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The GlobalNewgpaper 

Edited in Paris 
Printed Simoitangan^y 
“ Paris. Lowfo^Znriii,' 



WtAWROATA APPEAR ON PAGE 16 


INTERNATIONAL 




No. 31,934 


Published With Hie New York limes and Hie Washington Post 


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Egypt Sees 
Collusion by 
U.S . , Tunisia 


By Bernard Gwertzman ■ 

New York Tones Service. • 

WASHINGTON — President 
Hosm Mubarak has declared that 
be was certain that collusion by the 
Tunisian government had enabled 
the United States to intercept the 
Egyptian plane carrying the four 
hijackers of the nrpi*g ship A chilly 
Laura. 

Mr. Mubarak contended in an 
interview Sunday on UiL televi- 
r sion thatthe interception by F-14s 
from the aircraft carrier Saratoga 
was possible because, after Eg 
dan authorities asked Tunisia 


By Samuel Kao 

TheAssoamed Press " 

.ROME — Bettboo. Craxi was 
asked to form a new governmen t 
Monday, four days after he tt- 
signed as Italy’s prune minister, 
and politicians here raid they ex- 
pected Urn to try to . resonect the 
same coalition that fell apart over 
the hijacking of the cruise ship 
Adtiille Lanro. 

“I win immediately start work to 
resolve the political crisis, which 
does not lend itseff to easy solu- 
tions,” Mr. Craxi! said after Ftea- 
dent Francesco Cosaga named him 
prime minister-designate. 

Politicians said Mr. Craxi would 
try to form a -government with the 
same four parties that joined his 
Socialists in the farmer coalition — 
the Christian Democrats, Republi- 
cans, Social Democrats and Liber- 
als. He has continued to serve as 
eawsaWn- prime wwni«tw ww hi* 


i for a solution to the latest 
of many government crises in post- 
war Italy boosted prices on the Mi- 
lan Stock Exchange. Shares re- 
gained two-thirds of the 6 percent 
they lost after Mr. CraxTs resigna- 
tion Thursday. 

The success of Mr. CraxTs ef- 
forts appeared to depend largely on 
his talks with Defense Minister 
Giovanni Spadolmfs Republican 
Party, which precipitated the col- 
lapse by pulling its three ministers 
out of the cabinet fanned 26 
months ago. 

Mr. CraxTs previous government 
was the 44th in Italy since World 
War H and in another month 
would have been the longest-lived. 

Political sources said that anoth- 
er five-party coalition headed by 
Mr. Craxi would be the most realis- 



Peres Urges UN 
To Back Direct 
Talks Between 


; \ 


Israel, Jordan 


VIOLENCE IN THE PHILIPPINES — A demonstra- 
tor aimed a sfingshot at the driver of a police car during a 
dash Monday in Manila. Students and leftists joined in 


The ViOQaftJ Prau 


a march by fanners protesting the low prices they get for 
their rice. Two students were killed in dashes with 
police, and 24 other persons were reported injured. 


U.S. Businesses See a Bonanza in SDI 


chiding political potshots, techni- 
cal naysayers and arms control 
agreements. 

That campaign is gathering mo- 
mentum as each new tide of cash 


Mr. Pike’s view, although not his 
trepidation. 

A recent conference sponsored 
by the Electronic Industries Asso- 
ciation on “Exploring the Opportu- 


RT.VtENT 


N.Y. 



By Fred Hiatt 
and Rick Atkinson 

H'cattmgitm Pail Service 

WASHINGTON — Since 

tic way of ob taining » p urSumwi ni. March 1983, when President Ron- 
ty majority and fending off at- aid Reagan unveiled his dream of a 
tempts by the Communist Party to space-based defense against nude- 
permission for an EgyptAir jet to gain a foothold in the government. nnssfles, his Strategic Defense 

land in. Tunis,, the Tunisians “asked Italy’s Communist Party is the Intuitive has been embraced by 
the Americans” and “the Amen- largest in the West and the second. Amoican defense con tractors with 
cans told them, ‘Give them permis- moft powerf ul political group in praise, some private skepti- 
aoc.’” • . . the country after the Christian asm and, inevitably, open palms. 

The object was apparently to Democrats. •. . Inge the arms industry, strate- . , . , 

Jure the^ane into SS^Ihat . ;^U4o» pwtattSlwrtheRe- ^ CyeF hfid ¥PP®“ ?9.2k b &fe r - A financial analyst 

“At that time, wu to* s ^ew Criun government. The Re- St ® 81 ®? 1 Prospect lor profit ever, 

take the derision /or the intercep- publicans have set conditions that militajy-indtisteial complex, space-defense plan who works for 1 994. “By 1 988.’’ said James L Lee 

tion.” Mr Mubarak-said. mdn<t« rtiva-r r^wailmtion during as President Dwight D. Eisenhower the Federation of American Srien- of Hughes Aircraft Co., “it may be 

— ' * -- tniKs at mss and dear definition called the marriage of public and tists, said: “Once they get a oouple institutionalized” 


brings jobs, underwrites graduate nities” predicted steadily rising rev- 
studies and buQds a constituency, enues from strategic defense, 
John E Pike, an opponent of the totaling S69 billion from 1985 to 


r Were we to proceed with deployment, it 
would be the biggest thing this industry has 


A White House spokesman den 
tried Sunday that there had been 
collusion, between Tunisia and the 
United States leading up to the 
interception Oct 10. 

“There was absolutely no collu- 
sion with Tunisia,” said the spokes- 


particulady to- 
iled States and the 


of foreign 
wand the 
Middle East 

The Ibspublicans Left the govern- 
ment over its dedsiem to release 
Mohammed Abbas, a Palestinian 
whom the United States has a c- 


private defense interests, has in the of hundred rstilion dollars under For now, the program remains 
past 30 months cobbled together a their belt, this is what turns an strictly research. Next year. Con- 
miniature replica erf itself complete operation of 10 people into one grass is likely to approve about $ 2 J 


with SDI lobbyists, SDI newslet- 
ters and SDI division vice presi- 
dents. 

As the space-based system is in- 


with 500. It turns division chiefs 
into vice presidents. 

“The ultimate question is wheth- 
er this develops such a consume 


— am. - WMAAIII iuw V/WUM kMaiw l ino ov — T — -J — - — — m imu uvivn^/j vmvu u wwwiwvi 

cused of planning the OcL 7 h^ack- tended to shield the United States that it leaves the realm of seaside 
^ ing of the Italian cruise liner. An from enemy warheads, so the lobby discourse, so that by the time we 


■ -tj. =r- is absolutely no basisfor the all^a- 

' thisatlhcvcay tcro,” 

2’. \..J a?: * ' Mr. • Djerejian insisted that 
j -=^5 American tntfTKgfnm on its own 
• had ascertained that the Egyptian 

plane was dqxffting and that it 
ri J*y. ** =.*!•■ believed the pWie was headed for 
Tunis because that was the site of 


American passenger, Leon Klingh- 
offer, 69, of New York City, was 

Mr^^bas was on the^^ 
Egyptian airliner as the four hijack- 
ers what UR. Navy jets intercepted 
it Oct 10 and forced it down at a 


hopes to defend this new business 
opportunity against any threat in- 


have a new president it's loo late.” 
Many industry executives share 


billion. That is mote than the Rea- 
gan administration requested for 
all basic research finanirad by the 
National Science Foundation and 
the Department of Energy com- 
bined, but still little more than a 
blip on the defense giants’ earnings 
reports. 


Before long, however, industry 
will begin pushing to graduate 
from research to real weapons, 
many experts think. Studies and 
analyses are the fodder of “think 
tank” contractors in McLean, Vir- 
ginia, and San Diego: but for the 
aerospace giants, it is deployment 
of hardware — “bending tin," in 
industry argot — that provides tru- 
ly big money. 

And the space-defense program 
could call for bending tin cm a scale 
never before imagined, just at a 
time when industry is hungriest. 

/Jan Benasuli, a financial, ana- 
lyst, said: “Were we to proceed 
with deployment, it would be the 
biggest thing tills industry has ever 
had happen to it, by far. It would 
be the greatest thing on earth." 

Mr. Reagan’s spkch in March 
1983, introducing the idea of a de- 
fensive system “rendering these nu- 
clear weapons impotent and obso- 
lete." tantalized industry with an 
awesome technical challenge and 
the prospect of an incomparable 
honey pot. 

That led to such phenomena as a 

(Continued on Page 4, CoL 7) 


. / 

• By Michael J. Berlin 
fmemauonal Herald Tribune 

UNITED NATIONS, New 
York — Prime Minister Shimon 
Peres of Israel urged the United 
Nations on Monday to initiate di- 
rect peace talks between Israel and 
Jordan before the end of the year. 

Mr. Peres did not explicitly rale 
out participation by the Palestine 

Ronald Reagan was expected to 
notify Congress of a SI. 9-biIIion 
aims sale to Jordan. Page 6 . 

Liberation Organization, whose 
presence in peace talks has been 
demanded by King Hussein. 

He made only an oblique refer- 
ence to “PLO terrorism" while em- 
phasizing Israel's desire to talk with 
the Palestinian people if they end 
their belligerency. 

Mr. Peres called for an immedi- 
ate end to the 37-year state of war 
between Israel and Jordan and ex- 
pressed hope that King Hussein 
would reciprocate. 

In an address to die General As- 
sembly as pan of ceremonies mark- 
ing the organization's 40th anniver- 
sary, he said: “L hereby proclaim: 
the' state of war between Israel and 
Jordan should be terminated im- 
mediately. Israel declares this 
readily in the hope that King Hus- 
sein is willing to reciprocate this 
step." 

Mr. Peres departed from recent 
Israeli policy by proposing the UN 
as an “international forum" that 
would help to launch and suppon 
the peace process, thus moving 
closer to Kmg Hussein's own de- 
mand for an international confer- 
ence that would act as an “umbrel- 
la” for negotiations. 

“I invite this organization,” said 



Shimon Peres 


thcvi 


Mr. Peres, “io depart from the tired 
and timid norm and to fulfill its 
destiny by ushering the parties to 
the conflict into a new diplomatic 
initiative.” 

The object, he said, “is to reach 
peace treaties between Israel and 
the Arab states, as well as resolve 
the Palestinian issue.” 

The negotiations, said Mr. Peres, 
could be between an Israeli delega- 
tion and a Jordanian-Palesunian 
delegation, so long as the partici- 
pants “represent peace, not terror.” 

Mr. Peres’s reference to a UN 
role was equally cautious and im- 
precise. He said that the permanent 
members of the Security Council — 
the United States, Lhe Soviet 
Union, Britain, France and China 
— may be “invited to suppon the 
initiation of these negotiations." 

He stud (hat Israel took the posi- 

(Con turned on Page 4, CoL 7) 


Rival Black Factions 
Fight in South Africa 


XJ.S. Attempts to Pacify Mubarak 


;aD- 


v. V. V 


t*- 


geteadqt^^^i^ Palestine North Atlantic Treaty Orgamza- 

WMk thTSSrirCncr was . JJJJJ ^ Specud ljwoy Asks Egypt to T*ut Differences Behind Vs 9 

~ “ohn Kifnor 


.4., i l'- 





flying toward Tunisia, the Hm^an m ^ 

authorities refused it landing and trim™ Mr. Knngnaner. 
rights. But the White House KfrSga’sdeStoaskMr. 
spokesman said that this was Turn- Craxi a ^ government 

sia s own decision and that it was bad been expected after the presi- 
not based on a special arrangement jgm’a thnxdays of consultations 
wttoWjitogon. M leaders. of the five pofiicd 

- • }fr “■ parties in the former coalitiaBU^ 

- 'W. 5“^ •*“ S*®*® P““* Mr- Craxi immediately began 

f ? r interccptmg the Egyptian ^ of the mqor 

plane. But the Egyptian govern- 

V ment has also said that ways must h* ^ ^ ^ expected the 
ta b® to end m* 0 * 1 «cnmi- outline of a to 

nations. ^ ^ . emerra: by Thursday, when Mr. 

e=Tg . °ne reason for the sfiain mrela- Craxi a to go to New Yank for a 
hems was that many owns wore of western leaders to dis- 

> the Egyptian airliner left for Tun^ ^ ^ U.S.-Soviet srammt meetr 
X sia, Mr. Mubarak said that the hi- jug schedtiled for mid-November. 
.a 5 jadeershad already left Egypt PpHticiam saw the RqxdiHcan 

In the mterview Sunday, he said conditions as a face-savin* 

that attire time he swd the gunniM ^estme in response to widespnad 
had left Cairo, which was avmid- j^Se otherc^^ 


New York Times Service 

CAIRO — President Hosm Mu- 
barak of Egypt met for two hours 
Monday with the American envoy 
sent 10 mollify him over the Achflle 
Lanro affair and was told that Pres- 
ident Ronald Reagan hoped the 
two countries would “put our re- 
cent differences behind us.” 

Mr. Mubarak, who had accused 
the United States of a “stab in the 
back” in an American television 
mterview Sunday, bad no pubic 
comment after Monday’s meeting. 

The American envoy, John C. 
Whitehead, the deputy secretary of 
state, described the talks as “thor- 
ough and friendly." ■ 

After Monday’s meeting, Mr. 


meeting 

. — — Whitehead flew to Tunisia, another 

day Oct. 10. planswen: underway partners of its decision to leave the ally. It was angered by President 
to send the nijackeis somewhere government. Many said that the Reagan’s expression of approval 
e * s ?- party’s grievances could have been for the Israeli raid on the headquar- 

But when be learned at about 3 jesoived withom bringing down the ters of the Palestine Liberation Or- 
(Contiinied on Page 4, CoL 7) government. ganization headquarters there. 


He had already been to Italy, 
where the government fell after the 
Achille Lanro hijacking 

Mr. Mubarak has condemned as 
piracy the forcing down of an 
Egyptian jet canying the four ac- 
cused Palestinian hijackers of the 
ship to supposed freedom. 

The unorthodox capture of the 
hijackers an outraged public in 
Egypt 

Mr. Wbitehead said much of the 
discussion Monday was taken up 
with the floundering peace initia- 
tive that Mr. Mubarak has been 
supporting along with King Hus- 
sein of Jordan and the PLO chair- 
man, Yasser Arafat 

In a statement after the meeting 
Mr. Whitehead said that “recent 
events were in no way directed 
against Egypt or its people, for 
whom all Americans have the deep- 
est respect" 

“We very much regret that devel- 
opments took the course that they 


did,” Mr. Whitehead said. “Our 
only object was to bring to justice 
c riminals who bad hijacked a ship, 
terrorized its passengers, murdered 
an American — a crippled man in a 
wheelchair — and threatened to 
murder others." 

Mr. Whitehead’s remarks ap- 
peared to fall short of the public 

r ogy to the Egyptian people 
Mr. Mubarak has demanded. 
But, having established himself 
as a spokesman for a wounded na- 
tional pride, Mr. Mubarak has also 
been attempting 10 lower emotions 
in attempt to keep them from turn- 
ing against him. 

G early, Mr. Mubarak's govern- 
ment is aware of this danger. Riot 
police have been deployed in force 
around the universities and, at mid- 



John C Whitehead, after 
meeting Monday with Pres- 
ident Mubarak of Egypt 


to release the lext of the message 
President Reagan had delivered to 
Mr. Mubarak, but Mr. Whitehead 
said the letter “expressed his con- 
day Friday, there were prayers at timiing commitment to close U.S.- 
the main al-Azbar mosque aimed at Egyptian relations and his hope 
preventing demonstrations. that we could now put our recent 

The American Embassy declined differences behind us.” 


By Tom Baldwin 

The Associated Press 

JOHANNESBURG — Rival 
black factions battled with clubs 
and spears outside Johannesburg 
on Monday afternoon, and there 
were unconfirmed reports by resi- 
dents that at least three persons 
had been burned alive. 

The fighting is between black 
groups divided by tribal loyalties 
and over how to confront apart- 
heid. 

The violence followed four 
deaths Sunday in the Cape region 
that occurred after the funerals of 
persons killed in recent unrest 
there. 

“The place is chaos," said a wit- 
ness in the Meadow lands district of 
Soweto, the black township south- 
west of Johannesburg where Mon- 
day’s fighting occurred. 

Io Pietermaritzburg, in Natal 
province, the treason trial of 16 
anti -apartheid activists reopened 
Monday after a month's postpone- 
ment. All the defendants, including 
Albertina Sisulu, 66 , a veteran anti- 
apartheid campaigner, pleaded not 
guilty. 

The 16 activists are members of 
the United Democratic From, the 
main multiracial organization op- 
posed to apartheid. South Africa's 
system of racial separation. 

Prosecutors have not made pub- 
lic the specific allegations against 
the defendants, who are mixed- 
race, Asian and black. 

Diplomats from the United 
Stales and other Western countries 
were in the courtroom as observers. 


- 

■ ‘ Urn-- 



Salvadoran Rebels 
Admit Kidnapping 
% Duarte’s Daughter 

Washington Part Ser*iec -- 

SAN SALVADOR —The Sal- 
vadoran guerrilla command as- 
sumed responsfirih ty Monday for 
the kidnaping of President lost 
N apolerin Duarte’s daughter. 

The rebels’ acknowled g ement 
came on their official Radio Ven- 
ceremos. Previous statements from 
the Farabundo Marti National 
Liberation Front had emphasized 
the political advantages of the kid- 
napping without dearly accepting 
responsibility farit; 

The radio referred repeatedly to 
In&s Guaddupe Duarte Dur&n as a 
“functionary,” alluding to her role 
as publicity director in- her father’s 
election campaign last year and her 
fflflnagMTtfmt of a San'Salvador ra- 
dio station, sympathetic- to. his 

Christum Democratic goyenunent 
. The arw^Mnyynrien t came as Ro- 
man Catholic Church intermediar- 
ies 'tried to shore up a deal for her 
release -in exchange, for 22 -rdbd 
prisoners hdd by the government- ; 



INSIDE 


Jolm D. EIBott of Oilers 
IXL of Australia an- 
nounced bis company's 
£lJR-biffioa offer for AK 
tied-Lyons PL C Page 9. 


■ Greece's prime minister re- 

mained in Athens 10 defend his 
economic policies. Page! 

■ President Ortega said the 

Nicaraguan Army would defeat 
anti-government rebels in the 
next few months. Paged. 

■ A federal absentee ballot is 

under study for use by Ameri- 
cans abroad. Page 5. 

■ Refugees and the alleged use 

of . mercenaries in Burma cauwt 
concent in Thailand. Page 6. 


BUSINESS/FINANCE 

■ Management of RJL Macy, 
thebigU.S. retailer, proposed a 
S3 J8 billion buyout. Page 9. 

■ The West German economy 
will grow at only a 3-percent 
rate m 1986, five leading re- 
search institutes said. Page 9 . 


Jean Biboud, Head of Schlumberger 
For 20 Years, Is Dead at 65 in Paris 


The Assoaoied Press 

NEW YORK — Jean Riboud, 
65, the former chairman of Schlum- 
berger Ltd. and one of the world’s 
most highly regarded corporate ex- 
ecutives, died Sunday in Paris after 
suffering from cancer for more 
than a year,' the company an- 
nounced Monday. 

Mr. Ribcud stepped down as 
chairman of Schlumberger on SepL 
11 , after his condition worsened. 
He had been chief executive of the 
company for more than 20 years 
and was responsible for blinding it 
into the. world's leading oil field 
services business. 

He had r emain ed with the com- 
pany as a director, a member of the 
executive committee and chairman 
of the finance committee. 

Mr. Riboud was a dose friend of 
Prasideat Francois Mitterrand of 
France, whom- he served as an un- 
official economic adviser since the 
Socialist leader was elected presi- 


dent in 1981. There was frequent 
speculation that he would become 
a member of the cabinet. 

Schlumberger often was praised 
as being one of the best-managed 
businesses in the world, notably in 
a two-part article in The New' 
Yorker magazine in 1983 by Ken 
Aulena. 

The New Yak Times, in a pro- 
file of Mr. Riboud on the occasion 

of his departure as chairman, said 
that be was regarded in the finan- 
cial world with a degree of rever- 
ence. 

“He’s a legendary man,” Edward 
P. Reilly, an analyst with Fahnes- 
tods & Co. was quoted as saying. 
Mr. Ribovcf s success lay in attract- 
ing top managers, plus other per- 
sonnel, he said. 

Even competitors expressed ad- 
miration. “They’re an excellent 
company -and a good competitor, 
and we’re sorry to see him go." said 
Marvin Gearhart, chief executive 


of Gearhart Industries, me of 
Schlumberger’ s main competitors. 

Under Mr. Riboud, Schlum- 
berger diversified from its original 
business of testing for oil, acquiring 
holdings in dec ironic instruments, 
semiconductors and computer-aid- 
ed design systems. 

The company thrived under his 
leadership, often posting annual 
earnings gains of more than 35 per- 
cent until the 1981-82 recession. 

Mr. Riboud was a lieutenant in 
the French Army in the early pan 
trf World War II. He later joined 
the Resistance, was taken prisoner 
and survived two years ax Bucben- 
wald before he was released by U^. 
forces in May 1945. 

He joined Schlumberger in May 
1951 as an assistant to Marcel 
Schlumberger, a co-founder of the 
group. He was named president 
and chief executive in May 1965 
and became chairman of the board 
in March 1972. 



Jean Riboud 


along with a representative of the 
American Bar Association. 

A conviction of high treason can 
bring the death sentence. 

Since Thursday, fighting has 
flared in the Meadowlands district 
of Soweto between black groups 
divided by tribal loyalties and over 
how to confront apartheid. 

The sides are drawn between Zu- 

The Commonwealth persuaded 
Britain to accept some sanctions 
on South Africa. Page 4. 

lus who live in a men's hostd and 
who are temporary residents of the 
area, and Meadowlands residents 
who live permanently in the town- 
ship. 

The Zulus, witnesses said, pledge 
loyalty to Gatsha Buthelezi. the he- 
reditary chief, who is considered a 
moderate by many whites. The 
Meadowlands residents are sup- 
porters of the United Democratic 
Front, which calls Chief Buthelezi a 
collaborator with Lhe apartheid 
system, though he regularly speaks 
out against white rule. 

Residents said the fighting broke 
out Thursday when supporters of 
the United Democratic Front 
staged a rally near the Mzimhlope 
Hostel. The rally angered the Zulu 
migrant workers there. Bands of 
Zulus roamed the Meadowlands 
streets over the weekend, attacking 
residents and smashing their 
houses, residents said. 

The area was quiet Monday 
morning but battles erupted at 
midday, residents said. The)’ said 
the police and army fired tear gas at 
the combatants, who scattered only 
to regroup and continue fighting 
one another. 

Meanwhile, a group of black 
youngsters surrounded and set fire 
to a government office building, 
lhe Zondi Council offices, where 
white-run black councils manage 
Soweto's affairs, wi messes said. 

Most blacks see township coun- 
cils as tools of the whites, and 
council buildings are regularly at- 
tacked. There were no casualties, 
the witnesses said. 

In Cape Town, fires believed set 
by arsonists trying to carry violence 
into white areas damaged two 
parked cars after a night of scat- 
tered blazes around the country, 
witnesses and police said. 

Both burned cars had been 
parked in Cape Town’s Malay 
Quarter, which is a popular parking 
area for white commuters to lhe 
city's office towers a few blocks 
away. 

Residents said 18 other vehicles 
had been vandalized, apparently by 
black and mixed-race youngsters. 

Police moved in with armored 
personnel .carriers, creating a stir 
among Cape Town's whites who 
had rarely seen riot police on duty 
in the middle of a largely white 
district. 




•age 2 


UNTERJNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 


Papandreou Skips UN Fete, Stays Home to Defend Austerity Plan WORLD BRIEFS 


By Henry Kamm 
Nw York Times Service 
ATHENS — Prime Minister An- 
dreas Papandreou will spend this 
week here defending his austerity 
program, a subject of political and 

labor unrest, rather than in New 
York celebrating the 40th anniver- 
sary of the United Nations. 

Mr. Papandreou called off his 
visit on Oct- 12. a day after he 
announced the package of econom- 
ic moves intended to curtail rapidly 
rising foreign indebtedness. The 
drachma was devalued by IS per- 
cent, wage increases severely limit- 
ed, imports curbed and new taxes 
imposed. 

The deficit in Greece's accounts 
topped 52 billion by the end of 
July, dashing government hopes of 
keeping it at dial ceiling for all of 
1985. Estimates of Greece’s total 
foreign debt range from S 15 billion 
to more than S20 billion. 

The measures, particularly the 
virtual freeze on automatic "wage 
increases linked to the cost of liv- 
ing, provoked the most serious dis- 
sension in the governing Socialist 
Phny since it came to power in 
1981. 

Eight union leaders who dis- 
agreed with the measures were ex- 
pelled from the party last week. 
Three bad been members of the 
central committee. 

They joined leaders of uoions 
affiliated with Greece's two Com- 
munist parties in calling for 2 series 
of 24-hour genera] stnies begin- 
ning Monday. 

The prime minister's cancella- 
tion of his trip to the United States, 
where he lived for two decades, 
comes at a time when Greek-Amer- 
ican relations, at low ebb since he 
came Lo power, are improving. 

Greek and .American officials re- 
ject the view that Mr. Papandreou 
is staying home because he was not 
invited To a private meeting with 
President Ronald Reagan. 

Although he wants such a meet- 
ing, largely to enhance Greece’s 



Greek workers on a 24-hour strike gathered Monday in Athens to protest die austerity program of Prime Minister Andreas Papandreou, right 


standing in international Financial 
circles, Mr. Papandreou is unlikely 
to be invited to the White House 
until he lifts his threat to shut down 
.American military bases in 1988. 

The United States is pressing for 
assurances that the bases will re- 
main open before proceeding with 
modernization work. The prime 
minister believes that small coun- 
tries can cope with major powers 
only by keeping them guessing. 

However, after years of telling 
his party and the public that the 
bases would be closed in 1988, Mr. 
Papandreou told the party's central 


Papandreou 's new pragmatism, he 
dropped from bis party's ruling ex- 
ecutive eight of its 11 members, 
including those known to have agi- 
tated for more Socialist policies at 
home and a sharper turn away from 
the West in foreign policy. 

They were replaced with men 
known largely for submissiveness 
to Mr. Papandreou's views. 

Greece has also taken steps to try 
to soothe .American concern about 
two security issues. 

It has made significant improve- 
ments in its anti-terrorist posture 
because of a UJ>. warning to Amer- 


committee last month that those icons against a high risk of terror- 
who believed that Greece could ism at Athens airport after the hi- 
“here and now” eject the bases and jacking of a Trans World Airlines 
withdraw from the North Atlantic plane in June. 

Treaty Organization and the Euro- — — — ■ — 

pean Community had “their heads 
in the clouds.” 

The prime minis ter had been re- 
treating gradually from his 1981 
pledges to withdraw from the alli- 
ance and the EC. 

Four days later, in a further indi- 
cation of what is seen here as Mr. 


The Papandreou government 
viewed the travel warning, which 
some officials estimate may have 
cost Greece as much as $300 mil- 
lion is lost tourist revenue, as pun- 
ishment for the prime minister's 
occasional anti-American out- 
bursts. At the same time, it consid- 
ers the lifting of the advisory as a 
turning point, giving rise to the 
present cautious optimism on both 
sides. 

American and international au- 
thorities now consider Athens secu- 
rity on a par with that of other 
Western airports. 

In Lbe Odd of security against 
espionage, Greece was reliably re- 
ported to have acted on informa- 
tion from the Central Intelligence 


named by 

Sergei Bokhan, a senior official of 
Soviet military intelligence sta- 
tioned here until be defected to the 
United States in May. 


■ General Strike m Athens 
Greek workers ranging from 
doctors to taxi drivers joined in a 
24-hour general strike Monday to 
protest government austerity mea- 
sures. United Press International 
reported from Athens. 

Olympic Airways canceled all in- 


EC Ministers Open Session on Charter 

LUXEMBOURG (Reuters) — Foreign nrims tere of thcEnropcaq 


larter hrfore the entry or apam auu -■ 

Diplomats said the meeting started with discussons oahow to treat 
other Mediterranean countries after the community is adaig cd.to 12 . The 
LsSfordgn minister. Yitzhak Shamir, was expected to tefl .’“gSwson 

Tuesday about his country's to tha t 

have a serious effect on Israeli exports of fruits and vegetables. 

Other southern Mediterranean nan ow — imJudmg Morocca Egypt 
and Cyprus — whose exports to the EC account for 30 percent to 60 
percent of their farm trade, are concerned over the community's apparent 
inability 10 agree on how to handle toor products as enlargement of tbe 
community approaches. 

Nobel Winner Tells U.S. to Cut Deficit 

WASHINGTON (AP) — This year's winner of the Nobel Memorial 
Prize in Econ omic Soence. Franco Modigliani, told a congressional panel 
Monday that U.S. government deficits should be cut immediately. 
Further, he said, members of Congress should not rdy on what he called a 
“Mickey Mouse” balanced-budget plan now before a House-Senate 
conference committee. 

He said that Congress should not be afraid to raise taxesm the interest 
of trimming the deficit. 

fessor at the Massachusetts Institute of Technoi- 



msidious kind of damage" that does not appear suddenly. Instead, he 
said, the economy “will get worse and worse as you move on” unless the 
deficits are cured. 


Apparently as a result, American 
hetitation atom proceeding with a 
$1 -billion sale of 40 F-16 jet fight- 

ers seems on the way to being over- temational and domestic flights Kohl to K pagail, I Whftr I PanPlS 

come, and the sale m3y be conclud- d urine the strike Deriod. Q 

ed before the end of the year. 

Both governments appear hope- 
ful that a three-day visit at the end 
of this month by Michael H. Anna- 
cost, U.S. undersecretary of state 
for political affairs, wiQ significant- 
ly advance what the Papandreou 
government is privately calling the 
rapprochement. 


during the strike period. 

Organized by a coalition of trade 
unions and business groups, the 
strike bit Athens, Salonika and 23 
other major cities and towns. 

The strike wait ahead without 
the support of the government-con- 
trolled Federation of Labor, winch 
pressed instead for negotiations 
with tbe government 


Leftist Hero of Portugal’s Revolution 
Admits Planning Secret Rebel Army 


Chilled 

Uro PE PE 

£The natural aperitif. 

Very Dry Sherry 


Renters 

LISBON — A hero of Portugal's 
1974 revolution who is accused of 
forming a leftist guerrilla group 
said Monday that he had drawn up 
plans for a revolutionary army but 
that it had never become a reality. 

Lieutenant Colonel Otelo Sar- 
aiva de Carvalho is charged with 
founding and leading a guerrilla 
group called FP-25. On tnal with 
him are 71 people accused of be- 
longing to it 

FP-25 has been blamed for kill- 
ings. bombing and bank robberies 
since 1980. FP-25 stands for Popu- 
lar Forces of April 25. the date of 
the 1974 revolt that overthrew 
nearly 50 years of rightist dictator- 
ship. 

The prosecution bases the 
charges on documents it said were 
seized from Colonel Otelo when he 
was arrested in June 1984. 


Colonel Otelo, 49, told the court 
he drew a revolutionary political 
project in 1978 that included a legal 
political party and a plan for a 
secret civilian army. 

This army, he said, “would one 
day, if there were reasons for it 
have had tbe historic duty to 
launch an armed rising that would 
bring the workers to power." 

Wearing civilian clothes, a crew 
cut and a red carnation, symbol of- 
the 1974 revolution. Colonel Otelo- 
said he conceived his political pro- 
ject in the late 1970s in response to 
“worrying signs of a fascist come- 
back.” 

He said that in two handwritten 
notebooks seized at his home by 
the police, which gave details of his 
political project there was no men- 
tion of FP-25 or actions claimed by 
iL ) 

He said he founded a political i 


party, the Popular Unity Force, or 
FUP, which had no links with 
FP-25. The prosecution alleges that 
the party was FP-25's political 
wing. 

A written defense already pre- 
sented to the court said the possible 
need for armed action was justified 
by Colonel Otdo’s fear that a wors- 
ening social, economic and politi- 
cal crisis might lead rightist ex- 
tremists to attempt to take over the 
state. 

The trial resumed OcL 7. It was 
adjourned immediately after it be- 
gan July 22 because FP-25 shot 
dead a key prosecution witness a 
few days earlier. 



BONN (AP) — Chancellor Hel- 
mut Kohl will have three me e tings 
with President Ronald Reagan and 
talks with the leaders of China, 
India and Israel when he visits New 
York this week, a West German 
government spokesman said Mon- 
day. 

Mr. Kohl, who is to leave for 
New York on Tuesday, win take 
part in die allied meeting expected 
to center on Mr. Reagan's summit 
meeting with the Soviet leader, 
Mikhail S. Gorbachev, in Geneva 
next month, the spokesman said. 
The government leaders are all go- 
ing to New York this week to marie 
the 40th anniversary of the United 
Nations. 

In a private meeting with Mr. 
Reagan. Mr. Kohl is to discuss pos- 
sible West Ge rman participation in 
the research for the space-based 
missile defense system proposed by 
the United States, according to for- 
eign ministry sources. 





Helmut Kohl 


Otelo Sararva de Carvalho 



British Miners Decide 
To Form a Rival Union 


Reuters 

LONDON — Workers in Brit- 
ain's second biggest coalfield and a 
small neighboring area have voted 
to set up a rival union. 

Ninety percent of Nottingham- 
shire's 27,000 miners voted by a 


Tainted Cheeses 
Found in Austria 

The Associated Press 

VIENNA — Some domestic 
cheeses have been pulled off the 
shelves in Austria because they 
contained diethylene glycol, the 
same potentially toxic substance 
used to doctor hundreds of brands 
of Austrian wine, the Health Minis- 
try said Monday. 

The ministry said the chemical 
apparently was transferred to the 
cheese from its clear plastic pack- 
aging. It makes th.e wrap pliable. 
The chemical, a component of 
some antifreeze, can damage tbe 
nervous system. Lhe kidneys and 
the liver, health officials said. 

Tbe cheeses were removed last 
week, officials said. Millions of gal- 
lons of Austrian wine were im- 
pounded in Austria and abroad 
this summer because they were ille- 
gally adulterated with dj ethylene 
glycol for sweetness. Some fruit 
juices later also were found to con- 
tain the chemical in potentially 
hazardous amounts. 


China Reported to T est Cruise Missile 

BEIJING (Reuters) — China has successfully launched a cruise missile 
from a land-based site, the first such xnissQe that China is believed to have 
tested. East European diplomats said Monday. , 

The diplomats said they understood that the missile, which landed in 
the East China Sea about 190 miles (300 Irilometers) southeast of ' 
Shanghai, was a surface-to-surface missile for use fay submarines. 

They did not say where the misale was fired from or what its range was. 

Bat they said that most of its path was over laud to facilitate electronic 
checks ou the flight. 

Seoul Newspaper Says Boat Exploded 

SEOUL (AP) — ANorth Korean boat sunk by the South Korean Navy 
after allegedly trying to approach shore may lave been carrying explo- 
sives and blew up during an exchange of gunfire, a Seoul newspaper 
reported Monday 

■ The report said the vessel “exploded with 10-meter-high [11-yard] 
fireballs.” It was not knownhow many crewmembers were aboard. South 
Korean officials said there were no survivors. 

South Korea had contended that the vessel was spotted early Sunday 
trying to approach shore near the port of Pusan, 220jnfles (360 kilome- 
ters) south of Seoul The Defease Ministry said (he ship had fired at 
South Korean Navy vessels that ordered it to haltTbe ship, the ministry 
added, was sunk after a three-hour chase by naval units supported by air 
force planes. 

Paraguayan Duel Stopped by Police 

ASUNCION, Paraguay (Reuters) — The police intervened to prevent * 
a dud between President Alfredo Stroessner’s former son-in-law and a 
member of the national legislature, witnesses said 
Hundreds of people gathered Saturday at a park in tbe capital where 
Humberto Dominguez Dibb, the former husband of General Stroessnert 
daughter, had challenged Oscar Zacarias Cubfllas to meet him 
About 50 policemen dispersed the crowds and told the duelists to leave 
before they could come face to face. Mr. Dibb, who owns the newspaper 
Hey, published his challenge on the front page of the paper. Mr. Zacarias 
had said that Mr. Dibb gained wealth and power because his children 
were the presidents favorite grandchildren. 

For the Record 

Iraq said its aircraft launched a raid Monday on Iran’s Kharg Island oil 
terming .after a weekend lull and returned safely to base. It was the 29th 
raid against Knarg since mid-August. 

At least 15 people were killed Monday when a bus burst into flames 
tfter an 1 1 vehicle pile-up on a highway south of Lancaster in northwest 
England. toepohg said- (Reuters) 

a highway bridge Monday and crashed onto a 


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The flavour 
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malt 



majority of almost 3-to-l to form 
the Union of Democratic 
Mineworkers, according to results 
announced over the weekend. 

In South Derbyshire, rebel min- 
ers won a narrow majority. There 
were 1.286 votes in favor of cutting 
l i nks with the National Union of 
Mineworkers. while 1,260 miners 
opposed abandoning the nation- 
wide union. 

The vote was the most serious 
blow to the unity of British miners 
since a majority of Nottingham- 
shire coal workers formed a Break- 
away union after the 1926 general 
strike. 

Arthur Sccirgill. president of the 
National Union of Mineworkers, 
urged tbe Trades Union Congress, 
umbrella group of Britain’s labor 
movement, to shun toe rebel union. 

Mr. Scargill had cam p ai g ned to 
stop a split within his union since a 
yearlong coal strike against pit clo- 
sures was defeated in March. 

“I call on all miners to stay with- 
in one national union," Mr. Scargill 
said. “It is the one way we can 
prevent pit closures and job 
losses." 

The state-run National Coal 

mg pay deals with disgruntled min - • (Urii 

ers, welcomed toe formation of toe 
new faction. 

Ian MacGregor, chair man of toe 
board, said he looked forward to 
meeting toe new union’s leaders to 
discuss toe future of coal. 

Roy Lynk, one of the leaders of 
toe Nottinghamshire miners, de- 
scribed toe result as a victory for 
democracy. “In a short space of 
tune we will be the new national 
union of mineworkers, based on 
democratic principles," he said. 

He said the breakaway union 
was confident of receiving wide- 
spread support from other disillu- 
sioned miners. 

A majority of miners in Notting- 
hamshire; where modernized pits 
were relatively unaffected by plans 
to dose money-losing mines, did 
not support the strike. 


Warsaw Pact Leaders Arrive- 
In Sofia for Summit Talks 

Mihail s. Gorbachev, and leaders nuclear weanon*. ^ • 

of toe six other Warsaw Pact na- T * ^ . . 

irons arrived here Monday for a soviet Foreign Ministry 
summit conference, toe official Vladimir Lomeiko, in 

Bulgarian news aeenev BTA m- a - te J e '? aon interview in Moscow, 
ported. 7 angled out nuclear arms reduc- 

Tbe session, formally a meeting a ten on space weapons and 

of the pact’s Political Consultative 8 ^ enen “ of ddiente as 

Committee, was expected to en- 1113111 topics for the summit, 
dorse Soviet arms control propos- “These central issues, which we 1 , 
als m advance of Mr. Gorbachev's weigh heavily on mankind , :.T 

scheduled meeting next month in to be resolved, and toe Politi- • 
Geneva with President . Ronald ^ Consultative Committee, which 
Rragan of the United States. stands for the wisdom and experi- 
Io Moscow, theTass news agen- ® ncc °f socialist countries, will. 
cy«ud that Mr. Gorbachev was doubtiesdy greatly contribute to 


Mitterrand Returns to Paris 

Agence Franee-Prase 

PARIS — President Fran _ 

Mitterrand of France returned to £ L Ryzhkov, Foreign “ efl£0 according toa transla 

Paris on Monday from Colombia Minister Eduard A. Shevardnadze, tom by BTA. 
after a week of official visits there Tvten " k Xjn " : ‘ — • — * 
and in BraziL Officials said that his 

discussions had centered largely on PMiy MCirtmy, and Boris I. Aris- said prirotdy toat 6 ^ 
the Third World’s debt problems. appointed minister the session to 

fenced-off 


to Sofia, by President i ^ elaboration of the ways to toe 
ancois , “SAr Prime-Minis- resolution of these issues," Mr. Lo- 

lea to ** Ryzhkov, Foreign said, according to a transla- 

* -wv^ombia Minuter Eduard A. Shevardnadze, tom by BTA. 
after a week of official visits there Minister Sergei L. Soko- No schedule for toe meetimr was 

said that his Konstantin V. Rnakov^ .toe puWishakbut Bulgar^SS 

* ^ " 4 ' ■ that they expected 

Tuesday. The 

Viktor- 



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cm« or me Warsaw Pact armed . of the Waranu 
lorces, also had arrived in tbo Bul- 
garian capital.. . • - 

_ k® regular session of the 
Political Consultative Committee, 
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toe Warsaw ftet countries: 

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was in Prague m 1 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 




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Page 3 


llll* iliuir I lllllli II II I1> I II in IIMIHl I « |M M, (',GK 


>a ge 4 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 


Commonwealth Gets U.K. to Accept 
Limited Sanctions on South Africa 


The Associated Press 

NASSAU, Bahamas — The 49 
nations of the Commonwealth have 
persuaded Britain to accept limited 
economic sanctions a gains t South 
Africa and threatened to impose 
tnore unless the white-minority 
government in Pretoria dismantles 
apartheid. 

Members of the Commonwealth, 
consisting of Britain and its former 
colonies, averted an open split in a 
last-minute compromise Sunday. 
They also agreed to send high-level 


emissaries to South Africa to press 
the government to free imprisoned 
black leaders, end the policy of 
racial segregation and negotiate a 
“nonraciai, representative govern- 
ment” 

Prime Minister Margaret 
Thatcher of Britain, who fought a 
lone battle to stop the Common- 
wealth from imposing economic 
sanctions, made three concessions 
but claimed victory. 

The agreement calls for a review 
of South Africa's progress toward 


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ending apartheid after six months, 
with possible additional economic 
measures to follow. But Mrs. 
Thatcher said she would have no 

part of tougher sanctions after the 
six-month deadline. 

“Well, they’ve joined me now." 
Mrs. Thatcher said late Sunday af- 
ter Commonwealth leaders met 
through the day to work out the 
agreement. 

The accord provided for a series 
of immediate sanctions. Most of 
the measures, such os bans on arms 
.and oil sales, nuclear cooperation 
and discouraging cultural and sci- 
entific contact, nave been enforced 
by many nations for years. 

Mrs. Thatcher agreed to three 
new measures — a possible ban on 
the import of Krugerrand gold 
coins, and bans on new govern- 
ment loans to the South African 
government and its agencies as well 
as on state funding for trade mis- 
sions. 

The accord called on South Afri- 
ca to immediately release Nelson 
Mandela, the imprisoned leader of 
the main Mack guerrilla movement, 
the African National Congress. 

It also called for the “suspension 
of violence on all sides” during ne- 
gotiations between black and white 
South African leaders, the lifting of 
a ban on the African National Con- 
gress and the immediate end of a 
three-month state of emergency 
imposed in an attempt to queU 
street violence. 

Mrs. Thatcher, along with the 
leaders of Zambia, Australia, the 
Bahamas, Canada , India and Zim- 
babwe, are to decide after six 
months whether South Africa has 
made progress toward meeting the 



Ortega Predicts Victory 
Over Insurgents Soon 


Margaret Thatcher 


demands or whether more sanc- 
tions should be imposed. 

The accord hedged, saying that 
“some of us would consider" righ t 
further measures. These included a 
ban on air links with South Africa, 
any new investment or rein vest- 
ment of profits, agricultural prod- 
ucts and tourism promotion, and 
an end to reciprocal taxation agree- 
ments. 

“You would be right to conclude 
that I am not one of the ‘some,’ ” 
Mrs. Thatcher said. 


Aftershock Strikes N.Y. Area 

The Associated Press 

NEW YORK — A mild after- 
shock measuring 3 3 on the open- 
ended Richter scale jolted people 
awake Monday from Connecticut 
to northern New Jersey, two days 
after a minor earthquake measur- 
ing 4.0 struck the same area. 


By Larry Rohcer 

New York Times Service 

NEW YORK — President Dan- 
iel Onega Saavedra of Nicaragua 
has asserted that the military situa- 
tion in his country has swung 
sharply m favor of the Sandinist 
army. 

He predicted in an interview 
Sunday that Sandinist forces would 
decisively defeat anti-government 
rebels “in the next few months." • 

Mr. Ortega also said that the 
imminence of a “strategic victory” 
over the U.S.-supported guerrillas 
had been behind his announcement 
of the suspension of cavil liberties 
in Nicaragua last week. Such steps 
were necessary, he said, to deny the 
anti-government. guerrillas a 
chance to regroup when they were 
“on the verge" of being eliminated. 

[On Monday. Mr. Ortega said in 
an address to the United Nations 
General Assembly that Nicaragua 
“will suspend the state of emergen- 
cy we have been forced to impose" 
due to the aggression of theUnited 
States “as of the very moment 
when the aggressions effectively 
cease,” The Associated Press re- 
ported.] 

Under the measures announced 
Ocl 13, legal guarantees of free- 
dom of assembly and travel, habeas 
corpus, the right to strike, the pri- 
vacy of mail, and freedom of the 
press were suspended. Those rights 
had first been suspended in 1982, 
but were restored shortly before 
national elections in November 
1984. 

Mr. Ortega's remarks in the in- 
terview came as a striking change 
of lone for the Nicaraguan leader, 
who in the past has offered consis- 


tently grim assessments of the in- 
ternational and domestic chal- 
lenges faced by the Nicaraguan 
revolutionary government 

But in an hourlong review of 
Nicaragua’s military, political and 
economic situation. Mr. Onega 
demonstrated a confidence and op- 
timism that he attributed to im- 
provements in the Popular Sandin- 
ist Army’s position “compared to a 
few months ago.” 

“We’ve got them beat, got them 
defeated, demoralized and disjoint- 
ed," he said of the guerrilla forces. 
“Bat we have to m aintain the of- 
fensive in order to guarantee their 
strategic defeat. We can't let them 
come up for air." 

That evaluation differs substan- 
tially from views expressed recently 
by leaders of the main armed rebel 
group, the Nicaraguan Democratic 
Force. They have pointed to wid- 
ened operations, an influx of re- 
cruits and substantial new arms 
shipments as signs of strength and 
have predicted heavy righting dur- 
ing the coming diy season. 

. Mr. Ortega also seemed to dis- 
count the impact of U.S. help to the 
guerriUa forces, both the $27 mO- 
uon in “noniethal” logistical aid 
that is already in the pipeline and 
any overt military assistance that 
could be approved in the future. 

He said that the Sandinist army 
was strong enough to win on the 
field of battle regardless of what 
Washington does. 

■ Overture to Reagan 

In his speech at the United Na- 
tions on Monday. Mr. Ortega said 
that President Ronald Reagan 
should announce that the United 
States is willing to normalize rela- 





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President Daniel Ortega Saavedra of Nicaragua, followed 
by a security guard, running in New York’s Central Park. 


tioos with Nicaragua. The AP re- 
ported. 

“Nicaragua is no enemy oF the 
United States," he said. “There is 
■no reason for the United States to 
consider Nicaragua as such. Noth- 
ing in our revolutionary project is 
incompatible with normal and 


friendly relations with tbe Uifited 
States." 

Mr. Ortega. 39, wore a business 
suit for his address. Last year, he 
addressed the assembly in a mili- 
tary uniform and predicted that the 
United Slates would invade his 
country within a month. 


Peres Proposes UN os Forum 
For Talks on Mideast Peace 


Friendliness can be charm. 


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V' Vv. • r-: -*■'/;•» . 

m 



(Continued from Page I) 
tion, however, that “those who con- 
fine their diplomatic relations to 
one side of the conflict," a refer- 
ence to Moscow and Beijing, “ex- 
clude themselves from such a role.” 

Mr. Peres indicated that an agen- 
da for negotiations could go be- 
yond Security Council resolutions 
242 and 338, which outline a frame- 
work for a Middle East settlement 
and include implicit recognition of 
Israel’s right to exist. 

He urged that the process be ex- 
pedited by discussions within 30 
days among “small working teams" 
to determine the agenda, the proce- 
dures and the nature of interna- 
tional support 

The Jordanian mission was not 
immediately available for com- 
ment. Jordanian representatives 
walked out of the assembly cham- 
ber along with ail other Arab dele- 
gations except for Egypt when Mr. 
Feres began to speak. 


The Egyptian representative. 
Ahmed Tawfik Khalil, called the 
Peres speech' “a good' start" He 
suggested that Israel was “Hying 
not to slam doors, seeking to keep 
the momentum going, as we all 
are." 

Mr. Khalil said that the speech 
“is worth asking questions about" 
and represented a change of Israel's 
attitude on the key question of a 
negotiating forum- But he, the PLO 
representative and Western diplo- 
mats cautioned that no progress 
toward actual negotiations was 
Bkdy until the issue of PLO partici- 
pation in the process was resolved. 

“This speech was directed at 
UA opinion," said the PLO repre- 
sented^ 2*hdiTttzL“ to refliiim 
that Israel wants peace. But there 
was no acceptance of the substan- 
tive offers that have been made by 
us for negotiations. Peres knows 
Hussein cannot move without the 
PLO." 


U.S. Defense Contractors 
F oresee a Bonanza in SDI 


Friendliness can be concentration. 


.L'.V'* 'v.i 



(Continued from Page 1) 
seminar by tbe American Soriety of 
Mechanical Engineers where “engi- 
neering professionals learn how to 
get in mi the ground floor" of the - 
“state-of-the-art cornucopia." 

Throughout industry, “lobbies 
are bring galvanized,"' said Laur- 
ence W. Lytton. a Wall Street ana- 
lyst TRW Inc. and McDonnell 
Douglas Coip, among others, have 
named vice presidents in charge of 
the space program. At Boeing Co„ 
600 people are working on ballistic- 
missile defense. 

Tbe Pentagon recently said that 

10.000 Soviet scientists and engi- 
neers are working on space-defense 
laser weapons, but Lieutenant Col- 
onel Leon T. DeLorme Jr.' said he 
had “no way of even estimating 
how many people are working on 
it” in the United States. ' 

The Council on Economic Prior- 
ities, however, reported that about 

5.000 scientists, engineers and oth- 
er technical workers pursued SDI- 
r da ted projects in 1984. a cadre 
that the council predicted would 
swell to 18,600 by 1987. 

During the 1985 fiscal year 
alone, Colonel DeLorme said, tbe 
Pentagon’s Strategic Defense Ini- 
tiative Organization awarded 
about 1,000 contracts worth a total 
of more than SI billion. According 
to Defense Department docu- 
ments, more than 260 companies 
and laboratories shared in the 
bounty. 

Pasha Publications recently 
started a biweekly newsletter called 
Military Space,” which was “our 
fastest launch ever.” according to 
David Gump, the associate pub- 
lisher. The company also markets a 
guide to space defense that prom- 
ises to “give you a running start," 
and adds:. “Don’t miss it." Mr. 
Gump has sold several hundred, at 
S145 a copy. 

Some SDI devotees worry »hai 
industry is not counterpunching 
hard enough against skeptics and 


arms control advocates, such as the 
Union of Concerned Scientists and 
the National Campaign to Save the 
ABM Treaty. 

Phflip A. Buckley of Aerojet said 
he and his colleagues “worry a lot” 
that Mr. Reagan might trade away 
the apace defense program during 
his Geneva meeting next month 
with (he Soviet leader, Mi khail S. 
Gorbachev. They said they wished 
there were other large progr ams on 
the horizon. 

Carl T. Bayer, a House Armed 
Services Committee staff member 
who oversees SDI spending, told an 
industry conference last year that, 
“Given a couple of billion dollars 
or more funding, there’ll be a fairly 
good, constituency built up and 
there’ll be a lot of pressure placed 
on the various congressmen to vote 
for higher funding in this area." 

“But up until this point," Mr. 
Bayer said, “it’s kind of hanging 
out there by itself." In an example 
oflobbying from Capitol Hill, Mr. 
Bayer urged the engineers: “Let’s 
get letters in to your congressmen.” 

Many experts are skeptical. “I 
don’t know a single scientist in the 
oountry who agrees with the presi- 
dent s definition of the program," 
Senator Sam Nunn, a Democrat of 
Georgia, said recently. 

Many industrialists acknowledge 
doubts that even the technological 
gemus of the United States wfll 
achieve the “thoroughly reliable” 
shield that is Mr. Reagan’s stated 
goal. 

on? CS * >!te ^! C more than 

-00 companies expressed interest 
in bidding for the Defense Depart- 
ment’s grand “system architecture" 
studies, a rough blueprint for the 
space-based defense system. The 
heawruroout was no surprise on 

Wall Sum. 

.^•Campbell or Payne Webber 
said: There’s no reason for any 
“airman of any company to stand 
up and say. ‘Well, personally I 
dunk ns a little loony, but we’ll 

take the dollars.’ ” 


U.S., Tunisia in Collusion 
On Airliner, Mubarak Asserts 


Perhaps it’s part of the secret of our success that we interpret the notion of friendliness very broadly. 
Because we want our passengers to experience friendliness whenever they come into contact with Swissair. 
After all, reliable reservations, precise information and helpfulness are really much more engaging than 
the most radiant of smiles. "Which you don’t, of course, have to dispense with, as you can find out for 
yourself day by day, worldwide, and in all three Swissair classes. swisscHTi 


PM. or 4 PM. that there was no 
responsible man" of the PLO to 
receive them, “I give immediate or- 
ders to bring them back, because if 
they reach this destination and no 
responsible man receives them, 
they may be freed." - 
K if he had been en^^ed in. 

“YeTof course, there should be 
deception at 6 o’dock when I start- 
ed planning to send them to Tuni- 
sra. Any country in the world 

would Mver say that they are now 
here, and I'm goingto send them to 
Tu msa . lt would be very stupid if 

we ray su^ a thing. You k«W that 

we haw these people m Cairo here 
only after we asked the permission” 
forte EgyptAir plane to go to 


When he was asked why he l 
“ ot tended the hijackers over 
Jhe United States, he said he 1 
been concerned about the inter 
reaction in Egypt 

“Tte Egyptians would never 
cept such a thing," he “TI 

wouW leU , mc J how do you sendt 
S!^ a lh ? e l P e PP fe to Ute Utrii 
toy have no right 
9° totel because a 


saw the man was kille 
an Italian ship. How 

Sir “5? tom to t] 

States? They would be r 

Mr. Mubarak had ea 
a public apology f roc 

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•••••"’ - • pt^'' 


By Robert Pear 

New York Tima Service 

WASHINGTON - Federal of- 
finals say they are investigating “ a 
substantia] number” of lawyers 
who specialize in immigration as 
pan of an inquiry into fraudulent 
schemes to obtain visas, work pa- 
musand other benefits for alien* 

Officials of the Immigration and 
Naturalization. Service have de- 
clined to give a specific number of 
cases under investigation other 
than to say that there are “several 
dozen” 

The . service says inurdgration 
fraud is widespread. Its officials 
say it is concentrating its inquiry on 

marriage fraud and fraudulent ap- 
plications for permission to work in 
the United States. 

Immigration lawyers say the 
government’s assertions about the 
extent of fraud are unproved and 
the investigations are meant to dis- 
courage lawyers from rep nwn ring 
aliens vigorously. They also strenu- 
ously object to the government’s 
investigative tactics. 

The government has already 
brought charges or taken other le- 
gal actions against some lawyers. 

Dale M. Schwartz xsl A tlanta . 

president-elect of the American 
Immigration Lawyers Association, 
was recently indicted by a federal 
grand jury on eight counts of mail 
fraud and false statements in a case 
involving a British businessman 
who came to the United States to 
work for an American aerospace 
company. Mr. Schwartz pleaded 
not guilty last week. 

In Houston, two lawyers were 
recently sentenced to 18 months in 
federal prison after they pleaded 
guilty to three criminal counts aris- 
ing from what was termed a fraud- 
ulent scheme to get work visas for 
clients. 


f in Getting 
Widespread' 


Court to Rule If Airlines 
Must Serve US* Disabled 

United Press International 

WASHINGTON — The - U.&. 
Supreme Court agreed Monday to 
decide if airlines that use govern- 
ment-supported sendees must obey 
a federal law banning discrimina- 
tion against the handicapped. 

A UJS. Court of Appeals ruled in 
January that since airlines use air- 
ports that get money from the gov- 
ernment and enjoy tire sendees of 
the federally operated air traffic 
control system, they mdirectly re- 
ceive federal financial ' assistance 
and must follow the lav?;* '-*■ * ' *' 


In Boston, a federal grand jury 
has subpoenaed the records of a 
privateJaw firm and a legal service 
chnic staffed by Harvard law stu- 
dents who help represent aliens in 
immigration cases. A federal dis- 
trict judge quashed the subpoena. 

The Justice Department has 
asked the judge to reconsider, say- 
ing the files might show that the 
lawyers helped their diems make 
false statements, commit perjury 
and evade the immigration law. 

The government says the lawyers 
may have “turned a Wind eye" to 
“obvious indication s of their di- 
. ents’ fraud.” Deborah E. Anker, an 
instructor at the rfmic a n d at Har- 
vard Law School denied the allega- 
tions and said that such subpoenas 
would discourage lawyers from ag- 
gressively representing aliens, “an 
already vulnerable and underrepre- 
sented class.” 

Sam Bemsen, a. retired general 
counsel of the immigration service, 
said: “It is highly questionable 
whether these alleged violations are 
really criminal m nature. The im- 
migration law is monstrously com- 
plex- Much of h depends on the 
alien’s intent, whether he intends to 
come here temporarily or perma- 
nently." 

John F. Shaw, chief cf investiga- 
tions for tire immigration service, 
said the agency was focusing on 
two types of abuse; marriage fraud, 
which occurs when an alfcg en- 
gages in a sham marriage to an 
American citizen to get an immi- 
grant visa, and false statements to 
rap an alien enter the United 
Suites for a specific job. 

Before aliens can get permanent 
visas to work in tire United Stares, 
the Labor Department must deter- 
mine whether Americans are avail- 
able to do the job the alien would 
take and whether employing the 
alien would adversely affect Ameri- 
cans’ wages and working condi- 
tions in similar jobs. If the answer 
to both questions is no, tire depart- 
ment issues a labor certification, 
facilitating the alien's entry. 

The government contends that in 
many cases employers and their at- 
torneys have improperly written 
job descriptions to duttinaie quali- 
fied American workers from con- 
sideration. 

Michael F. Treworgy, regional 
inspector general of the Labor De- 
partment in Dallas, said that in his 
region, which covers 11 states, the 
authorities are “investigating more 
than^a-dozen cases of suspects! 
;'fraud,irivol^ng4awyers, alias and 
■ employers.'** • - • 



Federal Absentee Ballot 
Is Under Study by U.S. 


Tb* WSOOOMd Pmr 

He’s living Up to aT-Shirt Slogan 

Anthony Mandia, 44. was the first recipient of 3 new artificial heart developed by researchers at 
Pennsylvania State University. Mr. Mandia received the heart' cm Friday at a hospital in Hershey, 
Pennsylvania. Doctors said Mr. Mandia suffered a temporary disorder on Sunday but since then the 
heart has worked beautifully. They said they hoped to replace the artificial heart with a real one as 
soon as one became available. The slogan on Mr. Mandia's shirt reads “Penn State Has Heart." 

Stefan Askenase, a Belgian Pianist 
Who Interpreted Chopin, Dies at 89 

Reuters 

BONN — Stefan Askenase, 89. a 
Belgian pianist, died of heart fail- 
ure shortly after giving a concert in 
Cologne, West Germany, on Sun- 
day night. 

Mr. Askenase was best known as 
a performer of works by Chopin 
and had - made many recordings. 

He was bom in the Austro-Hun- 
garian city of Lemberg (now Lvov 
in the Soviet Union). Mr. Askenase 
had lived in Bonn since the laie 
1960s. 

He studied in Vienna before 
World War I, when he served as an 
artillery lieutenant in the Austro- 
-Hungarian Array. 

During World War I, Mr. Asken- 
ase. a Jew. went into hiding in 
France. He became a Belgian do- 
zen in 1951. 

Joseph Rosenstock, 

Opera Orchestra Conductor 
NEW YORK (NYT) — Joseph 
Rosenstock, 90, who conducted at 
the Metropolitan Opera and was a 
general manager of the New York. 

City. Opera, died of a heart attack 
Thursday in New York City. ■ / . 

• Over the course of iusicwg ca- 


reer. Mr. Rosenstock also conduct- 
ed orchestras in Germany and Ja- 
pan. He was bom in " Krakow, 
Poland, and graduated with honors 
from the Academy of Music in Vi- 
enna, where he had studied the pi- 
ano. 

Benjamin Mwanyanange, 
Founding Member of SWAPO 

NAIROBI (Reuters) — Benja- 
min Mwanyanange, a founding 
member of the South-West Africa 
People's Organization, died 
Wednesday in Belgrade, according 
10 a announcement reported Sun- 
day by the Angolan news aeency. 
ANGOP. 

Mr. Mwanyanange was head of 
the UN Insuime on Namibia, 
based in Lusaka, Zambia. He was a 
member of the Central Committee 
of SWAPO. The organization has 
been fighting a prolonged war 
against South Africa, which admin- 
isters South-West Africa, or Na- 
mibia, in defiance of the United 
Nations. 

■ Other deaths: 

-Madame Simone, 108, an actress 
who interpreted many roles on the 


Paris stage at the be ginnin g of the 
century, in a nursing home in 
southwestern France. She later en- 
joyed a second career as a novelist 
and auiobiographer. 

Antoni Gronovricz. 72. the author 
of “God's Broker," a book about 
Pope John Paul 11 that was recalled 
from bookstores after its publisher 
termed it “fraudulent." of a heart 
attack Wednesday in Avon. Con- 
necticut. 

Tish Sommers, 71, co-founder of 
the Older Women's 1 and a 
political activist who called for the 
recognition of economic and social 
problems facing older women, of 
cancer Friday in Oakland, Califor- 
nia. 

Florette Henri, 77, a historian 
and writer who studied discrimina- 
tion against blacks 2 nd American 
Indians, on Ocl 12 in Yonkers, 
New York. Her works included 
"Bitter Victory: A History of Black 
Soldiers in World War I;" “The 
Unknown Soldiers: Black Ameri- 
can Troops in World War V writ- 
ten with Arthur Bar beau; and ■ 
“Black Migration: Movement 
North 1900-1920." 


The Assoaaied Press 

WASHINGTON — The U.S. 
government plans a new kind of 
absentee ballot for the 3.5 million 
Americans who are outside the 
country for every election. 

All Americans of voting age who 
are abroad on Election Day are 
entitled to cast absentee ballots in 
the state where they last lived, 
whether they are abroad for an ex- 
tended time or a short visit. 

Under the current system, they 
receive absentee ballots from offi- 
cials in each individual state. Some 
voters receive the ballots late or 
find the system too complicated. 

Under the plan, a new absentee 
ballot for federal offices that could 
be used in place of a state ballot 
would be available at military in- 
stallations, embassies, consulates 
and other places in Foreign coun- 
tries. 

Henry - Valentino, head of the 
federal program to assist voters, 
said the proposed ballot is “not 
controversial and we have good 
hopes of getting it approved in this 
session of Congress.” 

Mr. Valentino said Friday that 
the plan had been approved by De- 
fense Secretary Caspar W. Wein- 
berger. The voting-assistance pro- 
gram is under the Pentagon even 
though it also is used by civilian 
voters. Taken as a whole, Ameri- 
cans abroad form a voting bloc 
larger than some oT the 50 states. 

He estimated that only about 33 
percent of the potential civilian 
voters cast ballots from abroad in 
the 1984 presidential election. That 
compares with on estimated 53 per- 
cent in the country as a whole. The 
voting figure was 55 percent for 
members of the armed forces. 

Some states have cumbersome 
procedures that require voters to 
get several documents notarized. 
Others do not send absentee ballots 
early enough. 

Under a 1975 law, the act of 
voting for a federal office cannot be 
used to make a voter eligible for 
state taxes. 

Chicago Will Settle Suit 
Over Police Spy Squad 

The Associated Press 

CHICAGO — The city has 
agreed to pay 5306,250 in damages 
to 20 targets of the Police Depart- 
ment's now defunct “red squad," 
an attorney said Monday. Pay- 
ments of S2G.625 each will go to 10 
organizations, while 10 individuals 
will collect $10,000 each. 

The out-of-court settlement was 
the result of a 1974 suit by 25 
plaintiffs /who cgptetidtft the unit 
spied on and disnKri^kuKfuI ac- 
tmties r *’ ' ‘ > 


The bill to provide the new ballot 
would be drafted in the Senate 
Rules Co mmi ttee, which may hold 
hearings as early as next month. 

“The voter first must have ap- 
plied for a regular absentee ballot 
not later than 30 days prior to the 
election,” Mr. Valentino said. 
When completed, the special feder- 
al ballot would be forwarded to 
local election officials. 


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BARCELONA: The Grand EuropeanTerrace 


Rising in the east of Spain, the warmest 
and sunniest country of ancient Europe... 
Anchored in a calm, good natnred, bine and 
familiar sea... . . 

Enveloped in the magical, laminions. 
atmosphere of the Mediterranean... 

Part of the new Europe, now more united: 

than ever,.. 

Above all. a magnificent Terrace where 

everything is larger than life and seen against 
a brilliant background of sea and sunshine, 

The incomparable European Terrace. 
Barcelona. 

And the Mediterranean harbour 

, Barc^naean«!tslr^asB.sfeapott l aliiated 

in the glowing and evocative Mediterranean. 

It's u city as civilized and historic as any. From 


Barcelona City Hall 

Barcelona Tourist Office 


its magnificent Terrace in the am Barcelona watches 
the sea and the sea is reflected in ail Barcelona, 
fiere is a great harbour, a lug door wide open 10 
trade, tourism and spotting events. 

And the boulevard of flowers 

Barcelona is a Terrace 
bedecked with flowers, 

: exhiliration and excite- 
ment.’ It's like its splendid 
Rambbsde las Flores, a . 
boulevard of flowers uni- 

7 que in the world for its 

beauty, colour and background. And for its people. 

And the Gandi Chnrch 

This famous church, designed by Antonio 



Gaudi, epitomises the spirit of Barcelona and 
enshrines the Holy Family. 

Indeed, Barcelona is itself like a church 
and reveres the work of this famous architect 
with many examples of his work for you 
to admire. 

So the grand European Terrace is more than 
a Terrace because it contains within it the magic • 
and individuality of Gandi's work. 

And the sport olympiads 

Every day there are exciting sporting events 
in Barcelona. And there is something for 
everyone, amateur or professional. 

Barcelona lives for sport, with its stadiums, 
sporting playgrounds and its magnificent position 
by the sea. 

Typical examples of its importance in the world 



ol sport are the 
’82 World 
Football Cup 
and Barcelona's 
jorainalion for 
toe '92 Olympic 
Games. 


And the Picasso museum 

It is perhaps only fitting that the Picasso 
Museum should be situated in Barcelona because 
pie town itself wasa source of so much 
inspiration to this brilliant painter. 

Just watdi a pigeon as it flies past any corner 
of the Gothic District and you will understand 
why Barcelona meant so much to Picasso and 
has so much of his style and colour. 


And the main course 


Any visit to Spain must include a stay in 
Barcelona. In fact, it should be the main course 
on your travel menu because of its an, its 
culture, its scenery', its entertainments and 
its food. 

Nowhere else in Spain Is there such a variety of 
cuisine. For example, nearby is the Penedes. the 
eava's cradle, and the internationally famous 
Catalonian sparkling wine -an ideal place in 
j=tf which to drink a toast to your 
**• journey. Not to mention the 
nightlife. 

If Barcelona is spectacular in 
the daytime it is magnificent 
atraght.lt glows with 
lights and offers you a host 
of exciting entertainment. 


From the gentle hills surrounding h -specially 
the Tibidabo and Momjulc- Barcelona offers 
you a wide choice of cinemas, theatres, music 
halls and night-clubs. 







csrtNiu 

5TAIV EVrBTOIIVJ 

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Page 6 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 


Reagan to Announce 
Arms Sale to Jordan 
Despite Lugar Warning 


Vnrtcd Press International 

WASHINGTON — President 
Ronald Reagan was expected to 
send a formal notification to Con- 
gress on Monday of his intent to 
sell SI. 9 billion worth of U.S. arms 
to Jordan, a deal he says is vital to 
Middle East peace efforts. 

A formal announcement was ex- 
pected in the face of warnings from 
Richard G. Lugar, chairman of the 
Senate Foreign" Relations Commit- 
tee. that Mr. Reagan accept condi- 
tions on the sale to avoid its defeat.. 

The arms package, estimated at 
SI. 9 billion, includes 40 jet fighters 
and an array of anti-aircraft mis- 
siles, including mobile Hawk sur- 
face-to-air batteries. 

Mr. Lugar. an Indiana Republi- 
can. said in an NBC television in- 
terview Sunday: “I would say we 
would have to reason together and 
find out if there is a way King 
Hussein's defense needs can be met 
and at the same lime the security of 
Israel guaranteed.’' 

Larry Speak es, the White House 
spokesman, emphasized on Mon- 
day Mr. Reagan's argument that 
Hussein deserves the U.S. arms as 
an inducement to remain involved 


in efforts to forge direct negotia- 
tions with Israel. 

"King Hussein has made some 
courageous statements regarding 
direct talks and his involvement in 
the peace process." Mr. Speak es 
said. 

Mr. Lugar told Secretary of State 
George P. Shultz last week that 
there is a high probability that the 
package will be defeated in the Re- 
publican-led Senate unless it is re- 
vised. 

The sale will be automatic unless 
both the Senate and the House of 
Representatives reject it within 30 
days after formal notification. 

The Democratic-controlled 
House is virtually certain to defeat 
iL and Senator Alan Cranston, a 
Democrat of California, appearing 
with Mr. Lugar. forecast its defeat 
in the Senate. 

Mr. Cranston said: “The strong 
feeling is that this is not the lime to 
give arms to Jordan when they are 
in a slate of war with our No. 1 ally- 
in the Middle EasL Israel." 

Shimon Peres, the Israeli prime 
minister, appearing on ABC televi- 
sion. was asked if any conditions 



Richard G. Lugar 

could be attached to the sale to 
quell Israel's opposition. 

“Yes. there is just one condition: 
Let’s have peace," he said. “1 mean, 
our feeling is — contrary to the 
prev ailin g feeling in some circles in 
Washington — is that arms will not 
lead to peace." 

Also on the ABC program. Zbig- 
niew BrzezmskL national security 
adviser to President Jimmy Carter 
said: “If we don't help Jordan, at 
the very best we'll drive it into the 
hands of Lhe British and the 
French, and at the very worst help 
to precipitate, eventually, political 
change in Jordan." 


Zia Expresses Hope for Belter Relations With Indio 


By Elaine Sdolino 

New York Times Service 

UNITED NATIONS. New 
York — President Mohammed Zia 
ul-Haq of Pakistan has expressed 
the hope that his meeting with 
Prime Minister Rajiv Gandhi of 
India on Wednesday win “pave the 
way for a belter, friction-free rela- 
tionship'’ between the two coun- 
tries. 

“We thought we could meet here 
to explore the possibilities of how 
to get over the snail's pace of nor- 
malization of relations,” he said 
Sunday. 

The two leaders, who are attend- 
ing the 40th anniversary obser- 
vances of the United Nations, have 
met twice before, at the funerals of 
Indira Gandhi, the Indian prime 
minister who was assassinated a 
year ago, and Konstantin U. Cher- 
nenko. the Soviet leader who died 
in earlier this year. 








dear nonprolifmiioo traiy. and, wilh China, saying t!w Pakistan's 
S aai i^ot acccptablc, m interna- nudear program is totally mdige- 

riocal agreement-" nous. 

The Pakistani leader called the Another subject that he expects 

nuclear issue a “major point of con- to come np ax his meeting with Mr. 

tendon” between the two nations. Gandhi is India's contention that 
asserting that in the last six months Pakistan aids Sikh terrorists at 
India had “stepped up its propa- inning camps in Pakistan. Gater- 
ganda that Pakistan is indulging in ai Zia has denied the assertion. Td 
nuclear technology for military not only like somebody to prove 

purposes." that Pakistan ts training the Sikhs, 

India mare rains it has no pro- but why should we?" he said. At 
gram to produce bombs, and con- another point he said: “You just 
tends that Pakistan is determined don’t sod your hands u n necessarily 
to have one. General Zia reiterated unless you can achieve.” 
denials that his country is develop- He ^ ^ ^ berdethetween 
ing a nudear bomb, saying, Paki- j n j ia Pakistan is “open and 

stan has neither the resources nor gg^jjy accessible by smugglers or 


the means nor the desire. 


anyone wishing to get across.” He 


hum 

Mohammed Zia ul-Haq 


Rajiv Gandhi 


Pakistan's program to produce en- 

hke the United States to deal with Security Council, to help smooth riched uranium at the Kahuta plant 


He added, however, that his that “we don’t mleont" tha t 

country had no intention of chang- -jgjjjg s il-hs may have got across to 
ing its policy on developing its nu- Parisian and some- Pakistanis 
dear capability. He characterized might get across to India.” ", 


Concerning' internal policies. 


Zia reiterated his pledge to sign the P UB16 ' raJostans otter is mat 

treaty banning the spread of nude- ^ a S r “ s ^ sign a nudear non- „ WUUUJ - fh „ « 

ar weapons and to open his coun- proliferation treaty, we will be sign- The mission, which urged the future enemy requirements. the COTStituoan is totally revived 

try’s nudear plants to in ternarional m S onc nmiuie before. two countries to undertake “re- General Zia dismissed as “all Youu^e a free, mde- 

safeguards and inspection if India General Zia said he expected to gional initiatives" to avert a nude- fabrication” Western intelligence pendent, democratic government, 
agreed to do the same. He said that discuss regional cooperation with ar arms race on the subcontinent, reports that Pakistan has buOt a The lifting of martial law is not 

a regional policy was necessary to Mr. Gandhi this week. was praised in Pakistan and criti- s mall reprocessing plant in Islam- expected to have much effect. Gen- 

deal with the nuclear abilities of the Last month, the United States cized in India. abad that con produce plutonium, eral Zia is demanding that the new 

two countries. sent a mission led bv Michael H. “Let's have mutual insoection of He denied recent reports from In- assembly pass constitutional 


country 


deal with the nudear abilities of the Last month, the United States cized in India. abad that con produce plutonium, eral Zia is demanding that the new 

two countries. sent a mission led by Michael H. “Let's have mutual inspection of He denied recent reports from In- assembly pass constitutional 

“Let’s have an evenhanded po- Armacost, undersecretary of state both nudear installations," Gener- dia that Pakistan was on the verge amendments to allow a military 

licy from international agencies," for political affairs, and Donald R. al Zia said, “and if that is not of conducting a nudear test with council to overrule any actions of 

he said, “and also from countries Fortier, a member of the National acceptable, let’s have a bilateral nu- Chinese cooperation on its border the civilian government. 



Syria I§ Said to End Efforts to Free U.S. Hostages Right to Dignity Refugees, Alleged Use of Mercenaries 

By Ihsan A. Hiiazi the cruise ship Achille L3uro. The The political leaders were in Da- correspondent for The Associated 1^ Death Uph/sld Tl - 'J3 T • O TL - 

York Tmia Sen,ce four hijackers were arrested by Itar mascus for talks on ending Leba- Press; and the Reverend Lawrence Jn Pnnnj SfWw/l X (A l I B ill III<1 1 llwill X CLllUIl 111 CjlM > 1.1 IMM I. 

BEIRUT — Syria has aban- ly after the plane was forced to land non’s decade-long civil war. Martin Jenco, a Roman Catholic J. O 

loned efforts to giin the release of in Sicily , s . ha , dow y. ** P riest - ^ Aaonated Pre * By William Branigin Karen villagers by Burmese troops, French group’s office in Bangkok 

Americans kidnapped m Lebanon The Lebanese political leaders lamic Jihad L which i as believed to Syria's president, Hafez al-As- VATICAN CITY - Pope PostSemS relief workas said. strongly demed providing amTa* 

i 4 hair orwwvL auoted unidentified Svnan officials consist of Shiite Moslem fun da- k» ( n t, n d^..i n ~ . _ . _ .... ^ 


By Ihsan A. Hijazi 

Vw York Tinier Service 

BEIRUT — Syria has aban- 
doned efforts to gain the release of 
Americans kidnapped in Lebanon 
in the last year and a half, accord- 
ing lb Lebanese political leaders. 

The political leaders said Sunday 
that Syria had been angered by the 
U.S. interception of an Egyptian 
airliner carrying the hijackers of 


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Surrey TW9 1HY, England. 


the cruise ship Achille Lauro. The The political leaders were in Da- correspondent for The Associated 
four hijackers were arrested by Ita? mascus for talks on ending Leba- Press; and the Reverend Lawrence 
ly after the plane was forced to land non’s decade-long civil war. Martin Jenco, a Roman Catholic 

in Sicily. The shadowy organization Is- priest 

The Lebanese political leaders lamic Jihad, which is believed to Syria's president, Hafez al-As- 
quoted unidentified Syrian officials consist of Shiite Moslem fun da- ^ been personally involved 
assaying that after the interception mentalists who support Ayatollah m pasl efforts to free kidnapped 
of the Egyptian plane no one would Rubollah Khomeini of Iran, is re- Americans, and one has been re- 
ever trust the Americans again. ported to have kidnapped all or leased. That hostaae. the Reverend 


Liverpool Cancels 
Municipal Layoffs 

The AsstXtaleJ Press 

LIVERPOOL. England — The 
city council has agreed to cancel 
the planned layoffs of 31,000 city 
workers and accept an independent 


ported to have kidnapped all or leased. That hostage, the Reverend 
most or the six missing Americans. Benjamin Weir, a Presbyterian 
The group said earlier this month minister, was freed last month. 


that it had “executed" one hostage, 
William Buckley, who until his kid- 
napping 18 months ago was the 
political officer at the U.S. Embas- 
sy. 

A week later, the organization 
delivered a photograph of a body to 


In a message carried by Mr. 
Weir, the kidnappers said they 
would be ready to free all the 
American hostages if Kuwait re- 
leased 17 people convicted for 
bomb attacks on the United States 
and French embassies and other 


local newspapers and said it was installations in December 1983. 

workers and accept an independent Mr. Buckley’s- In an accompanying Meanwhile, an anonymous call- 
inquiry into the city's finances. statement, it offered _ to turn the er. purporting to speak for the Itid- 
The policies of the militant leftist over lo ti* United Nations nappers of Soviet Embassy officials 
council have clashed with the na- secretary -general. Javier Perez de in Beirut, telephoned a Christian 
tional Conservative Party govern- pillar, if Israel freed 100 Pales tin- radio station and said a second 
mcnL National cutbacks have re- prisoners. hostage had been killed, 

duced aid and the council, refusing Islamic Jihad said it had killed The station, the Voice of Leba- 


tan prisoners. 

Islamic Jihad said it had killed 


radio station and said a second 
hostage had been killed. 

The station, the Voice of Leba- 


to raise taxes or reduce services, has Mr. Buckley in retaliation for the non, quoted him as saying that the 


The Associated Press 

VATICAN CITY — Pope 
John Paul II condemned mercy 
killing but said Monday that 
doctors and families must en- 
sure the right of the incurably ill 
to “die with dignity." 

Addressing scientists here Lo 
discuss the problems created by 
medical advances that can pro- 
long life, the pope said, “Eutha- 
nasia is a enme in which one 
must in no way cooperate or 
even consent to.” 

John Paul also noted the Ro- 
man Catholic Church's posi- 
tion, set down in 1980, that 
“when inevitable death is immi- 
nent in spite of the means used, 
it is permitted in conscience to 
make a decision to refuse forms 
of treatment that would only 
secure a precarious and burden- 
some prolongation of life.” 


By William Branigin 

Washington Post Service relief workers said. strongly denied providing any as- 

BANGKOK — An upsurge in The latest fighting has focused “Stance to mercenaries, 
one of the world's longest insurgen- attention on the conflict because of According to Weston diptomaui 
cies, a 36-year battle by the Karen the reported death of a French mer- and relief workers, as many as a 
ethnic minority a gains t the Bur- cenaiy and the wounding of an dozen mercenaries have bem re* 
mese government, has raised con- Australian inside Burma on Oct 4. ported fighting alon gside the esti- 
cem here about Weston mercenar- According ^ Burmcse govem _ mated 4,000 guerrillas fielded by 
iK mid an influx of refugees into ment [e i e ^ on ^ Jcan-Pfculllppe the Karen National Union. 

hrrmrm Couireges-Clercq, 28, of Paris, was J The Karen deny that they are 

150 •k™ psji^foragm.sooieofwtom 

Natrooal Umonbegan early this ““**3 L* .SS™" "“T-H?: “* de *? a ? d ** “ 

month in at least toe locLms the Oaela area near the mat yoong ntahsts searing for a 

□earBurmas central border with cause. Thar leaders wish to remain 

Thailand, according to Western The Australian, identified as neutral m the Burmese conflict, 
diplomats, relief workers and Thai Martin Donnefly, 26, alias Sonny and are against merananes opera t- 
military sources. Wingate, of Perth, suffered a shrap- mg from their territory. 

At least 17,000 Karen refugees wound in the head and was The Karen, the largest of atleast 

have fled across the border since bein | treated in a Thai hospilaL nine ethnic minorities battling the 
last year and are now living in sev- Thai authorities said he was Burmese government, began tbeir 
en camps in Thailand’s Tak prov- wounded when Burmese troops at- struggle a year after Britain gave 
ince, relief officials said. Recent a Karen rebel base mside Bunim independence in 1948. 

arrivals reported mistreatment of about 14 (22 lrilome- They were disappointed at being 

* ters) north of the Thai border town denied their own autonomous state 

of Mae Sot. after having fought for the British 

-M- j Both bad identified themselves against the Japanese during World 

Mr MjPtfljfMjfH* “ b° rc * er 8168 as members of War IL They launched a httle-re- 
sw . t^Fre^vohmteexmedicdo^a- ported; lonely insurgency to gain 

__ nization, M&Sedns SansFronlieres control of a homeland consisting of 

• or Doctors Without Borders, ac- a 750-mile strip of Burma along the 

1 XXfo X C/M/t/I cording to the Thai authorities. The Thaiborder. . 


a debt equal to S162 million. Israeli air strike Ocl I on the head- police had been notified and had 
The council had announced that quarters of the Palestine Liberation been asked to retrieve the Russian’s 
on Dec. 31 it would lay off the Organization in Tunisia. body. 

entire city work force and rehire the Aside from Mr. Buckley-, the The same man, who daimed to 
workers in April. Under the com- missing Americans are Pete- Kil- represent a group called the Islamic 
promise, four financial auditors bum, a librarian at the American Liberation Organization, tele- 
from other urban councils are to University of Beirut; Thomas M. phoned three hours earlier to say 
find ways to curb Liverpool’s Sutherland, the university s dean of that one of the captives would be 
debts, while their cities will try and agriculture; David Jacobsen, the killed and his body dumped in Bd- 
iend Liverpool money to pay sala- director of the university hospital; rut’s southern suburbs, the station 
ries. Terry A. Anderson, Middle East said. 


lice had been notified and had 


arrivals reported mistreatment of 


workers in April. Under the com- missing Americans are Peter Kil- 
promise. four financial auditors bum, a librarian at the American 


Albania 9 s New Leader 
Consolidates His Power 


High Score 

PUNCTUALITY IS MORE THAN A PROMISE 








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By David Binder 

New York Times Service 

- WASHINGTON — The presi- 
dent of Albania delivered a long 
speech on domestic and foreign po- ^ 
licy recently, and hardly anyone 
outside the country noticed. 

Hardly anyone, that is, except 
the world's small band of Albania 
watchers. They noted that the 
speech, titled “Albania Will Al- 
ways Advance on the Road to So- 
cialism,” included some fresh nu- 
ances on the isolated Eastern 
European country’s attitude to- 
ward other nations. 

But the speech Aug. 26 by Lhe 
president, Ramiz Alia, acquired the 
authority of a weighty policy state- 
ment Last month when it was dis- 
tributed in translation by Albanian 
diplomatic missions around the 
world, along with a photograph of 
Mr. Alia, who turned 60 on Friday. D . . .. 

The edition made available in Kamiz Alia 

the United Slates was sent out by 

the Albanian Mission to the United French secretary of state for for- 
Nations. eign relations, spent 48 hours in 

It was the Fust address by Mr. Albania, meeting nearly every offi- 
Alia, who is also first secretary of cial in Albania acquainted with 
the governing Party of Labor, to France except Mr.- Alia himself, 
receive such an imprimatur. Mr. Alia attended a French lyo&e in 

Co ming four and a half months Tirana, the Albanian capital, as a 
after the dea t h of Enver Hoxha, the boy. 

longtime Co mmunis t leader, the Mr. Alia did not mention his 
address was seen as an assertion of government's dialogue with West 
the definitive acceptance of Mr. Germany, which began more than 
Alia as his successor. Previously, a year ago, on taking up diplomatic 
tliis kind of pub lishing treatment relations. The talks also deal with 
was accorded only to Mr. Hoxha's Albania's assertion that the Ger- 
voluminous works. mans owe compensation for the de- 


SribuneM t 



OUUiraa WiU MXD iD >U1 »»auuu Ul J uuuwem. niui HWI T_1 I r . , . — 

the definitive acceptance of Mr. Germany, which began more than QuvanTaQe Or our special rates for new subscribers ond 

Alia as his successor. Previously, a year agOjOn taking up diplomatic we'llg^youanexfrarrx>TthofTnlM/tevvfthaon^wor 
this kind oF pub lishin g treatment relations. The talks also deal with « rfvu-rinti^n Tr.t.-J rr -i ~ n r i erva rr ■ ycor 

was accorded only to Mr. Hoxha’s Albania’s assertion that the Ger- su ™ 1 P» on - savings: nearly 50% off the newsstand 
voluminous works. mans owe compensation for the de- pnee m most European countries! 

Another sign of Mr. Alia’s con- struciion caused during the brief mm mm mm — 

solidation of power was provided Nazi occupation. """ * “ ■ 

recently by Mr. Hoxha’s widow. On Greece and Italy, for exam- _ ■ ^uosorpnon Managav intemationd Herald Trbune. 

Nexhmije Hoxha, 64. a member of pic* Mr. Alia spoke of “obvious I ^ ' aven ue Chanes-de-Gaufe, 92521 Nailly Ced ev fVcnce. 
the party’s Central Committee and progress" in commensal and cul- > Please enter my subscription for: 

evidently still a powerful figure in hiral relations. I _. — 

Albanian politics. On a visit SepL As for Yugoslavia, with which . 71, 

12 to a new hydroelectric power relations have been deeply troubled I ' ■ ^ 

station at Roman, which is named for tbc last four years over the eth- a □omonths^ cour*v ' ^ — 

for Enver Hoxha, she spoke glow- nic Albanian minority of nearly I i +2w *<*sfa*] AbHq r aI* — ^ ^ 
ingly of her late husband, but also two million just across the border ■ DSmonihi Mgum RJT — ^ 

r w. a In "' r»k: n \f. a is- I #j_t . ~ y . ■ — — zdh 'AW AS/ 6 2MB 


O 3 monlhi 

of Mr. Alia. in the republic of Serbia, Mr. Alia ■ (+ 1 weefcfre^ 

Among the new accents in Mr. mixed hope with regret. | _ 

Alia’s speech was his disclosure The only other Communist * 
that Albania had finally begun di- country he mentioned was the So- | 

reel talks with Britain on a return viet Union, but he lumped it to- 1 mmm 

of about S36 million in gold that geiher with the United States, say- I mm 

had once belonged to lhe royal ing, “Our country ha 5 been and is a * ** 

bouse of King 2^g. resolute opponent of the aggressive I j— 

The gold was sequestered by Ita- and expansionist policy of Ameri- " f fS 

ly in World War it then seized by can imperialism and Soviet social- I S®SS« 
the Wehrmacht and transferred to imperialism.” .. . 

a salt miiieinGennany.lt is kept in As if to discourage speculation, | 

the Bank of England’s vaults pend* Mr. Aha added that in the after- , 
ing diroositLon by Britain, the math of Mr. Hoxha’s death, “those ] SSS ar0 * my! 
United States and France. who dream of and expect changes □ American 

Mr. Aha further acknowledged in our tine, who interpret the usual | Bcpr^ 
that the talks involved British normal political and diplomatic _ DUnersOub 
claims growing out of the so-called acts of our independent and sover- I □Eurasrd 
Corfu Channel incident of Oct. 22, eign state as 'opening up’ of Alba- . □Atataroord 
1946, when two British destroyers nia or ‘tendenaes’ to get closer to I GVso 
struck mines in the narrows near one side or another, are wasting ■ 
the Albanian coast, killing 38 sail- time.” I Codwwvct*. 


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Britain won a World Court ded- run • i i _ ci 

sion awarding compensation for - “dian Officials Are Slain 
the incident. Mr. Alia said Albania United Press International 

disclaimed responsibility for the NEW DELHI— Three mensus- 
Brining of the channel, but the mat- peeled of being Sikh terrorists shot 
i ter is now dearly on the negotiating and killed two Indian government 
table for the first time. officials Monday at a toll booth in 

Mr. Alia did not mention Kashmir, near the state’s bolder 
France, with which Albania is also with Punjab state, the Press Trust 
seeking to improve relations. Bui of India reported. The three assafl- 
bst month Jean-Mi cbel Baylet, ants escaped, the news agency smd. 


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INTERNATIONAL HERALD TROTJNE, TUESDAY, OCTOBER 22, 1985 


ARTS /LEISURE 


T. ta £§ 

• -dS> 

-. VV* 
;<?> 

■ 

:; ^ 

.' btnjji 

- 



Alma’s Body-Hugging Contours Shape the Scene 




By Hebe Dorsey 

tnumaiianal Herald Tribune 

* ARIS — The body is the stron- 


Oscars’ awards at the Opira next which has definitely had it The James Tissot, a mm-of-ihe-century been one long big fumbling story. 


Wednesday. 

Meanwhile, the atmosphere was 


result was Chanel without starch, painter. Lagerfeld kept embroidery has now turned over their design- 
There are a lot of new Chanel down to trdlised gold mesh over ing to a young American, Bruce 


gest signal so far out of the Fans heavy al Chanel's on Monday as suits to replace the old classic. The ivory shantung suits. 


Hunter, who used to work at Milan I 


collections. The dumpiofl of the people wondered if this was going most important is the peplum suit. New accessories for which Scbon, in Milan, 

look is Azzcdine Alaia, who is put- to be Kari Lagerfeld’s last coflec- with tinypleats under a strong belL Frances Suan was not given official The besi thing one can say about 

itiiA IvMiVffiit IrhhIiv a miall ri/wt mmmt a t«muer in ft imvi/V AnmHff flfltV AT nJAClf h4C AfM» • *i__ . .1 ■ .■ .«- <■ - . 



heisnot ready. with Kitty (TAJ 

His influence is worldwide, but Chanel USA, sil 
this quintessential artesan is still the chairman 

1 rv 


with Kitty (PAkssio, president of cL , 
Chanel USA, sitting on the right of 


The newest evening wear was a worn around the neck. 


quilted bags, so small they were designed by several people. The 


boning up the oil 
is now so widely 


took that 



PARIS FASHION SS^SSmSSSA 

boning upt^nltra-s^ took that Sitfmcetings 

is now so wjddy celled. with Lagerfeld until 2 AJvL the 

“I don’t believe in revolutions," night before the coOecdoo, was 
be said in an interview on Monday non commi ttal But Lagerfeld did 
at his workrooms in theMarais. not show up on the runway after 
Few people know that Alaia used the show because, a friend of bis 
to design for the Crazy Hone Sa- said: "This battle is not over." 
loon, where be may have picked up In terms of dollars and cents, 
the electricity and sexual fantasy Lagerfeld has been a huge asset to 
behind strip-tease costumes. This the house of Chanel According to 


the ril Pip ntm and owner Alain romantic taff® 3 interpretation of 
Wertheimer. D’Alessio, whom ta- 


ctful ure designer, Marc Bohan, 


may well be the secret of his sue- Michel PSetrini, president of Cha- 
cess. Somewhere, at the subcon- ud perfumes, the couture line went 
sdous level, men and women are up by 30 percent from 1983 to 1984 
strongly reacting to it and the ready-to-wear by 35 per- 

ffis most exciting new dress is cent 
cut even closer to die figure. Made Politics aside, Lagerfeld, who is 
of red, shiny acetate, it is laced up reportedly being paid SI million 
and down one side and will be worn per collection, delivered a perfectly 

Rnhhv - , , . 7^?“ *“• by one of his models at the fashion lovely, lean and sexy collection that 

Bobby McFerrm: *My instrument fs niy body.’ _L~ ; ■ should raise his stoi with the com- 

panv even higher. He keeps re- 

Finding a New Route Through Jazz »£££?.: 

By Michael Zwerin . . describes “a spontaneous eruption sang four or five songs a night with hate 

International Herald Tribune from the bean and mind." top-40 bands in Hilton Hotel and _r onld 

P r B ? b S y , McFerrin . VQkc *** MUnd Holiday Inn lounges. Then he be- chmn^ibc jereey -^be 

J- walked through the lobby ofhis ing bass, a growling trumpet, a be- gan to see “this image of myself on has renovatodit mtD it is now 
hotel accompanied by a falsetto bop saxophone, an opera singer, a stage alone. This image of solo f aTn n; ar ^ different, famous 
singing voice. At first it did not Beatle, a female rhythm and blues voice kept re-appearing. I couldn’t Qi.inH ’inline has disaDDeared 
appear to be his, his lips were not singer, a lead gnitnr, an air by Bach, deny lhat image, I just had to ex- and was renlaced hv naraT^om. 
moving. Puzzled, the desk clerk a solo by Tbelomous Monk, or two ploreit-” minis andlong skim 

looked up and around and, finally of theabove in tandem. Meanwhile He led his own combos but sang Lagerfeld threw' out heavy 
pinpointing the origin, smiled al he mimes, taps his feet, dicks his four or five songs a capella each tweeds and put his chips on ieisey 
him. Bobby McFemn is a smile tongue, pops fais lips and beats time evening. The comedian Bin Cosby and cotton poplin. This, alone, 


manufacturer. tapping ins hands against his chest discovered McFemn. He worked made the lode lighter and vouneeri 

.Asked if he was aware that he “My instrument is my body," he the Playboy, Kool and Berlin jazz He also killed the border braiding, 
had just been ringing, he replied: said. festivals; loured with George Ben- 

“No. It’s automatic by now. It’s He is not a classical musician, son, Grover Washington Jr. and 
just what I do all day. My perfor- but he does some classical pieces. Herbie Hancock. With his explo- Q«-« _ t> - 


festivals; toured with Gee 
not a classical musician, son, Grover Washington 


st what I do all day. My perfor- but he does some classical pieces. Herbie Hancock. With his explo- 
mances are simply walking through He is not a foDcsinger, but he sings sive and lurid optimism, he is in ^loUllC licStOrCrS 
lobbies." some folk songs. He is neither demand on TV and radio talk TT f1WT , 

Along with a bright group of avant-garde nor New Wave, shows. He won the Down Beat UDlCOVer JNeW 


young stars like Wynton and Bran- though he may well do some of magazine critics’ poll. 

ford Marsalis, Micfari Perrucciani these. Although he performs alone, From ^ beg^g ^ ^ n ht- Michelangelo 
and Stanley Jordan, McFemn, 35, he is much more than a one-man ed t0 muric as^afonn of medha- & 

is proving that jazz cm continue to band, and it is no mere perfor- tioiL sinaine makes me less anx- Compiled fy Our su^f Fnm Dispauha 

renew itself. But his star is brighter mance. "The audience partici- ^ hIstSc quickest way 1 know XT ™ YORK — Art conserva- 
than the rest, he is a coastellauom pates, he said. “It’s me wuh them w quiet myse if down, to carry me TN tore cleaning the ceiling of the 
he considers himself a “jazz" singer rather than me versus them." The w tfiespint. Riffs are my manoas.” Sistine Chapel said ihey have dis- 
only to the extent that the word audience is his instnnnent. Now ^ he travels first class and covered a “new" Michelangelo: not 

■ : — Ifccalb for volunttos on stage, works more of ten for better prices, just a great sculptor but one of the 

nnnwcmmv • - . mto sections. As he leaves an ever brighter trail, most revolutionary colorists in the 

UUUNbbHUKX invents nffs for each and conducts he will need his manuas. There wfll history of Western art. 

r ' . • ^ . •. I- % counterponu. Orbe be the temntation to eo directlv for At a news conference, members 


Singing makes me less anx- Con&tedtyOwSitf FrtmDupauha 
It is the quickest way I know XI EW YORK — Art conserva- 
iet myself down, to carry me -l ' tors cleaning the ceiling erf the 


DOONESBURY 

S murf 
HAVmPFOBLBHSHT- uouk ., 
.. \ TORT ■] 

j I f MMW?. 

11 y 




divides them mto ihree secuons, ^ ^ leaves ^ ^ ^ 

invents nffs for each and conduas hewfll need his mantias.There wffl 
^ be the temptation to go directly for 


-*ii #r- ■ - - . uv ua> iwuip.iouvu iv 5 V vuiwmj »vi — — — 

ctinm from.row to row askmg ^e bottom line, to take fewer <rf the restorauon team announced 
■ the-peqple.thdr names and impro- r h anry< their findings, showing film footage 

vise meJodfes basedon tbem.,Be- Qn die other hand inror^ririnE is frora lhe Hryear project, now in its 

J^ore.tong. everybody is laughing -fifth year. 

arid 'cheering. But no two concerts S^SrtvdavUf^ 5 ! Wro w to Us ' n 8 spedal’solvents and scieu- 
^ the. same, and he admitted, d^Smtioa troda^il ^ lhe team has re- 

^ 1 Wke*fKt rWlf I ril moved iayers °f dixsl and dirt, as 
that case rujust sit thereand with (^c-hiacafi it will be at different ^ “ 8 lue 30(1 P® 101 appbed by 
some sort of gesture lei them know . *• L, earlier restorers, according to Wal- 

I tan t think (rf anything to do next jj“ dcn’forderU^ieS ler Persegaii director of the Vau- 
nt L-r th#» m rwi tbit inn *“*1, I °OU l OruCT IUC same UT»n 1 /..™ . 


I can’t think ofanything to do next 
HI let the audience in on that too. 
We get out of it together." 

He was writing plays at the age 


There are collaborative projects 


ter Persegaii director of the Vati- 
can Museums in Italy. 

The dirt came from candles and 
open burners once used to heat the 


nrn — a jazz version of Bach’s Magnifi- open ourners onreusea 10 neai me 

bt«na bit unusual but he did not SwSfeaSwiJte pli«S^y restorers, probabN fa the 


wumrrJHe id fttinu/cwm/ 

&QMAT5AWALLm(m&.m 
m>nJW&S, TH&CLA950FW5 
LMNGPEfiPT 


STSoUiL Kipling’s frescoes, which it did bririly before 

“Just So Tales” — fait sdoSngmg ' a™* «« fastonans 

kd^ id myy tf-slecm w^pmly rc t^ S aKh '^|™^? OT . n! removmg lhe cou of slue 

not getting Wonnanon or support nnd dna wt have found ^ors we 

?d fronaanyone else. You ate iSr na fJ? cw ™ “fl . Pcrse 8a u 
tender. gfw Mil a m MHMtrd Mrewha -J- sgo i MmhaoDen . Sone . aid "Through our clantng. j new 

Mjchelangclo appears — with full 


| probably be a librarian.' 


nyv^h times IT by to (firea a piece io go a r 

■ ^ Si certain way. but somehow thelm- brush sUoka and bnght color. 


conscious peeps around the comer 

the Metropfaitan m New York be- ■ , • ■ c^n^here m historian and professor at New 

fore the family moved toLos Ange- Si^StSJSlSSS^ York Umverrity-s institute of Fme 
'S : process. I just try and get out of the Arts,, said she diswvered after the 

SASuS* SaysouianSUpfniKo^ 


Kathleen Wefl-Gams Brandt, an 


t at Fullerton Colli 


tv so it can dwdop on its own." « P 1 ™^, ^priced 

self-portrait of Michelangelo, as 
Bobby McFerrm will smg solo at David Gghtfag Goliath, painted 


TmMXZAMOSPHEFSHeXB. 

sims, mm. m/UMNsmat, 

Trnfmm,TmsuMCHMeAr 
COURSES, TW/ALLSIWC! THIS 


California. By the early 1 970s, after Jazz Jamboree, Warsaw, on Oct 24; around 1509-10. She said the self- 
att ending Sacramento State col- play the role of Merlin in George portrait matches a painting bv Ra- 
Iege, Bobby was a professional pi- Gnunz's musical theater piece ‘'The phael of a philosopher known' to be 
ano player who worked with a Hofy Grail of Jazz and Joy” in Graz, a portrait of Michelangelo. J 

dance troupe in Salt Lake City, Austria, on Oct. 28. 29. He sings solo The cleaning project began fa 
accompanied the Ice Follies, and in Lyon on Nov. 1. 1980, and the first phase -—to clean ' 

— — — ^ r. 14 lunettes, or crescent-sh3ped 

frescoes above the windows — is 

New York Auctions Audubons S3S^532*JSSS 

the ceiling, which will take four 
The AiMuated Press stored in a vault fa Albany because more years, he said. The last phase, 

N EW YORK — The auction of the city’s archives lacked display to clean the “Last Judgment” be- 
a set of hand-colored prints by space. Six other sets are owned by hind the altar, win take another 
John James Audubon earned the institutions fa the city. ' four years, ending fa 1992. he said. 


The Associated Press 


city of New York $1.6 million to Money from the sale will be used The cleaning "is being funded 
launch a new fund to educate the to start a trust fund, with the inter- through an agreement with Japan's 
public about the city’s history and est earmarked for education, said Nippon Television, which paid 53 
archives. Eugene J. Bockman, commissioner million for exclusive rights to docu- 

The 435 prims in “The Birds of of records and information ser- meat the restoration. (AP. VPI) 

America" sold for 51,761,842 at vices, wbo administers the archives. 

Sotheby’s (including the auction A pilot program already begun ----- 

house's 10-percent surcharge to shows students videos on atyhisto- NORMAN }. LAWRENCE 

- buyers).. The auction house waived ry, based on archival material dat- umuamw .#|\ 

the 10 perc en t that it usually takes fag from tbe Dutch administration STORE YOUR OLD 

from the seller, fa this case, the dty. fa lhe 17th cenuiy. pur in a new Mi 


four years, ending fa 1992. he said. 
The cleaning is being funded 


(AP. VPI) 


SAL, m Me 

WHe&? 


BEATS 

HOME, 

MAN. 

f 




The city bought the set from Au- The highest price paid at the auc- 
dubon’s family for 51,000 fa 1850, tion was $35,200 for the Carolina 
a year before the artist died. For Parrot, said Susan Pfasky. a prim 


tbe last eight years it had been expert at Sotheby’s. 


NORMAN ). LAWRENCE 

UmiOnta 4 bJJ 

STORE YOUR OLD nftj 
FUR IN A NEW M I 
SILK RAINCOATI /\«| 
Brochure on request -L^J^l 
C.4T7 Fifth Awl, NYC 100TB ■ 




LI 





— w- WMB- 

*1 mm ■ l 


PWSENTAH0N Of The OUTSlANDtNG 
NEW CREATIONS ^ Nl 

St costal 
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COUPE -RIVIERA- F 3250 

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Black and white and navy and ^'bo was at the show, went around 
white were the key colors pf the saying he had nothing to do with il 


Page 7 


ESCAEA* 

in Paris 

at European 
export prices 

Marie-Martme 

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collection, followed by tender The most forceful look was the Lea*w wfandy t*»k pub&hef seeks mew 
peach, shrimp and a bright daffo- V-shaped suits and coat-dresses al S 

diL The most unnmal evening the begfaning with a flicker of hope antore <.idcomtrt Swd far booWt H-i 
group was fa gray taffeta. brought about by a black and 

If Lagerfeld leaves Chanel Sonia brown striped look inspired by the 
Rykid should take over. The knits American Wild West. But wo 
accented by gold buttons, which nucb of this collection was in- 
were the best pan of her collection, spired by, again , Alaia. Accesso- 
werc so strongly infl uenced by ties, faemdmg black hau equipped 
Chanel that h was bard sometimes with mourning veils, were dismal, 
to idl the collections apart. Everybody is talking about the 

Rykiel has a limited but success- fashion Oscars to be awarded next 
fill range, which begins and ends Wednesday at the Paris Opera. The 
with knits. She had a sweet hand idea, according to Jacques Mou- 
with jersey, two-piece costumes, clier, president-delegate of the 
their riion tops snugly curving over French Chambre Syndicale, came 
long and loose pajamas. Her jersey from tbe minister of culture, Jack . 
dresses, all black with bright col- Lang 

lars, were also pretty, with an fagt- The purpose or the operation, he | 
nue feding Her color sense, espe- said, is to give prestige to French 
riallv the powdered pastels, were a ready-to-wear. So far, all it has gjv- 
pleasiog sight after masses of black, cn poor Moudier is a headache. 

At Dior’s, things are changing The? backbiting and cross-firing has 
but not exactly improving This been awful he said, as people try to 
house, whose ready-to-wear has work their way into the Oscars. 


HOTEL DU RHONE GENEVA 

A prestigious dwelling 
on the Riuer Rhone 
Next to business and 
shopping center. 

Quai Turretttm 
1201 Geneva 
Phone 1022) 31 9S31 
Tx. 222?3 hrho 

A member a] HRl 
The Leading Hatelu 
at the W-i'ld 


Alexandre Savin the cashmere designer in Paris 


Red acetate dress by Alaia. 


A LL DESIGNS 
LL STYLES 
LL COLORS 
/ LL PRICES 


EXCLUSIVELY FOR 

Cashmere House 

2. nxe d’Agucsseau 
angle 60. Faubourg Si-Honore 
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Page 8 


TUESDAY, OCTOBER 22, 1985 


* 



INTERNATIONAL 



tribune 


Published With The V* York Times and lie Washington Poet 


The Strategy lor Britain 


Britain has a mania for exa mining its 
economy and disliking the result With 13.5 
percent of its workers unemployed, repeated 
social disturbances and decaying buildings 
and communications (the newest motorway 
cracked before it was opened), disgruntle- 
ment is understandable. North Sea oil prof- 
its seem a palliative, at best. 

The picture is not all bleak. The Thatcher 
government has seen inflation fall from 20 
percent to around 5 percent a year, and 
trade union behavior has become more mod- 
erate. The argument that ah this has been 
obtained at too high a cost is suspect; con- 
tinued hyperinflation might well have made 
unemployment worse than it is today. An- 
other bright spot is the buildup of invest- 
ment overseas. The left laments that the 
capital was allowed to flow out. but the 
investment is already bringing in a useful 
flow of income, which will be essential when, 
sometime in the decade ahead. Britain re- 
verts to being a net importer of oil. 

■ At a more technical leveL the government 
is changing — for die better — the way it 
uses monetary policy to balance the econo- 
my. Instead of seeking primarily to control 
the growth of a shaky definition of the 
money supply, it will nudge short-term in- 
terest rates up or down in the light of infla- 
tion and the exchange rate. The authorities 
are going to look more directly at the real 
world in which business and labor operate, 
and are thus moving away from an approach 
that gave monetary policy a bad name. 

Can the authorities act more forcefully on 
.the real world of unemployment? The gov- 
ernment preens itself on the new jobs creat- 


ed since its inauguration. But the labor force 
has grown much faster than the new jobs. 

Cries of dismay come from the House of 
Lords, where the professionally successful 
have taken over from the nobility. As the oil 
runs out, even worse joblessness is feared 
because Britain will not have enough indus- 
try to pay its way. Certainly, deindustrializa- 
tion is in process. Manufacturing is no high- 
er than when Margaret Thatcher was elected 
six years ago. It is the service sector, apart 
from oil. that has supported the economy. 

The problem can be exaggerated. The 
switch has come because people want Brit- 
ain's services more than they want its goods; 
and when the oil gives out the pound will 
cheapen and home industry will become 
more competitive. But there could be an 
awkward gap before industry revives. The 
industrial base is weak — not. as the OECD 
points out, because capital expenditure has 
been low but because it has been inefficient: 
It lakes more investment to boost output in 
Britain than elsewhere. This is an old prob- 
lem. linked to the traditional reluctance of 
Britain's best to go into industry. 

Britain's ills — and moans — might re- 
cede if government policy encouraged de- 
mand to grow a bit faster. But it would be 
disastrous, as France and Greece have 
Tound. to try to go it alone. Britain should be 
urging a mild but broad boost to demand in 
all the stronger European countries and Ja- 
pan — a concerted approach in which it 
could participate modestly. If this sort of 
coordination remains out of fashion, British 
convalescence will at best be slow. 

INTERNATIONAL HERALD TRIBUNE. 


Gieering for Volcker 


They cheered Paul Volcker the other day 
when he said he was noL leaving the chairman- 
ship of the Federal Reserve Board. Confirming 
rumors that the While House wanted to shunt 
him off to the World Bank, he told a Washing- 
ton meeting of foreign financiers that, when 
asked, “my answer was no.” It was the right 
answer for a mischievous question. 

Presumably the question was posed, or 
floated, by Donald Regan. President Reagan's 
chief of staff. It must have seemed a brilliant 
match of desire and need — desire to get rid of 
Mr. Volcker’s strength at the Fed, and need for 
a strong new president at the World Bank. 

The chairman of the Federal Reserve is a 
presidential appointee for a statutory four- 
year term, starting whenever he is named. 
Misfits can be removed, but it is not done 
lightly. Presidents commonly wish it were oth- 
erwise; they want more responsive people in 
this critical post. Even Mr. Volcker thinks it 
might be better if the chairman's term expired 
within a year after a president is sworn in. 

President Garter, desperate for a strong fig- 
ure. picked Mr. Volcker in 1979. Then presi- 
dent of the Federal Reserve Bank of New York 
and formerly a ranking Treasury official in 
the Johnson and Nixon administrations, he 
brought a formidable reputation that keeps 
growing. Mr. Reagan felt compelled to re- 
appoint him in 1983, despite the misgivings of 
his then secretary of the Treasury, Mr. Regan. 


Mr. Regan had been overshadowed by Mr. 
Volcker's alertness to Latin America's debt 
crisis and deftness in mobilizing global re- 
sources to avoid disaster. Mr. Volcker was also 
a political embarrassment He directed a tight 
credit policy that brought high interest rates 
-and the worst recession in 40 years, and he 
kept harping on budget deficits. 

The administration let Mr. Volcker take 
blame for high interest rates and recession, 
although it supported the credit squeeze and 
claimed responsibility for its success in wring- 
ing out inflation. But it deeply resents Mr. 
Volcker’s focus on those deficits. Mr. Regan 
likes to pretend that they have no connection 
with high interest rates cr the overvalued dol- 
lar and its consequences — a record trade 
deficit and resurgent protectionism. 

Mr. Volcker holds his job without arro- 
gance. A highly dedicated public servant, he 
understands that his independent course con- 
tributes mightily to financial stability at home 
and abroad. The president’s chief of staff may 
wish him out — or at least challenged by 
Reagan appointees to the board, who will form 
a majority after two new nominees are con- 
firmed. But Mr. Regan ought to reflect on 
those cheers. They mean that high-handed 
attempts to assert White House control over 
the Fed will both embarrass the president and 
shake confidence in America’s economy. 

— THE NEW YORK TIMES. 


Backward in Nicaragua 


The Sandinists have gone back to the Cuban 
type police-slate rules they suspended last year 
during the election period, when a hint of 
openness to pluralism was deemed convenient. 
Even in the interval arbitrariness and repres- 
sion were common. Now the totalitarian core 
of their philosophy is out in plain view. 

For this turn the Sandinists blame the “con- 
tras'' and their U.S. supporters, claiming that 
the elements they are clamping down on serve 
enemies of the revolution. The Nicaraguan 
regime’s credibility, however, is low. Facing a 
crisis, the regime could have moved to recon- 
cile the nation. Instead, the Sandinists have 
increasingly alienated Nicaraguans living un- 
der their rule and refused to countenance any 
dialogue with those Nicaraguans who — many 
of them, anyway — were driven to lake up 
arms by the Sandinists' repudiation of their 
own revolution's democratic promise. 

In a perverse way. the crackdown seems to 
be a more reliable index of popular feelings in 
Nicaragua than the tilted elections that the 
government ran last November. Certainly it 
represents an authoritative government view 
of its standing among the people. 

One result of the sweeping new restrictions 


is bound to be to make life more miserable for 
Nicaraguans. Another likely result of dosing 
out what opportunities existed for peaceful 
and legal opposition will be to channel resist- 
ance into armed struggle. The Reagan admin- 
istration had been contemplating how best to 
obtain the next slice of aid to the “contras." It 
has now been given an enormously useful 
ready-made case to take to Congress. 

From the administration's point of view, 
however, a large cloud remains on the horizon. 
Reports persist that leading democrats in the 
Nicaraguan opposition are distressed by the 
place in its ranks of followers of the former 
dictator, Anastasio Somoza, and by the human 
rights abuses still being reported. The Reagan 
administration's efforts to clean up the contras 
evidently have a good way to go. 

The unhappy truth of Nicaragua is that each 
side has an investment in the other's bad 
behavior. The Sandinist crackdown plays into 
the hands of the contras, whose excesses suit 
the Sandinists. Both ways, the Nicaraguan 
people are the losers. A reconciliation of all 
Nicaraguans prepared to live with each other 
remains the only decern way ouL 

— THE WASHINGTON POST. 


FROM OUR OCT. 22 PAGES, 75 AND 50 YEARS AGO 


1910: Visions of a 'German Menace’ 
PARIS — Arthur James Balfour’s recent 
speech at Glasgow on the need for British 
naval supremacy has slipped the dogs of war 
from the leash: and the London jingo pack is 
in full cry after Germany. “We are confronted 
with a menace comparable only with the dan- 
gers Lhai beset our forefathers,” says the Stan- 
dard in a labored effort to establish a parallel 
between the situation today and the situation 
that existed a hundred and five years ago, 
when Trafalgar was fought- The Daily Mail 
clamors for “special and extraordinary ef- 
forts.’' That the danger is purely imaginary, 
that it has been “made out of whole cloth" by 
the London jingoes, is apparently a matter of 
no importance. “Germany is building ships; 
Germany has no right to build ships; down 
with Germany.” That is the line of argument. 


1935: Japan Confirms Chinese Fears 
SHANGHAI — Major General Rensuke lso- 
gal Japanese Military Attache, intimated [on 
Oct. 21] that Nanking's failure to cooperate 
with Japan in instituting political reforms 
would eventually result in widespread political 
changes in China. He said that the Dairen 
conference had been unduly publicized, add- 
ing that Japan's policy was unchanged and 
that no new demands had been presented. 
However, his statement confirms Chinese 
fears that Japan is considering separating five 
provinces of North China from Nanking. He 
said Japan feels economic development and 
the suppression of Communism are “objec- 
tives which are equally to Japan's and China's 
interest, and can be achieved best with Nan- 
king's voluntary cooperation, lacking which 
Japan must proceed independently." 


INTERNATIONAL HERALD TRIBUNE 

JOHN HA Y WHITNEY. Chairma n 1958-1982 

KATHARINE GRAHAM, WILLIAM S. PALEY, ARTHUR OCHS SULZBERGER 

Co-Ckmnrten 


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


Deputy Publisher 
Associate Publisher 
Associate Publisher 

Director of Operations 


LEE W, HUEBNER. PuUuktr 
Executive Editor RENfe BQNDY 

Editor ALAIN LECOUR 

Depun' Editor RICHARD H. MORGAN 

Deputy Editor STEPHAN W. CONAWAY 

Assoaole Editor FRANCOIS DESMAISONS Director $ Cmianan 

ROLF D. KRANEPUHL Director of Aiherming Sola 
International Herald Tribune, 181 Avenue Charies-de-Gaullc. 92200 Neuilly-sur-Seine, 

France. Tel: (l) 747-1265. Tdex: 612718 (Herald). Cables Herald Paris. ISSN: 0294-8052. 

Direaatr de la publication: Walter N. Thayer. 

Asia Headquarters, 24-34 Hmussy Rd, Hong Kong TeL 5-285618- Telex 61170. 
MamnmgDtr. U.K.: Robin MatJGdm, 63 Lang Aar, London WC2. TeL 836-4802. Tticx 262009. 

Got Msr- W. German: W. Laserixxh, Friecbichtr. IX tiXOFtaddurUM. 7Z (069)726755. Tlx. 416721. 

S.A. ou capital de 1. 200.000 F. RCS Nanterre B 732021 126. Commission Puritan No. 61337. 

U.S. subscription: S322 yearly'. Second-class postage paid at Long Island City. N.Y. 1UQ1. 

© 1985, International Herald Tribane. AB rights resent d. 




The Challenge lor Diplomacy Is 
G etting There Ahead of the Fire 


£ W 


By James Reston 

ASHTNGTON -The managers of diplo- grievance ia the Middle. EMU and that the 


WASHINGTON - 1 ne managci>u.^^ in the Philippines, apartheid in 

. / macy here hunger tn CeBiral America 
mediate things the way fire depamMtsand Sou ■ Mc ^ co ^ ^ raus ^ 

police departments^: not with ^tteawsor {0 order and ei-enro vital 


causes or 

the prevention of Ore and crime, but, as best 
they can, with extinction and punishment. 

Thus if terror is one day’s foreign policy 
problem. Washington approves Israel s bomb- 
ing raid on the PLO headquarters in Tunisia, or 
sends U.S.. military planes over the Mediterra- 
nean to intercept an Egyptian plane cariying 
the Palestinian thugs who hijacked an I tali a n 


U.S interests. Bui we went along until these 
human disasters broke.out into violence. 

This is not hard to underetand. Even if you 
don’t deal with' the causes of the fire, you have 
to try to put >l oro. Bui ii is increasingly dear 
that there is a limit to what the United States 
can do to deal with human tragedy all over the 
world. It needs a philosophy and a sense of 



ik> bmmk nWmS nief ra i inn's lareer ob- point there is confusion in Washington in the 

Reagan administration and in Congress.-. 


vital to the Reagan adminis tration's larger ob- 
jective of peace in the Middle East, or with the 
Italian government that took chances to sup-' 
port U.S. nuclear defense against Moscow's 
threat to the security of Europe. 

The State Department has now been trying 


It might be useful to listen to George Ken- 
nan. probably America's most thoughtful and 
experienced foreign policy philosopher. Now in 
his 80s, Me Ken nan wrote — as a duty and 
to dcafvrith the’ consequences. It sent Deputy maybe, as he sai4“m - about 

Secretary of State John C. Whitehead to Cairo bistong « 

and Rome to ease the tensions that have result- We should approach the problems of 
ed from these military actions. 


At the same time, the president sent his 
personal friend. Senator Paul Laxalt, to Manila 
to uy to put out a smoldering fire in that 
country. In both cases the result has been to 
minimize the influence and authority of U-S. 
ambassadors in Manila, Cairo, and Rome. 

Nobody will blame the president for trying to 
put out fires; many even admire him for the 
military skill that brought about the arrest of 
the hijackers of the Italian ship. But the larger 

E roblem remains . For years, U.S. governments 
ave been. minimizing the causes of foreign 
policy crises, dealing with military insurrec- 
tions in Latin America, the Philippines and the 
Middle East, trying to deal with every crisis 
wherever it breaks out. You can admire this 
attempt but not the judgment that Washington 
can intervene in every conflicL 
We have known here in Washington for a 
long time that the Palestinians had a valid 


*We should approach the problems of for- 
eign policy with a relative humility, bearing 
in mind that our resources are finite and that 
we are faced with certain urgent and difficult 
but limited tasks, the successful accomplish- 
ment of which is essential to world security 
and to our own; that we must concentrate ou 
the performance of these tasks if we are to have 
any chance of completing them; that we can- 
not. for this reason, afford to dissipate our 
attention, our energies and our resources an 
those dreams of world betterment, that pursuit 
of global involvement and authority and that 
moralistic posturing which are so congenial to 
the American political tempo-ament and to the 
rhetoric of our public life.'" 

This may be. as Mr. Ken nan would concede, 
a voice from the past. But he insisted that 
Americans should be thinking about the causes 
of human conflict and not about the militaristic 
ways of dealing with the consequences. 

The New York Timex 


Managua’s Sandinist Regime Shoots Itself in the Foot Yet Again 


N EW YORK — The Sandinist government 
in Nicaragua was already a heavy burden 
to bear for those North Americans who consid- 
er it illicit and unwarranted for the United 
States to intervene militarily in the affairs of 
Central American nations. Now Managua's 
heavy-handed suspension of civil liberties has 
made that burden much harder to bear. 

The San dinis t government is admittedly 
Marxist and closely allied with Cuba and the 
Soviet Union. Bui Nicaragua is a weak and 
impoverished country that poses no discernible 
threat to the United States, other than in Presi- 
dent Reagan's nightmares. Its threat, if any, to 
other nations in Central America — certainly to 
the Panama Canal — could be countered easily 
by U.S. military assistance and guarantees. 

Since the Sandinists came to power, Nicara- 
gua has not been a democracy — nor was it 
ever, except cosmetically, under the autocratic 
and sometimes despotic Somoza regime so long 
supported by the United States. Human rights 
abuses chargeable to the Sandinists are in no 
way comparable to those that the Somoza r£ 
gime perpetrated, or to those of South Africa; 
and they are surely no worse than those under 
other governments that the United States has 


By Tom Wicker 


found acceptable — in South Korea, for in- 
stance, or in Chile or the Philippines. 

Nonetheless the Reagan administration has 
maintaine d — and there is some evidence to 
suggest that it created — a military insurgency: 
the so-called “contras," heavily tainted with old 
Somocistas, that operates from sanctuaries 
across the border in Honduras. All but openly, 
the art minis tration has conceded that its aim is 
to overthrow, or at least to “change the form" 
of, the Sandinist government, which it pictures 
not only as a threat to its neighbors but as a 
regime bent on extending Marxist revolution 
and Soviet power north to the Rio Grande. 

It is this overwrought attitude and the ad- 
ministration's resulting attempt to overthrow a 
government it does not like that many Ameri- 
cans. and most Latin American nations, have 
strongly opposed. Most do not admire the San- 
dinists or the regime they have created; hot they . 
deplore this new example of lawless U.S. inter- . 
veution in a region where gringo dominance! 
backed by military muscle has often been detri- 
mental to the well-being of the region's people. 

The Sandinists have sought occasionally to 


build up this kind of internal and international 
dissent against the interventionism of the Rear 
gan administration. But more often they have 
seemed to go out of their way to lend plausibili- 
ty to the Reagan administration’s charges 
against their regime. For example: 

• When they held national elections, they 
insisted on doing so under rules that caused the 
major opposition parties to withdraw. Thus the 
Sandinists not only made themselves appear 
afraid to test their strength; when they won. as 
was assured by their own rules, they failed to 
prove the kind of popular support that many 
observers believed the/ really had. 

• Just when the U.S. Congress had rebelled 
and defeated President Reagan's request for 
further aid to the contras. President Daniel 
Ortega Saavedra imprudently flew off to Mas- 
cow, dramatizing Sandinist links to .the Cbm- ." 
munisL warid. Congress immediately reversed - 
itself .and reopened the aid. pipeline to the. 
Insurgents. That may say much about UJS. 
politicians’ fear of being thought “soft on Com— 
munis m.’’ Nevertheless, President Ortega's 01- 
timed trip rescued Mr. Reagan’s Nicaraguan 


polio' just when it had run into deep trouble. 

• Now the Sandinists. in an apparent victory 
for their hardest-line faction,' have suspended 
civil liberties to an extent hot before seen dur- 
ing their regime. Mr. Ortega's decree said that 
this step was necessary because of “the brutal 
aggression by North America” and the contras. 
So. to some extent, it may have been; but the 
decree 1 in fact leads substance to President 

^^abuw'h^m and civil rights. therefore 
the decree will further diminish u^S. and inter- 
national opposition to Mr. Reagan’s deter- 
mined campaign against the Sandinists. 

If the new restrictions are strictly enforced, 
moreover, they will put an effective end to the 
political liberty that has remained surprisingly 
vigorous in Nicaragua. That can only drive 
more internal ^political critics of the Sandinists 
into the military insurgency against them. 

If Ronald Reagan is not, the Sandinists sure- 
ty are their own worst enemy. Under Mr. Rea- 
• gAri's: pressure titqy needed : to prove to the 
world that 'they were not the repressive dicta- 
tors he said they were; Instead they seem almost 
determined to fit his description. " 

.... -The New York Tunes. 


Nice Postwar Weather 
Would Console Whom? 

By Daniel S. Greenberg 


W ASHINGTON — The ongo- 
ing debate over whether nu- 
clear war would be followed by 
nuclear winter might ordinarily be 
dismissed as merely an exercise in 
strategic pedantry. Behind it, of 
course, is the question of whether 
the bomb is even more horrific 
than it was thought to be. But the 
fact that there is a debate at all 
merely reflects a generally compla- 
cent acceptance of weapons that 
can, after all end the world, with 
or without an ensuing chill. 

The technical issue that divides 
the controversialists is whether nu- 
clear blasts would be followed by 
dear skies and sunshine -or instead 
by sun-blocking smoke and soot 
that would compound the disaster 
with a global deep freeze. 

Sensible people, of course, long 
ago conduded that even in its most 

Others who look on 
are justified in 
reacting with 
appalled disbelief. 

benign form, nuclear war would be 
so catastrophic that there is no pur- 
pose in calibrating the spectrum of 
destruction. But such indifference 
to detail does not appeal to the 
scholastics of nuclear calamity 
who, for the last few years, have 
beat exchanging learned blows. 

The inventory of nuclear war- 
fare's calamitous potential had al- 
ready swollen to horrific propor- 
tions when, in 1980, researchers 
perceived still another nightmare. 
It came in the form of a hypothesis 
suggesting that dinosaurs and oth- 
er creatures were obliterated when 
an immense asteroid struck 63 mil- 
lion years ago, sending up a cloud 
of dust that blocked the sun and 
thus created asteroid winter. Tem- 
peratures plunged, water froze, 
plants died and so did the animals. 

Scientists who are worried about 
macho-kook expressions of surviv- 
ability in nuclear war took note of 
this scenario or prehistoric calami- 
ty. Sounding public warnings that 
we all might follow the dinosaurs 
into frozen oblivion, they orga- 
nized major studies to fill in the 
details. Prominent among them 
was a group of researchers that 
included Carl Sagan, an accom- 
plished scientist and popularizer. 

Two camps mobilized in re- 
sponse to the alarm. Scientific pur- 
ists retorted that too much uncer- 
tainty existed about wind currents. 


temperature effects, target areas 
and so forth to arrive at any firm 
conclusions concerning the atmo- 
spheric consequences of nuclear 
war. So it was that Mr. Sagan and 
company drew jeers from one of 
the world’s pre-eminent scientific 
journals. Nature, whose editor in- 
sisted that more research was need- 
ed before the nuclear winter case 
could be evaluated. 

With its bountiful bankroll, the 
Pentagon financed just that, by en- 
gaging the National Academy of 
Sciences to look into the problem. 
The academy appointed a commit- 
tee of 18 scientists and they in turn 
consulted 29 others. The commit- 
tee's conclusion, announced earlier 
this year, was that nuclear winter 
might happen but existing scientif- 
ic knowledge was insufficient to 
provide a sure answer. It recom- 
mended more research. 

Meanwhile, the ann-to- the- teeth 
camp responded that the nuclear 
winter thesis was unproven and, 
anyway, that it looked like a peace- 
nik contrivance, since the Russians 
had incorporated it into their arms 
control propaganda. A recent arti- 
cle in the rightishjournal Strategic 
Review asserts, “The hypothesis of 
a ‘nuclear winter' rests on thus far 
inconclusive evidence." It bizarrely 
adds. “Perhaps conclusive ‘proof 
can only come in the event of the 
already prohibitive catastrophe of 
nuclear war." From this it proceed- 
ed to the conclusion that to the 
extent that nuclear winter may en- 
sue from nuclear war, the solution 
is to proceed with President Rea- 
gan's “star wars" program. 

Writers from the Rand Corpora- 
tion. a leading think tank, chimed 
in with the proposition that if nu- 
clear winter would indeed follow 
nuclear war, a sneak pre-emptive 
attack, no matter how successful 
would backfire by freezing the at- 
tacker, too. There was also a sug- 
gestion for redesigning nuclear 
weapons to minimize the soot and 
smoke they would send skyward. 

This is all rich stuff for nuclear 
scholastics — and perhaps, too, for 
devotees of dark comedy. Others 
who lode on are justified in react- 
ing with appalled disbelief. Assur- 
ances of perfect spring weather to 
follow would not make nuclear war 
any more attractive, nor would fi- 
nal proof of the nuclear winter the- 
sis make it any more unthinkable. 

The writer, a longtime observer oj 
science ‘and health issues in Wash- 
ington. \is editor and publisher oj 
Sdence '& Government Report, an 
independent newsletter. 


Americans May Be Hooked on Africa 


B russels — One of the most 

far-reaching U.S. foreign policy 
moves this year may turn out to have 
nothing to do with “star wars," Cen- 
tral America or nuclear disarmament 
It could be that it will be America's 
generous response to famine in Afri- 
ca that most marks 1985. 

For this is the year when the Unit- 
ed Stales went into Africa, one of the 
few remaining areas of the world it 
had managed to stay out of. In the 
past Washington has been glad to 
leave much of Africa under the influ- 
ence of the former European colonial 
powers. But three milli on tons of U.S. 
food aid have changed that 
The grain shipped as a humanitar- 
ian gift to the drought zones inevita- 
bly takes on a political character. 
Almost overnight the U.S. contribu- 
tion in .Africa went from little or 
nothing to about three-fifths of all 
the emergency cereal aid that has 
been pouring in from abroad. 

With the European emergency 
food aid programs (1.8 milli on tons 
in 1984-1985) thus edipsecL the Unit- 
ed States is likely to be pulled into a . 
dominant new role in Africa. The 
leading aid and development agen- 
cies are already trying to weigh the 
implications of America's involve- 
ment in the African famin e problem. 

Their experience is that emergency 
aid leads on to development aid, 
which is just a short step away from 
Lhe quagmires of African politics. 

seed that the Sudanese ^Save named 
“Reagan seed" may prove as sure a 
hook as President Kennedy’s handful 
of military advisers in Vietnam. 

Yet America's entry into the Afri- 
can aid picture is no bad thing. The 
outlook in black Africa's 20 or so 


By Giles Merritt 

least developed countries is bleak, 
although not necessarily in ihe ways 
that television coverage has tended to 
suggest. Distributing grain to the 
starving is not die major problem. 

Africa’s difficulties are profoundly 
structural and it has taken the hor- 
rors of famine- to remind the industri- 
al countries of their forgotten prom- 
ises to help tackle such deep-rooted 
- disadvantages as soaring birthrates 
and the absence of non-farm eco- 
nomic activity. African governments’ 
prickly pride is partly to blame, but 
the West's efforts have yielded few 
results. Industrial output in develop- 
ing Africa stands at only 1 percent of 
the world’s manufacturing produc- 
tion, despite pledges by the rich na- 
tions 10 years ago to shift more, in- 
dustry to the Third Work! . 

There is now a United Nations 
target to raise Africa’s industrial out- 
put to 1.4 percent of global produc- 
tion by 1990. But deindustrialization 
is today almost as much a problem as 
def oresta tion or desertification. Even 
in comparatively- prosperous West 
African countries like Senegal and 
Ivory Coast, foreign trade barriers 
and mou nti ng indebtedness are pro- 
voking zero growth. In sub-Saharan 
Africa, the drift to the towns is not 
creating modem urban economics 
but nations of aid drones. 

Africa’s population will triple in 
sree to 1 j billion people by 2025 
unless draconian birth control mea- 
sures are urgently introduced. In tero- 
perate and well-managed agricultural 
economies like that of Kenya, the 
population explosion has 
out fine achievements. By the turn of 


' the century there will be 127 milli on 
Africans hying below the starvation 
line, as against about 70 million now. 
- The sort of help that the emergent 
nations have so far been getting from 
well-meaning Western sources is of- 
- ten a mixed blessing. Just how dou- 
ble-edged a sword outside aid can be 
is well illustrated by Mail which for 
the last five years has been a test bed 
for a combined UJS.-European Com- 
munity strategy aimed at restructur- 
ing its cereals sector and preventing 
the country from becoming indefi- 
nitely dependent on food aid. 

Mali is a potential cereals exporter 
that has retreated bade into subsist- 
ence fanning due to administrative 
inefficiency and government interfer- 
ence in the market for wheat, sor- 
ghum and maize. If the' “miracle 
wheats” now being developed for Af- 
rican conditions are to banish hun- 
ger, say the experts, market mecha- 
nisms must be adjusted to favor food 
producers rather than consumers. 

' The government liberalized the ce- 
reals market, and prices started to 
rise encouragingly. But now Mali is 
caught in a classic squeeze between 
the world Bank advisers and the In- 
ternational Monetary Fund, which is 
' masting on economic austerity so 
stringent that consumers cannot af- 
ford the higher food prices.' 

The arrival of the United Stales 
as a major, player in Africa should 

help (be shaping of more , coherent 
development programs in the future 
In the meantime, though, there is a 
risk that Africa's appetite for food 
aid could lead to it becominga battle- ■ 
ground for the U.S.-EC farm surplus- • 
es trade war, instead of a target for' 
development assistance. - 

International Herald Tribune.- ■ 


LETTERS TO THE EDITOR 


Israel Can Do No Right 

It is interesting to learn from Miles 
Copeland (Letters, Oct 13), who ap- 
pears to be well -educated and well- 
informed. that Israel is the most hat- 
ed nation not just in our time but “in 
history.” More hated that Iran, re- 
sponsible for the deaths of hundreds 
of thousands? More hated than the 
Khmer Rouge of Cambodia, than the 
Sandinists, than even Hitler's Nazi 
Germany? It really does not seem to 
have made much difference that the 
Israelis, whatever their many mis- 
takes, have made it a hallmark of 
their very existence to be governed by 
commonly 'shared principles of law. 

Has Mr. Copeland, perhaps inad- 
vertently, provided us with the reason 
why Italy. has released Mohammed 
Abbas, the PLO official alleged to 
have masterminded die hijacking of 
the Achiile Lauro? And is this also 
the explanation for the willingness of 
commentators to dismiss any PLO 
responsibility for the terrorist actions 
of Palestinian “splinter groups'!? 


But if hatred of Israd exists to the 
extent suggested, what cair be the 
point of Israel making amr.« 



■ auauuuilillg mg 

jo exchange for pieces 
of paper that-claim to establish peace 
relations with neighbors? 

The terribly depressing conclusion 
is not *at israd* s problems are 
caused by us retribution against 
those considered to be ultimaudvre- 
jonable for increased terrorism. It 

^ dec P 1 y ^bedded haired 

?IrSSi 08111101 h® dispelled by 
Israeli government policies. J 

MARK l. COHEN. 

Paris.' 

: Miles Copeland. states that terror- 

Liberation Organiza- 
tion. The point is that the PLO W 
never tned any other wayijfJdheS 

whitibSos 

for destmction of the state of lsroe? 
°° ne 6°tiation, no recognition and 

a ° 4 has «jar a oSp 


David accords. United Nations reso- 
lutions and offers by successive Israe- 
li prime ministers to negotiate with- 
out any prior conditions. 

BILLOAKFIELD. 

Leicester; England. 

Three Afrikaner Graces 

Apartheid is repulsive; but Mag- 
num's photo (Ocl 12) of the Her- 
stigte Naaonale women in Afrikaner 
costumes must be one .of. the most 
enc h a n ti n g renderings since the three 
graces in Botticelli's “Pnmavera." 

LEOPOLD. KOHRl 

Salzburg, Austria. 


, tended for pubtii 
4bould be addressed “Letters 
EdHor” and nutst.conitdn du 
&s signature, name and fit 
dress. Letters should 'be' Me 
f* "tyett to editing. We e 
oc responsible for the Mu 
WBoucrred manuscrip ts. • ' 







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^ t^spay, october^tt^ 


BUSINESS-/ FINANCE 


U.S. Stocks 
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!WUBBAHPOPno»K 


Elders Bid 


SS^r , V N T Weapon Rejected 

By Allied 


By JAMES STEKNCOLD 

Font Tima Service . 

N t ?^ t More hoopla than business is expected 

tins Friday when the alphabet soup of stocEmdot 
15 th "? kened bytheadxhSm of three new 
widelv eriSSSf 18 - covcnn 8 owr-the<ounter inarlceL The 

brokm is ■** R* w; the new 
«*»«* importance to the exchanges in their 
for ? wiket sharc than for the invSdnapoblia 
vT^r^ re S ard ’ the event is looked upon as having major 
m determining which exchange will emerge aTthe 
leader or the burgeoning stock index market. 

wh ^ fem:hmgagpeclt0 

cago Mercantile Exchange, ZT T”j ‘ ! : " ' 

the Chicago Board of Trade, Retail mvegtors 
and the Chicago Board Op- - , , 

uons Exchange will start trad- ' Deoverwneuiiea 

hy proliferation of 

tures contract on the Standard Stock-linked products. 

& Poors mdex of 250 over- f 

the-counter stocks, called 

SPOC. The OBOE is expected lb start trading an option on that 
mdex. And the CBOT intends to begin dealings in a futures 
extract on the National Association of Securities Dealers index, 
of 100 over-the-counter stocks. 

There are three contracts on over-the-counter indexes already 
in existence. Two are offered by the Philadelphia' Stock Ex- 


change, which has both a future and an option. There has been no 
tr ad in g in the future for two weeks and options activity bag 
light, an exchange official said. 

The NASD has traded with some measure of owey, an option 
on its 100-siock index since the end of last month “i can’t blame 
the public for feeling overwhelmed by all of the*** new products,” 
said John Wall, executive vice president of the NASD. 

’1/lf \ i A , T'V OES THE PUBLIC want or need such an array of index 
./Ml £ I I products? Gerald Kuschnk, head of options at Prudential- 

* ^ Bache Securites, was one of several experts who described 

^ the confusing bhir of contracts as “me-too products.” 

“There could be some retail potential in an over-the-counter 
index option,” he said. “I wouldn’t count that out These can be 
volatile indices, and the speculator craves volatility. But you have 
to worry about overkin with all the contracts out there.” He 
compared this proliferation to the earlier introduction of con- 
tracts on stock sub-indices, which were never a hit. - • - 
Jack Barbae el, director of futures at Gruntal & Co., said the 
new contracts could prove useful for mutual funds. “You’re 
seeing more over-the-counter funds out there, and this will give 
them a way to hedge,” he said. “But fra* the public, I don't think 
that this is an idea that has caught on, or will for some time.*' 
The over-the-counter indexes mil have to compete with the 
highly successful blue-chip index contracts that have established 
powerful leads: the Mercs future on the S&P 500-stock index 
and the CBOE*s option on the SAP 100-stock index. 

The competition among exchanges is reflected in another 
industry issue — the trading of stock options side by side with the 
underlying stocks. Currently, no exchange trades both a stock 
and the option on that same stock. 

But the Securities and Exchange Commission has approved, at - 
the urging of the National Association, of Securities ' 


: 

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it- 

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£1.8 Billion Seen 
As ’ Inadequate ’ 

By Bob Hflgerty 

International litraU Tnbunr 

LONDON —Elders DO. Lid. of 
Australia announced Monday an 
offer of £1.8 bniiaa (S2.fi billion) 
for Aliicd-Lyons PLC in what 
many analysts saw as an effort to 
buy time for considering a higher 
bid. 

Allied, a London-based food and 
drinks company, rejected the cash 
offer of 255 pence a share as “ludi- 
crously inadequate." Financial an . 
atysts here generally agreed that the 
Australian conglomerate's bid 
would have to be raised to more 
than £2.2 billion, or 320 pence a 
share, to win control of the British 
company. 

“They’re just testing the water 
for now,” sard John Spicer, an ana- 
lyst at the slockbrokerage of Grie- 
veson. Grant & Ox, who said he 
thought Allied was worth 340 to 
350 pence a share. 

On the London Stock Exchange, 
Allied shares closed at 270 pence, 
down 5 pence from Friday, as in- 
vestors pondered whether Elders or 
another bidder would ofTer a higher 
price. Already, the bid is by far the 
largest ever in Britain. 

Analysis were highly uncertain 
whether Elders, which already 
owns about 6 percent of Allied, 
could afford to raise its bid sub- 
stantially and whether the British 
government would allow the take- 
over in any case. 

Elders, a brewing, agriculture 
and finance company whose mar- 
ket value is about a quarter that of 
Allied, said last month that it was 
trying to lineup one or more other 
companies to help buy and split up 
Allied. On Monday, however. El- 
ders said it had decided to bid on 
Us own. Many analysts read that as 
a sign that the company bad been 
unable to find buyers for Allied's 
food interests on acceptable terms. 

Some prospective partners de- 
murred because of fears that the 
hid would be referred to Britian’s 
Monopolies and Mergers Comnris- 
sion, analysts said The commis- 
sion would beexpectied to delay the 
action for ax months or so while it 


Sears’s fammitment to World Trade 

Acquisition 
Raises Hopes, 

Despite Losses 

By Caroline £. Mayer 

H'ashmpoit Pan Service 

WASHINGTON — In 1S94, 
on the cover of one of h& earliest 
catalogs, Sears, Roebuck & Co. 
proclaimed: “Our trade reaches 
around the world." 

Ninety-one years later, the 
largest U.S. retailer seems more 
determined than ever to make 
the slogan come true through Us 
three-year-old subsidiary, Sears 
World* Trade Inc. 

Despite substantial startup 
problems and great skepticism in 
the financial community, the 
subsidiary, which so far has been 
unprofitable, appears committed 
to becoming a serious plays’ in 
the competitive and risky inter- 
national trading market. 

The latest sign of that commit- 
ment was the company's an- 
nouncement that it had agreed to 
buy an 80-year-old European 
and East Asian trading compa- 
ny, Hagcmeyer NV. far S25 mil- 
lion. As a distributor of consum- 
producis worldwide. 



Frank C Carlucd 


er 

Hagemeyer gives Sears World, 
bared in Washington, the capa- 
bility it has sorely larked to reach 
foreign consumers directly. 

With that ability, company of- 
ficials hope, will also come the 
opportunity to become a full- 
fledged trading company. 

The acquisition of Hagemeyer, 
with annual revenue last year of 
$840 million, “gives some indica- 
tion that our commitment is 
there,” said Richard M. Jones, 
vice chairman and president- 
elect of Sears, Roebuck. 

Despite the more than 540 
million in losses Sears World has 
incurred in three years, “we be- 
lieve it’s a viable concept, and we 
will continue to pursue it," Mr. 
Jones said “It’s an important 
part of the family of companies 
in Sears, Roebuck." 

“We are quite confident we’re 
on the right course," added Sears 
World’s chair man Frank C. Car- 
lucci, in a recent interview. Giv- 


en Sears World's initial troubles 
— which led to the resignation of 
its first chairman, Roderick M. 
.Hills, 18 months ago — Mr. Car- 
lucd and other lop executives 
had been reluctant to talk about 
the subsidiary and its future. 

But now confident that the 
Hagemeyer acquisition has put 
Sears World on a surer path to 
success, officials are beginning to 
speak oul 

Initially, Sears World set out 
to be the U.S. challenger to 
world domination by Japanese 
trading companies, it drew up 
intricate plans to become a full- 
fledged international trading 
company, one that could arrange 
the financing, development, 
manufacturing and sale of a wide 
array goods, often through Sears, 
Roebuck and its subsidiaries. 

For example. Sears World 
once envisioned helping Indone- 
sia develop its forest resources. 
In exchange, Sears would have 
gained permission to export logs 
to China, South Korea and Ja- 
pan. Scars World planned to 
help China develop a pulp indus- 
try with the logs purchased from 
Indonesia. To accomplish that, 
the trading company would have 
sold China the pulp mill and the 
logs and then offered the pulp 
produced there somewhere else. 

But those plans have been dra- 
matically scaled back. Now 
Sears World's main goal is to be 


a trader of the type of consumer 
goods for which Sears, Roebuck 
is known. “We were involved in 
too many activities and built a 
cost structure that couldn't be 
supported bv revenues in the im- 
mediate foreseeable future," Mr. 
Carlucd said. 

No longer a part erf Sears 
World's plans are projects to im- 
port and export high-technology 
equipment, such as computers or 
components for computers. Also 
dropped was the goal of becom- 
ing a major international trader 
in health-care products, such as 
pharmaceuticals, chemicals and 
hospital supplies. Linder this sce- 
nario, Sears World had planned, 
among other things, to equip for- 
eign hospitals with U.S.-made 
goods. 

“A number of these areas 
showed promise and were inter- 
esting, but we were engaged in 
too much; we needed to focus 
down on what we could do best," 
Mr. Carlucd said. 

The company has also scaled 
back its global' focus; now it is 
centering most of its attention on 
Europe, North America and 
Asia. Its interest in the Middle 
East, for example, has waned 
substantially. “We are cot going 
to be everywhere, doing every- 
thing," one Sears official said. 

Mr. Carlucd said, “We are a 
consumer-goods company. Once 
(Continued cm Page 15, CoL 6) 


Managers Offer 
To Buy Out Macy 
For $3.58 Billion 

Compiled In Our Staff From Dupauhes p or fiscal year, the company 
NEW YORK — A group of reported a decline in net income of 
managers at R~H. Macy & C©„ the 14.6 percent to 51S9J million, or 
lOth-largest retailer in the United $ 3.69 a share, from S22 1.81 million, 
States, said Monday that it plans to or $4.37 a share, the previous year. 


take the company private in a 
transaction worth S3 .58 billion. 

Under the lcveragpd-buyoui pro- 
posal. Edward S. Finkelszein. 
Macy's chairman and chief execu- 
tive officer, Mark S. Handler, the 
president and chief operating offi- 
cer, and other senior executives 
would pay $70 a share in cash for 
the company's 51.2 million shares 
outstanding,' they said. 

Trading in the company's stock 
was delayed on the New York 
Stock Exchange during the morn- 
ing but resumed later in the day. By 
midsession it had soared $17. to 
$64,125. 

News of the buyout plan touched 
off a rush for stocks of other de- 
partment store chains. At midses- 
sion Dayton -Hu dson Corp. was up 
51 to $40,125, Allied Stores Corp. 
rose $2250 to $59.50. F.W. Wool- 
worth Co. gained S2.37S to S53 and 
Federated Department Stores Inc. 
rose S2.375 lo S66J75. 

The buyout is subject to the 
group arranging financing, the ex- 
ecutives said. 

Mr. Finkelsiein and Mr. Handier 


Macy has expanded aggressively 
in the past two years imo the 
Southern and Southwestern area of 
the United States, with some of the 
chain's most successful stores in 
Miami, Houston and Dallas. It 
once was concentrated in the 
Northeast and later opened outlets 
in the Midwest and West- 

Wall Street analysts said that in- 
vestors began buying the stocks of 
other retailers in the belief that the 
Macy offer could signal a chain 
reaction within the industry. 

The analysts said that manage- 
ment’s $70-per-share offer was a 
stiff price, one that was intended to 
discourage anyone else from trying 
to acquire the retailer. 

“Finkelstein is making the price 
so high to uy io ensure that some- 
one doesn't come in and scoop 
them," said William Smith, an ana- 
lyst with Smith Barney, Harris 
Upham & Co. 

“This is a lofty price for a com- 
pany with an awful lot of debt and 
not such great earnings prospects," 
said Edward Johnson of Johnson 
Redbook Services. “The company 


said they would present the propos- stubbed its toe on earnings last year 
al to Macy’s board after financing and has been beaten down by ana- 
has been arranged. They said they lysts and money managers. You go 
have retained Goldman Sachs & private and you go your own way." 


Co. as their financial adviser. 

In a leveraged buyout, a target 
company is acquired largely with 
borrowed funds that are paid off 
with the company's operating earn- 
ings or through the sale of its assets. 

Macy said last month that its 
fiscal fourth-quarter profit plum- 
meted 44j percent from a the level 
of year earlier. Net income for the 
three months ended Aug 3 came to 
524.8S million, or 48 cents a share, 
down from S44.75 million, or 88 
cents. For that period it reported a 
3.1 -percent sales gain to $947 mil- 
lion from $918.9 million. 


He said it was possible that 
Macy could have received a quiet 
takeover offer and that the mana- 
gement-sponsored leveraged 
buyout was a defensive tactic. “It's 
not impossible, but the reverse 
could also be true and Macy was 
seeking as high a price as possible. 
Macy's would be hard pressed to 
say no if someone out of the blue 
offered to top Finkelstein’s S70- 
per-share offer." 

Analysis said it is possible that 
Macy may sell its Midwestern divi- 
sion in order to help finance the 
buyout. (AP. Reuters) 


Amoco’s Net Falls 18%; Occidental’s Rises 150% 


JASD said the program was nnlikdy.|o 1 sutrt, before Iatein;tbe f rao ° Ior « “°o“s ™ «... 
second quarter.'XbcNASDnumCTSteaiieffectiveaudrl trad, or ' mvesogated-wheibg- t he take over \can^Wo*suffj From 
system for recording 'each stage of ac transaction, for stodc and 


ikrtl on Afrifl 


options trading before it can begin. <-?. 

There has long been concern that such trading would 
opportunities for manipulation of the markets by Boor 
that are not possible, for technical reasons,' with the options trade 
separated. The pilot program is an attempt to test those theories, 
as well as the NASD’s contention that it wifi make for a more 
efficient market 


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Tokyo 21430 

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ZWOS 21540 
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23038 231430 


Closings In umOoti cam Zurich, fixings tn atfter European cmntars. New York rotes at 4 pmc 
tat Commercial franc (Hi Amounts needed to bur one eoum tei Amounts needed to bm> one 
dollar tv units of m <x> Units of 1^00 tv) units of itueetUXtnet enetsd; NJk.:noteveUObte. 
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was against the public interest' 

A senior London acquisitions 
specialist said the government 
might not allow a takeover so 
heavily dependent on borrowed 
funds. A rise in British interest 
rates could severely strain the com- 
bined company and jeopardize 
jobs, he aigued. 

As of Jane 30, Ekiess had debt of 
60S million Australian dollars 
($426 million), compared with an 
equity base of 700 million dollars. 
To finance the bid for Allied, El- 
ders has arranged to borrow about 
£L2 billion from a group of right 
banks led by Citicorp. 

The company notes that it re- 
duced debt rapidly after its acquisi- 
tion of Carlton & United Breweries 
Ltd. in 1983. “We’ve done it all 
before," John D. Elliot L, chief exec- 
utive of Elders, said in an interview 
Monday. 

Mr. EIHott, a former manage- 
ment consultant at McKinsey & 
(Condoned on Page 15, CoL 1) 


NEW YORK — Amoco Coip„ 
the fifth-largest UK oil company, 
said Monday its earnings fell 18 J 
percent in the third quarter from a 
year earlier, mostly as a result of 
falling oil pices. 

But Occidental Petroleum Corp. 
said its third-quarter profit soared 
150 percent from a year earlier, 
bolstered by a big tax break and the 
sale of some of its Colombian oil 
holdings. 

Meanwhile, Ashland Oil Inc^ the 
leading UK. independent refiner of 
gasoline, reported it competed its 
strongest fiscal year since 1980. A 
year earlier, Ashland had a big loss 
as a result of a restructuring in 
which it disposed of many of its 
notM)il businesses. 

Amoco, based in Chicago, said 
profit fell to $490 million in the 
third quarter from $600 million a 
year earlier. Revenue edged up 3 
percent io S7J1 billion from S7.1 
biHton. 

Operating earnings from oti and 


natural gas production at Amoco 
fell 18.9 percent in the quarter to 
$353 million from S496 million, 
mostly because crude oil prices had 
declined and production fdL 
For the first nine months of the 
year, earnings fell 9 percent to 
SI-56 billion from S1.72 billion. 
Revenue fell 2 percent to S215 bil- 
lion from $22 billion. 

Per-share earnings did not fall as 
far as net because of Amoco’s stock 
buyback program. In the third 

S uarter, per-share earnings fell to 
1.87 from S2.14, while for the first 
nine months of 1985. they dipped 
to $5.91 from S5.98. 

Amoco's chairman. Richard M. 
Morrow, said the erosion in third- 
quarter profits reflected the effects 
of weaker crude prices and greater 
foreign currency translation losses. 

Occidental based in Los Ange- 
les, said profit in the third quarter 
jumped to $381.7 million from 
$152.9 million a year earlier. 

The improvement included a 
SI 80.9- million gain from federal 


income tax benefits carried for- from 90 cents a year earlier and 


Volcker Predicts 
Long-Term Benefit 

ward from an earlier capital loss to climbed to S4J0 for the first nine r mm Ftnlcw Pfrm 
offset gains this year. Also during months of the year from $1.89. 1 * MJtintx ± util 

the third quarter. Occidental sold Ashland reported a profit of $46 The Associated Press 

half of its interest in a new, rich oil million, or S1J4 a share, on sales of ORLEANS — Paul A 

fidd in Orfomtea lor Sl btilion to S2^ billion in its fireal fourth quar- Volcker, chairman of the U.S. Fed- 
the Royal Dutch/Shell Group. ter, which ended Sept. 30. Gams ^ Reserve Board, said Monday 

Sales m the quarter fell 12.8 per- from its gasoline business, helped ^ at Treasury Secretary James A 
' by lower prices for crude ofl and - - - - - - — - 


cent to S3.4 billion from $3.9 bil- 
lion, reflecting a decline in oil 
prices. 

“While the reduction in crude ail 
prices continues to have an impact 
on the industry overall I am partic- 
ularly pleased that Occidental has 
reported significant improvements 
for the quarter and year to date," 
said Dr. Armand Hammer, the 
chairman of Occidental. 

For the first nine months of the 
year, earnings rose 67 percent to 
$6433 million from $3843 million 
a year earlier. Revenue fdl 7 per- 
cent to $10.8 billion from $11.6 
bfllkm. 

Earning? per share, which were 
reported on a fully diluted basis, 
rose to $3.04 in the third quarter 


stable gasoline prices, led the im- 
provement from' a year earlier, 
when Ashland had a $241 milli on 
loss on sales of $23 billion. - 

Ashland said it earned $147 mil- 
lion, or $4.12 a share, in the full 
fiscal year, against a loss of $172 
million a year earlier. Revenue fell 
35 percent to $83 billion from $85 
billion. 

In Lhe final quarter of the 1984 
fiscal year, Ashland took a one- 
time charge against earnings of 
$271 million for expected losses 
and writeoffs related to the dispos- 
al of its non-oil businesses. 

Without that charge, profit 
would have been $30 million, or 79 
cents a share, (AP. UPJ) 


Baker 3d’s plan for $20 billion in 
new loans to debtor nations would 
mean long-term benefits for banks. 

Mr. Volcker was in New Orleans 
to address a convention of the 
American Bankers Association and 
to outline the Baker plan to offi- 
cials of the nation's largest banks. 

Mr. Baker unveiled his plan ear- 
lier this month at the meeting of the 
World Bank and International 
Monetary Fund in Seoul. It seeks 
$20 billion in new loans oyer three 
years to developing countries. 

The proposal would require the 
borrowing countries to enact “fun- 
damental economic change" to en- 
courage private initiative as a 
means of sustaining growth, Mr. 
Volcker said. 


Other DeOar Vnlnea 


uu 

3. (Car. wan SMBS 
1«i.no 
7-922 

Taiwan* 40M 


Currency w U5J 
Araen. antral OBO 
Austral.* 14QT7 
Aastr.scML 1BBT 
Bata.Bn.fr. 5X75 
Brazil cnn. 530000 
Canada* s uiA27 
Chines* road 3J2551 
DtaksTi krone 9.5375 
EmLpoand 1-34 

C5lerHna: 1,222 Irish C 

Sources; Sanaa* tfu Benetm (Brussels); Bcnca OmmenMe Itatteno (MS tan); Btmeee No- 
llanals as Parts t Par Is); Bank of Tokyo t Tok-ru); U/tF (SDR); BAH Minor, rfyaL (Broom). 
Other data from Routers and AP. 


Currency per UU 
Flu. markka £5» 
Gratae drac. 154.70 
Hone Korea 1 tjms 
I ndio* rupae 120337 
tods. rueUk 1.12200 
Irish X 0LBS07 

tsraefl sBtac. 1 - 47 X 00 
Kuwaiti mnar «M 


Currency par ujSB 
Mtaav.rtM. 2451 
Max. MM 38M0 
Norw. krona 7525 
MU-lNna 17-55 

Portucuda 14X00 
SOWS rfyta' 14506 ' 
Sbio.f 1132 

SLAfr.rtaMI 16455 


.-■a West Germans Forecast 3% GNP Rise 


TtaftttlBre 347 JO 
uae dtrtare 16723 
IV. MBS 


Interest Rates 


Enree 

■rreneyDcfoalti 

Swiss 


FramA 

Oct. 31 


Dollar 

D-Marit 

Franc 

Start** 

Franc 

■CU SDR 

1 month 

8-evi 



11 Ml 

916-9*1 

7V, 

3 muutba 

uu 

IMH 

4 v~* w. 

im-im 

VftA.M. 

. IFWIKi 79k 

3 moans 

■ MKi 

to-to 

4MH 


9Wr10 

JHMM- 7’tv 

6 moans 

IlwtK 

4*W4H. 

4«r4K 

11 Wnll >k . 

TOfe-IOSk 

79k 

1 Year 

aiirfitt 


own 

iito-mt 

lm-iiM 

mw tv. 

Sources: Maroon Guaranty (dollar. 

DM r SF. Pound. FF),’ 

Lloyds Book (ECU); Routers 

(BOR). Rates applicable to Interbank deposits at SJ million minimum tor woafvoMnt). 



Key Money Rales 0 * 2 ]^ 




,,,r ^ 

1 ; 
... • r 


■ if!’ areata 


United States 
Dtscwwt Rata 
Federal Fanfl* 

Prim Raft 
Broker Loan Baft 
Core Paper »MI9 Soy* 

3-maaHi Tnawrr BMs 

fruuwRi Treasury Bflb 
CM JM» any* 

CDt 4Mf days 

Wttt Stairway 
Lombard Rate 1 
OvarntaMRstt . 

One Month Interbank 

i-moaflj Utftrtw* 
tanoatb bxterbfisfc 

Franca 

MeniKtiDa Rata 
&>H Morey 
OhMwnre Marbonk 
Hnt latertmk 
Interbank 


areata 

■oak Bare Rale 
Can Money 
fi-dor Trtnrery BHI 
HMnttMftrtwtat - 


Ctau Prtv- 

7W m 
aim a 
IS «JB 

mw w 

7 JO 7J5 
110 7.11 

7J2 7 JO 
7JS 755 
740 740 


SJD AS 8 
455 4J0 
4J5 -475 
US 445 
4JS 485 


nk Mi 

9V. 9V* 

5% WP 

*3/16 93/14 

9V. *14 


llVa lift 
lift \Vk 
in* in*. 
« sm li 3/i* 


rd. 


DheawiRaft 
cam Morey 
ft day Internal* 


5 

frft 

to 


- S' 

to 

to 


Sources: Heeurx Coovnert B onk, CrM» 
Lvomots. Banket Tokyo. ■ 


UJS« MaRey Market Fmxki 

Oa.21 

Morrill Lynch atanor Assets 

ly MU: 357 . 


Tatarqte lotarect Rota Index: 75*2 
Source; Merrill Lrocn. Tolerate. 


Agfam joOar Pep ii Ha 

Oct 2/ 

imoitttt 7 w.-vm. 

imuutre ■■■»». 

Smooths Bkr-Sta 

4 months Ih-lh 

irenr BVi-BMi 

Source; Reuters. 



AM. 

HflCta Kong 327J5 

LUHoktal 324JS . — +US 

Ports OH UtaJ 327-43 :324,8s ' —071 

2»rtch 337-56 J3U» -4-SJO 

London' 376-58 324. U. . — 0 l» 

Hew York — , ' J3O0 • -flJO 

uusmbooro. Ports endLonOOn official fhc- 
. tnas; Nona Kona taut Zurich opening and 
dosSoo prices; New York cnenee current 
txmerocs.AlltopniBiidkBpor.ounc*. 
Snurce: Reuters. 




Reuters 

BONN — West German gross 
national product is expected to 
grow by 3 percent in 1986 after 
increasing 225 percent this year 
compared with 1984, the country’s 
five leading economic research in- 
stitutes said Monday. 

The 1 985 forecast, contained in a 
half-yearly report, marks a slight 
downward revision from the 215- 
percent growth forecast in the insti- 
tutes’ spring report on GNP, which 
measures the total value of goods 
and services including income from 
foreign investments. 

The trade surplus will widen next 
year to about 100 bOtton Deutsche 
marks ($38.5 bOtton} from 80 bil- 
lion DM this year, while the cur- 
rent account surplus will expand to 
50 billion DM from 35 billion DM, 
the institutes said. 

The current account measures 
trade in goods and services as well 
as interest, dividends and certain 
transfers. 

Average inflation next year is not 
expected to exceed 2 percent, the 
same as in 1985, the institutes said. 

The number of unemployed will 
fall slightly to 2_25 million from 
2.30 mtitton next year, the insti- 
tutes estimated. 

Tbrir report urged the govern- 
ment to bring forward the second 
round of & two-stage package of 
income tax cuts to 1987, one year 
earlier than scheduled, in order to 
bolster growth. 

The first round, worth almost 1 1 
billion DM, is to be introduced at 
.the start of next year. 

The institutes also recommended 
a 5-percent increase in the money 
supply during 1986. Such growth 
.would be near the top of the 
Bundesbank’s 3-5 percent growth 
tarwi for this. year. 

The central bank traditionally 
sets its target range for the next 
year’s money-supply growth in De- 
cember. 

While 1986 would mark the 


fourth consecutive year of econom- 
ic growth, the expansion lacks dy- 
namism and there is no sign of any 
notable change in the tempo erf 
recovery, the institutes said. 

They added that the driving 
force behind growth would contin- 
ue to shift from export demand to 
domestic demand next year, with 
private consumption likely to show 
a relatively strong rise for the first 
time since the early 1980s. 

The institutes said their forecasts 
are based on the following assump- 
tions: 

• Trade conflicts and debt prob- 
lems will not increase. World trade 
will grow by about 4 percent, lhe 
samp as thisyear. 

• The dollar will not show any 
considerable and long-lasting 
movements against the Deutsche 
mark. The mark will be revalued 
against most European Monetary 
System currencies next year. 

• World prices for industrial raw 
materials and oil will decline. 

• Bonn will hold to its 1986 bud- 
get plans, introducing the first 
round of tax cuts but no new mea- 
sures to influence the economy. 

• Unions will put more emphasis 
on higher wages than shorter work- 
ing hours. Wage settlements will be 
higher. 

Explaining the forecast for a de- 
cline in raw materia] prices, the 
institutes said that the weak world 
demand witnessed in 1985 would 
continue into 1986. 

In addition, raw material con- 
sumption in industrial countries is 
unlikely to rise, they said. 

Industries processing raw mate- 
rials win probably continue their 
policy of keeping inventories low, 
and supplies of non-precious met- 
als will remain abundant as pro- 
ducers try to improve plant capaci- 
ty, the institutes said. 

But thty added that producer 
stocks of agricultural products such 
as cotton, wool and rubber are so 
high that an expected cut in pro- 


duction erf these materials will not 
restrict supply. . 

As for oil; crude prices are not 
expected to rise unless severe dis- 
turbances to supplies are caused by 
the Gulf war, the institutes fore- 
cast. 

The institutes said they expected 
a rise in exports, 'already flattening 
out this year, to show a further 
slowdown in 1986. Next year’s in- 
crease would be around 4 percent, 
in line with the expected rise in 
world trade, they forecast. 

Imports would not rise by much 
more than exports, holding the real 
surplus in goods trade little 
changed. 


Add 

pleasure 
to a top 
investment 

Be our partner iii the purchase 
of a vineyard estate in 

ST ESTEPHE 

(Medoc - France) 

Your dividends will be a 
share of the wine production. 

Minimum investment : 

FF : 100.000 

To have fell information please 
send your card to: 

OFRED 

123, Av. de la FaJencerie 
. 1511 LUXEMBOURG 




p age 10 


ii 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 


C NYSE AAnd 


Most Actives 


Htafc Low Unf a*. 


gjwco an 

S*** 20815 

m i 

Fedpst In 

CoSoPni kci 

AihSStr 8440 


«M 57 


W — li 
(S* "+14* 

r =* 

S* -ti* 

S « 

35* — % 

» — lUi 

Z3Vl + fa 
£% +3* 

301% — V, 

mt +2* 


Dow Jones Averages 


Oph Mlati Law Last CML 


IrtdU* 134705 137547 13S7J5 1344.14— 470 

Trans 440.i1 4«&24 65SJ0 45194— L4l 

Ulfl 15449 14557 MU3 154.95 + 051 

Como SSLSt 5M05 94093 55199— l.M 


NYSE Index 


CompmJte 

mdiatrtala 

Tramp. 

Utilities 

Finance 


HUS low dm etrae 
10130 10095 10105 —110 
13494 13494 12494—113 
10490 UHJ9 10497 -111 
9591 5995 5591 4-113 

11394 11137 11137 —144 



NYSE Diaries 


Advanced 
Declined 
Unchanged 
Total Issues 
New Htaftm 
New Laws 
Volume us 
Volume down 


474 

093 

431 

1997 

90 


739 

749 

492 

2000 

51 

19 


Oct. » , 
Oct. 17, 
Oct. 14. 
00.15 . 
OO. 14 . 


‘Included In IM sales ftauru 


Bey Sales 

T71970 439940 2*959 

172925 440949 4940 

152.992 391422 1771 

152922 401.720 5904 

124970 295*761 378 


Mondays 


MSE 


Closing 


Vrt.nH rau 


9&M008 
T 07960900 


Prev.4PJW.voL_ 

Prev courtMsM dose U60B08O 


Tables Include the nationwide prices 
ap to the cJasinp on Wall Street and 
do not reflect late trades elsewhere. 

Via The Associated Press 


amex Diaries 


One Pm. 


Advanced 
Declined 
llndiengod 
Total issues 
New MMu 
New lows 
V olume up 
V olume dawn 


229 

274 

259 

742 

9 

14 

738ftbStll 

2900.100 


Standard & Poor's Index 


industrials 

Transp. 

Utilities 

Finance 

Composite 


HleS Law Ckns Cktae 
20990 20140 20857 — 0.10 
171 38 17099 17065 —097 
8192 0192 0192 +024 
21.91 2190 2190—113 
10790 10499 104.94 —090 



M Mi V 




ht 


Bttaan 
WofcLow stock 


DN. YM. PE 


SU. 

lift Waft Low 


nit 'L MS 1 -54 24 15 14 234* 234 23th— I* 

S3? S? £S5, 11 54 14th 13% 14 

ml ... « 7 1414 41 Mi 40* 404* + 44 

22? IS* iPS ®* J-1S *4 9 2316 23 VI 2314 

23 ANRpf ZS7 1L2 1 23% 2» 23% 

2.13 109 1 199* 19% 194* — 

12 10 10 10 — 
ZOO 59 1050 36% 35% 34 — 

92 3L7 17 55 119* 11% lift + .. 

292 119 7 1414 247* 24% 24% + fa 

140 25 15 1190 5711 54% 57 —3k 

JO 22 17 170 23 22% 23 + 

0B 3.1 145 13% 12% 12% + 

92b 49 11 11 7% 7% 7%— .. 

192*119 94 17% 17% 17*— % 

9 II 7 53 17ft 17% 17V* 

931 10 20 89 14% 13% 14 — % 

34 5750 24% 24% 24% — % 

.12 14 19 54 0% 54* 8% 

13 444 15% 14% 15% + % 

244 57 M 1023 44V* 44% 44% 

54to 94 10 54% 54% 55% + % 

190 34 4 9U 34% 33% 33%— 1% 

43 2% 2% 2% — % 
198 29 11 507 53% 53% 53% 

40 29 13 0 22 21% 71% 


s ’fc.ac* 

51* 34% ASA 
27 10% AVX 

28* 19% AZP 
40 38% AbtLat) 

2Kh 19% AccoWd 
24% 12* AarwC 
Jg* ,744 AcmeE 

$ jsw 

49% 34% AoRiLf 

24% 17* A&bFrt 
2* Ifa AlMoas 

29* 23% AlaP p( 

33% 29 U. AlaP p(A 393 124 
8* 6% AlaP dpt 07 114 

32 45V. AlaP pt 990 112 

104 V. 94% AtaP pf 1190 105 
2Mh 12V* AbkAFr .1* 5 
25 12% AOtrtos 

33% 28% AOtsas 
31% 23V. Alcan 
38% 27* AlcoStd 
32 21 AlexAtx 190 

30 20% Alcxdr 


JOB 62 
2740 97 


.. 1J 17 
94 24 12 
190 49 25 
190 34 12 
34 

25 


G9* 72* AlklCp 154* 19 
28 % 20* AkJInt 140 54 
Mi. 14* Alain pi 119 119 
«8 B51A AlalpfClIJS 119 
34% 28* A lls Pw 290 99 ? 

23% 14* AIlenG 406 24 14 
=3* IS* AlkIPd 12 

45 42 AUtSonn 

88% 82 Aids d£A 4.12 44 
83 58% AldS pIC 494 115 

111 105* AktSpfDTZM 119 

80* 47% AlldStT lit U I 
9% 3U. Allis Ch 

34% 24 AIISC Pf 
»fa 2Z% ALLTL 154 45 9 
38* 30 ALLTpf 204 54 _ 
30* 29% Alcoa 190 39 29 
19% II* AlTKU .101 
33% 2916 Amax pf 3m 109 _ 
34 22% AmHes 1.10 19 22 

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Shares End Lower in New York 


l2MMtl „ 
HKflLoe S*c» 


Din. YU. PE 


5b. 

BBS wan 


Law Qurt-pive 


United Press International 


NEW YORK — Share prices were lower 
Monday ai the close of the New York Stock 
Exchange after a day of moderate trading. 

The Dow Jones industrial average, which rose 
0.45 Friday, setting a dosing record, finished 
down 4.70 at 1,364.14. 

Declines led advances by a 3-2 ratio among 
the 1,971 issues traded. 

Volume amounted to about 93.S million 
shares, compared with 107.1 million Friday. 

D ennis Jairett of Kidder Peabody said that 
though the market has rallied recently, its inter- 
mediate trend was downward. 

“The market is becoming overbought,'’ Mr. 
Jarrett said. “Though we would not be surprised 
to see positive upside action, the broader mar- 
ket indexes will not set new hi ghs. " He said 
prices win be lower three to six months from 
now. 

“We have not been particularly pleased with 
the lack of leadership or the limited breadth of 
the market's advance," Mr. Jarrett said. 

Other participants took a more buliish view. 

“The market is giving a good account of itself 
after its sharp runup last week,” said Barry 
Berlin of Sheaison Lehman American Express. 

Mr. Beilin said the market was encountering 
“normal profit-taking" but that continued low 
inflation and indications that corporate profits 
could rise in early 1986 were constructive fac- 
tors for the market's intermediate-term course. 

He added that frequent takeovers and lever- 
aged buyout underscore that many stocks are 
undervalued. The market's advance, he fore- 
cast, would broaden into a strong year-end 
rally. 


Avon Products was near ihe top of the active 
list and down modestly. 

Beatrice Cos. was lower.' Its board unani- 
mously rejected a $4. 9-billion bid from Kohl- 
berg, Kravis Roberts & Co. Cincinnati Gas & 
Electric followed, op Vi to 18& 

RJHL Macy climbed more than 16 points to 
63%. Members of the company's senior man- 
agement intend to make a leveraged buyout 
proposal of 570 for all Macy's shares. 

Western Airlines was lower after a widely- 
read financial column said takeover speculation 
in the stock might be premature. 

Texas Oil & Gas was easier in active trading. 

Union Carbide was down a biL The stock has 
climbed recently on rumors that GAF, a large 
Union Carbide bolder, might be increasing its 
stake in the company. Another rumored scenar- 
io, which Wall Street has called less likely, has 
talked about a leveraged buyout of Carbide at 
570 to 575 a share. 


Litton was lower after gaining more than 17 
points last week. That advance occurred on 
rumors that General Electric and Schlmnbeiger 
were interested in bidding about 5120 a share 
for the defense, electronics and oil equipment 
company. 

Among other blue chips. General Electric 
and Ammican Express were lower. Exxon was 


up moderately. United Technologies was off. 
Dow Chemical was up. General Me 


Motors was 


easier. 


Among technology issues, IBM and Digital 
Equipment were lower. Cray Research was 
ahead. 


12 Month 
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7.1 * 512 59* 59% 59* + % 
Z6 15 1720 17% 16% 17 + * 

9.1 9 57 24* 24% 24%— to 

B 11 49 48% 48% 

7 15459 18* 18% 18* + * 

100x31* 31* 31*— 1 
lOOr 38 38 to 

100Z 58 58 5B — % 

1050Z 72 71 72 

5DZ 75* 75* 75* + to 
2W2B4 84 84 — 1 

566 17* 1619 16to— T% 
129 20* 20* 20*— % 
284 21* 21% 21% + * 
29 26 25% 25*— * 

3SB6 43* 42% 42%— % 

iest® mo 180 

87 7 6% 7 

503 12% 12V. 12% 

144 29* 28% 29*—% 
40 13* 12* 12*— % 
295 17% 17* 17%—% 
18 20% 20% 28% 

1144 22* 22% 22% — to 
100x59 St 59—1 
620X60 59* 5*to — % 

13 12 12 12 

- _ ... 24 10* 10% T0%— % 

1J6 10 14 1473 45% 44* 45 +% 

.too 3 17 39 21% 21M 21% + to 

1J0 U If 1W 3» » 37% —1* 

1J» 43 4 » 23* 23*— to 

M 34 15 281 11% 11* 11% 

M TJ 11 1364 31 30% 30% + * 

l.W 23 I SO* 50* 50% +1* 

1-X3 17 1 49* 49* 49*— * 

2J6 42 14 1047 71 78% 70% — % 

2149 2% 19% 19% — * 
Ito 43 to 430 20% 27% 28* +1 
« 43 H%x30% 29* 30% — * 
Z# 8 273 24% 24% 24% — * 


XDO 106 
1JD IU 
200 11A 
BJ8 120 
Z37 90 
287 1U> 
7J4 120 
257 9J 6 
UO 17 10 
M 1.1 18 
to 24,8 


. 15 14% 14% — to 

9 155 30 29* 29% — fa 

8 52 59* 58% 59* + % 

1ST! 34 33% 33* + to 

1 50% 50% SU%— fa 
20 27% 27* 27V. — % 

.10X108* 100* 108* — T* 
349 43% 43% 43%—% 
461 27% 26% 2»- fa 
304 20* to* tofa— * 
7 18* 18% 18% — fa 
MM 9* 9% 9*— fa 

6 1777 28% 28 28% 

37 16% T6to 16% + % 
7 17* 17% 17% + % 
66QX 78 69 to +1* 

1110 24% 24% 24% + % 
26 26 26 « — fa 

10X 40* 60* 60* 

6 20 Z7% 27* 27% + * 

271 32% 32* 32% + * 
857 27* 36% 26%— * 

2 24% 24% 24%— * 
104 26% 25% 25% — % 


17 Mona 
HMLM stock 


Pf*. YM. PE 


SU. 

lOBi Hlnft Low 


Oaoe 

OirotChW 


45% 9* Cptvsn 
39% 24* ConAar 
20 16 CamtE 

31 22% CimNG 

15* 12% Conroe ... 
38 27% Cons Ed 240 


100 

Ito 

2to 


Z6 14 
U 10 
85 9 
Z7 18 
65 8 


6J 19 
15 




47% 36* ConE pf 465 107 
50 40* ConE pf 500 104 

36 2S CnsFrt 1.10 XI 12 
47% 38% CnsNG 2J2 54 9 

&% 4* ConaPw 

33% 19* CnP pfB 4to 14J 
56 32* OnPpfE 7J7 144 

56 32* CnPpfG 736 14.1 

31* 15% CnPprV 440 14J - 
25% 14 CnPprU 340 15J 
28% 14% CnPprT 178 152 
28% 14* CnPprR 400 15J 
28* 14% CnPprP 3to 152 
28* 14% CnPprN X8S 152 
IB* «* CnPprMZSO 145 

17 9* CnP PTL 223 144 

18 10* CnPprK 243 150 

47% 31* CntICp 240 
10* 4% ContlB 

4* % Contllrt 

52 33 Cntlllpf 

2 % CtllHW 

11* 4 Cntlnfo 
24% 20% ConfTal 
38% 15% CtDoto 

1% % vlCookU 

39 27% Coopt 

41* 31* Cooplpf Z90 
20% 14% CfiprTr 40 
27 15 CoopvIS 40 

15% 8% Cop vM 221 
23% 17% CPwtdpf 248 116 
27% 17* Cordurn 44 05 15 
15* 11 Corein J6 47 11 
51% 38% CornGs 128 ZS 22 
49% 26* CorBIk 100 20 
10* 5* CntCrd J4r 30 13 
11 6 Oalg 13 

39* 32 .Crane 140b44 n 
54* 23 CroyRo 26 

mo 17* CrckNptZiB 114 
53% 49* CrckN pf 243e 51 
24 18% CrmpK 120 XI 12 

TO 43* CrwnCk 13 

44% 28% CraZM 100 ZS IV 1552 40% 40 
50* 44 CrZelpf 443 93 — “ _ 

AS* 50% CrZol pfC450 74 
35* 22* Culbra 00 24 18 
33% 13 Cullnets 18 

88* SB* CumEn 220 34 4 
10% 9 Currlnc 1.1001 07 
38% 30% CuriW 120 34 IS 
52* 33* CYdOH 1.10 23 0 


1J2 


543 9% 9* 9* 

151x37% 37* 37% + * 
12 18* 18* 18* — * 
24 30* 30* 30* + * 
an 15 14% 14% — * 

932 34% 34* 34% + % 
<000* 43% 43% 43% + * 
7 47% 47% 47% + * 
1391 35% 35* 35* + to 
255 42 41% 41% + * 

443 6% 6% 4%— to 

2301 31* 30* 30* 
wox 52 52 52 + * 

280155 53* 55 +2* 

19 29% 28* 29% + * 
1 23* 23* 23* + » 
25* 24% 24%—* 
26* 26* 26* — * 
26* 26 26* + to 

25* 2S* 25% — * 
17 16% 16% + * 

IS* 15* 15* + % 
. 16% 16* 16* — to 
929 41* 41* 41* + % 
89 7% 7% 7%—* 

496 2* 1% 1%— to 

HO sa 52^ S2„ 

870 % A Sfc 

67 11 10* 10% 

630 23% 23* — ‘ 

2226 18 17* 

217 1* % 

742 37% 36% 

35 38%. 38* 

_ _ 143 16* 16 . 

14 16 1265 25* 24% 25 — * 
7 9* 9* 9* 

40 18* 18* 18*- * 

108 24* 23* 24 — * 

3D 12* 12 12 — to 

466 50% 50 50% — * 

400 49* 48* 49* +1* 


*2 w 
25 8 



41 8* 7% 

132 10 9% 

47 36% 36* 

1388 53% 52% 

1 18% 18* 

54 51% 51% 

14 23% 23* _ 

192 72% 69% 7T 

180 48 47% 47% 

1 60% 60% 

69 31* 31* 31*— * 
771 14 13% 13% + * 

107 66 65 65 —I* 

14 18* 10* 10*— to 
105 34% 33% 33% — I* 
30 48% 40% 40% + * 



2% 1% E nance 25 

13% 9% Enters 

19* 14% ErttexE 2J0el7.1 
31% 17% Entexln 1J6 70 11 
35 19% Equfxs l.M 13 15 

6* 2% Eawlmk 
22* MU Enmkpt 2J1 1Z2 
30% 25* Eqmkpf 
50% 32 Eat R«5 172 40 9 
17 B* Eauttec .16 14 6 
14% 10% Ermwt JO 24 13 

24* 13% EssBue 44 2.1 13 

26% 15 EsexCB 70 34 13 

28 15 Estrtne 72 45 20 

25* UM Ethyls -56 24 13 

6 I* wIEvanP 
9* 1% v Evmpf 

12* 2% wlEvnptB 
43% 33* ExCeln 172 4J II 
17* 14% Exeter 106ell0 


187 2* 2% 2* 

35 12% 12 12 — * 

8 15* 14% 14%—% 
19% 19* 19* 

86 71 30% 30% 

507 4* 3% 3% 

5 18% 18% 18% 

68 29 28* 29 +1 

42 43* 42% 42%— % 
280 10 9% 9% 

30 12% 12* 12* — * 
35 21* 20% 21 to— to 
21 19% 19% 19% — * 
117 15% 15* 15% + * 
188 Ztofe 23% 23% 

60 1% 1% 1%— * 
27 2* 2 2 


24 3* 3* 3* + 
90 41% 41 41% + 
20 16% 16% 16% 


12 Month 
HMiLew Stock 


Pte.YktPE WOt Writ Lew awLOW 


26% 19 HUnbrs 
73* 53 Hilton 
37% 26* Hitachi 
57% 38% Hal May 
83% 65* HollyS 


54* 41 Exxon 340 64 9 5290 53* 52% S3* + 


TM 

225 

l.M 

28 


20 


70 52 FMC 

86* 65% FMC pt 
28 20* FPL dp 

13% 9* FabClr 

13% 10 Facet 

20% 8% Falrchd 

39% 23* FaJrcpf 160 123 
16* II* Falrfd .18 13 
77 15* FomOIS 2D 10 

19* 13* Fartslel to 44 
38* 23 FrWstP 
28* 13% Farafi 
13 8* FayDro 

6* 4* Feders 
43% 31% FedICo 
52* 31* FedExp 
39 30% FdMoa 

22* 14 FedNM 
25 16% FetHPB 


33 31 
23 

80 8 
30 21 
7 

2.1 


30* 2» FPan pf 


9 
22 
46 11 
7 

08 43 9 
20 ZJ 20 

04e 4 8 
104 43 10 
21 

44 10 
0 

19 17 
84 

64 15 
44 13 


775 63* 62% 63* + 

2 77% 77% 77% + 
572 24% 24% 24% 

13 Vto 9* 9* — 

3 10 % 10 % 10 % 

60 9% 9% 9* 

18 28% 28% 28% 
311 11% II* 11% + 
457 21* 20% 20% — 
68 13% 13* 13* — 
2 37* 37* 37* — 
802 18* 18 18 — 


Ito 

.16 

J0 

2JT 

13b 

00 


25 18% FedR 

19% 13% FdSunt __ 

65% 49 FedDSt 234 

37 22* Ferra 130 . 

35 25% Finest 100 34 13 

11* 5* FInCnA 051 

5* 4% FTnCpPt to UJ 

37% 28% FlnCopf 6J5elB9 
6% 2* FnEBar „ 

22% 16* Flnshi 00 44 13 

27% 15* FtAfls 48 27 9 

43 25* FtBkSy 140 U 7 

34* 22 FBkFl S 100 Z9 14 

46% 25 F Hosts 100 26 V 

26% 19% FstChlc 10 57 8 

53* 44* FChlq pfX14e103 
17* 10% FtBTeX 60 53 12 
40% 35 FIBTx pf 534el4J 

44* 32* FIBTx Pi X33B15J2 
19% 6* FtatV 7 

29* 12% FFodAi 48b 24 8 

60 43% FFB 112 50 B 

55% 38* Flntste ISO 58 8 

34* 25* Flats! Pf 237 7J 
11% 7* FtMISS 24 ID f 

30% 16 FtNahin 8 

7% 5* FslPo 

30% 23% FstPo pf 242 9 J 

31% 25* FtUnRl 200 63 14 

28* 17% FtVaBk 08 34 9 

35% 19* FtWIsc 1JB 19 8 

55* 46* FWiscpf&JS 114 

41 23% FhChb 108 41 

13 8* FIshFd 05e A 

43 26% FltFftGS144 4.0 8 

28% 17* FleetEn 44 24 9 


... T l.. ... 

44 4% 4% *%— 

5 43% 43* 43* — 
1588 44* 44* 44* — 

38 34% 34% 34% — 
2030 19% 19% 19% — 

43 18% 18 18 — 

10 27% 27* 27% — 

16 24* 24* 24* — 

... 73 17% 17% 17%— .. 

XB 10 9278 67% 62* 67* +3* 
36 19 777 34* 33% 33%— Ito 

21 Z7* Z7% 27* + 

846 6* 6 6* + 

3 5* 5* Sto + 

22 33* 33 33 

43 6% 6* 6% + 

761 *18* 17% ID 
621 24% 24% 24%— . 
67 38* 37* 37%— to 
13 34 * 33% 34 
867 39% 29 39 * 

655 23* 22% 23 + * 
15 47 47 47 + * 

■65 11* 11 11 — U 

76 37% 37* 37% + * 
I 35 35 35 

42 7 6% Wi- 

les 28% 28* 28% — 

67 53* 53 S3* 

265 51* 50% 5B%— % 
M 31% 30% 30% — to 
250 BA BA 8*—* 
573 Sfc 30* 30* 

406 6* 6 6 —* 

66 27* 26% 27 
71 29 20% 29 +% 

BB 24% 24* 24* 

3W 33% 33% 33% + 
3001 55 54* 55 + .. 

15 24% 24 24% + to 

20 12 11% 1T%— * 

64 35% 35% 35% + * 
145 18% 18* 18% + * 


39% 31* Fletnrtg 100 2J 13 1550 36% 36* 36* — % 


13% 11% Flexlpt 101 120 
29% 20 PWltSfS .16 J 18 


17 

.16a A 12 
Z16 XI ■ 
M 16 13 


MUM 
M 20 
2J0 11 

200 5.9 3 
TJ6 1&8 


35 15* FtoatPt 

45* 31* FIcEC 
29* 22% Fla Pro 
18% 11% Flash 
6% 3* FhwGefi 
21 14* F lower 

20* 14* Fluor 
59 47* FoateC 

51* 40* FordM 
13* 10% FtOeor .... 

85* 56* FtHowd 104 23 17 
42% 41 FtHowwl 
15* 10% FostWh 04 40 11 
13* 7% Fax Phot 00 SJ 13 

32% 24% Foxbro 104 XI 74 
27 22 Foxmyr 15 

22% 18* FMEPn l.lOe S3 
13% 9* FMGCn 
10% Bto FMQG 208B2O0 S 
22* 14* FrptMC 00 XT M 
32% 22 Frlatrn 00 20 33 
28% 21* Fruehf JD J 4 
32* 26* FrultfRf 200 7J 
36% 28 Fuqua 00 1J B 


10 12% 12* IT*— to 

126 23% 23* 23% + * 

51 30 29* 29to— U 

3 38% 38% 38% 

26% 26% 26% + * 

39 15% 15% 1S%— * 
167 5% 5* 5% 

240 20* 20 20 — % 

1121 15% 15 15% — to 

4 54to 54* 54* + to 

37# 47% 47 47* + 

29 17% 12% 12% — * 
319 87% 81% 82% +1* 

28 41* 41* 41* + % 

695 11* 11 11* 

43 17% 12% 12* + to 

147 25* 25* 

276 24 23% 

76 18% 18* 

11* II 



253' 10% II 


41% 23* GAF 
37* 27% GATX 
37* 9* 

78% 54 
6% 3 
B 4* 

I* 38* 


40* 39% 40* 


23* 15* Dallas 04 30 10 293 
M% 9* DamonC JO 10 75 

30% 22* DotmCp 13 U 7 15M 
9% 5% Danahr 11 21 

15 6% Daniel ,18b ZS 53 

40 26% DartKrslJA 40 13 2391 


£2 


-24 

Ji 

02 


76 31 DataGn 

5% 4 Dalptn 
11% 4% DtaOsu 
22 14* Daves 

45* 29% DavtHd 
20% 14* DavtPL 200 100 
45 52 DPL pf 708 110 

66 52% DPLpf 

40% 24% DeanFd 
33* 24* Deere 
26% 20* DeHnP 
57* 35* DettaAT 100 
10 4* Deltona 

44% 24% DlxChS 104 
28* 21 DenMfs IJD 
37% 31* DeSata 108 
17% 14 Del Ed 108 
10 63* DefE pf 9 J2 

67* 53 DetEpf 708 


17 5824 
428 
X2 8 50 

10 9 76 


8* 

J* 

39 

4% 

7% 


16% 16*— Vr| 
13* 13% — * 
23* 24 + to 

BM 8* 

7* 7* 

38* 38% + * 
38 38% + % 

4% 4%— to 
7to 7* 


16% 16* 16% — fa 


Z1 17 7369 41* 39* 40 + % 


7J7 111 
06 10 19 
' 40 37 

8.1 9 

25 6 


100 

102 


25% 21* DEptF 2J5 MLS 


28% 23 DEprR 134 
27% 21% DE ptq 3.13 


25% 21* DE. _ 
29* 24.. DEpfO 


175 107 


300 


29% 24* DE pfM 302 127 


ZS 19 
50 12 
4.4 10 
1J 6 


20 


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28 13 


1J0 

100 


60 


33* 28 DEprL 400 

34% 28% DEpfK 4.12 132 
1D9* 92* DEpfl 1280 110 
20% 15% DetEpr 228 110 
24 18* Dexter m 19 11 

18% 10% DIGIar .64 37 
21 14% Djams 107T1O6 

38% 34* DlaStl Pf 400 110 
21* 20* DtcSOfn 10Oe 65 
71 6* DtomCP M 33 3 

37* 31% Dfebfds 100 

125% 85* Digital 

95 56* Dtoiev 

28* 16* DEI S 
6* 4% Dlvnln 
io* <m Dantee 
34* 26% DomRs 
23 16* Donald 

61% 43* Donley 
35% 23* Dorsey 

rn. 32* Dover 

37* 27 DowCh 
~ 36* DowJn 

29* 8* Downey 

15* 11 Drava 
24* 17% Drear 
21* 16* DraxB 
68% 34% Dreyfus 

61% 46* duPont 

50 40 duPnipf 400 


rat 27% Dv+ltP 260 78 

80* 64* Dukepf am 100 

77 61* Dukepf 700 108 

27 22% Dukepf 209 10.1 

»e 38* Dukepf 305 110 

80% 65 Dukepf *70 10.9 

83* 60 DunBrd 270 30 20 

17* 14* DuqLt 206 130 7 

!»*. DUOPtA 2.10 127 

M% 12% Duqpf 107 1ZJ 

17* 13* Duqpf ZOO 127 

18% 13% Duqpt 207 T2J 

18 M* DuqpfG Z10 IZ4 

18 1WV DuqprK 3.10 120 

20fa 15% Duqpf 271 125 

7 * 123 


511 1*% 18* 18*— to 
40i 63 63 63 +1 

2000x60% 60% MW- % 
46 40* 40 40* + * 

541 25% 25 25 — * 

252 24 23% 23%— * 

586 39% 39* 39% + * 
23 9% 9* 9to— * 

731 41% 40% 4lfa + * 

22 22 21% Z1H— * 

45 32* 31* 32 — * 

747 15 14% 14% 

UMl 74 74 74 — * 

2861b 65 63 65 +3* 

319 26* 25% 26* + % 

17 25% 25% 25% + fa, 
39 25% 25* 25* + %' 

5 25% 25% 25%- to 

23 27* 26% 27* + % 
106 27* 26% 27 

8 30% 30% 30% + to 

18 31* 31* 31* — * 

100 109% 109% 107% +3% 
17 19* 19 19* + * 

244 20% 20% 20% — * 
102 17* 17* 17*— % 
3105 15* 14% 14* — % 

31 36* 36* 36* — to 

457 22 21% 21% + to 

6 9* 9% 9% 

. 219 39% 35* 35% 

14 4426 108% 105* 106* —2 
1J 40 398 90 09* 89*— % 

87 71% 28* 21% + % 

M 5% 5to 5% + to 

572 S% 0* 8% — * 

1013 30 29% 30 

31 22* 22* 2Zto— * 

254 56 55 55V.— % 

134 34% 33% 33% — % 

642 34* 33% 33% 

50 1511160 36* 35% 36* + % 

20 19 334 38% 38 38% + * 

„ 3 281 2B% 27% 28% — * 

40 3046 12% 17% 12%— % 

.5? 16 1W2 19 18% 18% — to 

ZOO 100 7 19 18% 19 

3 16 164 68% 67% 68 — % 

300 5.1 15 4491 59% 58% S? - * 

90 . 4 46 45% 46 


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2D0z 76 76 76 

1002 72 72 72 

11 26% 26* 26% + % 

8 35 34% 35 + % 

242301 77* 71 74 — % 

749 75* 73% 74* + * 
407 T5% IS IS* + * 
165® 17% 17 17* 

600z IS* 15* IS* + % 
2DGz 15% 1S% 15% 

290z 16% 16* 16* + * 
ID® 17 17 17 +1 

32 16% 16% 16% — % 
96® 18* 18* IB* 
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32% i§8 | Q S & 

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2% * EALWIA 

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176 

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28% 21* 

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50 41 fa ESKodS 230 

60* 49* Eaton 1.40 

15% 11* EctiUns 04 

32% 28 . Ecfcerd 104 

32% 26* Ed tear 100 

m M% EDO JO 

11 7% EdCmp 

34* 22% Edward 00 

24% 21* EPGdpt X3S 

19* 9* EITara Mi 

12 7% Elcor J6 

5* 2% EiacAs 

24% 15% ElCtePS 08 

«* 11% Eloin 00 

9* 2 ElacJnt 

§ m ? g ! 200 37 13 
14% Ok EmRod .941110 9 

2}* 15% EmrvA 00 30 17 

i ungrt ixob 57 a 

22* 16% Empos 176 80 7 

5% 4 fa Emppf 00 IQJ 

M* 11% Eneruen 104 70 10 

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32* 22 E re» CD 72 30 10 
20. 11% EitlSBus J6 


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95 3* 3 3 — fa 

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21* 21* 21 to— * 

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97 B 23 2IVS 21 21* + fa 

Z1 I? 2548 43* 42% 42% — V, 

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67 % 1T * ,3V °^ ^ 

639 24* 23* 24 fa + % 
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338 5 4% 4%—* 

176 18* 17% 17% — * 
22 10 % 10 10 — % 
297V M* 13% 14 — * 
759 63% 43% 63% — * 
70S 69* 68% 68% — % 
378 37% 37* 37* + * 
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348 15% 15* IS*—* 
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16 8% 8* Bto- * 

443 « 39* 39% + * 

200y 12* 12* 13* — to 
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17900y 74* 73* 74*— to 
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.10 1.1 49 249 9* 9* 9* 

TJ0 5.9 103 20* SB 20* + to 

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27% 20* GoPoc 00 XB 85 1235 21* 21 21* — to 

26* 23* GflPwpf 3J8 t2J 

30* 25% GcPwpt 304 125 

31% 27 GdPwpf 376 IZ9 


61% 

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13* 8* GnHous 
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65* 47% 
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46* 16* 

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15* 10% 

92* 57 
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13* 10* 

13* 10* 

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26* 19 
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SJBr 73 6 

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Mot pf 375 90 
NC .16 30 17 
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Re 106 10138 
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TFlpf 105 10J 
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23* 18* GaPwpf 202 121 
26* 22 GaPwpf 375 100 
68* 55% GaPwpf 7M 125 
67* 55* GaPwpf 7J2 130 
37% 20* GerbPd 102 30 13 
23* 12% GerbSc .12 
28% 13% Getty 5 .16 

12* 8* GIANT 

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68* 50% Gillette 
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200 


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35 34% Gdrtch 

30* 24* Goodvr 
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37% 19 Gould 
45 37% Grace 

34* 26% Greater S 
21* 11 GJAFst 
IB* 14% GtAtPc 
61% 31 GILkln 100 
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429 16% 15% 16*— % 

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727 37* 36* 36% — fa 

697 IV* 17% lBta— % 

3 33* 33 33 — % 

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145 48% 47% 48*— fa 

7 S6 5% ft - fa 

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23 15 91 27* 26% 26% — 1* 

20 8 6 20* 28* 20*—* 

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6* 3% Horizon 

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30% 26 Hofelln 200 
42% 31% HauBflM 76 
19% 12% HauFab 08 
39* 28% Houslnt 101 
58* 47% Halntpf 200 
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100 60 14 225 23* 23* 22*— * 


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24% 8* KlrfllfllB 00 19 15 

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79* 40* McKpf 100 20 
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350 40 13 1263 70% 78 7816— * 

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55% 48% Momaa 250 57 TO 2520 44 


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18 11% NSfand 00 20 23 ^ 1» 13* Ufa— * 


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204 97 


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7% NwflIRs 
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3* M Nwportc 
21* Mfa NlaMP 


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78® 21 fa B* „ . 

7 17* 17* 17* — % 




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349 03 9 

100 urns 


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370 24*. 24% 24% + * 
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TO TO* MU TO* 

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161 19% 19 19%+lto 

55% 55% 55% + % 
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32* Bf* NIOMPf 
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47* 53* NtaMpf 7J2 35 29® 64* 64* 64* + to 

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00b 


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27 Zifa Latropf 204 100 
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(Continued on Page jjj 


7. 







f 

I 





























New Issue 
October 22, 1985 


This advertisement appears 
as a matter of record only. 


I Deutsche Bank Finance IM.V. 

[ Curacao, Netherlands Antilles 

I DM500,000,000 

I 6% Deutsche Mark Notes of 1985/1991 

j unconditionally and irrevocably guaranteed by 

| Deutsche Bank 

• Compagnie Financtere Luxembourg 


□ 


Interest: . 6% payable annually on November 1 of each year 

Repayment: November 1,1991 at par 

Usting: will be applied for in Frankfurt am Main . 


Deutsche Bank 

Aktiengesellscbaft 


FIRST 


In August 1985, Research Services 
Ltd. released a study of the reading 
habits of international financial 
managers in Europe.* The study 
showed conclusively that more read 
Institutional Investor than any other 
magazine . . .including: 

• The Economist 

• Euromoney 

• Business Week 

• Fortune 

• Time 

• Newsweek 

• Der Spiegel 

• Le Nouvel Economiste 

In fact, In virtually every category- 
from job responsibility of financial 
manager to industry to geographic 
location, the story remained the 
same: Institutional Investor ranked 
first 

And if worldwide leadership is not 
reason enough to advertise in 
Institutional Investor, here is another: 
thanks to strengthening international 
currencies, coupled with a new rate 
structure, an advertising schedule in 
1986 will cost international 
marketers significantly less than it 
did in 1985. 

Put first things first Contact your 
Institutional Investor account 
executive today. Or, contact 
Christine Cavolina, European 
Advertising Director, in London at 
(01) 379-7511. In New York, contact 
Denise C. Coleman, V.R & 
International Advertising Director at 
(212)303-3388. 


‘Co-sponsored by Business Week. The Economist. 
Euromoney, Hie Financial Times, Institutional Investor 
International and The Wall Street JoumalSEurape. 


tufional 

tor 























































P *ge 12 


INTERNATIONAL HERALD TRIBITS’E. TUESDAY, OCTOBER 22, 1985 


kick of Bonn Funding Threatens Hermes Project || US. Futures 


HhMi Low Open HWJ1 

51.90 MSS AtM <065 4US OA5 42.W 

41.10 3M5 1 Od MM «E3o If# MSS 

49 JO 3U7 On 4L30 41 JO 


omu man Low aose 


By Axel Krause 

- l "l*Mttional Herald Tribute 

Yhe continuing rehxc- 

!f“L of Wc f* Germany to conunii 
t^ycnuDcnt funding could threaten 
ge devdopment of Hermes, a 
space shuttle program 
7®*“ providing European au- 
“»oniy in the field of manned 
5 tace, French and West German 
s Woe officials said Monday. 

Bonn officials said thau despite 
west German industry’s support 
for Hermes, the objections 
stemmed from financial and politi- 
cal reasons. 

.On Friday, officials of the Cen- 
tfe Nationals d’Etudes Spatial es. 
France’s space agency, said that 
France's two leading aerospace 
companies, Aerospatiale, and 
Avions Marcel Dassault-Bmguet, 
tad been selected to lead the S1.7- 
Mlicm project, and that the French 
government was prepared to fi- 
nance SO percent of the total costs. 

The government directly owns 


75 percent of Aerospatiale's shares 
and 46 percent of Dassault's. 

The re maining SO percent of the 
project’s costs could come from 
other West European governments 
which already have expressed inter- 
est in Hermes. CNES officials said, 
citing Austria. Belgium. Denmark, 
Ireland, Italy. Netherlands. Spain. 
Sweden and" Switzerland. 

However, no government has yet 
joined France in committing funds 
to Hermes. French and West Ger- 
man officials said Monday that 
Bonn's financial backing was cru- 
cial. along with important work- 
sharing in the development of Her- 
mes by Messers cnmitt-Bolkow 
Blohm GrubH. West Germany’s 
largest aerospace company. 

“You cannot accomplish any- 
thing important m European aero- 
space without the Germans, mean- 
ing mainly MBR and, for the time 
being, they are staying out of Her- 
mes," said a senior French aero- 
space executive. 


Another expert, Frederic d’Al- 
lesL director general of CNES, said 
he was hopeful that West German 
participation would eventually to- 
tal at least 15 percent 

For more than a year. Mr. <f AI- 
lest bos urged that the European 
Space Agency not only develop its 
own European space station, 
known as Columbus, and a power- 
ful new launcher, Ariane 5. but 
develop them as a package that 
would also include Hermes. The 
first two projects were approved at 
ESA's annual meeting in Rome on 
Jan. 31, but ESA declined to en- 
dorse Hermes and France proceed- 
ed on its own 

“Hermes, unlike other projects, 
has not yet been Europeanized, and 
until it is, the project is literally not 
off the ground." said a French in- 
dustry executive. 

Commenting on Bonn's reluc- 
tance to support Hermes. West 
German government officials said 
that there were no funds available 
in the 1986 budget and that West 


Germany was already committed 
to playing the leading role in Co- 
lumbus, whose costs will exceed an 
estimated $2 billion. 

“ESA projects currently repre- 
sent about 180 million Deutsche 

marks ($69.2 million) in our budget 
and we arc not in position to start 
new prqjecu now." said an official 
rn the ministry of research and 
technology. 

Several West German diplomat- 
ic officials expressed reservations 
about the possible future duplica- 
tion of roles of Hermes and the 
space shuttle of the U.S. National 
Aeronautics and Space Adminis- 
tration. The officials also cited the 
possibilities that France may be 
planning a military role for Her- 
mes. 

Britain, already working on a 
space launcher known as Hotel 
that some say could supercede the 
Hermes/ Ariane 5 launcher in the 
year 2000, has not made a firm 
commitment to participate in Her- 
mes, British officials said Monday. 


Est.Satn L7V8 Prev.Saies 6433 
I Prev. Day Open Int 32400 up 150 


Season Season 
Htoti Low 


Open- NWi Low Close On. 

Groins ! 


WHEAT (CBT7 „ „ ... 

^"■srsrasnMi 

! iST* Z84 Wav §5 ivo 

L72Wi 243 Jul 248 7MH. 

I 145 247 Sob 2*0to 190 16 

IMP* 2.94V, Dec 

Est. Sates Prev. Soles 8556 

ptw. Oay Open In*. SC7 24 off 477 

corn ion . . , 

5400 bu minimum- datlors Pgr buataH 
2.9S 114'* Dee 221 222 



111 XMtt +AJ 

3.17W urn -fjont 
UBH low 
IBM 247 —ill 
IBS 239 — am 

100 —40% 


197 1241* Mar 134 235 

i 2.91V, 131 Wav 24#V* 242 

184 233 Jul 143% 144 

170 124'A Sea 133% 233% 

ZJSVr 2231a Dec 228% 229 

2241* 135 War 237!* 2371* 

EiI.SoIh Prev. Sates 34*72 

I Prev. Dav Open in. 12*229 up 54B 
I SOYBEANS tCBTJ 
5300 bu mini mum- dollar* ner bushel 
I *48 *971* Nov 5*6 5*6 

627 5.11 Jan 5.181* 5.19 

742 5221* Mar £321* 3321* 

729 541 ’u May 542<* 54Mt 

*58 *3414 JUI 54914 5J01A 

*74 535*4 Aug SA9 *49 

*28 *32 Sep 5391* *391* 

*32 *27 Nov 547VS 538 

*43 *401* iOn *491* *491* 

I ESI. S«es Prey. Sales 2MJ4 

Prcv. Day Open in*. 71433 up i<774 
SOYBEAN MEALCCBTJ 
1 m tons- dollars par fort 
1KL50 12230 Oct 14*30 14*30 

18*00 12*40 Dec 14*00 14*00 

14340 127JS3 Jan 14*80 14480 


REAL ESTATE 
TO RENT/SHARE 

PARIS AREA FURMSHED 

TRIhOTE 325 09 29 

Mayiifiusil 4 rooms, sauna F7500 

EXCBTOMAi PORTS D'AUTBJIL 
lorge duple, an private garden. S 
bedrooms, 4 b mUumns , free now. 
Short term possible. Tel 256 3000. 

3rd PLACE DCS VOSGES. 120 tqjn, 
quiet, sun, my comfortable. Dec. to 
July or shorter. USSISD0 cP included 
Tet 271 80 58 or 565 B3 10. 

14 KMS SOUTH PARK, 300 sqja 
beautiful vila, 4 bedroom. double 
roerrfron, largs garden, id comforts, 

naffied price. Teb229 53 98. 

MAKE YOURSELF AT HOME. 7 days 

to 3 months tn FVris 1 4th end :5th, 14 


INTERNATIONAL CLASSIFIED 

(Continued From Beck Page) 


LOW COST FLIGHTS 

NY ONE WAY $150. Evwvdov N.Y. - 
West Coast 5145. Ptxis ZZ5 W 90. 

HOLIDAYS & TRAVEL 


GENERAL 

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mUfcaurpoK cm par ol e & weather 
I modnanon 1*4. USFAA refine 



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pabs m 225 m 44 

CANNS/NCT jW) 39 43 44 

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MUNCH J089) 93 10 45 

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NEW YORK era 495 706) 

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AUTOS TAX FREE 

MERCEDES SPECIALISTS 
FOR USA + MIDDLf EAST 

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1985 Mobil a» Discount price* 
280 SI, 280 SCL 500 SEL 500 SL 
1986 Medeb hem Stacie 
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Shifxneta & delivery worldwide. 

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PORTUGAL 

7 DAYS INCLUSIVE TOURS 

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USBON FF2700 

E5TORH7 CASC AI5 ... 1928 lO 

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ALGARVE FF28143 

MADBRA FF2980 

nett* Contact: 

Paris Tel: 742 55 57, Tbu 220550 


2JBJ4 +*094 
133%. +30*. 
2MH. +jxm 
2431* +J0DU 
2J1W —61 
2271* — JHU, 
2341* — 31V* 


5JJ4V, +jb» 
5. IB +jmc, 
*32 +30VS 

*g^ + «W 

SMVi — jdSS 


14230 14330 — 130 
14330 14*40 —120 
144® 14*50 —150 
14*70 U730 — 1J0 
148JD0 14*40 —130 
14930 150-10 — .9D 

14920 —30 

149 JO 15030 —JO 
14*50 14*50 
14930 149 JO 


1935 19J0 
19.12 1939 
1931 19JB 
1920 19.97 

20J07 3*35 

20.45 3fl*c 

mss 202] 

2*45 2*40 

2*40 2240 


OATS (CBT) 

5JJOO bu mimmtwn- do) tors oer budiei 
1321* l.lff* Dec 1.16* 1-MK 1-U 1.1 5> —30)* 

13714 1341* Mar 1.25* L2Skk 1341* J24J. —JOOto 

1.63 1271* Mcy 131 131 130Vi 13101. —JIM 

137 124 Jul 130*1 13M4 130W IJOT6 -30ii 

129 129 Sep 13S*j — JOOVs 

Est. Sales Prev. Sales 236 

Prev. Day Open int. 3394 up 53 


CORFU CtMYCSCRl 

a ®SP B ' 14*00 14*40 
14925 12*50 Mar 14*40 14*70 

14030 1X130 way U7J0 M7J5 

14830 13*50 Jul M3S U825 

147*7 13275 Sep 147 JO 1 47.50 

14730 13830 Dec 14730 14730 

14530 142JD War 

Eto. Sotos Prev. Sates 1212 

PrryJJavOpen InL 1*293 UP 45 
SUQMHOItUI It (HYC5CE) 

112fi®0 Ibfc- cents per lb. 

725 230 Jan *88 439 

933 334 Mar 534 5.45 

7.15 3J8 May 553 SMI 

*39 329 Jul 521 528 

*60 434 SCP 352 522 

*95 432 Od *04 *11 

735 *25 jen 

735 431 _ War *67 _620 

Est. Sales 


20650 13000 

16250 13250 

16730 13*09 

15050 13550 

16730 13750 

14950 14030 

15030 14230 

Est. Sales 


13000 Mar 14830 14U 
13250 MOV 15030 150.C 
13*00 JUI 15050 1513 
13550 Aub 

13750 Sep 15150 15IJ 
14030 Od 14850 149J 
14230 Dec 14920 1505 
Prav. Sales 11346 


CV.NICS rrw .aw ca ■■■«■ 

Prev. Day Open Int. 42333 ua6M 



FROM ZURICH TO; 

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„ ■ __ . ^ . . , Buenos Aires: 41 40 31 

Pteis: (For dassified only): (Dear. 3131 

747-4600. Caracas: 33 14 54 

Guayaquil 51 4505 
BIKOPE Lirw 417 852 

‘ Pom o na . 6905 II 

Amsterdam: 26-36- IS. gflL 

Admm: 361-8397/3602421. Stota8521W3 

Brus e h: 343-1899. 

Copenhagen: pi) 32 V44U MIDDLE EAST 

Frankfurt: {069} 7267-55. Bcftra Iw 346303. 

LaasteWte 29-58-94. KuwaWi 5 614485 

Usbom 67-27-93/ 66-25-44. SSTTlSIs. 

London: (01) 836-4802. Saadi Arabia: 

Madrid: 455-2891 /45S3306. Jeddcft: 667-1500. 

MB*** (02) 733)445. U^X: Dubai 224161. 

Norway: (02) 41 29 S3. FAR EAST 

Bangkok; 390-06-57. 

Sweden: (06] 7569229. Hong Kang: 5-213671. 

Tel Aviv: 03455 559. Jdavta 510092. 

Vienna: Contact Frankfurt. Mf«B* 817W 49. 

Seoul: 735 87 73. 

UNITED STATES 25/9. 

Tokyo: 504-1925. 

New Yo*pi2| 752 3890. AUS1RAUA 

West Goaeh (415) 362-8339. == — — 

MeRwome: 690 8231 
Sydney: 929 56 39, 957 43 20. 
SOUTH AFRICA Pted^ 32898 31 

Paddinglan, Queensland: 
Bryoratan: 421599. 369 34 51 


CATTLE <CME> 

4*000 ibs.- amb per lb, 

675S 5540 Dec UBS 04 

67^5 5*35 Pefi 6140 6257 

6757 55J0 Apr 61J7 6112 

6*25 5*25 Jut 6225 6125 

65.40 5520 Aug 6020 6028 

6020 58-10 Oet 58.541 5920 

Est. Sales 1*983 Prey. Sates 1*769 
Prev. Day Open Int. 36207 up 1573 

FEEDER CATTLE (CME1 
4*000 lbs.- cents per Ip. 

7320 58.10 Nov 6*70 47.10 

7950 6®50 Jon tSM mss 

7120 6052 Mar 69J0 69.75 

71.00 6050 Apr 6855 6825 

7040 6*10 Mov 6725 67jt0 

6850 65.75 Aug k7-»1 67 M 

Est. Sales 1238 Prev. Sales 1.HM 
Preu. Day Open Int 9571 up209 
HOGS (CMC) 

30400 it*.- cents oer lb. _ 

5085 3*35 Dec MAS 4747 

5047 38.10 Feb 45.45 4*17 

4725 3*12 Apr 41 JW 4122 

49J15 3950 Juil 43L30 4357 

4955 4045 Jul 4*27 4455 


Est. Sates Prev. Sates 142S2 

Prev. Day Ocen Int. 77297 pH 313 
COCOA U4Y CSCE) 

10 metric tans- S pot tun 

2337 1945 Dec 2197 2203 

2392 1955 war 2271 2Z7T 

2422 I960 wav 3321 

242? IfiSS Jut 2350 2 3m 

! <30 2S23 5UP 2365 2370 

2425 3055 Dec 2J60 23&S 

Est. Sales Prev. Sates 1595 

Prev. Day Open InJ. 20578 off 147 
ORANOe JUICE (NYCE) 

TBtOO^ TT7^ P#r p£v 11*25 11850 

iss m Amm- 

14050 111-95 May 11450 11550 

157.S2 111.40 Jul 11350 114JD0 

1BQ50 11150 Sep 11250 11250 

11150 11150 Nov 

Jan 

16155 11350 Mar 11150 11150 

Est. Sates 309 P rev. Sates 324 

Prev. Dav Open Int 5.134 up 131 


1 Metals 

COPPER (CO MEX) 

25500 lbs.- cents per lb. 

*1J» 5*45 Oct 

60*0 ©160 NOV 

8*23 5850 Dec 6225 6230 

B4J0 5*75 Jan 

8000 5930 Mar 6200 6290 

7*60 MUW May 6335 6335 

74A0 6035 Jul 6343 6L45 

7090 6090 Sep 63A5 63*3 

7030 6150 Dec 6*33 6*40 

7030 6330 Jan 

§ 90 6255 Mar 6450 6450 

M 6290 May 

4* sn nu jul 

Est. Sales Prev.Sates *3(2 

Prev. Day Open Int 77JB9 up 469 
ALUMINUM f COM EX} 

4*000 Kxb- cents Per lb. 

per 

Nov 


63.10 65JS 
6*20 6553 
6633 6*70 

44 <n 4U7 
44*0 64*0 


14210 14356 
14535 145.96 
14*15 146*0 
14*73 147.10 
M7J» 147 JO 
14260 W3B 
14*33 


*88 *95 

334 *39 

153 *56 

*70 *71 

*90 *92 

*04 6DB 
_ *47 

*67 *70 


SSK" 0P« Htoh to* ctw 

74-24 56-23 Dec T240 

£2 S£w 5 ST W-20 W-22 na 

72-55 6>4 5#P BV-'D 

72-1* tA-23 

, JJL r* fis. ** ** 

Prev. Dav Orem int 37U67 uP IrWS 
^^7mS>otoA3g»*NTOPCt ^ 

i P!j?f bw 

Est sales Prev. Sales ns 
pfevloay Open Int. *0*3 «*« 

CERT. BEPOMTt IMM» 

; -af"HTs W IfS SS ffK 

ss h e if 

Prev. Dcnr Open Inf. lASSctlZi 

IMM) 

Sc *1*7 91*1 9L76 

S£ 9*47 9148 ^.44 9145 

Job 91.1? «.» 

g sss ?£2 Sg S3S 

gf m m 

sS 09^ 8942 0940 
- EM.Sotoe li>24 Prvv 
Prev. Dav Open Inf.lZSAW «»» 

BRITISH POUNOCtMM» mnnB , 





2163 2171 

2297 2302 
2325 2341 
2353 2360 
Z3S5 2359 


11740 11*10 
11*03 11*80 
11*33 11*95 
11448 114*0 
11350 11X50 

hub nun 
nun 
nun 

11150 11150 


fau. *M8 prev.Saies W«l 
^^DwCtoe^Int. 27407 UP43S 

CANAOIAM DOLLAR fUUU 
S per dtr-1 point saualssicnoi 

3566 JU06 Dec -Tg? *** iS 

3304 4901 mot J32S .7325 J330 .7H0 

. 3360 3B» Jun Hiff 

mi 7774 Sep J**" 

est. Sotos S59 Prev. Sates 861 
^y!D&OPMlirt74404 off 140 
PRENCH FRANC (IMMJ nnnm 

:!iuS :BS 55T 38 

Est Sates __ Prev. Srtes 
prev. Dav Open Int 138 
GRRMAM MARJCUMJW 

*^r rt i5?! nt ‘sr» jg; « 

3898 J04Q Mar 5*55 3861 5540 584? 

391* 333S Jun -» 

3920 3742 Sep ” . 

E*M« 1*5M Prev.Saies 14476 
Prev. Dav Open Int. 4*116 u»249 
JAPAMRS EJTgNUMJM 

JNH765 *04230 Jan - ■“**** 

®i705 Sep JB4732 

TibSE AHA M *04739 

Est Sales 10*17 Prev. 10.117 
Prev. Day Open lot. 42333 otf U4 
SWIM FRANC (I MM) 

“STfS 1 * 1 -sg -SE ts 

, SS 38S'5Sf SS 35, ™ X 


—16 


6473 65.10 +35 

62*2 62.15 — .15 
6140 6145 —37 

6145 6170 -40 

SS 38 -% 


66J0 6*45 +JD 
6*95 69*5 — 30 

69JB m.m —A3 
6830 6*55 -.15 

67*5 67.20 +*5 

6740 6740 —35 


4*35 4*00 MilO 
4535 4530 *+30 
4090 4150 +30 

43.15 4347 +47 

44*0 4440 +33 




Gurency Options 


Oct JB 

PHILADELPHIA EXCHANGE 
Option « Strike 

Underlying Price Calls— u»t Puts— Lad 

Nov Feb May Nov Feb May 

12400 British Pnmdxnati per unit 
B Pound 135 r S s 050 s 

142*1 140 345 S S r S 

142*1 145 ' 130 S S r S 

143*1 ISO 035 S S r S 

62400 west German Marta-cmt* PW untf, 

Dnnarfc 37 138 5 s 034 s 

3*03 38 MS 9 S 056 S 

38*3 39 8L29 S S r S 

6350*00 Jc n wnwe Yen-lOOltis ufu cent per uoW. 
jYcn 45 r s s *14 c 

, 4*54 46 r 3 s *47 s' 

4*S4 47 050 s s r 9 

4654 40 S--2 Sirs 

62400 Swiss Fruncs-cents per unit. 

SFranc 46 *95 s S 047 s 

Dec Mar Jun Dec Mar Jan 

12400 British Poondxmt* per unit. 


B Pound 1M r r r *05 r 

142*1 125 1750 r r r MS 

142*1 IX r r r 035 1*5 3.M 

142*1 135 8J3S 950 r TA0 3.10 

142*1 140 455 *45 7*0 240 S.10 730 

142*1 145 2.™ oo sjsa r r 

142*1 150 0*5 270 4*5 r r 

141*1 1 55 r r 2*0 r r 

62*00 wed German Marta-centi per unit. 

□Mark 31 7*2 r r r *03 

3*03 32 *04 r r 0*1 r 

38*3 33 r r r 0*1 *11 

38*3 34 *10 r r 0*5 r 

3M3 35 r r r r 033 

3*03 M IS) r r . *19 *52 

38*3 37 1*6 235 r *39 r 

38*3 3B 1*0 1,71 r 0*0 r 155 

38*3 39 057 158 r 138 r 

*2SMw Jnpawse rett-fMffisaf ■ ce«f pur unit 
JYen no 650 r r r r 

4654 41 *53 548 r T r 

4654 43 r 296 4.40 r r 

4*54 44 r r 370 *16 r 

4654 45 1*6 250 r W r 

4654 46 1 J2 192 - r *71 1*9 

4654 48 *45 1*5 140 r r 

■moo Swiss Fraxcs-eenfs per unit. 

SFranc 37 r r r 0*1 r 

4*33 44 r r r 027 r 

4633 45 198 204 f 0* 1JS 

4*33 46 1JI 2JO r 0*5 152 

4*33 40 050 150 r r r 

Total all vol. 10506 ceil apa Int. 183*27 

Total pat vaL 4595 Put upon Int. 122*30 

r—Not traded. 5 — No option ottered. 

Lad hi premium (purchase prlcul. 

Sourer: ap. 



13*90 — JO 

13950 —JO 
14550 —M 




W 

vrr:- 

—rr 






.TTT 



,\L-. 



■R 


■ 

1 


:ir® 

I 

*. ^ -Bp 

*- __ ■ 

r{-j 

a 

n 

‘fTf 

c S 

(Si. 


h 


SP COMP. INDEX (CMC) 
points a:-d cents „ - 

20*85 .'17570 Dae NATO 187*0 

2D375 18230 Mar 10*18 MUD 

20650 183.90 - Jwi 789 JO I89JD 

193*0 187*0 SOP 19*80 19*80 

•EsLSalm MA74 Prev.Saies 52668 
Prev. Day Open lot 62839 up jxn 

VALUE LINE flCCSTl 

pofailsand cents 

217*5 18*60 Dec 10*50 J9JJ5- 

3D9AO 19050 MOT W5J5 MJQ 

Jun lfT JO 79770 
Est. Sates _ . ' Prey. Soire *668 
Prev. Day Open InL 8,760 UP 239 
NYSE COMP. INDEX (NYPn 

as «E8«* 

as SB 

11220 lotio sen i was mas 

Ed. 5rfes 7JS2 Pnnt Wins JW 
Prw.DayOpen Int. S818-afT417 


Commodity Indexes 


Dose 

Moody's whtd * 

Ranters : 1.70240 

DJ. Futures — NA 

Com. Reseorcti Bureou. NA 

Moodv^ : txne 100 : Doc 31, 1931. 

p - prdlmlrxrrvr f - finol . . 

Reuters ; base 100 : Sep. J8, 1931. 
Dow Jones ; base 100 : Dec 31, 1974 


1062S ll*>0 
187*018*40 

71*25 mJO 

I90*e J9L30 


193*0 793*6 
moo 1*5*0 
197*0 197*0 


HK45 7QU5 
W9J0 l0»JB 
1HU5 1MA> 


Previous 
W9.10T 
1,70170 
11831 
iw« i , 


ESCORTS & GUIDES I ESCORTS & GUIDES | ESCORTS & GUIDES 


INTERNATIONAL 

ESCORT 

SERVICE 

USA & WORLDWIDE 

Head office in New York 
330 W. 56ft St, N.Y.C 10019 USA 

212-765-7896 

212-765-7754 

MAJOR ORBIT CARDS AND 
CHECKS ACCEPTED 

re - . ■ _ »■ i ■ ‘ - ft n,i*TiiIilte 
r II vtrne ireRHOW Eii^jii nvmno 

This re nte d ■uri nnin g service has 
been ft af ared re the tap 8 most 
exclusive Escort Service by 
USA A Uenndond news medn 
indwfing rode ok! TV. 


* USA & TRANSWORLD 

A-AMERtCAN 

ESCORT SERVICE. 
EVKYWHERE YOU ARE OR GOt_ 

1-813-921-7946 

Cofl free from 1-800-237*892 
Gd free from Florida: 1-800-224892. 
LowHi Enstetn re l eom w you bodd 


AR15TOCATS 

tendon Escort Service 
120 Wigaree St_, London W.l. 
Al maiar Ciedl Cards Accepted 
TeL 437 47 41 / 4742 
12 noon ■ midnight 


HEATHROW 

★London Escort Agency* 

01-609 2870 


CAPRICE-NY 

ESCORT SBtVKE IN NEW YORK 
TEL: 212-737 3291. 


MAYFAIR CLUB 



Cmnmmfities 


GENEVA * BEAUTY* | 

ESCORT 5ERVKE. 022/29 51 30 


GGNEVA ESCORT 

SSIV1CL Id: 46 11 58 


CHOSEA ESCORT sanncE. 

51 Beouchtxflp Place, London SW3. 

Tet 01 584 6513/2/49 [4-12 pm] I LONDON ESCORT SBtVICE. Tub 937 

6574. 


ATHBC BCORT AND GI8DE Ser. 
vice. Tut B086194 




GUBEj SStVKZ fran 5am 
ROTTSDAMiO) 10-254155 
THE HAGUE (O) 70-60 79 96 


ZURICH 

CokAm Es cort Service 
Tut 01/252 61 74 



LONDON 

BELGRAVIA 

Eseort Sendee. 

Tel: 736 5877. 


Poriman Escort Agency 

67 ddbuRi Staet 
tendon W1 

Trtb 486 3724 or 486 1158 . 
A* motor mdtt earth ocee p ted 


ZURICH 


ALEXIS ESCORT SBtVKE 
TEL 01/47 55 82 


ZURICH-GENEVA 


IHi 01/ 363 08 64.022/3441 86 


* JASMINE * 

AMSTERDAM ESCORT SBtVICE 
020-366655 




* AMSTERDAM SHE * 

ESCORT 6 GUIDES- 020-227837 


******GENEVA BBT 

ESCORT SBtVICE 022 / 86 15 95. 


•• G&EVA-HRST *« 

Escort Sonde* Tel: 022/32 34 18 
+ Wasfaand + Travel 


★MADRID PRIVATE* 

ESCORT SBtVICE. 268 24 98. 


SNTBMATIONAL 
ESCORT SBtVICE 
LONDON. Tvt (01) 486 86 78. 


VIENNA KCORT - AGENCY 
TR: 37 52 39 


LONDON TOP BCORT SBtVICE 
Heathrow. American Express. 3S2 8343 



* LONDON * 

EXECUTIVE ESCORT SERVICE 
402 0105 or 499 2225 


MADRID INT'L 

ESCORT SBtVICE 
THj 2456548. CREDO CARDS 


Tel: 2509603 >»*»•* 
BOOST 5E8VYGE. CRH3JT CAROS 


GENEVA - HBB4E ESCORT 5BWKX 
Tafc 36 29 32 


LONDON GENJE BCOKT Service 
Td- 370 7151. 






Oct 21 




Close 



High 

Low 

BM 

Ate 

Wee 

SUGAR 






. 1 French Irena per metric tan 



Dec 

1437 

1430 

1426 

1440 

— It 

Mar 

1450 

1-330 

1447 

1449 

__ 7 

- May 

1480 

U70 

1475 

1484 

5 

Aug 

1419 

1419 

1413 

1434 

_ 7 

- oct 

N.T. 

N.T. 

1435 

1450 

5 

Dec 

N.T. 

N.T. 

1453 

1475 

■—4 


Est, vol.: ISO lots of 50 tons. Prev. actual 
sates: US* lots. Ooen Jnlerest : 23*45 
COCOA 

French Irenes pot lea ita 


ComnMMiities 


HONG-KONG GOLD FUTURES 
U*S perereae 


Hloh Law Bid Ask Bid Ask 
Oct _ N.T. N.T. NA NA 335*0 327*0 

NOV _ N.T. N.T. — — 

Dec „ N-T. N.T. — — 

Fob _ N.T. N.T. — — 

ADI _ N.T. N.T. — — 

Jun _ 344JTO 344*0 — — 

Ana _ MM MU — 

Volume: NA lots of 100 a* 




London 

Commodifies 


H 



Dec 

1.445 

1.940 

1,940 

1.449 

— 12 

Mar 

I.TO 

1.965 

1.963 

1.965 

— 20 

Mav 

N.T. 

N.T. 

1.990 



JIv 

N.T. 

NT. 

1.995 




Sop 

N.T. 

N.T. 

2*00 

re* 

— 10 

Dec 

N.T. 

N.T. 

— 

2*30 

-20 

war 

N.T. 

N.T. 

raw 

2*30 

— 15 

Est. vol. 

9 kjlsof ID loft&.Prtrv. actual solera: 

9 lot*. Open Interest : 561 




COFFEE 






French francs per 100 ka 



Nov 

N.T. 

N.T. 

1*48 

1*70 

+ B 

Jan 

N.T. 

NT 

1*93 

1.917 

— IS 

MOT 


N.T. 

1.935 

1.965 

— 2 

May 

N.T. 

N.T. 

1,978 

1*90 

-3 

JIv 

N.T. 

N.T. 

1.982 

2*20 

— 10 


2*30 

2*30 

2*25 

2*35 

+ 10 

Nov 

N.T. 

N.T. 


2*60 

+ 20 

Est. vol.: 

9 lots ot 5 tom. Prev. actual sales: 5 

1 lots. Open inierosl: 282 




1 Source : Bourse du Commerce. 










SINGAPORE GOLD FUTURES 
UAS per ounce 

Prev. 

_ Htoh Law Seme Sortie 

Od N.T. N.T. J2M0 326MB 

Dec 331*0 325 J® 329.40 i(?M 

Fob — ■ ■ N.T. N.T. 33340 33340 

Volume: 64 tots of 100 re. 

KUALA LUMPUR RUBBER 
Maiayslao cents ner tOJo 

Close Previous 

8M Ate BM Ask 

Nov 164*0 185*0 1B5JH 184*0 

Dec 1*5*0 186*0 1*540 ItMB 

Jan 188*0 1W*0 18150 1894* 

Feb 1*9*0 190JD 190*0 191*0 

Mar 190*0 191*0 19040 19140 

Volume: 4 lots. 


flb. 21 

Ctose Preview 
High Low BM Ate BM Ate 

SUGAR 

S t er tte u n erwetrlclew 
Dec 135*« 134*0 134*0 135*0 13440 13540 
Mar 144*0 14240 14240 14340 143*0 14X40 
Mar 14840 146*0 U7A0 14740 14640 14640 

» 154*0 iltiD me 15340 15240 153*0 

19940 139 JO 15820 19940 15820 15840 
Volume: Ml lots of 50 tuns. 

COCOA 

. Sterling per metric tan 
Dec 1,710 1493 T4M 1499 I JOS 1,706 

Mar U50 1JM 1J2B 1J29 1J51 U52 

MOV 1-776 U55 1J57 1J* 1J80 1JB3 

JIV 1798 L700 1.778 1J*2 1*04 1*05 

SOP 1*09 1J94 IJ97 1J99 1*13 1*30 

Dec 1J99 L794 L794 1J9S 1*00 1*01 

M re N.T. M.T. 1*00 1*10 1407 1*10 

Vatome: 34B6 tola of 10 tore. 



HSi&lIlfl 






■Mssmm 


iEiMzSBEii iSi 




S&P100 
Index Options 


Strike Cofla-Lmt Puts-Lan 

Price Oct Nor Dec Joi Oct Nn Dec tea 

US 1/Vj — — - - mi l« 5116 

in e 17 174 - - 4i n tvn. 

IB ft W H 9: 1/16 >k IVk 11k 

in mu, n n ins jj/uj n, 

US 1/16 L !*■ ?5t 3'6 5H S*. IMt 

WO - Cl 9/16 - tHl n> - 

196 — 1/16 - — — U — — 

Total aO TtlonM S*!D1 
Total ere 0 SB tat 64229? 

Tefal pal Mima 12*77 
Total Ml sees M. 737481 

lodex: 

Hick ism Low 1113# Oan aiit— am 
Source: CBoe. 


DM futures 

Options 


SINGAPORE RUBBER 
Stoereore cunts per Id la 


RSSlNnv- 161*5 I6IJ5 
RSS1DCC- 16L75 16125 

RSS2Noy. 153*0 156*0 

RSS3NDU- 151*0 152*0 

RS54Nav- 747J® mJB 
RSS5NOtf_ 143*0 144*0 


prevtare 
BM Ask 
161*0 162*0 
16Z75 1632S 

153*0 IS4JM 
151*0 152*0 

147*0 14MB 
142*0 144*0 


COFFEE 

Storltoa per metric ton - 
NOV 1472 1*53 1455 1457 1*70 1471 

Jan 1*02 ted 1*95 1497 1,708 1,710 

Mar 1J44 1,728 1^27 1J» L748 1J» 

MOT 1^75 1J63 1/755 1J63 1JB0 1J83 

J|y lAH JJta ,1794 U95 IJT0 1*00 

Sen 1*15 1*00 1*10 1*15 1,780 1*05 

Nov N-T. N-T. 1*00 1*50 1*00 1*65 

Voiume: 2464 tots of S tons. 

GASOIL 

U*. dalkn par awhie tan 
MOV 257*0 286*0 256*0 2S62S 2574525740 
MC 254*5 234*0 25445 2S4JU 254*5 295.0Q 
Jan w in wn c ni « m<n 

Feb 249 J5 249*0 249J5 25040 25825 250*0 
MOT 24240 241.75 242*0 H240 34250 24340 


KUALA LUMPUR PALM OIL 
Mb torsion rlDMlts per 25 tore 



London Metals 


W. Gtrmm Mart -auto marts, ants acr a 


STUTTGART-UZA BCORT - Trewl 

wnnee. 071 1/84 39 98. 


LLS-Treasuries 


Otter BM YUM Ylrtd 
3-mnnHi MU 720 1.18 744 749 

6-tmMibMH 744 747 740 748 

1-roar bin 742 740 747 746 

. Pie*. 

BM Otter Yield Ytole 

38-year bond 101 23/37191 27/32 1842 W45 

Sourer: Salomon BrHfln. 

MerrlU Lyacb Treasury Mex: 19*4 
Change lor tlw Ovir; +843 
Avaravs ytaM: 9*2% 

Source: MemB LyntM 



B'rr.'i 

It r,*.1 

g-Tl.-l 




pjSi 

|.,:Wi I'l'.l 1 W‘ ' ta, JM 






K ---4 - 1 














TLallJt 


Ere ' BN * ao *” rtY; ■» w te i ta r i y/ s-oreu. 

Source: UPI. 


Sa^OSProdociMm 

Es^ected to Increase 

The Aaonaxed Press 






















































































jfef. 




BUSIHESS KOIIHDUP 


jnSTEKNATlONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 


Page 13 



Creditor Banks in Japan 
Offer Sanko New Loans 




*NL 


-.4 
— * 


T5f 


Jtfttfos 

, T p KY0 — Japanese creditor 
banks of Sanko Steamship Co 
hai-e ^eed t° supply 20 billion 
yen ($93 ratHioii) m new loans to 
the comply banking sources said 
Monday. Sanko sought court pro- 
tection in August with debts of 520 
bukonyen. 

Daiwa Bank Ltd., Tokai Bank 
Ud. and Long-Tenn Credit Bank 
of Japan Ltd. will extend the loans, 
part of about 31 billion yen 
Mitsuxnde Miyata, appointed by 
Tokyo district court to handle the 
company’s affairs, estimated it 
needs by the end of its business 
year on March 31. 

On Sunday, the Japanese eco- 
nomic daily Nihon Keizai said Mr 
Miyata believed that Sanko could 
survive even if it receives no loans 
from trading houses that are in- 
volved with iL 

Banking and trading-house 
sources said Mr. Miyata would 
probably present his report to To- 
kyo district court bv the end of 
October. After receiving the report, 
the conn will start full hearings and 
later will decide vghetber to appoint 
a receiver to reconstruct the com- 
pany or to order its liquidation. 

Bank officials earlier bad said 
they were writing off a major part 
of outstanding loans to Sanko. an 
estimated 233 billion yen, by the 
end of the first half on Sept 30. 


But nine Japanese trading 
bouses that financed construction 
of about 100 energy-saving bulk 
earners for Sanko refused to ex- 
tend new loans of about 11 billion, 
yen to Sank o that Mr. Miyaui 
requested. 

■ Orders Detfme 

Foreign shipbuilding Orders re- 
ceived by Japanese yar$ in Sep- 
tember fell to 50,460 gro5s tons for 
seven ships, from 395,000 for 16 
ships in August and from 203,050 
for six ships in September 1984, the 
Japan Ship Exporters Association- 
reported Monday. 

The decline in orders since Au- 
gust means the backlog at the end 
of September of foreign orders at 
Japanese yards was 7.63 million 
gross tons for 310 ships, a decline 
from 7.82 million gross tons for 318 
ships at the end of August and 
11.88 million for S39 ships a year 
earlier. 

The lowest foreign-order back- 
log in the past 10 years was 4.5 
million gross tons for 231 ships at 
the end erf April 1979. 

Chinese orders so far this year 
total only 6J2 milli on gross tons 
because of congestion in Chinese 
ports, the industry sources said 
'Hie congestion means China is un- 
likely to increase orders this year 
and orders next year could fall to 
about 6 million tons, they said. 


Chrysler Workers in Canada Vote 
To End Strike Over New Contract 

Compiled by Our Staff From Dispatcher 

TORONTO — ■ Chrysler Corp. workers in Canaria voted Monday 
to end a strike and accept a contract their union leader hoped would 
help settle a walkout by 70,000 U_S. Chrysler employees. 

Robert White, leader of the Canadian United Auto Workers who 
pulled his members out of the Detroit-based UaW, said the 23-month 
pact, reached after be returned from a private meeting in New York 
with Chrysler’s chairman. Lee A. lacocca, was historic because it 
marked the first time a major U.S.-based automaker had settled first 
with Canadian wodtets. 

*11 shows that die companies, contrary to their response when we 
first made the decision to jgo our separate way, have accepted our new 
national union,” Mr. White said. 

The pact brings 10,400 Canadian Chrysler workers to parity with 
those at General Motors of Canada Ltd, and Ford Motor Co. of 
C a n a da LuL, raising hourly earnings to SI 1.12 by the Sept 15, 1987, 
expiry from about $10 under a contract that expired when the strike 
began last Tuesday night. 

But Chrysler officials say resumed Canadian production will be in 
danger erf curtailment if there were so U.S. settlement because the 
assembly plants in Canada require parts from the United States. 

(UPI, LAT t Reuters) 


Beatrice Board Rejects $4.9-BflIion Leveraged Buyout Bid 


By Steven Greenhouse 

New York Tuna Service 

CHICAGO — The board of Be- 
atrice Cos. has unanimously reject- 
ed a $4.9- billion acquisition bid 
from Kohl berg. Kravis, Roberts & 
Co„ the leveraged buyout special- 
ists, 

After a meeting Sunday, Beatrice 
directors concluded that the 545-a- 
sh are offer, which was made last 
Wednesday, was “inadequate and 
not in the bat interests of Beatrice 
shareholders,’ 1 the company said. 

The Chicago-based food and 
consumer products company said it 
believed the best way to achieve 
value for the shareholders “was not 
through a leveraged buyout or any 
other type erf buyout at this time." 


According to Wail Street 
sources, several Beatrice executives 
sought to pui together their own 
buyout offer after Kohl berg, Kra- 
vis bad made its bid. The Beatrice 
insiders were said to be working 
with Goldman. Sachs & Co., the 
Wall Street investment house, to 
assemble their bid. 

Sources close to both sides said 
the Beatrice board’s statement re- 
jected any efforts by Beatrice offi- 
cials to put together their own bid. 

The board said Beatrice should 
remain independent, continue to 
develop its brands and proceed 
with its restructuring — which in- 
cludes selling some non-food oper- 
ations and its Avis car-rental oper- 
ations. 


A successful Kohl berg. Kravis 
bid would have represented the 
largest leveraged buyout in history. 

In a leveraged buyout, an invest- 
ment group typically finances the 
acquisition of a company’s out- 
standing shares with borrowed 
money, using a company's antici- 
pated earnings, or liquidation pro- 
ceeds, as collateral. 

Some Wall Street sources said 
they doubted that the Beatrice 
board’s move would cause Kohl- 
berg, Kravis to give up. It could 
sweeten its bid, which was S40 cash 
and S5 in preferred shares for each 
common share, or make a tender 
offer directly to shareholders. 

In recent weeks, the share price 
of Beatrice had risen 510. It dosed 


on Friday on the New York Stock 
Exchange at S46. 1 225. 

Investment analysts said Be- 
atrice was an attractive target. Even’ 
though many of its operations do 
not mesh -well, Beatrice has many 
strong brand names: Hum tomato 
sauce, Wesson vegetable oil, Peter 
Pan peanut butter, Tropicana or- 
ange juice, Playtex apparel and 
Samsonite luggage. 

What is more, Beatrice has the 
Hunt-Wesson distribution net- 
work, which it acquired last year in 
its purchase of Esmark Inc. 

Some Wall Street sources say Be- 
atrice is an easy takeover target 
because its performance should be 
easy to improve, while others see 
the chance to moke money quickly 
by selling off some of its pieces. 


Daunler’s Plan to Buy AEG 
Reflects Hopes of Diversifying 


COMPANY NOffiS 




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British Petroleum Co. is arrang- 
ing $1 3 billion of seven-year com- 
mitted lines of credit and about S5 
billion of seven-year uncommitted 
lines of credit, a company official 
said. The financing program will 
replace an existing credit. 

Drestfeier Bank AG said it ex- 
pects record net profit in 1985. A 
management board spokesman de- 
clined to give figures but said the 
earnings improvement would be 
achieved despite a slight decline in 
the bank’s interest margin to the 
current 2.6 percent from an average 
2.7 percent in 1984. 

Eastman Kodak Co. is seeking a 
listing on the foreign stock section 
of the Tokyo Stock Exchange. A 
Kodak board meeting in early No- 
vember is expected to endorse a 
listing plan before the company 
formally applies for Japanese au- 
thorities’ approval. 

FAG KngetfBcher KGaA’s sub- 
scription period for shares was 
closed Monday on the first day 
after very strong demand, accord- 
ing to the underwriter, Bayerische 
Veremsbank. The company was of- 
fering 80 million Deutsche marks 
($30.4 trillion) of its 165-miIbon- 
DM capital to the public. 

Japan I «»™»g Corp.. leading a 
Japanese consortium, has signed an 
agreement with Siderurgia Na- 
tional of Portugal to update a sled 
plant near Lisbon. Siderurgia will 
buy the plant and equipment the 
consortium will install for 30.9 bil- 
lion yen ($144 million). 

The Limited Inc. women’s appar- 
el chain will acquire Henri BendeL, 
a New York clothing store, for an 
undisclosed amount. Limited’s 
chairman, Leslie Wexner, said be 
would consider expanding Ben del 
from its single store and expanding 
its mail-order business. 

MG Conwmtnk-ations Corp. has 
signed a definitive agreement with 
International Business Machines 
Corp. to buy IBM's satellite sys- 
tems unit IBM will sell the unit 
and make $400 trillion in invest- 
ments in MCI between Sept. 1, 
1986, and Dec. 31, 1988, in return 
for 16.6 percent of MQ's outstand- 
ing stock. 

Mostek Malaysia BHD said it is 


unlikely to shut its Penang plant 
for several months despite the deci- 
sion by its parent. United Technol- 
ogies Corp., to dose all Mostek 
operations. The Malaysian compa- 
ny said existing commitments ne- 
cessitated a gradual shutdown. 

Prime Computer Inc. has intro- 
duced the new 2655 super-mini- 
computer, which it said has 50 per- 
cent more processing power than 
the predecessor 2550 at the same 
price, $90,500. The computer has 
four mifil on characters of memory. 

Procter A Gamble Co. said the 
waiting period for its cash offer for 
Richardson-Vicks Inc. common 
stock expired Friday without a sec- 
ond request for information by the 
Federal Trade Commission. The 
offer is scheduled to expire Nov. 1. 

Renault workers at the compa- 
ny’s BOlanoourl plant near Paris 
returned to work Monday, ending a 
12-day strike. Bfflancourt was the 
last of tbe government-owned 
group’s plants to resume produc- 
tion after the strike,- protesting a 
cut in year-end bonus payments. 

Sumitomo Metal Industries Ltd. 
of Japan Jias signed, a contract to 
help: improve productivity at the 
Taiyuan Iron & Steel Corp. mill in 
China’s Shanxi province. Tbe con- 
tract value was not given. 

Toshiba Corp. will start mass 
production of one-megabit dynam- 
ic random access memory drips 
next year. 

Bristol-Myers Reports 
12% Increase in Net 

Reuters 

NEW YORK — Bristol-Myers 
Co. said Monday its third-quarter 
earnings rose 12 percent to $149.9 
trillion, or $1.09 a share, from 
$133.6 million, or 98 cents a share, 
a year earlier. Saks rose 10 percent 
to $1.17 billion from $1.06 billion. 

For the first nine months, tbe 
company's net increased 13 percent 
to $400-5 million, or $2.91 a share, 
from $354.7 million, or $159 a 
share, a year earlier. Sales rose 5 
percent to S3J3 billion from $3.17 
billion. 


New York Tuna Service 

BERLIN — Last week’s an- 
nouncement by Daimler-Benz AG 
that it had bought 24.9 percent of 
AEG AG and would seek control 
of the electronics company is the 
latest step in a diversification pro- 
gram to reduce its dependence on 
automotive products. 

The AEG takeover bid marks the 
third major move in recent months 
to put Daimler-Benz in tbe field of 
high technology and to assure fu- 
ture growth despite sluggish sales 
of its Maudes cars and tracks. 

In March, Daimler-Benz an- 
nounced that it was buying a ma- 
jority stake in Domier GmbH, an 
aerospace company, and in May it. 
said it would acquire control of 
Motoren und Turbinen Union 
Gmbh, a maker of aircraft engines. 
Similar moves into high technology 
have been made by American auto 
companies, with General Motors 
Corp. buying Hughes Aircraft and 
Chrysler Corp. buying Gulfstream 
Aerospace. 

Werner Breitschwerdt, Daim- 
ler’s c hai rman, said at a news con- 
ference: “Behind this qualitative 
leap into new technology fields is 
the aim of opening additional, 
long-term perspectives for Daim- 
ler-Benz and therein securing the 
future of our firm.” 

He also mentioned the potential 
effect of the combined efforts of 
Daimler-Benz, MTU. Dontierand 
AEG in areas such as electrodes, 
automation, transport technologies 
and space and air traveL 
- On Thursday, Mr. Breitschwerdt 
was quoted in Winschaf tswoche, a 
business weekly, as saying that 
Daimler was interested in high 
technology and not in diversifica- 
tion at any price. While some ana- 
lysts have suggested that Daimler 
could sell AEG’s ailing office 
equipment and household appli- 
ance units, Mr. Breitschwerdt indi- 
cated that the office equipment 
unit in particular might be 
strengthened instead to become a 
major competitor in tbe communi- 
cations sector. 

AEG entered composition pro- 
ceedings — similar to a reorganiza- 
tion in the United States under 
Chapter 1 1 of the bankruptcy code 
— in August 1982 with debt of $3.5 
billion. 

The electronics giant, which 
ranked second behind Siemens in 
West Germany at the time, had 
suffered from competition and mis- 
management since the mid-1970s. 

Under the leadership of Heinz 
Durr, who became rhairman in 
1979, the company tried to achieve 
a turnaround by selling many units, 
shaping others into joint ventures 


with healthier companies and 
strengthening its hold in advanced 
technologies. 

Still, by the end of 1983 AEG 
had a broad base of products in- 
cluding turbine engines; industrial 
and marine electrical systems; rail- 
way power systems; radio, radar 
and communications systems; por- 
table and electronic typewriters un- 
der the Olympia name, and domes- 
tic appliances. 

The company did not emerge 
from the proceedings until Septem- 
ber 1984. In doing so, it was helped 
by a 24-bank consortium that ab- 
sorbed debt of $342.3 milli on The 
banks agreed to convert that debt 
into a line of credit. 

AEG earned S38 mini ng Inst 
year on revenues of $4 billion. 

West German financial experts 
tend to favor Daimler-Benz’s ex- 
pansion as appropriate for a cash- 
rich company in an industry that 
has not found the cyclical recovery 
it sought. 

Mercedes automobiles continue 
to sell well, with high profit mar- 
gins in the United States. But track 
sales, once 50 percent of Daimler's 
business, remain in a slump. 

Daimler-Benz is one of .the 
world’s largest automotive manu- 
facturers in terms of sales, largely 
because its cars, tracks, buses and 
tractors sell at a high price, but it 
has only a small pan of tbe market 
in terms of vehicles sold. 

After the takeover of AEG, 
Daimler-Benz’s annual sales would 
total about $23 billion. 

duett, Peabody 
Resists Takeover 

Reuters 

NEW YORK — Cluett, Pea- 
body & Co. said Monday that its 
board had rejected the tender offer 
of $40 a share made by . Paul A. 
Bilzerian and CPC Acquisition Co. 
It announced a competing ex- 
change offer valued at an indicated 
$128.6 million to defend itself. 

The apparel company said it 
would exchange up to 2,222,222 of 
its common shares for a package of 
cash and securities comprising 
$1 1 .25 cash, a share of SI .63 cumu- 
lative sinking fund preferred stock 
and $45 principal amount of 4.65- 
pereent 10-year discount subordi- 
nated notes. 

Henry H. Henley Jr„ the chair- 
man, said in a letter to shareholders 
that the exchange offer was de- 
signed to give them the chance to 
receive a premium over market val- 
ue but still hold a significant por- 
tion of their equity interest. The 
company offer expires Nov. 18. 


European Banking Company 
Limited 


announces that 


Amsterdam -Rotterdam Bank N.V 


has become its sole shareholder. 
The bank will now be known as 


EBC Amro Bank Limited 


EBC 
AMRO 


10 Devonshire Square, London EC2M 4HS 
Telephone: 01-621 0101 Telex: 8811001 




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aavd. The)’ look upon travelling n a fine .vr. 

These troeconnoisseurs require the best. It 
is for them chat the Louis Vuinon craftsmen 
create luggage and perpetuate die tradition of 
custom-making perfected over the last 130 
years. 

These skilled artisans ensure that each 
trunk, suitcase and hag, be it of the classic 


“Monogram" tine or the new “Challenge" 
tine, hears the Louis Vuinon stamp of 
strength, durability and refinement. 

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

The Louis Vuinon concept of luggage is 
unique. It has fcxa-n maintained since 185-1. 


In Paris and the major dues of the world. 


In Europe, exdtuivdrat the Louis Vuirmo shops. 

Paris - Nice • Mon re-Carlo . London •Brussels • Geneva • Lausanne • Zfirich • Milan 
■ ■ Florence -DusseWorf-Franlcfim -Hamburg -Munich. 


LOUIS VUITTON = 

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9ft 5ft Jetron Tl 110-3 12 27 6ft 6ft 6ft 

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lift 7 JohnAm JO 41 10 31 7ft 7% 7% 


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98 10 9ft 9ft 
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CUR ^ Bic YMAWtt ^ ^ 

Dollar Lower in Quiet European Trading 

The Associated Press _ - * . ™ 


INTERNATIONAL HERALD TRIBUNE. TUESDAY. OCTOBER 22, 1985 


Jydj 


\3l£ 


LONDON — The dollar ,__,. erc ,'* crc °o reports of inter- DM, Simon unchanged from Fri- 
Iower Monday in Europe against Monday. day's 2 j634S DM. 

most nugorairreacitt as theSSSJ the dealers would not Operators woe looking toward 

of central bank intervention con UiS <kdine in the the next U.5. economic indicators, 

tinned to hang over die markets the market wasiiot consnmer prices and durable 

Currency dealers said strong cm bean ™^thecomsKy.Inthetong goods, doe out Wednesday, 
porate demand for dollars <*nttal bank intervention can- The .pound dosed Monday in 

not lift the currency bccanw* 5°*, hold the dollar down, many. . London at SI. 4345. after Friday's 
ers feared a repeat **?**«&•■ , 'do* of 51.428. 

substantial dollar sales bvtheSnV .JJ t^don, the dollar recovered In other trading Monday, the 
of Japan, the West «??? f 1 !*. 10 ?' 5 10 around dollar was fixed at 2.6311 DM in 

Bundesbank and the n « vI? aD , finishing levels after a thin Frankfurt, down from 2 j 6349 Fri- 

Reserve System. - day; at 8.029 French francs in Par- 

of Japan, France. Britain S^f said that attempts to test is, down from 8d4. and at 1,776.50 

Germany and Janan H* ws m **“ moining railed and tire in Milan, down from 1,779.45. 

SepL 22 to act toS^er tSf/SLi!? 1 *** sonic retracing later - ■ The dollar closed at 2.1628 Swiss 

the dollar to reducethe U “ the day. The dollar toadied a francs in Zurich, down from Fri- 
deCcu. 0,6 U,S - *** teyj s low of 2.6140 Deutsche day's 2.1660, and at 214.30 yen in 

xnaxks before dosing at 16350 Tokyo, down from 215.45. 


France Reports Provisional Increase Sc3TS S Co m HI i tHlCIlt toWfflu 
Of 3.1% in Its Industrial Production ~ TTI 


Page 15 


rade 


•on-' day; at 8.029 Froch francs in Par- 

tid that attempts to test is, down from &Q4. and all, 776.50 
the morning railed and tire in Milan, down from 1,779.45. 
as some retracing later ■ The ddlardosed at 11628 Swiss 
The dollar touched a francs in Zurich, down from Fri- 
of 16140 Deutsche day's 11660, and at 214 JO yen in 
re dosing at 16350 Tokyo, down from 215.45. 


THE EUROMARKETS 


PARIS — French industrial production rose a provisional 3.1 
percent in the July/August period on a seasonally adjusted basis, after 
a confirmed 1.5-percem decline in June, the national statistics insti- 
tute, INSEE, reported Monday. 

The figures, which exclude construction and public works, put the 
July /August index, at 135, up from 131 for June. Tbe index was 134 in 
July/ August 1984. 

In the year to the end of August, industrial production rose 0.8 
percent, unchanged from the year to June. 

INSEE always groups July and August figures for indusuial pro- 
duction because of the' sharp' drop in activity in the summer vacation 
months. 


Company Results 

Revenue and profits or losses. In minions, ora In local currencies 
unless otherwise indicated. 


2 Caimdmn-DoUar Bonds Are Launched 

By Christopher Pizzey The primary . marker . was sub- bank bolding c ompany based in 

muiYtM v/ dued, although a cooplcof Canadi- Texas. The issue was launched us- 

fiiA v 051 s ® Ilor ® °f an-doliar bonds and fl$12S jnillinn ing the mismatch formula, al- 

“dsd little floating-rate note did emerge dur- though there is protection for the 

u 1 ?* a Tuiw ■ ing tin: day, dealers added. investor should the yield curve in- 

The floating-rate note was for vero 

emerged’ dealers said. MCorp Financial Imx, a amltipk- Tbe 12-year issue pays V4 point 

over the six-month London roter- 

Elderg of Aust ralia Offers . fixedmonthly but payable semian- 

. , _ . Dually. However, if one-month 

Of O Dill* £ A H* ' l^T ' Libor exceeds six-month Libor, in- 

djj-M Jjiifion lor Allied- Lyons i0T 

(Continued from Page 9) managfimwi r needs to be pruned ri* 


Fst interstate Men lllioafs Tool Works * mmrw ms 

3rd floor. I9SS 1MM 3rd Oust. lfts HU R«voco* 4.890. 

Nel inc so JH 7B.3J Hewiue 144.1 Hf.i n*t inc — M 

Pft-Shof*^. 1.70 173 Nrtlnt-— 1172 1547 P*rSW*_ 3.14 

» Mounts ins IW PerNiore — 030 <U3 Maw Yoric Til 

Net ICC, 22875 2D170 9Monfbs IW TM4 _ JA 

Par Shore *J5 4J9 Rcvonua **7S 442.9 Qoar. IW 

Met lot *134 44jss 3343 

Gillette per snore— 1 a 6 ijv Nat me. 233 

MQmt. IW IW Per Shore _ CJ* 

Revenue — STM MJ Ipjand Steel fMeoffn H85 

Net Inc 3U OJ iiwbih aieei 1300 

Pm Share „ 125 I A3 » Quor. IMS IM» M«t | K fltl 

4 Mnntta. ,w in* 5STSS— *—! 7 S* Per Shore — ITS 


t Months IMS 1«M SSJTiSi 

Revenue 1 J» iaml ^ 

Nel Inc IJO.7 1238 *M«rfhS 

Per Shore— J.71 377 

Nat Inti 

GroluKr tw.WJ 


S2J 398 ltt f v^nam net inouoes 
HIS IW gaht at SSJS tniUum from sale 
IgO ZJW otproexmr. 

... . Norwest 


(Continued from Page 9) 
we have done that* we con move 
into other areas.” 

Mr. Cariucd, a former U S. am- 
bassador to Portugal, was deputy 
secretary of defense in the early 
days of the Reagan administration 
and deputy director of the Central 
Intelligence Agency under Presi- 
dent Jimmy Carter. Along with the 
subsidiary's president, Charles F. 
Moran, who has been insirumeota] 
in developing corporate strategy, 
and Mr. Jones, Mr. Cariucd has 
overseen the trading company’s re- 
structuring 

The subsidiary should trade on 
Sears's strengths, Mr. Cariucd 
said. Through its contracts with 
worldwide manufacturers who 
make products for Sears, the com- 
pany “has a unique sourcing capa- 
bility, a very large physical distri- 
bution system and an unparalleled 
drill in designing and developing a 
product,” he said. 

Mr. Cariucd bristled at the de- 
scription of Sears World as a trad- 
ing company. "It is a bit of a mis- 
nomer. It conjures up a bunch of 
people aiting around a table say- 
ing, TH sell you this at S20.’ 'No, 
IH bid 522.’ ” 


3d-Peiiod Profit Down 18% 


Reuters 

CHICAGO - Sear*. Roe- 
buck & Co. reported lower 
third-quarter earnings on Mon- 
day and said the results reflect- 
ed a deceleration in the growth 
of personal income and soft 
economic conditions. 

The UJ. goods and services 
conglomerate reported quarter- 
ly earnin gs of $262 J million, or 
71 cents a share, down 18 per- 
cent from 5321.9 million* or 88 
cents a share, in the year- earlier 
quarter. Third -quarter sales 
rose 4 percent lo SI 0.04 billion 
from $9.65 billion a year ago. 

For the first nine months, 
Sears reported a 16-percent fall 
in net income, to S751 million, 
or S2.03 a share, from 5891. 7 
million* or S2.47 a share, a year 
earlier. Sales rose 4 percent to 
$28.65 billion* from S27.46 bil- 
lion. 


Sears said its Allstate Insur- 
ance Group had third-quaner 
earnings of SI 28.9 million, 
down 39 percent from S21I.4 
million a year earlier. Sales rose 
13 percent to S2.6G billion from 
S2.3I billion last year. 

Sears said its' merchandise 
group had quarterly income of 
$166.9 million, up 2 percent 
from S 1 63.8 million a year earli- 
er. Sales rose 1 percent to 56.50 
billion from 56.46 billion. 

The company said its Dean 
Witter Financial Services 
Group incurred a third-quaner 
loss of S7 million, compared 
with a loss of S7.6 million in the 
year-earlier period. Group re- 
sults included an afier-ia.v loss 
of S2. 1 million related to intro- 
duction of the Discover card in 
September, Sears said. Sales 
rose 3 percent to S679.4 million 
from $65 9.4 million. 


ing that Japan would make a good Sears World is not yet profitable, 


3rd floor. IMS 1M4 Klm&erty-Ctarfc 3ra floor. 

Revenue — 2S&4 27iu smOaor. IMS HM Net inc 

Nel Inc. 1U7 l*U Revenue lAli msji Per snare 

Per Sftarr GuM <U1 Nel inc. *13 S2J . 

9 Menus ms IMS Per Snore— iJ* J.1S 

Revenue M3 1 79*1 9 Meets* ins t9M Per snare 

Net inc. 5233 50* Revenue 3 «xl 2.700 a - us* 

Per Share — . I JO us oner Nel — 2U5 WZ 

Pw snare results adiusunt Oper Snare— *J7 1*3 

tor !■ tor-1 spl‘1 In June i*t 4 9-monm net excludes Srd Oow. 

— _ . 9o4n oi &.r million. Revenue. 

Guarantee Financial ocer Net . 

ini Ou*r mbs ini Inn* Star I ivliKtrle* Ooer Stwi 


(Contiaoed from Page 9) irwniigpmtii r needs to be pruned 
Co-, described the performance of and made more accoun t a b le to the 
Allied management as “awful.” top executives. The present orgam- 


l«S IW 
2*9 loJ2<Jl 


Guarantee Financial 
3rd Qoar. ms I9M 


Credit Suisse First Boston Ltd. — 


He said Elders would seek buy- ^ 
era for Allied’s food division, which Sr 
includes Baskin-Robbins ice 
cream, tea, coffee, cakes and cook- “a 

ies. A sale of the division, which “im 
accounts for about a third of AJ- a 


top executives. The present orgam- was the lead manager and quoted 
zation, which includes about 100 the note at 9938, just outside the 


Revenue 

Nel me. 

Per Share 

9 Men ms 

Revenue 

Net inc. 

Per Share 


“ignorant jibes.” 


nnen roaqaes aoom xuu tne note at wjb, just outside me HJfinc — 
g directors, is *a recipe for 40-basis-pomt sdfing concession. z ’ er 5tMrr — ' 

XtlS ■ oi tbe secondary market, prices - * 

wharfs gomg on, he said, harder in tpriet 

the criticisms ay. ovcra n najfing with interest again 52«523*" 
noted in perpetuals. ~ 


7*8 74 A 

3J 3JM 
<U1 034 

MS 1984 
227.9 19*4 

7.9S (0)039 
13\ — 


Lora 5 tor Industries 
Inf fleer. ms IIM 

Revenue — 2SSR 2793 SSIJ'IS — 

Net inc. 353 114 «“r Net — 

Per snore 244 ojb oww snore— 

9 Months ms 19M Penn 

Revenue *o 03 7*9S 

KWfhC 49.4 M9 

Per Snore— 171 UJI2 — 

IMS not * tnctuoc aaln of S" K=.r~ 
SS/.9 million. Per snorr re- Per 
cuff* after p refarrcel divi- * Meoth* 
dm* Revenue- 

Net Inc. 

Per Snare— ^ 


waw. 
Revenue - 
434 Net inc. - 
1984 Per snore 
9 Months 
1UJV Revenue. 
.T Newtic 


o: toss. IW rosvtts reslat- Per Shore 2.71 

erf. lOK IMK inrbtfv 


trerPc j - Analysts credit Allied with im- 

W proving its managonent but soy tbe 


■ , - ; , , r Harris Bankcorp S2/.9 mui 

Igcd a fraction harder in quiet M9wr< ^ 

tcraH trading with interest 3gain Hi'™**- 

>ted m perpetuals. 9 ms m« 

The Canadian -dollar sector saw per snore „ os ui Revenue . 


two new issues, the first being a 75- He 

millk>n-Canadian-d<dlar bond for wowr. 
Bank of Montreal Realty Inc., — 

guaranteed by the Bank of Mon tie- 
al* paying KW percent over seven Rmm 


^m^gitdiffiadttoob. S£SlS=rdS=!S guaranteed by the Bank of Mamns »» 
tain lull pnees. 15 pecomt in 1980 but above lows *L P*y™8 percent over seven hjv-«« 9- 

Elders said it would keep the reached several years ago. Grieve- yean and priced at par. Sir s£r? 

brewing wines and spirits busi- son’s Mr. Spicer said. The other issue was a 50-minion- 

nesses. But it would seek to sell 50- The company's profit margins Canadian-dollar bond for Montre- Home 
percent stakes in Allied’s 7,000 on beer are aro und 9 percent* com- al Trostco Inc. that pays 1 1 percenL mow. 
British pubs lo the publicans who pared with 13 percent at Bass PLC and was priced at 100 ft. The five- pf r *£» 
run them, further reducing debt and Whitbread it Co., two other year bond was lead managed by 9 moo«m 
M r. Elliott argued that Allied’s big British brewers. Orion Royal Bank Ltd. Li 


Hercules 

ms (ft* 

*138 *72.1 

333 S£9 

0*0 1430 

ms 1984 

1,950. L95& 

111.1 1531 

2430 27* 


ifu Movtoij 

28J> 3rd floor. IMS 

434 Rovenur — 17541 

Nel Inc. 19.1 

Per Share — 140 

inc * Mm»m» lm 

*72.1 Revenue 52** 

«o Net Inc 5*9 

1430 Per snare— . 4.13 


tMoaHM 198S WW 

Revenue 3 MB. 1 J70. 

Oner Nef 31 J *&* 

Ooer Shore— I J* 280 

Penn Central 
3rd floor. 1985 198* 

Revenue — 5704 *U5 

Net inc 124 3 *e 

Per Share — 031 08* 

f Monttn 1*85 1984 

Revenue vs. im 

Nel inc si* 13(4) 

Per Share— . 2438 285 


Rather he said. “We're in the mar ^ cl *°r computer software, having lost $4.9 million on revenue 
process of structuring long-term re- translatoi some programs into Jap- 5105 miBion in the first half of 
iationsirips between buyer andsdl- company’s To- 1985. Althou^t the loss was less 

a where we would bring our tech- k >° J office be S an distnbuung the than half tbe SlO.l-mtlhon loss m 
meal and physical sSb to bear. „ . the first six months of 1984, many 

That's very different than a tradi- !? c whde omentiy financial analysts, especially those 

tianal image of a trading compa- small, !s qinddy growmg.” said a who follow retailing companies, are 
M b corporate memo detailing some still very skeptical of Sears World. 

Mr Cariucd declined to name C2S& histories. “I think they’re klutzes." said 

ihespedfic com^S^oing busi- . AlthMgb Sears WorW is fc^; Edward WeDer of EF. Huiron 
ness with Sears World. But he gave m S 10081 of *“ attenuoo on con- Group Inc. *1 don i know why they 
examples of the types of projects samer goods, it also has been look- want to be in the business." 

wav mgai Olba - areas. -j hope jj's going to go away," 

t- . , . . One of those areas involves trad- ^ Waiter F. Loeb of Morgan 

<a^.^£wSd C h3f£i°h fl a‘ ^ U S hl . indu f tri f ] Boods, such as Stanley & Co. “It should be^aS 

S C, no“a ,b ^S SinE 

S^__Wor,d to_bough._ nidio aShlWBS.terfp* 


3STK?- 'IS wear- Venmre capital for the sune for rS S^STt^Utiab 

Per snare— . 2 j» 285 company was provided by Sears enmoanv in the United States V .e n ° Ln “ l J.H.UUCS » 

m* mSSatSrafiStgSn * 07 Worirfs sister finns, Allstate Insur- ^SrtWorid is also experiment- "*“ Sc “ > un< ^ ,,, *™ ls - 
Sj rca an** Co. and Dean Witter Ftnan- im, with importing processal food, . ,nl « Baoono] ^5^ ? n 

« ouar. im im dal Services Group. SKiSoSKISnS the otiier hand, praise Sears for , is 

W2 oS?nk — iMMo ^ The trading arm then supplied a and pineapple, and selling it to an ^I? 0l ! s effon f 
Si letter of credit for fi naieing and fowl brokers in the United States . *^hw ^ one °f riie first real trad- 


dal Services Group. Q ./»h 

The trading arm then supplied a and 
letter of credit for financing and food 


, paying KW percent over seven Revenue i,*m. L9i». Micntsan Neiionai 

ars and pneed at par. per snore— , 200 274 wet inc i 27 ™ 

-p. . _,L„ rn ;n-» 7*J 9-monlti not ineloOot Per Share— OJO USD 

The other issue was a 50-trall ion- gom a/ sa.i mutton. 9 Months 1999 in* 

inadian-doUar bond for Montre- Hwneiteati Financial vn IS 

Trostco Inc. that pays 1 1 percenL mow. ms mt 

d _,__ ,/Viv <rv. r...-. wet inc- 9 -to no Monsanto 

was priced at KXm. The five- p* r snare im <us M mu 


Rev«u»— &Jm. ,333. import services, including cargo under a Sears World label. 


“I OpepJWK 

1984 Ooer Share- 
54) a: loss. 


what Sears understands.” 

Internationa] trade experts, on 
the other hand, praise Sears for its 
ambitious efforts. 

“This is one of the first real trad- 
ing companies this country has,” 


£4 management, document handling, “There are a lot of small brokers A- Goldberg, a professor 

custom clearance and warehousing, out there," Mr. Cariucd said. As agriculture and business at Hss- 
Sears says the company, which it more food is purchased from var 6 Graduate School of Business, 
would not identify, is now one of abroad, there wul be a need for “U 5 i* good for Sears and the 


Orion Royal Bank Ltd. 


Nel Inc — -- 
Per Shore 


M floor. 

1984 Revenue 

7 jo Net inc. 

>J8 Per Snare 


i5§4 Scherin*- plough Sears says the company, which it more food is purchased from yranuate iciu 

ijo Revenue' uti woa ^f not identify, is now one of abroad, there will be a need for 14 good for 

nj* j£3 fastest-growing shoe companies in someone to provide economies of country as a whole, 

m* immim ms iiu the country. scale, “so we would expect that "Despite their los 

1,440. 1,00 

149 J 13*8 


ante Per snare 

IMS 1ft* f Moatftt 

1.74a. 1800 Revenue 

318 784) Net Inc 

042 0.97 Per Share 


In another example, a Sears area to grow. 


so we would expect that 


“Despite their losses, it's not too 
optimistic to expect them to be in 


27s World electronics engineer, observ- Despite its reduction in scope, the black next year.” 








.. • " v 

m 


Mondfn^ 

OTC 

Prices 

' NASDAQ PTfCMOS Of 
3 pjri. New York time. 

Via The Associated Press 


r>2 Month 
Mob Low 



12 Month 
Utah Low stock 


716 life 
no M Adana Ml 

a i ssa f 

179* 13Vj AflMi J» i2 221 

2314 15W. ABCVR* t 51 

1414 914 AlrMd .108 1A 282 


15V. Alftn 
4H Aioonex 
10% AleOW .108 3 
2248 15 AlleflBv M 1A 
2H* 179* AJIdBn M 4 A 


5 IV A final 
8W 4V4 AIPMIC 


MIA «4b AJ108 
25 11» Amcoti 

494 AWAIrl 

a AmAdv 
ABnkr 


. t 134 

lire abiuct JJ3 3J ^ 

70V4 Amcarr . It2 

514 AContl _ 130 

13 AFdSL M AA 0 


1 XSER Vas 

._ 289h AGreet JS XB ... 
14 rns AmlnLf AO 07 35 

5V, AMasnt « 

MUi AMS t _ 127 

2714 ANtlru LM 30 11 

1 « 35 l 

7 14 AmSHs 
L& ASolar 


44S 289* AffllrVf lj» *A T7I 
T7 Amnwt 14 

. .. .SSiSSSS ,J» U St 

2014 1414 Anwds j40 2L3 28 


1SK 10 Anhwlc 
151% 814 Anaren 
39M 13t4 Andrew 

S« §5 ADO 
31 W 1414 AnoleC 
2798 IM ApIBIq* 
38 1714 ApkMtt 

1314 8 APklSIr 
7V. 3H Archive 
22=v. 1514 AryoS 
4014 1914 AtEb 


4014 1914 ArlzB 
9 8 Artel 

159* MW 4 AetfHst .12 J 1129 

9 54k Aslrocv M 

22V* 1314 AlCOT 84 U IM 
27 1814 AflAm AO 1J1 2 

4314 TSVz AtlntBc 90 12 350 

1494 844 AtlnFd .73 

M 814 AN Pin IM 

30 1944 All R«S 1 34 

1814 29b AISeArs 1233 

20 144* AtwdOC . M 

124* 444 AutTrT * 51 

94* 29k Autmtx 

74* 414 Auxtan 

1314 24* Avocro 144 

21 8 AvrrtGr « 

259b 1714 AvnJvk 244 

20 1SJ4 Avatar . 5 

204* 13W AvIatGD „ . „ 833 

814 4 AztcM JO 48 4 


5114 404* BBOO 220 AS 72 

1* 44k BRCom : 7 

2114 M44 Bancakl JO 57 18 

35 2314 BcpHw 1J6 44 17 

12 51* Banctec „ „ £ 

111* 814 BanaH .80 88 10 

51V* 3014 BKNE * 2i® 44 274 
151* Bib mum 180 TO! 33 

1614 914 Bankyt 7M 

181* 12*b Santas M 24 92 

10 644 SarWlD 1 

289b 8U BorrliS 1570 

131* 8 BsTnA — . g 

15V. 7 Ba*Am 18*tll8 50 

40 311* B5*tF 80a 13 Ig 

«H4 399b BavBkS Z4»J 43 164 

9 6 Bavin- • .13 18 IK 

in* 514 onehCf Jg 

214* 12Mi Beotian • .. £9 

31% 30% BatrLh 1J2 A2 .737 

20 105b Bill B g 

is 91*. BIoHoor 32 

1514 9to Blndlvs - 4 

m 34b StaRes ST 

1816 41* Biogen - 218 

TVi 1 Bkztrc 40 

1014 6 BtotcR - 577 

11 5M Blrdlnc „ 21 

394* 261* BoatBn 150 f7 138 

23V4 tfli BabEv M 133 

IT HVi BosS Be 33 W 3Q* 


Dtv. m IBh Htab Low 3 PM, dree 1294 

■t ■ 71*. 

: — 23*- 

3514 

jftU 

94* 19 1914 + 1* 38M 

1214 U +14 mS 

2DW 204b— 9k OT4 

91* 89b 9 — 14 »4* 
24* Z* 2Vj — 1* 

104* 104* 104* + 9b 2194 
27 Mb 28*4—4* 35 
Bb 11* 14b + 14 mi* 
7V4 TV* 71*— 4* if £ 
1W& 94b 944—1 4BVb 
. 34b 31* 3V.— Vk 18 V* 

80 U 221 151* 151* IS* + 14 44b 

.10* 10 282'. TOW J4A lSS + 4* *89* 

MO 3J *n 3TO 38* W* + 1* 

123 - 19 184* 19 361* 

10 54* 54* 54*' 2094 

.108 J> 2 21 21 - 21 + Hi 21*b 

AO 24 28 IT 184* 77 — Vk tiij 

M 44 882 19 1844 19 +14 3094 

M 234 394 344 + lb 154* 

90 » 5 3 -4 41b 

387 • 9k W « 43W 

M 33 93 1214 114*1146—11. 4344 

883- 109b 10 1094 + 94 13 

. t 134 814 54* 6 — 1* 3114 

503J3O3 I3S4 124* 1394 + 4b fib 
112 1U4 1116 1194— U 301* 

130 9tb 844 096— 9* EH* 

80 4 A 8 - 1346 134* 134k— Vi 24 

f 80 8 79b 8 —9* mi 

JO 25 133x 309b 30Vt».3Mb + 44 2594 

U 944 318b 3114 3144 416 

A0 27 35 11)4 104* 1Mb— 14 151* 

88 844 616 M as 

127 201* 194* m*— 94 1314 

LM *0 11 3£b 3H* 35ft g% 

39b 394 394— 9* 12H 

U%3% K 

« ’ft V i-+ft Sft 

IJ0 U m sn£ »?* ^ 

A0 13 28 18 174* 174* 27 

44 124b 124* 1»b — 9b T8V4 

11 1394 13 J394 + 94 26* 

378 159* 144* 1594- 14 B9b 

.14 M M 104b 10 P^, .— V* 544* 

1143 12 1194 114* 59b 

,83 19 ^ 1094 - 94 T 

- 8 414 444 .444 im 

34 191* 19 19 — 9* 2U6 

Mb 2J) MM 394* 3944 394* Jh 

94 894 61* 81*— 1* 6V4 

.12 J 1129 1314 1146 1M4 + 4* 221* 

38 M 61* 81* 40 

A4 12 148 7044 20 Vb 2044— Vb 10 

AO IJ 2 22 22 H —•* 1144 

JO 22 350 4084 4094 4044 + » jm 

73 1144 1194 1196 + 94 c 


Sole* In Net 

Ota. YM. me KMH Law 1 PJ9L Offae 


16 

U0 58 128 
41- 

ZOSbXB 34 
13 

84 X4 189 
51 


114*— 1* 
3116 — Vi 

181*— 1h 

54(4 + 9b 
IS* 

m 

^=!2 

99b— 9h | 

1K±5 


12 Month 
High Low Stock 


1994 II EvnSut 
189b 71* Exovlr 


Saiecia Nel 

DN. YM. TOO* High LOW 3 PAL OV— 

255 19 18)4 189* + «b 

112 121b 11*b 11*4— 1* 


12 Month 
H tan Low Stack 


Sales la 

gjfcVM, jjjh Hi eh Low 3 PM. I 


17 Month 

i HlehLow Stack 


Dh». Ytfl- 1001 Hien Low 3 PAL Oroe 


IZMpnlh 
Htah Low Stack 



f 80 
50 25 133x 


44 

U 

378 

.14 14 M 
1143 
3881 
885 

.. 8 

34 

Mb ZB toi 
94 



2? 

Slal.2 26S 
81 
313 
147 

"4 

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157 

74 43 339 
108 

.12 4 2384 

.18 13 6(1 

128 

X10 54 10 

UM 24 15 

•50a 56 11 

140 54 4 

3398 
38 14 10 

35e 5 40 

106 
3817 
32 1.9 354 
10 
123 
377 

38 J 17 
37 
93 

.12 14 188 


336 

2 

25 

742 

240 1*0 300 
1480114 13 

2J6 154 5D2 
27 

148 XI 94 
M 24 25 

342 

244b 4J 94 
29 
85 
2870 

77 

'SB 

40 2J 421 
76 
. 1ft 
707 
» 
.74. 
..22 
.14 .13 2 

130 

40 34 306 

78 


im im im + in s 

9VS 99* 9% + 16 7Vl 

279* 2795 279*2 — 9* 17b* 

DM 129b ,296.-* 169k 
- 1+9* U*— Vk 29% 

Mb 49b— *b u 
39* 39k Vb mb 

5*b MS— (b 3196 

9k* Wfc— 9* 281* 

79k 7 79b . 2T 

a. 209*M6-9k_ : 

1794 179* TH* , „ F ^ 

U9b 14 14}b + 9* * ■ — 

49* 49k 496+9* 179k 7 DBA 38 

1 49b 296 DDI 49 

119* 69b DBP 38 

309b 49* DSC 6087 

49 Ml 4» . f n 37Wr 209k DnUvSV H3 

* ™9b 21V» DolcaF m 

1511 159* 159* 79b 496 DinflBlo . 16 

3Ub 31 31 108 83 DartGo .13 .1 23 

>01* 9Bl in* + 9* 279b 12 Dalcrd* 34 14 58 

99b .«* *?*— 9b 1496 BWDtaiO. 2D2 


27 HVi Bad Be 

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4MM 0 
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a 39* Brttico A3 34 S7 

M BrwTom ™ 

U9k m Brunos .16 LI 124 

219b 119k BuUdTc ■ . , 4 

209b 1296 Bmhm SO 14 77 

21 IS BureBr . . 1» 

291m 219* BMAS 144 34 M 


Wj 6 CCOR 
101* 4 CPRhb 
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21 14 CPI 

Mk 49b CPT 
WJ* 6 CSP 
jy. BbCACI 


2fl 

121 

224 

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1785 

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73 


91b «* W*— 96 IM 896 DtO iO 203 

4W «N 5tt to ptswteh 109 

01* 91* 914— Ob 26 VI DtMtp ■ 41 

]to T59b B9k «b - 205 

959* IgM >£A— »b 79b 5W. DwWDn - 13 

,5? «■ 1916 996 Oe&hs 20 U S 

149* 13Vb I3Jb— Jb ink 99b DeSsO- 932 

II* 11Vk 11JJ-J* 3056 20*bDeUbA J2 2J 5B8 

896 89b 8 Mi — 96 31b . lb Deltaue 23 

wvb am + 1* 7^6 vb K w 

56'*. S59fc Si 09* 49* DonUU 937 

.5* 69b «k— » 149* 79* DtotiPr * & 

99b 916 m jm m> 'mason c . 632 

13* 1? — * Mb 10 Dtejon 2 

3196 315* 319* 1596-096 Dlcmed • - - « 

U99 1416 MS- 9ft 3ffJ* 121* DWCm 37 

169k 14 16 389* 22 Dtoiox 8 

lOH 10% 10% 2Ah-16 DlrGni JD 1.1 597 

4% 5% # ^ 381* 24% DamB US 41 11 

■ m 99* » + % 209b 12 DrehH SB 14 1 

29* 296 29*. . or 161* DaytDB 48 44 803 

91*. 79* 796—1 13 m Dnmta JD0 U IS 

09k «9k Jib— 9* ib w Dreidr ID 

321b Jllb + % 199* 11% DreVGT . 69 

21V* m m— % 25% 7496 DorkDs M IjQ 65 

24% 239* Zf¥i— % IB* 9% QurUwl. » ■ 5JS 22 

414 4% Jlb—JS 15% H* DurFUs .13 U 68 

sift ,3ftgSJSc .. -A 
■f**.!* I ~ — 

IS* ^ 1^1* SVb EdTei .86' 

mv* iml % U' Sft“EiP • • ,Ta an 4 

f f * 59* 9k EaoJTI 17B 

3^^ISSSS-Ii» 20 4 

1 if* l£* HSf U2 llJO 291 

"a y * 

to 4 4 ■ 99* 4% Elnd . 


27V* 2496 &J+T* 
8% 89* 89*— 96 


ffk 69* 69* 
41k 4 - 4 


im awvsc m a m 

11% 7% CalMIc 71 

4 2Jk CalSIvo 25 

41& 2Ut CalhinP 1* 

151* ttbcainv .18 U J2 

1696 CanonG 

2% % CapCrb , >174 

« ’kfSSlfe ft- 4 i 

a& w * ^ 

31% «6 Caseys c 388 


47 
2! 

.... . _ • .■ IM 

,2> ihI «2“ » "*• ElCalh* 199 

1*1* IW* 19% 7 EltNUCt 283 

•to 5% A + }« mb' M9b CI«Rnt OT 

*94 956 « + % 15% • 4% EtetMl* 270 

to 3 3 ^ 139b 69* ElronBt ■ , ' 61 

ffl* ?!* + » 749k 69* EMOAlr 174 

im |8 1CL 149k .59* EmuUx «22 

K-BHB.V- S 

179k 1396 .jgk.+ % 17W 89k EndhLS 580 

s -fiBEr So 2 

SSSrt ■*- ” ™ 

10% .10% 10% — % 20W 79b Hwet - 1116 

T59b IS 1»b + K 89* Mb EulC^ Jfl 19 90 

18 159k M% + % 40M SSU SrleTI 


18—1* 
161k— 9* 

U*— % 
49* 

19 
17% 

11 

20 + 9b 
11 % 

29b — Vb 

K£ + % 

9 — % 
am— % 

Ilk + 9k 
26% — W 
99k— lb 
19 + % 

10% 

179k 16% 189b— 9b 
3tb 3% 39b 
*1* 6 69* 

24% 239k 239b— % 
9% 9% V%— 9b 
79k 7% 7% 

12% 129k T2Vb 
7% 79b 7VS — % 
2% 29* 29* 

71* 7% 7% 

10 17% IS +1* 

59k 5% 59k + 9b 

1% 1% 1% + % 
99k 8% 9% + lb 
7Vk 6% 6%— 9b 
14% 15 + % 

14% 149k— % 
13% 14 + % 

79b 79k— 9b 
47% 47% —1% 
39b 3% + 9k 
1% . 19*— % 
41% 419* 

IB M — Ik 
4% 4% + 9b 
to to— VS 

39b 3Vb— % 
17% 17% + % 

7% ^3%— 1 to 
B% B%— % 

IB 1 ?*-* 

3%' 3% 

11% + % 
15% + U 
22 %— % 
13 
14% 

21 % — % 
72+1— % 
30 


139* 13VS 139*— to 
2 % 2 % 2 % 
llto 119k 119k 
8% 69b 6to 
23% 23% 23% + % 
28*b 2BVb 28Va 
89b 69b 89* + % 
lOlVkMO 1019k— 11k 
17to 14% ITVb 
9% 9% 9lk — 9b 

5% 5% 5% + % 

249k 23% 24 —9k 

6to Sto 6 — to 
5% 59k 59k— 9b 
17% M*k 16% — to 

g^StfSr* 

^ \ 

.6% 61k Sto + to 
14% 13to 14% + % 
Jto 2% 2 
13% 13% 13% 

4to -3% « — to 
29 20% 2B%— % 

33% 33 339* 

lVto 18% 19 + % 
329S 32% 32% + % 
14 14 14 — to 

2DVk 19to 29 — % 
into 101* 10% — % 
189* 181k 181k — 9* 
19 Uto 19 + Vk 
23% 23% 23 to- to 
11% U% Ulk— % 

1B% jfflfe 1816— M 
59* S9b 59*— to 
29% 281* 291k +1 




12 ,1% 12 

fib Nb lib + J? 

10 10 10 — 9» 

35 34% 34% 

ion to w 
14 13% 13%— to 

PVb Sto 8%— to 
TVS 79b 7%— Vb 
9bb 8% 599— to 

m* mo u — to 

17 into 17 * to 

15% 15% 159k— H 

13% 12% 17%— % 
7Vk 6% 894- to 
14 14 M 

9% 9 9to-tb 
3% 3 3 — lb 

89* 84* 89b + to 
*to 8% 9% + 16 

19% IB16 19 +% 

18% IS IB — % 
14% 13% 14% 

11% ID 10%-% 
799 Mb 6%— to 
6% 8% 81b + % 
2596 24% 25 +46 


FDP 43 

FMI 136 

FamRest 37 

FarmF 98 

PrmG ,78 ZB 754 
FedGas 645 

Farallu 291 

Ftorons 58 

Fdiers 1J2 AS loo 
FlfttiTs 1.60 ZS 2 
FtaWe M 1J 134 
Flftrtk M 4A TOT 
Final co JO 47 15 


FAtaBfc 1.12 IS 23 
FIAFIn jo ZS 1 
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FIColF 5 

FComr 1J0 5J 45 
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FFCal i 88 

FfFtM Mb U 42 
FtFnCo JO 55 326 
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FNtansMO 27 1 

FRBCa TJX U II 
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FSecC 1.10 SJ 981 
FTeno 1J0 47 100 
FshJnC 174 12 159 

F taker 659 

Ftexstl AS 41 45 

FlaFdl 70 U 78 
FlaNFI JO 20 1 

Flaws E 157 

FluTDClJ 78 1.9 44 

Fonarh 222 

FLloci A 09 S 25 
FLtonB 117 A 348 
FOTAm .98 11 221 

Fcreito tM 60 22 

FortnP 11 

FortnS 958 

Forum J&b 7 774 
Faster .IB 2.1 87 

Framnl M 2.1 inc 
Fudrck ,16 

FulrHB 72 20 78 


12% 39* 
16% 9% 
llto 6% 
561k 289* 
M 5 
lOVb 1% 
259b 89* 

101b 49b 
24% 16 
209k ,4 
16% 12to 
22% ,01b 
189b 14to 
16% 10% 
9% 59* 

13% 5% 
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a im 

12% B 
15% B 
19 12% 

15% 9i 


241b 159b 
16 Bib 
71* 31* 
31* 2 
18 129b 

25% 15% 
34 'A 2S(b 
101k 5** 

12to 69* 

11 19* 

4% 1% 

23% 15 
241b 149* 
8% 3% 

379* ,5 
389* 319b 
249* 17 
139* 9 

12 31k 
10to 29b 
25% 15% 
44% 24 Vi 

6% 3% 

33 Vi V4to 
281* 19Vk 
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24% 15% 
29% 94 
11% 4% 

9Vb 59* 


.10 IJ 73 
779 
8137 
199 
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i JOB IJ 126 
74 1.4 345 

4 

1040 

13 

a u 4i 
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AOr 27 6 

150 
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75« A 145 
1580c 370 


70 18 582 
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13 
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29 

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228 

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236 

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2393 

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8 

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1566 

166 

238 

9 

2043 


109* 71* 
35% 16% 
13% 79k 

7% 31* 
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7to 29* 
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11% 3to 
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329k 209* 
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35% 21 , 
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2216 10% 
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179* 8 

189b BJ* 

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’L | 

259* 99* 

141k 89* 

13% *9* 

to to 


15% mJBRUs .1* 18 
Bib 3H Joclmot 
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279* 149* Jofliwm 
8% 4% JetMort 

23% 14% Jerico .IJ J 
7% 3% Jonlctt t 
109* 6Vk Jowksn 
19% nb Juno s 
2Dto 13% Justin JB ZS 


249b 131k KLAi 
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33 JOtoKoman 
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10% to Harden 


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11k 79* 
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189k ISto 
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16% ,6% 
299* 291k 
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25 

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4to 
17Vi 

179* 4- to 
30%— to 
,49b 

T 5 - to 

9 

49* 

22% — to 
5% + to 
18% — % 


4tb 3% 
119* 111k 
8 % 8 % 
489k 479* 
894 71k 
294 79e 
24% 249b 
89b 8to 
171b 18% 
15 149* 

!6to 15% 
22 22 
159k 15% 
16% 15% 
7% 7% 

129* 12Vk 
79k 7% 
20to 20te 
llto 11% 
13% 13 

"8"* 


4to 

llto 

6% — to 
48% + to 
8% + 9b 
2% 

24% 

69b + to 
171b + % 
149b— to 
16ib + to 
22 

15% — % 
18 

7% — to 
1794 + 9* 
79* 

20 Vk + 9* 
11% 

139b + to 


20%— to 
169* + % 

4 — to 
29* — to 

179* — to 
I6to + to 
30 

89* + 9# 
7=b— % 
2% 

2to 

179* 

179*— % 

5 — % 

,8 + to 

33% + 'k 
21 to 

109*— to 
5% + 9* 
39»— U 
25% 

43 — 9k 
4% 

32% — % 
22% + % 
12% 

22’k 

27% 

11 % + % 
7%— % 


9Vb 99k 
359* 34% 
13V* 139* 
69* 6to 
49* 49* 

3% 3V9 
49to 49% 
249* 24% 
14V> 14 
23Vb 22% 
49k 4 
11% mi* 
3% 39b 
14% U 
73VI 2296 
41b 39* 

2% 1% 

12 Ulk 

139k n 

26 25%. 

6% 6% 
14 13% 

Sto 6to 
119* 109* 
.to 39* 
17% 17% 
159* 159b 

ft ft 

33 229b 

low. io% 

13 12% 
Bto Sto 


vto— to 
34% — T 
139b 

89b— % 
4to— Vb 
to + % 
49% 

74Vi + Vs 
I4to + to 
23 — % 

4 to— to 

I0to- to 
3to 

141b— % 
23 + % 
3%— 9* 
l% 

llto— to 
12 — 9 b 
25to 

sto - to 

Hto- to 
Mk 

109* + 9* 
B9b 
17% 

15% + Ik 


229*—% 
109k— % 
t29k— % 
to- w 


9% 9V. 9to — V. 1 
59b 59k 59b + to 
35 34% 349* 4- to 
19 18% 189b— to 
S*k 59* 59*— tb 
20% 209b 20% 

6 » t + Hi 

BIB 
,8ik nib lBto + % 
ISto 15% 159k 


19 18% ,894- % 

B 7to Tto-to 
31% 309* 30% 

ISto 15% 15% — % 

119* Uto 119b— to ; 
99b 9% *% — to I 


61 to 399b Kemp 1J0 13 614 
41% 28 KvCnU 1J0 15 2 


8% 49k K*W> 
11 89* KryTm 

Pto 29* KimOrk 
21Vj « Kinder 
149* 49* Krov 
16% 10% Kroner 
291k SVk Kulcfce 


S3 

491 

29 

Ok A 1200* 
M J 60 
72 14 341 
.121 O 385 


11% 5% 
189* 93* 
23 Vk 99b 
IWb 89* 
20% 129b 
181k 11 
17 lllk 
17- 14 

32 23% 

7% 49* 
159k 8% 

99b to 

i ft 

24% 17% 
79b 4% 

209* 11% 
3*to 18% 
36% 27% 
6to 4to 
499b 219* 
259* 20% 
339* 15% 
» 7% 


149* 6% 
llto 7% 
91k Sto 
15 
I3U 
91b 
219b 
79* 
79k 
79k 
18% 
31% 
132k 
3lk 
8% 
19to 
79* 
Ito 
24% 
13 
894 
to 
31k 
30to 
109k 
6 
4 
10 
13 
28 
389* 
10% 
24 
12 % 
11 % 
89* 
119* 

I? 

59* 
49* 
49b 
4 

Sto 
2to 
171k 
24% 
3 

lBto 
Sto 
31% 
19b 
17 
79k 
6 

131k 

6 

26% 
14% 
79* 
99* 
24% 
15% 
*to 
ISto 
29* 
!29k 
119* 


to ito 
171k 10 
4696 33 VS 
879b 39Vi 
3294 199b 
419k 33 
289* Uto 
9% 3% 
19% 129b 
489* 221k 
18% 129* 
Sto SVk 
8 4% 

20, 129k 

34«t 369* 
15. 8% 

16% > 

5 % 


32% Zlto PNC a 


300 

1252 

347 

I 22 

.16 O ST 
M IJ 127 
JO 57 3 

AS 43 22 

72 1.1 20 

41 
50 

78b 4J 30 
128 
5& 

77 J 19 
62 

70 IJ 277 
190 

270 AJ 33 
.16 U 30 
75 J 877 
17B 57 5 

757 
649 


151 

6383 

1 

74 17 4 

17 

734 

378 90 17 

20 

me 147 
579 

JO 45 II 
226 

70 17 10 

60 

66 

170 37 J25 
VS 
1110 

.10 7 2 

1415 
58 
107 
758 

JS 27 323 
23 

75 J SB 

132 

374 

10*1 

1 72 57 48 

1J8 2J 50 

3 

IJO U 37 
JA 18 3 

61 

J0D 3J 63 

242 
345 
35 

06 17 48 

1824 

148 

88 

12 

JO 20 20 

174 37 100 

881 

J4 22 1260 
10 

AO 17 1U 
57 
488 

•’ £ 
J8 18 290 

21 

73 154 

75* 17 88 

20 
286 

17 U 41 

71 4 
.16 U 8 
AS 2J 83 

258 

JO IJ 37 
.10 J UTO 


241 

12 

■78b 37 44 

270 4J 9 

70 1-1 33 

■44 XI 180 

741 J 23 

1 

771 

421 

70 28 1 

305 
300 
411 
1 

72 

52 2.1 * 

JO 17 16 

1.12b 3.7 20 

JR 3 141 
76 7 72 

680 

r 22S 
JO 19 628 
J6 47 1D7 
.44 .9 238 

721 S 6 
5 
,4 

577 

172 BJ oib 
JO X6 517x 

ITO 9J 31 

178 22 217 
35 

M 27 110 
3 


23 

369 

178 27 284 
280 U M 

T 5S S 

Mt IJ ,15 
4 

60 

1D3 

m 

14 

2 20 

70 IJ 30 
27* 18 31 

13 

78 17 123 
75 

I> ~ 

132 47 163 


S5to 55% 559* + to 
289* 38to 391k— to 
to 69k 6to— to 
Sto 8% Bto + % 
3 299 3 

17% 16% 95%—% 
79* 7to 7VS 
Uto 13 Uto + to 
llto m ll + to 


69* 6to 6to— 9b 
181k ITto 17 Vj— 1% 
10 8% «% 

179k 171k ITto 
2S"A 30 20 — 9h 

Uto 14% uvs + % 
15% ,5% 15% 

16% 16 16 — % 
2* 28to 29 
Sto SVk Sto 
89k 9Vi 9to 

l* kift 

2% 2% 2%— to . 
20to 20to 20to— % 
Sto 59k Sto 
15% lBto ISto + % 
37Vk 369* 37 + % 

34% 33to 34% + 9* 
to SVk Sto + % 
<39k 42V» 4294— to 
34 24 34 — % 

II 17% 17% — to 
24 V. 23to 23to 


5 -% 

i 4to-9k 

319* + to 
89. 

25% + % 
8% + to 
llto— % 
99k— to 
20% — to 
331k 
15% 

4 

8»b — to 
31 to— to 
21% + Vk 
19* 

29Vl 

18% — to 



170a 2J 210 

84 

JO 67 390 
57 

.13 20 4 

T7 

JO AS 108 
25 

I 18 
189 
258 

06 J 89 
270 77 8 

J8 26 164x 
05r J5 U39 
1.12 47 12 

838 

.10* 17 1728 
JOn XI 2911 
2 

1356 

JO 17 29 

.82 37 100 

38 
624 
2 


29 

.12 J 237 
238 
747 
61 
7U 
57 

.1* X5 158 
.12 7 7 

170 100 11 

68 
3634 
JO IJ 4 


15*k 69k QMS 
9to 3to Quodrx 
32% 169b Quorum 
51b 3to QueStM 
14 B 1 * Quixote 

16% 7% Quotm 


8*b — to Uto S 
Jltt— to 18to 1296 
21% + Vk 16% Bto 
19* U9* 69* 

29to Mto Sto 

18% — to 7to 2to 
12to 33% 21to 

Sto 20% 121k 

Sto + to 7% Ilk 
35% + to 239k 17% 


llto ; 
9 — % I 
5% + 9u 
14 —1 , 

ISto + % 
369k + 9* 
619* + to 
ISto 

349k + % 
19to— % 


10% SVk 
359* 25% 
129* 39b 

79* 5% 
!2to 4% 

ioto K& 
20% V9k 
18% 11% 
Uto 7 
299b lBto 


179k— to | 439* 29 
1*9* + to 1 ISto 89* 


Uto-% 

6 + % 

6 — to 

39b 4 — 9* 

59* 6 + Vb 


199* 199* — % 
37Vk J71b 
7% 79* i 
18V* 189* + to 
31b 39k— to 


10 39k 

229* Uto 
I7to llto 
339* 249* 
161k 11 
13% 8lb 
25% 16to 
13 8 

894 3Vb 
Hto ii 
19% 111* 


Ol* J 283 
J2 47 176 

m 

5 

5 

12 

1J0 3J 357 
74 ,7 i 
13 
172 

8 

-64 27 17 

343 

70 38 48, 


JO 4.9 22 

TOO 14 240 

06 J 4 
28 

74 27 109 

8 
48 
13 
717 


*2& 4 2to— 1b I 16 79* SAY Ind 


20% 21 
7to Bto + to 
llto nto— to 


17% 17% — Vk 23. 


18 109k SCI Sv 

20% llto SEI 
119b 6 SFE 


20to 6h Sofacds 70 1.1 322 


31% — % I 44to 28 Sotepo 


24 +1 

Uto 

nto— % . — 

31to + to *9k 2% 5aJI 

17to— to IDVk <Vk San 

Uto 8% SVk SatelSV .12 20 6 

18% — to 29 169k SavnFs 240 

2to— to 309k llto 5BKP5 s J4 27 36 

17 109* 6% ScanOp 23 

Mto 14% 10Jk ScoilTr * 

1 25% 159* SchlrnA JO 17 412 
Ato 3% SCIJVUC 74 

209* 7 SdttX 626 

4to 4 4 99k 39* 5eaG0l 76 

Ttk 99b 8% Bto 4 Seagate 3101 

25 349k 34Vk 4to 1% SecTag 17 

459* 45% J5% 79* Ito SEED 113 

18 179* 18 26% 16 SetoM JO 19 3*6 

14% Uto Uto 9to Sib Semtan 5 

14% 14 14 - to 10% 6 Sensor 05 J 1956 

Sto 59k 5Vk 169k 10% SvicMer M A SKI 

3% 3to 3% 75lk 17 to SvmStS JO 4J 534 

3% Ito 2% — to 23 139k Service t 3 

6% 6to 6to— to 7to 4% SvcFref 1 

6 5% 5% — % 10 12% SevOak .16 .9 9 

Sto 5 5to + 9k 379* 239k ShrMed M IJ 1290 

219* 21 71 Vo— to »% 38% Stlwfllt 1J8 4J 83 


15% 79k SafHItk 

,6 7% 51Jude 


1J0 19 232 
I 
42 


75% 38% StPOUl 300 47 631 


Bto 894 894 — 9b 
25 2S 55 +1 

2?!k 28% 28% 

30 28% 30 

17 16 16Vk + to 


31 -1 204* 139* Stle IDv* .16 

894— to 141b 7% SheWli 

35 +1 3Vto 21to StwMVl .15 

28% I5to 10 siianSos. 

30 W* 4to Silicon 

Uto + to 17Vk 9to Silicons 


209k 20% 201k— to 20to llto SlUcVnl 
13 11% llto— % 249k ,194 SIIIOM 
IH Ito ,to llto 41k SIIWC 


Uto u u 

1694 16to 16to 
48% 48 48 


479k 47to 47to + % 129* 8to Sldoaer 

61k 69k 69k— 9b 414 18b SmlttiL 
7to 79* 79|- to M 3M society 


159* Uto !5Vk + to zito Uto SoctySv 
18 ITto 17to ISto 6Vk Sottech 

3Xh 32 32 — to Sto Uto SoftwA 

27 Vk Zl% 37% — % 38Vk 189k SonocP i 
SOto 49to 4W4— 1 271b 14% Soar 

Sto Sto Sib sto 4 seHocp 


38% Sbwfflt 1 JS AS 83 
12to Stic I0v* .16 9 31 

7to Shebltc 33 

21to ShoMVS .15 J 247 
10 5IWHSOS. 33 

260 
123 
227 

11% Shneln JO 57 16 

re 
72 

89* 5ktoaer <08 J 79 
18b SmlthL 376 

32V Society 1J4 18 1B4 


Mto 1194 SIIIom 
Uto 4to si 1 tec 
1796 11% Simula 
159b 11 51 pains 

24% 12% Sinters 


43% 4314 u 8 SvmbT 

11% 119k + Vk Uto 6% Svmech 
32.. 32 — ^ 58b 2Vk Svnlrex 

13% 13% — % ib% Uto Syseno 
Ato 61k— % 10 SVASOC 

22H 22V 7% 3Vk Svslln 

13% I3%— Ik nto 694 Sysinto 


to 59* 251k Uto Svstmt J J II 

lOto 11 I 

T7Vi 17V | f 

139b 138k— % ■ 

7% 78k 14 8 TBC 12 

30% 30%— V 25V 13 TCACb .16 J 63 

2Sto Uto— 1% 7to 39* TocVIvS 1 

10 lOVb— Vb 288b 12to Tandem 6285 

25V 26 — Vk Bto 28k Tandan 10B4 

7to B9k + to 11 to TcCom 8 

Bto 88k 22 10% Telco 26 

16% 168k 34% 20% TIcmA t 4422 

2to 2to 128k 6to TfHPIus 487 

24to 25 + % 75 13to Telecre 72 1 A 137 

22 22 —9. mb B8k Telpcts 634 

33to 33% + to 4% 194 Tehrld 81 


Sam in ho 

Ply. Yta 100s Htah La J PAL Olb* 

40 8% 8 8V + 1* 

B7 link 10% 10% — to 

33 Sto 3'.b 3to— % 

JO 1.7 * 17to 17to 17lk 

21 Uto 10 W 

5 Sto Sto Sto— to 

34 109b IDto lOVi 

J J 11 24Vk 24 24% + % 


33to 33% + Vb 4' 

U 11 — to 20 

ISto in* lr 

2to 23% 11' 


4% 19b TeMd 

20 Bto Telatw 
ITto 89* Telxons 
11% 3to TknriDl 


Oto 23to „ n% 3to TermDi 
18k 2!b— Vb Mto 89k TherPr 
IQto 1094 + % 139b 6% Thrmd 6 


!2* '5 

E 32to + to Uto 5 
8to Bto- to 28to 5 

25 L. + J 4 153i SI 

8to 8to— % u V 
56 56to— Ito 29* ' 

1196 1194— Vk 17to 8 
4to ,48k + % 30 B 
36 36 179* 10 

12 12 — to 121b 6 

17Jk 1796— to 30% 20 

69k 49*- % 

22% 22V— to I 


209k ISto ThrdN 5 
14M Sto Thorlec 
29 Vk 51k ThouTr 
1594 61k TlmeEn 

14 894 TmeFIb 

29* % Tlprary 

17to 8 Tofu s 
3B B TollS VS 
179* 10 TrnfcAu 
12to 6% TrladSv 
30% 20 TrusJo 


1 24% 18 
24% 139* 

7Vk bto 69b — % 20% 5 

7% 7to 7% + 9b 2JVk 10% 

21% 20% 21% + »k ISto 7% 

4to 49* 41k 29to 14% 

14 1394 I31b 52to 22to 

159k Uto Uto— 1% 258b llto 

119b B9k 

j 281b 21to 

6% 5'it 59k + % 22% Uto 

Uto 141k 14% T3to 794 

13 ITto ITto— % 5% 29* 

’IL 'L 32 Zlto 

Tto 7Vk 71k 4to Ito 

41b 4 4 6 29k 

30% 28to 28% 339* 11% 

191* 18 19 — % J9b 3% 

Ito 18b Ito- to 22Vk 109* 

209k 201b 209k + to 37Vk 25% 
Sto Ito Bto + % 25% 17% 

28% 2794 28 + % 25 Uto 

im 10to I0to— Vk 48% 32% 
Sto 5% 51* — % 22 14% 

4% 4% 4Vb — 9* 20 Vk 99* 

99* 9to 99* + Vk 13 684 

1,9k 119b 11% — Vb 6% 3% 

18% 17% 17% — 1 

79b 79b 7to I 

26to Uto 2 Sto + Vi 

38% 38% 3B% + % Mk 49. 

U ISto 15to UVb 7% 

4to 4% 6to + to 12 41b 

22, 21% 219k M9k 7 

Mto 14% Mto + lb 20% 6 

29 28Vk 29 228k 8% 

Kto 128k 179k 42% UVk 

91k 91* 91k 34to 19% 


13 684 

694 3% 


JO 37 6 

IS 

74* J 13? 


um Al 5A 
1-50 xi 253 
74 J 464 
.1ST 17 24 

178 4.5 210 

92 
4 
81 
BO 

170 38 134 


98k *% VLI 
Uto 7% VLSI 
12 4to VMX 
119k 7 VSE 

20% 6 Valid La 
228k 8% ValPSL 
42% Uto vaiNtr 
Mto 19% vaILn 


a 

511 

.16*17 « 

*S 

170 XI 634 
JO 2D 31 


2494 23% 239*— % 18% 11% VanDux JO 27 344 


10% 91k 8to 

49k 48k 4% + % 


15% 4ta Vanzetl 
Ato 2to Ventrex 


llto Uto Uto— to 2*94 13% VIcorp 


175 

223 

,12e 7 a® 


14 7to Vie deFr 72e 19 
Uto 9to Vlfclna 
20% 13% Viralek 
129k 594 Vodavl 

22 UU VoHInf 


11 IS? I2> — " 22 U% Voltll 

13 12% 12% — 9k 

20% 19% 1994— to B 

7% 7 7 ■ 

18 , 18 IB 25% 179* 

17% 179k 1 71k 16% 10 

40”* 40% 40% + to 13% 514 

121k 12to IS 1 /* * to 25% 179* 

15 14% IS Uto Uto 

7im 7Bto 70to + to Mto 108* 

6 5% Sto + Vk 9% 6 

5 to 5to sto — to u% into 
6% 6 4 + % IBVk 78k 

29% 20% 2?to + to 179k 5% 

20 18% 20 -f to 10% 5% 

BH 8% 8% 14% 5 

ISto 159k ISto— % 21% ISto 

24% 239k 23%—% ITto Sto 

4 3to 4 34 % 33% 

8% Sto 8% 68k 3 Wl 

4% 4to 4to 13V* 3 Wl 

A to 5% 46% 30Vk W 

19k 1% 1%— to 15% 79k W 

29k 7 3 1794 B94 

2tJto 19% 20to + to 10% 49k 

6 6 6 — W 78* Sto 

78k 78b 78b— to 24% 14% 

139k Uto Uto— % 2144 11% 

18% 18% lBto — % 29to 21to Wo 

19to 19to 18to Mk 6% WTi 

4to 48k 49k -F % 309k 218* Wv 

17 17 17 

Uto 34to 349k— Ito I 

378b 37% 379b + % ■ — — ■ 

lBto W* lBto 9% Ito xebei 

9% 9to 9% + Vi 13% 594 Xlcor 

25V» 25% ISVk 17% 10% XMu 

11 1094 10% 

494 4% 49k— lb I 

,099 109k 109k — 9* " „ — ; 

14 13V4 1394 23to 14% Ylawl 

’ii* 49* %k=a i — 

lf% u 4, 11% + 30to 5% ZenLi 

iss&i&zs sr# 


.96 57 89 

74 1.9 120 

47 

176 SO 74 
60 Z4 511 
946 
419 

JO 35 20* 

168 
IA 

127 

JO 27 1 

7154 

.88 34 163 

384 

165 37 12§ 


73! e 
JO 4L0 i 

JO 4J 2 

J4 2J lfl 

.15* IJ 3 


17% 10% XMu 


9% 9'b 9% + to 

259* 259k 259* +■ to 
Sto 3to 3to 
16 149k 1594 + to 

39* Sto 38k— !b 
U lOto 11 
12 11% 1194— to 

?t 2 US- to 

,i a, r + £ 
1 ft *« + * 

ID 9’k 10 + ■* 

10% 10% 10% 

269* 26 Uto — to 
B'k 794 7%— to 
6*k 61k 6to— V* 
7 to 7% 71k + to 
14 13% 13J» . 

to re ♦ to 

Uto 11 11% + '* 

2B 27 28 +,to 

11 10% m% 

8 7to 79k- to 
2594 25% 25% 


24 24 24 

UVb Uto Uto 
89k B% 8% — Mt 
Uto 13'k Uto + to 
12% 129* 1791— to 
Uto 36% Uto — % 
489k 43 48to + % 
22% 219* 22% + to 
9 Bto Bto — to 
24V* Z31k 23% f to 
7% 7v» 7to + to 
ir% 17 1 * 17% — to 
11 ,0'k ll +to 

Sto 41b 4to— -» 
27% Ito U9k— to 
3 2to 2to 
3 3 3 

28% 28% 28% — % 
4Vb 49b Hk 
169k lAto Ifrto + to 
3597 35 359k 

21% 21% 2193- to 
2491. 26% Mto. 

418k 419* 41to t to 
W'b 19 19 

139k 13 13'b 

11% 10to 10% + Ik 
59k 5% 5% — to 


6% Sto Sto — to 
11 105* 1001— to 

49k 4% 4% + to 

8Vk 8to 9Vk + to 
78k 79* 7’k 
IS 149* Uto— to 
39% 39 39 + V* 

20Vk 20 20 Vk 

IBh 17% 18 
4% 49* 4% 

58k Sto Sto— to 
17% Mto 177k ♦ 'k 
79* 7Vk 78r + to 
13% 12% ,29b 
19% 19% 19% — 'k 
7 tto 6?k — to 
18% ITto ie% + % 


lBto ISto lBto 
1291 !2to -ITto— % 
9to 9to 9to— ■* 
22to 2191 22 —Ik 

259* 2Sto 25% + to 

lJto 13% 13 k 
TVk 7 7b + to 
Uto n% Uto 
17*1 I7to 17b — to 
uvk uto Uto 
7 7 7 + ’•» 

129b 119* !2Vb 
17% 17% 17% 

8to 8 »%— V4 

32% 22% 32to 
3to 3% Sto 
49* 49k 49*— to 

*4% 44% 44% — % 
13% 13to 131k 
1 Ah 16% 1 Ah — to 
Sto Sto 5?b — % 
3to 3% 3to 
15to Mto 15'b 
!2to 12 12to + % 
2Sto 24to 25’b + to 
8% 8% BV4 — % 

2T* 21 to 21 to— % 


2 Hi Ito 2to— to 
71b 6% 7 — to 
IZto !2*b 158* 


23to 14% YlowFS 74 13 446 23 % 22% 23 to to 


30 Vk 5% Zen Lbs 
13% lOto Zlealer 
41% 31 Zion LIT 
69* 2h Zllel 

Uto 3^ ziyod 
15% Ato Zmdvn 


3Vk 28* iVi + lt 
4B96 flto 48% + % 
21 to 20% 20% — to 
8% 7% 8% + to 


437 

JSa 3J 14 
17* 37 1S6 

M 

51 

-081 J 263 


20% 20 Mto + % 
I2to 12 12\k t % 

42% 41% 42% + 'k 
2Vk 2 Ik 2% 

6% i A — to 
11 10% 11 + % 


50% 491b 4896—1 271b 14% Sanr 

Sib SU Sib Ato 4 SoHotp 

5% 59b 5% + to S. ZBto SihtIFn 

Ifito 16 16% + % 3S9* Tito SouIrSt 

99* 98b 98b Ato Sovran 

796 7to 78e— to 31 to 22% Sovrans 

- 19% 10 SssssS f 

I 28% 8% End ran 

— ■ 8% 59* SoecCH 

TV? to »- to 1Mb IW* 155^ 




B9 

13% 

139k 

13%— % 



38% 


2*Vk + % 

JSe 27 

20 

179* 

179k 

17% — V, 



65 

49k 

49k 

49b 

72 

2J 

ST2 

22% 

219b 

22 

JO 

as 

66 

17% 

17 

ITto — % 

.10 

ii 

284 

6% 

6Vk 

6% + to 


EC Inflation Declines 


I«k WU nto + « u 3Vk stnrsrs 

9% 5 State IF 70 17 

S8 ST* 3P i t, v » 3fi.. iWiStandv \m a? 

S. S, +1, 23% 11% StdMIC 

299* 289k 29*k— lb 27 >A stmt 

25Vb 249* 249b— % 34 U, 108b SloS 

k'L * 6 - % Mb Mb StOtl 

“ JS? JSJ- W 78b Jto SMlswr 

Wt «S — ft lBto 119b StewStv 
13to 13to— to 25 179k Shvlnf 


Ato 69b 69* 


BVk 58b 5I1MI 


to 6— }b IBVk 8% Stratus 
ills JS2 t S "to 29to strSa* 76 27 

>Jto oi* +■ vb nvk i39b strvkr s 

|SJ iSJf" y 171tol06% Subaru 278 IJ 

Uft 1*1 URk- to 72 39% SubrB 1.92 27 

Z| to 496 riksumnn 

I uto 7% SumiHl 
lb SonCst 

^ „ 10Vk 49k SunMAd 

29»* 29 299b * Vb 10% 7% SupWcv 


930 

17 

783 

07 .9 m 

20 
22 

70 27 3 

IM X? 4 
478 

170 SJ 3*8 
JO 53 882 
.15b 36 16 

21 
2 

.72 XI 4 
5 

1458 

76 27 115 
112 

278 IJ 39 
1.92 27 374 
192 

.10 17 05 
100 

37 


27 26% 26% — lb 

17% 17 17 — '<• The OrttmateJ Pens 

TPA 21% 21% + Mi _ „ , . _ . 

iJto uto uvS- % BRUSSELS — The average annual inflation 
6% «* ito + % rate in the European Community eased to SJ 
2 ?$ 27% 27 % — IS percent last nuuuh, the lowest rate since 1970, 
a% 22 ^ 22 % + 5 ihe EC statistical agency. Eurostat, reported 
30% so 3m + v* Monday. 

4% 49* 4 V* ^ 

lit* i4to 14% - to Th® ECs average inflation rate was 5.7 per- 

v^nl a year ago and peaked at 6.1 percent last 

iSvk iB ib% April. 

34 339* K 

Eurostat said Lhat nearly all 10 EC states 
1% ^ * contributed to the slower pace of inflation in 

fiS il£ ?% + Sqjteraber. the only exception being Greece. 
s% mi. 89*— % where prices rose by 5 percenL 

89k 81k 81k 


S9k 5% 514 
14% 1416 14% - to 
23 23 23 

6% 68b 6% 

IBUi 18 18% 

34 33% 339* 

219* 21% + to 

160 159 ,59 —1 

1 to* 7 *-* 

89* 8% 89k 

1% Ito 1% + Vb 





16 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 22, 1985 


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MAKING 1415 HISTORIC 
FLIGHT ACROSS TUG 
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5EE THE BVRK UJATER5 
OF THE ATLANTIC... 


TOUR UWJEK PISH 15 
GETTING L0UJ..I THINK 
|'t7 BETTER FILL IT... 


THE RARR WATERS OF 
THE ATLANTIC PI5APPEAR 
BENEATH HIS PLANE.. 


BOOKS 


THE REAGAN DETOUR 



By Richard Reeves. 141 pages. Si 4.95; pa- 
per . , $7.95. 

Simon A Schuster, 1230 Avenue of tive 
Americas, Hew York, N. Y. 10020. 


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BLONDIE 


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V THE R/WtOL-1 

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for rr k/V 


BECAUSE IT'S A < 
■ WORK OF APT? 


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ITASTES LIKE 
I OCX? CANVi AS 1 , 


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ACROSS 54 Educ. group 27 iron 

■1 A cause of ruin SS^ mgof1 . 943 29 au,ait 

*5 Egyptian « The of 30 Lower East 

* goddessof cc ^V? lc _ ^ Side delicacy 

. fertility «5 Serf's preceder .32 Wilson, 

i 9 Old shortstop “Penythe singer Johnson, 
Manors H 68 Drift . Carter el al. 

: nic knam e 6» Croat, e.g. 33 Rear 

14 Mideast land 79 appendages 

15 Wait 71 Grier of 34 Subject of a 

16 An Indian gridiron fame 1941 hit song^ 

language 72 Companion of 35 Orchestra 

17 Little ones hearty — 

18 "The Rome of 73 Cookware 37 Miss Kelt 

19 Mountain 923?N 42 Opening words 

ridge 1 A science: °* a ^ 

20 Hit song of 1943 Abbr. son 8 

23 An Ivy Xeaguer 2 Island off China 43 cole Porter hit 

24 At wits’ 3 Treaty gp. song of 1948 

25 Thing, in law 4 Result 48 Little 

28 Kind of hand 5 Hit song of 1953 Echo of 

31 Fort of fame 6 Omen songdom 

36 Behold, to 7 Brainstorm for 50 Aunt or 


BEETLE BAILEY 


section 
37 Miss Kett 
39 Sp. miss 
42 Opening words 
of a 1941 hit 
song 



I'M ALSO 
SORRY I 
BROKE YOUR 
A* TRYING 
TO CUT 
v THEM 


25 Thing, in law 
28 Kind of hand 
31 Fort of fame 
36 Behold, to 
- Claudius 
38 Clibum and 
Johnson 
46 He wrote "A 



HE'S SULKIhfcS \ 

BECAUSE YOU L 

Sail? HIS S 
MEATBALLS / 

WERE l APOLOGIZE 

\toush 


By Jonathan Ysndlcy 

R ICHARD REEVES is not buying die ar- 
gument that die election and subsequent 
re-election of Ronald Reagan marie a historic 
turning point in American political life. The 
massive realignment so devoutly prayed for by 
Republican strategists seems to him a most 
unlikely prospect. His central theme in this 
slender volume is that Reagan, is a fluke — a 
fascinating and impo r tant one, to be sure, W 
one the historians wfll have to icdron. with, but 
a fluke all the same. As be pats iu 
“Reagan proved to be a principled and de- 
termined leader who won many battles, but 
lost his war to change the American direction. 
The Reagan years would be a detour, necessary 
if sometimes nasty, in the tang progression of 
American liberal democracy. • Americans 
seemed destined to choose political and social 
individualism over economic individualism, 
ffintimring to uphold and defend government, 
sometimes grudgingly, as the roost trustworthy 
available protector against accumulations of 


Solution to Previous Puzzle 


8 Boris Becker S3 Store away 


nephew: Abbr. ANDY CAPP 


41 Hit song 011958 

44 Gladden 

45 This, in 
Barcelona 

46 Prop for 
"Citizen 
Kane” 

47 Satisfies a debt 


boomer 
9 Carmichael 
classic since 
1929 

10 Carefree 
activity 

11 Closing word 

12 Josif Broz 

13 Large amount 


secretly 

55 Organization 
of Calm, Styne 
etal. 

56 Chess champ 

57 Department of 
Honduras 

58 Choices for 
Cassatt 


.CARE FOR' 
>SOME 

L DEOKP ) 


SHE'S WALKED 
. OUT ON ME j 
> — I'M A —C 
( FREE AGENT J 


[THIS FREE 
AQENTj, 

('/VKYTHir-iS 

1 Bur > 


DON'T WX 


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wealth and the other sources and manifesta- 

nothin *° ox»d» 

that tbacisaftaeUne between analysis and 
wishful thinking, and that Reev es ma y 
have crossed it in the wrong r&cctia^rie 
dearly befieves. asa statistical «udy punned 
in 1968 that "at the practical level of 

govennncntoperatioQs, there has , be ““ , , 1 ^l 
GraMe trend in liberal directions m the Vos tod 

States since the New DeaL” and his own analy- 
sts of the Reagan phenomenon « daply «rflu- 
euced by tiwtbefef. Heaves the devil h» doc, 
p raising Reagan as politician, national Kaaer 
and spokesman for conservative i de as, but he 
is convinced that once Reagan has la t the 

White House the United States wffi revert to its 

post- 1 930s pattern of gove rn men t al acuvian. 

As Reeves is at pains to pomt out, there 
sersns to be a considerable gap betiwosu pobwe 
support for Reagan personally and politically, 
and for Reagan the ideologue who wants 
Americans "to put their government 
their r nf ” > hc wan — to mean it, as be did, 
when they said, ‘Government is best tlui gov- 
erns least.' ** But Reeves fails to dis t inguish 
deariy enough between pub&c support for gpy- 
enubent programs that benefit Rogai's nud- 
dle-dass constituency and public indifference 
toward those that seek to improve the lot of the 
welfare W unemp loyed classes. The la t t er 
programs constitute the traditional New Deal 
liberal agenda; Reeves fads to argue persua- 
avdy that liberalism is strong enough to 
make a comeback in the post-Reagan era. 

He ir on fi rm er ground when he contends 
that this post-Reagan era is almost certainly 
going to be different from what conservative 
Republicans hope. He sees the GOP as "an 
atom — a series of concentric cirdcs around an 
elect roma gnetic tntd «c ‘Roodd Rear 

gan,’ " and, he suggests, "pull out the center, 
the nucleus of the whirling mass, and the whole 
thing; might implode:” Reeves understands 
that Reagan's constituency is his own, sot has 
party's, and that when he 'leaves the scene the 
country is less Hedy to continue bis conserva- 
tive revolution than h is to resume the centrist 
policies that have dominated postwar politics. 


21 Honorary law 59 Nine: Comb. 


49 Hit musical of 22 Quartet in 


the 60’s “No, No, 61 Of an age 

51 Fourth-yr. Nanette" 62 Pepele — 

students 25 Allude fiction 

52 Negative 26 School for 63 Give off 

prefix Simone 67 Switch pot 

£ New York Times, edited by Eugene Moleskn. 

PgWWS THE 


form 

60 A membrane 

61 Of an age 

62 Pepele of 

fiction 

63 Give off 

67 Switch positions 


f WHAT 

L*STj 

LmissusP 


Jonathon YartOeyison the stiff of The Wash- 
io/ 22 /as ington Post 


CHESS 


WIZARD of ID 


WP 


WWrfej 


■ a a wm 


-s - t By Robert Bymc 


O PEN tournaments differ 
less from round-robin 




yp 




M>\;m w 





REX MORGAN 


HAS MR- BISHOP 
- ARRIVEP YET-7 . 


YES. DOCTOR f 
HE’S WITH HIS - 
WIFE AND MRS. 
L7 LAWRENCE / M 




W 'Jam 

isM 


Tot£> yoi/ov&e you'll feel 

f PHOME THAT f IVAAPTEO VOl/J BETTER IF YOU 
[ TO B&///G Aty CIOTHES/ JJfif TAKE THIS 
3 WMy £>/£>ATT you BP/MG M MEDICATION DR. 
| THEM ? I'M GPTT/A/G OUT J///V MOKGAH < 
1-rOP PEPS TOW GPT/^ M! 

3 in hi t ^TTMl Ldrin * 7 pl5HC3r f T 




jgl?AgL6' ■ 
iElXiStoU*: 
Vb fffSZr- 


1 JO-^L 


’YOU LEFT HOUR KITCHEN WINDOW 
UNLOCKED AGWN.MR.MlSONI' 


GARFIELD 


THAT SCRAMBLED WORD GAME 
• by Henri Arnold and Bob Lee 


Unscramble these lour Jumbles, 
one tatter to each square, to form 
four oidinary words. 


YOILD 


JAHAR 


UMPAKE 


GYRINT 




competitions than they used to, 
even thraig h the base differ- 
ences remain. Because they 
make use of Swiss system pair= 
mgs. open tournaments have 
always been able to accomo- 
date vast numbers of players in 
as tittle as 10 rounds totaling 
one less than the- number of 
entrants. 

The Toronto Internati onal 

Open, held at Trinity College 
was graced by the presence of 
the former challenger for the 
world championship, Viktor 
Korchnoi, who came from 
Switzerland. He tied for first 
place with the Canadian inter- 
national master Igor Ivanov. 
These two who had formerly 
been Russian compatriots, 
scored 7-2. 

They were followed by three 
international masters, afl dose 
to achieving grandmaster rank: 
Joel Benjamin of Brooklyn, 
Maxim Dingy of Queens and 
Kevin Spraggett of Canada. 
The three shared third place by 
scoring 6V4-2I4. 

One of Korchnoi's best per- 
formances in Toronto was his 
defeat of Igor Shtem of Dallas. 

In several recent games, the 
response to 5 . . . P-QR4 has 
been 6 P-KN3, but Korchnoi's 
6B-N5 may give better chances 
to obtain the initiative. After 
6 . . . P-R3; 7B-R4, Shtem 
might have tried 7 . . . P- 
KN4!7 8B-N3, N-K5; 9P-K3, 
B-N2; 10 B-Q3, P-Q3; II &-0- 
01? with a complicated, midcar 
game. 


The one disharmonious 
move in Sb tern's opening setup 
was 8 . . . N-B371 Mach 
. smoother would have been 

8 . . . PQ3, followed , by 

9 . . . QN-Q2 to reach a posi- 
tion rimflar to what Anatoly 
■Karpov got against Gary Ka- 
sparov in their seventh world 
championship match game. 

The retreat witfi 9 . . . B- 
K2?! did nothing to anticipate 
congestion in the black posi- 
tion. Shtem should have pre- 
ferred 9 . . . BxNch; 10 QxB. 
N-K2, aiming forll...N- 
N3 and 12 . . . P-Q3. 

The faults in Black's strategy 
were exposed by KoidmoTs 12 
P-Q5! Now 12 . . . N-Nl; 13 
PxP, PxP; 14 P-B51, P-Q4; 15 
PxP, PxP would have yielded 
Whne targets for attack at QN6 
and K6. StilL, opening the QB 
file by 12 . . . PxP; 13 PxP 
was hardly better. 

It would certainly not have 
been pleasant for Shtem to be 
saddled with a backward isolat- 
ed QP after 14 .. . P-B3; 15 
PxP, NxP, but his alternative 
with 14 . . . QN-Q2 left him 
with a vulnerable backward 
QBP. Korchnoi’s 19 B-B61 did 
not permit Black to shield his 
weakness by 19 BxB?; 20 PxB. 




ill ■THm 

I' H ■ 


■_b"bT@ 


. rvM v o afpertt NO 

ora was dot about to let Shtem 
fight with 31 RxB?f. NxP; 32 
B-Q6, NxR;T3 BxN. R-Rl . In- 
stead, he gave bos Idng air with 
31 P-R4. 

One of the scintillating 
points of Korchnoi's 33 RxP! 


was that 33 ... . KxR; 34 Q- 
Q7d», B-K2; 35 N-Q6ch, K- 
Nl ;36 QxB leaves- Blade with- 
out a defense to 37 QN7mate. 

Another point was that 
33 . . . RxR; 34 QxPcfa, K- 
BI; 35 N^Q6!, BxN (or 
35 ... Q-R2; 36 BxBch, R- 
K2; 3TQ-B6ch. K-N!; 38 BxR 
mil corbel Black to drop a 
piece to ward off (he threatened 

mate 

Thus, Shtem gave up. 


N-Nl, since 21 P-N5 perma- 
nently traps the black QN. 

Ater 24 R-RI, Korchnoi 
owned the critical QR file, and 
after 24 . . . B-N2; 25R-R7, a 
classical seventh-rank attack 
took shape. There was no help 
for Shtem’s riving, up a pawn 
by 25 ... BxB; 26 PxB, N- 
K4; 27NxN, PxN; 28 BxP. 

After 30- . . . Q-Rl,Knrch- 


ar-sa 52 


i m« w m m 
m M M n 
u m Mi a tar 

sH ^ sss 

m uu. mm n hi 

U MB Ml St Ml 


XT Ml BJI 


W)rld Stock Markets 


New arrange the circled letters to 
form the surprise answer, as sug- 
gested by the above cartoon. 


Via Agence France-Presse Oct. 21 

Closing prices in local currencies unless otherwise indicated. 


Answer here: 


Yesterday's 


(Answers tomorrow) 

Jumbles: RAVEN MOCHA INFECT OPPOSE 


Answer "Can you rail me what Napoleon's origin 
wasr — "OF CORS-t-CAN" 


WEATHER 


EUROPE 


Alvarve 

Amsterdam 

AHUM 

Barcelo na - 

Betprade 

Bert in 

Brautb 

BucMrett 

Badannl 

Copenbaaea 

Costa Del Sot 

Dublin 

MMursb 

Florence 

Prcmkfufi 


Banekak 
Bel nog 
Km Km 
Maafla 
Hew DeiM 
Seoul 
sbanuMi 


LOW 
C F 
U 71 ll 


17 63 S 41 
26 » SI 70 


33 91 24 73 
29 M W 41 


17 63 A 43 
II M IS SI 


32 90 24 7S 
27 SI 25 77 


20 IB 12 54 


AFRICA 


ABN 

ACF HoMfna 

AEGON 

AKZO 

Ahold 

AMEV 

A*Dom Rubber 
Amro Bank 
BVG 

Buehrmann T 

Cahmd Hldu 

Elsevler-NDU 

Fekkar 

Glsl Brocades 

Helneken 

Hooaavem 

KLM 

N Darden 

Nol Nedder 

NedHovd 
Oc* Vander G 
Pakhoed 
Philips 
Robnco 
Rodamco 
Rollnco 
Hot mi to 
Roval Dutch 

Unilever 
Von Ommersn 
VMF Stork 

VNU 


Ndrpener 

Hocntlef 

Hoechat 

Hoesch 

Horten 

Hussal 

IWKA 

Kail + Sab 

KorsJodt 

Kouttwf 

Kloecknor mi 

Kloedner Werke 
Kruma Stahl 
Unde 
LuHhonso 
MAN 

Mawiesm o nn 
Muandi Rueck 
Nlxdorf 
PKI 

Porsche 

Pnstrssaa 

PWA 

RWE 

Rhetanwhsll 

Sdierlno 

Stamens 

rtivsien 

Vebo 

VaUcswaflenwerti 
Wei la 


Hlveld Start 
Kloof 
Nodbank 
Pres Stem 
Rirjnlat 
SA Brews 
5t Hrlcuo 
So sol 

west Hokltng 


1750 1740 
3575 3500 
2910 2325 
585 580 
2375 7325 
1120 H40 
6S50 4400 
2435 2400 
7S5 7*5 
3550 3500 
845 947 
7000 7000 


Sainsbury 
Sears Holdlnes 
Shell 
5TC 

Std Chartered 
Son Alliance 
Tat* and Lyle 
Tosco 
Thom EMI 
T.t. Group 
Tratamar Hsr 
THR 

Ultramar 
Unilever! 11 
United Biscuits 
Vickers 
Wool north 


On* Pro*. 
348 34B 

IOPMt IWVr , 

490 494 

76 74 

457 454 

483 493 

500 485 


384 381 

397 397 

357 342 

142 142 

1M 1M 

19/3211 35/64 
189 18* 

310 315 

525 521 


F.T.3B Index l T«U0 
Provkm : lesua 
F.T&E.100 index : IMIJO 
Preview : lMuo 


Cold Staraae 

Fraser Neave 
How Par 
In ch ca p e 
Mai Bankhio 
OCBC 

S UB 
UE 

snanarHa 
Slme Darby 
S'pare Land 
STBarePross 
S Steamship 
StTrwUna 
United Overseas 
UOB 


320 3.14 

s s 


Full Bank 
Foil Phots 
FOlltSU 


Hitachi cable 


2J0 ZIC 
5.90 5.90 
BAS 830 
17* 2JS 
125 22Q 
N-Q. — 
184 UK 
144 132 

A® *4(8 
UM OSS 
3JB 184 
Ml 140 
14* 143 


Jaaon Air Lines 
Kalima 
Kansal Power 
Kawasaki Steel 
Kirin Brewery 
Komatsu 
Kubota 
Kyocera 



Canadian sknb tsi AP 


Sales Stack 
5202 Abtt Prce 


24300 Aon Ico E 
3®3Aoro Ind 


AoralndA 
7882 Ait Energy 
300 Alta Nat 
^<5At»omo5J 
23030 AlOO If 

295 bp Canada 
384*2 Bank BC 
111933 Basic KS 
65043 Barrtdto 
Togo Baton A/ 
3)7097 Bonanza R 
S3&0Q Brolcme 
1B48 BnmolH 
500 Brando M 
•0B7BCFP 
40277 BC Re® 
11125 BCPhaac 
t700Bnmmk 
49S Bodd Can 
32888 CAE 
200 CO- A 
3645 Ca B f 
4584 Cad Fry 
3143C Nor West 
300 C Pesters 
1700 can Trust 

raroci Bk.Com 
42383 CTIraAf 
TOPIC Util 8 
700 Cara 
2731 Cetanwe 
74socentriTr 


Matsu Elec tads 
Matsu Elec Works 
Mitsubishi Bank 
MilsuMshi Own 
Mitsubishi Elec 
Ml tsubipd Heavy 
Mitsubishi Cora 
Mitsui and CO 
MHsutashl 
Mitsumi 
NEC 

NGK Insulators 
Nlkka Sec 
Nippon Koaaku 
NtPPanOil 
Nippon Steel 
Nippon Yusen 
Nissan 
Nomura Sec 
Olympus 
Pioneer 
Ricoh 
Sharp 
Shlmaaj 

Shlnetsu Chemical 
Sony 

Sum (tamo Bank 
Suml toma Cbem 
Sumitomo Marino 
SumttQmo Metal 

Totsei Corn 

Tabha Marine 
TakedaChem 
TDK 
Tallin 

Toicta Marine 
; Tokyo Eiec Power 
Teppan Prtnflm 
Torav Ind 
Toshiba 
Toyota 

! YamaicMSec 


Straits Times Ind Index : 777.6% 
Prevloas : 748.14 


Com pasta Stock index : 1227.18 
PrevftKis : 1220JQ 


MBan 


Commerzbank Index : 1675310 
Previous ; 167140 


Blue Circle 
BOC Group 


Aivtan 

Cairo 

Cope Town 
Casablanca 

Harare 

Lavas 

Nahum 

Toots 


26 7* 12 54 Cl 

28 B 14 57 fr 

24 79 12 54 a 

23 73 15 59 


ANPXBS Gent index : Z16J8 
Previous : 71*40 


28 82 13 55 fr 

29 84 22 72 Cl 

— — — — «0 

25 77 14 57 d 


LATIN AMERICA 


Urn 21 
29 
22 
34 
31 






pM 



wammm 








Bk East Asia 
Cheung Kano 
China Llahl 
Green Island 
Hang Sena Bonk 
Henderson 
Chino Gas 
HK Electric 
HK Realty A 
HK Hotels 
HK Land 
HK Shana Bank 
HK Teiesewne 
HK Youmatei 
HK wharf 
Hutch Whampoa 
Hvsan 

Inti City 
Jardbie 
Jardlne Sec 
Kowloon Molar 
Miramar Hotel 
New Wand 
SHK, Proas 
Stem* 

5 wire Pacific a 
TalCheunB 
woh Kvmna 
Wlna On Co 


2120 22 
I960 1*.40 
17 JO 1650 
B10 820 

4175 4150 
135 2J0 

1170 tOAQ 
870 810 

1130 T2J0 
14 35 

665 665 

7-25 7.1 S 

9.10 875 
130 120 

7JJ 7JJ 
2840 2460 
062 063 

0.97 898 

13 U 
14.90 14.90 
10 9.9S 
*4 4460 

7.75 7 80 
1140 1140 

260 155 

2760 2680 
in* ;im 
084 066 

16* 163 

4.75 475 
1*0 1375 


Banco Comm 

Centime 

Ctaahoteis 

Cred Ital 

Ertdanta 

Formliallo 

Flat 

Generali 

IFI 

italcementl 
l la loos 
ilulmohlllwl 
MedlobrnKO 
Mon lad Hon 
Olivetti 
Pirelli 
RAS 

Rtnascenle 

SIP 

5ME 

5nla 

sianda 

Stet 



AGA 

Alfa Laval 

Asca 

Astra 

Atlas Copco 

Sodden 

Eledraluk 

Ericsson 

Esselte 

HandeiAanken 

Pharmacia 

Saab- Scania 

Sandwlk 

Skanska 

SKF 

.SwedlshMatch 

Volvo 


138 134 

206 284 

294 2*5 

430 428 

128 125 

10 I8t 
149 148 

198 193 

340 3SS 

194 no 
167 167 

N-Q- *23 
473 408 

9150 9150 

341 240 

218 214 

220 2IB 


AHoenvnertden index : 389JN 
Previous : 387.18 


MIB Current index : 1737 
Previous 1 1649 


104 295 

5JD MO 
824 878 

150 152 


^■NuWstlP A 

|OT0 Gatewood I 
|400OmnOxn a I 
■432(tahawaAtl 
hiosoPacWATrln 
21480 Pamour ■ 
I 729tPanCanPl 
7002D Pine Paint] 


Hana Seng Index : 146806 
Previous ; 143*69 


NBdwt/D-r. tag : isnui 

Prevtoui : 72T73J2 
Hew Index: H3U8 
Previous 103677 


8100 C Dtslb A 
xincoistbBt 
26600 CTL Bonk 
TOOConwest A 
S»GMMR 
7940 Crown* 
13700 Par Res 
B8375 Doon Dev 
SCCDaorrA 

S Deolson AP 
DenlsonBf 
9925Devetcon 
5530 Dtdonen A.» 
.Dlckmn B 

34155 Doftnoo 


1 



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100 Da Pont A 


S19VS 19 ■ IV ~ lik 
*23 22 77 

H4W 3676 Vi 

S14« UVx 141k— Vk 
«5J* VPJIn 14%- V. 

£* 

MM 01k Blit— 18 

293 291 293 +3 

5J4 34 34 

* ,3 * 1 i. >> 

*1°^ 948 W»+ «, . 

*34*. 34« 34« + <8 
W1 ; 21 21 

22 2218- ’A 

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Browns Succumb 

To Raiders, 21-20, 
In Final Seconds 

By Michael Janofskv people were doggin g u< and now: 

W^iIoSEtKIbH 

CLEVELAND — So there they concerned ahooL H 

** *?•** fine, with a L Il ^ as a disappointing loss for 
fourth down and 34 seconds left in Browns, who had won their 
the game. The Los Angdes Raiders t k fe4 previous games, Kosar, ra his 
« ere tr 5i“ n 8 the Cleveland start and first al home, was 

Browns, 20-14, and in the huddle make a better inpres- 

Mnn: Wilson had just called some- ? on " Bn 1 , *““8 die Raiders’ de- 
dung known to his teammates as ^ net to be confused with 
^M-opbon." facing the Houston OQexs’ defense. 

Bm as tfae Raiders made thdr Jfi® Browns defeated the Oflers last 
way to the Hne, with neatly 78 000 ^un&iy* 21-6. 
fans imploring the Browns’ defense Agflunst the Raiders, Kosar. 
to hang on for one more snap, Wil- sunin S “ place of the injured 

Gary Danielson, looked tentative 

NFL ROUNDUP 


son shouted a critical addendum to 
the play to his tight end, Todd 

Christensen. 

"Get open.” 

So that’s all it take s. 

Christensen, a master receiver 
close to the goal line, ran toward 
the end zone, faked a move to the 
outside, which froze the linebacker 
Chip Banks, and then cut to his 
right in front of the strong safety Al 
Gross. When he looked up, the ball 
was there for a touchdown. 

Chris Bahr kicked the extra 
point, and that's how the Raiders 
beat the Browns, 21-20, for a 
fourth-straight victory that pushed 


at times, completing lOof 21 passes 
for 140 yards and one for a touch- 
down. The Raidas sacked faun 
only twice, but after several passes 
they whacked Him pretty good. 

“He looked a little nervous,” 
Long “But fining up against 
us, Pd be nervous, too.” 

Broncos 13, Seabawks 10; In 
Denver, the rookie defensive bade. 
Daniel Hooter xettuned an inter- 
ception 20 yards to set up Rich 
Kadis’ 24-yard field goal 9: 19 into 
overtime andfift Denver over Seat- 



Cardinals Rally in 9th Inning 
To Win Game 2 of Series, 4-2 


Cesar Cedeoo delights in scoring die Cardinals’ fourth ran of Game 2. 


their record to 5-2 in the American eluding the two {days immediately 
Conference West preceding Hunter’s interception, 

tell you what,” Howie Long, Krieg, . sprinting out to his left. 


S L Louis Believes It’s AU in the Cards 

^StSba? Pendleton: 1 Guess You Could Say It’s a Club of Destiny’ 

times in the overtime session in- ' » 

By Joseph Durso 'an emergency on the Cardinals. He got three hits in his 

... . _ _ . . --; r Nt ” York Timei Serwo e debat, and hit .324 for the rest of the season and 

^ , y°4 w b flI r Howie Long, Kneg, . sprinting our to his left, KANSAS CITY, Missouri — “I guess we’re from became the resident at third base. 

overthrew Sieve Largaji alon^ the the sdwb! of Yogi Berra.” 71 to Landrum said after- This year, Pendleton lost 84 points on his batting 
— J **---- -*-• * ' ward, placing the Sc Louis Cardinals in time and average. But he didn't lose anything in the du tch He 

history. “U ain’t over till it’s over.” got 1 1 game-winning hits in the second half of the 

to the 15. He zeroed in cm the ninth irming of the second game season when the Cardinals were fighting the Meis for 

Kariis, who earlier in the gaum of the World Scries Sunday night: The rardmak . first place, 
missed three field-goal attempts, trailing by 2-0 with three outs to go, rose up one more “He’s been unbelievable,” said Cederux who joined 

convened the dinner four plays time. Without warning, with only two soft singles in the Cardinals Aug 28 and started hitting dutch home 
later- (AT) right innings, they attacked Charlie Lribrandt with runs. “Since I've been here, he's gotten one game- 

Patriots 20, Jets 13: In Foxboro, three doubles, one angle and four runs, and swept to a winning hit after another." 

“The key word is 'dutch,* ” said Todd Worreti, the 
rookie relief pitcher who has also become an instant 
star. “Bill Campbell and I were talking about him 
tonight. He's got to be one of the best clutch hitters in 
basriulL He rises to the occasion, in the Field, at the 
plate. He makes things happen. 

“When you have a ball player with that kind of 


toe Haiders’ defensive end, said of overthrew Steve Largest along the the school of Yogi Berra.” Tito Landrum after- This y 

the Browns, “they’re a fine team, sideline, and Hunter picked off the ward, placing the Sl Loins Cardinals in and average 

When their offense gets a little bet- errant aodal at the 35, ret urnin g it history. “It ain’t over till it’s over.” got 1 1 g 

ter, that’s going to help thrir de- 
fense. Then they’ll really be good.” 

Luckily for the Raiders, the 
Browns have not yet reached that 
point- Once the Raiders had taken 

a 14-7 lead in the last minute of the ^ 

first half, they struggled before Massachusetts, Steve Grogan two-game lead over the Kansas City 'Royals, 

their final drive. The Browns, who threw a fourth-quarter touchdown “You should have heard the dugoui when Willie 

fell to 4-3, have one of the better pass and raced 3 yards for a score McGee opened the ninth with his double,*' Landrum 

defenses, with five first-round draft with 3:27 remaining to bdp New said. “Vibrating. Here we go again. It's in the cards.” 

choices starting and remarkable England snap the New York Jets’ “The guys here fed we cannot lose* said Terry 
speed in the secondary. five-game winning streak. Pendleton. “We play hard till the last out is made.” 

The unit was especially effective Grogan, starting for the first It was a rally that started when McGee doubled past 

in the second halt limiting the time tins season because Tony Ea- third base. Two outs later. Jack Gaik singled through quality, you're not afraid to throw the ball in there. 


They’ll make the plays, they!! turn the double plays.' 

Whitey Herzog, the magician of the year and maybe 
the manager of the year, said there was a good reason 
for converting Pen diet on from second base to third: 
“We had Tommy Herr playing second, and felt he’d 


to play third. 

“He hit 324 right away, played winter ball, got 
married, everything was going great for him. Then this 
season, I really think be felt the National League was 
going to be easy. It wasn't. It took him two months to 


SCOREBOARD 


Hockey 


Raiders to 133 of thrir 319 yards of son is oat with & separated left the left tide on the 3-and-O pitch, cutting the Royals' 
offense, knocking down numerous shoulder, booked up with Stanley lead to 2-1. Then Landrum, playing for the fifth 
passes, disrupting Wilson's rhythm Moigan to the Jets’ 6. After Craig straight winning game for the injured Vince Coleman: 
and turning a pair of his mistakes James gained 3 yards, Grogan two strikes, and then a looping double down the right- 
— a fumble on a pitchout to Mar- faked a handoff to Tony Collins field line: And finally, after a walk to Cesar Cedeno 
cus Allen and a pass that was inter- before rambling untouched into the loaded the bases, Pendleton hit the 2-and-l pitch be here for a while! So, we figured, let’s try Pendleton 
cepted by Gross — into 31-yard left comer of the end zone. It was down the left-field line for three runs. at third. Also, to be honest, he was no Red Scboen- 

field goals by Matt Baht; Chris’s New England’s first rushing touch- How do they do it? They have gone into the ninth dienst or Frank White at second. We were going to 
younger brother. They brought the down since the season-opener. inning 84 times this year with the lead, and have not make Andy Van Slyke the thir d baseman because we 
Browns to 14- 13 on the first play of ' With the score tied, 645. early in once blown it. But, take them into the ninth inning had too many guys in the outfield. Then Willie got 
the fourth quarter. the fourth quarter, Grogan cdxni-- losing, and you are in imntmeni danger that the iwm hurt last year, we had -to move Van Slyke bad: to the 

The Browns, lock, the lead ahom rated a . I2-pJay drive by with the' magic touch will strike again - - outfield and we-bcqqghi up Pendleton from Louisville 

right minutes later, on a 7-yard hitting Irving Ftyar with a-36-yard “I guess you could say it's a dub- of destiny” 

pass from Benue Kosar to the nin- touchdown' pass to give New Ea- Pendleton said, trying to find the right label “But it 
rung back Kevin Mack. And there . gland a sevenrpoint lead. The Jets took a lot of hard work all year.” • 
was no reason to assume they -tied the score, 13-13, on their next To most of the Cardinals, the symbol of thrir 
would not move further into the possession on Tony Paige's 2-yard success is Pendleton. He is young, talented and dra- 
lead. plunge. The highlight of the drive made in the dutch, a 25-year-old third baseman from start to Ml Bat he’s been a tremendous dutch player.' 

Cleveland ended the Raiders’ was- a 49-yard pass from Ken Los Angeles with only four seasons of professional * “1 can't agree with that,” Pendleton said in an easy 
second-half drives on three punts, O’Brien to Wesley Walker, who baseball, another swiich-hhter with speed on the but forthright way. “Quite the opposite. I fell J had a 
the two turnovers and three more was pulled down at the 2 (UP1) bases, another instant star on a team of instant stars, great deal to prove, so I tried too hard, if anything, 

punts before the Raiders gpt the Dctyhms 41, Buccaneers 38: In He was an outfielder converted to second base and But, when I wasn't hitting I tried not to carry my 
ball back with 2:53 and 60 yards to Miami, Fuad Revriz kicked a 43- then converted to third base. He was called up to the worries out to the field. Whatever happened, 
go. The Raiders were trying to keep yard field goal with six seconds left big leagues on July 18 last year when iiy'uries created happened.” 

Kosar from becoming die first to overcome Tampa Bay. ■ • — 

rookie quarterback in 14 years to The Buccaneers, who have lost 
beat them (Jim Plunkett, now of all seven of their games so far this 
the Raiders and injured but then of season, tied the score, 38-38. with 
the New England Patriots, was the 43 seconds left on Donald Igwo- 
last to do iL) buie’s 38-yard field goaL The DoL 

It took some doing, including a phins that drove 45 yards in four 
remarkable 
from 

a third-and-15 

Banks clawing at Wilson's feet. But yards to Tony Nathan to position 
they managed to score m seven Revaz’s winning kick, 
plays (five of t b ^ m in completions), Miami overcame four touch- 

leaving the Browns 29 seconds to down receptions by Jimmie Giles, 
move thrir Bahr into field-goal all from Steve DeBerg. (UPf) 
range, something they couldn't do. Falcons3I, Sands 24: In Atlan- 
“Marc showed a lot of leadership ta. Mike Gann monied a fumble 
out there,” Christensen said of WB- 42 yards for one touchdown and 
son in the final drive, an assessment Clin Austin ran back a kickoff 96 
that carries additional meaning \ yards for another as the Falcons 
Since Wilson replaced Phmkett, snapped a six-game losing streak 
in a loss to the San Francisco 49ers by beating New Orleans, 
four games ago, be has endured a Two pass interceptions also hurt 
certain amount of criticism in the the Saints.. One led to an Atlanta 
Los Angeles area. If it is justified, touchdown and the other stopped a 
you would hardly know it by the scoring threat after the Saints had 
record: The Raiders have won in readied the Falcons’ 1-yard line. . 
each of his four starts. Besides the critical turnovers, the 

“I don’t care about criticism,” Saints also lost a 61 -yard second - 
Wilson said. '7f it’s going to be half kickoff return by Car! Roadies 
there, it's going to be there. I don’t to the Atlanta 33. when Joe Kohn- 
react toil one way or the other. All brand was called for. an illegal 
I know is. this game has given us a block, forcing New Ordeans to 
tremendous boost. We were 1-2, start at its own 19. (AP) 


Bv Thomas Boswell 

Washington Pott Servue 

KANSAS CITY. Missouri — 
Every ample of generations, the 
World Scries produces a rally this 
rare: 

It is not unusual in the course of 
a baseball season for a team to 
come to its last at bat trailing by 
more than a run and still puil out a 
ninth-inning victory. But the last 
time it happened in a World Series 
was in 1929. 

You think the Great Depression 
was bad? You should have seen the 
Chicago Cubs’ fans after rite old 
Philadelphia A’s scored three in the 
ninth to win their 1929 Series game. 

You could listen a long time 
without bearing a laugh in this 
town Sunday night. Trailing 2-0. 
and down to their last out. the 
Cardinals came back to win, 4-2, 
and take a 2-0 lead in the besi-of- 
seven World Series. 

No team has ever come back to 
win a World Series after losing the 
first two games at home. 

"The fatal blow." as Dick 
Howser, the Royals' manager, 
called iL was a soft bases-loaded 
double into the left-field comer by 
Terry Pendleton to score the last 
three runs. 

The box score will be so decep- 
tively cut and dried. With rwo out 
and Willie McGee, who led off with 
a double, on second. Jack Gark 
tingled home a run. Tito Landrum 
doubled Gark to third and Cesar 
Cedeno was intentionally walked. 
Then. Pendleton whipped’ the bases 
dean to break the heart of Charlie 
LeibrandL who entered the last in- 
ning with a two-hit shutouL 

The Cardinals' final rally was so 
brutal a blow for the Royals that 
even the Sl Louis manager, Whitey 
Herzog, tried to explain away his 
own team's heroics as something 
freakish. 

Pitying Howser, he said: “l guess 
sometimes you're not supposed to 
win a ball game. . , . Clark didn’t 
murder his single. It was just a 
grounder that found its way 
through the left tide. . . . Landrum 
just stuck his bat out at a two-suike 
scroogjc and poked it down the 
right field line. And Terry just 
flared it down the left field line. We 
didn’t really hit any balls good.” 

Don’t bother to ask why Dan 
Quisenbeiry. who has 212 saves in 
this decade, still was in the bullpen 
while Leibrandt labored. Don’t 
bother because two million Kansas 
City residents already are lined up 
outside Howser’ s office. 

Howser insisted that he was “not 
dose at all” to pulling LeibrandL 
“He was in complete command 
starting the inning,” Howser said. 
“My coaches and 1 decidied it was 
his game to win or lose." 

While neither Landrum’s nor 
Pendleton's blows would have hurt 
a carton of eggs, and while neither 
was fair by more than a few feet, it 
might have been wise to remember 
that: 

• Leibrandt has only 14 com- 
plete games in 100 career starts. 


• Quisenberry has 253 victories- 
plus-saves in the J9S0s — by far the 
greatest streak of relief pitching in 
baseball history. 

Though he gave up two game- 
losing hits to Toronto in the Ameri- 
can League Championship Series, 
Quisenbeny also got the final outs 
of victories 'in the sixth and seventh 
games. 

Slip-streaming in Pendleton's 
heroic shadow was Landrum who, 
for the fourth straight game, start- 
ed in left field in place of the slight- 
ly injured rookie Vince Coleman. 
In the bottom of the seventh, Lan- 
drum made a beautiful charge, 
scoop and peg to the plate to nail 
Buddy Biancai an a, who was trying 
to score from second on a single by 
Lonnie Smith. 

Until the ninth, this game was a 
perfect illustration of the old adage 
that baseball is a game in which 
five minutes of action are crammed 
into 2'.s hours. Make that about 
two minutes of action. 

This had been a three-batter 
game. Starting the fourth inning 
against Danny Cox, Willie Wilson 
grounded a single to right. George 
Brett hooked a hit-and-run RBI 
double over first base and Frank 
White cracked a run-scoring dou- 
ble up the alley in lefL 

"The toughest way to lose a 
game is the way we lost tonighL" 
Brett said. Jim Sundberg. the 
Royals' catcher, added: “They 
didn’t hit one ball hard off Lei’- 
brandt all night. They were all off 
the end of the bat." 


The last truly parallel circum- 
stance to this game was Philadel- 
phia’s three-run rally for a 3-2 tri- 
umph in the fifth and final game of 
the 1929 World Series against the 
Chicago Cubs. In 1939, however, 
the New York Yankees trailed Cin- 
cinnati, 4-2, entering the top of the 
ninth inning of the fourth and last 
game. The Yankees tied the Reds 
to force extra innings, then won. 7- 
4, in the 10th. 

Neither of those games came at a 
juncture comparable to Sunday 
night’s, in which the Series out- 
come was truly in doubt. Had the 
Royals won. the Cardinals might 
have worried about their rematches 
with tough lefties Danny Jackson 
and Leibrandt in Games 4 and 5. 
Had the Royals won, the Cardinals 
might have fretted about slumping 
Joaquin Andujar pitching in 
Games 3 and 6. They might have 
worried about when Coleman, who 
is still questionable, would reap- 
pear in the leadoff hole. 

Instead, everybody is praising 
Landrum (11 for 22 in the postsea- 
son). Who cares when Coleman 
comes back? Can be do better than 
throw out men at the plate, make 
sprinting catches and bat .455? 

In the end, Sunday night's mys- 
tery man was Quisenberry. 

“1 won't put myself above the 
manager and say when IT! pitch.” 
said Quisenberry. who had 45 vic- 
tories plus saves and a 2.3? ERA 
this year, despite occasional rough 
spots. "I really work at never trying 
to manage." 


Baseball 


Transition 



WORLD SERIES: GAME 7 
St, UwiS ConflnoU 


PMiwMoMa 
Mow Jersey 
Washington 
N.Y. utamtors 
N.Y. Ronoen 
Pittsburgh 


W L T Ph SF SA 
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Hartford 

Byffnlo 

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CAMPBELL CONFERENCE 
Norris DWWon 
SL Louis 3 1 0 

Olkoso 1 4 1 

Minnesota 1 3 1 

Toronto 14 0 

Detroit 0 5 1 

Smyttw OMiiw 
Edmonton 5 0 0 

Vancouver 3 2 1 

Winnipeg 3 2 0 

Calgary 2 3 0 

LOS Angeles 1 5 0 


2 34 


Vancouver (onVonbiesbroudcl 74* 
ton Brodeur) 13-S*— 27. 
Calgary 3 1 J— * 

Winnipeg 1 3 4-4 

Boschmon 2 14). Bobvch (2). MocLcan 13). 
Turnbull l2>,Howprchuk2(4).SIJk HI; Quinn 
2 (31. McDonald (2). Kromm I3J, Patterson 
(2). Shots no goal: Calgary Ian HavMni 11- 
7-14-32; Winnipeg (on Lemelln, D-Amour) T2- 
1 1-0-31 . 

PUhiasfceMa 0 2 3-5 

Chicago 0 2 0—2 

Kerr (4). Prop? 2 17). D. Brown <t). Poulin 
m;Oiezyk Ol.TMurray (2). Shots on goal: 
Philadelphia (on Bwnerman) 14-12-17— a; 
enkaao (on Froese) »- 10-13— 31. 

Ed awe ton S 1 1— * 

Los Anode* 3 • 3-5 

LumJgy (1). Surntnansti 2 17), Coftey 2 (41, 
Cretzkv (3). Anderson (Sl. Messier (31; 
Dionne (3). MacLeUan 2 (3). Nknolis (31. 
DJMnlth (1). Shots oa goat: Edmonton (on 
Janecyfc. Eliot! u-lft-7— 3» : Lot Angeles Ion 
Fuftr) 19-f.ll— 40. 


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BASEBALL 
American Leogae 

CHICAGO— Announced they have retained 
me cant rod options of Tom Soaver and Brill 
Burns, pitchers. 

National League 

ATLANTA— Signed Claudel! Washington, 
outfielder, to a one-year contract. 

BASKETBALL 

NathKiel Basketball Association 
SACRAMENTO — Released Eddie Nealy 
and Peter Vertioeven, forwards, and Geoff 
Huston, guard. 

FOOTBALL 

National Football Leoooe 
CLEVELAND— Wolved Mark Krerowlc*. 
guard. Activated Bill Conti, offensive foe Lie. 
tn>m the anyslcoilv unable to perform list. 


Football 


SUNDAY'S RESULTS 

.Vancouver a i 3—3 

N.Y. Ranger* 2 1 1—4 

Ruatsakrtnen (1), Sandtfrom f4). Miller 2 
(2); Lon thief (3). Skrfke (3). Sntvl (2). Shots 


NFL Standings 


a e 


AMERICAN CONFERENCE 


Oilers Defeat Kings for 5th Triumph 


Miami 
N.Y. Jets 
New England 
Indianapolis 
Buffalo 


Los Angeles Times Service 
INGLEWOOD, California — 
Last season, the Edmonton, Oflers 

went undefeated is their first 15 
games to set a National Hockey 
League record. . . 

The two-time defending Stanley 
Cup champions are off to another 
perfect start this season. 

The Oilers won their fifth 

NHL FOCUS 

straight game Sunday night, beat- 
ing the Los Angeles Kings, 8-5, in 
front of 10.530 fans at the Fomrn 
here. . . 

“We’re playing real wdL" center 
Wayne Gretzky said. “We’re prob- 
ably a better hockey ream than we 
were last vear. The lads are really 



Cleveland 

Pittsburgh 

Clncfonafl 

Houston 


Denver 
LA. Raiders 

sgattte 

Kansas City 
San Diego 


ins last four games. Dave Lirmlev 
’scored an unassisted goal in the 
first period. 

Giant Fuhr made 41 saves for 
Edmonton. He has a 3-0-0 record 
this season. 

The Oilers led, 5-3, after the first 
period, chasing goalie Bob Jane- 
cyk, who was starting his third con- 
secutive game. Janecyk allowed doHos 
five goals on 14 shots in 20 minutes jjj-v- ^wag* 
of action. 

When asked why be replaced 
Janecyk with Darren Eliot. Coach 
Pat Quinn said, “I wanted to wake 
up the team.” 

Janecyk looked very shaky. Cof- 
£ fey scored his first goal on Janecyk 
when the puck hit the boards and 
went' into the nets off Janecyk’s 
skate. Gretzky beat Janecyk with a 
it for his big game to his Hnemates,- shot that hit the crossbar and 


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(o-fleMed for LSmlfh In 8m: belted out for 
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flled out far Davlev In 9ifi; grounded into 
dauole play for Bianailona m Wh). 

PITCHING 


3 

1 

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NBA PRESEASON 
Somov* Results 
Milwaukee M». Chicago 112 
Detroit 112. New York *4 
Phlioaeipnio <0x Washington 103 
Dallas 131. Denver 114 
Portland 95, Seattle 85 


SPORTS BRIEFS 

Longshot Captures Toronto Classic 

TORONTO ( AP) — Nassipour, a longshot who was well behind the 
leaders for much of the race, rallied in the stretch Sunday to win the 
$600,000 Rothmans International thoroughbred race. The victory was 
worth S360.000 for the Dogwood Stable in the United States. 

Ridden by Jean -Liu: Sarny n, the 5-year-old chestnut horse moved 
between the leaders with a few yards remaining in the lVmile (2.6- 
kilomner) race on the Marshall tuff course. Nassipour, bred In Kentucky, 
won by a neck over the favored Sumayr, a French invader, in 2:48 1-5. 
Triptych, the only filly in the 1 1-horse field, finished third. 

Nassipour, sent off at odds of 25-1. paid $57.20, SI5.60 and S8.70, 
while Sumayr. owned by the Aga Khan, returned S4 and S3. 40. Triptych, 
owned by Alan Gore or France, paid $6.70. 

Imperial Choice, the top three-year-old in Canada this year, wound up 
fourth after taking a three-length lead at the top of the stretch. Agent 
Double, another French-owned horse, placed fifth for trainer Alex Head 
and owner Jacques Wertheimer. 

Jones, Benoit Win Chicago Marathon 

CHICAGO (WP) — Steve Jones successfully defended his title and 
missed a world record by one second Sunday in raring 26 miles 385 yards 
.(71.2 kilometers) through the streets of Chicago in 2 hours 7 minutes 13 
seconds. Joan Benoit Samuelson was first among the women, finishing in 
2:21:21. The race was officially known as America’s Marathon-Chicago. 

Jones, 29, a Welsh corporal in Britain’s Royal Air Force, defeated his 
closest pursuer, Robleh D|ama of Djibouti, by almost a full minute. 
Djama was clocked in 2:08:08 with Rob de Castella of Australia third in 
2:08:48. 

In the women’s race, Ingrid Kristiansen was intent on preventing a 
repeat of the 1984 Los Angeles Olympic marathon in which Benoit pulled 
away early and was never headed. Kristiansen, who owns the world best 
of 2:21 :06. ran with Benoit through some fast early going and was within 
five yards through 19 miles. Kristiansen finished second in 2:23:05 and 
Rosa Mota of Portugal third in 2:23:29. 

Edwards Wins as PGA Season Ends 

PENSACOLA. Florida (AP) — Danny Edwards posted a one-stroke 
victory in the $300,000 Pensacola Open golf tournament Sunday, while 
Don Pooley captured the 1985 Vardon Trophy for the golfer with the 
lowest average score over the entire 1985 PGA tour. 

Edwards carded a 1 5- under-par 269 with a 4-under-par 67 on the final 
round to edge John Mahaffey and Gil Morgan, who tied for second al 
270. Alone in third place was Mark McCumber at 271. 

Pooley, of Tucson, Arizona, won the Vardon Trophy with a 70.36 
average for 97 rounds. Last year's winner was Calvin Perie with a 7056 
average. This tournament at the par 71, 7.093-yard Perdido Bay Resort 
course was the Iasi on the PGA Tour this year. 

For the Record 

Errol Christie and Mark Kaytor, two leading British boxers who 
publicly traded punches Ocu 8, were given the go-ahead Monday to 
proceed with their middleweight bout Nov. 5 in Wembley Arena. (AP) 

Brad Gilbert of San Francisco defeated Amos Mansdorf of Israel. 6-3, 
6-2, on Sunday to win a Grand Prix tennis tournament in Tel Aviv. (AP) 

Jerome Ranchi will replace the injured Serge Bianco in the second and 
last rugby test match against the touring Japanese squad Saturday in 
Nantes, French officials announced. Bianchi will be joined by two other 
newcomers, Philippe Maroceo and Denis Cbarvet. f UP]) 

The Swedish weightlifting association has announced that it will not 
participate in international meets next year, citing an effort to stamp out 
doping. The ban was criticized by the national coach, Lars-Erik Kaell- 
strom, as a financial ploy that will have no effect on doping. (UPIl 


>82 

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3 ■ 


playing welL 

Gretzkv, tbe NHL scoring leader center Mark Messier and right bounced into the net. 
for the last five seasons and die wing Glam Anderson. Messier had “I let my team down,” Janecyk 
league’s Most Valuable Player For a power-play goal and one assist, said. “Every goal tiny got was 
the last six, had a power-play goal and Anderson had a power-play bad.” 
and and two assists Sunday; ni ght, goal and two assists. Eliot allowed two goals in the 

The rookie left wing Rairoo Paul Coffey, the Oiler defense- second period and a short-handed 

Summanen of FinlandTiad two . man who wen the Norris Trophy goal in the third. L w J# 

goals and one assist- last season, had two goals. and two .The Kings have lost five of six Detroit a son Fnmcuca 21 

“He played very weD,” Gretzky assists. Coffey had a first-period games this season and have given' NY - n 

said of Summanen. “He's added goal and added a short-handed up 36 goals, second^wona in the ZTSto* 
more speed to our hockey dob.” goal in the third period. Coffey has league behind the Deuoii Red motoay-s oame 

Summanen gave a lot of the cred- scored four goals and six assists in Wings’ 41. cram bov or oumo 


0 1.000 I4f 89 
0 JOS ISO W 
D X» 174 140 
0 .143 151 214 
SUNDAY'S RESULTS 
Houston 44. Cincinnati 27 
PldiadaioiilD 14. Dallas 14 
Butfoto 21. lndlenaooHs • 
t-A- Rnkters 21. Cfeugton* 20 
l-A. Ruffll H, Kansas City 0 
Atlanta 31. Now Origans 24 
N.Y. Giants 17. Watfilnaian 3 
Pittsburgh za. St. Louts 14 
Mh aws u t o 21. Son Dteoo 17 


WORLD SCRIES SCHEDULE 
OCT. 19 

St. Louis X Kansas City 1 
OCT. » 

St. Louis 4. Kansas Otv 2 

oct. n 

Kansas City tSabwtaogen TO-m oi Si. Louis 
(AnUutor 21-12] 

OCT 23 

City (Block 10-T5J of SL Louis (Tu- 
rn TUI 

OCT. M 

x-Konsos CWv (Jackson 14-12] of Sl. Louis 
OCT. 24 

x-St. Louis at Kansas City 
OCT. 27 

x-SI. Louis 01 Kansas Citv 
ls-11 nacossory) 


CFL standings 
Dteteloa 



w 

L 

T 

PF 

PA 

Pt» 

Ottawa 

7 

7 

0 

2SS 

341 

14 

Hamilton 

6 

6 

0 

320 

294 

12 

Montreal 

4 

1 

0 

344 

309 

12 

Toronto 

5 9 0 11! 

WMH1 Division 

Si 

10 

Sett Orao 

II 

1 

« 

421 

278 

22 

WlratiPtB 

11 

4 

0 

453 

255 

22 

Edmostoo 

10 

A 

D 

383 

308 

20 

Saks totem 

5 

TO 

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5S4 

432 

10 

Calgary 

3 11 0 234 

33S 

6 


Toronto 2L COW* W 

Brfflfh Columbia 4t SaAaictowon is 



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Page 18 


ART BUCHWALD 


Snubbing Charles and Di 


IIMSHINGTON — Everyone 
j » in Washington is laJkin» 
about the visit of Prince Charles 
ana Princess Di in November. 
Most people are behaving like idi- 
ots trying to wangle an invitation to 
one of the glittery affairs. I’m hap- 
py to report ray wife and I couldn't 
careless. 

“I never was big for royalty,'' I 
said to her as we 
roasted potatoes 
*n the fireplace. 

"Me neither. 

If you've seen 
one prince of 
Wales you've 
seen them alL” 

“The thing to 
do is not answer 
the phone for 
the neat two 
weeks. Then if Bucbwald 
B uckingham Palace calls we ' can 
always say we were out.** 

“Suppose they deliver the invita- 
tion by hand? I saw a wigged foot- 
man in the neighborhood yester- 
day. He was only two blocks 
away." 

“Don't open the door. Once roy- 
alty serves you with an invitation 
you have to go." 



“I don’t know w hy the girls who 
patronize ray beauty parlor are 
making such a fuss," my wife said. 
“After all the prince and princess 
are just tike any young married 
couple having marital trouble." 

“How do you know they’re hav- 
ing marital problems?" 

“I read in People magazine that 
Charles and Di aren’t getting 
along. She keeps going out until 4 
in the morning and he keeps falling 
off his horse. They say that Di has 
fired all of Charles’s servants as 
well as his private secretary.'* 


Royal Couple Tackle Myths 

United Press International 

LONDON — Diana, princess of 
Wales, denied that she was fashion- 
crazy and a bossy wife, and Prince 
Charles admitted that he may be 
growing more “eccentric." while 
denying press reports that he has 
dabbled with an Ouija board. The 
remarks were broadcast Sunday in 
an ITN television interview, the 
first of the couple's four-year mar- 
riage. The princess flew Monday to 
Belfast to visit a children's home. 


“That's what you call tough 
love.” I sskt 

“What makes it even worse is Di 
has cut off the prince's contact with 
all his friends from his bachelor 
days, and will not allow him to see 
any of his old girlfriends.” 

“Why would a wife do that?" 

“She’s very headstrong. She's not 
the shy virgin we saw being married 
on TV by Barbara Wallers." 

“You never know what is going 
on behind closed doors." 

“It wasn't behind closed doors, 
ft was in Vanity Fair." 

“What did they say about the 
prince besides the fact he keeps 
falling off his horse?" 

“He’s lonely and bored. The rea- 
son is that his mother won't give 
him anything to do. Queen Eliza- 
beth is keeping 3 tight rein on the 
throne. The prince has no duties 
and seems to be out of it." 

“I*m glad we're not going to any 
of the parties because we wouldn't 
have anything to discuss with him." 
I said. 

“You’re not supposed to talk to 
royalty unless they talk to you 
first.'' die told me. 

“Where did you hear that?" 

“I read it in Miss Manners's col- 
umn." 

“Well if you can't talk to them, 
what's the big deal about getting 
invited to a party?” 

“The National Enquirer said 
that although you can't talk, you 
can stare at them,” my wife said. 

□ 

“Why do people kill to go to that 
kind of bash?" 

“I guess it’s just to say they've 
been there." 

“Are you sorry you weren’t invit- 
ed?" 1 asked her. " 

“Of course noL What woman 
wants to go to the trouble of buying 
a brand-new evening gown and sil- 
ver shoes just to meet the next king 
of England, when she can stay 
borne in her bathrobe and watch 
‘Dynasty* on TV?” 

“That is exactly the way I fed. 
Let other people fight for two 
chairs when they gp shopping at 
i. C. Penney’s. Td rather have two 
seats to a Redskins game. “Did the 
mail come today?" 1 asked. 

“Yes, it’s over there." 

“Anything in it?" 

“Not really.” 

I peeked out the window. “May- 
be the British Embassy doesn’t 
know where we live." 


Downing Street Diarist: An Insider’s Portrait of Churchill 


Bv William Manchester 

W * ORLD WAR II was hardy 
a month old on OCL 3. 1939, 
when “Jock." later to become Sir 
John. CofviUe, then a 24-year-old 
dvil servant in the Foreign Office, 
was appointed private secretary 
to the prime minister at No. 10 
Downing Street. Neville Cham- 
berlain was in residence at the 
lime, but seven months later the 
House of Commons turned to 
Winston Churchill. 

A new book. “The Fringes of 
Power," (Norton. S25), Colville's 
“10 Downing Street Diaries," is 
largely Churchill’s story. Except 
for brief periods (including El- 
Day) when Colville braved the 
prime mimsier's wrath and flew 
as a Royal Air Force Fighter pilot, 
be was almost constantly at Grnr- 
ehiil's side. 

Written with precision and 
clarity. “The Fringes of Power" is 
a treasure for scholars and. for the 
general reader, a compelling nar- 
rative. A wartime rule forbade the 
keeping of written personal re- 
cords. but Colville was a compul- 
sive diarist So be kept the accu- 
mulating volumes of his diary in a 
safe place at No. 10. This is an 
abridged version of the original, 
still under seal at Churchill Col- 
lege, Cambridge. 

This diarist was no fringe spec- 
tator. He was in the cockpit of 
action, a trustee of delicate confi- 
dences, and as time wore on he 
became a man of sound judgment 
whose suggestions were weighed 
and often adopted. At Trinity 
College, Cambridge, be had been 
awarded first-class honors in his- 
tory. and his subsequent perfor- 
mance in the Middle East as a 
junior diplomat had been bril- 
liant. He found diversion in Mil- 
ton. Keats, Shelley, Byron, Lord 
Chesterfield and Lord Rosebery’s 
essays and like Churchill he en- 
joyed Trollope. 

In the 1930s the privileged class 
still dominated His Majesty's 
governments; Colville met every 
patrician standard. He was a Har- 
rovian. the cousin of a viscount; 
he opened each sunlit morning 
with a brisk gallop through Rich- 
mond Park and lunched at the 
Travellers, White’s or the Turf; 
his grandfather bad been a friend 
of Churchill's father; he was a 
frequent guest of Queen Mary, 
whose close friend and lady-in- 
waiting was Colville's mother. 





For any diarist who hopes that 
his work will live, discretion lights 
the way to dusty death. Like Bos- 
well, Colville never hesitated to 
set down rumors, gossip, his own 
prejudices and his judgments of 
others, which he later found unre- 
liable. He described Harold Mac- 
millan as “finicky and probably a 
little insincere." Duncan Sandys 
was ‘‘an opportunist.” “The 
Fringes of Power" is dedicated to 
Lady Soames, Churchill's daugh- 
ter Mary; when he first met her 
she struck him as “rather supercil- 
ious." Of Mary’s mother, the for- 
midable Clementine, he noted: 
“We talked a good deal of poli- 
tics, about which her views are as 


toy Dmei De WtaHngton fan 


ill-judged as they are decisive.” 

Colville had been an enthusias- 
tic supporter of appeasement (lat- 
er Churchill would taunt him as a 
“MunichisQ and even after the 
outbreak of war he had deplored a 
government while paper on Ger- 
man concentration camps, calling 
it a “sordid document calculated 
to appeal to people’s lowest in- 
stincts. . . . After all most of 
the evidence is produced from 
prejudiced sources, and 'it is in 
any case undesirable to arouse 
passions." 

During the “Bore War" of the 
winter of 1939-40 he acknowl- 
edged that Churchill was “the 
only man in the country who 


commands anything like univer- 
sal respect” and would probably 
become prime minis ter before die 
war's end, hut added that “judg- 
ing from his un trustworthiness 
and instability, he may, in. that 
case, lead us into the most danger- 
ous paths." When King George 
VI (who shared such doubts) 
handed Churchill the seals of of- 
fice. Colville quoted R. A. Butler 
as saying the post had been “sold 
to the greatest adventurer in mod- 
ern political history ... a half- 
breed American." 

However, once the new prime 
minister had rallied the dispirited, 
defeatist country, Churchill's 
conquest of Colville's heart be- 
gan. Nine months later, the diarist 
wrote of Churchill: “it is an inter- 
esting spotlight on No. 10 last 
winter that he should have been 
regarded with such dislike and 
distrust." By then Colville had 
been all but adopted by the Chur- 
chill family. He frequently dined 
with them, and was privy to fam- 
ily secrets and familial celebra- 
tions. 

Throughout the war, Churchill 
went about heavily armed. Col- 
ville describes how, puffing on a 
cigar, be fired his revolver and 
Mannlicher rifle at ranges up to 
300 yards, and “despite his ago, 
size, and lack of practice, be ac- 
quitted himself . . . with com- 
mendable accuracy.” While En- 
gland stood alone, be thought that 
everyone in the nation should 
share his belligerent conviction 
that “A Hun alive is a war in 
prospect." 

Learning at dinner that Adolf 
Hitler had poisoned his dog, mur- 
dered his wife and killed himself, 
and that his corpse lay in his 
ruined Rochskanza garden, en- 
veloped in flames, Churchill re- 
flected for a moment and re- 
marked: “Well, 1 must say he was 
perfectly right to die like that." 

In the hands of gifted men, dia- 
ries may approach the level of 
literature. Perhaps nothing writ- 
ten about the fall of France in 
1940 is so gripping as Colville's 
entries between May 10, when 
Churchill became prune minister 
as the German Wehnnacht knifed 
through Belgium and Holland 
into France, and May 31, when 
Colville wrote of Dunkirk: “One 
of the world’s greatest defeats is 
being redeemed by an outstand- 
ing achievement of . . . gal- 
lantry." The accounts he set down 


during those three weeks are often 
inaccurate. Frequently they omit 
key developments. “Bat that was 
aK that anyone in England knew 
at the time." And it is this which 
gives them their extraordinary 
sense of immediacy. 

Colville portrays Churchill as 
an incomparable fighter, gener- 
ous to the conquered but incon- 
siderate of his staff, a user of men 
who discarded them without a 
thought, incapable of apologizing 
though charming those he had 
hurt, ruthless — even cruel 7 — yet 
a statesman of soaring vision. 

England and its allies defeated 
the Axis powers, but the Chur- 
chillians lost the empire. Its knell 
had lolled from time to time dur- 
ing the war, and Colville reveals 
that Churchill had not been deaf 
to it. As early as Jan. 16. 1940, a 
diary entry ends: “For some rea- 
son no subject is more boring to 
the average Englishman than the 
British Empire" On Aug. 30, 
1941, Churchill learned that the 
Spitfires and Hawker Hurricanes 
that had won the Battle of Britain 
were piloted by students from 
state schools, not schoolboys 
from the elite private schools, he 
said: “They have saved this coun- 
try, they have the right to rule it." 
And on another occasion he told 
Colville he was reconciled to' a 
postwar Labor government. 

In fact, he could never face a 
defeat with equanimity, and as 
the general election of 1945 
loomed he once more became the 
old party warboire By then his 
place in history was assured, how- 
ever. and his sense of humor kept 
him buoyant until the terrible de- 
pression of his last years. At the 
last, when be told Colville his 
death was immin ent, he added 
that “he could not help wonder- 
ing whether the government 
above might not be a constitu- 
tional monarchy." If so, he said, 
the Almighty might “send for 
him" and ask him to form a gov- 
ernment He relished the pros- 
pect 


William Manchester, who is 
writing the second wham of “The 
Last Lion a two-volume biogra- 
phy of Winston Churchill, is ad- 
junct prof essor of history and writ- 
er-in-residence at Wesleyan 
University. This is excerpted from 
an article he wrote for The Wash- 
ington Past. 


PEOPLE 


1 

« 

1 


i*- » 


Lyubimov as Director 

"Vnri Lyubimov will not be 
as bead of Bologna's Arena del ... - 
theater, its owners annouiKed Sun- 
day. The Emilia Romagna theater 
association said a “mutual lack of 
confidence" had led them notw 
renew Lyubimov's contract The 
director, 68 . called the group "an 
association of bureaucrats exactly 
like those of the Soviet Uniort 

and said their management “knows 
nothing about theater." He still 
plans to stage a play by Pushkin at 
the Arena del Sole next wedt as 
scheduled. Lyubimov founded 
Moscow's Taganka theater in 1964, 
after a dispute with Soviet drama 
chiefs, and was dismissed from 
there in March 1984. He was sub- 
sequently stripped of Soviet titj- 
zenship. Lyubimov has been living 
in. the West since early in 1983, but 
never asked for political asylum. 

□ 

Stanislav Bunin. 19, was awarded 
first prize by an international jury 
Saturday in the 11th Chopin inter- 
national piano competition in War- 
saw. B unin, a second-year student 
at the Peter Tchaikovsky «wsenra- 
tory in Moscow, is the first Soviet 
pianist to win the prestigious con- 
test for young pianists since the 4th 
Chopin competition in 1949, when 
the first prize was shared by a Rus- 
sian and a Pole. Mare Lafortt, 19, a 
student at the Conservatoire Na- 
tional 5up£rieur de Musique in 
Paris, was second and Krzysztof 
JmWoBskl, 20, a third-year student 
at the Karol Szymanowski acade- 
my of music in Katowice, Poland, 
was third. About 120 pianists from 
17 to 28 years old entered the com- 
petition, which began Oct. 2. The 
competition is held every five years 
in Warsaw. 


Nancy Reagan returned to 
Broadway 00 Sunday, singing on 
stage with her old friend May , 
Martin dining a cdebrity-fiUed 
tribute to the actress. “String up i 
there in that box and watching aU . -j 
these professional singers doesn't 
make this easy," Mrs. Reagm said 
before joining Martin in a number 
from “Late Song," a Broadway 
musical in which they performed 
together in 1946.. “1 don’t go 
around the White House singing," 
she said. The first lady’s appear- 
ances! the Sbubert Theater was the ’ 
finale of a benefit fra the Theater 
Collection of the Museum of the 
Gty of New Yak. 

- - - V 


** 


and. 


in 


Min 

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the 


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Or wrtrt Devermort & Dnverraort, 
406 Wbhire BvtL, 204, Santa Moni- 
ca, CA 90401 


IF YOU CANNOT HAVE A CHID, 
contact Nod P. Kean-Aitorney-leoto 
tog Authority on Atonrfiw* to Infer- 
WK 930 MamDaerbam, M 48124 
USA 31M7W775. 


ALCOHOUCS ANONYMOUS in 
EnjjS|b.JWs (daily) 634 59 65. Romo 


PORTUGAL SEE 
HdBdays A Travel 


SUN. MY. TIMES 
Write Keyser, POP 2, 81 


PERSONALS 


HAVE A MCE BWJHDAY1 BONBL 

Sbyle, Sabine, Franz, Frattrahi Gefi, 
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Renat. 


HAW? A MCE DAY1 BOKBL Have a 

doyl fated. 


HAVE- A MCE BBUHDAYI BOXEL 

HAVE A NKE BKIHDAYl BOKEL 


HAVE A MCE BOtHDAY, ROKHJ 
Guile. 


MANY HAPPY RETURNS, I 

Herald Tribune Classified Staff. 


The I 


INTERNATIONAL CLASSIFIED 


MOVING 


ALLIED 

VAN LINES INTI 
ova isoo omcEs 

WORLDWIDE 

USA Allied Van line* Infl Carp 
(0101) 312-681-8100 

Or cal gv Agency European office* 
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bwnkhjct 

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(02102) 45023 LALS. 

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' (089) 142244 

LONDON 


MOVING 


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WHO BSE FOR YOUR 
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TOR A RB ESTIMATE CA1L 


tort Moving 


Call 


(01) 9S3 3636 
I for AISetT* free estimate 


s 

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1 


2 

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Last Chance for 6 Months 


Now try the Lottery with only 
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Make a date with luck! Order now, using coupon beiow, your 
ticket(s) for the 121“ Austrian National Lottery 

X to - 

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the official distributor for the Austrian National Lottery. 

29 Mariahitfer Str. (§jnce19l3) A-1061 Vienna, Austria. 

□ Please send 

Full ticket(s) at US $ 438.00 each 

Half tiefcetfs) at US $ 2 1 9.00 each 

Quarter tickets) at US $ 1 09.50 each 

valid for ail 22 Weekly Drawings of the 121" Austrian National 
Lottery beginning Nov. Il*, 1985. For the mailing of all winning 
lists, I add US S 12 for Overseas Airmail Postage (or US$8 within 

ElJrOp6) a irin '* 

I enclose total payment of US $ 

with check payable to J- Prokopp. 

Please send further information. 


Name. 


Address, 


City/Country 


ZIP. 


x (Please pnnt clearly) . • 

OMORROW • MAIL TODAY • WIN TOMORROW • M AIL TODf^ 


AMSTBMIfc 

ATHENS: 

BARCBjONA: 

BONN: 

BREMBfc 

BRUSSELS: 

CADIZ.- 

RIANKFURT: 

GENEVA: 

LONDON: 

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MANCHESTER: 

MUNKH: 

NAPLES: 

PARIS: 

ROME: 

VlB#tA: 

ZURTOfc 


1 071) 89.99.24 
01)961.12.12 
03)6529111 



MOVING 


CONTWEX. Small A madam mawas, 
{.tmwoHdwida. Coil Char- 
281 IB 81 (near Opon4- 


REAL ESTATE 
FOR SALE 


CORSICA 


l£ DE CAVAUO (Casco). Land tor 
Ttonwes' axKfrudian from 
FttKUXjO. Land tor vAa corcftudwn 
from FBOO.OOO. Promotion Moaart le 
fciJJ ftowgno tl a das Anglais, bfioa 
MOttUafc 93 88 37 37. Tff faimozw 


ItEDE CAVAUO fCorvco).-B ? ^ari's , , 
70 sam- ready to more in. From 
FlAjXUXU. Promotion Mozart. 'La 
fare I Pmtnenodr dm AngJaa, Nfcr 
06000. Tat 9388 37 37, TShrow 
461235k 


REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


COTE D'AZUR 


Overlooking Gy Farrqf bay, 6bad- 
roaai vflo, 3/00 iqjn. Da land. Pod 
house. nMunrena pad. pananadc mo 
mow. Phatioak 3i rue dab Buffo, Pfas. 

T«L (93) H7 22 01. 


PROMOTION MOZART. French Rivi- 

era fad Estate Agency. Sporia fe fc in 
beautiful nm luiodi and vAb from 

Coma to Menton. Nfaa 0600ft Hare 

Mocart pS 87 OB 30. Hated Mwidtort 
(73181 48 80, Bureau tto Ruht f?3J 88 
37 37 Tafae IMMOZAR 46T235 


COTE D'AZUR MOUGML Bargain. 
Provanfd *Ao in a rasidanfid area 4 
bedroomt, pad, Vi an acre land, IS 
rrunutts from the joo, 20 minute* fron 
Nka Airport P2AKWMQ. Gdl Mark 
for eBdettAafmi 3819 JP.SSI.47 
La Craaetto, 06400 Cures. 


REAL ESTATE 
FOR SALE 


FRENCH PROVINCES 


DORDOGNE OM 1«h cantor y for. 

tows borae, ranowota d . vary bacatiM 

6 ha. woods & meadows. 

. _ ruo 
YoemU Bta. 


root, 6 ha 

Futo/wu 

Lincfcfrgh. 7 


PARIS A SUBURBS 


AVENUE FOCH 

Modem faulting, vary Ugh dote, 
420 sqjiv, sdon dining roooi^ study, 
ftrary, 5 bodoam. 5 drewigs, 5 
baths, 2 pnfctogj, 2 mda roans, 24- 
hour pianlui 

BATON 704 55 55 

THEX BATON 6308&5F 


REAL ESTATE 
FOR SALE 


PARIS A SUBURBS 


MONCEAU 100 SQJVL 

IOVB.Y RECBTK3N 4* BEDROOM 

High cfoxs fadW qg , ton, 

GEORGE V 

‘ LOVELY DUPLEX #0 SQM. 

+ maid's roam 

EMBASSY 562 16 40 


4Ri NOTRE DAME. Suparb wow, idoa 

pod-otarro, facing soufk 544 39 4 


International Business Message Center 


ATTENTION EXECUTIVE? 


to thm h toiwi ia id Herald 

boom, where mare than a dAd 

of a mffiwi readers world- 

wide, wet! td wham tern to 
tw b *w end indosby, wS 
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mrpetr wmbi 48 boats. The 

rrde k UJ. $9.80 or bad 

aq wl w dm f par tin* You mast 

aidadm ca rapleto and vwrif?- 
aWa biKne oefcfcwn. 


BUSINESS 

OPPORTUNITIES 


LETS DRINK TO YOUR WAUH. 

. 7HfflGM a phased to renounce 
tha BACT-OCtiTOR. 0 wsfar sfarXzor 
•hat dostrayi txxtma. wus end othar 
micro-oroanarm harmful to your 
ftedto. TW BACTOairOR too lures 
smol sizs end wregfa, a porlabh modal 
hx travel or table lop, a food model 
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finapan WATTS FBKHNER fiSnr _ 
ffmJdnd activated tharcori (G-A-C| 
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wel as absorb** tonic die n eedt (to. 
ducting diiorine) tram the water. 

You eon order your Tritromsto nfc wr by 
sencting a casKere cheek or money or. 
der for US$180 far die p a t ris to unit or 
SIM for the under itoit ureL Paynbto la 
Taehwcd Systems and Sernas, P.O. 
Bat 7511& Sehiphol Oort. 1117 ZR 
Ne ti ie Hc nc k PfeMa add $10 far past, 
ago. At an introductory offer raw order 
reaoriwd before January 1, 1 986 
w4 indude GAC WATK FSSHT 
ri no otfctit m nd cart. Dcsrier inqueriat 
invited. 


OFFSHORE & UK 
LTD COMPANIES 

Incsrparalian end managenrenr nk UK, 
Ue of Man. Turks. Angulo, Oiamd 
bknds. Pmotncy Ube rig Grbrirtev anti 
most ottier onanorq (no. 

• Coriidenfial advice 
■ brnnettiale avritobfity 


Ml 


• Bearer shares 

• Beat ragirtrcti o ig 

& odninetrohoe 
& Orihn 


SERVICB LTD 

Undan Representative 
MOHjbM i&„ London W1 
Tel 01-0934244, Th, 28247 SC5LDN G 


USA 

B U SN ES S B A REAL STATE 
Business sdes, commerad. indtatad & 
renderiid rad estate sales & hates. 
Property mmoge m w J & businen de- 


aquee- 


vafopm e m, 
tiieflB & finonad 
Huron fa 

1*395 

Irvir*, Gifoma 92714 
Tek 7f4651-B030i Tk- SWIW. 


your 
to. 

Breton, 


BUSINESS 

OPPORTUNITIES 


DID YOU REAUZE TOHTS ON 

FUTURES MARKETS DURMG THE 

IA5T YEARS? 

8 not, consider saeadrihe invadnieid 
an futures roarientt portfotias managed 
by a highly pr dmo nd brafceraqe 
asmgart^ whch a a member rf US. 


APNJAUZED AVBtAGE PRORT 
OVER THE LAST TWO YEARS; 21% 
Trad: record rented fay a wel kncMm 
Hta n arienci auda company. No mar- 
gin C C*t up to milid imwrtment. 
Accounts hjBy segregated 
For further W if orntalr o n odfc 
OOU3 FILL 

London, Tek OOM 1/933 49 84. 

Utascme. Td: 004121/20 58 31, 
Buenos Arrtn. Tele 00541/313 61 ih. 
scene a brochure Free of charge. 
Write ©OLD Mil GROUP 
Rue du Lion D’or 4 
1003 Louwnne, Switzerland 
Broker enquiries invited 


To 


FINANCIAL TIMES 

AT HOME OR AT WORK 
IN THE NETHBBAND5 

The FT qperries a 
nora 
had i 

__ Anri ewtom. Deft. 
Bncftoven, Crone igen, 
Hocdon, The " 

Hee 
Leider 




W o wnuui, 

For sufascnpAon detaib. 
pL m conm 

FT Aireferdore 94 30 or 

Europe's Busness Newspaper 


NO RISK - HIGH RETURNS 

US dvfl engmeer with 25 yean 
French ibrirta redtar experience 
wtil purtfxBe, improve and reseti 
feopenies in Gntes on your behdf. 
No oo mm iaaswn asked 
Profits wfl tort remunerate your 
oaprfd at 12% and balance 
wB be spia 50% - 5cr&. 
Normal returns: 30% to 40% 
Some puttered venturer am 100% 
No rids involved 
CapW peryondly gucr ant e e d. 
Large surface rtod te c afa g 
, major bre* references. 

Tefau 461.425 Frmce or cetil 
kb. Serge: (93) 43^5.49 before 
10 am or after 10 pm toed nme 
or (93) 38-30.40 during woriung hours. 


U. S. A. 

UNIQUE OPPORTUNITY 

C rtobfate d cony iy raqreres addnon- 
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pOtontiluL Mrimum itnmst- 
nwr# rtgh onmid nvums 

1*25*1- For deroied nformanon: 
2589. Herald Triune. 92521 NeuiL 
ly Cedes, France 


PANAMA COMP AMES FORMS by 
prdes fo nds - S650 - fad - drart- 

mareaso pnvocy - saw money. PMA 

Boa 63396, B Iforado. PrinaPia ti. HP 


BANKMO AMS hneshnent Advisors 

wonted -cum lent cotnrteBtovffX, 73 

New Bond St, London WT, England 


BUSINESS 

OPPORTUNITIES 


COM. LID 

Gompcnai farmed UK & worldwide 
•nttirtting Ue of Man, Turia & Cairn. 
Angufia, Fonoma and Liberia. 

Far farther irriui mufion, please contact 
real: - 5 Upper Chinch S!„ Doogfas, Ue 
d Mon, via Greet Britain, lei * 

(0624) 23733, it* 627900 


LONDON 

riducicry & trust services I Company 
ftxmabore & dcnicScAan I foternriion- 
d tax I Bcri accounts estab tol ie d I 
General business advice & as w sfcnuE i 
JPOJ, 17 Widtnrie 5#, London El 7HP 
Tel: 01 377 1474. fix: 893911 G 


USJk. BUSINESS- SpMMfats to USA 
fastnan. Investments and bnngra- 
Son. Contact: AhrorionvHrena, PX-, 
£0 Stale St, Boston. MA 02109 USA. 
Tet 417 523-1330 or tote* 951014 
HRSTSOSTCM 


FINEST MVE5IMB4T NEWSLETTER. 

Award-wtonfagbtl Hmry Schdtz Let- 
ter. $50 for tad sifasaniioa FBC. 
P.a Ba« 381, CHI OOf lausaeie. 
Switzerland 


DELAWARE, PANAMA, Lfeena. Cor- 

Hraoons from USS ISO. Phone: 

28933/20240. Trie* £28352 
G. (vnUX). 


BUSINESS SERVICES 


INTI 

BEAUTIFUL PEOPLE 

UNUHTTEDINC 
UAJC 6 WORLDWIDE 

A Complete personal & busmen service 
bra nding o ureguo o ofadtai of 
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prom o tional oc ca sions. 
212-765-7793 

212-765-7794 
330 W. 56ft Si, N.Y.C. 10019 
Seria 
Needed 


FDR ANY KM> OF BUSWC5S re- 

seradi & information about Greece's 

business ocportunrttos {markets, indkis- 

tries, laws, eid. earfod Mr. DmSmn 

Ttiokn, 11 OiaAeon Street, 546 31, 
5domco, Greece. 


HOW TO GET A 2nd PASSPORT. 

re port - 12 countries tmdyzed. De- 
tafo WMA, 45 Lywfwrrt' Terrace, 
Suite 57, Cwtfid, Hong Kong. 


PROVEN PROFITS ham US date's 
collapse. Driafa WMA, 45 lynSvct 

Tee. Suite 50, Hong Kong. 


DIAMONDS 


DIAMONDS 

Your best buy. 

Fine dcreonds m any (taOS range 
at Iwnrt whdesale prices 
(tired ham Antwerp 
center d the dtonond warid 
FuB guarantee. 

For free price litf write 


i 62, B- 2018 Artwerf 
ip 3] 734 a/ 51 
l A> the Diamond Gu 


Mftsmlradt 

Xturffiritfl !»■ fV iht'Dtontpnd CUs. 
Heart of Antwerp Diamond industry 


DIAMONDS 


DRAOT 

Factory soles of Loom Get Kmtsaeds 
Large He rn el d j ertr 29. Antwerp 
Barren. Tek 323/2327203. fa> 35243 


FINANCIAL 

INVESTMENTS 


FOR LONG TBtM RANK arbitrage- 

USS, dred ■y pt u »*i requn am- 

tads with lenders or find managers, 
no broken deate. Mncmdonfy ap- 
ply tas Ref. BBG, No. 36 rue des 
HeSenes. 1050 Bnurefa, Belgtom. 


OFFICE SERVICES 


YOUR BESTSWISS 
BUSINESS BASE 
IN ZURICH 

RJLiY INTEGRATED 
BUSNESS SBWKB 
CLOSE TO FINANCIAL CENTS 
Furnished Offito / Conference Roorm 
Telephone / Telex / Mai Servitss 
Word Processing / TrarekiSan 
Coonpny Forroarion 

INIBMATKMAL OHKE 

32 fannwsg. CH8001 Zuri* 

Td: 01 / 214 61 1 1. The 812656 INOF 

MEMOS WORLD-WIDE 

MISRCSS CENTRES 


2 URKH-ZUUCH-ZUMCH 

TIE FiNANOW. CENTER 

• YOUR INTEGRATED BUSNESS 
50JVKES COMPANY 

• YOUR OFFICE AWAY FROM HOME 
Buiinaii Servkee Co rnell Corp. 
BdvManme 52, CH8022 ZuriS. 
Tek 01/211 92 CP TV 813 062 BSIC 


GENEVA 






KBS, 5 Rte de Chene, IS 
Tet (22) 86 17 33, 6e < 




YOUR OHKE M PARK: TELEX, 

ANSWBBNG SERVICE, secretary. 

Rue 24H/dcy. 


WTanift, moilxxc, 
TeLWT:6099S«. 


IMPETUS - ZURICH * 282 76 21. 

PHONE / Taflt / TELB3WMS. 


OFFICES FOR RENT 


FTOH-E 

FURMSHBI 

OFFICES 

VBTY HOI CLASS 

canaa room 
SECRETARIAT - TQEX 
TEL: PARK (1) 727 IS 59 


OFFICES FOR SALE 


MONTE CARLO 

SEVERAL AM CONDTTIOND. 
OWCB for Ufa ten TOO to 230 
•gut. Aaf tan be chided oasrdrig to 
larramta, in a modern, teaurieus 
ring with pariang foamtb 

AGHH 

26 bn Bd Princes* Charlotte 
MC 98000 Monaco 
Tdi (93) 50 66 00 Tele* 479417 MC 


EXCOTKJNAL 
ONOUAIOFS8NE 
MONO BEET LOUS 



FOCH 300 SQJVL 


perfect 
mg, * 




Xyi TROCADBW - VICTOR HUGO 
Tet Mfl OJ 03 


Nero VTCTDR HUGO- FAKANSaS 

PtoriotaiTe, fmedied, modem, 
pariang. F3^00joa Teh M2 03 03 


AVENUE MONTAWNE, very high 
dost buldtog, 110 WAjarge fivfog. 
bedroom, garage. Id. 720 V 17 7 
7202962. 


ST GERMAIN DB FRSS. 16lli cert. 

penthonee. lTDigjn. 329 4294 


6TH 2-ROOM CUSTOM Detiote, met 
opartment F850^tXL Teh 544 41^9. 


REAL ESTATE 
FCMtSALE 


SPAIN 


MALLORCA 

AMBASSADOR PARK 

PARADISE FOR THE HAPPY TEW 

An-tacd u foe Meflten tenct ritagtas 

being ladt right by fte roa oo fee mad 

becutifal site aa M dl e r co. Ided bo- 
ton, 2BmkMwfitm ftrina Spgdaue 
rycrtftad A 1 to 3 bedraattaLdl weft 

VlStT AMBASSADOR PARK AND 
RECONVMCED . 

For toformatwro- 
* GtaCfUNSJL 
At. A te n fauai 24 
CH1005 lAUSAPtt Swfaerfcmd 
Tetpi] 223512.HXSI85MGU5CH 


SWITZERLAND 


In die chanting mowtrin resort of 

IEY5M: 

KSWBiCE ICS RBCS 

OreriooUng a ephmdbl A^sne panora- 

ma 30 min. from Mantreux and Ldoe 
G eneva by cor. 

- you ore own qwtiity re e rie nc ei 
with indoor ewiemung pod end 
ftnssi fa u Be i -m on Jsd • 
ew w anBteiR for leisure and sports 
UL adf, ML 
loanaitari W SF. nM 
up to 80% mortgages. 

He— oanladi 

ritoalMfoML 1154 fayrie 
SWITZBIIAHD 

Tet (025) 34 1 1 S Tbcs 456 1 2D RLAI CH 


REAL ESTATE 
TO BENT/SHARE 


CANADA 


TORONTO, CANADA - UJDCURY. 

Fllftr fornahod and equipped 1 & 2 
bectioom suites. Swirnr servicaL 

5h*t/lang term iwMl Marie* Sdtel 

80 From Si fa*. Ste. 

ABE 1T4 Canada. (416) 


REAL ESTATE 
TO RENT/SHARE 


GHEATmZAOV 


ii 


«frdcrjrfi -.--_- _ 

^.P ****? ?* ,0 1 

Hp£SSDpscwedL3ioofcto2 

HnlManaMmaMrilR 

BH»«ak Idea WW&-< 


tGWX3N.lfarftebest.« 

and houses: Coradl 
natfm. Kent and lewis. Tefc Scafib af 
tdPnkm 
5135. Tdex 27846 BESPE G . ... . 
jMYFAn.ii£diRY Aixermmi. 


bokiand 


AJHSTBHMM IT JMSRJMHfH 

■ fanry fid to reo^ Rraaote 2 
tiora, tionnd rireig. 3 fo|d 


PARIS AREA BURNBHED 


Service 


«• 


n 


* Am., i 


YOUR REAL ESTATE 
. AGBIT H PAWS 
' 562-7899 


74 CNAMPS-ELY 5 EES Blh 

Stedfo, 2 or 3raam ep rrtn e ri . 

One monih or mare. 

, IE OABDOE 359 67 97. 


* 


SHORT TIRIti STAY. Advantages of a 

Ixtiet teftqri nwonve d enoul, led ri 
■! dot sfadfos, one befoxwi 
T«L?y « ftjfeOTBaiMt 80 me 
da rUnweniltL Preii 71fo 544 39 40 


Taranto 

1096 


Page 12 
FOR MORE 
CLASSIFIB9S 


International Secretarial Positions 


5 

l. 


SECRETARIAL 
POSITIONS AVAILABLE 


APPLE COMPUTS 
MTERNATIONAL 

Newly - metai PORTE MAILLOT 
b fooidng for a young end motivated 

PART-TIME 

SECRETARY 

Engtidi moftw tongue, flueri in Freodv 
Btes working with |AppW computers, 
to arort uci M eu e m our 
international ides depratma*. 
Gome fate the APPLE 

Send CV. tetter and photo to Frmcoae 
Bavoewc- AaplaGonqw terlnte malion- 
d - 7, rue ris Chartres, 92200 NeuBy 


The DIRECTOR of as 

MlBttMiaNAL 

ADVBD15INO AOH4CV 
(Paris !7lh( scab 


SECRETARY 


French or 
itatei or 


Requirements! 

Independently horde secretarial' 
duties + tome aoMedog, 
Aptitude for figares 
- ErtabSdi wari£ride 
with ease to Engfish 

Sort coon 




rue Le co urfae 75015 Pare 


MfNEKVE 

Enflfofo. 


fSLtt 


War 
727 61 


•BBtSkx AMEBCAN 
HtMS to PARS: 
Dutch or Genn 
of Frendv re- 
gfaigtid, 
_ _ phone: 138 AvrtttW 
75116 fans, Frtrtee-Tefc 


SECRETARIAL 
POSITIONS AVAILABLE 


hSdSd^S^ 

to m pm wa 

TYPIST 

B«BU5H 
rfonqite, 

whiiffi 


S having te*«l di 

day wR not be fas 


pram*. The position is 
totale d to Paris. 

send your 
Under feUT/l 

AWBC 

35 roe de la _ 

75008 Paris. 


MIBMATIONAL COMPANY 

new LE VaIIPIS 

railway iiulitAi 

■seta 

SECRETARY 

B«USH MCffHB TONGUE, 
r of 


forta legal 

CV. to N° 41306 COW 
3 ? me de TArcodo 
75006 toil who w9 fanwnL 


of Winter resort. Alpra AteWmto. teefe 
for the resort: 

BILINGUAL EXECUTIVE 
SECRETARY 

33 Aw. MacWtohon, 

75017 Paris. Fro**. 


MK MTL GCMPCMU3ION is botol 

I tog far a. yaeig fa d ri h mather- 

^ ^jes akti 

E^i ridbConnsedfaL duties 
woT reqara tnwiQ, teboc opvabou & 

wtsSstftSs,': 

dt y todey Itaa, an asset. Gnti. 

CodeA-ProteoJ 


Triboni 92521 NeuRy 


. SECRETARIAL 
posmows avaitahub- 


ETT-FARB 9TH SBKS 

. EXECUTIVE 


NWMUAL RBKHWQUSH 

Hjt» itovdL caperitinoed. 


HHft OP matlSH IAWVHS to Fan 

are a meaner for a'bBua ' 


° "«wrily, knowl- 

w advantage, Tstephane: 


MTLPW6 Saris EngWt ^Mddag seo- 
rrimy. French not stridlyreiymfo ^ 


retyped. SrtdCV to DB 
Septembra. 75000 Pma.1 


I 

i 

uTrro greoaur „ . 

srteK r, p- 


CUDURAL CENIBt needs Unrad 
Center, 261 Bd tepofl. 7^014 Ptari^ 

^qbetaries available" 


SECRETARIES 
OVERSEAS 

vfowinl2nte?“ Ito '^* 1 a' ani ^- 
Coreriteriv 


- ve 


-IS 


2A1L10 






.SpKtiatised.1 


RANDSTAO Htoarr^s" 

BBMQIMl. AI»CYT!X‘|g^ 
ftrfa 751 12 on TBrapora ? 


nr 



Printed by gdz in Zurich (Switzerland) 


no— sn- 


mv+ ve 
i»e+ » 
3Mb+ te 

u. 


Prevl mu 

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citf \j 3 £) a