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* 1 u h 1; 


The Global Newspaper 
■ Edited in Pans - , 
Printed Stmaltaneously 
in Paris, London, Zorich, 
Hon 

The Hague and 


INTERNATIONAL 




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Published With The New York Times and The Washington Post 


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> • No. 31,954 


46/85 


LONDON, THURSDAY, NOVEMBER 14, 1985 


ESTABLISHED 1887 




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To Repel 
Uprising 

f Liberia Asserts 
Cuban Troops : 
Backed Rebels 

By Blaine Harden 

Washington Pott Service ■ 

NAIROBI — The Liberian gov- 
ernment of Samuel KL Doe appears, 
to have defeated- -Tuesday's at- 
tempted coup, a U5. diplomat in 
Monrovia said Wednesday.- 
Mr.. Doe’s soldiers patrolled -the 
near deserted streets of Monrovia 
; on Wednesday and manned road- 1 
blocks intended to prevent anyone 
from leaving the capital, according 
; to the diplomat. On Tuesday, there • 
was heavy fighting for much of the 
■ day. 

, The diplomat, contacted from 
. Kenya by telephone at the U.S. 
Embassy • in the Liberian capital, 
said that shooting started op again' 
at daybreak Wednesday on the out- 
skins of Monrovia. By noon, how- 
ever, a tense calm had fallen over 
the city of 300,000. people and 
things appeared to be getting bade 
to normal. 

Speaking late Wednesday after- 
noon, the diplomat said: “Mr. Doe 
has been in control of the radio 
stations for an awfully long tune 
and most of the troops around the 
rity.seem to be his/’ • ’ 

The three radio stations in Libe- 
ria that were seized by rebels Tues- 
day but taken back by Mr. JDoe’s 
krti \ ij.‘ forces later in the day broadcast 
. . urgent appeals Wednesday -for do- 
nations of blood and medical sup- 
plies. They also asked for medical 
staff to come back to work at the 
U.SL-btrilt John F. Kennedy Hospi- 
tal in Monrovia. 

.Mr. Doe's government said 
Wednesday that 15 persons — 10 
.. . rebels and five government soldiers 

«•—- had been killed. .Most of Tues- 
T-.'P.SiJl 'day’s fighting wu near the execu- 
tive mansion, which was rqxnted 
severely damaged. 

Government radio told Liberi- 
ans on Wednesday morning to re- 
turn to work, bm reports from 
Monrovia said that nearly all stores 
remained dosed throughout the 






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At a press conference Wednes- 
day in Monrovia, die army chief of 
(Cbatinuef) pa Page 5, 'CoL. 7) 



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Magnum 


A dosed steel (dent in Middlesbrough in northern England. 

For U.K., Signs of Hope in Economy 

Businesses Burgeon as Polls Show Britons Losing Patience With Thatcher 


By Bamaby J. Feder. 

. New York Times Service 

The author recently completed a three-year 
assignment as a correspondent in the London 
bureau of The New York Times. 

LONDON — Polls show Britons losing 
patience with ' Prime Minister Margaret 
Thatcher’s economic policies, and there is a 
widespread belief that the prospects are 
- bleak.’ 

Britain's industrial imports exceeded ex- 
ports' last year for the first time since the 
nation gave birth, to the Industrial Revolu- 
tion. : 

- The underlying trend of unemployment is 
near post- World War II records and general- 
ly rising- Manufacturing costs are increasing 
faster than in other major industrial cotm- 
' tries. North Sea oil output is peaking. 

Amid all this; however, there have been 
. some less noted developments that could lead 
to a brighter, future. Most important, per- 
, haps, has-been a revival of interest in' eco- 
nomic self-help, reflected in a booming ven- 
ture-capital market and .the creation of new 
businesses al a record- rate. 


“Before 1979, even with Conservative gov- 
ernments, we had got ourselves into a semi- 
coUectivist frame of mind,” said Sir Terence 
Beckett, director general of the Confedera- 
tion of British Industry, the country’s largest 
business trade group. 

Such thinking built dm welfare slate, which 
most Britons stnl strongly support. However, 
many worried Britons assert that such think- 
ing also led to the disruptive nationalization 

British industrial production rose 15 per- 
cent in September. Page 1L 

of major industries, excessive power for trade 
unions that have pursued short-sighted poli- 
cies and various financial and social inhibi- 
tions that have stifled entrepreneurial activi- 
ty- 

Since Mrs. Thatcher came to power in May 
1979. Britain has probably undergone more 
soul-searching than any other major industri- 
al .nation about whar makes a free-enierprise 
economy tifck. and these major changes have 
been introduced; 

• Several large enterprises, most notably 
British Telecommunications PLC. have been 


denationalized through “privatization," with 
the sale of shares to private investors. 

• New labor laws have given both manage- 
ment and individual workers more leverage 
over union leaders, who are typically more 
nriliiant than most of their members. The grip 
of the most militant unions has also been 
weakened by outlawing picketing at sites not 
directly involved in disputes. 

• Changes in tax laws have encouraged the 
venture-capital boom and have improved 
both the prospects and the status of entrepre- 
neurs. 

Many Britons are not entirely comfortable 
with Mrs. Thatcher's insistence that an en- 
larged private sector is the answer to the 
country's problems. The statistics cited by the 
government in arguing for a rosy view* of 
industry — productivity, investment and 
profits are all growing — are at odds with the 
familiar sight of empty factories in many 
British cties. 

Nor is it reassuring to Britons to know that 
the state-owned British Sled Corp- despite 
(Combined on Page li, CoL 1) 



Peres 

Move Is Likely to Cause 
Israeli Coalition to Fall 


By 'William Claiborne 

Washington Post Service 

JERUSALEM — Prime Minis- 
ter Shimon Peres dismissed Trade 
Minister Ariel Sharon on Wednes- 
day night in a move that was ex- 
pected to bring down the 14-month 
national unity government. 

Mr. Sharon had bitterly attacked 
Mr. Peres's initiative for direct 
peace talk* with Jordan. 

Earlier Wednesday. Mr. Sharon 
had given Mr. Peres a letter of 
apology for his public remarks 
against the prime minister, profess- 
ing no intention to “directly insult” 
the prime minister. 

Mr. Peres rq'ected the apology 
and insisted that Mr. Sharon re- 
sign. 

~Mr. Sharon, the defense minister 
in the government of Prime Minis- 
ter Menachem Begin, was the ar- 
chitect of the 1 9S2 invasion of Leb- 
anon. 

The rightist Likud faction was 
expected to meet Thursday to de- 
cide whether to leave the coalition. 

The Labor alignment headed by 
Mr. Peres was seeking Wednesday 
night to assemble a narrower coali- 
tion to replace the current govern- 
ment, possibly with the assistance 
of small religious parties and leftist 
factions that have been supportive 
of Mr. Peres’s foreign policy. 

Before Mr. Sharon submitted his 
apology, sources close to Mr. Peres 
said that if the Likud resigned, the 
prime minister was prepared to 
continue in the leadership with a 
narrow-based coalition of Labor 
and several small parties. 

Without the Likud's 41 seats in 
Israel's 120-seai parliament, the 
Knesset, the Labor alignment and 
the remaining coalition partners 
would have had 56 seats, five short 
of the simple majority needed to 
withstand a no-confidence vote. 

Under this calculation, Mr. Peres 
would require the support of the 
religious parties. 

Coupled with the support — or 
abstentions — by the three Knesset 
members of the Citizens’. Rights 
Party and the six members of the 
leftist United Workers' Party. Mr. 
Peres might continue in power with 

(Continued on Page 5, CoL 1) 



Ariel Sharon 


Shimon Peres 


U.S. Tells Soviet Union 
It Is Willing to Extend 
Adherence to SALT-2 




FOR HO? 

CttSS&S 


Rebels and Residents Await Air Raids 



-Z-J 3320 

••1 • 


v- 


By. Robert J. McCartney 

\Vashutpen Poet Sendee .. .’. 

EL 2AP0TE, H Salvador — 
te their apparent optimism 
deter minat ion, El Salvador’s 
revolutionaries are under siege 

Jet bombers, helicopters and 
welk armed infantry units regularly 
attack this “zone of control” and 
the rebels’ four other base areas in 
the densely forested mountains 
here. 

As in other rebel strongholds, 
electricity has been lacking for 
years. The civD war has reduced 
most of the isolated, mud brick 
houses in the area to overgrown 
ruins finked by narrow trails. 


Most veteran guerrillas itid their 
peasant supporters seem ready to 
fight indefinitely, but they do not 
appear to be attracting many new 
recruits. A large majority of mili- 

Behind Rebel lines 
Under Siege in El Salvador 

First of two articles. 

touts interviewed during a nine-day 
trip behind guerrilla , lines joined 
the" left during its upsurge in the 
1970s and early 1980s. 

The Salvadoran Army’s elite Bd- 
1050 Battalion, advancing from the 


west, already has begun the eighth 
government sweep through these 
mountains this year. 

Government helicopters and re- 
connaissance planes make observa- 
tion flights in the morning, and 
rebel sentries are posted to shout 
for the lanterns to be extinguished 
if any aircraft approached. Heli- 
copters rocketed and strafed the 
nearby hamlet of Jocotio four days 
earlier, according to two residents 
of that village. 

Troops, particularly the feared 
AUacati Battalion, bum crops, 
household goods and homes during 
attacks almost every month, ac- 
cording to dozens of residents here 





in the northern province of Chala- 
tenango. 

In violation of government rales 
against attacks on civilian targets, 
military aircraft periodically bomb, 
rocket or strafe villages even when 
no aimed guerrillas are around, the 
residents said. 

The second-ranking guerrilla 
leader here, known as Dimas Ro- 
driguez, led a successful assault on 
the nation’s largest dam and hydro- 
electric plant in June 1984. Leone! 
GonzAlez, a former elementary 
school teacher and union organiz- 
er, is the zone’s top commander. 

Rebel officials and residents ac- 
knowledged that the Salvadoran 
aimed forces’ behavior had im- 
proved this year, noting that troops 
bad not conducted a large-scale 
massacre in the area since 40 civil- 
ians were stalked and killed 14 
months ago along the Gualsinga 
River. 

In a subsequent interview in Son 
Salvador, the armed forces spokes- 
man, Lieutenant Colonel Carlos 
Aviles, said that the military did 
not taigct civilians in inhabited 
zones, but he added that eastern 
Chaiateaango was “depopulated” 
and that the rales in such areas 
were “not exact.” 

It appears that the armed forces 
consider (he area to be empty of 
civilians because the rebels’ peas- 

(Continoed on Page 3, CoL l) 



Tfw Wttftagnn Pod 


Juan Rivera and his wife crouch in a crude shelter where 
they hide during bombing raids by the Salvadoran military. 


By Lou Cannon 
and Don Oberdorfcr 

Waihiitgion Pan Service 

WASHINGTON — The United 
Stales informed the Soviet authori- 
ties last week that it was willing to 
extend its policy of “not undercut- 
ting'* the 1979 SALT-2 accord, 
opening the way to a formal agree- 
ment along these lines at the sum- 
mit meeting in Geneva next week. 
White House officials say. 

The officials also said that Secre- 
tary of State George P- Shultz, 
while in Moscow, discussed a pro 

As the summit meeting ap- 
proaches,, the hopes of Soviet 
dissidents revive- Page Z 

posal for a 35-year program of co- 
operative U.S.-Soviet research on 
nuclear fusion for civilian pur- 
poses. another area of possible 
agreement at the summit meeting. 

The Russians are believed to 
have an advanced program of fu- 
sion research, leading the world in 
some aspects, according to U.S. sci- 
entists. 

The proposed cooperative pro- 
gram, eventually costing up to 53.5 
billion in contributions From both 
countries, would involve construc- 
tion of expensive facilities, admin- 
istration sources said. 

The Reagan administration de- 
cided in June to dismantle on older 
Poseidon submarine to stay within 
the SALT-2 treaty limits for nucle- 
ar weapons when a Trident subma- 
rine comes into service this fall. 

The decision, initially opposed 
by the Defense Department, repre- 
sented a further embrace by the 
Reagan administration of a treaty 
that the president called “fatally 
flawed" during the 1980 presiden- 
tial campaign. 

In June. President Ronald 
placed two conditions on continu- 
ing not to undercut SALT-2: that 
the Soviet Union “exercise compa- 
rable restraint” and that it “active- 
ly” pursue arms- reduction agree- 
ments in the Geneva negotiations. 

These two conditions were re- 
peated by Mr. Shultz last week in 
presenting the U.S, posture io the 
Soviet authorities in Moscow, offi- 
cials said. 

In recent months U.S. and Soviet 
officials are reported to have dis- 
cussed the fate of SALT-2 on sever- 
al occasions, including the New 
York visit in October of the Soviet 


-*r.> 


Reagan, Democrats Clash on Arms, Cutting Deficit 


teuton 




FRIENDLY RIVALS — Salvador H. Laurel, left, was greeted at Manila airport 
Wednesday by Corazon Aquino. The two opposition figures then began bargaining over 
a joint opposition ticket in the election campaign against Ferdinand Marcos. Page 2. 


-a*v - 








■ Ezra Taft Benson, the new president of the 
Mormon church, fulfilled the promise of a “Most 
Likely to Succeed” graduate of 1927. P^e S. 

■ A Mexican publisher has won the bidding war to r 

buy United Press International - . Page 3. 

SCIENCE' • •• 

■ Jupiter's GreatRed Spot is yielding its mystery. ■ 

io a new scientific approach. Paged 


BUSINESS/FINANCE 

■ Volkswagen AG reported a sharp increase in its 
. third-quarter earnings. Page 9. 

m CBS Inc. reported a third-quarter net loss of 
5114,1 million, compared with a profit of $48.S 
million s year earlier. Page 9. 

' |--The tla trading sus pensio n OA the Loudon Met- 
.alsExchange reportedly was extended. 


By Gerald M. Boyd 

New York Ttmes Service 

WASHINGTON — President 
Ronald Reagan and Democrats in 
(he House of Representatives have 
dashed over whether a choice must, 
be mode between building military 
strength and eliminating the feder- 
al deficit. 

“You can’t have both," Repre- 
sentative Les Asp in. a Wisconsin 
Democrat who is chairman of (he 
House Aimed Services Committee, 
told Mr. Reagan at a meeting Tues- 
day at the- White House. “You can 
have the buildup or you can have 
the deficit reduction.” 

But Mr. Reagan, described by 
one official as “visibly angry" and 
by several as “firm" and “intense," 
insisted that Congress could 
achieve both. 

The exchange came as White 
House officials said Mr. Reagan 
would not hold an 1 1 ib-hour meet- 
.ina with Speaker Thomas P. 
O'Neill Jth Democrat of Massa- 
chusetts, and Robert J. Dole, the 
Senate majority leader and Kansas 


Republican, about a compromise 
on legislation on the debt ceiling. 

The government's authority to 
borrow money and pay bills is' due 
to expire Thursday at midnight. 

With government officials warn- 
ing that actual default on govern- 
ment checks was more tikdy this 
lime than in two previous episodes, 
the House moved Tuesday to meet 

the deadline with a bipartisan bill 
to allow the government to keep 
borrowing money for another 
mouth. 

Representatives from both par- 

ties agreed that Mr. Reagan should 
not have the prospect of govern- 
ment default hanging over hts head 
when he goes to next week's meet- 
ing with Mikhail S. Gorbachev, the 
Soviet leader, in Geneva. 

“We're leaning over backwards 
to help him." said Mr. O'Neill. 
The fight will be waged when he 
comes back” 

The bill's fate in the Senate is 

uncertain, however, since its lead- 
ers have used the default deadline 
in an effort to force approval of a 
measure to balance the budgeL 


Congress has been deadlocked 
for weeks over a longer-term in- 
crease in the deficit in a struggle 
over a proposal to require a bal- 
anced budget by early next decade. 
The two issues became entwined 
when the Senare attached a plan to 
balance the federal budget to a bill 
to raise the debt ceiling enough to 
cover federal borrowing needs fora 
year. 

While House officials said Mr. 
Reagan would not seek to separate 
the debt-ceiling provision from the 

companion language requiring a 
balanced federal budget by the end 
of the decade. Mr. Reagan has in- 
sisted that Congress approve such a 
proposal. 

According to the White House 
officials, Mr. Reagan said at the 
White House meeting that if the 
administration and Congress did 

their jobs by submitting and ap- 
proving a budget that reached tar- 
gets called for under the balanced 
budget proposal, there would be no 
need to cut military spending. 

Mr. Reagan is seeking (o prevent 
Congress from cutting military 


spending below targe is ihai allow 
an increase only io cover inflation 
in 1986 and ihen increases of 3 
percent above inflation in 1987 and 
1988. 

He disputed ihe assertion by 
some in Congress that be would be 
forced to reduce military spending 
below this formula because ihe bal- 
anced budget proposal would re- 
quire him to make automatic 
spending cuts to reach mandated 
deficit ceilings each year. 

But Robert C. Byrd. Democrat 
of West Virginia and the Senate 
minority leader, said that he had 
told Mr. Reagan that he was "in for 
a big surprise" on what the legisla- 
tion would mean for his military 
buildup. 

Another Democratic partici- 
pant Jim Wright of Texas, the 
House majority leader, said after 

the meeting that Mr. Reagan did 
not seem to understand "that there 
wasn’t any version" of the deficit- 
reduction proposal that exempted 
military spending from cuts 

He said that if the president had 

(Continued on Page 5. CoL 1) 


foreign minister. Eduard A. She- 
vardnadze. 

The Russians are reported to 
have proposed a joint statement, in 
terms different from those used in 
Washington, calling for continued 
adherence to the treaty. 

Officials said there had been no 
clear-cui Soviet response io Mr. 
Shultz's statements on SALT-2 Iasi 
week. Thus it remains an unre- 
solved issue to be explored by Mr. 
Reagan and Mikhail S. Gorbachev 
next week io Geneva. 

President Reagan, in an inter- 
view Tuesday with European" 
broadcasters, once again modified 
his description of his Strategic De- 
fense Initiative, telling them the 
United States should develop a 

(Continued on Page 5, CoL 5) 


U.S., Europe 
Plan Comet 
Landing 

By Thomas O’Toole 

H 'ashingion Pm Sen ice 

WASHINGTON — The Na- 
tional Aeronautics and Space Ad- 
ministration and the European 
Space Agency have begun planning 
one of the most ambitious space 
missions yet tried: landing a probe 
on a comet to bring a sample of the 
surface back to Earth. 

The mission, a brainchild of the 
Europeans, would not take place 
until 1998 or 2000 and would cost 
52 billion, a record for an un- 
manned spaceflighL and the reason 
the two agencies have joined forces. 

The costs, distances and technol- 
ogy involved would make it one of 
the boldest space efforts yet under- 
taken, scientists say. 

Both sides agreed at the first 
joint planning session in Septem- 
ber that the Europeans would plan 
the scientific aspects and the Amer- 
icans would provide ihe necessary 
spacecraft and “celestial mechan- 
ics." This L< the maneuvering re- 
quired io fly the craft in formation 
with the comet. 

Among the difficulties involved, 
mission planners must know exact- 
ly when and where io imercepl the 
comet, and the spacecraft must be 
able to match the comet's speed as 
they both fly toward the sun. 

The Europeans conceived the 
project a year ago. a NASA source 
said, bui quickly realized dm “they 
couldn't do iL alone." 

The mission will be carried out 
on an “inactive" comet, or one that 
has suyed far enough away from 
the sun to have retained much of its 
pristine outer cover, which car. be 
degraded by light and heaL 

Most suitable inactive comets 
never travel closer than 100 million 
to 200 million miles ( 162 million to 
324 million kilometers) from die 
sun, or outside the orbit of Mars. 

“IF the mission were just a ren- 
dezvous,” Ihe NASA source said, 
“you'd want to go to a comet that’s 
very active because you warn to 
find out what it does when it gets 
active. 

"But for a sample-return mis- 
sion. you want the mO>l pristine 
material you can possibly get. be- 
cause presumably we’re talktng 
about the earliest remnants of the 
solar system's origin that man can 
possibly gel." 

The first mission to a comet took 
place in September, when the Inter- 
national Comeiary Explorer, a U.S. 
croft, flew through the tail of G'u- 
cobini-Ztnner. an active comet. 44 
million miles from Earth. 








Page 2 


INTERNATIONAL HERALD TRIBUNE. THURSDAY. NOVEMBER U, 1985 


laurel and Aquino Start Bargaining Over Anti-Marcos Ticket WORLD BRI EFS 


By Seth Mydans 

Vw York Times Service 

MANILA — Tbe two leading figures in the Philip* 
pine moderate opposition kissed in public Wednes- 
day. then met privately to begin hard bargaining, over 
which one or them would lead an election bat Lie 
against President Ferdinand E Marcos. 

With their supporters tightening ranks behind the 
two leaders, there were indications that an agreement 
would not come easily. The election is expected to take 
place in Januaiy. 

One ot the contenders, Salvador H. Laurel a former 
senator, returned Wednesday from a lecture tour of 
the l 1 oiled States. He was met aL the airport by his 
chief rival in the opposition. Corazon Aquino. 

Mrs. Aquino is the widow of Benigno S. Aquino Jr.. 
the popular opposition leader who was murdered in 
August 1983. 

At rally for his supporters. Mr. Laurel warned that 
Mr. Marcos would be fighting for his political life. 

“This is not an ordinary election.*' he said. ■‘This is 
not a fair, dean election. This is an election where 
everything will have to be risked — life, liberty and 
even honor." 

Later, in an interview, Mr. Laurel described his 
extensive preparations for a campaign be has been 
anticipating for years. 

*Tve been all over the country." he said. “I don't 
have to campaign that much. We're in touch with the 
grass roots. All we have to do is make sure the ballots 
are counted correctly. Eighty percent of our efforts 
will be directed at this." 

He ended the interview abruptly, saying with a 
smile. "I have to go meet someone." He then returned 
to his study to get his glasses, saying: “Cory may want 
me to read something." 

Mrs. Aquino said later in the evening that Mr. 
Laurel had met with her in her bouse but that the two 


US. Official Warns Marcos That Elections Must he Fair 


Washington Post Sen-ice 

WASHINGTON — The Reagan administration 
and a congressional subcommittee have warned 
President Ferdinand E Marcos of the Philippines 
that unless the forthcoming presidential election 
there is visibly Tree and fair." he risks losing all 
support at home and in the United States. 

Appearing before a House Foreign Affairs sub- 
committee. Paul D. Wolfowitz. assistant secretary 
of State for East Asian and Pacific affairs, predict- 
ed Tuesday that a fraudulent election would result 


in "a complete collapse of confidence” in the 
Marcos government and a “disaster of. large and 
indefinable proportions" for its relations with 
Washington. 

Mr. Wotfowitz indicated that the Reagan ad- 
ministration would support a resolution, approved 
unanimously Tuesday by the Asian and Pacific 
Affairs subcommittee, saying that Congress in- 
tends to lake into account “the degree to winch 
democratic reforms are taking place” in consider- 
ing future aid. 


Paper Says Ulster Pact Concluded 

in British-mled Northern Ireland. 


This is not going to be a normal election,” said 
Rene Espin, a former senator. "This is not going to be 

a picnic in ihe park." , ... 

Mr Marcos’s own political machine, meanwhile. 

appeared to be faltering Wednesday as * Hnnsn-nueo ^ .. . „ 

Jgs ssTitsstsssXSsSi: 

ss=aeau«-iis— «•■— » 
■KsspassasssK ^jssrasssiessasss 



1 


had arisen over the question a S^fentu^'orth^reementwouid be thesetting.pp<rf s 


vice-presidential randidnte in the balloting, as Mi. Wisteria! bo^ritbapermanesK secretariat based Q 

Marcos has said he would do. f 

One source said that supporters of the president s ueuast. 


leaders, in their first discussion, had avoided the 
central question of who would head a presidential 
ticket. 

“He asked me what had happened in the two weeks 
since he has been away, and i told him.” she said, 
adding that they agreed' to talk again. 

Mrs. Aquino said that she had not yet decided 
whether to ran for the presidency and was waiting, as 
she has before, for a petition drive to gather a million 
signatures in her support. 

The two candidates display opposite styles and 
bring contrasting aspirations and sometimes antago- 
nistic supporters to the campaign. 

Mr. Laurel, a former ally of Mr. Marcos, is a 
politician in the president's own mold. He is profes- 
sional, well organized and ambitious, and he has put in 
place a nationwide network of supporters who await 
the signal to go into action. 

Mrs. Aquino, who says she never aspired to politics, 
seems to be a genuinely reluctant candidate, a symbol 
who fills a vacuum created by the assassination of her 
husband. 


Her reluctance has helped aystalize a following that 
includes people who are disillusioned with politics. 
Some of these people say they are giving the electoral 
process a final chance. 

Some of Mr. Laurel's confidants said Wednesday 
that they believed he had no intention of stepping 
away from the leading position he had worked years to 
obtain. Many erf Mrs. Aquino’s supporters, mean- 
while, have said they would not work for a ticket 
headed by Mr. Laurel. 

Speaking of these people, Mr. Laurel's nephew, Jose 
Laurel, who is governor of Baiangas province, said 
Wednesday: “Emotions and sentimentality do not win 
elections. Organization does.” 

“They have the jockey,” he said of Mrs. Aquino's 
backers. “We have the jockey and the horse” 

He said be did not believe that Mr. Laurel's organi- 
zation would work wholeheartedly for a ticket headed 
by Mrs. Aquino. 

Several backers of Mr. Laurel said they donbted 
that Mrs. Aquino would be tough enough for the 
battle. 


wife, lmdda, were opposing the election of a vice - « n 

president, feeting that a vice president might dDuie her |AwjojK SyriR EllCl K6COHCIIMU0H IRIKS 

power as the surrogate for her husband. " ” J 


Political analysts also said they thought Mr. Marcos 
might worry that a vice president could become a 
competing center of power. He might also fear defec- 
tions from his party of loyalists who fell they had been 
passed over for the job, the analysts said. 

There was some discussion Wednesda y about the 
possibility of naming a loyal and politically weak man 
as Mr. Marcos’s running mate to minimize the politi- 
cal damage within his party. 

At his rally Wednesday. Mr. Laurel said that if he 
were to win an election as president, he would give Mr. 
Marcos the benefit of due preess in answering for any 
crimes of which be might be accused. 

“We will give Mr. Marcos what he has not given the 
Filipino people — justice and due process." he said. 

Mr. Laurel also said he favored allowing the United 
States to keep its bases in the Philippines until the 
expiration of the current agreement in 1991- At that 
point, he said, a new agreement should be negotiated 
and then presented to the people for consideration. 



- 




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By a Strike 


Reuters 

BEIRUT — The Christian quar- 
ter of East Beirut was largely para- 
lyzed Wednesday by a strike called 
to protest a bomb attack on Chris- 
tian leaders opposed to a Syrian- 
- sponsored plan to end the Leba- 
nese civil war. 

Schools, banks and businesses in 
the Christian sector closed, but 
bakeries and drug stores remained 
open. Moslem-controlled West 
Beirut carried on as normal. 

The strike was called by the Pha- 
lange Pony: its leader, Elie Kora- 
nic h. was injured in the blast Tues- 
day at a monastery where five 
members of the rightist Lebanese 
Front coalition were holding their 
weekly meeting. 

The explosion killed four per- 
sons and wounded 23. Responsibil- 
ity for the attack was claimed by an 
anonymous telephone caller on be- 
half of two previously unknown 
Christian groups. 

An aide to the head of the 
Church of England, meanwhile, 
left London for Beirut on Wednes- 
day to try to win freedom for four 
American hostages m Lebanon. 

Terry Waite, a lay assistant to 
the archbishop of Canterbury. 
Robert Rvmcie. decided to come to 
Beirut after a telephone call from 
an intermediary for the Islamic Ji- 
had organization, which said it was 
holding Lhe Americans. 

In February, Mr. Waite persuad- 
ed the Libyan leader. Colonel 
Moamer Qadhafi, to free four Brit- 
ons held in Tripoli. 

.Archbishop Runcie received a 
letter last week from the four 
.American hostages asking for his 
help in obtaining their release. 



Soviet Dissidents’ Hopes Revive 
In Anticipation of Geneva Summit 

By Serge 

New York 


Zaid al-Rifai 


AMMAN, Jordan (UPI) q 
Prime Minister Zaid al-Rifai jy 
turned home on Wednesday foal 
two days of recoociKaticat talks id 

Damascus with Syrian teukK. | 

Syrian and Jordanian official 
described the talks as “useful antf 
co nstru ctive” and a joint communi- 
que emphasized the points of 
agreement without mentioning ex- 
isting policy differences between 
the two countries. 

. The communique, issued, rinai- 
taneocsly in Damascus and Am-, 
man, said the Palestinian question) 
as the “central issue for all Arabs,] 
should “not be settled through sep 
ante agreements or di re ct talks,’, 
but required the participation of 
members of the Untied Nations Sd 
cority Cooncfl, “particularly thl 
United States and the Sovitj 
Union.” 1 


in.-.wrli 


- IK.*** 


China Clears 87 Accused as Spies 


The Aimaied IVw 

Terry Waite, an aide to the archbishop of Canterbury. 


First Trial of Achille Lauro Hijackers 
On Arms Charges Set to Start Monday 


Compiled fn Our Start f>’"/ Dnpard i»i 

GENOA — The four hijackers 
of the cruise ship Achille Lauro and 
an alleged accomplice are to stand 
trial Monday on charges of illegal 
possession of arms and explosives, 
a prosecutor said Wednesday. 

The official said the five men 
would face murder and kidnapping 
charges at a second trial Leon 
Kiinghorfer. an American passen- 
ger. was shot to death and thrown 
overboard during the hijacking last 
month. 

Separating of charges is fairly 
common in complicated cases in- 
volving terrorist-related crimes. 

The prosecutors' office identi- 
fied the accused hijackers as: Yous- 
sef Magied al-Molqi. 23. botn in 


Giabai al-Tagj, Jordan; Ahmad 
Morrouf al-Assadi. 23, born in Da- 
mascus; Ibrahim Fatayer Abdela- 
tif. 20. bom in Beirut: and Bassara 
al-Ashker. 19. bora in Tripoli, Leb- 
anon. 

The fifth man was identified as 
Mohammed Kalaf, a Syrian who 
was arrested with false passports in 
Genoa before the Achille Lauro 
departed on its Mediterranean 
cruise on Oct. 3. 

Meanwhile, in New York, two 
women, Sophie Chasser. 70. and 
Anna Schneider. 73, who were held 
hostage on the ship, sued the cruise 
line and four tour companies for 
$400 million, contending that the 
hijacking has caused them severe 
psychological injuries. (AP. UPI ) 


Chess Rematch Planned Early in ’86 


Schmemann 

fork Times Service 

MOSCOW — Hovering over 
preparations for the Soviet- Ameri- 
can summit meeting is the plight of 
thousands of people who have 
clashed with the government or 
simply want to leave the Soviet 
Union. 

This human rights issue is one 
that Mikhail S. Gorbachev, the So- 
viet leader, has confronted in Lon- 
don. in Paris and in his meetings 
here with Western officials, and 
President Ronald Reagan has said 
he will raise it in the Geneva sum- 
mit meeting next week. 

For the dissidents, divided 
spouses, relatives of political pris- 
oners. religious sectarians, nation- 
alists and others who have come - 
into conflict with the Soviet au- 
thorities, fading hopes and yellow- 
ing appeals are being revived. 

Ida Milgrom, mother of Anatoli 
B. Shcharansky, wrote an open let- 
ter appealing for the release of her 
son, who has been in prisons and 
labor camps now for almost nine 
years on a conviction for treason. 
In another open letter, Isaak Shalo- 
nsashvili, a Georgian Jew, asked for 
help for his family to emigrate. 

The appeals mount as the sum- 
mit meeting draws near. 

Naum Meiman, a Jew who has 
been barred from emigration, has 
asked again that his wife be al- 
lowed to go abroad for cancer 
treatment; Vladimir Pimonov. a 
chess journalist, wants to join his 
wife and daughter in Denmark; 
Eduard Gudava, a Georgian, asked 
Mr. Reagan “to do whatever seems 
appropriate" to ensure the release 
of his brother, Chinghis, from pris- 
on and the emigration of their fam- 
ily; a group of Americans separat- 
ed from their Soviet spouses have 
asked that their cases once a g ai n be 
raised. 



chev said that the human rights 
issue was being “artificially played 
up by Western propaganda and" ex- 
ploited to poison relations among 
peoples and countries.” 

On the question of Soviet Jews, 
he said, “I would be glad to hear of 
Jews enjoying anywhere such polit- 
ical and other rights as they have in 
our country." 

While Mrs. Bonner has been giv- 
en permission to travel the plights 
of activists has not changed. Yuri 
F. Orlov, founder of a group to 
monitor Soviet compliance with 
the Helsinki rights provisions, is 
still serving a five-year period of 
exile in Siberia. 


Mr. Shcharansky. according to 
his mother, has been kept in the 
prison of his labor camp for more 


than six months, fndnriing two and 
ishmentceU. 


a half in a punishment 

The Soviet response to the antici- 
pated revival of the rights issue is 
characteristically to turn the 
charges against the United States. 

Television and the press have 
been publicizing the plight of the 
homeless and ihe unemployed in 
the United States, as well as sur- 
veillance and harassment by the 
Federal Bureau of Investigation 
and the purported existence of la- 
bor comps for dissidents. 


BEUING (UPI) — The Communist Party has cleared 87 
wrongly branded as spies more than 30 years ago and has relabeled f 
“loyal Communists,” the China Daily newspaper reported Wednesday 
The accused spies, who had been believed to have been working fol 
Chiang Kai-shek in the Sichuan province, actually were imdercovd 
agents for the Red Army during Gtina’s civil war in the 1940s, thj 
newspaper said. 

Bui according to the paper, the lone liaison person for tbe 
network was killed while attempting to pass on information to 
Co mmunists on the eve of their 1949 takeover, and the other agents couti 
not prove their Red Army links. They were cleared after a two-yeti 
inquest, the China Daily said. 1 





Singapore Cites Journal for Contempt 

SINGAPORE (THT) — Attorney General -Tan Boon Tel has fil 


contempt of court charges against the owner, editor, printer, . 

Wall Street Jo 



and Singapore-based correspondent of The Asm 
because of an Qcl 17 editorial that commented on the trial and conv 
tion of an opposition politician. 

The politician. Joshua B. Jeyaretnam, was found guilty of making 
false declaration about his Workers Party accounts in 1983. He was fur 
and sentenced to three months in prison, but is appealing the con vk lie 
The District Court ruling reversed an earlier decision by a magistrate 

In its editorial, tbe Journal alleged that Mr. Jeyaretnam had “suffer 
what many Singaporeans believe is official harassment," and that the 
was widespread belief that the government was trying to wipe out t 
opposition leader and his party. In fiEng contexnpt charges, the attorn 
gpzieral asserted that the editorial questioned the integrity and impartial 
icy of Singapore's judicial system. . .1 


French Seize Suspected Drug Traders 


PARIS (NYT) — French poKce arrested several dozen suspect* 
international drug traffickersin a pre*dawnraid Wednesday that offida 
said promised to knock out a major ring supplying heroin to the Urdu 
States. ■■■>■■■ 

Tbe.raids followed nearly a year of dose surveillance of suspected dn 
traffickers by European and American drag enforcement agencies, wl 
found activities similar to those of the so-caBcd “French connection,” ! 
which largely French drug traders in the late 1960s and early 197) 
supplied heroin to the United States from Marseille. \ 


■ *** 

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'vpje^iB&hs 

• i 

■ 

-ism 


Soviet Paper Says Sailor Fell Off Shij 


Prince Charles playing polo. 


HwAnodaMiiftwt 


Compiled to Our Staff From Dispatches 


Novosti 


BELGRADE — Florence© Cam- 
pom ones, president of the Interna- 
tional Chess Federation, has said 
that a rematch between the new 
world champion, Gary Kasparov, 
and the former tide bolder, Anatoli 
Karpov, will begin early next year. 


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the Belgrade newspaper 
reported Wednesday. 

However, Mr. Karpov was 
quoted as saying in Moscow that he 
has not yet decided whether to ex- 
ercise his option for a rematch, and 
Mr. Kasparov complained that 
there should be a longer period 
before the new match. 

Mr. Campomaoes said the re- 
match was scheduled for a period 
belweea Feb. 10 and April 21 and 
that a message was sent, to potential 
organizers of the match, according 
to the newspaper. 

Mr. Kasparov defeated Mr. Kar- 
pov in a 24-game contest in Mos- 
cow that ended Saturday, but Mr. 
Karpov may have a rematch within 
three months under a decision by 
the federation. 

The new champion has said he 
opposes the decision because the 
two players have already played 72 
championship games, including 48 
in a first title round that was halted 
by Mr. Campomanes in February. 


“The rules matter must be dis- 
cussed between grandmasters,” 
Mr. Kasparov said Monday night. 
"We need a union of grandmasters 
from East and Wcsl" 

“It is impossible for one man to 
solve all these problems.” said Lhe 
22-year-old champion. “I am now 
the chess king, but I want democra- 
cy." 

Mr. Kasparov again criticized 
Mr. Campomanes, a Filipino, for 
annulling the marathon first match 
against Mr. Karpov last February. 

“I hare reached the dream of my 
chess life; I hare beaten Karpov 
and become world champion,” Mr. 
Kasparov said. “But tbe chess 
world needs new, good rules and 
must begin steps against Campo- 
manes." 

Mr. Kasparov called for an end 
to the rematch provision and said 
champions should have to defend 
their title every three years, instead 
of every two as the rules now re- 
quire. (AP, Reuters I 


The news that Yelena G. Bonner, 
wife of Andrei D. Sakharov, is be- 
ing allowed to go abroad for medi- 
cal treatment has stirred interest. 

Another activist, Irina Grivnina, 
who served a term in labor camp 
after having publicized tbe abuse of 
psychiatric treatment, has been re- 
leased. A few Jews who long waited 
for visas have been allowed to emi- 
grate; they include Alexander Bru- 
silovsky, a violinist; Dmitri Go- 
lenko, a scientist, and Mark 
Nashpits, a dentist who had been 
waiting 25 years for permission. 

Yet overall emigration figures re- 
main low. Jewish sources note that 
there often has been a slight swell 
in emigration just before a major 
international event. In July, just 
before the 10th anniversary' confer- 
ence of the Helsinki accords, 174 
Jews were permitted to leave. In 
August the figure dropped to 29. 

Western diplomats note that the 
ascendancy of Mr. Gorbachev has 
not been marked by hberalizarioa 
of human rights policies. 

In an interview with French tele- 
vision. for example, Mr. Gorba- 


Polo , Party Keep Prince 
Busy as U.S, Visit Ends 


MOSCOW (NYT) — A Soviet newspaper Wednesday gave its erti 
version of the incident involving a Soviet seaman who was fordid 
returned to his ship at New Orleans, darning that Miroslav Medvi 
simply fdl off his freighter and became “disoriented" J 

The account in Trad was the first Soviet press notice of the case. It vi§ 
published once Mr. Medvid and bis ship, the Marshal Konev, were 3 
their way back to the Soviet Union, J 

According to U.S. reports, the incident began Oct 24 when K* 
Medvid, a Ukrainian, jumped overboard into the Mississippi Rive 
Within hours, border agents decided to return him to the freighter despv] 
his resistance. Once back on his ship the sailor apparently changed u 
mind State Department officials then interviewed him and conclutfcj 
that he had dedded to return to tbe Soviet Union. 


By Jon Nordheimer 

New York Times Service 

PALM BEACH, Florida — A 
glittering gala beside the silvery sea 
was the setting Tuesday night for 
the last appearance of lhe Prince 
and Princess of Wales on their 
American visit. 

The occasion was to honor the 
royal couple and benefit the Mon- 
tezuma, New Mexico, campus of 
the United World Colleges, one of 
the prince’s favorite charities. 

Hollywood stars, jewel-draped 
society matrons and Anglophiles 
from around the world attended 
the charily ball, although some 
Palm Beachers stayed away be- 
cause of discord over the ticket 
price — $5,000 each — and because 
the college was so far away. 

The setting was the twin-towered 
Breakers hovel, the 1920s Mediter- 


ranean-style sentimental center 
piece of Palm Beach society. 

Prince Charles, looking slightly 
fatigued after a vigorous polo 
match Tuesday afternoon, arrived 
with the princess in a black and 
beige Rolls-Royce. He was in black 
tie, she in a deep-pink velvet 
sheath. 


■j 

Yurchenko Hope to Live in U.S. CiteS 



WASHINGTON (NYT) — Vitaly S. Yurchenko, race portray 
the United Stales as a valuable Soviet defector, had hoped to 
anonymously with a woman on the West Coast of the United States i 
he had been thoroughly questioned by the CIA, according to a senior I 
intelligence official. 

The official said Tuesday lhat officers of the Federal 
Investigation who participated in the CIA interrogations of MrJ 
chenko repeatedly showed him newspaper clippings describing his i 


The ball, sponsored by Armahd ** on - *17iat is when “be began thinking maybe he'd made a big 

km ma v fliM lhe oFfl/Mfll CAl/J “Hp woe i/#nr itonr rmrat ** 


Hammer, the petroleum magnate official said. “He was very, very upset/ 


and an patron, was 

raise S4 million. Prince Charles is a F or tllP Rppnrfl 
director of the colleges, which pro- W UiCRCWm 
vide education at six international Air traffic controllers in Madrid and the Canary TOnnrk began 
campuses in an effort to promote day strike early Wednesday that was expected to cause the si 

k~,.i — J; J 100 national and international flights, airline officials said. 

Erich Hooecker hdd talks in East Berlin on Wednesday with 
Ufontaine. the leftist premier of the state of Saarland, pr 
dplomatic speculation that the East German leader's 1 
to Bonn might take place next month. (i 


international understanding 
lessen global tensions. 

Earlier in tbe day. about 12,000 
people watched tire prince's polo 
team put down a team of all-stars. 
11-9. 


Arthur Rothstein, Photographer and Editor, Dies 


New York Tunes Service 
NEW YORK — Arthur Rolh- 
stein. 70, a photographer and edi- 
tor whose pictures of the Dust 
Bowl during the Depression are 
considered among the classic pho- 
tographs of the 1930s, died of can- 


cer Monday in New Rochelle, New 
York. 


As a photographer for the U.S. 
Army during World War IT and as 
director of photography for Look 
magazine for a quarter century, 
Mr. Rothstein captured a broad 


published seven books displaying 
his work and explaining it. 

Mr. Rothstein is best remem- 
bered for the pictures he and a 
handful of others took for the Fed- 
eral Farm Security Administration 
between 1935 and 1940. His most 



panorama of people and events I'omous picture, “Dust Slonn, trim- 
from the destruction of war to the ¥ roa Oklahoma — 1936.” 

bent figure of a little boy trying to w walk 

lift a bucket of mud by tire sea! a ^ unsi a wmdstonn of d «*- 

Mr. Rothsiein's subjects were 
He received more than 35 awards symbols of the period: abandoned 
and prizes, served on the faculties farms, boarded-up hanirc eroded 
of several universities, wrote news- land, jalopies stacked with fumi- 
paper columns and essays, and lure and rusted farm tools on 

Chilled 

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'parched earth. The people — an 
old man reading a Bible, children 
learning their lessons, farmers at 
work — have a simple dignity. 

In 1940, Mr. Rothstein became a 
staff photographer for Look, but he 
left a short time later to become a 


While the prince's play drew a 
few biting comments from aficio- 
nados who winced at missed shots, 
the real game on this warm after- 
noon was royalty watching, and 
Charles and Diana made the match 
a crowd-pleas er from the first 
chukker, or playing period, to the 
last. 


DOONESBURY 


ANl>V€SEARBTH£ 
oWDRSds&mam, 
MR5 F5P&W? 

u aeSORKH/WFA- 
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ASWUNPmi 


Afterwards, tbe princess present- 
ed porcelain horse trophies to each 
member of her husband's team. She 
had watched the match from a box, 
not dearly visible to spectators 


photographer in the Signal Corps w ^° crrai ^ and pointed long-lens 
in Burma, India and China. 1 — j; — •=— 


After the war, he returned to 
Look, where he worked until its 
demise in 1971. He that joined Pa- 
rade magazine as associate editor, 
director of photography and, until 
his death, as a consultant 


PeHe Lindbergh, 26, 

Star Hockey Goal tender 


STRATFORD. New Jersey (AP) 
— Pdle Lindbergh, 26, the Nation- 
al Hockey League's leading goal- 

trader last season for the Philadel- 
phia Flyers, died Monday from 
injuries suffered in an automobile 
crash Sunday. 

Mr. Lindbergh, a native of 
Stockholm, played on the 1980 
Swedish Olympic hockey team. He 
won the Vganfl Trophy as the 
NHL's best goalie lost season. 


cameras in her direction. 

“r had mixed feelings about 
Muting.” said a Chicago woman 
who said she attended about one 
polo match a season. "Usually, if I 
gel bored, I can leave. Bui one 
doesn’t feel right about walking out 
cm the Prince of Wales." 

, couple arrived in near- 

by West Palm Beach in early after- 
noon after a flight from Washing- 
ton. At the airport, they moved 
eaaly among schoolchildren and 
others who bad been permitted into 
the reception area lo shout, and at 
tunes to sing, their hellos. 

Not all of Palm Beach has been 
happy about the fuss the royal visit 
has occasioned Even the unhappy 
?!*• however, expressed, saner 
thmg Uke reverence for the prince 
pnneess wh3e condemning lhe 
crowds they inevitably drew. 




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To Match F-5’s It Says 
U.S. Plans lor Honduras 


By. Stephen Kinzcr . 

AW York Tina Service ■ 


said. “If Cuba and Nicaragua 
maintirfn a. relationship in all areas. 


. the insurgents' “total defeat" by said. “If Cuba and Nicaragua 

• . early 1987. . maiixiam a relationship maQ areas, 

.■ In Washington* a State Depart- that is our decision, and Cuban and 

mentoffidal said the United States .Nicaraguan ships are going to 
, - eventually would' replace Hondo- transport whatever Cuba and Nica- 
I- ras’s Super Mysiire fighters, possi- ragua decide." 

• ..bly with PS’s, bat said he knew of ■ Harassment Reported 

‘ Shirley Christian of He New 
York Times reponedjrom Washing- 
. ion: 

The State Department accused 
Nicaragua on Tuesday of harassing 
Nicaraguan employees of the US 
Embassy in Managua by subjecting 
them to hours of interrogation by 
- state security agents. 

Charles E. Redman, a depart- 
ment spokesman, said the United 
* Stales had protested the question- 
ing to the Nicaraguan government 
. and demanded that the practice be 
halted immediately. ' 

Mr. Redman said that 14- Nicara- 
guans who work for the embassy 
were summoned to the National 
Directorate of State Security from 
Nov. 2 to Nov. 7. He said the ses- 
ap sww had lasted six to 13 hours and 

• Humberto Orteea Saavedra b® 50 and abusive." 

“All have been accused of work- 
ing for the CIA and all have bam 
no plans to do so in the near future, told they were prisoners,” Mr. Red- 
The F-^s are more sophisticated man said. “So far, all have been 
-.than any aircraft in the arsenal of released but with warnings that 



■ Humberto Ortega Saavedra 

no plans to do so in the near future. 
The F-5*s are more sophisticated 


;.any Central American country. 

- Mr. Onega, brother of the Nica- 
raguan president, . Daniel Ortega 


they will be under surveillance in 
the future. 

“We reject any claims that these 


Saavedra, said at a news conference . employees were engaged in espio- 
that his government “has recently ' nage activities. All are employed in 


' • -vp.- ■* 


been able to confirm, through vari- 
■ ous documents and information, 
. the decision of the United States to 
^provide” F-5 s to Honduras- 
He asserted that Washington 
also was providing rebel forces 
with small, high-powered armored 
.“speedboats. He said he expected 
.the boats to be used for attacks 
against government portions along 
. the Atlantic coast. 

.. Asked what arms were being ob- 


the normal sorts of support func- 
tions, as foreign nationals in any 
U.S. embassy in the world.” 

[Nicaragua denied Tuesday that 
it had intimidated U.S. Embassy 
employees, Reuters reported bom 
Managua. The Foreign Ministry, in 
a note to the embassy, called the 
accusation “insulting and threaten- 
ing.” The ministry said it had 
adopted “preventive measures in 
the exercise of jurisdiction,” but 


‘tained to counter the purported did not elaborate.] 
.shipments to the insurgents. Mr. ■ New Peace Ef 
Ortega said the Sandinist army Central America 
would seek “all air, land and naval cajfed a new roun< 
maita'el that army plans require.” attempt to break tl 
Nicaragua has been unsuccessful the Con tad ora ini 


■ New Peace Effort 
Central American nations have 
called a new round of. talks in an 
attempt to break the deadlock over 
the Con tad ora initiative to bring 


in obtaining supersonic MiG fight- peace to ^ region, Reuters report- 
Lggi.bgh ^ the Soviet Umq^.pr... ^ fn>m -Luxembourg. ... 

MtiSge ijghter% r.n ; Foreigp Minister Augusto • Ra- 

„0[ vnucb are roughly equivalent, 40 , /tnlrcz. Ocampo of Colombia, speak- 
the F-5. The United States has said fog for the four-country Contadora 
.•that an introducoop of such air- group and Eve other Central Amer- 
. craft in Central America would be countries, meeting in Luxem- 


•an unacceptable acceleration of the 
/arms race in the region. 

American officials have indicat- 
ed that if Nicaragua acquires so- 
phisticated military jets, it would 


bourg, said Tuesday that foreign 
ministers of those countries have 
agreed to call a Ihree-day session, o! 
senior officials starting Nov. 19. 

Mr. Ocampo said the nations 


risk American raids aimed at de- also have agreed on guidelines for 
■straying them before they could be their officials to try to overcome 


used. 

' According to diplomats in Ma- 
nagua, Nicaragua has been seeking 
Jess sophisticated Czechoslovak- 
made L-39 jet trainers to bolster its 
air force. But Mi. Ortega asserted 
Tuesday that “if we are going to 
obtain airplanes,- they are going to 
be better ones than the L-39's 
; Last week the Reagan adminis- 
tration, citing aerial photographs 


Guerrillas 
In Salvador 
Under Siege 

(Continued from Page 1) 
ant supporters, called masas or 
“masses,” hide in the moon tains 
whenever troops approach. 

Under the government’s military 
pressure, rebel supporters and rela- 
tives have fled this zone and other 
rear-guard areas in the past two 
years for refugee camps or towns in 
no- man's- land where the armed 
forces are less aggressive, according 
to officials of the local revolution- 
ary government and international 
relief workers. 

This has cut into the pool of 


two remaining obstacles to a peace 
accord, the lewd of armaments in 
the region and military maneuvers. 

The new meeting was called di- 
rectly after the European Commu- 
nity signed its first political and 
economic accords with the Conta- 
dora group — Mexico, Venezuela, 
Colombia and Panama — as well as 
Costa Rica, El Salvador, Hondu- 
ras, Nicaragua and Guatemala. 


INTERNATIONAL HERALD TRIBUNE. THURSDAY. NOV KM BEK I k 1985 


Pajre 3 


an d othcr- evidence; asserted that 
Nicaragua had been receiving in- 


MANAGUA, Nicaragua — Nic- creased militaiy .shipments Tram . 
aragna’s defense minister has sue-- .the -Soviet Union, many of them 
, gested that his government-might ■ transported through Cuba. Mr. Or- 
soon acquire new military aircraft said Tuesday that this “big 
- to counter what be said was a UiS. uproar” was designed “to coverup 
.. decision to send F T S jet figh ter . the agreements they have already 
planes to Honduras. . signed with Honduras.**. 

The defense minister, Humberto -“This American charge against 
Onega Saavedra, also predicted Nicaragua, that we are receiving 
that government forces would arm * through Cuba, is aimed ax 
make decisive blows against rebels creating an. unfair view of Cuba- 
in the coating months and assure Nicaragua relations,” Mr. Ortega 



Benson: Success in Politics , Religion 

From Cabinet Official to Mormons’ f Seer and Revelator’ 


By Iver Pererson 

Vi*n Y.Tlt Tima Sirvuc 

N E W YORK. — The Ba nvan of '■ 

1927. the yearbook at Brigham .. 

Young University, named Ezra v,V 

Taft Benson “Most Likely to Sue- ^ 

ceed.” and even at that moment in ^ ^ 

his life. fev. doubled it was a sound 
prediction. 

On Monday. Mr. Benson, at the 'v-stl 1 - ' <? A”' 

age of Sfi. announced that he had - . ... 

been named temporal and spiritual .' «• 

leader of ihe Church of Jesus Chrisi v&t**,.-** 

of Latter-day Saints, as the Mor- agHE 
mons are formally known. Meeting mSe' ' 
in Salt Lake City on Sunday, the 
church’s leading authorities, ihe 
Council of the Twelve, chose Mr. 

Benson, iheir president, to fill the rilfrBS wffliS ftll 

seal of Spencer W. Kimball, who 

Mr. Benson became ihe success ap 

that the Banyan predicted for him Ezra Taft Benson 

long before reaching the upper lev- 
els of the church hierarchy. 

After graduate study in farm civil rights movement, on detente 


m 


SUu**rtUre*«a hm tmwnonona> 

Mario V&zquez Rarest, left, and Joe E. Russo, right, with Luis Nogales, chairman of United 
Press International, just before the agreement to sell the news agency was announced. 


Mexican Publisher, Texas Developer 
Agree T o Buy UPI lor $40 Million 


GiuuepeT~' i 
Volcano-^ 


A Mexican 
Prominent 
In Olympics 

Reuters 

MEXICO CITY — Mario 
VAzquez Ranau who is expected 
to lake controlling interest in 
United Press International, the 
owner of Mexico’s largest news- 
paper, one of the country's 
wealthiest people and a promi- 
nent figure in the international 
Olympic movement. 

Mr. VAzquez Rana. 53, 
served as a marksman on the 
Mexican Olympic team in 1972, 
and now heads the Mexican 
Olympic Committee, the Pan 
American Sporting Organiza- 
tion and the Association of Na- 
tional Olympic Committees. 

He made his fortune through 
the family furniture manufac- 
turing company, Hermanos 
Vazquez SAl and was a major 
financial backer of president 
Luis Echeverria, who governed 
Mexico fn»n 1970 to 1976. 

■ Son of Immigrant 

Mr^V4zquez.Rafta, the son "of 
a Spanish immigrant to Mexico, 
has personal worth estimated 
by his staff at more than $500 
million. The New York Times 
reported from Washington. 

He owns 31 Mexican news- 
paper companies that publish 
about 70 daily newspapers with 
a combined circulation of 11 
million. He bought his newspa- 
per chain, Grganizacibn Edito- 
rial Madcana, in 1976 when it 
was reported to be $78 million 
in debt, and eliminated all the 
debt while acquiring 34 more 
newspapers. 

Mr. VAzquez Rons' s chain in- 
cludes Mexico's largest newspa- 
per, Esto, which is a sports and 
entertainment tabloid, and £1 
Sol newspapers, which publish 
throughout Mexico. 


f c he at 
Mexico- 


V Sau/aqor- 


gflZwote 


Caribbe 

Ssa_. 


s f«i./ 

(usvluvw. UIGUEL \ /j 


-tsr f 




Dm Pori 


passengers during nationwide GonzAIez and based in Chalatec- 


transportation sto| 
The Reagan ad 


.tion has 


an go. 

The FMLN also agreed in prm- 


By Alex S. Jones 

Nne York Tuna Service 

WASHINGTON — The manag- 
ers, employees and creditors of 
Uoited Press International have 
agreed to sell the financially trou- 
bled news agency to a Mexican 
newspaper magnate and a Texas 
real estate developer. 

The sale, announced Tuesday, 
needs the approval of a bankruptcy 
judge- However, bankruptcy law- 
yers said that an offer endorsed by 
the creditors, management and 
union would be very likely to win 
court approval. 

Under the sale. UPI would be- 
come “New UPI Incorporated." 

The offer came from Mario Viz- 
quez Rafta. owner of about 70 
newspapers in Mexico, and Joe E 
Russo, a Houston-based developer 
who agreed Tuesday to become Mr. 
Vazquez Rana’s minority partner. 
Mr. Russo had been one of three 
prospective buyers in the final 
stages of bidding for UPI. 

The bid from Mr. Vazquez Rana 
and Mr. Russo was in excess of $40 
million, according to William Ad- 
ler. a UPI spokesman. 

He said Mr. Vazquez Rafta had 
agreed to make a capital invest- 
ment in the news agency that would 
range up to $30 million over several 
years. 

The UP! endorsement of the sale 
came de^ite a last-minute plea by 
a rival bidder, the Financial News 
Network, for a 48-hour delay in a 
decision by UPFs creditors com- 
mittee, which represents the news 
agency’s unsecured creditors. 

The news agency filed for protec- 
tion from creditors under Chapter 
1 1 of the U.S. Bankruptcy Code in 
April The company estimates out- 
standing claims at $23 million. 

Mr. Vazquez Rafia will take an 
“active personal role” in UPTs 
management, according to Richard 
S. Beatty, one of his attorneys. 

■ Sale Details Unclear 

The financial details of ihe pro- 
posed sale remained murky. At a 
press conference Tuesday night in 
Washington, UPI officials said that 
the buyers were pledging more than 
$40 miDioa to the news service, of 
which “between $15 million and 
$30 million” would be working 

Miami Chooses 
Cuban-American 
ToBe Its Mayor 

Mew York Times Service 

MIAMI — Xavier Suarez, a Har- 
vard-educated lawyer, has become 
the first Cuban-American to be 
elected mayor of Miami 

Mr. Suarez, 36, decisively defeat- 
ed Raul Masvidal, 43. who was also 
born in Cuba, in a nonpartisan run- 
off election. Both men came to ihe 
United States as refugees 25 years 
ago. 

The principal factor in Mr. Suar- 
ez’s victory was his overwhelming 
hold on the Hispanic vote, even 
against a Cuban-born opponent 
who is a self-made millionaire. 

Mr. Suarez's friends said he had 
never really stopped campaigning 


_ 7 , , , new Department of Agricultural 

Nogales, chairman of United Economics and Marketing at the 
lews agency was announced. University of Idaho. 

In the 1930s. while American 
-w-v 1 farming sank into a deep economic 

£ I IPVPlnUPI 1 depression, Mr. Benson helped or- 
" ^ v/IVIIJV'I ganize the Idaho Cooperative 

Council and. toward ihe end of Lhe 
f\ TVTSlli^ww decade, was elected executive sec- 

LF Iv lH I Ml III reiary of the National Council of 

Fanners Cooperatives. 

capital that will fund a five-year WcrldWarli roandhimamem- 
renganizalion plan. ' ber of aa ag n cu |,u ral advtio^ 

That would leave somewhere ^ “ Pr « ,dc " 1 Frankhn D. 


economics at Iowa Slate Universi- with the Soviet Union and on the 
ty. Mr. Benson became head of a women's movement occasionally 


r- j-v;. . ,; his son Reed eventually served as 

’’ press officer. 

iVJf H;# On a 1975 trip to Manila, two 

* years after he became president of 
■■ "the apostle’s council and thus next 

in line to the church presidency. 
,$jpv .- 4 - \5 Mr - Brason shorted Mormon 

w 0 ™*™ * n I * le c h urc h to remain at 

£ • *. would go on to accuse the 

vm * t'£' civil rights movement of advancing 

‘ . .. . -vs^fc . . Communist causes and to ch&rac* 

■’ terize the graduated income lax as 

Young University audience^that 
the words of the church president 
|HHHK took precedence over all past pro- 
^ 9H nouncements and revelations from 
lltlSi -flk God, and over written Scripture. 

He continued during these \ ears 
as a roving troubleshooter for the 
** church with special attention to 
Ezra Taft Benson foreign missionary work. 

Church officials have discounted 
... . speculation that, now that he is the 

ayil rights movement, on detente undisputed “prophet, seer and rev- 
with the Soviet L ! nion and on the elator” of the Mormon church, as 


Ezra Taft Benson 


embarrassed the church. 


the president is styled. Mr. Benson 
will renew his outspoken censerva- 


from $10 million to $25 million to 


Roosevelt, whom his church had 


i Avail iffiv uujuuii av iiuiuuu vu » . . , . 

pav off UPI's creditors, who are ^gP. 0 ^ ^, lhe 1932 e, “ uon f - J n 
wed roughly S30 million, accord- J. e ^f"L e a , men l ber of ** 
ing to sources within the company. g lhe Twelvft the ^ d ; 

In a norv on its own news wir«. M , orn, f ^ 

UPI reponed that Mr. Vazquez f* lhe church president and hxs 

Rafta and Mr. Russo would pav * m ' al ^ ,he First 

$21 million in cash: S9.5 million. o'r 2^’ ■_ , 


40 cents on the dollar, to unsecured 


Mr. Benson became known na- 


* 1 UVUIUUIJ UKlRMIdl , iUUUbCLUlUl .■ «i • . _ 

creditors owed S22.S milhon: S3.4 “ft m . l9 S f £ 

million in various back taxes; S4 “Snculture to President Dwight D. 

million to cover bankruptcy claims lhe ^ Motmon offi- 

hv PmniAv^- an d mv, 9* lo ol in a P^denual cabinet 


by employees: and complete pay- 
ment to all creditors owed 53,000 
or less. 

■ Editorial Guarantee 


in 100 years. 

Skeptical of federally sponsored 
farm programs and price supports, 
he fought hard to restrain demands 


Mr. Vazquez Rana. in an inter- for aid to agriculture, 
view with editors of UPI, said he Farmers direw eggs at him and 
intended to keep the wire service Democrats in the Senate Agricul- 
free of pol itical i rtf] uence and guar- ture Committee hectored him when 
antee its editorial independence, he appeared before the panel, 
the news agency reponed from Upon leaving the Eisenhower 
New York. administration in 1960. Mr. Ben- 

“News must not be manipulat- son took up church duties on a full- 
ed,” be said. “UPI will achieve lime basis. His aggressively conser- 
profits by providing quality news vative views continued to attract 
reports.” attention, and his attacks on the 


In the 1960s. Mr. Benson became tism on social and political issues, 
closely associated with, but never He is married and has six dis- 
joined. the John Birch Society, a dren, 34 grandchildren and six 
rightist political organization that great-grandchildren. 


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organized peasants wh«> grow food, persuaded Congress to finance a ciple to unite its often fractious five since 1979 and that his six-year 
sew clothes, carry supplies and spy major buildup of the military, par- forces into “one single army." and effort had been seen by many His- 
for the guerrillas. At most 25.000 ticolarly the air force. ~ to spread the war to new areas, panic voters as proof of his tenacity 

civilians, 0.05 percent of the na- “Without the help from the particularly in San Salvador and and dedication, 
lion's population, live in areas nor- planes, the army wouldn’t ever get the mostly peaceful western. - The election of a former Cuban 

mally under rebel control and ac- in here,” said Maria Serrano, a vet- Viewed from this isolated re- refugee as mayor of this ethnically 


lively work for the guerrillas. 

1 The election of Jos6 Napoledn 
Duarte last year, accompanied by a 
modest, U-S.-backed purge of mm- 


modest, U^.-backed purge of mm- . bun do Marti National Liberation 

tary officers involved in “death Front, known by its Spanish ini- 
squad” activities, has bolstered the- - dais FMLN. drew up new sirato- 
govemment’s prestige at home and gies to deal with what it termed the 
abroad. But the guerrillas’ image government’s newstyleof counler- 
has suffered becanse of increasing insurgency warfare. The FMLN 
attacks on civilians, including the ' consists of five guerrilla armies, 
kidnapping of. more than 30 may- one of which is the Popular Libera- 


mlarly the air force. ~ to spread the war to new areas. 

“Without the help from the particularly in San Salvador and 
anes, the army wouldn’t ever get the mostly peaceful western. - 
here,” said Maria Serrano, a vet- Viewed from this isolated re- 
eran. peasant organizer. treat, the rebels' conviction that 

At a meeting of its five-man gen- this strategy will succeed is easier to 
era! command in July, the Fare- understand. The only people left 
bun do Marti National Liberation here are militants with years of ex- 
Front, known by its Spanish ini- patience either in the guerrilla 
‘ is FMLN. drew up new strate- forces or in radical mass organiza- 
ss to deal with what it termed the ikms, so the sense of commitment 
vern mem’s new style of counter- is continually reinforced, 
urgency warfare The FMLN NEXT: Plans to merge El Salva- 
nsists of five guerrilla armies, dor's five guerrilla forces signal a 


effort had been seen by many His- 
panic voters as proof of his lenari ty 
and dedication. 

The election of a former Cuban 
refugee as mayor of this ethnically 
mixed city was assured Nov. 5, 
when Mayor Maurice A Ferre, 
who was bom in Puerto Rico, fin- 
ished third behind the two con- 
tenders in Tuesday’s runoff. 

The bilingual campaigning, 

which has now become a perma- 
nent part of Miami politics, was 
largely devoid of personal attacks. 
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THURSDAY. NOVEMBER 14, 1985 


licralblSfeSribunC, Keeping Mideast Hopes in Focus 


PublWhnl «iih Thr V. lurKTinw and The Washington 


Is UNESCO Incorrigible? 


Walking oui of UNESCO a year ago, ihe 
United States pledged to keep open the possi- 
bility that this fallen institution might yet 
regain the value to make it worth America's 
while to rq'oin. To this end the Reagan admin- 
istration posted an official watch and set up a 
citizens' commission to oversee the adventure 
of reform. It continued consultations with the 
20 or so Western countries that (most of them! 
were scarcely less disturbed than Washington 
by mismanagement and politicization of the 
United Nations Educational. Scientific and 
Cultural Organization, but which had decided 
to use the shock imparted by U.S. withdrawal 
to test the chances of reform from within. 

So how are things going? The British had 
said they would quit by year's end if . . . They 
were a bit vague on the ‘if.’ to allow room for 
maneuver on an issue where the political com- 
munity is split, journalism is engaged and 
Britain's European allies and Commonwealth 
partners are pulling it in different directions. 
At the biennial UNESCO conference just 
completed in Sofia, the British hedged, joining 
the prevailing consensus on key resolutions 
but inserting reservations. The resolutions had 
to do with areas where the fuzzy leftism of 
UNESCO has in the past sent Western demo- 
crats up the wall. One such area is internation- 


al communications; controlling the media is 
the familiar UNESCO itch. Another is “peo- 
ple's rights." a phrase some UNESCO folks 
would like to use in place of human rights. It 
was, for the West, an uphill struggle. 

All the same, there was some movement at 
Sofia, Resentment at the American withdraw- 
al was tempered by a strain of regret and hope 
that the United States would reconsider. Dis- 
putes over the position of the American _ ob- 
server mission. American financial obligations 
and the rights of American nationals on the 
UN ESCO staff came out in a way satisfactory 
to Washington. Some progress was recorded 
on questions of budgeting and management 

And while America has insisted that it 
would not get personal, it escaped no one's 
attention that the Soviet bloc suddenly with- 
drew its support for a third term for Secretary- 
General Amadou Mahiar NT Bow, who lost the 
confidence of most Westerners years ago. The 
Russians may feel that a club without Ameri- 
can members is not much worth belonging to. 

The United States left UNESCO because 
the organization was standing its founding 
ideals of freedom on their head. Working to 
reform UNESCO is the best tribute to the role 
that it might again play. 

— THE WASHINGTON POST. 


Stay Out of Angola’s War 


Should the United States come to the aid of 
anti-Communist rebels in Angola? Doing so 
would be legal now that Congress has repealed 
the Dark amendment, which has barred such 
aid since 1976. Many Americans are pressing 
the Reagan administration to side openly with 
Jonas Savirabi. who commands the UN1TA 
insurgents. In their eyes it is a simple choice, 
no different from helping the guerrillas who 
resist Soviet invaders in Afghanistan. Angola's 
Marxist government gets copious aid from the 
Soviet bloc. Why not balance the scales? 

If politics were Euclidean, that argument 
might be persuasive. But in Angola the short- 
est distance between two points is a crooked 
line. A civil war erupted in the former Portu- 
guese colony when it abruptly attained inde- 
pendence in 1975. Angola's eight million in- 
habitants belong Lo three big and many 
smaller ethnic groups, none strong enough to 
dominate. In the contest for power the belli- 
gerents have scrambled for foreign aid. 

The avowedly Marxist MPLA. or Popular 
Movement for the Liberation of Angola, won 
control of the capital with Sevier weapons and 
Cuban troops. In the bush. Mr. Savimbi’s 
UNITA. the National Union for the Total 
Independence of Angola, fights on. aided by 
South African arms and interventions and 
Western mercenaries. Each side invokes lofty 
ideals tojustify a refusal to share power among 
all ethnic groups. But the ideals are mocked by 
the belligerents’ hehavior. 

Mr. Savimbi promises freedom, and ratio- 


nalizes reliance on South Africa as a desperate 
necessity. His foes in the capital speak of 
sovereignty and plead the same desperation to 
justify reliance on the Soviet bloc. But their 
Marxism has not prevented them from dealing 
fairly with American oil investors, and their 
dependence on Cuban troops has been greatly 
increased by South Africa's meddling. Indeed, 
Pretoria has fanned the Angola war to perpet- 
uate its illegal hold on neighboring Namibia. 

In these circumstances, to side with Mr. 
Savimbi is to side with South Africa's wider 
campaign to dominate its neighbors. To black 
Africans, Angola is mainly South Africa’s vic- 
tim, not the Soviet Union's. In helping the 
Afghan resistance, the United States aligns 
itself with a significant bloc or non-Commu- 
nist nations. Helping Mr. Savimbi would be 
to align only with South .Africa. 

Such distinctions in defining America’s in- 
terest are more important than the ostensible 
Marxism of some African regimes. The way to 
win their respect and friendship is to recognize 
their interests in the definition of America's 
own. Mr. Savimbi angrily denies that he is 
South Africa's pawn but insists that his rivals 
are fatally compromised by their dependence 
on foreign help. In truth, this is not a war 
between pawns, but between Angolans. 

Repeal of the Clark amendment is not a 
mandate for intervention. The prudent course, 
as the State Department contends, is to stay 
out and press for a regional settlement 

— THE NEW YORK TIMES. 


Other Opinion 


Waiting for Mideast Change Room for a Soviet Role? 


Hitler showed — and, on quite a different 
scale, Lebanon shows — that treaties do not 
assure peace unless they have wide popular 
support and leaders determined to back them. 
If the Arabs were no more of a threat to Israel 
than the Canadians are to the United Stales. 
Israel would have every reason to give up its 
occupied territories as part of a peace deal with 
Jordan. But the national aspirations of the 
Palestinians, however reasonable they sound, 
are ail loo likely to pave the way for the 
annihilation of IsraeL As long as this remains 
the Arab purpose — and the Palestine Libera- 
tion Organization charter states os much — 
Israel would be suicidal to give up territories. 

What can be done, then, about the Palestin- 
ian problem? Nothing, except to wait and hope 
that time will bring change in Arab ideology. 

We err, however, in assuming that it is the 
Palestinian problem that causes the danger of 
war in the Middle East. In fact, it is an Arab 
problem — an Arab hostility toward Israel 
that extends far beyond the Palestinians. 
American diplomatic efforts to solve the Pales- 
tinian problem are thus at best irrelevant. 

Change wall take years. With the “radical" 
Arabs at their backs, the “moderates" will not 
dare give up the dream of annihilating IsraeL 
We should stop sponsoring one silly “peace 
process" after the other. Premature diplomacy 
puts pressure on Israel to do what it cannot do'. 


The Middle East was not among the trouble 
spots listed by President Reagan as priorities 
for his Geneva agenda. That does not mean it 
will not be high on the list, simply that in East- 
West terms it has mercifully not proved a 
trouble spot. Inside the Middie East, the clos- 
est interest is being taken in the possibility, 
now seen as a likelihood, that af ter the summit 
meeting the long exclusion of the Soviet Union 
from anything that might pass as a peace 
process will end. The signal for that will be the 
restoration of diplomatic relations with IsraeL 
with an accompanying release of Soviet Jews 
who want to emigrate. For Mr. Gorbachev the 
humanitarian gesture and the political act 
would be one and the same. 


— Ernest van Jen Haag, professor of jurispru- 
dence and public policy at Fordham Univer- 
sity Law School in The New York Times. 


— The Guardian (London}. 

King Hussein of Jordan seems to be on the 
point of regaining his Middle East balance. 
For nearly three years he has courageously 
pursued a peace process born out of the Pales- 
tinian military defeat in Lebanon and Presi- 
dent Reagan's subsequent initiative in Septem- 
ber 1981 He has not relinquished that pursuit, 
but by sending a top-level delegation to Syria 
he is signaling a desire to explore a broader 
range of policy options. 

The greatest short-term contribution Presi- 
dent Reagan can make is to achieve a measure 
of understanding with Mr. Gorbachev. They 
could find they have more in common than 
might be supposed. [This] could have a salu- 
tary effect on their Mideast clients. 

— The Financial Tunes (London}. 


FROM OUR NOV. 14 PAGES, 75 AND 50 YEARS AGO 


1910: N.Y. Transit: The Bad Old Days 

NEW YORK — The generation of today, 
journeying abom town by subway, elevate! 
railroad, trolley and taxicab, knows little of the 
archaic period in the "70s when the town had 
outgrown its old systems of transit. In those 
days the Broadway omnibuses were the chief 
means of transport to and from Wall Street, 
and the trip from the financial centre to 23d 
Street usually consumed an hour owing to the 
traffic. Brooklynites came and went on ferry- 
boats and Harlem was reached by a fleet of 
East River steamboats. The floors of the horse 
cars that plied Third Avenue and University 
Place were piled thick with straw, in which 
passengers were supposed lo keep their feet 
warm. It is for these and other reasons that 
old New Yorkers grumble less about the sub- 
way than do their juniors. 


1935: Anti-British Riots in Egypt 

CAIRO — Violent anti-British rioting broke 
out today [Nov. 13] in various parts of Egypt. 
Two persons are dead and 150 injured. In- 
flamed by increased British pressure on Egypt 
in the present International crisis, mobs at- 
tacked the British Consulate in Cairo. Further 
rioting in Cairo was feared tonight when 
40.000 Egyptians answered the call of Nahas 
Pasha, leader of the Wafd Nationalist party, to 
a moss meeting. The occasion of the riots was 
the 17th anniversary of the day when the first 
Egyptian delegation went to London after the 
Armistice to ask for Egypt’s independence. 
Hopes of independence were raised then in 
consideration of Egypt's part in the World 
War. Similar hopes were raised recently in 
view of Egypt's cooperation with Great Britain 
in the present conflict with Italy. 


international herald tribune 

JOHN HAY WHITNEY. Chairman 


KATHARINE GRAHAM. WILLIAM a PALEY. ARTHUR OCHS SULZBERGER 

Co-Chairmen 


PHILIP M. FOISIE 
WALTER WELLS 
SAMUEL ABT 
ROBERT K. McCABE 
CARLGEWIRTZ 


LEE W. HUEBNER. Publisher 
EiKieirc EJiior REN£BONDY 

Ednar ALAIN LECOUR 

Deputy Editor RICHARD H. MORGAN 

Deprn- Editor STEPHAN W. CONAWAY 


Dtparv Publisher 
Assoaau Publisher 
.4 aaaan Publisher 
Director of Operations 


Aucaait Editor FRANCOIS DESMA ISONS Director of Circulation 

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W ashington — T he prospect 

for serious negotiations be- 
tween Israel and Jordan over the so- 
called Palestinian issue is brighter to- 
day than it has been at any time 
during the three decades of Israel's 
existence. Preparations for such talks 
may indeed be taking place now, pri- 
vately. The next few weeks will be a 
critical time. 

Both sides will continue to pay lip 
service to grandiose and often impos- 
sible goals, but if the talks are to bear 
any fruit at aU, both leaders must 
focus when they meet on the immedi- 
ate, concrete problems that mean the 
most to them both. 

The guiding precedent should be 
the process that culminated in the 
Egyptian-Uraeli peace treaty. Mena- 
chon Begin and Anwar Sadat ended 
up exchanging very concrete political 
goods and each took home a coveted 
prize. Mr. Begin was in a position to 
offer the Sinai to Mr. Sadat, who was 
in turn in a position to offer Israel 
a peace treaty. 

Most important, neither leader en- 
tertained any illusions about the oth- 
er. Mr. Begin knew that Mr. Sadat 
could make no serious compromises 
on the Palestinian issue and Mr. Sa- 
dat knew that Mr. Begin would never 
relinquish his dream of Greater Isra- 
eL In public, both pursued chimeri- 
cal, intangible goals — Mr. Sadat 
calling for Palestinian self-determi- 
nation, Mr. Begin asking for a com- 


By Amos Perlmutter 


prehensive peace with all Arabs. Bui 
both knew that when they got to the 
table they had to concentrate on a 
plausible accord. 

Prime Minister Shimon Peres and 
King Hussein have a number of solid 
goods to exchange. The principal one 
is negative — neither wants an inde- 
pendent Pales tinian state on his her- 
der. Hussein cannot, of course, afford 
to say so in public, but he would be as 
threatened as Israel would by an in- 
dependent state on the west bank of 
the Jordan River. 

Talks certainly will have to begin 
in private. Jordan faces pressure from 
the Palestine Liberation Organiza- 
tion and the moderate Arab states, 
who continue to assert that the PLO 
is the only legitimate representative 
of the Palestinian people. Mr. Peres 
fears that talks with Jordan would 
destroy his fragile national unity gov- 
ernment and leave him Toeing anoth- 
er deadlocked election. 

Nevertheless, neither man can ig- 
nore this opportunity to move toward 
peace. Born have accepted the princi- 
ple of international participation. 
The United States seems willing to 
help. And, most important, the politi- 
cal credibility of the PLO now seems 
seriously tarnished. 

What further steps need to be tak- 
en to bring about negotiations? Syria 


and Jordan must proceed with the 
rapprochement begun in recent 
weeks — a thaw that inevitably will 
bode ill for Yasser Arafat. President 
Hosni Mubarak of Egypt could also 
help by brokering a new arrangement 
for a Jo rdani in-Palestinian delega- 
tion. Such a delegation might include 
Palestinians from the territories or 
even from the ranks of the pro-Syri- 
an. anti-Arafat PLO factions. 

Before any public negotiations can 
take place, Mr. Peres and Hussein 
must meet privatelyto narrow in on' 
their tangible goals. Hussein could 
take such an opportunity to inform 
Mr. Peres about the Palestinians who 
might participate in a joint delega- 
tion. Mr. Peres might propose a uni- 
lateral withdrawal of the military oc- 
cupation forces on the West Bank in 
preparation for some kind of Pales- 
tinian autonomy there. Both sides 
could reassure each other that there 
will be no Israeli annexation and no 
independent Palestinian state. 

One great advantage of such pre- 
paratory talks would be to oust Mr. 
Arafat’s PLO from any future negoti- 
ations. Mr. Arafat has disillusioned 
virtually all of his friends and badly 
embarrassed Hussein by refusing to 
give up terrorist activities in “Pales- 
tine" or to recognize Israel. Western 
public opinion now sees the PLO 
with brutal clarity, and even the Pal- 
estinians in the territories are increas- 
ingly impatient for peace. 



Halfhearted 


Assault on 


Apartheid 


Bv Thomas Conrad 


Br Ze'ev In HfiftKOT* (T*I Aviv). 

CftW Syndloot*. 


Israel and Jordan still haw a 
c han ce to achieve a condominium in 
the West Bank, leading eventually to 
some kind of I sra di-Jordanian con- 
federation. Like most plausible solu- 
tions, this leaves out the extremists 

Israeli annexationists, Arab rqec- 
rin nisK and those who yearn for a 
Pales tinian state. It would, however, 
be a giant step forward — the only 
likely breakthrough in the moribund 
Middle East peace process. 


The ABM Fallacy, and a Summit Lesson for Reagan 


N EW YORK — The Reagan 
administration's curious deci- 


i/N administration's curious deci- 
sion to keep Caspar Weinberger out 
of Lbe summit conference in Geneva 
provides a backhanded reminder of 
a different defense secretary, a dif- 
ferent s ummi t meeting, and a re- 
markable turnabout. 

In January 1967, President Lyn- 
don Johnson announced in his an- 
nual budget message that the Unit- 
ed States would “continue intensive 


By Tom Wicker 


development" of an anti-ballistic 
missile system: but, be said, he 
would take no action to deploy the 
defense, pending the outcome of an 
overture to Moscow for talks on 


limiting ABM deployments. 

Here was a classic Johnsonian 
compromise. Intelligence suggested 
thm the Russians were be ginning 
the deployment of an ABM defense 






, V \j/jt 'ryf j 

My s&is n&cte&Y 


around Moscow; but continuing 
U.S. development of an ABM sys- 
tem would temporarily placate the 
joint chiefs of staff, congressional 
hawks, and Republican critics. The 
delay in deployment, plus the over- 
mre’to Moscow, reflected the oppo- 
sition of Robert S. McNamara, the 
defense secretary, to ABM defense, 
and both his and the president’s 
desire for strategic arms talks. 

Moscow, apparently suspecting 
that "Washington wanted to limit 
Soviet defenses while retaining 
what were then its own offensive 
advantages, hedged on entering 
such talks. And in February, Prime 
Minister Alexei Kosygin, speaking 
in London, defended AB Ms. 

. More than 18 years later, in his 
speech lost month to the United 


missies CoM huxt us 



nnd even hurt our 
house, W\T\<$pg<$tNt) 
property vdhues. 


Nations, President Reagan quoted 
Mr. Kosygin: “1 believe that defen- 





So 6js6Ay m says we Can 
bu/idL d reAtiboW anovnd 
our house 



tfrkJ. maybe the t)uc\&tr 
m iss/jfeff uj\H bounce off 
the rainbow 


m toms 


My &La6d y vYorfcs on 
Star V/ars and says 
therms a. f*>t of 90 Id 
If? that m inker*! -For us. 


My daddy \s smart. 
He realty knows noiv 
to turn a buck. 


Mr. Kosygin; “1 believe that defen- 
sive weapons, which prevent attack, 
are not the cause of the arms race 
but constitute a factor preventing 
the death of people.” 

In June 1967, however, Mr. John- 
son and Mr. Kosygin unexpectedly 
agreed to meet at Glassboro. New 
Jersey. The president brought Mr. 
McNamara along and, over lunch, 
Mr. McNamara argued the case 
against ABM defense directly to the 
Soviet prime minister. Mr. Kosygin 
appeared unimpressed and still re- 
fused to agree to arms talks; Mr. 
Johnson wrote in his memoirs that 
“the point did not get across — or 
Kosygin chose not lo understand." 

In a speech in San Francisco that 
September, Mr. McNamara made 
the point publicly: 

An ABM system, be said, “can 
rather obviously be defeated by an 
enemy simply sending more offen- 
sive warheads, or dummy warheads, 
than there are defensive missiles ca- 
pable of disposing of them." 

“Were we to deploy a heavy 
ABM system," he added, “the Sovi- 
ets would clearly be strongly moti- 
vated to so increase their offensive 
capability as to caned out our de- 
fensive advantage." The United 
States, Mr. McNamara made clear, 


would respond ip the same way to 
a corresponding Soviet challenge. 

That remains the crux of the case 
against ABMs of far more advanced 
technology, including Mr. Reagan's 
proposed Strategic Defense Initia- 
tive; and apparently “the point" 
had had more effect on Mr. Kosy- 
gin than Mr. Johnson realized. 

Mr. McNamara concluded the 
San Francisco speech with an ex- 
traordinary “yes, bnt“ when he an- 
nounced that the United States 
would deploy a limited defense 
against the possibility of a missile 
attack from China — a step owing 
less to strategic necessity than to the 
internal politics of the Johnson ad- 
ministration. Members of Congress 
and the military made it dear — ■. 
though Mr. McNamara opposed 
the idea — that they considered this 
the first step in -a “heavy” ABM 
defense against Soviet attack. 

That prospect apparently con- 
vinced the Russians to heed McNa- 
mara's dassboro warning that a 
missile defense on one side would 
inevitably stimulate an increase in 
offensive missiles on the other, and 
vice versa. In June 1968, Moscow 
agreed to enter arms control talks; 
and Mr. Johnson, who had by then 
refused to seek re-election, was 
ready to announce on Aug. 21 that 
he would go to Moscow, to begin 
such talks in October. The Soviet 
invasion of Czechoslovakia on Aug. 
20 scuttled the arrangement. 

When what became known as the 
SALT talks finally began in No- 
vember 1969, not just President 
Richard Nixon — who had em- 
braced the McNamara arguments 
and persuaded the joint chiefs to go 
along — but the Russians too were 
pressing for a limitation on ABMs. 
It was ultimately reached in the 
treaty of May 1972. 

Moscow's willingness to enter 
that treaty represented one of the 
great turnabouts in Soviet- Ameri- 
can relations — but no greater, un- 
fortunately, than the turnabout of 
the Reagan administration in be- 
coming the new champion of the 
old ABM fallacy. 

The New York Times. - 


'Shoah’: Evoking the Holocaust in Brilliant Simplicity 


W ASHINGTON — There has 
□ever been anything like it. or 


VV never been anything like it, or 
its subject so there is something flat 
about saying that “Shoah” is tbe fin- 
est film ever. So say this: It is the 
noblest use to which cinema — the 
technology, the techniques — has 
been put, ever. 

Oaude Lanzmann's nine-hour 


By George F. Will 


masterpiece “Shoah" (the Hebrew 
word for annihilation) is an elidta- 


word for annihilation) is an elicita- 
tion of memories of the Holocaust 
and it proves that tbe unspeakable is 
□ot inexpressible. 

No subject is too large or lurid to' 
be encompassed by words weB cho- 
sen. And when words are joined with 
pictures that do not subordinate the 
words to visual values, even plain 
words are like diamonds in platinum. 

Cinema rarely rises from a craft to 
an art Usually it just manufactures 
sensory blizzards for persons too pas- 
sive to manage the engagement or 
mind that reading requires. Cinema 
usually is a medium for modest atten- 
tion spans. Paradoxically, “Shoah” is 
brilliant because it is an act of cine- 
ma Lie modesty, it uses pictures, usu- 
ally of people plainly framed or land- 
scapes slowly panned, as a sort of 
silent music behind the words. 

Rhetorical nourishes are few. (A 
death camp survivor says: “If you 
could lick my heart, it would poison 
you.") There are some moments of 
savage iHummation, as when an SS 
veteran replies to a question about 
how many were killed at a particular 
place: “Four something — four hun- 
dred thousand or forty thousand." As 
eloquent as even the most eloquent 
words are the sdenoes, the pauses, the 
flickering expressions as facial mus- 
cles struggle for composure. 

The most stunning episode in this 
shattering film lasts about five min- 
utes and involves “only* the talk of a 
barber now in IsraeL While he clips 
the hair of a customer he talks, never 
needing to raise his voice to be heard. 
He describes his duties in Treblinka. 
cutting hair from naked women on 
the threshold of the gas chamber, and 
the day a fellow barber saw his wife 
and sister enter the room. 

The film’s recurring image is of 
trains rolling across Poland's flat ter- 
rain. There is a sinisiemess. a menace 
in the mere clackety-clack of wheels 


rolling down a single track between 
lovely pines toward a shimmering 
clearing, a camp. A locomotive engi- 
neer, old now, his face the rex cure of 
elm bark, tells how he was plied with 
vodka to enable him to push to un- 
loading platforms the freight cars 
packed with Jews dying of thirst. 

One reviewer got it exactly right 
when hc described lanzmann as a 
“cinematic pointillist." He works in 
minutiae that, cumulatively, become 
portentous. He asks a question such 
as, “Was this road asphalted then?” 
and the person questioned begins to 
talk and a narrative builds, detail 
upon detail, until you have hell in a 
monotone: it is the more hellish for 
its matter-of-factness. 

One person, after seeing “Shoah.” 
wrote to Lanzmann that it was the 


first time be had heard the cry of an 
infant in the gas chamber. He hjtfl 
not, of course. What he had heard 


was tbe quiet description by an 
Auschwitz survivor of the way bodies 


Auschwitz survivor of the way bodies 
were jumbled when tbe gas-chamber' 
doors opened, and what that jumble 
of flesh and blood and vomit and 
excrement told about the final min , 
utes in the dark when fathers lost 
their grips oo their sons and the 
strong dim bed over the weak as the 
gas fumes rose. 

Here is a task — a duty — for 
Jewish and other organizations: sub- 
sidize the sale of cassettes of this film. 
No church or school should be with- 
out it lanzmann's little questions 
(“What color was the truck?") wind 
up answeringone big question: What 
was it like? The answer to that com- 


Greenpeace and the French 


LETTERS TO THE EDITOR 


Regarding the opinion column t ‘7he 
Socialists’ Greenpeace Sentence? Sus- 
pended Until March” (Nov. U}: 


William Pfaff dies my Spectator 
article on the French Army without, 
it seems, having read the text. I did 
not suggest that Greenpeace had pro- 
voked a “highly sophisticated form of 
coup d'etat.” In fart, I said the oppo- 
site — that Greenpeace, in itself, was 
of very little importance to France, 
except that it revealed to the public 
the government’s lack of control over 
the army. The phrase, “a highly so- 
phisticated form of coup d’etat,” was 
used to describe what has taken place 
at almost regular intervals in French 
history — as recently as 1958, with 
dose calls in 1961 and 1968. It de- 
scribes the withdrawal of support by 
tbe French Army from a regime 
caught up in politiral and public dis- 
order. This withdrawal in a moment 
of need creates a power vacuum into 

which the regime collapses. 

What I said in my article was that 
the rules of the game have been 
dunged by the decision in the early 
1970s to build the Gendarmerie into 


a full-scale military force and to put it 
in charge of internal order. As a re- 
sult, there is no longer any concrete 
reason to fear a military withdrawal 
of support. The politicians, the offi- 
cers and the public have not, howev- 
er, adjusted to this change. They still 
see the army as the bottom-line guar- 
antor of any regime's survival. They 
have therefore reacted to the last few 
months’ events as if the army's active 
friendship were essential to remain- 
ing in power. As a result, France 
appears to be slipping toward yet 
another of its historic crisis points. 

Mr. Pfaff talks blithely of the So- 
cialists finding themselves; “with an 
unwelcome debt to the army” and yet 
does not ask whether it is norma] in a 
democracy for governments or par- 
ties to have debts to armies, what 
would he suggest are the possible 
consequences of the non-repay mem 
of the debt? We are left wondering. 

On the debt side he lists the sacri- 
fice of “a cabinet minister for whom 

we [the army] had high regard.*’ Had 

Mr. Pfaff bothered to deck with a 
few generals he would know that the 
former defense minister, Charles 
Hernu, is not highly regarded by the 
army. The fact that the minister loved 


a supreme irony: He will be unable to 
deliver the military’s loyalty. 

Surprisingly. Mr. Pfaff. wiles 
about the end of the Greenpeace af- 
fair without mentioning General Phi- 
lippe Arnold’s subsequent criticism 
ot government military policies (The 
general was suspended as tank divi- 
non commander after saying the 
French tank force was outdated.) 
Gronpeace was arignaL General Ar- 
nold was a further signal. Politicians 
are forming (and breaking) alliances 
with generals and vice vesa, fust as 
they id during the Third and Fourth 
republics, m .anticipation of some 
sort of confusion next year. 

john Ralston saul. 


a an 

Tough Talk on Terror 


“T?S^° nd PS* °P* nioa cotom n 
New Rates’* 


The writer is author, most recently, 
“Israel: The Partitioned State ; A 
Political History Since 1900. ” He con- 
tributed this to The New York Times. 


P hiladelphia - Preside® 
Reagan took the wind out of the 
sails of the bipartisan anti-apartheid 
movement in September when he 
buckled to pressure and signed an 
executive order outlining sanctions 
against South Africa- But now that 
the outline is taking shape in the form 
of diluted regulations, u is dear the 
administration’s commitment to end 
apartheid was only half-hearted. 

The Commerce Department is cir- 
culating a watered-down vereion of 
the sanctions and wffl not allow the 
usual public comment period once 
the regulations are. issued. As they 
stand, the sanctions are filled with 
loopholes and exemptions and will 
have little impact on apartheid. 

To be fair, the draft regulations 
will expand some controls by reduc- 
ing the number of shipments of tech- 
nology permitted under blanket li- 
censes and by adding a few more 
South African agencies to the list of 
prohibited customers. Yet on bal- 
ance, they will be little more than a 
mild irritant They are designed to 

3 uiet public criticism but nor to stop 
le flow of strategic technology to 
South Africa's police, its mflitaiy and 
its arms industry. 

The regulations, in their latest 
draft form, have several Wind spots: 

• They leave most South African 
government agencies off the embargo 
Esl The regulations bar shipments to 
a few national “apartheid-enforcing 
agencies" but fail to 1 ban salts to 
other national and hundreds of local 
bodies that can import for the re- 
stricted agencies. 

• They permit American compa- 
nies to sell computers and. compo- 
nents in systems in third 

countries and then reshipped to 
South Africa as long as the compo- 
nents constitute less than 20 permit 
of the price of the total system. This 
“re-export" loophole could allow im- 
ports of millions of dollars worth of 
sophisticated U.S. technology. 

• They continue to permit high- 
tech sales to South African commer- 
cial arms contractors. Although di- 
rect sales to the state weapons 
conglomerate and (be security forces 
are prohibited, tbe military has an 
umbilical relationship with about 
1,000 commercial arms companies. 
The sanctions will do nothing to pre- 
vent American high-tech equipment 
from reaching these corporations. - 


They contain an escape hatch 
that exempts contracts with nonem- 
bargoed apartheid-enforcing agen- 
cies signed before the executive order 
went into effect. It is highly probable 
that Pretoria signed longterm con- 
tracts with computer companies pre- 
riselyto preempt any new sanctions. 

. •They establish a narrow defhu- 
: tion of arms and related equipment 
that are off-limits rather than using 
the State Department’s “munitions 
list," which establishes clear, defini- 
tions. The Commerce Department 
quietly licensed sales of S27.9 million 
of technology on the munitions list 
from 1982 through 1984. Without a 
total ban of items on the munitions 
list and.a “commodity control" list, 
these exports may increase. 

The new provisions also fail to es- 
tablish meaningful enforcement and 
verification mechanisms. The regula- 
tions simply require computer com- . 
parties to secure an agreement from 
their South African customers not to 
make the equipment available to pro- 
hibited agencies. 

Can the South Africans be expect- 
ed to enforce U.S. export restrip-; 
tion$? South Africa has a long record, 
of using subterfuge to obtain weap- 
ons and technology. • 

. If Pretoria cannot be counted on lo 
enforce the embargo, can American 
companies be relied on to do so? For . 
the most part, the corporations: say 
they are powerless to prevent thetr 
products from being diverted once 
they reach South Africa. Regardless 
of the companies’ . inclinations, the 
South African government can evoke 
the Business Protection Act or other, 
local law to prevent South African 
subsidiaries of American corpora- * 
lions from cooperating with Com- 
merce Department inquiries. 

Pretoria and most South African 
companies likely will declare a will- ." 
ingness to observe the restrictions^ 
But once computers have been in- 
stalled, h will be virtually impossible 
to know who logs on — a nurse or a 
police officer, a lollipop maker ora 

gun manufacturer. 


tains tbe answer to another big ques- 
tion, the question that is the title of 
the only other film T-aiwmann has 
made: “Why Israel?” 

The Nazi project was to erase Eu- 
ropean Jewry — not just kill but erase 
traces. So tbe Naas ground to dust 
the bones that would not burn and 
threw the dust in rivets and lakes. 
“Shoah," like Solzhenitsyn's “Gu- 
lag.” is an act of con tinuing resis- 
tance to a continuing atrocity. 

Continuing? Yes, it is an assertion 
of memory against a program of era-, 
sure, a program that will not be ful- 
filled until memory fades and indif- 
ference reigns. Lanzmann cites a 
philosopher's statement that Eu- 
rope’s massacred Jews “are not just 
of the past, they are the presence of 
an absence." Wherever “Shoah" is 
seen, they are present. 

Washington Post Writers Group. 


IV 
1 


■_ - •, -ai 


ffw* 
n iii 
On a 


m 



1,- 

3 

?ft§ 

m 


The writer, a researcher for ffte' 
American Friends Service Committee, ’ 
a Quaker organization, is the author «# 
Automating Apartheids He contrite ' 
uted this to The Hew York Taws. :. ; 


the army does not mean that the 
army loved the minister. They are 
indifferent lo him. And if he reap- 
pears next year as the army’s man in 

Some sort of coalition gover nmen t 
faced by political instability, it will be 
a supreme irony: He will be unable to 


international problems. The trouble, 
is that the facts do not fit tbesalatiao 
that Mr. Price offers. . ^ 
^Wbere^tmon^ is endemic, as in 
the Middle East those involved often’ 
platx Uttle value on theiz owd-fivK 
5?y even prefer martyrtfcm to -. 
liR- Their convictions are die bver- 
nuing force. The argument that “in-. 
dividMal terrorists must bb oflade io ■ 
nun is largely irrelevant. Mest ter- 
ronsm — with the exception of that 

Sponsored hv rtLji-.cvl' ■ 


:?,k > 

: 

' 




'•'ifeb’- 


* — -u^unuVi nuu - 

t«|roups, not governments. r " 

. Even vigilance and tbe best’-plan- 
Qing can only limit the posabffitSsrf 
terrorist success. New jaws and 
conns are not a panacea. . ■ - 

ALFRED £ DAVIDSON..' - 

: Paris. 


^Letters intended for publication: - 
should be addressed ^Letters la ihe 
Lanor ’ and must contain the; writ-. . 
ers signature, name and fuB ad- : 
dress. Letters should be brief and 
ore subject to editing. We cannot 
oe responsible for die'. titan.. of • 
unsolicited manuscripts.^ ; > V 


!i;g?r * 






INTERNATIONAL HERALD TRIBE NE. THURSDAY, NO\ EMBER 14. 1985 


Peres Dismisses Sharon, 
Igniting Cabinet Crisis 


(Continued from Page 1) 

U lUlroa tfoaJilkv*. Libor strate- 
S*st* «ii 

The confronuuon hecan buiki- 
M S Mondav night whea'Mr. Shar- 
op. in a speech in Haifa, accused 
tne prime minister of cynicism and 
craftiness in conducting secret 
peace negotiations without con- 
sulting his cabinet. 

He was referring to reports, de- 
nied by Mr. Peres but widely circu- 
lated, that the prime minister met 
secretly with King Hussein of Jor- 
dan last month in Europe. 

Through diplomatic mediation 
by the United States, he was said to 
have reached an informal under- 
standing with King Hussein that 
Israel would accept direct peace 
negotiations in an international 
conference if a Jordanian delega- 
tion included only Palestinians ac- 
ceptable 10 Israel'. 

Charging that Mr. Peres was 
"leading the government down a- 
crooked path without its ministers 
having any idea of what's going 
on." Mr. Sharon said of King Hus- 
sein: "This hypocrite from Amman 
receives almost daily compliments 
from Peres, despite the fact that the 


Reagan Gashes 
With Democrats 
On Arms. Deficit 

(Continued from Page I) 
to cut $25 billion to reach the target 
for the deficit, the House version 
would take 53 percent from the 
military and the Senate's. 47 per- 
cent 

■ New W arning on Debts 

The federal govern men L which 
has never failed'io pay its debts on 
time, warned Tuesday that no fur- 
ther financial maneuvers could be 
used to avert default if Congress 
did not break its impasse over the 
debt ceiling in the next two days. 
The New York Times reported 
from Washington. 

If the ceiling on government bor- 
rowing w a> not raised, officials said 
holders of several billion dollars' 
worth of Treasury securities would 
not receive interest payments due 
Friday and various federal work- 
ers. including military personnel, 
would not receive their pay. 

Default on Treasury securities 
could produce major disruption in 
the financial markets and could 
raise the cost of federal borrowing. 

"There's nothing in sight at all." 
an official warned, "to avoid 
checks bouncing on Friday “ 


PLO headquarters continue to op- 
erate in Amman." 

While Mr. Sharon long has been 
outspoken in his criticism of Mr. 
Peres's foreign policy, accusing the 
prime minister of attempting to im- 
pose Labor Parry designs of mak- 
ing territorial concessions in ex- 
change for peace. 

Mr. Sharon's latest attacks. La- 
bor aides said, appeared to be de- 
signed to force the resignation of 
Lhe coalition so that Mr. Sharon 
could try to become the leader of 
the Likud bloc. 

Mr. Peres lashed back Tuesday, 
obliquely referring to the trade 
minister as a "zealot" and saying 
that his remarks “exceed any possi- 
ble norm within the framework of a 
national unity government." 

Mr. Sharon defiantly repeated 
his charges, saying in a radio inter- 
view Wednesday morning that the 
"question of the style" in which he 
expresses himself was not as impor- 
tant as the issue of Mr. Peres's 
handling of the peace initiative. 

Referring to a widely published 
newspaper photograph of an Israeli 
who had been stabbed last week in 
Jerusalem. Mr. Sharon said. “We 
oil see shocking pictures of Jews 
lying with knives in their backs 
while we continue to conduct secret 
negotiations with Hussein when 
the headquarters of the murderers 
ore operating from his capital." 

Linder the September 1984 na- 
tional unity agreement, the prime 
minister cannot dismiss a minister 
front the opposite faction without 
the consent of the alternate prime 
minister. Yitzhak Shamir, the Li- 
kud leader, was to assume the 
prime ministership in the fall of 
1956. 

Under the current phase of the 
rotation system, this meant that 
Mr. Peres required Mr. Shamir's 
consent to dismiss a Likud minister 
if he adhered to the coalition agree- 
ment. 

However. Mr. Peres's aides said 
that under the "collective responsi- 
bility" provision of Israeli law. a 
prime minister has absolute discre- 
tion in dismissing a minister. 

Mr. Peres wax believed to have 
told Mr. Shamir that when there 
was a contradiction between par- 
liamentary law and the coalition 
agreement, the law would take pre- 
cedence. 


Mitterrand. Thatcher to Meet 

The Aa.Kiuioi Pms 
PARIS — President Francois 
Mitterrand of France and Prime 
Minister Margaret Thatcher of 
Britain are to hold their annual 
meeting in London on Monday. 


...r 




Pretoria Frees 4 White Activists 
Held Under Emergency Decrees 


The Aaocmed frw 

Snow falls as a Swiss soldier stacks sandbags at Geneva's Cointrin international airport as 
part of the security preparations for tbe Reagan-Gorbachev summit meeting next week. 

U.S. Informs Soviet of SALT-2 Plan 


(Continued from Page 1) 
missile defense and provide it to 
the Soviet Union “at cost." 

In the interview with British. 
French. Italian. Swiss and West 
German broadcasters. Mr. Reagan 
reiterated what he called "my 

dream" of what could happen with 
a strategic missile defense program. 

“We don't start deploying it," he 
said. “We get everybody together, 
and we say. 'Here it is. - " 

He added. “Now we think that 
all of us who have nuclear weapons 
should agree that we re going to 
eliminate the nuclear weapons. But 
we will make available to everyone 
this weapon. I don't mean we'll give 
it to them. They’re going to have to 
pay for it. but at cost." 

In what appeared to be a new 
statement of policy. Mr. Reagan 
said the United Slates would en- 
gage the Soviet Union in discussion 
of a nuclear-free zone in Europe. 
This proposal has long been advo- 
cated by the Russians and opposed 
by the United States and its Euro- 
pean allies. 

Basic military doctrine of the 
North Atlantic alliance holds that 


nuclear weapons are needed in Eu- 
rope to offset the advantage in con- 
ventional forces of the Warsaw 
Pact powers. 

White House officials did not 
respond to questions about wheth- 
er Mr. Reagan had made a new 
offer or whether he misspoke. 

Asked about his past reference to 
the Soviet Union as an "evil em- 
pire." Mr. Reagan replied that the 
Russians had referred to his admin- 
istration as “cannibals." 

"So. I think both of us have 
stopped that language, thinking 
that we'U get farther at the meet- 
ings if we come together to try and 
eliminate the need for such talk." 
Mr. Reagan said. 

■ U.S. Mentions Soviet Jews 

Bernard Gieertzman of Tfie \v w 
York Times reported from Washing- 
ton: 

A senior Reagan administration 
official said Tuesday that if Mr. 
Gorbachev allowed “a significant 
movement" of Jews and others 
from the Soviet Union, the United 
States would move to ease restric- 
tions on trade with Moscow. 

In a briefing for reporters on the 
human rights issues to be discussed 


by President Reagan with Mr. Gor- 
bachev next week, the official ruled 
ouL however, any concessions just 
for the release of individual Soviet 
dissidents such as Andrei D. Sa- 
kharov and Anatoly B. Shchar- 
ansky. 

He said the United States would 
not take part “in highly specific tit- 
for-tat negotiations." 

“It's going to be a matter of re- 
viewing the' total performance on 
the Soviet Union's part, and then 
making a decision on that basis." 
the official said. 

He said the United Slates was 
seeking an increase in the number 
of exif'isas for Soviet Jews and for 
the spouses of American citizens, 
as well as in the "release of persons 
from prison followed by their emi- 
gration from the country." 

The United States, he said, was 
also hoping for “internal improve- 
ments" in "the Soviet Union, but 
regarded this as a remote possibili- 
ty. 

Jewish emigration from the Sovi- 
et Union reached a peak of 512100 
in 1979, and dropped last year to 
5%. The figure for this year is run- 
ning only slightly above last year. 


By Alan Cowell 

.Vrtr ftirtt Tin id Sfmce 

JOHANNESBURG — The 

South African authorities have 
freed from detention the only four 
whites held under the slate of emer- 
gency that was declared almost 
four months ago. according to the 
parents of one of thosereleased. 

A fifth detainee. Ram Salojee, 
who is of Indian descent, was said 
to have been freed as well. 

The motive for the release re- 
mained unclear. According to fig- 
ures published last week, more than 
1.100 people, mostly blacks, are 
held under the emergency decree 
now in force in 38 magisterial dis- 
tricts. while 392 out of 1 .633 people 
held apart from the provisions of 
tbe emergency under the wide- 
ranging security legislation are still 
in detention. 

The story of the four whites, 
however, seemed to underline what 
political activists said was the dif- 
fering treatment reserved for dif- 
ferent groups of detainees. 

[Critics of apartheid said 
Wednesday that die five persons 
re main effectively “banned'* by re- 
strictions on their freedom to trav- 
el. attend public gatherings and 
publish. The Associated Press re- 
ported from Johannesburg. 

[Colonel L eon MelleL a spokes- 
man for the Ministry of Law- and 
Order confirmed that “conditions" 
bad been imposed on all five upon 
their rdease. It was the first time 
the government used the July 21 
state of emergency to authorize 
such restrictions on persons not 
facing criminal charges, he said. 

[Sheena Duncan, president of 
the Black Sash women’s ami-apart- 
heid group, commented: “This is 
another kind of arbitrary punish- 
ment without trial. If the govern- 
ment is going to use this very wide- 
ly on hundreds of people in 
detention, then it is more evidence 
that the government is seeking to 
crush all opposition.” Forma] ban- 
ning orders have been widely con- 
demned in the West.] 

The four whites were identified 
as Neil Coleman. Auret van Heer- 
den, Maurice Smothers and Simon 
Raicliffe, all detained shortly after 
the imposition of the state of emer- 
gency on July 21. Max Coleman, a 
prominent lawyer opposed to the 
system of apartheid, said his son 
was freed Tuesday with Mr. Salojee 
and the three other whites. 

According to those who have fol- 
lowed the detention of the whites, 
the four men were initially kept in 
solitary confinement, but,* after le- 
gal proceedings were begun on 
(heir behalf, they were permitted 
access to a prison store and were 
able to meet together for three 


hours a dav to exercise, pkiv .a- *«■ 
tennis and talk. The rest of the wr* 
was spent in isolation. 

The same informants, who de- 
clined to be identified, said tr.ai 
prison conditions were different lnr 
other detainees. 

Black men in detention, the in- 
formants said, were so numerous 
that it was impossible to keep them 
in solitary confinement and so had 
been detained together. They 
formed committees among them- 
selves to regulate their detention. 
the informants said. 

Women emerging from deten- 
tion, these sources said, had tolc 
friends that female’ detainees were 


lessrur*-* -■••• 
1-oU 

held. B-: 

a .t. ~ 

re-aul-t-''-"' 

toVur.:-' •' ' " 

lur U a C" ? v- 
towr.v.:.' ■ -■ 

have "C-T -‘ ; 

SeptcTT-rc: ' 

A.v.TC'i : ■ ■ 

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people ha J bv-v 
es:erze“cv o»v -- 
4. “24* of :iw • 
iejv.'C '..’.re 



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> \.f } ■ . 


Doe Is Said to Put Doim 
Coup Attempt in Liberia 


(Continued from Page I ) 

staff. General Henry Dubar. said 
that troops from Cuba and Sierra 
Leone had participated in the coup 
attempt, news agmeies reported. 
He also said that the rebels were 
armed with weapons made in Com- 
munist countries. 

The coup attempt was led by 
Thomas Quiwonkpa. who was Li- 
beria’s top military commander un- 
til 1983 when he fled the country 
after being accused of plotting to 
overthrow Mr. Doe. For several 
hours Tuesday. General Quiwonk- 
pa’s forces controlled Monrovia. 
They arrested several ministers in 
Major General Doe’s government 
and marched in tbe streets in the 
capital 

But by mid- afternoon Tuesday. 
General Doe broadcast on tbe gov- 
ernment radio that he was bads in 
charge and that the coup had 
failed. Fighting, however, contin- 
ued after his announcement and 
diplomats in Monrovia were uncer- 
tain who controlled the country. 

The whereabouts of General 
Quiwonkpa, a 30-year-old soldier 
who had helped General Doe over- 
throw Liberia's government in a 
1980 coup, remained unclear 
Wednesday night Tbe government 
radio repeatedly broadcast a state- 
ment saying that he was being 
sought and would, be detained. 
Government officials said in Mon- 
rovia that 15 rebels bad been ar- 
rested. 

The coup attempt came two 
weeks after General Doe was pro- 
claimed the winner of a presiden- 
tial election that be is widely be- 


lieved to h.txe -w-u : ‘;’ 1 ” 

widespread reports . s r - 
violation*. 

Lnrifuij' .oie 
firmed bv Western .up • ^ 
showed that the - 

was the tdudiuifl-: ~ ‘. J ' 

Action Parts. Jack.--’ ■" . 
is not related to Gcr ~..>. , 

General Dubar nuKid -nat ■ ri - 

monbers of liiv L.K * 

Partv might have been ir’v.v.A: 
the coup attempt, a* feeding 
news agency report - 

The U.S. diplomat -aid wav 

not known if ar.v rvir-Kt* of the 
opposition party h.u beer arrevtol- 
Repeated telephone caii 4 WeJncs- 
dav to the honur* of Mf-erul mem- 
bers of the Liber a Jl Action l* 4 rtv 
went unanswered. 

General Dubar said that aft** 
General QUMwinkpa'* rebel* hau 
rounded up sever, il xentoi nnni*>U*r* 
and taken them to an arms >uvk- 
ade in the center of Monrovia thei 
rebd leader lcwt contact with hi* 1 
saOiary support. Soldiers loyal i<> 
General Doe then broke into the : 
stockade and released all the mini*- 
lera as General Quiwonkpa HeJ. 
acconfing to General Dubar . 

For many years, ibe United 
States has been the dominant oily 
and aid donor to Liberia, a country 
founded 138 year* ago hv freed 
American slaves, it fuuntvs about , 
one-thind of the country's annual ' 
budget, buttharnxrilaiux must he ! 
withdrawn, under congressional 
order, if the State Department dc- 
teraines that Taat month's election 
was am iftee and fair.** 


\ l 






■ 


Page 6 


INTERNATIONAL HERALD TRIBLNE. THURSDAY. NOVEMBER 1*. 1985 


SCIENCE 


Computer Models Unravel Mysteries of Jupiter s Red Spot 

* c-l. r..,«ih P. Williams, a research me- .The spin produce a strong Con- Aeen-ImUMI 


By James Gleick 

AW York Times Scmce 


T HE Great Red Spot of Jupiter 
is yielding iLs mystery to a new 


shape as long as the planet keeps 
spinning. 

The Great Red SpoL a cosmic 

_ .. landmark since the first Lelescopes 

approach by physicists and raeteo- wealed it 300 years ago. has baf- 
rologists. fled generations of scientists by 

Gone now are the volcano the- standing mostly in place and revis- 
ory, rhe egg theory, the planetoid ing to disappear. Specialists in the 
theoiy, the eolumr.-of-gas theory, study of dynamical systems, or 
the hurricane theory. Scientists “chaos,” believe that their findings 
have concluded that the Great Red will help them understand how or- 
Spot is a gigantic eddy of swirling der can emerge spontaneously from 
gas. driven by turbulent winds and natural chaos, an understanding 
apparently capable of keeping its that may help penetrate the com- 


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plex patterns of weather on Earth. 

Computer simulations by a Har- 
vard University astronomer and 
mathematician. Philip S. Marcus, 
show that a Red Spot-like vortex 
arises on its owe in a rapidly rotat- 
ing system. “like a Phoenix out of 
the ashes.” 

“It is a large-scale coherent 
structure sitting there happy as a 
clam amid all this turbulent cha- 
os." Dr. Marcus said “ft lives by 
cannibalizing." When smaller ed* 
dies develop in Jupiter's atmo- 
sphere. the Red Spot tends to suck 

them in. .. ... 

The Red Spot. 25.000 mite (40 
kilometers! wide and big enough to 
cover the surface of Earth, barely 
moves. Astronomers have long 
sought to find an explanation that 
would tie it to some feature on the 
planet's surface. Early in dus “{*“ 
turv. some theorized ihat it might 
be "the eruption of a volcano 
acknowledging, however, that it 


Gareth P. Williams, a research me- 
teorologist at Princeton's Geophys- 
ical Fluid Dynamics Laboratory, 
one of several other scientists in the 
United States and Great Britain 
who have devised computer models 
to explain the spot. 

If the Red Spot can be thought of 
as a kind of weather phenomenon, 
it is well outside the menu of things 
brewed on Earth. Hurricanes and 
other Earthly storms draw energy 
front the ocean, and they tend to 


The spin produces a strong Cori- 
olis force, the sidewise force that a 
person can feel when walking 
across a spinning merry-go-round. 
It is the Coriolis force, ultimately, 
that is believed to drive the spot; 

In an earlv version of the mode! 
devised by "Dr. Williams and a 
Princeton University colleague. R. 
John Wilson, the spot seemed to 
have a lifetime of about 10 years. 
An improved version produces a 
spot that seems to last indefinitely. 


the eye — I could see physics that 1 
hadn't been able to see before." 


. More and more, physicists and 
mathematicians are intrigued by 
the implications of such orderly 
patterns arising out of chaos- "This 
is a hot topic now for research." Dr. 
Marcus said. “How do you gel 
small-scale., wildly chaotic flows 
with quite robust large-scale struc- 
tures superimposed on top of 
them?" 


I corn me ocean, ana inev wnu w : — . . 

break up and dissipate. Their rota- Stronger vornces tend to abwb 
Son is cyclonic - counterdock- wt^eroncs. m what Dr. J-iHuuns 
wise in the Northern Hemisphere. ^ nb€S » 
clockwise in the Southern. One way or 

On Jupiter, the weather appar- ists mcel.v with the turbulence 

ently behaves differently. Scientists around il 
say the Red Spot is an anticyclone. la the ^ j, ISl 

relating in the opposite direction, cus. the spot seem, not just stable. 
e but inexorable. 

The computer, using the same 
basic fluid equations that physi- 
cists use to describe the flow of 
water and air. produces graphic 
pictures that Dr. Marcus assembles 
to make a short movie. In some 


IC'ldUiif . — 

Its motion has nothing to do with 
moisture. It shows no tendency to 
slow down or break apart. And. 
perplexingly. there is just one. 


.A. LONG with the dose-up Voy- 


Eanh’s atmosphere has nothing 
that resembles a big. stable, anti- 
cvclonic flow, but scientists see 
parallels between the Red Spot 
findings and some long-lived pat- 
terns in the chaos of Earth's weath- 
er. Weather forecasters are intense- 
ly interested, for example, in a 
nbtinomffntfn known sts blocking, in 
which a system of high-pressure air 
tends to sit relatively still for weeks 
or months, in utter defiance of the 
forecasts coming out of the meteo- 
rologists' computers. And oceanog- 
raphers are trying to Hgure^out 


would take a huge volcano, even by x iLU nu ^ , -v l0 make a snon movie, in aymv -- Jn ,T, e Gl 

Jovian standards. ager pictures, scientists have teen xmaiios small whirls bora of wme odd 

Red Spot where none existed. In- 
deed, the system does not reach a 


rvuai. i» tui-cr-D . .. , ■ j r 
picture of an other-worldly kind or 

weather. 

The new understanding of the 
Red Spot began with the pictures 
made in 1979 by the Voyager satel- 
lites. Astronomers saw. in spectac- 
ular detaiL a hurricane-like system 
of swirling winds, shoving aside the 
clouds, embedded in zones of «ist- 
west flow like horizontal stripes 
around the planet. 

Scientists now believe the hurri- 
cane description is inadequate. One 
problem is that hurricanes are. cos- 
mi cal ly speaking, short-lived phe- 
nomena. "It’s a simple-minded, 
old-fashioned explanation, said 



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oiques developed in the last few 
years for the study of chaos. 

“What Voyager really did was 
show us things that were too small 
to be seen from the Earth.” said 
Andrew lngersoll of the California 
Institute of Technology, who 
helped develop the new approach 
to the Red Spot. “That was quite a 
surprise, because when we looked 
at scales too smalL we saw chaos — 
disorganization, rapid changes, 
things completely altering their ap- 
pearance in a day. Seeing all this 
chaos and disorder made the whole 
question of the long life or the Red 
Spot even more mysterious." 

Some deputes continue among 
proponents oF various computer 
models of the phenomenon. Meteo- 
rologists and physicists, for exam- 
ple. tend to look at the question 
from different perspectives. “It’s a 
very contentious field,’ Dr. Wil- 
liams said, “but I think that the 
problem is basically solved now. 

The physics of the Great Red 
Spot appear to be no different from 
fluid physics on Earth: Newton’s 
laws apply everywhere. But the fa- 
miliar processes have an unfamiliar 
context — Jupiter is not just a big, 
cold Earth. 

An observer standing on Jupiter 
would, first of alL have no place u> 
stand, since the planet has no solid 
surface. In contrast to the Earth’s 
atmosphere, a relatively thin enve- 
lope, Jupiter's atmosphere is virtu- 
ally the whole planet, a mass of 
very dense gas. hydrogen and heli- 
um — almost resembling a small 
unlit star. And it rotates with im- 
pressive speed. The Jovian day 
flashes by in 10 hours. 


little wave, which becomes a kink, 
which becomes a ring, which twists 
off from the main current. 

Other systems display apparent- 
ly similar Whavior. “If you look at 
turbulent flows, or chemical reac- 
e uns cnec&crDuiuu ^ . lions, or a lot of problems in chaot- 
out and then one spot ic systems^ you see these coherent 
■’Dr Marcus said. “You structures, smd Hany L.Swinney. 


state of equilibrium — the state of 
lowest energy — until a Red Spot- 
like vortex develops. 

“You see this checkerboard sum 
to smear 
comes out. 


cun amaze ycu, cnennes. aud aa- “JESS'S 


tound your friends with these pic- 
tures. But it's not only pleasing to 


Texas. 


Ozone Depletion Called 
Faster Than Expected 



! .«5 

■ v*v 


By Walter Sullivan 

/V«!w York Tut usa Smite 


g ATELLITE observations have 


_ confirmed a progressive deteri- 
oration in Earth’s protective ozone 
layer above Antarctica, according 
to scientists who analyzed data re- 
cently sent back from space. 

Each October, the data show a 
“hole” appears in the ozone layer 
there, scientists say. and each year 
the layer in that area becomes less 
able to shield the earth from dam- 
aging solar ultraviolet rays. 

Since 1974 scientists have been 
predicting a gradual depletion of 
stratospheric ozone as a result of 
increased pollution of the atmo- 
sphere. Hie new findings have per- 
suaded some researchers that the 
ozone loss is proceeding much fast- 
er than expected. 

It has been predicted that a sig- 
nificant depletion of foe ozone lay 


actions that produce stratospheric 
ozone are stimulated by a form of 
ultraviolet radiation that becomes 
weak .when sunspots are fewest. 

Nor is it clear. Dr. Heath said, 
whether the antarctic readings 
"manifest a local change in atmo- 
spheric circulation, rather than a 
global depletion. The condition of 
the winter atmosphere over Ant- 
arctica is not matched anywhere 
else. The atmosphere, immersed in 
the polar night, remains highly sta- 
ble and becomes extremely cold. 
Then, when spring comes to the 
Southern Hemisphere about Octo- 
ber, it is suddenly bathed in sun- 
light and. it is hypothesized, ozone' 
depletion runs at full speed. 

According to observations at 
Halley Bay in' Antarctica, “compa- 
rable effects should aot be expect- 
ed in the Northern Hemisphere 
where the winter polar stratospher- 


Day 6001 


Gtw^uVK woM by oar* Hi Wttom, cad R. J«*r WIwb 

Computer simulations show how a vortex of whir^g ^ 
caii form over a period of time from small perturbations. 


IN BRIEF 


Multiple Sclerosis Que Discovered 

NEW YORK (API — Researchers have discovered a virus i^blood Md 
brain fluids from multiple sclerosis patients in SwedM^dFlor^^at 
they say rairiit be a cause of the disease. The virus, which has nm been 
identified, issimiiar to HTLV-l, a vims that causes an unusual form of 

h '^Mdtipie* sderosis attacks myefin, a kind of insulation sunounding 

electrical nerve fibers, and causes the hardening or 

cells Details of the research are being published urihe British journal 


N ' Elaine DeFreitas. an immunologist at the Wiaar Institute' 

nificant depletion of the ozone lav-- 

^j J d C ' s F 2 J SiSSffS S^atd S 'percent of the patients we\e looked at" 
nrtrm.il conditions. however. 1 r • 


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when you can a fiord Re my Martin. 










C F 5u.:v 
,rr !. \ I 


CM 


X o 


under norma! conditions, however, 
the ozone layer is subject to wide 
variations, and whether the recent 
depletion is part of a long-term 
trend is difficult to establish. 

The satellite measurements indi- 
cating a rapid decrease over Ant- 
arctica have been made by two de- 
vices riding the Nimbus-7 satellite, 
which was launched in 1978. Don- 
ald F. Heath of the Goddard Space 
Flight Center in GreenbelL Mary- 
land, who for several years has 
monitored the recordings, said last 
month's data indicated that the de- 
cline was continuing. 

In his view, however, the reason 
for it remains uncertain. It was first 
blamed on sulfur compounds and 
other particles ejected into the 
stratosphere by the 1982 eruption 
of El Chichon in Mexico. 

This explanation was also ad- 
vanced by H. U. Dutsch of the 
Federal Institute of Technology in 
Zurich, based on ozone measure- 
ments in the Swiss Alps. 

The measurements there, as at 
numerous other ground . stations, 
are based on recording two wave- 
lengths of sunlight. Ozone absorbs 
sunlight at one of the wavelengths, 
so the relative strength or the two 
wavelengths is an indication of how 
much of the gas is in the atmo- 
sphere. The 1983 average was the 
lowest in 60 years. If that was en- 
tirely caused" by material from El 
Chichon, the level should be re- 
turning to nonnaL but il is not, said 
F. Sherwood Rowland of the Uni- 
versity of California at Irvine. 

Dr." Heath, however, said there 
were other possible explanations. 
The decrease could be linked to the 
sunspot cycle, now near a mini- 
mum. According to a study by 
NASA scientists, the chemical re- 


British journal Nature. 

Fluorocarbons. long, be- 
lieved to be the culprit in ozone 
depletion, are responsible for the 
newly observed loss, scientists of 
the British Antarctic Survey con- 
tend, based on observations con- 
ducted since 1957 at Halley Bay. 
Dr. Rowland, who with Mario J. 
Molina and Harold Johnston, first 
warned of such a danger in 1974, 


AMA Gives Saccharin a Green Light 

CHICAGO (UPD — Saccharin, which the Food and Dmg Adminis- 
tration tried to ban in 1977 because Canad^studi^ hnked it to bladder 


S humans, the American 

oKevcral other species. includiM hun^iOi^e 
showed no link between saccharin and cancer of any kmd, the AMA 
Council on Scientific Affairs concluded in a report in the Journal of the 

^However, the AMA is not implying that “ 
saccharin." the report continued. il urged careful conodoation of use by 
children and pregnant women, monitoring for possible adverse effects in 
all users and a continued search for an “ideal" sweetener. 


agrees. , . 

In 1980 a committee of the Na- 

duded tiSiepr^ecied ozone de» JJedpailS FattllltO Official DisfaVOr 
ultraviolet nuSauon, ™rt as rWPV — A recent study by health professionals a 


a* 


. could in 

crease skin cancer, curtail crop pro- 
duction and destroy the larvae of 
some marine orgimisras-.A 16-per- 
cent. ozone reduction, it said, would 
probably produce thousands of 
cases a year of melanoma, the most 
lethal skin cancer. 

In 1977 a ban was imposed on 
fluorocarbon 5 as spray-can propel- 
lants, but it became evident that the 
ozone, varies in response to a vari- 
ety of interacting natural and hu- 
man influences. By 1984 an acade- 
my report estimated ozone 
reduction, due to fluorocarbons, at 
only 2 percent to 4 percent. 

Art annual 20-percent increase in 
the atmospheric content of bro- 
mine compounds that also endan- 


D ALLAS (WP) — A recent study by health professionals at the 
University of Texas Health Science Center here concludes foal -nhere 
simply is no need (for most patients) to use a bedpan rather than a 

bedside commode.” . _■ i__«. 

A nurse clinical specialist, Lynda Lane, and her coauthor, Elizabeth 
Winslow, director of nursing education at Methodist Medical Center, 
drew the conclusion from a study of 95 people, including healthy 
volunteers, general medical hospital patients and 26 people recuperating 

from heart attacks. . ' . .. . 

Tests showed that using the bedpan raised heart rate, blood pressure 
and oxygen consumption far more than using foe commode, contrary to 
beliefs 100 vears ago when foe bedpan was introduced to conserve a 
convalescing patient's energy. Bedpans are still foe device of choice for 
patients in traction, however. • 


Features in Earth’s Interior Charted 


LONDON (NYT) — British researchers have charted features of the' 
Earth’s interior to a depth of almost 70 miles (1 13 kilometers) beneath the; 
sea north of Scotland. Using shock waves and receivers towed underwater 
kokinri 9 w-niY-h vKKftl rhev helievv thev have traced “the deepest and 


endan- — - — . 

■“7 h _ h-m renort- behind a research vesseL they believe they have traced the deepest and 
ger the ozone l ? yer has been report ^ stnjcwres in the upper mantle.? 


ed by a group from foe Max 
Institute for Aeronomy in landau. 
West Germany. Their inslrumems 
were lifted 15 miles (24 kilometers) 
above southern France by balloon 
in the autumns of 19S2, 1983 and 
1984. Production of such com- 
pounds appears to be increasing 
rapidly. 


a 1 


K tMYMARulN 

■_SiQr.N a.- 


%a) Jeumpe 1 




liTi.'XDT* tTifl 




PLflCK (\m PLME 




$80- U THE PRICE OF A sure- 

UOR XO.THJE PUCE OF AN XO 
COON AC MADE EXCLLSIVU.Y 
FROM ORAPfiS CROWN I*. 
(CS TUO BEST REGIONS. 
S>-^LA GRANDE AT.TJ LA PTfrtt 
CHAMPAGNE. BY OFFICIAL 
DECREE. ONLY SUCH A COGNAC 
HAS THE RIGHT TO BE CALLED A 
FINE CHAMPAGNE COGNAC. 


uai Luuuituvtu ouuwLtuvj uuu^w A** .mm. .— ■ : 

The mantle is foe region of the Earth beneath foe crust and surround-, 
ing the liquid core. Its boundary with foe crust is foe “Moho,” ot; 
Mohorovicic discontinuity. The Cambridge University group's most 
exciting discovery, according to a report in the journal Nature, is a feature 
sloping down to the east, designated “the FI aim an thrust-” 

It originates in foe lower crust, cuts through the Moho and may -extend 
beyond the depth of foe survey. It lies in a irahsitioQ zone between tb< 
con linen lal -type crust of Britain and that typical of the North Sea. It 
could have formed, the authors suggest, as a result of compression during 
the collision of North America with .Europe several hundred million years 
ago. or by subsequent tension as foe two land masses pulled apart. - 


Operation for Stroke Called Useless 


BOSTON (AP) — A brain operation that has been performed on- 
stroke victims for nearly two decades is virtually worthless and may even 
do more harm than good, a.S9-mfllion, nine-year international study, 
concludes. The extracranial-intracranial arterial bypass joins an artery 
outside the skull to one on the inside to. reroute blood around narrowed, 
bloodvessels. 

Dr. H. J. M. Barnett, a neurologist at University Hospital in London, 
Ontario, who directed foe study, estimated that the operation was 
performed on about 5,000 patients a year worldwide! “It’s disappoint- 
ing,” he said of the results, published- in the New England Journal of 
Medicine. *‘U was a procedure that showed promise." 

Dr. BarneLt said the operation might still be useful for. some patients * 
with aneurysms, weak spots in artery walls. Otherwise, he predicted; it 
will be largely abandoned. The study, financed by foe U. S. National 
institute for Neurological and Communicative Disorders and Stroke, was 
conducted in North America. Europe and Asia.. . . * 



Mr 







‘iv *rs 





















‘t . 

ri.. 




Research Gains in Leukemia Battle 


THE XO COGNAC by REMY MARTIN 

Exclusively Fine Champagne Cognac 


ROTTERDAM (Reuters) — New techniques in foe fight against, 
leukemia, including better use of medicines and an improved method of i 
bone marrow transplantation, have led toa rise inthe percentage of cures,' 
according to doctors mid researchers at ah international symposium here* 
on acute leukemia. 

Anton Hagenbeek, a leading Dutch hematologist, said cancer cells that- 
had previously remained invisible in the blood after treatment could now ., 
be detected using laser technology and. certain antibodies. This was a 
major .advancc,^ '-since such cells often cause' foe disease to. recur, be said. 

The chance of a cure for children under 15 with lymphatic leukehua has 
risen to 70‘ percent 'from .50" percept three years ago t reports at foe* 
conference said, while the-chance of a cure for adults rose from 15 percent 
to 40 percent. 


■gf. 


• SUGGF5TCD RET AIL PRIt’E IN TH«. l ! 5 A. MM* » « • I3P«HTM MAV « 
















* 


• INTERNATIONAL IIERAIJ) TRIBUNE, THURSDAY. NOVEMBER I k 1985 


Page 7 




Wkww ■ " 




Mitchell Maria Eugenia fcsos Sanchez, Ana Rrairia Paulin Dominguez, Monica Paz Rodriguez, Isabel fcnaloza Moreno, Jorefina fcch Austin, Silvia Pedroza Menabrito. Javier Feimberc Marquez, Jaime Perales Hernandez, Carlos Perera Lopez, Manuel Jesus Perez Castro, Victor Perez Cervantes, 
Edmundo Perez de Cobos, Rodolfo Perez Gonzalez, federico josc Perez Herrera, Viaor Manuel Perez Mendoza, lleana Araceli Perez Morbcn. Luz Ma. Perez Noriega, Celia Perez Sanvicente Ruiz. Patricia Pemisquia Marunez, Arnulfo Picasso Rivera, Jose Luis Pimentel Arroyo, Ismael Pimentel 
■ . Garcia, Gisda S. Pincdaftregrina, Elvira. Pinillos Lopez feliza, Bcatriz Pinillos Lopez Paliza, Juanita Pintos Cleared, Sand? G. Pique, Francisco E. Porras Galindo, Margarita Porrillo Castrejon, Jorge Prado Suarez, Hugo Armando Prado Suarez, Jorge Pratz Castaneda, Esther Maria Pujol Ortiz, 
Lucia Pulido Jose Antonio PulidoToires. Alejandro QucvedoSequi . Carmen Quezada Gomez. Erendira Quinones Benitez, Amelia Quintero Cruz. Emm? Alicia Rabiela Pineda, Francisco Ramirez Balderas, Raul Ramirez Hernandez. Guadalupe Ramirez Marunez, Laura A. Ramirez Meza. Hugo 
Ramirez Rodriguez, Jesus Ramirez \fcli. Clara Ramos Dafonseca, MonicaP. Ramos Lcos, Aracdi Rangel Garcia, Carolina A. Rangel Serralde, Florencia L. RayaGamino. Roberto Recillas Salcedo, HJvia C. Renteria Garcia, ftdroRerureta Gutierrez, torfmo Reyes Casasola, Mirna A. Reyes Meza, Jorge 
■ Reza Tbnes,’Albcno Rico Lopez, Ma. dc Lourdes RicoVdrierra, Magdalena Riojas Gonzalez. Rosa Maria Rivas Garcia, Mario R. Rivas Gonzalez, Mario Rivera, Irma Rivera Moreno. Nazario Rivero Espindola. Jose Rafael Robles Gaytan, Gloria Robles Martinez, Angelica Rodriguez Leon, Maximino 
RodriguezEscalanic, Gabriel Rodriguez Maya, Cristina Rodriguez Marenco, Ma. Teresa Rodriguez Garay. Magdalena Rodriguez Arana, Ma. Crisrina Rodriguez Ortiz, Felix Rodriguez Lopez, Alfredo Rodriguez Espiria, Carlos R. Rodriguez Lozada, Javier Rodriguez Juarez, Ma. Eugenia Rodriguez 
‘ . Lagojosefina Rodriguez Amado. Carlos Octavio Rojas Arana, Felix Rojas Martinez, Crisrina Romero Remus, FrandscoJ. Rosales Morales. Monica Rossette Quintanilla. Rebeta Rubio ftrimberi, Hans Ruiz Becerra, Fausto Ruiz Calieja. Ruth M. Ruiz Inchaurregui, Adriana Ruiz Inchiurregui, Ma. 
Teresa Ruiz Mariscal. Ma. Luisa Ruiz Murillo, Rosa Maria Ruiz Ocampo, Irma Dolores Ruiz Torres, Georges Edmon Saade Ghosn, Ma. Gloria Sagasregui Rodriguez. Lilian Sainz Concha, Duke Maria Salas Barcena, Carlos Salazar Castro, Alma Rosa Salcedo Ramirez. Salvador Salgado Roman, Jose 
■: Alvarez, Sabino Salinas Quiroz, Rafael Salinas Romero, Mario Sahncron Manzanaxcs, Daniel Salomon Crista!, Ana Saltiel Mechulan, Jorge Sales Calieja. Ana Maria Sama Gonzalez. Leticia Sampcno Medina, Lazaro Sanchez Angeles. Roberto Sanchez Barrios, Eva Sanchez Galiote, Mario 

■ - v'v_ Sincbcz Lopez, Jose laiisSancbezManincz, Jose Miguel Sanchez Resendiz, Martha Lidia Sanchez Rodriguez, Ma. de la Cruz Sanchez Ruiz, 11 riel Sa nehez Valenzuela, Alicia Sandoval Garcia, Ana G. Sandoval Gutierrez, Jorge Santamaria Santaraariajose Santiago Croz, Ricardo Santiago Oncsimo. 
Dctfino Santiago Trinidad, LuisJorgc Sarabia Mendoza, Ruth Schaumann Gocring, Jose Luis Segundo Lascano, Celia Segundo Lazcano, Angel Fernando Segura Salazar, Eduardo Serrano ftraJes, Lucila Serrano Picazo.Javier Servtn Almeida, Ian A. P. Shaw Dysan, Patricia Shields %Jdovinos, Sumi 
. Shioki Escalante, Adrian Silva Britojose Luis Siqueiros Tworney, Vidor Solis Orriz. Monica Solis Tellez. Maria del Pilar Soria Car bo, Laura Patricia Sosa Caso. Felipe Sosa Olvera, Thelma Lilian Sosa Pineiro, Felipe Soto Alcantara, Luis Spencer Ponton, Alejandro Stone Martinez. Regina Straus 
‘V; . Rosales. Leticia SuareiGomez, AngebSuarcz Moreno, Alfredo Suarez Solis, German Suazo Torres, Delia Rebeca Swain Llamas.JuanTalavera Ibarra, Jose Luis Time z Miec, Samuel Tapia Rovelo, Hector Tapia Saldana. Ignacio Tenorio Praxedis, Maria Teresa Terrazas JuncoJose Ricardo Toledo Trejo, 
i ■ ■ ., Ma. L Tblcnrino de la Garza, Jose Raymundo Toral Chavez. Ma. Esther Toriello Najera, Alejandro Torres Aguirre, Juan Manuel Torres Castillo, Jaime Amador Torres Corona, Luis A. Torres Navarro, Jose Carmen Torres Olvera, Armando Torres Rios, Raul Tovar Luna, Lilia Esiela Tovar Rodriguez, 

; Rocfo D. Trejo Flores Caso, Raul Andris Trejo Ocampo, Guillermo Trejo Vtncosa. Horrencia Trevino Casrillo, Leticia Urbina Alvarado. Margarita Uribe Lopez. Ulises Urueta Alejo.Jose Antonio \fcladez Sanchez. Rafael Valdes Castillo. Maria Luisa toldes Lopez. Juan Vddespino Aguilar, Ma. de 
f: ■_ . Lourdes VUdez Ortiz, Fauaino \kldivia Contreras, Yolanda %lenda Carranza, Fro. Xavier \kkro Ravon, Jose Ma. Valle Escamez. Filibeno Valle Salgado, Carolina Varela Loaiza, Miguei Wipe Vargas Cones, Santiago Vargas Jimenez. Robeno Vargas Martinez .Jorge Vargas Rangel, Jorge Vugas 

CV , Rodriguez, Alma Virgina Vargas Rojo, Alfonso Vargas Solis, Albertina V. Vazquez Cones, Alejandro Vazquez Galindo, Gloria Elena Vazquez Mora. Julio Vazquez Rivera, Antonicta Veale Sanchez, Herlinda Vega Ramirez, Luisa Amparo Vfclarde Puch, Manuel Wasco Espinoza, Carlos Arturo 
~y \ttsco Murioz, Ooesirao Vfelasco Napdes. Julieia Vblasco Paramo, Ramon Fro. MUfizquez Carabero, Salvador Vfclazquez Vfclazquez, Guillermo Velazquez Lopez, Armando Velazquez Reyes, Ricardo Velazquez Gonzalez. Laura Verdeja Gomez, Prudencio Vergara Cuevas, Alejandro Villanueva 
J;- .. •" Leon, fcraando Villanueva Moreno. Ma. dejesus Villaneal Gutierrez. Patricia Villegas Hernandez. Sergio Villegas Zepeda, Angelica Vice Villamzr. Miguel Angel Viveros Rosales, \tronica Vizcarra Esparza, Silvia G. Worm Berman, buro Yescas Perez Joel Zaletas Navarro, Robeno Zeuna Diaz, 
£l. : Ma. de Lourdes Zozaya Delano, Mario Zuniga Gutierrez, Conception Zuniga Ibana. 

Thank you to the 701 people in our Mexico City offices. 

Ybu upheld one of the great traditions of American Express. 

Reekie helping people. 

Wb wrote this letter of thanks to our employees in our Mexico Gty offices for rising above and beyond the call of duty during the recent earthquake. 


At American Express, we have a tradition of being there when we’re needed. A 
tradition that goes back nearly a century and a half. And we think it’s important to 
thank the people who have continued this tradition. People who have gone above 

and beyond the calf of duty. 

Like Connie Flores, who Visited her stranded Travel Service clients at their 
hotels, twice a day, helping in any way she could by arranging transportation to air- 
ports and rearranging flights. . 

And she wasn’t the only one. While Connie was busy doing her part, others 
were busy doing theirs. By providing a block of rooms for American Express 
Cardmembers. By setting up a temporary office at the airport. By replacing lost 
American Express® Cards and Travelers Cheques. And by paying a personal visit to 

many hotels to make sure the 

Travelers Card continued to be wel- 

__ Cheques corned throughout the crisis. 



> Cup,*"}* Travel Si""* 1 "' C<W, I’M MVBi 


And people at our Coral Gables office operated a telex 24 hours a day. Enabling 
scores of people to learn whether their friends and relatives were safe. 

American Express has many times bailed people out of trouble when there was 
no one else around to do it. When war broke out in Europe, both in 1914 and 
1939, we got stranded travelers out any way we could. And back in 1933, when the 
U.S. Government closed the banks, we stayed open. Cashing Travelers Cheques 
and honoring Money Orders. 

Our employees have long been known to go out of their way for people in 
need.Why just recently, one of our tour guides in Paris chased ail over the city on her 
own time to find a diabetic woman who had left a purse 
containing her insulin on the bus. 

The backbone of American Express is people helping 
people. And we'd like to thank those people who uphold 
this marvelous tradition. 



ITRAVEL 
RELATED 
SERVICES 

An American Express company 





ii- S.wfiilWas-'-— " ■ 





INTERIM \TlO\AL I IKK U.l> TKIBl NB. Till ltSI)A\. NOVEMBER .14. 1985 


NYSE Most Actives 


BeatCo 

BaxlTr 

FordM 

CWOPdl 

BnkAm 

IBM 

AT AT 

MerLrn 

Mo«r 

AalfiLt 

Black D 

FedNM 

Johrun 

Phi l PM 

SouthCA 


v«, 

High low 

UNI 

CJia. 

30408 

45% 

44 * 

<5% 

+1 

I9B28 

13* 

12* 

13'* 

+ '* 

1/301 

49’u 

47X 

49 

+ * 

1 15141 

30* 

X 

30% 

— % 

14084 

IS* 

14* 

15X 

+ % 

14042 

135% 

131% 

134* 

— % 

1*04 

21* 

21% 

21% 

— % 

1 11998 

33% 

32* 

32* 

+ % 

1 1051 

67* 

41% 

41% 

—IX 

10187 

52* 

51% 

52 Vk 

+ % 

9355 

20* 

19% 

20 

_ * 

93)5 

8129 

24% 

49% 

23% 

46* 

2 Vi 

49* 

— * 

8113 

13% 

11 

13 

— V, 

8095 

81% 

21% 

21% 

— Ik 


Dow Jones Averages 


Open 


H loti 


Lent CM. 


Indus 14IU8 M»39 I419J8 1437.75- IM 

Trans MUM 68*. ID 67* JS 679£- *Sa 

Ulil 16501 1*5 78 1*337 14680 — DJJ 

Como 578.95 58135 57153 576J3 - 2J1 


NYSE Index 


Composite 

Industrials 

Transp. 

UlililiM 

Finance 


previous Toaar 

HMh law Ctete 3 PAL 
«*» 11177 1UJ3 IK.H 
130*7 130.16 130.70 130J6 
10* JB 108*1 108.91 108.53 

|9jl 39.16 39*1 S9J7 

12649 12358 IW03 17177 


Dow Jones Bond Averages! 


BonOS 

Ulllilles 

industrials 


Close 
81.19 
79 J6 
8192 


8147 

nsi 

B137 


NYSE Diaries 


Close ptw. 


Advanced 
Declined 
Unchanged 
Tarot issues 

NM HlBtO 

New Lows 


58* 

1024 

<31 

2039 


9* 


II 


111* 

56* 

380 

20*2 

199 


Odd-Lot Trading in N.Yi 1 


Nov. 12 . 
NOV. 11 . 
Nov. B _ 
Nov.7_ 
Nov. 6 . 


But Sola 
25*318 5977)06 
2017198 415037 
158085 419.558 
156JS5 427 J24 
173,104 *49046 


“Included In the soles figures 


•ShVt 
7J2S 
Wj*7 
6.180 
1,1 CM 
16JI7 


\Wsiesdaji 



dosing 


Vttt.MIP.M- 


U4MH 

M7A50M 


Prev.3PJM.VOL_ 

Prev consolidated dose 201,121950 


tables include the nationwide prices 
up to the closing on Wall Street and 
do not reflect late trades elsewhere. 

k'ia The Associated Press 


1 AMEX Diaries 


Advanced 
Declined 
Unchanged 
Total Issues 
New H tahs 
New Lows 


26* .. 315 
297 276 

es 3 

M t Vs 



composite 

lndustno'5 

Finance 

insurance 

UHlIfM* 

Banks 

Transp. 


Close 

30132 

ana 

37679 

2714* 

sa» 

2705* 


Year 

Noon Aoa 

3030* 29525 

30442 2K1 

— 391® 

3*142 

— 317JI7 

3**7* 


Aoa 

24744 

2*6.07 

29144 

275® 

227.17 

21.31 

235.93 


Standard & Poor's Index 


■ Previous Today 

NM Low Close 3 PAL 
industrials 22038 21849 21943 21*1? 

Transp. 17U3 176.11 17751 17&70 

Utilities HA 87.22 BUB 87 JD 

Finance 2627 2*02 24.12 2600 

Composite 17144 19*57 19MB OT5B 



3 P4A. volume 

Prrv.aP.M.v"*""* 
Prov. eons, volume 


7.150000 

&U 

9/t 


[ AMEX Most Actives. 


VOL 


Hbfl LOW LOB 09. 


DomeP 
BAT in 
nmeGn 
TtkAir 
AM HIM 
WongB 
EchoB a 
ChlMAS 

Amdoni 

IrirpO'l o 

WtekM 

KevPti . 

WOiflltl 

MVTimes 

ICMS 


7% + ?. 

4% + V* 




12 Mown 

High Low Stock 


Sh. Dose 

DtV. VM. PE HBl High low Quct.OlVe 


24 15 
14 


2X0O A7 
32 13 
2.72 104 


638 11 JT 

.16 4 8 

38 1J 22 
.7* 24 13 
40 12 48 
I JO 33 13 


24% 1* AAR 
IB* **■ AGS 
14 93* A MCA 

SO* 293* AMR 
134k 73k APL 

139k 9 ARK 

*1% 321* ASA 
77 10* AVX 

284 193* AZP 
61* 9M AWLob 
2S* 19% AMfiWd 
243* 10 AcmeC 
19V, 7 AaneE 
10 15V, AdaEx 

20 13V, AdmMI 

14<ik 83k AdvSvs 
3ft* 22% AMD 
11W 10% Adobe n 
1S% 14% AdobPiA 
16% isx AoabpfB 
12% 69k AOvesI 

S3 34% AetnLI 
57% 53X AelLpf 
39 ■* 22% Anmns 
3% Z% Aiieen 
57% 44% AirPra 
24% 17VS AirbFrt 
2% 1% AIMOOS 

29% 23% AlaP Pi 2410 94 
33% SOX AlaP ptA 192 124 
«% 6% AlaP dpt 57 10.9 
Bfi 70 AloPpf *44 115 
76% *0 AlaP pf 
26% IZ* AlskAtr 

30% »% Albnas 
33 '4 26% Altusns 
31% 27% Alcan 
38% 371k AlCOStd ._. ... 
32% 21 AlexAlx 140 11 
30 20% A lex or 2* 

89% 721* AHoCp 1441 14 22 
33* 20% Alplnt 140 54 
20% 16% Alain pf 119 111 
9* 85% AMI PtC 1 1.25 11.9 

34% 28% AlloPw 170 84 * 
24 1AX AllenG 40b 14 12 

23 '4 15% AltaPd 9 

<5 a AtdSon n ?0O Ot t 
66% 62 Aids PIA 4.12 60 
*3 iff*. AldS BfC *.74 11 J 
III 103% AltSSpJDllOO 115 
103% 101% AldS PlF 
*3% 47% AlldSlr 120 15 B 
9% 3 'A AlllsCIl 

30% 22% ALLTL 
39% 29% Alcoa 
19% 10% Ama> 

34 22% AmHes 

140% 98% AHCSPi 150 
2% 1% AmApr 

26% I* ABokr 
» 53% A Brand 190 

30% 25% ABrd of 175 
70% 54% ABrd pl 147 
119% 5*% ABdcst 140 
30% TO’ 4 ABIdM M 
30% 20% ABusPr 44 
6J T 4 47% Am Can 198 , 

25% 22% A Can pf 180 115 
22 18 ACaoBd 7JB TO. I 

30* 25% ACopCv UTe «4 
11 5% ACentC 

57% 44% ACvan 
29% 19% ADT 
241k 19% AElPw 
49% 34% AfnExp 
29% 14% AFamlS 
36% 23% AGtiCp 
16 B AGnl wt 

71% 47% AGn pfD 244 
36% 28% AHertl 130 
13% 7% A Holst 

64% 48 AHome 190 
4S% 28% AHOSP 1.12 
99% 73 Amrtcfi *40 
62 AlnGrp M 
16 AMI .72 
2% AmMot 
13% APresd s Si 
5 ASLFIa 

18% 12% A5LF1 pt 119 118 
15% 11% AStlto 50 49 


101 % 

28% 

4% 

29 

13% 


15% 26% AmSId 140 
60% 35% AmSIor 44 
78 46% AStr pfA 438 


44 23% 23 23% — % 

160 18% 17% 17%—% 

28 10% 10 10 — % 

4736 42* 4T% 423*- % 

56 10 9b) ID 

IBS 15% M% 14U— % 

769x 36% 34% 34% — H 

254 11% 11% 11% 

628 25% 25V, 25% +■ % 

140 U 16 1922 62 60%. 61% 

JO 10 18 432 34% 23% 24% +1% 

.A) 34 152 11% 10% 11% + % 

J2D 46 It 27 7 7 

1.92el07 124 1$ 171* 17%—% 

40 11 8 25x19% 19 If 

431 45 19 143 13% 13% 13% — % 
37 1818 25% 24% 24% — % 
237 10% 104k 10% + % 

82 15 14% 14% 

37D 14% r«k l*% + % 

.12 !J IS <78 10% 10% 10H— % 
164 5.1 17 10187 53% 51% STVk + % 

541c *4 5 56’-« 5*% 56% + % 

150 3.1 7 2122 39 38% 38%— % 

37 2% 2% 71* 

148 24 12 13*6 57% 56% 57% + % 

40 2-9 12 388 21 20 % 20% — % 

10a *2 34 1% 1% 1%— % 

4 28% 28% 28% — % 
37 31% 31% 311* + % 

718 SVk 8 8 

isoaz 86 84 8* — % 

23*0z 75 73% 74 +1% 

11*5 20 19% 19% + 'A 

113 27% 29% 2916— '4 
810 32 30% 31** +1% 

894 25% 35 25 — 1* 

331 3A% 36 36% + I* 

394 32% 31% 3T%— % 

144 28% 28% 28% 4- V. 

57 85% 84% 84% — 1% 

2836 26% 25 26 + % 

16 18% 17% 18% + % 

5 95% 94U 941* — % 
743 32% 37% 32% - % 

51 23% 22% 22% — % 
74 20% 20 20 — % 

4779 44% 44 44% + % 

10 65% 64% 65% + % 

58 60% 59% 59% — % 

6 10<% 104% 104% 4- % 

1* 103 102% 103 + % 

515 63% *3 63% 

204 3% 3% 3% + % 

95 29% 29% 29U — % 

3117 24% 33% 33% — % 

11BT 12 11% 11% — % 

17 25 1790 30% 29% 29%— % 

27 1 128% 128% 128% —1% 

120 1% 1% 1% 

10 66 37 26% 26% 

64 8 1*08 59% 58% 591* 

92 4 30 30 30 — % 

45 3 59% 59% S9% 

TJ 20 *357 119% 119 119% + '* 

3A 14 2 23% 23% 23% — % 

21 15 26 30 33 X — 14 

‘ 510 60% 60% 60% + % 

23 24% 24% 24% 

118 22% 21% 21% - M 

21 36% 36% 26% + % 

211 5% 5% 5Vi— % 

14 1* 5403 57% 54V* 56% +1% 
132* 288 28% 27% 28 — % 

9.9 f 4956 23% 22% 22% — K 

18 15 7947 48% 47% 47% —1 

17 17 1688 28% 28% 28 1 * — % 

10 9 1885 33% 33'* 33% — % 

231 16 13% 13% 

19 327 67% 47 *7 — % 

15 ID 2 33% 33% 33%— % 

116 9% 8% 9U + % 

4.9 12 2394 60 59% 59% — % 

2 A 1* 1574 47% <6% 47% +• 1* 

*8 V 935 98% 97% 97% —1 

S 21 1394 90% 96% 96% —11* 
17 10 2427 191* 19% 19VS. — % 

6986 2% 2% 2%— % 

11 6 492 16% 16% 16% — % 

13 84 ffl* 8% B% — U 

222 17% 17 |7% 

124 11% 11% 11% 


Stocks Turn Lower on NYSE 


United Pres t International 

NEW YORK — Prices on ihe New York 
Stock Exchange were lower late Wednesday in 
moderately active trading, although blue-chip 
issues had trimmed earlier losses. 

The Dow Jones industrial average was down 
2.17, to 1,431.42 an hour before the dose, and 


Although prices in tables on these pages are from 
the 4 P.M. close in New York, for lime reasons, 
this article is based on the market at 3 P.M. __ 


1.9* tJ 9 
1.20 1* 32 
.181 
M0 


13 


1.90 

.92 

126 

U* 

M 

1.00 


declines led advances by a 4-3 ratio. Volume 
was 91.9 million shares, down from 147.4 mil- 
lion in the same period Tuesday. 

Prices were lower in active trading of Ameri- 
can Stock Exchange issues. 

Jon Groveman, head of equity trading at 
Laden burg, Thalmann & Co., said investors 
were using a “mild seliofF in the bond market 
as an excuse to take profits. 

“The market has come a long way in a very 
short period of time, and it's very normal for it 
to be subject to some profit-taking," he said. 
“Nothing goes on forever. 

Despite recent record-breaking gains in 
stocks, Mr. Groveman said, “plenty of healthy 
skepticism” remains. Only in the last one or two 
days has the apparent character of the market 
changed to include strength in secondary issues, 
he said. 


Hugh Johnson, head of the investment-policy 
committee at First Albany, said the market was 
undergoing a bit of profit-taking and also step- 
ping back to take a look at what is going on. He 
said the bond market was struggling a bit as 
yields on long-term Treasury bonds dip closer 
io !0 percent. 

"The credit markets have been the primary 
drive behind what the stock market has done 
and when they stop rallying, the stock market 
stops.” Mr. Johnson said. 

Beatrice was near the top of the active list and 
higher. 

Among blue chips. IBM was unchanged at 
1353>, AT&T was easier. General Electric was 
ahead. Chevron was off a bit and Dow Chemi- 
cal was down a fraction. 

Ford, General Motors and Chrysler all were 
gaining. 

F.W. Woolworth was up. The company re- 
ported its third-quarter earnings rose to SI .20 a 
share from 82 cents a year ago. 

The finan cial sector, which has helped lead 
the market up. was slightly easier. Phibro- Salo- 
mon was off a bit. 

Capital Cities Communications was off frac- 
tionally after climbing 7 14 Tuesday. Among 
other media issues. CBS was slightly lower. 

On the Amex. active issues in eluded Dome 
Petroleum. BAT Industries and Home Group. 


UMontti 
Hlgn Low Sloe* 


Sli 

100) HkfflU* 


das* 

OuaLChff 


34 25 BrwnGo 

57 1 -. 32^. BrwtlF 
401* 28% Bmswfc 
40% 29 U BrshWI 
19% 1* Bund* 
20 16W BunkrH 

20’* 14V. BurlnCI 


*8% 45 BiiNlll 
7% 6% BrtNOPl 

52 47% BfIN pt 

18% 9% Bumdv 
68 52 Burrgtl 


20 % 11 
5^ 1 
12% 2 


ButM-ln 

Butler. 


1J6 

40 

22 425 

34% 

108 

1.9 

19 285 

57% 

100 

25 

9 1077 

40 

52 

U 

14 264 

31* 

00 

4J 

64 11 

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2.16 

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31* 

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66% 

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73 

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7% 

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241 

sal's 

A4 

61 

38 291 

UX 

160 

46 

17 1156 

58% 

52 

16 

17 112 

14% 



64 

1% 

1051 


in 

2% 


391* 39% + % 


7% 7% 


1% 

2U 


1%— % 
2%— % 


12 Month 
HWi Low Slock 


SB. 

>Oh Hifitl Lm 


Ouat.Orte 


51 

24% 18 
41% 33 
42% 34 
30 17 

28% 14 

72% *1** ATrpr 
18 *% ATrxc 

89’* 69 ATrun 
44% 26V, Ameron 
2SVU 13'A AtnesD s 
29% 19% Arnetek 
28% 18% Am toe 


SJ 


AStr DIB *B0 117 
AT&T 170 56 151 
AT&T pf 344 &9 
AT&T pf 374 9J> 
AWotrs 1.00 3J 9 
AmHotl 270 145 6 
564 7.9 


48 11 2365 33M 33 33% 

10 12 145 67% 66% 67% + % 
13 77% 76% 76% — % 
110 58% 57% 58% + Vj 

® 5*S8»=ai 

229 41% 41% 41% 


128 XV. 30 30 + % 

JT-% 


564 

160 


M 


37 8 
23 
37 15 


17 16 15% 15% — % 

6 86% 86% 86% +1 
52 44% 43% 43% - % 
37 24% 24% 24% — % 
82 24% 24% 24% - % 


16 2% AmfHC 

705* 50V* Amoco 
37% 27% AMP 
22% 11% Am pen 
23% 12% Amrea 
38% 22% Amsth 
46% 32 AmstKl 




98 4 98 tt sett 1% 
20 u,s a&bFa+tt 

15 38% 38% 38% 


4V* 1% Anocmp 

24% I6V* Anias 


11 

36 10 

37 17 1 


27% 19V* Anchor 
AnCtov 


46% 33 AnCloy 
14 9% AmlrGr 

Anaeiic 


27>A 17 „ 

39% 21V* Anhciiss JO 
78 S3 AntwtiPt 360 
19% 13% Anlxtr 78 
16% 10% Anthem JM 
15% 10% Anltmy 
12% 9% Aoactie 
2 % AactiP wt 


22 
56 

13 34 
17 15 

H 13 
49 

16 19 
7 26 
64b 36 8 
78 26 11 


» 18 IS 18 *8 


200 21 % 20 % 21 % + % 
_ 25% 25% 25% + % 
46% 44% 4*1* + % 


3 


410 

2, £ 

303 

40 



19% 15% APChPun2.10 116 
if 360 127 


31% 28 AoPwpf „ 
39% 15% AfllDta 1.761 87 
15% 8% AppIMa 

24% 16% Arch Do 
31% 26% ArlP pt 
28% 14 ArkBst 


24 ^ 16^ Ark la 


.14b 6 
158 117 

.£ U 


645 

224 

1 


14 13% 1 

% 26 
36% 

18% 17V 18 
14% 14% 14% — % 
13V* 12% 13 + W. 

12 11% 11%— % 
1 % IV n* 

18% 18% 18%— % 
31 31 


J l *4* Kl 

IV + % 

11 2*2 14% 12V 14% +1% 

13 2057 23% 23% 23% — % 
3 30 X 30 — % 


ArlnCo 
15% 11% Armada 
11% 6% Ar men 
22% 1514 Armcnf 2.10 106 
24V, 13% ArtniRb 68 37 

4a 78V, ArmWIn 170 

35 232* AroCp 170 

181* 111* ArewE 70 1J 

XU. 16 Artra 72 1J132 

28 17 Arvlns JU 10 10 

27% 15% Asarco 

37 23% AstilOII 160 45 9 

46% 37% AshlOaf 450 10J1 
4<*A 35 AltllO pf 3JM M 

38 24% AsdDGi 160 ’ 

120% 79 AsdDpf 475 

23% 16% Athlone 160 

29% 23% AlCvEI 158 

671* <2 AIIKich 4.00 

160<* 100% AtIRCDt 260 

17% 10% AIIOSCP 

29V5 18% Auaat 60 

56% 35% AutoDl 68 

5'^ 4% Avalon n 65* 1 J> 9 

36% 17% AVEMC 60 1.7 15 

39% J8% Avery 68 15 14 

38% 27 Avne! 

28 17% Avon 

28% 16% Avdln 


162 27% 26% 26% — % 
‘ 199* 19% 19% - 


2JH 


9 3 19 « 

11 13% 13% 13%—% 

524 9 8% 8%— % 

12 20 19% 19% 

15* 14% 14V* 14%—% 

37 10 2385 40% 39% 40% 4- % 

36 12 8 34% 34% 34% — % 

376 1» 13% 13% 4- % 

19 22% 22% 22% 

110 27% 27 27 — % 

230 17 16% 17 + U 

79x 35% 35% 35% 
1B<44% 44% 44%— % 
4x42% 42% 42% + % 
563 37 36% 36%- V* 

3118 118 110 — 1% 
B lin* 18% 1H* 

82 29 28U 2tP* 

2575 65% 64% 65 + V* 
5 155 154% 155 + % 

35 12% 12% 12% 

120 23% 23% 23U. 

821 56% 551* 55%— % 

32 4% 4% <%— % 

56 35% 35% 35% — % 
278 35% 35 35 - % 

16 30 1247 32% 31% 31%—% 
77 14 3736 27% 27% 27% + 'A 
17 108 19% 19% 19% — V* 


3J 12 
4JJ 

85 55 
*6 10 
67 
16 


17 27 
17 22 


B 


■12i 

60 

.92 


26 11 
55 14 
26 14 


72 

70 


77 14 
17 

12 
76 9 

95 

17 12 


14'* *% BMC 

35% 21V. Baimco 

18% IS Bkrlnll 

24% 18% Bolder 

2% % vi Baidu 

33 20% Ball S 

18% 11% BallvMf 
11% 7% BallyPk 

23% 18% BIIGEs 170 

48 38% Boll of B 450 

24% 15% BncOns 60 

5% 1% Ban Tex 

*2 48% Bandog 170 27 12 

55% 39 BkBos 260 46 5 

47% 31% BkNY 278 5.0 7 

33U 22U. Bank Vo 1.12 46 8 

22% 12% BnkAm 60 57 

47 30% BkAm Pl 467ell7 

16% 13% BkAm Pf 268 
32% 264. BkAP.ty 260 &9 12 
75% 51% BonkTr 270 19 7 

27 ‘ 

15% 


288 7% 71* 7% + % 

472 25% 25 25 — % 

310 17% 16% 16% — V* 
40 20V* 20 20 — % 

421 11* 1% l%— % 

222 31% 30% 30% —1% 
3262 14% 15% 1ft 
621 111* 10% 11 + % 
IBM 23% 22% ZI% — % 
200i 47% 47 47% + V 

304 25 24% J4% + % 

129 2% 2% 2%— % 

15 55% 55% 55% — % 

.83 SA 53% 53% — % 
255 45% 45% 45%— % 
252 28 27% 27% + % 

14079 15% 14% 15% + % 
103 39* 39% 39% + % 
169 15 14* 15 % 

I4« 28 26% 24% —1 

1014 694. 68% *91* - % 


21 x BhTrpf 

250 

9A 


12 

2ft% 

2ft* 




03) 

3 

12 

74 

15% 

14* 



19 Bard 

56 

IJ 

15 

954 

41V, 

40* 



19% BomGp 

JO 

14 

16 

54 

23% 

23% 



25% Barnet s 

104 

2.7 

11 

734 

39% 

38% 

38%— IX 

Ift* BarvWr 








6U, BASIX 

.IB 

IJ 

12 

258 

9% 

9* 



74X Beusch 

.78 

2J 

14 

1358 

31% 

29* 

30%- 


11% BaxtTr 

37 

U 

5S1TO28 

13% 

12* 


- X 

20* BoyFto 

30 

0 


67 

24% 

24% 

24% 


25* Bav5tG 

160 

9.1 

11 

12 

32* 

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32% — % 

19% BearS) n 




h% 

21% 

W* 

20%- 

- % 

31% Bearing 

IM 

2.9 

13 

17 

34* 

34* 

34*— X 


47 26 BeatCo 

86T* 52% Beat Pl 
16(* 12% Bacor 
60% 38„ BectnD 
7% !*. vIBeker 


11 


160 19 930400 45% 44% 45% +1 

378 46 30 84% 83 84% +2V. 

64 11 110 315 14% 14'* J4'* + % 

' 11 15 12B6 MV, 58 58 -2 

742 1% 1% 1%— % 

2 % 2 %— % 


1J2D 


33 


1* vIBetu-pf J9| 


27 

3% 

12% BefdnH 

J0 

2J 

12 89 

IS* 

22* BefHwl 

67 

1.9 

11 2066 

32* 

76* BetlAII 

600 

70 

9 1026 

98 

25% BCEg 

128 


84 

31% 

19% Beltind 

JZ 

IJ 

27 35 

25% 

31 n Bell5w 

180 

63 


44% 

41* BeleAH 

JO 

IJ 

25 61 

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24X Bemts 

100 

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13 164 

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200 

64 

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630 

10.9 

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31 31% 

25 25% — V* 

44% 44% — • 1* 
49% 49% 49%— % 
41 —IV* 

4S »— Wi 

39% 38% 39% + % 

70z 41% 41% 41% + % 

207206 20ft 206 +3% 

1302 33% 22% 23% 

94 17% 16% 169k— <* 
420 4 3% 3%— % 

*4 7 6% 7 

130 14% 14% 14% — % 
1192 IS 14% 143*— V. 

57 38 17% 38 + % 

191 19% 19% 19% + % 
3 18 2674 17 35% 36% + % 

12 89 344 25% 24% 2S 

23 51 181* 11% 181* 

12 17 9355 20% 191* 20 -M 
86 10 53 34% 33% 34% + A 

397 21% 20 20 — 1% 

35 ' 19% BlkKRs 176' 4.1 15 273 34 33% J3%— ■* 

50% 34% Baaing S 168 27 14 4096 4fl'* tM. 48 + % 

51 37 B0JCC 1.90 46 24 1881 44 43% 43%—% 

... - - - jj ,3 57V, 55 yj 57.4 + , 

7 29 142 31 30% 30%- % 

14 12 1970 44% 43% 441* + *■ 
46 11 1370 21% ZI% 21% — % 
14 47 9% 9% 916—1* 

Ml 


40 ... . 

42 33 Benolpf 470 108 

203% 142% BenefPf 570 V 
23% 18 Btnefpf 270 106 
19% 16% Beneatn 170 7.1 
6% 3'* QenstB 671 

9 3% Berkev 

15 10% Bast Pd 74 1J 58 

21% 12% BettiSII 701 

49% 36V* Bamsipl560 137 
HU, 10% BethSl pf 270 129 
40% 29 Beverly 72 
26% 19% BSflThr 

94% 13% Biadt n 

26% 17% BlockO 

3*'* 24% BIckHP 

27% U% giairJn 


M 


M 

1.92 

.781 


61 50% BotseC Pi SHO 

32% 18% BoftBar .10 

441* 28% Bordens 172 
24% 19% Barowa .» 

10% 4% Bamws 
44% 22% BftSEd 364 

85 67% BasE pf 868 107 

11% 9% BosEpr 1.17 107 

14% 11% BesEPr 1 66 10J 

2S% 194* Bawatr 37 11 

31% 254* BrtaSI 

64% 474* BriilM 

4% 3% BrltLnd 

33% 21% BrilPt 1.9*te 66 8 

281* 22 BrtT2PP Ale 23 13 

4% 1 Brock 

29% 16% Brefewv ITS 46 14 

42% 34% BfcvUG 112 76 8 

26(9 20% BkUGpf 247 9.7 

37% 30% BkUGpf 195 11 3 , 

26% 16 BwnSh 70 .9 15 


1A0 

IJ8 


9 

M 13 


329 411* 41% 41%- % 
SOI 82 82 82 +1 

5 11 10% 11 

32 13% 13% 13% — (u 
1449 23% 23 23 - % 

._ 289 28% 27% 37% — % 

lii It 3603 62% 61 61%—1% 

20 8 3% 3% 3% 

244 31% 31«- 3H4. — 1* 
9 27% 77% 27V* + % 
144 IV. I 1 
282 29U 28% 28% 

30 421* 41% <7% 

2 25% 25% 35V, + % 
30 34% 33% 33% - % 
99 22% 714* 22% + 4. 


29 10% CBI 111 

126 >* 68% CBS 
8% 4 CCX 

12 9 CCX Pf 

*3% 38 CIGNA 
33'* 261* CIGpf 
544* 49 CIGBi 
7% 1% CLC 

61% 281* CNAFn 
11% 91* CNAI 
20% 16V* CNW 
521* 38V* CPC Int 270 
27V* 17% CPNH 170 
22% 19% CR1IMI 
20% 71% CSX 
40V4 27% CTS 
12% 7% C 3 Inc 
331* 20% Cabot 
17% 8% Caesar 
2S% 13% Cal Fed 


175 11.9 
Z60 47 
2.75 BJ 
4.10 7J 


3.1 846 19% 19% 19% + % 

25 21 2834 119% 115% 119% +1% 
10 22 SV* 5% 5% — <4 

lOOz 10% 10% 10% 

27 1210 62% 61 61%—% 

72 32% 32 334* 

38 54% 54% 54%— U 
11 2 1% 2 + % 
553 61% <59% 61% — H 
23 11% ll’A 11% + V* 
142 18 17% 17% — % 

665 51 50% 50% - <U 

193 27% 27 27% — % 

*4 204* 20% 20% — % 
47 10 2233 27% 27% 27W— % 
14 11 47 294* 29% 29% 

222 21 9 0% 8% — % 


11 



54V* 38% CalFdPf 475 8.9 
21 13% Calllm 75b U 

32 19% Calmol 

15% 12 CammI 

2k 1SV* CRLk a 

6M> 2% CmpPg .161 
te% 30% Cam So s ITS 76 15 
15% 11% CdPocs .48 






2J 14 
.9 43 


24% 24% + % 
14% 15% + |A 

IT % 
— % 
30% 30% — % 

a*ar=» 

2 % 2 % + .% 

i— V* 


22% 17% CanPE O JO 



221% 151 CapCIIS 70 
27% 19% ConHdS 77 3.1 

110% 100% COPMPt 9Jle 9.1 
12% 9 Caring a M 

40V* 27V* Carlisle U» 

27% 18% CaroFI M 
30% 74 CarPw 240 
40 29% Cat Tec Z10 

11% 6% Carrol .10 
24% 17% carPlrs JO 
31 22% CortHw 172 

44% 24% CarfWl JO 
18% 12% CascNG 170 
lfr% 9% CastiCk 
29 15% CstICpf 

15% 12 CstICPt 
38% 2S% CalrpT 
28% 19% Ceco ... _ . 

1334* 74% Colons® 4J0 3J 11 
44% 34 Colon pr 4J0 10.1 
10% 7% Canay J4a J 24 

45 34% Cental 278 56 10 

26% 20% Centex 75 17 11 

27 20% CenSoW 2.02 77 7 

31'* 23 C*nHud Z96 11J 6 
21% 16% CnllPS 1J4 87 10 

29% 20% CnLOEJ 2J8 7J 7 

37 314* CLoEl Pf 4.10 117 

13% 9% CaMPw 160 107107 

21% 16% CVtPS 170 97 6 

11% 2% Centrt) I 

12% 0% CrrtrvTI 

23 17% Cenvtll 

28% 19% Crt-tead 
30% 14% CessAlr 
25% 19 ampin 
27% 22 dim I pt 12) 

54% 46% Chmlpf 4J0 

9% 74* ChomS p JO 

4% 1 vlClirtC 

1% U. viChl wt 

4% 1% yfChnpf 

61% «17k Chase U0 
49% 40% Chase pt 575 107 
56% 51% Chase pt 6J5ell7 
56% 51% Chose pf BJ3el&7 

24 16% Chelsea 77 10 10 

32V* 24% Chanted 157 SJ 13 

44% 30U. Chm NY 248 6.1 5 

44'* 304* OlNY pf 1 J7 4J 

56% 51% ChNYpf 4JBe 77 

39% 32 Cnespfc 174 25 13 . _ 

44k. 31 ChesPn 200 SJ 13 2140 40% 39% 40% — % 

40% 29V* Chevrn 260 66 9 2822 38% 37% 37% — % 


JO 65 
260 137 
70 25 
J0I 
52 


9 
8 
0 
28 
23 
SJ 
LB 

46 15 


67 5 


212% 2i: 

,SMr-* 

9% 9%— - V6 
28% 28% + M 
27 27% — V* 

■ _:a 

7 

25% — % 

zv 

12 % 12 % im + % 

26% 26% 264* -t- % 

14% 14% 14% + % 

2913 37% 36% 37 — % 

315 28% 28% 28% 

231 133% 132% 133 + % 

6 44% 44% 44% + V* 
1632 9% 8% 8%— % 

164 44 43% 44 + % 

189 25% 24% 24% — % 
1347 26% 26% 26% — % 
198 27 26% 27 

231 19% 18% 10% 

109 26% 26V* 24% + V* 
15 35V* 35% 35’A — V* 
221 13 12% 12%—% 

9 20 19% 19% — % 

214 4% 4% 4% 

131 12% 12V* 12% — % 

41 18% 18% 18% 

104 24% 24% 24% + % 

20 29% 29% 29% 

1482 23% 22% 22V— % 

15 24 23% 74 — V* 

18 52% 52V* 52V, + % 

402 BH 8% 8% 

* * * S 

148 3 2% 3 + % 

1244 61% 41 61% f % 

437 49% 49 49% 

27 53% 55% 55% + % 

18 53 52% 53 + % 

92 23% 23% 23% 4- % 

2ft 30% 30% 30% — % 

1851 41 40% XO%— % 

4 4SP* 40V 40% 

12 56% 56 56 + % 

46 35% 34V 35% + VI 


28% 14% CnPprT 378 145 

55% 33% CflPPiH 768 14 J 

28% 14% CnPnrR 4.00 147 

28V* 14% CnPprP 378 14J 

28'* 14% CnP prN 385 MJ 

18% 10% CnP prM USB 14.1 

17 91* CnPprL 273 135 

29 15% CnPprS 4J2 148 

18 10% CnP or K 263 147 

471* 31% CnHCp 260 
10% 4% Coni III 

4V* % Conlllrt 

53% 33 Diltll Pi 
7 % CfliHid 

MV* 4 Cntlnfo 
24% 20% CanlTei 
38% 15% CtOata 
40% 32 CnDlPl 
1% % vlCaokU 

39% 271* Cooor 


1J0 77 
72 4J 
460 T3J 


1J2 19 16 


75 UV* 26 26 

*002 55V 55 55 

22 2716 27V* 77% 

18 27% 27% 27% 

13 26% 26% 25% 

24 18 17 17%—% 

15 16% 16 16 — % 

64 281* 27V* 27V* — % 
_ 7 17V* 17 17% + % 

5J 41 1788 47% 46% 47 — % 
14 156 7% 7% 7% 

193 2 1% 1% 

22 52% 52% 57% „ 

322 % % V— y, 

355 13% 13 13% — % 

1423 23% 23% 23% + % 
1825 17% 17% 17% + % 
880z 34% 321* 34% 42% 
239 1 I 1 — % 

365 39% 38% 38% — V* 


10 


20% 14% CoorTr 
27% 15 Cooovts 
I5V B% Capwld 
22% 17 CPwtdPl 
27% 17% Cardura 
15V. 11 Corel ft 


56% 27% Cor 01k 
10% 5% CntCrd 
11 i Craig 
39% 32 Crane _ 

60% 23 CravRs 
53% 49% CrckNpf2J3a SJ 
74 10% CrmoK 1 JO 56 11 

79 63V* CrwnCk 12 

44% 28% CrwZel 1.00 26 
50% 44 azel Pf 463 96 
65V* 50% CrZtH PfCASO 73 
20% IS'm CtysB n 
35% 22% Culbro JO 23 16 
33% 13 • Cullnel 6 
88% 58% CumEtl 230 _. 
10% 9% Currhtc i.iaoiOJ 
37% 30% CurtWf 130 33 17 
52'* 33% Cyclops 1.10 


2.TO 

73 

129 

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40 

40 


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tfr 

17* 

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15 

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84 

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130 

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IJ 

76 139 

56* 

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J4r 

26 

15 153 

9% 

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% 



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lJOt 

62 

11 180 

3SX 

37% 

38 

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31 1827 62% 60% 61% 4-1% 

551 52% 52% 52% + % 

166 22% 22% 22% — % 

187 77V* 76 76% 4- % 

1991 41% 40% 41V4 

459 49% 49 49V* — VA 

1 6T% 61% 61% — % 
108 30'* 19% 19% — % 
18 35% 34% 35 — % 


11 9 


20 2177 15% 14%'!5% 4- %, 


23 8 


278 70% 69% 
4 10% 10% 
10 36% 36 
10 48'* 48% 


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69 


.40e 1J 12 
341 3.1258 
611 


200 124 ChIMIW 

80V* 53% Chi Ml of 

29% 16% CniPnT 
11% 7'i ChkRjII 
58% 31 ChrisCr 
13% 7% Otrts tn 

16 V* 9% Chroma 
72 44% ChrrapflOJOk 

42% 25% Chrvstr 1 JO 26 
5*V. 30% Chubb ■ 

47V, S0% Chubb Pl 435 63 
20% 13% Church s 64 25 15 2 US 15 
Ilk. 5% chyron ,10b 13 25 88 B 


222 86 10 
1120 63 8 
116 113 7 

4-00 11J 

764 126 
9.20 125 
952 127 
37 4J 


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236 4.9 
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1.10 46 


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296 


130 

136 


27V* 21 Glcorn 
51 <0 Cin Bell 

19% 13% CinGE 
34% 27% ClnGftf 
61 40% ClnG Pt 

75% AT ClnGpf 
77 40% ClnG Pt 

2k% 15% CInMIl 

24% 19% cireiKs 

31 18% CtrCItv 

30% 15 arcus 
51% 34% Oh era 
B% 6% Clablr 
19% 6% ClalrS s 

37% 23% ClarkE 

14 8% ClavH 9 

22V* 16% CIvCJI 
21% 19% OvCJpf 2J0 .. 

23% IBV* CtevEI 2*4 1)6 
64% 54% CIvEI Pf 756 123 
103% 01% CIvEI Pf 10388105 
14% BW, Clavpk JU 
17% 10 Clvafcpf 1.111 
IB<* 9% Clvpkpf .921 
4ft V* 27% darax 13ft 3J 13 
26% 16% ClubMd “ ' ' 
39V* 25% CluettP 
24% 16% Cllietpf 
21 Vi 9% Cuadim 
36% 16% Coast! s 
77k. S*% CDCOCI 

21% 10% Cot era 

32% 25 V* Cotemn 
33% 22% CotgPal 

26% 16% CoiAik s 

16% 9 ColFdS 

33% 25% Col Pen 
65% 50 Colllnd 
*0 2t% ColGos . 

48% 451* CoIGspf 5.12 103 
53% 45V, ColGlPf 5.15® 9J 
28% 25 CSOPl 365 
21% 17% CSOPf 262 113 
111 102% CSOPf 01535 13J 

114 102% CSO Pt nI53S 14.1 

SO 34% Comb In 2)6 46 
37% 23% CmbEn 1 30 li 
33% 8 Comdls 30 
19% 15% CamMtl 36 
25% 0% Comoro 
32% 26 CmwE 
32% 26% CwEpf 
18% 14% CwE pf 
18% 151* CwE Pl 

76% 62V. CwE Pf 

24% 19% CwEpf 
26% 22% CwE Pf 
65% 53 CwE Pl 
30% 22V* ComES 
38% 23 Comsat 
35% 23'* CPwe 

35% 23% Com pgr 

29% 13 ComoSc 
44% 9% Cshrtn 

39% 24% ConAgr 1J0 Z6 14 
20 16 CoihiE 160 BJ 13 

32% 22% CnnNG 2J0 7J 10 
15% 12'* Conroe 40 75 18 
31 27'* Corn Ed 260 65 8 

47% 36% ConE of 465 10.1 


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3.18 15 


100 105 
162 4.9 
1.90 10.9 
230 113 

L3S 113 

237 95 
2J7 113 
734 113 
252 U 


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38 

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37% 36% CnsFrt 1.10 10 12 
47% 38% CnsNG 252 53 9 

8% 4% ConsPw 

31% 18% CnP of A 4.I6 136 
33% 20 CnPofB 450 136 
54% 33% CnP BID 765 14.1 
56 33k? CnPolE 7J2 14 0 

56 33% CnP PtG 7.76 143 

111? 15% CnPorv 4 40 14.7 
2S% 14 CnPorU 2 U 145 


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76 22% 22% 22% 

121 8 7% 7%— V* 

29 55V* 54% 55 — % 

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472 15 14% 14% — % 

7 71 70 70 + % 

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141 67 66V* 67 — % 

17% 17% 

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3 50’* 50V* 50V* — V* 
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130z 74 74 74 — l'A 

50ta 76 75 75 —1 

509 18% 17% 10 — % 

1862 20% 19% 20% — % 
243 22V. 21% 22 + % 

4)8 25% 251* 25V.— % 
5372 44% 44% 44% — ■* 
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809 UP- 10'A 10% + % 
1935 25'* 24% 251* + % 
141 14 13% 13% + % 

37 17% 17V4 17% + V* 
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24001 42 42 62 — % 

1 ICO 103 103 — 1* 

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34 12'* 11% 11% — % 
63 10VA 9% 9% — % 

847 44% 45% JS%— % 

422 21V* 20% 20% — V* 

2J 20 1465 39 38% 38% 

4.1 5 24% 24% 24% + lb 

13 15 119 12% 12% 1218- % 

12 11 418 33% 32% 33 + % 

3J 15 2350 77% 76% 77% + % 

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43 19 IB7 28% 37% 28 — % 

43 46 152*1 Sfffe 30 30%—% 

11 9 210 2t'u 25% 26 — M 
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115 63% 62% 63%— % 

1722 37% 34% 37% + % 

2 50 49 SO +1% 

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X 27% 27% 27% + Vi 

Z 21% 21% 21% — % 
350x110 110 110 +1V) 

220x109 108% 108% — Vi 
224 49(* 48% 48% — % 
920 29% 29 J91* 

1389 24 23% 23% + % 

73 19% 19% 19% 

766 10 9% 10 + % 

3642 29% 28% 291* * I* 

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52 17% 17% 17% + % 
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6 24% 24% 24% 

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2100X 64% 64% 64% 

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1.1 IB 1270 26% 26% 261* — % 

2J ? tg 26 25% 24 +% 

580 29% 28% 28%— ~k 
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9 18% 18% 18% — % 
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147 34'* 35% ]6's + % 
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26502 S3 52% 53 
3310, 55% 54% 55 
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23% 15% Dallas J6 33 X 
1«% 91* DamanC 30 13 
30% 221* DonaCp 1.28 S3 8 
5% Donohr 8 

4% Daniel -18b 2 A 

27% DartKrS 136 
31 DafaGn 
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14V* Day CO 34 
87 Day C Pi 435 
45V. 29% DaytUd J2 
20% 15 DavtPL 230 10J 
46 52% DPLpf 737 11 J 


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140 121 


40% 24% DeanFd 36 
33% 241* Deere 130 
26% 20% DetmP 1.92 
52% 34'* Del MAr 1J0 

10 4V. Dallano 

44% 24% Dlxdll 134 
28% 20% DenSMf 130 
37% 31 'A D®5oto M0 
n% 14 Del Ed 1J8 113 
99% 80 DelEpf 530 6A 
80 64 DetEpf 932 113 

68% 54% DetE Pt 7J8 1M 
66 51% DetE pf 7J5 1M 

26% 22% DEpfF 275 103 
28% 23 DE prR 
27% 21% DE DiO 

27% 221* DEPtP 

25% 22 DE pfB 
1T& 24 DE pfO 
29% 24 'A DE PfM 342 12.1 
33% 28 DEprL 4J0 125 
34% 29 DE PtK 4.T2 127 
116%- 107 DE PU 15J8 117 
99% 77% DetE Pf 972 97 
7B% 16% DelE PT 5L28 11J 
24 18% Dexter M 15 13 

18% 11% DIGtor M 3J 94 
27% 18% DIGtepf J8 13 
33% 24 DIGtoPt 235 73 
21 14% DkmnS I57rl02 

38% 34% DlaSlIRi 4 JO 1IJ 
22% 20% DfaSOfnMOe 6J 

11 6'A DianaCp 30 33 3 

57% 31% Dtetfid s 130 ~ 

125% 851* Dlytial 
981* 56% Disney 
28% 17% DEIs 
61* 4% Dlwrsln 

10% 4% Domes 
34% 26% OomRs 

26% 16% Donald 

41% 43% Donley 
34% 23k. Dorsev 
42% 32% Dover 
39% 27 DawCh 
50 34k. Dawjn 

38 S% Downey 
15% TT Drove 
241* 17% Drew 

21% 14% DrexB 
72% 35 Orevfin 
63% 46% do Pool 

31'* duPntpf 3J0 

40 duPntpf 4jo 


16% 16% 16% 

14 13% 14 

24% 34% 24% - % 

a 7% 7% 

7% 7Vs— % 

19 13 2861 40% 39% 39%—% 
48 646 44% 44 44% 

324 5% 51* 5% + % 

15 9 121 7 6% 6% 

U * 56 18(6 15 18 — % 

47 100x 90 90 W —19% 

1.9 18 3148 43V* 42% 43 

19% 19% 19% — % 

64 64 64 +% 


170 

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272 

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130 

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80% 65 Duke Pf 870 105 
77 61% Duke pf 7J0 104 

35% 30% Duke pf 185 109 
87% 70 Duk nIM &84 IttS 
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17% 141* DuaLt 2 0 a 125 S 
19% 15% Dua PfA 110 11.1 
16% 13 ' Dud Of 1 J7 T1.9 
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18 14% DuqprK A10 11J 

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25% 23V. Duqpr 274 MU 
27% 30% DvnAm 30 7 


M 18 222 39% 39V* 39% — 1* 

16 41 3197 27% 27 27% + % 

7J 9 595 25% 25 25% + V* 

3M 40% 39% Xfti— % 
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62 22% 22% 22% + V* 

48 34% 33% 34 — % 

2063 15% 151* 15% — % 

4 86V* 85% 86% +1% 

60»x 78 77 78 +1 

1270Z 67V, 47% 67% —1 
600X 66 65% 65% + % 

9 26% 26% 26% 

47 27% 27 27% 

105 26% 26% 26% + % 

111 26% XV* 2616— % 

6 25% 25% 25% 

35 28% SB 28% + % 

171 28% 27% 28% + % 

12 32V* 31% X + % 

16 32% 32% 32% — % 

1 114V* 114% 114V* 

500QZ100 100 100 + % 

2 19% 19% 19% 

93 23'* 22% 22% — U. 
41 17% 16% 17 + % 

30x 27 27 27 

11 30% apt 30% 

4653 15% 15% 15% + % 

54 36% 36% 36% — V* 

208 21% 21V4 21% 

34 10% 10 10% + % 

789 37 36% 36% + % 

19 3489 1171* 116% 116% — % 
13 52 1219 97% 95% 95%— 2V» 
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1290 33% 32% 33 — ’* 
164 25% 25% 25% — V. 
450 » 58% 58% + % 

79 36'* 35% 36 + V. 
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1.1 4 146 X 34% 35 — % 

3J ira 14% 14% 14% 

4J 16 1480 18% 18% 18% 

17 20% 20% 20% — I* 

15 324 71% 70% 70% —1% 
17 2417 AT* 62% 62% + % 

3 37% 37% 37% 

24 48 47% 48 + % 

9 418 34% 34% 34% — 1* 

BOOK 78% 77 78 +1% 

300z 75 73 75 +1% 

17 35 1 * 35% 35'*— '* 

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792 78% 78 78 — 1* 

697 16% 16% 16% — % 

370x 19 IB 1 * 19 +4* 

Blttt 16 15% 15% 

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9 17% 17% 17% + % 

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502 25% 25% 25% 

131 26% 264* 76%— '* 


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12% 3% East Air 

1% EALwtO 
% EALwtA 
7% ESAtrrt 153k 
9% EAtr ptB 4L20k 
SV. 11% EAlrptC 
28% 21% EastGF 130 54 
23% 15% EastUtt 234 91 
SO 41% EsKods 120O4J 
UV* 49% Eaten M0 24 
15% 11% EcNteG 
SVk 70 EcAard 
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18% 14 EDO 

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20% 15% EmrvA JO 33 14 
33% 261* Emhart M0b4J 18 
22% T7% EmpDS IJ8 8J 8 

5% 4V* Errnpf JO lao 
16% 12% Energan 1JM 73 10 
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70 11% EnisBas 34 1.9.14 

29% 17% Ensercn 140b 7.1 141 
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2% 1% Ensrae 34 

13% 9% Enters 
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3M IB 1 * 1BU 181* + Vk 
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212 2% 2% 2%—% 
183 1% 1% 1% + % 

22 OTi 1BW 181*— % 

94 2JR-* 3® 20% 

24 24% 24% 24% — % 

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102 23% 22% 72V— % 
5015 46% 45% 45*.- % 
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36 11 2322 17% 12 12% — 1* 

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55 73 32% 321k— % 

140 14V, UV* 141*—% 
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86 10% 10% 10H— % 
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169 21% 29% 21% + % 

106 13% 13% I3%— % 

923 4% 30* 3V.— Vk 

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267 39% 29% 291* + % 
478 22% 22% 22% + Y. 
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107 ZT* 11% 22** + % 

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13% 9% 
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22% 15% 
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32% 25% 
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47% 25% 
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17% 10% 

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131* 11% 
50% 281* 
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X'* 24% 
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22% 17V* 
13% 9% 
10% 8% 
22% 15% 
32% 73 
20% 21V* 
32% 26% 
36% 28% 


FMC 220 12 34 1918 
FPLGP 1.96 7J 8 1279 


FabCtr 38 28 22 

Face! X 

Pairchd 30 19 

Pol real 360 11 J 
Fotrtd .18 1J 9 

FgmDI s JO .9 22 

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30 2 A 19 

360 U 8 

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FdHraaf M4e 4J 40 

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FPaOPf 231 BJ 134 


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FadDSt 2J4 3J 10 1031 
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Fittest 1.00 3J 11 
FtnCpA .051 
FinCppI L2Sal7j 
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FtreFdn 30 1J 
Flrestn JO 43 14 

FtAtls JOa 75 10 

FIBkSV 1J0 40 7 1682 

F Bit FI S 131 IB 15 72 

FBaslS 1 30 23 11 486 

FstChlc 137 53 9 


54 

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149 

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415 

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FIBTSX JO 48 13 
FtBTx Of 5J4al4J 
FtBT* pi SJ3el53 
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FFadAx J8b 25 8 

FFB 3.12 53 8 

Flntste £50 4.9 8 

Flntst pf 237 73 
FtMte 34 II 11 
FtNotn n 8 

FstPa 

FsIPapf 2J2 93 
FtUnRI 2J0 7.1 14 
FtVaHk M 3.4 10 
FtWbC 130 17 9 
Ftachb J5i 
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200 

232 

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239 

287 

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Fleet En 44 23 10 4773 


Rem rig 1J0 2J 13 
Flulpf 1JI T2J 


FlghtSf s .16 J 17 
FloafPt 19 

Fla EC .16a A 13 
Fla Pro 2.16 7J 8 

FkxStl 52 28 14 

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Flower J6 IS IS 

Fluor JO 13 

FoateC 220 4.1 33 X 

FortlM 2J0 5J 4 1 7299 


205 

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315 

163 

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126 

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FtOear 134 103 
Ft Hows 

FostWh J4 3J 13 

FoxPhot JB SJ 13 

Foxbro 1J4 43 
Foxmvr 16 

FMEPn l.lOe 63 
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FMOG 234020.1 5 _ 

FrpIMC JfH> 33 11 1758 

Frtotm JO 11 36 46 

Fruehi .70 13 6 

FruMpf 2.00 7 A 
Fuqua -4B 13 ID 


51 

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14 

107 

18 

304 

247 

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£43 

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601 


70% 68 
MV* 26 
9% 9% 

12 m 
10% 10% 
31% 30% 
11% 11% 
21% 31% 
14% 14% 
451* 45% 
OT* 20 
0% 81* 
4% «% 
46 45% 

50% 49% 
32% 32% 
37 36<* 

24V2 23% 
18 17% 

27% 27% 
16% 16% 
19% 189k 
67V* 66% 
30% X 
34 33% 

7% 7% 
36% 35% 
6% 4% 

31% 31% 
191* 18% 
27% Z7V, 
4tT* 39% 

34 35% 
46% 45 

3o a 14 
88% 88% 
12% 12% 
38% 38% 

35 35 
7% 6% 

27% 2b% 
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51% 50% 
31% 31 
SVk 7% 
31% 31% 
4% 6% 
27 26% 

20 27% 

26 25%. 

35% 34% 
25V* 24V* 
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39 38% 

23 21V* 

371* 36% 
12% 12% 
2TV1 23% 
X 32% 
41% 41V* 
29% 291* 
18% 18% 
5% 5% 
21 % 20% 
15% 14% 
54V* 53% 
49V* 47% 
131* 13 ■ 
49 47% 

12 11 % 
12% 12% 
24% 24% 
25% 24% 
18 17% 

10% 10% 
10% 10 
19% 18% 
XI* X 
21% 21% 
27 V* 27Vk 
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68 —2 Vi 
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9% 

11% + % 
10%— V* 
30%— % 
11%— % 
21% 

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45% — '* 
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32% 

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19% — % 
64% — % 
30k*— ■* 
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6% — % 

31% - 

19 — % 
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39% + % 
36 + % 

45V*— IV* 
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12 %—.% 
38% + % 

35 + % 

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7%— V* 
31% + V* 

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101*— % 
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19 
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37% 271* GAT X MO 3.9 

47'* 36% GATXpf 250 AJ 

51% 49V* GATXpf 4J3e&6 
32V, 41* GCA 

79 54 GE1CO 130 t3 10 

6% 3 GEO 
8 3% GFCp 

44% 38% GTE 
39% 34% GTE pf 

26% XI* GTE Pf 

IS 20% GTE pf 
7% 3 GolHou 
66% 43% Gonmrtt MS 

54 20% GaPlnc JO 

14 7% Georhl 

22% U% Gelcn 


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250 63 
230 73 
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18% 14% GAlnv _ 

62% 31% GnScth 130 1J 12 

39% 22% GCInm JO M 11 

38 72 GCinpf -56- 1J 

20'A 7% GnDoJa 

13% 9% GfiDeun 
3% 21* GnDev wt 
84 62 GnDyn 130 

651* 53 GenEI 

91* 4* GnHma 


19% ll!* CHons 
iflHOUS 


12% 8% Gi ... 

73 1214 Gnfnsi _ _ 

68% 47V* GnMIllS 224b 3 A 

59% 52 GMIBwl 

85 44 V* GMat S.00r 73 

46% 16% GMtr E .151 A 

tJ!* 36 GMotPf 3J5 



220 


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19% 

261* 

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10% GPU 
58V* Gen Re 
6 GnRetr 
37 Gn Stent 
21* Gen sen 
8 On Rad 
19 Ganitg 
28% GenuPI 
27% 20% GaPoc 
37% 33% GaPcpf 224 ... 
24% 33% GaPwPf 330 11 J 
XI* 25% GaPwpf 244 121 
31% 27 GaPwpf 176 1Z4 
23% 19 GaPwpf 256 11J 
2316 18% GflPwpl 252 115 
261* 72 GaPwpf 2J5 107 
68% 57% GaPwpf 7 JO II J 
39 23% GerbPd 132 3 A 15 

23% 12% GerbSc 
31% 14% Getty s 
12% 8% GIANT 
12% 5V. GfbrFn 
27 16% GIHHill 

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*M£X aricei ’ p.u | 
AMEX Mttrintjv*p.14 I 
NYSE PdCH p. B < 
NY56 niottt.Tiws p 10 -. i 
Conoftm jaocki P.14 * 
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THURSDAY, NQVEMJBER J 4 , 1985 . ~ 

WAU STREET WATCH 

Dow Blue Chips Charge 
Ahead in Market’s Surge 

By EDWARD ROHRBACB 

International Herald Tribune 

N EW YORK — Charge! Flags. flying and sabers slash-, 
ing, those big capitalization blue-chip stocks that dom- 
inate the Dow Jones average have been thundering 
, on tbe stock market But as Laszlo Birinyi Jr. of 

pbserves: “A lot of the troops aren't following 

In lhe DoVs surge to new highs os Monday, he added, the 30 
industrial stocks in the aver- 
age accounted for 12 percent ^ . 

-of the volume on the New . iMTiliyi 8 ailvloe 18 

T»y*e new high 

S&P 500 and NYSE compos- the newldWS.* • 

ite indexes rose to aH-time - • 

highs. , : . 

xt An ji last week, while the Dow was positioning itself for 
Monday’s big offensive by advancing 34 points, more stocks in 
me over-the-counter market — 706 — touched new lows than the 
617 that reached new hig h g . 

Mr. Birinyi, while not particularly impressed with the market’s 
backbone, sees a “massrve” amount of firepower available to 
WaH St reet, largely generated bv corporate stock repurchases, 
mergers and leveraged buyouts, totaling dose to $100 billion. 
Moreover, he thinks the big guns of the institutional investors, so 
far outmaneuvered by the market again in 1985, wiD be trained 
on stocks as the year’s end approaches in an effort to polish their 
performance records. 

“But it’s a dilemma for them," he said. “Do you buy a stock 
like Merck, up so strongly, or a Schhiroberger, that’s done 
nothing" • 

His advice is to stick with the battle plan that has been 
successful this year, namely to “buy strength' — buy the new high 
list and. sell the new lows." 

T HE FACT that wdl-known names have been HfwniyiaKng 
Lhe most-active list is died by Robert Stovall, president of 
Stovall-Twenty- First Advisers, as proof that the heavy 
action on Wall Street has involved the Dow-type stocks. 

He thinks those stocks are moving partly because of the 
“renewed hope” for stronger corporate earnings. “If you think a 
pickup in earnings is coming the place to be on Wall Street is in 
stocks sensitive to the economy - — and the giants live in the Dow 
30," he said* noting that about 15 percent .of' the U.S. gross 
national product is represented by stocks in the index. 

Frank Korth, market watcher at Shcarson Lehman- American 
Express, observed that the relatively low number of stocks on the 
new high list as the Dow marches forward shows “thinness’- in 
the advance. New highs have been about 100 stocks lower a day 
than they were during the last market rally in July, he noted. 

“It shows that much of the damage to the market since summer 
hasn’t been undone," he said. “The average stock still has not 
gone above its July peak." 

' Yet he thinks “real broadening" is developing on Wall Street, 
witnessed by the big marg in of advancing stocks over declining 
ones this week. 

But be sees no evidence that individual investors have lef Lthtir 
rearguard positions. While Sheargpn’s institutional business has 
. tripled this yckr,hftsaid. thefirmVjetajl accounts, second largest 
in the industry, have su f fetod'net liqmdatipn ih‘1985. • 

“That shows why the secondary issues are st£Q so weak, those 
S5 to $20 stocks the small investors tend to buy,” - 
Mr. Korth said he was surprised that the current rally had 
come this far. “l,450is probably as high as I can see it going” be 
said. ... 

“While 1 don’t expect the stock market to roll over and die 
here, it is extremely overbought and needs some rebuilding. I 

(Continued on Page 15, Col I) 

| Currency Bates 

(Crow Rate* AW n 

S t DM. FJF. 1U, SWr. W=. JLF. ran 

UTKIerttwi 29» 4371 11254- 14. w- 0.1649* 19* 137,45 * 14441 y 

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Frankfort 14107 arm — sues- ubi* oujs* ajh* m.w» U84s« 

UMMlon CHI L4245 3J233 1134 10538 4.195 K.I7I 3055 29075 

Milan 134220 2587J0 ' 47530 22189 — 5*981 32455 824.12 8848 

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Zurich 21418 10499 82025 ■ 24.925 ’ 0.1214- 72815- 44591- 14BS- 

1 ECU U456 W*M £2099 83258 18W.M 24*47 445*04 1J0M 772504 

1 SOH . 187474 035753 241105 L54224 149739 11845 5474*6 NjQ. 2201409 

Cfasioas to London andZivJcn. Hainan in otner European centers. New York rotas of 2 PM. 
to) Commercial Irene (PI Amounts needed to buy one pound (el Amounts needed to Buy ana 
dollar ft Units of ICO (*} Units of UXX ly) Units of UUOONjQ.: not mated: NAj not available. 
t*I To bur one pound: SUSJ4M5 

other IMQar Values 


llcralb^Sribunc 

BUSINESS/FINANCE 


W Posts The Big Mac Arrives in Mexico 
24% Rise McDonald’s I & 

t T* ■ TV * SeesMarketfor 
-HS ilCt More Expansion 


Swings to Profit 
In 9-Month Span 

By Warren Gcder 

International Herald Tribune 

FRANKFURT — Volkswagen 
AG on Wednesday reported a 
sharp increase in its third-quarter 
earnings and is expected to double 
net profit this year. 

VW, West Germany’s largest 
' automaker, said third-quarter net 
rose 24 percent from a year earlier, 
to 143 mini on Deutsche marks 
($54 .5 nrillioii), from 115 milli on. 

World group sales in the latest 
period totaled H-63biUion DM. up 
15 percent from 10Ll billion in the 
year-earlier period. 

The strong profit expectations 
for the full year were prompted by 
VW’s turnaround in world group 
results to a net profit of 424 million 
DM in the first nine months from a 
47-miHi on-DM loss a year earlier. 

For the whole of 1984. the com- 
pany earned 228 milli on DM. 

Nwe-month sales climbed 20 
percent to 38.63 billion DM from 
32^9 billion DM a year earlier. 

World group sales benefited 
from strong foreign demand, VW 
said. Company officials said they 
expect 1985 iwenue for the VW- 
Audi group to reach 52 billion DM, 
compared with 45.67 billion in 
1984. 

An auto industry analyst at a 
major West German commercial 
bank said VWs third-quarter earn- 
ings exceeded their expectations by 
some 20 million DM, putting the 
group squarely on course for a re- 
cord year. Earnings for 1985, the 
analyst said, could easily show a 
gain of more than 150 percent. 

“Considering that VWs fourth 
quarter traditionally has been its 
strongest, we could see VW’s full- 
year net earnings rise to 550 million 
DM to 600 million DM this year," 
die analyst added. 

Higher volume sales to export 
markets, particularly the United 
States, have accounted for the bulk 
of VW's surge in profit this year. In 
the first nine months, foreign sales 
rase 18.5 percent to 1.22 million 
units, while domestic sales rose 
only 3.6percent to 525,000 cars. 

“We’re convinced VW-Audi trill 
be die dear European market lead- 
er in 1986," San] ay Dabysing. an 
analyst at London-based Data Re- 
sources Ina, said. “This year, VW 
will probably pull just ahead of 
Fiat as market leader, but next year 
lhe gap will widen as VW continues 
to increase both market penetra- 
tion and volume in important Eu- 
ropean markets," he added, 

Volkswagen’s shares on the 
Frankfurt Slock Exchange dosed 
Wednesday down 1.10 DM, to 415 
DM. 


By William Stockton 

AVw J’crt Times Srrrue 

MEXICO CJTY — McDon- 
ald’s Big Mac came to Mexico 
this month, causing traffic jams 
as hundreds of Mexicans lined 
up to buy hamburgers, but with 
chili sauce instead of ketchup. 

As police managed traffic, 
customers lined up 15 deep at the 
counter and waited upward of an 
hour outside on. the first day of 
business for the first McDon- 
ald’s in Mexico. 

More than three years of plan- 
ning went into this inaugural, in- 
cluding the creation of a supply 
system based entirely in Mexico 
that provides everything from 
russet potatoes for the french 
fries to chocolate-chip cookies. 

The opening came at a lime 
when the grand daddy of fast- 
food chains has so insinuated it- 
self into the American landscape 
that it is increasingly looking to 
other countries for growth. 

Mexico, one of Latin Ameri- 
ca's most populous nations 
(more than 75 million people), 
where many are already familiar 
with McDonald's Corp.’s golden 
arches and other Americana, 
seemed a natural for the chain’s 
expansion. McDonald’s already 
has restaurants in Panama, El 
Salvador. Costa Rica, Venezuela 
and Brazil 

Robert Keyser. a McDonald’s 
spokesman at the company's 
Oak Brook, Illinois, headquar- 
ters, said the company had not 
been in Mexico earlier because it 
had “an emphasis on other ar- 
eas.” Wh3e McDonald’s is in 
more than 30 countries around 
lhe world, it has concentrated on 





fa/iMli! 


The AaHoawd fte a 


The McDonald's that opened this month in Mexico Gty. 


Japan. West Germany. Australia 
and Britain. 

There are several outlets in the 
works in Mexico. A second res- 
taurant is to open in the fashion- 
able Polanco section of Mexico 
City in December, and a third is 
under construction in Monter- 
rey. a major industrial city 400 
miles (650 kilometers) to the 
north. 

Mexico represents a large po- 
tential market for McDonald's, 
said Patrick J. Flynn, a company 
senior rice president in charge of 
Latin American operations. But 
he added. “We'll take it one step 
at a time here.” 

A potential problem is prices. 
Although McDonald's may offer 
a budget meal for the American 


family eating out, in Mexico, 
where the typical blue-collar 
worker earas'abont 100,000 pe- 
sos (or $205) a month, dinner for 
four aL the upscale end of the 
menu in an American fast-food 
restaurant would cost nearly 6 
percent of one month's wages. 

McDonald's is pricing its ba- 
sic hamburger here at 250 pesos, 
or about 50 cents. A taco, similar 
to what is available at a Mexican 
restaurant in the United States, 
costs about 100 pesos. A torta, or 
bread sandwich of meat, cheese 
and vegetables, costs about 200 
pesos. 

The Mexicans Lhat jammed 
the restaurant on opening day 

(Continued on Page 15. Col 4) 


CBS Has Swing to $ 114-Million Loss 


Untied Press International 

N EW YORK —CBS Inc., labor- 
ing under the debt it assumed to 
foil an unfriendly takeover bid by 
Ted Turner, reported Wednesday a 
third-quarter net loss of $ 1 14.1 mil- 
lion, compared with a profit of 
$48.8 million in the like quarter of 
1984. 

Bales totaled SI. 12 billion, up 4 
percent from $1.08 billion in' the 
year-earlier quarter. 

In the 1984 quarter the loss from 
discontinued operations was only 
$7.2 million and net inoome yielded 
$1.64 a share, compared with a net 
loss this year of $4.55 a share. 

Per-share operating earnings for 
the 1985 quarter sagged to $1.06 
from $1.88 last year, reflecting 
“weakness” in the broadcast adver- 
tising market and “continued soft- 
ness in the domestic recorded mu- 
sic marketplace,” CBS said. 

Operating revenues for the quar- 


ter dropped to S95.8 million from 
S123.5 million. 

For the first nine months of the 
year, CBS posted an overall loss of 
$28.1 million, or $1.06 a share, 
against a profit of $176.3 million, 
or $5.93 a share. 

Sales declined 10 percent to 
$363 2 million from $4032 million 
in 1984. 

The loss from discontinued oper- 
ations deepened this year to SI 75 J 
million from $28.2 million. 

Thomas Wyman, chairman and 
chief executive officer, detailed the 
losses from assets the company has 
sold to lighten a debt burden in 
excess of $950 million. 

He said a “second phase" of as- 
seL6ales over the next year “is ex- 
pected to generate substantial ad- 
ditional cash and to result in net 
gains." 

But Mr. Wyman added lhat de- 
spite this and expected improved 
operating results for re m ai n i n g 


businesses — essentially broadcast- 
ing, recorded music and publishing 
— overall results “will be deter- 
mined in large measure by lhe com- 
pany’s debt level and interest ex- 
pense and the magnitude and 
timing of asset dispositions." 

CBS ran up its debt in warding 
off a takeover bid by Mr. Turner’s 
Atlanta-based Turner Broadcast- 
ing System Inc. 

It announced a $300- million “as- 
set disposition program” on July 3 
in conjunction with an offer to re- 
purchase 21 percent of its out- 
standing slock. 

The largest of the asset sales re- 
flected in the third-quarter loss, 
Mr. Wyman said, was CBS Toys. It 
represented a loss of SI 14.6 mil- 
lion, net of taxes. 

Discontinuance of theatrical 
film operations, including an inter- 
est in Tri-Start Pictures, resulted in 
a third-quarter loss of $21.1 mil- 
lion, net of taxes. 


Spain Seeks to Gear Up Economy for EC Entry 


Currency per uss 
Arsen, austral OBO 
AnafraLS 15207 
AuStr.xM. 1&35 
BeJa.fln.fr. sub 
B razil croT. BJ60JM 
Canadian t 13791 
Cblnen won 12015 
Oantsn Krone 9 AM 
Egypt, pound 135 


CwrenCT pet 
H 11 . markka 
enudrac. 
Hang Kong s 
- Mflan rupee 
fwta.rapjafi 1 

I rime 

itraeO itiek. 1 
Kaunffl diner 
Malay, rtna. 


Currency per UJU 
ttH-PfM 49000 
Non*, krone 7J57 
PUB. pete 17JB 

Port, escudo 16UJ0 
Saadi rtyol 1*513 
SMslS 2.1135 

S. Mr. read UB46 
S. Kor.umn 89050 


Currency per 
Soviet ruMe 
Spon-pofehi 1 
Saved. Krona 
TMwaai - 
Thai Dalit 2 
-Turku Bra S 
UAE dirham 3 
Venez. Mhr. 


ESterflna: 1204 irfsJi c 

Sources: fianqur db Benelux {Brussels); Banco Commercial* liollana (Milan); Chemical 
Bath {New York}: Banoue Nattanale de Paris [Paris/: Bonk of Tokyo {Tokyo}} IMF tSCR): 
BAJt tettnar. riyaLdbuant I: Cosbank (ruble}. Other data tom Reuters ondAP. 


Interest Rales 


Eurocurrency Oc powlta Nov. 13 

5 wlu Freocfi 

Del lor D-Mark Franc SfertlHB Franc ’ BCU SDR 

1 mOMD 7 >kr4 U. <*.-«» 3W-3*w I1MH. Ml* Ife-tM. 7U 

1 months 7Hr«W. 4Ub-4M> IMH, 11 Ur-11 W. 9MH9U BlWBfc 

3 man tbs 7’HrdVw 41V-4 0* 4IW4fc 11 tk-11 Ik 9I4-9M BMrBK 79U 

6 monllts 7VW8H. 446.MV 4«4-4*t 11 »k-ll <M. 1QU.-1DW BVy-Mt 7 Ml 

lvear BYk-au. 4W-S im*. liv-li*. lmfe-Wh fMh 7 % 

Sources: Maroon Guaranty (doHar. DM. SF. Pound. FFi; Lloyds Bank (PCUi; Reuters 
ISDR). Rales applicable 10 interbank deposits off! million minimum lor eqolvateat). 


S&y Money Raws -V*. 13 
United stalls dose Prm - 


United Stain 
WicMof Rale 
. Federal Food* 
FrtsMBafe 
■raker Loaa Rote 
Com Pnoer ft- it? tart 

3-awm Treasury BJiu 


7VS 7ft 

I 4 

Oft 9ft 

9 9W 

730 MS 

731 7.19 


tmuntbTmcurr BUb W 1 ^ 

CODt-sfden 7 - s ® 1S0 

CD-ftUJfOBrS 130 J-* 


WWSenaaar 

Lombard Rote 


Oiumpu Rote 
OmtMoeni Mertnnk 
hnontt tnteraank 
J-roootn letertwet 

Frame 

- fnlervenffaii Rale 

CM Money 
Oee-monfli Interbank 
Smooth Interbank 
fBMOfu limp et 

trheto 

Book Bate not* 

Can Monty 
VtoarTraamryBin 
l-aaonlli uutrenefc 


DdawntRnte 
an Mnnr 

te-doT bartraank 


53 0 SJO 
in. iss 

430 6Jd 

■4M 

4.96 4.90 


9ft »ft 
Oft 9Vi 

91/16 •» 

Oft 9^ 
9>k 93/U 


ir-* 11 ft 
11 hi 
nj/ii 113/te 
17 5/32 11 3/14 


S i 
Pk TUi 

79 k 711 / 1 # 


Awl— PaBar Pcpaal tH 

Jibe. '13- 

1 raentti 1-811 

2 m oaths 8 -lft 

Siaarlttat 6 -DA 

4 months e-eft 

1 year lh-1*- 

Soares: Reuters. 


UJS. Mosey Market Fsude 

Ab e. 13 

IMrrW t-vw3» Mady A«MM 
3d day overd y e yua; TJ9 . 

Tefeote Inferest Rciie riwHui: 7509 
Source; Merrill L ynch. Teienriy, 


Ketaets 

MADRID — Spain is trying to 
shape up its economy for the com- 
petition it will face in the European 
Community after it joins in Janu- 
ary. 

The socialist government of 
Prime Minister Felipe Goozhlez 
has been gearing up for member- 
ship since 1982 by taking steps to 
modernize the economy and tackle 
inflation and balance of payments 
problems. 

But many businessmen and 
economists say it may be too late, 
with foreign companies buying up 
weak local companies and some 
concerns Hkely to fail after commu- 
nity entiy. Socialist Party sources 
say business has failed to adjust to 
current needs. 

On the surface, the progress of 
economic reforms seems impres- 
sive. Inflation is now at 7 J percent, 
down from 14.2 percent in 1982. 
Spain’s balance of payments on its 
current account showed a 400.5- 
billion peseta (52-5-bfllioa) surplus 
last year, against a 320/1-billion pe- 
seta deficit in 1983. 

The current account measures 
trade in goods and services as well 
as interest, dividends and certain 
transfers. 

In addition, the government has 
implemented a 1 -trillion -peseta in- 
dustrial restructuring program, 
trimming 50,000 jobs in faltering 
heavy industries- It has created a 


new state oil holding concern and 
introduced investment incentives. 

These incentives include expro- 
priation rights, low-cost financing, 
for plant and other capital invest- 
ments and tax holidays. 

Despite the efforts, party sources 
said that in the 10 years since the 
death of Franco, Spanish leaders 
failed to overhaul the economy as 
was required. 

Business had been sheltered by 
almost 40 years of protectionism 
under Franco and then suffered a 
corporate cash crisis following the 
oil shock of the early 1970s. Busi- 
nessmen had failed to adjust to the 
demands of the country's fledgling 
market economy, the sources said. 

However, the economic planning 
secretary. Miguel Angel Fernandez 
Ordonez, said that businesses have 
begun to invest because the govern- 
ment has laid the groundwork for 
recovery. 

Mr. Fernandez Ordonez said pri- 
vate-sector capital investment rose 
5 percent in the first nine months of 
1985, the first real rise since 1975. 

He was not concerned by multi- 
national penetration of Spain’s 
economy, as exemplified by its fu- 
ture community partners buying 
op businesses in Spain. “Foreign 
companies have helped ns to mod- 
ernize and acquire know-how 
which we will need as an EC part- 
ner,” he said. 

“The problem is that Spain has 


no companies like Renault or Oli- 
vetti,” he added. 

Foreign inroads have been made 
into the food industry, one of the 
few sectors that could compete 
within tire community. 

“Foreign food companies now 
account for 50 percent of the indus- 
try’s sales,” Carlos Guerrero, a 
food industry analyst, said. “In 
three years time they win control 90 
percent of the market.” 

Switzerland’s Nestle SA, the 
Dutch Doewe Egberts Group, 
Denmark’s United Breweries and 
Lesieur SA of France have moved 
into the meat packing, brewery and 
edible oils sectors. 

Of the six manufacturers in the 
automobile industry with assembly 
plants in Spain only Sodedad Ex- 
pand a de Turismo, or SEAT, has 
majority Spanish ownership, and 
SEAT is on the verge of selling out 
to Volkswagen AG. 

Multinationals such as Beech am 
Group PLC of Britain now control 
almost 60 percent of Spain's phar- 
maceutical sector. 

In banking, international majors 
have cornered 15 percent of the 
industry’s lending assets since 1 978 
when the government lifted a ban 
on foreign branches. 

The socialists have lifted almost 
all restrictions on foreign invest- 
ment to attract capital and know- 
-how. 

This is a reversal of the policies 


of the 1960s and early 1970s, when 
Spain enjoyed the second highest 
growth rate in the industrialized 
world after Japan. In those years 
businessmen aimed mainly at the 
domestic market and neglected for- 
eign trade. 

Bui if the government appears 
willing to allow foreign companies 
to play a major role most indus- 
tries, it is keen to protect its oil 
industry from foreign domination. 
Ministers hope that by creating the 
INH stale bolding company and 
breaking up Spain's CAMP^A oil 
monopoly, this sector will compete 
favorably in EC trade. 

A former finance minister, Mi- 
guel Boyer, who is now chairman of 
the state export financing bank 
Banco Exterior de Espaila, said 
earlier this year EC membership 
would have a negative effect in the 
short term. 

“The first three years will be a 
severe blow," he said. “Spanish in- 
dustry will be required to make 
major sacrifices." 



Souren; /tenters, Commwsbabk. ersaa 
tKHH dOaak d Tokyo. 


Nat.13 

OJA. PM. Ol<BB 
HMH) Kong S 24 JO BUS +158 

LmraBriMoru 32441 — - +148; 

parts mSKHO) 32454 -32U1 +1J» 

TLirtcn 3243S 3&2S +130 

Tendon SUM T>U 9 +\ 5 » 

MS« . . +IU0 

Luxembourg Paris ond London official ild- 
Inps: Hunt dm bad Zurich tnmdnBaU 
rip'jna arias; New York Comu current 
contract All prices in UJL S Per bunco, 
source: Reuters. 


ATTENTION - WANTED 
STONES FOR 
COSTUME JEWELRY 
8pp to 24pp and 28ss 

GERMAN * AUSTRIAN * CZECHOSLOVAKIAN 
MACHINE CUT - LEAD CRYSTAL ONLY 
NO COLORS, PLEASE 

U.S. A. MANUFACTURER NEEDS YOUR INVENTORY 

TELEX; 952035 1-401-467- 2620 

INTERNATIONAL RING CO., INC. 

83 BYFIELD STREET 
WARWICK, RHODE ISLAND U.S.A. 02888 


MANAGED CURRENCIES 
PROGRAM 

PERFORMANCE RESULT 
FO R BEGINNING EQUITY OF 

$ 10,000 

JANUARY 1st 1985 

HAS BECOME 
$ 26,067 

NOVEMBER lot 1985 
AFTER All COMMISSIONS 


NEXT B£SUt7 N DECEMBER 14th ISSUE. 
IS NO MANAG£#»WT FEE 

PAST PERFOftMANCE IS 
NO GUARANTEE 
OF FUTURE PStFCKSWNCL 


Pieaeconaa 
QGvier Deiafon 
A FYesdcnr 

H^hjttxm 

«3, Acme Macaw 

7511* MBS - FRANCE 
TeL- (1)47-2^61-51 
Tdo: 63*75. 

fOd non fit&uCH Psm&jTs on y. 


U.S. Stocks 
Report, Page 8 

Page 9 


Delay Planned 
In Resumption 
Of Tin Trading 


LONDON — The London Met- 
al Exchange, bowing to pressure 
from bankers and metals brokers, 
decided Wednesday to extend its 
suspension of tin trading to allow 
more time to put together a rescue 
package Tor the industry, metals 
traders said. 

The decision to postpone next 
Monday’s reopening followed a 
meeting Tuesday night at the Bank 
of England at which traders were 
briefed on a refinancing package 
being proposed by about 35 banks 
to rescue the International Tin 
Council. Traders said the package 
could total £900 million (51.25 bil- 
lion). 

Tin trading on the LME was sus- 
pended Oct. 24 after the Interna- 
tional Tm Council, a group of pro- 
ducing and consuming countries 
that was the biggest buyer in the 
market, ran out of funds. 

ImpatienL with the lack of pro- 
gress in ending the crisis, the LME 
said last week that it would resume 
tin trading next Monday although 
industry sources feared that re- 
opening the market without a fi- 
nancing package might send tin 
prices plummeting. 

Given the ITCs repeated failure 
to guarantee its obligations to cred- 
itors and tin traders, estimated at 
almost a £1 billion, all the parties 
agreed that the LMEs Monday 
deadline was unrealistic. It is now 
believed that the sums or money 
involved are so large that the ITCs 
22 governments will still not be 
able to make final decisions when it 
meets Thursday. 

Adam Ridley, a spokesman for 
the group of 16 financial institu- 
tions that are creditors of the Inter- 
national Tin Council, said Wednes- 
day afternoon that the croup was 
prepared to propose a financing 
package lhat would involve more 
banks. 

“We are working on proposals 
that would involve some kind of 
large facility in which other banks 
would take part,” be said. He said 
no structure had been determined. 

He would not say how large such 
a package could be and added that 
a figure would be difficult to deter- 
mine until more precise informa- 
tion was available on the ITCs 
operations. 

He said, however, that “initially, 
substantial cash flow would be 
needed.’* He said the ITC owes 
£352 million to the group of 16. 

Mr. Ridley said a financing 
package could include extension of 
the original £352-million credit, a 
short-term facility to unwind for- 
ward contracts and a longer-term 
facility with a definite term. He 
said any solution would require the 
ITCs member governments to ac- 


cept responsibility for past and fu- 
ture losses and financing needs. 

‘He said that, should the group of 
16 be unable to work out a solution 
with lhe ITC, the ITC could be put 
in default, although that would be 
“way down the line.” 

He also said there was need for 
speed in finding a solution. 

The pressure on the tin commu- 
nity to end Lhe crisis quickly was 
increased when the government- 
owned MMC Metals of Malaysia, 
one of world's largest tin-produc- 
ing countries, announced earlier 
this week that it was suspending its 
LME dealings. 

Nearly 100 mines in Malaysia 
have closed, temporarily putting 
about 4.000 miners out of work. 

Crisis Shows 
Dangers in 
Price Support 

By David Axtcll 

Reuters 

LONDON — The failure of the 
International Tin Council to act 
quickly to resolve the world’s tin 
crisis has exposed potential haz- 
ards facing all international agree- 
ments designed to stabilize com- 
modity prices, according to 
analysts and diplomats. 

The International Tin Agree- 
ment is the oldest of such pacts and 

NEWS ANALYSIS 

has enjoyed the reputation of being 
the most successful. 

But the current chaos in the tin 
market, triggered when the council 
ran out of funds to continue prop- 
ping up prices above free market 
levels, highlights how difficult ii is 
for such agreements to resist the 
laws of supply and demand for 
long. 

International commodity pacts 
are coming under closer interna- 
tional scrutiny. The United Stales 
under President Ronald Reagan 
has grown increasingly lukewarm 
toward the idea of tinkering with 
market prices. 

But analysts say neither com- 
modity consuming nor producing 
countries would benefit from the 
vacuum and rapid loss of good will 
Lhat could follow the demise of 
such attempts at international co- 
operation. 

The main lesson to be drawn 
from the tin crisis is that any type 
of commodity pact is only as strong 
(Continued on Page II. Col. 3) 


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Pap* 10 


INTKKN VriONAL IIKR MJJ TKIBl'Nfc- Till RSDAY. NOVEMBER 14, 1985 


VVednesdaji 



Closing 


Tobies include the nationwide prices 
up to the closing on Wall street 
and da net reflect late trades elsewhere. 


17 Monln 
High Low Slock 


Otv. vis. PE 


Sb. 

iQIKHigii Low 


Cto» 

Cuoi Cnee 


(Continued from Page 8) 

5?* NSPwpl 4.10 IQ3 
41% 33H N5Pn of 4.11 1DJ 
68 56 NSPwol ban 10.1 
70% NSPwsf 8.(0 106 
<1% 31V. NorTri JO 
<V 2% Niheal s 
»i 31% Nonro U0 If 9 
S5 fl NwCPpt4.?4e 90 
24% 10% NwIPpf 250 10.4 
M 8 NwSIW 

IDO 57 13 


— l'A 

+ ’4 
+1 


40V. 32% Norton 
»ft 21% Norws> 

35 23 N«i 

4gft 28ft Nucor 

7% J NuIrtS 
*2% 72 NYNSX 6.40 


1002 3B JB 

100x 39 39 

11480: 67 M 

750Z S3 83 S3 

1530 34V. 32 'i ST* -1 

S7 J', 3V> 3^. — V. 

1113 46% 454* 45% — ft 

200 51ft 51V. 51% +!'•. 

1 34 >4 24 — Vi 

82 14 13% 13V.—- % 

_ . 578 35ft 35 35ft - 14 

MM frj B 1B8J 27% 36V. 37 

36c 1.1 10 411 35ft 34ft 74% — H 

.40 .9 14 220 49 47 47 — % 

m B8 42 4ft 44* 44*— V. 

7J) 8 1936 *? 91 91 — V. 


1? Mann 

HlflP LOU 


i'CC« 


DU ria PE 


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lift; men low 


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Ouri C" 9* 


31' ■ 16V, PSA JO 2.3 12 

J3ft 14'. PSAUM 1.90 90 

14V 12 Poe AS 1-54 10.7 

to'* 15U PaeGE 

46i. 37ft POCLIJ 

4/ « 2*'- 3 PCLUIP 

10 5'k Pec Res 

1«, 13 1 j PnrRsaf X00 IDS 
i?ft 12ft p<kSc‘ 4 u n 
65 PocTele 5.77 7 J 9 
15 »■« Pectin .40 32 7 

31ft 34ft Pori tea 3.40 82 

36 30ft Pncllof 4317 130 


184 9J 7 
3 .48 70 13 
120 V 35 
DM 5 10 


76 


1.7 


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63 13 
16 


108 

50 

98 

3778 

119 

548 


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7.1 6 


3ft lft Ooh/na 
36ft 2Sft OaHfeP 153 

35ft 23ft OccIPor ISO 

» »ft OcciPel 150 94 

57ft 48ft OeciPPf 635 10.9 

113 105ft OcdPoflS.50 14 A 

110ft 103ft a cel Of 1462 1X4 

38ft 19ft QOECO IJW 4.9 22 

34ft 25ft Ogden 130 50 19 

14ft 13 OhioEa 128 112 7 

37 28>* OnEdPt 444 12.6 

60 'A 48ft OhEapf 734 122 

62ft $0 Oh Ed nf 726 125 

67ft 55 OhEdot 830 125 

33 28 Oh Ed pf 193a B0 

29ft 24 OhEdPf 3-50 125 

31 ft 26ft OtiEdnr 292 123 

16ft 13', OhEdnl 150 11 J 

75ft 60ft OhEdPt 9.12 123 

71 57 OhEdPf 604 122 - 

I4ft 10ft OhMoIr 40 17 U 1457 lift 10ft 10!s— . 
71ft 56ft Oh Pel £04 J2I 504 66ft 66ft 66ft 

33 ?7«, OhppfH 335 I2J 3 30ft 30ft Mft— ft 

216* 17 OhPotG 2.27 114 3 20 l*ft 19ft— ft 

111ft 102 OhPplAlJJO 128 >60x109 108 109 +2% 

70ft 58 ‘A OhPDlD 736 11.1 tOz 70 70 70 

26ft 21ft OkkjGE 200 8.1 11 7001 24ft 74ft 24ft + ft 


740 2ft 2ft 2ft 
3l Wl r>'1 291S - ft 
1751 35ft 34V 35 — ft 
6 25ft 2S% 25ft + ft 
718 57ft 57ft 57ft 
79 107ft 107% 107ft + ft 
11 108% 108% 108ft 
2J7 aft w% aft— it 

668 34ft aft 33ft— ft 

2380 >6 15ft 16 

TOOz 36ft 35' lift * A 

100Z 58ft 5B% 58ft +lft 
5002 59 59 59 4-1* 

63ft U — ft 
33 33 -Mft 

27ft 28 — ft 

30ft 30ft 

. irV 16 + ft 

18000: 76ft 74ft 74ft t ft 
14450: 71 a 71 +3 


1070z 65 
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12 a 

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1.12 13 11 
S» 14 32 
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.16 1J> 14-1038 


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II 

675 

1291 

104 

29 

451 


41' . 25V. PoinWD 60 
34> ■ 251. Pair.Wpf2.25 
J* 72% Palm BC 901 
40 ' j 20ft PenABk .70 

8ft 4 Pan Am 

4 1ft ParA wl 

21 13% Panda n 30 

41Vj 32ft PonnEC 230 
24ft lift Person 

Bft 3ft PanlPr 
18ft 6ft Pardvn 
17ft lift Park-EI 

7ft 4 ParkDrl 
39‘: Mft ParkH 
23% 14ft ParfcPn 

5 3 PolPlrs 

ISft lift PayNP U 
23ft 12ft Pa.Csn .16 

lft \ PerKw 
S8% 64ft PonCen 
53ft 4«, prrmev 2J6 
27ft 23% PaPL 256 _ 

40ft U PaPL Pf 4 JO 11 J 
7BM 62 PoPLPf 800 lli 
2*ft 25ft RaPLdbr302 11.9 
27ft 22ft PaPLdcrZTO 10.7 
74ft 60ft PaPL if 840 11 J 
29ft »ft PoPLdPlUS 1 1.4 
31ft 27ft PoPLdprXTS 123 
70ft 57ft PqPt.pr 8.00 11.9 

75ft 62 PaPL Of 870 11J 

4 1 ft 34 Psnwrll 230 58 

2 5ft a Penwpf 10 O *,o 

SO a Pannxol 120 43 21 

16ft 13ft PraEn 1JO 6t 1 

26ft Mft Peaflvs J ill 

66ft 19ft PeosICo I3B 23 12 _ 

Mft 22't Perk El J6 2-0 15 3728 

9vj 7ft Prmton 1.12»143 6 722 

18 10ft PeryDs 581 

47ft 31 Petrie 1.40 3.0 17 317 

28ft 24ft PetRa 3.72*1 4il 45 

17"» 14ft PetRsof IJ7 93 50 

5ft 2ft Ptrlnv 30*243 46 

534. 37ft Ptlnr 1AB 

24 12ft FtwHoD 

34 Ptotppr Sin 51 


as*- 25ft 25 c. 

21 21 21 

I4'1 Mft Mft 

19ft ]4ft 144. 

4$ ' | *44. 444. — ft 

3B4i SB'S 3Bft - 'v 

10 9ft io 

19'.. 18ft 19ft + s. 

446 15 14ft 14ft— ft 

in a 78'- — ft 

1 12ft 12ft 12ft 

616 29ft 2*ft 29ft 

7 34 33% 34 


2*9 

10 

57 

2152 

340 

345 

282 


19 19 1772 JJi'i Mft 31ft + ft 


29ft 29ft 79ft + 

a ft 36 34 — ft 

ft 48ft 40ft + ft 
Bft 8ft BA — ft 
3 2ft 2ft 
. 17ft 16ft 16ft + ft 
7S9 37ft Mft 37 — ft 
635 24ft »ft 24ft +lft 
482 7ft 716 7ft — 16 
7ft 7 7ft 
lift 13ft 13ft— ft 
S 4ft 4ft- ft 
33ft 33% 33ft- ft 
23 22 22 —ft 

4ft 4 4 — ft 

12ft 12 12ft 
ISft 15 ft !5j£ + ft 

M 40i RVi Sift Sift— ft 
4J 10 1245 51ft 50ft 50ft— ft 
f J 9 1160 27 26ft Mft- ft 




10a 

224 29 
116 27 
lib 71 


’sr- 


40 40 — ft 

7Zft 72ft + ft 
26ft 28ft- ft 
26ft 27 + ft 

71 71 

28ft 28ft 
30ft 30ft + ft 
3102 67ft 66ft 67ft +1 
IlOx 74 73ft 74 
73 38ft a a — ft 
27 23A 23 23ft + ft 
954 47ft 47ft 47ft— ft 
272 18ft 17ft 18ft— ft 
r« 26ft 26U 26ft— ft 
857 


IjMaMft 
H4fiu«r s/oev 


lit/ *10 PE 


Sb 

10lh “raft LO» 


C.T» 

Gust Cnor 


a i I*'* Plesev 

19ft lift PocoPd 

39’ti 24- Poll'd 

it'- 10': POn<« 

21’ ; ISA PqdTqI 

22% Mft Portec 

Sift Mft PorfGE . 

74ft 14*. PorGof 2-60 107 

31 PorGot 440 129 

Mft 30ft PorGel 4JZ 12.9 


A*r 30 14 
AO 5* 
1.00 U 56 
40 J 34 
JO <4 12 
A0 3a 
1.40 9 0 9 


12 22 21'3 21ft — ft 

107 12ft 12ft 12ft— a 
634 3ft Mft B A - ft 
839 15'- l4*k 15ft + ft 
209 W 17ft 18 -»ft 
a 16ft 16ft 16ft— ft 
822 21ft M*i 21 - ft 

8 24ft 24% 24'A 

48 34ft 34 ’S 3418 — ** 

9 JJ*k 33 A 33ft— ft 


4Jft 28ft Pflllten 156 4J 15 1625 J7ft 36ft F4 — 1 


5.1 17 
17 

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19 17 2S11 
1.9 22 121 
16 IS 


BM> 
21'A 
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IDA 
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8ft 

S3 

71 

63 


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Mft 

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3-50 119 
1JM 116 
1JS 115 
7.15 118 
9.44 >44 
852 14A 
8.96 14 J 


66ft 66 66ft 
28ft 27ft 27ft 


7ft 7ft 7ft— A 
18 17ft 18 + ft 

47A 46ft 46ft— ft 
72 Uft 26ft— ft 
17V. 16ft 17 + A 

. M* 3ft 3ft 
10 15 4239 50A 49ft 50 - ft 
329 20ft 20ft »U — ft 


4.1 


9*'. 7ft OkloGot M 
37ft 28ft Olin 1J0 
10'* SVj Omncre 
17ft 12 On Mo JO 5.4 4J 

33ft 26ft ONEOK 256 BJ 11 
29 22ft OronRk 2.14 7.9 10 
>2ft 7ft a ranee 531 65 73 
31 20 OrlonC .76 25 

28ft 23 OrionCpil.12 
17ft 8ft Or Ion P 
9ft 6ft Orion of SO 
Mft 74 Orion pt 275 
31ft 19ft CkdixJM M 
40ft 24 OvmTr 
19 13 Ou5hla 

37 30ft OwenC 
53ft 38ft Owenlll 
Mft I Oft Oxford 


7.4 


50 

JO 

1-40 

150 


65 
9 3 

2.7 14 
21 M 
13 14 
CO 9 
3-4 10 
35 32 


400; Ut* BA aft + 'A 

374 37 Mft 36ft -6 ft 
47* 6ft 6ft 6ft 
27 14% Mft 14ft — A 
310 31ft Mft Mft + ft 
151 27V: 27 27 — ft 

S3 BA BA 8Vi 
438 30ft 29ft 30 A— va 
bi 28% a aft 
407 10ft 10ft ink— A 
4 7ft 7ft 7ft— ft 
27 3*. 28ft 28ft — ft 
446 24 A aft 24 — ft 

464 3812 38 38*s— A 

75 ISft 15 15*4 + ft 

453 35ft 34% 15 
349 52% 52ft 52ft — A 
66 Mft 14ft 14ft + ft 


37ft »ft PHH 
50 31ft PPG 


T4» 25 M 
Ui 35 IT 


218 36ft 3Sft 25ft— A 
562 SO 49ft 49V* — ft 


16ft 13 A Phi la El £20 M.l 
33 2SA PhllEOI 350 117 
29 PhilE Pf 4.40 125 
44ft Phi IE ol 750 125 
57 PhilE Pi 825 129 
9A PhilE ol 1-41 13.0 
Bft PhilE Pi 1 53 125 
Si PhilE Pf 755 111 
Bft PhilE Dt 128 12A 
110ft Phil of 17.12 14 0 


36ft 

56 

*• 

lift 

10ft 

61 

10ft 

126 


100 PnJIEpflS2S 135 
74 62 PhilE Pf 950 13A 

61 51ft PhilE pf 750 129 
M> 50ft PhilE Pi 725 112 
23 A 15A PhilSub 152 6-4 12 
95V. 72 PhllMr 450 S3 " 



50Vi 51 — A 


46ft 29 PhlbrS 54 U 21 6207 41ft 41ft 41ft— ft 


27 12 


15ft 15ft 
M 30 + ft 

34A 3416 4 A 
54 54ft 4- ft 
66ft 68 +1A 

10ft 10ft 
10ft 10ft— ft 
60 60 — ft 

10 10ft + ft 
120ft 122 —1ft 
50zl!0ft 110ft 110ft 
410* 72 71 71 

1490* 61 60 60ft— ft 

ISOz Mft 58ft 58ft— ft 
10 20ft 20ft 20ft + ft 
66M 77ft 76ft 76ft— ft 
475 27ft 22ft 22ft — ft 


26ft 15ft Phltoln AO _ ^ 

18ft lift PhflPts 1-00 77 II 8113 13M 13 13 - ft 

25V* 22ft PhIPtpf 1.04*45 2894 24 23ft 24 + A 

30% 20ft PhllVH -M 1-4 14 437 299* 28ft 29A + A 

35% 25V, PledAS 58 .9 8 1322 Mft 12ft 32ft -I- ft 

34 77ft PI*NG 232 7.1 12 4 12ft 32ft 32ft 

25ft I4H Plar 1 14 SB IMS 

63V* aft Pllsorv 1.72 10 13 609 5Bft S7A 58 — ft 

34 21ft Pioneer 124 s.1 13 1969 Mft 23ft 24ft + 16 

26ft 13ft PlonrEl J38e 5 72 ISft 15% 15ft 

45*. aft PilnvB 120 27 15 1067 45ft 45ft 45A— A 

91 66 PitnBpf 217 23 12 90ft 90 90ft + ft 


Mft 

21 

19 

12ft 

13ft 


9ft Pitts hi 
17 PlanPt n 
9ft PlonRi 
7 Plontm 
7A Ptavbov 


20 l.i 16 
.T6P U 13 
74 


185 13A 12ft 12ft— A 
129 17 a 16% 16ft — ft 
661 18ft 18V* 18ft 
67 17ft T2A 1216 
67 BA 8ft 8ft — ft 


108 Ml Palin? 0(1227 nj 

34 23ft PpimEI 2.14 46 9 

Mft 37 Pot El Pf 450 102 

41ft 33 FofElPf 4JU 101 

25Vi 14ft Premls » 1-* 19 

43% 31ft Prlmrh 220 

20ft 14ft PrlmcC 
37A Mft Prim** s D» 

67ft Mft ProcfG 250 

15 8 PrdRsi 30 

45% aft Pralcr 1.40 

2ft 3 PruRC n 

t Prvflin 
IB PSuDM 200 _ 

17ft PSColpf 210 10-4 

6ft PS I nd 1.00 11 J 

21ft PSInpf 
6% PSInpf 
7 P5ln Pf 

41 PSInpf 

62ft PSInpf 
48 PSlnof 

51 PSInpf 

3ft PSvNH 
8ft PSNHPl 
8ft PNHPfB 
34ft 13 PNHofC 

» 11% PHH DID 

23 A lift PNHPfE 

19ft «i PMHofF 
20ft 10ft PNHPIG 
29ft 22ft PSvNM 292 10-4 
32ft » PSvEG 1*4 97 
IS lift PSEGPflJO 10J1 
39 31 A PSEGpf 4.18 102 

<0% 31ft P5EGPf 4J0 10A 
49ft 39 PSEG Pf 528 10.9 
20% 16W PSEGPf 217 105 
66 SDft PSEG Of &80 105 
M A 18ft PSEGof 243 105 
aft a PSEG Pt 750 107 
71 55ft PSEGpf 752 105 
2ft Pubhck 

9A Pueblo .16 15 12 

6 PR Ccm 6 

lift PueetP 176 11J 7 

6H PulPfn 


9000x109% 109% 109ft 48% 
442 Mft 33ft 32ft 
1602 44 44 66 

IlMitf 39ft 40 + ft 

49 25ft Mft 25ft— ft 
82 43 42ft 42ft— A 
3864 19ft 19ft 19A— A 
530 36ft 36A 36% 

461ft 6 5ft 65ft— ft 
Mft 16ft Mft— A 
2 38ft 38%. 38ft- ft 
67 r.k 2 2 

6i tft i jn + % 

2S9S 20ft 20 VS 20ft 
6 20 A MV* ZM»— A 
9 415 8ft 8ft Bft— ft 

400x 24V. 25% 2SA— ft 
470: Bft Bft Bft + ft 
170: 8 88 

100* 52 52 52 *7H 

150: 46% 6SA 65ft— ft 
30* 59A S9ft 59A 
400*4116 blft 41ft 
3 673 8 7ft 8 

ZS»Z IJft 15 15ft + ft 
4 15ft 15ft 15ft 
16 23A 23V* 23% ± ’it 
9 VM 2W* 20ft + ft 
42 21ft Z1A 2TA + A 
32 18U 179* lift + ft 
75 20ft 19ft 20ft + ft 
9 254 28ft 28 28ft— ft 

8 2583 31 Mft 30ft— ft 
8 14 13ft 14 + ft 

9600x 29V* 39 19 

1200* «0ft 40% 40% + ft 


540: «vi 48ft 4gw + ft 


12 Month 
He* Lift, StK» 


Div. no PE 


sis 

UDiMOhLM 


CJ6M 

(Mei. Chee 


3J 17 
37 


JO 


24 15 
5 


12% 7 Reofiin 

i*t* 8’. ne*ce 
I'- A Peool 
43'« 77ft ReichC 
10** 4ft RepAir 
3 I A RBPAwt 
12ft eft ReOves 70 3i 10 
sift M RcpHY IA4 X3 9 
23ft 14 RNYpf 217 9 3 
27ft 23ft RNYefCl.12 T1J 

57ft S3ft RNYPfA624eHJ 
Mft Mft Rrcflh 154 57 7 
30 73ft RrpBk Pt2.12 77 
25% 15V* RlhCOI J2 U 
29vs 22V* Revco JO 
17ft 10% Revere 
SB 37ft Revlon 1J4 37 18 
l»ft 93 RvInalQ 9J0 9.1 
SA 17ft Raxiun 70 25 16 
15ft lift Rexnrd M 17 9 
32V* Mft Revtilns 1-48 55 6 
50 47% Ravin Pf 4.10 &2 

112W 103ft Ravin pnt50 10J 
131 TZP* Ravin Pfl29b 10 a 
41 A 30 RavMII 1J0 35 
84% 94 R6VM pf 270 SJ 
aft 21ft RltOAJd JQ 10 16 
7% 2ft RvrOkn $6 

36% aft Robstiw 770 X4 I 

41ft 21 Rodtvi 1701 

34% 5ft viRebfais 
24% 17% RedtG 270 97 6 

42% 21 Rocfin M u r 

23% 10 RckCtrn 

41ft 29 Rodcwt 1.12 3.1 9 

73 55ft RotunH 270 37 11 


11 
15 31 
A 23 
34 18 


70 40 Rotirln 

27ft 15% RofnCm 

lift 6ft Rollnes 
17% 1% RotUns 

3ft 1% Ronson 
19 11 R0P0T M 45 

47 74 Ro rr 1.12 19 19 

11 7ft Rowan .12 15 68 
64% 47V* RoylD 379c 57 9 

17ft 10ft Roviati M 

31 20% RuOmd S -48 15 20 


4ft 

15% 

7% 

17 

7% 


14 20% H3% _ 

300x 63 63 a -1 

499 22% 22% 229s 9- ft I 
3000* 73ft 72ft »% + % 
fOOOx TOA 70ft 70ft + ft 
52 2% 2% 2% 
a ISv* ISA 15ft — ft 
T4 7% 7ft 7ft + ft 
173S ISA 15ft ISft— ft 
m 7ft 7 7 — ft 


2ift 10% PuttoHm .12 3 15 3056 13ft 13% 13% + % 
31% 16A Puroidl J4i 35 ?12 ISA 18 18ft + ft 

10A S*» Pyre 7 257 6 5% 5ft— ft 


43 a 

105 91 

25 17 

10ft 5 
34% 23 


OuokOt 1-40 
OuoOPf 954 ... 
QuakSO J0O 1A 19 
Qucne* 20 

Questor 1 50 5-4 11 


25 15 1014 57% 56% 57 
9.1 


Mft 14ft QkRell 240 U 16 


— % 

10*105 103 105 +-1 

186 23% a A 23A — A 
112 6% 6A 6A— A 

122 30 29ft 29% 

297 25% 25 35 + ft 


9% 

49% 

40 

112 


18A 

49 

9ft 


53ft 

10 % 


5ft RBInd 

741 .7 


34 RCA 

104 22 

25 

29% RCA Pf 

3J0 9A 


80 RCA pf 

470 17 


32% RCA pf 

3AS 9 J 


6ft RLC 

70 29 

21 

3W RPC 



14% RTE 

J6 29 

10 

8% Rodlce 


13 

31% RoisPur 

170 XI 

15 

5% Romod 


21 

16% Ronco 

J4 47 

9 

2% RonorO 



51% Ray cm 

J4 A 

25 

9% Ravmk 



19% Ravnr n 
36ft Ravttul 

1J0 12 

11 

5% RscdBt 

.40 6J 


13 RdBQtpf212 1X7 


lift RJtRet 

173o 9J 

11 

8% RecnEo 


18 


116 6 Sft 6 

4530 47% 47ft 47ft + ft 
1«Oz « 37% JTA 

2 109ft lOfft 109V* +1A 

2 39 39 39 — ft 

542 7A 7 7 — ft 

69 3% 3% » 
a 19ft If A I9A — A 
65 17 16% 17 

1340 47% 46% 47 — % 
1443 7% 7% 7%— A 

9 17% 17% JTA— % 
2196 4A 4ft lA + ft 
457 79% 78 78ft— ft 

3 10ft 10ft 10ft— A 
19% 19% 19% + ft 
49% 49% 49ft— % 

6ft 6 6ft + ft 
Mft 13ft 13ft— ft 
14ft Mft Mft 


1991 


249 

97 

1 


ia lift iia ti% — a 


LLSi Futures 


W. M 


Seown Season 
Htgn Law 


Open High Low Owe Cho. 


Season Season 
Hh>h Low 


Ooen High low Close Ctw. 


Grains 


5700 bu minimum- dollars pet bushel 
. 163% 2J7% Dec 375 3J0% 

33* 

3J9 

+.07% 

■ -174% 

287 

Mar 3J7V5 241 

.137 

X40 

+JKft 

4.D2 


Mav 2)5% 7 ISft 

1)5 

l)7ft 

+03 

172% 

263 

Jul 293% 294 

J»l 

292ft 

+.00 Vi 

145 

‘375% 

267 

Sep 292 295 

397 

292% 

—71 

294ft 

Dec 374ft IDS 

104 

104 

—71 


8500 


Es). Soles Prev. Soles 

prev.Dav Open Inf. 30692 
.CORN CCBT) 

5J00 bu minimum- dollars pot bushel 


295 

297 

291 A 

286 

270 

235ft 

274ft 


2MV* Dec 239% 241 
234ft Mar 244ft 246ft 
May 147V. 249 
47% 249A 


231 


224% 

250A 

2J3 


EsI. Sales Prev, 
Prev. 


.Day Open Inf Ml 

SOYBEANS (CBT) 

enoObu mini mum- dollars per but ‘ie< 


2J8'7 2J9A +.02 
244 244% +JKV. 

246% 247ft +J0ft 
_ 247 248% +J0A 

,»A 232 v> 233 — -01 

_ ' 226ft 227 — JOft 

Mar 2J6ft 236ft 234ft 235 —.01 A 

- lies 2OJ0G 


Dec 220 A 


658 

6.79 
7J2 

7.79 
658 
6.74 

3 

E*t. Sola 


4.97ft 

iS% 

5J1A 

536A 

5J5ft 

5J9ft 

526ft 

i3To 



llPh 5.17% — J3% 
525 A —.05 

A 5J5ft —04ft 

5-42 —XU ft 
46 246A — J<% 

0 5 5W. 544 5.44 —04ft 

I SJ2 £26 li 526ft — JHft 

528ft 558ft 523 523% — l 



Prev. Do* Open Ini. 75230 
-SOYBEAN MEALtCBTI 
100 tons- dollars per Ion 
184J0 125-40 

12700 
13000 


Prav. Sales 25000 


5J6 556 556 



Dac 14850 14850 145J0 14550 —240 
Jon 147 JO >4850 145J0 14550 —220 
Mar 14850 148.90 146.10 14A40 —200 
May 149 JO 149 JO 147.10 147 JO —150 
Jul 149.50 14950 147JD 148.00 —.80 

Aug 149 JO 149 JO 147.70 14720 —50 

SCO 147 JO 147 JO 145J0 14550 —20 

Od 143 JO 14350 141 JO Ml JO —150 

Dec 14350 14350 14250 14250 —.*0 


14350 

Jon 143J0 14X00 
Prev. Sales 8J0Q 


Prev. Day Open Int. 45544 up 1969 


SOYBEAN OIL (CBT) 
eaooaibs- dollorsper 100 lbs. 


29 JS 

1905 

Dac 

20 J3 

30-91 

2056 

2057 

+71 

2977 

19a 

Jan 

2075 

3173 


20.70 

+71 

28 M 

19 JO 

Mar 

2175 

21.32 

toss 

-73 

77-45 

20.02 

MOV 

21 JO 

11% 

2130 

21 J3 

—06 

2i25 

30-40 

Jul 

21 JS 

2140 

11-40 

-.15 

a.15 

20J7 


21 JO 

2170 

21 JO 

2131 

—.17 

2405 

2050 

Sen 

21-45 

2150 

71 JO 

21 J2 

—.13 


20-45 

Oct 

2IJ5 

2150 

21-25 

2105 

1 1 1 

21.90 

21 JQ 

BUS 

20-35 

Dec 

Jan 

21 J5 

2150 

2125 

2105 

21-25 


Eil. Sales Prev. Sales 12000 

Prev. Day Open lot. 41 -,77 otf2037 


Livestock 


CATTLE (CME) 

40000 lbs., cents per lb. 


67J5 

5X00 

Dec 

66J5 

6*37 

6X40 


*7-45 

54J5 

Feo 

6265 


61 JO 

61.65 —107 

67-57 

55 JO 

AW 

6160 

6177 


6067 


46-ZS 

5635 

Jun 

JUS 

6155 

6055 

«U5 

—.70 

65 JO 


Aug 

5935 

S9.90 


58.95 


60 JO 

SIM 

Ocl 

58-75 

58.75 

SHOT 

5872 


6530 59 JO Dec 60.10 60.10 

Esl. Salas Prev. Sale* 17,247 

Prev. Dav Qnen int. 70316 up 347 

6075 

6075 

—05 


FEEDER CATTLE (CME) 
44J00 lbs.- cants per lb. 


7X20 

SEW 

NOV 

6550 

6550 

6*30 

6450 



6050 

Jan 

68JS 

(£35 

67 JB 

67.17 



60J7 


6735 

67.95 

46J0 

MJ5 

-1.15 

7170 

NUO 

Apr 

67 JS 

67 JO 

64 JS 

66-37 


7000 

40.10 

Mav 

6600 

6670 

65-10 

65.12 


6850 6X75 Aug 6650 

Est. Sates 182 Prev. Sales 
Prav. Day Open Inl. 9337 up 55 

6650 

920 

6600 

6635 

—75 


45.90 

4545 

40-80 

4320 

4355 

4280 

3950 


44 l>4 

4545 
4080 
4320 
43.70 
4280 
39 J0 


HOGS f CME) 

30-000 ibs.- cants per lb. 

■50JS 3655 Dec 

50.47 38.10 Feb 

4725 36.12 Apt 

. 49.05 39 JO Jim 

. 49 JU 4045 Jilt 

ItJW 40.75 Aug 

41.10 38J17 Oct 

4950 3JL37 DOC 

40-90 40.45 Fefi 

Est Sales 7276 Prev. Soles *254 
Prev. Day Open Int. 28446 off 18 
PORK BELLIES (CME) 

38400 lbs.- cents per lb. 

7*20 55.75 Feb 6020 6025 

7540 5545 MCU- 6055 6055 

7340 37 JB Mav 6125 6140 

76JM 5720 Jul 6IJ0 6210 
7X15 5550 Aug 5925 5950 

EN. Soles 4466 Prev. Sales 3410 
Prav. Day Onen Ini. 1499 up 569 


4520 

4425 

39.90 

4250 

4280 

4210 

3925 


4527 

44JI —125 
39.95 —.90 

4247 —53 

42SS -50 
4213 —67 

3947 -28 

40.93 
41 JO 


5840 
59 JB 
6035 
6080 
58.12 


5845 — 1 45 
S9J7 —140 
6040 —150 
6097 —140 
5X12 -ia 


Food 


COFFE a e {NYCSCEJ 
9500 lbs.- conls perm. 

16840 12925 Dec 159 JO 15925 1S27S 15X96 — 4J2 

Mar 139.90 16020 15550 15550 -354 
Mav 1*0.75 16150 1S7J5 157.10 —353 
JUl 16130 16100 15850 15851 -344 
S«P 16274 16274 16000 160.10 —275 
Dec 16225 16250 14050 16050 —289 
Mar 1&050 16050 1*050 16050 — <00 


167.Q3 
167.18 
167.10 
. 167 JO 
16720 
1*725 
£Sf. Softs 
Prev. Day Open Int, 


12850 

131J0 

13S50 

13275 

13&D0 

14250 


nwr 


UP 527 




PHILADELPHIA EXCHANGE 
Option 8 SlrBca 
Utidertytna Price Calls— Last 
Nor Dec Mar Nor ovo Mar 
12508 British Poundt»canK ner uail. 


Ain. 12 


Pats— Last 


3120 

2145 

1650 


1W 
130 
125 

IM s r 

135 r 650 

>40 1.70 253 

MS r 050 r 

150 r 0.15 125 

5X000 Canadian Dollars>cenlf oar unit. 
CDallr n r r 1J5 

7254 73 r r 051 

6X500 West Gorman Mam*ctMs par unit. 


B Poona 
141.71 
141.71 
141.71 
141.71 
14121 
141.71 
141.71 


7.70 

445 


0J5 

020 

140 


SUGARWORLD 11 (NYCSCE) 

1 12000 lbs.- cents per lb. 

7 ss 3 M Jan 5. 40 

953 134 Mar £98 

7.1S 358 May 6.15 

X70 17? Jul 630 

652 424 Sep 646 

6.9* 4ST2 Oct 642 

723 625 Jon 

753 441 Mar 720 

Est Soles Prev. Sales 

Prev. Dov Open Int. *24*5 up 978 
COCOA (NYCSCE) 

10 metric Ions- 5 per ton 


540 

*22 

620 

655 

655 

647 


527 

582 

£lM 

6.16 


538 

557 

6.16 

6J4 

640 


450 666 


+J2 


725 700 732 


2337 

1945 

Dec 

2046 

2064 

2024 

2Q29 

—73 

2391 

1*55 

Mar 

2150 

2166 

a 26 

2129 

—74 

2427 

I960 

Mav 


ai2 

itS 

/•/a 1 

7m 

—IB 

7429 

2430 

I960 

203 

Jul 

Sep 

2237 

2247 

2218 

22*5 

—25 

—a 

7*25 

2385 

3029 

Dec 

Mar 

2285 

2285 

2270 

2262 

2273 

—34 

—34 

Est. Sales 

Prev. Sale* 2300 





High 


Season 

LOW 


Open High Lmv Close Cha. 


EU RODOLLARS (I MM) 

SI miniotvptsof 100 PCt. 

9217 84 JO Dec 9209 

9203 86.10 Mar 9201 

91.78 8673 Jun 9128 

9147 87J8 S«0 9147 

*1.14 8728 Dec 97.14 

90J2 8741 Mar 9081 

9056 8X84 Jun 9052 

9023 8929 Sap 9025 


9209 

9202 

9128 

9147 

91.14 

9051 

9052 
9029 


Est. Spies Prev, Sates 25416 

Prev.Dav open lnl.152364 uol 


9201 

91.94 

£49 
9127 
91 J3 
9021 
90.41 
9X14 


9204 
9155 
9149 
9127 
91 JS 
9073 
9043 
9X15 


— J7 
— 27 

=$ 

—09 

—09 

-09 

—.10 


Prev. Day Open Int. 20520 oH74 


ORANGE JUICE (NYCE) 
1 £000 lbs.- cents ner lb. 

181 JO 11220 
11X30 
1 7275 
111.95 
111.40 
111.00 
11150 


18000 
1 77 JO 
16250 
15750 
18950 
11425 


' 17450 17215 >73-45 


11150 



11340 11X40 
11225 113 JO — i; 


17340 


11420 11X90 114 JO 
11200 11200 


16125 

Est. Sales 600 Prev. Sales 459 
Prev. Day Open in). 6.144 up 105 


11225 

11260 

11X05 


Metals 


COPPER (COMEX) 
75200 lbs.- cents pot lb. 


6000 

8435 

60 JO 
5850 

Nov 

Dec 

6 US 

61.90 

6 US 

61.15 

6US 

+35 

84 30 
8070 

6070 

Jan 

Mor 

62-45 

6285 

62JS 

6135 

62-40 

n 


Mav 

6290 

6U0 

6280 

6230 

74 40 

6035 

Jul 

6X50 

6350 

63JS 

6115 

ts 

+.15 

70.90 

7030 

6X90 

6135 

Sep 

Dec 

6*50 

6*00 

6*45 

6355 

6430 

7030 

67.90 

67 JO 
6630 
6130 

6X30 

6255 

62.90 

6335 

6150 

Jan 

Mar 

Mav 

Jul 

Sen 

66-60 

6600 

6600 

64-40 

6*30 

6X35 

6530 

66.10 

+.15 

til 

+.10 

EsL Sales 

Prev. Sole* BJ64 





Prev. DavOpen Ini. 77 504 up517 


ALUMINUM (COMEX) 
«J»0 Lbs.- cents Per lb. 

Nov 
4150 Dec 
4270 Jan 
4290 Mar 
4430 Mar 
4450 Jul 
4690 Sep 
48.95 Dec 
Jon 
Mar 
4940 MOV 
50.00 Jul 
Sep 

Prev. Soles 


7040 

7650 

7340 

6341 

52.10 

49.10 


4245 4245 42*0 


4X70 43 JO 4X45 


45.15 45.15 45.15 


5X35 

5X30 


4200 
47 -m 
4230 
4X45 
4615 
4455 
4555 
4660 
4695 
4745 
4X35 
4925 
49 J5 


-25 

-25 

—25 


-25 


-25 


EsI. Sale* 


Prev. Dev Oner Int. 1215 on 119 


SILVER (COMEX) 

5JOO trov ml- cents par Irov az. 


620.0 

6025 

Nov 

6197 

6197 

6197 

6173 

+2-9 

12307 

598.0 

Dec 

6160 

6335 

6155 

6195 


12157 

5957 

Jan 

6215 

6215 

6215 

6229 

11937 

6077 

Mar 

6295 

6363 

6375 

6323 

+29 

>0*87 

6193 

Mav 

AUk n 

6*4.0 

636 5 

6400 

+11 

*457 

62*3 

Jul 

6465 

6543 

6*65 

649J 

+JJ 

9403 

6217 

Sec 

6593 

6620 

6997 

65SJ 

+24 

799.0 

7897 

6527 

6663 

Dec 

Jim 

4707 

6743 

6*93 

6720 
677 A 

+J0 

+33 

7707 6707 

7527 6820 

7*67 6*57 

Est. Sales 

Mar 6907 6W7 
MOV 

Jul 

Prev. Soles 14457 

6907 

6S7J 

6973 

700J 

+19 

+43 

+4.1 

Prev. Dav open Inl. 8606B up 1.155 





PLATINUM (NYME) 


SB frer oz.- dollars per trovoz. 

v 337 JO 


3S7.nO 

37350 

35720 

36320 

3*020 


33120 

25750 

26450 

27320 

30350 


NOV 

Jan 

Aar 

Jul 

Oct 


Est. Sales 5,132 Prev. Sales £816 
Prev. DavOpen Int. 14.140 up 963 


33700 337 JO nuo — JO 

33720 34220 33520 33520 —.90 

34120 34450 33820 33X40 —120 
344.90 34820 34450 34200 —120 
14950 35420 34950 34190 —120 


PALLADIUM (NYME) 

100 troy oz- dollars per <*z 

14150 9ijo Dec 10150 !9US 10025 10X10 —120 


12750 91JQ 

17420 *150 

11X80 97.70 

10725 10420 

Est. Sole* 


Prev. Day Qotn Int. 7.109 up 99 


Mar 10220 10275 10140 10140 

Jun 10450 10450 103 20 10X10 

Sep 10520 10520 10420 104JS 

Dec 10660 

Prev. Salas . 623 


+25 

+50 


GOLD (COMEX) 
ioo trov a*.- dollars per trov oz. 
376-50 32000 Nov 

30150 " 


48950 


49*20 

435.70 

42840 

3+5.70 

393.00 
35850 
38840 

39450 

385.00 

Est. Sales 


30620 

31420 

32X50 

33120 

33520 

34220 

31X30 

J55J0 

36520 

37220 


Prev. Dov Ooan fnf.I2S.70Z tip UD 


Dec 32X80 32X30 32X50 32 62 0 

Jan 32820 

Fab 33030 33220 32950 33X20 

APT 33X70 33*20 33340 33420 

Jun 33X00 33950 33740 33820 

Aug 34720 34250 341 JO 34220 

OC> *44 411 

Dec 351.10 35X00 351.10 35140 

Feb 3S&20 

Apr 36200 36220 362J0 361.10 

Jun 36650 

AU0 374JO 37420 37420 37210 

Prev. Sale, 19201 


♦50 

+-«0 

+50 

+50 

+50 

+50 

+50 

+50 

+50 

+50 

+50 

+50 

+50 


Financial 


US T. BILLS (IMM) 

SI million. ptsatl 00 PCt. 


BRITISH POUND(IMM) 

5 per pound- 1 point eauatsSXJOOl 
1.4425 12200 Dec 15180 15225 15165 15180 

15310 12680 Mar 15070 15120 15055 1.4070 

1X215 1.1905 Jun 12995 12995 12970 12970 

Est. Sales 4251 Prav. Sales 6184 
Prev. Dov Open Jnt. 30.134 
CANADIAN DOLLAR (IMMI 
5 per (Hr- 1 po l n I eauals SLOOO i 
2566 .700* Dec J244 2252 2236 2244 

7504 4*81 Mar .7233 2241 22Z7 2231 

2360 2070 Jun 2212 .7212 2212 2217 

.7303 2776 Sep 2207 .7207 230? 2204 

Est. Soles 735 Prav. Sales 1208 
Prev. Dav Open Int. 7505 
FRENCH FRANC (IMM) 

Sper franc- 7 point equa Is SO JC001 
.12420 J9670 Dec .12525 

.12440 .10985 Mar .12450 

.12450 .12130 Jun .12375 

Est. Sales Prav. Soles 26 
Prav. Dav Open Int. IP 
GERMAN MARK (IMM) 
Spermork-lpoInleouaiSttLOaai 
2880 2971 Dec J841 2847 

2912 2040 Mar J872 3B7C, 

2935 2335 Jun 2906 2906 

2975 2763 Sep 

Ex). Sales 1X769 Prav. Sales 32578 
Prev.Dav Opetrint. 49.908 


+S5 

+45 

+45 


2827 


2893 


2831 

2862 

2893 

2931 


—18 

—18 

—17 

—14 


JAPANESE YE N(IMM3 
Spar van- 1 point eouolsSOLOOOOOl 
204924 J039Q5 Dec 204897 204912 204872 204892 

.004*34 204035 Mar 204896 204912 2048*3 204894 

004929 JO4220 Jun 20*912 204912 204909 204902 

004920 204690 Sep 204976 

004985 204158 Dec 204930 204930 204930 204930 

Est. Salas 3X357 Prev. Sales 17267 
Prav. Day Open Int. 40293 


+ -S 


SWISS FRANC (IMM) 

Sperlranc-I po inf equals SOJIOO 1 
5728 2531 Dec 56*5 5701 5673 5675 

.4771 3835 Mar ,4738 5742 .4777 5778 

.4800 .4190 Jun 5795 5795 .4766 5766 

58m 5790 SOP 5816 

Est. Sates 1623) Prev.Safts 15539 
Prev. Day Open Hit. 27250 


—a 

—27 
—33 
- W 


Industrials 


LUMBER (CME) 

1 30200 Dd- ft.- Soer 1 200 bXtt. 

11610 12658 Nov 14420 74X5$ U4J0 74X30 

Jan 14490 149.00 7 47a 148J0 

Mar 15X90 15420 15X80 15170 

May 15X30 15820 1S720 15X60 

Jul 16250 16280 761JO t62JX 

Sep 1600 1600 16420 16550 

Nov 16X50 16520 16400 16X50 


187 JO 
19X00 
17650 
18320 
17600 

1B1JO 


13320 
139 JO 
14X20 
14920 
15290 
15620 


-3 


-120 

-JO 


Est- Sales 1.130 Prev. Sales 2544 
Prev. Dav Open Int. 7JI14 ott 58 
COTTON 2 (NYCE) 

50J00 lbs.* cenfsper lb. 

7100 5727 Dec 6025 61J9 

76J5 5X77 MCT 61J0 6Z40 

7X00 5X90 MOV <255 6100 

7X05 5X20 Jul 6120 62.1Q 

6520 5250 OCt 55.10 SJ0 

59-25 5025 Dac 5225 5X30 

6675 5230 MOT 5320 5X95 

Est. Sales 1000 Prev. Sales 2371 
Prev. Day Onen ML 23277 up 228 
HEATING OIL(NYME) 


6X9S 
61 JO 
6230 
6120 
55.10 
52AS 
5330 


6153 

6207 

6277 

61J8 

55J0 

5X28 

5X95 


+.19 

+.10 

+.10 

+28 

+20 

+23 

+JS 








1 • ’-1 

I '/.'-J 









T .1 








■ rT H iT7_i 



V 7i ■ ■ 
















[Jr. 







-^LaZZPSwBBHS 




— 21 
— 25 


J 


=3 


Prev. Oay Open lot. 33506 up *95 












r 1 




H- 1 1 .M 



\ ' ^'1 











dK Jl . 


r 


Y r fi\ 

■ 

\>f -1 

\'f - 1 


/A^W 

■ .ri 




'] 

W'F - 1 

Ep 1 


B 4 V. 1 



i 1 A v 1 

I’/ii 1 

!•//' j 


















ll- ■ 

H- 1 1- il 




K w 1 



V - ■ 

B - 4 ' 1 

1 1 - fl 





|4-,1 

•^T . ■ 

H-_ i. 1 




, 1 





k -i 1 


1 

Y _ {, | 


L' t ' 




Stock Indexes 


(insexas compiled shortly before market dose) 


SP COMP. INDEX (CME) 
point* ana con is 

mj 17X70 Dec 19855 1*X90 197 JO 19750 —7 25 

J03J3 18230 Anar 20050 20120 19yjs 79925 — 7^ 

30620 18190 Jun TOO 6 9P**n TQn^i 20020 —150 

30X75 187 JO Sap 2Q2J0 20X30 20270 20X3D —JO 

Est. Sale* Prav, Sales 91503 

Prev. Day Open Int. 77263 


93.0a 

15-77 


9330 

9100 

9238 



9X02 

8600 

Mar 

02.99 

92D9 

0237 

9238 


9278 

8731 

Jun 

9237 

9277 

*2«5 






TO48 

7250 

*216 


12 

92-JO 



9214 

9214 

9236 


V J 


0958 

Mor 

91.90 

91.90 



u 

9159 

9050 

Jun 

9101 

9101 



11 

Est. Sain 

Sen 0138 9IJ8 
Prev.Sales 4567 

PI.24 

7132 

-.17 


19 YR. TREASURY (CBT) 
SlQO,OOOfMin-Pt5&32rKisof lOOoct 
89-1? 75-13 Dec 89-11 BW6 

88-18 «-1* Mo r 66-10 88-15 

87-18 74-30 Jun 87-12 B7-J6 

86-23 80-7 Sep 9*. 15 86-19 

66-2 80-2 Dec 85-22 85-27 

Est. Sales Prav. Solas 15,183 
Prev. Day Ooen Ini. 72,157 ott 90 


89-3 

&4 

87-7 

86-12 

85-21 


894 

8X6 

87^ 

86-14 

BS-22 


— 10 


VALUE UNE(KCBT) 
points ana cents 

217^ 1020 Dec 20615 20650 20420 204J5 — 1J0 

20950 19050 MOT 20X20 20X55 20690 20690 —120 

Eat. Sole* Prev. Safes 9223 

Prev. Dev Open Ini. 12230 up 41 7 


NYSE COMP. INDEX INTFE) 
paints aid cant* 

117 JO 101 JO Dec 11450 17490 11185 IT 190 

11X75 10X59 Mar 11X20 IT6JX) 11X80 11X00 

120-00 106.90 Jun 11675 11675 11615 11620 

11X10 10X10 Sep _ 177 JO 117 JO 11 7 JO 

£51. Soft* Prev. Sc lea 16649 

Prev. Day Open ML 9jn art 427 


=18 


117 J0 -JO 


-10 


US TREASURY BONDS (CBT) 

(8 net 51 00j004tc & 32nd* o* 1 08 act I 


OMork 

35 

r 

332 

r 

r 

r 


38J6 

36 

r 

23S 

191 

r 

034 


J8J6 

3 7 

r 

U3 

217 

r 

036 


3836 

38 


175 

1-49 

T 

037 


3SJ6 

39 

002 

aa 

IM 

r 

t 


38JA 40 r r 

&25000Q J a panne YnHOOf&S Of a 

003 r 

cent per unit. 

r 


JYen 

44 


456 

r 

r 

OBI 


48.77 

44 

257 

205 

332 

r 

r 


4839 

47 

UO 

134 

111 

031 

0.11 


<837 

<a 

0.73 

1U 

1J6 

r 

039 


4837 


0.12 

054 

r.i2 

(U4 

078 


4837 SO s 0JI 038 

<2500 Swiss Fran cs<cnii par will. 

S 

r 



5 Franc 
4675 30 

46J5 39 

MJ5 42 

4X75 45 

4675 46 

44J5 47 

• 46J5 48 

total am mi. »j»* 

Total put ML MB 


1024 

X53 

710 

4X3 


028 


1.13 

0J9 

022 


0J4 


r— Not iradM.s — no option offered. 
Last Is omnium laurchase price) 
Source; Af>, 


ZOO 
1.47 
1JS 
Call opea Int. 
Pvt open 


ail 

a« 


80-20 

57-8 

Dec 

80-13 

80-22 

KM 

80-6 

79-16 

57-2 

Mar 

79.10 

79-19 

77 


78-12 

56-29 

Jun 

783 

78-19 

77-31 

78-1 

77-13 

s+a 

S«p 

77-8 

77-18 

17 

77-3 

76-13 

56-25 

Dec 

7+7 

7M3 

7+4 


75-18 

56-27 

Mor 

75-10 

75-24 

75-10 

75-11 


63-17 

Jun 

74-a 

75-7 

74-18 

74-a 

74-2 

63ft 

Seo 

7*6 

7+12 

7>a 

74 

73-14 

ra-» 

62-24 

67 

Dec 

Mar 

73-14 

73-20 

73-11 

73-14 

77-24 

71-3 64-25 Jun 72-8 72-18 

|st.5gles Prev.SdesmOM 

Prav. DavOpen lnUOS-461 UP7356 

72-B 

72-12 


—73 

-13 

-ID 


—2 


MUNICIPAL BONDS (CBT) 
siaoq* tade*-M5 & 32nasot ioo Pd 
87'M 81-17 Dec 87-a 87-27 

Ei St* f f ar 

86+ t* Jun 88 86-1 

84-20 79-10 Sen 

Est. Soft* Prev. Sales X924 
Prev. Dav Open Int. 10315 uaSOS 


&& 

85-24 


87-14 

86-21 

85-3 

85 


-IS 

-15 

—16 

—17 


»UI) 

165,118 


CERT. DEPOSIT (IMM) 

31 million- pIsoI 1W> net 
«250 85 34 Dec 9135 

9232 8656 Mar 7128 

92JJ5 8623 JIM 

91.44 8786 Sea 

90J9 8X34 DflC 

9025 8830 M or 

E*t Sate* Prev.Sgles 

Prev. Day Ooen Inl. 1870 


9235 

9230 


9234 

9237 


9X34 

9237 
91.99 
9127 
•1J* 
91 J3 


—07 

-07 

—Oi 

—09 

—09 

—09 


MAJOR MKT INDEX (CBT) 
point* one eights 

373% 249 Nov 269% 270% 268% 268% —1% 

272% 249% Dee 279ft 270ft 360ft 269ft —7ft 

274 m Mar 272ft Z72ft 271% 277% —1% 

Ear. Sale* Prav. Soles 585 
Prev. Day Open ML upl40 


a 14% RussBr 
24 15% RwaTog 

31% 21 Rygnff 
30ft 23 Ryder* 

39 18ft Rytond 
3Jft alb Rymer 
13% 10ft Rymer pTI.17 


J6 U 
66 


775 9% 9 9 — ft 

79 I2V» \r» 12ft + ft 
304 _+» ■ ft 

48 Sft 33ft a%- ft 
1315 10 9% 10 — ft 

230 ?ft J 2 — ft 

an x 7ft s + ft 

207 51 50 50ft— Ift 

22 a 23 23 

5 27% 27% 27% + ft 
2 56V, 54V* 5ft f* + ft 

210 S 31% 31% — % 

6 a a a 
IS 25ft 35' 25 

JJ 29 U39 27 26ft 26%— ft 
2 JOS 13 12% 12% + « 

23 57ft 57ft 57% + ft 
9 90 99 99 

40 24ft 24ft Sift- ft 

210 14 13% 13% — ft 

7635 27ft 26% 27ft + % 

1 493, 49ft 49ft 
) 112 112 112 - ft 
805 730ft 330ft 13016 — ft 
464 33% S '33% + ft 

7 26 36 S + ft 

586 24ft 24% 24ft- ft 
345 3% 3 3% + % 

46 35 34% 35 . 

597 Sft 19ft 20ft— 1 ft 
278 lift lift lift 

211 22ft 22ft 22% + ft 
28 3i Wi JFH— ft 

2081 18ft 18ft 18ft + ft 
2565 3AVi 35ft 36% + ft 
136 67ft 67% 67% — ft 
118 63ft lift 61% — ft 
125 26% 26 24 

756 Mft 13% 13% — 1 
M 12% 12ft 12ft + ft 
134 2ft 2ft 2% + ft 
45 16Vi Mft Mft— ft 
395 39% 39ft 39ft- % 
873 Bft Sft Bft— ft 
1934 62ft 61ft 62 —ft 
134 Mft 16ft 16ft 
262 30ft 30ft 30V* + % 
4 1 2 27ft 20 27% +7 ft 

77 21ft 21 'A 21ft— Wi 
352 24ft 34 24% + ft 

30ft— ft 


10 12 ?«□ Mft 30 - . 

£4 13 547 27ft 27% 27ft + ft 


U 


117 14% Mft 14% 
a 12 I? 12 + ft 


74ft 41ft SCM 200 17 18 
13ft 9% SL fnd 2S> \S 10 
Sft 19V* SPSTec JQ 14 16 

19 IS Sobiiw -04 J 38 

19+! 1* SobnRv 2J6el4J 

30% 13% StgdBs 3D U 17 

12% 5% SfsdSc 22 

2ft IV. StBttS wl 

38% 23ft Sol Kins At 1.1 23 

37ft aft Sofewy 

34ft 20% saga 

a 18 V, StJoLP 

11% 9% spool 


1J0 
52 _ 
1J2 X2 
1 J8 1X5 


4J 9 
XI 13 
_ 7 


U7 73% 73V* 73 ft 
IS 12 11% lift 

67 34 33% 33%— ’A 

45x 15% 15% 15% — % 
250 16% 16 16 — V* 

226 19 !■% 18ft 

72 9% 9% 9ft— ft- 

5 2% 2ft 2ft + % 

150 36 35ft 35% + ft 
1237 36ft 35% 36 — ft 
507 24% 24ft 24ft— ft 
26 21ft 2GH 2D%— % 
79 10% 70ft 10ft 


8% 

38% 

3% vl Solan! 
24% SaflieM 

.16 

0 16 

126 

1455 

8 

37ft 

7ft 

36% 

7ft- % 
37% 

38% 

a% 

28% 

21% SOIeG* 

23* 

(0 9 

564 

a 

26% 

26% — % 

20% 

9ft 


50*100 10 

M5 

8% 

0% 

8%— ft 

18% 

12% 

B% SJuanR 


18 

30 

11% 

10% 

10% 

30 

43% 

29% San dr 

00 

15 16 

470 

31% 

30% 


61ft 


20 5AOIIR1 


Vo\l 


a% 




35% 

24% SFeSoP 

1 00 

1257 

33% 

33ft 

33ft— % 

189k 

49ft 

31% SaraL*« 

100 

33 13 

792 

<9 

47ft 

48%— % 

5 

35% 

29% Saiwel 

108 

*3 15 

2 

35% 

35% 

35% + ft 

16% 

19% 

15ft Saul RE 

20 

1.1 47 

8 

18% 

18% 

18% 

9% 

aft 

17% SovElP 

100 

70 8 

70 

21ft 

71% 

21% — % 

41ft 

12% 

10% SovE Pt 

138 11.1 

71 

11% 

11 


aft 

9% 

5 Savin 



1» 

4% 

5% 

5%— % 

a 


13ft B Savin pf 1.121 
23ft 21ft 5 CANA 116 X0 10 
57 35% SchrPIo 7J8 

43% 32% Scfilmb 130 


14% 9 SdAII 
33 23% Scoalnd 

61ft 53ft ScalFel 
45% 37% SCOFF 
16% 12% ScottYS 
45 24% 5eoOH 


32 8ft Bft 8% — % 
_ 323 27 26% 26% 

10 15 2059 56ft 55ft 56 
3A 10 6441 35% 34% 3SVk— ft 


561 


13 10ft SeaCtpf 1-46 11 J 
16% M SooCpfBZIO 1X5 
16% 13% SaaCPfCllO 114 
27ft 17% SaoLnd JS 
5ft 3ft SeoCo 


lift it nib 
_ 32% Mft 32ft— ft 

SO 59 Sf 59 
486 45% 44% 45 — ft 
792 Mft 13% M + ft 
238 26% 25ft 35% — % 
12 12ft 12% 12% — ft 
45 15ft 15ft 15ft 
_ 21 15% 15ft 15% 

23 12 1599x21ft 20ft 20% + ft 
34 4 3% 3%— ft 


.12 U 16 
J6o 13 13 

J0a u io 

1-24 2J II 

J2 3J n 
42 U 7 


44% 36% Sectoral JO 1J 12 153! 43% 43ft 43% — ft 

27 15ft Scogul 24 27 17% 17% 17% 

34% 22U SealAIr -44 IA 17 253 31% 30% 31% +lft 

32*9 22% SecJPw 1J3C 19 10 74 26 25% 25% 

39ft 30 Sear* 1J6 45 10 7788 36% 35% 36 — ft 

107% 97V. Searspf 9J8e X5 145 107% 707% 107W + % 
31% 24% SacPOC S 1J4 4-4 7 1933 30% 30 30ft 

19 11% SelBLI 10 18% 10% 18% 

30% 17ft SvcCps 21 104 30 '6 29% 29ft— ft 

16% 11% ShakJaa J2 4J 14 312 16% 16 16 — ft 

26ft 16% Straw In JO 26 8 62 23V. 22ft 23ft + ft 

40ft 29ft ShedT 245e tJ 7 1172 38% 38ft Mft 

30(4 21 ShelGfa .TO JJ 4 lli 25% 26 26 —41 

36 23ft SbdGpf W0 £0 1 28ft 28ft aft + ft 

40 25ft Shrwfit J22JI3 222 40 39 40 +% 

9 5ft Shoe ban 11 230 Bft 8 >ft 

15ft 12 Showbt JO 4.1 15 36 Mft 14ft 14ft— ft 

19ft 15ft SlerPoc W6 X9 11 96 19 78% 78% — ft 

41 26% Singer JO IjO 10 1257 Mft Mft 38ft— ft 

33ft aft Stow pf X50 10J 9 32ft 32% 32ft + % 

17ft 72% Skvfloe 43 3.4 IB 345 Mft 13ft Mft — ft 

Mft 7ft Smith In 32 40 133 Sft 7ft 8 

72 50% SmkB 3J0 4J 11 1735 71ft 70ft 70ft— % 

87% 48ft Smock r 1 20 U 20 717 BBft 87 80 + ft 

41% 31ft SnupOn 1.16 33 12 475x36 35% 35% + ft 

-- X00 UJ1 18 82 74ft 74 Mft + ft 

U9 U II 744 li ISV, 35% — ft 

.16e s 15 1911 ISft 17% 17ft— V. 


15% 12% Snvder 
43ft 37V* Sonot 
Hft 13ft SonyCP 
32% 22% SooUn 

«vi 32% SaurcC _ 

23ft 19% SrcCppf 2J0 1X3 
30ft 24ft SoJerln 2J8 XB 12 


1J0 4J 
330 XI 


49ft 38ft Soudwn 
35 24% SoetSk 

9 5ft SoelPS 
27ft 21% S Col Ed _ _ 
aft 17% Soufttco 2J4 
26% 20ft SolitGs* IJO 
44 31% SNETI 2J3 

39% 32ft SoNEPf X82 
27ft Sft SoRv pf 2J0 
31 24ft SoltnCo 1J2 
47 24% Soutind 1J0 

56% 49ft Soutldpf 4JM 
48 . lift So Soy ...12. 


23 29% 39% 29%—% 
53 39% 39 39% + % 

3 aft 73 aft + ft 

12 a% a 2ift 

262 44 43% 43% + % 

115 31ft 31% 31% +% 
419 6ft 6ft 6ft— ft 
4660 24ft 24% 24% — ft 
8095 21ft 21ft 71% — ft 
48 25% 25% 25ft— ft 


UUoniti 
than LflwSBdE 


DW, VJCL PE 


SiL 

tOfliHWILO* 



22% Mft So aVal a J* 
4% HL SuuMkl J» 
17". 12 Swonk JB 

22% Mft Sybron 1 JB 
39% 30% Svbrn pi 2JB 
Mft 19* SirnJlCO 
74% 45V. Syntax 7.92 
4?% 30% Sysco M 


«i g* ^ 

1 33 30ft‘ 20 2?ft + ** 


BS0 73 72ft 72% 
93 “ 


Sft 2 % -CM- V 5 


U5 
I DO 
3J0 


soft 30% TDK 
36% 27% T|Cp 

12% 7 TGff. 

21% 13% TNP 
28ft (9U TRE 
83 V* 68 TRW 
51* lft vJTocBt 
SPA 52ft TaftBrd 1.16 
21% 13% Talley .15* 
23% 15 Tgilay of 1J0 
87 56% Tomortf 3 JO 

Mft Bft Tonov 
15% 12% Tndycft 
66ft 47% Tektmx 1J0 
Sft 2ft Tel com 
2731*227 Tolflyn 
26 12% Tel rote 32 

51ft 3B% Tylex 
40% 31% Tompln 


33m 3 
236 7J 10 

U 9 
12 27 


£ 15 % A 

3J V 93 mb 27* 3* 

TIMS 

^ « % fm 55 

S3 36 19% 1*ft ^ 

LQ 75 99 IS* 85 

17 3667 37% Mft Mft— I 

is n 15% lfft Wfc-JS 

1.9 tl » ® S3**-- % 


II 6»-2W%27?fta^J + ft 
21 302 Mft 15ft 1S5-+ 


il 

3J4 


»“ "RiSifefe" 

2H> 31 20ft 2S 
35 41 10% 10% .. 

29 22ft B% JS 


45ft 33ft Term CD _ 

105ft 94ft TeACPr 113» 1X5 

?T rZZS jo « “ 

7J»2Si8 ^3^ =™- fc - 

26% TexEst 700 XI • 44* 36% 36 * “ 

TxETpf 5J0*WJ 


39 
58ft 52 
34% 25 


Texlnd 


131% 86ft text rat 289 


. „ 1 Toxin) 

21% Mft T«*OG5 
34% 28% TxPoc 
3PA 25% TexUtll 
4% l Texflin . ^ 
59% 31 Textron 1J0 
65 Mft Tartrof 288 


i 26 13 

xi m 




.18 

JO 

2J2 


53 

lift 

a 

a 


20% Textrpf 7J0 
Tbodt 


6ft 


Mft That* pt 4.15 Ml 
_ id ThrmE* . a 
43ft 30V* ThmBal 1.36 • 3J 17 
19% 15% Thom In JB X6 10 
18% 13 ThniMtd JO 3J 10 
24% — 

24 
10ft 

-w 

tt.nl 


ii i2 iS F 

V4 n 45 29% 29ft 2W*+ % 
^ 7 3 ^ ^ ^ ^ + % 

6 a ■ a- a - 

S SSt.Si= 1? 

S iS ia i§4u? 


S 


292 



23% UIPV.p( 180 JXJ 
7^ Of PL ?I J* ^ 




it% OHifo 


I JOb 68 8 


27 . !0» u niiLo ■ w.rs 
•n io UhlCapf 2J4 iij 

»% 2ffA UfMCo pr2Jl IU 


3 Z7% 2_ “Z 
u a 27% 28 
f! 23% Bft 23% 
B ^ » ft 20ft 
M 


ray. Oft Oft— % 

i 21% 21% 2J* . ^ 

10 ZJV* Oft 23% + Vi 


ssft wfx es» =6 IS IS i? 


IJO <1 7 


gflllp 

«»iu u 

73% 72ft- ft 

*B §»£ 

2o£^ft S% 68^ + ft 

»ft W* 28ft + ft 

77 B6ft.+ % 

i 


14* vSiS^Pt 344 166 
3V* 316 Vo ley In 
28% if VonOm 
5% 2ft Voter 
I f . 6ft Vorwpf 
42% 22V* Vartan 
13% 9% Varo 
JSS 13 Veocc 
T3 3% VtMrf? 

11% 9% VftWf 

13% 1«S V^rn n , 2 *T 1^7 3 

um% 

5 r» 8 iS 

P% 13ft VMWV8 

ts* Bft vomao 


T9 23% ZJft »»- % 

^ 

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A4U I Lin VOTIWM n 

,66ft VuWnM ZBD3J13 


W 


L. ■ ~Z ztz. 27ft 27% — ft 

31ft 26 W1COR WU mi 35% 34% Mft- ft 
38% 26 , Wdrf«y IJO 25 ID S* 26ft 24ft- ft 


25% Mft Wachiit 
W% 6W Watooc 
29- 18% WIMrt* 

1*0 84 WIMrt Pf 

Kft M Wo tarns 


JO 2J 


„ JO 18 18 

g* t7% WkHRaoTJO 

3W* 29% WatCSv J5 13 IJ 
3916- 29ft WOlUm lJtt 16 « 
• fi* 7% WallJ pf 1 J0 11J 
«* HU WatU Pf 1J0 XI 


JB8 


Stft M. 


56ft 41% Timken 
«% 4% Titan ^ 

11% Sft Titan pf 1J0 
79V* 26ft TocfShc IB 
21ft 75% Tokltm ■ -48 
21ft Mft TolEdl* 2^ . 
29% 24% TolEdpt X77 1 
25 TUE6NUS.1U 

UJ 


30ft 


9% Tonka* 
26 Toot Rot 


11% ToroCo 
1 Tosco 
Sft Towle 
3% Towle pf 


16 


16 TrocrS 

8% TWA 

.. 13 TWApf 235 MJ 

34ft Mft TWApf B135 6J 
34 24% Trertsm l J« XI 16 

21ft 18 Tranrnc 238 1X5 

M lift TARIIV 1.00 XI BE 

21ft 15% TmCdant.12 45 7 

44 Transco 659*1X8 50 
S3 Tmscpf 3J7 &3 

52 Tmscpf 435 »J 


S 20% 2Dft WN-iJO 

?g 

>ns «iS+s 

sar.£=8 

341 2gft OT*.. 

83 MJ 32l" t. & 

8 28% 28% 2B% + ft 
16 27% 23 77ft + ft 
11 3 32% 33 + ft 

54 19 18% 19 + ft 

£ IK SS 3 K+% 
anJtS 
* 11 ii« « TSt 

116 8% 7V* 

111 27 726 35% 3Sft 35%— ft 

“ n ^ Sft a 

69 15ft 15% ISft— ft 


16 


1*%— ft 

m 


134 


33% SJHr SFt + ft 


57ft 

66V* 

S2% 


34% 19V* TrcmEX 236 11 J 


13% 

97 


5% Transoi 
85ft TfGPPf X64 
22 TrGP pf 250 
8% TmsOh 


47V* 29ft Tronwv 1J0 3J U H ft 

43ft Mft Trnwid -48 13 U 1683 41ft 40ft + ft 


_ 33ft 33V* 33ft 

T? 21% 21% 21% + % 

IS 17% 12% 12% 

17 16% 16% 16%— ..ft 
359 50% 30% SB* 

5 62 <2 62 — ft 

68 52V* 52ft 52ft 
149 20ft 79% 20 
44 8ft I Bft 
5ttz 96 96 .96 

1 25% 25% 25% 

46 12% 12% 12% — ft 
53 45% 45% 45%— ft 


25ft 12ft TwIdwIA 
17% 15% Twtd Pf 150 11 J 


85 23% a 23ft + ft 
12 17ft 17ft- 17ft 


49% 34% Trovler 204 44 11 1370 47ft 46 46 — % 


30 

32V* 

35% 


58ft SOft Trov Of 4.16 74 
Sft Tricon- 348*125 
a% TrfCnPf 250 93 
7% Trial ns 38 J 

23 TrioFc 

51% 30% Tribune 
6% 4 Trial tr 
7% 5% TiiCO 

77% 12ft Trtnfy 
35ft 14% TritErra 
19% 9% TrllEpf 1.18 
43% 31% TUCSEP X00 


17ft 9% Tuttax 
Mft 16 Twin Da 
30 Tyco U5 


1J0 28 W 
Jt 1J 17 
41e1X7 6 

30 X0 13 
40 17 
.10b 3 25 
64 

7.1 10 


17% 12% Tylers 


U IS 
.90 45 15 
-St U 13 
40 28 13 


292 56ft Sft 55% — ft 
223 28ft 27% 27% 

8 27ft 27ft 27ft 
250x32 31% 3T%— ft 

212 35% 35ft 35ft— ft 
588 50ft 49% SO — % 

^ mv iA i3%— a 

3X7 31ft 30% 31ft + % 
357 17% 16% 17ft +.% 
352 42% 41% 42% 

88 17% 17 17 —ft 

4 18ft MV* 18% 

958 44ft- 41% 43% +2ft 
191 14% Mft MU— % 


1J0 28 
240 77 

15 

4J0 15l3 18 
2J4 94 12 
275 114 


47 


Sodmrk 34b 


Somk.pt JJ2e13J 

11 4 15 



51 

31 18% SwAirl 

16% 10% SwtFor 

88ft 63% 

» 19% 

26% 20 SwtPS 
17% 12ft Sparton 
Z7% 15% SpedP 
59 36% Sperry 

Mft Sift Spring* 142 48 22 
43% 35ft SauarO 1J4 44 13 
76% 49% Sauibb 176 
24% 18ft Staley JO 
23% 18 StSPnt 46 
17% 10V* StMntr 72 
55% 39% SWOOb 280 
» 71% SOOhpf 375 

23% 10% StPocCs 40 
16% 12ft Standee 
31% 23% sianwk 
lift 9% StaMSe 
3% 2ft Staego 
20ft 15% Sterchl 
12% 9% StriBcp 
37ft 36ft SterlDg 

26% 16 9*vnJ 
raw 25ft stwWm 
M 10 5t*VCpf1J0 74 
48% 38% StoneW 1J0 37 9 
34 24 StoncC JO 20 36 

51ft 34ft StopShp MO 3J 11 
21% 16% StarEa 1.92 1X1 14 
3% 1ft vIStorT 
91% 40 Storer JO J 
a% 17 StrtMt n 1 JOe 7J 
aft 14U StrldRt JO 29 37 
6U 3% SuavSh 
39 28% SunCh M 17 IS 

11% 6% SunEI 
56ft 43% Sun Co 230 44 24 
110% 90% SunCPf 275 21 
49ft 40 Sundstr IJO X? 12 
10% 5ft SunAW 
7% 7 SunM Pf 1.19 154 
38% 31 SunTrst 170 XZ 11 



S4 

57 

^ 21 8 
42 18 10 
1J4 15 11 
lTOalDJ 
.12 44 
74 37 10 
76 XI 9 
170 24 14 
170 44 
U8 54 21 


164 
234 

965 24% 24 ft 
167 14% 13% 
21 % 2 \ 

m* 48% 

834 «% 

24 ll 2002 75ft 
3J1M 
26 12 

24 15 945 12U 
- a7o*5i% 

801 71% 71% 



622 23% aft aft - % 
no 21% 21ft 2m- ft 

50*51% + % 


162 19ft 18% 19 
50 17% 13% 13%—% 
320 30% 29% 29%—% 
90 11W 1) 11% + % 

103 2% 2% 2H 

B 19% 19% 19%—% 
50 12% 12% 12% — % 
2718 35% 34% 34%—% 
2746 27% 2*% 26% + % 
73 30ft »% 29% — % 
BQz Uft 13ft 13ft + % 
18 48% 48% 48% + % 
150 2FV6 29ft 29%— ft 
217 37 36ft 36%—% 
184 1? 18% I* 

457 1% 1* 1% 

679X91% 91% 91% 

70 18% 18% 18%—% 
54 a 20ft 20%— ft 
34 5% 5% 5ft— % 

M 36ft 36ft 36% — % 
132 11% 11% lift 
59 51% 51ft 51% — % 
6 104 105% 106 —1 
96 46% 46% 46%— ft 
1105 6% 6 6% 

300 37 % 7 V* 7 % 


342 


37% 37ft + ft 


59% 39% UAL 

36V* 28 UAL pf 

17% 10% UCCEL 
M 22% UDCn 
24% ISft UGI 
25% 20ft UGI pf 
lift Sft UNCRes 
M 10ft URS 
39% 23% USFG 
44% 26% USG* 

77% 48% USG Pf 
19% 12% UnlFraf 
126 64ft UnINV 
4ift aft UCamp _ _ 

64% 32ft UrtCarb JL40 57 
6% 4% UntanC 
Mft 15% UnElac 1J4 97 
M 28ft UnElpf 4J» 1U 
40 31% UnElpf 4JD 117 

40% 30 UnElpf 4J6 II J 
99% 45 UnElpf 6-40 TTJ 
34ft 27% UnEI pfMLOO 127 
72 55%'DEfpfL tOO 11 J 
32 21% unepf ZJB KJ 

20% 16 UnElpf 213 10J 
26% 21% UnElpf 272 1X3 
52% UnElpf 7J4 11J 
55 UElPfH XM 120 


965 50ft 49% 50 — % 

<93 31% 30ft aft— % 

432 14% 13% 13% — % 

87 Mft 29% 26% 

59 aft TiVt a%— u 

200* 23ft 23ft 2Jft 

251 iCft 9% TO 
JO 16 13 57 11% lift 11%.+. % 

270 5J ~ 2599 38% 37% 3B%— fi 

Ml 41 7 W 41% 40ft 41U— % 

UO 24 ’ . 2 73% 73% ?3%— % 

70 U M M Mft 16 16% + M 

272* 22 12 93 B4% U4% T24H— ft 

IJ4 U 15 1521 M . 35ft 35ft— % 
5150 60ft 50 . JPK + tt 
3a 6% 6% 6% 

19*9 Mft 19% ’70. . 

890* 36% 35% 35%— % 
40z 38V* 38% 38% 

10*40 . • 

500:57ft 56% 

150z7X 70 _ 

302:.27 ■■ 

11 19ft 
1 26% 


+ % l CP Non. 

26% 26% - 


■=s 


}% 66% 65ft' 45ft + ft 

2Ktz S- 66% 66%—' 

24 a UnExpn Jlau 175 22% 22% 22% 

52ft 37% UnPoc 1J0 3J 12 4709 50% 49% Jl% 

115% B7ft UnPcpf 775 6J 67 110ft 109ft 109ft 

74 SO Unrylof X00 11 J 1920:73 7]% 72%— % 

5ft 2ft UttflDr 0 3 3 "3 

23ft 10% UnBmd JS* 3 12 » 23% 23% 23%—% 

18% 9% UBrdpf . 2 17% 17% 

33ft ISV* UCbTVs .10 J 52 
44% 24% UnEnrg 2J8 53 ' 

249k 13% U Ilium 700 A0 5 


30% 24 UllhiPf 377 U5 

19 14% Ullhipr 270 725 

31% Mft Ufftupf 400 FX7 

14% 11% UllhJPf 170 111 

25 15% Unlll rid JO 2J 9 

43V* 35ft Unlllnn 72 5 37 

37ft 20ft UJarB s 1.16 12 U 

18ft 11% UtdMM 

3% 1 UPkANl 
38% 27ft USairG 
1% 5 USHan 
42V* 31% USLeos 

40ft Mft USShoa 

» 23% ussteal _ 

56% 49ft USStlpf 5Jlcf07 

33 25 USSKpf 225 73 


45 44 43% JJ%— % 

367 75 24% 24% + ft 

» 29% a 29%+l 
-J40zl8 17% 17%—% 

24 ZW* 2914 29% — H 
11 14% 14% 14% 

34 23% 22% 22%—% 

S StAS&tl 

296 Mft T7ft 18% + ft 
37 3ft 3% 3% 

1ZIB 38% ' 38ft 30ft - - 
522 J.. 5ft ■’f . 

JO 22 10 97 36 35ft 36' — ft 

32 2J 14 1899 48% 40% 40% + ft 
IJO 4J a. 4492 a - 26ft 24ft— % 
85 Mft. 54V* 54%— ft 
TO Wl 28% 2M6 + % 


.12- J 


39% 29% USToO 172 5J 10 22B2 31ft 30% 30ft— ft 

Mft 65% USWest fa A9 I 1562 83% 82ft Oft— % 

45 34 UnTedi 1J0 14 ID 2272 41ft 48% 41 — % 

39% Bft UTctlPl 255 7.1 . 212 36% 35ft 05ft— ft 

_ ' 35 X* * 2540 22% 22% H%— % 

1J U 15 si 19% 19% T9%— ft 

J20 J 17 87 21% IT 21% + % 

JO 40. 7 a ays . toft tsas — % 
1.12 4J 11 264 2IVS 28%-2Bft— ft 

1J0 49 8 40* aft 20V* 20VS— Tft 
170b 40 7 3675 30% 29H 29% — VS 
280 27 27 2073 130% 125V* 179ft— 4*. 

173 39%. 399* 39ft— ft 

14 10% 10% lOVS + % 


25 20ft UnlTel 
21 15ft UWR 
32ft 17% UnHrde 
20% 16% Untvar 
28% 21ft UnlvFd 
23ft lift UaLeaf 
S3 2£* Unocal 

131ft 63ft Upfcft) 

43 32ft USUFE 1.12 26 It 
10% 9 UstfeFd UfcWj 


36% 21 UWPL 272 9J 13 360 25ft 25% 25% + ft 


52 39% WBttJPf 

XM 17% Women 
36% 19% wmOn , w 
46ft 31% Womrt. I-** 
53V* 17V* WWJlGs 1J6 
a% 28% WJtlNol 1 M 
34ft 17ft W5hWl 
68% 40ft Waste 
28% WaHcJn 
12V* 3% weonU 

2m Mft WebbO 
20ft 19 W#3»Rn 
25% 73 WaisMS 
62' A 44. WMHF 


_ 7W PS 6ft— U 

Al7 27% 77 73 — ft 

4 m Mft 24ft 24ft- ft 

fa 37% 38% + % 

m 36% 38% Bft + % 

% 9ft 9% 

2H Sft 30% % 

*33 34% “5 


H 9 *gsr ssr+is 

0 8 170 «% s% S!? — " 


o 

2J8 1X7 8 

J6 L4 21 
76 )J IT 


70 1.1 10 
791 TO 
» U 19 

2J0 4J 7 


« WcjF pf 4*4.90 w 


214 23% 23 3J 1 * 

1989 4 9 67% 68 — VS 

47 25% 25U 25% — ft 
5^4% 4ft— ft 
755 19ft 18% W%— V* 
}S 20 19% 19%—% 

« 35ft 35% 

396 59% S0% 59ft— % 
220 SI 50% »*-% 

3S=* 


Ta ?3 ^ & ■» r=tt 

rs ^ a ss jssb-ss 

U‘A 70% WSfCtT 0 7 J4 29 
V%. 3% WnAIrL • 

Sft % WlAlrwl,^, 

26ft n WAb-pf 2J0 87 
■ft lft WCNA- ■ „ __ 

51 16% WCNA pf 7.25 37J 

m : 99 % wpoci ■ to 

15% 5% wunian 


ST 

1213 

113 


46ft 24% WnUng 


sn Ta VVaU. 

14 4% Wnu of E 

44ft 2D . WUTlPf 
17% 5ft WUTI PfA • 
44 24 WstgE 170 

41% 34% Westvc 


M 24% Wevarit 1J0 
44%. 36% Weyrpf 2J0 


12% 12ft 12% — ft 
8 7% 8 — ft 

2% 2V* 2%— ft 

24ft 24 24ft — ft 
■38 2% 2ft 2%— ft 

.93 BU 18% TJU-2% 
5 T28V* ia iav* +1 
1043 12ft 12% 12% + ft 

7 39% 39% 39ft— ft 

150 7% 4ft 7 

IBS 17ft 12ft 12% 

I 38ft 38ft 38ft- ft 

21 14% 14% Mft— % 

11 1J. 4319 43ft 43ft 43%—% 

172 X4 10 154 39VS 38% |9_ - % 


a*'-*®* 4 * 


37% Mft viwpn pre 
32V* 10V* vlWhPltpf 
30% 40ft Whirl ol 100 
32% 25V* WMtC I-® 

48ft 44% WhHCpfgJO 
45ft 37V* WhllC pfOJJO 15 
34% T9ft Whiten i 
26ft 19ft Whittok JO 
12% 6% Wlettdl 

15ft 8 Wilfred 
13% 7ft wniexG .10 
33V* 26ft Wllllom 1J0 
5ft 2 WilmEJ 
7% 5% WiHbrO .10 
38% 30 WvnrvDlx )J< 

20% 8ft Winnbg JO 
8% 5% Winner 

8% 3% uflnmrJ 
40ft 30% WtacEP 2-48 
93ft 72% WiaEpf XTO 
n 63% wisEpf 735 ... 
26% 23%W1sGef 25S1QJ 
40% SSftWIscPL 276 73 


*5 a 4093 29V. 28% 28ft— ft 

4j 77 41ft 41 41 

£3 a 48% 48% 4SH- U 

140 BA 8% 8%— ft 
210:20ft 20 70 —lft 
20Qz 15% 15V. 15% 

47 10 1045 ^6% 46%— % 

47 449 32ft 31% 32 

67 3 47%S 47% 47% — ft 

2 48 ' 40 40 — ft 
9 331 aft aft 23V* + ft 
12 9 386 19% 18ft 18%—% 
17 135 12 lift 12 ' 

« SO 12ft 11% 11%+ % 

J 5 90 13ft 12% t2%— ft 

47 a. 1049 a 29% 29% — ft 
nas Sft 4i* 5 + % 

17. . 66 6 Jft 5% 

47 14 316 38% 35% 3S%— ft 
17 10 M99 12ft 11% IMS— % 

9 7% 7% Tft— ft 

66 8 221 37% 37% 37% '— % 
f J KOi 91 91 91 

97 30z 80 B0 80 +1 

5 23% 25V* 25VS + ft 
82 38% 3MS 38%-% 


39V* 29% WBCP5 286 77 1 I14 3W 38ft 3W* + ft 

40ft 30ft WHCO ' 1-5 (1 ». ; -83 37% 37 37 — % 

M 9ft WotrrW 3* ID . 783 T2ft 17ft ?2%— ft 

54% 35% Walwfti 208 3L6 12 <902 56% 55ft 55ft + ft 

76ft 50ft Wolwpf 220- — 

J* 2% Wridkr 
91ft 54ft WrigfY TJOa Zfl lS 
4ft. » wurifzr 
M 10% WytaLb 72 27 27 
23% . Mft WWVi* JO 36-13 

56% 75K Xerox - 
-XTRA 


7 78ft 78% Mft +2% 
84 4% 4% 4% — ft 
30 91V. 89 V. 89V. — 2% 
14 Sft 3ft Sft— ft 
63 lift 11% 11% 

13 16% 16V* 16% — % 

3UK> £4 IP 3156 56ft 55% 55% + % 
2J J2 36 23 22% 73 — % 


29ft 


*S.B -MB*” 

SP8S2XS& 17ft 


8% Sft Bft— % 
60% 58ft 59% — 1 


41% 24ft Zumln 


^ NYSE H^hs-ix»ws 


mew mam ft 


AbbtLaba 
Am Cyan 


BrowpGro 


CdfntfNca 
OtrfRsctvx 
FiBakFtab 
HeiltaMvr 
indftA2i5ct 
JkCNW 
JohnCnpf 
LanaSNnS 
Maten2pf ' 
NaMvclnd 
PatrlRasaf 
PSNH345MG 
SPSTec* 
SttrtMutSec 


Tyco Lob* 

W&no«2nf 


WJOMttlM' 


Air Prod Am Baker 

AmWairWk* AndrsOay 
BarNCR Becton Dick 

. BrwngFar Burlngf laa 

GaaHnd CatanpfA 

□nG744pf CncaCofa 

ConaNGiyr .CnPwMSm , 
-DefEWtof' . ErOantodr . 

'. FMatnwd a . Gaplrvc., , 

- HarifagCms HarffCeAipf 
hDCHM363pf inaratfTac 

jarGa788bf J*rC*875PL 
LaaaPlatt - UHvEll 
Marions McOonld 

NBDBcps NaiGyusum* 
NawaH ■ ■ Orton Ca pf . 

PhEI ltopf - PoMatch Pt 
PSEG418nf PS EG43 0nf 

Smucnrs ‘ Southtmd 

Stevens JP StaneWeb 

Union Elec Unb lllvnn 

VoEPMQbf VUIcan Matt 

wettsFodipf White Cons 

Xerox C p 


AmCapitSd 
ArmWIn 
Banal SSOpf 
CNAFInl 
OtasMnh 105 
-CafOaspfC 
CarnoGl t 
EiflWa 
GoldWstFn 
HiighesUiPlv 
InbxPwnf 
jofmsnCn 
LoneSta lad 
McOonatds 
’resto 


PSIad3S0Df 

Ray order n 

SoufttlndPf 

TriConf 

UnlvFd* 

WoMHoriPfA 

Wootworth 


.NSW. LOWS .11 


Tim Motors 
LagrPelrir. 


ClrdeK* . 

ManbattHtl. 

ThampMad 


EngeihardCP 

FlatrtsPtrn 

Wbtttakr 


Ided Basic 
RabrtsnH 



NEW HIGHS 34 


AmCentlmt 

ChompPnj 

ConStrwl - 

WacHlScfi 

PutkOwii 

JWPred 


BDM lots 
Oarmmom 
Data ram 
Money Mbi 
P rattLams 
SuprFdwI 


BanaifFna 

CormellY ' 

FalrmntFlDf 

NWidPldn 

SJW* 

Trtangcp 


BtamJnpf* 

ConSroreo 
Kay Jewel n 
Noel Indus? 
Sdieib Earl 
. VO18P0T* 


NEW LOW5 


Com toco 
Panel fCp 


vlFtangEnt 

RTCTransp 


MottsSmkt 

WlenerEnln 


Comnlwlities 


Abx 13 


Clesa 

Htah low dm Ask Ch*g* 

SUGAR 

Frendt francs per metric tea 
Dec 1J05 1775 1779 1782 —47 

Mar 1J34 1790 1 774 1777 —Jt 

Mav N.T. N.T. 1-422 1430 —36 

1J93 1J7S 1J69 W 72 —a 

Od N.T. N.T. 1491 1600 —34 

Dee 1718 1714 ljio 1725 —36 

Est. voi.: 1700 tat* of 50 Ion*. Prev. actual 
Mies: 1.7R) tats. Open taiaro*: 2443a 
COCOA 

Fraodi francs per io* kg 
Dec 1J40 l«0 1 J35 1J4S —7 

Mar 1J80 1JS0 1773 1785 —20 

f N.T. N.T. 1795 — —10 

JIV N.T. N.T. 1700 — —15 

N.T. N.T. 1.910 — — 10 

Dec N.T. N.T. 1.91 D — —15 

Mar M.T. N.T. 1.929 — —15 

E*L «L: 9 lots of 10 tarn. Prav. actual Mies: 
7 loti. Open interest: 488 
COFFER 

x* Crapes per 100 kg 
Nov N.T. N.T. — 2770 —25 

Jan 1100 2,100 2.100 XI 25 —18 

Mor N.T. N.T. 2095 2-110 — 23 

May N.T. N.T. 2792 1115 —10 

Jfv N.T. N.T. 2790 24 15 —20 

N.T. N.T. 2100 XI 25 — » 

. M.T. N.T. 1180 2.123. — 20 

Est. voL: 2 lots al 5 tons. Prav. actual safes: 
2D lots. Onan Interest: 304 
Seurat: Bourse au Commerce. 


_ Asian 

Gonunodifes 


Abe. 13 


HONG-KONG GOLD FUTURES 
UJJ per ounce 

Ctase Prevtatrs 
High Low 0W AM AM AN) 
Nov - N.T. N.T. 32X80 32500 32200 234JJ0 
Dec — 32670 32670 32570 327 JO 324J10 32670 
-ion _ N.T. N.T: 327JJ0 32970 32670 32SBu 
Fob _ N.T. N.T. 32970 33170 22870 33000 
Apt _ N.T. N.T. 33300 33570 33270 33470 
Jun — N.T. N.T. 33770 33970 32S70 23700 
Aug _ 34270 34270 341 70 34X08 34X00 34200 
OCT _ N.T. N.T. 3*570 34770 84470 34670 
Vbtume: 24 Wl of m« 

SINGAPORE GOLD FUTURES 
UJJ per ounce 


High 


S&PIOO 
Index Options 


,*»r. 12 


PrK* He* dk Joe Mt 

165 — — — — 

PB 21% 21% Sft 21% 
1» M MX It Mb 

ao m n rr% 12 

M 4 « Pl I 

« lft J* ft, 41* 

m ft n* 2 7* 

no in* - - — 


Htr Dec Joe Fee 

1/14 Vlt UU - 
I/M 1/16 ft 16 

i/ii 1/1* vb *nt 

UB Vlt K lft 
1/14 1 1/16 11V 7» 

S/H 3 A 41 
4ft 4ft 6ft i*. 


Commodity Indexes 


Moody's. 


Reuters. 


DJ. Futures. 


Close 

NAf 

u+zro 

NA 

NA 


Com. Research Bureau. 

Moody is : base 100 : Dac. 31. mi. 

0 ■ preliminary; f - final 
Reuters : base 100 : Sea. 10. mi. 
Dow Jones : hose 100 : Dec. 31. We. 


Previous 
914JQ f 
1.741A0 
121J34 
22A50 


Market Guide 


CBT: 

CME: 

JMM: 


NYCSCE: 

ntCc: 

COMEX: 

NYME: 

kcbt: 

NYFE: 


Otioeae Board of Trod* 

Chicago MorcoctHe Exchtxtge 
Interne HcBof AWittary Morapt 
Of ancago Morcorrtile Exchcng* 

Now Yarn Cocoa. Sugar. Coffee Exchange 
Haw York cotfan EKfiange 


Cunt m odify Ezdnnpt, New Yori. 
New York Mfrsantne E 


_ _• Exchange 

Kansas Cliv Board of Trad* 
Now York Futures Exchoaga 


Ttdaia# veto* s»,« 

Trial call e*caW.«L3S 

TMpatHMt 96744 

TOM Pd spot BL8ITJB 

k 'gj/GX'. 

fW19IJf LB* UR 
Source: CBOS. 


awwaw+m 


DMRitures 
Options 


Nr OtrmaoBark-asatentlcLaabpefaartt 


Feb N.T. N.T. 

Volume: 65 lots of 108 ea. - 
KUALA LUMPUR RUBBER 
Malaystan cants per Uta 


Same 

32560 

329J0 


Soft la I 

»«0 


Bid 

Dec iBun 

Jon 18X00 

Feb 18X00 

Mor 18470 

votwne: 2 lot*. 
SINGAPORE RUBBER 
Stagppore ends par Idle 


18208 

18X00 

18400 

18570 


181 JO 
18X00 
18470 
1SS0O 


a 


RSSl Dec. 
RSS 1 Jon_ 
R5S2D4C. 
RSS 3 D« ^ 
R554DK. 
MSSDK. 


IM 

155JO 
mw 
T49J0 
147 J0 
14350 
13BJO 


15470 

15675 

130-30 

MBJ0 

USJD 

140J0 


KUALA LUMPUR PALM OIL 

Mo Wystan ringgit* par 23 ton 


PrevVa v * 
Bid As 
15X50 15875 

15975 1WJ0 
15170 15240 
MOJO “■ 
>4570 
14078 1420Q 


m 


Npv. 
Dae. 
Jan _ 
f=*e . 
Mar . 


May 

JIV 

Seg _ 

Velum*; | loft of 25 font 
Source: Reuter*. 


460. 

. *70 
695 

709 

710 
710 
710 
710 
700 


6 K 

<75 


715 

2S 

no 

ZB 

730 


Proviso* 
BM Asa 

*55 4*3 

700 714 

25 3 

no 7ao 

710 720 

7W) 790 


| Ijondon ^letab 


due 


/he. 13 


66240 

6*7-00 


PmlHS 
■4* ASK BM 4Uk 

ALUMINUM 
SferilBS per metric tun 

65X00 658J0 *mbq 

Forward 68370 68X50 tv-ff l 

a ®- 0 » 

COPPER CATHODES (Sfoadard) 

Stcrllna per metric ton 
5POt »U0 KUO 94870 


97X00 

992J0 


9504Q 


97370 97*70 97200 97670 


41 


( 

rribinme 

Mir. 13 
Pob-Setn* 

Dec 

MW 

Jem 

Dec 

MV 

Am 

US 

281 

232 

881 

837 

052 

IJ7 

tut 

205 

U6 

051 

888 

X59 

107 

Wt 

S3f 

886 

U3 

AI7 

CJd 

15* 

BJ6 

U* 

MB 

U* 

062 

LIS 

173 

LM 

117 

081 

801 

085 

t» 

— 

287 


EsAnatadfeM V*Lr M* 
calls: Tut sol 2378 apaataUMB 
Pan ; Tua. **L 3789 •••> lot. 33JH- 

Source: CME 


Forward 
LEAD 
Sterling H r m a il Ic taw 
Saat 28*00 S5J0 28540 28640 

28370 28250 an K 


Forward 
NICKEL 
Startln* Par metric ton 
Spat 283070 285X00 2*7570 288000 

28607C 38807S 291QJ0 OT570 


r arw a r d 

SILVER 


Spot . 43IJ0 432JB 42X00 

gygSmtanO 4400 

Sferifie per matrte Mir 
S P" 1 Swn. suw. — 

Forward Sure sun _ 

ZINC 

Staiitaa pot HMlric tan 

SMI 40200 40*90 41000 

Source: AP. 




<1X00 


London 

Omimoiiiiles 


Mw. 13 


Clou 


SUGAR 


Dec WJ0 13770 13770 U3-40 14070 1*370 
Md 15740 15X20 15X20 >54.40 157-60 >57^0 
Mar 16U0 15U» 16X70 UX30 16X6016170 
AM 16670 16470 14570 165J0 16770 14870 
00 171 JO 171J0 17170 171 JO 172-40 T72B0 

VUuma: 2704 tats of 50 tom. 

COCOA 


Jtr 


IS _. 

DM 1J9Q 


1J1S 1631 1J32 US 1J33 


1-706 >J08 1 J09 1-Tll 


1-^ 1^33 1^38 1.7*0 
1JS7 I- 7 ** 1.761 
HS Vff I- 7 ? 7 1-763 1JS5 MJO 


Jnr 


N.T. N.T. V65 UB 1J79 1JB0 
_ Vctwme.- 2AS8 tat* of 10 hjn*. 

COFFER 

*tarftag par metric too. 

8N : in • U40 MB im tjm izw 

jto WB n’S 1 ** 75 i 5 m : w 

M5T I® 1^1 JS 17*0 1 .908 1,910 

re is i 7 s is m is is 

Volume: X211 lata of 5 iom. - 

OASOU. 

Brer pgr metric toa 
mot 26X00 269 JO 26973 267JS 24800 
2C7.23 2ttJ3 *nwi 71J m S 

2000 2S2J3 2S3M 2SISJ TOJ0 

252 2S-2 2«2 JgJs w*oo^ wSe 

236JD 23&J0 23(00 MtaitniS 
w— 2^9° 53370 Sxoo TO70 TO0O 

St? SKg *5* 2to» 2nS 

22*70 24000 
volume: 3729 tots of 100 tors. .* - • - 

Cm iPEOl L IB RENT) 

UA-doRrea pot bemtf 

So §5 u-u S-S *■ 50 »J0 29 J5 

S 25 3U0 2X75 2871 eeS 

NT 1 S’]? VJ* £8> 

H-T. 2741 JSUD 9 J *m 577# 

jj- H.T. 2JJJ7 2335 24 uj 27 jn 

N-T. N.T. 2675 7670 Sjo ItS 



AM 


Votome: *48 leta of 1700 barrels. 

Sources: - - 


4?«nre Ex- 



Ncn.12 


P fa c wmt 
Offer bi 


^ownttMl 
MrtMT 
I raarwn. 


Yield 


233 

T25 

70S' 


133 

73S-. 
731 ’ 


7J6 

7J2 

7J8 


_ BM' OH«r 

arearbaad IK urazlojlfnj 
Source: SohmcnB n*m 


YW 

1072' 


ywd 

NA 

«A 

Kj. 

Prey. 

YftM 

- HA. 


Mans j 


^ Treat ttytadw: Ul7* 

uwam tormeMK+mr 
Avoroia yield: % 

Source; AtorrmLnKB. 


Cash Prices 


Commodity omi u* It 
Coffee * Santas, lb_ 


Noo. 13 
Ye- 


Wad 

153 


PrtnTdOth 6*rao 38 %, vd _ 

»«• BgMta fPttt.L fon—ZT 
Iren 2 Fdry. Phiku ton 71 XM 

^S p i!? 0 1 h " Plrt - »■» 

Load Soot, lb is->9 

CMP*re»eet,Jb 67-7B 


1J4 


Tin (Straits), ID. 


Zinc. E. SI. I_ Boats, lb . 
PailodfuRLoz _____ 

Silver N.Y_oz 

Source: AP. 


075 

182-183 


62271 

21X88 

8M9 

2* 

SPA 

6.1382 

US 

14f% 

7J3 


Dividends 


Company 


Aba. 13 

Per Amt Pay Roc 
DEFERRED 
Lincoln Inc Ufa Insurenao . 


EXTRA 

Vtdlov Noti Bancorp 


INCREASED 

ate 8 


Wilfred 

Amor.Edurafc 


I Bancorp 

INITIAL 


§ 


Q‘ 


.10 

14 12-6 

.12 

1-1 12-M 

05 

1-1 12-1J 

M 1 

12-27 13-6 

05 

>2 12*6 

03 

1-3 11-29 


STOCK SPLIT 


USUAL 

Amcast inds Cp o 

AmeriTrua . - n 

l|ta Z 

Colonial Go* Co. - q 

Durham Corp - o 

g»*1lt* B«zsjy» 3 

Sn.^^dTua.Co G 

Forum Gtnua 0 

General- ' Q 
5*1*0+ Pnjuta Q 

H«n»rereni Paper 0 

MtottPitaPret, o 

jCay^SSre “ 

S^SSiB. 8 

»- 

H^S'TwFreeNM M 

rSiSrl* PreeNY 




jj^i^ iw h-Ken 1 db 
SwiTruB Banks 

w^emSiris#* 


.11 1270 12-4 
JO' 12-13 11-22 
JS 12-12 11-37 
73 1-2 n-17 

- 79 12*13 11-39 

JS )»-» 11-27 

72 19-18 11-26 
.11 IM 11-25 

73 1-24 1-3 

71% 2-3 1-20 

.12 1-31 12-31 
. 73 12-10 11-25 
7* T2-15 11-26 

74 IM ))-» 

. JO- 12-16 11 -a 

.73 12-27 12ta 
.10 12-14 12-3 
77% +2 196 

.14 12-10 1M4 
J1 12-10 1M4 
729 19-16 12-16 

OTi 12-16 12*16 
. 7? 12-14 H-U 
748 19-16 12-14 

.10 IM 1142 

75 12-13 11-29 

76 ,-t-l 1930 
' ,J1 V2 12-13 

70 1M6 IM 
-12 .IMS -IM 
j7 n-» ii*n 

70- 1149 11*12 

M DU 11-a 

• .10..1+ i»-a 



wUSr ’ nw P*t*M Y; * binli^iri HtM- 
Source: UPj. * 


gno mic 






i V* 

l**' 


i • 


kill 


bled t. 


c<~ 


r+.Y 1 


I. 




sterwtio 


Ik / I 

UfeMAItlUE 

; **lprry* • - , 

S * ,kr,,r ‘> «-•-«* B 
1 •' 6. UG 


VT-- . 




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' 0p eratic 
for Ol 


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a >-p^. r 

* eat 


















































INTERNATIONAL HERALD TRIBI NE, THl'RSDAY. NOVEMBER 14, 1985 


< l »\ 

• 


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. ■> .-I 
. ■! Vl 

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( .i-lilViw* 







U.K. Industrial Output Tin Crisis Demonstrates Peril of Pacts 
Up 1.5% in September 


Knsm 

• LONDON — British industrial 
production rose a proviaonaHi 
percent in September following a 
downward revised gain of 03 per- 
centmAugust, the Central Statisti- 
cal Office said Wednesday. TTm 
A ugust gain had previously been 
estimated ai 0.5 percent- ' ■ 

, Hte September rise in industrial 
outom put the 12-month increase 
at 5.6 percent, up -from 5.4 percent 
m August, the agency said 


jcoothuiiflgbtit that it was too early 
lossyif ihe growth rale was slack- 
ening.. Manufaauring output was 
also continuing to rise although die 
strength of- the increase was diffi- 
cuh to. estimate, they said. 


(Continued from Page 9) 
as the willingness of its members to 
make it work. 

Uketbat for tin, the pacts which 
administer world trade in cocoa 
and rubber are both essentially 
buffer stock agreements, relying on 
centralized purchases and sales to 
keep supplies and demand in bal- 
ance and maintain prices within an 
agreed band. 

Bui unlike tin. these agreements 
buy only on the physical market 
finance 


At the same linw, the agency 
said, manufacturing output fell 0.2 
percent in September after a 1-per- 
cent gain in August, revised down- 
ward from 1.5 percent. The I2r 
month rise in September was put at ^ 

12 percent, down from 1.8 percent • cenL 
in August 

„ However, mineral extraction 

uownnnent sources said they other than metals feU 35 percent, 
saw me growth m industrial output ' the agency 


About 35 percentage points of 
the 5.6^percent year-to-year rise in 
industrial output could be attribut- 
ed to increased coal production af- and do not require credit to fir 
ter the end 'of the UX coal strike, buying and selling of future con- 
the sources said. tracts such as those traded on the 

• - . - - • . . London Metal Exchange, the 

h Waaunng to swot world's lading mull trading fey 
sard the jnotqr-vehicles sector niTW 


showed about a 9-perceaknse in 
the 1985 tinrii quarter compared 
with the same period last year. 
Over the' same period, textiles rose 
around 6 percent, and mechanical 
engineering and 'electricals. 4 per- 


Tbey are consequently not as 
vulnerable to a sudden loss of con- 
fidence, like that which forced the 
tin pact’s buffer stock manager to 
announce he had suspended price 
support buying on Oct. 24, leading 
to suspension of tin trading cm the 
LME 

Another difference from tin is 
that aQ purchase contracts are cov- 


ered by existing cash reserves. 
Dealers would never be left having 
to wail for assurances from sover- 
eign states on whether or not they 
will honor their commitments. 

Ia addition, (heir operations are 
controlled by much tighter rules. 
This diminishes their market influ- 
mce but prevents them from be- 
coming more deeply committed 
than their members are ultimately 
willing to stomach. 

Tin’s problems show what can 
happen if a buffer stock continues 
to mop up surplus world output 
over a long period, particularly if 
price support levels are artificially 
high. 

Producers are encouraged to 
produce for the buffer stock while 
world consumption is eroded by 
substitution by cheaper alterna- 
tives. A balance between world 
supply and demand is achieved 
only by an ever-expanding buffer 
stock. 

The situation is made worse 
when some major producers do not 
belong to the agreement and enjoy 


the windfall of higher prices with- 
out having to make any sacrifices. 
This is the position of Bolivia and 
Brazil in the current tin crisis. 

The International Coffee Agree- 
ment, which uses export quotas to 
curb price swings, has proved more 
flexible than roost in managing the 
world coffee economy. It has no 
buffer stock, with its attendant dif- 
ficulties, and since producers have 
to finance their own excess stocks, 
overproduction is discouraged. 

Toe pacts for wheat and sugar, 
both abject failures in the past, 
have for the momem abandoned 
any attempt to control prices but 
continue as administrative pacts, 
providing a forum for consultation 
and ex chan ge of information. 

One way in which some com- 
modity pacts may evolve is along 
the lines of international study 
groups, like those for rubber as well 
as lead and zinc. By discussing the 
market's long-term prospects, the 
groups uy to ease the disruptive 
cycles of world glut and shortage 
which all commodity pacts seek to 
avoid. 



of Hope in Creation of Firms 


(Continued floor Page 1) 


years of restructuring that have 
wed its emrie 


aency.stiH 
faces a need to shut hs works at 
Ravenscraig, Sco tland ’s last inte- 
grated steel mill. So far, this move 
has been blocked by political oppo- 
.rition. 

Britons are also concerned that 
BL PLC, the state-owned company 
built from, the merger of mrer of 
the great names in British automo- 
bile manufacturing,, survives only 
because of con tinuing government 
subsidies and the wiffingness of Ja- 
pan's Honda Motor Co. to enter 
into joint-product agreements thai 
have plugged gaps in the product 
line of BL, formerly known as Brit- 
ish Leyiand. 

The uneasiness caused by such 
long-standing situations has been 
aggravated recently by the well- 
publicized woes of several compa- 
nies that had been regarded as sym- 
bols of a bright future for Britain in 
information technology. 

This sector, more than any other, 
represents for Europeans the trou- 
bles that they have had competin g 
with Japan and the United States. 

The sharp contraction this year 
of Britain's home-computer indus- 
try, which had given Britain mare 
computers per capita any oth- . 
er nation in the warid, drove Acorn 
Computer Group PLC into the 
arms of Olivetti SpA of Italy, and 
the market leader, Sinclair Re- 
search Ltd, into a liquidity crisis. 

Both companies faile d to pene- 
trate the American market, as has 
Applied Computer Techniques 
PLC, a leading home-grown; pro- 
ducer of more expensive personal 
computers. 

Indies International FEC^The ' 
state-owned start-up company that 
was intended to sweep Britain into 
the world semiconductor industry, 
was sold last year to Thom EMI 
PLC a troubled consumer-elec- 
tronics company, and.it soon ran 
into major quality problems with 
hs memory chips. 

The greatest reason of all, of 



Rate, 

Yet Risjng Employment 

Despite a rising unemployment rate, Britain’s total employment has actually 
grown, largely because of a growing number of self-employed workers. 

Total Employed Labor Force Annual Unemployment Rate 

June figures, in millions Figures exclude those who have just 

left school and have not had a job. . e<v 
Since 1 983, the figures have -15% 



coarse, to question the wisdom of 
the Thatcher administration’s eco- 
nomic policies has been the persis- 
tence and depth of British unem- 
ployment. •' 

. According to the government’s 
figures, the seasonally adjusted un- 
employment rate stayed steady at 
13.1 percent in October. On an un- 
adjusted basis, the rate dropped to 
.135 percent of the work force, 
from 13.8 percent- in September. 
But the underlying rale has gener- 
ally been rising for several years. 

“None of us realized bow big the 
unemployment problem would be- 
come,”; said Sir Terence, who fa- 
vors most of the government's eco- 
nomic policies.. “"With 3Vi minion 
unanployed, a lot of people, would 
•saji that we are still in recession — 
indeed, most of my countrymen 
would.” . 

• The record rate of new-business 
formation, with 54,000 created in 
. the first six months of this year, np 
10 percent from the year-earlier pe- 
riod, offers the brightest omen for 
Mrs. Thatcher’s efforts for private 
enterprise. 


INTERNATIONAL POSITIONS 


UK/US SALES 

Aim MARKETING MANAGER 

A US express company is looking {or UK/ US sales and 
* - ' ' US/UK- market. 


marketing m ana g e r to develop US/TJ 
Ideal applicant will have: 


— five yean sales experience in the US 

— professional sales training (certificate 

— experience with computer statistics and feasibility studies 

— two years experience with electronic m *3 or {ac d milc service 

— mwti« nwkAlng experience in radio, television and newspapers. 

Salary range £122,000 
Appiy in meriting tor 

Airborne Emress, PoyU Trading E state, 
pirwfc.y Road, Ccdnbrook, Slougfa, Beekabire, 8L3 OHQ. 


OPERATIONS PERSON 
FOR OIL TRADER 

with experience in 15 day “BRENT” TRADING and 
petroleum related matters. L/C’s, nominations, bookouts 

and follow up. . 

EEC national with commercial background and first doss 
English for European trading eo. 

Pleats reply •©: P.O. Box 034 182, 
International HareldTribuwfc 63 tang Aon, WG2E9JH London. 


Britain now has 140,000 more 
businesses than when Mrs. Thatch- 
er took office six and a half years 
ago. The figures do not include 
uncounted thousands of people 
who have set up small businesses 
and did not register with the tax 
authorities. 

Some of the new businesses are 
undoubtedly a desperate response 
of unemployed Britons to poor job 
prospects in traditional fields. 

Most of the new businesses are in 
the service sector, reinforcing the 
declining share of indnstiy in Brit- 
ain's economy. But the boom also 
reflects an unmistakable rise in the 
status of entrepreneurs in all sec- 
tors. - - 

. “I have bcen astonished _J>y the 
nuinber of young people~who are 
talking about setting up their own 
business,” said Leslie Hannah, a 
professor of business history at the 
London School of Economics. 
“There’s an unblocking of inhibi- 
tions that made that an ungentle- 
manly thing to do.” 

Government programs are subsi- 
dizing the trend. One that seems to 
sum up the government’s philoso- 
phy that only private enterprise can 
solve Britain’s job crisis provides a 
$55-a-week grant for a year to any 
.unemployed person trying to start 
a new business. 

In addition, capital-gains taxes, 
although still roughly double those 
in the United States, have been 
reduced, and marginal income tax- 
es have been cm to 60 percent from 
98 percent. The marginal-income- 
tax rate is the rate on a taxpayer’s 
last pound, dollar, etc., of taxable 
income. 

The subsidy programs have been 
especially helpful for small service 
companies that do not require capi- 
tal investment, but more ambitious 
ventures are also operating in a 
more supportive climate. Accord- 
ing to Treasury figures, Britain cur- 
rently accounts for two-thirds of all 
venture capital raised in the Euro- 
pean Community. 

The equivalent of S213 million 
invested m Britain in the first six 
months of 1985 represents more in 
terms of national economic output 
than the $1.3 billion invested in the 
United States, according to the 
Treasury. Such developments may 
have an important long-term im- 
pact on Britain. 

“Comparison with the United 
States is logical because that’s the 


ATTORNEY 

The International Finance Corporation, an established 
international investment institution based in Washington, D.C.. 
and an affiliate of the World Bank, isseekmgan Attorney with a 

minimum of six years' experience, to join its legal staff. Applicants 
should have corporate and financial experience, preferably 
international, including negotiation and preparation of _ 
investment and lean documents. 

Fluency in English is essential; French and/or Spanish desirable. 
The position will involve frequent travel. 

A competitive benefits package Is offered, including relocation 
expenses on appointment and provision to maintain cultural ties 

with home country. ■ 

Applications will be treated in the strictest confidence. 

Please send detailed resume to: 

Miss KoflwnHc Lmifltcxri. RixnfitaMff Offer. 

International Finance Cvrpomthm, ISIS H Sired N. IV., 

R^m 1-11-141 Washington. D. C. 20433 



IFC International Finance Corporation > 


said Pratt Thompson, an American 
who migrated to Britain 20 years 
ago and was managing director of 
the Jaguar Rover Triumph division 
of BL before founding Aidoom In- 
ternational Ltd., an industrial -de- 
sign company, in 1978. 

The growing class of self-em- 
ployed workers, some of whom hire 
others, is a major reason that total 
employment has actually risen by 
more than 600,000 in the past two 
years, a striking advance by Euro- 
pean standards. 

The government has had trouble 
attracting attention to that achieve- 
ment. One reason is that new jobs 
have not offset the combined total 
of lost jobs; and youths and women 
entering the wprk force, with the 
result that the unemployment rate 
generally has risen even as the over- 
all number of jobs has increased. 

The luster of the new employ- 
ment figures has also been tar- 
nished by the lower quality of 
many of the new jobs. 

- The people losingjobs are men 
with salaries that support families." 
said the Rev. Michael West, head 
of the Sheffield Industrial Mission, 
which ministers to businesses in the 
hard-hit English steelmaking city. 

Noting that the most recent lift 
for local employment has been the 
opening of a McDonald's fast-food 
outlet, he added. “The people get- 
ting them are mostly women and 
youngsters, at low pay and part- 
time." 

The government's efforts to revi- 
talize a strong private-sector inter- 
act The restrictions on union pow- 
er, for instance, not only give 
managers leverage but also make it 
easier to push through privatiza- 
tion, a program that has been re- 
sisted every step of the way by 
trade union leaders but is support- 
ed by many rank-and-file union 
members. 

Of all the government's pro- 
grams. privatization seems most 
certain to have a lairing impact 
Mrs. Thatcher has used it to shift 
the burden of proof on whether the 
government should be involved in 
business to those who favor such a 
role. 

Even the Labor Party, which 
oversaw most of the efforts toward 
nationalization, has reconsidered 
its position. Roy Hatters] ey, the 
party’s spokesman on financial 
matters, said last month that only 
utilities should be state-owned, and 
he said that more employees should 
own stock in the businesses they 
work for. 

Mr. Hattersley’s words must 
have gone down weD with Mrs. 
Thatcher. She firmly believes that 
employee-shareholders are. as 
workers, more profit-conscious 
and. as investors, budding capital- 
ists. 

Tax changes have encouraged 
private industry to set up more 
than 1,000 employee stock-owner- 
ship plans, compared with 30 ia 
1979. 

Offerings of government hold- 
ings to private investors, such as 
last year’s 555-billion sale of 50J 
percent of British Telecom, regu- 
larly include special incentives to 
the company’s employees to buy 
shares. 

The privatization program has 
been dramatized with the sale of 
major companies: British Telecom; 
British Aerospace PLC, Europe's 
largest maker of aircraft and satel- 
lites; BritoQ PLC, holder of the 
government's extensive North Sea 
oil interests; Associated British 
Ports PLC, operator of most of 
Britain’s major ports: Cable & 
Wireless PLC, a leading telecom- 
munications system operator; 
Amershara International PLC. 
maker of radiation products for 
medical applications; Jaguar PLC, 
and Inmos. 

The sales of these enterprises. 


along with others planned for the 
next two years, will shrink the pro- 
portion of state-owned industry in 
British output to 6 percent from 10 
percent 

The government's justification 
of privatization became more elab- 
orate as the program expanded. 

“There was an assumption that 
we should be reducing the size of 
tbe state, but it hadn’t really been 
thought through,” said John 
Moore, the Treasury official re- 
sponsible for privatization, in de- 
scribing the program’s early days. 

Responding to critics wbo 
charged ihai the program amount- 
ed to nothing more than "selling 
the family silver” to reduce bor- 
rowing needs, tbe Treasury bas 
come up with a host of sometimes 
conflicting goals, such as these: in- 
creasing competition; expanding 
the pool of Britons willing to invest 
in shares; freeing management 
from political interference; open- 
ing the way for tbe enterprises to 
expand into new businesses, and 
reducing the government’s indus- 
trial role until its subsidies are 
more visible to taxpayers. 

This last point would presum- 
ably make the taxpayers more in- 
clined to support politically diffi- 
cult cutbacks, as in the coal 
industry. 

Tbe Thatcher government as- 
serts that such achievements are 
shaking Britain out of the econom- 
ic lethargy that began under previ- 
ous administrations and are giving 
the country a fighting chance of 
ste mmin g its decline. 

Britons can show whether they 
feel all this has been worth the great 
human cost in unemployment and 
increased divisiveness at the next 
national elections, expected in late 
1987 or early 1988. 



tags* 1 1 


NOTICE OF REDEMPTION 
to Holders of 

G.T.E. INTERNATIONAL INC 

8 ] / 4 % Guaranteed Bonds due 1986 

pur ... 

are to be redeemed at par on I sill November 1985. Tbe following bond serial numbers have been drawn foi 
redemption in the presence of a notary public at a price equal 10 ioo% of the principal face amount. 

BONOS OF $1,000 EACH 


95 

l«“ 

J 447 

Wj 

482 -> 

10372 

10666 

10934 

1 1443 

I 20 ll 

>2344 

12609 

13359 

146 a 8 

14998 

MSOi 

14786 

IOO 

I??s 

4 * 4 ? 

7049 

9832 

IOJ 77 

10471 

■ 064 ° 

■ 1468 

IU &6 

11350 

12615 

133*3 

1370 J 

U 003 

14506 

14790 

>UI 

IttO 

4051 


9 * 3 ° 

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irt -4 

■0044 

I I 47 J 

12090 

I 23 M 

12614 

1336 ’ 

IJTOS 

I 4 W 7 

14512 

14794 

III 

»574 

4014 

T»| 

9847 

103*9 

10481 

10444 

1147 * 

I 2 C 45 

12 JS 4 

(1625 

1)372 

13714 

14014 

14518 

14868 

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ivrq 

407 ? 

X 

9851 

l °343 

10681 

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11482 

12100 

12363 

12629 

‘3377 

13710 

1401 B 

14522 

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12 b 

1 ?*? 

4138 

085 - 

10348 

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10440 

1 I 4 BI 

12104 

12344 

12634 

13382 

13121 

14023 

14528 

14818 

1:5 

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4 H 4 

7 S 65 

4*47 

10403 

10^50 

1046 ? 

11444 

12110 

11 374 

12640 

133 K 

13729 

I 4 IO 5 

M 532 

14813 

351 

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4174 

7*44 

4405 

10408 

10706 

10470 

11449 

12116 

I 2?79 

12445 

13)94 

137)4 

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148—7 

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423 } 

8002 

4404 

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109-4 

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11667 

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448 

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9445 

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10746 

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8744 

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10767 

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8744 

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13*00 

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si 1 $ 

48*4 

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101 JO 

104*0 

10776 

KIOI 

11922 

11184 

IX 45 I 

12763 

13464 

1 3*04 

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1*400 

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7 S 9 

4174 

4871 

8&90 

1014 1 

10484 

10— *2 

11*45 

11928 

11 141 

1241 S 

11767 

134 M 

13810 

U.U 9 

14604 

I 494 T 

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2200 

4874 

8415 

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10484 

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12197 

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13816 

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11 . 94 s 

11937 

12201 

12465 

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13480 

13820 

■4359 

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14957 

421 

2249 

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84*8 

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11310 

11441 

12207 

12471 

12881 

13485 

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14364 

■4618 

14962 

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2240 

si S 3 

4004 

IOI 66 

10504 

10*02 

IIJI- 

1144 * 

12212 

12476 

12886 

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13*32 

14340 

14422 

14966 

449 

2240 

5 «s*> 

9036 

10177 

10510 

I 080 * 

11342 

11453 

12117 

12481 

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1349 ) 

13*38 

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14428 

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1007 

2244 

5574 

9050 

T 0204 

10514 

16*12 

11324 

11919 

12221 

124*4 

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104 ? 

4334 

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9144 

10204 

ao?so 

10818 

1.331 

1 1964 

12228 

12442 

12962 

■ 3504 

1384 * 

143*5 

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14978 

10 . SO 

4343 

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415 ' 

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10124 

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12232 

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14390 

H 643 

14981 

10 ?? 

2362 

4 SS 9 

91 J? 

10119 

105 JO 

10827 

11341 

11971 

12237 

I 2?02 

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13849 

14395 

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14986 

1074 

Jj 66 

4?43 

4162 

10241 

«S 3 J 

10*33 

11344 

11978 

12242 

12506 

11414 

13120 

14864 

■4400 

14678 

14991 

114 ? 

4374 

4 J 64 

4167 

>0275 

10540 

10838 

11352 

114*3 

12247 

HIM 

1)078 

13325 

13868 

14405 

14682 

14996 

1194 

1482 

4574 

4171 

10279 


14843 

II 3 J 6 

11488 

12251 

12515 

13083 

135)0 

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14410 

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1)000 

IJOT 

IS 70 

4 -A) 

4407 

102*4 

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10848 

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12258 

I 2?13 

13040 

1)557 

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14415 

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1312 

2440 

4584 

4412 

10288 

10554 

10*12 

11.346 

11499 

12263 

12127 

13094 

13502 

i) 88 : 

14419 

14496 


13 m 

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2441 

6500 

6544 

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1408 

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4723 

4801 

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13639 

1.4943 

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M 72 

3804 

4727 

0807 

10352 

10616 

1091 3 

H 442 

12059 

tijij 

12589 

■AMI 

■3643 

1)949 

144 ll 

1*750 


U 74 

3840 

6702 

48>3 

10358 

10421 

16918 

1144 * 

1204 ? 

12328 

12594 

13160 

13 M 

13980 

14487 

14755 


M 4 -* 

38.10 

7034 

9 » 1 ? 

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10654 

10424 

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12049 

■2333 

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13164 

13653 

13084 

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M 759 


14«7 

3848 

70 J 4 

48 lJ 

10368 

10442 

10430 

II 4 ?H 

12074 

1133 S 

■ Ml 

13170 

13694 

13904 

14497 

14763 



Bonds not listed above are not affected by this redemption. 

Bonds so designated for redemption will become due and payable on i$th November <985 in the currency of the 
Uni red States of America at tbe office of the principal Paying Agent, Manufacturers Hanover Trust Co., Corporate 
Trust Office, New York, or at the holders option to the other Paying Agents named on die foods. 

Payment of the redemption price of the bonds felled will be made upon presentation and surrender of such bonds 
with Coupons No. 15 and subsequent Coupons attached. Coupon No. 14 should be detached and encashed in the usual 
manner. 

[merest on the bonds drawn will cease on and alter 15th November 1985. 

Under tbe United States Interest and Dividend Tax Compliance Act of 1983, any payment made within the United 
States, including payments by transfer to an account maintained by the Payee with a bank in the United States may be 
subiect to reporting to the United States Internal Revenue Service (IRS) and to backup withholding of 20 °/. of the grass 
proceeds if payees nor recognized as exempt recipients fail to provide the paying agent with an executed IRS Form 
W-8 in the case of non-U. S. persons or an executed IRS Form W-9 in the case of U.S. persons. Those holders who are 
required to provide their correct taxpayer identification on IRS Form W-9 and who fail to do so may also be subject [o 
a penalty of U.S. $50. Please, therefore, provide the appropriate certification when presenting securities for payment if 
paymrnt within the' United States is sought. 


G.T.E. INTERNATIONAL INC 

By Manufacturers Hanover Trust Company, 
Paying Agents, New .York. 


How CitiBanking' Electronic L/C’s speed trade 
to deliver the goods to your bottom line. 


The rules have changed. If you’re still 
handling Letters of Credit in traditional ways, 
ynu could be creating unnecessary headaches 
for yourself. And missing out on profit oppor- 
tunities for your company. 

With CitiBanking, you speed the turnover 
of goods by increasing your control and 
efficiency. You can open new L/C’s in minutes. 
Determine the status of outstanding L/C’s in 
seconds. And manage your FX and cash flow 
exposures much more effectively. All with 


remarkable ease... and unmatched security. 

Tb find out how your Import Department 
can benefit from the world’s most advanced and 
secure electronically delivered banking sendees, 
call the Citibank located near you. 

And put the Citi of Tbmorrow*' 1 to work for 
your company today. 


1 1 

IJJ 


1 rnmc rn rue rm 
LL.U11C tu me L/n 

CmCORPO CITIBANK 


MU('ulua>L.N.A HrmbrrFIMr 








oi *91 


I 


Page 12 


INTERNATIONAL HERALD TRIBI'NE. TH ( ' RSDA Y. NOVEMBER 14 ; 1 985 


business roundup 


COMPANY notes; 


GM Says Its Takeover 
Of Hugh es Is Geared 


The Associated Preys 
LOS ANGELES — Genera! 
Motors Corp. said Wednesday that 
it has cleared the final hurdle in its 
S5-bi11ion takeover of Hughes Air- 
craft Co. 


GM’s acquisition of Hughes was 
delayed because of Securities and 
Exchange Commission objections 
to certain accounting methods that 
GM planned to use in the transac- 
tion. 


GM's statement did not elabo- 
rate on how it resolved its differ- 
ences with the SEC. 

The crux of the dispute was the 


SECs objection to GM plans to 
take a $4- billion charge against 
earnings for the difference between 
the book value of Hughes and the 
price GM paid. 

The purchase would firmly es- 
tablish GM in the sophisticated 
high-icduiology industry. 

Hughes is a leading manufactur- 
er of military missiles and radar 
systems, military and civilian satel- 
lites. navigation and communica- 
tions equipment and industrial 
electronics and instruments. 


Nestle Director 
Forecasts a Rise 
In *85 Earnings 


Grundig, Blaupunkt Discuss 
Cross-Production Venture 


• _ fa* on undisclosed pri«s. 

panies Frarnatome SA and Becm- §„ umc u ler Kreditbank, which six 
will nrnve m BeiU fl& Baumeisiei has 


Eastman Kodak Co. wiU’fonri.A' paiues Frarnatome SA ana ^miiibailk, wtu^-n six 

venture company with Cauaa Sys*-. ciifc de France will arrive m Bajing dou ^ Frankfurt area, has 

terns Inc. of Connecticut to; sell this week to continue talks on tne j nuUioiu Security Pa- 


products that transfer information plan. ■ ... 

recorded on printed snips qf paper' Iberia, Spain's g° v * ra ] “2l aG has sold 7 millirti of 

directly iato f«M turned airtaf- redtrad J?SSi£i!L« it hdd to a 


8 Japanese Exchanges 
Delist Shares of Sanko 


Reuirrs 

TOKYO — Sanko Steamship 
Co.’s shares were delisted Wednes- 
day on Japan's eight itock ex- 
changes, the Tokyo Slock Ex- 
change said. 

The delisting follows the compa- 
ny's application for court protec- 
tion from creditors. Its debts total 
about 520 billion yen (S2.54 bil- 
lion). Sanko shares closed Tuesday 


GM, in an announcement re- 
leased in Detroit. Los Angeles and 
New York, said it planned to pro- 
ceed with a stockholders’ vote on 
the creation of a new kind of GM 
stock. Gass H. to be tied to GM 
Hughes Electronics Corp., a new 
subsidiary being formed from 
Hughes arid some of GM's existing 
electronics operations. 


Reuters 

VEVEY, Switzerland - 
Earnings for Nestte SA will rise 
this year, but the company’s 
profit- lo-s ales ratio, or ma rg i n , 
will decline, the managing di- 
rector, Helmut Maucber. said 
Wednesday. 

At a news conference, Mr. 
Maucher said Nestle's group 
sales rose (o 3S.4 billion Swiss 
francs (about 516.4 billion) in 
the first 10 months of this year, 
a rise of 393 percent from the 
same period last year. 

The figure included sales of 
Carnation Co., which Nesili ae- 


By Warren Getler 

Irttemanotted Herald Tribune 

FRANKFURT — Blaupunfct- 
Werke GmbH and Grundig AG. 
West German consumer electronic 
groups, intend to establish a cross- 
production arrangement to im- 
prove the two companies' competi- 
tiveness in color television ana car 
radio sales, Blaupunkt officials an- 
nounced Wednesday. 


directly into personal computers, t-owned airline, reautro us **™" ~7 atW a held in a 

keiina direction would not be P* ^ ** jnthe financial year ending ! D rtt2. ^l^^Lr^tectronics company. 



transferred. Bosch officials said. 

A Bosch spokesman denied ru- 
mors that his company may want 
to dispose of Blaupunkt. 

Blaupunkt. which is 75-percent 
owned by Bosch and 25 percent by 

a Bosch-Siemens joint-venture, has 
been able to post only marginal 


udio sales, Blaupunkt officials an- profits in recent years, 
tounced Wednesday. It reported earnings of b million 

. Deutsche marks (S2.3 million at 

The airanganrat includes an op- cur7ism raiesj ^ yeafi down 79 
ion for Blaupunkt, a subsidiary of _ eTCCnL ^ >9 million DM in 


mured this year for S3 billion. 
On a comparable basis, the in- 


Taiwan to Ease Import Curbs 

Reuters 

TAIPEI — Taiwan will remove 
import restrictions on 425 Foreign 
products, including color televi- 


down one yen at one yen, the low- sions. cars, fertilizer, wines, petro- 
esi share price ever on the Tokyo chemical materials and ship s ra- 


exchange. an exchange official 
said. 


dars. the Board or Foreign Trade 
said Wednesday. 


On a comparable basis, the in- 
crease in sales would have been 
8.4 percent. 

Nestles group net profit rose 
to 1.49 billion francs in 1984 
from 1-26 billion in 1983. and 
represented 4.8 percent of last 
year’s sales of 31.14 bQlion ; 
francs. Mr. Maucber said this 
ratio would decline because of 
the restructuring of operations 
after the purchase of Carnation. 

He said group sales in 1985 
would be about 41 billion or 42 
billion francs, slightly less than 
the 44 billion to 45 billion the 
company bad hoped for. 


the Bosch GmbH electronics jggj 33 
group, to buy a IB-percent stake in ' 
Grundig, which is controlled by 
Europe’s largest electronic group. b >’ 
Philips NV of the Netherlands, the I" 
company officials said during a 7^^® 
press conference in Hannover. million 


iue w)Ui*uiy vtou us-uftwa-a*. u uig nudnuiu ;hh - -- . . mranailV. 

Softstrip international Ltd! . ■ toberbv 10 billion -pesetas 1562; Japanese electron . 

Fletcher Challenge Ltd. of ^iew mUlion)'from 16 bfflion pesetas the Fanuc Ltd. 

Zealand said it saw no chance of previous year. • and Deutsche »anx , w 

bettering its 1984-85 net profit of. . IdanHsu Kosan Co^ Japan s sec- investment-tax crediL 

191 million dollars. ($112 million) ond-largest oil refiner and distnbu- German law. Swiss oan* 

and would be struggling to equal it., tor, recorded a net loss of 17.71 was jointly arranging to P . . 

The chairman, Ron Trotter* said billion yen ($86 milli on) in its first shares at 7,100 yen (S34.40J 

current exchange rates had made k half, ended Sept. 30, against a net' . jodustries PLC reported 

majority of export businesses “in- profit of 2J5 billion yen a year . oietax profit for the year end- 
adequatdy profitable." earlier. Fust-half sales rose to 1.23 . 30 r0 se 31-6 percent 10 

General Dynamics Corp. workers trillion yen from' 1-215 trillion- ‘ qn sgnuilidn from £36. 1 6 tmfliort 
ratified a three-year contract, end- Savin Corju an office-products " _j- pbumreiilical Ox 
ing a seven-week strike by. 5,000 cotnpaay. has b<^ charged by the Vamanwao r 
employees at the defense contra©- US. Securities and Exchange 63m- denied there had 

miccirm with tnnlntrna arMlintinD lniTOQUCinfi . 


« » . . . ■ 

denied there had b«n delays m 
tnimHucina its anti-ulcer .drug. 


The venture, which is expected to 

take several years to complete, is 
bemgreviewed by the Federal Car- 
tel Office for possible antitrust 
problems. 

The proposal calls for Grun dig's 
production of car radios to be 
transferred to Blaupunkt which is 
the market leader in car radios in 
West Germany. In turn, Blau- 
punkt's color-television production 
would be switched to Grundig, 
which is by far the top seller of 
color television and other home 
electronic products in Germany. 

Although production transfer is 
foreseen, product design and mar- 


Grundig, 50.4 percent of which is 
held by Philips, had a group loss of 
185 million DM in the last fiscal 
year ended March, down from 286 
million a year earlier- Gnnjdigs 

loss is expected 10 narrow again 
this year, to about 80 millioQ DM. 


tors plants in Ohio, Michigan and mission with violating accounting introducing us ~ .■ - 

Pennsylvania. The plane build bar- tmndpies in research and develop- Gasier, in Europe 


Pennsylvania. The plants build bat- principle; in research and develop- 
de tanks for the U.S. Army. . meat spending. The SEC- said that 
General EJectric Co. has resumed resulted in an understatement of 
taiw on a proposed nudear power' the company’s losses by S49 million 


station at Daya Bay, South China, 

diplomatic sources said. Represen- 


pnnapies in research ana aevetop- ^ — r c ■ hT „ 1 _ n 4 

meat spending. Thie SEC- said that' on the market m S 

resulted man understatement of month. Rumois or delays^, 
the companysIc«ses by S49 million cited as a factor in iMt&ivcsax\ 
betwee-i 1981 .and 19M. ; in the stare pnK rfGtaoHo^ 

Security Pacffie Corp. has pur- ings PLC, which produces Zantac; 


tatives of the French-owned com- chased Baurnctster Kreditbank another anti-ulcer drug. 


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SP17I7JM -(ml AmarVahiMCurnJ^rwf— — J Wfg ^t*I Oo/far Mjtfwrrtrenn-: 

3F10CJD0 -Id FldelHv Amrr. A M»ti_ * -jw) Bolter Lon g Ter m . ■ . ■ — 

SF 1440.00 -( d I FkNI *V Australia Fund I ll-H JCjnmnjYmj i- 

-td) Fldol ly Discovery Fund J lOJS -ini gwndSN rtwa , — 

. S 1S«A3 -( a ) Fldeflty Dir. SvBs.Tr—. * WM -<* Dout«jwMorlc 

. % 10.16 -Id! FWel ly Far East Fund S -twPdtai Florin 

□M 3ojj7 -( d I Fldol Iv Infl. Fund—— J 7-00 -let) 5wJ»a FrmJc 

t loS ■[ d i Fidelity Ortenl Pt^dZHII S XL34 ORANGE NASSAU OtOUN __ 

I * 10.98 -td ) FldHItv Frontler Fund i_ .UA7 PB >M7B. T* rt Hogue (OTOI AWOO 

Sins# -t d I Bev*r Betesalnsan+H L 


-|w) imerMultvN.AiTMr. Offer— S IOJO(-<d J | Fidelity PadfM Fund. 


New Issue 
November 14. 1985 


These bonds having been sold, this advertise- 
ment appears as a matter of record only. 


The 


Company 


Boston# Massachusetts, U.S.A. 


DM 80,000,000 


67b°/o Deutsche Mark Bonds of 1985/1992 


Deutsche Bank 

Aktiengesellschaft 



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. ..\n eluding: 


• The Economist 

• Euromoney 

• Business Week 

• Fortune 

• Time 

• Newsweek 

• Der Spiegel 

• Le Nouvei 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. 


■Co-sponsored by Business Week. The Economist. 
Euromoney. The financial Times, Institutional Investor 
International and The Wall Street Journal. Europe. 


BANOUE IN DO SUEZ 

-( d I Aston Growth Fund—. 

-(wl OfvartxvKl 

~(w] FIF-Amerlca 

-[wl FI F- Europe—. 

-< d > Fl F-Intomattonol — _ 

-(wj FIF-Pacjftc 

-(d) iRdomez Muttibonds A_ 
-£dJ IndaSUNlMuINbandSB- 
-( d > indonjez USD (MJM.F) . 


-tdi Pia«lltv Spd. Orawtti Fd.. — s i&56lRARanAs-GRm(F 


BRITANNULPOB STL SL HllMT. J8TWV 


. S IIA7 -Cdl FhWItv WOrtd Fund * 

SF BIOS FORBES FOM7 GRAND CAYAAAR 
. 1 17JB London Aeon) 01439-3013 

. 8 15.42 -iw) DaKor Ineonw I 

. S T0JA -<«|| FOrtws High Inc. Gilt Fd c 

. S 19S6 -Cv»J GoW Income % 

S *0832 -I w) Gold Anprodatlon $ 

. t 17120 AmlStromtncTroOUio S 

. S 1037X7 GSFIItOR FUNDS. 


-(wl Biitxtosiar Income 

-(w) Brits Manag-Curr 

-t d I Brit. irtflA MonasJiertf. 

-[(SI HTir. inttSManaa.Pont. 

:i*l MI'JS.Ik l pd Ud %“ n'iiS - EJiiHy 5“ " e 116X0 4-(wl RBC inTl Com ml Rt_ s 28X9 (d ; Lrtcom :FwMr.-:.r^i— f. SUSL33 

-(w) BrUJAanoo-Currencv £ I4J9; jwj GAMArbttrooe Inc. — J 137 J6 4 770? Ml 

■Id SrnwSw S5. FwfcZ * 7.741 GAMSMan mc__ZZlir I 707-57 SKANDItOMD HTTL FUND * mtMMM lm i Uiv- ■ 1 1S« 2 

-( d 1 Bril World I iw 3»i ^ ftJdS S 1A-72 -twllnc.: Bid 1 fc290fler % 4S9 0 Ntod tolanu«r.SwL-fit_^_L * 2U25 

CAPITAL if?™ JnS¥VonSl -IwIGAMfS^I, — SF 116^ «* ri . - Y 

-(w] Capitol Inn Fund 8 43X4 -I W I GAM Hang leans Inc S 99.51 *yHNSKA INTERNATIONAL LTD. Wj NAAT — -Tiu. - ^ .1 ■ 5 TLra 

■tw) Capitol ItoIIaSA * 1IL27 -l w ) GAM International Inc. S 1^ WCtowmNroSaXoodOfrOvaT/^MB tS Madm G rowWyQytoaAFd — IMW 

CITICORP INVESTMENT BANK [LnO -tw) GAM Jopon Inc — S 122X0 -I r I SHB Bond P«M_— — — J .25*7 wl 5 7T52- 

PO a 1373 Luxembourp Tel. 477.9577 -tw) GAM North Amortaa Inc t tTTJSB -iw) SHB I nfl Growth Fund— — _I 2t79 tmf NOSTBGPar fM l ir;’’- S «3tM 

(d) Cltinvest Ecu - ECU 1011.05 -(w) GAM N. America Unll Trust _ 110JOB SWISS BANK OORP. (ISSUE PRIOB* *1 NoytffdJmto Mii n N rt, * WS7 

(d ) Cthnwast Llauldltv S 10113)5 -Xw ) GAM PacHle Ine — - S 1KJ0 A d ) AmjrtaJ-Vator — — SF BJJO w ) A . I mat 

CREDIT SUISSE (ISSUE PRICES) -Iw GAM Pons. & Chor.Wurldw.. 10&5Q p -(d I D-Mark Band Setertton— DM 122JS PiyNS^ F^ U T .— - ■„ I.17U3 

■Id) Actions S«b»s SF 4S7J0 -twi GAM Pons. & Char. U.K. F4— 1040a I p -Id J Donor Band SMortJon l» d.) Fa ctBcH ortrontag.Fd- i'moi 

-Id I Bond Valor Swl SF 103JD -(w) GAMrbil S 11A92 4dl Flortn BandMactlon FL 12102 W> RWNCURRMnd£^ S 2U6 

(dl Bond Voter D-mark DM 705X4 -(wl GAM SlnoaDore/Malay Inc S ftS3 -(dl (nfervertor- SF BUS r t PwtimJ&K. ItQF O e nt M a— SF. 1397X0 

•(d) Bond Volor US-DOLLAR S 10034 -tw) GAM Steri S. Intt Unit Trusts TJl.U-ji -Cd ) Jmn FortMto— SF BTTJ5 r) Pa rrwal ynM l rK.W , »t37SJ7 

-< d ) Bond Votor Yen Y«n 10067.0a -tw) GAM Worldwide Inc — 1 IS451 -(d) SterRna Bond Selection i 10&25 I r) PWodps- - - 1 S 1127.10 


|-<w) East Investment Fund 


37X2 -cd ) Cortots International 

. -(d) ECUPAR — 

' .(Wl OBL1-OM 

7X6 Aw) OBLIGESTION 

94.40 -|wj 0BLW5OLLAR 

&2B -I w) OBLI-YEN 

450 -iw) OB LI -GULDEN 

1J0 -id) PAROIL-FUND 

-Id) P A RE U ROPE GROWTH. 


i nxi w) Thle S u& utf inwnr Tnm s. T23 

S 10292 dj Europe OfiUWBWana — — — E PT«iS2! 

S 98JW N FWfMW.fa t - - 

- -r - Ft FWtV 5Wn £W j . - 5 

< assaga^^:«i JS 

ZIS' M fwt Fw^ta’se lection F d.^. ~ 3F «X6 

t -.HO* dl Fmatona — 5 

-DM 10.77, d ) Govemm. sec. Fund*— * 90X9 

_FL 10X0 1 d 5 FranW-Tru«lirtor*wfc»— DM «U5 

_SF IAIH (wj Hoummann NM» N.V J imffi 

“ •• • (wt Hutla Fundi— 

) • (w) Worlion Fund — * 133030 

_ S . &X0 tin) IBEX HaMlnas Lid SF . T15J5 

r) ILA-1GB — *. 9« 

__ S 9X99 r I, ILA-IGS \ I&S4 

ecu 502X91 id > Tntartpnd SA — S UX6 

DM1232A3 w> intermarkrt Fund — — ■ ■■« * 268X7 
-SF. 95X0 d j larerm tains MuL Fd. Ci.-B*_ J mlh 
_ % Ti23js r) IrtTI Secmltles Fund— ' S XU3 

Y103BSU0Q <d l.LnveHa D OT ..... l. DM 59 x 3 

FL1Q57J9 (V) Invest AHanHaoM S. 9X7 





- ._ S 1X0 -id) PAROIL-F UNO ■ ■ S 9U4 ( r » ItaMorfune IM3 Fund SA s 

-Id) PAREU ROPE GROWTH S 11 J* (wrl Japan Setortton Fond — S 

S 399.73 -(dIPARINTERFUND S 1363 (wj -Jopon PadWcFUMSgaiT-.i.-. ,S 

c 129X2 -Id) PARI NTER BOND FUND— . S10X1 (mj Jotter Ptn»- tntL Ud—»_ 11 

. S 16933 -Id) PAR US Trees. Band *0. B‘_ S 115.38 (di KtetowortBtasonlnH : 3 


0X95- -<w) Scottish World Fund — ( 12U 

10 x 2 -Iw) 5 talc St. American - % 169: 

1.152 London :Bl-49l 4230. Genova :41-2M55530 
TlfX GLOBAL ASSET MAWAOCMCWT C ORP . 
1.129 PB 179, St Peter PorL Guernsey. 0401-28715 


CAPITAL INTERNATIONAL -t wl GAM Fron&VOl SF 11633 •( WtACC.: H«d — — .1 ■ XJI Utter— — ■ 

-(wl Capitol Inn Fund— 3 43X4 -( W I GAM Hang leans Inc. * 99.52 SyiEMSKA INTERNATIONAL. LTD. 

■tw) capital Italia SA I 18X7 -( w ) GAM I nt ernat io nal Inc. S 137X2 17 DevoraMra Sa-LondoivOV377X04B • 

CITICORP INVESTMENT BANK (LmO -tw) GAM Jopon Inc — S 122x0 -( r 1 WB Bond PwW__ 

POB 1373 LirxMntiouro Tel.477.9SJl -tw! GAM North America Inc t tTZOB -<w) SHB Infl Growth Fund 

(d ) CIHitve*} Ecu — ECU 1011X5 -1 w) GAM N. America Unll Trust _ 710X0P SWISS BANK CORP. (IS5UB PRICES) 


0X62* -tw) FuturGAM SXL 

IL7V- -tw] GAM Arbitrate Inc — - 

1.142 -Iwl GAMenca Inc 

S-210 -<w) GAM Australia lnc. 

1.741 -twtGAMfioriontnc— — 
0733 -4w) GAM Ermltaae— 

-( wl GAM Fronc-vtd 
43X4 -( w I GAM Hong Kano lnc.— 
18X7 -( w ) GAM I nt ernat io nal Inc- 


-t d ) PAR US Treos. Band *0. IV- *115.1* (d) Ktebw 
ROYAL B. CANADA^OB MiOUCRIHEY Cw KMm 
4l») RBC Ctmodton Fund L».- J 11X4* (w) Korea 
-Mw) RBC Far Eattutadflc Fd_ S i«7 


S 116X0 |*Hwl RBC InTl CaMtal Fd— 
S 137X6 l-Hwl RBC Inti Income Fd.. 


S M9J5|-«d) RBC MonJCurnsacv I 
.S 97.1S IrHw) RBCNartti Amor. Fc 


_ * DUS 

— S 131.14 
U ■% 1159* 
_ :0 10423X5 

— :S 22X0 

S 06X4 

.KW 6*72X9 

— ■ s Km 

_ S 1381X3 

— S 10431 

— • 0 1359X0 
_» 70.10 

— S UU2 

— .5 2025 
Y 106X14X0 

S 7LS3 


-(d) Bond Votor Yen Yen 700*7X0 -(w) GAM Worldwide lnc — 1184X1 

-( d) Convert Valor Swf- - SF 12025 -(w) GAM Tvehe SJL Class A S 122.16 

-(d) Convert Volar US-DOLLAR. S 12178 G.T. MANAGEMENT (UK) LM. 

-(d) Canasec SF 682X0 -td) Berrv Poc. Fd. Ltd S IMS 

-id i CS Fonds-Bonas. — SF 79X0 -tr) G.T. Applied Science S 13J7 

-(d) CS Fonda-lnH SF 121X0 -t d ) G.T. Asean H.K. GwttLFd — . S 73X5 

-( d I CS Money Merkel Fund— S 1100X0 -id)GT. Asia Fund— S 4X1* 

-(d)CS Money Market Fund— DM 1060X0 -tdl G-T. AUsjrallo Fund — I 36X6 

-( d ) CS Money Market Fund E1042X0 -td)G.T. Europe Fund s 1319. 


1 144X1 l-(d) Sterttns Bond Seiedloa. 


S 122.16 ^d )SW(w Faction Band Set SF 17055 iwFRSCDFuattM 

•(d) Swtuvalor New Series SF 37425 [ wl PSCO FnlL N.' 

t 11X5 -id) Universal Band SMecL SF 1075 ( d r PUtatsd ipO 

S 1377 -( d ) Universal Fund SF 121X9 ( Kl PrFTect_£i_ 

S 73X5 - dl Yen Band Setactton 78378X0 (wj Quantum Furid 

4X1* UNION BANK OP SWITZERLAND (diHeeTtarFunf^; 

S 26X6 HdlAmcaUX-Sh. — SF 3CSJO (dTRentlnvest^Zi; 


H d ) EaarBle-Volor SF 147JS -tw) G.T-Eura Small Cos. Fund S 15X4 

(diussec SF 825X0 -fr)G.T. Dollar Fund 

-td) Podflc -Volor SF 159X0 -(d) GT-Gtobal Tedmlgy Fd s 12X4 -(d) Shno (stock price) SF. 23600. (#)XevWi ArrotoB.%iotfNar^_L s.t22JJ 

DREXEL BURNHAM LAMBERT INC -( d ) GT. Honshu Pathfinder S 38X2 UNION INVESTMENT Frankfort (W) State SL Banfc^aetfV HdssNV^_5TX7 

WtocheUer House, 77 London Wall -(d) G.T. Investment Fund — . S 20X1 -(d) Unkanto— DM 44X8 tWl Sh-ateuV Imnrtpwrtfundi^- X 2L5I 

LONDON EC2 (0) 9J09797) -( w ) GuT. Japan SmolJ CAFund _ S 45 l 5» •( d ) UnUonds— DM XUV fdrXVmtlW LJdL’toS^ w— « ' * ‘- Tl^ 

-iw) FlnstHiry Group LM s 127X3 -t rl G.T.Tedmoiogv Fund S 2370 -fd) Unlrak DM, 44.11 <w>TectmaGrawthFup«LU_- SF . 6698 

-(m) Winchester DlvcrslHod S 19X3* -t d ) GT. South China Fund * 15X0 -(d) UNIZ1NS — DM 11875 ( tf.) Jhornlon AuihWto*MUdJ_ -S • 9X2 

-(ml wmchesktr Financial Ltd. S 699 HILL SAMUEL INVEST. MOMT. INTL. SJL. Otlwr Cunric ... idJTharnlod HK 6 S 16IT 

-tm) Wlncheelw Frontier s 10220 Jenay.PD. Bo* A Tel 0534 76029 . L/lIKtr rUIIHS (dl71ibaUiiRJapwij^ndLU_. S 12X7 

-(w) Winchester Hekthna FF 106X9 Berne, P.0. BoxM22.Tel 4131 224051 - jw) AcHbondB tave M wient * Fund. ' S 34X1 (d)t»eNntonOt1er»Onc;F<ILM-^ i % 

- S 12X9 - d ) CronJww (For East) : SF >049 fw» Acftveefinfl . S 11M (wj‘7dfcVaJtac.Ha«.XS4aJ__ J ?C7Jf 

-Cw) Worldwide Securities s 49X4 -(d) CSF (Balanced) SF . 26X0 (ml Allied LM s 475 (w^liokV»PocJNoid>JCV_^__^ S 14X58 

-(W) Worldwide Special S 174757 -(d) European Eaultv Fund DM1174 (w) Aautki International Fund « iT4» fejT.w w «i y p wi— e eeiM 

DIT INVESTMENT FFM -(dl IntnL Bond Fund S 10X4 t r ) An* Finance U= « ■ fi 

-+-( a I Concenh-a — DM 34X7 d ) inL Currency UX. S 3680 frlArlane S18HL26 td>TufooQtae,Fund_L_ . 1 in 35 

-+( d) infl Renienfand DM 9111 -(d) ITF Fd (Tedmotaov) S MX1 (w) Truatcor inrtFd. (AEiH^.. .s^-inxi (wj T^XWimiurDnA- SVMM 

Dana C Haraitf t Uoird George. Breasefs -(d) O^Seas Fd (N. AMERICA) — S 29X7 twf BoraNete-(g«UrPr._^-_ SF UTjf CW| Twee rf y^nwme n.vX3omfl^. S 1576X6 

-Cm) D6H Commodity Pool — *342X4— JAR DINE FLEMING, POB 7> GAO He Kg On) Canada Ol d M ort ga ge Fd * 9X6 rm) TWedvJTrowne (UK_tA» s 1079X4 

-(ml Currency & Gold Pool S 757X1 — - r ) J.F Cumncv4>Band S 13X7 (d » Capital Preserv.Fd. I nM. S 11X8 Cd ) umcO Fund^--- DM 79X8 

•tm> winch. Lift Fut. Pool >55974— - r I JJ= Hong Kang Trust • 3834 tw) CHadel Fu nd—- 8 :m (dj UNlEandFundX^_L__„_ 5117199 

■lm> Trans World Fut. Pool S8I4X1 «** -( r i J.F Padtlc income Tra«t— < Y 25X8 lfn) Ciewfamj offSTare Fd___ 52181X8 CrjUNlCaprtoKFund—^ : S 7199.9* 


13X9 |-[d ) Band-lrvest. 


_ % 13270 
_ S 105X6 
_ S 7X16 

- * 850X6 

- 1526477 
LF2B15JO 
LF 1848X8 


I -(d) Farao Swtn Sh_. 

-i d j Jaaan-invest 

-t d l Sotlt StwHiAfC. Sh.. 
•(d) Shna (stack prfco). 


SF 6TTll(ilT neiem Itimmif Deimffli S-1IUXS- 
SF -m«iel) T m>M«y7Bew>»A^PAetw. .eweene 

run rwiinn..ni*wiMkC>.'<.'? -v. ,v utk 


SF, PW SF -M7^ 


LONDON EC3 (01 9209797) 


-(m) Winchester Diversified—- 
-(ml Winchester Financial Ltd. 

-tm) Winchester Frontier 

-Iwl Winchester Hold Inns 


iRt 1 GlT. Jnxn SfTKttJ Co-Fund 

-iw) Finsbury Group Ltd. s I27J3 J-l r) G.T. Technology Fund 

-(m) Winchester Diversified-^— S 19X3* |-(d ) G-T. South China Fund 


S 11 M t wittQKm 
% 475 (winWtVW 

S 174X0 (Wl TraON 
S 928X7 (wVTnms. 
S 188026 Cdl Turow 
1 1-10*2; (w) Tweed 


3 ac.Ho*L(S4aJ_^_J 107X9 
tacJHokLJfcV—, . - S 142X8 
ncWCFunrt -;-^.. * 9886 

SSK. newt--' ■ • Fl 

Im.AwI ’ S 11775 

r^dwooiwgaeak— J7M648 
-^msme avX)assB_ S 1574X4 
’.Browne (UXXa.v — s 1019X4 


•tm) winch. Ufa Fut. Pool. 


•tm) Trans wand Fut. Pool s 

EBC TRUST CO.tJSRSEY) LTD. 
1-3 Seale SLXt. Heller .-0534(16331 


**H r) J.F Padtlc Income Trust— Y 25X8 


TRADED CURRENCY FUND. 

@(d)lnc: BW_s 1 (wouer si Q.B04* 

0(d)Caa.:BM _S 11 J7 Otter SIZM9 

INTERNATIONAL INCOME FUND 
-(d) Short Term 'A' (Accum) — s 1X059 


(in Cleveland Offshore 
I wl CotumMa SecurttNi 


i-j r ) J.F Japan Trust- - Y 4639 iw> CotamMa Securttfes FL WU6 (d) USF4C 

-(r> XF Japan Techaoiogv^— Y 18X10 ( r j COMBTF... 86636 (d-j-USTro 

-lr)JJF Pacific SecX.(Acc>^_ * .7X4 (w) Convert l=d- Inti A r IT JO (wjvcmdsr 

LLOYDS BANK INTL. POE <38 Eene va .1I Iw) Convert. Fd. Inti B Cert»_ * 31X7 td) Worktl 
-«*' I town, inrt rvUL,^ • lie Wt rw— i^, c— < Y-.10J87 - 

-Mwl Uayas Inti Europe — — SF 12838 (w)DX>.C ■ * 9S34 - ‘ 

-t-(w) Llavds l nrt Growth SF 171X0 -(d) DoDar-Baer band Fd — *7038.00 . 


S. 868364 (d-j- US Treasury Income fund S . l 


iTJXOHd) DoDar-Baer band Fd. 


-(d) Short Term 'A' (Accum) — s 1X059 -^(w) Llovds inn Growth SF 171X0 -(d) Dollar -Boer band Fn ; s 7038.00 

•(d) Short Term 'A' (Dish-) __ 1 1X041 -i-(w) Dorn Inti Income SF 317X# -(d) D-mork-Boer Bond Fd DM) oxioo 

•Id ) Short Term 'B' (Accum) _ s 77425 -«wj LJoYtN mn hL America— 3 105X5 (d) D. Witter Vrtd lNkle lvtT»._. * 1278. 


-( d ) Short Term "B* I DHtr) 
-(w) Lang Term— 


8 0X549 l-+(w) (Joints Inti Padtlc- SF 132X0 ( r ) Drakkar mvesLFund N-V«_ *1197X01 

s 25X61 1(d) Dreyfus Amerten Fund—— s Non I 


DM - Deutsche Mark; BF - Bewlum Francs; FL- Dutch Flortn; LF- Uptrnnboura.Frona; ECU • European Currency Onff; 5F- 
F/VS10taSl**r units NA.-N 0 I AiralloOlc; NXL- NotCommunlcatedta- New; S-»uspended;S/S -Stock Spill; *-Ex-OI'ddond; ** 
Redempt- Price- Ex-Coupon.- —- Formerly Worldwide Fund Lid) -Offer Price tocL 3% preltm. charge) ++- dotty stock prto 


rrency Wtff; SF- Swiss Froags a- asked; -f -XWNr Frtcmsb - Wdchame 

- Ex-Olvidond; - - Ek-Rt»; — -Gno» Perlormaoce Index September; •- 

- dotty stack price as on Amsterdam Stack Ekchonge • - 


CHAUFFEUR 

SERVICES 


INTERNATIONAL CLASSIFIED pAirira conversion 


CHAUnEUK. SEBCS pouhon wdhoul 
lodgmgv Can froW. (5 vaartexpen- 
ancB-Pors 45 04 06 38 office hours. 


(Continued From Back Page)' 


’ . v* "• 


AUTO SHIPPING 


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TRANSCAR 


THE CA* SWP91NG 
sreOAUSTS 


TRASCO 


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LRD. M to cIb Tax Free 
UmowinM 36" 9, W 
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Coach (wiit can 
Other nudes & aratics 


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Keeping a constant dock af more lhao 
300 brand new cart of otEnropeor + 
Japcnese : fnataa amp/Mf - priced. 


b»a./, dot; . . 

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’ Gntam» broiarage/boncSng wrwar 
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e .SUaCONVBET * 

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nirxifiwei oar Me Me UXJL 
- Woridwide American imurer 
- ItoWM-OI. taquirad wunra 
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pcetaB US. gomrament ftandartb 
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. .GBtMANYB} 6^-7152425 or 
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Ctoefadou 74-70 
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Tefc London 
Tetex (51) 8 


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Trasco London lj& 

65X7 Fade lane, London W.l. 


5witmH(sid4JK-W. Germany 


ESCORTS & GUIDES ESCORTS & GUIDES 


INTERNATIONAL 


LONDON 


ESCORT 

SERVICE 

USA A WORLDWIDE 

Head office in New Tort 
330 W. 56* St, N.Y.C 10019 USA 

212-765-7896 

212-765-7754 


P ortn w i Escort Agency 

67 CUtam Sheet. 
Undot WT 

Tefc 486 3724 or 486 1 1BS 
AH major credit coda a cce pt ed 


* LONDON * 


MAJOR OBEDfT CAKOS AND 
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Wro te Memhe'ililpi AvoBofah 


EXECUTIVE BCOKT SBIVKX 
402 7600 or 499 233 S 


ARfSTOCATS 



* USA & TRANSWORLD 


A-AMBUCAN 


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T-8T3-921-7946 

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towel E o d em w e lcomes you bodd 


ESCORT SSMCE M MW YORK 
TR; 212-737 3291. 


* LONDON CHBSEA * 

ESCORT SERVICE. 

51 Beouiaiip Flsat. SWT. 

Tet 01 SB* 651 57767 (4.12 pm) 


LONDON 



MAYFARCLUB 

OHDE SERVICE from Sim 
ROTTB tDAM (0) 10354155 
THE HAOUE (0) 7060 79 95 


LONDON 

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Tflfc 736 5377. 



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* JASMINE * 


AMSTBBBAM ESCORT SERVKX.: 

mo-OMAHs 




























VtM'l I 


IF YOU KNEW THAT REPUBLIC HAS BEEN CALLED “POSSIBLY THE SAFEST BANK IN THE UNITED STATES 


YOU’D BE PHONING THEM TOO 


Republic National Bank of New York.Traditional banking 

NEW YORK (1-2 1 2 >-930-6000 ■ LONDON (+4- 1 >-409-2426 • PARIS (33-! >-260-386*4 • LUXEMBOURG (352)-470-7 1 1 • MILAN (39C 


in an age of change. 

J-809HI • A SAFRA BANK WITH CAPITAL OF OVER. SIJOQ.CW.OOO 


INTERNATIONAL HERALD TRIBUNE. THURSDAY, NOVEMBER 14, 1985 


Page 13 







Vtige 14 


INTERNATIONAL HERALD 


Wednesdays 



Qosine: 


Tables Include the nationwide prices 
up to the doting on Wad Street 
and do noi reflect late trades elsewhere. 

/ ’in 77ir itited Press 


12 Month 
HighLcn Six, 


Din. YU PE 


Sis. Close 

100s Hlflfi Lott Dual Ol’TO 


6% 

IB 

14% 

5»f 

4 

88% 

a 

ns, 

18ft 

fi 


3% ADI n 
Sft AL Lob s 
B ABACS 
?H AM inll 
3% AO! n 

68% ATT fa SSJe 46 
2va AcmcPr 
*'■« AcmoU 
9ft Action 
1% Aclon 
Actnwl 
1% AflrYtRl 


.14 


J2 


63 
IjD 18 
IB 
11 


11 39 
14 


ISO 5ft 

44 15* 


s s ■*■ 

.. .... 151'. 15%-% 

10 10% 10% 10% - % 

5 JH 5 

— 4 37* 3ft- % 

J1 86% B6’/. 86-.— % 


1*95 

340 


m r-i 1% + ' ■» 

131 1p , 'i 10 10". + u. 

126 HU. 10?e 10% + H 

40 1% 1% v»— % 

40 % H % 

94 3ft 2ft 2% 


30’- 

23’u AdRusi 

.11 


18 

34 

27% 

TTm 

27ft — 

0 

3% Arranc 




1® 

4 

4 


51ft 

29V, AniFbt 

SO 

ij 

21 

74 

50% 



If 41 





47 

bft 

4*5 

411- 

1? 




10 

499 

8% 

Bft 

Sft- 

13ft 

9ft ArCdlpf 

I JO 

10J 


8) 

lift 

II Vj 

11 vs- 

3-* 





41 

V* 








® 106% 105V 105ft —1 






17 

4 

6 

A 






44 

*'« 



14', 





04 

Sft 

n% 

Bft — 






147 

ft 

% 

ft 




11J 


1001 aft 

aft 

aft 






J77 

79ft 

2Bft 


4 


an 

3J 

a 

3fl 

2ft 

2% 


18". 

lOVf Amdahl 

JO 

IX 

14 

1239 

llw 

10ft 







744 

6 

5*1 



4'.. AmBIII 


I 4 

S 

J5 









30 



7 + 

53 


1H0O 18 

14 

n 


53ft 

S5 +2 

43 ft 

20ft AE,pnl 




727 


40ft 



p.„ vid PE 


CMl CO 
CMXCO 


M 1 25 ID'i 10% 10% 























rpri.'B iiwi 






U 1 






fi'PH 


■ iii 









p^i-1 
























l’* 

15% 

0% 

10% 

Pk 

12 

51* 

V. 

9% 


.10 


JO 


H'j 
5* s 
41. 
frl’-J 

1ft 

IS*. 

«i: 

14% 

6 

54% 

48% 

71V 

3V: 

6% 

s% 

10 

2% 

ift 

7* 

11% 

10ft 

70% 

*ft 

13% 

3 

17ft 

lft 

4'/. 

5ft 

12ft 

19ft 


4ft A Five A 
Aft AFruc B 

3ft A HU KM 

4ft tisroel 
lift AM»A 
17' 1 AMieB 
ft am Bio 
2 AmOil 
47ft A Pelf 
ft A/nPInv 
72ft APrec 
Aft AmPllv 
lift ARovln 
J ASciE 
49ft A non jn 
44 A nan pr 

4k, 

1ft 
4ft 
lft 
5ft 
ft 
3ft 
S ft 
3ft 
4ft 

71* 

14ft 

6ft 
9ft 
I 

7 V , 


■SZ 17 44 
S3 3.7 67 

21 

2J» 4 2 IS 

J4D 1.7 20 
4 

li4*10J 


45001 4 ft 
238 Sft 
2 4ft 
8 U 
4 U 
132 4ft 

27 4 '. 

14 40ft 

% 


4ft 4ft — % 
4ft 5 + ft 

4ft 4% + ft 
I3ft 1316 — ft 
13ft 14 -I- ’. 

4ft 4ft + ft 
4ft 4ft 

477.6 48ft + ft 
ft ft 


*oe fJ 
.We i.9 


19 


J» 17 9 
75 


A ionic 
Am pal 
Andal 
AndJcb 
Angles 
wlAnnl v 
AraoPI 
Arie» 

Armlrn 
Armei s 
ArrowA 
Arunfll 
Asmrg 
Astra* 

Aslrolc 

Aslral PI I.BC 136 


JO 2J 
JO 


8 
1 

13 
21 S« 
17 


AllsCM 
Oft Allas wt 
2 Aud.otr 
12 Auslmtn 
13"» Avondl 60 4/ 15 


58 

14V. 

14 

14% — % 

21 

Bft 

a 

8% + % 

536 

15 

14ft 

15 + ft 

4 

4'« 

4 ft 

4ft — % 

2 

54ft 

54% 

54% + % 

4 

48 

47ft 

47ft— % 

55 

bft 

4ft 

4ft 

284 

71, 

2ft 

2ft— ft 


5 

4 

4 

24 

2ft 

2ft 

2». + % 

IQ 

4ft 

4% 

4% 

115 

I'm 

1ft 

1ft + ft 

H 

3ft 

3ft 

Jft 

33 

4 

5% 

Sft— ft 

154 

4ft 

4 

4ft + ft 

70 

4ft 

4 1 -, 

4ft -t- ft 

a 

9 

Sft 

Bft 



17ft 

17ft— % 

141 


9% 

9% 

39 

13% 

12ft 

13ft + ft 

513 

lft 

1% 

lft — ft 



13ft 

13% + >4 

183 


s 

% + % 


. 3 - 

17 2ft 
47 12ft 
27 17ft 


3 ft 3ft 
lft 2ft + ft 
12ft 12ft + ft 
17ft 17ft— ft 


B 


A 

25ft 

3ft 

3ft 

15ft 

17% 

10 '.. 

27ft 

r? 


3ft BAT In 

13ft BDMs 

lft BPT 
3 BSD n 
9% BSH 
Bft Baler 
Oft BaldwS 

22ft BonFd 
4'* Burnt rp 
4ft BnkBId 


J2a JJ 

2J8eiai 


4ft 4". + .ft 

24ft 25 + ft 

, _ 3ft 2% 

. 3 3 J 

13 12ft 12ft 12ft — V. 
4 13ft 13ft 13ft — ft 
3 eft 9ft 9ft— ft 

27ft 27% + ft 

Aft 7ft +1% 
Bft 
3ft 3ft 


5284 4ft 

5*8 25ft 

XI 2% 


25 27ft 
IDO 7ft 


15% B'i 
1516 Oft 
Oft 4^| 

8ft Aft 
48ft 30 
5ft 2ft 
22Vi 14ft 

J2ft 23ft 

2ft ft . 

7ft 2 Coil Ind 

9ft 4ft Cenlcni 

31 30ft CenM n* 3J0 12.1 
14% 1 Oft CenlSe l.57cizJ 
9ft 5% 

4 lft 

16ft 121: 

29ft 14% 

29 17ft 
21 ft lift 
l*ft Aft 
38ft 1712 
33ft 13ft 
35 l®% 

43 35ft 
12ft 4ft 
45 24ft 
6ft 3ft 
10ft 6ft 
5ft 1ft 
24 9ft 
lift eft 
U% Aft 
13ft 4% 

!0ft 5% 

20ft 14% 
lift Aft 
1 7 '!• 6% 

15% 11' J 
9ft 5ft 
S'. A lft 
10 4ft 
14% 

Oft 
7ft 
«ft 
17ft 
10ft 
17ft 


16 
.7 17 
16 
IS 


CareB 

CaroA 
CareE B 
CoreE a 

CoroPotSJW 110 
Casbian 64(76.4 
CosllA 600 11 11 
CasFd 2J0o 12 
CasFdrf 


13% 

15ft 

20 

26% 

14ft 

19ft 

lft 

1 

10 

12ft 

35 

17ft 

13ft 

TOft 

219 

4% 

25 

31ft 

3 


Co lee 
ChmpH 
CtunpP 
ChIMAi 
CHIMB s 

Chi Rv 
CM Dug 
Qillhn 
Citadel 
CilFsi 
Clarmi 
ClarkC 
Clarul 
Cognirr 

Calm 
ColFwis 
Com led 
Camlnc 
CoripD 
CmpCn 
CmnFCT 
Cndim 
Coned F 
ConnlY 
ConrCo 
Conast 
Cana wi 
ConsOG 
CnStorn 
CnSIr wl 
i/iConlA 
wiOltA pf 
CaniMtl 

CamrUn 160 116 
Coolevn JSe 16 


30 16 
30 
4J li 
6 IS 
3 16 


39 15% 
35 16"* 
4 19% 
SO 44ft 
77 10% 
37 2% 
4 13ft 
25 14% 
6 4% 

3 6% 

110: 44ft 
5V 2ft 
2 15% 
17 27 
39 lft 
If 3 
J 9ft 
3ft 3? 
22 12ft 


6% 

2'A 


120a SO 12 
.17 6 19 

5 

1-OOb 11 9 

1.936 4.4 
Jfl* 2.9 10 
65o 2J 9 

JO 12 9 


.li 


15 

.40 13 14 
243 
9 
7 

108 


7ft CasCrn 


1'* I 

15ft 151s— ft 
9 8% 

IMe 10ft + % 
Sft 5 7 i 
lift 12 + H 

% ‘V 

9% 9% * 'A 
15ft 1 5ft- % 
1 AM lift — ft 
19 1919 + H 

44ft 44 -hi ft 
10% 10% 

2 2 4 -% 

13ft 13ft— % 
Id 14% + >/. 
4ft 6% 

4% it— ft 
45 IA 45V. — ft 
2% 2%— ft 

15ft 15ft 
26% 26ft + ft 
1 % 1 % 

2 ft 2 ft - % 

« 9 — ft 

29 29 

17ft 13 ft 
Aft 6ft 
2 2 %-ft 

14% 16%— ft 
19ft 19 % + ft 
21% 21 %— Vi 
19ft 19% — % 
9 ft 9 ft — ft 

33 33ft + % 
79 29 — % 

33ft 32ft- % 
43 43% + % 

9 % 9 % + % 
37ft 37%—% 
4% 4ft + ft 
Bft 9 + % 

4ft 4ft 
22% 22% — ft 
Bft Bft — ft 
12 12 
6ft 6ft 
7ft 7% + % 
18% 18%— % 
7ft 7 ft 
I7VS 17% + ft 
17ft 18ft +1 
8% 8% 

4% 4ft + % 
5% S% — ft 

75ft 25ft — ft 

6 13% 1J 13% + v* 
81 13ft 13% 13ft — % 
30 16% 16% 14% 

34 24% 24% 24% — ft 
77 11% 11% 11% + ft 
70 19% 18% 18ft— ft 
23 2% 2ft 2ft- % 

% + % 


10% + ft 


39 17 
1320 19% 

3 21% 
9 19% 

4 9% 
21 33% 
12 29% 

135 33% 


<3% 

9% 

37% 

4% 

9% 

4ft 


14 22ft 
143 B% 
14 12 
112 4% 

49 7% 


0*11. * ia pe '3i* "-y -- 


12 % 

22 >; 

17S. 

4*l» 

19 

10 % 

5% 

lift 

13% 

15% 

13 

10% 

43ft 

30% 

14% 

10 

9% 

12 % 

7 

7% 

26 

10ft 

12 % 

74 

23ft 

14% 

IS 


15% 
3ft 
I 'A 
II 
?% 
lift 
4ft 
*ft 
38% 
21 
7% 
7 

S’.'B 

12ft 

ft 

4ft 

14 

7% 

5 

14% 

10 % 

4ft 

Aft 


FPA 
Fablnd 
FairFin 
FoirmC 
Fan * pi 

Fldata 

FCWHd 

FNvtnB 

Fstercs 

FiiehP 

FilcGE 

viFumig 

FioRck 

Fluke 

Fooarm 

Faalev. 

FlhlllG 

Fares lt_ 

FoiwW 

FrdHlv 

FrwEl 

Frleflm 

FriesE n 

Frischs 

FrnlHd 

FrtA wi 
FurVIt 


.40 2.0 7 
37 

47: 26 
60 *7 11 

7 

681 S.0 2! 
5 

.70 1.7 8 
!J8t 56 13 
5 


14 

285 13 13 

ID 

J2b .9 2S 
9 

.171 1J 
JO U 27 


18 HU 
£ »'c 
>44 16 
5 Hi 
29 lo'a 
31! 

39£ f; 

7 IS 
Oil 11% 
20 13"r 
39 13"* 
7 1% 

35 41 
*4 24% 
11 12% 

3 7 

73 5% 

205 27ft 
13* lft 
5 5% 

2* 71 

4 Oft 
785 10% 

20 24 
17 23ft 
IS 14% 
71 14% 


10 
20M 
1T% 
1% 
I O' ■ 
Aft 
4% 

17 

11"-. 

12 % 

12"l 

S% 

40ft 

74ft 

12ft 

7 

5% 
27% 
lVk 
5% 
21 ’» 
3V: 
10 

23ft 

23ft 

14ft 

im 


IS } 

2 V it 
17Sn 

1% * ft 
14ft * •. 
lft + ft 

4Te 4- ft 
12 - ft 
11% % 
13ft— ft 

lift — % 
5% +■ ft 

40% — % 
24% + ft 
12% 

7 

5% — ft 
2."% + 'i 
1% 

5% 

21 % 

3ft 

10 '. + '« 

24 + % 

23*— % 
14ft 

14% — % 


ZJ 


7ft 

18 


104 IB 1 A 
415 Bft 


4% 

Sft 


% CosCrwt 




111 

% 

ft 

9% CnlrMn 




3* 

9% 

9% 

7ft CrslFo 

.lSe 

IJ 

9 

10 

10ft 

10 

25% Cross 

164 

4.1 

>4 

M 

34ft 

34ft 

9V< CrnCP 



9 

77 

17 

14% 

7% CrCPB 



6 

2 

12% 

12% 

17ft CwCPef 

1.02 

8J 


13 

a% 

27% 

'« CrutcR 



1 

07 

n 

2* 

ft CrystO 




1343 

% 


>3ft Cubic 

J9 

IX 

11 

*3 

an 

a 

23ft Curtice 

.92 

3.7 

9 

14 

25ft 

24% 

% CustEn 




14 

% 

% 


22*-% 


9 + ft 

3%— % 






15 

1: 

3 

2% 

3 + % 






127 

S*h 

5% 







13 

9% 

0% 




1X0 

140 


2 

lift 


"Sr - vi 





2 

64 






32 

1.1 

14 

555 

30% 


2*ft— ft 

40ft 


72 

IX 

74 

■IJ 


39% 




60 

26 

14 

■rl 

iftU 


15% + % 



1X0 

38 

n 

9 

74ft 

26% 



Tm 



14 

0 

14 

15% 




A0 

1.7 

11 

B 

34% 

35-;* 

36% + % 

1ft 

% StoCkE 




731 

^ 2 


-* 



45 


15 

24 

14% 





60 

2.9 

u 

4 

1.1ft 

13ft 






23 

302 

lift 

lift 

li'/. — % 



20 



33 

11% 






4J 

10 

7 

10ft 







14 

277 

ift 

4% 

4% +• % 




24 

15 

214 

ID 

17V* 

18 + ft 



1 A0 



79 

aft 

75 

a 


247. BmFA 

100 

3.7 

10 

35 

37ft 

36% 

aft -t- ft 



1J» 

24 

11 

74 

dl 


4fl ? : + % 



60 10.0 


15 

4V, 








19 

3% 

3 

3% 


3ft BuckhPf 

SO 10J 


27 

4ft 

4% 

4ft + ft 

34% 

24ft Buell 

SO 

20 

4 

4 


30% 

30% 

13'. 

6'-j Bushn 




12 

7% 

7% 

7% + % 

c 1 


Oft CDI 



8 

4 

a 

a 

M — % 


1 





D 




1 







73 

Ift 

1% 

l% — % 







4 

5ft 





20a ax 


1*5 

1% 

8% 





2J0 31 J 


142 

■Hi 







3 




3ft 





13 S 


6 

■MSI 




rr-*- w **r*i 

175 



li 

22% 





.14 

U 


3*5 

14ft 

13% 



■ftp 




4 

sa 

7% 

6'ie 

7% +1% 






IB 

9 

3% 

3 




174 

10.9 

9 

14 

16 















331 

5X 

n 

a 

4 







13 








380 

5 







1® 

)2X 


19 

9% 







so 

45 








43 


6 

6 







15 

63 










10 



1 ’/A 



bilird 

® 

J 

17 

liS 



69% —1ft 









Wi 






11 

54 

5V» 

4% 

4%— ,v« 

J S? 

'i 

Do meP 




7892 

528 

2% 

ft 

2V* 

+ 

16% 

17_ Domlr s 

11 



73 

17 

13% 

% 

'X 

% + N 




SO 


25 

33 

a 





64 

25 

11 

12 

up* 






60b 29 

15 

a 


13ft 




J7o 21 

10 

292 

13*1 

13 


29ft 

IB'k Draeer 

M 

29 

12 

3 









48 

40 

68 

8% 

Bft 

8% 



EECO 

33 

20 

77 

8 

15% 

15% 

15% — % 


JL'.'Z 

ERC 



14 

150 

7% 

7ft 





J7I 


12 

97 

7/k 

7ft 

7Vt + v* 


2^ B 




13 

a 

2% 

7% 

2% 


177*1 

EsInCo 

1X0 

5J 

in 

21 

rift 

19 






7 

59 

34 

lift 

33ft— % 

IS’. 

7ft 

EchoB g 

.12 



146V 

.15 


** 

1^. + % 


15'* 


160 

46 

9 

10 

71ft 

21% 

21ft + ft 






37 

77 

S% 

5ft 

5% 





J 


1 

lift 

lift 

lift 

7% 

T% 

E in Car 



5 

8 

4 

5% 

6 

19% 

12’, 

EavDvi n3JQ 720 


13 

IS & 

15 

1? — ft 

% 

% 

EngMgl 




a 


Ik 

10% 

4% 

EngOII 



7 

111 

9% 

9% 

9'k — % 







1 

% 

% 

% 

17% 

10ft 

ESD n 

.40 

10 

a 

m 

13% 

13% 

13% — % 


2% 

Erralraf 

,48c 1 LX 


54 

3% 

3ft 

Sft — % 

12% 

8 

Era Ind 



g 

11 

10% 

10% 

10% 

9% 

4% 





s 

7% 

7% 

7% + % 

8% 

51* 

Eskey pf IJH 124 


7b 

/% 

7% 

7% 

24% 

ISV: 

Ewev 

.40 

23 

8 

Si 

17ft 

17% 

17% + ft 

4% 

% 

Esprit 




17 

1% 

lft 


37ft 

au. 

EsaRd 

.72e 20 307 

3 

34% 

.lift 

34ft + ft 

10ft 

6 

Evrj A 

JO 

21 

a 

2 

9% 

9% 

9%- ft 

9% 

6VS 

Ej-C«I 

60b 46 

12 

25 

9ft 

0% 

9% 


6% 

4% 

I5'4 

2ft 

30ft 

16% 

13% 

4% 

18ft 

5 

17% 

6 

15% 

14 

4ft 

13% 

25ft 

30 

3S% 

37 

4% 

4% 

lft 

19% 

79ft 

33 

14 
11 

24% 

12 

2% 

15 

44 ft 

34 
lift 
13ft 
ISft 
34ft 

15V, 


4% 6ftl 
lft GTI 
10ft GakxC 
lft GaljcvO 
34% Garon 
7% GalLil 
97g GelmS 
2ft Gomco 
12% GDbIm 
2% GnEmp 
13 GnMlcr 
2% Genlsca 
9% GerwDr 
7ft Geo Res 
1% GeoRwt 
B's GeaRspt 
12% GianF s 
B GniYIg 
20’ft Glalllt 
23ft Glnmr 

7ft GiCbNF 
3 GaldW 
% GW Fid 
lift GorRpS 
22% GouldT 
24 GuidTnt 
4% Graham 
5ft GrahMc 
16% GrndAu 
7ft Grant 
V. Grain wl 
9% GrToai 
27 GrlLlcC 
12% Grenm % 
5% Greiner 

3% GrdCti 
11 GIICdB 
24 GIFstr 
■ Gull 


68 6A 
JO 6.7 
I0t .7 

JO 1.9 


100 1(L0 
SO 2.1 


68 26 
160b 3J 


I 

12 

34 

99 

33 

103 

56 

279 

59 


13 A 
31 

10 141 
4 43 

li 

23 

14 217 


.74 19 
3X01 66 
3J5 I1J 


260 

88 

13 

704 

336 

422 

6 

7 

3 

18 


Aft 

7% 

11% 

1% 

27ft 

9% 

12'-! 

54- 

14 

3 

15ft 

5'.'. 

10% 

liv.- 

312 

10ft 

25 

15 

35% 

M's 

4 

4% 

% 

19% 

29'. 

» 


4ft 

2 

lift 

1% 

27 

Bft 

12% 

2ft 

13ft 

2ft 

lift 

5 

10ft 

lift 

3ft 

10 

34 
14ft 

35 
30 

3ft 

3ft 

ft 

19ft 

29 

3» 

6% 


tJOeJOi* 

7 

548 

5% 

5% 

.40 

2) 

12 

74 

18 ft 

18% 


11 

8 

Bft 

8% 




S 

ft 

’fm 



17 

9 

11% 

lift 

.48 

IJ 

17 

214 

37% 

37 



13 

41 

24% 

23ft 

.m 

86 

11 

17 

11% 

11% 

50b 4.1 

10 

73 

12% 

12ft 

J2 



477 

lift 

14% 

60 

1-1 

14 

177 

75ft 

35 

05a 

.4 

16 

71 

17ft 

17% 


4ft 

2ft T ■* 
lf% + % 
1%— ft 
27 - V 
9ft— '•3 
12ft 
S% 

13ft- % 

3 + ft 

ISft + % 

5<u *■ ft 
10'". + ft 
lift + % 
Eft 

10 — ft 

24 — '•* 

141* ♦ % 
3Sft 

30 — ft 

4 

4<J +lft 

V- 4- W 

lVs + % 
J9ft * ft 
29 

Aft— % 
5’g— ft 
18% — ft 
S%— ft 
ft + >4 
11% + V* 
37ft + % 
23ft— V* 
11% — % 
12ft 
14ft t- 
35 — ft 

12'.*i t- ft 


10% 
13ft 
21ft 
4% 
3"* 
1% 
10% 
29% 
27 ft 
2% 
39% 
43 
41% 
9% 
17% 
10ft 
17% 
15% 
9% 
17% 
3ft 
9 

l'ft 

5% 

3% 

4"j 

18% 

24% 

27ft 

23ft 

12 

3% 

19ft 

6% 

6% 

18% 

23V, 

74% 

21 

9% 


Aft HAL 
10V, HMG 
11% HUBC 
4% Halifax 
Ilk Haiml 

1 Haiml wt 
6 '*t Hamoil 

21ft Hndvm 
13% Hantrd 1 
ft Haniey 
21ft Hasocs 
24% 

28ft 
8VS 
12'- 
5% 

6% 

11% 

4% 

10 

2 

3 % 

3% 

1% 

2 

6% 

15% 

20 
14ft 


JOe IJ 


17 

4 

8% 

40 5.7 


1 

10% 

10ft 

60Q 2* 

13 

I 

20% 

20% 

Ale .7 


12 

5% 

5% 


201 

2ft 

2ft 



15 

lft 

1% 

.931 11X 

8 

ii 

Bft 

7% 

JHe J 

9 

76 

24% 

24% 

JO 1.9 

15 

75 

26% 

25% 


52 

1% 

1% 

.15 6 

10 

501 

33ft 

33’ft 

100 5.1 


26 

39 

38ft 

60s IJ 

10 

6 

30% 

30 


273 

B4a 

8% 

J8I 27 

8 

570 

15ft 

12% 


107 

* 

8% 


17 

a 

Bft 

8% 

64 4.9 

9 

6 

13% 

13% 

JOe 24 

a 

11 

BV, 

B% 

.10 .7 

* 

45 

14% 

I4Vj 


S3 

a 

2ft 

2% 



121 

3% 

3% 



1W 

ft 

V» 


42 

55 

5 

5 


40 

7 

2 

2 



1 

2ft 

2% 


Hasting 
HI1 n 
Himcrs 
hi men 
HlttlEk 
HelltiM 
Hemwr 
Helnlck 
Heidar 
Helianr 
HelmR 
HerstlO 
Hlndri 
Holman 
HallvCa 
HmoG n 
Hmlns of 2.95 13.2 
Horml 5 64 2^4 14 


J4 U 7 


HrnHar 

HrnH wl 

HatIPtv 160 9 J 
HoMP wl 

HouOT .74*17.9 
HovnE 
HubelAS J6 


% 

13ft 
2% 

3ft 
11% 

14% 

157, HubelB s 31 33 13 
17% 

Aft 


11 
14 12 


HutfGn 
Husky 0 


-40 2J 15 
JA 56 


78 

3377 

265 

73 

*9 

400 

126 

35 

483 

50 

7 

114 

5 

195 


18% 18% 
24 29% 

22% 22'. '4 
22% 22ft 
7 Aft 
■hi % 
1F» 18ft 
4ft Aft 

4% 4ft 

left 16% 
22% 22% 
24 23 

18% IBM 
7ft 7ft 


8%— ft 
10ft— ft 
20% — % 
5ft — ft 
2". + % 
lft 

7^— ft 
24".- ‘1 
26% -h % 
lft «■ ft 
33% 

39 + ft 

M'., + ft 
Bft 

14 — 1% 

9 + '« 

8%— ft 
13% — ft 
E% — '/• 
14ft 

2% — ft 
3% 

5* 

2 — ft 

2ft 

18% + % 
23ft— * 
22% 

22ft 

6% 

%— ft 
18ft — ft 
Aft 
4'x. — 

14% 

22% 4- % 

23ft + v, 
18% ■+■ % 
7ft -r % 


B 

55ft 

7% 

3% 

9 

3*. 

2U 

40ft 

13ft 


3% ICEEn 
32% ICHs 
1 (CO 
2% I PM 
3ft IRTCps 


ft™ 


imoGp 
v, imalnd 
30ft ImpOII g 160 
5 1 might 

22ft lift Instms 
2ft 1% uutSv 
2%- InsSv pl 
4% IntCtvs 
10% Intmk 


.12 12 
.12e 46 


3 

13 

IS 

Aft 


2ft IntBknl 
InIBk wl 


JO 1.1 

JSI 10.0 
60 

.12b .9 


54 5 

778 52% 
27 1% 

22 2V: 
92 7ft 

7 5ft 

8 3 

47 % 

1200 38ft 
400 4 

23 18% 
190 1ft 

1 2ft 
29 12V* 
17 13ft 
144 3ft 
77 


S 5 - % 
49ft 50 —3 

1 V* 

2ft 2ft — % 
7% 7ft + ft 
5ft 5ft , 

3 3 - ^ 

ft % 

38% 38ft + % 
5ft 4 + % 

17% 17ft — ft 
1% 1%— ft 

lft 2ft 
12 12 
13% 13% 

3% 3ft— ft 
ft % 


13% 

SVi IntHyd 

19 

54 

7% 

7 

7 - 

% 

7% 

3% InlPwr 


a 

4% 

4ft 

4% + % 

ift 

1ft Inf Prat 


40 

3ft 

2% 

3 


10ft 

2% iniTfirn 

19 

595 

4 

3% 

3ft- 

% 

10ft 

2% InThrnf 


49 

3% 

3% 

3ft — 

vt 

aft 

13% Ionics 3 

21 

248 

n 

aft 

a 


41 

IS IroaBrd 

a 

41 

34 

aft 

a % 



Hotel Parker Meridien 
A monument to the fine art of living 

in Newark 


i:ve-lln 

MV-J-. Lb* Vr.* 

P - 

ru 

PE 

S<L Close. 1 

lO&HtonLov* QiMi.cnge 1 







L_ 









1 


II 


SOU 44 

11 

ri 

1 \'1 

lift 

lift 







5 

Sft 

5*. 

5ft 








4 

3% 

3% — % 



JCt A wl 











./tl 




Tu 


?ft -h 'k 



JchnPC 




3Z 

3% 

3% 

3H— ft 


5ft 

JahnAm 

JO 

U 

V 

iff 

i'h 

* 


n% 


John Ind 



•3 


B 

7ft 

7ft— ft 

i’i 

2--» JumnJk 



is 

10 

2% 

2ft' 

2% + % 

i — 





K 




"1 






2 

26 

3ft 

sw 

34k 




JO 

IJ 

9 

5 

13% 

13ft 

13% + ft 


10% 

Kav J n 

JOo 2J 

11 

hi 

U% 

17% 

13 + ft 


4ft 

KeorNl 

.40 

18 

14 

9 

10% 

1(»H 

10ft 


14 

Kelchm 

6St 14 

I? 

2 

19% 

19ft 

19ft- % 




.151 

44 



3’/. 

3ft 

3ft— % 




.lSe <X 

18 

3 

3% 

a% 

3% —• % 




-M 

23 





9ft— V 4 






V 

A 

7» 

7ft 

2% 


pi 





42 

3ft 

3% 

3ft 


3% 

Kilern 



29 


3% 

3% 

3% 


1’k 

Klnark 




1(1 

3ft 

3% 

3ft 







217 

7ft 

2% 

TV. 






15 

U 

Bft 

5% 

5ft 




JJ2r 

.7 


3 

2% 

2% 

2%— % 










15% + % 

io'.s 

aft 

YcoerC 

2J2 

S3 

96 

81 

a 

26% 

Tift— ft 

1 «• : J 


I 1 * 

LSB 




42 

2 

Ift 

2 + Vk 















20 

14 

a 


rift 

19ft— % 






35 

359 


10 

10% + % 






31 

1 

9 


9 







■ 2 

5ft 

5ft 

5ft 




100 

15.1 


i 

a 

IV % 

1V% 






II 

4A 

Aft 

Aft 

6ft 




JOi 

.7 

10 

456 

29% 

28% 

2V + % 

















5 


4 



*% 

LbiFPh 

JO 

IJ 

10 

190 

2W, 

28% 

aft +m 



L.feRst 




2U 

1% 

1% 




LITfld 




SO 

3ft 

3% 

3%— V» 







31 

>% 

1* 

1% 







X 

30’S 








19 

525 







98 

J 

n 

22V 

W i 

14% 

16ft + % 






IS 

62 

12 

11% 

n%» 






ii 

105 

11% 








9 

4 

13ft 

13ft 

13% — % 

76'; 

Bft 

LvnCSs 

JO 

IJ 

12 

84 

12ft 



il 


141- 

2% 

9% 

lft 

12% 

4ft 


13% 
21% 
ISft 
24' J 

4 ». 
17 

a-* 

24ft 

n 

19 % 
7% 

aft 

20 

23% 
14% 
74ft 
4% 
7% 
7'.. 
34 ft 

aft 

17Tr> 

10 

25% 

»% 

77% 

8% 

12 

IB's 

lift 

42 

44 

18'i 

18% 

aft 

4% 

i°% 

10 

2'a 

13". 

6% 

5 
1 

lJ'k 


7% 

"a 

4ft 

7ft 

71* 

Bft 

ft 

lO'b 
8ft 
lO’-i 
2".J 
Aft 
21 ■« 
15% 
13% 
10% 
5 

9% 

Eft 

15‘. 

9V. 

14ft 

4‘S 

1% 

1% 

40 

14ft 

13". 

S% 

8ft 

II 

181 ■ 
3', 
8% 
12% 
9% 
32'- 
J4=. 
10% 
10ft 
15ft 
1% 
144* 
8 
1 

Eft 

2ft 

lft 


M'Mhd 
AT. CO Rl 
MSA 
MSA wi 
MSI Dl 
M5R 
MccGro 
MOCSdh 
ivwia-od 
Htn Bk 

Mbps JSI 1J 
Molorfp .40e 
Mongd 
MrthOI 
MTklVS 

Morm of 2J5 106 
Mrsnin 


68ellM 


.16 6 44 


13 


a 

107 

7 

2 

24 

54 

509 


13% 

lft 

8% 

1% 

9 

2V3 

Bft 


21 
19 

JOa IX A 
18 

.12 IX 10 
J 

21 


MartPr 
Moslna 
Malec 
MaiRsb 
AtaiSen 
Matrix s 

MarErtfl 150 136 
Mavflw 60 16 10 
McDaw 25 

McRae A JOe 53 12 
McRae B 1 1 

Media 1.14 16 17 
J4 1.1 19 
40 U 7 
J0r 23 4 


AAedlq 

fAem s 

MercSL 

Mel Pro 

Meters 

MelroC 

MchGn 

UlOAm 

MrchiE 

ManMa 


.15 


6 23 
8 
41 
7 

46 12 
U 30 
33 II 


J4 

.... 60 . 

MonPpt 4.40 1U 
ManPpt 4.SD 115 
MoooB JO 1J 17 
M009A .73 IJ 17 

MMedn 14 

MlsRt wt 

MlOGltl 154 8.9 7 
JOe 23 


109 1?'A 
103 % 

15 11% 
59 20% 
24 11% 
43 13% 
20 Aft 
11 15% 

14 21ft 

45 17% 
24 57 
TO 19% 
18 5% 

245 13 
49 ISft 
100 19% 
34 11 
244 21'A 

3 5% 
1 3ft 

4 3% 
1 83% 

17 21% 
10 17 
85 8ft 

15 18% 
45 13% 

5 24% 
121 Aft 

B 9ft 
250 14% 
9 14% 
SOi 38ft 
2Dz 39 
14 17ft 
179 14% 


20% 

1% 


MlaPI n 

Mortrn 

Motts 

Ml Med 

Murpln 

Muse wt 

Mverln 


1OT 18% 
20? B% 


JO 


25 47 
12 


1 A 
122 
37 
3 

94 


1% 

2% 

’vS 


JBb 26 9 14 10% 


13V, 

1% 

I'A 

1% 

8% 

3% 

7% 

ia £ 

u% 

n% 

4% 

15% 

21ft 

17ft 

54% 

19ft 

5% 

10% 

15 

19% 
10% 
21 
5% 
3ft 
3% 
83 V4 
71V*. 
14ft 
8% 
18% 
13% 
26 Ml 
4 

9% 

14% 

16ft 

38ft 

39 

17 

16% 

20ft 

lft 

17% 

8% 

1% 

4% 

't 

10% 


13% 
l%— 

a% 

1% 

8% 

2% 

7ft— 1 
19 + % 

% 

11 

70% — % 
lift + % 
13ft +2 
4% + % 
15% + ft 
21ft 

1714— ft 
57 + % 

19V, + % 
5% 

lift +1 
IS — ft 
19% — ft 
11 

21% 

5% — V. 
3ft— M 
Ife— % 
B3%— % 
21% — % 
14ft 
Bft 

18% — ft 
13% + % 
24% + ft 
4 — % 

9ft— % 
14% + % 
14ft + ft 
38ft 

39 — 1% 
17 — ft 
16ft + ft 
30ft— ft 
lft— ft 
17% — % 
B%— ft 
1% 

8 -ft 
4ft + ft 

ft 

10ft 


<1- CKne 

a.at.0104 


S': FGEPtH 1 13 10.7. 
17r* PGEotR 2J7 10." 


lift PGErrfL 226 11.1 
15". PGEplK 2.04 10.7 
8". PGEptl 1X9 106 
14- PGTrn 1J4 4 4 II 
38ft PMLlB? 4 75 106 


ft *5 Pmt* 
am 32 % Ponca 
8% 5ft Pontaat 
12". 17% PorkCft 
13% 4Vs PotTCh 
13ft 4% PoulPt 
5% 3% Pav Fan 

13 7M PEC 1ST 
11% 8ft PwrTu 


2ft % PE CP 


29 

44 

54 

631 8 J 12 
60b 4 0 13 
60 2J 12 
1J0 46 11 
.25T446 
7.1 10 
26363 


JO 


4ft 

% 

9'i 

lift 


6% 

7 

7* 

5ft 


3ft 7ft Penril 
1% % Pontm u 

10 34ft PerlnlC 60 
.3% 11 Per till 60 
12% 9ft Perinlpf 1.10 
2ft PetLw 
ft PelLwt 

6ft PetUof 155 218 
7% PelLepi 2J8 JO 
17% 11% Per Lent 3J3 ZU 
Z% lft PWILD JM13.9 
lft P'lCDPd 
2ft Pier I wl 
2*4 PionrSv 

... 4ft PllWVa 54 I0J 
Uft 10ft PliDsm .3)1 
10% 6ft Pinaln Ji 
low 15ft PlCrD 0 JO 
14% 12SV PIVGm S .16 
4% 2ft PfVRA- 
24% 17% PmuSc 160 O 
6% 3 PowEv 
13% 7% PortSrs 
17% 12% PoallPr JO 
Sft 13 Pratt LS 
8% 6% Pratt Rd 681 
12% 7% PresR B 160 
4% 3ft P reiki 
22% 19ft PrpCT 3 156 ... 
a% 14ft Pptptc 2J4 ha 
34ft 30ft PgtetE 4.37 135 
Bft 7% PuntoG 


B* 24 23% 

42 10*2 10% 
?!?■ 

18 18% .«% 
42 .18% l|lr 
34 ISft 18 
16 20ft »ft 
350 19 '8% 

34 10ft 10VS 
33 28% 28% 

ar^ is 

' 240 40 39ft 
a 7ft 7 
45 35ft 32ft 
tl 4% 4Va 
li 9% 9% 

13 3K 3% 
«! m io 
44 10ft 10 
99 26*1 23ft 
23 24ft 24^ 

25% 25% 
7<0 7ft 
lft 1% 
_ 27ft Z7V> 
58 12% 12ft 
7 12". 12ft 
320 2% 2% 

105 % S 

48 7ft 7ft' 
9 9% 9% 

67 14'/, lift 
48 2 lft 

2ft 2% 
5% 5ft 

Jft 3% 
5% 5ft 
15% 15% 
7ft 7ft 
17 14% 


148 

52 

52 

21 

3 


2.9 

3J TO 
9.1 


9 
23 
1.1143 


15 14 a 15% 15% 
5 3ft 3ft 

aft 22% 

3% 3% 
12 11 % 
.. 14% M% 
104 a 22% 
1 7 7 

19 11 10% 

•-29 3ft 3V, 
597 19ft 19% 
11 20% 20ft 
24 32% aft 

1 5ft 5ft 


24 + ft 

10ft 

21% 

18ft + ft 
ISft 

18.. + ft 
aft 

19 + ft 

10ft + ft 
28tt-f % 
45 +1 

71% +1% 
44ft -1£ 
ft 4- % 
39% + % 
7ft— % 

35ft +3 
«%- ft 
9% 

3% 

10 + ft 

10 

26% +3% 
Z*% f V, 

% + .ft 
25% - VB 

TST'* 
s??=is 
,av ' — % 




35 
M 13 
1) 

96 4 
14 

8.1 13 


280 

186 

W 


7ft— ft 
»ft— ft 
14'A + % 
t% 

2% 

5% 

3ft 

5ft— ft 
15% 

7%- W 
16% 

15% + ft 
3ft 

aft — ft 
3% + %' 
lift— ft 
14% 

23 + % 

3 f Vk 
10% — % 

19% 

20U— % 
32% + % 
5% 


10% 

5% Quabgs 

.14 

3J ' 

2* 

Bft 

8ft 

Bft 





R 




| 


5% 

RAI 

J51 

56 20 

25 

6% 

6W 

ift 


3% 

RMS El 

r 


6 

m 

3% 







1 







.12 

h «* 

10 

20% 

20ft 

20ft 

30 

15 

Rancho 

.73 

4J) 28 

ia 

ii 

18% 

Vs 

'H 





10 

7 

«% 

8% 

Bft — ft 




1J3* 76 

17 

1i% 

14% 







2 

lft 





RltSo jn 1 JTe 6.* 

2 

17% 








77 

2ft 

2ft 





60b 4.1 )3 

IV 

14% 

14*7 

14% + ft 





34 

371 

45ft 

44ft 

45ft + % 


3% 

RslAsB 


10 

184 

5% 

5 

5% + % 





I 


5 

4% 





.10e 26 It 

•3 

4% 

4% 





JO 

IJ 15 

94 

10% 

10% 

10% + ft 




M 

36 

2 

14% 

14% 





JS 

ij a 

92 

17% 

lAft 

17ft — ft 




.12 

A 21 

-7 

71% 

21ft 

21 ft — ft 






50 

1% 

lft 







TO 

6% 

6% 

ift + ft 




Jia 22 10 

3 

25% 

25% 

25% — ft 





B 

70 

Oft 

Bft 





JO 

IX 14 

106 

19ft 



29% 

li 

Rvi'aft 

A0 

2X 13 

183 

a% 

22% 

22ft + ft 

■ S ; | 


N 


17 

2£% 

lift 

21": 

a% 

PV 

27 

8'r 

4«'. 

6'.* 

17ft 

It 1 -: 

l"-: 

r* 

13ft 
2'i 
3% 
11' : 
5 

ir* 

12% 


13'.* 

lB'i 

5'.~ 

IP. 

13% 

14% 
17'.- 
73 
7V, 
31V, 
3V, 
11% 
lift 
13' » 
5% 
4% 
1% 

9% 

2% 

4% 

8% 


260 I8J 
260 13.9 

14 

60b 36 10 
.10 6 
.79 46 19 
IQS 66 15 
1 JOe 4 3 13 


NRM n 
NRMP 1 
Nantck 
NlGsO 
NlPatnt 
NMr.Ar 
NFInRI 
NProc 
KWIdPn 
NY Times 60 U 16 
NeivbE J5r 56 10 
Newcor J2 17 
NewLs n 13 

NwpEI 160 96 11 
Nidiinn 
Nichols 
Noellnd 
Nalex 
NCdOgs 
NuHn 
Nuclei 
Numoc 


19 


73 13Tb 13% 13% + % 
43 19 18ft 18% — ft 
V 8% 8<i 8%— % 
4 lift HU lift 

449 18% 17% 17%—% 

3 17% 17% 17% 

25 15ft 15ft 15% 

119 26 25% 25%— % 

1T2 8% 8% 8% + ft 

87? 44% 44 44% + % 

1 4% 4% 4W + % 

15 lift 11% lift 

40 14ft 14% 14% — ft 

17 16ft 18% 16ft— % 
35 4% 6ft 4% 

9% 9% 


m 

158 

3% 

7ft 

3% +1 

13 

ISV 

7ft 

2ft 

2H- 

ft 


18 

10ft 

10ft 

10ft — 

ft 

9 

37 

3ft 

.1ft 

3ft 


10 

54 

Vtn 

5% 

SVi — 

ft 

1 IB 

Vft 

9'A 

Vft — 

ft 


24’- 

a% 

12 

2019 

27% 

Tb 

T.i 

■ e- 

2% 

24ft 

15ft 

14% 


14% OEA 
15 * Oakwd 
4 OdelA n 
13% OhArt 
10’* Olsten s 
J -s OCViec 
3% Oopenti 
4% GrlolHA 
I- Ormand 
14 QSuhms 
*% OxlrdF 
B". OzarkH 


68 A 


U 


1J295 
.9 30 


.05a IX 
IS . 3.7 % 

62 16 18 
621 56 11 
JO 16 31 


13 »% 
213 l®ft 
3 5% 
3 20% 

ia 25% 

1 4’m 


. 4% 

*1 ■« 

9 24% 
93 15% 
411 14% 


20% 20% 

19% 19ft 
5% 5% + % 
20% 20%— ft 
25% 25ft 
Aft 4ft— % 
4% Aft 
5% .-5%.--.. 
1% -1% + % 
24 J* —ft 
15 15' 

14% 14%—% 


15 

13% 

12% 

12ft 

nv, 

12% 

34 

33ft 

?9?8 

24% 

Hft 

74', 


IP. PGEPfA 1J0 
10% PGEpfB 1J7 
?% PGEBtC IJ5 
9% PGEPfD IJ5 
9% PGEotE IJS 
Bft PGEPtG 1J0 
31% PGEpfP 4J4 
29% PGEpfZ 466 
24% PGEprv 3 JO 
19-A PGEplW 267 
17': PGEPtV 2J2 
18% PGEpIT 264 


10 
11X 
10.9 
106 
106 
126 
126 
11 J 
10.9 
119 
106 


3b 

14 

13ft 

13ft 

5 

2 


12ft 

"ft 

12ft' 

lift 

12 

im 

lift 

lift 

94 

"*4 

"ft 

"ft 

34 

11% 

"ft 

lift 

12 

34 

33% 

34 

17 

31% 

31ft 

31ft 

a 

28% 

aft 

28ft 

s 

av. 

73 

aft 

in 

21% 

21 

21% 

43 

a% 

Oft 

23% 


9ft 
13ft 
10% 
12% 
21 U 
9". 
17ft 
3ft 
22% 
77% 
A ' 
20% 
2% 
238 

4ft 

30 
11% 
lift 
5% 
4% 
29% 
TO 
8% 
20% 
7V. 
3ft 
5% 
5ft 
13% 
34ft 
a 
81 ft 
9% 
16ft 
2% 
14 

19% 

16ft 

14% 

4% 

a- 

1% 

22% 

31% 

10 

1% 


8% 

Bft 

39ft 

5 

10ft 

9ft 

1% 

9 

24ft 

39ft 

24 

a 

5% 

7 

6% 

11 

9ft 

15% 

5ft 

30ft 

2% 

14ft 

7% 

34ft 

TO 

68% 

2V, 

15% 

4% 

1% 

8ft 

4% 

14% 

11 

13ft 

12ft 

I3W 

1% 

ISft 

16ft 

15ft 

ISft 

15ft 

5% 

4% 

21% 

21ft 

28% 

9ft 

14% 

1 

10% 

lift 

lift 

12% 

14% 

23ft 

a% 

75ft 

3% 

PA 

!£ 

3 

23% 

77ft 

10ft 

aft 

10ft 

24ft 

au. 

5% 

2% 


10 


1.45 


J6 13 
10 


17 


68 10J 


IS 

66 16 15 


3 V, SPM 
7 SFNpfA 
Sfl% 5JWS 
2% SMD 
6% Sage 
5 Salem 
% SCorio 
6% 5 Dbop! 

19% SDBOPf 267 106 
34ft SDoapI 463 12X 
20% SDgoof 268 10.9 

21*i sandote xn 19 

3% Sanmrk 63t OX 11 
4ft Sound B .15 26 7 
4ft Sound A JO 37 8 
9% Sound Pf 1 JO 12X 
7 SrncnDn 1 JO 146 

lift Sborra n 
3ft Sceatrn 
17% Schelb 
lft School P 
9% Schwab 
3% SciMgt 
lift SciLso 
12". ScurRn 
42ft SbdCn 
1% Seeaort 
9% Sec Cap 
2 SeisPro 
% SoisDIt 
3% Sclas' 

2'A Semtct) 

9% Srvlaco 
7% Servo 
6% Servolr 
9ft Sctons 
Bft Sheer S 
% Sharon 
8% Shopwls 
4% SierHSn 
9ft SlerSo n 
7ft Siercn 
8ft SikesA 
3ft SHvrcsl 
2ft SlmcaS 
10% SmthA 
10 SmihB 


ej 33 
16 

B 


10 4 

14 8 

11 ,40ft 
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7 7% 

S3 6ft 
« 1 
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7 23% 
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44 27% 

4 4% 

18 5ft 
58 5ft 
17 10 

45 8ft 
144 15% 

4' TA- 
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17 3 
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91 12% 
49 19ft 


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24 

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.09 .9 11 

U»e 8J 8 

■" M 30 
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J01 

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68 

lft 


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1 

37 

33 

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24% Smthpf 2.12 76 

f & 

% SoTex 

Bft SCEd Pf 162 106 
Bft SCEd Of 1X4 10J 
8ft SCEdPf 168 10J 
0% SCEdpf 1.19 ltLI 
lift SCEd Pt- 165 10.1 : 

18 SCEdpf 230 mi * 

17ft SCEdpf 2J1 10.1 
59ft SCEdpf 768 106 
2% SwBan O’ 

4% SoedoP 
5ft Soencer 661 
3ft Spndth n I7S 

ft Spndl wt 
17ft SldPrd 64 36 7 142 24% 
65ft SidShr 1060r!4.1 II 
7ft Slanwd 61 

14ft Slarrff-l IB 

ift S latex 

21ft Sfotxpf 265 11.7 
ISft Stepan 68 3X 12 
4ft StrlCaa 
1% SterlEI 



4 4 4- % 

8- 8 

39ft 39ft + ft 
3ft 3% + % 
7% 7ft + Vi 
5% 6 + lb. 

1 1 
8% 8% - 
a a + % 

38ft 38ft— ft 
24% 24ft— % 

27 27ft + ft 
Aft 4ft — ft 
Sft 5ft + ft 
5ft Sft- ft 
9% 10 • 

8 Sft— ft 
V% 15% + ft 
3ft. 3% 

28ft 30% +1% 
1ft ' 1% 

TO 10ft + ft 
5% 5%— ft 
12ft 12ft + % 
17% 17% 

67ft 67ft— % 
1%. 1ft— ft 
10% 10%—% 
2ft 

% + % 
Aft 4% 

2% 2% 

12ft 12ft 
10% 10% - ft 
13ft 13ft + ft 
10ft 10ft— ft 
12ft 12ft — ft 

S ft + 

1146 71% — ft 
5% 5%— ft 
11% 12 + % 
7% 7ft + ft 
9% 9%— ft 
4 4 - ft 
3 Sft + ft 
aft 21ft + ft 
20% 20ft— % 

28 21 — % 
7ft 7ft 
8% 8ft 

10ft 10ft + ft 
10% 10%—. ft 
10% 10% + ft 
11% ,11% + ft 

a% + % 

1- 
Sft 
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% 

22% 24ft +1% 
70% 71 + ft 

9ft 9ft— ft 
16ft lift— ft 
Bft 8% 

Sft 22% + ft 
ft %-* 



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a j% SupSL j*, n 

13% a SuoindB ^ 

IK? lift S upr5 L, 

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to" 1 19% Iwimn 1J0 


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189 4ft 
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88 37** 
1 18% 
173 I*- 

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232 23* 
1 3% 

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I 

live 

lift 

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3% 

Vi 


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ia * - 
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3% 

23 

37% — ft 
18ft 
lft 

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64 

JO 12 

60 36 13 


11 
17 
11 

JO 22 B 

JOe .1*15 

so 16 14 
M 36 15 


17 


4% T Bar 
4% TEC 
4% TIE 

13% TobPrd 
6ft TandBr 
e% Tastv 
1% TchAm 

44ft tShD? 769*126 it 
3% TocTlTp 
1016 TocMrl 
lft Technd 
w TeimR 

lft Teieean 
24'A Teiflex 
8% TdDfo 
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2ft Telesoh 

21% TwCdfl 3-20 3 

SBSS-.O'dS” 

16% TexAE PI267 1A5 
\ Txscan „ 

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ift ThrD B 6* J J 15 
3% ThrOA .10 26 ^ 

27% TolEO 3H 

51 TolEdPf 7^6 325 
44ft TalEdcflOXO 126 
2% T oriel J9M26 
8% TollPI « 
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B% TmsLx 
11% TmsTec 
i3vu Tra reran 
b% TrtaCo 
3% TrlHme 
3ft Trtdex 
2ft TubMex- 
10ft TurnB n 
a TurnrC 
8% TmEnn 
lft Tvlrwli 


J4 

JOf 1 J 11 

-a 0 ; 

691 46 45 
14 

a 

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.158 16 


3 E fc S-* 

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2flto222ft21« 220ft— - 

Sfe££=a 

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20z 77*3 TT*! 77J?— t -? 
18 3ft 3% 3ft +■ 

391 16^ 1B9 IW * £ 
95 2 1* 2 2 — ** 

•34 11% 11% lift 
102 iJ 15% 15% + ft 
12 15% 14% 15% + % 

a 4 d 
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14ft 14 14 — 1 

SVk 25% 25 ft + % 

“3 8% 8% + % 

lft lft lft + % 


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43 

118 

113 

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a 

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3% 2 U5R Ind 

17ft. 8% Ultmte 12 

13% Sn umeorn 22 

ISft 11V, -UnlCPPF JS 5.2 
11% 8ft Unimar 1.93elB6 
23V, 15ft UAIrPd 64b 26 14 
2ft lft UFoodA-.lO 6J 
1 lft UFoodB 
14ft 11% UtMed 13 

a% 12% USAGwl 
8% 5ft UnlMV 2T 

aft 14% UnltUn 172 76 7 
14% 9% UftvOn - M 

8% 6% UnlvRe 14 

15ft 10% UnvPat 


4 1% 

21 2ft 
234 14ft 
8 11 % 
2 14V, 
42 10% 
21 aft 
5* 1% 

12 1% 
47 13ft 
8 15 
33 7ft 
1 22% 
15 12% 
54 7ft 
35 12% 


1% 

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14ft 

lift 

14 V, 
10ft 

aft 

ift 

ift. 

13 

15 
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22 ft 
12ft 
7ft 
lift 


lft + V* 
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lift 

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27ft + ft 
11: + ft 
1U — ft 
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12 




10% 

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10 

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13ft 
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4% 

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lift 

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9%-VSTrt 
17% Volsor 5 
2M vent 
15% VfAmC 
3% VtRsh . 
ft. Verna 
8% VernJt- 
5ft viatech 
4% VI con 
lft vjnlwe 
4% VlsualG 
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14M VUlCCP 
5 Vvaust 


95» 9 J 


100 

Vft 

Vft 

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258 

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a 

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17 

23 

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lift 

lift 


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X 

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20 

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30 

24 

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4 

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B 

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43 

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11 

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Sift 18ft Walbar 60 .1.1 74 
2914 15- WanoB . .14 6 

39 14ft WanaC .11 6. , 

2 - S WrnC-wt 

lift .4ft W1I1H1 ' 5 

130 74' WshPst .96 6 14 

20% .14% WRITS IJB 7J 13 
lift 7ft WotscB Ji 16 5 

5ft 3 Wthfrd 

lift 13ft WttiFd pf 262.176 
9ft 8% Weblnvn . 

1 ft Webfn Wt 

3ft % Webear " . . 

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12 7ft Wedtcfr 62» J 18 

9% 7 WeldTb 621 

14 BftWekttm . 12 

19% 4% wellco \ J 
2ft ft WMlAm 
4 2ft WalGnd 
40ft 19% Wesco 
2ft ft WespCD 
18ft 5% WstBrC 
13% Oft Wsfbrx 
15% Aft WDIglll . 

23% 7ft WlHIfhn . 19 

-aft lift WIRET 168. 76 14 

lift ift WstSL 8 .16 T.I 5 

J4% 11% WhrEn 5 18 

ift 2ft Wichita 

5%. 3 Wkdtes 

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32ft 30 WldMSPf26D 03 
13% ift Wiener n 60 4.1 

2ft 1 lAfllsnB. 

. ift .1% Mn| B 

7 %' 3h wan fa: 

Sft 19ft vfintlrr .7J49M16 
44% ' 34% WfsPW 460 10X 
4% 2% WotfHB 

10ft 8 wosfrm . 60 44 

» llft.WkWear 62 27 
5% 2-ft WvrdaE 
17ft 12ft WWdepf 160 123 
22% 9 WwHin J5i 

2lft lift wrattir X2 .1 43 


62 16 13 
18 

JO - 15 


30 4ft 4ft 

3 34ft 3*ft 
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6 18ft 18ft 
215 ^ ft 

11 9 Sft 

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. 154 18 17ft 
Tl 111 1 
154 3ft 3ft 

4 15 15 

14- 8% 8% 

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2a ft. % 

17 9ft 9% 
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24 Bft 8 
39 11% II 
105 13£ 12% 

89 Oft 
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17 1 

241 8ft 
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17 JOft 20% 20%— ft 
302 14% 14% 14ft — % 
1*9 lift 15% >4% 9- ft 



12 

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2H 

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5 

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192 3ft 3% 3ft + % 
JI 14ft 14% 14ft + % 

a mu 7% 10 — % 

39 19% 18ft 18ft — \» 


8ft 5% Yank Co 


II 33 7ft 7 7% 


■ft 3ft ZJmer XS] 


273 5 % 4 % 5 



jVu-. 13 


Dollar 


Itsu*r/Mat. 

Allied infliK 
Allied main 
Allied 1 run 97 
Anled Irlin Fere 
Arab Bks Coro 91/94 
Allantlc FhiI 9/94 
AutociilaiVS 
BcoCnarai llal 94 
Oca N« Lavarofl 
BcaDi RnmaW'fl 
BcoDi Potto 91 
BcoSimnspntoJi 
BcoDiSdnoW 
Bangkok Bk MIMthivI 
BoaCamrilAUhtrl 
Bk Boston M (Cool 
0k Greece 91/W 
Bk Greece 93/97 
Bk rretand B9 
S» Ireland sj 
Bk ManlrecX *4 
Bk Montreal 91 
Bk New York «1 
Bk Nova Seal ia 88/93 
Bk Nova Scoria 94 
Bk Scotland Pern 
Bk Tokyo 93 
Bfc Tokyo 87 
Bk Tokyo FetW-H 
Bk Tokyo DecM/9i 
BmJiamfTlcnOfSft 

Banker, Trent W 

B*»iken Trait 94 

Bti CaolMIft 

Bali Fm*7'9l 

Bali 97 

Bbl Ini 95 

Bbl I nl 99 

Bbl I nr 9] IMthlyl 

Ba in*Hwi97Coo 

On lnd09ue,99 

BueS? 

Bice *7 f Cool 
Bice JanO 

B ter 99 

Baindersoe,97(Caol 
Bnn95 
BnofTiCapl 
Bm 85*88 
BnoB4*« 

Boo 9* 

Bna 88/91 
BnoJuR* 
BnaQ5(Mltllyl 
Ba Paribas Pern 

Ba worms 8*194 
Barclays Bk Perpier* 
BardaysO/S*} 

Barclays O/S Pena 

BorekmO/EM 
BriukiinPerp 
BetekmO«W/«M» 
BetXIumn (Mltilyl 

Be(gfum<n/as(Mmi 
EMSBuro JaBffi 
BeijWm *4/04 
Betoken Od*fdM 

Ccceto 

Ccce-C5 

Oia»W95 
Oil 90 

ClfiC PS/CS (MfWyl 

ClbcJO** 

Clue to fWklyl 
UK« , . 

Cmrrei S+Lto 
Central fiU97/*B 
CcnJrial 92.9S 
Cmi8MonO/591 
Dime Mon Cam 0* 
Chase Mon Com 00 

CbneMon*/ 
Chemical « 

Chemkol M IVfkltl 
Chemieo(30No»99 
Chetmcni Ftb* 7 


Cowan Next BM Aikd 
7ft 10-12 99.M raox* 
h 17-44 loaiOlOQJO 
It* 08-01 9962 100.07 
Bft 20-11 98J0 9961 
Bft 18X3 9956 9964 
Sft ail 108X818025 

lft 07-05 99-95- rams 
I 0*-l2 9977 100X7 
8ft 2M4 10030100 40 
7ft DM2 99.90 100X0 
8587529-11 99 JO 99X0 
IS 29-11 9950 9*68 
050* *967 9031 
8V, 11-04 9775 9175 
■ft 09-12 99.18 *958 
Sft 1203 100X0180.10 
Bft 18-0* *830 *860, 
Sft 1302 98J3 *863 
8ft 29-11 99.9J IB0.W 
Bft 2701 *975 18050 
■ft 2901 1006710073 
SV; 38 M 1009210 1X3 
(ft 1501 109J0I0OJ0 
Sit 3CHP 1007510083 
Bft HOI 10H7410BX4 
(ft 140S*»Ji**X* 

e/i 2404 looxsiooa 

Bft 2*41 1000010075 
Bft IM2 100.1710052 
81fc 12-12 100X2100.13 
■■« 30-12 9*92 108X2 
Ift 11-12 99X5 100X5 
Bft 27-H 100S4100J* 
8V. - 100.191002* 

. nxo iaoxo 
Sft 9342 9725*825 
Ift 37-12 1 00.121 0QJ2 
IV 1164 100.1410024 
1U 17-84 99X4 99X4 
20*5 9*2 9*35 
Sft J40O lOOKlOQ-ti 

r-i 10-12 Koraun.15 

ST. 1S-11 *»J5 W.4S 
PA 22X1 99.97 10007 

a*. 1 M3 1001*10054 

SV» 18-1199X19*68 
Sft 0*42 1QU9H1J* 
■ft 2141 9*X6 9*64 
Sft 3141 180X11*011 
1% 12-12 1B037WU7 
7ft 05-12 100X2100.12 
8% 0443 101.15111 J5 
(■- 2241 99.97 10007 

SUi 1744 9*61 99.91 
•ft 11 12 10074100X4 
Ift 0*42 INStfOO-lA 
Ift 0241 100.1210022 
(A. 3141 >41.1110121 
Sft 0145 14060100X0 
8ft 04431001810058 

m 1342 wwran.ii 

Sft 13-12 WCX2ieai2 
8ft 2»42*9JiW0X4 
Bft 77.11 99X2 W.92 
t’- 1741 9*67 *977 
Bft 0941 US 02100.11 

tvt n-wiottumoji 

Bft 1242 lOOMltWJO 
git . itassiwia) 

B ff-12 nOX71D.Il 
12-H 1000*100 1* 
8 'ju 2843 9*88 *951 
(ft 2441 100X71001* 
Sft JM1 9U0 9&95 

8ft 1141 loojsmon 
n 2*11 **M Mojo 

0225 1245 99.94 1MX4 
Sft 0341*990 100SO 
Sft 3141 1004010050 
8ft B-15 TOOOW.ID 
8ft 1242*950 130X0 
2*47 WJO 9* Jfl 

*v. tf-amaaraua 

Sft 27-n 9970 9185 
(ft 29-11 WJSW65 
Sft - MS *965 


limer/Mat. 

Chemtcal Od 97 
OwlsHonk, Bk 91 
dirijlkmla BUN 

□NeorpBS 

□ticarp AusTMWklY) 

GtknrpSeim 

Cl Hearn PteoW 

CH taro 97 

QllcornM 

CtilcoraPen 

CIKcamPtaa*7 

Comedcof/ 

CommerAk Feo» 

Commenbk'Nov** 

Comm W6 Mo n *reol *T 

Como Fta Oc 97(NBbl 

Council Of Eunice 93 

CtkHop*3 

Cct 84/98 

cefwm 

C«*4 

Cef97(Mlhly)- 
Ccf *2 

Ceame 17/92 
Cr Du Nora 97 

Cr Fonder 0ctV7 

Cr Far Export *2 

CrLyotuiaUnm 
CrLyonnoli 90/97 
CrLvanncilS 19/94 

CrLyonnahll/9} 

C/LvonnoUt? 

Cr LvonnaU JanH/W 
CrLyormata*/ (Coal 
CrLvamaUn 
Cr Lvonnats Jun*2/to 
Cr National n 
Cr National WM 
Cr Notional 00 
CraHtanitaJl 9i 

CredUanpalift . 

Cr irnHano92 
CrmslandSav*5l277 
DflUcW KangyoU 
Dm*i/99fMIUv) 

Den Nurslie Nav*» 
□eaNsftVeOecOO 
Denmark JanH/fS 
Denmark Oet 11/90 
Denmark w/04 
Die Erne Oea *2/94 
□resdner Fin 93 
DmdnerFInB* 
Dmdner Fin 92 

Eldorado Nuc 8* 

Edt** 

Edl 97 (MBily} 
EreieadHuiuniYi 
Enel Oo 
Eob93 

Eurom Boncai«92 
Eat 90 
Etc 90 

Exienerlnl 91/98 
FmovteWIMlfilvl 
Ferr win W9? 
FerrovleA4av92 
Flatoad 99 (MOilrl 
Flmah Paner M/*5 
First Baton 91/9* 

Firtt BkSvst 94 
Firs! 5k lYIt97 

FlrefBkSvstZOW 
Fiflf CftCQflO 97 
Fimrtnicooo*? 
FlrsfOdeaenU 
FlntatvTeya**S 
F(fP Infer ?5 
Fart 9 1 

Fortune S+L 92 
Full intM/to 
GeMifHini»ra/97 
Genfluance 92/94 
Gib I* 

Gib 92 
Gib Pen, 

Gib*4 

Ghbri 

GlAmefN 15J50V92 
GrM»Lok*9S+i,ri 


Coupon Next BW Askd 

Bft **4T 99 7i *9X4 
■ft - 99.90 IfiSiS . 

evil 0*43 100X010075 
B22S 25-11 *9X4 99.94 
Bft - 9145 *6X0 

•ft 1M2 WJ8 waso 
Ift 7141 10007100,17 
7ft 10419*64*9X4 
Bft 12-12 M1X0103X0 
M 1H1 99X0 160® 
Bft 3141 100.U 10035 
Sft 27-I2 9*70 9935 
Ift 21-11 99X1 165X9 
8ft 20-H WO. 121 0052 
Ift 1143 99X5 100.10 
Ift 1245 9966 9976 
Bft 21-04 WO 04 10014- 
Bft 24-01 99.12 9932 
Bft 24-83 100X91001* 
Ift 0*44 1801310053 
2742 99X5 10005 
Ift 2743 W70 99X0 
063 10-04 10OX71DOI7 

ift . 12-12 msgiout 

lft 24*11 100X310013 
1% 0M4 *9.92 10002 
O'* 02X1 MOW1DO10 
1% 11-04 1006510075 
Bft B*-04 1001310053 
Sft OSXI 100X710017 
Bft 29-11 100S&KXLH 
Bft 27-12 1006718057 
Ift 21X1 1004510055 
Ift 07X2 9962 99X2 
7%u WX1 1001110028 
Ift 14-12 1006310073 
8V, 21X1 1001510035 

nv nx3 loeaiooa 

0425 20X2 1002710027 . 
Ih 0X1 100251 OOB 
8ft 27-03 100X5100 15 
7ft. OS-12 9*XS 100X5 
IW3 99JD 99 JO 
Bft - lOOSlTO^S 
Ift 09X1 108. 1010070 

IV - WJS 100® 
■ft 1*12 9*« HO® 
Bft DXV9994 IOODS 
Ift 15X4 1003110061 
8V3 19X2 1006510075 
8ft 39X1 100X010010 
Ift 21X4 IDl.UIOia 
Sft 29-11 99.97 W0X7 
Bft 17X2 1003010040 
Bft 21X2 W.93 100X1 
Bft 37X2 100901*1X1 
Sft 14X3 9* Si 99.*8 
8633123-11 9967 W® 
lft OOX3 1000410014 
fft 17-12 *9® 99JI 
27X2 99X0 

Ift 24X3 1000*10014 
7% 01X1 *945 9931 
7*1 23-12 100X710019 
Sft 3003 9991 100X1 
8ft 21X2 1006(10016 
Bft • *972 *9X2 

**65 «* JI 
Sft 3MT 99.97 10007 
812 29-11 99® 99J5 
*968 99® 
29-11 99® *9® 
26X2*965 9975 

Ift FX2 99X0 

US7IU-1I 9*41 HXO 
8ft 21-11 Ual9JS 
r* 22-01 *2X0 9400 
ift 04-12*091 wan. 
8% ■ ??J6 inn 

8ft 24X1 *9X7 *9.97 
Bft 15X1 H0151B02S 
0*3 3N12 IDOllOail 
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8ft 1M2 100571011*7 
8% - 99.15 *960 

Sft 29-11 101 00101® 
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Inner /Mat. 

Gt western 92/95 

GrlndJow« 

Grlndlavs9« 

Gt Western B9/W 
Hill Samuel 94 
Hill Samuel Peru 
Hlsuano 91/95 •- • 
HBomeadS+LOSCan 
Hong Kona Peru 
Hk Shanghai BkPerp 
Hydro ElMtalyJ 
Hydro 85 flWtlly) 

Id 91 

HXkUHX95d» 

Indonesia Blfl3 

iMNovn 

IrekmdM/f* 

Ireland 97 
ireknd94 
isveinterD 
I Ml over 92 
Italy *9 
llalr 19/94 
Italy 05 
C I Mi 87 
Jp Morgan *7 
KopFeMI 
KemlraOy*5 
KleinwrtBenPl 
Klekmarr Ben *4 

Klefenrart Bwi Pen, 
Korea Dev Bk 84/99 
Korea Exdi Bk 15/81 
Lincoln frH. 99 
LkmtsBkPers 
Ltovds Bank Pero 
Llovdin 
Uovds *7 
Uavdsta 
LlchBS 
Lid, *2 

Malaysia wn 
AlotaySa 0015 (Mtti) 
MaiavstoApr89/92 
Mamma DecB9/92 
Matovsia 88/93 
Malaysia 00/85 
Man Kan to 
Man Han 94 {WUyf 

Mar MW *4 
Mar MU 19 
MarMIdh 
Mcorn97(MDilv> 
Melina BOM 

MJOJafyl Bk Pem 

Midland Bk Pero New 
Midland In, 91 
Midland M If 
Midland im9i 
Midland Int 91 
MMiandlnie* . 

Mltoul F*nT7(Cat>] 
Mitsui Fin 94 
Man Grenfell *4 
Mtg BkD*n*2 
Nan 97 (Cap) 

Hal BkDetrWt*4 
Nat Comm Bk 19/91 
Nai weal Pero (A) 

Nat West Pens (8f 
Nat West FU*1 
Not West Fin 09 
Hal West Para (C) 

Noi West « 

Nal West Fin 92 
Hal Well Fin Pem 
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New Zealand 17 
Nr Steal Do* *2 
ttortic imii 
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Otfshare Minina 84 
Pirelli *1/94 
Pile 97 

PkaaokM B8/*1 
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Rente 91 
Pie 94 

Rea Bk Dallas *7 

Red Nr 07 

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Roe 05 

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Coupon Bed Bid ASM 

Aft 14-12 98X0 *9X0 
Bft 27X3 1003610046 
Sft 0X2 1B8JIM068 
Bft 34X3 7968 *9® 

Ift 27X2 100X0100.3; 
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Ift 1 3X1 9964 99.74 
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Issucr/Mot. 

Sonwa Int FkiU 
Sonwn im Fin to/04 
Sonwa Int Finn 
scandl Fin Aar93 
Scandi FlnDecXl 
ScoUmd int 92 
SecPocfRc97 
SecPadfleo! 
ShawmarCaraw 
SnefD . - 
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Stomfio 
tie Ini 91 
SocGtn 98/95 
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Sac GW 97 
Snehfl 
Spain 92/17 
Spafn05 (MltTh-l 
Spain 88/93 
Spain?* 

Stand Chari 94 
Stand Chart 91 
Stand Chart Maria 

Stood Chart Mismatch 

5W + CM Pare 
State Bklndu 07 
Sumitomo TM 92/to 
Sundsvafbtitmken92 
Sweden OO 
Sweden 90/0* 

Sweden *2/05 1 Mttl hr) 
Sweden!*/** 

Sweden 93/03 
-Sweden Fgrp 
Tahro Kobe 97 (Con) 
Tatra *2/W 
TdaiglD*2/94 
TakuilnCao97 
Takal Asia 94/99 
Tortamn 
TOW Tst 92(99 
Tra 14/04 
UbNanvavVI . 

Ub Norway** 

UM Kingdom «W92 
Wails Fargo Sant 97 
WelH Fargo-92 
Weill Fargo M 
Wells Fma Feb 97 
Wa*tpac97 ICan) 
WtnsGhn*! 

World BkPerp 
■World Bk 19/94 
Yokahama-fi/94 
Yokohama 97 (Cap) 
ZentralMassn 


Coapaa Next BM ASM 

Sft 2413 IN® 
lft 29Xt 1DJ510065 
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Ift 02X1 99® 9968 
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AakMttH6toSac93 
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Bk Montreal 94 

DkNavaScanaH 
Bk Tokyo OBftO 
Bq Indasupzit 
Betoulm*4 
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MfiSUdW 
Cltl cam 19/91 
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Cr Fandarao 
Cr National 91/95 
Denmark *3/11 

» XB ' S " 

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Ireland** 

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Yorkshire Int *1/94 


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lift 15X4 9*67 9967 
155 W® 100X0 

lift Wl 1102510035 
lift 27-12 M0 ®1 00 JO 
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}|ft 2-11 108.1410024 
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lift HX4 9VJ1 99® 

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lift 15-11 9*65 99® 

lift ai; iiazn 00® 

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lift 15X1 100.131M W . 

lift 14-11 >00681 U® 

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ideal for Pension Funds and other targe Groups 

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3. Total Management 

4. High Yearly Returns . 

5. Excellent Appreciation. 

Properties $3,000,000 end up 
Principals only please reply to: 

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5629 FM 1960 W„ 5qHe 210 
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uuu 























Blue Chips 


\6 p 


The Charge 

(Confined from Page 9) 

think \Cs likely to go down to the 
middle 1,300s by late November or 
early December." 

Oppeoheuner's Michael Metz 
pointed to the foxhole-mentality 
plans for capital spending in 1986 
as evidence that business will re- 
main slow. But citing the market’s 
reputation as a leading indicator, 
he allowed: “Ft’s an open question 
whether this rally is a fluke or pre- 
sages an upturn in the economy.” 

He sides with toe former intelli- 
gence, saying, “I'd be .inclined to 
sell here." He think s the market 
probably is just responding to the 
big money-supply increase appro- 
priated by the Federal Reserve; 

However, Martin Zweig, editor 
of Zweig Forecast, likes Wall 

Street’s strategic position, 

"Conditions are very bullish,” he 
asserted. “Real proof of the bull's 
staying power hare will come in the 
Erst big sett-off, say an 8- to 12 - 
point drop. And then if the rally 
can keep going on heavier volume, 
toe rest of the day, h would bie a. 
very big plus." 

Still on toe defensive is Stan 
Weinstein, editor of The Profes- 
sional Tape Reader. He thinks a 
retreat of 30 or 40 points might be 
developing for the Dow, although 
“another stab on the upside should 
coincide with the usual year-end 
ratty." 

Troubling to him is the fact that 
the advance / decline line still has 
not confirmed toe Dow record 
high. He warns that such diver- 
gences better be cleared up by the 
new’ year or a ‘junior bear market 
could occur.” 

Two groups he likes that haven’t 
had moves are stock brokers and 
mobOe homes. He also thinks there 
is more territory for computer ser- 
vices, as well as savings and loans. 

But sectors to sett, he said, are 
aerospace, auto parts, casinos, cop- 
pers, gold, hospital management 
and machine tools. 


■ T--;;’,.-- . . INTERNATIONAL HERALD TRIBUNE, THURSDAY, .NOVEMBER 14, 1985 W . * . J 15 

■ • - ' . . rrn p . %/r T u CURRENCY MARKETS I tV-M ^ JS~ 

Japmme Agency Predicts Decrease The Big Mae Is MoVUlg 

in Capital Spendmgmfmai Quarter Inf# the Mexican Market J 3 ? 311 Bank Vows More Intervention 


TOKYO 1 — Japan's Economic Planning Agency predicts that 
corporate capital spending will fall 12 percent in toe final quarter of 
the ! 985-86 fiscal year, compared with a 0.6-perccnt drop in the last 
year’s final quarter. 

The estimate for corporate capital spending for the current quarter 
is a 22-percent increase. 

Hie EPA’s survey for toe period ending March 31, 1986, covered 
4,029 private companies, each capitalized at more than 100 million 
yai($485jOQO) : 

Over toe periods surveyed toe EPA said, spending by manufactur- 
ing industries wttl Tall 1,4 percent, compared, with a 23-percem 
increase in the 1984-85 final quarter and an estimated 03-percent 
: increase in toe current quarter. 

Spending in nomnanufacturing industries will fall 0.9 percent in toe 
. March- quarter, compared with a 3.4-percent nw 3 ya % > a year earlier 
and ah estimated 3.6-percent decrease in the current quarter, the EPA 
said. 

- But spending in nonmanufacturing industries, excluding the elec- 
tric-power industry, will rise 4.4 percent, against a 33-pacem rise a 
year earlier and an estimated 1.2-percent drop in toe current quarter, 
it said. 

EPA also revised upward its projection for total corporate capital 
investment in 1985-86 to 23.733 trillion yen, an 82-percent riselrom 
21.928 trillion yen in 1984-85, when it rose 1 1.6 percent. It previously 
had predicted growth in toe 1985-86 fiscal year to 22.750 trillion yen. 


Company Results 

Revenue am) profits or.losses. In millions, ore In locol currencies 
unless otherwise indicated. 


Britain 

Ultramar 

MOttr-. 19*5 1M4 

RtMAM - snj 6V&B 

Proto Profit 675 S\J 
Pee snare 0063 DH61 

Britata/Nelh. 

Unilever 

3rd Quor. W*5 1984 

Revenue- — iwo. 

Proto Prom 265J1 2450 

Per Shore A. 0-35 OJMl 

Par Shares. 904 util 
* Moans IW 1984 

Revenue - 1 x 73 a n.na 

Pretax Profll 749.0 71 in 

Per Share A- 0.934a a«a 
Per Shares. 36 M 7333 
A: nor shore results of l/ntt- 
everPLC. In sterUno: B: per 
share results of Unilever UV. 
In guilders. Ml other mutts 
msfertme. . 


St. Lawrence Cement 


MOaor. 

1985 

1986 

Revenue 

ion 

1275 

Profit* 

165 

12.1 

Par Snare 

1.96 

208 

* Moottu 

1985 

1984 

Raven ue— 

31X6 

2405 

Profit - ... 

207 

10.1 

Par Share— i 

247 

Ml 


Canadian Pacific - 

MQaar. 79*5 19*4 

Revenue— X6?a 3700 . 

Profits 519 12976 

Per Share — 025 tun 

9 Month* IMS in* 

Revenue 11240. tasaa 

Profit 19SJ 2607 

Per Shore _ On tjn 


VMltriStates . 

Anderson Clayton 
U1 floor. ins 19*4 

Revenue 3703 4447 

Net Inc. 298 1.97 

Per Share. . 024 016 


Becton Dickinson 
antOuar. ins in* 

Revenue 3159 3052 

Net Inc. 2SJ9 22.15 

Per Shore — 137 i» 

Year ins 1984 

Revenue. 1.140 1,130 

Net Inc. BOO 614 

Per Shore <20 303 

Black & Decker 

4th Qear. ■ ■ 19*5 1984 

Revenue __ 450 482.9 

Net Inc. (a 11950 ms 

Per Shore — art 


Year 19*3 1984 

Revenue 1730 1530 

Net Inc. (0)1584 954 

Per Share — ITS 

a: loss. MB net losses Include 
after. tax charpe oi S194300 in 
auarter ond sztAOOO In veor 
far resrructvrtno. 

CBS 

3rd Quor. 1985 19*4 

Revenue 1,130 1JM0 

Met Inc. (o)1Kl 401 

Per Share— — \M 
9 Meettts 1985 1984 

Revenue X4io urn 

Net Inc. (0)201 170 

Per snore — 573 

o: tost. UBS Quarter Includes 
lass of 5547 a snare vs 34 
cents ashore from discontin- 
ued operations. 7«*5 * months 
includes tea of S4.I8 o snare 
vs 9S cents a snore from dis- 
continued operations, 19U f 
months Includes extraordi- 
nary gam of Jt cents O shore. 


Volkswagen 

3rd Quor. 19*5 19*4 

Profits 1410 1I5J 


• Months 
Revenue — 

Prom 

a: loss. 


ins 19*4 
30630 32.390 
424.0 laU7A 


(Continued from Page 9) 

* were predominately young and af- 
fluent and most spoke English. 

Presiding over toe grand opening 
of toe restaurant, which is situated 
along a major freeway in a wealthy 
suburb of Mexico City, was SauJ 
Kahan, who is 24. He won the com- 
petition two years ago when about 
500 applicants responded to Mc- 
Donald’s advertisements for part- 
ners. 

Under Mexican law. Mexicans 
must own a majority of an enter- 
prise . McDonald's ail] own 49 
percent of each of toe restaurants, 
in partnership with a Mexican who 
will receive up to a year of training 
at toe McDonald’s headquarters in 
Oak Brook- 

About a dozen semifinalists were 
interviewed, and each worked for a 
time in a McDonald's restaurant. 

“I wanted to do something, dif- 
ferent, something of my own,” said 
Mr. Kahan, toe eldest son of a 
Mexican family that has operated a 
large car dealership in Mexico City 
for 60 years. 

“My father gave me encourage- 
ment in this, but my grandfather 
didn’t understand at first," Mr. Ka- 
han said. “He wanted me to contin- 
ue the family tradition in toe auto- 
mobile dealership.’’ 

McDonald's required Mr. Ka- 
han, who bad been working in toe 
family business for six years, to sett 
all his stock in toe dealership and 
sever financial ties with it. They 
would not permit bis family to 
bankroll his business venture. 

“We wanted someone who 
would be devoted full time to his 
store and who would be willing to 
go through a training program for 
an entire year in the States," Mr. 
Flyim, toe McDonald's senior vice 
president, said. 

When McDonald’s first sought 
partnership applicants two years 
ago, those who responded were told 
they needed 5200,000 in cash. Mr. 
Kahan said that so far the first 
McDonald's had cost 400 million 
pesos, about 5815,000 at today's 
exchange rate, but about SI. 3 mil- 


lion at the dottar-peso exchange 
rate that prevailed earlier this year. 
Of that sum. be had to put up 51 
percent. 

Mr. Kahan went to Illinois for 
training more than a year ago. In 
recent months, nearly two dozen of 
his employees spent periods of a 
few weeks to many months also 
training at McDonald's corporate 
facilities. 

The most difficult problem fac- 
ing Mr. Kahan was obtaining sup- 
plies in Mexico tost exactly dupli- 
cated the taste and quality of a 
McDonald's hamburger. Under 
Mexican regulations, a business 
such as a restaurant must obtain its 
raw materials within the country. 

“Everything you see here today 
was manufactured within Mexico." 
said Mike Brito, head of Latin 
American purchasing for McDon- 
ald’s. The typical McDonald's 
signs, playground equipment, 
counters, food trays and toe “Auto- 
Mac" drive-through service ma- 
chine could not be imported. 

Maintaining toe quality* of milk 
shakes was easy, be said. They had 
no trouble in finding suitable dairy 
product suppliers. The hamburger 
comes from a group of cattlemen 
who provide toe correct mix of 
grain and grass-fed beef. 

Potatoes were toe most difficult 
item, he said. They are coming 
from several regions of Mexico, 
and McDonald’s has been giving 
toe fanners technical assistance. 

But because of questions about 
the quality, along with the certainty 
of supplies, Mr. Brito said, Mc- 
Donald’s now was working with 
farmers in toe state of Sinaloa to 
import and plant russet potato 
seals from the United States. 

“We think that is the only way to 
be sure of our potato supply,” he 
said. 

Surveying the opening day 
crowd. Mr. Kahan agreed that toe 
throngs could be deceptive. “These 
are people who have money and 
know McDonald's," he said. “But 
we think we are competitive with 
other restaurants.'* 


Compiled hi Our Stuff From Dispatches 

LONDON — The head of the 
Bank of Japan said Wednesday 
that toe yen is still too weak anti 
promised further intervention in 
currency markets to help reduce 
Japan's huge trade surplus with toe 
United States and other trading 
partners. 

“It still cannot be said that toe 
yen’s exchange rate against toe dol- 
lar has settled at a high level, re- 
quiring continued efforts to attain 
the goal," Saroshi Sumita, governor 
of the nation’s central bank, said in 
a luncheon speech at the Japan 
National Press Gub in Tokyo. 

In line with an agreement by 
Japan, the United States. France, 
Britain and West Germany on 
Sept. 22, the Bank of Japan has 
intervened in foreign-exchange 
trading to help raise the yen and 
lower the value of toe dollar. 

The yen has risen about 18 per- 
cent against the dollar since SepL 


22 while toe Deutsche mark is op 9 
percent and the British pound by 3 
percent, he said. 

In Tokyo, toe yen strengthened 
to 204.65 to the dollar Wednesday 
from 205.90 on Tuesday. In later 
trading in London, the yen dosed 
at 204.10, up from the previous 
close of 205.62. 

Mi. Sumita, who said the central 
bank will continue to intervene in 
money markets, did not specify a 
target rate. But other Japanese fi- 
nance officials have said they want 
the yen to crest at 200 to toe dollar. 

In Europe, meanwhile, the dollar 
ended fractionally lower after drift- 
ing in dull trading ahead of U-S. 

economic figures scheduled for re- 
lease Thursday and Friday. Dealers 
said Mr. Simula's remarks had lit- 
tle effect on toe currency and that it 
remained underpinned at lower 
trading ranges by steady corporate 

demand. 

Most dealers agreed, however, 
that markets remain bearish on the 


currency’s prospects and tbar fore- 
casts of more sluggish U.S. eco- 
nomic data and the threat of cen- 
tral bank intervention is precluding 
any long positions. 

“This is not a market to lake 
strategic positions in," one dealer 
in London said. “Traders are going 
in and out of positions quickly to 
turn a quick profit,” 

In London, toe US. currency 
dosed at 2.6143 DM, liule changed 
from its opening 2.6140 but below 
its Tuesday close of 2.6210. The 
British pound closed at SI .4245, up 
from its opening SI.' 4 1 65 and Tues- 
day dose of SI. 4 125. 

In other European markets 
Wednesday, toe dollar was fixed in 
Frankfurt at 2.6107 DM. down 
from 2.6238 at Tuesday's fixing; at 
7.9520 French francs in Paris, 
down from 7.9970, and at 1.762.20 
lire in Milan, down from 1.77J.10. 

In Zurich, the dollar closed at 
11418 Swiss francs, down from 
2.1548 on Tuesday. {UP l, Reuters) 


THE EUROMARKETS 


Dollar-Straight Sector Slips From Day’s Highs 


By Christopher Pizzey 

Reuters 

LONDON — The dollar- 
straight sector of toe Eurobond 
market ended firmer Wednesday 
but off toe day’s highs, dealers said. 
Prices generally ended ft to ft point 
higher, having shown earlier gains 
of up to ft point, they added. 

Dealers marked up prices initial- 
ly following Tuesday's ratty on the 
U.S. credit markets, which took toe 
yield on the U.S. Treasury 30-year 
bond to 10 percent at one stage. 
But toe credit markets backed off 
on profit-taking during Wednesday 
afternoon and, consequently, 
prices in London slipped bade, 
dealers added. 

But. toe recent gains in toe Lon- 
don market have not tempted U.S. 
corporate borrowers to toe market 
since in most cases it remains 


cheaper for the companies to bor- 
row domestically. 

During the day. SBC Finance 
(Cayman Islands) Ltd. offered a 
$100- million warrant-bond issue 
due 1992 and priced at par. Each 
55,000 bond has 23 warrants at- 
tached that are exercisable into one 
bearer participation certificate of 
Swiss Rank Corp. 

Demand for the issue, which has 
a coupon of 5ft percent, was very 
strong and it closed at 104. The 
issue was launched at toe same time 
as a 200-million- Swiss -franc bond 
issue that also carries warrants into 
toe bank’s BPCs. 

Scandinavian Airline Systems is- 
sued a 5150-million straight that 
pays 10ft percent a year over 10 
years and was priced at par. The 
issue was lead by Morgan Guaran- 
ty Lid. and quoted at a discount of 


2, against the total 2 percent fees. 

Banque Nationale de Paris is- 
sued on its own behalf 51 DO million 
in five-year bonds at 100 V-i. War- 
rants are attached that are exercis- 
able into an identical non-cattable 
bond. The host bond is callable 
from 1988 and before then ii must 
be tendered when the warrants are 
exercised. After that, exercise will 
be in cash. The warrants have been 
fully p re-placed. Dealers said the 
issue was quoted well outside the 
total fees of IK percent. 

In toe rioating-raie-noie sector, 
toe Empire of America Federal 
Savings Bank issued S125 million 
in collateralized notes that pay ft 
point over toe six-monto London 
interbank offered rate. The largete- 
d/ registered 10-year issue was 
quoted inside toe 40-basis-poitu 
fees, at 99.76. 




































































S5«WSPSF5S3SSBB3» 



Pajre 16 


INTERNATIONAL HERALD TRIBINE. THURSDAY, NOVEMBER 14. 1985 



PEANUTS 



TO ME. BREAKFAST IS 
THE 0E5T TIME OF PAY 

ST 



EVEN tiJHEN YOU LIVE 

Alone on the pesert 


HjiV3waK f wwcs>j' 1 <*c<ii* «<e 



except ujhen a 
tumbleweep rolls 

THR0U6H YDUR PANCAKES- 


books 


BACK IN' THE WORLD 


Stories br Tobias Wolff. 221 pages. 2I5M 
Houghton Mifflin. 2 Park Street, Boston. 
Mass. 02108. 




BLONDIE 


SOLUTION TO PREVIOUS PUZZLE, page 15 


It/14. B5 


ACROSS 


1 Strain from 
pressure 
5 The Mounti es 
of Can. 

9 Suffixed 

14 " Desire," 

Stanwyck film 
!5 Out of the wind 

16 Thin and tail 

17 Seberg role: 
1957 

19 Shakespeare's 
"world’' 

20 Fleeces 

21 Phrased 

22 Scabbard 

24 Grassy plain in 
Venezuela 

26 Spruce 

27 Indian nurse 

28 Poet's foot 
32 Frequent 

Brennan role 
35 Supply with 
food 

37 Cartoonist 
Gardner 

38 Neither Dem. 
nor Rep. 

39 Miscellany 

40 Dr. J's league 

41 Altogether 
43 Took to task 

45 Grate 

46 Release 

48 Khartoum's 
river 

i iXeu ■ York 


49 Poker Flat 

creator 
51 Blake's 
"Gunsmoke" 
co-star 

53 Word of honor 
56 Hundred, to 
Hadrian 

58 Incomparable 

59 Lamarr role: 
1942 

62 Malayan 
mammal 
63 11 homo" 

64 Verilv 

65 Lift 

66 Provencal 
summers 

67 Accor 
Auberjonois 


DOWN 


1 Possesses 

2 High note 

3 K. Hepbum 
role: 1935 

4 Protective 

5 Javanese 
chief's title 

6 Jumbled mass 

7 Piddling 

8 Stylograph, e.g. 55 Lasso 

9 Pyromaniac’s 57 Suffix with 

crime insist 

10 World Series 59 Mark in 
winners: 1984 curling 

1 1 Word with pan 60 Urge 

or lock 61 Integer 

Timex edited In' Eugene Maleska. 


12 Advantage 

13 Stained 
18 Vietnam 

offensive 

21 Oahu maiden 

22 Noisy one at 3 
A.M. 

23 E. Waugh book 
25 Ritual wash 

basin 

27 Full of elan 

29 Russell role: 
1958 

30 Norm and and 
Mercer 

31 Epeeists 

33 Polynesian 
trees 

34 Guarantee 
36 Diner or 

sleeper 
42 Voiceless 
44 Ringed 
47 Boil down 

50 Vigilant 

51 Where the 
Amazon rises 

52 A.A.A. abbr. 

53 Horsd'oeuvre 

54 Kind of 
ligament 


DENNIS THE MENACE 



1 MUST BE IN GOOD SHAPE ! Ah' flAD 1 TJOhY 
HAVE VERT MANY MILES ON ME !* 


I THAT SCRAMBLED WORD GAME 
i« by Henri Arnold and Bab Lee 


Unscramble these tour Jumbles, 
one letter to each square, to form 
tour ordinary words. 


TOORB 


L 



PULIT 



□ZD 

□ 

□ 


RECLEY 

i u 


□ 

Ll 



TORbi 1 


U3I 

ZL 


THE SEffT WAV TO 
SETTER YO'JK LOT 
IS TO iTOTHlS. 


Now arrange the circled letters to 
form the surprise answer, as sug- 
gested by the above cartoon. 


”'* rmnrnn 


(Answers tomorrow) 

Yesterday's I Ju m N*s: DOWNY HAVOC CANDID OBLIGE 


Answer Whai scandal has to be— BAD TO BE GOOD 


WEATHER 


EUROPE 

HIGH 

LOW 


ASIA 

NIGH 

LOW 



C 

F 

c 

F 



C 

F 

C 

F 


Aloarve 

16 

AT 

9 

48 

tr 

Bangkok 

32 

90 

24 

75 

cl 

Amsterdam 

? 

48 

1 

34 

lr 

Beilina 

9 

48 

-2 

28 

tr 

Athens 

21 

70 

14 

57 

It 

Haag Kong 

26 

79 

20 

68 

a 

Barcelona 

14 

57 

6 

43 

tr 

Manila 

31 

U 

25 

77 

St 

BcKirtrde 

>6 

61 

3 

36 

tr 

New Delhi 

25 

77 

9 

48 

tr 

Berlin 

4 

39 

2 

36 

o 

Seoul 

4 

39 

0 

32 

fr 

Brussels 

6 

4J 

0 

32 

ct 

Shanghai 

14 

57 

7 

45 

lr 

Bucharest 

12 

54 

3 

37 

a 

Singapore 

30 

86 

24 

75 

sh 

audaaest 

r 

me 

41 

a 

32 

r 

Taipei 

23 

73 

20 

68 

o 

Copenhagen 

7 

45 

A 

39 

lr 

Tokyo 

19 

66 

9 

48 

tr 

Costa Del Sal 

10 

AH 

9 

48 

Cl 






Dublin 

9 

4A 

1 

34 

0 

AFRICA 






Edinburgh 

Florence 

Frankfurt 

Geneva 

Helsinki 

Istanbul 

Las Palmas 
Lisbon 

Louden 

5 

IS 

5 

1 

to 

• 

18 

It 

li 

6 

41 

w 

41 

37 

36 

64 

IS 

59 

43 

■ 4 

13 

■ 4 

1 

i 

11 

15 

ID 

-4 

25 

55 

25 

34 

34 

52 

59 

50 

25 

lr 

cl 

sw 

0 

el 

tr 

tr 

lr 

Algiers 

Calra 

Cape Taws 

Casablanca 

Harare 

Leges 

Nairobi 

Tunis 

21 

27 

JT 

21 

3 

30 

26 

2S 

70 

81 

88 

70 

68 

86 

T 9 

7 t 

13 

15 

17 

12 

12 

26 

II 

15 

55 

59 

63 

54 

54 

79 

S2 

59 

cl 

FT 

C» 

cl 

d 

cl 

d 

lr 

Madrid 

13 

55 

] 

37 

lr 

LATIN AMERICA 



Milan 

ID 

X 

1 

45 

Cl 



““ 1 

“ 



MOSCOW 

2 

36 

0 

32 

Sw 

Bnattas Aires 

28 

82 

19 

66 

et 

Munich 

1 

34 

■ 1 

30 

SY* 

Caracas 

28 

82 

30 

6B 

cl 

Nice 

13 

55 

e 

44 

tr 

Lima 

21 

70 

14 

57 

cl 

Osh 

4 

39 

-i 

30 

,r 

Mexico City 

26 

79 

10 

SO 

lr 

Paris 

7 

45 

2 

36 

lr 

Rio do Janeiro 

38 

85 

20 

68 

d 

Prague 

Reykiavlk 

0 

7 

32 

45 

-2 

1 

20 

34 

5W 

sw 

NORTH AMERICA 



Rome 

StockhcJm 

Strasbourg 

30 

3 

M 

37 

37 

18 

2 

- 1 

20 

30 

a 

Fr 

Anchorage 

Atlanta 

Boston 

-4 

26 

lo 

25 • 
79 
61 

-10 

16 

5 

14 

61 

41 

tr 

DC 

r 

Venice 

II 

52 

7 

4S 

0 

Chicago 

6 

43 

3 

37 

r 

Vienna 

1 

34 

0 

32 

r 

Denver 

-3 

27 

-S 

23 

P* 

Wo now 

3 

37 

-1 

X 

0 

Detroit 

15 

$9 

11 

52 

r 

Zurich 

0 

32 

-1 

30 

3W 

Honolulu 

20 

84 

20 

68 

tr 

MIDDLE EAST 




Houston 

29 

84 

22 

72 

cl 



— 




Los AnoelM 

19 

66 

5 

41 

fr 

Ankara 

14 

57 

3 

36 

ei 

Miami 

29 

84 

24 

75 

PC 

Beirut 

— 

— 

— 

— 

na 

Minneapolis 

1 

34 

-I 

30 

d 

Damascus 

22 

72 

3 

37 

tr 

Montreal 

0 

37 

-S 

23 

r 

Jerusalem 

23 

73 

9 

48 

tr 

Nassau 

29 

84 

23 

73 

tr 

Tef A*iy 

*2i 

77 

13 

55 

lr 

New York 

19 

66 

9 

48 

r 

OCEANIA 






San Frond sen 
Seattle 

16 

7 

61 

4S 

5 

-1 

41 

30 

tr 

If 

Auckland 

21 

70 

12 

54 

cl 

Toronto 

4 

39 

-2 

28 

r 

Sydney 

34 

7i 

(8 

64 

d 

Washington 

21 

70 

11 

52 

PC 

ci cioudv; fft-ioMv: ir-tolr: n-twil; 

^overcast; oc -corny cloudy; 

r-rnin; 


sh-shr.vers. sw-snow: ar-stcrmv. 


THURSDAYS FORECAST - CHANNEL: 5H0hl. PRANKPUHT: f 
Temp, t — t IJ9 — 3JI LONDON: C1*XW. TbiWP. 4 ~-2 [0 — 281. MADRID: 
Fair Temo. i5 — I <59 — J6I. NEW YORK: Portly dowdy. Tata* 15 — w 
1 5? — •$] PARIS: Cloudy Tamp. 4 — -6 (14 — 81. ROME: Cloudy. Temo 
2£— If (ta—srt. TEL AVtV: NA ZURICH: Clouttr. Jemo. 4— -4 «9—25). 
BANGKOK: Fair. reran. 31 — Jsiflfl — 7T1. HONG KONG: Cloudy. T»mp. IS — 21 
in — 70}. MANILA; Ffl.r. Temp. 71 - 34 (40 — 7SJ. SEOU L: Fair. Temp. 4—- . 
<J9 — 31. SINGAPORE: Showers. Temp. IS— 14 182 — 751. TOKYO: Fair. 
Temo IS — B 1*4 — 441, 



Reviewed by Jonathan. Penner 
rp OBIAS WOLFF knows a lot- He knows 
A about men and women and children, and 
about America in its variety. His people ^ 
kids, soldiers, wives, successful In business or 
failed in an. 1 They are devotees of love, of 
drugs, of technology. Wolff s taste for etpen- 
erice seems, as a'tnajor writer’s should seem, 


promiscuous. • 

All 10 of these stories are told in the uuni 


WIZARD of ID 


THl£ MAH VWAMT5 



r v/m a& hi& 
cNAuftcfinot&Fl 

K 



imzr&eiPetroFA e&nvm 
oonmy vwm 'We&fcfa ecu mf. 



REX MORGAN 


KAY WILL BE 


BACK IN ABOUT TEN MINUTES. 
MRS. WARREN * SHE CAME IN AT 
6=60 TO TAKE CARE OF A 
CUSTOMER AND THEN WENT 
OUT FOR SOME BREAKFAST/ 



YOU'RE THE ONLY 
ONE KAY WILL 
WORK ON TODAY/ 
SHE'S TAKING THE 
AFTERNOON OFF.' 


SHE DIDN'T SAY— BUT 
l THINK SHE'S MET 



person. This narrative mode permits an exten- 
or view of even the central figure, which seems 
lo be why Wolff employs iL He is disinclined to 
tell stories from the inside out, to present a 
world through the thoughts and feelings of a 
viewpoint character. 

Instead, Wolff tries to create windows on the 
soul through speech and action. In pure form, 
that is the way of drama.' In fiction it tends to 
be awkward, artificial, inefficiem and extraor- 
dinarily difficult. 

Yet at his best Wolff turns the handicap into 
an added grace, making- his method appear 
easy or even inevitable. The central character 

of "Coming Attractions." .15-yeatoId Jean, 
works in a movie theater. After closing up for 
the night, she is wailing alone for her boss to 
come and drive her home. 

We see inside her scarcely at alL But die 
pathos of her life; and the heroism with which 
she meets it, emerge through phone calls that 
we hear her make, followed by a series of 
inspired events. 

This story, like several others collected here, 
combines a traditional emphasis on character 
with a contemporary looseness of plot. There is 
no dear forward march, no resolution, no 
comes-io- realize. Helpless to change her cir- 
cumstances, Jean wages war within them. She 
is an existential heroine, who continues to act, 
no matter bow ineffectively or irrelevantly; and 
thus to be. At the end, though nothing has 
changed in her, something bos in us. 

“The Poor Are Always- With Us," another 
grand story, takes place among computer engi- 
neers in Silicon Valley. The milieu is authentic: 
protagonist and antagonist meet when they 
bring their Porsches in for servicing. The auda- 
cious plot turns on a wager, the consequences' 
of which chang e several lives. Here again, the 
inner world Is illuminated through word and 
deed. 

Other stories, less lustrous, shine in; places 
and parts. “The Missing Person", follows the 
trajectory of Father Leo. who longed to be a 
missionary in Alaska, as he s inks through level 
below level of a demeaning career. He is spiri- 
tual advisor to a gag gle of hip nuns — one a 
disc jockey — who call him “Padre" or just 
“Pod." Equally memorable is Krystal, the 
heroine of “Desert Breakdown, 1968," who 
loves the word “never” because it reminds her 
of Beethoven shaking his fist at the heavens. 

Still many of these stories do- not seem 
adequately lit. Collectively, they show' the lim- 
its of what exterior signs can teO us of people's 
brains and viscera. Only* a partial humanity 
percolates through action and speech. Not 
even a writer as good as Wolff can eschew “he 1 
thought" and “he felt" forever. 

One sometimes feels, eerily, that the charac- 
ters are aware of the reader's need for informa- . 
tion. A trirnes the ostensible viewpomLcharac: 


S3=v52E?%g 

response whatever to the overheard storj- Any 
Sion between it and his own story * 

^Leviathan," a close to generic stoty of four 
friends' gathering for cocaine and confers. 

tiM at the nadir of this collection- The anec- 

■ ■ £*3* « 

He ; 


and irrelevance — that oao menu 
chanical and the random that we embrace a* 
free wilL His decorative surfaces nun out to be 
weight-bearing. His details, innocently pjant- 
aTwrminaie, “Back in the World is a striking 
andan exciting collection by a writer unusually 
fine. 



t ? 


Jonathan Penner, author of the story collection 
“ Private Parties ” and the novel Going Blind, 
teaches fiction wiling, at the University of Arizo- 
na. He wrote this review for The Washington 
Post. 




Lautrec’s Printmaking 
In 1890s Featured by 
Museum of Modem Art 



/Vpk York. Times Service 

N EW YORK — The Museum of Modern 
Art is showing a survey of Henri de Tou- 
louse-Lautrec printmaking in. the 1890s. along 
with a few important paintings. 

Neither commercial art nor traditional “high 
art," Lautrec’s work was based on instanta- 
neous and often ephemeral contact between 
the artist and a large miscellaneous public. 
Posters, theater programs, book jackets all 
played their-parL Lautrec was also prominent 
among those who furthered the causeof die 
“original print" in the 1890s. thante in part to 
rapid and revolutionary te chnical advances. - 
Many of his images, endlessly travestied arid 
banalized, long ago lost their initial freshness, 
going farther and farther do wnhill as the basic 
idea turned up on postcards, I G-centreprod no- 
tions, placemats, cheap tin trays. 

A print dealer from DOssddorf, Wolfgang 
Wittrock, approached the MOMA in 1980 al- 
ter having occasion to study unblemished ex- 
amples of prints that gave bkn-a new idea of 
the sensitivity of Lautrec’s procedures. With 
the cooperation of Herbert D. Schimxnd, the 
New York collector whose holdings of Lautrec 
have no rival, in private hands, and museums 
and other private collectors, the visitor can 
take a fresh look at Lautrec’s work. 

Riva Castleman, the museum’s director of 
prints and illustrated bodes, coordinated the 
exhibition, which numbers more than 306 
items and can be seen through Jan. 26. The 
catalog costs $60 in hardback, published by the 
New- York .Graphic Society, and $22.: 

. paperiwck-at-the-siuseuiEb 


f* T !«' 


haul 


■ .-dftm 
•.i t»-$m 




iaA dm 
u.-vm-m 






in 


HBOAR& 



mi ■*?' 


BRIDGE 


L> 


By Alan Truscocr 


GARFIELD 


I FOUND A FOOD THAT EVEN 
MOO WONT BE ABLE TO PLA 1 


WITH. GARFIE 


OftA CttVTS 


A5 LONG A5 I LIVE, I'LL NEVER 



O N the diagramed deal 
West opened one no- 
trump, showing in his style 13- 
17 high -card points. His part- 
ner could not afford "to 
respond, and 10 tricks were 
made for a score of 180 after a 
favorable heart lead. . • 
North-South now reached 
three no-trump, but it was not 
dear that the contract would 
succeed for the opening lead 
was crucial. 

The opening bid was one 
club, strong and artificial and 
the response was a negative 
one diamond. 

If North had rebid one no- 


trump, he would have been the 
declarer and would probably 
have received the same helpful: 
heart lead. Instead he, bid one 
spade: • 

If South had now bid his 
dubs, a rebid erf two no-trump 
by North would no doubt have 
led to a North-South victory. 
But the two no-trump bid 
made South the declarer, and 
West wasin a position to lead a 
diamond. 


tract was unmakable and he 
failed by two tricks. 


WEST 

♦ A85 

«8«3 

* X8SS 

*7« J 


NORTH CD) 
<* 1097B4 
AK4 
» J W 
* AKQ 



EAST 
* K J 3 2. 
•V Q 9.7 I 
•V 072 
AS 1 


His partner. East, played the 
diamond queen, on dununy^s . 
ten. This drove the ace of dia- 
monds a vital entry, out to the 
closed hand. South was now . 
cut off from his dubs, the cod- 


south 

*’ J 10 5 
0 A843 
* J 10 9 8 4 


"•lutfc. 


5auai "™ vufewrabte. 

TBe bidding; , 

NRHfc Ea« t Sooth 

1 * Pass is' 

1 *- Pass 2 n.T 

3 N.T. Pass 

West led the diamond fWe. 


West 

Pass 

Pass 

Pass- 



Wwrld Stock Markets 


Via Agence France- Presse A or. 13 

.dosing prices in Un al aurmciet unless otherwise indicated. 


A8N 

ACP HOkBlW 

AEGON 

AKZO 

Ahold 

AMEV 

A"Dotn Rubber 
Amro Bonk 
BVG 

Bueftrmonn T 

Calond Hhhs 

ElMvtar-NDU 

FohAer 

Gist Brocodes 

Halnefcan 

Hooeovens 

KLM 

Noordm 

Nat Nedder 

Nedllovd 

Oco Vander G 

PQKhoed 

Philips 

Robeco 

Rod a mc o 

RcHlnco 
Roranto 
Roval Dutch 
Uni lever 
Van Ommeren 
VM F Stork 
VNU 


Close Prr». 

548 SSO 
74 Sl 5B 2S0 
>11 111 
131 JO 131 JO 
73JU- 28&5Q 
7V 7BJD 
VJS 9 JO 

99 JO 100 
229 228J0 
I19J0 131.50 
28.10 28 
151 15050 
80-53 7950 

244J0 244J0 
193J0 192J0 
75 75J0 
50J0 50 JO 

58 5750 

B2J0 82.80 
IBS 187 
J70J0 Ja9 
79 7? 

5190 5160 

SOJO BO JO 
13560 115-38 
7260 77.90 

47 JO 47 JO 
183J0 18X40 
366JD 307JO 
2S 10 28.40 

24430 245 

255 258 


ANP.CBS Gem Index : 23X10 
Previous : 23X50 
- Slack Jp 6l 


feinwh 


ArM 
Belioort 
Cock win 
Cobeoa 
EBES 

GB-Innp-BM 

GBL 

Gevaen 

Habohen 

Inter com 

Kraaietbank 

PehnoHna 

Soc Genera >e 

Satina 

Soivav 

Traction Elec 

UCB 

unerg 

Vleille Montapne 


2900 28«0 
B«KJ 85M 
212 213 

4420 4475 
3805 3800 
S34Q 5290 

3695 2645 
<SS35 4700 
5800 5890 
2900 2930 
12000 12000 
7000 6950 
2400 2350 
8500 8250 
5820 5840 
5018 4700 
5350 5250 
Z1SS 2100 
5500 5*70 


Close Prev 


Hochtief 

Haectiit 

Hoesdi 

Horten 

Hussel 

IWKA 

Kali + Soiz 

Karxtodt 

Kauffiol 

KlaKknor H-0 

Klcecfcner Werke 

Krupp Srohl 

Linde 

Lutthunso 

WAN 

Mamesmann 
Muencft Ruech 
Niiutorf 
PKI 

Porsche 

Prewoas 

PWA 

RWE 

Rholnmetall 

5cherlno 

SEL 

Siemens 

Th/ssen 

veba 

Volkswapenwerh 
Wei la 


770 770 

24B 250 

165 167 

306 20B 

368 363 

325 310 

331 331 

270 289 

317 31980 

334 338 
9<S 

175 178 

587 582 

219 218 

335 200 
Jm 260 80 

2200 2220 

561 567 

NA — 
1245 1245 

an 25* 

161 J0 164.90 

an sol jo 

406 490 

642 648 

347 345 

654 660 

175 177 JO 
270 271 JO 
415 4TAJD 
640 636 


Commerzbank index : I742JM 
Previous ; 176050 


| H— gltopg [ 


Bk East Asia 
Cneune Kong 
China Light 
Green Island 
Hano Sena Bank 
Henderaon 


Currant Slot* Index : 289571 
Previous : 2U7J» 


FriuiUnn 


AEG-Tnhrfunkon 

Allianz Uers 

Altana 

BASF 

Boyer 

Bov Hypo Bank 
Bay Vereinibank 
BBC 

BHF-Bank 

BMW 

Commenbank 
Cant Gum ml 
DanYkt6f-Be*E 
Deau ran 

Deutsche Babcock 
□euHctie Bank 
□resaner Ban! 
GHH 
Harcener 


226 23620 
1749 1780 
415 425 

26050 258 

253 252 

447 444 

435 438 

289 29X50 
427 431 

603 551 
26X50 267 JO 
161J0 163.10 
1280 1230 
447 450 

21« 225 
T.l 717 
5375014280 
220 221 
351 352 


China Gas 
HK Electric 
HK Realty A 
HK Hotels 
HK Land 
HKShano Bank 
HK Teiwiww 
HK Voumatel 
HK Whorl 
Hutch wnampoo 
Hvsan 
inri Cltv 
iordhie 
JardlneSec 

ijwtoon Motor 

Miramar Hotel 
New World 
SHK Proos 
Stelue 

Swire Pacific A 
Tal Cheung 
Wah Knong 
wing On Co 
Wlnsor 

worm mri 


13 2X80 
2080 TOM 
18 17J0 
8J5 6.25 

4625 46 

7-275 1275 
1180 1 270 
865 &W 
i3J8 mo 
3450 34 

6.95 645 
780 7.75 

9.90 980 
X775 3825 
780 750 
27.70 27 JO 
0J3 0A1 

a.w aw 

1150 I3J3 
1160 1580 
1080 1050 
4670 4550 
850 045 

1140 13.10 
2JC 120 
?».M 28 90 
115 110 
082 083 
1.79 1J5 
5 S 
1425 235 


GFSA 
Harmony 
Hiveld Sleet 
Kloof 

rjedtxjnk 

Pres Stevn 
Rusuhrl 
SA Brews 
St Helena 
Sasoi 

west Holding 


3575 3525 
3075 3100 
610 610 
2450 2425 
890 890 

6725 6675 
2390 2390 
6W 675 
4250 4200 
845 865 

7750 7550 


Composite Stock 
Previous : NA 


Index: 121480 


London 


AA Coro 
AlllecM.vans 


Anglo Am Gold Saiv, 


ASS Bril Foods 

Ass Dairies 

Bcrdavs 

Boss 

BAT. 

Beectiam 

BICC 

BL 

Blue Orel* 
BOC Group 
Boats 

Bawaler Indus 
BP 

Brit Home SI 
Brit Telecom 
Brit Aeracoace 
Brlloll 
BTR 
Bur mat) 

Cable Wireless 
Cadbury Schw 
C3iorter Cons 
Commercial U 
Cons Gold 


264 

1M 

457 

649 

301 

293 


S10 

283 

S58 

264 

157 


31 

575 

298 

226 

311 

550 

Sis 

193 


210 

386 

296 

630 

148 

518 

253 

499 


647 

2*8 

286 

233 

29 

570 

29S 

220 

311 

SSI 

320 

192 

445 

208 

380 


425 

146 

215 

253 

W 


Close Pmv. 


Shell 

STC 

Sta Chartered 
Sun Alliance 
Tote and Lvie 
Tesco 
Thorn EMI 
T.l. Group 
Trafalgar Hse 
THF 

Ultramar 
Unilever c 
united Biscuits 
Vickers 
Wool worth 


60S 

665 

B0 

82 

472 

467 

548 

538 

5« 

54 

295 

295 

407 

384 

417 

413 

372 

368 

tsa 

147 

211 

713 

121145/64 

213 

205 

303 

305 

591 

588 


F-T. so Index: ... 
Previous : 187480 
P.T8.E.180 Index 
Previous : 138180 


Milam 


Banos Comm 

CluatK.lrts 

Cred »ol 

Erldanla 

Formlialla 

Fiat 

Generali 

IFI 

Ihncenumtl 

liatoas 

ttalinaCilllorl 

Mediobanca 

Montedison 

NBA 

onvein 

Pirelli 

RAS 

Rinascente 

5IP 

SME 

Sola 

Sianda 

s«ei 


24050 24050 
12000 11750 
3164 3135 

11650 11750 

13850 13749 
4630 4600 
63*20 63600 

11950 11980 

48625 49O00 
2026 2025 
1 36100 1 35300 

123800123700 

2340 2340 
3*20 3585 
7399 7340 

3510 3438 
118300118800 
90480 980 

2647 2615 

1290 1287 

4564 4467 
15000 14590 
3600 3560 


MIB Current Index ; 1775 
Previous : 17M 


Paris 


Haag Seng Index : 1H7.1B 
Prey loos : 1730.15 


| ilehmimewbur^" 


AECI 

Anglo American 
Anglo Am Gold 
Barlows 
Blvvoar 
But Fels 
De Beers 
Drietonrein 
Elands 


Court au US 

169 

168 


589 


Daigety 


440 

Alstnom An. 


Oe Beers* 

425 

410 

Av Oossaail 

1220 

1740 

Disinters 

476 

443 

Banco ire 

731 

743 

Driefantetn 

5T5 1 * 

STSto 

BIC 

489 

477 

Flsons 

426 

411 

Bongrain 

1580 

1540 

Free 51 Ged 

saarrt 

SW* 

BourguM 

615 

800 

GEC 



OSN-GD 

2410 


Gen Accident 

720 

no 

Carretour 

2590 

1530 

GKn 

256 

256 

Chargeurs 

774 

725 


535/64 

15 9/32 

OuB Med 

467 

462 

Grand Met 

370 

365 

Dcrty 

1750 

1740 

GRE 

741 

725 

Du mol 

EOS 

795 

Guinness 

320 

316 

Elf-Awl tuinc 

197 

m 

GUS 

965 

960 

Eurooe 1 

855 

339 


220 

220 


70S 


Hawker 

429 

425 

Hacftaftg 

1419 

1418 

ICI 

700 

677 

Lafarge Coo 

607 

m 

imperial Grouc 

216 

21S 

Lew and 

2298 

2298 

Jaguar 

327 

327 

Lestcur 

751 

7SS 

Land Securities 

374 

320 

I'Oraai 

2545 

2448 

Legal General 

TIT 

712 

Marten 

1403 

1445 

Uov<ls Bonk 

532 

489 

Motrd 

1452 

1438 

Loruhe 

167 

U6 

Merlin 

2280 

2260 

LuaK 

4175 

463 

Michelln 

1290 

1265 

Marks and 5o 

103 

179 

Mset Hanmnsv 

2005 

2040 

Meta i Bo* 

543 

546 

ftteulinex 

4200 

62.90 

Midland Bank 

454 

452 

Ocdderrtoie 

70S 

08 

Not West Bank 

704 

497 

Pernod Rie 

730 

744 

PandO 

433 

428 

Perrier 

45X50 

456 

Ptikingtan 

208 

205 

Feugetrt 

408 

406 


Ptessev 
Prudential 
Rocol Elect 


140 

742 

136 


138 

734 

138 


*10 

720 

Randtanteih 

871ft 

86® 

3350 


Rank 

467 

474 

r050ff 7Q4® 

Reed Inti 

679 

669 

*2W 

1200 

Reuters 

335 

33S 

16/5 

1650 

Roval Oulcn c 

43 61.-6443 SI 1 64 

TWO 

7773 

RTZ 

537 

534 

1430 

1440 

Saotehi 

760 

755 

5423 

54» 

Sainssarv 

363 

3M 

(700 

'700 

Sews Mowing* 

111 

I'O 


Pni wctnps 
RcnDotechn 
ReoouK 
Roussel uciot 
Sanofl 

Skis fiosslgnat 
TMemecon 
Thomson CSF 
TaloJ 


321 32X50 
360 150 

1729 1680 

1550 1540 

*30 430 

1380 1380 
3605 2590 
630 610 

25X20 25380 


CAC Index : 23184 
Previous : 23020 


1 

CUM 

Prev. 

1! 1 

Cold Storage 

3J2 

3J0 

DBS 

X10 

XI0 

Fraser Neave 

6J70 

6-65 

Haw Par 

219 

119 


217 

21/ 

s«il aonkliro 

N.O. 

5J0 

OCBC 

270 

865 

OUB 

288 

290 

DUE 

230 

N.Q. 

Shangri-la 

2T4 

211 

Hme Darby 

V66 

1 Jfi 

STpore Land 

259 

276 

S'oora Press 

6J5 

680 

S Steamship 

087 

887 

St Trading 

296 

298 

United Overseas 

1J9 

138 

UOB 

172 

172 

1 Straits Timet Ind index : 

H4M 

| Previous : 771 JM 



It StorfchihH i 

AGA 



Alia Laval 

245 


ASM 

305 


Astro 

500 


Atlas Copco 

uo 

141 

Bollden 



Electrolux 



Ericsson 



Essaile 

390 

N.Q 

Handel sbanken 

206 


Pharmacia 

m 


Saab- Scon la 

40Q 

485 

Sandvlk 



Skanska 


98 

SKF 

261 

758 

SwedlshMatcn 

224 

226 

Volvo 

240 

243 


Provisos : 417.46 



1 s y 1 

ACI 

295 

195 

ANZ 

4.9* 

4.95 

BHP 

BJ6 

9.18 

Borci 

120 

3 .72 

Bougainville 

. 1.94 

155 

Cosherne ine 

< 


Coles 

AM 

410 


UW 

130 

CRA 

X36 

SM 

CSR 

338 

150 

Dun log 

262 

260 

Eldars Ixl 

190 

39) 

■Cl Ausiralia 

225 

235 

Mawfkm 

220 

225 

MIM 

247 

248 

Mver 

XSS 

155 

Nat Awst Bonk 

485 

435 

News Corn 

L» 

UO 


.232 

130 

POftldMI 

150 

335 

Old Coal Trust 

131 

132 

Santas 

X42 

SM 

Thomas Nallon 

240 

242 

Waalara Mining 

3J7 

338 

Weslnae Banking 

4J5 

485 

wnoaside 

1J9 

1A0 

Alt Ordinaries inoex ; tttajo 

Frkrhm : 193344 


■' 

{ Takym f 


A>Qt 

371 

■ 31* 

AsahlChem 

B2D 

7*3 

AsaM Gftu 

' 860 

852 

BChk m To*. VO 

Ta- 

730 

frldgcstane 

sso 

» 

Canon 

1030 

1050 

Casio ‘ 

1740 

1730 

C.ltoh 

414 

420 

Dri hImxui Print 

1160 

1170 

Dahvo House 

>74 

BB1 

Daiwa Securities 

780 

788 

Fanuc 

7250 

7630 

Full Bank 

1460 

1480 


Close Prev. 


Full Photo 
Pal mu 
Hitachi 
HUochl Cable 
Honda 

Jopan Air Lines 
Koillnia 
Konial Power 
Kawasaki SteH 
Kirin Brewery 
Komatsu 
Kubota 
Kvocera 

Matsu Elec tnas - 
Mntsu Elec Works 
Mitsubishi Bank 
Mitsubishi Cheat 
Mitsubishi Elec 
Mitsubishi Heaw 
Mitsubishi Corp . 

Mitsui ana Cu 
Mllsukashl 
Mitsumi 
NEC 

NGK Insulators 
Nlkfco£ec 
Nippon Koaaku 
Nippon Otl 
Nippon Steel 
Nippon Yusen 
Nkwxi 
Nomura Sec 
Oivmnus 
Pioneer 
Ricoh 
Shan 
Shlmazu 

Stibfetsu Chemical 
Sony 

Sumitomo Bank 
Sumitomo Chem 
Sumitomo Marine 
Sumitomo Metal 
Tafcset carp 
Toisho Marine 
Takeda Chem 
TDK 
Telito 

Tov.lo Marine 
Takva Elec. Power 2290 3330 

Tosaan Prmtln* BBS (84 

Torov I no 521 nt 

Toshiba 251 354 

Toyota . 1110 HU 

Yomtdcnt sec 718 7ie 


937 
687 

6S5 — 

1138 1150 
6270 6280 
477 494 

1840 1870 
138 137 

755 770 

500 514 

351 352 

3850 3970 
inn ii50 
900 - 898 
1460 1470 

511. 500 

337 335 

354 354 

598 598 

418 417 

615 - 606 
710 716 

1120 1108 
866 870 

-760 751 

845 

775 701 

ISS 159 
348 353 

SBO 578 
1040 1050 
980 985 

1560 1570. 

ioso iDso 

816 815 

801 SIS 
760 769 

3720 3760 
1680 1670 
249 247 

TIB 723 
140 141 

333 330 

571 584 

893 889 d 

3910 3930* 
502 m 
950 957 


’ - 


Totobm 

Noe . 12 


Nikkei/DJ. Index : 1271X29 
Prev toes : 1273X01 
New index : 1*88.19 
Previous : 1004 js 


Zurich 


Aata 

AtosuUae 
Autoahan 
Bonk Leu 
Brawn Severl 
CSba Ceigy 
Credit Suisie 
Electrewatt 
HOMercank 
interdfscount 
Jacob Suctera 
Jelmgll 
uuiaisOvr 
Moevwipick 
Neatte •... 

Oerllkoo-B 

Roche Baby 
Sanaaz 
Schindler 
Saber 
Surveftienee 
Swbwir . 
SBC 


4500 4575 
705 704 

6180 6300 
4100 4175 
1870 1875 
3605 3630 
SZHJ 3285 
-3360 3390 
N.Q. - 
3330 3370 
764Q 7675 
3380 3325 
2241 2260 
3000 5080 
BK» 8100 
1440 1450 
11150 11300 
1600 1«40 
4590 


4800 4835 
1555 15B0 
.509 513 


Swiss Reinsurnnce 2*25 3450 
Swiss VbJXsoank 2290 2330 
U man Bank 
Wlmerrtwr 
Zorich Ins 


4770 

5625 5650 
2425 2530 


SBC Index: KUO 
Previous : SiSM 


N.a. aof quoted: na; nor 
avaiKiMe: *d: ex-dtvkJend, 


Canadian stocks da AP 
Safes Stock High Low Close Chg. 


B837 Abtt Pree 
500 Aonico E 
_ TOOAoro Ind A 
26294 All Energy 
17611 Alta Nat 

*88 AST?* 

1 SSMS*’ 

6700 B dto tl | A f^ 
too Brenda M 

’|pr 

mCNWWta 

83216 Cl Bk Com 
7S409 CTIre A I . 

1600 C Util B 
300 Cara 
4295Ceione« 

100 Ceton i7Sp 
2900ContriTr 
18700 Clnepftx 
2200 C Dtsfb A 
5100 CDCsltJ B f 
5925 CTL Bonk, “ 
lOOCortweel A 
4MPCosefcaR 
2700 Cannon A 

,17000 Czar Rea 
499100 Doon Dev 
JW0DWHA • 

5718 Denison Ap 
4840DertxunBf 
teODeVefcon 
1100 DIcknsn'A f 
_ lOODicknsn B 
21944 DoffflSEO' 

9150 Du Pont A 
*5«MDyiexA 
TOOEhdhomX . 

72S8 Em CO 
21370 Edditv&wr 
1430 FCA Ind 
MCFdmC . 

*3ra Ftotbrdg* 

4450 Fed Ind A 
37MF City Fin 

,lMS®«WtoA 
, 16300 Goac Comp 
’^Cwo-udo 
1000 Gibraltar 
OWCdidcontr 
v M0 Goodyear 
1400 Graft G 
MJOOGLFtorasf 
soo Gray hnd 
12 H Group A 

WEHOYWD 

-'ES - 

5SS i^PiiSlSS* SSt i24v5 
,8120 Inland Gas 
Mriiooinn Thom 
14617 mtnr Ptoe 

5000 Ivaco B 
71675 Jonnock 
7 a Kerr Add 
TOO Laban 
niaoujnt Cem 
**9g Locpno • 

9498 Ut Wow Co 
•4*55 LumorVci 
600MDSH A 
tin MICC 


8178k ITVk 17W— U 
S19to 19 19 — to 

Mb BIB 

H7W 174* 171k 
*148* 14U 14*i + V* 
*19 19 19 

*109S lDVj lBVr-t- VS 
S31V* 311* sm+.v* 
*5 4*5 5. 

*14 1314 138*— I* 

184 177 177 — 6 

*1914 1914 1914 
385 37S 37S — 5 

395 385 ' 385 

SIM 16)4 16)4 
MVS 8 Vs Wi 
MU 914 914— V* 

3W m 2D7 

S26t* 254* 261* 4- )* 
*124* 12)* 124* 

. *30*4 30 30 — 14 

JIM* 16H 1646-i-t* 
JIB* 154* in* 4- H 

sr s* if-" 

^44 a44 +tt 

*34 34 34 — . V* 

M3Hi 4311 . 439*— 16 
*10 10 10- 

*411* 61V* 614*— U* 
MW «’-* 40»*+ t* 
*914 9. 9 — to 

S1« 181* 19 + to 

SU4* 164* 169* 

*914 9to 914 
*1944 1944 1994 
*1444 144* 144* 

S9to 9. 9 — 1* 

*64* 6* 64* 

.*5- M 
J* w 

*74* nt 74*+ l* 
270 266 270 + 3 

SIM* 1 144* 14V*— I* 
*»>* 22to 22to+4* 
ffl6 m 236 - 2 

490 473 480 

435 435 435 +5 

SIM 13ft 13*,+ ic. 
*U .129* 13 + to 

«* -.M* 51*- ft 

*Of, 64* «*— V* 

*64* 64* A)*— li 

S*4r 2W 2616+ « 
*17)* 1716 17V. — 4* 
KSV4. 25 2SV*-to 
J3?i 1434+ 8* 

*32(4 » 22 + to' 

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S21 21 ' 21 + V* 

I3to Tito+S 
S2b 17ft 1744+ V4 
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sss r 

nu BV> BVu 

«*ft Wto ,6to + A* 
*234* 334* 334* 

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wH .4k 4 Siia 
13^: 5 

3»0 390 — io 


28728Mckm H X 
21253 Mar Him# f 
8816MertandE 
20050 Alaisen At 
-3M0 Melton B 
200 Murphy 
, 225 Nabisco L 

W4480 Noranda 
5905Norcen 
55570 N VO Alt A f 
OTNowsco W 
7396 NoWst SO A 
400Oakwood 
6200 Omnibus o 
1220 Ostiawo A f 
' 7500 Pac W Alrln 
1400 Pamoor 
7550 PonCan P 
6622 Pent btaa 
MTO Pine Point 
32700 Placer 

mo Provloo 
gggg“S»uroo 
3399 Ravrock ( 
4690 Redpattl 
SMBReedStlSp 
M00 Rogers A 

7245 Raman 
lMRoffimon 
5181 Sceptre 
10300 Scarfs > 
23960 Sears Can 
1 1250 Shell Can 
29282 Sherrltt 

j™ Slater B I 
tOOOSaulham 
12845 Spar Aar a f 
lOimStolcoA 
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W3 Tara 
20817 TecfcBf 
11208 Tex cat 
4098 Thom NA 
75045 TorDmBk 
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l^JTradersAf 
WTmsm 
2M0 Trinity rm 
. 93829 TrnAltaUA 
36799 Ttyan PL 

72412 Trlmoc 

7738 Trl Ion a 
29075 Trliac a f 
41260 Turbo 

jamas' 

mBas r, “ 

233 Vorsti A f 

2100 Ve^Yonw] 

2w«sssr 

®WM«teamin 

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Total Boles 


/«•!, LewCteeeChge 

*134* 13)* 13to+ to. 
*1 5ft 15V* 15ft + U. 
335 320 335 +10 

*194* I9ta 194* + 4* 
*19ft 194* 194*+ to 
*2414 2414 3414+ V* 
*271* 371* 27to i 
515 14ft 14)*+ 4* 
*15to 15ft 15*.+ VO 
*64* 6(4 6ft 

sin* lift llto— )h 

39 37 39 +1 

Mft 84* 84* 

294 280 294 +r 

03to 33 33to+to 
*]6 1344 14 + to 

59ft 94* 94*— to 

*35 3444 35 + to 

*18(4 lift 10ft 
MOft 20ft 30ft 
*23 2244 22* _ 

S13W 13to 13ft 
390 390 -358 —10 

S7* 7)* 7to+ ft 

*141* 134* 14 
*4414 4Jft 44 + to 
Sllto IX* 11*+ ft 
512W 114* 1214 + to 
S31ft 31ft 31ft+ ft 
«5 455 460 +5. 

soft 27 27 — to 

1044 ID* 

S»* 23ft 234* — 4* 
*74* 7ft- 7ft - 
5114* 114* J14* 

*141 . 14ft 14 to— VC 
SM4S 25ft 25ft+to 
Mlto 31ft 214*+ to 
190 185 IBS — S 

njft 18 ft lBW+ ft 
513ft Hft -Uft + ft 
*30to »» 30ft— .ft 
M3 2244 2244 
524 V* 34U 244* + to 
*2914 29 29 — to 

S2S44 25to 2544+ ft 
STMk 10ft 10ft + to 
3« 300 360 -S 

*27 264* 27 + ft 

MZ44 ZTto 32W— ft" 

ffi Jie no — io 
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*3714 27 27 

* .49 49 —1- 

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SIZto nto - llto- 4k 
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350 m 340 — S • 
633 395 435 +35,- 

52044 304* 

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\ 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 14, 1985 


SPORTS 


|^i| /C-t— f 


Page 1' 


.."S 



Knieks Get Past Sum, 103-93, in 'War of the Worst 


feutaslMad fto* hunrtond 

i Reserve forward Tony Campbefl (left, hrf pg Joe Donors hem n CHf Robinson) bit a 15-foot 
; basdbejmipervrifli 22 seconds left in wertine Tuesday to defeat Washington for Detroit, 124122. 


Complied by Oar Sufi From PiSpauha 

NEW YORK —Tbe game was 
billed as tbe War of tbe Worst, but 
New York Roick Coach Hubie 
Brown begged to differ. 

■ “We’re doing about as well as 
can be expected considering what 

NBA FOQJS 

we have out on the floor,” Brown 
said after tbe Knieks defeated vie* 
loryless Phoenix, 103-93, Tuesday 
night for their First victory of the 
National Basketball Association 
season. u We have five guys injured. 
There's nothing we can do about 

that.” 

As evidence that the Knieks are 
better than their 1 -8 record. Brown 
pom is to a defense that has allowed 
fewer than 100 points per game and 
the loss of only two games by more 
than 10 points. Tbe problem daring 
the 20-game losing streak that end- 
ed against the Sons, Brown said, 
was a lack of offensive firepower, 
especially since the loss of Bernard 
King, whose knee injury occurred 
the day after New York's last previ- 
ous victory — on March 21 

“We were disappointed [at the 0- 
8 start]; but we knew it would come 
if we did the best we can,” said 
rookie Patrick Ewing, who led all 
scorers with 25 points and also led 
■the Knick defense with nine re- 
bounds and four blocked shots. 
“Now we have to keep mi winning. 
Keep working hard and winning.” 

“We played good enough to be 6- 
3,” Brown said. “But we haven't 
gotten any outside shooting. We 


finally got some shooting from the 
guard position.” 

Rory Sparrow, shooting 35 per- 
cent from the field before Tuesday, 
hit 8 of 10 field-goal attempts and 
amassed 16 points and nine assists 
for tbe winners. Ernie Grunfeld 
also provided an outside-shooting 
touch with 15 points, including a 

three- pointer in the third period 

that put New York ahead to stay at 

68 - 66 . 

Injury-depleted New York wel- 
comed back holdout free agent for- 
ward Lotus Orr, who came to terms 
prior to the game. He played 10 
minutes and scored 6 points. “We 


now have another dependable man 
in Louis," Grunfeld said. “He was 
working out on his own twice as 
hard as we were. Having Louis 
around gives everyone else confi- 
dence.” 

“1 give all the accolades to the 
players for working hard.” Brown 
said “They earned it. Once again 
we played good defensive basket- 
ball. For a change we got all the 
breaks at the end.” 

Tne Knieks forced 28 turnovers, 
including 10 offensive fouls, as the 
Suns fell to 0-8, the worst start in 
the 18-yeai history of tbe franchise. 

John MacLeod admitted that he 


expected some rough times for his 
Suns this season, but that it's been 
worse than he anticipated. “We're 
starting two second-year players in 
Charles Jones and Jay Humphries, 
Larry Nance was a holdout and 
missed training camp. Rod Foster 
just came back from injury and 
Georgi Glouchkov [of Bulgaria] 
can’t practice effectively yet be- 
cause of the language problem.” 
said the coach. 

The Knieks led, 54-47, at half- 
time and by 63-55 midway through 
the third quarter before an 11-2 
Phoenix run. with Nance scoring 
seven of those points, put the Suns 
in front. 66-65. But Grunfeld's 


three-point goal put New York 
ahead for good with 2:41 left in the 
period. 

Phoenix rallied from a nine- 
point deficit early in the fourth 
quarter, getting as close as 81-7S 
with 8:08 left. Sparrow then hit 
three straight jumpers, sparking an 
8-2 spurt, and the Suns came no 
closer than Five thereafter. 

James Edwards led Phoenix with 
18 points while Walter Davis and 
Nance had 17 each. 

Said Davis: ‘Hi’s really terrible to 
lose. Since I've been playing — and 
that goes back to college and high 
school — nothing like this has ev er 
happened ” \AP. L'PJj 


Ueberroth to 



By Rudy Abramson 

Los Angeles Tima Service 

WASHINGTON — Baseball 
Commissioner Peter V. Ueberroth 
plans to have face-to-face meetings 
early next year with as many as 40 
major-league players who testified 
or were implicated in the Pitts- 
burgh cocaine- trafficking scandal 


ers From Drug Trial 


that shook the sport earlier this 
year. 

The individual meetings will in- 
clude “two or three management 
personnel," Ueberroth said Tues- 
day at the National Press Gub. 
although he gave no hint on the 
course of action he was consider- 
ing. 


Capitals , Short-Handed \ 
Embarrass the Oilers , 5-2 


But he did say he had (old major- 
league general managers of the im- 
pending interviews and had ad- 
vised them that if a player is called 
before the commissioner it did not 
mean he will be unavailable for the 
1986 season. 

“The subject will be reviewed 
carefully, hut I'm not going to 
make judgments on any individual 
at all until that individual has a 
chance to sit down and review the 
facts as they were in the case, re- 
view the other facts that have come 
to light, discuss it with me and talk 
about ways that we can jointly 
eliminate this problem from our 
game," he said. 


“1 think as long as you protect 
somebody’s privacy and get some 
help, testing should be included in 
baseball," he said. 

Ueberroth also said he: 

• Believes Wrigley Field, home 
of the Chicago Cubs,’ must be light- 
ed if it is to serve as a major-league 
ballpark. “In my opinion, if Wrig- 
ley Field doesn’t have lights ... so- 
metime in the future it won’t be a 
field.” 

0 Opposes the use of instant vid- 
eo replays to back up umpires. 
“Umpires have integrity ” he said, 
“but they are going to miss one 
once in awhile — if they do. so be 
iu" 


1 , 

’ 




Computer Technology Promises U.S. Bookies an Extra Edge 


-T 
*■- C 


The Associated -Press . 

LAS VEGAS — While others target their 
computer software to schools or corpora- 
tions, Robert Bentsen. is tailoring his first 
offering toward a shadowy and untapped 
market: the bookmakers of the United States. 

Bentsen wants to bring illegal bet-takers 
into the computer age with a $5,000 program 
that can keep a botfde’s accounts and alert 
him w hen he . has taken too much action on 
either side of a game. 

But the former corporate computer pro- 
grammer is finding the market an elusive one 
at best. “We’re counting on word of mouth,” 
he said. “It’s not an easy market to reach.” 

He and his partner. Martin Mendelsohn, 
haye already sold a few of the programs, 
which operate on IBM personal computers, 
to people they believe to be bookies (the 
transactions do not include an exchange of 
business cards). 

“We get a call, the guy’s name is John and 


he’s heard about tbe program and wants to 
see it,” Bentsen said. “We met one guy and he 
even told us that wasn’t his real name: We 
brought him to the house, showed him the 
program and he bought it right away.” 

Bentsen figures there are roughly 50.000 
Illegal bookmakers spread across the country, 
a vast market when compared to the 75 sports 
books that operate legitimately in Nevada, 
the tsily state where sports betting is legal 
“We hope to make some sales among the 
sports books, but that’s a very limited mar- 
ket,” Bentsen said. “What’s the point of 
spending the effort on making five sales when 
you've got a bigger market out there?” 

Bentsen said sales are only made in Neva- 
da, although be said his lawyer contends the 
program can be legally sold in any state. 

The 48-year-old programmer, laid off from 
his job in 1981, met Mendelsohn, a bettor 
who once ran a sports service accounting 
agency. Mendelsohn used Ins knowledge of 


the sports betting business to give Bentsen a 
framework for the program, and Friends who 
managed sports books told him what they'd 
want in a computer program. Six months 
later, the program was finished. 

“The Comparer lets them know instantly if 
there's an imbalance at whatever level they 
want, and also calculates results without any 
man ua l effort,” Bentsen said. “The final 
thing it does is risk evaluation, which will 
prevent a bookie from losing his shirt by not 
balancing his bets properly.” 

Bentsen hopes the combination of func- 
tions will entice the country's bookies into 
throwing away their ledgers and betting slips 
in favor of computer terminals. 

“What we're doing is bringing both book- 
ies and sports books out of tbe dark ages.” he 
said. “They operate manually and they get 
hurt a lot. This way the chances are they 
won’t get burned as often." 


-*•* 

. r 


SCOREBOARD 


/’•* »<• W W - 


Football 




Basketball 


inn? 


VFL Leaders 


AMERICAN CONFERENCE 
TEAM OFFENSE 



Yarns 

Rust! 

Pow 

'Son Dtoflo 

3994 

989 

3085 

Miami 

3477 

998 

2479 

lets 

3552 

1559 

1995 

Snctanatt 

3531 

1388 

ttM 

3tnv*r 

3444 

1223 

2223 

tel non 

3374 

1242 

2112 

4ow Era land 

3311 

1315 

1994 

»in*txirah 

3242 

1313 

1949 

Saanta 

3224 

1871 

Z153 

i^tavgland 

3148 

1404 

1742 

:ndkmaool1s 

3040 

1387 

1473 

<att» Cttv 

3851 

864 

2187 

i3utfalo 

2718 

947 . 

T7S1 

Houston 

2598 

1040 

1538 


TEAM DEFENSE 


3 HtalnH O t l 
Mew England 
lets 

□eve fond 
tetters 
, Seattle 
L Denver 
ndlarapofls 
Buffalo 
(ansa* City, 
-louslon 


• - -teuls, LD. 

.. -cstason, CJn. 
. ' VBrlcn. Jots 
OlM.SU. 

1 . Ccnnav, K.C 
r . Xoione. Put. 

• Anrinft, Mia 
■ ‘ ulwav. Don. 

* ' Aoo a Hoa 
v ■■•OML fna 


Y art* 

Rush 

Paw 

ms 

1032 

.1733 

2815 

992 

1823 

2834 

9W 

1920 

2921 

1W8 

1813 

2079 

980 . 

2099 

3144 

1212 

1952 

2213 

1179 

2034 

3235 

1323 

1912 

3244 

1524 

1740 

3394 

ms 

2171 

3578 

1544 

2904 

3489 

1120 

2549 

3831 

1495 

2334 

3927 

1310 

2417 

INDIVIDUAL 




ATT COM YDS 
238 154 2201 

Ml 2024 
173 218* 
177 2212 
15* 22J7 
114 Mil 
210 .2*31 
TO 2337 
128 1*03 
121 14M 


2*8 

290 

318 

293 

220 

371 

387 

239 

243 


TD.1NT 
18 10 
17 8 

13 5 

20 13 

15 9 

13 7 

16 U 
1* . 12 

9 ■ 13 
8 9 


Rams 


3859 

939 

1920 

PttUatMohla 


3»4 

1428 

1424 

Dallas 


3874 

945 

2131 

St. Louis 


3244 

1424 

1842 

Mhmsota 


3394 

1345 

1949 

San Francisco 


3349 

1197 

2172 

Groan Bov 


3404 

1442 

1944 

Tamoa Bay 


3553 

1342 

2191 

Datrott 


3595 

1785 

1810 

Haw Orleans 


3*19 

12B1 

2338 

AlkmM 


3914 

1311 

2403 


INDIVIDUAL 



Qadrtariwcks 




ATT COM YDS TD.INT 

McMahan, CM. 

231 

134 

1794 

13 7 

Montana. SJ=. 

297 

T77 

20*8 

14 4 

Simms. Wants 

324 

180 

2543 

14 12 

JawonkL PHIL 

254 

135 

1948 

10 8 

Brock, Rams 

20 

144 

1770 

9 10 

□.wtiito, DalL 

329 

199 

2244 

11 12 

Lomax, SU_ 

319 

174 

2109 

12 11 

vilppla. Dot 

31* 

113 

1413 

9 9 

Do Boro. TJL 

338 

1(1 

2290 

17 18 

Kramer. Mina 

330 

187 

2199 

12 14 


Rashers * 




ATT YDS 

AVG LG TO 

Rtoas. AH. 

227 . 

1015 

4J 

33 4 

Payton, Oil. 

188 

951 

5.1 

27 7 

Wilder, TJL 

239 

«P 

19 

24 5 

Doreett OalL 

IIS. 

898 

4A 

40 4 

Crate. SJ=. 

119 

444 

55 

42 4 


RcCBfYffTS 




NO YDS 

AVG LG TD 

Hill, DalL 

40 

8M 

U9 

49 5 

Crate. fLF- 

55 

487 

U3 

73 5 

Jordan, Mian. 

48 

5 « 

1U 

23 0 

Monk, Wash. 

44 

509 

n.i . 

a i 

Cosbta. DalL 

45 

524 

114'- 

32 l 


NBA Standings 


EASTERN CONFERENCE 
.Alfa otic DMttaa 


Boston 

4 

w 

) 

L PCI. 
.837 

GB 

New Jersey 

t 

4 

M 

Ite 

Philadelphia 

4 

4 

500 

2V> 

Washington 

2 

4 

.250 

4W 

New YgrK 

1 

8 

.111 

4 

Detroit 

Central Division 

1 3 

m 

_ 

Milwaukee 

1 

4 

A3* 

Mi 

Chicago 

4 

5 

AU 

2V5 

Atlanta 

4 

5 

At* 

TVt 

Indiana 

2 

4 

233 

3 

Cleveland 

;3 

* 

233 

3V» 

WESTERN CONFERENCE 

Midwest Division 

Houston 7 2 J7B 


Denver 

4 

2 

75 a 

Vi 

San Antonio 

5 

4 

J54 

3 

Utah 

4 

5 

AM 

3 

Dallas 

2 

4 

-2S0 

4V4 

Sacramento 

2 

4 

258 

4Vk 

LA. Lakers 

Pacific Divishui 

7 1 

JO 3 



Portland 

8 

2 

800 

— 

LA. CUmrs 

5 

3 

425 

2 

Golden Slate 

5 

5 

-500 

3 

Seattle 

3 

4 

J33 

416 

Phoenix 

0 

8 

JHO 

7 


Scorfnti ITwt W wml 

TD Rush Rec Ref Pt» 


Rashers 

ATT YDS AVG LG TO 


; ScNefl, Jets 

208 

1052 

5.1 

69 

C : villen. Raiders 

221 

' 928 

42 

32 

" . ' . Varner. Sea. 

184 

722 

19 

23 

-- •*- ’James. KJL 

144 


4JB 

45 

■ . tack, Clev. 

139 

481 

AS 

41 


Crate. S.F. 

11 4 

5 

0 

U 

Pavton, CM. 

e 7 

2 

0 

5* 

Dickerson. Roms 

;l 8 

0 

0 

48 

Morris. Giants 

8 8 

0 

D 

48 

Brawn, Minn. 7 5 2 

Scaring (KJcktog) 

.0 

42 


-PAT 

FG 

Lb Pts 

Butter, CM. 

3232 

1722 

40 

83 

Septten. DalL . . 

2335 

1524 

53 

30 

Andersen, NX). 

1718 

1721 

55 

U 

igwebuike, T.B. 

2021 

1431 

53 

48 

LuckhursL Ail. 

1919 

1419 

52- 

47 


NO YDS AVG LG TD 


58 

715 

123 

48 


54 

636 

12.1 

41 


S3 

489 

110 

to 


49 

487 

MO 

45 


48 

473 

9 3 

73 



.amesi SJX 


Scoriae (ToucMawns) 

TO Rush Roe Re* Pto 
laps. Pllfc 10 0 8 2 A0 

: iimer, Sea. 10 0 10 - 0 80 

■ Ben. Holders 9 8 1 0 54 

rocks. Cin. 9 5 4 0 54 

" aloe. Jets 8 o 2 0 48 

Scarf Da oacKteo) 

PaT FG UPh 
arils. Den. 23-2* 19-» « *0 

. neech. CJn. 3KB 15-1 » S3 7A 

. .ndorson, Pitt. 24Ji 17-25 48 _ 75 

evelz, Mia. 2E-Z9 15-17 43 73 

.. ecflv. Jets 25-24 M-22 a a 

Potters 

NO YARDS LONG AVG 

lark. ind. 49 2285 88 666 

; aor.uua. » 1714 A3 435 

. KlnallV. an. 40 1749 *4 43J 

’ lolslelenkfl, SJ5. 50 214A A3 43J 

■ amortlla. N.E. AS 2879 75 432 

Pent Re tar nors 


NO YARDS LONG AVG 

Londeta. Giants 4S 2BM &t 45J1 

.Coleman. MMn 38. 1687 42 419 

Donnelly, AIL S3 2297 A» 433 

Buford. Oil. 44 1*05 49 433 

Saxon. DOlV. 48 2068 57 <3.1 


El lord. Roms 
MaMheVi OeL 
J-Smflh. SIX. 
Jenkins. Wan. 
McCnky, Gnta 


TUESDAY’S RESULTS 
Washington 24 28 34 21 >1—122 

Detroll 31 1* 28 U 12— 13« 

Thomas 14-28 4-8 32. LalmMer 10-17 8-9 28: 
RounatteW 9-17 MO 25. RuMnd 7-11 M 32. 
WllllamsMl 4^22. Rebounds: Washington** 
(Raundfletd. RuhwJ 12), Detroit 43 (UHm- 
boer 2D. Assists: Washington 24 (Will to ms 71. 
Detroit 29 l Thomas 10). 

PtKMHUx 17 2B 23 23— 73 

New York 28 24 21 m — 183 

Ewing B-19 9- TV 25, Sparrow 8-10 0-0 14; Ed- 
W'teT-W441LNonaMZ54tt.DQNb7-193- 
4 17. RetMUMs: Phoenix 51 [Nance 10). New 
York 55 (Ewing. Bennbfer 9). Assists: phoe- 
nix 22 (Jones, Nance Humphries. Adams 4). 
New Yarn. V (Soorraw 91. 

Denver 32 M 33 39-119 

HSMtOH 29 31 a 27-127 

Lloyd 10-124-4 24, Sampson 9-24 47 24; En- 
glish 144)9 410 34. Lever 1V21 *-12 31. Re- 
bounds: Denver 43 (Cooper 13). Houston 50 
(Sampson 12). Assists: Denver 23 (Laver 12), 
Houston 29 (Lucas Ml. 


Transition 


NO 

YDS 

AVG 

LG 

TD 

20 

277 

CL9 

80 

1 

20 

254 

12A. 

43 

1 

U 

W 

121 

51 

0 

17 

188 

11.1 

2« 

0 

31 

304 

9.9 

37 

0 


Hockey 


NHL S tandings 


Tennis 


WALES CONFERENCE 
Patrick OMstan 

W L T Pfs OF GA 


BASEBALL 
American League 

CHICAGO — Named Willie Horton batting 
Instructor. 

CLEVELAND — Added Rich Yett, Craig 
Pippin, Scott Banes and Reggie Rttier, pitch- 
ers; Kevin Bucklev and AndvAllon«m,co lett- 
ers; Dan Rehn,lnfto1der, and Jim Weaver and 
Dave Clark, ourflektars, to me 40-man raster. 

DETROIT— Added Ricky Bartow, Wavne 
Dotson and Eric Kins, Pitchers, la die 40-man 
ratter. 

MINNESOTA— Added Alan Anderson, 
pitcher, to Ihe 40-man raster. 

NEW Y OftK- Released Man winters, out- 
Heldgr.and Jonn Moniefusco eoid Don Cooper, 
pllchers. Sent day Christensen. Pitcher, to 
Cdtumbui gf the International League. Pur- 
chased the contracts of Doug Drabefc. Bob 
Tewksbury, BUI Fulton and Steve George, 
pttthm-s; Phil Lombardi aim nut cm Lvden, 
catchers, and DratH Dost rod*, firm base- 
man. 

OA K land— S igned Duoy Baker end Steve 
l Und o ram, out Holders. Added Darrel Actor- 
tetett and Bill Moonevhacn. pitchers; Brian 
Dorset!, catcher; Rob N eison. tlrsl baseman. 



NO 

YDS 

AVG 

LG 

TD 

IPOS. Pitt. 

21 

332 

151 

71 

2 

ryar. N.E- 

25 

355 

M2 

85 

2 

uixer. Roars 

28 

329 

11J) 

26 

0 

'llblte, Dm. 

13 

1» 

107 

IS 

' 0 

ttKlBS. Jots 

74 

T47 

1U 

40 

0 


RATIONAL 
TEAM 


CONFERENCE 

OFFENSE 


1 


Yard* 

Rush 

Pew 

- 

ilcogo 

3708 

1714 

1994 


tttos 

3708 

1284 

2584 


mm* 

3423 

1322 

2301 


m Franeueo 

3572 

>444 

2124 


. Louis 

32 IS 

11W 

2015 


osnlngton 

3219 

1740 

1*79 

• 

. jmoo Boy 

3157 

1002 

2159 


teen Bov 

3143 

13M 

ins 


Ian to 

31 » 

-1444 

W74 


lUadeiptda 

3114 

956 

2158 


.Jmesota 

3112 

998 

2114 


'3ms 

2941 

1288 

1453 


i*v Orleans 

279* 

1074 

1723 


.strait 

2510 

934 

1574 


TEAM DEFENSE 




Yards 

Rush 

Pass 


on is 

2a» . 

m 

1525 


itcooa 

JM 

794 

1999 


ssninoton 

■ 2849 

1112 

1737 







Pro Tour Leaders 

MEN 

Eontfnas . 

- 1. Ivon Lendl, S9754B1. 2. John McEnroe, 
S822A37. 1 Mots Wltoutar. 5541907. *. Jtaimv 
Connors. S44&334. 5, Boris Becker. S3SIA15. e. 
Anders Jorryd, OU JR 7, Stefan Edberg,. 
5324325. & Yannick Noah. 5100331. 9, Tim 
Mayotte, *291189, TO. Tomas Smid. *292.132 
Tew Points 

1. John Mcenrae.3.9B3 eemti. 2, 1 von Lendl. 
MOT. X Mats WI lander, IMS . «, Jimmy Con- 
ners. 2,175. 5, Boris Becker. 2A23. 6. Yannick 
Noah, 1,H4- 7, Stefan Edberg, 1TO. B. Aimers 
Jorrva L731 9,TJm Mayotte, U24. ML joaklm 
Nystrem. 1,322, 

Computer Ranfctnes 

L Ivan LBMU.1584L2. John McEnroe. 14157. 
O Metis wlkminder, 10L74.4. j mwiy Conners. 
88J5. 5, BOrtS Becker. 73L38. 4, Stetun Edbera, 
7047. 7. Yannick Notts. 44JJ. 8, Kevin Curran, 
ML44. 9. Anders Jarrvd. SL47. W, Johor KrieL. 
ASM. 

• WOMEN 

Eersl sgs 

l, Martina Mavralltovn, ILlKhOTY. 1 Chris 
Evert Uoytb 8804,949. X nano Manta move. 
KHM597A. Helena sufcova. 9340287. 5. Pam 
Sh river. 13*0383. *. Claudia Kohdericusch, 
S22S£7TL ?. Zinc GoUtsaL S3SIMS- 8. Kathy 
Jonkm, 51103409, Kathy Rinokti. 517X417. 10, 
Staff! Graf. S14&2I2. 

Tew Points 

1, Chris Evert Uovd.2300.2. Mariinei ttavra- 
Ulova, 1B(L i Ptrni Shrtvgr, 1420 4. Claudio 
KoMe-KIttdviaa. & Zina Corritor, 1330. i. 
Marnwta MOlCthm, 1135. 7. SMB GnA 1MS.IL 
Hono MonffllkcivaKKL?. Gobrieta Saballnl. 
TOM. 101 Helena Sokova. 1080. 


PhUodelpnln 

13 

2 

0 

24 

49 

39 

ana sum Javier, outfielder, to toe 4Bfnan ros- 

Washington 

8 

4 

2 

18 

45 

54 

ter. Released Dave Leioer and Tam Tell- 

NY islanders 7 

5 

2 

14 

52 

52 

mom. pitchers, and Mike Col lego, inflelder. 

NY Rangers 

7 

8 

a 

14 

54 

53 

Sent Than Reece. MlaWer.and Ran Harrison 

New Jersey 

6 

7 

l 

13 

50 

S3 

and Tom Romana ouMeMers, to Tacoma of 

Pittsburgh 

4 

8 

3 

11 

50 

41 

me Pacific Coast Leoaue. 


Adams Division 




National League 

Boston 

10 

4 

1 

21 

44 

44 

LOS ANGELES— Added Felix Tetedo. Qal- 

Quebec 

9 

4 

1 

19 

40 

48 

vlno Galvez and Scott Man>. pMclwrs. and Jett 

Buffalo 

9 

5 

1 

19 

40 

43 

Hamilton, third baseman, to the 40-man ros- 

Montreal 

7 

4 

2 

14 

44 

41 

ter. torn Jock FWnrtir. CMdwn. to AUMMuer- 

Hartford 

7 

7 

0 

14 

S3 

44 

quo of the Podfic Coast League. 

CAMPBELL CONFERENCE 


MONTREAL— Sent Dick. Groaentrrin and 


Norris Division 




Greg Borgor.Pttcners. and Mike Fuentes.o(n- 

St. Loot* 

5 

6 

3 

13 

47 

55 

flatoer.to IndtcnoDellsot too American Asso- 

Chicago 

S 

9 


ti 

58 

TO 

ciation. waived Razor Shines. Infielder. and 

Minnesota 

4 

7 

3 

11 

55 

54 

Mike O’ Berry, catcher. Added Rich Stoll and 

Detroll 

2 

9 

4 

8 

42 

7B 

Brian Holman, attefters; Bill Moore, outfhtto- 

Toronto 

1 

12 

2 

4 

45 

44 

w. and NUkA Haeutt. flret basemgn. to toe 40- 


Smvttia DfvdlM 




man rosier. 

Edmonton 

11 

3 

1 

23 

80 

52 

PITTSBURGH— Added 5hm Pansier ana 

Vancouver 

8 

4 

2 

IS 

46 

69 

Orlande Lind, alienees, to ate 40-man rotter. 

Catoarv 

8 

4 

1 

17 

<7 

57 

Sent Jett ZOSM. PHcher. and Cedi Espy. r»- 

Winnipeg 

6 

8 

1 

13 

42 

74 

fteMar.to Hawaii ot the PocHIc CnoS Lecgve. 

Las Angeles 

3 

11 

1 

7 

51 

71 

SAN DlEGO-Adatd Ray Howard, CondY 


TUESDAY'S RESULTS. 
MOMnal 1 I 1-t 

New York • i 

Richer (9), Dahlln (8L Cltellos (4); Ftattrv 
(7). Tonelll (8). Sfeon on goal: Montreal (an 
Smith). 13+9— 28; New York Ion Ray) twi- 
ll— 32. 

Edmonton 8 1 

wasblngtan 2 8 3—5 

Haworth (11), Garictar (ll),CHirt*(>on2(0l, 
Carpenter (4); Anderson (14), Gretzky (12). 
Shots oa gaol; Edmonton (on Jenun) ID- to- 
la— 38; Washington ion Mas) 44-12— 24- 
Teranh> 111 •— 3 

ft Loub « 2 n— 4 

Hunter (4), FtaCklwrJ 2 (5). Mol Ion (8); 
Hodason [3),MCAdom (1), Valve (8). SIMs on 
aoai: Toronto tonwamstariMl-lSfl— 3J; Si. 
Louis fon Bpmhoratl IMMlj-A, 


Sierra ana EQ Vosbarg, Pilchers, and Benito 
Sotdioao. oaiawr. n tne 40-mwi rotter. 

BASKETBALL 

Natkmol Battatitnil Anodnttoa 
LA. LAKER5— Signed Karttm Abdut-Jab- 
bar, canter, W a Orte-rear contract extension. 

NEWYORK— Stoned Louis Orr, forward.te 
a ntiHtlyear contract Waived Butch Carter, 
guana. 


World Cop Soccer 


EUROPEAN QUALIFYING 

Group ( 

Ireland 1 , Denmark 4 
I D enmark nwlHIta for the 19*4 ffawlt to 
Mexico CHylr 


Compiled hy Our Staff From Dispatches 

LANDOVER, Maryland — 
Whan you give the team with the 
National Hockey League's most ef- 
fective power play six chances, it's 
usually time to look ahead to your 

NHLFOCUS 

next game. But the Washington 
Capitals found that being a man 
down against the defending cham- 
pion Edmonton Oilers was no big 
deal Tuesday night- 
Washington scored a club-record 


UMb 25 23 J3 29-118 

LA. Lakers 27 a 21 31—119 

Abdul-Jobbar lb-17 S-72& Lucas 4-12 9921; 
DanttaY 13-18 HH3 34. Boltov 8-13 1-1 17. Re- 
bounds; Ulan a CEoion 7), LA. Lakers 48 
(Green •). Assists: UtahUiStaeMonllLLA. 
Lakers 22 (Johnson 10). 

LA. Clipper* V 28 31 19—115 

Golden State 23 44 29 29—127 

Carroll 11-18 5-5 27. Shari 1 VIA M 24i 
DJSmltti 12-195-829, Edwards 4-M 49 1A Re- 
bounds: LA. Clippers 47 (Donaldson 11). 
Goidefi Slate 54 (Snort 9). Assists: LA. aip- 
per«24 ( Edwards Bt, Golden Slate 31 (Huston 
9). 

Sacra menfo 24 31 22 38-115 

Portland 22 a a 34—124 

Vondeweohe 9-188-8 24. Orexier 11-11 10-11 
25; Johnson ID-19 4-8 24. Drew 11-19 3-4 24. 
Theus 4-10 3-3 15. Rebounds: Sacramento 57 
CL Thompson M), Portland 57 (Bowie, Carr 
111. Assists: Sacramento 29 (Theus 8). Port- 
land 33 (Orexier 81. 

Dattas M » 19 2»- 90 

Seattle 29 28 25 35-189 

Chambers 9-19 8-8 24, McDaniel 8-12 59 21; 
Aoulrre 10-23 513 94. Davis 49 3-3 12 Re- 
bounds: Dal las 51 1 ASirirnt 9), 5cattle 58 (Mc- 
Cormick It). Assists: Dallas 23 (Harper 7), 
Seattle 21 (Henderson II). 

Mllwaakee 3$ 73 S3 38— 132 

Chicago 79 21 27 IS— TO 

Cummlnax 13-24 04) 24, Moncrlef AID 99 22; 
Waalridge 1 1-22 9-1D31, Green 7-13 57 19. Re- 
bounds: Milwaukee 44 { Cummins* WJ, Chica- 
go 44 (Corzlne 10). Assists: MllwaukM 23 
IPmsev 51, Chicago a (Gervln. Mocv 5). 



Alan Haworth 

...A dub-record scoring streak. 


three short-handed goals, two by 
Dave Christian and one by Mike 
Gartner, in beating the Oilers, 5-2. 
In 16 games, the Capitals have 
scored five short-handed goals — 
just one fewer than they managed 
all of last season. 

“The biggest difference is now 
we puL more pressure on them on 
their side of the red line.” Christian 
said. 

“We did that two years ago, but 
last year we started badly and then 
■got more tentative." Two seasons 
ago, the Capitals had the best pen- 
alty-killing unit in the league, buL 
they slumped badly last season. 

Left wing-center Alan Haworth 
stretched his consecutive-game 
scoring streak to nine games, 
breaking Gartner's club mark with 
the game's opening goal. 

The opening game of the Oilers' 
six-game Eastern swing was an em- 
barrassing turnaround from their 
previous outing, a 13-0 shelling of 
Vancouver last Friday. 

“The team plays a great game” 
said Coach Glen Sather, “and they 
think they’re invincible. Then the 
next lime they come out and stink 
up tbe joint." 

Gaetan Duchesne, one of Wash- 
ington’s main penalty-killers for 
the past three years, was amazed at 
how long it had been since the 
Capitals had scored two short- 
handed goals in a game. 

“Holy smoke, no wonder I don’t 
remember,” he said, when told the 
club record had stood since 1975. 
“I hope it doesn’t take us 10 years 
to do it again." \AP, t/JP/J 


SPORTS BRIEFS 

Field of 16 Will Compete in Japan Cup 

TOKYO (U PI) — Sixteen horses, including 10 from abroad, have been 
entered in the fifth r unnin g of the S725.800 Japan Cup bere Nov. 24. the 
Japan Racing Association announced Wednesday. 

Tbe foreign entries comprise two from the United States and Britain 
and one each from Australia, Canada, France, West Germany, Ireland 
and New Zealand. 

Nassipour. a five-year-old US. chestnut, is rated the early favorite. 
Strong showings are expected from Australia’s Spirit of Kingston, West 
Germany's Daun and Britain's Sl Hflarion. The winner of the 2,400- 
meter f l*A-mile) turf race win receive 78 million yen (about $380,000). 

Price Record Set by Horse in Training 

LEXINGTON. Kentucky (UPf) — The world-record price for a horse 
in training was broken Tuesday when Estrapade, a 5-year-old mare, was 
bought for $4.5 million at Keenetand's November Breeding stock sale. 

Estrapade, who won the recent Yellow Ribbon Stakes at Santa Anita to 
boost her career earnings to $724,756, was bought by Texas horseman Al- 
len Paulson. The previous mark for a horse in training sold at public 
auction came last year here when Hail Bold King fetched $3.2 million. 

NFL Ref Is Faulted on 'Snowball’ Play 

NEW YORK (AP) — Tex Schramm, chairman of the National 
Football League's rule-making committee, says officials should have 
stopped play Monday night when a snowball thrown from the stands in 
Denver disrupted a San Francisco fidd-goal attempt 

The incident came 17 seconds before halftime with Denver leading. 14- 
3, and Ray Werschmg about to try a 19-yard field goaL Just as the ball 
was snapped, a snowball landed in front of holder Matt Cavanaugh, who 
babbled the ball and then tried unsuccessfully to pass. 

“We have no control over the crowd," said Schramm. “But the referee 
should have killed the play right at that instant, regardless of what 
happened to the kick. It should be like baseball — if a balloon or a piece 
of paper or something that can distract a player comes on the field, they 
immediately signal time out. You can’t have something like that. Next 
time it’ll be a beer bottle or a whiskey bottle." 


Perry’s Role on Bear Offense May Be Up in the Air 


Compiled by Our Staff From Dispatches 

CHICAGO — The undefeated 
Chicago Bears last week reduced 
the offensive role of 308-potmd 
(139.7-kilogram) William Perry 
from runner to decoy. That has 
spawned two schools of thought: 

• Coach Mike Ditka is cooling 
off on The Refrigerator as an offen- 
sive weapon, preferring to save him 

NFL NOTES 

for for his customary duties as a 
defensive lineman. 

• Ditka is saving the rookie for 
passing duty on national television 
Sunday against the Dallas Cow- 
boys at Texas Stadium. 

Perry, whose uniform number is 
72, is the first prominent Bear back 
to wear a number in the 70s since 
Red Grange, who wore 77. But his 
style is more like that of Bronko 
Nagurski, whose speciality was the 
jump pass. 

Perry, who has run for one 
touchdown and caught a pass for 
another, practices passing daily. 


and still plays offense better than 
defense. Asked about that. Buddy 
Ryan, the team's defensive coach, 
said: “Offense is easier." 

□ 

Two weeks ago, 13 backs ran for 
100 yards or more, a National 
Football League single-week re- 
cord. Last week 10 men did it. Does 
that, combined with liberalized 
pass interference rules, mean 
there's a new emphasis on rushing 
in the NFL? Only in part. 

“1 don’t think football has 
changed that much," said George 
Young, general manager of the 
New York Giants, who are 7-0 in 
games in which they've rushed for 
more than 100 yards and 0-3 when 
they've rushed for fewer. "You've 
still got to be balanced. A one- 
dimensional team won't win very 
much." 

The statistics bear him ouL The 
league's top 10 rushing teams are a 
mixed lot. with a combined record 
of 53-47. They include the 10-0 
Bears and the 7-3 New York Jeis, 
Giants and New England Patriots. 


but the list also includes the 1-9 
A Llama Falcons and 3-7 Indianap- 
olis Colts. 

□ 

The long punt return for a touch- 
down is sometimes called football's 
most underrated play. It’s fre- 
quently a decisive decisive play, as 
two coaches said Sunday after their 
youngsters ran away from the field. 

All-pro receiver Louis Upps of 
Pittsburgh scored on a 71-yard 
punt return. And Irving Fiyar, the 
improving New England receiver, 
scored on a return of 77 yards. 

“Thai was the play of the game,” 
said Coach Chuck Noll after 
Lipps’s sprint kepi Pittsburgh first 
in ihe AFC Central. Coach Ray- 
mond Berry said Fryar is one rea- 
son the Patriots are first in the AFC 
East after starting this season a 
surprising 7-3. 

Last year, as a rookie, Fryar 
scored only once. Now. said Berry, 
“he’s a touchdown wailing to hap- 
pen every time he touches the halL" 
□ 

Tbe Houston Oilers, tied for the 



Chicago's William Parry (in his gmse as a defensive lineman), manhandling a quarterback. 


lead in the American Conference 
Central Division and used to play- 
ing in the comfortable Astrodome, 
ran into chilly weather in Buffalo 
on Sunday and were bombed. 20-0. 
At tbe same time, Chicago took 
advantage of a cold home-field gale 
to win easily — without injured 
quarterback Fun McMahon. 

"Our weather helps,” said Dilka. 
“We know more about it than the 
other guys do" That helps keep the 
Bears motivated in their drive to a 
16-0 season. “The winners get the 
home-field playoff advantage, and 
we love winter in Chicago." Ditka 
said. No one else does. Of the seven 
passes thrown into the wind Sun- 
day by Detroit’s Eric Hippie, two 
were intercepted. 

Said tackle Jim Covert: “It will 
be interesting to see those Califor- 
nia finesse teams here in Januarv.” 


Last Sunday. New York scored 
look a 17-14 lead over Miami, put- 
ting the Jets 66 seconds away from 
an 8-2 record and a commanding 
position in the AFC East. And it 
put last year's conference champi- 
ons that far away from being just 
another 5-5 team with minimal 
playoff chances. But it took just 25 
seconds to turn the Dolphins into 
21-17 winners. 

Lorenzo Hampton returned the 
kickoff 37 yards and Dan Marino 
completed a six-yard pass to Mark 
Clayton. Then Marino threw a 50- 
yard touchdown pass (o Mark 
Duper. All Du per had to contend 
with was single coverage from Bob- 
by Jackson, who had reinjured a 
pulled groin muscle earlier in the 
game and was Still woozy from 
knocking Clayton out of bounds on 
the previous play. 

Some teams would have been 
content to play a prevent defense, 
assuming that, at worst, the Dol- 
phins would kick a field goal and 
send the game into overtime. But 

because of injuries, New York had 
only five able defensive backs in- 
stead of the six needed for the pre- 
vent. So Lhey decided to blii 2 . 

“If we had them around the 20. 
all right,' 1 said Coach Joe Walton. 
“Once they had thru kickoff return 
we felt we had to play our regular 
defense — wbai got us io 7-2 — to 
keep them from picking away at a 
zone into Field-goal range. We 
warned to go after them and hurry 
them." 

Thai's tough against Marino, 
whose record 4S scoring passes last 
season were due in large pan io his 
quick release. I LA T. AP) 









4 • 




Page 18 


INTERNATIONAL HERALD TRIBI NE, THURSDAY, NOVEMBER 14. 1985 


H 


ART BUCHWALD 

The Futz- Around Factor 


U. S. Arts Agency Turns 


sing ly Healthy 20 



m 


President Reagan upped she ante 
Wednesday — just two weeks before 
his summit with Soviet leader Mik- 
hail Gorbachev — by suggesting it is 
time to "stop fursing around . ” 

From the front page of 

USA Today. Nov. 7. 

W ASHINGTON — When So- 
viet leader Mikhail Gorba- 
chev read the quote be called in his 
Kremlin advisers. 

“What does futzing mean?” he 
asked them. 

“I don’t know." his foreign min- 
ister said. “We’ve asked the White 
House to clarify iL Here is their 
reply: ’Don't 
play dumb. You 
do it all the 
lime.’ ” 

Gorbachev 
was furious. 

“The president 
knows we don’t 
know. Why 
would be send jgg A* 
us a message we ||| /5§r 
don't under- D . .. 

stand? Can’t Buchwald 

anyone in our embassy in Washing- 
ton find out what it means?” 

“Our ambassador advises us 
futzing has to do with putting our 
medium-range missiles along the 
Czech border." 

A Soviet marshal said. “He's 
mistaken. It refers to the buildup of 
conventional forces in Poland. The 
.Americans are saying they want us 
to pull them out" or they will futz 
us." 

"You're both wrong," the KGB 
director said. “Futzing is another 
word for defecting. Reagan 
couldn’t believe it when our man, 
after defecting, turned around and 
redefectcd to us. We futzed the 
GA and the president didn't like 

1L □ 

Gorbachev said. “You all have 
theories but you don’t have facts. 
How can I face Reagan in Geneva 
when I have no idea what be is 
talking about?” 

The general secretary’s scientific 
Dali Plaza to Honor Newton 

The Associated Press 

FIG GERAS. Spain — The cen- 
terpiece of the Madrid square that 
Salvador Dali has agreed to design 
will be a stone monument called 
"Homage to Newton," according 
to a spokesman for the artist He 
said work would start next month. 


adviser said, “My people have 
studied the message and conclude 
it has to do with ‘Star Wars.' Rea- 
gan was talking about the shield the 
U. S. plans to build to prevent our 
missiles from hitting them.” 

Gorbachev declared. “What is 
my response ir he tells me in Gene- 
va to stop futzing around?” 

“You tell him you’ll be glad to 
when he stops fusing around with 
•Star Wars.' and not a minute soon- 
er." 

“He won't go for iL" Gorbachev- 
said. “Why don’t I offer to cut back 
on futzing by 50 percenL provided 
Reagan does the same?” 

The Soviet marshal said, "They 
will cheat." 

“Then we’ll cheat too. We will 
match them futz for futz," Gorba- 
chev told them. "But I still have the 
feeling the president was talking 
about something else.” 

□ 

The foreign minister said, "Did 
you do any futzing in your private 
life that Reagan may have been 
referring to?" 

Gorbachev shouted, "They're 
lies, all lies.” 

The KGB director said. “I can 
attest to that." 

The press chief said, "Perhaps 
the president misspoke and didn't 
mean to use the word futzing at all. 
He’s been known to say something 
and then take it back three hours 
later." 

Gorbachev was getting impa- 
tient. “We can’t speculate. We have 
to find out exactly what his mes- 
sage meant or cancel the summit'' 
□ 

A secretary came into the room 
and handed a cable to the KGB 
director whose eyes almost popped 
out of his head. 

“Our language experts have 
tracked down the word. It's Yid- 
dish and means ‘fooling around, or 
not being serious.’ " 

“You're crazy. What is Ronald 
Reagan doing speaking Yiddish?" 
the foreign minister said. 

“It makes you wonder." Gorba- 
chev mused.’ “Fmd out what his 
name was before he changed it to 
Reagan.” 

“Yes, sir.” the KGB director 
said. 

“And.” Gorbachev continued, 
“also get me a Yiddish dictionary 
so I can answer him in kind.” 

“We can't sir. They’ve all been 
burned." 


By Grace Glueck 

Set i York Timet Senior 

T T has been assailed by critics, threatened 
1 with dismantling by presidential advis- 
ers. and warned by Cassandras that it 
would never survive. But this year the Na- 
tional Endowment for the Arts — a federal 
agency that has achieved a national pres- 
ence out of all proportion to its size and 
budget —is celebrating its 20ih birthday in 
fairly robust health. 

Luting through 10 Congresses and more 
than four administrations, the endowment 
has grown from a handful of employees 
and six programs to 16 programs adminis- 
tered by a staff of 260. Its budget has 
fattened from $2.5 million in 1965 to SI 63 
million for fiscal 1 985. Its first grants went 
to 159 Organizations and individuals, 
mainly in urban centers; so far this year it 
has banded out S 145.5 milli on to 4.688 
recipients, covering every pan of the Unit- 
ed States and an enormous variety of cre- 
ative endeavor. By matching outside dona- 
tions with government funds, it claims a 
hand in boosting the total of private gifts in 
the arts from $226 million in 1967 to more 
than $4.6 billion in 1984. 

Thus, on the face of it the endowment 

— contributing less than 5 percent of all 
spending on the arts in the United States 
but still the largest single backer of the arts 

— is an American success story par excel- 
lence. A major boon to the culture indus- 
try, it may even be — though the notion is 
challenged by conservative critics — a 
boon to culture itself. While President 
Ronald Reagan, in his first year of office, 
entertained proposals for dismantling the 
agency in favor of one that would solicit 
private funds, the endowment seems since 
to have risen in his graces, and he recently- 
praised its “good work” in making creative 
activity “accessible to all .Americans, not 
merely a small elite." Representative Sid- 
ney Yates, Democrat of Illinois, who does 
battle in Congress on behalf of the agency, 
sees it as a force for “cultural advance- 
ment, not only in urban centers but also in 
smaller rural areas of this country." 

As a cultural superpower, the endow- 
ment is wide open to challenge and attack. 
“Even if they cleaned up their acL 1 still 
wouldn’t want them to exist,” Representa- 
tive Richard Armey, a Republican from 
Texas, said of the endowment in Septem- 
ber. He is one of three Texas representa- 
tives who tried to have Congress cut off 
endowment financin g of what the repre- 
sentatives judged "pornographic" work by 
poets, and who proposed cuts in this year’s 
endowment budget To save the situation, 
Yates agreed to freeze the agency’s budget 
at last year's level of SI63 million provided 
that S3 million more was added for public 
broadcasting. 

On a somewhat more philosophical lev- 


el. in his 1984 book. “The Democratic 
Muse ” Edward C. Banfield. professor of 
government ar Harvard University, argued 
that federal support of the arts was not 
constitutionally justified and did not work 
in practice; that is. that it did nothing to 
enhance the aesthetic experience. .And the 
pianist and critic Samuel Lipman, publish- 
er ol the conservative arts magazine The 
New Criterion, says large-scale cultural ex- 
penditures by the endowment “haven't cre- 
ated any an. We’re in no different an 
artistic position than we’d be without the 
endowment. It’s true we’ve expanded the 
audience, however we decide what the au- 
dience is. But its quality has gone down in 
recent years: that's the other side of size. 

“If the endowment were to approach its 
task as educating the citizenry to be a 
sophisticated audience for any an. that 
would be fine. Until this particular mo- 
ment. however, the aim has not been edu- 
cation bur cmenammeaL” Pan of a team 
that in 1980 wrote a report harshly critical 
of the endowment for the conservative 
Heritage Foundation, Lipman was ap- 
pointed by Reagan in 1983 to serve on the 
National Council on the Arts, an advisory 
body to the endowment and he remains 
one of the agency's most diligent gadflies. 

Troubled over such sallies from intellec- 
tuals. Arthur Schlesinger Jr„ the historian 
and professor of the humanities at the City 
University of New York, stressed in a re- 
cent talk the solid mandate given the en- 
dowment by die U. S. public. “The policy 
of federal support is an exp r ession of the 
value the republic places on the arts, a 
symbol of the role assigned to the arts in 
our national life,” he said. 

The agency’s establishment in 1965 was 
a momentous decision for Congress, sig- 
naling that support of the arts was an 
appropriate area of concern for the federal 
government The endowment would not 
only provide funds to stimulate develop- 
ment of the arts and their audiences, it 
would give culture a national presence. As 
Frank Hodsoll, the endowment's current 
chairman puts it “For the first time people 
from the different fields of creativity could 
come together to provide a national per- 
spective on the arts.” 

Starting off with SZ5 million under the 
chairmanship of Roger L Stevens, the real- 
estate magnate and theatrical producer ap- 
pointed by President Lyndon B. Johnson 
in 1965. the endowment was brilliantly 
expanded by Stevens’s successor, Nancy 
Hanks. A consummate politician who built 
an arts constituency that helped her bud- 
gets sail through Congress, Hanks presided 
over the agency's biggest appropriations 
leaps, from S8J2 milli on when she took 
office in 1969 to S123.8 million on her 
retirement in 1977. She broadened its fund- 
ing scope considerably, to include such 


categories as expansion arts, which sup- 
ported community-based arts projects, and 
the innovative challenge-grant program. 

Under Stevens and Hanks, the endow- 
ment had been perceived as insulated from 
the political hurly-burly that surrounded 
most federal agencies. £ut cries of “politi- 
cization" arose with the installation of Liv- 
ingston Biddle, appointed by the Carter 
administration. Battle lines were drawn be- 
tween those who thought primarily in 
terms of reaching large audiences (“popu- 
lists") versus those for whom the size of the 
audience was purely incidental to die qual- 
ity of what was presented ("elitists’^. 

As special assistant to Senator Claiborne 

Pell Democrat of Rhode Island and a 



Kan Hemen/Rw Nm York Timet 

Frank Hodsoll 

prime mover behind the endowment Bid- 
ale had drafted the legislation establishing 
the Arts and the Humanities Endowments. 
His appointment was sponsored by Pell 
whose expressed ariti-“ditist" sen laments 
played into the “populist” views of the 
Carter administration. The shift of endow- 
ment money — including challenge grants 
— toward wider geographical representa- 
tion and support of ’nontraditional groups 
that had begun during the Hanks chair- 
manship was stepped op noticeably. 

Under Biddle, a diligent but low-key 
chairman whose lively staff served him 
weft, the agency undertook such “populist" 
initiatives as the Office of Minority Con- 
cerns, to act as liaison between the endow- 
ment and minority arts groups. Biddle and 
his staff also helped give the agency’s annu- 


al budget another healthy boost of almost 
$35 ratifion. to $158.7 million by cheume 
he left in 1981. He forecast that it would 
reach S300 million by 1984. 

That, given the less-i s-more pWosoph> 
of the Reagan administration, and the huge 
federal deficit, has proved 
$163.6 million Tor fiscal 1985 the endow- 
ment may be said to have leveled off. and 
substantive increases are certainly not in 
the cards for a while. Hodsoll has consis- 
tently requested less money than Congress 
has finally given him- 

The “elitist-populist” question seems I to 
have faded away, thanks to HodsoU's skill 
at nurturing both grass-roots and more 
established constituents. While supporting 
the “populist” expansion-ans program he 
has also beefed up the challenge-grant pro- 
gram — which gives grants to insntuticms 
of high artistic quality to help their long- 
term financial stability — from $ 1 4 million 
in 1982 to nearly $22 million this year. 

As an adminis trator, Hodsoll gets good 
marks from within and without the agency. 
He has tightened staff operations and as- 
sumed greater control over them than his 
predecessors. He has also, he says, effec- 
tively “systematized” the workings of one ■ 
bf the endowment's most important — and 
controversial — processes, its peer review 
panels, on which experts drawn from the 
various arts fields advise the agency on 
grant-making. Endowment applicants 
have long complained about the secrecy of 
the panels — rejectees are not told in detail 
why they were turned down — and ques- 
tion the objectivity of panelists. 

“We may not have a perfect balance,” 
said Hodsoll “bui now we have several 
checks. Program directors submit two, 
three or four names for every slot; we look 
at them from the point of view of geo- 
graphical distribution; we try to ask all the 
right questions.” 

There is little evidence that partisan poli- 
tics plays any part- in HodsolFs decisions. 
Among the winners of a $25,000 fellowship 
in the visual arts, for instance, is the painter 
Peter SauL whose recent work has con- 
tained vitriolic portrayals of Reagan. ‘‘We' 
do fund good artists, and if they do things 
that are political dial's their business,” 
said HodsolL : 

As the endowment awaits reauthoriza- 
tion by Congress through fiscal year 1990. 
a process required every five years, its role 
as a cultural benefactor seems established. 
But as Hodsoll points out, that role re- 
mains limited!' “The endowment has noth- 
ing to do with creating genius," he said. 
“What we’ve done essentially is to make it 
ea si er for institutions and creative individ- 
uals to pursue their art. More important, 
we symbolize the federal government's rec- 
ognition of culture in this country as an 
aspect of national health.” 


PEOPLE 

ArtistHoicord Hodgkin 
Wins £10,000 Award 

Howard Hodgkin, wbo paints on 
old bits of wood and once said that 
being, a painter in England was 
“like being in enemy territory" was 
named winner Tuesday night of the 
^10.000 ($14,200) Turner Prize. la 
a citation read by the filmmaker Sir 
Richard Attenborough at the Tate 
Gallery. Hodgkin, 53. was praised 
"for a substantial body of work 
that shows continuing vitality and 
an unswerving personal vision." 

Susan Cheerer has been 
n rimed winner of the 19S5 -LL 
Winsbip Book Award for “Home 
Before Dark," her memoir of her. 
father. John Cheerer. Drawing; oa 
his unpublished journals arid ku* 
ters. she wrote about his 'literary? 
successes and failures, his years as a 
fa mily fr nn his homosexual affairs 
and his 20-year battle with alcohol 


■* A man who says be was Rock 
Hudson's lover has filed- a SI 0-mil- - 
lion lawsuit charging that the actor, 

doctors and two other persons con- . 

spired to hide the fact that Hudson 
had AIDS. In the suit and in a V 
separate $ 10-miUion claim .filed 
against Hudson’s estate, Marc ' ' 
Christian, 31, said he is living in - 
“extreme fear that at any moment” * 
he will learn that he contracted 
acquired imm une deficiency svn- V. 
drome from the actor, who died of 
AIDS Oct 2. Tbesuit said Hudson : 
and Christian “became lovers in .• 
March 1983 and thereafter contin- f : ' ; 
ued a social and sexual relationship V 
with each other.” Filed by the cc- . ■ 
Iebrity attorney Marrin Mftchel- ■' . 
son, the suit alleged that Hudson ' 
learned he had AIDS in June 1984 
but hid the fact from Christian tin- 
til July 23, 1985. MUchelson said 
Christian has “been tested for AIDS _> •• ' 
but does not know yet whether he : 
has the disease. 


Pfnchas Zukennan, 37, the vio- 
linist and mnsic director of the St 
Paul (Minnesota) Chamber Or- 
chestra, and the actress Tuesday 
Wdd, 42, were married Oct 18 in 
Los Angeles, an orchest ra spokes- 
woman has confirmed. - 
□ .. 

Jerry Lee Lewis was listed in 
satisfactory condition in the inten- 
sive care unit of a Memphis hospi- 
tal after a four-hour operation to 
remove a large stomach ulcer. The 
singer, 50, was hospitalized Friday. 


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MSE 1T4 Canada, (416) 862-1096 

GERMANY 

BONN: Spooom furnished houses. 
My equppod. ' 

DM130 tozSDpe 
Ion 


GREAT BRITAIN 


REAL ESTATE 
TO RENT/SHARE 

PARIS AREA FURNISHED 


INTERNATIONA L TRAVELLE R? Can- 
valient stiaos/opot taailL I mo 
from Kensington Staram, Heathrow 
29 mins. West End 9 mms- USS43UXH- 
116.500 London «3 6(503. NY 71 B 
338 2576 



ALLIED 




AVENUE MONTAIGNE 

In excepftond building. 116 jam, 
very lovely reception + 1 becroom. 
Wice- R^OO/MQ. 

V.LGJ. 47 66 03 26 


VAN LINES INTI. 

OVK 1300 OFFICES 
WORLDWIDE 

USA AOed Van UnMlort Carp 
(0101) 312-681-8100 

Or ad cur Agency European offices; 

PARIS D e rh ordea hitar miHo md 

(1) 43 43 23 64 

FRANKFURT 

(069) 250066 

DUSSHDORF/ RATINGEN 

(02102) 45023 IJU. 

MUNICH LML5. 

(089) 142244 

LONDON JTSSSZ 

(01) 993 3636 
Coll for Allied's free estimate 



ST. JOHN’S WOOO, London, near 
American School. 4 beds. Sued period 
house, mnoculgtft All arnereties, fur- 
rvsheri' wifwnohed, graders, long let. 
£550/ week. Tet London (01)7223562 


DUTCH KOUSNG CENTRE BlV. 
Deluxe rentok Vatorwsor 174, 
Amsterdam. 020621234 or 623222 


Embassy Service 

8 Avs. 4e Mawfae 
75008 fen 

YOUR REAL ESTATE 
AGENT IN PARIS 
4562-7899 


STAYING IN PARIS? 




Mmuimm tentol 2 months. 
A ha fl ea* A homes far tetm. 
INTER URBtS, 1, rue Molten. 
Paris (8*]. Tali (1) 4563 1777 


REAL ESTATE 
TO RENT/SHARE 
PARIS AREA FURNISHED 

NEAR MONTPARNASSE. BeouriM 
(Reliar, deeps 3, gerden, q v gfab h 

Dec IS Td- 432578.33. 7 - 9 an. 
R£ DE LA OTt Luxury 4/5 rooms on 
garden, c haroder. sun, aim. F19/XX) 
net. Tefc <2 60 80 45 

SHORT TERM M LAIW QUARTER 
No ogam. Tet 4329 3883. 

PARK-LA DEFENSE. Studio, high dan, 
new, short ar Iona term. 47 74 88 44. 


EMPLOYMENT 


EMPLOYMENT 


EXECUTIVES AVAILABLE EXECUTIVES AVAILABLE 

MAJUCeWOACE with bm*ng bod- ARE YOU S&CINQ a hardworking 
ground. Nawng-*lr<« pananafity. coordinator with rorteina 2 


around. Hoving-drong pananality, 
bong very dynamic & r octant ora 
only o few (^tribute*. Used to top 
level momnement negotiations. Flu- 
erf Swedish. German. Engfah and 
Spartah. some T rends & Norwegian. 
Seels new diatlen^ng cawoonens 
worldwide. Currant pasdian: turope- 
i*i Market + Promotion m paper and 


pulp industry. Phase repy to Base 
2211. IJi-T. Friedrich*. 15, 6000 




6TH ST G81MA1N DES PRS , 2 roams, 
btchan, bo*. FA50a Tet 4544 77 34. 


PARIS AREA UNFURNISHED 


Franldun/Moin 


INFL MARKETING 

Frendmn 41. US. Business School, 
US 4 European nwlfaaliandi, inti 
moAefmg luxury 6 cenuumargoed^ 
ha i fall core, services a cor n utting 


xdes coor d nutor with /rortering £ 
mcnoganant nyrfaft ies. Young ac- 
eaitNft MBA, Huont French, Engfah, 
Spandk some Portuguese, enwnence 
B^jort s finance. Free now rranoe 4 
abroad. Wri te Jouon. 42 V9age de 
Graft 7B8I0 pBueherohes. fronce. 

EUROPEAN WOMAN- Educated 
medical doctor seeks pofeeianc4 op- 
porfUMy for iixfcvkW requringspe* 
cial attention part or fufl true. &gtih 
& French. Tet NYC 212479-1620! 
Heederson. 


AT HOME IN PARS 

PARIS PROMO 




EMPLOYMENT~'" f '^EMPLOYMENT 

GENERAL DOMESTIC 

POSmONS WANTED _ POSITIO-NS AVAILABLE 

VE^ AhBB CANNBWMAN. SWISS WDUSIHAUST 6Z fanng n 
We8 grounded m ect fafl. prududrqn, hm nearZuridi seeks V 

gnopfe- eAfafahedpfe toitxwcfa livate, seriofa, attractive RouMkMp- 
Ai oreign correspo ndent for ma(or US V/a™*foapreferoUyinherlaie 

iirsstssffss!^ 

hon wjfa chofanynglgb fwnffy many teguoge^lmSf^rerKh'/ Ifo 
S^ ag terafl T.V gW,' because some 

bune. 92521 Ne>Jy Cedeft froace - noveSng (USA. Rteae and (tidy may 
VBY PERSONABLE charming Fiends be involwd. Secnehrial Ms not a 
lady, ateuede Gemolo^t JG-lAl must, bU o pte. SHoJd be unoono- 
Saies n jewelry, rrwrketina, pubfc hve cookA chcrming fx»t, sofa txntr 
relations, seeks postrori, nuS/wbeio- . (aeamngAwndv ' hmnfcd by part- 
sale, or fashte/jewefey. shop man- Swum be untfaocned but 

agement, Europe or OSA. Ffaenl Bi- ■ one chid rrt imder 12/15 not neca- 
sor*y a prebfem. Handwritten apph- 
oattoas with amofai, references, 
recent photaU la Ban 2267, Hercdd 


TAMM HOBO A- 1 cMd. Atast speak 
English. Start taa or sooner. Cc4 / 
write /sard photo; R. Rust, 1209 Keen 
ftLS, decevmier, FL 33516 813446- 
5825 LEA. 


DOMESTIC 

POSITIONS WANTED - 





MONACO 


PWNQPAUTY OF MONACO 
MONTE CARLO NEAR CB4TBL 
Very nice 2 roam, loggn, sea view, 
equipped kitchen, bathroom, wc, cup 
boards, cellm, m modem compter, high 

dan. freoaao. 

AGB4CE 1N1ERMHXA Monte Cola 
Tab 93 50 66 84 
Telex: 469477 



REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


LAGOMAGGfORE 

ASCONA 

In Ifvs world hrneus reon we offer first 
date upuitumvi ond homes faght 
above the old viflage of Asoono or on 
the fake wirh mdoor pod, you wiR find 
yOUf home. Pnces from SF32tU»Q vp to 
3F1, 100,000. Mortgages at low Swiss 
interest rates. These red estates are 
free for Kite W fovgne rs. 


EMBIALD HOME LTD. 



Orerioofc'ng the McsSwroneai. a 5 
bedfoam/bathioom tesidnitz, asmbm- 
ing syfa end taaf camfon such as atfo 
maSc sprmlders. gates and sluten. a 
newly rnstolled alarm system a heated 
pool and a double garage + house- 
keeper's quarters make this property 
complete. 

For farther derails pfaate contact: 

AGED) 

26 bis. Bd Prinaesse Owdofte 
MC 98000 MONACO 
Tel: (93) SO 66 00. Tk 479417 M C 


LAXEGDEVAOR 


Agance du Lmord 



NEUU 1 Y on Baa 
BOULEVARD MABIOT 

large 4 rooms, 2 baths, 150 sqm, 
sun, maid's room, GARAGE 
EXCLUSIVITY 

PERDRK 1 - 42 64 17 02 


18th MONTMARTRE tavdy duplex. 
High up. 2 bedrooms, fireplace, terrace 
OPT1M 45 62 03 03 




n.49o, 


MARAIS. Near Mm*e Picasso, 5 
room. 160 sq.ra_ parking. 
F 2 JOOJOO Tek 45 79 19 18 


ATTEPfTlON EXECUTIVES 
Pubthb your businaa mena g e 
in 0m fi ora U Tei- 

bvnft urfceremone than a AM 
of a mXion readers woeid- 
wkh, mart of whom one ei 
birsvieMr an d industry, wdt 
rood it. Just Safes r us (Park 
6135951 Mere 10 am, en- 
turing mat we an IWn you 
bock, and your mir age wR 
ospear nt nmin 48 hotas. The 
rate ■ US. $9.80 or local 
oq ur tnJeaf per fine. You most 
irtdudo toctspiefe and verifi- 
able bdting address. 


BUSINESS 

OPPORTUNITIES 


OFFSHORE & UK 

LTD COMPANIES 

tear paraMn and management n LK. 
We of Mon, Turks, Qiannei 

Wands. Panama Ubeno, Gfarafor and 
most other offshore areas 

• Coandentid advice 

• ImrnedicSe avalebkty 

• Namnes services 

• Bearer faares 

• Boa regiHratoca 

• Accounting £ odranrtrarion 

• Mai, Hephone & «eto 
Free emfonqtcnr booidet from; 

fflKT CORPORATE 
SBTV1CB LTD 
Head Office 

Mt P liant , Pe w afia. Me of Mm 
Tel; Damtae (0624) 23718 
Tefn 08554 SttECT G 
London feorwentarive 
2-5 Old Bond St., London W1 
Td 01-493 4244. Vx 28247 SC5LDN G 



When mi Rome; 

PALAZZO AL VHABSO 

luxury apartment house with funteed 
flats, avafoble for l week and mare 


PRINCIPALITY OF MONACO 
IN HEART OF MONTE CARLO 
Beautiful u nfumshed apartment, mod- 
ern fauMng, near beaches, hrgh das, 3 
rooms, ewpped btchen. aefar. park- 
ing. Fi2An/sq.m. + dagos. 
AGB4CE INfraMHXA Manta Cteo 
Tet 93 50 66 84 
Telax: 469477 


NANNIE 3 6, non smoker, oar dnrer,. 
very amable with dtikfren from bWt 
upwar*, free now: Fry 5taff-ConsU- 
tanls, 7 t-tqh St, Akfcrsnor, Hants LK: 
0252 31 n&.lM Seemed 


HOLIDAYS & TRAVEL:.- 


PORTUGAL 

7 DAYS INCLUSIVE TOURS 


FROM PARIS TO: 


LISBON FF2700 

ESTORa/CASCAiS FF2<1(§ 

COTA1TO (OPORTO). fT246§ 

ALGARVE = FF3870] 

MADERA rdt&P 

, Please Cortact f*l£v- 1 

Pmfs (1)4742 55 57, Tbc 220556- 


International Business Message Center 


BUSINESS 

OPPORTUNITIES 


HNANQAL TIMES 



WANTED TOP SALESPERSON ta mar- 
ker Cdfarno private ptacameni real 
estate partnerships ta US mfaary / 
ovikans m Europe. No kcense^dov- 
once reguved Top returns S comitis- 
pon. Mr. Cork wil be co n ducsi n g 
eitervews 16-21 Nov ember a» the 
Venfaom/Monnhftm H cfa fa y Inn. 
(0630-4503*51 EWsAsJ Mteory liv 
voters, 140 Grant Ave. Suite 2D0, 
Novtso. CA 94947 USA. 


BUSINESS 

OPPORTUNITIES 


YOUR AGBfT IN MOROCCO 

SCHAMASCH MAROC SA 

Wrte-. 42. Ave Hasson 5eghu 
CauHorca 01, A Aorae C O 
Col: 272604, Z72652. 222221 
The 2290) 


PRINCIPALITY OF MONACO 

lmport«port company 4 mfcreSttd in 
CDROTi'ae&Bng on fae European mar- 
ket cS products from any cavalry. W6 
study ait p wnuh - Write m ftendv 
Ergcsh or Itean >o Setma, 23 Bd. des 
Mow*. 98000 Monte Corla 


BUSINESS 

OPPORTUNITIES 


FINANCIAL 

INVESTMENTS 


OFFICE SERVICES 




FAMOUS JEWELRY STORE 5 WIS 5 QUARTZ WATCHE 5 

ONROOEODRIVE w«. private logo 

TOP LOCATION. BEVERLY MILS. CAU- ^ 

FORNIA. Newly redecorated mdudes ni^iaan 

fall workshop Lmv rent, teg etelem _ 

lease, breephon d op porrjwy Rhone TI*. 282 /V Tel: 0041 / 22/55 4042 
owner: 21 3-271-227/ or write 
Mr. Edward. 311 Ocean Ave, Surte 301 
Sava Morses, CA 90402 . 


PARIS & SUBURBS 


COTE D’AZUR, MOUONS beaunW 
readenhcJ Proven^ol properly, 5 
rorms, wry lovely garden* 2^000 
•ijyi. Pool FZlOo.tXn. Promonan 
fAwart ‘Ut RuW 06000 hket Tel: 93 
d? 37 37. iLk 461235. 


FOR SALE 

US t VERY MODERN ptet of ba- 
ring nenerdjftarig wefer rn plastic PET 

of lMkters/hour.at40 l riies?rom Ls- 

bartJarrugrf, W«f roads. OrtxB for 
W to USAiArobtan Counted Far 
dl del-als, reply Mr. Corsfnr. Av. Con- 
ofaeioFemandade Sa«ta N“ 1, 1QQ0 
Laban W- 680568, K» *y$7 imam. 


CTFWORE* UK COMPAMS 

Fiduciary and trust services, doroafe- 
hon. cornpwiy (omwon, in t er neh o n^ 
la*, yacht regn e qnon. bark aceoums 
ess oW shed. occ mi n l i n ^ mtd ud tele* 
services eft When norm Services ltd., 
23 Calege W. London EC48 2RD. 
Tel: 01-248 0802. Tbu 884587 G 


LOBGN 

Ffduatry & trust services I Company 
lor mown* & dondnSion I IntvncfaaR- 
d tax I Bank accounts eCoh fa he d I 
Gerard busrass advice & uss atanc e I 
JPCR. 17 Widegcee St. London El 7 HP 
Tel- 01 777 1474 Tit 873911 G 



RANK R&XBENTAT 1 YE IN US. 

Ourfty N Y. fi-m mterestad m repro- 
serang fereiprj bank or nvestmeel 

^ r « te * ^rasrasn Teh 

712-759-5100 New York 


RAMONA AND invesbram A <te>, 
wrorted -ruiceBeai co nueniuu . IBC 73 
New Band St. landon Wl, England 


BUSINESS SERVICES 


WTL 

BEAUTffUl PEOPLE 

UNUMRB1NC 
U -SJk. A WORLDWIDE 

A co m plete pcrsond& business serviee 
provid in g a urn* Colletfion of 
tdttied. verwraSi miMnaual 
rtefanduab far ei sead & 
p ro maeond cceawera 

212-765-7793 

212-765-7794 

330 W. 56lh St. N.Y.C. 1001? 
Service Zeoresentatives 
Needed Worldwide. 


LETTER-eOK AND ADDRfiS ta rent 
in G&4EVA fcwggrted). Forw a rde d 

letters from Geneva or near France 
wider neuad wioppar. Write G 18- 
11547Z Miens. CH.1211 Geneva 3 


USS» MILLION. Secured kxei need- 
ed- Please reply to Ban 2213, IJtT, 
Fnedndatr. 15. 6000 FnaAfart/Mnin 
or tet 49-89/644750 


OFFICE SERVICES 


Your Office in Germany 

we are “Al Your Semce" 

* Complete offree servos at two 

prntige addeaes. 

* ruffy e quippe d offices far the short 
terra or the long terra. 

6 t nt eroaSono O y trained office and 
prafessiond staff at your tfapasaL 

• Can be bgdh used as your corpo- 
rate dentate for Germany ! Europe. 

• Yaw busness apertf te con port 
■ ivneuksely. 

lauce BuriMse Sanrkae GmbH 
Lorrco-Hcos am Hddt qeerpmfc 
Jig m onst aes e 72 
6000 Fririfart cm Ate* V 


SECRETARIAL 
POSITIONS AVAILABLE 


MINHIW 

En^sh, Betate, Duld. or German 
secretoim, knowledg. of French ro 
»«ed, Engfah shorthand BSrraud 
triesss. Write or phone: 138 Av^u. 


Pen t nw 
WraNATIONAl 
SECRETARIAL POSmONS 

IliBDAYS - 

* tho WT OaraMed So<W 


1:11, .Mmwm 


f iT: 










LOW COST FUGHTS 


. ICHANDA® 

LAST MINUTE FARE . 
twwvctfion outhonmd witfan 
.3 days prior to departure 




El 



xf-'v! 


^educational 

POSITIONS AVAILABLE 


32.8001 Zwich 


TeL- 69-59 00 61 
Telefax.- 69-59 57 70 
Tete- 414561 


YOUR OFFK£ W PARIS 


■■ ready when you need tt. 
even tar a couple of boars. 

• FuSv f u ndiand modern offices and 
coiwrercB roam ta renf-bylhe' ‘ 
hoie, day, month, etc. 

• Your toned ar. p ermo n ed bae. 

• Prestige raring oddteu. aB services 

80X5 8UXO EXPRBS '. 
“ler REUS D'AFFAIRES" 

91 Fbg. SMtaMtfo 75008 Fade 
Tel: 42.66.90.75, Tetae 642066 F 


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