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The Global -Newspaper 

Edited ~in Pazis : - 

Printed Simultaneously 
. in Paris, London, Zurich,. 

X Hong Kong, Sizmipore, r 
P. . The Hague and Marseille 



INTERNATIONAL 




iC ' ^ ' »n ilUH u ■ ’ WEAWa DATA AFFEAJt ON MGE18 

31^03 

Si,... . 


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II. Ml 


Published With The New York Times and The Washington Post 

~ 7 * PARIS, WEDNESDAY, MAY 22, 1985 


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f £ If 5|lJ.S. GNP Grew at 0.7% Rate 
t £ First Quarter; Prices Rose 

*' j w ‘ Sl irP'-J ■ 1 By John M. Bexry. Mr. Ortnernoted that consumer Mr. Ortner stressed that 

. :! \ s • lyash^ton PotrSerwier spending xose at a strong 5.2-per- was no reason to expect ax 

'Mnw s WASHINGTON — Tbe U.S. c«vi rate in the first quarter after quarter that would be so ha 

«Vi i~- K «ii. rij “ f yt ^conoany, battered by a flood of adjustment for inflation.- In adtfi- % a smge in imports. 

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By John M. Bcn yi Mr. Ortnemoted that consumer Mr. Ortner stressed that there 

■ wasLrgtoa Pan Service spending rose at a strong 5.2-per- was no reason to expect another 

WASHINGTON — The UiL ' Ceat n» in U» first qrarter after quarto- that would be so hard hit 
onorny, battazd by a flood of ^'nstment fix- inflation.- bt adtfi- by a strrge in imports. 


Imports shot up aia 31.4-percent 

rate in the first quarter while ex- 
ports feflai a 6.1-percent rate. That 


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tomum 

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■ ■ii i ;>j * -jjj"' W S? "1^:7 cent hacrease in the gross . Businesses also appear to have 

u: , ^ 'cn^-wodua, which m ea s ur e s the ha- made most if not an of the neces- 

,: v total output of goods and. sa^Adtomoit of their jmmniory 

» ' ‘.'SKpe* services, r ep r e sen ted goods that jevas.to the slowa rate rf increase 

V.:r. !> 111 5 m^wcot into buaness inventories. Ao- in ddnand, hesaid. 

uial final sales of goods and 'ser- — *— — : : — “ — ■ — 

n Vices to consnmeis,lnismesses and ‘ __ ■ _ _ 


t. •• "ugv mu • uj vudiuraow 

to nave from reducing their in van ones to 

enaxs- adding to them modestly. 

Much erf the trade problem is 
(Confirmed on Page 2, CoL 7) - 


' ' bj percent, the dqtartment «id- " 3 Israeli Soldiers Return 

• ^ It t The sluggish output in the first 


. irr ' -aiJ ^ quarter came against a backdrop of 

• -7; '". A ' : ‘ ^i. rismg prkes, tfcgovemnaart said. 
‘7 ; '’7” Tra -Commerce Dqrartment re- 

1- ‘fut-rco i„ ^-ported that Enflatibn as measured 
l .,' r 7_7 ’ 1,1 J.vft "kby a c om p one nt of the GNP was 
w for the first quarter 

■*.' WiWr- ihp T ahnr TVnsrrtmmf co«f- 


quarter came against a backdrop of A ’ • T-' 'A ■ /~k fWl T 

AmM Anger Over Trade 


Compiled bp Ovr Staff From Dtpadia tha t crippled two West R»nV may- 

. . JERUSALEM — Three Israeli ors in 1980 and that lolled three 

i r LaborDqnrtzneBt sari pnsaterstrf war came home Toes- students at a university in Hebron 

".7 "f, .,; >u vhc^.^paratdy that retafl prices as mear : day amid Inttemcss over the rdease in 1983. In addirion, there were 
v f_' by the Consumer Price Index of 1, 250 Arab prisoners and rightist charges iha/ some settlers had pJot- 

jutst;. Vn*r f^rose in ApriL demands that i group erf Jewish ted to explode bombs on Temple 


- Vnl7 l^^rc 

:vr : ; . 

I a:i* UNatih' 


_ The first-quarter GNP figure, re- settlers being tried for anti-Arab Mount in Jemsalon. one of the 
vised downward from last month’s terrorism also' be freed. holy sites of Islam, ami bad planted 

- — — - ~ — The three Israelis were returned bombs on five Arab buses m April 

tie dollar rose sharply follow- M ^ ngrcemoit under 1984. Tbe bombs were found be- 


:w Mvihoh. rpTj 1 * 

ti-Hx u„ \7, ‘Th® doBar rose sharply follow- 
er 

before easing lower. Page 1L 


as part of an agreement under 1984. The bombs were found 
which Israel freed Lebanese prison' fore they could explode, 
era and persons convicted of carry-- Eight of the settlers have been 
mg out attacks a gains t Israel. The sentenced, me to 10 years in pris- 



U.S. Aides See 
Little Chance of 
Gorbachev Visit 


By Don Obcrdorfer 

Washington Pan Scmr 

WASHINGTON — Mikhail S. 
Gorbachev, the Soviet leader, is un- 
likely to come to the United Na- 
tions next fall, removing the occa- 
sion for an easily arranged meeting 
with President Ronald Reagan this 


•rdorfer part from Soviet diplomats, had 
r Scmr been that Mr. Gorbachev was like- 

- Mikhail S. >y 10 pw New VorL Bul the 
t l eader is un- added, no formal word has 

e United Na- been received from Moscow, 
ring the occa- h) his May 10 news conference, 
urged meeting hu - R^gan lied an early meeting 
d Reagan this ^ r - Gorbachev closely to the 


wnn ^resident Ronald Reagan this w ™ 

vear, according to informed appearance. Mr. Reagan said 
Vnitrce* be had extended on invitation to 


sources. 

A White House official said that 


Mr. Gorbachev that, “if he was 


“signals" that Mr. Gorbachev does SDing lo be here, the door was open 
not intend to travel to tbe United for a [rH^eung b c rv^xCTl us. ,, 
Nations soon were received in Vi- He added tha: “the ball is in his 
enna last week when Secretary of court, first, to decide whether he s 
State George P. Shultz met with the conung here. And then, second, as 
Soviet foreign minister. Andrei A. » P »» such a mcet- 
Groravko. in S »f be is wilbng." 

Other sources made no reference „ Following the six-hour Shultz- 


Groravko. in S ‘f be is willing." 

Other sources made no reference following the six-hour Shuliz- 
Monday to the Shula-Gromyko Gromyko meeting in Vienna last 
meeting but said they understood Tuesday, however. White House 
that a visit to New York by Mr. officials began to separate the 
Gorbachev was not expected now. question of a Reagan -Gorbachev 
[“The situation not changed raceting from that of a Gorbachev 


substantially." the White House writ to the United Nations. 


spokesman. Larry Speak es, said- 
Tuesday, United Press Inteniation- 
al reported from Washington. 
[“The president has invited Gor- 


Defense Secretary Caspar W. 
Weinberger said in a television in- 
terview Sunday that “it may well be 
that the Soviets are backing off a 


>vnftA.“ prehminaryestimateof 1 3 percent, agreement took three years to cm. The trial erf the remaining 17 A weeping Palestinian woman walks past A body covered with cardboard in the Qtarila camp. 
15 ihe lowest rate of U^L economic ‘ has been completed in Jerusalon, 


[“The president has invited Gor- that the soviets are backing oil a 
bachev to a meeting." Mr. Speak es bit" from an early Reagan-Gorba- 
continufid. “Gorbachev has agreed cbev meeting. 


' - v 15 “c lowest rate of US. econcomc twK ; has been completed in Jerusalon, 

"" •' pto.^ipowth since the recessiaa winter of Foreign Minister Yitzhak Sha- but no verdict has been given. 

•!.*.• 0 mtM(k!I981“1982. All of the nrtmbers are nrir. Trade K&rister Arid Sharon Hundreds of Jewish settlers do- 

■' r k-,.'.- , ij-j ^a^usted for inflation and seasonal .{fie Jewish ayliTx themselves manded the suspects' rdease Tues- 
\ *;.-i -7,~y ari a t iops. _ voiced distress at the trade and dc- day in a demonstration ip front of 

. .77 The small increase in real GNP mamW iiiirt thuwniw n on trial be the Knesset bmlding in Jerusalem. 
• r. . r A® qu arter ioBowed gains -set free. In addition, Mr. Siaron said it 


in Jerusalem. 
Siaron said it 


i-lsii -:. ■ v..*-. 4 -^ percent in_thefoorthqMrter mutfl chaVf. t he corii- was inconceivable that kiners had 

*r : - ^ ; c r. -7^ '3; ^ and l.6 percent in the third. govamnent cf Prime Minister been rdeased while membere of the 


7 Despite the sharp slowing of Shunon Petes, ^to is opposed to Jewish tmderj 
.“'growth,^ 'cmly ^a few ectmdansts ex- linking the prisoner exchange with jafl, Israeli rat 
. peel the eebnomy to fall into a the triah according to a ^olrcsman. said he was pr 
.. .. recession. Most forecasters, pdnt- Israeli radio said Mr. Shamir was the nioe-mon 


remained is 


Compiled by Our Staff Fran Dispatches 

BEIRUT — Shiite Moslem 


« uwy TT.UI uuuuwoi u ui uic WU14 f. lhal a noting wou ld be useful. No 

decision has been made on timing 

Death Toll at 85 in Beirut Fighting; U K Drops 

Shiites Vow to Prevent Return of PID SiffiESCSSi Reservations 

" laiion to Mr. Gorbachev refers spe- -w 

Pitched battles raged around the Sabra, ChatUa and Bonrj Barajneh. dfically to a meeting in Washing- f fYl FjlJTTftn.fL 

camps while a peace committee as the intense mortar and rocket ton. According to diplomatic v -*-***'* 

from the Palestinian forces and fire stopped ambulances from protocol officials said, it is the U.S. R a 1 v- 

Shiite Amal militia met amid more evacuating more casualties. leader’s turn to play hosL • 7^, „ rv 7 i ^ 5 r 

calls for intervention by Syria, The army commander at Sabra For several months the Reagan *^ri L ." / T r , U L x.i 

which has backed both Amal and said that his 100 soldiers managed administration's working assump- ; . vrr, 
some Palestinian factions. 10 push deep into two camps to lion has been that Mr. Gorbachev Tr~, 

In Amman, Jordan, Mr. Arafat poticc a tnSe Monday night but probably would come to New YoA 

asked King Fahd of Saudi Arabia pulled out earlv Tuesday after tbe in September or October for the 
to stop the fighting. Meanwhile, Palestinians mounted a counterof- UN General Assembly session, “gg* JJJJJ 1 
both Kuwait andthe Popular Front fensive. , providing an easy opportunity for a 

for tbe Liberation of Palestine Witnesses said Amal fighters fd- Umiied meeting withMr. Reagan in 
called for Syria, which has more lowed the array into the two camps New York or a more extensive 

than 30,000 troops in Lebanon, 10 but were beaten back by the Pales- meeting of ibe two leaders in Bntish ol finals 

halt the fighting. trnian forces. . AmRTZ Viktor Afanasvev Partidpation bv British industry 

A company commander of the We are in control inside the On April 22, Viktor Afanasyev, . „ tn L.- in p.._ 


luur Mr . 


i ;>■ . kv; 
•h i 

'm ' t *« :?!•'■ 


. £71 .ing to some unusual developments, prepared to bring dc 
i. -7i“ depressed the firstrquarter fig- over tbe issue. Mr. S 


down the cabinet the issue. hours of fighting mounted to at which has backed both A 

r. Shamir belongs Defending the exchange,. De- least 83 dead and about 350 some Palestinian factions. 


' Tires, predict a heahhier expansion to the lAnd bloc and Mr. Peres to fense Minister Yitzhak Rabin, a wounded, 
later this year. However, a growing the Labor Party. Labor Party member, said: “This is Nahih Beni the leaifcr oT the 

- ■■■■■■ number also betievea recession wifl On the occupied West Bank, ac- our way. This is the right way." Amal militia, said the Pales- 

Rl Ai raaM* sometime in 1986. cording to reports, Jewish settlers But, he said, “the price is high-" tinians would not be allowed to re- 

• l)RML : “Where we have been so far this fired weapons in Hebron and Beth- Mr. Rabin was speaking at Hal- establish control in southern Leba- 

. -y ear is nothing to get exerted lehem in an attempt to disperse zor air base, 20 miles (32 k2ame- non like they had before the 1982 

- — 7a bout,” said Robert Ortner, the Arabs ceJeteaiing the homecoming teas) sooth of Td Aviv, where the invasion. He blamed Yasser 

w l £>m- ^Commerce Department’s chief rrf prisoners. There were no reports three Israelis landed early Tuesday. Arafat, head of the Palestine Liber- 

' UTi „ „„ - H.A rnl/W' Urn CK01 . ... n . ... ■ . 


tia Labor Party. Labor Party member, said: “This is 

On the occupied West Bank, ac- our way. This is the right way." 
cording to reports, Jewish settlers Bul he said, “the price is hjgfc" 


Mr. Rabin was speaking at Hal- establish control in southern Lcba- 
r air base, 20 mfles (32 lritame- non like they had before the 1982 


K '«.T~X'iC- 


r,7 .^economist “It was ft poor quarter." 
,j : . . .. . But ticking off seme evideace of 
• ‘ jaderiying strength in the pcoK^ 


of iDjuries. 


The soldiers, Hezi Shai, a ser- ation Organization, for starting the 


- The Isiadi military put road- geani and Nissan S hal e m and Yo- fi ghting on Sunday as a 
Nocks around Ai Najah. Bir Zeh srf Gross, both privates, appeared returning to southern L 

■' j ' —• - up tliMr Imp* a linmorlrivi * mi • ■« 


hours of fighting mounted to at which has backed both Amal and said that his 100 soldiers managed administration's working assump- 
least 85 dead and about 550 some Palestinian factions. to push deep into two camps to uon has been that Mr. Gorbachev 


In Amman, Jordan, Mr. Arafat police a truce Monday night but probably would come to New York 


to stop the fighting. Meanwhile, Palestinians mounted a counterof- 
both Kuwait and the Popular Front fensive. 


for tbe Liberation of Palestine Witnesses said Amal fighters fd- 
catied for Syria, which has more lowed the array into the two camps 
than 30,000 troops in Lebanon, to but were beaten back by the Pales- 
halt the fighting. tinian forces. 

A company commander of the “We are in control inside the 


Lebanese Army's mostly Shiite camps," said an intercepted radio the editor of Pravda, told Reuters 
Moslem 6th Brigade at the Sabra message from Palestinians in Sa- in Moscow that Mr. Gorbachev 


said Tuesday. 

Partidpation by British industry 
and research establishments in Eu- 
reka will be encouraged, the offi- 


-<by, he dedaird -that 'Ail quarter. ' and Bethlehem universities on- the' fit as they left a. wtute, unmarked - “We will not allow them to re- refugee earnjmid, *X)iir orders are bra. “We are -under heavy shelling 


was “not * sign of e rection," and West Bank to prevent violence. Boeing 707 and were greeted with nun," Mr. Beni said. 


that better rimes are dread: .. “ The trial issue involved 25 set- ““ 11 

“I think we wflT have a stronger tka tdio were arrested a year.ago Jf" “ 

' ^jeoond half and probably a stron- bn charges of waging a three-year 

1986 than 1985," he said, campaign of violence against Ar- .j* .C? -?T , 

of the signs of recession are abs. . said that if Israel 

"" . The charges related to atladts (Continued <m 


hugs and tears from their families. jf the Palestinians are defeated 


to stay here to stop fighters getting and there are many casualties in- 
in or oul Only armed Palestinian side the camps. We are unable to 


in the fighting between the two men are in the camps. They could reach many of them/ 


Moslem groups — most of the Pal- fight to the death." 


At the air base. Mr. Rabin also ^ tinians arc Simnix — the last 
said that if Israelis were kidnapped force challenging Shiite authority 


An Amal militiamen 




The International Committee for will get them. It may not be today 
tbe Red Cross appealed Tuesday but they are finished for good 

e r_ .l u » tiroi uvn 


(Co ntin ued an Page 2, CoL 6) in West Beirut will be eliminated. ■ for a cease-fire in the three camps, here. 


(UPJ. NYT) 


le to Reagan at that lime. As recently as 
May 10, Mr. Reagan described a 
“We Gorbachev visit to the United Na- 
oday lions as “probable." 
good A UN official said that the “gen- 


in high technology, a British offi- 
cial said. "There has been an evolu- 
tion in our approach in more posi- 
tive direction,* he added. 

The British shift on Eureka was 


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Navy Cancels Contracts 


era! impression there, gleaned m ^ during a meeting Tiws- 

day between Sir Geoffrey Howe, 
ihe British foreign secretary, and 
_ . _jl ’ Roland Dumas, the French minis- 

S \jODlTBClS ter of external relations. Mr. Du- 
mas said “we arc very pleased" 
nw • with tbe evolution in Bntisb think- 


vrv/aav/a t He added that he expected to 

continue discussions on Eureka 

Comptkd by o* Sufi Fmn Dispoiches dollars in requests for overhead with Hans- Dietrich Genscher, the 
WASHINGTON — The U S. payments that have been ques- West German foreign minister. 
Navy, accusing General Dynamics tioned by the navy, and settle those who starts a two-day visit to Paris 
Corp. of “brazen" and “improper" disputes. on Wednesday. Mr. Genscher also 

business conduct, stopped the pro- Mr. Lehman said he hoped the was to meet with President Fran- 
cessing erf up to SI billion in new process would take only a few ^ois Mitterrand and Prime Minis- 
coniracts Tuesday pending reforms weeks. ter Laurent Fabius. 


contracts Tuesday pending reforms weeks. 

in the company's’ dealings with the He charged that General Dy- 


Pentagpn. 

Navy Secretary John Lehman 
said at a news conference that he 

The Serrate voted restrictions on 
the way the Pentagon does busi- 
ness with contractors. Page 5. 


He charged that uenerai uy- France has repeatedly rejected 
namics has an atutude “that is participation in the Reagan pro- 
based on maximizin g profits with- posal in its current form. The pro- 
out regard for the public trust. * posal is for research on space-based 
Tuesday's move was the govern- defenses against missi les 
mrat's latest artion against Gener- Mr Genscher has expressed 
" Dynamics. For several months, slron& support for Eureka and 
the company bus been under tire wara £d tbat the Regan proposal 


from the Pentagon and Congress was Nocking progress at tl 
for improper billing practices, gift- va ^ uilks. Chancellor 


also would cancel two existing con- for.mproper billing practices, gift- va arms 
tracts worth a total of $22.5 milli on fP^S and other irregularities. Kohl on 


va arms talks. Chancellor Helmut 
Kohl on Monday toned down his 


and would fine General Dynamics _? enl ?80 n 15 withholding endorsement of the Reagan 

$676,283 for siting gratuities to re- S308 mfllion inpayments to Gener- p r0 posaL There have been reports 
tired AdmiraiHyman G. Rickover. 31 Dynamics for expenses tied to ^ other members of Mr. Kohl’s 


General Dynamics, the nation'! 
ird largest defense contractor, 


worth of Pentagon eluded charges for kenneling a cor- have called for a 
al 1984. P°rate officer s dog and other ex- proac h l0 j L 

, rejected a recom- V*** toaod to be frivolous by ^ w 
the Pentaaon's in- govenunem officials. (AP, UPJ) nff - ■ , . 


Caspar W. Weinberger 


As Military Buildup Eases, U.S. Evaluates Spending 


£. By Bill Keller the adminisiialion was widely praised for combat units, the modernization of equip- tige 

_ ., u -/-. s. Ne« York Times Sorvkt .' filling the armed forces’ ranks with beoa- man and combat-readiness. S 

; -r .,,sV WASHINGTON— A MW jxrfitical reafr educated andnKHC experienced soldiers, for The budget office added that, became of pro 

■ i vj ha; lygun tn «n1c tyv «r the F ftniag fin ; Tlv bpgtnnitrg tn rrfwiild Aylpted stockpiles of “important limitations" in the data, it could ers, 

jf biggest peapanne mffilary bnildap in mod- , qwrc parts and ammnmtion, for rebuilding not say “whether, the defense buildup has tier 

y can U.S. history is coming to an end, and the morale and dispelling a national sense of been worth the cost” q 


tiger. That is presently the road we are on.' 


third largest defense contractor, 
had $6 billion worth of Pentagon 
business in fiscal 1984. 

Mr. L ehman rejected a recom- 
mendation by the Pentagon’s in- 
spector general that the top officers 
erf General Dynamics be barred 
from doing work with the Defense 
Department because of evidence 
they lacked “business integrity and 
honesty." 

“I do not see sufficient grounds 
that would make debarment of in- 


’s weapons contracts until the claims coalition also have questioned par- 
r, be audited Previous claims in- iicj pa tion the U.S. program and 


program 

European 


ropean ap- 


mbat-rcadiness. Some, critics of Mr. Weinberger, and, in dividuals Bn appropriate re- 

st office added that, became of private, some of his colleagues and support- sponse," he said. “What we find is a 
imitations" in the data, it could ers, say that if this happens, the admm istra- pervasive corporate attitude that 
letter, the defense buildup has tion will have mainly itself to blame. ^ fod inappropriate to tbe public 


nation is asking whether it has l>een getting sdf-doubt. 


But Senator Lawton -Chiles, a Florida 


They say that by championing the military mist" 
budget while otte programs suffered and Mr. 


yy 


f its money’s worth. 1 But there are also, pervasive questions Democrat who has been leadmg Senate cl- the deficit ballooned, by insiqing on vast 

l ' After four yean and approp riations of about the arcane practices of tbe military forts to Jreeze military spending, said that, increases rather than rallying support for 

" more than $1,(507,900 JKXJ^W —that is, one on the basis of tte report, flat question “has more modest, sustained growth, and by 

h trilli on , seven billion, nine hundred minion . , ' ■ 10 b® answered m the n^ative. force-feeding money into a system that was 

dollars — Defense Secretary Caspar W. ; THT! JONS FOR DEFENSE 111 carries 'of weapons, which bound to waste some of h, the administra- 
; ^Jahbaget says that he has resigned himself. ^ , v have consumed the largest portion of the non invited a backlash that might have been 

1 supporting a level of military spending ' U5.MlBlary Spending buildup, Soviet advances that Mr. Wan- avoided. 

mat he describes as “maintenance." ‘ '• ■ '■ J r ~ — berger fcHmd alanmog four yeara ago have One architect of the buildup, a senior 

■ Both houses of Congress have; in effect, : . ;. Firs? of four articles pessistedor even widened. Instead of buying administ ration offidal said: “No adminis- 

told him in recent days that he would fall — — — : . more weapons, the military has sometimes tration in recent history has been more sup- 

dmsiderably short of that because the poou- the costs of an aD-volunieer mili- more ttpeaave and more amplex portive of the military. Given all that, it 

far ma nda te lea higher military budgets has rmr, rfr» nd* <rf rnng piHF in handling mili- weapoto, or the Mme weaptas al higher would be an ironic twist if part of the admin- 
disappeared. ! ' ' -taiyroendingaiid the difficulties in carrying pr ^ ' istratiem’s legacy is that it squandered the 

In Congress, there are deep disagreements ©^prescriptions for the system. ine mils tor tnese weapons wifl continue mandate tn rebuild the military" 

about what a doubling of the annual miHtaxy Other questions have been raised abort *o Ml due for yens. By the time’Prerident Jimmy Carter left 

budget has accotmhsfae^ abort who is. to whether the money bought aD that it should What worries offia in January 1981, mffitaiy spending had 

blame for die evident cdlapseof popular have. Those questions have been aggravated mflitaiy bud^e are nw restenred, these bc ^ {0 ^ J p^vSiam 

support and about bow to. curb spending allegations of frand and ouflandish over- accannukied debts wll dram off the money ^ ^ 

without undermining national secumy. bead costs — country club and ketrad fees, a*™ M pay for the people, ammunition Ahh^i. 

*-.r» i _ 1 -l .. ... ■»» ....... — ■■ - mi* nart« fft (Vii* umiwi m AftCT th£ Soviet mtOVentiOD IB Al& n a il }- 


0 . _ t . ^jms suffered and Mr. Lehman also sent a letter erf 

tOTih. 1 But there are also, pervasive questions Democr at wh o has been leadmg Se n a te ef- the deficit ballooned, by ing'qing on vast censure to Admir al Rickover for 

■ yean and appropriations of about the arcane practices of tbe military forts tp freeze military spending, said that, increases rather than rallying support for accepting the gratuities from 1961 

,(507,900 JKXlbuD —that is, one on the basis of UKityort, flat question “has more modest, sustained growth, and by to 1977, many “at the instigation of 

1 billion, nine hundred mfllion to be answered in the negative. . . force-feeding money into a system that was the admiral^ and said receiving the 

defense Secretary Caspar W. : - MtllONS FOR DEFENSE 1x1 many calvaries 'of weapons, which bound to waste some of h, the adminislra- gifts were “cieariy unethical and 
aysihrthehurnigniedhimsQU. , v have consumed the largest portion of the don invited a backlash that might have been possibly glegal." 

g a level of military spending v XJ^. IKililary Spending buildup, Soviet advances that Mr. Wan- avoided. He said toe navy would “bold off 

ibes as “maintenance." ‘ '• ■ '■ 3 r — berger found alarming four years ago have One architect of the buildup, a senior further processing” of pending 

es of Congress have; in effect, : . ; • Firs? of four articles pessisted « even widen^ Instead of buying administration offidaL said: “No adminis- contracts with General Dynamics 


le negative. force-feeding mt»ey into a system that was the admiral and said receiving the 

ies'af weapons, which bound to waste some of h, the adminislra- gifts were “cieariy unethical and 
- largest portion of the don invited a backlash that might have been possibly illegal” 
antages that Mr. Wan- avoided. He said ibe navy would “bold off 

bg four years ago have One architect of the buildup, a senior further processing” of pending 
lened. Instead of buying administ ration offidal said: “No adminis- contracts with General Dynamics 
military has sometimes trahnn in recent history has been more sup- Electric Boat Division, including a 


Id fall — ^7 — . more weapons, the military has sometimes tration in recent history has been more sup- 

PQp»r, industry, the costs of an aH-volunteer nriB- bought more expensive and more complex portive of the military. Given all that, it 
as has jgjy. ^ rojeof Congress in handling mih- weapors, or the same weapais al higher world be an ironic twist if part of the admin- 
- 1 . **— — -• — ddccs tnan marmeo. -■ • u >. 


tatyspendii^and the difficulties in canymg 

.oot'orescRDtkuis for changing the system. !“? bills for these weapons 


By most accounts, the United States is a lavish meals and' gratuities, even executive and^ spare parts to ktep the weapons in 
gJOadealberterprepared tofightawarihan iainxits — Med to the government by mih- service. 

“ivas in the spang of. 1981, when the new tary^ vendors. “The worst mmgthat could happen,” pid 


that could 


uWsmilitary machine was being starved • Office; which used the Pentagon’s own stan- who a a member of the Armed Services 2SUK2SSI1 s P® ulm B 

into inferiority, - dirds to measure changes m the fighting Co mmute d “fe » spend all of this money “wr SrSnSfiihi nd 9 that nn> 

■ tn intmwu in W» chi noinn withmilitarv Frwrw framd rJ marVrH imtimvc- and then m 1988 See YOU EUVS WntHlS SIOTIES *“ ArlCr 101 001111(1 a DUOgCt Uiat pro- 


In intervkws.in.Washixq 
leaders, analysts and mem 


i with. military . forces, found a “lack erf marked 
;oT Congress, : marts" in such indicators as them 


and then in 1988 see you guys writing stories 
about how the American ndhtary is a paper 


rare complex portive of the military. Given all that, it planned contract to build the na- 
ats al higher wotild be an ironic twist if part of the admin- lion’s next hatf-billion-dollar Tri- 
istration’s legacy is that n- squandered tbe dent submarine, and with the Po- 
wfll continue mandate to rebuild the military " mona Division, which makes 

. . ... By the time’ President Jimmy Carter left **“ navy : . . . 

35 office in January 1981, miHtaiy spending had MrLehman 10111 

tramed, these J” amount of new contracts bong 

iff the money begun to poll gently out of its post-Vietnam processed fa between $600 mfflion 

, ammunition “ DngIL , _ . . ...... and SI billion. None of the con- 

weapons in Afwr toe Soviet intervention in Afghani- (nets has yet been signed. 

Stan and the ta k i ng of American hostages in yo get it^ process gtaf tpd 

happen,” said ta ^® 1 m l^Sl said. General Dynamics would 

aRroabhcan showed that 60 permit of the American have to establish “a rigorous code 

med^Services .beheved that mihtary spendmg ^ ethics for all General Dynamics 

if this money s* 10 ^ be rxvai»s©d. _ officers and employees with man- 

vritmg stories Mr ’ Cartcr ^ bound a budget that pro- datory sanctions lor vitiations;" 

ary is a naoer (Cautioned <w Pane SL CoL 11 rework and resubmit millions of 


(Continued ou Page 5, CoL l) 


INSIDE 


■ Palestinians freed in a prison- 

er exchange with Israel were 
welcomed back to towns in the 
West Bank Page 1 

■ Nicaragua announced that 
the Soviet Union has agreed to 
supply 80 percent to 90 percent 
of its oil needs this year. Pagel 

■ Prime Minister Rapv Gandhi 

was given a lavish offidal wel- 
come in Moscow. Page 3. 

■ Pope John Paul II is a man of 

many roles. Page 3. 

■ The United States and toe 
Soviet Union agreed to lift 
some obstacles to trade. Page 5. 

■ Opinion poflS gain influence 

in Poland. Page 6. 


BUSINESS/FINANCE 

■ Carl C Icahn’s investing 
group, which owns 25 percent 
of TWA stock, is offering $446 
million For the rest Page 11. 

■ A key British economic index 
fell 0.7 percentage points in 
April, tire fourth consecutive 
monthly decline. Page 1L 


A senior West German diplo- 
matic official said that an “impor- 
tant initiative," possibly a specific 
Eureka project, could be an- 
nounced on May 28. when Mr. Mit- 
terrand and Mr. Kohl meet in West 
Germany. 

Mr. Mitterrand announced Eu- 
reka last month to jpve Europe an 
independent role tn developing 
high technology that would be pri- 
marily dvilian but with some mili- 
tary applications. 

Eureka, which was announced as 
the Reagan administration was 
seeking commitments from its Eu- 
ropean countries for its project, 
was widely viewed as an alternative 
to the Strategic Defense Initiative. 

French offidals initially said 
that Eureka should concentrate on 
six areas of research: optic elec- 
tronics. new materials, laser and 
particle-beam technology, artificial 
intelligence and fifth-generation 
computers. 

British officials said that the 
talks between Sir Geoffrey and Mr. 
Dumas did not include the range or 
timing of British partidpation in 
Eureka. 

Sir Geoffrey told Mr. Dumas 
that Britain still supported Mr. 
Reagan's initiative on research for 
space-based defenses and that he 
hoped a joint statement on Europe- 
an partidpation in it would emerge 
during a ministerial meeting of the 
North Atlantic Treaty Organiza- 
tion next month in Li s bon. “The 
two projects are not mutually ex- 
clusive,” a British official said. 


- 



2 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


In Himalayas, Video Gan les 

West’s Intrusions Worry Ladakh Buddhists 






By William Clai borne the remote temples they thought and landing on a crude, sloping 
Washington Pmt Serrict they had been the first to discover, runway. 

LEH. India — Never mind that Ladakh, on a plateau between In the first year, the opening of 
Jnere ts electricity for only four tins Himalayan and Karakoram the air route raised foreign tourism 
□ours a day, and that when the ^Wg es. the highest in the world, is from 9,000 to 13,000 visitors. The 
towm s only diesel generator is s *iH far from being spoiled by numbers now average about 12.000 
working. Video game parlors have Western travelers. Evidence of 20 th a year, slightly more than the total 


Ladakh, on a plateau between 


first year, the opening of 


the Himalayan and Karakoram the air route raised foreign tourism 
ranges, the highest in the world, is from 9,000 to 13,000 visitors. The 


trude on the 
region. 


Except for American and Euro- 
pean backpackers and the occa- 


wonong. video game parlors have western travelers. Evidence of 20th a year, slightly more than the total 
come to Ladakh, one of the loftiest centU(, y life isjust beginning to in- population of Leh. 
and most remote of inhabited lnj de on the Tibetan culture of the Except for American and Euro- 
places in the world, region. pean backpackers and the occa- 

Also, designer jeans, comic . Some Buddhist leaders are be- sional video game room, most of 
books and restaurants with names gimiing to express concern, howev- Leh still resembles lithographs pro- 
hke Dreamland and New Gaytime CT * ^at the situation could soon duccd by 19th century visitors. 

. have arrived. Adventurous hikers change for the worse. There are some subtle changes. 

. who withstand hypoxia, or oxygen According to local legend, when however. 

; deprivation, to reach ancient Bud- an airplane landed here for the first Merchants from the Kashmir 

flmet .1 I _ _ mjo ! J" .. _ . ■ VaIImi hniia Irt • K« a Irtiim 


Some Buddhist leaders are be- sional video game room, most of 
ginning to express concern, howev- Leh still resera bles lithographs pro- 


. who withstand hypoxia, or oxygen 

• TP nva ^®» 1° reach ancient Bud- 
dhist monasteries at altitudes of 

• 15.000 feet (nearly 4,600 meters) 
complain about litter along moun- 
tain paths and crowds of tourists at 


Merchants from the Kashmir 


time in 1948. using a dirt strip. Valley have moved to the town. 


Tibetans brought hay to feed iL opening antique and souvenir 


Also, according to legend, a fa- shapS “ narrow *“3* off ^ nain 
ther pointed to jeeps being unload- str S eL . . , . .. 

1 and told his s?n that the “ba- S ^ c .K y 0 UD iU??S? ^ djS ‘ 
es” would grow wings and fly like carded the colorful traditional cos- 

e “mother* dial brought them in. ‘T**’ m t ud,nS “"TOP* 11 ** 
, 7 . . hats worn bv women, in favor of 

Untd less than a decide ago. Wcslern fashions. 


B nni g h Leader in London 


Reuters 

LONDON — Prune Minister 


ed and told his son that the "ba- 
bies” would grow wings and fly like 
the “mother 1 " that brought them in. 



WORLD BRIEFS 


NATO Plans for Soviet War by 2000 

BRUSSELS (Reuters) - NATO’s military ^o^nint^an^^d 
attSf on Western Europe by tbeyear 




tS at a two-day meeting 


be Sta^*MUro«^ i S r forecast that measures already attach 

to 


on the North Atlantic Treaty Organization without mcamn ' ‘ 

risk nuclear retaliation or fuD Western reinforcement. The darker o 
“blitzkrieg” with little or no warning was increasing because of graduju. 

technological and tactical improvements m Soviet ana vvarsj. 
Pact forces, they said. 


Filipino Guerrillas Fight Near Manila 1 

MANILA (Reuters) — The Phffipoine Army fought a gunbattie 


MANILA (Reutere) — The Philippine Army fought a gimoaiue 
Tuesday with at least two suspected Communist guerrillas in a M anna 
suburb in the closest sndt encounter to the capital on record, the 


H* Wmhingkn Pm 

Refugee children from Tibet learn English and Indian languages in Leh. 


Ladakh was beyond reach to orai- 


^WJEe£.2£-! 


Tuesday for his first official visit to Leh from Srinagar, the capital of 


jrarfagahsms ssr-Mra 


tsdks with Prime Minister Margaret heavy snow seven months a year. In stv i e or -yen Wesiem fond 

BRSidJS ^ ^ SSSTSifi leader 

111 a spectacuhir who worries about Lidakh is the 

lahons. disarmament and trade. approach through narrow passes t., m » Lobzang, who as a young 


lations, disarmament and trade. 


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- monk spent II years meditating 
with a guru in a cave overlooking 
the Indus River. 

“I am deadly against opening 
Ladakh to tourists,” he declared to 
a visitor. “There may be some eco- 
nomic benefit but only a handful of 
people will gain, and many of them 
are Kashmiris. 

“Culturally and religiously, it is 
very unfortunate," he said. “Every- 
thing is changing. The atmosphere 
10 years back was different." 

He complained that Western in- 
fluence on Ladakh's youth was un- 
dermining religious values to the 
point where many people say “per- 
haps” they are BuddhisL 

The character of monasteries, he 
added, has changed because back- 
packers and ether tourists are al- 
lowed to stay in them ovemighL 

The lama insisted tourism in La- 
dakh should be sharply curtailed, 
as it has been in Bhutan, which also 
borders Tibet. 

Ladakh's chief Buddhist monk. 
Lama Kushok Bakula. complained 
that the tourism has led to increas- 
ing theft of religious artifacts from 
monasteries and other holy sites. 
Many of the stolen objects, he said, 
are sold in the bazaar by Kashmiri 
Moslems dressed as Buddhist La- 
dakhis. 

However, Ladakh's top official 
District Commissioner Si>. Kapur, 
disagreed with the religious leaders. 

“I am one of those who believe 
tourism must come to Ladakh." he 
said. “It shouldn't be maintained as 
a cultural museum. Maybe tourism 
has speeded up change a little. So 
people are wearing jeans a little 
earlier. But change m the people as 
a whole is gradual, and I don't 
think we should stop it.” 


Ortega Says Moscow Will Provide 
Most of Nicaragua’s Oil This Year 


Philippine News Agency said. . ' 

A sergeant unri a civilian wer e lolled and two soldiers wounded in tne 
five-hour battle with the suspecied members of the New People's Army m 
suburban Quezon City, it said. The guerrillas escaped. jfe 

The news agency said soldiers careened a suspected guenflia hqra<»- 
tion squad in an apartment in the city's residential district, but the 
ffw-rpTias fought their way out through heavy fumes from smoke bombs 
and tear-gas grenades. 


By Stephen Kinzer 

New York Times Service 

MANAGUA — President Dan- 
iel Ortega Saavedra has announced 
that the Soviet Union has agreed to 
supply 80 percent to 90 percent of 
Nicaragua's oil needs this year. 

Mr. Onega, who returned to 
Nicaragua on Monday from a 23- 
day trip to Moscow and 12 other 
European capitals, did not mention 
any other specific accords, saying 
“The statistics are not necessary 
now." But he is known to have 
reached aid agreements with Yugo- 
slavia, Italy and Finland. 

In addition, he said that all the 
countries of the Soviet bloc, each of 
which be visited, would provide 
raw materials, consumer goods and 
food to Nicaragua. 

Mr. Ortega said his last stop had 
been CubL where he met with Pres- 
ident Fidel Castro. Havana also 
was his first stop after leaving Nic- 
aragua on April 26. 

He said oh arrival in Managua 
that he was not bringing news “of 
abundance or bonanza." Bui. Mr. 
Onega said, his requests for help 
had brought “a response that is 
going to help the people of Nicara- 
gua confront our difficulties." His 
trip, he added, had prompted offi- 
cial and public demonstrations of 
solidarity with Nicaragua through- 
out Europe. 

“None of the countries we visit- 
ed, despite telephone calls or mes- 
sages from President Reagan, 
joined the boycott,” Mr. Ortega 
said, referring' to the trade sanc- 
tions that the Reagan administra- 
tion imposed agamst Nicaragua 
this month. He said (hat the sanc- 


tions were aimed at the “economic 
strangulation” of Nicaragua. 

Hie country’s oil needs are esli- 


■3 was a victory for communism, 
le Associated Press reported. 


Iraq Resumes B omhing Iranian Cities 


TEHRAN (AFP) — After a six-week break, Iraq resumed bombing 
economic targets inside Iran on Tuesday with aur raids agamst an 


“What the American Congress industrial zone in Ahwaz, the capital of Khuzestan, and two au fields in 

.... ... - . . .,r . . . . . , -l _ i ■ * tbmi -.a Vi,. 


mated to be 12,000 barrels a day. and the American people should Lorestan province, the Iranian news agency IRNA said. No casualties 
Venezuela and Mexico have bear remember,” Mr. Suazo said, “is were reported. 


its main suppliers, but Venezuela that 24 hours after the request by 
ended shipments last year and President Ronald Reagan was re- 


Mexico has all but 


because Nicaragua is unable to dent Daniel 


jected by the Congress, that Presi- 


make even reduced payments. saying hello to 


wasin Moscow 
airman Gorba- 


A s a result, Mr. Ortega said cbev of the Soviet Communist Par- 
Monday.be was forced to seek oth- ty.” 


an electrical network in Anwazand two oil pumping stations, one south 
of Khorramabad and the other at DrzfoL - fr- 

The spokesman said Iraq would continue bombing “economic targets 
across Iranian territory.” 


^SS&Tme Sp to Moscow *'“1 tiiink that everybody recog- Ex-U.S. NaVJ OfflCCT AlTOSted BS Spy 


was fundamentally a response to nizes” that the vote “was a victory 
Nicaragua's vital need for an oil for President Daniel Ortega and for 


supply,” he said. the C 

In Yugoslavia, winch Mr. Ortega said, 
described as “a nonaiigned cotin- Ht 


EiMEssitavSs uiiasssrJSGS-daasstf 

the Communist Party, Mr. Suazo classified documents to umdentifienageats of the Soviet 

-j v . ,r Union. 

The FBI said Monday that the suspect. Chief Warrant Officer John 


try, not a member of the Socialist emmeui bad^ “placed the most, oth Amfomy w£r Sd 
community, an agreement was stacles of any Central American 


community, 

signed for “cultural educational government in the path of a peacc- 
and scientific-technical coopera- ful settlement of the region’s con- 
tion,” according to the official San- fhets. 


dinist newspaper Barricada. It was Mr. Reagan said he was “encour- 
the first agreement between the two aged” by Mr. Suazo's remarks, 
governments. 

Finland agreed to provide $10 ■ Restriction on Trade Offi 
million in aid to Nicaragua over the Canada will not oermit Nic 


Restriction on Trade Office 


documents from his son, Michael Lance Walker, 22, a petty ofliegr 
assiged to the aircraft carrier Nimitz. He was arrested Monday. A navy 
spokesman at the Pentagon said he did not know whether the younger 
Walker was under arrest 

The prosecutor said the classified documents were mostly reports oh 
the movements of Soviet submarines and surface shins. It said that “nj 
Soviet national” was in the rural Maryland area where agents saw £ 
plastic bog containing classified documents dropped from Mr. Walkeris 


l Sn£ZZS£ > Canada ^ 001 P ™ 1 Nicara - car. It said the agents recovered the bag. The brosecutor in Baltimore, 
s 1 S 13 to ““ lts . new wde m Where Mr. Walker was held without bond after being arraigned Monday, 

Toronto to Circumvent the U.S. said that with the documents was a letter apdogmng for the “limited 


build a second unit at a geothermal embargo on goods going to Nicara- quantity” of material 
power plant. — - u - ° — -*• — 1 1 


power pianu gua, the Canadian secretary of 

The existing unit, to which Italy slate for external affairs, Joe dart, 
made substantial contributions, to id the U.S. secretary of state, 


saves Nicaragua $50,000 daily in George P. Shultz, on Monday, the 
energy costs, according to the Ital- Los Angdes Times reported from PARIS(AP) — Th&director of UNESCO said Tuesday that be must 
ian ambassador in Managua, Ar- Washington. dismiss 300 of the organization's 2,800 employees because the U.S. 

rigo L 6 pez Celly. But Mr. Clark said that Canada withdrawal has left insufficient funds to pay mem. 

disagrees with the Reagan adminis- Director General Amadou Mahtar M^Bow tdd the executive board 
■ Honduran Assails Congress ira lion's attempt at economic isola- that $20 million in a working capital fond will not cover the payitieuts due 
President Roberto Suazo C 6 rdo- tion of the Managua government the employees of the Uniuxf Nations Educational Scientific and Cultural 
va of Honduras, opening a meeting Canadian businessmen would Organization. His comments about staff reductions came as he presented 
with President Ronald Reagan in move vigorously, Mr. Clark said* to a S363.7-mfllion budget for fiscal 1986-87 to the boanL_ 


UNESCO Head Wants to Dismiss 300 


ian ambassador in Managua, Ar- Washington, 
rigo L 6 pez Celly. But Mr. C 


j . . _ uuaproi mm me nmmiiiv 

■ Hondi^an Assails Congress nation's attempt at economic isoia- 

Presidem Roberto Suazo Cdrdo- tion of the Managua government 
va of Honduras, opening a meeting Canadian businessmen would 


mdrawal has lert insufficient funds to jwy them. 

Director General Amadou Mahtar M*Bow told the executive board 


Washington, said Tuesday that sell Canadian goods to Nicaragua 
U.S. congressional rejection of aid as substitutes for the U.S. products 


to an Li-San dinist rebels in Nicara- blocked by the embargo. 


U.S. Woman Gives Birth 
To Septuplets; One Dies 


Most Western nations mi the board already have said that theftui^ 
should be reduced by $5 million to reflect the withdrawal of the Unit*® 
States, which had provided 25 percent of UNESCO's budget. The United 
States pulled out Dec. 31, arguing that UNESCO had an anti-Weston 
bias, spent too much and was poorly managed 


In a West Bank Town , Joy Erupts For the Record 


The Associated Press 

ORANGE. California — A team 
of doctors, nurses and therapists 
delivered six live babies by Caesar- 
ean section Tuesday to a 30-year- 
old teacher who had taken fertility 
drugs. A seventh baby died, hospi- 
tal officials said. 

Six of the septuplets bom to Pa- 
tricia Frusiari were “in good condi- 
tion for 28 weeks” of gestation, said 
a hospital spokeswoman. The ba- 
bies were placed on life-support 
systems and listed in critical but 
stable condition, she said. Mrs. 
Frustaci was in good condition, the 
spokeswoman said. 


As Prisoners Are Released by Israel 


The United Nations Seasitv Connril imanfmousiy approved a six- 
-J §Wf month extension Tuesday of the mandate of die UN Disaigagcnient 

Mr Xollll/I' Observer Force, which serves as a buffer between the Syrian and Israeli 

armies on the Golan Heights. (Reuters) 

so many prisoners to their homes Prime Minister Laurent FaMus promoted Edgard PfcnuB, France’s high 

inside Israeli-occupied territory comnrissionar and special envoy in the Pacific island of New Caledonia, 
and Israel itself was thought to be to the rank of minister for New Caledonia on Tuesday. Mr. Fisam had 
unprecedented. been sent to the tenito^ when trouble brake out between separatists and 

The political controversy that is settles. ■ (AR) 


By Edward Walsh 

Washington Past Senice 

NABLUS. Israeli-Occupied 
West Bank — Shimmering in the 


just nonh of Nablus, and at jails in so many prisoners to their homes 
Ashkelon and the Gaza Strip, inside Israeli-occupied territory 
where they waited through most of and Israel itsdf was thought to be 


West Bank — Shimmering in the the day Monday, before the ex- unprecedented, 
late afternoon sun, a lone jeep be- change was completed in Geneva politica] controversy that is 

longing to the Israeli Border Patrol and the signal was given to return certain to sunound the prisoner 
appeared at the top of a rise in the them to their homes in Israel the ex change seemed of no concern to 
highway as it slowly approached West Bank and Gaza. the Arabs who began g athering 

Nablus' from the north. After the taxis came buses cany- ajong ^ highway Monday mon> 



highway as it slowly approached 
Nablus from the north. 

As the jeep passed the roadblock 
that had been set up hours earlier 
by Israeli soldiers, hundreds of Pal- 
estinian men and youths who lined 
the highway erupted in cheers. 
Close behind the jeep came two 
long taxis, each carrying about six 
men who smiled, waved and held 


ing more prisoners, each preceded ^ ^ waited for hours in the hot 
by a border pohcejeqim carefully sun for the fust sign of the freed 

cnar-pri mfRrx/Qlc Ac i»ar*n Hnc - ^ 


U.S. Economic Growth Cut 


spaced intervals. As each bus prisoners. 


theroadblodt tha , hi One who waited was Moham- 


To 0.7% Rate mFnst Quarter B 


-j • * i ■ i x/uv *vuu waiUAi niu Lmnuiiir . 

similar eruption of chanting, cheer- ^ Khalil , an Arab citizen (Continued from Page 1) - - • 4J9-peroeat annual rate, the fastest «W r 
mg euphona. Q r Tcrogi w iw. ij™, near TTherias - j , _ .... . rate in more than a year. ^f 82 3& 

- «as«a i&SBSSE 

die sassiSas 

S3B£2&K3S - 1569 for Ks part ETThand- 


their fingers in a V-for-victory sign, highway had to be cleared, Pales- 
It was just after 5 P-M. on' Mon- tinian youths leaped toward the 


through loudsp 


weeks ago while visi 
er, Fatm Salim Kh 


after 5 P.M. on Mon- tinian youths leaped toward the synced toT20-vrarbrison L. 

day and the first of 605 prisonos buses hanging on to tire open win- m jggj f “ ^ pS mThm 

released from jails m Israel and the dows lo ndea short distance with attack ^ ^ 6 ^ . 

Israeh-oocupted West Bank and some of 290 prisoners who were Unix-ersity in Jerusalem. 

Gaza Strip had reached freedom m I reed here. « r- _, n w . vw . 


HOTEL METROPOLE 
GENEVE 


down subs! 
could be a 


• Grand Luxe 

• The Place to Stay 

• The Place to Meet 


uaza itnp had reached I reedom in ■ reeo nere. « f . verv oi a H 

the complex prisoner exchange that Meanwhile, men and boys y, . 

took place on the West Bank, on crowded into automobiles to foUow S tiS 
the Golan Heights and in Geneva, each bus carrying friends or rela- m 

la all. Israel released I. ISO pris- tivos who had bSo. spoiled from 10 ““ home 


in ivw ior ms pan m a man- ^ a muctfbetter year than 

grenade attack on the cafeteria at ” Mr Ortner prcdiaed. nrnead (^the 53-percent rate re- 

Hebrew University in Jerusalem. ' ' ... ^ ported earlier. : 


«,lo. He *■« “*1 °SS bTOthCT WOtlld 


“I feel very, very glad," Mr. Kha- Meanwhile, -the Labor Depart- The hnpHdr deflator measures 


oners in exchange for three of its the side of the highway. The buses 


Israel 

“His feelings haven’t changed 


due to hij 
and home 


prices for 
mtcaLFoc 


icrease and services produced by economy 
as wettas changes in prices. A sepa- 
pnees, rate fixed-weighted index that is 


34 Quai Central Gaistn 
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TeL 022/211.13.44 
Telex: 421^50 


soldiers captured in Lebanon in made Iheir way slowly through the . 'TuJrK tJ7£ nf eSh. on the other hand, fell 02 percent 

^^rn T ^ dtb Chh^ Tm '° ditiorwhS^Lds.-Mr^^ after being unchanged in n£ST rose aia 4.^STrate,^i up- 

Syna at QuneiLra. Others were thousands of residents watched the uu.h«i<« u. Th«« in nvuainw mniMuiriroikLiji 


,Y, U r!2LZ C ! C said. “He has his own creed and his The increase in the consumer ward revision from 4.4 pen 

Ii cSf fi? d ° ^ own thoughts. But 16 years is a price index was slightly less than In the fourth quarter ofl 

P jf T Ll . bya ' innt Ion 8 time and he’s certainly gath- the 0 J-percenl rise in March. How- implicit dcflaior roseat a 

But the majontj of the prisoners Some some experience over this pe- ever, over the last three months, the cent rate and. the fixed-v 
were gaiherea at the Jnaid Prison fc nod” ^ consumer price indcs has risen at a- , indek at a S^percent rate. 


But the majority of the prisoners 
were gathered at the Jnaid Prison 


ARK YOU (JUTTING OLD? 
DO YOU I I LI TIRI D 



Some reunions of families look 
place immediately, as men em- ■ , 

braced each other on the streets. 1 

Other prisoners were taken to He- 
bron, Ramallah and other West -g- 
Bank towns, to the Gaza Strip, and m c 
to Arab villages inside Israel 
lsrael has engaged in prisoner 
exchanges before, but the release of 


ward revision from 4.4 percent. 

In the fourth quarter of 1984, the 
implicit dcflaior rose at a 2 . 8 -per- 


Israelis Return Amid Anger on TradA 


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(Continued from Page 1) 
in efforts to secure the release of 
more Palestinians, he would recom- 
mend rounding op freed Palestin- 
ians who remained in Israel or the 
occupied territories. 

Two deeply held principles of the 
Israeli govonmem seemed to come 
into conflict in the prisoner ex- 
change: Never negotiate with ter- 
rorists because it encourages more 
terrorism, and never let Israeli sol- 
diers languish in Arab prisons no 
matter what the exchange terms. 

What seemed to make this cliih 
of principles all the more disturb- 
ing to many Israelis was the large 
number of Pales tinians released 
who had been convicted of some of 
the most notorious acts of terror in 


the history of Israd. In adffition, Ahmed JibriL head of the Ptmii 

ihrrr one th* font that incfmwl nf 1 I., r.. .L. r n .. . t. - 


there was the fact that instead of for Front for the liberation afP£ 
sending the Palestinians out of the kstine-General Command, which 

rrnmfrru « Vn .all nrwinu w. .1 ~ _ . ' 


country, as m .all prewons ex- negotiated the prisoner esehansfc 
dianges, Brad agreed u> aDow through the InternariondOMnmftr 
them to go back to their borne vfl- tee tfi the Red Cross, kissed tlfo 


fogea. 

"You don’t exchange soldiers for 


tee of the Red Cross, kissal tlje 
freed prisoners. 

In Tokyo, the Japanese foreign 


murderers of the worst kind," said tirinist er,- Shi n taro Abe, said thar 
Azrid Barak, who watched as Mo- Mr. CBfcamoto’s release was regref- 

1 I PL..L.IJ - T»_l • • MtlU lumnu «:_L. 


hammed Shubalti, a Palestinian J 4 ** 5 because it might encourage 
who WllM his son and daughter-in- mtef oation aI terrorism. y 


law in the West Bank in 1^80, was Also in Tokyo, a Fore 
freed. (UPT, SYT, AP) °7 spokennan said that 


■ Japanese Guerrilla Greeted 
Kozo Okamoto. a Japanese guer- 
rilla who had been freed from a life 
sentence for the. 1972 Td Aviv air- 
port massacre, was carried sfaoul- 


were obtaining a warrant for ms 
arrest- and would put him on a 
wanted list with the intonation!! 


In Td Aviv, the Israeli Am 
™astised eight soldiers who fi 



UNIVERSITY 

DEGREE 


der-high by Libyan crowds on his oaptivity in 1%7 

arrivalm Tripoh on Monday ragh, . “^As sociated Press t^tyted. 


BMXQOTS • M4STBTS - DCOORAIE 1 1 guerrifla group that killed 


Reutere reported.' . ' ! The. unprecedented 

' '• ' ment was issued on i 

Mr. Okamnto, j7, was the only two of the right soidj 
survivor of a threfr-man Japanese ho™ TK* AiL- 


home. The 

1983 


*ss repaned. 

ited army stati- 
on the day tha) 
wldiasreturnea 
were freed in i 


\m 






INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


Page 3 


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AMERICAN TOPICS 


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Officer Arrested #( 

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U.S. AideSeeks 
LikelyLandmarks 

Who picks wit the 
to he (Signaled National 
tone Landmarks? Carolyn 
Pitts. 61, a senior architectural 
historian for the National Part; 
Service. Two other expats lour 
the United Stales for the Park 
Sendee. One evaluates the sites 
of major historical, events and 
another chooses recreational 
sites. Miss Ffrisis the only ate 
who studies buildings fa their 
architectural significance. 

' On a recent tooi of New 
York state. Miss Pitts picked, 
among others, the .Albany City 
Hall (“Its exterior was designed 
by fLH. Richardson, though I 
wasn’t crazy about the interi- 
or”) and LhcJtilia Howard Bush 
Memorial m Troy (“yet another 
of those wonderful Greek Re- 
vival braidings”). 

Her recommendations, once, 
they are approved by an adviso- 
ry board of experts, gp to the 
secretary of the interior for a 
final decision. 

What does Miss Pitts look 
for? “There’s no one thin&" die 
said. “Is it one of thefewsnrviv- 
ing works of a major American 
architect? Is it relatively un- 
changed from when -it was 
bnflt? Is it a rare gem in propor- 
tion and scale?” 

“Mostly,” she said, tapping 
her stomach, “you know here, 
in the got, as soon as you see it-*”. 

Short Takes 

The job of postm ast er in die 
wealthy New York suburb of 
Old Greenwich. Connecticut, 
has gone begging for six 
months, apparently because the 
salary is not np to the ndghbor- 
bood. The job pays S25,00Oin a . 
community where nnllioii-dol- 
lar estates far n n t nmn Tiw the 
few bouses that sell fa less than 
5150,000. Federal law requires 
the postmaster to live in the 
postal district he serves. As as- 
sistant postmaster is filling in. 

The White House receady in- 
vited six re portasto a briefing 
by Donald T. Regan, the chief 
of staff, and David A. Stock- 
man, the budget director, on 
budget cuts bang proposed by 

the administration Wnat was It 

about these six dot merited 
such special treatment? AH, it 
turns oat, \rere scheduled to ap- 
pear on television panel shows 
during the next weekend. 

WBd turkeys, virtually wiped 
out in New Jersey, New York 
and New England by the tune 
of ihe&vS war, have returned 
in force with the conversion of 


■farms tio woodland, over the 
past 100 years. About: 75,000 
now roam the Northeast, wild- 
life biologists say, and with rel- 
ative impunity: Far keener than 
their -dumb, docile and plump 
|. barnyard cousins, wfldjurkeys 
are the wariest of game birds 
and the most difficult to himL 


Tickei^T^e Parades: 

Greetings by ihe Toil 

The ticker-tape parade re- 
mains. New York’s sheerest 

form of gristing for heroes or 

celebrities, but the reduction of 
paperwork brought on by the 
computer age and the sealed 

windows of modem skyscrapas 
have combmed to iednce dra- 
matically the. tide of papa, 
thrown ra the streets.. . 

Charles A. Uodbagfr was 
greeted with a veritable blizzard 



Atrmr 


diaries A Lindbergh 

of tape when he returned from 
his srao trans-Atlantic flight in 
1927,.and another 1920s celeb- 
rity, die late Duke of Windsor, 
who was then the Prince of 
Wales, recalled hearing laid 
thuds as his open, car glided up 
Broadwayrsome greeters got so 
carried away they were throw- 
ing telephone books. 

Although diminished, ticker 
tape parades stiQ produce tons 
of waste papec, and the New 
York Sanitation Department's 
day-after tonnage report is al- 
most as established a tradition ' 
as the parade itself. Earlier this 
month, the Vietnam veterans’ 
parade, produced 468 tons of 
tfuedded paper, substantially 
more than the 315 tons fa the 
American Olympic medalists 
last August, but well shot of 
therecord of 5,438 tons set by 
the WoridWar n victory pa- 
rade in August 1945. 


ARTHUR B&GBEE 




Man of Many Roles, 
John Paul Manages 
To Remain Himself 


By E J. Dionne Jr. 

Mur York Tima Sernce 

BRUSSELS — Few people are 
as determined to be themselves as 
Pope John Paul H. Yet there are 
few leaders in the world who man- 
age to be so many different people 
in the cause of a day. 

Nothing brings this hone more 
than apapaljouroey. In the last 10 
days. John Paul has shifted bad: 
and forth, from laughter to gravity, 
from sternness to conciliation, 
from the role of parish priest to the 
responsibilities of high statesman- 
ship. 

Hoe is thepope on the stump: It 
s John Pan] m a hard hat in front 
of a grimy steel plant in Luxem- 
bourg; and it is Jam Rani g rinning 
as he hid behind a maclf given to 
him in Belgium as a birthday gift. 

It is the pope lis tening with obvi- 
ous impatience, his eyes flashing 
anger, his for efin ger over Ms upper 
lip, as a Dutch Roman Catholic 
complained that the c hur c h should 
be more open to women, divorced 
people and homosexuals. It is the 
pope beaming and gesturing to a 
crowd of young people, almost 
transfixed by their accla im . 

The different faces are matched 
by different messages. Monday af- 
ternoon, the pope spoke to the Eu- 
ropean Community in tones of 
Spenglerian pessimism, denounc- 
ing a world gone awry. 

“We find ourselves confronted 
with the moral and spfcrtnal decline 
of mankind, particularly viable in 
your countries,” John Paul said. “It 
is as if human beings see life as a 
game, that Is, whenever they are not 
with despair.” 

It would be hard to be more 


ry. And John Paul, who was once 
an acta, enjqys giving encores. 

On- Sunday in Sl Lambert 
Square in Li£ge, the pope delivered 
a brief address punctuated by re- 
peated cheas from a crowd of at 
least 5.000. 

John Paul's aides were ready to. 
rush him at his way, but the 
crowds kept cheering. “John Paul, 
come here!” a group of youngsters 
shouted. The pope turned toward 
the crowd and grinned. Unable to 
resist the cheers, he remounted the 
platform. The din grew. 

“It would be much better to see 
each and every one of you person- 
ally” (Loud cheers.) ^ut then I 
would have to prolong my trip to 
Belgium." (Even louder cheers.) 
“Pd l»k»» to ki«s all the children.” 
(An uproar.) “But you do that at 
home fa me tonight” (Laughter 
and applause.) 

Smiling broadly, the pope 
thanked ms hosts, waved and left 
them da pp in g and shouting fa 
more. 

D 

That was in Belgium, where John 
PauTs approach worked as it was 
supposed to. But in the Nether- 
lands last week, the rules of papal 
visits were cast aside. The Nether- 
lands was a country that did not 
seem at all happy to have the pope 
around. 

The opposition of the liberal 
Dutch Catholics was expected by 
the Vatican, and so in some ways 
could be dismissed. “A substantial 
proportion of the Catholics in Hol- 
land are not really Catholic, they're 


Pope, in Belgium 



botan 

Pope John Pad n 

Calvinists, they’re ‘ Protestants.” 
said a high Vatican official, noting 
that only 40 percent of the Nether- 
lands is R oman Catholic. 

Yet public-opinion polls show 
that on many issues, notably the 
sexual ones. Catholics in over- 
whelmingly Catholic Belgium agree 
with their Dutch co-rdijponists. So 
why the difference? 

A reporter for a Catholic news 
agency offered this answer: “The 
Bel gians think they're sinners, and 
so they're trying to walk between 
the lines. The Dutch believe they’re 
saints, and so they want the lines 
moved.” 

In fact, the Belgians quietly said 
many of the things that the Dutch 
had said with more fanfare. At 
event after event, there always 
seemed to be a polite, respectable- 
looking woman asking that women 
be given a bigger role m the church 
a calling fa greater moral toler- 
ance on sexual issues. 

□ 

What stunned and outraged 
some Vatican officials even more 
than principled opposition was the 
willingness of some Dutch to heap 
ridicule cm (he head of the 800- 
milli on-member Roman Catholic 
Church. 

There was the comic book do- 


pessimistic about the state of ho- A n -r% ■ t rrx • 

inanity. Yet Monday, the pope As He LndS l OUT , P 1 ^ P°P? « “d hyp o- 

■ spoke lyrically erf tire relationship " ' cnticaL A popular television show 


-spoke lyrically 
between an and frith at the Onr 
Lady of Grace Church in Brussels. 
“Anyone who. believes, loves and 
hopes as a true Christian enters a 
new world." John Paul told a g roup 
of artists. “ Similarly , this can be 
said of anyone passionately in- 
volved with art, fa which God 
gave hi m taste and talent” 

These are, of course, opposite 
sides of the n»ristian message: sin 
and salvation. But concern with 
one OT lhe other often seizes the 
pope himself , making John Paul a 
remarkably unpredictable visitor. 
□ 

Nothing brings John Paul to life 
like crowds, especially crowds of 
children, and especially cheering 
crowds that n ybide childr en. Vati- 
can schedulers sometimes give the 
pope more time when be is to see 
children, knowing that he will tar- 


Hears Criticism 

Jteufrra 

BRUSSELS. — Pope John Pan! 

U listened to calls Tuesday 
fa liberal reforms in the Roman 
Catholic Church, during the last 
day of a three-nation visit in which 
strong challenge* have been m*rie 
to Vatican teaching. 

A student leader at the Catholic 
University of Louvain. Veronique 
Oruba. criticized the church ban on 
contraception and abortion, con- 
tentious issues that have marked 
the 11-day pastoral tour of the' 

Netherlands, Luxembourg and Bd- 
gjum. 

“Some of your positions regard- arrived in Belgium, divided as it is 
mg the people of Latin America by fierce linguistic conflicts be- 
and the theology of liberation snr- tween Flemish-speaking Flemings 


ran slapstick routines making fun 
of this traveling pope. And the 
most startling departure from the 
kind of greeting be is accustomed 
to was a song called “Popie Yopie,” 
itself a term of derision. The tune 
climbed to near the top of the 
chans in the Netherlands, and this 
was one of the verses: 

Afv name is Popie Yopie 
I lump ily travel ’round 
And always when J arrive 
I spontaneously kiss the ground. 

It is not known whether John 
Paul ever beard the soug. 

□ 

Kissing the ground posed real 
problems fa the pope when he 




Democrats Agree on Minimum Tax 


ini 


H» . IT 


The Associated Prat 

WASHINGTON — House 
1 -nriain.wh jP Democratic leaders compromised 




i a £l S*- i 


' .' i »V I 
fra 


tom tf 
tab* in 


(JrovlhC 

1'irrfQi* 


two men had been an opposite 
sides in the dispute. 

It also leaves open the question 
themselves Tuesday and ofvdietfaairvainesfromtheinini- 
to support a form of a mini- '• mum corporate tax should be ap- 
mum tax. on corporations bat to plied toward trimming the deficit 

a to reducing tax rates fa individ- 
aal taxpayers. 

The agreement was readied after 
Mr. O’Neill, a Massachusetts Dem- 
ocrat, declared that aproposal for a 
piimmnm tax on - corporations had 
expected later in theweek; of a 556- enough support to wm 1 


, : i ivj- leave details of the tax ont of the 
1 - ; 1986 federal budget 


The agreement averted a show- 
down in the House of Represent* 
lives and appeared to remove the 
last obstacle to House 


*P' 


However, Mr. (TNeDT -argued 
that approval of the tax now could 
hinder efforts later this year to re- 
vise the federal tax system. 

la taking such a position, the 
Democratic leader sided with the 


trilion package of spending cuts 
drafted by. -the Democrats. 

Democratic leaders, had been 
.deeply divided over whether to (Hit 
a proposed minimum corporate 
tax, which could hdp trim the fed- 
eral deficit by as moch as $20 W- Reagan admmBtcatioa and with 
'^ion next year, into the deficit- re- Senate Republican leaders, who 
auction package that the House is have sought to keep legislation fa 
-to begin debating at Wednesday, tax revision separate from the pro- 
- The deficii fa mol 1986, which 
.starts OcL L is estimated at more 
■than $200 bOfion. 

The compromise, agreed, to by 
the House speaker, Thomas P. 

. O’Neill Jr. ana the majority leader, 

.Jim Wright leaves derails of the tax an essential part of the 
‘ J. . minimum far tO the tax-writing document. - 

Ways and Means Committee. The The compromise states that the 


S: - 


posals nowin Coigress to cot the 

deficit. 

But Mr. Wright, a Texas Demo- 
crat, and sane other kw party 
members opposed Mr. O’NdlL 
They sought to make the corporate 

l 


present tax code “lacks equity and 
fairness in that it permits profit- 
making entities to escape tax- 
ation.” 

“Therefore;” it continued, “it is 
the sense of the House that the 
committee on Ways and Means 
should repot and the House adopt 
legislation which addresses these 
inequities by imposing a minimum 
tax.” 

A final vote on the nearly $1- 
triSion budget fa the 1986 fiscal 
year is expected to be taken late 
Thursday a on Friday. 

“I think it is a mistake in timing" 
to offer the lax proposal during 
consideration of the budget, Mr. 
O’Nein said. “Everything is timing 
in politics.” 

President Ronald Reagan ada- 
mantly oppose using revenue from 
the proposed tninimnm tax to be 
used to reduce the deficit. Rather, 
he wants to use the money to Iowa 
tax rates in other areas as part of a 
revision of the tax system. 


prise us,” she said. 

Miss Oruba, reflecting previous 
criticism by Catholic intellectuals 
of the -pope’s alleged European 
bias, said that people in his native 
Poland, no less than in Nicaragua, 
H Salvador and Chile, were fight- 
ing fa fundamental values of the 
church. 


in the north and French-speaking 
Walloons in the south. 

John Paul arrived at an airport 
firmly in Flemish territory and 
kissed nothing at all Fa rear of 
angering French-speakers. Instead, 
be traveled to Cmquantcnaire Part: 
in Brussels and kissed ground offi- 
cially certified as bilingual. 


Sunday Opening of Stores in Britain 
Approved Despite a Tory Rebellion 

The Associated Press 

LONDON — British government plans to abolish restrictions on 
Sunday trading and allow all stores to open have been approved by 
the House -of Commons despite a rebellion by 26 Conservative 
legislators. 

The House voted 304-184 Monday night to approve a repot 
ordoed by Prime Minista Margaret Thatcher’s Conservative govern- 
ment which recommended ending the Sunday trading restrictions. 

The government is expected to introduce legislation to enact the 
report’s recommendations later this year. 

The 26 Tory rebels ignored strict instructions by their party's floor 
managers in the House to back the government and voted against the 
report's recommendations. They fear that lifting restrictions will 
endanger Britain’s traditional Christian Sunday. 

Under a muddle of laws dating back at least 500 years, some hems 
can be sold on Sunday and others cannot. Fa example, it is legal to 
sefl cigarettes, whiskey, gjrly magazines and bread out illegal to seU 
Bibles, meat, tea, powdered baby milk or bars of soap. As a result, 
most stores are shat Sundays. 



I ,tne<’ rn " 


9 




J? 


■-i 


Mr* 


by Bxuhe i ttewcm 



Gant's watch, 
ultra-thin,..: 
quartz, waur-rennant: 
Mat btaek.treatad steel 
and gold plated. 

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Pan-Asian Security Meeting Urged 
By Gorbachev in Talks With Gandhi 


By Dusko Doder 

Washington Post Semcr 

MOSCOW — The new Soviet 
leader, Mikhail S. Gorbachev, 
called Tuesday night fa a pan- 
Asian security conference to reduce 
tensions on the continent. He said 
“the people of Aria are not less 
interested in ensuring peace and 
peaceful cooperation Qian" those 
living in other parts of the worid. 

Mr. Gorbachev made the pro- 
posals in a dinner speech honoring 
the visiting Indian prime minister. 
Rajiv Gandhi. Mr. Gandhi re- 
ceived a lavish welcome earlier in 
the day what be arrived here on his 
first official foreign visit since tak- 
ing office last October. 

Mur. Gorbachev sharply criti- 
cized the United Stales fa its mili- 
tary policy and fa its alleged inter- 
ference in the affairs of Third 
Wald countries. He said India, the 
current chairman of thenonaligned 
movement, could play “a very im- 
portant role" in the’ process that 
would lead to an all-Asian security 
conference. 

He suggested that apart from In- 
dia. tbe Soviet Union and China 
would be key players in such an 
Asian forum from which tbe Unit- 
ed States was presumably to be 
excluded. 

Several regional Asian security 
initiatives “and, in some measure 
Europe's experience," Mr. Gorba- 
chev said, may lead to a “common, 
comprehensive approach to the 
problem of security in Asia and a 
possible pooling of efforts by Asian 
slates." 

Diplomatic observers here said 
the idea of a pan-Asian security 
conference was not new but that 
Mr. Gorbachev for tbe first time 
spelled it out in greater detail His 
proposal was seen as an effort by 
Moscow to seize the diplomatic ini- 
tiative in Aria. 

The Soviet leader indirectly 
Named the United States fa much 
of the difficulties in the Third 
Wald. Commercial and strategic 
interests, be said, have led “imperi- 
alist powers” to interfere in inter- 
nal affairs of other countries and 
declare their “sphere of vital inter- 
ests without even asking the opin- 
ion" of these nations. 

He also renewed criticism of 
President Ronald Reagan’s plan to 
develop a space-based missile de- 
fense system. 

■ Strong Soviet Ties 

Earlier, Steven R. Weisman oj 
The New York Times reported from 
New Delhi: 

Mr. Gandhi, who initially struck 
many diplomats as potentially pro- 
Western in outlook, has embarted 
on a campaign to strengthen ties 
with tbe Soviet Union and reassure 
the public of his devotion to social- 
ism. 

Political commentators in New 
Delhi said the prime minister delib- 
erately chose Moscow for his first 
major trip overseas since taking of- 
fice in October. 

Next month, he is to rial the 
United States to meet with Presi- 
dent Reagan. 

A succession of senior U.S. offi- 
cials have visited India recently, 
each praising Mr. Gandhi fa Ids 
steps to ease government control of 
the economy. Others have noted 
with satisfaction that Mr. Gandhi 
seemed to have stepped up the al- 
ly tilt pi 


tempt to diversify the purchases of 
military weapons so that India no 
longer relied exclusively on the So- 
viet Union. 

Yet for all these moves, many 


experts cautioned against any reel- 
ing in tbe West that Mr. Gandhi 
would reorient baric Indian poli- 
cies away from support of Moscow 
on many issues. 

“This euphoria in the West is 
absolutely dangerous," said Bha- 
bani Sen Gupta, a specialist on the 
Soviet Union at the Center fa Po- 
licy Research in Mew Delhi. “It is 
‘ ’ lisappomi 

mild upon 


bound to lead to disappointment 
upon Indo- 


U.S. diplomats acknowledge 
that they have been frustrated and 
sometimes even infuriated bv In- 
dia’s refusal to denounce the Soviet 
sweep into Afghanistan in 1979. as 
almost all members of the United 
Nations did. 

But few think that India is likely 
to change its view, no matter how 
many weapons it buvs from the 
Wcsl 


Rajiv Gandhi will bi 
Soviet relations as the first founda- 
tion of his foreign policy." 

Moscow has granted India many 
concessions and incentives. The 
major Soriei- Indian economic ac- 
cords. for instance, permit India to 
pay in rupees. In the military area. 
India has been given billions of 
dollars in other concessions, en- 
abling it to buy MiG fighter-bomb- 
ers and reconnaissance planes, 
tanks, helicopters, transport 
planes, artillery, frigates and mis- 
siles. 

Experts agreed, however, that 
Soviet-lndian friendship is based 
on far more than trade and military 
assistance. Even Western diplo- 
mats acknowledge that it is rooted 
in a shared vision of what should be 
the proper strategic balance in 
South Asia. 

The main point of the lndian- 
U.S. disagreements has been Paki- 
stan. India's chief rival in the re- 
gion and, for the last five years, 
America's chief friend there. 

Today, U.S. military aid for Pa- 
kistan. which amounts to S1.6 bil- 
lion, is regarded by Indian officials 
as a major threat 

To the annoyance of U.S. diplo- 
mats, Mr. Gandhi has kept up the 
practice of his mother of vaiement- 
ly criticizing U.S. aid to Pakistan. 

He has gone even further, de- 
nouncing U.S. coven assistance to 
the rebels in Afghanistan as creat- 
ing instability in the region. Aides 
to the prime minis ter argue that 
helping the Afghan insurgents only 
stiffens the resolve of the Russians 
and even raises tbe threat of their 
retaliation against Pakistan. 


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Page 4 


WEDNESDAY, MAY 22, 1985 


Heral 



Pob&bed With The X*v YwfcTbBM tad The Washington Pom 


(tribune. In Forgotten Laos, the Pain Goes On 


Defense Under Review 


This is one of those truly interesting times in 
Washington when the policy and political con- 
text of a transcendent issue — defense — are 
under review. No longer is defense being treat- 
ed chiefly as a response to international threat 
Its advocates are bong forced to justify their 
claim, against strong dvifian counterclaim, for 
short budget dollars. Congress has accepted a 
broad requirement for slewing down the Rea- 
gan ad m i n i-tt ra h'nn' a militar y buildup. The ad- 
ministration has accepted only a tactical re- 
quirement to slow the buildup for one year. In 
die difference lies much grinding political con-, 
flia to come, hut that is all right. There is Htr' 
tie worth arguin g about more. 

Despite the truly disturbing disorder of the 
Reagan buildup, there is no denying the bene- 
fits it bought in power and confidence. At 
some point, however, there was bound to be an 
application of the brakes. President Reagan 
had raised military spending to a level double 
that of 1979. He had also made h posable for 
others to press the questions now coming to 
the fore. How should defense and economic 
considerations be meshed? How can the Unit- 
ed States ensure it has the defense it needs? 

Currently the first question is in the spot- 
light. With one eye on the budget deficits and 
the other on a range of procurement scandals 
and Pentagon management maneuvers. Con- 
gress is deciding at what rate defense should 
grow. (Even if there is a freeze and no inflation 
increase, the money in the pipeline will keep 
spending rising through the '80s.) The issue 
has come down to a fairly narrow one. The 
Democratic House and the Republican Senate 
are divided over whether the Pentagon's infla- 
tion adjustment should be eliminated; the 
House thinks it should be, the Senate that it 


Les Amin — are of a mind and a competence 
to think about defense as defense, and not 
simply as a budget-cutting exercise. They have 
to draw Congress into a dialogue with those in 
the adminis tration who have a taste for rigor- 
ous defense p lanning . Even at the new peak 
thar may be becoming the Pentagon's budget- 
ary p lateau, that is the urgent need. 

— THE WASHINGTON POST. 


Those Troubled Banks 


In Maryland, the next stage of the struggle 
with failed savings and loan associations will 
be an investigation into possible fraud and 
thefL But the troubles of S&Ls in Maryland 
and throughout the country go far beyond the 
few spectacular cases in which there is evi- 
dence of financial crime. The fundamental 
reason for their distress is that the traditional 
S&L, whose principal business is mortgage 
lending, is not weO adapted to survive high and 
unpredictable interest rates. The isolated cases 
of illegality are having extraordinary reverber- 
ations because of the strain on the whole 


financial industry. The public responsibility 
here is, above all else, to protect and guarantee 


here is, above all else, to protect and guarantee 
the depositors’ money. 

The most spectacular collapses of the past 
several months have taken place among pri- 
vately insured S&Ls in two of the six stales 
that permitted private deposit insurance. But 
even among the federally insured S&Ls there 
has been a dramatic Hparh rate in recent years. 
At the end of 1980 there were 4,002 federally 
insured S&Ls; currently there are about 3,100. 
Of the 900 that have disappeared, most faded 
or were quietly merged ouL of existence be- 
cause they were in serious trouble. Thai kind 
of trouble is not limited to S&Ls. Nationwide, 
about 35 banks have failed this year. 


In Maryland, the immediate question is pro- 
tecting the depositors — first, the depositors in 
the S&Ls that have collapsed, and beyond that 
the depositors in those institutions that will be 
forced out of business because they are not 
able to meet the standards for federal insur- 
ance. Governor Harry Hughes, to his credit 
and the state's, has accepted a broad responsi- 
bility for funds that most depositors thought, 
mistakenly but understandably, were insured 
by the state: Are the taxpayers going to have to 
make good all of those losses? It would be far 
better to let banks from other states come into 
Maryland and buy those troubled S&Ls where 
they are willing to do iu 
Meanwhile the White House refuses even to 
acknowledge that anything needs to be done 
for or about the financial system — except, of 
course, further deregulation. Most of Congress 
is uneasily aware of a need for legislation, but 
neither of the hanking committees is making 
much progress toward the broad reconsider- 
ation of the- financial rules that is now essen- 
tial Institutions that take deposits from the 
public have special obligations. In their scram- 
ble for growth, some of them seem to have lost 
sight of those obligations. The events in Mary- 
land, like those earlier in Ohio, are a warning. 

— THE WASHINGTON POST. 


Letting Philadelphia Bum 


More than a week has gone by since Phila- 
delphia authorities bombed the militant group 
MOVE in an operation that left 11 dead and 
53 homes reduced to shells- Yet the crucial 
question remains unanswered: Why did Phila- 
delphia firefighters wait an hour and a half 


before trying to contain the fire? 
Mayor W. Wilson Goode an 


Mayor W. Wilson Goode and other city 
officials offer chang in g and contradictory an- 
swers. For five horns, the authorities blasted 
the MOVE house with 640,000 gallons (2.4 
million liters) from a water cannon in an 
unsuccessful attempt to dislodge the militan ts* 
rooftop bunker. The police finally decided to 
destroy the bunker with a bomb dropped from 
a helicopter. Whether that was sensible can be 
debated. There is no debating that a fire en- 
sued, apparently accelerated by inflammables 
stored in the MOVE house. Firefighters stood 


by for more than an hour as the blaze spread 
up and down the street Why the delay? 

At first, the fire commissioner said he did 
not want to subject his firefighters to gunfire. 
But that danger was not a factor earlier in the 
day, when they used the water cannon. 

Then the police said the fire had been al- 
lowed to bunt in order to destroy the bunker. 
Why did that require standing by as all the 
other houses were destroyed? 

Over the weekend the fire commissioner 
offered yet another answer The police had 
prohibited streams of water that might obscure 
their view of the MOVE house — hardly a 
good reason to sacrifice a neighborhood. 

The burning question remains: Why did 
Philadelphia firefighters wait an boor and a 
half before trying to coatain the fire? 

— THE NEW YORK TIMES. 


Other Opinion 

Oadhafi’s Visit to Khartoum “S 0 - D0W 1 

^ fnu» tneisiftre nrr 


Colonel Qadhafi in Khartoum, embracing 
idan's new ruler, calling for the overthrow of 


Sudan's new ruler, calling for the overthrow of 
Arab “reactionary regimes” and predicting 
that the Egyptian one would be the first to go: 
such must have been the content of the average 
nightmare suffered by the Egyptian president, 
or by the Sudan desk officer at the American 
State Department, as recently as two months 


ago. Yet dow that the nightmare has come 
true, insiders profess to find it reassuring. The 
visit occurred at two hours’ notice; be [Colonel 
Qadhafi] must have been self-invited. 

The present rulers of Sudan have impressed 
Western officials as moderate, honest and sen- 
sible men. But their political experience is 
limited. In Colonel Qadhafi they have chosen a 
diabolical table companion. 

— The Times (London}. 


FROM OUR MAY 22 PAGES, 75 AM) 50 YEARS AGO 


1910: America’s High Cost ofLivbig 
NEW YORK — While economists are investi- 
gating the advance in prices of commodities, 
and particularly the necessaries of life, and 
disputing about the causes, a commission of 
the Legislature of Massachusetts settles the 
matter in a report of 700 pages. Free traders 
lay the blame upon tariff and trusts. Manufac- 
turers declare the rise is due to excessive prof- 
its of the middleman. Railway managers assert 
that the fanners and the railroads are innocent 
and that retailers are responsible lot the in- 
crease. Doubtless all these are factors in the 
increased cost of living, but the greatest is one 
which most persons dislike to consider, and 
that is the extravagance of the American peo- 
ple, of which the extravagance in government 
expenditures is merely a reflex inridenL 


1935: Hiller’s European Peace Plan 
BERLIN — In a speech before the Reichstag 
[on May 21 J, Chancellor Adolf Hitler outlined 
in thirteen points the positive contribution 
that Nazi Germany is willing to make toward 
maintaining peace in Europe. They may be 
summed up by saying that the RetchsfOhrer 
promised Germany's cooperation in a collec- 
tive system provided she was admitted on a 
basis of equality. The FOhrer b egan by criticiz- 
ing the rest of the world for its incomprehen- 
sion of the Nazi revolution. “The ideas of 
National Socialist Germany have no thing in 
common with the chauvinist patriotism of the 
old bourgeois Germany, or with the interna- 
tional tendencies of Marxism," he said. “It 
rejects the idea of Gennanization which ap- 
peared possible to bourgeois minds.” 


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© 1985, International Herald Tribune. All rlgfiu reserved. 


W ASHINGTON — Ten years 
ago Tuesday. U.S. forces 


By Roger Winter 


should not. The Senate bfll looked to us like a 
pretty sound and hefty cut, a sufficient one. 
But this presumably will now be negotiated. 

We think the administration has a fair point 
when it says that others, friend and foe, would 
draw weighty conclusions from the spectacle 
of a too-preetpitate US. retrenchment. But 
they would also draw weighty conclusions 
from the spectacle of America settling in for 
the long haul at a level at once relatively high 
and, most important, politically sustainable. 
In either event. President Reagan has lost the 
control on the defense issue that he enjoyed 
throughout his first term. This argument is 
gang to be resolved in. and by Congress. 

That leaves open the question of bow Amer- 
ica gets the defense it needs. Unfortunately, 


withdrew from Laos. The evpit was 
overshadowed by the fall of neigh- 
boring South Vietnam and Cambo- 
dia. Today, Laos is still a country 
ignored. Yet the suffering of ns 
people is very reaL ^ 


It is controlled by Vietnam, with 
all the trappings of satellite stalls; 
Soviet ana Vietnamese advisers and 
perhaps 40,000 Vietnamese troops, 
more per capita than Cambodia. 

There are still political prisoners 

in Laos, more per capita than in the 

“re-education” camps of Vietnam. 

The Hmong and other highland 
people of Laos are still targets of 
repression, though systematic mili- 
tary suppression is decrcasingly 
n wd ff d against the hill people. 

The Pathet Lao communist gov- 
ernment — and in particular the 
Vietnamese presence, which is seen 
by Lao and nil] people as proof of 
the irreversibility of the regime — 
has generated the highest number 
of refugees per capita of any Indo- 
chinese country. 

In January, Thailan d instituted a 
policy of interdicting and poshing 


few people are looking at it. The administra- 
tion conducted its buildup without showing 
that it had fully thought out a plan for the use 
of resources or the accumulation and applica- 
tion of forces. Its doIjcy came down to: More. 


tioa of forces. Its policy came down to: More. 
What justification there was for this approach 
in the wirtier phase eroded as the years passed. 

As ikjhappeos. Congress is much better 
equipped to think in terms of budget numbers 
than in terms of military missio ns to be per- 
formed and forces to be designed and pro- 
duced and deployed to sem those missions. A 
few legisla tors — among them Sam Nunn and 


bark newly arriving Lao asylum- 
seekers, including Hmong. Thai of- 
ficials say the lessened willingness 
of the United States and other 
Western nations to resettle refugees 
leaves them little choice, given their 
man y serious problems, and that 


many Lao now entering Thailand 
are economic migrants. 

Refugee advocates hare pres- 
sured Thailand, the Reagan admin- 
istration and others to ensue im- 
plementation of a valid screening 
process. Such a proce ss , removed 
from the Mekong River and involv- 
ing United Nations partiopaticn, 
would ensure that refugees such as 
those recently released from re-edu- 
cation camps would not be pushed 

back to jeopardy in Laos, but rather 
would receive at least temporary 
refuge in Thailand. 

Despite promises from various 
officials, no such screening process 
is in place. Target dates for imple- 
menting such a process have been 
postponed repeatedly. There is no 
detailed agreement as to how 
screening win be done and by 
whom, nor how the safety of those 
“screened out" win be ensured if 
they are returned to Laos. US. offi- 
cials, working with their UN and 
Thai counterparts, hare not satis- 
factorily resolved the issue. 

A central reason for remember- 
ing Laos 10 years later is to pro- 
mote i wirig nManriing atvMi f the refu- 
gees from that country — about 
150,000 of them — in 'the United 
Stales. The Hmong and other high- 
land refugees (as weQ as the rela- 


tively small number of Lao in the 
secret forces) arrived in the United 
States assuming their fighting role 
would be known and appreciated. 
Instead then' encounters the final 
irony of the secret wan Their 
unique contribution had gone un- 
known and unheralded. 

Recently I visited a California 
town with a substantial Hmong 
community. There was an air force 
base near town. Nobody there I 
talked to realized the Hmong had 
formed the on-the-ground rescue 
net for air force flyers during 
the war years. 

Ten years ago. when they were 
forced out of Laos, the Hmong and 
other highlanders sought to settle 
together on the land m Southeast 

Asia or elsewhere. Disoriented and 
dispersed across the United States 
despite (heir desire to remain to- 
gether, the Hmong and other high- 
landers who come to America 
should receive better support. The 
first step is improved recognition of 
their war role. 

One of the best ways to demon- 
strate recognition of that role is to 
ensure that the Hmong and other 
real refugees from Laos again have 
access to asylum in Thailand. 


The Reagan Appro®* 

To Radical Regimes 






By Jonathan Power 

t ONDON — rS&ji'j ndVan imcMWiSiS 

3-/ policies toward what ^ 4 .„. in nim Mctfiwhilfc Americas 


JLt policies toward wnai nc w 
the communist threat m Untrai 
America have been consistently hard- 
line. as reflected by his decision to 
impose a trade embargo on Njcani; 
gua. Yet in the rest of the Third 


Aswan Dam. Mcanwiuw, 
wlicv had become 


Hir™ «ML 


omliniKii tin ■»»* Mawa. 

* Iran: Mi. Rea* 40 op* ; 


World he has shown much greater bccaute he capitalized on wh*t 

flexibility in dealing wth radical re- p - u , ^ jimmy drier's 

giirxes. Has this brought results. The wj lron - s Aywaflahte- 


picture is varied. , Khoflwm> Yet once to office 




ander iiaigTln hU'each;*^ 

called Libya the prime «ampk of the reran > f J{UUi >a[ 


d a n g er of international terronstw. 
Americans were asked to lcavcUhva. 

S am Libya and U.S. high 
exports to Libya were 
wo Libyan aircraft were 
shot down by U.S. jets over the Gulf 
of Sidra. The United States increased 


military aid to Libya's neighbors. 

What was the effect? For a vear or 
two. Colonel Moamer Qadhafi limtt- 


m the regime's fjiuiteriaMKgyafr- 
nisi stance. Despite otwnctcff tram* .. 
an ciwniphcirv in the terrorist Mtiidt. 
against U.S. targets m UMMBL ® 
United States dul run retaliate, task 
like Libya, has *pat.»iwWL 
ueminfilv nNivnWS IP v-5. fmWlfc. 
If Mr. Reagan had bwi toa^er 
would Iran have behaved dtftowfcff 
It is doubtful. 

• Afghanistan: Mr. Rcayn lm 



ed his military involvement in Chad: Cm3 5pQ0CT 

sasftSSHai 

hailed the attempts to assassinate to the tSsSS 

T dhuoA. *ra» embargo against we aamK ; 


The writer is director of die United 
States Committee for Refugees. He 
contributed this comment to The 
Washington Post. 


Libyan dissidents abroad. 

But the pause was short-lived. In 
the s umm er of 1983 Libya was back 
in Chad and in 1984 attacks on Liby- 
an exiles began again. There were 


Solutions 
The Allies 
Fail to See 


By Richard Grant 
and David Hobbs 


again, that there would be benefits. 
What is needed is an agreed “fence" 
around the alliance so that fences 
inside it can be tom down. 

The dispute is far from being solely 
America's faulL The allies should be 
more sensitive to US. sentiment on 
technology exports. For them, a little 
loss in trade is worth a substantial 
gain in technology sharing. 

The Europeans should also see that 
they must boost cooperation among 


themselves. Unless they do, they r 

be unable to compete with the United 
States, and if they canno t compete, 
the United States does not nave 
enough to gain through cooperation. 

A truly competitive Europe is a 
distant prospect, bat there are, fortu- 
nately, more immediate steps that 
could be taken to defuse the dispute. 
For example, export control bureau- 
cracies cobid be str eamlin ed, genu- 
inely “’critical*' technologies could be 
better defined and accusations about 
who leaks most could be curtailed. 

But the bottom line is that while 
the allies are at odds over technology 
transfer they are not making efficient 
use of their formidable twhnnlngirai 
resources. While that situation con- 
tinues. the allies harm themselves 
more than they harm the Russians. 


The writers, members of the interna- 
tional staff of the North Atlantic As- 
sembly, contributed this comment to 
the International Herald-Tribune. The 
views expressed are their own. 






grain cmcuugo ' 

Union. To that wiem hu pofcy% 
softer. Diploma wrallY. the Uim!'/ 
States has been passive. Jeaviag tin 
running to Pakistan and the Aaaocaft- 
lion of Southeast .Asian Nations.: -: 

• Indochina: Again Mr. Rage _ 
has picked up where Mr. Ctnerfcft • 
off Although commuted 10 too re- 
moval of the VieinaroMc^adted re- " ” 
gjnc of Hcng Samnn m Cambodia, jt. 

» n . ... kMMft nrt ffiflu ha. 


■L; 


WMwmAmm 
wanes YMEwarno 

BtmuPM mmmv . 

_5fctf£T»fzeg£i?n: 


gjmc of Hcng Samnn m uamtxwa, 
Mr. Reagan has been no toon Bfr 1 
ccssful than Mr. Carter in tdMg 
it. For warn of an alterna tive po icy . 
he acquiesces in OtiflCSt: supptttftr 


the deposed murderous reguneofM 
Pm. which holds legal title to Choto- 
din’s seat in the United Nations. - 
Apparently he has decided DOC to' 
channel arms to the other deacnii of 
the resistance led by Prince Narodon 
Sihanouk and former Prime Mintae 
Son Sann. This would draw tiietbu- 
ed States in deeper than it wants to go 
and perhaps teul to new UJL' con- 
frontation with Vietnam. Ages, Mr. . 


This is the second of two articles. 

B RUSSELS — What can be done 
about the technology transfer 
problems that strain the Western alli- 
ance? In answering that question 
most government officials say that 
these problems should be, and are, 
addressed by COCOM. the Coordi- 
nating Committee for Exports to 
Communist Areas, in which most al- 
liance members and Japan thrash out 
their disagreements on technology 
exports to the East bloc. 

Unfortunately, there are as many 
■ complaints about COCOM as about 
U.S. export regulations. It is under- 
equipped, understaffed and unable to 
keep pace with technological pro- 
gress, so that technologies appear on 
Die marketplace before they appear 
on the COCOM export lists. The 
United Stales nas made proposals 
designed to rectify some of these 
shortcomings, but other members 
have shown little enthusiasm. 

If the dispute is to be resolved, the 
main problem to overcome is one of 
motivation. And the alliance mem- 
bers lack motivation to settle their 
differences because they are looking 
at the problem in the wrong way. 

The Europeans look at their ex- 
ports to the East bloc — S28 billion 
worth last year, mostly in manufac- 
tured goods. Tighter export controls 
would cut these exports but would 
not substantially affect U.S. exports 
to the East bloc, which were worth 
about $5 billion in 1984 and consist- 
ed mainly of grain. 

Bnt the United States fears that 
less restrictive export controls would 
boost Soviet tmlitaxy capability, ne- 
cessitating increases in Western de- 
fense spending of bfflions of dollars. 

While both parties look at the ob- 
vious costs of changing their policies, 
they ignore the real costs of their 
existing potides. Billions of dollars 
are now wasted because alliance 
members unnecessarily duplicate re- 
search and development, because op- 
portunities for cooperative research 
and development (and production) 
are missed and because promiang 
technologies are nnderexpioited. In 
other words, the costs of compromise 
are considered, bat the costs of fail- 
ure to compromise are noL 
What Die alliance really needs, 
then, is a compromise on export con- 
trols. The precise form of that com- 
promise is not really important. Once 
compromise is achieved, the «ninn«». 
can stop squabbling about exporting 
technology and get on with exploiting 
technology far more efficiently than 
is now the case. 

The Europeans should recognize 
that tightening export controls would 
cost something but Dial there would 


a ) j 

SET 


BMr H 

j 

m isi 

KraL/l 

XI' 11 

/3 



Reagan prefers to leave the mare re- 
sponsibility For pressuring the Viet- 


namese to regional powers. 

• Southern Africa: Unlike in other p 


parts of the Thud World, the Rettn 
administration has pursued « pofley 
of diplomatic engagement, woriang 
for a settlement in South-West Afri- 
ca. or Namibia: a nonaggressioa pact . . 
between Mozambique and South Af- 
rica; and a ceasefire between South 
.Africa and Angola. 

Although the administration 
toughened the U.S. stance bn some 
points, in other ways K has shown 
remarkabW Rule ideological concern 
about the Marxist makeup of Die An- 
golan and Mozambican govern- 
ments. In 1983, relations with Mo- 
zambique were restored to the 
ambassadorial level and the United 
States encouraged Mozambique to^ 

inin fh* Tnii-mnrtnnnl MnwttrvW': 


For Updatingihe U.S. Chemical Arsenal 

By John Glenn, Bam* Goldwater, Sam Nunn and John Warner 


The writers are members of the SerMte Armed Services Committee. Senators 
Clam and Siam are Democrats, Senators Goldwater and Warner are Rqnddkanx 


* ; 


* fS 


W ashington — This week 

the Senate will again confront 


vy Die Senate will again confront 
the issue of whether to modernize the 
U.S. inventory of chemical weapons. 
We want everyone to be clear as to 
what the issue'is, and what it is not. 

First, Dm issue is not whether 
America should or should not have 
chemical weapons. We already have 
them, and so do Dm Russians. And 
until a treaty can be negotiated for a 
complete and verifiable ban on chem- 
ical weaponry (an initiative we 


kept separate until Dm projectile is 
fired. Because the chemicals are 


fired. Because Die chemicals ore 
harmless until mixed, leakage or 
damage to the shells does not present 
a hazard. The issue that Congress 
soon will deckle is whether to keep 
Die chemical deterrent in (he old and 
increasingly dangerous unitary canis- 
ters or whether to put it in the new, 
safer binary shells. 

Another common misconception is 
that by moving to binary munitions. 
America would be increasing its 


strongly support), we believe that few stockpile of chemical weapons. Just 


Americans would favor a policy of 
unilateral disarmament in this area. 
Second, the issue is not whether to 


develop a new type of chemical weap- 
on or a more lethal one. At present, 
the U.S. chemical deterrent is either 
stored in bulk or deployed in what 
are “unitary” munitions: shells 
in which the chemicals are already 
mixed and, therefore, highly toxic. 


the opposite is true. Under the Senate 
Armed Services Committee proposal, 
for every binary weapon added to the 
U.S. inventory, the ecraivalent of four 
unitary weapons would be destroyed. 
So not only would America have a 
safer deterrent, but it would also re- 
duce Dm size of iu chemical stockpile 


have possessed chemical weapons 
(Afghanistan. Southeast Asia), there 
is strong evidence that these amis 
have been used. If hostilities should 
ever break out in Europe, no one can 
say with certainty that the Russians 
would uk chemical weapons against 
the United States or its allies. But in 
our view, that gamble is simply not 
worth taking, especially since a quick 
escalation to nuclear weapons would 
likely result if the West lost Dm bet. 

A final argument often advanced 
against modernizing U.S. chemical 
weapons is that doing so would seri- 
ously hinder efforts to reach on 
agreement for their abolition. But 
this argument ignores the fact that 
the Russians summarily dismissed 
the draft treaty the United States 


by 75 percent in the bar gain. 

In the past, some have argued Dial 


the draft treaty Dm United States 
proposed at Geneva last year on this 
subject. It also ignores trie fact that 
America's self-imposed, unilateral 


join the International Monetary 
Fund. The United States has not 
funded Jonas Savimbi in bis straggle 
to topple the Angolan government. 

Can any conouskms be drawn 
from all this? Mr. Reagan's Third 
World policies, although tougher 
around Die edges, have not overtime 
been sharply rfiffermt from Mr. Car- 
ter’s. Only in Nicaragua have they 
been continuously confrontational. 

Even with tbe Namibian question, 
the U.S. demand that the Cubans 
leave is not an extreme position; Mr. 
Reagan accepts that H nas to be part 
of a deal whereby South Africa's 
threat to Angola is removed and free 
elections under UN auspices are hdd 
in Namibia. 

One thing is clear. During Mr. 
Reagan's tenure Moscow's behavior 
has been extraordinarily subdued in 
Third World trouble spots. In a 
strange way a modus vivendi seems 


But bulk-stored chemicals cannot be possessing chemical weapons pro- 
delivered and thus obviously are not vides no real deterrence, we beueve 


delivered and thus obviously are not vides no real deterrence. We beueve 
a credible deterrent. For their part, that history indicates otherwise, 
unitary shells are inherently danger- 


ous, since any accidents or leakage produced and employed poison gas 
from them could easily result in a only after the Germans used it first 


mat History indicates otherwise, action. Ana it ignores toe Historical 
Since World War I — when the Allies truth that the Russians negotiate seri- 


major catastrophe, not only for the and on a massive scale — instances in 
mill taiy personnel h andling than but which waning nations have each pos- 


for nearby communities as well 
Fortunately, another kind of 
chemical shell is available. In the “bi- 
nary” shell, the toxic dements are 


sessed chemical weapons (World War 
II, Korea, Vietnam) have resulted in 
neither ride's using it. But in cases 
where only the Russians or their allies 


America’s self-imposed, unilateral to have been arrived at Nothing is 
moratorium on chemical weapons boiling up or getting out of' hand, » 
production has now lasted for 16 except perhaps in Nicaragua. P 
years without any reciprocal Soviet This is no mean achievement. But 
action. And it ignores the historical what Dm secret is, it is difficult to 
truth that the Russians negotiate sen- divine: A loud rhetoric combined 
ously only when there is no advan- with a soft glove application? Per- 
tage for them to do otherwise. haps. Or could it be that Moscow has 

We are keenly aware that the pori- been too bound up with its own sue- . 
tion we advocate emails a dearpoliti- cession troubles and too bogged ' 
cal risk for those who support it But down in Afghanistan to give wash- 
we also believe that our position is ington the usual hard time? 

Die right position. International Herald Tribune. 

The Washington Post AO rights reserved. 


tage for them to do otherwise. 

We are keenly aware that the posi- 
tion we advocate emails a dear politi- 
cal risk for those who support it But 
we also believe that our position is 
Die right position. 

The Washington Post. 


How America Can Rebound Against the Japanese 


W ASHINGTON — It has been 
six veais since Ezra VoscL the 


VV six years since Ezra Vogel, the 
Harvard raofessor, published ^Japan 
As Number One,” a book that per- 
haps mere than any other, analyzed 
and defined the e m erg i ng threat from 
the Far East to America's dominant 
position in international trade. 

I remember reading it and being 
skeptical about its dire forecast Bui 
everything that Has happened since 
has confirmed Mr. Vogel's judgment 
Now, in a year in which the U.S. 
trade defidt has reached such heights 
that the United States has become a 
debtor nation, Mr. Vogel has written 
a new book, “Comeback,” published 
by Simon & Schuster. 

As its tide implies, Mr. VogeTs 
ultimate message is optimistic. But 
the first half of the book, explaining 
why “the American response to Dm 
J apanese challenge has thus far been 


By David S. Broder 


But Mr. VqgeTs purpose is not to 
demoralize Americans. His message 
is that the United States can pull 
itself back into a healthy position, not 
by aping the Japanese, but by learn- 
ing from its own successes. 

Mr. Vogel expands on the themes 
of his earner book in profiling the 
techniques of the Japanese for build- 
ing their maritime and machine-tool 


industries, reviving the economy of 
Kyushu after the decline of its coal 


mines, and moving into computers. 

He argues that the United States 
has comparable models of success. 
Mr. Vqgel's examples are the space 
program, the expansion of agricul- 


ture exports in the 1950s and 1960s, 
the postwar private housing industry, 
and the development of the North 
Carolina Research Triangle. 

Linking the four, he finds common 
elements for an “American-style 
competitive strategy" Dial is some- 
thing other Plan mimicking Japan 
These paragraphs express his view: 

“Competitiveness is the combined 
result of all the national qualities and 
policies that help people and compa- 
nies perform at more effective levels. 
Success will not come primarily from 

S tion or reorganization but from 
Karted efforts of government, 
business and labor working toward 


common goals. Better national com- j. 
petitiveness draws on better educa#* 
tional standards, more dedicated 


tional standards, more dedicated 
workers, and more successful man- 
agpment. It is helped by a predictable 
economic environment and the lower 
cost of capital that gives companies 
greater leeway to consider long-term 
results. It is therefore affected by 
savings rates and budget deficits 
and requires effective monetary and 
fiscal policy. 

, “[ l helped by strong companies 
led by effective managers. But to deal 
with complex issues that require na- 
tional coordination, there is no alter- 
native to developing a selective in- 
dustrial strategy. The government is 
"ready involved because public in- 




V - 


woefully inadequate," is scaiy. 
Simply doing what Arnei 


Simply doing what Americans 
have been doing, he makes dear, mil 
see the competitive advantage widen 
in Japan’s direction. He draws a chill- 
ing picture of a world in the 1990s in 
which Japan has extended its domi- 
nation from autos and other manu- 
facturing areas to high-tech indus- 
tries ana services including banking, 
engineering and personal needs. 

Although Die Japanese are domi- 
nant in tins scenario, even they can- 


LETTERS TO THE EDITOR 

A Use for the MX 

Regarding “ The Pentagon Pliers ' ’ . I visited Nessdwang. A l 
f Letters, April 11) by Ben Lane: the staff at (he hotel where 


wrests are at stake; Dm only question 
is how to improve that involvement," 


v m 


i for sL 
and- 


'<-■* » ■>» 


I visited Nessdwang. A member of 
Dm staff at (he hotel where the former 
£» men met said they wore their uni- 
forms, and he said people had come 
from all over the world to “celebrate” 
past deeds. Such effrontery, and Die 
lack of any public disavowal of the 
reunion by Chancellor Helmut Kohl, 
gives one pause to think. 

This reflects an emerging sickness 
whereby the perpetrators of violence 
are portrayed as "victims" while Die 
victims are viewed as the perpetra- 
tors. For the police to describe the 
NesseJwang protesters as “punks and 
anarchists" is a classic example 
PHIL SCAN LAN. 

Sydney. 


That “useless piece of garbage," as 
Mr. fjne calls the MX, will keep the 
Russian bear in its lair, just as Die 
Minuteman missiles have done since 
1960. The MX is also creating thou- 
sands of jobs in the United States. An 
object need not be used to be useful 
CARLYLE JOHNSON. 

MarbeHa, Spain. 


not enjoy the spectacle of a United 
States forced to resort to protection- 
ist measures, higher _ taxes and ever 
more repressive police tactics in a 
vain attempt to deal with the devas- 
tating economic and social conse- 
quences of its competitive decline. 


Protesting the SS 


Regarding "19 Are Hurl in Protest 
Against SS (May Ul: 


This report on the protest aj 
the SS reunion in Nessdwang, 


for expanding trade aia/for^prav- 
m 8 ““ Development and commercial 
application of new technologies. 

Many of his proposals are familiar, 
some are controversial. But after 
rewung this book, you cannot avoid 
Dtinkiug that these issues deserve far 
more attrition than do MX mk«il« 
or ala to Nicaragua, 

These issues have to be at the fore- 

frant of budgetary, defense and lax 
policy, for they are. quite literally, 
suroval issues for the United States!-. 

Thu challenge will be met ooly bw r 
a nation whose government is ready 
to fin* us responsibilities. If Presir 
» looking for a fight 
worth winning, this is the fight. 

The Washington Post. 






r.V"* 


. l*i 





1 



INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


PageJ 




As Arms Buildup Eases, U.S. 
Asks if It Got Money’s Worth 


Public View; The Military Dollar 

Percentage of respondents 


(Continued from Page 1) 
P?sed an increase of 10 percent 
alter allowing for inflation. 

Bui the military advisers to the 
pmsident-dect had bigger plans. 

william Schneider Jr., a kev 
member of Ronald Reagan’s na- 
uonal security transition team who 
“came the associate director for 
national security at the Office of 
Management and Budget, recalled 
that the group identified these five 
priorities: 

• A major renovation of the nu- 
clear arsenal. 

• A restoration of combat forces 
that had been widely deplored as 
unfit. 

• An expansion of the navy and 
of air transport to project power 
into remote areas in line with wb.it 
the new administration described 
as a “global commitment." 

• A sweeping program to mod- 
ernize nonnuclear weapons. 

• A heavy investment in commu- 
nication systems. 

From the beginning. Mr. Wein- 
berger was less the architect than 


Lrouble that the industry had 
spending the money pumped into 
it- The Defense Department has a 
record 5280-billion “backlog." 
money appropriated bv Congress 
but not yet spent. 

Many critics. Jed by a cadre of 
conservative Republicans in Con- 
gress. argue that in its haste to 
spend, the Pentagon had little time 


to police. They say it allowed exces- 
sive overhead charges and unregu- 
lated profits. 

Recently the Pentagon has taken 
a more aggressive public stance 
against major contractors. The 
General Dynamics Corp. saw $244 
million in payments withheld as 
restitution for alleged overbilling. 

The General Electric Co., after 
its fraud indictment, was temporar- 
ily barred from contracts, and fol- 
lowing its guilty plea could be for- 
bidden to bid on new defense 
contracts for three years. 

So far, these efforts seem to have 
done little lo restore diminished 
confidence in the Pentagon’s abili- 
ty to spend wisely. 


Administration critics say the biggest 
disappointment has been in the area of highest 
spending — weapons procurement. 


the salesman. On March 4. 1981. he 
appeared before the Senate .Armed 
Services Committee to outline the 
proposal for rearming America. 

“If we continue at anything like 
the levels of expenditure of the re- 
cent past.” he said, "by the middle 
1980s we will dearly be second in 
military power to the Soviet 
Union.”’ 

Congress, for the most part, co- 
operated. 

According to the Office of Man- 
agement and Budget. Mr. Reagan 
has received 97 percent of the mili- 
tary purchasing power that be re- 
quested, when inflation is account- 
ed for. 


Congress, some members say, 
ive its blessins to budgets with 


gave its blessing to budgets with 
little discussion of the underlying 
strategy. 

Representative Les Aspin of 
Wisconsin, a Democrat and chair- 
man of the House .Armed Services 
Committee, said: “The Pentagon 
announced it wanted a 600- ship 
navy and sent up a succession of 
budgets consistent with that. But as 
far as 1 know, we never gave 15 
minutes' debate to the subject of a 
600-ship navy.” 

Adjusted Tor inflation, the mili- 
tary budget has grown an average 


of nearly 9 percent a year. The 
Central Intelligence Agency esti- 


Centrai Intelligence Agency esti- 
mates that Soviet military spend- 
ing. adjusted for inflation, has 
grown about 2 percent a year since 
1976. 

The spending by the United 
States was heavily skewed to equip- 
ment. From 1980 to 1985, “invest- 
ment.” which includes weapons 
procurement, research and military 
construction, grew 92 percent, even 
after adjusting for inflation. It now 
consumes 47 percent of the military 
budget 

By comparison, military pay in- 
creased 12 percent. 

When the first Reagan military 
budgets were added to Mr. Carter’s 
last proposal, there was a powerful 
spurt of spending. In the first two 
years, military spending leaped 25 
percent faster than inflation. 

“Ic had nothing to do with a 
strategy, nothing to do with a pro- 
gram of what we needed for de- 
fense,” said Richard A. Stubbing, 
who was deputy chief of the nation- 
al security division at the Office of 
Management and Budget. “It was 
the services' shopping Gists.” 

Mr. Schneider, the transition) 
team member and now undersecre- 


tary for security assistance, science 
and technology in the State De- 
partment, strongly disagreed. 

The idea, he said, was to take 
advantage of the favorable mood 
by “forward-funding” as many 
programs as possible. Money 
would be committed to multiyear 
weapons contracts. This would as- 
sure the industry' of a steady flow of 
business for years to come, thus 
encouraging it to gear up for more 
efficient production. 

However, several studies by 
Congress and the Pentagon have 
found that companies have not in- 
creased their investment in plant 
and equipment during the buildup, 
despite higher profits and a variety 
of incentive programs. 

There is no official barometer of 
waste, but one statistic suggests the 



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Analysts agree that it is tricky to 
assess how much improvement Mr. 
Reagan bought with his first 51 
trillion. 

Much of the money went into 
areas such as communications, in- 
telligence and research, which are 
inherently hard to measure. Much 
went into classified programs. 

The Congressional Budget Of- 
fice report. “Defense Spending: 
What Has Been Accomplished.” by 
R. William Thomas, is cute of the 
most complete recent efforts to 
measure the indicators that do ex- 
ist, and it was unable to draw a 
dear condusion. 

Pentagon figures show that the 
military is not much larger now in 
terms of personnel, but a bigger 
“force structure” was never a top 
priority of the administration. 

The number of uniformed per- 
sonnel including reserves, is up 
317.000. to 3.2 million, with the 
biggest increases in the National 
Guard and reserves. 

The universally acknowledged 
success story is the quality of lhe 
people in uniform. Studies show 
they are better-educated and. be- 
cause of higher re-enlistment rates, 
more experienced than their coun- 
terparts at the time that Mr. Rea- 
gan took office. Drug use and the 
rates of absence without leave have 
declined dramatically, and even the 
administration’s critics say morale 
is high. 

Other measures of combat-readi- 
ness are more ambiguous, as dem- 
onstrated by these items from Mr. 
Thomas’s report: 

• Training, measured in flying 
hours, steaming days of ships and 
battalion training days, has in- 
creased only modestly, although 
the use of simulators and more re- 
alistic field exercises may have 
raised its quality. 

• The percentage of aircraft, 
tanks and missiles that are “mis- 
sion capable” has improved slight- 
ly, with the best progress in air 
force and navy tactical fighters. 

• Stockpiles of munitions have 
increased significantly for ail ser- 
vices, but other war reserves, espe- 
cially spare parts, have fallen be- 
hind. That is attributed to the 
advent of new weapons that require 
costlier spare parts. 

Administration critics say the 
biggest disappointment has been in 


the area of highest spending — 
weapons procurement. 

Spending for nuclear weapons 
has grown fastest, nearly tripling 
since 1980. The administration re- 
vived the B-l bomber, spent heavi- 
ly on the little-noticed area of com- 
mand and control systems and 
inaugurated a research program 
aimed at inventing defenses against 
nuclear missiles. 

Critics, like William W. Kauf- 
mann of the Brookings Institution, 
a privaie research group, say these 
programs amount to wasteful ex- 
cess. For example. Mr. Kaufmann 
argues that cruise missiles can pen- 
etrate Soviet air defenses better and 
more cheaply than the B-l and that 
submarine-launched missiles make 
the land-based MX a white ele- 
phant. 

The administration counters that 
it has passed the best test of suc- 
cess: the Soviet Union returned to 
Geneva to discuss limiting nuclear 
arms. 

In so-called conventional forces, 
the pace of modernization has been 
erratic, with much of the buildup 
still in back orders. 

One striking feature of the build- 
up. the Congressional Budget Of- 
fice found, was a trend toward cost- 
lier weapons. 

For example, the budgets for air- 
craft went up 75 percent, but the 
'number of planes bought went up 
less than 9 percent The budget for 
missiles went up 91 percent but 
only 6 percent more missiles were 
purchased. The Pentagon bought 
30 percent more tanks, but spent 
147 percent more to do it 

But one reason more weapons 
were not bought is that in the first 
two years of the administration, the 
“unit cost” of many weapons 
soared above Pentagon estimates. 

In the last two years, costs for 
these weapons have remained 
steady. But Senator Sam Nunn of 
Georgia, the senior Democrat on 
the Armed Services Committee, 
predicted that a variety of weapons 
programs nearing production 
would crowd the budget and lead 
to higher prices across the board. 

In Congress, the feeling is wide- 
spread that an unacceptable share 
of the buildup was diverted either 
by wasteful buying practices or in- 
adequate Strategy- 

Members of Congress say there 
are several reasons the tide has 
turned against military spending, 
among them reports of waste and 
the intransigent tactical style of 
Mr. Weinberger. 

Foremost, however, is the U.S. 
deficit of 5200 billion, which has 
set military spending in competi- 
tion with domestic programs. 

Mr. Weinberger prefers lo think 
that his department is, in a sense, a 
victim of its own success. 

“Our own achievements have 
made it more difficult to continue 
doing what we need to do ” he said. 
“There’s a perception that you've 
done a great deal, spent a lot of 
money — correct, we have — and 
it’s hard, then, to say why we 
haven’t finished.” 

Even some of Mr. Weinberger’s 
critics, however, worry that the 
backlash may be dangerous if it is 
not handled carefully. 

Mr. Aspin, for example, argues 
that the Pentagon needs 3 percent 


“Do you think 
Federal 
spending on 
military and • 
defense 
programs 
should be 
increased, 
decreased or 
kept about 
the same?” 


Senate Approves Restrictions 
On Pentagon’s Business Habits 


* m 
- ££■ 




INCREASED 


By Steven V. Roberts 

Sent York Tutus Scrrice 
WASHINGTON — The U.S. 
Senate has responded to mounting 
criticism of military spending prac- 
tices by approving' without dissent 
on amendment to make significant 
changes in the way the Pentagon 
does business. 


changes because “I'm tired of read- 
ing about the scandals, and I*m 
tired of going, borne and apologiz- 
ing for them." 


Monday would require S'^nior Pen- 
tagon offiriflJs. both civilian and 
military, to disqualify tbemxly* 
from contract negoua uons tt the 


Some of the leading supporters contractor i nvofveu approacraja 
of the reforms in military purchas- the official about acc . l -f , JJf f 

;„<> nra.-fifve ir*» ctmno mnnflnm Senator Proxmire wad utai mure 


ing practices are strong supporters 
of the Pentagon. They argued that 
unless changes were made, the ris- 


Scnator Proxmire srdd that more 
than 3.000 former Pentagon 
ployees now work f or private con- 
tractors anti that this “revolving 


jes oust ness. . public resentment would fur- tractors and that this revolving 

iter undermine efforts to strength- door” syndrome -pees sevsre 


DECREASED 


wide-ranging amendment, ap- 
proved Monday night, would bar 


en the milii 


53 51 


piuvcu IVIUUUAJ Iii y ih ^ 

Weinberger has raid” repeatedly haw barred" Pentagon employes 
J?8*' that the Pentagon was moving on from working for mdirary conuac- 
them about a job. Another change mra iw onH rnn» mu t tv*. (tv ihnw vea* ■ s after leaving the 


Defense Caspar W. 


problems for our nauon. »• 
The defea ted amendment would 


KEPT ABOUT- 
THE SAME 


SeSrouS fi tore fw lira-yea.'.* after leaving the 
waste. Dan Quayle. Republican of government. 

SSSSwu Indiana, said at hearings on his A second major change would 


# 4> 

f /V' * s ^ ^ <g> 


The proposals were adopted by maMaa ; w ““ 

an 89-0 vote as an amendment to a S* 

bill that would authorize $232 bfl- 


lion in military programs. 

Earlier, however, the lawmakers 
rejected. 67-22. a proposal that 


them and had voiced no objections. 


require the defer ise secretary to use 
at least two sou ices of production 
for major centre icts. unless he could 


Public antagonism toward the prove that co mpeutive bidding 
Pentagon has been died as a major would cost me >re or endanger na- 


ThoM respondents who said they did not know 
or would not answer are not shown. 


^Ail^rdduu jge would require Jhe 
dehne reflected a 11111 l « vels * allows only for an Pentagon to order a study of all 
mnr-rv ->o<(i n« wasteful Pen increase at the inflation rate for the noncompetiti.ve contracts, estmaat- 
fiscal year 1986, beginning Ocl 1. ing what* a* project should cost. 
"panitni Hill rn President Ronald Reagan original- Other provisions would require 
2SH l 2?£. ly proposed an increaseof about 6 the DefeSs; Department to insti- 
scribe the outcry as the “toilet seat P creent ' ovcr 2X1(3 above inflation, tute t ramie .g programs for person - 
SSi" J f£££e STuS . House Budget Committee nd charged with monitoring cen- 


Tt* New YofV Times 


U.S., Soviet Agree to Lift 
Some Trade Obstacles 


syndrome, a neterence to stones * “ . ", 73 » ZZrZu^AA 
that the government paid $640 each .Copied a plan that would 

fo? speJdly made St seats. lhe ft”* 


has adopted a plan that would tracts; to; issist small businesses ia 
eliminate even the inflation factor, competing for work; and establish 


know from ourmaiU' freezing the Pentagon budget at the minimum, standards of education 


MOSCOW — The United States 
and the Soviet Union agreed Tues- 
day to lifL some obstacles to better 
trade between them. Commerce 
Secretary Malcolm Baldrige said. 

After two days of talks with the 
foreign trade minister, Nikolai S. 
Patofichev. and a meeting with the 
Soviet leader. Mikhail S. Gorba- 
chev, Mr. Baldrige summarized the 
agreement at a news conference. 
He also said he believed that trade 
between the two superpowers 
would soon increase. 

“Patolicbev and 1 agreed that 
there were trade obstacles that 
could be removed now.” he said. 
The result should be improved ac- 
cess to each country’s markets for 
companies and trading organiza- 
tions from the other country. 

However, a radical change in the 
t radin g picture would depend on 
improvement in other aspects of 
U.S.-Soviei relations. 

Under the terms of the accord, 
Soviet state trading organizations 
will be told that Moscow wants to 


Lawyer Paroled 
For Spying Must 


Work in Beijing 


to 5 percent growth on top of infla- 
tion. although he said he would 


tion, although he said he would 
vote for a freeze this year if it were 
part of a serious, deficit-reducing 
package. 


Lawmakers who support a 3-per- 
mi increase worry that if Con- 


cent increase worry that if Con- 
gress cuts deeper, it may trim the 
less glamorous accounts for spare 
parts and other supplies, which 
have no lobbyists to promote them. 


Nexi: The procurement process. 


The Associated Press 

BELTING — A Hong Kong law- 
yer who was paroled last week from 
a 15-year spying conviction must 
stay in Beijing and do government- 
assigned work and cannot talk to 
reporters, a Justice Ministry 
spokesman. Lu Jian. said Tuesday. 

The lawyer is Hanson Huang, 34. 
who was jailed two years ago in a 
case that focused attention on se- 
cret detentions. Mr. Huang, a Har- 
vard-educated lawyer,' vanished 
from a Beijing hotel in January 
1982. The government did not dis- 
close his arrest, trial and prison 
sentence until nearly two years lat- 
er. 

China's state press reported May 
15 that Mr. Huang bad been re- 
leased because of his good behavior 
in prison and “willingness to serve 
Chinese modernization.” 

The official press account of his 
parole said that Mr. Huang had 
colluded with unidentified state 
functionaries and stolen 32 confi- 
dential state documents and more 
than 400 copies of restricted inter- 
nal publications, endangering na- 
tional security. 


“Mit einem neuen Superlativ 
wartet Canon jetzt auf: Der 
grolSte Hersteller von 
Spiegelreflexkameras pra- 
sentiert die Canon MC, 
apostrophiertals ‘kleinste 
Autofokus Kamera der Welt’. 

‘Color Foto’ in Germany wrote this about the 
latest compact to come out of Canon. 


Cawm 





Cation/MC 



increase trade with Lhe United 
States and that no discrimination 
should be applied against US. 
companies, Mr. Baldrige said. He 
said the Russians had denied that 
any discrimination had taken 
place. 

The United States undertook to 
“attempt to see” that Soviet com- 
panies were not discriminated 
against In addition, the U.S. ad- 


Senator William Proxmire, Demo- **5?®°* 


crat of Wisconsin, told the Senate, 
“the American people are angiy.” 

Dale Bumpers. Democrat of Ar- 
kansas, said he was supporting the 


One key provision adopted quisitiotr force. 


and train ing for the Pentagon's ’ he- 


U.S. Senate Votes 


ministration will present legislation 
to Congress to eliminate a 34-year 


to Congress to eummate a 34-year 
ban on Soviet fur imports. Mr. Bal- 
drige said. 

The two sides also agreed to start 
discussions this year on a shipping 
agreement and to set up commit- 
tees to ease promotion of trade and 
to deal with practical problems. 


Against Motion 
To KOI MX Missile 


A smal l taptel 
on a little street 
called Rodeci Drive. 


“We accomplished the objective 
e had set, which was to re-estab- 


we had set, which was to re-estab- 
lish a mechanism for Healing with 
and resolving commercial and eco- 
nomic problems after a seven-year 
hiatus.” Mr. Baldrige said. 

He said the Moscow trade talks, 
the first at the ministerial level 
since 1978. had not dealt with un- 
derlying U.S. polity toward trade 
with the Soviet Union. 

Mr. Gorbachev attacked that po- 
licy at the meeting on Monday with 
Mr. Baldrige, saying that the Unit- 
ed States tried to use trade as a 
political lever. Soviet objections 
center on restrictions on technolr 
ogy exports and a US. link in the 
1970s between trade terms and the 
emigration of Soviet Jews. 


The Associated Press 

WASHINGTON —The Senate 
voted 56-42 Tuesday against an- 
other attempt to kill the MX mis- 
sile, but opponents promptly start- 
ed another battle to limit its 
deployment. 

After two hours of debate, the 
Senate rejected a motion by Sena- 
tor Gary Hart, Democrat of Colo- 
rado. to halt Pentagon spending on 
the weapon. 

The chamber then turned to a 
proposal by Senator Sam Nunn, 
Democrat of Georgia, to limit 
eventual deployment of MX mis- 
siles to 40 instead of the 100 sought 
by President Ronald Reagan for 
stationing in existing silos. But the 
debate was delayed when Mr. 
Nunn left the Senate floor to dis- 
cuss his move with Republican 
leaders. 

The votes cams during Senate 
consideration of the bill authoriz- 
ing Pentagon spending for fiscal 
1986. 


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Page 6 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


- Opinion Polls Gain Influence in Poland 


By Michael T. Kaufman 

H’ew York 77 mo Svnice 

WAR.SAW — Public opinion 
pollk. once regarded I >y Communist 
theoreticLms as indications of false 
consciousness, are playing an in- 
creasingly important role in politi- 
cal decision -making lin Poland. 

For seversd years, certain govern- 
ment agenesis in the Soviet-bloc 
countries havi? charted the effect of 
propaganda campaigns. But these 
were often b’^-profile operations 
whose studies, often reportedly 
fashioned to politual specifica- 
tions. drew Iit.de attention from 
high officials. 

Now. for more- than a year, in the 
aftermath of the Solidarity period, 
opinion polls are .beiE;g prepared by 
an independent body that has 
gained tne patronage of General 


Woiciech Jaruzelski, the Polish 
leader, despite objections by hard- 
liners. Along with cabinet minis- 
ters. General Joruzelski receives 
and reportedly pores over the polls. 

The new agency is called the 
Center for the Study of Public 
Opinion. Its director. Colonel Stan- 
islaw Kwiatkowski, reported that 
similar efforts to remove opinion 
surveys from propaganda agencies 
are under way in the Soviet Union. 
Bulgaria. East Germany and Hun- 
gary- 

Colonel Kwialkowski made it 
dear that, while surveys on such 
issues as the comparative populari- 
ty of government and dissident fig- 
ures were becoming factors in deci- 
sion-making. they were not likely 
to have the weight that they do in 
the WesL 


“Public opinion can be wrong 
from an objective point of view." 
said the officer, who appeared for 
the interview without his uniform, 
wearing corduroy trousers and a 
plaid lumberman’s shirt, and look- 
ing very much like a sociologist 
who could have written a disserta- 
tion on the semantics of propagan- 
da, which in fact he did. 

In a bulletin published by his 
agency. Colonel Kwiatkowski 
wrote that it had “the duty to medi- 
ate between the authorities and so- 
ciety,” adding that “not everyone 
can take part in making decisions, 
but all ought to have the possibility 
of expressing themselves before de- 
cisions are made.” 

He said that by “gauging public 
opinioo, the center should help to 
optimize decision-making” 


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“Whether it actually helps," he 
said, “depends on those who make 
the decisions, which is their rightfn] 
and heavy responsibility, from 
which in the name of democratic 
socialism no one can release them.” 

Implicit in his response is the 
Communist position that the sub- 
jective views of the masses have to 
conform to the supposedly objec- 
tive laws of social and historical 
development as set forth in the 
methodology of Marxism- Lenin- 
ism. It remains, in theory if not 
fully in fact, the duty of the party to 
shape the attitudes of the masses. 

Still there is interest in discern- 
ing opinions. One source said the 
survey had shown Pope John Paul 
II to be the most popular figure in 
Poland, with an approval rate of 
more than 90 percent. He was fal- 
lowed by Lech Walesa, the Solidar- 
ity leader, with 24 percent; General 
Jaruzelski, 19 percent, and Cardi- 
nal Jozef Giemp, the Roman Cath- 
olic primate of Poland. 14 percent 

Like many aspects of public fife, 
the new approach to public opinion 

is a result of the trauma that Poland 
experienced at the height of the 
Solidarity movement in 1980-81. 

From the theoretical point of 
view of the Communist rulers, the 
demands of workers that spread 
from the Lenin shipyard in Gdansk 
reflected a “false consciousness" 
and led to a near paralysis of a 
party that in principle was govern- 
ing in the interest of the working 
class. 

Of more concrete importance to 
the government was that no one in 
authority had been able to predict 
tire scope of the upheaval. A poll by 
a higher party school in the sum- 
mer of 1980 said worker discontent 
was unlikely to ignite serious disor- 
ders. 

The security police have, of 
course, long maintained their own 
scrutiny of public opinion, moni- 
toring newspapers, tapping tele- 
phones and employing informers. 
But their objectives, as Colonel 
Kwiatkowski put it. have “been 
practical and limited.” 

He has described his agency as a 
“favored child of the government 
I who can irritate both its parent and 
society by repeating the dirty 
phrases it bears on the street.” 

The prevalence of such phrases, 
he added, is not surprising since 
“these days people speak sharply, 
in tones that brook no argument." 

His agency is charged with deter- 
mining as objectively as possible 
the attitudes of different segments 
of society on a variety of issues. 
The staff of 70 people has been j 
conducting surveys on such issues ■ 
as price increases, wages, w ork and j 
the popularity of Polish figures, us- j 
ing standard' sampling techniques) 
involving as many as L500 respon- • 
dents. • 



Wojdech Jaruzelski 

Colonel Kwiatkowski has won 
respect even from scholars associ- 
ated with the political opposition. 

“I think he is honest , 5 said Jad- 
wiga Stanigkis. a sociologist whose 
book, “Poland's Self- Limning Rev- 
olution." was published by Prince- 
ton University Press. “1 know he 
dismissed some employees who 
were falsifying responses." 

She and other scholars noted 
that the colonel had been attacked 
by hard-line elements in the Cen- 
tral Committee f or his reports and 
analysis, particularly one praising 
the creative role of the intelligen- 
tsia. 


eration, Thais Drive 

Back Into Cambodia 


• i .■ « ,rf in the battle against the Vietnanwe 
By William Branigin to* 10 WT VK, kiMsn incursion in Trot province, they 

Wathapm Putt Senuv tcmtOTY. . 

BANGKOK -Thai forces have Vfcuffltiicsc Yet the incurs** otbb* no 

driven intruding Vietnamese cess in Jr!£t the nieml- particular alum in Bangko k, igch 

troops back into Cambodia from will significantly af^Uhe p^ru- p*r ^ fear ^ worry that greeted 

thesoutheutem province of Trat If »PPl> « lu3Uon re,mins i^nivul.'f Vinruni* ln»p»« 

after a two-week operation using dear, however. the Thai*CamKHlun border six 

air -ritaatitaHod *>«*oa-*» 

troops, according to Thai military . uwed 

officSs. In the latest fighting, entrapd* 

The Thai military said Monday the area JtTuus have se? upTood sttads 

ihai ihe latt of up m UOO Via- to. S Sfonlo,*«.Thc*K« g ^ 

oamese troops who crossed the ®ndf °[ ^? m !“2?L 1 ESfdi !c hes to watch Thai artillery ffl ICtion 
border late last month and dug in totiM a hirnodf .ioiuimi thw Vietnamese entrenched 

_i :i_ / 1 & 


border late last monrn ana aug in ihe bor- 

about a mile ( 1.6 kilomeiers) inside fd “mefieUs paroJW to the 
Thailand were dislodged over the der farther north op^te the bm 
weekend. province of Prachinbun. 

.... xt t u According to Prase ng Soonsin, 

Vice Adnural Prasert Noikham- ^d^nSland’s National Secu- 
an said in the provincial capital of CoUndL & e Vietnamese have 
Trat lhaLsmce the Thai operation 90 000 IO 1 00,000 Cambodi- 

wrepd^nnamesebranhtoy to work on the defensive line 
4, eight Thai troops nod wen cinrv l*irp vcjt 
killed, 60 wounded and 70 stricken ln ^Thailand has been 

with malaria. showing prater self-confidence in 

So far. the bodies of eight Viet- {& ability to handle the border smi- 
namese soldiers have beat found ation, particularly Vietnamese far- 
on Thai terriiory, Admiral Prasert a ys into Thailand, Western and 
said. Thai officials said. 

The Vietnamese incursion re- Thai forces did not hesitate to 
fleeted Hanoi’s apparent determi- use U.S.-supplied fighter-bombers, 
nation to cut off infiltration routes heavy artillery and Thai marines m 

used by Cambodian guerrilla 

groups, notably the Communist , 

Khmer Rouge, to runnel guerrillas 7 Wounded in ft. I . Shooting 
and supplies into Cambodia to car- Vr»- York Ttmn serwt 

ry on a six-year-old war against the N£W YQRK _ 5 ^ per**® 
Vietnamese occupation of the ^ wunded Monday ofti by 

“"““y* gunfire on a busy sueci in China- 

The Thai response to the incur- town. Police said the shootings 
stem appeared to reflect an equal were on apparent outbreak of gang 
determination on the pan of Bang- warfare. 


4, eight Thai troops had been 
killed, 60 wounded and 70 stricken 
with malaria. 


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less the fear and w«ty that pwtod 
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INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


INSIGHTS 


While NASA Debates Its Goals, Europe Emerges as a Force in Space 


j 1 ESA Cultivates Image , Expertise 


By William J. Broad 

.V*w York Tima Service 



U.S. Keeps Mission Options Open 


Van Reeth. “Rightly or wrongly, they believe 
the saving of Europe will be done with high 
technology.” 

The ESA was established in 1975. Its member 


P ARIS a a ^ c , - .. „ , The ESA was established in 1975. Its member 

3 E 5 KSSS? SS&rfAE 

teLs-a jMsj=yfe-js 


own as a comnemnr m .hUi i c k'vo inU> 115 launching pad is at Kourou, Guiana, its control 

P«»iMn facility isiiDarmstadt in West Germany and 


in the launching of space satellites. 


&ion the ESA planst^uthoriMthe release of j““F ,dl “ Noordwifk in the Neth- 

ers use tieasenevvfA ^ pacest T j” PjfX" Its big success is Ariane, which now has a 
ere use the agency 5 Ariane rocket and the U.S. wn~,or rt „> i 9 , m ^h An- »iw for 

space shuttle to vie for riches in the heavens. 


Its big success is Ariane, which now has a 
backlog of 23 satellites to launch. One allure for 


“EoaceBoT t, 7 ■ ■ customers is that Ariane’s priced-launching is 

2Sh,E!iS £32Si2 expected to remain bdowWTdu; U.S. stfut- 


mimtrioc .1 . _p . . cxpecieu iti renuiiM nauw umi ui use w.j. auui- 

tourine the “Fim?* 0 ^ ie ^ A * U*. coI “Sj 1 { K “ tie, which is scheduled for a price increase to 
£22"“ Euro Space Game m eight Ian- ^ect its real operational costk 

6 tL. ... By charter, the ESA is not allowed to make 


j “ 1 LK I SEL fh P h,s m 13 allempls - “ S e ESA success has helped pave the way for a galaxy of 
for a , new Senerauon of more olher yen tines In January E&\ minStors ap- 


. ■ - - - . - , , . uuici TcuiuiD. in juuujki y mn m i n i s ters ap- 

powerful Anane rockets, a reusable maimed proved ^ i ncTyiy m the agency’s annual sci- 
g^ceshj). a European space station a new £ nce bud t OTer ^ nexffour years to SI60 
senes of satellites for Earth observation and mi iiinn from 5120 million In contrast, the sd- 


romm mu cations, and an ambitious expansion ^ budgcl for ^ c first decade remained level 
of its program for space science. >>. „..T- — n. 


It was a coup,” said Dr. Roger- Maurice 


The agency’s overall budget is scheduled to Bogtnet agent’s scientific' director. 


double in the next decade, while its new goals rw 
reach well into the next century. calioni 

Closer at hand, in July, ii plans to launch a son 0 f 


Despite the ESA’s array of science and appli- 
cations programs, the Europeans, said Dr. Edel- 
ron of NASA, spend only about one-sixlh as 


scientific probe toward a rendezvous with Hal- much ^ ±e Americans. who this year put S1.4 
ley s comeL an ambiuous quest that American bllIl0n mlo space science and applications, 
scientists are watching with envy. Friendlv rivalries aside, he added, cooperation 


In Washington, officials at (he National 
Aeronautics and Space Administration, al- 


Friendly rivalries aside, he added, cooperation 
between the two agencies has been extensive. 
-We admire, respect and encourage the ESA 


though quick to emphasize the United Stales s program ." Dr. Edelson said. “It’s an ad- 

und^uted status as a space superpower, ac- to us, especially to coDaboraie with 

know led ged that the ESA recently had emerged jy^^Ybae a gSdsdence all around.” 
as a mature force in the conquest of space. . _ . r , , 

“We no longer have a monopoly on the tech- A ^ lurn centu P r - h® 531 ^ the 

no logy," said Dr. Burton I. Edeison, NASA’s /\ Europeans are expected to have an ex- 
assodate administrator for space science and r~ 00 r®?™ rn J ss,on .* 0 


A 


the turn of the century, he said, the 
Europeans are expected to have an ex- 


applications. "They are getting the competence, ^ atuj n. The ESA probe is scheduled to leave the 
- - - 0 American craft and descend to Titan, a moon of 


capability and funding” 


In Paris. ESA officials make the point more the giant, ringed plane L 


forcibly. “We started out as the younger broth- . P 351 , ** helped them on their pro- 


er." said Geoige Van Reeth, director of admin- and tiey've hdpal us on ours.” Dr Edd- 
istration. “Now we are very much an equal 800 ^d- But this is the first time we ve started 



By Lee Dye Defease Initiative, a space-based nus^e de- 

dj Kee uyv fcnse “When people say space, they 

Lot Angela Times Semcc thinV NASA, but it ain't that way anymore. 

, space is becoming “primarily a mimao' P*** - 

1 0S ANGELES — When President John F. Representative George E. Brown 

Kennedy challenged the nation in May f T California Democrat. ”.As a policy >»u e - 
J 1961 to put a man on the moon and ^ s^d Mr. Brown, a physicist 

return him safely to Earth “before the decade u who sits on several science committees, 

out,” he left no doubt as to what the U.S. ^ Murray noted that the Reagan adnurns- 
mteion in space was all abouL . u^on is considering spending S25 billion for 

The challenge, as political as n was techno- on space defense compared with 58 

logical unified scientists, enginasre and polin- baKoil for c^Sttuction of a civilian space sta ; 
dans behind a specific goal and forged a muln- ti ^ no dvU program of that scale, 

bilbon-dollar U-S. space esublishoxaiL * 

Now, nearly a quaner of a century later, the T ^^tin NASA insist, however, 

space propnm remams pqpulm' in Congress, is dvUian space program is alive and well, 

wen financed compared with other government ^ ^Ttiie srace agency is on the 

programs, and operates the space shuttle, one of ^ ^ era that holds great 


1 0S ANGELES — When President John F. 
Kennedy challenged the nation in May 
J 1961 to put a man on the moon and 
return him safely to Earth “before the decade is 
out,” he left no doubt as to what the U.S. 
mission in space was all about 
The challenge, as political as it was techno- 
logical unified scientists, engineers and politi- 


cians behind a specific goal and forged a multi- 
billion-dollar U-S. mace establishment 


billion-dollar U-S. space establishment. 

Now, nearly a quaner of a century later, the 
space program remains popular in Congress, is 


thenK^ t mectacularpieces of 'edmology mr ^vax fMds. raigtag from pure 

devised. Unlike m the early days of the US. l0 ^ cmnmerdalization of space. 

S^^EF^^ ln " qd “ 5sUrc t^ren^sp^ 


goals it should adopt for the years ahead, the 
National Aeronautics and Space Administra- 


taope to use dectrophcresis equipment to sepa- 


It is a strategy that keeps the agency’s options 01 
open. NASA officials contend mat equipment pound focmakii 
such as a proven fleet of shuttles and an orating And “next y« 
space station, which now is entering the ad- science, said Jt 
vanced planning stage, will be required to meet aanle program 
such diverse goals as a manned mission to Mars Space Telescope 
or a permanent base on the tnoon. ““ e “J®* P 0 ®* 

1 But it also is a strategy that in the interim created by man. 
raises the question of what NASA really is 
accomplishing in space, and whether military 0 OME srii 
goals should take precedence over civilian space moon bast 

spending. L-I area for en 

“We don’t have a long-range goal in civil ere say that unn 
space;” said Brace Murray, former director of priority because 


of pure galhmn arsenide to sell at $500,000 a 
pound for malfing advanced computer chips. 

And “next year wiD be an incredible year for 
science," said Jesse Moore, bead of die space 
shuttle program, because of the la un c h ing of 
Space Telescope, which Mr. Known described as 
“the most powerful scientific instrument ever 


S OME scientists support a permanent 
moon base that could be used as a staging 
area for exploration of the universe. Oth- 
ers say that unmann ed probes should have top 
priority because they would return more data 


the Jet Propulsion Laboratory near Pasadena, for the dollar than manned expeditions. Still 
California. The agency has left itself with no , others say that the only reasonable goal is a 


agency has left itself with no . 

on the scale of the Apollo moon mission, ; manned mission to Mam 
id. leading to less public understanding of Robert Weed, p resident 


partner. In some fields we are a leader.” fr*?? scratc ^ 1 together. 

The next step in trans- Atlantic cooperation is 
A S demonstrated by “Spacego.” the Europe- the American Space Station, an S8-billioa ven- 
an Space Agency is carefully cultivating lure for the United States to which the ESA 
-L^-its ima ge as well as its technology- Over ministers voted in January to contribute 52 


mm 


JLJLits i fringe as well as its technology. Over ministers voted in January to contribute 52 
the years it has learned an important lesson billion. Known as Columbus, the ESA module 


The U.S. space shuttle, which has gone into space much less often than planned, 
faces strong competition from the European Space Agency’s Ariane rocket 


from NASA — that public enthusiasm for space will be a mann ed center for experiments in pure 
programs is vital to the creation of long-term science and space manufacturing. The plan is to 


public support. This simple truth is espoially have it orbiting (he Earth by the early 1990s. 
cogent for an ll-aation consortium ihat was According to Jacques Collet, the agency’s 


rely mainly on liquid hydrogen, the ultimate in 
fuel technology. The ESA ministers recently 
voted to spend more than S2 billion on its 


The ESA has come a long way since its Gist 
big setback. In 1980, the second flight of the 


Ariane ended in failure, and cynics confidently segment of NASA’s constituency. 


he said, .leading to less public understanding of Robert Weed, president erf the pi 
what it is trying to do. can Space Foundation, which wt 

Mr. Murray was among several scientists who support a vigorous U-S. space proj 
cited the absence of a major, easily understood believed that the American people 
goal for the civilian space program as one of the of NASA's objectives, thus robbir 
main causes of a trend toward military domi- of some of its support. Mr. Weed's 
nance of U.S. space efforts. Several top officials based group advocates a permanc 
in NASA privately concede that the scientific tion that would ming materi als on 
community is so divided over which course the use in spa c? projects, 
program should follow that the selection of a believe the nation that first 
single long-range goal would alienate a large —g between the Earth and th 


development. The first flight is scheduled for predicted that a European space service would 


tom by bureaucratic squabbles in its early days, head or long-Lerm planning, the Columbus 
The agency hopes mat the new era of high module was conceived long before President 


spirits will redouble its prestige, expertise and Ronald Reagan invited the Europeans in Jami- 
profits. According to the Center for Space Po- ary 1 984 to participate in the U.S. program. The 


1995. It would be powerful enough to loft whole 
pieces of a European space station. 

The spaceship is known as Hermes. Original- 
ly proposed by the French, it wfll be taken over 


us later, the 
’5 launching 


never get off the ground. Five years later, the T AST year Congress passed legislation ae- 
world is beating a path to the ESA’s launchin g I a rin g a commission to set the civilian 
pad. 1 — i space agenda, but it took neatly a year 

„ for President Ronald Reaitan to anooiiit the 
Wuh bigger rockets and the mastoy of extra- mcmbcrs ^ ^ m JST He mow last 


Robert Weed, president of the private Ameri- 
can Space Foundation, which was formed to 
support a vigorous UiL space program, said he 
believed that the American people were unsure 
of NASA's objectives, thus robbing the agency 
of some of its support. Mr. Weed’s Washington- 
based g roup advocates a permanent lunar sta- 
tion that would mine materials on the moon for 
use in space projects. 

“I believe the nation that Gist masters the 
space between the Earth and the moon wiD 
shape the culture of the human race for the next 
1,000 years," Mr. Weed said, “and we want the 
Bill of Rights and the Constitution to go with 
mankind as we leave the Earth." 

But Mr. Murray advocates a joint U-SL-Soviet 
mission to Mare. The circumstances, he said, 


licy. a research investment firm in Cambridge, idea was to build an autonomous European 
Massachusetts, the commercialization of space space station, an idea that still is being vigorous- 


program. The as an ESA project in the next few years, accord- , FKiTEm s^ncrhoD^To oavethe 01 “ He <Ud so mt tZet Zr 

ms European ing to Mr. ColleL Hermes is a sU reusable lt ^ ^ ** 


will be a S52 billion-a-year business by the end iy pursued. 

of this century. Europe wants in on the gold rush To reach this goal, the agency needs a power- 
and is well aware mat even “pure” scientific ful rocket booster and a manned spaceship with 


projects bring with them an array of industrial which to ferry European astronauts. Mr. Collet 


skills that are crucial for cashing in on space. 
“The idealistic view of science is being joined 

1... LL 1 1 1 : : - ” j 


said that studies for both were well under way. 
The big rocket is known as Ariane-5. Unlike 


by one from cold-blooded politicians.” said Mr. its less-powerful predecessors, the rocket will 


spa cep lane meant to fit atop the Ariane-5 boost- 
er. 

“By the end of die century," Mr. Collet said, 
“we are likely to have total autonomy in the 
field of manned space stations. It's a very excit- 
ing time for us. Two years ago nobody would 
have dreamed of actively pursuing this kind of 
program.” 


way r or turopean pn-emmcnce m me manuiac- cones up with recommendations, 

tune of commercial products rach as drags and ^ cotm ^ s , the rapidly growing military 
semiconductors. It envisions factories in orbit program has deaHy defined grails in sur- 

/\f nil itMntr LnmnMn nefmnniitc In r — Sr or j tr' 


semiconductors, it envisions iactones in oroii. space program has dearly defined goals in sur- enormous, positive efiect on 
Most of all. it wants European astronauts to ^3^ communications and weapons re- concerning unclear war," he ai 
lead the way m the commercialiMion of space. sauc}L our functions would have a f< 


The stakes are high. So is enthusiasm at the The good thing about *star wars' is they 


ESA. By all indications, the Europeans are in know what they are trying to do," said Mr. 


the game for keeps. 


Murray, referring to Mr. Reagan’s Strategic 


sometime in the next , century .” 

“An international mission would have an 
enormous, positive effect an people's morale 
concerning nuclear war,” be added. “And all of 
our functions would have a focus. It’s the one 
thing that would provide a solution to a terres- 
trial problem. It amid prove that we can work 
together on a long-term bass.” 


U.S. Trats’: More Brutal, Less Tolerated 


The Heritage 


By Anne C. Roark 

Lea Angela Tana Service 



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P ALO ALTO, California — On the na- 
tion's college campuses, the return to the 
1950s — the hairstyles, the politics, the 
boozing — is in full swing. But at many colleges, 
the doors may be dosing on the institution that 
for most people epitomizes a conservative cam- 
pus lifestyle, the fraternity house. 

Armed with new charges of sexism, racism 
and even criminal activities, a number of univer- 
sities from Harvard, in Massachusetts, 10 the 
University erf California at Berkdey have begun 
to re-evaluate and, in many cases, ban, all-male, 
predominantly white social dubs from their 
campuses. 

Stanford, in Palo Atlo, is the latest major 
university to question the continued existence of 
fraternities, often called Greek societies because 
their names are created from combinations of 
Greek alphabet letters. 

While the “troubles we are having here are 
somewhat unique," said James Lyons, Stan- 
ford’s dean of student affairs, “in many ways 
they are representative of what I expect may 
become a national trend of the 1980s.” 

Like other colleges that have taken action in 
one way or another against such groups during 
the last year or so, Stanford is considering 
severely restricting or even eliminating all fra- 
ternity houses from campus, not just the isolat- 
ed problem fraternity. 

The reason is that the traditions of fraternities 
— secrecy, exdusivity and bouts of debauchery 
— have finally come into conflict not only with 
the goals of the university but with the values of 
the larger society. 

On many campuses, administrators report, 
there has been a recent rise in complaints about 
wild drinking parties and the abuse of under- 
classmen in dangerous initiation pranks, as well 
as harassment of women and minorities. 

The pranks are “not unlike what we have seen 
for years." said a counselor at the University of 
California at Los Angeles, “only now they seem 
much more serious, much more vicious." 

The troubles facing fraternities are coming 
just as the popularity of these groups is reaching 
an all-time nigh. According to Jonathan J. 
Brant, executive director of (he National Inter- 
fraternity Conference in Indianapolis, member- 
ship in all-male Greek societies is 250,000, com- 
pared with 150,000 in the early 1970s and 
125,000 in the early 1960s. 

Run-ins between fraternity members and col- 
lege administrators are nothing new; they date 
back nearly as far as the founding of the organi- 
zations in the early 19th century. 

Between the 1940s and the 1960s, individual 
chapters of many fraternities broke ranks either 
temporarily or permanently with national orga- 
nizations over the admission of blacks. 

During the Vietnam War era. student apathy 
toward most traditional collegiate organizations 
also cut into fraternity numbers. Whflei new 
chapters continued to be established, particular- 
ly in the South and West, membership in indi- 
vidual houses across the United States dropped 
by more than 30 percent from 1965 to 1972. 

Educators now see a fundamental shift in 
attitudes toward selective, all-male social orga- 
nizations. 

“There is something about the white male, 
'group mentality* that turns nice guys into 
jerks," said Diana Conklin, director erf Stan- 
ford’s fraternal housing system. 

“And there is something about the 1980s,” 
added Su Uhland, a Stanford graduate student. 


“that doesn’t allow us to pm up with it any 
longer." 

Fraternity members themselves argue that 
their organizations continue to promote such 
wholesome, old-fashioned values as “brother- 
hood” and “friendship," “freedom of choice” 
an d “commitment to common goals,” to say 
. nothing of the connections they have with influ- 
ential, weH-beded alumni 

Many universities are not buying those argu^- 
ments any longer. 

• Last year, a Harvard University committee 
recommended that the college sever all lies with 
nine exclusive social dubs that refuse to break 
their 200-year-old tradition of not adm itting 
women. Toe invitation-only clubs at Harvard 


pipes have been demolished and students have 
bem “roughed up” during wiki parties. 

In one home, the police confiscated dozens of 
pieces of furniture allegedly stolen from die 
university. At other homes, a frequent after- 
noon pastime has been to sit on die roofs and 
either toss bicycles to the ground or comment 
loudly on the anatomy of female passers-by. 


Administrators say fraternity 
pranks are becoming vicious. 
There is something about the 


after a student from Mills College m nearby 
Oakland was thrown into a paid, and two 
students seeking admission to lire fraternity, one 
of them legally Wind, were found bound and 
fac&down in a horse corral filled with manure. 

Ms. Conklin noted that none of the campus’s 
minority fraternities have had any serious prob- 
lems. The oily difficulty caused by any of the 
sororities was in 1979 when a group of women 
disrupted tire Bbrary by bursting into song. 

Stanford officials say tite issue of women's 
rights provided.tbe impetus for reassessing the 
role of fraternities. 

Using a new federal anti-sex-discrimination 


white male, group mentality 
that turns nice guys into 
jerks,’ said Diana Conklin, 
director of Stanford’s 
fraternal housing system. 


had never been affiliated with national organi- 
zations, although they dale back even further 
than national fraternities, to 1791. 

Rather than change their policies, the dubs 
themselves decided in December to cut their ties 

with the university. 

• At the University erf California at Berkeley, 
relations between fraternities and minority 
groups became so tense that the chancellor 
stepped in and impose. stiff restrictions on the 
Greeks, even though none of the organizations 
are boused on university property. 

• At Dartmouth College m Hanover, New 
Hampshire, the faculty voted to dose the frater- 
nal system after numerous excesses were nation- 
ally publicized. Althongh the Dartmouth gov- 
erning board did not go along with tbe faculty 
recommendation, the university has tried to 
persuade its fraternities to improve their stan- 
dards of behavior. 

• At Colby Collide in Waienrille, Maine, fra- 
ternities and sororines were expelled last sp ring 
after a long court battle on tbe grounds that they 
were discriminatory and harmful, to campus 
social life. 

• At Amherst College in Amherst, Massachu- 
setts, the trustees voted to ban fraternities be- 
cause of complaints of vandalism, sexism arid 
anti-intellectual behavior. Fraternity , members 
reacted by chanting obscenities, throwing food 
in the dining hale and hanging the college' 
president in tffigy. 

In some cases, fraternity activities have 
turned deadhr. The morning after an 


a handful of Stanford female students went to ~ 
tire administration a deride ago to complain 
that while men were allowed to live in fraterni- 
ties, women were not permitted to form their 
own social groups cm campus. 

Sororities had been banned at Stanford in 
1944 at the urging of advisers who said the 
romped tion tojoin than wa&vidoas. The Board 
of Trustees officially reinstated sororities in •• 
1977, but the organ Battens do not have their 
own residences oncampus, as ,!2 of tbe fratemi- ■■ 
ties do. . 

This has earned tbe university administration '. 
to question whether Inequalities exist when itjf 
cranes to providing; student housm&i Stanford ? 


■:% .-*?:■ 

••fe 


$ , 


palm trees and law Medheiianean-style^ budd- 
ings with red-tiled roofs, has a student residence 
problem. 

With room fra rally about 88 percent of the 
student body.on campus, the university is forced 
to hold an annual room draw. Unlucky students 
may fin d them selves in mobile homes on cam- 
pus or, worse yet, thrust into the tight, over- 


ly of. Palo Alto. - ■ 

This is not the case with most fraternity 
members, who are housed in some erf the prime 


alcohol in his blood than is considered legally 
intoxicated in that state, according to tbe medi- 
cal examiner’s ruling. . 

Ac Stanford there have been no nragiwWm 
although the university has lad its share of 
problems. Furniture has been broken, water 


When similar housing issues have been raised 
at other colleges, the fraternities usually have 
won the right to remain on campus, according to 
officials at several national fraternity organiza- 
tions. Universities’ administrators have had to 
contend, with the. fact that Greek houses on V 
many campuses are theproperty of the fraterni- 
ty, not the university. 

At Stanford, where many of the fraternities 
own thorown booses but not the land on which ' 
they are built, the university administration set 
up a campus-wide task force in the faH of 1983 
to determine what should be done about the 
rioiation. 

. Tlie 1 8-membet committee rdeased' a series 
of reepnunendatipns that stopped short erf call- 
ing for the abolition of fraternities. But some £ 
task force members said that their proposals : * 
essentialty imdercui the essence oC the sdrotive 
fratenml system; . . . - * 

. The committee said thar no- group should V 
bave the right to exclude members from campus - 
housing snffifly on thebasisar*snb}ectiveiudfr ■ 
meats; and that “all frateitialgrOups, whetber * 
^Urina te. aH-female or ootid, should have equal '• 
access to umverstiyTesoarces.” . 



if 







EVTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


Page 9 


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3fy Kingdom for a Supporting Cast 


By Sheridan JMoricy 

International Herald Tribune 

ONDON — It is good to have Robin 
bad: in this country from a decade irf'G 


He is back, moreover, a! Chichester, wherthe was 
an actor in Sr Laurence Ofivier’s opening season a 
quarter of a century ago. Few directors knowmore 
about that open stage, and fewer stffl have the 
ability (like ua late George Cukor) to draw ex- 
tremely strong performances out of female stars 
often known for lighter wodc. 


about the schizoid nature of nostalgia. If you can 
imagine a musical cobbled together on a wet after- 
noon by Marcel Proust and Luigi Pirandello with a 
little help from the Berlins, Irving and Isaiah, 
you'll have some idea of the scale on which it has 
been concaved. 


Old ladies are shadowed on stage by the ghostly 


dancers they once were, while a banal central ^lot 


The problem, however, with his new “Antony 
and Cleopatra’' is precisely the problem .that crip- 


THE BRITISH STAGE 


pled the Patrick Garland- Alec Guinness “Mer- 
chant'’ at Chichester last season: an apparent in- 
ability to tempt to Sussex for the summer a 
cast of even minimal Shakespearian 


Thus we have fore three h 
central performances (Diana Rigg as 
Denis QuBey as Antony and Norman Rodway as 
the finest Enobarbus I have ever seen) hedged 
about by a cast many of whom seem only just to 
have left drama school, and some not yet to have 
gone than. 

Against the chilly sted screens of Daphne 
Dare’s hi-tech sets this is 3lso a heavily cm and 
remarkably passionless production.- so tlatQuilley 
and Rigg seem often much dbser to the Macbeths 
they once gave os at the Vk than to the two great 
lovers of the known world. They are exctfleni at 
suggesting the way to the tomb, not so good at 
reminding ns what got them together in 
dines. 


about two of the chorus girls having married hus- 
bands destined for each other is surrounded on all 
sides by one of the most brilliant scores even 
Sondheim has ever conceived, one that manages to 
recall three entire generations of Broadway musi- 
cal writing while simultaneously celebrating and 
parodying tire very essence of big band shows. 

The fact that u Follies H has never worked com- 
mercially is. 1 suspect, due to the problem that 
after intermission there is virtually no plot of any 
kind, just a succession of dazzling production 
^numbera. Butburied in ashow that takes over from 
where “Gypsy* left off are some of the greatest 
anthems to showbiz survival and marital loathing 
that you will ever hear, a cast led by Mazy Millar 
and Josephine Blake and the veteran Clnli Rou- 
drier do great justice to this musical about the 
death of the musical 

□ 


But both speak some of the most lyrically mov- 
ing of all Shakespeare's verse whh wonderfnl reso- 
nance, and if they and- Rodway could now just 
start master classes for the rest of the < 
then maybe next year we'd at last get a 
Shakespeare of reasonable confidence. 

O 


In the Royal Shakespeare Company's Barbican 
Fit, Robert Holman’s Today” is a rambling and 
diffuse but touching and uniquely haunting 
play about two Cambridge undergraduates of tire 
early 1920s who later go off to fight, and in one 
case die, for the anti-Franco brigades of the Span- 
ish Civil War. By contrasting thar backgrounds of 
wealth and poverty, their sexual preferences for 
boys and gins and the lost worlds for which they 
can be seen to have stood and fought, the author 
has achieved a remarkable tapestry of British life 
in the W. H. Auden generation between the wars. 

There were moments when I thought “Today” 


(which is, of course, about yesterday) would have 
‘ etterasanoveL Bu 


All oedit to Howard Lloyd-Lewis and his Man- 
chester library company for giving as, at the 
Wythenshawe Forum until eariy June, the Europe-' 
an premiere of Stephen Sondheim’s “Fottes” fully 
IS years after it was first seen on Broadway. At 
that time it ran almost a year and lost ahnost a 
million dollars, a paradox that becomes under- 
standable only when you see the current produc- 
tion. For “Foures” is quite literally a f oily, but one 
of remarkable interest to anyone who cares even 
remotely about the Broadway musical or Sond- 
heim. - «■’ ’ 

It derives from an eariier unprodneed Sondheim 
show, “The Girls Upstairs/ and a newspaper 
photograph that showed Gloria^Swansan standing 
amid the bulldozers in the wreckage ot a Broadway 
theater where sire had once worked as a chorus gjn. 

From that random beginning Sondheim and the 
writer of his book, James GtMnan. have patched 
together a broken-backed and oddly unfinished 
but nonetheless fascinating account of a group of 
old Zi^feld Follies gilts craning together 30 or 40 
years post ihwr prime io a reunion party in their 
old thdater, one on the verge of bemg tom down in 
the name of Broadway redeydopmeni. 

Architecturally and musically this i& a show 


worked very much better as a novel But then we’d 
have missed such hugely intriguing performances 
as that of Jim Hopper as a Communist ventrilo- 
quist from the dying Yorkshire music halls who 
finds himself near to dying an altogether different 
and non-showbiz death in a field hospital. 

Then again there’s PoDy James, with whom we 
end the play in 1946, a wonderfully eccentric 
millionaire aunt of the Margaret Rutherford vari- 
ety who has seen it all and now realty wants only to 
mend lawn mowers. 

They ai least aren’t unfaithful or gay or killed or 
-deprived or unemployed or redolent of a Cam- 
bridge generation very few of whom survived two 
wars in anything like their original physical or 
mental or moral shape. 

Somewhere in this poetic, lyrical survey of mid- 
ceninry class structure and war and sex and social- 
ism is a period piece of considerable power and 
truth, and Bill Alexander’s immensely strong stu- 


dio production manages to enconqjass a gallery of 

lymg Ucr- 


15 cross-sectional characters, from a dying 
"• ~ * “ ’ ’yprenionitio! 

Yorkshire hospital 


man soldier in Spain haunted by premratitibns of 


World War n to a child in a 
discovering Charles Dickens. 

The jigsaw doesn’t always quite fit, but its indi- 
vidual pieces are lovingly and thoughtfully carved 
out of a period of *3Qs confusion all too seldom 
considered by Holman’s generation of 30-year- 
olds. 


Esa-Pekka Salonen: Fast Tempo in Baton Track 


By Barbara Bell 

P I ARIS — The hot young con- 
ductor on the international mu- 
sical scene is a cool 26-year-old 
Finn who rejoices in the liltii^g 
name Esa-Pekka Salonen. You ei- 
ther know that name or you don’t, 
but once you have said it to your- 
self, it tends to repeat ilsdf in your 
head Bke a chant or a nursay 
rhyme. And you’ll recognize it 
when you notice it again in music 
reviews and concert listings from 
around the world. 

Salonen, who came to Paris on 
short notice to conduct Anton 
Bruckner's Sixth Symphony with 
the Orchestra National de France 
,a Brock- 
' a cen- 
tury his senior, the ailing, 82-year- . 
old Engen Jochum), is traveling 
fast and far. He has also con ducted 
in the past month in Washington, 
Minneapolis, Stockholm and Lon- 
don. 

In Stockholm, he has been the 
principal conductor of the Swedish 
Radio Symphony Orchestra since 
January. And in London, the Phil' . 
bannonia Orchestra him its 
principal guest conductor shortly 
after anmnw ‘'jump-in concert,” as 



Since then, Salonen has conduct- 
ed as far from F inlan d as Perth. 
Australia, and his schedule extends 
as far forward as a proposed tour of 
Japan with the Philarmonia in the 
1989-90 musical season. Up to now 
he has made only one recording, of 
Russian music,’ including Tchai- 
kovsky’s 1812 Overture, with the 
Bayerische Rundfunk Orchestra 
for Philips, but he says he is about 
to sign * contract with CBS for ”12 
or 15 records in four years’ time," 
most of than with the PhiUnr- 

monia Orchestra and some with the 

Swedish Radio Symphony Orches- 
tra. 

After repeating the Bruckner 
Sixth concert with the Orchestic 
National de France Untight and 


saty for marketing purposes to cre- 
ate them, even artificially if 
necessary, and that says something 
bad about the position of the arts in 
v. When 


our society. When orchestras need 
new names in order to keep audi- 
ence interest, that means they need 
help.” 

Salonen, younger by several 
years than even such young col- 
leagues as Simon Rattle, now 30. 
and Rictardo ChaiBy. 32. reflects 
in many ways the style, commit- 
ments and concerns of his genera- 
tion. 


Thursday in Strasbourg, and Sanir- 
in Vienna, Salonen goes to 


day 


•“Sump-ini 

Salonen rails them, thrust him into 


the international spotlight in Sep- 
tember 1983. 

It was one of those legendary 
make-or-break situations. Salonen, 
whose perforating experience was 
limited to three years of playing 
French horn in Furnish orchestras 
(from age 15 to 18) and conducting 
only as far from home as neighbor- 
ing Sweden, was suddenly asked by 
the Philharmonia if he could con- 
duct Gustav Mahler’s Third Sym- 
phony in London on five days’ no- 
tice: 

Remembering his predicament, 
the quiet, apparently unflappable 
young mam smil es. 

“1 said, Tt sounds interesting,’ 
and then I went to a music library ' 
to look up the score because I had 
never seen it before. It was massive 
and impressive, but I thought, well 
it’s worai a try. And then I began to 
study. I didn’t sleep that much for 
the next five days,” he adds in a 
tone of understatemenL 

As he lowered his baton after the 
Mahler Third, Salonen's career 
tempo accelerated dramatically. 
Backstage before a rehearsal at 
Paris’s Salle Pleyel he recalls: “Im- 
mediately afterward, the Philhar- 
monia offered me a couple of con- 
certs. Then the next day I got both 
a caB from the director of the Edin- 
burgh Festival asking if I could do 
two concerts with the Philhar monia 
there and a visit from the executive 
director of the Los Angeles Phil- 
harmonic asking me Lo come to Los 
Angeles to conduct that orchestra.” 


Stockholm for a concert and back 
to London to record trumpet con- 
certos with the Philhar monia and 
the American trumpeter Wynton 
Marsalis for CBS. 

His summer schedule includes 
appearances at the Hollywood 
Bowl with the Los Angeles Philhar- 
monic, at Tanglewood with the 
Boston Symphony and in London 
in the Proms series. 

He himself s observes that the 
speed of his rise "On the internation- 
al musical scene “says something” 
about the cultural situation in the 
Western world, and be doesn’t 
mean something good. 

“There is this desperate need for 
new names, sensations and genius- 
es,” be says. “It’s absolutely neces- 


At rehearsals, he wears jeans and 
short-sleeved T-shirts. And with his 
slight build (5 feet 7 1/2 inches and 
132 pounds: 1.71 meters and 60 
kilograms) and longish. light 
brown hair he can caaly be mistak- 
en for a stagehand. 

Two-way communication with 
orchestras is important to him: “I 
don’t represent the old kind of 
maestro. For me. it is essential and 
necessary that 1 can cooperate and 
not only categorically demand.” 

Salonen also composes. Compo- 
sition was his original goal in mu- 
sic, and he speaks longingly of tak- 
ing some time off in a future year to 
devote to iL Too busy now to write 
anything longf?. be is at work on a 
“very tiny piano piece, in hotel 



Conductor Salonen: A boost from Mahler. 


rooms, airports and planes, more 
‘ ’ v then anything 


"Mary’ lo Be Pulled in Italy 

United Press international 

ROME — Jean-Luc Godard’s 
controversial film “Je vous salne 
Marie” (Hail Mary), about a mod- 
ern-day Virgin Mary figure, will be 
withdrawn from Italian theaters 
June 2, the movie's Italian distribu- 
tor announced Tuesday. 


therapy and hobby 
else.” that will be performed in 
September by a friend, the Finnish 
pianist II mo RanUL 

Technical aspects of conducting 
are easy for him, he says, compared 
with questions of musical analysis 
and interpretation. 

Bruckner has always been one of 
his favorite composers but, be 


points out “I don't perform all the 
Maza 


composers I love.” Mozart, Haydn 
and Brahms he conducts infre- 


quently, feeling that their works are 
ireali 


played too often in mediocre ways. 
“There is no reason to play Mozart 


if it isn’t superb. There is already a 
quantity or performances. Whai Is 
needed is quality and new ideas 
and new analysis, and ir I don't fed 
that 1 am able to offer that. 1 had 
better waiL” 

He adds: “It is sometimes very 
difficult in this profession to know 
what is tradition, what are vour 
own ideas and what are onlv bad 
habits.” 

Salonen has recently begun to 
conduct Beethoven again after a 
waiting period. “I performed a lot 
of his music when I started as a 
conductor. 1 didn't realize then that 
it was difficult.” he says, smiling at 
the memory of his naive youngfr 
self. 

Does he ever imagine himself as 


a conductor at JivhumV jue. past 
SO? 

“Sometimes, yea.” he answers 
hesitantly. "But you know, the 
global situation is politically %o 
problematic now. I ttunk it's \er> 
common for people of niv genera- 
tion not to think about things W) 
years ahead. We have io solve 'these 
problems first.” 

Salonen, who conducted a pro- 
peace. anti-nuclear- weapons con- 
cert in Stockholm last fall and says 
be is available for further such per- 
formances, states his belief simply : 
“A good artist works always for 
peace.” 


Barbara Bell is a Puns -bast'd 
journalist . 


DOONESBURY 



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Page 10 


advertisement 


INTERNATIONA^ HERALD TRIBUNE, WEDNESDAY, WAY 22, 1985 


advertisement 


Free Annual Reports 


North American Companies 


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 report(s) will be sent to you by the individual companies. 


ALLIED 

CORPORATION 


Allied Corporation was formed in 1920 and is one of the 
thirty companies in the Dow Jones Industrial Average. 
Allied is a diversified manufacturer of products which are 

sold in a range of 




— • - 

• 




- I 

*V**'«e 

t A • 

- 

* " 1 » " 

& 

£ 3 

v | 

B ‘ *6 

t w.. 

‘ i 

‘ -4.' 
- ^ 

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industries worldwide. The 
company's businesses me 
grouped in five sectors.- 
Aerospace, Automotive, 
Chemical, Industrial and 
Technology and Oil and 
Gas. Allied's common 
stock is listed on the 
Amsterdam, Frankfurt, 
London, Basel, Geneva 
and Zurich stock 
exchanges, and will be 
listing on the Paris 
exchange. 


BRUSH 

WELLMAN, INC. 


The world's leading manufacturer of beryllium materials 
achieved another record year in 1 984. Net income gained 
62%, while worldwide safes climbed 31% to $3225 million. 
Earnings per share increased to $220 from $1 .39 in 1983. 

Over the past five 
years, the Company has 


«• r« 


S? 


WtUSN. 



years, the Company has 
achieved a compound 
growth rate of 15.9% in 
net income per share 
and 14.9% in sales of its 
engineered materials. 
The Company continues 
to maintain a con- 
servative balance sheet, 
with a debt to total 
capitalization ratio of 
only 12%. 

3 


MASCO 

CORPORATION 


“A Unique Growth Company” 

MASCO CORPORATION, a unique growth company with 
leadership market positions, has reported 28 
CONSECUTIVE YEARS OF EARNINGS INCREASES. 

Masco manufactures 
faucets and other 
building - related 
products and other 
specialty products for 
the home and family. 
Send for our 184 
Annual Report to learn 
why, we believe, 
Masco's earnings will 
continue to grow at an 
average annual rate 
of 15 to 20 percent 
over the next five 


Nil'll t HT. 


TRITON ENERGY 
CORPORATION 


NYSE: OIL 


The flogs on fhe cover identify the countries where the Company has 
high potential exploration acreage. Current exploration activities 
are conducted in the United Slates, Canada, Australia the United 

Kingdom, The Netherlands 


- 

— - 



1 

"I*. . 

* * 







- 

— 

□ 


sectors of the North Sea, 
France, Colombia, New 
Zealand and Thailand. 

The Company's proved oil 
and gas reserves increased in 
value by 92 percent, from 
$99 million on May 31, 1983 
to $190 million on May 31, 
1984. Net oil production from 
France b currently 100,000 
barrels per month. 

The April 26, 1985 market 
value of securities held by 
Triton in its subsidiaries, 
affiliates and other oil 
companies was $38.00 per 
share compared with a New 
York Stock. Exchange price of 


American Can 


American Can has dramatically restructured its business 
mix for income growth. Today, the company has three 
major business sectors: Financial Services, which posted a 

21% income 


AMERICAN 

EXPRESS 





gam over 
1983; newly 
streamlined 
Specialty Re- 
tailing, up 
50%; and 
Packaging, 
up 12%. 
Earnings per 
share in- 
creased to 
$4.90 from 
$3.75 for 
1983. Reve- 
nues were 
$4.21 billion, 
up from 
$4.08 billion. 


American Express reported record earnings of $610 
million for 1984, an 18% increase over 1983. Hs businesses 
include Charge Cards, Travelers Cheques, travel, 

international and 


AMETEK (NYSE-PSE) ame 



investment banking, 
brokerage, personal 
financier! planning 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'd sales topped one-half billion doNari for the finf 
time last year, and profits increased 13 % to o record $427 

million, producing a return 
on equity of 24.3% cad 
maintaining the steady up- 
ward curve of earnings 
which began back in the 
1970‘s. AMETEK's annual 
report focuses on new 
product * electr onic air- 
craft instruments, under- 
sea robot work titoma- 
rines, DC motors for the 
computer market, water 
filters and new m edical in- 


strumentation. 


CSX 

Corporation 


W.R. GRACE & CO. GROW GROUP, INC 


CSX Corporation, the notions leading transportation and 
natural resources company, completed 1984 with an all-time 
record income of $465 million. Assets reached $1 1.6 billion 
and revenue $7.9 billion. CSX received approval to control 

American Commercial 
Lines and became the first 
U.S. transportation 
company to provide rail- 
barge-truck integrated 
One-Stop Shipping 501 for 
its customers. 

CSX closed 1984 in a 
strong financial and 
physical position. The 
company will accelerate 
its aggressive marketing 
strategies for continued 


Grace is the world’s largest specialty chemical company and 
ranks 53rd on the Fortune 500 with sales of $67 billon in 
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. 


CSX 


CORPORATION 


Emphasis today is on raw 
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? 


Grow Group, Inc. has grown from 15 mtllian in sales to 
over 275 million, paid 83 consecutive quarterly cash 
dividends. A stockholder purchasing 100 shores m 1965 
would own 400 shares today. The Corporation is one of the 
nations largest producers of specialty chemical coalings 
and paints for toe marine, automotive, industrial, and 

construction 
markets. Grow is 
developing a 
patented safe 
technology for 
dispensing prod- 
uct* under pres? 
sure through its. 
Enviro-Spray 
Systems, Inc sub- 
sidiary, and a 
patented system 
for fully cooked 
chicken by its 
Thermal jet, Ltd._- 
subsidiary. „ 



MASCO 

INDUSTRIES 

“A Competitive Edge” 


NOVA, AN ALBERTA 
CORPORATION 


NYNEX 


MASC^INpl'STRn&: 


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 learn 
why we befieve Masco 
Industries earnings can 
attain well above- 
average future growth. 




■ ■■ < •-.\-vVUt rfrVuR r /I 
— — - * 

rtrtrtt- 




NOVA is a major Canadian energy company 
headquartered in Calgary. Assets at year-end 1984 were 
$6.4 billion. Revenues for toe year totalled $3.8 bilDon, and 
net income (after extraordinary items) was $203 million. 

■PPIPV jW The Company is active in 
several industry sectors: 
Natural gas transportation 
***£$¥ and marketing, petroleum 
** *??: (through 67% owned Hus- 

ky Oil Ltd), petrochemi- 
cals, manufacturing, con- 
sulting and research. 
NOVA's Alberta system 
transports aver 75% of 
■ Canada s marketed natu- 

:***• ^ rQ l gas production. 

The NOVA compa nie s em- 


NYNEX is a new company focused on toe Information Age. 
NYNEX provides telecommunications services through New 
England Telephone and New York Telephone, markets busi- 
ness information sys- 
tems, provides mobile 
phone service, and pub- 
lishes telephone direc- 
tories. NYNEX is a fast- 




If pk>y about 7,800 people. 


growing company in a 
burgeoning industry. 

For more information, 
write: 

NYNEX Annua) Report, 
20th Floor, 

335 Madison Avenue, 
New York, N.Y. 10017. 


MAIL COUPON TO: 


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INTERNATIONAL HERALD TRIBUNE 
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.Statistics Index 


JteraliSEribune. 


'AMEX prkai P-.1S Eondnu report* fot 
AMEX bigbS/bwsPJS Htng rote «jtes F* 15 
HY55 «4C* P.n GaU nxtets P.TI 
HYSE MohsAsM P M Merest rates Pji 
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Cummer rates P.n Ortons pu 

ConsnodMes P.M OTC Stock p.n 
\ WoWends P.M omer marfMC P.n 
i» 


BUSINESS /FINANCE 


U.S. Stocks 
Report, Page 12 


WEDNESDAY, MAY 22, 1985 


** 


Page 11 


tiles 


INTERNATIONAL MANAGHt 


Management by the Book: 
Europeans Join a Trend 


By SHERRY BUCHANAN 


Key U.K. 
Economic 
Index Falls 


arg^. 


P 


ulv is 



Iniemaiional Herald Tribune 

ARIS — Reading about bow to be die moist powerful, the 
most successful, the most efficient the best dressed and 
the highest paid has appealed to U.S. businessmen for 
more than a riarari?. . 

But European executives have risen to the bait only in the past 
few yean. According to their pobHdws in Europe, most UR. 
best-seffing management books lately have been setting 10 times 
as many copies or more than what publishers consider is a 
reasonably good sale. 

According to Paul R. Chapman, nwwagmg director of Harper 
& Row Ltd-, 4,000 hardback copies sold is a“reasonable’’ sale for 
a management book in Britain; a book that sells 10,000 to 15,000 
hardback copies is considered . - ' ' • 


Roam 


Europe has been 
catching up 
in die 'how-to’ 
book sales boom. 







very successful. According to 
the French publisher, Le 
Semi, 5,000 to 9, 000 copies is a 
good sale in France. 

“In Search of Excellence,” 
by Thomas Peters and Robert 
Waterman (Harper & Row), is 
perhaps the leading example 
of a transplanted UR. success 

story. The book, which describes its dunces as the 10 best-run 
. companies in the United States,hassdd 100,000 copies in Britain 
: >uii, . „ and 65,000 quality-paperback comes in France since it was 
^ dolbs (a v published m 1983. 

" co ' > c t to a regu. In addition, WiTTiam Collies Sons & Co. sold 305,000 hardback 

L - and paperback copies in Europe and the Commonwealth of “Tbe 
One Minute Manager,” by Kenneth Blanchard and Spencer 
Johnson. Coffins also sold 40,000 hardback copies of “Putting the 
One Minute Manager to Work,” by Kenneth Blanchar d and 
Robert L. Lorber. 

Both bocks report the secrets of the effective one-minute 
manager by describing, in simple hmgnay one-tninate goal 
setting, one- minute praises and one-mmnte l e piiraa nds- 


miii,0n Podudn,^ 
or - of ■ 


began r . 

AMEiai*. 

foaTa t .' 

-c»i 'nit-fmen r _ ; 
rebel v*trl 

• DC Tofri i, * 


A"; 


N OTHER success story, “What They Don’t Teach You at 
Harvard Business School,” by Mark McCormack (Wil- 
liam Coffins), has sold 85^000 hardback copies in Europe 
and Commonwealth countries since it was published last Septem- 
ber. The book gives tips on business strategies rial purportedly 
make “anyone's professional life more successful” 

“For many yean there was never the interest in Britain there 



f GROUP, 




•Y> 



h, publisher ot W 

has published, among other U-S. bestsellers, “The One Minute 
Manager." 

“It is partly because of the pressure of a different outlook that 
1 says you have to get up and fight as an individual if you want to 
get on,” he said. 

Some publishers believe the sndderi interest in management 
, books in Europe surfaced after “In Search of Excellence” was 
published in 1982 in Britain. 

Since then, British and French publishers have started buying 
the rights of UR. best-selling management books. Le Senfl, for 
: instance, published this year a UR. best-seller from 1970, “Fur- 
ther Up The Organization,” by Robert Townsend (Alfred A. 
Knopf Inc.). 

Unlike earlier UR. management books published in Europe^ 
“In Search of Excellence” became a sort of fad, a phenomenon 
difficult to achieve given the difference in languages and cultures. 

“I very rarely read management books,” said Angela. Heyfin, 
chief executive of Charles Barker Lyons, the London-based 
public relations firm, because they usually contain “a lot of very 

■ i 1 « n. ru. 


-\~e ■ 






n;.r 


obvious stuS just reworked." Mrs. Heyfin finally read “In Searth 

of Excellence!” because colleagues and social acquaintances kept 


asking her what she thought of it. 

Because there are no readers' surveys of best-seffing UR. 
management books in Europe, it is difficult to establish a profile 
of who actually reads them. 

But even without such data, it is apparent that European 
(Coatfanfit oo Page 13, Col 6) ' 



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' 1 month 7 W Ok 

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3 moeRn 7TW 

4 months ■ 8IMV1 

1 year 8hr«'H. 



ECU SDR 
MK-iOK..- MMi » 
W5W-UK. JIMli 7a 
TUth-ISTW. TIW9* 7% 
WRrM tk . VU-Mfc S 
11 MMr OKrOkk VA 


Sources: Morgan Guaranty (dtUor. DM. SF. Pound, FFH Lloyds Bank (ECU}; Routers 
(SDR/. Rates anpflCDW to (nTrrtxin* daoaslts af 17 mUUan minimum {oreaulvoleot}. 


R«y M*aey Bates May 21 


iwua snap 
■ EHscooMRoto 
1 Fodarai Poods 

prune am* 

, Broker Loom Roto 
Cent PoparM'UTdBrt- 
MfiOtllTreCBWV BUIS 
1 MMoHi Treasury BWi 
CD* 3058 days 
CBViMJOOT* 


One ftrev. 

7» 7Vi 

m n 

w u 

9 9 

7*5 7 M 

13b 732 

732 73} 

132 733 

73S 735 


y. wm Germany 
X Lombard Rots 
t owenMMROM 


ns 


c mows intortm* 
\ hnonh hdeiboflk 


&S0 SM 
15D * US 
5J5 580 

SJO 5SS 
US 5J0 


NO 


iMerwollM Ran unk IBVk 

Cod Money ION IBM. 

Oocmoalh iniyrbodb. Hl/14 WVU 

hMriti latertwok HHb TIM 

MNotb hitertMak 10 U 


\ -- 


V* 


. Brttnta 

► Book BOH Roll tza 

, con Money . 12» wo 

tr-ooy Treason Bin 12 mm 

UnooWi iBlorboak WM 1» 


,rtl use 


. iobcoBBtnoio 
/ f Can Money . 


. tfOoy UdarbaM . 


- 5 
5 urn. 
w 


- . S’ 

4 

Mk 


j/ ■ Sources; Raoers. Cemmermxc CrtdU 
' > Lveneea.Umidt Book. Bans at Tana. ■ 






As*m P bDir P efo sHB 

• MarSl 

imoniB - m. 7W 

2nwlbi . . .7W-7M. . 

I muuUu . 7 * 1-8 
4 months nb-BVb. 

1 rear . Bik-Bew 

Source: Routers. ‘ 


PA Mw w ey Fawte 

MaySl 

*»emu Lynch Ready- Anns 
Mdavavnraaoyjcid : .&80 
Teierote Interest Rato index: 7J» 


Source: Merrill Lynch. AP 


CoU 


May 21 

-pal ar*n 


■ 311.15 «4JS — 732 
-71430' — . — UD 

lOMkRoSMo* -71143' .. -U2 
Wrtrt 3ISAS'.. SUSS — 7JB 

tiWOon . . - . 314SI t, 3MJ8. . 

New York . — "317.18 +1M 


Luxembourg, Paris and London otiicW ft*- 
. Moat Hens dong ana Zurfcn apmmo and 

analog ortene.- Hew York Cemex current 

oortroct Ad prices in us. seer ounce. 
Source: Reuters. * 




the earlier exceptionally high'levels 
the office sau. 


of credit, the 1 


To help offset such erratic move- 

iLuei 


meats, the office is now looking at 
die credit series over a period of 
four months, rather than three. 

The index of coincident indica- 
tors has been broadly fiat since 
about the fourth quarter of 1984, 
further confusing the picture. 

hr Parliament, Prime Minister 
Margaret Thatcher said Tuesday 
that British inflation is expected to 
fall bade to just over 5 percent by 
the end of this year. In April, prices 
were up at an annual rate of 69 
percent from the previous April . 

The Treasury has predicted that 
retail price infiation Trill average 5 
percent in the final quarter of 1985; 


Dollar Eases 
Lower After 
Sharp Rally 


Compiled by Our Siaff From Dbpauhex 

' NEW YORK— The dollar rose 
sharply in New York trading Tues- 
day following the release of UR. 
economic data before drifting 
down to end slightly loner on the 


da^GoId and silver were higher. 


_ the contrary fashion that has 
typified its recent movements, the 
currency rose sharply following the 
government’s downward revision 

act to ^T^pmtentTln a matter of 
minutes, trader said, it traded up to 
3.095 Deutsche marks from 3.05 
before faffing back. 

Traders said the dollar’s strength 
in the face of the weak economic 
performance was a bullish sign for 
the currency and demonstrated 
that f orago-corrency markets ware 
focusing on the prospects of stron- 
ger growth incoming quarters. 

Carmine Rotondo, chief trailer 
at Manufacturers Hanover Trust, 
said Europeans believe that even at 
its sluggish growth rate; the U.S. 
economy wiD still outpace Europe- 
an growth. 

Timothy Summerfield, chief 
trader at Qmtinental IQmots Inter- 
national, said, “From an economic 
point of view, some of the bad news 
for the dollar has been discounted 
and it is trying to find a base.” 

In London, the British pound 
slipped to S12722 from $1-2830 
late Monday. Later in New York, 
sterling was quoted at SI2755 
against S12745 late Monday. . 

In other late European trading, 
the U.S. currency rose in Paris to 
9321 French francs from 9-241 the 
day before; to 3-053 Deutsche 
marks from 3.0328 00 Monday, 
and to 23975 Swiss francs from 
23455. 

Dollar rates in New York as of 4 
PJWL, compared with late rates 
Monday, included: 3.0610 Deut- 
sche marks, down from 3D675; 
23710 Swiss francs, down from 
2.5850; 9.3400 French francs, 
down from 93450; and 1,959 lira, 
unchanged. 


0.7% April Drop 

Was Mi Straight 


LONDON — The index used to 
signal future trends in the British 
economy feD seven-tenths of a per- 
centage point in April, the fourth 

J _ 


consecutive monthly decline, the 
tistical 


Office said 


Central Statistic 
Tuesday. 

The index of longer leading eco- 
nomic indicators, designed to show 
turning paints in economic activity 
about cme year in advance, was set 
at a preliminary 103.7 (base 1980) 
in April, compared with a revised 
104.4 in Marek 

The office said it is still too early 
to say whether tins is a signal of a 
slowdown in activity next year. The 
fall Largely reflected the perfor- 
mance of stock prices during the 
month, government sources said. 

High interest rates also served to 
depress the index in recent months. 

Although business confidence, 
measured by the Confederation of 
British Industry, increased in the 


first quarter, this may have been 
1 fa 


the result of seasonal factors, they 

aHfWI 

The index of shorter leading eco- 
nomic indicators, designed to show 
turning points in activity about six 
months in advance, was little 
rfumgwf in A pril , at 101 against 
101-2 in Manffi. 

The bureau add the recent pro- 
file of the shorter leading index has 
been largely influenced by the con- 
smner-erttfit component. 

The recovery in the index previ- 
ously seen is no longer apparent, 
mainly because of a retreat from 


Digging for Profit in Brazil’s Jungle 


Mining Company 
Succeeds Under 
State Ownership 


By Alan Riding 

New York Tones Semce 

RIO DE JANEIRO — It 
seemed to be a recipe for disas- 
ter: A state-owned company in a 
financially squeezed, developing 
nation embarks on & huge iron' 
ore export project when demand 
for metals is turn Wing world- 
wide. 

“So what are we dong enter- 
ing an industry that is in deca- 
dence?" asked Eliezer Batista, 
president of BrazQ’s Companhia 
Vale do Rio Doce, adding cheer- 
fully: “That is some question 
when you're spending S4 bfl- 
Kon." 

Pan of the answer is easy. The 
Carajas iron ore reserves in 
northern Brazil are not just the 
world’s largest, they are of such 
high grade and can be exploited 
so cheaply that the company is 
confident of staying profitable 
through the worst slump. And 
there is another reason. These 
days, when Brazil and most other 
nations find they must subsidize 
state companies, Rio Doce is 


a model for govern- 
ment-run corporations. It makes 
money. 

The Cany"2s project was con- 
caved in the late 1970s princi- 
pally as a dollar earner to help 
pay off Brazil's foreign debt, 
wmch is now 5103 billion, the 
largest in the Third World. The 
project was not taken chi lightly. 
- Rio Doce’s management ana- 
lyzed the prospects for iron ore 
and steel worldwide over the 
next 20 yean before developing 
the mine itself, along with a 550- 
mile (800-kOometer) railroad to 
a new port facility. The project's 
cost — partly financed by bor- 
rowing abroad — came in under 
, budget, Mr. Batista said. 

The Carajfis project is just be- 
ginning to add millions of tons of 
export capacity at a time when 
Brazil is emerging as the biggest 
single source of iron ore for the 
industrial world. Japan is the 
largest market for Rio Doce's 
ore, taking about 33 percent of 
its 683 mOHoa tons exported in 
1984. Other important buyers 
are West Germany, Italy, Spain 
and the United States. 

In an economy dominated by 
such giant state enterprises as 
Petrobriis in oil, Eletrobris in 
electricity and Siderbras in steel. 



the New Tori Tana 

Eliezer Batista, head of Rio Doce, and nzadmoes af work 
at die company's mining project in northern Brazil 


Rio Doce has somehow managed 
to shield itself from the usual 
political interference, “We've 
had a combination of luck and 
recognition by the government 
of the company’s special role,” 
Mr. Batista said 

That recognition also extends 
to Mr. Batista, who. say officials 
and businessmen here, is respon- 
sible for much of Rio Doce's 
efficiency. In fact, in March, 
when a civilian government took 
office after 21 years of military 
rule, be was the only head of a 
state company to be confirmed 
in his position. 

A 61-year-old engineer with a 
self-effacing sense of humor, Mr. 
Batista has transformed Rio 


Doce since he took over six years 
ago- Then it had 27,000 employ- 
ees and was barely in the black. 
Today, it is a bigger operation, 
but with only 20,000 workers — 
a reduction achieved largely 
through layoffs and the dosing 
of some subsidiaries. Last year 
profits were 5920 million on rev- 
enue of 523 billion. In 1979. 
earnings were only 536 million 
on revenue of about S1.7 billion. 
Rio Doce cannot afford bad 
management. Mr. Batista said, 
“because we’re competing, not 
with Gabon or Angola, but with 
Australia, Sweden and Canada.” 

He is less marter-of-fact about 
what he calls “the system," 

(Continued on Page 13, Col 6) 


leahn to Mount 
|446-M0Uon Bid 
For Rest of TWA 


The Associated Press 
NEW YORK — Carl C. leahn. 
whose investment group already 
owns about 25 percent of the stock 
in Trans World Airlines Inc., said 


Tuesday that the group is offering 
$446 million for the rest. 


about . 


The leahn group is offering SIS 
in cash for each of the shares his 


group does not already own. TWA 
about" 


has about 33 million shares of com- 
mon stock oustanding. 

TWA, which previously filed suit 
seeking to block the leahn group 
from increasing its stake in the air- 
line, had no immediate comment 
on the proposal. 

Mr. leahn. a New York financier 
and arbitrager, said he told the 
TWA board in a letter that he 
hoped a merger could be completed 
“on a friendly basis," but was “con- 
cerned by the actions recently tak- 
en against him by TWA" The air- 
line has asked the Transportation 
Department to assess Mr. Icahn’s 
fitness to nm an airline. 

But he said his group had taken 
steps to begin soliciting stockhold- 
ers' consent to replace the TWA 
directors with a board that would 
permit shareholders to vole on his 
proposal if the current board re- 
fused to allow such a vote. 

TWA's stock closed at S17 a 
share on the New York Stock Ex- 
change. unchanged from Monday. 

Mr. leahn disclosed May 9 in a 
filing with the Securities and Ex- 
change Commission that he and a 

K ot companies he controls 
xpiired about 203 percent of 
TWA’s st ode and that the group 
might seek control of the airline. 
Several days later, the group said it 
had boosted its stake to 23 percent 
Late last Friday, Mr. Icahn dis- 
closed that his group had increased 
its stake to 83 million shares, or 
about 25 potent of TWA’s out- 
standing stock, and said it might 
seek control of the airline. 

TWA has filed lawsuits in feder- 
al court in New York and a state 
court in Missouri, where TWA has 
sizeable operations, charging the 
Icahn group with violating securi- 
ties laws in accumulating its TWA 
holdings. 

The lawsuits charge that Mr. 
Icahn failed to disclose his inten- 
tion to lake over the airline and 
that he planned to liquidate certain 
parts of the airline's operation to 
raise money for other investments. 


TWA is seeking an injunction 

preventing Mr. Icahn from buying 

more of the airline's stock and an 
order requiring his group to sdl the 
stock it has already acquired. 

!□ his letter Tuesday to the TWA 
board, Mr. Icahn said his ACF In- 
dustries Inc. and others of his com- 
panies would contribute about 
5400 million of the cash needed to 
acquire TWA 

David Veaz. director of corpo- 
rate communications for TWA. 
said, “We are aware of the propos- 
al, but we just don’t have anything 
to say yet." 

TWA, which was spun off from 
Transworld Corp. m February 
1984. derives about 58 percent of 
its revenue from domestic air ser- 
vice and 42 percent from its service 
in Europe. It hod a profit of S29.9 
million on revenue of 53.66 billion 
in 1984. 


Unocal Stock 
Tumbles After 
Pickens Pullout 


ViuteJ Frets Intcmitunul 

NEW YORK — Unocal 
Corp- stock dropped shaiply 
Tuesday following the with- 
drawal by T. Boone Pickens Jr. 
of his hostile takeover bid for 
the Los Angeles oil company. 

Analysis estimated that Mr. 
Pickens, the chairman of Mesa 
Petroleum Co., and his Mesa 
Partners 11 investors group 
could lose about SSO million on 
their Sl.l-biUion quest to seize 
control of Unocal. 

“Pickens is out of action for a 
while." said .Anthony Ludovici. 
senior investment analyst at 
Tucker. Anthony. “His settle- 
ment with Unocal will hinder 
him on future takeovers until he 
gets rid of his Unocal stock." 

Unocal stock opened lower 
Tuesday. By midafternoou. it 
had tumbled 510.25 to 535.75. 
Mesa Petroleum stock was off 
51 at 515.38. 

Analysts had expected Uno- 
cal’s stock to plummet when 
trading resumed because the 
company saddled itself with an 
additional 5554 million in debt 
to buy off Mr. Pickens. 


New Fund Targets Firms Linked to China Trade 

Western Investors Are Getting a Chance to Gamble on Development 


By Paul Lewis 

New York Tima Service 

PARIS — A French brokerage 
house and a British investment 
bank have come up with a new way 
for Western investors to share in 
the planned development of C hina, 
the world's biggest single market 
with almost one billion consumers. 

They are joining forces to estab- 
lish the first investment fund tar- 
geted at foreign companies that are 
expected to profit from China's 
growing appetite for imports as it 
develops its economic potential 

“We can’t invest in Chinese 
shares, but we can invest in compa- 
nies that mil profit from China's 
need for modem technology during 
the rest of this century,” explained 
Robert Fleming & Co.’s Paris- 
based representative, Sanmnra 
Tiodmig&m, who is credited with 
inventing the plan. 

Robert Fleming, the big London 
investment house, will handle the 
fund’s Far Eastern investment 
strategy, while Tuffier A Ravier, a 
French brokerage, will be in charge 
of investment in Europe and the 
United States. 

The food is being marketed in 
the United States by Interfinance, 
an association of six French stock- 
brokers that seeks to interest Amer- 
ican investors in French securities 
and owns a 10-percent stake of Mo- 
- selcy, HaUgarten, Esiabrook & 

' Weeden Inc* £be New York bro- 
kerage house. 

The new Chinese stock market, 
which the Beijing authorities have 
promised to set up in Shanghai to 
help local comjnmes raise capital, 
is not functioning yet And even 
when it does get going, some ex- 
perts think, the securities traded 
there wtfl be mainly bonds, not 

equities. 


steady opening of the and which are already dotn§ “con- by the Chinese government, m- 
HLomy to Western, capi- siderable business” with China. creasing its sales prospects in Chi- 


The political assumption behind 
the fund, Mrs. Tioulong-Sam said, 
is that China will continue its cur- 
rent policy of modernizing its econ- 
omy through large imports of plant 
and equipment and that this will 
lead to a 

Chinese economy to Western, capi 
talist influences. 

In February, a Chinese official 
Fang Weizhong, deputy state plan- 
ning minister, tola a meeting of 
Western business leadens at Davos, 
Switzerland, that the government’s 
plans for quadrupling economic 
output by the end of the century 
caused it to import 51 billion of 


motorcycle and truck orders from 
China, and the Yokogawa Hoku- 
shin Electric Corp. and the Shi- 
madzu Corp., two companies spe- 
cializing in automated factories 
and material handling equipment 


second-largest foreign trading part- 
ner, Thierry Tuffier, a partner in 
Robert Fleming, points to Conic, 
the colony’s largest manufacturer 
of consumer electronic products, 
which is already 34 percent owned 


In Hong Kong, which is China’s na. 


Western technology last year. This 
sure will be higher. 


year’s figure win 
In order to finance this economic 
expansion and the additional im- 
ports it needs, China is prepared to 
borrow abroad, Mr. Fang said 
Initially, the fund plans to invest 
about 80 percent of its assets in 
Asian companies, situated in Ja- 
pan, Hong Kong, Singapore and 
elsewhere, that are expected to ben- 
efit most from China’s need for 
imports. The remainder will be in- 
vested in European and United 
States companies with substantial 
opportunities in China. 

Although Japan is China's larg- 


est supgier of foreign goods, pro- 


viding 

last year, Mrs. Tioulong-Sam said, 
the challenge is to find Japanese 
companies whose stock prices are 
likely to reflect their trade with 

flhin*- 

Among the companies die likes 
are the Knmagai Chum Co., a Japa- 
nese construction company with a 
joint venture in China; Isuzu Mo- 
tors Ltd, which has substantial 


LA COMPAGNIE MAROCAINE 
DE CREDIT ET DE BANQUE 
CMCB 

HAVE CHANGED THEIR NAME 


THEY ARE NOW CALLED 


WAEABANK 



WMABANK 


r= CHARTER =n 


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in ft. 12 ; 


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Mediterranean Cruises Led. 

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TeL: 3236494. Tlx.: 222288. 


iffilAPMAN 


MANAGED 

COMMODITY ACCOUNTS. 


PERFORMANCE 
RESULTS FOR 
COMPTREND1I 


BEGINNING EQUITIES 
OF $100,000 
ON JANUARY 1 
OF EACH YEAR 


yietded the toScwwing 
after all charges' 


IN 1980: +165% 
IN 1981: +137% 
M 1982: +32% 
IN 1983: — 24% 
IN 1984: — 34% 

08 Of 

MAY 16, 1985 
EQUITY 
STOOD AT 
U.S. $86,883.90 


Call or write Royafl Fraser at 
WPHMA1. Trend Analysis and 
Portfolio ManagemenUnc.. 
wan Street Plaza. New Ybrk. 
New Mxh 10005 21Z-Z6&-1041 
Telex BMI 6671 73 UW 


other financial mstihitrem o have al- 
ready invested about 40 million 
francs, (about $43 mflfion) in the 
new fund called Cambon Chine 
2000. The fund went on rale to the 
public Friday. 


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Page 12 


INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


**■ 


NYSE Most Actives 


Signal 

VM. High Low 

19357 41 % 40 * 

’ LOU 

40 ft 

Cb*- 

— % 

AT&T 

1 S 2 B 4 24 % 

23 * 

36 


PhiiaEl 

16410 Uft 

15 % 

15 % 


EsFCods 

IM 44 * 

43 ft 

Oft 

+ * 

HeurfPk 

M 280 36 

34 

36 * 

—lft 

Mobil 

13779 31 * 

a 

31 


DamRs 

12504 22 * 

31 * 

32 % 

-f AM 

AmExp 

13419 65 * 

4 S% 

45 * 


Sdilmb 

13099 (Oft 

40 

40 ft 



12933 6 % 

6 % 

6 % 


All Rich 
IBM 

I 22 S 5 41 % 
12150 133 * 

12106 a 

61 

UZ% 

19 % 

61 ft 

ia 

T 9 ft 

+ to 


11718 16 % 

Mft 

16 * 


wstaE 

11290 349 k 

34 

34 ft 



Dow Jones Averages 


Open Ktoti Law Last Of. 


Indus 1 X 5.00 131 &JH 129709 1307.5 + 4 J 2 

Trw 62673 63171 619.49 62672 — 077 

Util 16 H 0 16 S -21 162-24 16157 — 1.13 

Comp 53525 539.37 5307 * BUS + 027 


NYSE index 


ComposMe 
Indus) rials 
Troop. 
Uimiln 
Finance 


Htab Low dose Cfoe 
109.71 10927 10965 -007 
12SJ0 12400 12425 +007 
10226 HI53 102. IE +027 
5182 5347 5800 —022 
11922 11199 11704 — US 


Dow Jones Bond Averages 


Close 


I Bonds 
I utilities 
Industrials 


cji» 

7729 + 0 A 

7447 —555 

7701 +CL20 


NYSE Diaries 


Close Prw. 


Advanced 
Declined 
Unchanged 
Total issues 
New Highs 
New Lows 


731 

BIB 


Volume up 

Volume down 


2063 

232 

W 

54.936670 

59427570 


1280 

430 

3 SS 

2065 

454 

7 


I Odd-Lot Trading In N.Y. 


Mario 
•MOV 17 
Marls 
Maris 
MayM 


•included in the sale? figures 


Bor Safes *56 vi 

265,618 567500 I 486 

I 9&274 46 S 03 D 1.729 

136391 409.382 2.1 IS 

J 81 S 48 443657 1820 

W 1844 4 JJ 412 1774 


Tuesdays 

N 1 SE 

dosing 


Votof <FJM_ 


tawsMoei 
Musaoee ) 


Prey.4PJW.voL- 
Prey coriolieaTet! dose TTkSBMi 


Tables include the nationwide prices 
up to the closing on Wall Street ond 
do not reflect tote trades elsewhere. 

Via The Associaud Press 


17 Month 
High Law Stock 


Sh. 

IMS HiBtl Law 


Close 

Quel. Qi'ge 


A 


^ * v ii s ! 5 £ & ia:s 

211 ? IJ* AMF JO 24 54 10 S 2 19 ^ to 

2 TO |E£ ESSof 2.18 107 ^ ™ 

23 19 AN Rot 2.12 107 

14 * 7 * APL 

AS* 44 % ASA 240 46 

27 14 to AVX J 3 2.1 12 316 

24 % 16 _ AZP 272 117 _ 

- — ..... -- 21 *, + to 


If* 19 * 19 %. 

8 ft 39 V Bft + to 

50 * 49 ft SIH + % 

,5% 14% 15* + * 

7 5771 24 % 24 24 * 

54 % 36 % AM Lab 140 24 16 1061 54 % 0 % S»— % 
ss»i 17 AccoWd s 44 24 17 647 » 


40 29 
720 61 » 
1720117 
72 24 7 
J 3 t 68 18 


.12 


264 


543 el 04 
170 15 14 
23 

170 27 13 
60 24 12 
23 


20% 12% AemeC 
10% 7% AaneE 
17% 15 Ada EH 
20 11% AdmMI 

19% 8% AdvSre 
41% 25% AMD 
12% 6% Advest 

14% 3% Aortic* 

46% 27% AetnLf 
58% 52% AdtLPf 
3A 15% Ahmna 
3% 2% Alleen 
53% 38% AlrPrd 
24% 13 AlrbFrt 
2 I AIMOO s 
33% 26% AlaP PtA 372 124 
8 6 AlaPdPf 47 11.1 

76 61% AkiP pt 940 114 

81 63% AlaP of 944 114 

71 57 AlaPpf B.14 114 

68% 56 AlaPpf 878 174 

16% 11 AlaUSCS 144 67 

22% 9% AlSfcAIr .14 4 

14 *. 10 % Alhrlos — 

33% 22% Albfsns 

31% 23% Alcan 

36% 27% AlcoStd 170 34 12 

32 17 AlexAFx 140 14 

26% 20% Alexdr 20 

89% 71 Alls Co 2461 26 34 

2S% 23 AJoCppf 246 111 

23% 18% A lOlitt 100 5J 

20 IS* Atglnpf 119 117 

93% 31 Aigl pfC1175 117 

33% 24% AlhiPvr 270 12 10 

20% 15% AltanG 60b 37 14 
46% 23% AlldCP 140 63 8 

66 ssn AldCapt 674 126 

113% 9V AldCppfOJJO 114 
107% 100% AkJCpt 1271*117 
23% 13% AIMPd 16 

59% 38 AlldStr 212 34 B 

12% 5% AJIfcCh 

34% 24 AllsCpf 

27% 70 ALLTL 144 64 9 

39% 29% Alcoa 170 

15% Amax 70 


I 2 S 14 % U M 

21 8 7 % % 

138 17 % 17 17 % — ft 

5 16 % 14 % 14 % + % 
._ 19 11 % IT. 11 — * 

13 2977 29 % 28 * 29 — % 
17 134 9 % 9 % 9 % + % 

12 343 13 % 13 % 12 % + % 
54 33 3187 44 45 % 45 % — % 


56 — % 


76 

170 

170 


22 20 
23 14 


47 B a 

34 % 

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1115 73 ft 72 ft 73 ft— ft 
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NYSE Prices Finish Mixed 



United Press International 

NEW YORK — Prices on ihe New York 
Stock Exchange closed mixed in active trading 
Tuesday. 

The Dow Jones Industrial average finished 
up 4.82 to 1 . 309 . 70 . but declining slocks topped 
advancing ones by an 8-7 ratio. Volume totaled 
130.2 million, down from 146.3 million Mon- 
dav. 

Some analysis said the market would consoli- 
date at the new levels and move sharply higher 
before the summer ends. Others said the market 
mav already have achieved its highs. 

“The most optimistic view is that the market 
is adjusting its gains.” said Philip Erlanger of 
AdvesL Inc., Hartford, Connecticut. He cited 
“peculiar fundamentals." including a subdued 
0 . 7 -percent gross national product growth in 
the first quarter, as reason for caution. 

“One has to wonder whether this level is a top 
for the market.” Mr. Erlanger said. ”lt may be 
that all the market has done is widen its trading 


range. 


Cash levels in institutional portfolios remain 
low relative to the beginning of the bull market 
in 1982 . Mr. Erlanger maintained. He said in- 
vestors with money locked into high-yielding 
bonds may prove reluctant to remove it from 
those instruments to risk it in a stock market at 
its highs. 

“We are in the process of seeing whether the 
gains will be extended" said Ham ViUec of 
Sutro Co.. Palo .Alio. California. He said the 
market was hesitating before the resumption of 
its upward trend. 

“Now that the market has broken through 
1.300. it probably will not go immediately to 
1.400." Mr. VUlec said 


When the Dow moves into the area between 
1.330 and 1340 . sellers will push it back to its 
previous high, near 1 385 , to test support at that 
level, Mr. Villec said. The market will then 
bounce and move above 1323 before the sum- 
mer is over, he said adding that it could move as 
high as 1300 before the year is over. 

Before the market opened, the Commerce 
Department reported that U.S. gross national 
product expanded at a revised seasonally ad- 
justed annual rate of 0.7 percent in the' first 
quarter after adjustment for inflation. 

The growth rate was the smallest since the 
fourth quarter of 1982 *s 0 . 5 -percent rate, a: the 
beginning of the economic recovery. 

“The measurement showed economic activity 
almost stalled in the first quarter of 1985 ." said 
Robert Parry, an economist at Security Pacific 
Corp. He said the Federal Reserve's recent 
efforts to bolster tbe economy by holding down 
interest rates “are likely to result in faster 
growth in the interest-rale sensitive sectors of 
die economy, particularly in housing." 

On the trading floor. Signal Cos. was the 
most active NYSE-listed issue, off : i to 40 's. 

AT&T followed off 4 to 24 . The company 
announced new products for its universal ser- 
vices. 

Philadelphia Electric was third, off -6 to 15 V 

Dominion Resources was up 3 * to 324 . 

Mesa Petroleum was off 1 to 15 ? «. An inves- 
tor group led by the company's chairman. T. 
Boone Pickens, has reached a' settlement with 
Unocal Corp. under which the Pickens group 
could sustain a loss estimated to be between S "5 
million and S 130 million. 

Unocal was the biggest loser, off 10 '* to 35 


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8 ft 4 % 
W% 35 ft 
70 ft 9 
13 % 10 ft 
25 % 14 ft 
31 ft £ 5 ft 
41 ft 43 
4 % 3 % 

30 21 ft 
27 % 9 ft 
5ft 1% 
22 ft 15 ft 
40 ft 28 
21 % 1 9 ft 
32 % 29 
26 % 13 
29 % 22 % 
45 ft 26 ft 
40 % 23 % 
40 ft 27 % 
19 ft 13 % 
19 15 ft 
21 ft 14 % 
58 % 23 
58 % 35 
7 % 6 ft 
51 % 44 ft 
10 % 12 % 
66 ft 48 ft 
20ft 12ft 
9 ft 2 ft 
15 5 % 


BolseC pf 50 O 86 111 

Boltfler .10 6 30 115 

Borden 3.04 4.1 10 489 

Baron ml 22 

BargWo .92 40 10 2369 


Bormns 
BasEd 374 80 
BasEpr T.17 11.1 
BasEpr 166 117 
Borne fr 72 37 


19 
141 
45 
24 
2540 

1 

8 

179 
272 
173 

172 5.9 21 1173 
3.12 77 8 82 


160 

1J 


56 11 
XI 17 

14 

10Qe 6J 7 


Brig 51 
BrMM 
BrilLnd 
Brlfft 
BritTsp 
Brock 
Brcfcwv 
BkvUG 

BkUG pf 267 I0J 
BkUGPf 395 IZI 
BwnSh 70 S 9 
BrwnGo 176 40 16 
BrwnF 108 26 16 
Bmwk 100 27 8 
Bl-sItWS 68 16 15 
Bundy 00 41 0 

BunkrH 216 I1J 
BurlnCt 13 

Burllnd 164 60 76 
BrlNtfi 160 26 I 
BrlNopf 05 7.9 
BrlNef 5J6C110 
Bumdy 04 5.9 13 
Burrgh 260 19 12 2106 
Btlflrln 02 20621 397 
Buttes 324 

Buies Of 210 447 283 


3 

14 

23 

434 

570 

1300 

453 

29 

27 

59 

636 

2496 

8 

854 

59 


56% 55ft 
28% £8ft 
74 72ft 
36% 36ft 
22% 22ft 
6% 6% 
40ft 40% 
10ft 10% 
13% 13 
ZZ% 22 
28% 27% 
41ft 60ft 
4% 4% 
27ft 27% 
20ft 19ft 
2ft 2% 
22 % 21 ft 
40ft 40% 
23ft 23ft 
32% 32ft 
21 % 21 
20ft 29ft 
45% 44% 
36% 36ft 
34 33 

17 16% 

19ft 18ft 
1V% 19 
27ft 27 
57% 57 
7 6% 

50ft 50ft 
14ft 13ft 
66ft 65% 
10ft 17ft 
2ft 2% 
6 4ft 


56ft + % 
23% 

74 + % 

34% 

22% + ft 
6 ft + ft 
40ft— ft 

low + ft 

13 — % 
22 % + % 
28% + % 
41 ft 

4%— ft 
27%— ft 

2ft 

22% + ft 
40ft + % 
23ft 

32% + ft 
21ft— ft 
28ft + % 
45 + ft 

34% + ft 
33ft- ft 
16%— ft 
19ft + % 

it — * 

27% — ft 
57ft + % 
7 +ft 

50V5 

14ft 

46 ft + ft 
18ft +1 
2% — % 
4%— lft 



24 

CBI In 

100a X7 

13 

488 26* 

24 

122 

68* 

CBS 

300 17 

IV 

1367 111* 

09% 

8% 

4to 

CCX 


10 

92 6% 

6% 

55* 

77 

CIGNA 

240 40 

10 

3127 S7Vk 

55% 

32% 

£3% 

ClG pf 

ITS 8J 


242 32% 

31* 

7ft 

4to 

CLC 



85 4U 

4* 

St% 

21* 

CNA Fn 


15 

267 50* 

SO 

llto 

Eft 

CNA1 

lTOalB.9 


29 11% 

10% 

44* 

34 W 

CPC Int 

120 50 

11 

1028 63* 

42* 

a* 

14% 

CP Ntl 

100 67 

9 

127 22ft 

a% 

20ft 

19% 

CRIIFUII 

207e 90 


259 21% 

20* 

1 7% 

18% 

csx 

1.16 45 

9 

3543 26% 

25* 

40* 

24 

CTS 

100 19 


37 34* 

34U 

12% 

7% 

C3 Inc 


30 

7B 9 

m 

33* 

22% 

Cabot 

92 IS 

» 

535 26* 

26% 

14U 

a* 

Caesar 


16 

1223 13% 

13% 

a 

11% 

Cal Fed 

08 12 

0 

1862 a 

21% 


24ft + ft 


4% 

50ft- ft 


» + ft 


2 S 57 S 


n 


49ft 32% CalFdef 475 97 
21ft 13ft Gallhn TSb 1 7 

18% lift Catnrnl .12 .9 

38 15% CRLkfl 60 

Oft 3ft CmpRo .161 

14ft 10% CpRpfg 200 
73% 54% CamSp 250 36 
45ft 28ft CdPocg 160 
14ft 14ft CdPocwt 
21% 14% ConPEg 00 

223 141 CadCita 70 21 

27ft 15 CrxiHds 71 20 11 

107ft 100ft CopH pf 1OJ7elQ0 
14% io Coring g 60 

40% 24ft Carlisle 102 29 10 

26% 15ft Coro Ft 60 17 11 

2*ft 19% CarPw 260 90 7 

24ft 19ft CarPpf 267 100 

48 35ft CarTec 2.10 5J 10 

lift 7ft Carrol 07 0 12 

44ft 30% CarsPIr 170 27 8 

20% 18% CartHw 173 47 11 

35ft 19% CartWl 02 15 13 

18% 9ft CascNG 170 66 9 

l«ft 9ft CastICk 
29 15% CstICgf 110 

44ft 28ft CafrpT J0 16 

27% 16 Coen 74 XI 12 

102% 62% Colons* 460 47 10 

41% 34 Colon of 400 100 

15 7ft Cengvn 04 6 27 

42% 33ft Cenlel 238 5J 9 

26ft 17 Cades n 11 

25 17 CenSoW 202 87 7 

20ft 17ft CenHud 284 121 6 

43ft 36 CniLtPf 450 1Q5 

19% 14% CnllPS 164 86 10 

25% 17% OlLoEl 208 80 7 

35ft 29ft CLaEI pf 4.18 121 

lift 8% CeMPw 160 146 5 

19 13 CVtPS 1.90 107 5 

12ft 2Tfc Can trot 

11% 7% CntrvTl 00 77 8 
23ft 18% Cenvlil 260 n.l 9 
27ft 15% CrMcad It 17 15 
84ft 16ft CrasAIr 60 21 16 

.24% 16ft CMlTOln 60 1.7 

27ft 19 Ctimlpf 170 46 

54 43 % CMml pf 460 80 

10 B Cham 5a 60 47 12 

4ft I VlChriC 

lft % wlOlt wt 
4ft lft vlChrfpf 
*0% 35ft Chase 370 «7 6 
47ft 36ft Chase Pf 57S 116 
57% 48 Chase pf *03el 10 
57ft 51 Chase Dfl 240*236 
21% 14ft Chelsea .72 36 9 
34% 24ft Chemed 103 57 13 

43ft 23ft CnmNY 248 54 7 

42ft 23ft QlNY pf 107 47 

57% 48 CIlNYPt 6530116 

39ft 31% Chespk 174 30 10 

38% 31 W ChesPn ~ ~ 

38ft 29% Chewm 
30% 16ft CNWst 
200 127 CNMlw 

80% 53ft ChIMIpf 
26% l«ft ChIPnT 
12ft 7% ChkFull 
50ft 24ft ChrisCr 
13ft 5 Chrlstn 
137k 9ft Chroma 
5* 42 Chrmpf 

38ft 20ft Chryslr 
71ft 34ft Chums 220 
41ft 50% Chubb pf 47S 
20% lift Clturtfis 64 
36ft 18ft Cilcorp 223 
48 35ft ClnBetl 
15ft 9ft anGE 
31ft 24 OnGpf 
70 5D ClnGpt 
5Mb 39 ClnGpt 
69ft 48 CMG Pf 
73 50 

27 20 . . 

36 32ft ClrdK 

31 16% ClrCliy 

24ft 14% Circus 
49ft 27ft Cl Mem 
85% 68ft Cllieppf 8.19*107 
43ft 34ft atrlnv 0 

66ft 53ft Ctvlnpf 200 30 
25ft 21% CtVinnf 287 116 

9ft 6ft CiaUr 72 96 7 

32 23 ft CJcrkE 1.10 18 Ji 

16 6ft CJayHm 13 

22% 17 ClvCtf 100 57 8 
22% 14% CSevEI 252 120 6 
40 46ft CtvEI pf 760 123 

61 47 CIvEfPf 756 126 

16ft 10 eicvpk 60 40 

19ft 14% Ctvck pt 104 107 

36ft 22ft Clarax 176 37 12 
24ft 14% CIUbMn .!0e 6 21 
32ft 24 CluettP 100 37 12 
20ft 16 duel pf 100 57 
21% 12% CoadMI 60 29 14 
55% 23ft Coastal 
60ft 24% CsiJpf 
M 84W Cstlpf 
72% 53ft CocaCI 
19ft 9ft Caleca 

34 25% Calami _ 

26% 20ft CalgPal 170b £2 
49ft 39 CaigPpf 475 97 
23% 14ft ColAlks 64 xi 
23 It CalPdss .16 J 
31% 20% Cal Pen 160 4.9 
Oft 39ft Cglllnd 200 47 

35 26% Cel GOS 218 107 

52 48 GolGSPf 568 IT. I 

27ft 22% CSOpf 365 
I08ft 96 CSOld 01575 14.1 


13 

104 

291 

78 


200 

260 


57 10 

60 8 


70 


70 # .9 7 

J3t 40 92 
68t 10 


171 


100 


27 3 
37 I* 
7.1 

27 17 
89 9 


113 60 . 
116 130 6 
400 137 
970 1X3 
764 1X2 
978 136 
CMG pf 90S 125 
ClnMIl 72 XI 27 
y* 27 IS 
08 7 13 


226 44 


0 13 
1.19 20 
103 21 
296 47 W 


170 


19 10 
33 


9 49 49 49 

143 19% 19ft 19ft— ft 

280 13% 13% T3%— % 

356 21% 20% 21% + % 

43 3ft 3% 3% — ft 

1 11% 11% 11% + % 

491 70% *9% 69ft + ft 
552 44% 43% 44% + % 
I* 14% 74% 14% + ft 
72 21% 21% 21ft + % 
497 217ft 216M 217% + % 
1805 37% 25% 36 —lft 
30* 106% 1 06ft 106ft— % 
89 12% 12% 12% + ft 
255 35% 34% 34% —1 
3*5 23% 23% 23% 

2536 29% 28% 28ft— % 

11 24% 24ft 34% + ft 

174 38% 17% 38 + % 

■ft 8% 8W— ft 
44 43% 43% + ft 

29ft 2B% 29ft + ft 

-- 35% 25 35% — ft 

192 18ft 17% 18ft + ft 

2314 12% 11% 12ft + % 

44 21% 21ft 21% 

*028 35% 34ft 35 + % 

2 24% 24% 24*4— % 

741 102 101 102 + ft 

IS 41% 41ft 41ft— % 
151 9% 9% 9%— ft 

352 42% 41ft 41ft— ft 

153 34ft 24ft 24% — ft 

1754 24ft 24ft 24*— ft 

358 28% Z7ft 28 — % 

670z 43 42% 42%— % 

1148 19ft 18ft 19 — % 

28 25ft 25% 25ft + ft 

32 35 M% 34% — ft 

374 9ft 9% 9% + ft 

103 18ft 17% 17% — ft 

200 4 3% 3%— ft 

SO lift 11 11 

76 21ft 21% 21%— ft 

433 26% 25* 26% + ft 

272 19ft 19% 19% — % 

5543 23ft 23ft 2S% 

92 2*ft 25% 26% +1% 

43 52% 52ft 52% + ft 

2200 B% 8 % Sft— % 

W 7 * ™ 

22 2% 2% 2% 

2228 *0 59% 59ft— % 

61 47W 46% 46% — % 

78 56 55ft 55ft— ft 

22 53V= S3 S3 

6 20% 20ft 20ft + ft 

86 28% 20ft 28ft— % 

5701 43ft 42% 43ft + % 

3 43 43 43 + % 

110 56% 56ft 56ft + W 

60 35% 35% 35ft— % 

900 35% 34% 35ft— ft 

4147 35% 34% 35% + % 

2146 17ft 17 17ft— ft 

37 143ft 143 143% + ft 

23 75ft 73 75ft +1 

54 23ft 23ft 23ft + % 

33 8ft 8% 8% — ft 

21 50 49ft 47ft— % 
35 12% 12 12ft 

115 10% 10ft 10% + ft 
27 SOW 50ft 50ft 

6361 36ft 36% 36% 

217 69 68ft 48% — ft 
100 S9% 59ft 59ft 
933 20ft 19% 20 
237 25ft 34% 25 — ft 

35 48ft 47% 48ft + % 
1036 15% 15% 15% — ft 
160x 31 30 30 —lft 

lOx 70 70 70 +lft 

MGz 56ft 5Mb Srfft +1% 
5001 69ft 48ft 69ft 
290z 71 70ft 70ft 
691 Z3V. 21% 23% +1 

62 34ft 34% 34ft— ft 

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3378 49 48% 48% — ft 

*5 3 00 ft 00 ft 00 % + ft 

4709 34% 33% 34ft— % 

7 53ft S2ft 53 — ft 

549 25ft 25 25ft + ft 
223 7ft 7 7ft + ft 

1147 20ft 28ft 33ft + % 
153 12% 12% 12% + % 
41 19ft 19ft 19% 

1226 21% 21 21 — ft 

10802 60 60 60 
19402 61ft 6T 61 

63 12ft 12% 12% — ft 
15 17% 17% 17% — U 

366 36ft 36% 36% + ft 
318 25 21 34 — ft 

2545 30ft 29ft 30% + % 
20 19 18ft 19 + ft 

253 13ft 13* 13ft + % 
1303 53% 52 52% — 1% 

6 50% 58% SOW— lft 
2 58ft 58W 58ft 
3724 69ft 68% 60% — I 
449 15 14 14*— ft 

138 30ft 38% 30ft + ft 
1662 24* 24ft 3t* 

20X 46% 46% 46% + % 
971 2l 20% 20% — % 
130 21% 71 W 31ft + ft 
126 ZB* 2Eft 28* + ft 
267 59ft 58% 59ft— % 
3686 29ft 29 29* 

2 49% 49% 49% — ft 
1 27% 27% 27% + % 
30Z108 100 100 +1 


lIVsnhi 
WiSPLCe StiCt 


=.< V-S BE 


5"_ : - r_c 

■x*. H.g.-.s* 


ICC* 

48ft 

37ft 

17% 

20 

33% 

31ft 

16ft 

17 

103% 

23 

25 % 

59% 

26* 

34% 

35 * 

35 * 

ir% 

46% 

34 

34% 

18ft 

38* 

15ft 

35 ft 


277 
207 ru 
774 124 
272 U 
170 17 
74 .7 

00 23 


07 20 
74b 10 
100 80 
240 «J 
40 29 
240 70 


44* 

36 

47ft 

■ft 

29% 

47 

47ft 

47ft 

36ft 

22ft 

23 

47ft 

34ft 

24% 

as 

14* 


15% 

47* 

10ft 

4% 

9ft 

34% 


40ft 

lift 

3% 

34ft 


97 CSO pt nISTS 147 
27% Combi n 216 40 
25* CrnDEn 104 50 
8 Ccmdli 79 U 
15ft ComMtl Je 27 
E* Ccmdro 
23% CmwE 300 90 
13 CwE Pf >70 110 
13% CwE of 200 11.9 
80 CwE pf H70 117 
18% CwE pf 237 IC7 
TVS CwE pf 
46 CwE Pf 
17% CortiES 
29* Cnrrtsot 
39 CPSYCS 
26 Comogr 
II ComuSc 
14% Cptvsn 
22% ConAos 
13% Conclr 
13* ConnE 
19ft CimNG 
19% Conroe 
24% ConsEd _ ... 

35 CenEPf 405 100 
38 ConE pf 500 119 
20ft CnsPrts l.io 37 
31 CnsNG 272 XI 
4ft ConsPw 
13% CaP pIB 400 1*7 
23% CnPpfD 70S 150 
25* CnPpfE 772 160 
25 CnPpfG 776 140 
lift CnPprv 400 1*0 
9% CnPerU 300 1*3 
10% CnPPTT 278 160 
25% CnP pfH 708 160 
11% CnP BT R 400 167 
10ft CnP or P 3.98 1*7 
10% CnPprN 185 1*0 
7% CnP orM 200 1*0 
7 CnPprL 273 153 
II CnPprS 402 160 
7% CnPprK 243 16.1 
23ft CntJCfl 200 50 
4ft Conti II 
% Comil ri 
% CtriMdn 
4ft Cntinto 
18 ContTrl 
34% CtDotd 
33 


19* 

26* 

27% 

15% 


48 

77* 

10 

37* 


26% 

20ft 

23ft 


65% 

29 Vj 


68 ft 

10% 


100 70 

72 17 

iDtpf 400 117 
23% Cenwd 1.10 30 
1 vlCookU 
37 Coopr 102 40 
30 Coopl pf 290 77 
12ft Coop Lb 
12% CaprTr 00 21 
15 Ceopvts 00 10 
11% Copwld 04 37 
19% CPWfdPt 248 117 
17ft Cordon 
10ft Coreln 

30 ComGs 
23 CorBlk 
44ft CexCffl 

4% Craig 

31 Crone 

39* CrovRs 
16% CrocfcN . _ . 

15% CrckNpf 218 110 
18% CrmpK 170 57 
34* CrwnCk 

Z7* CrwZel 100 24 
43 CrZalpf 403 90 
50 CrZel pfC40O 77 
20% Cuftm 00 27 
14* Cullneta 
60ft CumEn 230 XI 
0% Corrlnc 1.100100 
30ft Curtw 170 30 
27ft Cydon 1.10 22 


04 

178 

100 

74 


530 x 167 * 
140 48 * 
001 37 -k 
919 irn 
31 18 % 
1143 9 % 

4(38 30 % 
23 16 % 
13 ir% 
337103 ft 
5 23 ft 
99 25 * 
lOOQz 50 ft 
230 2 *% 
656 37 Vl 
642 35 
61 77 % 
291 15 % 
1393 16 % 
247 33 % 
150 24 % 

29 10 % 
21 29 
139 13 * 

0 1363 34 ft 
390 X 43 
11 45 * 
11 397 33 

9 647 46 % 

15 2452 6 * 

lOftc 27 * 
220 X 40 
1220 X 41 % 
240 x 48 ft 
192 Z 6 ft 
38 22 % 
U 22% 
300 x 48 
113 34 % 
34 34 
70 33 % 
I 15 % 
19 15 
149 34 * 

30 1 SW 
23 1842 47 V, 

287 7 ft 
486 2 ft 
1068 % 
7 34 9 

9 1623 23 % 
1017 31 ft 
50 x 3816 

11 128 31 % 

156 lft 

14 3268 34 ft 
164 37 * 
3 307 14 ft 

S 110 19 ft 
19 1764 26 % 

31 12 

10 21% 

14 56 25% 

12 65 12 ft 


100b 40 


0 Q 10 


102 47ft 
23 956 75ft 
5 8% 

11 234 37% 

17 794 81* 

57 26ft 
344 IN 
10 18 20% 

18 397 5S 
14 14N 41% 

74 48ft 

2 41 W 

10 47 30 

40 2382 31% 

4 785 701* 

3 10ft 

14 36 34% 

10 22 50% 


106* 1ST* + * 
47ft 477m — % 
31ft 3? * % 

IS 15Vj + * 
lift lift 
9% 9*— ft 

30ft 33*— % 
16% 16% — 
16* 16*— ft 
taw laift 
23-4 23ft + ft 
ISft 25% + ft 
50ft Sift 
26% 26% ft ■» 

33 »ft 
34% 34*— ft 
£4% 27* ft ft 
15ft 15ft— ft 
lift 16% — * 
XT 7 33ft ft % 
34ft 24ft— V. 
lift 18* 

£1* 39 * . 

13 ft 53% 

34 34U— - 

43 43 — ft 

45 - 45* *1 
32% 33 ft - 
«S% 45ft — ft 

6% 6%— 'ft 

27* 27* 

47 48 ftl 
47ft 48ft +1 
47% 48% ftl 
26ft 26'ft 
21* 22ft— ft 
22% 22* 

48 48 + ft 

23*. 34 

23* 22ft— * 
23% 23ft— V» 
15% 15% + ft 
14* 14% ft Vk 
24ft 24ft— % 
15% 15% — ft 
44% 47% +1 
7% 7* ft % 
2* 3% 

* *— % 
I* l%— Vk 
23% 23%—% 
30% 31 + ft 

38% 38% — 1% 
30% 31% + * 
1 % 1 % + % 
33% 34% + ft 
» 37% 

14% I4%— % 
18% 19% ft ft 
26% 26ft — ft 
11 % 11 %— % 
21ft 21ft 
25 25 — ft 

12% 12%—% 
40ft 40% ft % 
47 47 — ft 

75% 75% 
f% 8% — % 
37% 37% — % 
>1 81% 

26% 26% 

18% 18% — ft 


4ft PH tnd IS* 10 3 9 9?k 9% Tft 

> 67* 44* FVC 225 37 41 323 68 67 68 +1 

■ KT-3 56 PMCof 275 27 13 84 83 M +1 

; 25% 17% PPL Go 5 96 7 0 9 5648 23% 2 5% 25ft — % 

13% 9% FcCCTr 73 25 14 4 IT II II ft % 

; 14% 9% Pceet 7 59 13ft 13% 13% 

23* 55% PaireM 00 5.1 313 IS* 15% I5%— % 

1 .Vi 32% Freest X6C 9.9 299 36* 34* 36ft — ft 

1 56* C% pglrid .58 !J 53 S3 14% 14% 14% 

; £*- 55% F«rOts 7B .• 2* 309 2T% 23 23%— % 

; 19% 14% Fcrs%l 0C 41 13 5251 IS 54% 14%—% 

. X% 23 PrikOP 4 3 29ft 39ft 39ft 

' 3ft 54% For si 88 40 0 22* 19 16% 19 ft % 

; 53 8% F=*Grg £C 27 54 ~i Tn 9% 9ft 

’ e* 4ft Peders S* 7 9 yg 6ft 6* 6ft 

; 77% £9% Peace 154 U I 

! 45% 79ft PtaSm 30 

, 3* 29% PdMea 103 O St 

‘ :*% PedNM 56 J 

■ £7 I*% P+3PBS n 1» > 

! 27ft 25* PPsopt 271 80 
i 3 55 FedET! 104 40 :« 

; 59% 1 r. F+SarJ JC *0 IS 

■ 54.1 42% FeC7 55 204 47 9 

l 3-x 22ft Pe-rs 570 47 1J 

r 3- Pices? 27C re 13 

: 16% 4 PL-CoA 751 

; 4 T» 54 - P.-sCopf 673*30 

. 6 ■» 2-s FrJBe- 

JC 16 71 

08 x: 8 

107 40 I 
■75 20 M 
570 t0 51 
IX Sfl 30 


17 


; 3% 56 

24* 52% Ff At; t 


27 


97 

S3 !S 

f . 7 -■ 


56% 57% + % 
40% 41 + % 

48% 48% 

61% 61% ft ft 
29% 29% ft % 
29% 30% — 1% 
68% 70% +1% 
18% I0%— % 
34 34ft + % 
50ft 50% 


23% 

15* 

30% 

8% 

IS 

100 

34 

78 

23 

13ft 

19* 

43 

17% 

58 % 

103 

35% 

33% 

25% 

47* 

7% 

37% 

38 % 

37 % 

17ft 

93% 

76 

62% 


•1 


25 ft 

26% 

25% 

UK 

25% 

27* 


31% 

32* 

19% 

24 

15* 

28 % 

21 % 

38 % 

59 

125% 

83* 

45 

6ft 

w% 

33% 

21 % 

57* 

34 

42% 

33% 

51 % 

13% 

22ft 

19% 

52% 

60% 

36% 

45% 

34 

01 

76 

71 

27 

34% 

106% 

Bl% 

78ft 

17 

17* 

14% 

16 % 

lift 

17% 

11 % 

35% 

SBft 

14 % 

36% 


13* Dallas 06 30 
9ft DamonC 70 14 
21% DonaCp ITS 40 
5% Danahr 
8% Daniel .18b 17 
71% DcrtKr 400 4.7 
23% DartK wl 
Sift OctuGn 
12% Datpnf 
8% DtaDea 70 21 
12% Davco 74 10 
26% DaytHd 74 10 
11% DartPL 200 110 
43ft DPLpf 708 T24 
75% DPLpf 1200 110 
21% DeanPd 06 10 
34% Deem ux> 30 
17% DeUnP 172 70 

27 DettaAr 00 10 
4ft Deltona 

19 DfxOi s 72 20 
17* DenMIs 170 47 
26ft D«5oto 1>0 4.1 
12% DefEd 108 TOlO 
68% DetEPl 500 57 
39 DefE Pf 972 120 
47% DetEof 700 125 
45% DetE pf 776 123 
19% DEPfF 275 114 
20% DEPTH 374 127 
19% DEPtQ 113 123 
19% DEpfP 112 127 

20 DE PfB 273 107 
21ft DEpfO 300 122 
20* DEpfM 302 120 
24ft DEpr*. 4 J00 7ZS 
24% DE OfK 4.12 124 
13ft DetEpr 278 110 
17* Dexter 00 29 

9 % DIGIor 04 40 
21 * DIG to pf 275 80 
16 * DiamS 176 90 
34 * DkxSh pf 400 104 
37 Dleblds 100 23 
77 ft Dtgltol 

43ft Disney 

X DEI 
3 % Plvnln 
6 % Dqnwj . _ 

21% DamRs 272 80 
14 Donald 06 3 3 
35% Danlev " 

23ft Dorsey 

32ft Dover 
25* OowCh 
34* Dowjn 
11 Dravo 
15ft Drear 
14* DrexB 
23* Drevfua 

43 ft dupgnt 

31 duPntpf 300 97 
39 duPnl pf 400 104 
22* DukeP 268 70 
64 Dufeepf 270 107 
59% Dukepf 070 107 
57 Dukepf 700 107 
21% Dukepf 209 ia.1 

28 Dukapf 305 110 
Wft Dukepf 1100 100 
64% DukpfM 804 107 
51ft DunBrd 270 28 
II* Duo LI 206 121 
14 DllQ pf A 210 120 
lift Duqpf 107 1X1 
12ft DlMPt 200 120 
W Duqpf 205 127 
12% DuaprK 210 124 
13% Dug or 231 1! 

22 Dtiqpr 
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170 4.1 
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71 17 
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200 121 
00 12 
300 XI 


275 118 
770 129 
00 40 
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9 lit lift 17 * 18 % + Vk 
355 11 % 11 11 % — ft 

9 44 * 5 x 29 % 29 29 % + % 

19 52 7 % 7 % 7 %— % 

52 11 % 10 % 10 %—% 
11 819 1 W% 99 ft 100 % + % 

80 33 % 33 * 33 % 

13 2937 42 % 41 % 41 *— % 
1366 13 % 12 12 — 1 % 

10 90 9 % 9 % 9 % + ft 

9 117 16 % 16 % 16 H— % 

16 1483 42 % 61 % 42 %—% 
7 919 17 % 17 % 17 % — % 

314 QX 60 % 51 60 % + 2 % 

30 x 96 96 96 — % 

15 203 36 ft 35 % 36 ft + * 
27 1163 29 * 29 % 29 % — % 

9 840 25 % 25 % 2 S%— % 

7 1196 45 % 45 % 45 % — % 

109 5 % S% 5 % + % 

17 884 36 % 36 % 36 % + % 

13 131 26 ft 25 % 25 *— ft 

11 86 34 % 34 34 ft— ft 

8 4816 17 % 16 % 16 * — % 

1 93 % 93 % 93 % 

lOQz 74 % 74 % 74 % + % 

50 x 41 % 61 % 61 % — % 
sofa 60 60 60 — * 

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16 26 * 26 % 2 f%— % 

149 26 % 25 % 2 S%— ft 

23 26 ft 25 % 25 % 

5 25 % 25 % 25 % 

55 28 % 27 % 27 % + ft 

29 28 Z 7 % Z 7 %— % 

23 31 % 31 % 31 % + % 

14 33 * 32 % 32 * 

23 20 19 * 19 * — % 

11 409 20 % 20 ft 20 % 

190 15 % 15 % 15 ft 

2 Oft 28 ft 28 * 

10 3784 18 * IS* 18 % — % 

74 38 % 38 38 — ft 

11 137 44 % 44 44 — % 

13 3357 107*107 107 % 

» 2251 84 ft 83 % 83 % + % 
6 49 46 45 45 

4 347 5 * 5 % 5 * 

762 9 % 8 % 9 % + ft 

913504 22 * 31 * 32 % + * 

9 36 17 * 17 % 17 * + % 

16 495 58 * 57 % SBft + * 

13 39 29 % 29 % 29 ft 

14 5 B 8 X 39 38 38* +1 

12 5279 33 % 32 32 % + % 

23 1617 46 * 45 ft 44 ft +1 

396 12 % 11 * 12 % + ft 

15 1448 20* 20% 30* + ft 

30 19 * 19 * 19 * + * 

13 100 52 51 ft 51 % — % 

13 4936 59 * 58 * 89 V. — % 

6 36 * 34 36 ft- % 

13 45 % 44 % 45 % + % 

> 4231 32ft 32* 33*— * 
450* 81% 80 81% +1% 

300* 75 75 75 +1 

200E 72* 7J* 75* +1* 
16 26* 26* 26*— % 

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2500x105* IDS* 105* +1* 
134002 12 01 81 + * 

23 1294 W* 77* 78* + * 
0 2168 17 16* 17 + % 

200X 17 17 17 - * 

2802 14ft 14ft 14ft — % 
28QZ 15* 15* 15*— * 
2500x 16% 16% 16% + % 
8 17 16* 16* — % 

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17 15 1011 30 % 29 * 30 
40 8 51 23 * 22 % 23 — * 

22 998 29 19 * 19 * 

1795 8 * 8 % 8 *— % 

70 3 % 3 * 3 % 

125 1 * 1 ft lft 
23 14 % lift 16 % + ft 
233 19 18 * IS*— ft 


37* SI* F*8k5* 

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40 * 39 % 40 —I 
34 * 34 34 % 

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163 £ 7 % 37 £ 7 ft + % 
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56 57 * ITV^ 17 * 

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131 32 * 32 ft 32 % + % 

4 JT 4 % 4 % 4 % + % 

2 S 3 S 22 * 21 % 22 %— % 
227 2 £ 71 * 21 *- * 

143 37 % 34 * 34 % — % 
:: Si 33 * 33 % 

52 74 * 74 ft 74 ft— % 
452 lift 25 * £ 4 ft— Ik 
44 71 *- ? 3 ft 58 ft + ft 
»Pk 9 J% 93 % + % 
57 * 12 lx 12 * 

IS* 39 * 39 * 

:t* 3 r- 37 % — % 
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52 * II* SI*— % 
32 ft 31 % 31 *- * 
44 9 9 — % 

19 % 18 * 18 *- % 
4 * 4 % AH - ft 

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27 % 27 * 3 % * % 
34 * 34 34 — * 

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34 % 20 * Fuoua 00 17 


209 22 % 31 % 31 % ♦ % 
TO 13 12 % 12 *— ft 

491 25 * a 26 % + * 
153 a 28 % Ik 

53 45 ft 44 * 45 % + ft 
873 25 * 3 ft 2 T*— ft 
31 !*% 14 % 14 % — % 
79 4 % 4 * 4 * — % 

141 18 % 17 * 17 % + % 
137 18 * 18 % > 8 * 

» 57 % 97 57 — % 

310530 43 * 42 % 43 * + % 

62 12 % 12 ft l£ft — % 

91 71 % 71 % 71 % — % 

273 14 ft 13 % 14 ft 

39 9 % 9 ft 9 % + ft 

284 28* 28% 78* + ft 
532 26ft 25% 25% — * 
97 22% 22ft 22% 

... 28 S 7 % 9 ft 9 % 

19 IS 1487 20% 20% 20* — to 
13 15 51 26ft 25* 25*— ft 


02 27 17 

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129 19 11 
200 XS 
176 11.1 


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23 ft 13 * HOWICP 
27 % 2 C% Hwbbrd 
11 % 95 k Huffy 

IB 12 % MuehTl 
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3 ] 21 % Human 

27 * IFk HunIMf 
41 % 3 ’k MuiIEF 
305 k 18 ft Hydro! 


1X4 

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00 17 10 

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14 % 14 ft 1 «% 

21 % 22 % 22 % + % 

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27 % 27 %— % 


13 11 3394 32 * 32 ft 33 % — ft 

45 10 44 10* 30ft 10* + % 


1.44 


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19* 16V y iCMn 
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10 225 ‘j ICN Pf 

i?ft 14 iNAin 
37* 23 iPTimn 
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*% 20% ITT Cp 108 
63ft 40 ITT OfK 400 
61% 445k ITT pfO S09 
4«ft a ITT PIN 125 
65 42 k ITT oil 4J0 

21ft lift IU Inf 170 
43ft 31% idohoP ia 
a 71 IdOhPwl 

135k ItMdB . 

76* 17% lilPawr 204 a. I 7 
10% 13% HPowpl 104 1CJ 
34 27ft llPewuf AI2 114 
33% aft IIPOWDI 111 1IJ 
<+.» 37 HPpwCt 401*1X7 

43 a* iiPcwpt 007 iij 

36ft 21ft 1 71V 04 20 13 

40'- lift tmoChm 109* 30 8 

IG% 3% Invoice , • 

14% 8% INCO 70 U 

40 45 ItVdlMpf 778 IIJ 

70% 541k IndIMOf 108 >11 
18 14 indLMpf 115 120 

IB* 14% IndlMpf 273 110 

a>- 23% IndlMpf 103 126 


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54 28 * 28 % 28 * 

336 33% 32% 32%— % 


351k 17 GAP 70* 0 12 
17% 25* GAT X 170 47 13 
47ft 32* GATXpfZSO 6J 
51% 49ft GATX Pt 4J3e 90 


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150 47 
100 73 
140 100 


34* 19% GCA 
77* 48% GEICO 
9% 4 GEO 

12% Sto GF Cp 
44% 35* GTE 
39% 31* GTE Pf 
36% 24 GTE Pf 
24 19% GTE pf 

9% 4ft GalHM 
62% 36* Gonett 
26% 10* GcoSfr 
26% 10* Gooritt 
19% 13% Gcica 
lift 9% GemllC 
11% 10 Gem FI I ___ .. 

47% 30*6 GaCorp lJOb 13148 

17% 14% GAInv 103* 97 

44ft 29ft GaBcsh 100 13 8 

34* 19% GClnm* 00 17 10 

33% 19% GCnpfa 06 17 


367 35ft U 35 — % 

137 28% 2S% 28%+ ft 

7 37% 36* 37 —4* 

100 Sift 51 51 to 


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17 T8 
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XI 15 


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84 44* GfiDyn 
65ft 40ft Getl El 
66% 50 GnFds 

7% 5* GGftin 

9* 5* GnHrra 

14% 9 OH nets 
16% 8% GnHowS 

27* 15% Gnlrnt 
60% 47* GnMIlb 274 X9 34 1372 

85 61 GMot XOOr 7.1 6 6651 


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17 11 749 77ft 75ft 75% +1 
79 0% 4% 4% 

27 7ft 7% 7% — % 
70 I 4964 42* 41* <1% — % 
3 37ft 37ft 37ft— ft 
12 25% 25ft 25ft— ft 
45 23% 33 23 

20 4% 4% 4% 

109 59* SBft 58%—% 

SO 26 25% 25% — % 

13? lift II 11%—% 
796 18% 17* 18 + % 

303 lift 11% 11% 

236 11% 11% 11% + Vk 
505 46% 49* 45*— % 
55 17% 17% 17% 

45 44% 43 43% — % 

425 32 31* S2 

23 31 30% 30%— % 

287 15% 15% 15*— ft 
100 10 8 2627 71* 68* 69 —2% 
120 U 1211091 61* 61% 41ft— % 
2J0 X8 10 502 46% 69* 65% 

00a 80 335 7ft 7 7— ft 

13 88 6% 6% 6% + % 

70 12 3 128 13% 13ft 13% + % 

74 27 113 10% 10* 10% + % 

75 10 784 IB 17% 17%— to 

87* 56% 36%— % 

70% TCft 70% + ft 


71 33 GM E A 24* J 2219 77% 76ft 77* — % 

39ft 16% GMEd 319 39ft 38* 39 — to 

40 34* GMafpf 175 90 25 40 39ft 39ft— % 

52% 44% GMot Of 500 90 32 52% 52 52% — % 

9 3% GWC .16 Z4 M 3£U 6% 6% 6* + % 

13* B% GPU 6 397 13ft 13% 13% 

85* 46ft Gen Re IJ6 IJ 52 1443 84ft 83% 83%— % 

14ft 5 GnRtetr 7 102 13ft 13 13% 

53% 39% GnSIgnl 100 19 12 304 46* *5* 44ft + * 

12 9* GTFlsrf 175 707 40Qz 12ft 12 72ft +1% 

12% 10 GTiqpf LW 109 20001 12% 11% 11% + % 

BV» 4 Geneco 18 215 5 4% 5 

28ft 13% GnRod .10 0 20 201 T8% 17* la — ft 

ZJ% 15 Genst g 100 116 23ft 22* 5%— ft 

36 24% GenuPt 1.11 15 15 1074 33* 33ft 33* + * 

27% 18 GoPoc 00 37 M 2410 24% 34% 24% 


28% I Tk IndlGla 1 
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25* IS’- infmlc 
30 15Vk irvuerR 
3T.x 2?* ingPPI 

13% n I nor Tec 

23% 19% InldSII _. 

48'- 33% InkfSroi ATS 107 
21* 14 losJIce 1005 30 
9% 3*k lAXPRs 

26% 11% ItlfgRac 
a 19 lAtgRof 303 110 
S3 a InieRpf 651*14.7 
35% 25ft intgRpf 473 1U 
13ft 7ft IfllRFn 
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ST-) 35 IrHerco 
13% ?% tntrtfi 
sa% 4t intrik 
14% 8% inrmed 
£«% 14* intAiu 
138ft 99 IBM 
24* ISft InfClrl 
29% 22% lA!FIO» 
lift 5% InlMarv 
71k 3% Inf Hr wt 

52 23% intHpfC 

<2 20* tnlHpfA 

34* 17* JnlHpfD 
43* 33% I nt Min 


23 Ini Mult 17* 
57* 44 intPapr 20O 
17% 9ft tntRcs 
54% 32* intNrfh 148 


1341 33% UH 33* 

177 18 17 IB + * 

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121* 17 14* 17 ♦ ft 

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■8 7 8 19% 19% 19% — ft 

If II 5174 34% 34 14ft— % 

03 45 61% 40 41% + % 

87 2 41 41 6) — ft 

1 45% 45% 45% — % 

2 63ft 43ft 17- 
243 15* 13% VS* + ft 
214 43ft <2% Ck — % 

21 77 31% 2tlk— % 

113 13% ISH 13% 4 % 
5755 24% ZVm 24ft— U 
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7001 34 » J4 +1 

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443 10% 9% 11- % 
717 14% lift 14% 

100X 40 40 40 

IQOl 71% 71 Vl 71% +1% 

3 II 17% I7%— % 
17 11% 18* It* 

12 29ft 28% 3k- * 

113 24'- 2J% 24 — ft 
3T •% 6 Mb 

151 »% 25% ask 

402 48% 48 48% +10. 

49 33ft sab a* + % 
8 II* 11% 1IH— % 
■91 aft 23% 34* + * 
33 44tm 441b 04ft + ft 
227 I9U 17* 17* -1% 
7# si Sk Ik 
489 21ft 20 21 +1% 

63 25% » 23ft + % 
1 44% 44% 44% 

138 32* 33% 32* ♦ H 
132 13 12* 12% + ft 

19ft lift 18ft— ft 
68 47ft 47* + ft 
II* lift 11% + ft 
Sift 31 Sift + ft 
9ft 9 9ft 

_ _ . _ 19% 19% lfft— ft 

400 37 1312150 IBft 132*133 
70 12 11 403 £5% Sift 25% +1 

1.12 17 14 1072 20ft £9% » ♦ * 

2752 9ft 8* 9 — ft 
240 6* 5% ,5ft 
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4 33ft J3ft 331k— 1 
41 a 27% 27*— to 
200 07 12 1343 42ft 40% 41* +Ito 


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34% 19ft LOfflHfl 1.18 M W 312 JMb Mft T 


34 ft 19 ft LomMO 
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903 14* 14 14ft 

34 2ft 2ft J*— ft 

139 j7% am am + ft 

U 15% IS* 13ft— * 

3336 33ft 33ft + ft 


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33ft Mft iSSGV IU 12 II t(3 51*. Sift W% 

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«•■- lift ModFhw 103 11% 11% 11% - Ht' 

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2*ft lft MfilAaf moc 133 2% 2% 1%— % 

23>l Ills UonMD 70b 18 48 M4 13k 14% lift 

21ft 13% MonftNf 0 It U N IJlk IT 17—1* 

aft lift MonrCl .14 0 21 a% 3«H 

42 to aft Mfriion US 70 6 4087 41% 40% 40%— ftb 

38* 41 Mlrifpl 4J3»t2> m 54* 14% Htk— IftV 

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2Qft 15% IntstPw 1.90 90 8 
20ft 16% InPwpf 278 11.1 
28% 14% IOWOEI 1J0 9.1 10 
31to 21% towllG 174 BJ 7 
Jlft 17 lowlllpf 131 107 
35% 35 lowaRs 3J» U I 
37 34 I palas 104 *2 


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4734203251 50ft 51 +ft 
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40% 23% trvBka 1.96 50 

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2U J7 3646 36ft 

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245 52% 51% 52% + % 


31% 20 JWTs 1.12 &6 17 174 31% 21 31%— % 

34ft 23ft J River J6 2 0 9 1633 2B* 27ft ZHto— to 

a«% 13% JoRinnr .12 0 11 237 a Mft 34% + to 

13* 10% JOPttF 104*1X1 379 11% 10ft 11 

4Sto 24* JetfPil 102 30 7 549 45 44% 44ft 

70 54% JerCpf 976 1X4 170x 70 69 70 

61 46% JerCpf 8.t2 130 . 160x 61 60ft 40ft— ft 

59% 45ft JerC at 708 111 14A40z 68% 60% 60% +1% 

180 90 JerCpf 13-50 115 90XHX) 100 100 

95to 78to JerCpf 1100 117 l to 94 94 94 

17% 12* JerCpf 110 127 74 17% 17% 17% + % 

10% Sft Jewlcr 22 4 10ft »% 10ft 

47ft 21 JohnJn 1 JO 18 16 6816 47% 46* 47 — to 

46to 37ft JohnCrv 106a 40 9 709 <2* 42 42% + % 

28 71ft Jorgen 100 40 17 9 25% 25% 25to— % 

26% 15% JostMIS 00 X2 14 158 25 24% 25 +% 

27ft a* JOTMfO 100 &9 14 188 24 23% 23% + ft 


10ft 7ft KOI 70 20 10 61 8 7ft 7ft 

l£ft 9% KLMB 11 363 17% 16ft 17 — to 

39% 33 KMI pf 400 HO 2 37% 37ft 37ft 

41 Vk 27% K mart 100 X7 10 5689 38% 37to 38% + % 

40% 38 KM Ena 1M XI 17 115 39% 39 39 — % 


37% 33 GoPcpf 274 6.1 
36 30ft GOPCPfCX24 67 
M 2Sto GoPwpf 59* X3 

29 22ft GoPwpf 304 111 

30 25ft GoPwpf 176 120 
21% 17% GcPWPf 156 110 
a% 17 GoPwpf 1S2 117 
25% 21 to GoPwpf 135 10J 
66% 52 GoPwpf 700 120 
63ft 51 to GoPwpf 772 127 


I 37 37 37 +% 

133 35ft 35ft 355b + % 

40 27% 27% 27% + ft 

75 28% 28% 28% + % 

111 30 29% 30 + % 

17 21* 21% 21% + % 

K 21% 21 to 21% 4- ft 

24 25% 25% 25% 

450z 65 65 65 +1 

140x 63 63 63 


33% a% GerbPS 172 40 12 UW 34to »* »% + % 


.12 7 13 


02 

160 


5 

11 a 

4.1 12 




18 


aft 12 -A GertsSs 
12ft 8% GlonfP 
l2Vk 5* GlbrFn 
27 16% GWfHIII 

63V. 42% Gillette 
15ft 11% GleosC 
R* 6* GfenFd 
■to 2% GlebtM , 

25% 9to GlebMPfTTSl 
13ft 8Vb GldNuu 
4 1* GUN wt 

Sift II GMWF 70 
33ft 24ft Gdrich 106 
38vk a Goodvr 100 
18% 13* GordnJ SO 
32% 1* GOuM 08 
44ft 34% Groce 200 
6f 47 Graknsr 174 
19% BVk GFAFSt 
18% 13% GtAtPc 
S3* 77ft GtLkln 
21ft 15ft GNIm 
40 to 3! GtNNk 
29% 16% GIWFIn 

irj 11 % gmp 

29% 18% Greytl 
4to 2% G roller 
13ft 8% GrgwGs JO 
12% 6* Grub El J8 .. 
a 22% Grumn 100 30 
26* 24% Gram Bf 100 100 
8% 4% Grantgl .14 
27% 20 Gullfrd 08 
39ft 25% GHWkf 
24* 11% GulIRs 
15ft HI GlfStUt ._. -... 
36to 30% GllSUpf 400 111 
49* 39 GlfSU Pf 606*1X3 
30% 34 GlfSU pr X05 111 
34% 27 GlfSU PT 400 IXI 
77 55* GltSU Pt 800 110 

18ft 12ft CASTS 09e 4J 94 
19% 14 Gutfon 00 XI 12 


6 008 


IB* 17% IV*— ft 
11 Mto lift 11%— % 
959 11% 11% 11*— to 
1671 34ft 24ft 24% + % 
427 63 62ft 63 + to 

311 13ft 12% 3% + ft 
12% 12% 12ft— ft 
1404 3ft 3 3 — ft 

185 9ft 9* 9% + % 

70 12ft 12to 12%— to 
337 3to 2ft j — to 

373 n% 32% nto— * 
269 33VL 33 S3* + % 

3794 30 29% 2fto- * 

a 14to 16 16 —to 

941 22U 21 22* + % 

1037 41% 41ft 41* + * 
147 6Sto «ft MW + ft 
492 19% M»— ft 

670 16% 15ft » “ J? 

IN 53% 52ft S3*— * 

42 1S% 15% 15ft— % 

226 37* 36% 37V* — to 

11 10 1670 28% 27% » —ft 
90 0 132 ljto 18 18%— ft 

4J II 2021 30 2Wk 29* + to 
10 lisa 6% 5* to 

14 16 111 12% !**- ft 

J 14 513 9% 9% 9% + % 

8 943 28% 27% 38% 4-1% 
4 26% 26% 36%— % 

20 232 Sft 5% 5%— % 

20 9 160 24 + ? 

20 12 1817 38 n% 37*— % 

16 16 31 lift 14% 14%— J* 

104 IU 7 4195 15. lf% M%— % 
SOX Mto 36to 36* 

1 48% 48% 48% + % 
69 29* 29ft 29ft— % 
31 »»»,, 
20s 80 78% 88 43 

443 14ft MW T4%— to 
140 15 Mft W*- to 


100 

1051 

1-52 

J 8 

172 

170 


0 ■ 

40 IS 
X4 8 
37 18 
Xt 40 
40 11 

11 u 

15 10 
7 

1.9 15 
127 4 
4.1 9 


.90 


16 % 12 % KoftrAI .151 
Jlto 14 % KoISCe 70 1.1 

14 1 SV. KnlCPf 177 70 

1 S% 8 % Koneb 00 47 

Mft 14 % KCtvPL 136 9 J 

36 29 KCPL Pf 475 130 

18 % MW KCPL pf 270 127 
34 ft 36 Vk KCSOU 100 2.1 
14 Vk 10 to KCSopf 100 87 
19 % 12 Vk KonGE 276 118 
39 % Sft PConPLf 196 70 
2 ZVk IB KaPLpf 232 180 
22 » 17 to KOPLpf 223 100 
45 18 Kofyln 

1 V 5 49 Katy pf 

20 10 * KaufBr 

Mft 12 ft Kavifpf 
« 88 KOUtpf 

55 % 29 % Kellogg 
34 * a KeJIwd 
3 ft ft Kenol 
26 19 % Kenml 

20 20 % KyOfll 

18 % 9 % KerrGI 
24 % 17 % KerGpf 170 
33 % 76 to Kerr Me 1.10 
28 ft 16 % KevBk 170 
19 % 14 Kevslnt 00 
36 * 26 Vk KUde 170 
84 64 Vb KM prB 400 

84 62 KUpfC 400 

54 % 39 % Klm&a 132 
37 % 23 ft KnahtRd 76 
29 17 % Koger 

29 % 15 * Kolmar 


104 10 
00 20 
100 X 9 
875 100 
176 
170 


00 

204 


2305 14% 13* Mft + % 
189 18% 18% 18% 

_ 3 17% 17% 17% + to 
350 8% 8% 8% 

892 24 23% 23*— to 

IDz 33% 33% 33% —1% 
11 lBto 18 18 

152 4Bto 47* 48ft + % 
lOOOx 12 12 12 — U 

2348 19ft 18to VB%— ft 
IM 39ft 39% 39% + ft 
8 22ft 22 % 22% 

14 22ft 23to 22ft 
421 35ft 34* 34* + ft 
6 19* *9 89* + ft 

401 17 ft 14 % 17 

5 1 16% 16% 16% + % 
7 811k 81 81 

97 15 1734 55ft 53* 54*— ft 
30 7 41 31% Jljb 31% + ft 

48 1 K 1 

17 15 SI 21ft 21* 21% 

80 10 141 Z7* 27* 27% — % 

4-5 no 9ft 9* 9ft + ft 

90 8 17ft 17% 17*— ft 

30 31 1401 J2ft a 31 —|ft 

40 s M Mto a a 

150 17 1»% lift — % 

555 34% 32% 34% + * 

1 (Oto so* 80 to + * 

I II 81 81 +3 

590 55 54% 55 +% 

711 J7% 36to 34% — % 

77 20* 27% “ 

92 — 


t«V» Mil Market 
90% 40 MarrMt 
48 35% MrkhM 

54% 30to MOfTM 
13U 8% Mar.K 
35% 32% tttneo 
13% T* MouMr 
20 151k Mod 1 

3tk 2 MomP 
29% 20tk MmCe 
l£to 9% MO. Inc 
89% 51% MaftwE 
lift Mk FuaitM 
11 414 Motel wt 

32% left MantPt 150 

1JV> 9L. MO ram 
58% 33% MivDi 

H 34'a Mavig 

31% =5% Me Dr pi 270 70 
3Wk 20% McOrot SeO W0 
31 33% MC Deri 140 80 18 

lift 4ft nacDrl wt 
10% ilk McOia JO 12 *1 
44ft 40% MCDnl* 02 17 14 
■4% SO* McOnO 
50ft 34% McGTH 
4SU 32% Me Ken 2 .40 U 13 
11% 9ft McLean 
4% ] McLeowf 

29ft 30 MCNell I JO 
41% 2»to Mead 
Mft VJVk Mpsrac 
33% 24Vk AApdfra 

CVS 33»k Mellon 

27% 22% AW Mon pf 208 FO0 
47 31* Melvlll 

Sto&S 1 

70 40% Merdth 

^”2 KS? 
ShSJSS? 

7% Sft Moob 

4% 3W M«M 
30 31% JWE PK X90 1X0 

54% 44% MUE PfO 708 1X6 
*1 47% MIE p*J 172 1X6 

59 45% HUE pfl 113 130 

48% 40% MtePfH 872 130 
3ft 31k MoxPd 71* BJ 
It 12ft AKhER 170 00 10 
.2? _f% MlCIUbg 04 10 31 
55% 33V. Midcan 274 40 9 
U» 9*i MldSUt 
22% 14ft MM Roe 
30% 32 MWE 
16% 11U MHtnR 
M 72 MMM 
34* ZMMIORL 
15ft 6ft HUmi™ 

8 4 Mitel 

34ft 22% Mobil 
3to % vIMaMH 
9* Sft ModOpf 
» Mto _ 

15 2ft MoDkOf 
19% lift Manrch JO 
51 40ft Monaan 150 
M 16ft MOftPw 280 
Mft Mft Aionst 100a *.7 
10% 6* MONY 01 19 9 

ini 12 Moores 72 IB 13 

26ft 18% MoarM 104 4.1 14 

C 25V. Morans 270 47 I 

■c* 26ft MorKnd 100 15 10 

25* 18% MerseS 00 XB 13 

21 12 MfgFOy 171a 80 II 

35% 23* Mortons 04 1.9 9 


213 

32 

SM 

43 

42 

ftll 

415 

IM 

41 


34 * MM 348 k- to’ 

4 ft 0 % 4 % « 

ft ft * 

3 Ik Sft XV4 + ft. 

n 3 M 4 Mft 


Uft Mft 14 %— l. 


375 90 ft 98 % *Mb +^' 
IM 40 ft lft 88 ♦ * 1 " 

ltft M* 53% Uft ♦» 1 

in wife mb Aft 




ira lift 

ia w. Aft 19% 

901 2% Jft 3ft r 

W 3 29 ft Mft 29 ft ♦ ftj' 


89 13to It 13 

yn it 40 % 41 .. 

m* Mft Uft Mft— ft 
300 Mft 10 ft mb— ft. 

ix mm 


4 13 * lift gw Uft— ft 
IJO 17 >0 3145 51 % lft 5 * + 1 % 
20 Ofl M 11 198 52 53 % 52 + ft I 


17 29 % 28 % 29 + ft 

» 25% 23 » — % 

U h, ft fft ft; 


>• a u . a sr ffi-i 

I 1 40 17 IS 1338 57ft a Uft +1 



5 

14 Jfft 3 Hb 2 Mt-r 


7 14 39 ft 2 Hb lift- ft 

9 1051 41 * 41 % 41 % 4 ft 
13 1 » W% 19 % 19 ft 

ia to ii saiss-o 

U 0 U M 3091 WftlMto mft + 21 * 
100 M 14 - — 


4o%-i r 


00 30 34 «8» 

4110® 


^< 9 % + to 

33% 32% 33 -to 


104*50 

J 4 * 11 J 


2M 2to 3ft 
U Uft Mft — 1 
33 % 32 ft Mft— ft 
4* 4ft Mk 
3ft 5ft 3ft- ft 




170 H5 
700 IS 
174 97 11 
04 U 14 
150 
174 


5 7 S 33 


FMohose 00 


2^ 16Vi Munfrd 04 11 14 

23% 15 Munsne 31 

« 30 MurphC 100 19 10 

Mb 23% MurpO 100 30 U 

23* 14% MurryO 00 30 10 

13% 11 MulOm 104eHL3 

11% lft MverLn 


54ft - 

2ra 4) 41 81 

112ft 48 » 48 +1 % 

1434ft 43ft 48ft 42 +lftk 
110 2% 2ft Mb 

15 17% 17* 17ft— % 1 
4 5ft Sft 

900 51% Sift 51% — ft 

14% Mto M* — % 

34 17ft 1714 17% + ft 
113 29ft 39* 29%— ft ! 

34 13ft 13* Mto 

40 13 3134 71ft 7788 TWO + ft . 
70 1 549 34% Mto 14% 

43 0% lft Oft— to 

709 4ft 4ft Mb + ft 

7.1101372 *fc3Tl£+ft 

15 30 7 4 ft 7 

17 13 U» 31 % 30 % 31 — to 
9023 3 % 2 M Sft— ft • 

If M 10 TO 17 ft 17 % 

XI II 3578 49 40% 40% 

0.1 10 145 Mft 24ft Uft— ft 

53 18% 18* m 

» II 9% 9ft + ft , 
453 19* 19 lfft 

140 Mft 25% 25% 

2731 n* 51* 53ft— ft 
108 42% 41ft 42 

iw 21 20* a + % , 

»6 20* 194b M + ft - 

356 34% 33% 34 — ~ 

m2 34% 33% 33ft— life 

210 2SU. 24% 25to + AW 

» 21ft aft 21ft— ft 

10 47% 47% 47% 

88 29ft 29% 29% 

*5 17ft 17ft 17H— % • 
57 14 13% W + ft , 

35 1% lft 1ft , 


NAFCO 100 
140 


72 

172 


78 U 


31% M 

*0 NBO 

23 12* NBI 

»k 17% NCH 
O 2* NCNB 
30% NCR 
!?* 10% NL Ind 
lft jfi NVF 
Mto ayk NWA 
4£b W% NotacB 208 
»% a No ICO iai 

29 % 21 % Nashua 
M% 10 % NtCnvs 76 
33 22 * NatDfff 220 

19 V. Mu, NDfstpr 105 97 


SO 


X3 17 230 me. ft* 10ft— ft ; 

U » 66 ft 66 ft— ft ' 

,,J1 449 17 14ft 16%— to * 4 
UM 17 21ft 21% 211k— to 
J] ’£*?£* 43 42% + % ; 

X? 9 5904 29ft 29% 29ft + ft • 

no lift ii* uft + to 

iS 11 ITT? Sv 4s * k 45ft— ft '.t 

S I? ^ sst St Tztt •: 


„„ 7 JO 27 % 27 * 37 V. — Vk 
19 U 1000 13 % 12 % 12 U 
70 a 1684 29 * 29 % 29 *— ft , . 

» »iw NotEdu — ” M «S S5 iSS ISJzS - 

Mk lBVk NatFOs 108 67 7 49 38 % aft Sft— ft ■■ 

23 19 ft HFG pf 2 Jfl 18 J 7 S 33 22 * a -» 

4 Sft 27 N O l G yp 200 40 7 2131 45 * Sto S% 

4 ft 2 ft NIHom 1)4 4 ft 4 4 

2 ?* 25 Nil 75 10 63 58 S 25 % 24 * 25 to to ; 

SVv Nllpf 500 80 38 57 56 * S*_ t£ 

?*% 17 % NMedE m 1 ■ »e =— ■ = 2 ? =» -ft 

lift 4 * N Mines 

22 * NtPrest IJO IS 12 
9 ft NtSeml 13 

2 lft NlSvcIn 1 J 0 14 11 

11 % N Stand 00 19 11 

10 . Narco n 04 e 57 7 

9 


29 

14 % 

30 

18 

13 -. 

»ft 21 % NevPw 176 97 
J 4 % lift NevPpf 100 110 
14 % NevPpf 174 90 


If 17 
30 9 
50 
4.9 

4 3 II 
11 17 
270 87 54 
72 10 17 


22 % 17 Kooars 00 40 24 500 IBft 17 % 17 * % 

104 M* KoppreflO 0 O 100 3 100 99 * 99 * 

16 12 % Korean _ 11 a 14 13 % M + * 

45 V. 29 ft Kroger 200 40 12 1311 44 ft 44 44 — % 

32 * 11 Kuhlme 00 10 17 166 32 % 31 % 21 %— to 

22 7 to Kutilmwi 56 22 % 21 % 21 % 

67 % 36 % Kvocer 73 e J 22 66 40 % 40 ft 4014 — to 

23 to 13 Kvsor 00 45 6 67 18 % 17 % 17 %— to 


177 * 9.9 11 


106 167 
573 IIJ 
175 ?J 

19 

1J0 7.1 1 
JO 16 


H 


37% 19% HallFB 100 M MF j** t S 

35 % 2 §k JSmPe 10 464*34 MJ ^ 

Uk 11 V> MenJS 1070115 75 lift MJ* M ™ 

104 a 97 49 19 ft W% TO 

44 19 18 m 29 % 20 * 29 Vu 
06 3 J 19 151 19 ft lSto IBft— * 
M 33 73 40 18% Mto Mto 

,00 17 15 235 S 57 


14 th lift HonjS 

30 15 % HonJl 

30 14 Handle 

20 % 15 % HondH 
22 % 16 % Men 
57 % 25 % HorarJ 


57ft + to 


2 Sto 22 % LN HO 
ISlb 7 % LFE 
12 * 6 to LFE pf JO 40 
171 k 12 % LLE Rv 118*150 
4 to 2 LLCCB 
Mft 7 * LTV 
55 44 % LTV Pf 

27 % IA LTV pf 
69 42 to LTV Pi 

IB* 10 * LTVpf 

17 101 k LQiHnt 

29 % 16 to LodGa 

10 % 6* Lefuree 

28* 23 Lnfrgpf 204 107 
Mft 9to LOABira 74 13 13 

4% 1* LwnSea 169 

14% 10* LowTIrrt 06 4J 14 

SW 13ft LeorPt 70 17 13 

28* 20% LOorP pf 207 110 

53% 37ft LeorSa 200 40 ID 
131% 98 Lears pf 225 10 
21 14 LeaRnls 00 11 IS 

34% 34ft LswvTr 100 40 11 
41 22 LeeEnt S3 10 20 

15ft 9 LeaMai 70 U 21 
21% 15ft Leg Plot 08 27 9 
(to 2% LstiVal 
15* 13ft Lehfim iJSeUf _ 
15ft 9ft Lennar 70 17 22 
24* 10% LeucNts _ 4 

37* 23 Lew 151 105 50 31 

«% 42* LOP 
79% 68% LOFpf 
22% UbFvCa 
Rto 53 LUhr 
SOft 15V. Limited 
*|ft 26to UncNII 
D* lBVk LhicPI 
80 61* Litton 


2 S 0 


172 

*72 27 IT 

10* 4.1 n 

274 al 0 J 


« 27% 27% 27ft + ft 

87 18% IS* 18* 

, 8 12% 12 ft 12 ft 

465 14 % 14 14 % — % 

1 2 2 2 -ft 

7304 Oft 8% 8% 

3 46 49 45 —1 

728 19 17* 18% +1% 

12 45% 44* 44* + % 

279 12% 12 12% +1 

IDS 13% 13 II — V. 
177 24to 23% 24 + % 

70 7* 7% 7ft 

32 34% 23ft 23% — ft 

105 lOto 10 10* 

X 3ft i'u 3% + ft 
97 12* 12% 12H— ft 
120 17ft T7V. 17W— U 

69 24* 24* 24* — ft 

2Sf 50% SOU 50ft + ft 
. ,5 ia 135 125 +1 

145 19% 10ft 19* + % 

70 31% 31ft 31% 

104 41* 40* 41* + U, 
45 15ft 15 IS —ft 
U 21 ft 21 ft 211 k + ft 
161 2* 2% 2* + ft 

305 14% MU Mft + ft 
473 15 14% IS + to 

33 23 23 % Sft— ft 

37 ft 34 * 371 k + to 

1 72 72 72 — ft 

« * k » »% 30% + « 

1053 82% 81% 82* + ft 
1447 50% 49ft 50ft + % 
901 45ft 44* 45ft— ft 
22 22 % 22 * 22 ft + ft 


ft 


IDO 20 10 1350 x 73 ft 71 71 *— to 


NewPpf 1 J 5 11 j 
IgA Oft NevftvL JO 40 fl 
31 % N Era El 160 80 7 
77 % 22 % NJRse IM 75 10 
36 16 ft NYSEG 20 U 7 
87 JPI X 7 S 110 
73 S 5 % NYSPt 800 120 

1 ^; SI 5 C A 2 - Wb1,J 

J? > 3 % NYSpf 112 117 

31 S YS 'ff D3 ' 7S ,11 

I 3 to Newell JO XI TO 


19 


S'"** 1 9 JM 188 32 
11 * Newhll 478*310 
10 % 7 to NwMRs 150«304 
44 * 31 Newmt 100 27 41 


^ 'J$ S ® 1 J 25 IW 7 TO- ft '[ 


Xoo 80 

72 10 14 3148 28% 5% Mk- 
J B* 8% •%. 

» 34 ft 24 % 24 % 

4 « lift 10% II 

ig s fr 5 “-“ 
s 

40 ta Mft Mto Mft 
53 W* 17 % 17 % 17 ft + ft • ^ 
4 17 17 17 + ft 

« J 0 % 10 % HRb 

_ 61 27 % 27 27 % • - 

2 W 4 »* BVk 25 % ,9 

a 32 % » + % 2 

50 x>nk 72 ft 73 ft + ft v; 
10 26% 24 Vk 36% — ft J 
7 19 * 19 if -T 

,2 31 30 % 30 %— ft : f 

’ft »8 15 % 15 ft— % J 

23 52 ft S 2 52 Vk + ft 
M IS 14 * « + % 1 : 

** «k Mb lft + % . S 
*07 45 % 43 Vb 4 S% 


31ft 23% NIoMpf 300 120 
33 24* NIoMpf 3J0 120 

® ^ NlQMp) 0.10 IU 

51 38 ft NtaS^t 4 W 120 

gmsisisa 

f 5 g 3 !!iS?A? 

*' ® JSSrita 0 ^ 5,1 

S’* Ngrsh- 200 


JO 30 + to 


SOX |1% 3]ft 31ft + ft 


.i 


5 u +i% 

/n 43 42 42 +1 • ‘ 

^ S. W 41ft + ft r V 


97 14% Mft Mft + ft A 


4 UI 33 > 33 % 33 % _ 


_ }*y» 15 ft isft— 

? ’800 44% 65% 4*ft + i 

10 16% Mft Uft + ft 



St&sSPBfi 11 % !?$ + * 


— s Nostpw 376 80 
2" 2L NSPwpf 300 >09 

- SS 2 4 .U '»< 

.. 3g SITrS “Jj 


104ft 

42 * 


tm . j 


300 x 104 % IM 104 +-iW 
«” 38 * 38 % —ft 

25 li Hfrtrpi 170 20 12 1444 44 * mT* u. I'd 

iS®ssa-"3g|fi:;g 

25 Norton 

2 ^ «ft NBrinl 


** * * NYNEX oS 70 I 2048 l& & + - 


U 0 SL 5 12 
9 " aw ETJ*. * Jft 40 14 


SO* 
30 * 
I Sto 


Nucor 

NutrlS 


00 

001 


J 13 

1.1 11 


tt-ontmued on'Pige 14) -*■>' • 



1 














INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


Page 13 


BUSINESS ROUNDUP 


S1CO, 


if 2-Billion Trade Accord 




\ Conptfaf bf Our Sutf From Ddpaicha 

"MOSCOW — - Pepsico Inc. 
“^Oigned a new trade agreement on 
o^^XsTnesday with the Soviet Union that 
.exposed to double production 
sates of Pepa-Colajn the coon* 
? r J? over the next five years. Offi- 
" Sis placed', the total value of the 
^^^rccord at about £2~b iltinn 


The Atlanta-based Coca-Cola 
Col also has been inroads 

in the Soviet madtet Coca-Cola 
rtffiqflfs announced si Jahnaiy that 
thiy had readied agreement to sdl 
Coke in. hatd-cnrrency stores serv- 
ing tourists and foragaresdentsof 
the caj»f& "V- " ’ ■' 

The CocfrCola. agreement fol- 


; , 

* . 
•- **-v , 


T. 

; t 


. V r ** • «■ .• . iedng of Pepd- 

' •' >1 Va}5P“0® and Stol 

• I & Jijhe United Stau 

» i!:3sii Current retail 


*'■ - au. 

>'!<• 'n, 

-■«* 
£ v 

» l* * 

:■ ■» ■ 


• kk •; js j.'ieo chairman and by Yuri B. ZM- 
.1 *“ ■: ' 'it £.■; ;Mn, president of the Soviet Ex- 
/p. : -i t ^&Jort-Impon Co. 

- V- ,j Tepsico officials comend-that 
- '.'V ;i ;j Sg;>he beverage is the most widdy 
1 i ' ‘ I® = Available foreign consnmerprDdnct 

- -'Ul * i£j n-the Soviet Union. 


West German Lead Reported 
in Development of Cable TV 


i< . < 

*'•% ", \ 1 
*> V 
:% i. i> . , 
111 .< < 
;< . . •, , 
‘ 

I;** •-« 
4; , ■ 

* * -A «■ 

V 

» - , 

M -:w 

'"A » . 

fcv, 

^4 7*1. 

•<n •* . 


% BobHagefiy 

International Herald Tribute 


hftfra»c pl»'n< tO devdep a Cable 
system using fiber-optic technol- 
ogy have beat set back by the lade 


jg *S WN P° N "West Germany is 

progressing much more rapidly in«i KnoZmtt** Awr 


<h j'ban Britain and France in devd- 
n? -ping cable television, according to 
<<k report released Tuesday by CIT 
ufesearch of London, 
i £*' The rqjort said that about &5 
% 4 < ercent <k households in Western 
?- riinrope are linked to cable s y s te ms 
!ii that the figure u couldwdI don-’ 
^ *-le within 10 years.” 

•i-J g |>Sfey 1989, the repot forecast that 
.:'5 ■>= ^percent of West German house- 
e ^ '„ olds wodW be Knlrari to cable, up 
iti T; V’om 4_5 percent at present. In the 
^ S same period, QT said thefigurefor 
k .I'criiain is likely to rise to 63 per- 
'.*! feut from 5 percent and for France 
"i percent from 2 percent. "■ 

^ Anthony D’Abreu, a consultant 
H. U'CIT, said the faster West Ger- 
-3 i^.aan growth reflected heatyspend- 
;>-jg by the Btmdesposi. winch dper- 
■ ;£ A^tes the county’s ptutal and 
: -- >:i: depbeme systems. In Britain, pri^ 
? V:!jde companies are financing cable; 
,* many investors consider the 
peeled returns too low. 

; Mr. DAbren said Prance’s am- 
E-rat • * • . • 


farton amrwig local authbrides OVCT 

the costs invtAred. .. . 


Barclays Snares 
Martin Jacomb 

International Herald Tribune 

LONDON — Barclays Bank 
PLC said Tuesday that it had 
xeomted one oflirndon’s best- 
known merchant bankas to 
head its new securities business. 

Barclays said Martin Ja- 
-comb, 55, now a vice rharrnmn 
at the mochant bank of Kkan- 
wort, Benson Ltd,- would be- 
come executive chairman of 
Barclays de Zoete Wedd, a new 
securities house being farmed 
.by Barclays Merchant Bank 
and two big Loudon securities 
firms. Mr. Jacomb also was 

named a deputy ehirirman of 

Barclays Bank 


'■■'O The agreement, which runs towed the expiration "of sin exdu- 
;• \hrough 1990, esmands an a previ- ^ve- agreement, between Pepsico 
i, ous ama gpnen t far ccchange *n atr - and the SonMt govanmem. 

I* .. of PepsiCola in the Soviet Coca-Cola also produces Fania 

I) SP sfJnion Mid Stohchnaya vodka in orange soda, the wmid's third best- 
"V :« ^ ^ ^-he United States. sd&og soft drink behind Coke and 

" Cmreni retail sales of Pepsi-Cbla PcpsLFanla has bem.wid^sold 

■. , the Soviet Union are about S200 in tte Soviet Union since 1979. 

jj r? 1 ' j? million arm natly, and U , -9 nf Peps and Farita- can be pur- 

* % 5 r ’Stolichnaya vodka are about S100 chased in grocery stores as wdl as 
million each year, said Prosico’s from kiosks located along mqor 
5, ?jhief executive officer, Donald M. streets in the Soviet Union's bigger 
S !>r ,| CaidalL in a ureoared stataneok dries and at major sports andre- 
^ ;£Urider this latest agreement we " creation faciEties; 
i: jv ' ,^ect our total business to nearly The first Pepsi bottling plant in 
,1 « ? iouMe,” he said the Soviet Union opened m Novor- 

i» ,!S ’a. The affeement was at the osrisk in 1972, after Pepsico and 
-I . S> J-roreign Trade bfinistryfey tte Pq>- Moscow agned-tbdr first maAet- 

k « £ »Vico ttahaan by Yuri B. Za » ■ ing agreement. The Soviets pur- 

*•; ■ J- 'it ^^hin, president of the Soviet ' Ex- . chase die concentrate to make the 


Sainsbury Profit 
Up 20% in Year 


LONDON — J. Sainsbury 
PLC the big supermarket oper- 
ator, reported Tuesday that pre- 
tax profit for the year ended 
March 23 rose 203 percent, to 
£156.4 million (about $195.5 
minion), from £130 mOfion a 
year earlier. 

The company said sales, in- 
cluding value-added tax, rose 
17 percent, to £3.14 bfflkm, 
from £2.69 billion. Volume 
growth in its supermarkets in 
the fiscal year matched the pre- 
vious year's rate of 9 percent, it 
said 

Net profit margins on retail- 


Hoffmann-Roche Sales 
Rose 20% in First Period 


the Soviet Union opened m Novor- 
osrisk in 1972, after Pepsico and 

Moscow sgned-their first market- 
ing a g r e eme nt . The Soviets pur- 
chase die concentrate to make the 
soft drmk- 

• Pepst-Cola, now produced at 14 
botthng plants throughout the So- 
viet Union, sells far aocxu 40 cents 
pa 12-oanoe bottle. (AP, Reuters). 


ing rose to a record 5.06 percent 
from 4.97 percent, while the 
group’s price competitiveness 
was further improved The 
group opened 15 new super- 
markets year an d invest- 
ment was a record £246 million, 
the company said 


COMP AMY NOUS 

Astra AB, a Swedish bolding 
company, said it has concluded an 
agreement to buy the denial-sup- 
plies division of Piend SpA, an 
Italian maker of chemicals and 
medical supplies, from the Swedish 
biotechnology company Fennenta 
AB. Terms were not given. 

Bfffinger and Berger Baa AG ex- 
pects to complete more than 3 bil- 
lion Deutsche marks (S989 million) 
worth of construction projects in 
the current year, from 3.41 billion 
DM in 1984. The company said it 
had completed 719 million DM in 
projects in the first quarter, down 
55 million DM from the 1984 peri- 
od 

Cable & Wireless PLC has an- 
nounced the purchase of fiber-op- 
tic tr ansmissi on capacity on a 
Washmgton-toChicago cable be- 
ing installed by I.jghtnet, a U5. 
fiber-optic network The agree- 
ment, exact terms for which were 
not given, includes options for 
CAW to buy other routes on Light- 
net’s 5,000-mile (8JX)0-kilonieter) 
U.S. netwenk 

Crown ZeQertadi Gup. was the 
target of a new move by Sir James 
Goldsmith- Sr James told the U.SL 
Securities and Exchange Commis- 
sion that his investment group 
bought an additional 13 million 
shares of the company’s stock 
Monday. It raised his stake to 25.02 
percent of the slock outstanding, 
qp from 5,482300 shares, or 20.08 
percent, earlier. 

Ffsoos PLC has conditionally 
agreed to boy the scientific instru- 


Reuers 

BASLE — F. Hoffmann-la 
Roche & Co., the Swiss pharma- 
ceuticals group, said Tuesday that 
first-quarter group sales rose 20.4 
percent from a year earlier, to near- 
ly 23 bilKon Swiss francs (about 
$960 million). 

The c omp any's chairman, Fritz 
Gerber, said at a news conference 
that sales for the first four months 
of the year were up about 20 per- 
cent from a year earlier. In terms of 
local currencies, the rise in the first 
quarter was 42 percent, he stud 

In the first quarter, pharmaceuti- 
cal sales rose 252 percent, vitamins 
and chemicals revenue rose 14.7 
percent wri perfumes and aromas 
were up 112 percent, he said 

Diagnostics sales rose 263 per- 
cent, instruments rose 133 percent, 
plant-protection material was up 
293 p ercent and sales of other 
products, which last year contrib- 


ments subsidiary of Carlo Elba 
SpA of MDan and Elba's U3 in- 
struments distributor for £123 mil- 
lion ($16 ntiHioa). Fisons said 

General Electric Ca has an- 
nounced the introduction of an “tin- 
tefligent” control device that it said 
would cut in half the cost of install- 
ing control systems used to mod- 
ernize factories. It said the device, 
called Genius, can operate inde- 
pendently of the computer to which 
it is linked 

IBM Corp. has introduced of an 
electronic typewriter for borne, 
school and business nse. The ma- 
chine will cost S545. 

J.C Penney Co. said it expects 
earnings for 1985 to exceed the 
1984 profit of $435 million, despite 
a 19-percent drop in first-quarter 
profit Penney reported first-quar- 
ter earnings of 550 million on sales 
of $2.80 bulion, off from $69 mil- 
lion on sales of $2.75 billion a year 
earlier. 

Royal Dutcfa/SheD Group's set- 
tlement with Shell Oil Co's share- 
holders in advance of the compa- 
nies' merger has been challenged 
by Sh dl (Ml shareholders. The 
shareholders said in a court motion 
in New York that they had been 
deprived of information on Shell 
Oil's share of a recent oD discovery. 

Scandinavian Airlines System 
and its Swedish subsidiary, Linje- 
fiyg AB, will ask the government to 
pay 300 milli on kronor ($34.1 mil- 
lion) in compensation for losses in- 
curred by the 18-day civil servants' 
strike, which ended Monday. 


uted 03 percent to total turnover, 
rose 64.9 percent. 

Mr. Gerber said the group hoped 
to improve its profuabQhy further 
this year but made no specific pre- 
diction for 1985 group profits. 
Group net rose 15.8 percent last 
year, to 3803 million francs. 

The company's 1984 profit rise 
was less than those reported by its 
competitors, especially Ciba- 
-Gdgy. whose earnings rose 53 per- 
cent. 

Bui Mr. Gerber said Hoff- 
mann-la Roche benefited to a less- 
er extent than its European com- 
petitors from the high dollar last 
year because its UJS. business de- 
pends largely on U_S.-made prod- 
ucts. 

He said Hoffmann carries out 
about 40 percent of its research in 
the United States, which meant 
that its dollar expenditure rose, a 
factor which partly explained a 
14.9-percent increase in research 
and development last year. 

Maryland Widens 
Depositor Access 
To Thrift Accounts 

The Associated P re ss 

ANNAPOLIS, Maryland — ■ 
Governor Harry Hughes Tuesday 
issued an executive order giving 
people with deposits in Maryland's 
privately insured savings arid loans 
a little more access to their money. 

But he refused to lift entirely a 
5 1 .OOO-per-month withdrawal lim- 
it. 

The order, presented to a special 
session of the General Assembly, 
authorizes a few exemptions to the 
limit on withdnrwls imposed by last 
week to stem a run on deposits in 
102 thrifts. 

Depositors who opened escrow 
accounts for special reasons, such 
as buying a bone, will be allowed 
to withdraw as much as needed. 

The order also will allow deposi- 
tors who do not use the $1,000 limit 
in one 30-day period to cany it 
ova to the next month. * 

The order, which does not need 
legislative action and takes effect 
Thursday, applies to all savings 
and loans except two, winch are in 
the bands of court-appointed con- 
servators. 

Mr. Hughes cited withdrawal 
figures from the 102 thrifts as evi- 
dence that the limit was restoring 
stability to the industry. 

The net outflow dropped from 
S119 million on May 14, the day 
the order went into effect, to 
$275,000 on Friday, he said. 


Brazilian Company Is Mining Profits 


(Continued bom Page II) 

which be points to with grcai pride. 
In both its Cany is project and its 
older iron we operations in Minas 
Gerais state, Rio Doce directly 
oversees not only production but 
also railroad transportation, port 
facilities, bulk carriers, and even 
marketing. Tins insures point-to- 
pcdnt control by the company, he 
says, and thus berter efficiency. 

But Mr. Batista’s real talent, ac- 
cording to his many admirers, is his 
ability and willingness to look 
ahead. “He’s a walking think 
tank,” one said. Aware of the dan- 
gers of overriependence on one 
commodity, for example, Mr. Ba- 
tista is looking beyond the Carajas 
project, even though its resources 
mil not be depleted far about five 
centuries. His plan is for Rio Doce 

to diversify into manganese, gold, 
bauxite, litaninm and aluminum 

He watches out for the future of 
Ms “system,” too. Concerned that 
the exhaustion of iron ore deposits 
in the company’s Minas Gerais 
project migh t render Rio Doce’s 
southern railroad and port system 
unprofitable, he has involved Rio 
Doce in promoting agricultural ex- 
ports from the region. Already 
soya, rice and other grains are rid- 
ing the rails to Rio Doce’s port 
facilities at Tubario and leaving on 
some of the 50 ships that it owns or 
charters. “I need to generate busi- 
ness for toy logistical system.” he 
said. “One of our best products is 
the sale of services.” 

Having spent all but three years 
of his career in the company, Mr. 
Batista does not exactly surprise his 
colleagues with Ms idras and inno- 
vations. This B the second time that 
be has engineered Mg changes at 


Rio Doce. He joined in 1949. just 
seven years after it was formed to 
supply iron ore to the Allies in 
World War 1L and rose quickly to 
head its Minas Gerais railroad ivi- 
siotL In 1961, at the age of 37, he 
was company president. 

Over the next three years, two of 
which were spent serving simulta- 
neously as minister of mines and 
energy, Mr. Batista designed the 
expansion of the company. “We 
either remained a small company 
producing three million tons of ore. 
or we became a big company.'* he 
recalled. “To become a big compa- 
ny, we needed markets, and we 
found one the farthest away in the 
world — Japan. For this, we need- 
ed 100.000-ion carriers, so we also 
needed a port.” 

The result was the construction 
of a new port at TubarSo in Esplri- 
to Santo state, within easy reach of 
the Minas Gerais railroad. “Japan 
also had to build a new port, be- 
cause pons ore like the tango — 
you need two,” he quipped. Mr. 
Batista also thought it would be 
logical to build a sled complex at 
Tu baric, but that project was 
awarded instead to the state steel 
company, Siderbris. 

Then, in April 1964, the armed 
forces toppled the left-leaning gov- 
ernment of President Joao Goal art, 
and Mr. Batista was fired for sus- 
pected leftist sympathies. ”!t was a 
ridiculous charger he recalled. “It 
stemmed from the fact that we had 
a social conscience in our projects. 
I was also once heard talking Rus- 
sian to President Tito, and that was 
enough to convince some idiots 
that J was a Communist. I was 
actually discussing an iron ore sale 
to Yugoslavia, which came off.*' 


Europeans Leamby the Book 


(Continued from Page 11) 
corporate intsest in “bow to” 
management books is on the rise: 
Monadnock International LkL a 
r jwidnn- bniw d management train- 
ing company, runs miming pro- 
grams based on “The One Minute 
Manager." 

Companies that have talcm the 
course and used it in-house include 
Phili ps T riwwmmiiniea Hfln BV, 

Mobil North Sea Ltd, the British 
subsidiary of Hospital Corp. of 
America, and NKP Insurance 
Group A/S, a Norwegian insur- 
ance company. 

The book is required reading at 
the weekly seminars for Hewlett- 
Packard Co.’s European sales 
force. “Cultural differences didn't 
come into play here,”said Ceess 
SI enters, manager of training for 
the sales force. "On the whole Eu- 
ropeans like the style of the book 
baa use it reads easily. At first, 
some have a little smile on their 
face and think it’s cute." 


Some publishers argue, however, 
that simple; straightforward busi- 
ness recipe books are still difficult 
to sell to Europeans, especially to 
the French. 

“Real recipe books are not get- 
ting that far,” said Geoffrey 
Staines^president of InterEdi lions, 
the French publisher of "In Search 
of Excellence” 

He added: “There is still a belief 
that management has to be bitter 
medicine to be effective, ff it is 
fairly easy on the brain, there is an 
unwillingness to treat vulgarization 
seriously.” 

la addition, a U3. label on a 
business best-seller can be a two- 
edged sword, especially in France. 
When the US. economy is doing 
well, U.S. management techniques 
are in. But a major recession or a 
return to the self-doubt that was 
characteristic of the 1970s could 
change current favorable percep- 
tions of U3. management tech- 
niques. 


He immediately found work in a 
private mining group, but in 1967 
He was appointed Rio Dive's repre- 
sentative in Europe, spending the 
next 12 years based in Dusseldorf 
and Brussels. He was reappointed 
company president in 1979 hv a 
new military government that had 
forgotten his purported leftism. 

By that time. Rio Doce had 
grown into one of the world’s larg- 
est iron ore producers. But its fi- 
nancial situation was bleak, so Mr. 
Batista's first move was to stream- 
line the company by selling off two 
unprofitable subsidiaries and re- 
ducing the payroll. The only non- 
nrining investment that survived 
was a cellulose plant in Minas Ge- 
rais. Then, with about 60 million 
tons of iron ore being exported an- 
nually through Tubarilo, he turned 
his attention to Carajas. 

The Carajas reserves, which hold 
18 billion tons of ore with an excep- 
tionally high iron content, were dis- 
covered in 1967 by a Brazilian geol- 
ogist surveying jungle regions of 
Para slate on behalf of U.S. Sled. 
The American companv became a 
minority partner with Rio Doce in 
1971 but later sold its share in the 
joint venture for $50 million. 

The decision to exploit Carajis 
was controversial. .After the 1979 
oil price “shock.” Brazil was enter- 
ing a period of recession in wMch 
so-called Pharaonic projects were 
viewed skeptically. Bui Mr. Batista 
demonstrated that only 32 percent 
of the project’s estimated S4-biUion 
cost would have to be financed 
abroad, much of it in supplier cred- 
its and loans against future exports. 
And confident that the company’s 
cash flow could handle its 513- 
billion foreign debt Mr. Batista 
argued that Carajis could help the 
government with its own debt re- 
payment. 

Even for Rio Doce. however, de- 
velopment of a mine deep in the 
Amazon was a new experience. It 
involved building industrial instal- 
lations, a town, an airport and con- 
necting roads in thick jungle. It also 
required taking steps to protect the 
environment and negotiating ac- 
cords with Indian tribes demand- 
ing compensation for activities in 
or near reservations. 

Bui with all this, preparatory 
work for the mining advanced 
ahead of schedule, and the $1.4- 
billion railroad to the new port of 
Ponta da Madeira in Maranhio 
stale was inaugurated last March, 
six months earlier than expected. 

K&ORMt I 

DEGREES"^ I 

KEHHEDY-WKTERNUNIVERSITf 1 





CENTRAL INTERNATIONAL LIMITED 

Oncorporated with limited liability in the Cayman Islands) 

U.S. $150,000,000 
Floating Rate Notes due 2000 
Unconditionally and irrevocably guaranteed by 

BANCO CENTRAL, S. A. 

(Incorporated with limited liability in Spain) 

Bankers Tmf I ntp matinnal I imite d Union Bank of Switzerland (Securities) Limited 


Bank America Capital Markets Group 

i 

Baxtque Nationale de Paris 

Citkorp Capital Markets Group 

Credit Suisse First Boston Limited 

Deutsche Bank Aktiengeselkchaft 

IBJ International Limited 

Manufacturers Hanover Limited 

Mitsubishi Finance International limited 

Morgan Guaranty Ltd 

Nippon Creditlnternationai (HK) Ltd. 

Paine Webber International 

Saudi International Bank 

Al-Buk AlSiudi AJ-Aknri Limited 

Sod£t&G€n&rafe 

Sumitomo Finance International 

Wegtp» r Banking Corporation 


Bank of Tokyo International Limited 
Chase Manhattan Capital Markets Group 
Credit Commercial de France 
Daklchi Kangyo International Limited 
First Chicago Limited 
LTCB International Limited 
Merrill Lynch Capital Markets 
Mitsubishi Trust & Banking Corporation (Europe) S A. 

Morgan Stanley International 
• Orion Royal Bank Limited 
Sanwa International Limited 
Shearson Lehman Brothers International 

Soci6t£ G6nfirale de BanqueS. A. 
lakugxn International Bank (Europe) S A. 

Yasuda Trust Europe Limited 


April MBS 







IT-'' . ET! 


rsTij 


U.S. Futures May 21 


pMMit Season _ __ 

waft Low Oaen Htoti Low Oeoo Oft. 


season Sown 
waft Law 


Own Hiatt taw daw CM. 


nu u.is Mar 9058 jblsb *asi ms — ja 

9036 U J3 JM *02 903* 9022 90S --2 

tan sum son faoo van «*jy wxi —2 

■9X9 PJt Dec 8937 8937 1*77 8f j* —JOS 

■9X7 87X4 Mar 0*40 Of 40 0f40 Otjf _ JJS 

EftSales 76M7 Prav.Sate* JW7 
Prtw.DavOMfliftuabfS* u»2X22 


Metals 


Thesite s 

MV* 

Gosmg 

Tabtas bKbide me natkmwM* prim 
op To the cJotffw on Wan sireef 
and do wrf reflea fate trades elsewhere. 


3U« Roftrin 
lahtftoKmn 40 14 
n. RaflnC* Me 3 

M KMlIns M 44 

1 Raw 
nth Raw 44 44 
04 Rarer L« 34 
19» Rowan ,D 13 
4114 RaytD U7e 4J 
UK Roy Inf* 

33fh Robreta 44 14 
MH Runttr 
)» RUTaa 74 U 
I» RyanK 140 04 
If Rvdera 40 U 
12V*, Rvmt 40 34 
mJtrawr 


IS I* 

n 

30th 30V. 

t*» * 

sass 

3M 33th 
1M 10 
30 3M4 

37 34 

3313 23th 

1SW IS 


am- * 

aie + H 
nte 

599* — U 

5*7!! 

a +u* 
27 + U 
S3 -«* 
IS 


FRENCH PRAJtC (IMM) 

Soar franc- 1 pataleauoMSUXXKn 
.11020 4M10 Jan .10465 .10443 JOMS .10*43 

■22J5 -5SHS & j«8 

.10*40 49470 Doc .10425 

Ext. Sales 30 Prev. Soft* 1 

Prev. Day Oma lift 1X96 
GERMAN MARK (IMHO 

SOTmarh'lMMfqmMUOn 
4733 3KB Jon 4304 4392 42M 3»4 

05*5 TWO Sew 4305 4315 4254 497 

33 3S SS 3814 * -■ 

EM. Soles Son Prow. Sotos 25X74 
Prw. Day Open lift $ui a»MH 


Industrials 


Livestock 


CATTLE (CMB) 

40UX»lte.- cents per ft 
«_50 59 JB Jun 4345 4347 

4747 4045 AuS *442 4445 

6540 60.10 Oct 6327 6X30 

6745 6L5D Dec *430 6430 

6745 6X10 Rib 6470 6495 

6757 ***'»?*„ ******* 

EM Sales 14474 Prev.Sate U074 
Prav. Dav Open lift subi oft toe 
FEEDER CATTLE (CME) 

44000 lbs.- cants per lb- 
7370 6447 AM *940 69.10 

7Xm 6460 Sep 6855 6X65 

7232 64a Ocf 6X20 *140 

7320 6525 NOV 69.15 6925 

79X0 6X60 Jon 7030 7030 

69.10 66.10 Mur 

Eat.sofas LUO Prev. Soles 1«7 
Prev. Day Open lift 7jR9ue97 
HOOS (CMS} 

30000 Rax- cents perOx. 

5X40 4440 jun 47-65 4755 

5177 47jD 5 Jul 5030 5047 

5437 4737 Auo 5045 5050 

5175 4X00 Oct 4730 4730 

5025 4X30 Dec 4X15 403 

5000 4625 Peb 4907 4940 . 

4725 4430 Apr 4S95 4600 

4905 4670 Jun 4X20 4X35 

4975 4775 JlH 4930 4930 

Est. Sates 5387 Prev. Sotos LUO 
Prev. Day Open lift 3M0 up 227 
PORK BE LUES (CME) 

30000 UtL- cents pot lb. 

8200 SMS May 6X00 6500 i 

0247 61.12 JlH 66J0 6675 i 

00X5 6020 Alia 65J0 6X72 i 

7620 63.15 Feb 7375 TUS \ 

7540 6400 Mar 7100 7100 ; 

75X0 70.10 Mav 

76i» 6970 Jul 7450 7450 1 

Est. Sales 5437 Prev.Salee M89 
Prev. Day Open lift 11255 oft 45 


Financial 


US T. BILLS CIMM] 

SI million- pfs of 105 pet. _ 

SOW 87.14 Jun 9274 9X74 92X8 9274 

9240 BOM Sep 9X35 9275 9227 9215 

92JJ5 8577 Dec 9179 9201 9134 9200 

9179 S*X0 MOT 9173 9173 91X5 9170 

9157 8701 Jun 9143 9143 9143 9145 

9103 8X00 5CP ££ 

9100 0905 Dec 

9X15 8*30 Mar 90*1 

Est. Sales X970 Prev. Solos 9390 
Prev. Day Open lift 39714 aHU4 
10 YR. TREASURY (CBT1 
S1OO0OO prln- pts & 32nds of 100 Pd . „ „ 
85-19 70-9 Jun 84-30 BS-4 84-25 85 

04-18 79-18 Sep KKH 84-2 83-29 83-29 

83-20 75-13 Doc 82-Z7 83-2 82-27 83 

82-24 75-14 Mar 824 82-7 824 13-7 

82-3 74-30 Jun BV18 

Est. Sales Prev. Sales 14130 

Prev. Day Oeen lift 51,195 off 268 
US TREASURY BONDS (CBT) 

(8 pct-SiOGUOOO-ets A 3feidsaf!00 petl 
77-13 57-20 Jun 754 75-11 7*31 754 

76-2 57-10 Sep 74-2 74-11 7W1 74-7 

76-5 57-8 Dec 734 73-9 732 71-90 

73 97-2 Mar 72-11 72-10 72-10 72-14 

72-7 54-29 Jun 71-19 71-24 7V15 71-21 

71- 18 56-29 Sep 70S? 71-4 70-28 71-3 

71 56-25 Dec 70-11 70-17 70-11 70-12 

7H-13 5627 Mar 49-2* 70 69-26 6931 

69- 2 63-12 Jim 69-15 69-16 49-11 49-14 

*9-20 654 S«P 40-27 49 48-34 493 

49 42-34 Dec 40-21 

Esi.SaleslllUlOe Prav.Saies2aS422 
Prev. Day Open Int230b097 up 6438 
GNMA (CBT) 

SKXMHO urtn-pteOXtadsef lOOpet 

72- 30 57-17 Jun 72-15 72-24 72-14 72-23 

72-9 S9-T3 Sea 71-34 724 71-24 72-1 

72-3 99-4 Dec 71-13 71-15 71-12 71-1S 

71-2 58-20 Mar 70-31 

70- 23 58-25 Jun 70-17 

68-31 45 StP 705 

Est Sales 100 Prev. Sales 7TB 
Prev. Dor Open lift 4509 up 157 
CERT. DEPOSIT (IMM) 

SI million- nts of 100 pet __ 

9229 8530 Jun 9X23 9134 92.U 9226 

9129 0500 Sep 9120 9120 *144 9149 

91 JO 0534 Dec 9125 9125 9125 9127 

wjh 8X36 Mar tun 

9QX5 8643 Jun *042 

9054 0744 Sap 903* 

0099 • 8834 Dec _ 9014 

Est Sales 300 Prev. Sates 3*3 

Prev. Day Open Int. UEnfll 
EURODOLLARS (IMM) 
si mlllhmatsot loopet. 

9124 8249 Jun 9123 9125 91X6 V1J2 

9139 8453 Sea 9U6 9130 9126 9132 

9099 0440 DK 9090 f092 9014 9090 


Stock Indexes 


J8 

U 

1X0 

40 

xo 

23 

LM 

tx 

L54 110 

LM 

*3 

132 

70 

109 

44 

Xfir 

S 

2 00 105 

XO 

2 X 

502 

73 

XO 

33 

202 

8.1 

407 nx 

xo 

1J 

235 

7.1 

L29 

33 

39 

25 

30 

13 

200 

SJ 


Commodity Indexes 


1L.1-J1 


dUcaaa Board of Trade 
(Mam Mer c an tile Exdxm 
Interna t ional Monetary Market 
Of Cblcaoa Mercantile Excfianoe 
New Yam Cocoa. Sonar. Coffee Ei 
New York Cation Exchange 
Commodity Exchange New Ygrfc 
New York Mercantfle Exchange 
Kansas aty Board of Trade 
New York futures Exchange 


500 9.9 
Si 13 
230 1U 
*f 440 119 
Of 700 133 
pf 025 1X9 
IE pf 141 U! 
IE nf 133 LM 
IE Pf 70S 119 
IE el I Jt 133 
lot 17.12 143 
IE PI 932 134 
IE Of 930 140 
-1 7 JO 111 
r 7JS 114 
132 X7 
430 44 

£ tt 

40 14 
l 30 S 
232 63 


Asian Commodities 

May 21 


U-SJi per ounce 

Prev. 

HM .Low Seme Settle 

Jun 31640 31540 31*40 32110 

Auo - ■ . ... ■ N.T. N.T. 32040 329.10 

Sep 32140 32140 32240 331.10 

Oct- .N.T, N.T. 32440 33110 

volume; no tors of 100 or. 

KUALA LUMPUR RUBBER 
Motavtkm amts par klk> 

Close Previous 

HM Ask BM Ask 

Jun 19050 19100 191,75 19200 

Jlr 191 25 19250 197.75 19150 

Aug 19425 195X0 19550 19640 

Sep 194.00 19700 197 JO 19X50 

Volume: 17 lots. 

SINGAPORE RUBBER 
Singapore cents per kilo 


Paris Commodities 

May 21 


GkMMt 

men Lew bm Ask arga 

SUGAR 

French francs per metric ton 
Aug 1392 1340 1375 1276 +23 

Ocf 131# 1390 1396 1J00 +20 

Dec 1325 1J10 1316 1322 +29 

Star 1305 WSJ 1368 1370 +29 

May 1425 1400 1415 1420 +33 

Auo 1400 1475 1470 1479 +30 

Ed. vai.: 1490 lots of 50 tonx Prev. actual 
sales: l.im lots. Open Interest: 17336 
COCOA 

French Francs per lee kg 
Mav N.T. N.T. X000 X10O +20 

Jly N.T. N.T. X040 2430 + 20 

Sea 2070 2JJ4B 2069 2070 +10 

Dec 2047V) 2X40 X047 2X40 + 13 

Mar 2X57 2X45 2X55 X057 + 12 

May N.T. N.T. 2X55 — +15 

Jly N.T. N.T. 2X55 — +15 

Est. vol.: 103 lots of 10 tons. Prev- actual 
sales: 100 late. Open Interest: 702 
COFFEE 

French fran c* per 100 kg 
Mav 2420 2420 23*0 2440 +« 

Jly N.T. N.T. 2430 2460 + 15 

Sep X525 2325 2310 2320 +31 

Nov N.T. N.T. 2330 X55D + 15 

Jon N.T. N.T. 2 3*8 2370 + 2D 

Mar N.T. N.T. X140 Z&MS + 30 

MOV N.T. N.T. 23*8 2355 + 30 

Est. vol.: 0 late of 5 tonx Prev. actual sales: 
a late. Open interest: 273 
Source.- Bourse do Commerce. 


RS5 I Jun— 1 67 JO 1*735 
RS5 1 Jly _ 16X50 16900 

RS5 2 Jim- 16700 16X00 

RSS3Jun— 16500 16600 

RS5 4 Jun— 16100 16300 

R5S5Jun- 15400 15X00 

KUALA LUMPUR PALM OIL 
Malaysian ringgits per 25 Ions 
Clgse 

Bid Ask 

Jun 1350 1390 

Jly 1.I50 1 300 

Ava 1X90 1,130 

Sea 1080 1.120 

Oct 1070 LI 00 

nov ixn lxni 

Jan 1030 1060 

Mar - 1030 1060 

Mav 1X20 1X50 

Volume: 0 lots el 25 tons. 
Source: Pewters. 


Previous 
.BM Aik 
14900 16930 

17035 17035 

16X00 16900 

16600 16700 

16200 16400 

157X0 159X0 


n 


Dividends May 21 


0 


London Metals 

May 21 


ALUMINUM 
Sterling per metric toa 
Spot 073X0 07400 06X50 04630 

forward 89500 B95L50 58730 HU0 

COPPER CATHODES (High Grade) 

Sterling per metric ton _ 

snot 1,17300 1,175X0 1.148X0 1,149X0 

forward 1,177X0 1.170X0 1,17830 1.179X0 

COPPER cathodes (Standard) 

Sterling per metric hm 
Spot 1.142X0 1,16400 1,143X0 1.145X0 

forward 1,165X0 1.147X0 1.166X0 U690O 

LEAD 

Staring per metric tan 

spot 292X0 293X0 290X0 291X0 

forward 297X0 298X0 29600 29430 

NICKEL 

Sterling per metric tea 

spot 4 «nm jjum 1 lilt IBl n«nn 

Sword 439200 43000 437000 4372X0 

5ILVER 

Pen c e per troy oeneg 

spat 483X0 485X0 500X0 501X0 

forward 49050 49930 516X0 517X0 

TIN (Woodard) 

Stenin* per metric tea 
soot 933000 9348X0 9455X0 9440X0 

forward 9495X0 930000 9429X0 9430X0 

ZINC 

Sterling ear metric tea 
spot 635X0 *i*m 633X0 min 

forward 646X0 *4450 645X0 646X0 

Source: AP. 


London Commodities 

May 21 


Cash Prices May 21 I 


Coffee 4 Santas, lb 

Printdoth 64730 311). yd _ 

Steel billets (PlttJ.tcn 

iron 2 Fdrv. PM la. ton 

Steel screw No 1 bvy Pm. _ 

Load Spat lb 

Caaoer tried. » 

Tin (Straitsl, lb 

Zinc E. St. L. Basis, lt> 

Palladium, az 

Sliver N.Y. az 

Source: AP. 


S&P 100 Index Opti mum 

May 20 


Strte Qteiaf pub+ad 

Ptici Jm Jlr Am 5*o Ja« Jtr Aug S«g 

MO 239) — — — If]* — — — 

18 194- J - 1/14 V) ft - 

K ffiSSfi IK W»! ft 

J5 IP 4 }£* S* ft- lni ,,fl ‘ 15,14 

IS 5; S & J* UTUIT/MIte » 

M5 2ftfft5Kt 2% )■« 3ft H 

JJ9 JK 41 ^ » » 6ft M M A 

1KSA6--- I IV. - - _ 


S2 

19te 

36 

39 31 

25Mi mt, 
3SM 25 
20U 1!S6 
30 13M 

sm tnk 

15 7M 
47W 31 
23 1014 

30 I6V6 
91% A 
816 6 
61% 

37 
50 

55 

S5 43V. 
05 9M 
57M 4616 
5V, 3V, 

m 0M 

13 7V% 
I7V) KM 
15 M 
lSVh 

14 
2794 
XFR 
14 
37 
36 
39 
441% 


30H 
Wi 
28+i 29 
53(% sm 
Mlfc 14V) 
3MV 37 
221% 2216 
199% 1999 
7V, 79* 

79% 79* 

7M 796 
44 44 

58V) 589) 
521% 521% 
51 
40. 

51 
39b 


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pf 220 1*3 
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345 1196 
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C — Mi 
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11*6— 1* 
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40VS— 96 

TW i 

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13**— 9% 
30 — «h 

iota 

3 — 9 % 
W%- 96 
Wta— 9* 

3Mb 309* — 9% 
IN* 19 
27 37 — 94 

im tin - 9* 
4) 41 

3thb *496 
4H6 459* + 9% 

am m 
29* a*t 

749* 74ta— V* 
1* It —*■ 
14 14*6— 9% 

SM SM— M 
3Sta 3SM— U 
34 ta 3*96—16 
* * 

5096 319* + 16 
4346 449* + H 
8 IM + M 
359* 359b— 9* 
439* 43M + M 
U 16 —9* 
W 1896 + M 
XIV* 339%— 9% 
14(6 1496 + 9* 
4»ta 65 +96 

KM 36 + Mi 






Previous 

Bid 

1328 1370 

i.i-a? im 
1060 1,110 
1X60 1090 

1X60 ixn 

1X30 1X60 

1X20 1X50 

1X20 1X50 

1X10 1X40 


Company Per Amt Pay Rec 

REDUCED 

Dominion Textile O .12 7-15 6-1] 

SPECIAL 

Boston Bancorp - X4 %-JO 5-31 

STOCK SPLIT 

Washington Federal S & L — J-for-2 
USUAL 


IJ.S. Treasury BBH Rates 
May 21 


oner BM YMd Yield 
3-month 731 734 732 7jf 

Unonlti 741 73* 7X1 7X1 

One veer 743 741 821 (30 

Source: Sotomoa Brothers 


Richardson Savinqs & Loan 


UHiKa-Mil-lTiiMl* 


Cayiran isijnas wesi indies 


Boston Boncerp Q .10 6-30 5-31 

Century Tele Enter Q 20 6-14 5J1 

CertainTeed Cera 0 .17 \% 6-J1 M 

Conn Natl Gas Q 40 6-27 +13 

CoreStates Find Q J2 7-1 6-7 

Craddock Terry Sti Q .14 7-1 +U 

Detroit Edison Q jQ 7-15 +20 

Cdfton Oetralt Ca .42 7-15 +20 

First Eastern Q 33 h. 7-1 +5 

Firs! Wyoming Bncn Q 30 7-24 6-20 

General Nutrition Q X4 6-13 5-31 

Goodrich (BF) Co Q 39 &-M +7 

I.CRCorp _ 35 7-12 4-14 

115 Intel I. Info 05 6-4 5-21 

Kellogg CO Q A* +14 6-4 

Limited Inc Q 08 +25 6-7 

McCormick Ca 0 .22 7-ID 6-2* 

NAFCO Fnd Group Q 25 +24 +5 

Nlh western Fuel - .17 7-1 6-14 

OM Kent Ffid O 25 7-15 531 

Peabody Inti Q 05 7-1 +15 

Penn. Enferps Q 35 6-15 6-1 

Putnam Trust Q 27 7-1 4-7 

Semarmatlc Elec. S 02 VS 6-ld 5-31 

Swift moeoendent Q 2® 7-1 5-30 

Trtrt Joist Cora Q .TO 7-17 4-34 

Utah P & L O 48 7-2 +5 

A-Annaa); M- Mo n thly: (Mtaarlerlv.' S-Setnl- 
Aim gal. 


Gold OptHHISdriMiiSfiB). 


SUGAR Hm M « 

Sterling per metric ton 

SfrH SMS.E- 30 wao 

Oct 102X0 9820 mm 100X0 1002B M00 
25? ,fli20 J °54» WM0D 10540 701100 

Mar 120X0 11640 118X0 11840 11820 11840 
MOV 12240 12140 12140 12JL3® 13M0 12200 
!H^5 33?- 40 120X0 12740 12000 
Oct 13240 13240 13140 133X0 132X0 13220 
volume: 1406 lots ei 50 tons. 

COCOA 

Sterling per metric ten 
May 1350 1344 1,735 1345 1344 1345 

Jly IXS 1373 1381 1382 1372 1374 

Sen 1375 1365 1372 1373 1364 1366 

D0C 1349 1343 1346 1347 1341 1342 

Mar 1.759 1.755 1355 1357 1353 1353 

May I37B 13*8 1367 1370 1365 1367 

Jly N.T. N.T. 1371 1,785 1370 1377 

Volume: 1338 lataal 10 tons. 

COFFEE 

Sterling per metric tan 

MOV 1040 2X23 2X26 2X27 2X06 2X10 

Jly 2X95 2X63 207* 2077 2X53 2X57 

Sen 2,139 2.107 2,116 2.119 2X99 2.102 

N<" 2,175 2,150 2.158 2,163 1136 1139 

JO" 1210 H80 11*1 1195 1163 1172 

Mar 2.165 1165 1165 1180 1148 1160 

May N.T. N.T. 1145 1100 1110 1140 

volume: 2X92 Ion of 5 tons. 

GASOIL 

ua dollart per metric ion 
Jun 21*35 21625 216X0 21635 21150 21535 

JIT 71625 21435 215-50 21535 21435 214JD 

fug 21725 216X0 71635 217X0 21S35 21535 

Sim 21925 218X0 21035 21900 21735 71732 

Oct N.T. N.T. 22035 7770" 218X0 770 na 

No* N.T. N.T. 222110 22500 218X0 223JD 

Dec N.T. N.T. 22300 23UH 220X0 ZSLB9 

Jg" N.T. N.T. mXO 22935 22059 234X0 

Feb N.T. N.T. 22100 22935 22100 «S06 

volume; 729 lets of 100 Ions. > 

Sources: Ptvlen and London Petroleum £%- 
cnanoe foostnl). 


Trtd cadwtam 325836 
TUN con epm 1st. 4(0519 
TWalBOt HUM 15*585 
Tew get mm teL 272499 

Hll%ll44f Lor HUB Ctoe 181X3 *101 


DM Futures Options 

May 21 

«. Goncn Ihsk-TSOH mots as* per an* 


SU*te CMMema PnteSetUe 

JM* J« 5» Dec jga see Dec 

31 137 147 290 ate asa 00s 

5 0.9* L01 «7 Sun m iS 

D M Ut 171 2J] o A 

34 an 0.92 107 108 1 91 220 

35 005 042 IX* J0O 2M 

3* 002 0X3 000 _ lh 3X4 

Ei ftm ated Mai ml 7,903 

Cntti: Mon, vai. 6*q cuts ha. <9398 

Puts : Mwi. vgl. UD7 spm M. 3S71 1 
Source: CME. 


* £ 


45J* 

2846 OucilcOs 

134 

20 

12 

1067 

45 

<49% 

449* + I* 

TOH6 

*m% GuoOpf 

*56 

*X 


400UW1H 1014* 101 H + 16 

2Z46 

IS 

GuokSO 

XD 

19 

» 

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21 

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2046— W 

1116 

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3) 

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7** 

79* 

79*— 16 

3446 

23 

Qyiltqy 

1X0 

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10 

10* 

3396 

3246 

321* — 1% 

2516 

14 

OkRoD 

340 IX 

18 

217 

241% 

231% 

2W- U> 


iE2EE 


ValensWUteWeM&A 

I. Quai Bn Mm-Buc 
1211 Ceom I. SwftHftand 
T«L 310251 - Tele* 28305 


Canad a’s Factory Orders Rise 

The AsuKialnl Pros 

OTTAWA — New orders to Ca- 
nadian manufacturers rose 0.4 per- 
cent in March from February, the 
government's statistics agency re- 
ported Tuesday. Orders had fallen 
I percent in February. 


Trade Surplus 
Narrows in Japan 

Reuien 

TOKYO — Japan's customs- 
cleared trade surplus narrowed to 
$535 million in die first ID days of 
May from an $820 million sutplus 
in the same April period and com- 
pared with a $136-miltion deficit a 
year earlier, the Finance Ministry 
said Tuesday. 

Exports in the first 10 days of 
May rose 4 2 percent from a year 
earlier to a rounded $4.0] billion 
after a 13.9-percent year-to-year 
rise in the like April period. 

Imports were down 118 percent 
from a year earlier at $3.47 billion 
after a 20-percent gain in the like 
April period. 


509% 32U Xansc 000 40 21 2904 5Q1A 4*46 90 —8* 

34 43U Xaraxpf 5X3 1W 3 54M 54 54)* + * 

V 19 XTRA M 2X 11 57 Z71? 3»t% 77» + ta 


2L. ^L. 5®iSS2 ^ 61 f 41 2)46 27 HM +-ft 

2«6 n% Zapata X u» Ifl IM n 12**-- 

S’* 5 ISUIIbh - Wh * w 1273 7146 709% 719% — %' 

3? « ZUVTBWl ), U JM rnfc Tfc 

M 10M ZWUHlE 8 923 22W W* mta— 16 

214* 144* Zeros 02 IX IS 97 10V6 1746 10 — 91 


NYSE HIghs-Lows 


May 21 


179% 
lOM 
42 
Mr 

T7M IBM 
396 39* 

64 44M 

«6 91k 

451* 46M 
86* FM 
Wft 19 
22 22 
139% IM 
996 946 
BM 8V* 
BM BM 
M 
39 
7 

IM 
946 
4744 
20M 
2*9* 

5796 
M96 
79V* 


Company Earnings 

Revenue and profits. In millions, are In local 
currencies unless otherwise indicated 


Britain 

ScAnabury { J.J 

Year 1986 1983 

Revenue 1140. 2090. 

Prato* Nat— 156X 1300 

Per Short 0.1561 0.128* 

United States 

Ass. Dry Goods 

ittQuar. IMS WW 
Revenue — *3W 81 W 

Met ine. « 5X7 

Per Share 0X7 006 

<3H Industries 
MQsar. IW VM 
Revenue __ , 2270 EU 

Net Inc tOW.95 1231 

Pbt Share— — 032 

a: loss. 

Deere & Co. 

wictaar. im rm 

Revenue 1.100. 

P^sSrTZ 052 » 

im » 

oil 

Evans Produds 

manor. 19M 17** 

Revenue — 27>J3 2009 
N»f Loss , — 39X7 26X5 


Pimvy (J.C) 

IM Qaar. ins lVH 
Reyenuo 1ML 23*a 

Per Omr. R5 S? 1 ® 

Per snare— 0X7 0.92 

Sanders Ass. 

*rd Qaar. 1*ts ifu 

Revenue 2I9X 192X5 

Net Inc .... 600 lag 

Per Share ag 

_ f Monffts ms 190« 
Revenue — 63o si 7, 13 

Net Inc. 2232 2808 

Per Share — 1.1| ijB 

Tolerate 

tadOuar. ms TVM 

Revenue 3&,9 jjj 

Net Inc. 8X6 i>.m 

Per Shore — 020 006 

li* Half IMS t984 

Revenue .71.1 530 

Netlns.— 1604 1U6 

Per Share — 038 000 

IM Merdica i ta 

3rd Qaar. 1*85 im 
R evenue — . 2230 iSt 
OoerNef — Ijg ?S 
Oaer Share.. 033 SJJ 

T Months ins iff* 
Revenue — . 0210 onj 
Oaer Net — fa ra 
oner Shone— 1x1 OX* 






















































































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FOR THE LATiSnAORD ON 


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t t ic J uobi y from ad pub Ut ed ■» Hty 216 


Oesterreichische Kontrollbank 
Akriengesellschaft 

Ui. S7 Si00Si 0H Gooranteed FloaHno Rate Notes 1986 
Notice is hereby given pursuant to the Terms and Conditions of the Notes thaff for 
the six months from May 20th, 1985 to November 20th, 1985 the Notes wtf carry 
<pi interest rote of 8% per annum. On November 20th, 7985 interest of 
Uii. S222.01 wiR be due per 11^. S5J100 Note for Coupon No. 9. . 

European Banking Company Limited 
(Agent Bank) 

20th MOV, 1985 


A 


Jbr’ 


COLUMBIA SECURITIES N.V. 


In accordance with the decision of the Annual General 
Meeting of Shareholders held on Wednesday 15 May 
1985, the dividend for the Financial Year 1984 is fixed at 
fl. 0,60 per share of nominal fl. 50,00'each. 

The dividend shall be paid as fiFCMn 28 May 1985 at the ' 
office of Aigemene Bank Nederland N.V. or at Bangue 
de Neuflize, Schlumberger, Mallet! Paris. 

Holders of CF shares will receive their dividend through 
the intermediary of the institutions where the dividend 
sheets were in custody at office closing time on’May 15, 
1985. 

Mr. Roger Desaint, Chairman and Chief Executive 
Officer of Compagnie G6n£rale de Gdophysique, was 
appointed member of the Supervisory Board. 

Amsterdam 15.May 1985 

The Management 



s' 


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The measure of excellence 





























































Pane A6 


INTERNATIONAL HERALD TRIBUNE. 'WEDNESDAY. MAY 22, 1985 


O v» ?r-the-Counter 


N ftSDAQ National Merkel Prices 


sales in Nef ( 

IHS Hfcjh Low 3 PJW-CH'BP I 

80 2V, 2 2V* ! Cmsrve 

Hr a Him 17 17% +■ - Comanr 

7811** I1H MS* * Ccmsxk 
HUM 12% 12% - V s*™*™ 
13 7V 7V 7V — ■ % t Comic n 


May 21 SSf& ~ 

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J ££5c »' W *s B? £7 


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595 lPSfc IS * lf% — '«* AvntcK 
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6712 V; 22 72 — to AitcM 

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71225 J4V 24*5— <• 
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40 32 31b 33 

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Sain in Nei sales I 

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The world’s fastest growing international brand. 
Ifs a whole new world. 


Global Natural Resources lid 

A Scheme of Arrangement dated 17th May 1903 
providing, among other things, for the exchange of 
bearer shares of Global Natural Resources Limited, 
formerly Global Natural Resources PLC, a company 
organised under the laws of England <Global t UK), for 
registered shares of Global Natural Resources Inc., a 
company organised under the laws of the State of 
New Jersey, USA (Global-US), became effective in 
July 1983. Pursuant to the Scheme of Arrangement, 
the issued and outstanding shares of Globat-UK 
have been cancelled.They entitlethe holders only to 
obtain registered shares of Global-US in exchange 
for their bearer shares of Global-UK and have 
otherwise ceased to have effect. 

Holders of shares of Global-UK will not be entitled to 
receive dividends or notice of meetings or be able to 
vote or otherwise participate in the affairs of Global- 
US unless and until their bearer shares of Glo bal-UK 
and the Form of Application to receive registered 
shares of Global-US, legibly completed, are received 
by theExchange Agent named belowand the shares 
of Global-US are registered in the name of such 
holders. Accordingly holders of bearer shares of 
Global-UK are strongly urged to write to one of the 
addresses given below to obtain Forms of Application. 

Forms of Application may be obtained from the 
following: 

Exchange Agent: 

Registrar and Transfer Company 

Attn: Exchange Department 10 Commerce Drive 
Cranford, New Jersey 07016, USA 
or from: 

Global Natural Resources Inc. 

5300 Memorial Drive, Suite 900 
Houston, Texas 77007, USA 
or from: 

Hambros Bank Ltd 

Attn: Stock Counter, 41 Bishopsgate 
London, England EC2P 2AA 



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:||^Ierrin Lynch 
;.:';ftires Europe, 
^ Mideast Head 

ItVemaBonal Herald Tribune . 

Vr>. LONDON — Merrill Lynch & 
■i<. ^ Co. confhmed Tuesday that it tad 
ji -hired Stanislas Yassukovich, a pio- 
V] draper of the Eurobond market, as 
p;. ^ vSainnan of its operations in En- 
'p tope and the Middle East. 

■! Die appoinnneot of Mr. Yassu- 
kovich, 50, was foreshadowed earli- 


er ihis month when he abruptly 
resigned as dnef exeaniverf Euro- 
pean Banking Ca, a London in- 
vestment bank. Ml Yassukovich 
had favored" the sale of. EBC.to 
Merrill, but other scmorEBC aa> 
utives rejected the idea. 

The seven European banks that 
own EBC arc hdomg talks aimed 
at sefiing the bank, beset fay faffing 
profits m recent years. Toe most 
likdy buyer is Aetoa Life ft Casu- 
alty Ca of the United States, a 
source ^ ov*- 'to the negotiations 
said. Die asking price is believed to 
be £25 wrflKnn to £30 (S32 

minion to $38 million). r 

Mr. Yassukovich takesup his 


new post as MoriH prepares for the 
opening np of the London stock 
market to greater participation by 
foreign banks and securities 
booses. He said the job win allow 
him to develop one of Ins pet 

themes: the growth of a global mar- 
ket in leafing equities. 

The equity markets wiE follow 
the evohmon of the bond markets 
and become more international- 
ized," Mr. Yassukovich predicted. 

Dow Chemical Co. said Frank P. 
Popoff has been named an execu- 
tive vice president arai a member of 
the executive committee. He will 
move to Dow’s headquarters in 
Midland, Michigan, and will be 


succeeded as president of Dow 
Chenncal Europe in Zurich by An- 
drew J. Butler, formerly commer- 
cial vice president of Dow Chemi- 
cal In bis new post, Mr. Popoff will 
have responsibility for ah of Dow’s 
nop-U-S. operating areas. He also 
assumes responsibility for the glob- 
al operations function and for 
global employee relations, 

J. Henry Schroder Wagg ft Ca 
said Michael Ladenburg. a direc- 
tor, will become the London-based 
merchant bank’s resident director 
in Japan. His responsibilities will 
cover the activities of the Schroder 
Group’s two representative offices 
in Tokyo. 


REAL ESTATE 
TO RENT/SHARE 


PARIS AREA 




Service 


75008 feit 

YOUR REAL STATE 


REAL ESTATE 
WANTED/EXCHANGE 


(Continued From Back Page) 


AUTOS TAX FREE 


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S23E23HI 



FOR SALE ft WANTED 


EVTERNATIOIVAL CLASSIFIED 


LEGAL SERVICES 


irr 



Chaw m Begone* ■ 

to ItwGHBC tSLAM>S 
EGYPT, ISRAEL ft TURKEY 

CHOICE OF 7-4-3-2-1 DAY - 




YOUNG LADY 

PA/Intapretar & Teoran Gads 


CUHSB eirtrf Mmm {Hue*) \ PARIS 562 0587 


* . . STEUA 

% SOLARIS 
’AND 14 DAY CRUISES 

To the Greek Hondt, Torfsey, ■ 
Egypt AbraeL 

ieSng Every Monday from firoew 

, THE YACHT-LUCE 
STRIA 
OCEANS 

LAND 4 DAY CRUISES 

tthe Greet Bonds & Turkey. SoAng 
try Monday -A Friday from nraeu 


YOUNG HKANTIADY 
PA. PARIS 525 8T OT 



ae apply to 


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-fin. 215601. 


ndoy -& Friday from ftraeui 

Somes ft. Alh em. 1056 8 
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I WAS PRAYING FOR 
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BUT I QUIT- 


I WAS AFKAiP I 
MIGHT GET IT J 


MAILER; His Life and Times. 


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14 Roman cloak 

15 Steamship 

16 Ornamented 
18th-century 
hairdress 

17 Alda or Arkin 

18 Scheme 

19 Merit 

20 Irene, e.g. 

23 Type of map 

24 Weapon, in 
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25 Small 
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27 Virginia 

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33 Split 

34 Arabian chief 

35 Bulwark 

38 Foot: Comb, 
form 

39 Sprint 

41 Oiinchilla’s 
cousin 

42 Cavalry 
swords 

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48 Hurl 

47 Thin nail 


48 She wrote 
■'The Poor 
Little Rich 
Girl” 

SI Pazvobiscum 

56 Powder 
ingredient 

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58 Moat 

59 "Thirty 

days . . 

60 Torpid 

61 She- bear, to 
Seneca 

62 Gaelic 

83 Misplaces 

64 Fa] If all er 


1 Hart 

2 Marco , 

Venetian 

traveler 

3 Minced oath 

4 Cooked in 
sugar 

5 Category 

6 Flush with 
water 

7 Metal bar 

8 Ego 

9 Trainers 

18 Soft-shell clam 

11 Calumets 

12 Raison d' 

13 Cozy room 

21 Record 


22 Palindromic 
conjunction 

25 Actor George 
from Great 
Neck 

26 Indian 
treaty devices 

27 Bookkeeping 
pro 

28 Chris 

Lloyd 

29 Cincinnati 
team 

38 Heavenly 
instrument 

31 Evel Knievel, 

e.g. 

32 Likely 

38 Crazy 

37 Be silent, to 
Solti 

40 Otalgia 

43 Shy 

45 Pouch 

48 Chromosome 
constituents 

49 Conscious 

50 Inclines 

51 Jack .TV 

personality 

52 "There Shall 

Night": 

Sherwood 

53 Ancient times 

54 Tasmania's 

Mount 

55 This includes 
SACandTAC 

56 Tea, In Tours 


BEETLE BAILEY 


Mfal Ml 36 \ o, 

BUXLGVPIP I V 
A GREAT JOB I 
ON THIS / 
REPORT 



© New York Tones, edited by Eugene Malabo. 

DENNIS THE MENACE 



WIZARD of ID 


£)PES,THIS? UTtLEs Y 1 

KUO# W0N “ffle R5WU 

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522. 


REX MORGAN 


CLAUDIA AND 1 
HAVE SEPARATE CHECKING 
ACCOUNTS i we HAWE A JOINT SAVINGS 
ACCOUNT / ALTHOUGH SHE'S BEEN 
EARNING /WOKE THAN l, SHE HASN'T 
CONTRIBUTED ANYTHING TO THAT 
- ACCOUNT FOR ALMOST SIX MONTHS/ 


6Of&&rUl4r,0N$; 


m 


1 MENTIONED H ONCE AND 
SHE SAID SHES BEEN SPENDING 
OUfYE A BIT ON CLOTHES-- AND 
1 ACCEPTED THAT BECAUSE IN 
HER LINE OF WORK SHE MUST 
DRESS NICELY/ 



l LOVE A\y WIFE. 
DR- MORGAN*— BUT 
1 DON'T KNOW HER 
ANYMORE / 




*WHAT DID 1 TEU.'tOU ? He's SNIFFING THE AIR... 
NOW HE$ LCXKIN6 THIS WY„ AND HERE HE OWES!' 



THAT SCRAMBLED WORD GAME 
« by Henri Arnold and Boh Lee 


GARFIELD 


AMP GIVE IT WINGS/ J 


Unscramble these (our Jumbles, 
one letter lo each square, to farm 
four ordinary words. 


TILUQ 



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Via Agence France-Presse May 22 

doling prices in local currencies unless otherwise indicated. 


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isn N.a. 
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Now airange the circled letters to 
fonn the surprise answer, as sug- 
gested by the above cartoon. 


Prevlevs : 1822JB 


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Yesterday's 


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825 805 

277 

SI Helena 

3800 3925 

325 

Sawn 

480 STB 

257 

West Hokflna 

4850 6850 

226 

234 

243 

CNMlh Sleek index : INI JO 
Previous : IMU0 


Straits Unwind Index : 82548 
Previous : nut 


By Peter Manso. 718 pp. Illustrated. 
$19.95. 

Simon dc Schuster, 1230 Avenue of the 
Americas, New York, N- Y. 10020. 

Reviewed by f 
Christopher Letunann-Haupt 

T HERE is a sense in which Peter Manso’s 
“Mailer: His life and Times” seems ridicu- 
lous. More than 150 people talking for nearly 
700 pages about a single American writer 
whose work is far from completed. Rebashings 
of such desperately trivial issues as why Alpha 
stopped speaking to Beta, or wfaai Delta really 
said about Epsilon. Contemplation of rite 
wives, the babies, the book contracts, the fisti- 
cuffs. the bitten ear, the stabbing. And every- 
where the writer’s mother, Fanny Schneider 
Mailer, chiming in as if she were a Greek 
chorus doing a parody of a Jewish mother. 

And yeL try tapping into Manso’s interviews 
without becoming addicted. Try skimming the 
text without getting hooked in die unfolding of 
Norman Mater’s career. There's stuff here 
you never knew even if you've read everything 
ever written by or about Ihe man. For instance, 
though Mailer has always said he never met 
Marilyn Monroe, the actress Shelley Winters 
insists that she introduced them in 1948 and 
that Monroe entered Mailer’s name on a list 
she kept of fantasy lovers. 

There are wonderfully incisive statements on 
the many qualities that are particularly puz- 
zling or controversial about Mailer. Especially 
fascinating are the interviews with Mark Lin- 
en thaL, a friend of Mailer’s at Harvard; Ade- 

pioned “The Naked and^^^^^^hen she 
was an editor at Little, Brown; and writers 
including EL Doctorow, George Plimpton 
and Diana T rilling 

Is it mostly gossip? Maybe, But it is gossip of 
a somewhat higher order to learn why Mailer 
and Norman Podboretz fell out river the 
former’s review of the latter’s "Making If or 
why Mailer scaled down the enthusiasm of bis 
blurb for Trilling's collected essays, “We Must 
March My Darlings.” These incidents impinge 
on the culture of our recent past, at least the 
hothouse of recent New Yoix culture, which 
has bred shoots of ideas that may have shaped 
the national agenda. 

There are persisting themes — Mailer’s pro- 
fessionalism and dedication to the job of writ- 
ing, his loyalty to friends, the gentleness of his 
private persona as opposed to the raucous 
exhibitionism of the down he has so often 
played is public. There are also the dubious 

Solution to Previous Pmzfe 


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deg anna 
□□□EdOGaoDaaana 
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GGEE QHEGQ EUEGQ 

□EGG □□□□□ □□□□ 


BOOKS 

* 

to*™®* 


nesses think Mailer wifi t*** ^ 

book be has been promisirig.OiheB«y hls “ 

am o u nt s to the gnat American nwra. 

Mailer’s life can arguably be ^ 
sent the excesses of 

theme insuffidenUy explored by Mansa True, 
several witnesses comment on Mv&s 
Bar relations with Judaism. But I 
ing Mailer’s maternal grandfalhCT. ChaLm 
hudah Schneider, the unofficial rabbi rfLOT* 

Branch. New Jersey. S 

Mailers oldest cousin as the source :of alljw 
brains and talent.” be is introduced in the 
opening pages of the book aDd ^f ver ,,5^S 
Sn^l5iereafKr. Yet it is his unacknowledged 
spirit in the book that makes one see Mailer s 
life as a drama of assimilation. 

Christopher Lehmann- Haupt is on the staff of 
The New York Tunes. _ 

bestsellers 

TW New York Tones 

consecutive. R 

FICTION lb, WcAi 

w«t*.saLrt 

1 THINNER, tn' Rkhand Bachnan 1 12 

2 CHAPTERHOUSE: DUNE, by Frank 

Herbert - J 

3 THE HUNT FOR RED OCTOBER. By 

Tom Oancv ; 5 ' . 

4 THE CLASS, by Erich Serai.. 7 4 

5 IF TOMORROW COMES, by Sidney 

Sheldon — * if 

6 FAMILY ALBUM, by Dankdk Sled 6 ' > 

7 INSIDE. OUTSIDE. By Herman Wouk .. 3 V 

8 HOLD THE DREAM, by Barbara Taylor 

Bradford, — — — 1 

9 THE LONELY SILVER RAIN, bv John 

D. MacDonald » J 

10 QUEENTS- by Michael X.orda *» .5 

11 PROOF, by Diet Francis H 

!2 GLITZ, by Ebnorc Leonard 10 ^ 

13 A CREED FOR THE THIRD MILLEN- W 

IUM. by Colleen McCullough 13 

. 14 HOTEL DU LAC. by Anita BrooLucr — — * 

15 MEN AND ANGELS, by Mary Gordon 12 3 

NONFICTION 

t tACOCCA: An Auxsbiograpby. by Lee la- ’ 

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2 adART WOMEN. FOOLISH CHOICES. . 

fay ConneO Cowan and Mrfvyn Kinder „ 2 " 

3 A PASSION FOR EXCELLENCE, by 

Tom Peters' and Nancy Austin — 10 2 

4 BREAKING WITH MOSCOW, by A r- 

fcady N. Shevchenko - 3 12 

5 ONCE UPON A TIME, by Gloria Vandcr- 

Hit 5 3 

6 LOVING EACH OTHER, by Leo Bnmft- 

lia ; ; ■ 4 JR 

7 THE COURAGE TO CHANGE, by Den- 
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8 THE SOONG DYNASTY, by Slating 

Seagrave 7 5 

9 THE BLOOD OF ABRAHAM, by rnnmy 

Carter - 8 A , 

10 MY MOTHER'S KEEPER, by BJJ. Hy- #* 

it “SurSly~"yoltre joking, mp! • ; 

FEYNMANN." by Richard P. Feynmann II 10 ' 

12 THE BRIDGE ACROSS FOREVER, by ■ 

Richard Bach ; 9 37 

13 AUGHT IN THEATTIC. by 9>d Sihcr- - 

stem : ; .12130 

14 METAMAGICAL THEMAS, by. Douglas 

R. Hs&tadtec. ; I — 1 

15 CONFESSIONS OF A HOOKER, by Bob ■ 

Hope «hh Dwayen Netfaad — 1 

ADVICE, HOW-TO AND MISCELLANEOUS ! 

1 NOTHING DOWN, by Robert G. ADen • • 1 24 

2 THE FRUGAL GOURMET, by Jeff 


by Ar- 


il 10 i 


NEW COLLE- 


By Alan Truscott 

A transfer auctioi 
the winners of tin 


A transfer auction aided 
the winners of the mixed 
pairs on the diagramed deal 
South elected lo open die hand 
shown with two no-trump, 
judging that the powerful dia- 
mond suit would compensate 
[or the slight shortage of high 
cards and the weakness m 
spades. His partner's transfer 
followed try four spades was a 
mild slam try, but he was not 
inclined to aocepL 
The primary purpose of a 
transfer is to arrange for the 
lead to cock up lo the strong 
hand, and that was a vital fao- 


BRIDGE 


tor here From the South posi- 
tion, four spades was unbeat- 
able, and m practice South 
made an overtrick. After a 
heart lead to the ace. Fast tins' 

moad5jJ^ thandnbs. The 
trump ace was then the second 
and final trick for the defense. 

At many other tables four 
spades was played, quite nor- 
mally, from the North position 
and was defeated by a dub 
lead. Ute defenders were able 
to collect a dub raff as weQ as 
the chib king and two aces. At 
douWe-dimmiy North could 
survive the dub lead by taking 
the ace and leading a heart to 


break tbeddemave communi- 
cations. ' 

■■■■ : lwiaH •: 
^XQJ7«3. 
>03 , l 

■ . ■. I 

; • . *j»74 • 

WEST EAST* 

Ur-9 Saw 

• » . - «HI2 

SOOTH (D) 

♦ S* 

0K3-' 

* AKQJ7S 
. *AQ5 

EM Ml Wwt ware votaMbk. 
IhhUtta: 

M M NMk EM 

SILT.- PM 19 PM 

1* PM. t* PM 
Pm Pm pm 
WM t Mthe bout M. 


Bk East Asia 

AJIPjCBS General Index : mM I gwuna Kano 
PrevhMn : M7JM JOiinoGes 


China Gas 
China LlgM 
Green island 
Hang Seng Bank 
Henderson 
hk Eledric 
HK Really A 
HK Hotels 
hk Land 
HK Shang Bank 
HK Telephone 
HK Wharf 
Hutcn wnamnoe 
Hyson 
inti City 
Jardlne 
Jardlne Sec 
Koertaon Motor 
Miramar Hotel 
New World 
Orient Oversees 
SHK Proas 
Sielux 

Swire Pacific A 
Tal CtMung 
Wah Kwong 
Wheeiock A 
Wing On Co 
Wlnsor 
World Inn 



77.10 27^0 
1480 14.90 
1050 10.60 

14.10 16J0 
8J0 aeo 
_S2 3250 
115 2.175 
835 US 

11X0 11^*0 
3450 3450 
580 5«S 

430 B.® 

»S 98 
450 455 

■2A 243) 
041 042 

089 0.91 

11 >0 1150 
1180 1180 
955 1140 
1105 3123 
755 740 

115 115 

12 I2J0 
240 Tra 
3410 3420 
15V 188 

154 140 

755 725 

120 IIS 

5.10 5.15 

110 115 


Kang Seng Index : 141122 
Previo us : H3M7 


Banco Comm 

Central* 

Cleahafets 

Cm) llal 

Erldanla 

Parmttaiia 

Flat 

Flnslder 

Generali 

IFI 

iMcenmantt 

llafgas 

Itaimoblllafi 

Mediobanca 

Montedison 

Olivetti 

PIralU 

RAS 

Rlnasceme 

SIP 

SME 

Sola 

Slanda 

sret 


Stockholm 


19310 19200 
3300 3220 
>390 B270 
2205 2190 
10205 1(005 
14050 13730 
3299 3302 
100 10033 
0280 48490 
8351 8299 

90750 90000 
1500 1499 
B3T20 84100 

iinioo 99800 

1700 1694 
6S94 4550 

73990 72200 
800 789 

2115 2009 
1594 1455 

3500 3174 
15230 15150 
2870 2BBQ 


AGA 

Alfa Laval 

amo 

Astro 

Atiofl Capca 

BaUden 

Electrolux 

Ertcsaon 

Cseette 

Handel abantum 

Pharmacia 

Soab-Scanlo 

Stxxjvlk 

Skanska 

SKF 

5«mdlshMaMi 

Volvo 


395 395 

185 185 

325 325 

435 <35 

115 115 

197 195 

293 302 

294 290 
NO. — 

143 147 

N:a I Nomura Sec 

382 MjQ. lOtvmous 
90 9150 
218 220 
205 208 

228 224 


AffMttvaertdai Iwfez : 38940 
Previous: 38631 


MJB Current index : 1391 
Previous ; 1288 


Air Uqulde 
Aismom Atf. 
Av Dassault 
Bancalre 
BIC 

Bono rain 

Bauvoues 

BSN-GO 

Carreiour 

Choraeuri 

Club MM 
Oartv 

□umez 

Elf-Aaullalna 

Europe 1 

Gen Eoux 

Kochetie 

Lafarge Coo 

Legrend 

Lesleur 

1-Drool 

Marleli 

Motru 
Merlin 
Michel hi 
Moet Hennessv 
Moulinex 
Ocddentale 
Pernod Rle 
Perrier 
Petroles itse] 
Peugeot 
Prime mas 
Rodlotechn 
Redaute 
Roussel Udaf 
Sana (I 

Skis Rasslgnol 
Teiemec u n 

Thomson CSF 


648 648 

.300 305 

1420 1470 

619 412 

552 532 

1920 1910 

MB SOB 

£2 IS 
SI S 

532 527 

1350 1350 

725 491 

22250 222 

BS0 911 
435 429 

im 1897 

545 

2220 23 !0 

480 488 

2527 2510 

17M 1740 

1800 1811 
2000 2005 

.251 wo 

1930 1901 

9930 9860 
715 m 
7S7 754 

53* 538 

275 JO 27*90 
339 34050 
254J0 2S4 

292 293 

1499 1439 

1730 1770 

750 737 

1560 1550 

2340 %m 
553 548 


Agefl index : 2I4J2 
Previous : 21422 
CAC index : 223J34 
Previous : 221 JO 


Akal 

Asahl Omn 

Ascdii Glass 

Bank of Tokyo 

BrMgestene 

Canon 

Casla 

C.llah 

Dal Nippon Print 
Dalwa Hawse 
Daiwa Securities 
Fonuc 
Full Bank 
Full Photo 
Futltsu 
Hitachi 
H Kochi Cable 
Honda 

Japan Air Unes 


<21 420 

995 964 

877 873 

820 814 

.518 520 

1240 1210 

’2? ’ffl 

403 388 

1040 1030 
610 422 


its R 

1M0 1110 
794 778 

712 708 

13S0 1330 
7010 7120 



*12 nm 

*m* 1T « 

flBVS IBM 

71b-.. H 

186 105 

MB +-3 

IS 

*7314 1314 

JUS Ml* 

gjgi 144* 

8?5 S* 

4 -fell* 


Total safes: umjaiu awns 


271970 


WHAT WOULD UFEBEUKH 

wm-ojrrr? 


EACH FRIDAY IN THE IHT 

































INTERNATIONAL HERALD TRIBUNE, WEDNESDAY, MAY 22, 1985 


Page 19 







SPORTS 




ion Verona Shakes Up the Status Quo 


Jiaemetiemd Herald Tribune 


in S Mju£\ S " iM ’ O ”o\V ' LONDON — One cannot be sure they 
* i J1 ' t n R..'^apc all gcntleiiicn in Verona, but haw naod- 



,ri 

Uf* a , \r. Sisal 
«■» 


*1. .1 'lltvrif im»wv»hh Mtw ^nnuii 

■' ‘"Asiiijk. i While others scrambled to 

- 1 * 1 l ttlli| ■>. or fKo «w'»r Molo «. 



<i|6f lire at the feet of idols Maradona and. 
Rjimmenigge. Socrates and Zico, Verona 
bided its tunc, picked up scraps and blend- 
ed a team to beat tht^n att. 

•• . Verona’s pofte warning two 
f 7*S, when it ted the campioruao for 
' C-LLtJj was ignored after it fcfl away to fourth 


too dd, too conqtewent or too sated with 
success. 

1 Maybe &OSe things let Verona in. Break- 
ing Italy’s hig-dty monopoly is certainly 
rare: Gagfiari, m 1970, was last to do it, and 
CagEari has twice since fallen into Scrie B, 
the second ttivisanL 

Few of the 36,000 revelers in Verona’s 

Pbwrote OHmpm last Sunday gave a damn 
wfaat became of Cagliari. Yet, wide apart in 
temperament and geography, the two dobs 


jv 




'* *V si 


;i<t 


Fifteen years ago. Cagliari's coach, Man- 
Bo Scopigno. had a striker name d Gigi 

Riva whose left foot, deadlier than Paolo 
s ago, Rossi's, ccmld score half the goals required 
a sea- towin a dian^ffli^.Riva,bon^itfora 
from Third Division Legnano, helped 
bran Second to First Division and 
21 times in 28 gam es during the 
season. 

Scqpigno’s masterpiece was keeping 
Riva outaf Juventus’s bands and building 
a team tf stfflhniigiycastrifiGoalfe En- 
rico Albertosiand nght wing Angdo Do- 
wttghtni, rikearflafl by Ffor pnfimi anri 


moved shrewdly fra players^ m istaken l y 
abandoned — aid moved quickly in for- 
eign trade. ■ 

First came Josfc Dircen, the industrious 
little Brazilian winger who, disaffected by 
Spain and mistrusted as a spent force,, 
fulfilled the old Riva role of sparking pro- 
motion from Sate B. Next Verona lnred 
the experienced Polish defender Wladys* 
law Zmnda and the HnftKng Scot Joe Jor- 
dan. 

Then, last year, after 
jor figure who could be 


The blond Bricgd is used to making an 
impact He stands Moot-2 (1.87 meters), 
w eighs in at more than 200 pounds (90.7 
kilograms) and, as a trained decathlcte, has 
run 100 meters in 10.9 seconds. “When 
Bricgd is moving at full pace," commented 
Jupp Derwall. the former Bundestramer, 
“no one likes to play against him. Once you 
have coffidcd with 90 olos travdm» at that 
speed, you don’t want any more of it” 
There is much more to Verona than the 


It was around TriceUa’s dependability 
that Verona has won its championship. 
The Veronese have reminded us that, for 
all the influence of Lbc Platinis and Bradys 
and Antognonis, Italy’s true nature is ca- 
lennado — layer upon layer of organized 
caution. 

In the champio nshi p's 30 games, Verona 
scored just 42 goals and conceded a mere 
20 — both totals mfiatad by the mad aber- 
ration of a 5-3 victory over Udinese in 


Rob Hughes 


!1 *'<.rrrC place, ims tune, leading from start to fin- 
^ ish, it has darroed the prize by mam* of 
e-j. carefulness, correctness and -constancy. 

V Europe awakens slowly to such sur- 
prises, preoccupied with matters more in 
keeping with the power- to- the-nrigbty 
i hj, r^demt See how little the status Ouo iS 
’» <listurbed: 

' •'¥ Kin , v '• TbcPnmchprol^yknewanafamglto temazionale, were’ notable Cagliari 

* “*i • ; U\ , , Tc '&a,. Bordeaux, featuring half the nation’s successes. 

;; L : * •*ii vtii splendid international side, would retain If a Riva exists in Sate C, he is Italy’s 

» ' * 1 h t me trophy. Ajax is champion of the Neth- • best kqx secret. Foreigners, brought in two 

i’» \ 1 V ,y ‘ . . ' eriands for the 22d time. Andertecht of by two, are replacing the Italian star. 

' : •’ . i‘„ S JJ‘- h * Bdgjmn /or the 18th. Barcelona in Spain Yet how could the Wnes-and-yeBows of 

.. u ‘ f lor the 10th, Pono of Prated fra the stxth. Verona, without bankrupting a tidily con- 
i'; v : ■ ' vi\j K R - In Germany — East or West— Dynamo trolled orgamzafion, compete with $7 nril- 

• *. i : l ; " . . ' Iy H .Berlin expects a seventh consecutive crown - bon transfer fees and SI million salaries? 

and Bayern Munich an eighth tide overall. Coach Qsvaldo 
‘ » * \ u i • ’■ • • • v-V.. . ; The giants are so compraatiyety wedthy, of a smaller dnb, 

:i K-. 

14 Hn.l! 


Cham- been 


K ! llf nliRt,,-- '& 0 richin tradition, belief and know-how, -His for mu la both moves with the times 






was 

ping. He pounced at' the 
pionships in France. 

The rustling of lire whispered along the 
grapevine to the camps of west Germany 
and Denmark. Bagnoli, it seemed, admired 
power and athleticism. He bought Pteben 
EDqaer-Larsen, the Danish bull whose 
muscular thirst for action and goals proved 
him more durable than Denmark’s more 
celebrated artists. 

Nothing could distract Eftjaer’s head- 
down attadring persistence; but marry be- 
lieve West Germany’s terrible fonn had 
something to do with the preoccupation of 
its Adonis defender, Hans-Peter Bricgd, 
while he negotiated with Verona. 

Maybe that’s why Franz Beckenbauer, 
who took over as manager of West Germa- 
ny after last Sommer’s flop, has shown such 


ma- two imports. Antonio EH Gennaro, re- March. AH else, including the two defeats 
i lire teased by his beloved Fiorentina, has bios* (to Avellzno in January, minnics from the 
somed mto a playmako - far the Italian end, and in April to Torino by the game’s 

ngtv ^nal team; and Pietro Fanna and Gin- Bfd), has been a question of nerve. 

seppe Galdcrisi, both discarded by Jnvco- Against major rivals, Verona either 

went shop- tus, give pace and swn thnt t w^wm [ have sneaked a ouo-goal victory or more likely 


-that if they falter it is often a case of 


^ '"--u ‘4®reone getting too hig fra Ins boots — ’ pigno d 

v ‘ • s **«(». i ■ - ‘ 


the stealth with which Sco- 
ri cards. Verona, too, 


by the Itaiian nminiul 
Bearzov 

r derisi is the ideal foil to EUgaer, 
diminutive ennng h to remind the Dane of 
that darting little pimpernel Allan Simon- 
sea and, at 22, having years ahead to ac- 
quire the wisdom. Juventns was ri ght three 
years ago in suspecting there was some- 
thing special about the teenager who bmst 
onto its team with six goals in 16 games; 
Juventns was wrong in letting Galderisi go. 

And there is one more assured young 
international succeeding at Verona after 
faffing among the gods. Roberto TriceSa 
camelrom Milan, the groo mi ng ground for 
defensive U boros (sweepers), but was reject- 
ed at 20 by Internationale six years agp. 

Tricella is duping up as the next Italian 
master of defense. The Sbero sits at the 
animosity toward Bricgd, whose displays heart of defense, holding the reins, free to 
in Italy have consistently overshadowed move to cover all others mistakes, enoour- 
•r names and whose match-winning aged to support at midfield or to go all the 
have been as tdhng as EBgaer’s. way into attack. 


contrived a scoreless draw, leaving its con- 
sistency against lower teams to fetch in ihe 
gloiy. Not thrilling on paper but, like grain 
m a block of wood, containing all manner 
of intricate pattern. Thai is Italy; that is 
auermada 

Only in the ho m estretch, playing for 
1,400 per man per victory, did the Vero- 

tnan cer tain 


S8. . 

nese look less 


certain. Maybe that 


layb 

nervousness related to fears that toe team’s 
coach/ rather figure, BagooU, might desert 
bis boys on the threshold- He talked with 
Cremona, and rumor spread that ihc intro- 
vert Bagnoli preferred new challeng e — 
rebuilding an ailing club away from the 
limelight. 

But Verona also talked, and it came up 
with the goods to keep Bagnoli, who to the 
relief of castoffs, young players and previ- 
ously overlooked foreigners, announced he 
could not reast leading them into Europe 
as champions. Forward the unforeseen 
Italian hero. 



VKS 

:i.* 



TOUGHEE — Although this mntfa-roaod had challenger Carl Mmiams flu n ki ng 
dungs over, and afthqpgh Larry Holmes mm a unanimous 15-rotmd derision, the 
International Boxing Federation heavyweight champion .had all he conld h a ndle in 

. - i: ■ » . ■ n ikT— /v..; » : ia. i jn i — j 


two had it 145-139 as Holmes, 35, ran Ms record to 48-0, one victory shy of Rodcy 

Marriano’s heavyweight mmh. HoUnes says he wanls to fight twice rime and qmt at 50-0. 


Classic Stanley Cup Final Pits 
Stingy Defense, Top Scorers 


New York Times Service 

PHILADELPHIA — Like magi- 
cians, the Philadelphia Flyers revd 
in malting things disappear. They 
virtually take die ice away from 
their National Hockey League op^ 
ponents, forecheck in their offen- 
sive end, cot down the passing 
lanes through the neutral zone, and 
barricade, u necessary, at the blue 
line. 


No scoring combination in hock- 
ey compares with Gretzky-Knm, 
but the Flyers have some good 



who was sidelined with a 
right knee in the opening game of 
the semifinals against Quebec, said 
be was ready to play in' the opener 
(Keenan would say rally that Ken- 


See a pass? It’s picked off. Take a was skating better and was “prob*- 

T«V. LU*1«J I**- « L1.w\ UJ .1 VTT.YT UL 41 


Down 7, Rangers Ratty to Win 


Compiled by Oar Staff From Dbpatcka 

° ARLINGTON, Texas — ihe 
Bobby Vakntme-led Texas Rang ■ . 
ers opened at home to rave reviews 
Monday night as they overcame a 

7-0 deficit raid gave toor newman- 
.■war an 8-7 victory over the Kansas 
rwty Royals. • 

“That’s great,” Valentine said of 
...matching the franchtee craneback 

&: y. BASEBAIL ROUNDUP 

y 1 record, set April 10, 1983, when 
i ' Texas rallied from 7-0 to beat Bos- 
;; » ton 9-7. 

. • - “Maybe we’ll break it before the 
:3"V- -year's over." 

r . The Rangers crarned the comc- 

k i/ badt when QjmsWitterson scored 
i; ‘sj w with one out in the ninth oa a wild 
pitch by reBever Joe BeckwitL 
i_. ; x 'There probably couldn’t have 
‘ » been a more exciting wiry to win,” 

‘ said Valentine, who is 2-2 in his 
career. “Was there ever 


V 5 1 


217 in their previous 15 games, had 
10 bits and handed starter Walt 
Terrdl Us first American League 


- BtaeJajsti, WMteSoxl 
In Toronto, Jesse Barfid<rs two- 
nm tmmer and nm-scoring sacri- 
fice fly made Bmmy Key a winner 
in Us first mraos*-leagne complete 
game. Barfield's home nm 
soon, after Tom Seaver made an 
error on what^iould have been the 

final but Of the SBCOgtd hmrng . The 

White Sox pitdier dropped Grqg 
Walker’s toss at first on a grounder 
by Leu M a tns z d r, Emie Whitt de- 
livered an RBI double before Bar- 
fidd came to bat A Victoria Dot 
crowd : <rf 44;715 was the second- 
largest crowd in the Blue Jays’ 
mne-yearhistoiy. 

. In Mameapdis, John Butcher, a 
questionable starter because of the 
fin, scattered eight hits -over his 716 
innin g s to hdp * Minnesota past 
Boston. Rookie reliever Curt War- 
dle took over for Rrai Davis with 
the bases loaded and none out in 
the Red ninth. Wardte got 
pm<ffi4iitttr. 'iteid Nichols on a 
doit fly ball and then struck out 
Wade Boggs and Dwight Evans to 
end the game. 


against Milwaukee, marking the 
major leagacs'first postponement 
ofihc year. Thescason had gone a 
record 458 ganos without a ram- 


Wilkersrai led off the ninth with 
i- a angle and advanced 40 second on. 
t ' catcher Jim Snndberg’spassed ball 
, : : Rxxrftie center fielder Oddibc Mc- 
Dowd sacrificed him to third, and 
'• ' r ‘ the Royals intentionally walked 
X '.wToby Harrah and Buddy Bdl togrt 
ji; to Lany Parrish, who had. strode 
iv” ,i • ' out in 1 1 of his Lbt 22 atbals. Bat 
{•;- i'i-i Beckwith’s first pitch, sailed over 
.-Parrish's head to the screen, allows 
>, V- r ing Wilkason to score and makmg 
I >;V a winner of Dave Schmidt,' the 

£ i third Ranger pitdier. _ 

^ -The Royals were 7-0 leaders, out; the ptevkais mait, 44 games, 
v ’ /through the top ri the fifth, bHt the was set in I960, 
r "-S' ;Rangen got on the board .in the • 1 \ . n . 

•-'. V bottom ri the inning, rat .Gary rauresz, ivietsv 

“ a Ward’s third home run ri the.year, . [• 1° New Yoric, LaMaiT Hoyt re- 
t' f ^pd tied the game whh a six-nm confed- ms first National League 

’% iT sixth. chntnnt An a fnnrJHttfv and (hnw 

r* Texas got a break to start’ the 
V* ’ inning when shortstop Onix-Crah 
cepdon allowed McDowdTs pop-' 

4 up to fall for a two-base error. Har- 
■ rah angled him to third and he 
scored on Bell's single to center. 

After Parrish fouled out to third, 

Ward doubled, scoring Harrah. 

4 *liff Johnsrai’s tingle drove home 
cF Jarrah and Ward before Pete 



shot? It s blocked before it’s re- 
leased. They invite their guests on 
stage, smile politely, then spring 
trapdoors on them all night. 

^No question,” said their cap- 
tain. Dave Poulin, “our forte is de- 
fense.” 

With equal certainty, the Ed- 
monton Oilers’ penchant is for of- 
fense: Their wizardry begins with 
the league's best scorer, Wayne 
Gretzky, and continues with such 
intimidating players as Jari Karri, 
dam ^Anderson, Mike Kzusbd- 
ny&ki raid hockey's greatest threat 
from the blue fine, mil Coffey. 

So when the teams met Tuesday 
night at the Spectrum fra the start 
of the four-ri-seven-game Stanley 
Cup final, there began a collision of 
two disparate styles. 

The Flyers will be looking for 
their first cup since 1975. Cautious 
and conservative, they rarely get 
behind m <1 usually bmld a 
slowly, patiently looking for rood 
scoring chances. But in their three 
meetings with the Cfilers during ihe 
regular season — all victories — 
they had to work back from 1-0 
deficits each time, trailing by an 
average ri 14 unnutes per game: 

The Oilers routinely wait for 

goals. n ff "they craff win with five, 
they’ll go out and get a sixth. In 
their semifinal playoff series 
against Chicago, they scored 44 
goals, only 3 fewer thin the Flyers 
scared in the first three playoff 
rounds. They play fike the defend- 
ing dianmions they are — bold, 
;anac 


Pitcher LaMarr Hoyt 

...A batting milestone. 


land worked three scoreless in- 

la Gevdaod, meanwhile, heavy rings. Holland has allowed^ only 

i ^ one ran in ^21 innings since bang 

acquired from Phuadeiphia last 
month. 

Cabs 6, Reds 1 


daring and confident. 

But their coach, Glen Sather, 
impishly says his team is now the 
underdog. After all, he asks, didn’t 
the Flyers finish first in the season 
standing and his Oilers second? 
“And they’ve got a lot ri young 
guys playing with enthusiasm,” he 
says. T heard a few of those com- 
ments,” says Mike Keenan, the 
Flyers’ rookie coach. “And I had 
quote a chuckle.” 

A look at tiie two teams: 

Forwards 

Gretzky, with 208 prints, and his 
right wing, Kurd, with 135, were 
the Nos. 1 and 3 scorers in the 
league during the season. They are 
Nos. 1 and 4 in the playoffs, com- 
bining for 60 points in 13 games. 
Rum needs one goal to fie the 
C«lb; 

» ri the Flyos in 1976. Rum’s 
71 goals this season broke the re- 
cord for a 

held by Mike Bossy ri the New 
Yak 


ble”). Kerr ted the NHL with 21 
power-play goals during the sea- 
son, and the Flyers need him barg- 
ing through the slot when they have 
a man advantage. 

Defensemen 

Even after losing Brad McCrim- 
mon to injury in the Quebec series, 
the Flyers maintaine d their four- 
man defensive approach, with 
Mark Howe, Doug Crossman, Ed 
Hospodar and Braid Marsh carry- 
ing the brunt ri. the load. 

"• A mobile, fast skater with a hard 
shot, Howe can set the tempo of 
play —smoothing a game out when 
it gets rough or stepping up the 
offense when necessary. He by far 
-has the most two-way talent ri the 
bunch, but March’s shot-blocking 
and guardian-angel work in from 
ri rale Iindbogh, the goalie, 
ma ke him invaluable. 

March compares players like 
Howe and Coffey to rovobadcs in 
football, the way they move all over 
the ice. No defenseman in the game 
can ouukate or outs hoot Coffey, 
who finished the year with 121 
prints, fifth in the league. He leads 
the team with three game-winning 
goals in the' playoffs and ranks 
thud in playoff scoring with 26 
prints. 

But the Oilers have their group 
of steady blue-liners, too, with the 
slick Kevin Lowe and muckers 
Randy Gregg, Charlie Huddy and 
LeeFogbfin. 

Goafies 

Lindbergh, after leading the 
league with 40 victories in the regu- 
lar season, has been equally sensa- 
tional since: He has three shutouts, 



Thomas Eriksson of Phila- 
delphia tripping up the Oil- 
ers’ high-flying Jari Knni 

and he has a history ri shoulder 
problems, but he could be the key 
to the series as easily as his Swedish 
counterpart. 

Special Teams 

The Oilers ranked second to the 
Islanders in regular-season power 
plays, scoring Z5J percent ri the 
time with a manpower advantage- 
In wiling penalties they ranked 
ninth, with a proficiency of 78.5 
percent. 



the power p 
!, Gretzky, 


Kurri and 


ey. 


Kerr is the key to the Flyer pow- 
er play, which has clicked 16 tunes 
th= mo« in the playoffs, and h« ? fe phyoffs Wil hom lum. 
been spelled by his backup. Bob «°PP and Crossman, each 

FroeseJfoT ndy 31 mhSin 14 with three ppwer-play goals, gener- 


games. Lindbergh is exceptionally 
quick, stands up like his rid idol. 
Benue Parent, and rarely concedes 
a bad goaL 

Grant Fuhr did most ri the work 
in last year’s playoffs, but Andy 
Moog played in seven games. This 
time Sather has used Fohr almost 
exclusively, and the forma first- 
round draft choice has responded 


with 1] victories in 13 
may not be as agQe as 


He 


ate ample chances. 

Coaches 

During the Quebec series, 
Ke enan, 35, preceded a news con- 
ference by asking reporters to un- 
derstand that he really wasn't 
aloof. He said he fdt that rookie 
coaches should say fittle and mind 
their manners. So Ik says a little 
more these days and keeps on win- 


on the other hand, is 
known for speaking his mind and 
tikes to catch people off guard with 
his biting wit. The former journey- 
manplayer, 41, has coached a Stan- 
ley Cup and a Omaifa Cop cham- 
pionship team, and will likely 
refinqoish the job to John Muckier, 
an assistant, if he wins a second cup 
this time. 



shutout on a four-hitter and drove 
in a run with his first major-league 
hit in leading San Diego over the 
Mets. . . 

Kami McReynblds started the 
Padre second • by bomcring off 
Dwight Gooden. After Temr'-Ken- 
nedy struck out,-Canudo Martinez 
doubted to left; Gariy Templeton 
struck out before Hoyt, acquired in 
the off-season frran the 

RBI 


.** v, TBrien hit his fourth homer ri the , Whitt Sox, ■ punched an 
. , -ear, a line drive over iheri^it-Gdd grourider ag the middle. 

*’* '*** Cnee. ' PintM 1 ’iitmrl 


.I* 




4 


Fbates.% Atirosl 
In. Pittsbuighr : Steve Kemp 
In Anaheim, California, Bobby walked wiih the bases. loaded and 
irich and Bob Borate tingled m ' Jason Thompson delivered a saeri- 
vo runs apiece in bdping Califor- fice fly in'ltbe fifth, helping the 
ia break out ri its. recent bitting. Pirates to snap a tiiree-game lasing 
map. The Angels, batting ronly. .streak* Httsbwgh reliever A1 Hoi- past Atlanta. 


In Chicago, Davmr Lopes had 
two. hits and two RBIs to back 
Scott Sanderson’s five-hit pitching 
as the Cobs ended CmrinattTs five- 
game wi nnin g streak.. The losers’ 
Pete Rose hit his first home run - 
since Sept 18, 1982. 

- PbiBes 2, Gtants 1 
In Philadelphia, Steve fritz’s sev- 
en th-inning RBI single helped 
Steve Carlton to his first victory of 
the season. It was Carlton’s 314th 
lifetime triump h, tying him with 
Gaylord Penyfor loth place on the 
all-time victcuylisL 

Expos 9, Dodgera 1 
In Montreal,- Hnltie Brooks hit a 
bases-loadcd double to cap a four- 
run fif th that sealed the Expos’ root . 
of LosAngdes. 

CanKmls 14, Braves 0 
In St Lotus, in a game delayed 
“lie McGee' 


3 10 minutes by rain, Willie 
drove in five runs and . scpred three 
times as the. -Cardinals powered 
(AP, UPI) 




When they have a manpower 
advantage, the Flyers will 
look to Ton Kerr — banged- 
up knee and all — to barge 
throt^h the slot and provide 
his customary scoring pouch. 


Giuseppe Galderisi embraced Preben Elkjaer (11) after 
EXkjaer’s goal against Atabnta sewed up the title for Verona. 

SCOREBOARD 


Baseball 


Auto Racing 


Monday’s line Scores Indianapolis 500 lineup 


AMERICAN LEA (HIE 

m HI 0H-1 4 1 
M2 an Mx— 4 r i 
Scowar, Fed ion mi, spinner (8) and Hill: 
Km and Whitt. W— Key. 3-2. L— Seaver. 4-2. 
HR*— CMcbm. Walker Ml. Toronto, Barfield 
Ml. 

IN MB 020—3 M 0 
Ml M4 0M— S 7 • 
N toner. Clear 14) and Cedmon; Butcher, 
Davb l», wardle m and Sam. W— Butcher. 
M. L— Nipper. 1-1 5w — -Wardle (11. 

Kamos City MS IN SCO— 7 » 1 

TOMS ON 814 881— 8 14 I 

Leibrandt. Beckwith 14 ) and Sundbera: Ma- 
son, Harris (5). Schmidt (7) and Brummer. 
w— Schmidt. 2-2. L — Beck writ h. 1-1 HRs— 
Kansas aty, Wilson (2), Sundbera (3). Texas, 
ward 13), O'Brien (4). 

Detroit 000 BM 208-2 7 1 

CaMonUa 882 MB 0811-7 18 B 

Terrell. BerenBuer (5) and Parrish; Ro- 
monlck and Boone. W — Romanlck. 5-1. L— 
Terre U. 4-L HR— Detroit, Looa (2). 
(MBwaakM a) Qtvtiond. pml, rain) 


Lee 


NATIONAL LEAGUE 

m IM 040—1 7 3 
181 M3 nx-v 18 ■ 
Castillo. Brennan {51, Dim (SI# Howe (8) 
and YeMer; Schatzeder and PltzBenrid. w— 
Schatzeder,1-au-Castllta.1-LHRs—LoaAn- 
aeta, Guerrero (4). Montreal, Schatzeder (1 ). 
OuciQHOtl 8H MB 880-1 S 1 

CD Icmm 182 M3 BOX— 4 t 0 

THAs. Hume M). Robinson (71 and Knlcelv; 
Sanderson and Lake. W— Sanderson, 3-1. L— 
TABS. 3A. HR— Ondnnott, Rose (1). 
Hoasfan IM BM MB— 1 7 • 

MttsbUfeh 1H8M0BH-3 8 8 

Niekrot Calhoun (8) and Ashby; Rhoden. 
Holland (7) and Pena. W— Rnoden, W. L— 
Niefcra 2-5. Sv— Holtond (3). HR — Houston, 
Doran (3). 

San Dtawo 838 PM MB— 2 M t 

New Yer* 8M MB 888-8 « 8 

Hoyt and Kennedy; Gooden, Sa mbits (V) 
and Carter. W— Hoyt. 34. L— Gooden. 4-2. 
HR— San Diego, Me Reynolds 15). 

San Francisco IN IM 808-1 4 1 

PMladelUda IM M0 iBx— 9 4 0 

Krakow, Blue M). Williams (7) and Brertfv; 
Carlton. Tetuilve II) and VlrelL W— Carlton. 
M. L— Blue. 2-L 5v— Tekutve 11). 

Altanta BM BM MO— 8 4 2 

». Loata IM 482 Bln— 14 14 8 

Smith, MCMurtry (3). Camn (41, Forster (*) 
and Cerene; Anduiar and Nleta w— Annular, 
7-1. L — Smith, 2-3. HRo— St. Louis. McGee (1). 
van Slyfce (3). 


Major League Standings 

AMERICAN LEAGUE 
Eal* Division 


The lineup Mr the May 24 Indtaweolli 3Mb 
based an tear -lap nualMcallans at the 2 Vj- 
ndi Indtananells Motor Saoednay (Itsttng 
drlyar, dm car number, chaiN sen o l a o and 
average speed In mites per hoar; R -rookie): 
ROW 1 

I. Ponan Carter. 34, Na.4. March-Bulek V4. 
212583 mph 042109 kph). 

2 Scott Bravton, 26. No. 37. Marat-Buick V4. 

ti l Hi 

1 Bobby Rohal.32.No. 12 Atarch-Cowwrtti, 
211512 

ROW 3 

A Mario Andretti 45 Na 3, Lokt-Coswarlh, 
211575 

2 E mersen Flttlsaldl.32 No. 40. MordvCes- 
wortti, 31 1522 

e. Don Whittington. JV. No. 30. MardvCas- 
worlti. 218591. 

ROW 3 

7. A! Unser. 45 No. 11. March-Cannirtlt. 
2HLS23. 

2 Danny Sullivan, 35 No. 5 MartJvCos- 

warth, 212292 

9. Geoff Brabham, 33. No. 7. March-Cos- 
worth. 21BU74. 

ROW 4 

12 Rick Moors, 31 No. 1, Mnrcn-Comortti. 
209594. 

II. Al Unser Jr, 23, Na32 Lota-Casworttb 
209212 

12 Blit WMttlngten, 35 no. 12 Loto-Cos- 
yvorth. 209504. 

ROW I 

12 Tam Sneva. 34, N22 Eoole-Caswortti, 
208527. 

12 Dick Simon. 51. No. 22 Marcn-Cosworth. 
208534. 

15 MIchoel AndrettL 22 No. 99. MandvCos- 
worttv 2B21B5 

ROW 4 

15 Roberta Guerrero, 27. No. 9. March-Cos- 
worltu 202042 

17. Danny Owais. 43. No. 25 March-Cos- 
warth. 207522 

t2 Joeeie Gam ZL No. 55 Marat-Cos- 
worttu 204577. 

ROW 7 

19. Howdy Holmes. 35 Na.33. Lolc-Cos- 
worth. 205372 

22 R-Arle Luyendvk. 34, N2 4L UPO-Cos- 
worth, 7 * 1 ffM 

31- AJ. Fort. 52 No. 15 March-Cowarm. 
205782 

ROW ■ 

22 R-Ed Pimm. 29, No, 92 Eaale-Coswortft. 
205735 

23. R-Raul Baesel, 27, No. 23. MarchCos- 
worfll. 205498. 

35 R-John Paul Jr. 25 No. 43. MorcMte- 
worth. 205340. 

ROW f 

25 Chip GananL 27. No. 85 March-Cos- 

worth, 205105 

25 Johnny Persons. 40, No. 72 Mardt-Cos- 
worth. 205772 

27. R-Jhn Crawford. 37. No. 35 Loto-Cos- 



W 

L 

P«. 

GB 

worth, 20552S. 

Toronto 

22 

U 

All 

— — 

ROW 18 

Baltimore 

21 

14 

M0 

W 

28. George Snider, 44. No. 45 March-Chew 

Detroit 

20 

IS 

571 

iv» 

V5 205.455. 

New York 

11 

16 

529 

3 

79. Tony Bettenhausea 33, No. 97. Loio-Cos- 

Boston 

16 

20 

544 

6 

werth, 205825 

Milwaukee 

14 

20 

512 

7 

30. Johnny Rutherford. 47, No. 21. AAardi- 

Cleveland 

14 

22 

J89 

8 

Coswarth, 208J55 


West Division 



ROW 11 

California 

22 

15 

593 

_ 

31. Derek Daly. 32. No. 29, Lolo-Cosworlh. 

Minnesota 

21 

16 

568 

1 

3D754B. 

Chicago 

19 

13 

559 

m 

32. Kevin Cagon,29, No. IB March-Coswonti, 

Kansas City 

18 

18 

5M 

3V2 

205368. 

Oakland 

17 

19 

572 

4W 

XL H-RIch VBOIer, 35 No. 40. Morch-Cos- 

Seattle 

14 

20 

544 

5V» 

warth. 205553. 

Texas 

11 

2S 

JIM 

10V) 


NATIONAL LEAGUE 

East Division 

GB 

1 Transition 


w 

L 

ra 


New York 

23 

12 

557 

— 

BASEBALL 

Chicago 

21 

13 

51B 

Vb 

American League 

Montreal 

21 

16 

568 

3 

CALIFORNIA— Placed Rad Corew. tint 

Si. Louis 

17 

19 

572 

4V2 

baseman. an me 15-dov disabled list and Doug 

Philadelphia 

14 

22 

J89 

9Yi 

DaCIncas, third baseman, on the 15-dav dls- 

Pittsburgh 

II 

24 

J14 

12 

abfed list retroactive la May IS. Transferred 


West DWMan 



Geoff Znhn, ollciier. from the 1 Sdov ta 31 Kiav 

San Olreo 

21 

14 

400 

— . 

disabled list Colled up Jock Howell, third 

Cincinnati 

20 

17 

541 

2 

basemen, from Edmonton of the Pacific Coast 

Houston 

20 

17 

541 

2 

League. 

Los Angeles 

18 

30 

574 

4W 

TEXAS— Reactivated Luts Pulols. catcher. 

Atlanta 

14 

20 

544 

5V2 

Sent Dale Murray, pitcher, to OUanoma Cltv 

San Francisco 

14 

22 

J89 

m 



Hockey 


NHLHayoffs 

LEAGUE SEMIFINALS 
May 4: Edmonton n. CMcodo 2 
May 7: Edmonton 7, Ch lease 3 
May 9; Chicago 5 Edmonton 2 
May 12: Chicago 5 E dm onton 4 
May 14: Edmonton ig, Chicago 5 
Mar 14: Edmonton 5 Chicago 2 

May 5: Quebec 2 Philadelphia 1 (OT> 
May 7: Philadelphia 5 Quebec 2 
MOV V: Philadelphia 4 Quebec 2 
May 12; Quebec 5 Philadelphia 3 
May 14: PtiUadeMila 2 Quebec 1 
Mav i«: PtiUodeWiLn X Quebec 0 

STANLEY CUP FINALS 
Mar 21; Edmonton at Philadelphia 
May 23: Edmonton oi Philadelphia 
Mav 25: Philadelphia at Edmonton 
May 28: Philadelphia at Edmonton 
x-mov 38: Philadelphia at Edmonton 
x-june 2: Edmonton at Phllodeiplila 
n-June 4: Edmonton at Philadelphia 
(x-H aeccesary) 


NoMopul League 

CHICAGO— Placed Rick SirtdIHe, pitcher, 
on Ihe LS-dov dtsaaied list. 

MONTREAL— Placed Sieve Rogers, Ditch- 
er. on waivers tor ihe purpose of giving him 
tile unconditional release. Recalled Randy St. 
Claire, oltcner. from tndlonoDolls of the 
American Association. 

NEW YORK— Recalled Rich Aguilera and 
Doug Sisk, pitchers, Irani Tidewater of Ihe 
IntwnattowalLeooue.OpHaned Wes Gardner, 
pfleher, to Tidewater. 

PITTSBURGH— Recoiled Rick Reuschel 
and Jim Winn, Pilchers, (ram Hawaii of the 
Padflc Coast Learn. Sent Mike Bketcckl and 
Lee Tunned, Ditchers, la Hawaii. 

BASKETBALL 

Notional Basketball Association 
DENVER— Announced It his eliminated 
the position of general mono nor. which was 
nold by Paul Phi Dos. and that Vince Borvla 
president, will assume those responsibilities, 
HOCKEY 

NaHeaat Hockey League 
BOSTON Announced Ihe retirement of 
Terry O’Reilly, right whig. 


Football 


TOP PLAYOFF SCORERS 


USFL Standings 

EASTERN CONFERENCE 



G 

A 

P PlM 


W 

L 

T 

PC). 

PF 

PA 

Cranky, Edmonton 

18 

26 

34 

4 

Birmingham 

9 

4 

0 

m 

321 

225 

SovnrtL Chicago 

9 

20 

29 

20 

Tampa Bay 

9 

4 

0 

592 

333 

276 

Coffev. Edmonton 

9 

17 

26 

38 

Memphis 

8 

5 

0 

515 

297 

258 

Kurri, Edmonton 

11 

4 

24 

4 

New Jersey 

1 

5 

0 

515 

305 

274 

Anderson. Edmonton 

9 

14 

23 

26 

Jacksonville 

7 

6 

0 

JOB 

308 

310 

P-Stastny, Quebec 

4 

19 

23 

24 

BaHhnare 

6 

6 

] 

500 

337 

204 

Larmer, Chlcooo 

9 

13 

22 

U 

Orlando 

3 

10 

0 

231 

210 

344 

Goulet. Quebec 

11 

10 

21 

17 

WESTERN CONFERENCE 


DoJutter, Chicago 

12 

7 

19 

12 

Oakland 

9 

3 

1 

.731 

318 

245 

Messier, Edmonson 

18 

9 

19 

6 

Denver 

9 

4 

8 

492 

351 

260 

Murray. CMcaao 

S 

M 

19 

24 

Houston 

8 

5 

0 

415 

393 

271 

Secant ChkxsBo 

7 

9 

14 

C 

Arizona 

S 

• 

8 

■385 

26A 

90S 

Praao. phi lode lento 

6 

9 

15 

4 

Los Angelas 

3 

to 

8 

rn 

192 

90S 

MCKeoney. Minnesota 

8 

4 

14 

0 

Portland 

3 

18 

O 

-231 

175 

308 

Huddv. Edmonton 

2 

12 

14 

11 

San Antonio 

3 

10 

0 

J31 

710 

•pu, 

awuson. CMam 

3 

W 

13 

a 

MONDAY'S RESULT 



Lyshsk, Chicago 

4 

0 

12 

to 

Jacksonville 20. Houston 17 













Page 20 


INTERNATIONAL HERALD TRIBUNE. WEDNESDAY, MAY 22, 1985 


OBSERVER 


PEOPLE 


i “1 V 


Bankov Fm and Games Jo Ann Smi*: New Brand on Ranching Congress: Dollar Signs , •• V 

*?? o.. v\ uaJ hat nfiimwwiirri tVint mv iftw-lwri fftnhnn- John Genu, who earned $1,149 a the New YoA Dmiitt Gi^cf Cif- 


By Russdl Baker 


N EW YORK — Going to *e 
bank nowadays is more fun 


IN bank nowadays is more fun 
than it used to be. For one thing, 
you never know whether the bank 
will run out of money before you 
get there. 

‘'Never a dull moment” That's 
the motto of my bank, which is the 
First High Rollers & Go-Go Na- 
tional Trust. As the name suggests, 
it’s a friendly, relaxed bank staffed 
by friendly, relaxed bankers. 

I liked it the first time I glanced 
in and saw the vice president in 
charge of investments reading The 
Racing Form, so £ walked right in, 
introduced myself and asked to 
open an account. 

The teller said. “How much?” 
and I said. “Fifty dollars,” and he 
said. “Every little bit helps, but 
next time we’d appreciate it if you 
could bring a couple of hundred 
thousand as we could get into a 
really big Haal in swamp real estate 
if we had a little dough.” 

“A little dough-” Here was my 
kind of bank at last A bank where 
the tellers called it “dough." 

□ 


It’s different now. Say you go to 
the bank to settle a bet with a 
friend. He’s betting the bank has 
lost all your money on swamp real 
estate that got swallowed by quick- 
sand, and you're betting that a vast 
corporation bilking billions from 
the Pentagon is pouring those 
bilked billions into your bank, so 


By Judy Klemesrud 

Sew York Tima Ser.ue 


W ASHINGTON — Jo Asa Smith’s fa- 
vorite meal is standing rib roast, medi- 


W vorile meal is standing rib roast, medi- 
um rare, with Yorkshire pudding. She also 
likes fast-food hamburgers, “the thicker the 
better ” In fact, she says, there is no cut of 
beef that she doesn’t like: “I even fix oxtail 


you go to the bank to settle the bet 
Ahead of you in line is a charac- 
ter who obviously intends to occu- 
py the teller for the next six hours 
because he is carrying bags con- 
taining several million dollars in 
hiTfc nf small denomination. 

D 


soup. 

Talk like this is perhaps to be expected 
from Smith. She is the president of the U. S. 
National Cattlemen’s Association, the first 
woman chosen to represent the S30*biliion 
U.S. beef cattle industry. And one of her 
major projects for 1985, she said, is to tty to 
convince Americans that beef is healthy. 

Sitting in the association's Washington of- 
fice one recent day, she said she realized that 
many health-conscious Americans associate 
the words “red meat'* with such things as 
obesity, bean disease and cancer. As a result 
beef consumption has been declining in the 
past decade, from 94 pounds 143 kilograms) a 
person in 1976 to 79 pounds in 19S4. But as 
Smith sees it, beef has gotten a bum rap. 

“Today’s beef is good for people,” she said. 
“It’s a good, wholesome, safe product, no 
matter what kind of diet you're on. We are 
producing a leaner product that fits into any 
lifestyle, beef that people can eat safely with- 
out upping their cholesterol levels and gain- 
ing 40 pounds." 

Smith is a fifth-generation cattle raiser 
from Wacahoota. Florida, whose first-grade 
teacher once taped her mouth shut for talking 
too much. She is still speaking her mind, on 
subjects such as the raising of leaner beef, the 
use of antibiotics in cattle feed and the farm 
crisis. One of her strongest beliefs is that 
Americans have “a very strong misconcep- 
tion" that beef is much higher than poultry in 
calories, fat and cholesterol 

According to her organization’s literature, 
three ounces of lean roast beef contains 169 
calories, as a gains t 174 calories for three 
ounces of baked chicken without skin. The 
same literature says that three ounces of 
cooked lean beef contains 9.4 grams of fat. 
while three ounces of baked chicken, dark 
meat, without skin, has 8.3 grams. Beef, 
chicken and pork all are said io have about 
the same amount of cholesterol — about 75 
milligrams in three ounces. 

Smith conceded that fish, “which I really 
don’t like the taste of," is lower in fat. calories 
and cholesterol than either beef or poultry. 

Some scientists and nutritionists say that 
many cuts of beef are high in fat — especially 
saturated fat, which can be particularly detri- 
mental to the bean. They also note that fat is 
high in calories and that both saturated fat 
and dietary cholesterol tend to raise the level 
of blood cholesterol Meat typically accounts 
for 23 percent of the total fat and 27 percent 
of the saturated fat consumed by Americans. 

Smith conceded that beef was “outpack- 


Untfl than I had known only 
stuffy banks, the kind of banks that 
called it “lucre.” Those banks had 
terrorized me aU my life. 

You bad to get a bath and dress 
up before they’d let you in. My first 
bank was like that. My mother took 
me to open a savings account with a 
deposit of 10 cents (banks took 10 


And since it's a fun bank where 
you don’t have to bathe to get in, 
you say to this man, “How about 
letting me step ahead of you, 
friend, as I merely want to see if 
they've lost my 50 bucks.” 

You know what be says? He 
says, “Try to get ahead of me and 
Hi blow your kneecaps off.” 

Why does he say tins? Because he 
is a member of the Mafia and has 
come to the bank with Iris weekly 
load of cash, which the bank, being 
a fun bank, ships to Switzerland for 

him 

Unlike John Dillinger. who came 


and went before you could get to 
k now him. this fellow will be there 


cents seriously in those days) but 
she wouldn’t let me go until I had 
bathed and put on my Sunday suit. 

Inside, the teller said. “How 
much lucre does the young gentle- 
man wish to deposit?” 

“Ten cents." I whispered. Every- 
body whispered in banks at that 
time. Banks were like church, only 
more so, because the heavy prison 
bars on the windows and the gigan- 
tic steel vault visible b ehind more 
bars in the rear of the room left no 
doubt that talking too loud in the 
bank led to punishment more cer- 
tain than the imp lausib le bell men- 
tioned in church as the destiny of 
all who failed to memorize the 23d 
Psalm. 

Banks were no fun in those days. 
Oh. sure — now and then John 
Dillinger came in with pistols for 
stickups. But he always ran right 
out again and drove away fast, so 
you couldn't really boast that you 
had met him. 


know him, this fellow will be there 
for the next six hours. (Have you 
ever tried to count S3 million in S5 
bills?) 

Now suppose the fun gets too 
intense and the papers say, “It 
looks like the bank is going fast, 
and taking your money with iL" 
Stay cool The U. S. government 
will not let your bank fold. 

Thai would be catastrophic to 
public confidence. It would make 
people think that bankers couldn’t 
be trusted to go to Atlantic City 
without losing everybody's shirt 
but their own. 

Yes, the U. S. government will 
step in if the fun gets too high- 
spirited, just as it stepped in when 
E. F. Hutton started edging out of 
the stocks-and-bonds racket and 
into bank fraud. 

All of us who like fun at the bank 
will miss the Hutton mob. How 
amusing to see bank robbers in 
three-piece suits. To Ed Meese’s 
credit, he didn't use his clout as 
attorney general to lock up any of 
them. Ed is a good sport, which 

hanking nrwU 

Sew York Tunes Service 



has recommended that any low-level continu- 
ous feeding of lemcydine antibiotics to beef 
cattle be discontinued. Some researchers say 
that such antibiotics, which ore used to pre- 
vent disease and promote growth, could harm 
people by stimulating the emergence of haz- 
ardous, drug-resistant bacteria in human be- 


^The main drug in question is tetracydine. 
id ven little tetracydine is being used auy- 


Kvn Sr> York Tar 


Rancher Smith 


aged and outprocessed” by poultry in the 
1970s, when innovative products such as 
chicken hot dogs, rolled turkey and rolled 
chicken went on the market. 

“Mr. Poultry did his homework.” she said 
with a faint smile. “At the time, we just didn't 
have the money io do research and promote 


beef. We're just now c atchin g up, with new 
frozen-food products like Lean Cuisine and 


frozen-food products like Lean Cuisine and 
more roast beef in the fast-food business.” 

Smith said that in response to Americans' 
rising interest in health, approximately 50 
percent of the cattle in this country are now 
being raised in ways that make' the beef 
leaner. That is done primarily by feeding 


cattle on grass for a lodger time before 
ins them to the feedlot for finishing. sh< 


and very little tetracydine is being used any- 
more.” Smith said, adding that none is fed to 
the cattle at her own ranch. 

Smith lives with her husband. Cedrick. 
another fifth-generation cattle miser, cm a 
5.000-acre (2.000-heclare) ranch in north cen- 
tral Florida, near Gainesville. Thor son. 
Mam. 25. a lawyer, lives and works on the 
ranch, and a daughter, Terri, 23, is an accoun- 
tant in Nashville. 

The Smiths own about 800 head of Here- 
ford. Angus and Brahman cattle. They have a 
"cow-caff" operation, raising and selling sev- 
eral hundred calves a year to stockers and 
feeders." who finish the cattle for market. 
They also raise bay, rye, oats, watermelons 
and timber. 

Smith said she is a “hands-on" person with 
the cattle, often rounding up strays on horse- 
back, branding calves and “working the 
dime.” which, means opening gates at the 
right time to let the cattle into pens. 

Since taking office in January, she has 
spent most of her time on the road, meeting 
with consumer groups, cattle raisers, go van- 
mem officials, trade groups and ioornalists. 
The association has 35.000 members and is 
said to represent almost 250.000 cattle raisers 
when the membership of state affiliates is 
included 

She laughed when asked wbether cattle 
raisers were immune to the cunts! farm 
crisis, which seems to be hitting grain fanners 
the hardest. 

“Cattlemen are going out of business right 
and left, because we’re very highly lever- 
aged,” she said “We have no opportunity to 
pa« the cost an, so we have to take what 
we’re offered Until we can get the federal 
deficit 2 nd interest rates down, P in going w 
be verv concerned about the future of tank- 


ing them to the feedlot for finishing, she said 
“The meat still has marbling,” she said 
“The primary’ difference is that it does not 
have as much outer fat covering. There is very' 
little difference in the marbling." 

Asked about reports that some supermar- 
kets had been reluctant to stock this leaner 
beef, she nodded and said: “Some retailers 


are slow to change. They hare enjoyed tre- 
mendous profits lor many vears with the beef 


mendous profits lor many years with the beef 
product that they have sold and they are 
reluctant to diminis h that. They figure, why 
change a good thing?” 

Turning to the issue of the use of antibiot- 
ics in cattle feed. Smith said the drugs were 
bring used less and less in the industry in the 
United Slates. The cattlemen’s association 


Smith said that if someone asked her 
whether to go into the cattle business today, 
she would answer: “ *Go find something rise 
to do — don’t be so naive.’ And I’m serious.” 

She said the business is stOl basically a 
husband-and-wtfe operation and that 90 per- 
cent of all farms and ranches with beef cows 
have herds of less than 100 bead 
Smith, who began working her way up in 
the national association's predominantly 
male ranks 10 years ago, said one reason sire 
wanted to become president was that her 
husband had once told her that he didn't 
think she could be elected. 

“I wanted to show him,” she said with a 
smile. “Today he’s very pleased" 


John Glenn, who earned S 1. 149 a 
month when he orbited the Earth, 
is firmly in the U. S. Senate's well- 
populated millionaire’s dub. 
alongside such born-to-moncy 
members as Edward M. Kenned), 
Claiborne Pefl, John Heinz. John 
C. Danforth and a newcomer 
named John D. Rockefeller 4th. 
Glenn, a Democrat from Ohio, lists 
assets of at least S4 million and 
income of SS95.9S4 in financial dis- 
closure forms required of all mem- 
bers of Congress. When Ire became 
ihe first American to circle the 
Earth in 1961 Gtara — a lieuten- 
ant colonel with 18 years of service 
— made less than S14.O0O a year, 
including flight pay. The disclosure 
reports* which curat the 572,600 an- 
nual salarv paid to most members 
of the House and Senate, are only 
guideposts. Most of the informa- 
tion. such as assets and liabilities, is 
listed only as "category of value,” 
which establishes a minimum 
amount. From the forms alone, it 
would appear that Pell a Rhode 
Island Democrat who is heir to one 
of the United States’s oldest for- 
tunes, is the wealthiest man in the 
Senate. He listed income of 
5953,146, assets of at least S5.4 mil- 
lion. liabilities of S 100.000 and 
honoraria of $5,650. of which all 
but S150 he donated to charity. 
Behind Pell is Danforth. grandson 
of tire founder of the Ralston Pur- 
ina Co., who lists assets of S5.1 
million or more and income of 
$396,963. Rockefeller is next, prov- 
ing how deceiving the sketchy 
forms can be. The West Virginia 
Democrat, who ranks at the bot- 
tom in Senate senioritv. spent $122) 
million — much of it nis own mon- 
ey — in his campaign last year. 
Forbes magazine estimated his for- 
tune, a legacy from his great-grand- 
father's cm\ ventures, at S150 mil- 
lion. On the disclosure form his 
assets are listed at $4.1 million or 
more. At tire opposite end of the 
congressional scale of wealth is 
House Speaker Thomas P. O'Neill 
Jra Democrat of Massachusetts, 
who listed total assets of 525,000 
and liabilities of $63,000. Repre- 
sentative David E. Bonkre, a Michi- 
gan Democrat and author of the 
book “The Vietnam Veteran: A 
History of Neglect." repeated in his 
report'what he said last year: no 
income, assets, liabilities or hono- 
raria. 

O 

There was no best musical on 
Broadway this season, according to 


the New York Drams Critics* Cif. 
cle. There wasn’t any bcsf fmttga 
play, cither. The critics caddn’t 
even nick best play on the fiat 
round, hut they wt a winner so the 
second ballot: “Ma Raney 4 * 


even dick oesc ptay on me hot », 
round, hut they wt a winner so the 
second ballot: “Ma Raney 4 * J&d 
Bottom." August Waswv tfho 
wrote "Ma Rauwy wiB be’, hon- 
ored May 2S for his drama, ataa 
the effects of racism onagWtotf 
black musicians in Cfa&b frJ 
1927. The Drama Critics* Orefe 
composed of the mfgor^WKs on 
newspapers, magazines and . news 
agencies in the New York area. 


A glittering array of opera sun 
gathered in tire Royal Opera House 
of the Versailles Pallet outside 
Paris for a television tribute to 
Gioacchino Antonio Roafet, the 
Italian composer uf “Tbe Barber of 
Seville.* 4 The 90-rninule gala, fa aid 
of cancer research, was 
by Italy's Chwho Abtaodband fea- 
tured the soprano MMttaat G4- 
balle and the tenor ftwc Isw 
AraixM of Spain, tire mezarao proftq 
Marilyn Horae and thebarkoce 
Sam Ramey of tire UmSod States. 
and tire Italian baritone Rugrerio 
Raimondi singing excerpts from 
Rossini's best-known wotkl The 


production was beamed iUw-tc 
Germany, Austria ami Rely Mon- 


day night. It will be aired in Britain 
and France next month, in (fag 
United States in the faH, tndfebo fo 
Japan. ; - 

An artist floated 1.000 cork rep- 
licas of bikini bottoms co &e Ser- 
pentine lake in the ceateraf Lon- 
don Tuesday and said bohaped thc 
world would take noticed start he 
called a “high proffle-axtmjca,” 
The artist, Go tb-bom 
was not present for the nin. 
drenched event in 
be sent a statement with &e assis- 
tant who spread tbe briefs on die 
lake. The cork, triangular objects 
included 174 painted mtedwxbres 
of all the countries of tke_vu&[ 
and the rest of the 1,000 werepfeat- 
ed in a variety of design* — fib 
swimsuits. Tbe effect wasnot es*- 
dally hire tbe fanums^wnterS^ 
paintings by tire Impressbahr 
Claude Monet, as Poliak had 
hoped, but more litre a school d 
fish surface-feeding, as tfre b&m 
briefs bobbed and twmkkdon tk 
water. They were an picked tip slta 
three hours. v; ..V - 


ANNOUNCEMENTS I ANNOUNCEMENTS 





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SWITZERLAND 


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In these cnOMond reg»cns, induing 
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IK 







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MALTA: Certrnfcy stuated 33-bed ho- 
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canstruchon wil inewde new restau- 
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