 
Jun 21625 21475 21425 21500 71425 21700 
JlT 21650 21150 21340 711J5 71500 71525 
Ant 31525 Z150O 21500 71525 Z1675 Z165D 
SOP 21775 21675 XI 675 21725 31X25 21900 
Oct N.T. N.T. 217 JO 22D0O 21975 22140 
No* N.T. N.T. M0O 22300 22100 22500 
Dtc N.T. N.T. 332X0 22700 22300 23000 
Jot N.T. N.T. 22000 23000 2ZI0O 23100 
Feb N.T. N.T. 22000 23100 22100 23500 
Volume: 419 lots oflOO fens. 

Sources: Rtvtnrt anti London rmvtotun E*- 

ettange igoooU). 

London Metals 

May 17 

Close Pravieus 

8M AM BW A8k 

S tar ti n g per netrtc too 
spot 877.50 87300 0600 £00 

forward 89900 90000 90800 90X50 


SterUng pgr metric ton _ 

spot . 1,18600 1,18700 128500 1W60B 

forward 1.19000 (.19050 120650 120500 

Starttog par metric ton 
spot 1,17900 1,18100 1.19100 1.19500. 

forworn 1.17900 1,18100 1,19000 1.19500 


strrtiog per metric ton 
spot 27300 29X00 29800 27900 

forward 29900 29900 38100 32000 


Starttog per metric ton „ 

spot 408000 409000 406000 448000 

forward *43 000 402500 *4900 *41800 


Pbegb per troy ounce 

spot 51200 51X50 SK0D 51630 

forward % 52800 52900 53Z0O 53300 

YIN (Standard) 

Sterling pgr metric ton 
spat 906000 907000 924500 9JK* 

forward 903000 902500 901500 901900 


SMrfteg per metric tea 
spat 44700 44810 44100 6jM0 

forward 65300 65400 65300 65(00 

Source; SP. 

Cash Prices May 17 

Dividends May 17 

DM Futures Options 
May 17 


jbfte cdMiHh _ PWfrSeW* 

Price Jaa Sw> Cmc Jot Sea Dac 

X Ui Uf Uf Ut Uf. U 

32 W in U( U 1S3 IH 

33 0*4 L31 IJ4 071 L3I 144 

3* 019 0J2 14J 149 107 — 

34 BJT7 063 108 204 270 201 

a 004 041 0* - S4Z — 


si p.tesmsttfla 

S&P 100 Index Options 

May 27 

TtfajpOvtiwot S3JT* 


tom put area 6* HI® 

I $ HU1 Law t * J ( CteUUP+Ul 

Squfeoi CBOE. 

UA Treasury BSD Rates 
May 17 

Offer Md Yield YteW 
34»WOttl 741 7J9 746 703 

6-mentn 709 707 UB UO 

Ona ytof 74* 743 US 84> 

Sourot: Solomon Brothers 

Canada Consumer Prices Up 


OTTAWA — - The consumer 
price index rose 0.4 paceal in April 
after a OJrperceot rise in March 
and a 0 J 2 -percem rise in April 1984, 
Statistics Canada said Friday. Hie 
year-to-year rate increased to 3.9 
percent from 3-7 percent m each of 
the three previous months. 

Indians to Oft 
Capital Growth 


BOMBAY — Private In dian 
companies are expected to raise up 
to 20 bfltion rupees ($1.6 billion) m 
the domestic capita] market 
through equity and debenture is- 
sues in the year ending March 31 
1986, merchant bankers and stock- 
brokers said Friday. 

The companies raised an esti- 
mated 15 bUlioQ rupees in 1984-85 
and 8.08 billion the year before. 
The investment dimale has signifi- 
cantly improved after budget 

Q 25 - .. 7-1 

i ™ 

Q -H) 6-JO 

Q 46 4-15 

-■ • 20 6-28 

Q .JB +14 

Q 45 608 

9 - ,J + M 

Q 04 62B 

Q 43 +14 

Q 77 600 

9 48 B-7 

9 «4B - M 

| £ tS 

Q .J1 7-10 

Q .14 7-1 

Q .12 a-u 

9 .TO 400 

Q 42 +28 

0 - 55+1 
O 75 7-1 

aJShm^ : m mwuwyj CMnwmnyj sdtemK 
Source; UPL 

Peru Gets Currency 

With Three Fewer OOOs ^ 

Uniud Pros International 
LIMA_ — , Residents in Peru; 
wtoe mfla ri o nand devaluation are 
at historic levels, have begun using 

anew currency that has three fewer - 
znroesthan the old monetary unit, 

5*W Iflt^MTSkh mow 

JJf Incan Un- 

^eof OtKfcoa. About 9 mHfion 
< S“ S “S* 11 oradatingTImr^ 
day. One inn b worth I^oO soie^ 
w about 10 U5. cents, 


r ~ ye-'*** • - ^ 

-J+ +~>C; 

tf* 1 'Im 

Hy* it '* 3L 

Xi .« u |: C S 

u;,“ ■* iS *. * 

Chemical Bid for Thrift 

ii> m i, 

-S >««. 

*« *'< In. 


.5 s, 

.. TkeAssodaeiPr*s . meeting in special session Friday 
COLUMBUS, Ohio — The Ohio postponed consideration of that as 
mate on Friday defeated on a 16-' a solution to toe. crisis enveloping 

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;, g COLUMBUS, Ohio— The Ohio postponed co 

» ^ s , -Senate on Friday defeated on a 16- a solution to 
u. & 3\' tie Vote a controversial ML that' 102 thrifts. 

. ■ 1 * J 13 * ■ ■ "* (|i m mm. nf » n . Qftntn W < i 4 i 

2» n 

jfi > 

* k S?: 

would permit the use of up to 
$L253 tmffion in state funds to 

Banks so ch as Chase Manhattan 
said' they woe interested -only if 
they could convert - tbs S&Ls into 

*j '{ 5 *» £ ■ » complete the the collapsed they comd convert the S&Ls ii 
4 * '* isj? y. Home Slate Savings Bank. ; r comtnerraaL baakft sources said 

*' JL rgj 

■ fi'&'H'* 

i: *5 1 S>i 
“ A a* $ s? 

'Under the proposal, winch had 
received .House approval- only 
hourseariier, the 33-branch savings 
bank would be acquired by Chemir 
ad New York Gorp. Chemical 
would, then -receive a- state hank 
darter after potting a lQGrperceat 
guarantee -behind the. finds of 
Home Slate’s depositors. . ’ . . 

As its pan of the arrangement. 

idthad “We have Embed interest in a 
tl only" savings and loan." fodard Boyle, 
savings an executive. vice president of 
Cham- ChaseMmtoattan, smart a hearing 
basical TImraday.'. 

n. hank - Allowing out-of-state institu- 

{& & a., As its pan of 
•h *?* Chemical -would 

■2 i 

; J * >£ ? i « £ &. 
••ii ?§§£*•' 

^ '0 au‘ t Si 

eve a-siftie. van* Aflowmg catrOt-siaic xnsmu- 

ing a KKLpcrceat dons to rake over and turn Mary- 
d the. funds of bmd S&Ls into banfcs would re- 
xjsttara. . . . ~ grifte i dnngp in state law, but 

the arrangement, legislative leaders refused to take, 
pay a 52]-nnIEon up t tot kms Friday. The General 
ight toeaterOhio Assembly may redan next week, 
i and add another however, to discuss it 

Vcmium for the right toeaterOhio Assembly n 
ragandal markets and add another ho w eve r, to 
$30 nriBon for recapitalization. Governor Hany Hughes called 
Home State’s faflure on I ijfarcfa 8 FiSd^sspedal session to consider 
tnggered the lenroonay dosiM of a «£&*»<* biDs deagned to »■ 
69 other privatdy insured <»iio confidence shakm last 

thrift .institutions by Governor , rotations that serious 

Richard Cele ste . All bntahandM y ^AWc ^ CSJ Coon Savings & 
of them have since reopened after had readied in a rfiang e in 
meeting a newly enacted require-. 

mait fOT federal toraoce. The-niwstiiggfftd a nmon Old 

£=iKSC= BS,sasSSaqs 
gag gaga- 

< ^^e I &mate adjourned' nntil .■ 

Tuesday, leaving the fate of tlm^ Mr. Hu^ies said Riday that die 
measure in doubt. A motion to re- -stare hasnp legal reaponabihty to 
rtwirfw n rethe rriadehy a senator depositors in 102 (Uivately insured 
r^io voted on the prevaffina adc — S&Ls, but that it has “a vtay strong 
in dnscnseames^a^^mcastano mmal respansakfity** to see that 
■ -- ----thi^^ Aeir.iumey. 

In Maryiand, meanwhile, several The JOTS&Ls, which have assets 
major bank-holding companies of about S9 Mfion, do not have 
hive expressed interest in buying federal msnrance bet are backed by 
into die state’s trocWed savings the privatib Maryland Savings- 
and loan industry, acconfing to in- Sharelhsurance Coip^vdiicfais not 
dustry sources. But legislators funded by the stale — 



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— <U] AMOBGrOMttiF 

— {wi Dtwrtmd 

—fart Fi r Amfltn. 
i— fart FIF— Eurmw— 
— 4v) FIF— Podfk; — 

Exxon Names 
New President 

The Associated Pros 

Corp.’s directors on Thursday 
named Lawrence G. Raw! pres- 
ident, su c cee d in g Howard C 
Kanffmann, trim retired after 
10 yean as president and 39 
whn the company. . 

Mr. Rawi, a director and se- 
nior vice president since 1980, 
was elected president by the 
board after the amunl meeting. 
His election had been expected. 
He joined Exxon in 1952, serv- 
ing in a variety of jobs with the 
parent corporation and its 
Houston-based domestic sub- 
sidiary, Exxon USA. 

The company also said it has 
bought bade 4J? mflfiop shares 
of its stock, for $250 minion, 
«w* the i wy i nn i ng of ApriL 
Exxon began its stock bu yback 

Japanese, Canadian Firms 
To Set Up LNG Consortium 

in July 1983 and repordtased 
102 mmioa shares for $43 1 h 3- 
fion throtuh the end of die first 
quarts of this year. Exxon has 
not said how many shares it 
intends to rep urch ase. 


TOKYO — ■ One Japanese and 
four Canadian companies have 
agreed to set up a consortium to 
promote a Bqudied natural gas 
project in Canada. 

John Keehan, vice president, ex- 
ploration and production division., 
at Mobil Oil Carp., a rant of Mobil 
Corp n said at a news conference 
Friday t h«< the consortium would 
assess the viability of a project to 
produce and ship LNG to Japan. 
The ownership is 30 potent each 
for Mobil On Canada Ltd. and 
Petro-Canada Ino, 15 percent each 
for Nissho Iwai Com. and West 
Coast Transmission Ltd. and 10 
percent for Suncor Inc. 

The consortium plans to estab- 
lish a permanent organization by 
the end of the year to handle the 
prqject after Dome Petroleum Ltd, 
the former managing company, 
dropped out last year, Mr. Keehan 

LNG a year to Japan for 20 years. 
The gas would be produced from 

fidds in Alberta and British Co- 
lumbia and transported through & 
new pipeline from eastern British 
Colombia to an LNG plant to be 
brail on the coast 

He said the consortium would 
start detailed negotiations in To- 
kyo on Monday with bnyers: 
Utubu Electric Power Cb^ Kyushu 
Electric Power Gt, Ouigakn Elec- 
tric Power Co. and ToboGas Ca 

To make substantial progress, 
Mr. Keehan said, the buyers must 
agree on sales, transportation and 

A Nissho Iwai spokesman sad 
earlier that suppliers and buyers 
had generally agreed on a price- 
escalation formula based on a link- 
age to energy prices comprising' 70 
percent dl and 30 percent LNG. 

Union OH Canada and Pan-Al- 
berta Gas Ltd, which both showed 
interest in participating in the pro- 
ject, decided not to join the consor- 
tium. However, Mr. Keehan said 
Union (Ml was still considering 
joining the permanent o rganiza tion 
that the consortium expects to es- 

American Motors Carp, workers 
at the Kenosha, Wisconsin, plants 
overwhehnhigly rejected a compa- 
ny request to accept immediate 
concessions in wages and fringe 
benefits bnt called for negotiations. 
The contract between AMC and 
Local 72 (rf the United Auto Work- 
ers Union expires ScpL 16. 

Kcmira OY, Finland’s state- 
owned chemicals company. wiD 
pay $100 million fra American 
Cyanamki Co.’s titanium-dioxide 
business, mrimting the manufac- 
turing plant at Savannah, Georgia. 
The ptoitf has an annual output of 
around 88,000 metric tons and an- 
imal sales of about $135 million. 

MUnsUtS yi *i tri e IlwhrctTTHl 
Co. and Beijing Electron Tube Fac- 
tory Co. have set im a joint venture 
to produce 13 mOfion color-televi- 
sion tubes a year in China. The 
joint company, capitalized at about 
30 bOHon. yen ($120 nuDhmX will 
be set up after agreement is readied \ 
on shares and cost. China’s total : 
imiiniil output is 13 nwlHfan tubes. 

Mitsubishi Electric Gorp. plans 
to set np its third US. plant, in, 
Atlanta, to produce color televi- 
sions. computer displays yurt car 
telephones. Construction is to be- 
gin in mid-1986. Mitsubishi has a 
cotor-teLevision plant in California 
and a semiconductor plant in 
North Carolina. 

Mazda Motor Corp- expects re- 
cord profits and sales in the year 
ending Ocl 31, 1985. Exact figures 
are unavailable, but Current profit 
and sales in 1984-85 will exceed 
earlier estimates of 57 billion yen 
($226 mOlion) and 1.520 billion 
yen. compared with the previous 
record of §533 billion yen in curem 
profit and 1,432 billion in sales. 

JSissbui Steel Co. has acquired 
96 percent in Thin- Sheet Metals 
Co. of the United States for about 
$20 million. Thin-Sheet Metals, an 
unlisted company capitalized at 
$300,000, is the third Jaigest US. 
producer of such products as cop- 
per alloy, nickel alloy and thin 
stainless steed sheet. Annual sales 
are about $20 million. 

United Technologies Chip, said 

it expects operating earnings in the 
second quarter wflffafl from a year 

second quarter wfliTaO from a year 
earlier. It attributed the downturn 
to its Mustek semiconductor busi- 
ness and said it would restructure 
Mostek. making substantial em- 
ployee reductions and “mothball- 
ing” the facility in Colorado 

VoOcswagenweifc ACs Wolfs- 
buig plant will work one shift on 
six Saturdays this summer to meet 
extra demand. It will produce a 
total of 8,000 extra Goti and Jetta 
models and 1,200 extra Pdas. 

Westpac Banking Cop’s profit 
rose 29 percent in the su months 
ended March 31, to 185.4 miltian 
Australian dollars ($127 million) 
from 14332 million in the 1984 

Senate Unit Plans Hearings on Corporate Crime 

New Tort Times Sendee 

judiciary Committee has said *h«t 
it would hold hearings on die Jus- 
tice Department’s hurtling of “fi- 
nancially sopbistiqgted w&te-col- 
iar crime,” - including the recent 
prosecution of EJ\ Hutton & Co. 
for fraud. 

nice “ At a hearing on Wednesday, he 

IheSaiate ^ , rf , _ ^ _ said that the decision not to prose- 

ts said that Griffin Beil to Conduct Hutton s Probe cme mdmdnai wrongdoer, at hui- 

on the Jus- ton was “a travesty, 

g-p _e ««_ Reuters Peter F. Smith, a spokesman for 

whitocol- NEW YORK — EF. Hutton «k Co. said Friday that it had retained Mr. Biden. said that Justice De- 
the recent framer Griffin B. Bell, a former U3. attorney general to conduct an partment offirfak probably would 
nnf1 £ Qj independent inquiry to determine which individuals should be held be called to testify at the Hearing s. 

accountable for the 1 980 to 1982 mail and win^fraud variations to which “We don’t know vet if the execu- 

1982 mail and wire-ftaud victorious to which “We don’t know yet if the execo- 

rnnirnr nann.,1 aid* «?rt that the the company pleaded guilty May 2. lives of all or any of these firms vrin 

heariSS^SkSealock Robert Fomon, chairman, told the annual meeting that Mr. Bdl would be called,” Mr. Smith said. “The 

hanrttina nf review the practices to winch the company pleaded guilty, determine how focus now is what went on at Jus- 
the arc against GeuSEtoetric those practices evolved, identdy the mrfivtfuab personally responsible tk^” 

the case against General Electee 

to defrandmg the U3?Air Force of 

The hearings were requested by 
i Senator Joseph R. Biden of Dela- 

and nuke recommendations about his finefings. 

rtvtnrt, a Republican from .South The brokerage p 
C- nrnifna No date for the hwiring s 2 to defrauding 1 

The hearings probably will also 
look into Sperry Corp.’s conviction 

of banks 

ware, the ranking Democrat on the has been set, although they are ex- through an daborate check-writing said. ^ vras the fim criminal prose- 

committee. He has alleged that the 
department may have mishandled 
the Huttm and GE cases. 

peered to begin next month. 

In a letter to Mr. Thurmond car- 


cation of a major military contrac- 

“I am not certain that that ap- tor for overc har g in g. 

the Hutton and GE cases. her this week, Mr. Biden -said that proach sends a dear enough mes- Mr. Smith said that it was un- 

Hs request fra the hearings was he was concerned by the Justice sage to corporate management, and' dear whether the hearings would 
approve Thmsday by the commit- Department’s decision not to pros- it results in at least the appearance be before the full Judiciary Corn- 
ice chairman. Senator Strom Tbur- ecute individnals at EF. Hutton, of inequity," Mr. Biden said. nrittee or a subcommittee. 

PB ran. Tte HMW on) Aim 


—fart Cooftal mn FWd 

—fa») CDriW nafluSA 


tee chairman. Senator Strom Thur- 



• Untied Pros International 

NEW YORK — _ Venezuela 
and a 13-bank wodring cornirti- . 
tee Friday readied agreement 
to restructure virtually all the 
$20 MKnn of the Latin Amer- 
ican nation’rpttobo-sector ddit 
that, is hdd by comm ercial 

Venezuela has .agreed to 
make a downpayment of $750 
nation on p""«p«l when the 
accord is implemented. The 
country is current on interest on 
public sector debt. 

Venezuela did not ester into 
agreement with the Internation- 
al Monetary Fund but will in- 
stead suborn to monitoring un- 
der Article IV of the Brcdon 
Woods agreement that estab- 
lished toe IMF. 

Chinese Growth Called Too Rapid 

Reuters shortages of raw material could not 

BEIJING — Chinese econo- be solved quickly and would be- 
mrrt<; warned Friday that the ccon- arme worse if growth was too high, 
omy was stStt growing too fast do- “Generally speaking this ultra- 
spite government measures to fast growth cannot be supported in 
retome rapid growth. the long-term by our raw-material 

Writing m the Peoples Daily, and power resources, our transport, 
the economists said toe value of finances, foreign exchange and en- 

Gold Options .*«>. 

TOflMMO — — 

SSL 720 tmws 

175- SCO T275U3 2UM230 

os. us fouaai kshs 

«a>. 75a aamss 

— — 4m toauis 
— — 275- as 753- 903 


the economists said tbc value of finances, foreign exdu 
indnstnal output rose 23 percent m vironment,” they said, 
the first quarter from the like peri- 
od in 1984. 

They gave no overall figures, but 
said the economy was ahrady over- 
heated and the growth rate could 
not be sustained without serious 
problems developing. 

“If we go on striving for produc- 
tion increases at the present ex- 
treme rate, contradict io ns wall be- 
come even more prominent,’* the 
economists, Wu Jinglian, Ding 
N mgmng and Li fiagg^ sa id in a 
joint artide. 

They said production bottle- 
necks such as energy, transport and 

TOcvsWUteWcIi SJL 

t<N*»li i» Wit 
1211 Gcam LSNbnW 
Td. 31«Z5I - Trim 2UBS 

| Sociclc Anonyme 

Registered Office: luxemboug - 2, Boulevard Royal 
R.C. Luxembourg B-6734 

Messrs. Shareholders are invited to attend on Wednesday, 
June 5, 1 985 at 1 1 a.m. at the Registered in Luxembourg, 
2 Boulevard Royal, the 

Annual Sharehoders’ General Meeting 

with the following agenda: 

1. Directors* Report. 

2. Statutory Auditor’s Report. 

3. Approval of the Financial Statements for the year en- 
ded December 31, 1984. 

4. Appropriation of 1984 net income. 

5. Discharge of Directors and Statutory Auditor. 

6. Directors' and Statutory Auditor's fees for toe year en- 
ded December 31, 1984. 

7. Determination of the number of Directors and election 
of Directors and Statutory Auditor. 

8. Authorization of toe Board of Directors to repurchase 
the Company's shares. 

In order to be able to attend the meeting, holders of bea- 
rer shares will have to deposit their bearer shares five dear 
days before the date of the meeting, at toe Registered Of- 
fice of the company or with one of toe following banks: 

— in Luxembourg: Banque Internationale & Luxembourg; 

— in Italy: all toe leading banks; 

— in Switzerland: Credit Suisse; 

— in France: Lazard Fibres and Cie.; 

— in the Federal Republic of Germany: Commerzbank; 

— in Great Britain: S.G.Warburg and Co., Lazard Brothers 
and Co.; 

— in the Nedertands: Amsterdam -Rotterdam Bank; 

— in Belgium: Banque Bruxelles Lambert. 

Holders of registered shares will have to inform the Com- 
pany within toe same time (apse of their intention to at- 
tend toe meeting. 

The Shareholders are requested to comply with artide 20 
of the artides of incorporation. 

Shareholders may, on and after May 17, 1985, inspect at 
toe Registered Office of the Company toe annual report 
and the text of toe proposed resolutions. 



(Conthmed from P^e 7) 
new kind of problem: pora-qoafity 

•The problem today is deariy 
that of asset quality,” said Dennis 
J. Jacobi, an economist with toe 
U.S. League of Savings Associa- 
tions, toe trade ©wp for toe sav- 
ings and. loans. “Tins is brand new 
for our institutions.” 

■ Unto recent years, savings and 
Joan associations invested almost 
exclusively in mortgages oc homes. 

The thrift units’ primary prob- 
lem between 1980 and 1984 had 
been high interest rates. They had 
to pay higher rates to attract and to 
keep funds than they were earning 
on their mortgages, which had been 
made years when interest 

rates were far lower. This caused 
aboot 1,000 thrift institutions, ora 
fourth of toe total, to go out erf 
business in toe past five years. 

Thai problem has eased consid- 
erably in toe last year as interest 
rates have declined, according to 
Jonathan E Gray, a thrift-industry 
analyst at toe New York securities 
firm of Sanford C Bernstein & Co. 

But Mr. Gray said he now was 
worried by toe surge in losses as a 
result of the thrift units' attempts 
to earn more money by investing in 
non traditional Gelds, especially 
real estate development. He blames 
deregulation for having given the 
thrift units the power to use deposi- 
tors’ money to invest in risky ven- 

An invitation 
to Oxford. 

The International Herald Tribune and Oxford Analytica 
present a Special Conference on 
The International Business Outlook. 

Christ Church, Oxford, September 19-21, 1985. 

Finding Bonn’s Successes 

(Continued from Page 7) 
business cycte and toe slow dock of 
changes m economic philosophy 

and managaneuL 
The summit leaden, assembled 
m amiabfe banter away from home 
bra subject nevarfbdess to toe 

domestic political pressures, have 
had tittle success in following 
through oa thar occasional agefr- 
meats to recalibrate their own ouri- 
ncss-cyde clocks. 

. Viewed from toe perspective of 
the slower dock, howva, Bonn for 
the first time demonstrated an im- 
portant chang e. Unanimously, the 
countries rejected toe conventional 
Keynesian notion that govern- 
ments raise taxes to reduce budget 
deficits during periods at economic 

; Mr. Reagan challenged sucfapolr 
ides at his first summit coalacacc, 
ia Ottawa in 1981, signing instead 
for reducing government spending 
and freeing die mari^lnce to gen- 
erate growth and jobs. But be crat- 
fnsed toe argument in also toasting 
that deficits had little to do into tite 
rise in interest rates and the ddlar’s 
strength, so his summit partners 
derided alL aspects of Reagano- 

--Tins year, tte-. administration 
conceded 'a connection in promis- 
ing to reduce budget .deficits. That . 

left ttesmnmit nation$.free to pon- 
der The other features of toe Mr. 

Reagan's potides, particularly toe 
UA record of poft-racession job 
creation against their own intracta- 
bly high unemptoymeaL. - 

“Each of our countries wiB exer- 
dse firm control over public spend- 
ing in rader to reduce budget defi- 
cits," the economic comrarariqufc 

.“I was therein ’81 and *82 when 
they questioned us,” Mr.. Baker 
said. jTbey were very unreceptive. 
Now there’s no debate about 
vtoetfaraecQuomiestotwld institute 
toe same pro-growth adjustment 

Phffippine Ftnn^ Banks 
Fail to Reach Debt Pact 


MANILA — Planters Products 
and its foreigu creditca? have failed 
» reach agreement on a settkmeat 
of toe company's debts but win 
meet again' on May 24* a company 
lawyer sail Friday. Several of the 
F&urppmes* foreign creditor banks 
have tied settkmenrof PPTs debts 
to their approval of a new, S925- 
mflfion credit fra toe government. 

However, a rootoman for Prime 
Minister Cesar Virata said that the 
signing of toe new government 
credit -would proceed, as scheduled 
cm May 2Q1 Pn, the country’s bigr 
gest fertilizer maker, owes its banks 
about $90 ririffion. 

■ . vl 
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Page 13 


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% V.^B. 

V 'SJn -t (CoaSaaed from Page 7) . 

'] £' 3* inleniatiooal Monetary Fuad vir- 
•» 5; 5 5 iuaHy dictated the borrowing aa- 
ii ^ [■ ticm’s economic polities. Austerity 
y } resulted in dots that rattled newsies 
■sJ H in. Morocco, Tunisia, Egypt, the 
iPonrinican Republic andJanatca. 
iS^Tn Itecoup d’etat in the Sudan eariter 
4 *f 5 'J, £ *this year deroonstiaiedthai anstcr- 
'■» «{; tiS «ity measmes.can qmddy topple a 

? sD, . “Idon’t think that’s my qtres- 

! «T A j 

.? \ $ f 

: ij 1 ’ 

\ ? . • “I don’i think there’s any qtres- 
\ $ - lion that they are less halite' to 
S'* TnuMnatipnab than they used to 
be,” said Anne O. Krueger, drief 
1 ' economist ofthe Worid Bank, re- 
|j $> ' faring to devdqpmg coontries.- 

• Mm. _ 


♦* , 


«i R4 ! 

> «.»■». _ 
•■» 4>|i« -, 
■XX itii-t.., 
IX. Al>„,. al 

• -I A»v „ 

r •. 

I» <•*!■, 


l>) Mf.n,, 
«*» i», ' 

y 1 An. . 

“■ XV* h. r 


A ' k, ,,| 

• * RlH'. .j 

M* *.-| n .|. 

'4 JV—.h,. 

It *!».;• • 


«• 4,-.' . • , 

' • it..r. •,.. 

*•''** »» ■ vra, , 
'•» it :. ... 

’ »•*>,- 
■ Ifc !t ».Vr 

f** ^ 

'•■. A-o >l- 

. A. »!;. 

: • «v - -i . 

: Of 'aanse, suspiaons linger on 
bodi sides, and in some cases do- 

* ik Imestjc interest groups have arisen 
' J y ^ 5; soch as computer compares in 
™ ^ hix Modco — that try to icq) out 
5 t foreign adversaries. And nations 
:j »J; \\ such as Argentina may make cyer- 

^ I s S 'tnres to companies in certain in- 
£ aj p ?■ X dustxy gronps,_bat they are. Car' 
b aboliaiing afl restraints on 

i,3jr U Ycireigh iiivestments: 

- Beyrod the practical deinand far 

, J 7^* .multinationals from bogeymen to 
si] ,• ^ J benefaettos probably also xOteds 
5 an intellectual shift of position,'* 

i: ' ’reassessment -of the threats posed 

‘ by big frneign companies. 

- “There is a bin change now," said 
« s \\ ‘Tolo Beavogm, ambassador to 
it ’! v Washington fromGmnca. “A lot of 
a ,j < ? African countries are opt a for in- 
5 J «. 5* vestment — for exan^ae, Sendai, 

: «H%i . Ivory Coast; Mali— because we db : 
\ J* & ^^hot have finaiKes. We need & 
i' r) nances and we need technciogy" 

^ 3; f 1 j The change is taking many 
forms. Some countries, induing 

• Ini SS ' Tflnwimi nul PmaiW . m dmn* 

HM ! 

*5 lill '{. * rMexfco, are. patting out the ytet- 
J jh «S\ come mat bai genaaSy permit a 
’inultiiiaiional tohave only a nmor- 
U *i * ■ ity stafcem an enterprise. Anstrafia 
* i is litxnshq; foreign banks. Algeria 
wl*,? :is drculatmg .a new inves fmwit 

— -^e whh tax benefits for mnhina- 

'7^7'r- ^firmals. Ctdombia is triHwg nmlfr- 
: ix. j.L nationals that they can pursue 

rights imderinteraancnal law. And 
Canada is revising its laws to expe- 
dite approvaT oi foreign, invest- 

The new paEaes are not likely to 
result in an nmnofiate flood of new 
ioveameitt becatse asjxsate in- 
vestment decisions tend to bemade 
far madvance^ Indeed, new tnvest- 
meat actually fell in 1982 and 1983 
when much of die wodd was in 
lede^otL.But the IMF.expects di- 
na - inveszznmt io.Rbcond and 
grow stearffly oyer the next five 
years. ' 

“There’s a dear-cuttodency to- 
ward highw learek of such invest- 
ment,” said - Lawrence C. 

tiaoed that not even the most allur- 
ing of policaes woelScdy to entice 
businesses into some of Africa’s 
povertjF-stadcen dooctnes, where 
the m&astnictDre is weak and mar- 
ket* are anaH- 

Profound changes in, the rela- 
timnliip between Timlrinarimmlg 

and host countries appear to nn- 
dedteihe new Investment Ornate. 

“There are a lot more multina- 
tionals around, especially from Eu- 
rope and Asia, ana thafgjvesdevd- 
opuig <xrantrics mOTe leverage,” 
said Stephen D. Rrasner, professor 
of political science at Stanford 
• University.- 

Peter Hansen, executive director 
-of the' United Nations Center on 
Transnational Corporations, add- 
ed thm *a flgnifipiTif faefrir has 

been that developing countries 
gained a great deal of experience 
and can meet co mpani es with a 
groat deal more self-confidence 
than, in the eariy 70s, when I thwiV 
they overwhelmed.” 

Moreover, expats say that mul- 
tmationals sometimes seem more 
circumspect than - they - were de- 
cades ago, when they more rcadDy 
confronted governments. ‘The 
abuses are fewer and die suspicions 
less,” said Mrs. Krueger of the 
World Bank. ■ 

IIS. -corporate giant* were an 
intimidating lot when they went 

abroad, in many cases for the first 
time, in the J9$0s. 

The international oil companies 
are suspected c# helping to depose 
a populist I ranian p rime nwuster, 
Mohammed Mossadegh, in 1953. 
Many people think that United 
Fruit Ox’s depute with Guatema- 
la's leftist president was a principal 
reason for the UA-backed inva- 
sion there in 1954. And ITT Gap. 
was widely believed to have tried m 
the eariy 1970s to depose Salvador 
Aflende, Chile’s So cialis t president. 

Such apparent interference, 
helped feed a distrust of American 
“economic imperialism,” for most 
of the big companies woe Ameri- 
can. A generation of kft-lc»Jwg 
nationalists — Kwame Nkrumah 
in Ghana, Gatnal Abdel Nasser in 
Egypt, Indira fianHlri in India — 
railed at the companies, sometimes 
narionaK7Tpg lhgrrj always nar- 
rowing their scope of operation. 

But go-it-alone strategies have 
generally not worked very well in 
Africa or Latin America. Countries 
found themsel ves starved of c*«h, 
unable to buy needed imports or 
even to exploit their own natural 
resources. The last five years have 
been particularly rijffrmlt for many 
developing countries because of 
falling juices for the commodities 
they export, rising interest rates on 
their foreign debts, and a global 

economic contraction that de- 
pressed demand for thdr products. 

Guinea is an example of the re- 
sponse in many African countries. 
For long an isolationist state that 
spurned foreign interests, Guinea 
began to warm to foreigners is the 
1980s and opened up much more 
after the death of its maverick pres- 
ident, Ahmed Sdkou Toarfc, a year 
ago. Last October, Guinea adopted 
a 40-page investment code that 
specifies the rights of foreign com- 
panies and now permits multina- 
tionals in all sectors of the econo- 
my. Texaco Inc. has been 
manufacturing lubricants, and con- 
tamers, for a year and a half in 
Guinea. “It is going beautifully to 
the ynntual satisfaction- of both of 
us," said Jams G. Baytes, a compa- 
ny spokesman. 

But for all the enthusiasm, Ray- 
mond Vernon, a Harvard Business 
School professor who has written 
extensively on multinationals, 
warns that inherent tensions re- 
main between host countries and 
foreign companies. ■ 

“Underneath, nothing has 
changed,” be said. Countries are 
better informed today, and can 
strike better bargains, he added, 
but the international structure of 
mnltfnflrinrHiig will almost inevita- 
bly land to clashes with the nations 
they operate in. 


(Continued From Back Page) 


Conns our office m Mmicfc 
Pater Ua b adw r Tax Fm Obk. 
Tbc 5214751 Tal 89-8576021 
We wS mw MBtCTPK. BMW. 
Fondc, Farrori end £*» xnokai 

Often k» free canal low ohoB. Al 
acta & types: new & used Fad de*v- 

Company Earnings 

Revenue and profits, In millions, ore In local currencies 
unlen o t herw is e Indicated 





PA. PARIS 525 81 01 


Tounn, educated, degoni & mUrgud 
tar days, ewengi & travel 
PAMS 530 Q2 84 

TOKYO 475 54 80 

Evrepm Vowg Lady Cdmpmwn. 

PARIS: 520 97 95 


PAMS 704 80 27 
RsprewntOM. mutoirguaL 



must do to bring a car into the US. 
nWy wd legc«y. h indudu dm & 


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Sieves. To now As mtnei, send 
US$1 8JQ (odd US$1 SO for pasknejte 
Pi- adrnidt Patffaeh 3131 
7000 Stuttgart 1, West Germany 


» — ■ ■ 


UfOuar. TMB im 

Revenue liAto. A71EL 

Prams suit 3S2JJ 

Per Share 0382 aU7 

ves- m* no 

Pretax Met _ su 7ai 

Per Share 0413 (L7B) 

United Slates 

American Bakorios 

OprrNet U4 US 

Oner Share— 034 9M 

weir txciudm Hot tosses or 

Campbell Soup 


Per Share 

lma »3i6 
514 44J 

U0 145 

Revenue xsaa awa. 

Met toe. \stA i tfj, 

Persnere— 4J1 . AAi 
minim and chere* o/ U3 ntrf- 

mow. ms i«h 

Revenue Wl l .51 o. 

Net ln& 125 JO 147.0 

Pvr Share OS1 057 


Revenue 3386. 1790 

Oeer Net 2«&0 3400 

Oeer Share— Ote 094 

1*4 +manth nrt udWbs 
gala ot St tt million. 

Coash d 

INQea r. ms MM 

Revenue _ 1510 1J7U. 

Net Inc. 3M 502 

Per Share UO 142 

TPM net tndadta oak) of -ts 
cents a snare. Per shore re- 
sal tj od/utted for 3-tor-? soft! 
Mov 16. 

KtOear. M 0 1964 

Reverie-- ooa 4«o 

Net Inc. 1113 79J 

Per Share — 075 052 

mS net Muds* gain of SSI 

SUpptae Wfrwui U5A. 
UATMAr Antwerp (31 234 3 

MATMA: Antwerp (3) 234 36 68 
234 35 72 
SpecM CmSfioa M«M Wxfeg 
Antwerp SwM Eurotel 

' M •""* :e 3 »■. ,t,T 

41 \ H^Jle-lotm 





for MMEDMTFdeEvwy 


Taunusstr, 52, 6000 Franfcfurt, 
WGorm, Id (R 69-232351. Ac 41^559 
Infeneabon only by p h e ne or teles. 


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rue MiDDBBOLRG 7482 
1170 Bruaek 
IBs 2-673 33 92 
BX-- 20377 


We Detver Cart to the Wodd 


Keeping a consort Rock of more dot 
300 brand new on. 




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XXVI Dyncety green glazed 7^ JZOOO. 
Photoi on request 

186 Awe. Pesscort, 06100 Mee, France 

212765-7793 .* 76S7794 




To the Greet htands. Turkey, 
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Snfaw Ennry Monday from Piraeus 





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every Monday & Friday from Piraeus 

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Teknc 21562), Phone 3228883. 


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PARIS 562 058, 

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Athens: 361-8397/360-2421. 
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Capenbaaen: (01)329440. 
Praehhnt: |069J 72-67-S. 
Laomna: 29-58-94. 

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leaden: (01) 8364802. 
Madrid: 4552891/455-3306. 
MNanr (02) 7531445 l 
N orway; (03) 845545. 
Rome: 67*3437. 

Sweden; 08 7569229. 

Tel Aviv: 03455 599. 
Vtorova: Contact Frankfurt. 

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Ji-V -» 

Page 14 


1 David, for one 
5 Fountain 

18 Lead weight 

IS Cole adherent 

1* Leigh Hunt 

20 State 



21 Middle 
Easton liquor 

22 Forum wear 

23 Golfer figuring 
his score? 

25 Tournament 

27 Resembling a 

30 Word with 
scout or show 

31 Actress — 

May Oliver 

32 Compete with 

33 Spinin a roleo 

34 Evening party 

37 French legis- 

38 Material for a 
fur coat 

43 Lindbergh's 
guest on the 


1 Suffragette 
from Ripen 

2 Busy as 

3 One of the Truk 

4 A golfer at 

5 Glossy fabric 
8 Japanese port 

7 He crashed 
with a Ford 

8 October drink 

8 Actor Paul 
from Brooklyn 

10 Rotate the 
hand, in a way 

11 Revere 

12 Music makers, 


46 Federal agey.: 

47 Polynesian 

native of N_Z* 
49 Levin or 

51 Durable wood 

52 Beard grown 
by an oats 

53 What golfers 
strive for? 

803-F connection 
01 Units of 

*3 Revoke, in law 
64 Peeled rice 

68 Modem Italian 


69 December 

71 Checks 

72 Mead wrote 
about them 

74 Put duds on 

75 Golfer's 

78 Joker 

80 Hole-in 



14 Coarse 

15 Delays by 

16 Mislay 

17 Stravinsky 

18". . . I shall not 

24YfeI — gift 

26 Ark. city near 

29 Lendl of tennis 

32 Take it easy 

33 Shamir's 

34 Basic igneous 


81 Needlefish 

82 Motorist’s org. 

83 Lyric poem 

gS “Bei Bist 


88 Golfer's 

92 Chum up 

93 Eclairs, etc. 

95 Steal finishers, 
oft Ml 

96 Chemical 

98 Tills the soil 

99 Lead-pipe 

160 Hosea in the 

Douay Bible 
101 Legal petition 
104 India’s official 

.100 Golfer's 

Ill What single 

golfers try to avoid? 

113 Kin: Abbr. 

114 Kind of kitchen 

115 Stage direction 

116 Tibetan monk 

117 Certain biog. sketch 

118 Resided 

119 Beloved ones 
128 Norse 

mythical giant 


35 Iowa city 

36 Golf -club 

37 Ancient 

38 Hawthorne's 

39 What a 
golfer might 

46 Moslem decree 

41 In the buff 

44 Personnel 

45 Specialized 

48 Creeping S-A. 

54 In 


Not for Duffers by jeanette k.bru. 







I ts 0*9*000 hEB c 

Busy, h^aius 









56 Tomato blight 

57 Minimum 

58 Lab sci. prefix 

59 Gunther's 

"Inride ” 

62 For every 

65 RR depot 

67 Bedtime 

68 Adherent of a 


69 Jazz dance 

78 District sacred 
to the Moses 

71 Eschars 

72 Large quantity 

73 Berlin’s" 

Salome. . .” 

76 Gulae 

77 Mari,e.g. 

79 Sets 

84 Sacerdotal 
86 Wide 

C New York Timm. mBted by Eugene Msdaha. 

down down 

87 Produced, as 

88 Lofty 

89 Put under 

96 Abetted 
91 Paschal times 
94 Be li ever in one 


99 Kind of servant 

100 Flat 

101 Hairstyle 

102 Commoner 

103 Hungarian 

104 "Tbe Re- 

port,” 1978 

105 Theatrical oik. 

106 Khachaturian 

167 Appellative 

168 Bor 

lit Uncooked 

112 Compass dir. 


you LOGIC 

■-r FLO tr 


By John D. MacDonald, 208 pp. $15.95. 
Alfred A. Knopf, 201 East 40th Street, 

New York, N. Y. 10022. 

Reviewed by Don G. Campbell 

T HE SUSPICION abounds that the real fans of 
novelist John D. MacDonald would buy and 
nsad everything the man writes, even if his entire 
literary output were confined to the dosage direc- 
tions on patent medicine bottles. The likes of his 
following have not been seen since the days of the 
great buffalo herds in the American West. 

Needless to say, then, the occasion of [he publica- 
tion of MacDonald's 21st Travis McGee adventure, 
"The Lonely Silver Rain," is nothing to be lightly 
shr ug ged off. although those of us who discovered 
MacDonald back in his pulp magazine days after 
World War II take the miner snobbish view that the 
Johxmy-Come-Latdys, the P.T„ or Post-Travis, fans 
don’t really appreciate the true scope of the man's 
prodigious stomeDing powers. 

Admittedly, however, the charismatic host of the 
Busted Flush, the Fort Lauderdale-docked house- 
boat that serves as McGee's base of operations, 
never disappoints. Half buccaneer, half glistening 
knight the craggy champion of underdogs ana 
abused ladies is not your usual adventure novel 
hero. Nary a new Travis McGee adventure comes 
onto the scene without illuminating more depth and 
complexity in tbe man's character. 

The book opens in a deceptively routine fashion 



with a request from an old friend, now in the big 
bucks, for McGee’s help in tracking down his new 
yacht, stolen from him on its shake-out cruise by a 
slack-jawed juvenile delinquent and his cuddly girl- 
friend. Not, the lulled reader says, sniffing disdain- 
fully, the sort of chore that will long thwart tbe 
resourceful McGee. 

Nor, sure enough, does it, despite the fact that tbe 
job is tridrier than it locks on the surface. How do 
yoa locate a stolen yacht? From the air, of course, 
but with Florida's hundreds of marinas where one 
boat looks, from the air, like a thousand others, and 
where there are thousands of miles of shoreline both 
on the oceans and the inland waterways, it is still no 
small task. 

Anyone with journeyman status as a MacDonald 
fan should know, that, so far, the finding of the 
yacht is a Travis McGee standing-on-his-faands feaL 
And even tbe grisly contents of the r ecovered yacht 
— the two teen-agers done in most foully, pins a 
third, unidentified girl — are fairly standard fare. 

But MacDonald has little patience with s tandar d 
fare and, in short order. The Lonely SQver Ram” 
starts taking on new dimensions. The story, based in 
Florida as it is, not too unexpectedly leads into the 
Mexico-Latm America drag traffic for which Flori : 
da is the logical conduit But if the loyal reader isn’t 
particularly surprised by this plot turn, he certainly 
is by the next We suddenly have in Travis McGee 

Solution to Last Week’s Puzzle 

□□□□E !!□□□□ □□□ □□□□□ 

aanne uuaciua □□□□ :□□□□□ 
LiaHULI □□□□□□ □□□□ □!!□□□ 

□jllju annana uaaa aaEou 
naan uuqe □□□□ Liaaanu 
□oo □□aisu aaaa 
□aaaoDaaaaaaaa □□□□ dee 
□□□□□ uEuuaaa aoiua heed 
□ jljlj □□□□ □□□[jjaa □□□□ 

LITE □□□□ □□□ □ □□'J □□□□□ 

□be □□□□ aaaa □□qgq 
□anan anau atiaa □□□ 
□juju □□□□ □□□ aaaa □□□ 
□□uu □□□□□□□ aaaa □□□□ 
LJJU'J LJUIJU □□□□□UJ □ □□□□ 
330 □□□□ □□aaEau^aaaEDD 
doou uueaa aaa 
□□□□□□ □□□□ □□□a □□□□ 

I0L1QUE □□□!! □□□□□□ aauou 

laaaan □□□□ □□□□□□ □□□□□ 
B3D3E uu00 Liaaaua □□□□□ 

|J3D0O uufl UUUL113 3JULILJ 

— the quintessential tracker, the paramo of self- 
reliance — a man who, for the first time in his long, 
literary career, is not only the target of some tmde- 
frned evil — trying skillfully to kmhim — but who 
also finds himself m the grip erf a most uncharacter- 
istic emotion: fear. Pure mid simple fear. 

Whose toes did be step on in his seemingly 
innocuous search for the yacht; who has so much 
evil power at his or her command, and who has so 
much hate for him? The answer is, no rate. Who is 
leaving cat-shaped pipe deanens at the door of tbe 
Busted Flush, and why? 

So begins McGee’s near-frantic, and dangerous, 
exploration into the international drug traffic 
where, logic tells him. the key to the “why. of this 
vendetta against him must He. And as the ever- 
present specter of death hangs over him — and as an 
old friend lies dying of terminal cancer, alone, in a 
cheerless apartment —another emotion heretofore 
foreign to McGee surfaces: his own, long-sup- 
pressed loneliness and the realizati on that, perhaps, 
he has overplayed the loner’s role 

What greater testament to MacDonald’s crafts- 
manship than this? Thai after 20 novels starring the 
same hero, his protagonist is as fresh as ever, and 
that the groundwork (no plot giveaways, here) has 
been laid for even more adventures of the new 
Travis McGee 

Don Campbell is on the staff of the La Angeles 

Covent Garden, Feeling the Pinch, 
nans Concert Opera Next Season 

The Associated Press 

LONDON — The Royal Opera. Covrem Garden, 
has announced that it will stage 22 operas nett 
season — 7 new productions, mdudingthe British 
premiere of Karihemz Stockhausen’s ^Dannerstag 
aus ‘Licit,’ " and 15 revivals — but it warned that 
threats of new restrictions on its state funding put 
its plans at risk. To cat costs, the Royal Opera will 
stage its first concert performance, RossmTs “Se- 

The company’s chairman, the banker and econo- 

mist Sr Oaus Moser, said the Royal Opera’s budget 
was £800,000 ($1 million) short of “what we Imped 
for ” Ticket prices range from £1 to £37. Sr Claus 
said the opera, which also runs two ballet compa- 
nies, is setting 91 percent of capacity, its best season 
since 1981-1982. 


_ , 

Tto&coh wcTCzom&pvz 

*iax&fOPA\\Am&l j 















W)rid Stock Markets 

Via Agence France-Presse May 17 

(losing prices in local corrodes unless otherwise indic a t e d. 

* They just eat for a livins." 


Bowotar Indus 






Brit Home St 



Brfl TstacDin 



Brff Aerovxics 
















Oxsisr Cons 



Cotnmmrdal U 





















Free 51 Ged 




Gen Aoddsnt 





Glaxo c 

12V. 12 19/64 

Grand Md 

320 330 

2M 305 

696 XX 

347 3M 

835 B45 

Howkar <31 <29 

10 399 759 

Inwartal Group m m 

Stoner Z77 277 

UndSKWfflB 300 300 

Usxrt G«WT0l 695 706 

UovdsBank SU 592 

Lonrho 175 176 

Uk» 297 m 

MorksandSe 139 uo 

M«*ol Bax 384 390 

Midi and Bonk XU 357 

Nat Wmst Bank 674 £79 

PondO 358 355 

Pilklwton 303 303 

P less*? lit 1M 

PnJdeqWQt, 680 693 

RoCoJ El*d 188 1M 

HondfonWn 1109% stlOVs 


Anaio Amarlean 


Bar lows 



De Beers 




I llll~IVULHU 

K loof 
SA Brwrrt 
Si Helena 

w«st Haidma 

C«noasUe Stock! 
wwtaa : MJL 

17900 172J0 

wpp ww 

1450 UTS 
8308 MM 
1975 TWO 
5309 5225 
1780 1790 
3650 3709 
3800 3035 
«B «5 
8300 K32S 
1305 1385 

m as 

3» SK 
455 US 
4000 4040 

Reed inti 

^ £ 

.378 379 

Ravel O irtcn c <m<7 15 /w 
R7Z Wt 411 

SaoUhl 630 425 

Safruburr 344 344 

Soars HaldlnM w 96V, 

5J 1 >13 718 

STC 103 ISO 

SMOnriered 449 C* 

Sun All (once 446 as 

Tale and Lyle <38 443 

Tosco 348 248 

TtnrnEMi 444 444 

T.I. Grew 5 m M 

Trafalsar Mss 34c 357 

l*Q 741 
Ultramar - 233 236 

unUevsri 11 13/3211 31/44 
UnUad BlsaiH* W 173 

Vk*er» 334 3S0 

woolwwtti 813 013 

P.T.30 ladex : MeOA 
Prsviea* : 181U8 

























pea : Tus. veL ini son M. 3UT7 
Source: CASE. 

avaname in tub emuon because or 
computer problems. 

: i.l 



Page 15 


Yanks Make 


1 Manager 
Happy, 1 Sad 

Martin Is 57, 
Rader Is Fired 

- NEW YORK— The New Y otic 
Yankees gave their manage?, BSHy 
Martin, a victory far abirthday 
present Thursday. They also put 
the finishing toadies on Drag 
Rader's carter as manager of - the 
Texas Ranges. 

With the- bases, loaded and one 
oat in -the •muth mnrng at Yankee 
Stadiam, Dave Winfidd, fooled an 
| pitch by Dave Rozema, hit the 
ball too softly for a double play, 
cnahlirgJRidtey Hendocson to race 
home with a 6-5 victory. 

Shortly after the Rangers’ sixth 
consecutive defeat, giving them a 9- 
23 record, worst in the majors, 

Oilers, Flyers Gain F inal of Stanley Cup 

Lot Angeles Tima Service 

CHICAGO — Jari Kurri and 
Wayne Gretzky have pm the Ed- 
monton Oilers into the final round 

of the National Hockey League’s 
voffs for 

Bobby Valentine (left) replaced Dong Rader on Rangers. 



Rader was fixed and 
the New York Mets’s 
coach, Bobby Valentine 
- Rader, 40, was in bis (Mrdseason 
, \v v \ | £ 'M the Rangers’ manager but had 

finder fire almost from the 
start There is some consolation. 
— — — His contract goes through 1987. 

can 1 say?” Rader asked. 
*1 certainly can’t say anythmgorift- 
1 maLIamgbdlhadlheoppanimi- 

ty. Emjustsany I didn’t win.” 

Valentine, who began his c ar eer 
in the Los Angeles Dodgers’s orga- 
nization and played for the Califor- 
nia Angels, becomes, at 35, the 
youngest manager in the majors. 
He will take over Friday 

Chicago, wtoe the Rangers open a 
three-game series. Valentine, after 
first rqectihg the Rangers’s offer, 
agreed to a mree-year contract. 

Friday, the Mete hired Bud Har- 
rdson, their shortstop fix' 13 years, 
to replace Valentine. 

Martini was 57 Ttorsday and the 
Yankees are 10-5 since he replaced 
Yogi Berra as manager. They have 
won four in a row, all in dramatic 
fashion. Three games were won in 
their last ai-bat and the other on a 
grand slam homer in the seventh. 

“One hit short,” Rader said. 
“That’s- typical of what’s been go- 
ing on -through the whole season. 
We.d£da.’L get the hits' in the last 
two games and the Yankees^ luck 
has been good.' r 

Twins 7, Tigers 5 
' In Minneapolis. Tom BrunanSky 
hit a two- run Tiprna run during a 
four-rim first inning and Kirby 
Puckett drove in three runs to hdp 
beat Detroit. 

Ken Schism walked leadoff bat- 
ter Lou Whitaker, then retired 11 
Tigers before giving up Mike La- 
ga’s fourtb-imting single. By that 
time, the Twins led, 5-0. 

Royals 7, Indians 1 
WilKe Wilson and George Brett 
hamered in the first mmng in 
Cleveland and Bod Black patched a 
six-hitter to give Knnan Gty its 
fifth straight victory. 

Stanley Cop playoffs for the sec- 
ond straight season. This time, the 

de fen din g champ ion Oilers win 

meet the Philadelphia Flyers in the 
best-of-seven series beginning 
Tuesday night in Philadelphia. 

- Both teams dosed out the semifir 
nal round in six games with deci- 
sive victories Thursday nighL Rum 
scored four goals, ah on passes 
from Gretzky, to give the CHers an 
8-2 victory over the Chicago Black 
Hawks bathe a vociferous crowd 
that showered the ice with debris. 

The Flyers, playing at home, got 
a goal from Dav^. Poulin when nis 
ream was two players short and 
posted a 3-0 victory over the Que- 
bec Nordiques to end their best-of- 
seven swnifhifll 

The Oilers, trounced in thdr oth- 
er two playoff games in Chicago, 
took charge eany and dominated 
throughout the sixth game. In the 
series, they scored a record 44 

sas Qty’s quick lead just 
doomed tl 

.In Iris last game as ««mnwf 
Rader gambled and lost. He 


walked two baiters intentionally to 
get to Winfield, a dangerous dutch 
bitter even though he is batting 
only .244. . 


-•V > «F4!P 


Soldier Field Now a U.S. Treasure 

t CHICAGO (AP) — Soldier Field, the home of the National Football 
League’sChkago Bears, has been declared a national treasure. 

* Toe 61-year-old lakefrant starirmn, with Us classic Greek architecture 
and artifical-snif ace playing fidd, has been placed in the National 
Register of Historic Places by the Ufi. Interior Department. 

• W&aalssay thede^nationcpnHblodcjdanstobufld a J20 nrinkm 
dome atop Soldier Field, said makes it tmfitefy Oat the Chicago Part 
District, which runs it, will let the Bears oat of a 15-year lease. Thor 
participation would be necessary for a new stadium to be bum. 

O’Meara Takes Lead in U.S. Gulf 

FORT WORTH, Texas (AP)— Mark O’Meara, still recovering from 
jet lag after a victory in Japan last weekend, took advantage of near-ideal 
conditions Thursday for a 4-under-par 66 that pint him in a four-way tie 

about doomed the Indians, who 
have scored three was or fewer in 
20 of 33 games this year. 

Orioles 3, White Sox 1 
Rain ended the game in Chicago 
after six innings, rat Cal Ripken 
and Eddie Murray hh successive 
doubles that inning and Baltimore 
scored twice to cad a four-game 
losing streak. The White Sox had 
won five straight 
Mike Bodmcker allowed only 
four hi tsm boosting his record to 5 
0 against the White Sox. Floyd 
Bannister was the loser even 
though he struck out 10 in 5% in- 

Astros L Metsfl 
In the National League, in Hous- 
ton, Mike Scott made sure his for- 
mer New York teammates lost 
more thm their third base coach, 
Bobby Valentine, bolding the Mets 
to five hits in 8% innings. 

Scott retired 15 in a row between 
the fourth and ninth hmmg y and 

Kerri, who needs only one more 
goal in the championship series to 
equal Reggie Leach’s record of 19, 
also broke a record with his fourth 
hat trick, or three-goal game. Mark 
Messier, the most valuable player 
in the final round Iasi spring, got 
two goals. 

Bitterness had developed be- 
tween the reams, and the Black 
Hawks had vowed to be tough in 
this one. Bui Kurri opened the 
scoring five minutes into the game, 
starting a string of six unanswered 
goals that took the fight out of the 
Hawks. Goahender Grant Fuhr 
blanked them for 47 minutes be- 

sot games, while Gretzky, with 14 
assists, set another. 

In Philadelphia, goahender Pefle 
Lindbergh shut out Quebec and 
rookie Rmk Tocchet scored late in 

Flyers needed. But it was fo-alin's 
seal that broke the spirit of the 

Poulin, playing on a strained 
knee that kept him out of two play- 
off games, sewed with teammates 
Joe Paterson and Brian Propp in 
the penalty box early in the second 

period. He intercepted Mario Mar* 
* side me Quebec blwr- 

ois’s pass inside 
line, skated in on goalie Mario 
Gosselin and beat him on the glove 

Hkka Sinisalo got a rough ride from Quebec’s Pat Price, but Philadelphia won game, 3-0. 

fore A1 Secord ended his shutout. 

It was the fans, said the Oilers' 
coach. Glenn Sather, “who seemed 
to lose their charge in the i 
period. Because when I was* 
it appeared that the fans could not 

really get into it, and at that time 1 
knew the Harries were in for a 

the victory a “vin- 
dication at least in oar minds of the 
bad things that were appearing in 

our hometown papers. We were de- 
scribed as not bang hungry enough 
and letting the Hawks off the 

Several records for a series were 
broken. Kurri bad 12 goals in the 

Poulin said he nwthrr anticipat- 
ed Marois's pass, intended for Pe- 
ter Stastny, nor planned his shot at 
the end of the breakaway, which 
beat Gosselin Ugh on the glove 

“I didn't know he'd pass it." 
Poulin said. “It was just a reaction. 
You rely on your reflexes out there. 
It hit my suck at a perfect angle 
and I got the breakaway, although 
somebody was coming fast. I could 
hear the chop-chop of a skate. 

“It was near the end of a shift 
and I haven’t played much in the 
last five weeks, so I wasn't sure I'd 
get there first. 

“If they had come back and 
scored, it could have been a differ- 
ent game, but that had to shake 
them up." 

The Flyers, who bad the best 
record during the regular season, 
will be making their first appear- 
ance in the final round in five years. 
They last won the cup 10 years ago. 
But they are unbeaten in their last 
eight regular-season games against 
Edmonton, which ought to give 
them a bit of a mental edge. 

ruined a two-hit pitching perfor- 
Sid Fernandez 

u ^. v !L, for the fnstooimd lead of the CokuM National Invitation Tournament 
».tvv V He&ared therop spotwirh Jim Thorpe, Carey Ravin and Wiffic Wood. 

USELFfles Suit Against ABGTV 

NEW YORK (AP) — The United States Football 
million breacbrof-contract smt against ABC . in UJS. 

filed a 57 
net Court 

rcomtte already considering a SL32 bfflion antitrust smt the 
USFL filed last October against the National Football League. 

. CommiaaraerHarry Usbersaidhe has been informed by ABC that the 
network does not intend to make scheduled rights payments of $28 .V™ 
mimandoe(mJimelaiidJolyl,^S1.4imIEandiK prior lo June 29. 

Cincinnati dealt the ExpOS their' 

manoe by the Mels' Sd 
and. Ton Go rman. 

The game's only run came in the 
first inmag. Jose Craz doubled in 
Bill Doran; who had walked. 

Fernandez allowed only two hits 
in sevoi innings, retiring 14 consec- 
utive batters before giving up a 
single in the seventh. He has al- 
lowed only three hits in Ins last 13 


Reds 4, Expos 2 

Tom Foley's triple in Montreal. 



Thursday’s Major League line Scores 

(6),T«fculv» rn and Virol!.- ZJmlth, Dodmon games, 
(j). Suitor (1) aw} Come. W— Dednton, 14. _____ 
L — Andomn, ML 5v— Suitor WJ. 

few rota mm m-* s ■ 

HooMM . . 1N.N0 M*— I 1 T 

Fernando*, Gorman (U and Carter; Scott, 

Smtm (9] and BaBey. W— Scott, 2-1. L — For- 
Aandn. 1-1- Sv— Smith (5). 


4HM«»4ia 1 
• n erong o T. Bofr HI, Schorrar <41. Homon- 
dn (I) and Oatflto; Sctvwn. oovft (?) and 
^oSav w— ScAram, 3-3.L- P oranow, >3. 

fourth straight loss. 

Braves 6, Phafies 3 
In Atlanta, Terry Harper and 
Rick Cerone batted in runs during 
a three*™ seventh that was helped 
by two errors and Philadelphia was 
handed its math loss in its last 10 
(LAT, AP) 

; ! 5 " 

"■ . . • • • . 

Alain Prost (rf France, in a McLaren Tag, raced through 

Simday’s Grand 

Monte Carlo doing qualifying for 
Prfac. Ayrton Senna of Brazil won the pole position. 

Baseball Reports Losing $36 Million 

Owners Supply Last Season’s Figures to Union Negotiators 

The Associated Pita 

NEW YORK — Major league 
baseball dub owners lost at least 
$36 milli on last year, and the total 
could go as high as $42 million, 
according to Lee MacPhafl, their 
chief labor negotiator. 

MacPhail said Thursday that the 
figures, which included data from 
all but two of the 26 teams, had 
been delivered to the Major League 
Players Association, with whom a 
new contract is bong negotiated, 
along with other financial mf carna- 
tion requested by the players. 

The owners, who never before 
had made their clubs ’s figures 
available, have said they were do- 
ing so because the sport is having 
severe economic problems, and 
they have asked the union to be 
aware of that in the contract talks. 

None of the teams was identi- 
fied. and the PRC said it would not 
release a team-by-team breakdown. 

The owners’s negotiators have 
said they wiD make comprehensive 
proposals to the union next week. 

testing program with union leaders 
next week. The New York Tunes 
reported from New York. 

The newspaper quoted one 
source familiar with the drug-test- 
ing proposal as saying that Ueber- 

Negotiations have been conducted rotb asked permission to speak 
sporadically since last fall, though with the onion’s executive board at 

MacPhail, president of the ow- 
ners’* Player Relations Committee, 
said that 18 of the 24 teams report- 
ing had operated at a loss last sea- 
son, “despite the infusion of a $72 
milUon increase in national televi- 
sion network revenues." 

MacPhail also said that the ac- 
counting firm that prepared the re- 
port, Erast ft Whumcy, had “ob- 
served that the financial ability of 
several cZnhs to continue their op- 
eration was uncertain.” 

most of the time has been spent 

riimiRdng the OWIXTS's financial- 


The acting executive director of 
the union, Don Fehr, said later the 
union had not yet processed the 
information. “I haven’t seen the 
figures,” he said, but admitted he 
had questions about the owners's 

Overall, Fehr said, “when you 
see attendance at record levels or 
near-record levels every year, when 
you see television income contin- 
ually setting records" and when 
“you seeplayer salaries continue to 
rise in circumstances in which no 
owner ever is obligated to make an 
offer to a player, you have, to as- 
‘some that reasonable businessmen 
make reasonable judgments" and 
“are paying salaries that they think 
they can get a return on.” 

■ Players Reject Drag Test 

Major league players have reject- 
ed Commissioner Peter Ueber- 
roth's request to discuss his drug- 

its meeting next Thursday in Chi- 
cago but was tinned down. 

■ McLain Denied Bail 

Former star pitcher Denny 
McLain was denied bail after pas- 
sionately pleading for the chance to 
remain free and support his family 
while qipealing his racketeering 
conviction. The Associated Press 
reported from Tampa, Florida. 

“HI do anything you wanL HI 
report every day to a marshal. Yon 
can have one live in the house with 
me," be promised U.S. District 
Judge Elizabeth A Kovachcvich on 
Thursday. *Tve got an awful prob- 

lem with my family. I’ve got to be 
i before it 

able to provide for them 
gets any worse." 

But Kovachcvich, in denying 
bad for the second time in two 
months, said: “After becoming a 
professional athlete, he had deter- 
nrined to be a professional criminal 
and that is what be became. This 
court feels he is a danger to this 
community" and “a threat to flee" 

'■ _>w— OovH (5). HR»— Detroit, Lxwo P), Evan* 
■*X4t. Modi 


NHL Play offe 

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Tour of Spain Became a Bicycle Race a Scotsman Couldn’t Win 


nfder. 24 . HR-CNas* Gamble m. 

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Major League StandingB 

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’ Toronto 20 T2 JOS — 

BcMitma 11 13- 

• * Detroit 1* 13 

•' ■- Hwv York 14 15- 

, > Bolton' •« IS .77 
Milwaukee 13 12 

- ■ Cleveland 12 Si 

* : ! Men DMriN 

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CMcaeo 17 13 

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J- Kansas atir 17 U 

Oakland 14 T7 

Seattle is 12 

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CLEVELAND— CaOed up Beany Ayala, 
oidfleMar. from Mtrido of the ip t emattoaoJ 
LaaBHfc Ptaewt Dave voa OMen, ptMwr, on 
itie IMoT^fbaWed IM. 


tMBM SMMe BaifeettRdl League 
SPRINGFIELO— Stoned Lorry Lawrence, 
forward, aad Sam Worttwn, ovartl' 

»>—«»■ rwimnn imm 
MONXREAL— Btoned Tony Jotm, fuD- 
boefc. to a mu ft i y e ar contrad. . 

By Samuel Abt 

International Herald Tribune 

LIT .UR, France — The Gorbals is the 
slum of Glasgow, among the worst in Eu- 
rope, and il produces hard people. Gorbals 
boys don’t cry or, if they do, they don't 
admit it 

Robert MUtor left the Gorbals ax years 

afbicyde raLr and randy vmsScodand 
now. He is slight and softspoken, bat he 
says the witnesses were wrong and he (fid 
not ary — not even briefly — when a plot 
deprived him of victory in the Tour of 
Spam bicyde race last week. 

“I was disgusted, l was really angry,” he 
said a few days ago- Tm still angry.” He 
didn't seem angry, sitting in his apartment 
in a suburb of the northern French city of 
Lille, waiting for a laggard am before be 
began a four-hour training rim. 

He smil ed often and matted comfort- 
ably. his Scottish burr much tamed by Us 
years away from home. After the outcome 
m Spain, some people still would be 
scream i ng, but Mmar was trader control. 
“It’s & matter of character, isn't itT he 
asked quietly. Or, as they say, don’t get 
mad, get even. 

“Oof," he began when he was asked to 

“I was still going really well," he remem- 
bered in LiDe, “my legs felt strong.” 

need lock to win a big°tour,” 'ie said, 
referring to the three major ones, in Spain, 
Italy and France. “I didn’t have the luck 
this time." More precisely, he had the bad 
luck of running into a cabal of the Spanish 
teams in the race. They derided that, after 
two successive victories by foreigners, it 
was time again for a Spanish rider to win 
the Tour of Spain. 

Millar retold the day’s stage, starting, he 
said, “from when it was important.” With 
about 60 kilometers (37 rmles)-to go and 
Millar riding with the leaders, he punc- 
tured a tire and lost time chang in g wheels 
before two teammates relayed him np a 
efimb and toward the front Exhausted, his 
teammates dropped back and, in a scene 





of yards 

lead. Millar, 
was unaware of 

“You often get collusion between was really flying or riding the motorbikes’ 

ame ** XJill'ir Mi/1 nn rm el ni rllairt ■■■■■■■■ Tkm’a mAva# ■• <v n till* — 

“Delgado was already two minutes in 
front but I didn’t know that,” he said. “I 
could still see Kelly and 1 wasn't worried 
because they were only two minutes away." 
Nor, he admitted, would he have warned 
about Delgado. “I didn't really know herw 
far behind me Delgado was because I kept 
beating him every day and I though the was 
out of the race." 

Forty kilometers from the finish, the 
Peugeot team car alerted Millar to the 
breakaway. Delgado, by then, was five 
minutes ahead of Millar and just over a 
wwnnte from the overall lead. The Scots- 
man did what bicyde racers do in this 

teams,” Millar said. "That’s normal in pro- 
fessional raring because two teams get to- 
gether because one is gang to win the 
sprint and the other is going to win the 
race, bur you don’t get the whole pack 
riding against one man. " 

slipstream. That's what it's like in Spain 
when you're Spanish and behind a motor- 

A large crowd waited out the 6 minutes 
13 seconds jby which Deteado had trailed, 
then burst into cheers. Ihiny-six seconds 

He was caught in a dassic bicycling later, Millar crossed the fine, now second in 
bind: “I didn’t warn to ride alone after overa11 dapsed time in the Vuelta. 
Delgado because Rodriguez could jump “It seemed to me the whole race had 
me near the finish and maw up his 10 w^ted me to lose," he said. “I got the 
seconds. I was giving 99 percent effort bui I impression that tte crowds were more hos- 

stiD had to keep a bit to watch for Rodri- 
guez jumping away. Rodriguez attacked 
me six times on the last climb but he 
couldn’t drop me. About three kilometers 

tile than usual. When you’re up on the 
podium they boo and whistle. They throw 

things at you during the stage. It doesn’t 
arise II 

from the finish Rodriguez said to me he 
situation: He called on the others in his wasn’t going to attack hit I didn’t trust any 
group to mount a chase. of them any more. 

get to you because 
win the race then." 

knew I was going to 

Afterward, when he knew he was not 
going to win, Millar ignored the crowds 

*You often get collusion 
between teams. That’s 

Mi — 

m m 

JUS 2 • 
•331 an 
MS -i 
JOS 5 
■28T TOM 

normal in professional 

talk about tbflx^week Tour of Spain, racing,’ said Robert Millar, 

the Vbdta. Nfillar, wbo rides for the fta- „ , . , . 

CLEVELAND-Stonod ProdDttartfatjuor- 
twBocfc. to a irM-aomt eoafraeL 
DENVER— Announced th* raH ra mutf of 
Baa Swanson, faeDockxr. 
iNDiANAPOua^TradMt victor oans, gp<y tparr i of France, had been leading the 

wide fieo tv tf.laMoClo v o Iona Browns loro ■ • ... — - j;. j — ». 

tot** M W Ueniwl draft cftdc*. 

N*w York . 















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21 ‘ 


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wait DIWIH 

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Sen Franetsco 

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NEW ENGLAND— Stoned Jew AanHMit and 
RonoW Hqtoby .defensive toockj. Robtrt Awe. 
attaslM Hwnn "Pat- Breaflan, Ruartw- 
boek. Mkfmi LeOanc running bode, and 
wmto Miie m t , nose mcMl 
WA*HWCTO»-« go*d v«rm Doan and 
tOdv BmWii wneriMcfcs. and Marts 

To*m.«ffn«ln tockto. (teadwt contract 
that amb oamtt, wide racitMr. will rut 
return la Mm fbtiLWQlvtd Ride Kane, runnlno 

. IMHeASMee^eattMU LiagM hv 0nC 
HOUSTOIMwed Frank' CarroL klehr. ^ 

race for a week as it neared its end. He took 
the lead in the mountains, where he excels: 
he won the polka-dot jersey of -the best 
efimber in the last Tour de Fiance and he 
has won that tour’s stage in the Pyrenees 
the last two years. 

Oa the oext-to-last day of the Vndta, 
Millar was ahead in overall elapsed time, 
10 seconds ovw Pacho Rodriguez, a 
with the Spaniel Zor team, md 

’bnt yon don’t get the 
whole pack riding against 

one man. 

and the children who danced tauntingly 


around him. “I still had the jersey for 
wouldn't go up to 

out of a alcnt movie, lost contact with “1 talked to them and asked them to ride. “I was in a group that was 15 riders and 

first foreign rider but I 
the podium," he said. Instead, begot in his 
team car, I’Equipc reported, and through 
the window could be seen with his head m 
his hands, red around the eyes. Sitting in 
his apartment in Lille, Millar did not dis- 
cuss this. All he said was. “I reckon they 
destroyed thrir own race." 

The last day was a formality, with Millar 
finishing that stage in the same time as 
Delgado, Rodriguez and Rtnz-Cabastany. 
Overall, he was 36 seconds behind Delga- 
do's 95 hours 58 minutes. Rodriguez was 
third, 46 seconds back. 

He gave no thought to quitting die last 
day, Millar said. “It wouldn’t have been 
tight for the others on the ua m. They 
worked so hard and wc had pride in wbat 
we did. 

“All 3 fdi was sad. The guys to the pack, 
they yted sympathetic but 1 felt they were 




uian with the Spanish Zoneam, and Millar for the day when they later got to a But they wouldn’t The Tekas wouldn’t none of them was working, not even in the laughing behind my back, 
mrnute 15 seconds OTa jPefloRniz- railroad crossing and found it dosed be- ride, Rodriguez wouldn't ride. I told Rodri- sprint They all hdd back and sat behind Would he ride in another Tour of Snamt 

Irnd tl« laden. Ihe guy, io to! bmlt «s mnch Td^backSspain.surc ' ■ 

BUFFALO— Stonod,. Doran Puma, gaol- 



Italian Open 


. Q— rtoflaiito .. 

Mon Wltanoer. Swadm, *L Henrik Sunil- 
Krwn.‘ SModco. SS; 4-2,' Ymldc Noohr 
Frtmc^d*<JaHMJrtsaarc,Ara*nt1na^4-t,7 r 
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atim'ln Cam* FtwaTSw VWto* Gaatonta 

N.Y. ISLANDERS— PramolM A4lt»T Ad- 
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Winnipeg— siobiHJ jam Ftraumn. acn- 
wai gwnada r, id a' O ad y aar cooiroct. 

■ -T -'-COLUHSE ' 

Tam FawarAdlrMiar Mofndflta tar woman* 


NEBRASKA— NaBy wonioL astMWI 

a slmtter.*MW«i M.Ta»n u«n ,. 

. WESTjiRW XfA TU Nd mMWRaaws 
toattaaA coadi aad Thty GUAWB baai att nU 

Orbea team. Nobody else was dose, with 
fourth-place Julian Gorospe, a Spaniard 
with his country’s Reynolds team, 5 min- 
utes 13secoodsbebiiidMniar.“IthmkFvc 
won it, I think m be in the yellow jersey 
Sunday even if i ft only by one second,* 
Millar announced happily the Friday night 
before the finish. 

In professional bicyde faring, a 10-seo- 
ond lead can be nothing in the mgh moun- 
tains, .where time is eftm lost by quarters 
of an hour. But it can be insurmountable in 

flatter country, where a leader has only to 
just bdhmd Ms closest rival This, was 


no problem- for Millar, who had hdd off . 
Rodriguez and Rtdz-Cabastany for days. 

The Scotsman was isolated bnt not wor- it was better than third place. But nobody tiraeas possil 
tied. “I caught Rodriguez and Cal^imry would ride. They preferred to see me lose 
on dm descent," he said. “It was snowing and a Spaniard win." 

heavily oa the top but halfway down h The Spanish riders were under instrnc* but Sean Kelly 
became dry, we were in sunlight again, and tions from their teams to hold back, an three minnies ahead and out of touch, 
we were taking off our capes svhen the 
trailing group. Sean Kelly's group, caught 
us and passed us." . ... 

In that group was Pedro Delgado, a gado’s team lata - publicly thanked “all the land Luis Ocaha. 

Spaniard and Ruk-Cabastan/s teammate other team directors for thrir hdp.” The Finally, Delgado arrived at the finish, 
with Orbea. Ddgado was sixth overall, 6 agreement surprised nobody fanrihar with his hometown of Segovia, granting the 
minutes 13 seconds behind- After they the t em por ar y affiances teams often make, stage victory to Redo, (“Kelly said he had 
passed Millar, both Ddgado and Josfr Re- either for tactical advantage or for money, three teammates riding with him, riding as 
do, a Spaniard with Ms € 00007*5 Kdme What did surprise observers was Peugeot’s bard as they could the last 30 kilometers, 

Spain, sure, with a stronger 
team, with more climbers.” 

Would he cooperate in future races with 
the riders wbo refused to cooperate with 
him? “If it was in my own interests, Pd do 
it. If it was in their interests, I wouldn’t. I 
won’t do them any favors.” 

Did- he hold a grudge against Ddgado? 
“There’s no honor in some guy winning 
because everybody wanted him to win. 
~ " ado must know himsdf that he wasn’t 

enough to win. But no, I don’t blame 

. I blame the 15 riders who were 
with me." 

team who did not rank in the first 30 
overall, broke away from the KcQy group 

lack of foresight is not en 
tire non-Spanish tenms the 

allies from 
t before. 

but they still lost a minute and a half on 
Ddgado," Millar said. “I don’t know if he 

How crakl he remain angry at so many 
people? “Easily.” J 



Page 16 



Phone Call-Back Floys Tlle Torturer’s Mind: A Complex View Emerges 


YX7 ASHINGTON — Oneof the 
▼ ▼ charges made against White 
House aidePat Buchanan is that he 
basiLt been returning people’s 

Bwhanan isn’t the only one. The 
telephone is the main form of com- 
nrani c a ti o n in Washington (except 
[or sending a messa ge to Moscow 
by putting a trade embargo on Nic- 
aragua). and me- 
dia people are 
particularly sen- 
sitive as to when 
(and if) their 
calls will be ac- 

The no-return 
call in the Unit- 
ed States’s capi- 
tal is the crudest 
call of all 
This is how Bndnreld 
the system works. You place the 
can, but yon have no illusions that 
you’ll get through to your quarry 
tb e first time around. Government 
officials worry that if they are that 
easily available youU ass um e they 
don’t have enough to do. So secre- 
taries are trained to automatically 
inform the caller that the boss is “in 

What constitutes a conference in 
Washington has never been de- 
fined. It could be a gathering of 
twenty people or just two. It could 
be taking place in the office or on 
another floor — and for really top- 
flight executives, it could be hdd 
“up on the H2L" 

You know you're talking to pow- 
er when a secretary informs the 
caller that her boss is “out of town 
traveling with the president.” 


Those of us who have been 
around for a while deal with brush- 
offs in different ways. I have a 
friend, Barry Sussman, who, when 
informed that the person he is tde- 

Camegie Hall Fund Drive 

New York Timet Service 

NEW YORK — Carnegie Hall 
has ann ounced a fund-raising drive 
far $50 million — $27 milli on of 
which has already been pledged — 
to complete the hall's renovation, 
which will involve dosing the main 
hall and the smaller Carnegie Re- 
dial Hall for seven months starting 
May 19, 1986. 





Notice of tfie annual gunerd meet- 
ing of shareholder! ofMLH Realty 
Investment* N.V. (the Company - ) n 
hereby given. The meeting b to taka 
pboe t * 1000 am. on Wedvnday. 
May 29, 1985 at the rendered office 
of the Compmy, 6 John a Gor- 
eiqwft Curacao, Netherl an ds And- 
ies. The agenda of the meeting is set 
forth below. 


Amwal Meeting of Shoretokfcn of 
MUi Beaky Investments MV. 

I. Report by the board of 

diedonon the 

phoning is in conference, always 
asks the secretary. “Who with?" 

When the secretary says she 
doesn't understand. Sussman tells 
her, “They are probably discussing 
what Fm writing about You better 
break it up and tell Michelle Wil- 
son I'm on deadline and I would 
prefer to get her side of it before 1 
go to press." 

Bruce Henderson, on the other 
hand, never makes the call himself. 
He has the pool secretary do it 
because he has a horrible fear that 
the person oq the other end of the 
line will mak e him spell his name. 

One person I work with likes to 
keep uack of how his personal 
stock is doing in Washington. So 
every once in a while Joe Gradisher 
nalk someone in the administra- 
tion. When he is given the standard 
“conference" alibi. Gradisher 
leaves his name and phone number 
with the secretary. 

Then Joe sets the dock with the 
hours, days and months on his desk 
and proceeds to time how long it 
takes for the official to get back to 

If the call is returned, Joe will 
just say he was testing the system. 
If it isn’t returned he will put out 
the word that the appointee is not 
long for this world. 


More and more administration 
officials and bureaucrats are refus- 
ing media Balk on the assumption 
that if they don’t talk to the press 
they can't be misquoted. While this 
is not a bad strategy it does have its 
drawbacks. It leaves the journalist 
free to write whatever be pleases, 
adding this line to cover himself. 
“Godzilla did not answer this writ- 
er’s calls." 

Which brings me back to Pat 
Buchanan, whom I can write about 
objectively since I've never called 
him and therefore hold no grudge 
because he failed to call me back. 

It has been said that Buchanan is 
second to Don Regan in influence 
in the White House. He is also the 
president’s communications direc- 
tor. If you phone Pat and he 
doesn't respond within a reason- 
able period of time, it can be a 
terrible blow to your reputation. 

In fairness to Buchanan, he is 
quite busy just feeding the journal- 
ists who support the administration 
line, and should not be faulted for 
putting so many unfriendly report- 
ers on hold. 


By Daniel Golem an 

New York Times Service 

N EW YORK — In the realm 
of human evil the figure of 
ibe torturer whose acts of brutal- 
ity are carried out in the service of 
the state is a special puzzle. 

The stereotype is that the tor- 
turer — a brutal police interroga- 
tor, for example — is driven by a 
warped sadism. But more com- 
monly, some psychologists say. 
torturers are not 'sadists so much 
as otherwise normal people who 
under certain circumstances sink 
into a routine of in tima te horror 
in which they hurt or mutilate 
another human being while stay- 
ing aloof from the screams and 
agony of their victims. 

Some answers are being 
brought forth by behavioral sci- 
entists. The explanations pertain 
more to the torturer who makes 
brutality a part of daily routine 
than to. say, the officer who in a 
fit of rage becomes brutal to a 

To be sure, some torturers may 
be out of touch with reality; that 
is, psychotic. But despite the ste- 
reotype of the torturer as a twist- 
ed sadist, studies of torturers have 
found that most are not sadists in 
the psychological sense; that is, 
they are not people who derive 
sexual excitement from the inflic- 
tion of cruelty. 

Experts say the conditions that 
can lead someone to become a 
torturer include a fervently held 
ideology that attributes great evil 
to some other group ana defines 
the believer as a guardian of the 
social good; an attitude of un- 
questioning obedience to author- 
ity; and the open or tacit support 
of the torturer by his peers. More 
immediately the torturer seems to 
cope with ms cruelly by means of 
a psychological split m his per- 

“I’m struck by the capacity for 
people to divide themselves into 
separate people, one a torturer, 
the other an ordinary family 
man," said Robert Jay Lifton, a 
psychiatrist at John Jay College 
of the City University of New 
York. Lifton has studied 28 Ger- 
man physicians who helped the 
Nazis in their medical programs. 
Although, strictly speaking, these 
people were not torturers, they 

did inflict great suffering and Lif- 
ioq feds that their mental adjust- 
ments 10 an inhu man situation 
speak to the nature of the outright 
torturer as well. 

Some of the physicians he in- 
terviewed had worked at death 
camps where the killing was su- 
pervised from beginning to end 
by the medical staff, while others 
had been involved in such Nazi 
programs as the killing of mental 

According to “Torture in the 
Eighties," an Amnesty Interna- 
tional report, torture may be pan 
of routine military and police op- 
erations in as many as 90 coun- 
tries. While it is usually focused 
on political suspects, in many 
countries it is used against ordi- 
nary criminals and prisoners. 

One of the few detailed studies 
of torturers was of 25 Greek men 
who bad been members of the 
military police during the rule of 
the junta that ended in 1974. That 
study shows the crucial role that 
obedience plays. These men were 
selected in their first few months 
of military' training for their “to- 
tal obedience to me authorities, 
even when an order seemed illogi- 
cal" according to a report of the 
study released by Amnesty Inter- 
national. The study was acne by 
MBca Haritos-Fatouros, a Greek 
psychology professor. 

Still the making of a torturer 
who builds his daily routine 
around cruelty requires more 
than obedience. According to Lif- 
ton, torturers seem to cope with 
the brutish emotional facts of 
their deeds through a mental ma- 
neuver that he calls “doubling," 
in which they form a son of alter- 
nate self that goes about the busi- 
ness of torture. 

“Doubling is a key to doing 
evil" Lifton said. In his view, it 
“explains how people can get in- 
volved in acts so out of keeping 
with the rest of their lives." 

In doubling, a person develops 
a full repertory of feelings and 
habits that are quite specific to his 
evil role, and he is able to revert to 
his ordinary self while away from 
work, Lifton said. 

“The average doctor coining to 
work in a death camp was at first 
overwhelmed by what he saw," 
Lifton said. “His ordinary self — 
a physician, a loving husband and 
father — could not adapt. He 

could function there only by de- 
veloping a second self, one which 
was free of those conflicts over 

whai he did there and how it was 
at odds with his professional 
identity and values. 

“And once they began to do 
these things," Lifton added, “the 
doubling would stabilize, becom- 
ing more complete as they became 
immersed in it day to day." 

Perhaps the most comprehen- 
sive theory of what psychological- 
ly disposes people to become tor- 
turers was proposed in a recent 
issue of Political Psychology by 
Ervin Staub, a psychologist ar the 
University of Massachusetts. 

The fundamen cai psychological 
underpin of the torturer, accord- 
ing to Staub, is in dividing the 
world into “us" and “them.* 

The Greek torturers, for exam- 
ple, became a closely knit clique 
with a special language for the 
devices and techniques of torture. 
They had nicknames used only 
among themselves, and spoke of 
those not in their group as being 
of “a different world." 

A related line of thinking is 
scapegoating. “Devalning and 
scapegoating members of another 
group." Staub writes, “allows 
people to feel more important, 
more worthwhile. Poor southern 
whites who themselves led impov- 
erished. humiliating lives could 
elevate their self-esteem by a feel- 
ing of superiority over blacks; 
Germans could do the same by 
their feeling of superiority over 

Ironically, Staub noted, the 
cruelty done to victims is also 
promoted by the psychological 
need to believe the world is just. 
One consequence of this belief, 
social psychologists have found, 
is that people see the victims as 
having brought their plight on 
themselves, as deserving what has 
happened to them. Such thinking 
allows the torturer to see his vic- 
tim’s suffering as itself justifying 
further mistreatment, according 
to Staub. 

These thought processes are 
common and rarely lead to bru- 
tality, Staub said. They are, how- 
ever, the mental preconditions for 
mistreating another person, the 
fertile soil of the psyche in which 
the seeds that create a torturer 
can sprout 

Ancient engraving of a 
prisoner unctevgoing the 
“Spanish boot” torture. 

One of the dements that begins 
to set the torturer apart is a Fer- 
vently held set of beliefs that jus- 
tify his cruelty. Typically, this is a 
view that defines the torturer’s 
victims as an evil group who pose 
a tangible threat to the social or- 
der. The Greek torturers, for ex- 
ample, were chosen because they 
were fervent anti-Communists 
who saw leftists as enemies erf 

The Nazi doctors, Lifton said, 
“saw themselves as coring a sick 
Aryan race of a racial infection. 
They had a medical ideology that, 
in i Heir eyes, made sense of. their 
cruelty in the name of biology.” 

Cruelty often begins in small 
steps, Staub noted. A limited par- 
ticipation paves the way. In the 
training of the Greek torturers, 
the recruits were gradually intro- 
duced to their role. “First,” the 
Amnesty International report 
said, “they stood guard outside 
the interrogation and torture 
cells. The next step was to stand 
guard in the detention rooms, 
where they witnessed torture of 
prisoner and helped beat them 
up." If one performed these du- 
ties satisfactorily, “he was sud- 
denly actively involved.” 

The research on torturers, some 
experts say, suggests lessons that 

can lead to preventing its occur- 
rence in groups, such as the po- 
lice, whose occupations make 
them susceptible to il 

The environment that enables 
the torturer to do his job is one of 

outright or tacit approval or at 
least sQence. In the absence of 
voices that raise questions or im- 
plant doubt, Staub observes, a 
torturer can operate with the 
sense that those around him ap- 
prove. Voices of protest can thns 
be one means to break d own the 
atmosphere that breeds torture. 

One of the most powerful anti- 
dotes, according to some experts, 
is to break through the chasm that 
separates the torturer from the 
humanity of his victims; “The 
Breaking of Minds and Bodies," 
an anthology to be published this 
.summer by W. H. Freeman, in- 
cludes a confession by a former 
Uruguayan army officer who was 
a torturer for several years in the 
1970s. One day he was given the 
order to torture a man whom he 
recognized as his friend since 
childhood. The officer refused, 
and was arrested and court mar- 
tialed. He has left Uruguay and 
given a full account of his partici- 
pation, and describes himself as 
“totally repentant.” 

■ U. S. Center Planned 

Governor Rudy Perpich of 
Minnesota has announced the 
formation of a nonprofit corpora- 
tion to build the united States's 
first center to treat victims erf tor- 
ture from around the world. Per- . 
pich said he would lead fund- 
raising efforts (or tie center. 

A task farce that Perpich ap- 
pointed in January recommended 
that the center be established bc- 
cause “there is no such center in 

thw I Init cd TK* 1 i g lit g - 

ly to be one in the near future." 

“Our feding is that the number 
of people neemng this service is so 
enormous that other states mil 
see the need," said Robert Stein, 
dean of the University erf Minne- 
sota Law School ana a co-chair- 
man of (he taskforce. 

The tortme center should be 
located in die Mmne&polis-SL 
Paul metropolitan area, the. task 
force recommended in its report. 
There are torture centers in To- 
ronto and Copenhagen. 


KbrkpcttrkkSaidto Sign 

§900,000 Book Contract 
Jeane Kirkpatrick, the former 
U S representative to the United 
NatioSbas signed abook eon- 
uact with Simon & Schuster for 

oy sources. They said the book was 
scheduled for publications N<v. 
vember 1986. Some sources ^ 
the book would concentrate ooror 
Bi gti policy issues, but one stud it 
wmild^deuul Jeane s personal life 
in politics and her experiences ar 
the UR” 


USA for Africa has picked up a 
check for S6.5 milfion, 

ceeds from sales of the ^VeAre the 

World" superstar single. The orga- 
nization pledged to spend the mon- 
ey on long-term solutions to starva- 
tion. The check, representing 
proceeds from March alone on 
U. & sales of the song, brings f “ 
S10.8 million the money collect^ 
tw the group from records andom- 
er merchandise to help feed the 
hungry in Africa and the United 
States, said Ken Kragen, USA for 
Africa, organizer. He said a dozen 
USA for Africa officials, including 
Harry Betafonte and Kenny Rog- 
ers, would visit Africa for two 
weeks, starting June 10, to seat 
solutions to feeding the hungry. 
Their plane will carry medical sup- 
plies, rood and other goods. 


Ba Jin, 82, one of China's bes* ‘ 
known writers, has been named -an 
honorary member of the American 
Academy and Institute of Arts and 
Letters, the Xmhna news agency 
Iras reported. Ba, primarily known 
for a trilogy describing the coflapsfc 
of a wealthy feudal family during 
the 1930s. has recently appealed for 
greater artistic freedom in China." 

□ .. > 

The Australian government has 
honored Join Utzon, the Danish 
architect of the Sydney Opera 
House, 19 years after he {railed out 
of the project. Utzon won an inters 

L. in cn lit. 

fore leaving Sydney in 1966 after a 
faUmgrOut with the New South 
Wales g o v ernm ent over funding. 
The braiding was opened seven 
years later. The federal govemm&Bt 
g«iri Utzon had been mane an Hon- 
orary Companio n, of the Order af 
Australia for achievement in anjti- 
lecture. -* 


PARIS Docbordac Inttmation ol 

(01) 343 23 64 


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[089) 142244 

irvjnnu a— ra w 

UJWWUN Infl Moving 

(01) 953 3*36 

BRUSSELS: zhrfor sa. 

(02) 425 66 14 

USA AKodVtmUnmlnnCarp 
(0101) 312-681-8100 



dated Febnnry 22, 1985. 

5. B ntif i trt i o n of interim dhndendi 
pad on December 29. 1983 
ad June 29, 198*. 

6- Further c^propiabon of the net 




man floor My restored m the heart 
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& Palazzo Vecdiio. 12 roams about 
375 jqjn. + unique large terrace. 
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In 4 m bay of Patna. 5 rani Palma, 15 
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Top iiweshnentil 45% sold! 

Hurry now before next price-roel 
Contact dreed/ developers- 


Director Comerrid 
C/Marina 101 Portals Nous 
MaBorca, Spain 
or Tlx 68686 CALPJ E. 

In the chortling moulhin resort d 



Overlooking a spiendd Alpine panora- 
ma. 30 ran, from Montreir* and Late 
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Int'l Homing Senrke-Ranfah 
Amteerdmn. TeL 020-768022. 



Are you planning to visit Florence? 
Why nor stay outside the dry in anoent, 
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K den. Ertioofdmary panorama. 

nn mad. linen, a# sendees includ- 
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ReiManc* tafrarMS. 1854 Lanin 

Tel: (025) 34 1 1 55 Th. 456 1 20 RLAI CH 


Lovely apartments with mognfwsnt 
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Contact direct., developers 


Craacr Come’tJd 
CMorinG 101 Portdi Sou; 






• Small Is Beautiful: 
America's Hot Growth 

• China: Beijing Is 
Cooling Its Import Fever 

• Italy: Investors Cheer 
Craw’s Victory 

• Britain's Labor Party 
Edges Right 


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rati moving by sppwfe.frgm t**sr 
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TEXAS Real Estate Investment*. Com 
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IX 75258 USA. Tel: (817) 336-3853: 
ifar 79-4839. 


YEfl Invest in ore cr A -erica * msst 
Bxotmg tedviolog^a L’Kvniaigh* in 
a bAon dollar '/•* have plant- 

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t-flgh annual earning* assured for 
messy, many year* and, we guaran- 
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Material c<alcb« in crgSih F*erch. 
German. Ba» !i*3. rterdd Triune, 
92S2T MeuHy Ceder. Frsrse 

Warrant', certificate for cnl * US 

— tarev Piero* write *0: cor 

IH.T,. Fnedneha-. 15. 

riXlij FrofU(fi.r: ‘Man 


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A completely reno'/cted HOTEL with a 
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RESTAURANT for 20 guesh 
For info, Oafl Anay 3j5-664-716) USA 
or wine io- Mr. UQ 3e-,er, F.-anLen- 
«r«se 205, B700 Wursberj.