Skip to main content

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

See other formats






The Global Newspaper 
Edited in Paris ■ . 

/- printed Simultaneously 
in^Parb, Lopdon, Zurich, 


INTERNATIONAL 




■ 


WEAtha DATA APPEAR ON PACE IB 


Published With Hie New York Times and The Washington Post 


Martd- _ 7 00 >M S waatiaHl 1X1* 

F.M* l»> ***"-***■ «»B* 

«*»- — **■» Vta,-.-Tt«aOflJ 

Oca 1 -50 ?. **«*“— — UAE 

G>«e«— - IMP 1 JZSH uS (t*« ;_$3£5 

l,*, I~1iU)to nCgcpa. TO* Scgrvno -_J«D 


v No. 31,966 


48/85 


LONDON, THURSDAY, NOVEMBER 28, 1983 


ESTABLISHED 1887 







Era of Innovation 

{ Ties lts Hopes for Economic Revival 

To a Rush to Experiment, Take Bisk 


iitrp crib. 


■tSj-r . * 4 



** ^ LILLE, France — Cheerful and 

purposeful compared with its de- 
caying and lKtlgty industrial sur- 
roundings, Lille's Pasteur Elemen- 
tary- Public School resounds this 
-morning with a classroom chorus 
of “Rite Jacques." 

But the words and music -.are 
coming from computer consoles 
j: ■« .. programmed by Pasteur’s 10- and 

v~ fu^s Il-year-dd pupils. Faired off at 
. : “.\ W ‘ J keyboards’ and brightly colored 

- ’*« % jjJ*** (, screens, the children work out the 

logic, then follow the Fugfl«h m- 
„ l!\ •*** 3 Hr*k sanctions: “I. Print Frt-. 2. Play 
Do. 3. Print -re. 4. Hay ML" 

Next door, in Pasteur's kinder-’ 
a robot 

_ . , tortoise. 

Using instruction cards, they teach 
it-a pattern of moves from a draw- 
ing the pupils have mads, that 
watch in entranced silence as the 
robot trundles over a sheet of paper 
taped to the floor, rqnoducing the 


■ . ; : ■'= iasstv. «zr» to D°- *■ ran -re. 4. Play Mi 

| . ">••• - Next door, in Pasteur's 

W garten, children program 

jjvK*^ «semWing a dear plastic 

♦* 1 Wii'* TTttnn mctmr+vrvrt nnrAr vW 




:.:*?5SiS 


■«icd aaj 




& 


• - . 

-- • j-Uj ft.- —A. 


-•-Slhbl ... 

■•-uS'SsV 

y£$i 

u 

•• Ma y-, t 

-sMsahii 
''•wfcmilSg 
». Duban. 


“Computers not only familiarize 
'die children with information tech- 
nology, they also are proving pow- 
erful teaching tods,” explains La- 
den Marie, a computer-learning 
consultant here in northern France. 
“Kids have no inhibitions about 

lwnntng from mnrhrn^ * > 

At a computer console, Yasnrin, 
10, and Arnaldo, 11, work as a 
team on an educational video 
game, using an electronic pointer, 
called a mouse, to compose sen- 
tences from words displayed on the 
screen. Tiny am dear about why 
they must master computer tech- 
nology. 

“In the year 2000, there won’t be 
people in factories, only robots,* 1 
Yasnrin says. Arnaldo chimes in: 


“And only people with, computers 
.can have jobs." Wherever they 
teamed it, the two children are 
echoing the revolutionary views of 
their doers. 

; In what amounts to the most 
rrmdgmCT fi rfi ^ngg in West Euro- 
pean economic thinking since 
World War D, governments and 
industries, academics . and many 
trade unions are experimenting 
with new approaches to allow ca- 
reers to be more flexible, encourage 
more c omme rci a l risk-taking and 
make their' businesses more com- 
petitive. - ; • ■ 

- The changes axe an attempt to 

- reverse a demur in Europe's eco- 
nomic strength that is appar ent in 
high, stubborn unemployment, lag- 
ging technological development be- 
hind the United Stales and J apan, 
and agrowing mood that European 
political leadership has lost any vi- 
sion of a better future. 

A few hundred yards away from 
the Pasteur Elementary School, II 
unemployed men and women are 
earnestly discussing how to start 
their own businesses in a seminar 
lille's Boutique de 
or Business Shop. This is 
one of 26 oentos set up smee 1982 
throughout France; owned and op- 
erated by management specialists, 
they teach. the basics of entrepre- 
neurship, the golden dream. 

Entrepreneurship generally 
starting an- innovative busi- 
ness and it implies a readiness to 
take risks and an eye for creative 
or services. Today’s folk 
: are such successful entrepre- 
neurs as Serge Crasaianski of 
France, whose Kis shops for rapid 
film development and shoe repairs 
have spread around the world, or 
Sr CGve Sinclair of En gland, who 



Gorbachev Asks 
Mutual Test Ban 
To Build Trust 


Schoolchildren in Rennes, France, studying with the help of a computer under an Education Ministry project. 


Getting Down to Business 

Europe's New Approaches to Competition 

In the face of American and Japanese competition, is 
Western Europe irreversibly declining economically? 
Can it catch up technologically? Are European econo- 
mies too rigid to change? Can Europe move from a 
managerial to an entrepreneurial society? 

This is the first of a series of articles, appearing from 
time to time, that will focus on these questions and some 
answers. 


invented and sold internationally 
the first personal computer with a 
price under SI 00. 

In this Ulle workshop session, 
the entrepreneurs come on a small- 
er scale. 


A maintenance engineer, for ex- 
ample, seeks advice on faster ser- 
vice in home-heating. A driving in- 
structor of North African origin 
plans a bilingual school for immi- 
grants handicapped by poor 


French. A cook dismissed by Re- 
nault, the state-owned automaker, 
wonders if northern France, which 
has long favored beer and Bor- 
deaux wines, might be a market for 
Burgundy. An engineer who 
worked for a carpet manufacturer 
that went bankrupt bought his old 
laboratory and plans to run an 
automated two-man operation that 
will sell high-quality carpeting to a 
U.S. company. 

Of about 160,000 new businesses 
in France in 1985, government sur- 
veys indicate that nearly half of 
them wall be started % unem- 
ployed men and women. More than 
700 of them — and nearly 2,000 
jobs — involved help from Busi- 
ness Stops. 

This trend is not confined to 
France. In West Germany the 
number of new businesses, which 
declined during the 1970s, jumped 


to 260,000 last year. ‘‘Entrepre- 
neurship increasingly is viewed as 
the way of helping us get out of 
economic difficulty." says Konrad 
Seitz, a top aide to Hans- Dietrich 
Genscher. West Germany's foreign 
minister. 

The French nati onal employ- 
ment. agency will pay a worker’s 
full unemployment benefits in a 
lump sum to provide start-up capi- 
tal for a small business. Despairing 
of ever getting a new salaried job, 
more and more of the French are 
going into business for themselves, 
usually using the skill for which 
they can find no permanent em- 
ployer. 

Labor-saving automation and 
entrepreneurship were practically 
taboo in recent years in Lille, a 
stronghold of trade unions and so- 
cialism. Built on some of the heavy 

(Continued on Page 5, CoL 1) 


EALBJt 

roaxiat 


tfCairo Wants 





- - . i 2-. 


-went, 

"T ia-sre 
5- 

-•-* t St 


!* aauTMC.« 

»** •vt-tea* 
>*■ ~ »St 
«5=* %*•» 


*Vt IBBBj 

*=tt w r«:«i 


■VxWWZti, 


..-Si - • * 



. tteAtsaciaud Prtss . 

CAIRO —Egypt has asked Mat 
ta tx> extradite the surviving hijack- - 
er of an EgyptAtr airliner, for trial 
in Egypt, the official Middle East 
News Agency reported Wedncs-. 
day. 

The agency said that Egypt had 
formally requested the extradition 
of the survivmg hijacker “so he can * 
be tried under Egyptian law since 
this is Egypt's right under interna- 
tional law.” 

Mai use officials said Omar Mar- 

zoaki,2Q; who had a Tbnisiaa 

Ciu* port, was the only survivor 

gunmen who commandeered an 
EgyptAir Boeing 737 on Saturday 
on a flight from Athens to Cairo. 

The others were among 58 peo- 
ple who died when Egyptian com- 
mandos stormed the plane late 
Sunday. A woman was lolled by the 
hijackers before the assault. 

President Hosni Mubarak has 
daimed that the hijackers were 
members of an undisclosed Pales- 
tinian group opposed to the Pales- 
tinian liberation Organization and 
acted with Libyan backing. 

■ Maltese Investigation 
Malta's investigation into the hi- 
jacking will include an attempt to 
establish whether Libya was in- 

jjvdved. United Press International 
reported from Vafletia- 
“If you were the investigating 

magistrate and you beard these sort 
of rumors going around, don’t ^ou 
think you would want to look into 
them?” the deputy government 
spok esman, ’ Arthur Pace, said 
Wednesday. 

• Mr. Pace said he ruled out sug- 
gestions that any of hijackers es- 
caped in the confusion that fol- 
lowed the storming of the aircraft. 

“I think we have accounted for 
all the passengers now.” he said. 
“Nobody is missing from the list” 

■ Air Piracy Conference 
Internati onal ai rim e and airport 

representatives opened -a two-day 
{Continued on Page 2, CoL 4) 







... .... v»* .. • 

. ----v - -WiV*.: 


NVT 


Wooden dhows, above, at 
anchor in the harbor of 
Zanzibar. Hashun Saddi- 
que, left, recalls when the 
city was a trading center. 


Zanzibar Then , Now 


Tanzanian President Rekindles an Island’s Optimism 



By Edward A. Gargan 

Vew York Tima Service 

ZANZIBAR, Tanzania ’ — There was a time, 
Hashun Saddique remembers, when everything 
seemed possible on this island. Fortune-seekers 
and Arab traders, fresh from white-hulled steam- 
ers and peeling wooden dhows, hurried down 
deeply shadowed streets to trade in gold and ivory, 
cloves and -cinnamon and nutmeg. 

“I had a ship hawker’s license,” recalled Mr. 
Saddique, bis chair creaking as he bent forward “I 
was allowed to go on board ships and sell my hems 
— antique silver and carvings. I was doling in 
coins also. Whh these antique things, you could go 
anywhere, ta any country in (he world and earn 
your grub.” 

The old days are tangible mostly in the odd 
silver candelabra or wooden bust under the dust of 
Mr. Saddique's antique shop. Now, the 76-year- 
old dealer concedes, there is little to do, little to 
1 trade. He asks if a visitor requires the services of 
his son, Rashid, to exchange a little money. 

Along the warren of narrow streets, where elabo- 
rately carved wooden balconies sag from 19th- 
century buildings, the past lingers the way a cigar’s 
aroma clings to the edges of a room. 


But today, there is more optimism on this island 
which merged with Tanganyika in April 1964, 
largely because of the rise to national power of a 
man who began his career here as a schoolteacher. 

Ali Hassan Mwinyi, 60. Tanzania's newLy elect- 
ed president, held a series of government posts 
before becoming vice president of Tanzania and 
president of Zanzi bar and Pemba, its sister island 
to the north, in April 1984. 

The islands had been crippled economically and 
politically by the harsh authoritarianism of his 
predecessors. Swiftly, however, he reshaped their 
constitution, liberalized economic policies to per- 
mit foreign investment and greater trade, and 
encouraged freedom of speech. Zanzibar main- 
tains some autonomy from the mainland through a 
separate constitution. 

“Under J urn be, the people could not get enough 
to eat,” said luma, a former government function- 
ary and now an occasional dealer in used bicycles, 
referring to Sheikh Aboud Mwinyi Jumbe. Mr. 
Mwinyi’s predecessor. “Businesses were not al- 
lowed to import anything from abroad." 

“Everything is O.K. now,” be said. “People are 

(Continued on Page 2, Col. 2) 


U.S. Aides Say Damage 

:nse 



By Joel Brinkley 

tei-Timct Service 

WASHil- GTON — Senior V.S. 
intelligence officials say the United 
States has been immensely dam- 
aged by the series of espionage 
cases disclosed in the past week. 

One senior Reagan administra- 
tion official said the new disclo- 
sures, along with other major spy 
cases in the last six months, add up 
to “an extraordinarily bad year for 
us — it’s going to cost us millions to 
recoup, if we can." 

Another administration official 
said: “There are more of these 
cases coming. Don’t think it's over 
yet.” 

He said Vitaly S. Yurchenko, the 
Soviet defector who returned to 
Moscow on Nov. 6, provided infor- 
mation that probably will lead to 
several more arrests. 

A former analyst with the Cen- 
tral Intelligence Agency, Larry 
Wu-Tai Chm, who was arrested 
Saturday and accused of spying for 
China for more than three decades, 
was indicted Tuesday on espionage 
charges. 

In addition, associates inter- 
viewed Tuesday said that Jonathan 
Jay Pollard, a navy counterintelli- 
gence analyst who was accused last 
week of spying for Israel, had 
boasted for 10 years about working 
for the Israelis. Two Israeli news- 
papers, in reports Tuesday, identi- 
fied Rafi Elan, who was an intelli- 
gence adviser to Prime Minister 
Menachetn Begin, as Mr. Pollard's 
recruiter. 

U.S. intelligence officials said 
that of the four persons arrested 
since Thursday on spy charges, 
Ronald W. Pelton, a former em- 
ployee of the National Security 
Agency, appeared on initial assess- 
ment to have caused the most 
harm. He was caught as a result of 
information provided by Mr. Yur- 
chenko, according to the Federal 
Bureau of Investigation. 

While employed as a communi- 
cations specialist from 1965 to 
1979, Mr. Pelton had clearance to 
use the most heavily classified in- 


telligence, designated sensitive 
compartmentalized information. 
Although officials would not de- 
scribe his job precisely, they said he 
was in a position to know the ca- 
pacity of many of the security agen- 
cy’s highly sensitive satellites and 

other intelligence-gathering tools. 

The agency uses photo-recon- 
naissance satellites, listening sta- 
tions on the ground and in the air, 
and other devices to photograph 
and intercept information. Tbe 
agency, the nation's most secret in- 
telligence organization, is most ef- 
fective when it uses advanced ca- 
pacities that the Soviet Union does 
not know the United States has. 

Mr. Pelton apparently told Mos- 
cow how some of the agency’s intel- 
ligence-gathering devices work, a 
senior intelligence source said 
Tuesday. Another intelligence offi- 
cial said, “He could have caused 

(Continued on Page 3, CoL 2) 


By William J. Eaton 

Las Angeles Times Service 

MOSCOW — Mikhail S. Gorba- 
chev appealed to Presideni Ronald 
Reagan on Wednesday to join 
Moscow in a moratorium on nucle- 
ar rests as a way io build trust 
following the Geneva summit con- 
ference. 

While declaring that the meeting 
bad produced a positive, stabilizing 
effect, the Soviet leader also re- 
newed his warning that arms reduc- 
tion would be “impossible" if Mr. 
Reagan proceeded with his Strate- 
gic Defense Initiative. 

“We hope what was said in Ge- 
neva on SDI is not the last word.” 
Mr. Gorbachev said, referring to 
Mr. Reagan’s refusal to give up 
plans for a space-based missile de- 
fense system. 

Mr. Goibachev delivered a wide- 
ranging report to the Supreme So- 
viet, the nominal parliament, on his 
meeting with Mr. Reagan last 
week. 

He departed from his prepared 
text to urge the United States, 
along with other nuclear powers, to 
agree to a test ban that might allow 
some form of international verifi- 
cation. 

The Soviet Union announced 
last August that it had suspended 
nuclear tests until Jan. 1, and Mr. 
Gorbachev said that the moratori- 
um would be extended if the Unit- 
ed Slates would refrain from test- 
ing. 

The Reagan administration has 
said that it must detonate nuclear 
explosions to catch up with Soviet 
advances in weaponry. 

“We placed this proposal before 
the president in Geneva,” Mr. Gor- 
bachev said of the test ban. “The 
answer was silence.” 

“There is still time and 1 think 
the leaden of the United States and 
other nuclear powers would agree 
to it if they understood their re- 
sponsibility before Lhe world," he 
added 

“This is an appeal from the Su- 
preme Soviet to come to agreement 
on this major issue of modem 
iim«-t.’' he concluded. 

Although his power comes from 
bis position as general secretary of 
the Communist Party, Mr. Gorba- 
chev is also a deputy of the Su- 
preme Soviet and a member of its 
Presidium. 

“We value the personal contact 
established with the U.S. presi- 
dent,” he said of his meetings with 
Mr. Reagan, the first encounter be- 
tween Soviet and U.S. leaders since 
1979. 

“It is important that the dialogue 
did take place — it is in itself a 
stabilizing factor in our difficult 
times," he said. “But we are realists 
and must say directly that solutions 
to major problems related to end- 
ing the arms race were not found at 
the meeting." 

Mr. Gorbachev said that the real 

(Continued on Page 2, CoL 2) 


f^The U.S. Tax Ref orm Effort: A Favor Here, a Favor There 


' 

... f*P A 




By David E Rosenbaum ■ 

New York Times Service 

WASHINGTON — More than 
two dozen exceptions to the provi- 
sions of the new tax revision legis- 
lation by the -House Ways and 
Means Committee were inserted in 
the legislation personally on the 
last . day of drafting by the commit- 
tee chairman. Representative Dan 
Rostenkowski 

■ The exceptions, euphemistically 
called “transition rules,” are in re- 
ality special favors to reward legis- 
lators who backed the chairma n in 
the committee or to gain the sup- 
port of influential lawmakers 
whose help he wffl need to guanm- 


diums, convention facilities and 


But exceptions would be allowed 
. for stadiums in Cleveland, Miami. 
Chicago, in Memphis, Tennessee 
and at the Meadowlands in north- 
ern New Jersey, for a convention 
center in Miami and for parking 
garages in Memphis and Charles- 
ton. South Carolina. 

AI together, the special tax 
breaks would cost (he. Treasury $2 
billion to S3 billion a year in lost 
revenue, more than twice what the 
government spends on cancer re- 
search. 

But from Mr. Rostenkowski's 

point of view it was a small price to 


rates paid by every taxpayer in the 
United States. 

Special favors in tax bills are 
commonplace in the Senate, but 
experts said Mr. Rosienkowski, an 
Illinois Democrat, might have gone 
further this year than his predeces- 
sors wfao beaded the House tax- 
writing committee. 

For his part, Mr. Rosienkowski 
makes no apologies for his wheel- 
ing and dealing to pick, up votes, 
“Politics is an imperfect process,” 
he said just before dawn Saturday 
when his committee wrapped up its 
wort. 

Representative Bill Freeze! of 
Minnesota, one of the most influ- 


Dan RostenkowsM 


tee adoption of the measure next pay to win approval- of the most ential Republicans on the Ways 
month on the House floor. sweeping tax legislation since and Means Committee, said, The 

For examplejhe legislation, as a World War II, a bill that would rule is that if you're on board you 
rule, would prohibit the use of tax- otherwise end hundreds of tax ad- get something that normal policy 
exempt bonds to finance sportssta- vantegesand sharply reduce the tax wouldn’t get you." Like most of his 


Republican colleagues, Mr. Frenzel 
opposes the legislation and re- 
ceived none of the favors. 

“No one gels punished," Mr. 
Fraud added. “It's not a system of 

punishment. It’s a system of re- 
wards." 

One of those most generously 
rewarded was Representative 
Claude Pepper, ihe Miami Demo- 
crat who is chairman of the House 
Rules Committee. Mr. Pepper’s 
committee will set the terms for the 
House debate on the tax legisla- 
tion. specifying precisely which 
amendments will be m order. If Mr. 
Rosienkowski gets his way in the 
Rules Committee, few if any 
amendments will be permitted. 

Chances are that no one in Con- 
gress except for Mr. Rosienkowski 

and Mr. Pepper, including the 
1 Continued on Page 2, Col. 3) 


INSIDE 



Andre Bergeron, leader of the French union Force Ouv- 
riire, revealed the union had accepted U.S. funds. Page 3. 


■ U.S. and Egyptian officials 
said that Libya was behind the 

EgyptAir hijacking. Page 1 

■ China revealed an effort to 
quel! student protests over 
"open door" policies. Page Z 

■ US. and Angolan officials be- 
gan meetings on UNITA and 
the future or Namibia. Page 3. 

■ Budget ads have lowered Ibe 

horizons for the Strategic De- 
fense Initiative. Page 3. 


SCIENCE 

■ Hiram Maxim’s “killing ma- 

chine” is 100 years old and still 
going strong. Page 6- 

BUSINESS/ FINANCE 

■ Islamic law conflicts with 
budding a Western-style econo- 

v in Saudi 


■ Veba AG, the West German 
energy and trading concern, 
said that nine-month profit is 
up 19 percent. Page 13. 



Mikhail S. Gorbachev 


London, Bonn 
Likely to Join 
SDI Research 

The Associated Press 

LONDON — Prime Minister 
Margaret Thatcher said Wednes- 
day that both Britain and West 
Germany are likely to sign agree- 
ments before Christmas to partici- 
pate in research on the U.S. Strate- 
gic Defense Initiative. 

If Britain and West Germany 
join in research on the program of 
space-based weapons, they would 
be the first American allies to do 
so, following an invitation to par- 
ticipate made last March by Caspar 
W. Weinberger, the ILS. defense 
secretary. 

Mrs. Thatcher appeared with 
Chancellor Helmut Kail of West 
Germany ai a joint news confer- 
ence following a first round of talks 
Wednesday morning. 

The prime minister was asked 

Budget cuts have lowered the 
goals of the Strategic Defense 
Page 3. 

whether she and Mr. Kohl had dis- 
cussed participating in the U.S. 
program to explore the possibilities 
of a space shield against nuclear 
missiles. 

She said that she and the West 
German chancellor discussed the 
space initiative and added: "It Is 
my belief we are likely to sign an 
agreement, both of us, before 
Christmas." 

Mr. Kriil appeared less positive. 
“Before Christmas," he said, “we 
will, within the cabinet, take a deci- 
sion as to in what manner we as a 
federal government can draw an 
outline, and if we do this what this 
outline will be like." He said that 
matters then would “proceed with- 
in that framework." 

There was no immediate indica- i 
lion of what such agreements might' 
encompass. Britain had demanded 
a 51 3-billion share of SDI projects 
buL withdrew that condition last 
month. 

Mr. Kohl has been mare cau- 
tious than Mrs. Thatcher in his sup- 
port of the U.S. program, partly 
because of domestic political oppo- 
sition and partly because West 
Germany is more sensitive to East 
bloc concerns about Lhe program. 

Mrs. Thatcher also hinted 
strongly that Britain would shortly 
pud out or the United Nations 
Educational, Scientific and Cultur- 
al Organization. 

She noted that Britain gaye the 
required one-year notice of inten- 
tion to withdraw unless the 161- 
nation Paris-based organization 
underwent genuine reform. 

"The notice of withdrawal 
stands," she said, “unless by any 
chancre it is rescinded.” 

Britain is expected to make its 
final decision in early December. 

The United States withdrew at 
the end of last year. Both countries 
have complained about high 
UNESCO administrative costs and 
the politicizing of programs. 

Mr, Kohl did not comment on 
UNESCO, but it is believed that he 
would prefer Britain to continue to 
work for reform from within the 
organization. 

Summing up her talks with Mr. 
Kohl, Mrs. Thatcher said they had 
discussed at “some considerable 
length" lhe results of the U.S.-Sovi- 
et summit meeting in Geneva last 
week, 

“We are both very pleased with 
the results of the summit." she said, 
“and very much aware that a great 
deal of work will have to be done to 
translate those confident new 
hopes into reality." 

Mr. Kohl said it was very impor- 
tant that more Germans in the east 
and west be able to visit each other. 

Concerning a possible visit by 
Erich Honecker, lhe East German 
leader, to West Germany, Mr. Kohl 
said, “It is a matter for him to 
deride." 

He added: "It is up to him to 
agree a dale. I will not take part in 
this rather slupid discussion in my 
own country whether he comes or 
doesn't come.” 


■i 


■^•■KOtmwaHstSw 


C *'7T*vT W « '-'V 










k- 


* Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


27. S. 9 Egypt Believe Libya Masterminded EgyptAir Hijacking 


WORLD BRIEFS 


By David B. Ottaway 

Majfeinjfon Rest Service 

WASHINGTON — Three days before the hijack- 
ing of the EgyptAir jet on Saturday, a meeting of 
Libyan officers ended with a communique pledging to 
strike at TJ.S. interests in the Arab world and to 
support “materially and morally" those fighting the 
“traitorous regime" in Egypt. 

While there is no proof of Libyan involvement in 
- the latest bloody hijacking. Egyptian and US. officials 
nave indicated strong suspicion that the Libyan lead- 
'■ CT < Moamer Qadhafi, was the master mind. Fifty-nine 
; Persons died during the hijacking. 58 of them when 
Egyptian troops stormed the plane. 

For more than a year. Colonel Qadhafi has Stepped 
_ up efforts to undermine the government of President 
Hosni Mubarak and liquidate members of the Libyan 
opposition in Egypt 

Earlier this month. The Washington Post reported 
; that the Central Intelligence Agency planned to bock 
. efforts by neighboring countries to undermine Colonel 
Qndhafi's government. 

Since then, the Libyan leader has increased his 
verbal attacks on the United States and tried to use the 
disclosure to rally support at home and in the Arab 
world for his troubled regime. 

A statement issued last Thursday by Colonel Qa- 


dhafPs “revolutionary officers" after a two-day ses- Gaafar Nimriri of Sudan on April 5, Colonel Qadhafi 
sion said they had discussed “overt and coven mis- sent scores of Libyan agents and pro- Libyan Sudanese 

pirtne” 4 ,4 4Htf i«ATI n f «rrovn1 Ilf IAT1 ttfV »/> ral Ama 


sions” and ordered “any counterrevolutionary 
attempt" crushed “without having to refer to any 
quarter." 

In addition to committing themselves to waging 


to set up “revolutionary committees” there. 

They have taken advantage of the new government’s 
plan to hold free elections for a civilian government by 
next April 5 and have established themselves in Su- 


the battles of Arab unity by force." the officers dan’s fragmented political life, U.S. analysts say. 

U|L. ftAnulne fMIAlltriArt* 1 in Qltdon *n»n V 1 t li. n T 


pledged support for “the popular revolution" in Sudan 
as well as the “popular masses" in Tunisia. 

They also pledged to track down “the dogs of the 
CIA" and assure "their physical liquidation." 

Libya’s state radio charged Tuesday that there had 
been “clumsy and reckless behavior" by the Egyptian 
commandos who stormed the hijacked plane in Malta 


The situation in Khartoum has become so unsettled 
that the State Department issued a travel advisory last 
week warning Americans to avoid the Sudanese capi- 
tal because “known Libyan terrorists” freely roam the 
streets. 


• On March 31, after a meeting of Arab “revolu- 
tionaries’* m Tripoli. Colonel Qadhafi established a 


on Sunday night and that “respocribffity for the “National Command oTr^I^ F t^hT^ to M 

massacre lies on the shoulders of the Egyptian rev World." Its stated goal is “to libeate and unite" ■Hi'nn firtrf fmessitii 


Referring to The Washington Post report, the Liby- 
an news agency, JANA asserted that the United 
States “has given the green light to its agent, the 
Egyptian regime, to cany out aggression" a g a ins t 
Libya. 

In recent months, some UJS. analysts have noted 
several developments suggesting an increase in Colo- 
nel Qadhafi’s commitment to revolution and terrorism 
against UjS. interests and those of its moderate Arab 
allies. These include: 


Arab Wold." Its stated goal is "to liberate and unite’' 
the Arab world. 


'News reports said (he meeting was attended by 
representatives of ruling parties in Syria and South 
Yemen; leftist parties from Lebanon; opposition 
groups from Iraq, Somalia, Jordan, Sudan, Oman and 
North Yemen; and Palestinian factions opposed to 
Yasser Arafat’s leadership of the Palestine Liberation 
Organization. 

■ U.S. Increases SnrveiQance 


ironic surveillance of Libya to monitor any military Sikhs’ Highest Priest Is ^ 

“ During Service at Golden Temge } 

TbeofFidals said Tuesday that U-S. force m the Three gunmen shot and woitatfed Sahib 

area bad Jjeeu put on alert m case IAya and Egypt ^ S adx religiOB, on Wednesday, falling ^ 

became involved in fighting as the result of the hijack- Singh, die higb^t p attack occurred before dawn made tbe ' 

ing and the subsequent Egyptian sionmng of tire bodyguard, tire poh s hrine, while 1 5,000 pMpfeyreirtfeong. 

There was no direct U5. involvement m the resare £5 were criticized for appearing 

operation, the officials said. But one high official said, 

“Weareready with our forces in the event something on the devas- 

nasyoaarc.” Sn and carries when the In- 

After die attack, and the resultant large loss of We, .. A stonned tire temple to 
President Ronald Reagan seat a message to Pr esiden t ^ ve ' 0Q | g fth extremists. 

Mubarak praising him for the action, a nd ex pressmg jh^ An^ri tsar police said that Sa- 
strong U.S. support for action against terrorists. . ^ gnoll weaved a death threat 




There was no direct US. involvement in the rescue 
operation, tbe officials said. But one high official said, 
“We are ready with our forces in the event something 
nasty occurs." 

After the attack, and the resultant large loss of life, 


Mubarak praising him for the action, a nd ex pressmg The Amritsar police said that Sa- 

strong U.S. support for action against terrorists. ^ ^caved a death threat 
Several officials said that the quick U.S. mov es to from Sikh extremists in September 
back the Egyptians and tbe cordial exchange of toes- before the Punjab state elections. 

sages between Cairo and Washington had indicated w hicb were won by moderate Sikhs 
that the tension that existed at the time of tbe Achilla ^ whom he is dose. 

Lauro affair last month had passed. Tire assailants shot tire body- 

The United S t at e s, which had been critical of guard while the priest was kneeling 
Egypt’s derision to turn over tbe four hijackers of the before conducting prayers, then 
Italian enrise ship to PLO officials, intercepted the opened fire at Sahib Smgb as he 




Immediately following the overthrow of President from Washington: 


Bernard Gwertzmem of The New York Tuna reported Egyptian airhner carrying them to Tunisia arid forced ried. a Golden Temple spokesman 


it to Italy, where they were apprehended. 


Bush, Anglican Envoy 
Discuss Beirut Hostages 


New York Times Service 

WASHINGTON — Terry 
'. Waite, the Church of England rep- 
, reseD Li live seeking the release of 
II. S. captives in Lebanon, has con- 
. ferred with Vice President George 
Bush and other U.S. officials on 
ways of winning the hostages’ free- 
. dom. 

*T was able to give him a general 
briefing on the situation and to 
’ indicate some ways in which I fell 
that this matter could be resolved," 
Mr. Waite said after talking with 
Mr. 3ush for an hour on Tuesday. 

Mr. Waite also met in New York 
on Tuesday with the United Na- 
tions secretary general Javier Perez 
de Cuellar. The church envoy, who 
said he planned to return to Leba- 
non shortly, said that Mr. Perez de 
Cuellar had been “very supportive" 
of his mission. 

Mr. Waite, who says he has met 
with the Shiite Moslems who are 
said to have kidnapped at least four 
of the six Americans missing in 
Lebanon, said he had made “no 
special request” of the United 
States. 


He also said he believed the 
United States had been right to 
refuse to yield to the kidnappers* 
condition for the release of the 
four. The kidnappers have de- 
manded that Kuwait release 17 Shi- 
ites convicted for their part in 
bombings in Kuwait two years ago. 

But be added that he believed 
“there is a way forward which 
could bring about their eventual 
release without the compromise of 
principle.” 

Mr. Waite said that he had made 
a request to visit Kuwait, but there 
was no indication that the Ku- 
waitis. who have rejected the idea 
of a deal would receive him. 

U.S. officials have been ambiva- 
lent about Mr. Waite’s mission. 
They have been interested in his 
ability to make contact with the 
kidnappers and open up the first 
known serious negotiations for the 
release of Americans. But Wash- 
ington has indicated that it would 
be better for Mr. Waite not to ap- 
pear to be too closely linked to the 
United States. 






Beijing Moves to Quell 
Student Protests Over 
Widening Foreign Ties 


said. The three suspects escaped 
grid the police fawirhad a man- 
hunt, cordoning off the entire 

Golden Temple complex and sur- 
rounding shops. Security was tight- 
ened throughout tbe state. 



SaMbSiiigb 


By John F. Bums 

New York Times Soviet 

BEIJING — Chinese leaders 
have summoned an emergeiKy con- 
gress of the Communist Youth 
League in an attempt to quell 
mounting student protests against 
Deng Xiaoping's so-called “open 
door" policies. 

Tbe Communist Party newspa- 
per, People’s Daily, reported Tues- 
day that the Youth League will 
meet in special session Thursday. 
Without mm tinning the protests, 


tests uver Greek Air GjnlroBersoa Hunger Strike 

• ATHENS (Renters) — About 90 Greek airport on a hunger 

\ftpi n fin I ItfMB strike have collapsed on duty and three have sunerwfieart attack 
ilClgU A Athens airport sources add Wednesday. ' 

, , . . _ .- The protest action strike was begun in support of demands for more 

the orderly political atmosphere of w ^ improved benefits. Under Grade la w, ar tra ffic coyroDm, 
recent years. electronics workers and administrative staff members gre forbidden to 

The development followed two step work, but they have been refusing food smdgpbgwkfcim deep sk* 
student marches in recent weeks to Monday. As a result, many have fainted from Bdutfibk . 
Ttenanmen Square in the heart of Greece’s national airline, Olympic Airways* canceled a8 but three 
Beijing. Similar marches have oc- f igh ts W ednesda y because of the danger to pa ssenger ’safety Meanwhil e, 
curred in at least three other cities the protest broadened with a call for aH dv3 aviation peoauad, totaling 
since September, some of them re- about 2,000, to join. 
suiting in with police. On 

each occasion the ostensible target 
has been Japan, but the underlying 
motive appeared to have been to 
call attention to dissatisfaction 
with Mr. Deng's policy of broaden- 


the newspaper said the conference ing foreign ties. 


l aviationpecsoaod, totaling 


would urge young people 
in the forefront" of the 


to “stand Concern about the protests re- 


EXECUTION IN LEBANON — Palestinians in Sidon, 
Lebanon, gathered Wednesday to view the bodies of three 
women and a man killed by a guerrilla firing squad. The 
dead persons were accused of collaborating with Israel 
during die three-year occupation of southern Lebanon. 


des, and to maintain discipline. 

The paper also said that there 
would be changes in the 
of tbe Central Committee of the 
league, suggesting that Mr. Deng 
has ordered a shake-up in an at- 
tempt to get control of the situa- 
tion. Sudden moves to convene 
party gatherings have been rare in 


e new poii- fleets the history of student move- 


ments is modem China, which 
have often been a prelude to broad- 


CANBERRA, Australia (Reuters) — Foreign Minister Mjgpef dTs- 
coto Brodmann of Nicaragua said Wednesday Aar amJ-govemmem 
guerrillas killed 32 children Tuesday in a raid oft a Kkaraguan school 
Father D’Escoto, who arrived Tuesday esa a six-day visit 10 Anstrafia, 
said that the 15-year-dd son of his drrrez.waaoae of Acre kSed in' the 
attack carried out by goenillas, who be said feed sttefaiae gum at the 

chil dren - - 




is whether the demonstratiems have 'IS 

been spontaneous, as official ac- f ddTCSS Prcs 9° b mCa ^toa, dmfcg which Ik called 

comtsa^at^or wr«^pired w UA 5Uppan ** lb *&*& a * opposing Nicatagna’s 

by party offidals sedcing a means SanduustgovemmeaU . • 

to undennme Mr. Deng's policies. , A . . „ 

What is dear is that Mr. Deng DOCID2 OrdCrS QlflffffKS Iff '74fl8 

■ SEATTLE (IHT) - Boeing Co. ® mstmoed arfines and mil 

So*smMtS l hS awationauAorities around Aeworidfea fla fastrac ti md modifications to 

mto support for his policies. Party to747 jumbo je^ d, 8 sendcelidBeSL^reitt «ud that a com Aould 

onstrations and admonishing Stu- TTfrrftrr 'irii t nrit rnimrrtrif 

dents to work wiAin author^ thf . Air lines rr ^' rb Hi gftpeopledied TV 

on pjy > se ^° n ?? 

^^ttostirup-anti- ^ 

loragn sraumenL Japan Air Lines and tbbtinttrithcr OT bUiman already had 

In an effort to ctH3pt Ac pro- ordered “etwee for ; M ^wksc Transport Ministiy 

tests, the government plans lo hold .rqf yfrrf s ^in I 


tests, or at 

EC Ministers Restore Budget Funds; Not Enough, Delegates Say 3E 


BRUSSELS — European Com- 
munity treasury ministers, overrid- 
ing objections from Britain and Ire- 
land. agreed Wednesday on a 
higher budget for 1 986. going along 
with the European Parliament's 
wishes to restore some items that 
had been cut. 

.After 19 hours of negotiations, 
the ministers agreed to an increase 
of 821 million European currency 
units (S698 million). They had 
hoped to avert a full-scale financial 
dispute with the Parliament, largely 
over cash to finance enlargement of 
the community. 

But major political groups in the 
Parliament said that they could not 


accept the budget, which restored the seal 
less than half of the two billion their sta 
European currency units (S1.7 bil- the assei 
lion) cut by tbe Council of Minis- The I 
ters in September from the original powers ’ 
budget proposed by the EC Execu- ters. It is 
live Commission in Brussels. the asset 

Spain and Portugal which job bourg, h 
be EC on Jm. 1. wifi receive about The P 
321 million ECUs of the increase, vote on l 
about half the amount the Parlia- its offic 
mem had sought to reinstate on restore i 
their behalf. last-mi: 

Representatives of the Socialist reached. 
Christian- Democratic and Liberal Britan 
groups, which hold two-thirds of penditui 


the seats in the Parliament issued the ECs poorest members, argued 
their statements after a meeting of that even the revised budget was 


the assembly’s budget committee. 

The Parliament shares budget 
powers with the Council of Mutis- 


too small. 


Italy also opposed be compro- 


ters. It is one of tbe few areas where ouse Proposed by Lraembourg, 
the assembly, which meets bStras- wbch currently holds the ipreaden- 


bourg, has a dearly defined role. 

The Parliament will take a final 
vote on the budget next month and 


cy. but fell mto line with the major- 
ity of tbe 10-member community. 


In a separate development 


its officials said it was likely to Wednesday, Jacques Delors of 
restore the cuts entirely unless a France, the commission’s presi- 


last- minute compromise was dent, rejected as inadequate pro- 
reached. posais for limited reform of the 


Britain opposed increasing ex- ECs founding Treaty of Rome that 
pen di hires, while Ireland, (me of are scheduled to be considered at 


Monday’s summit meeting in Lux- 
embourg. 

Mr. Ddors said proposals that 
foreign ministers spent Monday 
and Tuesday discussing would not 
produce the degree of economic 
and political revival envisaged at a 
June summit meeting in Milan 

Those proposals wonld maintain 
the present system under which any 
state can block legislation by a 
veto. Mr. Ddore favors majority 
voting. 

Hie ministers are to meet over 
the weekend for further discus- 


tests. or at least to channel them 
bto support for his policies. Party 
newspapers have run a spate of 
articles criticizing tbe Beijing dem- 
onstrations and admonishing stu- 
dents to work within authorized 


their own, and not to stir up “anti- 
foreign" sentiment. 

In an effort to co-opt the pro- 
tests. the government plans lo hold 
rallies m Beging and other cities on 
Dec. 9, the 50th anniversary of a 
student uprising in the capital that 


played a role in prompting Cbumg . . . . 

Kai-shek and his Nationalist forces ORLANDO, Florida l ffPfrr A-Tcfl aal judgelta dismissed charges 
to join the Communists in a united agamst >UA Armyartgerye^eit accasedof p a r tici p ating in a plan to 
front against Japan. In a prelum- seB IJAOmni^tanfc nmsajexto Iran, •but hasrefusetito throw out charges 
nary move last weekend, veterans Agains t six other riefwifhn rt^ <' '■ 

of the 1935 demonstration attend- Judge G. Kendall Sharp dismissed the diarges Tuesday against lieo- 
ed a forum at Beijing Univenity to to**®* Cokmd W^ne Gc CHfcqae of Afcatandria. Vnginia, after the 
counsel students not to persist wife government restedrts case* The judge said that although the officer was 

the People’s Daily ^ "*4^*^* “ 

and Q>in* Youth News made it - ^rap)* ** to ir a n. . ■••]» *• • 

dear that the issue is the demon- . 31 mn conspxacy to pny 

strations has not been Japan alone, fc^^^^.fiwfB^^an^fwtBentjettlnmhashea. j 
taT.hr SrZeTtS toed from wewmg U^yMpons «mce 1975. 


U.S. OfficerCl 


T'f-.'il 


Case 


Kai-shek and his Natiraalist forces 
to job the Communists in a united 


London Cabbies 
Boycott Airport 
To Protest Levy 


Gorbachev Urges Ban on Arms Tests 


Reuters 

LONDON — Taxi drivers 
began a boycott Wednesday of 
London's Heathrow Airport to 
protest a levy on fares, leaving 
travelers to use public transport 
for tbe 20 mile f32-kilometer) 
trip to the capital 

Drivers said they would re- 
fuse to pick up passengers at the 
airport, one of the world's busi- 
est, until the 50-pence (74-cent) 
levy for the use of taxi ranks 
was lifted. 

“The British Airports Au- 
thority are holding the passen- 
gers to ransom," said a spokes- 
man for the taxi drivers, who 
voted overwhelmingly b favor 
of the boycott at a mass meeting 
Tuesday. 

He said the drivers planned 
to lake their grievances to court. 


(Continued from Page 1) 
test of Geneva’s value would be 
whether the superpowers could 
agree on concrete steps to reduce 
nuclear arsenals. 

But he praised the understanding 
recorded b their joint statement 
that declared that neither side 
would fight a mid ear war or try to 
attain military superiority. 

The party leader received a 
standing ovation at tbe conclusion 
of his speech. 

As Mr. Gorbachev told it, the 
United States was forced bad: to 
the arms negotiations b Geneva 
last March by the pressure of pub- 
lic opbion. Western diplomats 


said, however, that it was the Soviet 
Union that bowed to world opinion 
and decided to return to the arms 
talks following their walkout at the 
end of 1983. 

In a new sidelight lo his view that 
both be Soviet Union and the 
United States must accept strategic 
parity rather than seek military su- 
periority. Mr. Gorbachev added: 

“We wonld not like, for instance, 
a change of the strategic balance b 
our favor because such a situation 
will enhance suspidon of the other 
ride, will enhance instability of the 
overall situation.” 

Welcoming “certain elements of 
realism” b Mr. Reagan's remarks 


last week, Mr. Gorbachev said: 
“The general balance sheet b Ge- 
neva is positive." 

But he said the Soviet and Arocr- s 
icon views of regional conflicts 1 
were completely at odds. The U-S. 
view is colored by its “imperialist” 
outlook, he said, while the Soviets 
will not agree to abandon friendly 
nations fighting to protect their in- 
dependence. 

Of Afghanistan. Mr. Gorbachev 
repeated the long-held Soviet view 
that a political solution could be 
achieved there if the United Staves 
first would halt its support to anti- 
government guerrillas fighting j 

more than 100,000 Soviet troops. i 




their agnation. 

Reports in the People's Daily 
and China Youth News made it 
clear that the issue b the demon- 
strations has not been Japan alone, 
but the broader issue of China ’s 


burgeoning foreign ties. The pro- 
tests featured calls for an end to 


tests featured calls for an end to 
Japan's “second occupation,” 
meaning the growth of Japanese 
commercial links. 


Pretoria Accepts Commonwealth Visit 


"*W*t 


Mikhail Gorbachev speak- 
ing to the Supreme Sonet 


meaning the growth of Japanese JOHANNESBURG (AP) —The South African government agreed 
commercial links. Wdinesday to receive a delation of Commonwealth nation officials 

_ «v* riw- * «_ »_ • j ^yho have expressed concern over apartheid, but warned against “tater- 

■ 15 Officials Imprisoned : yaaion in the coantifs national affaim.” 

A Beijing court imprisoned 23 - The Comii«niwealth I coiisistmg of Britam and its former colonies, 
officials found guilty of t aking voted last month to send a fact-finding delegation to South Africa after 
bribes, fraud, commodity specola- _ Britam rejected demands by the Commonwealth majority to imposejcmt 
don and tax evasion in a harsh' ^economic sanctions against South Africa. The delegation plans its visit 
crackdown on economic crimes, ' for sometime next year.' 

the Xinhua news agency said Meanwhile, the police said Wednesday that anti-apartheid violence 


Wit pi 


the Xinhua news agency said 


am 


Wednesday, United Press Interna!- flared in nine Sooth African communities. No new deaths were reported. 


tional reported from Beijing. 


but die police said at least three persons, were burned m arson attacks. 


New Tanzanian President Revives Hope for Zanzibar s Future 


For the Record 


(Continued from Page 1) 
quite happy. We don’t experience 
any more shortages of food. Zanzi- 
bar is another country now. New 
Mwinyi is going lo change Tanza- 
nia. The mainland is lucky." 

Among the problems Mr. Mwin- 


yi’s government will face is the is- 
lands' high incidence of malari a. 


“The incidence of malaria was 
very high." said Dr. Juma A Mu- 


health problem to tbe population.’’ 


In 1968, the regime of Sheikh chi the director of the Zanzibar 
A be id Karume, reveling b a spirit Malaria Control Program, which 

nf rolf TT _ J HMC m I “ _ *.i. 


AID financing is to end in Sep- 
anber 1987; under tbe Brooke 


of radical self-sufficiency, expelled was re-established b 1983 with 
a group of foreign aid workers who 57.4 million from tbe U.S. Agency 



UNIVERSITY 

DEGREE 


EXPERIENCE COUNTS! 
N ON-RESIDENTIAL 
DEGRffi PROGRAMS 


were trying to stamp out malari a. 

By then, fewer than 7 percent of 
Zanzibar’s residents and fewer 


for International Development. 

“It was a real mistake to discon- 


tember 1987; under tbe Brooke 
Amendment, Tanzania is to lose all 
U5. aid except for emergency as- 
sistance because it has ceased re- 


I* o X UvUl _ TheCJwagoCay CoondispBt along radal fines, 3 (whites to 14 blacks, 

• vr in a vote Tuesday to coodprai Louis Farrakhan, the leader of the Nation 

working with the island's health Warn , for anti-Semitic and racist remarks. (AP) 

Others, like John Battist De- nmrnmnnJ a, 

SDva, an artist who paints water- 1 t T nwi * artificial ^ heart ^ before ■ 




tinue the program," Dr. Mnchi 

“U.l . j.Lnr ■ j- 


■ ■ - ■■■■ - - juvo, jj y mi w im n^uJiid w .iin - ■ . »» vm «• wuuuB ~~ HI L 

frying. loans to Washington- Bui colors to draw international alien- ^^niS^ f ^ a I^^' <dd . victil11 <* a motorcycle accident 

tbe pToject s directors are bt^nng to tion to his dty, hope the hew ^ oo Tuesday to go home permanently to fns family 


than I percent of Pemba’s were “Malaria is a debilitating dis- 
infected with the mosquito-borne ease- , . a proportion of the 

j: n... - r- nnniilatinn ■< — ** — ‘ — 


notnuondi •> ar> Md may appfr fo» o*-o- 
Jaana BocMo> i. Muni s Of Dadorol d* 


SAGELOffS • MASTBTS ■ DOCTORATE 

For Wait, Aooda m ie, Uh Oqurianro 

Send detailed resume 
for tree evaluation. 


O’** m Maroqumtt* doca manna 

wort fapmanee mead of hvthv dbtp-ort. 


disease. But within five years, up- 
ward of 70 percent or the popula- 
tion had suffered bouts. 


population is suffering from it, 
people won’t be able to work. Our 
goal now is to make malaria not a 


avoid another resurgence. 

“What we’re trying to do now,” 
Dr. Muchi said, “is reduce tbe de- 
gree of infection b the population 


UUil 1113 Ull, UVW UK llCW • TV[, . , - . . •• 

government will help save the for- P “ ocmx ’ Anzona - 

mer slave-trading center that is.de- „ TT“ 1 — 

caying around them. D 0 ONESBURY 

“? m very concerned about Stone I , V{y/ " 


and preScrtBna a core* cxxonr^^hinertf pro- 
je0 insiaad p! a vmdart rhew The con it 


by spraying and mairina drugs T i c 

availiblZ aeTln. k Town ’ **r. DeSflva said, refemng 
available. What we are doing * to the heart of tbe old Arabic dty 


PAQHC WB1BN UNIVERSITY 

SMN.SeeuivedoBtaL 

Los Anoelas. California 
WM9, Dept. 23, U^A. 


rnodcfato. th* im k» cmfto vjn a dun 
amd D a ugwed tor wartjng nrdlaswnab. 
Pfojpi*n outtwraod b> it» Comma Dwan- 
o* Edueatarl Sajdenh mvbbfOr 

CALIFORNIA UNIVERSITY 
for ADVANCED STUDIES 


Tax Reform: A Favor Here, a Favor There 


School of Professional Management 
Office of the Dean, Room fiT-1 


lOOGolli Drive, 

Ngvoto.CA 94947. (d 15) 352-1600. 


stand by their telephones Friday day, all were Democrats, 
morning to get word on whether Mr. Thomas, who sai 
their projects had been approved, received few if anv exas 


Chilled 

TIO PEPE 


The natural aperitif. 


(Contained from Page I) of requests for special tax breaks. Among those who received fa- 
members of the Ways and Means The chairman told the members to vors who were called early b the 
Committee who approved the rales stand by their telephones Friday day, all were Democrats, 
covering the exemptions by voire morning to get word on whether Mr. Thomas, who said be ha 
wte Friday night, Ws of the their projecis had been approved, received any exceptions^ fr 

favors erven to the Florida con- c •, . , , _ .. 1 

gressnm. Like all the rest of these Fnday morm^. Hr. Rostra- CaHotm said he wasoot call* 
niiw thw numno.il / nsrj+tun ^ ows ^ 1 “d his t±uef tax cotmsd, 2 P~M, and Mr. Frenzd sai 

“We were never Sd^hat was SSSf ^ It was like waiting for Princ 

what,” said Representative Wfl- ^ Dkcm ^ 1 began calling his col- Oiarles to caD me the week be 
liam M. ThomT^Califoraia, a lea S u cs one by one. fore. Mr. Frenzel said. 

Republican committee member. ~ ” ‘ 

conmuuce JSSs £ S Egypt Asks Maita to Extradite Hijacker 

lawmakers not on the panel had c ^ ± J 

given Mr. Rostenkowski hundreds (Continued from Page 1) set long before the hijacking. “It i 


Friday morning, Mr. Rosten- 
kowski and his chief tax counsel 
Robert J. Leonard, retired to the 
committee library, and Mr. Ros- 
tenkowski began calling his col- 
leagues one by one. 


— where most of the three-story 

buildings are 150 years old, and 
IfAVnr some date bade three centuries. 

R- nVUI X IIvIa/ . ^liese buildings, all they’re rmA* 

of is stone and mud and they need a ' 
Among those who received fa- lot of maintenance." 
vors who were called early b the Mr. DeSDva said that' people 
day, all were Democrats. ' stopped caring for their buddings 

Mr. Thomas, who said he had after tbe government confiscated 
received lew if any exceptions for all private houses immediately af- 
Califomia, said he was not called ter the violent revolution of Janu-. 


7 om,ifeBOts . ^ 

ANPMBISGONNA 
TMBATURm BREAK, 

wvaneomw , 


QMPT NOTTD 
fw&seaws tuom.io- 
PND THIRDS WME&S 

tomwmsB, pL&m. 

- ^^ft£AS£e 


until 2 P-M_, and Mr. Frenzd said 
he was never called at alL 
“It was like waiting for Prince 
Charles to call me the week be- 
fore, 1 * Mr. Frenzel said. 


ary 1964 that toppled tbe reigning 
sultan cy. “Many people left the 


country,” he said. “And those, that 
stayed no longer own their houses.” 

On the outskirts of the old town, 
a long fine of concrete-block apart- 
ment houses looms over two, broad 
intersecting boulevards. Built by 
tbe East Germans in the 1970s; the ' 


SawmKHUN- HEY.THB 
GERMS m&SB? SW& 


Very Dry Sherry 




SKI CAMP 


fe petit poucef 


Me txvs and O'*. « 1 2 


(Continued from Page 1) set long before the hijacking. “It is set-story. buildi 

meeting on Wednesday on ways to an annual meeting held in any tis* 0 ™ cater like a rough fib on 
combat air piracy. Renters report- country agreed by the members,” c * >oti y- “T^ P 01 * 1 ? was to.pot up a 
ed from Cairo. he said after tbe ‘opening session, modem town.” Mr. DeSiKa, a 

Rodney Wallis, security chief of “It is held b Cairo by mere cobci- note of sadness b his voice, 
the International .Air Transport dence.” He walked along a street, pomt- 

Assodation. drfended Egypt’s res- The EgyptAir chairman. Mo- fog to a carved doorsximlar to those 
cue mission at Valletta. “Wien ne- hammed Fahim Ray an, said Egyp- that front many old fotOdfogs here, 
gotiations stop and killin g s start,” tian airport officials would discuss This all should ~be preserved,": 
he said, “the assault commander airport security with an IATA team be said. “I know the government is 
must make a decision. Then no- that flew from Geneva on Tuesday, interested. It just isn’t cheap. If I 
body can criticize his decision." An IATA spokesman said the team can stimulate some interest, wifi, 


Re^isier & 

Ciwanas Pa&vatv 
lnj.vma.cifi Auai SpMone Drkrv 

Ch -1334 ViUfvSwTzertana 
fe* l025i 352Z30 
Tim. j 56?2? iPPtCn 


DMMtawtH 
THBlAST-mu 
TEARS, ALICE? 


iam> 

tellm, 

MARY! 


fpARTHmi 

MWtHJNGER 

MSA&axm.! 


cue mission at Valletta. “When ne- hammed Fahim Rayan, said Egyp- 
gotiatioos stop and killings start,” tian airport officials would discuss 

L- u.i 9 . _ _ * . •,« 


r can criticize his decision." 


Wallis said tbe meeting was would also visit Athens. 


interested. It just isn’t chczp. If 1 
can stinrolate some interest, well 
we can save Zanzib ar." 


URBAN j 





A frl . & .ii t*' & w -'*f= ■ 




-v. %L 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 198S 


Page 3 


% -S’: - r •>••- -- . 


Meet on Role of tCVITA. 




By john At Goshko 

Washington Peat Service 



damage US. relations with govern- 
ments toroughom Africa and un- 


WASHINGTON — A senior of- c ^ ective& m 

fidai in the Reagan adminisfratiQn " t , 

began meetings Wednesday is 
Zambia with high officials from E . R f d ^ 1 ‘ ?** 

Angola to assess die for a - a ™ s ® 

Dobtical settlement in the Aiumlm ' Disaka meetings. He referred sev- 


jjofcrticaUettJemem in the Angolan ^^^.a^comnsm 

r-__ . _ . and repeated that the sdimnisira- 

Ch ester A. Crocker, ^assistant uon sot^t a negotiated settlement 
seaetaiy of state for Afraan af- to the problems erf the region. 

fairs, met with the Angolan interior With regard to Namibia, the ad- 
minister, Manuel Alexandre Ro- ministration caned in March for 
dngues, m Lusaka. The A n go lan talks on estabfishmga timetable for 
ddeganon also mdudes Franca Qtban withdrawal It armed that 
Van Dunm, the dronty foreign South Africa would not sorreuder 
m i n i s ter. The two sides were to its hold on the territory as Jong as 
meet again Thursday. _ Caban troops remained in Angola. 

- U.S. officials said that JMr. Although Angola has expressed 
Crocker wanted to deter mine a willingness to remove Cuban, 
whether the Marxist government of troops from the southern pan of 
Angola was willing to n>gorian» the country,' it has not agreed to 
with the anti-Communist msur- send the Cubans home, 
gents. The Reagan a dministrati on “W« expect Angola, as well as 
is considering the resumption of Sooth Africa, to be prepared to 
coven aid to the guerrillas. respond to our ideas constructively 

The officials said that Mr. S* " Mr..Radi»m said. 




r 


.***i{L ™ 

‘ ■ Cst. . .'*^5, 

- -V 

-•■Tk’.ri -t . 

■ - 

-■ • 

• _ --iiaj. 


- ?ia * *-&iren He 


- • ..‘W 

..^^4 








• : 33C: 

rjx; 


nl is.r - arufi m Iran An&i 


... 

. . **.1— 


j . t itrinsoHHW 1 

.«gsC 

■ . 

.. • 

• - - 




' V £■ r 
‘ » * 

- ” ^ 


‘ / - 
~ \A 

• — ^ i. -r 



-IT" 

-a 



- “* 


r^, -w 

' • «r*i 



resptHKi to cair ideas constructively 
and promptly,” Mr. Redman said. 
“Both governments have assured 


Procter atco TUn»m tie rmlnn,.,, Dwtu guvamuemi 02 Ve aSSUTCQ 

Crodccr also would be exploring recently that they want to work 
Angolas willingness to cooperate w ^ on y ^S” 

^■^ U -?: P r ?g^ ll t m M ** m Pnaademfosi Eduardo dosSan- 

tos of Angola ccnferred last month 
at the United Natkas with Michael 
settlemoit of regional tensions. H . Annacdst, U.S. undersecretary 



French Union Says It Accepts U.S. Funds 


By Richard Bern scan 

Sew York Tunes Service 
PARIS — A major French labor 


foster democracy in places where it 
is weak or docs not exisL 
The newspaper asked, for exam- 


According 10 Liberation, the con- The president of the endowment, 
federation was linked to an ex- Mr. Gershman, said in a telephone 
treme-righlist student group interview that the derision to give 
knotvn as the Service for Civic Ac- money to the organization came 
lion. out of a desire to counter the influ- 

Thc memorandum saying that ®tce of leftist orga n izations active 


onion acknowledged Wednesda y pic, why France was included on a known as the Service for Civic Ac- money to the organi. 

that it bad received U.S. govern- list of largely nondemoeratic coun- lion. out of a desire to coun 

ment funds to support persecuted ^ «*ere the projects of the Na- y^. memorandum saying that of leftist organia 
trade union activists from other oonal Endowment for Democracy disclosure of the exact nature of in French universities, 

countries. would not be made pubhe. some of the grants might rose a In its statement, the 

The union said there was “noth- Andrt Bergeron, president of the “dagger or embarrassment came rejected the claim that 
ing scandalous” in its activities. union, said in a written statement f rom {he director of the Free Trade were secret, but it at 
The labor union. Force Ouvriere. Wednesday that the funds received Union Institute, Eugenia Kemble, that it bad accepted ri 
or Work Force, was responding to by the union were used to help “the and was addressed to Cart Gersh* lions of the Free Trad 

charges published in the French thousands of trade union activists maw {he president of the National stitute that some detail 

newspaper liberation that a public who are forced to leave their coun- Endowment for Democracy. be withheld from an a 

American foundation has used “se- tries and have no accommodations, j 0 a telephone interview, Mrs. that the organization 
cret funds" provided by Congress no money.** Kemble said Wednesday that Congress, 

to support several generally censer- Among those helped by the France was clearly not among the Asked why a democi 

vative French organizations. union, he wrote, were trade union- countries where anybody would be like France was a ; 
The newspaper, under a headline ists from Poland. Afg han i s ta n and endangered from an association funds, Mr. Gershman : 


some of the grants might rose a In its statement, the endowment 
“danger or embarrassment came Fleeted the claim that its activities 
fromthe director of the Free Trade were secret, but it acknowledged 
Union Institute, Eugenia Kemble, that it bad accepted recommenda- 
and was addressed to Carl Gersh- lions of the Free Trade Union In- 
man. the president of the National stitute that some details of projects 
Endowment for Democracy. be withheld from an annual report 
In a telephone interview. Mrs. that the organization submits to 


Among those helped by the France was clearly not among the 
union, he wrote, were trade union- counlI jes where anybody would be 


Kemble said Wednesday that Congress. 

France was clearly not among the Asked why a democratic country 


reading "Reagan’s Secret Funds in 
France," repented that the Nation- 
al Endowment for Democracy, a 
nongovernmental group created by 
Congress two years ago to foster 
democracy around tbe~ world, pro- 


Latm America. with the endowment. endowments policy was to give a 

“We could not do this without a siaicnicll | Wednesday, the small portion of its funds to organi- 
the help of our friends^ from the National Endowment for Deraoc- rations in countries that "face stiff 
American trade unions,” Mr. Ber- racy said that it was suspending its competition from anti-democratic 
geron said. financing of the university group, rivals." 

The money provided to French i — 


Like France was a recipient of 
funds, Mr. Gershman said that the 
endowment's policy was 10 give 2 


The settlement wot^inchideindo- £RElS 

pendeace for the South African- „«£££ ■ . 

controlled territory of South-West 

Africa «ie„ u,^ or arrangements for the Lusaka meet- 


Africa, also known as Namibia. 

The State Department, in an- 
nouncing Mr. Crocker’s micro n on 
Tuesday, sought publicly to em- 
phasize that the talks would stress 
the Angola-Nanribia Hnlr 

But the talks also have potential- 
ly major implications for the inter- 
nal Angolan conflia because of the 


mg were made then. 


INTO ORBIT — The U-S. space shuttle Atlantis lifted 
off Tuesday from Cape Canaveral, Florida, on a dear 
night with a bright moon. It was visible in Columbia, 
South Carolina, 400 miles to the north; M iami, 200 
Rifles to the south; Key West, 420 miles southwest, and 
St. Petersburg, ISO miles west. The shuttle crew de- 
ployed a S42-million Mexican communications satellite. 


vided $830,000 to Force Ouvriere or ganizati ons by the National En - 
and 5575,000 to an anti-Commu- dowment for Democracy was chan- 
nist student federation during the neled chough the Free Trade Union 
past year. Institute, which is affiliated with 

The newspaper printed a photo- the American Federation of Labor- 
copy of 2 confidential memo to the Congress of Industrial Organiza- 
ec dowment’ s president in which tions, the largest American labor 
France was included among a confederation, 
group of iionriemocrauc countries The Force Ouvriere, formed in 
where disclosure of the organira- 1947 with U.S. support as a break- 
don's activities might pose “danger away organization from the Corn- 
er embarrassment.” Among other munist -dominated Confederation 
countries listed were the Philip- Gfenerale du Travail, or CGT, was 
pines, Paraguay, Chile and Poland, the largest recipient. The CGT is 
_Tbe disclosures were greeted France's largest union, 
with puzzlement here as 10 why Funds were also channeled 10 a 
France, which the newspaper little-known student confederation 
called “a country where democracy known as UNI, the French initials 
does not seem fragile," should have for National Inter-university 
received U.S. funds intended to Union, a group founded in 1969. 


dowment for Democracy was chan- t-| • w-w j 

neled chough the Free Trade Union I llTfi 111*111(1 K A&PQVPh 
Institute, which is affiliated with IlUSUcU til 

the American Federation of Labor- „ - w 

On SDI Down to Earth 

confederation. 

, Tbe Fwce Ouvriere, formed in By BiU Keller The strategic defense offio 

1 947 with U.S. suppon as a break- Ney j York Times service expected to ask for S4.9 billion r 

away organization from theCom- WASHINGTON -Congressio- year, although congressio 
munist -donunated Confedferauon ..... - _ e n ., n <M«u)hnr nroh a Mt> 


force Uuvnere. lormeo in Bv Bill Keller The strategic defense office is 

1 947 with U.S. suppon as a break- Ney j York Timn Sfn!lcr expected to ask for $4.9 billion next 

away organization from theCom- WASHINGTON— Congressio- year, although congressional 

w naI b h ud ^- 1 cu “ ^ for ^ re ' ^^^^-P^blywiU 

toe largest recipient The CGT is ^ S ’decision to put less research 

France s largest union. . taur«v*«« tn iiu > tnr a monev into soace-based euns and 


gram to focus on land-based lasers 
and killer rockets in toe quest for a 


The decision 10 put less research 
money into space-based guns and 


way to destroy attacking nuclear lasers eases one technical problem: 
missiles, according to the director toe question of how to put into 


of the program. 

Lieutenant General James A. 


orbit the power-generating facili- 
ties of great output that would be 


4 U.S. Senators Urge Marcos to Ensure Tree and Fair 5 Voting 


Sew York Tunes Service Democrat on the committee; 

mil Angolan conflict because of the WASHINGTON — Four mem- Fnnk r **• Murkowski. a Repubh- 
Reagan administration’s desire to bers of the Senate Foreign Reb- can of Alaska, chairman of the :sub- 
rtsume covert aid to the insurgents, tions Committee have sent a letter 

led by Jonas SavimbL to Prosideal Ferdinand E Marcos ^*c ailairs, and Alan Cranston of 

Tbe rdjel group, known by its ' “ 

hSbS^STfayears^S^ ^ cmducted in a free and The Reagan administration and 
!T B y ryTT fair manner. Congress are mcreasma pressure 


the Marxist goveromenx, winch is 
supported by Cuba and the Soviet 
Union. 


there "be conducted in a free and The Reagan administration and 
fair manner." Congress are increasing pressure 

The letter dated Friday was 00 Mr - Manx* to cany out politi- 
n.ad» public Tuesday by Senator cal changes at a time of growing 

*»- ■ Tj r-t t . ’ i n _ nnliiiml eenttnmir -in/l vnirilv 


fair, we fear that many Filipinos February, to resolve doubts about 
will despair of the prospects for the stability of his 20-vear role, 
peaceful pohtica 1 change and wiU * Mrs. Aquino Mav Run 
conclude that they have no choice „ \ * .. . 

but to resort to violent means as a Corazon Aquino, 52, widow of 

way of bringing about change." ^ opposuion leader 

i- . _ . . Bemgno S. Aquino Jr., signaled -All that I am asking 

“In ordtf to avun^s tragic pos- Wednesday that she might be ready ready •’ toe added^uS 
ability, which would have such ^ ^ ^gainsi Mr. Marcos, Reuters ourselves for sacrifices. 


“This is what is in my bean and 
my mind," Mrs. Aquino declared. 


SMKS ic Iciliadve Ora- 

mzauon, said Tuesday that his of- . • 

fice had decided to put less empha- tLEfSSj! 

sis on more complex weapons, such SSLS - " hunLllg ^ ° ^ 
as lasers based in space and high- the anti-misaie program 

P™** el“ tro ®«g“«ic guns, ^ focusin OQ miniauuerS 
v,toich the mtotary refers to as “rail fha Z~rJ? rnn „,„ r„.. 


the stability of his 2U-year role. my mind," Mrs. Aquino declared, wnww-wjinww. that would cootain their own fuel. 

■ Mrs. Aquino May Run adding that she would make her rvZSZbv S? bif “ II aPP® 115 "S* 31 00 *‘ *° ** die 

CorazooA^iao, 52. of toi?™ kno™ Jj.™ fl.= clcct,o n office s budget request by SI bil- „, y w pr0< «4 eod m 

.he feeder M - “S-ed by Mr. Mar m . Ahraham „„ „ id lhal 


"All lhal I am asking is let us get in narrowing toe field his office had 
ready," toe added- "Let us prepare concentrated on programs that had 


“ see some very real cost reductions.’ 

General Abrahamson said that General Abrahamson said. 


fateful consequences for both toe repon ed from Tarlac. in the north- 
Philippmes and the United States," ^ Philippines, 
it said, "we urge you to take toe - r wiU new be able to forgive 
steps that are necessary to ensure mvsdf , Uve ^ ^ knowledge I 
that the elections are free and fair. ^ something and 


___ ' ' . „ Richard G. Lugar, an Indiana Re- poetical, economic and security 

Wnle dedming to give specifics publican andSman of toe For- problems in toe Philippines. 


. ; :aa 


W3S **8°“* b y Senators Claiborne 
Mr. Rodngoes that the United PdI ^ M an H die ranking 
States wasprqjared to bold off any ^ 

new aid to UNITA if the Angolan 
government showed signs of will- 
ingness to talk with Mr. Savimbi 
about fonmng a reconciliation gov- 
ernment with a role for his group. 

President Ronald Reagan first 
mentioned the administration’s 
wish to aid UNITA last week. Sec- 
retary of State George P. Shultz 
amplified Mr. Reagan’s remarks, 
saying in a television interview 
Sunday the- administration 
supported UNITA ’s “freedom 
fi ghting” and wanted to help that — 
effort “in a way that’s effective." 

Mir. Shultz's remarks were un- 
derstood to mean that the adminis- 
tration would rather aid UNITA 
covertly than accept a plan in Con- 
gress that would provide $27 mil- 
lion in overt humanitarian add. 

The administration is said to be- 
lieve that open U.S. alignment with 
UNITA would force Washington 
into a closer alliance with South 
Africa, the rebels' principal source 
of support, and would undermine 
UJ5. efforts to pressure Pretoria to 
change its apartheid system of ra- 
cial separation. ■ • 

Earlier this week a group of 101 - 
congressmen urged Mr. Reagan 
not to go ahead with covert aid. . „ , • , 

They argued Thai any aid to UN- Ronald William Pfetton, ngn 
ITA, whether secret or overt, might 


DetmkPlans 
Detectorsin 
High Schools 

The Associated Press 

DETROIT — Metal detectors 
similar to thoseused at airports wfl] 
be installed in Detroit's 22 public 
high schools to check students for 
weapons, the school board has de- 
rided. 

The board voted Tuesday to 
spend nearly $131,000 to buy 44 
permanent, walk-through metal de- 
tectors to check for weapons. The 
school system has 200,000 stu- 
dents. 

The school superintendent, Ar- 
thur Jefferson, said he hoped to 
have the detectors installed in Jan- 
uary. 


"We believe that toe Philippines 
is at a crossroads.” the letter said. 
"If the elections are not free and 


The rally and a church service in 


m narrowing tne ueia tnsoi lice had in September toe U.S. Air Force 
concentrated on programs that had u^d such a craft, propelled into 
shown toe most early promise and space bv a two-stage rocket, to 


those that could be developed most shoot down an orbiting satellite, 
economically. He said toe choices Anti-missile scientists now are at- 


“I will never be able to forgive Tarlac. 75 miles (125 kilometers) ^ ^rematura Tm nLe " hut * au -? USiM saenmu now are at- 
mvsdf if 1 live with toe knowledge I north of Manila, commemorated ,Hded. "We didn’t eet toe monev “ produce such a killer 

could have done something and what would have been toe 53d 1 & l “ e moQey craft weighing less than 10 pounds 


Mr. Marcos's current six-year 
term runs until 1987. He proposed 
an early election, scheduled for 


didn't do anythin g," she said at a birthday of her husband, who was 
rally m the Aquino family borne* shot to death at Manila Interna- 
lown. tionaJ Airport in August 1983. 



Ronald William Pelton 

Spying Allegedly Started After Years of Financial Struggle 


that we needed." 

He said the Reagan administra- 
tion had no plans to request a bud- 
get supplement this year to revive 
the projects that have been slowed. 
The administration originally 
asked for S3.7 billion to carry out 
research projects this year rdated 
to a missile defense, but Congress 
approved S175 billion. 


(4.5 kilograms), one-fifth the 
weight of toe air force anti-satellite 
weapon, the general said. 

To shoot enemy missiles as they 
are fired from earth, toe prqject 
now envisions using a relatively 
new type of beam that uses mag- 
nets to agitate a stream of negative- 
ly charged particles until they emit 
light. 


By Sharon LaFraniere 
and Susan Schmidt 

Washington Pott Service 


Union and began passing sensitive 
information about US. intelligence 
activities directed agains t Moscow 


WASHINGTON - R 0M ld from hi. Injure 

William Pdton, arrested tins week at me^ency. 
in Annapolis. Maryland, on espio- V* ^ ^ admitted to 

nage charges, straggled financially s P^ u1 | r ^ 0 5 ^p scaWi '- but his attor- 
f or vears before iufallegedly decid- Frcd Warr “ Benn «*' 

ed to spy for toe Soviet Urtion. such statements do not necessarily 
In the months just before the constitute confessions. 


FBI says Mr. Pelton made contact 
with a Soviet agent, matters went 
from bad to worse. . 


Mr. Pelton. 44, grew up in Ben- 
ton Harbor. Michigan, a small 
town on the far western edge of toe 


Mr. Pelton. his wife and four state. He graduated in the top quar- 
children had been living for almost ter of his class at Benton Harbor 


Ronald William Pfeltoo, right, who is charged with spying. 


four years in what a neighbor de- 
scribed as “abject poverty” in a 
rural section of Howard County, 
Maryland. 

In 1979, he left his 524.500-a- 
year job at the National Security 
Agency at Fon Meade, Maryland, 
where he had worked for 14 years. 

In early 1980, an FBI affidavit 
presented at Mr. Pel ton’s arraign- 
ment Monday alleges, Mr. Pelton 
made contact with toe Soviet 


High School, according to a school 
spokesman. 

After graduation he joined the 
military, according to toe spokes- 
man. He was then hired by toe 
National Security Agency in 1965. 

By the late 1970s. despite his 
income as a communications spe- 
cialist, toe Pel tons were living in a 
decrepit farmhouse near the small 
town of Lisbon. 

“The guy was pretty destitute.” 


Jonathan Jay Pollard 

Acquaintance Says He Boasted of Working for Israelis 


said one of toe family’s closest 
neighbors. "The house was a wreck. 
He bought a camper and I think 
they were sleeping in toe camper 
most of the time." 

By the time the properly was put 
up for sale in 1980 the Peltons were 
six months behind in mortgage 
payments and owed S420 in prop- 
erty taxes, according to Dale Mag- 
nusson, who bought the property, 
and his attorney. Malcolm Kane. 

By toe spring of this year, Mr. 
Pelton was telling acquaintances 
that he was president of a health 
club in toe Georgetown area of 
Washington. He separated from his 
wife, Judith, in July or August, ac- 
cording to his attorney, and was 
soon seen with a woman named 
Ann. Mr. Pehon told friends she 
was his girlfriend. 

Reached by telephone Tuesday, 
the woman refused to comment. 
“I’ve just been out walking for 
miles and miles," she said. “You 
don’t understand My man is gone. 
I got nothing. I got no money." 

She said she would comment lat- 
er but added, “I'm going to charge 
for it, though. It’s going to cost. It’s 
that simple." 


TRAVELLERS REASSURED 'WATER 
IN BOMBAY SAFE TO DRINK \ 


Based on his long and intimate acquaintance with 
Bombay our foreign correspondent writes: 

“Of all the things that people drink in Bombay, 
water has never figured prominently. ' —jm 
Most prefer Tonic in Bombay. Mar- QH 
tini in Bombay or Orange in Bombay. |~M 
Indeed, anything that one would Jf 
usually mix in Bombay. 

But. let me assure you. there [ 
is no need to stay clear I 

Those_ rumours 

ported London 

Gins are well and \ 

truly ill-founded.” 






By Roberr Pear 

fJev, York Times Service 




vims-*- 


WASHINGTON — Jonathan *-71121 discrep; 
Jay PoUard, a civilian coimtermiel- wasn > t effing 
ligence analyst for the U.S. Navy tiny. " Mr. Mai 
who was accused last week of spy- However M 
ing for toe Israeli government, has now editorial | 
boasted for 10 years of colorful Tribune in O, 


Later, while still in college, Mr. John LeBoutiilier. 2 New York 
Marshall recalled, Mr. Pollard said Republican who served in the U.S. 
he was a captain in the Mo&sad. House of Representatives from 


“That discrepancy indicated he 1981 10 1983, said he met Mr. PoJ- 
wasn’t telling toe truth all the kast fall after giving a speech 
tiny. " Mr. Marshall said. about Uik prisoners of war still 

However. Mr. Marshall, who is being held in Indochina, 
now editorial page editor of The After six to eight more contacts. 


boasted for 10 years of colorful Tribune in Oakland. California, Mr- LeBoutiilier said, "I realized 
international exploits, including cnir! hi^ classmate "was unusually that I was dealing not with a so- 
senice to the Israelis. well-informed and quite articulate phisticated agent of the U.S. gov- 

Jonalban V. Marshall, who grad- and what might otherwise emment, but with a guy who was 
uated with Mr. Pollard from Stan- have been an outlandish series of fullofhot air. full <rf exaggeration." 
ford University in 1976. said his claims quite convincing." Mr- LeBoutUHer said Mr. Pol- 


Larry Wo-Tai Chin 


uated with Mr. Pollard from Stan- 
ford University in 1976. said his 
classmate “claimed frequently to 
be a colonel in toe Israeli military 
and to have worked for Mossad,” 
Israel’s foreign intelligence agency. 


have the detectors installed in Jan- U.S. Officials Say Damage 

From Espionage Is Immense 

shootings and imifingc authorities MT & 


shootings znd knifings, authorities 
began using hand- held metal detec- 
tors to check students at random 
for weapons. 

The Detroit branch of the Amer- 
ican Civil Liberties Union had filed 
a lawsuit, to be heard next month 
by in U.S. District Court, to block 
random searches. 

Howard Simon, executive direc- 
tor of Lhc group in Michigan, said it 
also objects to the larger searches 
planned by the school district. 

“Our principal objection,” he 
said, "is that you - can't do mass 
searches of large groups of persons 
like students, most of whom are not 
doing anything illegal." 

■ Girt Kffls 2 Boys 
. A teen-age girl fatally shot two 
boys and then shot herself in toe 
bead with a rifle Wednesday, ac- 
cording to authorities in Spanaway, 
Washington. The Associated Press 
reported. The gill was ™ critical 
condition. 

The riri shot herself at Spanaway 
Junior High after offices Died to 
get her to surrender, a -policeman 
said. "It was a ninth-grade love 
triangle of some sort." he said. 


well-informed and quite articulate phisticated agent of toe U.S. gov- 
and made what might otherwise emment, but with a guy who was 
have been an outlandish series of full of hot air, full of exa gg e ra tion." 
claims quite convincing." Mr. LeBoutilHer said Mr. Pol- 

Mr. Marshal] said he concluded land asserted in October or Nouem- 
at toe t»m» that Mr. Pollard mig ht ber 1984 that he was going to Mo- 
indeed have some connections with traco and Pa kis t an About four 
Israeli intelligence but that he weeks later Mr. PoUard told the 
probably had embroidered his role, former congressman that he had 
Mr. Pollard was bom in GaJves- just returned from those countries, 
ton, Texas, on Aug. 7, 1954, and Federal law enforcement offi- 
grew up in South Bend, Indiana, ctals said Mr. Pollard told toe FBI 
His father, Morris PoUard. is a pro- last wce k that he had given classi- 
fessor and a microbiologist at the information to Pakistan as weU 


The T70 offers the beginner 
decision-free photography 

Kg and simple operation the 

■R experienced photographer 
|T has a camera unsurpassed 
|H in versatility.” 

A quote from ‘SLR Camera’ in the U.KL 


University of Notre Dame. 


as Israel. Justice Department offi- 


( Continued from Page 1) menl tbeir counterintelligence 

, . , . . . - , programs, but a former senior in- 

d^nageb^dcalculatioa by en- £££„« official said Mr. Wallop’s 
aWmg Soywt offiaris to aher to«r JSStions “are absolutely 1 mm2.’ 


behavior in ways that render multi- 
mflEoa-dollar satellites and other 
devices virtually useless. 


Court documents filed as pan of 
the case against Mr. Pdton said 


nSSTRSTSi that Mr. 5? 

rouaoi mi. 0 ff Kaa ] s m Vienna at least twice, in 


Pdton had admitted roving for five in ^enna at ^ ^ ftvice.in 

T ^ of Mr. Chin, the ini- 
rffioals known some of toe ^ bUc assessmeal by 

Nanonal Seamty Agency secret genceoffidals was that his alleged 
“iSMLfcolmW^op ,,Wf 

.TTning Republican who was a mem- ■ Cuiua Deiues CouaectHHI 

ber of the Senate Select Committee In Beging, toe Chinese govt 
on Intelligence until this year, has ment denied Wednesday that it 1 
been'espeaaUy critical of the seen- any connection w-i to Mr. Cl 
rity agency's programs for detect- Ratios reported. "The accusal 
ing spies withm the agency. made by toe US. ride is grou. 



ber of toe Senate Select Committee In Beging, toe Chinese govera- 

on Intelligence until this year, has ment denied Wednesday that it had 
bccn cspoaally critical of the seen- any connection with Mr. Chin, 
rity agency's programs for detect- Ratios reported. "The accusation 
ing spies wtom toe agency. made by toe U.S. ride is ground- 
’Tbey have no counterimeDi- less," said Li Zhaoxing, a Foreign 

gence,” he said. "They have uosys- Ministry official 
terns or methods for assessing our In Israel toe state radio said an 
systems and how they might be Israel diplomat had been recalled 
discovered and perhaps used because he had contacts wito Mr. 
agains t us. Pollard, Reuters reported in Td 

_ Agency officials would’ noi com- Aviv. 


After graduating from Stanford, they did not necessarily 

toe younger Pollard, known as Jay, believe the stories about Pakistan 
attended the Fletcher School of but did believe he had sold infor- 
Law an<i Diplomacy at Tufts Uni- mation to Israel, 
versity in Massachusetts. r — ^ 


PEATB notice 

ENTWTSTLE. 

John Lynn CORKIN “Mert" 

Ll COL. C.D. Rci’A). m hiHpiul at 
Ottawa. Canada, •'n Monday, Novem- 
ber^. 1W5. 

During 35 years in the Canadian forces, 
John was the last C.O. of the Cdn. Gds. 
for 1467-1969. and also saved is Indo- 
china, Korea. Cyprus. India/ Pakistan 
and final? the Middle East on peace- 
keeping (fades. John Entwistle. aged 55 
years, beloved husband Of Jda lues, dear 
father of Catherine. Sandra and Natalie. 
Dear brother of Joyce (Mrs. Dos Bnw- 
dage), Ahoe (Me. Tom Moore) and also 
survived by his mother Mrs. M.L. 
Entwistle of London, Ontario. Funeral 
from McEvcy-Sriekis Funeral Home to 
Chrisi Church Cithcdral for service on 
Friday. Nobcmber 29th. fotennent 
Beecbwood Cemetery, Ottawa. In 
memorials donations to the Heart & 
Stroke Foundation appreciated. 


YOUR BEST BUY 

Single diamonds at wholesale prices 
bv ordering direct from Antwerp, 
the world’s most important cui- 
diamond market. Give diamonds 

lo the one, you lo\c. hu> for 
investment, for Jour enjnmeni. 
Write turmoil for free price list 
or mil its 

Joachim GobSensreirt 
diamantexport 
Eatabliahed 1928 

PeUkaanatrut 62. B-2018 Antwerp* 
Bdosm - Td j (3i3) 234.07^1. 
Tde*= 71779 tyi b. 
ji the Diamond Club Bldg. 






MUTruRmoTOGRAnc* cat 
pocus .ia. 

POTO i 

FOrOMUUW'W 

MwracMcanrr c-« 

MTMun.TM 

Ti/fnroToai u w ■ 


Canon® 

European camera of the year 84. 


V 



,gg ?C?fpf ’ffet^eJ-eSS I I i!P 


42 

15 

I 

16 
6 

56 

48 

7 

3 

6 

S 

15 

9 

3 


11 

10 

20 

9 

13 

I 

17 

1 

5 

12 


I 


11 

1C 

X 

It 

1* 

1! 

It 

U 

11 

1£ 

ES 

Pr 

SO 

*a> 


Es 

Pr 


CA 

4a 


Es 

Pr 


Es 

Pr 

HI 

3a 


w 

38 . 


cc 

37. 

li 

li 

li 

li 

i: 


t 


PC 

Of 

U« 


* 


85 


tt 


D « 

l 

3 

3 

3 

3 

3 

FF 

KE 

if- 

* 

* 

e 

* 

4 ‘ 

US 

SF« 


S. 

S 

4 " 

41 

4 ". 

T«» 

TO* 


L05 

Sjw 




Page 4 


THURSDAY, NOVEMBER 28, 1985 


Rcral b^S Srtbune ifept’s Deepening Dilemma as Sick Man o 

PublUd Willi The V* York Time* and The Washington Post 







Israel: Spying on a Friend 


Two worlds intersect in the case of the 
civilian Navy counterintelligence analyst ar- 
rested on espionage charges while bolting into 
the Israeli Embassy. One is the secret world of 
espionage. There, it is no surprise to find that 
some Israelis have bees spying on the United 
States. No doubt people consumed by the 
sense of living on a narrow security margin 
find it difficult to forgo an activity that they 
think might widen that ma rgin 

For the purpose of espionage is not amply 
to keep an eye on one's enemies. It is to keep 
from being surprised, and one’s friends can 
cause surprises no less disruptive — sometimes 
more so — than one’s enemies. As generous as 
the United States is to Israel there cannot fail 
to be things the Israelis fed they could learn 
that would reduce still further the chance 
of someday being surprised. 

It was precisely to reduce the chance of 
surprise, you will recall that the United States 
dispatched the USS Liberty to spy electroni- 
cally on Israel and the Arab combatants in the 
1 967 Middle East war. The Israelis shot up the 
ship in an incident the bad memory of which 
lingers stOL But a prudent person has to hope 
Lhai Washington did not then decide there was 
□o further reason to keep an eye on Israel. 

Meanwhile, however, there is also the open 
world of politics in which some limitations 
must be imposed on the ways the two sides 
seek information about each other. This is the 


world evoked by President Reagan's reported 
question. “Why arc they doing it?” Indeed, 
how could the Israelis spy, in an intrusive risky 
fashion, on the country that is their leading 
strategic and financial support and already 
their partner in extensive intelligence collabo- 
ration? The Israelis are holding their own 
discussions about who is to blame, and it is 
important to remember that it is not yet known 
jusL who authorized this operation or at what 
level it was conducted. Still, it is enough for 
Americans to find that some representative of 
a friendly state saw fit to conduct the kind of 
operation against its patron that is usually 
associated with the intrigues of hostile powers. 

The value of whatever may have been taken 
from the files cannot possibly come near out- 
weighing the value of what may yet be taken 
from the relationship. The notion that an os- 
tensibly friendly intelligence service could not 
keep its distance from an American dvfl ser- 
vant docs violence to the annual trust that 
Israeli officials regularly describe as the sine 
qua non of American-Israeli relations. 

No doubt many people will now feel that the 
first priority is to contain any damage done to 
American-Israeli ties. Others will feel a sense 
of deep and pained puzzlement. The American 
courts will handle the case of the Navy suspect 
The more interesting question is what the 
Israelis will say about what was going on. 

— THE WASHINGTON POST. 


The Lesson From Medvid 


Officials of the U.S. Immigration and Natu- 
ralization Service have now completed an in- 
vestigation of the incident, in which two border 
patrolmen returned a Soviet seaman, Miroslav 
Medvid. to his ship. They recommended that 
the agents be demoted in rank and suspended 
without pay for 45 and 90 days. What are the 
general rules, and how should the Border Pa- 
trol have responded? 

About 15,000 foreigners seek political asy- 
lum in America each year. These include mi- 
grants from Central America, touring artists 
and sports figures from Communist countries, 
and innumerable ship-jumping ««niwi from 
all around the globe. Each has exactly the same 
rights under the law to apply for political 
asylum and to have his case adjudicated in a 
hearing and on appeal Hie rule is that no one 
seeking asylum is ever returned to his home- 
land against his will until all the person's legal 
remedies have been exhausted. 

Twice in the past five years, a person seeking 
asylum has been, through error, sent home 
before his legal review ended, but in both cases 
America won his return to the United States. 

Under INS regulations, asylum requests 
filed by citizens of certain countries, primarily 
the Soviet bloc and China, are treated on an 
expedited basis. The explanation is that this is 
necessary so that if the decision is adverse, the 
person has a chance of returning home within 
a few days, perhaps before his government 


knows he has tried to leave, since these coun- 
tries have a wdl-known history of punishing 
citizens for the simple act of trying to leave; 
most other countries do noL 

The Medvid case should have been handled 
in this manner. A preordained series of phone 
calls — to supervisors, to INS in Washington 
and to the State Department — should have 
been made immediately. The trouble in this 
case is that the border patrolmen maintain 
they were told by a translator that the seaman 
did not want asylum. Whether this was due to 
a foul-up in translation, a bad phone connec- 
tion or die heavy accent of the translator is not 
known. Moreover, the officers tamed Mr. 
Medvid over to local agents of the Soviet ship 
and were not even present when his struggle 
and second leap into the water took place. 
American officials later took him back ashore; 
by this time ship officials h»ri talked to him 
and he insisted he wanted to go borne. 

It was a serious failure of judgment not to 
have been especially careful with a Soviet 
seaman. There was reason to be skeptical of 
the long-distance translation. The bender pa- 
trolmen were slow to seek the advice of superi- 
ors- For this the patrolmen are being punished. 
As a general rule all persons seeking asylum in 
America are given every opportunity to make 
their case and to remain there while they da 
That is the way it should be. 

— THE WASHINGTON POST. 



For many of us. the Thanksgiving itinerary 
will involve something far more hazardous 
than going over the river and through the 
woods. The paths to holiday get-togethers arc 
fast lanes. loaded with deadly dangers on this 
busiest travel weekend of the year. We’D un- 
derline the familiar public service warning 
about safe driving, although it never seems to 
be heard by the worst offenders: the Itiller- 
drivers who have been drinking. If it makes 
any further difference, those who intend to 
partake of any spirits should be advised that 
police throughout this region and up and down 
the coast win not be taking a holiday. They will 
be on, off and above the roads, with radar to 
catch the motoring lawbreakers. 


So much for that legendary “other” driver, 
that “someone else” who is always regarded as 
the real threat on the road. The best move the 
rest of us can make is to keep drinkers away 
from tiie driver’s seat. That's been the message 
all fall from the Washington Regional Alcohol 
Program, a coalition that has been coming up 
with practical suggestions on mass temper- 
ance. With the cooperation of restaurant* 
bars, hotels, auto dealers and civic leaders 
throughout the region, WRAP is urging groups 
of people to designate one person to abstain 
from alcohol and to do the driving for the rest. 

That's not a complicated or demanding mis- 
sion. It could prove to be the life of the party. 

— THE WASHINGTON POST. 


Other Opinion 


Hijacking and Libyan Links 


Egypt has vet to produce the conclusive 
evidence which it says links Colonel Moamer 
Qadhafi's Libya with the murderous hijacking 
of the Egyptian Boeing. The colonel already 
has so much to answer for that Egyptian suspi- 
cions will get a sympathetic hearing, but so far 
hijacking has not been one of his specialities, 
nor that of the other chief suspect, Abu Nidal’s 
terrorist group, whose forte is assassination. 

it may be that the usual motives were absent 
in this case and that the hijackers simply 
wanted to blow up the plane, which had sym- 
bolic meaning as the vehicle by which the 


. vchilie Lauro crowd came to justice in Italy. 

Egypt has, however, been deliberately belea- 
guered by Libyan plots against it and by the 
incessant accusations of betrayal emanating 
from Tripoli Thus, even if there is no such 
thing as the “Egypt's Revolution” organiza- 
tion, in whore name tire hijackers claimed to be 
acting, their work served the colonel’s pur- 
poses very well — more so, indeed, than they 
could have expected when the rescue attempt 
went so disastrously awry. 

Whatever the truth of the Egyptian allega- 
tions against Libya the tension between the 
two countries is becoming dangerously high. 

— The Guardian (London). 


FROM OUR NOV. 28 PAGES, 75 AND 50 YEARS AGO 


1910: Girna Weighs Currency Reform 
PARIS — China’s National Assembly is re- 
forming the currency system. Anything more 
complicated than the existing system in China 
could not be imagined except by a madman. 
The siandard of value throughout the Empire 
is not a coin, but a weight of silver, the tael 
and this weight varies in different provinces. 
There is the Haikwan tael tire Kuping tael the 
Hankow tael the Shanghai tael As the price of 
silver fluctuates, it is necessary, in commercial 
transactions, not only to bear in mind the 
current rale of exchange, but also to remember 
what particular tael is being considered. Every 
commercial transaction necessitates a most 
complicated mathematical operation. One of 
the first undertakings of “Young China” must 
be the establishment of a uniform coinage in 
the Empire and the creation of a Mint. 


1935: Hider links Bolshevism to Jews 
BERLIN — “Germany is the bulwark of the 
West against Bolshevism and in combating it 
wQJ meet propaganda with propaganda, terror 
with tenor, and violence with violence,” said 
Fohrer and Reichschancellor Hitler in a recent 
interview. Questioned as to the grounds for 
Jewish legislation passed in the Reichstag ses- 
sion at Nuremberg in September [forbidding 
marriages between Jews and persons of Ger- 
man Mood and nullifying most civil rights for 
Jews], the Fuhrer said: “The necessity of com- 
bating Bolshevism is one of the fundamental 
reasons for the Jewish legislation. This legisla- 
tion is not anti-Jewish, but it pro-German. 
Through these laws the rights of the Germans 
shall be protected against destructive Jewish 
influences." He said that practically all Bol- 
shevik agitators in Germany had been Jews. 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY, Chairman 1958-1982 


KATHARINE GRAHAM, WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Chairmen 


LEE W. HUEBNER. Publisher 

Executive Editor RENE BONDY Deputy Publisher 

Editor ALAIN L EC OUR. Assoaaie PutQjher 

Deputy Editor RIC HARD H. MORGAN Associate Publisher 

Deputy Editor STEPHAN W. CONAWAY Director of Operation 

Associate Editor FRANCOIS DESMAISONS Director of Gradation 

ROLF D. KRANEPUHL Director of Advertising Seles 
International Herald Tribunt 181 Avenue Charies-de-Gadllt 92200 Neuffly-sur-Srint 
France. Tel.: \ 1)47.47.1165. Telex: 612718 (Herald). Cables Herald Paris. ISSN: 0394-8051 
Direct ew de la publication-' Walter N. Thayer. 


PHILIP M. FOISIE 
WALTER WELLS 
SAMUEL ABT _ 
ROBERT K. McCABE 
CARLOEWIRTZ 


Marumi Dr. Asa. Mtdoobn Gian 24-34 Homsty M, Hang Kang, Td 5-285618 Tdex 61170. 
Manaas Dir. UK: Robin ModOcfum, 63 long Am, latdon WC 1 Td 836-4801 Tdex 262009. 


Gen Mgr- K- Gemrnr. W. Latderbach. FnsbxfaSr. 15. 6000 FttmkfaiiM. Td (0*91726751 Tic. 4/672/. 
S.A. au capita! de 1. 200.000 F. RCS Nantern B 73202] 126. Commission Parilmre No. 61337. 
l).S. subscription : $322 yearly. Second-doss postage paid at Long Island City, N.Y. 11101. 
0 1985. Imenuaiatal Herald Tribune: All righu reserved. 



W ASHINGTON —World War I 
started because Austria and 
Turkey could not keep order, is the 
Raiicwn* China’s inability to make 
its writ run outside Beijing contribut- 
ed to World War II. 

Egypt’s recent troubles acquire 
their true dimensions against That 
background. Because of internal 
weakness Cairo cannot live up to in- 
ternational commitments, and the re- 
peated defaults threaten security 
across a wide area. 

Anwar Sadat and the fall of the 
Shah in Iran made Egypt the prime 
regional power in the most turbulent 
pan of the world. In the Camp David 
accords Cairo undertook to keep 
peace with Israel and to work for 
Palestinian self-rule. The Israeli con- 
nection, by implication, obliged the 
Egyptians to hold the line against 
radical Arab nationalism — directly 
on the border with Libya, and indi- 
rectly in sustaining moderate regimes 
in Jordan and Sudan. 

Domestic disorders, however, 
make it hard for the authorities in 
Cairo even to police their own do- 
main. The narrow valley of the Nile 
does not produce enough food to feed 
Egypt’s teeming villages. Economic 
growth has been slow and uneven. 
Illiteracy runs to about 55 percent. 
The state services are bloatH cor- 
rupt and dead in morale. In the race 
to catch up with the 20th centnry, 
Egypt is falling farther behind. 

Islami c fundamentalism, with its 
anti-Western and Pan-Arab accent, 
thrives in that climate. The Moslem 
Brotherhood, it should not be forgot- 
ten. started back in the 1 920s in lsma- 
Oia, the company town of Britain’s 
Suez Canal administration. New 
growths have flowered among stu- 
dents, in the press, the civil service 
and within the armed forces. 

Soldiers were part of the Islamic 
group >har g unned down Mr. S*da t in 


By Joseph Kraft 


198 1. His successor. Hosni Mubarak, 
has never been able to control the 
movement. Worry about the internal 
opposition has repeatedly caused the 
Egyptian president to pull punches 
and duck responsibilities. 

Sudan represents the most griev- 
ous example. Because of its control of 
the upper Nile that country has a 


finger on the Egyptian windpipe. Its 
former leader, Gaaf 


ar Nimein, was 
ban protege, one of the very, 
□on who i 


an _ 

few in the region who did not disown 
Cairo after Camp David. Kit the 
Egyptians did nothing when be was 
overthrown in April They sat on 
their hands while the new Sudanese 
leaders came to terms with Egypt’s 
sworn enemy, Colonel Moamer Qa- 
dhafi of Libya. The rally response 
since then has been exposure of a 
vague Libyan “plot” against Egyp- 
tian internal security. 

Jordan presents another case in 
point After the AdriQe Lauro affair, 
King Hussein took his distances from 
Yasser Arafat the leader of the Pales- 
tine Liberation Organization. King 
Hussein’s dear purpose was to hold 
Mr. Arafat at arm’s length until the 
PLO agreed to moderate its terrorist 
activities. 

But that strategy was undermined 
early this month whim Mr. Mubarak 
embraced Mr. Arafat in Cairo. 
Though Mr. Arafat pledged himself 
to restrict terrorist activities, his aides 
immedi ately forswore the vow. In ef- 
fect Mr. Mubarak compromised 
King Hussein to gain PLO support 
for Egyptian rapprochement with the 
rest of the Arab world. 

Terrorism has elicited a similarly 


shooting seven Israeli tourists, and 
then denying them medical help- In 
the Achille Lauro affair. Mr. Mu- 
barak first negotiated the surrender 
of the gunman, and then, connived at 
the escape of their leader. 

Criticism of that wavering proba- 
bly induced Mr. Mubarak to send 
commandos when hijackers seized an 

Egyptian airliner after it had left Ath- 
ens airport and forced it to land in 
Mails. Second-guessing the assault 
and its unhappy end is perhaps not 
fair. Systematic slaughter of passen- 
gers justified a rescue mission, and 
the operation was risky. But it is fair 
to ask what the four security guards 


aboard the plane were doing when 
the terrorists seized control- 
The flames thai spread throughtbe 
plane thus illumined a double trage- 
dy. Sixty innocent persons were 
killed. Another devasiairog blow was 

dealt to Egyptian sdf-coafio ence - 
Despite thelotes about Libya com- 
ing from Cairo, ii will be harder for 
Mr. Mubarak and his associates to 
play the role of regional peacekeeper 


fact he must maneuver among suur^ 
factions through a civil senw'tbafc 
has lost its nerve and an army riddletg 
with corruption. W* && 

man of the Arab world. Mr.Mnt 

is no more the her cl the 

than The Greek leader Andrew; 


nandreou is a modern-day Peridoti^ 
*For America that «•— ’*-*-i*3* 


care not to overburdatgj»^ea|^ 


Egypt’s friends can do more than 
simp ly bemoan the pity of things. 
They can stop pretending that Mr. 
Mubarak rules over a hard state in 
firm control of a coherent nation. In 


pursuing terrorists yiddsipTOttyi 
the maintenance of a fneodly regaL 
in Cairo. As to tire Israelis: and 
of us who support Israel 
question requires constantly fresh^. 
sessment: what doth it profit 
lion to saw its fife and fct tire worfd^ 
around go op in flames? . 

Las Angeles runes 5> tuScate. '- ■' ■ 



hi 


at 


mm 




ambiguous response from the Egyp- 
" the de- 


dan authorities. They allowed the i 
sort sands to dose over the assassins 
of an Israeli diplomat in Cairo. Secu- 
rity officials were responsible for 






i* 


I M 



1- Pin 


' i 


zs 


'That old lady's camera looks a Utde suspicious .* 


Summit Leaves Room for Reagan, Gorbachev to Make Progress 


B RUSSELS — There is no ambi- 
guity in the delighted European 
reaction to the Geneva summit meet- 
ing. Senior officials at NATO head- 
quarters in Brussels confess it stems 
in part from relief. They had feared 
something would go seriously wrong, 
if only by miscalculation. 

But there is also unstinting admira- 
tion for the way President Reagan 
bandied his first meeting with Mik- 
hail Gorbachev and a satisfied sense 
that things are going to be a bit easier 
for everyone from now on. 

Prime Minister Margaret Thatcher 
of Britain was the only one to caution 
against euphoria at the North Atlan- 
tic Treaty Organization’s summit 
conference just after Geneva. Wheth- 
er Washington likes it or not, serious 
expectations have been unleashed. 


By Flora Lewis 


For a number of allies with strong 
domestic peace movements, among 
them West Germany, Britain, Den- 
mark and the Netherlands, being able 
to call the summit meeting a success 
is a welcome internal political gain. It 
will take the spirit out of demonstra- 
tions and wink* it harder to mobilize 
anti-American opinion. 

Eastern Europeans are also 
pleased. Mr. Gorbachev has signaled 
them that he intends to be tough on 
both economic and political issues 
inside the Soviet bloc. But the East- 
erners always manage to wangle a 
little more elbow room when Sovict- 
American tendons are eased, and 
drey lode forward to doing so again. 

One aspect of the summit session 


that will anger rightist Americans but 
that will also soothe official Europe- 
an apprehensions on both sides, is the 
concession Mr. Reagan made on how 
to pursue the human rights issue. 

The president told NATO that he 
explained in his private talks with 
Mr. Gorbachev the fundamental im- 
portance of h uman rights concerns 
for the American people and Con- 
gress. “It is part of our ideology, it is 
very profound,” is bow one official 
quoted Mr. Reagan as saying. But the 
president went on to say he had told 
the Soviet leader that the United 
States would not seek to exploit hu- 
man rights politically, that tt would 
make less noise and be quieter about 
the cases taken up. 


That was already' reflected in the 
Reagan-Gorbachev joint statement, 
where the question of rights was' re- 
named “humanitarian” problems, 
less gening to the Russians. Mr. Rea- 
gan also told Ins own staff he now 
saw that the United States had been 
pushing too hard on this pant and 
had to find a better way to do iL 
In this switch, he has tBted bade 
toward classical diplomacy, which 
puts trying to get a point across with 
a minimum of friction ahead of mak- 
ing a propaganda score. It remains to 
be seen bow this wjH.be worked out, 
but it added to the European sense 
that even though very high neg '* 
tions are ahead, the danger of 
West con front ation has passed. 


A veteran Belgian diplomat, Andrfc 
deStaercke, who retired in 1976 after 
a lifetime of involvement in interna- 
tional crises, said he sensed at last 
that tire advice Cardinal Richelieu 


gave King Louis XIII was being ac- 
d. The 


-t- 

< . t. 


It’s the Time Again to Give Thanks , But for What? 


W ASHINGTON —Thoughtful 
citizens of the United States 
cannot reflect on the sufferings of 
the world in 1985 without counting 
the blessings of America on 
Thanksgiving Day. 

It was a year of natural disasters 
in Mexico and Colombia; of famine 
in Ethiopia and sub-Saharan Africa 
that could take more lives than the 
first World War, of calamitous wars 
along in the Gulf and in Southeast 
Asia; of racial violence in South 
Africa, and terrorism. 

It was also a year of widespread 
unemployment in Western Europe 
(12.6 million in September), of mil- 
lions of refugees scrambling from 
one country of political tension to 
another, often illegally, and of an 
aims race costing over 5700 billion 
in this year alone. 

Even though glimpses of this ap- 
palling human sorrow and carnage 
were more vivid on our television 
screens this year than ever before, 
the magnitude of the human trage- 
dy and the cost of containing it is 
still almost beyond comprehension. 

Yet it may be useful in this age of 
drift and hallucination to recall the 


By James Res ton 


that these principles were a practi- 
cal guide to life; for if each citizen 
found contentment in a justly and 
richly rewarded tod, that citizen 
would not be disposed to take ad- 
vantage of his neighbor. 

Even this secular age would have 
to agree that this older spiritual 
shield is wrath preserving while the 
scientists produce a midear shield 
for their own promised land. 

For if, in ran dash of philosophy 
with the Communist states, we say 
that the individual does not belong 
to the state, we must keep defining 
what the individual does belong to. 
The Puritans sensed iL, but the 
Founding Fathers defined it better 
than anybody before or since. They 
said man belonged to his creator 
and since man was. therefore, an 
immortal soul he possessed inalieor 
able rights as a person and was 
honor bound under constitutional 
representative government to re- 
spect the rights of others and prac- 
tice the courtesy of the spirit. 


Waller Lippmann called this “the 
forgotten foundation of democra- 
cy," and wondered if democracy 
could endure at home or withstand 
its enemies abroad unless it remem- 
bered where it came from. 

“The decay of decency in the 
modem age,” he wrote, “me rebel- 
lion. against law and good faith, the 
treatment of human brings as 
things, as mere instruments of pow- 
er and ambition, is the consequence 
of the decay of the belief in man as 
something more than an animal ani- 
mated by highly conditioned reflex- 
es and chemical reactions. 

“If you teach a people that the 
character of its government is not 
greatly important, that political suc- 
cess is for those who equivocate and 
evade; that acquisitiveness is the 
ideal that Mammon is God, then 
you must not be astonished at the 
confusion in Washington. You can- 
not set up false Gods to confuse the 
people and not pay the penalty ” 

Here endeth the lesson. It was not 


intended by Mr. Lippmam as 


sermon — he died without rcfigjtqas 
faith — but it was meant as a wsair 
ing that a secular society thatfoc- 
gets its roots risks losing tire spirit 


that holds a nation together. 
There has been much evide 


evidence hi 
recent years of confusion, over what 
defends a nation. The overwhelm- 
ing emphasis has been on nriEiary 
power, which was necessary, but at 
the expense of many other attri- 
butes of national security. 

America has roach to give thanks 
for. 107,867,000 employed, and per- 
haps the beginnings of redireed tenr 
sion with the Soviet Union. .- 

But 8291,000 menroloycd; tire 
biggest debt in the republic’s Tristo- 
iy; chaos on its southern border; 
and administration figures showing 
over 33- trillion Amencans axe be- 
low the poverty line? And a htmgry 
worid that could soon be spending a 


trillion dollars a year on arms? 

We have a democratic system to 
be thankful for. But what about the 
forgotten foundation? 

• The Neva York Times. . 


foundations of the first Thanksgiv- 


le Puritans were undoubtedly 
motivated primarily by gratitude 
for survival but also by something 
more. They believed their prosperi- 
ty had come from their industry, 
discipline and virtue and not their 
virtue from their prosperity. 

More than that, they believed 


A Family Celebration lor Individuals 


that they were their brothers’ keep- 
Uld had ! 


ers and had survived by helping one 
another, dm they were the trustees 
for future generations and woe to 
set an example for a civilized world. 

Later the Jeffersonians argued 


B OSTON — Soon they will be 
together again, all the people 
who travel between their own lives 
and each other’s. The package tour 
of the season will luxe them this 
week to the family table. 

On Thursday, feast day, family 
day, Thanksgiving Day, Americans 
woo value individualism tiVe no 
other people will collect around ta- 
bles in a ritual of belonging. 

They will assemble their families 


By Ellen Goodman 


the way they assemble dinner each 
rare bearing a personality as differ- 
ent as cranberry sauce and pumpkin 
pie. They will cook for each other, 
fuss for each other, feed each other 
and argue with each other. 

They will nod at their common 
heritage, the craziness and caring of 


other generations. They will mea- 
1, the cluldrea. 





By Done Summer* In The Ortonao Swfta*L CCPVrtaW T7U. 


sure their legacy. 

All these complex cells, these men 
and women, old and young, with 
different dreams and disappoint- 
ments will give homage again to the 
group they are a part of and apart 
reran: their family. 

Families and individuals. The 
“we" and the “L" All good Ameri- 
cans travel between these ideals. 

We take valne trips from the 
Ame ric an notion of individualism 
to the American vision of family. 
We wear out our tires driving bade 
and forth between the two ideals. 

There has always been some 
pavement between a person and a 
family. As soon as we recognize that 
we are separate .we begin to wrestle 
with aloneness and togetherness. 

. Here and now these conflicts are 
especially acute. We are raised in 
families to be individuals, a double 
message that follows us through life. 

We are taught about (be freedom 
of the “I” and the safety of the 
“we." The loneliness of the “I” and 
the mtmsiveness of the “we." The 
selfishness of the *T and the bur- 
dens of the “we.” 

We are taught what Andre Mal- 
raux said; “Without a family, man, 
alone in the world, troubles with 
the odd.” And. taught what he said 
another day. “The denial of tire 
supreme importance of the mind's 
development accounts for many re- 
volts a ga inst the family." 


In theory, the world rewards “the 
supreme importance" of the indi- 
vidual the ego. We think alone. We 
write music and literature with an 
enlarged sowe of self. We are grad- 
ed, paid, - hired and fired, on our 
own iperiL Individualism is both 
exciting and cruel Here is where 
only tiie fittest survive. 

The family, on the other hand, at 
its best, works voy differently. We 
don’t have to achieve to be accepted 
by our families. We just have to be. 
Our membership is not based -on 
credentials but on birth. 

Malraux said: “A friend loves 
you forybur intriHgenra-, a mistress 
fra- your charm, but your family’s 
love is unreasoning: You were bran 
into it and of its fled) and blood.” 

The family is formed not for the 
survival of the fittest but fra the 
weakest. It is not an economic unit 
but an emotional one. This is not 
the place where people ruthlessly 
compete with each other but where 
they work fra each other. Its. busi- 
ness is. taking care, and when it 
works, it is not callous but khuf 
So we commote daily, weekly and 
yearly between one world and an- 
other. Between. a life as a family, 
member that can be either nurtur- 
ing or smothering; -Between exis- 
tence as an individual that can iflser- 
• ate -us or flatten- us. We vacillate 
between tiro separate, sets of de- 
mands and possibilities. 

The people who will gather 
around this table Thursday five in 
both of these worlds;' a part of and 
mart from each other. With luck, 
the territory they hravd bom rare to 
another can be a fertile one, a place 7 
where T* and “we” inr.»rn/-t ' . . 
On tins day at least, they wall ., 
both 



aese separate setvei _ 

Woskingfon Post WriatyrGmipJ 


cepted. The cardinal told the king 
that when he first came to serve, he 
thought tibe king's position was the 
best on everything. Then he had 
learned it was essential “to negotiate 
all the time, with everyooe. indaspe- 
dally Rome.” In these days, for 
Rome read Moscow. 

Mr. DeStaercke then turned to the 
Book of Revelation, quoting Sl 
J ohn’s letter to the Qmreh-m Phila- 
ddphia, which says, “Behold, I have 
set before thee anopeadoor and no 
man can drat h.” That is the dora of 
salvation. The imptkatirai was that 
people around tire wridd wffl not tok 
ecate hzringtiiar new hopes dashed 
agmandwufdemand that the super- 
powers uow:iDoVe on. 

AfohoBgfc Mr. Reagan got Mr. 
4ScdtadKvtB0drop:dszatsmbreak- 
, ing op '}he a wm A meeting unless' 
there wa&samegive cn “star wars," in 
Eufopean-eyesthe presdent has cn- 
gaged Imnsdf'pexsonally and deeply 
m Ite&asmtof m accbra with Mos- 
cow. Whether Mr. Reagan intends it 
or not, it tips him away from those 
. America ns compromise. 

Already, European, officials are 
looking for ways to exploit the new 
atmosphere in their own interests. 
This is particularly true of West Ger- 
many, preparing to push again fra 
more accords with East Germany. 
Chancellor Helmut Kohl’s conserva- 
tive government is just as eager for 
accommodation with East Berlin as 
are the opposition Socialists. 

This is the kind of response that 
Washington was worrying and warn-' 
ing about with its ddiberatdy low- 
key approach to the summit meeting. 
And it has developed even without 
any substantive progress. But it is not 
at all bad that the two most powerful 
leaders have edged themselves into 
constraints for improving the chance 
of peace. They have kindled hopes 
that will press them to deliver. 

The New York Times. 








< ? 
■-V 

"t 


LETTER 


ASEAN and Philippines 




As chair man, of the ASEAN sland- 
rng committee, I find the article enti- 
tled “TurraoD in the Philippines Un- 
settles ASEAN Partners,” published ' 
in your Nov. 25 issue, baseless and 
definitely not a “news analysis" 
as it pretends to be. 

At no time during the lSthnriniste- 
nal meeting of the Association of 
Southeast Asian Nations held July in 
Kuala Lumpur, nor during the two 
peelings of the standing committee 
held in Manila on Sept 3-5 and Nov. 
6-8, did any ASEAN delegates ex- 
press concern about the internal 
problems of the Philippines. We are 
aljdevdoping countries in ASEAN 
Ia«d with vaiying digrees of politi- 
co, social and economic problems. ■ 
That is why we observe scrupulously 
the basic role of noninterference in 
the domestic affairs of each other. 

IT ai all, serious concern has Wn ' 
«P«ssed by ASEAN over foreign 
mtenremion in the domestic affaire of 
*Mheast Asian countries like Kam- 
puchea. It would be unfortunate if 
onr partoera in the United Nations 
that have called fra ah end to foreign 
jjtihtaiy occupation and intervention 
m Kampuchea would now be the 
wits direct intervention 

m the Republic of the Philippines. 

P “ay be CTd a ton i the 

mhppmes. we continue to attract 
fa* 8 0 includ- 

SiSS^^.^ASEANmem- . 
ber-states tosuufym our colleges and 
rajojties because of th&anmtra- 

SSEsasssf 

tdsPV'NSA 


S 


.\..v : z: « 

. « ■ ? ‘ 

: S ' 

- ' T 


- 5 1 


I 

t ■ 


i': . i . 

. 5- 


• ? 3 

* . C - 


1 

’ ? 


■" i -U' 

» 


•ar. 


dtrF*,7~n “SO m the Mid- 

S&SSKSSSa 


Manila 


• ■*- 
> . 








-L , !• Zik* m.-S ~ ./ 

• - .'■"■ZiK 


:; 1 ; v-. 





‘lli. !> 


INTERNATIONAL HERAU) TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


The 'Eurosclerosis 9 Doctor Prescribes Some Bitter Medicine 


Page 5 



1 Jj. 


-:sS$§ 

■ 




^ f Enropessimism 
' described a mood, 
and I thought we 

needed a word 

to analyze the 
disease and 
prescribe a cure.’ 

Herbert Giersch 


By Joseph Firchett 

Intemuthnul Herald Tribane 

KIEL, West Germany — “Eurosclerosis" 
— hardened economic veins and arteries in 
Europe — is the diagnosis cornel by the 
controversial West German economist Her* 
bertGiersch. 

Economic and soda] rigidities, in Profes- 
sor GicrsdTs view, nwmiain a false stability 
that is handicapping Europe today. “Eu- 
rope’s economies are as flexible as they used 
to be," be says, “but the need for flexibility 
has become much greater with slower, more- 
difficult growth and a dramatically more- 
competitive world environment-” 

Professor Giersch, 64, was speaking in his 
office at Kid University, where he heads the 
Institute for World Economy. 

“You don’t see the crisis in Europe — 
unemployed people do the best they can on 
benefits, they keep up their homes, they keep 
up appearances," he says. 

Beneath his office windows, the city’s 
shipyards had a look of tidy respectability, 
but they have been unablejo keep up with 
Pacific competition, and no new businesses 
have replaced them. 

The term “Eurosclerosis,” he says, flashed 
into his mind two years ago after a long, 
fruitless discussion about wbat was then be- 
ing termed Europessimism. “Europessimism 
described a mood, and l thought we needed a 
word, like a medical term, to. analyze the 
disease and prescribe a cure." 

■ In his diagnosis, the innovative powers of 


European industry have been crippled be- 
cause subsidies have made them dependent 
on government bureaucracies and, above all, 
because of rigid labor regulations. 

Postwar Europe's commitment to full em- 
ployment, when confronted with economic 
decline in the 1970s, hardened into an at- 
tempt to guarantee jobs in all circumstances, 
he argues. In many cases this extended even 
to guaranteeing workers that they would not 
have to change companies within the same 
industry. 

Collective bargaining, which was designed 
to defend the rights of workers, functions 
today to protect them only temporarily while 
impeding industrial changes that might 
eventually restore growth. Professor Giersch 

contends. 

For example, he notes, inflexible mini- 
mum wages imposed by collective bargain- 
ing prevent the establishment of some under- 
paid jobs that could be a starting point for 
the unemployed. 

“We need partial deregulation from em- 
ployment rales," be says, “especially to 
break down barriers for the young, who 
otherwise may never obtain a foothold in the 
workforce." 

In European discussions of industrial re- 
form. he says, the overall public interest 
rarely emerges in public debate, which he 
insists is dominated by unions, established 
businesses and other groups with a vested 
interest in the stares quo. Groups, notably 
young people and minorities, that want more 
“openness” in the system are either weakly 


represented or turn to the underground 
economy, he contends. 

Professor Giersch notes that postwar Eu- 
ropean wages rose steadily until the early 
1980s. Since 1970, when hourly pay rose in 
the United States by only 5 percent above 
the inflation rate, it rose 40 percent in Eu- 
rope. 

This rise was particularly damaging. Pro- 
lessor Giersch rays. because the increases 
were largely in social benefits, not take-home 
pay. Nocwage benefits account for SO per- 
cent of labor costs in West Germany and 6G 
percent in France, compared with 2S percent 
in the United States. 

As a result, there is less money in Europe 
for pay raises since corporate earnings are 
channeled increasingly into guaranteed uni- 
form benefits, which often are regarded as a 
disincentive to work. Professor Giersch 
notes that paid sick-leave in West Germany 
is increasing steadily — and 70 percent of 
sick days fall on Mondays or Fridays. 

In his view, another major side-effect of 
inflexible labor conditions is a distortion of 
investments in European technology. Euro- 
pean businessmen, be says, teed to invest in 
technology simply to reduce the workforce, 
squeezing out the least efficient workers and 
gening maximum productivity from survi- 
vors. 

In contrast, US. and Japanese industry 
often buys robots and computers to expand 
production capacity or to manufacture new 
products, thus creating wealth and jobs. 


The effect. Professor Giersch says, aggra- 
vates the “tcchuo- pKiimism” that pails 
show is strong among European young peo- 
ple. .Many of them, he continues, view tech- 
nological progress as a threat to jobs, not as a 
source of new industries and a better future. 

Among hi» solutions, he proposes tempo- 
rary arrangements that include tax holidays, 
fewer regulations governing working condi- 
tions and a dispensation from minimum- 
wage nequiremeca or. in West Germany, 
from the wage levels set by nationwide col- 
lective bargaining. Such arrangements, he 
says, would increase European- ' incentives 
to stan companies. 

“Europe has major untapped entrepre- 
neurial potential,” he says, “particularly; 
among young people, women and the mid- ; 
dk-ma cage-mem of existing firms.” Small | 
companies are needed in Europe, he adds, I 
p artioularh' in the triil-atid-error process of 
finding new applications for micro-electron- 
ics. ‘ | 

Other European rigidities on Professor j 
Giersch's list include the political constraints [ 
on industries subsidized or owned by govern- 
ments and what he terms “noicriousiy high" 
taxes, phone charges and rail and air-travel 
prices in comparison with U.S. and Japanese 
charges. All siphon, off purchasing power, 
making Europe less competitive and handi- 
capping industrial innovation, he says. 

“Europe’s weakness is not teclmological.” 
Professor Giersch concludes, “it’s institu- 
tional." 


PHILIPS POCKET MEMO 

YOUR ELECTRONIC NOTEBOOK 

When you consider 
that you speak 7x raster 
than you write, you’ll see 
the benefits of using c 
PhSips Pocket Memo os on 
electronic notebook. 

Ideas, notes and reminders 
can be instantly recorded for 
reference later. 

Test a ftiilips Racket 
Memo at your office 
equipment dealer today or 
write for information. 

PHILIPS POCKET MEMO 

iots mcnsNC ncrbook 



•’.V-.;;'- ii.-ia.Tt- irAwnoror. clou/ Blips ftxfel memos. 

-~>s 

Nome 

Positron 


Company 

Address 

Country 

PHILIPS 

r * fl U C*t>sl Etpjipmem. 

A-llp! Vvrm Tussle* Siwj 1 M *i 



Europe Is Pinning Its Hopes of Economic Revival on New Approaches 



-a»l ;i tiZSir ViViiVi 


i«- 


io Mahe Pj* 


o 


mt: 


- • -*-eiet£W 

- 1 ’-ntsrA' 

• • !„ "“‘■t 

.• ...: 

... 

■ r 

; '.r 

• ”cr :r. 

•’ -^’Aesarjj 
■ - •** • tr.rc m 
■‘./asraiE®: 

'■ ■“ "-Wi 

' ■ — • Mr is;.- 

• fc-sT 

• ^TSTTU! HIT; 


(Continued from Page 1) 
industries that brought prosperity 
to modem France — coal mining, 
steelmakmg, textile weaving, ship- 
building — LUk was stolidly watt- 
ing for an economic recovery. 
White its patience lasted, there was 
no market for social and economic 
innovations. 

Today Lille’s heavy industries 
are surviving because of govern- 
ment subsidies. French planners 
admit (hat these industries wfl] nev- 
er flourish again and say that new 
growth can come only from new 
kinds of businesses. 

And so the government has 
launched a sweeping effort to mod- 
ernize France's economy. A crash 
program in computer literacy put 
consoles in the classrooms at fW 
teur and in nearly 160,000 other 
public schools throughout the 
country last September The Busi- 
ness Shops are encouraged. In par- 
liament, legislation has been draft- 
ed in an effort to slash layers of red 
tape complicating employers’ deal- 
ing with labor. 

“1 think the cultural mold is 
Mphanging in France, not in the revo- 
lutionary style we like to believe we 
practice, but slowly chang in g to be 
more favorable to small entrepre- 
neurs,” said Alain Rhamage. the 
national coordinator for the Busi- 
ness Shops. “French people are los- 
ing the managerial mystique, which 



Gonna 


Hie computer at school, the Lycee de Bessi feres in Paris. 


Hong! therapy to increase opportu- 
nities for economic activity.” 

The U.S. business, writer Peter 
Drucker goes further, arguing that 
the spread of management skills 
and the adoption of computer tech- 
nology have bred an. “entrepre- 
neurial society” in the United 
States. 

Is his book, “Entrepreneurship 


meant the bigger tife bener -r-Jot -and Innovation, " 'which is b ecom- 
mdustry and for govar nm enL” mg la best seller in Europe, he con- 


'JrprEij 

/ • • Ju i— 

- vjfeca 

• ;• it sr EC 
.■ .-.C£J 

c ii'rffida. 
- u-.:.ifSTX2! 
■ • -arKS 

• .*: 

• -r..r. : .. sf • 

..-j CviL?«2 

u 

j-r=rt 

- S«& 

. vr,s:ss* : 

- -i^.»s*isc 
; ■ . .. : &ff m * 

' ... 

. '• .; 

' “ " . i-»USC^ 

: ' ■■■“. "iih 


luai 



".A >>*<.. 

■ 

•• •• r-.^^ 

_. t' -^c r. 
- o* 

■■ 

■ c-'-O* 

■ ■ 

» * . %■* 

• ”' m .d s “4 
.. ^ 

■ - " . f~ 

• :c.v 

• — . -J !>■ 

- . ■ s'. ■ A 

. -e ,$•' 

’ ■ “• 

. • • . i *• .-V 


■ vt y .* 

fc “~ j“' 
, ^ 


So m e tim es cautiously, similar 
experiments in commercial and so- 
cial innovation have begun 
throughout the 10 nations of the 
European Community and .sur- 
rounding countries. 

“European industrialists and po- 
litical leaders are still very deter- 
sive, which is a poor attitude for 
bold thinking about how to go for- 
ward," says Shiriey Williams, a 
founder in 1981 of Britain's Social 
Democratic Party. “But there is a 
catch-ap-and-coinpete mood tak- 
ing shape in the European con- 
text." . 

The hew mood, according to nu- 
merous West European business- 
men and analysts interviewed in 
recent weeks, corresponds to a feel- 
ing that the industrial world is 
passing a watershed, not just a 
slump. After a postwar era of easy 
economic growth* which centered 
an the rebuilding of industries 
largely based on prewar technol- 
ogies, the feeling now is that Eu- 
rope’s heavily export-dependent 
industries have wasted a decade in 
recognizing a fundamental change 
in their competitive euvironmait. 

As a liberalizing tide of govern- 
ment deregulation has released the 
commercial potential of new tech- 
nologies, U.S. and Japanese corpo- 
rations — using computers’ grow- 
ing ability to talk to each other by 
telephone — operate globally with 
great agility, juggling resources to 
target markets and overwhelm 
competitors. The victims include 
Europeans in their own domestic 
markets. 

“Computer technology, allied 
with the modern telecommunica- 
tions that have become part of 
data-p recessing, enables big com- 
panies to attack global markets,” 
confirms the Italian industrialist 
Carlo de Benedetti, who has 
achieved record profits al the Oli- 
vetti office-equipment company 
and who has joined with AT&T to 
dhallwnpft EBM in Europe. 

Tn this last move, Mr. de Bene- 
deiti reflects Italy’s business cli- 
mate. The country teems with small 
companies (hat are more innova- 
tive and profitable than Europe’s 
traditional industrial gian ts and 
amawis other Europeans by its so- 
cial and technological ingenuity. 

At the same time, Italian compa- 
nies consistently bypass inter-Eu- 
ropean pnianr»»g to form partner- 
ships with . U.S. and Japanese 
companies offering technology and 
market access. 

This technological threat has be- 
come more urgent because Eu- 
rope’s traditional industries face a 

rising challenge from newly indus- 
trialized countries, which can man- 
ufacture cheaply because of lew 
labor costs or cheap energy in 
newer plants. 

Europe’s economic problems are 
“sot a cyclical downturn that can 
be treated with monetary and fiscal 

manipulation,” says Herbert 
Giersch, the West Goman econo- 
mist who heads Kid University's 
Institute for Worid Economy. “It is 
a long-term trend, but it can be 
reversed if Europe applies constiti** 


tends that small companies 
cope with human needs' and new 
technology more effectively than 
established corporations, produc- 
ing a lively economy with a few 
“winners" that grow into global gi- 
ants. 

This new brand of capitalism — 
a break with a century-long quest 
for bigger factories and govern- 
ment, bigger schools and other so- 
cial services — is only starting to 
reach Western Europe, Mr. 
Drucker says. 

He finds corroboration from Ed- 
ward J. Streator, the U.S. represen- 
tative at the Organization for Eco- 
nomic Cooperation and 
Development, the Paris-based co- 
ordinating body far 24 non-Com- 
munist industrial nation 

“More and more European gov- 
ernments appear willing lo give the 
entrepreneur a chance,” Mr. Strea- 
tor has said. “West European gov- 
ernments from conservative to so- 
dafisi are reviewing their options 


and finding ihai markei-ori ented 
policies, not planning, may be the 
appropriate solution.” 

What binds the differing govern- 
ments is that they aQ remain sty- 
mied by unemployment problems 
and slow growth. European leaders 
agree on two major reasons for 
their predicament: 

The first is their countries' lag in 
technology. The European ~ Com- 
munity will run a. $ 12-billion trade 
deficit this year in “information 
technok>gy,’ , ’or computers and the 
software that run them, imported 
from the United States and increas- 
ingly from Japan. 

Already more than half of the 
information technology produced 
in Europe is the work of U.S. and 
Japanese subsidiaries. Citing that 
trend. Dr. Robb Wilmot, head of 
Britain’s computer-maker ICL. 
predicts that in five years the sub- 
sidiaries' share of the European 
market will expand to two thirds. 

The lag is extensive. EC officials 
note that Europe’s output of high- 
technology products for the last de- 
cade has grown less than 5 percent 
a year, compared with more than 7 
percent growth in (he United States 
and 14 percent in Japan. 

Only in telecommunications is 
Western Europe more or less equal 
to the United States and Japan, 
rays Mr. Seitz, the director of plan- 
ning at West Germany's foreign 
ministry. He adds: “Even that bas- 


tion is endangered because com- 
puter technology and telecom- 
munications technology are 
merging.” In a process called digi- 
talization. phones are beginning to 
communicate with electronic 
pulses, the same technology used in 
computers. 

The second major predicament is 
the contrasting employment out- 
look in the United States and West- 
ern Europe. 

In the decade since the rapid 
increase in world oil prices stunted 
growth, the U.S. economy has 
gained 24 million jobs, a peacetime 
record whether measured in per- 
centages or in absolute numbers. 
At the same time. Western Europe 
has lost perhaps as many as 4 mil- 
lion jobs. So the Western Europe 
countries, whose economies pro- 
vided 20 million more jobs than the 
United States in 1970, cow have a. 
least 8 milli on fewer than the U.S. 
total of 106 million. 

Poor job creation, in the years 
after 1973 when the baby-boom 
generation was reaching employ- 
able age and more women sought 
jobs, has given Europe its unem- 
ployment predicament, with a job- 
less rate approaching 1 3 percent in 
the EC. 

“Unemployment aas become 
Europe’s gravest criri?. i; has defied 
all of Europe's tradi-ii^oa: remedies 
and it is forcing :c.tur.is u > vunsiue. , 
radical aliamahvts.” it ■ Ateafr'ca-'J 
Rommel. Stuttgart’s reform-mind- 1 
ed ' mayor, echoing the views of 
many politicians and industrialists. 

In answer to this, the new wave 
of economic reforms is similar 
throughout Europe in seeking to 
revive business dynamism in fun- 
damental ways. Many educational 
and social assumptions are being 
challenged — including the prevail- 
ing idea that industrial growth is 
secondary to the need to redistrib- 
ute wealth more thoroughly. 

Changes vaiy widely: loosening 
state monopolies in products and 
services ranging from arms to tele- 
communications: forging multina- 
tional industrial partnerships in 
such high-tech fields as electronics; 
legislating new academic and re- 
search priorities; lifting tews ban- 
ning most commerce on Sunday. 

None of these changes has signif- 
icantly improved the outlook of 
any European country yet. Recent 
twitches of economic revival in Eu- 
rope, most economists agree, re- 
flect the decline since last summer 


in the U.S. collar's exceptional 
strength. 

Nevertheless, new approaches 
are widespread and obvious. 
France's Socialist government is 
trying to end the social, and often 
legal, stigm 2 on entrepreneurs 
whose gambles end in bankruptcy. 
British businessmen, long turned 
toward the Commonweal th, are 
pushing the Thatcher government 
for closer commercial integration 
into the EC. Italy has started dis- 
mantling wage settlements indexed 
to inflation. ’The Netherlands has 
limited welfare costs. West Germa- 
ny is trying to enliven its stock 
markets.' 

The EC, concaved initially as a 
barrier to warfare between France 
and West Ge rman y, took little ac- 
count of businessmen's thinking at 
the stan. The founder of the Com- 
mon Market, Jean Monnet. delib- 
erately excluded industrialists from 
the informal network of political 
leaders and labor leaders that he 
recruited to promote his ideas for 
European unity. 

"Thai would be unthinkable to- 
day,” says Baron Lambert, head of 
the Basque Bruxelles Lambert. 

The EC cow is regarded by many 
European businessmen as the vehi- 
cle to help them match their U.S. 
and Japanese rivals in market size 
and operational freedom. 


These businessmen — including 
20 of Europe's most prominent cor- 
porate heads, who have formed the 
Round Table of European Indus- 
trialists — are abandoning their 
traditional iow profile and are 
starting to lobby publicly for re- 
forms, notes Kasper Cassani, the 
Swiss-born head of IBM-Europe. 

Adds Jacques Deiors. France’s 
former finance minister and now 
president of the Commission of the 
European Community: "The most 
ardent supporters o i a united Eu- 
rope today are the businessmen 
and other groups who are suffering 
from the lack of a Europe-sized 
market anti a European-scale 
space.” 

It is a b.'.sie fact lhai re^earch- 
und-develupmen; cost*, especially 
for products containing electron- 
ics. are toe* high to be recovered in 
the market of any single European 
nation. 

Above ail. Europe needs to 
"change scale.” says a statement b> t 
the Round Table of European In- i 
dustrialists. The top priority, the I 
group contends, is a European 
Commission plan to make Europe 
a market of 320 million consumers 
— larger even than the U.S. market 
of 250 million. 

(Monday: Moves to remodel the 
Uncommon Market.) 


Hamburg -Hannover - Dussektorf - Bremen - Munchen 
Nurnberg - Kolri - Frankfurt - Stuttgart -New York 



Quartz movement - Water resount 5-aim 10 K gold, 

-old and steel, all steel. Natural rubber strap. Registered model. 


. . ein Spitzengerat besonderer 
Art, das alle Wiinsche erfullt, 
die man heute an eine Kamera 
stellen konnte . . .” 


Germany’s -Foto-Magazin leaves 
us with nothing else to say. 



TUTTl FOTOGJtAFi 


Canonffi 

European camera of the year ’84. 




* I s f 


'S'" 




( ar/fer 


VENDOME 


LUXURY SLIM CIGARETTES 



ley mu/t de ( ar/ft’f 






I 


s» 

H 


W» 

54> 

3j 

3. 


X 

X- 

x> 

Es 

Pr 


CO 

xo 

1- 

Z' 

l- 

2J 

r 

2 . 

r 

Bs 

Pr- 


so 

5XH 

6. 

7* 

7. 

A. 

A* 

a; 

A. 

Sj 

A. 

Es 

Pr 


SO 

100 

IB 

u 

2t 

H 

1* 

If 

If 

U 

If 

If 

ES 

Pr 

SO 

AOJ 


Es 

Pr 


Cf 


s 


cc 

37. 

1( 

If 

1i 

Ji 


i 


Pfr 

Op 

do 


13. 

SF 

1 

1 

1 

1 

1 

501 

CD 

7 

7 

Oi 

DA 

3 

3 

3 

3 

3 

3 

3 

3 

FF 

iX 

JY< 

* 


Page 6 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


SCIENCE 


No Fanfare to Mark Centennial of 'Killing Machine 9 


By Malcolm W. Browne 

■V« , n' York Times Serve* 

r p HE centennial year of a weap- 
~ on that may hive killed more 
people than an\ olher is passing 
•j nob-served. 

Machine guns atiraci little notice 
from the makers of military bud- 
gets. because they are relatively 
cheap. The best . 50-caliber heavy 
machine gun money can buy costs 
only about $5.000.’ and automatic 
assault rifles that can double as 


light machine guns go for only a 
few hundred dollars each. “Gov- 
ernments spend so heavily on nu- 
clear submarines and missiles," 
said an executive of a machine gun 
factory, "that the manufacture of 
trucks and guns gets the lowest 
priority. That’s (he paradox of to- 
day’s armament industry." 

Nevertheless, no array in the 
world can afford to do without ma- 
chine guns, and the models being 
manufactured today are likely to 


(tribune 


mini I Ixruders Vo* tn Push 
r an Eetmomic Recwerv 



Take advantage of our special rates for new subscribers and 
we II give you an extra month of Tribs /reewith a one-year 
subscription. Total savings: nearly 50% off the newsstand 
price m most European countries! 


To: Subscription Manager, International Herald Tribune, 

H 18T,avenLieOx3rles-de-Gaulle, 92521 Neuilly Cedex, France. 


l 


s 


□ t2rr>lnlhi 
{+ 1 month 

□ £ months 

( + ? Ae«lcsfree| 

□ ?mcnvhs 

{ + 1 fc>?e) 


□ My deck 
is*?ndc>Kcf 



MM 

HEB5S3: 


Fleci»ch..iiger • 

□ AvC&S 

□ Ameixon 

□ Oner-, Out- 

□ Euroccvd 

□ AAostecard 

□ Visa 


S««fcd hwdwoy Ron 

r’.gM Egbert pet tric'd fp ne«i jUaC'bsnirf* 

I G^unry 

1 ?earl omos. 

3mas. 

Atsrxj 

A.Sdt 

-iWO 

3.170 

1.196 

Be lot*" 

Brr. 

9.02) 

JiCo 

26 66 

De*n-»or«: 

Dfc 

1.930 

1.040 

ST) 

Ra’cnd 

FM! U10 

:eC 

414 

ftcnci? 

F.F 

L2» 

444 

35° 


DM 

J82 

2bi 

144 

OeoiE^an 

r 

'01 

55 

X 

Oewe 

o 

-.5600 

6.404 

4.C92 

I'ieftier.crrii 

R 

SI 

2°S 

166 

irefaxi 

il' - . 

115 

62 

34 

ltd. 

Lre 

3b 000 

149040 

82.000 

U-iembcv-a 

LFr 

9.020 

4 676 

266 8 

Haw-, 


'.420 

? til 

423 

Pu-n.oi 

C X 

52 SCO 

7.450 

4090 

Soar 

A-V 

2V200 

V.3K 

6J30G 

S»sdeo 

5A-. 

1.470 

7=5 

XH 

Swnef'jid I 

432 

233 

129 

fcesjtf SsMtfX. Afr«a.ro-»er french 

Alrco USA.frrnd - r cfr--n«a \Vi5e Era 

1 »i rol 1 

i^orAfrKaCcrwla.tosiAmenca'JV»Stci« 

Am 1 S| 4ttj 23S| IX 


Cade'pry date . 


. Signature. 


ChrdiXTOvtit 

la.enbsr 


r«fcme . 


Acfcfrets. 


Ctv. 
Tel _ 


• Country . 


Tde. 2 ^ 5 J 


£ 


remain in service for many years. 
George A. Strichtnao. retiring 
board chairman of Colt Industries 
Inc., said in an interview that he 
expects the M-16 assault rifle to 
remain the primary United States 
infantry weapon until well into the 
2Ist century. The M-16. which is 
produced by Colt fires a burst of 
bullets with a single pull of the 
trigger, and is thus a form of ma- 
chine gun. 

Regardless of manufacturing 
priorities, moreover, there seems to 
be no shortage of machine guns in 
the United Slates or elsewhere in 
the world. 

The main supplier of machine 
ins to the United Slates’s armed 
orces, Saco Defense Inc. (a subsid- 
iary of the Swiss-owned Alusuisse 
of America Inc.), is situated in a 
tidily landscaped suburb of Port- 
land, Maine. 

Equipped with the latest in com- 
puter-controlled robot forges, 
lathes, reamers, and heat-treating 
and plating machinery, Saco's 

highly skilled work force of 800 
lops up and modernizes the ma- 
chine gun inventories oF armed 
forces around the world, including 
those of the United States. 

Two main objectives in all new 
designs, said a Saco spokesman. 
William K. Gear an, are lo increase 
the service lives of guns while re- 
ducing their weigh L 

Saco's three main products are 
the M-60 7.62- millimeter machine 
gun < the standard light machine 
gun or the U. S. armed forces since 
I960): the M-2 .50-caliber heavy 
machine gun {first made in 1933). 
and the M-19 40- millimeter ma- 
chine cannon -(first tested at the 
close of the Vietnam War). 

Each of these guns works on a 
different principle: gas, recoil and 
blow-back operation. But the three 
principles have one thing in com- 
mon — they were all patented by 
Hiram Maxim between the years 
1SS3 and 1885. 


I bad known in the States. He said: 
‘Hang your chemistry and electric- 
ity! If you want to make a pile of 
money, invent something that will 
enable these Europeans to cut each 
others’ throats with greater facili- 
ty’” . 

Maxim set up a workshop in 
London and within three years was 
building the world's first practical 
machine guns . (Most of the earlier 
rapid-fire guns, notably the multi- 
barreled gun invented by the 
American Richard Jordan Gatling 
in 1 86 1, had to be cranked by hand, 
Maxim's gun required only steady 
pressure on the trigger to main tain 
a continuous firing cycle, including 
reloading, cocking and the ejection 
of spent cases.) 

Military historians have noted 
that almost all of the important 
designers or developers of machine 
guns following Maxim were Ameri- 
cans, and that most of them had to 
go to Europe to implement their 
ideas. Benjamin B. Hotchkiss set 
up his factory in France, Colonel 
Isaac N. Lewis went to England to 
make the Lewis gun, John M. 
Browning built a plant in Belgium 
(where the guns bearing his name 
are still manufactured) and Hugo 
Borchardt moved to Germany, 
where one of his designs became 
Lhe basis of the Luger pistol. 

During his childhood in Maine. 
Maxim had been knocked over by 
the recoil of a powerful rifle, and 
had speculated on the possibility of 
putting recoil forces to work to op- 
erate guns automatically. In Lon- 
don, Maxim devised a spring-load- 
ed bolt action ibat could store up 
the recoil energy released by a shot 
and use that energy for readying 
the weapon for the next shot. 


cammed up aad down in a vertical 
slot. 

Maxim's “Hale daisy of a gun." 
as he called it. immediately attract- 
ed the interest of the Duke of Cam- 
bridge and British royalty. In one 
of his machine-gun demonstra- 
tions. Maxim impressed the royal 
family by blasting the letters VR 
(for Victoria Regina) into a targeL 
The inventor sealed in England, 
became a British subject, and was 
finally knighted for his achieve- 
ments. 

The advent of the machine gun 
meant that for the first time a 
bandful of gunners could subdue 
masses of enemy infantry, revolu- 
tionaries. strikers or hostile crowds. 
Initially used to help build colonial 
empires, the Maxim gun did its first 
large-scale slaughtering in 1893. a 
scant eight years after the gun's 
invention. Fifty British security 
guards of the Rhodesian Charter 
Company in Africa brought four 
Maxims' to bear against Zulu 
tribesmen, and in less than 90 min- 
utes the guns had killed 3,000 of an 
attacking Zulu force of 5,000. 

On Sept. 2, 1898, the Maxim 
fought its first real battle when Sir 
Herbert Kitchener (assisted by a 
young Winston Churchill) met an 
army of Moslem fundamentalists 
at Omdunnan on the Nile. The 
British lulled or wounded more 
than 20,000 of the enemy while 
sustaining only light casualties of 
their own. 



IN BRIEF 


Am< 


Ma 


AXIM, who lived from 1840 
to 1916. is rarely mentioned in the 
same breath with Thomas A Edi- 
son. Alexander Graham BelL the 
Wright brothers, and the other 
great American inventors of his 
day. But in “The Social History' of 
the Machine Gun." the historian 
John Ellis points oul “Without Hi- 
ram Maxim, much of subsequent 
world history might have been dif- 
ferent." 

The Maine-born inventor, more- 
over. was as prolific as his more 
famous contemporaries. As Edi- 
son's chief rival in the design of 
electrical systems. Maxim installed 
the first electric lights in a New 
York City building (the Equitable 
Insurance Co..) in the late 1870s. 
Maxim’s method of hardening the 
carbon, filaments of incandescent 
bulbs paved the way- for the light 
bulb credited to Edison. Maxim's 
airplane might well have flown be- 
fore that of the Wright brothers, 
had it been powered by something 
lighter than a steam engine. 

In his autobiography “My Life,” 
Maxim described countless gadgets 
he invented, some more successful 
than others. Among the products of 
his youth were an automatic sprin- 
kler system for a flour mill and an 
automatic mousetrap. The latter 
was designed so that the struggling 
of each victim would reset the trap 
for the next mouse. 

Maxim never reached the pinna- 
cle of success in his native land, but 
a turning point came for him dur- 
ing a business trip he made to Eu- 
rope. He later wrote to The Tunes 
of London: “In 1882 1 was in Vien- 
na. where I met an American whom 


IONG the most difficult 
problems Maxim's machine gun 
action had to solve was the han- 
dling of powerful rifle cartridges; a 
way had to be found to keep the 
gun's breech tightly dosed until 
each bullet left the barreL Other- 
wise. the empty cartridge case 
would start to leave the chamber 
too soon, and the gas pressure in 
the barrel would burst the brass 
case, ruining the gun and possibly 
maiming the shooter. 

Maxim’s solution, and the bean 
of his design, was a toggle mecha- 
nism patterned on the h uman leg. 
At rest, the “leg" lay straight and 
horizontal, its swiveling “foot” 
pressed against the rear of the bolt, 
holding it tightly against the breech 
of the barreL When a cartridge was 
fired, barreL bolt and “leg” would 
recoil a short distance, remaining 
locked together until the bullet had 
left the gun. Then, as the recoiling 
mechanism continued rearward, 
the knee joint of the leg would pass 
under a tripping cam, forcing the 
knee to bend downward' and thus 
unlocking the bolL 

At that point, the barrel would 
halt its rearward motion but the 
bolt would fly backward faster still, 
hastened by another Maxim inven- 
tion, a s mall lever called an acceler- 
ator. The movement of the bolt 
would qect the spent cartridge case 
and withdraw a fresh cartridge 
from a moving fabric belt. Driven 
forward by a compressed spring, 
the bolt would then cock the firing 
pin. load the new cartridge and fire, 
repeating the cycle indefinitely un- 
til the trigger was released or am- 
munition was exhausted. 

Today’s recoil -operated guns, in- 
cluding the M-2 heavy machine 
gun. work essentially the same way, 
although the complicated knee-ac- 
tion toggle lock has been replaced 
by a simpler lock, a steel bar that is 


WoRLD war L sometimes 
called “the machine-gun war.” saw 
carnage unequal ed in all previous 
history. In just one day along the 
Somme, July 1, 1916, the British 
suffered 21.000 killed, the great 
majority by Spandau machine 
guns, the German version of the 
Maxim. 

Among Lhe developments of 
World War I was the pistol-caliber 
submachine gun (or “trench 
broom," as the Thompson subma- 
chine gun was initially called). Af- 
ter the war, the submachine gun 
became a favorite weapon or po- 
lice. strike-breaking factory guards 
and gangsters. 

According to Edward C. EzelL 
curator of armed forces history at 
the Smithsonian Institution, no one 
knows how many people have been 
lolled by all the variants of Max- 
im’s invention, nor how many ma- 
chine guns there are in the world 
today. “But the numbers must be 
astronomical," he said. “Take the 
AK family of Soviet assault rifles. 
Since the AK can be fired in con- 
tinuous bursts by keeping a finger 
on lhe trigger, it is a kind of ma- 
chine gun. To date, something be- 
tween 30 million and 50 million 
AKs have been manufactured." 
The United States has never 
matched Soviet production of auto- 
matic weapons, but has neverthe- 
less manufactured more than seven 
million M- 1 6 assault rifles since the 
M-16 was introduced in Vietnam. 

Neither governments nor private 
organizations keep track of the 
number of machine guns in exis- 
tence, but the aggregate today may 
be somewhere in the vicinity of 100 
million. “Moreover,” Dr. Ezell 
said, “most automatic weapons 
don’t go away, they’re just recy- 
cled.” 

Boastful though he sometimes 
was, Maxim might not have mind- 
ed the absence of any centennial 
observances this year for his gun. 
Toward the end of his life he 
seemed somewhat chastened by its 
ghastly effects. “Had it been any- 
thing else but a killing machine." 
he wrote, "very little would have 
been said about iL” 


Body Qocklinked to Clots 

BOSTON (Combined Dispatches) — A study of 
3.000 patients has found that blood clots in the arteries 
supplying blood to the heart are three. times more 
likely io begin between 6 A-M. and noon than any 
other lime of the day. 

Writing in the New England Journal of Medicine, a 
Harvard Medical School research team said it appears 
that the body's internal time dock plays an important 
role in blood chemistry. This in turn determines at 
what time of day a person about to have a heart attack 
will begin to have symptoms. The Andy said workers 
on variable shifts disrupt their internal clocks and that 
this disruption might explain why these people are at 
higher risk of having heart attacks; 

“This represents a big new area to research,’’ said 
Dr. James E. Muller, pan of the study team. If 
researchers can learn why starting the day triggers 
attacks, they might be able to devise new strategies to 
stop them." 

The doctors theorize that the blood becomes more 
likely to clot just after people awaken, leading to the 
increased occurrence of morning heart attacks. Dr. 
Muller said 14 other published studies have noted that 
heart attacks seem to happen in the morning. But until 
now. many doubted that the phenomenon was reaL 

(UPI,AP) 


worn by sufferers of the disease m an experiment 
conducted at the hospitaL In September the virus was 
found in tears, but the Finnish team is the first to 

detect it on lenses, be said. 


Smaller Chickens for Japan 


TOKYO (Renters) — Space is scarce m Japan, even 
in a chicken coop, so a Japanese researcher has spent : 
the last 15 years at his farm near Nagoya breeding: 
mini-chickens. - . 

He said they cackle just as loudly but take up a third’ 
less spare. They also cost less to keep because they 
only ear 80 per centos much as a normal bird, but the! 
figgs they produce are only 10 per oenr smaller than; 
normal egg?, he said. 


New Sources of Cattle Food 


Pot-Smoking Pilots Tested 


PALO ALTO. California (WP) — The hangover 
effect of a single marijuana cigarette can interfere with 
a pilot's ability- to land an airplane — even 24 hours 
after the joint was smoked, a study by Stanford 
University and the Veterans Administration has 
found. 

Researchers used computers to measure the abfliry 
of 10 airplane pilots to perform landing maneuvers 
after smoking a cigarette containing 19 milligrams of 
tetrahydrocannabmoL the active ingredient in mari- 
juana. That's the equivalent of a “strong social dose" ' 
of marijuana, the researchers say. 

The 10 lest subjects —all experienced privarepilots 
and marijuana smokers — woe tested in a computer-' 
ized flight simulation laboratory at the Veterans Ad- 
ministration Medical Center in Palo Alto. They were 
tested about one hour, four hours and 24 hours after 
smoking the marijuana. At each interval, the study 
found, file pilots showed “significant impairments” in 
a variety of tasks involved in landing an airplane, 
compared with tests made before they had smoked the . 
cigarettes. 


URBANA. UHnois (NYT) — Using a weak solution 
of ordinary hydrogen peroxide, crop scientists at the. 
University of Illinois have found a way to make more- 
of the food energy in corn stalks, corn cobs and wheat , 
straw available for digestion by cows and sheep. They'; 
said the technique could ultimately increase the supply 
of food for humans. 

In an experiment in cooperation with the federal ; 
Agricultural Research Sendee, the researchers soaked ■ 
wheat straw in a weakly alkaline solution of hydrogen , 
peroxide. They fed some sheep with unaltered wheat 
straw, others with die peroxide-ureaied straw. The.' 
animals digested twice as much of the energy in the 
treated straw as in the untreated straw., more than 60 - 
percent instead of 30 percaaL 

Cattle, sheep and other numnaxus have digestive^ 
tracts with the rare ability to derive food from cellu-r 
lose, but thecdlulasema plant's tougher, woody parts 
is tightly bound to- mother substance, lignin, tha t is 
highly resistant to breakdown by the enzymes and' 
bacteria in a ruminanfs stomach. According to the 
scientists, the peroxide appears to break down lignin’s 
hold on the cdhdose. 

Super Salmon Bred in U.S. 


iefaMui 


- -rttf 


if 


f jfe. 


AIDS Virus Found in Leases 


HELSINKI (Reuters) — Researchers in Finland 
have detected an AIDS virus in contact lenses and a 
hospital official has called the risk of transferring the 
disease through lenses “minimal but potential". 

Dr. Timo Tervo of Helsinki University Hospital 
said Monday it was extremely important fra- lenses to 
be disinfected with peroxide or by heat before bong 
passed from person to person, which could happen in 
fittings at an optician. 

He said the virus HTLV-3, which causes 
immune deficiency syndrome, was detected in 


EAST LANSING, Mic&igaa (NYT) — Scientists at : 
Michigan Stale U niv er si t y are developing a type of ' 
salmon dial cdaaqt qpawn and amid therefore live to a 
ripe — and very Iargb—dlda^. 

The goal of fhe project; Dr. Donald L. Garting said, : 
is to slock Lake Michigan with Cfcmoofc salmon that 
would eventually grow to weights of up to 70 pounds 1 
(31 kilograms). 

The technique involves breeding fish from eggs that : 
have been. immersed fra 10 minutes in water at a* 
temperature of 83 degrees Fahrenheit (28 degrees' 
centigrade). The treatment causes abnonnal cell divi- , 
sion and cre a tes two sets of chromosomes. When an : 
egg is fertilized by a spenn, a thud set of chromosomes *• 
is added, , and the resulting fish, which has an odd : 
number of chromosome sets, is sterile. 

The scientists said that the. sterile fish, both male . 
and female, would abandon ateenqxs to reproduce - 
and therefore would not undertake the up-river swim - 
to their spawning grounds. Thus, they would 
death, since salmon die once they have reprod 






- -3C.'" 




- -->■ 


Louis\£utton.Tlie art of travel. 


Vi 





a 




I 


'fc 


Some people have -a talent for 
fcrjveL They look upon travelling as a fine art. 

These true connoisseurs require the best It 
is for them that the Louis Vuitton craftsmen 
create luggage and perpetuate the tradition of 
custom-making perfected over the last 130 
years. 

These stalled artisans ensure that each 
trunk, suitcase and bag, be it of tire classic 


"Monogram* line -or the new “Challenge” 
line, beats -the., Louis Vuitton stamp of 
strength, durability .and refinement 

They meticulously select their materials:- 
traditional leather and brass, or innovative 
space-M^fabncs such as Kevlar* and authen- 
ticate their work with the renowned initials. 

The Louis Vuitton concept of -hmrage is 
unique. It has been maintained since 1834. 

In Paris ami tire major dries of the world. : 


eu 

SFi 

t 

A. 

€. 

f. 

C 

£ 

Tot 

Tot 


In Europe, e*dusjvely at the Louis Vuitton shops. 

Paris * Nice • Monte-Carlo ■ London • Brussels . Geneva • Lausanne ■ Zurich • Milan 


Florence • Oussddorf . Frankfurt - Hunbuig ■ Munich. 


LOS 

Sou 












INTERNATIONA L HERA LD TRIBl’NE, THURSDAY, NOVEMBER 28. 1985 










Oil, China’s mosi 
important export Left, 
Chinese woman 
working in an oil rig. 


Big countries, big trucks — logi- 
cal enough, but the trucks put 
together by the China Metallur- 
gical Import and Export Carp. 
•- (CMIEC) 'and UNIC Carp, of 
die United States still seem out- 
size. The Unirig truck (parts 
. made in China, assembly in the 
" United States) has a 100-ton 
payload and is used in mining 
operations in both countries. 

„ founded in January 1980, 
CMIEC was set-upj says Chen 
Qmghiud, vice president, to ac- 
celerate business dealings 
abroad and. at the same time 
help raise China’s technology 
leveL 

Its business scope includes 
the following categories: 

• The export at metallurgi- 
cal products such as ores, alloy 
seeds, rare earch metals and re- 

■ ftactoty materials.; 

• The importing of iron ore, 
L manganese ore and chrome ore. 


pensatory trade deals with for- 
eign partners on metallurgical 
industry projects. 

• Imports, of ecjuipraenr, 
machine parts and instruments 
for steel plants and mines. 

• Importing and exporting . 
of technological know-how. 

• Cooperative production of 
metallurgical equipment (such 
as the truck contract with. 
UNIC) and processing of pairs 
for foreign firms. . 

• Processing of metallurgi- 
cal products for foreign firms 
■with materials provided by 
chose firms (the so-called toll 
processing arrangement). 

Chen reports that produc- 
tion is rising every year, but 
says chat demand is rising coo — 
so much so chat his firm must 
import metals from other coun- 
tries. 

Wuhan’s huge steel-making 
complex, for example, uses 


►Joint ventures and com- about 80 percent Chinese ore in 


its production but must supple- 
ment its requirements with 
about 20 percent imported ore. 
Most of these supplemental 
ores come from Australia 
(which sends both iron ore and 
manganese ore). Other regular 
suppliers include Brazil, India, 
Algeria and Pakistan. 

Also from abroad, via 
CMIEC come technicians and 
■know-how -to help improve 
China’s production abilities. 
Both West Germany and Ja- 
pan, for example, have sent 
technicians to the huge Bao- 
shan steel complex near Shang- 
hai to train Chinese counter- 
parts. There have been 
infusions of technology as well 
from France, Britain and Aus- 
tria. 

In its rum, China exports 
technological know-how, most- 
ly to the Middle East and Afri- 
ca, in the form of helping to 
build airports, roads, apart- 
ments and office buildings. 


Will Beijing replace Paris as 
the wodd’s fashion capital? 

Not immediately. But after 
decides of churning our mil- 
lions of meters of utterly simple 
clothing, China's textile manu- 
facturers arc beginning to think 
a bit more about style. Specifi- 
cally, French style. 

"In the past,” says Liao Shao- 
qiong, deputy general manager 
of the general business depart- 
ment, China National Textiles 
Import and Export Corp., "our 
problem was to keep people 
warm, nor stylish. Now we 
have solved this problem, and 
our people want more colorful 
and more stylish clothing.” 

In August a 12-person Chi- 
nese study team went to Paris 
to study the latest fashions at 
the French showings. They're 
now busily ar work in their' 
Beijing studios. 

"We aren't sure just when 
well see the results of the 
French trial,” says Liao, "but 
come back here next spring and 
you will see many stylish gar- 
ments. We will combine Chi-, 
nese characteristics with new 
Western styles.” 

How about the current rage 
for Japanese fashion? Liao 
smiles. "Next year we will send 
a study team to Tokyo or 
Osaka." 

Back in 1961, when the cor- 
poration was founded, style was 
not a priority. Much more im- 
portant then was simply pro- 
viding enough doth to ade- 
quately clothe China’s millions. 
In I960 the total gross value of 
imports and exports was about 
$400 million. 

The dimension of the indus- 
try’s growth is reflected % the 
1984 totals for exports only— 
$4.1 billion. 

Operating under the Minis- 
try of Foreign Trade, the corpo- 
ration supervises two major 
units — China tex . Raw Material - 


\ Cl : 


kilty 




yl 


Textiles Now 
Focus on Style 


Corp. and China Garment Ac- 
cessories Corp; There are 45. 
branch offices outside Beijing, 

located in all provinces and in 
many municipalities besides. 
The corporation handles im- 
ports and exports of cotton, 
synthetic fiber, wool and gar- 
ments that use these fibers such 
as yam, knitwear and woven 
clothing as well as flax for 
linen. 

In the post the corporation 
dealt mostly with raw materials 

and semifinished products such 
as cotton yam, cotton and syn- 
thetic fabrics as well as "grrige" 
(gay) unprocessed fabrics. 

Bur now as production rises 
the structure of exports is 
changing. Almost half erf cur- 
rent exports (45 percent) is in 


the form of finished garments. ! 

In the domestic market tex- 
tile demand is soaring: in 1981, 
for example, total consumption j 
per person was 8 meters. By | 

1983 char figure was up to 11 j 
meters, and while, figures for 

1984 are not complete, con- 
sumption continues to rise. 

More and more, demand is 
for finished garments. As Liao i 
notes, "People no longer make < 

their own clothes. They prefer i 
to buy things ready-made.” 

The corporation currently \ 

does business with ICO nations 1 

and . regions around the world, i 

China has signed bilateral rex- t 

rile agreements with the Euro- J 

pean Economic Community 1 

and six nations: the United \ 

States, Austria, . Canada, Nor- < 


Metallurgy Includes Giant Trucks 


CMIEC was instrumental in 
building the huge water net- 
work linking Hong Kong with 
Shenzhen, just over the border. 

So far, Chen says, joinr ven- 
tures with cither nations are 
moving slowly, largely because 
sizable investments are needed 
before returns begin to flow in. 
One major currenr discussion 
partner is the giant Mannes- 
mann firm of West Germany, 
and there arc other deals in the 
works with North American 
and West European firms. 

Another important area of 
projected involvement is in the 
enormous iron and seed project 
being put together by Hong 
Kong multimillionaire Sir 
Y.K. Pao in Ningbo. That 
dry's large-scale port develop- 
ment scheme, combined with 
plans for significant economic 
development, makes the north- 
ern fringe of Zhejiang province 
a place for foreign traders to 
watch. 



As China’s modernization progresses, 
so must its foreign trade. 

A look at Beijing’s current expansion in the 

field of exports. 


The Key 

to Progress Is Foreign Trade 


In srunning contrast to the gen- 
oral complexity of China's on- w j 
going economic reforms, one - a 
equation is as simple as a pair of 
chopsticks: National growth re- CTi 
quires foreign currency, foreign 0 f 
currency is earned by exports, s fo 
and thus exports must increase. riJ 

An integral part of Beijing's jh, 
efforts along these lines has 
been the establishment — in the 0 f| 
years since the current wave of 
economic reforms began gath- 
ering momentum in 19" 9 — of 
state foreign- trade corporations. 
(Some trading firms have been 
in existence much longer, of . 
course, and some were estab- * 
lished only in 1984.) J 

New or old, however, rhdr 2 
assigned goal is the same: to r 
bring in the foreign exchange 
needed to finance the modem 
technology to hdp China accel- 
erate its drive toward modern- 
ization. 

China's economic founda- r 
cions seem reasonably solid L 
these days. According to official L 
figures, China's national in- £ 
come grew by 12 paeon in 
1984 and in early 1985 was soar- 
ing still more rapidly — by an 
estimated 20 percent. Inflation 
is being held down to about 3 
percent, the government • H 
claims, though there is some 
concern that the pace has quick- 
ened in 1985. 

But the overall progress indi- 
cates char Ba'jing's leadership ji; 
has got its sums right, at lease 
for rhe time being. Recent jp§ 
statements indicate that there 
will be no slackening in the JP- 
drive for economic reform. £'Z_ 

Party Chairman Deng Xiao- i n| 
ping, speaking in Beijing in lace | n 
October, said char reforms of- J O 
fered the only solution for di- . 
recting China coward develop- * 1 
roenc and prosperity. 

Deng rei rerared support for of 
current economic policy’, nod ng mi 
that "a combination of planned do 
economy and market economy the 
could further liberate produc- Th 
rive forces and accelerate their me 
development.” abi 

A Western economic spe- iry 
dalisr in Beijing noted rhar res 
China today effectively has wii 
three economies: the old-style 
planned economy, the burgeon- off 
ing "guided economy” in firr 
which the stare’s role is shrink- ma 
ing -as market forces take precc- da 


dence, and rhe "free" economy 
where, as a Westerner put it, 
“almost anything goes.” In the 
beta category Beijing observ- 
ers have noted the proliferadon 
of privace taxi firms, barber 
shops, small inns and restau- 
rants and scores of small repair 
shops. 

The continuing formation of 
official export-import firms, 
says a Western observer, is part 


case Firms" because in many 
cases that’s how rhrir assets 
were transported) sprang up. 
Most of these have now faded 
away. "Things go in cycles in 
China," one Westerner said, 
"and right now we’re in a con- 
trol cycle." 

In other areas of the econo- 
my, both agriculture and indus- 
try recorded impressive gains in 
1984. Agricultural growth by 
itself came to 9-9 percent, and 
wirh the srunning growth of 
rural industry (45 percent) fac- 
tored in, total growth (mea- 
sured in gross dollar value] 
came to more than 14 percent, 
well above rhe planned increase 








; •• 




Above, the luxurious Great Wall Hotel: Inset, Party Chairman Deng Xiaoping. 


of the effort to break major 
ministries away from produc- 
tion and sales operations and la 
them get on with broader tasks. 
The new trading firms operate 
more or less their own ; accounr- 
ability and ultimate responsibil- 
ity for success or failure now 
rest with them and no longer 
with the ministries. 

A year ago the growth of 
officially sanctioned trading 
firms had a parallel in the free 
marker: hundreds of indepen- 
doit trading firms (called "suit- 


goal of 4 percent. 

Industrial sectors showed 
much the same results: govern- 
ment figures indicate ratal 
growth of more than 14 per- 
cent, with light and heavy in- 
dustry expanding at about the 
same rare. 

Foreign investment has con- 
tinued to rise, with best esti- 
mates of the cumulative totals 
at about $3-7 billion. Much of 
this investment is in oil devel- 
opment. 

One highly attractive area 


but opening dates arc some- 
years off. A dozen more arc now- 
in the pipeline for Shanghai. 

In general, most hotel opera- 
tors have opted for rhe sale, if 
limited, profitability of book- 
ing group tours and ignoring 
business travelers. <Ai least one 
hotel, Beijing's Great Wall 
Sheraton, will change this pol- 
icy as of 1980.1 For the mo- 
ment, however, non-Mandarin- 
speaking business travelers arc 
advised not to visit China with- 
out thrice-confirmed bookin'?* 


for joint-venture investment is 
in hotels. Hotel space is in 
short supply across China, and 
during tourist -glut seasons .no- 
tably fall and spring), rooms are 
nearly impossible to obrair. in 
Beijing, Shanghai and Guang- 
zhou. The limited space avail- 
able tends to be taken b;. Japa- 
nese and Western tour croups: 
individual business travelers 
have a litany of horror stories of 
shortages. 

New hotels arc in fact going 
up in major cities. In Shanghai, 
for example, a Sheraton wii! 
open next year and a Hilton :n 
I9S7. At least 50 new hotels are 
under construction in Beijing, 


' . . - i 


The Imperial 
Flavor of Chestnuts 


m 


Above left, Tver Saint-Laurent surrounded by decorative 
arts students and their fashion drawings in Beijing last 
May. Above, Saint-Laurent exhibition at Fine Arts Palace. 


way, Finland and Sweden. Oth- 
er key export markets are Japan 
and Hong Kong. 

Only a step behind are New 
Zealand, Australia, Singapore, 
Macao, Argentina, Brazil and 
several Middle Eastern coun- 
tries. In recent years exports to 
Eastern Europe and the Soviet 
Union have risen and some 
trade goes on as well with Afri- 
can countries such Senegal, Lib- 


ya, Morocco, Tunisia and Alge- 
ria. 

Exports will continue to fig- 
ure importanrly as China’s 
economy grows. "We antici- 
pate a grear leap forward,” says 
Liao, "in doubling our produc- 
tion by the year 2000. And we 
will continue to increase ex- 
ports to gain foreign currency 
and help speed ihc Four Mod* 
emizarions." 


The year was 1900. The Boxer 
Rebellion had jusr collapsed, 
and the Allied army was crack- 
ing rhe two-month Siege of Pe- 
king. As the Allies entered the 
imperial city. Empress Dowa- 
ger Tze Hsi and ha son, the 
Emperor Kwang Hsu, fled west 
through the plains of Hebei to 
the old Western capital of Sian, 
1,100 kilometers (680 miles) 

away. 

Deserted by many in ha en- 
tourage, rhe empress found ha- 
self short of Food. Pausing in a 
small village, she demanded 

sustenance from the peasants 
and was given one of their sta- 
ples, chestnut cakes. Used to 
considerably more exotic fare, 
she demurred ar first, then tast- 
ed. And from char point on — 
so the story’ goes — Hebei 
chestnuts became ha favorite 
food 

With that sort of endorse- 


ment, Hebei’s chestnuts even- 
tually became China’s best- 
known nuts. The Japanese in 
particular are heavy importers 
of rhe product, but Hong Kong 
and Southeast Asia are also reg- 
ular customers. 

The chestnuts are exported 
by rhe China National Cereals, 
Oils and Foodstuffs Import and 
Export Corp. Xu Zhiying, dep- 
uty manager of the Fruit and 

Vegetables Department of the 
corporation, recognizes chat 
chestnuts are grown in many 
other parts of the world, but 
she admits to being a strong 
partisan of ha own product. 
"Ir’s a bit sweeter than foreign 
chestnuts," she says, "has its 
own specially good taste, is easi- 
er to peel and easier to store." 

Each year, Chinese chestnut 
growers produce about 25,000 
ions. Hebei’s primary growing 
area is Yensan County, about 


400 kilometers west of Beijing, 
and its products are shipped to 
Japan unda the Tianjin brand. 
Other growing areas are in 
Shantung, Hubei, Kansu, Zhe- 
jiang, Hunan and Honzn. 

Yensan, however, has fc-cer. a 
leading producer for 3,000 
years, largely because Yensan > 
climate suits the trees. Yensan 
chestnuts have i good bnghr 
color and arc very solid (con- 
taining 10.7 percent protein, ’’A 
patent far, 17.1 percent starch 
and glucose, and many essential 
vitamins.) 

The corporation exports— 
and imports — considerably 
more than chcscnuts. Among 
its offerings are a wide selection 
of fresh, dried or frozen Fruits 
and vegetables’, cereals-, edib;c 
vegetable oils; livestock, poul- 
try and meat: canned goods; 
marine products and wines and 
spirits. 





7 

3 
6 
S 
15 

9 
1 

4 
1 

8 
11 

10 
20 

» 

13 

2 

17 

I 

5 
12 


So 

H 


W> 

li 

1 

4J 

X 

3.- 

3J 

Ei 

Pr 


CO 

50 

T 


1- 

V 

2 . 

2- 

r 

Es 

Pr 

SO 

so 

4. 

7j 

7.‘ 

4- 

4. 

fc 

4. 

54 

4. 

ES 

Pr 


SO 

IK 

IB 

14 

2C 

14 
1* 

15 
14 

14 
II 

15 
ES 
Pr 
so 

4&> 


Es 

Pr 


a 


ES 

Pr 


El 

Pr 


HC 

30. 


Es 

Pr 

P< 

38, 


CC 

37. 

U 

li 

)l 

1« 

t: 


i 


P9 

OS 

Un 


12, 

BP 

1 

1 

1 

1 

I 

SU 

CD 

7 

7 

KW 

Dfc 

3 

3 

3 

3 

3 

3 

3 

3 

FF 

jri 


t 

* 

42J 

SFl 

* 


4\ 

TOt 

Tot 


LOS 

Sou 





FIVE SUBSIDIARIES OF CHINA NATIONAL 
NATIVE PRODUCE AND ANIMAL BY-PRODUCTS 
IMPORT & EXPORT CORPORATION 


With the approval of the Ministry of Foreign Economic 
Relations and Trade of the People's Republic of China, 
and the State Administration for Industry and 
Commerce,, the. Chino National Native Produce and 
Animal By-Products Import & Export Corporation has 
set up five subsidiary organizations in Beijing. 

We are willing to expand business, strengthen 
cooperation and exchange technology with the 
economic and trade circles all over the world. 


CHINA CARPET 

IMPORT & EXPORT CORPORATION 

Business scope: Importing and exporting carpets, 
rugs, wall tapestries, floor-coverings made of various 
kinds of fibres, and materials, auxiliaries, equipment, 
and technology, as well as interior decoration 
materials. 

Address: 82 Dong An Men Street, Beijing, Chino 
Telex: 22896 TUHSU CN 


CHINA TEA 

IMPORT & EXPORT CORPORATION 
Business scope: Importing and exporting tea, coffee, 

cocoa and beverages. 

Address; 82 Dong An Men Street, Beijing, China 
Telex; 228W TUHSU CN 


CHINA FLOWERS 

IMPORT & EXPORT CORPORATION 
Business scope: Importing and exporting 
ornamental plants, birds, fishes and pef animals, as 
well as horticulture; conducting technical coopera- 
tion and handling domestic sales. 

Address: 22 Banchang Lane, Jiao Dao Kou, Beijing, 
China 

Telex: 210204 CFCO CN 


Silk: 2,000 Years on the Market 


For centuries silk has been the 
prime link between the Orient 
and the Occident. Little wonder 
that the network. -of .caravan 
trails linking China co die Med- 
iterranean 2,000 years ago was 
called, quite simply, the Silk 
Road. 

Although ocher nations now 
produce their own silk, China 
still dominates the market. 
'Total world silk production.” 
says LiHaoran, rice president 
of the China Silk Cotp.. "is well 
over 50,000 tons a year, and 
China produces 60 percent of 
this.” Perhaps more significant- 
ly, China these days handles 90 
percenr of world raw-silk ex- 
ports, a good deal of which goes 
to Japan, India and the Soviet 
Union. In chc fabric area China 
expons 40 percent of world- 
marker silk fabrics, and most of 
the raw material for U.S. high- 
fashion silk comes from China. 

Despite the age of China’s 
silk industry, the China Silk 
Corp. is new on rhe scene. 
Founded in March 19S2 co, as li | 
puts it, "put an ancient industry f 
under rational comroL*’ the cor- | 
porarion’s officers are directly 
responsible co chc Scare Coun- 
ciL 

Production and marketing 
facilities now are under one 
roof and are well on rhe wav co 
being completely integrated. 
"This has improved our eco- 
nomic and export efficiency,” 

Li says. "Before, we had to 



Putting an undent indusny under rational cOnrraL 


pleased with rhe corporation’s 
progress. "Under die plan, we 

r _ rvroduenon 


.'hope to triple our P«^on 
before 


xiuc the end of the cencury- 
Buc this will be difficult. We 


muse worry about, improving 
nrity and 


quality as well as quantity 
delivery efficiency." 


write to chc State Council co get 
top-level decisions made. No 
more.” 

The corporation's business is 
mainly in silk exports. It also 
handies imports of chemical fi- 
bers, dyestuffs and dye machin- 
ery. Domestic silk sales, former- 


ly under the Ministry of 
Commerce, now are handled by 
China Silk. And cocoon pur- 
chasing, once under the All- 
China Cooperative Corp., also 
comes under the corporate um- 
brella. 

Thar’s noc all The corpora- 


tion also works with two uni- 
versities and one silk industry- 
school as well as many silk 
research institutes. "Now” says 
li, "we handle the whole pro- 
cess, from the cocoons to ready- 
made goods.” 

So far, he adds, the state is 


li points our chat China 
dominates the world in its 
quantity of silk produmon but 
fojwt in quality, finishing, style 
and promptness of delivery. 

"We will change this sta- 
tion, but this will take a long 
dmt In Japan and West Ger- 
many, higher technology pro- 
duces b e t t er quality. Wc have 
no intention of destroying the 
silk industry in Western Eu- 
rope. . . chis dish must be 
shared by all.” 

As ir now stands, China ex- 
ports <000 tons a year of raw 
silk, as well as large quantities 
of silk fabrics, to Western Eu- 
rope. Japanese silk is three 
rimes more expensive than the 
' world market price of 125,000 a 
ton (about ten times the price 
of cotton). Only China, accord- 
ing to Li, can provide top quali- 
ty at this price. 

His corporation's exports of 
ready-made goods are also 
growing, bur China’s annual 


, - v 


CHINA TIMBER 

IMPORT & EXPORT CORPORATION 

Business scope: Importing ond exporting timbers 
ond timber products 

Address: 82 Dong An Men Street, Beijing, China 
Telex: 22898 TUHSU CN 


CHINA 

INTERIOR DESIGN & DECORATION MATERIAL 
IMPORT & EXPORT CORPORATION 
Business scope: Interior designing, decoration 
works, import and export of decoration materials, 
furniture and fixtures. 

Office: 82 Dong An Men Street, Beijing, China 
Reception Room: Peace Hotel, (No; 3 Gold Fish 
Alley, Beijing) 

Telex: 210207 SURDD CN 


Ad Trade 
Specialists 


Business contact with import- 
exporr firms is smoothed by the" 
China International Advertis- 
ing Corp.. founded in 19S4. 
Headed by Ruan jiageng. presi- 
dent, and Wang Bo, vice presi- 
dent, CIAC is an independent 
economic entity, responsible for 
its own management — and its 
own profits and losses. 

Foreign business travelers 
can ask CIAC to make hotel 
reservations, arrange transpor- 
tation and make appointments 
with leading executives of the 


country s imporc-exporr corpo- 
addition. CIAC will 


rations. In 


handle market research assign- 
ments, undertake advertising 
and promotional activities for 
overseas and domestic firms, 
and handle exhibitions as well 

The firm also acts as an 
agent for China's export com- 
modity advertisements in ocher 
countries as well as handling 
overseas advertisements in 
China. 

Its major objective is to open 
up international advertising 
business. To chis end CIAC will 
design ad layouts, provide eco- 
nomic information and advise 
on sales strategy. 


China National Machinery & Equipment 
Import & Export Corporation 


CM EC deals in the export 
business of machinery and 
instruments manufactured by 
enterprises under the Ministry 
of Machine-Building Industry 
of die People's Republic of 
China. It handles the 
introduction of technology, 
co-production, joint ventures 
and the import of machinery, 
equipment, instruments, 
parts, components and raw 
materials needed by the said 
enterprises. It also undertakes 
trade practices such as 
processing with supplied 
drawings, samples and 



materials and assembling with 
supplied parts, compensation 
trade, technical service and 
labour export. 

Main Export Items: 

• Machine Tools & Took 

• Heavy-Duty Mining Machinery 

• General-Purpose Machinery 
& Machinery for Petroleum 
& Chemical Industries 

• Bearings & Essential Parts 

• Instruments & Meters 

• Electric Products 

• Complete Secs of Equipment & 
Complete Projects 

• Various Kinds of 
Specialised Equipment 


12, FU XING MEN WAI STREET, BEIJING. CHINA TEL: 362561 CABLE: EQUIMPEX BEIJING 
TELEX: 221 B6 EQUIP CN 22610 EQUIP CN 22341 CM 1C CN 



CHINA SILK CORPORATION 
82, DONG AN MEN STREET, BEIJING, CHINA 
CABLE: CHINA SILK BEIJING, CHINA 
TELEX: 22652 CSCBJ CN TEL: 558831, 551995 


CHINA SILK CORPORATION. 
ZHEJIANG BRANCH 
8 MEIHUA BEI HANGZHOU. CHINA 
CABLE: ZJSILK HANGZHOU. CHINA 
TELEX: 35016 TZCSB CN TEL: 25234 


PRINCIPAL IMPORTS &. 
EXPORTS 

White Steam Filature, Thrown Silk, 
Piiuppion Silk, Name Silk, Spun Silk 
Yarn, Silk Noil Yarn, Silk Tops, Silk 
Noils, Silk Wadding, Silk Waste, 
Waste Cocoon, Blended Yarn, Tussah 
Silk, Pure Silk Piece Goods Spun Silk 
Fabrics, Noils Poplin, T ussnh Silk 
Fabric*, Rayon Fabric.-, Synthetic 
Fabric* Blended and Mixed Fabrics, 
Pure Silk Knitted Fabrics, various 
Embroided and NorvEmbroidcd, Silk 
Garments and other Silk Ready- Made 
GixjJ.- made of rhe above mentioned 
niarcn.il*. 


MAIN BRANCHES OF FOREIGN BUSINESS: 


CHINA SILK CORPORATION. 

JIANGSU IMPORT AND EXPORT BRANCH 
50 ZHONGHUA ROAD. NANJING. CHINA 
CABLE CHISICORP NANJING. CHINA 
TELEX 3410/ SLkNK CN TEL .24580 



CHINA SILK CORPORATION, 

SHANGHAI IMPORT AND EXPORT BRANCH 
17 ZHONG SHAN ROAD E.l. SHANGHAI. 
CHINA '- . 

CABLE: CHISICORP SHANGHAI. CHINA 
TELEX: 33059 CTSSB CN TEL: 215770 


CHINA SILK CORPORATION, 

GUANGDONG BRANCH 
63 WEN MING ROAD. GUANGZHOU. CHINA 
CABLE: SILK GUANGZHOU. CHINA 
TELEX: 44071 KTTEX CN TEL: 31750 


CHINA SILK CORPORATION. 

QINGDAO IMPORT AND EXPORT BRANCH 
32 LAIYANG ROAD. QINGDAO. CHINA 
CABLE. CHINASILK QINGDAO. CHINA 
TELEX: 32114 SLKQD CN TEL: 85010 


CHINA SILK CORPORATION. 

DALIAN IMPORT AND EXPORT BRANCH 
68 XING LIN STREET. 

ZHONG SHAN DISTRICT DALIAN. CHINA 
CABLE. CHISICORP DALIAN CHINA 
TELEX - 86166 DSILK CN TEL: 27612 28609 


Chemicals for 
Self-Sufficiency art d Profit 


in an era when ., foreign trade 
and hard currency profits are 
important in China as rarely 
before, the claim of the China 
National Chemical Import and 
Export Corp. is very much 
worth listening to. A company 
spokesman says, "We have 
earned more foreign exchange 
for China than any ocher cotpo- 


ports are running 20 percent .* Jffld .begureJiiexpamng rsmaft 
ahead of last year’s numbers, .quantities oft, crude. A. decade 
Foreign exchange income so far V%cer, a million tons ti&ctiide 
is up 22 percent . -Were 'beu^l^porciril'^immiidQy'' 


This is CNCs 35 th anniver- ’ 


. ... • Steins, erf 

sary, and its activities are dis- ■ ■/:. 


ranon. 


Figures for 1984 alone are 
impressive. In char year, CNCs 
import and export totals 
readied a combined total of 
$10.4 billion, and 60 percenc (or 
$6.3 billion) came from ex- 
ports. So far this year, prelimi- 
nary figures indicate that ex- 


. . , . Variation fud,;coal 

cmctly different now than at its , v \ 

™ thcPhSippines, TiMi- 

cjbte ha* nirrroL China h«; : - h^Sinppo^I^Wtra. 

become self-sufficient in ^Wlia.Tud^Ialy, Sptf^ie. 
nems and now cm export 

nets previously imported. -i, 


A lading example is oil, ... Toiv ’oil is Chih^s aiiost 
ported 100 percenr in im Ip : important singk export. < , 

following years, China's pern*-:*.. . ; 

leum development gathered . But -it- is a^,byy^g^axff- 
speed. By 1962 the country had ' CNCs sofe mbpey^a&rl, 
reached self-sufficiency ley^sy : Among' Jts 


organic - arid Jnptgphkr chemi- 
cals, dyes, panting inks, cherni- 
,’cri reagents, synthetic rubber 
-'-prixfcicrs and ' pesticides: Cus- 
pmaaas for thestproducis are in 
.-more. chan 130 countries across 
the wodd. 

The .corporation continues 
to expand its activities abroad. 
Independent offites have been 
set up in Hong Kong and Ja- 
pan, and a. representative office 
■ is located in Singapore. There 
are branch offices irtjtbe United 
States, France^ West Germany, 


Japan, Panama, Singapore and 
is art also un- 


. Hong Kong. Plans 
dec wayfor.fnore branch offices 
:iriT&k^.J3rirain, Thailand and 
the Middle East. 


ml 


In accordance with relevant 
regulations of the State 
Council, beginning January 
1, 1985, the China Metal- 
lurgical Import and Export 
Corporation is authorised 
to handle imports of 


rj&'fcr ■ tijy ’LijJrf 

ANNOU|lC0VIENT 






35J: 


'^* 1 ?,. BLOOM 


IRON ORE 
MANGANESE 


ORE 
CHROME ORE 


PIG IRON 



» BILLET 
SLAB 


V 


. .. 

^ ■ • 

trading friends are 
mvited to develop 


:• ^cooperative business re- 
; latidiis with us. 




Address: 46 Dongsixi Dajie, 
Beijing, China 
Cadle: 2250 BEIJING .. 


Terex - 22461 Mfcc cisr ,. • 





.--L- v -• ■. • 



expoen of SI0O million add up 

mmlv jtx> or 2 If Kent . < j!. ^ 

worldw ide tool of *50 billion. 

A looming proble m Joe the 
silk industry is co«<f£caivo- 
ness Efforts M streamline pf o- 
duction have not been totally 
Successful, raw silk pwxiictton 

has ended in Western Europe 
and it is declining m Japan. 
And even in China's more de- 
veloped anas, Li sots, sericul- 
ture is declining: it is loqg on 
time and short on profit In 
Sichuan, however, production 
is increasing. Now more than a 
quarter of rational raw-silk out- 
put comes from this province. 

To some Wesrem eyes, Chi- 
na’s chief problem with its 
ready-made garment*,, can be 
Rim med up in one wood: style. 
China’s cosigners are not ycr up 
ro the level of European stylists, 
bur Western Europe-wonr lcr 
Oina ship finished goods in 
any cast 

There are pbns to send Chi- 
nese designers abroad to study 
foreign styles and unpwwc-the 
level of Chinese gooeb. Oaaesc 
fashion shows have' aEready 
been staged - in firing. Kqrig, 
Japan arid in Qiimas well, and 
there are [rfans to send a fashion 
show co the United Stares next 
year. . . 




-v C 




- W- 
■■ ■:*# 

im 

r‘*& 



Discowef 


I- . 




1 i ^idlit 




Oil' f -j^ 


1 i 




. : ’■ V&f4j 

i < f,-* “• 

i hi ' erf-- 

I ^:n - . 

: r ,; ^ -H* 




f; ; 

: the. ,_, r H-nuai 


l>- 


‘pfj^ . '• VP 

■ 1 «. . ( 









ADVERTISING SECTION 


>AY, NOVEMBER 28, 1985 

_ advertising section 







hMM 




i 
• • 


j.” 

■Sir 

*• • 

gi|n . 

& 


*••• 


the 


The names themselves ofl.up a 
wold of; sumptuous 
Kccmui^ .Panyong Congo*, 
lapsing Souchong, Lung 
Ching, Hyson, Gunpowder, 
Jasmine, Yulan, Flowery Pekoe, 


■ anrf Export Corp.: This figure 
zepresencs. about 10. percent of 
die corporation's tool 1981 ex- 
ports of tii billion and Is by 
tar its single most valuable oc- 


says, and Osina controls a full 
third of.rhe world market. Ital- 
ian maaufacturers buy much of 
their goatskin bom China, and 
China fur is growing in popu- 
larity. In many categories, Chi- 
na b now exporting finished 
articles as wrf 1 as the more 
traditional nv materials. 

- In the native produce area, 
bamboo .probably is the best- 
known angle product: fumi- 


From Otter Liver to Antibiotics 


Blended, black 
or green, 
’ China's tea 
remains the 
world's most 
• popular. 




Black Brick. And consider the 
Oolongs alone: Chi Chung, Ta 
Hung Yen and Ming Xiang— 
all semifennenxed varieties 
with strong, full flavor. 

China's -tea, ir’s fair to say, is 
the world’s most popular and 
its variety is huge. While 
Americans : prefer blended teas. 
West Germans and. Britons like 
black tea (Britain alone imports 
200 million tons of black tea a 
year) and African nations prefer 
green tea. 

All in all tea exports earn 
China $200 million a year, ac- 
cording to Bu Yingwen, assis- 
tant manager of the China Na- 
tional Native Produce and 
Animal By-products Import 


More than 10,000 products 
are. sene abroad each year, bur a 
select group -of only a dozen 
(including tea) generates 
$500,000 co $1 million apiece. 
Among the ocher big earners 
are mine chI, carbon, cashmere, 
hog bristles, sausage casings 
and angora. China controls 
more than po percent of the 
world Angara rabbi c-fur mar- 
ket. 

The corporation divides, its 
products into three categories: 
tea, animal by-products and na- 
tive produce, each with its own 
scar attractions. 

In the animal by-product sec- 
tor, carpets are the most impor- 
tant single export. Demand for 
down has risen significantly, Bu 


cure and kitchenware made of 
bamboo are seen in most ports 
of the world Spices (such as 
dill, coriander and pepper) and 
essential oils (basil, spearmint 
and patchouli) are also impor- 
tant. And most people in the 
world hove heard of Chinese 
firecrackers. 

With 64 domestic branches 
and many offices and represen- 
tatives abroad (London, Paris. 
Tokyo, Hamburg and Paramus, 
New Jersey among them), the 
3 Vyear-old corporation is active 
worldwide. Ninety percent of 
its capons go to four major 
areas— the United States, the 
European Economic Communi- 
ty, japan and Hong Kong — in 
roughly equal proportions. 


It is all a link bit like die first 
scene of "Macbeth," reading 
these catalogues: no eye of newt 
or toe of hog, to be sure, but 
the customer is offered dear 
anrlcr or sinew, dried frog, otter 
liver and fossil teeth. And then 
there’s licorice extract, lootin' 
sponges, malt, indigo, hops, 
ginseng and that old favorite, 
white fungus. All these items 
and thousands more besides are 
among the offerings of the Chi- 
na National Medicines and 
Health Products Import and 
Export Corporation. 

The firm was established 
January 1, 1984 to deal with 
imports and exports "more pro- 
fessionally" chan before, ex- 
plains Yuan Zhengping, depu- 
ty general manager of the 
corporation’s research and de- 
velopment division. 

There are two major sectors 
of the corporation: the so-called 
"crude drugs," or Chinese herb- 
al medicines, and Western med- 
ical implements and drugs rhar 
richer were developed in China 
or are made here under license. 
Exact totals of recent imports 
and exports arc not available, 
but Yuan speaks of "a few hun- 
dred million” U.S. dollars. 

Traditional Chinese medi- 
cines, relatively little known in 
the West, have a ready marker 
in Japan and Southeast Asia and 
ro a lesser extent in the United 
States and Western Europe 
(notably France and Italy). 
Yuan points out that herbal 
medicines made here are now 
bring tested by laboratories in 
the United States, West Ger- 
many, Switzerland and the So- 
viet Union. 

All Chinese medicines made 
for expor t. Yuan emphasizes, 
must pass the standards set in 
the United Stares by the Food 
and Drug Administration and 
in Britain by the BP (British 
Pharmacopeia). 

The "crude drugs" come 
from nearly all parts of China. 


* - r L ■** JP* 






f i-.t v * ■ *?.. 

. Wg*‘ r ■ - 




Z* -< - >. f : . *5* ■ 




m 

W! •: j 


A. 




- ’ 


Current Chinese medical prac- 
tice uses these traditional medi- 
cines in tandem with Western 
products. In acupuncture, for 
example, doctors use electronic 
needl es which automatically de- 
termine the correct insertion 
depth. 

In the corporation's Western 
medicine sector there are sever- 
al joint-venture arrangements. 
Many foreign firms are working 
with Chinese factories to 
smooth out production and 
quality control, and foreign 
equipment has been hroughr in. 
Among joint- vennire partners 
are OBA-Grigy of Switzerland. 
Pfizer of the United States and 
the Belgian division of the U.S. 
firm of Johnson 6c Johnson. 
Negotiations for other joint- 
venture partnerships are under 
way with Beecham's of Britain 
and other companies in Japan 
and West Germany. 

Under the larcst Five Year 
Plan (1985-90), Yuan says that 
the corporation hopes to double 
sales — and double them again 
by the year 2000. To help that 
drive, branches are to open in 
major world dries. Hamburg is 
set, and negotiations are pro- 
ceeding for more offices in New 
York, Hong Kong and Japan. 
The corporation has a total ol 
43 branches in China itself. 


Exporting the Factories Themselves 

In central Pakistan’s city of thing from design and equip- example, are turning now in and electrical motors. fron 

Guddu. this month, final work ment to the workers and eechni- Hannover, West Germany. It • Heavy mining machinery, $31< 

is accelerating on a. huge new dans needed to install -rhe plant has sold steel-rolling mill excavators and cement £ac- witl 

210-megawatt thermopower and train its new Pakistani op- equipment to Semens in that tones. the 

station, exported in its entirety gators. Almost 400 Chinese in country. And there are other • General petrochemical mi- and 

- to Pakistan by one of China’s all were involved. In' addition a connections as well: General chin cry, including pumps and aucc 

burgeoning import-export cor- Pakistani team came to China Electric and Wcstinghouse in compressors. Kor 

•-*3RE2 ■ i (i r aiming, while ^ rosall Chi-. the -United States, Alsthom At- • Electric *nd electronic in- ~ sac* 

Tins ls-ja rmrnkey operation, riese -unit will remain in PaH- laatique in France, BBC Brown struraents and meters. Sian 

says Xi Yudr^acting president scan for the first year of opera- Boveri of Switzerland and sev- • Hydraulic equipment and T 

. of the China National Machin- tionto oversee operation. era] . Japanese firms. CMEC bearings. abre 

ery and Equipment Import and The Pakistan contract is an works under the Ministry of • Agricultural machinery. of a 

Export Gxp. (CMEQ. The example of the corporation’s Machine Building Industry, • Automobiles and trucks. CM 

plant’s Pakistani owners nbed Third World-oriented policy, which has eight major catego- (CMEC does not handle ex- brar 

only nun a key, in effect, to Xi says: "Our technology is ties of products: . ports of the latter two carcgo- We 

spastic Into operation an cam- mote suitable to die Third • Machine tools and cool- ries). \ Frar 

pktioanort February. - World, and thus it is a narural ings, grinding machinery and Founded in June 1978 as Japa 

So Iar, Xl says, this is' the objective." abrasives. China’s major economic re- pea 

largest axnpknethcrmopower But CMEC also ships select- •Electrical products and forms gathered impetus, CMEC trail 
station j'lHjrfifcnl has i n sta lled ed products to Western cus- generators, hydropower equip- in 1984 exported a total of $350 asw 

abroad.- sopphedevery- xomers. Its heavy lathes, for mcnr, electrical cables and wires million, up about 10 percent Stan 


example, are turning now in 
Hannover, West Germany. It 
has sold steel-rolling mill 
equipment to Semens in that 
country. And there arc other 
connections as well: General 
Electric and Wcstinghouse in 
the -United States, Alsthom At- 
laatique in France, BBC Brown 
Boveri of Switzerland and sev- 
eral . Japanese firms. CMEC 
works under the Ministry of 
Machine Building Industry, 
which has eight major catego- 
ries of products: 

• Machine tools and cool- 
ings, grinding m a ch i n e r y and 
abrasives. 

• Electrical products and 
generators, hydropower equip- 
ment, electrical cables and wires 


and electrical motors. 

• Heavy mining machinery, 
excavators and cement fac- 
tories. 

• General petrochemical ma- 
chinery, including pumps and 
compressors. 

• Electric *nd electronic in- 
struments and meters. 

• Hydraulic equipment and 
bearings. 

• Agricultural machinery. 

• Automobiles and trucks. 
(CMEC does not handle ex- 
ports of the lacrer two catego- 
ries). - 

Founded in June 1978 as 
China’s major economic re- 
forms gathered impetus, CMEC 
in 1984 exported a total of $350 
million, up about 10 percent 


bom the 1983 tool of roughly 
$310 million. It has 36 brandies 
within China: one in each of 
the 28 provinces except Taiwan 
and Tibet, one in the Shenzhen 
autonomous zone near Hong 
Kang and others in major cities 
sach' u 3s Wuhan, Chongqing; 
Sian and Shenyang. 

There are many offices 
abroad as well Hong Kong is 
of course a major operation, and 
CMEC has a total of 22 foreign 
branches. These are located in 
West Germany, Britain, 
France, Turkey, Pakistan and 
Japan. Joint operations ate ex- 
pected soon in Chile ancf Aus- 
tralia, and there are plans afoot 
as well for offices in the United 
States and Peru. 


Discover The Flavour Which Made Hebei Chestnuts Famous 


In a country with a long tradition of de- 
dication to good foods, it is often said that 
the Chinese relish Hebei Chestnuts more 
than many other delicacies. 

Hebei Chestnuts have been well-knonni 
and widely enjoyed in China for centuries 
but the^r adoption as a favourite food of an 
empress, of China in the Qmg Dynasty 
made jtheir popularity even more wide- 
spread. 

Every 100 grammes of Hebei Chestnuts 
contains essential - vitamins -and 
minerals and these constituents: 

coarse fibre : 1-2 grammes 

fat : 1.5 grammes 

protein : 4.8 grammes 

carbohydrates : 44.0 grammes 



To find out more about this delicious and 
nutritious product contact: 

China National Cereals, Oils and Foodstuffs 
Import & Export Corporation Hebei Branch at 
8 Jichang Road, Schijiazhuang, China 
Cable: CEROILFOOD SHIJIAZHUANG 
Telex: 22547 WHBFC CN 

■ or contact 

China National Cereals, Oils & Foodstuffs 
Import & Export Corporation 
82, Dong An Men Street. Beijing, China 
Cable: CEROILFOOD Beijing 
Telex; 22281 CEROF CN or 
22111 CEROF CN 


China National Medicines & Health 
Products Import & Export Corporation 
HEad Office 

China National Medicines & Health Products Im- 
port & Export Corporation, Head Office is a specialized 
trade corporation under the Ministry of Foreign 
Economic Relations and Trade with branch offices 
Scattered in various provinces, autonomous regions and 
major' ports of China representative or operational 
agencies are also to be stationed in the leading markets 
of the ( world. 

Tte purpose of the Corporation is, according to the 
policy of opening to the outside world and focusing on 
the increase of economic efficiency, to actively develop 
import ‘and export trade in medicines, health products 


and surgical instruments, to absorb foreign investment, 
to introduce technical know-how, to practise joint 
ventures and joint operations through the channel of 
trade, thus promoting the process of modernizing 
China’s medicines, health products and surgical instru- 
ments. 

With this end in view, we warmly welcome our 
counterparts in various places of the world to enter into 
business relations and develop trade with us on the 
basis of equality and mutual benefit, and we will do our 
level best to provide facilities to our customers. 

Address; Building No. 12, Jianguomenwai Street, 
Beijing. China. 

Tel: 503344 

Telex: 210103 MEHEC CN 

Cable; MEHEC0 BEIJING 


W v*- • 






•W e -. 


IMPORT AND EXPORT ITEMS 

1. Crude Oil 

2. Oil products 

3. Chemical fertilizer 

4. Natural rubber 

5. Chemical constituents 

6. Plastics 

7. Paints 

8. Printing inks 

9. Dyes 

10. Pigments 

11. Pesticide 

12 Synthetic rubber 

13. Rubber products 

14. Chemical reagents 


OFFICES 

1 Branch corporations in 2£ ol 
the 30 Chinese provinces, 
metropolitan and autonomous 
regions. 

2. Branch corporations in the 
cities ol Chongq ing. 
Guanqihou Wuhan. Shenyang. 
Dalian and Harbu 
3 Jingshan United Trading Co., 
Jingshan. Shanghai 
Yanshan Untied Foreign Trade 
Cerp. Yanshan, Beijing 
Liaohua Untied Foreign Trade 
Corp . Luoyaag, Liaoning 
Province- 

4. China Resources Petroleum 
and Chemicals Corporation. 
Lid. Hong Kong. 

Nam Kwong Trading Co , 
Macao. 

5 Represent lives in Japan. 
Federal Republic ol Germany, 
France and Singapore. 

6. Solo and joini ventures m 
USA. Hongkong, Japan. 
Panama and Federal Republic 
of Germany. 


Chinese herbal 
IjMb medednes have 
become an 
^fT^^limportant 
y export item. 

u It.* Left, 

' * “Cultivating 

'■* *^>.« « Medicinal 
'**£&*& tjr Herbs, "painted 
F&byPaiHsu- 
mMfiao, a male 
jH commune 
member. 


SINOCHEM 

1950-1985 


IClk 


CHINA 

NATIONAL 

CHEMICALS 

IMPORT & 

EXPORT 

CORPORATION 


SERVICES 

1. Acting as agents 
2 Processing ol customers' 
materials 

3. Compensation trade 

4. Joint ventures 

5. Barter trade 

G. Co-operative enterprises 

7. Technical exchanges 

8. Inlormation on international 
trade 

9. Marketing consultation 

We will negotiate and trade 
with people in the lines of 
petroleum and chemicals all 
over the world, and * 
cordially supply them with 
trade information and 
quality service. 

HEAD OFFICE IN BEIJING 
PROVIDING INFORMATION 
& SERVICES 

China National Chemicals 
Import rad Export Corporation. 
Address Erligou. Xijiao, Beiiuig. 
People's Republic oi China 
Cable SINOCHEM. EEIIING 
Tele* 1 2 22*2 CHEMI CN 
Other Divisions: 

22552 CKEYJ CN 
(Petroleum and Pe'ioleum 
Products Divisions'' 

2G0153 CHEMI CN 
(No. i Import Business 
Division) 

22752 CHEMI CN 
(No. 2 A No 3 Impon 
Business Divuuons) 

22555 CHEMI CN 
fNo. I & No 2 Export 
Business Divisions) 

22087 CHEMI CN 
(Logistics a od Transport 
Division) 


China National Textiles Import & Export Corporation 


CfTffia National Textiles l/E Corp. (Chfnatex) is a state-owned enterprise dealing in Uie 
import and export of textiles. We do business in many different ways, such as joint 
ventures, cooperative enterprises, agency representation and supplied materials 
processing. We cordially invite business people all over the world to contact us for 
discussion. 

Chinatex Products and Services 

We import and export cotton; wool; man-made fibers: cotton yam , man-made fiber yarn and Wended 
yam; sewing thread, wooJen knitting yarn, blended knitting yam. grey cotton cloth; bleached, dyed, 
pnnied and yam-dyed cotton fabrics; poiyester/cotton fabrics, man-made fiber fabrics, blended 
fabrics, linen: worsted and woolen fabrics, plush, interlining woolens; garments tor men. women and 
children, infant's outfits, cotton knitwear, wooten knitwear, man-made fiber knitwear, blended 
knitwear, cotton and blended manufactured goods and blankets. 

Chinatex Subsidiaries and Other Organizations 

China Textiles Raw Materials l/E Corp. deals m cotton, wort and woolen lops, man-made 
fiber raw materials (t. polyester; polyester cotton, polyester lops and polyester finished yarn. 
2. Acrylic: acryfic cotton, acrylic tops, acrylic yam and acrylic fur: 3. Tolyanide: lotyanide cotton, 
tofyanide stretch yam; 4. man-made cotton}; all kinds of man-made liber labnes lor garments and 
other industries. 

China Textile Garments Accessories l/E Corp- deals in-linings (including man-made fur), 
paddings, sewing threads, embroidery threads, straps, laces, elastics. labels, zippers and buttons. 

China Export Garments Research Center promoles technical exchange and lurther deve- 
lopment of China's garment export. It offers a wide range of services including fashion destgn. trade 
information and marketing consultation. It also imports garmems lor design research and deals in the 
export and domestic trade ol fabrics and doming accessones. The center is also active in other 
businesses such as joint ventures with foreign partners and cooperative enterprises 

China Fashion Magazine Press publishes "Fashion" magazine [in Chinese) and ' China 
Fashion” magazine (in English). They provide the latest information on the fashion world, introduce 
new fashion designs and new garment products. The Press also offers consultation services, organizes 
fashion design competitions and Jashion shows. Both publications accept advertising. 


For further information, please contact: 




China National TaxtUoa l/E Corp. 

(C. tUnpnnvBi SI:«h. Berpng. Omi 
Cat w CHINATEX Bejrfig 
CN7E/ CN 


Agent In Hongkong 

Cnca Arauius feiiitti Co . Ufl 
CAi!f»3> Centre G Huce«r fio . s r 
Cau* CiRE»PHMwwuig 
lean SiSSiCifinm 


Agani in Macao 

Nam rwcng mg urnar, 
Nam Tung Banx SuiKJir.g 
Rua oa Pnw Goto* t! A Mat*. 
Caaie namkwcng Maeac 

T el*. «&&£ IJiMKO W 


FOR MORE INFORMATION ABOUT CHINA 

Just complete this coupon. 

Indicate below the subjects on which you would like to obtain more 
information {■✓) 

List of advertisers 

China Meiallurgicai import fit Export Corporation 
" China National Cereals, Oils & Foodstuffs Import & Export Corporation 
China National Chemicals Import & Export Corporation 
China National Macrunerv & Equipment import & Export Corporation 
China National Medicines &. Health Products Import fir Export Corporation 
I' China National Native Produce & Animal By-products Import & Export 
Corporation 

China National Textiles Import &. Export Corporation 
“ China Silk Corporation 

RETURN THE COUPON WITH YOUR BUSINESS CARD TO: 

international Herald Tribune. 1005 Tai Sang Commercial Building. 

24-34 Hennesvy Poad, Hong Kong 







Page 10 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


NYSE Most Actives 


CmwE 
ITT CP 
TokOCs 
DonoCp 

Bnxrrwi 

IBM 


HWl Law 

Lad 

Qh. 

330 

140 

300 

14 

S2 

— ta 
+ 0 

490 

480 

49 

+ 0 

90 

10 

9 


340 

330 

340 

+ 0 

300 

0 

30*6 

— 0 

220 

200 

TTU 

+10 

23%. 

23*6 

230 

+ 0 

440 

41 

44 

+2 

29 

m 

29 


340 

330 

340 

+ 0 

190 

15*6 

159% 

+ 0 

270 

360 

27 

+ 0 

1434 

14 

U0 

+ 0 

MO0 

139 

MOM 

+16. 


Dow Jones Averages 


Opan HWl U» Lon On 

Indus 1440*4 14083 145401 1475*9 + 18.92 

Trans 676J0 417.15 47257 68117 f 420 

Uill 14455 14527 143-H 16444— 0.14 

coma Bl« 501-93 30*1 5043 + 5JB 


NYSE Diaries 


[Dow Jones Bond Averages I 


Utniiics 

' Industrials 


Advanced 

CteP 

KZI 

Pm. 

795 

Declined 

MB 

747 

Unchanaed 

433 

<22 

Tafal Issues 

2031 

2045 

tew Hlgns 

1*8 

Ilk 

New Law 

16 

20 


NYSE index 


Previous Today 

MW Lw Close 3 PAL 
Commits ll&H 11SS0 11A74 11440 

Industrials 13327 132JD 13251 733.98 

Tronsp. 109.16 11*78 10955 11UB 

utilllles 39 84 5*32 SM 3 3482 

FiMiea 12443 lxun 13449 12443 


Odd-Lot Trading In n.y. 


Bo* Sate •Skin 

Now- 24 754145 508277 2251 

Now. 25 177277 90275 I W 

NOV. 22 1B2439 094*5 1919 

NO*. 21 20S*5O 5SS.957 

Nov. 20 _ 140017 481209 2234 

*lnciuead In tPe sales figures 


Wednesdays* 

MSE 

Closing 


Val.nt 1 pa* 1282SOOH 

PtW.3PJN.V0l IOUIUOO 

Pi** cmofldated dose 344211420 


Tables include the nationwide prices 
up to H«e dosing oa Wall Street and 
do not reflect lota trades elsewhere. 

I’ia The Associated Press 


AMEX Diaries 


NASDAQ Index 


AMEX Most Actives 


Advanced 
Declined 
Undungod 
Total issues 

NOW H tote 

New Lows 


Close tier. 

& 38 

215 M 

9 5 


Composite 

Industrials 

Finance 


Standard & Poor's Index 


Pravlm Todar 
DM Low CMH 1 PAL 
industrials 22412 ttzn 22X51 2X54 

Troop. 179.13 17X02 17X0 MOJO 

Utilities KIM 87.36 5743 049 

Finance 2407 23.94 24J03 2425 

Com past M 201.14 2D0.11 20047 25X37 


3W9 312.15 SOUS 24541 
i\Z5i 31 *49 30647 261.35 
41043 — 40X09 20X01 

ma — 37X11 37X17 

791 IB — 29204 225.17 

329.94 — 32071 22X74 

27X75 — 271 ID 23X76 


AMEX Sales 


AExnwf 

DomaP 

PotLw 

WansB 

ImoGP 

WkM 

T«KAlr 

KevPti 

Hfflcfin 

Uitmte 

WDtgHI 

OinutH 

TIE 

CflSfWt 

QltMAS 


43U *10 

20 afi 

» 24k 

IM 185* 
A 3 Vs 
4% 40 

1446 I4h 

1014 94. 

24 1M 
200 T9M 
944 

34% 14k 

50 Sik 
rat mo 
13% 10 


« 

as -0 

^ :s 

40 

140 + «6 

MM + *6 
25W+W 

.« +5 

ft. — »4 
124b — 0 
110 


3 PM. volume 
Prav.3 PAX vah/me 
P rev. cons, vol u me 


AMEX Stock Index 1 

ntrta Todonr 

Htgn Law Chan 3 PM. 

24049 24004 24025 24102 


gWantti 
HWi Law Slack 


Six Oast 

Dtv. nd. PE uu KWi Lew QuotOi'Br 


16 AAR J 6 U 
19 101% ASS 

M 914 AMCA 

*0 320 AMR 

g0 101% AMR* Lit 90 
® 19 ANRof 112 102 
jl»4 71% APL 
<3% 9 ARX 
*0 3216 ASA 2000 5* 

2. 10+» AVX 22 24 


26 22 16 833 24 23 24 +1 

15 ISO 191% 1836 191% + la 

I 110 1114 111k 
7 9829 400 39H 401% + 1b 

LW 90 24 2«1b 24 MU + 1% 

L12 102 1 2036 »0 2036 + 0 

S 28 10VS 1016 1014 


»% AZP _ 272 103 7 473 240 240 260 
S* M AW Lob 1.40 22 17 1235 43 421% 421b 


gjb 191b ACCOWd 20 11 IB 97 

?*£ W AcnwC .40 32 107 

jyi 7 AoneE 23b 44 11 5 70 

" «r AdaEx 1 0291014 IBS IPk 

» 13J4 AdmMI A 11 | 28 191b 

iSl «b AdvSvi J» 3J 22 84 154. 

“J* fflb AMO 40 5985 271b 

HHbAdnOen 144 12 

Wb 141% Adobe! A 95 

Sj ISlA AdobPfB 230 

<716 Mb Adveat ,12o IO 14 377 

§5 Wl AetnU 204 50 17 2952 

OT* 530 AetLpf 5 l19o 92 1 


™ 1416 AdobufA 95 16Vr I 1 A 6 1*0 

EH* 150 AdobPfB 230 17*4 171% 17V. + >4 

™ 494 Adveat ,12a IO 14 377 111% IV* 111* + 1 * 

£3*4 Mb AetnU 204 50 17 2952 S2Va S1V% 5216 + Va 

2S S* AetLpf 5L19e 92 1 0%. 5516 5516 + 1% 

406% 221 % Attrnna 120 30 7 1721 400 391% 400 + 16 

*}* 21* Alleen 48 21b 2b. 71b + 0 

60*6 441% AlrPrd l/« 24 13 1428 470 40 421b +21% 

24+6 171* AlrbFrt 20 20 12 34 211* 21 21V% — V, 

ZJ% 11% AlMoak .We 52 MIS 19b 116 IV, 

ZWk AlaPpt 243e 92 150 2BVi 270 2»* +11% 

TOb 27V. AlaP pfA 192 M2 18 23 27H 271%— 0 

•0 416 AlaP dot 07 10.9 23 8 8 B 

W36 4«% AlaPpt 900 107 3«fc 84 84 84 — (h 

*0416 9Mb AlaP pf 1100 107 IOzHC« 10216 1020 

W*% 70 AkiPpf 9«4 KL7 1210x01% 01% 01*— 1 

7416 40 AlaP of 828 112 200* 74V. 74V. 740 — >4 

2Hb 1316 AWAIT .16 0 8 1099 194% 1916 19V% 

3016 12Vj AlbrVo s 28 12 22 217 X 29W 291%— 0 

3316 2416 AIMsnt .74 24 13 552 3116 31 >6 3116— V% 

3U6 2216 Alcan JO 1051 2019 2602*0260 + 0 
w* AlcoSW 124 3.4 16 235 34*6 341% 341b + 1% 


nn> 21 AIomAIk IDO XT 298 JI0 311% 3I«b + V. 
X 201 % AJexdr 25 IS2 2816 0 28V. — 1 % 

J9J* 7216 AJIvCp I24t 10 22 54 HS*% 8416 8 SH +116 

27V% 241% AloCopf 206 11.1 3 25*4 25+. 2596 

281% 2DV6 Alglnt L40 4J 847 23H 211% 22V.— l»b 

3016 169b A loin pf 2.19 12 J 21 18W 179b 17*6—16 

91 B516 Abxl Die 11 75 12J 12 9016 8916 90—16 

3«*% 01 % Alls Pm 270 8 J 10 750 32*% 321% 3»h + 1 % 

H 1416 AllsnC AOb IS 13 11 D 23*% 231% 231% + «% 

211% 1594 AlldPd B 19 189b *814 *8*4 — 16 


01% 42 AldSunn ISO 19 10 7*59 4* 4496 45*4 + % 


TO\% *12 AW5ptAA*2 XI 
43 584. AldSpfC 4.74 110 

111 1031% AJdSpfniOO 113 


1BM% 1001% Aids ptF 75 100*4 *00*% 100*6 

451% 4776 AIMS It 230 U 9 1944 46%. 45H M*6 +|v» 


01% 4776 AIMSIr 230 3J 
91% 316 AllbCh 

34*6 24 AllsCpf 

305% 231% ALLTL 1.94 4.9 

3996 29N. Alcoa 130 13 

19 101% Amax .id 

341% 271% Amupf 3A0 107 


186 S7V. 459* 47 
49 61 401% 61 

23 104 7051% 10 

75 100*4 100*% 1001% 


307 3M 316 3V. — 1% 

0 2716 26*. 27 — 16 
1.96 6.9 9 152 28*4 0V% 281* + Vi 

170 13 34 1872 34?6 351% 3416 + V, 

-101 650 110 1114 11*4 + 1* 

X00 107 4 0 27V% 0 + Vi ; 


1401% 9S%% AHm N 150 27 

216 11% AmAar 

271% 161% ABokr 

0 53V. ABrand 190 4 A 

301 * 25V ABrdC* 275 9.1 

7W% 54*6 ABrdpf 2*7 4J 


40 1.10 17 0 2576 300 29*6 2W6 — *% 


1 130 130 10 +2 

1000 11% 1*% 1V%— V» 

69 27 264% 27 +1% 

70 6114 59*6 61 +1 

134 301% 01% 30<* 

2 I1V% 401% 411% +116 


54*% ABdcSl 1*0 1J 20 4» 119th lino nn. 


381% 20 '6 ABIdM 
311* 201% ABlJSPr 


37 14 34 231% 231% 01% — 1% 

21 15 108 3016 30*4 3016 


44*6 481% AmCon 270 4J 13 1552 A4tk MU 64U -11* 

0 2214 ACanpf 2J0 1L5 56 25 24 24U— H* 

571% 42 ACanpf 3U0 57 19 57V% 57 57*4 

2216 18 ACapBd 270 100 0 2214 2114 0 +14 

3014 2516 ACapCv 251f 9.2 14 271fe Z7U 2716—1% 

11 4« ACenfC 13 514 4*4 5 + 1% 

Mb 441* AC van 1J0 12 17 U63 59 574b 5814 +1 

2916 1916 ADT .92 3* 24 697 Z7*h 27 27H + U 

240 190 AElPw 234 1H0 9 3320 2244 22V. 220— 0 

4916 340 Am Exp 1J4 2 JB 1627945 4914 480 49 +0 

290 1416 AFaml* *8 1* 18 440 2914 291% 290 

3416 3414 AGnCa IA0 30 9 1427 33* 320 3316 + U 

16 8 AGfli wt 439 131% 13 13*6 + U 

710 4814 ACnpfD 2*4 19 210 47V, 441% STm + 0 

37 29 AHorlt 1J0 3J 11 1 360 3*0 360— 0 

130 7V% AHolsl 34 9 80 80— 0 

660 490 AHame 2JQ U 12 3963 61U SMb 61 +10 

9916 7416 Amrtch 4*0 67 9 540 980 98 980 + 0 

1010 42 AlnCrp *4 * 22 795 100U 99U 990 + 1% 

200 16 AMI 
41* 2U AmAAat 
29 130 APresds JO 28 7 543 IIP* 170 170 + 0 

130 5 ASLFlq 


18*% 120 ASLF1 pf 119 117 

150 110 AStllp SO 47 9 301 120 110 110 + 0 

350 260 AmStd 1*0 AS \7 2*15 15*% 340 350 + 0 

480 350 AmSIor *4 IS 12 333 450 MU 450 + U 

78 461% AStrpfA 4J8 5S 35 74 751% 7* + 0 

59U 51 AStrpfB i£0 115 27 59 580 59 + 0 

240 II AT&T 170 5.1 17160Q 230 23U 23W + 0 


i*0 47 9 560 980 91 9B0 + 0 

44 A 22 795 100U 99V. 990 + 0 

72 40 9 5937 180 170 180— U 
1303 20 20 20 4 0 

JO 28 7 543 IBM 170 170 + 0 

122 80 B0 10 

13 I7U 170 170 
SO 6J 9 301 120 110 110 + 0 


NYSE Surges in Active Trading 


DMonlh 
High Lew Sleek 


SL CW 

WhHWiW 0eei.q»W 


12 Month 
HWl Lov Stack 


ON. vm. PE ICOlHte Lp» QwLOlW 


12 Mend) 

Men Lew Stock 


ptv. Via. PE MU HWl LOW 


235 43 420 420 + 0 

97 240 ZH% 240 + 0 
107 120 110 12 +0 

5 70 70 716 

185 180 180 IBM 
28 190 190 190—0 
84 150 15 15U + 0 

985 270 26%. 270 + 0 
164 12 110 110— 0 


United Press International 

NEW YORK — Prices on the New York 
Stock Exchange were up sharply late Wednes- 
day in active trading as investors accumulated 
positions before the Thanksgiving Day holiday. 

The Dow Jones industrial average was up 

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. 

I6.97to 1,473.74 about an hour before the close, 
above the all-time closing high of 1 .46433 set 
Friday. 

Advances led declines by a 2-to-l ratio. Vol- 
ume was 1203 million shares, up from 104.8 
million traded in the same period Tuesday. 

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

“It's Thanksgiving and the wishbone is 
breaking in favor of the market.*' said Eugene 
Peroni Jr. of Bateman Eichler, Hill Richards. 

“The market continues to show extraordinary 
momentum and has been able to curb its own 
excesses, a factor that keeps it from becoming 
vulnerable to a sudden, sharp pul] back," Mr. 
Peroni said. But he noted that to solidify its 
advance, the market will want the reality, not 
just the anticipation, of a discount-rate cut and 
improved corporate earnings. 

The market has undergone a psychological 
change of watershed proportions,*' said Monte 
Gordon of Dreyfus Corp. “As investors have 
become convinced that the Federal Reserve has 
committed itself to a stimulative monetary po- 
licy, clouds parted and attitudes turned posi- 
tive.” 


17 Moral) 

HWl Low Stock 


Six Cine 

1003 HW> Low Qua!. Cli'ae 


410 33 
420 34 
300 17*6 
130 180 
280 110 
720 43 
18 60 
890 680 
470 260 
260 120 
290 190 
280 180 
14 1 

7D'6 500 
370 270 
21 110 
190 100 
380 220 
44H 320 
40 10 

25 160 

270 190 
480 330 
1446 90 
270 17 
390 230 
78 52 

190 130 
160 *00 
150 100 
120 90 
2 0 
190 150 


AT&T pi 3*4 BS 
AT&T pi 3J4 8.9 
AlWotrs 1.00 13 9 
A Wat pf U5 102 
AmHotl 2-20 202 4 
ATroc 5*4 7.9 
A Trie 

ATr un 5*4 4* 
Arraron 1*0 3J 9 
AmosDs .10 A 23 
AmetCk IDO 40 16 
Amfoc 
vlAmfsc 

Amoco 3300 4.9 9 
AMP 71 2.1 29 
Amoco JO XI 17 

Amrops 11 

ArnSm 1J6 A1 » 
AmitM 1*0 35 17 
Aiwcmp 

Antoa 25 

Anchor 1*8 X9 

A nC lov 1J2 2* 32 
AndrGr 34 1* 16 
Angelic *0 22 IS 
Anlwuss SO 22 13 
Anhnipl 3*0 4.9 
Anlklr 38 1* 20 
Anthem 0* J 27 
Anthny *40 33 8 
Apadie 38 23 12 
ApdiPwt 
ApchP urCLIO 113 


662 400 
1757 a 
63 2B0 
7Wte 120 
579 12 
12 710 
71 170 

8 89 
31 480 

778 250 
452 25 
54 230 
155 10 

1149 680 
1*10 330 
174 140 

27 180 
110 380 
476 46 
449 30 
370 25 

39 250 
BO 480 

28 140 
152 270 

5889 340 
282 740 
891 190 

9 140 
54 14 

737 120 
97 10 

392 19 


400 

410— 0 
28*6 + 0 
1216 

100—10 
710— 0 
170 + 0 
880 
480 +1 
250—0 
25 +0 

230 + 0 
10 

*70— 0 
330 + 0 
140 + 
180— 0 
350 + ■* 
450— 0 
3-0 
340— 0 
25 

470 + 0 
140 + 0 
270 + 0 
3*0 + 0 
74 +0 

190 + 0 
M0— 0 
130— 0 
120 + 0 
10 

180— 0 


Mr. Gordon said the market is now extending 
its rally. Even though the move up could run 
into snags if corporate a=mimp do not improve 
or if a discount-rate cut does not materialize, 
“you don't stand in from of a speeding express 
train.” Mr. Gordon said. “People sense that 
they’re being left behind and they are getting on 
board.” 

On the trading floor. Texaco was the most 
active NYSE- listed issue, falling on volume of 
more than seven million shares. Standard & 
Poor's, the ratings agency, put Texaco on cre- 
ditwatdi with negative implications. 

American Express was up modestly. 

Hospital Corp. of America was unchanged 
and Baxter TravenOl was up, both in active 
trading. 

The pharmaceutical sector was very strong. 
Merck St Co. was up. The company said Tues- 
day that its hoard bad proposed a 2-for-l stock 
split and increased its quarterly dividend to 90 
cents from 80 cents. 

Among other pharmaceuticals, Syntex was 
gaining again. It jumped 3!6 Tuesday after re- 
porting an increase in quarterly earnings early 
in the week. 

Warner Lambert was ahead. It rose 2 Tues- 
day after it authorized a buyback of an addi- 
tional eight million shares and said it wonld 
take a $550- mil lion charge in the fourth quarter 
after divesting its three remaining health tech- 
nologies businesses. 

Smi thKlin e Beckman was up. It said it would 
take a first-quarter charge of $30 million. Eli 
Lilly and Upjohn were up sharply. 

Among blue chips. AT&T and General Mo- 
tors were higher. 


UMonlli 
HWl Law Stott 

340 300 ApPi 
I 31*% 28 Ax. Pi 
390 150 ApiC 
150 80 AppI 

240 170 Arch 
, J10 2*0 ArlP 
I 280 140 Arkf 
: 2496 16 Arfcli 
0 M Arin 
150 110 Arm 
110 *0 Arm 
220 150 Arm 
240 110 Amt 
430 300 Amt 
180 II'A A row 
J0', t* Artn 
280 17 Arvli 
270 150 Asor 
37 230 Ash 1 1 

460 380 Ash 1 1 
4416 35 AshH 
400 240 Aide 
231% 140 Attlk 
290 230 A 1C* 
470 42 AIIR. 
MOW 1000 ADR. 
170 100 Atlas 
290 110 AUOC 
57 350 Auto 1 

5*6 40 Aval. 

37 170 AVE 

390 28'* Aver 
38'A 27 Avne 


5K. Oom 

IQOl High Lp» QugtCh'qg 

3 330 33U> 33*6 

3 300 300 300 

350 310 310 310 

47 140 140 140 

'Sen 240 24*4 24*6 

6 30 W6 + 16 

324 280 280 2814 + 0 

8«j 180 180 180—0* 
449 0 — 

1 130 130 130 — 0 

115 90 10 90 + 0 

8 180 180 180 + 0 

166 140 14 14 

296 4 20 a 420 + 0 
71 140 14 14—0 

23 22 210 210— 0 

45 270 270 270— 0 

252 180 180 180— U 

183 370 360 37W + 0 

5 450 45 45 + 0 

70 470 420 420 + 0 

810 390 380 390 + 0 

1 280 200 200 

7S 28%. 280 730— 0 

799 470 6*0 670 + 0 

S 142 16001600 + H 

4 110 110 1)0— 0 

454 24 230 24 +0 

41 B 570 560 570 +* 

57 40 40 40 

16 360 340 360 
440k 36 340 34 +10 

073 34 330 3346 + 0 


BMC .121 220 

Bclmce U U1* tn 
Bkiinll HUM 1078 
BaWor A U IS 18 

vIBckJU 237 

vIBIrfU pf 7 

Bairs 71 24 14 87 

Bally Ml JO IJ 1006 

Baity Pk 15 417 

BIIGE9 1J0 7J 9 1292 

BncOns JO 3J 11 3835 

BanTex _ 129 

Bandog 1J0 22 12 17 

BkBos 2*0 4J 5 1652 

BkBpfB .990 1.9 85 

BfcBptC *70 J 90 

BtNE(Jp«.19e 94 140 

BANY 2J8 5.1 7 2876 

Bank Vo 1.12 U 9 141 

BfikAm JO 5* 3285 

BkAm pi 4*7e12J 58 

BkAm pf 7J5el2J 7 

BkAmpf 2J8 174 

BkARtv 2*0 9J 12 91 

BankTr JJl il 7 1793 

BkTrpf Ul W 2 

BkTrpf 472 92 3 

Banner JOe 2 13 474 

Bert J6 1* IS 511 

BemCp 1J0 3J 19 S3 

Barnet S 1*4 2* 11 306 

Barv * Hr *0 3.1 15 144 

BA5IX .131 1J 17 175 

Bausch JB 2* 14 319 

BaxfTr J7 25 4137805 

BcxtTwl 11D1 

BxtT PfA 2531 

BxfT ofB 96K 


270 

200 BOV Fin 

JO 

J 


392 



2*0 




220 





445 

38+ 

310 Beorfng 

IJO 

2* 

15 

9 

47 

2B BeatCo 

1 JB 

19 

9 

3115 

840 

570 Beat of 

138 

417 


12 

160 

120 Becnr 

M 

19118 

231 

610 

39. BednD 

120 

20 

15 

2202 

70 

K vlBeker 




184 

II 

10 vIBekrpf *91 



26 



*0 



■4 

370 

220 SelHwrl 

*2 

1.9 

11 

229 


37 22 BetHwpl *7 lil 5 

990 760 BellAtl LSD 47 f 1545 

X 2SM BCE B 228 441 

780 190 Belllnd J2 U 29 2 

440 310 BellSau 2J0 6J 9 2513 

57 4]V% BetoAH JO 1* 24 121 

430 240 Bern is 1.00 14 13 32 

470 310 BenfCc 100 44 11 1955s 450 
190 14*6 Beneatn 1J0 4J 221 190 

40 30 Serial B .071 310 40 

9 30 Be nee V 4 1 02 71% 

15H 11 Best Pd .74 1* 41 1375 150 

711% 12*% BethSII J01 3778 160 

49*% 360 BelflSI PI5J0 12* 86 400 

240 180 BethSI pflSO 120 4S 2<Pk 

400 29 Beverly 32 .9 II 1472 360 

260 190 BlgThr JO XI 91 723 250 

240 130 Blocftn 23 288 19 

760 170 BtockO 44 12 17 444 20*4 

360 250 BlckHP 1.92 54 10 20 37% 

270 140 BloJrJn JBI 1298 230 

35 200 BQlHR* 1J4 4J 7 499 330 

SD’.% 340 Boeing % 1JJB 2J 14 3711 480 

SI 37 BatoeC l» 42 24 1193 440 

41 50*% BofcseC pfSOO 8J 42 99 

320 180 BattBer .10 J 31 151 33 

490 290 Bardens 1 J 2 12 13 1304 490 

240 190 Borg Wo .94 4J 12 3097 23 

100 40 Bormns 13 1 90 

440 33 BasEd 114 U I 58 42 
BosE pf &08 10J 243QZ 

BasEPT 1.17 10* 23 

BasEpr 1*4 10 * 57 

- J2 12 ° **■ 

1*0 SJ 
1J8 29 
2J1e X9 
*!• 20 


85 69 

110 90 

140 110 


60 + 0 
740 

140— 0 
20*4 + 0 
10 
3*6 
290 

150— U 
130 

230— 0 
23—0 
2 

550 

550 + 0 
520+04 
1000 + 0 
550 + W 
440 

290 + 0 
1416— 0 
38 —0 
590 
140 
250 260 
680 480 + 0 
260 240 
460 440 
16*6 140—0 
390 400 +10 
7T0 2756 
40 4U0— 0 

190 190 + 0 
80 90 + 0 
300 3CV% + 0 
14 140 + 0 

14 140 + 0 

500 500 
510 530 42 
254% 240 + 0 
330 330— 0 
190 190— 0 
370 38 +0 

46 440 + 0 

as 55—0 

15 150 + 0 
400 610 +1 

10 10 + 0 


320 + 0 
980— 0 
300 

240— 0 
440 + 0 
480— 0 
410— 0 
440 450 + 0 
U0 190+10 
40 40—0 
60 70 + 0 
140 150 + 0 
150 140 + H 
390 480 + 0 
200 2B0 + 0 
350 360 + 0 
25V* 230 
IBM 180 + 0 
190 28 
350 350 
22 230 +10 

33 330- 0 

470 410+1 
44 440 + 6b 

580 580 + 0 
330 3214 + 0 
48 48 —0 

220 220 +1 
90 90 - 0 
410 + 0 
83 

11 +0 

130— 0 


32 240 Burilnd VM 5* 70 3059 310 30*% W4- 0 

48 450 BrlNttl 1*0 20 9 1221 690 S70 490 +10 

70 64k BrtNOpf *5 7J 5707070 + 0 

5 3 47*6 BrIN pf 5.10.KU 150 *90 490 490 

180 90 Burndv *4 40 40 148 110 11 110 + 0 

48 S3 Burrell 2*0 4* 12 2501 590 580 580— 0 

700 11 Buttrln 3 U 11 ixa MVs 140 \«0 

50 0 Buttes 234 10 1*4 10 

1294 10 Bute Of 1054 44 20 2 20 + 0 


380 130 Church S M 2J 17 8375 20 
110 5V% Chvron .10 1* a 104 70 

270 21 aicora 222 &9 W 59 25 
520 -40 GnBeli 1120 *2 8 3 Mk 5M4 
1944 130 ClnSE 114 11J 7 998 190 

35 270 ClnGpf 400 1U 100*34 

390 29 OnGo 4 4JS 11S «2Bs 5 

74 60 ClnGpf 9 30 11 J BID* 79 

43 *81% ClnGpf “7*4 11* 17Kz 64 


2*0 43 77 
175 U 
4.10 7J 


230 42 17 
7 JO 53 ID 
2266110 
J4 13 13 
1.16 41 10 
700 43 
100 14 M 

* is 286 

O IJ 't 
475 U 
-25b 12 
*0 IJ 15 
.17 O 44 


40 

m 0 

40 10 

M0 43 
50 40*% 

540 510 
560 510 

9,44 )Tl% 


X 11 

20 20 

27 30 10 

108 IS 10 
40 14 12 
160 90 7 
2*7 1CL3 
110 42 16 
.10 IJ 13 
*0 14 9 
132 XJ 17 
*0 U 13 
120 80 7 

2J0 93 
.90 U1 
Si 13 
JB 18 II 
400 3J 11 
4J0 10.1 
J6e S 23 
138 53 10 
25 10 11 
202 77 ? 
196 10* 4 

1*4 as u 
208 7* 7 
f 418 >11 
1*0 1&7I09 
190 .9* 6 

JO 43 9 
200 1X5 1 

JO 23 9 
201 28 

J2 23 

120 4* 

4*0 &S 
*0 4* IS 


180 53 5 
525 10* 
4JSe1IJ 
8036149 
77 in in 


24 

7290 

14 
13 

244 
94 
6 

144 3 
1010 640 

15 490 
11 550 

205 530 


180 190 + 0 
108 113+6 + 0 

40 40 
*U% 420 +10 
3266 33 +0 

54 540 + 0 

10 10 + 0 
410 43 +10 

110 110— 0 
180 190 +10 
S10 52 +0 

250 240— 0 
200 200 + 0 
140 140 + U. , 
270 290 + 0 
148 146 
2816 39 — 0 
8 816— Vt 

34 34 +16 

15V* 196—0 
240 25 +0 

530 5416 + 0 
200 280— 0 
330 330— 0 
140 140 + 0 

23 23 —1 
20 20 

49 510+20 

120 120 
2016 200 + 0 
21107350 440 
2SU* 2S0 
90 90— 0 
31 310 + 0 

27 270 + 0 

200 280—0 

24 24 

330 330 + 0 

• I 

240 240— 0 
280 280 
450 460 + 0 
140 15 +0 

120 13 +0 

260 2634— 0 
15 15 

390 390 + 0 
2816 28*6 + 0 
13SV6 13444 + 0 
440 440 + 0 
>0 80 
440 440 
240 340— 0 
340 240— 0 
770 Z70— 0 
1916 190 
270 270 + 0 
340 340 
13 130 + 0 

200 2816 + 0 
40 40 + 0 
120 180 + 0 
150 16 — 0 
250 26 +0 

30 30 —0 

230 240 + 0 
24 240 + 0 

530 530 + 0 
80 >0 

* fc* 
20 20 

430 M +0 
490 490 
550 550 + 0 
520 520— 0 

It til. 


Bun n 
17B0Z M 
120x78 
220x 77+4 
an 190 


79 400 OnG pf 9j2 12* 220z 770 

340 150 OnMQ J2 40 311 190 

340 190 a ret KB JO XS 11 1341 2^6 

31 180 ClrCIty .10 * 13 . 444 240 

300 IS Oraa 13 04 340 

Clllcrp 234 4| 6 4121 47 

CilepofAXSeg . .8 

Clahir .71 M 5 143 8<4i 

ClafrSB .18 S 7S 24« 11 

OaritE 1.10 44 1511 2»4 

OdyHs 13 90 Mk 

OvCU 1O0 SJ 11 B 174 

CfwCipf 200 lai 122 20 

CtovEI 2*4 113 7 2336 230 


1 

2t : 

13 

33 : 

4 

220 ; 

in 

330 : 

517 

570 ! 

47S 

420 4 

1150 

330 2 

7 

110 1 

8 

190 1 

430 

140 1 


Q v£t pi 7*0 114 300r 420 

CIvElPt 7J4 11 J 131002 *g% 
CtovaA JBt 177 80 

aypfepf 1.711 34 «0 

CM* of oil 17 VA 

Oarnx 104 2J 14 S3 m 

CtubMd JOe 3 78 730 

ChrattP 1O0 7J 20 2245 3W4 

Chietpf 1O0 40 8 240 

Coadvn *0 3J 15 704 120 

Coast! » *0 VI 13 711 3S0 

Csttpf 1J3 3J 1 SB 

Cocoa 236 3J 17 5041 SAk 

Catoco 1245 110 

Cotomn IJO 4J 19 M 780 

CatoPol L34 45 48 3486 301% 

Cal Aik s JO 30 9 249 2636 

Coiftfe .13 J 147 IS 

Col Pen 1*0 41 10 S134 34 

Coltlnd 230 33 9 W96 630 

ColGas 3.18 A7 804 360 

CSOpf 2*2 HO J 22 

Comfiln XI 6 43 8 339 500 

CirtbEn 100 X5 597 280 

Comdto 76 O It 711 20 

Com Mil 3t> 1.9 13 U IBM 

Csvndre 8 2202 100 

OnwiE 300 TOO 614937 29 

CwEof U! 41 1 39 

CwEpf 1J0 KL8 52 170 

C-Epf 200 11J0 1 180 

CwrEPf 1X75 1L9 20000x1040 


C«E pf TOO no 1 18 Hi 

CwrEPf 1X75 IL9 20000x1040 

CwrEpfB 8*0 9* 3008x874, 

Cwfi pf 207 9* 3 240 

CwEuf 287 VU 2 260 

CwEd UI1I.1 9Qte 74 

Com £5 2-52 80 7 79 280 

Comsat IJO 3J 18 445 3)0 

CPsyC J28 IO T8 2G3 27V4 

Compar *0 2J 9 B 260 

Compsc 13 6«1 290 

Cptwt 1817 110 

ConAgr 1 M 24 15 409 410 

ConoE 1*0 &* n 14 180 

CraiNG 2*3 £5 IQ 4 310 

Conroe 40 17 IB 8S 140 140 

Coir. Ed 140 6* 8 1471 380 3416 

CanEpI 4*5 9J 130X470 440 

ConEot SJW 10J 4 *90 480 

CmFrt uo 30 12 1)3 37 340 

CnsNG X3Z £1 10 342 450 450 

CmsPw 2894 80 70 

CnP pfB 4J0 1X2 13ta 34 330 


CnPpfD 7*5 113 
CnRpfE 7J2 111 
CnPpfG 736 113 
CflPprV 4*0 145 
CnPprU 3*0 14* 
CnPprT 178 118 
CnPpfH 7*8 118 
CnPprR 400 145 
CnPprP 190 14* 
CaPprN IBS 142 
CnPprMXSO M.1 
2J3 115 


3390zS4 550 

UJWtt » 570 

7950z 59 570 

119 30A 30 
30 250 25 
73 270 260 
500x 56 550 

25 270 Z70 
12 270 2716 

1 27 27 

2 170 170 
M 140 140 


190 + 0 
70— 0 
260 

500— '% 
190 + 0 
34—0 

38 —10 

79 +4 

M +20 
78 +20 

77 +50 

18 —10 
200— 0 
240 + 0 
240— 0 
460 + 0 
970— 0 

1 K + 0 

250—0 
140 + 0 
170— 0 
190— 0 
230— 0 
420— 0 
650 +10 
80 + 0 
100 

90 + 0 
470 +10 
310— 0 
370+0 

240 

130 

350 + 0 
SB +2*% 
840 +10 
18V. — 0 
280—0 
300 
260 

140— ta 
34 

630 + 0 
340— 0 
22 +0 
500 + 0 
2S0+ Vt 
23 +0 

180— 0 
100— U 

39 

29—0 
170 + lb 
180— 0 
106%. +7 
870— 0 
240 
260 
76 +1 

280 + 0 
310 + 0 
250 + 0 
260 

280— 0 
11 +0 
41*6 + 0 
180 + 0 
310— 0 
140 
360 

470 + 0 
490 + 0 
340 + 0 
450 +0 
8 

34 +0 

54+16 
97 +2 

580— 0 
3016 + 0 
25—0 
270 + 0 
550— 0 
270 

2716 + 0 
27 

170 + 0 


m 


4JB2 

14J 


19 

270 

2*3 

117 


30 

170 

2*0 

5* 

*0 

VM 

460 



14 

407 

80 




1247 

30 




770 

m 

“S 



11 

167 

140 

IJO 

73 

t 

842 

2*0 

JDI 



1394 

180 


L52 3J 17 437 

-50 U 209 
J 11 t TO 


18 0 ,8 ft 

r-as 
18 180 









/ 


i 






V- ,, ^ 








... - 


'2\ \ 


*r «:*< . 




m k **'%**%■ 




Can you recognise what malms a 
company successful just by looking 
at its parking lot? 



What makes a company successful? 

It’s always been the subject of intense debate. 
And today more than ever. 

Many of you, in the light of your own experience, 
already know the answer. 

Whilst others, in their “pursuit of excellence” 
search through the written word for the most 
promising signposts — and volumes have been 
written on the topic. 

We wouldn't presume to preach to you as an ex- 
perienced decision-maker who already knows 
what's right and what’s best. 


However, under the motto “time is money”, we 
would like to sum up the whole question in 
one simple statement: success in business - 
today as well - is based on never-changing 
groundrules. 


* *Si 

•j isafe ’l 


It is the result of the constant endeavour to be< 
better than others, whether it applies to a pro- ' . -o; 
duct or a service. - ^ 

It is the result of greater, more positive dedica- -y ?».t 
tion and belief in the primacy of enterprise. -- Vstfi 
Plus the willingness to make greater effort and- 


ySSj!. 




i 













INTERN ACTION A L HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


Page II 


2 & 


m 


%-* 
— ft 
aj^ 

»5+S 

9ft — ft 

jS*** 

pi* 

SfrttS 

8=5 

52V. 

CTVs— 

2 Hi— l«* 
Mi-. V* 
W* + ft 
<*$- 14 
Si?— » 
sn*— *a 

52 + ft 


i? MantS • » ' 

TOil-ow »at> av.YM PE 

2ft «i’eal«ia • " 

a* 7*E*A*rp*»ffl( 

*Sft 9ft EASrpf64jfik . 

»% «H EAlrafC - • 

2gJ 3TV» EntCF T3I>: SJ 
«ft 15ft EotfUtl 2J*> *5 9 
» -41ft EdCOBl Z2D0 44 U 
*114 49ft COton 160.2) 6 
a 197 &MonpfWJ» tl - 

. ig* lift return* _ m xi n 
gft 30 ..Eefcord 1,0* 34 M 
nyt au gdidr 140 « is 
u» M E«i JB 17. IS 

nit a e53no ,» 15 17 

Uvs 22* Edward . JO Ik 14 

as* 21ft EPGdpf 135 U . 
™ f Emm *& j> il 
13 . 79* Eteor J6 13 

B* j*r CtKM . . . li 

3A4 13ft £tam* JOB A 25 

I* in* Etsh M a IS 

•ft 3 gisdm 

7IU W Emriet 1» Id u 
JW At Eareod .WMU 9 
30ft 15V, ErarvA S3 11 U 
. Bft.Xft -&SMT1 7406 4* U 
» .«» ErnoDl W U ( 
5Vt 4 Eimcf 47. 9) 

fl* 4ft gm»pf . JO 93 

*4 7ft Ernapl .41 HIS 

lift 121fa Eiwom 1 H* 74 Ifl 

n Enfixr 

Wft 2114 OmrfCo 31 3M 13 
TSft lift En«Bu* 3t XX U 
»ft Uft Enjeren 1408AJ144 
.Sffi 17 S § "«E» " 15C» *J A 

2ft I* Ensrce. .... 2/ 
Wk 9V. EifHjiu 
mt, im EnfexE ttfctfJ 
21*4 17*4 Entrnln 1J6 M II 
WV* Silt Eaulxi 12* 15 71 
*V4 7* Eauhnk 
W4 14U Evmhp<211 1U 
SJV, 32V. Earn IS W «» 
17 n Edultsc .1* 1J 5 

]W 10ft Erbmrrt JO 10 13 
2*J4 Iai euSui M 1J 15 
***. K Em>C, JO IS W 

25 h cstriM sn- *n xi 

27 15)4 Etfayl J jSS 23 TS 

4**t 33H, CxCeta in 11 11 
32* 13 ■ Excolsr Tjaeiu 
55*4 CB4 Exxon Ut il I 


So. Om 

Wftnwbuai BaBtOUaa. 


n il* 1 
17 -14*4 M 
W 1*1* U 
If 2014 in 
1SH 354 «t) 
1» 34ft 23«k 
non 4fh 48ft 
305 *1*4 60ft 
13*1 . 241 
5735 tm 1314 
3037 X4 3014 
S 331 h 32(4 
M3 left IS* 
305 1114 IN* 
*3> jiu* m 
, K. 33=t* 3Sft 
48 um urn 
TO ffiU 18ft 
' U ■ 4ft 4ft 
13 32 21ft 
25 U 13 
183 3ft 3U 
3033 75ft 74ft 
430 ' 0*4 Pm 
4ft Kft 15ft 
214 30H *W 
'88. 72* 
Itb M Stt 

s&-a «ft 

8 UK 1*14 
40* ft 
303 33ft U 

ran m 

IIS* 8ft 23ft 

m ivia in* 

. 138 9ft . 2ft 

a* lift 1114 
171 U 13ft 
27 Tfft Wft 

52 25ft 3SV* 
m 4 3ft 

* ifft in. 
84 43ft 43ft 

w w in 

77* 15 1414 

105 24(4 34ft 
7* »54 17ft 
■ 77 H 17ft 
1193 27* 36ft 
103 45 44ft 

53 1 7ft 77ft 
5529 54ft 53ft 


1 •— V* 
Uft 

UU. + ft 
20 + ft 

25ft + ft 
34(4+ ft 
47ft +1U 
41 + ft 

mi +m 

ra* + 1 * 

ss 

14ft +114 
11 —ft 
31 + ft 

25ft 
nft 
IB ft 
4ft 

a. + ft 

13+14 
3(4+ ft 
75ft + ft 
lit- ft 
15ft + ft 
30U— ft 
22ft— ft 
5U + ft 
5h + (4 
Oft— ft 
14ft— ft 


21 + ft 

23ft— It 
19ft— ft 
2(4 

11(4— ft 
.13 + ft 
1H6 + ft 
35(4 + U 
< 

Tfft — ft 
43(4 + ft 
Mft- ft 

gg + * 

17ft + ft 
18 ■ + ft 
37 + ft 

Mft + ft 
17ft— ft 
54 + H 


743 
1103 
82 
147 
179 
75 

507 43ft 
73 nft 
42ft 
441 41ft 
7B 12 
401 13 
43 3ft 
1913 tfft 
5400 44ft 

no *ft 

850 
39 
771 


59ft— lit 
281* + ft 


21 EGG M U 30 445 37ft 38ft Tfft + (4 

17(6 lift EQK n 1J6 7 A 91« 17 17 17 —ft 

32*1 23ft E Syil JO 17 IS 485 39ft 28ft 29V* 

2EU 20 EoolBP 1^4 18 10 B7 27ft 27ft 27ft + U 

20!t 12ft EOKO SOX 131 17ft 17ft 17ft 



23% 13ft E asco 
12ft 3H EcnlAlr 
1(i EALwtO 


131 17ft 17ft 17ft 
4 3945 * 5ft 4 

43 2 Tft 11* 


48M 33ft GAF JO A 14 3334 48ft 48 48ft— ft 

37ft 2714 GAI-X 1.20 19 260 31te 3Bft 31 + ft 

47ft 34(4 GATXnfZSO 45 3 38ft 38ft 38ft— ft 

33ft 4ft GCA *15 M* 4ft Alt— ft 

Kf* U GEICO liU 1J II 1* SO Tfft 80 + ft 


9ft 8ft 9ft 
18ft 18ft 18ft 
40ft 119 1/0’. 

27V* 34ft 27 
35ft Mft 35ft 1 
7ft 7ft 7ft 
4ft 4ft 4ft 
at 
23ft 
39ft ■ 
385, 
40ft 
481* 
7ft 
45ft 
83 
40W 
23ft 


'H 









23ft JWT % 1.12 3A 

23* JRivw J4 U 
16ft Jramw* .13 A 

10ft JoonF U3«ll J 
M JeHPII 152 IS 
36ft J«rC Ft 400 114 
53ft JerCpt 8.12 11 J 
51 JerCpf 7J8 II J 
91ft JerCri 1350 12.9 
15 MfCM 218 11 J 
Aft Jcwlcr 

Uft JonnJn 1J0 26 
3Sft JonnCn UK 42 
50ft jrnCpI 425 72 
27ft Jeroen 1M 42 
30* Josntns 58 3J 
Sift JovMifl 160 Oil 
7ft KOI 24 £J 

13 KLM Jle 28 
30ft K man 160 4 JO 
IX* KNEnr. 

12ft Ka>srAl .151 
13ft KataCe 20 16 
Mft KO*Cpt 137 *6 
7ft Kanea .40 49 
87 Kanabpfi 127*10.9 
18 KCJvPL 2J4 109 
3Tft KCPLal 180 119 
15ft KCPLot 229 116 
17 KCPLpf 233 112 
45 ’m KCSeu 138 3.1 
lift KCSopf 120 03 
9ft KnnGE 1.18 92 
33ft KojvPU 2.94 76 
18ft KaPLPt 223 93 
12ft Kolyln 
33V, Katrpf 16k 13 
12ft KowfBr 60 25 

14 KaHpl 150 96 
73 Keufpf 075 108 
37ft KcIIom 184 26 
23ft Kelhnd 1J* 19 

ft Kenal 

1 Tn tCerarrf 88 43 
lift KPTdv n 


18 TO 33ft 

12 392 37ft 

12 128 71ft 

113 12ft 

8 40/ 51ft 

2502 35 
1002 71ft 

40Z 70ft 
TtfcUMft 
11 19ft 
24 5* lift 

IS SKI 50ft 
10 IBS 48ft 

1 59 

19 3 in* 

15 TW 24ft 
28 777 33ft 
12 105 10U 

10 3217 18U. 

11 5971 I5U 
W 21 14ft 

*788 17 

9 111 14(* 

69 16U 
23 2373 8ft 

1001 02103 ft 

5 1329 72 
3002 32 

2 191* 
7 20ft 

8 712x 51ft 

302 12 

5 1040 lift 

9 124 39 

I 32ft 
148 lkft 
72 44ft 
4 «1 14U 

3 lift 
72 81% 

1* 2751 71 
8 59 44ft 

87 % 

18 77 20ft 

346® 15ft 


30ft 30ft 
34ft 34ft- 
21V* 31ft 
12ft 12ft- 
51ft 51ft- 
35 35 

71ft 7Tft 
70ft 70ft ■ 
\04ftl04Vl- 
19ft 19ft- 
14ft 14% ' 
48 49ft 
48 48 - 

59 5V 
23ft aft 
26ft 2*1* 
23* 23ft 
10 ft 10% ■ 
17ft I8U ■ 
Sift 35 
16 16 - 
14ft 17 ' 

Mft 14V. ■ 
15V. ltu ' 
8 8ft 
103ft 103ft 
21ft Sift- 
32 22 ' 

19'* 19% - 
20ft 20ft 
5<n. 51 - 
12 12 
13 13ft- 

38ft 39 
22ft 22ft- 
IkU 16ft- 
44 <4 ■ 

14V* Mft 
16 16 - 
81 811* 
49ft 7m* 
46 Vk 44ft 

20ft 20ft- 
15ft 15ft- 


iifrt 




. ft ; 


l - ' 


; tlS ^ 




iptl 





\ : 






7S- 



y. 


:-ft •• • ,%'f * 


• & :■ 




y 










\ 





s\M 






m 









% 


X 


f 


u 


















a#e*. 







,^wt# 













‘ • • 

.;• -JiiSii- •• • v 

.saw- ’ 

s** 


mi 


vv';.: .... 

■6*sseu 






mm*. 










ftfane- 




-‘T 






K. 






js"arS£5KR 





•• x; 
X- 







^%s 

Wri^^y Xx&fp- 














SSNS 


’t«3S!rt 


^r- 












mtm 



m 


L./'SrlSS 


^ " 

n j* 2 ^ " 

*r *>*" ' 

" 

H?**;! K* 
** 


.courage tolhink and make decisions that 
^ ^ b^rbnd today. 

-* *rt j’.-i'-. 

' ’ - m ;.*? ^.^M^npari v cars: . . 

_^sf jL teiriess philoso phy on 4 wheels. 

fpe^any other car is more suited to that kind 

than a BMW. 

pn^'. :Ji ff 9®ast because it Is a mirror image of me 
: . " f ^ .',' ;pP ,jP .SffSIities which distinflulshtti® company 
. - -S^ ; hahi!fe made it successful; ; far 

r ^/A^use a BMW is technologically so 

. > ■ ■ ■ 

"-'-.Ars' sc-'... . 


ahead of its time, it represents an excellent 
investment from the purely commercial point of 
view as well. 

Take the BMW 5-Series. The exceptionally wide, 
carefully balanced range means that you 
can match every organisational or hierarchical 
requirement perfectly and in a highly individual, 
personalised way. 

And as a BMW’s exclusivity and unmistakable 
personality Is underlined by a level of quality 
that’s a long way above conventional 


standards, it also lets you express motivation, 
recognition and personal success to the full. 
So specifying BMWs for your car fleet publicly 

reaffirms enterpreneurial farsightedness 
and the ability to recognise the ultimate in con- 
temporary values. And they also demonstrate 
that, on 4 wheels as well, you have no intention 
of travelling in the wake of progress. 
Furthermore, by allowing your colleagues to 
step behind the wheel of a BMW, you’re 
also telling them that you believe greater effort 
deserves greater reward. 


So perhaps it’s no wonder that more and more 
successful companies are choosing BMW. 

BMW cars. 

The BMW range of fine automobiles: the ulti- 
mate in performance, comfort and safety. 



BMW AG, Munich 













































:;kVvt 




Se> 

H 


W» 

54» 

X. 

3. 


1 

X 

3J 

ES 

Pr 


5 i- 


X‘ 

2 .' 

2 J 

2. 

2 , 

2 .' 

ES 

Pr 


SO 

so 

6. 

7j 

7 : 


c 

fc. 

x- 

6 J 

ES 

Pr 


SO 

Ti 

u 

3 

It 

1 * 

li 

It 

V 

i: 

II 

ES 

Pr 


SO 

to* 


ES 

Pr 


C/ 

40, 


Ea 

Pr 

FI 


K( 

30. 


PC 

38. 


cc 

37, 

li 


i 


Pl- 

op 

Un 


U* 

BF 


1 

1 

1 

SO t 

c s 

7 

«U 

DA 

3 

3 

3 

3 

3 

3 

3 

3 
FF 
6 JS 
JY- 

4 
4 


4 

tu 

SF- 


4 

4 

Tol 

Till 


Ur 

50i 




Page 12 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 




INTERNATIONAL POSITIONS 





ABU DHABI NATIONAL OIL COMPANY 
ANNOUNCES THE FOLLOWING VACANCIES 


PUNNING SUPERINTENDENT 

Responsible for the work of the Planning Department in Exploration & Production, comprising studies on 
ADNOC Group strategies for the changing environment, and on optimisation/development of operations 
and facilities in the ADNOC Group Oil Operating Companies, integration of ADNOC and Operating 
Companies' work programmes and budgets, and monitoring and evaluation of plan implementation. 

The candidate should have a B.Sc. in Petroleum/Mechanical/Chemical Engineering or equivalent, with 
minimum 12 years relevant experience in the petroleum production industry including 5-6 years in a 
managerial or senior supervisory level. 


SUPERVISOR - PLANS & PROGRAMMES COORDINATION 

Responsible for the evaluation and consolidation of work programmes and annual plans of the ADNOC 
Group Oil Operating Companies (OPCOs) and integration of ADNOC Sole^Risk plans for exploration, 
condensate and gas. Directs the appraisal of budgets and expenditure phasing. Monitors OPCOs'. .. _ 
performance, identifies and analyses major problems, and formulates recommendations on course of 
action. 

The candidate should have a BSc. in Petroleum/Mechanical/Chemical Engineering br equivalent, with 
minimum 10 years relevant experience in the petroleum production industry, including 4-5 years at a 
senior supervisory level. 


SERVICE COMPANIES’ COORDINATOR 

Responsible for the review, analysis and follow-up of work programmes, capital projects, 
budgets and operations of assigned oil industry Service Companies in the ADNOC Group. He is 
required to see that ADNOC objectives for the Service Companies, particularly in relation to the 
petroleum industry in Abu Dhabi, are optimally fulfilled, and prepare review reports and 
recommendations for submission to ADNOC management. 

The candidate should have a B.Sc. in Engineering with minimum 10 years experience in industry 
(preferably petroleum related) including 4-5 years experience in a senior' supervisory level. 


OPCOS’ OPERATIONS COORDINATOR 

Represents ADNOC and coordinates and monitors on its behalf all activities related to the 
operations and related services of the Oil Operating Companies in the ADNOC Group, so as to 
conform to ADNOC’s policy and guidelines. Represents ADNOC in the related Tender Boards 
and prepares recommendations on ADNOC position on contract awards renewals, extensions 
and purchases for submission to ADNOC management. 

The candidate should have a B.Sc. in Engineering, with minimum 10 years engineering 
experience in oil or allied industry with 4-5 years in the drilling and production operations in a 
senior supervisory level. 

Very good knowledge of English is essential for all these appointments. Knowledge of Arabic 
w-UI be an advantage. 


Interested candidates are invited to forward their application together with photocopies of their edu- 
cation and experience certificates, within three weeks from the date hereof, to: 


PERSONNEL DIRECTORATE - EMPLOYMENT DIVISION 
ABU DHABI NATIONAL OIL COMPANY 
P.O. BOX 898 ABU DHABI - UJL.E. 


GEOSURVEY 

INTERNATIONAL LIMITED 


require to appoint a 


MANAGER, MIDDLE EAST 


to 


be based ai Hm company’s Technical Co-orcfinafing and Data 
Processing centra at East Moiesey, Surrey. 


The responsibilities of the Manager; Middle East wilt be the co-ordination 
and development of the company's business and technical operations in 
that area. H win be necessary for the a pp ointee to have extensive 
knowledge of business activities and markets in the Middle East, able to 
demonstrate his contacts in the relevant fields of operation, and be fluent 
in both spoken and written English and Arabic 


Activities covered include airborne and ground geophysics, mineral and 
groundwater exploration, raining engineering and management, remote 
tensmg, geochemistry, aerial photography, ground surveys, photogram- 
mefrte, arthophoto and digital mapping, and resources surveys and 
inventory. 


Salary, lor suitable experienced and qualified ca ndi date, will be nego- 
tiable in the region of £10,000 per annum. 


Apportions in writing, with fully detailed curriculum vitae, should be 
sent to: 


Mr. D.N. E dward s , Administration Manager (U.K.) 
Geosurvey International Limited, Geosurvey House, 
Orchard Lane, East Moiesey, Surrey, KT8 OBY 


We are the European division, headquartered in 
Paris, of a diversified U.S. multinational. A small 
team, directed by the Division Controller, coordi- 
nates and supervises the financial activities of die 
Company's European Subsidiaries. 

Our Finance team has an opening for die position of 


FINANCIAL ANALYST M/F 


His/her responsibilities will consist of: 

— Annual planning, coordination and consolidation of the 
division's profit plan and budgets; 

— Monthly analysis of and reporting on the division’s con- 
solidated financial activities; 

— Analysis and evaluation of capital investments; 

— Development of computerized financial analysis and re- 
porting programs; 

— Participation in study projects directed by division man- 
agement; 


To qualify for this position we expect: 

— Experience in financial analysis and reporting; 

— Working knowledge of electronic spread sheets and com- 
puter programming experience (CoboL Basic); 

— knowledge of basic accounting and finance ^principles; 

— Fluency in English; working knowledge of French; other 
European languages a pilns; 

— Clear and concise oral and written presentations; 

— Self starter abilities, but teamwork er when need be; 


We offer a competitive salary and benefits package. Interest- 
ed candidates are invited to send resume and salary require- 


ments to: 


Bex D*-l 30 Herald Tribune, 
92521 Neuilly Cedex, France. 


1 



o 


REGIONAL DIRECTOR 
OF DEVELOPMENT 


1NSEAD, the leading private European business school, enjoys 
the finondd support of many multi-national corporations. 

The REGIONAL DIRECTOR will be responsible for further 
increasing this support, initially in Britain and in the 

NETH&tLAFOS. 

He/she will report to the director of development, working 
relationships with academic staff at school and with senior 
executives in the countries. 


A wide range of oge (minimum 35), previous experience, and 
educational background is acceptable. Prefer e nce will be given 
to candidates who combine work experience in large corpora- 
tions with a familiarity with management education. 

English mother tongue with excellent verbal and writing skills in 
it, and a working knowledge of French are required. 


Please send a detailled C.V., photo, references to 
Personnel Department INSEAD - Bid. de Constance 
77305 FONTAINEBLEAU Cedex. FRANCE 


EXECUTIVES AVAILABLE 



AGBKE SrfOAilsfe DB MG&flHJRS ET CADRES 


12 Rub Wench*. 75+38 Pori* CS3EX 09 
T«L : 28061,46. Ext. 71.-28*54^0. Ext. 42. 


e ADVTCTISMa DSECTOR, 48. MU. 
French Gorman fluent agency. Adve rt i ser 
bodeground field experience LOOKS far ad 
miogor fausineu to button or taematian- 
d Dir. Agency. Europe Asia USA. Kaf.i 370- 
PAKS CADRES L 


• ASSISTANT TO GCNBAL MANAGS- 
MMT, involved far 25 yean with the mad 
important derisions wfchin irrtemafionaJ 
compniei, b lookmg for a high-level pad 
secretarial - cmfancrton - Urwturn - regula- 
tion. Public relations aetnati*. French riti- 
zen. Cambridge Profi ci ency, knowledge of 
ward processing t ydeni {Rank Xerox 860L 
Ref.: JTlfARS CADRES L 


KKUnve, 48, dynamic and 
vendSe. Marketing Experience part iripa t- 
ing market Heveys [10 yean wjtfi Irish com- 
pany) 7 years teaching (buiinem in Engfeh 
at chamber of commer ce and vocation al 
training) eOorasSed in Arts (exhbfe in Od.) 
and EtmkA St+K S penn on o nl po si tion 
{M or part-tone) inwoMng intensive we of 
Engleh, prefering cwHuroi area 472- 

Paris Cadres i. 


• OmunuCTIOMWR r 28.<rapieal 
diseases graduation. Having 2 yean hospi- 
tal experience. 1 year African csnrnxm- 
weaM) searches a technical |ob in pharmo- 
ceutlc Mue»y. Ref.: 473 -JMJBS GAMES L 


INTERNATIONAL 

POSITIONS” 


appears every Thursday A Saturday 

TO PUCE AN ADVERTISEMENT contact your neared 
International Herald Tribune repr ese ntative or Max Ferrer e: 

181 Ava. Ch ari ov de -Gtarflo, 92521 Neeifly Cedex, France. 

Tel.: 47-47-12-65. Telex: 613 S9S. 


Wfednesdatfe 


MSE 


Closing 


Tablet include the nationwide prices 
up to Hie closing on Wall Street 
and do net reflect late trades elsewhere. 


12 Month 

High Lew Stock 


DO.YM.PE 


Ste. 

HOs High Low 


CM 

Quel. CMC 


(Continued from Page 11) 


amt 48% Nwsfot jjoeiej w sn no 
3S 23 Novo -24el,0 11 764 .26% 2S* 26% 

49* 2BU. Nucor 58 J 14 PSA 48 47% 48 + * 

7v; 3 Nutri5 an n ** *Vi 4 * 4% 

92% 72 NYNEX 440 74 ? 1134 7188 91% 91% + % 


3% lie Oaklnd 
341k 73 Vk OedPet 240 
15*4 9% OcdPwT 


69 7 


51 41 Ik OccJ 

u am Occ 

23 171k OCC 

5aw Occ 

113 IK* Ocd 
llOVhlCCftk 0C6 


P pf 2.14 13 
Pol LSI 93 
P pf 2.12 M 
Ppf 645 1&7 
Refiuo 144 
fH 1442 134 


n ava iQ3va ocdPpnoo iu 
28% 19% 0DEC0 UK 44 23 
341k 25* Oeden UN 53 22 
141k U OB fa Ed IX 114 7 
37to 28% Oft Erf Of 444 124 
37% 304k OhEdof 444 128 
6014 481k OhEd pf 724 122 

28 25% OftEdpf 470 25 

2Hk 34 OhEdpf 340 124 
319b 2416 Oh£d pr 292 124 
WU. 13* Oh Ed pf 1J0 11.1 
751k 60kk OhEdpf 9.12 124 
72 57 OftEdof 844 124 

99 76 OBE at 1048 114 

lfil ICFtk Ohfttatr 40 13 16 
711k 57 OftPrf 204 1L7 
niVk 1C214 OhPefAUJO 124 
113 103 OhPetFUJN T27 

24*k 211k OkJeGE 200 21 11 

9U 7U OkioG pf JO 94 
TO 7S=m OUn 140 4.1 
10Vk SVa Omncm 
171k 12 Oneida JO 54 .47 
3314 264k ONEOK 256 20 11 

29 2216 OranRfc 214 BjO 10 
12H 7W Oranat S3) 4.1 25 
Jl 20 OrtonC 36 24 

» 23 OrtonCpfl.12 74 

12* 81k OrtonP 

331k 24 Orion pf 275 
31V. IWk OuttxiM 44 
40H 241% OvmTr M 
W 13 OvShiP 40 
37 30Vk OwenC 140 
54V. 38H Owen III 1 JO 
151k 101k Oxford 44 


94 

25 15 
21 14 
25 .15 

19 9 
23 11 

20 32 


6S54 364k 36* J6H + £ 
7 15Vk 15V. 151k + W 
I 579k 5799 57*k +»Vfe 

1 259k 2S9b KJ 

6 229k 221k fflk— 

301 sev. m 5 bvi 
30 1079k 1071k 107*k 
■VO W% 18516 109 
207119*9 1191k 1191k +1 
339 tl 20Vi 21 +% 
125 339k ,331k 339k + W 
2484 lit* 16V. 16VS ,, 
IDOz 37 37 37 —lk 

100Z&6 3514 
8007 5? Ik 591k 59W 
384 2546 264k 25H— H 
IS 251k TS'U 28to— » 
20 J1K 3044 31W + * 

2 1416 16W ltto + ,«> 

72S 75 75 75 +llk 

307 68 tk 61 lk *819—1 

30Z 92 91 92 

47 1216 11* 12 “5? 
1502 59 6816 68% +7 to 

12O09V. 1091k 1D9V. +11k 

201118 110 110 +l lt 

849 2416 ye* + to 

1302 8* CIS 8* + » 
478 371k 36* 364k— JJ 
365 744 74k TVk + * 

1*7 14 159k 159k— * 

153 32* 31* 31* „ 

39 25* 25* 2616 + to 
4C7 an evk sv. + to 
92 30 2914 29* + * 

12 2816 28 28 — * 
1945 in* IB 10 V. + to 
23 2814 2716 28 + * 

543 24 2SH 26 + * 

99 3Sto 33 3S1k + * 
241 17* 169k 17 + * 

264 3516 35* 25H 
692 54* SPA 541k + * 
771 1446 1416 144 k + * 


37V. 231k PHH 140 34 13 

5T16 aiva PPG 1J4 3J 11 

31Vk 19V. PSA 40 24 12 

231k 15* PSAdaf 1-5Q 94 

14to 12 PacAS 1J4 10J 

2014 1516 PocGE 144 9 A 7 

4616 37* PccLto 3J8 74 13 

41* 24* PcLmn 1 JB 34 24 

M*k 59k PacRes 45e S 10 
20 131k PocRsol 23K TOJ 

171k 12 kk PocSd 40 24 13 

824i 66to PocTeJe 571 73 ! 

15 9to PocTln 40 13 7 

31* 24V. PacffCP 2.40 82 8 

35 309k PocH pf 4JJ7 114 

431k 2516 PalnWb 40 ~ 

3416 259k PalnWpfS. 


642 3m 331k 331k— Ik 

1462 SOVl 49 Vk 50* +1 

151 2616 2SVk 25* — to 

101 21 Vk 21 21 

5 14* 14 14* + * 

2419 191k 19* 19* + to 

231 459k 45* 45* + * 

95 37* 3716 37* 

133 10* lOto 1016 

95 19* 19* 19* 

101 14* 1416 14* 4- to 

1793 79 78 78* + to 

U 1216 1216 1216— M 

400 27* 29 2916 + * 

n 3516 34* 35 

\3 21 4223 3516 33* 35 +1* 

74 2H7 31* 30* 31 + * 


329k Palm Be 401 50 122 3516 35 25Vk + * 

4016 2016 PanABic JO 14 10 5 43 42* 43 + * 

Sto 4 PonAm 2351 8 7* 7*— * 

4 lto PcmAwf 323 2* 2* 2* - 

21 13* Pnndckn JO 1J 18 570 T7V. 1516 T7to + * 

41* 32* PartfiEC 240 54 12 1033 3616 3516 36 + to 

24* 1216 Proof) 14 834 22* 21* 22* + * 

9* 3* Pan-tPr 1160 9 Bto 8*— 16 

U* 6* Pardyn 590 8* 8* 816 + 16 

17* 11* ParkEI jBk 2 11 41 14to 14 I4to + to 

7* 4 ParfcOrl _08 U 406 4to 4to 4*— * 

3«* 2816 PortcH 1.12 33 12 5S8 15* 35* 35* + 16 

23* 14* ParkPn 4212433 27123 22*23 +* 

5 3 PalPtrs 23 S 3th 3* 3*— * 

15* 111k ParNP 44 44 IS 307 13* n* 13* . 

23* 13* PoyCsh .16 1.1 14 1932 IS, 1416 14*— to 

1* * Pengs 314 * 

SB* 45 PenCen 14 24» 50* 49* 4916— * 

5416 44* Penney 246 44 18 2065 S3* 52* 53* + * 

27* 23* PaPL 245 94 10 939 27* 27* 27*— to 


40* 33 PaPL pf 440 1U 
2914 25* PaPLdprUJ 11 J 
27* 2Zto PaPLdPr240 HL7 
74* 4016 PaPL pr 8.40 11 J 
29 24* PaPLdP*0J5 112 


31* 27* PoPLdpr3J5 11.9 
78 PePLpf 9J4 94 


99* 78 PoPLl. 

103* 8896 PaPLprllJO 107 
70* 5716 PaPL pr BJO 11.9 
75* 52 PaPL pr BJO 114 
41* 34 PemK.-t 220 54 
25* 20 Penwpf 140 54 


230X40 39 40 

17 27* 29V. 29to — * 
10 27* 27* 27*— * 
230z 72* 71 72* +1* 

17 29* 2Sto 29 + to 

2« 31* 31* 31* 
2500x97* 97* 97*— * 
530x10216 102* 10216 + to 
140X6716 67* 6716 — * 
12Dr 75 73 73 —2 

53 39 31* 39 + 16 

9 24* 24 24* +1 


65* 34 Pennzol 2JQ 34 28 4014 6316 6216 53* + * 

18* 14* PoosEn 1J0 64 8 308 1H6 1816 18*— * 

25* 14* PepBy s 3D J 21 46 24* 2566 25*— 15 

6716 37* PepsiCo IJS 24 12 2202 69* 5716 5** +2* 

30* 22* PerKEI 40 2.1 17 1944 29* 29 29V, + * 

9* 7 Prmlan l.llelSJ 5 1032 7to 7* 716 
1816 KB6 PervOs 417 18* 18 1816 + * 

49 31 Petrie 140 21 II 885 50* 48* 49* +1* 

28* 24* PetRs 3J2413J 33 27 24to 27 — * 

I TL 1416 PetRs Pf 147 94 26 16* 16* 16* 

Sto 2to Ptrlnv 40*244 59 3* 3* 3* + Ik 

53to 37to Pfizer 148 24 15 7101 53* 51 to 5316 +1* 


34 1216 PftelPO 

55 34 Phelppr 540 94 

45* 29 Pfibrs 44 1 J 22 

16* 13* PWtoEl 22BM.1 i 
32 2516 PhtlE Pf 340 IZ1 

35 28 PftllE Pf 4J0 124 

35* 29 Phi IE of 440 129 
37* 3D* PhfTEpf 44B 13J 
49* 57 PMlEof 8JS12J • 

11* 9* PDUEpf 141 134 

10* 9 PhUEot 133 127 

10* Bto PtillE pf 13 125 

79 54* PMIEpf 952 115 

75 42to PhHEpf 9.50 128 

43* 51* PhllEpf 7 JO 124 

50 50* PhllEpf 7JS 134 

2316 15* PhltSub 13 62 13 

95* 72 PhilMr 440 5.1 9 

25to 15to Philpln 40 

54* 3966 PhUInpf 140 


455 21to 20* 21* + 16 
13 52to 52 52 + * 

5081 44 <2* 43* + * 

1605 1516 15* 15* 

300Z 31* 30 31* +1* 

1001 33* 33* 31* + * 
508 34* 34* 34*— 1* 
34 36 -I* 


a 


■'»« 2 -3 

132 11 ID* TO* — to 
124 10* 10* 10* 

99 10* 10to 1016 
mOzBO 79 80 +1 

19Kb. 74 72* 74* 

2508 52* 6216 62to 
600z 40* 59to 
6 2116 21 
6594 28* 7< 

13 206 23* 

1 56* 


W6 111* PbilPt* 140 73 11 11» 13* 11 


25* 22to PhfPJ pf I44e 44 .. 721 23* 23K 


20* PhAVH 
35* 26* PledA S 
34* 29* PlefiG 
25to lito Pier 1 
63* 3816 Pltsbrv 


40 

-28 

2 J 2 


34 21* Pioneer 1J4 S3 12 

2516 13* PlocrEI 48e 5 
45* 33* Pttnyfi U0 25 16 

91 56 PiblB pf Z12 23 

14* 9to PHtttn 
21 16* PlanPtn 47 4 

19 11 PlanFts JO 1.1 15 

13 7 Pianfrti .16b IJ 13 

13* 7* Ptavtiov 75 

19* 11* POOOPd 40 44 62 

39* 24* Pe&W 1 JO 25 57 

16* ID* Pondrj .40 J 34 

21* 15* PepTal JO 4J St 

22to 14* Portec 40 34 

2T* 16* PortGE LS0 84 9 

25 19to PorGpf 250 10J 

35* 31 PorGpf 440 12J 

34* 30* PorGpf 432 12J 

43* 28* Pofttm 156 4J 15 

34 23* Pdtm 6T‘ 2.16 67 9 

4tto 33 PotEl pf 444 99 

50* 44* PoTE I pf 4J3 BJ 

27* IS* Preml f 54 IJ 20 

21* 16* Pilmks .1.10 54 8 

20* 14* PrimaC 
37* 16* PrimMs 49 


14 13 123 28* 28V. 
J f 1002 33* 32* 
64 12 5 33* 33* 

15 142 26* 26* 
L72 2J 13 1132 



+ to 


51* 50* ProctC 250 19 17 1911 

15* I PrdRSs -28 1.9.23 XI 

45* 35* Prater 148 34 16 

2* 2 PraRCn 
8* 7* PrvRI n 
2P6 1816 PSvCoi 200 94 9 
2116 17* PSCofPf 210 1(U 
10* 6* PSInd 140 113 ‘ 


309 22* 22* 22* 

40 16 16 16 — * 

680 47* 46 47* +1* 

1 94 94 94 -« 

239 12* 12* 12* + * 
31 18* 18 1816— to 

859 II* 17 17* + * 

191 13 T2to 1214 ' 

131 »* 8 * IK—* 

in 13* 12* 13 + to 

424 38* 37* X* + * 
727 15* 15* 15*— to 

212 18 17* 17* 

196 17* 17* 17* + to 

428 21* 21* 21*— * 

5 24* 24* 24*— * 

21 34* 34* 34*—* 

13 34* 34 34 

234 37K 35* 37to + * 
656 32* 32V. 32* 

400x 41 41 41 + to 

3 48* 4816 4814 + * 
135 2716 269k 27 — * 

100 2«. 20* 20*— * 

19 18258 22* 20* 22* +1* 

J 28 342 38 3716 38 +* 


25* 21* PSlnpf 
9 «to PSlnpf 
5* 7 PSlnpf 
53 41 PSlnpf 

71 52* PSlnpf 

43 49* PSlnpf 

70 56 PSlnpf 

66 51 PSfnpf 

Sto 3* PSvNH 
17 B* PSNHpf 
22to 11* PNHpfD 
22* Tito PNH pfE 
19* fKPNHpfF 


3J0 14J 
1J4 110 
1 Jl 1317 
7.15 ULV 
954 14.1 
838 16J 
450 15J 
196 164 


67to 66 * 65to— to 
1516 '15 15* + to 

34 G* 41* 41*—* 
IN 2 -2 2 

41 8 7* I + * 

422 20 * 20 K 201 * 

15 20 * 2011 20 * + to 
1950 7* 716 7* 

270z 24* 24 24* + * 

mm b 7* i + * 
21202 7* 7* 7*— * 


150x45 
1290x 59 58 

500x52* 52 
83QZ41 59 

1000x56 56 

3 3708 I 7to 
500z 16 14 


45 +1 
SB*— 1 
52* 

61 +116 
36 + * 

7* + * 
14 +16 


2Jto 18* PNHpfG 

— - pSvNM 192 105 


19 

3 J0 


5f 

29 21 


2J10 


29* Sto ... 

32* 25* PSvEG 244 94 
IS 12 PSEGpt 150 10.1 
40 30U P5EG Pf 4JB 10.5 

41* 31* PSEGPf 430 10-5 
113* 97W PSEGpfllBO 11J 
7716 70 PSEGpf S.14 11 J 
71* 16* PSEGpf 2.17 1CL5 
23* 1816 PSEGpf 253 TOJ 
109 96* PSEG Pfl2J5 n J 

73* 50 PSEG pf 7 JO TOJ 
71* 54* PSEGpf 750 TOJ 
4* 2* PuJHIck 

16* 914 Puebla .16 18 12 

7* 6 PR Cent 4 

17 12* PusefP T-76 113 7 

7to 6to PulPen 
2H6 UPk PuiteHm .12 9 IS 

II* 1516 Ptfrakrt 541 16 

1016 s* Pyro 7 

63 33 QtN*Ot 150 13 16 

25 17 QuafcSO J0a 34. 19 

_T 0 * 5 Quanex X 

3416 27 Goestar 140 5J 11 
27* 14* Ok Roll -24a 9 17 
916 Sto RBIOd 441 J 

49* 34 RCA 1j04 2J 18 

40 39* RCA of 

40* ISV RCA pf 

9* 6 Vi Ri_C 

4to 3* RPC 
20* 14* RTE 46 
1B<6 Sto Rodlce 
49 32 RalsPur 140 

9* 5* Homed 
21U If* ROMO 
5* ZW RanprO 
87 51* Royotv 

lito «* Rpytnk 
20* 19* Raynr n 
53* 36to Rovftm 
1014 5* ReadBt ... ... 

21* 13 RdSatpf 2.12 UJ 
2316 It* RdBdPt3.T2tJ7J 
1516 lito rnrRer l Aa93 ID 
17K lto RtaiEa 
12* 7 Redmn 
12* 6* Reece 
lto to Resol 
43* 27* RelcnC 
10* 4* ResAlr 
1 lto RepAwt 
1214 6to RbGVPS 
51* 36* ReoNY _ 

29 23to RMY pfC 3.12 1M 
34* 24* R5PBK 144 S5 

30 X* RepBk pf2t2 

25* 15* RshCU J2 
29* 22* Rewca JO 
17* io* Revere 
58 32* Revfon . 1A6 

26to 21 * Rcvfnpf 

100* 93 RvfnpfB940 
2 Sto 18 * Rexhm JO 

15* li* Rexnrn 54 
32* 24to Revnin s 148 
112*103* fteyln pfllJO IflJ 
131 123to Rey|iipfF246 1U 
4? to 30 RevMH 140 19 
87 55 ReyMpf 440 64 

27* 24 RekMpf 138 15 


2 21* 71* 21*— to 

11 21* 21% 21* + to 

51 18* 18 18* — to 

36 28* 20to 30to + » 

9 296 2816 27to " 

823663 30* X JO to— to 

3 14 139k Oh- Vk 

KbWi M WI + VI 

4470Z 41* 40to 41* 

114* 114* 114* + to 
73 73 73 —416 

3 2t» 28to 20* 

136 23* 23* 23% + to 
1 00 x 106 108 IX 

270r 72* 72 72* + * 

50x 70 * 7BV6 7016 . 

75 2Jk 2to 2%—* 
3 151* 1516 151* — * 
14 7to 7to 7to + * 
384 15* 141k 141b— * 
I5S 7to 7 ' 716 + to 

105 13* IJto 13* 

141 17* 17* 17*— * 
473 6 5* 5* 

424 61to 6016 60*— 1 

95 231* 23* 2H* + * 

2D3 616 51* 6* + * 

2« 301* 29*. 30* + to 

276 26to 26to 26*— to 

96 Hi 5* 5to— * 

980 4716 47 47to + 1* 
lOQz 36% 3f* 36* + * 

2 40* 40* 40Vfc 
122 7to 7 7 —to 

77 3* 3* 3to ■ 

31 20* 20* 20* + * 

99 16 15* 15* 

22 15 21 S3 46* 451* 4516— to 
22 19Z3 Bto 7* = 

44 9 15 Tito 17* 18* + * 

595 4 Jl* 316— » 

54 J 27 192 84K S3K 83to— to 
33- 9* 9* 9* + to 
242 20to 30% 20to 
140 12 11 1103 50* 49* X + to 


70 4 lto 

Z7V6 V% 

I8to 6* 

I3K 9 Rollins 
» l* 

It 11 Roper 

47 24 Rarer 

II TV* Rowan 

esto 47* HovIO 
17to n Rovlnf* • 
32*' 20* Rubrnd* 5$ 
36 14* Ryss-S"' 

24 is* RueTep 
3)16 21 Rv?** 4 

22% 32 Rvders 

» 10* Rytand 

50* |to Rvmer 


ssa - 'js'is 

RoJInE 6 M 5 7b “S iSI T2* 13* + * 


56 15 


36 ** .2” 

,w * 


L?2 !| « T 


iSt-* 





, ^ “5 ffi 


« L“» 5§S a 1 "? 


■BCC** 

as* 


.S SSk 16* + * 


iisr 


U 21 

14 

Je 15 11 

1JD 4J 9 

60 U U 

46 .24 13 . 

Sto iS* SKSranv M » “S ^ lk 

» is 40 31 !*«■ !?!? }?*"■ w 

R SaaffVHir S 

12* 5toSfedSc 


s llSSbi 


2* ;1to wt M 3S 


3BH 23to sSSfcl 

37* 25% soiewy 'aim + 

li* ‘ silica 

a ji* w + 

134 85 . 8 « ^ fto + Vk 


34*6 3814 SoM 
S 18* SUoLP 
11* M6 s Paul . 

1% 3* visotont 

38to MVk Soll^eM 

2to H* SDleG* 124 ij 

ev A&i SJuonB JtClQI ^5 .rSj ni < UUi 3n T 

mmmmm 

B 8 Ept 3 ai-i* 5 fp* 

IS u 10 51B 36% 

Jta 13 U 

Jr if ]} 

SB. 1 ) 


36*— V* 

352 11% Wk 11% 

720 Xffx 32to g* 

■89 60 5916 59* + * 

13 li J5% 1»— » 

96 3* »* 


_ „ X1A 

52 * 3516 SchrPto 141 
43 * ^ s^iirn** 

14* 9to 5dAH 
jj 23* Scoalnd 
61 Vk S3* 

45* 31* 

16to 12* Scortyj 

■Lffife'Siss 
nBAftlS -S 

S* » \* S* i ' 5 

78 34% 24to 2«k + * 

sss*sss. M 1 

41* 25* Shrwm 92 w « -is -i, 'z*x fit— * 
g* Sto ISSTpf ^ >07 12 33 32* 3» 

17* I2to Skyline M U 11 

27 2M4 Slattery 50r 13 24 

14V6 7to smrttiln 4.1 

75* SO* SrokB 1M w « ixxr as- 4 . * 

Its |SSon l.l6 10 13 738 38* 37% Wi + £ 

Vot ?2* 2J0 14J 17 28 M* U 14+ to 

4JVk 31* Sonof 100 53 10 13S1 3J16 JJ 

T9* 13* Sony CP -16e 4 14 971 w* wk J 

B8 s 

Z3V. 19* SreCppf 250 103 iS 2^ to 

30* 24* SoJerlB 258 BJ 13 23 30 W » 

49* 38* Sovxtwn 1 job 14 11 n «6 «* 

a 24* Soetflk 1J0 3J T2 791 W6 36* 3**— * 

• 5% SoetPS 2.131324 38 231 4* 6* 6* + * 


47D 40to Wlta-J 

3J 7 1571 27V. 3TA 27*— to 
23 13 376 42 41* 4T* + * 

12 500 “ 

AI 15 13 


214 14* 14% W* + * 
1 2616 26to 26to- to 

34 12 33S 74* 74* 74*+l* 

1J 21 “ 44* S* 4*k 


Will be Pouring 



with the Right Stocks i 
Just Starting to Climb 


TMDCopoidSia2WSonfor6c8yeutasln- 
digopmnteoatmtecuni8nfittp6ctrBcenI§6 
tot $7 asns » lto price & ^po* erode may 
have confirmed flKffTfiWK&paklflsIxlhql 
me prtenhd vatoe of reserves, Sf*is 

mat perceptive buyers hove made s&ks 
giut-pffiiic tows jus? in Egoft Amoco en 
Texoco hove added ST5hStoi«o tevwoged 
buying power of the tew vio uxtorstaid 
why the enwgy eyefe has ,«meq4q?want i 
again. Other currant tK^esnl^BstsW^ 
price-ochoo potwifi^fortong^epresssc^j 
services teoctecs such^rfWBhes' and 
Schlurnbagw vs Stto^teflew buye^ 
power fk»s into these ^ ant the. mote- 
aOTressivB jimtorrag)torats.Ttfracave conv 
p&nentary copies (^ Ifid^SzTHscdvwY 
report^ srcpfy cax^dete fdner gr^tvn the 
coupon. 



KeizersyacW 534. d^hstjKdam 


j Genflemett • 

1 At no cost er obtigrton teraei'^taOBebegfo sev 
j ding your 'Oscovery' states 'wfr shore- pnee 
jpropchons. • • u %- 


j NAME. 


I 


;; .k. • ■ 

r -Ji&2i28Li : 



. t'Jinal 






^ me 


t 




'SnH 


a 


v 


. m 

i 

• ijrhe. 

L ..^dr« 




.-".■r*. If 






Si 




j ADDRESS. 






JMtV j ‘i • 

-rfk-^w 


27* 21* SCrtTd 2.16 C t 21U 3«k 2«k 

23* 17* SovffiCo 104 13 7 354» TP* M* TF* + * 

26K 2Tto SelnGsa 140 64 9 31 26to 26* 26to 

44 31* SNET1 2J2 6J 11 212 -D 42* 09* + % 

27* 22% SoRv pf 260 94 2 » TB + to 

30* 24% SoUnCo 1J2 6J ta Z7% OT* 04 

43* 2416 Soutlnd UJ0 25 10 urn 40* 40% 4 «k— to 

57% 49% soertta Pt 4.00 73 57 K* 

IS lito SoRpy -12 3 23 2W 17 

10 5* Soumrk MbJL 3 6 2848 18* 

51 46 Somkpf t52elX6 1 * 

31 19* SwJUrl J3 5 W 3954 28 


I 

^ PHONE 

. x . 

• 

\ A • . 

1 

1 




WT 46 [ 



: ;ta«i 

m 

ram 




1 M 


42 

2J2 

42 


16* 9* SwtFar 
19 12to SwtGm 
88% 66 SwBefl 
29 19* SvrEnr 

26* 20 SwtPS 
17* 12* Snorton 
27* 15* SpectP 
59 3616 Spotty 

38% 31 to springs 
43* 35* SquorO 
76* «9to Soutob 
M* 18% Statev 
23% lltoSISPnt 
17* 10% StMotr _ _ 
55* 39* 3 MOOt) 240 53 
23* 10* SIPocCs 50 24 


M 

16* 16* 

9* MW + to 

41 48 — % 

27% 27* + * 

576 10* 10to 10* + to 
45 8 159 17* 17* 17* + * 
74 t 1148 8016 79* 80% + to 
23 9 25 22*22*22*+% 

Ll 9 486 25% 34* 25 

3437S 119 15* IS IS 

mr 21K 20* 2TK + % 

132 3385445150 49 £* + * 

142 tol 21 70 37 37 37 — * 

1« 45 13 56940*39*40* + * 
136 23 19 2539 7tto 7«h TPA +1* 

40 35122 40 21% 23* ffli-8 

46 23 11 2379 21* 19* 20% —1% 

32 27 15 120 12 13* U* 

9 2*39 53% 52V. O*— to 

Y 131 20% 20 20* + to 


mjKVJfSt 336 
raBtWMH 


10* Tl* 

3* » a 

38% 27* 

5 




34 3J 8 

47 37 10 
UM 33 12 
IJQoIOJ 
.12 to2 
36 II U 

40 5.9 10 


U1 28 27% 27* + to 

30 13* IJto 13* 

854 32 31% 31* + to 

167 lito 11 11 + to 

67 Sto 2* 2to— % 
8 19to 19* 19* + to 
20 13* 13% 13* 


27% 17% StaPiH 
16* 12% Standox 
31* 23* StanVHc 
IT* 9* StaMSe 
3* 2% Stetfio 
20* 15* Sterchl 

14V6 9% StriBa) _ _ „ - — 

41* Uto StalDe 130 3.1 16 4006 39% 38* 39 + to 

27* 16% StevnJ 13065 440 27% 27% 27% + 16 

32 25% SrwWrn 148 64 28 34 28* 2*to 28% 

49% 38* StaaeW 140 33 9 6 49* 49% 49* + % 

33* 5 StaoeC 40 13 62 782 3H. 32V. 33* +1% 

51% 34V. StapShp 1JO 27 a 1466 40* 60* 60* — to 

21* 16* StarEa 1J2 103 16 254 X 19% 1*6— to 

3* 1% viStorT 1635 1% lto 1* 

93* 42% Stare 50 5 228 93* 93 93% + to 

21* 17 StrtMtn UOe 69 58 19% 10* II*— to 

21* 14* StrtdRf 30 17 38 175 21% 21 2Tto + to 

6V. 3* SuovSh 58 5* S .■ S — % 

39 2 fl* SunOi 58 U IS 482 36 35* 35* 

11* 6* SuaEI 104 11% lito lito + to 

8 * 63* SunCe 2X6423 6U5U*50to5M + * 
to 90* SunCpf 225 22 2103*103* 

49% 40 Suntxstr 130 27 U 1168 69% 48* 

9* Sto SanMUt 803 6% 6* 

7* 7 SunMpf 1.19 1S5 1979 7* 7% 

39% 31 SunTnt 120 33 Tl 2» 39to 39% 39% + 

1.7 T9 2261 23 


33 23* 

56% 69* 

Sto X* USM9 

84* 66% U W k tf , 

U 

48 34 

39% 3T% 

25 2Bto 
31 25 

71 1M 
32% 17* 

23% 16* 




U U 222 48* S* 


72 


2 33% Bto 
15 10 12to 

23 16 3311 83% 

« * sir 

A l> .61 
23* 7.1 


22* 14* SanVols _ 

48% 30% SteMU 58 
17to 12 Swa>* 58 

SSJ&gSgfS 

16% ID* SvTOjQo 
88* 66% Syntax 192 

rStoiSS- 46 
50* 30* TDK 3te 

36* 27% TECO 
12* 7 TGIF 
21* 13* TOP US 67 9 

28% 19% THE. U8 34 27 

87% 52% TafiSrd 1.16 U 15 

21 % 12* Toner joe 15 16 

ZJ% is TofleypflJa 6j 
87% 56% Tambnl 250 39 IS 

38* 23% Tandy If 1X8 

15to ' 12* Tndycfy 1 5 90 

68% 47* Tektnur UB- U16 T168 


5% 2 * Takxira 
281*227 TeMyn 
34 12* Tehata 



S6to 31 Telex 
31* Te 


10 

24 21 XU tflk Mto lSto— % 
32 1411 57*-56%,57K +|. ; 
14 IT 534 41to 41 - . 41% + Ik- 
74 14 3016 X* 39* 40% + % 




h 


M- 


JO 7.1 


19 
12 17 
35 


25 14 
5 


X 21 11 
144 22 f 


... i 

75 

IJ 

M X 
2 

U 18 


94 

29 U 

30 10 
AI 7 


40 


33% 21% RttaAKT 
7* 2% RvrOkn 
Wto 28% Rotator 730 
61* 19% Rafatin 1301 
X* 5% viRoWra 
26* 18* ReettG 230 
62% 31% RneftTI 266 


^ 5* Sto 5* + % 
222 15V. 14* 15 + % 

11 18 IS 18 + to 

16 14% 16* 1<%— to 
210 12 * 12 12 * + * 
217 9% 9% 9* + Vk 

16 11* 11* IT*— M 
287 * S to. 

183 X 31 32 +1 

2030 9* 9 9 —to 

IS MS lto lto 
275 9% 9 9to 
294 51* 51% 51* +* 
3 77* 27% 27% —4% 
137 3Vto 30* JO*- * 
23 27* 27 27 — * 

122 Sto 25 25%— to 

’IU 27 26% 36* + to 

m TO 12 12 * 

75 57* 57% 57% 

A S 4 * »to 26* + to 

47 99% 99% 99* . 

M 26% 24,. 24% + * 
3X0 W . 14* 16* + * 

•as +% 

IS 112*112% 112* + to. 
4X4 130* IX 130% 

488 35% 34* 34*— to 
1 35- 75 75 

419 Zf 27 27 


28* 18 

41* 29 

73 55* RotwnH 


fldvCtr n T74 95 642 

Redwrt 1.12 jj 9 3397 


2.1 15 1*41 24% 22*. 26- — to 
X 52 1 2* 3 

33 « 115 K* 35% &jk + * 

114 23 22* 32* + % 

• . ix ii% 11 nS+to 

94 6. 357 22* 22* 22* + to 
65 9 149 37* 36% 37% +* 


18* Tito 18* 

-- 36* 35* 36* + * 
504 70% 69% 70* + * 


41% X* Tempi n 46 
6SK 33 % Teonco SUM „ 

105V. 94Vk Tencnr 1U0 104 
W. 72% Ttncpr 750 87= 

32% 17% Terdyn -17 
15 ■toTeeara 50 X7; . jbj 
27% 20% Teeerpf XM 95,. ; 4 

40* 31 to Texaco 3JO W^1112S58„ ___ . .. . ... 

37% 25% TxARc 157 U 1 77 |0k »% 25*—% 

25* TexCal 1J6 A7- 7 Xt..27% 5* 27% + * 

TexEet 230 65 I 978 34*, 34% 34% + to 

_ Text ad JOB 27. n 53 30* X X —to 
MW Tnxlrat 2J0 UH90 500 lS.- 102* 182* + *t 

«% I Texlnt • ■ 2801 4* 6 Oh . : 

21% 14% TexOGe J8 t2-» 13*51 IMk TS* Wto 4 to. 

34* 28* TxPoc 50 B 23 J3 3B* Xto 3al : . 

11* 25% Texltm 252 87 7 

6* 2. Texflln • . . 

58* 31 Ttortron IX M 9 
45 34% Textrpt 2X 34 

11% 4% Thock .-292 

23 10 ThrmEs . 24 

<3* 38% ThrnBet U6 34 10 
.X - 15% Thom In 4X25 .11 
18% 11* ThmMed 50 U 12 

34% 10% Thrifty X 24 14 

24 17V. TKtwtr 90 .19 \ 

10% 9% Tlperln . • 

6T* 40 Time IX 

2J* 14* Ttmohc . 18 2M 20% 28* 30* — 

38% 30 THneM l J6 - 27 1J 627 50* 69* 50 — 

5flk 41* Timken 140a 4J 57 236 45% 44_ 46% + 

9% 4* THdn 2077 9to 8* JT 

11 * 8% ntanpf IX .87 22 ITto'-infi nto + .. , 

39% 26% TadShp lS -44 15 150 79 - 21% 29 + IS 1 j 

71% 15* Taktim »-4f 24 11 62 17% T7to J7to— %. 1 
Zlto M% TWEdla 157:117 6 427 31% 28*21* 

29* 24% TaiEdef.XH.ttF -.' 6 29 . 20* 28*' 

30* 35 TelEdef aj£-12J 11 79 28* 29 — J 

JM OK TolEdpf 10.77J 1 27* 27* 

33* 21* Tol Ed pf 436 1X1 27 33% 32* 

20* 16% ToiEd pf-236 12J 6 19* 19% 

IS* 15% Tol Ed pf 221 122 18. 18% 17* iK 

30 9% Toakos - TO a 6 1131 29 . 27* 28*; 

81* X- TeoHM 1 f Xb 9 M -11 56 ' 55>^= Si 
36* 16% Trrtxnec JB 25 11 1U0 34% -36 -. 

U* 11%’ToroCo ,^50 23 n 600 19%, W* 

5 . 1 Tacco .... 578. 3*- .3* 

16% 'Sto.Tawli ■ 47 8%-. 8 


W g%X 5B% + ^ 

IJ 2 3 % .am 22 + 1 * 
339 Xto 2% 38% +* 
tt 1Mb 19% 19* + to , 

m ygk: m* 34% +•%-! 

127 23%, 22* 23% . , r 

ZP l»— to 

_ 784 7* 7* 7*— % 

17 17 2ta4 59% » , 59* + % 



rUto Sb + * 


3% 3to 

w! ^to-5 

JU X — ta 






* 

1- TV. + 16 
6Jto-62 42% — Vk 

36 + to 

22 -to 

* 27 27 —to 

n* m 


21 % 21 *- % 
Sto 22 * 22 *- « 



n* Tito, _ 

24% 34* JR 

a* a* f 

x asto+to 

6% 6* 4%-* 
16 13* u«- % 

27 2716 

■Sih- if* S81S 

* 

U* 17*— % 
51% 57 +% 
x + to 
•lto -I* 




29% 29** M 
27* 27*— to 
34% 34*+ to 
*ft 

39% 39X + to 
M Sftj to 

ns nS x* 21 %+*% 

47* 46* 67%+* 
36 ; 31% 33* + to 
25* . ^6— to 


^ 6 * 4 Jk 4 %— ill 

I 

69 57* 



‘-+* 


37 37* + * 

314 63*^6 4W +1% 
122- 34 23% 23*+ to 


gl*, T7% 17^6 17* + % 



9to 3% Towle pf --4* 105- - 23 4K- 8* 

41% 25% ToyRUlC: S X& 37% 37-- 

28% 16 Truer x; y-32 17 O 283 19% m 


15% MMTrafnTR^. 

23 8* TWA I? 

U ?3% TWA pf.J ZJS 1547 
34 -36* TrorWR^lX 54 16- 

22% 11% TrantaC^lX 1X4 
57% 46 - TraMCK'UtriU-D 
66% S3 Trascpf 3J7 62 
53 52 TnwcpfeATS U., : 

34* 19% TranExrXX l?5r 
n% 5* Traram- t? 1 

182 MW TrGpt 1BJ2 UX 
- TrGPPf 844 9JF 


£ ^ Jk 

41 » 71* " 


•5% 


13* 8% TmeOft- 
47% 29% TraWy J 
63% a% TrmricT -1 
25% 12% TWfdwtA 




Sf.S 


19* .15* TWMpf 
T ra w l er ■ 


69% 36% Trawler ZM. ^JTI 2871 
Stto 50to Trwef 4.16 ~TS 5T 
28% 22% THCerr 35MW 335 
30 22% TrtOkPf 2 55-90 ■ _ _« 

32% 7* Trtefnk 

37 23 TrtaPc 

54 Jl* TrOonR 


6* 4 Trtart" 

7% 5* TrfcSO - 

17% 12% TrlntY 
35% 16* TrltEns 
63* 31% TuciEP 

18* 9* Tuttex 

20% 16 TwinOl 
4t% 30 TyeoLb 
17* 12* Tylers 
59% 39% UAL 


diN 
«■ • 




23 * + *. 
« . +1 

43% + * 

mm* — 

T-iJk’ 

_ „ '-¥k- , 

T3 2I*- 23% 23* + % 

• 632,. 7*£ m 2W— to 

^ SI 28% 30% + to 

atsAftixtoiMv* % 

1941 W* 14 14Vfc-* 

13, 44 63% 64.+ S 

3 165%: 65% Sit- * 
i'.- 127 7* .TVk 7W — to 

. , 323. WK.UV U-J-to 
- T 4V 61- 4K* - 

I .' _3J TSto H ' lMu+ * 
14. . 3082 44* 65% 65*1- % 
IX 9» 47* 40* 41.-?+% 
_,J9-6W 31 2*34 31- r+lto 

Xt 65 42* 61% 42*.+ * 

»?•■■ 41: a 49* 49V- , 

•+ - 28z 2D -» 20^— to 

<2 » 1159 47% 66% 47%,+ % 
150 65' 338 34% 33% 34% + * 

St iS Sh* % . 

47. J3K- 13% 13%.. - iJ 

.7 13% 13% 13% J* 

Ml U 12% 73 ;+ * 

306 29% 28* 28*%- % 

__ 3% gj ,5V«-to 

IT- ra 6 5* '6 




■jm.- 




trim . 


-m-WBlocO •XViX, 5 





■aa-s8sg» ¥? 

■MtotorarazM 74 

34 .W 


stasis 

870 39 JW 38%;+* 



-tav 


— . - -in '34 TX 2530 X% 37% 5Jvy--HW 
. 8 82% 81* 82%HH* 

aasM*ls& i Bfi.£.®£ 

XX 54 20 4662 «f- 58Vk 60"- ~H% 


'a 


20% 

M7% -TKZapoia 
iJltoVJT* ZoVrrt 
16* ZentttiE 
21* 1516 Zero i. 
41^ .3^6 Zumlri ; 


77+ 73 

41 23 


1146 56* 


64 25i 




2 'i* 


64 29% 28* '29% . . 

„ ,25 ** .9* 9%-A. Vk 
919 ’S Wife f&ll* 

li V H mftto 

UI XJ 15 122 40% x% 39%^ 

' • - r . ■& ' 




2?^^ 
575 13* 13% 
167 SOM'SF* 
143 




NlWHMia ia 


_ 3l%- If: 

346.*% 47* '47* 

13*_ 13% 

2X3 67% 48*i 





. jpmt 

V » 2 2 _ 

13T n|to ra +1* 

57 37%.;+*: 

Ttorl*^. 

X* 20% —Jk 



34% 

Eh 
11% 

18 - ... 

39* 2SK.USFG J23B 59 
66%. 38* USGs ;iJ» 3J 7 
02 68% USGpf . JX U • 

19* 12* UnlPf*t., X -p 14 
03% 86* UrriHV^ OOe 12 13 
41* 33% U Croft 14< 43 16 
64% 33* UnCortF 
7% -8* Untatfii,. . - . , _ 

71* Uto UnCl^TX U .7 
am. imeipFcoo il» 

48' . 31% UniKpgAjD TUv 

ttS B* 1 U^pk. IX 1 

X 21* unapt -MB 1BJ- 

ao% :ii%ungftf zi3iU’ - . m it* 19 * 

68.x un5pf ,754 V1F ’ 90* 68 66 4« v. 

X 56% UCHrfH . - . JlteTO <8 -48 -— * 

« 21* Un8>»n _5l8 lJ- ^ 21* H* il*— % 

52* 37% UhPOC 148 36 Q.lMkM 49* 50%-+ *,. 
115%~87* UnPcpt 7X *5 '. .ft® IWftllBfW 

&'%%£&■ ** ** " ‘ 


gw? 

Aoieran 

tsssr: 

K5W 

Q^fXof 

oerEtpre 

ic*" 


K 



m- im-vr 



Ali-ProR 

.•saSE^ 

•WSR- 

aa«' 

Contiinfe 

OfBierwt 

JBPwllBp: 

KtaWfP 

Uicfcvsier . 

Merck Co- 


«£19aef I 

\&B 

las- 1 ; - 

UnDewrW 


OET 

- grtmeMou - 

ftavninsre 

SSK*" 


Sail 

19% UtoOJMuer £20 175 
31* 26% UlltaPf 4X1X9 
16*. 11* uillUPf L90- T3J 
25 15*UnStnd MU 



jw yahia 

Tam br nex 


amhrand- . 

S«f- ; 

.Vara n,, ; 


290 174- ' .*788r19 


ufmir «: 






talp BradvHtf 

ftoaip . ' 



Omiiiinv 

ssErr- 

WlichlrabH 



,T- < «-!■ Vf’&tfr 




k.e- 


: ¥Sy4 













£*«*uns 




l h J Stocks* 
S Jo Climb 

1%?** '** *?*' : 

*** ass g 
^2*^4 6ws- 

s^sse: 

j* 'f* 1 '■*»« 

r ^^fcjSrwa*: £ : 

L?/*** ''j- 

f *mt ■ 

w f« ** -»«" 

; •;• 'SK.49.s1e '.t?*- 

2**'* . 

1% zm -m^y, py,-* 



SriStaL.*” ^* Wn » *wi» Ml 

r2S^ ?!r I s * ,n ** m » «*» p.o 
££?2“* ?-»• *y-ww 

e ^*W*WO P.13 OMte • p.„ 

o' 14 P-17 

ptutd * na » P-M Otttr mortem r.u 


licralb^SriFim^ 


.;^..r^%iut: 

‘W 1 

■-■ ■.». !'^2« 

•■■*<■; ‘ Ai cmoc 
• : ■;■ %£&*? 
taan 


yH URSDAY» NOVEMBER 28 , 1985 

WAUSTMCT WATCH 

t Investors’ Fears Keep 
Stocks Climbing the Wall 


• WJX. 


k *~i 

■•c 



: ■H-. 
. "*l 

■*%? 


■ jfiC* 


ftmfc. ’ • y'.': 


.. “ TV.-. A 

•■ -v, ...... :^.. 


■ 7i dw . 


-**;>*>- 
1 <"• - l >-, t 

;^N 5 r 

. . - J3*s * 


"There’s still along 
way to go for this 
raDy,” according to 
Mr.Kersdmer. 


*» *Mi 

-» «K 


could rise another 100 to 150 
points on the Dow average be- 
fore totting any other Idnd of a 
waH 

“Pullbacks of 5 , 10 even 15 
r, . percent are not uncommon in 
w-T> bull markets,” he said “They 
■*-'- m- — don’t go straight-up. They’re a ■ 

series of higher highs.” 

This was the case in the last great buD market, from 1950 to 
1966, when stocks soared 400 percent, he recalled, noting that 
what powered Wall Street ahead then was a three-fold g^wv jjj 
price/earmngs ratios the market accorded stocks. 

“Corporate e arnin g s themselves remained fairly flat up only 2 
or 3 percent a year over that period,” he said. “From 1966 until 
1980, an era of high i n flati o n when company profits were tripling, 
the stock market did nothing, actually losmg 27 percent.” 

What this proves, Mr. Kerschner said, is that P/ Es are far more 
important than earnings to Wall Street That’s why he Ekes the 
market now: lower interest rates and disinflation promise to drive 
p/Fs higher 

| “Even as long as rates remain where they are, and we think they 

! Z : will through the rest of the year, there’s still a long way to go for 
this rally. ” 




*>; - 


■ m tut jjluui o uj i 

I.. ... . .- •’• * ‘ -«-F Kerschner says she 

^ L't®*. I dence, are investors still s 
•s , 'Cfcst»^j c '‘ * [ “Today the worry is i 
* '• federal budget deficit reii 

■ - LDC loans — orecisdv 


i UT why, despite this current period of rising P/Es, which 
.are up from 8 to 11 in the present rally, and which Mr. 
Kerschner says should produce widespread public confi- 
= so cautious? 

about ‘ unp recedented problems’ of a 
federal budget deficit r einflati on, deflatirm consumer credit »nd 
- LDC loans — precisely the risks that create opportunity,” he 
.\ #;*-», t __3- -.«■ said: “By frightening investors, these problems have kept stock 
• b Cr’tirl ■ ’ *" prices ^historically modest valuations.” 

- c . _ Bull markets end in complacency - — “that’s when they slide off 

the cliff,” he said. Therefore, “when the risks are gone, so 
. probably win be the bull.” 

'*u :: ’ Stocks currently topping his recommended list are Bristol- 

*!■ ; : Myers, Chase Manhattan, Citicorp, General Electric, IBM. N*« 
’ — tional Medical Enterprises and Pfizer. 

;= «■ : “Hus bull market has kissed a lot of girls,” Mr. Kerschner said. 
-,t ' “But you have to buy stock-by-stock. Groups don’t work. Not 
% long ago General Motors was touching a new low while Chrysler 

■ was hitting a new high.” 

Burton Siegel, chief investment officer at Dread Burnham, 

■ agrees. “Stock selection remains the most critical dement in 
portfolio strategy,” he said. 

Of particular appeal now are the large capitalization technol- 
ogy stocks, he sm<L “Valuation analysis shows that this sector 
i] ‘ r ,l . offer? favourable expected w^urns and,' increasingly/ the possibiU-: 
S ^7 ; ty- of Up^Mrevi#6 n* estimates.” r v' : \ w . j: 

* • g, ~ • IBM, BurroQghs and Ihfd’aie.'on DrcxeTs prkoity sdectirm 
list, whileDi^tal Equipment and NCR are rated just behind 
But many stocks, be warned, are risky investments at current 
(Continued oo Page 17, CoL 1) 


.- * * .. ftM. F*.- 'ILL. OMr. 

2Mf Am mss* MM* AUM- 

JUB JS3CS 3A232S AM 1MB- tZJX 

2j« ins ■— J2JC7 unsx «s»e- 

um — - 17* n /an uiuo *ma 

uzus uaus asm . m»' ' — tom 

Yorttta um« 1M0 7JB VZtM UU5 


IAMB AMD* 177*44 USUf 1 J77JD 3.13H M-TO4 23n 7117*4 

_ In London ana ZurieA. Gxttvn In attxtr Eurovan ertftorz. Nttw Yort: mta of 2 PI*. 

, * M Cotnmercty franc (bi Amounts nmO mf to bw on* eoutid(c) Amounts nu da d to buy an* 

..g “Otortorf*; Units of WO M Unit* of 1JOO (r) Units of 10000 Mfl. : not «wo7*rt,- HJU not cvoSoftte. 
' * f; SUSXMO 



Currency Rties 


UMSx 

2W TIM- . »J0 
21*3* ABU- 13M 
17334 UftLC X4W 


Hoi. 27 
IF. IF. Yt« 
SIM- T3US* T417S r 
XOl -SM5* 

«4J ■ nun- i js 75- 

71825 UK) 3MB 
3143 DU) 1575 
SU6 lam 3MB 


IBM liasr* 


37 » 11*37* 

3MJ3* KM 

UB7* U4U" 

4*799 Ulh 17013 


CDiTMcr HT USA 
S512S 
moo 
HMUail 779*5 
njun 
i.izun 
IrU* 01347 


PNLl 


p USA currmcr Hr USA 

4MJM SoMdraM* 07719 

FASTS mapam W77S 

1000 SarHLhraaa 7A9S 

MOOO ToMil 39X1 

3ASDV TlM) OHt l*n« 

Stall 20905 TMAWiltax SS770 

AAfr.raH 25974 UAEMrAm X4725 

S.K0T.WM MA29 VmLballv. 1570 


7 ’x"- •; ■*&»* (No** YOrk); Baot/ue Nottonatwd* Porto t Parts): Sank ot Tokyo (Tokyo): IMF (SO ft); 

’ *BAJI ItStaar, rtraL dirtnm); Gozbank fnMl Otttor data from RoatorsaadAP. 

■ ■ 


SttHilav 
MW 11 K-ll «. 
39ba%» nvi-mk 
3M-4 llb-IHk 

SWA 1TW-UW 

4M«> ITMllk 


ECU SDK 
9KAW 71* 
MAAM 7 *. 
IMS 7*fc 
IMM 7 %w 
■ MS 79 % 


IMS 
• MW 
IM*. 

IMh 49W4YL 
^ .1 (NT t,r^t tv 4M 
rl -^Sourest: MoCaar Guaranty t dollar, i DM,SF. Pound. PP): Uoyds Bank (ECU); Ro u ters 
5i . (Sap). Rata* apt* team* to tntorbenk titr>oslt* of SI mtttton ntkt/rmm (or oautmkmtL 
■„r ■ Dollar. ECU end SDR rotes os ot Nou. 37i other rates as of Noe. M. 

Aoima P o flir P e yoo ln 

Abu 27 

laoan AW-0-W 

-2MMth» 8H.-BW 

liMrfta Aw-Ow 

* months SK-Ow 

1 v*ar 0W-S«w . 

Source: Routers. 


Cion 

Prw, 

71* 

7Vt 

TV. 

711/M 

■ 9*1 

*Wr 

. 9 

9 

' 7 J 0 

7 JO 

7.19 

730 

1 M 

757 

7 JO 

7 JO 

7 St 

7J0 

5 JS 

» 

NA 

4J0 



4*3 



4J5 

— 

490 


• ■ 

H 

» ' 


K 

n 

m. 

Mi 

OH 


P-S. Bi owy Market Faad* 

Nov. 27 

Starts H Lvaefe lUodv Aoati 

ivtaU: 7A9 


TMnda iDtnr RohliHc 77U 
Souree: MarrOt Lmtfc Tolerate i 


* 13/1* 013/U 


- mb V1V* 
■ in*, in* 
t) 3/32 TIVB 

U7/M 11 MM 



Noe. 27 


AAA PA*. 

SOUS 3RL40 —0*0 

— U0 
-109 
“*ao 
-119 
— SJ 9 

Uutombom Pp^e er^ London eltkSal tto- 
hots none Ken* one Zurich opening and 
Oostng ericas; Haw Yon Conwx currant 
contract All prices m t/j. spot puna. 
Source: Routers. 


Porta tUSUte) 33274 
ftrtch 33UD 33L4B 

Lontfia 33145 32515 

Hew York .. — 32559 


BUSINESS /FINANCE 


ByEDWABD R0HRBACH 

International Herald Tribute 

*^IS — Why. is the stock market going up, up? ffimnV- 
Bccause most people don’t believe it will — ca should, 
^odc^ their own mysterious, mischievous way are 
Qimbmg that proverbial “Wan of Worry,” 
a MvSr.- paces reaching new highs. Wall Street is stfll Ml of 

OvL and mtertamEy,*’ said Edward M-TCetschner, chairmaTi of 

* Pa®* Webber’s mvestmeat ptdicy committee. 

“ ^?*i e rem ® n skittish, if not sullen,” he said. “But all bull 

™ a Ht le *s have climbed a watL of worry:. It is very uncertainty 

r^. that creates opportunity. And the stock market skepticism today 
~i- v ' Jf daractenstic of the eariy, not the late, phaseof a long-tenn 
-nTC. bull market.” • 

: rri W -Y^' Describing the current rally as a “cyclical nplec in a secular 
- bull market,” he thiw^ it 


bones: Reuters. OamiimHrtb Cridtt 
\Uftmahj Bank of Tokyo.. 

m ; . ' 

Markets Closed 

»Fuianrifll mbtortswiH be dosed in the United Stares Thursday because 
iOf ti holiday. 


Veba Says 
Net Profit 
Rose 19% 

Predicts Record 

Result for Year 

Reuters 

DUSSELDORF — Vda AG. 
the West German energy, chemi- 
cals and trading concern, reported 
Wednesday that provisional world 
group consolidated net profit in the 
first nine months of 19&5 was 387 
million Deutsche marks ($151 mil- 
lion), up 19 percent freon 325 mil- 
Hoo DM. 

World group pretax profit was 

I. 19 bOUoa DM, up from 995 mil- 
lion. World group third-party reve- 
nue was 3635 billion DM, against* 
35.06 MEon. 

Veba iscertain of posting record 
profit this year, even with a month 
to go, and will pay at least a 9 DM 
dividend, the same as for last year, 
the chairman. Rudolf von Bennig- 
sen-F&rder said. 

In 1984, Veba posted a consoli- 
dated net profit of 583.7 million 
DM, while nonconsofidaied world 
group -net was 696.9 m2Eon on 
thud-parry revenue of 49.73 bil- 
lion. 

Mr. Bennigsen-F&rder said the 
nine-month profit rise was the re- 
sult largely erf chemical and oil op- 
erations. 

Oil revenue rose 14 percent to 

II. 4 billion DM, while chemicals 
rose 92 percent to 4.4 billion. 

The chairman said results of the 
two divisions had improved but 
gave no figures. 

Electricity operations had shown 
good results in the first nine 
months despite added depreciation 
costs resulting from a new nuclear 
power plant, he said. 

Electricity sales rose OJ percent 
to 50.8 billion kilowatt hours in the 
first nine mouths of 1985 compared 
with the same 1984 period. 

Veba’s wholly-owned Hurts AG 
chemical subsidiary posted im- 
proved results in the first nine 
months and increased capacity use 
to 85 percent from 81 percent a 
year ago, he said. 

In the 03 division, which re- 
turned to profit in 1984, refinery 
capacity use rose to 87 percent 
from 80 percent in the first nine 
months. 

In reply to questions on acquisi- 
tion plans, he said he could imagine 
something happening ’in the areas . 
■of chamois or trade bat gp/e no 

df-TaiU 

He said Veba and the Venezue- 
lan company, Petroleos de Venezu- 
ela SA, were awaiting approval 
from the authorities in Venezuela 
before expanding cooperation in 
heavy crude ofl refining. • 

The expanded cooperation could 
take the form of Petroleos de Vene- 
zuela taking ova half of Veba's 25- 
percent stake in a refinery in Neus- 
tadl and half its 333-percent stake 
in a Karlsruhe refinery, Mr. Ben- 
nigsen-Farder said. 

He attributed the sharp rise in 
fixed-asset investment to 135 bil- 
lion DM in the first nine months 
from 134 billion in the same 1984 
period to increased expenditure on 
nuclear power plants, oil explora- 
tion and chemicals production. 



• Tt* Nm York Tm 

Joan Cooney, Orildren’s Television Workshop president, and some CTW produ cts. 

Doing Business While Doing Good 

U.S. Nonprofits Generate Revenues in New Ways 


By William Meyers 

New York Tima Service 

NEW YORK — Big Bird and his fuzzy friends 
have become big business at the Children’s Televi- 
sion Workshop. It's a good thing, too. Revenues 
from licensing and other commercial ventures tied 
to Sesame Street's popular c ast o f characters cov- 
ered almost 70 percent of CTW' s expenses last 
ye ar. 

CTW is hardly alone in trying to generate new 
revenue through hs own devices. Faced with Rea- 
gan administration budget cuts and a change in the 
tax treatment of charitable donations, UjS. non- 
profit concerns are malting an unprecedented for- 
ay into the often shunned and unfamiliar world of 
commerce. 

Tbe Bank Street College of Education in New 
York now sells what one distributor calls the best- 
selling piece of educational computer software in 
American schools. The Red Cross started selling 
first-aid kits through its chapters earlier thi* 
month. The New York -area public television sta- 
tion, WNET, has moved a step closer to accepting 
advertising. And Planned Parenthood tried to mar- 
ket condoms until its affiliates quashed the idea. 

“This is a new era for nonprofits,” says Sandra 
Giymes, director of marketing for the Planned 
Parenthood Federation of America. “Thev can't 


depend on public funds to survive; they’ve got to 
mm to their own resources.” 

Ben Shiite, corporate secretary of the Rockefel- 
ler Brothers Fund, added: “There are strong pres- 
sures on nonprofit organizations. They can't af- 
ford to let their assets underperform anymore ” 

Indeed, with mixed feelings — and results — 
nonprofits are in hot pursuit of funds. The federal 
government cut aid to these organizations by 20 
percent between 1981 and 1984 — S123 billion in 
all — and private contributions from individuals, 
foundations and corporations came nowhere near 
making up tbe shortfall Now there is an added 
threat from Washington. Tax reformers are debat- 
ing whether to reduce, for some taxpayers, tbe 
incentives far charitable giving — and that could 
cut further into nonprofits’ revenues. 

“We would prefer to be a purely educational 
institution,” said Joan Ganz Cooney, co-founder 
and president of the Children's Television Work- 
shop. “but that’s a way to die.” Added John Jay 
lsdtn, WNETs president: “We’ve got to move 
into the new frontier of enterprise or risk losing 
ground.” 

But there are risks of another sort as nonprofits 
try to become capitalists with a conscience. One 
danger is that the organizations may alienate con- 
( Continued on Page 15, CoL 5) 


U.S. Says Gap 
In Trade Shrank 
To $11.5 Billion 


By Martin Crucsinger 

The AaMiMed Press 

WASHINGTON — The U.S. 
merchandise-trade deficit nar- 
rowed to SI 13 billion last month, 
sharply narrower than the record in 
September, tbe government report- 
ed Wednesday. 

The October improvement came 

from a 13.4-percem drop in im- 
ports, down from a record S33.3 
billion in September to S28.8 bil- 
lion last month. That drop was at- 
tributed to a sharp 30.4-percent fall 
in car imports. 

But U3. exports, meanwhile, 
continued to languish, falling 2.1 
percent last month, to SI 7.4 billion, 
the lowest monthly level since Feb- 
ruary 1984. 

U3. manufacturers have been 
hurt all year by the strength of the 
dollar, which makes their products 
more expensive and thus more dif- 
ficult to sell on foreign markets and 
attracts a flood of cheaper imports 
to the United States. 

Although the value of the dollar 
has fallen somewhat in relation to 
other currencies, analysts have said 
that it would need to drop by 20 
percent more against a basket of 
major currencies before substantial 
improvement shows up in the 
country’s trade picture. 

The merchandise-trade deficit 
for the first 10 months of the year 
totaled 51 18.1 billion, 11 percent 
wider than the year-earlier period. 
For tbe year, the deficit was expect- 
ed by government officials to reach 
S150 billion, compared with last 
year’s record of 5123.3 billion. 

Beryl A. Sprinkd, the chairman 
of the President’s Council of Eco- 
nomic Advisers, predicted this 
week that the deficit for 1986 
would be even larger than the 1985 
figure despite the fact that the dol- 


lar has been falling for most of this 
year. 

He said that the immediate effect 
of a lower dollar would be to make 
imports more expensive and thus 
make the deficit worse. Eventually, 
the weaker dollar would cut the 
volume of imports and the trade 
deficit, but this improvement 
would not start to be felt until after 
mid-1986, Mr. Sprinkd said. 

The country's disastrous trading 
performance has led to growing 
pressure in Congress for passage of 
protectionist legislation to aid do- 
mestic manufacturers, who have 
been forced to lay off 270,000 
workezs since the beginning of the 
year because of slumping demand. 

The improvement in Lhe October 
deficit came although oil imports 
rose 2.4 percent last month, to a 
new total of S3 billion. 

This rise was more than offset by 
the steep drop in car imports, 
which fell from an unusually high 
level of 54 billion in September to 
52.8 billion in October. Car im- 
ports from Japan Tell 442 percent, 
to SI. I billion. 

Mirroring this big decrease, the 
U.S. merchandise- trade deficit 
with Japan narrowed to S3.2 billion 
in October, from a record S5.1- 
billion deficit in September. This 
was still the largest U3. deficit 
with any country. 

The slight rise in the value of oil 
imports came as imports averaged 
5.5 million barrels a day last 
month, down from 5.7 million bar- 
rels a day in September. The price, 
however, rose to an average 526.88 
per barrel, up from S26.62 in Sep- 
tember, 

On the export side. U.S. agricul- 
tural sales rose 5.1 percent in Octo- 
ber. to $236 billion. However, ex- 
ports of manufactured goods 
declined almost 3 percent, to SI 1.8 
billion. 


French Right Approves Denationalization Plan 


By Axel Krause 

fmema tional HeroU Tribune 

PARIS — France's leading con- 
servative opposition parties have 
approved draft legislation that 
would allow denationalization over 
five years of state-con trolled banks, 
insurance, industrial and commu- 
nication companies, a key opposi- 
tion economic strategist said 
Wednesday. 

Rejecting recent government 
warnings about the danger of for- 
eign takeovers in such a plan, Alain 
Juppfc, said that his neo-GauIlist 
Rally for the Republic party (RPR) 
and the Union for French Democ- 
racy party (UDF) had agreed to 
present the denationalization plan 
to the new National Assembly in 
April 

Parliamentary elections are 
scheduled for March 16 and most 
polls indicate that tbe Socialist par- 
ty wBl lose the majority it won in 
1981. 

The draft Nil, which anticipates 
a conservative victory, would au- 
thorize the new government to 


name a “minister for denational- 
ization” responsible for imple- 
menting tbe program. The govern- 
ment also would establish a 
consultative denationalization 
commission, said Mr. Juppe, a dep- 
uty mayor of Paris and economic 
advisor to Jacques Chirac, the RPR 
leader and mayor of Paris. Mr. 
Chirac is widely regarded as a 
strong choice for prime minister 
should a conservative government 
be elected. 

Another draft bill being pre- 
pared by the conservative leaders 
would grant greater autonomy to 
the Bank of France; a move being 
actively supported by former Presi- 
dent Valrty Giscard d’Estaing. 
leader of ihe UDF. The proposal 
would establish a central bank 
closely resembling the Bundesbank 
in West Germany and the Federal 
Reserve Bank in the United States. 

“Our goal is to implement re- 
forms that would make the French 
economy more like other industri- 
alized countries, which means re- 
ducing the role of the state," Mr. 
Jupp6 said. He noted that the gov- 


ernor of France’s central bank, un- 
like the chairman of the U.S. Fed- 
eral Reserve Board, serves an 
indefinite term at the discretion of 
the government 

Edith Cresson, minkter of indus- 
try. asserted last week that rapid 
denationalization could lead to for- 
eign interests taking control of 
large portions of French industry. 

“She is wrong," Mr. Juppi re- 
sponded. “because our plan is 
pragmatic” and would limit foreign 
investments to 20 percent of dena- 
tionalized companies or banks. 
Any newly elected conservative 
government also will apply that 
rule to non-French companies 
based in the European Communi- 
ty, he added. 

French government approval 
now is required for foreign invest- 
ment exceeds 20 percent, but only 
for investors outside the EC, ac- 
cording to an aide to Mrs. Cresson. 

Mr. Jupp£ declined to identify 
the companies and banks targeted 
for immediate denationalization 
under the plan. And be emphasized 
that implementation will depend 


on a key factor: the amount gener- 
ated by selling off denationalized 
interests in French financial mar- 
kets. He estimated that that total 
would not exceed 10 billion to 15 
billion French francs ($1.28 billion 
to S1.92 billion) annually, Miich 
some observers have termed a con- 
servative estimate. 

The conservatives intend over 
five years to sell back to private 
investors the banks and insurance 
nationalized following World War 
II; five industrial companies na- 
tionalized by the Socialists in 1982, 
and at least two state-owned com- 
munications companies. Mr. Jupp6 
identified those as the Havas ad- 
vertising agency and Soflrad, which 
own substantial shares in radio sta- 
tions Europe 1 and Radio Monte 
Carlo. 

The plan, Mr. Juppe empha- 
sized. would be accompanied by a 
major reform program that also 
would provide for new tax incen- 
tives aimed at lifting price controls 
and stimulating investor interest in 
tbe Paris Bourse. He declined to 
comment on whether or not tbe 



Mamie Law vs. Western Banks: A Conflict of Interest Payments 


Bob Hagerty 

International Herald Tribune 

RIYADH — Evening prayers 
have ended, and lawyers are gath- 
ering in a small beige office to ar- 
gue about money. 

As an air conditioner rattles, 
proceedings begin in the office that 
booses the Ctmunexce Ministry's 
commercial paper committee, a 
court for banking dispaies, where a 
Saudi lawyer is defending a m»H 
construction company against a 
bank’s demand for debt payments 
of 7 million riyals ($13 ntilfion). 

. The judge wraps Hs worry beads 
around his left thumb ana scolds 
tbe lawyer for months of delay. 
After half an hour of shouting and 
gesticulating, the lawyer calms 

client w^frepay 43 nnflicsfnyals; 
the rest is in torsi, and interest is 
contrary to Islamic law. 

The judge approves this plan, 
assuming that the lawyer can prove 
the interest element at the next 
court session. 

According to Islamic law, justice 
is being done. According to West- 
ern bankers, an outrage is bong 
committed. 

The contradiction between 
bidding a Western -style economy 
and enforcing the laws of Islam is a 

problem that Saudi Arabia’s ruling 
family has struggled with for de- 
cades. But only recently, with the 

onset of recession brought on by 
the worldwide ofl glut, has Islamic 
law emerged as a big worry for 
bankers. 

Many bankers say their court- 
room losses are making them much 
less w itling to lend to Saudi busi- 
nessmen —just when the govern- 
ment is asking private banks and 
companies to take a larger role in 
building up the economy. “It’s hard 
to see how banks can take up the 
running when the normal haniring 
rules are bong abused,” said the 
European chief executive of a bank 
based in Riyadh. 

Moreover, while many business- 
men who borrowed on Western 


terms are honoring their comntii- 
ments, those who refuse to do so 
are hurting tbe credit rating of the 
kingdom as a whole, some Western 
bankers say. 

In many ways, the foreign bank- 
ers have themselves to blame. 
Many have long recognized that, as 
one put it, “the legal system is not 
designed to cope with people like 
ns.” 

During the oil boom of the 
1970s, Mien everyone was making 
fat profits, that did not seem to 
matter. Bankers lunged at the 
chance to lend to Saudis, especially 
those from princely or otherwise 
prominent families, anrf in many 
cases few questions were asked 
about how the money would be 
used. 

A British banker who arrived af- 
ter the boom shrugged and gave a 
simple explanation: “The banks 
were bloody stupid." 

Now that the recession is squeez- 
ing finances, more and more bor- 
rowers — including some who were 
thought to be of the highest stand- 
ing — are demanding delays in 
debt payments, refusing to pay in- 
terest or defaulting altogether. Sau- 
di Arabia-based tanks are left with 
a heavy load of bad ot doubtful 
debts, roughly estimated by some 
bankers to total the equivalent of 
$3 billion to S5 billion. 

This turn of events has forced 
Western bankers to focus on what 
they regard as serious flaws in the 
legal system; the borrowers’ ability 
to create long delays, the shortage 

or judges conversant in modem 
commerce, and the difficulty of en- 
forcing court judgments. Because 
precedent counts for little in the 
Saudi legal system, lawyers say, it is 
impossible to judge the likely out- 
come of even routine cases. 

Most serious for the tankers is 
that they cannot ordinarily per- 
suade the courts to enforce the pay- 
ment _of interest, even though it is 
disguised by such euphemisms as 
service charge, overhead or com- 
nrission. 


Because interest is likely to be 
lost, bankers say they try to reach 
out-of-court compromises. When a 
debtor refuses to pay anything, 
however, banks sometimes resort 
to the courts in' an anempt to recov- 
er at least some of the principal. 

Though generally considered le- 
nient toward debtors, Islamic law 
can be harsh. For instance, the 

After the Boom 

Living on Less in Saadi Arabia 

Second office articles 

court session described above also 
included a brief appearance by a 
skeletal young man, accused of be- 
ing tbe author of some highly fic- 
tional checks, who was led into tbe 
room in handcuffs and ankle 
chains, his eyebrows twitching ner- 
vously under 8 red-and-wirite bead- 
dress. He left as he had entered, in 
chains. 

Debtors can be jailed if the lend- 
er has dear proof of an unpaid 
debt. Sometimes, putting the recal- 
citrant debtor in prison induces a 

spirit of compromise, a senior U.S. 
lawyer observed. 

Ranke also are turning to the use 
of debt-collection agencies, includ- 
ing such international concerns as 
Dun & Bradstrcet Inc. One West- 


ern banker in Riyadh said he had 
obtained good results by using “a 
rather nasty-looking gentleman 
who is very persistent.” 

On an informal basis, some of 
tbe 11 commercial banks in Saudi 
Arabia are sharing information on 
problem debtors. One banker 
mused about trying to embarrass 
problem debtors into paying by 
publishing their nanvc ip foreign 

newspapers. 

But bankers say many of tbe 
problem debtors are members of 
tbe extended royal family, and 
tanks do not dare to use tough 
tactics against such personages. 

Having made huge profits during 
the boom, the banks, in their cur- 
rent predicament, draw little sym- 
pathy from most Saudis. “Person- 
ally, I don’t think the banks are 
doing enough” to support Saudi 
businessmen, Abdul Aziz al -Zamil t 
minister of industry and electricity, 
said in an interview. “They have 
been on the receiving side for a long 
time.” 

At the Finance Ministry and the 
central bank, however, senior offi- 
cials say they recognize the banks’ 
problem and are working on solu- 
tions. Some bankers are mildly en- 
couraged by a new arbitration sys- 
tem for commercial disputes, 
though it has not vet been seriously 
tested and officials say that Islami c 
courts will monitor decisions to en- 
sure that Islam is not betrayed. 


“I'm fairly confident there will 
be a relaxation” in tbe treatment of 
interest, said Salah al-Hejailan, a 
Saudi lawyer, who pointed to one 
religious leader’s recent statement 
that interest could be tolerated so 
long as it did not exceed inflation. 

Soil, because the upholding of a 
stern hlym ic tradition is tbe taris 
of the ruling family’s power, any 
legal changes appear likely to come 
only gradually. Officials here are 
reluctant even to discuss the sub- 
ject. “I hope," said Hamad Saud aJ- 
Sayyari, governor of tbe Saudi Ara- 
bian Monetary Agency, or central 
bank, “that once tbe economy 
changes course many of these prob- 
lems will disappear.” 

Some banks are taking small 
steps toward adapting themselves 
to Islam. For instance, instead of 
providing a customer with a loan to 
finance imports. Saudi American 
Bank, an affiliate of Citicorp, in 
some cases buys the imported 
gpods and sells them on to the 
customer at a profit 

At another foreign-affilialed 
bank, the chief executive observed: 
“We should not kid ourselves that 
we are going to wake up tomorrow 
and find tbe British legal system 
imposed in Saudi Arabia.” 

Tomorrow: Prime businessmen 
hesitate to invest at home. 


Onumhun 


Alain Jupp6 

franc should be devalued, describ- 
ing the Socialist government’s 
monetary policy as “a little loose, 
but going in the right direction." 

There is “very definite" foreign 
investor interest in some of the 
state-owned companies, should 
tireir shares be made available, said 
J. Paul Horne, the interna tional 
economist for the New York in- 
vestment bank Smith, Barney, Har- 
ris Upham Sc. Co. 

The interest, be said included 
insurance companies. Lhe Indosuez 
and Paribas banlting-in vestment 
groups, and Cie. Genfcrale d’Bec- 
triciti, France's largest manufac- 
turer of electrical equipment. CGE 
currently is negotiating a major 
telecommunications cooperation 
agreement with American Tele- 
phone & Telegraph Co. 


WOLFF SYSTEMS 
RESEARCH LTD. 


Advisors to 


CHAKTEKED COMMODITY COOT 

1985 Commodity 
System Trading 
Results 

Jan 1st to Sept. 3Qth 


71 % 


Minimum Account 
Two Hundred Fifty 
Thousands U.S. Dollars 


r i 


Weekly net asset value 

Tokyo Pacific Holdings N.V. 


3 on Nov. 25, 1 985: U.S. $1 53.24. 

Listed on the Amsterdam Stock Exchange 

Information: Pierson, Netting & Pierson N.V., 

Herengracht 214. 1016 BS Amsterdam. 


No. : 3203 /D/3 

DATE : 16/ 11/ 1985 

EXTENSION OF GALL FOR TENDERS 

THE VALIDITY OF CALL FOR TENDERS No. 3998/M/D/3 DATED 
10.9.1985 FOR THE SUPPLY OF EQUIPMENT. INSTALLATION AND 
CONSTRICTION OF THE REQUIRED WORKS IN THE REGION OF 
LOWER EUPHRATES VALLEY. ZONE No. <ll. SECTOR (Tj NEAR 
THE Cm OF DOR-EZOR, TO BE EXTENDED IN ORDER THAT THE 
DEADLINE FOR THE SUBMISSION OF BIDS WILL BE ON THURS- 
DAY. DECEMBER 19th. 1985. 

AND THE REST IS UNCHANGED. 


GOLD 

DIRECTOR GENERAL 
ENG. TAHA AL-ATRASH 






Page X4 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


Wednesdays 

AMEX 

Closing 


Tobfes Include the nationwide prices 
on to Hie closing on wall Street 
and do not reflect late trades elsewhere. 

f'w The Associated Press 


l». life Aualml n 3al life 

»Va 13* Awendl JO U U IS 17ft 


Jal life 124 »2» + fe 
IS 17ft J7ft 17ft + ft 


»} 

48* 

TVS 
3ft 
6* 

Sft 

nu 
Ift 
3* 

Aft 3 
7H 5ft 
BV. 3* 
lift 4* 

im t* 

9* 6ft 
life » 
2* * 
17fe 7ft 
1W ft 
4ft 2ft 
5ft 2 


Aft 4ft 
16ft lift 
10* 14M 
4ft 4fe 
3ft 3ft 
80ft «7ft 
3ft 3 
lOfe 10ft 
nfe ms 
m ife 

3 2ft 
V 2616 

4 3ft 
Sift 51ft 

7ft Tft 
M m 
!«J 10* 

117 IMfell7 
4ft Aft Aft 
7ft 9ft 4ft 

Itl 

34ft 33ft 34ft 
32ft lift 32U 
3 2fe 3fe 
12ft 12ft 12ft 
7ft 7ft 7ft 
tOft 10ft 10ft 
Aft 4ft &ft 
42ft 41fe 43 
5ft Aft 5ft 
Aft Aft 4ft 
4ft Aft Aft 
7ft 7ft 7ft 
13ft 13ft 13ft 
5ft Aft 5ft 
Aft 4 Aft 
54ft 53ft Oft 
ft ft ft 
14ft 14 14 

7fe 7ft Tfe 
14ft Uft 14ft 
Aft Aft Aft 
5Aft 53fe 54ft 
47ft 47fe 47fe 
4ft Aft Oft 
2ft 2ft 2ft 
Aft Aft Aft 
Zfe 2fe 
BIS 8 

lft 1ft ... 
lfe Ift 1ft 
3ft 3 3ft 
A 5ft A 
Aft Aft Aft 
5 Aft Aft 
9ft 9ft 9ft- 
9ft 9ft 9fe 
I3ft 13ft 13ft 
Ift Ift 1ft 

■ns ,a s ts 

3ft 3ft 3ft 
2ft 3ft 2ft 



26 

44 

12 


16 

X4 


u 

11 


18 

3.3 


X5 

19 


46* Z1 
.15a 1 X 10 

1-44 4j 1A 
1480*7 9 


lAfe 16ft 
17ft 17ft 

!* Si 

lift life 

Rl* 

2S 2 *Ya 

12ft 12 
lift IBfe 

* ^ 

% ft 

in toft 

34ft 34ft 
38ft 37ft 
IBfe I81S 
13ft 13ft 
34 24 

*S Tt 


16ft 

17ft— ft 

8 


IS:: 5 

15ft— ft 
Sift— ft 

lift" 14 

3ft— ft 
1S 

ft + * 

34vS— ft 
37ft— Tft 
18fe + ft 
Oft 

24 + ft 

£7* 

2» + ft 


lift * JoKiInd 

Aft 2ft JunpJk 


5 i 

lu. 


3 76 8ft Ift Aft + ft 

» » «i W 4ft + ft 


32ft 
17ft 
Ift 
IMS 

4ft 

9ft 
lift 
12 

13 

14 
lift 
5ft 

43 
Wk 
12ft 

A 

25** 

33 121 2W6 29ft 29ft 
*3* Ife 1ft 1ft 
39 
5 ft 
23fe 


Aft Zft 
Mft 10 
Ufe 10ft 
15ft 9ft 
23ft 14 

4 2ft 

life Tft 
7ft 2ft 
2Vi ft 
Aft 2ft 

4*H Ift 

4ft 2ft 

n a 

3ft 2 
lAfe lOfe 
30ft 22fe 


KarCB 3) M 1 

KoyJ n JOe 22 11 

KWTNI -40 37 14 

KaWim C5I 3L6 18 

KeyCaA JSt « 21 

KeyPfl 701 25 

KeyCa 9 

KnCawl 

KUdewt 

Kinorfc 

Hirin' 

KltMfa IS 

KhW J>2r 4 
Kno» 13 

KogerC U2 08 95 


30 3ft 
2 13ft 
5 13ft 
47 1IM 
40 1M» 
23 3ft 
1840 

1 ft 
82 3ta 
17 3fe 
240 2fe 
26 5ft 
23 2ft 
1 14ft 
112 24fe 


3fe 3fe— ft 
Uft 13ft 

IM Uft— ft 
18ft 10ft + ft 
18ft 18ft— ft 
3ft Ift 
ffe 1K% + IS 
2ft 2ft 
ft ft 
3ft 3ft— fe 
3ft 3ft 
2ft Zft 
Sft Sft + ft 
2ft 2ft 
14ft 14ft— ft 
»V> 26ft— ft 


IJJS. Futures 

Via The Asso c iated Press 


Seam Season 
Hhh Lour 




11 

41 

23ft 





II 

1 4* 

Tfe 

9ft 

Tfe + ft 




44 

1ft 

1 

1ft 





1 

7fe 

Tfe— ft 



18 


13 


12* — ft 







Aft 



8 


life 




9J 

22 

14 

Sft 


Sft + ft 


Zt 

9 

12 

15ft 


Uft + ft 




268 

1ft 

tft 

1ft + ft 

as 

14 


60 

IS* 


IS* + ft 




1 

10ft 







M<m 

S3V» 

54fe + fe 





2U 

2ft 

2ft— ft 





13ft 


13ft 


9 

16 

10 

14 

life 

14 



14 

31 

6ft 


Afe— ft 



14 

148 

Afe 


Aft— fe 

.6612X0 


112 

7ft 


2ft 










97 

lfe 






B 

2ft 

m 

2ft 





9 



J7B1Z3 


42 

life 

12ft 

12fe + ft 





7ft 





29 

1482 

2ft 


2 



l» 






.9 

13 

067 

IBfe 


18ft 


J 

14 

7 

18* 

18* 

18ft + ft 




5 

9ft 


Tft 


J 

29 

978 

33 

32ft 

32fe— ft 



5 

18 

31ft 


31 + ft 

406 34 

9 

20 

33 




34 

10 

1 

31ft 





8 

44ft 

44ft 

44* + fe 


9 


34 



■M 

14 


1 

13ft 

13ft 

life— ft 



78 

2 

3* 

3* 

3ft — ft 

30 

22 

9 

10 

9* 

9ft 

9ft 




ss 

5* 

Sfe 




A 

92 

23 

22 

23 + ft 




no 

7fe 

7ft 

7ft 




is 

12 

life 

life 




674 

7Va 

Aft 

Tfe + ft 



IB 

39 

8fe 


Sfe + ft 

^0 

11 

14 

1 

19 

19 

19 _ ft 


2S4 

2 

Tfe 

7ft 

7fe 



2ft 1ft 
3ft 1ft 
22 12ft 
3Bft Uft 
14ft Sft 
27ft 16ft 
Oft 2ft 
34ft 20fe 
7ft 4ft 
Sft 5 
34* 9ft 
3 1ft 
Aft 2ft 
2fe 1ft 
33fe 16* 
41ft 27ft 

19 10ft 
14ft 9ft 
13* 9ft 
14* 10 
24ft 8ft 


LndBttc JO 28 12 
Lndfflk JO 24 1 
Laser 19 

LlofPP 100 174 
LeePti 13 

LbHIWis JO 17 II 
Leisw'T B 

Levin 10 

LWFPh JO 17 10 
Life Ret 
Litftf 

LctSd 20 

Lorlmr 21 

Sfe - 

LydS * 

LvnCSs JO 14 n 


4A ift 
5D Ift 
7 21ft 

3 28* 

277 lift 
21 18 
180 9 

7 34 

4 7V» 

% 

IS Ift 

20 m 

12 1ft 
20 20 * 

265 41ft 

13 T7ft 
75 13ft 

345 life 
20 14ft 
M3 Tift 


21ft 21ft 
20ft 2Bft— ft 
10ft 10*— ft 
17ft 17ft— ft 
7ft 7ft 
34 34 

7 7ft 
Aft Aft 
29ft 29ft + ft 
1* 1ft 
3ft IM + ft 
Ift Ift + ft 
20ft 20ft— ft 
AOfe 41ft +1 
17ft 17ft 

n ms— * 
lift ms 
Mft 14ft + ft 
Uft 10*— ft 


Open Htoft Low oom 


U* 
2fe 
Ofe 2 
13ft 10ft 
7ft 2* 
Mft Uft 
ft ft 

!0ft 4ft 

Tfe ft 
17ft Uft 
3* Zft 
12* «U 
9* 4* 
8fe 5* 
15ft 


Season Season 
High Law 


13* 10ft HMO JO 5J A 10* M* 

21 lu life HUBC JBd 37 U 10 20ft 20ft 

Aft 4ft HaHtax J4e 7 21 A A 

1ft 1ft Halml 247 2ft 2ft 

1* 1 Hanoi wt 10 1ft lfe 

29ft 71V. Hndvmn tfe J 1 131 26* 25* 

28* 13V. Hantrds JO 14. 16 22 27ft w* 

19ft 21ft Haabrs .15 A 11 91* 34ft 35V. 

43 24* Hasbr pi X00 47 20 40ft 40ft 

41* 28V. Hasting J0O 1J 10 10 life 30ft 


A 1W 10* 10* + ft 
1C 20ft 20ft 20* 

s ift tv. tftta 

10 1ft 1* 1* 

131 26* 25* Mt + * 
22 2TI* 26* 27ft + ft 

St* 

3TC3A 


9h ■* Him 
17* is* HtthCrs 781 2J 
10ft Sft HttfiCh 
17ft AH HtttiEx If 

15* 11* HeltfcM J4 4J 10 

17ft 10 Heinlcfc -IP 7 9 

3W 1ft H eMer 50 


% Hedant 
HWmR 

5* 3* HerahO 78 

3* 1ft Hlndrl 
17 9fe Hlptron 1A 

Aft 1* Hahn on 
20ft 7 HoUyCp -24 17 7 
27* 15ft HmeGn 
22ft 20 HmlntpfZ9S 110 
24* 14* norm! 6 J6 13 12 
12 A HmHar 
I* * HmHurt 
19ft 13ft HotIPtV 180 9J 17 
A* 2* HoffPwt 
Aft 3* HouOT JA4178 
lflft lift HovnE 11 

131S Ift Howl In 7SP 28 7 
24ft 16* HubelA 3 76 37 13 


Open High Low Close Che. 


Secman Season 
Htati LOW 


Open High Law Gate Cno- 


17103 VA2J3 MOT 17175 17V00 17175 174J3 +059 
Esf. Saws Prov. Sales 2768 

Prev.OavOpenlnL 11.199 off 472 
SUCAR WOULD 11 (NYC5CE) 
llOOOOIDs-- c ents per IB. 

7.75 300 Jan 573 5J5 £33 5JA +86 

973 334 Mar 608 672 558 i-l» +-.10 

7.15 353 AAaV &2H &3S 6.16 676 +.14 

670 379 Jul 6J9 6J9 629 6.47 +.12 

687 4J4 Sep 6J5 6J5 655 6J2 +JW 

676 482 Od 6J8 A77 457 673 +.10 

775 675 Jan 686 +.10 

7.53 4JI Mar 720 774 770 774 +.10 

Est.SoWs P rev. Sales 9814 

Prev.OdV Open! nt. 95J67 up 931 
cocoa orrcscE) 

IB metric tons- S per ten 

2337 1945 Dec 2115 3130 2090 7105 —2 

2392 1955 Mar 2200 2209 7175 2179 -21 

2422 I960 May 2256 2263 2230 2234 -14 

2429 1940 Jui 2286 2296 2M5 2265 — T7 

3430 2023 Sep 2320 2322 2295 229S —11 

2425 2055 Dec 2327 2327 2308 2305 —IB 

_ 2305 2029 Mar. 2325 2325 2325 2116 -9 


EURODOLLARS (I MM} 

J1 m 1 1 1 ton-pts of TOO pel. 

9Z17 8480 DK 9179 9284 9175 9280 

92.14 IA.M Mar 91.94 9282 9171 7179 

•171 067a Jun 9172 91 JB 9171 9178 

91J1 DM Sec 91.42 91J9 91 J1 91.47 

9T-30 S7J9 Dec 91.10 91.11 9189 91.17 

9180 H7J4 Mar 9079 9087 9079 9087 

9069 BOM Jun 9051 9058 TO-51 90 » 

90J1 09J9 5eo 9030 9071 90J0 9072 

Est. Sales 31600 P rev. Sales 
Prrv. Dav Open I rrt. 160632 usl 


10 31fe 30* 31 fe +1* 

67 Tft 7 9 

95 14ft Ufe 14fe— fe 
5V 8ft 8fe Ift + * 

84 9* 8ft 9* + * 

A 14* Ufe Uft 
44 15fe 15 1516 + fe 

» t I* 2 

S ^ 16 

M 4* 4fe 4* + ft 

19 2fe 2fe 2fe 

20 IS Mft 14* + * 

24 2Vi 2* Ift + ft 

33 20ft 20* 20ft + V. 

1649 26 24* 25* + * 

145 22ft 22ft 22ft + fe 
42 25 24* 24* 

238 7* 7 7ft— ft 

1 * * * 

68 19ft 18* 19ft + * 

29 A* Afe A* + * 

761 4* 4ft 4V. 

15 14* lAfe 16ft 
20 12fe T2 Ufe + fe 

11 23* 23V. 23 fe — ft 


13ft 
1* 1* 1* 
9ft 9ft 9ft 
Ift 1ft Ift 
Sfe 8* Ota 

2ft S5 2ft 

lift I Oft life 
19* 19ft 19ft 
1 ft 1 
lift 71* lift 
19* 19* 19ft 
Uft Ufe 12ft 

^ TR "* 

18 17ft 
19* 19 
56ft 54fe 


25V. 16V. HubMES JA 37 13 lit 24fe 23* 23* + * 


21* 17ft HvdGn JO 18 17 
9ft Aft Husky o JA 5.1 


24 22ft 22 
631 7ft 7 


8 3* I CEE n 

55ft 37* ICHi 
7ft 1 ICO 
4fe 2ft I PM 


3fe IRTCps 
I* 1ft InwGc .1ft 24 
Zft ft Imprnd 
40 ’A 3016 I mod I g 1J0 

IJfe 5 Inflght 

33ft life Instms JO 18 

2* l* InstSv 

7 2ft liuSvof -251 9J 

13 7 intCtvg 40 

15fe 10ft latmk ,12b J 
4ft 2fe IrttBfcni 

1ft * IntBkwt 

II Sft IntHytf 

life tfe IIP .96 85 

4 Vi 1ft IfTtProt 

9fe A Intseaw 
10ft 2* IntThrn 

10* 3* InTbrpf 

23ft Uft Ionics 8 

41 25 IroaBrd 


Est Sales Prev. Sales 1.979 

Prav.DavOeenlnt. 18730 will 
ORANGE JUICE (NYCE) 

15JO0 lbs.- cants per lb. 

18000 11170 Jan I13JS 11375 11270 11285 +J0 

177 JO 112J8 Mar 11473 11475 11370 11400 +40 

162J0 vnjs MOV 11*20 114J0 11110 114JJ0 +J0 

157 JO 111J0 Jul 11580 11500 11440 11488 +JQ 

1B0J0 11100 Sep 111.90 11200 11150 111^ —75 

11475 11 1 JO Nov 11280 11200 11200 11170 —JO 

11300 11300 Jan 11200 11200 11200 111.15 —75 

16175 111 JO Mar 11280 11280 11200 11275 —26 

Est. Sale* Prev. Sales 600 

Prev. Dav Open Int. 6J09 off 331 


II SO 5 5 S — ft 

I 276 52* 52 52* + fe 

12S 54 1* lfe lfe— * 

39 4 3* 3*— ft 

61 * 8* 9 +* 

,1ft 24 22® 3ft 3^ Ift + ^ 

40 113 19ft V* 3m— ft 

7 A Afe Aft Afe + ft 

70 18 21 110 21 20ft 20ft + ft 

9 >99 1* 1* 1* + ft 

751 9J 5 Zfe • 2* 2*— ft 

40 343 13ft Ufe Ufe— ft 

,12b J 26 IS* 15 15 — ft 

312 3fe 3ft 3ft + ft 

65 * ft * 

23 52 7* 7* 7* + ft 

.96 85 10 KM ID*. 10* + ft 

20 3ft 316 316 + ft 

11 8* Ift 8ft + ft 

731 3* 3ft Ift— * 

75 lfe Ift Ift— ft 

21 25 21fe 21* 21* + fe 

33 2 Mft 34ft Uft 


COPPER (COMEX) 
25400 ibb-CMitm pot b 






8425 

S8J0 

Doc 

6055 

6140 

6015 

6120 

+J5 


56.75 






+J0 

8040 

5920 

Mar 

ffll 

6240 

2H 

mm 

ft 


HUB 



(225 

744Q 

6025 


41 JO 

6X40 

6160 

6X50 

+25 

70.90 

6Q50 

Sot 

6115 

6X45 

AXIS 

6X80 

+25 

7070 

6125 

Dec 

5245 

6440 

AZ45 

6X30 

+25 

7020 

6320 





6X45 

ft 


62.55 






67 JO 

6290 

May 




6485 

+.« 

6420 

6325 

Jul 




64X5 

+.W 

4440 

61 JO 

Sot 




6465 

+.15 

Eal. Sales 


Prav. Soles 17469 




Prev. Oav Open Int. 79J45 





1 ALUMINUM (COMEX) 

1 40400 tat-oents pot lb. 






7040 

SS 

Dec 

4X40 

4X60 

4X35 

4X58 


76J0 





4X90 

—25 

7140 

2% 

Mar 

4470 

4480 

4455 

4465 


6675 

May 




45-40 

—40 

6X45 

23 

4295 

Jul 

4440 

4440 

4440 

46.15 

—AS 

52.10 

49.10 

& 




4690 

4840 

4825 

3 



Mar 




49.10 

—.45 

S3JS 

49^0 

May 




4925 


5020 

4U40 

Jul 




5X60 

51 JO 

51 JB 





5125 

—AS 

Es>. Sales _ Prwv.Satas 

Prev. Day Oom Irrt. 1.9*9 

735 




SILVER (COMEX) 











13304 

5904 

Dec 

62Z0 

6224 

6074 

6085 

—164 

12154 

5954 


49<n 

6254 

6184 

41X9 

-142 

11914 

6074 

Mar 

6J54 

<365 

6214 

A79 0 

-154 

10484 

6194 

May 

6454 

6454 

6294 

6302 

—154 

9454 

6294 

Jul 

6534 

Agin 

6394 

6400 

—142 

9400 

6214 


6424 

AAQfl 

vpt) 

6484 

—155 

7994 

6524 

Dee 

4/74 

6774 

66X0 

6615 

-141 

7894 

6664 

Jan 




6648 

—142 

7704 

6700 

Mar 

6884 

6814 

6884 

6744 

—162 

7S24 

6824 

MOV 

4974 

6*74 

49X0 

686-4 

—144 

7444 

69U 

Jul 

nu 

7084 

7064 

*965 

-145 

7292 

649J 


7174 

7174 

7104 

7075 

— 14A 

Est. Sotos _ Prev- Softs 21,963 

Prw. Day Open lot 90793 




50 tray az^ 
33440 

tfoltar* 

oertrai 

Dec 

SSoo 

34240 

34040 

34X40 

-520 


fKf <P| 


pflAfl 

35200 

34540 

7^4 /ft 

-620 

36250 

26450 

Aur 

35100 

25X00 

347J0 

34940 

— S.90 


16ft 

11 Jactrn 

JOb 64 fl 

1 

life 

life 

11* 

7fe 

5* Jacobs 

13 

36 

Sfe 

Sfe 

5ft 

m 

3ft JetAm 
ft JetAwt 

7 

s 

* 

3ft 

ft 


9* 

S* Jetran 

211 85 14 

95 

tfe 

7* 

8 + fe 

Aft 

2ft JohnPd 


11 

3fe 

Sft 

3ft— ft 

life 

5 JelmAm 

20 52 1 

ItM 

Sfe 

5ft 

5* + fe 




Ara BNAa et leedftgje w elwe uwnMniidt 
Oe pe rJ EOpElA^ 8. i—deVertai- CwA v e 022 821717' 




5 


•4-r , ~ 




” 14ft 
190 tfe 
SI 3fe 
40 Aft 
307 4ft 
32 5ft 
14 Ufe 


Oft Sfe PLM .12 M 
15 life PGEpfA 1 JO 1QJ 
13* 10* PGEatB 177 109 


47 Ofe lfe Sfe— fe 
10 Mft 13* Uft + fe 
I Ufe 13* 12*— fe 


Gonmiwlilies 


Gommotlities 


London 

Commodities 


(CoBtinuedonJW 16 > 


Cash (Vices 


Howo-Kone cold futures 
u&Snrma 


Industrials 


1 COTTON 2 (NYCE) 
50400 cents per lb. 






7100 

5721 

Dot: 

6120 

6125 

6060 

6QA) 

—70 

7AJ5 

5827 

Mar 

61-55 

4129 

4045 

6047 

ft 

7000 

5890 

May 

6X03 

6X10 

4120 

6125 

7005 

5828 

s& 

60.10 

60.10 

5928 

5922 

—45 

tft 

5X40 

54.10 

34.10 

5440 

53.95 


5045 

Dec 

51-47 

5140 

51 20 

5U5 

—.12 

6625 

S2J0 

Mar 

5X25 

3X25 

5X25 

5245 

—22 



MOV 




5225 

—27 

Est. Sales 


prev. Sales 2200 




Prev- Dav Open Int. XL130 up 760 




HEATING OIL (NYME) 





4X000 ua 1- cents per pal 






90.15 

49.15 

P4C 

8720 

as 

8650 

8745 

—144 

9075 

6940 

Jan 

87-60 

8747 

8747 

-ZOO 

9115 

7040 

frt 

8450 

87 JO 

8429 

8629 

-340 

8545 

4880 

Mar 

8X48 

8220 

1125 

8124 

—240 

8020 

4840 

Aar 

7740 

7740 

7443 

76X3 

— 240 

7490 


May 

74X0 

74X5 

7X50 

7150 

—am 

7529 

7140 


7X7S 

7Z7S 

7X50 

72J0 

—240 

7440 

7140 

Jul 




7240 

—240 

74.15 

70.70 

Auo 

7130 

7X30 

7120 

71 JO 

— X40 

7X50 

7X25 

SOT 

71 JO 

7120 

/1J0 

7120 

-240 

72JD 

7X50 

Oct 

7X55 

7155 

7X50 

7145 

— loo 



Nov 

7X50 

7J50 

7X50 

7144 

—240 

Est. sales 


Prev. Sales 11446 




Prev. Day Open Int. 35409 all 1.108 




CRUDE OIL (NYME) 

1 400 bW.- dollars per bbi. 






31.17 

2428 

Jan 

30X2 

3027 

2924 

2974 

—140 

30-43 

2425 

Feb 

2920 

29 -7S 

2853 

2893 

—140 

2948 

34.13 

Mar 

28JD 

2890 

2815 

2815 

-140 

29X5 

2353 

Aar 

7755 

3813 

27 JO 

27 J3 

— J4 

2405 

2165 

Mav 

2728 

Z7J0 

3690 

27.10 

-40 

2746 

2178 


2450 

2744 

26X0 

2635 

-^45 

27.53 

24X5 

Jul 

2464 

2485 

2645 

2620 


2723 

2450 

Auo 

26X5 

26X5 

2550 

2400 

—71 

2740 

2440 

SOT 

2410 

36.15 

2530 

2530 

—92 

2473 

25.15 

Od 

2550 

2590 

25.90 

25.W 

—27 

2650 


Nov 

2558 

2X70 

2870 

25-70 

—24 





2523 

2523 

25-33 


24X5 

2440 

Dec 

2150 

2SJ3 

2SJ0 

2SJ3 


Est. Soles 11406 Prev. Seles 11258 
Prev. Dav Open lnt, 57J13 oftxms 






Hfth LOW BIO ABC BIO AH 
NOV _ N.T. N.T. 33080 31280 33080 33280 
Doe _ N.T. H.T. 33080 33280 33180 33380 
Jan _ N.T. N.T. 33280 33480 me 33580 
Feb _ N.T. N.T. 33580 33780 mafl 33780 
APi _ M.T. N.T. 33880 14080 33980 34180 , 
Jun _ 24480 34480 34380 34580 94380 34580 
Aug _ 34880 34180 34780 31980 34780 3498B 
Oct _ N.T. N.T. 35180 35380 3538035580 
Volume: 25 Ms of MO at 
SINGAPORE GOLD FUTURES 
UJJ per ounce 


Ktgb Lew Seme Settle 

Dec H.T. N.T. 331 JD 331.10 

Feb 31680 33570 33580 33570 

Mar N-T- N.T. 33880 33770 

Volume: M lots of 100 as. 

KUALA LUMPUR RUBBER 
Maltrvslaa cents per Ula 

Close _ PrevMas 
BM Ask BM Ask 

Dec 17780 17880 17780 I7B80 

Jan 17850 179 JO 17SJ0 I79J0 

Fed 179J0 lBtUO 179 JO >90 JO 

•W . 1B0J0 101 JD 10850 Ml JD 

Volume: 0 tots. 

SINGAPORE RUBBER 
Sftpopore cents por kite 


Nm-27 . 

Year 






LLSeTreasuries 


Currency Options 


4JJ00 swte PW 

s S f 


Financial 


US T. BILLS (IMM) 

SI million- OB at 100 pet. 

9380 8577 Dee 92-*4 9380 9272 9296 

9X06 B660 Mar 9X95 9381 9293 VX9B 

928* 8781 Jun 9274 9280 9274 9280 

92J6 88.00 Sen 92-50 92J1 92J0 9X5J 

9Z26 8985 Oec 9X19 9222 9X19 9X23 

9186 89J8 Mar 9110 9122 91.90 91.94 

♦14* 9OJ0 Jun 9|J8 

91.47 9083 Sea 9182 

Est. Sales 4J23 Prev. Sales 

Prev. Oav Open lnt. 39898 
10 YR. TREASURY (CB73 
SW0800 prim pts A 32nds at 100 Pd 
90-16 75-13 Dec 89-16 90-3 89-13 5*30 

BP-18 75-14 Mar 80-19 89-5 80-17 BP-2 

60-18 74-30 Jun 80-5 

87-24 80-7 Sot H7-11 

87-1 80-2 DOC 8620 

Est. Sates Prev. Sale* I48M 

Pnrv. Day Open Int, 65827 a«U3* 


Stock Indexes 


(Indexes camelled shortly before market close) 

SP COMP. INDEX (CME1 
points and cents 

20290 17X70 Dec 2D1JQ 20340 20095 20X60 +X45 

205.18 18230 Mar 20X50 2DS90 20135 205J0 +X25 

2B6J0 10X90 Jun 20535 207.45 2 0 535 2077S +1JS 

20770 I87JU Sen 20770 20890 20770 20890 +190 

Est. Sales 57372 Prev. 5 cIm 
P rev, Day Open int. 70A23 
VALUE LINE (KCBT1 

points and cents 

21745 18840 Dec 20775 20940 207.15 20975 +1J5 

21135 190J0 Mar 21025 71 XB 21075 21200 +1J0 

Est. Sales Prev. Sales 4468 

Prev. Day Open Int. 1X168 up837 
WYM CO MJ* . INDEX (NYFR) 

mSl Dec 116.10 1T7J5 11605 11745 +130 
11875 105-50 Mar 1T7J0 11890 11745 11840 +1.10 

12040 W90 Jun 120.10 120.10 11870 11970 +-1JB 

12040 mio Sea 12060 12040 119 JO 12040 +J0 

E«. Soles 7344 Prev. Softs 6903 
Prev. Day Open Inf. 8773 
MAJOR MKT INDEX <CBT} 

POtntaurdeVgtiti 

277 349* DeC Z74ft 280ft 274* 280 +Sft 

2771 6 WO A Jon 278 281 278 250* +-<*1 

278* 271 MOT 281 281ft 281 Sift +4fe 

Est. Sotos _ Prev. Sales 163 

Prev. Dav Open lnl. 1797 up 7 



Ab» 36 

DbCOBSf 


Prvr. 

Otter BM 

VWM 

Vftto 

SHBmta bW 723 720 

7X6 

7X2 

6+MBlti ON 7 29 727 

7X7 

7X4 

Prear bffi 725 72) 

730 

741 1 
Prev. 

■Id Ofler 

View 

YleM 

3*+r.baB a 99 7/32 999/32 

Source: Satamee Brouters. 

945 

947 

Merrill LracA rreawry mb: 
C*nestarnwdav:+049 
Average yield: *21% 

Srarce.- MenUlLmcti 

131X4 



sugar"** ^ “ a* ~ am 
S terling per metric tan 
DK 14740 14X00 14248 U740 14240 14740 
MOT J61JD 15740 15740 15740 15740 15740 
May 16120 16140 14140 16X00 16148 16X00 
AW 17040 16860 1A6O0 16770 16600 16730 
Oct 17430 17240 17040 17140 17040 17140 
VOftme: 2337 loft al 3D tone. 

COCOA 

Sterling per metric Mn 
Dec 1443 1427 I486 1420 1437 1439 

**°~ 1464 1465 1476 1477 

JJDB ag 1487 14M 1497 14M 

JlT 1925 UH9 1306 1300 1714 1,716 

Si Hti '-S HH 1-7» 1336 

Dec 1340 132* 1329 1330 1333 1335 

Mar 1345 1345 1344 1345 1347 1330 

vtf tone: 3425 lots at 10 tans. 

COFFEE Company Par Amt Per Rec 

Sterflw per metric tag - own. 

Nor 1430 1411 1412 1430 1400 1405 

Inn 1470 1447 1447 14a 1440 140 Howora Bancorp - >■ 45 U-Z7 1S-U 

Mer 1310 1465 1400 1404 1471 1479 Teormmli Products _ SUM 12-27 T2-1X 

J-Wl 1919 1931 1315 19U 1420 . INCREASED 

J»y Ml 1451 1465 1370 1,955 1958 ^ _ INCREASED 

2E. VSi VSi 1 '* S 1 - m gedon gjOdwen Q JD 1-2 12-1A 

NOV 2425 2425 2415 2405 2410 2420 Campbell Sow Ud - Q .16 12-19 12-9 

Volume: 2448 lots at 5 hms. Comertcatnc a J5 K3 12- T» 

GASOIL Parmer BrMtwrsCa a 35 2-3 1-17 

jiwmnwe mi— n Oco Inc a .11 14 ^ 

P^taw ■« 277 JO 27840 S! SKW** Q S ’gj 

rSIS; <§£ 133 S3 — am. 

«ii«= !5S S3 1S3 ^fSfSSSSlSSg 

5SS35: £3 S3 SS 88 £ 

Kwuuwru.Mu.aL "zjzzszsz ssKrass 1 

Previous CRUDE OIL CB HStfT ) / REDUCED 

“ ^ * *• .« » 

72* Peb 2Z*5 2S2B 2X30 2X« 2X99 BJ1 STOCK. 

745 JkSF NT a"?" Urn mdtan Hwd Banks .UPC 1-U 1X34 

750 ££» NX Itf: S.» BS ^3S 5^ *wi«, ..mfchbm 

760 JOB N.T. N.T. 2545 27.10 26.10 37J6 STOCK SPLIT 

7S . Vohnw e^iS loti at 1400 barred. Baden Dlddnsoa— «ar-l - 

£0 * w ^;*»«^r3<mPLanobn/>BtrDhHjm&r- GRP Inc— Mar-1 

Multlbaak Fbmctal — 3-for-2 

‘tWUAU- •*. 


Q 46 


Dividends 


iDiddmen 
wit Soup Ltd - • 
lea Inc 
r Brothers Co 


volume: 12 tots at 25 Tern. 
Source: Reuters. 


Prime Minister 
Opens Chinese 
Steel, Iron Plant 

Agcnce France- Prase 


London Metals 


m 


ALUMINUM 
Starting per metric ten 

Spot 65140 69240 A5340 65440 

_ 67 *-°° 67540 47740 477 JO 
COPPBR CATHODES (High Grade* 

1 e. . Switofl P€r snvtrtc |pn 

BEIJING — Prune Minister Jg* 

Zhao Ziyang has opened the first copper arntm^tModonu 
stage of the Baoshan iron and steel SSt ‘•“ma yuag 97140 moo 

93040 94040 94140 94440 


ATTv/v rr m n stage of the Baoshan iron and steel $5* 

iloLfe Kenters lalK complex in the eastern city of EKE” 1 
^ a " Shanghai. Xinhua reported gg? 1 ” 1 

Of Cahle SprVlW 1 Wednesday. 5E2S? 

\AtlDiK service The complex was built with help 


reported yrttog nr men n. tan 

* spot 36540 24740 

Forward 27240 27250 27440 


Commodity Indexes 


Close 

MOODY'S n\ M f 

Reuters— 1307 JO 

D-J. Futures NA 

Cam. Research Bureau. NA 

Moody's : base 100 : Dec. 31. 1931. 
p - preliminary; f - final 
Reuters : base 100 : Sea. 18, 1931. 
Dow Janes ; base 100 : Dec. 3t> 1974. 


Market Guide 


Previous 
9KL50 f 
1.7TAA0 
121.95 
227.10 


The Associated Press from foreign companies, I 

NEW YORK — National Japanese but also Australian 
Broadcasting Co. and Reuters news 8“®° and West German, 
service had been involved in discus- 'The first stage, which beg 

stoos for several months regarding als in September, is schedu 
the possible establishment of a produce 500,000 tons of pi] 
competitor to Turner Broadcasting and 700,000 tons of steel by tl 
Co.’s Cable News Network, a Reu- of this year, the agen<y said, 
tecs official said Wednesday. The project, launched in 1977, 

..... _ ... . . was interrupted in 1980 during a 

Michael Reilly, investor rda- readjustment of the Chinese econo- 
uons manager for Reuters in New my , rf its Ugh 7^ 

Yort said the news sconce still was first phase has so far cost 54.5 bfl- 
m discussion with NBC regarding lion, 
the proposed new cable service, but 
would qol disclose details of. the 
talks. NBC and Turner recently 
ended negotiations over a possible 
NBC investment in CNN. 

In addition, a published report 
said NBC will wait until January 
before deciding whether to launch 
a competitor to CNN. Alan Baker, 

NBC s vice president for press in- 
formation. declined to comment 
immediately on the report in 


Forward 27240 
NICKEL 

Starting pot in mrtc Sow 


from foreign companies, mostly £»£ 3KS 535 SSo 

Japanese but also Australian, Bra- jwjlcKLrbm 
ziltan and West German. £p<* 4i«o 41540 42450 42540 

The first stage, which began tri- ftTSS-w" ^ ™ 

ale in ir Ci'KaHiiLvI to 5^*^**® iw mtfrtc iov* 


als in September* is scheduled to SSSt Par 5S/ clB, i w . _ 

produce 500,000 tons of pig iron Su * B - 5us *’- — — 

and 700.000 tons of steel by the end i^angpgrmgbfctap 


Spot 

Sourer: AP. 


39340 79540 39640 39940 



»4itortWy.- •KtaarTe-ty; mmm- 


Street Journal. 


West German Prices Up 

Agatee France- Presse 
BONN — Consumer prices in 
West Germany rose 0-2 percent in 
November compared with the pre- 
vious month, preliminary figures 
published Wednesday by the Fed- 
eral Statistical Office showed. Dur- 
ing the past 12 months, prices have 
risen 1.8 percent. 


— wiim — — 

— i/u i/i» i/» — 

— I/M 1/14 YU — 
BM t/14 H 7/W * 
life Ik ft 11/M1VU 
Tfe fe 14V 3ft 2ft 
Afe W lfe » J 

i n » n - 
in - - — 















































































. 1 



INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


Page Ao 


BUSINESS ROUNDUP 


! i i 









•"■-Utf-ePSsfc 


PpofitRise 
Posted by 
-Johnson 
Matlbey 

Return 

LONDON — Johnson Mat thev 
PLC reported Wednesday pretax 
profit of £10.5 million ($15.4 mH- 
Iion) for die six months ended Sept. 
30, up n .7 percent from £9.4 xnfl- 

hoD in the Eke period a year earlier. 

Earnings per share on a fully 
diluted basis amounted to 4 pence. 
;fl up from 3.1 pence. . 

, 7 It declared an interim dividend 
of 03 peace a share, the Erst since 
the company's financial .crisis late 
last year. The company said this 
reflected the group's recent perfor- 
mance and a significant reduction 
in borrowings. 

In October -1984. Johnson 
Matthey Bankers Ltd. . a gold deal- 
er and bank, was acquired by the 
Bank of England from Johnson 
Matlbey PLC in a rescue organized 
after the discovery of loan losses 
totaling more than £200 million. 

Johnson Matthey said it is confi- 
dent that in time major, improve- 
ments in profitability can be 
achieved. 

Staff and other costs are being 
reduced, while loss-causing and 
- poor-earning activities are bang 
5 >: h connected, it said. Some write-offs 
may be incurred in this process. 

The company said net money 
borrowings at Sept. 30 stood at 
£154 mritinn, dawn. £130 milli on 
from the previous year’s peak. Bor- 
rowings' of precious metals have 
also fallen substantially. 

Interest on borrowings in the 
second quarter amounted to £4.2 
million, down £1.6 million from the 
first quarter. 

Johnson Matthey said p latinum 
prices have been generally lower 
than last year, though demand has 
been buoyant and first half profits 
from platinum marketing were 
slightly higher. . 

Car-exhaust catalysts performed 
well, while the group’s new car- 
catalyst plant in Australia started 
up on schedule. 

In precious-metal refining, the 
first priority had been to reduce 
working capital The West Dept- 
ford refinery in the United States 
- ~ ^continued to post losses, though 

v **.’ ^there 1ms been some improvement, 
it said. 

p f- :?■ In Britain, platinum fabrication, 
* 2 s jewelry and silver activities per- 
■■ ■ ■ formed strongly. 

However, demand from the elec- 
trical and mechanical ai gim w ing 


Toshiba Predicting Lower Sales, 
32.4% Fall in Net Profit in 2d Half 

Reuters 

TOKYO — Toshiba Corp. predicts consolidated net profit of 30 
billion yen (about $150 nnlUon) in its second half aiding March 31, 
down 32.4 percent from 4435 billion a year earlier. Yuichi Yamada. 
vice president, said Wednesday.. 

Second half group sales are estimated at 1:73 trillion yen. compared 
with 1.75 trillion a year earlier, he said. 

An expected continuing recession in the semiconductor market, the 
yen’s rise against the dollar, poor heavy-electric division sales and 
slow exports to China will reduce sales and profit. Mr. Yamada said. 

The company reported group net profit of 3333 billion yen in the 
six months ended Sept. 30. down 19 percent from 41.77 billion a year 
earlier. Sales were 1.74 trillion, up 9 percent from 1.6 trillion a year 
earlier. 

The fall in first-half profit was caused by the semiconductor 
recession and a 49-percenl fall in dividend income from overseas 
subsidiaries, Mr. Yamada said. 

Toshiba America Inc. had almost no net profit in the period after 7 

billion yen profit a year earlier, while Toshiba Semiconductor (USA) 
Inc. reported losses in the period because of increased capital spend- 
ing. 


Time-Gannett Meeting Has 
Wall Street Taking Stock 


a? ft 

isafc 

•: & Ss- 


riUi 

• Kgb 

=S3»j: 

E ; • V 

: i *Vc 

isff 

1 V.; r 


Vi I 


«, a 


■i I H 


* *1 

atijiil 


- L 


(;t4i(Yk* 


* 

•• CM J"' II 

- r i ~itZ J I 
■ e: 

- - a: 

• t.r . 31 

i'll 

. I 

. . i»r 

— , i _ i« 
M • 

— cf 


By John Crudelc 

.Vinp York Tima Service 

NEW YORK — It was a meeting 
that, under other circumstances, 
would not have caused a stir.. But 
when the president of Time Inc, J. 
Richard Munro. met last week with 
Gannett Co.’s chief executive offi- 
cer, Allen H. Neuharth, it started 
imaginations on Wall Sum work- 
ing overtime. 

They have met before, specifical- 
ly earlier this year when Gannett 

NEWS ANALYSIS 

coaxed Tune to the negotiating ta- 
ble to discuss a possible merger. 
That meeting seemed logical to the 
swarm of professionals who track 
corporate marriages. Time was 
worried about a hostile takeover 
bid that had been rumored for 
years, the professionals said. And 
Gannett was ambitiously looking 
to expand into other businesses, so 
why not into the cable television, 
book publishing and magazine ar- 
eas for which Time is well known? 

But meetings between Time, still 
worried, and Gannett, still looking, 
are puzzling knowledgeable ana- 
lysts these days. Perhaps the 
changed attitude can be linked to 
the fact that lime’s stock is already 
up 40 percent this year, doting 
Tuesday at 59’A. Many investors 
seem unwiBihg to go much higher 
without concrete evidence that 
someone is threatening the Luce 
empire, which at least one analyst 
thinks may be worth $105 a share. 
Tm just not betting there will be a 
takeover,” said J. Kendrick Noble 
Jr., media analyst with Paine Web- 
ber Inc. 

There are two key questions that 
industries-has-been disappoint i n g,— ■ investorvin Time-aow-are -asking. 

the company said.- — . . HasTime recently been involved in 

serious merger talks with Gannett? 
And. if so, was the company merely 
preparing itself in the event that 
someone should come along with a 
hostile takeover bid? 

Wall Street analysis are guessing 
that it is Gannett, rather than 



Si- 


MSlVli 


Sandoz Denies 
Interest in Rarer 


Return 

ZURICH — Sandoz AG de- 
nied Wednesday that it was in- 
terested in acquiring Rorer 
Group Inc.. the U.S. pharma- 
ceutical and health-care compa- 
ny. 

A spokesman for the Swiss 
pharmaceutical company said 
there was no basis for rumors 
on U.S. stock markets that it 
plans to make a takeover bid for 
Rorer. 

Rorer has refused to com- 
ment on rumors that it is inter- 
ested in buying the prescrip- 
tion-drug business of Revlon 
Lac. Revlon was taken over in 
November by Pantry Pride Inc. 


Time, that is pushing for a merger. 
And if statements by Tune officials 
can be believed, that company is 
sot ready to subscribe to the con- 
cept “We are not interested in 
merging with Gannett.” Mr. Mun- 
ro said. 

A report published Tuesday in 
The WaB Street Journal, which dis- 
closed last week's meeting, carried 
the same quotation, but added the 
words “at present” outside the quo- 
tation marks. A spokesman for 
Time said those two words did not 
reflect an>’ qualification made by 
Mr. Munro. 

Gannett officials have refused to 
comment at alL 

Still, the report that a meeting 
took [dace was enough to send 
Time's stock up another l 1 .? points. 

Talks with Gannett, which is not 
likely to make a hostile takeover 
bid, give Time breathing room to 
either improve its business results 
or convince Wall Street to price its 
stock not on profitability but on 
underlying assets and cash flow. 

Some analysts think that Tune 
has been trying to expand its cable 
-television system for just that rea- 
son. It now is considered the favor- 
ite in bidding for the cable business 
of Wesungbouse Electric Corp. 

John Bauer, media analyst with 
Oppenheiroer & Co., believes “if 
that acquisition is completed, the 
assets of Tune become more heavi- 
ly weighted toward cable.” And ca- 
ble companies, even when profits 
are slim, are attractive in the invest- 
ment community, he added. “You 
literally force Wall Street to look at 
your assets” instead of quarterly 
profits, which in Tune's case have 
been hurt mainl y by problems with 
its Home Box Office premium ca- 
ble service and lower advertising 
volume- throughout-the magazine 
industry. " " ' ~ 

Time's biggest problem is that, if 
it reports lower earnings, its stock 
is likdy to drop. And the difference 
between the value of its assets and 
its market price becomes more se- 
vere. This, analysts said, is a clear 
invitation to a corporate raider. 


Lambert Plans 
A Charge 
On Earning s 

By Daniel F. Cuff 

Vnr York Tima Sente 

NEW YORK — Warner-Lam- 
bert Co has announced 2 5550- 
million charge against fourth-quar- 
ter earnings as part of a 
reorganization that will take the 
company out or the hospital-supply 
business. The charge will result in a 
loss for the year. 

Joseph D. Williams. Wamer- 
Lambert’s chairman, said Tuesday. 
“We just couldn't continue in those 
businesses'’ because of a limited 
rate of return. 

He said that government moves 
in 1983 to contain Medicare costs 
had changed the way hospitals did 
business. Payment Has shifted to a 

flat rate corresponding to a pa- 
tient's illness, and the change has 
cut admissions and put pressure on 
long stays and elective surgery. 

“These changes were not bad for 
the American consumer." Mr. Wil- 
liams said, "but arrested the growth 
of the hospital -supply industry.” 

Hospital supply accounts for 
$380 million, or 12 percent of 
Wamer-Larabert’s corporate sales 
but less than 1 percent of profits. 
The company also produces phar- 
maceuticals, over-the-counter med- 
ications such as Listerine and Ro- 
laids. chewing gum. minis and 
razors. 

The company, based in Morris 
Plains. New Jersey, also announced 
a voluntary retirement program, 
consolidation of some plants and 
distribution centers and inclusion 
in the one-time charge of expenses 
related to suspended international 
sales of the ami-arthritic drug isox- 
icara. which has been linked to ad- 
verse side effects. 

"It was a big price to pay.” said 
Neil Sweig. an analyst with Pru- 
dential-Barite Securities Inc., “but 
the market tends 10 like these bite- 
ifae-buUet situations. Management 
is admitting mistakes and saying it 
wants another chance.” 

The company currently employs 
39.000 people and by the end of the 
restructuring will be have 32,000, 
Mr. Williams said. 

One of three companies being 
put up for sale is IMED Corp.. a 
maker of intravenous systems, 
which Warner-Lambert bought in 
1982 for S46S million. 

The others are Reichert, a maker 
of microscopes and fiber-optic de- 
vices, and Deseret Medical, a cath- 
eter maker. AD three are profitable, 
Mr. Williams said, and chances of 
selling them are '‘excellent” 

Warner-Lambert said the re- 
structuring would cost $7.10 a 
share. Most estimates for 1985 
Warner-Lambert earnings h3d 
been in the area of S3 a share. 1 0 the 
founbquaner I ast-year.-*he compa- 
ny earned S3 1.2 million on sales of 
$793 J million. 

Warner-Lambert said it would 
use proceeds from the divestitures 
to continue a share-repurchase pro- 
gram and announced that the 
board had authorized the purchase 
of an additional 8 million shares. 


COMPANY NOTES 


Bayer AG’s plans to sell its Met- 
zeler Kautschuk subsidiary to Pir- 
elli SpA will not be blocked by 
West Germany’s cartel office, a 
spokesman said. He said takeover 
by the Italian tiremaker would not 
restrict competition in markets for 
technical rubber products, motor- 
cycle tires, skin diving equipment 
and robber boats. 

BritoO PLC and Texaco North 
Sea UK Co. have announced the 
second discovery this month of oil 
and gas in the northern North Sea. 
It is tiie second in a series of explor- 
atory wrfls bang drilled by Britoil 


under a farm-in agreement con- 
cluded earlier this year. 

Degussa AG. the West German 
metals, chemicals and pharmaceu- 
ticals concern, said world group 
provisional sales rose 4 percent to 
11.67 billion Deutsche marks 
($4.54 billion) from 11.12 billion 
DM in the year ended Sept. 30. 
Foreign sales were 8216 billion DM 
and domestic, 3.4i billion DM. ji 
said. 

Da POnt Cos the U.S. chemical 
group, has announced plans for a 
S60-miflion factory at Maydown in 
Northern Ireland to make synthetic 


fibers. The plant is due for comple- 
tion in 1987 and will have an annu- 
al capacity of 15 million pounds 
(6.8 million kilograms). 

Canute, Indonesia’s national air- 
line. said it had an operating profit 
of 55.5 billion rupiahs (S49.4 bil- 
lion) in the first nine months of 
1985 compared with a loss of $76 
million for all of 1984. 

James Hanfie Industries Ltd. of 
Sydney said it has agreed in princi- 
ple to acquire Nolex Corp., a U.S. 
’ fine-paper merchant, for an undis- 
closed amount. 


ESCORTS & GUIDES 




- r* 


>1* 


5 


^ INTERNATIONAL 
ESCORT 

SERVICE 

USA & WORLDWIDE 

Head office in New Yorit 
330 W, 56di St, N.Y.C 10019 USA 

212-765-7696 

212-765-7754 

MAJOR qg»T CARDS AND 
CHECKS ACCEPTED 
Private UtoJeiiMpt AvaUbla 

Tide award- winning eendc* bat 
boon f e a t u red at fee top A am* 
■xdaitee Eeeorl Service by 
USA « EnMafieod news DMtfia 
indnfing radio and TV. 


* USA & TRANSWORLD 

A-AMERICAN 

escort sravict 

EVBtYWHBS YOU ARE OR GOt. 

* 1-813-921-7946 

'7 CoS free from US: 1-80M37.0892 
Cafl free frpm Florida: 1 -800-2B7-O892. 
laweB Eastern welcomes you back! 


LONDON 
KENSINGTON 
10 KBemmNWffioi sr, wb 

TEL 937 9136 OK 9377133 



: ■ 4 


pit I# 


LONDON 

BELGRAVIA 



Tel: 736 5877. 


LONDON 

Portman Escort Agency 

Tel: 486 3724or 4M 115* 
All 


INTERNATIONAL CLASSIFIED 


(Continued From Back Page) 


ESCORTS & GUIDES 


★ LONDON * 

EXECUTIVE ESCORT SBMGE 
402 7600 or 499 222S 


ARISTOCATS 

London Escort Sonde* 

128 Wiepnore St.. London W.l. 
AI motor Gecfi Cards Accepted 
437 47 41 / 4742 
12 noon • me in ight 


CAPRICE-NY 

ESCORT SERVICE IN NEW YORK 
TEL 212-737 3291. 


MAYFAIR CLUB 

ESCORT SERVICE from 5 am 
ROTTERDAM iOIIO-2S4US 
TOE HAGUE (O) 70-60 79 96 


* LONDON CHELSEA * 

ESCORT SERVICE. 

51 Becudxjrnp Place. SWI. 

Tel: 01 584 65112749 |4-12 pm) 


ZURICH 

A1BGS ESCORT SERVICE 
TBc 01/47 55 82 


INDRANI 

escort shvict 

ZURICH. 01/738 19 13 


* JASMINE * 

aiwramueBCCgsHvicE 


ZURICH-6ENEVA 


ESCORTS & GUIDES 


★ ZURICH * 

SKM Eecnrt Sendee 
Mela A Nmola. 55 90 55 


AMSTERDAM 

EURO ESCORT SERVICE 

020 - 271001 


ROME CUM EUROPE ESCORT 
& Grade Service.TeL 0VS& MW- 589 
1146 {from < pm to 10 pra) 


** GENEVA-FIRST ** 

EectetStevk a -fr wee k end 32 34 1R 


GENEVA ESCORT 

SERVICE. Tel: 46 11 5* 


******GBIEVA BEST 

BCORTSBnRCE. 022 / 86 15 95 


GENEVA * BEAUTY* 

ESCORT SERVICE 022/29 51 30 


VIENNA ESCORT - AG9ICY 
TBi 37 52 39 


LONDON BEST E5COKT SBMCE 
Heohow. Credit oatdi 235 2330 


LONDON GOID* ESCORT SBtVfCE. 
Heafeow 01-328 9763 


AMS1BMM ROSTTA'S 
Eeceri SerViCA Tcfc 0003231*7 


AMSTERDAM JEANET Eccari Service 
Tel: (000) 326420 or 3401 la 


HUMOUS! A SURROUNDINGS 
Corcinr't Exari & Trend Serwee. 
Engfah, French, German, Spanah spo- 
ten. Tel: <069143 5761 


VIBMA SIUSBIT ESCORT service. 

CerWQC*' 83 43 04. CrecH cads oe- 
ttptod. 


ESCORTS & GUIDES 


ESCORTS & GUIDES 


RAM9URT 8 AREA. Sntone s Escort 
Service. Credn Cards. Tet 62 88 05 


LOimON GRAZtRLA ESCORT Ser- 

vice. Tel 07-589 2247. 


BRUSSELS. CHANT AL ESCORT Set 

nee: Tel. 02/520 23 65. 



1 r 1 *i SMIL". : 








ssawii*,*:;* -a 





[ _i| a ' (- ^ • n A 

I* 1 '.if* 1 mV if iiY 1 ' iiii 



? i: Iiii M~R 




m i^piiad 









1iSi'iW‘VV-|Vb1>m 

'.T?r 



COPENHAGEN Ms SconcSnawan Es- 
cort Service. Tel: 01-54 17 06 










HAMBURG - SABRNA Emit S*. 

< vice. Tek 040/58 65 3S. 


LiW*p 

f - • ' i 





LONDON PARK LANE Eicon Service. 
Tel: 01-821 0283 


U.S. Nonprofits Generate Revenues in New Ways 


(Continued from Page 13) 
mbutors and lose donations by ap- 
pearing too successful in thor com- 
mercial ventures. 

Serious questions also have been 
raised about legality, p r o priety and 
ability. Small- business owners and 
the U.S. jvmflU Business Adminis- 
tration have argued that nonprofits 
have an unfair competitive advan- 
tage because their tax-exempt sta- 
tus. coupled with other benefits 
such as lower postal rates, often 
reduces thdr costs and thus enables 
them to offer products at lower 
prices than their profit-making ri- 
vals. 

Critics within the nonprofit com- 
munity sec the problem in a differ- 
ent light. Many are idealists who 
still recoil from the idea of any 
involvement with business — al- 
though they are reluctant to voice 
their dissent publicly in this new 
environment. They say that in en- 
tering the marketplace, nonprofits 
risk blemishing their pristine im- 
age, which has long been important 
in winning contributions. 

And the management of 
nonprofit administrators have been 
questioned. “Nonprofit organiza- 
tions are less skilled in enterprise 
than in delivering social service,” 
said Edward Skjoot. president of 
New Ventures, a New York-based 
consulting firm specializing in 
helping nonprofits to earn income. 

The end result, consultants fear, 
is that business mistakes matte by 
nonprofits could affect an organi- 
zation’s ability to fulfill its service- 
oriented or charitable mission. And 
others fear that nonprofits that 
rush too brashly into profit-making 
could lose sight of their original 
mission. 

“The stakes are great here,” said 
Lester M. Salomon, director of the 
Center for Governance and Man- 
agement Research at the Urban In- 
stitute, a public-policy research 
group in Washington. “If the non- 
profit sector continues to lose gov- 
ernment support and is forced to 
begin focusing on different types of 
money-making ventures rather 
than on its mission, its basic char- 
acter could change. Its ability to 
deliver services over the long term 
could decline.” 

Only about 10 percent of non- 
profits are engaged in co mm er ci al 
enterprises, according to the Urban 
Institute. But that list includes 
some of the most prestigious names 
in U.S. cultural and educational 
life, such as the American Museum 
of Natural History, the San Diego 
Zoo and the National Audubon So- 
ciety. which allows companies to 
drill for oil and gas at its wildlife 
sanctuary on Louisiana's Gulf 
Coast. 

That number has been held 
down because of the large percent- 
age of nonprofits that perform such 
social service functions as caring 
for the rideriv or teaching the 
handicapped, groups that for the 



ft* Nkw Vert T«ta> 

Workers at the National Audubon Society’s Rainey Wild- 
life Sanctuary in Louisiana, where oil drilling is allowed. 


most pari have nothing to sell. But 

the number of nonprofits entering 
the marketplace is expected to rise 
in coming years, especially ir Wash- 
ington continues to hold down so- 
cial service budgets to reduce the 
deficit, which is likely. 

Although business activities of 
nonprofits are limited by the Inter- 
nal Revenue Service, consultants 
say. these organizations may well 
make a significant commercial im- 
pact because of their sheer size. 
According to the Urban institute, 
there are an estimated 1 25.000 non- 
profits in the United Stales operat- 
ing for the “public benefit," ex- 
cluding religious congregations, 
foundations and trade and profes- 
sional organizations. The nonpro- 
fits employ 6.5 million workers, the 
Labor Department estimates, who 
account for one of every five ser- 
vice workers in the country. 

Many oonprofits say that they 
already must cash in on everything 
they have — from the air rights 
above their buildings to a host of 
products connected with their over- 
all mission. Some are even finding 
ways to capitalize on their ability to 
attract well-heeled patrons. 

Following the Metropolitan Op- 
era's opening night festivities last 
September, a select group of the 
bejeweled and black-tie audience 
stayed on for a dinner and fashion 
show Lhat introduced Chanel’s 
newest perfume. Coco. For the 
right to reach the wealthy opera- 
goers, Chanel contributed S250.000 
to the opera and financed the par- 
ty. According to the Met. Chanel's 
corporate largess helped it raise 
$ 1 2 million in a matter of hours. 

If the entry of commerce into the 
long-sacrosanct halls of the arts has 
led to some criticism from purists, 
the opera's general manager says he 
sees it more realistically: In this 
new environment for nonprofits, he 
believes the needs of corporate 
sponsors must be taken into ac- 
count. 

“There certainly is a limit here, a 
question of how much of this is a 
good thing,” said Bruce Crawford, 
whose financial savvy has helped 
the Met reduce its deficit by about 
S6 million over the last two years. 
“But you have to be prepared to 
deliver to corporations. If they give 


you S400.000 or $500,000, they 

don’t expect you to take the money 
and ran. You've got to provide 
something that's beneficial to them 
in a marketing sense." 

A growing number of nonprofit 
administrators around the country 
seem to understand that they must 
sharpen their business skills, and 
many are returning to school to 
study marketing, management and 
finance. 

The Children's Television Work- 
shop. Which has been so successful 
in licensing its Sesame Street prod- 
ucts, acknowleges that miscalcula- 
tion and mismanagement recently- 
caused it to st umble in the high- 
tech area. CTW, believing the com- 
puter revolution would take off and 
sustain a line of educational Sesa- 
me Street software for children, as- 
sembled an in-house staff of 50 
program developers three years ago 
and introduced a children's com- 
puter magazine. 

The project sailed smack into a 
collapsing mar ket for personal 
computers, and CTW had a loss of 
close to S10 million from its ill- 
fated software activities between 
1982 and 1985. its management 
said. 

Before this setback, CTW had 
developed a host of electronic Sesa- 
me Street games and activities and 
now has 33 of them on the market. 
But they bring in only 2 percent of 
CTW’s revenues, far less than the 
organization had envisioned. 

“We engaged in much too rapid 
a buildup of staff and commitment 
before we had enough evidence on 
the sales and revenue side ” said 
David V.B. Britt, CTW”s executive 
vice president. “We still have to 
look for revenue-generating activi- 
ties if we want to sustain Sesame 
Street and other programs. But we 
are not going to be making major 
financial bets anymore.” 

The Bank Street College of Edu- 
cation in New York, however, has 
thrived in software. 

In 1981. with a S70,000-founda- 
tion gram, it developed a word- 
processing program designed to 
help children improve writing 
skills. It joined forces in 1982 with 
a curriculum-research organization 
and when the software was perfect- 
ed in 1983. Bank Street licensed it 


to Scholastic Inc. for sale to schools 
and to Broderbund for home saies. 

According to Alan Gleicher. 
president of Soft-Kat Ir.c.. a Los 
Angeles software distributor, the 
Bank Street Writer is the best-ssU- 
ing piece of software m U.S. 
schools, with nearly 400,000 copies 
in circulation. It generated dose to 
$600,000 in royalty income during 
Bank Street's latest fiscal year, 
which ended June 30, the organiza- 
tion said. 

There are risks for nonprofits as 
they assume their new money- mak- 
ing role — and one of the most 
serious involves their tax status. 

The \JS. tax code exempts nonpro- 
fits from paying federal taxes on 
revenues derived from activities 
that are substantially related to 
their organization's primary pur- 
pose. Museums, for example.* are 
permitted to reap tax-free profits 
from the sale of exhibition catalogs 
and posters. 

Bui tax lawyers, consultant* and 
nonprofit administrators say ihr 
code’s definition is still open to 
interpretation. 

"It is a grey area because there is 
no strict permissibility ruling. It's 
not carved in stone what vou can 
and can’t do,” said Mr. Skioo: of 
New Ventures. "But it's not opaque 
because nonprofit people generally 
know thaL the more overtly com- 
mercial they become, the more at- 
tractive a target they are tor the 
IRS and for private-sector compet- 
itors." 

The Internal Revenue Service 
has ruled, for example, that the 
Red Cross does not have to pay 
taxes on profits generated from it’s 
S24.95 first-aid kits. But when 
Mark Ambrose, the organization's 
project director for special prod- 
ucts. was asked why the Red Cross 
did not sell its kits in drugstores, he 
said Lhat one reason was that such 
an arrangement could raise a ques- 
tion of tax liability because the out- 
lets were so clearly commercial. 


Profitable Oil Fields 
Found, Chinese Report 

Return 

GUANGZHOU. China — Re- 
cent discoveries in the Pearl River 
basin south of Hong Kong indicate 
the presence of small to medium 
fields of light oil that will be com- 
mercially profitable, a senior Chi- 
nese geologist said Wednesday. 

Chan Sizhong, chief geologist for 
Nanhai East Oil Corp.. which han- 
dles exploration in the eastern part 
of the basin, said “Lhat each discov- 
ery is better than the Former one." 
The strikes have been made by a 
partnership of Phillips Petroleum 
Co. and Shell Oil Co., and by a 
consortium of Agip SpA, Chevron 
Corp. and Teuco Inc. 


We prefer to putthe gold 
in the bottle, not around it. 



S£r — “ 




gSffit 

mm 


When you make a great beer, you <iorft have to make a great fuss 


E*XR 







































I 


Se> 

H 


Wt 

5.0 

X 


X 

3# 

x> 

Es 

Pr 


CQ 

5J* 

X' 

r 

x- 

2J 

1 

24 

2 

ES 

Pr- 

SO 

5.» 

6.' 

7- 

7/ 

6-' 

6. 

4.’ 

6. 

5- 

4- 

E> 

Pr 

IS 

IB 

« 

21 

It 

1! 

It 

14 

If 

1i 

Es 

Pr 

SO 


Es 

Pr 




Page 16 


INTERNATIONAL HERALD TRIBUIVE, THURSDAY, NOVEMBER 28 , 1985 


ADVERTISEMENT 


— 1 - ■■■ ftUVtKI ioc/Vtcrs 1 

INTERNATIONAL FUNDS (Quotations Supplied by Funds Listed) Nov.27, 1985 

... ... . . ... . ... A*. ^.■M.flMtulMlIlinkaWVKC. 


^^.“AMSANAOeMENT 
'«> A'-Mol Trust, XA 


Net asset yah* quotations are supplied by the Fuwfc listed with the vemMa aot. ta me tmfei b oot on toWPrtff- 
The marginal symbols indicate frequency of quotations ma11«4;(41-Ml9: (w)-woofclir; tbl -Mmoattihr. W-iWUWlYI (>1 


Irreguivtr. 


Trust, XA 

BANK JUUU5 BAER A CO. Ltd. 
- 2 1 BPCrannrt 

jd> Conbcr 

/2J | qu !baer America 
■(2J foulboer Europe- 
‘ s ( E oul uaer Pacific— 

< d l Orobar- 

jdlStockbar 


MPfK^FUNDS 
1" lntwt»nd Fund _ 
•iw) nterourrencv USX 


i t "i«airTmcyg» 

■! w l nlereurrtncyDM 

twl imereurreocy Storting - ( 1X98 

W! nteroauiry Pacific Offer S 1042 

B*2«»S w,tvN - Anwr - OHer _ S 1X47 

BANQUE IND05UEZ 

■idl Asian Growth Fund s 1U7 

!«l Dlvenxnc sf v^40 

(SlFiFiSr^ 


" <d l E’F-lnternotionoi 
}wl FrF-Paetfie 


S 1S7J9 


SF 914JQ -( w ) FAC Atlantic 


SF inUS -Iw) FAC European 


. S 1209400 
SF 1432400 


iF 1432400 FIDELITY FOB 672, Hamilton Bermuda _|-IW) uro. iv. 

SF 120440 -fm) American Values Common— S 9X2 1-tw) DoHor Lnna Term 
SF HMI4C -(ml Amer Values Cum-Pret— « S lQLZjHw) josemMeTon 
5F 164040 -lfl j Fidelity Ainer. Asads— - * 

-I d 1 FWelltv Australia Fund — 

5 128.45 -( d ) Fidelity Discovery Fund 

' 1020 -l d l Fidelity Dir. 5vos.Tr 

,( d I Fidelity Far East Fund. 

- a i Fidelity inn. Fund 


3058' 

1048 



Id) Indosuez Multioonds A 
( d ) Ithknuez Multibonds B 

-tdllndosuez USD 1VLM.F) % >u 

BRITANNIA.POB 271. SI. Heller, Jersey 

-(*> Bril. Dollar Income S D 

-{Wl Brm Menna rurr — S IliJU 

■( d l Brit, mild Manoojwnf s i.iw 

Idl Bril. IntLsManog.Portf— c 121* 

1 »> Brit. Am. Inc A Fd IM S 1.140 

Iw) Brll.Cold Fund S 0J3?" 

I wl BrltjAonco.Currcncy t 14.71" 

( d 1 Brit. Josan Dir Pert. Fd_ 

(wl BriUersev Gin Fund 

tdj Brit, work) Lois. Fund— 
d 1 Bril. World Tech a Fund . 

CAPITAL INTERNATIONAL 

■(wl Capital Inn Fund S *542 

-(wl Capital (to Ko SA s 19-23 

CITICORP INVESTMENT BANK ILinO 


1.195 

o.m 


im 


Ul_l K-UWr IRVcSTMen I BANK 1 

FOB 137} Luxembourg T*l. 477.9SJ1 

• a i ciiinvest Ecu ecuiou.15 

d i ai invest Liquidity 5101x73 


• U t UlUIVra 1 inmnir, 

CREDIT SUISSE (ISSUE PRICES! 

Idl Actions SulUCS SF 479 J5 

Idl Bond Volar Swt SF 1005 

I d I Bond Voter D-mark „ DM 10644 

idl Bond valor US-OOL LAP — * «£« 

1 d I Bona Valor C Sterling. 1 10046 

l a I Bond valor Yen . Yen_1DI6740 


Idl Convert Valor S«vf . 


■ Hr HHII1H1 I VUIHI tf”* ... SF 12140 

(d I Convert Voter us-oollaP- s 12x3! 

(dlCanasec SF *85-00 

■( d 1 CS Fonas-Bond» SF 79.00 

■IdlCSFonosinri SF IJ140 

I d ) C5 Monev Market Fund SH0440 

' 0 > CS Money Markoi Funo_ dm 106240 
d I CS Money Market Fund s 104640 


d I C5 Money Market Fd Yen- Y 10007*40 

d I Sneralt-Volor SF I47JS 

dluuec . SF 81740 

d ) Guropcj- Valor - SF 18850 

d ) Pacific -Valor • SF 15950 


■IOI rUUTIL -VUIUI ■ — - _ ««■ 

□REXEL BURNHAM LAMBERT INC 
VVInctiesior House, 77 London well 
LONDON EC2 C01 9909797) 

•iwl FlfWbunr Groun Ltd S J2X38 

(ml Wlnc-Yester Dlversllied S 19 O- 

iml wincticsier Financial LM. — S 

-Iml Wlnctiesler- Frontier * 10240 

-t w ) winchester Hold inos ff 10X89 

S 12X0 

•4 wl Worldwide Securities 5 5U2 

I wl Wortrf.vtde Special S 144348 


DIT INVESTMENT FFM 
■+1 d ) Conran Iro. 


-+t d I inri Renlrnfond- 


DM 

DM 


3448, 
92.18 f- 


Dunn A Nargltt 6 Liord George. Brussels 

-iml DAh Commodity Pool S 34154 

(ml Currency & Gold Pool •IS'S' 

-Iml Wlncn.UfeFul. Pool- — _ SSS9.74*- 
-(ml Trans World Put. Pool __S 81X41 
ESC TRUST CO.tJEHSEYJ LTD. 

1-3 Seale St-£i. Heller ;0KU-3*331 

TRADED CURRENCY FUND. 

S(d>c2w!:^Ii<fZl!s '^BO^ferTUfslSs itwj [-mras inti 
INTERNATIONAL INCOME FUND "tt * 

-( d 1 Short Term ‘A (Accuml — S J-® 3 ® ■+J V »| UU- ITaUUhS 

-I d 1 Short Term -ft- roislri S l.«W * Llovds int I N Amerlea 

-( d I Shari Term 'B 1 (Accuml — . S 14953 -+C w 1 Llevda Inti Pacttlc 

-t a 1 Sheri Term 'B* tDts.tr> 


-Iw) Lone Term 

| FK MOMT. LTD. IHV. ADVISE OS 
1, Laurence Pauntv Hill. EC4. D1-42M480 


2X1B|N)MARHN 

Id ) Class A . 


I-Iw) FAC Oriental. 

FIDELITY POB 671 


S 11W |-(w ) Class c - joboi— - 
S 1X79 OBLIFLEX LIMITED 
’wl Multicurrency. 


i 31 JH 


7540 -(wl Pound Sfertfno- 
1IJI -Iw) Deutsche Mark. 

1044 (wl Dutch Florin — 


1 12x33 -Twl Swiss Franc — 

S MJB ORANGE NASSAU GROUP 


-, d 1 Fidelity Orient Fund— - 
j.i d 1 Fidelity Frontier Fund. 
I d ) Fktelirv Pacific Fund. 


76.53 I PB 85578. The Haaue (0741 469070 


■Id 1 Fidelity Sod. Growth FcL 

-{ d I Fidelity World Fund - 

FORBE5 PO B887 GRAND CAYMAN 

London Agent 01-419-3019 
(wl Donor ineame S 


S 3X49 
S KW 
$ 15X57 
S 1443 
S 3858 


4w) Forbes High inc. Gilt Fd 
-|w) GoW inOBme- 


(w) Gold Aoereckrtten 
-lm! Strategic Trading 
GEFINOR FUNDS. 


lH 

9X70 

846 

4J1 

140 


-Iw) East investment Fund, 
(wl Scottish world Funa — 


-( w J Stale St. Amertean . 


S 41AM 

E 13X33 
S 174.28 


I London :0l-49'l423L Genevo:4t-22355530 

I GLOBAL ASSET MANAGEMENT CORP. 

, PB 119. St Peter Port. Guernsey, 0481-*n5 

,-(w } FutufGAMSA. » 

-lwi GAM Arbitrage inc. » J 

•in) eAMerleo inc * ’S- 1 .? 

.( w) GAM Australia Inc * .9*^1 

■(wi GAM Boston inc * 

-(wl GAM Ermllaae * "'JS 


(wl GAM Frnnc- 


SF 119.75 
S 10054 
S 14441 

S 12074 

(w) GAM Norm America Inc.. — S 11555 


■<wl GAM Hone Kong me— 
I w I GAM international Inc 
Iwl GAM Jspon Inc 


■( wl GAM N. America Unit Trust— 11245 P 
■iwl GAM Pacific Inc * 139-17 


IlwlGAMPenxAOw.WwIttw.-. 108MF 


-Iw) GAM Penx & Char 
.(w) GAMrlnl 


..... - — — — — _ n , S 11X2) 

■(w> GAM SJ)>p«>ore/Maiay Inc — S 9X90 
■(wl GAM Steri & inti Unit Trust-. 153.15* P 

-(wl GAM Worldwide inc S JrtJO 

-iwl GAM Tvene XA. Class A S 127.13 


G.T. MANAGEMENT (UK) Ltd. 
-(d) Berry Pat Fd. Ltd. 


( rl G.T. Addled Sdenee—— 
.( d I G.T. Asean H.K. GwttkFd- 
-Id) G.T. Asia Funtf 


-( d 1 G.T. Australia Fund 
-( d 1 G.T. Europe F - 


1 -( w 1 g't! Euro. Small Cox Fund. 
-( r 1 G.T. Dollar Fund 


.( a ) G.T. Bond Fund. 


-I d 1 G.T. Global Technlov Fd 

•l d 1 G.T. Honshu Pathfinder 

Idl G.T. Investment Fund 

-I w I G.T. Jooan Small Co-Fund _ 

rl r I G.T. Technology Fund 

l-f d J G T. South Chino Fund 


1150 

1440 

1X69 

443* 

26.18 

I4B 

1423 

1X44 

1244 

1X18 

3047 

2X97 

4X59 

2449 

1X06 


HILL SAMUEL INVEST^GMT INTL. SJL 

Jersey. Pjd. Ban 41 Tel 0S34 74029 _ 

Mrer P.O Ban 2022. TO 4131 ZZ40S1 

■(d) Crossbow (Far Eosll— SF 1040 

(a) CSF IBalanaja) SF 76^ 

■( d 1 European Eovlty Fun d— ■ DM 1142 

■(d) mini. Band Fund S 10J4 

.( d 1 int. Currency U4 S 2648 

-(dj ITF Fd (Technology)—* * IS-Jf 

(fl) a Seas Fd (N. AMERICA) — S 3X4* 


JAR DINE FLEMING. FOB 7* GPO HO KO 

•( r I J.F CurrencvXBond. S 047 

( r I J.F Hone Kona Trust — S 3744 

( r I J.F Pacific income Trust — Y 2585 

l r ) J.F Japan Trust — — Y ,4484 

1 r I J.F Japan Teehnaioov Y 19.405 

( r I J.F Pacific SeCS.(Accl S 741 


, LLOYDS BANK tNTL, POB 438, Geneva 11 

10.990- J-f(w) Ltavas Itrtl Dollar s iix« 

-*(wl Lloyds inti Europe SF T2X» - 

-H « I Uoyds Inri Growth |F J73-M ( 

S 10 SSS I 

SF 134-00 luihnv r n»<K"Y 

UoyS ini'i. Smaller Cos_ S 15J4 iw) Dreytus !n ter continent 


Uw) ClssaB-UJ. . 


Ti tOMl ll"i FUrfMaritUd 


Iwl First pool* 


[-(wl Doflor Med fum Term. 


.DM 

-FL 


S 19,16941 
S 94149 
. S 1041 
SF 2DU0 

, S 729 
SF 6621 
S 35,92 

liw I ! 0 S FrertKl-ffiS'lnleStoBL — DM .4147 


(w) Fixed Income Trons. 
1220 (w) Fonaolen leeue Pr — 
1140 (w)Fori 


1140 1 (w) Formula Selection FtL. 


.SF 


1059 

1X13 


■fd ) Lib am swrawwpii 

PAR15BAS-QROLP , 

!-( a ) Coriexa interactional . 


■ 3140 


■ibi) OBLIGE5TION. 


ECU PAR. 
OBLI-OMj 


OBLI-DOLLAR. 

obli-yen. 


% 9X05 

ECU 103720 
DM 123425 
_ SF 9WK 
S 113X30 


OBLIOULDEN. 
PA RQtL-FUWO. 


Y 1041X40 
. PL 105X33 
_ S 701.15 

. S 1141 

S 129J7 


ngi PA RE U ROPE GROWTH 

-Id) PARI N TER FUND — - 

-(d) PARINTERBOND FUND; — . S1X4S 
-C d ) PAR US Treos. Bond B - S 11 m' 

ROY*LII.(4IUMJ>08 W^GUERNXEY 
-+(wl RBC Canadian Fund Ltd-- 5 1J4B* 

r4Kwl RBC Far EastAPactfK Fd_ 5 1231 

M-(w> RBC I nt*l Capital Fd. S 3W3 

rf(wl RBC (rtf'! Income F(L- — J 1J20 

jss 

SVeNSXAlNT EH NATIONAL LTD , 

17 Devonshire Sa-Lond«v0!-377-8040 

<-( r ) SHB Bond Fuita——. * 

-Iw) SHB Inti Growth Fimd S 2X37 


SWISS BANK CORP. (ISSUE FF’CES) 

-Id I AmerietFVaior SF 50X75 


-(d I Dollar Band Selection. * 

(d I Florin Bond Selection FL 12W 

(d) Interv cjor— SF 87^ 

-( d 1 JcBion Pdrtfoilo SF ?0X50 

-( d I Sterttno BgW SeWrttaj -t 1»M 

-i d I SwiM Foraten Band Sel— . |F 

-( d I Swtssvalor New 5«fe* SF 3050 

-(d) Universal BoroSeiee*. SF 

-(d | Universal Fund S F IH43 

-(d) Yen Band Selection V 10487X0 


jNIWIBANlcffnYITTERnAND 

■'S^,^z== !| ^ 
|| 

d ! linKJ wck A ^i“» SF 71X50 


0 H lOMlK^EST ME HT 

-Id! Unlrenta DM 4a» 

-Id) UiDtandS DM 79-^ 

<g}iflg, K NS = ^ 


Other Funds 

(w) Ad moods Investments Fund, 
(wl Acttvest (ntl , 

Iml Allied Ltd 


Iw) Aouita l nl erect tana I Fund — 

r 1 Arab Finonae i.F — 

rl Artane 


(w) Trustcar Inti Fd. IAEIF1 

(w) BondsMe*-lssuo Pr. — — 

(m) Canada GI*Mortaage Ft 

(d) Capital Prmttrrv. Fd. Ml. 

(w) Citadel Fund 


(m) Oeveiond Offshore Fd.. 
(w) Columbia Securities. — 
' r ) COMETE . 


(wl Convert. Fd-mn A Certs 
(w) Convert. Fd. Inf'l B Certs 

(wl Daiwa Japan Fund 

w) D.G.C. 


S 23.10 
5 12-10 

S 425 
S 179.74 
S 94440 
S 191744 
S 1082 
SF 137.15 
. S «44 
S 11.71 
S 142 
. 3 210148 
FL 1X149 
S 92002 
S 1140 
S 3343 
Y 10458 
S 97.95 
S 104X00 


i hi Dndar^oer bond Fd - - — 

l d 1 D-mark-Baer Band Fa__ DM KDOOO 
d)D. Witter WW Wide lvtT«L_ j XO 
r ) Drakkar invest. Fund N.V. — S 121748 

d I Dreyfus America Fund 5 1042 

d I Dreyfus Fimd lull-- * 4093 




i d ) FondDallo — 

I d ) Gavernm. Sac Fund* . 


(wl Hou5smaf.n HW bx N.V.—- * ’37 J3 
iwl 


tfatfta Funds. 


Iw) Hartal Fund 


lm) IBEXHoMlnosU 
r) ILA-IGB- ■ 
rl ILA-lGS 


d> interfund Sf ■■ 

Iw) Intertharfcet Fund 


S 10X82 
. S 133X55 
5F 11X95 
. S 9.95 
S 1040 
. S 19.12 

d) InJ^TninoMuLFd. a.'B 1 _ 5 8M-1* 
r ) inf'l Securltto Fimd * HS 

!m) J^r Pfnx iW Ltd— —— 


I w) Korea Growth Trust 


(d) Leicom Fimd 


(w) Lurtund 



I w > Leverage Cop How 
( d) Liourooer 


(ml Masoafund N.V 


( d) Mediolanum Set Pd. 
( r ) Meleare 
(W) NAAT 


(d) HikkoGrowtn Pockooe Fd— 5*5*^* 

iS!SSfECpSisi5= l^S. 


I1U RUJlfcterHiiHtiiN i 

Iwl Novotec investment Fund — S 97^ 
(w) N-A-M-F I 171-« 

Id) Pod^'Horlion Invt. Fd_HZ— S 
Iw) PANCURR1 line. s 71-2* 


(Wl rAHVeUW n II !?- ■■■ _ • . 

( r I Porton 5w. R Est Geneva— SF JW740 
( r 1 Ptrmal Value N.V Simrt 

I r > Phi kHlt* siltfii 

;ip3X»iN.v * 5^2 

I w) PSCD ]OTL N.V — ■ J 10544 

id) Putnam Inn Fund— — J 7X1* 

(wl Qu^itum Fund N.V. — “,F W440 

(d) Renta Fund. ■ — 

( d ) Rertflnrast LF 10^58 


1 a I * ■— r- ■■■- — — - iefii mi 

I d ) Reserve Insured Deposits — *11 21 23 

( w 1 Rudo« W o Hf F ut Fd Ltd S 123XM 

(w) Samurai Portfolio. ■ SF 11940 

;d) SCI/Tech-SA Luxembourg- S 1144 
w> Seven Arrows Fund N.V... S 944.10 


w I atven Arnm» ryna h.y ... . — • 

w) store SI. Bonk Equity KdgsNV— S 1X13 
wl Strategy Invtstmwll Fund — * 24-78 

d) Syntax Lfd.' ICJossA)- * 1)51 

w> Techno Growth Fund SF 6145 

! d 1 Tharnion AustraUaFd Ltd — » 970 

:d 1 Thornton HK & China S 1020 

d 1 Thornton Japan Fund Ltd— - S 323 
d ) Thornton OrienlJnc-Fd Lfd- S 1040 

:w) Tokvo Pee. HaU-tS^oi » JJ142 

Iwl Tokyo PaC-HoW. N.V S 1024 

w) Transpacific Fund * ’£’2 

wl Tran* Europe Fim d- F! 5077 

d I Turauaiw Fund S 12142 

wl Tweedy. Browne n.«.CI oss A— 5 2BI22 
Iwl Tweedy Browne n.v.ClasB— S <99246 
;m) T w ee dy Jrawne (UJC) n.v — * '01984 

d I UN ICO Fund °M 

d) UNI Bond Funa 5JI5-]? 

r j UN) Capllal Fund S 131744 

d ) US Federal Secu rites S 1046 

d I US Treasury Income fund S 

w) Vanderbilt Assets s 1X37 

d I World Fund SJL S 1190 



Wednesdays 


mex 

Qosmg 


Tables Include the natlon«vMa prices 
up to I he dosing an Wail Street 

otid do not reflect late Trades elsewhere. 


13 Month 
High Low stock 


3b Close 

-Ptv. Yia. PI 100sHiohLCMiQuor.Cn-oe 


(Continued from Page 14) 

22*9 19V. ProoCT 140 U 13 15 19W ')93b 1949— u. 

23 IV ISVa PrvEns 144 74 9 4 23V2 23t 23K + v a 

34ta 30 Vk P ol plE *87 1X3 7 3219 22 32V» -t- IV 

fYi n* PuntoG J m «y— vt 


1 




a 




1 

lOto 

Sta Ouebss 

.14 

13 


16 

Bto 

Di 

Bto 

1 




R 




1 

7to 

SVj rai 

^3r S3 

20 

» 

6to 

6 '/S 


5>6 

3ta RMS Ei 




4 

3to 

"Jto 

3to +- to 

Mto 


.13 

5 

45 

10 

2016 

19to 

20Vy + to 

20 

15 Rcmsbg 

37 

45 

3B 

60 

18to 

l7 ?r 

17to— 16 

Ito 

to Ralflff 




26 

V, 

PS.— v. 

154% 

11 Raven 

.<3 

35 

1 

31 

1?W 

iTto 

12k» — to 

We 

6to RtlneT 



13 


lOto 

into 

IDto 

17% 

16 RltSon 

l-22e 7.) 


10 

I7to 

17 

17V. + to 

2Y. 

l'A RlfSO wl 





lto 

1% 

ito 

5W 

1% Red law 




20 

3to 

3 

3>a + to 

li'.y 

HWj ROKJJB 

SOb U 

14 

14 

Mto 

16Mt 

lito 

SOto 

35% Resrf A 




M* 

4S)% 

440h 

45 + to 

52% 

«0 ten B 




10OZ49V1 

40V2 

«9to— to 

6% 

3to RS1ASB 



11 

33 

4*% 

6 to 

frto + U 


3Y4 RS7ASA 



10 

17 

6 

if) 

t + 'i 

4to 


,10o 25 

12 

4 

4!A 

JU 


12Y» 

9Vs RiWElP 

JO 

1.9 

IS 

60 

into 

10% 

19% 


144% RtoAlO 

^0 

35 


42 

\Kft 

1516 

15% 

l*(v 

Bto Rckwy s 

Jfl 

1.7 

22 

RS 

16VS 

16to 

)«%— to 

ypu 

)7to Rogers 

.13 

5 

20 

1 

iw* 

1*9? 

106% -6 to 

Sto 





77 

lto 

1% 

lto + to 

7 

34% RavPIm 




22 

6te 

61% 

ito 


22to Rudick 

560 XI 

10 


26to 

25to 

2»v«— i% 

33W 

22% Rudckpi 

56 

Z2 



29)6 

254% 

254%— to 

8to 

446 RBW 



fl 

IS 

Bto 

S 

fto + Va 



JO 

U 

U 

a 

19to 

1* 

19U 

29% 

164% Rvkoff 

50 

25 

13 

it* 

73 

22to 

22*. 

I 




5 




1 


1% 

3to SFM 

10 

1 

4 to 

4to 

4 Vo 

Bto 

7 SFNPCA 


81 

8 

8 

B 

5 

2*6 SMD 

10 

ISI 

346 

3to 

3to 

10to 

44% Sage 


33 

7to 

7to 

7to 

9 

S Salem 

It 

12 

54% 

ft 

54% 

lto 

4% S Carlo 


2 

1 

1 

1 

9 

6to SDgcpf 

58 1X4 

2 

Bto 

Bto 

Bto 

*to 

ato SDgo of 

.90 1X1 

2 

Bto 

Bto 

Bto 


87*6 72 SDsopf 
75 38 SD9d Pt 

24'< 19*6 SDga pf 
29*6 34’- SDaoPf 
26 20*. SDOOPf 

30 21 '6 Sandgle 

14'h 13 V Sanity n 
S’* 3^6 Sanmrk 

7 4l: Sound B 

4*6 4"i Sound A 

II 


984 1IJ 
740 1D4 

247 I0J 
44S 122 

248 104 
JBO XI 


431 84 11 
.15 19 7 
20 38 8 
120 1L9 


046 

7 SaxnOn 

1 JO 

U9 

17Vj 

11V% giuiTo n 



S 




30to 

17*6 Scfieib 

56 

1.9 



a 

A7 

74% 

34k SciMOt 

.10 

15 

33to 

llto SdLsg 





53 


20 

12 '- ScurRn 



2 to 

■ l- 1 ' v.| 


15 

15*6 


.16 

4%. 

2 SelsPro 



lto 

r> SelsDIt 



4to 

2 to Somtcti 



14'0 

04% SrviSCO 

35 

25 

Llto 

6 to Servnfr 

561 

72 

13 A. 

Bto Sheers 

IJJOo 79 

14. 

to Snarvn 



ISto 

9 Shopwls 

.16 

15 


20 


J0te8iU 8436. tpv +) 

TOO* 7S 75 75 

5 24 2314 24 + VJ 

13 3M 38*A 3>U 

1 2SV. 2SU, 25> — V» 

16 26'4 25V» 25V- —1 
86 14*s 143% VIS. 4- to 
51 m 5 5 

1 Sbi 5>A Six 

10 5>A 5V. + kb 

3 iatk >0(4 iota 
15 t*% 


127 17W 

10 3<4> 
30 29% 

1 10U. 

49 5*6 

49 UUi 
2 k 33% 
1 1736 

11 136 
74 103% 

116 
347 
32 3 

1 113% 
16 12 

2 12*6 

248 Vr 

20 116 


8 Vs B*% 




14(6 17 — *6 
3 'A 3 >A 
2916 29*6 
10'J IQ 'A 4- to 
5*6 5*6 
12 to 13 — to 
33<6 33)6 4 - 1 % 
77*% 177%— 6i 
1U 1*6 + to 

10*6 ins— to 

\ V* 

23 - 2 *L— to 

113% 113% + ’6 
11*6 12 
12*6 12*6 

M> + J 3 

11*6 11 H— 


sioo- 


r>i». via FC 


16'6 

15'.» 

IS 1 -" 

7 to 

IS- 

J*% 

23. 


2 3 

10 1 


.101 

20 


4'. 5ler-f5n 

hi ;if. Sc n 
7'. Sierra 
4 SH;o 
e'.t J Ikes A 
3 to Shvrcs: 

_ tJK, SmthA 
22th llto SmtnB 
JH. 24’« Smthpt 
9to 5** Sol I Iron 
7 SorgPr n 

8*4 IcIVof 1.07 10.0 
8 to SCEOPf HW .J’ 
9to SCE0P( 


I) 15 



80 
80 
2 13 


16*6 

1 

ION 

11(6 

)2to 


3T6 

I2to 

lito 

3 

Sto 


Ml 


M 


, '■ 1° 100 

14*6 H *6 SCEdol 145 10b 

24 15 SCEdpf 2 70 9 7 

23V« 17*. SCEdPl L21 

751» M SCEOPf 758 102 

SB 70 SCEdPl 6.96 ’O- 3 

2 r % SwBepn 
S’6 spencer 
3to Swidthn 
to Spool wl 
_ . 4to SIHavH 
21'A 1414 5tarrlH 
TO'4 6L S telex 
4 to SlriCeo 
I to Steel El 
14 sir IE j. I 

5*6 SlerfSIf 
l'-s SirulW 
3to SumitE 
. 2*6 SuhSL 

2% to 11 to sunjr 
39to 21 to 5i»rFd 
116 to SupCre 
4 supines 
llto SusrSr 
3*i Sufbueh 
Ito SwftFng 
19*% Swifiin 
3*6 Synoluy 
«(% SysiEns 


?m-r cn ^ 

% i!g-ia §i'\ 
| ^ ig ti-it 

ri 23 S'.* ”. . 

8. ^ *zz •: 

V 'O’* tbi. 4 Iff- 
I la-', into 107* ^ * 
<o ii ■> i’> 1“ 

.li §5 p-* g - 

2!| 1=. ^to H'* + '' 

« t S5 Si* 


1A« 


5 

IP 

« ’■ 


57% 
2 to 
U 
tlto 
2 T 6 

7 

8 


85 13 
.tee 18 


.721 67 


a n 13 


*ta 12 14 


13*6 
18*6 
4 to 
2to 
28 
Mb 
14*6 


1^0 


U 8 
10 11 
3 
10 
4.9 


10 18 1 1 


,5lj ,7^ I**!— 'V 

Sto 8»* B*S 

!! ft ft 

.n I?* '!'* * * 

1: lu 12 

i? 72*6— *6 

‘Si .£2 & ss^S 

IK 18-6 17*6 W 

2 fto lS ’46 * to 
* Wto 3**3 54V: 

rl £“ k ft*- 


9to 

10*6 
12 *. 
2) to 
9'.% 
17V. 
4V* 
3to 
22*6 
77V6 

4 

70'- 
2*6 
238 
414 
38% 
11 ’6 
lt‘6 
5*6 
4*6 
10'i 
58to 
20 
7V» 
30*% 
316 
5*4 
13*6 
34'% 
62 to 
9to 
16*4 
2*6 


831 X9 40 « 


-0 


22 
12 i: 


4*4 T Bor 
496 TIE 
5to Til 

13to TatjPrt 
6to TaOdBr 
101. Tasty 
21% Team 
Ito TchAm 

9*. TchSvm _ 15 

44 V% TechOp 7.894112 l« 


80 3 A ’5 


.18 2i 


1 00c JJ40 


13 17 

XA IS 


Xto Tecf.TP 
lOto Techfrl 
11* Technd 
97 TelcnR 
Ito Teiecon 
24 u, TeiBex 
S'* TelDta 

4'u Telsci 4® 

2to Teiesoh 

J Tennev JB 

4 to Tensor 
215% TerCdg l JO 
7*% Tex Air _ 5 

4Uj Te>AE Set t? 

14*6 Te*AE p»287 139 

4% TborEn . ; 

34% ThrD A .10 IS 15 

llto Tofus 

28Ve TolEO Pf 425 130 
51 TolEdPl 7.76 12.. 


& ft f- g 

inc 7*s 7 P'9 

I7to )r.» I7*% 
40 9 a 91* 

S 17 15*. 14Ta 

2 3’. 3'- ^ 

33 r. 2^9 » 

^ S5 kZ 

3! IS " If? 

8 1% 1 : — 1 1 

r» * ** 

J-j 3*9 S 

, f) ^ 

g; 2?**l 2^ 

1370 1%to 14’% 14to 

x IS 1 * 13 li? 


— (6 
+ to 
+ to 


+2 


a . 

C*: ii- 
16 
35a 
3% 


+ *% 
+ u 

— to 
+■ to 
+ to 

— a 

+ to 

+ to 


Unlv , 

UnrvRu 80e 48 

UnvPot 


, •«:*, ;i>6 * 

It- : i 
ir: hi "ms-j 



.14 

.11 


5 

.94 A 13 
14» 7d W 

16 


30 3 O 

.JA 


JO* .7 
1J2 UJ 


.16 ii 


4- *. 


x 


2H T oriel 


14 


8*6 ToMPI 0 


19*» 

I6to 

11% 

IS 

8 

3*. 

22 *% 

31*6 

10 

3*6 


. TOlPTWt 
8*% TmsLk 
tav% TrnaTec 
ljto Tranmn 
71% TriSM 


>11X0 


163 Uto 11 

25* 3=:. 32- 

iCz6! 61 
10 C 3 


llto 

324% + *6 
Al 
3 




6to TrioCP 


M 37 
44 30 
Me AC 


Trktee 
Tb TubMex 
1046 TurnB n 
22 TurnrC 
Tto TrnEan 
Ito Tylrwts 


1J0 50 
.15e LB 






lito + 




ir-* 





14 A. 

U“» 



in 

10 




14*9 

14'- 



jy 







7to 

2*% 



tr-s 

ITi 




24- 

74 





Bto 



6? 

1': 




39% 

3to 

|9H 

13*6 

15*v 

11*6 

23to 

2)4 

2 

16". 

22to 

8 1 * 


V; UNA 
2 USR Ind 
8*6 Ullmle 
Bii Untcora 
11Vr UnicPF< 
8*% Unlmar 
1541 UAh-Pd 
Ito UFoodA 
lto UFaodB 
llto UtMed 
12*j US&Gwt 
P-4 UmlrlV 


15 

23 

J S Si 
1,93*1X0 
.54b 13 14 
•ID 6.7 


22 l'l l'r ito 

"0 2’-* 2'-. S'* 
ItC) 20' o 19to I9to 
34 12 »lto VT* 
33 15 14ii 14^ 
156 11 IB"* IB*, 
rtto 23to 23;* 
I’Y Ito 1'* 


14 

72 

103 


l*% 
. 2 ' * 
13to 
6=1 


146 


1344 1J44 

6%. 64* 


— 46 

— '.6 

— V* 

— ’l 
+■ to 
+ V6 
-v to 

— 46 

+ to 


3*% WTC 

7 WlkEnn 
15 WonaS 
14*% WoraC 
• f%WmC«9f 

Sto WsbHs 
76 WshPlt 
)5 WRITS 
66k Watte A 
7*4 Watte B 

13to Wthtdpf ZB 17.9 

8 WgblRV n 
to Webinwi 
to Webcar 

24* wedCB 
7)6 WedBtn 
744 wedteti 
4to webnan 
8*6 WeUtrn 
4*6 WeBcu 
9% vyedArn 
2"- WefGrd 
20*6 Wesca 
*6 WeSBCP 
5to WslBrC • IB 

846 Wsthre X >5 
6to WDtgitf 25 

7to vriHimn 13 

16*6 Wt RET 188 7.9 W 
(P6 W&ISLs X 19 5 
11*6 VMtrEnc 19 

2to wienua - 

3 W)ck«« 9 

*4 Wicket wf 

70 WlcLeiPrt-50 *8 
' • WKaern .40 48 7 

Ito WtnEB 
Jto WinEA 
llto Wiatln 13M11JI 

8 waslrm 80 48 34 
1196 WkWear Si 2 a t 

34% IVMftE . 

12*6 WUUePMXO,T70 

9 wortbn JSi 

16*4 Wrathr ID .1 27 


412 J* 

2733 i* 3 10 7 

t « 

104 ** 

® IFx’f* 
.06 155. TM 
» IS-. 18 
*3 *4. 6*- 

3 Bto 

Jta 2> 

14*9 1498 

8 JT* 


4. . 


I, 9U 
jtto IT'-* 
_ 41* 44% 

10 tCto IO'ij 
7 ir.% i3 : - 


ii- 

7% 

1*U + to 

1* r to 

*, 4- 'A 
ia*9— ta- 
nk — , 
i*:- ♦ ^ 
eto ♦ i* 
e*a + 'v 

lib + '• 

to + to 
3 + to 
?Vi— w 


JO'.T -6 VT 


111 1 


*)l> 


ES 




■■•J f 


s .’MM 


, ; .x- - At 

.vtiw 


•V - 


■Ito 

•>: i 

•• 


..-“V 

. a* 


ja ii is 


Ar- 
il k 


67 131% 13 


94% V. 

n »7*» 
19*6 r?to 
14*6 >4*6 

«f ^ *4%% 

2J91 4** 41 


1519 

» 

2 

n 


'5! S K 

365 29*6 29*6 
1 9 9 

52 8>A * 

SB 44k 3~6 

86 »to 13-* 
31 9 1 - 916 

I2S 221* 21*6 
142 3to 3ta 
33 15 14to 
302 llto 11 
213 I7ta 17V6 


,3 -h- IV, 
}H +■ to 
39*6 + *6 

«=6 + «•■ 
'l. z - i 

I2T6— 'Sr- 

ir» + *i 

J4*%— u. 
16% 4- to 
2*6 + to 

» '< * ** 

irk— v. 


4’- + to 
4ta + **• 
19 ♦ to- 

916 

21*6—46 
3to- to. 
15 *■ to 

llto * *6. 

I7V» 


Bto 5ta VonkCo 


2t 7i% 7i« r.% 


84% 3*6 Timer JBi 


.73 51% 5 


A!V!EX I l^jhs-S xfws 


NEW HUM 29 


Astrax 
CDICf 
FIC aottHW 
Hudson Gen 

Noel indust 

PLI0 434P1 
Sand y CO p 

WarkWeor 


BIcCps 

CandanWta* 
Fmku'o s 
1 te rmor* 
Male* Co 
PUB 8400* 

Teleflex 


Banks Mfe 

CrwoCnPef 

HoBvCora 

Moot IV S 

OMOArrCo 

PoUCotp 

uthawi* 


Bkrisinass 

CrwnCnPpf 

Homws 

Nkminsrn 

WJWFnct 

ReooiBei 

WlkrEovn 


ounFroetB 

ChBiCOnwt 
WeBOinv n 


BSOBCPn 

Uoplndus 


CmXCp - 

inlfBkniwt 


CoraEntA 
Tofu s 


The outside of a plane tells you 
a lot about the inside. 





.w. ?r 


Coupon Next BM Askd 


Dollar 


iSHter/MaL 

UsDolkir 

Allied Irish 95 
Allied irbn 92 
Allied lump 
AlHedlrtjbPrrp 
Arab Bite Coro tin* 
Atlantic Fin 89791 
Au lac Stas 9J 
Ben Ceram flat 9* 

Ben No: Imran «i 
BceOiNapaun 
Bra Di Rasa B9i9l 
BcODlRaeayl 
BcoScaioSprriioTi 
Bca Di Sjdlio 9? 
Bongkok BkOUMlhlvt 
Boa Caro 97 IMfWy/ 
BkBasiapODICoo! 

Bk Greece 91. to 
Bk Greece 93197 
Bk MetstekJ *» Jrtmir 
Bk Ireland 89 
9k Ireland *2 
Bk Montreal *6- 


Codpob Next Bid Askd 


7%. 13-1? 99.90 IK) 90 
S'. W-04 XXDo'31'S 
8. CM*. 9599 :au& 
7C-C59L3 9X75 


r* 1FC99J2 994U 


B( Montreal n 
New York M 



Lufthansa 


BkNewYdfkM 
Bk Nova Scotia 381*3 
Bk Neva Scotia** 

Bk SCOftcnd Perp 
Bk Tokyo «3 
Bk Tokyo S7 
Bk Tokyo FebBX-9i 
8k Tokyo 0^-91 
Bankotherf a 0»5 •* 
BankrriTrvsHO 
Bonkers Trust 9* 

BtiCOMHHK 
BOB Fin 87191 
Bod *7 
BM Int 95 
BM int 99 
BM MfJtMMr) 

Bo IndOBtez97C<iP 
Ba indosoaN 
Bue89 

Bice 97 l Cool 
BfceJonBB 
B Ice *9 

BaiadG»ez97(Cap) 

Bno9J 

Bnp97(Cap) 

BnptSHI 

Bnp 86/96 

Bne9* 

Bnp 88/91 
BnpJuiM 
Bnp 05 (MUlly) 
BqParttwsPtra 
Ba Worm* 89/M 
Barclays BK Perpnew 
Borc)avsO/595 
Barctevs 0/s Pera 
Bar Govs 0/S M 
Betelwn Perp 
Belgium Docrt/0* Min 
Belgium w (MHilvl 
BetelumocuasiMth) 
Befglixn juBS 
Belgium 94/M 
BeteiumOetM/M 
Cca96 
Ccce05 
Xoca 9Q/»5 
CnrOO 

CibcfSasiMitilyl 
OM29M 
Obc 9* (Wkly) 

Obc** 

CarteretS+LM 
Central Inf 97/00 
Contrast 92/9) 

Chase Mon O/S 93 
Chon Man Core <9 
Chou Man Cora Oo 
Chase Man 97 
ChemJcatW 
ChemkajittlWWvl 
Chemkri JON o»99 
ChmUctnFWi97 
OomicalOa 97 
Oirbtkmla Bk91 
CTirWtoWa BkM 
Chrysler 92 
OHcornOS 
ahcorBAugWWkly) 
ailcanjSepM 

ancorpRTw>96 
CJJlcoraW . 
CilkcoraM 
ailmraPerp 
Ctlcsn>Proo97 

atta>ra2nK 
Comarco93 
Coroerl ca 97 
Com merit* FOtf 
Commera* No*W 
Carom UrtJ Montreal 91 
Como Phi Oc97(Mtfrl 
Cnundl Oi Europe 93 
CrWk»93 
CCf86rtt 
CCf *0/95 
can 

Cd97(MWy) 

Ccf 92 

Ceome 57/92 


86 . 

XV: 

r% 

B<% 


Sto 


99 J0 

59% 07-15 90 94 iXCK 
8 (6-12 9997 SKIT 

86, ltd* ICC2SICCJ6 
1 6 TM7 998S 9995 
7*. 09-77 99.94 7*W 
8Jt7S2*-ll O0J3 09 j; 
jr. 2MI 99A1 99.7; 

JSuA W - 99 J- 
Fa 11-31 *7 AC *X£3 
Sh. y-’.JVSSl 91.92 
S*. ;24J999S10C£S 
5*t I5« 9SJS9143 
«Si 1X108=95.40 
6%. 724a«25 0CZ- 
ss M;«*3iKiii 
IS J7C100J£WiC 
as. 2Wi ;60J)tCI6t 
!'.2 JM 4 VSHiiX n 
TKI 7054 0»94 
JO-54 \7iBiX32 
110 = H£o 2 :M.t: 
U<3 9973 »9 G 
I; :«* IXXIX.IS 
IS 2MiV»iS:0O2S 
r. OeJS 1003412.10 

r* ii-.: tooxcBXM 

r* jw:«ejiwjs 

lu I (-13 99.PI I ADC 
27-12 U0221CU2 
1K2 ;ax'3iax2j 
- 9900 106X0 

5T. OM? 0735 9125 
IH, P--.2 >00.1110071 
89- 11-04 ;0XI310t>22 
8 17-04 WiS 99.95 

Is »«WJA09» 
86. 24-03 10X8610X9* 
•to a-;2 icoaoioc.15 
8*. IM7 99JO09J3 
r. a-31 09J7 10057 
U. 1M2 TUUIDX23 
Ito 1MB 99 Si 9964 

8»% 0W77 iCLWOtJB 

5to 21 -Oi 9930 TIM 
Bto 31-01 tcoooiec.10 
8'* in: iwJFcaJi 
7*. 05-12 10X0110011 
■Vi BMatot niDLn 
8‘. 22-01 9997 HWB7 
6 17-04 9966 *978 

Bto IM210Q881MJB 
Bto 0MB IOQflSiao.15 
8%% 07-01 10056100.14 
» 31-01 lOlXTHlLn 
6to DI-OS I0X38T£tU6 
|9. M57 100.1410X24 
Bto 1WB 1 0050 100. 10 
Bto 18-12 99.97 10007 
Bto 284B 99.95 10X05 
«*% 28-07 998! 99.92 
8 to 1731 9986 09J6 
»to 0931 1KL9C100 13 
Mb 1MM 10X1TTOL71 
M% 1231 lOQJOlOfl 40 
81% 1833 10X1010030 
8 09-12 K0551QX15 

8'% 13-12 1005710X17 
8*» 2633 99 a »9 JJ 

Bto 3431 loxtsnxis 

■ 30-11 9553 9X4B 

8to 71311002510X50 
Bto 29-11 99A1 «9J3 
42 TS 12-05 99.97 100X17 
Ito B231 9957 9947 
8to 3(31 UXL50100 40 
Bto 05-12 10X0010X10 
Bto 123! 995**954. 
8to 2632 9920 9*00 
8t% 27*12 10X2410X34 
9052 9147- 
Bto SMI »64 99J4'. 
Bto 7832 9947 90.77 _ 
Bto 0931 9945 »JS 
ito 1332*9.90 II02S 
a'.e 0633 10X0010X75 
9to WD 98J0 99.U 
LM2S27-I29IJI 9951 
Bto 1WE »650 9155 
84* 1012 9*53 99.9J' 
m 3131 10X06 wo 
79% 503T 99.40 9950 
Bto 12-12 1010*11000 
ito 1531 9950 10050 
Bto 3131 10X0530X15 
X25 2735 9945*955 
1MJ 9952 9957 
Bto 27-1 J 99.10 99 JS 
Bto 2132 99.97 10X07 

•to ams loxmooa 

Bto 1833 9*45 MXM 
BY. 1235 9959 904* 

8*6 2134 99.95 NODS 
8to 2*31 9191 99JI 
Bto 2633 10XD4TM14 
8*%' 0934 loamoua 
4MJ 7732 99.9* 10X04 
Ito 7733 9953 Wai 
84} 1034 18X1310X23 
i'm 12-12 >0X4010X50 


I CrDuNord77 
Cr Fon&er OC197 
Cr Fir Eraaft?7 
■ C> '.rcnncu >3.'M 
• Cr Lrt)icxus90.-77 
1 Cr Lroraai* B*flf 
j Cr LvonncisrtAS 
Cr LvoransS* 

Cr L » annuls jor?2/*4 
1 Z-'-yeraoisv/iCepi 
C' L«onr ai500 
: CrLYenmisJuntCft 
: Cr National M 
I Cr Ifctionai 90/94 
: 'jNrtbnwoc 
Creditensfolt?* 


r. 

B-i 

B1% 

r ; 

61% 




CreMkrd Sav Qfl2*7 
Couch. <oeavc9i 
i ten M W (MarfrJ 
' Den Ncrske Oc0O 
. Cenmori JordBi90 
\ Dernncr# Get 88.90 
; D-t-'ie'kWW 
LwE/steOestoiY* 
Dcevl-rt- Pa 93 


2431 1005510015 

C94I90.9B MU* 

2331 MXSOKtt 

113* 0X6710X72 

0934 IDXMmUB 

0831 7005S100J5 

■9-11 Humui 

27-12 100J5UM4S 

2)31 U0J2WU2 

0732 99J5 994« 

1M) MO 8710X17 

16-12 MJlMfl 

7131 MXtSWUS 
_ _ 113) 10X12)0822 
8425 203! UU4M029 
Bto 133! mmotat 
r. 27-02 10057)0X17 
76% CS-a 99.91 toxn 
»« 9*55 99^ 
1MB Hsanoojg 

093? OUSMLtS 

19-124950 
093) 9995 

iso* ii :: 

1932 MX6IH0J1 
2»3! mornatn 


MWtarCBSpecp 


MdOOdbtfQ 

MWoadbdar 

MMaedmn 

utatanaura 


WhuiFtatafCwO 

»AWFto96 


Mia Bk DM92 
N0bf7(C0PI 


IL 

Bto 

r- 

Bto 

7%% 

Bto 

Bto 

Bto 


Bto 

Ito 

Ito 


tvs 

Bto 


rndnrPinft 
• CfesSner Fia*2 
Ed£ro&N=9r 
: EdiW 
! cdl WtWalvl 
; |ra:0C TS(*ittfI 

[ EaD9) 

! curerr Pa - core 97 - 
I Em 90 
i Eec«5 

■ EsfefiorlntOi.to* . 

Ferra%to95 (MtMvl 
Ferrone 92/99 
Ferro vie «ov 97 
FuibBKtoo uuuntvt 
FmnabPaicr 907*5 
Rr«8os«on 91/94 
First BkSrst *6 
FifStBb Svst9J 
First Bk 5*51 MW 
First Chicago *7 
FirslOHcngo92 
First Chicago *< 

First Citv Tcu» *5 
First Inter «! 

Ford 91 

FfrtuneS+Lrt 
FufllntM/96 
Genflaonci B9/97 
Genfiaance WM 
Gib» 

G*72 
Gib Peru 
Gib 96 
Giro 01 

Gi AmerTi isi Sav 92 
Greol Lakes S+t 97 
GI Weslem 92/95 
GrmdiaysOj 
GrfavSays** 

Gi western 89/9* 
wn Samuel 94 

HUl Sarmitl Pera 
Hbpaao 91/VS 
. Homestead S+L 95 Cop 
K ang Long Perp 
HkShawboiBkPwp 
Hydra B2(utalvt 
Hydra 85 (MUrt . 

KS9J 

lcetaKJ05rtO 
latoaeilamm 
161 Nw«S 
Ireland *6/99 
•"Inland 97 
IrvfcsufW 
IsveimerM) 

IsvNmerfz 

IfOlvW 
Itch 09/94 
IW*r85 
C llob 87 
Jp Morgen 97 
Kopt=eft9j 
KemirnOvTJ 
kJelnwort Betv91 
KlebmartBeDM 
KJelnwart Ben Perp 
Korea Dev Bk 86/89 
Korea Ewn Bk 85/88 
Lincoln S+L 99 
Unfin Cora »5 
Ltovds B* Perp 
Ltords Bonk Pew 
Lk>yd*93 

LlBVdi7: 

UewfcB* . 

Lieh92 t 

Atakiysia 94/09 

MotoyNo 00/15 (Mini 

MataydaAnrXf/92 

MaJavsio DecM/W 

«4otavsiaB8/93 

Malaysia 00/05 

Mon Han 74 ■ _ 

Moo Hon 97 

Man Han 9t I Wktr) 

Mar Mia fa 

~Maf M/dm 

MOTMM96 
MCXrp97(Mmiyi 
Mellon Bk N - 


S£«S. 


Bto 2*119*97 ..... 

1: SSJSfSSS- 

ft scssna 


Ito »«f96l ft JO 


tu 

S 

Bto 

r% 


l^wui 


ito 

*to 

Bto 

Ito 

Bto 


1 17-12.9055 9tJ 

Z73? 9950 
263)9996 NON 
0601 9945 19* 

Z)-n waxnoxu 

360 WJ5 99951 

3832 WXOTWOJ^ 
1535 9956 ft J4| 
- 9*50 rim 

3031 ttJJlij 
29-11 9955 ■■ 
U32 9U5 90JS 


I 99 JJ 


2M1 9950 J9^ 


7432 9950 

■ 0732 9970 99 JO 
KM2SII-07 99JO 99J0 
Bto 2HN995D 9950 
M 2231 9108 9450 
Bto 0612 9958 9998 
■■ I53S9950 99JB 
2431 9951 997)1 

ttOIMOOBWXM 

a-c iDatwwaioi 

2131 UAMtaUS 

1537 MX01 18X14 

1V12 18X38 IBM 
U35 99.MI99JS 

JM1 IffUXWl-M 

27-12 waanoiJ* 

U34 99J4 **54 

643J 9X08 99.15 

0612 9X50 98J0 

7733 T0X2K9838- 

8332 10X2*18X38 

2403 99 J9 99.47 
2733 99J2WX12J 
29-719X75 9175-1 


M 


fto 


3404 99 JS 10X05 


0 )%' 

% 

-Bto 


Bto 

ito 

a 

as 

Bto 

ito 

ito 

ffto 


Biy 

Bto 

Ito 


760 9X95 
U32 W90 arm 

063)9973 99 53 

2131 9956 99 Ji 

0135 99J7 *957 

1531 99 J5 WX25 
_ »3I 9957 9957 

Ok 0934100500X15 
Bto 263518X8018015 
Bto 1733 10XW10B26 

Ito 2*02 10XfilKB.il 

Txai MxnnoaJo 

1235 99 J) 18X0 

1132 9954 9974 

0633 10XBTMOJ) 

IMS WXHWOta 

29-11 9927 9X17 

263310X1510X5) 

2M2 

0332 11 
3to 2M7 
Bto 2032 K&00 

S33 1000210X12 
29-11 9950 9955 
. 05-12 9950 10X9 
0934 HOMMOJO 

72-12 995B 9970 

143 U NLH 

B9-1218Mnn.ll 

7132 99 ju 10X04 
... 303* 10X9718157 
Bto D*-n 10X5410X55 
Sto 334 10X1618X74 
Ito 29-11 W024WU* 
7H W-H995D99J0 
I 1S34 9BJI98J1 
l*% 803t-aUM8.il 
Ito 05-12 10X0811X15 
BH, 2837 99J3 10003 
Ito 03*9X28 9958 
Bto 29-11 99J7 10X07 
Bto 2*32 9952 9952 
Bto 1932 *858 9X75- 

Bto 0931 uxaomts 

■to IB-12 99 JB IBUO 
ito 19-12 99J2 IBXBJ 
■Ik TA31 9850 9850 
Bto 29-11 Hunieuo 


ito 

ito 


ito 

tto 


AVIS DE REMBOURSEMENT ■ 

AUX PORTEURS D’OBUGATIONS DE L’EMPRUNT 


VILLE DE MARSEILLE 

u.s. $20,000,000.- ioy+% 1974-1986 


H est port*- 2 b cotmx&id/uY dcs poitcurs d'obU^ationx %(Ue. confonofemefH 
aux coorfidons dee obligarioM, la Bamjue International'? i Laxonbocrg 


S.A, en u quxtile d’Agwit FinaiMtrr dc I'emprunL a proeftfe au brage au 
sort relatiJ a Ja tranche d'amortiffienicnl ac C-S, 964,000.- veaui i 


£cheance le 19 decern bre: 1985. . • • 

Conipfe lenu ties obiisations racherods ou tineeb au earl aateriaunsaaU at 
com pie lenu des obngatiois prrsetilfira au. tcmbouisAtteal au git deo" 
port ruts en 1981, ii rraulte du tinge au sort que It* oWimtiofts numbot£ea 
comme suit xmt rembwr»bUss a 102W* i panir du 19 dScerabre 1985. 
No. 351 i 352 iudu 
.No. 1071 a 1132 torias 


Elies dftiveni cl re presentees, monies des coupons non encore echos aux 
puichete des agentt pa%Yuis mentionnud Mtr less obligations ffl dans' la 
ptuapectie- ifcmissioo. 

Le moatant oouiina) des obligatiuna res taut en circulation aprfa le 19 
defembre 1985 s’clrvera a Ui S460.000.-, 


decembre 

Obligations rcrnboursaWes au 19,12.1984 er non encore presences an 
rembouisctncnL 168-lTO; 210: 3t8. 

BANQUE INTERNATIONALE A LUXEMBOl.nRG 
Soeiile Aaonyme 

• Agent financier. 

Licurnbouig. Ic 28 nor cm hrf 1985.' - - 


Nat Comm Mklitat 
Km mat Pm (A) 
Hot West P*n>m 

Not West FM 91 
HatMtafFtaOS 

Not won Pm (O 


. _IWMt9* 

Nat wS Fin 92 . 
Not Won Rn pap 
NeMOvM 
HowZaohadl/ 
IbSMDNR 
NMtfcM9l 
OkbIX . 

Olb 94 

OfcWff • 
ofMamnUotti 
OftawraMokaH 
Pirafflflrt* 

PBC« 

PkionkMiam 
QuMMtand(eo>)96 
_ "tW 


an 


■,&r 

■Sp?m 


RCPNvTS 

SS*“‘* S 

RWPeoi 


.jfirn. 
itatFMI 
SomwMPatMW 
SmaUtan 
3cnad!Pfc)*prt3 
Sooodi FlnDocrt 
Scohpwl I«t92 
SocPkMC 97 
90CPBC«Cf7 
SBmnotC«(p97 

sSwo 

Stem) 89 

stetam- _ . 

Soc Goa 90/93 
SocGeoMarH 


■to 19-129954 UX54 
89% 1M3 TCXlinObTO 
Bto 2Mf WXIZHB2? 
Ito 34-0 NX2WOOJ0 
B 0947 0X6510X73 

• 2834 MX34KB54 
Ito 043) UX5MXU 
Ito 3831 94 JS 91 5S 
Bto B4C NX2BHBJ0 
Ito E4H9M2 99.97 
•to 19-12 99.90 1003 
*to 3031 9950 99.M 
Bto JXn 99.72 9957 
71% 23-12 993195) 

Bto 8631 UMJOML13 
846 M32 tOXllMUl 
•to 2)31 MUU8050 
81% 183418X3410X34 
■to 2732 9956 007# 

IT, 143* 70X7210X22 

253? W 70101.90 
IMS HBMNIOO 
2732 1088019X10 
8934 10X1510X25 . 
7612 0X1719027 ' 
Ito TJ3S IMS 10X2$ 
H% 33SWXUWX2* , 
Bto 29-11 1007510150 1 
■to 113410X1310X23 - 
•to B4U HXI1HX71 
Ito 2331 moo 
Bto 2732 9950 1KB0 ' 
■to 0-129*52 99 J2 
». IH29T9S axis 

•to OamMn so '■ 

Bto JFD 9055 99.75 
Ot D3I99JI9MS - 

£ S5W8SS 

3% 1601 I0M7UXJ2 

• 3-12 100010X19 ‘ 

■fe •» 

•to 2931 10X2710X37 < 
•% 19® 995* 10X04 


Bto 

■to 

Ito 


¥ 




I fine* r of > 


■ £_U? 


r-:«^ 

P>jrt* 

nm 


-ft 

3(f- 


•;aafc' 

,.k.6N 

-H«fr 

* - 


'■'^r 

«r 



IVir 


44.-: *-»■ H m, .y 

t-. ■),, '.6 ..-a*8u ■; 


•to 1536 9*75 10050 

» 21-09 


_HJ905I 9»JI 
Bto 3*33 WM510X5S •- 
BW n® 9?J0 9951 
IX BM3 99J7 90J7 
•to OF® 9X50 99.12 


ito 3631 ?00fln«.ra 


Soc GOD 97 
SK*9t 

50*9207 

'tMAM 


Spoil 99 
Stood Chart ot 
Stand Chart 91 
Stand Chart MortO 
Stood Chart Mbmafch 
SM+CWPm . 
So<oBfemata57 
SmBoaoTstti/n 
92 


ito 

ito 

ft 


Bto 


02/«fMJWrl 

SwfttonV/99 
Sweden 93/03 ' 

S— d m Fora 

TafwN*6c97ICBP) 

TaftoCEAM 

TofcBBb)92/N 

To*a«g*nD»97 

ToaosCnramerorfr 

Tokm AND 94/99 

Tordom92 

Tort T*t 92/99 

Tvo94/B* 

Ub Norway »t 
D bWorwcy^* 
uid Kimdom 98/n 
VMl* Forgo Sad 97 
WtoXs Forgo 92 
WoIH Fargo 00 
Wed* Forgo Feb 97 
yres»Poc97 (Can! 
total G*yn 91 
World BkPtap 
World him 
Yokohama 91/9* 
Yokohama 97 (Coo) 
Zentrateknwn 


«fc 3A224 . ... 

8»* 03-129951 10X11 
■to W-T29IJ5W25 
Ito X433 MUB10X2S - 
•to DC 108.1210X22 - 
•to 0735 WX551MA5 .. 
■to WO 1 00.771 BL27 - 
•to 2035 10X441BX59 
■to 2732 100.1710X27 - 

K SSSfiffl • 

01% 2M1 9959 (0X04 • 
•31 10X1510825 ' 
3M5 TOXBBIDXB v 
1133 18X00 
0331 49 JB 9450 - 
. . 0735 100541MU 
ft 29-11 9957 10037 - 
ft 7M7 «Xt77«27 . 
•to 1933 9950 99 JS . 

76% ss-nuaninm 
76% 1801 99X2 9957 ' 
76% V34 9927 99J7 '• 
Bto 29-11 9959 9954 ' 
18X0010X25 V 
ft 0*31 9959 18X04 * 
■to 0732 99.16 9924 ". 

•to 2MSua3*r8XM < 
Bto two 1002710X37 ■ ' 
Bto 0934 99J0 IBUO . ■ 
BVi 3431 9955 9956 

ito rc-n toxtoUBJ* . * 

Bto U-02 10X3710052 
• W-12 19X1510X23 '• 

ft own 9X50 9X75 - 

•592SK3S 9950 r 

ito 21® «X7S 7*35 ». 

Ito 0731 9957 99.90 « 

BVi 27-12 9959 9959 - 
■287S29-11 9957 9957 < 
Ito 09-12 9954 9954 
ft 1332 9958 9956 -* 
Bto 1832 9924 9954 %'. 

W, 1633 18X1710X27 

75S4J14-12 9950 99JX 

7JB 2 toHHUSVJS 

ito 0234 1002110X31 
Bto 1*32 09.15 0425 “ 
ito 1*31 10X4510056 * • 




ft 


:**■> 

-tft. 


& 


■ r. ; 




Non Dollar 


lO MIO r /Mot 
Abbey Nafronat 92/OB 
A)BoncH-LMcSoc93 
AlU Bkp97 
Bk Montreal 94 
Bk Now Sa»ta ee 
Ek Tokyo 88/90 
BalndoMKVi 
Befgukn** 

sssas*" 

ancnrpnm 
CflPKie 94 
Cr Fonder® 

Cr Hattoocd *1/95 
Denmark 93 /tc 
HaBfweBntt 
1RM 
irakmat) 

Ireland H 
UoyttaEuraw 
Mfg Bk Dm 94/99 
Mini u 

NaKoowideXitS 

NewZeahni97 

NZaalangV 
fifes oS 
Socf 90/93 

'Stand Chart Sto Pm 

YartcaUrc Int 9 |/m 


Coopoa Hold BM Aikd 
llto 1534 9957 4459 , 

llto 2S35 99.92 10X02 . 
lift 1*33 18X3018X40 
llto 77-12 1002910X39 . 
1172531-01 9954 18054 , 
llto J133 10X12)0063 

llto 2132 10X1611X24 
to 1031 1002210X32 ' 
11% 2234 9952 9992 
. 0834 9953 0952 - 

llto 1733 9930 9950 
lift 23-12 1003B100J8 - 
llto 0931 1 005910X39 . 
11% 18-12 1002910X31 . 
11% • 100541 0X54 

IW 67369968 9958 , 
11% ISfll MX1SWUS . 

llto 1*37 I0055M05J 
llto 86-12 10XMMU4 
11% 24-11 10X1410X24 
■ 10CUBKKL30 
a £« 1005710X0 

llto 0B34 *956 9*54 . 
I»S M32 99JB99J0 
JJto 1*« 1U3 » J7 
llto 04-02 9952 09 J2 
J»to 3*0) KB5S1OX0S 
!Jto )8-12 9&63 9050 
llto 27-12 10X1010X20 


£/" 


Loo ^coi -' Cmm Sofss*-tnrst Boston Ltd, Z ' 


Bergesen May Merge 
IsSh^-Owning Units 


Reuters 

(MU) — Trading in the shares" 

Sj J er ®f seD DY ^ su^xmded' 
Wednesday on the Oslo Stock Ex- • 
change after the Norwegian ship- " 
P mg group said its six ship-ownS* I 
subsidiaries may be merged into ! 

OHfi-Crrhanoih lirtaJ aa *■ 





iiWrc 


.JT-ALuange company. j 
“ fgesen s statement said that an J 

'reement had r_ _ . a 


» ^ aalu i- 

h ? d not yet -bceni; 
reached by major shareholders A? 

E£5&r * dectined te3r53' 

further details. Stock exchange an- : 
SjSJ? - thc tnove ccSdte the.- 

avaitebte to ouJdel^Sr 






INTERNATIONAL HERALD TRIBUNE* THURSDAY- NOVEMBER 28, 1985 


By Sarah Lambert 

Roam - 

LONDON — More and more 
-foreigners are buying ■ London 
property, fading a boom that is 
making Britisb.bridcs and mortar 
one of the world’s most solid in- 
vestments. 

Noi-ftitons setting a Enmparf 
base have long been attracted to 
London. But undescpinnmg the cur- 
rent boom is the capital's extraordi- 
oary growth as a financial center, 
accoidmg to teal estate biotas. ’ 


■ «. - o up aoj r- 

v mly once London annnmwff it 
would deregulate its financial mar- 
)\ ta >w year, a move expected to 
attract many foreign finanrja l op- 
erators to the capital . . 

■ “What with the lure of deregula- 
'■ v non. toe prestige of British educa- 

• fctica, and the country’s soda! xiafrn 

>ty. people think London is toe 

* most wonderful place to Eve;" said 
N Victoria Mhchefl, head of the Lon- 

don residential property depart- 


ment of SavOls, a leading firm of 
msl estate brokers. 

. And, with house prices in toe 
most acdusiyc London areas rising 
35 percent.to 50 percent over toe 
last two yean, property represents 
one of tbebesi low-risk, high return 
investments available. 

At Urn top end of this market, the 
best return on capital is made from 
converting bouses to apartments. 
However, because of the heavy 
down payment required, toe fi- 
nancing for such- developments is 
usually arranged through, a private 
consortium. 

While some buyers want a Lou- 
don house to Eye in, many pur- 
chase property simply because of 
its investment value. 

Mrs. Mitchell calculated that in 
the last 15 years the London prime 
residential market has out-per- 
formed the Financial Times all- 
share stock index by more than 100 
percent and more thaw kept pace 
with inflation. 

Nevertheless, many real estate 


jeny noom Singapore Reports 3.5% Decline 

London is more than just financial In Its GDPDuringthe 3d Quarter 


THE EUROMARKETS 








. . “Leaden has more to offer than 
most of the world’s other capitals 
and is siiD considered safe and civi- 
lized," one said. 

; He added, “I sold a five-bed- 
room, two-bathroom house the 
other day. It had a view over the 
golf course, was wuhin walking dis- 
tance of two schools and only a 10- 
xoinute drive from the heart of the 
dty. Where else can you get all that 
for under £500,000" (about 
5735,000). 

Most brokers operating in toe 
£80,000 to £200,000 and upwards 
house market said Foreigners and 
British nonresidents accounted for 
anything up to a quarter of their 


David Petty of brokers Barrett 
Central London said: “The main 
trade comes from the Far East, 
Hang Kong, Singapore and Malay- 
sia- O.S. buyers aren't as numerous 
as some people think." 


Reuters 

SINGAPORE — Singapore’s gross domestic product fell IS per- 
| cent in the third quarter and is likely to post a 2-percem dedinefor toe 
whole year, according to toe Miziistiy of Trade and Industry's 
quarterly economic survey, published Wednesday. 

GDP grew by 8 percent from July to September last year. In the 
second quarter of this year it registered a 1 .2-percent decline after no 
growth in toe first quarter. 

Gross domestic product is a country’s total output of goods and 
services, minus income from operations abroad 

Construction had toe worst decline, a 16-percent drop, compared 
with 15J-percent growth in the third quarter of 1984. it said. 

Manufacturing output bad a 10-percent drop, compared with 8.2 
percent, because of poor world demand, toe survey said. Commerce 
posted a 4 .2 -percent fall from growth of 5.9 percent. 

Financial and business services registered 3-pcrcent growth, com- 
pared with 11 j percent last year. Transport and communications 
grew marginally by 0.9 percent, compared with 9.8 percent. 

A total of 80.000 people lost their jobs in toe first nine months, 
more than half of them in construction, toe survey said. Employment 
shrank in all sectors except financial and business services, it said. 

It added that fourth-quarter prospects were Weak. 

Meanwhile, prices oo toe Singapore Stock Exchange plunged on 
Wednesday amid heavy selling. The Straits Times industrial index 
dipped 20-29 points to a 41 -month low of 69731. 


New Option Opens on Euromarket 


By Carl Gcwirrz 

Jnienuttumal Herald Tribune 

PARIS — Income warrants, a 
new breed of options, were intro- 
duced Wednesday to toe Eurobond 
market on behalf of Banquc Fran- 
$aise du Commerce Exterieur. 

Options to buy bonds are not 
new, but options that pay interest 
until they are exercised have never 
before been seen. The debut was 
well received, as the five-year war- 
rants, priced at 5100. ended toe day 
at S108 bid, SI 12 asked. 

The French state-owned trade 
bank put on toe market 300,000 
warrants bearing an annual coupon 
of 9W percent, or 5935. The war- 
rants give holders toe right io buy 
at a discount of 90 percent of face 
value a 9tt-percem bond maturing 
on March 16, 1996. 

The 10-percem discount pricing 
to exercise the warrant, meaning 
investors have to put up 5900 to 


The Power of Paranoia 

(Continued from Page 13) said, when toe Dow held at 1,300, 
^ ,as 2®“®? *“ 5x1113 research even in toe face of continued bad 
shows Wall Street overall at "fair economic news. 


Company Results 

Revenue and profits or lasses, in minions, ore In local currencies 
unless otherwise Indicated. 






tiecuac, Gerber Products and Mr. Teznpcrli said toe bank is 
St ^ a i?o° iJ ^ adding to positions it began buying 

a ^bullish," back then. Tecta oIogyTui ere be 
noted Walter Temped], who directs noted bearish sentiment was stron- 
mtema&onal. investment strategy gest, has been the major focus. Top 
for private cheats al Zurich’s Bank choices have IBM, Prime 
Vontobd. “But it’s still Dot exag- Computer, Motorola and Tandy. 

Caterpillar Tractor remains at- 
He points out that there is mote tractive among capital goods 
volume on days the market is up stocks, with Godd heading the spe- 
than during declining sessions. dal situations category. Bencfida- 
Tm feeling comfortable, at least ties of a de clinin g dollar inrbnfe fh* 
for toe tone being," he added, chemicals, he said, phis these indi- 
“However, don’t forget the Dow victuals issues: Polaroid, Procter & 
has surged more than 100 points Gamble and Schering-Plough. CSX 
and that has exposed Wall Street to is toe favorite railroad, 
a technical correction-" “But this is a stock market where 

He said the bank turned positive you can do some sdling," he said, 
toward U.S. stocks two months “Some sectors are over-extended, 
ago, in a contrarian reaction to the such as foods and soft «ra«l« 
prevailing “consensus negativism. 1 " We’re li ghten wig positions in Coca- 
Then, the toning looked ripe; he Cola." 


Brltaia 

. Unlsafe 

i« Hoff ins ISM 

rmou* 97 i n tax 

Pretax Front 3M 25.* 

Per Shore 01# 0u073 


Bank of Montreal 
4» Own*. ires ISM 

Profit* *1.7 7X4 

Per Snore U» an 

Year 1*15 1M4 

Prom W: 2«X4 

PerShan ITS U7 

GentflS 

3rd Oner. IMS 1M4 

Revenue U&7 ms 

Profit* &4S SM 

Per Snare 0M 043 

t Mcnttts INS ISM 

Revenue 3*02 xxj 

Profit U.1* 1032 

Per Shore LSI 1.15 

UnkiMlStatM 

Brownins-Ferrf* 

•tti Quar. ires ISM 

Revenue am* Vta 

Nel toe. 31 J 7A9 

PerShore OJv 072 

Year IM5 ISM 

Revenue i.ua mml 

Net Inc. 11U M3 

Per Shore 320 Tot 

Fiscal IRU nd fnctudes pre- 
tax cnoroes of 33.9 million In 


Quarter ana ret mutton m 
rear from smttlemetu ot int- 
ention. 

Fleetwood Enter*, 
tad Quar- ISIS ISM 

Revenue 3003 30&* 

Net Inc. no 12.1 

Per Snore— 047 DJ2 

1 ft Half ISM ISM 

Revenue £2*1 6543 

Net Inc. 22J Its 

Per Snore — are 

Hormel (GeaAJ 
4te door. tsu ISM 

Revenue au «X3 

Nel me. lui 7i* 

Per 5nare— 072 03* 

Year 1S85 ISM 

Revenue 1.500. 1,450. 

Ne« me. 30*2 29A* 

Per Shore XQl 1J3 

Net and net eer shot* tar ott 
periods restated lor a 2 dor-i 
Stock spur ot soot i IMS 


PtUUlpt-Vao Heuscn 
3rd Quar. ism ISM 

Revenue — 187.1 T7SJ 

Nei inc ore 7J7 

Per Shore— 1,0 134 

S Mounts ISM TSM 

Revenue— 421 J 4201 

Net me 115 1X4 

Per Shore — 2X0 2 .14 

IMJ rovenun Include sain ot 
S/mlilkmln Quarter and SHU 
million la * manna from sate 
of rotaaeperation. 


Rohr i ndus tr i e s 

Id Quar. ISM 1*M 

Revenue 1544 14* J 

Net Inc 1X1 11-5 

Per snare US 1X7 

Super mar He n Geo. 
3rd Soar. ISM ISM 

Revenue lJflQ. 1,150- 

Net hie 1U 104 

Per Shore til US 

> Monro* ms ism 

Revenue-—. X77H xoio. 

Net Inc - -- 4X1 303 

Per Stare 235 1.20 

Swift independent 
4111 Quar. ISM ISM 

Revenue— 025 79X2 

Nel inc 032 ore 

Per Snare W 030 

Year ISM ISM 

Revenue — X09O. 2.970 

Net Inc (0030 1157 

Per Shorn — 232 

a: loss, l fOS net include pre- 
tax choree Ot STM mUUoa 
■from reoUoomcnt ot opera- 
tions. 

Toys r Us 

3rd Ouar. ISM ISM 

Revenue 37*. l 37i J 

Nel inc 7M lore 

Per Stare— MS 0.12 

SMeattu ISM ISM 

Revenue 1.100. BUJ] 

Net Inc 31.07 3152 

Per Share 037 037 


CURRENCY MARKETS 

Dollar Falls Again in Europe 
Despite U.S. Trade Figures 


Ccmptlallv Oar Staff Front Dispatches 

LONDON — The dollar fell 
Wednesday against most European 
currencies in hectic trading, despite 
a reported reduction in the U.S. 
trade deficit. 

Currency dealers said bearish 
sentiment about the US. currency 
continued to grow in the market, 
causing the dollar to decline for toe 
fifth straight business day. 

The Commerce Department said 
Wednesday that the US trade def- 
icit narrowed to SI 1-5 billion in 
October. The deficit was smaller 
than expected and was down from 
September's record deficit of 515 J 


Although the trade report fust 
boosted toe dollar, currency deal- 
ers said it later retreated after Com- 
merce Secretary Malcolm Baldrigp 


was quoted as saying that more had 
to be done to cut toe U-S. trade 
deficit. 

One way of reducing toe trade 
deficit would be sales of dollars by 
central banks, which would depress 
its market value and in turn make 
U.S. goods cheaper abroad and for- 
eign goods more expensive in the 
United Slates. 

The dollar eased against toe 
Deutsche mark to close at 2.5495 
DM in Frankfurt, down from Tues- 
day’s 2.5689 DM. Much of toe 
trade was technical as operators 
covered short positions ahead of 

toe Thursday's Thanksgiving holi- 
day in toe United States. 

in Tokyo, toe dollar ended at 
200.65 Japanese yen, down slightly 
from Tuesday's 201 . 10 yen. 

( Reuters. APj 


buy a security nominally valued at 
51,000, erases the 5100 offering 
price of the warrant. Thus, in real 
terms to investors, the cost of toe 
warrant is the 512 premium at 
which the options ended the day 
and the discount a 9>4-percem 
bond would currently be worth (at 
least 2 J A percent). But that discount 
would disappear if interest rates 
drop over toe next five years. 

In toe meantime, the value of the 
warrant should increase over lime 
because toe discount exercise price 
is worth more as me remaining ma- 
turity shortens. Buying a 9^-per- 
cent, 10-year bond at a price of 90 
produces a yield of 11.48; paying 
90 percent to buy a bond with only 
five years left to maturity produces 
a yield of 12!i percent. 

Socieii Generale, which put toe 
package together, said the structure 
was akin to a partially paid issue 
where investors are asked to put up 
a small fraction of the purchase 
price immediately and toe balance 
later. The difference in this case is 
that partially paid issues up to now 
have required toe final payment to 
be made within one year. In this 
case, investors have five years to 

pay- 

As the warrants bear interest, 
enticing investors to hold toe pa- 
per, both Banque Frantpise du 
Commerce Exterieur and Societe 
Gtaftrale expect that toe options 
will not be exercised much before 
the final maturity — giving BFCE 
access to relatively low-cost funds 
in the 

This results from BFCE’s simul- 
taneous offering of 5270 million in 
floating-rate notes. These have toe 
same lO'A-year maturity, but are 
callable annually at par. Interest on 
toe notes is set at 4 basis points, or 
0.04 percent, over the toree-month 
London interbank offered rate. 
The notes were offered at a premi- 
um price of 100.05 and underwrit- 
ers were paid a commission of 12 
basis pants. 

The warrants are exercisable ev- 
ery three months, coinciding with 
toe interest payment date on toe 
FRN. 


In effect. BFCE gets its $500 
million immediately — $270 mil- 
lion through the FRN and S3Q mil- 
lion through toe sale of toe war- 
rants. The FRNs are callable after 
one year at par. 

Basically the structure allows 
BFCE to gamble on a deersa^ in 
interest rates over toe next five 
years. In that case, the warrants 
will be exercised and BFCE will 
have gotten very cheap financuit. 

If BFCE raised the enilr-.- 
amount in fixed raie financing :c- 
day. it would have had tc p*;. 
least I0*.'i percent. In fact, it is pro- 
posing to pay 9 1 * percent if :r.e 
warrants are exerci-.ee In ihc 
meantime will pay a much !o-..*r 
floating rate. At present three- 
month Libor is S 3'!6 percent, 
which would pul the com of the 
FRN at 82275 percent. 

Societe Generale estimates thm 
if torce-mooth Libor averages 7 
percent over the coming five years 
and toe warrants are exercised 
then, BFCE’s average cost of funds 
for 10 years will work out :o #2 
percent. If Libor averages ! 1 per- 
cent. and toe warrants are not exer- 
cised. BFCE’s cost of funds would 
work out to 9.94 percent — still a 
saving from the 10 ! j percent it 
would have had to pay to issue 
fixed-coupon dollar deb: m today’s 
market. 

■ Market Listless 

In other trailing Wednesday, the 
Eurobond market was bsile.s. Reu- 
ters reported from London. 

In other new- issue activity. Salo- 
mon Bros. International lead-man- 
aged a 5160-million property-se- 
cured IGH-percem bond due 2000 
at 99^ for Fisher Brothers Finan- 
cial Realty Co. It closed a; about 
214, just inside total fees of 2‘*. 

In quiet secondary market trad- 
ing, fixed-rate doliar Eurobonds 
closed little changed, while Heat- 
ing-rate notes easui modestly. Jap- 
anese convertible bonds firmed, as 
did the sterling sector, on toe back 
of the currency's recent strength. 


HMonm 
HHH1LOW Slock 


5oin in hr: 

Dlv ru. TOGS Mijr. Lae : P/S. Char 














































8 


P M fa [7 je Hi [ io In I 12 ha 


1Z5 127 |2B 


51 1 52 53 M 


SOLUTION TO PREVIOUS PUZZLE, page 17 
ACROSS 46 One time 13 


1 de 

Boulogne, 
Parisians’ 
park 
5 Dinner 
preparer, 
usually 
9 Odd job 

14 Mystical mark 

15 Author Pa ion 

16 Lagomorphs 

17 Rod multiple 

IS Equip 

19Tetcelebrator 

20 Story wrongly 

attributed to 
Chaucer 

23 Kipling's 
Gunga 

24 Nosegay 

25 Music-hall star 
O'Shea 

29 Garden access 

30 What Mondale 
did in 1984 

33 A sister of Clio 

34 Bollard 

35 Partof N.Y.C. 
or London 

36 Thanksgiving, 
e.g. 

39 Famed round- 
the-world solo 
flier 

46 France, to U.S. 
in W.W. II 

41 Of some 
purpose 

42 Saul's uncle 

43 “ way out” 

44 Means 

45 accompli 

•C' Meur York 


46 One time 

47 Bird sent from 
Central 
America 

55 Formal mall 

56 Carry into a 
carrier 

57 *‘I could 

horse!" 

58 Family car 

59 Dec. 24 and 31 

60 Old kingdom 
near Media 

61 Breakfast 
treat 

62 Muralist or 
Turkish town 

63 Actor Parker 

DOWN 

1 O'Henry's Red 
Chief, e.g. 

2 Toe-stubber’s 
CTy 

3 Business-letter 
phrase 

4 Amphibious 
jeep 

5 Famed Polo 
Grounds 
pitcher 

6 Balance the 
brakes 

7"Chloe 

Milne work 
. 8 Strong dislike 
9 Rapid, gliding 
dance 

10 Kind of 
pudding 

11 "Un bei di"is 
one 

12 McCoy 
adjective 


Times, edited bv Eugaie Maleska. 


DENNIS THE MENACE 


V .1 






fflTTlfttrtifT ^ 


Y ~T\\ 






li fyll:l 

! i .trnfi 






‘The Pilswmsare the are vwh belts om their hak. - 


THAT SCRAMBLED WORD GAME 
« by Henri Arnold and Bob Lee 


Unscramble these four JurnMes. 
one letter lo each square, to form 
four ordinary words. 


REBLY 


PLYAP 


LETLIF 


BROIMD 



Now arrange the circled letters to 
form the surprise answer, as sug- 
gested by the above cartoon. 


Print answer hem: 


(Answers tomorrow) 

Yesterday's j Jumbtea: BATON PIANO STICKY CAUGHT 


Answer When demists aren't, their patients are— 
PAINSTAKING 


PEANUTS 


ARE YOU 60IN6 TO 
HAVE A BIS 
TUANK56IVIN6 FINMEE. 
CHARLIE BROWN 7 

"Trrsn 


1 SUPP05E SO.. BIG 
PINNERS PONY REALLY 
INTEREST ME-. 


IVE NEVER 7H0U6WT 
THAT MUCH ABOUT . 

veating.- y 


W TO UUHEN YOUR 
PISH 15 EMPTY i - 


books 


rx 

f c h 




St. ZB ft 1 965 UttgaCnM (^Ocnjnc 


IN SEARCH OF SHAKESPEARE^ 
A . Recon—Swnce lido die 8 
life mJ Haadwritnig 

By Charles Hamilton 271 pages- S 34.9 5. 
Harcourt Brace Jovanovich, 1250 Sixth Av- 
enue, San Diego, Calif. 92101 


Shakespeare 


and lied » «* ^ un* to pea the^-' 

playwn^^ worfs when be had a* n&^ 
deadly <toU jg 1 . . defcgaie sa& tt-J 


BLONDIE 


TONIGHT I'M MARIN© A h I THAT'S A 


LITTLE SANDWICH AS A -I I 


OP COURSE 
\rris Lrm_E 


GESTURE FOR THE 

WORLD'S ry 

HUNGRY JfTHATS 


t [SANDWICH 


J Mr TWO ARMS IS A )M STRANSa-Y ENOU0H, P' 
] &I& SANDWICH < FOR HIM IT MAKES -V 
-tSENSE 


SHAKESPEARE AND OTHERS 


THATS NICE, 
*1 WONEV > 


i i«r j, 


By S Schoenbaum. 285 pages. S 28.50 L 
Folger Books, 440 Forsgate Drive, Cron- 
bury, N.J. 08511 


Reviewed by Robert Giroux 


13 Homager’s 
cousin 

21 Philologist's 
interest 

22 Seabees’ "Can 
Do" is one 

25 Dovetail 
wedge 

26 Subject to 
detrition 

27 Relish 

28 Retard 

29 Fra I topic 

30 "The Kiss” 
sculptor 

31 Cali (stop 

everything) 

32 He wrote "The 
Winepress" 

34 Disparages 

35 Developer’s 
interest 

37 State in Brazil 

38 E. German 
industrial city 

43 What some 
scouts seek 

44 Depose 

45 Dog's bane 

46 Crawler or 
summer 

47 Brewer's kiln 

48 Singer Lame 

49 Commune in 
SE Spain 

50 Chalet feature 

51 Marine hazard 

52 Colewon or 
borecole 

53 Letters from 
Piraeus 

54 Sweet potatoes 




BEETLE BAILEY 


HERE WE ARB 
ABOUT TO SIT POVM 
TO A 0J© THAKlKS- 
©I VlN© DIMMER AND 

people are ©till 

STARVlN© / nO g' 


i Wish 
WE COULD 
©END THEM 
OUR 

TURKEY / 


?OST OFFICE 


OP COURSE 
WE MEANT IT, 
v BUT... 


Uo&' 

(JUAU^P 


ANDY CAPP 


you AUJST BE Tl RFS AFTE R, 
r THE BUS JOURNEY PETW 
[ ~ ENJOV THEMATCH ? ) 


( WHAT I SAWOF J /yt 
> IT— I /MlSSEtb < /*> 
THE FIRST HAUL. Y 


{ l9d5 0j-ly M.'rot «*v»*p.i0rr* L10 

Qtfti pg Mggt Mmwncm hggggg 



X most expressive writer in Eoglish should 
have, left us only .six meager samples of his 
handwriting; the elegant subscription “By me 
WilHam Shakespeare" on the last page of his 
wlD, and five crabbed signatures on various 
legal documents. To tins pitiful hoard, accord- 
ing to Charles Hamilton — an experienced 
authenticates of autographs, whose expertise 
helped expose the “Hitler diaries” as fake — 
we must now add 10 or more sheets of writing 

and drawings. Hamilton. beHeves the fallowing 
hems to be in Shakespeare’s hand: 

1) All three pages of the Stratford wiD, 
including the Latm introduction. 2) Three ear- 
ly applications to the College of Heralds for a 
coat of arms (two in 1596, doe in 1599). 3) 
Various sketches of coats of arms in the mar- 
gins of these applications. 4) and 5) The 
Qumey-Mountford deed of 1612, and the Wd- 
combe Enclosure agreement of 1614 (the poet 
apparently did not mind serving as a legal 
amanuensis). 6) Tbe three pages orThe Books 
of Thomas Mare,” which others have claimed 


ZASKEOA > 
LOCAL WHB?E 
THEGROUNfc. 
? WAS.ANb < 
HETOLDME v 
TDFOLLOW 7 
THE CROWD-/ 


—AND I 
B^DEDUP 
v ATT HE •< 
RJPPIN 1 ) 
>-DOLE<. 
I OFFICE « 


as Shakespeare’s. 7) The pen-and-ink drawing 
of seven actors in **11018 Aridrocucus”; Hamil- 
ton believes one kneeling figure is a seif-por- 
trait of Shakespeare as an actorin costume: 8) 
Some pages of the “Northumbedand Manu- 
script,” which prove (this is a switch!) that 
Francis Bacon hired Shakespeare to edit and 
rewrite his essays: 

Can all this He deduced firm bt ffl'g M tnw d 
To allay one's overstrained credulity, Hamil- 
ton uses a large format with numerous exam- 
ples of Elizabethan hands - — secretary, ansae, 
and italic Experts, he says, rdy on the "fed” of . 
an individual's handwriting. Does mtit^ 
handwriting analysis a science? I recall the? 
experience of my friend and publishing col- 
league Beverly Loo, who was Cliff end Irving’s 
editor. When he handed her the holograph 
manuscript of Howard Hnghes's "autofnogra- 
phy,” she took the wise precaution of soHriting 
expert opinions in advance, and they con- 
firmed its authenticity so conduavdy that it 
became a Book of tbe Month. At the same time 
it was signed up by an English publisher who 
assured me, with the certamty of a man who 

had servHt! in war timn Britwh nudligpir^ TImt 

it was indeed the work of the reclusive finan- 


TCH, WHAT 
. A CHEW J 


WIZARD of ID 

“7 ya/F \/' l CAH’T 

! ■mt&GmG ' g^i-igvF 

/ K -THIS/ 

...IgVfNITS^IN VT-ra-f 
\ worn ' t-rmsg}- 


such '6&IMX& eomr i 

with y m <2rM\U6 ps^hts j 





mm 






l B 

— fe: 

L_ IhX m: 


>9c5 ! cwv 


d S£ **> w ** 6sSg&ut 

mrivenas? 

dious chores w JJJ vTdliam 

5Ejsr»» J: 

te? m P r ^ai^ *at Judith Sfutesms 

irSbe disowned in her father^ 

in Haxnawo^bbqfcv 
dSSs sigBS of filing 

its the foDOTTng M Farf 

fa » to bdov od &y; - 

*rJ’&dd hke to think 
tol fa fas. 

are Shakcspaxt's. I remain skepncaL 
Sanausl Scdioenbaum's “Sbake^ore and 
Others” is a collection of essays, k«ires and 
^^Over25y«p-A^P^^^ 

a disciple of Allred Harbage, ,^d«tiy refers 

to hinKclf as a “journal-weaned professional 
Shakespearean,” which has not prevented him 
from writing with grace, wit and common 
sense. My favorite is his senes of the 

Dark Lady of the sonnets, winch snow mat Or. 
A. L. Rowse commiued a paff of scbolariy 
blunders when identifying Mia Bassaoo La- 
nier as the poet’s mistress: “Rowse ts wrong 
about the name of the lady’s husband; she 
married Alfonse, not William, Lamer. - . 
[Thel odd phrase, ‘very brown in 
youth’ ... is not ‘brown’ at aD, but *brave . H 
It is a mu ting to know Dr. Rowse never admit-, 
ted errors, unless correcting them later 
without comment constitutes ah admission. : 


the essays on Ben Jonson’s ait and on tbe 
problem of his ambivalent attitude to Shake- 
speare are fascinating. Jonson’s carping criti- 
asm of “Julius Caesar ." a play whose success 
mnyr haw rankled with Jonson, shows that be 
was only hitman “Oh how the audience were 
ravished” by “Julius Caesar ” wrote Leonard 
Digges, a no n t«ni p n r a r y of both poets whom 
Schoenbaum curiously fails to cne; Diggess 
affective for “Sqamis.” Jonson’s Roman play, 
was “irksome." AB this is outwei^ied by Jon- 
son’s High praise of Shakespeare in Iris First 
Folio poem, and by his testimony that “I loved 
the man, this tide idolatry." 


REX MORGAN 


aen but just before publication Hughes blew 
the whistle. 


In Iris book Hamilton presents page after 


| THANKSGIVING ) 
IS A DAY TO / 
GIVE THANKS ^ 
FDR OUR BLESSINGS! 


ITS ALSO A DAY ' 
FOR EACH OF US TO . 


These are essays on Shakespeare's keen 
sense of political realism in “Richard IT 1 ; an 
unpublished contemporary account of William 
Henry Ireland's forgeries; the late E. Tangye 
Lea s researches into Elizabethan Stretford; 
tbe Folger library’s 50th anniversary in 1982; 
and much more: Scfaoenbaum’s article of faith 
that “scholarship and criticism should be fan 
far the practitioner” is amply demonstrated ib 
. “Shakespeare and Others.” * 

^ ^ • F 




G/V & — 90 THAT J 
> OTHERS, LESS 




OTHERS, LESS 4 
FORTUNATE, yWAY 
SHARE IN THOSE 
BLESSINGS !r 


the scribblmg in the suppled Siakespeare 
documents appears to be similar. But isn’t it 
possible that the scriveners, the Baitkbys of 
their day. were all taught the same penman- 


ship, just as my generation was taught the 
Palmer method? Even if it were true that 


- Robert Gtrvux, a partner in the publishing 
firm Farm; Strong and Giroux, ana author of 
“ The Book Known as Q: A Consideration of 
Shakespearfs Sonnets,” mote this renew for 
The Washington Pass. ‘: - " . 


"■‘W 




BRIDGE 


CNawaAoiviicaSviidlcata. 1985 I 


<L.'i 


By Alan Truscoct 


GARFIELD 


O N the diagramed deal.* 
South opened two dubs. 


GARFIELD, YOU EAT FOOD LIKE 
IT GROWS ON TREES 


WHAT IF THE FOOD 
dOST STOPPED? ^ 


IT'S THE EATING 
IWOOLPMISS r 


I WASN'T BORN 
YESTERDAY. I KNOW u 
r THE FOOD FAIRY % 
l BRINGS IT IN s 

\, the night _ I 


^ I COULD S 
HANDLE THAT) 




rT*1 -^fiARFIEt 


■S^RRElg 


y~/ South opened two dubs, 
strong and artificial, and had 
problems when West leaped to 
five dubs and his p at ner bid 
five hearts. His cue-bids of six 
dubs and seven chibs were at- 
tempts to suggest doubt about 
tbe right slam contract. North 
concluded, quite wrongly, that 
West had trade a psychic pre- 
empt and iHnr his - partner 
wirfied to play seven dubs. He 
therefore passed. East, should 
have been happy to pass but 
came to the rescue with a dou- 
ble. 


north . 
*jia 
7 10 98 7 3 4 
O A J873 

* — 


WEST EAST (D) 

♦ 07 •’•:->4az- 

OJ . . 9 KQB1 . 

«Q4 4»«Z 

♦ KQ9S7432 *J«S 

SOUTH 

♦ AKJQOSS 

OM- 
O £»S 

♦ AM 


the diamond queen. Since 
West had shown great chib 
Jcngtir aod East had made. two 
penalty doubles, South placed 
the diamond queen on her 
right After winning tbe dub 
openmg lead with the ace. he 
crossed to the diamond six 
and finessed the ten. 


w«s vulnerable. The 


South, greafiy* reheved. re- 
treated to sewn no- crump, 
which, like seven spades and 
seven diamonds; depends bn 
rn» Irmg the winning guess for 


Sarah 

Wan 

North 

2* 

5* . 

5 v 

8 ♦ 

PM 

8 -3 

7 ♦ 

Pnas 

‘ P» 

7 N.T. 

Ppm 

Pm 

Pm 

PM 

Pm 


Vast led the dvb H ag. 


Wirld Stock Markets 


Via Agence France-Presse Nov. 27 

Qusing prices in local currencies unless otherwise indicated. 


WEATHER 


Ahjorvn 

Amsterdam 

Athens 

Barer tono 

Be la rads 

Berlin 

Brussels 

Bucharest 

Budapest 

Copenhagen 

Costa OH Sol 

Dublin 

Edinburgh 

Florence 

Frank furl 

Geneva 

Helsinki 

Istanbul 

Lbs PalmOs 

Lisbon 

London 

Madrid 

Milan 

Moscow 

Munich 

Nice 

Oslo 

Paris 

Prague 

Reykjavik 

Roma 

Stockholm 

Strasbourg 

Venice 

Vienna 


c 

F 

C 

F 


" ' ' " ' 

HI 

c 

F 

L 

C 

F 


63 

13 

55 

o 

Bangkok 

30 

86 

34 

75 

3 

37 

0 

32 

sh 

Belling 

ID 

so 

-1 

30 

19 

66 

17 

63 

r 

Hang Kona 

24 

n 

22 

72 

a 

44 

5 

41 

0 

Manila 

32 

90 

26 

79 

2 

36 

0 

32 

o 

NCwDeOU 

22 

72 

12 

54 

0 

32 

-4 

25 

sw 

Seoul 

11 

52 

5 

41 

2 

36 

i 

32 

o 

Shangba! 

17 

63 

13 

55 

3 

37 

l 

32 

r 

Singapore 

X 

82 

23 

77 

0 

32 

-2 

28 

0 

Taipei 

25 

77 

20 

48 

1 

34 

0 

32 

*w 

Tokyo 

13 

55 

1 

46 

20 

3 

68 

37 

11 

1 

52 

34 

d 

Ir 

AFRICA 





2 

36 

-2 

28 

Cf 

Algiers 

18 

64 

13 

S3 
















Cape Town 

21 

70 

17 

63 

12 

16 






— 


— 


61 

1! 

52 

0 

HU Ji t 

32 

90 

20 

M 




63 

0 


_ . 











o 





52 


39 

8 

32 

0 







Clese Prev 

HOChtiet 7S1 770 

HPecftSt 250 239 

Hoascn ICS 1M 

Hort*fi 2J1 7T1 

Hu»«l 41700 417 

IWKA 301 310 

Kali + Sail 327 327 

Kai^Odl 339 JO 33430 

Kauftiot 338 330 

Kloedcner H-O 3iiio 320 

KloecknerWerko 92J0 94J0 

Knmp Stahl 146 160 

Llooe 570J0 SM 

Lu+lfaansa 22 . 223 

MAN 192 194 

Mannesman n 24650 269 

Muoncti RueCk 2400 2400 


GF5A 
Harmony 
HivHd Steel 
Kloof 

NedOcmk 

Pres Stem 
Rusotat 
SA Brews 
St Helena 
Sasai 

West Holding 


3950 3940 
3450 3565 
580 595 

2450 2575 
975 101 0 


Shell 

5TC 

SW Chartered 
Sun Alliance 
Tate and Lyle 
Tetco 
Thorn EMI 
TJ. Group 
Trofalaar Hse 
THF 
Ultramar 
Unilever C 1 
United Bbaitta 
Vickers 
Woolnarth 


2425 2610 
BIO 830 
4575 4700 
NA 895 
9200 9500 


F.T.30 Index: 11 M 
Previous : lUUt 

F.tae .108 index : idut 
p ra » lees : MUJO 


CoidStoraoe 

DBS 

Fraser Neave 

Haw Par 

Inchcooe 

Mol Banking 

OCBC 

OUB 

DUE 

ShanarMo 
Sima Oarby 
5‘pore Land 
rpora Press 

5 Steamship 

St TrocBno 

U nlted Oversea* 
DOB 


IBB X9S 
5J0 5J0 

5SS 6.15 
L»2 2 

2 207 

5.10 5.15 

8J0 SJ0 
270 278 

2.18 2X 
N.Q. 218 
1A7 1J0 

224 223 

5J0 A15 

tLegsa 080 
2ST 274 
1.40 1A4 

234 338 



Nlxdorl 

mu 

Porsche 

Prevssag 

PWA 

RWE 

Rhekunelall 

ScJierlng 

5EL 

Siemens 

Thvesen 

Veba 


554 55050 
480 795 

1275 1218 
244J0 243 

159 158 

195 196JH 
477 490 

649 654 

32450 326 SI 
456 <63 

17280 17550 
27130 27350 


Volkswaosnwrrk 40450 40650 
Wei la 688 685 


Commerttai* Index : 174080 
previous: 176350 


Blue Circle 
BOC Group 


*12 SR* 
290 290 
866 866 
268 246 
144 144 
449 454 
469 <77 
276 283 
321 323 
251 251 
29 29 


2 36 Cl 

3 37 fa 

-4 21 o 

-4 2S tr 


LATIN AMERICA 


Zurich 

MIDDLE 


10 50 5 61 

-5 23 4 IB 
3 37 0 32 

■2 a -5 23 
-1 30 -1 X 
H 52 3 37 

30 -4 29 

-4 25 -6 21 
5 41 0 32 

■IX -5 23 
■3 27 "4 25 
-2 26 -4 25 

EAST 

13 SS I 34 


Ankara 
Beirut 
Damascus 
Jerusalem 
Tei Aviv 


18 64 7 <5 

24 75 16 61 


OCEANIA 


Auckland 

Sydney 


IS 64 15 59 
23 73 17 63 


to 

Buenos Aires 

21 

70 

16 

61 

fr 


Caracas 

28 

R2 

18 

64 

r 


Uma 

24 

75 

19 

66 

a 


Mexico CHy 

24 

75 

6 

43 

a 

0 

Rla de Janeiro 

27 

81 

24 

75 

0 

cl 

a 

<9 

NORTH AMERICA 

23 

ct 


Atlanta 

25 

77 

15 

59 

Cl 


Boston 

7 

43 

2 

36 

Cl 


Chicago 

3 

37 

-1 

X 

rt 


Denver 

11 

W 

-8 

18 

fr 


Mtrtril 

6 

43 

4 

39 

f 


KanoHjtg 

28 

82 

19 

64 

fr 


Houston 

25 

77 

21 

70 

sh 


Los Angeles 

21 

70 

14 

57 

to 

0 

Miami 

27 

81 

24 

75 

tr 

no 

Minneapolis 

•8 

18 

-17 

r 



Montreal 

-S 

23 

-9 

16 

d 


Nassau 

28 

82 

20 

68 

fr 


New York 

11 

52 

6 

43 

Cl 


San Francisco 

14 

57 

ID 

50 

cl 


Seattle 

-3 

27 

-6 

21 

sw 

tr 

Taranto 

1 

34 

-4 

25 

cl 

0 

Wasiitaana 

U 

04 

12 

54 


wH; 

aovercast; pc-oorflv douriv; 

r-raln; 


THURSDAY'S FORECAST — CHANNEL: Very choppr. FRANKFURT: 
Showera. Temp. 0— -2 (32-281. LONDON: Shower*- Temp. 4 — 0 139 — 331. 
MADRID: Folr. Temp. 9—2 MS— 361. NEW YORK: Ralnv. Temp. 13—4 
T «"* o— 1 (32 — 251. ROME: Cloudy. Timm. 
12— 4 154— 391. TEL AVIV: Not avaJIabte. ZURICH: Cloudy. Temp. -1 — 3 
DO— 271. BANGKOK; Cloudy. Tempi 31 — 24 (88— 751. HONG KONG: Cloudy. 
Temp. 24— 21 ITS— 70). MANILA: S Dowers. Temp. 31 — 14 (88 — 57). SEOUL: 
Rainy. Temo. li — 2 (53 — 36). SINGAPORE: Stormy. Temp, jl— 25 (B — 77). 
TOKYO: Showers. Temp. 14— s (57—411. 


Bk East Asia 
Cheung Kang 
China Uottl 
Green Island 
Hang Seng Bank 

Henderson 

Chins Gas 
hk Electric 
KK Realty A 
HK Hotels 
HK Land 
HK 3X100 Bank 
hk Telephone 
HK Yaumatel 
HK Wharf 
Hutch Whampoa 
Hyson 
Inti City 
Jardhw 
J or dine Sec 
Kowloon Motor 
Miramar Hotel 
New WarM 
SHK Props 
SMux 

Swire Pacific A 
TalCneung 
Wah Kwong 
Wing On Co 
Wlnsar 
World Int'l 


2350 24 

20.10 2040 
U50 1520 

LX 8J0 
47 47 JS 
2.175 2l225 
1250 I2J0 
830 855 

1150 1150 
3350 3450 
650 Lid 
7J0 750 

9J3 10 

355 195 
755 7.40 

26.10 26.90 

050 052 

0l99 0.99 

1250 1120 
1SJB 1520 
ID 1020 
5150 5150 
R3S 65S 
12.70 1190 
255 255 
29 JO 2950 
1.99 1025 
077 077 
ITS 175 
4.95 94) 

250 270 


Haag Sena Index : 170638 
prevlowc : 173B3S 


toeU. 


318 318 

272 263 

331 331 

583 584 

415 397 

205 202 

473 471 

23S 235 

378 378 

303 303 

640 637 

143 159 

210 211 

231 232 

304 504 

137 185 

45S 443 

497 490 

496 483 

I7H ST7H 
444 <43 

BW S27W 
ITS 178 

718 718 

265 267 

V64 15V* 

381 3ia 

746 748 

304 30 4 

988 988 

210 710 

441 443 

728 717 

242 333 

30 323 

316 318 

744 749 

489 502 

188 1|9 

455 4S3 

187 181 

513 511 

439 444 

697 709 

448 445 

313 313 

140 138 

782 782 

146 140 

STHVj 
459 
• 702 

327 


Strain Times lots Index : 497.31 
Previous : 71748 


AGA 

AHo Laval 


Aetna 

Atlas Copco 
Bonder 
Electrolux 
■Ericsson 
Essslte 

I tandetibanfcen 

Pharmacia 

SatkD-Scanla 

Sondvlk 

Skcnska 

SKF 

SwedbhMOtCti 

Volvo 


164 161 
247 248 
375 315 
528 515 
159 157 
177 177 
186 187 
210 SB 
440 HJ3. 
TO 216 


NGK Insulators 
Nikita Sec 
Nippon Kepoku 
Nippon on 
nIppoo Steel - 
Nippon Yusen 


Nomura Sec 
Olymnas 


Gmnd i a n sucks via . IP 
Sales [Stock Mtab 


NA 498 
585 995 

113 no 

2*0 257 


AttaenvMrtdcn index : 4*364 



Paris 


ACI 
ANZ 
BHP 
Bortzl 
393 Bougainville 
Casllernoln* 
1^ Coles 
803 Comal co 
499 C RA 
1680 CSP 
872 Dunlop 
515 ewers 1*1 
2866 ICI Australia 
Mage I Ian 
MIM 
, Mver 

Mat Aiisi Bank 
News carp 
N Broken Hill 
Poseidon 
QW Cod Trust 
Santas 


[-li 


ora* Cha. 


4J2 4J8 

840 R44 i idMMirtLJ. index :»T77J« 
113 3.14 I Previous-; im.ll 

LS6 147 

S • • 

4J9 4J56 

141 US 
144 548 
360 1SS 
IX 260 
3 195 
2.10 2.12 
no aio 
2-58 IS 


Thomas Nation 
WM f t ain Minina 
w e st pae Banking 


WKtoaeB 

WoadsWe 


3J5 US 
438 440 

155 840 

228 230 
340 345 
1J0 140 
560 566 
265 267 

X33 348 


All O rdtnortes Index: 99L7S 
Prwlous ; 9N48 . . 


Akai 

41D 

410 

Asatii Ghent 

799 

. 772 

AJOtitGkm 

845 

868 

Bank at Tokyo 

730 

730 

Bridgestone 

521 

521 

Canai 

1MB’ 

1120 

Casio 

1820 

1BRI 

C.itob 

395 

400 

Dal Nippon Print . 

1290 

1230 

pgiwg Hawse • 

900 

911 

Dal wo Securities- - 

778 

780 

Forme 

7260 

7280. 

Full Bank 

1440 

1430 




m 




-MM. 


j 


llWmli km i mtoy - 









fils It* 


■jCOREBOS 


"'2 ; * 
-988 ,f 

« 

- -v. 
































ilfflERNATIOtoAL ItERALD TIUBt'NE', THl/RSDAY, NOVEMBER 28, 1985 


Page 19 


'- l - : _._"• * \i-.v 


‘ ■ • ' v ^ 2 * 

' - .-~ •' oceaT^i 
• ■■-. :-.* •'■> r*>i. J* 35 

- 

- ". J“ 

... . • r "E i-. 

■ ‘ .^4 
' : -- 
• --. >■*&? 



SPORTS 

Wade Wins but Confirms Retirement; Evert Gains 


cW-f 




i- 5 i 


Canfrisd by Ovr Staff From bispetcka — 1 ■ i ■■■ 

^ MELBOURNE - Former AUSTRAIM 

Wimbledon champion Vuginia 

Wade readied the second round of when she Took ihe title at the cci- 
tbe Australian Oped tennis eham- temfiaT Wimbledon in i 977. Once 
pionsbips on Wednesday and thea tanked as higfc as fifth worldwide, 
confirmed she will retirefrom sin* Wade now spends much of her time 
gles play after the tournament. coaching two young French play- 
“I can’t be bothmrf.to_psyche era, Pascale Paradis and Catherine 
mysdf up anymore , 0 said the 40- Suirc. 

year-old Baton, after getting past She is also involved in tdevison 
Molly Van Nostrand of the l/mted commentary for the BBC and CBS 


AUSTRALIAN OPEN TENNIS 


linda CordweQ, 6-4. 4-6, 6-4; Dune Fairbank manayd to win a game, 
ousted Australian Anne Minier, 6 - The 30-vear-oM American never let 

A £4 J B. a .If Z ..J _ 1 ■ 


~ 4, 6-4, and Bonder eliminated up as hex pinpoint accuracy gave an 
Wade will {day either third-seed-' Louise Field of Australia 6-3, 6-3. erratic Fairbank little rfr*nc« 

Haaa Mandlikova of Czechoslo- But two other women's seeds Bul Evcn seenied boihered 
kia or Candle Benjamin of Ba- towed flat: No. 12 Bctina Bunge of abont b^S: of grass-court prep- 


ed Hana Mandliiova of Chechoslo- 
vakia or Camille Benjamin of Ba- 
kersfield, California, who dash 
Thursday, in the second round. 

Meanwhile, Chris Even Lloyd 
successfully opened die defense of 
her title by sweeping past South 


W«t Germany was beaten. M 6 - aration for the o^; the top se^ 

^ £ A missed recent tournaments in Bris- 

and the 15th-seeded Paradis was bane and Sydney 
elumnated bv Australian Amanda M1 . . 

Dingwall, 6-1 5-7 6 -Z 1 wouki to have had more 

Nicole Provis. a 16-ve*r^!d Md. on grass over here, but my 



Mrtly Van Nostnmd of the United commentary for the BBC and CBS African Ros Fairbank, 6-1, 6-2. On Nicole Provis. a 16-vear-old Mel- maumes on grass ov-er nere, out my 
States, 6-3, 5-7, 6-2, “1 really find it, and s a member of the AU-EngJancl the first fnB day’s play of the tour- bourne schoolgirl, defeated Sophie schedule didn t allow me to play 

too much, effort Club committee that oversees the nament, Evert was joined in the Amiach of France, 6-3, 6-1, to earn *“? warm-up events. Bui I must 

“On the court my concentration running of Wimbledon. second round by three other seeds, a probable second-round meeting thinkpos lively □ Tm going to win 

is stifl good. But I find ft difficult to “I might play some doubles next No. 6 Zina Garrison of the United with second-seeded Martina Nav- ^ sre - 

get exdted about playing before I year,” Wade said, “bul I don't real- States, 13tb-raicd Jo Duric of Brit- ratdova. the world’s top ranked Evert has not been defeated in 
go mi court.” ly like playing if I’m not playing ain and 14tfa-seeded American Lisa player. four events since September’s U.S. 


' : '■■l.V. t "^-•A 

• '"V& • 


Virginia Wade 


“On the court my caocaftraiicoi running of Wimbledon, 
is stffl good Bui I find ft difficult to “I might play some doubles next 

get excited about playing before I year," Wade said, “bul I don't real- 
go mi court” ly like playing if I’m not playing 

^ Wade reigned as the queen of singles because it really isn’t fair to 
British tennis for almost 10 years, my partner. As it is, my schedule is 
reaching the p inna cle of her career pretty packed for next year.” 


Bonder. AQ the men’s seeds have byes 

Garrison, a semifmalisl two into the second round of play. 

years ago, beat New Zealander Be- Even raced in to a 4-0 lead before 


east RUTHERFORD. New NHL FOCUS 

M-. ' : 1 Jersey — 'There was no question the — — “ 

■ lt ^''Jihjg^CJr 'New Jersey Devils ma d e progress balance cm the and 


it looks 


9 Hex, 4-3 

' foot- 10, 150-pound (1. 78-meter, 
68 -kilogram} Billington. “It’s nice 
to be playing though.” 

The loss was the third straight 
for Winnipeg, which has one game 


The triumph raised New Jersey’s left on a four-game road trip. The 
cord to 9-10-1, for 19 points. The other two losses had been by B-l 


- - “ co ! De ^ become a record to 9-10-1, for 19 points. The other two losses had been by 8-1 

- - ' ’ se ^? us c ? DleodCT m ta* second Devils were 6-12r2 after 20 games margins. 

. : n - • tfctj fyi' - ,® nc agn was obvious Tuesday last season for 14 points. They had Dale Hawerchuk tied the ga m>- 

" = ‘: v ’- ^ “ beenfW-lagainsi^^the 

'‘•: rrJ!: ?r£rr %J ^ 9V “ years, but MacLcan’sgoal wfth five seconds the seorod 

• " uru,'^». foot slapshot early m the third pen- Aaron Broiers Is the riaht faceoff vt 


urbe’i^- in the third peri- Aaron Broien in the right faceoff New Ja^had opened lead 

- - . Devils to a 4-3 National Hockey a shot that went off the poaHes _r 


third victory m four games and its “I flubbed the shot," said Ma- „ Rich Preston tied tire score 2-2 at 
i ^i; -Erst .over Winnipeg in the seven cLean. “1 think ft fooled him a 2:26 , °f th* Sf«md by beating Hay- 

' * l - : '■ -ri- - meetings. Kttle. The shot was a little knnckler wa { d a ip-f°°tcr from the slot, 

Other NHL winners Tuesday that was yinmno a change-up. ^ ?reg Adams put New Jersey 

^ night -were St. Louis, Calgary and When he kicked too soon, it went ahead a link more than two mm- 

'■ ‘Chicago. through.” utes later. 

• - " l “AH in an. we’re playing quite Rookie goalie Craig Billington “Well have a light practice tom- 

! /' ' • said Carpenter, whore Dev- protected the lead for the final 15 morow and a real good day Thnrs- 

Vr 1 ; 3 ; 3s improved 13 points in his first mrnww. ptvamg Hia itriw t ijcionr in day.” said Billing ton “Manage- 

’ ^ season as coach. “We’re improving as many starts. “I don’t know if I’m ment always goes lighter on things 

- ‘ :■* , r 8 ®°^ bettoc ’- We Ve got good a good luck charm,” said the 5- when you win.” [AP, UPI) 

SCOREBOARD 



here." 

Evert has not been defeated in 
four events since September’s U.S. 
Open. “Tm playing well, bni so is 
everyone else," rite said.“We're 
pushing each other to higher levels. 
I think 1 can get a lot sharper, bat 
today was a good start.” 

In men's play on Wednesday, 
Australian Peter McNamara had 
the center-court crowd enthralled 
as he hauled for five sets against 
Israeli youngster Amos Mansdorf . 

A former Wimbledon doubles 
champion who is rebuilding his ca- 
reer after complicated knee sur- 
gery, McNamara was leading by a 
set and 4-4 when rain forced a halt 
to play on Monday. 

But' Mansdorf, 20, had the edge 
in the final set when the match 
resumed and woo, 6-7, 6-7, 6-2, 6-4, 
6-4. (UPI, AP) 

■ Yellow Balls for Wimbledon 

Yellow balls will be used at next 
year’s Wimbledon tennis champi- 
onships for the first time in the 
tournament's 108-year history. The 
Associated Press reported All En- 
gland club as announcing on 
Wednesday. 

A dub spokesman said that im- 
mediately after last July’s champi- 
onships, television-camera tests 
demonstrated that a superior image 
was presented by yellow balls rath- 



Tho ABGCOctf 


NO — Charles Barkley deftly tipped away Robert Par- ; 
ish’s lay-up attempt in Tuesday’s first half; Barkley also j 
outdid Parish for high- scoring honors, 24 points *c 22, but ! 
Boston handed Philadelphia its third straight loss, 98-91. j 


SPORTS BRIEFS 

Venue for Ski Cup Opener Is Changed 

SESTRIERE, Italy (UPI) — The opening men's slalom ci *±v World 
Cup ski season will" be held here Sunday, after being snitched from 
snowless Courmayeur. Italy, cup officials announced Wednesday. 

Officials are also closely monitoring sparse snow conditions at nearby 
Puy St. Vincent. France, ihe venue for the women's season-opening cup 


starts. “I don't know if fm meat always goes lighter on things In Tuesday night's opening period, Craig Wo lanin let Winni- er than the traditional white. Yd- event, a downhill, scheduled for next Dec. 5. 


(AP, UPI) peg’s Jim Nfll know that the chase for the puck stopped here. 




Football 




*■ • - at :■£' Selected U.S. College Conference S tandings 

- 1 ' '■'W: ter,. . BIO TEN 


; " ■j-r.tesj 


- - 

«• i'; t — 


ContarancB All OoniM 
Wt_TPt*OPWLTPt*OP 


Iowa 

7 1 0 3*911* 10 1 0 412143 

Florida 

Michigan 

6 1 1 3*1 40 

* 1 1 315 75 

LSI) 

IDtnoU 

5 2 1 312204 

6 4 1 275303 

Tennessee 

1 Ohio SL 

S 3 0 321 153 

8 3 0 315205 

Alabama 

WMWlSL 

5 3 0215149 

7 40244202 

Georgia 

.Minnesota 

4 4 0 176193 

4 5 0 273227 

Auburn 

Purdue 

3 5 0 1 85 340 

S 40 297304 

Misstated 

Wisconsin 

2 6 0 124304 

5 8 0 231243 

Vanderam 

Indiana 

1 7 0 134240 

4 7 0251340 

Kentucky 

‘Hrttnvstrn 

1 7 0 90253 

3 SO 170332 

MisaSI. 


RACIFK-M 




Contefwe* All Gamas 
WLT PtsOP W L T PiiOP " MnTVlontf 


BRUMiE 


■. : j will 
+ •■ 1 h.o is: 

ivtz 
: .-.•rtc- 

• J -i.' 

.■ 

.• "J'.eiK- 


“ ?! 

2 !! !' 

l” 


UCLA 

6 2 0 231 130 

1 2 1 III 104 

GaTeeB 

ArltSf. ’ ' 

s *0 1 * 2 lor’ a roauuir 

Virginia 

Arizona 

"SM-B'tJMM' 

8 3 0 29*133- 

Clemsoa 

Wasftnstn 

5 3 01*0134 

6 5 0 213309 

N. Carolina 

South. Cal 

4 3 0 164 W 

5 5 0 200 157 

. NXaraSL 

Oregon 

3 3 0 14614ft 

55 0 247390 

Duke 

jwtuh- SL 

3 S 0.190176 

4 7 0 313392 

WtcForest 

Stanford 

3 5 0 149227 

4 70 345313 


Oregon SI. 

2 4 0 87279 

3 9 0 140342 


‘CnUfomlB 

*7 0 144212 

47 0 3333*5 





Oklahoma 


SOUTHWEST 


Nehrnska 

■’ .. 

Conference 

All Game* 

OldaJSt. 

, - 

WLTPtsOPWLT PtsOP 

Catorada 

Texas AAM 

4 1 0 211130 

9 2 0 2*7170 

Iowa St. 

•Texas 

ft 1 0 170139 

9 2 03441*9 

Kansae 

-Arkansas 

4 20212 *7 

*20 305129 

Missouri 

Bavtar 

6 3 0 199 97 

0 3 9 272145 

Kansas SL 

~SMU 

5 3 0 234 135 

440 247176 

l 

* Rice 

3 5 0 147345 

3 7 0 212310 


Houston 

2 5 0.144232 

3 7022*31* 


l Texas Tech 

1 7 0 M8115 

4 70 24*340 

Tulsa 

f TCU 

0 8 0 92339 

3 9 0 150383 

W. Tax. $L 


SOUTH EASTERN 

Cvnfaronca AH Gama pJl. 
WLT PtsOP WLT Pb OP Dmk * 

5 10 IBS » t 1 1 340 140 
. 4 I I W U 7 1 t 1S4 n 
4 10 U0 43 713 310133 
311133 01 73134015S <*™ 

3 2 1 130 07 7 2 1 3M13I AUaml, 0 . 

3 2 9 114 71 9 2 0 305147 CmlJMldk 
2 4 0 115172 4 4 1 210274 WAMcMscn 
1 3 1 79141 3 4 1 144279 

1 50 74143 540 1*4211 Ball St. 

04 O130W4 5 4 0 257304 *■»«*■ 

ATLANTIC COAST Toledo 

Conforvoco All Gamas bf™ SU 
WLTPtsOPWLT PtsOP ™»«U. 
50015* 71 7 30 259152 M 

5 I 0134 55 721215101 ' 

-•4»0 UNTT7-4 4 0 3411*4 

-4-3 0 147.132 4 *4 231 302 Air Pore* 

3 4012*154 5 40224323 Brio. Vo* 
230 1Z1 19* 3 9 0 114305 H email 
25 0 *4174 4 70 1*3353 Ufafi 

1 ft 0 «f 174 4 7 0 21224V st 

BIO EIGHT SnJHes SI. 

Conforcnc* All Comm Now Mex. 
WLT PtsOP WLT PtsOP wvwnlna 
4002573* 5 1 0 2*0 10 Tx-EIPmo 

4 1 0222 97 *20 3** 134 
4 2 0 HI *2 92 0 232141 
43014079 740 211 154 

3 4 0 105221 5 4 0 155319 ftav^-Rmo 
25 0 I19M4 4 4 0 2*4391 .Idaho 
■1 4 0 11721* 1 100 204342 Boisa SL 


lUktOte SL 3 1 1 IV 74 4 1 2 3M 154 

Indiana St 3 2 0 149 125 4 ft 0 2372*9 

WKMIa SL 2 3 0 104154 3 1 0 I7S317 

S. Illinois 130 W107 4 7 0 327254 

Drake 1 5 0 1071X 4 7 0 30*255 

MID-AMERICAN 
conforms AH Gam 


Tennis 

Australian Open Results Union 


4 v uni u* 41V MEN 

1 3 0 **107 4 70 327254 First Rooad 

1 5 0 1071X 4 7 030*255 Mork Weodtordo. Auoralla d*L Eddlo Ed- 

ID-AMX RICAN VMJTdl. SowTTl APlCa. 7-4 C7-4I, *4, 74.4-3; Jay 

COnforcnca AH Cam ^ Lanldui. UA.drt.MnH Doyle. I r« land. 

W LT PtsOP WL TPtsOP 1 1-4, 6-7 (4-7) 45; ChriHo Stayn. South Africa. 
*002*tl24 11 0034172 def. Bruat Ooflln. Now Zaalwtd. * 4 . 43.43; 
7 1 1 340154 9 2 1 24420* Laurie warder, Australia. dsL Rldcv Os- 
4 3 0 157 IX 7301*4143 tarltiMvWeSt Garmanv.42.40.5-7.4-7 (5-7) 9- 
4 4 I 173157 4 4 1 112212 4; Nduka Odlmr. Hloerla. def. David Mac- 
4 4 0 11*135 4 7 0 I722S9 Ptwnoa, Australia, 7-4 (7-5). 7-4 17-2). 41; 
3 40 15421* 4 7 0 203293 HuuO Van BoackoL South Africa. dsL Cafbi 
3 4 0 14V214 4 7 0 199252 DOwdcmaJL Britain. 74 trst.); Domlr Karo- 
34010314* 4 7 0 135197 H&Wost Germany, oef. Sieve Shaw. Brtlaln.4 

2 40 1411*5 2 10212277 12-1 tretj; Amo* Atonsdorf.iirnsL dW-Pefor 

2 7 0 141240 3 * 0 151 305 McN«nMra,Avstralla,47(3-7).47(47>424 
raau avui me *■ Marc Flur ' UJL. def. Jeremv Botax 

r »r«0)P. 47 14.3J.47 tl-7L 7-5, 44, 7-& Oirts 


XUS lion at Wimbledon ... there are 

— - occasions on which we have been 

wiikison. ua. oef. Aie.onars zverv, soviet deemed old-fashioned in our pro- 

Unian, 42.4140; Francises Gonralez, Para- ~r (Kaca i™lirinnc if,— 

auar.def. Jana* Svans3on.5<M)deA. 42,0-4. 4 “ “*** “adlQMS. Alter 

2; Lloyd Bourne. US. del Mark Edmondson. lengthy dtSCUSSlOOS, W£ bejICVC that 

Australia e-i. o-i 7-s; uni srurax u^, dot. die advantages of "cinp vellow ten- 

Guv Poraet. Franca. *4, 1^. irX 42: Michlal 

Schnpers. Neftser lands, art. wolfpono Poop, 1115 * ja ^ s no ^ oulwn gn tbe Sentl- 
wesi Germany- 1-*. ?-6 (7-2i 3-4. *-1. 4i mental attachment to white. 

women But the club's tarditional rule 

Rr * f Raoad that players must wear predomi- 

f-?2taS5 rsrsrrsi white attire win remain in 


low balls are used in nearly all Sesiriere, with abundant natural snow aided by an artificial scowmak- 
other major tournaments world- ing system, has a minimum cover of 130 centimeters (51 inches'.. 
wide. 

Cards Get Record Series Cuts 

led to its role as guardian of iradi- NEW YORK (AP) — Record per-man World Series shares of 
tion at Wimbledon . . . there are 576,34 1 .71 for the winning Kansas City Royals and 554.921.76 Sc r the Si. 
occasions on which we have been Louis Cardinals have been announced by the office of baseball's comnus- 
deemed old-fashioned in our pro- sioner, Peter Ueberroth. 

lection of these traditions. After The figures broke the marks of S65.487.70 and S44.473.3I set by the 
lengthy discussions, we believe that Baltimore Orioles and Philadelphia Phillies, respectively, m 19(3, and 
the advantages of using yellow ten- were generated by a record players' pool of S7.805.371 .25. 


Quotable 


Air Faro* 
Beta. Yno 
Hawaii 
Utan 
C ol o- SL 
SnJHes St. 
Now Max. 
Wvwnlna 
Tx-EIPmo 


WESTERN ATHLETIC 

Canfarano* All Gamas 
— WLT PtsOP WL TPtsOP 
7 1 92*7117 11 1 0-4*4143 


uwrfs. Nowaaaio mLdsMt oH Mac M sIL U A. 
24.4X1-4.4&42:' Simon Voot AustFaOiLdM- 


4 1 0 su m 10 3 0 40* m J y n - AteMgd * r - ** <7 «.7-9J7-2>, 


Nov^Rano 
.Idaho 
BoIm SL 


1 4 0 53222 1 100 101 VS Water SL 
MISSOURI VALLEY Idaho St 

Conforancs All Gamas Montano 

WLT PtsOPWLTPnOP Montana 5L 
500 193102 450 27*328 (LArlxono 
3 1 1 1X141 4 3 1 2403*5 


NFL Leaders 


- - v - L' 


. • -r :V: 2 «' 

-- 7 ; v ; 


AMERICAN CONFERENCE 
TEAM OFFENSE 

Tort* Rush Pan 
San Dfooo *773 1200 1573 

Job 4594 1971 2443 

Miami 4529 1205 3218 

Roldor* 4092 K15 3447 

Danver 4049 1447 2401 

-Cindonatl 4017 1519 24*9 

New England 3995 1578 24M 

■pllWwrah 3*49 1443 2295 

Seattle, 3900 1291 251* 

Clovatand 3749 1791 1*57 

■odJonapafte 3421 1484 198* 

-Kama* City 340* M44 25*3 

-Buffalo 31*0 1114 2074 


NATIONAL CONFERENCE 
TEAM OFFENSE 

FEBBHCC Ym * *”* P °“ Prt^ton 

™*F H “ atfcoao 4445 2124 233* L ™*** 00 

B«h pm Froncto 4249 1795 MID 

Do,k » 4257 14 *» a* 7 — -- 

™ ™ ^ Gtan1 * 419* 1439 2984 

2” 2f* si. Louts 3990 1447 2413 

^ ^ Gn *" BaV 3954 1SJ* 2217 C °* umbkl 

JSuO » wa«hlnalan 3931 19U 1*11 M 

" ™ Phllodofpnta 37** 1257 2943 

ZZ 1™, MJimosoto 3397 11 » 2997 Pm SL 

^ Taaioa Bay 3497 11*3 24*4 MlamLFlo. 

™ - 3SX 1740 1797 Anro 

™ Rama 3*47 1530 1*27 Florida St. 

r!„ ™ NowOrioans 3377 1395 1**2 Syroctso 

nSS IS 3149 1157 19*1 W.VlroInla 

340* TOM 25*2 TEAM DEFENSE LMn. 


420 157113 45 1 20224 
5 3 0 290349 94 0405343 
4 4 020024* S 7 0 251330 
Sf. 3 4 0 2041* 5 4 0 332307 

X. 2 4 0217319 3 9 0 29*415 

9 1 4 0 Ul 242 2 9 0 1X73S0 

SO 1 4 0 109244 1 90 175352 

BIO SKY 

Cantaranen All Gamas 
WLT PtsOPW LT PtftOP 

10 4 1 0 292100 10 1 0 447155 

4 1 0 236 H7 * 2 0 402 2D5 

5 2 0300151 74 0 299211 
L 4 3 0 291222 4 5 0 411333 

3 4 0 225201 5 4 0 343X1 
[ 2 5 0 140 242 3 9 0 223427 

SL 1 4 0 145299 2*0294434 

a 1 4 0 *4214 3 9 0 14729* 

IVY LEAGUE 
Contaran e o AH Gamas 
WLTPtsOPWLT PtsOP 
819152*3 721 1*7 141 
5 2 0 149 *2 730 1V2U6 

11 5 2 0 T27 M 5 5 0 212212 
430 IX 92 541 200179 
3 3 I 105109 4 4 1 140192 

Hi 3 4 1 95105 2 2 1 144 W* 
2 5 0 109 1Z7 3 7 0 157179 
1 0 7 0 94243 0100 753X1 

MAJOR INDEPENDENTS 

. WLTPU OP 
II 0 9 245 IX 

o. * 1 0 341 153 


4-7 (3-7). *J; Steve Denton. UA. def. Glenn 
Loyenoecker. ILL ft-X 4-4. 5-7. X4. 84. 

Brian Teacmr, U4. del. Kelly Evenuen, 
New Zealand. 7-8 (7-4), 6-2. 4-4, 3-4. IS-13; Mike 
Umcfl.UJL.ilci Jonathan Canter. Ui. 7-5. 7-4 
(7-4) 5-7, *-3, 4-t: Bon Testerman. 03- def. 
Tom Cota. U5, 7-4 ( 7 - 4 ), 4-X 74 (7-51: Tim 


lia, 4-4, 84: Zina Garrison, Ui. dot. EMtaaa „ “ 

CorawelL New Zeotand. 4-4, 4-4. *-4; Rebecca eileOL 
Bryan f. Australia Oaf- LfciOa Got**. Ui- 2-4.4- 

4. 4-2; NkcoU Provis, Australia del Sophia HBBMBte^Hntetem 
Amiach, France. 4-X *-l; Amanaa DlnowalL M _ 

Aus frol la orf- Pascal# ParodB. Franc*,4-Z5- \ WT 

Anne Hates- Britain. det Hu NaUJL.4-X4- 

3; Chris Evert Uavd.ua. del. Ros Fefrbank, r » * | '■ * q 

■_ SauHLAfrfco-Al. 4-X Ann Henricksam. UA. M A. a-v .. Rj VI 

art. Jenny Brnte. Australia a*. 7-4 (7-5) ft-*; M B § m-* M’jMgm I If i 

Dianne Bafostrol. Australia, def. Betti no * • M ^ m m Wm*W m/m 

Bunae. West Germany. 4 - 4 . *- 2 ; Vb-ataia Jf 

Wade, Britain, d*f. Molly Van Naatrond, (JS. Vapl 77 ,,, „ 

6-i5-7.6-2.-GUH Fernandez. Puerto RJcadef. New >ortt / ma Service 

Carina KarisMa.Sw«d*n,8-l,*4; U*a Bond- NEW YORK — There IS good 
m news frmp the Olympic movement, 
saint. Fn*K*. 8-x a*. 4-x and just in lime for Thanksgiving. 


• Forward Cedric Maxwell of ihe Los Angeles Clippers, on how the 
team is regarded by his town's basketball fans: “We're kind of like a JV 
game for the Lakers.” iLATj 


VANTAGE POINT/ George Vecsey 

■14- 

I The Empire Strikes Back 

tala JL 


Basketball 

National Basketball Association Standings 


EASTERN CONFERENCE 
Atlantic Dhrfllaa 




j ' ^Houston 

3147 

1303 

1944 

Chicago 

3083 

*87 

20*4 

Pittsburgh 

TEAM DOrtBlC 


Giants 

. 3199 

1135 

2044 

Notre Dame 

t 1 ' 

Taras 

Rate 

Pass 

Washington 

3410 

1344 

2044 

^Carolina 

J- ’ Pittsburgh 

. 31*3 

1219 

1*45 

Rams 

3430 

1175 

220 

Cincinnati 

•» ', Cleveland 

3344 

12*9 

2045 

Philadelphia 

3915 

1005 

2010 

Tomato 

;K<£ u ___ 

3445 

1110 

3335 

San Francisco 

3821 

1347 

2474 

sw La 

: A) New England 

3540 

1217 

2303 

Dallas 

3B54 

1294 

2570 

Boston CaL 

.-.r RakJers 

3410 

1227. 

2303 

SL LOUIE 

3843 

1742 

2101 

Navy 

.’i Seattle 

3825 

.1445 

2390 

Green Bov 

3*44 

1704 

3240 

MamphAL 

!;! Buffalo 

3948 

10 ** 

2049 

Minnesota 

4030 

1727 

2301 

Rutgers 

;>• 'Denver 

. 3977 

1475 

2502 

Detroit 

41*4 

2017 

2177 

((.Carolina 

.f ‘ .Kansas atv 

4<D* 

1513 

2511 

New Orleans 

4334 

1477 

2959 

T atone 

Indianapolis 

4051 

'1585 

2444 

Tanwa Bay 

4407 

1437- 

2770 


y Cincinnati 

4256 

1453 

2903 

Atlanta 

MJ® 

1552 

2919 


:•* Houston 

430 

1*28 

345* 


INDIVIDUAL 



j 

Miami 

4430 

1781 

2707 


Qwtatacki 




:: San Diego 

4473 

1538 

2135 


ATT COM YDS TD INT 




9 249 IX 
0 341 152 
0 359 194 
0 35* 1*7 

0 25* 147 

1 174 149 
O 255 19* 

0 274 21* 

1 203 197 
0 223 T74 
0 249 2H 
0 1*9 341 
0 231 223 
0 M3 304 
0 222 307 

0 214 232 

2 IN 242 

1 14* 24* 
0 14* 344 
0 147 303 




W 

L PCI. 

GB 

Boston 

12 

2 

•957 

— 

NSW Jersey 

* 

7 

-583 

4 

Philadelphia 

6 

9 

JCO 

ft 

Washington 

6 

* 

MA 

4M 

New York 

3 

12 

200 

*Vi 

central Division 



Milwaukee 

13 

5 

m 

— 

Detroit 

11 

5 

MB 

1 

Atlanta 

9 

8 

J 00 

4 

Chicago 

7 

10 

.412 

5 Vi 

Cleveland 

ft 

10 

J7S 

ft 

Indiana 

3 

11 

.214 

8 

WESTERN CONFERENCE 


Midwest DMMoa 



Denver 

11 

4 

J33 

— 

Houston 11 5 

MB 



vs 

Utah 

9 

7 

J83 

2Va 

Dallas 

7 

7 

-9B 

3VS 

.San Antonio 

7 

8 

•447 

4 


Sacra memo 

5 10 

Pacific DMstoa 

sa 

A 

1— A. Lakers 

13 

2 

MS 

— 

Portland 

10 

7 

599 

4 

Seattle 

7 

9 

AM 

8 VS 

Golden State 

7 

10 

•412 

7 

1 — A. aieoers 

4 

* 

■400 

7 

Phoenix 

2 

14 

- 12 * 

in* 


INDIVIDUAL 


O'Brien, Jets 
"Foots, SJ3. 
JE&kuon. cin. 


ATT COM TDS TD I NT 
353 216 2944 IV 4 
33* XI 279* 21 14 
304 179 2231 17 9 


MCManan, ChL 
Montltafl, SJP. 
sunma. Giants 
Brack. Roms 
□.Whit*. DaO. 


231 136 17*4 13 7 

3*4 217 2SX 19 * 

3*9 205 2971 14 13 

295 170 2077 II 12 

374 222 25*4 14 14 


Hockey 

NHL Standings 


WALES CONFERENCE 
Patrick Division 


’ -w- 

V 

• 

rr 7 

Knmev. K.C. 

31* 171 2711 15 9 


ATT YDS AW LO TD 


W L 

T Pts i 

SF GA 


, ^ 

. a" 


■ Marina Mia. 

43* 360 31*4 1* 17 

Riggs. AtL 

2*9 1249 A3 

33 7 

PtUiaoelpMo 

17 4 

0 

34 

104 

45 


4 .' 4 •*’ 




Rushers 

Payton ChL 

230 1185 52 

40 0 

Washington 

13 6 

2 

27 

83 

65 


■ r " 


J" > 


ATT YDS A VC LG TD 

Wilder, TA . 

290 103* A7 

. 34 0 

NY islander* * 7 

4 

22 

77 

79 



•it. \ 4 

. J 

Jwiea Raiders 

27ft 1236 43 *19 

Dorseft. DalL 

231 M 2 f <S 

60 ft 

NY Rangers 

U 10 

1 

21 

M 

M 



% f 

iT 1 ' 

: McNML Jets 

221 H02 SO ft* 3 

Dkktnoiv Ram 215 835 X? 

43 K 

New Jersey 

* 10 

1 

19 

73 

79 


, ■ *. 

r r . 

w < 

. Mack, Clew. 

174 092 SI 41 4 


Receivers 


Pittsburgh 

• T 2 

3 

IS 

73 

82 


^ - 

T h 

l # 4 . 

■ Warner. Sea 

22* 875 30 24 4 


MD TDS AVO LO TD 


Adams DMsiea 






- \ 

P J 

D m 

CJames, NJE. 

175 848 40 45 3 

Craig, SJ=. 

70 933 1L* 

72 5 

Boston 

11 4 

4 

34 

■9 

72 


’ 

'.'-f 1 

\ ■- , 


Receivers 

HUL DalL 

47 959 142 

4 » 5 

Buffalo 

12 8 

1 

2 S 

92 

64 



, • : w 

\ 'r' 


MO YDS A VO LO TD 

Monk, Wash. 

59 TW 112 

50 1 

Quebec 

Id U 

V 

21 

m 

75 


"■ 

‘ \ i 

i 

^ • 

James, SJ3. ' 

49 881 HO ‘ 47 5 

Jordan. Mfna 

56 410 11.1 

23 0 

Montreal 

9 B 

3 

21 

ii 

80 

- ' 

_ V- ■ 



■ Stall worth, pm. 

42 744 130 41 4 

. Lofton. fiJL 

SI 949 162 

34 3 

Hanford 

9 H 

0 

18 

69 

77 

* 




: Christensen, Ratdri ftl 745 112 48 5 

Scerlnn rreachODwAO 


CAMPBELL CONFERENCE 


"T"’’ 




LargenL Sea 

39 *71 US 43 4 


TD Rush Rnc Ret Pt> 


NerrH Divtstan 






. f " 


Clayton. AUa 

5ft 7*5 MJ 45 2 

Crate, SP. 

12 ’ 7 5 

0 73 

51. LOUlS 

9 I 

3 

21 

71 

76 


’ ■ ■ 


v - • 

f 

Ponton 

Monts. Chali 

11 11 0 

0 4ft 

Chicago 

9 10 

3 

21 

91 

*5 




i- 


NO YARDS LONG AVO 

Dickerson. Rams 10 10 0 

0 40 

Minnesota 

4 ID 

5 

17 

77 

82 



:..n 

- * 'j 

Stark, ind. 

61 2816 69 443 

Pcrytofv QiL 

10 0 2 

O 40 

Detroit 

4 12 

4 

13 

43 

103 



f - _ k .‘ 

rC - 1 

Camarilla K.E. 

79 3406 75 4X7 

DorbMIe DoU. 

* 6 3 

0 34 

Toronto 

4 14 

3 

IT 

75 

94 


• 

r*‘- " 

r-V 

Wetov, Ma 

46 2Mft (0 4U 

Senrtnn (Ktcklegl 


Smyrna Dtvtstsn 







■ . 

. ettWetanka SLD. s* 23*4 47 *LS 


PAT FO 

Lb Pts 

Edmonton 

a 4 

2 

32 

103 

73 


•- ^ .. 

v « 
■* 

MCI natty. On 

48 3054 64 4 14 

Butler, ChL 

41-41 22 <27 

46 U7 

Calgary 

11 7 

3 

23 

*1 

74 





Scorfna (TeacMagnm) 

Murray. DaL 

23-24 2V2S 

51 14 

Vancouver 

9 12 

3 

20 

92 

97 

' 


Vvf 



TD Rase Rec Ret p» 

IgeMtHlllab T.B. 

25-24 20-25 

S3 85 

Wtantoeg 

9 12 

2 

18 

92 

104 


* 


j5 

Alien. Rakten 

11 * 2 « 44 

Andersen. HO. 

22-23 20-24 

65 .82 

Las Angeles 

5 14 

2 

12 

71 

104 





Lteoa Pttt 

It 0 * 2 48 

Lxkharal. AtL 

22-23 19-21 

S3 7* 



— 

— 




. jf 


y 

Turner, Sea. 

10 0 10 0 40 


PMUars 


TUESDAYS RESULTS 




Brooks, an. * 5 4 0 54 

polo*. Jets 0 7 2 0 54 

Scoriae (KIcfclM) 

PAT FO La Pf« 
Anders o n. Pin. 2M9 23-31 9 99 

LOOfty, Jofl 34-25 19*77 53 *1 

KOriEi, Dan 3W3 2042 49 90 

Broach, On. 31-13 JF24 53 H 

IMVOfz. MkL 340519C1 45 99 

Pont taknin 

NO YDS AV® LO . TD 


9 54 

® ^ Cofoman, Minn. 

Londota atoms 
■ ™ Donnelly, AIL 
“ !• Buford. ChL 
? „ Hatcter, Rami 


NO YARDS LONG A VO 
tn 48 Z 121 42 4X2 

rttS 9 2542 49 419 

S» 2574 61 <24 

54 231* ft* 425 
M (7 2244 47 425 

Pant aetwtwn 
NO YDS AV® LO TD 


OukM 2 (11). Rfoehravah <41; Goulet (12). aitchar. 


Selected College Results 

EAST 

Army 9X Varmnnl 76 
HrtMM n. MIT 54 
Connecticut 80. Yoi* 74 
FOrdham *X Lora lakmd U. 5* 

Hof lira os. Brmyn 27 
Now 84. Wcjfmlmter (Pa) 54 
Penn 70. Karttord 84 
Prince too 4ft, Left Ion 47 
Richmond 70, providence 42 
Sctoa Hall 7f. cant. Co nn ec t icut 5* 
Svrawie M, Cornell 42 

SOUTH 

AJOL-airnUrtoham *2. Ma Baptist H 
Duke 94. winter! X Mo ry *1 
Maryland 91, Geonw Mason 90 
Misstated 90. ChrUHan Bros. 67 
North Carolina 110. Iona *7 
Wake Forest 4& N.C-Cnariotte <7 
MIDWEST 

Illinois RL Loyola HIM 44 
Lafaveno 87, Boll St. 72 
Maraoette 94 PraH-le View 58 
Mlchloan SI. 99. MalnaOrano 59 
Nebraska 85. s. liuaafo X 
NarttnMestern 77. Los Anoelea St. *3 
Ohio SL 91 Brooklyn Col. 57 
Purdue OX Stetson 52 

SOUTHWEST 
Baylor 87. Oral Roberts 59 
Lamar 79. vutonovo 3* 

Texas Christian 57. Howard Payne 46 
FAR WEST 
Air Force 77, Doana 58 
Kentucky BV, Cn om ln u de 57 
Oklahoma 111 Hawaii Loo 5* 

Pepper dine 94 WOtfitastan Sf. 74 
San Francisco *4 Nov.-Rmo 95 
Stanford 97, G*oroe wauitagion 77 


Transition 


* CALIFORNIA — 5 taped Bobby Grich. tec- 

• 3 0—3 and baseman, to a ane-vear contract. 

9 1*—) MILWAUKEE— Released P*» Ladd. 


TUESDAYS RESULTS 
Oevelaad M 23 25 3*— *9 

Detroit 2* X 27 34—113 

Long U-17B02I.Jahnson5-134MU.Camp. 
bell 7-U DO U; Kbaan 1 1-22 2-5 24 Janee 10-19 

2- 2 22. Rebeandi: Cleveland 54 (Hinson 12), 

Detroit 40 ILolmbeer 151. Assists: Cleveland 
X (Miimiefleid 5), Detroli 34 (Thomas 171. 
New York 22 a 22 22— *4 

Atlanta 24 X X 23—104 

DJWIlkJm IT-36 13-14 35. Johnson 9-13 BO 16; 
Tucker *-11 OO 3a Ewtna 7-13 4-6 18. Re- 
tomdi: New York *0 (Cu m ndnos 9). Atlanta 
Xtawuhlnof). Assists: New York 1 * (Walk- 
er 7). Atlanta X I W hitman 5). 

Gataea State MUX 34— IN 

Hwefan 31 25 42 34—138 

Olaluwan B-14 5-421, Ltavd *-15 3-3 2L Samp- 
son e-U 2-210: 5hart 10-204-5 24 CarnNI F22 X5 
21- Rebounds; Golden State 40 (Smith 111. 
Houston 58 (Sampson 12). Atites; Golden 
State 27 (Floyd 12). Houston 35 (Lucas 18). 
Boston X 33 24 34—99 

Philadelphia II 32 J* 15—91 

Parish 9-154-5 ZLMcHato 10-14 DO 20, John- 
son *-14 M X: Barkley 9-1* 4-7 34 Ei-vtao 3-U 
75 17. Raboapds: Boston 49 tMcHale 13). Phlh 
odelohJa 37 (Malone 13). Asites: Boston 35 
(Bird 11). Philadelphia 2* (Cheeks 111. 
Wd shl wlwi 34 X 22 23-** 

DaBM 27 IS 34 24—112 

Harper 9-12 4-* 21, Vincent 9-14 1-1 1*; Ru- 
lond 7-14 *-*20, Malone 9-15 2-220, Roblnson*- 
150-01XWUIIaats5-1274 IXRebomMS; Wash- 
taston 42 ( Ruland 13), Dallas 44 (Donaldson 
11). JUudsft: wrahlnatan 32 [Williams 10). 
Dallas 75 (Aaufrre 6). 

Chicago is 29 3* 51 — 12 * 

Denver 20 34 27 34—19 

Genrtn*-)* t-ID 27. Dtflley 7-12 10-11 J4: Erv 
oUsh 9-19 10-10 24 Lever 7-11 7-9 23. Evans 0-13 

3- 42XReboadds: Chicago 55 (Corzlno 9) .Den- 
ver 50 (Lever ill. Assists: Chicago 19 IMocv 
6), Denver 30 (Evans 7). 

la. cuppers a » si 25— tf 

Seattle 2 * 37 31 27— in 

Chambers 1715 4-4 29. MeOanM B-ll 3-4 1*; 
AAJahnson 11-1* 7-* 30. Maxwell 713 1715 30. 
R eb eandi: Los Anaeles as (Maxwell IO|.Soal- 
tte 45 (McCormick 11). Assists: Las Anpetes 23 
(Nixon 7). Seattle 36 (Young 9). 

Phoenix 31 a 1* 20—107 

Sacra mento 37 27 M v — tn 

metis 1 1-14 73 25. Thorpe 5-7 M 14 Draw 4- 
13 3-4 14: Eowards M-3T 73 3X Davis 1724 5-7 
39. Reterads: Pnoenix 43 (Nance SI. Sacra- 
menlo53 (Thompson H)). Assists; Phoenix 25 
I Davit 7), 5acramenra 3* (Theus ID). 


and just in time for Thankspving. 

The hit-or-miss financial structure 
of the 1984 Summer Games, which 
allowed tbe Los Angeles organizers 
to make a $220 million profit, is 
being dragged into the real world. 

From here on in, no more Mr. 

Nice Guy. The control erf Olympic 
endorsements is too important to 
be banded over totally to small- 
potatoes groups like Peter Ueber- 
roth’s Los Angdes Olympic Orga- 
nizing Committee and national 
Olympic committees. 

The true superpowers, tbe multi- 
nationals that sell goods around the 
world, felt they were not getting 
enough bang for their sponsorship 
bucks during the 1984 Summer 
Games, and have cut a new deal 
with the International Olympic 
Committee itself. 

The new sponsorship policy wfl] 
allow worldwide companies to bid 
for a monopoly on Olympic spon- 
sorship in 44 separate categories, 
ranging from cameras to credit 
cards. The winners will be licensed - , 

to fak Ihdr corporate logos with J«» Alltono &mraKh 
the Olympic logos wherever there is Credibility and a bagful of goodies. 
a consumer with a few spare pesos, 

pounds, rubles, rupees or dollars, ranged by ISL Marketing of Swit- 

The good news was announced zerland, and the funds will be di- 
in New York on Monday, blessed vided among the nations that nego- 
by Juan Antonio Samaranch, who date with ISL and the IOC lo join 


*- - • * new arrangement is Coca-Cola. 

which manufactures fizzy black 
sugar water and occasionally 
changes the recipe and then 
changes it back, a marketing and 
dietary policy that wiil be bird to 
explain to future generations,. 

Coca-Cola, which spent $26 mil- 
lion in network advertising for the 
tj 1984 Summer Games, according to 
^ “ a recent estimate in The Wail Street 
Journal may not commit as much 
-** to the 1988 games because of ths 
nonprime-ume hours of the events 
in Korea. 

Donald R. Keough, president of 
the Coca-Cola Co., praised the new 
sponsorship package with the IOC 
because “we spend a hell of a lot of 
y? money, and we want more mileage, 
more control. This way we have a 
clear understanding cf what our 
rights will be.” 

Asked if Coca-Cola might be 
committing $10 million to the new 
arrangement, Keough said, “Ten 
million, that’s a nice figure." 

The new president of the U.S. 
Olympic Committee. Robert H. 
Helmick, stressed that the new ar- 
_ . . _ / p rangemem was not a reaction u. die 

Juan AnUmo banmanen Los Angeles committee, which 
Credibility and a bagful of goodies, asked for voluntary services and 

then paid large bonuses to key { -taff 
ranged by ISL Marketing of Swit- members and turned up with a 
zerland, and the funds will be di- $220 million profit. 


The Los Angdes experience still 
causes a diplomatic quiver in Sa- 
maranch. who had asked for a S" 



practices shuttle diplomacy as pres- this new sponsorship plan. The in- maranch. who had asked .or a j • 
idem of the IOC. No dubby ama- come will range from perhaps million "gesture" to repay nations 
tear sports official like those of 510,000 for a nation with few com- f° r ^h 31 ^ e y speni on lodgings, 
past generations, he was tbe presi- pe Liters or little economic pull to P 6 *® 1 Ueberroth, now commission - 
dent of the Assembly of Catalonia, large sums for nations that have the a of baseball, had favored giving 
a S panish province with its own clout to cut a better deal. some money to needy nations, but 

language ana its own heritage, dur- Under the new finan cial arrange- ^ successors pared down the “ges- 
ing the ticklish final years of the lure," and the bulk of the 5220 

Franco regime, and he was later 11 "• ■ ■■ million is being distributed ;o U.S. 

Spanish ambassador to the Soviet 'We sneud a hell of a spotis programs. 

Union. » “I think never more will you 

His current olive-branch mission lot of money, and we ^ a . ve t * iese P rp fi u .” Samaranch 
is to persuade North Korea to par- J ,. said Monday, 

ticipatein the 1988 S umm er Games Want more mileage. Or at least the profits will be cut 

in South Korea, and his diplomatic i m> . up differently. Fortunately, it is not 

tools include his credibility is Mos- more Controls 1 II IS just corporations and sports agen- 
cow and a bagful of gootfies that wav „ -Ip-r •** **“* P roflt frorn . Lhe Olympics: 

might include bolding some Olym- ” 4 ’ wc ua>c “ L1Ci11 tbe athletes are getting theirs, ioo. 

inc events north of the 38th Pa™]- onderstandlng of what 

In a private interview on Mon- our rights will be.’ obviously making big bucks from 

day, Samaranch displayed a telex 0 endorsing every product in sight: 

message be had received only hours more power to beT. but with a maxe- 

before. sicnifvine that the North meat, the host countries will still mem the last of the naifs learned 


World Cup Prologue 


SUMS OH 0801: Cateary (on OeeMlInJ 7175— 
27: Omsk (on LameUn) 11-7-14—32. 
WitaHptf 3 19-1 

Now Jonty 12 1—4 

Mullor m. Pnm« (9), Adams (5). Mo- 


football 

NatkMal Football Leaone 
ATLANTA— Waited State BarikowSkL 
BuariwDaek. 

BUFFALO — Announesa tte rettremont tH 


'i •’ UPeaPm. ' 

2 * 

an 

1 X 4 

n 

£ ; Fnrar, NJE. 

32 

381 

IV* 

n 

’ w] walker. Rotdsrs 

3 * 

444 

1 V 4 

30 

j Martin, ma. 

33 

371 

112 

70 

r pjwasoa Butt. 

16 

1*1 

10 . 1 - 

30 

Kickoff Rofuroere 

NO YDS AVC LO 

f Bentley. Ind. 

16 


3 X 8 

43 

f Tasker. Hou- 

17 

447 

US 

a- 

Drewrey, vtou. 

19 

3 W 

24.1 

N 

V Johtwna Dea 

SO 

505 

2 S 3 

34 

Martin, On. 

32 

747 

2 U 

43 


Eitaro. Poms 

2* 

49Q 

145 

*0 


Moadley, D*L 

27 

229 

12.1 

63 


Jimlto. SUL. : 

29 

22B 

ILO 

31 


jenklns, wash. 

39 

341 

105 

3» 


McCanker, Giants 

» 

29 

W 

37 



cLean ( 4 ); Hawercnuk 2 ( 13 ), waftars ( 3 ). jm DoLamloHowra. guard. 


European Soccer 


. UEFA CUF 
(TWrd Round, Pint Lev) 

Spartak Mosco w X MftW** 1 

Dnepr DnonraMirask X Hakfok SolH 1 


SMtftoo goal: wknlara (an BlUinotan) 7-17 
11—91: New Jersey (an Hayvmra) 77- TO— 24 
Taranto *19—1 

SL LMb 1 3 1—5 

MUtan (12], Fedorko (5), Huofor 3 IB); 
lafnm (l).SMtsoagaai: Toroan (onMlllen) 
74A-15: SL Laulo UA Etewras) 17U-I3-34 


HOCKEY 

NfltlMa) HedteT Leoggs 
QUEBEC— TradOd Mario Marias. Ckrtoioe- 
maibto Wbw teen far Robert Plcnra.dafoas*- 
maa 

COLLEGE 

TENNESSEE WMARTiN—Aimaunced the 


ua,B0 * 3 *-4 resJgwrttari of Fred pfokara foonall coach. 

oMuvor 3 1 9-4 TENNESSEE TECH— Announced the res- 

Brawn U). Benwvln (9), Boudreau (1), lononor of Gorv Darnell, fcwrtxjll coach; o»v 


BJWum»-(4). Tjnurrav (121; Neekr (ft), 
Dataneault at. LMMtr (ft). Stats an goal: 
CMcaeo (an Bradevr) KHM-B. - Vancouver 
(on B e nwerrnen) W-B. 


nouncM the apaointinenl of Jame* Ragland, 
foamatt eoaOL 

TEXAS-EL FASO— Firw BUI Yang, IMt- 
Dail Coach. 


MEN'S GIANT SLALOM 
(a! Sestrtara, Hair) 

1 . Rcterl Ertadwr, lialv. i: 03 A 3 - 1 :RJ> 4 — 
Z-G 5 JI 7 mlnula 

2 Joel Gasniz. SwHraniand. i:U»- 
1 :02J3— 210412 

1 Baris Sbei.Ywwntovia 1:001-1:1044- 
2:0475 

4 Bo Ian KrisaL Yugoslavia, 1:0441- 
1 : 02 . 19 — 2 : 047 * 

5. HuOtrt SirtU. Austria 1.-1098-1 :BZ.*2- 
2-.3490 

4 Oswald Tor rim I fair. 1:04*0.1 :D2Ja— 
2:0498 

7. Rok Petrovic, Yugoslavia i:D4A7 
1:02A4— 3;07 Ab 

1 Alberta TaRtaa Italy. 1 : 04.95-1 :«L47— 
2 : 0 ? 

*. Rlctiard Pramonofl, Italy, 1:0459- 

1 : 02 . 97 — 3 .- 07^5 

ia Ale> aioraL 1 WIV. 1 :0U9- 1 .-ttLST—TzOTM 
n. Martin MangL Swmwiana 1.04^3- 
1:0174— 2:07 A7 


tools include his credibility is Mos- uiurt luuiroii l nift just corporations ana sports agen- 
cow and a bagful of gootfies that wav wf% «» d* 1 P rofit frorn . Lhe Olympics: 

might include bolding some Olym- ” 4 ’ wc ua>c “ tbe athletes are getting theirs, ioo. 

understanding of what 

In a private interview on Mon- OUT rights will be.’ obviously making big bucks from 

day, Samaranch displayed a telex 0 endorsing every product in sight: 

message be had received only hours more power to bcr. but witb amaze- 

before, signifying that the North ment, the host countries will still mem the last of the nails learned 
Koreans will attend a meeting with make “the lion’s share” from sepa- this week that she is considering 
South Korean Olympic officials in rale sponsorship deals and from participating in the 1988 Games. 
Ijntcanne Switzerland, in January, the television networks, according That is io say. through the blaiani 
He said proudly: "To have officials to Richard Pound, a Canadian ploy of trust funds, she is still ar. 
from North and South Korea nego- member of the IOC who is fast amateur, Wheaties and all. 
tinting is a very positive thing.” emerging afi one of the most capa- "We must go step by step." said 


& He said proudly: "To have officials to Richard Pound, a Canadian ploy of trust funds, she is still ar. 

vt slalom from North and South Korea nego- member of the IOC who is fast amateur, Wheaties and all. 

Mta!”Sa-i:Bw- tinting is a very positive thing.” emerging as one of the most capa- "We must go step by step." said 

Samaranch recently traveled to ble officials in the Olympic move- Samaranch, who noted that once 
swHrantancL i«» Hanoi to explain die new endorse- meat. Pound said approximately again in 1988 some professional 
tovia 1 : 001 - 1 : 0344 - nienl policy to the communist na- 100 of the 161 Olympic nations had hockey and soccer players will 
tions. He said tire officials were agreed to join the new plan, indud- compete against sure-subsidized 
Yugoslavia i;D4Ai- eomfartflhle with the Knlr wirh mill- mg seirral Eastern bloq countries, amateurs from the Soviet bloc hc- 
ctrfa i:UM-i;B 2 .* 2 — tinationals, which is no surprise, “We are also putting together a cause, as Samaranch said. “For me, 
when you stop to think about h. package of 44 categories, winch it is the same." 

fair. i:&4.*o-i:auo- principle of tbe endorse- means these companies don’t have By 1988, in impoverished vil- 

vuoostavta. i : D 442 - meat policy is to share tbe wealth to knock on 161 doors around the I ages around the world, the mos; 

from tbe 44 chosen benefactors, world,” Pound said. "We can offer persistent sign of civilization will 
»i*. i:iM.95-i:oa47- which certainly fails within the her- the concept of exclusivity around be tbeOlympic logo splashed on a 
«oa itoir, i:B 4 s»- itagp of “From each according to the world. Our feeling was that the Coca-Cola delivery track. By then. 
Ins ability, to each according to Us whole would be greater than the the Ueberroth commerce of 1984 
willingness to boycott" sum of its parts." may be seen as the good old days of 

The first company to join the mom-and-pop amateurism. 


willingness to boycott." 

The sponsorships will be ar- 


il 








Pag. 


ALfc 

(«> 

BAN 

'(d) 

■(d) 

■(d) 

•td» 

-Id) 

■(d) 

■(d) 

BNP 

-«w) 

-tw» 

-iwt 

-lw) 
-ter) 
(w) 
BAH 
•(d) 
-Iwj 
■(*»: 
-I w 1 
-i « : 
-(w 
-Id 
-Id 
-id 
SRI 


(W 

-(d 

-id 

■lw 

-lw 

■lw 

•Id 

-tw 

■td 

-id 

CAi 

•(w 

3 


j n 

PQ 

(d 

(d 

CR 

-Id 

-vd 

-id 

-td 

-Id 

-la 

-(d 

-le 

-le 

-le 

-u 


-«c 


•le 

-Ic 

-Cr 

■te 

-Ic 


DP 

WI 

LO 

■(v 


-l» 

-(• 

Dl 


Dll 

-(r 

-ir 


Al 

Ar 

Al 

Ha 

Ba 

Be 

Br 

Bki 

Bu 

CO 

Co 

Di 

Ec 

FI. 

Fr 

Cfl 

HI 

1ST 

La 

Ul 

La 

Me 

Mi 

Ma 

MU 

Nil 

09 

Pa. 

Pn 

Re 

Rat 

5<o 

Sir 

V«r 

Vie 

Wa 

Zur 


M 


Am 

Bel 

Dai 

Jtr 

Tel 


OC 


Am 

Sit 


TH 

Slto 

MA 

(S3 

II- 

(30 

Ton 

Rol 

TQI 




V 


Page 20 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, NOVEMBER 28, 1985 


ART BUCHWALD 


Explaining Thanksgiving 


(And then, on the last day of die summit, Mikhail Gorbachev turned to 
Ronald Reagan and said, “Tell me, Mr. President. What is your Thanksgiv- 
ing Day all about?" A nd Reagan replied, “I can only explain a to you as I did 
to Francois Mitterrand '."I 


O NE of our most important 
holidays is Thanksgivin g Day, 
known in France as leJourde Mer- 
ci Dormant. 

Le Jour de Merd Dormant was 
first started by a group of Pil grims 
( Pilerins ) who fled from I’Angle- 
terre before the McCarran Act to 
found a colony in the New World 
Ue Nouveau 
Monde ) where 
they could shoot 
Indians (les 
Peaux- Rouges) 
and eat turkey 
(diode) to their 
hearts’ content. 

They landed 
at a place called 
Plymouth (now 
a famous nature n , 
Americaine) in a Buchwald 
wooden sailing ship called the 
Mayflower, or Fleur de Mai , in 
1620. Bui while the Pderins were 
killing the dindes the Peaux-Rouges 
were killing the Pelerins and there 
were several hard winters ahead for 
both of them. The only way ihe 
Peaux-Rouges helped the Pelerins 
was when they taught them to grow 
corn (mais). The reason they did 
this was that they liked com with 
their Pelerins. 



words but of action (un vieux Fan- 
fan la Tulipe), offers his hand and 
his heart, the hand and heart of a 
soldier. Not in these words, you 
know, but this, in short, is my 
meaning . 

"lama maker of war (Je suis un 
fabricant de la guerre ) and not a 

maker of phrases. You, bred as a 
scholar (Vous, qu i etes pain comma 
un itudbmt), can say it in elegant 
language, such as you read in your 
books of the pleadings and wooings 
of lovers, such as you think best 
adapted to win the heart of the 
maiden.'' 


□ 


Although Jean was fit to be tied 
(convenablc a etre embttUe ), friend- 
ship prevailed over love and he 
went to his duty. But instead of 
using elegant language, he blurted 
out Ms mission. Priscilla was muted 
with amazement and sorrow (ren- 
due rrmette par Yetonnemenl a la 
mstesse). 


In 1623. after another harsh year, 
the Pelerins' crops were so good 
that they decided to have a celebra- 
tion and give thanks because more 
mais was raised by the Pelerins 
than Pelerins were killed by Peattx- 
Rouges. 

Every year on le Jour de Merd 
Donnant, parents tell their children 
an am usin g story about the first 
celebration. 

It concerns a brave capitame 
named Miles Stan dish (known in 
France as Kilometres Deboutish) 
and a shy young lieutenant name d 
Jean Alden. Both of them were in 
love with a flower of Plymouth 
called Priscilla Mullens (no transla- 
tion). Hie vieux capitaine said to 
the jeune lieutenant: 

“Go to the damsel Priscilla {A lie: 
ires rite chez Priscilla), the loveliest 
maiden of Plymouth (la plus jolie 
demoiselle de Plymouth). Say that a 
blunt old captain, a man not of 


At length she exclaimed, inter- 
rupting the ominous silence: “If the 
great captain of Plymouth is so 
very eager to wed me, why does he 
not come hims elf and take the trou- 
ble to woo me?” (Oti est-il. le vieux 
Kilometres ? Pourquoi ne vient-il pas 
aupres de moi pour tenter sa 
chance l*) 

Jean said that Kilomitres Debou- 
tish was very busy and didn’t have 
rime for those things. He staggered 
on, idling her what a wonderful 
husband Kilometres would make. 
Finally Priscilla arched her eye- 
brows and said in a tremulous 
voice: “Why don’t you speak for 
yourself, Jean?” (Chacun a son 
gout.) 


And so, on the fourth Thursday 
in November, American families sit 
down at a large table brimming 
with tasty dishes, and for the only 
time during the year eat better than 
the French do. 

No one can deny that le Jour de 
Merd Dormant is a grande fete and 
no matter how well fed American 
families are, they never forget to 
give thanks to Kilometres Debou- 
tish. who made this great day possi- 
ble. 


Fashioning a List of Best-Dressed Men 


By William E. Gcist 

New York Tima Service 

N EW YORK— “Yeah," said 
Charles Richman, picking 
up the phone at the Fashion 
Foundation of America. “This is 
Fashion. Whaddyawanl?” 

This l> a busy rime at the foun- 
dation. which has just announced 
its 44th annual list of the world's 
best-dressed men, featuring Pres- 
ident Reagan, Prince Charles 
and, inexplicably, the mayor of 


“I am the foundation for the 
most part,” explained Charles 
Richman, of the Fashion 
Foundation of America. 


Jersey Gty, who intimated that 
) tone 


this is the kind of honor that can 
ruin a man in Jersey City. 

Calls were coming in from re- 
porters throughout the metropol- 
itan area and beyond, with only 
Richman there to field them. “I 
am the foundation for the most 
part,” he explained, digging 
through stacks of cascading pa- 
pers to find the ringing phone. 

The foundation is in a small 
and unfashionable office at 44 
Court Street in downtown Brook- 
lyn, manned by Richman. He de- 
scribes himself as an old public- 
relations war horse and claims to 
have invented best-dressed lists 
bade in the 1930s. coming out 
with the foundation's first in 
1941. Today there are many best- 
dressed lists, but Ms still attracts 
worldwide attention. 

Richman said press agents, 
politicians and tailors to the stars 
clamor to have their clients 
placed on the list. Sometimes 
they offer him money, which he 
said he refuses. 

Those named to the list have 
often used the honor to further 
their careers, going on to do com- 
mercial endorsements and even 
to start their own lines of clothes, 
he said. 

Anthony R. Cued, mayor of 
Jersey Gty, was wearing flexible- 
waist, polyester-blend slacks 
when he learned of his selection. 
He said he was stunned and per- 
plexed and had no plans for a 
collection of Cued wear, al- 
though the name does have a ring 
to it 

His selection left those in New 
York's fashion industry scratch- 
ing their heads Tuesday. 

“Talk about a dark horse,” said 
a spokesman for Bill Blass. 
“What is his look?” 

The door of the foundation's 
office reads “Brooklyn Record," 
with "Fashion Foundation of 



bobby Short and the singer Boy 
George. 

He said that they would all 


probably receive their honorary 
foundation medals bv mail, “af- 


America” in smaller letters be- 
low. The Brooklyn Record is a 
s mall weekly newspaper pub- 
lished by Richman. Inside, tele- 
phone numbers are written on the 
walls and the paint is peeling. 

Rooting through the piles of 
paper, Richman produces thank- 
you letters from past winners and 
wives, inrihiriing those from sev- 
eral first ladies: Jacqueline Ken- 
nedy, Mamie Eisenhower and Pat 
Nixon. There are lots of buried 
photographs of people receiving 
foundation certificates: Bob 
Hope, Ceasar Romero, Jack Ben- 
ny and Jimmy Stewart 

Richman is guarded in answer- 
ing questions about the list “I see 
photographs in the papers,” he 
said. “1 talk to tailors on the 
phone, or sometimes we have a 
few drinks and kick the names 
around.” 

He scouts the finalists to make 
sure they are somewhat dapper, 
and then “I make my recommen- 
dations to the committee,” al- 
though, be admits, there is no 
committee per se. 


“It’s an informal-type thing," 
he explained one in which he 
plays “a primary role.” 

He said the list had become a 
hobby. “There’s no money in it,” 
he said *T have no ax to grind 
We put the owner of Luchow’s on 
once and be invited me to lunch. 
That was nice. I get to meet fam- 
ous people — Elizabeth Taylor, 
Rosalind Rnssell, people like 
that” 

Told that Cued was perplexed 
by Ms selection, Richman said 
“he had been recommended and 
observed” and was placed on the 
list “as a nice-looking man who is 
interested in making neckties 
with an imprint of Jersey Gty 
and the Statue of liberty.” 

Admittedly, he said, Cucci 
“was not like Prince Charles, an 
open-and-shut case;’’ or Reagan, 
named to the list for the third 
rime “because his dothes fit just 
as well this year when he came 
out of the hospital as when he 
went in — incredible!" 

Fit is most important to Rich- 
man, who said the foundation 
placed Pope John Paul II on the 
list a couple of years ago. “He just 
wears his religious garb,” be said, 
“but he looks marvelous in it, 
doesn’t he?" 

Also included on the list this 
year are: the commissioner of 
baseball. Peter Ueberroth, the ac- 
tor Jason Retards. the pianist 


tho ugh we will hold luncheons if 
they pay for them.” 

Cued said he learned that be 
was on the list while in Atlantic 
Caty, on New Jersey's gold lam£ 
coast, at a meeting of the New 
Jersey Mundpal Lea gu e, a group 
totally to fashion. “1 

told the person on the telephone 
(hat I didn't have time for jokes 
and hung up,” he said. 

Cued has yet to assess the po- 
litical dmruig p of Ms selection, 
but wants residents of Jersey Gty 
to know that be is as surprised as 
they are and “that this does not 
necessarily mean that I am a bad 
person." * 

“I don’t want them thinking 

F m more interested in image than 
substance,” he said. 

Cucci, a former vocational 
education teacher, said he saw the 
award as an honor to his wife, 
Anna, who does his shirts and 
helps Mm shop for clothes. He 
said that he owned four or five 
off-the-rack suits — all made in 
the United States — and he swore 
he had never even been to Eu- 
rope. 

Mis. Coed said that for leisure 
wear. Coed favored his Police 
Athletic League of Jersey City 
jacket, and during the warmer 
months, “perhaps just a T-shirt 
for a trip to the mail.” 

“I shop the sales.” Cued said. 
“No silks, no way. I go for the 
polyester blends that hold up.” 

“I stay away from checks and 
plaids,” be added, showing a fine 
fashion sense for someone 5 feet 7 
inches and 184 pounds, with a 38- 
inch waist 

“I even wear unmatched socks 
sometimes,” he said, recalling a 
time on the subway when every- 
one was staring at his unmatched 
socks and be had to stand up so 
they wouldn't show. 

“This is Jersey Gty," he said. 
“I have not ruled out the possibil- 
ity that this honor is a political 
smear tactic." 

Ri chman said that be had 
weathered many a brouhaha over 
the years and was standing firm 
on Anthony R. Coed: “1 bad the 
mayor of Yonkers on one year. 
We lived through that" 


people 


HidiStakes 


in 


sa 


After an auction MMU-- 

KSaaffiS 

,o Edmund Moms % bWP b > 


to Ihe poDlisningii^-r-. 
lo Edmund Moms s biography t- 

atiTto torn!** » * 

Sieved to be *■*£££!£ 

ever paid for a angle “f 

important because for the 
aprcsidenl is allowing not ^>3 

historian but a Seated 

see history as it 0CCUI \. ^? 

imposing restrictions on the tnatm- 

Sroan of Random Houses Sepa- 
rately, Random House rfso pur- 
cha»d the sequd to Wto^ss Ingg 

rt |*y of TT»eodore RoosewlLlto 

fast volume, 

doreRoosevdCpubtehed^E-^ 
Dutton, won the 1980 
Prize and American Book Award. 
Morris. 45. said that contrary to 
reports that Reagan might newt a 

store of the book’s royalties Moms 


was appointed dnronr of 

and Hrwtna fOT the jObtABObh 

Festival. Id *95 9tofcft $outhj^g 

ca ro acttpi the poarios of 

cr with the Load 

• • - 


Harrfeeo Schmitt, SOlthe 

U. S. fistroawf and sm 
tied Teresa FtegftbouB 
querque, New Mexico, 
who asaaasgoBMM «tlt>tf 
moon during Jbe A 
in 1972. was ® _____ 

New Mexico from 1977 » }?83 Ffe 

was defeated in ito bid for a sctuQrf 
term. ... Die achtss'asd 
feme GSeS 

divorce in Las 

husband, Ww Wnjfcr ■ , 
directed fast year’s criacaBy 
claimed film, “fcmftVTttai * ~ 
were married m 1979: * 

tx 



-«T 


‘ ’ *' ffk ' 

Prince Ctorfoddivewd ascat ^ * 


.« 




written by me. me 
manuscript is scheduled for deliv- 
ery “early in 1991 " 

□ 


day. saying that 
get of becoming * ~ J 
nation unless it i 

pint <£ < 


Private groups can continue to 
use the term “star wars” to refer ur 
President Ronald Reagan’s masl? 

plan in commercials, de- 
spite the filmmaker George Inch’s . 
effort to banish the phrase to the 
|anrf of make-believe. U. S. District 
Judge Gerhard Gesefl rejected a 
morion by the “Star Wars” creator 
to stop two groups from us ing the 
phrase "star wars” in advertise- 
ments about the controversial de- 
fense proposal- Lucas “h as y 
property right in the use of words 
commonly found in the En g lish 
language,” GeseD said in Washing- 
ton in the unusual t r ad e ma r k c as e: 

D 


in Edinburgh, the 3Syta£-old ^ r 

tbcmsefwesas papetaiLcpmkWi i \ 

instead of [/ ' 

said Britain, i 




the goods aa bme-aridvwe don't' 
defrier the goodie? want We- 
can't go eo-sr (fenax j& way. 


m& 


rryfQ* 


Ernest Fktsdmann, 60, execu- 
tive director of the Los Angeles 
Philharmo nic for the past, 16% 
years, announced his resignation to 
become general administrator, and 
artistic director of the Fans Opera. 
Flasdunann’s r es ig n at i on is effec- 
tive Sept- 30. 1986. Fleischraann 


X'^iKi... 

try a Preach, bwft artificial-, 
tat dnfg wheA.hss.’ 


60, bom in Frankfurt, has lived in 
South Africa and England He be- 
gan playing the piano in pubtic and 
c ond ucting at age 9. He was a ma- 
rie critic at 17. In 1952, he 
nu mn organizer for the first .O-,— 
international arts festival held W 
South Africa, the Van Riebeeck 
Festival at Cape Town. In he 



W«bte?Sie»iinessi 
til works Bre*; 
wasqhl” He recetadti* heart of j 
•freadosm 

who had beea kprd ia a? 
roadaccideat.'- The- ‘surgeon. 
SoB^ rtod later at * \ 

.. .. .. . 


-ft 


LEGAL NOTICES 


COMMONWEALTH OF MASS, 

Plymouth County fVobate Court No. 
350107001 Gafl-Aim T. Houiahaa 
PIcintiH. vs. J Michael Houlahan, De- 
fendant. Su mmon s by Publi ca tion To 
the above-named Defendant. A com- 
plaint hoi been presented to this 
Court by your spouse, GaS-Aivi T. 
Houlahan. seeking to dissolve Ihe 
bonds of man m oi iy. for joint custody 
of minor diktat, lor conveyance erf 
red properly located at 4436 34th 
Street. Arkndoa Virgina. Standing a 
the name of GaJ-Ann Houtahai and 
J. Mchaet Houichan. as recorded 


with Arlington County, Virginia Land 
Es. Soak 18^9. Page 29. And 


Or call Our Agency Europeoi offices: 

PARIS D e A ar rfa International 


Eecords, _ 

order an equitable dnirfan of props: 
jy pursuant ta M,GL c 208. section 
You ere revered to serve upon 


Charles J. Bowser Jr„ fag, ptanftff's 
* eddress b 399 Boyl 


attorney, whose 
ston St., Boston, MA 02116 yaw an- 
swer on or before Jim. 20, 1986. If 
you Fol to do so, the Court wS pro- 
ceed lo the hearing and a^udcation 
of this acton. You ore trfso required to 
fie a copy of your answer m Ih office 
of the Register of this Court at r 
outK Witness James 5. lawtan, 


(11 43 43 23 64 

FRANKFURT j JSfijtl 

(069) 250066 

DUSSHDORF/RATINGBI 

(02102)45023 IMS. 

MUNICH LM.S. 

(0*9) 142244 

LONDON 


Rrst Judge of sad Court ar F 
29, 191 


C*a 29, 1985 John J. Daley 1 
of Probate. 


ANNOUNCEMENTS 


HAPPY THANKSGIVING, IHURS. 28 
AT THE UNO OPBA, 21 RUE 
0AUNCU, PARK 2 (Metre OPERA) 
Aw/ from home* You can stil cele- 
brate Thankspvmg t\ a tradtioncl fanv 
iy atmosphere. Come and enjoy a real 


America) Thanksgiving day font. DeS- 
Stuffed turkey with 


aous slutted turkey with cranberry 
souce. served with trodhond American 
side rfahes and pumpkin and apple pie. 
Musical ombance with Amencon foot- 
ball video dps from Bpm to 3 om. 
Per RersenreSon Cdt 42 60 99 89 


COVS4T GARDENS DECEMBER 12, 

Ftflcro’ - few best leds renewing, in 
da of the Abbeyfield Society. Perron 
[flH The Prince of Woles. Raid Gala 
Performance, vrith reception after- 


wards. Phone David Kmghr on 77 

ID Code 


■44845 (from London), STD ( 


1 0707. 


ALCOHOUCS ANONYMOUS et 
EngfisM^ris (daiy) 4634 5965. Rome 


PERSONALS 


HAVE A MCE QAYI BOKB. Have a 
nice day 1 . Beta. 


MAN AUBE PAULA 

TOUJOURS 


MOVING 


CONIUEX. Small & medrum moves, 
baggage, cars worldwide. Col Otar- 
ferP5a42Bl IB 81 Inear Opera). 


ALPHA-TRANSIT. Pans 8** 4289 2577 
Sea/oir. car. boaooae. al co un t ri e s 


MOVING 


ALLIED 

VAN LINES IN TL 


INTERNATIONAL CLASSIFIED 


ova 1300 OfHCES 
WORLDWIDE 


USA ARM Vcei Lines Inti Carp 
(0101) 312-681-8100 


bYl 

(01) 953 3636 
CaB for AlGecTs free estmn 


INTERDEAN 


WHO BSE FOR YOUR 
NEXT INTERNATIONAL MOVE 


FOR A HUE ESTIMATE CAU 


AM5TBDAM: 

ATHENS; 

BARCELONA: 

BONN; 


CADIZ: 

FRANKFURT: 

GBCVA: 

LONDON: 

MADRID: 

MANCHESTER; 

MUMCH: 

NAPLES: 

PARS: 

ROME 

VIENNA: 

ZURICH: 



REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


COTE D'AZUR. ST RAUL DE VBKE. 
Residential lot, superb ftw nyrf mas. 

*• LwwvAxniL^ IAA4Q, a w w 

Space. 6000 sqjn flat land, pool 
F4 200.000. Promotion Mazat, te 
RufiT/SfiOCO htce. Tet 93 88 V 37. 
Telex 461235. 


DO RtVKA PRICES icara voj? We 
rrovsn^oi 


how a lovely 4-bedroam 
4A 2 


wBa vdh 2 fireplacBS, authentic 
beams, aB modem manties end yet 
orrfy 15 mins ham Comes. CsO Mark 
on 93 38 19 19. S3, 47 La Ciaaetta, 
06400 Comes. 


N« 

22 


hi folkrtioH 

\^nCIeef&Arpds 

Paris 


THE NEW WATCH. 

From i 800.- 



VAN CMXFl ARPliLsS 

LONDON 


153 NEW BOND STREET. 

TEL: 01-491 1405 TELEX: 266 265 


REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


‘NEAR CANNES’ 


PROVENCAL STONE BUIIT HOUSE, 


5 BEDROOMS, 2 LIVING ROOMS. 2 
BATHROOMS, 2 SHOWS ROOMS,! 
AN ACRE GARDEN, SWIMMING 


POOL, GUARDIAN'S HOUSE MIC- 
■MM— r ~ n r ~ iti i 


GRAL AND DCXJBtE 

ATHJ COUNTIYSCE, 12 MMUTB 
CANNES, 15 MIN. MCE AIRPORT! 


WORTH F4.00&000, POR FAST 
XJID EXCffT F3, 25 0,000 


SALE WOULD 


PIEA5E CONTACT ON LONDON: 
01-739 09619 


am D'AZUR. VUBRANOC-sur- 
Mer. Panorami c sea viewj Provencal, 
400 nun. Evtng space, 100 sqjn. kv- 
ma r6ee grounds, pool, tenoa. 
F47QOf)oa Promotion Mozart. Le 
RuBT 06000 Nee. Teh 93 88 S' 37. 


Telex 461235. 


PARIS & SUBURBS 


500 SQJIA. DUPLEX 

wRk lANDSCAPB) OARDB4 

about 250 B^m- Old wood pm£ng in 
a refin ed decor, 4m high caEng, 3 sep- 
arate bedroom each with its awn 
sumptuous bmhroam & dressing 
Maids roam, parking, high doss bu£ 
tng Ready to move in. 


BATON 47 04 55 55 

TBEX BATON 630855 F. 


LOUVECOR4ES. OWPBt sdh Wi. 


«w 'rifc; constructed in 1980. hiaWy 
msiderebl West District. 340 


msmerwaiwesr LWnet, sm sam, 

fSStl Srs&TSt 1 


SPAIN 


PALMA DE MALLORCA 

OUT5TANDMG 

W« tn sure we after the most expen- 
sive apartments in Palma de M ol ar C O. 

We are tare you can't find better ones. 
Styated in Rta most elegant and quieS 
residerOd city «ea Breathtaking view 
on the sea, the aty, the h er faor. Only 
finest materiais hare been used for the 
14 aporhnm i t s : ttofiem marble, African 
wood, French oak etc. Each apartm en t 


vrith large Stag, sep arate dirwig. firq . 

complota krtawn. 


place, large terra ce, . 

separate toJs meet 4 bedrooms wrth 
bathroom ft waftrin daset etc. Totd 
about 360 sepm. property with 3,800 


sqjn. garden, indoor ft outdoor 
tarns, gmage. air-concStioring, doc 
man serwee etc. 

RffiCIO SON ARMADAM 

E^7014Mma6eV«orca 

Tet 5pam-71-28 99 00 


SWITZERLAND 


SUNNY SOUIHBIN SWnZBBAND 

LAKE LUGANO 

Urfwidi s w t m en b m o lag; 
bectahH pert with UfiOO sqm. private 
area, svnmning pool, private marina 
pnvrte beach. 1st queity opcrtrrm ia 
80 sgm. - 190 jam. -I- terraces 24 • O 
sgm Prices; SF463.900 - SF1.179.150 
or: The Repderaa Rwdago in me South- 
ern area of the Lab Lugano wtrfiapvi- 

merts 57 sqA ■ 130 sq.m. + btrfooniei 
Also ovarlooleng lake and mauntanL 
Bast toataan on the Un in re old 
Mrfarf vfl«. 

fWfc SraffirfSl - SF 485/150. Mort- 
gages at low Swiss interest coles. Free 
for icd* to foreigners. 


EMERALD - HOME LTD. 

Via G. Catted 3, GH-6900 L«m 
T el: Of-91-542913 - 
The 73612 HOME CH 


SWITZSLLAND 

Mmsencan buy in die Alps 

In fr from Geneva, in the heart of 


4 Vdtoyi over 300 Ians of store 
and 80 aid Kfis. 

Apartment. 64 sqjn. 5F132J00 
Apertnesrf, ?4 sqm., SRSSJJOa 


at intoned. 


FAC REAL ESTATE 
52 Monrtrflam. 01-1202 ODCVA. 
Tet 4122/341540. Trim: 72B30 


GBtfVA-mA FOR 5At£ Exclusive 
residential area. 1000 sqm. garden 
Co mplete ly renovated and modern- 
ized. WH suit Diplomatic Services or 
Jar - foody. 8 bedrooms, 5 badv 
!• .4, large receptions, snafcer- 

/games roam. Al amenitie s . Two 
gctasBta. kuumfcari y avo d oble unfur- 
mshea Substorterf price mquired. 5e- 
rious inqairim write Bar 42013. LH.T, 
63 Lena Acre. London. WC2E 9JK 


REAL ESTATE 
FOR SALE 


SWITZERLAND 


SWTTZHLAND 


LAKE GENEVA OR 
MOUNTAIN RESORTS 
Fomgnen an buy lovriy apartments 


or dialeB with m odnificpnt views. Mon- 
VorSer, Les Itablerets, 


treux, VScrs. Vl . 

Oiateou cfOcx new Gstoad, Leyna 


Prices from SF123j000. Ma^^ teugto 


65S a 6H% Merest. GLOBE PLAN 
SA, Av Mon Repos 24, Oi-1005 Lau- 


sanne. Switzerland. TA^21_) 22 35 12 


The 25185 ___ 

Visits w ri en m sd . Aha irsri re i di 


REAL ESTATE 
TO RENT/SHARE 


CANADA 


TORONTO, CANADA - LUXURY. 


t'Torqta 

80 front St Bat. So. 
M5E 1T4 Creodo. (416) I 


Toronto 

f-1096 


GREAT BRITAIN 


lONpON. Per Ihe best furnished flats 
and houses. Consul the S p eo a ks te 
Ph®p6. Kay red lewis. Tet South of 
Pork 352 Bill, North of Peek 722 
5135; Tele* 27846 RESIDE G. 


MAYFAIR. NEAR HILTON. wperb2- 
bed tet. £250/ week, 01-589 8223. 


ITALY 


When in Rome: 

PAIAZZO AL VBAHO 
Uacury apartment house writ furnished 
flats, avaiabh far 1 week and more 


Phone: 6794325, 6793450. 
Write: Via del Vriabre 14 
00186 Rome. 


REAL ESTATE 
TO RENT/SHARE 


HOLLAND 


DUTCH HOUSING CENTRE IV. 


Defame rentals. Vrioriusstr. 174. . 

. 02D621234 or 62322. 


A nete rdom. 


PARIS AREA FURNISHED 


Embassy Service 

8 Awe. de M e win e 
75008 Perm 

YOUR REAL ESTATE 
AGENT IN PARIS 
4562-7899 


Bysees-Concorde 

Aggtmerts / House s 
Start term iwrids 


ABP. 9 be Royrie. 75008 Pare 
Tet (1) 42 65 11 99. Trie* 640793F. 


AT HOME M PARK 

PARIS PROMO 


APARTMB4TS FOB RfNT OB SALE 
25 Ave hoche 
75008 Pkeis 


4563 2560 


74 CHAMPS-ELYSEES 8ih 


Stacfa. 2 or 3-ro cm apartment. 
One month or more. 

I£ OAI1DOE 4359 6797. 


REAL ESTATE 

TO RENT/SHARE 

PARIS AREA FURNISHED 

SHORT TERM STAY. From 1 week. 
Ally equipped itucfios end 2 rooms, 

up to 4 person*. OvampsBy“«*- tote* 

Oxarter txxJ Montoamame. Maid ser- 
vira panUe. Mr George: 43 22 82 50 

T7TH Near PARC MONOAU, 5 
’reeks, from Dec. 18th. fuBy furnished 
& equipped, 2 bedrooms, 2 sttBigs, 2 
baths, 4 fireplocm. FftSOO/weefaTTel: 
45 74 96 60. ext. 342, affira hours. 

MAJ(E YOURSHT AT HOME. 7 days 
to 3 momtB ei Psn 14th and 1 5lh, 1 -4 
room opertmenti, futy equipped. Td: 
1-430678 79 

BOB 06 VINCENNES. 3-roorn apart- 
ment, 1 weeftl month, 3 months. Tet 
enemas 43 28 32 01 

BASTIUE Jov, Feb, 120 sqm. over- 
looking cand, fueploce, F6500 / 
month. Paris 43 46 82 20 

SHORT TGtM IN LATM QUARTER 

No agents. Tet 4329 3883. 

SUHET 6 MONTHS. STUDIO, heart 
of 6lh. STUJ/month. Td: 45 48 S2 39. 

PARIS AREA UNFURNISHED 

25 KMS WBT PARS. Awvmi sir 
Oise. Beautifd thatched roof house 
farrertf. iy sqjc, 3 bedraorw, large 
faing & dining room, separate ga- 
rage. 1100 sqm. garden. FlftOflO/ 
month. Teh 140 32« 00. 

ST. GSRMAM-fPMAYE. Near Inti 
school, tegh class etoartments, 3/4 
room from frttOft TA *2 Z 32 25 

EMPLOYMENT 


SHOBT THW STAY. Advantages of a 
heed wrthom ncorrtgma a og, hte! <t 

home m nice stodos. one bedroom 

and mare in Poris. SORBJM: B0 rue 
de rUnrvemitfa. Paris 7th. 4544 3940 


LUXURY APARTM94T ... 
"Wri. garage. 4257 0414 


FOB THE FEATURE 

INTERNATIONAL 

POSITIONS 

TURN TO PAGE 13 


EMPLOYMENT 


EMPLOYMENT 


EXECUTIVE 
POSITIONS AVAILABLE 


EXECUTI VES AVAILABLE 


PBOODCT DCVHOPMB4T: UE Pub- 
fisher of consumer, haafaheare ft red 


Seeks industry |_ 

d development. Prefer geoerdist ndh 
sates experience in mdupte countries. 
Resumes Pinpoint Publishing. Bo* 
13321 Oaktad. Ca. 94661. ISA Re- 
□uaed in USA (San Fraadsco) 

S/17/86. 


j MARKETMQ ft SALES Matngmem. 
Swiss 50. long e epe ri e iwe n world- 
wide sake & ad nvn dfcoSoi. toduucri 
ft stopping background. Seeks chd- 
lenpng pcsMan ae erf January *86. 
Lot^ptogtk French. Enaish. Spcredi. 

wm toe amet c wTuan. ftrf*- 

efflos. CH121I Geneva 3. 


[BU5RB55 JOURKAUST, sgeedi 


er. Exc ri kn t credeneafc. 15 ymn 


WADOfNGTON GAUSHB. Dynmn- 
K, experienced, executive sales par- 
son required for sarior posrion in 
prim department of commertiri at 
gahry. Marketing experience ft un- 
ady qtx^ficntKxa in Art Hirtry & 
Ecomxma preferred- Salary negotia- 
ble. Please write with CV to * Cork 
Street; London W1X I PA 


parienoe^m banes ft ganemmeot. 


Has 


I a several Ml 
French working popars ft seeks exear- 
ton pas ri on in press/ public rriodan^ 
Pore area. Bax 2929. RnUTribrn, 
92S7I NeuBy Cedes, Frixiae 


YOUNG MGUSK MOB&CNAL 


EXECUTIVES AVAILABLE 


CHW Executive - 40 


• 40 yam dd Char- 
tered Acc oun ta nt vrim 15 yems sue- 
cwriri experi ence in the profitable 
inuxmement of Hrtech coatf 
inducing extensive overseas < . 
erx*. parhedady in USA ft Auflrofio, 


nencevrerkmgobroadetpratodidn& 

080 |A » M4l il JwUiRI MAI. II 

Athens 2117WGR. 


MAIBC superMendert eng n e er -US 
CGficence, 35ye<xx 
now. Bumr Engfirft- 
POB 80S74 frroeuyGjeace Tl 


seek s Bywtrf monogement poxtion 
» nwTronood orocnirofio 


BM 5A1E5 P9 yams) is recrioble 


J o rg cxtatf ionvritere 

his parlidbr nh ft hes m Ml ro tnage- 
mertf am proper ty be ufifised. Avafl- 
oWe early 1W6. tox 42149. IH.T, 63 
Long Ac e, London, WC2E 


to help madM^bm^roducts. 


Pais ' 


GENERAL 

AV 


WTLMARKEIWG 


PHOTO-ME Mn nc (PM) has 

in their irternd outfit 1 


Frenchman 41, US, Bwkb 
US ft fr-rr-m im rifl n n li n n irfi 


based m Pam and wB axrvtat 
internal outfit ' “ 



tettMting texery ft 

■rvi . __ 

Spanish, saria postfion. 

bune, 92521 Nearly 


rrioarfe. Bax 2275, Herdd Trv 
Cedar, France 


SAl£5 DREOOR, 5 ksnages, 
y«ars mufamabond sda ft marfaeu 
experience re at Jewels. P^h-Teu- 
proAicSi mckidng h«*h care. Aw 
fhor of b u siness software, free to 
change from present functions. CWy | 
opproprtate ft rewuuT 

ntents conudered. Box : 

Tribune. 92521 NeuiUy Cade*. France 


UK. Telex. s ...... 

Thames (0932230461; br 
rfan Mr. TjAOaifc Monolog Rec- 
tor, or Mr. PJX fcrridgo. Group fiiter- 
nat AuStar , . Marked private.' and 
confidential, .t . •?£- 



cHAuaesB« optostuiiiy^ 

far Good irii sm / Wreree 

No spedd exparienae racyxrad. 

" octririfyta at 

m your home rent 


countries. * 

| worldwide. ... , 

Phone Germany: (0) 6868/517. 
Tlx: 44S42 Dfe^.dr.wrib: 

D.TS, Suodalee Z- 
D6642 Mertoch 3 / FJlG^ .' 


ATTENTION EXECUTIVES 

■* "" ""inofiflo® rwtn ifN 

am. wbmamara Aon a Mrd 
of a mSBon readers world, 
widm, mot! of w hom two In 
JmstoMs and wc fcu fty. wtt 
road H. Ari telex us tPant 
633S9SI before JO aid. re- 
*et we con Wcr you 

w£hT fS^houn. The 
US. $ 9.80 or bad 


amdraterd par One. You amt 
S**5* q»fc*» " Prf tadff- 

o6te b&lag address. 


BUSINESS 

OPPORTUNITIES 


OFFSHORE* UK 
LTD COMPANIES 


Gbdtar and 


Ue of Meet, Tl 
W ends, flees 

mod other 

• Confidential advice 

• btmeriate avaUxAy 
■ Nominee sorvioes 

• Bearer shares 

• Boat mgisfa ul i um 

• Accmtang ft odowetfratioo 
. • Mdl, telephone ft telex 
Free ecphmcrfary booUet from 


saws LID 
Kami Office 

Mt fW, Dooglre, Ma af Mon 

London femenMhi* 

2-5 Old Bond &_lredM Wl 
Tri 01-493 4244, Tto 28247 5CSLDN G 


UNION 

Fidudary ft hud services I Company 
formahorB & donagfiqfion 1 kitemation- 
d tax I Baft recounts estabCshad I 
General birineK advica ft assriance I 


ML17Widereta9,Loi>cireEl 7HP 
TS 01 377 W4. The 893911 G 


YOUR ACBfT IN MOROCCO 

SOiAMASCHMAROCSA 


Writ 42, Ave Hasan Segtor 
CaKMnca 01, M oia c c a 
Crifa 272604. 273SS, 222221 
Ik 22901 


BUSINESS 

OPPORTUNITIES 


styW 


ADVANTAGE 

* IJ^Dfunfturelwood 

2 Hand toots and 

3 Cerreic gifts 

4 Mai order product: 

5 Hastic Products and molds 
5undry items 

Far wnolesrier and retailer with baa 
terns and service, don't mas this good 
oppo rtunity for your own 
Phase contort us with yo 
hen end reqw 

_ ' World po Enterprise Co, Ltd. 
P.O. Box 68-40 Taipei. Taiwan, R.OC. 


i yow spedfico- 


o«t-to l roes, Tama 
Tlfc 1 l7toNESEA 


Fa* {021 5953082 
atfcfc Mr James 


Gao 


3 PRORTABIE FAST FOOD opera- 

PS"*? Gra* umn. nri 

US526 0.000 located in buwshaftaig 
write top8 

Bm 28393, Wdodefahto, PA 19149, 
USA or aril 715 925 5X15 fade far 
Mary] ar telex 631639 PlBCQPHA 
or write to Sara Kobeos, Tudor 
Cowl, Rat 1, Walton R, Writomon- 
thata, Surrey. LAiited l6ngdom. 


OPF5HOjtf ft UK COMP ANTES- Save 
Tax. fa Wy mat, domdottop, 
•nriii i ii f rnrmntinii mleiimlii.ii^Tmi. 
bar* accounts opened, aoceurima 

aBXTafcmSffflwtfTgSispg 


SWSS FRANCS OR l R$ 10 mffion, 
l ong ta w fixed interest toon wonted 
Ccptal & seer** secured by interna- 
Bond bark + /or krae n 


111 


PW 


ir Icrpe ■ 
t Engtond 


W532 


BUSINE SS 

OPPORTUNITIES 


1RADC MTBMATIONAL far fun 
and profit, reap, seB ar buy reything. 
For x ifo rmotioH write to: ViO.& 
Dd, P^. to 3463, Limowol, Cyprus. 


BtGOUMOM) FOR SAi£ 9.37 car- 


ats, fight yeftaw, S3. Write: Luceno, 
Sax 181, ft94W " ' 


9494 SchaciL 


BUSINESS SERVICES 


un 

BEAUTRJL PEOPLE 

UNUMITED MC 
USA I IMOB0MDE 


A complete perronri ft totsinasi service 


212-766-7793 
212-765-7794 
330 W. 56th St. N.Y.C 10019 


Service Bepresentcfaves 

_ j j • • 

■u ’rruiuwns 


Needed' 


CAUMO VS4TURE CAPfTALHTS 

and entrepreneurs. Rcpid u iw rr i mnt 
d Hukecng and m o n o g ement of 
your Bjvwtments. Market research 
and corporate S&uteuy far yw 
-fftOfitaT CHUDJS'T by Swm 
based tom af p m faa ionris Tempo- 
rary hcr-i-CTi managtamn aw- 
(rfrfc. W2 exanene put vertires. 
laotfctfl references. 

Bax 2918, Herald Triune, 

Neoay Odex, France 


COSTA RICA REPORT: Msnttoy 8 
page newrftaer On economy, oaaor- 
himties. brelong, red mtate. tom, 
«denee, more. Sarrete Ul RE- 
Pm J. B« m 1000 Sen 
Jose, Costa 


W*5T WVBTMBir NEWSUTTB. 
Awadrefaming to! Howy Sdiite la- 
ta m * 22nd ytw. fi» far trid 
tefaTOto. FBCPX3. Box 381. CH. 
1001 toutoitee, Switreriand. 


DHAWAHt PANAMA, LUna Cor- 


frmySS15D. PhonmgSZg 


^ 2024Q. Tekx* 628352 

G. (via mg. 


$US 20 MIUJOH teaxed lean need- 
ed Phone: Mumeh 64 47 50. 


YOUR MAN M BJtOPE. TrusKror- 
ftiy, mdli fingud . cangenial. EngEdv 
man with crx As rts , arakadng know- 
how 6 Iff don prjfessood office m 
central Ptxaoxi help set up, p m r uute 
or co ordnrte your busateshere. Top 
qedertto k OUAZOR, 252 Bd. St 
Geraan fare 7 or Td; 45 48 54 43. 


DOU YOU WANT TO BUY or sel 
predxld We eon rearerer* your in- 
terest in Ihe Benelux, holy, Spain and 
SwReeriond. Contact uCpjC Kamn- 


ginnegrachr 3ft 2514 AD Ihe Ha»-. 
/Hofland. Tet 70/614751. Tfau 3330 


BHHANL 


HOW TO OB A 2ad PASSPORT, 
12 coretnas ondyzed. De- 
nt Terrace, 
Kona 


report • 12 coretnas ondy: 
tt5s> WMA, 45 lyrefiMW 
Suite 562, Central, Hong Kor 


FINANCIAL 

INVESTMENTS 


| rums t spa ^g 


WORLD PATENT 
FOR A BRUON DOUAR 
VIDEO BUSINESS 

? rac ^f-*S9 ta P ortn » , V artrre or stent 
from USSUJOm ooch. 

Offer: 30% per onn um 
Write Havas 212ft MC 98000 Monoco 


cotagr ed u cate d Sudani of 
Hhtor^Ute ‘ " 
hocttflO lOfT w 

tours in Loire V dkw AreB -"October 
1986. Brehr wfah CY & photo to: -M 1 . 
ILL COUlNS. VBbneuv+soraChre 
ire/, 21140 SeraureoAincciit. -j. 


TAX AGCOUN1ANI5 to , . 
fraodi ft US ire ntm in Pcra cm fnfl 
time or parr time boms. Mritousi 2 


years- experience. Bov 2910, Herdd 
frrfxxmjgZlNeJyCadex. - 


. France 


Telex Videarapa 
Monaco Rann479 617 


932530 50 
9ft57D4.ll 


CHAUNVUR 
mil. ei "ilt - •— w— 
ddt Good natwreft 
quned. Teh Peris 45 
hours'far 


Vafidwarkper- 
40M ft cfiiving 
■ hefafuinms re- 
63 T6 34 office 


GENERAL 

POSm Of© WANTED 



OFFICE SERVICES 


HRMCH LADY 25 
fall tore Graduate, Spanish, 

CkrfA 

Bra 290ft HmU 

ly Cedex. France or fl) 42 24 74 50 


YOUR OFFICE IN PARIS 


CANADIAN HALE, 33,7riteggd, 10 
| years- refae/5 wars hold manog*- 

'iEteftarSBSBjSK 

63 Long Am, London, WC2E9JH, 


is ready whan yea need 


ray ween yea 
far ■ reup te i 


aFbeun! 


| MAN 32 S»5 POSiriON oi ftavd 

cnmpmipn ibetoaen Wgdwton. Eu- 


• FuHy functional modem offices and | 
ax ir a r ence i 


. rooms to rare by the 
hour, day, month, eta. 

• Your fame d or perm a i ent base, 

addre», el services I 




Ira ESAJS D'AFFAMS” 

91 Hi g. Se-Konorft 75008 Rene 
Tdt 4244.9075. Telex 642066 F 


ADRWRSIRAIOR/TRAVB. .Coard- 
rtaor, VOffavd with work. Write to 


WHO WANTS TO JON am restate 
rent fftrff -and.ndta J .Airarieem 
bredrfetos 6 moreingi a . week Gd 
me Mr Belfacew 43 25 38 99 fans. . 


YOURAimeoma 


Executive . Servos ft Boonea Centre I 

HW 


L iAUn— A Pi i » i4u Aerobic Inskucfor 
NYQ ndspedfion. far- farther Wor- 
mafire a* 212734924ft 


Mhtns Tower ft Stde 50ft G8-1 


Arfwns, Greece. Teh 779623ft 
214227 EXSE, Tdefnx, 7795509. 


tt- 


SECRETASIAL 
POSmONS AVAILABLE 


pitl ohkx Maims 

Telex, wetorid drib, moil forward- 
no.- Contort tell left, P.O. Bra 33, 


MHonVE ®SJ;“e»N 

rtwiM\>8 . RRMS in PABfa 




IMPETUS • ZURICH * 252.76 21. 
PHOfe/TaB/iaffAx.. 


raheft Engfesh. 
te leiifft. Write 
Virtor Hugo, 75TT 
0) 47^61 a. 


hgfidi shorted: Sbigud 


phonm 138 Auwwe 
6 Prxn, Frera. T«fa 


Printed by Yjl. Web Offset. Harlow, Essex. Registered as a newspaper at the post office. 


EMFLOSMBIE- 


SEGKETAK&C ' 
POSITIONS AVA^ABLE 


NTaNAJKWAL 
PHARMACEUnCAL 
LABORATORY . 
lOSPOROFRCE 
JNMDttrSQRSW 

V BIUNGUAL 

SECffifARY 





m 


1 few tosoWdtWM wort JW 

IwifiaEKMonSii] 

H -»4: Aideiorti Street . 

HMM||fiDIIS4 I 


BrfGUSH . 

. RUEMT in French 
Fuocbons %riiiowhra< 

- TrondoAota 

- VMond 

betraioed 
faiow op af 






.Kxmans 

fa te tfT OoraKed Sadie*. 

W Sfc.-w" ■ 


SECRETARIES AVAILABLE 


OODMAN UDY'Rfft.racdbnr praMn- 
kteoo >aek*ipadfaje nteenea t 


LH.TjB* 2»J, 
F ranfcf u rt/Mriei -it 


.15,6000 


- EDUCATIONAL 
POSOJONS AVAILABLE 


NBOOR.-far the FroncoAmerican 
IreliMta fannra Firaace. biuoKas: m- 
ptnirfra SngU rainra organibn 
edtard ocfivitiej. devalopin o PJb B 
fin^xrf LLS. derm. TetW 30 61 71 

i i - ■ 


AUTO SHIPPING 


TRANSCAR 

TW GAR SHIPPING 

sraaAusre 

(1)^ 25 64 44 



39 43 44 


22^2^1 


5188081 
93 10 45 


PARIS 

CAhteB/NCE 
fRANKFURr 
BONN / COLOGNE 
STUTTGART 
MUMCH 

8REMBHAVB4 - 
rCWYOK 
HOUSTON 
LOS ANGB£S 
MONTREAL 

AGENTS 

.taove rf to us to brk^ it to yea 


HI <3063 
695 7061 


931 7605 
568 9288 
666 6681 


AUTO CONVERSION 


The 


subconvbct 

nr (a 


Wpridvrtte American iniurer 
provid es.dl re qofad risenn* 
_ n ^fJ» on,oe » Ywr car wil 

P» graerrmenl rtondonk 

<X yow money bode metedng 
.. . eonvBiiion cost. ’ 

AUadiSSSj S® 

MIWI fronkfart/Mdn 


■BA / .DOT 

CONVBMON5 


wrvioi 


mafia” 5 * 

»*ng ody the 

jSSggk; 


MSCO ^ 
LONDON 




w.^.- _• 


- ■Slwched Limousines 
Anorared Cam 
Coadtefr Cars 
ffAft DOT 
100 Unib is Stodr 
Deed from Somes 
Worldwide Defivery. 


: #>P r 

i-WJ. u i 1 


6667 Port tome, London- W-» 


r« 



Tet 144) 1 . 6297779 ! . . 
Triex: (51) 8956022 Tree G '' 


Geroaiy • London - Smtarhed 


same! 


it a 


TRANSCO 


nc IARGR5T SHOWROOM 
AND STOCK MBMOK - 
ping a constant stock af Aon ihcn ^ . 
300 brand new core of al Euiaptat -K-: 
Jepanme ' ' ' 

Tn h 
Seed! 

Td sSfS&uSRx 1 M&t 


d far m nffi cdnr ire* uddu#irffi, - 


Mi 

♦8 

4T1 


I 


‘ - --S 

Merced**/ BMW/Pondwi. 


famdbn Met 

On Al New 1985/86 Molddi 

TbJmSI: 


5;.. 


H 

T* 

aw 


Ajta kaii Owned anrfOparatad { . . 
The Eurapamt CraXmmadwd r \ _ 


■9 

tm 

zta 

hV 

ha 


HJROEORMAX HB CARS 

Qrf) fix faee' catalog. - 

Td: OIO^H^teS^&oS^^.v 


H 

m 


HX 300 SI, 500 5L SOD SEC . ' 
jfals ItoycB same Sprit % 7^00 tew , - . . 
‘‘ii Gwriodt now Fenonr, 
new. P.CT. • Bdgium Te^r : 


308 

03/231 J9Dg 


Oft 500 S. ICW, 8ft loocW,-Yadcxfc-;.- 
J^prs. Phcxie Germany (0)68®^-. 
517, Tfat 445242 DCSD. 


Ml 


LOW COST FU' 


USA 1 WAY IS* fan 
Mtomi 29ft Atlanta 281 
SacMt 34ft CcAfarna 


tic. 868 via Qxert. Mdfou, 


. Anted™, 20-274041. Hr 



ft 




TO 1AX/SFO 
tofope return 


& 


ARTS 


ntnsTHAuLow V 

Mmch. KrahtL JCanoM and ... 

high qnfay Seondmavire Pf*^ 
wo be sold »- - 




^ aP-Ajew 

• ' 'SsBfr' 


-■*- "fs 


0160 Orfo 1, Norway Tokj^Ii 26?- ; 


PAGE 15 
FO R MORE 
.CLASSIFIEDS 




*<5* 




Gut 


Readers 

Hcralfa^Sribunc - 




i:-.. 


1 


-- fc-t 

ii . . .