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The Global Newspaper 
Edited in Paris 
Printed Simultaneously 
in Pans, London^ Zurich. 
Hoii Kong, Singapore, 
The Hague and Marseille 


INTERNATIONAL 




WEATHE* DATA APPEAR OK PACE 18 


PoWished With The New York Times and The Washington Post 


K No. 31,948 


43/85 


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LONDON, THURSDAY, NOVEMBER 7, 1985 


ESTABLISHED 1887 


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In Eureka 
Endorsed 


\ "US 

sr^ 


■i IS Nations Back 
High- Technology 
Beseanh Effort 


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By Axel Krause 

International Herald Tribune 

HANNOVER. West Germany 
— Governments of 18 West Euro- 
pean commies agreed Wednesday 
to provide financial and other 
forms of endorsement in establish- 
ing (he first 10 research projects 
with industrial applications under 
Eureka, the French initiative to 
stimulate West European coopera- 
tion in togb technology . 

Hans-Di^trich Genscher, the 
West German foreign minjq fr 
said: “AD agreed the conference 
**ieis a succcss - The decisions 

■’■t'e itfni ,w. “v f — .... 

Hannover seemed ao u nlike ly 
spot lor the meeting. Page 11. 


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• • 1 think u 

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readied gave Eureka structure and 
stature. It is dear that all partici- 
pants are ready to help their econo- 
mies, industries and research insti- 
tutions become technologically 

• -n .. f more competitive with the United 

-■^ forsudi^- States and Japan." 

- ... hs The 10 projects, in 14 countries 

~ “T"** dnii- and costing an estimated S312 mfl- 
‘ ‘ ^ Mid " lion, will involve dozens of compa- 

□ mes and research institutes in aHi 

\r.dresSe«wiii)i sectors as educational computers,. 

J a: lasers, anti-pollution devices, new 

’-i.'MwTuotaJf indu ?? ial materials, robots and 

• • a wSiSb m “?** uni ?s sy****- . 

■ : *s Tiicr „ 2 , , . adopnon of the projects by 
••• ■’ .flinifr 1 forogn “4 research ministeis on 

• the Eureka projects ended a two- 
■-'•ii-i'- fc ne ^ an *' “4ay conference that also estab- 

1 111 *c: lished a permanent government co- 

ordinating body, the Eureka. 
Conference of Ministers, and a 



•. 1 ■ —X *«- ^ / ' • 

i'l., 


32 Reported Dead in Appalachia Floods 

Cars were stacked up in Virginia after floods caused by more than sis inches of tain. Hundreds were left homeless and thousands 
without power. Thirty-two persons died. Twenty people were listed as missing in West Virginia. While the rains had er.ded in most 
places Wednesday, flood warnings remained in effect for Virginia and Maryland. Damage was put at hundreds of millions of dollars. 


U.S. Won’t Delay SDl, 

" * ' ,f ~ ' • •* - . 

Reagan Now Declares 


Jaruzelski Gives Up One Post, Assumes Another 


•T. 


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K governments and the 
GBtQit ^European Community Commis- 
aion will be represented. The secre- 
WCMANWTH.U, tariat is expected to bt^m fraction- 

n «« y“- . . 

; TttMxS: Each ci the countries is to name 
SFanoUESinj ? delegate to thecbnference of min- 

L ^?cd£ l A statement issued at the end of _ 
. ■‘■■>if t ragi«eK the meeting said that EurekaVrehi^ 
mum uonship v»&i:£Oriiena>eT: govero- 
POSmO>Sȣ ments wouM bedrfmedin thenext . 
Sena vAig/a»a several weeks. ; ,1 r '/. 

rfqaredb-j.' Bniam and West Germany, ut 


•3W.-. »i *«r* -- 


-The Associated Press 

WARSAW —General Wqctech 
Jaruzelski, the Polish leader, 
stmed down Wednesday as prime 
minister bint assumed the ceremo- 
nial post of ***»<• president when 
the parliament dected-him chair- 
man of the Counatof State. 

General Jaruzelski, €2. the army 
general who declared martial law in 
1981 to crush the Solidarity trade 
union, retained his.titleof Commu- 
nist Party first secretary, the most 
powerful position in Poland. 

A Politburo member, Zbigniew 
Messner, was dected as prime min- 
ister and asked to Jam a govern- 
ment. 

.General JaruzdskPs election to 
the riate presidency underscored 
The bdief that he womd remain the 
drigB ti ag^mohtical figure In Po- 
kod.. He - re^es i&s* Jib-: 
l^cas jffete.' • 

Gmexal Jaruzdrid's resignation 
aOTMUenily signalod the end of the 
political crias that led to mahial 
law and suppression of the Sobdar- 



- ! «a*er positions, agreed 

. : -^.sKHrE. Tnesday to contnbute government 
_ funds from existing industrial de- 

• v^opment allocations to Eureka ity labor moyement in. 198|_ . 

prqects. The Communist Pany, the real 

ALTOM® On Wednraday,.ihe Netheriands power in Poland, is believed to 





said it would contribute about 25 

mill ion guilders (S8^ million) an- 
a iimrw»y nuaDy in hdp Dutch companies 
o. idtcge develop prcgects that would qualify 
EnrdLasiqjporL 

’■? The conference also established 

. I# (ContinBedon Page 5, CoL 3) 

AlTQj g . — ' : — 

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have lost nearly onemQEon mem- 
bers after labor turmoil in 1980 
gave rise to Solidarity. 

The govemmeoi suppressed Sol- 
idarity and dedared martial law in 
December 1981, and outlawed the 
Soviet bloc's only mdqjendeni la- 


Zbigniew Messner 


bor federation the foDotving au- 
tatim- .Many Solidarity leaders 
have been driven underground and 
kane are in iafl. 

Western apfomats said General 
Jaruzdski's dedsion meant that the 
Polish leader feh that the country's 
political turmoil was largely over. 
A diplomat, who sprite on condi- 
tion of anonymity, said the move 
■'means Jaruzelski has decided the 
problem in Poland is no longer po- 
litical but economic." 

As requhed by law, General Jar- 
uzdriti submitted the resignation 
of his government at the inaugural 
session of the newly dected Sqm, 
or parliament. 


Wojtiech Jaruzelski 

Mr. Messner. 56. was appointed 
deputy prime minister in Novem- 
ber 1983 and was a member of the 
parly's ruling PoJiiburo. 

General Jaruzdski said nothing 
about his plans in a speech to the 
Central Committee that was broad- 
cast Tuesday on suite television. He 
referred to himself, however, as the 
“until-now prime minister." 

A government spokesman said 
Tuesday that most of the country's 
368 political prisoners would be 
given amnesty and released shortly, 
but he did not specify whether 
some prominent Solidarity activists 
would be among them. 


More than 630 political prison- 
ers. including seme Solidarity 
members, were released last sum- 
mer in a genera! amnestv. 

■ Walesa Forced to Have Exam 

Lech Walesa, the founder of Sol- 
idarity. said security police forced 
their way into his home in Gdansk 
on Wednesday and made him sub- 
mit to a medical examination by a 
woman donor. Reuters reported 
from Warsaw. 

The incident occurred shortly af- 
ter Mr. Walesa had met a public 
prosecutor in (he Baltic pen to an- 
swer a summons about allegations 
that he defamed the Polish authori- 
ties by issuing false voting figures 
during general elections last 
month. 

Mr. Waksi aaid that sa police us 
plain clothes and one in uniform 
pushed into the house when his 
wife. Danuta, opened the door. Trie 
police wanted to take him hack to 
the prosecutor's office for further 
questioning 

Mr. Walesa, who has a stomach 
ulcer, is officially on sick leave 
from his job as an electrician at the 
Lenin shipyard. 

“They told me they would take 
me to the prosecutor unless I sub- 
mitted to a medical examination, 
which I finally agreed to do." Mr. 
Walesa said. “The doctor ruled that 
I was not fit to go " 


By Michael Purzcl 

The Aaoctaied Pms 

WASHINGTON — President 
Ronald Reagan said Wednesday 
that he would unilaterally deploy 
the proposed US. space-based mis- 
sile defense if he could not get other 
world leaders to agree on an inter- 
national system to defend against 
nuclear attack. 

Speaking to correspondents of 
Westers news agencies. Mr. Rea- 
gan said that comments be made in 
an interview with four Soviet jour- 
nalists had been erroneously inter- 
preted. 

In that interview, he appeared to 
make deployment of the Strategic 
Defense Initiative, or SD1. contin- 
gent on the dismantling of nuclear 
missiles. 

Asked if he meant to give the 
Soviet Union veto power over de- 
ployment of the proposed defen- 
sive system, frequently called “star 
wars," the president replied. 
“Would you forgive me if I sav. 
Hell no!" 

Mr. Reagan said that his concept 
was that “if and when we finally 
achieve our goal, and that is a 
weapon that is effective against in- 
coming missiles." then “rather than 
add to the distrust in the world and 
appear to be seeking the potential 
for a first strike by rushing to im- 
plement, my concept has always 
been that we sit down with the 
other nuclear powers, our allies and 
our adversaries, and see if we can- 
not use that wrapon to bring about 
... the elimination of nuclear 
weapons." 

He added that if an international 
conference failed to reach agree- 
ment for mutual use of SD1 “we 
would go ahead with deployment." 

In the interview Wednesday, Mr. 
Reagan also made the following 
points: 

• He believes it is possible that 
Moscow orchestrated the three re- 
cent incidents in which citizens of 
the Soviet Union, one a high-rank- 
ing KGB officer, sought to defect 
10 the United States, Lhen an- 
nounced their desire to return 
borne. 

• There is “every indication" 
that Mikhail S. Gorbachev is “a 
reasonable man." which gives Mr. 
Reagan hope that he can convince 
the Soviet leader at their summit 
meeting in Geneva that the United 
States has no expansionist aims. 

• He refused to comment on re- 
ports the CIA was trying to over- 
throw Colonel Moaroer Qadhafi, 
the leader of Libya. Mr. Reagan 
would say only that “we don’t have 
a personal relationship." 

■ ‘Presidential Imprecision' 

Earlier . The Washington Post re- 
ported. 

President Reagan's statement to 

(Continued on Page 5, CoL 1) 



‘What f have talked 
about repeatedly and 
to many others, and 
that is when we've 
got it developed and 
we know we have 
that kind of a defen- 
sive weapon, we 
want to sit down with 
the rest of the nuclear 
powers in Hie world 
and sby, ‘Hey, now 
join us all in getting 
rid of nuclear weap- 
ons and instituting a 
defense. 1 * 


Ronald Reagan 


The Selling of Star Wars: 
A Childishly Simple Task 


By Lloyd Grove 

M’ Oihngiun Pmi Srr.-ue 

TAKE ONE: .4 panicked hiuse- 
•rife and her /S-monih-tJJ bab\ face 
imminent nuclear annihilation in the 
kitchen. Sirens blare. An urgent 
voice is heard: “Once nuclear mis- 
siles are launched, mv cannot shoot 
them down. All h«* can Jo is ... 
wait." Fade to portrait of Ronald 
Reagan. “ Bui there a hope. ” 

□ 

TAKE TWO: Bob and Harry are 
lounging on a park bench one fine 
afternoon. “Hey, Harry, know any- 
thing about this ‘star wars' stuff?" 
Bob asks. “Yeah," says Harry. 
“Turns out that all this lime we've 
never had a h try to keep nuclear 
missiles from gening here." Bob 
looks surprised “Sever bad a way?' 
Harry nods. “Nope . " 

WASHINGTON - How to 
market the Strategic Defense Ini- 
tiative, otherwise known as “star 
wars?" 

The question was taxing the best 
and the brightest of television ad- 
vertising people late last sunyner. 
as High Frontier, the pre-eminent 
SD1 advocacy group, invited some 
of the ad game's most creative 
minds to bid on the “star wars" 
account 


Their ideas were creative indeed, 
worthy of Wheaties and Calvin 
Klein jeans. National Media pro- 
posed the housewife and baby spot 
while Ringe Media Inc. offered the 
park bench vignette. 

A third agency. Hal Larson Etc„ 
went so far as to rename President 
Ronald Reagan's proposed missile 
defense system “The New Freeze." 
thus stealing verbal thunder from 
the politically hostile nuclear freeze 
movement. 

The privately funded High Fron- 
tier and its public relations arm, the 
Coalition Tor the Strategic Defense 
Initiative, rejected dozens of such 
suggestions from \Z ad agencies 
before getting its commercial onto 
the airwaves in late October. 

In early September, with no deci- 
sion made, the group invited Don 
Ringe, of Ringe Media Inc. and the 
park bench, to pitch another idea. 

He showed up at High Frontier’s 
offices in downtown Washington 
with two crayoned doodles on 
scrap paper, dashed off, left-hand- 
ed, by his right-handed girlfriend, a 
computer analyst named June 
Kelly. The doodles showed stick 
figures, a bouse and a sad-eyed sun. 

(Continued on Page 5, CoL 3) 


US. Interviews Defector, 
Says He 9 s Free to Leave 




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* 


:GS*V: 






Vitaly Yurchenko 


By Stephen Engdbcrg 

New. Turk Times Service 

WASHINGTON — Stare De- 
partment officials have interviewed 
Vitaly Yurchenko; a KGB official 
who had been described as a prized 
defector to the United Slates, and 
say they are convinced that be free- 
ly decided to return to the Soviei 
Union. 

Ai the Soviet Embassy, a spokes- 
man said Tnesday .that Mr. Yur- 
chenko planned to leave the coun- 
try “as soon as possible.” 

(Mr. Yurchenko was to fly back 
to the Soviet Union os Wednesday 
aboard an Aeroflot jet; administra- 
tion sources told United Press In- 
ternational.] '1 

Mr.- Yurchenko embarrassed 
U.S. officials Monday when be ap- 
peared at a news conference at the 
Soviet Embassy and said that he 
had been the victim of kidnapping 
and torture by American intelli- 
gence agents. 

On Capitol Hill. lawmakers were 
sharply critical Tuesday of the 


^Yurchenko’s Flight Hurt 
| CIA’s Image, Officials Say 


. ScV-=* s 


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Xu.i .i — - .... 


ir j par' 5 : 

. ; 


By Doyle McManus 

Lor Angela Tima Service 

WASHINGTON — Whether 
Vitaly Yurchenko was a brilliant 
aE b triple agent or merely a homesick 

y* family man, the Soviet spy's sud- 

decision to return to Moscow 
has riven the Central Intelligence 


has given the Central Intelligence 
Agency a black ttye, according to 
Reagan administration officials 
and members of Congress. 

Senior administration officials 
insisted that Mr. Yurchenko could 
not have learned much about U-S. 
intelligence operations during his 
three months of interrogation. 



But former. CIA officials and 
members of the Senate Select Com- 
mittee on Intelligence said that Mr. 
Yurchenko, an official of the KGB, 
the Soviet secret police and intelli- 
gence agency, undoubtedly learned 
some secrets that wiD be valuable 
to Moscow. The delate of damage 
has not yet been fully assessed, 
however. 

Perhaps more important, one 
former U.S. spy said, ibe KGB wjU 
use the saga of Vitaly Yurchenko to 
warn other potential defectors that 
■‘anyone -who even thinks of put- 


Central Intelligence Agency's han- 
dling of Mr. Yurchenko. 

The CIA was described by 
knowledgeable officials as being 
bewildered over the episode. 

Senior intelligence officials said 
it remained unclear whether Mr. 
Yurchenko was a participant in a 
Soviet hoax or a genuine defector 
who had changed his mind. 

Several officials said Mr. Yur- 
chenko had been disappointed by 
the collapse of a love affair with a 
woman in Canada and angered by 
a succession of news stories about 

him. 

Congressional leaders said they 
had questioned the CIA about Mr. 
Yurchenko and had been repeated- 
ly assured that he was trustworthy. 

Senator Patrick J. Leahy, Demo- 
crat of Vermont and vice chairman 
of the Senate Select Committee on 
Intelligence, said: 

“You either have gpt a defector 
who was allowed to just walk away 
under circumstances that 1 still 
can’t accept and cause a significant 
embarrassment to the United 
States, or you have a double ageut 
who was planted on the United 
States and lhen you have far more 
than a significant embarrassment, 
you have an out-and-out calamity. 

“No matter what, something is 
wrong,” be said 
Ml Yurchenko walked into the 
State Dqjartmem on Tuesday eve- 
ning escorted by several Soviet offi- 
cials. He left the bidding an hour 
later. In response to a shouted - 
question about whether he was go- 
ing home, he dasped his hands 
above his head like a prize fighter 
and declared “Yes, home.” 

A State Department spokesman 
said a doctor had seen no evidence 
during the meeting that Mr. Yur- 
chenko had been drugged. 

[President Ronald Reagan said 
Wednesday that be was perplexed 



INSIDE 

■ Israeli settlers warned the 
government not to use the West 
Bank as a bargaining chip with 
Jordan. 


ROYAL OPENING — Queen Elizabeth II opened a 
new session of Britain's Parliament on Wednesday. In a 


AuoC-OMd Pro. 

speech, she said that the government plans to tackle 
unemployment and law and order, and cut taxes. Page 5. 


■ Doubts have grown in Micro- 
nesia about limited autonomy; 
the country has become too reli- 
ant on the U.S. Page L 

■ Spencer W. KimbalL the 

leader of the Mormans, is dead 
at 90. Page 3. 

SCIENCE 

■ The Mexican earthquake 

yielded important lessons in 
building design and city plan- 
ning ' Page 6. 

BUSINESS/ FINANCE 

■ The International Tin Coun- 

cil adjourned without making 
any headway in its attempt to 
end the chaos in the tin indus- 
try. Page 11. 

SPECIAL REPORT 

■ Luxury properties in North 

America range from the Virgin- 
ia hunt country to mountain 
hideaways. Page 7. 


Greed Wins Confidence Vote; Defends PLO’s Armed Struggle 






“He gave us stilff; we didn l give 

'irN¥ him anything," Defense Secrewiy 
Caspar W. Weinberger said. 
J-Vj “Thwewaso’t-the. slightest damage 


i 


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10 K ' 


* *_■ .u _ _ j j- wcuucauay uiai uc wua pu wivavu 

ofLLSLin? -by the actions of three Soviet men, 

a^jssasssa 

f °Ahhough Mr. Yurchenko's con- <*«.** ** " You 

(CtwtimMd pB CoL 1) (Contiuoed on Page 3, CoL 4) 


By Victor L. Simpson 

The Autwuioi Pmn 

ROME —The Chamber of Dep- 
uties gave a vote of confidence 
Wednesday to Prime Minister Bet- 
tino Craxfs revived five-party co- 
alition. 

During the session, the Socialist 
leader defended (be right of the 
Palestine Liberation Organization 
to resort to arms. 

Mr. Craxi's government fell Oct 
17 when Defense Minister Gio- 
vanni Spadolini of the small but 
influential Republican Party with- 
drew support. 

He said he had not been consult- 
ed before the government allowed 
the release of Mohammed Abbas, a 
PL0 official who allegedly master- 
minded the hijacking of the Achilla 
Lauro, an Italian cruise liner. 

The United States had requested 
lhai Mr. Abbas be hdd pending 


extradition proceedings. An Amer- 
ican passenger was killed during 
the hijacking. 

The Republicans rejoined the co- 
alition alter Mr. Craxi agreed 10 a 
foreign policy document that said 
the PLO could be part of the peace 
process only if it follow ed “without 
reserve the road of peaceful negoti- 
ations." 

Wednesday’s vote, following two 
days of debate in the Chamber or 
Deputies, was 347 in favor of the 
government, 23S against, and 1 ab- 
stention. 

The Senate will vote on a confi- 
dence motion this week; Mr. Craxi 
is expected to win easily. 

If he does, the government Mr. 
Craxi formed Aug. 4. 19S3. remains 
in office. On Nov. 15 it would be- 
come the longest-lasting of Italy's 
44 govemmenis since World War 


11. beating the previous record erf 
833 days. 

During the debate, Mr. Craxi 
drew’ criticism from some of his 
coalition partners for defending the 
legitimacy of armed struggle bv the 
PLO. 

He said of the group’s armed 
struggle for the creation of a Pales- 
tinian state. ”1 don’t contest the 
legitimacy of il" 

He added. “To contest to a 
movement wanting to liberate its 
own country from a foreign occu- 
pation the legitimacy of the resort 
to arms means to go against the 
laws of history.” 

The leader of the Republican 
Party, Giorgio La Malfa, shouted 
from the floor, “We contest the 
legitimacy of iL” and other coali- 
tion members expressed displea- 
sure. 


Deputies from the far-right Ital- 
ian Social Movement began shout- 
ing and had to be called to order. 

Mr. Craxi cited one of the heroes 
of the Italian unification move- 
ment in tite 19th century. Giuseppe 
Mazzmi, saying that he. too. pro- 
moted political assassinations even 
though he was a pacifist and very 
religious. 

His remarks drew long applause 
from his own Socialist Pany and 
from the Communists, the ’main 
opposition party. Deputies from 
the other parties, including the four 
coalition partners, remained silent. 

The coalition consists of Social- 
ists, Christian Democrats. Republi- 
cans, Social Democrats and Liber- 
als. 

Aristide Gunneiia. deputy secre- 
tary of the Republican Party, said 
Mr. CraxT s remarks were those pf a 


“politician, a secretary of a party 
and not the prime minister or a 
coalition government,'' 

The secretary of the dominant 
Christian Democrat Party, Ciriaco 
de Mita, said. “It s always best to 
read from a text, you lay yourself 
open to fewer mistakes." 

A Social Democrat deputy, Ales- 
sandro Reggiani, said; “It's really 
too much to talk about legitimacy. 
Surely we are not satisfied.” 

The four hijackers of the Achxlle 
Lauro surrendered to Egyptian au- 
thorities and were being flown out 
of the country along with Mr. Ab- 
bas on Oct. 1 1 when U.S. Navy jet 
fighters forced the Egyptian jet- 
liner to land in Sicily. 

A Sicilian judge later issued an 
arrest warrant for Mr. Abbas in the 
hijacking It is not known where 
Mr. Abbas is now. 




Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 7 S 1985 


Doubts About Autonomy 
Amid Micronesia’s Palms 

Long Reliance on U.S. Has Failed to Prepare 
Pacific Islanders for limited Self-Government 


must ii KniNHiv i 'i 

lilt Pfll M ANpy- 
M MARIAM.* IS. / 

— / *1 

YAP I. KO&tAElfi 

IS , PO WAPf f 

V UJIJ9L-I is / 


By Clyde Haberman 

AVh iV"* r:>»;ex 

MOEN. Truk Islands — A few years 
back the Municipal Assembly banned ail 
alcohol soles on this craggy island in the 
Western Pacific. 

Prohibition has worked about as well as 
it did in the United States 60 years ago. 
Now people break the law to drink. 

Moen's police chief decided be would 
not even pretend to enforce the rules. His 
defiance so upset Mayor Fichiia Bossy that 
he opened his own jail for liquor violators. 
Unfortunately for the mayor. Truk state 
officials dosed down his operation for san- 
itation-code infractions. 

This might be dismissed as mere comedy 
were it not for the seriousness of alcohol 
abuse, not only in Truk but throughout the 
2.000 islands in the vast Pacific chain 
known as Micronesia. From the highest 
official on down. Micronesians list drink- 
ing os one of their most debilitating social 
problems and the chief cause of nearly all 
violent crime. 

Tnikese say that Moen's liquor ban has 
cleared the streets of many drunkards 
prone to knife fights. But it has also created 
a new category of lawlessness and has basi- 
cally failed, they say. 

Some people then add as a postscript; 
just like so many other ideas borrowed 
from the United States. 

Having spent the last 5J> years as a U.S. 
Trust Territory. Micronesia is now an as- 
sortment of young governments looking 
for limited political autonomy. The transi- 
tion process has beer, arduous, often 
bogged down in disputes with Washington 
over the conditions for home rule. 


But even if the wrangling vanished over- 
night. Micronesians agree, with little dis- 
sent. that long U.S. rule has failed to pre- 
pare them to stand on their own. h is not 
just that they have come to expect the U.S. 
aid, which is more than SI 10 million a year 
for about 135.000 people. They are no 
longer able to survive without it. 

Stories are similar on most of the 100 or 
so inhabited islands. Planned fisheries 
somehow never open. Copra mills open, 
but quickly close. Chicken-raising projects 
fail because necessary feed cannot be flown 
in on time. 

The only growth industry is politics. The 
only significant employers are the many 
national, state and municipal governments, 
whose budgets consume most of the U.S. 
aid. 

At least half the salaried workers 
throughout Micronesia hold government 
jobs, which pay far better than Die relative- 
ly few private sector positions that are 
available. In a sense. Micronesians say. 
government employment itself is a form of 
welfare. 

“The Americans have been successful at 
making us politicians.’* said Ignacio Anas* 
tacio. a member of the Palauan Congress. 
"But in terms of giving us economic devel- 
opment. I would” give them a big F.“ In 
most U.S. schools. F denotes failure. 

On the island or Ponape. a longtime 
American resident agreed: HVe just don’t 
make very good colonialists.” 

A few people look back almost wistfully 
to the 30 years of Japanese domination that 
ended with Japan's defeat in World War II. 
Japanese troops had plans to execute entire 
island populations, older people recall, but 



-AJ 




■ -\fttXIUTeOSTATCSi 
OFSBCRONBSU 


P.U lf»L 
C h 


Vapua 

ME.WGU1N&A 


Villagers in 
Moen in the 
TruJk Islands. As 
elsewhere in Mi- 
cronesia, people 
are grappling 
with the issues of 
autonomy. 


WORLD BRIEFS ? 


Lange Denies Deal on Agents’ Fate < 

WELLINGTON. New Zealand (KflMffl - Prow Minister Owttf 
Lange insisted Wednesday that hisaHWB} Adn* ncsomM wHbFra^. 
over the fate of wo French sous mvofcei *s suiting «* Rainbow 

Warrior protest ship. 



at least they ran thriving sugar-cane plan- Micronesians have lost basic skills that “you've got to get op at 2 or 3 A.M. and 

ta lions and built roads. enabled them to survive for centuries. They stay out there in the heat and rain afl day _ 

Some places appear to have given up live on lush islands, surrounded by waters long. You’ve goi people saying. ‘Why do the community. “We are counting on Europe, we want it to count on us.” 
entirely. Were it not for its palm trees and thick with tuna, yet they prefer canned fish this?* It’s easier to eat breadfruit and ax»- he said. “We will not be Europe’s poor nriarion." 


arrested by the New Zealand authorities in July after an explosion sank-, 
the ship belonging to the environmental group Greenpeace. A crew 
member was killed in the blast in Auckland harbor. ^ . 

Two French ministers have said there were contacts between the two 
countries over the fate of the French spies, who pleaded- goaty 
manslaughter and sabotage charges Monday after charges or murder 
were dropped. Semendng vs scheduled Nov. 22. Mr. Ungulates, 
rejection of the French assertion, his third * nee Monday , followed * . 
statement by Roland Dumas. France's minister for foreign refatkms. _ 

negotiations had taken place. 

Portugal’s Prime Minister Sworn In 

LISBON! Reuters) — Anibal Cvact* Silva 1 was _ sworn in Wednesday a* 
prime ranis ter. and promised chat his center-right Social Democ wii d~ f 
government would not allow Portugal to become Europe's “poor rela- 
tion” after it is admitted to the European Community in January. 

Mr. Cavaco SBva. 46. said the poverty and underdevriopment that 
have plagued Portugal could not be tolerated in a country aboorto join 


tranquil lagoon, much of Moen. the main 
island in the Truk group, could easily be 
mistaken for the slums of New York. ’ 

Everywhere the walls are covered with 
graffiti, occasionally obscene. Stores and 
small buildings lie abandoned. Dozens of 
rust-eaten cars litter the roadside. A on.ee- 
vi brant church-affiliated school. Mizpah. 
has sat empty for a dozen years, gone to tail 
weeds. 

What worries both Micronesians and 
.Americans is that a permanent “dependen- 
cy mentality'' may have developed. Yeu 
the same people who complain that the 
United States Hooded the islands with wel- 
fare programs, starting in the 1960s, also 
fret that American funds might decline. 


and fruit brought in from abroad. 

Exports are negligible. According to a 
study by the Reverend Francis X. HezeL, a 
Jesuit priesL who has lived in Micronesia 
for many years, fishermen in Palau hauled 
in an average of S.9 milli on pounds f about 
three million kilograms) of tuna a year 
during Japanese rule in the 1930s. Hie 
official figure for 1983 was 930,000 
pounds. 

“People have been taken care of for so 
many yean, that they’re used to it," said 
Bernard Helgenberger. a Pooapcan who is 
secretary for resources and development in 
the Federated States of Micronesia, one of 
(our governments within the trust territory. 

“For fishing." Mr. Helgenberger said. 


dul 

Unhappiness with Micronesia’s plight is 
hardly new. Some Micronesians say that if 
they could only export the many reports 
churned out by consultants and” analysts 
over the years, they would enjoy a healthy 
trade surplus. 

The territory contains the Marshall Is- 
lands. Palau, and the Federated States, an 
association of the Caroline island groups of 
Truk, Ponape, Yap and Kosrae. A fourth 
dement of the trusteeship, the Northern 
Mariana Islands, elected in 1976 to become 
a commonwealth. 

For the last six years, the noucommon- 
wealth states have formed their own gov- 
ernments. 


The Social Democrats’ campaign m the October general election 
emphasized business confidence and growth after austerity measures--' 
taken by the previous Socialist-led government kd to a drop m towsg/. 
ment and real salaries. Mr. Cavaco Silva's party bolds 88 of 250 seats in i 
the new parliament. 


Central America Arms M<raeySougbt 


'M 


Israeli Settlers Threaten 
Unrest if Land Is Traded 


Bv Thomas L. Friedman 

New Y.-rk Tore* 

JERUSALEM — The leadership 
or Israel’s Jewish settlers has 
threatened civil disobedience in the 
West Bank if Prime Minister Shi- 
mon Peres attempts to negotiate 
any exchange of territerx for peace 
wiih Jordan. 

The settlers said Wednesday that 
they would view any Israeli govern- 
ment that gives up an inch of the 
occupied West Bank as “illegal” 
and would deal with it accordingly. 

Their declarations reflect the in- 
creasing concern among the 45.000 
Jews living in the occupied territo- 
ries that they might be called upon 
to withdraw from some of their 
settlements in return for a peace 
anangnnent with Jordan. 

Their remarks Tuesday were 
viewed by political commentators 
os an unambiguous warning to Mr. 
Peres that if he tries to negotiate 
any kind of territorial compromise 
with King Hussein. Jordan's lead- 
er, he could face an uprising among 
his own people. 

The Council of Jewish Settle- 
mem in Judea and Samaria, which 
represents the Jewish settlers on the 
West Bank, met at the settlement of 
Ofra to formulate a statement pul- 
ling Mr. Peres’s government on no- 
tice. 

According to Israel Harel. a 
member of the council, the commu- 
nique said that all of the plans and 
proposals allegedly linked with Mr. 
Peres about possibly sharing secu- 
rity in the West Bank with Jordan 
or halting Jewish settlements “are 
illegal plans.’’ 

Such proposals “contradict the 
Law of Return, the laws annexing 
Jerusalem and the Golan Heights 


China Reports Pledge 
To Expand Libya Ties 

Los Angela Times Service 

BEIJING — China and Libya 
have pledged to expand economic 
links, according to Xinhua. 

The agency reported a four-day 
visit to Ubya by Vice Prime Minis- 
ter Tian Jiyun. saying he met the 
Libyan leader. Colonel Moaiuer 
Qadhafi. on Monday. 


and. above all. the basic constitu- 
tion which states as its objective 
immigration, settlement and sover- 
eignty ova the entire Land of Isra- 
el.” the statement said. 

The settlers assert that Jeushave 
a God-given right to control all of 
the Land of Israel, which consists 
of Israel with its pre-1967 bound- 
aries plus the occupied West Bank 
and Gaza Strip. 

The declaration also said that the 
plans allegedly contemplated by 
the prime minister for "handing 
over to the enemy all or pan of the 
Land of Israel are an illegal action 
and must not be obeyed.” 

It said that any Israeli adminis- 
tration that carried out such a pro- 
posal “should be regarded as an 
illegal government.” adding: “We 
warn that any partition of the 
country will cause a rift in the na- 
tion.” 

Elyakim Haetznj. a member of 
the council, later told Israel Radio: 
“If Mr. Peres wants to buy peace at 
such a price of giving away our 
dreams, the dreams of the Jewish 
people for 3.500 yean, the hopes, 
the tears, the ideals, everything — if 
he warns to buy peace with the 
Arabs at this price — he should 
take into account that he may have 
a struggle — I hesitate to use the 
term war — with the Jews. I hope 
that it will be at any rate a civil 
struggle.” 

An article in one of the settlers’ 
magazines. Alef Yod. warned that 
civil war. not civil disobedience, 
would be the result of any territori- 
al compromise with Jordan. 

[Mr. Peres accused the settlers 
Wednesday of trying la create “an 
atmosphere of feir,” Reuters re- 
ported from Tel Aviv. The prime 
minister told Israel's parliament 
that the settlers had “taken upon 
themselves the legislative role of 
the Knesset to determine what is 
lawful and unlawful in Israel.”] 

As the threat of civil disobedi- 
ence by Jewish settlers dominated 
the headlines, the reality of Arab 
violence against Israelis followed 
closely behind. 

On Tuesday night, an Orthodox 
Jewish man in bis 60s was stabbed 
in the back as he was w alking 
through the Damascus Gate of the 
Old City of Jerusalem, police said. 



Both Major U.S. Parties 
Claim Victories at Polls 




Ovadia Barn chi, an Orthodox Jew who was stabbed in the 
back Tuesday night in Jerusalem’s Old City, was ques- 
tioned by police at a hospital before undergoing surgery, 

fighting Breaks Out in Beirut 
As Peace Effort Comes to Halt 


THE BREAKFAST TIME TOAST 


At 9am each day the board members of James 
Burrough may be found making their toast. 

That's the time when they sample and ‘nose’ the 
previous day's distillation of Beefeater London Dry. 

They like their toast to be clear, brilliantand subtly 
balanced. With a dry softness that doesn't overwhelm 
the palate. 

Only then is it allowed to leave the distillery 
bearing the proud name of Beefeater. 

Invariably it meets the required high 
standard. 

Which is undoubtedly what prompts 
them to raise their glasses to the memory 
of their founder Mr. James Burrough. 

A man who, just like them, was 
inordinately fussy about his dry toast. 



THE GIN OF ENGLAND 


Reuters 

BEIRUT — Fighting between 
Moslems and Christians erupted 
Wednesday in Beirut as a Syrian- 
-backed peace drive came to a tem- 
porary standstill because of objec- 
tions from Christian political 
leaders. 

There was several hours of fight- 
ing along the so-cilled Green Line 
separating Beirut’s Christian and 
Moslem-held sectors. Shells hit 
nearby residential districts in the 
worst clashes since Christian. 
Druze and Shiite Moslem militias 
reached a draft peace accord 12 
days ago in Damascus. 

The clashes started as a radio 
controlled by the Christian Leba- 
nese Forces militia said die draft 
needed more discussion and “cor- 
rection” after strong criticisms 
Tuesday by two former Christian 
presidents. Camille Chamoun and 
Suleiman Franjieh. 


The Lebanese pound, a sensitive 
political barometer, plunged on ex- 
change markets. 

Moslem political sources in Bei- 
rut, however, said Syrian leaders 
still believed the draft pact would 
bear fruit. 

Voice of Lebanon radio, con- 
trolled by the Lebanese Forces, 
also quoted a Christian militia 
source as saying the peace drive 
was not reverting to “zero.” al- 
though the militia had made sug- 
gestions for altering it 

There were no new talks in Da- 
mascus during the day and the 
pound fell in Beirut from 16.45 to 
17.42 to the dollar after surging on 
peace hopes in the past two weeks. 

Christian militia officials who re- 
lumed Tuesday night from talks in 
Damascus said for the first lime 
that the draft was “not the final 
version of the agreement,” 


By Phil Gailey 

A'«i’ York Times Service 

NEW YORK — The two major 
U.S. political parties divided the 
spoils from Tuesday’s two guber- 
natorial elections, and each party 
claimed a major victory with na- 
tional implications. 

In a historic sweep in Vir ginia, 
Democrats won the governorship 
and elected their nominee as lieu- 
tenant governor, the first black to 
win a major state office in the 
South since Reconstruction. 

Voters in the state once consid- 
ered a Republican stronghold also 
elected a Democrat, a woman, as 
attorney general. 

Meanwhile. Republicans called 
Governor Thomas H. Kean’s lop- 
sided re-election victory in New 
Jersey a major step forward for the 
party’s effort to broaden its base. 
Mr. Kean, benefiting from biparti- 
san support and his state’ s econom- 
ic resurgence, defeated his Demo- 
cratic challenger, Peter Shapiro, by 
nearly a 3-to-l margin. 

The two statewide contests were 
being watched by both parties for 
the Fust signs of political move- 
ment since President Ronald Rea- 
gan’s landslide re-election a year 
ago. 

In Washington. Republican Par- 
ty officials hailed the New Jersey 
results as evidence of continuing 
political realignment. And Demo- 
crats called the Virginia outcome 
evidence of the party's potential to 
regain its strength, particularly in 
the Southern states where Republi- 
cans have scored some major gains 
in public support under Mr. Rea- 
gan’s presidency. 

Virginia voters elected Gerald L. 
Baliles as the second Democratic 
governor since 1965. Mr. Baliles 
defeated his Republican opponent, 
Wyatt B. Durreae. by a comfort- 
able margin. Mary Sue Terry, a 
Democrat, easily defeated William 
R. O’Brien, a Republican, in the 
race for attorney generaL 
in the contest for lieutenant gov- 
ernor, a Democrat. L. Douglas 
Wilder, who is the grandson of a 
slave, defeated John Chichester, a 
Republican. 

Paul G. Kirk Jr, the diai rman of 
the Democratic National Commit- 
tee, issued a statement heralding 
#K “ “Democratic sweep” in Virgoi- 


“The interesting thing about Vir- 
ginia is that you had a Democratic 
ticket running as far away from the 
national Democratic Party as they 
could run. It’s a warning to us as we 
prepare for the 1986 elections that 
we have to draw a straight line 
between our party and theirs.'’ 

Elections also were held in doz- 
ens of cities around the country. 

Geveland voters re-elected May- 
or George V. Voinovich. the presi- 
dent of die National League of Gt- 
ies» to a third term. He defeated 



Richard G. Lctgar 


Washington inytl— T he> 

Reagan administration has ask^u 
Congress to authorize $54 nrilIioaj$ 
in urgent supplemental assistance-*- 
to train and eqnip police and 
taty forces in Central America 
deal more effectively with terror * 
isa 

However, theadnuaistrnuon aL, 
countered criticism Tuesday 
Senator Richard G. Lugar, the fa-, In- 
diana Republican who is chairman - 
of the Senate Foreign Rebtkos, 
Committee, for including Grata- * 
mala in the proposal until an decid- 
ed dvtfian government is in oftufe 
Democratic members of the com - 
mittee asserted' that there was 
coatradidioa between mounting 
counterterrorism program 
supporting Nicaraguan guerrillas. -- . 

The new money, to be used in H ... 
Salvador, Honduras. Costa Rica, ' 
Guatemala and Panama, would be’ : . 
in addition to military assistan ce,-', 
totaling slightly more ihan $2SJ-J . 
million, that has been authorized;, 
for those countries for the 198<£ 
fiscal year, which began Oct. V" . 
More than half of the money i*^ 
earmarked for B Salvador. ^ 


Gary Kucinicb, a city councilman MaTCOS Will Handpick &HHIUM MatC; 
the d tv’s former „ . , _ 


and the brother of ihedty’s former 
mayor, Dennis Kurinich. 

In Miami Mayor Maurice A. 
Ferre was in a contest for one of 
two spots in a runoff election that 
some say has divided the city’s His- 
panic and black voters along ethnic 
lines. 

Mayor Kathryn J. Whitmire of 
Houston took an early lead in a 
contest that centered on her politi- 
cal support from the city’s homo- 
sexual community. Her opponent, 
Louie Welch, a former mayor, 
sought to make a political issue of 
growing public fear of acquired im- 
mune deficiency syndrome, or 
AIDS. 

■ Koch Wins 3d Term in N.Y. 

Mayor Edward I. Koch of New 


MANILA (AP> — President Ferdinand E. Maroos said Wednesday 
that be would handpick his wee presidential running maw if an election it', 
held in January as he has proposed. He said he would call a caucus of to' . 
ruling New Society Movement on Friday to discuss election matters. 

“Political tradition in almost afl democratic -countries is that the?, 
running mate for vice president is usually the personal choice of 
president.” Mr. Marcos said. ... . jjT 

Asked what criteria hewouid use in selecting his running mate, he said? • 

“Prestige, strong popular appeal and, more than the, that if anything 

happens to the president, be wB make a good, credible preadenL” Hie. 
wife. Iroelda Marcos, who returned Wednesday from a trip to the United- “ 
States. Italy, the Soviet Union and Japan, denied that she had any * 
intention of tunning for the vice presidency. . 

For the Record : * 


Tbe Indian state of Assam will hold elections Dec. 16. Four months aga *' 
a settlement was reached after five years of sectarian conflict that had 1 * 
claimed more than 4.000 lives in the northeastern state. (AP) U ' 

. Hundreds of thousands of wmfcers in themetaL chemical and plastics' u 

York, savoring one of the most fop- industries went on strike Tuesday in Sad Paulo to demand higher pay A*$- 
sided mayoral victories in the city’s union spokesman said that “at least 500" factories had been closed. MP1” 
histoty, promised to tackle The _ The president of Haiti. Jean-CIaude Duvalier, reshuffled his cabinet ' 
toughest things lean m his third Tuesday night, dismissing eight ministers and creating two new minis-- ’ v 
term — and then probably run for tries. The outgoing minister of interior and defense. Francois Guillaume, ' - 
a fourth. The Associated Press re- was brought into the cabinet only two months agp. (AFP)‘‘ ’ ‘ 

YoriL r— Tanzania's new president. Ali Hassan Mwinyi, has selected the former :’ 

Mr. Koch, who ran as a Demo- prone minister, Salim Ahmed Salim, as deputv prime minister and- 

defense minister, and he is keeping Benjamin Mkapa as the foreign 

mjmster. r (Reutersf’ 1 

Sweden has lifted a twomowb ban on arms sales to Singapore alt2‘ ‘' 
receiving assurances that weapons previously sold had not been re - ' ' 
exported, reported the defense minister. Goh Chok Tong. (Raamf- ' 

of challenge remained intact. David Lange’s administration. now ior nmc Mpum* ■ 

Rise Charted in U.S. Life Expectancy A 

Hawaii Residents Are Said to Have Best Chance of Longerity ? 


crat and an Independent, received 
76 percent of the vote Tuesday, 
defeating right opponents. 

The mayor, 60. whose ebullient 
personality dominated the cam- 
paign, said he would run for a 


Karpov Wins, Narrows Lead in Chess 


Reuters 

MOSCOW — The challenger. 
Gary Kasparov, resigned Wednes- 
day without resuming play in the 
adjourned 22d game of the world 
chess championship against Ana- 
toli Karpov. 

Mr. Kaipov is now trailing by 
one point with two games to play. 
Mr. Kasparov leads the series by 
114 points to 104. 

Mr. Karpov will retain his title in 
the event of a 12-12 tie. A draw 
counts for a half point for each 
player. A win counts for one point. 

Mr. Kasparov’s former lead of 


two points had been considered by 
experts as unbeatable so late in the 
championship. Mr. Karpov's confi- 
dent comeback surprised the crowd 
and grandmasters. 

If Mr. Karpov draws the next 
game, in which he has the black 
pieces, the stage will be set for a 
decisive final game, with the cham- 
pion having the advantage of white 
and needing a victory to retain a 
title that he has held for 1 0 years. 

Soviet sources said arbiters had 
refused a request by Mr. Karpov to 
postpone the next game, scheduled 
for Saturday, until Sunday. 


the 
ia. 

“The unified Virginia ticket 
proved that diversity within the 
Democratic Party can once again 
be a strength,” Mr. Kirk’s state- 
ment said. The Vir ginia race, he 
added, “makes it dear that when 
Democrats address common inter- 
ests, mainstream concerns of the 
average American without regard 
to race or gender, we win.” 

Frank J. Fahrenkopf Jr., die 
chairman of the Republican Na- 
tional Committee, said the election 
results in both New Jersey and Vir- 
ginia “means that realignment con- 
tinues.” 

He explained: “The fact that 
Tom Kean and the party are run- 
ning so strongly is a continuation 
of what we saw in last year’s prea- 


By Spencer Rich 

Washington Post Service 

WASHINGTON — Residents 
of Hawaii have the highest life ex- 
pectancy in tbe United States and 
residents of Washington, D.C. the 
nation’s capital have the lowest. 


to 1981 continued throughout, their 
lifetimes. 

Nationwide, the states with the 
highest life expectancy rates from 
1979 to 1981, after Hawaii were: 
Minnesota. Iowa, Utah, North Da- 
kota, Nebraska, Wisconsin, Kan- 


according to a report by the Na- Colorado, Idaho, Washington 
tional Center for Health Statistics, ^ Connecticut 


The study indicated that Efe ex- 
pectancy for ail U.S. population 
groups now is about a year more 
than in the 1979-8 1 period and four 
years more than in 1969-71. 


Many or the southern states were 
among the lowest in life expectan- 
cy. Ranked just above the District 
of Columbia were Tennessee, Dela- 
ware, Kentucky, North Carolina, 


I**) w 

census and from death rate s tatis- 


The Heckler report said that be? 
cause of low income, blades and-,, 
some other tmnority-group - 
bers often have poor diets, no.-,; 
health insurance and little means tq . ; 

P?y tor medical care, resulting in_-. 
high rates of death and infant mot _ 
tahty. 

Overall national statistics shew'" • ' v 
that whites have far higher life ex^i 
pectanqr than blacks. For ihtf peri* •! V 
oq studied, overall life expectancy- 1 * .. 

73.88 years, while for blacfcs .T 
alone tt was 68.52. “ ~ 



* 8 , S M: Georgia, Mississippi, Preliminary national figures for ;*» - 
South Carolina and Louisiana. - according to the National 1 * 

, a 1®°”“ rep on on minority Cem er for Health Statistics, ouT-J 
health, Margaret M. Heckler, the Ufe expecta^f^S !• -- - 
of healtit and human ser- *?«»« [74.7 years in 1984, with metiji V 
department statis- at 71 1 years and women at 78^5? - ■’ 
of Asian and ,-.,p 

wi «iv» u, s prest- tne 30 states, with an overall life bealthLn J° ** ^ overall" figure k 

expectancy of 69J0 jran 64.55 ETu.® £ « for - :j / 
bean candidate cracking Demo- veare for m» and 7VTn f«r ^ less and 78.8 for women; for blades, the •. *> 

!®S bro tosher Ihan told _.;f. 

Explanations that have beec 


tics, tbe report estimates that the 
average life expectancy of Hawaii 
residents in the years from 1979 to 
1981 was 77.02 years, with men at 
74.08 years and women at 80.33. 

The District of Columbia trailed 
the 50 states, with an overall life 


Cracking 

crane voting groups.” 

In Virginia, Mr. Fahrenkopf 
said. “We allowed the Democrats 
to out- Republican us.” He added: 


years for men and 73.70 for wom- 
en. 

The figure, released Tuesday. 

were tbe latest available for indi- Asian origin, sfao^ w Se*hiahiS 
vidua] states and represent the life expectancy. 
number of years the average infant ~~ 


Full winter 
collection 

ESCADA 

at European 
export prices 

Marie-Martine 

8 , Rue de Sevres, Paris 6 th. 
TeL: ( 1 ) 42221844 . 
Oedit cards 


. ... - . Tte krg® number of blacks with *■ — “*« l Havctccu - 

would live if the death rales pre- low incomes in the District of Co-- ■ J** 5 genetic differ - 1 

vailing daring the period from 1979 lumbta and in southeastern sum** ®“*Sjjes5job stress because fewer • / ' 

could explain ibe low rates oc ? de ' Sj . 

expectancy there. _ J™™* of smokfcg an* % 





MCHBOrS 

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UNIVERSITY 

DEGREE 

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for free evaluation. 

| PAOTC WESTERN UKVERSfTY 

M0 N. Sepulveda BfvdU . 
Lo» Ansefes, Calltarnkrt' r ■ . 
9004 V. Dept. 23 , U^A. 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 7, 1985 


*** Deal 


r **<CS 




, In Tiny Town, Germans 

" Direct Scientific Tests' 

-O ' 

fpp fi r SC' 

tr c , ri3or . Wot Germany — For om week, 

1 this Bavarian namlet with s name 



Performed on Shuttle 


r-'^ u 


By John Tagliabue 

Vnt ’ J’eri Turin Jpvtn 

OBERPFAFFENHOFEN. 


’ J» ’ 1 








yho 


:‘’ ,J ^niV'v Mr - 


mile \J: 


with 8 name 
. 25 long as a countdown has been 
the control center for sdemific ex- 
J; Kliments aboard the U.SL space 
^■'■shuttle Challenger. 

*.$• ht a sheet-metal shed across a 
t^xmay road from apple trees and 
' grazing cows, project controllers 
kpver over glowing terminals. 

1 dW A ^* ter Saiun ’ the prefect's 

l *Qhlsc3att fic director, explains at a ea- 
- - . . . 'N'm* “** conference that a slime 

1 * " 8®i SdJf f =ulrare is growing more slowly 200 
’ • .. m * (324 kflomeia?) aloft than 

- . . ■"" .^'tvSV.tod been expected. 

• 1° a Converted airplane hangar, 

•• In J MJunirJ^r C^onel C. Gordon Fullerton, a 
U-S. astronaut and the commander 
M ^.nf a previous Gennan-American 

missioa, tells' visiting schoolchJJ- 
. . ■.. . :r ' alter bow h feels to be weightless, 

•'^irnj 1^ Marcos Buchwald, a 19-year-old 

rvmk.1. Hup^high school student, exhibits the 
' ofJStfc tiny wheat plants that he grew from 
'grain that was exposed to cosmic 
rays on that earlier f ligh t - 
When the Challenger blasted off 
i from Cape Canaveral. Florida, last 
‘week on an eight-day mission that 


- West Germany is a major finan- 
cial and saentifu: contributor u> 
the European Space Agency, which 
built Spiflgfab, the' reoseable lab- 
oratory that booses the shuttle 
flights experiments. - 

But Mr. Rkspahnber, the re- 
search minister, has based more 
toward cooperating with the Unit- 
ed-States than in joint projects with ■ 
the French. 

France has proposed a reusable 
orbiting craft, to be called Hermes, 
that would be carried up by the 
Fttndhtaik Amur rocket and 
would be ready for use by ibe 
1990s. • . • 

But the German experts at the 
control center here were* clear 
about their preferences. “For the 
development costs of Hermes,” 
said Hansubich Steatite, director of 
the control center. “you can pay for 
over SO shuttle flights." 



FIRE AT U.S. REFINERY — Three explosions at a gas storage facility in Mont 
Befrieu, Texas, killed two workers Tuesday and forced the evacuation of the town's 
2.000 residents. Company officials ax the Warren Petroleum refinery, about 30 mBes 
east of Houston, said the explosions resulted from a rupture in an underground pipe. 



Officials Say 30 Marijuana Growers 
Are Involved in Mexican Police Deaths 


^rit a Arms jl| 


Soviet Sailor Cut Wrists on Ship, U,S. OffidalSays 


IN 


7! n jJ ^ n 'sira^J'' !nded Wednesday in California, it 

ihorn* ® Carried a Eiuonean-htrilr lahnnrn. 


By Loncrta Tofani 

Waihmgtan Pott Service 

WASHINGTON — A Soviet 




.r„.. 

r -<Tc 


^'PlKfce, 

‘, c C E 


in the 17-foot- long (5.1 6-meter) 
" ib earned out nearly afl of 


m-- 



tiuj. ^:the 76 experiments included on 
■ Hi ■■ I heir 

‘ •' iht aA-, . West Germany has paid S65 mB- 

" criiirimT*:® 00 for die use of the shank. the 
■' - '-‘T Richly firstm be entirely ebartered by. one 
f'ipub] ll - 11 ,.i. ^.'.customer, for the international sd- 
::.5; Scnaic ^ n1 ^ 011 '' 

r „ ^ “They consider this a really big 
t. the nr-rv r^ iStcp " ^ FuUerton said, “not to 
• : u >be just the backup team, but to be 

: • - iir el, “ n ?*La;in charge." . 

- ”i.J- m ? n r TS fie' 1x1 an Eanh-to-orbh television O T 7"« 1 11 

Kimball, 


die Mississippi River last month 
apparently cm bis wrists after U.S. 
immigration officials returned him 
to the vessel, a Stale Department 
- official has told a Senate subcom- 
mittee. 

Assistant Secretary of State Wil- 
liam M. Woessner said Tuesday 
that the captain of the Soviet 
freighter Marshal Konev told U.S. 
officials that the sailor, Miroslav 
Medvid. had sEt his wrists. Ameri- 


can donors who examined Mr. 
Medvid on Oct. 2S and 29 con- 
firmed that his wrists bad been cut. 
be added. 

“The Soviets said Medvid had 
cm his wrists himself after he came 
back on tbe ship.” Mr. Woessner 
said. “But the doctors found the 
cuts were not health-threatening 
and did not create any problems 
for the interviewing process." 

Asked whether there was indica- 
tion of a suicide attempt. Mr. 
Woessner said, “1 don’t know." 

After 3n interview with the sailor 
Oct. 29. Mr. Woessner said, offi- 


cials “concurred that the U.S. 
should allow seaman Medvid to 
return to the Soviet ship.” 

Mr. Woessner testified before a 
Senate Judiciary subcommittee 
hearing called to examine the gov- 
ernment's handling of the Medvid 
affair, which began when he first 
jumped ship Oct 24. The freighter 
remained anchored Tuesday near 
New Orleans, apparently awaiting 
a shipment of grain. 

Two U.S. Border Patrol officials 
decided to return Mr. Medvid to 
the freighter hours after he swam 
ashore because they did not think 


he wanted political asylum, the Im- 
migration and NatLralizatioa Ser- 
vice commissioner to'.d the sub- 
committee Tuesday. 

It was the government's firs: for- 
mal recounting of that sage of the 
events. 

“The agents made the determi- 
nation that he was net seeking asy- 
lum but was dearly a disaffected 
crewman,” the commissions'. Alan 
C. Nelson, said. “There were err o rs 
in tbe performance ef the INS offi- 
cers who processed Mr. Medvid's 
request for asylum.” 


.. ,.. P , search minister, Heinz Raesen- 

1- /v n ' m P 1 ^® huber, dotted with the German TtiT 

Nicaragua jjj. astronauts, Ernst Messersdunid, ' Ml I iYl fYV*YYlrfTTI 

- "t'* money, to hf’ ft .40, and Remhard Fnirer, 44, who ITiUA H1UI1 

^''^uras, c^iare both physicists. T - _ 

and PanjHat Asked about technical irregular- I Tlld^C 

>n miliuiy pities that had slowed the round- the- AiCflUvl j JLJm .% 355 
*■? lightly mm clock pace of the experiments, Mr. 

- <hji has hetn ffi .Messarsdunid said the crew tried 
1 '■•luninci fa a to catdt up **by patting in a few 

•- ---r which biaj (.extra drifts." 

' an half of fe ac Bonnie J. Dunbar, an American 
- - ' " •* .c f. -r El Sahida 35110112111 an ^ biomedical engineer, 

L&l the research minister in fiaent 

Ii,- }T , i ■ i. p . lf c5&rm2 ° *bat the international spiritual jiivfleges in the world- 
l i-ii tt-iU:, s\ ttUnnincr|teani of astronauts “worked very-w^ reugous^body, died here 

• - t< ^5^ er ' T * u m ^ Tuesday night after surgery. 

i-ot aid Wife In addiuon to the two West Ger- . t” . . tL* . , 

-- “-r.r.D? mate ifattrnans and Ms. Dunbar, the space Few leaders of the Church of 

* - ’■ tiki callacm&^nztCle crew included four more 
>: s.uv elcciioa Bt Americans and a Dutch scientist, 
cHintno BcSVubboXOckds, who represented 


By John Dart 

Las Angela Times Senuve 
SALT LAKE CITY, Utah — 
Spencer W. Kimball, 90, the Mor- 
mon Church leader who broke pre- 
cedent to give black members full 


»r 




B. Lee; 

Mr. Kimball had been in poor 
health since first undergoing sur- 
gery in September 1981. 

He was mostly confined to his 
rooms in the Hotel Utah, next (o 
the church headquarters. But Mr. 
Kimball still attended most semi- 
annual church conferences and 
sometimes appeared at weekly 
meetings in the Mormon Temple of 


iie Lxp 


Jesus Christ of Latter-day Saints 
expected the former banker and 
businessman to enjoy a long term 

ll-tt*. Eokx*^ -S pice. KlSh-TSf 
Agency. It was the hugest shunle 'M: K ™ baI1 

-.■nmnm.mttalwcwer - . named to the post by virtue ofhis 

.. . nmnm^oMteaw ever. . semority after the demh of Harold 

. :rion this, that if sc Hubertus Wanke, division direo- - J 

- - .TcJihle pnaka tor for misrion operations and con- 
. y from a trip tofchtrol, said the control center’s ragtag 

- cerjed that sk t collection of stncco buildings, 

sheet-metal hangars, tents and con- 
tainers was linked by a complex 
satellite hookup with the shuttle 
and with tbe missioa control center 
It Fniw?* 0 ^ ouslOT ^ communications 
' ■;.L'uncn D |fak^ tbc »« 11 P 1 rterized transfer of 

ifflic. < - cmtro ^ of the shuttle and its 

• -■ ,J ' kfem, f h T5^|qport systems, such as electrical the chinch’s governing First Presi- 

• genera tiem units, were in the hands dency ami Council of the Twelve 

• of Houston, he said, and conduct of Apostles. 

- re^nuflica »■- [he experiments was directed from During the last two and a half 
. j .'cjiinjiMi*: this town about 15 miles outside 

Frainaft®J MumdL E n gli s h is the working 
4. > : language at the control centers and 

. - . .. ti- ids® 14 * aboard the Challenger. 

•j.--"- pnme Mr. Wanke pointed through a 

MUw ts ® 7 window to the hub of control activ- 

^ ides, which space officials have 

- .k- 10 dubbed the Hshbovd. There, engi- 
^.[j fuil aoi neers and scientists worked at com- 

, r. t .j, Tone. ^ p uter hanks and other dectronic 
, -'rniiwpi c- equipment, keeping track of the as- 
1 > .pi-Mirap^^ tron3:ras ’ work round the docL 
‘ f 0 rPn*£ Most of the experiments were 
"■ ffc deagned by German researchers, 
but a number are from France, Ita- 
ly. Britain, the Netherlands, Bd- 
Switzeriand, Spain and tbe 
States. AD were devised to 
use the essentially weightless con- 
ditions of space to study 

grav>- 



U.S. to Allow Defector 
To Return to Moscow 


The space 


'£.• &UW shuttle flight illus- 
: . . K i^ r Kporu^r. trates West Germany’s preference 
;■ for doser ties with the United 
.. jiunr-n^'^ States in space, even at the'risk of 
■ r , vC port frustrating European allies, espe- 
ciaDy France. 

■■■ 

- 


years, day-to-day church affairs 
were administered by Gordon 
Hinckley. 

In June 1978, Mr. Kimball 

changed church policy to permit 

black males lo enter the Mormon 
priesthood. Historians regarded 
this as the most significant change 
since 1890, when Die church ended 
the practice of polygamy. 

The racial policy was changed 
the only way Mormons said was 
possible — by revelation from 
God. Mr. Kimball said at the time 
that he thought he would ^pend the 
rest of his life opposing priesthood 
for blades; but he said a revelation 
“came to me so clearly there was no 
question about it.” 

In 1978 he also decided to allow 
women to offer selected prayers 
previously preserved for male 
members. Bui he took a strong 
stand against the equal rights 
amendment and abortion. . 

Some Mormons worried aloud 
about what directions the church 
might take upon the elevation of 


Spencer W. Kimball 


the man next in line for the presi- 
dency, Ezra Taft Benson. 86. 

Mr. Benson, a secretary of agri- 
culture in the Eisenhower adminis- 
tration, is a fervent anti-Commu- 
nist and has long been friendly with 
rightist political organizations and 
their causes. 

Mr. Kimball surprised many ob- 
servers by taking a strong public 
stance in May 1981 against the de- 
ployment of the MX missile in 
Utah and Nevada. He emphasized 
“the pressing moral concern of pos- 
sible nuclear conflict" raised by 
arms buildups. 

Spencer Woolley Kimball was 
bom in Salt Lake Gty, one of 1 1 
children of Andrew and Olive Kim- 
ball. One of his grandfathers was 
Heber C. Kimball, a counselor to 
the Mormon pioneer, Brigham 
Young. 

James Groppi, 54, 

Ex-Priest, Rights Leader 

MILWAUKEE fUPI) — James 
Groppi, 54, a former priest and 
national civil rights activist whose 
efforts led to passage of a state law- 
forbidding housing discrimination, 
died Monday of brain cancer. 

Imprisoned several times, Mr. 
Groppi became a national civil 
rights figure in 1967 by leading 
open housing marches that attract- 
ed hundreds of demonstrators. 

In 1965 he also took pan in dem- 
onstrations in Selma. Alabama, 
and Milwaukee against school seg- 
regation. 

He broke with the church in 1 976 
afier his marriage 10 a former nun. 
He later enrolled in law school in 
Washington, D.C.. where he 
worked as a cab driver to pay his 
tuition. 


(Continued from Page I) 
can’t nik out that this might have 
been a deliberate ploy.” he said. 

[“You just have to accept that we 
did our best" in sheltering tbe men. 
Mr. Reagan said. He indicated he 
was as baffled why Mr. Yurchenko, 
Miroslav Medvid] a Soviet seaman 
who jumped ship twice, and a Sovi- 
et soldier in Afghanistan who 
sought refuge in the VS. Embassy 
all ocdded to go home.] 

A senior White House official 
said Tuesday that Reagan aides 
had watched Mr. Yurchenko’s tele- 
vised news conference 10 assess its 
significance for the meeting with 
Mikhail S. Gorbachev in Geneva 
this month. 

“This shows us exactly what we 
are up against in Geneva," the se- 
nior official said. “We are all obvi- 
ously keenly aware that under Gor- 
bachev, things are quite different." 

The official was alluding 10 the 
increasing Soviet willingness to 
lake on the White House in inter- 
national public relations. 

Officials said it was unclear if 
Mr. Yurchenko had gained sensi- 
tive information in his three 
months of conversations with the 
CIA. 

Senator Malcolm Wallop, a Wy- 
oming Republican and former 
member of the intelligence commit- 
tee, said Mr. Yurchenko would cer- 
tainly hare become an expen on 
CIA debriefing methods ana would 
have been able to deduce areas of 
concern to the CIA. 

But an intelligence official who 
recently left the CIA said question- 
ing in such cases was carefully ban- 
died to protect important informa- 
tion. 

In addition, he said, the ques- 
tions that would be put to a defec- 
tor about methods of intelligence 
gathering are "rather obvious." 

At his news conference Monday. 
Mr. Yurchenko asserted that be 
had been kidnapped, drugged and 
hdd by the CLA for nearly three 
months. The State Department de- 
nied his charges and said he had 
been voluntarily aiding the ClA 
and the FBL 


US. officials say Mr. Yurchenko 
defected to the Wes: in August 
while on a trip to Italy. Officials 
have identified him as deputy chief 
of a KGB directorate that super- 
vises espionage operations' in 
North America. He served as first 
secretary at the Soviet Embassy in 
Washington from 1975 10 1980. 

He was questioned by CIA 
agents and submitted to several 
polygraph tests. An intelligence 
source said Tuesday that he had 
provided, significant information 
that had been verified. 


By William A. Ormc Jr. 

H-ij/aup/wi Pot: Service 

MEXICO CITY — About 30 
marijuana growers participated in 
what is being called “The Day of 
the Dead Massacre" of 22 police - 
men in Mexico's southeastern 
swamplands, according to the fed- 
eral attorney general's office here. 

The killings took place Friday, 
on the eve of the day Mexicans 
commemorate their dead, k was 
the largest loss of life from a single 
dash in Mexico's drug wars and 
has prompted an extensive man- 
hum. 

About 100 state and federal po- 
licemen and 500 army troops pa- 
trolled southern Veracruz state 
looking for the killers of the police 
officers, whose bound and bruised 

bodies were found Saturday. Earli- 
er it was reported that 21 officers 
had been Vpl«l 

Tbe policemen apparently were 
ambushed and that killed by about 
30 heavily armed men, tbe 'federal 
judicial police commander. Floren- 
nno Ventura, said Tuesday. He 
said die attackers were all residents 
of a remote farming community 
about 15 miles (24 kilometers) 
south of the Gulf of Mexico port of 
Coatzacalcos. 

The chief spokesman for the at- 
torney general's office, Francisco 
Fonseca, said that the policemen 
apparently were lured into the am- 
bush by drug traffickers in a re- 
mote Veracruz district. Mr. Fonse- 
ca said that, according to an 
account by two witnesses, the po- 
licemen had fled on foot but were 
soon surrounded by their attackers. 

All of the agents were captured, 
bound and shot through the back 
of tbe head after running out of 
ammunition in a guofight, Mr. 
Fonseca said. 

Sixteen arrests have been made 
so far. and information from the 
suspects "will soon lead us to those 
responsible," Mr. Ventura said. 

Among the suspects being inter- 
rogated. Mr. Ventura confirmed, is 
a state judicial police commander 
stationed in the nearby city of 
Acayucan. 

Mr. Ventura said the suspects 
will be able to identify the organiz- 
ers of the attack and of the marijua- 
na-growing operation “that the as- 
sailants were protecting” 

Mexico's attorney general, Ser- 
gio Garda Ramirez, who is in Vera- 
cruz to supervise tbe investigation, 
said Tuesday, “This is the price 
Mexico is paying for confronting 
the-ve faceless criminals." 

Tbe ambush took place in Hidal- 
go ti ll An, an isolated community of 
cattle ranchers and grain farmers in 
the sparsely settled Tehuantepec 
Isthmus lowlands. With vast tracts 
of marsh and rain forest separating 
stretches of savannah, the region 


tus few roads but is “full of landing 
strips, many of them clandestine,” 
Mr. Fonseca said. 

Marijuana cultivation is wide- 
spread in the area and patches of 
opium poppies were discovered re- 
cently, he said. 

“The problem is economic, and 
the peasants are the Us: people we 
should blame," Mr. Fonseca noted. 
“It is a depressed area, and the 
traffickers are able to pay them S20 


for a little crop erf marijuana when 
they would earn maybe $2 for the 
same amount of com." 

Mexico is said by the U.S. au- 
thorities to lx the source of one- 
third of the heroin and perhaps 
one-fifth of the marijuana import- 
ed into the United States, as weii as 
the conduit for as much as one- 
third of the South American co- 
caine brought into the United 
States. 


Army Troops Patrol Slums of Santiago 
After Demonstrations Against Pinochet 


Veiled Pros IntenubuiiJ 

SANTIAGO — Army troops pa- 
trolled the slums of Santiago on 
Wednesday following violent dem- 
onstrations against the military 

government of President Augusta 

Pinochet. At least IS people were 
injured in the unrest and 100 ar- 
rested. 

A two-day protest was called by 
opposition panics and unions seek- 
ing the release of 12 labor leaders 
arrested in September for organiz- 
ing earlier demonstrations. 

Troops in armored personnel 
carriers, jeeps and trucks patrolled 
shantytowns and guarded key in- 
tersections, bridges and subway 
stations to deter protesters. 

Violent demonstrations broke 
out at midday Tuesday on univ ersi- 
ty campuses and in several Chilean 
cities. Police said more than 100 
demonstrators were arrested in 
Santiago alone. 


Santiago and 550 square miles 
{ 1.420 square kilometers; of central 
Chile were blacked out Tuesday- 
night when leftist guerrillas blew 
up an electrical tower in a rural 
area South of the capital the au- 
thorities said. Power remained oui 
curly Wednesday. 

In Santiago, riot police used tear 
gas and water cannons to disperse 
youths who blocked the capital's 
main thoroughfare chanting slo- 
gans against Mr. Pinochet. 


Poles Perform Transplant 

The AumiweJ Prtsr 
Warsaw — Doctors in the 
southern city of Zabrze have per- 
formed Poland's fust successful 
heart transplant on a 62-year-old 
farmer, Zbigniew Rdiga. the doc- 
tor who headed the medical team 
said Wednesday. 


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Page 4 


Hcralb 



THURSDAY, NOVEMBER 7, 1985 


INTERNATIONAL 



tribune. 


f'nWwhpd With Tbc V York Tuw* tad TV Karfcmgtoa PtW 


Craxi Returns Stronger 


Bettino Craxi. having survived a three- 
week .government crisis, is back in office and 
on his way to becoming the longest-serving 
prime minister in postwar Italy. Later this 
month he wBl beat the record of two years 
and three months in office set by the late 
Aldo Mono, a Christian Democrat. 

Beyond Mr. CraxTs personal triumph, 
and beyond the Byzantine maneuvering of 
the parties and the oratory in Parliament 
several important political facts emerge 
from the crisis that wasn't. 

Same of the policies over which Defease 
Minister Giovanni Spadolini and his Re- 
publican colleagues provoked Mr. Craxi’s 
now revoked resignation have been re- 
inforced instead of watered down. This is 
true above all of Italy's Middle East policy. 

A Mediterranean country with major eco- 
nomic. political and security interests in the 
Axab world, Italy had long been conducting 
Middle East policies chat differed sharply 
from those of America. Although Mr. Craxi 
and his Christian Democratic foreign minis- 
ter, Giulio Andreotti. carried the pro-Arab, 
pro-Palestinian tilt further than their pre- 
decessors. these policies had remained a 
matter of “pragmatism" and even expedien- 
cy, and were never elevated to the status of a 
national strategy. This, though, is what they 
became when the prime minister reiterated 
them without major change in his speech to 
the Chamber of Deputies on Monday and 
made them pan of the platform for future 
action by the five-party coalition. 

In addition. Mr. Craxi, one of Italy's most 
“pro-NATO” and “pro-American" politi- 
cians, has been able to drape himself in the 
mantle of an Italian superpatriot for stand- 


ing up to President Reagan during the con- 
frontation between American and Italian 
troops at the NATO base of Sigonella. In his 
statement in the Chamber he declared that a 
NATO base on Italian soil must never again 
be misused as he feels Sigonella was by the 
United States after the Achille Lauro hijack- 
ing- Italian politicians in power do not often 
use such terms in speaking of the alliance. 

How long will Mr. Craxi’s new strength 
last? His next task is to get the 1986 budget 
through Parliament, if possible before the 
end of the year. The aborted government 
crisis has cost him valuable time. All five 
parties in his coalition are on record as 
opposing inflation and favoring a reduction 
of the huge state deficit, but there is no real 
consensus about the lough economic mea- 
sures that are actually required. 

The Co mmunis ts, who had fought Mr. 
Craxi tooth and nail ever since he came to 
power, praised him for his stand during the 
Achille Lauro affair. But whether they will 
herd the appeal ihat he made in the Cham- 
ber on Monday for a moderate approach to 
the budget debate remains to be seen. They 
can obstruct the economic debate in the 
country even though they cannot bring the 
government down in Parliament. 

If Prime Minister Craxi has been allowed 
to stay in office with unchanged policies and 
an unchanged cabinet, it is because no party 
in the coalition was prepared for the only 
possible alternative — early national elec- 
tions. It is also because the Christian Demo- 
crats. who remain the most powerful party, 
are not yet ready to move back into the 
prime minister's office themselves. 

INTERNATIONAL HERALD TRIBUNE. 


More Substance, Please 


The Reagan -Gorbachev meeting approach- 
es and s ummi t seductions are upon us. The 
Russians let Andrei Sakharov telephone his 
family for the first time in six years and they 
offer to let his wife travel to the West. They 
have published an interview with an American 
president for the first time in 24 years. These 
manipulations obviously are meant to make 
the Soviet Union look less repressive and to 
make its policies look more reasonable. 

It is a shame that in his first chance to 
explain “star wars" directly to Soviet readers, 
President Reagan failed to get Ins own arms 
control vision straight And it is a shame that 
the Russians lacked the courtesy and courage 
to print his answers without censorship. That 
it takes a summit meeting to produce even 
these flawed attempts at communication 
shows the gulf that diplomacy must bridge. 

The most important feature of Mr. Reagan's 
Izvestia interview is that it occurred. Obvious- 
ly Moscow has felt stung by American com- 
plaints that Mr. Gorbachev takes unfair ad- 
vantage of American media without offering 
reciprocal access, that abuse of dissidents 
makes Americans skeptical of Soviet inten- 
tions and that Soviet violations of arms control 
agreements make new ones less appealing. 

With their recent gestures, the Soviet leaders 
seek either to improve the climate for the 
summit or to avert blame for its failure. This 
defensiveness is all to the good and can lead to 
huger gains if the Reagan-Gorbachev encoun- 
ter ends with an agreement to meet again next 
year. As Mr. Reagan emphasized in his inter- 
view, the relationship could also benefit from 
more significant changes of Soviet policy in 
Afghanistan, Cambodia or the Middle East 

The Russian censors worked hard to excise 
almost all of Mr. Reagan's blunter criticism of 


Soviet conduct and also the president's effort 
to demonstrate his own humanity. They would 
not let their people bear him deplore the fact 
that "both of us could threaten the other with 
the death the annihilation of millions and 
millions of each other's people." They left only 
bis colder explanations of the Strategic De- 
fense Initiative, buttressing the Soviet charge 
that he is sponsoring a new arms race in space. 

On this central point, the president com- 
pounded his administration's already great 
confusion by saying that he would deploy 
“star wars" defenses only after offensive nu- 
clear weapons are negotiated out of existence 
— to guard against some madman elsewhere. 
The White House quickly corrected him, say- 
ing that he also envisioned a “transition" peri- 
od of both defensive and offensive arms. 

The truth is that no total defense is conceiv- 
able in this century and the administration 
now aims mainly to augment the deterrence of 
offensive weapons with a missile defense. If 
both rides had such defense, they would be 
rushing to expand rather than reduce offensive 
weapons. So if reductions in offense are to be 
negotiated now. both rides will have to amend 
the anti-missile treaty, distinguishing more 
clearly between “tests" and “deployment" and 
extending the required cancellation notice 
from six months to at least five years. 

The coming summit can point toward such 
an accord and still let Mr. Reagan claim that 
research on defense will continue while Mr. 
Gorbachev claims to have forestalled deploy- 
ment. In that spirit they could seek big cuts in 
warhead stockpiles. Better questions from Iz- 
vestia would have focused on that possibility. 
Clearer answers by Mr. Reagan would have 
shown that the possibility survives. 

— THE NEW YORK TIMES. 


Other Opinion 

A Strong Mandate for AHonsm 


Sunday’s elections in Argentina were a re- 
sounding vote of confidence for President 
Raul AlfonsiiX- He can dig in on the next 
phases of his programs knowing that his effort 
to create economic and political stability still 
commands the support of most Argentines. 

Nearly complete voting returns indicate that 
Mr. Alfonsin's Radical Party won more than 
44 percent of the vote, compared to 35 percent 
for the Peronists. That would give the Radicals 
an eves larger majority in the 254-seat House 
of Deputies against the Peronists, who are 
badly divided into squabbling factions. 

In the final weeks of campaigning there was 
concern over a possible resurgence or the polit- 
ical violence that has marred recent Argentine 
history. A series of bombings and bomb 
threats disrupted life enough to prompt Mr. 


Alfonsht, as staunch a democrat as can be 
found in Latin America, to impose a state of 
siege throughout the country. The government 
believes that the bombings were part of aright- 
wing plot to provoke the military into a coup. 

States of siege are used in Latin America to 
control political dissent when it spills over into 
ami-government violence. Too often they have 
also been abused by limiting peaceful and 
legitimate criticism. To Mr. Alfonsin's credit, 
his government used the state of siege only to 
detain a dozen suspects in the bomb plots. 
Otherwise electoral activity proceeded unhin- 
dered. It should now be clou, however, that 
the state of siege was unnecessary and must be 
lifted as soon as possible. The vote count is a 
clear sign that he does not need extraordinary 
measures to protect his government. He has 
the support of the people. 

— The Los Angeles Tunes. 


FROM OUR NO V . 7 PAGES, 75 AND 50 YEARS AGO 


1910: Dog Demands Another Term 
WASHINGTON — Pete, the almost forgotten 
Roosevelt man-eating bulldog that gained no- 
toriety by chasing M. Jusserand. die French 
Ambassador, from the White House grounds, 
has turned up unexpectedly in his old haunts 
after two years of “roughing it” and made 
thing s hum. After causing a panic in the State, 
War and Navy Building and nearly taking a leg 
off several employes who tried to turn him into 
the street, he retired to the cellar of the Taft 
White House. Last reports are that Pete is 
reposing quietly somewhere about the While 
House, doriie as a lamb, having found a friend 
of other days in one of the attendants. Since 
the last administration Pete has been having a 
bard time. When he returned be found himself 
discredited and most of his old friends gone. 


1935: Hitler Gives Olympics Pledge 
BERLIN — Comte Baillet-Latour. president 
of the International Olympic Committee, said 
that Adolf Hiller assured him [on Nov. 5] that 
the Olympic Games of 1936 should be handled 
“harmoniously, in the spirit of the Olympic 
idea," and not be disturbed by any political 
consideration. Admitting that in 1933, when 
Hitler came to power, the Committee faced a 
situation which rendered doubtful the advis- 
ability to have the games in Berlin, the Count 
said that be and his friends soon convinced 
themselves of the German government's good 
will to have the competitions carried out in a 
fair spirit. “The Committee did not ignore the 
boycott movement directed against having the 
Games in Berlin," he said. “Bui this movement 
was recognized as purely political." 


INTERNATIONAL HERALD TRIBUNE 

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■ __ •• .1 




Better No Summit Dessert Than the Usual Fudge 

By George F. Will 


W ASHINGTON — Visitora to Moscow say 
a current theme there is that President 
Reagan is a manipulated cipher within his own 
government Some members of Mr. Reagan's 
government probably think so, loo. and hope to 
prove the point by stuffing their agenda into any 
communique issued jointly by the two sides at 
the conclusion of the summit. 

A communique is utterly optional and obvi- 
ously unwise There was none at the conclusion 
of lak month's G orbachev-Mi tterrand summit. 

President Franpxs Mitterrand of France suc- 
cessfully avoided having an “arms control sum- 
mit" He constantly raised issues of human 
rights, including lists of specific cases. This moral 
tone and concreteness prevented the antiseptic 
and anesthetizing arcana of arms control from 
producing numbness, that absence of feeling that 
U.S. diplomats confuse with “good feeling." 

Mr. Mitterrand knows that communiques is- 
sued jointly by democratic and totalitarian lead- 
ers must be vapid, to the rotaiitarians' advantage. 
They are tissues of muzzy formulations falsely 
suggesting harmony and moral symmetry. 

No summit is short enough- out all summits 
are short. Divide the available time (in Geneva, 
two days) in half to allow for meticulous trans- 
lations. Then subtract time for stilted niceties. 
Obviously, summits must be primarily ratifying 
occasions, unveiling work done elsewhere. Now 


imagine the dr aining and flat tening of language 
bang done today by UJS. diplomats toiling to 
reinvent detente in a concluding communique 
designed to eviscerate Reaganism. 

Diplomatic boilerplate often proves that even 
the platitudinous can be injurious. If a joint 
communique asserts, contrary to reason and his- 
tory, that tensions yield only to dialogue, it 
trivializes this century’s great division between 
freedom and its armed enemies. What is needed 
is not more dialogue but less Soviet misbehavior. 

Larry Speakes, reflecting an inanity loose in 
the adminis tration, says that Mr. Reagan's first 
job is to convince the Soviets that “we don’t plan 
to ran over them." Oh? Does Soviet aggression 
flow from insecurity, which U.S. policy has 
caused and now must assuage? 

Add to that loopy idea the State Department 
idea that “frictionless" is a synonym for “good” 
in the phrase “good U ^.-Soviet relations." Then 
add Mr. Reagan's craving for a “fresh start" in 
relations. Stir well and you will get a communi- 
que derigned ro blur edges, bleach colors and put 
both sides on the same moral footing. 

This is a red pc for diplomatic junk food, for 
mental cholesterol that clogs intellectual arteries 
with absurd notions, jointly affirmed, such as: 


Both sides value adherence to agreements. That 
is rubbish, and if Mr. Reagan returns to Wash- 
ington having endorsed rubbish, he w3J have 
negated his recent United Nations speech in 
which he denounced “numerous" Soviet viola- 
tions of “all” agreements of the 1970s. He will 
also have repealed Ms five-year record of objec- 
tions to Soviet violations of arms agreements and 
the Helsinki accords concerning tnwmm rights. 

Speaking of human rights, the Soviets may 
soon perfume the Geneva atmosphere by settling 
a trivial number of human rights cases. So imag- 
ine a joint communique pledging both sides, as 
moral equals, to wore to resolve human rights 
problems without “interfering" in the “internal 
affairs" of one another. That would mean that 
the Helsinki accords on human rights do not 
apply to the internal affairs of any country. They 
protect human rights in ... Antarctica? 

Were Mr. Reagan to leave Geneva < 
in a doud of such verbiage, he would t 
those who tar 2D years have taken his quite 
different words seriously. And he would be dis- 
dained by those’ who would have su c ce s sful ly 
manipulated him. Such Geneva words would 
retroactively discount Ms public life, and would 
confirm Moscow's current theme. Joint commu- 
niques generate myths of moral equivalence. In 
Geneva, Reaganism requires reticence. 

Washington Post Writers Group. 


The 'Special Relationship 9 Endures as Social Farce 

By Joseph Kraft 


W ASHINGTON — What began 
as tragedy now carries on as 
farce. The fuss bring made over tile 
coming visit of the royal couple 
shows the enormous store that Amer- 
icons still set by the British connec- 
tion. But overrating Britain has done 
terrible damage to both countries. 

The myth of British importance 
persists because of the pecuhar social 
condition which locates the Ameri- 
can aristocracy in the sceptered isle. 

The tragedy is what happened to 
Britain afterWorld War IL The Unit- 
ed States and Britain fought the war 
as almost equal partners m a global 
enterprise. The extraordinary hero- 
ism of the British people, the leader- 
ship of Churchill and the acumen of 
such experts as Maynard Keynes 
bred the assumption that Britain 
could continue to bear the burden of 
great power responsibility. 

That assumption has proved disas- 
trously wrong all around the world. 
Defaults by Britain, in fact, account 
for much of the foreign policy trouble 
experienced by the United States in 
the postwar period. 

American power has long since 
supplanted the British flea as the 


sMeld of independence in Latin 
America: there is no surrogate when 
tilings go wrong in Nicaragua. UJ5, 
forces sustain democracy in Western 
Europe. When the Russians tilt the 
missile balance, it is the United Suites 
that has to put in more missiles. 

The United States has had to pick 
up the British baton in North Asia, 
the South Pacific, the Indian subcon- 


Britain sdk its prestige 
to the highest bidders. 

tinent, the Gulf region, the Middle 
East and the eastern Mediterranean. 
America is in the process of replacing 
Britain in southern Africa. Perhaps in 
the western Mediterranean, too. 

The illusion of a “special relation- 
ship" with America has not been 
good for Britain, either. Focus on the 
Atlantic connection caused Britain to 
miss out when the European Com- 
munity was launched in the 1950s. 
General de Gaulle’s famous veto in 
1962 followed an Anglo-American 


move to prolong nudear partnership. 
Although Britain finally entered Eu- 
rope. Mrs. Thatcher has resisted like 
fuiy French, German and Italian ef- 
forts to consolidate the Community. 

A social need offsets the dismal 
record of imagined partnership in po- 
litical, military and economic affairs. 
America is a tntiy <^)en society. Ten- 
sion between economic success and 
social prestige has always existed, 
and European nobility has often been 
called in to redress the balance. 

Before World War H, great wealth 
was accumulated by tycoons associ- 
ated with heavy industry that devel- 
oped over a lifetime — railroads, 
steel, auio^ oil, chemicals. Populist 
envy made it hard to establish dynas- 
ties, so the marriage of American 
heiresses to dukes, counts and lesser 
nobles from Britain and elsewhere in 
Europe became a familiar event 

In more recent years the pace has 
quickened. Fortunes were built over- 
night, especially in financial services, 
real estate and associated businesses 
such as retailing and oil leasing. 

But for most of the postwar era 


A Landslide but Not a Policy Mandate 

By David S. Broder 


W ASHINGTON — A year ago, 
when Ronald Reagan won 
his 49-state landslide re-election, 
the road looked open for quick real- 
ization of the conservative policy 
revolution launched in bis first 
term. Today the initiative in most 
fields r emains in his hands and Lhe 
political opposition is both scat- 
tered and ineffective, yet be is cot 
measurably closer to achieving any 
of Ms major objectives. 

Tax reform is stalemated; the 
budget deficit grows obdurately un- 
checked; the military buildup has 
been slowed; Mr. Reagan has been 
forced to give ground on issues 
from trade to South African sanc- 
tions; the fate of his possibly con- 
flicting ambitions for both an arms 
control agreement and the develop- 
ment of a high-tech strategic de- 
fense Lies in the hands of a crafty 
and enigmatic Soviet antagonist. 

What has happened to deny, or 
at least severely delay, Mr. Rea- 
gan’s enjoyment of the frails of his 
victory? A year’s experience deep- 
ens my conviction that the “smart 
tactic** he adopted in 1984 has 
turned out to be very bad strategy. 

That lactic was to run for re- 
election on the record of the first 
term and to avoid using the cam- 
paign to set forth the agenda for the 
second. It was a smart tactic in that 
it denied the Democrats the chance 
to debate the choices and forced 
them to find fault with a status quo 
that was plainly comfortable for 
most voters. It worked so well that 
Mr. Reagan carried everything but 
the District of Columbia aria his 
rival's home state of Minnesota. 

The keynote of that campaign — 
virtually its only memorable line — 
was President Reagan's ofi -repeat- 
ed promise, “You ain’t seen nothin* 
yet." It had a double meaning. It 
suggested that there were wonder- 
ful things in the offing if he were 



returned to power. But it also clear- 
ly conveyed the message that tie 
voters would not find out about 
those plans until Mr. Reagan was 
safely back in the White House. 

It was smart politics, but a rotten 
formula for government. The ab- 
sence of content in the 1984 cam- 
paign stripped Ms victory of any 
element of policy mandate and set 
the stage for the backing and filling 
— the genuine confusion — in the 
first year of the second term. 

Mr. Reagan, of all people; should 
have recognized the 
had profited 
cal career 

S asite of what he did in 1984. He 
always been a politician of con- 
viction , who campaigned on the is- 
sues and used his speeches to create 
Ms own agenda. When be broke 
that habit m 1984, he abandoned 
his own formula for success and set 
the stage for this year’s program- 
matic disappointments. 

If that seems exaggerated, con- 
trast thv situation this fall with that 
four years ago, as the first congres- 
sional session of Mr. Reagan's first 
term came to a dose. 

That session saw the enactment 
of the baric building blocks of Mr. 
Reagan's policy revolution; an 
aoross- the- board tax cut for indi- 
viduals and corporations, made 
permanent by indexing; a drastic 
slowing of the growth of domestic 
government programs; a big trans- 
fer of resounds from the domestic 
budget to military defense. 

Ail those measures were written 
into law in die first eight months of 
Mr. Reagan's tenure because they 
were the programs on which be had 
campaigned, and on which three 
dozen additional Republican sena- 
tors and representatives had been 


elected. No one could doubt that 
there had been a mandate. 

In 1984, by contrast, Mr. Reagan 
said almost nothing about the sec- 
ond-term agenda. Not coinciden- 
tally, he was far less effective in 

Republicans win office. And so it 
should have been no snip rise that 
this Congress; Republicans and 
Democrats alike, has been far less 
responsive to his Initiatives and al- 
most heedless of his commands. 

Mr. Reagan has been able to 
make two of his negative com- 
mandments stick. The campaign 

S 'ses that he would not touch 
Security or raise taxes are 
miacL They were specific — if fool- 
hardy — and Congress has been 
forced to respect than. 

But what did he promise to do 
positively? Not much. He said be 
would reform taxes, but that prom- 
ise was so vagne that the spednes of 

the plan the administration finally 
managed to produce, months after 
the election, carried no presump- 
tion i “ _ 

and did chal- 


Reagan’s agents to pro- 
duce one campaign speech in which 
he ever suggested that he would tax 
employee rnnge benefits or end the 
deduction for state and local taxes. 
Similarly with the budget, defense 
and issues of foreign policy from 
South Africa to the Soviet summit. 

Opponents may gloat over Mr. 
Reagan's frustration, but I think it 
is costly to public confidence in the 
political process. Sections should 
set the nation's direction, and when 
a decisive election is followed by 
indecisive government, something 
basic has gone wrong. In this case it 
was the conception of the winner’s 
campai g n that was at fanlL It suc- 
ceeded so well in concealing Mr. 
Reagan's purposes that it failed. 

The. Washing/M Pest. 


new wealth translated into prestige 
with very great difficulty. A liberal 
doctrine of responsibility W* in 
vogue. Elite institutions kepi opening 
ranks to new entrants. The brat um- 
vetrities and boarding schools main- 
tained what amounted to quotas in 
favor of minorities. Even Camdot, 
the fairy-tale kingdom created post- 
humously for the Kennedy adminis- 
tration, affected a social purpose: 

The Reagan administration has re- 
versed these priorities. Acceptance of 
authority is its social goal For affir- 
mative action on behalf of minorities 
it has substituted the right of all to get 
rich. It has encouraged the flashing of 
money in diamonds, .furs and stretch 
timos. And it promotes the nibbing 
of shoulders with the Prince aid 
Princess of Wales at social galas. 

The principal beneficiaries of these 
events are the new rich who have not 
established social prestige. They walk 
with kings and shake off the comxnaa 
touch. They dance with dukes and 
duchesses. They are rolled together 
with the best American fandties. And 
they do not even have to team a 
foreign tongue or bridge a cultural 
gap. It is enough to pay the piper. 

No great harm can come of this, 
but small wrongs are perpetuated. 
The bogus “special relationship" 
goes on. Britain combines tobecome 
less and less weighty in the world. It 
does nothing to reoew its work ethic 
or compose class differences. It sells 
its prestige lo the highest bidders. 

America keeps packing up commit- 
ments dropped by Britain on a piece 
by piece baas, but without organiz- 
ing a coherent strategy that com- 
mands enduring support at home. It 
fails to develop a responsible estab- 
lishment that combines wealth with a 
taste for governing. On the contrary, 
having faded to fuse wealth and re- 
sponsibility in their own country, 
Americans borrow prestige from an 
aristocracy they can boy. 

So the “special relationship” con- 
sists of living off the aristocracy of 
Britain. In that sense the Anglo- 
American tragedy has become a 
farce. Nobody should be altogether 
happy that the farce goes on. 

Las Angeles Times SymEaae. 


Tell Marcos 
Bases Are 

Expendable 

By George McT- Kal»n 

T THACA. New Y°A — 

1 concerned about the VM*,, 

Washington's ^f sW ‘r. 

crease investment mtbeU.S.^ 

bass 31 CtoV FkM 

That derision — w spend 5 - 

lion to upgrade the bases ami rtu, . 

them umilMteast I** 91 Z~ 

Seed last month, just <££***££ 

Senator Paul Laxali 

tiiia u> urge ref onus on the Man- ■ 

government. It thus raeviubl> under- 

fSseaaror 

surely discourages the noo-Cotnmu 
St ipporitio^thar plans w chal- 
len« Mr. Marcos at the polb. 

^Whatever Washington can do u 
encourage change in the 
—and that capacity is severed unut 
ed — it is certainly futile to attempt 
to do so with one hand while dogged- 
ly holding on to the bases with the 
other. Thus, congressional tinkering 
with the relative size of the mflitiiry 
»mH economic components <rf the 
rental America pays can have only a 
fiffl rtrimtl pofiocal effect- 

Thevaflie and durability of the 
American facilities are diminishing 
even as the Pentagon prepares tf„- 
pour more money into them. 

First, the bases and the nuclear 
weapons understood to be stored at 
fh fpn are now within the range °» 
Si berian -based SS-20 missiles. 

the overall center of gravi- 
ty of U5. naval and air missions has 
lifted westward from the South Chi- 
na Sea toward the Indian Ocean and 
the Middle East. A 7th Fleet carrier 
face has been moved to permanent 
station m the Indian Ocean, where 
major fawlMw actable of handling 
B-52s have just been completed rat 
the of Diegp Garda. 

Thud, the Pentagon's assertion 
that PMfippme bases are vital be- 
cause of Soviet access to Danang and 
Qtn Ranh Bay, in Vietnam, rings 
hollow. For Mr. Marcos has pledged 
Hanoi that he win not permit the 
United States to use Clark or Subic to 
among m attack on Indochina. 

The value of die bases is also being 
seriously undercut by the continuing 
erosion of the political ground on 
which- they stand. Both Mr. Marcos 
and ins opponents — Communist 
and non- Com muni st — exploit iti^* 
prcriKaabte currents of PMlippiiie na- 
tionalism. Of mast immediate danger 
is the Comm u nist-fed New People’s 
Army, which. Defense Minister Juan 
Ponce Emile told me, now musters 
some IBjOQO armed men, half of them 
with modem American weapons. 

ILS. commanders emphasized to 
me that their major worry is security 
. on the perimeter cf the baa*. -The 
New People's Array lades the power 
to overrun the fatihtfes, but it has fte 
capacity to harass them extensively 
and to render Aran largely inopera- 
tive. Only two months ago a guerrilla 
trait walked right through the Phflip- 
□inetBK&tat/s outer perimeter at Si*- 

W Bay and campeddose to the bor- 
der of the US. raeffity, within raonar 
range of an a mm u n ition magazine. 
Only 600 figpiiio- troops are avail- 
able to patrol Stine's outer perime- 
ter, winch is more than 20 miles 
(xDorethaad2kxhmKtas) long. g* 

In such a situation, guerrilla lead-' 
ess coB&easily betempted to exploit 
nationalist feelings through a con- 
frontation with American troops. 

Nor is it implausible that an Amer- 
ican base commander mig ht react iro- 
polsavefy to a perceived guerrilla 
threat The bases agreement grants 
these commanders the unqualified 
right to cany out security measures 
outside the bases, with no stipulation 
about the circumstances or how far 
American forces can be sent. Given 
the record, what should one expect 
Preskteat Reagan's reaction to be if 
dwts were fired m American service 

menTSo there is a real possibility tha; 
the United States could be drawn 
into a quagmire in the Philippines. 

Clark and Subic dearly rest os. 
uncertain pofitfcal’ sand, and littl/ 
time is left for the Pentagon to imple- 
ment contingency plans for movin g 
&Du decentralizing thft mOitaiy assets 
now dangerously concentrated there. 

Ampte alternatives exist — among 
them Guam, Tinian, Saipan. Palau. 
Fra the time being, at least, much 
greater use could he made of bases 
now available in Australia and Singa- 
pore. The PentagMi should begin Sis 

staff now, using the funds it has so 
■ntipnidently allocated for further in- 
vestment m Clark and Snfc r 

The writer, professor of internal ion - 
dntoamtaComell Omversity, visit - 
ed the Philippines in SeDtemh~ 


edthe 

study the K j . bases, 
this comment. to TheNt 


UTTERS TO THEH 

A Meeting of Opposites 

President Reagan's propo sa l that 
the superpowers share research in 



ideological 
summit Ml Reagan will be meeting 
the leader of a system lhai represents 
a backward step in the moral pro- 
gress of mankind. In their “Jam Ap- 
peal to Reagan and Gorbachev" (Oct. 
Jj), Olaf Palme, Rajiv Gandhi et al 
use moral arguments unlikely to have 
modi authority with Mr. Gorbachev 
and his establishment UntO Moscow 
subscribes to internationally accept- . 
ed rates of dvilized conduct, it would 
be naive to pin high hopes cm A meet- 
ing betwe en two leaders who. moral- 
ly, have so little in common. 

EGILS ZELE. 

Singapore. 

In his excellent opinion column 
-“The United States Needs Open. De- 
bate on D6te me" (Oct 24), Stephen 
F. Cohen notes that it i? a question of 


the! 
power," to i 
to destroy 
1 that t 


kan 
ns 

: Soviet Ui 


stated that , 
Soviet Uniof 
one, designed 
cal and miliu 
tenud reform 

a**-— 


The mo® 

Geneva is tl 


— "WlWiUA “ -“Ml he 

Opeo-Ete- u precisely 
), Stephen 





T 


INTERNATIONA L HERALD TRIBUNE, THURSDAY, NOVEMBER 7, 1985 


U.S. Tempers Its Hopes 
For Accords in Geneva 


Reuter* 

REYKJAVIK — After intensive 
talks in Moscow. U.S. officials ac- 
knowledged Wednesday. that only 
minor agreements at Best can be 
expected from the summit meeting 
between President Ronald Reagan 
and Mikhail S. Gorbachev. 

But the officials appeared out- 
wardly calm when faced with the 
prospect that tlx public might as- 
sess the summit meeting, now less 
than two weeks away, as a failure. 

A senior official who accompa- 
nied Secretary of State George P. 
Shultz to Moscow for two days of 
talks said that it would be a “false 
standard" to judge the summit 
meeting cm what was signed there. 
The Soviet leadership, he argued, is 
undergoing historic changes and 
has been focusing on internal af- 
fairs. 

“It now seems that they are 
ready to turn to foreign accounts — 
but ready in the sense of beginning, 
and not "concluding." said the offi- 
cial. who declined to be identified. 


CIA Shamed 
By Defector 

(Continued from Page 1) 

. tendon that the CIA kidnapped, 
drugged and tortured him is dis- 
missed as absurd by U.S. officials, 
it will complicate Mr. Reagan's ef- 
fort to raise human rights issues at 
his summit meeting with Mikhail S. 
Gorbachev, the Soviet leader, in 
less than two weeks. 

“The damage which may have 
been intended, if there was "any. is 
in giving them a kind of talking 
point lo'irv to embarrass the Unit- 
ed States "in a particularly impor- 
tant lime," Mr. Weinberger said. 

And the CIA's apparent bun- 
gling of the case exposed some of 
the agency's most secret operations 
and methods — and its managers' 
competence — to unwelcome pub- 
lic scrutiny. 

“You're assured that the CIA 
knows what they're doing.*' said 
Senator Patrick Leahy, the Ver- 
mont Democrat who serves as vice 
’ chairman of the intelligence com- 
mittee. “That's an assumption 
that's now being questioned." 

“Other than walking away with 
V> our credibility and our national 
honor. I don't see him walking 
away with a great deal" he said of 
Mr, Yurchenko. 

Mr. Leahy and Senator David F. 
Durenberger, the Minnesota Re- 
publican who beads the committee, 
said they planned a full investiga- 
tion of the CIA's handling the Yur- 
chenko case. 


as Mr. Shultz's party stopped in 
Reykjavik on its way home. 

One aide said that both sides at 
the Moscow meeting had drafts of 
communiques that could be re- 
leased at the summit meeting, but 
that the statements differed dra- 
matically in content. 

“They had a communique, we 
had a communique and it was dear 
there was nothing in between," the 
aide said. 

In Moscow. Viktor M. Ctaebri- 
kov. chief of the KGB intelligence 
agency and a member of the Polit- 
buro. said that the Soviet leader- 
ship was doing its utmost to ensure 
that the summit meeting would 
bring tangible results. 

“We believe that if political 
courage is shown and the rides 
move to meet each other halfway, 
there is suH much that can be recti- 
fied.” Mr. Chebrikov said. “Id any 
case, the Soviet ride will work in 
Geneva for a constructive solution 
to theTjurning problems of the pre- 
sent.” 

The senior U.S. offirial said the 
central message of Mr. Shultz's trip 
to Moscow* was that Soviet leaders 
had not absorbed the technical and 
conceptual aspects of arms control, 
deterrence and the Strategic De- 
fense Initiative, the U.S. program 
to develop a space-based defease 
against nuclear missiles. 

“That's understandable.'' he 
said. “They have been preoccupied 
with other things. But it also means 
that probably the pace of progress 
has been set back somewhat from 
what some in the West predicted." 

Mr. Shultz, at a news conference 
Tuesday as he wound up his trip, 
said that Mr. Gorbachev seemed to 
have misperceptions of the United 
States. 

The senior official who accom- 
panied Mr. Shultz said that Mr. 
Gorbachev seemed concerned that 
U-S. policy was influenced by a 
small circle of extremists who were 
ideologically anti-Soviet. 

He said that the Soviet leader 
received explanations of the ratio- 
nale behind the Strategic Defense 
Initiative, but that the arguments 
appeared to be new to him. 

The official said that Mr. Gorba- 
chev appeared to rqect the entire 
research plan, including the con- 
cept of fundamental research. 

The Kremlin has sought to make 
arms control the central theme of 
the summit meeting, calling for an 
agreement in principle. 


Spain Names Moran to UN 

Return 

MADRID — Fernando Moran, 
dismissed in July as foreign minis- 
ter, was appointed Wednesday as 
Spain’s chief representative to the 
United Nations, officials said. 


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At U.K. Parliament Opening, 0*"*® 

Cites Plans to Create Jobs, Cnt Taxes 


Reuters with which it went to war in 1982 

LONDON — Queen Elizabeth over the Falkland Islands. 

II opened a new session of Parlia- She said the 
merit on Wednesday by announce work for peaceful and fundamental 
ing the government's intention to change ™ South Afnca win um- 
tighien up on law »nH order, tackle Bin's parprers in the European 
unemployment and cut taxes. Community and the Common- 


huroddewa 
order offenses 

by conmw® ij “* * v ever 
fed law that doc.cpeu 

ihe centuries- . v,. efder 

Under a P to IU 

bill rioters. *oo!d t **' * 


unemployment and cut taxes. Community and the Common- prison, with scares'* 8 * ** 

In a speech prepared by Prime nH. _ £%%,£££ and three 

Minister Margaret Thatcher, the On law and undo 1 . jriajed offenses of violent dis- 

queen outlined a legislative pro- said. “Measures will be mm *j* u -** (wmime. . , 

gram that indicated the govern- to strengthen the powers of the or “?__ be a new offense ** 
meni planned to slide to its eco- police in combating disorder. TTrnrr . rr «v conduct that the police 

nonric strategy based on private This followed a senes ©firmer- tocoonol hociijiAJUS'n. 

enterprise. -city note m vanous parts of Bril- “i'll,. proposes U1 

The queen said that, wlule keep- ^over the last two m®tte.<^n- 
ing a tight rein on inflari on, the km polls have in dicate d that civil ugh te a There would 

government would do all in its unrest is winning bade voters for to . possessing ra- 

power to encourage the growth of &e Conservatives. who aretratfi- ^.^°^^ TmalrTrv £icnal with J 
new jobs in Britain. tumally Gnn on law and order. ^ y ,J?SS!£n «■ disinbuimn. 

UnemokmnenL mnninz at re- Government sources said the view to publication «x 


Hans-Dietricb Gensdier, the West German foreign minister, seated at cotter, opened 
Wednesday's discussions on technological cooperation under the Emeka initiative. 

18 Nations Back Eureka Projects 


(Continued from Page I) 
a process by which research pro- 
jects would be defined, developed 
and approved by the conference of 
ministers. Some delegates said that 
the agreement was the single most 
important achievement of the 

meeting. 

Under the process, companies 
and research institutes in any of the 
18 countries — the 10 current EC 
members' and Austria. Finland, 
Norway. Portugal Sweden, Swit- 
zerland, Spain and Turkey — can 
submit projects that involve the 
participation of at least one other 
Eureka nation. 

Such projects then could qualify 
for government subsidies, tax ad- 
vantages and possibly favored 
treatment in bidding on West Eu- 
ropean government contracts. 

Participants in Eureka, the con- 
ference also decided Wednesday, 
must operate in sectors that include 
information and telecommunica- 


tion. robotics, new materials, man- 
ufacturing. biotechnology, marine 
technology, lasers, environmental 
protection and transport technol- 
ogies. 

Ministers did not exclude partic- 
ipation by non-European compa- 
nies, including U.S. multinationals 
operating is Europe. 

“Europe now has a sharper fo- 
cus, a framework for” cooperation 
under Eureka," said Geoffrey Pal- 
tie, the .British minister for industry 
and information technology. 

The 10 projects adopted 
Wednesday were classified as Cate- 
gory I. meaning that companies in 
two or more Eureka countries have 
reached agreement to cooperate 
and that the proposals have been 
approved by the governments of 
the participating companies. 

About 20 projects are in Catego- 
ry 1L meaning that the companies 
either were still negotiating or seek- 
ing formal endorsement by their 
governments. A third category in- 


SDI May Be Deployed 
Unilaterally, Reagan Says 


(Continued from Page 1) 
the four Soviet journalists that im- 
plied a sweeping change in the ad- 
ministration's approach to deploy- 
ment of SDI was dismissed 
Tuesday by the White House 
spokesman. Larry Speakes. as 
“presidential imprecision." 

Mr. Reagan had said that de- 
ployment of SDI would occur only 
after both countries “do away with 
our nuclear missiles, our offensive 
missiles.” 

“We would not deploy” the SDI 
system, be said in the interview that 
was published Monday in the Sovi- 
et Union, “until we sit down with 
the other nations of the world, and 
those that have nuclear arsenals, 
and see if we cannot come to an 
j agreement on which there will be 
| deployment only if there is elimina- 
| tion of the nuclear weapons." 

Mr. Speakes said that the presi- 
dent had meant to use the word 
“sharing” instead of “deploy- 
ment” 

Mr. Speakes also said that “the 
media bad seized on” the remarks 
unfairly to suggest that Mr. Reagan 
had made new policy. 

The difference in wbal Mr. Rea- 
gan said and what he meant to say 
is significant because he has de- 
scribed SDI as a defense system 
that would make offensive nuclear 
missiles obsolete. 

In his remarks during the inter- 
view. twice repeated in slight varia- 
tions, Mr. Reagan suggested that 
he was making the elimination of 
the offensive weapons a condition 
for deploying defensive weapons. 

Those remarks were extensively 
reported and caused consternation 
among administration officials 
aware that the president in ad- 
vance of his Nov. 19-20 summit 
meeting in Geneva with Mr. Gor- 
bachev, appeared to be signaling a 
new negotiating position on missile 
defense. 

Mr. Reagan repeatedly has dis- 
avowed suggestions that be wants 
to use SDI as a “bargaining chip'' 
with the Russians. They want the 
U.S. program limited to research. 

Wuh this in mind. Mr. Speakes, 
soon after the interview, talked 
about what he called the “misun- 
derstanding" to the White House 


chief of staff. Donald T. Regan, 
who then discussed the issue with 
the president 

But according to an administra- 
tion official who asked not to be 
identified, it was “difficult to cor- 
rect the record” because no one 
wanted to say “that the president 
had misspoke." 

Instead of directly correcting 
Mr. Reagan, senior White House 
officials tried to make an indirect 
correction by issuing a series of 
“talking points” that said he was 
using “presidential shorthand" 
when he made his remarks. 

“The president was misunder- 
stood. and he probably contributed 
to this misunderstanding fcfy talking 
dramatically to make a point,” an 
official said. 

Late Tuesday, Mr. Speakes went 
beyond the prepared talking points 
to explain the administration's ver- 
sion of the “misunderstanding." 

He said it arose in pan because 
Mr. Reagan wanted to avoid ad- 
dressing the question of what the 
United States would do if missile 
defense technology was proffered 
to Moscow and refused 

Asked what the United States 
would do, Mr. Speakes replied: 
“Who knows? That's at least two 
presidents down the road.” 

Even proponents of SDI ac- 
knowledge that its probable ac- 
complishments have been often 
overstated by Mr. Reagan. For ex- 
ample, be has described the system 
as one that would shield civilians 
against nuclear missiles without ac- 
knowledging that, by itself, it is 
unlikely to protect against low-fly- 
ing cruise missiles and bombers. 

Most recently, Mr. Reagan has 
been saying that the system would 
need to remain in place after nucle- 
ar missiles are eliminated as protec- 
tion against a “madman" launch- 
ing a nuclear missile. But SDI does 
not include a defense against 
ground-based terrorism. 

White House officials have in the 
past explained Mr. Reagan's ten- 
dency to overstate as part of his 
effort to convince the American 
people of his “vision” of SDI. They 
also have said it may be part of a 
larger negotiating tactic But previ- 
ously. the White House has not 
corrected his statements. 


The Selling of Star Wars: 
A Childishly Simple Task 


|jy- 




(Coa turned from Page 1) 
huddled together under a sweeping 
arc. 

The arc. wan and gray in the first 
doodle, was a cheery rainbow is the 
second. It depicted. Mr. Rings in- 
formed the assembled High Fron- 
tiersmen. the “Peace Shield." 

“I thought, 'Oh, for God's sake! 
This will never work,’” recalled 
Daniel O. Graham, the retired lieu- 
tenant general who is High Fron- 
tier's commander-in-chief. “I really 
thought this is too, uh, childish.” * 

Mr. Ringe's “peace shield” com- 
mercial. crayoned doodles galore, 
is now the talk of TV advertising — 
admired for its artistry by political 
professionals and reidled for its 
message by foes of “star wars.” 

Costing 550,000 to make, it has 
become the centerpiece of High 
Frontier's projected $1.7-miJlion 
campaig n to sell the Strategic De- 


fense Initiative to the American 
public. 

The commercial employs a child- 
like animation of stick people, a 
dog. a house and the sun — re- 
markably faithful to the original 
scribbles — and the voice of a 7- 
year-old girl heard over the playful 
tones of a toy piano. 

“I asked my daddy what this 
'star wars' stuff is all about,” she 
says. A domelike arc is drawn over 
the scene. “He said that right now 
we can't protect ourselves from nu- 
clear weapons, and that's why the 
president wants zo build a peace 
shield.” Slide people and sun frown 
as fat red missiles bounce against 
the arc. The missiles pop like bub- 
bles and v anis h. 

“It would stop missiles in outer 
space so they couldn't hit our 
house,” she says. “Then nobody 
could win a war.” The missiles stop 
coming. 


dudes several hundred projects in 
which there are only “expressions 
oF interest” 

Among the largest in Category II 
is a 700- mill on-franc (S8S- million) 
project to develop wide-band 
switching technology in telecom- 
munications involving Plessey Co. 
of Britain. CIT-AIcatel of France 
and Italtel SPA of Italy. 

Another is a feasibility study 
into the development of a powerful 
new computer. Participating com- 
panies now indude the Bull group 


of which are state-owned, and Sie- 
mens AG and Krupp of West Ger- 
many. The initial research cost for 
1986 has bom estimated at 12 mil- 
lion francs. 

The 10 pilot projects approved 
Wednesday were: 

The production of a standard 
microcomputer for education and 
domestic use; production of a new 
type of computer chip made of 
amorphous, or uncrystallized sili- 
con; development of a high-speed 
computer; development of a laser 
for cutting cloth in the apparel in- 
dustry, and development of mem- 
branes for water filtration that 
could be used to desalinate sea wa- 
ter. 

Also, the development of high- 
power laser systems; development 
of a system to trace air pollutants; 
development of a European re- 
search computer network; develop- 
ment of a diagnosis kit for sexually 
transmitted diseases, and develop- 
ment of advanced optic electronics. 


power to encourage the growth of 
new jobs in Britain. 

Unemployment, running at re- 
cord levels of about 325 million 
people over the last year, ranks in 
opinion polls as the issue that most 
concerns British voters. 

listing the government's pro- 
gram for industrial denationaliza- 
tion in the coming year, the queen 
announced the sale of British Gas 
Corp., which analysis have said 
would raise £3 billion (about S4 3 
trillion). 

She also referred (o plans to sell 
off the state-run British airports to 
private industry, bring commercial 
managers into the naval dockyards 
and allow the Atomic Energy Au- 
thority to run on more commercial 

linr-c. 

Speaking from the throne of the 
House of Lords to members of both 
houses of Pariiament, the queen 
said the government aimed to con- 
trol public expenditure in order to 
reduce income tax. 

Mrs. Thatcher plans to use funds 
from sales of state-run industries to 
provide cash for tax cuts in time for 
the next general election, which 
must be held by spring 1988. 

(hi foreign affairs, the queen 
said that Britain would seek more 
normal relations with Argentina, 


Hie Times of London 
Names a New Editor 

Reuters 

LONDON — Charles Wilson, 
deputy editor of The Times, has 
been named editor, the newspa- ; 
per's directors announced Tuesday. | 
He succeeds Charles Douglas- 
Home, who died of cancer last 
week. 

Mr. Wilson, 50, joined The 
Tunes. Britain’s oldest daily paper, 
in 1982. He recently was chosen by 
The Times's owner, the Australian 
publishing magnate Rupert Mur- 
doch, to coordinate the launching 
of a new London evening newspa- 
per next spring. 


new measures would include the sources xn a- 



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SCIENCE 


Building Lessons Emerge From Mexico City Quake 


By William Stockton 

>Vi*v York T:mn Service 


M EXICO cm - — The eanh- 

auake that killed an estimat- 


quake that killed an estimat- 
ed 7,000 people here in September 
has yielded important lessons in 
building design and city planning. 


problems. Other factors included a 
lack of sufficient reinforcement in 
concrete support pillars, and build- 
ings placed too close to each other. 

The most sinking finding about 
the Mexican quake is that buildings 
of medium height, from 5 to 20 


Although earthquakes register- stories, were subjected to sideways 
ing S or more on the Richter scale acceleration nearly six times great- 


Most buildings are designed to 
withstand accelerations between 
02 and 0.24 G's. 

The geology of the Valley of 
Mexico, the nature of the earth* 
quake and Mexico's emergence as a 
major population center produced 
the Sept. 19 disaster. 


to the west of the city, in the Pacific 
Ocean, a slab of the earth’s crust 
called the Cocos Plate thrusts un- 
der the land mass of Mexico. The 
plate moves an average of three 
inches (7.6 centimeters) a year, but 
it has often become stuck. Seismol- 
ogists suspect that a segment of the 


leased more energy. The- largest 
came IS hours after the first tremor 
and registered 73. 

Normally, an earthquake sends 
out waves of widely varying fre- 


&MVW 

Coeantnc M 

BWHC 

Bwlftnfl* Si 

Frost 

(UsOsnil f 

HU Hup 

Lr2 

u 


quencies. Some waves come every 
few hundredths of a second, others 
at intervals of one-tenth of a sec- 


have struck a few other major met- er than any ever experienced in 
ropolitan centers in this century. Mexico. These approached the ac- 

fKa k rt-Mr ■(!.« ■■olita rtf rt r n*i tv 


the Mexico Gty disaster was die celeration value of gravity. 32 fee: 
first to test the building technology per second, or one G in scientific 


X HE city, which sits on a 7300- 
foot (2,220-meier) plateau, is 


plate between the Mexican states of and. still others at longer intervals. 
Michoacan and Guerrero, where Instruments near the earthquake’s 


ringed by mountains of volcanic 
origin. Rain r unning off the slopes 
deposited layer after layer of grav- 


widely used in major cities. shorthand. origin. Rain running off the slopes 

Among the conclusions drawn The cost of designing buildings deposited layer after layer of grav- 
from the disaster, which destroyed to withstand earthquakes increases el sand and clay in the basin upon 
more than 400 buildings and dam- exponentially with the rise in mag- which the city was built. When 
aged hundreds more, are that archi- niiude of the potential earthquake. Cortex conquered the Aztecs, the 
tects, engineers and city planners William C. Stone, a structural engi- basin was partly filled by a lake, 
must restudy geological formations neer at the National Bureau of which the Spaniards drained to cre- 
beneath some cities that might Standards in Gaithersburg. Mary- ate more land for budding. 


the Balsas River meets the Pacific 
Ocean, had not moved Pot perhaps 
a century. 

The movement of the earth’s 


crust built up pressure on the im- 
mobile plate. Tbe rupture began at 


must restudy geological formations 
beneath some cities that mizht 


greatly increase the destructive land, told the American Society of 


force of an earthquake. 

Engineers found that asymmetri- 
cal buiJdinas. such as those built in 


Civil Engineers in Detroit last 
month. A building designed to 
withstand an earthquake of 7.0 on 


triangular or T shapes, are more the Richter scale, which is 10 times 
likely to collapse in an earthquake, more powerful than an earthquake 


They’ also found that open space on of 6.0 on the scale, would cost 10 
lower floors, with denser condi- times more than one designed to 


lions on the floors above, caused withstand an earthquake of 6.0. 


which the Spaniards drained to cre- 
ate more land for budding. 

Mexico Gty became an urban 
center of IS million people. Much 
of it is built on the high ground 
surrounding the old lake bed. but 
pans of the city center were built 
on layers of sediment with high 
water content, more than one and a 
half miles above bedrock. 

About 300 miles (460 kilometers) 


mobile plate. Ihe rupture began at between, wnai rem 
7: 17 A.M. Sept. 19. The focal point train of seismic wave 
was about 30 miles from the Balsas tensity, arriving every 
River. A second rupture occurred Ordinarily the stra 
26 -seconds later, about 60 mdes waves from an earth? 
south. Seismologists at the Autono- seconds at most Bui 
raous National University of Mesri- Mexico Gty earthqi 
co gave the two ruptures a com- waves lasted for neat 


epicenter recorded similar waves. 
But when the waves reached Mexi- 
co Gty two minutes later, the high 
frequency waves had been filtered 
out by the 300 miles of terrain in 
between. What remained was a 
train of seismic waves of great in- 
tensity, arriving every two seconds. 

Ordinarily the strongest seismic 
waves from an earthquake last IS 
seconds at most But the intense 
Mexico Gty earthquake seismic 
waves lasted for nearly a minute. 


bined value of 8.1 on the Richter The strongest waves arrived in the 
scale, malting it one of the most middle and lasted nearly 30 sec- 


powerful earthquakes in history. 
The Cocos Plate lurched between 3 
and 6 feet. 


onds. 

There was little damage in the 
hills around the old lake bed, where 




I IPiaw i iW im 

rmliil tf y~rg ~ 1 —*- 


t*iwafrs»»snr*i 
OWf’ C(* CJv'S- 
i-CS ■£> c&Uoee 


Dozens of smaller ruptures oc~ residents fdt the earthquake as a 
curred afterwards as the plate re- slow and rhythmic shaking rather 


Why So Many 
BufkfingsF’eB 


AMtMChjRIWoC- 


INTERNATIONAL POSITIONS 


— Morlrfi Oty hr 1 *! . _ mamm 

than as a rapid jiggling. «Mjnowi*»b«ii>too 11 fT"\ 

But in the lake bed, the result \ £>// IfiE — \ ft 

was different. The long, intense \ yjV;..;;?.- M! (]••• WT r 

seismic waves, the different densi- \ 1 

ties of layers of sediment, and the \ f ~ . 1 i 

design of certain buiJdings had cat- buuo^mmn, omenta \ Yv.'-'V ; /,* " * . t I 

asoophic results. XX0?lL I 

The reason is that buildings have mnnaoMmiwu \ y^.'PS’WL-H ztM&L ». \ \ R 

natural vibration frequencies. For \ i ' : £\rZfW 

example, if you grasp a credit card oKt*« buiksng* ■] --'I 

at one end, hold it upright and tap 

the free end of the card, it will =««*tn*»w ^ > A y .:; y. ■ - ■•■a — 

vibrate briefly, then the vibrations ewAbnuamn \ YftrjV V ^iFl-iar 

will die out. The vibrations disap- fr ral g. 0< ?“a rt :. \ v$:i,\ Vl 

pear because of the friction of the \ 

molecules of plastic in the card rub- \ 

bing against one another. 

A building in an earthquake be- V y 

haves similarly. A sideways or lat- \ 

eral force moving through the ESSSEJSl 

ground causes it to vibrate. The toMwSan- :>*?£ 

frequency depends upon its height, 181 **-■ ■ 

meLhod of cons traction and the na- 
ture of its foundation. brate, or flex, in an earthquake. Tower, a 37- story budding con- 

Strudc once, the building's vibra- dissipating the earthquake’s energy Stiuaeduothe 1950s at the core of 
lions will quickly die out, since the through vibrations of the structure the earthquake acme, was not dam- 
energy that caused the vibrations is — without so much vibration that aged. Its vibrational period is 3.7 
absorbed within the building. Fric- the building comes apart seconds, 

tion between the molecules of iron Modem high-rise buildings of 5 It is believed that when the sasr 


wMimrtrM 


SAUDI ARABIA 


The Ministry of Planning of the Kingdom of Saudi 
Arabia has the following openings for qualified 
candidates in the Sectoral Planning Division: 



Mftwala, Madam 
buWflnga are daMgnrt 
toVOarateatcaftau* 
fiaquanctaa to 
dfanlpXaMrthqdBXa 

aoetsy. The dMtfln 


. cartidn buBtfings 

piayaa asattMi thoM of 
Otnaffl. craaDnga 




Sectoral Development Economist 

Agricultural Economist 

Water Resources Development Planner 

Physical Infrastructure Planner 

Transport Planner 

Industrial Economist 

Training Development Planner 

Health Planner 

Social Development Planner 


THE WORLD HEALTH ORGANIZATION 
invites applications for the post of 

MEDICAL OFFICER IN THE 
PARASITIC DISEASES PROGRAMME 

which w3i become vacant in August 1986 


AcrnmtmcM 

DUttnoifiefB 

tmMdOuclOsn- 

urntfU MimcBoi 


MINIMUM REQUIREMENTS: Ail candidates should have doc- 
toral degree in related fields with five years or more direct 
professional experience, or master degree with ten years 
experience. Preferences are given to candidates who are estab- 
lished professionals, with national level planning and govern- 
ment service experience, particularly in developing countries or 
international organizations, Knowledge of Arabic is o plus. 


CONDITIONS OF SERVICES: The successful candidates will be 
located in Riyadh. Salary depends on qualifications and experi- 
ence. Others benefits include housing, education and mainte- 
nance allowances, free use of a cor or transportation allowance 
paid leave of 45 days a year, and economy class return tickets 
for home leave. 


Dufies: Urder file supervision of the DreQor, Parasitic Diseases P r ogramme, the 
incumber* y*Q be responsible far the mplementaoon and Future deveJqpmerX of the 
WHO p ogra n n e for human i me st md parasdK infedions. both protozoan and 
hetarahe. This vmH involve international eoartincsion and cooperation with WHO 
Begrend Offices and national hearth services » stimulate programmes of intest in e! 
hef n inthiesis control uang a Primary Hedth Cera approach. The incumbent wffl be 
respomible for professional and technied trans ig m the dagnasa, epidertvaiogy, 
chemotherapy and control of inteslind pcrasific infections and wiO be expec%d to 
continue the present acftve programme of teaching cartes at country and mterre- 
gond feveL The incumbent w«H provide speaabt advice to other branches of WHO 
and w® base with other programmes wth senior interests, particdkxfy the Oicrrhoeol 
Dcecses Contr of programmes. The odnmistration of neseerch gxrts and the updating 
of epdemoiafpeal sfiumvaion are essential parts of the pro g r u tw n e. 




vraomusm 

anacoOuMs 


Carmaaeihr-proof 
buttings wifti 
KximSationsrest- 
■ngonrafersnif- 
tereawthatm- 


brate, or flex, in an earthquake. Tower, a 37- story buMog cou- 
dissiparing the earthquake’s energy suucudinthe 1950s at the core of 


energy that caused the vibrations is — without so much vibration that aged. Its vibrational period is 3.7 
absorbed within the building. Fric- the building comes apart. seconds, 

tion between the molecules of iron Modem high-rise buildings of 5 It is believed that when the seis- 
in the building's sled beams, for to 20 stories usually have a vibra- mic waves traveling from 20 m3es 
example, absorbs energy. So do the tional frequency of two seconds. If beneath . the Pacific coastline 
concrete, the iron bars inside the such a building is pushed sideways, reached the old lake, bed in the 
concrete and the building’s other the building will sway, taking two Valley of Mexico, the layers of 
elements. seconds to make a trip to and fro. gravel, sand and day produced a 


to 20 stories usually have a vibra- mic waves traveling from 20 utiles 
tional frequency of two seconds. If beneath , the Pacific coastline 


Interested candidates should send detailed resume with 
salary history, expectations, names of references, and 
availability to: 

The Assistant Deputy Minister for Sectoral Planning, 
Ministry of Pfenning, P.O. Box 358, 

Riyadh 111 82, Saudi Arabia. 


OwfiicaiMra: Medcol cfegree from a reeogmd LkmmnUy. A paitgraduate degree 
or equivalent in (raped medamf or pubfcc h«*h would be an aae*. A: toast fiv* yem' 
experience m the design and admuistrohon of research end control programmes on 
parasitic diseases Trapcol field and laboratory experience in rasench and control of 
■Tteshnc! porc ai H c irvectons would be hi^fiy dewnUe. ExcderV knowledge of Enf£sh 
or French with a good working knowledge of rhe other. 

The Krfoty scale remges from US$51 J46 tsngW and from U5SS6JD35 fwifii depended]} 
ne> of la* per annum. 

Apffcadom are irtvrted from oanddates of either sex - apportions from women are 
encxxir aged Quafified canefidates should send their delated curriculum vinoe not ialflr 
them 28 February 1986 quertmg POP/86 to: 


concrete and the building’s other 
elements. 

Buildings are constructed to vi- 


gravel, sand and day produced a 


Mexico City's Latin American striking effect. Seismic waves travel 


IN BRIEF 


Personnel (MPRJ 
World Health Organization 
CH-1211 Geneva 27 


Please mark the envelopes 
rF Sectoral Planning Professionals." 
CJosing date for applications: November 22 . 1985 . 


Only those canddafes under iericus consideration will be contacted. 


WASHINGTON (NYT) — - Destruction of spac&- , m .. . . 

craft by antisateltite weapons of both the United rt t *r y «r • ’ m '."Of tne* iake bed vibrate ‘naturally 
Stales nod the Soviet Utffiaddmgtiythe estimated Curbs UTged OH NoiSyTotS ; period: The re- 

40.000 bits of debris that already threaten qiacecraft nnTPnrwr, rwv\ r™L rhn, stiTwaS that the ground of central 

in earth orbit Swcd ® rOrJ?? 3*^1? Mexico City and many of tbe 

While the volume of space within which earth said- OT * "“tod as 

lites operate is vast, several U. S. and Soviet craft may ^ ^ Swedish ^aves of sasmic energy struck 


because of tins, the waves from the 
earthquake underwent significant 
transformations as they bounced 
between the sedimentary layers. 

Some wares, striking the border 
between a layer of day and sand, 
wri ght base been reflected back. 
The reflected waves then struck oc- 
coramgw&ves, canceling them out, 
a phenomenon physicists call de- 
s t na t/ eiBtdfamct. 

But other reflected waves proba- 
bly jomed np with oncoming 
waves, ma k ing them stronger, in 
whatpfayscsts call constructive in- 
terference. 

' Dr . Esteva Marabou: and his 
ccrffeaguesaUhe Amaaotaom Uni- 
versity of Mocicobe&ve that parts 


already have been damaged or destroyed in collisions “The setisiii 
with space debris, according to the journal Science. n , inVTir _« m , 
Radar is monitoring about 5,600 objects in earth pJi: af n - «T m* 


. Alf Axdsson writes in thejoomal 




SUPPLY AND TRANSPORT OFFICER a-SKffl .pSKi 


International Financing Organization 
(United Nations) located in Rome (Italy) 
seeks fill position of 
Assistant Secretary 
Governing Body Affairs. 


United Nations Agency operating in the Middle East seeks 
Supply and Transport Officers for Hs Reid Offices in Amman 
(Jordan) and Gaza. 


other fragments. Tbe remaining orbitets are working ^ ^ 


thousands of smaller objects, such as paint chips 
substantial enough, it is believed, to haw: produced 

160 holes orlnuSu. the Solar Max satellite ^ ^ squeafang^ squeeze^ te 


Under general supervision of the Secretary, the incumbent will 
assist in the planning and conducting of all official meetings, 
including: 


— direction and coordination of meetings documentation. 

— drafting and presentation of management statements to 
governing bodies, meetings agenda, minutes and other 
related documentation. 

— study and follow-up of all aspects of meetings proceed- 
ings. 


Candidates may alio be considered far similar positions expected to be 
vacant elsewhere {Damascus and Jerusalem] in rhe Agency's area of 
operations during 1986. 

Applicants shoufd have University degree in business administration or 
related fidd and additional course work or training m supply and transport 
management. Excellent command of spoken and written English is essential. 
Extensive experience, preferably af international level, is required in supply 
and transport management including purchasing, supply planning, ware- 
housing, stock accounting and transport fleet responsibilities. Arabic know 
ledge -would be desk-able. 

Incumbent will supervise operation and maintenance of transport fleet and 
the procurement, receipt, storage, issue and distribution af supplies and 
equipment required to provide services to large refugee population. 

Salary and allowances range From U.S. $35,000 (single) and from 
U.5. $38,000 (with dependants) tax free per annum, plus fringe benefits. 
Qualified candidates should send detailed curriculum vitae and 
photograph as soon as possible quoting reference VN/12,'85 (A) to; 


Chinese Find Fossil Primate 


BEUING (AFP) — Chinese experts have discov- 
ered rare fossils of what may be a forerunner of man, a 
giant ape up to 10 million yews old, the Xinhua news 
agency said. 


The squeaking squeeze toys entirted np to 108 narara: viora- 

decibels measured at about 4 inches (10 centimeters). P 011 fra 3 uenc y-> tbe glass will shat- 
”At normal distance, tbe sound pressure appears to be IC [L. . 
within safe limits,’' 'they write. “However, there is a 15 essentially what hap- 

dear risk for noise-induced bearing Idas if the toy is P® 11 ®? m Mexico Gty. When the 
used close to the ear of the cfaM.” • sasnne waves arrived, they caused 


bufltfings sitting on it resonated as 
waves of seismic energy struck 
thent' 

if two crystal glasses with, the 
same natural vibrational frequency 
are placed side by side and one is 
Struck with a spoon, both will ring 
Sound waves from the struck gl ass 
travel through the air to the other 
glass. If the sound waves are in- 
tense at the glass’s natural vibra- 
tion frequency, the glass will shat- 
ter. 

This is essentially what hap- 


Tbe fossfls, found last month in Sichuan province, arctic city, where midwinter darkness affects the sleep- 
belong to a species of Gigantopiihecus, a giant primate mg habits of up to one-quarter of the population say Had ZzTZr: 

from rhr Pimctru-MO **ra and Tidnnffino to an mtpmw l „ ... -T? n3a 11 D«n an e 


New Light oh Insomnia 

TROMSO, Norway (Reuters) — Scientists in this 


seismic waves arrived, they caused 
the lake bed sediments to resonate, 
and the sediments probably ampli- 
fied some of tbe waves. Many 
buildings began to resonate in con- 


front tbe Pleistocene era and belonging to an interme- 
diate state of development between the great apes and 
primitive man, the agency said. The discovery in a 
cave 2,640 feet (800 meters) above sea level also 


they may have unlocked some of the secrets of insom- 
nia and pointed the way to a cure. 

Other research suggests that the hormone melatonin 


tiad it been an earthquake in 
which the most intense waves last- 
ed only a few seconds, disaster 
ought have been averted. Bui the 


“ V . C f< ? S?° • ibc 5 863 leV ? P^ys a vital role in inducing sleep, bm Thoimar SqSe wafaSSd w 

included fossils from 20 speaes of mammals and Hansen, a biochemist who operates a “sleep clinic” generated by two 

reptiles dating up to 65 million yean ago, such as here,. believes his team may be dose to being able to seconds apart. 


Candidates should have an advanced degree in social sci- 
ences or law and additional qualifications in international 
relations. Seven years progressive experience in management 
of development programmes and participation in meetings .of 
legislative bodies. Proven managerial and organizational 
capabilities. Mother tongue English and excellent drafting 
skills. Knowledge of Arabic, French or Spanish desirable. 



Head, Staffing and Training Office 

UNRWA Headquarters 

Vienna international Center 

P.O. Box 700 

A-l 400 Vienna Austria. 


mastodons and sabre-toothed tigers. 

The scientists who made the discovery said that it 
would help the study of Chinese paleontology, of the 


alter the human “body-dock” to eliminate sleepless Ocularly ka^and 


many medium- 


De pending on experience and qualifications net base salary 
per annum will range from US $4 1.308. 32 with dependents, 
and US$30,274.93 to US$38,101.37 without dependents. 
Cost of living allowance subject to change according to United 
Nations Common System will range per annum from 
US$2,868.20 to US$3,547.00 with dependents, and 
US$2,663.20 ta US$3,271.60 without dependents. 


would help the study of Chinese paleontology, of the Dr. Hansen said that large doses of bright tight help #u *» e “ ed 10 

geological history of the upper reaches of the Yangtze produce mdatomn, secreted by a near the sacss ttaa «pected. 

river and of the formation of the Yangtse gorges. brain. He sad there was strong evidence to show that P 

deeping patterns could be altered by a^iistmg the officials, acting on the ad- 

o 1 T 11 j t ‘ me ^ me ^ aton ™ was produced. Research ^cc of universiry engineers, have 

dale OI JVldneyS IS Abused showed m a ximum secretion or the honaane was at 2 £j' rise<J ** city’s budding code. 
pmxRTmr.Hi-APt A-M^ while the brain began producing it at about 1 1 calculations used by building 


Initial contract is for two years. Deadline for applications is 31 
January 1986. 


Send applications in first instance to: 
Box 212, the International Herald Tribune 
55, Via della Mercede, 001 87 Rome, Italy. 


PERSONNEL WANTED 

Following personnel required to work 28/28 in 
Middle East preferably UK/ Australian citizens: 

• 4 Toolpushers 5-10 years experience jock-up 

• 2 Drillers 10 years experience 

• 2 Electricians "SCR" 

• 2 Mechanics 

• 2 Rig movers 

• 2 Barge engineers 

Please send full C.V. fa- Box No. 0341 68, 

IHT, 63 Long Acre, WC2E 9JH LONDON 


PITTSBURGH (AP) — Kidneys for transplants are 
in such great demand that some have been sold for up 
to $13,000, or more than seven times their weight in 
gold, according to a 10-month investigation by The 
Pittsburgh Press. 

Tbe newspaper found that money often determines 


Longevity Factors Isolated 


The calculations used by building 
designers have been made more rig- 
orous. The ways in which columns 
and floors in a building are tied 


BEUING (AP) — A study of Oka’s centenarians S^S^^’strea- 


has determined common longevity factors: a low-fat. corner 

hmhJililv/Kal unit « .L - . ^ V!' 


*• *«■ (W*-) 5- SJH SdSS 


reripienL And money is an incentive to donors in such areas, a press report said. 


countries as India to put their kidneys up for sale. 
“When you have commodities that could be life- 


57535k * • mgs with parking garages or W 

Most of the 3,765 centenarians discovered in the open spaces oTthe 


’ oemenamns discoveredin the open spaces on the lower lewd* As 
T-h rc S ioas shaking continued, columns in 


saving or prevent you from ^J8«jpptod or btind^ sudb. as Tibet ar^Xhrimug, the People's DaflySiT the open lobbylma mK 

and they are scarce, you immediately face the law of Two doctors from Hubei province told a swmw uPt>erfloor<i 

the marketplace degenerating mto the law of the sium in Nanning recently that 70.5 percent^the with offices or 

jungle,” ^d Dr. ^TcaJn? a pioneer in kidney centcmariarMarewmen. fbdx snid7fS*atmS 1X301115 ^ ^ 

iranqjlantatioa, who works at Cambridge University have a low-fat, low-animal proteiiL hirii-Fibw hS* lower . the 


iransplaniation, who works at Cambridge University have a low-fat, low-animal protein, high-fiber dieL lower floors . 

m England. Last year, while almost 10,000 Americans based on refined and coarse grain. “Theve^iov eatf^ parted aShtJL^? 00 ” *5° 
underwent regular dialvas while waiting for trans- beans and green. vesetsthW and >u. i Wasting motion to 


underwent regular dialj-sis while waiting for trans- beans and green vegetables and their calories are the bmldines Fnrfw 8 
plants, at least 300 kidneys collected in the United mainly obtained from carbohydrates,” the report said. weakening 

' ^ 7 s 77 — buildings had been built 


Reld Servke Engineer 


-"KVTERIVATIO^AJL 

POSITIONS 


Mens collection 


Ties: back to heavy silk. 


close together. Some,' resonat- 
mg with the earthmiake. banged 
neighbors, caxaing 

r S* - wncrete caiumus often 

!!«2L becsniSe ^ were not boflt 
smmgly enough- Tie continued 


MOTOROLA, a worldwide leads' in amnunicatiaas products 
offers an outstanding opportunity for an experienced service 
engineer with a solid background m electronics and nticrqproces- 
sore and the deare to travel (over 80%) out erf Europe, (mainly North 
and Central .Africa). 

A minimum of 5 years experience in the repair, maintenance and 
installation of a wide range of communications equipment is a must 
We offer a very attractive travel/ R + R plan, and a competitive 
salary (26 - 32K. dollars US). 

Send your complete C.V. and detailed work experience to the 
Personnel Depu. MOTOROLA SA^ 14 alle du Carnal, Zi de la 
Petite Momagne-Sud, 91020 Evry. 


appears 
every Thursday 
A Saturday 


There is no possible doubt about it'- heavy silk is back in fashion 
for ties. Lanvin has a whole collection of them, specially woven on 
period looms. The result is an extraordinary variety of rich 
fabrics, in colour combinations such as you have n ever seen 
before, with, designs ofdstoiiishitig reUef. 


<8> 


MOTOROLA 


TO PUCE AN ADVERTISEMENT 
contact your nearest 
International Herald Tribune 
representative or Max Ferrero: 
181 Are. Otarles-de-GauIle, 
92521 Neg illy Cedex, France. 
Tef.i 47-47- 1 2-65. Telex? 613 595. 


Then there are the famous “Lanvin Specials, t which are also 
woven on period craft looms.lt takesnearlyasqu art' metre of silk 
to make only three of these! 


to the concrete slab floors they 
A common sight in Ihe 
«*hquate damage zone is build. 
SSL w “°. sc . concrete columns 
7^ bmgiitt the floor slabs 


** accusations 


But here are only a few suggestions; [with, eighl thousand ties in 
stock, Lani'in offers the widest choice you could possibly want. 


tka» — ’ .'6 BWQSailQDS 


LANVIN . , 

IS, rttcdu Faubourg Saint Honori, 75008 Paris 4l.6S.I4A0 

2, rue Gambon, ISOOt Paris. . , 


° mdsh ^ been 
.ragioeers have- 

23? ^SrSaSiff ; £■ 

thfSiH^ rely . ra accor riance with 


,;i.u 

s\ 


{ T*U 


I!*** 


at different velocities in sand, grav- 


el and day. andri b thought that 
because or tins, tbe waves from the 


T 










^'^‘VtslocilwiOM, 

:: ■' ,Jj . v - Md it a (J^- 

“• r uj).e undmtai sr»' 

-" :■ reuuans as fe^ 

'•- the *dimottyfc 

v a,r, «. sinking fey. 

- ;c V J 'awrrfckrrtt 

r • "■ ='• c hecn refkaaj t 
; •' ,:A *-^»av ei [liaii( Rl . 
rtjS-XCinafalgtfO;, 
-"•"'T.cnun phyaosK^l 
--"• •••• mierferena. 

‘-c'rentx-ledwiip|i 
' up with oacrc- • 
•»• -auna them simp- 

- 7 '“■ /! J‘J> call f amwtg 

• - v 

- ■ ;>il-vj Marabou jj; 

-- ; - - • -- iht: AuuaoBmL 
••• Mc'jcobebewiliaE 
- biii sibraie unc 
. . ••*•- -ctfindperad.lt 
iij* ibcgrtwndofe 

• .. and rainy d: 

-•■ _• lUiajioDiiresoio:' 

' -eumjc enijpj i 

•.“VUJ glasses 
-• a! ubnMdh|E 

- •.. j 'iiie by sdtaadc 

j 'pv.ion.bodi ift. 

.. . 0 .-- Irom ttesuodi. 

. ■■■.’.•usH ikairwfco 
‘ ’fv; jound ft'J'®* 1 

. j. glass'* n*il E . . 

’• . .• j-.vjo ihe alasrf ^ 

. :« iXItliall) «f* 

• •-. Mi-uco Giv Ms- 

• . jjif. irri'ed. 

\d .cdimcniawrct 

vJimcni* protabhc 

-- ..f the 

,. -.at •t«<wkI 
\~t, aa on"® 1 

, r .U3W»3® : 

- . - <w 

■ .... •v.-cn avoud-^ 

. _ ,C 

• -. -c and maiivf 

• - .y.-lrr.- »fl>f ^ 

dune*}"® 4 p|t 

. ... ...vs bui^r, 

,_. -.•.tfivJ!**!'* 

W/ 


—9 % 4 V IMTRMTIONU I«w *. 4 

ilcralo*^ (tnbunc. 

“ fr*- J “ill Tfn ■ 111 r.— «M TTm X^.AjSm 


NORTH AMERICAN REAL ESTATE 


A SPECIAL REPORT 


THURSDAY, NOVEMBER 7, 1985 


Page 



Guidelines 
For Foreign 
Purchasers 

By Robert C Siner 

WASHINGTON — Foreign investors in 
U.S. real property are now subject to a feder- 
al withholding lax oil. any gains realized when 
they sell that property. 

Amendments to the Foreign Investment in 
Real Property Tax Act (FIRPTA) provided 
that,as of Jan. 1, 1985, gains from any sale of 
a UJ5. real property interest by a nonresident 
foreign individual, partnership or corpora- 
tion would be subject to wi thho lding of either 
10 percent of the selling price or the seller's 
maximum tax liability, whichever is less. This 
is withheld from the payment by the purchas- 
er at the time of sale. 

The actual tax liability wQl be 20 percent of 
the gross gain. 

Exemptions from the withholding tax are 
provided: •• 

• If there is an IRS-approved agreement 
covering payment or exemption. 

• For sales of real property lor S30QJW0 or 
less that the purchaser will' use as his resi- 
dence. This property most include an existing 
dwelling, Property without a dwelling is sub- 
ject to withholding even if the purchaser’s 
residence is eventually built there. 

• For sales of pubUdy traded stock. 

• For Sides of nonpublidy traded stock 
where an affidavit has been submitted than 
the corporation is not a U-S. rcal-propcrty- 
holding corporation. 

Under the terms of the acCreal property is 
defined as an interest in real estate, buildings, 
other permanent structures, structural com- 
ponents of buddings, equipment used in 
farming, foresuy or mining equipment used 
to improve real property, furniture used in 
lodging facililies and property used to famish 
office space. Interests in real property include 
direct ownership and ownership of slock in a 
nonpublidy traded corporation holding U.SL 
real property. • 

Before passage of FIRPTA in 1980, non- 
resident foreign investors in U.S. real estate 
were not subject to capital-gains taxes on real 
estate unless they were “engaged in trade or 
business in the United States* or the gains 
werc.Veffcctiyely connected wjih that busi- 
ness. Readqat aliens and those foreign invesS~j 
tors (teemed to be engaged in a U.S. trade or 
business paid regular U.S. taxes. The rule for 
resident aliens and foreigners engaged in U JS. 
business remains 

Foreign investors not engaged in US. busi- 
ness may elect to be taxed as though they 
were. To take this option, the investor must 
file a statement to this effect with the tax 
return for the first year in which the option 
will take effect- This can be of advantage 
because real estate income, such as rent, will 
then be taxed on a net basis. This means that 
the foreign investor can claim deductions for 
depredation, interest payments and operat- 
ing expenses and be taxed on a progressive 
scale, the real estate income of foreign inves- 
tors not engaged in US. business is taxed on 
(Continued on Next Page) 



Blessing of the hounds at Derby Meadow's, Manassas, Virginia- 


Tha Wahn y i ( 



in the Hunt Country 


By Ann Mariano 

MIDDLEBURG, Virginia — Here among 
the undulating green hills and pastures of north- 
ern Virginia, where even the teddy bears in a 
village shop wear fox-hunting garb, luxurious, 
fairy-tale estates are the rule and the inhabitants 
are the wealthy and powerful: 

Standard features on the sprawling properties 
are stables, bams and riding rings, since fox 
hunting, racing and breeding horses are pas- 
sions with many who live here and many who 
come looking for estates to buy or rent. ' 

The Orange County Hunt, named for Orange 
County, New York, where it began, takes place 
in this area and is considered by some to be one 
of the world's most exclusive hunts. 

In tiny Middleburg. fashionable center of the 
1,100 square miles (2.840 square kilometers) in 
Fauquier and Loudoun counues that make up 
the hum country, the rich landowners mingle, 
often unnoticed, with crowds of tourists. 

Visitors have included Queen Elizabeth and 
Prince Philip, who had lunch with Paul Mellon, 
one of the world's richest men, on his 1 .000-acre 
(405-heciare) estate at Little Oak Springs. 

American presidents since George Washing- 
ton have visited or lived here for short periods. 
John F-r Kennedy first, rented a. country Horne 
jurtF later bunt his own. naming fl Wexford: 
Nancy and Ronald Reagan rented Wexford, 
which the Kennedys no longer own, for two 
months duri ng the 1980 presidential campaign. 

Jack Kent Codec, the owner of the Washing- 
ton Redskins football team and New York’s 
degam old Chrysler Building, has a home here, 
as do retired U.S. Ambassadors W. Averell 
Harriman and George C. McGhee. Other Wash- 
ington personalities with estates include Senator 
John w. Warner, Republican of Virginia, and 
Katharine Graham, publisher of The Washing- 
ton Posl 

The hum country, a term longtime residents 
scornfully say was made up by a real estate 
agent but one that has stuck nevertheless, is an 
hour's drive from Washington. It is even nearer 
Dulles International Airport, an important con- 
sideration for jet-setters and corporate execu- 


tives who travel around the world for business 
and pleasure. 

Several elegant and historic estates are on the 
market now. Forrest Edward Mars Ji_ a reclu- 
sive millionaire whose S385-million fortune 
earned a place for him on the Forbes magazine 
list of America's 400 wealthiest people, warns to 
sell Marland, his 217-acre estate. 

Long Branch, a historic mansion on property 
purchased by a Virginia pioneer from Lord 
Fairfax in 1720. is for sale. Big Spring Farm, a 
485-acre estate with a mile of frontage on tbe 
Potomac River, and Newstead Farm, which has 
a manor house built in the ISOOs. are available. 

Marland. priced at S3 million, has an S.630- 
square-foot (799-square- meter) manor bouse 
built in 1933. It contains TO rooms, plus a 
servant's wing, dressing rooms, an attic with a 
sauna and a basement with a wine cellar. The 
property Is equipped with a swimming pool, 
kennels and eight tenant houses for estate em- 
ployees, as well as barns and other fadfities for 
horses. 

The estate commands a “spectacular" view of 
Virginia’s Blue Ridge Mountains, said Phillip S. 
Thomas, a Middleburg real estate broker. 

The fox-hunting country has a long history, 
and Long Branch, named for. a spring-fed, 
stream that runs through the estate, is one etf its 
mbst famous 1 properties. Hie diree-stdry brifck 
mansion was designed by Benjamin H. Lai robe, 
who also helped design the U.S. Capitol and the 
White House. One well-known feature of the 
house is a stairway that spirals from the large 
entrance hall to the top floor. 

Like most estates in the hunt country, the 
142-acre Long Branch property is equipped 
with barns and stables Nearly all the land is in 
pasture, nurtured bv the limestone that sweetens 
the bluegrass. making the area one of the finest 
in the world for breeding horses. The price is 
SI. 3 million, and a sales brochure notes that the 
annual property taxes come to S2.414. 

Big Spring Farm, priced at $2.58 million, has 
horse and caule facilities, a tennis court, swim- 
ming pool and a 3,000-square-foot, frame-and- 
stone house built in the 1940s. 

Newstead Farm is bigger, with 5)4 acres, and 


more ex perii-.- — S7A million. Its sprawling, 
three-storv manor house is adorned by formal 
gardens. The estate has a swimming pool, green 
house and s» tenor.: houses. Its stables and 
large bores, wufc a iota! of "4 stalls, and its 
bluegrass pastures hove produced 35. winning 
race horses, according :o Mr. Thomas. The 1 984 
property u.v assessment was SI 1.447. 

In a lower price range. SI. 5 million will buy 
Chilton, a 67-acre estate with a ! 5-room field- 
stone house, swirmrang pcoi and hors: facilities. 
The house, w befc w as built after World War I. is 
not old by the standards of the hum country, 
where many of the old manor houses date from 
the 1800*. said Stuon Kr.ower. a real estate 
agent. 

For years, the hunt country has attracted 
Hollywood celebrities. Fred .Astaire often visit- 
ed his sister's estate one Errol Flynn w ent on fox 
hums here. From the newer generation of stars, 
Robert Duvall bought Butcher's Run. a small 
estate, earlier this year, and Sylvester Stallone, 
star of the “Rombo" films, is reported to be 
looking for a house in the area. 

The late television personality Arthur God- 
frey commuted for 30 years from his New York 
office and apartment to Beacon Hill, a 1.967- 
acre farm near the Loudoun. County town of 


The Marland estate, left; Lung Branch, 
above, and the classic entry hall at 
Newstead Farm, below. 


Leesburg. A Saudi Arabian prince bought the 
farm in 1977. His attorney said at the time that 
the prince would keep the farm imaci. 

Two months ago. a group of real estate devel- 
opers and investors, including former Secretary 
of State Alexander M. Haig Jr., signed a pur- 
chase contract for the property and revealed 
plans to build between 400 and 500 luxury- 
homes on il plus a health club and a private golf 
course. 

The announcement dismayed local residents, 
who want to keep the countryside one of farms 
and estates. 

Some estates are available for rental, at rates 
ranging from S2.000 to S5.000 a month for the 
houses. Mr. Knouer said. The land usually is 
rented for a much lower figure, typically around 
S25 per acre annually. 

One of the best-known landlords is the dancer 
Rudolf Nureyev. who owns and rents out a 415- 
acre estate with a brick house and other build- 
ings. The rental fee was not revealed. 



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is pleased to announce 
a new investment alternative 

TheChateMcmhattan 
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an open-end fund 

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Minimum Initial Investment $200,000 
Subscriptions beginning November 1 , 1 985. 



This cirmoiwcarti-jit is neitha an offer to sell tun a solicihitum oj offers to buy 
units of participation in the fund. Offering is nuu.le only by the Offering Circular. 
Units arc m >t being offered in any jurisdictii «i in u hich such offering is tint authorized 
ur to am person to whom it is unlawful to malic any such offer. 


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mm 


Page 8 


A SPECIAL REPORT ON REAL ESTATE 


European Designers: America ’s Latest Love Affair 


By Jean Bond Rafferty 


NEW YORK — New York has 
always been a melting pot of inter* 
national lifestyles, but the recent 
wave of distinctly upper-crust im- 
migrants — more Park Avenue 
than Ellis Island — has put a new 
veneer of sophistication on Ameri- 
can interior design. 

“Europeans, used to living in 
grand luxe in Europe, have grown 
up with beautiful objects and have 
a better understanding of them,'’ 
said Wendy Moonan.” the design 
editor of Town and Country. 

“They lepn towards French fur- 
niture; Italian gilded commodes 
and even Venetian painted furni- 
ture. They're not afraid of whimsy. 
They possess more paintings, more 
Chinese porcelain. Aubusson car- 
pets, needlepoint cushions and sil- 
ver epeignes. The Europeans are 
not afraid to show it ail off. The key 
word is opulence." she said. 

Two styles seem to be competing 
for supremacy in the brown-stone 
belt: English country bouse and the 
Style Rothschild. Both ascribe to 
the anti-minimalist. more is more 
fun. school. 

At the same time, there is an 
increasing interest in contemporary 
European designers. Although 
these trends seem contradictory. 


they axe explained by the fact that 
Americans have never been afraid 
to be eclectic. The living room may- 
be 3 paean to the 19th century, but 
the kitchen and bathrooms are usu- 
ally firmly modern. 

And in a country where virtually 
all decoration is done by profes- 
sionals. what better demonstrates 
the genius of an artistic eye than 
the harmonious marriage of two 
distinct periods, the contemporary 
and the old. 

“One of the basic differences in 
decorating here is that 90 percent 
of Americans have nothing to start 
with," said Vincent Fourcade. a 
French-bora decorator. His inter- 
pretations of Napoleon 111 decors 
instigated the fashion Tor the florid 
opulence of the Style Rothschild 

“The reason I use so many print- 
ed fabrics on the walls is that I bate 
modem pictures.” said Mr. Four- 
cade. He said that now that French 
furniture prices are prohibitively 
expensive. 19th-century Russian 
furniture is in. “Its pale woods and 
slightly different shapes make it 
very exotic" he said. 

Mario Buaua, an American dec- 
orator and a premier exponent of 
the English look, described it as 
"chintz, ruffles and bows, comfort- 
able and cozy and very, very popu- 


lar" with both Americans and for- 


eigners. 

He attributed its success to the 
influence of England’s Colefax and 
Fowler and die late Laura Ashley. 

“Europeans have lived in their 
houses for seven or eight genera- 
tions and have a lot of furniture left 
over.” Mi. Buaua said. “Americans 
move house seven or eighr times in 
one lifetime and each time they 
start afresh. When Americans 
make their fortunes, they don’t 
want to show that they were ever 
poor. They sun contemporary, but 
move towards traditional when 
they discover that is how the estab- 
lishment lives.” 

The decorator Anne Eisenhower, 
who says her style ranges from 
high-tech to Georgian design, has a 
considerable foreign clientele, in- 
cluding Japanese, Indians. Span- 
iards and South Americans. 

She finds less difference in taste 
than in patience between her for- 
eign and American clients. “Ameri- 
cans are willing to wait nine 
months for a carpet.” she said, “but 
asking foreigners to wait four 
months for wallpaper from Italy is 
asking die world.” 

Nina Campbell, an English dec- 
orator. said that Americans really 
like a much grander version of the 
real thing. “The light and climate in 



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Choice of a 6 month, 1 or 2 year lease. 

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Daily housekeeping services and a 24-hour a day concierge. 
Within walking distance of downtown Stamford. 

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Call or visit the model suites on site. 
Weekdays 9 AM-5 PM/Weekends by appointment. 


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Financing by Barclays Bank of New York. N A. 


New York are very different to En- 
gland.” she noted. “When you're 
fainting with heat half the year, you 
won! want woolly fabrics on the 
sofas." 

She called curtains the linchpin 
of the English style and said that 
she uses French chintz in the Unit- 
ed States, calling it more sophisti- 
cated than an English fabric. 

“I think Americans want to 
think they like the English look, but 
they can’t cope with our shabbi- 
ness.” she said. 

Manuel Canovas, a French fab- 
ric designer, said that the influence 
of status decoration magazines has 
blurred the differences in Ameri- 
can and European tastes. “A fabric 
that goes well in Paris, will do so In 
New York and Rome,” he said. 
“But Americans are much more 
open to new designs. Some of my 
more unusual designs I only seD in 
the United States.” 

This American readiness to ac- 
cept new ideas mixed with Europe- 
an ingenuity and savoir fairs is con- 
tributing to a new love affair 
between European design and the 
American market. 

Andree Putman of France, 
known for her designs for New 
York's Paladium nightclub, Mor- 
gan's Hold and the new Barney’s 
store for women which uill be 
opened in January, said, “In the 
United States, the hands no longer 
know how to do these things.” 

She, like other designers, has ev- 
erything made at home and 
shipped to New York. 

The French interior architect 
Ronald Cecil Sport es, who de- 
signed the 22-floor headquarters of 
L’Ortal’s American company Cos- 
mair on Fifth Avenue, said. “All 
the office furniture sent from Eu- 
rope including freight, tax. customs 
and installation was 50 percent 
cheaper than if we had bought it in 
the United States.” 

Mr. Sportes’s lamps, which he 
designed for the living quarters of 
President Francis Mitterrand at 
the Elysee Palace, are selling well in 
the United States. 



An English county-style bedroom by Mario Buatta. 


Redoing a 'Dream House 9 on a California Giff 


By Ruth Ryon 

LOS ANGELES — “Reflec- 
tions" is the name that the interna- 
tional real estate firm of Sotheby 
Parke Bernei gave a Laguna Beach 
house when it was put on the mar- 
ket four years ago for S 1 1 .5 million, 
and. taking that cue. owners Boyd 
and Sharon Jefferies reflected on 
selling the borne and changed their 
minds. 


rated it with the help of Pasqtiale 
Vazzana of West Hollywood. “1 
like the whole feeling of the bouse 
now.” she said. “It’s so much nic- 


er. 


“Manhattan real estate and con- 
struction are the most expensive in 
the world," Mr. Sportes said. “I 
had to transform my European 
conceptions. In Europe you can 
construct for the year 2000. New 
York is in total mutation. Buildings 
are destroyed after 10 years. Invest- 
ments have to take this progression 
into account.” 


No wonder. Although the place 
lacks the show-business neighbor- 
hood that people elsewhere asso- 
ciate with Southern California liv- 
ing. it is the kind of house most 
Californians dream about. 


Another major difference, he 
said, is what he terms the “show 
business" method of renting or sell- 
ing deluxe market office space. 
“Money or function is never men- 
tioned. They speak of the architect 
like a Picasso or a Monet He is a 
star. The building is sold on a pre- 
sentation of his work as living his- 
tory, and if you want to be part of 
it you’d better be there.” he said. 

The insistence on the personality 
of the designer may be startling at 
first to French designers, long ig- 
nored at home, but they quickly 
realize the benefits. 

“We’re welcomed like kings,” 
said Jean-Mi chej Wilmotte. anoth- 
er of the Elysee Palace designers 
who is designing luxury bathrooms 
for a U.S. manufacturer. 


ft is a house of surprises, from 
the sculptured brass, copper and 
stainless-steel front door to the cir- 
cular bed in the master bedroom, 
which has control buttons to rotate 
the bed. open the room's skylight, 
tuna on a wall television set and 
pan the shades on the glass walls to 
reveal the ocean, which the house 
faces. James Bond would be happy 
here. 

Designed by architect Fred M. 
Briggs of Ijgiina Beach, the house, 
completed in 1978; is a combina- 
tion of concrete, teak and bronze 
plate glass — so much glass th3l the 
house could not be built in Califor- 
nia today because of coastal and 
energy regulations enacted during 
the past few years. Mrs. Jefferies 
liked the glass, but there was some- 
thing missing. The house was won- 
derful to look at, but to live in? It 
wasn't friendly. 

What it needed, she decided, was 
a new decor. The Jefferies took the 
house off the market and redeco- 


Mr. Vazzana used overstuffed 
furniture with lots of pillows. a 
backgammon table, a couple of 
marble and black granite coffee ta- 
bles and a grand piano to help fill 
up the immense living room. Two 
fishtail palm trees reach from the 
floor to the skylights 25 feet (7.6 
meters) above. A bridgeway across 
the living room at the second-story 
level connects the master bedroom 
to the main entrance rotunda. 

The decorator covered some of 
the teak walls with hand-blocked 
wallpaper and some of the teak 
floors with sculptured carpet to 
make the house seem warmer and 
easier to maintain. “It seems terri- 
ble to cover teak, but keeping it up 
was a lot of work.” Mrs. Jefferies 
said. 

For the same reason, she 
changed the kitchen tile to granite, 
“because there is no grout, and 
granite doesn’t show any dirt.” She 
added air conditioning: “Sail air 
lakes its toll on everything inside;” 

When she had the house redeco- 
rated, she had a second Jacuzzi 
installed in the master bath because 
the first one. which is much larger, 
took too long to fill with water. 

Typical Southern Californians, 
she and her husband, who is owner 
of Jefferies & Co, a stock broker- 
age firm, are busy and, consequent- 
ly, careful about budgeting their 
time and practical abort not mak- 
ing unnecessary work for them- 
selves. Mr. Jefferies commutes by 


car to work, which is about an hour 
away. “He used ~to drive himself 
into downtown LA. but about five 
years ago. for his birthday, I got 
him a lime for two weeks,” his wife 
said. “At first, he said, ‘Ah. gp on. 
This is too embarrassing,’ but 
about the third day, he said H was 
great. He's had a driver ever since.’" 

The property indudes a separate 
guest bouse, an eigbt-car garage 
(which houses the Jefferies' collec- 
tion of red Fenaris) and a lighted 
tennis court. There is also a wet or 
dry sauna with one-way window 
looking into a fully equipped gym- 
nasium: a sieamroom that can be 
used with steam or as a regular 
shower: a family room with blade 
granite and rosewood bar. pod ta- 
ble, and big-screen television; a 
wine cellar and three guest bed- 
rooms. 

“Reflections" is perched on a 
rocky cliff with a private beach 50 
feet below. Tbe glass- walled spiral 


The house's lighting effects, 
wtech are partly responsible fur the 
name “Reflections." can be seen 
when the outdoor lights and the 
lights no the indoor ’trees come on 
aL night. 


Has fcas-spedal appeal to Mrs. 
Jefferies. “! take the house best at 
night” she said. . 


Capital Gains Guidelines 


AUCTION 


MAJOR COMMERCIAL AND 
INDUSTRIAL DEVELOPMENT STIES 
IN THE STATE OF OREGON 


WATERFRONT 
DEVELOPMENT SITE 
NEWPORT OREGON 


*Ju + acre parcel. Suitable tor destination resort and 
commercial marina development. Fronts both 
Yaquina Bav and the Pacific Ocean. 


SILTCOOS LAKE CLUB 
RESIDENTIAL SUBDIVISION 
FLORENCE, OREGON 

132.45 acre residential subdivision with lake fron- 
tage near Florence. Partial planing of lots has been 
completed. 


MEDFORD INDUSTRIAL PARK 
WHITE CITY OREGON 

Remaining property within the Medford Industrial 
Park, consisting of 17 land parcels (250 ± acres); 3 
leased buildings and developer's office building 
(72,500 ± sq. ft). Railway access and all utility ser- 
vices are available. Properties will be sold in bulk or 
individually. 


ATHLETIC CLUB 
KLAMATH FALLS. OREGON 


1.23 acre commercial zoned parcel improved with 
±20.000 sq. ft metal building; currently the 
Klamath Racquet Club. 


FOR FURTHER INFORMATION 
OBTAIN THE AUCTION 
CATALOGUE BYCALLING (213) 
451-8574INTHE LOS .ANGELES 
AREA OR (503) 772-341 3* 
ELSEWHERE DAILY BETWEEN 
9AM AND 5PM OR MAILTHE 
COUPON BELOW 


BUILDING IN 
SHOPPING CENTER 
MEDFORD, OREGON 


The Auction Catalogue details each property with full 
descriptions, color photographs and finance 

information. 

Tlir auction u»i/l he conducted oh Friday, i\Wmif»er 
22nd, 19S5. 

Broker Finder's Fee 


Approx. 7.2*-" ► sq. ft. concrete block structure on 1.0 
acre lot. Former Ballbangcrs Racquet Club. 


IMPROVED LAND PARCEL 
BROOKINGS, OREGON 

.S»5 acre secluded parcel located in Brookings Har- 
bor hills. Improved wirh one 2.40U sq. ft. home. 2 
mobile home pads and spaa* for RV parking. Com- 
mercial zoned, near shopping center. 


Mail to; Kcuncdy-WiJson't 

Oregon Commercial Auction 
I2W Ocean Avenue. Suite 22ll 
SauU Monica. CA ‘Xl4<M 


inr 


Name. 


Address. 
City 


.St. 


Zip- 


Phone {Home). 


(Business). 


RESIDENTIAL SUBDIVISION 
ASHLAND, OREGON 

24.2 acre unimproved subdivision. Ideal for PUD 
development. Zoned R1-5P- 


AUCTION CONDUCTED BY 
KENNEDY-WILSON. INC 
CALIFORNIA BROKER 
THE HANNEN CO., OREGON BROKER 

© I9K5 Kcnnedy-Wilson. Inc. 


r Branch Office 



DICK'S CASTLE 

Perched on a mountain top in the magnificent Hudson River Valley. 
Dick s Castle contains over 3P.0CU square feet. 92.7 wooded acres 

and 3.600 feet of road frontage on Route 9D S3.000.000. 

For Additional information concerning this 
unique property and its uses contact; 

LIMITED EDITIONS REALTY, inc. 

(914)265-9678 Exclusive Agent 




ROSE 


ASSOCIATES 


Builders. Owners. Managers, 
Consultants and Owners' Representatives 


New York ■ Boston ■ Washington • Ft Lauderdale 
380 Madison Avenue. Na> York. N.Y. lOOl? - Telephone: (232) 2104666 




Feau Realty 


1 


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(Condoned From PreriowTS^e), 
a gross basis. No deduction? are 
allowed and the tax rate isset at a 
fiat 30 percent ; 

The nilcs for establishmg wheth- 
er a foreign individual, partnership 
or corporation has a LIS. trade or 
business are not precise: But gener- 
ally, the more substantial the in- 
vestment, the greater the involve- 
ment in business activity.-or. in the 
case of rental property, the shorter 
the leases and the more numerous 
the tenants, the greater the likeli- 
hood that a foreign investor will be 
held to be engaged in business in 
the United States. On the other 
band, personal use of property as a 
residence or rental of anintp roved 
land does not usually constitute in- 
volvement in a U.S. business. 

However, in 1980, Congress de- 
cided that the tax rales gave foreign 
speculators in U.S. real estate, es- 
pecially farm land, an undue ad- 
vantage over Americans. The result 
was FIRPTa, which levied a capi- 
tal-gains tax on aS foreign inves- 
tors in U-S. reaJ property. 

FIRPTA did not indude with- 
holding but instead mandated a 
complex and controversial set of 


repornxg reqirirements. which, 
among other things* would have 
required nominees to. disclose the 
names of their foreign principals. 


Because of their complexity, im- 
position of these rules was contin- 
ually delayed until Congress re- 
peated them in 1984 and replaced 
them with a withholding tax. How- 
ever. the IRS was ordered to study 
the workings of the amended 
FIRPTA and institute new report- 
ing requirements if necessary. 

An IRS spokesman, Robert Ko- 
bel. said that the revenue service 
was in “a wait-and-see status” and 
bad no plans to draw up hew re- 
porting rales. 

Besides the FIRPTA rules, taxes 
on income .and capital gains from 
real estate may be affected by the 
tax treaties that the United States 
has with more than 30 nations. In- 
vestors claiming total or partial ex- 
emption under these or other tax 
laws must get approval in writing 
from the IRS Foreign Operations 
District in Washington; 1325 F 
Street, N.W. Inquiries should be ’ 
marked atin: FIRPTA Special 
Group. 


WTODQSCDCfQ 


your SUS buy mare tn Toronto, Canada. 

170 Apartment Complex 

• A very well maintained complex 
•Price; 53,310,000.00 

* low tong-term financing 
•12% return. 

Office Balding 

F irst-cla ss binding located in central Toronto with 
government as tenant. *l3BwHE 

Financing available. 

^ — * - 

UWrtD CORPORATI ON, 

4Z Vonoe Street, Suite TOO' • 

xrs&ssssrszaa. zz~ ™' 


Own land in the great V 
American West 


Five or more 
acres of 
this land can 
beyours. 
Easy credit 
terms 
available 


..Here's an outstanding oppor- 
tunity to acquire a sizable 
piece of America's ranchland 

at a very modest cost. - . — w 

Sangre dc Cristo Ranches Inr rfc- L 
velopment subsidiarv 1 “ e ' ltod de ' 

homesite and a liferim* rt r „ Ul3r . * or a 

-uu a ure tune of appreciation. 

ftaimmn 5-acre ranch ,i te SUrtin? „ i4j500 ■ 
_ S*ndu^yforfa c ^ an 4 hJ! color brecW ", 


FORBES' EUROPE 

»SBSSE8f"* B *r B 

LONDON SW113UT 
ENGLAND 



Name 







staircase leading from the library to 
(he master bedroom has a thick 
glass base, winch gives anyone 
di robing the stairs the feeling of 
standing in midair over the waves 
crashing agamst the coastline. 

From any room in die 14.000- 
square-foot (IJOO-square-mcier) 
L-shaped home, there is a view of 
the ocean, but there it also a view of 
rolling lawns, eecafyptusand palm 
trees and bougainvillea. Inside 
views are mostly of modern works 
of an — sculptures, wail hangings 
and Tribe® — mainly by California 
artists. 


Aitnin Rt 






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•* “J- . 





INTERNATIONAL HERALD TRIBUNE, THURSDAY. NOVEMBER 7, 1985 


A SPECIAL REPORT ON REAL ESTATE ' 


Keeping Up Appearances 


I if or 


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real • : * 


By Edicti Cohen 


NANTUCKET. Massachusetts 
— in the amiquisGUed dining 
room of ite Jared Coffin House, am 
1845 mansion ; built by a whiling 
fortune and now serving as an inn, 
the .gpests’ conversation tores to 
whaiJresidem Ronald Reagan’s 
tax proposals, limiting deductions 
on mortgage interest payments for 
second homes, could mean for 
owners of vacation homes. 

' Later that evening, at Book- 
works, one of the few shops open 
on a street of gray clapboard oot« 
tages, a clerk emits with a customer 
about completing the paperwork 
for buying a house. Aid. at the 
Brotherhood of Thieves, a wviafrk 
pub. an architect and his client re- 
view renovation plans. 

It is difficult to spend much dm* 
on Nantucket, an island 30 miles 
(48 kilometers) off the Massachu- 
setts coast, without falling into a 
conversation about the acqmshiou, 
disposition or transformation of hs 
50 square mil es ( 129 square kilome- 
ters) of real estate. . 

The population, which swells 
from 6,000 year-round residents to 
more than 40,000 in the summer, 
seems to be in the grip of real e s tat e 
fever. 

Not long ago Nantucket was a 
sleepy summering spot for genera- 
tions of New Englanders. Many 

S ew up to buy vacation property 
at then became a full-time or re- 
tirement home. 

There is a prevailing sense of a 
distinctive small-town community 
that knows its roots. A resident 
who cannot answer the question of - 
an “off-islander” explains, “I’ve 
only lived here 26 years." 

By the mid- 1 960s, however, after 
a 100-year economic trough, tour- 
ists discovered the island. Now 
more than 700,000 visitors flock to 
Nantucket annually. With them 
has come a desire to own property 
that has worried some islanders. 

Bruce Posner, a long-time visi- 
tor, said, “People once owned 
homes, and now they own real es- 
tate." 

The boom is raising sobering 
questions about how to preserve 
the island's natural beauty and 


Preserving 
the Quaker 
style . 
of Nantucket 
in the . . 
1840s. 





JfiW’ 


. • •• 


s si?*?*#' 


. . «AJ. ; 


?„ .‘3 


sense of haven, without squelching 
its economic benefits. 

Along with growth .have come 
the usual problems of traffic con- 
gestion, air pollution, crime and 
drugs. To confront these issues, 
Nantucketers increasingly are turn- 
ing to a tradition of defending their 
uniqueness, on Yankee ingenuity in 
devising legal strategics and on 
New England grass-roots activism, 
which has produced the Alliance 
Against Dragoon N amuck et. 

On the positive side; said Bill 
Klein, chairman of the Nantucket 
Planning Commission, tourism 
struck just late enough “to save the 
island from development and Vic- 
tocian architecture” and keep its 
identity intact. 

In fact,. in 1955 the island had 
fought for and won official status 
as a “historic district,™ ensuring 
that any changes would be consis- 
tent with the subdued nature of its 
Quaker origins and the pervading 
style of the 1840s. 

By the early 1970s, however, con- 
struction was picking up, and legis- 
lation was proposed to ensure the 
preservation of the wild areas, as 
well as those on neighboring Mar- 
tha's Vineyard and Cape Cod. 


H. Flint Ranney. a Realtor with 
Den by Rea! Estate, said that while 
the hUI did not pass. ii hung in the 
air long enough to spur fervent sub- 
division and building. By 1975. the 
planning commission was estab- 
lished. 

In reuem years, the 2h-hour boat 
ride from the mainland competes 
with flights into the island's air- 
port. Three cruise ships visit during 
the season, which Wretches ten- 
uously from the Daffodil Festival 
through the Christmas Stroll. 

Corporal c meetings are big in 
autumn. To earn some of the $45 
million the tourist* pump into the 
economy, islanders rent out their 
homes in the summer and move ir. 
with relatives, paying rents them- 
selves. 

Scallop fishing is a S2-mi!!ion-a- 
year industry, while the construc- 
tion business hnngs in S2G million 
annually. 

Real esutc has appreciated as 
much as 1 20 percent in the past five 
years, Mr. Ranney estimate*. And 
Mr. Klein said that sales in dollar 
terms have climbed 140 percent in 
four years, to about 5120 million. 

Luoile A. Jordan, another of the 
island's 300 licensed real estate 


l It . rfi!." 5»* 

mm 


brokers and an owner of Jordan & 
Jenkins, pm the median bouse 
price at about S275.000. A “dump 
in Iowa" could go for S350.00C. 
and a nice place in town could fetch 

5950.000. she said. Lots start at 

560.000. She added. “We’re not be- 
ing invaded by poor people.™ 

The number of penniis for new 
dwellings has also soared, accord- 
ing to Carl Borchen. the island * s 
building inspector. In 1977. 94 
were issued. A cap of $0 a year was 
imposed from 19S0 to 1986. except 
for year-round residences. But be- 
cause of exemptions and plans al- 
ready under way. be expects to is- 
sue 300 permits for 19S5. 

The island, densely populated at 
the harbor, has tiny village-like 
clusters, each with its own name, 
scattered among farms, cranberry 
bogs and the wide scrubby moors 
that arc prey to developers'. 

In 1965. the Nantucket Conser- 
vation Foundation, a private 
group, began buying up land to be 
kept wild and held in trust for the 
public. Together with the Audubon 
Society and other naturalist 
groups,' it owns about 6.000 acres, 
or about 16 percent of the land. 


Mountain Retreats: Where the 'Old West 9 Survives 


By Lou Chapman 

DENVER — Ask someone what 
comes to mind when you say luxu- 
rious Colorado real estate, and they 
are likdy to say. “A ski chalet in 
Aspen" or “A house by Frank 
Lloyd Wright in the foothills.'' 

But there is another type of real 
estate awaiting the sophisticated 
buyer whose wanderlust might turn 
westward, a type of home 1 ind a 
vision of land that people leave 
places like Aspen to find - the 
mountain ranch. 

Lying in the valleys of some of 
Colorado's most beautiful moun- 
tain ranges, such real estate in- 
cludes working cattle ranches, Ara- 
bian horse ranches and hundreds of 
unf armed, ungrazed private acres 
of land. This land provides not only 
serenity and solitude for its owners 
but also is used for the private 
hunting of elk and deer and for fly- 
fishing for brown and rainbow 
trout. 

Many of these randies, although 
tucked away in Colorado’s less- 
iraveled ana less-familiar reaches, 
include homes as modern and luxu- 
rious as those in New York City or 
Cannes. 

“We still have gunfights -down 
here occasionally,™ said Jack Carr, 
whose Arabian horse ranch sits in a 
secluded valley 160 miles (258 kilo- 
meters) south 3nd slightly west oT 
Denver. “It’s just got a mystical 
beamy about it that's hard to de- 
scribe. And it certainly is Old 
West." 

On' the other hand, the Carr 
house, a two-story home of 3,000 
square feet, (278 square meiere) 
was designed by the architect EHiot 
Noyes and features a 280-square- 
foot kitchen with cherry and 
Koana wood cabinetry handcraft- 
ed by a local woodworker, built-in 
refrigerator and adjacent built-in 
freezer, three panuies. range, oven, 
grill, wet bar and lots of counter 
space. 

It is a modem home in an acces- 
sible but nigged wilderness. 

Mr. Carr bought his ranch in 
1981. He bald planned to retire then 
and raise his horses there, but he 
bad to return to Connecticut to 
manage the Matcon Corp., a com- 
pany be founded and from which 
he thought be had retired. 

As a result, the Carr ranch is on 
the market for S1.2 million, which 
is high by Colorado standards for a 
house on 479 acres (193J hectares) 
of land. 

“Our view of it is that it's clean 
and quiet and stress-free." Mr. 
Carr said. “It gives the animals a 
sense of f reedom and serenity, and 


CORPORATE 
San Diego County# CA 

TV* maw-tufty deugntd ond 
fyi ppi pnH 37-ocre rewocfittB oontpouw 
wilh 2 slowly hom»i premd» 
fity, privacy, etogcw* ond scene cm* ">■ 
On the weserty *>pe t f0 una 
Utt^ it is flash acwwWfl “S** p ,*9° ; 

The original home. 

Uoyd Wnofa conKm 5000 *q. "v J** 
second newly burtt home of 7,000 sq. ft- tP 

ihe New Ortoam style affcri 10 

guest cottages ore duslered oroundme 
k*a wi* * 0 *« aland, taoch and doct 

A operate *•"* '**« l 
prmdt «*rwnniis* Tho re- 

markable 4ndav« » m «W M«nfl ° 
corporate ralraat. Bfodw® JHT-7155W. 
S5.4MJM0. 

preview 

inwv i^4j.«Jrlri‘ n * lh r w,1 rf^*l' ,xV ir**'' 1 * 1 ' 

1231 5teflflSt. Sta. M6-A 
S.A M«. CA 93101 
((OS) 94WWW or l-*00 
pvi-2222 (OutAk CoMaro) 


our horses seem to be extremely 
unusual as a result of it. They're 
very gentle, very sociaL™ 

The Carr ranch lies between the 
Sangre de Crisio Mountains and 
the Collegiate range; 13 miles down 
a county road that intersects a state 
highway. The nearest town is Coto- 
paxi, 13 miles to the south. Air- 
fields are in Salida. 37 miles west, 
and in Canon City, 50 miles east, 
where Mr. Carr keeps his plane. 

Ranching has long been the live- 
lihood of the area. In .1879, Uncle 
T. Witcher, a Georgian, brought 
5.000 Texas Longhorn steers to the 
meadowland of what now is the 
Carr ranch. Witcher, the first white- 
person known to have lived in the 
area, stayed on and squatted the 
property. 

One of the bams on the Can- 
ranch is a hundred-year-old land- 
mark built erf logs that has been 
modernized with box stalls and 
feed and tack rooms. 

“You can find cabins in the val- j 
ley that were not built all that long 
ago. in tbc 1920s and ’30s. when ; 
there were 1,400 people living! 
around there, growing lettuce and 
celery. Today, there are only three 
or four year-round families near 
there.™ 

Year-round in the valley does 
not, however, mean blizzards and 
months of subzero weather during 
the winter. The home is at an eleva- 
tion of 9,000 feet (2,740 meters), 
but the temperature is moderate. It 
is, after alL protected on three sides 
by mountains. 

About 170 miles west of the Gut 
ranch is the SL 1-mill i cm home of 
Bill and Stella Pence. The three - 
story. 12-room. Southwestern-style 


borne sib amid 160 acres of forest 
in southwestern Colorado and of- 
fers majestic views of two moun- 
tain ranges, the Cimmaron Range 
to the east and the San Juan Moun- 
tains to the south. 

The area has other attractions. A 
few years ago. John Wayne and 
Glenn Campbell filmed the movie 
"True Grit™ in Ridgway, the town 
nearest the Pence home. And 
Ralph Lauren, the clothes designer, 
is a neighboring gentleman ranch- 
er. 

“The locals call this the Platinum 
Valley.” Mr. Pence said. 

The property owned by the 


Pences is isolated, vet only 30 miles 
from Montrose, which is served by 
several flights daily from Denver. 

Mr. Pence is director of the Tel- 
luride Film Festival, an activity of 
the National Film Preserve, and he 
recently accepted the position of 
director of film studies at Dart- 
mouth College in New Hampshire. 

The Dartmouth appoint merit led 
to the Pences* decision to sell their 
home. The professional involve- 
ment in film explains why the 
house has a double-prelector, pro- 
fessional-quality screening room in 
the basement. 


ATTRACTIVE FLORIDA 
INVESTMENT 
OPPORTUNITIES 

70 JMtaa Iram Otaaay WofM, in Lokfl WoIm on iha Kkuramo* Woia<way, 
Mvor Ranch R— ort b the teegert, mortflxciftng Watfm-rtylfl resort in 
the southeast. On 750 sprawling acw, th* vast resort offers: lighted 
airstrip, marina, golf course, swimming pooh, Iannis courts, rodeo arena 
& staves, hotel & viUos, campground, RV & mob3 horn* parks, restau- 
rants & Stores. Fabulous deve l opment pouibrlititn await the new owner. 
Brochure HT-fil 6304. $6,900,000. 

M i ra nt, Florida, a the strategic lo ca tion for thb Nether la nds Antilles 
corporation's warehouse holdings. The 2 attractive buWngi, totaling 
99,499 are within the Sunshine Stoto Industrial Parle, with airports 
just minutes away. For cm offshore buyer, the 10% withholding tax 
required of U-S. citixeni does not apply. Brochure IHT- 
816309. $1,300,000. 


PEEVIEVg 


Ia»m 1 nursmes U»r «lM » bum iril nIMr 

309 Rawed Posadana Pfce. Wm Beach, Ft 33480. 

(SOS) 832-7131 or 1-800 - PV2-2222 (outside Colorado). 


The Addison. 

Expensive New 
And Soon To Be Priceless. 

Now the majority of the residences at The Addison, priced from 5332.000 to 
in excess of $1 million, have already been smJJ. Soon, one of the rarest commodities 
in South Florida, a luxury condominium on the last great stretch of beach in Boca Raton, 
will become a priceless one. Move up to a residence that features concierge service, valet 
parking, advanced security and eligibility to apply tor membership in the prestigious Boca 
Raton Hotel and Club. The original tower will be ready for occupancy in the fall of 1985. 
and the final tower will be ready in the spring of 19S6. Tu arrange a presentation, call 
(3051 368-3994. Before The Addison becomes the finest residence that money cannot buy. 




INTERNATIONAL REAL ESTATE CONTACTS 

If you want to establish 

International Real Estate Contacts in over 90 nations, 
consider joining the 

INTERNATIONAL REAL ESTATE INSTITUTE 


Membership in the Association is in one of four categories 

R. I.M. — Registered International Member 

S. C.V. — Senior Certified Valuer 

R.P.M. — Registered Property Manager 
C.P.I. — Certified Property Investor 

■ Mixihcnhip Fa- in StfiiOu per >£jr; 


In addition to joining other Real Estate Professionals from 
throughout the World who are active in and desire also to establish contacts 
with Real Estate Investors. Developers. Traders. Property buyers & sellers, 
the Members receive the Internationa! Real Estate Journal. 

Internal i»»nal Real Estate Newsletter. International Properly Report. 
Registry of Members and other Special Publications and Seminar notices. 


“. International 
9 Real Estate 
Institute 


For Information on how you can expand your Real Estate Contacts 

write 

INTERNATIONAL REAL ESTATE INSTITUTE 
8715 Via De Commereio 
Scottsdale. Arizona 85258 USA 
(602 ) 998-8267 
Telex 165092 




Address. 


City 1 . ' - Stow ZIP — Cauntiv 

The enmrlvte terms an: in an 'rfftrinjjpLin avaibMc fi'm spam* r Cf WnJ in all stales where rr»hihiled 

hy Jaw. This Property Is Registered With New Jersey Real E«aaw Cnnutnssmn. iNJA Sn L*t CS 5196 FLAi 

Adifiv>nJi«nlVeultutf UP 5 









Page 10 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 7. 1985 


A SPECIAL REPORT ON REAL ESTATE 


061i 


Prices Leveling Off at Top of New York Market 


NEW YORK APARTMENT COST INDEX 

Appredaiion rates based on tbe eortof atj^icai *"<> 

bedroom luxury apartment. 


By Leslie Whitaker 
.NEW YORK - New York 
City's residential real estate is 
among the most expensive in the 
United States. But recent concern 
about potential changes in the lax 
code and about the strong dollar 
have weakened domestic and for- 
eign demand for luxury housing, 
the most rapidly expanding sector 
of Manhattan’s market. 

Consequently, brokers expect 
the year to end on an unusually flat 
note and next year's price rise to be 
held to less than IS percent. 

“Prices have been leveling off." 
said Henry Robbins, of Yale Rob- 
bins, a New York real estate con- 
sulting firm. 

He said that “the market can 
only absorb so much." dung the 
9,400 apartments that were built 
this year and the 13,700 units that 
are expected to reach the market 
□ext year. 

But anticipated investment re- 
turns of about 7 percent in 19S5 
and double that next year are tow- 
only in comparison io the New 
York market's history. Condomini- 
um and cooperative owners real- 
ized appreciation rates of 18 per- 
cent or higher during seven of the 
last eight years, including a 66-per- 
cent price leap in I97S. Last year, 
the average value of condominiums 
and cooperatives climbed 28 per- 
cent. 


This year has been an exception, 
experts say. because concerns 
about President Ronald Reagan’s 
proposal to reverse real estate tax 
deductions has weakened domestic 
demand, and the strong dollar has 
put prices out of reach for many 
foreign investors. 

In the past, individual and cor- 
porate speculators have held tide to 
about 40 percent of New York's 
housing. More recently, however, 
the market has been driven by a 
new breed of buyers — renters who 
have become buyers because they 


are no longer willing to pay their 
landlord an average of $2,000 a 
month for a one-bedroom apart- 
ment. 

But persistent double-digit mort- 
gage rates may have dampened 
even this new source of demand. In 
19S2, record interest rates forced 
condominium and co-op prices 
down by 10.5 percent. Mortgage 
rates, which averaged 13.4 percent 
last year, have dropped an average 
of less than one percentage point 

during the first 10 months of 1985. 

Most brokers, however, report 


increased activity in the past sever- 
al months, due to abated concern 
about the tax code 3nd a positive 
response to international efforts to 
lower the dollar. 

David Bates, vice president for 
international soles at SoLheby’s. 
said, “People are finally biting the 
bullet and deciding to buy some- 
thing." 


But Barbara Corcoran, president 
of The Corcoran Group, character- 
ized that activity as “making up for 
lost time." 


The vast majority of New York- 
ers still rent, but those who own 
their living space typically buy into 
cooperatives, buildings that are 
owned jointly by residents. Resi- 
dency rules require approval of 
new buyers and often there are 
tight restrictions on renting the 
units. This makes a “co-op" a much 
less liquid investment and virtually 
inaccessible to foreign investors. 

Developers, anxious to cater to 
speculators, have begun to shift 
their emphasis to condominiums. 



Sevur. The QrJr* 


In Manhattan, Developers Are Focusing on Upscale Condos and Co-ops 


NEW YORK. — First-class 
housing, from the northern shores 
of Manhattan, where Tudor-style 
cooperatives overlook the Hudson 
River, to the southern rip of ihe 
island, where new luxury apart- 
ments are being built, is the most 
rapidly expanding sector of the 
Manhattan real estate market de- 
spite a recent slackening in de- 
mand. 

Many of the new condominium 
projects are on the East Side, long a 
haven for those who can afford 
gracious living. 

The East Side is defined general- 


ly as the stretch between Fifth and 
York avenues that runs between 
42nd and 96th streets. 

However, Mid town Manhattan 
is still the first choice among many 
investors. 

Trump Tower, for instance, is 
recommended by David Bates, vice 

§ resident for international sales at 
otheb/s. He recently listed a $5- 
million apartment in the Fifth Ave- 
nue structure. As many original in- 
vestors sell their apartments to 
buyers who intend to move in, the 
building will become more stable, 
he said. 


He added that many architectur- 


ally unremarkable apartments have 
been substantially upgraded by in- 
vestors. 

The Dag Hammaxskjold Tower, 
located near the United Nations, 
also has a number of vacancies due 
to resales. Completed in 1983. this 
building has a large portion of for- 
eign owners. Its condominiums, 
some of which have magnificent 
views of the East River, range in 
price from $290,000 for a small 
one-bedroom to more than SI mil- 
lion for a duplex. 

Third Avenue is fast becoming 
another fashionable address. A 
large portion of new luxury condo- 


miniums will be located on or near 
this avenue. Chi East 67th Street 
for instance, 11 Five-story town- 
booses, the Fust constructed in 
Manhattan since the turn of the 
centnry, were recently completed. 
With roof -gardens, central atriums 
and matching marble baths, they 
each cany a 54-million price tag. 

A rather unusual option will 
soon be available in the renovated 
Taft HoteL which will include 450 
efficiency and one-bedroom con- 
dominiums when it opens early 
next year. Management will lease 
apartments for owners while they 
are away. In addition, the building 


will be equipped with restaurants, .. 
■cleaners ami maid service, ameni- * 
ties that have become standard in 
midtown Manhattan's luxury 
buddings. 

Steady domestic d eman d has ex- 
panded Manhattan's desirable ar- 
eas. however, as long-time resi- 
dents have ventured outside central 
Manhattan. Strong interest has al- 
ready developed in a new 92-acre 
(37-hectare) landfill called Battery 
Park City on the southern end of 
the island. It will eventually sup- 
port 10 luxury buildings, according 
to W illiam Zeckendorf, one of the 
area's developers. 


Prices for Mr. ZeckendorTs 
nearly completed 350 condomini- 
um units, which are within walking 
distance of Wall Street, will range 
from SI 50.000 to S 12 million. 

The Upper West Side, a trendy 
stretch west of Broadway running 
from the 70s up tq 96th Street, is 
under going a more subtle renais- 
sance. Many of the older, greasy 
coffee shops and discount stores 
tha t lined Broadway have given 
way to stylish boutiques. Apart- 
ments here generally cost . about 
$50,000 less titan similar places on 
the East Side. 

— r F<n IT. WHITAKER 


Foreign 
Investment 
Perks Up 

By Carter B. Horsley 




Brand New 


THE KIMBERL Y 


145 E. 50th 


A Unique Hotel Suite Residence 
Perfect for the Corporate Client 


with pre-opening savings on all the magnificently 

furnished and appointed one & two bedroom suites. 


with the liberal choice of a 6 month , 

7 year or 2 year lease arrangement 

offering housekeeping and executive services equal 

to that of the worlds most distinguished hotels. 


while maintaining the freedoms and comforts of a private 

residence for your ultimate enjoyment and convenience. 


OCCUPANCY TO COMMENCE IN OCTOBER 85 


and for your 
Pleasure, Health & Fitness 


each suite receives a membership to the incomparable 
New York Health & Racquet Club with its nearest 
branch only two blocks away from the Kimberly 


Call or visit the model suites on site 
Seven days a week 10 a.m.-6 p.m. 
371-8866 


The Real Estates Developers Directory 


CONNECTICUT 


SRHLTCCH; 


DARIEN 

DIRECT WATERFRONT 

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ARIZONA 


r— REAL ESTATE —i 
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* Investment Counseling 

Brochure: 

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Psnsfion Advisors, Inc. 

.tt i 


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Tel : 602265.4070 
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LAND 


Located in the pass of gcowth always 
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I mme dia t e opportunities in Colorado 
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INTERNATIONAL 

REAL 

ESTATE 


appears every 

FRIDAY 


To place an advertisetnont 
contact our office in your 
country (listed in Classified 
Section) or: 


ttonufuqu* Bouvet, 
International Herald Tribune, 

181 Ave. Charles de Gaulle, 

92521 NmriUyCedex, 
France. 

TeL: 47.47.1 2.65. 
Tetete 613595. 


Toronto Going In for Luxury living 


By John Aiicmang 

TORONTO — Until recently, 
luxury was a rare commodity in 
Toronto. The Anglo-Saxons who 
settled the citv on the shores of 


entertainment within a few min- 
utes’ walk 

Francois d’HaUuin works for a 
French government agency in 
downtown Toronto and lives with 
his family in a condominium pro- 


Lake Ontario brought with them a ■ 1 ^ conuommiump: o- 
work Mbit that quSdy made To- «■“ Mrnket Sqoait When I 
ronto the financial capital of Cana- came ioTotomo. Ik said, “people 


da. But they also brought a puritan- 
ical streak that put work before 
pleasure and earned the city the 
name Toronto the Good. 

Toronto is still a bustling, busi- 
nesslike city that preserves many of 
the legacies of the 19th century, 
such as a low crime rate and tidy, 
tree-lined streets. But it has also 
learned that a little luxuiy is not 
such a dangerous thing. 

Credit for this change is usually 
given to the influx of immigrants 
from Europe. Asia and South 
America over the last few decades. 
Toronto is now one of the most 
cosmopolitan cities in the world, 
with a huge social mix in its popu- 
lation of three million. 

As a result, the traditions handed 
down from the reign of Queen Vic- 
toria are now open to question and 
the making of money is no longer 
an end in itself. 

Spending money in Toronto has 
become much easier and much 
more self-centered. The dearest ex- 
ample of this is in the rity's hous- 
ing. which has gone from dull and 
dependable to spectacular within 
just a few years. 

Luxury accommodation 
abounds. Many older properties 
are being gutted and renovated to 
bring more light into bigger rooms. 
Jacuzzi-equipped spas and solari- 
ums are compulsory in the new 
homes being built at a in the rity's 
outlying suburbs. Even the cheap- 
est apartment in the latest high-rise 
tower finds some way to call itself 
luxurious. 

But the most impressive luxury 
housing is the condominium devel- 
op mem that has taken over and 
revived much of downtown Toron- 
to. It is not (he most expensive 
form of housing in the city — there 
are plenty of estates s elling for mil- 
lions of dollars — but it is the most 
secure and maintenance-free. 

Because the location of these 
condominiums is more central than 
almost any other housing in the 
city, they are attractive to those 
who want to do business quickly, as 
well as to those who want to find 
high-quality shopping, dining and 


told me to buy a house in the sub- 
urbs. But 1 used to live in the center 
of Paris and I wanted a place down- 
town." 

He finds the standards of build- 
ing much higher in Toronto than in 
Paris. He noted that the kitchens 
and bathrooms are much bigger 
than what he was used to. although 
there is a trade-off. since an apart- 
ment of equal size in Taranto has 
fewer bedrooms. 

He added, “Market Square is 
very safe compared to Paris. There 
is a good staff here that looks after 
everything, and there is also a ga- 
rage and a pool two thing* you 
don't find so easily in Paris.” 

Toronto winters are temperate 
for Canada but still cold by the 
standards of Paris or London. Ac- 
cording to Susan Wigderson, a 
marketing consultant, most buyers 


properties for foreign buyers, who 
have accounted for 70 percent of 
sales in the 72-unit building. 

While many of the luxury build- 
ings in the dty are aimed at local 
middle-aged couples who want to 
move out of a big bouse after their 
children have left home, the Rest- 
deuces seek a wider audience. 

They are located on the edge of 
Lake Ontario and fonn the center- 
piece of a redevriopmeni known as 
Harboorfront that is quickly trans- 
port into a 


NEW YORK — Foreign invest- 
ment interest in American real es- 
tate is reviving. 

In a recent interview. John P_ 
Whiie. the chairman of Landau er 
Associates, a leading real estate- 
consulting firm m New York, said 
that “after 15 months of relative 
dormancy” there is now “a lot of 
promise for the fourth quarter and 
thereafter** with regard to foreigr. 
investment activity in the United 
States. 


j: 




forming an 
readendai district. 

A 1927 warehouse forms the ba- 
sis of the condominiums, which oc- 
cupy [four newly bull floors on top 
of nine floors of expensive shop* 
and offices. Tbe building, known as 
Queen's Quay Terminal was given 
an award of merit by the Canadian 
Housing Design Council in recogr 
nition of the renovation underta- 
ken by the developers, Olympia 
and York LuL, at a cost of 60 
million Canadian Hollar s. (S44 m2- 
hon)u 

The apartments range in price 
from 347,000 Canadian dollars for 
a 1,300- square-foot {121-sqoare- 
693,000 


He said he was forecasting 
“very significant increase for next 
year. esperiaU) along tbe Atlantic 
Coast, from Portland, Maine, to 
Miami, back to the Appalachian 
Mountains, with some rippling of 
interest out of Detroit and the near 
Midwest because of the recovery of 
the automobile industry.** 

Much of the United States was 
overbuilt during the building boom 
that began in the fate 1970s and is 
only now winding down, and there 
are' substantial vacancies as a re- 
sult: Bui Mr. White observed that 
because of the cautious approach 
of foreign investor*, their Ameri- 
can pOTtfotios are. “for the most 
pan. eacriteflL" 


•J.3 < 




Mr. White and other leading ex- 
perts maintained that the Japanese 
would be far nave active than they 
have been. M Leanne Lachman, 
president of the Real Estate Re- 
search Corp.. which is based in 
CfairagD. said the Japanese were 
moving into equity investment and 
direct development of commercial 
real estate instead of concentrating 
on industrial facilities and rental ol 


\ 


■' a 


meter) one-bedroom to 

of luxury condominiums forsake. Canadnu^ dofiarj for *, tsp-kad 1 - .offke space 

Toronto in the winter room, with - a .study, anti sotaimm . , . .. . 

Ms. Wigderson knows tins froir. covering more tfian’Ztfjffs^are Ww.™ JSSLu «« 
her experience at the Queen's Quay feet (Taxes and maintenance fees ' hiT 

Residences. The Residences have add another 800 to 1300 Canadian 

been one of the city’s meat popular doUars a monrh.) ■ 

The site is a Tew blocks from the , 
Essex House, which was recently" 
acquired from Marriott Hotels by 
the Nikko Group, a subsidiary of 
Japan Air Lines. 


MV 


CONTRIBUTORS 


JOHN ALLEMANG is a feature writer at Tbe Globe and Mail in 
Toronto. 


LOU CHAPMAN is a real estate reporter at The Denver Post. 


EDITH COHEN is a New York-based journalist specializing in 
business. 


CARTER B. HORSLEY is a New York Times journalist and a 
specialist in real estate. 


ANN MARIANO is a real estate reporter for The Washington Post. 


JEAN BOND RAFFERTY is a Paris-based journalist who writes 
about French interior design, lifestyle and fashion. 


RUTH RYON is a Los Angeles Times staff writer specializing in 
real estate. 


ROBERT G SINER is a Washington editor for the International 
Herald Tribune. 


LESLIE WHITAKER is a jouroalist specializing in business 
She is a regular contributor to the International Herald Tribune’s 
Personal Investing section and does reporting and research for Tune 
magazine. 


f tirrersn 


JAL is a co-venturer with the- 
Oxford Development Co. in the 
large Quaker Riverfront Center , 
mixed-use project in Chicago. , f 

Miss Lachman also noted (hat 
the Equitable Life Assurance Soci- 
ety of the United States has four 
joint real estate ventures with the 
Japanese, who are beginning to in- 
vest their trade-surplus profits. 

She estimated that direct Japa- 
nese investment in 1984 was about 
$1.7 billion, compared with an av- 
erage of less than $500 million an- 
nually over the five previous years. 

Simon Milde of the New York' 
o/fi« of Jones Lang Wootton. a 
leading real estate organization, 
noted that the recent decline of the 
dollar bad spurred for eig n invest- 
ment interest again “considera- 
bly." 


\ ml 




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A'AEx wicet p.|j 

**EX tag>tv.K}*lP.U 

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QTC nod P.17 

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THURSDAY, NOVEMBER 7, 1985 

WALL STREET WATCH 

Overseas Money Showing 
Renewed Interest in U.S. 


By EDWARD ROHRBACB 

fnientaaonal Herald Tnbrne 

O RLEANS, Massachusetts — Cape Cod juts out into the 
| Atlantic here like a sharp elbow pointed toward Europe- 
lt's a fitting place for John P. Dessauer to live and anise 
about world financial markets in his biweekly advisory 
letter. Dessauer's Journal 

Upwards of SI 00 billion is invested on Wall Street by non- 
Americans and Mr. D essaue r, who spent 3 Vi years in Zurich as 
Citicorp's senior European investment officer, believes they are 
poised again to begin buying U.S. stocks. 

"I think Wall Street looks extremely attractive now to foreign 

investors.” he said. Foreigners ■ - 

shunned U.S. equities in 1984 n j* 

after a long love affair that DeSGWier disputes 

made them net buyers on Wall nn *i rtn #!,«» 

Street each year since 1972. he me 1,00011 0121 
noted, while Americans were Europeans are 
consistent net sellers of their r 

own companies' stock over the not market leaders. 
12-year period. - 

He added that 1985 has not 

seen significant participation by foreigners, but in prior years 
“Wall Street tended to go up or go down, depending on the inflow 
or outflow of funds from overseas.” With the Dow average at 
record highs, he observed, American investors are showing more 
optimism toward Wall Street than at any time in the last 10 years. 

Thus, if foreigners return to Wall Street, he sees a “powerful 
force that could have a dramatic impact” suddenly developing. 

“In 1982 we had a glimpse of what can happen when foreign 
and American investors are on the buy side together,” he said. “It 
was record foreign buying that triggered the great bull market 
that August” 

Mr. Dessauer likes to look at the U.S. market through the eyes 
of the Swiss. From this perspective, with the Dow industrial 
average converted into Swiss francs, he said the risk in U.S. stocks 
is “far less than when the dollar peaked last March.” 


Dessauer disputes 
the notion that 
Europeans are 
not market leaders. 


\%TT HATS MORE, his own index of major world stock 
%\/ exchanges, equally weighted to show relative sentiment, 

▼ T shows that Wall Street is selling at the deepest discount to 
them in five years. 

“U.S. stocks look undervalued, and my guess is that sometime 
soon foreign investors could begin taking profits in their own 
markets and move into Wall Street,” he said. 

Triggering a rush into New York-listed stocks from overseas, 
he believes, will be good news about corporate profits on this side 
of the Atlantic. He predicts a 20-percent earnings spun in 1986, 
the result of continued strong consumer demand that by then will 
be focused more on home-produced products because of the 
weakened dollar. 

He cited the example of the Frankfurt Stock Exchange, where 
the FA Z Aktien index jumped 52 percent in ibehrsl 10 months of 
1985. This surge, he said, was “largely inspired” by a 37-percent 
. gain in West German corporate profits over the period. 

V • “A 20-percent expansion in earnings by U.S. companies — 
which really isn't so much — could easily translate into a 25- 
peroent rise in the Dow,” he said. “That would send it up to the 
1.700-1,800 level.” 

W hile many Americans, particularly the big institutions, tend 
to dismiss foreigners as “laggards, not leaders,” and insist that 
“the tail cannot wag the dog,” Mr. Dessauer disagrees. He thinks 
foreigners are simply more astute. 

“Typically. Americans look at Wall Street and nothing else,” 
he said. “But for reasons of financial survival, foreigners have had 
(Continued on Page 17, CoL 5) 


Currency Rates 


Cram Rate* 



S 

t 

D-M. 

FJ*. 

IU- 

Cldr. 

87. 

SF. 

Yen 

Amsterdam 

J.9J3 

*217 

11280 “ 

37JBS* 

1147 • 


.55H* 

137J07" 

14274 y 

■nnsatsta} 

51415 

736325 

20222 

44» 

18858" 

17.934 

— 

245873 

2582" 

Frankfurt 

280 « 

174 

— — 

32815" 

1881k 

88855" 

4844" 

MUD" 

1J4S3" 

London (b) 

1.065 


17315 

11X738 

252L5D 

471 

73345 

3JJ735 

29*825 

Milan 

JJS7J0 

ZS25S0 

47X00 

27L59 

— 

stun 

3UV 

02077 

OSS 

Mew York (c) 

. 

08«7 = 

ism 

7J97 

175080 

2SM 

5280 

2137 

20442 

'Porte 

13FS 

11J88 

10474 

— 

45125k 

2783 

15856" 

37023 

10575" 

Takga 

lldll 

29705 

7971 

24j02 

1177" 

7072 

39113" 

9441 

— 

zurfen 

11428 

117777 ' 

81345" 

1788" 

01219" 

71025 ■ 

40727" 

— 

18418" 

1 ECU 

8849 

asm 

22088 

*732 

189081 

1 MW 

4*8734 

18175 

174301 

1 SDK 

U770 

675007 

180545 

153977 

NjO. 

3.15V 

348479 

13092 

222487 


Closings In London and Zurich, fixings m other European centers. Mew Yam rates all PM. 
(at Commercial franc Ibi Amounts needed to buy one pound <e) Amounts needed to tor one 
dollar I -I Units of JOB (m I Units of 1JOOQ fW Unttsot HUM NZJ.: natauoted: MJU not available. 
(*) re Our one pound: SUS.IXS7S 

Other Dollar Values 


Curreacr per IUJ 
Anreo. austral MO 
Austral. S 14957 
Austr. KfclL 1029 
All 

Brazil cm. 4410.00 
Canadians 1J&75 
Chinese yuan 12013 
Oaflbli krone 9X323 
Enrol, pound 1X3 


Currency per ujls 
F lo. markka 5395 
Greek aw: 15100 
Hong Kanos 7X075 
■Milan rupee 12X9 
indo. nndafl 1.122X0 
IrUi S 0X411 

Israeli sbetc 1X75.79 
Kuwaiti dear 02929 
Motor, ring. 2X115 


Currency per USX 
Max. peso *95X0 
Nerw. krone 7-8335 
PNLpeso 10.73 
Port, escudo 14250 
Soodlrtvoi U5 
Stas. S 3-1155 
S.Atr. ropd 25641 
5. Kor. won 090X0 


Currency per USX 
Soviet rotea 160X0 
Span, peseta 1779 
Swed. Krona 7X225 
Taiwan s 39-99 

TMMM 36X25 
TorktafiNra 540J0 
UAEcHrkan 35725 
Venaz-MO*. 1455 


8 Sterling : 1X07* irWit 

Sources: Banaue du Benelux ( Brussels J: Banco Commercial* itoUona ( Milan !: Chemical 
Bants (NOW Vork): Banoue NoHanole cte Ports ( Paris i: IMF (SDR); BAH (dinar, rivaL 
dirham 1; Gosbards (ruble). Other data from Reuters and AP. 


Interest Rates 


E u r oc urrency DepwdU 

swto _ French 

Dollar D-Mark Franc SKrttog Franc 

1 month 8 tv-8 V. 4te-4*b 2*-3lk 11 9W-11V. IMS. 

2 months 4te-4 9b 4 *-4 W llV-11% 9ta-9te 

3 months 8 >v£v. «"*-»*. 4*-4«. 11 7V-1I V. 9tkr*n 

4 months 8 <vBv- 4Hr4ta 11VS-UW 10 **-10 r* 

| year OU-O’W 4>V4te 11 «rll •» 18W11 


ECU SDR 
IMS 79V 
0W«t 7 9V 
8<k49v TBi 
Btv49w Tta 
OMhOov 8 


Soanes: Morgan Guaranty (dollar. DM. SF. Pound FF); Lloyds Ban* (ECU): Reuters 
(SDR}. Rates applicable to interbank deposits of SI million minimum (or eaulvaientl. 


Key Money Rates Nk.6 


unmd State* 
Ditcmiat Rate 
Mend Fend* 
prims Bate 
Bnker Lem Rote 


m 7» 

891 t 

99, 9tt 

FH-9 


Com Paptr 9M79 dan 735 7X9 

3-moaBi Tnasary BIOS 72J 722 

S^nanth Tremmr BIB* 7XS 729 

cm 3057 dan 7JB 735 

o . annafckm 730 7 jo 


westCtrtacmy 
Lamtaed Rett 
Overnight Rate 
Pee Man ta tatetha * 

t w a n t, letethaak 


MtervenMe ItaM 
Cell Money 


Hldi 

Book Bore Bow 
Coll Money 
jvdor Treasury B» 
MMb interims* 


Dtscoent Rate 
can Mean 
ISday tatertaadt 


550 55* 
450 <55 
470 4X0 
*J» AW 
4.95 5X0 


9tk 9W 

9«% y» 

91/14 9V» 

91k 9ta 

93/16 92/14 


no uni 
no. B 

— 113/14 

— 113/14 


5 3 

71/14 73/14 
7* 7* 


Aston DoBbt Pap od tt 

Koc.6 

T manta lh-tv 

2 maatfi, 8*V-8«V 

3 manta* Bib-IK 

6 mantas tv-th 

1 rear ts-tv 

Source: Reuters. 


M a ngy Market Fnato 

Not. 6 

Merm Lynch Ready Assets 
M day averoM yield: 7X7 

TslentM letereet Rata Index: 7X1 
Source: Merrill Lynch. Teterote. 


Gold 


Sources: Reuters. Cemmenaonk. Credit 
Lmu/bBeakof Tokyo. 


Aar. 6 

AM. PM. CWbc 

Hone Kona 33*50 32411) +OJ0 

Ll lM Wb WW 335X0 — 1-025 

Paris tl2J kite) 32446 324*7 +0.93 

Zurich 3341* 37450 — 5J5 

London 334.75 3344 — 0 X 0 

NewYtah — 3ZL8Q — 050 

Luxembourg. Ports and London otuctot fix- 
ings: Hong Kang and Zurich opening and 
dosing prices: Mew York Come* current 
contract. All prices fn 1/5. lor ounce. 
Source: Reuters. 


To Our Readers 

P p-ftHy of a Strike at Agence France-Presse, some stock prices are 
missing from our World Stock Markets section today. We regret the 
inconvenience to readers. 


4 A l\TUt mTUm U. M ,4 

Itcralo^^enbitnc. 

BUSINESS / FINANCE 


l\S. Stock* 

Report. Page U 


Philips 
Says Net 
Fell 21 % 

Despite Fall, It . 
Sets U.Se Listing 


AMSTERDAM — Philips NV, 
Europe's biggest electronics com- 
pany. said Wednesday that its third 
quarter net profit fell 27 percent, to 
175 million guilders (about SS9 
million) from 241 guilders a year 
earlier. Net profit for tbe first nine 
months dropped 22 percent, to 611 
million guilders from 78S million a 
year earlier. 

Despite tbe profit drop, the com- 
pany announced Wednesday that it 
would seek to list its shares on U.S. 
stock markets. 

Net sales in the third quarter 
rose about 4 percent, to 13.66 bil- 
lion guilders from 13.16 -guilders a 
year earlier. Nine-month net sales 
rose about 10 percent, to 41 .02 bil- 
lion guilders from 3733 billion 
guilders. 

The company's rice chairman, 
Johannes Zantman, said the com- 
pany no longer expected to match 
the- 1.11 -billion-guilder net profit 
recorded" in the whole of 1984. The 
company- cited, among other 
things, a sharp drop in earnings at 
its North American subsidiary in 
the third quarter. “We expect U.S. 
results to recover in the final quar- 
ter but no longer expect to reach 
1984 levels this year,” he added. 

Mr. Zantman said that Philips' 
Signerics subsidiary had performed 
poorly in tbe U.S. semiconductor 
market, where many companies 
have straggled because of intense 
competition from Japanese compa- 
nies and from falling prices. 

However, he also announced 
that Philips had applied to U.S. 
authorities to offer shares in the 
company on U.S. stock markets. 
“Despite our recent disappointing 
results in North America, we be- 
lieve the bourse [stock market] cli- 
mate is ripe for this offer.” Mr. 
Tantman said. 



1TC Meeting 

Ends Without 

“ ^ 

Tin Solution 


M- . 


An aerial view of the Hannover Trade Fair area. 


Burnishing W. German 'Rust Bek 5 

Lower Saxony Hopes High-Technology Can Lift Image 


Rnam — - +«■ 

LONDON— The International ; work* rmPruducfc* 1 | 

Tin Council adjourned Wednesday ' inteuMM&a'foos 
an emergency meeting here without 
maV rn ^ any headway in its attempt 
to end the in the world’s tin 
industry. 

Delegates said that the ITC 
members will reconvene Thursday 
and next week in an effort to 
find enough funds from their 16 
financial backers to resolve the cri- "*• 1 

SIS- i*****^*^*"^^" - ^^^ 

■ The purpose of Thursday’s meet- ^ lt ^ t ^he tin industry world- 
ing is to finish Wednesday's drscos- widels in complete disarray." 
sions and issue a statement giving am ^wW extreme pressure 

what delega t es called “general as- from ^ 50^ commi ttee and all 
5untnces” regarding the ITCs ef- ^ intpress upon you that 

forts to end die crisis that began |ime for lca j eP n C discussion is 01- 
two weeks ago when tbe council ran ready long past,” Mr. Lion said. He 
out of funds to continue propping akolmd that he was under pressure 



[ 

saying that “the tin industry world- 
wide is u complete disarray. 

«| am under extreme pressure 
from my board, committee and all 
to impress tqroo_you that 
time for academic discussion is al- 
ready long past,” Mr. Lion said. He 


By Axel Krause 

Internationa) Herald Tribune 

HANNOVER. West Germany — After Paris, 
this modem, drab city of 531.000 people seemed 
like something of a comedown as the site for the 
second Eureka conference. Local and national 
politics explain the choice. 

The image of Hannover and the surrounding 
state- of Lower Saxony is dose to the general 
perception of northern Europe in general and 
northern Germany in particular as losers as tech- 
nological and economic activity drains to the 
south. 

Many of the area's steel, shipbuilding and chem- 
ical companies have either moved south or closed 
operations. Today. Lower Saxony has an unem- 
ployment rate of ! 1.4 percent considerably above 
the national average of 8.6 percent 

“We do have an image problem,” a local official 
said. 

Lower Saxony. West Germany's second-largest 


state in area, perhaps is best known for its rich 
farmland and North Sea island resorts oear the 
Dutch coast Its population, now 7.3 million, has 
generally been stable since tbe end of World War 
II. when a flood of refugees poured in from die 
east Every third resident is a refugee. 

Hannover, the 12th -largest in West Germany, is 
best-known for its international trade fair, held on 
grounds where the Eureka conference also met 
And in sharp contrast to the prospering high- 
technology centers of Munich and Stuttgart, the 
Hannover area stHl is struggling to convert from or 
redevelop recession-damaged industries. 

“This is anything but an ideal place to draw 
attention to Germany’s high-tech potential.'' said 
Uwe Vorkduer. an economics editor at the news- 
paper Sluttgaier Zeitung. “But they seem to be 
trying to change their image” 

Ministers from 17 European nations last met in 
Paris in July to discuss Eureka, the French-led 

(Coctiiraed on Page 17, CoL 6) 


up world tin prices. 

“Tbe only tiring that makes a 
meeting tomorrow worthwhile is 
that the ITCs member govern- 
ments are willing to honor their 
obligations,” said Angus MacMil- 
lan, a senior metals analyst at 
Sheareon T Atman Bros. “Other- 
wise there is little point.” 


seated to the ITC by its creditors 
has provoked complex and frag- 
mented reaction from the coundfs 
six exporting and 16 importing 
members. 

The creditors said that they ex- 
pected a reply to their proposal by 
Friday morning. But trade sources 
said Wednesday chat that seemed 
unlikely. 

Earlier Wednesday, the LME 
chairman, Jacques Lion, sent a tel- 
ler 10 Peter Lai , die ITC chairman. 


New U.S. Unit to Liquidate Bad Assets of Some S&Ls 


to dheussons ret dosing 

London's tin market permanently. 

*T have to tefl yon that I find it 
increasingly difficult to resist this 
pressure," Mr. Lion said. “In both 
monetary and turnover terms, tin is 
the smallest and least important of 
oar contract markets,” 

The ITC has so far given no 
iufication of whether or how hwtu 
honor its iwm niT mrttw to creditors 
mid dealers, estimated by traders at 
about J300 ariDkm when tin trad- 
ing on the London exchange was 
suspended Oct 24. 

Trading also remains suspended 
on tie Kuala Lumper exchange, 
tbe Second-Ianest after die LME 
And in Washington, the General 
Services Administration has 

marfcefre- 

mains dined and there is no mark- 
er for the metal’s value, Mr. Lion 
said hi dm letter, k is impossible to 
evaluate the oonacf the BabiEliis 
incurred by the buffer stock man- 


The amount of the offering will _ _ . 

equal about 4 percent of the exist- fort to bolster the U.S. thrift indus- bv an 3 J -member board of direc- 
ing number of nominal 10-guilder tiy’s struggling insurance fund, Ed- tors, consisting of industry execu- 
PhUips shares outstanding, cur- win J. Gray, chairman of the lives. It will he based in Denver, 
really 215 million. Mr. Zantman Federal Home Loan Bank Board, with the bank board holding a siz- 
yiid has announced that the board had able portion of its stock and ap- 

Philins shares closed hiefaer approved the creation of a new proving tbe appointment oT its 
edneKis 5 Si SisreSm Su semiprivaie institution to liquidate chief executive and any sales or 

S U»L««uhddb>ihe7^l arts OHk4 tae hg 

rnmgs drop. The slock closed at Savi^ and Loan fnsurance Corp. board, which provides a credit re- 
wimiMJe nr, freer, as o..ii. The FSLIC. whose cash reserves serve for savings institutions, said 


By Nathaniel C Nash 

New York Times Service 

DALLAS — In a continuing ef- 
fort to bolster the U.S. thrift indus- 
try’s struggling insurance fund, Ed- 
win J. Gray, chairman of the 
Federal Home Loan Bank Board, 
has announced that the board had 


the Federal .Asset Disposition As- capital infusion for the FSLIC. if 
sedation, on Tuesday. the unit’s final charter calls for it to 

The new agency is to be overseen buy the assets for cash. The cash 
- an 1 1 -member board of direc- for the purchases would be raised 
rs, consisting of industry execu- through public debt offerings or 
fes. It will & based in Denver, the sale of stock to the 12 regional 
th the bank board holding a siz- Federal Home Loan B anks. 
ile portion of its stock and ap- Bui Norman Raiden, tbe bank 
ovine the appointment of its board's chief counsel said that a 


Trade sources estimate that in 


Wednesday in Amsterdam despite 
the group's announcement of the 
earnings drop. The slock closed at 
52.80 guilders, up from 48.80 guil- 
ders Tuesday. Dealers said the 


chief executive and any sales, or major capital infusion was hot 
securities. Officials of the bank .guaranteed. He.said it.was not dear 

l .j l ■ _l : j __ 1 :. .1 in r — — — n 


board, which provides a creditTe- 
serve for savings institutions, said 


derv Tuesday Dealers said the have diminished substantially, the directors would work up a de- 
Stakff'i.ws-S holds $3-5 billion w » biffion of .M fta far the 
i,_« bad loans and troubled real estate uon s structure. 


larger drop in profits. MU . " 

~7. 1 . , , , . prefects, including apartment and 

Philips said rales and income de- buildings and fast-food res- 

veloped favorably m turope m the bank board officials say. 

nine months but considerable im- ybe FSLIC is a government agency 
provemem in operating profit out- ib a i insures tbe safety of savings "m 


The new organization — first 
recommended to the bank board 
last spring — is to relieve the insur- 
ance corporation of the time-con- 


whether the 12 Holme Loan Banks 
could legally dip into their reserves 
for such an equity investment 
The insurance corporation, 
which has about 100 employees, 
has only 19 staff members assigned 
to liquidating its bad assets. Since 
the salaries of these government 
employees arc controlled, industry 


side tbe United States was insuffi- 
cient to compensate for the drop in 
results in the United States. 


that insures the safety of savings in suming job of selling hundreds of officials have complained that it is 
thrift institutions. pieces of real estate and collecting hard to get qualified personnel for 

Mr. Gray announced establish- thousands of delinquent loans. It the liquidating positions. The new 
ment of the new- institution, called could also be the source of a major unit will be able to hire any number 


Mexico Puts Curbs on the Peso to Arrest Free-Fall 


The Associated Press 

MEXICO CITY — Spurred by a 
plunge in the f fee-market value of 
the Mexican peso to a record low 
against the UJS. dollar, the central 
tank has announced restrictions on 
the buying and selling of pesos by 
foreign financial institutions. 

Private currency exchange 
bouses, which set their rates ac- 
cording to supply and demand, 
were offering 500 pesos for each 
U.S. dollar on Tuesday and de- 
manded 521 pesos for a dollar. 
Those rates represent a 35-percent 
decline in the value of the peso 
since tbe middle of September. 

The free market peso rate is used 


it inflation, strong government 
spending and a J96.4-billion for- 
eign debt. 

The nation’s limited resources 
are being further strained by tbe 
cost of rebuilding portions of the 
capital devastated by the Sept 19 
earthquake Preliminary estimates 
have put recons miction costs at 
more than S3 billion. 

The currency held at about 380 
pesos to tbe dollar for several 
weeks after the earthquake, but 
then began sliding. 

“People are worried about high - 
inflation and a high exchange rale 
and decided to shift to dollars to 
protect their wealth.” Mr. Tri- 


several thousand thrift executives 
at this week’s annual oanventioii of 
tbe United States League ol Sav- 
ings Institutions. 

As industry executives met, tberc 
mxxi wy naito ay .uph^^ 
industry is headed tofcaralligmost 
profitable year, in its history, no*, 
manly because loafer 
have produced a wide gap between 
what is paid for deposits and what 
is received on mortgages and other 
lending activities. 

But two issues seemed to loom 
heavily over the conventioneers: 
the future of the insurance cospora- 
tion and how to handle the 300 or 
so savings and loan associations 
that are hopelessly insolvent. 

Until the last month, “there was 
a feeling thar everyone should hand 
together and help work out the 
FSLICs problems,” said Gerald J. 
Levy, chairman of the Guaranty 
Smtings & Loan Association in 
Milwaukee and the league's next 


agerrt estunates to tutve agreea to 
bay a further 68j00dl metric tons 
from LME brokers and other 
sources. 

If the tin maritet reopens “with- 
out p re ria e histnictknr from the 
ITC,” he said m theiettet^a “chaw 
otic situation” could result than 
amid face the sate of 5,e0B Jo| 
T>5,000 metric tops of tin "atufistt-ri 
trousty low prices^ . 

Tin experts from the JO-nation 
European C om mun it y, ad ITC 
consumer membexsjhrve said that 
they would not commst themadves 
to meet Ac ITCs d p u tta g t d- 
mg until nt independent audit has - 
beeaconduaeA ITC delegates said 
final figares. fibm ah andh now 
bemg nndeindxn were not expect- 
ed iratri next week. 

■ Meanwhile tn Malaysia, the 
woritfs laipst tm producer, Datuk . 
K pMBt St n dtiqg Sdn Malyy- 
aas Smelting Chip, smd Wednes- 
day that they win resume physical 
tin rotes bqpnning Thursday at be- 


lnternational Monetary Fund speech in the next two weeks to c h ai rm a n . “But that is chang in g. . “J* 0 

about a new aid program to help it coincide with the formal presenta- The healthy institutions don’t want t i^ snowpncc. 


with its foreign debt. The outcome _ lions later this month of the 19S6 to be saddl e d mth the liabilities of 


or those talks is still unclear. 

■ Cabinet Shakeup Expected 


budget. Most independent -bank- the sick ones.* - 

ers. economists and diplomats be- - 

beve that the country's financial! 


■ B S kt S^£jS& ia ^A a uS f ~ ^tem will collapse unless strong 
mg that President Migud de la Ma- measuTK ^ takensoon. 


drid.is likely to take radical action 
soon — possibly including a cabi- 


J We are heading inexorably for a 


net reorganization — 10 bead off a balance-of-paymepts crisis unless 
developing economic crisis, Reu- he moves soon,” said a senior Euro- 
ters reported from Mexico City. pean diplomat and former banka - . 

The sources said that Mr. de la “The situation now is very serious 
Madrid will likely make a major indeed.” 


in tourism and for most private guerossaid. 
transactions. A second rate, regu- He said the government is under 
lated by the government for most pressure to print more money to 
commercial transactions, stood cover its costs, which would fuel an 
Tuesday at 322 pesos to the dollar inflation rate already expected to 


to buy and 323 to sell. 

Late Tuesday, the Banco de 


run more than 50 percent this year. 
Other analysts noted that Mexi- 


Mexico, the nation’s central bank, co is bolding discussions with the 

said it was setting restrictions on 

the operations of peso accounts by 

foreign financial institutions and niiTU K np puw HASH 
exchange bouses. 

The impact of the move was not 
immediately dear, but it likely was f V jf 

intended to try to give tbe govern- 
ment more control over the volatile ~ 

CU <£^? , ‘ i, K European Investment Bank 

Some exchange houses in the 0 * _ _ r 


a iud, apparently running low on 
ars, refused Tuesday to sell dol- 
lars to customers and were dealing 
only in travelers’ checks. 

Ignacio Trigueros. director of 
economic research at the Mexican 
Autonomous Institute of Technol- 
ogy. expressed surprise at Tues- 
day's plunge in the currency, but 
predicted that the peso will stay 
below the 500 level in coming 
weeks. 

Mexico is faced with double-dig- 


European Investment Bank 
8.25% Dollar Bonds of 1977. 
Due October 15, 1987 
Notice is hereby given to Bond- 
holders that during the twelve- 
month period endingOciober 15. 
1985 US $1,000,000 were pur- 
chased. The principal amountof 
Bonds remaining in. circulation 
on October 15. 1985 was LIS 
S£>.ooo.noo. 

EUROPEAN INVESTMENT HANK 
November T. IUSS 




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Selling Huge Quantity v 
NEW OILFIELD EQUIPMENT 

MOV. 13 & 14 

CONROE, TEXAS 

Skftop Brewster is Closing Mr 
Came ptotaod tras A-xBnulB 
feature Bntshtu preducs. plus a 
brge sefecftn at Parts and Sop- 
p6s. Skftop Brewster <s heap 
BMSofetrtad with me Geo. -B. Mb 
tag CD at En«, Ottefionw, and ft*- 
Oars pans and stnke w (B ba 
OHAttSlronttfccafton. - 

PARTIAL USTING: 

URTOED MB PIOS UE wM T2 <ZJBB Wl'i 
ftawmta. (*) 88752 «h mekn, BREE0. Utr a 
iff.NUMaltma'rimfeiMsta- 1 
fere, Ptatom . M SHT tteck Wd stnm task 
W ft * mm HHfe (MT s 1J9MM#. 

mjOBWItalJMUMMsmaqtegTslMtag- 
tai totin' im« me ur umma • 
to acme bm w iuh Ps nOsg»»» fV s ita M » 

(S) atTTOP BSBfSTBI DBUtima (3888 E, 0Q 
wir«. (j) n « stain »78) o senw Bnanm 

S Es^s i i rtw ol l > nnM i ft PX) 9BHM8C 8ta| 

pr. zr.sr. rtgrpiiwnansitam 
BE7SBMn mtas BBI«rniUS{tr. B-. 
a-vrstaw-i/r) .(181 smtH* bwwstw mud 
pimps (ssr*. nan. nan wt wa m 
sumsi oam n r» • w m an tAm 
(42) sxttw aiaas i M uca mb nom 
P5>T. 238T. 38KT. 4B8T mt mt) • (M) UtYTOP 
BBBMTBI 8 ONB SNSB2 |S8T Btt BOOT) • 
KM? 4-li7” MU WE *9t28#. W e Lags 
■>M» a^M tifeaajjM B a|j 1 | tata 
m • (14) smop MMnBI MUD POMP Ben 
bus • tie femco rum box • m iwtco 
mi Brum. MMR OMpm ssmo tut 
« WfA nsni -o DCSa HOBBS MB GBBU- 
TBB HMm aBKhvCMMCM tMtasg IpMb. 
Hum. b«"8i. «*. *.• BOB HOUSES • OTUIV 
mwa-MwnwtaSta4smsm8aiw»TCuat 


r SPECIAL — 

. •XVTDP BBBMTBI RE? AW WTS . 
Sprackatt. Goan. Burtop. Ursttz. 
Ftanget.rtclBrtatretaireBremcIltae. - 

EVERYTHING SELLS 

NO MINIMUM orRESEMATtOfr 
INSPECTION AFTER fiOV. 3rd 

CALL OR WRITE FOR BROCHURE 

Aeornwri InB ei na n miaC In c. 

8140 Watmit Hilt* Sutta 105 ' 
Oaflas.73t.ZH3l 

2147987-4884 
Tdoc G97-4S90MNKML 

ifeiOBUiTwr frueptmapm,: nstor-mt 


UMTH> STATES 
BANKRUPTCY COURT 
FpRTHESOUIHBtN 
DISTRICT OF ALABAMA 

Inna 

MAHON CORPORATtON 

Oekbtx CASE NO. 834X073 

OtDBt AND NOTICE 
. OFHEANNOON 
- D t S O OS UIB E STATBUBTT 

- . TO 1HE DGBTOA nSOSXTORS^ 
AM> OlHSt PARITES IN WTBtESTi - 

A HrteAnuodbd Chapter IT Plat bav- 

tng boon fifed on Ortabar 9. >785, vid a 
Dadtaura dcSaraoaf oaefer Ok^Ow U of 
Ito Marmtor Cads hawmgitean fifed me 
October 2% 1985, bf DNHor, Cradfem, 
SbardmUers and SkyMi Anarica, fee, it 
i» ardared and notias « horoby gfewi tfwt 
>■ .Tfe htasinu to oornxfer |fe ay 
protai of Dm Dhdaani Stofew a nl *aS 
baJMldctflaanSOA Udfed Stated Court 
ftajte,Mob^ AlabtetavonDgwobor 5, 

eqoonod bom Sam to trim by and m- 
•wwe»iw4 mad* 'at Room 306 at Nw 
*dw*Ad,tad 

2. Natetabta21.W85liWa.lfc. , 
fate daf far j^ng and taring ia ooew- . 

* *3017 MvrtWn abfec- i 

tjow » «ta rfadeaum amS dtefe I 

hmwiA die Coart omfiaroed an Ronaid ' 

P' Rim Mnntetnr g_7 , 


JooSz^-Doaotd 1 . Sown, Attomay far 
Bar* QwStan. PX). 8a> 2906. Mobfa. 
SWHf Internee 6. 

Onm. Matsfe, Alaboma 36609 
Jo hn torw^. A noraey far Subordtaoted 
Oucui iiUyt ^dta Ctataifetew. 70Q Wart lr. 

'"’9 Site A-1 ( l iia <lr . m, 


° wpt y 11 "oo h» oJZ*** 

putaOM to *5S 

hn. roqutatad 

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9™** 2025, P °- 


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I 




Page 12 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 7, 1985 


NYSE Most Actives 


Beatco 

VaL 

20795 

High Law 

44ft 43?] 

' Last Cti9- 

44>, + ', 


197S2 


131', 

132* 4 : : 

f=edNM 




72"-* + 

CAiat 

17154 

M* 

«X*1 

68* — 

AT&T 

17076 

21 

TO* 

20 V - ', 

PtHiAm 

16464 

9% 

BV, 

S* + '., 

AfflEn 

17443 


4a% 

47ft *1* 

TaxOGl 

12066 


IS* 

I, + 

Texlnl 





Tcmay 

10744 

38* 

37V 

38* - % 

ErtCoas 




44V + 

PllllPtS 

ItMla 

13U 

13 

13* 

Jofuun 

tons 

48* 

47% 

48ft 4- ft 

ITTCp 

rain 

3JU 

33% 

33* - ft 

HewIPb 

9543 

32* 

31ft 

37ft +!'+ 


Dow Jones Averages 


One* Hian low Lott CDs. 

Indus 1398 79 MI10! 1304.47 1404J4 + 7.57 

Trans fil.to * MW2 - *» 

UliT lAl Jh Ul.*a 15 3.73 X:I 

Como 544.1 1 571 J5 56tJ« 547-81 + 2il 


NYSE Index 


Previous Today 

HW Low Clue 4 PJM. 
ConiMalle >IIJ» MOJO 111.07 1(1.14 

mauunaJs mx 12444 177.20 isms 

Ti ansa. lOtos 105.14 >0t09 104.05 

Utilities 57.74 57.61 57.74 57.80 

Finance 119.44 118.71 I1U4 119.98 


[Dow Jones Bond Averages I 


Bonds 

U Ml I lies 

Industrials 


Prev. 

Clou 

SOJb 

78J2 

8L4I 


3532 

78.58 

S1S~ 


NYSE Diaries 


eroie Prev. 


Advanced 
Declined 
Unchanged 
Total issues 
New H-sns 
New lows 


*44 

443 

*51 

2043 

I1« 

:i 


934 

ua 

492 

zcrs 

i« 

Zt> 


Odd-Lot Trading in N.Y. 


Nav 5 

•43V ! 

Nov. T 
Os:. 31 


Oct 32 

'Included in (Me soles figure* 


But sales 
159-843 410.943 
170.298 443.702 
167 J95 4)9,602 

142.454 397,061 
15L390 407 J59 


•5h'rf 

9J47 

14790 

ISJ48 

14,707 

>4414 


Wednesday 

MSE 

Closing 


Vol at 3 PJrt 104174090 

Prev. 3 PAL vpl 94470000 

Prev amsoiidoled cwse MUttB70 


Tables include the nationwide prices 
up la the closing on Walt Street and 
do not reflect late trades eloewtrare. 
I'ia The -hfori/ued Prvsf 


AMEX Diaries 


Close Prev. 


Advanced 
Declined 
unchanged 
Total Issues 
New Hiahs 
New Laws 


306 

267 

257 

B3Q 

19 

7 


W 

23! 

745 

U 

12 


MASDAQ index 


Composite 

Industrials 

Finance 

Utilities 

Banks 


Week I* 0 ' 

Omi Noon *» 

7WZS 2*U6 2*1.17 

295.74 296.49 292A3 

39Z» - “"1 

361 <2 — 

JMJ* - 3 '|*§ 

26476 — 34535 


2505* 

270*7 

390*4 

77536 

231.15 

22007 

3*110 


standard & Poor's Index 


industrials 

TranSD. 

UHUtto* 

Finance 

Camooslle 


High 

Prevloui 

Low Close 

Today 

3 PJVL 

mra 

ZIZIO 

213+4 

21349 

17A07 

17112 

17194 

I7A46 

B4J9 

8AdT 

6484 

85 J8 

2151 

72.94 

nil 

2331 

192J3 

190.99 

19137 

192J0 


AMEX Soles ] 


3 PM volume 
pr*v. 3 PM valufPF 
Pnrv. cons, volume 


9.170000 

T3XLOOO 

9,1004X0 


i AMEX AAost Actives; 


VOL 


[90S 

Mill 


Htt ue UK CM- * 




AMtnK 


wwon art am 

JBlT 19V. 
3049 1 

3X1 Sib 
W7S m 

>520 374 
1714 U 
U9* m* 
Ufa 4 

tm 1* 

IS* We 

ms H* 
tan im 


Storfttn 

Wtckts 

Man** 

OomPd 

wwi 

Dummu 

OrarH 

OwrkH 

Knot! 

Ox&eF 


1% 

4b 

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T9 

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;r* 

n 

1% 

U% 

Mb 

a 


r- * 

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32** + V» 
Wta *■ * 
7 * >m 

5 — 3 % 

30 4 * 

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171b * 1* 

J* — 
f* + 
14% 

15 + in 

Wi + % 



it Month 
Hlgfl Low Slodi 


Sis. C«K* I 

h?Ji M,ja L3» 3v9(Cr«9| 


16 AAR 


15 

83 

2j 

22 % 

9* AGS 


13 

16.' 



29V AMR 


7 

9315 

43' J 

39'., 

19 ANRpf 

112 105 


1 

TO 1 , 

Mft 

7% APL 



161 



32V ASA 



iS» 

35* 

3*’, 


32 Z9 


304 

IV-A 


l«ft AZP 

Z77 10.9 

7 

1305 

25* i 



U0 ZJ 

16 

3*57 

49% 

sav 



1? 

273 

ZJ 


11% AcmeC 

AO 3.6 


#A 

11 = 3 



_32> U 
1.72e10.9 

ao za 


72 

13* 


lOHi 7 AcmeE 

19 15% AdoEx 

20 1317 AJmMI 

Mb 8* AdvSvi 
Wt 221 b AMD 
live 1<M Adobe n 
15% 14% AdoDpfA 
16% IS'* Adob DIB 
17% 6b Advert 
1414 9 Aerfle, 

53 3431 AetnU 

U* S3v. AetLpf 

3me 22% Ajuthu 

3H 2V: AUeen 

57 441] Air Prd 

74% 17% AlrbFrt _ 

33X4 29% AlaP of A 3.92 IZ7 

846 4*4 AldPOPt S7 10* 

82 66% AlaP pi 9JM IU 

76*1 60 AMP p! 

26*9 12*4 AlskAir 
244. 12% Albrta s 
33% 26*4 Albtsns 
31% 22% Alcan 
38b 77% AJcoSId 
32 21 AlexAlx 100 

30 20% Ale«dr 


3 J‘* + 
9 b + 


22"l v 
ll'j — 


II 


NYSE Higher in Active Trading 


B9V4 72% AJIoCp 1541 14 21 
26% 24% AJsCd of 186 10.7 
28% 20% Ala Hit 1.40 Sjt 
30*4 lib Alplnof 219 11 J 
98 8S% AlolpfC 1125 11.9 

34% 28% AlldPw 3.30 SA 9 
34 16% Allen G 60b 36 13 

23% IS*. AJIdPd 12 

45 42 AldSonn 1J0 4.1 « 

66V: 62 Ald5DtA 412 64 
63 50% AWS cfC 6J4 1U 

ill 10S AldS ctD13JB WS 
103 101% AidS PtF 

61 47% AlldSIr 220 36 

tVt 3% AllisOl 
34b 24 AllsCDf 
30% 22% ALLTL I «6 6.6 
39b 79% Alcoa 
19% io<a Ama« 


17% 17*4 :~<s 
8 9 19% 19% 19% — .■ 

IS3t 3 & 70 103 14% I3»» 14% * % 

14 9092 24% 23*1 34*1 J -t ** 
2*8 i: ia r j io’b 

54 U'S 14% 14*1 
249 14=1 16'1 14% + » 
1J 14 116 9% 9‘; 9% 

13 114 14% 14 14% + % 

u U II 2788 51% 50*1 51! » 

SAle «J 154 56*1 56 54% % 

1J0 32 6 4=4 3T, 33^ 

1.48 27 12 14)6 55% 54% 55 

10 11 68 19% 19% 19% -r *s 

14 31 33-% 30% — i 

4? 8 7-, a 

toc: sc 8Q re — 

73 - 72% 7 T.] 

1*51 70'-. X n>% — % 

363 29 77% 37% Ti 1 , 

.. 275 79% >%- % 

32 43 3776 75 . 24% 25% T 

^2 34% 34 34% T % 

1062 IT 7 JCV) 20*« — % 

37 27% 37% 27 1 j - % j 

36 33, 8C : ( S3, +2*9 i 

t ^*1 24*» ZS*a + 9 I 

314 2Sl» 24'-: 34%—% 

4 13% 18% 18% 

£ 94% 94% 94% ~ *e 

492 32 - : 31% 32 

1® 23 22% 71 + W ! 

re 19 ie% ;j%— >1 

3355 +4% <3% *3% — 


NEW YORK — Pncss or ihe New York 
Stock Exchange were higher Ime WetJnesdn* in 
active trading. 

The Dow Jones industrial c\ erase was up 
j.34 to I.3 c 7.C'l an hour before :he dose. Ad- 
vances led declines by a ratio. Volume 
aos I0“R million share?, down from 1 1*2 mil- 
lion in the same period Tuesday 


.17 


828 114 
.16 J 
JB 
J6 
JO 

,JB S' 2 

IS 


Price? were higher m active trading of Amen- analysts in Scotland that IBM is expected to 


14 X 

15 12 


can Stock Exchange issues. 

Manin Kau: of Sanford C. Berr. stein said 
that the market would cotuinue to move higher. 

AlihtfusK prees :n tobies m these pos.es ore front 
the t P M. close in Alt/ York, for time reasons, 
tiiis jrttcie is boseJ on the merke: a: » P. M. . 


"If the Dow doesn't dose j; I.4u» Vkednes* 
jjv. ii will bv 'he esJ of rhe week." Mr. Katz 


.aid. 

Mr. Katz sjid ihat the investment public is 
•us; starting to get interested ir. buying > locks. B-*nL recommended purchase of several semi- 
He SJid !e\ crazed buyouts and “merger mania'* conductor issues. 


the 


79 Amoxpf 3.00 105 


38 _ 

34 23% Amhes 1.10 

2% 14* AmAsr 

25% 16 ASokr 

70 53'L ABrond X*0 45 

30h 25% ABrdpf 275 «.t 

70% 54% ABrdol 267 4J 

118** 56H: ABdCrt IJ0 U 70 

30V* 2B'<i ABIdM £b 37 14 

78Vi 20** ABinPr M 23 

40% 47% Am COM 190 47 

25% 23% A Con of ISO 11.4 

52*» 42 A Con Of 3.00 Sj 

21 ta IB ACapBd 3.30 104 


1 104% 134% 104% — 
21C 1C2-.; 122% 122% - % 

8 7918 63 40V; *T*v ,2% 

472 3% 2% Jn— *9 

17 29- — % 

9 77 29% 37 % 29" s 

iao 14 31 ^ 33*5 33 3Ta * % 

.101 683 !1 10% 10% 


-how that business already adders: 

* l fn\ 53% SSnl- % S ialue of corporate a.-;is. 

Mr. Katz rolled market leader.imp “broad- 
?ased" and said that momentary weakness in 
some sectors frequently is just the result of 
profit-taking in areas that nave had strong up- 
ward moves. 

Harry Yillsc of Suiro A; Co. in San Francisco 
fn 25% ii— ** 1 said that the .market still is undervalued. He said 
^ a% 2®% r- s + : I f hat after the Dow rrxnes above 1.400. the 
4 i :ih; iij : : ,fl4 + l3 • market might back off a iinie. But he added that 
a, ? y» I it would resume its upward move and hit 
is iT* 531* 4?% *3 ' .“iv the end of the xear. 

19 ^1* 24% 24% • 

i*5 ' 


II 2«% Id, 


17 24 2679 y, re% 29** — 
238 1% 1*9 T-S + 

10 *" 

8 


ST 


30% 25% ACaoCv 151 e 7J 
11 5** ACenlC 

57** 441* ACvan 
29% 19% ADT 
2*1* W?* AEIPw 
49** 34% AmExe 
27% 14'* AFantl s 
36% 23H AGnCn 
16 B AGfil wt 
54% 52 AGfllpfA5A4ClC.l 
71% 47% AGn ofD la4 4.1 
13** 7 V* A Holst 
447* 48 AWqrrw 190 
48!* 36% AHmp 1.12 
97 1 * 73 AmiTcn 4J0 
94% 63 AlnGrp .44 
155 114 AIGopf 5JS 
28** 16 AMI 72 
4<s 2% AmMol 
3* 13% APrnd % JO 

13% 5 ASLFIO 13 

18VS 121- ASLFI of 119 13^ 
15** 11V* ASn.o JO 67 8 
35** 26% AmSttJ 14 o 53 10 
67v* 35** AmSIOT 44 1.0 12 
78 46% A5tr pf A 4J8 M 

58** 51 AStrotB 6J3 11J 
24** 18 AT&T 1.20 is 
41** 33 AT&T pf 1*4 (LB 
42 34 AT&T pf 174 8.9 

27% 17 AWolrs IjM 15 
13% 10 AWalpf 1iS 10.3 
■V*l 14 AmHott 230 115 
5*4 8.1 


54 

21 % 


+2*t 

+ *s 


12 


72Ht 61% ATrpr 
18 4ta ATrsc 
89% 69 ATrim 5*4 
44% 2*VS Ameron 140 

50 2414 AmwD 70 

23i* 22V* AmeO wl 

391* 19% Ameiek J» 

28** 18V* Arrtfac 

16 2** Amfesc 

70% 50% Amoco 1300 5j0 
371* 27VS AMP 
32** 11V* Amoco 
23** 12** Amrnp 
37** 32% Am51ti 
46** 31% AmsrM 
4% 1** Anacma 

341* 16% An loo 
27** 19% Anchor 
46% 31** AnClov 
14 944 AndrGr 

77% 17 AnoellC 

39** 23% Anheuss JO 

78 52 Aniiou Pi 160 

19% 1JV5 Anlxlr 78 14 18 1009 

16% 10 Anthem JO* J 23 504 

15V* 10% Anttmv 44b 13 B 

13V* 91* Apache 7* 24 II 

3 V* ApchPwt 

199* 15V* ApcflP Uffl.10 105 
74% 60**ApPwpf 8.12 114 
26 32V* AoPwpf 245 102 

34% 30% ApPwpf 4.18 128 

31V* 28 ApPwpf 180 I2J 

39V* 15% ApIDto 1761 08 35 

15V* 8V* AppIMfl 

24% 16% ArchDn 

31V* 26% ArlPpf 

24% M ArkBit 


34% 16 Arfcla 

% % ArlnCD 

15% 11% Armada 
11% 6% Armco 

23% 151* Armcof 2.10 107 
Ml* I3M ArmsRb 48 34 
3** 28% AnnWIn 170 ' 
34% 23% AraCo 170 
18% 11% AnmE 70 
»% is Arrra 72 
27** 16% Arvlns BO 
64% 40V* Arvlnof ZOO 
27% 16% Asorco 
37 23% ArtilOil 140 

46 379* AshIO pf 4_50 

44% 35 AshIO Pf 376 


54 

135 31 -. Jl 

a an 

57 5% 5*a 5'-: 

1.90 15 IS 15G» 53*3 S3 S3'* 

.92 H a US5 79'-. z* i 2«-.: + H 

276 im 9 ij99 r*» r r — ■« 

06 19 15 12*43 47, 4s T 47, +11* 

48 O 14 3573 3% ™» 271*—:, 

UM It 9 313 E+* 31-4 33% -r V: 

jx: it* 3 it- s ;;»*-+■, 
51 ST- 55% 55% — •, 
23 4S 64 64% 4- % 

43 «»* 91* 9',-., 

5.C 17 3364x 55 : 5T* £8V* 

14 16 9349 47 46': 47- + % 
*.9 9 161* 95% 95-* US'.j— =.J 
J 3* 1079 94 j Cj.J 94'] 4* 

17 IS 55T ISST-s 1S7 +2 

17 10 19*3 |9.‘, 59:; 191,— '] 
944 2*9 2% 2% 

rs ir* is** is**- % 

3fi6 B% 3 S', + ■* 

» 1» S 16'- 16% + <i 
S3 1193 11% ;iV»-'.v 
634 35*] M'a 32'i- '» 
463 66% 64-.J 65V] +!', 

105 7* 74% 75.] +1 

a sa msn* • 

U 1517077 21 20** 23%- % 

340 41*S 40% 41': + »] 

341 41-* 41*, 411* ■+• V* 

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1210: 17*, 12'* SZ-t * >■ 

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5M 47H 46'] 47=] +1 

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12 16 183 2S% 24*, 25’, -f % 

453 ZTi 33 7 * ZB* % 
405 3 2% 3 + ', 

M57 66% 66% 664] 

.72 22 28 3497 32% 32 32V: T ** 

JO 14 IS 21 12 •: 12** 12*a 

II 20 22V* 23' « 72'.— U 

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36 2D-. 20', 20*i - 

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307 44% 44>* 44% — , 

102 13% 13% 13% 

40 25% 24i* 25.1 + % 

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74 + % 

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13** 13% 13% 

12 11% 11% 

IV, I 1 

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650: 74 71% 74 -H*t 

2 a 36 26 + % 

3 33** 32** 32** + % 

1 30% 30*1 30** 

238 21's 20 20 -IV* 

.. 59 13 13 13 

13 5562 2J 7 * 22% 23 +1* 

„ ID 30'] 30 30 — •: 

’ 115 26% 26% 26** + l» 

22 1429 20** 19** 19J* — ■. 

140 \ + 

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1077 BT* 8% 8»* + 1 

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29 ]4% 34% 34% 

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SX! 16', 15* 16 — 1, 

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3H« 25% Br.BSI 1.60 5 7 13 7* 

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4*, 2*] EriiLne 

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a% 22 0rtT2 3 p 

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24 19% BrlS 31 

52 47*] BHWOI 

18% 9*] Bumdv 

68 52 Burrah 

3J»] II Bjl’rin 

S*i I Burin 

ir» 2 3uf«pf 1051 


nta 13% 

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2.1a 117 


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140 

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S.lCelCZ 
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Z60 4J 51 
52 3.7 17 


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1653 

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20% 29*] y.- '] 
19 76 18 

IS': 19': 

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252 

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120** 79 AsdOpf i7j 
23V* 16% Alhlane 140 
29% 23% AtCvEI 258 
67V* 42 All Rich uu 
1*0% 100** AtIRcpf ZOO 
17% lOVi AtlasCp 
29V* 18% A nodi 40 1 J 26 

S6% 351* AutoOl M 13 " 
5% 4% Avalon n J»o Id 

3«* T7V| AVEMC M 13 IS 
39*» 28% Avery ----- 
3«W 10 Avlall 
38% 27 Avnrt 
» 171* Avon 

28** 16V* Avdin 


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14 119** 119 119 +-^ 

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166 28% 3*] 281*- 

5648 64** 43-1* 631* — % 

9 1541*154 154% —l 
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100 M !? ^ ^ ^ 


8 


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189* 15 Bkrlnfl 
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IS** 11V* BallvMf Jo 
111* 7** BallvPk 
23% 18% BHGEs 1.70 

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62 48% Bandas 130 23 12 

55% 38% BABM 140 43 5 
54% 49% BkBpfB 39e 13 
56% 49 BkNE dpSJ9e 93 
47% 31% BkNY 238 5.1 7 

33% 21% BonkVa 1.12 4.1 8 
22% 12% BnkAm S3 54 
47 39** BkAm pf 431a I ZJ 

74% 61% BkAm pf 7J3,1Z6 
16% 13% BkAm pf 2J8 
32% 26% BkARtV 240 SA 12 
75% 512* Bank Tr 2JD 4.1 6 
27 2116 BkTrpf 250 94 

46% 35» BkTrof 432 93 

15% 9% Banner 33a 3 

39% 19 Berd 56 15 

25 19% BomGp 50 35 16 
41% 25% Barnet * IJM 23 11 


■121 4QS 7% 7 71* + 

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show “some strong growth” in the fourth quar- 
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may be announced Nov. 1 8. 

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and Advanced Micro Devices, were ail higher. 
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14 7V» Seqrtil ZOi 23 133 7% 7V. Tu 

Hft 14% Gek» -..J6 11 II 115 18 17*# 17ft 4 % 

12ft 9% GemilC 341 10% 10ft 10ft + % 

12% l> Garr.ll I JOe 5J 121 11% 117+ lift 

63ft 31% GnCorp l_fOb ZA 36 4247 63% 61% 63% 42 

1ST, 14% GAInv )A3e 9.1 27 ir* 17% 17ft 4 ft 

59 31% GaBdrti IJM IJ 12 74 59% 59 59% + V* 

39% a% OC nm 50 lj II 3a 35% 33% 35 — % 

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20% 7% GnDafa 15 333 11 10% 10% — % 

13% 9ft GfiDev n 156 10% 10% 10% 4 l] 

3% 2ft GnOev wt, 62 3% 2% 2% + ft 

84 62 GnDyn IJM 15 7 1091 64% 63*# 63*#— ft 

o5ft 53 GenEI 2J0 16 12 4894 61% 60% 61ft 4 ft 

9+ 4*. GnHme 15 216 5 4% 5 4 ft 

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22*' .1? 5 n ”°V» ZA 21 9ft 9% 9% 

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65ft m. GrtMIfls Z24b 35 1912 64ft 63% 64 — % 

571+ 52 GAAlliwI 111 57% 56% 56ft — % 

85 64ft GMot SJOr 7J 617153 68% 68% Oft— 1# 

46% 16’.] GMtr E JK3 .1 - 367 39X. 38*i 39V* — ft 

43*# 36 GMol Pf 375 93 42 40ft 39ft aft + % 

58'+ 47% GMol pf 5.00 9.4 2 53 52% S3 4 % 

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21ft 17ft lOwaEI 1.90 ?J 11 

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23ft 18 iawUlPf 2J1 105 

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40% 28% IrvBnk 1.96 50 7 

53*# 44 IrvBkpf 4J4e 8J 


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71 MW 106 104 41% , 

159 40% 39% 39% + V# 
293 21% 21ft 21% 

78 20% 2tP* 2B% + % | 
122 9% 9% 9*6—*# 

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39 32ft 31% 32 — ft 
300: 22 22 22 +** 

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155 35* 38ft 38%—% 
68 53ft 53% 53ft 41% 


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56% 25% MCA* 

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18% 11% MGMGr Jl. ZS 36 
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65% 51 JerCpf 7JB 123 

106 91ft JerC pf 13J0 T2J 
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181# 14*# JerCpf 2,18 I2J 
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46W 38% JnhnCn 
54*6 50% JfmCpt 
27*# 21% Joroen 
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349 34% 341# 3416- ft 

184 19% 19 19% 4 ft 

143 12ft 12 12 — - 

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2710: 78 78 78 42 

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1J0 AS 18 19 23% 23ft 23ft— ft 

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19V, Wft TtonrCi -.11 J 22 
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38% 25% MarMfd 1 JO 5L2 7 
53% 42 MarM pf 4J7* 9.1 
42% 19 Marfan* JS J 39 
11% 8*# MarfcC 32 10 
WO. 70 Marriof J4 J 17 
79% 50% MrakM 2J8 3L5 M 
44% 26% MertMs IJM 3J 
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33 1835 53% 51ft S2*k 4 ft 

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367 I7*t 17ft 17ft 
314 25% 25ft 25% 4 V* 
13 9ft 9ft m 4 ft 
389 7% 7ft 7ft— % 

' lift E 


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65 *4% 64ft— ft 

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*16 Oft Oft 48ft 

J 3ft 3ft 3ft- ft 
378 151# 14% 14% 4 ft 
WO 13ft 12ft 13*#— ft 
169 17ft 17ft 17*.— V* 

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<22 54 53% 54 4ft 

213 48% 48% 48% 4 ft. 

814 5% 5ft 5ft— %J f 

29 17ft 16ft 16%— ft*,’ 
3W 35V, 35ft 35% T ' 
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190 % % % 

95 34% 34% 4 ft 

220 53% 33% 53% 

370 42V# 40% 41*# 411# 

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359 9 9*fc 98 98%— IV# 

634 79ft 77% 77ft— 1% 

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14 KM 13% 13*# 13ft 


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290 2** 2ft 2ft 

32 29ft 291# 29ft— ft 

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264 57% 57ft 57** + % 

623 15 W% 14*#— % 

160 11% 10*# HB4— %' 

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36% 23% GaPwpf 3JM 11J 
30ft 3ft GaPwpf Xta 120 
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366 31ft 30X# 3| — ft 

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130 28% 28% 28% + % 
23 29% 29% 29% + % 
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9 26% 26** 26% — % 
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194* 9% KcbtGE 1.18 9J 

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115 33% Kafvof 

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140 A3 10 2293 32ft 32ft 32% + ft 

633 14ft 13*# 13ft— *6 

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930 8% 8*4 1% 4 V# 

717 22ft 22 22% — % 

TO 19ft 19ft 191# 4 ft 
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966 12% 17% 12*#— % 
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1200 15 14ft 15 

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28 10 9% 10 

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408 35% 34% 35 — % 


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2X1 T4 1358 34 33% 33% — % 

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132 10ft ID 10 — % 
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416 14% 14ft 14% 4 % 
793 44 45% 46 ' + ft 

76 .18 17% 18 ' 

131 37ft 39 39% — ft 

56 19% 19% 19ft— ft 


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820 91# 9% 9% 

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493 38% 37* 37*—**. 
132 24* 24% 24ft •' ' 
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21% U Gultbfl JO Z9 IB 


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16 33** 33% 33%+% 
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145 1% 1% 1%- % 

104 17* 16* 16%—]% 
546 18% T7¥j 18%— % 

57 24* 24ft 24ft— % 

171 74 23% 23%— % 

85 22% 21% 21*— ft 

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U B 365 57ft 56* ST 4% 

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317 57% 56ft 56% — % 
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:1 










• .- 1407- 

-•"36 *aK t 

k! ij? c ’ » ' 
"Cru. ST? 


INTERNATIONAL HERALD TRIBl NE, THURSDAY. NOVEMBER 7. 1985 


m 


** ^ a t: ROUNDUP ■ 




||h;fBM-Jbbqp»ecte 

iJbt S '5 S wi TV^Hooftw./p^j, 

* <4 $ GREENOCK, Scotland - To _ 
l, leraarional Business Machines 
C'orp. expects to show “some 
ara^gwili B in the fourth quar- 
'^JgvN ter of 1985.: John F. Akers, uS?* 
president and chief executive, said 
Wednesday, 

s *, ' Mr- Akers did not give any pro- 
i jections for founh-quaner profits 
in Ms speech to financial analysts. 

I IBM executives said earlier this 
N yanbaitxy expected profits for 
all of 1985 to exceed those of 1984, 
> arid the company has not badied 
> off from that prediction even 

though fourth-quarter profits 

J JL 



rowdi in Period 


w^ikl have to jump 25 percent to 
achieve the goal after duecquarters 
of declines. \ 

. “With hsbc fflMpcratkHi from 
*e U5. economy —particularly in 
uw pace of capital spending — we 
atould show someiitHjM growth in 
ute fourth quanar," Mr. Akers 
wid-.The weakening of the dollar 
shook! afeo hefo be okL . 

IBMplanstocpt temporarily the 
Qtitpul of personal computers at its 
plant here, from whi c h ft supplies 
Europe, because of .an anticipated 
seasonal downturn in sales in the 
first three months of 198$, the com- 
pany confinned Wednesday. 


This w* IBM cut, the price of 
several of its. PCs by 15 percent on 
avenge in Europe. - 

IBM. the world's largest comput- 
er maker, said it exports sdcs of 
PCs in die first quarter of 19116 to 
be above those of the like >enr- 
eariier period and slid production 
for the year as a whole will not be 
affected ouch. 

Although sonic analysts drew the 
conclusion that the cutback indi- 
cate that there are excessive inven- 
tories of PCs. (he company' said. 
“We are not dissatisfied with our 
inventory position.’' - 


ssNeve 


- V-'' 


The Associated Prm 

■ PITTSBURGH — Rockwell In- 

. lemational Corp„ builder of the 

N ^3 ace sh a ale and the B- IB bomber, 

reported Wednesday a 20-perceut 
boost in annual profits to a record 
S595.3 Bullion on sales that rose 22 
percent .to a record SI U billion. 

-Earn ing s per share rose 23 per- 
cent in ihe fiscal year that 
Sept. 30 to S4 from $3.25 in the 
1984 fiscal year, the company said. 
Net income in 1984 was 5496.5 
i million on sales of 59 3 billion. 

■ The company said its electronics 
i sales and earnings increases mainl y 
reflected improved volume and 
l performance in the avionics and 
WMecorn muni cations businesses 


f c Profit Increase 


and the . inclusion of $1 .7-biBion 
acquisition of Aflen-BMdley Co., 
which specialized on industrial, 
automation markets.. 

Aerospace operating earnings 
yere up 24 percent to>4918 md- 
. lion from S397.7 million in I9S4, 
largely | because -of continued 
growth in the B-lB bomber pro- 
gram, company officials said.' 

The fiscal year marked the 10th 
consecutive year of «rnTn g c in- 
creases for the Kttsbuigh-bssed 
aerospace, dectronks, automation 
and vehicle pans manufacturer. 

Rockwell last week pleaded 
guilty to federal c riminal charg e 
that it overtuOed the U.S Air Force 
for spare parts for an airborne mili- 


tary command center. The air force 
moved to bar the company from 

receiving future Pentagon con- 
tracts, but it was unclear bow long 
any ban would remain in effect. 

Fourth-quarter profits rose 
slightly to $ 140 million, or 94 cents 
per share, compared with 5139 mil- 
lion. or 93 cents per share, in ihe 
previous year Sales (or the compa- 
rable periods rose 23 percent to 
53.2 billion from S2.6 billion. 

The company reported a record 
backlog of orders, including un- 
funded government orders, of 
S14.n billion as of Sept. 30. com- 
pared with S10.2 btllioo a year ear- 
lier. 


JAL Experts Net 
To Drop Sharply 
Because of Crash 

/in-ii ln$crmnuaKi! 

TOKYO — Japan Air Lines, 
the nation's troubled flag carri- 
er. reported on Wednesday a 
10-percent increase in current 
profit for the first half of 1985 
but said the crash of a juir.bojet 
Aug. 12 in which 520 people 
were tilled would hurt it severe- 
ly in the second half 

Although ihe results for the 
first half of the 1985 fiscal year 
from April 1 to Sept. 1 were 
encouraging. JaL acknowl- 
edged a sharp drop in domestic 
passenger traffic after the crash, 
the worst single-plane accident 
in avuuon history, and said it 

had not ye: accounted for ns 
crash-related expenses, which 
occurred near the end of the 
period. 

JAL said its first half current 
profit was $97 million, up 10 
percent from SKS million in the 
first half of 1984. But it slashed 
its estimate of full- year profit, 
estimating that it would end fis- 
cal I9S5 next March with only a 
S32-miUion profit. 

"It is feared that domestic 
traffic will drop sharply from 
the first half and the interna- 
tional traffic growth rate is 
slowing down." the airline said. 


Chinese Atom Plant Talks to Resume 


Bt Dir*.ii; Lee 

Inierfi. ii. js.> lie:-'-* 7>. .‘•jh, 

HONG KONG — The stalled 
cefifttuuioha hetweer. China one 
foreign suppliers to U~v- Daya Bay 

nuclear- power plan: the ^laT.- 
Lmd's largo; fereigr. v:-:--.er.:jre 
project to date, wtl: rcvjrr.r early 
next week in ojcc-.rcir.s :•■> 

sources at China Li#h.: & P^e: 
Cu. 

China Lent & Pd-j-ct. _ H.og 
Kong utility. i> a 25-^rcr:;*. 
ner m the Guanadcrg M Linear 
Power Joint Venture Cc.. t'c-rned 
by the Chinese ir. mid- :obaiid 
the S3.S-biI!:oc. i.vXi-meaawai: 
facility in southern China near Lie 
border with Hong Kcng. When 

completed in 199!. the rLu--.: is :o 
sell 70 pcrcen; of its cutpu: :o 
Hong Kong. 

The company lor.g c^pet^j to 
supply turbine genercu General 
Electric Co. of Br-.Lur.. withdrew 
from the ralks in the :a-t week of 
Oaober after discussiozs with Beij- 
ing had rsac.ied a suiie- 

mate over prices. The GEC team 
returned :o Europe, as did the 
French utility. E!ec:ricite de 
France, leaving turgoLators for the 
French nuclear-reactor manufac- 
turer, Framatome. *.o oostraue 
alone with talks. 

Framatome official!) have been 
discussing the Da;. a Bay project 
with the Chinese for a: leas: iree 
years, and ex:ead=d !h*r Mt-hsd- 
tiled stay in Beijuig twice ir. effons 


io reach some kind of compromise. 

The sources said GEC hat. now 
agreed to send representative* back 
to Chana early next week for fur- 
ther talks The sources were unabie 
io confirm earlier reports ihai the 
Chinese were seeking cuts of up to 
2? percent off queued prices on the 
foreign technology. 

The L>aya Bj> project carrtri lm- 
porrant p^hticii] and commerua! 
ovenor.es for both Britain and Chi- 
na at a lime when mutual voopera- 
;ion is cracial durinc the 32-ycar 
transition to 1997. when sovereign- 
ty over Hung Kong reverts to Beij- 
ing. 

Sir Peter Blaker. a long-time 
spokesman on Hong Kong inter- 
ests m the British Parliament, re- 
cently said: "This is a hie project. 
Ifs important for GEC and for 
Britain. If GEC were to get estab- 
lished at Day a Bay. they might then 
be able ;o move on the contracts sn 
other parts of the world.” 

China Light & Power, a !ong- 
-rime partner of GEC. is believed 
so have brought GEC and Frama- 
tome together for the project, al- 
though GEC has jitile experience in 

Swiss Inflation Rate Drop 

The ln.,vii:rJ I’n-s-. 

BERN — Tne annual mfiauon 
rate in Switzerland uas 5 percent in 
Ocuiber. down from 3.3 percent ihe 
month before, ihe Swiss govern- 
iriem announced Wednesdav. 


huiidir.g the type of generators re- 
quired in Day a Bay 

Apart from seeking lower prices 
on equipment, the Chinese have 
asked for consider a We concessions 
on financing, including l.*ans ,u 
very low raies of interest. Hong 
Kong dollar financing, and reduc- 
tion of the premium required by 
Bntoir.'s Export Credit Guarantee 
Deponmem. C.B. Benjamin. Bnt- 
ish under-secreturv of trade and 
industry. recent)*, sud that many of 
the Bank «<f China's requests were 
not permitted under a consensus 
readied by the Organizainm for 
Economic Ci**perjiiun and Devel- 
.-ipment. 

The sources at China Light *fc 
Power said that “only Framalome 
and GEC have been seriously 
lofiked into." as suppliers for Dava 
Buy. 

S'eseriheless. Ix-l May. the dep- 
uty genera! manager of Guangdong 
Nuclear Power Joint Venture Co.' 
Zan ^unlonc. warned that China 
could still turn to other manufac- 
turers if it failed to obtain the 
pr~rt.es and sc*ft loans it seeks. 

New ahenuines ha\e recently 
opened up for ihe Chinese side, 
should the British negotiators drop 
i*ut again. Separate agreements re- 
cently reached between China and 
both the E'niicd States and Japan 
on nuclear safeguards now enable 
Japanese and .American nuclear- 
supply companies to enter ihe com- 
petition for China', ambitious nu- 
clear program on an official basis. 


Premium Income, 
Claims Rise in 
West Germany 


COLOGNE. West Germany 
— Insurers evpec; premium in- 
come to increase 5.5 percent 
this year, mostly bevau.se of ui- 
c rcases in the automobile sec- 
tor. the Wot German insurance 
industry association said 
Wednesday. 

But the group's annual report 
also said that claims were nsing. 
leading to losses on insurance 
business for many compameb 
thai would have u* covered 
by investment earnings. 

The group expects income to 
reach about 108 billion Deut- 
sche marks i.S413h billion i this 
year. It said that higher rates 
and a 2.5-percent rise m the 
number of cars pushed car in- 
surance premiums up 10 per- 
cent in 1985. 

Accident, residential proper- 
ty and credit insurance sectors 
also are showing above-average 
premium growth, ihe associa- 
tion said, income from life in- 
surance premiums are expected 
to rise 4 percent to 5 percent to 
almost 40 billion DM. 

Claim paymenrs and provi- 
sions ore likely to be greater 
than 100 billion DM (his year, 
taking* at least 97 percent of 
income. 


^ (More Losses Forecast 
For U.K. Defense Firms 


By Alan Eisner 

Reuters 

LONDON — British defense- 


ihat Mrs. Thatcher’s lobbying bad 
embarrassed the White House and 
risked causing iB-Teding within the 


O J cdrnmunicauons manufacturers Western Alliance, 
l * _ V^UjQ faced Wednesday the possible loss Mb. Thatcher reportedly wrote 

3 of valuable overseas sales following directly to President Ronald Rea- 

thc U5. Army's decision to award 8*° lasI August, arguing that the 


Pfessey group should be awarded 
the contract because Britain was a 
better ally to Washington than 
France. 

Her government has supported 


^ a muIubnEon-dollar contract to a f^ssey group should be awarded 

French- American consortium, mil- die coniraa because Britain was a 
i (ary analysts said. better ally to Washington than 

AeSaSwtob St Her governmon has supported 

— -^system from tSlJA-French team ^ FnuV * 

•a as a resounding defeat for Prime , Ik- i i c 

i Minister Margaret Thatcher, who , Last sec ‘ 

personaHv hadfobbied on behalf of Cas P ar Weinberger, rc- 

m s £ Britidi-American team. iff < L££? m B J 1 ^ n 

< m i.\ „ , , JU-Mhon stake m the Strategic 

^S»ttl The C0 5H2J :t ^ awarded to Defense Initiative, the so^aUed 
. .. » ia uvr.Htomson-CSF, which is owned by fstar wars" pt*n 
: r no, sjv. J jd\e French govennneni, and GTE Denis Healey, foreign-affairs 


has opposed it. 

Last week, the ILS. defense sec- 
retary. Caspar W. Weinberger, re- 
fused to grant Britain a guaranteed 
5U-bQHon stake in the Strategic 




:‘VC: v ‘ ' j 


• -< • >> 




i t > • • * t 


u £ -S St \ Rockwell International Corp M an- “nimmed her views on very impor- 
;i ih ^•^ CWICenL . ' tant issues such as ‘star wars’ to get 

“This was a bigcontract for Pies- the commum'catioasconiracL n 

_ sey." said Keith gylc es of the jjtQsfeL .vJfeTfl. Defense Mipisuy spokes- 

— “ brokers ScTungeoui^VIckers. JTAu jnan sad -that' Britain’s agreement 

J n ^ ® ‘least two other countries were in. in prindpte to join SDI research 
_s *st m wi-line for sales if- Washington, had was expected to produce substan- 
T < l ib p m token their system.” rial business opportunities for Bril- 

i ii In Brussels, NATO sources said ish companies. 

'i' juansi 

si n *5 . 

\ „ J | £;>Domier Bids for Canadian Companies 

• '.! iao is iki 1 .... M. . 

■'j International Herald Tribune. ' a 26-perCCUt COntrdfing interest in 

. J £ ^ t FRANKFURT — Justus Dor- a P«yo^ holding company that 
j® [jj g^nier, a West Gensan entrepreneur, jould link deHavdland and Cana- 


^’Domier Bids for Canadian Companies 


an officials to be the favored candi- 


■m » ^Mjfcrcd 500 million Canadian dol- navruano- noan&sua oy ymaoi- 
. (about S365 million) to acquire m offioals to be the favored randi- 

Vi' control of two slate-owned aircraft date, has^t d^Josod the value of 
T « £ companies, de Havilland Aircraft offer J>r d^Hawllmid. 

* of Canada Ltd. and Canadair Ltd. Tafits bttwcen ^ficals of Seat- 

n io* j, ue-based Bocuk Co. and cxecu- 

li £ % k , Thc off". “?de Tuesday, com- dves at Canada Devdopmeoi In- 

* 300 doUars I 0 * vestment Corp. the govenunem 

'* ^ in. tfi.'9TninciliAn rtf Knlh r/wnnamM onrf •■ .is- . t < # 


J ■ ^ uiu uui 

4 1- is h *;shareof the total investment. 

i« Si .. 


the private sector, were well ad- 
vanced before Mr. Dormer made 


a 

u s‘S 

u a- 2« 


Mr. Domier, who seeks to obtain his proposal. 


i#i» a t: 

» « f: 

“23 3555 


^ COMPANY NOTES 


H *| :t$ Aero Services Inleruational Inc dollars (S33.1 million) in cash and 

- ’ 15 has had the equivalent of 16.7 per- stock. 

'J » * njeent of its common stock acquired Imperial Cwp. of America en- 
' ® ^ 10 international investment tered into an agrcwnenl to sell S250 

?: ; t > t ^ The group said it bdds million of its residential and com- 

i.J i; £ (343,000 shares of Aero common mcmal loans to Old Stone Bank of 

F:? v-’ 1 \ stock plus warrants to purchase an Rhode Island. Imperial wiU use the 

W ,j a* ^aiaddiiional 481,970 shares at 47 proceeds from the loan sale to re- 
:i ii cents per share. pay shen-term wholesale funds. 

■: Is £ Bun said its three Scandinavian Malaysian AMme System’s 52J 
:: SjE 2, subsidiaries, Honeywell Bull Nor- million shares offered to the public 
: :,J * j y way, Sweden and Denmark, are at 1^0 ringgit (74 cents) each were 
? o % i° forming a new data communica- oversubscribed sixfold: 

Lions affiliate. Niwdic Bull Net Mannesman AG said its wholly 
> Uj, A/S. Its main activity will be as a owned subsidiary Mannesmann 

• j j) jS ^consultant to users of BulTs data- Kienzle GmbH has set up a sepa-. 

H '! lii JJs ■; networking system. Distributed rate software company, Mannes- 
« « * ty Systems Architecture. ' . mann Kientle Software GmbH, to 

tJ J '".2 3T g-- Gana & Powa- Co^ a strengthen its activities in the field- 

«!!; Hong Kong utility, said it wiU pay Safer Devetoptnem Inc. has coo- 

* : “ : is sj W dividends of at least 56 Hong Kong sented to a four-month trading ban 

• ; 3L S m i,f cents (7.18 cents) per share after a and a 530,000 dvfl penalty against 
-- ■< ?*il ^ * !one-for-Five stock bonus in the fis- it imposed by the U5. Commodiiy 
\ ^cal year ending Sept. 30, 1986, com- Futures Trading Camnussion for 

- ri $ i» ? i- pared with an adjusted 50 cents last alleged illegal activities. • 

ii *JE|;5vear. Security Pacific Cwp. will boost 

j? j J iff Floor Corpv said it will merge the issued capital of its wholly 


sgsfl 


. * git company to be. called Fluor-uamei irora oo.j nmu ua wims. 

f International. Speny mad it Ira a new 

J; f %£) Hutchison Whampoa Ud. said it device called the Sperryhnk that 


t ‘5’iss’ TOsemson wnampoa saio i« ue»«* *«««■ 

‘ L - V S £ >} exercised an option to buy from its allows its computers or other com- 
.ii .? ?gs S ? ^-chainnan, Li Ka-shina, the 50-per- patible computers made by.Intei^ 

' ■:* % ^Sjceni interest it did not previously national Business MaehmraCoxp. 

• 1 - J - £5 own in a Hong Kong office build- to link up with Sperry’s oflkMn- 

-' -: j - ij £ 5. Vang' for 258 million Hong Kong formation system, . 


iNVBTMBJTS — UJSJk. ' ■ 

INCOME PRODUCING REAL ESTATE 

Ideal for Pen*ion Funds and other large Groups 
1. Soft and Secured 
/ 2. Below Market Acquis ton 
3, Total Management 
• 4, High Yearly Returns 
5. Excellent Appreciation. . 

Properties $3,000,000 and up 
principal* only p/ease ntply to: 

UajnJ J. WBBaira, ReaHer 
54291 PM 1960 W_ Suit* 210. 
Ho u s to n, Texas 7T069. 

TeLs (713) 53A-9399. Tbta 387356. 



IF YOU KNEW THAT REPUBLIC IS ONE OF THE MOST LIQUID OF THE TOP AMERICAN BANKS, YOU’D BE PHONING THEM TOO 


Republic National Bank of New York. Traditional banking in an age of change. 

MEW YORK It-212|-9XH>000 LONDON 144-1 (-409 i«t> PARIS i LUVvEM30UflG «2,-«?0-7Il MILAN 1 39-2 ,. SOT Ml A S«FRA BANK. WITH CAPITAL OF OVEP SI.IOD.OOO.DOO 




Toburs include the nationwide prices 
dp to the closing an wall Street 
and do not reflect tote trades elsewhere. 


S3 

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(Continued from Page 12) 


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FIRST 


In August 1985, Research Services 
Ltd. released a study of the reading 
habits of international financial 
managers in Europe* The study 
showed conclusively that more read 
Institutional Investor than any other 
magazine ... including : 


The Economist 
Euromoney 
Business Week 
Fortune 
Time 

Newsweek 

Der Spiegel 

Le Nouvel Economiste 


In fact, in virtually every category- 
from job responsibility of financial 
manager to industry to geographic 
location, the story remained the 
same: Institutional Investor ranked 
first. 


And if worldwide leadership is not 
reason enough to advertise in 
Institutional Investor, here is another: 
thanks to strengthening international 
currencies, coupled with a new rate 
structure, an advertising schedule in 
1986 will cost international 
marketers significantly less than it 
did in 1985. 


Put first things first. Contact your 
Institutional Investor account 
executive today. Or, contact 
Christine Cavolina, European 
Advertising Director, in London at 
(01) 379-7511. In New York, contact 
Denise C. Coleman, V.R & 
International Advertising Director at 
(212)303-3388. 


iTrn 1 

rPY 


‘Co-sponsored by Business Week. The Economist. 
Euromoney. The Financial Times. Institutional Investor 
International and The Wall Street Journal/Europe. 


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South Korea Warns U.S. 
Of Retaliation on Trade 


Rmen 

SEOUL — South Korea threatened on 
Wednesday to reduce grain imports from the 
United Stales because of growing U5. protec- 
tionism. 

Deputy Prime Minister Sun Byong Hyun 
told the parliament that the government was 
considering importing more agricultural prod- 
ucts. mainly feed grains, from other countries it 
&i£s~£uled foTiring abOuL a~reducfibri in U.S. 
curbs on South Korean exports. . 

Official figures show that South Korea im- 
ported SI 25 billion worth of grain last year, 
about SO percent of it from the United Slates. 


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16ft STO Twrli 
9ft 3TO Tawlspf 64 11J 
41% 25% TayRUs 


2% 14ft Truer* JJ 1J 11 
23 8% TWA 


23 8% TWA 

16 13 TWA pf 225 142 

Jfft lift TWApfB 225 63 


11 114 18% 15% 15% + ft 

1147 4TO 4 4ft + ft 
88 6ft 5% 4ft + ft 
111 4 3% 3% + ft 

27 1428 36% 35TO 3STO— TO 
II 423 16% 16TO 16% + ft 
1901 22ft 22% 22ft + TO 
12? 15% 15% IS* + TO 
61 33ft 33ft 33ft 


5 TO 24% Transm 168 S3 16 1367 32ft 31% 32% + ft 


91% J7TO Tran Inc 228 127 19 2TTO 21TO 21% + ft 

14 11V. TARIfy 1J0 BJ 87 4 12V* 12ft 12ft + ft 

2TTO 15% TrnCdonl.13 4J 7 4 T61* 16V* 16% 

$7% 44 Tramcn 4.99 b! +2 49 832 49V* 48% <9% + TO 

SATO S3 Tm*c Pf 3J7 46 460ft40%40ft + TO 

34% 19% T ran Ex 236 11J 304 20TO 20 1 .* 20% + ft 

13ft 5% Transcn I 227 STO 5% 1% + ft 

15V, 70 TrGPof 665 7.9 1CU 54 54 84 +2 

\tn B4% TrG Df WJ2 10J AOzlOOft 100% IDOft 
77 85ft TrGP of 864 9J 5Qz 96 96 96 —1 

75* 73 TrCPpf 2JC 93 « 25ft 25 25% + TO 

13% B% TrraOn 6 136 12% 13 R — TO 

47ft 29V* Tronwy U0 29 13 5484STO45ft45TO + ft 

5% 3»w Trawta 68 1J 14 555 40% 39% 40 — TO 

2STO 12% Tyrid wfA 93 23% 22% 22% 

34TO 7TV, Twfdpf 2J0 5J 20 34% 34ft 34ft 

171* 15% Twklpf 1J0 117 9 17% 17% 17% + % 

49ft 34ft Trovlkr 2J4 46 II 3001 46% 45% 45%— ft 
fflft SOTO Travpf 4.16 76 45 55% 54% 54% + TO 

Sft TrICon 365*119 951 Z7 36% 27 + ft 

7% Trial as a J J » B 30% 30%— » 

?3 Trio Pc 1J0 2J 10 308 35ft 35% 3SV»— ft 


93 23ft 22% 22% 

20 34% 34ft 34ft 
9 17% 17% 17% + ft 


Trio Pc 1J0 2J 10 


49% 30% Trlbon* 
7% Mk Trlea 


M% 35% 3Sft— ft 


J4 1JT7 m 50ft W* 50% + % 
20 21 13 119 6ft STO 6ft + V* 


Dunes Casino Group of U.S, 
Seeks Chapter 11 Protection 

The Associated Press 

LAS VEGAS. Nevada — Dunes Hotel & 
Casinos Inc, faced with a growing number of 
financial and legal problems, filed Wednesday 
for protection from creditors under Chapter 11 
of the UjS. Bankrupt^ Code. 

The filing placed in limbo a series of legal 
maneuvers under way against the troubled Las 
Vegas resort, which remained open for business. 
Valley Bank asked a court to appoint a receiver 
to oversee the resort's operations. The bank 
took the action after the Dunes defaulted on a 
$68.6- mill ion loan. The coon action was. 
dropped when attorneys filed the Chapter 11 
proceedings. • j 



wnr hkws 19 


AmCoffllnd 

ConwuOvne 

M o mtGp n 

NowProc 

SCESSOof 


BATlod Business CoMooWls* 

— SwrJnA FutvbuII 

Honwtasdf Landmark Money Mat 

RttySoon RucuR 

UnbDor WHcaFbi 


Allan Tire 
PenEnlMf 


££5K USSXS 


Seize the worid. 


Thelmonational Herald Tribune. 

Bringing the World's Mast 
Bnpartam News to the World’s 

Mbstlmponam Audience. 


ADVERTISEMENT 

INTERNATIONAL FUNDS (Quotations Supplied by Funds Listed) 


AL MAL MAKAGEMEKT 

-Iw) AI4MQ1 Trusl, SA 

BANK JULIUS BAER & CO. Ltd, 

-fdl Baarbond 

-l d ) Cwtaar 

-Idl Emilbner Am— im 
•Id) EcuLhoer Eum, 

-I d I Eauibaer PocWc 

+ d ) Grobar 

-< d 1 Slocfcbar 

BNP INTERFUNDS 

-lv*l Infer Pond Fond 

■fiNj irwarcvrrrwicy USs_ 

Iw) Intercurrency DM 

-fw) Inlercurancv Stetllna 

-Vfel Infer faulty Pacific Otter __ 


I iuuml runuo twuoTaTions 5>uppiiea Dy Funds Listed) Nov. 6, 1985 

■ We> -°py r°[?* ?»?WKta« ora «n»pU»d by the imqd Wim tttaexomHaa of Mum, mate, feyota ’ * 

Tha marBlaal svmbob IndlcaTO framtencr of vMMons WtaHedUd] -dally; iwi -wwMUy; fb) -b+monthty; tr) - rwtoyrnt-frrevajartx. 


^public 


BANOUB 1NDOSUEZ 

-( d 1 Astan Growlti Fund S ’ 

■ lw) ruu-rtvwt SF I 

+ «> FlP-Aawrlca S ' 

-€*•» FIF-Europe S 

-( d I FLF-ltaemaflpncl 

-<■*1 PIF-Pnctfic S I 

-(d J lnda*w**Multn»atfBA S II 

-fdl IndtKuez Mull [bonds B S i; 

-(dl IndasuetUSD lNVJA.Fi_w *10: 
BRITANNiA^OB 371, SL Hdtor, Jartev 


- S 151 J4 Hit EC+’1 1^0480 NIMARBB? ,rrt ' 1 - S rT » , '«' COS— S 1462 tg] OlWok FlW '. {H" .- . - — ~~S 39J3 

SF 90565 jSlgggt!aB£ r= i se -M * JSI I *{g 

S * F | 5=2 S 31X3 -J" DoS c • JaS^ T' ~ • « T SSy |wl — Ecu 4312S 

^ D , e yn PQB 47% Maronton Bermuda OBUFLEX LIMITED : 1 7v fwS — *M-S4?43 

*|y?SWS -tel %??«»*- * K37 -!» MUItaurrencv « nu II? S 90163 1 

SF 1211 JO -frn I Amer Votaek fiimPnri 5 10A22 Dallor MmUuri T erm ■ W1 Flxnl InfinmeTiwr., \ 106* : 

5f!211m HdJ^^A&taFStaZz: s i?S KLiSvai*"" -? •«« iw)Fgg|£ U? wePr - ^ ’”■£ 

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D ” j j } EHkg}v tof 1 - S 73.11 -fw MUFm eL cp JJ5J i Hi f. ^onkt-Taip inttrzlrm DM 4A27 

- « *52 J SS!u7 2 r **!J * 3145 OKANGS NASSAU GROUP l0 ' 10 H”? »nan<> HMos. N.V_ * 132J2 

" *. I&S? '12 Frontier Fund 8 100 PB B557S. The Hooue (070) 4*9470 Iw) HexOc Fund»_ S W4.18 

- S 1071 -fd) Fide Illy Pocfflr Fund Dan .t* a.eZZ3Z3Zl. , r vrluu . . _ l wJ Horizon Fimt «,45r« 

fd) FIMItvfen RnWhF* t ui o . O * 3720 m BEXHuMn^TTu -3 'toH 


1067- j+w) Pound Storting! 


bJ *t*£«J'**— * jwl oSghFgJ ff*. }« Gaj2ram.39c.Fund. 

D « S* j2! SSnjj'iSELWis 5 7111 fwIMaFmn c JHJ j® F rank t-T me Interzlr 

« ?n« f ^SP * XUS OKANGS NASSAU GROUP ,0b 0 12 Htxnsntanp MMra. n 

* 1M7 -Id I Fidelity Frantlar Fund 8 I4J0 PB BS78. Tift Hooue ton JM 947 D H«Oc Fun de. 

. S 1BJ1 -( d ) Fidelity Pacific Fin d . S15ZJ8 -f«t> n-— r ■ netapplnomt i””" e W Hoflmn Fund 

_ -< d ) FlOelitv Soa. Growth Fd__ S 1444 PARIS8AS43RCU^ >9ert+ * — ! * 3230 m IBEX Haldlnas LhL_ 

5 11 .14 -id) Fidelity Worl d Fund — S J7J7* -Id) Ccrftka InltniaflaMl , nM f jlAlOB, 

SF MJ0 FORBES POBH7 GRAND CAYMAN . - d j ECUPAR me , £££. Z . ll -*-lG S-I 

} 1696 London Aaenl 01-639-3013 -iwinpr lflM ~~ E rSi ?S7"K ** I OIBrfund SA 

'?* IS ? 7J0 - w) OBLIGESTIOS " d 

T 1967 jS]a5T^S, tnc : cn,Ri — { ? ISTSa^S- 

* '05^ 1~) gtikl ^Va xectcltan. S 466 -twl OBLI-Gulpfm d Invoxtn Pw *” R * >d - 

■W miul -CwJ East ! rrvestmftnt Fund 5 JWk98 -fd? PARJNTffR pJmd 5WTH '“ • JmiSetedkn 

.5 jeoitteh Wortd Fund t 126 J2 -< d ) PARINTER nnun cTiun — * n wl -tapon^^cPi»?? >0 


: . : rwiiv, 9 iiw; mi a j noimv rronriw runa-« 

■IXNATl^iSnrvui-n 0 ^' OHcr — * ,ttJ1 -f d > FWallly Poctflc Fund 

Fldeiitv Sod. Growth Fd. 


-Iw) BrIIJBimr Inrnm ... - . S 0J 

-lw) BrlLSMonoB-Curr 3 

-td) Brit hill J Manaajwrlf S 

-I d I Brit. intLt Manooj'tx-H C 

-iw) Bjit.Am.lnc.5i Fd Ltd 8 

-Iw) Bril, Gold Fund 8. 

W) Brl)6rCTX>o. Currency C 1 

-Idj Brir.jaoanDir PsrtPd s 

-twl BrIIJeney Gih Fund e 

-Id ) Brit. World Lois. Fund. S 

-f d 1 Brtt. World TectWL Fund s 

CAPITAL INTERNATIONAL 

-IwJ CaslMl Inri Fund 5- 

■Iw] Goottm Italia S A $ 

CITICORP INVESTMENT BANK (LnJ 
POB 1373 Luxanbaura TeL 477J3LT1 
f d > cmnvest Ecu ■ ... _ ECU 100 


-« 9109 
ECU 1027 JM 

PM 133167 


— ! WJ Mortem Fund_ 

” 7 fflGSCSS 
5 Sfi»is= 


3 1304.91 
SF >1193 
9 9JS 
■% *854 

S . U71 i 


T10WJD Id _ * iw? 


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J ss 

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L53- -Iw) I 

1-138 -IWlGAMarlco lac 

0J19 -Iw i GAM Austral la Inc 

i.m -lw) gam Boston lac 

xjiinJ 8 -* ? rn 'l?rzgS2 £& , _ I fSsB 

^ ' -iw) <5AM Norm America Inc — ^ $ 10927 •(«! SHB Inti C^OwIti Fimri 'r tw) NIdodh Rjnrf ^ 

pw » ,0 SK a8gusgg g<*faw ^^ |4S 

ES»_ ... -iw) GAM Pena. A Char. Wort dw._ 10469 p -idiSdVtotaSJfcSCSur: twl N aShf lnv * 3f, »*« Fund — * 9*0/ 


s a! Sic 12" ««m#« 

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9 10X79 SKANDIFOND INTLFtjND TSSI mL—?^ 3 JW) Unrhjori 

J 16.19 ^w)lnc.:BW s 6 J 4 g^*W „ }3 JJSMHWNV! 

F 11465 -IwlAcc^Bkl s. *77 2 5 A 5 ( d ) Meobtanum s»i 


— S 82,13 
KWKSSL33 

— * «7 

— *134117: 

_ S 18*99 
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ft- 5 7634 . 

— 9 I59J2 . 
— ■ 8. 2*50 j 
V KH.154JS 


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i2!S25X2:SS2 IE -«wl GAMPens.aaiar.UJC.Fa_ 10259 o -Idi 

•S2!i*3X 0 ? ,r S ,rt SF 10360 .iwV RAMftm * n+92 -jdlFlortnBandSSrtSj * 

? Boodyator D-tnork DM 105.18 +w>GAMSInoaDore,'Malavlnc S 9663 -Idl 5W * rt,on -— 

-< ^ y««- US-OOLLAR 5 I077S -fwlGAMStfert*lnnUnir.TruW_1467irp -IdlJnEanpSrSSC — 5E 

■J A l 5 c * v Wy. Y « » Vdfl I0033J* -1 w) GAM WerWwMt PIC 9 18263 -I a i Shn?lfBB2d^to5iS; — 

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JdlConv«1VtelcrU9WlAR. i 130^ ft.r! MMUkGMMNT WKJ^ UO^ “* 3d 

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^ ! cs Ponds- &«tas- SF 70J0 -< r I G.T. AoplM Setaoee 8 1162 -(d) Unhrmat Fund-*!?— IE 

■jjJS n , ." -r . - . ■■■ SF 11775 -Id) G,T. Aian M JS. GkfthJ-d S 1250 -I d I Van Bond S a l ee t i km . Sf. 

•la) CS Money Market Fund — - SIO&OB -fd) G.T, Atte p.*rwt 1 * UHIqw giwr nffcSTS^ yr-rf ;v = y 1 

•151 £5 Wwtet Punn— OM1BS9J0 -Id) G.T. Australia Fund—— ■* 3665 -JdJ l Atl55 uk°'TO 5WITZERLA,,, i ^ 

^ ? ?S Money Market Fund C104UQ -(d) G.T. Europe Fund—..— . . 9 13JB -itflRavUnuM) 5 F 

‘fdl nIE? ,e ' Votor £E 14475 -VWJG.T. Earn. Small Co*. Fund ___l 1564 -1 d ) ^oeSe^Shl' ~~ |E 

-i d ) UK6< SF linjnn .irlAThnlbrDMH * liK .id i iZISLt— ~ SF 


437 J0 1 ( w ) NAMJ lnw ® tfrr, «»Fund S 9467 

12250 1 (ml Nupi'y S 17M6 




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-l a 1 5fwiino BcwrafSSon » SSS ! r } £?rmai Vain* n 

ssitasaswaaE^ m 

!1» («? Universal Bond ISa 1 — SE (»J PSCO )n tL n v 

SLSwaaE=jrjB 


■idl SF | 

•Id ) Eurooo-varor. SF ■ 

-tdl Podflc -Valor SF 

DREXEL BURNHAM LAMBERT INC 
WJndwser Muse. 77 London Wail 
LONDON EC3 (01 9309797) 




SF 80200 -ID G.T. DaOar Fund 8 1485 -I d ) Jooa/Wnvotf 

IE T **-S -( d 1 G.T. Band Fuad 8 116? -1d]5ont5c ^^ 

SF 15960 -l d 1 G.T. Global Toctaiftr Fd_ 9 1131 -(d)S)ma(i 

INC -(d) G.T. Honsta Pathfinder S 2B6J UNION INV 

-Vd) CwT. InveatmenkFimd. 8 2066 -(d) urrirwii 

-I w ) gt.Jopoq Smell CoAmd— S 4565 -td] mutant 

* 127.15 -( D G.T. Tedmotaey Fund S 3367 -(d)Unirak 

S 1966 -C d)G.T, South CMno Fund 5 1453 -IdlUNlZir 


II iS iS B=9 


. S 17633 
—I >17561 J 
. 1 7104 i 

SF 139768 

- S129L19 
. S 110561 

. S 13250. 

■ * 10546 
. * JUS 

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LF 280860 
LPMJ5JB 


u 1 ■leio.i.JWBBsniOiwiiro™ a «UD 

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ofi»F Funds. 1,11,5 WSSSSS!™^ 1 ? « 

-(w) Winchester HoMlncs FF 1065* Nk Pf}, lw To) 4137 23405)'-- (w) Actlborats Inwtimmh Fund * «« jSiL'SS.TS 1 ““ 

J.ik»uw. e__ ■». 5 1268 -(d) Croebow (For East) SF 1049 (w>Aettv«t Int i ^ KuT> d - * MJ3 < * ) Thorm™ f und „ l -l«I * 1175 

— J -fd ) CSP {Balanced) SF. 2624 fmiAiih-rt i w — * 1161 jw) ^ 138 * 


id I Unizins. 


<«)SwS7yi?5S£2??.f u «I— 1 24,19 


3g- — dm 43jo w IS5^»®» E5srrvi 

DM JU0 i*i§!lSn > ><lTOMneMF 

"* ==== SS ,g § 

Other Funds |: Sra?**®" 


M«V- S 1)63 

y S 92557 

*MNV, 8960 

und S 24,19 

— S. -1169 

SP 7864 

Ud — S 930 

_____ s nos. 


-(w I Worldwide Securities . . $ 49,13 

-f w) worldwide Special s 174*33 

DIT INVESTMENT PPM 
■-H d 1 Canentrn nM 14 n? 

-H d ) Inf I RentwifLinri qm 9266 

Dwm^BM oraW 6 U oyq oeooo, BwtMBh . 
-( 01 ) D&H Commodity Pool __ S 33*90 — 

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•|m) Winch. Life Ful. Pool SSTOJO — 


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s 174*33 -Id European Eourfy Funi__ DM 1163 iw) ArvIIp I ntomaitanai Rjtm 5 'TofcygpSE'JSS' Jff*)- 

. • „ -Id him. Bond Fund * -HUB I r j Arad RnancTi F^ l ^ OTfl — J 177^ (wjtSSmSs ■ 

DM 3567 -Id) Iht. Currency UJ. 26J7 frIArtane-. — » ! a » 

5555. B^eh 204 id aSeuFd^NlAMERICAIft. 5- 2*7C [wia^STOx3nMBt ^ EIR — 

ISS” Vr l&aessste s= t » !si§S5SpSfep& I ?]SS!Ss^= 


8 10669 

* MW 

» 9415 
8 1165) 




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!.a»islRESBS^TjT«fi 


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t n 1 tSS — i 16046 -+ w) Lloyds inn Growth 

jSi -a- P^- T— i 3-2S ■+ wl UDYOS inn income 

i a 1 IhErt -n- iST 1 — - * 167B9 -+ wl Uovds Inn N. Aina 

MW) * iDNtrl___ ^ (WSJ2 -Hw) LJovds Inn PodRc. 


5F: 12&5D|(WtD^C 

SF T735I Hd) DoHa^Boerbond Fd. 


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— — J 1JPS2 — f-(w) uoyas inn intmne ■ SR 317 JO +d i D-mark-Boer Band p 5 ~ n .* ™-W 

nl — t 1J7B9 -+[w) Uovds Inn N. America__> 8 .10555 (d)D.WHTwWId WkJeivt™ “5 “5* 

* *9522 -+iw] Uavds Ian PedFcft SF: 13260 I r 5 Drekkar IIMHtPtind N.v ^ ~ i,4H* 

— s 3541 id) Dreyfus Airterica Fima f 11 ^? 


-tw) Long Term— ___— __nL % • 

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rvtST.'P„t-^ ^ , r M pt Av o<<gWc: NotConwnonleotedje-New: S. -suspended: S/S -Slock SotH; ■ - E*-OMdood?~ a - 

Reaemrt- Paco- Ex-Coimwi. — - Formerly Worldwide Fund-Ltdt » > Offer Prteglnd. 3* prrilm. dwra c I + dnltv sfaSl^u-- 


Offe r Prtr^ 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY. NOVEMBER 


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ITO Ionics s 13 SO S 

23 trooflrt 31 >7 ITO 


SIfe ifa + V. 
4 TO 4TO 
J I — It 
to at 

6W ah— l 1 * 

a S + W 

fa % + fa 
3TO V 
TO TO— I* 
HW Ufa 
IH 1H- 'fa 
TO TO + fa 
111* It** + h 
ITO Ufa — V. 
S I — fa 
4k fa- fa 
4 * 4 fe + W 
4*4 4*4— Vl 
TO 31* 

TO TO + Vi 

4 4 

4W 4*4+1* 

mi* a +i* 

Ufa J2h— 1 


1*44 Ufa Joctvn SOD 4J ? 13 131* HR ITO + t* 

744 Jh Jooc4m *0 SVa TO TO— fa 

4fa 3h MNH a TO 4 314 4 

114 fa -MAwl | fa fa fa— fa 

TO 5V, Jelnm Jit 109 11 30 4*4 44* TO — fa 

417 TO JoonPd a TO TO TO — fa 

I Mb 4fa JahnAin JB 4* « 1H 44 «l TO— fa 

mu 4 Joimlno 4 S4 (fa tfa TO + fa 

Tfa 3fa JumOJk )4 4 2fa TO TO 


71 I fa 
I Ufa 
•I tfa 
303 Tfa 
2?Z TO 
1 W. 
4 ITO 
447 Rfa 

1** 

738 ft 
a Ufa 

33 Sfa 

$ 

1 fa 

4 14 fa 

a *u 

10 714 

34 Tfa 

7S 1744 

33 144 

t 3?fa 
1 1DW 
14? WV. 


TO TO 
15fa Ufa 
444 4fa 
Tfa 744 
TO TO 
l?fa ITO 
37fa 3344 

a? 

4Vfe tfa 
] Jfa 
Ufa Ufa 
tfa Sfa 

\ ^ 


1444 Wtt 
tfa TO 
Tfa 7V. 
71* Tfa 
Ufa 17 
life M4 
It 2TO 
Ufa Ufa 
?fa TO 


2 KoooAC 

10 rCnv-Cp JO U 
Ufa ICOVJ n TO IJ 
La KfefOim AST 13 
Sfa K«vCo8 .1S4 4J 
TV* iCtvCaA .IS* U 
Tfa K*vPh JO 2J 
213 IOr.Cc 
2h iO<5de«T 
TO llMIl 
3fa <knv 
M KitMfg 

3 Klcerw xor .? 
Ufa Knell 

32fa KeoerC 132 U 


34k 34k 344— fa 
13 13 □ + fa 

m B 3 

Ufa ITO » + fa 

3 m 3 31* 

3 2*4 3 
TO 7*4 I 
3*4 Jfa TO 

4 Sfa Ifa— 4* 
Sfa TO TO + Vi 
TO Tfa Sfa Tfa 
Ifa 4fa 4*4 

Sfa Jfa Sfa— fa 
ISfa 14fa IS + fa 
3Mt 24’« 24*4 + fa 


130 2 Ifa 
31 14* Ifa 

21 4 TO 
2 30 » 

XT 204* 20 
SO ID TO 
4 tfa ? 

31 2T~ » 

43 7Vi Afa 

1 Ufa 30fa 
II fa M 

2 Sfa Jfa 

I 34 34 

31 14t Ifa 

3 4fa 4fa 
17 Ifa Ifa 
43 X ltd 
IN 37 jefa 
XU 15*4 
33 Ufa Ufa 

a iva mt 
31 Ufa Ufa 
127 1714 1144 
T U 10 


Ifa- fa 

Ifa 

TO- fa 
a —fa 
29fa + fa 

10 — fa 

t — fa 

a 

Sfa— fa 

aw 

to 

5fa — fa 
34 
1V1 
4fa 

Ifa — fa 

a +fa 

3ifa— 4* 

11 

Ufa + fa 
Ufa + fa 
Ufa 

II + fa 

u 


tfa McrtRUv 
TO Mat Sen 
15V. Motrlxs 
Ifa MOVE m> 
Ufa MOrflw 
Ifa McRdcA 
STO 
1446 
Sfa 




Ufa 

Ifa 
TO 
Ifa 
? 

Ifa 

■fa TO— h 

,7 %“fa +lk 

10*4 llfa— fa 
30 fa 20 fa + fa 

!§-* 

1TO + fa 


I0M + % 
Ufa— fa 
a + fa 
ii + fa 
20V. + fa 
4 + fa 

*!fa + fa 
2046 + fa 
116 

Ufa + fa 
ITO 

25*1 — 16 
416 

TO + fa 
it + fa 
TO + fa 
Ufa 

151* + fa 
1716 + fa 
Ufa + fa 
2016—46 
2 + fa 

174* 

TO + 14 
Ifa 

444— fa 
14 + h 


i JYLL} AyU'* i 13 


r/flwiN* 




- n 


fawiiiukHir.il i 
BaHEuntiwi 
Bit 


tj 


Growing with the 
solid-state 
control market 

Ametek’s U S Gauge. Controls 
and Microelectronics Divisions 
provide measurement and 
control capability that’s inte- 
grated from silicon to systems 
Write tor latest reports to 

AMETEK 

Dept. H, 

410 Pork Avenue, 2 1st Floor, 
New York. NY 10022. 


I?4* 15fa Ur.i.Pu £0*4 7 
13 i Ln.Poi 


t 17* :7* ’7 »— ■* 
E M'a II 11 i 


TO Ifa SFM 
TO 7 SFNpiA 


# ij r p r+ 


ITO 

TO 

■Jill 

Ufa 


Um 

1S4. 

Ufa 

Uni 

n- 

IV 

Uni 

23o 

15A, 

U-i 

J'i 

Ifa 

UFi 

I 

Ifa 

UFl 

leu 

Ufa 

UIA 

i'» 

Sfa 

Uni 

sau 

Ufa 

Uni 

l«'a 

?-.S 

Uni 

a** 

tfa 

Uni 


TO 3*4 Z-mrr 




Republic National Bank ol New Ybrk 


A subsidiary of REPUBLIC NEW YORK CORPORATION 

Consolidated Statements of Condition 

(In Thousands) 


Assets 


Cash and demand 
accounts 

Interest bearing deposits 
with banks 
Precious metals 
Investment securities 
Trading account assets 

Federal funds sold and 
securities purchased 
under agreements to 
. resell 

Loans, net of unearned 
income 

Allowance for possible 
loan tosses 
Loans (net) 

Customers’ liability under 
acceptances 
Premises and equipment 
Accrued interest receivable 
Other assets 

Total assets 


September 30 
1985 1984 


S 171,728 $123,410 

5,483.653 4.765.203 

77,547 54,860 

2,053,403 ' 1.592.830 
60,107 — 


466,275 i 


2. 777.321 2,287.243 


2.705.704 ^235.375 

873,744 1.137,254 

207,340 133.334 

216.053 231.077 

2151331 102,486 

512.530.885 Sl0.376.783 


Liabilities and 
Stockholder’s Equity 


Non-interest bearing 
deposits: 

. In domestic offices 
In foreign offices 
Interest bearing deposits: 

In domestic offices 
In foreign offices 
Total deposits 
Short-term borrowings 
Acceptances outstanding 
Accrued interns* payable 

Other liabilities 
Long-term debt 
Stockholder’s Equity: 
Common stock, S100 par 
value: 4,800,000 shares 
authorized; 3^50.000 
. shares outstaneftng 
Surplus 

Retained earnings 
Total stockholder's 

equity 

Total fiabffities and 
Stockholder’s equdy 
Letters of crecft outstanding 


September 30 
1985 1984 


5 450,820 $ 350.093 

67.424 — 


^86 


2.643.783 

5,958,492 

9.120,519 

637.857 

876,698 

197,292 

244.763 

24,726 


2,396,494 

4,744.275 

7.490.862 

380,719 

1,142,389 

248.526 

85.803 


355.000 355.000 

800.000 478,996 

274,030 194.488 

1,429,030 1,028.464 

SI 2. 530 385 Si 0376.783 

S 385.506 S 316.006 


^al^l 




^«nr 




^C]3 


The portion of the irwestmert in precious metals not hedged by forward sales was 
$5.2 milBon and $5.9 mfficxi in 1985 and 1984, respectively. 


REPUBLIC NEW YORK CORPORATION 

Summary of Results 

(In Thousands Except Per Share Data) 


Net income 

.Net income pe r commo n share 
Dividends declared 
Average shares outstanding 


Nme Morths Ended 
SeptemderX. 

1985 1984 


Three Months Ended 

September 30. 

1985 1984 


S90.031 
$4-39 
Si 23 
17230 


S71.377 
$4 17 
51.20 
13433 


$30,751 
$1 52 
&41 
17274 


524.242 
Si 38 
540 
13438 


US.S3icadi J USSI^cjJi l L’SSIhekh 


F^tti Avenue at 40tti Street. Nnr Thflc. New York tOCi 8 
(32 offices -hi Manhanan, &onx, Brooklyn, Queens. & SuttoBi County) 

Member Federal Reserve SystemflUember Ffataral Doposn fcaurance Corijorauon 

Bflvert? HiBs • Bekur • Bvenos Ans ^ CaracsB * Cayman bands • Channel Uands * Hong Kong 
Londw ■ Los Angelas • Uuwnttoup • Masco Coy • Mtwnt • MMn • Moras Carlo ■ Montsindao" Morweai • Nan Yorv • ri^ssau 
Panama «y • Pws • Puna iw Esie • fin be Jsnwo • Sawffloo • Sao Paulo « Singapore • Toxyo 


CilV/Codc 





















































Pa^e 16 


INTERNATIONAL HERALD TRIBUNE. THURSDAY, NOVEMBER 7, 1985 



Weekly net asset value 



Tokyo Pacific Holdings N.V. 


I on Nov. 5, 1985: U.S. $145.39. 

Listed on the Amsterdam Stock Exchange 


Information: Pierson. Hetdring & Pierson N.V., 

Her engracht 214.1016 BS Amsterdam. 


ITALFORTUNE INTERNATIONAL RIND 

Soeiete Anonyms 

Siege sodal: II, boulevard Grande-Duchesse Charlotte 

LUXEMBOURG 

R.C. Luxembourg B-8733 

Messieurs lc< j*.-li*.innJir-.s Mini prir- H'sseisliT j : 

L" Gene rale E.\traor»iinjir*.- 
rlw*. Ari ioniums i]ui wtiondrj IS nMicnibre l IJ S5 j 1 1 hr u res. en I hotel 
«J»* Li ELtnqm- Inu-nunonjir a Luwmboun:. hnuk-varit Roial. ant If 
ruivani 


ORDRE DI JOI R 


I. Rempi-iver le l*»\ii* A- L demiere lipi*r <Ju rr.»i-iem*.‘ parazraphe d« 
I'artiiif A He* -laluL- par le Icxle -uifani. 

"... limiter intw pjr Id loi Ju limn-vinq jour mil m-uf ■>■111 qiuirv- 
iinai-ln.'if relative ju\ onrJni-mr> dc placement cullttlif. 
i .Supprijnrr lc irMc "... fi *i I* V-ru-t.- jivrpto dr ra-'hfWT «:>»■ icliurn nu 


fail Rteheler ee- a* ii/*n, par ta Kiltalcdf Rjchji. ..." dam, Is 1^ phra.-e 
if df I'anifU* U*> d-* -ratuL- qui aura iliV’miai* Lj teneur 


du 2* panqirjphf df I\irlir|e ~*> d-r -UluL- qui 
ruivjjn,* : ‘Tout a- In-'iiruire prui •(■■inander j Li jc* if If df raebeltT luul 
■ju panir df -es j.'iiun,. darii i f «.js* 1 jcliuititairr linjchr ra un pri\ qui 
mtj au muin.- i-^ji a Is VaJrur N'ctif <if l'aitiun lellf qu dlt ‘■era 
dclfmiiriff au lire, hain jour «:'0% jliuiion. eunfomu-metil au\ stipula- 
tions do lartifle — -. i-apre*-. r-nu- deduction d'unf mi#f en fharjjf de> 
fraW iiinliimiemfni au\ dijjVrtlwn-' du minw anieW '22." 

3. Ajoutcr un nnuifju paraarapho 3 Ij mile du parairniphf 2 df Particle 22 
Jr* MalUl?. df la leiteur -uivunlc : 

"Pour aulani que le- fondiluviij enoniees j i'articlf 20 ci-avanl *t*ient 
rfmplii*. If jinx de rachai rera pjxablf au plu* lard 7 jnure ouvrjblo 
apres la datf dYi jJulii’it j laquelic la tak-ur rn-lle dinvcnlairc appli*.~a- 
Wf a flf determiner. 

4. Sulr*UtuiT le- If ei-apre*- re»p«viivemeni a ivu\ do point 2l rt 4) 
liilf n •:) do I'jnif If 22 d«- ulatut; 

”2| I fVjJujiion df* vali-un- adnito* a uinr 1.1‘lf ufficielle r-c ktf ->ur It 1 
dfmifr foui> df Uiunf connu. Si uni* valour f»; cuter *ur plusirurs 
txHJP-f*. If . nur- .If b bourse ou If* valfurv .-on I le plus aclivfmfnl 
Irailffs f*l ulilif’. 

U Pout Ir* Ydlr\ST> ntf.s admi*fs a uw vote <4{\f tvlW ou nvsic«.-iw* sur 
un marrhf non nffifiol fl {>our If* vak-ur* admi*f* a urn- if Ilf fotf 
t-u Iniifts *ur un let marv'hf. mai* dont If demk-r cour* n"f*l pa* 
rfprrson lalil. ]'<■•• aluaMon -e lusf ?ur la vakur prnbii'If de real ta- 
li, in. laqufilc doil fir*- f*nnkf a\c* pnnk-nvf ft bnruw fin pur la 
*o»-ifif." 

5. Vjnuii-r. a b -uitf du l cr parairriphf df 1'art if If 23 do* «xatui*. b phra*f 

sUirairlr • 

”. . i-i rfra puyablf au piu? lard 7 i'iur* ouvrabk-s aprt> b ilak- 
d\-va!ujtior a iaqufilf b valfur new d inventarre ipplirablf 1 rtf 
dflfmiinff." 

h. R.-n»pla»f r k* If.xtf df la d-mivn* liam- df I'articlf 29 df* -i.ilul* par If 
li-xif suixant : 

”... unatftnq a»ut mi; nfui cent quim-impt-lnn* n-lalivf jut nrp- 
nt-r.ir* de pbit-mf.i' collvnif." 

Tuul ji (ninnairr disirani ft tv urvsfru c*u rrpivrfnif a 1‘AsM-mblff livneralf 
i-.xlraordmairr dt-vra vn ax i*f r !a *oc if lc ft d'!-pOM.-r *v* .n lion* au moins cinq 
((•un fram s avam r.\?*fmblff au.\ fun-hfl* df* banquf* *uivantc* : 


B4.NOL E INTERNATIONALE 
A Ll^EMBOl RG 
Luxembuarc 

BANCA C STEINHLALSU.N & CO. 
Firtnzr 


BANCO DI SANTO 
SPIRITO 
Roma 
CREDITO 
ARTIGLL4N0. 
Milano 
CREDITO 
VARESINO. Varese 
BANG\ DI VALLE 
CAM0MC.4 
Breno (Brencia) 

Lf* •-onditioiL* de xnif *x-rcmi f**llc* dflimf* dart If* article 67 et 71 de b 
loi Ju 24 avril 19K5. nu-difiaut b loi du LOauui 1915 rflati'e jut sofifle 
• ximmi-rrialf*. 


BANCA SAN PAOLO - BRESCIA 
Btwcis 

BANCA TOSCANA 
Fire tire 


Le Coneeil d'Administration 


The Arab Republic of 
EGYPT 


Ministry of Reconstruction, 

New Communities & Land Reclamation 


Invites Proposals: 

From 


Qualified REFRIGERATION FACILITY 
Operators, Developers, Investors, 
and Entrepreneurs 
of Any Nationality 
for the CONCESSION to 
Build, Operate, Finance and Develop A 
50,000 TON REFRIGERATION FACILITY 
IN THE COMMERCIAL ZONE AT 


DAMIETTA PORT 


and engage in all related business activities of 
the international frozen & cold food trade 


The first stage of the new port or Damiette is expected to 
be in operation by the end of 1985. The port is strategical- 
ly located on the Mediterranean coast of Egypt between 
Alexandria and Port Said since it will be chiefly a 
transshipment center for the Mediterranean, the Red Sea 
and the Middle East areas with cargo fraffic Irom 6 to 16 
million ions annually by the year 71000. 


In order to insure a steady supply ol imported trozen and 
cold protein foods available to Egypt in spite of any 
shortages in external supply and to take advantage of 
favourable international market prices from time to rime, 
the Government of Egypt desires to provide for a strategic 
reserve of about 50% (fifty percent) of annual Egyptian 
import figures and assuming a turnover of four rimes a 
year, a total storage capacity of about 50,000 Ions is 
required. 


Accordingly, the Government or Egyp! proposes to enter 
into a concession arrangement with an internationally 
experienced cold food trader and developer or foreign 
investor to carry out studies, finance, design, build, 
operate the facility and engage in cold foodstuff trade 
based in the commercial zone of the new Port of Damiet- 
la. 


The Terms of Reference (TOR) providing complete 
details and proposal requirements may be purchased for 
LE 135 or USS 100 From the Research & Studies 
Organization of the Ministry of Development. 2nd floor, l 
Ismail Abaza Street, Garden City , Cairo where proposals 
should be submitted. 


Technical and sealed financial proposals based on the 
TOR onlv will be received until mondav 17th February 
1986. ' 


Asian 

tiOHUlKKIlueS 


Sor. 6 


HONG-KONG GOLD FUTURES 

usance ounce 

Clou Prcvlom 
HhJh Low bw Ask Bid Ask 
Nov - N.T. N.T. 31*00 TtaM 3M»3tt/#3 
Dec - N.T. N.T. 32M0 337.00 326JM 328,00 
Jan _ N.T. N.T. 377JH 319M 328. 00 JXJBO 
P<H>„ N.T. N.T. 329JM 331M mm 33Z00 
am _ moo moo woo nstso moo mm 

Jon _ N.T. N.T 33700 339.00 338 jW 3*0.00 
A up _ 3*3 JX 3*100 3*3.00 3*4.00 342J0 3*400 
Oct _ N.T. N.T. 3MJH 34LOO 347.00 3*9-00 
Volurne. 25 lolSPf 100 oc. 

SINGAPORE GOLD FUTURES 
US J per ounce 


Dee 
Fen , 


Pre*. 

Hind Law Settle Settle 

N.T. N.T. 3J*J0 324.70 

N.T. N.T. mSO 3J0S0 


Volume: 60 lots ot 100 or. 

KUALA LUMPUR RUBBER 
Malnrtton cent* per kilo 

Cl ok Previous 

Bid Ask bm Ask 

Dec 181.00 IBU0 179 JO I B0 JO 

Jan lKtoa 183.00 ISO JO IB I JO 

Feb iBxoo 18x00 ibxdo 18am 

Mar 184.00 tasm 1834X1 I8*J» 


volume. 0 ion. 
SINGAPORE RUBBER 
Slnoapore cenls per kUo 
Close 



8M 

Ask 

BM 

Ask 

RS5 1 Dec _ 

15765 

157.75 

ISA 40 

15665 

RSS 1 Jan— 

isaxio 

1SBJ50 

is&sa 

15740 

RSS 2 Dec - 

150.00 

151.90 

U9.D0 

15040 

RSSJDee.. 

uaoo 

149.00 

14740 

14040 

RSS 4 Dec — 

uunt 

14600 

14340 

14540 

RSS 5 Dec- 

13940 

14140 

13840 

14040 

KUALA LUMPUR PALM OIL 



Matovston ringgits per 75 tons 





dote 


Prev taut 



Ask 

BM 

A*k 


- 665 

675 

668 



670 

67S 

600 

68! 


- 683 


692 

693 


_ 690 

710 

719 

721 

war 

_ 690 

720 

710 

7X 


490 

m 

70S 



_ 690 

720 

70S 



680 

710 

690 

nt 

Sec 

_ 680 

710 

690 

TX 


Volume: 1 J lots of 25 ions. 
Source: Ratlen. 


Ijondon Metals 


iVir. 6 

* Previous 
BM Asi 


Close 

Bid Ask 

ALUMINUM 
Sterllito per metric ton 
Soaf 457 JO 65X50 *62-50 66X50 

Forward 68X50 68X00 636J0 687m 

COPPER CATHOOES iHietl Grade) 
Slerllno per metric too 
Soot 955.00 95460 952m 953m 

ForwrO 982 jM) 9X5.00 077m 978m 

COPPER CATHODES (Standard) 

Sterling per metric ton 

5001 929m turn 928-00 930.00 

Forward «61 00 963.00 95«J0 9*0.00 

LEAD 

Sterling ntfr metric ton 
Soar 375.00 27353 27100 774m 

Forward 277m 77750 276m 27450 

NICKEL 

Sterling per metric ton 
5001 779000 2000.00 783000 78404)0 

Forward 284550 785050 789000 29004)0 

5ILVER 

Peace per trot ounce 
Seol 42X00 42100 42150 41250 

Forward 435JJ0 43600 *3X00 435m 

TIN (SnmdanU 
Slerllno per metric ion 
Scor ilo. n.a. B548m 8549m 

Fcrward IU0. n.a. 3454m 046050 

ZINC 

Slerlinq per metric ton 
Soot 39X00 395JN 400.00 402.00 

Seurce: AP. 


Gommmlilies 


Sot 6 


High Low BM 

SUGAR 

French francs per metric tan 

Ask 

Ch-ge 

Dec 

1JLC0 

IJ2S 

1429 

1435 



1.46U 

1*445 

1449 

1453 

+ 11 

MOV 

USS 

U7S 

M75 

1483 

+ 1- 

Aua 

IJ» 

1523 

1515 

1525 

+ 1* 

OC1 

1550 

1545 

1504 

1550 

+ 11 

Dec 

1561 

1560 

15SS 

1565 

+ 1S 

Est. vol 

2403 lots ol SO tons. Prev. actual 


sales: 1434 Ion. Open mierest: 25434 
COCOA 

Frendi francs per 100 kg 


Dec 

Mar 

Mar 

Jlv 

Seo 

Dec 

Mar 


1415 
1460 
N.T. 

N.T. 

N.T. 

N.T. 

N.T. 

Esl. vot.: 22 lots ol 10 tons. Prev. actual 
sales: 4 lots. Open Interest: 456 
COFFEE 

Frendi francs «er 100 kg 


1425 

iff 

N.T. 

N.T. 

N.T. 

N.T. 


14)5 1420 —38 

14S5 1459 —IS 

1470 1.900 —30 

1475 — —40 

1485 — —45 

- 1.950 -25 

— 1,950 —35 


2.120 2490 — 2,123 +25 

2.145 2.120 2.135 H60 — m 

2.145 1123 2,1*1 1148 — 15. 

N.T. N.T. 2,145 2.155 — 20 

N.T. N.T. — 1170 —*0 

N.T. N.T. — 2,170 —40 

N.T. N.T. — 2.190 —40 

Esl. vol . : 99 mis of J tons. Prev. actual sales: 
101 lots. Open fnleresl: 353 
Source; Bourse du Commerce. 


Nov 

Jan 

Mar 

Mov 

Jlv 

Sec 

Nov 


S&P10P 
Index: Options 


JNan.5 


strjk* Cafl+Uai 
Price Nov Dtc Jon Feb 


— S’- - - 

144. UVi 15V5 144* 

10* it »>i 11 

n Hi m n 

1* J%w IVS 4* 


- Vl Vj 
1/16 ~ — 


Pvti-Lajt 

Nov Dec Jan Feb 
— 171* 1714 — 

171* 1714 'A 4* 
171* 4* 11716 11716 

371* I* 1% 2V, 
97163 » K 


□7U 17/1631/ldSV. M 64V - 


Wt - - - 


Total call fOtane 2K474 
ratal can opmm. 51U99 
Total oat votam* I71JXH 
Tsial pat ages ML 664538 
inda: 

t89* 18608 L0PUM9 Ckae 1*589 + 097 
Source: CBOE. 


DM Futures 
Options 


19. Genroo *Brt-I25MW norts. obw oar ntoto 


Abe. 6 

Pot*4eltle 


Price 

DM 

MOT 

Jun 

Dec 

Mar 

Jun 

V 

U9 

247 

2.92 

0*5 

043 

470 

38 

0-96 

1.7* 

U1 

Q22 

171 

141 

39 

043 

1.25 

1-77 

a m 

1.15 

1JS 

40 

0.13 

0*4 

UO 

U5 

172 

NA 

41 

043 

057 

197 

— 

— 

244 


Estimated total vol *4*0 
Calls: Tut. voL 2400 open IM.4IU97 
Pats : TV& voL NJL open lot. 29447 
Source: CMS. 


Cash Prices 


Commodity and Unit 

ante* 4 Santos, lb — 

Pflnfclotn 64/3038 Uj. vo _ 

Sieai Uliets iPllt.i. ton 

Iron 2 Fdrv. Ptvlla- tan 

Sreel scrap NO I hvy Pin. _ 

Lead Spat, ID 


Cooper etaa. ID . 
Tin (Sir alls), lb. 


Zinc. E. St. L. Basis. l&. 

palladium, az 

Sliver N.r_ az 

Source; aP. 


.lir n 
rear 
Wed Ago 
IjW 1J7 

am orn 
3nS 
7£?l &S 

07-70 4M9 

NA *-1573 
0X5-636 245 

103.183 140-143 

6j09 7AI 


j LLSHitures 


Abu 6 


Saasan Season 
High Low 


Ooen High Low Cose Ota. 


Grains 


London 

Commodities 


WHEAT! CO TJ 

5JXM Du minimum- dotiorj ger uiohef 
34J93 2.79V3 Dec IB X2UA 3^6 

Mr 122 130V* 12TA 329V3 +JWA 

Mav 11344 X14V1 11144 X14 +4084 

Jut 2J77V] Z9TV. 2SIV, 192 

So* IK 2J6 2N 244 +41 

Doc xom -‘■40VS 

Esl. Sales Prev.Soles 6469 

Prev. Day OPonint. 29480 up204 


334% 

4.02 

X729S 

145 

3454*9 


247 

244 

283 

247 

L94IA 


Prevkaos 

BM Aik 


Mar 

MOV 

Jlv 

Sep 

Dec 

Mar 


Aar. 6 

CtoM 

High Low BM Ask 

SUOAR 

Sterling per metric ton 
Dec 15340 149.00 148m 14960 152m 15440 
MOT 16*40 161 JO 16140 16160 16340 1*380 
Mery 1*740 1*540 165.00 16540 167J0 167*0 
AUO 17340 17140 17060 17140 17240 17240 
Oct 17840 17*40 17540 176m 17740 17840 
Volume: 2J« tals ol SO tons. 

COCOA 

Sterling per metric too 

Dec 1432 1J96 1407 1 408 1435 1437 

1465 1442 1459 14*0 >477 1478 

14«7 1472 1489 U* IJ07 1.708 

1J20 1JOO 1^10 IJ14 1J30 1J3I 

1J*4 1J23 1 J38 U*2 US2 1.753 

174 1J3S V44 IJ48 1.75* 1.757 

1,770 1^55 1763 1.770 1774 1783 

Volume: 10JKU lots of 10 ions. 

COFFEE 

Sterling per metric Ian 
Nov 1.900 1476 1470 1475 1470 1475 

1.94J 1485 1.903 1.905 1.913 1,915 

1.921 1475 1480 1483 1498 1499 

1.915 1475 1470 1475 1496 S.905 

1.905 1480 1465 1475 1.000 1,915 

SOU 1.915 1490 1485 1490 1.905 1,025 

No* 1.915 1.905 IJ90 1497 1490 1,945 

Volume: 7.4*6 lor* of 5 tom. 

GASOIL 

UJ. dollars per metric tan 
No* 263m 26175 26275 26240 26LZS 2*475 
2*0 JO 2S77S MU 2o0JS 2*0.50 2*075 
25875 255.75 257 JO 257.75 25875 25050 
253J0 251 75 25375 253J0 25175 2SX00 
244-50 24X00 244.25 24460 244J0 24J75 
23840 235m 238m 23875 23*75 23650 
Mar 238.00 22860 23075 23148 22940 22965 
Jan 22760 22540 228m 229m 27775 22840 
Jlr 227 75 22675 22775 228m 226m 22*75 
Volume: 2484 lots of 100 tone 
CRUDE OIL (BRENT) 
ujS. dollars aer Darrel 
Dec 2065 2035 2062 2864 2040 28-4* 

Jan 2766 77,43 2766 2770 2765 2768 

Feb 27.10 2*68 27.10 27.15 2745 27.07 

Mar 2632 3630 2670 2660 2640 2*60 

API 2547 2547 2640 2*45 26.14 2679 

Mar N.T. N.T. 2571 2640 2575 26.15 

Volume: no lets of 1400 barrels. 

Sources: Routers and London Petroleum £* - 
arrange (oasolL crude am. 


SSotofmirUmuni- donor* p^buHwl 

1*5 214V, Dec 3354, 2371m 233*. 233*. — 41JD 

197 2J«S Mar 2A5A. 248 i*3Vi 5U3£ —& 

mu jji May 260 26QM> 247 2471b — MVt 

186 233 Jul ICTi- 2J29S 24TA 248*1 -Ja>4. 

xm 2J4W Sea 2J79j 7JJV. 2JSA —.03 

xSvs 22oS Dec 231 232 279 U. 279W -4IW 

274W 2JO Mar 239VS 239W 23814 238V, 

Eez. 5a Un Prey.SaWs^ H^IM 


—41 


Prev. Dav Ooen Inf. MIL239 ua( 


Season Baasan 


High 


Law 


Open High Law Close Chsu 


167.11 
167.10 
1*748 
16770 
18775 
Esl. Sotos 


13140 Mar 161.95 U24S 1SW5 )*« — 1JS 

135m Jul 14125 16JJQ UP7S 15948 —142 

I BJS 5W iSm 18M5 18060 16080 ->40 

13840 Dec 186.00 1*475 16175 MOj — vg 

14260 Mar M26D —60 

Pr*v. sales 2338 


Pm. Dav Open Int. if J3S crff58 
SUGARWORLO 11 (NTCSCE) 


H2400 ibseamtsaar «k 

SJO 

5)0 

5JB 

5A3 


w 


6l3B 

*39 

*31 

632 

7,15 

May 

651 

85* 

6J8 



3J9 

Jul 

AM 

0JD 

X5B 

656 


«* 

-Seo 

6J2 

ua 

8J2 

Ki 

8,95 

U2 

Od 

85* 

1M 

811 


745 

625 

AA1 

Jen 

Mar 

74? 

753 

742 

. 742 

E»t, Seta* Prev. safes uuo 

prev. Dor Ooen Int 904*1 uaUV 




-47 


High 


Law 


Ooen 


Ktgt> low cuw Cna 


Wff. ss ss “ -l 

*16* 9141 « *9 


*LM RH sS «j 5 2rS -c: 


BR ES » 25 SS SS S&S 


UTI DK 25 JH1 


0940 8939 5eu _ 0T» .g.W *” 

Hf.Mw 2UK prev. Sotos 3*J» 

Prev. Dav Open 1*0.14430 aaljns 


COCOA (NTCSCE) 

ID metric ton*- S ner ton 
ZD7 1H5 Dec 

2392 1955 Mar 

2*2! 1960 MOV 

3*29 1960 Jul 

2430 2023 Sew 

2*25 2055 Dec 

2385 2029 Mor 


Est. safes. 1440 Prev. Sales 4804 
Pm. Oar Open lot. 20907 ua54l 


2035 2040 2021 2039 

21» 2135 ZTI7 2U3 

21«2 2194 2180 2191 —tfl 

2231 2231 221* 2215 —12 

2258 2259- 2251 225* - —4 

2260 2260 OH 2268 

2270 2270 2270 227* 


SOYBEANS CCBT) 

5400 Du mfalmum- dollars bbt bushel 

Nov 572W 533W S.UVl 5.1616 — JJ2va 
Jan 534 S35VJ 576'A STB *6 —33 

Mar 547 648 538 -M 

May 537 567 SJSrt 5491i — 43W 

Jul 541 X831& 563 565U — 05V5 

Aup 569 569 562 563V, — -05 

Sen 53* 539 537 538 —62 

Nov 537 538 £32 634% -00% 

Jan 548W 548 S45 547 —41 

Prev. Sales 3*441 


SAB 

4,97’.*a 

4-79 

5.10 

742 

532 W 

7.7* 

S3 I’m 

65B 

SJ6'- 

6.74 

5J5V, 

638 

53*9: 

832 

U6W 

543 

537W 


Eit. Safes 


Prev. Dav Ooen Int. 75445 UP141S 


J6 
Mar 
Mar 
Jlr 


SOYBEAN MEAL (CBT) 

100 lam- dollars oer ton .■ 

18*jio 12540 Dec M930 150. TO 18740 1*8-60 — 40 

Jan 15070 15060 14730 14840 —170 
Mar 15200 I52J® MB30 149.40 —160 
May 15260 15360 1*930 15070 —140 
Jul 15X50 15150 14960 15060 —170 
Aug 1 5270 15270 1*960 1*960 —220 
Sea 150- DO 150.00 14X00 1*840 —170 
Ocf 1*460 U860 14540 14AJW —60 
Dec 1*808 I4sm 1*560 14660 —2m 
Jan 14760 U760 1*540 M77Q +40 
Prev. Sales 12489 


16X00 
20660 
16260 
i67m 
75260 
16740 
1*960 
15040 
15040 
Esf. Sales 


12740 

1JQ40 

13260 

13440 

13560 

13760 

uaoo 

1*240 

146m 


Prev. Dav Ooen I nL *6490 uoiJM7 


Dec 

Jan 

Fes 

Mar 

AjH 








Dec 

19.97 





1932 


20.12 

ZU8 

19.9* 

3049 




2045 

2043 

2031 

2048 




20*8 

21JD0 

2048 

2047 


2140 

Jul 

2130 

2130 

2)43 

21.17 




2135 

2140 

2148 

2130 

24.05 

2050 

Seo 

2)35 

2135 

71.10 

2130 

22*0 

7045 

Oct 

2135 

2135 

TUB 

aun 

2145 

2035 

Dec 




2130 







2L30 

Est. Sales 


Prev. Sotos 84*5 




+45 

+JH 

+45 

+42 

+41 


+45 


Pm. Dav Open Int. *5478 off *12 


Livestock 


CATTLE (CMEJ 
40400 Oh.- cents per lb. 


Dividends 




8745 

55.00 

Dec 

6740 

8745 

8630 

8640 

-37 

6745 

SOS 

Feb 

6235 

6340 

62,40 

6332 

—48 

6737 

5530 

Apr 

62.15 

6227 

6145 

6112 

— .10 

6635 

5*35 

Jun 

6140 

61.70 

6140 

6140 

— .10 

6540 

vitn 

AUS 

6035 

6035 

6000 

60.10 

— ,10 

60 A0 

5750 

ocr 

5930 

5935 

58.90 

59.10 


6530 

59 JO 

Dec 




80.10 



Esf. Sales 24.125 Prev. Sales 20475 
Prev. Dav Open Inf. 8830* 


.V». 6 


18 


Per Amt Pav Rec 


DECREASED 


Penn Eng* Mia 


.15 1-7 IJ->5 


Amer Coni railed ind 
Wrifllev (Wml Jr. Co 


35 12-10 11-20 
.90 12-31 12-16 


FEEDER CATTLE ECMEJ 
4*400 lbs.- centi per lb. 

7370 58.10 Nov 6*55 64.95 8*35 6*42 

79 JO 6060 Jan 6867 8847 68.17 6142 

7170 6042 Mar 69.15 69.15 4865 69M —75 

7140 6X60 Apr 6830 8B*0 68.10 6830 — JO 

1040 60.10 May 6685 6645 4465 6670 —72 

6860 65.75 Aug 6740 6745 6865 6740 

Esl. Sales I486 Prev. Soles 7605 
Prev. Dav Open Int. 9495 
HOGS(CME) 

30400 lbs.- cents per lb. 


—75 


INCREASED 


Hauser man Inc 
Inti Thomson Org 

Pioneer Grout, 
Tran solia Utils 
Washington REIT 


Q .12 ^ 1-2 12-13 

S 49 ■* 1-15 17-5 
Q 48 12-10 12-3 
Q JK 1-1 12-2 

0 32 I2J1 12-6 


INITIAL 


5045 

3835 

Dec 

*690 

4690 

4602 

4683 

5047 

38.10 

Feb 

4610 

4625 

*545 

4595 

4735 

36.12 

A or 

4140 

4122 

4135 

4 LSD 

49.05 

3940 


4340 

4195 

4342 

4332 

*945 

4045 

Jul 

4430 

4432 

4335 

44.10 

5150 

4035 

Aua 

4247 

£90 

4=45 

4235 

41.10 

3847 

Oct 

3945 

3945 

3945 

39.90 

49-50 

3837 

Dec 

40.90 

4090 

40.90 

4097 

4050 

4045 

Feb 




4UB 


+s>s 

+.W 


EkposoIc industries 
Ouebecor Inc 


49 1-3 12-19 

47 12-10 11-19 


Est Sales 7369 Prev. Soles 7689 
Prev. Dev Open Int. 28310 


Ciaresiat Mfg 
Realtv Sth Investors 
Vulcan Carp 


.10 12-16 11-29 
.15 lt-29 11-18 
70 12-10 11-20 


STOCK 


Amer Fst Carp 
UrxJol Cedar Homes 


_ 5% 12-19 12-9 

_ 100% 11*29 11-15 


PORK BELLI E5 (CMEI 
38400 lbs.- cants per lb. 

7670 5575 Feb 4240 6245 6145 8275 —70 

7SM 5X65 Nksr 8X15 6115 42.1 C 8240 —65 

7560 5745 MOV 66.10 64.10 61*0 6X87 —65 

76J» 5770 Jul 6475 8475 8370 6*70 —M 

7X15 5560 Aug 6175 6175 *140 6160 —3D 

Esf. Sales *411 Prev. Soles 5415 
Prev. Oar Ooen Int. 8.105 


USUAL 


Atianilc Amer.Cp 
Carlisle 
Chum Ltd 
Claraslat Mto 
Cooper Industries 
Diamond Crys. Sit 
First Carolina invest 
Gallon Industries 
Gt Nthem Nekoaso 
Hawker SJdd. Cdo 
inoersoll-Rand 
JWT Group 
Kansas Cltv Pwr LI 
Leasewav Trans 
Leg Mason 
Leggett A Platt 
Liberty Cora 
MCarp 

Monarch Mchn Tool 
Monav MMgment Co 
Moore Carp Ltd 
Moore McCormack 
OakJfe Products 

PcftnBancorp 

Phil. Suburban 

Pioneer Corp 
Placer Development 

Realty 5th investors 

Rockwell I ml 
Sabine Royalty Tr 
St. Paul C« 

Seagram Co L3d 

sealed Air Coro 

Servlsco 

Sens Howard Best 
Source Dwilai 
TNP Enterprises 
Timken Co 
Thomas B Betts 

Trans Mnf Pipe 
Tronslechnolouy Co 
Wrlglev Co 

WrlglevCo 

Wrlglev Co 

WrlglevCo 

XtraCorp 


48 2*14 12-31 

77 11*29 11-18 

46 12-1 It-15 
70 12-14 11-29 
38 1-2 12-2 

70 11-29 IMS 
75 1-16 1-2 

.15 12-1 1MB 

38 12-31 12-3 

7* 1-10 12-19 

65 12-2 11-20 

78 11-29 11.15 

39 12-20 11*29 

Q 37 lb M0 12-20 
O 45 1-13 12-26 

Q .13 12-18 11-22 

.18 1-2 12-16 

35 12-20 12-13 

70 12-2 11-19 
.15 11-20 11-11 
.18 1-2 124 

78 11-27 11-13 
38 12-10 11-19 
Q 77 Vi 12-1 11-15 
0 33 12-1 11-18 

Q 31 12*5 11-20 
Q 47 W 12-16 11-29 
_ M 11-29 11-18 
a 78 12-9 11-18 

_ .184 11-29 IMS 
Q 75 T-17 12-31 
Q 70 12-13 11-22 

S .ll 17-20 12-8 

-07 12-31 11-30 

Q 70 12-10 11-28 
Q 42VS 12-T5 11-22 
Q 31 16 12-15 11-22 
Q AS 12-10 11-20 
Q 3* 1-2 12-13 

Q .12 VV 12-31 12-5 
Q .16 12-1 11-14 

M 35 1-2 12-16 

M .15 2-1 1-15 

M .15 3-T 2-18 

M .15 4-1 3-17 

Q .16 11-29 11-20 


Food 


. COFFEE C (NYCSCEJ 
376001b*.- cents Per lb. 

18860 12975 Dec 18030 18050 15870 15835 —116 
16743 12830 Mar 18060 14145 15840 U840 —171 


ORANGE JUICE (NYCE1 

1 >«140**" u2m Prr |tov 11440 IKOO 11X30 >1375 
10 OlW 1U3B Jan 11465 11560 1U.15 11*40 +M 

17760 HITS Mar 11675 T1UB U460 11540 —.10 

18260 11145 Mav nS70 11590 11540 11530 — 3B 

I376B 11X40 Jut 1I4J5 UeJS lHX n*3 0 —SS 

IS 060 11140 Seo tam +.7S 

1105 11)60 Nov nx» +JS 

Jan I1XS0 +75 

18175 21168 Mar 11X75 +7S 

Est. Soles 580 Prev. Sales 572 
Frev.Dav Open Int. 8403 up90 


Metals 


COPPER (COMEX1 


anjuua.- 

6060 

LCIU1D 

40JD 

■TIB. 

N«v 


60-55 

<045 

8625 

5840 

Dec 

6U» 

AUO 


8620 

5835 

Jaa 

6)5B 

414ft 

8000 

5930 

Mar 

6190 

62,48 

*145 

74 DO 

4040 

Mev 

6Z2S 

8245 


7640 

6&3S 

Jut 

6045 

6195 

70:90 

88.90 

Seo 

6320 

6120 

6320 

70J0 

4140 

Dec 

4345 

AIM 

8345 

7020 

6330 

Jan 




67.90 

6351 

Mar 




47 JO 

6290 

May 




6620 

6325 

Jul 




6140 

6148 

Sep 




Est. Sales 


Prev. sales Kill 



8265 


6435 

M65 

«w 

8565 

6595 


+45 

•MS 

+AS 

+65 

+JS 

+65 

+65 

+.« 

+60 

+68 

+6B 

+68 

+60 


Prev. Day Open lot. 264*6 up *92 


ALUMINUM CCOMEX) 

*0400 lb*.- cents oer lb. 




NOV 





—JO 

7040 

4140 

Dec 

4250 

4240 

4205 


—45 

7640 

4670 

Jon 





—45 

7340 

429* 

mar 

*345 

<345 

4125 


—45 

6675 

4440 

Mav 

4635 

4635 

S3 

w * * 1 

—AS 

6345 

4650 

Jal 

4605 


4*45 

—AS 

52.10 

4698 

Sep 



—AS 

49.10 

*895 

Dec 





—JS 



Job 





—AS 



Mar 





—AS 

S33S 

*9.40 

May 




CT r 3 

—AS 

5030 

5000 

Jul 





—JS 



Scs 




4945 

—45 


EsLSdtos Prev. Sales 1*2 

Prev. Dav Open InL >717 off If 
SILVER (COMEXJ 
5400 trov *&- cents ner truv az. 


4700 

taro 

NOV 

8094 

8095 

88*4 


1230.0 

590lD 

Dw 

6110 

6U4 

81)4 


T2ISJJ 

5953 

Jan 

6165 

6184 

6165 

jTC 

11910 

407 J) 

star 

8254 

6264 

£1 % n 

y^T« 

10484 

6194 

MOV 

6360 

8365 

4334 

V-T 

945JJ 

829 J8 

Jut 

6424 

6424 

4404 

HE 

940D 

821 D 

Sea 

6514 

6524 

8514 


7993 

8524 

Dec 

6674 

8674 

8849 

rtt 

7897) 

678J) 

Jem 




S 71 

7704 

6704 

Mar 




X 

7534 

8834 

Mav 





7*6-0 

WJD 

Jut 

mu 

7034 

TCZ4 

7014 

Est. Sales 


Prev. 5a too 8415 




Prev.Dav Omni Int 88714 afflJIS 
PLATINUM (NYME1 
50 tro» nz.- daitorj per |rav a& 

37360 257 JO Jan 330JM 33280 32730 32880 

257m 26*60 Ajtr 33240 33X50 33040 33070 

36X00 27X00 Jul 33540 3356D 33X80 32X90 

36040 30X50 Ocf 33840 340X0 33840 3X760 

Esl. Soles 1490 Prev. Seles 1153 
Prev. Dav Open lot. u.173 im»7T 
PALLADIUM (NYME) 

100 Iroy oz- doNars par az 

14130 9140 Dec mm 10260 18130 W240 

12760 91.78 Mar 10265 10275 10275 W2JS 

11*40 9160 Joe KELTS 10X00 18265 U2J0 

1154C 97.70 Seo KZU» 10X75 «I40 1EGTB 

W775 M440 Dec MOO 

Esl Safes Prev. Soles 3*9 

Prev. Dav Ooen lid. Uliaeil 


+70 

+60 

+30 

+30 


+70 

+78 

+70 

+70 

+70 


SOLD (COMEX) 

100 troy as.- doUcrs per trov at 


32640 

32040 

NOV 

33X00 32340 32140 32340 

-lSO 

48950 

30140 

Dec 

33650 

32680 

32540 +»<« 

—JO 



Jan 




32740 

—JO 

48540 

30600 

+rt 

33040 

33010 

3294ft 


—JO 

*9640 

31670 

am- 

33620 33630 

33X10 

33840 

—JO 

*3520 

32040 

Jaa 

33820 

33840 

33748 

33740 

—40 

<2840 

331 JU 


34140 

34)40 

34140 

34140 

— .*0 

395.70 

33540 

Oct 

34740 

34740 

34740 

34610 

—140 

39340 

34200 

Dec 

3SI40 

35140 

35U21I 

¥~jJ 

— LOO 

35850 

3U30 

Feb 




1- - ■ 

—1.10 

38840 

35509 

Apr 





— UO 

39440 

38*40 

Jun 





— uo 

3*5.00 

37240 

Aug 




37200 

— uo 


| Currency Options 


725 

s 

1B40 

r 

130 

s 

13J0 

r 

135 

r 

r 

9.15 

140 

r 

610 

5J0 

145 

OJfl 

1.10 

330 

150 

r 

035 

245 

155 

r 

r 

140 


270 


a-anpuaJ; n+monttaly; n-aearterlv; *-**m+ 
annom 


Source: UPt. 


LLSvlreasuries 


Hoe. 5 



Discount 


Prev- 


Offer 

Bid 

YtoU 

rigid 

3-moan MH 

733 

732 

767 

765 

tenaafh bill 

731 

7ja 

7J0 

7J0 

+vear Ml 

738 

735 

798 

791 

Prev, 


Bid 

Offer 

Ytafe 

YtoM 

W- year Hoad 

104 7/32 

10*6/32 

1817 

1030 


PHILADELPHIA EXCHANGE 
Option A Strike .. . :■■ • -1 . 

Underlvlna Price Carts— LaH. 

._now_ Dec Mar Mov Dec . Mar 
12680 British Paends-cent* per unit. 

BPouna 
14X17 
14X17 
14X17 
14XT7 
14X17 
14117 

SUM Canadian Dollars-canfs par unll. 

COollr 70 s Z73 r s 

723J 71 r r r r 

SS 72 1-14 r * r 

7269 73 r r 073 r 

7239 74 r r r r 

826«0Wesr Gennaa Marirs-cents per UnH. . 
DMark 33 9 565 r * 

H * r * 76 i 

S3 J* r 362 r r 

M7? 36 r 16 W r 

»79 37 169 163 r IB 

31129 38 060 Bid 162 0.18 

3879 39 a07 067 1.18 064 

3879 40 r (05 0-75 f 

lama French Frcncs-iethi of a cent par unit 
F ti? nc ,Kl r 570 r r- 

J 3560 125 160 r r r 

125.48 130 r r 265 r 

A2MJM1 Japanese Yeo-ieefhs of a cent per amt. 

J X?J, 5 * B-W M0 * 

*8.14 42 r 848 r r . 

25-12 f* r X10 r r 

*8.14 44 r ill *4 r 

*fl* 45 r ill X45 r 

48.14 48 r lie r r 

*8.M 47 17* 167 1.98 

*8.1* *0 M* OjI-O \M 

_ *9 0.10 066 140 

62600 Swiss Francs-cents per unit. 

SFrqnc 41 s 575 r 

*868 43 S 476 r 

*3 r 174 r 

4668 44 r 340 r 

*868 45 r 1M r 

*868 * *8 0.75 162 274 

*868 IT 04 04 IJ 

„*6*8 . *8 r 069 173 r 

mS Sff JS 1, M? call open tot. 

Total put vaL 5.941 Put open int. 


Apr. S 


POtS— LO*f“ 


045 

060 

1.10 

365 


XW 

440 

870 


004 

873 

068 


0.12 

023 

061 


008 

O10 


018 

060 


045 

168 


r 044 
r 0.W 
004* 078 
r 059 


062 

042 

1.13 

173 


OIS 


048 

0L2D 


. 'rf* 1 ,r «*« s - s-HD «N1on offered. 
Last is premium (purchase price}. 
Seurce: AP. 


118,151 

153643 


Esf. SOWS 


Prev. Sales 9.°04 


Prev.DtnrOoenInf.12UB off 335 


FfiMiicfaf 


US T. BILLS (IMMI 

n mHnoQ-Ptsat HiOecL __ _ • • ,• 

9X08 8577 Dec 9Z94 921* _«i4 .9XW-.. 

Mar *9279 9284 9279 ' 924D 

Jun 9257 925B 9X53 9263 

Sep 9274 9268- 9221 9272 

Dec 9142 9192 9189 9191 

Mar 9160 9168 9160 9161 

Jun 9L32 

SMi 9148 


9293 

9268 

9272 

91.91 

9160 

9163 

9094 


8860 

8741 

8840 

8945 

8258 

9058 

«33 


Est. Sales 7648 Pntv. Sales 8784 
Prev. Dor Ooen tot 39613 otf7Z8 


+41 

+41 

+43 

+41 

+41 


10 TR. TREASURY (CBTI 
5100400 Prtn- pti 033nds of MOpct 
88-14 75-13 Dec 88-13 88-23 184 86-M 

87- 13 75-14 Mar 87-15 87-22 87-9 . 87-18 

88- 13 TWO Jon 88-70 88-2* 88-12 86-13 

■5-20 10-7 Sep 85-24 85-30 15-18 85-19 

84-25 80-3 Dec 85-2 85+ 4+36 4827 

Est. Safeo _ Prev. Sale* 1X945 
Prev. Day open InL 89642 up 840 
US TREASURY BONDS (CBT)' 

(8 pct-S100400+rts i 32ndsaf 100 pe» 


+1 

+1 

+3 

+3 


79-15 

57-8 

Dec 

7X8 

79-22 

78-31 

79 

78-3 

57-2 

Mar 

78 

78-11 

77-71 

77-23 

76-30 

56-29 

Jun 

76-26 

77-6 

7+19 

7+17 

75-31 

56-29 

5eo 

7530 

74-3 

75-11 

75-18 

7+27 

56-25 

Dec 

7+24 

75-3 

7+19 

7+19 

74-15 . 

58-27 

Altar 

7+5 

7+5 

73-22 

73-22 

7+26 

83-12 

Jun 




72-28 

72-27 

634 


7318 

72-20 

735 

72-5 

72-18 

63-24 

Dec 

71-31 

71-37' 

71-Id 

71-14 


67 

Mar 




68-30 

66-25 

Jim 




Est. Sated 


Pnev.5ates226434 




BRITISH POWaXIMMl _ --ri 
loerDouod-lpotatewatnOMBi __ 

:-S \st & IS 33 £3 ttS 

16715 1.19® Jun L*W» LM20 16080 1*>10 
4P.aqks iWWev.Wii AM* 

Prev. Dent Open ML 296** up IB* 


+80 

+80 

+80 


CANADIAN OOtLAR (1MM1 

Sperdtr- IpototewotsSOmoi 

75*8 7088 OfC 7*1 Jin 7350 7288 

■3304 ■ 6981 “ Mer JM 7T& 7239 -7255 

38 -55 SS 3S SS M JB 

Eel sales X3S4 Prev. sates 3646 
Prev. Dor Open M. A6*t mUB 

FRENCN FRANC (IMAO_ 

8pert iuw. -!palnteqottfssnmp<n 
.DIN 49PD Dec .12580 .13838 .1980 .mg 

.13*00. .10W MPT •«» 

JZ1IO .mm Jpn 

ESLSeta 13 FVeu.smes 

Piw. Dev data M- U8 


+12 

+12 

+13 

+12 


.12*75 


+75 

^70 

+8S 


HUMAN MARX (IMMI 

Soar mark- lpMntMuaH SLOW __ 

6874 Jtl DK JM JN MC JB* 

69P* JM MOT JMS -Mil 6883 J«« 

6*3S J 335 AM Jffl g JW 

6*10 3782 Sep 3B1 .6975 JW 6WT 

Est Safes 286t* prev. Sates 2T7T7 
Prev. Dav Ooen tot. 53655 UP 1653 


+30 

+JP 


t9t 


IAPANEB1 rCBAWHI 





JMKSBDriOi 4D**00 m**2S 
40<9M 

jntTifl 

»;Sates 030* Fvev.SOMS >242* 
prev. Dev Ooew M. 3B79B attW 
Slims FRAJKfMBO ■ - 
Spot fran c - IwW+m U t U M . 

673* JOT Dec 6995 6707 6*85 6706 

6771 6835 Mar 6H1 6745 6738 67*7 

6hb jw Am job an 6J9* 


est Soto* 14718 prev. 

Prev. Derr Open Int. 2*6*7 o8B 



Indostiiais 


LUiieei frwn 
Ln4Mna.£sMv 148BM ft 

>88.10 12658 NOV 1*378 1*378 KXOO 14118 —160 

wjod mm Joe 1*560 mud mu i**jo — uo 

n&oa 13970 Mar 15UB 15>.>« 150.10 15060 —60 

17460 14S2B MOV M&jg UUH T5460 15570 -60 

uua uvjb Art ipa wolsb xjv60 umo 

17440 15290 Sen U2JO U2J0 14110 M2JO 

0160 15850 Not, 14X00 + 40 

Est Sotos 1638 Prav.satrt 1 S» 

Prev. Dor OMa tab 7484 turn , 


i cotton j orrcjn ■ 

50000 Ri*.- can#* p«r b 


7240 

5751 

Dec 

4US 

AUN 

«J» 

41.12 

7625 

5877 

Mae 

61JB 

62. K) 

4145 

•240 

7800 

S8M 

Man 

an 

6240 

42.15 

•ITS 

788S 

5820 

Jul 

5945 

40L70 

STAS 

-8047 

6650 

3X40 

Oct 




5X10 

5945 

5845 

(taw 

945 

5820 

51 M 

5171 

8625 

5X55 

Mar 




3225 

Est. Sates 

2400 Prw.Safes 34M 



+ 11 
+65 


Prev. Oar Open M. 226*7 off M 

HEATWO OIL (KYJW3 . 

42400 oaf- cents Per gal 

8878 4965 Dec (ABO 8450 8560 8870 +.95 

8L7S 49 JB JOB 4560 8478 55.15 §&M +98 

BATS . 3840 Fob 84.10 4LI0 83J8 S560 +IJQ 

BX*S 4808 Mar. 7865 9050 7960 8050 +US 

7760 tU» Act 7570 7L5S 7560 78JO +140 

7450 urn Mere 7X90 7X70 n n mm +j.r 

7465 7180 Jun TUB 2280 7240 7240 +90 

7258 7250 Aeg 7160 7Vi« 7168 7160 -60 

Est.Soiei Prev. Sales HU49 

Prev. DavOovn ML 3L82S an 758 

CRUDE OIL (NYMJO 
UHObbL- doWer* per bbt 

1W 2X90 Dec 30BS 30JS 39.94 3032 +64 

2+50 Jan 2*40 2VJ2 2U3 2967 +61 

2968 3C2S Fob 2K.tr 3K» 3KW 28J0 +60 

3965 ■ 3463 -MOT 273* 3JJ0 2767 2762 +68 

2965 2X93 , APT 2745 77 J* 274* 2763 +J8 

2764 2X45 Mar 2841 38,90 2U5 2190 +65 

2U0 2XTB Jan 6860 SSs 2&2S 3635 +60 

2*61 MAS Jot 2UD 24.13 24JJ0 7tt.11 +68 

ALIO 24.90 AUO 2S4S MAS 2545 2565 +24 

27JH - 2440 Sep 2570 BUM 2560 28m +61 

2540 2515 00 2550 2585 2530 2585 +.48 

EsL Sates Prov.Salas uaoo 

Prev. Day Ooen M. #519*7 pW 


Stock indexes 


(Indexes complied shortly Defer* marten date I 


toCOMP.MDEXICME) , 

polnfs o n d ce nt s , • oil 

se y >7560 pec B2B mu 1*765 19185 — J5 ~ 

20X75 M2J0 tear 19X90 19465 19285 19U0 —60 

3063D 18X90 M R52B 19548 W46S 1M.75 —JO 

29A40 W40 Sett 19838 79*65 1*858 19450 +45 

EASah* prevJSatas BMP 
Prev. Day openjoL Mffl win 


VALUE LIME fltCBTl - 

BfllnttWlrt PEE #! 

27745 HUB ' DOC M» WUO 19740 19T45 —.15 

81960 X9050 ■ MOT 19*85 20800 19880 19965 —65 

Est.Salep - Pvew. Sotos *6U 
Prev. Dav open la(.' B«J Ctf*7 


. 'j, C I— • 


NYSSlCOMP. mOEXSNYAW 
potntoandeents rj. _ 

>1768r 10160 Dec 11145 11165 1M65 1MU0 —.20 

WS50 Mar 1IX» TKL25 11IJS 11I6D -60 

12040 10690 Jun 11340 11X15 11260 11X80 +60 

raw mm sop iujds turn iu» iwns +65 

Esi-Sotos . ■ prw.Soto*. 

Prev. Day Open InL 7J22 o«t» 


MAJOR MKT IN OCX (am 

PftoRsandMgMs ^ ^ 263M 24118 361% -A 

270>fc 3499b D9C 28X*b 3839b 261Kb 283fe -M 

Sotos Pnev. Sales eOO 

Prev. Pav Open InL 1915 off M 


Commodity Indexes 


—a 

-9 

-2 

—2 

—2 


Prev. DayOnea Inf 61 1485 up 1 828 
MUNICIPAL bonds tarn 
S1000X Index-pti & 32nds of m act 
$7*2 81-17 Dec 86-27 87-1 88-12 88-12 ' —14 

86-5 80-4 Mar S&A S6-7 85-20 *5-21 —jo 

2 Jon 85-12 85-12 8+27 M-27 — U 

8+20 79-10 Sep 8+4 —11 

Est. Sales . Prev. Sato* 1318 
Prav. Dav Open Int. 8528 ua 877 


CERT. DEPOSIT (IMM] 

si million- pts at 100 net 


9250 

8534 

Dec 

9233 

9233. 


9230 

92.18 

8656 

Mar 

92.19 

92.19 

92.11 

92.11 

91 J9 

8643 

Jun 

9144 

9L84 



91.44 

8746 

Sep 




9U5 

9tX5* 

8834 

Dec 




91J1 

9035 

8830 

Mar 




90J8 

Est- Sotos 

74 Prey. Sotos 

35 




—41 


—41 

—41 


Prev.DavOptm Int. 1403 off 32 


Moody's- 


Reuters. 


DJ. Futures. 


Close 

WJfflf 

TJPQM 

NjB,. 

N -A. 


Com. Research Bureau - 
Moodv^ : base 100 : Dec. 31. 1931. 

P - preliminary; t ■ final 
Reuters ; base 100 : Sea. IB, 1931. 
Dow Jones : base 100 : Dec. 31, 1974. 


Prevkws 
908.80 47 
7.738J0 ■ 
12160 
226.10 


Market Guide 


CBT: 

CME: 

IMM: 


NYCSCE: 

NYCE: 

COMEX: 

NYME: 

KCBT: . 

NYFE: 


Ortcaoo Board of Trade 

a sM-sa& gyas, ' 

Of C3Umo Mercantile Exchange 

ss^sissssass. 


Source: Solomon Brothers. 


Mwrto Lynck Treasurv Index: 13169 
QMitge tar Rm day: + US 
Average rtetd: 965 « 

Sourer.’ Merrill Lynch 


Floatiiig-Rate Notes 


Hoc. 6 


Dollar 


■ADVERTISEMENT' 


FOR ELECTRIFIED RAILWAY RAPID TRANSIT 
TRANSPORTATION SYSTEMS 
BETWEEN GREATER CAIRO, ALEXANDRIA & NEW CITIES 


The Arab Republic of 
EGYPT 

Ministry of Reconstruction, New Communities 
& Land Reclamation 


New Communities Authority 


Invite& prcqualificatiou from: 

Firms (consortium) specialized in studying, manufactur ing, con- 
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— Tenth of Ramadan dry with greater Cairo (length about 40 kilo- 
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— The form of prequalification can be withdrawn from: Develop- 
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—The prequalification form can be withdrawn against the payment 
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— Sealed full and documented prequalifi cation Tiles will be re- 
ceived until Thursday, December 12. 1985, at the above men- 
tioned address foreQualification form withdraws 




Ixwar/Mot. 

Alltatf irtahH 
Allied IrUi 97 
AOlcd Irish 87 
Allied irisn Perp 
Arab Bk* Corp 91 794 
AftonHc Fin 89791 
AufocbtosfS 
Boo Comm I tot 96 
Ben Mo; Lovntpfl 
BcsBI AonniaTn 
BcaDIRimfZ 
Bca Santo Sofrtto 91 
8a,OfStoH1o93 
Bangkok Bh«(M8ilr) 
BooCarp97IMtMy) 
Bk Boston 00 (Cop) 

Bk Greece 917M 
Bk Gram 93OT 
BklraftmdBt 
Bk Ireland fl 
BkMordraol9a 
BJc Montreal 74 
Bk Montreal 91 
Bk (tow York 98 
Bk Nova Sattlo 81/93 
Bk Novo Scotia 91 
Bk Scotland Pern 
Bk Tokyo 91 
BkTokwS? 

Bk Tokyo FeOU/91 
Bk Tokyo Oectt/91 
BankaroeficoO/S9» 
Bankers Trust 00 
SpnkeraTniitH 
BH Capital 98 
Ball Fin tom 
Bali 97 
BW lot 95 
BU Int 99 
BMlnt<3(MIWrl 
Batodo8UR97Cop 
Ba Indower 79 
Bue89 

Btce97(Qwi 

BkeJaa 

Bta»W 

Ba lodnuizTricop) 

Bra 95 

BwftiCral 

HnoSS/BB 

Bitp«W94 

Bra 99 

Bra 89 

BflP 88791 

BnpJuIN 

BnoBSIMtuyl 

BqPartbo*P*ra 

BenHormto/w 

Bardovs Bk Fwposw 

BarctavcO/59S 

Bor dors O/S Ftara 

BoraortO/504 

Bettlum Ptni 

Betakim Dec99/MMIti 
BrighffflDOlMftlyl 
BeWumOO/ttS CMtti) 
Bdstwn JiiOS 
BVMOU8V91 
BOghimfe/e* 

Betotura 0099784 
CcaiS 
Car rs 
CneoW/TS 

cmw 

Cut oo 

ObcTSdK UPttUYI 
QbcOTS 
CBtcWCWklvl 
DbC« 

CortamSH.9* . 
OenlRd lnr97/m 
C+*ni*t9W5 
OtaMMonOTSfl 


Coopon Next BM AIM 
7K 10-12 99.95 IB0DS 
Bta TWM miBWflJO 
8k. 8841 9962 10847 
n* 30-11 9838 9950 
fek IMS 9930 9948 
4w 20-11 H040H03S 
Ilk - 9949 *959 

I 8+13 995* 10848 
Sk 3904 18X910038 
7W 09-12 9948 9958 
X2SJS29-11 99J8 **48 
H- 39*11 99J0 9940 
0504 *940 9945 
M 1144 9725 1865 
Oh 09-12 9962 99J3 
SVS 1X039950 10040 
89k 1+W9SJ0 90J0 
Bfe 1MJ9038 91* 
m 29-u 9958 mio 
few 2741 9975 WLSI 
7V. J0-12 108A51H65 
aw 2i4i nxunooji 
W, JD44 1005*1114* 
BM. 1501 1883210822 
Ota JM*B073MQ4i 
M 134) 1M27N847 
1+05*977 *947 
Ilk 2(4* 1804518061 
0W 2901 1804010069 
S-c 8843 100.I210U2 
84 D-U 19052100.13 
BM 304! 8994 MOM 
Bk 11-17 9951 18841 
Bk 2M3 18862(8832 
BH> U-11 180.1910069 
9940 18040 
BM 0M2 976S9828 
8v. 17-12 M2SIP065 
Bw 1144 MO.I710B27 
Ik, 1741 9)42 9952 
2005 9963 9933 
04% 3+03 1804010051 
Wt JM2 IDUSIWa 
tr. 18-1)8967 9937 
VU 2241 9997 MU7 
Hi 1143 MQ34MU4 ■ 
BM 18*1) 9*JD M40 
04k 0+0] 1016010140 

*h 7141 njons 

ofe 3i4i naflnoo.10 

M 13-T2 MBJBHMB 
7% 15-12 WJB3UU3 

*4% n-u-iatoomur 

W> 0+03 101.1SWT.ZJ 
no 2*41 9M8 T8848 
Hi 1749 99J2 9041 
BW 11-12 H0J4100J4 
IX 0443 MQ07IH.17' 
8X 0241 100.1210062 
Hi 31411013910169 
»» 0145 100*10658 
Ilk 0943 180.010031 
H< D42 1D0M1B8.14 
in, 13-u nuEuais 
IX 2M2 99.M HUM. 
IX 37-11 9965 9945 
8W 1741.9947 9*67 
1RM18&U 
nw own wejoomw 
Wi 1149 NB.11 18861 
Bk 1242 10ILflM05B 
OX 15-11 10UI7M0.17 
8 09-tt HWHM0.H 

- iiKUiaiaa25 
th 13*11 100.1710822 
IX 3+83 99JB 9955 
Bk 1941 U8J7MQ.17 
«% 30-1)9X71) 9US ' 
Bk 3141 NQ65 UIl 5B 
ID: 29*11 9948 9958 
l4f2SlJ.ll 9947 9947 
Bk 82419954 nOM 
Bk 3141 NLOtOBSI 


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CawMltoxt BM Aikd 


Oms Mon Cora Of 
Cbaso Man Corp Oo 
Chase Man 97 

□tendoolM 
OtomtaH 90 (Wklyi 

Chemical SONovta 

Chemkol Feb 97 
Chemical Oct rt 
ChrlihanloBkri 
Christian la Bk 9* 
CIHcan>05 
Ciltecrp AuBWnmvl 
atteoni Scuta 
CBIcoraPtopta 
aitaon>97 
Ciikurafe 
□Hearn Pgrp 
atfcorpPtop97 
Coowricn97 
Conunarzbfc FiM9 
Cammarzbk Navso 
Comm llrb Montreal 91 
Coma Fin CIcOnMHi) 
CoraciiOf EaroaeOl 
Cradtao93 
031479* 

CcH0/95 
Ccf 9* 

Ccf 97 IMttdy) 

Cot 92 

COprae 17/92 , 
O-OtiNord!?' - 
Cr Fonder 0ef9i 
Cr Far Export 92 
Cr Lygangh 93/ta 
CrLrorenii 98/97 
Cr Lyannois 89/9* 

Cr LronnakflTH 
Cr LyannaMW 
Cr Lyonnais Jnf279a 
Cr LnnnaU97 (Cap) 
Cr Lyonnais sa 
Cr Lrtmris jgno/9* 

Cr itoHenoiaa - 

CrttottaflOI 90794 
Cr National 00 
OtdlfenstonM 
Crad Horat MtH 
Cr Itnlkn 77 
Crosstood Sot 05)277 
DalleM KongvoM 

Dang 98799 IMDlIrl 
Don Nondn NovN • 
DnNank*O«90 
Dawnant JonM/W - 
Denmark W 18/90 
Danmark 99794 
OtoEroteCmr 927W 
Oresdw Rn93 

Omikm'FtaM 

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Extartar Int 91 7M 
Fcrra*fe«UUtihr) 
Ferrmrf»92/n 
FerrwricMc T7 
FfakmdfelMWrt 
FbnOsh Paper 90795 - 
FlnUostan 91/9* . 
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First Bk SWH97 . . 
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Fbst Chicago 97 
First Chicago 92 

FinucweraoN 
FirUCUy Texas 95 . 
rtrit Intar 95 

Ford 91 - 
Fortune S+L 92 
Full Int M794 
C w ll nrace 19772" 


ix o+s nxuow.io 

IX B-ll *948 9958 

2440 99 M 

8X 77-72 100JSIB0J6 
8 2M1 9848 MJ3 

IX 29-11 9940 97J0 
n 15-11 99J5 9945 
«*% 0*41 99X3 9*53 
8X D-n 9950 18025 
BVk 1+0710041110075 

8J2S 35-1) 9949 9959 

I 1+1)9148 MX 
•X 1M1 9958 HOOD 
W 3V41 I0U0HQ30 

77k 18411 9948 99JR 

Mk 12-n H140UUO 
SX 1MI 9*J0 10030 
8X 3141 1012010070 
ex 37-12 9920 99JS 
M 2V119957UU7 
m 20-11 ML3210U2 
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IX W19948 99X 
M* 2144 10003100.13 

IX 2441 99J3WX 

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m 094* 110.1310023 
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Btk 2743 9949 99J9 
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BW 0-13180*810041 
V* 2+01 HB43IBLU 
Me 1311 *955 10045 
BW 1341 IDOJXnOO.il 
IX 1HH 1804118021 
Me IMM U&mia23 
IW 00-01 180.HW20 

m 29-11 1004810058 

M 27-11100400858 
BW 2141 WX1DO40 
«k - 9947 WjH 

7k% 1041 HMSHB.n 
IX . 18-12 18143)8073 
BW 2141 10LI5T8U5 
M 1140 100.1918024 
8425 2M3 1RU9U0J9 
IX 041 1802711037 
BW 2743H0IETMU 
7*k M-n99Rn«UB 
0543 9920 99 JO 

85% U-11 IHU8H8J& 
M 89-12 H0.1DH0L3D 
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m 8841 99.97 HOLD? 
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Wi 19421807310143 

BX 29411104(10114 
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1x 7911 985710047 
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BW. 2241' 9244 9141. 

M 4W2995I WOK- 

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GenBnonce 92794 

G2D89 

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Gib Perp 

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Giro 91 

Gf Amor-Nut Sov 92 
Great Lukes 5 +l *7 
Gt Western 92/95 

GriadtavsM 

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Gt WkStara 89/94 
Hln Samugt 98 
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toefcnd 95708 

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Mr 9 

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Italy 99 
Italy 89794 
Italy 85 
C1MII7 
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Korea Dev Bk 88/89 

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JW 3*03 9952 9982 
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■W 29-11 9740 9940 
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8W I94T99J3 99J3 

8W 01-«W57 H007 

BW 1591 99JS 10025 
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BX 30-11 mOBIOOJS 
£% 1748 na-inou 
£■ 3M2 10045100.15 

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Hk 114299*4 Mjf 

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Mk 8944 lOtMHnjO 


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CURRENCY MAPIfFK 


INTERNATIONAL HER.ALD THIBLTW, THURSDAY. NOVEMBER 7, 1985 


Dollar Continues to Declme ilgainst Yen 


CmpiUdfyOurStaffFnm Dapatcha 
t LONDON — Hk dkfflar f«U tor 
jae tmrd coosecutive day a gnigrt 
the Japanese yen WednSdav. 
dropping to levels last seen in eariy 
1981 , and also edged lower against 

most other major currenn'* ^. 

e«*a^e dealers said 
the dollars conmnuog slide against 
the yen was keeping the American 

cwiency from rising in Eunwe. 
Analysts said that they expect the 
yen to rise further because Japa- 
nese officials have said day wiD 
raise interest rates, making yanle- 
nonrinated in vestments more at- 
tractive. 

Most maiicet partiapanis believe 

that the dollar mil drop below 200 
yen in the near-term, dealers said. 

In London, the dollar closed at 
205.10 yen, down sharply from 
Tuesday’s dose of 208.05 but off. 
only fractionally horn its opening 


205 . 65 . Earlier io Tokyo, where 
trading, ends before it begins in 
Etm>K]he 4 oQaridored at 206 J 0 
yen, downfro«n 20735 oaTuesdiy. 
. Delias said duu the markets 
continue toibcos oa the doHn-ycn 
rate, Bmitiag the c or roacy's ability 
to recover against European cur- 
rencies. In London, the dollar 
dosed at Z 5990 Deutsche marks. 
Up slightly from its opening Z 5980 
but down from Tuesday's dose of 
2 j 6155 . ' - 

The British pound, meanwhile, 
rose to 5 L 43&5 from Tuesday's 
dose of 51-4330 mul mi opening 
51 ^ 325 . Dealers said there was 
very fink interest is sterling, even 
at cmrou Jowei levds against con- 
tinenta] mtreodes. It shmied to 
3.7335 agsmst the Deuische aaA 
from an opening 3.7425 and Tues- 
day’s dose of 3 . 746 a 

in other European markets 


Wednesday, the dollar was fixed in 
.Frankfurt u 16048 DM, down 
from 16110 at Tuesday's fixing: at 
7.9290 French francs in Paris, 
down Aron 7 . 9565 . and at 2.9330 
Dutch guilders in Amsterdam, 
down from 2 , 9440 . 

In Zurich, the dollar closed 31 
11428 Swiss francs, down from 
11443 on Tuesday. 

One U 5 . bank dealer said the 
market followed the lead of a few 
large operators who were simply- 
jobbing the dollar around within 
the current narrow range, turning 3 
profit by selling at the top end and 
baying at the bottom. 

He said the dollar gained sup- 
port at the lower end of the day's 
raqge from fins UJL interest rates. 
Eurodollar deposit rates dosed 
1/16 paint above Tuesday's dose, 
helped by a firmer UJS, federal 
funds rate. {Rnaers, AP) 


OmanReduces 
Crude-Oil Prices 

l ' mied Ptm Iw ravin me! 

TOKYO — Oman, an inde- 
peodeni Gulf oil producer, has 
lowered the price of its crtMle by 
17 cents to 527.20 a barrel in 3 
shift apparently caused by high- 
er ofltptn freon OPEC, oil in- 
dustry sources said Wednesday. 

Oman apparently decided to 
act after output of members of 
the Organization of Petroleum 
Exporting Countries surged 
nun than 2 million bands 3 
day in October following a 
stalemate over pricing and out- 
put at the carters summit meet- 
ing Ocl 4 , the sources said 

Although Oman is not an 
OPEC member, it follows the 
lead of member nations. Non- 
OPEC Mexico and the Soviet 

Union increased thesr crude oil 

prices as of New. I. 


THE euromarkets 


Secondary Market Higher; $ 400 -MilUon Perpetual Is Offered 


By Christopher Pizzey 

/toilers . 

LONDON — The doliar- 
straight secondary market dosed 
higher in fairly active trading 
Wednesday. Some dealers noted 
increased retail buying, particular- 
ly by Swiss investors, dicing die 
day. In the primary market, a fur- 
ther perpetual floating-rate-note is- 
sue ranking as primary capital 
emerged. . . 

The $ 400 -xmIlian perpetual was 
for Hongkong & Shanghai Banking 
Cotp. and pays M point over the 
mean of the three- month London 
interbank bkl-and-offered rates, or 
UmeooL It was quoted on the mar- 
ket at 99 . 80 , inside the total fees of 
25 basis points. 

The lead manager was Lloyds 
Merchant Bank Ltd. Dealers noted 
that this issue also displays the bet- 
ter terms that issuers in this sector 
of the market have recently been 


able to obtain. Back in July, the 
same borrower issued a perpetual 
for the same amount, but it paid M 
over six-month Libor. 

Lmfxn Carpi, a mm of Lincoln 
Savings & Loan Association, issued 
a $ 2 S 0 -m 3 ika co HateraKzed float- 
er paying Vi point over three-month 
Libor. The 10 -year issue was 
quoted at 99 SI, inside the 15 -bar 
svpornr selling concession and 
wefi inside the total fees of 40 basis 
points. The lead manager was Ban- 
que Paribas Capital Markets. 

A novel combination issue 
emerged doring the afternoon for 
IBM Credit Corp. It consisted of a 
S 50 ~ million, yes-linked dollar 
straight and a S 50 - nuUkat, yea- 
-hnked floater. Both issues will be 
redeemed above par if the yen/ dol- 
lar rate is higher than 169 yen to ihc 
dollar, but will be redeemed below 
par if the rate is below that leveL 

Thestrai^ht issue pays 10 V per- 


cent a year over H) years and was 
priced at ! 0 I, while the par-priced 
hosier has the same maturity and 
pays H point over six-month Libor. 
The issues were lead-managed by 
Nomura International. 

The straight issue was quoted at 
a discount of V* point to the issue 
price by the lead manager, while 
the floater was quoted at 99 . 60 . The 
straight pays fees totaling 2 per- 
cent, while the floater pays fees of 
70 basis points. 

Jy-gcnrwi dcBar-suaight issues 
edged up during the day, with some 
demos citing steady retail demand 
as one of the main factors behind 
the gains. One trader at a Swiss 
bank said: “They Retail chemsj like 
the way the U.S. market has been 
creeping up. There’s value around 
in our market, so they’re buying it." 

Another dealer at a U.S. bank 
noted that sentiment has been 


boosted by Tuesday’s heavy oil- 
price cut by Venezuela. 


Goh Industries to Sell 

2 Units for $135 Million tove for «*=» stock, market 60 . 

unlike tries: eversbodv else, don't 


Anticipating 
A New Rush 
From Abroad 


tCootinoed from Page Hi 
to understand naricta other than 
their own. This has enabled them to 
des-elop a disciplined, more hard- 
headed approach to Wall Street 
than Americans generally ha’-e." 

He Countered the frequently 
heard criticism that fereigners are 
mere trend foiicwers on Wall Street 
by citing the case cf Edwin Wydier. 
manager of the L .S. stock portfolio 
at Zurich’s Swi&s Reinsurance. 

In the law 1970 s. when the Car- 
ter administration was ansouneice 
deep cuts in the defense budgeL 
those stocks p'.ucged But Sir. 
Wydler per xi wee that companies 
emphasizing high-tech military 
dectrouics could nevnhelcsspras- 
pfir- 

“He tdcnriTied ±ree of them — 
E-Sy stems. Lora: and Raytheon," 
Mr. Dcssauer recaTIed. “By 19 S 1 . 
Loral, for example, had gone up 

right times. I didn't see a major 
U.S. brokerage firm recerrunecding 
the defense dectrcnics industry un- 
tfl 1982 . Ironically, waiting until 
the market or a particular sector 
has made its mo. e before getting in 
is what the Swiss are often accused 
of." 

Mr. De&sauer credits the Swiss 
with a truly cosmapo'atan view. 
"They don’t have any particular 


Burnishing Wes 



Vtuifd Press Intmvnuewi 

NEW YORK — Colt Industries 
said Wednesday that it has agreed 
to a leveraged buyout of two spe- 
cially steel subsidiaries by a man- 
agement group and an employee 
stock ownership plan for 5135 mil- 
lion in cash and stock. 

Under the plan. Crucible Materi- 
als Corp., with five facilities in the 
Nonbeastern and Midwestern 
United States, and Crusted Ltd. of 
Sheffield, England, would be taken 
over. Colt would retain a minority 
interest in the units, but declined to 
put a figure on it The units had 
1984 sales of $288 million. 


(Lsc. 

fed the need to defend it." he said. 

And he behr.es the history of 
foreign shrewdness goes way hack. 

“The straw that broke die back 
of ihe reins a :c<ci market in 1^29 
was foreign selling" be asserted. 
“Investors wh o followed the foot- 
steps of Torriga investors prevented 
massive losses." 

In addition to avoiding a Wall 
Street crash, he believes that taking 
the lead irom nos- Amer icans is a 
reliable method to time buying and 
selling ir. the L .S. majkeL “It can 
give you the courage io buy low 
and sell high, just like ibr, usually 
do." 


(Cootmoed frost Page II) 
proposal to stimulate high technol- 
ogy in Western Europe. 

By selecting Hannover for a sec- 
ond' conference, Chancellor Hel- 
mut Kohl of West Germany was 
attempting to accomplish two 
things, according to Gmnan gov- 
ernment officials and political ob- 
servers. 

First, he sough) to bolster his 
Christian Democratic Union parry, 
which faces a sough and crucial 
state election next June. Second. 
Mr. Kohl wanted to boost Lower 
Saxony’s premier. Ernst Albrecht, 
a close friend. Mr, Albrecht, who 
first was elected premier in 1976 , 
was a CDU candidate in 1979 for 
the chancellorship and is expected 
to try again for the office if Mr. 
Kohl derides not to seek re-election 
in J 9 S 7 . 

Mr. Kohl's coalition fears that if 
the opposition Social Democrats 
win the provincial elections next 
June, the Kohl coaliuos could lose 
control of the Bundesrct. the upper 
house. 

Unemployment is expected to be 
the predominant issue in the cam- 
paign. 

Flanked by the premier in his 
opening address Tuesday. Mr. 
Kohl praised the Albrecht adminis- 
tration. which, since it won an ab- 
solute majority in the state legisla- 
ture three years ago, has “set fine 
examples in the development and 
application of new- technologies," 
Mr. Kohl said. 

Equally important. Mr. Kohl 
sought to emphasize that southern 
German slates, notably Bavaria 
and Baden-Wurttemberg. have no 
monopoly on high technology and 
that there is hope for the north. 
State officials were delighted with 
the gesture. 

“We know a lot of our industries 
have gone south, but our reputa- 
tion for being an agrarian region 
amply is unjustified," said Birgit 
Breuei, Lower Saxony's minister 
for the economy and transport. 

“And we think we are trying 
harder than any other state to at- 
tract new- advanced industries," she 
said. Several of Lower Saxony's 
leading companies displayed their 


latest technology to conference del- 
egates. ranging from automation 
and transportation to underwater 
exploration exhibits — the biter by 
Hannover-based Preussag AG. 
"We hope to have candidates for 
Eureka protects." she said. 

The .Albrecht administration has 
concentrated on building up znd 
modernizing Lower Saxony's 80 
state and private research organiza- 
tions and 2 t universities and poly- 
technical institutes, notably in 
Hannover. Brunswick and Got- 
tingen. The stale is spending about 
1.5 billion Deutsche marks tS 574 
million l a year on these projects. 

The idea is to attract West Ger- 
man and foreign companies to the 
state in whai Mrs. Breuei described 
as “a partnership between academ- 


ics and industry," notabiy m ssiir. 
sectors as electronics and is biolog- 
ical and medical technologies. 

Federal high-tcchnuIjgv-dr.eT- 
opmeni assistance, via such help as 
subsidies, totaled about 6.5 hiiiior. 
DM ia 1984 . Of that amount. Low- 
er Saxony received about 45 ? mo- 
tion DM, compared with 97 j ntii- 
hon DM for Bavaria. 1.6 bi";on 
DM for North Rhine-Wesrphalu 
and 1.4 billion DM for Bader.- 
Wiirtiemberg. 

About 70 companies, mciudir.? 
computer makers Siemens AG <■! 
Munich, Nixdorf Computer AG » f 
pjnderbom and Toshiba Corp <d 
Japan, recently established a i^j^; 
research and training (.enter in ap- 
plied micro-electronics in Bmr,:-.- 
wrick. 


Conipan}' Results 

Revenue ana profits or losses, in millions, are >n loco 1 currencies 
unless otherwise indicated 


Caudi Sweden 


MacMillan Btoedel 
HQur IMS I MM 

RtvmiM SOT.t aaifl 

Prof In 13 ?3 

Per snare 8.17 OSS 

f MoeriM ins ISM 

Hewenue 1 . 73 a IjSM. 

Prefit 11 (oMl* 

Per Snoi-f Dio — 

o : ms; 


5 KF 


t Man ms 

revenue 

Prein 

Per snare. — . 


ISIS 

ujoo 

1 . 13 a 

3 I 3 S 


ISM 

; 3 . 17 a 
MU 
1 M 3 


Moore 

SrO Quar. ISIS 

Revenue sn.i 

Profits 313 

Per Snare MS 

SMWmms ISIS 

Revenue IJI 3 . 

Profit *S J 

Pee Snore 137 

Results »i US. dollars. 


ISM 

Mu 

»3 

034 

ITS* 

l^tO. 

103 

0 « 


Hoag Koag 

China Uflhf Power 
Year 1 SSS ISM 

Profits 13 tJ W 8 J 

Per snare 13 * 131 


.Vlherlandti 

Philips Ghwliamp. 


I'nlted State* 

Cincinnati Milacron 
3 rd Oear. 1 SSS ISM 

Revenue t *-t 0 1 M 3 

Net me. raise 0 S 7 

Per Snare — 035 

f MOOflH 1 W ISM 

Revenue £ 33 1 *Su 

N«f Inc. ( 0.473 1 X 4 

Per Snore — 0 J 7 

a: less. 1*85 opis include 

error oe a! UaJ million 

Continental 

S rd Quar. 1*85 ISM 

Oder Wet 177 £83 

Oper Snare— 015 1.13 

* Moaflrt 1 * 8 S ISM 

Ouef Net iC 7 .i 33*0 

Vott snore- isi «.J* 

John Blair 

Sri Quar. 19 ES ISM 

Revenue S&a 2 IS*. 

Net Inc . .( 0 ) 10.17 334 

Per Share — Me 

* Mounts 1985 ISM 

Revenue 7 lu MSJ 

Ne< Inc (a-. 21 « H 3 * 


3 rd Quar. 

Revenue 

Profil 

1*85 

13440 

1755 

1984 

IOI*C 

2410 

P*r Snore _ 

a: toss. 


mi 

Per Snore 

081 

1 M 

Mesa Petroleum 

9 Monin 

1*85 

1*84 

3 rd Quar. 

1*85 

1784 

Revenue 

41820 

J 7 J 3 C 

Revenue 

no 

ICS. 1 

Profit 

611 J 

7858 

Ne> me. 

112 

132 

Per Shan. 

2 A 4 

ja 

Per Snare 

016 

Ola 


* MoatM ifU IfM 

Revenue 776.1 3 :' ? 

nbi inc iJOe 3544 

Per Shore t;e li 1 

Her co 

Ira Quar 1985 1*54 

Revenue ;*43 

Ilf ini 113 

Per snare — 037 ;« 

• Manftis 1*85 im 

Revenue 341 J Ml 

Net Inc MJ X>- 

Per Snare — . ilM i> 

Rockwell Inn 
«m Over. iS 85 tsK 

Revenue 1 JW Stir.. 

Nel inc. 1 «C 3 i;»C 

Per Snare — 0 .-M i.r; 

Year 1985 ISM 

Revenue — ‘.latt. J 31 '. 

NCI Int ___ S»ia 4 « i 

Per Share — *x :i i 

Sun Chemical 
IraOuar. 1*85 1*84 

Revenue 33 * - 

Net inc ITS 1 12 

Per Snare — CCS sfo 

IMOMM 1 SU 1 VK 

Revenue mm : e'l t. 

Net me t» U -3 

Per Snare 1.12 : s. 

MW nets u-esuae leases -■ 
SUfMki in auarfmr crut »- 
J 43 WW 0 Ai rmonrfM 

Tanifem Computers 
uti Quar. 1*85 WM 

Pevenue 17 U 1 SS .1 

fief me — 11 1 r’o 

Per Snore — 0 S 7 ZU 

Year 1985 1 *M 

Revenue 624.1 £333 

Ne! InC 34.4 42 * 

Per Snare — C £3 13 i 

less eeor-orr loeiuOe; eoir a' 

sr.'m iiMn 



IVices 


NASDAQ PtlcM at of 
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Via The As sociat ed Press 


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11 V MrcnCt 
24 V M/dBcs 
12 ft MeriBt 
11 % MervG 
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17 ft Me&tPa 
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156 MonJCl 
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37 ft 32 % 
10 ft 9 W 
26(6 25 W 
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12 T 1 V 
9 ft 9 
20 V Mft 
35 34 % 

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3 V 3 W 
CV 8 % 
32 V 3196 
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19 % 1 BW 
13 % lift 
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4 V 4 ft 
36 % 35 ft 

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15 MV 
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18 W 

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26 ft 26 
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30 ft 16 W SavnF 4 
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17 10 W SctalTr 

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Mb 7 SClSfl 
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7 ft IW SEES 
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30*6 I 3 W 5 helovi 
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31 W 31*6 Shontv 1 .IS 
15 W is snansos 
10 % sv silicon 
17 ft 9 ft Silicons 
20 ft I IV SillcVal 
24 ft 11 V SilKJM 
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16 W 13*4 Selre 
16 3 ft StarSur 
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UW lib SlewStv 
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34 ft 33 V 1 3 f * W 
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9 ft 9 9 ft 
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BW TeiPCll 
IV Telwid 

* W Tetaos 
v. Teimn* 
3 TermDl 
8 W TherPr 
6 % Thrmd t 
15*6 ThraN S 
5 W Thortec 
5 W ThouTr 
6 6 T.miEn 
9*6 TmoFib 
% Tiararv 
8 b TollSy s 
10 TrakAu 

6 b Triads* 

W TrusJo 


11 

U i W 

61*5 
1181 
J 
76 
1510 

* ,J .I 

400 

I ft 

2 % 

114 

It 

512 

13 

254 

.40 U U 


t 


M 2 A 


9 "ft 9 ft 

1 ft 

U 6 Uft 

13 V 13 V 

10 % •*» 


B «w 

Ii 

raw 


av 

B-* 

.’6 34 b 

r.s ravj 

hu 

aw 

9 % 
26 b 
7 % 
7 ft 
AW 


V 

h 

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7 

rai .6 raw 

•ft u 

17 b 73 
11 % Ub 
9 "ft av 
25 V 25 


9 W 

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3 t 

ir-» t ft 
3 % — -6 
13 V - % 
10 + % 

22 m 4 ft 
8 b 4 ft 

24.6 

17 W 

2 S + ft 
10 

17 V •* V 

4 r - 

j*T 1 

rw— .6 

6*6 — St 

5 

23 —-a 

11 % — "r 

25 V + % 


U 


24 W 

24 % 


IB VJSLIC& 
13 W UTL 
30 % 5 Uttrsr 

aft WW Unomn 
13*6 7 V Until 
Mb UnPmtr 
54 23 W UnTBc 4 

26 b I 1’6 UACms 
I IW BV UBArck 
Mft 21 ft UBCo! 


80 12 


Out 


33 V 

Sb 

an 

aw 

25 % 

25 

48 % 

33 

20ft 

13 

t% 


184 
55 

J 453 
873 

lib 

1891 4.1 23 

1 .S 0 18 9 

M 3 1074 
. 1 ST U 41 
188 4 J 66 
* 

Hit J II 
1 AA 92 SJ 10 
3 £ 
eO 

180 17 45 E 
IM 
110 

JS J 859 
12 27 27 

JOe 15 3*99 
1 J 0 13 
JO .9 


3 % US Shell 
Mft uSSur 
25 % USTrs 
17 b USIoln 
14 W UnTeiev 
SW UVoBs U 4 16 
l<b L/nuFrn 
9 V UnvHII 
6 V UFSBk 
3 1 - Uscof 


87 o J 
J 8 59 


415 

112 

3 S 

177 

1*3 

693 

240 

212 


25*6 24 W 
15 14 V 

9 k IV 

i 3 w raw 

raw raw 

2 AV 26 V 
53 V nv 
25 ft av 

9 W 9 W 
25 W a% 
ftb tW 

ir- I? 

f t 

«ft 11*6 
4*6 4".6 
77 % V 
4 % IV 

3 3 
29 a . 

AW 1*6 
28'. 6 19 'e 
36 b 3*6 
22 ?lft 
2 *W Mb 
45 W 45 % 

18 ft 15 b 
12% U 
13 V 1 C% 

4 V 4 V 


25*6 A .1 
15 

ev + - 
11 - % 
12 b 4 % 
26 V 

52 V— % 
21 V— 1*6 
9*6 4 b 
25 b 4 ft 
6 * 6 - « 
17 

6 ft — ft 
U-b— » 
4 ft 

a% 4 % 

4 4 ■, 

a — 6 
av * ft 

4 ft 

3 a ft 4 •• 
21 * 3 — ft 

2 «W 

45*1 

18 % — •■« 

I Tft 

! 5 V * ft 

4V 


MW 

12 

arv 

27 W 

42 ’u 

IfV 

15 % 

6 b 

MV 

13*6 

MW 

MV 

raw 

a 


AV VLI 
7% VLSI 
3*6 VMX 
6 vaiidLo 
8b ValFSL 
26 W ValNII 
Ub VqnDul 
4W vanzeil 
2W Ventre. 

13b Vlcorp ... „ 
ob VieaeFr J 2 e 11 
9 W Viking 
13 V Vi rote* 

5 V V DOCK I 
14 % vallfnf 


1 J 0 33 
AO Z1 


12 e A 


207 

7 IS 

376 

770 

136 

1653 

150 
21 
160 
395 

26 

10 

151 

470 

12 


5 b SV 5 % — Vj 

«% ra 12 — b 

4 ft 4 b 4 ft 4 'Jt 
7 Pi Iht " » 
17 lift 7 *W — ft 
36 "-» 35 V 3»'.6 * - 
19*1 19 b 19 i 
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5 . 4 V 4 V. — b 

II V 18 b 18 r 4 , 
7 ' t lb r, 

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20 19 V I 9 V- % 

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19 18"7 18 *2 


w 


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l*V 

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25 % 

3 B 

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Mb 

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18 V 

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41 % 

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7 W 

24% 

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17W WO 40 

10 WalbC S 
SW MfltrTel 

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Mft WFSL S 
10b WM5B 

6 Wpvaii- 

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5W YfiTlAi 
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3 Wiacotn 
31 WHimi 
7 b WffiAL 
BV WmaSn 
4W WIluiF 
Tft Windmr 
MW WiserO 

11 % wood no 
14 worms s 

tV Wriier 

21 % Wiman 


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24 18 


1.74 78 
60 21 


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1*5 38 


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60 37 
6 b 46 

.ise u 

80 JJ 


57 

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13 fi 

48 

sa 

348 

I 6 B 

80 

1 U 

7 

ia 

53 

21 

854 

631 

205 

144 

28 

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SI 

14 

213 

63 

69 

750 

T 3 S 

19 


l*» 

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10 

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Ml 

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12 *" 

17 b 

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10 % 
JAW 
4 

Aft 

43b 

13b 

19 

SV 

AV 

16ft 

l«% 

10 4 

8 b 

a 


Ub 

12% 

9b 

aw 

28 % 

14*1 

r .4 
11b 
16 b 
Mb 
7 b 
I 3 *i 
16 b 
U 

aw 

3V 

4 W 

42V 

IJ 

19 

Sft 

4ft 

16 

13 

ir-s 

ev 

21 % 


19 ft 

13 


♦ m 


22 'm * ft 

Mb f b 

1 4 ft 4 ft 

r»— is 

Ub *■ 
Mb — W 
Mb 
7'. ♦ 
13b ♦ '« 

10 . - ft 
10 - % 
14*1 f V. 
4 

4ft 

43ft - ft 

13 — b 

14 

5V 

4 V 4 ft 

li'i + b 


BV 

13 V 

17 V 

1 ft Yeoec 294 

5 V Alcor 540 

10 % Xidn 794 ] 

2 % 

4 b 

13 

2 *m 

4'.ft 

2 *. 

6 W 4 V 
lift 



HBM 


■il 

a 

Mb YlowF s 54 13 533 

34>. 

arv 

34 


Z 



1 

sow 

5 '.. ZenLfti .101 A 2820 




» 3 V 

raw zteoier .na u m 

raw 

17 ft 

raw - » 

«ft 

Jl Zionur 1 J 6 3 J w 

41 

41 

41 

5 V 

2 % Zitel 10 

?ft 

7 ft 

2 ft 4 .1 

Ub 

3 % Ziygd 52 


Sb 

5 W — W 

»•«. 

6 b Zondvn 881 .7 3 » 

IIW 

10 b 

10 b- ft 


Sohirioo lo devious Puzzle 

























JPage 18 


16 7 ]8 |» 


jo In haTis 


50 

51 




a 

52 





S4~ 





55 




| 

56 

56 




■ 

59 





60 

61 " 





62 




H 

bT 


Solution to previous puzzle un page 1 7 


I Dust panicles 
■ 6 Sapient 
10 Countenance a 


i 14 Across 

14 Felony, e.g. 

15 Japanese 
i plants 


16 Basilica area 

17 Star of “Two 


17 Star or “Two 
« Women" 

18 Status of many 
■ a retiree 

20 Cadmus’s 
i daughter 

21 Russet or 
i Wjnesap 
23 Prankster 
S4_Readily 

evaporating 

26 Delivers ditty 

27 Actress 
Anderson 

28 Lathe insertion 
31 Knitting 

35 Goddess of 
; "mischief 

36 Sioux 

37 Falls short 

38 A.F.B. in 
-Korea 

39 Comparative 
vending 

40 Haven for 
. Dantes 

42 Earthy 
fortification 

44 Sp. wives 

45 "Rule, 

■' ’Britannia” 

• • composer 

46 Small dagger 
50~.Shop of a sort 

■' Xeu- York 


52 Hit hard 

53 Cry of 
discovery 

54 Need 

56 Ait or cay 

58 Sweeten the 
kitty 

59 Erstwhile 

60 Reliever 
Gossage 

61 “ in the 

Attic": 

Heilman 

62 S. Korean 
soldiers 

63 Strapper 

DOWN 

1 When Henry II 
became king 

2 Maine U. town 

3 Halo-Austrian 
Alps district 

4 Scotch uncle 

5 Solon 

6 Humble 
petitioner 

7 Fred's dancing 
partner 

S Auctioneer's 
“Amen" 

9 Ar-tee 
connection 

10 Teem 


1 1 Pasture growth 50 fiff 

12 Cassowary- 51 Cartoonist 


like bird 
13 Diamond 
protector, for 
short 

19 Baker's 
topping 


Peter 

52 Chinese: 

Comb, form 
55 Rocky hill 
57 Late”Barney 
Miller" actor 


7ifxtfx. ,sSted bv Euccne Maleska. 


BENMS THE MENACE 




\ 


V v i 


mm 


PlM p 


, JbaWfe.WllSWHAtVE A . £\|BfffTlME 1 eOOVER. 
mi’ BAY NAMED AFTER ItiM ? THERE, HE SAYS 'TODAY 
' JUST ISN'T MfW.'' 


THAT SCRAMBLED WORD GAME 
$ by Hand Arnold and Bob Lae 


Unscramble irtese lour Jumbles, 
one latter to each square, to <orm 
four ordinary words. 


TELIT 


RADAW 




RAYLEY 


VIRFED 


A COMF1 FWEP 
MI©HT OWL I© A 
MAW WHO STAY© 
UP ALL NIGHT — 


Now arrange the circled letters to 
torm the surprise answer, as sug- 
gested by the above cartoon. 




INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 7, 1985 


PEANUTS 


LIFT ME HI6HER..UHEN 
HAUEY'5 COMET COMES 
5Y I WANT TO SEE IT... 


? N0U1UANI7 


ME THE 
. BINOCULARS , 





STUPIP 

BEASLEi! 


BOOKS 




MOVE YOUR SHADOW: 
South Africa, Blade and White 


Mver, Ldyvdd 


By Joseph LelyvelcL 389 pages. S 18-95. 
Times Books, 130 Fifth Avenue. New York, 
iV. Y. 10011. 


BLONDIE 


Reviewed by Vinccnc Crapanzano 


t! . MRS TpS M . fcwoj, ALEXANDER HAS BECOME JUUUS HAD A 0ODV 1 — ■ » ^ ^ttrrT 
dithers > Alexander quits muscular r — fuu_ op muscles when ! ©one to his head 

■». ^ ^ ^ J WE FIRST MET » . \ . ~ 


A NYONE who has managed to withstand 
■what Joseph Lelyvdd calls the “riot of 


euphemisms, analogies and fatuous forecasts" 
with which white South Africans like 10 dan- 




* dfl 


1 J \ 


te A-i 


Mb 


ons irate their decency is left with a heap of 
broken images. Like me memories of an unbe- 
lievable nightmare, these images demand some 
son of exorcism. “Move Your Shadow” is in 
some ways an attempt at exorcism. Ldyvdd 
expresses the anguish, angary confusion mid 
frustration he feu during the years he was 
writing from South Africa for The New York 
Times. His book is, however, no self-indul- 
gence. He rarely sacrifices the events, be de- 
scribes to his own reactions. He is the impas- 
sioned vehicle through which the “hop of 
broken images" — my reference is to Eliot's 
“Waste Land" — form an extraordinary pic- 
ture of Sonth Africa. 


22 Ralph Rack- 
st raw's ship 

25 Old. in 
Oldenburg 

26 Literary 
language of 
India: Var. 

28 Turnpike 
markers 

29 State, in 
France 

30 Open-mesh 
fabric 

31 Coconut fiber 

32 Great Barrier 
Island 

33 Standard 
condition 

34 Small bird 

38 River to the 

Seme 

40 Heavenly 
cuisine 

41 Elizabethan 
gallant 

43 Authenticates 

46 Garb for 
Gainsborough 

47 Tiercel's 
toenail 

48" Foolish 

Things . . 

49 Roy Rogers 
vehicle 




BEETLE BAILEY 





ANDY CAPP 


As a foreign journalist, l&yvdd came to 
know South Africa the way do South African, 
white or black, can know 'it. Within Emits he 
could cross the psychological and legal barriers 
of apartheid and see the contrasting worlds of 
whites and blacks, coloreds and Asians. “The 
difference can be between an ‘intemationar 
hotel and a squalid rooftop barracks for black 
migrant workers that is periodically raided by 
the police. Or it can be between white bus stops 
conveniently located near die main shopping 
areas and black bus stops hidden away at the 
edge of town." 


mover, uoy*™ „ m w 

able because be spoke in 

mises were batty. J^JiSSS-TS 

what his audiences 

wonder there is so touch 

for desire, and in that way iMnribJt teu 

question the premises upon tffccfi 

Africa is consmsied. 

“A system thai has tojustifv 2* 

of harsh hnerrogration method^. 
semes. “cannot easily reserve ™J***J“. 
teiirs and assassins, for it has need t o men rm- 
nate anyone it suspects in the ' 

ilHmi table conspiracy that tbreataaittCCOW*- 
ued operations. Once a suspect has been tor; 
lured, the interrogation has to _ be continues - 
until some shred of wdencej-mdicaBn* *e 
torture's use has been extracted. 

Violence scetns to offer the whites one es- 
cape from their endless chains of rationa l iza- 
ti on . Ldyvdd notes ironically • — be was writ- 
ing before the latest rioting — that “the mror . 
arena of interracial violence remains uk ntgfr; 
ways where the death rare. . . is at least four 
times what it is in the United State s, wnb 
blacks, who own fewer than 15 percent. 
vehicles, accounting for more than 60 percent- ^ 
of the deaths — a statistic that can only partly - 
be explained by the alleged carriessucss of f 
blade pedestrians, who are die main .victim""/ 
For more and more Macks, violence appea rs to _■ 
be the roly means to bring about agnificain '. 
changr For them the question is bow to make 
a commitment that will be more than a sacri- ' 
ike, particularly when so much of the worid. 
assumes thaia solution ro South Africa's prob- 
lems will have io cook from the whites. Ldy- - 
vddparaphrascs Winnie Mandela: Construe-:, 
live engagement “idling blacks Co ctB ' 
off theff struggle because “the bosses are work- 
ingitouL*" • .7 


C'/WDN, SET YOUR 
COAT ON. SHE'LLTl 
BewoNaeraNG 1 

T WHERE — 1 1 

B 


{ FLO, CAN l 

K 1ASX J 

f V3UA 7* 

[quesrioN?. 


WHY COMOU DBAS ME ROUND 
ID SEE YOURAIOTIHER EVERY r- 
WffiK WHEN NCU »«OW VERY I 

WELL SHE HAreS-THEStGHT J 

■y OF ME AND I HATE THE /-'T 
k SkSHTOFHER? } 


Cl D»**> »wr M « mmptn , Lin 

DbL W Wwi imtei SfMol. ^ 


WHAT? 


To readers bombarded with daily death 
counts from South Africa, pictures cf mutilat- 
ed children and repons of torture, Ldyvdtfs 
contrast may seem anemic. But that is just the 
poinL Apanhdd determines the textnreof ev- 
eryday life. It grinds down the dignity — the 
sense of possibility — of those ildiscmninates 
against, and it deprives the privileged of flan 
and self-esteem. 


So psycbotagicaBy powerful is apartheid, 
dial violence see ms also to provide the only 
contact between whites and blacks. There 
seems to be no seal understanding b e tw e en 
them. A white woman, on some ptiLmihfOpk 
mission io&Cape-Town squatter community, 
spoke to a black main there in baby talk. “We 


jwrry you not have bouse, jiernuL warm ckxbes 
like us. We Very' sorry." The woman meant no 
harm. She saw only a victim. The black man’s 
response was a dismissive. “Oh." 

Afterjhe BulawayomassacfCsiaZmfetbwe,' 
Lelyvdd forced hunse# to risri the refrigerator 
cars filled with the dead. Amocg tie Africans 
looking for dwr rdarives. he spotted an Afri- 
kaner is powder-frfoe shorts and matching 
knee socks with las t wo adolescent sons. Lely* 
vdd imagined btwn shewing die boys what 
blacks do to theagdwes ..wfaaa they rule. 

But. he teamed, the Afrikaner bad brought 
his sons to see die deatfftothaod so they would 
stop making wisecracks about the recent kill- 
ings. "I bring ay sons here to see firsthand 


WIZARD of ID 


A C^mCAlCTMAM 

WW TO ft JIU? 

a pmnt mz 




WAr > 
ABOUT 

p8Sfe?t 


Tm\A,mz \ 
TWm AWCOVOZ 
CTvWffr J 




> 9 ; 





REX MORGAN 


I'M GLAD VOU'RE 
TRANSFERRmG 
CLAUDIA TO THE l 
OTHER HOSPITAL 
BY AA\8ULANCE, 
> m. MORGAN [X 


r I WAS AFRAID THAT ^ 
IF YOU DROVE HER THERE 
IN YOUR CAR, SHE'D 
/TALK YOU INTO TAKING J 
H HER 


f 1 KNOW SHE WOULD TRY 
\ —BUT WHAT SHE DIDN'T 
KNOW IS THAT IF SHE < 
INSISTED ON GOING HQ/ME, 
1 WOULD TAKE HER THERE ( A 




f AND THEN I ^ 
WOULD WALK OUT' 

^ 3 know rr ^ 

W- WOULDN'T BE \ 
RIGHT— BUT \ 
EMOTIONALLY l ) 
^CANT TAKE ANY J 
>MOR E < 


The whites spin webs oT rationalization 
around themselves. Ldyvrid calculated that a 
copy of the printed laws and rcgtdaticQS of 
apartheid weighs more than 10 pounds! Vast 
sums are wasted in maintaining its awkward 
structure. The South African government 
spends more on subsidizing the bus trips of 
workers from Kwa Ndebele to Pretoria than os 
any single development of that wretched 
homeland. 

South African whiles have mastered the 
rhetoric of apartheid so wdl that they often 
dupe themselves. Ldyveld describes the “ca- 
priciousness of a system that can ban a mug 
(on which political slogans have been 
scratched) and release a poem, torture one 
-activist rod seem to ignore another." This 
capriciousness keeps “enemies constantly off- 
balance while enticing potential collabora- 
tors." and, I would add. confuses such outrid- 
ers as the American bankers who seriously 
expected P. W. Botha to announce meaningful 
reform in August. 

Of Hendrik Verwoerd. apartheid's prime 


what they are speaking. . . . I just want them- 
sdves to fed, ( Hdl the is tembk,' "he said. “1 


want diem to stop talking about rt. really.” 
Ldyvdd assumed he was for peace 

and hnmanity.-But perhaps he meant amply 


mere was noanpg to say. i be honor, Ldyve 
teds os. is that it can ro soon ind efinit ely 


Vincent Ooptatzono is die author of "Wait- 
ing: The Whiles of Stm A Africa." He wrote this 
review for The Vnahbigfan Post 


BRIDGE 


By Alan Truscott 




^ , 


T HE diagramed deal would 
have no particular interest 


GARFIELD 


GO OSH 



VOO PRINK TOO 
ArtOCH COFFEE, 

L GARFiaf > 


OH,VEAH?l 
VVELL,TELL 
THAT TO . 
MV NAP J 





A have no particular interest 
at team play or in robber 
bridge but brought out two of 
the significant features of 
match-point scoring - over- 
tricks and the no-trump ad- 
vantage. 

South's auction, as shown, 
began with a Precision Club, 
which, in ifs style, has a 17- 
point minimum. North hfld 
barely enough far a positive 
response, and showed his dis- 
tribution by bidding spades, 
diamonds rod finally clubs. 
He eventually passed the in vi- 
tal onai raise to four no-trump, 
and the partnership had avoid- 
ed the obvions 5-3 spade fit. 


It was not difficult to make 
10 tricks, but it needed careful 
timing to maxhtiiac the over- 
tick possibilities. The beast 

r m was led and taken with 
king. The kmg and quern 
of diamonds were cashed; and 
a diamond was led to the tea. 
Taking the diamond ace would 
have been premature, and - 
South finessed the club jade. 

Then followed a dub to the 
king, the diamond ace and an- 
other club finesse. When the 
club ace was cashed. West had 
to part with his established di- 
amond winner, to protect the 
majorsuits. 

South promptly played the 
ace and another spade, forcing 
West to lead form the jade of 


hearts and so collecting 12 
tricks and a top score. 


WEST 

*KQS 

VQJ7 

OB6542 

♦ U 


Naim* 

* J7542 

OB . 

OAU73 

*K *8 

111 ! W- 

♦ Q 7 4 2 
SOUTH (D) 

* A83 

0 AK 10 


O KQ 8 

♦ A J 10 5 

Neither ahk was vulnerable. Tbs 


Snob Wctt 
1 *. PMs 

1 N.T. Pass 

2 N.T. .Pass 

3 4. Pus 

4 N.T. Pus 


Nona Euz 

1+ Pan 

20 Pug 

3 * Past 

3 N.T. Put 

Pats 


Went led the haul qu e en . 


Wforld Stock Markets 


RMd Irrtl 680 671 

Reuters 348 340 

ROVOl Dutch 1*4 

45/64644 


Nov. 6 

Gowig pnen ui locnl currencies unless otherwise indicated. 


AuMterAun 


lAnswers lomorrowl 

Yesterday's I Jumbtea: JETTY NOOSE TURKEY RECTOR 

I Answer What he got when he bought that stock— 
STUCK 


WEATHER 


EUROPE 


Atasrte 

Amsterdam 

Athens 

Barcttooa 

Deleraoe 

Berlin 

Brussels 

Bucnarest 

Budapest 

Copen noaen 

Caste Del Sol 

DabUn 

Edinburgh 

Florence 

Frankfurt 

Oeneva 

Helsinki 

Istanbul 

Lot Palmas 

Lisbon 

LOnDOfl 

Madrid 

Milan 

Moscow 

Munich 

Nice 

Oslo. 

ports 

Pro -Sue 

Reykjavik 

Rome 

Stockholm 

Srrastcuni 

vomce 

Vienna 

Warsaw 

Zurich 


LOW 
C F 
3B 68 tr 

4 N Sh 

IS 59 a 

12 54 cl 

10 N r 

4 43 cf 

4 39 tr 

& 43 D 


S 41 r 

18 64 cl 

1 34 cl 

-t X r 

1$ 5? Cl 

5 41 Cl 

6 43 r 

3 41 r 

It 54 cl 

If k lr 

19 66 9 

3 37 cl 

16 61 r 

B <6 lr 

0 32 e 

S 41 Sw 

14 S7 Cl 

4 38 0 

7 45 Cl 

5 HI Sw 

•3 27 sw 


BanvfcOk 

Belling 

Hong Kona 

Manila 

Now Delhi 

Seoul - 

Shanghai 

Stnaaer* 

Taipei 

Tokyo 


HIGH LOW 
C fi C F 

» 01 3* 7S cl 

13 55 3 37 o 

29 84 n 72 lr 

30 86 24 7 S a 

28 82 12 54 fr 

t6 61 ll S3 r 

W 66 14 57 if 

31 88 23 73 r 

30 86 30 48 cl 

18 64 13 5S sh 


AFRICA 


Aiaierx 
Cairo 
Cone Town 
Cua bianco 
Harare 
LAW 
Nairobi 
Tunis 


25 77 21 70 


ABN s: 

ACF Hotdlrte NJ 

Aeoon 1042 

AKZO 177/ 

AHOW Z 

AMEV 762 

ATTom Rub NJ 

I Afliraoanv v >- 

BVG Nj 

Buertimonn T i: 

Caland Hide nj 

Elsevier it?' 

Fofcker 802 

otsi BroaxTes 24 

Helneken W: 

Hooaovens 732 

KJ-M. S5^ 

Naaroen nj 

Not. N odder 792 

Neodiord It 

Oce Vender G Zi 

Paktioed 78J 

Philips 522 

Robeco 78.3 

Rada men I35J 

Roiinco 71J 

Rorente 4 

Poyol Dutch IBBJ 

Unilever 34 

Van □mmai' 2 Bi 

VMF-Stork NJ 

VNU 3SJJ 

aiipCbs index: tu. 
Previous: 22210 
Source: Reuters. 


GHH 

Hardener 

Hoeniiet 

Hoechst 

Hoesch 

Horten 

Mussel 

IWKA 

Kell U. Sob 

Karst adt 
KOvrffKrf 
KHD 

Ktoeckner- 

werke 

KruPP Slahl 

Unde 

LuHnansa 

AULN. 

Mannesmonn 

Muefich. 

Rueck 

Nixdorf 

PKI 

Porsche 
i Preussop 
I PWA 
i pyyg 
RDelnmelall 
Scherina 
SEL 

Siemens 

Thvssefi 


Close Prev 
220 227 

NJL 370 

HJL 820 

262 159 

165410 ISO 

210 BH 

NA 370 

NJL 312 

NA 335 

287 276 

NA 315 

325 328 


NJL 94 
NJL 177 
59S 590 

NJL 221S0 
NA 208 
260 75SJ0 


De Beers 1530 

Drlefonteln 4975 

Etatws NJL 

GFSA 3550 

Harmony 2975 

Hlvetd Steel NJL 

Kloof 2125 

Nedbank B30 

Pres Stem 6950 

Rusptat 2275 

SA Brews 415 

St Helena 3&so 

Sasol NJL 

West Hotel no 8300 

Composite Stock Index: 
Previous: NJL 
Source: Reuters. 


RTZ 542 

Soolchl NJL 

SaBTSburv NJL 

Sears HaMlnas NJL 

Shell 680 

STC NJL 

Std Ownerea 472 

Sun Alliance NJL 

Tate & Lyle 505 

Tesco NJL 

Thorn EMI 384 

T.l. Group 391 


13/64 
542 542 
NJL 735 
NA 364 


680 681 
NJL 84 

472 46« 

NJL 526 
505 503 

NA 285 
384 361 

391 397 


T ratal par Hse NJL 373 

THF 146 145 

Ultramar 198 198 

Unilever *12 

19/64412 

19/64 

United Biscuits NJL 205 

Vickers 315 313 

Wool worth 403 598 

F.T.38 index: u*ua 
Pr e vio u s: 187X48 
F.T. Sf.100 Index; 139SJ0 
Previous: 138U0 
Source: Reuters. 


CRA 
CSR 
Dunlop 
EWers Ixl 
ICI Australia 

Movelkjn 

MIM 

Mver 

Hal Aust Bank 
News Corp 
N Broken Hill 
Poseidon 
Old Coal Trust 
Sartos 

Thomas Notion 
Western Mining 
Westoae Bankina 
woodslde 


Close Prey. 

5J8 152 

3J8 3A3 

252 159 

3 3.T0 

12 127 
220 120 

142 148 

3 jSS 3jS5 
LB2 4.90 
8J0 676 

128 2J0 

3L65 362 
152 752 
SJ0 5M 

143 Z45 

130 353 

475 450 

1.40 U9 


Olympus 

Pioneer 

RICOh 

Sharp 

Shlmazu 


Close Pre*. I 

nxn vno I 

1620 MW 
109fl 1090 

846 BSD 

. & Mt 


Canadian stocks r*a AP 


SWnelsu Chemical .819 792 


All Ordinaries txh 
Prevleet : 1B14J0 


Source.- AFP. 


Sony 3820 37» 

Sumitomo Bank 172S 1730 

SorflitomaChem 2S1 253 

Sumitomo Marine 719 718 

Sumitomo Metal 144 144 

Tatoel corp 340 344 

Talsho Marine 57o 578 

TakedaChem 890 883 

TDK 4060 4000 

Teh" SOS 51t 

J ok la Marine 932 *37- 

Tokyo Elec Power 2470 3470 

Toppan Printing 8*9 899 

Torov I rid 525 523 

Taihtba 358 io 

Toyota 1T10 1120 

Yamaichl Sec 732 738 


2200 2400 

NJL 572 


724 715 

NA 1223 


2 M 250 
NJL 153 


AA Corp *811/14 58V3 

Aiiied-Lvons 275 278 

AflQkSAm Gold VS*. S43L4 

Ass Brtl Foods NJL 270 


; Rwe 21050 20970 

Rheinmelall NJL 499 

Scherirw 637 633 

SEL NJL 348 

Slsmens 669 663 

Ttmasi TO to, 

VeBa 27tLS0 26550 

Volkswagen 40650 38950 

Wei IO NJL 650 

Commerzbank index: Njl 
P reviews: 172? JO 
Source: Reuters. 


30 68 14 57 cl 

26 79 20 58 cl 

30 86 16 61 tr 

31 88 26 7? a 

27 81 14 57 G f 

21 n it it « 


Bi ns H ob 


1 Ass Dairies U6 136 

Bare la 427 414 

QOS5 NJL 653 

BJLT. 311 293 

Beecham 330 326 

B'CC 245 245 

Si- - NJL 29 

Blue Circle 586 sea 

HOC Group 3D5 301 

Boots 230 771 

Sown her Indus 315 315 

BP 54* 541 

BrllXome St. NJL 321 

Bril. Telecom 193 193 

Brit Aerospace njl 441 

Britall NJL 221 


Banco Comm 

Oaaholels 

CrtC Ital 

Erwanlo 

Farmitolia 

Flat 

Generali 

IFI 

I In (cement; 

I Itoians 
1 Italmobllloji 


302 301 

230 223 


Mediobanca 126500 


315 315 
563 561 


NA 321 

193 193 


LATIN AMERICA 


BllCIWSAIrH 38 *2 19 66 tr 

Caracas 28 82 17 £3 Cl 

Ums 22 72 13 55 0 

Mexico City 21 70 s 41 pc 

Rio de Janeiro 26 re 18 64 cl 


NORTH AMERICA 


I Arbed 
Bekaen 
Cocker 1 11 
Obepa 
EBES 

GB-Inno-BM 
GBL 
Gevaert 
1 Hoboken 
inlerconv 
Krealettiank 
Petroflnu 


2890 2880 
NJL 7610 
210 213 
Njl 6475 
3750 3700 
5700 5180 
2670 ZTOO 
4450 4795 
5680 5680 
NJL 2780 
NA. 10W 
6810 6940 


Bk East Asia 
Glwune Kona 
China Ught 
Green island 
Nans Seng Bank 
Henderson 
Chino Geo 


HK Electric 
HK R&JtvA 
HK Hotels 
HK Lund 
HK Sftang Bank 
HK Telephone 
HK Yownotei 
HKWnarf 
Hutch Whampoa 
Hvson 
mvi ettv 
JarcHna 
Jaraine Sec 
Kowloon Motor 
Miramar Hotel 
New wana 
SHK Props 
Stelux 

Swlra Pacific a 
TolChetffH 
Wctfi K worts 
WtaaOnCo 
Wlnsor 
World Inri 


Soc-Gentrule Z3I5 2395 


Zorich 6 43 

MIDDLE EAST 


Ankara 
Beirut 
Pommcws 
Jerusalem 
Tel Aviv 

OCEANIA 


18 

6i 

fr 

Anchorage 

-5 

23 

-ID 

14 

PC 

6 

43 

ei 

Atlanta 

17 

63 

4 

39 

fr 

6 

£3 

Cl 

Boston 

11 

S3 

7 

4S 

r 

8 

44 

d 

Chicago 

14 

57 

2 

36 

PC 

1 

46 

d 

Denver 

7 

45 

0 

32 

r 

• 

45 

0 

Detroit 

12 

54 

S 

32 

PC 

5 

41 

sn 

Honolulu 

29 

84 

30 

68 

tr 




Houston 

26 

79 

9 

43 

PC 




LOS Angeles 

27 

ei 

14 

57 

ft- 

4 

39 

sh 

Miami 

24 

75 

<1 

52 

lr 

— 

— 

na 

Minneapolis 

8 

44 

3 

37 

PC 

— 

— 

na 

Montreal 

8 

46 

4 

39 

a 

13 

55 

d 

Nassau 

26 

79 

21 

70 

lr 

14 

57 

lr 

New York 

13 

55 

9 

48 

PC 




San Francisco 

23 

73 

11 

52 

lr 




Seattle 

» 

5* 

6 

43 

r 

11 

52 

a 

Toronto 

0 

« 

7 

45 

Cl 

IB 

64 

d 

Washington 

17 

63 

0 

50 

PC 


8420 $470 

an sere 


Trocllo, 1 Elec NJL 4900 


UCB NJL $550 

Unerg NJL 7080 

V Mnnloone Sajo 9650 

Current Stuck index: Njl 
P revious: 283 MS 


Source: Reuters. 


Fruldoi 


Auckland 16 51 11 52 a Tomato on 7 45 ci 

Sydney 28 82 18 64 d Washington I? 63 0 » pc 

Cl-cloudv: teteggv: tr-lolr; hJiali; aavercagt; K-pgrtlr cloudy, r-rmn: 
5h showers; wsnow: s«-SMrmv. 


THURSDAY'S FORECAST — CHANNEL: Rough. FRANKFURT: Uoudy. 
Temp. 14—5 161 — 411. LONDON: CteWdY. Tom*. 12 — 4 154— 39). MADRID! 
Cioudv. Temp. 20—12 168—941. NEW YORK: Fair. Temp. 16 — 7 <61 — 451. 
PARIS: Cioudv. Tump. 13 — 3 155 — 371. ROME: Fair. Terra 20—16 (68 —611 
TEL AVIV: NA ZURICH! Showers. Temo. 16 — 6 (61 — 431. BANGKOK: Foggy 
Temp. 32 — 24 (W — 751. HONG KONG: Fair Temp. 27 - 74 (81 - 751. MANILA: 
Fair.. Temp. 32 — 34 (90 — 7Jj. SEOUL: Foggy. Temp 16 — 11 161 — 571. 
SINGAPORE: Tnunoorstorms. Temp. 31—24 {SB — 751. TOKYO: Rain. Temp. 
14— 14(61 — 57). 


AEG 

Allianz vers. 
Altana 
BASF 
Bayer 

Bcver. Hypo 
Boyer.Ver- 
.Bank 
BBC 

BHF-Bcnfc 

BMW 

Commerzbank 
Canllgumml 
Ooimler-oenz 
Deaussa 
Deutsche Bank 
Dresmsr Bank 
OK Babcock 


254 2 «.ro 
IS 20 1810 

na snsa 

Z69 7o6JQ 
263 259JD 
NA. 426 


23 2270 
2040 2058 
1 7 AO 1730 
US 835 
*■. sn 4525 
XX 2375 
11 JO 11 JO 
a 40 835 

1230 1220 
35 34JD 
L90 6 JS 
7 JO 7 JO 

9.10 US 

U0 3J0 
7.45 7 JO 

27 j0 27 JO 
8 J 2 ta 
038 aw 
1120 13.10 
1A» ItM 
1040 10JO 
46Jti 462 
U0 &30 
1130 1230 
2J5 2J5 
2880 2880 

2.10 2 OS 

(IBS 087 
1.77 1-74 

5 4375 
2J2S 2J0 


BTR 
Burmati 
cable WireWta 
Cadbury 5ch*». 
Charter Corn 
Commercial U 
Cora. Gold 
Courtoulda 
1 Dataety 
De Beers 
Distillers 
. Drletonteln 

FI sous 

Freest Ged 
GEC 

Gen Accldeni 

GKN 

Glaxo 


NJL 221 
375 371 


306 307 
600 620 


Hong 5eog Index : 1700J6 
Previous : 169171 


44Q 427 

NA 292 
NA 425 
555 530 

275 JO Z7i» 
167 16350 
1157 1130 

NA 467 
714 71*58 
348 3« 

NA 227 


AECI NA 775 

Anglo Amer. 3425 347S 

Anglo Am Gold NA 17600 

Barlows I ISO 1090 

Blyvpor 1560 1575 

Bultets 7500 7600 


Grand Met 3ee 

GRE 733 

Guinness NA 

GUS 887 

Hanson NA 

Hawker 423 

ICI 669 

imperial 

Group 217 

Jaguar na 

Land Secure 
Hes 313 

Leoal General 723 

Llovds Bank 473 

Lonrho NA 

Lueas 463 

Marks 8 Sp 185 

Metal Bex 545 

Midland Bank 444 

Nal Wear Bank »4 

P«dO 428 

Pjlklngian NA 

Massey UO 

Prudential 734 

fiocal Elect NA 

Randtonteln SNA 

Ranh 484 


NA 710 
359 255 

NA 462 
161 160 
NA 450 
•NJL *377 
455 450 

SNA S13 
41B 406 

SNA. SIS* 
166 162 

713 701 

2S4 258 

G5 3/64H4 

61/64 
368 368 

733 725 

NA 313 
887 960 

NA 219 
423 4B 
669 677 


Montedison 24Z 

NBA NA 

Olivetti 743! 

Pirelli J3SC 

RAS NA 

RlnOSCmle 9K 

SIP NA 

SME NA 

5nJo J21‘ 

Sfonda NA 

Stet 367C 

I M.LB, Current tsdex: 1 
! Previous: 17W 
Source: Reuters. 


217 216 

NA 312 


Caio Storage 
DBS 

Fraser Weave 
Haw Par 
.1 netted pv 
Mol Banking 
0CBC 
OUB 
OUE 

Shangri-la 
suite Darby 
SHorr Land 
ffporoPrea 
5 steamship 
St Trading 
United Oversea 
UOB 


124 124 

195 5.9a 
680 6JD 
120 119 
2 M Z08 
U! US 
873 863 
1M 179 
127 N.Q. 

2 1.95 
iai iji 
155 1S3 . 
625 6.70 I 
084 084 

198 190 I 

160 180 
178 US 


AkeJ 

Asctii Chem 

Asohl Gloss 

Bank of Tokyo 

BrkSgeslone 

Canon 

Casio 

CJtoh 

Dal NlceonPrtnl 
OH wo House 
Datum Securities 
Forme 
Fu I Bar* 

Full Photo 
FulHsu 
Hitachi 
HttacJit Cable 
Honda 

Japan Air Lines 
Kollma 
KOnsol Power 
Kawasaki Stee l 
KJrta Brewery 
Komatsu 
Kubota 
Kyocera 
Matsu Elec Inds 
Matsu Elec Works 
Mitsubishi Bonk 
Mitsubishi Chem 
Mitsubishi Elec 
Mitsubishi Heavy 
Mitsubishi Cam 
Mitsui and Co 

MltSUkBShl 

Mitsumi 

NEC 

NGK insulators 
Nlkkosec 
Nippon Kcgoku 
Nippon Oil 
Nippon Steel 
Nlpaan Yusett 
Nissan 
Nomura See 


NlkWnsJ. index : 1389M0 
Prevtan: I3R869 
New Index : WX25 
Pravlom : 1(19.38 


Source: AFP. 


Zaridb 


Adlo 

Ahisuisse 
AuloPbon 
Bank Leu 
Brown Bovert 
CIbo Gelgy 
CredW Suisse 
Electrowatt 
HoKtorOonk 
Inter dbcourtt 
Jacob 5wehord 

JObnOll 

LondtsGvr 

Moevenoidc 

Nestle 

Oerllkon- 

Buertirte 

RoehoBobr 1 

Sendaz 

Schindler 

Sutler 

Surveillance 

Swtssolr 

SBC 

Swiss Reinsur- 
ance 

Swiss Valke- 

tank 

Union Bank 
Winterthur 
Zurich Ins. 

SBC Index: IBM 
Previous: 55788 
Source: Reuters. 


HWi Low close Out. 
*TO6 17*6-17*. 

- mi TIM •' 1(16 
SW* 189k 19 
ate 8 % vet* v* 
(18 1796 179k 

814 139b- M 

818ta MVS Mta 
(19V* 1916 19W+ Vi 
SIM, 94b 10 
S31V* 31V. 31M + -98 
490 415 ' -485 — 5 

*14 139k 14 

185 178 IB + 6 

SM M 18 +9b 

380 375 375 . . ■ ■ 

M69h U«k 16W— 9b 

S 6 ■ . 

s» m n 

2M 206 206 —6 

S25W 2446 2Sta + 9b 
S2* 1» 12*fc— Vk 
Sfflt 309k 3096 — U, 
T17JS 17V6 179k— Vk 
S759* 1516 L59«-t-9b 
*1594 15V. 15(6+ 9b 
2* 12*6 1Z9k + Vs 

J25W 25 25»+ to 

*W99 Wx 24964- to 

.. S34Ki 34 34 - 96 

S43U 4314 43V6— to 
sia 10 jo 
sank » 39to4-i% 

sm* 996 ns+ y% 
SWto 1896 1896— to 
*1518 18 .1* 

SR* » (96— to 

•Wm 1996 199k+ (6 
5149k 141b 14)0+9% 
^ 9 


36*16 Matson A t 

200 Motion B 

2HJ Murphy 

500Nabtw»L 

WWNorctado 
20508 Moreen 
47824 Nvg AHA f 
32mN6wta>W _ 

’^NuWrt^A 37 36 34 

aoOQgtwood 
MOOOmnUxteo 

«» 2ZW 2296 
I13H. l3Vs 1396 


*19«6 1996 my— to 
-Wta 199k+ 9b 
Ota 231*4- Vl 
*2796 279b 2796— Ik 
MM. 139* 139%+ Vk 
*149* 14«, 1496— Y% 
(Mb 49% 6V%— to 

1 MN«WsTpA ^ jT 2 

BigipacwAtta 3£ 

2S360 Pancon P 
SSPpnbtno 

Mo” tat’* ’ '* 

4 ^^^' ««k iSS tSrcS 

43W2 Rawest 1 so joJ In iSlS 

2 S 6 Ri»«* 5P ^k fito TOklS 

OTto Kto Wte=96 

3®. <73 480 +10 

JJOM we, 109%+ lb 
Mto 239* " 

WVfc JVk 716 

212* !!?* 119 *+ v% 

*WH 13JV 13V% 

is** * 

5°, w 2D + Vi 


» Rosters A 
1500 Roman 


*?Jk 99* 91%+ to 

3*5 2M%— vk 

*1796 |79fc TTto + to 
S Rl4 209S 309% 

*71% 21to 211b 

5ta* 46?" «■ 

408 400 

CTk TVS 79S— M 

W* 1W9+W 






toto ilk 6«b+ 9% 
S696 6 to 6 to + 9% 

SlOto VJ ICR* — VS 
24? 265 2*5 —3 

*149% M 1496 
jmW 20to 71(6 + % 
» 244 246 — 4 

470 440 470 +5 

*139b Tito 1390— to 
*13- 1296 13 + to 
..15ta 596 59b 

KM Ah- 64*— )% 

■ «'+ 1 * 
J2S 24VS 25 +4% 

SS ***** to 
. * 2 ** ' % 

*7 496 Ob— 96 

• ^ ?! MVs + iy 

MB 696 49b + to 

- sine. i 99 b m%- 1 * 

*14 131% ■ 1396+ to 

- *1296- 12 126+ to 

sr& ss +i * 

€€€- 

• >|to 81% (to 

SSto 06 696— to 

*14-16 14. 

*1 nf 1796 1796— to 
SDVi '23 to 239k 
tiVr 6VS «to 
.(711% 9196 .21 to— to 
*1195 HU 111% +96, 
(22 2I9fc " 22 +to' 
*301% 30to 289b— to 

sa.85- a 
w ,rs +% 

.ff"-* 

•2 WlSh 179%+to 

- 337- .3T 37 

,*M9L 1496. -1496 

VSt 

*»«• W 19to + to 

SUto.ISU IJVi—96 
« 1 415 420 +S 

*13tS 1396 1J96— to 

'UNrdPiP 


tLQ.i not auated: na: not 
ovoliatrfe; xd: cx-rflvldend. 


The Global 
N 


313 314 

729 719 

472 457 

NA 163 

443 435 

185 183 

545 546 

444 439 


Straits times lad Index : 76988 
pre vi ous ; 74780 


Source: ARP. 


. naWiif 1 -.it- ??.■ 


428 425 

NA 291 

140 128 

754 744 

NA 1J0 

SNA S56to 

484 46? I 


ACI 

ANZ 

BMP 

Borai 

Bovgairtvine 

GosUematav 

Coles 

Gemalce 


2 M zJh 
. 5J5> 5LQ2 
837 880 
■ X14 335 
IJS 1JS 
0.10 810 
4.10 «20 . 

174 U 8 1 


c/rri F7 hp*f 

. frT .‘l J A 


“SfafAerot 
100 St Braden 
40448 SleteBA 
Sytatra 
Steen R 
Toro 

TgYr^COTA 

nHT 1 * 81 
U922>TaxCaa 
WUOThomri^ 
^3406 Tor Dm Bit 
^SJOrgtorBf 

Traders A \ 

m 




Sf?f* u M 

aj'SSfcft 

g §9* 

*g*k 29 2916— 9% 

2 A 1 35 ^ 

jwj w into— to 


BBsssir 

£» 23to + to 
25to 26 

*9, M 4 —4 

•*2* 796 77k 

*J2Vr I2U 1296— to 
129% lajy-X 

3aS M,+ ih 

JS^. ill:: 

— '-raor JS* & Mb+* 


lS343TrltanA 

IsSiSSB ^ 1 




2«0Warda^ 

3t8w££“ 


-iSXSke, VuS&BJK* 

- ‘mSS *aSSS 


40] Don Sm Ur A Si™ ?196 3116+ fc 


177tfCOicteJos 


WrBl 




a* 

Sito « iSfo J 

ST* 

SB, 1796 It 4 . to 
SmS- S_. *». :~Vk 




teaww « , tade* : Previous 

— — - lout 


^ yajAHO XiO. 




'ORlBOAi 









OKS 


INTERNATIONAL HERALD TRIBUNE, THURSDAY. NOVEMBER 7, I9B5 


■’Sr, 

^gp§|> 

S; < 5 Sjg& 
.v-~< ‘ x « 5 j» 

-’•• ■-•.} . r^fsr.uT 

?£-.S 8 g 

:';• :•• - -n-: 


jj 



:f -- *«K»» 

V;ss5jS 

*ssS 


- Ihc| ^ 

- .V . and bw'i 

.-■■"-vaa 

.. ...; Jl ^m.TE5f 

-'iv c. “ 0 ^- 5 Olga Mostepanova, during a perfect- 11 



SCOREBOARD 

— 

” - Afrihnfrh^ ^ a ^ ona J Football League Leaders 

AMERICAN CONFERENCE D.VWtfte. OoU. 



I h4»i 1 Un i N f l *HM l m nnx>f| i 

Olga Mostepanova, during a perfect-10 balance-beam routine that put her in first place. 


Football 


• Jbounhjuj^- 

‘ n - here MatTEe son Diego 

■• 

lenible.'-jua. cmcmooN 
■ i uns ataui ^ 

" ■■* *• SpealiM fa t New England 

; 

• Ine honor. Ii,”Fimbor«n 

• r J •' $'■> on rnddim," ’ 

■ Indianapolis 

Kansas City 

Buffalo 

■> :hi isaivff% nownon 

■• -■' llnca.” Rtvmi 1 

' 1 Poll. jets 

Pittsburgh 
Raiders 
New Enatond 


AMERICAN CONFERENCE 
TEAM OFFENSE 


Yana 

Run 

Pois 

3401 

•22 , 

2579 

3277 

945 

23)2 

3181 

1170 

2011 

j no 

1102 

2008 

3061 

1442 

1*19 

SOM 

1174 

1840 

2920 

10*7 

1823 

2878 

981 

1897 

2866 

1168 

1698 

2813 

129* 

15*9 

277* 

1282 

1496 

2756 

828 

1928 

2511 

820 

1691 

244* 

989 

M9* 


D. White. Dali 
DeBarU. T.B. 


177 3001 10 
170 20*4 H 


HUL DalL 
Crate. S.F. ' 
Jordan, Mina, 
jm TJB. 

B Johnson. Aft 


NO 'TOt AVG LG TD 

a » lu ** s 

53 66* It* 73 5 

• 45 HO 1L2 23 o 

4] M lli 27 1 

4 3 534 125 62 4 

Rashers 

ATT YDS AVB LG TD 
300 Ms 44 33 3 

162 844 52 » » 

166 013 49 60 4 

310 tfO X» 34 5 


13 Andersen. NO. 
17 Seal ten. Dali. 

LuCAhursL Ait 
ro Murray. Det. 


TEAM DEFENSE' 

Yards Rub Pees 


Clevel an d-- -< -*— « ->*2551 
Denver m KJ41 ini . 

Indlanasalli 3no nos i7f» 

Seattle 2981 1125 1856 

Kansas Crtv 3000 WOO 1920 

Buffalo "~ 3134 1415 1700 

Miami IM UK ms 

Housloa 3367 1417 1046 

Cincinnati 336« 1008 2356 

San Dtroo 3473 1145 2328 

INDIVIDUAL 

Qrtartortwcki 

ATT COM YDS TD 1NT 
Esloson. On. 235 138 1764 14 8 

Fouls. S-D- 317 120 T745 14 9 

O’Brien. jew 247 W7 1793 11 5 

Herrmann. SJ3. 12& 05 1048 6 7 

Danletson. Dev. n* 85 1034 6 . 5 

Kenney, KX. 254 137 1978 12 I 

Krleg. Sea. 290 156 2030 19 12 

Malone. PM. 220 114 1411 13 7 


r. jnJ so aftcB 

j • ilj jUtpiCfflt 


- • ' il!C 

SOUTH (111 
4 463 
: A K M 

KOI 
A A J U5 

Kr-r y* "=* 

» W«« H* 

few '* 

: . 

Piss I* 

kt il T 

pus 

- b* dean tp® 


Rtoss. An. 

200 

88* 

44 

31 

Payton. CM. 

162 

844 

52 

27 

Dancft DoO. 

M6 

B12 

49 

60 

Wlhtor. T.B. 

210 

era 

X7 

24 

TVtar. IF. 120 593 4.9 26 

Sarto* {ToadHtowM} 

TD Run Rec Bel 

Grata. S.F. 

11 

6 

S 

0 

Payton, CM. 

9 

7 


• 

CMckeryon. Roms 

7 


0 

0 

Gltos. T.B. 

7 

0 

7 

0 

McKinnon, CM. 

7 


1 

• ' 

Scoring (Klcfcknn) 



PM 

FG 

u 


Irv tot Roms 
Green, Rants 
Hook In. PttU. 
Tnurixton, DoO. 
Walts. Don. 


5 MarstwN. GUatts 
e Mann, WMi. 

E Janes. Oau. 

*ts Manley, Wash. 

66 Board. SJ=. 

54 

42 

^ Londrta. Giants 
42 Buford, Cht. 
Colsmoiv Mtrm. 


Buhcc, CM. 


40 71 Block. Det. 


Hocke^ 


Pool era 

NO YDS LONG AVG 
3» 1757 40 45.1 

O IW ll 44* 

36 1574 *2 43J 

43 1823 SJ 43.4 

41 1761 57 43J> 


Esloson. On. 

5 Fouls. S-D- 

OBrlea Jew 
cl - Hermta n n. 5J3. 

tT Danletson. Dev. 

Kenoey. KX. 

'V%'KriMklea. 

Malone. PIN. 
If' 4 Marina, Mia. 

|Dl Moan. Hail. 


National Hockey League Standings 

WALES CONFERENCE Cotaorv 

- PotrhX UvMee NY. ti l o n di n 

W L T Pfs GF GA Rtsebrauon 141, 


Phttodahthia 
wastiinaton 
NY islonden 
ny Ramen 
New Jersey 
Pltwbundu 


Chrfstnsn, Rdrs 
Stallworth. Pitr. 
Clayton. Mta. 
BelL Buff. 
Nathan. Mta. 


McNelL Jets 
Allen. Raiders 
Wdrrw, Sea 
CJ antes, NJj. 
Mock. Ciev. 


334 195 2269 13 12 
225 125 1641 9 10 
Receivers 

NO YDS AVG LG TD 
51 603 11.8 « 1 

41 SH 1U 27 3 

46 651 143 45 1 

46 433 9A 45 1 

43 4SD. 94 73 0 

Rashers - 

ATT YDS AVG LG TO 
1 82 945 £2 69 3. 

193 809 42 20 7 

U3 675 4.1 23 5 

138 60S *J 65 3 

130 m 46 61 4 


Quebec 
Boston 
Buffalo. 
Hartford 
Mart retd 


Adam DMstoe 
9 3 1 


Cataanr 3 110-4 

NY. ti i o n ds n 2 0 3 a— « 

- GA Rlsebrouan Ml, Wilton ui. PeaCasU 131. 
S3 33 Laob |2>; Hamwav (1 )• LaStannlnefS). Bossv 
52 48 2 (8).5iuisanBoal;Cataary|anHnjdcvl13- 

43 43 10-11.2—35.- NY. Istandera (on Lemelinl 11 -V- 
« 35 90—29, 

41 42 Edmonton 2 0 4—6 

43 51 Vancouver 2 0 3—4 

Gretzky 2 110). TJkkontfl Cl. McClelland 
57 44 I2J. Messier (JJ.Kurrl (81; uvwflj.Smyl (61, 

59 37 Lomov IS, Holword (1). Snots on VOOl: Ed- 

47 35 man ton (on Brttdeuri FS9— 23; Vancouver 

48 59 (on Mood) 5-13-0-26. 


scorfna (Touchdowns] 


m u>nf ] 

sP 1 * ? Vr 

S-t »!■ 
S !" Sr 
n?t £5 

juj ^ p 


Linas. PHt. 
Turner. Sea. 

A Ben, Raiders 
Brooks, Cln. 
Palae. Jets 


TD Rush Rec Ret Pfs Wbmtoeo 


. CAMPBELL CONFERENCE 
Nome Dlvtslan 

SL Louie . 4 4 2 10 35 41 

Chicago 4 7 1 9 50- 57 

Minnesota 3 6 2 8 47 48 

Detroit 1 8 3 5 35 68 

Toronto 1 10 0 2 33 52 

Smvthc DMslaa 

Edmonton 40 3 0 30 61 43 

Vancouver 6 5 2 14 .54 47 

Calgary 6 j 1. 13 56 46 


Basketball 
NBA Standings 

EASTERN CONFERENCE 
Aitanhc Division 


3P<* 

ns* 9„v 
iwi. S'* 


Scorino (KKUed) 

PAT FG LB PW 
Kama. Den. 21-34 18-27 48 75 

Revelx. Mia. 25-25 15-17 43 70 

Breech, On. 28-30 13-15 53 67 

LOwerv. ICC 18-18 15-18 58 63 

Leahy. Jets 23-74 13-18 53 63 

Interceptions 

No Yds LG TD 
Jackson. Cln. 5 100 57 1 

Griffin. Cln. 5 7 5 29 1 

Daniel. I rut 5 S3 29 0 

Cherry, K.C 5 36 24 o 

Clavdom. N.E. 4 65 38 1 

Sacks 

No 

Jones, Den. M 

Loaa Rdrs L5 

Gasfkneau, Jets . Bit 

Meckienbura Den. . 7JI 


0 48 TUESDAY* RESULTS 

o 48 Montreal 12 3—8 

0 48 Hartford 1 2 0—3 

CtieHoS 2 131,. SmBn (2), WaHer 111. 
L9 Pfs Momtw2 l3).Corbanneouf3t,McPhae <3>; 
48 75 Crawford ilLSillanen (31, Fronds (71. Shew 

43 70 on oocd: Montreal (on Uat) lMtM5— 35; 

53 47 Hartford Ian Rov) 7-11-7—25. 

a 63 BOShM 1 3 1—5 

53 63 Qeebec 2 1 4—7 

Aswan C2),A£Mstnr 2 (5). Babvch [JI.ColB 
a TD U). Goulet (91. Anderson (51: Pederson 171, 
57 i Crowder 2 181. Kasaer (31. Curran (1L Shew 
29 1 on dotri: Boston (on GosseUn] 8-5-5—18; Oue- 

79 0 -bee Ian P eters) 72-14-18— 44. 

24 o Cntcago 8 3 2-4 

38 1 WasMnefOn 14 3—1 

Carpenter (S), Hatcher O), Haworth 2 (8), 
No Adams (31. Guilotlion l». Christian 15J. 
9_0 Gould (3i; Savant (7j,Larmef 2 isj.b. mut- 
85 mv(1).Stwts4w deal sChlcese Ion RtaBlaJS- 
80 14-11—30. WaMtlnsten (on Baaavinon) M>-12- 

7Jt 11-M- 



■ '.Vf 1 

Tlppatl, N.E. 

Panfers 



7J) 

. J 1 

. CP’ f 1 

- 

NO YARDS LONG 

AVG 


- . ■ -r a if 

;.^- J srf i 

Si art. ina 

41 

1911 

U 

464 

- - - - 

Robv. Mta. 

34 

1538 

63 

449 



Norman, Don. 

50 

2906 

61 

441 

“ “ 

-« - i 11 , y \ 

Camarilla. N.E. 

56 

2460 

75 

43.9 



L-Johnson, hou. 

47 

2064 

62 

43.9 



w 

L 

Pa. 

GB 

Boston 

4 

1 

-BOO 

— 

New Janav 

* 

3 

-S7> 

1 

PMladeienia 

2 

1 

400 

2 

wasntaomi 

2 

3 

430 

3 

Mew York 

0 

Central Mvtsiaa 

6 

l 

w 

All 

Milwaukee 

5 

2 

JI4 

— 

Dctroli 

4 

2 

- 467 

W 

CMcaga 

3 

3 

400 

1 

a Kama 

2 

4 

333 

2V» 

Cleveicinfl 

2 

4 

■333 

2V* 

Indiana 

1 

3 

250 

2V, 

WESTERN CONFERENCE 
Midwest Dhrtttoa 


Denver 

5 

a 

UKU 

— 

Houston 

4 

2 

467 

1% 

Dallas 

7 

2 

joo 

2V> 

utan 

3 

3 

408 

Tn 

San Antonio 

2 

4 

-333 

3’a 

Sacramento 

1 

Pacific Ptoatoa 

3 

2SO 

3v» 

L*. a 1 ogera 

5 

0 

1M0 

— 

LA. LaLera 

4 

1 

-800 

i 

Parr land 

4 

2 

467 

1V» 

Seattle 

.2 

3 

.400 

3 

GoUen Stale 

1 

5 

.167 

4*5 

Pnoenu 

0 

4 

xeo 

4ft 


_ TUESDAY* RESULTS 

SnPPRr wastdeswa 3i as ae JO— IM 

New Jersey 23 as ji IS— ill 

” B.wlllloms 10-16S425.Gm*nsk. 1M42J22. 

CUP WINNERS' CUP Rohlneon 7-14 66 70. Rutond 8-16 5-9 21. Re- 

tSecootf Round, Seceed Leo) . ' bounds; Wusnlngton 4 MRolanalS); New Jer- 

DvnamoOresden 7.HJK HettlnUT (Dvno- *ev 4] (B.WHUams. Gminskl 81. 




S» il ? 

EJJ jfk f 

I* 

3 : if s 

C! l i 5. , °* 

fbi-HS 

s^i.% Ts 
f'L“ ^ P am 

*Jjy » 1 ! w 

J t' ® ri 
Lf* ,1 Bo 

£ 

16 6 ~ Do 

Sf" F ' 

■ pd :• Gk 

. y Wo 


Danas 

Chicago 

Gwnts 

1 San Francisco 
'si. Louis 

' Washington- ' 
Tomoa Bov 
Allan ra 
Minnesota 
Philadelphia 

Green Bov 
Rams 

New Orleans 
Do troll 


NATIONAL CONFERENCE 
TEAM OFFENSE 

Yards Rush Pass 

3370 1085 . 2285 

3348 1471 1877 

3290 1213 2077 

nd SCO TUI 1308 1923 

; WM 1095 1M1 

ton-' 2952 W16 1036 

80 V 2851 878 .1+7$ 

3*08 1325 1583 

to 2801 - 821 1980 

phta 27M Bit 1923 

OV 2 m 116?. 1623 

2680 1130 I5d0 

eons 2616 909- 1627 

2404 868 1536 


mo Dresden advances 00 7-3 oeerego t e )- 
Dynamo Klee 3. UatvenUano Romania 0 
(Dynamo Kiev advowees. 5-2). 


AIK 2. OuUo Prague 2 (Dukta advances. 3- . Naastwi 


washlnBlen33 (G.wuUams 10); New Jersey 
35 (Richardson 8). 

Porttnpfl 11 XI 26 31—111 


30 27 M 36—137 


UEFA CUP 

GtaQMHf RotMM, second Leal 


Okifuwan 14 25 13.1741. Lucas 7-ie 7-8 22; 
vandatueoheio-us-ll 38. vntantliw 6-94-6 16 
Rebeufuts; Portland 40 (Vandeweotie. Bovrte 
7}: Houston 54 IflWuMn IB). Assists: Pan- 


Vordar Statrte l. Dundee Uofttd 3 (Dundee land 34 (Valentine 71; Houston 3t (Lucas 14). 
advances on H nraeftl. Ooksen slate 34 it 22 33— 99 

Chernomarrta Odessa & Real Madrid 0 Utah 31 ja 24 41— its 


(Real Madrid advowees. 2-1} 


Don Key 12-23 3-a 27, Boitoy P-18 1-1 13, Cor- 


Bonemtora Prague 2. Cotooae 4 (Cntoone mn 11-24 65 26, Roy dB- 16 5-5 24 Rstenadi;- 


- r-e uL ij*u 

rx? sfi 

-r 1 &i\-. 

X \v Y' '’"V.-S1 

- w. ,- ?*r v r III 

' '■ itf" r W 


« - V; vr;" 

V, ; V' 


TEAM DEFENSE 

Yards Rush Peas 
Giants 2361 839 1522 

Washington 2611 9*3 Mil 

Rams 2526 AB lew 

Chicago 2*87 726 1961 

Philadelphia 2744 1209 1535 

Dallas 2009 331-1988 

Minnesota SW . H7D 1754 . 

SL Louis 2968 1300 1660 

San Franc Isca 3033 1076 1957 

Green Bay 30*7 1272 1825 

Detroit 3235 1535 1700 

New Orleans 3273 • 1191 2082 

TampoBoy. 3274 1267 2007 

Atlanta 3584 1»6 2361 

INDIVIDUAL 
Qua rW rt >n< M 
ATT COM YDS T D »WT 


ativancm. 6-D Golden Smts 

Lftfita Warsaw IrVUfeofawSiekesfehtrvar t ifij.Axstm; 
(Lea Jo otfvonces. 2-1), n rcreen. 5 

HeMuk SdfllS, Turin 1 IHaldukadtiances.4- son Antonio 
2). . Milwaukee 

Daesr Dnepropetrovsk l.PSveindhevanO. Rktrcc l(M 
COaear advancet. Ml. -u a.m « < 


Moniana, SF. 

McMahon, ChL 
SlmmL Glams 
JUworsfcL PhfL 
Hippie. Det. 
Brock, Homs 
Lomax, SIX. 
Kramer, Minn. 


257 160 1836 13 

Z3> 136 T796 13 

394 U4 2304 13 
226 KM 1710 9 

199 KB 1540 9 

243 3U . 1770 9 
28* W72 12 

304 175 W» 12 


CHAMPIONS' CUP kee S6 1 

(Stated Roved, Secevd Ltt) r Moore 

ftleswa B u charest A Honwed T f Sfeaua ad- ' Atlanta 
vont on 4-2 caaneoate). Denver 

Juventu62.V4rona0uaventusoavaiicM.2- Ertaih 
0). Kancofc 

Fenemacne 2. IFK Gafettaro 1 IGatoBere Aiimila 
advances. 5-2). jutlsn; 

Omenta 1. AodeHechi 3 (AnderiBcnt ad- (e nut is 
vancK 4-1). Cievetw 


Transition 

BASKETBALL 

Noftottdt Boskerbotl Assodofton 
CHICAGO— Stoned Ron Brewer, sword. 

. . FOOTBALL 

National FaettaH Lmut 
• GREEN-BAY— Released Joe Profcao, oont- 
tr. , - 


Golden State 45 1 Car rod 8). Utah 47 (Malone' 
IS). AtUitt: Golden State 22 (FWvfl 9); U Wt 
31 (Green. Stackfen. Matane 6). 

Son Antonie 12 17 18 20- 97 

Milwaukee 36 22 29 29—126 

Pferce 10-146-7 26, HOdom 69 2-216; Milch- 
eU fr-M 5-7 17, Greenwood M8 W IS. Re- 
bBUBds: San An ran to 63 (Giimor*9j; MitiMHi- 
kee S» (Brener 10 ). ASSHta: San Antonio 20 
r Moore 7); Milwaukee 36 IPrnswrv 101. 
Atlanta 34 27 23 29—113 

Denver 37 31 27 31-128 

English 11-20 11-12 3X Evans 6-11 2-2 II; 
KanCBk649-l62),W1llls7-95-6 19. RetMuadi; 
61100(067(19101110); Denver SI (Schovesfll. 
ASitsn; Atlanta 11 (jotouan 6); Denver 27 
(Enullsn. Ham! Hi 61. 

Ctcvefood 17 31 29 25-179 

LA. LOkerc 38 27 28 26-111 

Jenm9-1469 74. BeotovP 162-2 9L Free 9-14 
1-3 20; Johnson 8-13 7-a 22. Worthy #-U 4-5 20. 
ReMood*! CteueMta 64 doom 12); t_A. Loft- 
on S3 (Johnson 8), ASttots; Ctovoiand 28 
IBOoJeyll); LA, Lakers 3* I Johnson, Cooper 
I). 

New York 29 is M 21— ee - 

Seattle . It 23 1* 14-44 

McDantot8-15543I.Wdad6>168430. Ewlno 
8.106-6 72. tttodurr W&S* 17. Rubouads: New 
York 21 (Wilkins. Ewirw- Bonn! star 6), Seat- 


SPORTS 




Page L9 


Soviet Women Gymnasts Lead 
Olympic-Giampion Romania 




Wr jm& ^.1 


iJ 


CanpiU'j 7*i Otr From Oapu tdxi 

MONTREAL — The depth of 
the Soviet Uni cm learn allowed it to 
survive dismal uneven parallel bar 
routines by two star? and lake the 
lead over Olympic champion Ro- 
mania after Tuesday night's wom- 
en's compulsory e\ erases at the 
world gymnastics championships. 

A fall from the bars by defending 
world champion Natalia Yur- 
chenko and two by Elena Shou- 
shousova. her 15 -year-old team- 
mate (and the reigning European 
champion favored to unseat her), 
caused an Uth-bour shift in the 
individual standings. 

Olga Mastcpanova, considered 

the fourth seed on the six-member 
Soviet team, scored a 10 with her 
final event, the balance beam, to 
move into first place in the individ- 
ual standings with 39.275 of a pos- 
sible 40 points. 

Second, with 39.175 points, was 
Romanian Ecaierina Szabo, the 
powerful tumbler who lost the 19S4 
Olympic gold medal by five- hun- 
dredths of a point 10 * American 
Mary Lou Rction. 

Yurchenko managed to take 
fifth place with 39.000 points, be- 


hind Soviet :eam.r.azes Oksana 
Omdiar.tchiA t5S.l25j and Jft«j3 
Baraksanova f 29.100;. bu: Shou- 
shounova dropped ‘Jr.t second 
Id among indiv.dua- scorers 

The scoring has bees taker. :o t 
three decimal pipes* for the firs:' 
time in as 3ttempi to n^ke a per- 
fect 10 a rar.tv 

The Litcraiticsai Feiera Pen of 
Gymnastics had said thai it is urg- 
ing judges to ra: dowr. on 10s, 
awarded in abundance at Iasi year's 
Olympics. 

East Germany used the strong 
overall perfomtance of «udi-L'£h* 
esi individual score?. Rersten Dag- 
mar. and a 10 by Gabriele Fnhr.ru: b 
on the uneven bar? to finish the 

co rr^ju Iscries in third piace in the 
team standings. 

The Soviet Unto? sored 195 .900 
points overall. fo"cia-ed by Roma- 
nia 193.450. East German v 
192.S75, Bulgaria 551.S25. Czecho- 
slovakia 19fr;. Gt±a 190.725. 
the United States 1^9.425, Hunna- 
ry 188.600. Canada lit. 6CQ id 
Japan 136.175. 

Along with uie Russians, ‘-he re- 
building Olympic saver-medaiist 
U5. team also performed poorly 


wi the uneven bars — usually 
among its stronger routines — but 
rallied to finish seventh. 

“We had a weak Mart." said Coa- 
ch Don Pctm, after Jennifer Sey. 
Marie Roclhiisbcrgcr and Pam B*i- 
feck fell off the bars. “We just had 
opening-kickoff jitters — but we 
were tough in the fourth quarter." 

Bileck is the only competitor 
tadc from the 1984 U.S. Olympic 
team, and she said it wasn’t decided 
until last weekend that she would 
compete here. Since the Olympics. 
Bi’eck has had a stress fracture in 
her fco: and has back, elbow and 
knee injuries. 

Amencna Mary Lou Reitoa, the 
Olympic all-around champion, has 
not competed since last March, al- 
though she says she is not retired. 

Twenty-three nations participat- 
ed in the women's team compulsor- 
les. 

All the women will return for 
Thursday's optional exercises to 
decide die team championship. The 
top 35 individuals at that point will 
advance to the all-around finals on 
Saturday; the top eight in each cat- 
egory move to the apparatus finals 
or i Sunday. tUPI. A Pi 


ABDICATION — Michael Spinks, the International 
Boxing Federation heavyweight champion, relinquished 
his IBF. World Boxing Council and World Boxing Asso- 
ciation light heavyweight tide belts on Tuesday . He plans 
to fight solely in the more lucrative heavyweight division. 


Moroccan Gold-Medalist Remains a Symbol of Hope 


17-18 16-19 55 65 

34-24 13-21 53 63 

17-17 15-17 S 3 67 

17-18 15-19 58 62 

random 

No YOI LG TD 
5 63 34 I 

5 43 » 0 

S 36 24 1 

i 21 21 1 

5 12 4 0 


By Julie Can 

Las" Angela Times Senice 

AMES, Iowa — Long before she 
won the 400-meter hurdles in the 
19S4 Olympics, the first time wom- 
en had run that event in the Games, 
Njwal El Moutawakei of Morocco 
was breaking barriers. 

But that victory was her biggest. 
Her gold medal became a symbol 
of victory for African women, for 
Arab women, for Moslems, for the 
Third World. 

To a watching world, El 
.Mouiawakd's tears were tears of 
joy and pride — and amazement, 
because for her to even haw made 
it to an Olympic final was all but 
beyond her hopes. To have won 
was simply amazing. 

-I used to run with my dad,” El 
Moutawakel said, sitting behind 
the desk in Coach Ron Renko's 
track office at Iowa State Universi- 
ty. “He used to take us to the beach 
and draw a line like this and say, 
‘When I do my hand like this, you 
run to me and stop.' 1 used to beat 
my cousins and my brother. It was 
no bigdeaL My dad used to give me 
sandy for winning.** 

The father recognized the daugh- 
ter’s aptitude. but was not sure bow 
to direct it. Thriis was a society 
requiring that women's bodies be 
fully covered. Most Moslem fathers 
would have been shamed if their 
daughters had competed against 
boys. Mohamcd El Moutawakel 
was not most fathers. 

"My dad lived with some French 
people and he kept some of it,” El 
Moutawakel said. “He grew up, I 
would say. 

"He always taught us the way 
these people lived and the nay they 
taught thar children. My dad was 
very liberal by Moroccan stan- 
dards. When I traveled to Europe 
for trade, 1 saw other societies and 
how people lived. When I came 
home, I would tell my father and 
my brothers bow these people 
lived. We were a relaxed family, 
different from other Arab fam- 
ilies." 

El Moutawakel, now 23, was dis- 
covered by the Moroccan track and 
field federation when she was 15 
and outrunning all the boys in Ca- 
sablanca. She began to navel with 
the national team when she was 17. 
She was immediately successful, 
but she was looking to get out. 

She and her father agreed dm 
with the level of competition avail- 


able to her in .Africa, she wasn't 
progressing. The more she thought 
about it. the more convinced sb- 
became that she rhe-uid loci for a 
school in the L' cited States. 

At the 19S3 worid champion- 
ships in Helsinki, she struck up a 
conversation with Nigerian Sunday 
Un, who had a schriarship a: low-a 
State. Uri ief: with E Mcaiawa- 
kel’s address and promised she’d 
hear from the women's track coach. 
E Moulzwakei shrugged 

“One day I zot a big envelope 
from the Stales.” she said. “I 
showed my dad They sent me 
forms ro fill oul But we weren't 
really sure. I put i: away. It was 2 
big decision. Then all of a sudden 
one day I started to fin out the 
forms. I took them to m> father, 
'Here, I want you to sign this.' 

“He said 'You are jaug for reaL 
Now we go 100 percent.’ " That 
meant eight hours a day of English 
language instruction. 

Her father was tore by a desire 
for his 20-year-oid daughter to suc- 
ceed and uncertainty at" sending her 
10 a foreign land and society. “He 
was crying when I left.” she said. 


“On our way to the airport, he said 
‘No!’ and then he wem back. He 
made the turn and he came back 
home. He said. ‘1 got to get some- 
thing.' There was nothing. He was 
still thinking he didn't want me to 


E Moutawakel arrived in Des 
Moines on a severe January after- 
noon. Neither Renko r.or Pat Moy- 
nihan. his assistant, was able to 
meet her at the airport, instead 
they- dispatched a member of the 
women's team. 

“She drove me to Ames." which 
is aboui 25 miles [402 kilometers] 
north of Dcs Moines, El Mouiawa- 
kel said. “I didn't know what was 
happening. I said. 'Where are we 
going? Why are we driving so far? 
WTiere is Iowa Stale University? 
.Are you Pat? Is Pat a man or a 
woman?" 

Pat Moynihan was, and is. a 220- 
pound [99.7-kilogrami former ham- 
mer thrower from Princeton who 
spent more than a year in Saudi 
Arabia getting paid a lot of money 
to coach distance runners. He said 
that his experience in a Moslem 


country helped him in coaching E 
Moutawakel. “1 knew what not to 
do," he said. He greeted her in 
Arabic, and a friendship was bom. 

“The first thing 1 noticed about 
her was that she wax a dedicated 
athlete." Mcynihar. said. "She de- 
cided that every workout had to be 
done with great intensity. Fine, but 
there were some workouts I didn’t 
want that. Luckily I knew how- to 
say. 'Shew a’ — slow- down." 

She had beer away from Moroc- 
co for a month and a half when she 
got a ol! from her oldest brother. 
“My father had died [in a car acci- 
dent] the first week I was here, eight 
days." E Moutawakel recalled. 
“They decided not to tell 

me My brother called me and 

he said. Tam coming.' 

“I say, ‘What for?' 

“He said. ‘My dad wants me to 
come over and see how you are 
living.* I wasn’t sure what was go- 
ing on." 

Her brother arrived, and his duty 
was to teU E Moutawakel the de- 
tails of their father's death, and to 
take her back to Morocco. 

“I was talking to my mother lai- 






‘.-'••XA. 






t -act.;’! 

4 









H* Asuonad hoc 

Nawal 0 Moutawakel. carrying the Moroccan flag after winning the Olympic 400-meter hurdles. 


cr, and I think one of the reasons be 
had the accident was because j 
left.” she said. “He went home and- 
locked himself in a room and he 
wouldn't talk to anybody. He was 
just thinking. ‘What have f done? 
Did 1 make a mistake to send her 
there?’ I think when he had the 
accident he was thinking about me. 
It was dark outside. His car jus: 
crashed. He died.” 

And here was her brother, ready 
to lake her home. But she didn’t go! 
“Ron and Pat came and talked to- 
me. I understood. I said. My dad 
new is gone. He sent me over here 
to improve and to go to school.' 1 I 
end up staying here b eca use I want 
to achieve his dream of what hr. 
wanted me to do." 

After her Olympic victory, Mo- 
rocco's national treasure had be- 
come a treasure as well for the 
entire Arab world. Suddenly. E 
Moutawakel was a symbol. 

“I feel a big responsibility.'' she 
said. “In the Arab press, they don't 
come to interview me to know what 
are my [track] goals, like the Ameri- 
cans and Europeans. They say. 
'How do you feel now that you are 
a symbol? You have saved Arabic 
women. Arabic women used to be 
in jail. Now that you won. it’s going 
to allow them tc. come out and 
work out and race. How do vow 
fee!?’ 

“I don’t know what I should say. 
They ask me political questions.’) 
just don't know what to answer. I 
say, ‘Hey, all this stuff is not for 
me.' 

“All I know is that the obstacles 1 
lump, the hurdles, are true for me. 1 
can touch them. I can jump them. I 
know that it is true. 

“They say. ‘You can’t imagine 
what you mean toother Arabwom- 
cn,' but I know. I read the newspa- 
pers and magazines. I receive much 
mail from girls who want to be like 
me. I understand the feelings of 
these women. But I don't know 
how to be a symbol." 

What she wants is to be ths- 
wfcrld- record holder. “In my life. I 
like to have a better situation." she - 
said. “I believe you should fight so 
you can be better. I do what F have 
to do 10 be the best. I don't think h 
have reached my peak. 

“My goal for 1986 is to break the 
world record. That has always beer, 
my aim and my dream, and th&- 
dream of my father. Now. it his 
come to mean much to my people."- - 


Cavs Spoil Lakers’ Party 


MIAMI — Waived Eric Lootao. offentfv* (M 47 (MCDonlet 141. ABfct*.* Hew York 1$ 
hwmon. ISuorro** 6). SwHto 19 tHeoOeraon 6). 


CompUeJ by Our Stef} From Dispatches 

INGLEWOOD, California — If 
the Los Angeles Lakers win anoth- 
er National Basketball Association 
title this season, they might plan to 
send the championship rings 
through the mail and hang the 
championship banner in private. 

Commissioner David Stem pre- 
sented the Lakers with their 1984- 
S5 rings and their title banner was 

NBA FOCI'S 

unveiled in a 25-minute ceremony 
at the Forum here Tuesday night. 

A couple of hours later, Los An- 
geles lost for the first time this 
season, by 129-1 1 1 to the Cleve- 
land Cavaliers, who won for only 
the second time in six games. 

“It was the same kind of ordeal 
that we went through three years 
ago," said Laker Coach Pat Riley, 
referring to a 132-1 17 loss to Gold- 
en State after a similar ceremony in 
1982. 

“We were playing a team hitting 
45 percent,” said Riley, after 

watching the Cavaliers shoot 67 
percent. “We wanted them io beat 
us over the top. They did thejob in 
the trenches.” 

"I was feeling great, receiving the 
ring and remembering what the 
championship meant,’* said Earvin 
Johnson, who led Los Angeles with 
23 points, eight rebounds and eight 
assists. “We know everyone will be 
gunning for u& The Cavaliers shot 
67 per coil to our 42 percent. We 
won't win any games shooting like 
thaL” 

Other NBA winners Tuesday 
night were Utah. Milwaukee, Den- 
ver, New Jersey. Houston and Seat- 
tle; 


Cleveland’s 1-4 start didn’t flag 
its confidence, and Coach George 
Kart and the Cavaliers proved it 
ag a ins t the Lakers. “The guys know 
they can play with any team." Karl 
said. “It doesn't matter if it’s the 
Lakers or ihe Celtics. We believe 
we can win.” 

Cleveland got stellar perfor- 
mances against Los Angeles from 
point guard John Begley and Edgar 
Jones. 

Jones. 3 backup forward-cer.ter, 
had 24 points and 12 rebounds, 
while Bagiev added 20 points and 
II assists. 

“We felt we could run with the 
Lakers, and Bag had a great nighti" 
Karl said. “It’s a great victory . Last 
year we came in cere after warning 
six straight and got blown out by 
25. It's strange, but we play better 
on the road. We have act won at 
home yet, and this is our second 
win on the road. 

“We stay menially into the game 
on the road. I don't know why. 
Maybe because we are away from 
our families." 

Cleveland led, 37-30, after one 
quarter, and hit its first 13 shots m 
the second period before moving 
out to a 75-57 bulge at halftime. 
The Lakers, cow 4-1, sever threat- 
ened in the second half. 

"You can’t make mistakes 
against them.” Jones said. “We 
kept ours to a minimum . 

“I won’t say they thought I was 
the weak link, but they were leaving 
me open for my shei," said Jones, 
who is averaging fewer than nine 
points per game for his career. “We 
came to play as hard as we could. 
We aren’t going to be blown away 
anymore. We are earning our re- 
spect in this league." MP. L'PJi 


Astros Hire 
Hal Lanier 
To Manage 

77ic- Associated Pent 

HOUSTON (AP) — Hal La- 
nier. a coach for five years un- 
der Manager Whitey Herzog of 
Sl Louis, has signed a two-year 
conimci io manage the Hous- 
ton Astros, the National 
League baseball club an- 
nounced late Tuesday. 

In replacing Bob Lillis, who 
was fired Oct. 7. Lanier be- 
comes the ninth manager in As- 
tro history. Houston finished 
third in the Western Division in 
1983. tied for second in 1984 
and tied for third last season. 

Lanier said he would like to 
eonven the Astros into an ag- 
gressive. base-stealing team. “1 
don't tike to see a club that goes 
tusc-io-basc." he said, “and I 
think that's the type of club the 
Astros have been." 

Lanier hopes to hire veteran 
manager Yogi Berra as an assis- 
tant coach. “I talked to Yogi 
yesterday,” he said, “and we 
think he'd be a good addition. It 
would be nice to have him there 
if 1 want to ask a question ” 

An infidder. Lanier ended 
his major-league playing career 
in 1973. As a minor-league 
manager in the Cardinal sys- 
tem, he led Gastonia to the Car- 
olina League title in 1977, and 
In 1980 look Springfield to the 
American Association champi- 
onship. The son of former Car- 
dinal pitcher Max Lanier, he 
joined the Sl Louis staff as a 
coach in 1981. 


Haworth Spurs Capitals 


Cmptled K Our Staff Fn-m Dtifurehe: 

LAN DOVER. Maryland — The 
Washington Capitals have been 
among the besi defensive clubs in 
the National Hockey League for 

NHL FOCI'S 

the past three seasons. What 
they’ve needed is another offensive 
threat, li turns out that all they- had 
to do was move Alan Haworth 
from right wing to center. 

Haworth scored two goals and 
added two assists Tuesday night in 
sparking the Capitals to I heir big- 
gest offensive output of the season, 
an 8-4 victory over the Chicago 
Black Hawks. 

“1 played there a whole lot when 
1 was in junior." said Haworth, who 
was moved to center two weeks 
ago. He has goals in six straight 

games, the longest streak in the 
league this .season. 

“I never really had the chance as 
a pro to show what 1 could do as Tar 
as sailing goals," he said. “Now 
I’m not only scoring. I'm getting 
just as many assists. I'm really not 
looting to shoot more, though — 


it's just when you're at center, you 
can go all over ihe ice." 

Haworth ei tiier scored or assist- 
ed on four of Washingtons first 
five goals. Chicago suli had a 
chance to pull the game out in the 1 *- 
third period after [rimming the def- 
icit to 6-4. 

But there are reasons the Black-. 
Hawks are 4-7-J. “Our special - 
teams aren’i doing it,” said Coach 
Bob Pulford after watching his 
learn score on only one of eight 
power plays while allowing the 
Capitals to eonven three of six. 

Doug Wilson had his own expla- 
nation. “It’s the line things that 
killed us — stupid penalties like' 
mine." Wilson drew a penalty at : 
11:14 of the final period, when Chi- 
cage appeared to have the Capitals 
on the ropes. In the nexi 35 sec- . 

onds, Washington saired twice in. 
extending its winning streak 
against the Black Hawks u> five 
games. 

Other NHL winners Tuesday.; 
night were Quebec. Montreal and 
Edmonton: Calgary and the New 
York Islanders lied iaP. VPh 


Drug Testing Set for Men's Tennis Tour 


The .(ui< iLirJ Press 

LONDON — The Men's inter- 
national Professional Tennis 
Council on Wednesday unani- 
mously approved man ila ion drug 
testing of plavcTs. 

To begin in 1986, ihe testing will 
be for cocaine, heroin and amphet- 
amines. The rule's passage had 
been recommended by the Associa- 
tion of Tennis Professionals. 

The testing, by an independent 


expert selected by the ATP, will be 
authorized during a calendar year" 
at any two of the Five largest lour- 
namems — the French Open,.- 
Wimbledon, the U.S. Open, Aus- 
tralian Open and the Masters. 

All players entered in ihe select- 
ed tournaments will be subject to 
testing. If a player refuses to coop- 
erate or to undergo treatment if 
drugs are found in his system, he 
would be subject to suspension. 


V 







Page 20 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 7, 1985 


ART BUCHWALD 


PEOPLE? 


Stately New York Homes 


Portrait of the Artist in a Platinum Hairpiece 


YlT ASH1NGTON — Years ago 
* when Jackie Onassis was ihe 
“1*1 lady of ihe Uniied States, she 
conducted a TV tour or the White 
House. My sister was so inspired by 
the event that she gave roe a tour of 
her three-room apartment in 
Queens, New York. 

I was under the impression she 
had retired from the stately home 
business until 1 received a call from 
her the other 


day. “The Brit- 
ish swells have 
sent their great- 
est art treasures 
to the National 
Gallery in 
Washington this 
month." she 
said. “What are 
we sending them 
in return?" - . 

“Nothing spe- Buchwald 

dal that I know of." I said. 

"That's what I though l My girl- 
friends and I have a great idea. In 
exchange for the English lending us 
their heirlooms we would like to 
ship them treasures from the homes 
of Flushing. New York." 

O 


“Did you ever find out if it's the 
original ‘Blue Boy' or not?" 

"The non who sold it to roe said 
if it wasn't the original it came 
awfully dose. I'm not the only one 
willing to part with treasures. Doris 
Deronow wants to send a needle- 
point sampler which she made her- 
self. titled ‘God Bless Our Home.' " 

"Thai's classy. The only place 
I've ever seen anything like it was in 
a Hallmark greeting card shop." 

"Barbara Lupin has offered to 
pan with a color photo of her 
grandchild. She says it has never 
been shown in public before. But 
she won't lend it unless a guard is 
stationed in from of it day and 
night." 

□ 

"The Tate Gallery has plenty of 
guards. What other treasures would 
you Like to send to London?" 

"Laura Brown has a pair of Ron 
and Nancy Toby mugs which she 
purchased in Atlantic Gty. They 
were crafted bv skilled artisans in 


By Mary Battiara 

H'asfiur^iort Past Service 

W ASHINGTON —The plat- 
inum wig is perched like a 
Pekingese above his own black 
hair. His dry lips float in a face 
the color of chapped hands. It’s 



Andy Warhol, king of the club 
crawlers, Lazarus of the under- 


crawlers. Lazarus of the under- 
ground gone uptown, and for the 
next week, prisoner of his own 
book tour. 

"My editor is making me do 
this," he says cheerlessly, "so I 
am." 


Hong Kong, and the shopkeeper 
told Laura that they were already 
collector's items." 

"I may be wrong, but I don't 
believe the British have ever seen a 
Hong Kong Toby mug before." 

"What we're trying to do is orga- 
nize our treasures so that it gives 
the English some idea of how the 
bluebloods live in Flushing. We 
have Myra Stieglitz nearly talked 
into parting with her queen-axe 
sleeper sofa. It's an heirloom be- 
cause it has been used by three 
generations in her family." 

"What is so special about it?" 

"In the daytime it can seat three 
people, and at night all you have to 
do is remove the cushions and it 
turns into a bed." 

“Why is Myra hesitating?" 

"She is afraid if the Tate Gallery 
borrows it. her kids' friends won’t 
have anyplace to sleep when they 
come home on school vacation." 


"You told me the people of 
Flushing would never let their heir- 
looms out of their houses." 

“We're now willing to do it pro- 
vided they are insured by Lloyds of 
London." 

“Who is we?" 

“A few homeowners in my 
neighborhood. We call ourselves 
the ‘Magnificent Six.’ We would 
have been the ‘Magnificent Seven' 
except Martha Bordinsky's slipcov- 
ers won't be ready for months. The 
thought we had is that if the British 
are willing to display what they 
have in their stately homes we 
should give them some idea of what 
we have in ours." 

“What an treasures are you pre- 
pared to send to them?" 

“I'm willing to lend 'The Blue 
Boy 1 — the one I bought in a garage 
sale in .Astoria last vear.'' 


Pacific Folk Art Sold to Japan 

The Associated Press 

LONDON — A collection of Pa- 
cific folk an. including canoes, 
masks and weapons, has been 
bought for £600,000 (about 
SSS7JU00) by the National Museum 
of Ethnology in Osaka. Japan, 
Newcastle upon Tyne University 
announced Tuesday. 


"You seem to have everything 
under controL Why did yon call 
me?" 

"The girls wondered if you 
would contact Prince Charles and 
Princess Di and ask them tostop by 
to preview our an treasures on their 
way to Kennedy airport." 

“1 would be happy to. One more 
thing. I'm curious about how you 
selected the masterpieces for the 
exhibit." 

“We all closed our eyes and 
thought of England." 


Somewhere deep inside his 
huge black leather jacket (“It's 
Calvin Klein, but I only wear Ste- 
phen Sprouse"), his shoulders sag. 
His book editor, who looks a bit 
like Tab Hauler, hovers nearby. 
Warhol licks his lips, his dark eyes 
glitter behind the neon-pink 
glasses, it is a painful sight: por- 
trait of the artist wailing to have 
his teeth drilled. 

The new book is called “Ameri- 
ca," a collection of photographs 
of the fey and famous, and pen- 
sees like this (flanked by a picture 
of Howdy Doody): 

“What I don't understand is 
why every time an underdevel- 
oped country starts to get devel- 
oped, the first thing they do is 
manufacture knickknacks and 
send them over here. I mean stuff 
like musical toilet paper dispens- 
ers and calculator pens. Who gets 
them started making these things? 
Why don’t they show them how to 
be self-sufficient foodwise?. . . 
It ends up that we're sending guns 
and food to the world, and the 
world is sending us doodads." 

He promised everyone IS min- 
utes in the spotlight but he's been 
cruising the fame lane for more 
than two decades, the prince of 
Pop Art the Campbell's soup can 
man. He is signing copies and 
doing interviews in Washington, 
then on to DetroiL Chicago and 
Los Angeles. It is going to be 
rough sledding because he can't 
think of much to say about the 
book. Answers to questions trail 
off into desperate silences. He 
lodes at his hands, smiles politely, 
cocks his head. “There are people 
who really love to ialk- and they 
should. I never think I have that, 
much to say." 

There is a long silence. A siren 
wails outside. Somewhere people 
are having fun. "Well." he begins 
a gain, lifting a hand toward the 



l AMERICA 


Lsoan fartra/lb* Waters Poo 


Andy Warhol and his book on the United States. 


window, “it’s so beautiful down 
here.” 

Outside the Govinda Gallery in 
suburban Georgetown, the young 
and the restless have begun to line 
up for the book signing. Most of 
them well under 25. Curious, rev- 
erent, excited, waiting patiently 
for the Bruce Lee of bland, 
shrewd as the neighborhood loan 
shark, a pale, weak-eyed water 
bug quivering his way across the 
fluid surface of American life. 

“It's neat," says a pilgrim. “It's 
not like the Picasso stuff where 
you can look at it for hours and 
not be able to figure it out." 

The Govinda Gallery has the 
Warhol franchise in Washington. 
Huge sQk screens line the walls: 
endangered animals, the Cologne 
cathedral, Ronald Reagan's Van 
Heusen shin ads, Judy Garland 
preening in Blackglama. Take one 
home for $2,000 and change. “In 
the ’60s." says one browser, “you 
could have gotten them for a 
song." 


Copies of the book are piled on 
tables, awaiting his fat. black sig- 
nature. “It is a work of blinding 
insight, a book of strange beau- 
ty.” the jacket note swoons. 
“.Andy at his f unni est and most 
touching. . . . A love letter, a re- 
membrance, an astonishing por- 
trait of modern life." 

Warhol licks his lips again and 
looks embarrassed. “It's a diary. 
Since I have no memory, 1 take 
pictures. I don't know why I don't 
have one. 1 wish I did. I don't 
know, Fm just missing a brain 
chemical that does that to me.” 

He was maestro of the Warhol 
Factory and film school, Svengali 
for art tarts with names like Viva, 
Pope Ondine and Billy Name. 
And Edie Sedgwick, the incandes- 
cent Yankee debutante, Warhol 
high priestess, whose druggy de- 
cline and fall was chronicled in a 
1982 biography that detailed the 
squalor of their world. 

After the book appeared, re- 
viewers dubbed Warhol the 


Prince of Ether, Lhe ultimate insti- 
gator. “Oh, wdl ran, that book," 
he says. “Well I just read a little 
bit of iL wdl the bode was about 
Edie and I thought there was a lot 
of stuff about me that wasn't — I 
had nothing to do with Edie, I 
didn't really know her that long 
but Jean Stein kind of stuck me in 
as somebody really important and 
1 wasn’L" 

Truman Capote once wrote of 
Warhol: “1 flunk Edie was some- 
thing Andy would have liked to 
have been; he was transposing 
himself onto her k la Pygmalion. 
Have you ever noticed a certain 
type of man who always wants to 
go along with his wife to pick out 
her clothes? I've always thought 
that’s because he wants to wear 
them himself. Andy Warhol 
would like to have been Edie 
Sedgwick. He would like to have 
been a charming, wdl-bom debu- 
tante from Boston. He would like 
to have been anybody except 
Andy Warhol" 


He seized the surface and made 
it his with his vibrant.- icono- 
graphic silk screens of Mari lyn 
Monroe and others- He c rest ed 
Interview the ad-hea'y 

tabloid. Now he is doing TV vid- 
eos and modeling for Ford (“Live 
shows, that’s what I really wanted 

to da trying to get less stared and 

shy and stuff like that") and ago- 
ing books, signing posters, sflk 
screens, postcards, snapping pic- 
tures. parties, parties, parties. 

The book is bursting with pic- 
tures of celebrities: the McGuire 
asters, Melvin Laird boogying. 
Capote in profile with black 
stitches from a face lift showing. 
Farrah Fawcett and Ryan 
O'Neal “He and Farrah must be 
the most beautiful roost Ameri- 
can couple," the ten croons. 
Phyllis George; “Aspen's John 
Denver," Nancy Reagan, Ronald 
Reagan. Ron Reagan Jr., Doria 
Reagan, tots of Ragans. Nancy 
Reagan calling Warhol by his 
first name. A shy guy, Mr. Main- 
stream, Andy Workaholic. . 

“Everything that seems wild 
becomes mainstream today." ex- 
plains Craig Nelson, a bode edi- 
tor. “Nowadays every issue of 
People magazine covers at least 
one eccentric person and David 
Lettennan has a whole show — 
somebody’s on every night. 
There's always a thing about 
downtown moving uptown." 

Why does such a shy guy go out 
so much? Before Warhol can an- 
swer Christopher Makes, photog- 
rapher and Warhol protjgfc, sdf- 
coosdbtis imp, whirls from his 
perch at the other end of the room 
and answers: “To make money." 

The art critic Calvin Tompkins 

once described Warhol who grew 

up. by the way, in McKeesport, 
Pennsylvania, tire child of Czech 
immigrants, as having pursued' 
fame with the “singleimndedness 
of a spawning salmon." Warhol 
dismisses that,- saying that he just 
likes meeting new people. “I try 
with the magnyitw to meet new 
people and faces and fashions. 
Uh. it’s like every day’s a new 
day." 

He brightens visibly for the 
first time in an hour when told 
that Interview is one of the maga- 
zines to be included on the royal 


Fashion Extmie&yf 
Held for 

try tiuw n U^'= 

Titeie with firewotp 1 ‘ 


raise money fcr .'«*!- 1 

rim*. Eighteen j 

ing designers ^ I 

sen and jackets. w ™ * 

as tire biggpt ^ . 

to raise SI* 

Sw^adFaihion Aid T-Sh.ru. h- 
tire designers. 

□ 





Jewish protesters will continue 

to block the staging of » 
sial Rainer Werner Fassbinder 
pfay, a spokesman for dw Frank- 
furt Jewish community said Tu&- 
dav. while theater crincs argued 


that the (flay was not anu-Senuiiw. 
Mkbd FneAnao said that the Jew- 
ish group would stick to their plan 
of blocking the performance of me 
play. “Der Mflll die Siadt und der 
Tod" (Garbage, the City and 
Death), whose premiere was can- 
celed last Thursday after Jewish 
ticket-holders occupied the stage, 
and postponed again Monday. Af- 
ter watching a reh ea rs al . of the play 
conducted for journalists and the- » 
ater critics on Monday, many con-f- 
duded the play was not anti-Semit- 
ic. They said that the staging 
de-emphasized the central figure. 
awt focused instead cm the life of a 


dllU 

prostitute befriended and later 
Eilferi by “the rich Jew." The pre- 
mare is currently set for Nov. 13. 


night table daring lhe three-day 
visit of Prince Charles and his 


visit of Prince Charles and his 
wife Diana. “Oh, really? God!" 
he says. 


•Jnt CshaBero, 24. a furniture 
store ddimyman who won S2 mil- 
boa in the California lottery tins 
week, may also have won a free trip 
back to Mexico. Caballero is in the 
United States illegally. “He’s no 
different any other illegal 
afien." Humid Erefi, regional com- 
missioner for the Immig ration and 
NatmaBzatxm Service, said hi San 
Jose, CaSfocnh. on Tuesday. “He 
wifi not get preferential treatment . 
nor get ignored by os because he 
won a0 tins money." Ezdl said Ca- 
ballero has two didoes. He can 
return to Mexico voluntarily, or 
face a deportation hearing before 
an immigraiioa judge. 


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pramnatety 65 Uameterf, comprising 
the 47km ChanphoroMbowe secnon 
and the 18km Mcimba spur. 


Cal for AAetTs free eshmdfe 


REAL ESTATE 
FOR SALE 


Legend For Sde 

THE WORLD'S MOST FAMOUS 
HOTEL W NEW YO« OTYI 



an kitchen A bath, in perfect con*- 
Iton, sunny, quwt. rB500. 4720 3799 


RANHAGH 


CORSICA 


The ChamphoyoMbowe seaian runs 
northward from Chomphoyo. whch is 


nme 290km from the caphd, Liongwe. 
to which 4 a connected by a surfaced 
road. Mbowe Kes southwest of Mam, 
the man a bat center of the Nathan 


Segion. to which it b Meed by 17km of 
surfaced road. The new d i gnm e nt gen- 
erally falk>M the existing unsurfaoed 
Ml 2, running through Wf tenon, 
rangng from 1500 to IBM meters 
above sea level 



Luxury For Sale 

THE ONLY "Urn-DaiaE" 
NOTH. IN WASHINGTON, D.CJ 


SHORT TERM STAY. From I week. 
Fifty equtoped stocks and 2 rooms. 


7th QUAI D*ORSAY. Mognificient 
view, lovdy double Svmg. 2 bed- 
rooms, 2 boths, eot-m lutdien. bdeo- 
nies, goroge. F20 JOO; 4720 3799 


drmg roam, 3 bedrooms, 
d fataten. FI 2,000 + charges. 
TOIIE 47 64 03 17 


DE L"ETOIi£ <7 64 1 


AUTHRL on private garden, duplex, 7 
rooms 3 bade, garage, high doss. 
FI 9.000. Tek 42 Klim 


ST GERMAIN EN IAYE Hgh dew, i 
garden, 3 or 4-room Bate from F63C 

Ull) 42 25 32 25 


FOR TIC FEATURE 

MTBtNATIONAL 

POSITIONS 

TURN TO PAGE 6 


I DUTCH SAXES B4G1MER. 5^,Exp» I 
| nence & good cashjLts m dnhore, | 
petradwmiad industries, power ft 


rardecr power sttsttons ft engmecring 
offices al over Europe, flood bxwrt- 
odae of EngfiilvGawxxvftench 
Seeks paeMan as repmerttriv* to 
company an the oadinert. Odekor- 
ken, 57 Geraeadelaai. 2390 Weekk 
Bdgiwn. Teli muisms afterl 
am. os Paris It) 4224 8064 any tune. 


; 11)42 25 32 25 

SWITZERLAND 


EXECUTIVES AVAILABLE 


Principals Only Please 


1ROGADERO 4 ROOMS 

Comforts. F6600: 43 25 09 29 


CHAMPS RYSffiS. ftece 
rooms, 2 baths. F20.QO0. 
tenn. Tel: 43 80 40 33. 


LUGANO FOR RENT, CHARMING 

townhouse on mountainside, 5 min- 
utes from certer. 3 bedrooms, 2 baths, 
terraces, private garden, 2-car go- 


FRENCH PROVINCES 


WORLD HOTBS GROUP 

165 Bkxkheath Road 
Lido Beach. New York 11561 (USA) 
Tek 516-599-0300 


AGB4CE CHAMPS aYSS. II rue 
du Cofate, Paa 8th. Tek 42 25 32 25. 

Large ctxxce of furnished np o t n ie nti , 
ol □rrondasefnenfs. 


PARIS 1 6th, 2-ROOM APARTMENT, 
kitchen, bath terrace. F5000/montb 
+ deposit. Tek 45 03 38 39 


MANAGER 44, OVR. BfGMEBl 

tngiih/ Arabic background, long ex- 
penance *i (M engineering proyxh 
m AMeast countries company man- 
agement, business development and 
inti refctnns, seeks senor Permanent 


EXECUTIVE MANAGER 47, Greek 
born, single, 5 ksnanges, 20 yean 
inti experience wMt luxurious hateb 


sprees) owe j 
SF2.45Q/ month Reman moving to 
U.S. AvaSoble Jan *86. Contact own- 
er Prints 091/54 36 85 a Office: 
091/231124 


SHORT TERM M LATIN QUARTER 
No agents. Tek 4329 3883. 


rin idctae, seeks senior permanent 
posmonor company repr es entation in 
Kuwait a other Guf or MxJaasf coun- 
Ines. Contad now: Mr. SMH, Kuwait: 
telex No. 22006 A/B AMA KT. Trie- 
phone No. 1965) 538 6161 


ufl experienc e wMt tuxunous hotata 
in importable positions seeks chal- 
lenging job. (A. Monger a executive 
cnnstonl mcmager ei 4 star base! (B. 
Executive, coitntuiid a uuUliny 
position. A wofabfa Dec 1, 1WS lor 


Anetsnkee: 2636-15 l 
AM senec 361^397/3602421. 
Drsitoeh. 343-1899. 
Cnyi e irim flen (M) 32944a 
FrmAhrt: (069) 7367-55. 
Lmom: 29-5841 
Uebe* 67-27-93766-25-44. 

I endin' (01^8364802. 
M adri d. 45MB91/455330A 
AO» 102)7531445. 
Norway: JD2J 41 29 53. 
Rom 6793437. 

S wede n: (OB) 7569229. 

Tel Avfv: 03455 5S9. 
Vlauuu- Contact Frankfurt. 


■rSSSMi tf 

Ten Jeeec 22-TOSS 
I m M s^ ee CTSISKF 
Sae fa te BS2 1B93 


oro3<l«7/8A>. 
: 416535. 


ledrlidi 667-1500 
UJLEzDofaai 224161. 


MKEASr 


ony area Write Boot 2237, Herald 
Trieoae, 92521 Netjy Cedex. France 


UNVODSTAIiS 


The M anila sp ur departs from the ex- 
isting surfaced main road at Q poke 


wrfaced (twin rood at a port 
some 35km to Ihe south of Chompnayo 
and generefty foBaws the e xi sting un- 
surfaced Ml through easy tenon at an 
obihide between 1300 and 1500 meters. 


CANNES. TO MM5 WALK horn the 
beach Sea view from all 7 rooms of 
this 3-storey riHa. Roam fa o pool in 
the 1,300 *4 rn. garden A red buy for 
FlftM. Phono Hark a 93 38 19 T9. 
S3 47 . La Croaette, 06400 Comes. 


CONHDENTTAI1TY ASSURH) 


REAL ESTATE 
TO RENT/SHARE 


International Business Message Center 


CAP FERRAT. WATERFRONT. The 
Cap's IcweEeri 350 sqjn. luxury rife. 
1W acres to sea. Tel93 99 44 14 


CANADA 


ATTENTION EXECUTIVES 


The surfaced canagevroy wx*h wfl be 
&7m with 15m sho u lders. Earthworks 
vriB average about 13,000 cubic meters 
per kilometer on the Chomphoyo- 
Mbowe taction and somewha less on 
the Muniw spur. Subbase and shoui- 
den wd gencrafiy be of naurd gravel. ' 
bus some seetians of sub-bow and eft or 



BUSINESS 

OPPORTUNITIES 


BUSINESS 

OPPORTUNITIES 


BUSINESS SERVICES 



New Yorfc (212) 752-3890. 
Weet Cacab (415) 362-8339. 


Iwirt k tdr. 3900647. 
22^3671. 

Mania: 817 07 49. 
Saoefc 73S8773. 
SnOCRNNW 222-2725. 
TaiwaK 7524425/9, 
Tokyo: 504-1925. 

AUS1KAUA 


SOUTH AFRICA 


FINANCIAL TIMES 


fORSAU 
eo prod 


I YOLff OHKX ADDRESS HAMBURG 

I city eerier, nxakng, telex, computtr, 
drad oxxkBtmg aid merry more pro- 
fessaond buekam serrices. PF 1 10B23, 
D-2 Hamburg II. Tlx 2165059 BPI D 


GENERAL POSITIONS 
AVAILABLE 


*2tS 


mai65aB233. 

: 9295639, 957 4320. 
I2B99 33. 


V.LGJ. 47 66 03 26 


the read base wifl be crushed rack, the 
biter being topped with a two coat 
surface dresang. There wft be a num- 
ber of targe pipe cutverls. 


GREAT BRITAIN 


XVWfe SACKS COBUR. 
Lovely duplex, high up. 2 bedrooms, 
terrace. OPT1M: 45 62 03 03 


Imritarions far Senders are i 
be issued during March 1 
tender period m 70 days. 


PORTUGAL 


fte-quoKficatan wdl be detemined on 
Ihe basis of Emanoaf capatilty & previ- 
ous & current e xp erience in the oav 
Structxm of simto prqeas. Any ffiedof 
requirements A cpncEfiom by ADB wil 
aha be efiten irto conuderotoa 




rate k US. $9.80 or local 
ens t fi rof ewf per fine. You mast 
hdwlt c o rnpl ete and nsrifl- 
able bSEng adds**. 


BUSINESS 

OPPORTUNITIES 


DBm & JEANS 


DUTOf HOUSING CHORE B.V. 

Deluxe renbik Vderiusstr. 174, 
Antsterdan. 020621234 or 623222 


COMMODITIES 


First unit in Ptkxston for irxfigo dyed 
denrm aid leans. G.W. & S.W. having 
uvhome spnwkig, mefigo dyeing, weav- 
ing aid garment unit. Please contact: 

MOOR FASHIONS LTD. 

5th Floor, Sdco Centre 
RA Lines, Karachi 
PAKISTAN 

Telex: 28079 JEANS PK 


SWITZERLAND 


Appkooftai for the pn 
questtamaro riadd be 


SUMIY SOUTHBH4 SWITZBOANO 

LAKE LUGANO 



beautiful park wdh 17jOOOR|-m. private 
dm, mumming pool private mama, 
private beach. 1st qurftty asariments 
80sqjn.-190sqjn. + terraces 24 - 47 
sqjnT Prices: ^63.900 - 5F1.179.150 
on The Reedersia tivotago in fiie South- 
ern aea of the Lake Lugano wfli apart- 
ments 57scpo. -130 sqjn. + bdeomes. 

Aka overiootang take and mountain. 

Best location an rha take in an old 


When in Rome: 

PALAZZO Al VHABRO 

i Luxury opertmanr house with fumshed 

Has, avatafala for 1 weak aid more 


& CLOSEOUTS 

BfiBR FOR EXPORT 


300,000 cnees of Strahs 
10 at. size fresh brewed 


Phone: <794325, 6793450. 
Write: Via del Vetabro 16, 
00186 Rome. 


Nudea power plan 


SF2 10/450 - SF 485.45a Mort- 
al taw Swbs interest rates. Free 
le to foreigners. 


EMERALD - HOME LTD. 


Via G. CaOori 3. 04-6900 Legato 
Tek CH-91-542913 - 
Tlx: 73612 HOME 04 


SUN. N.T. TIMES - Eat 
Write Keyter. POfl 2 . 81 



Steelman gas plant 

POMOF.) 


(212) 593-0680 Days/Eves. 
TLX 5101 008980 

Magnavest - N.Y. 
us*. 


FAMO US JEWELRY STORE 
ROTM DRIVE TOP LOCATION 
BEVERLY HLLSt CALIFORNIA 
Newly rudecsxtxcd includes full work- 
shop tar 12 people. Lang excellent 
lease, low rent. Excellent opportunity. 
Owner must rear*. Phone owner: 
213-274-2Z 77. Resntence 21 J-45T-326B. 
Agents welcome. Prrmee parlang. 


OFFSHORE « UK COMPANES 

Pkfu rioy <md trmt services, donvofio- 
hon, company Formation, inter national 
la*, wht rogisiranon, bank accaaits 
esiabkshed. accounting, mad and telex 
savkn etc. Whnrmgtan Services Ltd. 
23 College HI. London EOS 2183. 
Tel: 01-248 0902. Tlx. 98*587 G 



PARIS AREA 


PERSONALS 


HAVE A NICE DAY! BOKB- Ho«. 

nee day 1 fioW. 


MOVING 


Embassy Service 

8 Awl So Meni n t 
75008 farts 

YOUR REAL BTATE 
AGB4T IN PARIS 
4562-7899 


LOWON 

Fiduoay & trust serrices ‘ Compan-i 
formations & danabatxtn 1 Internation- 
al tax j Bank oacounis established I 
General business adnen & ossstance I 


JPCR. 17 Widegate St. London P 7HP 
Tek 01 377 r*7d. Tl. 893911 G 


YOUR AGENT IN MOROCCO 

SCHAMASCH MAROC SA 

Write- C2 Ave Hasson Setter 
Casablanca 01. Morocco 
Ca4: 272604. 272657. 222221 
TU 22901 


cht 


C*6 


ft