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The Global Neiwspapf 

Edited in Paris : • . 
Printed Simultaneously 
in Paris, London,' Zurich, 


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1T» Hague and sSaiseilie 

WEATHER DATA APPEAR ON PAGE 16 



INTERNATIONAL 





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Published With The New York Tunes and The Washington Post 

* -• ZURICH, THURSDAY, OCTOBER 24* 1983 


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U.S. Considers Offering Soviet 
5 Years 9 Notice of Deployment 



S y Walter Pincus - 

il*' Washington Post Sefrtee 

WASHINGTON— Tbe United 
Stflus is prepared to fijve-.assur- 
. '"■^usu- ‘Uroes to the Soviet Union that it 
‘ Wi* [’• would negotiate any proposed de- 
ployment of new defensive sirate- 


o, ano gfve Live 10 sev- 

J */.. ra ” notice before deploying 

such wea P ons unilaterally. accord- *»uiuraw uw me crating eat n- r; rrtliri ^ lnri -t,- 

:-3 Def ““ D *™“ f 

twI . Jaw such dqjloyinents. \ , amend the 1 972 ABM treaty, which 

These proposals, agreed to at an IThe White House dented currently provides that either sg- 

••. of senior Reagan Wednesday Aal such proposals ex- natory can withdraw from it on six 

. - • 5rfir.i ad ministration ofTicrals, are in- isted. United Press Internanonal months’ notice. That could be ex- 
. ■■ >:£ tended as a response to Soviet de- reported; Larry Spokes, the White tended to five to seven years under 
^ mands for concessions on- Presi- House spokesman, said that a time die new U.S. I dea 

• 1 : i.,^' ! ! ; • ; “ : — 7 — ; At a hearing before a House of 

'Wfii w „ Representatives Foreign Affairs 

Marcos Is Said to Agree 

. (5 dent and secretary of state on arms 

rWl f~l'| • • . . /"VI control, said that the space weap- 

l o Election Observers 

- - White House officials said that 

Mr. Reagan would be raising the” 
issues of human rights and “Soviet 
expansionism’* at the United Na- 
tions this week, to pat the Soviet 
Union on the defensive before his 
Nov. 19 summit meeting with Mik- 
hail S. Gorbachev in Geneva. A 
senior official listed arms control as 
being fourth among the adminis- 
tration’s objectives for the summit 
meeting. 

The new proposal for trying to 
reassure the Russians was adopted 
as part of the administration’s re- 
view of its position in connection 
with both the current Geneva arms 


dent Ronald Reagan’s Strategic ' frame was never discussed at the 
Defense Initiative, the sources said. Oct. 4 fueling. 

They would not have any effect {A Pentagon official said that 
on continuing research and testing such an offer “doesn’t make any 
of possible space defense weapons, sense” because the United Stales 
bnt would delay then deployment, would not give the Soviet Union “a 
presumably to give the Russians a veto over deployment.^ 



Hussein Lauds 'Spirit’ 
Of Peres Peace Plan 


gic weapons, and gjve “five to sev- chance to deploy comparable sys- t-l. ,„rv* a 

en years’ "notice before deploying terns if the United Statesdedded to 
such wrapon s mulalemnjOccS- Mlhdia. torn lie edstihg And- 

twL , law such d^oymenu. • , amend the 1972 ABM ixeaiy, which 

These proposals, agreed to at an JThe White Hoase dented currently provides that either rig- 
Ocl 4 meeting of senior Reagan Wedn«day thalsuch proposals ex- natory can withdraw from it on six 
administration officials, are in- isted. United Press Internanonal months’ notice. That could be «- 


v§. Marcos Is Said to Agree 
To Election Observers 




—1^7 * v xaawuvu 

- 

. " -"Rbs" By Bill Keller 1 

. New York Tima Service 

WASHINGTON — Senator 
Paul Laxalt has declared that Presi- 
dent Ferdinand E. Marcos has 
Ij agreed to permit U.S. observers at 
Philippine elections in 1986 and 
_ - 2 jb 1987 and to rdax his control over 
' '-’ati.. g. the Pfaflippine military. 

' iic^i Senator Laxalt, who reported 
: das Tuesday to President Ronald Rea- 
- •‘.'Jriv Ban on fas informal diplomatic v isit 

'> > to Manila last week, said in a state- 
gg. mean that the promises were “posi- 
live steps” toward the political and 
. M : - c j,-. militaiy initiatives urged by the ad- 
\ - : - , l ministration. 

The Nevada Republican said 
. V ijF; dial contrary to what some admitv 
a -.-. }j ; istration officials had said eariier, 
“there woe no hostile messages de- 
, .--rtli; livered on my part, and there was 
no rqection of our views on Presi- 
dent Marcos’s part." 

*■ * A n Affii.'.! ™uu c 



HAPPY BIRTHDAY — The UN Secretariat in New 
York displays ‘UN 40* to celebrate the anniversary of 
the founding of the United Nations. In a speech, Rajiv 
Gandhi reaffirmed India’s nonafignment policy. Page 2. 


Reagan , in N.Y. , Meets 
Gandhi, Zia and Thatcher 


By Judith Miller 

AW VorA Times Service 

AMMAN, Jordan — King Hus- 
sein of Jordan welcomed Wednes- 
day the “spirit” of the peace pro- 
posal made Monday by Pnme 
Minister Shimon Peres of Israel. 

The king emphasized that an in- 
ternational peace conference under 
United Nations auspices was the 
only way to resolve the Arab-Israeli 
conflict. 

In a speech to the UN on Mon- 
day, Mr. Peres stated that Israel 
was prepared to end its 37-year 
state of war with Jordan and nego- 
tiate with a Jordanian or Jordani- 
an- Palestinian delegation, possibly 
in an international forum under the 
auspices of the UN Security Coun- 
cil. 

The possibility of talks under 
such conditions marked a shift in 
Israel's resistance to an interna- 
tional peace conference. 

Mr. Peres also said that he was 
ready to go to Jordan by the end of 
the year to begin such ialk-s. 

(President Hosni Mubarak and 
King Hussein are to meet Thursday 
in Amman to discuss prospects for 
Middle East negotiations, accord- 
ing to Egyptian government 
sources quoted by The .Associated 
Press in Cairo. The sources, who 




Comwa Pina 

Hosni Mubarak 


King Hussein 


China Said to Offer Iran 
U.S. Nuclear Technology 


By Patrick E. Tyler 
and Joanne Omang 

Washington Post Service 

WASHINGTON — The Reagan 


refused to be identified, said that administration has received reli- 


reacLor components and other 
technology lo Beijing. 

Because of widespread criticism, 
however, the agreement was not 
submitted to Congress until July 
while the administration sought ad- 


Compikd tv Our Staff Fmm Dispatches But the chief White HotlSe prop 053 !-! 


. » , . ■< . , _ . ... — .. — ■ , . wiiut* uiv luuiuuiauouou auuiui 

the two would discuss Mr. Peres s able intelligence reports that China dilional Chinese assurances of 


NEW YORK — President Ron- spokesman, Larry Speakes, said the 

talks .and the November meeting, aid Reagan arrived Wednesday to speech would also contain “a Peres's address: “I believe his technology after Beijing signed a 

Mr. Gorbachev who has called address the United Nations on su- broad, far-reaching initiative," speech represents the beginning of 30-year atomic power agreement 

repeatedly for the United States to P er P° wef relations and to raBy which he declined to specify. movement in the right direction wd* the United Stales, according 


Fenfinaod E. Marcos 


ace weapons pro- ^-S. allies before his crucial sum- 
thatheispreoared mil meeting with the Soviet leader. 


proposal.] suggested in June that it might pro- proliferation. Unless rejected by 

Hussein said Wednesday of Mr. wde Iren with sensitive nuclear Congress, the pact automatically 
Peres’s address: "I believe his technology after Beijing signed a takes effect in January 
speech represents the beginning of 30-year atomic jxnver agreement For . ac- 

moyemem in the nghi direction wth the United Stales, according l0 cmS inteffigence o?Chi- 


31 1 Marcos s part. eral “perhaps for a year or so" but 

An official familiar with Senator that be “would consider" Senator 
trait’s meetings in Manila said Laxah’s advice. 


abandon the space weapons pro- 
gram, has stated that he is prepared 
to permit “fundamental research” 
on space-based defense but not 


Mikhail S. Gorbachev. 
Mr. Reagan attended a 


fidd testing of models or prototype and luncheon with about 


_^fr Marcos had made no comruit- 
Blffi re* 3118 011 ol her points raised by the 
senator. 


consider” Senator wcaDO Tr D r of state and government before speaxing weonesoay 

... meeting separately with Prime aboani the jet bringing the prea- 
lid the senator had The new proposals for reassuring ^ Gs ^ lM of India< dent from Washington, said the is- 

long report from ^ Russians were adopted at the ft^desu JSshammcd Zia uI-Haq sue of human nghts was likely to be 
military asserting sareemeetmg at which officials As- ^ PakisIan md Prime Ministw a source of contention between Mr. 


The official said the senator had 
rough* back a long report from 


He said Mr. Read’s 'speech ^refie^ a personal concern for the U.S T* 

would consist of ^Sighiforwrd J«faieof future generauons and a mteUigence community the Central Intelligence Agency re- 

straight-talldng about the state of d«erminauon to coninbute toward These reports from Beying were fu5cd lo Wef Senate Foriign 

ut » U-S.-Soviet re&uons." lhe achievement of peace m our shared m a do«d briefing of the Relations panel about Chinese nu- 

-*4s Mr Shnlc? «mMkina Wednesday lune ‘ Senate Foreign Relations Commit- c j ear proliferation. Committee 

forc aboard the'tet^Snrina the onsa The king also said that although ““ ^ m ? n ^ 1 a ‘ ^ m £ ls " members reportedly clashed sharp- 

E be remained commitied to the £ len “ of Rc T ly at Lhe tearing into Richard T. 

^ofhun^. ri&tui liki u, be cord to beaed Pelesnee Lib- Kennedy. daSuue Depenoent of- 


Of particular concern, the offi- that the government was success- fu ssed a dopting a new, expanded 


-T-ATanifl rial said, was the fact that Mr. . folly contaming the Commnnistin- 
Marcos had indicated that he sumatj. . , 

- --k TO-f planned to reinstate General Fabi-. The official said Senator Laxalt 
an G Ver as head of the armed had also brought back a second 
forces if the general were acquitted report an what Mj; Marcos de- 
nf invnlveiTiailiin the dmrimmf the^eMMui ‘,v 


relation of what the 1972 
pact permits in the way of 


iret Thatcher of Britain. 
Reagan and his wife, Nancy, 


testing^and development of space ES&MSStt ^ht^^wSle 


Reagan and Mr. Gorbachev. rcoru^y oumnrng a joint ran or 

peace, he was reviewing his rela- 
. Andrei A. Gromyko, the Soviet . tionship with the PLO as part of a 


weapons. 

Since then,, administration offi- 


toria Hotel. was foreign minister. Mr. Shultz 

Secretary of State George P. said. 

Soprt^T^'i^o 'tejaidhebd^d^toi. 

mlU fA ilia CniNJH f APdMAn mmirtA# et leaders would counter U.S. com- 


eralion Organization signed in °tb CT tntclbgpuce reports final in charge of nuclear coopera- 

Febmarv outlining a jointbid for aboul ^“8 s conunumg nuclear don ^ 
peace, he was reriwing his rela- sports to Aigenuna and South Af- ^ depanmenl - MU;g oricallv 
tionship with the PLO as pan of a nc *K ,- , nciirp . n denied" Tuesday that it had wiih- 

reassessment of “the whole sima- ** held information from the Senate, 
uon" to determine where the PLO ^d Iran on Monday, Senator /tian bm MlirC(:s 0D Capitol Hill indicat- 
stood and what steps could be tak- 3l TbeSy ih?« Te senator 

altogether now to revive peeee 

__ . „ ■ , held, suppressed and covered up A wdl-placed source said that 


General Ver and 25 other defen- to express the administration's 


- • a-sTt'd 


dan is is expected soon. 


growing concern about detmorai- 


Seuator Laxalt was said to- have ing econcanic, nriHlaiy and political previous, much narrower Lnterpre- 


tion. the Russians have sharply Eduard A. Shevardnadze, but no J 1111 acc ““ tl0ns “a 1 1116 

challenged — they wQl stick to a formal meeting was scSled. United Stat« ^vemment violaies 


t leaders would coumex U.S. com- He assessed Mr. Peres's speech information known virtually CIA sensitivity about sharing in- 
laints with accusations that the and discussed the recent tension throughout the executive branch" formation with lhe Senate 


- -_ : i warned Mr. Marcos that a rein- trends in the Philippines. 


“M*rsrs*i ri^rnTsidhr^^: 

White House io discuss lhe agenda 2^SJ^.jS5Lfi 


between Jordan and the PLO over about Chinese violations of non- stemmed from detailed disclosure 
the hijacking of the Italian cruise proliferation guarantees. in a column SepL 23 by Jack An- 

ship Achille Lauro and the collapse ^ Cranston’s charges that the de«°ii and Dale Van Alta that the 


rz. wmeewM mt, Ul» w JMU — exe uu. — null!, UUUJV lu UUUi» UK aituuo .1 i:_«— ->.l . J I. . 1VU. V.IJJJMUU » UiOlCR. klUU U1C . ; ”, — “ 

ifaiw statement AF-: General Ver “amid.. In their four horns of meetings Former Ambassador Gerard C of the summit meeting, which is to “cpbEht.Mjbe poor and homeless of planned talks with Britain in his Chinese shared nuclear technology CIA had evidence that China had 

— -rS mbIv hwnmp a .flatli nm’nt f«r thf Inter Wmtni-crlflv unit ThnrsH»v Smith n/hn h(»hwt nMnthrii th<- Unv lOandOninOmMih ID LDe UWtetl htaies. IITSl pUOUC Comment On both top- nn,|, nihn h« nmnwl fivx “nui-W helped Pakistan build a nuclear 


military 


be held Nov. 19 and 20 in Geneva. 
In a speech Thursday to the Gen- 


Mr. Shultz said preparations for 1CS - 


“P- with what he termed five “nuclear Jdped Pakistan build a nuclear 
outlaw” nations — Brazil. Aigemi- bomb. 


although the Reagan eral Assembly, marking the 40 ih the summit meeting, which Mr. , Hussein confirmed that his re- na, Pakistan, South Africa and Iran “We have a very serious source 


. 'fZ+rJ: the general, a friend and retetiveof being d e cen traliz e d so that fidd administration had reverted to a anniversary of the United Nations, Reagan will discuss in New York riew of the peace process was — are the latest setback in the U.S.- problem in Beijing,” an intelligence 

- ^ Mr. Marcos. decisions can be made there rather restrictive interpretation, “it is also Mr. Reagan is expected to accuse with the leaders of Britain. West prompted by the collapse of talks China nuclear agreement signed by official said. The administration, 

"7.- i*7S* The president, the official said, than in Manila." * t “‘ * t - -**-*■ — * i ““ ^ * u - L ^ " J T - Ucf — * n "” : ” ^ « - ... :j 


■|Tqwrted that “he had ah honored 
v oonmutment” to reinstate the gen- 


dear that the administration feds the Soviet Union of human-rights Germany, Italy. Canada and Ja- wee k between Bntain and a President Ronald Reagan in April the sources said, would rather risk 


SttbcssyS* 

UOte 

v & sil * Morocco Declares 
#0 Sahara Lease-t ire, 
Presses for a Vote 


Philippine diplomats have indi- free under the new version to alter violations at home and expansion- 
(Cantfnued on Page 2, CoL 4) (Con&med on Page 2, CoL 1) ism in the Third World. 


pan, were “pretty well set, in a joint Jordanian-Palestinian delcga- 
broad way.” (Reuters, AP) (Continued on Page 2, CoL 2) 


1984. The agreement would allow angering some senators than com- 
U.S. nuclear contractors to supply (Continued on Page 2, CoL 2) 




^ The Associated Press 

./i-3 UNITED NATIONS, New 
- York — King Hassan H of Moroo- 

— co unilaterally declared a cease-fire 
vor •sjj ^ yj fijg Western Sahara on Wednes- 
* -- r~ : g, day. He asked the United. Nations 
. - • to supervise a referendum there in 
r . January 1986. . 

The Moroccan prime minister, 
pugg Mohammed Karim Lamrani, read 
Hassan’s message to the General 
FOR*”". Assembly. He said that Morocco 
, icejfl? was “prepared to receive neutral 
Cw” . observers wishing lo verify on the 

premises the respect oF such a 

cease-fire.” 

■« ji) 3 * “If the United Nations under- 

• tt-l** takes this consultation at the pro- 
' ^ **7 posed date," Mr. Lamrani de- 
..•jnS dared. *it would have made a 
.. gigantic step towards malti ng a 

- ' q* substantial contribution to thead- 
^jpji vent of a better worid." 

Morocco has been fighting the 
Algerian-backed Polisario inder 
t. s**;, < pen deuce movement since Spain 
v '■’/ relinquished the Western Sahara in 

1975. 



Warsaw Poet Calls for Progress on Arms 


The * Moo n < «J Frau 


Mikhail S. Gorbachev, center, signed a Warsaw Pact declaration on Wednesday after a 
two-day meeting on arms control in Sofia. President Andrei A. Gromyko, left, looked on. 


Compiled by Our Staff Fran Dtspauka 

SOFIA — Mikhail S. Gorbachev 
and other Warsaw Pact leaders 
concluded a two-day summit con- 
ference Wednesday, urging the 
West to agree with Soviet ideas for 
ending the arms race. 

The seven-nation Communist al- 
liance was “decisively in favor of 
curbing the arms race, in favor of 
the effecting of a positive change in 
international relations," said Ivan 
Ganev, a Bulgarian deputy foreign 
minister. 

“The world has come closer to 
the line beyond which events may 
simply get out of control," he said. 
The bloc leaders “adopted a decla- 
ration on the elimina tion of the 
nuclear threat," he added. 

The official Bulgarian news 
agency, BTA, said that one propos- 
al being pin forward was to freeze 
Soviet and U.S. forces. 

It said that the leaders proposed 
“Lo freeze the number of the armed 
forces of the Soviet Union and the 
United States, including the armed 
forces deployed beyond the coun- 
tries’ international boundaries, io 
the level of Jan. 1. 1986." 


Soviet Denies It Violated SALT-2 

United Press International 

SOflA — - A Soviet official denied Wednesday that the Soviet 
Union had violated the SALT-2 treaty fay deploying new long-range 
missiles, and accused Defense Secretary Caspar W. Weinberger of 
trying to wreck the Uii.-Soviet summit meeting set for next month. 

Mr. Weinberger said Tuesday that the Soviet Union was deploying 
the mobile SS-25 missile, and said this was “an unquestionable 
violation of Soviet assurances given to us” under the 1979 strategic 
arms limitation treaty. 

“The main point of Lhe Weinberger statement," said Vladimir B. 
Lomeiko, the Soviet Foreign Ministry spokesman, “is that the Soviet 
Union is breaking down SALT-2." . 

Mr. Lomeiko, here for the two-day summit of the seven Warsaw 
Pact nations, said, “It is not true because there has been no deploy- 
ment of such missiles which can be considered as disturbing SALT-2” 

U-S- officials argue that deployment of the SS-25 would violate the 
agreement because the treaty allow each side to develop only one new 
intercontinental ballistic missile and that lhe Russians have built two. 


The immediate response of 
Western diplomats was unfavor- 
able. 

A U.S. diplomat said: “It looks 
like another freeze proposal, like 
Lheir chemical weapon and nuclear 
weapon freeze suggestions, which 
would simply maintain the present 


imbalance in their favor." The 
Warsaw Pact's lost proposal in 
February to the Vienna-based 
East-West talks on reducing con- 
ventional forces in central Europe 
called for a freeze after initial cuts 
in Europe of 20.000 Soviet forces 
and 1 3,000 U.S. forces. 


As outlined by Mr. Genev, the 
Warsaw Pact statement had other 
restatements of Soviet .negotiating 
positions and included the follow- 
ing points: 

• An end to the testing, produc- 
tion and stationing of “offensive'' 
space weapons. 

■ A moratorium on nuclear 
weapons testing. 

• A ban on the development of 
new intermediate-range nuclear 
missiles. 

• A ban on chemical weapons. 

• Creation of zones in north and 
central Europe, as well as the Bal- 
kans, that are free of nuclear weap- 
ons. 

• A nonaggression agreement 
between the nations of the Warsaw 
Pan and the North Atlantic Treaty 
Organization. 

Mr. Genev said: “The joint doc- 
ument points out openly and clear- 
ly before all peoples those who are 
to blame Tor the heightening of 
tension: The policies of imperial- 
ism and above all the course of 
achieving military superiority pur- 
sued by the U.S A." (AP. Reuiersi 


Cruise Ship Bookings Slip as Security Is Criticized 


if* 

: 

■ ** , ‘.-**j 


IpV-T By Michael Oreskes 

.■ New York Times Service 

WASHINGTON — Two former hostages 
“ v from the Achille Lauro have described secu- 
: ‘ ■’’>/ rity shortcomings aboard the "ship to a con- 
gressional committee, whose members then 
y'js' argued about whether the United States 
’■ could force improvements on. foreign cruise 
■' afpf- lines. ...... 

A {A representative of the travel industry, 
foM? meanwhile; said the hijacking has led to 
“significant” cancellations in cruises abroad, 
■/" particularly to the Middle East and the Med- 

iterraxtean. The Washington Post reported.] 

’ :* The former hostages, Viola and Seymour 
J" a Meskin of Union, New Jersey, testified Tues- 
day before the House Committee on Mery 
* .t chant Marine and Fisheries that before the 
V\ Achille Lauro was seized by terrorists, they 
■ ,• had seen no evidence of any security precau- 
tions. ... 

„• Seymour Mesldn said their hags were'nev- 
■ ifs 1 er searched or examined. Viola Mesldn re- 
i called that when the anise drip was ai berth 
” ^ in Alexandria, Egyptian merchants selfing 
- 'i*^: jewelry and other wires were allowed on. 
I board. 


Garrett Brown, acting deputy maritime 

administrator, who also testified, said the 
Achille Lanro's hijacking could be a “one- 
time incident.” but “could also be the befcin- 
ning of a pattorn similar to that which has 
characterized air hijackings.” 

The lour terrorists who seized the ship, 
now in custody in Italy, have been chained 
.frith murdering Leon KUnghoffer, another 
passenger. 

RepreseatativfrMario Biaggi, Democrat of 
New York and chairman of the House panel, 
said that action to.forpe tighter security cm 
cruise slops would be a testament to Mr. 
Klinghaffer. 

. Mr. Biaggi insisted there were a variety of 
things that could be done, including requir- 
ing cruise lines to adopt security measures 
patterned after those used by airlines. 

Representative. John R. McKcman Jr, 

. Republican of Maine, suggested that Con- 
gress might be able to ban foreign cruise 
companies from advertising, or even selling 
tickets, io the United Stales unless they had 
tna security requiremen ts. - 


But Representative William Carney. Re-, 
publican of New York, said he was con- 
cerned that the committee might send a false 
message of security to American tourists. 

“The message to Americans today is, we 
don’t own those vessels," Mr. Carney said. 
“Don't feel safe taking a cruise." 

He noted that there were only two Ameri- 

can-flag ships currently operating as cruise 

liners. 

■ Disruptions in Travel Industry 

Leah Y. Latimer of The Washington Past 
reported from Washington: 

In rehouse to the hijacking of the Achille 
Lauro, some travel agents and earners have 
begun to change routes of cruises and to 
transfer passengers to tours with more tran- 
quil destinations. Others are providing new 
incentives to travel to the Middle East and 
other destinations considered dangerous. 

“We have had to make some changes in 
that part of the worid because people are 
realistically concerned," said Oivind Mathi- 
sea. spokesman for the Sea Goddess cruise 
line ttfd-pablisher of a cruise industry news- 
tetter. 


In response to concerns about the Achille 
Lauro hijacking, Sea Goddess cruises, with 
tours costing up to 51,200 per day per cou- 
ple, rerouted stops in Israel and Egypt to the 
Greek Islands and Italy on a cruise that 
departed on Saturday. 

Some cruise lines have transferred passen- 
gers to ships cruising other parts of the 
world, such as the Carribbean, Mr. Maihisen 
said. 

Sea Goddess has offered discounts on fu- 
ture cruises io the Carribbean io those pas- 
sengers who do not cancel scheduled Medi- 
terranean cruises, he said. 

Nevertheless, he said the hijacking has led 
to “significant cancellations in cruises to 
the Middle East and the Mediterranean. 

Christmas cruises, which are usually 
booked to 1 10 percent capacity by October, 
are booked only to 80 percent capacity this 
year, said Lawrence Flack, who operates a 
Washington agency. 

About 1.7 million oT the 2.6 million anise 

passengers each year are citizens of the Unit- 
ed States. 



INSIDE 

■ Liberia's recent election was plagued by ir- 

regularities, a presidential candidate told the 
U.S. ambassador. Page 2. 

■ U.S. -Spanish defense talks, expected to fo- 

cus on the numbers of troops in Spain, have 
opened. Page 2. 

■ Efforts to weaken U.S. rules that forbid dis- 

criminatory hiring practices met opposition in 
a cabinet debate. Page A 

■ UJS.-Nicaraguan ties are marked by hostile 

rhetoric and diplomatic niceties. Page 3. 


■ Yves Saint Laurent plays it safe in his latest 

ready-to-wear collection. Rage 5- 

SCIENCE 

■ light, rather than electricity, may power the 

computers of the future- Page & 

BUSINESS/FINANCE 

■ Faffing VS. transportation costs hdd the 

September consumer price rise to a scant OJ 
percent. Page 9. 


WINNERS — George Brett, right, tied ■ Exxon Coip. said third-quarter earnings de- 
a World Series mark, Frank White hit a clined, and Phillips Petroleum Co. reponed a 


home run and Royals won, 6-1. Page 17. profiL drop for the year. 


Page 9. 










a a# 4* * a m 


** 


P f 


Page 2 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


1 


Liberia Opposition Figure Tells U.S. 
Of Alleged Irregularities in Election 


By Blaine Harden 

K'artiqj-nM Pusl Service 

MONROVIA. Liberia — Jack- 
son Doe. who was a presidential 
candidate for die opposition in last 
week's national elections here, has 
presented a long list erf alleged vot- 
ing irregularities to Edward Per- 
kins. the U.S. ambassador to Libe- 
ria. It was learned here. 

Mr. Doe was said to have told 
the ambassador that opposition 
politicians feared retribution from 
the country's military leader. Gen- 
eral Samuel K_ Doe. The two Does 
are not related. 

While the government of Gener- 
al Doe claimed to be scrupulously 
counting votes, a large mound of 
ballots was round burning Monday 
about 40 miles (65 kilometers) 
north of Monrovia. 

A senior member of the govern- 
ment said they were the ballots 
from a county that had voted 95 
percent against General Doe. 

The charred ballots, photo- 
graphed by local reporters and dis- 
patched by opposition parties to 
the U.S. Embassy, are the roost 
dramatic evidence of what appears 
to be a major efTort by General 
Doe's supporters to alter the results 
erf the Oo_ IS election. 

Authoritative independent ob- 
servers say that reports from major 
polling centers across Liberia con- 
firm claims by the opposition Libe- 
rian Action Party that Jackson 
Doe, its candidate, won the elec- 
tion. The government has not yet 
released official results. 

The U.S. government, whose aid 
constitutes nearly a third of the 
Liberian budget, has been directed 
by Congress to cut off S86 million 
of the aid if the election is found 
not to be “free and Fair." 

The night before the election. 
General Doe spoke on television. 

“Our commitment has been 
unique in the history of military’ 


A 



Samuel K. Doe 



WORLD BRIEFS 


governments anywhere," he said. 
‘This is our fust test of the truly 
democratic experience." He added, 
"History will be our judge-" 

The election brought out record 
numbers of Liberian voters. They 
had been told they were to be given 
a greater voice in choosing a leader 
than at any time in the 138 years 
since the nation was founded by 
freed American slaves. 

Irregularities soon became ap- 
parent On election day. opposition 
observers were prevented from 
monitoring voting at military bar- 
racks, where some voters were re- 
ported to have been free to vote as 
many times as they wished. 

Asked later about this. Emmett 
Harmon, the chairman of Liberia’s 
Special Election Commission, said 
he saw no reason to question the 
voting. Mr. Hannon, a lawyer, was 
appointed, by General Doe, as were 
ail the members of the election 
commission. 

Mr. Harmon. 72, rejected the va- 


lidity of all election-night vote 
counts monitored by observers 
from opposition parties. These par- 
ties had been given the right to 
observe vote-counting through 
laws approved by General Doe. 

Last weekend. Mr. Hannon se- 
lected a 50-member committee to 
conduct an official ballot count in 
private, an apparent violation of 
the new laws. 

According to independent ob- 
servers here, the counting commit- 
tee includes two senior aides to 
General Doe, 19 members of the 
general's Krahn tribe, winch makes 
up S percent of Liberia's popula- 
tion of two million, and many 
avowed supporters of General 
Doe's political party, the National 
Democratic Party erf Liberia. 

The opposition Liberian Action 
Party charged Monday, and inde- 
pendent observers said Tuesday, 
that ballots cast against General 
Doe were pulled from ballot boxes 
last weekend and replaced with 
ballots for him. 

An observer said that General 
Doe’s party has decided to an- 
nounce that the head of state offi- 

Shdc Jackson Doewon ! 40percent WattlS A gaiTlfi t Sidlllg With POW 6T BloCS, Criticizes U.S. 

and two other candidates split the ° D • . 

By Elaine Sciolino 

New York Times Service 


Fabius to Attend French Nuclear Test 

PARIS {API — Minister tot 

in theMunnoa lagoon fronting from the French magazine 

The first photograph of the phenomenon appeared m a rreo™inaga«u*- 

has admowiadged that 

anti-nuclear protest ship Rainbow Wamor m 

My 10 , ffiiga photographer. Two French agents face 

in New Zealand on Nov. 4. 


Greenpeace 
New Zealand, on Jul; 
pretrial hearings 


. .... 

IbtagdoMfMi 

Prime Minister Rajiv Gandhi of India reads a statement aboot apartheid in Sooth Africa to 
a gathering at the UN, as Indonesia’s foreign minister, Mochtar Kusmnaatnnadja, listens. 

Gandhi Reaffirms Nonaligned Policy 


Progress Reported in Lebanese TaJks^ 

in Damascus next month aimed at endrng 10 years of ervil war, Syrian ana 

Lebanese sources said Wednesday. nnwrful 

Bie Hobeflca, leader of the Lebanese Forces, the mod 
Christian militia, returned to Beirai on Wednesday saving that "we are cm 
the right track” after seven hours of talks Tuesday u Da™***® Wlth 
chief mediator. Vice President Abdel HaHm Khaddain of Syna. 


Despite Mr. Hobeika's optimism, sporadic skrnmsMs coninmearanj 
Wednesda y across the Green Line dividing Beirut s Moslem and Cnns- 


uan sectors. 


Dutch Approval Expected on Missiles 

AMSTERDAM (Reuters) — The Dutch parliament is set to app rove a 
raft nnwmm * Thrirwiav with WadnnetOQ OS deplovillR Ua dUISC 


rest 

General Doe came to power in 
1980 when, as a master sergeant, be 
led a group of noncommissioned 
officers into the presidential man- 
sion and assassinated the president. 
WiZUam R. Tolben Jr. 

Since that Hme, US. government 
a«w«tano» to Liberia has increased 
sixfold. An avowed purpose of the 
rise was to entice Genoa! Doe to 
hold elections that would return 
the country to civilian rule. 

Leading opposition politicians 
argued Tuesday that the U.S. gov- 
ernment should pressure General 
Doe's government to call new elec- 
tions or resign. 


UNITED NATIONS, New 
York — Rajiv Gandhi, arriving 
here on his first visit to the United 
Nations since he became India’s 
prime minister, reaffirmed his gov- 
ernment's professed policy of non- 
alignment and warned against iso- 
lationism. 

In a speech to a meeting of the 
nations espousing nonalignment, 
Mr. Gandhi warned Tuesday that 
nations "not aligned with either of 
the power blocs face new and suds- 
ier threats of intervention, interfer- 
ence and pressure." 


U.S. Prepares Hussein Lauds 'Spirit’ of Peace Plan 

Arms Offer 


(Continued from Page t) 

the SDI program any time that 
would appear advantageous." 

Mr. Smith was sharply critical of 
the derision to “float this new trea- 
ty version just six weeks before a 
summit at which the ABM treaty 
was expected to be an important 
part.” 

He suggested an explanation 
may be that “it was a bargaining 
ploy looking to a summit accom- 
modation somewhere between the 
Soviet presummit position of no 
research at all and the Reagan new 
version of no limits on strategic 
defense development" 

One of Mr. Nitze’s observations 
to the House subcommittee seemed 
to support that view. When one 
congressman raised (he prospect of 
an amendment requiring the ad- 
ministration to stick to the restric- 
tive interpretation of the ABM 
treaty. Mr. Nilze responded that “if 
Congress limits the executive 
branch, then it is not necessary for 
the Soviets to make any trade with 
the United States on this issue." 

■ Geneva Negotiators Meet 

U.S. and Soviet negotiators on 
strategic midear forces met in Ge- 
neva on Wednesday, The Associat- 
ed Press reported. No details of 
their talks were released. 


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(Continued from Page I) 
tion. which be appeared to blame 
on the PLO. 

The king said he did not know 
yet all of the facts surrounding the 
cancellation of the London talks. 
But based on his review to date, he 
said, the talks were called off after 
the PLO refused to sign a declara- 
tion that renounced violence and 
that implicitly recognized Israel's 
right to exist 

Hussein stressed that Britain was 
not to blame for canceling the ses- 
sion, that it had acted “above 
board and within its rights.” By 


Nuclear Offer 
To Iran Cited 

(Canlimied from Page 1) 
promise intelligence capabilities 
that have allowed close monitoring 
of China's nuclear program. 

Vice George President Bush, 
who just returned from a six-day 
trip to China, defended the nuclear 
agreement Tuesday. “We wouldn't 
enter into any agreement that 
would cause an increase in the pro- 
liferation of nuclear weapons " he 
said. 

Critics charge that the adminis- 
tration made the agreement with 
China to score a foreign policy suc- 
cess for Mr. Reagan, despite seri- 
ous Pentagon, CIA and congressio- 
nal concern about whether China 
has aided nuclear programs of nar 
tions expressing interest in devel- 
oping such weapons. 



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contrast, the image of the PLO had 
unfortunately been “adversely af- 
fected,” he said. 

He said he hoped his review 
would be completed by next week 
after he and Yasser Arafat, chair- 
man of the PLO, had an opportuni- 
ty to discuss the incident and other 
recent events. 

With respect to the Achille 
Lauro affair, in which members of 
a PLO splinter group killed an el- 
derly American, Hussein said that 
the PLO and the Palestinian cause 
had suffered “a serious setback” 
because of the episode. 

Pressed repeatedly as to whether 
the PLO's involvement in the hi- 
jacking and the collapse of the talks 
with Britain had made the PLO an 
unsuitable partner for Jordan in 
peace efforts, the king offered a 
qualified response. 

“The Palestinian cause has suf- 
fered some serious setbacks recent- 
ly, so we will have to see what must 
be done,” he said. “But if there is to 
be a solution to the Palestinian 

E " m, as it is called — the Arab- 
problem winch has its roots 
in the denial of Palestinian rights 
— then the Palestinians must be a 
party to the solution.” 

“And they have a legitimate rep- 
resentative," he said. “So long as 
that is a fact, we mil have to see 
what can be done to ensure that we 
move towards a common objec- 
tive.” ■ 


UX, Saudis Deny 
Commissions Paid 

Agence Frunce-Pros* 

LONDON — The British and 
Saudi Arabian governments have 
denied a report by the weekly Ob- 
server newspaper of London that 
Britain paid commissions in the 
sale of 132 British-made military 
aircraft to Saudi Arabia. 

The British defense secretary. 
Midtael Hesdtine, in a statement 
made public Tuesday, said that 
Britain “has paid no commissions.” 
An official of the Saudi defense 
and aviation ministry also denied 
that commissions had been paid, 
adding that arrangements had been 
made “directly and officially.” 

Mr. Heselune said that the 
agreement was “on a government 
to government basis” He added: 
“Is such circumstances, the British 
government doesn’t employ agents 
and the negotiations covering its 
role are conducted by diplomats 
and dvfl servants in the normal 
way.” 


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“On die other hand,” the king 
added, “1 can't be more specific at 
this rime than to say that there are 
lots of things on my mind that need 
to bedeared up once and for all at 
this delicate staff to see in a short 
space of tune where we all stand.” 

Hussein also praised Jordan's 
rapprochement this week with Syr- 
ia, which has staunchly opposed 
not only Mr. Arafat's leadership of 
the PLO but the Feb. 11 accord 
signed by the king and Mr. ArafaL 

He said that just as his accord 
with the PLO had helped coordi- 
nate actions between “members of 
one family" the three-point agree- 
ment signed with Syria on Monday 
was useful in outlining principles 
that would guide coordinated 
peace efforts. He noted that the 
statement called for adherence to 
the Middle East peace plan adopt- 
ed atthe 1982 Arab L eagu e sum- 
mit. 

This plan, the king argued, was 
not inconsistent with Ins accord 
with tiie PLO. 


Air Force One 
MoyBeRepl 


MlrKi’t 


The Associated Press 

WASHINGTON —Twenty- 
three years after U.S. presidents 
began flying in a Boeing 707, 
the Pentagon is asking Con- 
gress for permission to trade in 
Air Force One for a newer, fast- 
er and bigger jet. 

Defense Department and 
U.S. Air Force officials say the 
decision to press forward with 
tire request was made within tire 
past month. If all goes as 
planned, a formal solicitation 
will be issued to aircraft manu- 
facturers before the end of the 
year and a contract awarded by 
next June. The first plane could 
be delivered by late 1988. 

The term Air Force One is a 
radio call sign applied to any 
airplane that is carrying the 
president. There are actually 
two modified 707s maintained 
by the 89th Military Airlift 
Wing at Andrews Air Force 
Base outride Washington, ei- 
ther of which can be used by the 
president. 


“The world continues to be 
threatened by bloc antagonisms 
and disfigured by inequalities,” 
Mr. Gandhi told a standing-room- 
only crowd in the Trusteeship 
Council chamber that included 
leaders from around tire globe. 
“We prize oyr independence and 
equality and reject attempts to 
dominate us.” 

Mr. Gandhi launched a veiled 
attack on the United States, saying 
tha t “the United Nations itself has 
recently become a target for power- 
ful nations who decry its methods” 
and “seek to reduce their own com- 
mitment to it and bypass it on ev- 
ery conceivable occasion.” 

The United States recently an- 
nounced its intention to cut back 
its contribution to the United Na- 
tions unless weighted voting on 
budgetary matters is adopted, and 
also announced its withdrawal 
from political cases considered by 
tire International Court of Justice. 

The symbolic importance of Mr. 
Gandhi’s decision to make his UN 
debut by addressing the nations 
professing nonalignment, rather 
than another forum, was lost on no 
one. India currently beads the non- 
aligned group, and Mr. Gandhi has 
established a reputation as a cham- 
pion of that movement 

[Mr. Gandhi met Wednesday 
with President Mohammed Zia ul- 
Haq of P akistan. An aide said the 
two “emphasized the need to im- 
prove bilateral relations." accord- 
ing to United Press International 
Mr. Gandhi “articulated the great 
concern by India” about Pakistan's 
nuclear weapons program, he said. 

[General Zia reassured the Indi- 
an leader his country “did not have 
such a nuclear program," the aide 
added.] 

In other speeches Tuesday: 

• The prime minister of Sri Lan- 
ka, Ranaringhc Premadasa, ap- 
pealed to the General Assembly to 
approve an emergency resolution 
asking the United States and the 
Soviet Union to reduce their mili- 
tary expenditures by 40 percent 
over the next five years. 

• President Mauno Koivisto of 
Finland spoke of his concerns 
about global security and nuclear 
warfare. “Many questions haunt us 
at this anniversary celebration: Do 
we live today in a better world than 
we did 40 years ago?” he said. * 

“Is there now less violence and 
warfare? Is there less human suffer- 
ing in the world? Do the nations 
feel more secure and confident in 
their future? Simple answers are 
not possible.” 

“But these questions are worth 
asking. I am afraid that some of the 
answers would not meet the expec- 
tations of the statesmen who creat- 
ed the new world organization in 
1945." 

• The chancellor of Austria, 
Fred Sinowatz, outlined four pro- 
posals that be suggested would 
strengthen the world organization 
and “replace resignation with con- 
structive" hope. 

The proposals called for 
Security Council responribi 
maintaining world peace, a more 
active role for the secretary-general 
in resolving crises, the solution of 
“pressing economic and social 
problems” around the world and 


continued operations of UN peace- 
keeping forces. 

• President Radovan Vfojkovic 
of Yugoslavia called on the Gener- 
al Assembly to “oppose having key 
world problems resolved within the 
narrow circles erf the big and 
mighty" 

Mr. Vlajkovic said Yugoslavia, 
one of the founding members of the 
world organization, desired “the re- 
newal and promotion of the pro- 
cess of substantive negotiations 
within the framework of die United 
Nations." - 

He said be hoped the “great 
powers” would reduce the possibil- 
ity of conflict through their re- 
newed negotiations. But for. de- 
tente to become “all-embracing,” 
he said, every country in the world 
must take part 

• Prime Minister Turgut Ozal of 
Turkey said that the United Na- 
tions sboald give “a new impetus” 
to efforts to settle regional conflicts 
and promote economic 
tion. Turkey, he said, “has a > 
stake is the peace and stability of 
the region.” 


U.S., Spain 
Open Talks 
On Troops 

Reuters 

MADRID — The United States 
and Spain began defense talks 
Wednesday that are expected to 
focus on Madrid’s demands for a 
reduction or U.S. military person- 
nel, diplomatic sources said. 

The sources said the three-day 
talks would cover Span's contribu- 
tion to Western security and Euro- 
pean defense.. The meetings are ex- 
ploratory and are to set the agenda 
for discussions expected to lari sev- 
eral months. 

The talks stem from changes in 
defense policy after the Socialist 


i covers 


arrangements for siting and control of the nuclear missil e s , made it dear 
that the agreement would win a majority in wring Thursday, they added. 

Foreign Minister Hans van den Broek said the cabine t would make 
final derision on deployment on Nov. I and then would introduce 
legislation as quickly as posable to confirm the placing of the weapons. 
The deployment would be part of aNorth Atlantic Treaty Organization 
plan to place medium-range missiles in Europe. 


North Korea Reports Rebuff by South 


NEW YORK (WP) — The 
North Korean foreign minister. 

Sooth Korea had rebuffed North 
Korea's proposal for what would 
have been an in ter- Korean mertmg 
at the highest level since 1972. 

Mr. Kim. expres si ng regret and 
“great surprise/’ said the meeting 
would have taken place in New 
York this week between Vice Presi- 
dent Pak Sung Chul of North Ko- 
rea and Pr ime Minis ter LhO Shin 

Yang of South Korea. Both offi- 
cials are here for the 40th anniver- 
sary observances of the United Na- 
tions. 

Mr. Kim said a meeting in New 
York would have been more than a 
session and could 
provided “one of tire best op- 
portunities” to discuss matters of 
mutual concern. The Sooth Korean 
Embassy hud no comment. In 1972 
the president of each cormtiy re- 
ceived a high-levd delegation from 
the other. 


k- 



Journalist Groups SupportrlliNESCO 

SOFIA (AjP) — A group of international and regional organizations 
representing nearly half a million journalists throughout the world issued 
a statement Wednesday s upp o rtin g UNESCO's c om m u n j caticms active 
ti«. ... 

Ilian of 


Journalists based in Prague, the Brussels-based htiematMaaTFederatian 
of Journalists, the Latin American Federation of JounrafiriSi the African 
Union of Journalists and die Confederation of Southeast Asian journal- 
ists. A commission erf the General Conference of die United Nations 
F/fii raKitnal S cientifi c and fnttnral rtr pmb i ni nn lBKl'^nni l w fm i n nnl 

on a S14.7-nrilIion communications program in the 1 986-87 budget. The 
conference, attended by 152 nations, began Oct- Sand is to end Nov. 12. 
Four of the organizations were rmsncccssftd in thareffort to convene a’)* ' 

UNESCO-badced meeting in Mexico CbjJ m Much an theprotectico of 1 • 

government reversed its opposition journalist* Instead the issuewas dealt with at * meeting of the Ldemar 
to Spain's membership in the tional Red Cross in Geneva in April, whose participants indnded 

representatives of Western media groups. 


U.S. Bill Would Extend Summer Time 

WASHINGTON (UPI) — A lull drat would lengthen dayUgjht-saving 
time by four weds has passed the House of Representatives and now 
goes to the Senate. Under the bilV daylight-saving time would begin on 
the first Sunday in April and end on die first Sunday of November. 

Daylight-saving time, also called summer' time, when docks are set 
foiwmdtoaddanextrahourofdayligbtiB the evening, now begms on the 
lari Sunday in April and ends on die last Sunday in October. Most of 
Europe starts and stops summer time a month earner.'- 

The legislation was passed on Tuesday, 240-157. If would allow states 
to exempt themsdves. If enacted, the law would go into effect next year. 


North Atlantic Treaty 
tion — hastily agreed to by a cen- 
trist government in 1982 — shortly 
before it lost the elections to the 
Socialists. 

Prime Minister Felipe Gonzalez, 
tied by earlier promises to call a 
referendum on NATO member- 
ship, has stated that be will cam.- 
paign lor continued mem' 
linked to a reduction in 


United States has more than 
12,000 troops stationed at three air 
bases and a naval base under a 
friendship treaty that has been pe- 
riodically renewed since 1953. 

Hie outcome of the referendum, 
likely to take place next spring, 
remains uncertain. Opinion poBs 
consistently have shown thatama- 

■nnHl r*f Af wWa on/lino 


For the Record 

Afghanistan has ordered ad its male nationals up to 40 years of a 
enlist for three years of military service, even if they already 





Laxalt Cites Marcos Pledges 


Lari week, a poll showed for the 
first time that a majority favored 
keeping Spain in NATO, but out- 
ride its military structure, while 
cutting the number of U.S. troops. 

Socialist sources said that Mr. 
Gooziiez would have liked U-S. 
concessions on troop numbers to 
help swing public opinion in favor 


(Continued from Page 1) 
cated a willingness in Manila to 
relax the tight grip that Mr. Marcos 
and his political allies, including a 
cadre of generals loyal to General 
Ver, have on troops fighting the 
insurgents. American rmtitaiy and 
intelligence officials have said the 
Philippine military is hampered by 
corruption and demoralization 
stemming from Manila's direct 
control. 

' According to the official, Mr. 
Marcos acknowledged that “he had 
a credibility problem” and volun- 
teered to allow news organizations 
and UB. officials at the local elec- 


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lions scheduled next year and the 
national elections set for 1987. 

An administration official who 
said he had read cables from Amer- 
ican diplomats in Manila about the 
Laxalt mission said they painted a 
gloomier picture of the encounter. 

The official said Mir. Marcos had 
listened without a sign of approval 
as Senator Laxalt laid out the ad- 
ministration’s concern about the 
spreading insurgency of the Com- 
munist New People's Army, the ev- 
idence of growing anti-Marcos sen- 
timent and the need for economic, 
mili tary and political changes. 

“He dismissed Laxalt’ s points 
one by one,” the official said. 

But a White House official in- 
sisted “The mission was a success 
in terms of getting Marcos’s atten- 
tion.” 

M Provincial Governor Is Slain 

G unm en believed to be Commu- 
nist rebels shot and killed the gov- 
ernor of southern Surigao del Sur 
province Wednesday after blocking 
bis jeep on a highway of the provin- 
cial capital, the Philippine News 
Agency reported, according to The 
Associated Press. Governor Gre- 
MuriQo, 58, a physician, was 
_ ^ it- ranking official to die 

is a guerrilla ambush in the Philip- 
pines this year. 


membership 
assured. 

Delegations at Wednesday's 
talks were hearted by die U.S. am- 
bassador to Spain, Thomas O. En- 
decs. and Maximo Cajal, the secre- 
tary-general of the Spanish Foreign 
Ministry. 


Press Trust of India reported Wednesday. (AFP) 

An earthquake measuring 6.7 on theTGchter scale rocked the Lesser 
Sunda islands of Indonesia on Wednesday, but there were no reports erf 
ca su al ti e s or d a mag e: the In do nesian Meiearotogv Agency said in Jnkar . 
ta. The islands include Bah, Alar and Timor. (AP) 

Ihe coodfion si Anthony MaatKa, the first recipient of an artificial 
heart developed by Pennsyivama State University, was upgraded to 
“critical but stable 4 on Wednesday. Mr. Maiufia had slipped £ and out 
of deep unconsciousness Tuesday. (AP) 

Charles Fried, a Harvard tew professor, was confirmed by the U.S_ 
Senate on Tuesday as solicitor general The solicitor general is the 
government's drief advocate in the Supreme Court. (NYTl 

The PMadeteMa Inquirer Mt the nevrastaads Wednesday morning for 
the first time since employees went on strike 47 days ago and the Daily 
News was dne out later ur the day. . . ' (UPI) 

Two bombs exploded hi brad hi the ntoHiripal martlet of the Galilee 
town of Aftrla on Wednesday, wounding five persons, one serioudv r, 1 
hospital officials said. 


seriously, 

(UPI) 


Xu Shiyou, Ex-Chinese General, Dies 

“Romancing the Stone,” Monday 
when the sports car in which site 
was nding skidded out of control 

n J?^V. a .-? ok! - south Malibu 
B^^alifoima, the police said 

Harold Smith Sr ’ 


The Associated Press 

BEIJING — Xu Shiyou. 80. a 
former military commander in 
Guangzhou and member of the 
Communist Party’s ruling Politbu- 
ro, died Tuesday in Nanjing of un- 
disclosed causes, the Xinhua news 
agency said Wednesday. 

In 1935, he ted a detachment of 
the Communist insurgent forces on 
the grueling Long March from 
southeast to northwest China and 
his immense physical strength and 
bravery quickly made him a legend 

Mr. Xu was an ally of the Chi- 
nese leader, Deng Xiaoping, and 
reportedly was a vocal advocate of 
Mr. Deng's rehabilitation in the 
1970s. 

But in 1980, Mr. Xu iori his post 

as Gngngrhnu co mmander m a 


move regarded as an effort to put 
modem-minded men in charge of a 
military force that had been criti- 
cized for old ideas, backward 
equipment and poor (uscqthne. 

Mr. Xu became a member.of the 
party Central Committee and Po- 
litburo in 1 969 under Mao, but was 
demoted to deputy chairman of the 
party central advisory commission 
in 1982, apparently to allow him .to 
retire. 

■ Other deaths:. 

Henry Horabiower 2d, 67, a Bos- 
ton stockbroker, amateur high man 
and founder of the Pfirnduth Plan- 
tation living history rnwaaim. of -a 
heart auackSuuday in Camtaidff,' 
Massachusetts. ■ 

Diane Seat 7hom J9, who 
wrote the screenplay for the movie 


& 


pioneer who founded 

Gub in Rrao, Nevada, ia" l 93 ff 
Monday in Reno. 

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INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


Page 3 


Could Cause a Default 


U.S., Nicaragua Mix Rhetoric, Diplomacy 


' By Gerald M. Boyd 

New York Times Service ' 

WASraNOTON-The Reagan 
administration has warned that 
emergency fiscal. steps win haws to 
PL*** m November if Congress 
fails 10 improve legislation raising 
the federal debt ceilmg. 

Treasury Secretary James A. 
Baker 3d, at a While House meet- 
jng ; with : Republican congressional 
leaders Tuesday, said that faflure to 
act in the next few days would 
result in complex maneuvers in- 
votvmg the Social Security' fund 


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first week m November to raise the 
cash needed to cover benefit 
checks. 

Mr. Baker warned that the gov- 
ernment “wonld certainly default 
on other obligations on Nov; 15 
without congressional action to lift 
the eating.' 

The aii cut federal borrowing 
Hmit is SI. 824 triDion. Representa- 
tives have balked at adopting a 
Senate-passed ceiling of more than 
S2 triDion because attached to it is 
a controversial measure aimed at 
requiring a balanced federal bud- 
get- The package is now before a 
House-Senate conference. 

Lany Speakes, the White House 
spokesman, said after the meeting 
that “by Nov. 15, the rally alterna- 
tive” way to rase cash “would be to 
sefl gold belonging to the United 
States, which. 1 don't believe any 
member of Congress wants." 

The Treasury secretary, however, 
in a letter to House and Senate 
conferees on the debt cefling; bin, 
wrote: “The president and 1 are not 
prepared to take that step because 
it would undercut confidence here 
and abroad based on the wide- 
spread belief that the gold reserve is 
the foundation of our financial sys- 
tem and because the Congress . 
clearly has the power to prevent a 
default by assuming its responsibiU . 
ity with respect to the debt limit" 

The belief to which Mr. Baker 
referred is no longer shared by 


MCI 


v.pj\ortD© 


US. Social Security 
To Rise 3.1% in 1986 

ignited Press International 

WASHINGTON — Social 
Security recipients win get an 
increase in benefits of 3d per- 
cent on Jan. 1. 

September’s increase of two- 
tenths of 1 percent in the Con- 
sumer Price Index, announced 
Wednesday, was the list figure 
necessary for the Social Securi- 
ty Administration, to oompute 
its 1986 cost-of-Eving increase. . 
The average benefit will rise 
from $464 a month to $478. 


- a-- tv 

many ccoturams^ - at nmsbocs. 
The United State severed the Eds 
between gold and theconency and; 
between gold and the international 
value of the dollar in the 1960s and 
early 1970s. 

The biggest uncertainties might 
be how much gold the -Treasury 
would put on themaricet. presum- 
ably in the form of ah auction, and 
how much the supplies 

would drive down the price or gold,, 
which was $327.25 an ounce in 
New York Tuesday .afternoon. 

To get around the debt limit, the 
government has been operating 
with $3 union rssed Oct, 9 in a; 
novel use of the Federal Financing 
Bank, a bookkeeping, affiliate of 
the Treasury whose obligations are 
not subject to the JlAW-fcfllico 
debt ceding. 

Mr. Baker said in the hater that, ' 
even if the government used some 
remaining S 10 billion in Federal 
Financing Bank borrowing author- 
- ity, it would have .a “negative bal- 
ance" on Nov. 1, widening to more 
than $5 billion by Nov. 4. 

Mr. Speakes said that the gov- 
ernment would be "forced" to dip 
into .trust funds in order to cover 
checks already issued under Social 
Security, Railroad Retirement and 
other pension programs by Nov. 4 
at the latest 

A Treasury spokesman, Arthur 
SMrip p, explained that cadi would 
be borrowed in the money romket. 
then securities held by each of the 
trust funds would be retired to keep 
outstanding debt from exceeding 
the ceiling. ■ 

Mr. Speakes said it was unclear 
how other government checks 
would be honored after funds bor- 
rowed through the firanring bank 
are exhausted. 

• The spokesman had raised the 
possibility Oct. 8 that banks might 
decline to honor government 
checks, but Robert J. Dole, the 
Senate majority leader, said Tues- 
day that such statements now had a 
hollow ring became of .the emer- 
gency cash borrowing. 

. “1 think there's a credibility- 
problem there to some extent, but 
Secretary Baker assured os that this 
is it, that he has to foDow the low, 
this is the law, and the president 
doesn’t want to sell off any gold, 4 
he said. . .. 

In the meeting, Mr. 

Mr. Reagan repeated 



President Daniel Ortega Saavedra of Nicaragua and Ins 
wife, Rosario MuriBo, appeared on NBC’s Phil Donahue 
show in New York on Tuesday. Mr. Ortega was in New 
York to mark the 40th anniversary of the United Nations. 

Anti-Bias Rule Survives 
Debate in U.S. Cabinet 


said, 

_ call for 

the passage of ihe-bQl requiring a 
balanced federal .budget. The legis- 
lation, which is attained to the MD 
raising ; the debt ceiling limi t, would 
mandate a decline hi the deficit by 
$26 billion a year until it reached 
zero in >991.. : j - \ 


By Howard Kurtz 

H iahtagion Part Service 

WASHINGTON — ■ A Justice 
Department effort to weaken a 20- 
year-old executive order on affir- 
mative action for government con- 
tractors has lost some momentum 
as a cabinet council delivered a 
split-verdict on the plan and gave 
President Ronald Reagan three op- 
tions from which to choose. 

The cabinet's Domestic Policy 
Council met Tuesday after the Sen- 
ate majority leader, Robert J. Dole, 
and the House minority leader, 
.Robert H. Michel, joined 1 75 mem- 
bers of Congress. nvQ righ ts groups 
and business spokesmen in oppos- 
ing changes m the 1965 order. 
Democratic lawmakers have pre- 
pared legislation to block any 
change: 

At issue is the Labor Depart- 
ment’s authority to require 15.000 
federal contractors, whose compa- 
nies employ a total of 73 million 
workers, to meet numerical goals 
and timetables in hiring and pro- 
moting women and members of ra- 
cial minority groups. 

As recently as two weeks ago, it 
appeared that Attorney General 
Edwin Meese 3d, who wants to 
abolish affirmative action goals 
and timetables, had prevailed over 
Labor Secretary W illiam E Brock, 
who wants to preserve most of (he 
current roles. 

But the council, beaded by Mr. 
Meese, voted after a heated discus- 
sion to send Mr. Reagan three op- 
tions. The issue's sensitivity was 


underscored by the fact that most 
of the cabinet attended the session, 
as did the White House chief of 
staff, Donald T. Regan. 

Earlier, after meeting with Mr. 
Reagan on other issues, Mr. Dole, a 
Kansas Republican, said: “My 
view is they shouldn't change the 
executive order. Leave it as it is." 

He said that Mr. Brock could 
resolve any problems “through reg- 
ulation. rather than change an ex- 
ecutive order that's been around 
for 20 years." 

Mr. Michel, an Illinois Republi- 
can. added. “When it works, you 
don’t fix it" 

Sources said the first cabinet op- 
tion, which Mr. Meese advocated, 
would bar the Labor Department 
from penalizing companies for fail- 
ing to meet numerical hiring goals, 
which Mr. Meese views as consti- 
tuting illegal quotas. 

While allowing businesses to set 
voluntary goals for hiring firing 
and promotions, the Meese propos- 
al would say that there is no “legal 
bans" for plans that discriminate 
by race or gender. 

The second option, favored by 
Mr. Brock, would leave the execu- 
tive order unchanged but would 
have the Labor Department revise 
the program’s rules to ease the bur- 
den rat businesses. The department 
was planning to do this anyway. 

. A third option would preserve 
the executive order but add lan- 
guage barring the use of fixed quo- 
tas and promising to ease regula- 
tions, sources said. 


By William R_ Long 

Lett Angela Tima Sen ice 

MANAGUA — When the Yan- 
kees come, Don Canute tefis Dona 
Cayetana, the Nicaraguan people 
must meet them with rifles, ma- 
chetes, ice picks, knives and axes. 

“WeU even throw boiling water 
on Lhem," says Dona Caygana. a 
grandmotherly cartoon character 
id an official Nicaraguan civil de- 
fense booklet. “Right, well have to 
use everything to fight those Yan- 
kee sons' of . . ." says Don Canuto. 

it is the rhetoric of war — Nica- 
raguan patriots vs. Yankee aggres- 
sors. And the Nicaraguans believe 
that the rhetoric is justified because 
of U.S. support for the rebels who 
are waging guerrilla war on the left- 
ist Sandinist government. 

But along with the hostility, 
there is an incongruous element of 
civility. While the two governments 
are at each other's throats, they 
continue to observe the niceties of 

full diplomatic ties. 

The Yankees, in fact, are already 
here; they go about their official 
business in the sprawling U.S. Em- 
bassy on a shady avenue at the edge 
of Managua. 

Embassy personnel and their 
families face no uninj iai securiiv 
risks — no kidnappings or car 
bombs. The only notable activity 
directed against the embassy is the 
periodic demonstration outside by 

S ro- Sandinist Americans living in 
liea rag ua or visiting the country. 
About 50 Li S. citizens work in 
the embassy. After Cuba and the 
Soviet Union, the U.S. diplomatic 
mission is largest in Managua. 

The Reagan administration and 


ihe Sandinisis each have their rea- 
sons for maintaining diplomatic re- 
lations. 

Arguments fra breaking rela- 
tions gained strength within the 
Reagan administration in April, af- 
ter Congress voted down an admin- 
istration proposal for new military 
aid to the guerrillas. Some con- 
gressmen said they opposed the aid 
because it did not make sense to 
support a war against the Sandin- 
ists and keep diplomatic relations. 

But the administration softened 
the aid proposal to proride only for 
“humanitarian assistance" such as 
clothing and medicine. In June, 
Congress approved $27 million in 
nonmilitary aid, and the threat to 
diplomatic relations evaporated. 

Because the administration 
hopes to renew the aid in early 
19S6. it continues to tailor the trap- 
pings or its Nicaragua policy to suit 
wavering congressmen. To those 
who fear criticism for supporting a 
militaristic policy, the continuing 
diplomatic ties can be offered as 
proof that the policy is more than 
just support for the rebels. 

Diplomatic relations also are 
useful for fending off demands that 
the United States resume a series of 
U-S.-Nioraguan talks that were 
held last year in the Mexican resort 
city of Manzanillo. As long as regu- 
lar diplomatic channels are open, 
the administration contends, the 
Manzanillo talks are not necessary. 

There also are advantages for 
Nicaragua in maintainin g ties. 

The government says that U.S. 
public opinion and congressional 
pressure can influence Lfae Reagan 
administration against direct mili- 


tary intervention. And diplomatic 
relations with the United States 
give Nicaragua important channels 
of communication with the public 
and Congress, said Alejandro Ben* 
riana , a high official in the Nicara- 
guan Foreign Ministry. 

“It is in our interest," he said, “to 
maintain all possible avenues for 
carrying on a direct dialogue with 
all sectors that will listen to us in 
the United States. We believe firm- 
ly that reason will prevail in the 
United Stales and we must work 
patiently until it is recognized that 
Nicaragua is not a threat.” 

The Nicaraguan government has 


helped organize a steady stream of 
Ui. visitors who come 'to “see for 
themselves" whether the Sandinisis 
are dangerous communists, as 
Washington contends. 

Without diplomatic ties, such 
Nicaraguan efforts would be more 
difficult. Mr. Bendana said that the 
Reagan administration wanted to 
“curtail that type of communica- 
tion" but not to sacrifice its Mana- 
gua embassy. 

"They don't want to close the 
embassy here because they would 
lose a whole system of espionage." 
he said. “The:/ know when every 
toilet flushes in Managua." 


25 Percent of AIDS Victims 
InlLS. Are Black, Expert Says 


■Yew York Tuna Service 

WASHINGTON — Black peo- 
ple in the United States are being 
disproportionately afflicted by ac~ 
quired immune deficiency syn- 
drome, according to an expert in 
infectious diseases. 

Dr. Wayne Greaves, chief of in- 
fectious diseases at the Howard 
University Hospital, said Tuesday 
that blacks account for about 25 
percent of the 14,000 cases of .AIDS 
reported in the United States, while 
they make up only about 115 per- 
cent of the population. 

He died several reasons why- 
black people suffer disproportion- 
ately from AIDS. In many cases, he 
said, the overall health of Macks, 
and the health care available to 
them, is poor, maki ng them more 
vulnerable to infections. In cities 
where intravenous drug users are a 
major source of the disease, he add- 
ed,; blacks are a high proportion of 
tjSe, addicts. Moreover, AIDS has 


thus far been heavily concentrated 
in a handful of cities where blacks 
may comprise a high proportion of 
the urban population. 

Also on Tuesday. The U.S. Sen- 
ate voted to spend S221 million for 
research and treatment programs 
against AIDS u ii approved, S3* 15. 
a 5105-billion spending bill that 
funds major federal soda] pro- 
grams through next September. 
The House voted OcL 2 to spend 
S190 million on AIDS programs. 


US. Union Chiefs Suspended 

Sew York Times Service 

WASHINGTON — A U.S. 
judge ordered the leaders of the 
three biggest unions for federal 
workers suspended Tuesday from 
federal employment for 60 days on 
his finding that they had illegally 
engaged in partisan politics by sup- 
porting the 1984 presidential cam- 
paign of Walter F. Mondale. 


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WATERFRONT 
DEVELOPMENT SITE 
NEV\TORT OREGON 
UNCOLN COUNTY 

90+ acre parcel. Ideal tor destination resort and com- 
mercial marina development. Fronts both Yaquina Bay 
and the Pacific Ocean. 

SILTCOOS LAKE CLUB 
RESIDENTIAL SUBDIVISION 
FLORENCE, OREGON 
LANE COUNTY 

132.45 acre residential subdivision with lake frontage 
near Florence. Partial platting of lots has been 
completed. 

KLAMATH HEALTH CLUB 
KLAMATH FALLS, OREGON 
KLAMATH COUNTY' 

1.23 acre commercial zoned parcel improved with 
±20,000 sq. ft metal building; ‘currently the Klamath 
Health Club. 

BUILDING LN 
SHOPPING CENTER 
MEDFORD, OREGON 
JACKSON COUNTY 

Approx. 7,200 sq. ft. concrete block structure on 1.0 
acre lot. Former Ballbangers Racquet Club, 

IMPROVED LAND PARCEL 
BROOKINGS, OREGON 
CURRY COUNTY 

.95 acre secluded parcel located in Brookings Harbor 
Hills. Improved with one 2,400 sq. ft. home, 2 mobile 
home pads and space for RV parking. Commercial 
zoned, near shopping center. 

RESIDENTIAL SUBDIVISION 
ASHLAND, OREGON 
JACKSON COUNTY 

24.2 acre unimproved subdivision. Ideal for PUD de- 
velopment. Zoned R1-5P, 


MEDFORD INDUSTRIAL PARK 
WHITE CITY OREGON 
JACKSON COUNTY 

Remaining property within the Medford Industrial 
Park, consisting of 17 land parcels (250 ± acres); 4 
leased buildings and developer’s office building 
(74,700 ± sq. ft). Railway access and all utility services 
are available. 


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CATALOGUE BY CALLING (213) 
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AUCTION CONDUCTED BY 
KENNEDY-WILSON, INC. 

1299 OCEAN AVE, SUITE 220 
SANTA MONICA, CA 90401 

©1985 Kcnnedv-Wilson, Inc. 


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Page 4 



INTERNATIONAL 



(tribune. 


Publis-hed Vilfa The Ne* York Time* and The ’WauUngioo Pma 


Immuniz e the Children 


It is often said about the United Nations 
that, however vexing its political forums, the 
specialized agencies do vital work. That is 
often true, and some of the work comes into 
deserved focus today. As part of the world 
organization’s 40th anniversary, the secretary- 
general has arranged to have the General As- 
sembly give a ceremonial boost to the cam- 
paign to get every member state to immunize 
all its children against diphtheria, tuberculosis, 
poliomyelitis, wbooping cough, measles and 
tetanus by 1990. The six diseases are estimated 
to take millions of lives a year. They hover over 
families in the Third World like a dark cloud. 

The startling thing about the immunization 
campaign, launched in 1974. is how quickly it 
has become feasible to end a scourge that has 
marked the whole of man’s recorded history. 
Just in the last feu years the requisite medical, 
information and organizational resources have 
become widely enough available to make pos- 
sible the provision of life-saving services to 
people and to sectors of society who never 
previously thought to expect them. 

Much needs to be done both to spread an 
awareness among parents that their children 
can be saved and to assemble the vaccines, 


trained personnel and local networks of pri- 
mary health care. Much is being done, how- 
ever. by the World Health Organization, the 
United Nations Children's Fund and such 
regional bodies as the Pan .American Health 
Organization; by public authorities drawn by 
the political benefits as well as the social bene- 
fits of caring for their people (El Salvador 
broke off its war for three days earlier this year 
to lei the children be immunized): by the 
providers of the funds. Up front is the immuni- 
zation of children. Behind is the strategy of 
using that popular cause as the peg on which to 
organize comprehensive and continuing health 
care for people who have not had it. 

Inevitably the poorer and more debt-ridden 
countries face special difficulties in applying 
scarce energies and foreign exchange to a pro- 
gram whose principal benefits flow to people 
with little political power. The IMF, the World 
Bank and other funding sources must do their 
part to ensure that crucial financial adjust- 
ments are not made at the expense of the poor. 
Horn-tooting sessions like the one planned 
today at the 'United Nations can help toughen 
up the politicians who are on the front line. 

— THE WASHINGTON POST. 


A Better Deal for Aliens 


When it comes to aliens. .Americans are 
making a mess of both law and decency. 

Mess number one concerns the Big Wink, 
which for years has been about the only federal 
policy. Yes. it is nominally illegal for undocu- 
mented aliens to enter America. But as long as 
employers have wanted their labor, no one has 
worked overtime enforcing the law. 

Now Washington is starting to crack down 
on lawyers and others who facilitate fraudu- 
lent entry of illegals. That is a welcome sign of 
revitalization in the Immigration and Natural- 
ization Service. So is the increase in alien 
apprehensions, up 35 percent in two years. Yet 
these remain marginal initiatives as long as the 
job magnets pull in the alien tide. 

Mess number two is illustrated by Mayor 
Edward Koch's sensible, decent memo in- 
structing New York City employees not to 
turn in illegal aliens unless they are somehow- 
involved in" crime. On the surface that sounds 
like advocating lawlessness. But the instruc- 
tion is sensible and decent because it assails 
the lawlessness of the Big Wink. 

America has implicitly welcomed millions 
of illegal aliens. But once on the scene, they so 
fear discovery and deportation that many 
shrink from calling the police even after a rape, 
or from going to the hospital even when mor- 
tally ill. Social justice for these people urges 
that they get basic services. Sound government 
for the rest of society dictates that crime and 


disease be contained. Economic fairness ar- 
gues that Washington pay its share for the 
consequences of its permissive policy. 

The two aims seem contradictory’: Enforce 
vs. don't enforce. The contradiction can be 
bridged by tbe following propositions: 

• Illegal aliens sbould not be encouraged to 
sneak into the United States. 

• If they do get in. it is in the common good 
for them to have minimal services, like police, 
with the costs fairly apportioned. 

• If. having been nominally encouraged to 
beat the system, the}' do so for a long time, 
even a strict society should let them stay, under 
some statute of limitations. This is not Par- 
cheesi, m which players can be captured and 
sent home even at the last minute. These are 
real, anguished lives, and under present law 
the only aliens who can stay are those who 
arrived before June 30. 194S. 

All three purposes can be achieved by the 
Simpson-Rodino-Mazzoli reform bill pending 
in Congress. It would forbid employers to hire 
UlegaJs. thus tidying up the law enforcement 
mess. It would legalize aliens who have been in 
America for several years, alleviating the de- 
cency mess. It has already passed the Senate; 
the House Judiciary Committee has just fin- 
ished hearings. Reasonable people can now 
turn to the full House and ask whether, instead 
of winking, it will stare the problem down. 

— THE NEW YORK TIMES. 


Other Opinion 


Legal or Not, It Was Unwise 


The execution of a black poet in defiance of 


E leas for clemency from around the world may 
ave been a dulv processed leeal action in the 


have been a duly processed legal action in the 
name of law and order, but it was an unwise 
decision. Apartheid defies the universal princi- 
ple of equality of citizens that is a pillar of the 
free world to which South Africa has political 
affiliation historically. Any claim to a legal 
action ceases to be just when a government can 
no longer justify the stqn from the standpoint 
of morality and humaniiarianism. 

— The Japan Times {Tokyo}. 


which the Americans evidently declined to 
appreciate. The Achille Lauro affair began as 
an encouraging example of international co- 
operation against terrorism. It ended with a 
display of what must appear as imperial arro- 
gance on a scale which no sovereign country, 
least of all a NATO ally, could be expected to 
tolerate. Mr. Reagan sent a government envoy 
on a peace mission to Italy, but it will take 
more than that to repair the damage. 

— The Sunday Telegraph (London). 


Not the Way toTreat an Ally 


There can be nothing but satisfaction at the 
arrest and detention in Italy of the four Pales- 
tinian hijackers of the Italian cruise liner 
Achille Lauro. The United States was right {to 
force down the hijackers’ aircraft) even at 
substantial diplomatic risk. The war against 
international terrorism involves the accept- 
ance of painful consequences. Even so. tbe 
fallout from the Achille Lauro affair has been 
far more serious than was necessary. For this 
one can only blame a remarkable degree of 
American insensitivity and high-handedness. 

Repeatedly the Americans violated Italian 
airspace and territorial rights, and even ap- 
proached a military confrontation with Italian 
troops in their efforts to snatch the Palestin- 
ians from Italian custody and whisk them off 
to the United States. And these provocative 
tactics, accompanied by equally provocative 
words, failed even to achieve the objective 
of capturing the Palestinian mediator-cum- 
terrorist leader (Mohammed) Abbas. 

The problem presented by Mr. Abbas was 
one of extraordinary difficulty for Italy, a fact 


Mr. Reagan was right to object so strongly 
to the Italians' abominable handling of [Mo- 
hammed] Abbas. A nation so ready and able to 
combat terorists at home was all too unwilling 
to thwart a terrorist chier from abroad. 

— The Richmond (Virginia) Times-Dispatch. 


Testing the Troops for AIDS 


All 2.1 million members of the UJS. military 
forces are to be screened for the AIDS virus — 
a move that has profound significance for the 
government's posture on this vast new health 
menace. Serious questions surround what use 
will be made or [the tests] and whether the 
military will set an example lhaL other govern- 
ment and. possibly, civilian employers will 
follow. Military personnel with AIDS will be 
honorably discharged Those harboring the 
virus, but not yet sickened by it, are not to be 
assigned outside the United Slates, partly to 
avoid the risk of spreading the disease to sex 
partners in other countries. Across the coun- 
try. many segments of society are watching to 
see not only bow extensive infection with the 
AIDS virus is in the biggest group ever tested, 
but also what the United States will do to 
protect those round to be infected 

— The Boston Globe. 


FROM OUR OCT. 24 PAGES, 75 AND 50 YEARS AGO 


1910: Monarchs Hailed in Valencia 1935: Americans Prefer Neutrality 


MADRID — Reports from Valencia describ- 
ing the reception of the King and Queen are 
enthusiastic. They have received ovations from 
all classes and their way has been strewn with 
flowers. Valencia is considered a Republican 
stronghold, and apprehensions were enter- 
tained about the visit, but the result only gives 
evidence of Don Alfonso's popularity. The 
monarchs went to the cathedral to attend a Te 
Deum and examined the image of the Virgin of 
Desamparados. of which the jewels are among 
the richest in Lhe churches of Spain. Dona 
Victoria, taking from her breast a very rich 
jewel, handed it to (he authorities in charge Tor 
the image. This caused ovations from the 
women. After their return to the palace, the 
King and Queen were repeatedly called to the 
balcony by the cheers of the people. 


PARIS — The contrast between public senti- 
ment in Europe, which is tense with war fears, 
and feeling in the United States, where people 
are occupied with domestic problems, was 
emphasiznl by Kenneth C. Hogate. president 
of ’‘The Wall Street Journal" [on Ocl 23): “My 
strongest impression in Europe is the tenseness 
and anxiety caused by the Italo- Ethiopian 
conflict, which are entirely lacking in the Unit- 
ed Slates. There is no war Tear in America — 
that is. no fear of America's becoming entan- 
gled in any war. The United States has gone 
back to its isolationist position, and everybody 
is convinced and thankful that we are well out 
of the European imbroglio. Whatever Ameri- 
cans may think of the present administration 
in other respects, its neutrality policy is thor- 
oughly endorsed by public opinion.” 


INTERNATIONAL HERALD TRIBUNE 

JOHN HAY WHITNEY. Chairman /95J-/W 


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Co-Chairmen 


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G 1985. International Herald Tribune. All rights reserved. jwi-ariw 


THURSDAY. OCTOBER 24, 1985 


,il^ re 



Reagan Has pHr 11 
Diplomatic 
Leverage 


By Joseph Kraft 


\T EW YORK — Although he has 
iN recently made practically every 


INI recently made practically every 

foreign policy mistake ever invented, 

President Re agan comes to the Unit- 
ed Nations commanding extraordi- 
nary diplomatic leverage. 

Wounded friends rash to help 
America. Adversaries, goaded be- 
yond measure, still seek to compose 
differences. Observers, particularly 
those of us who have ceaselessly bit-- 
ten nails in tile past, can only wonder r 
bow long the dazzling act can last 

The dustup with Italy over the 
AchOJe Lauro affair brought US. 
troops close to armed conflict with 
Italian forces at a NATO base. That 
kind of encounter could easily cost 
America the use of bases. 

But Prime Minister Bettino Ctaxi 


is moving heaven and earth to sweep 
the whole affair under the rag. He 
wants nothing more than to get to- 
gether with Mr. Reagan for a dinner 
meeting of allied leaders here today 
— at which he will lead tbe applause 
for the Strategic Defense Initiative. 

France suffered a loss of amour 


The United States Needs Open Debate on Detente 


P RINCETON, New Jersey — The 
greatest failure of American de- 


By Stephen F. Cohen 


propre when summoned, along with 
the other industrial countries, to the 
summit meeting in New York. Presi- 
dent Francois Mitterrand refused. 


mocracy today is the absence of a real 
national debate on U.S. policy to- 
ward the Soviet l>nion. 

No international or domestic issue 
is more important, and nothing in the 
foreseeable future — including the 
Reagan-Gorbachev summit meeting 
— will change that fact. In the nucle- 
ar age. the U.S.-Soviet relationship is 
an ever present question of global 
survival. And as government defense- 
related spending soars beyond S400 
billion a year, it is, increasingly and 
inescapably, a question of how to 
sustain the quality of American life, 
from education and social security to 
urban housing and agriculture. 

Despile these ramifications. Presi- 
dent Reagan’s cold war policy has 
gone essentially unchallenged in the 
political mainstream for almost five 
yean. Critics have lamented the ad- 
ministration’s extreme rhetoric, ob- 
jected to some of its weapons pro- 
grams and doubted its commitment 
to arms control. But not one influen- 
tial group or institution has seriously 
opposed Mr. Reagan’s militarized 
approach to Lhe Soviets, either by 
rejecting his underlying political pre- 
mises or by offering the only alter- 
native: a broad policy of detente. 

As a result in contrast to wide- 
ranging controversies over other is- 
sues, mainstream discussion of U.S.- 
Soviet relations is narrow and 
superficial. It fixates on trivial or sec- 
ondary matters such as pre-summit 
“public relations” and the efficacy of 
yet another weapons systems, while 
avoiding basic questions about the 
long-term goal of American policy. Is 
it to live peacefully with the Soviet 
Union as a coequal superpower, to 
roll back Soviet power in the world, 
to destroy the Soviet system? 

No coherent policy is possible 
without answers to these and other 
questions about what kind of rela- 
tionship America wants. The ques- 
tions are not even being discussed. 

The entire .American political spec- 
trum bears responsibility for this fail- 
ure of the democratic process. Tbe 
right is mindlessly committed to cold 
war. including military buildup, as an 
eternal virtue in itself. The left is 
instinctively against the arms race 
but has no ideas for achieving the 
broader political accords needed to 
end it. And the vaunted “bipartisan 
center’' wishes only to stand safely 
somewhere between them. 

More specifically, there is the 
baneful role of the’ national media, 
the Democratic Party and the legion 
of professional foreign policy intel- 
lectuals. Each has some capacity, as 
well as duty, to broaden and deepen 
public discourse about U.S.-Soviet 
relations. None has done so. 

Ten years ago, for example, news- 
paper editorial pages and network 


leagued newspapers and ma gazines tiling the well-known French objec- 
The New Republic has said of a lead- tion to any extension of the industrial jfk 


television programs regularly fea- intellectuals with access to the media mg American expert on the Soviet summits to political matters. 

k.< — i .1*. .. j .. .f j r-,„ ... T,~ . rr n ,.L T r -nrTiL m ..L UdAlnnu, V<*t Mr Mit mri inrf ic b> 


tured proponents and opponents of and to the Democratic Party. If such Union, “With such Sovietologists, 


detente. Now. overwhelmingly, they 
present only representatives of the 
cold war right and the center — say, 
an administration supporter and a 
self-described “defense Democrat.” 
And the recent television practice of 
casting a Soviet official as the prima- 
ry anti-Reagan spokesman suggests 
that ihere is no legitimate American 
position anywhere between them. 

The media's culpability may be 
mostly passive, but nothing so kind 
can be said about the Democratic 
Party. Even though Mr. Reagan’s 
military expenditures have savaged 
the party's social programs, it offered 
no alternative to his Soviet policy in 
1 984 and seems determined not to do 
so in future elections. One party 


S ic have a useful function, it is to who needs the Soviets?” 

. unconventionally and to speak Given tbe overriding 
more candidly than politicians. A of U.S .-Soviet relations, : 
great many policy intellectuals are ble to sympathize with s 
sincere cold warriors, but many oth- ers in detente who fall sili 
ers certainly believe in the necessity their criticism of Ames 
and possibility of detente, as they Compared to the cost 
said (mealy in' the 1970s. Why do so courage in other societies 
few oi them speak out now? can price is cheap. Pro-c 

The main reason is well known but tors who refuse to lead 


Yet Mr. Mitterrand is sedan 
private session with Mr. Reagan. 


Given the overriding importance offered a meeting in Martinique, or 
of uiL-Soviet relations, it is impqssi- even Washington, at the end erf a 


ble to sympathize with secret believ- I -atm American visit last week, bat 
ers in detente who faD silent or muffle. Washington tuned a deaf ear. Paris 


their criticism of American policy, refuses to be rebuffed. The French 
Compared to the cost of political still hope for a last-minute get-to- 


rarriy publicized Like too many con- 
gressional Democrats who wul not 


courage in other societies, the Ameri- gather ini 
can price is cheap. Pro-d6tente sena- meets Mr. 
tors who refuse to lead should step Preside! 


iher in Europe before Mr. Reagan 
:ets Mr. Gorbachev in Geneva. 
President Hosni Mubarak of Egypt 


gressorial Democrats who will not 
stale publicly what they express pri- 
vately, commentators are intimidated 
by the renewed cold war climate of 
political intolerance, especially on 
Soviet affairs. Debate is again being 
stifled by censorious crusaders par 
rading under euphemistic banners 


down. Government officials who dis- threw a fit about the diversion to 
sent from cold war policy only under Italy of the Egyptian plane carrying 


a pseudonym ought to resign. 


four terrorists arid a few 


Cold warriors wfil exclaim, as they rials from the Palestine- Liberation 


always do, “Everything is worse in 
the Soviet Union!” — as if that 


miration. “Piracy,” he screamed, 
demanded an apology. But the 


should be America's standard. But no piracy charge has vanished, and by 
one can take pride in the fact that way of apology Mr. Mubarak only 


spokesman and adviser after another . like the Committee for the Free 
has rejected an electoral platform World and Accuracy in Media. 


based on detente, which is necessary 
to free funds for social progress. In- 
stead the>- clamor for a more anti- 
Soviet. pro-defense program. 

Nor can anything positive be said, 
in this respect, about foreign policy 


Once a g ain a galaxy of cold war 

publications recklessly brand anyone The writer is professor of politics at, 
who dissents as being pro-Soviet, soft Princeton University and a frequent 


America’s largest political problem is wants Washington to do what it had 
not being debated. Democratic dis- been . doing all along — nurse a 
course requires candor arid courage, “peace process” that might bring to- 


gether Israeli diplomats with a mixed 

The writer is professor of politics at delegation from Jordan and the PLO. 


on Communism, a fellow traveler or 
an appeaser. Such intolerance has 
even crept into some once crvQ- 


commentator on Soviet affairs. He 
contributed this comment to the Inter- 
national Herald Tribune. 


Israel claimed to be badly put off 


by American flirtation with the joint 
PLO-Jordanian delegation, and even . 


Is Gorbachev Capable of the Gesture? 


By Elie Wiesel 


N EW YORK — When Ronald Reagan meets Mik- 
hail Gorbachev in Geneva, I hope he will speak to 


him. among other things, of an innocent man who is 
now in danger of being sentenced to hard labor in the 
Soviet Union. His name is Leonid Volvovsky. 

He is a 45-year-old mathematician, and his trial 
opened last Friday in Gorki His “crime” is active 
involvement with the large “refusenik” community 
there. His friends worry that the prosecution will use 
his case as a warning, handing down a severe sentence. 

Leonid is married to Ludmila; they have a 17-year- 
old daughter, Kira. Their troubles began in 1976 when 
they applied for an exit visa to Israel In the eyes of 
officialdom, Leonid became an ouicasL 

That remains the lot of all refuseniks. Overnight they 
are cut off, isolated, marked for harassment, aban- 
doned by colleagues and humitiated by institutions. 
Still, they lean on each other and help each other to 
safeguard their sanity and morale. 

I have met many refuseniks in the Soviet Union. 
I admire them. They are, to paraphrase Jean-Paul 
Sartre's expression, among the freest people in .the 
land. I admire their courage, their exuberant spirit, 
their unfathomable faith. When I asked them what to 
send them from home, they answered: “Books, send us 
books.” These books were needed for students and 
teachers — for the unofficial educational network that 
now exists throughout the Soviet Union. 

Leonid Volvovsky is one of that network's leading 
members. He learned Hebrew and En glish, and estab- 
lished seminars for Hebrew, Jewish history, Jewish 
literature and philosophy and ethics. In 1976 be was 
vice chairman of a committee that tried to convene a 
seminar on Jewish culture. That resulted in. the first of 


his several arrests, followed by relentless harassment 
Searches were conducted in his home, materials were 
confiscated, threats were made. But he persevered, and 
hundreds of refuseniks owe him their Jewish educa- 
tion. In 1979 his seminar attracted 700 students. 

The KGB reacted. Mr. Volvovsky “lost” his materi- 
als, his Hebrew books: His modest apartment was 
taken. The scholar had to accept other jobs: elevator 
operator, photography salesman, garbage coflector. 

He was arrested on June 26 and charged under 
article 190-1 of the criminal code of theRussun Soviet 
Socialist Republic. La other words, he is accused of 
sland e ring the Soviet Untan. 

Nonsense. Leonid Volvovsky and his refusenik 
friends have nothing to do with politics. All they want 
is to join their families in Israel so that thqr can lead a 
Jewish life in accordance with Jewish law. When they 
meet, they discuss the. Prophets, the Talmudic legends 
and classical Jewish authors, not politics. ’: 

I have known the refuseniks, and I knbw they are 
more concerned with Jewish memory than with Soviet 

injustice. A conviction would- be^nscandaL 

Let, os hope President Reagan will find it important 
to raise tins case, along with hundreds of others, when 
he meets Mr. Gorbachev. The refuseniks, like the 
dissidents, place their hope in us. There are so many — 
Ida Nudd, Vladimir Slepak, Anatoli Shcharansky,' 
Dan Shapiro^ Joseph B egin Vladimir and Anna Lif- 
shits, Yuri Bddshtem. The list could go on and on. Is 
Mr. Gorbachev capable of a gesture? Will he make it? 


The writer, 


this comment to The New York Tones. 


Japanese Are Flying a Foreign Course to Star Wars 


P ARIS — As a leading technologi- 
cal power, Japan has proved vul- 


nerable on the issue of the Strategic 
Defense Initiative. Despite its hesita- 
tions after the U.S. request for Japa- 
nese participation in the SDI, Tokyo 
has little choice but (o go along with 
U.S. global military strategy. 

Under current ’security arrange- 
ments. Japan's defense relies funda- 


By Hiroko Yamane 

from tbe -general prohibition against system; could be seen as a convenient 


PLO-Jordanian delegation, and even 
more angered by a promise of UJSj^ 
arms sales to Jordan. Prime Minister' 
Shimon Peres has used bis visit to the 
United States to denounce the PLO 
as an unacceptable partner for nego- 
tiation. But he. wants to proceed with 
Jordan. By indicating willingness to 
deal Russia into a Middle East role, 
he opens the way to an outflanking of 
. the PLO Jle raises the possibility of a 
general negotiation that would in- 
clude, by way of Russia, the Syrians. 

So the rude shakes of the past 
weds leave the “peace process” far 
.from dead. In fact it is robust enough 
for Mr. Peres to think, at least of 
going to general elections in Israel 
and running against the more hawk- 
like Liknd bloc as-the man for peace. 

• America’s adversaries seem no less 
-obliging than the wounded friends. 
The Russians have been called liars, 
cheats and murderers by President 
Reagan. Still they hang in there, 
plainly hoping for an arms, control# 
accord. They have presented- a pro- 1 
jxjsal for deep cuts in offensive weap- 
ons- They haw broadcast it on. three 
different occasions.. Despite numer- 
ous UR. reservations about the pro- 
posal, Mr. Gorbachev is not taking 
“no* for an answer. 

Nicaragua, more than Russia even, 
has experienced the rough side of 
LLS. policy. A U 5. -supported guer- 
rilla movement is sapping the San- 
dinist government The United States 
has applied economic -sanctions and 
acted as if the survival of the Sandin- 
Ists threatened security from the Pan- 
ama Canal to the Great Lakes. 

President Daniel Ortega launched 
a stinging counterattack against 
“state terrorism” in his speech here 
the other day. But when it came to 
remedies, he wanted Washington to*y 
normalize relations with Managua. 
He talked up the need for dialogue 
and said he would be delighted to get 
together with President Reagan. 

One lesson that emerges from this 


^R^-c^fh^r 16 m Anienca - gemrinety needs the United States. 

^dependence makes America in- 


men tally on the U5. nuclear umbrel- 
la and U.S. military technology. The 
United States pays virtually "all of 
Japan's defense bilL since Japanese 
military spending is limited to rough- 


ly I percent of GNP. In addition to 
this military dependence, more than 


this military dependence, more than 
one-fourth of Japanese exports go to 
the United States markeL 

Japanese are satisfied with this 
security arrangement: they regard it 
as inseparable from their economic 
prosperity. According to a recent 
government poll. 54.1 percent of the 
population supports the present level 
of defense spending: only 142 per- 
cent advocates an increase, while 1 7.7 
percent wants a reduction. Japanese 
see their country as a peace-loving 
commercial nation that finds its 
strength in its technological power. 

So the more the US. Congress and 
administration criticize Japan’s re- 
luctance to change its basic commer- 
cial relationship with America, the 
more the Japanese government is 
obliged to find ways of participating 
in the ILS.-led defense strategy. 


AH this poses serious questions for 
future Japanese national interests. 

The transfer agreement speaks of 
■'mititary-rdated” technologies, but 
there is reason to believe that the 
target is technology that falls in gray 
areas between civilian and miliiaiy 
categories. Such technologies would 
be difficult to obtain through ordi- 
nary contracts with private firms. 

The first case of application of the 
agreement involved technology- de- 
veloped by Toshiba, under the aus- 
pices of the Defense Agency, for im- 
age identification of surface-to-air 
missile guidance systems. 

Advanced Japanese civilian tech- 
nology in laser beams, microwave 
systems, optic fibers, ceramics and 
high-meed computers looks well suit- 
ed to SDI research, although the ex- 
act terms of research cooperation 


sumuon or narmmg economic pros- 
perity and technological progress. 

Thus, Prime Minister Yasuhiro 
Nakasone, who was one of the first 
leaders of the Western bloc to express 
sympathy for the SDL describes it as 
a trump card that Japan could play 
both in international politics and in 
technological advancement 

The private firms that produce 
high-tech materials do not seem en- 
thusiastic. Japan's industrial struc- 
ture, built for colossal mass con- 
sumption. rarely favors dependence 


amic pros- the time is not yet ripe for a qualita- dm lomauTrcMtri ** 

regress. live change in Japanese defense doI- ®* esreg ? ous errois * 

Yasuhiro icy. The recent o^Son poll found th*i 

that m i ... But 11 remains hard to believe that 


violent wave of opposit ion.. 

condor to defense journals. She rule that applies to other teds of 


on government orders. With public 
opinion and administrative rnfes be- • • 

LETTERS TO THE EDITOR 

^ ^pni^i ^ natgriak t^a uiid©- Could Teach Others conquered its pW am ^g th» fo*"- 

fease SSy can lead to trouble. Official American criticism of Ita- 
Kyoto Ceramm, which provided tech- Vs role in the Achille Lauro affair is 


-** *!•*. -—■“•**— capital: Youratfx takeUwilhjDu. 

namul Herald Tnbum. 7 !™ SyrtJT 


LETTERS TO THE EDITOR 

Italy Could Teach Others conquered i ts place among the demo- 


Offidal American criticism of Ita- 

c mip in tka, r . J 0 * to . anyone. And much cam.be 


ugi iciutj m iwmuui tw^uauuu im ui C luuuuaw*. irnwic. uiiqpuaj, u we recall the Iona and r .T 

have not been dearly drawn. Japan had its UJSu subsidiary absorbed by painful negotiation — anwoved bv S dSSJf?* ^ destroy lywith 

could expect further technological American owners due to a U.S. regn- two U.S. presidents fwthefreeimrL Qcmocratic process. ;-’vy • 

progress through SDI ^ participation, lotion on security-related industries, of the American hostagesbeWm • A.MALATESTA- 

But the psyoiolppcal conditions Hitachi had to declare that, in pro- Iran. And. after their release, would it Brussds. 

in which Japan was asked to enter viding products to the Lawrence Uv- have been conceivable for Washing- After the riwdatir™ 


Tokyo was implicitly committed to 
the SDI through a November 1983 


the SDI through a November 1983 
agreement concerning the transfer of 
military-related technologies. The 
agreement provides that Tokyo will 
authorize the transfer to America of 
technologies specified by a Joint Mil- 
itary Technology Commission. 

Not only does the agreement legal- 
ize exclusion of the United Stales 


into U.S. -sponsored technological 
cooperationTfor space-based defense 
are different from those in Western 
Europe, Under its peke constitution, 
Japan was excluded from the compe- 
tition in nuclear armaments and re- 
search. And the direct experience of 
atomic bombs created a “nuclear al- 
lergy" and “pacifist tradition" that 
have prevented a military buildup. As 
a result, unlike the European powers, 
the Japanese industrial structure re- 
tied fllmns rsnldy on tbe production 
and export 'of civilian goods. 

So the SDL supposedly a defensive 


A. ROSSI. 
Copenhagen. 


. After the revelations of confronta- 
tion at Sgondla.tiow must Italians 
feel toward Am erican 

A. TORRENTS DELS-PRATS. 

. .. . 1 GeneYa. 


ermore Research Institute and the ton to arrest the chief neeotiaior^As don at Se*nemTwr m.SrKnc 
University of California at Santa Secretary of State DcanRusk mice fed towairiA™^^ 
Bvbara,hd]d 0 ot know the ultimate said, be M ‘^A^cm.callouauai? 

purpose and place of their utilisation- . . ■ - . . A T QRRENTS DELS-PRATS. 

in Los Alamos. And . Hoya . Glass - . • \ . .jGeneya., 

made a similar declaration concern- . w^ennagen. - 

mg a product that was found to have Rfgprdmg the opinion cotmn "Myth by Government 

been used in the Nova laser-produc- ySf- 0 Moderation Is Exploded" (da. in « «. • • . • - * 

ing apparatus at Los Alamos. W by Charles Krituthtm^T ' TwS *“2 

If Japan reties only on its techno Mr. Krauthammer’s idle and »«. ihn* y°n®y 

logical strength iHe hope ofim- torted riS to^L^ng 3 ^ 

proving us ima£ of afghful ally of handling of the AchSuSroh^S- jafl.*^^SuSnrdS Site 
an increasingly dissatisfied protector, ers deserves a few reminderaltalv ’ courts 

without changing its pditical status,, has made fateful mistakes in the nJ»' ‘ < - process qf.law. 

it wiL increasingly find that political - Tor which h has paid dearly. It has ' " r - --'JAMES FAJRBAIRN: - • 


_%&rding the opinion cotmn "Myth ™ ot Trial by Government 



m r 


Mr. Krauthammer’s idle and . 


Two lUy Changes* (Oa / 9/ you say 
ti»gcwenmieni saiteiK»dalo- 


i did, afuxdue process r of law.. 
• --MAMES FAERBAIRN:.- 
’ - Hong Kang. . 





W, 


• -r^T-v V: 


Saint Iaui^entHasAged: 
New Designs PlavftSafc 


nVTERNATlONAL HERALJD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


Page 5 


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By Hebe Dorsey 

International Herald Tribune 

PARK.—. Yves Saint Laurent 

has aged. So have his customers. 
Tins was the first impression of the 

wi^X he *— <® 

was nothing wrong with 
me clothes, bnt they were just 
dothes, as his partner and friend, 
nerre Bog*, kept saying after the 
show. “They're clothes," he said, 
not gimmicks. Yves refuses to do 
gPghc k s. It’s not his style." 

The truth is that Saint Laurent 
p* been known to revolutionize 
fashion —and more than once. But 


draped jersey tops over flowing 
pants. There wane lots of pants, 
always with high beds. 

He mline s hovered around the 
knees, but there was a new and 
younger, flared skirt that dropped 
to just about midcalf. The floor- 
length skirts, which looked as 
though they were made of curtain 
fabrics, were positively sweet The 
Ing straw hats and short white 


PAMS FASHION 

the man who dared- to put boots, 
black leather and turtleneck sweat- 
ers on a couture runway was young 

and hungry and riding the Metro/ 
Today, Saint Laurent lives in a. 
luxurious and secluded world, and 
one has the feeling that he has lost 
touch with the enormous energy 
seeping out of the streets. His real 
love now is couture, which is su- 
perb. His ready-to-wear means ex- 
actly that — not creation, but clas- 
sic and commercial clothes that will 
fill hundreds of Saint Laurent bou- 
tiques all over the world. 

Retailers, wbo expect Saint Lau- 
rent to pall fashion rabbits out of a 
hat, were disappointed. The show 
was packed as usual with fashion 
professionals and fans — inrin«ffn» 
Marie-Hetene de Rothschild, Ht- 
l&ne Rochas and Paloma Picasso. 
They followed the show as intently 
as ever, but the first real applause 
came at the end, for ihe black and 
gold lam£ evening dresses. 

The collection was full of Saint 
Laurent's favorite themes, updated 
with a brighter palette and a few 
subtle changes. The clothes were 
still spare and sober, but there was 
something softer about geutly 

800 Chinese Herdsmen 
Stranded in a Blizzard 

The Associated Press 

BELTING — Chinese Army 
planes and tractors have been sent 
to rescue 800 herdsmen and 90.000 
head of livestock stranded by a 
blizzard since late last week in the 
mountains of western China's 
Qinghai province, the press report- 
ed Wednesday. 

Thestaie-run Peasant Daily said , 
the storm Thursday and Friday was j 
the worst in the area since 1956, , 
and covered pastures with a foot j 
and a half (about half a meter) of 
snow. .. ■ , 


The aewest-looldng jacket was 
t the cropped bolero, with very full 

• and round lapels, like the petals of 
t a daisy, faced with white. Saint 

Laurent revamped his spencer 

* jacket by belting it and sha p in g it 
more sharply. The quilted fencer 
also popped up several times, with 

, a duo of dhysahtbearam prints in 

■ mellow blues and raspberry. 

; The navy pea jacks appeared as 
another updated Saint Laurent 

■ classic, along with leather suits. 
Under the suits, Sa in t Laurent put 
T-shirts, prim blouses or draped 
jersey tops. 

Red provided a sharp accent, if 
not the whole story. which 

Saint Laurent loves, was used only 
as a counterpoint and often mixed 
with prints. There wens only two 
totally black outfits — including a 
black pantsuit with flowing black 
coat. The model did not wear any 
jewelry, just sunglasses and a black 
turban. 

Colors, once again, were a strong 
point in this collection. Saint Lau- 
rent. is unique when it comes to 
mixing maize and blue, soft rose 
with hot pink, or almond with bot-‘ 
de green. Here and there, he alsn 
introduced a strong dash of yellow. 

People puzzled by the success of 
Jacqueline de Ribes, a socialite who 
recently turned designer, only had 
to lode around the salon of the 
Grand HOtd, where she showed 
her collection. The answer was 
there, in a bevy of some of the 
richest women in the world, all of 
them friends of Ribes. They like 
Ribes and her clothes, even if many 
of her designs lode tike tine-for-tine 
copies of Saint Laurent, especially 
a black and white chiffon gown 
that was shown only three months 
ago. 

But a friend of Ribes’s, who de- 
clined to be identified, said: “Yes, 
but Jacqueline's dothes are more 
feminine." Ribes, forever young, i 
has been on the best-dressed list ] 
since the crib. She has an exquisite 
sense of color and an unerring eye i 
when it comes to softening the j 
edges. Her choice of fabrics was ] 
impeccable and tire last dress, of 1 
pink "organza, brought . down the- j 



Djerejian: A Nonpolitical Diplomat 

Foreign Policy Spokesman Brings New Style to White Home 


. • Laoa 

Design in black and gold by Yves Saint Laurent. 


Ribes also is the only designer to 
make simple and pure crepe gowns 




without a speck of embroidery. 
This appeals to her clients, who 
own tons of jewelry and fed they 
finally can wear them. 

Women such as Baroness Car- 
men Thyssen-Bom emisM, at least 
three Rothschilds, and the wife of 
the former French prime minister. 
Eve Barre, loved every minute of 
the show. So did many American 
retailers, including executives of 
Saks Fifth Avenue. They have been 
taking Ribes’s designs on tr unk 
shows that seem to do very well, 
especially in the moneyed citadel of 
Palm Beach. 

As for Hanae Mori, she is busy 
creating the costumes for La Sea- 
la’s next production of “Madame 
Butterfly," which will be conducted 
by Lorin MaazeL This should suit 
her to a T, since the butterfly is the 
good-luck charm of the Japanese 
designer. 

The first three dresses of her col- 


lection were cut from brightly col- 
ored cottons primed with butter- 
flies, and butterfly pins held the 
draping of a pretty black dress. 

There is never anything aggres- 
sive about Mori, who keeps deliver- 
ing gently elegant, well-made 
clothes that have found a niche is 
Paris. Her slim clothes gently 
grazed the figure, and her ladylike 
hems stopped right at the knee." The 
broad-shouldered, bdied suits had 
a well-groomed look, especially the 
pale beige gabardine. 

Besides a tricolor theme, Mori 
showed a lot of blade, including a 
classic pantsuit made of a unusual 
Japanese wrinkled silk that has 
been used in the more avant-garde 
Japanese collections. 

Footnote: The house of Oh*ne 1 
and Karl L ag erfeld have dispelled 
rumors of a split by announcing 
that their relationship will contin- 
ue. 


By Bernard Wcinraub 

•Vai» iork Times Seme* 

WASHINGTON' — Edward P. 
Djerqian, the firs; career Foreign 
Service officer in years to serve as a 
White House spokesman, has 
emerged as one of the more unusu- 
al figures at 1600 Pennsylvania Av. 

enue. 

He is a con political diplomat 
amid Republican appointees, a 
fairly candid spokesman in a White 
House whose officials often are 
stonily unresponsive. 

Mr. Djerejian, 46, was hired bv 
the White House spokesman, Larry 
Spcakes, over the summer to re- 
place Robert B. Sim*, the former 
chief expert of foreign policy in the 
White House press office who 
moved to the Pentagon as chief 
spokesman. 

Since then Mr. Speak es and Mr. 
Djerejian have more or less as- 
sumed control over the Reagan ad- 
ministration's foreign poliev pro- 
nouncements. It was Mr. Spcakes, 
Tor example, rather than the State 
Department, who issued the White 
House response io the hijacking 
OcL 7 of an Italian cruise liner, the 
Achille Lauro, in which an Ameri- 
can was killed. 

But Mr. Speak es denies that he 
has deliberately sought to super- 
sede the Stale Department and its 
spokesman, Bernard Kalb. 

Noting that the first White 
House briefing of the day. ai 9:15 
A.M., comes before the State De- 
partment briefing at noon, Mr. 
Spcakes said: “If we try to defer 
things io the State Department, it 
just wouldn't wash. .An example is 
the Israeli raid into Tunis. You 
can't duck those questions." 

Mr. Djerejian. who was No. 2 to 
Mr. Kalb at the State Department, 
had previously served as a political 
officer in the Middle East. France.- 
and the Soviet Union. 

So far, the chief complaint about 
him from While House correspon- 
dents is that he still is learning the 
job and thus lacks the authority of 
Mr. Sims. 

Mr. Djerejian arrives at the 
White House by 6:30 A.M. to con- 
fer with officials on the National 
Security Council and the Slate De- 
partment before preparing the 
morning “guidance" for Mr. 
Spcakes. 

Throughout the day. he fields 
scores of telephone inquiries before 
leaving the White House, often af- 
ter the evening news broadcasts. 

On most evenings at home he gets 
still more telephone inquiries. 

Mr. Djerejian concedes that 
there are plenty of professional 
risks in accepting a highly public, 
often politically sensitive job. 

“J think basically some of my 
friends think I'm suicidal,'’ be said. 

“In this job, there’s tremendously 


high potential for public error. You 
have to maintain both substantive 
, credibility and personal integrity 
: with the press corps and with col- 
leagues." 

Mr. Djerqian grew up in the 
New York City borough of Queens, 
the son of Armenian political refu- 
gees who worked in ihe restaurant 
business. A talent for languages — 
be now speaks French, Russian, 
Armenian and Arabic — and a 
yearning to travel led him to enter 
the Foreign Service in 1963, after 
receiving a degree from George- 
town University and serving in the 
U.S. Army in Korea. He lives in 
suburban Maryland with his wife 
and two children. 

At the White House, be said, the 
constant jousting between spokes- 
men and the press surprised him. 

“I don't sense hostility on the 
pan of the press, but excessive cyn- 
icism and. at times, distrust," he 
said. “There has been this rooting 
of distrust that I trace to Vietnam. 
It causes what seems to be hostility, 
but it's really undue cynicism." 

Mr. Djerqian also said he was 
unaccustomed to the White 
House's rapid decision-making 
process, as compared io the more 
formal clearances required at the 
State Department. 

“You have to get used to making 
final decisions without clearing 

French to Vote on March 16 

A genre France- Prcsse 

PARIS — The French general 
elections will be held on Sunday, 
March 16, 1986. it was announced 
Wednesday. The elections are to be 
held under the proportional repre- 
sentation system for the first time. 


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Eric F. Jeter, Vice-President 
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Surrey TW91HY, England. 


from as many people as 1 had been 
used to," he said. 

On the range of foreign policy 
issues, he expressed surprise at “the 
interaction of domestic policy and 
politics and foreign policy." At the 
State Department, be said, that in- 
teraction often is overlooked. 

"Ultimately, derisions are made 
here with both foreign policy and 
domestic considerations in mind." 
Mr. Djerejian said. “At the State 
Department you make the best 
judgments on the foreign policy in- 
terests of the U.S. Here you have to 
be abundantly aware, and put in 
the equation, domestic policy con- 
siderations. That’s new for me." 



Edward P. Djerejian 


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Page 6 


INTERNATIONAL HERALD TRIBUNE, THURSDAY- OCTOBER 24- 1985 


U.S. Indicates It Would Be Less Hurt 
Than South Africa by Chrome Cutoff 


United Press International 

WASHINGTON — US. offi- 
cials appear unimpressed by the 
prospect of Pretoria stopping ex- 
ports of chromium to the West in 
retaliation for the economic sanc- 
tions that have been imposed 
against South Africa, 

President Pieter W. Botha, in a 
speech at a political rally Monday, 
raised the possibility of a cutoff of 
chrome. He said of the Western 
countries that have imposed limit- 
ed economic sanctions. “By digging 
a hole for South Africa, they could 
end up harming themselves.’' Mr. 
Botha said his country could put a 
million Americans out of work by 
stopping chromium exports. 

Although the State Department 
has had no formal comment on Mr. 
Botha's remarks. U.S. officials sug- 
gested that South Africa's vulnera- 
ble economic position could make 
the threat difficult to carry out. 
There was no reported reaction 
from Europe. 

Chromium is one of the metallic 
ores known as the Big Four. The 
others are cobalt, manganese and 
the platinum group of metals, all of 
which South Africa supplies. 

A recent book. “The World of 
Strategic Metals,” quotes a steel 
company executive as saying: 
“Without these you couldn’t build 
a jet eugine or an automobile, run a 
train, build an oil refinery or a 
power plant You couldn't process 
food, under present laws, or run a 
sanitary restaurant or a hospital 
operating room. You couldn'L 
build a computer, clean up the air 
and water.” 


None of the four metals is pro- 
duced in the United States, but 
South Africa is not the sole source 
of any of them. 

Although US. officials acknowl- 
edged that a cutoff would create 
some economic disruption, they 
discounted Mr. Botha's threat for 
several reasons: 

• The United States has strategic 
reserves of all of the imported met- 
als sufficient to cover at least a 
short disruption of supplies. Rea- 
gan administration officials have 
told Congress that some stockpiles 
are excessive and should be re- 
duced to save money. 

• Not only are aliemale sources 
for the metals being discovered, 
such as the African slates of Gabon 
for manganese or Zimbabwe for 
chrome, but substitute processes 
are being developed, such as recy- 
cling old automobiles for the plati- 
num in their exhaust systems. 

• Mr. Botha’s speech, in the view 
of U.S. officials, appeared aimed at 
impressing a local political audi- 
ence. not at sending a danger signal 
around the world. 

• Not only are the Western 
countries less vulnerable than they 
used to be, but South Africa, be- 
cause of the drop in the price of 
gold and the economic problems 
growing from the political disrup- 
tions. has become more vulnerable 
economically. 


■ Other Assessments Differ 
A U.S. congressman knowledge- 
able on the subject said Tuesday 
thaL a chromium embargo would 
have serious economic conse- 


Afrikaner Pastors Will Meet 
With ANC, Defying Botha 


Washington Past Sen tea 


JOHANNESBURG — Another 
feud has broken out between Presi- 
dent Pieter W. Botha and concilia- 
tory members of the politically 
dominant Afrikaner community 
with the announcement that seven 
pastors of the influential Dutch Re- 
formed Church plan to defy the 
government and meet leaders of the 
exiled African National Congress. 


Mr. Botha's government caused 
a stir in Afrikaner intellectual cir- 
cles last week by seizing the pass- 


ports of eight university studems to 
elin 


slop them from traveling to Zam- 
bia to meet members of the con- 
ess’s youth league. On Tuesday, 
r. Botha accused the seven pas- 
tors of challenging the authority of 
the state by planning the talks de- 
spite his disapproval of contacts 
with the outlawed organization. 


“The government has expressed 
its strong viewpoint on discussions 
with the ANC. which is a murder- 
ous organization.” said a presiden- 
tial spokesman in Pretoria. He said 
the group was “controlled by com- 
munists who reject religion." 

The pastors seem determined to 
go ahead with the meeting. Their 
leader. Nico Smith, a white mis- 
sionary in the black branch of the 
racially segregated church, said in a 
television interview Tuesday (hat 
they were not trying to challenge 
the government but felt called 
upon to seek reconciliation be- 
tween South Africa's conflicting 
forces. 


Since mid-September, groups of 
South African businessmen and 
opposition politicians have met 
separately with the congress’s lead- 
ers. 


quences for the United States, but a 
study released earlier this year by 
the Office of Technology Assess- 
ment noted that the United States 
has weathered strategic metal cut- 
offs in the past. The Associated 
Press reported from Washington. 

Representative Don Fuqua, a 
Democrat of Florida and chairman 
of the House Science and Technol- 
ogy Committee, said that Mr. 
Botha’s threat should be taken seri- 
ously. Sudden and prolonged loss 
of supplies could hurt the auto in- 
dustry in particular, be said, and 
perhaps cost jobs. 

Mr. Fuqua, whose committee 
has conducted hearings on the de- 
pendence on South African materi- 
als, said the government should 
take an active role in developing 
alternative sources and substitute 
materials. 

But he said that South Africa 
might be angered enough to forgo 
the income and jobs for the sake of 
retaliation. He said that chromium 
amounts to only about 1 percent of 
that country's gross national prod- 
uct 

The study by the congressional 
Office of Technology Assessment 
said that the United States has 
weathered four cutoffs of such ma- 
terials since World War II without 
dire consequence . 

On two of those occasions 
chrome was the material withheld, 
once in the late 1940s, when the 
Soviet Union halted its supplies, 
and the other from 1966 to 1972. 
when the United Nations imposed 
an embargo on Rhodesian chromi- 
um. 

The study said that industry has 
the ability to develop advanced ma- 
terials to substitute for chrome in 
alloys and other applications, and 
that much chromium can be recov- 
ered with recycling. To a lesser ex- 
tent, it said, the United States can 
develop other countries as sources. 

According to the study. South 
Africa accounted for 34 percent of 
world production of chromium in 
1982. The Soviet Union accounted 
for 33 percent, and other sources 
included Canada, Brazil, Finland, 
Turkey. India, the Philippines. Al- 
bania and Zimbabwe. 

The United States imported 48 
percent of its supplies from South 
Africa and 17 percent from the So- 
viet Union. 

John D. Morgan Jr., chief staff 
officer for the U.S. Bureau of 
Mines, pointed to the use of other 
minerals as substitutes, such as 
tungsten and others found in the 
United States. He said there still 
are other countries with chromium 
reserves that could be developed to 
replace South Africa in the event of 
a cutoff. 



Africa Leaders Bring Warning to UN 


Speakers Implore West to Apply Sanctions on Pretoria 

Portuguese colonial heritage with 


Kenneth Kannria 


By James Brooke 
.Vw York Times Service 
UNITED NATIONS, New 

York — African leaders sounded a 
common theme in their speeches 
this week to the General Assembly: 
The world faces a choice between 
imposing economic sanctions on 
South Africa or watching a destruc- 
tive explosion by the black major- 
ity there. 

“A catastrophic explosion which 
will engulf all of us in the region is 
imminent," President Kenneth D. 
Knonda of Zambia said in a speech 
Tuesday. 

“If you don’t apply sanctions,” 
he said, “hundreds of thousands of 
people will die and the investments 
wiH go up in flames. With sane- 


Shultz Sought to Block 
Bill to Aid Angola Rebels 


By David Hoffman - 

Washington Pott Service 

WASHINGTON — Secretary of 


State George P. Shultz appealed 
»bert H. 


privately this month to Ro 
Michel, the Republican leader in 
the House of Representatives, to 
oppose legislation that would pro- 
vide $27 million in aid to non- 
Communisi guerrillas fighting the 
Marxist government in Angola, but 
Mr. Micbel refused, according to 
correspondence between them. 

Mr. Shultz said in an Oct 12 
letter to Mr. Michel that “in recent 
weeks” both the South African 
government which backs the re- 
bels, and the Angolan government 
had expressed interest in negotia- 
tions. He opposed aiding the guer- 
rillas because, he wrote, a U.S. me- 
diating effort “needs to be pursued 
forcefully.” 

But the appeal in a letter marked 
“eyes only 5, for Mr. Micbel has 
touched off an angry response from 
Mr. Michel and other congressio- 
nal Republicans who are pushing 
the Reagan administration to pro- 
vide the nonlethal aid. Mr. Michel 
retorted in a letter to Mr. Shultz 
that the assistance was “not only a 
geostrategic but a moral necessity.” 

Mr. Shultz’s letter, made avail- 
able Tuesday by sources sympa- 
thetic to the rebels, comes as the 
Reagan a dminis tration is in the 
midst of a major review of whether 
to aid the guerrillas of the National 
Union for the Total Independence 
of Angola, which is known as UN- 
ITA from its Portuguese initials. 

At issue is whether the United 
States should provide either mili- 
tary or humanitarian aid to the 
group, whose guerrilla fighters in 


southern Angola recently have 
been under heavy pressure from the 
Soviet-supplied and Cuban-aided 
forces of the Marxist government. 

Legislation to provide the nonle- 
thal aid has been introduced by 
Representative Claude Pepper, a 
Democrat of Florida, and support- 
ed by Representatives Jack F. 
Kemp, a Republican of New York, 
and James A. Courier, a Republi- 
can of New Jersey, among others. 

Mr. Kemp said Tuesday that he 
was “deeply disappointed.” and 
termed the Shultz letter “inconsis- 
tent with the president's goal of 
supporting the cause of freedom 
around the world.” Mr. Courier 
added, “This is not a time to aban- 
don our friend and call for talks ” 

Mr. Shultz's letter, which sources 
said was not shown to the White 
House in advance, advocates a 
State Department view that is not 
shared try other policymakers in 
the a dminis tration 

In July, Congress repealed a pro- 
hibition on aid to the Angolan re- 
bels. That prohibition was enacted 
in 1975-76 after disclosures that the 
CIA had secretly provided $30 mil- 
lion in assistance to UNITA and 
another rebel faction. 

Mr. Shultz said his opposition to 
the current legislation was based on 
favorable developments in U.S. ef- 
forts to obtain a negotiated with- 
drawal of Cuban troops in Angola 
as pari of a regional settlement se- 
curing independence for South- 
West Africa, or Namibia. 

Mr. Michel retorted that any ad- 
ministration attempt to stop the aid 
to UNITA would be viewed by the 
Soviet Union as “an implicit with- 
drawal of American sympathy for 
.freedom fighters.” 


tions, there is a possibility of recov- 
ery.” 

After expressing his disappoint- 
ment over Britain's refusal to en- 
dorse full sanctions at a Common- 
wealth megfog in the Bahamas. 
Mr. Kaunda said that the greatest 
hope for the success of sanctions 
was with the American people. 

“We are dependent on the Amer- 
ican people pressuring to go ahead 
with sanctions,” he said. “All I can 
say is, please continue.” 

President Jose Eduardo dos San- 
tos of Angola, in addition to join- 
ing the call for economic sanctions, 
told the General Assembly that 
constant Sooth African a tucks on 
his country justified the presence of 
Cuban troops in Angola. 

“Today, there are still Cuban 
military forces in Angola,” he said, 
“for the simple reason that the in- 
tervention of foreign armed forces 
in our country had not stopped.” 

[Mr. Dos Santos will visit Cuba 
soon at the invitation of President 
Fidel Castro. The Associated Press 
in Mexico City quoted the Cuban 
news agency Prensa Latina as re- 
porting Wednesday.} 

The president of Guinea-Bissau, 
JoSo Bernardo Vieira, denounced 
South African support for anti- 
government rebels in Angola. 
Guinea-Bissau shares a common 


president of Equatorial 
Guinea. Lieutenant Colonel Teo- 
doro Obiang Ngucma. used pari of 
his speech to make a plea for re- 
spect for younger and weaker na- 
tions. Equatorial Guinea, on the 
west coast of Africa, won its inde- 
pendence from Spain in 1968 and a 
population of 268 , 000 . 

“It is lamentable.” he said, “to 
note the negative practices of some 
countries in relations with weaker 
slates to create in them internal 
problems which create crises or 
weaken their independence. 

Among the detrimental practices 
by the huge toward the small, he 
said, were “the importation of ideo- 
logies which don’t correspond to 
the life style of the population, pro- 
tectionists policies over manufac- 
tured goods and the lack of transfer 
of technology which impose indefi- 
nite dependency' on the younger 
countries.” 

The president of the Comoros 
Islands, Ahmed Abdallah Abdere- 
mane, devoted a large part of his 
speech to an African decoloniza- 
tion issue overlooked by most erf his 
colleagues. The largely Islamic 
population of the Comoros — three 
volcanic islands in the Mozam- 
bique C hann el, between Mozam- 


riwau Pin 

Jose Eduardo dos Santos 


bique and Madagascar — won its 
independence from France in 1975 . 

In a referendum in 1976, howev- 
er, the largely Christian population 
of a fourth island in the arefaipda- 
Mayotte, voted to remain with 
ranee. Mayotte, the Comoros 

president said, "remains today flu*. 




the old colonial power.’ 

“La France.” he said, “ha; 
played the role of a largjfr. knife 
coldly cutting a piece of meaL thus 
making of our country a three-' 
legged ox.” 


Commonwealth doonesbury 
Urges Battle on 
Drugs, Terrorism 


Afw York Tuna Service 

NASSAU, Bahamas — The 
Commonwealth heads of govern- 
ment have ended a weeklong meet- 
ing here with a call for internation- 
al cooperation in fighting drug 
trafficking and terrorism- 
in a statement, the leaders of 46 
countries said they were “deeply 
concerned” by “the extent to which 
the profits made by drug traffickers 
were used in c riminal and subver- 
sive activities" and by “the increas- 
ing toll on innocent lives" of inter- 
national terrorism. 

Prime Minister Lynden O. Pin- 
dling of the Bahamas, the host for 
the meeting, was questioned about 
charges that he has received large 
amounts of money from unidenti- 
fied sources In connection with 
drug trafficking. 

He said that he had already “an- 
swered adequately” to the charges. 

The leaders also repeated their 
condemnation of South Africa's ra- 
cial policies. They said they wel- 
comed the coming aims talks be- 
tween the United States and the 
Soviet Union and urged a ban on 
nuclear testing and all aspects of 
chemical weapons. 


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The American owned a 
business in Belgium. A highly | 
successful venture. But the ■ : 
overall shape of his company; 
changed, so he decided it had 
to be sold. 

He came to Generale Bahj^ 
The biggest bank in Belgium .-Jig: 
and specialists in international ^ , 
M&A. 

They examined both 
the business and the industry, 
then started looking for buyers. 

^ fT - Several prospects were screened, 
one outshone all the- others. 

The Italian. . . ^ 

Generale Bank structured 
the deal, negotiated the price, : 
and coordinated the •; v ; 

consultations with the lawyers 
and accountants. 





It went through. 

id as the Trali an ■nodriori • -'1^ 


And as the Italian needed; 
funding they arranged a financial 
package by leveraging the dealFf 

did it for them and 
we can do it for you. 



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Monogne du Parc 3, B 1000, Bnrssels. Belgium. ; 













»-V* » ^ M t . ^ * .H i ;i A »; , j, 


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From the archives of Magnum Photos, a photographic record of Europe in 
the immediate postwar years — striking images of a continent shaking off 
the debris of destruction and coming to life. 

Mary Blume. the International Herald Tribune’s distinguished feature 
journalist, sets the postwar scene and interviews many of the photographers 
in her introduction. The I.H.T. is pleased to present this unique volume that 
captures a decisive epoch and commemorates the work of some of the 
20th century's master photojoumalists. 

Here you’ll find some of the most famous images and faces of our BBHPP Hpir ~HaFdcover I 
time. Once you open its pages, you will want to spend hours poring over this 200 pages, 

magnificently produced collection. Truly this is a book to treasure for 168 duoione illustrations, 

yourself, and a beautiful gift as well. 32x26cm ( 1 2.5x 1 0.25m.) 

Available from the International Herald Tribune. Order today. 

nHIBBMHBUHfflira licralo^^ (tribune 

AFTER THE WAR WAS OVER 

International Herald Tribune. Book Division. Please send roe copies of After The War Was Over 

18 1 Ave. Charles-de-GaulIe. 92521 NeuilJy Cedex, France, at U.S. 539 JO each, plus postage: $4.00 each in Europe; 

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age 8 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


SCIENCE 


Computers of the Future May Run on fJght, Not Electricity 


IN BRIEF 


By . William j. Broad 

York Tunes Service 

O INCH its start nearly half a cen- 
.. tuiy Ago, the computer revolu- 
tion has advanced by virtue of a 
su&ple physical phenomenon: that 
str «uns of speeding electrons can 
stan or stop the flow of other 
steams of electrons. In short, elec- 
trons can act as a switch. 

This principle was first used in 
computers made of vacuum tubes, 
then transistors, then the powerful 
assemblages of thousands of tran- 
sistors known as silicon chips, it is 
why computers run on electricity, 
which is simply billions of electrons 
m motion. All computers rely on 
digital switching by streams of elec- 
trons. 

■ Today, however, a few scientists 
believe they are on the verge of a 
radical change in the fundamentals 
of the field. They envision comput- 
ers that run on light instead of 
electricity. 

Skeptics believe it impossible, 
but the goal of these scientists is to 
abandon electrons for the tiny 
packets of light known as photons. 

The attraction is that photonic 
computers could work thousands 
of times faster than the best possi- 
ble electric ones, and could process 
data in remarkable new ways. 

“The key to the future is to go 
from electrons to photons,” said 
Dr. Rustam Roy. professor of sol- 
id-state science at Pennsylvania. 
State University and past director 
of the university's Materials Re- 
search Laboratory. 

“It’s like trying to conquer 
Mount Everest,'’ said Dr. Alan 
Huang, director of the newly 
formed Optical Computing De- 
partment at AT&T BeU Laborato- 
ries. “We're doing something with 
a lot of risk. We’re taking the first 
step on a journey of 1,000 miles." 

Vet, despite this challenge. Dr. 
Huang believes his Bell labs team 
can create, within just a year, a 
primitive prototype of an optical 
computer and. within five years, a 
working full-scale model — “a real 
number-cruncher," as be put it. He 
quickly added that BeU labs has a 
reputation for innovation, having 
invented the transistor, the maser, 
the laser and many devices that 
have advanced the art of manipu- 
lating light to man’s advantage. 

The key is to create an optical 
analog of the transistor, which is 
still the muscle behind computa- 
tion. It would switch light on and 
off in a way similar to that in which 
a transistor switches electricity. 
Great strides are already bong re- 
ported in the creation of Dashing 
switches, sometimes known as 
transphasora, that would lie at the 
heart of optical computers. 

According to scientists, the ad- 
vantages of computing with light 


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Diagrams show how electric switches work (left), compared to bow optical switches would operate. 


are many, the first being speed. 
Under ideal conditions, electrons 
can move dose to the velocity of 
light But in the real world or sili- 
con chips, electrons are slowed to 
less than 1 percent of light's veloci- 
ty. Even in the miniature world of 
microelectronics, this means the 
majority of a computer's time is 
spent not crunching numbers but 
waiting for electrons to move from 
one place to another. To date, most 
increases in computer speed and 
power have come from shrinking 
the distance between electronic 
parts at a machine’s heart, which 
cuts the idling time. But this ap- 
proach is dose to its limits. 

In contrast to the laggard pace of 
many electrons, photons, by defini- 
tion. always Lravel at the speed of 
light, which is about 186,000 miles 
(300,000 kilometers) per second. 
The switching action produced by 

J ihotons can be up to 1,000 times 
aster than electrons. 

The second great optical advan- 
tage comes from the fact that pho- 
tons have no charge or mass; they 
axe often thought of as ghostly 


waves rather than particles. Unlike 
dectrons, photons have little effect 
on other nearby photons and can 
even pass right through each other. 

This phenomenon excites com- 
puter scientists because multiple 
beams of light in an optical switch 
could r emain separate, whereas 
several currents in a single transis- 
tor inevitably become mi»eri_ 

To scientists, this optic ability 
evokes visions erf being able to ex- 
ploit belter than ever before an 
innovative computer architecture 
known as parallel processing. In- 
stead of solving problems step by 
step — as most computers through- 
out the world do today — parallel 
machines break apart computa- 
tional puzzles and solve their thou- 
sands or millions of separate parts 
all at once. The upshot is greater 
speed. True parallel processors are 
extremely difficult to build. Com- 
puter scientists hope that optical 
switches criss-crossed by beams of 
light could be the basis for ad- 
vanced types of parallel processing. 

Another general advantage is 
that optical switches might be able 


to operate in more than the “off" 
and “on" states of transistors, 
whkh are sometimes known as “0” 
and “1." Additional functions 
could be created, for example; by 
having increasing but discrete lev- 
els of laser brightness in an optical 
switch. These bursty of ligtu could 
be the basis for creating a richer 
logical system, representing, for in- 
stance, “0," "I," “2," “3," and so 
forth. This could allow scientists to 
go far beyond the binary logic that 
has long dominated computer de- 
sign. 

“Totally new types of compula- 
tions will probably come out of 
optics," said Dr. Henry J. Caul- 
field, director of the Center for Ap- 
plied Optics at the University of 
Alabama. 


.IRONICALLY, the quest to cre- 
ate optical switches is hanroered by 
the very quality that makes pho- 
tons so attractive — their ability 
not to interfere with each other, fit 
is the “interference" between two J 
streams of electrons, after all, that : 


creates the switching action in tran- 
sistors. 

Pioneers in overcoming this non- 
interference hurdle are researchers 
at Heriot-Watt University in Edin- 
burgh. Thar solution, known as the 
transphasor, fires a laser beam, a 
highly focused light, at a special 
type of crystal that is made of indi- 
um antimooide. Most of the beam 
bounces off it. but some also passes 
inside, where it bounces bade and 
forth, with very little escaping. 

However, when a second, weaker 
laser is also directed at the crystal, 
increasing only slightly the intensi- 
ty of the light, a major threshold is 
reached inside the crystal and the 
reverberating waves of light start to 
reinforce one another, causing laser 
light to suddenly flash out the other 
side of the crystal. In effect, a weak 
beam of photons exerts control 
over a strong one. The leverage is 
si milar to that in a transistor, where 
a weak flow of electrons can con- 
trol a strong one. 

• At the moment, such optical 
'switches require a great deal of 
power and are much bigger than 


silicon electronic devices. More- 
over, each optical switch is sepa- 
rate, as transistors were in the 
1930s. The universal goal among 
scientists in tbe field is to shrink 
optical switches and pack them 
tightly together. Their role model is 
Uttte the dec Ironies industry, whose 

right products became much more pow- 

escapes erf til and much less expensive only 

after thousands of transistors could 
be squeezed onto a single chip, the 
. integrated circuit. 

Dr. Huang’s team at BeU Labs is 
focusing on the creation erf tiny 
optical switches, mainly out of gal- 
lium arsenide, a material often used 
in solar cells and semiconducting 
Reverberating lasers. The principle is said to be 
waves more exotic than tbe Heriot-Watt 

transphasor, and is wrapped in the 
secrecy that often surrounds pro- 
prietary research at giant corpora- 
yraves dons. Though hurdles remain. Dr. 

, Huang says the team is exdted with 

its progress. “We set deadlines and 
find ourselves exceeding them," he 
said. 

T L|\ One allure for the lab’s parent 

I J/ 1 J company, AT&T, is that optical 

I f I computing may prove to be a pow- 

erful adjunct to its growing net- 
work of thin fibers of glass that 
carry light-wave communications. 
Thee can carry thousands of times 
more information than metal wires 
on telephone poles, and are already 
team bong used extensively to carry 

masses long-distance telephone calls. But 

through light-wave signals, to be amplified 

and switched, today rely on elec- 
isowOcAmMoa tronic technology, a process of 
translation from photons to elec- 
trons that is expensive and tirne- 
. consuming. In the future AT&T 

5 action - wan ^ s Himinate the t ranslati on. 

wring this non- The company also sees optical 
are researchers computers as a general wave of the 
rersity in Edin- future. “It’s inevitable," said Dr. 
n, known as the Huang 

laser beam, a Outside a few industry and mti . 
it, at a special versity settings, the main spur to 
is made of indi- develop optical computers comes 
ist of tbe beam from tbe Defense Department, 
ime also passes which wants them for specialized 
races back and applications in the Reagan admin- 
e escaping. istration's space-based military 
second, weaker plan- Dr. Caulfield was recently 
1 at the crystal, named technical director of the 
itly the intensi- Optical Computing Consortium of 
jor threshold is Strategic Defense Initiative, a 
crystal «nH the group made up of about a dozen 
of light start to concerns and universities. 
ir, causing laser “Short-term payoffs will be pro- 

shout the other cessors to do specific jobs, things 
a effect, a weak (ike optical image processing 
exerts control units," he said. “By the mid-1990s 
The leverage is well have flexible programmable 
ansistor, where computers. You may never know 
trons can con- there are optics in there. You'll see 
no flashing lights. Jt wSl be very 
, such optica] dull looking. But it will run circles 
great deal of around everything else. Electronics • 
:h bigger than just can’t keep up with us.” 


through 


Smokers 9 Infants Cost More in Care * 

BOSTON (AP) —Smoking mothers gave birth to 31,000 h 

children in 1983 in the United States, and the cost of “ring f« £ 
dangerously small infants in their early days is S 15— million a , . je 

study concludes. ... . f* 

Undersized babies frequently must be placed in intensive care units, / 
where the cost of saving one infant can run to tens of thousands ft 
doQars. Tbe study concluded that maternal smoking is responsrwe tor ito 
percent of the total annual cost of newborn intensive care in tte L rntw kfi 
States, according to John Piimey. executive director of Harvaras Insti- 
tute for the Study of Smoking Behavior and Policy. 

A report on tire research, conducted by Cory Osier, a nredicai 
economist at Policy Analysis Ino, a research company, and presented at a j 

conference in San Francisco on smoking and reproductive hearth, con- v 
eluded that the newborn care of the babies of smoking mothers, averages 
5170 more than that of infants whose mothers did not smoke. 

Potent Appetite Stimulant Identified 

DALLAS (AP) — A chemical previously identified in tbe human brain 

has been found to he the- most potent appetite stimulant' known, and 
researchers say it could play a critical role in binge e a ti n g, anorexia and 
other ea ri n g disorders. 

When the chemical, neuropeptide Y, was injected into the brains of 
rats, they began overeating within and by tbe third day were 

eating more than twice what they would normally consume, Sarah 
Lribcwitz, a neurobkdpgisl at Tbe Rocke f eller University in New York 
said at a meeting of the Society for Neuroscience. The rats’ daily weight 

gain was more than four times their normal gran dnring 10 days of testing. 

Neuropeptidc Y causes a craving for carbohydrates, the food groups 
that includes many snack items and sweets favored by binge eaters. Dr. 
Lcrbowitzsaid. She believes that it works in concert with norepineph ri ne, 
one of the so-called neoro transmitters that brain crils use to communi- 
cate. Both substances have beat found to coexist in the human brain, and 
norepinephrine is also known to stimulate carbohydrate cravings. 

Device Could Prevent Crib Deaths 

SAN ANTONIO, Texas (AP) — A mattress-imbedded monitor that 
could alert parents of babies at risk of sudden infant death syndrome 
when the child's breathing or heart stops was displayed at the American 
Academy of Pediatrics Convention. 

The computerized monitor, called Lifewatch, requires no wires ortape- 
attached electrodes to the infant's body, according to Anne Calluon. of 
the Emergent Technology Coro, of Boca Raton. Florida, which devel- 
oped the device. If approved by the Food and Drug Administration, 
Lifewatch would be available on a prescription basis for rentals of about 
5230 a month is the United States, she said 

Sudden infant death syndrome is a condition in babies in which - 
breathing stops for about 20 seconds. The mattress monitor sends signals 
to a remote microprocessor that keeps track of the infant’s condition. If. 
the baby's heart of breathing stops, the computerized unit sets off an 
alarm. It also gives voice directions an what emergency steps to take, Miss 
Caffison said. An advantage of the unit is that it alknvs monitoring 
without disrupting parent-infant bonding, she said. 

Novel Explanation of Moon’s Origin 

WASHINGTON (NYT) — An Indiana University astronomer has 
proposed a new explanation erf how the Moon was framed, the National 
Science Foundation announced on Monday. 

Dr. Richard H. Durisen used a supercomputer to simulate the behavior 
of a rotating fluid object that might have been Hke the Earth in an early U 
stage of its formation. ' ■■■■ T' 

U the Earth was a molten, rapidly spinning, body, he concluded, then, 
the simulations suggest that the . rotating fimd would be unstable and 
would develop a thick ring of material around it. The Moan could then 
have framed from part of tbe ring of material that spun away from the , 
Earth, while the rest of the ring was scattered and lost, he suggested. 
However, if the Earth fanned as a sohd body, no insuibiBty wow have 
occurred and no riqg cf material would have spun off, he admowiedged. 

Dr. Durisen’s explanation is a refinement of the long-held “fission 
theory* that the Moon separated &bm‘ the Earth id ad fearty Stage of 
development 



fcddanc 

Vjlsfsc 


J 

■W 



Dow Jones Averages 


open Hkrti law Ust c&g. 

Indus 136447 137143 13574X1 1367.16 + 240 

Trans 661-28 6601 6KU9 A6031 — Ml 

UHI 1564* 15824 15533 15738 -4- 1j64 

Comp 55128 557.12 54*4* 55433 + 170 


NYSE Diaries 


NYSE Index 


Composite 

industrials 

Tmnm 

Utilities 

Finance 


MW i Lew am Otoe 
109.17 108.74 109.17 4-032 
12545 124.99 12545 4-036 
10506 10430 10536 — 004 
5646 «Tl 5646 +033 
1 1506 11435 11506 + 0.70 


Dow Jones Bond Averages 


Bancs 

Utmttos 

Industrials 


Advanced 
Declined 
Uncttanaed 
Total issues 
New Highs 
New Lows 
Volume up 

Volume down 


874 934 

643 602 

499 464 

2014 XOS 

51 49 

22 31 

69358320 
35.937.VSO 


Odd-Lot Trading in N.Y. 


Bu* Sales ■SHU 

Oct. 22 154462 * 32,194 1130 * 

Oct. 21 145,903 418.107 14477 

Oct. 18 171370 05460 26355 

Od. 17 172325 448369 6340 

CW. 16 152.992 3*4322 6371 

■included In the sales figures 


Wfednesd ayfe 

MSE 

dosing 


VtLoMPJM 121450000 

Pmr.tPJU.raL J1U9MC0 

Pm comoHdoteil dose 1334*3380 


Tables include the nationwide prices 
up to tbe dosing on Wall Street and 
do not reflect late trades elsewhere. 

Via The Associated Press 


ISBe^HeheSHI 


NASDAQ Index 



dose 

Pm. 

Advanced 

271 

303 

dad Med 

245 

246 

Unchanoad 

263 

233 

Total Hn*s 

786 

7H2 

Now Highs 

16 

12 

New Lows 

14 

14 

Volume %> 

1438750 


Volume down 

2571360 



Comnostta 

industrials 

Finance 

insurance 

UtUttles 

Bonks 

Tramp. 


a ive 4it 
+ 1.12 28630 
+ 131 2B9.10 
+ 133 37631 
+ 223 3JKM 

+070 asst 

+ 0J8 3UL73 
+ 120 261.14 


Standard & Poor's Index 


AMEX Sales 




4PALvatunN 
Prev.4 PJA. volume 
Prav, sans, vatume 


AMEX Stock index 



Lew ' 

22737 TUSS 22737 +039 


12 Month 
HlgtiUw Slack 


Dtv.YU.PE 10U HWl Law QuoLOtor 













Shares Close Higher on NYSE 



United Press International 

NEW YORK — Share prices finished higher 
Wednesday on the New York Slock Exchange 
in active trading. 

Tbe Dow Jones industrial average, which rose 
0.22 Tuesday, setting a closing record, finished 
up 2.80 at 1,367.16. 

Advances led declines by a 4-to-3 ratio 
among the 1,989 issues traded and volume 
amounted to 121.7 million shares compared 
with 111.3 million Tuesday. 

Analysts said buying in the technology sector 
after Digital Equipment issued a stronger than 
expected earnings report Tuesday aided the 
market. 

But Charles Coiner of Oppenheimer & Co. 
said that it was “grasping at straws" to conclude 
from the firmness in the high-tech issues that 
the market would go higher. 

“The buying in tbe technology sector has 
given the market a little bit better tone but it is 
not important enough to support a sustainable 
advance," Mr. Comer said. 

“Takeovers are still the only game in town,** 
Mr. Comer said, adding that the buoyancy 
those deals have lent the market could evapo- 
rate if one of them fails though. “Tbe uncer- 
tainty built into the takeover game can keep the 
market off balance," he said. 

Harry Viflec of Sutro & Co. in Palo Alto, 
California, said tbe market would “back and 
fill" for the rest or the week. He said the market 
would move to new highs again, propelled there 
partly with cash that has built up as a result of 
takeovers and leveraged buyouts. 

Before the market opened, the Commerce 
Department reported UJS. consumer prices rose 


02 percent in September, a figure in line with 
economists' expectations. 

Wall Street was disappointed by the govern- 
ment’s report that U.5. durable goods orders in 
September fell 1.1 percent. Economists noted 
the figure was depressed by a sharp decline in 
defense orders, a component of the durable 
goods data that tends to be quite volatile. 

The Labor Department reported that gross 
weekly earnings for U.S. workers rose a season- 
ally adjusted 0.7 percent in September. 

Fireman's Fund Crap- the largest initial pub- 
lic offeringjn American history, was the most 
active NYSE-listed issue and higher. 

Beatrice Cos. was up in active trading. 

IBM was gaining. Burroughs and Digital 
Equipment, after climbing 4)4 Tuesday on a 
stronger- than-expected earnings report, were 


3938 28 W. Averv 
3416 10 Avlall n 
38% 77 Avnrf 
77 17*8 Avon 

28% 16*8 AvdM 


30 17 14 612 3M 34*8 3$ 

S 32 24V, 24% 34% 

383 J2VC. 3IVS 12V, + *8 
100 73 13 5183 2Mi 25% 26% + fb 
16 *7 18% 18% 18*8— VH 



Chrysler was ahead. The company reached a 
tentative three-year labor agreement with the 
United Auto Workers that could end an eight- 
day strike by Chrysler workers in the United 
States. 

Northwest Airlines was lower. It reported 
third -quarter earnings fell to SI .55 a share from 
$1.97 a share in tbe year-earlier quarter. 

Eastern Airlines and Western Airlines were 
also losing ground. 

RJH. Macy was moderately lower after jump- 
ing more than 16 points Monday on news that 
the company's senior management intend to 
make a leveraged buyout proposal of 570 for all 
Macy’s shares. 

Other retailers were mixed. Federated De- 
partment Stores was down and Woolwonh’s 
was up. 


B*V( 69 
44% 26*8 
50 34% 

23% 23% 
29% 19% 
28% 1888 
16 4 

78% 50% 
37% 37% 
22% 11% 
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36 32% 

45% 30 
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30 00 


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r, ; .y. 


AMEX (rittj p,u 
AMEX htalw/towsP.ia 
NYSE prices p ■ 
NYSE hlSta/iMt P.12. 
CsnoekM Dock* p.u 
Cnrunwrat^ p. , 
CommorWi*# pi, 
Dtvkfcndt p', 3 


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PTC stock P .15 

°™r mork*t* ' p.u 


HcralbX^Sribunc. 




BUSINESS / FINANCE 


U.S. Stocks 
Report, Page 8. 



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WAUL STREET WATCH . 

Fidelity’s Magellan Leads 
Flotilla of Mutual Funds 

% ED WARD ROHBBAGB 

International fferald Tribune 

B OSTON — • Peter S. Lynch, the helmsman of Fidelity 
Invreameats* $J-billian Magellan fond, leader on virtu- 
aUy aD the long-term performance charts that r ank Wall 
Street's flotilla of of tcaroddcri«s rnntnal f rnids, hag jud 
returned from visiting 25 European companies over throe weeks. 

first buaness trip to Europe in more than 10 years, 
with ports of call m Sweden. Norway, Switzerland, Italy and 
west tjennaay. But he wiH be vo yag in g back in November after 
only a month in Fidelity’s home harbor here, this lime cheeking 
out current and potential stock investments in die United King- 
dom and France. 


European banks 
have helped to 

keep Magellan 
buoyant. 


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Why such a focus on the old 
world? 

Mr. Lynch pointed out that 
the top perfo rming U.S. mutu- 
al fund over the year’s first 
nine mouths was his firm’s 
very own Fidelity Overseas 
Fund. 

And as the name hn p 1 ip< 

Magellan was chartered in 1963 to dabble in foreign investments. 
Overseas investments have risen gradually over the last five years, 
be noted, and today account for 14 percent of the fund. 

“Markets just aren’t efficient when you compare them world- 
wide.” he said. “That’s how I got into Volvo — a bell wait off in 
my head when I was analyzing CM an ^ Ford that included 
research into some of their foreign competitors.” 

M R. LYNCH added that Unilever appeared more attrac- 
tive to him than Procter & Gamble and Royal Dutch 
caught his- eye when he was looking at Mobfl. 

*T d just bought some Anheuser-Busch, then discovered Heine- 
ken employed much more conservative ftrrvMmrfng I didn’t y*P 
my Bud [theU.S. Budweiser beer], but began buying Hemeken,” 
he said. Semiconductors are another example he cited. “I lost my 
shin and part of my pants investing last year in U S companies. 
But Philips NV, actually a big player in thw field, was ™»tina a 
nice gain then for the fund.” 

European banks have also helped keep Magellan buoyant. Mr. 
Lynch noted that while investment in Manufacturers Hanover 
was sinking 20 percent, shares in Deuisch n»nif doubled. 

He said the first step in evaluating a European company is 
checking out its financial positron. This is comparatively easy he 
said. But also important, though harder, is adj usting earnings to 
make comparisons with U.S. companies in the field. 

“If you can find a European company with a balance sheet 
better than its American competitors and [whichj is also s preading 
more on R and D, it’s probably a very good buy,” be nertarad 
“Mine is a top-down approach- 1 do it by industry. I don’t look at 
currencies, inflation rates or politics." 

Mr. Lynch thinks American investors are probably a “reve rse 
indicator” who typically get interested in foreign stocks after the 
big gains have been made. 

By the time two or three research reports have been written by 
major U.S. brokerage firms recommending a foreign company, or 
the up-to-the-minute price becomes available an your Quotxon 
machine, he said, “the issue probably only has three to six months 
life left in iL” •• 

Asked how he as an American living in Boston could hope to 
discover better investments overseas than non-Americans al- 
ready in place, he replied,“I don't know if Tm doing better than 
money managers over there. I'm paid to beat" the. averages here. , 
The truth is, stock market indexes have been, “skw boats to 
China” compared with Mr. Lynch’s flank-speed performance at : 
Magellan since he took over seven years ago. The -fund is up 
almost a dozenfold. 

Perhaps even more impressive, and as the advisory letter 
Mutual Fund Forecaster points out, “Magellan is one of the very 
few funds in history that has -managed to produce jnst as 
spectacular a performance after its assets exceeded $1 billion as it 
had before they reached the SlOO-mfllion leveL” 

Mr. Lynch has constantly expanded the number of stocks in 

(Contimed on Page 13, CoL 4) 



Get 23 




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Currency W USI 
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Malar.rtn. 24S75 


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Taftwal 

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Donate or Parts (Paris); Bank a i Tokyo (Tokyo); IMP (Soft); BAJI UBnar. rfyoL dtrttam). 
Other data from Reuters and AP. 



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Oa. 23 


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French 

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(SDR). Rales apoNc ab to to Interbank deposits of *1 million atMmm lareaulrolenl). 


BayMoneyl 


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Federal Foods 
Prhae Rote 
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West Germany 

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On. 23 

Merrill Lynch fUadr Asset* 

30 day oversea ririd:. . 7.46 

Tolerol* Interest Rota index; 7*51 

Source: MmrrllT Lynch. Teterare. 

7J4 

7*2 


7*5 

7*5 

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255 

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Oct. 23 

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toxembow^r Paris am) London official fix- 

ings: Hong Km and Zurich open top and 
dostae prim; Hen. York Cemex current 
contract Ait prices tn UJ. St 

Source: Reuters 


Exxon 



Falls 22% 

Phillips Reports 
83 % Fall in Net 


The Assactaud Press 

NEW YORK — Exxon Corp.. 
the biggest U.S- oil concern, said 
Wednesday that its earnings fell 22 
percent in the third quarter. 

The decline reflected falling 
world pit prices, a dedine in ibe 
dollar and the expense of dosing 
two plants in West Germany, Ex- 
xon said. 

Separately. Phillips Petroleum 
Co, which earlier waged a costly 
battle to survive two takeover at- 
tempts, said its profit plunged S3 
percent from a year earlier, even 
though revenue dim bed 7 percent. 

Phillips said the quarter included 
nonrecurring costs of SS7 million, 
or 39 cents a share, primarily from 
early re ti rement programs and as- 
- set writedowns. 

Exxon said its profit declined to 
$995 million from SI 275 billion in 
the third quarter of 1984. A stock 
buyback program, which reduced 
the number of outstanding shares, 
reduced the impact of the drop in 
profit on per-share earnings, which 
declined 15.8 percent, to 51.33 
from $1.58. 

Revenue fell 5.2 percent, to 
$22.30 billion from $23.52 billion 
in the year-earlier period. 

Clifton C Garvin Jr., the chair- 
man of Exxon, said earnings were 
hurt by $190 million in foreign- 
exchange losses and an after-tax 
charge of $135 miDjan for dosing a 
refinery in Hamburg and a chemi- 
cal plant in Cologne. 

“The continuation of mwnW 
conditions in world markets for 
erode oil and petrochemicals also 
contributed to lower third-quarter 
earnings, although some strength- 
ening was evidenced as the quarter 
ended," Mr. Garvin said. 

With prices of crude oil falling 
but prices of gasoline and other 
refitted petroleum products re- 
maining stable, Exxon’s operating 
profits from the refining and sale of 
petroleum products rose 10.5 per- 
cent in the third quarter. 

Far the first nine months of (he 
year. Exxon said earnings fell Z5_2 
percent, to $3.06 billion, or S4.G3 a 
share, from W. 10 billion, or $4.96, 
a year earlier. Revenue slipped 5.8 
percent, to $6833 billion from 
$72.73 billion. ' 

Phillips said third-quarter net 
fdi to $36 million, or 12 cents a 
share, from $217 million, or 47 
cents, a year earlier. Revenue in- 
creased to S4 billion from $3.74 
billion. 

Nine-month net totaled $252 
million, or 81 cents a share, down 
61 percent from $641 million, or 
S 1.39, a year earlier. Revenue rose 2 
percent, to $12 trillion from $1 1.75 
billion. 


CtosAm in London and Zurick. fixings In other European centers. How York rates at 4 PM. 
la) Cam mandat franc lb) Amounts noodod to buy one pound (c) Amount* noo riml to buy one 
dollar C) l/nfts of too Ik) Units ot lMt (yf Units of (OOW «Ar not ovofed; mu not available. 
{*) To buy oar noun*: SU&lAXn 


SouthAfrica 
Gives Creditors 
Growth Forecast 

Rouen 

LONDON — South Africa 
-told its 30 leading creditor 
banks on Wednesday that it ex- 
pects to have a current account 
surplus for at least the next two 
to three years, a spokesman for 
the mediator at the talks said. 

The meeting that ended 
Wednesday was the first held 
between South Africa and its 
creditor banks since the country 
last month imposed a moratori- 
um on repayment of most of its 
foreign debt. South Africa gave 
details of that moratorium to 
the banks and answered techni- 
cal questions at the meeting. 

The spokesman said that 
South Africa has “a problem of 
ffliquiduy.” but that it told 
creditors h expects modest eco- 
nomic growth next year. 

Banking sources said that 
South Africa is expected to gen- 
erate a surplus of about S2 bil- 
lion next year in its current ac- 
count — which measures trade 
in goods and services as well as 
interest, dividends and certain 
transfers. 

Bankers said that economic 
growth of roughly 25 percent 
seems Hkety in 1986, but would 
not be sufficient to lessen South 
Africa’s black unemployment 
problem. 

Fritz Leutwiler, the former 
Swiss central bank president 
who mediated the talks, said 
that another meeting likely 
would be called in a few weeks. 
He said that in the m eantime, 
be would be having additional 
discussions with the banks. 


25 LARGEST FOREIGN ACQUISITIONS OF U.S. INTERESTS 1984 


ACQUIRER 


ACQUIRED/ MERGED FIRM 


PRICE IN MILLIONS 
OF DOLLARS 


t BfOkeft Hit Proprietary Co. (Autrafa*) 

2 Bank c! Montreal (Canada^ 

3 . Hanson Trust PLC (England) 

4 Ft* Bank Ltd (Japan) 

5 News Corp Ltd (Australia) 


Li tan imemationa: Co. $2,400.0* 

Ham BanMSffk Vie 546 6 

U S. Iteustnas inc 487.6 

Co mm er ci al finance units of Walter E. Heller 425 0* 

International Corp 

Business pu&bcstions awsan of Zift-Oavs PuKsiwg Co 350 0* 


6 

ImsscoLid (Canada) 

Pdapies Orag Stares Inc. 

320 C 

7 

Nippon Kaftan KJC (Japan) 

National Steet Corp {$0%) 

292.0 

t 

Mitsubishi Sank Ltd. (Japan) 

BanCat Tn-Statt Corp. 

2820 

9 

DfthUais Co. lid. (Scotland) 

Somerset hnportes Ltf 

250.0- 

10 

Norwegian CamPean Lm« (Norway) 

Royal Viiung Line .‘.ic 

2369 


12 Fujitsu Ltd (Japan) Amdahl Corp (aas'i 19 5S) . 

12 Frtru KartiH & C* (West Germany) SM Fbctarger Co. inc. 

13 Whitbread l> Co. PLC (Enetand) Buckingham Cwp. 

14 Sooete Quebecotw d'lmtiauves Petroteres (Canada) Sundance Oil Co. 

15 AB Vofco (Sweden) Hamtfton ftJ Carp (add'l 16%) 


189.2 

I72.B 

100.0* 

951 

91.7 


16 

News Corp Ud. (Austria) 

Chicago Sun Tunes 

S90.0* 

17 

Beecham Group PLC (England) 

Roberts Industries Ine 

85 0 

18 

lmasco Ltd. (Canada) 

Rea & Denc> Inc. 

650" 

19 

SaatBk & Satfcfti Co PLCfEngand) 

Hay Group 

300 

20 

Tarmac PLC (England) 

Cemert opereuons at Lone Star Industries Inc 

800* 


21 

News Carp UP. (Aullrefea) 

St Reps Ccrp (5 6%) 

65 1 

22 

Urycorp Canada Carp- (Canada) 

Insimroonal investors Corp 

62 0 

23 

Charterhouse J. Rothschda PLC (England) 

Stanley Intercom Com 

560 

24 

Briefly investments Ltd. (New Zodand) 

HrgbeeCo. 

530 

25 

AB Volvo (Sweden) 

Hamilton Bremen Petroreum Corp- (add’l 24 8%) 

52 0 


COUNTRIES MOST ACTIVE 
IN U.S. ACQUISITIONS 1984 


TRANSITIONS 


United Kingdom 

Canada 

Japan 

Netherlands/ Netherlands Antilles 

Franca 

Sweden 


50 

41 

12 

12 

11 

9 


INDUSTRY AREAS ATTRACTING 
FOREIGN BUYERS 1984 


INDUSTRY AREA 


TRANSITIONS 


Rete.' trade 

Mtrcng, <st & gas eoacton 
Business services 
Prrrtmgi puhlahoig 
Machinery, except elecncaJ 
Efectncai & eiectrorac machinery 


15 

14 

13 

12 

11 

11 


SOURCE: Mergers 4 AcquoMnt Magawie 


Targeting US. Firms From Abroad 

Foreign Concerns Learn American-Style Takeover Tactics 


By Michael Schragc 
and David A. Vise 

H’as/ungron Post Senate 

WASHINGTON — Stephen Waters, 
chief for Sbearsou Lehman Brothers, 1 
when he goes to London later this month to speak 
at a financial conference, the most crowded ses- 
sion wiD be his primer an how to pursue a hostile 
takeover — American -style. 

That is jnst one sign of a recent surge in 
curiosity and activity by foreign companies 
tempted by the prospect of acquiring U.S. corpo- 
rations. 

The increasing globalization of consumer and 
industrial markets, the desire to buy a stake in the 
relatively robust U.S. economy, and, more recent- 
ly, the decline of the dollar have combined to 
ignite a new acquisitiveness in the United Stales 
by some of the largest multinational corporations 
from abroad. 

The surprise is “the dimensions of interest,” 
said Jeffrey Rosen, head of international mergers 
and acquisitions at First Boston Corp. “It is no 
longer confined to S25 million- to-S50 ntiQion 
deals or, at the outside. $200-million deals.” 

He added: “What we are seeing is significant 
interest in very large acquisitions -across a broad 
spectrum of industries anri much - greater U.S.- 
style sophistication in terms of acquisition tech- 
niques. People are no longer afraid of a deal that 
may require a more aggressive approach to get the 
deal done." 

“It’s brutal blunt, direct and fast," said Kamal 
Mustafa, a mergers and acquisitions specialist at 
Citicorp, referring to the effect of Ui takeover 
tactics adopted by foreign companies. “It’s got all 
the efficiencies associated with a lack of tact." 

Mr. Mustafa and Mr. Rosen point to last year’s 
$2.9'biliion takeover of Carnation Co. by Ncstii 


Co. of Switzerland as the “watershed" acquisition 
that sparked the multibillion-doll ar takeover-bid 
boom. 

As further examples that foreign companies are 
willing to risk hostile takeovers, the specialists 
also cite this year’s bids from Unilever, the 
Dutcb-British conglomerate, for Richardson- 
Yidcs Inc. and Hanson Trust PLCs bid for SCM 
Corp. 

Pan ot this new aggressiveness is directly at- 
tributable to the frenetic pace of domestic US. 
merger and acquisition activity. 

If foreign companies were to delay, “most of 
the big deals would be gone," Mr. Mustafa said. 
“These companies want to buy the No. 1, 2 or 3 
American companies" in their fields, he said. “If 
they buy Nos. 4, 5 or 6, they might not get 
anywhere." 

For example, UnQever, eager to expand its 
consumer-products presence in the United States, 
has not given up after failing in its bid to acquire 
Richardson-Vicks. Even though Unilever's bid 
far Vicks led to the sale of the company to Procter 
& Gamble Co., its biggest competitor, a Unilever 
tesman. Humphrey Sullivan, said last week 
the company was looking for another UB. 
acquisition target. ' 

Consequently, foreign companies now are 
working with US. investment bankers to assure 
that they have a crack at premium American 
companies. 

Citicorp said that it has doubled the number of 
its international mergers and acquisitions special- 
ists over the past year. Goldman, Sachs & Co. has 
moved international merger specialists from New 
York to London. Fust Boston said it plans to 
“significantly increase” the number of profes- 

(Contmned oa Page 13, CoL 1) 


Chrysler, UAW Agree 
On Tentative Contract 


The Associated Press 

HIGHLAND PARK, Michigan 
— Chrysler Corp. and the United 
Auto Workers agreed Wednesday 
on a tentative coa tract that gives 
70.000 striking U.S. workers equal 
pay with the other top domestic 
automakers and could cost Chrys- 
ler more than $1 bflKon. 

The three-year agreement, an- 
nounced at 3:15 A.M. by the UAW 
president, Owen F. Bieber, and the 
vice president, Marc Strop, ended a 
bargaining session that lasted more 
than 42 hours. 

Among the provisions of the pact 
was a 52,000 bonus to each worker 
for helping the company avoid 
bankruptcy. 

Officials said production should 
be back to normal by Monday. 

Mr. Bieber said the agreement 
exceeds the pattern set in UAW 
contracts with Ford Motor Co. and. 
General Motors Corp. Chrysler is 
the third largest U.S. automaker 
after Ford and GM. 

“The package that we present to 
the workers is parity phis,” he said. 
“It will move our enure bargaining 
program forward.” 

The proposal also includes lump- 
sum payments for concessions that 
workers made during Chrysler’s 
brush with bankruptcy in the late 
1970s, and addresses their job secu- 
rity and subcontracting concerns 
(bat sparked the strike, Mr. Bieber 
said. 

“Pm confident that when the 

rank and file bears what’s in the 
contract, their reaction wQl be af- 
firmative," he said. 

Chrysleris chief negotiator, 
Thomas Miner, said the cost of the 


contract to the company would be 
m excess of SI bfflion. 

“Wc're pleased with any settle- 
ment,’ 1 Mr. Miner said. The strike 
had been estimated to cost Chrysler 
about $17 million to $20 mOiion a 
day, and Mr. Miner confirmed that 
figure. 

“The union expects to ratify the 
pact over the weekend," he said. 
“We should be back in full opera- 
tion by Monday.” 

Union officials, who spoke on 
condition of anonymity, said the 
first year of the contract would 
provide a onetime payment of at 
least 52,000 to 70,000 UA workers 
and $1200 to the union’s Chrysler 
retirees. 

It also includes a 225-percent 
wage increase the first year, a 225- 
pereent performance bonus based 
od the first year’s straight-time per- 
formance, and a 3- percent base- 
rate increase in the third year, the 
officials said. 

The third year will serve as a 
patters in GM and Ford talks, Mr. 
Bieber said. 

Chrysler workers had been mak- 
ing about SI 3-23 an hour, aboui six 
cents less than the average GM and 
Ford weaker. 

Mr. Bieber said the pact also 
follows (he paaera at Ford and 
GM by providing job-security pro- 
tection for workers, and it address- 
es Chrysler’s practice of subcon- 
tracting much of its work to outside 
suppliers. 

The 170-member Chrysler Coun- 
cfl of local union leaders was to 
review the pact during a meeting 
Thursday. 


World Bank 
To Give China 
$3-BiItion Loan 

Compiled by Our Staff From Dispatches 

BEIJING — The World 
Bank win lend C hina $3 billion 
over the next five years, China’s 
deputy finance minister, Tian 
Yin on g, said Wednesday. 

The official news agency Xin- 
hua quoted Mr. Tian as saying 
the money would be spent on 30 
new projects. But the report did 
not say what the projects in- 
volved, nor did it disclose the 
terms oa which China would 
repay the new funds. 

Since China joined the World 
Bank in May 1980, it has bor- 
rowed 53.02 billion from the 
organization for energy, indus- 
trial agricultural and transport 
projects. Some $1.18 billion 
came from the bank’s Interna- 
tional Development Agency. 

The World Bank is scheduled 
to present a lengthy assessment 
of China’s economy to Chinese 
leaders Friday. (Reuters. UPI) 


Consumer Prices 

In U.S. Up 0.2% 
In September 


Compiled h Our Stuff From Dispatches 

WASHINGTON — Falling 
transportation costs held the Sep- 
tember consumer price rise to a 
scant 0.2 percent for a fifth straight 
month, the U.S. Labor Department 
reported Wednesday. 

In another report, the U.S. Com- 
merce Department said that orders 
to U.S. factories for durable goods 
dropped 1 . 1 percent last month as a 
big decline in demand for military 
hardware offset small gains else- 
where. 

Without last month’s 19.3-per- 
cem drop in defense contracts, new 
orders would have posted a 0.7- 
percent increase and a particularly 
key category'- non-defense capital 
goods, showed a 4.7-percem in- 
crease. 

September's seasonally adjusted 
02-increase in the Consumer Price 
Index means retail prices are rising 
at a 3.2-percem rate for the first 
three-quarters of 1985 and. coinci- 
dentally, are up 32 percent over 
September 1984. 

For the past five months, prices 
have risen at an annual rate of just 
24 percent — mostly because of 
declining grocery and fuel costs. 

A fifth straight decline in the 
transportation component — 
which includes gasoline and auto- 
mobile price and financing charges 
— was the main factor in keeping 
September's overall increase mod- 
est despite a rare rise in grocery 
prices. 

Gasoline prices were off 0.8 per- 
cent for the second month running. 
Used car prices fell 0.2 percent af- 
ter a 1 2 -percent decline in August. 
New car prices continued to rise — 
up 0.3 percent — but financing 
charges were down 4.6 percent, the 
tenth consecutive monthly drop. 

Overall food and beverage costs, 
including restaurant meals, rose 0.3 
percent, the sharpest since a 0.5- 
percent rise last February. 

That component had risen a mi- 
nuscule 0.1 percent in each of the 


preceding three months because of 
generally lower prices for food pur- 
chased in stores. 

But beef and veal prices rose 0.5 
percent last month, the first in- 
crease this year, and the fresh fruit 
and vegetable category was up G.7 
percent because of sharply higher 
lettuce prices. Thai left grocery 
prices up 0.3 percent, the same as 
the broader food and beverage in- 
dex of which they are a pan. 

The cost of meals eaten outside 
the home rose 0.5 percent and alco- 
holic beverage prices rose OJ per- 
cent. 

Housing costs were up 02 per- 
cent, medical care costsO.5 percent, 
clothing prices 0.5 percent and en- 
tertainment costs 0.5 percent. 

In all, the broad-gauge Consum- 
er Price Index for All Urban Con- 
sumers stood at 324.5 in Septem- 
ber. meaning goods costing S 1 0 ir. 
1967 would have cost 532.45 last 
month. 

In the durables report, mean- 
while, the Commerce Department 
sadi that new orders increased 2.S 
percent from July to August fol- 
lowing a 2.3-percent decline from 
June to July. New orders were 
worth 5106.1 billion in September, 
after seasonal adjustment. SI. 2 bil- 
lion less than in August. 

Durable goods are watched 
closely because they are a particu- 
larly good gauge or the business 
community’s buying sentiment. 
The orders can show the effect of 
interest rates, since most durables 
purchases have to be financed. 

Transportation-equipment or- 
ders were down 4.7 percent follow- 
ing a 10.5-percent increase in Au- 
gust. mostly due to large increases 
in the motor vehicle and aircraft 
industries. 

Machinery orders increased 3.9 
percent with an increase in electri- 
cal machinery offsetting some of 
the month’s decline in nonelectrical 
goods. (AP, VP If 


Norwegians Defy OPEC 9 
Will Increase Oil Output 


Reuters 

OSLO — Norway has refused to 
beed OPEC demands to shore up 
prices by anting back production, 
according to a statement Wednes- 
day by the oil and energy minister, 
Kaare Kristiansen. 

Mr. Kristiansen told a seminar 
that Norwegian crude oil produc- 
tion will reach 1.1 -million barrels 
per day by 1990. an increase of 40 
percent over current levels. 

Norway is not a member of the 
Organization of Petroleum Export- 
ing Countries. 

Although Mr. Kristiansen ruled 
out cooperation with OPEC, he 
said he was willing to meet with the 
Indonesian oil minister, Subroto, 
who is the current OPEC chairman, 
as long as it did not imply any 
closer Norwegian link to the orga- 
nization. 

Mr. Kristiansen told the seminar 
that average Norwegian output in 
1985 will be 760,000 barrels daily, 
although production at the end of 
this year will be about 100.000 bar- 
rels per day higher than the annual 
average. 

Oil companies operating on the 
Norwegian continental shelf have 
said production was likely to top 1 
million barrels daily as early as 
January 1986. 

Oil industry analysts said Nor- 
way’s 1990 production would be 
more than several OPEC nations. 

Mr. Subroto, wbo is in England 
for an oil conference, will meet 
with the British energy minister, 
Peter Walker, in London, but Brit- 
ain, the major North Sea producer, 
has also ruled out cooperation with 
the carteL 

On Tuesday in Jakarta, Mr. Su- 
broto called for cooperation be- 
tween OPEC producers, non-O- 
PEC producers and oil consumers 
as the rally way to rule out sharp oil 


price movements. Earlier he had 
called for a meeting of OPEC and 
non-OPEC countries to discuss co- 
operation to ensure a stable mar- 
ket. 

Mr. Kristiansen said that North 
Sea production levels are unlikely 
to increase dramatically in the next 
10 years because British produc- 
tion, currently about 2.6-million 
barrels daily, will soon begin to 
drop as Norwegian levels increase. 

■ Mexico to Raise Price 

Mexico will raise the price of 
Isthmus crude soon by between 50 
and 75 cents a barrel, Reuters 
quoted diplomatic sources as say- 
ing in Mexico City on Tuesday. 

The disruption of Soviet sup- 
plies. low inventory levels world- 
wide and the continuation of the 
North Sea maintenance program 
have kept demand strong, they 
said. 

The sources said the high-quality 
Istiunus, at $26.75 a barrel for U.S. 
delivery, was under the price of 
competitors such as November 
Brent at S28.50. 

They said the increase was to 
have been made for October but 
was put off because of September's 
earthquakes, which disrupted ad- 
ministration. 

The price of Isthmus crude was 
cut in July by SI a barrel when 
Mexico’s oil exports had fallen to 
nearly half that average level of 1 5 
million barrels per day. 

The sources said that memories 
of that event have made Mexico 
nervous about declining output, 
and that the increase will probably 
only be 50 cents, although 75 cents 
is possible. 

The rise was likely to be an- 
nounced after Wednesday's regular 
meeting of the pricing committee, 
they added. 


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INTERNATIONAL 


'Wednesdays 


MSE 

Qoang 


Tables Isdwto the nationwide prices 
«p to Wte closing on Wall Stmt 
and do not reflect krte trades elsewhere. 


UMontn 
HWilw Stack 


Dtv. YW. PE nb MW Low M.O« 


(Coatsmed from Page 8) 


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on America 



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l77.vA r/ - 




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penetrating light on American politics, economics, markets 
and society. And a controversial light on the future of the 
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objective account of America now and where it will be in 
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chi 





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INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 19B3 


Paae 11 


BUSINESS ROUinmp 


FCA’s 
T otaled $12.3 Million 


r 

■'* 


The Assoaattd Press 
WS ANGLES - Financial 
AnK ? ca <w Wednesday 
rqrorted a profit m.the third quar- 
to- — only tho second gain it has 
si«>wn in the past n& 
acaumilated losses of S675?Sfl! 

. based in Irvine, California, 
k 4e largest U.S. savings-and-loan 
qS^SCompany and the parent of 
Stockton-based American Savings 
& Loan Association. - 

maths ended 
SepL 30, FCA said it earned SI 13 

nu^on, or 22 cents a share, versos 

5l-i milBon, or an equivalent loss 
of 10 cems a share afterpayment of 
preferred dividends, a year earlier. 

Revenue was dawn 95 percent in 

$e52S£ 5781 mi& ” 

The company’s nine-month loss 
J^rrowed to S43.7 million from a 
578.4-milbon loss a year earlier, cm 
J-^Peromt decline in revenue, to • 
S232 biBion from S2.4 bilKon. 

FCA also said it added $140 nril- 
Uon to its provision for problem 
toans during the third quarter rais- 
ing the total to S 1.7 billion.’ The 
figure was SI .56 billion at the end 
of the second quarter and $1.13 
billion at the end of last year. 

As a result, FCA added $25.6 
rmllion to its reserves to cover pos- 
sible, loan losses, bringing totaf re- 


serves to $472.6 mUfioav tbe com- 
. parry's chairman and chief 
executive, WEEam Popqoy, said. 

“We believe the addition to loan 
loss reserves at this rime is both 
prudent and necessary, largely be- 
cause -a sluggish real-estate market 
has. increased delinquencies and 
foreclosures in our portfolio of sin- 
gte-famfly mortgages,’* Mr. Pope- 
joy said. 

FCA confirmed the new reserves 
were set tq> to cow troubled mort- 

forced out as bead 
of the company in August 1984. 

Ac the end of last year, the com- 
pany set aadeS421.6 m2Uon in loss 
reserves because of mortgages is- 
sued during Mr. Knapp’s tenure. A 
special task fence established last 
year to dispose of the troubled 
loans has sold $266 million of the 

loans. 

. FCA said its American Savings 
unit bad a net increase in deposits 
in the third quarter of $252.8 mil- 
lion. But 5435.9 million in deposits 
came from its acquisition of Pacific 
Savings Bank. Without those 
funds, FCA would have shewn a 
net deposit loss of S183.1 million. 

FCA began losing money during 
the second quarter of hot year, 
when it was forced by regulators to 
restate earnings and show a deficit 
for the quarter of $107.4 million. 


E.F. Hutton Profit Fell 61% 
To $6.7 Million in Quarter 


Household to Sell 
Retail Unit for 
$700M0ion 

The Associated Pros 

CHICAGO — Household 
International Carp, has tenta- 
tively agreed to self its merchan- 
dising subsidiary, one of the 
largest U.S. retail operations, 
for neatly S7QG million. 

The leveraged buyout was 
urinated by a group of investors 
including Donaldson. Lufkin & 
Jenretic Securities Carp., a New 
York investment firm, and Fox- 
Meyer Corp., a Denver drug 
wholesaler, and is expected to 
be completed try the end of the 
year, Household international 
said Tuesday. 

Household Merchandising, 
with annual sales of $5.4 bil- 
lion, includes 176 Van’s super- 
markets in California and Ne- 
vada, 739 TG&Y discount 
stores in the Sun Bell, 1,629 Ben 
Franklin variety stores and 
1,079 Coast-io-Coasi hardware 
stores. 

Household International, 
which reported S8J billion in 
sales last year, owns Household 
Finance Corp.. National Car 
Rental and a manufacturing 
subsidiary. 

In a leveraged buyout, a 
group of investors takes a pub- 
lic company private by buying 
control with borrowed money. 


JVC Parent Net Falls 49%, 
VTR Price Drops Blamed 


Reuters 

TOKYO — Victor Co. of Japan, 
which makes phonograph records 
and video equipment, said 
Wednesday that parent company 
net profit fell 49 percent in the six 
months ending SepL 20. 

Earnings fell to 4.51 billion ven 
($20.9 million), or 19.51 yen per 
share, from 9.01 Whon yen. or 

39.06 yen per share, in the like 1984 
period. 

Sales slipped 1 percent, to 30650 
billion yen from 310.05 billion yen, 
the company said. 

In the half ending SepL 20, sales 
in the audio equipment division fell 
4 percent, to 4950 billion yen from 
5158 billion yea. Television sales 
rose 25 percent, to 45.06 billion yen 
from 35.92 billion. 

Sales of video tape recorders and 
related equipment fell 5 percent to 

198.06 billion ven from 208.99 bil- 
lion due 10 a fall Of about 20 per- 
cent in VTR market prices. 

Citing the sales declines, JVC 
also revised its profit forecast 
downward to 1050 bill: on yen 
from_18 billion yen for the year 
ending March 20. 1986. Profit in 
fiscal 1984 was 19.70 billion yen. 

JVC also noted slow sales in of- 
fice automation equipment and the 
yen’s appreciation against the dol- 
lar in revising its forecasts. 

Masanobu Dceda, the managing 
director, said that losses from for- 


eign exchange were expected to bej 
about 4 billion yen in the current 
year. 

The company forecasts sales for 
the year at 615 billion yen. down 
from the 680 billion yen estimated 
earlier and compared with 650.06 
billion yen in sales the previous 
year. It said that it experts to retain 
a 12.50-yen dividend for 19S5-S6. 

BETPLCinBid 
For SGB Group 

Reuter; 

LONDON — BET PLC said 
Wednesday it is bidding for the 
whole of SGB Group, an engineer- 
ing equipment concern, in an offer 
valuing SGB at £111 million 
(S1S5.4 million). 

But SGB rejected the offer, de- 
scribing it as inadequate. The terms 
of the bid are three new deferred 
ordinary shares in BET for every 
four SGB ordinary shares. 

C.H. Beazer (Holdings; PLC 
which earlier this month made a 
tender offer for 25 percent of the 
issued share capital of SGB. said it 
could not comment on BET’S bid 
until after publication Thursday of 
the result of tbe Beazer offer. 
SGB’s shares touched 273 pence in j 
London Stock Exchange trading 
after Wednesday’s developments. 


BANK jUUUS BAER 

LONDON BRANCH 

Incorporated in Switzerland with limited Liability 
four WGiwf te 

BEV1S MARKS HOUSE 
BEViS MARKS 
LONDON EC3A7NE 

TELEPHONE: 01-623 4211 
TELEX: 887272 
FAX: 01-283 6146 

|B B 

BANK JUUUS BAER 

For the fine ait of Swiss banking. 

ZURICH LONDON NEWYORK 


ned a 


:i!i! 

■- 

die 

sD2 


The Associated Pros 

NEW YORK — EF. Hutton 
Group Lit, parent of the U.S. bro- 
kerage house, said Wednesday its 
profit dropped 61 percent in the 
third quarter, to $6.7 nrittion from 
S23.1 million a year earlier. 

But Phi bro- Salomon Inc., in a 
separate announcement, reported 
its after-tax earnings improved 17 
percent to $139 million, or 94 cents 
a share, in the third quarter from 
SI 19 minion, or 83 cents a share. 

The decline in E.F. Hutton's net 
income lowered earnings per share 
to 25 cents from 90 cents in the 
quarter. But the company noted 
that last year’s third-quarter net 

Deutsche Bank. 
Plans New Issue 

Ratten 

FRANKFURT — Deutsche - 
Bank AG said Wednesday it is rais- 
ing nominal capital by 1 17 mQHori 
Deutsche marks (545 milli on) to 
158 billion DM through a one- 
for- 15 share issue. 

. Tbe new 50-DM nominal shares 
will be offered at 450 DM each. 
Ibis compares with a dosing share 
price on the Frankfurt bourse 
Wednesday of 680 DM. 

The issue, believed by bankers to 
be the largest in West German his- 

S will raise 1.05 billion DM in 
The issue will be launched 
between Nov. 12 and 26 and the 
new shares will qualify for a full 
1985 dividend. 


was bolstered by a S14- nriiri on ret- 
roactive tax credit. 

This year’s results were aided by 
the Aug. 1 sale of EF. Button. 
Credit Corp. to Chrysler Financial I 
Corp. * - - 1 

A gain in revenue, which rose 11 
percent to S750.6 million in tbe 
latest quarter from S675.1 million a 
year jcartiec, was absorbed by high- 
er salaries and other expenses, ac- 
cording to Robert Fomon, EF. 
Hutton chairman and chief execu- 
tive officer. 

Nine-month net totaled S5S.8 
million, or $2.09 a share, up 96 
percent from $28.4 nriffi on, or 
$1.1 1, a year earlier. Revenue to- 
taled .$2^27 billion, up 25 percent 
from $1.82 bQlibn. 

Phflno-Salomon Inc, is a holding 
company for two separate subsid- 
iaries, Salomon Brothers Inc. and 
Philipp Brothers Inc. 

. In the first nine months. Phibro- 
SalomonY net amounted to $425 
millioin, dr $2.89 a share, up 24 
percent from $342 million, or 
$2.39. • i 

“The -company’s third-quarter 
performance maintained the mo- 
mentum of recent ■periods,*’ said 
John H. Gutfteund, chairman and 
chief executive officer of Phibro- 
SalomcML 

; Revenue totaled $6.99 b3fion m 
the quarter, 6 percent down from 
$7.45 billion a year earlier. Nine- 
month revenue totaled S19J1 bil- 
lion, down 8 percent from $21 J)3 
billion. 


COMPANY NOTES 


lud 

lie Ban 1 
Hum 
.itiow 


hf. 

X‘P” 


,1# 

ori*- 1 ' 




J 


Alcoa of Australia Ltd. will cut 
alumina production at its Kwinana 
refinery in western Australia to 70 
percent of capacity for an indefi- 
nite period. Tbe cutback will re- 
duce output to around 1 -million 
metric tons yearly. 

AfitaHa shareholders wijl vote 
□ext month on a proposed listing of 
the company’s ordinary voting 
shares on Italian exchanges. 
Sources said earlier this month that 
1558 percent of Alitalia's ordinary 
share capital would be offered to 
existing private holders of pre- 
u, f erred stock in mid-November. 

7f Avalon Corp. has withdrawn its 
$6-per-share tender offer for May- 
nard Oil Co. and has agreed to sell 
its 7.4-percent Maynard OH stake 
back for the same price. The two 
companies have agreed to termi- 
nate all pending litigation. 

Babcock £ Wilcox signed a con- 
tract with Beijing Boiler Factory to 
spend S12 milli on on a joint ven- 
ture to produce power-station boil- 
ers. Tbe U.S. partner will provide 
designs, technology and quality^ 
cohiroL 

Brambies Industries Ltd. reached 
agreement to acquire a further 40 
percent of Groupe Caib from 
Groupe Bruxelles Lambert SA to 
take its holding in Caib to 90 per- 
cent Brambles said it will pay 
about 30 mil li nn Australian dollars 
(S21 million) for the additional 

stake. 

Brierky Investments Ltd. will 

tyseek shareholder approval to 
broaden its offshore equity base 
through a 20-milH on-share place- 
ment and an 82-million New Zea- 
land dollar ($46.5 million) Swiss 
franc convertible bond issue. 

Bud, tbe French state-owned 
computer film, has received a small 
order for an experimental batch Of 
“smart cards" from Royal Bank of 
Canada. The cards allow customers 


computerized access to a wide 
range of banking information. 
They, will be supplied through 
Bull's U.S. subsidiary. 

Crowu ZeBeibach Corp. said its 
announced restructuring will have 
resulted in 1,000 layoffs between 
March 1 and the end of the year. 
Severance pay accounted for a re- 
structuring charge of SI06J2 mil- 
lion, after taxes, which resulted in 
tbe third-quarter loss of S84.6 mil- 
lion announced Monday. 

Dragona i r plans to enlarge its 
share capital, and companies asso- 
ciated with Sir YX Pao have 
agreed to take a minimum 30 per- 
cent stake: Mr. Pao would assume 
.the chairmanship of Dragonair. 
Hong Kong Macao International 
Investment Corp. would take a 25- 
percent stake. 

Harris Graphics Coqx is now 
owned 8.4 percent, or 853,000 
shares, by New York investor Ivan 
Boeslcy, according to a filing with 
the ILS. Securities and Exchange 
.Commissioh. He is considering a 
leveraged buyouL • 

Skinner Engine Co. of the Unit- 
ed States has joined a consortium 
of British companies to build two 
coal-fired steamship engines for a 
Polish passenger ferry which will 
operate in the Baltic The ship will 
be built by Kockums, and experts 
believe it will be cheaper to run bn 
available Polish, coal 

Bonn’s Wholesale Sales Rise 

Reuters 

WIESBADEN, West Germany 
— Wholesale sales in West Germa- 
ny totaled 72 billion Deutsche 
marks ($27 trillion) in . September, 
an inflation-adjusted rise of just 
under 4 percent from a year earlier, 
the Federal Statistics Office said 
Wednesday. 


INVESTMENTS — UJ&A. 1 


INCOME PRODUCING REAL ESTATE 

Ideal for Pension Funds and other large Groups 

1. Safe and Secured 

2. Below Market Acquisition 

3. Total Management 
^ . 4. High Yearly Returns 

5. Excellent Appreciation. 

Properties $3,000,000 and up 
P rinc ip a ls only pl ea s* imply to; 

| is e m Lloyd J. WSBams, KetriSgr . 

I 1 1 I I 5629 FM I960 Suite 270- 

ril I I Houston. Texas 77069. 

V,/ T«t_- (71 3) 5S6-93V9. Ttxu 33735A. 






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IF YOU KNEW THAT REPUBLIC HAS BEEN CALLED “POSSIBLY THE SAFEST BANK IN THE UNITED STATES," YOU’D BE PHONING THEM TOO. 


Republic National Bank of New York. Traditional banking in an age of change. 




Nt-vrOH,.|l^.r^JO«»0 MM KRftlUltMJHl M,LAN,3<. j, 8t*M. A SAW |<M WITH CaP.Ta l or OVtft SI MOW W0 







Page 12 


BNTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 



Closing 


Tobies Include the nationwide prices 
up to the dosing on Wall Street 
and do not retied late trades elsewhere. 


i2 Month 
High Low Hoc* 


(Continued from Page 10) 


? Redmn 30 35 16 

ir^i S'* Reece 34 

1U Regal 

f-’.'* 27% Relcnc jo 24 14 

loth 4% RcpAIr s 

3 T'« RwAwt 

12% Ti RpGvp s JO 4.0 9 

W M RePNY 144 14 8 

371, 231, RNV PfC 112 II J 

34V5 2456 RapBK lii U 4 

30 2J% RntBk pf2.!2 74 

2*% 15% Rati Col 31 1 J 
3«* 22% Revco JO 18 32 
171. 10'. 1 Revero 2 


32% Revlon 1X4 13 18 4838 56M STi S? + '» 
78% 93 RvlnpfB 83 98": 98':. 981; + ’, 

2«9 17% Rexhm .70 11 15 14 23L 32' s 321* + 

in, 11*. Rennra .44 18 id 1«4 14% 14% 14% •*■ St 

77% 25% Rev-run 3 1.48 56 i 4147 am 2643 26*J + % 
■ 301c. T22*« HovInpflZta 108 113 129% 138'* 12»% * % 

4H, JO Rev DAI I 1 JKJ 11 8 395 321- JTie JTM — % 

fit 26% KehVck 143 23 23 235 *8% rfii 481- 

33Vj 21 <3 Bile Aid 40 II 15 3*7 24>. 233- J4 + % 

743 2% RvrOkn 17 33 3 2’s 2'. 


36% 28% RobStiw 130 35 8 

*1% 25% Roww 140 63 

24% 5% v| Robins 

24TB 17% RoctlG 2JD 10.9 5 

42W) 31 RoehTl 144 67 9 

181* HckCtrn 

4144 28% Roefiwl 1.12 12 9 

405 287 Rklnlpt 4.75 \A 

2 $84- PonmH 130 13 II 

70 40 Rohr In 10 


37% 14% RoInCm 40 U 31 103 26% UV| 2*% 4- l 


IS 1 - 5% RollnE 6 

114* 8% Rollins -16 38 

3% 2 Rcrre. on 

19 II Rooer 64 4J 

47 34 Rorer 1.12 17 

lit* 7v* Rowan .12 16 

64 r i 47% RovID 329e S3 

17 10% Roy in: s 

29V* 20 Rubmd s 
36 14SU RusSBr II 

2154 154* RusTog .76 IS II 

31% 2% RvanH 1K0 17 9 

30% 23 Ryders Ml 11 

29 I8vj Rviand m 2.9 

2B'-u 8% Rvrrur 

134* 11V, Rymer pfT.I7 I0J 


200 27 17 
If 10 
80 14 14 
.04 .2 40 

241ell7 
30 1.7 16 



llMaflilt Sis. Close . — _ 

High low Stock Oi*. Yld PE ltti Hfah Law flnt.Oftl | High Lot Stock. 

J7% 74% SlerlDO 1.20 36 15 S8B 3», 3*% J£i +1% 

26 15** StevnJ 150 4.7 J7i 35*" 24% 251- 4- % 

33U, 25% SlwWrn 168 5.7 19 94 J«% 29 29>i-% 

14 10 SlkVC al 150 7-7 100* 13 131* 13 + Vi 

453* 389* SHKWW 150 17 B 10 43 43 43 

344* 24 SlmeC JO 23 12 191 26 254, 26 

34% SlopShp 1.10 13 12 B23 4W* JTV> J9U. +1% 

21% 164* StorEo 1.92 95 14 48 I9T. 19V* 194* — V* 

■«. iv- visiorT 347 I !«*!** 

89% 40 Storer 40 A 1*4 89% 89W 89% + W 


100s Hf0h Low QuoLC 


5*e l' : VISlorT 

39% ,0 Storer 60 6 

714* 17 Strtiwn JEe 46 

19?* 14% StridRI JO 46 33 

&</. I»* SuovStl 
39 234* SunCh 48 1.4 12 

114* 64* SunEI 

56% -a** Sun Co 2J0 II 

1104* 9t>% SunCPf 235 2.1 

49V* 40 Sundstr 150 48 12 

1 |v# S'* SunMn 
7% 7 SunMol 1.1* 154 


347 I ID* 19* 

60 6 364 89% 891* 89% + 1* 

62*46 97 18 1746 17%—% 

JO 46 33 =348 18% 178* 1B% + % 4&Vi 31 Vs 

122 43u 4V* 44*— % 4«i 24% 

48 14 12 2fl 3444 341* 348, + l* n S5 

65 9 s * ** ^ 56V* 4946 

2J0 46 11 257 51% 50% 51 33 74% 

Z35 2.1 2 105% 105% 105% — % 399* 291* 

1J0 4J) 12 49 451* 44% 45 + V* B4% 65V* 

285 6W 6% fi%— V* 45 34 

1.19 15 6 520 7»* 74* 7S* + V* 39% 31% 

25 20V* 

36% 301* 
21 15% 

33V* 17% 


Si* Claw 

10m High Cow Oirrt Ck'aa 


S 14 7 * SuoVal S 

48% 29% SvPMkt 
17% 13% Swank 


SunTrsi 120 36 10 337 35% 35 


17 340 21 204* 21 % % 

M l.l 12 81 431* 47% 43V* % V* 

68 3.7 1" 7 11 13 13 — % 


2Z% 14Vs Sytjran 1J« 5J 13 W12 »'-• VJii 19% — Sa i,% 


20 35 16 179 Bl* 8% BV= + % 

36 60 11W IIS* IV* + V* 

51 <v 

JO 2J 14 489 32 T * 3i% 31% — 1% 

5 «30 9*o 9% 9% 

94 2% 2 Vi 2%— ’• 

JO 4.0 9 107 7% 71* TV* 

64 3.4 8 68 «7*« 4Ts 47 ’b + % 

1.12 1IJ I 27% 27% 27% % 

164 56 6 93 30% 30% M% — '-1 

1.12 76 9 76’* 26% 26% — V* 

32 1 J 277 25% 24% 25% + % 

JO 2J 32 1670 29% 28% »•*— % 

2 229 16% 15** 16% + V, 


39'-, 30'* Svbmol 260 7J 

16'* 10% SvmsCp 

67% 45% Synlf* 1.92 18 

40V* 30% Sysco .40 U 


260 TJ 6 33% 33 33 —84 

14 110 H% 11% 11% + 1* 

1.92 18 15 911 68 60% tB +1% 

.40 16 16 530 39** 38% 3S% — I* 


50% 30% TDK. 
36% 27% TECO 
12% 7 TC1F 

21% 12% TNP 
28% 181* TRE 
831* 68 TAW 
6 US vlTacBt 


.7 25 36% 36% 36% — V* 

2J6 7J 9 5745 32% 32% .32% + V* 

11 104 7% 7% T% + % 

155 73 8 27 17% 17% 17% — % 

150 JJ P 786 28% Z» 27 —7 'A 

3J0 3.7 39 913 BS 7 * K 82% — Vi 

IS 1% 1% IW. — % 


871., 53% Tan Bra 1.16 1J 16 869 78% 77% 78 — W 

211* 12'* Tallev .159 .9 12 126 17'- 17 17% + % 

23'* 1! Talley pt 160 5.1 2 19% 19% 19% — % 


28 21% 
23% 18% 
53 26% 

123 60% 

43 31% 

10% 9 

26% 21 
27% 27% 
281* 23% 
=3% 19 
% 16% 
27 18% 

23 19 

35«* 30% 


197 14.1 
2JD 126 
440 136 
1.90 115 
■60 28 ft 

n ^ 37 
1.16 12 11 


28% 

17V* 4- % 
29% * % 
141* — V* 
21% + 1* 
42Vj- % 
35% - V* 
16% + % 
3 + V* 
28 V* 4- % 
5W— V* 
321* — % 
39% + % 
% 

54 — % 

Mfi* 

35% + l* 

77% . 

39% - % 

34% — V* 
31% — H 
32 61 

17^ 

18% + » 
20% 

26% + % 
31 + % 

281* + % 
lift — % 
37V,— H 
10% + V* 
241* + % 

25% 

22% * % 
22 
19 
21 % 

22% +■ V, 
34V, + % 


81 56% Tumbl'd 140 JJ 14 150 79 7B% 79 

36 =3% Tandy 16 Z71D 34% 34% 34% + V« 

154- 12% TndvcU 14 3» 14% 14% V4% + U. 


47% 23% VP Carp 1J U II 329 45% 45% 4% 4- 1* 


68’- 47% Tetlmr 1 00 1.9 14 936 53% 52V- 52% + % I 


15 3*7 24'. 23% 54 + % 

17 33 3 IV 2~» 

S 33 34V* 33% 33% 

285 !»v* 25% 25"V — '* 
2449 10'.* 9% 101* + % 
5 424 20'- 20 201 b— % 

9 35 37 3*1, 361i— i* 

6963 IS 1 - IB IBie — % 
9 1447 35% 34% 35 — % 

1 340 340 340 —13 

II 1 90 46’- 66 06% 

10 254 59 58% 59 


5‘- 21* Tricorn 

278% 727 Teld.n 

24 17% Telrate 

48% 30% Telex 
J04e 31% Tcmpln 


ft 7 7% 2% 2% 

KJ B34 254 3471*255 -44V, 

J2 12 19 749 141* 14 14% + <6 

It 960 46% 45% 46% + % 

64 17 10 57 17% 371* 37% * V* 


451-, 33"-- Tenneo 2.92 76 13 2146 38% 38 


32% 17'. s Taroyn 
15 8% T«or o AO 36 

57’* 70% Tt»r Pi 116 96 


10 462 19 181* 18'* 

1193 11% 101* 1]U + 17 
54 23 2H* 23 + '■* ! 


40% 32% Texaco 3J0 7J J4 4172 38% 37% 38’A + 'A 


371* 23% TxABc 152 5J 

44% 27% TexCm 166 L7 

39 26% TexEst 2 30 fi-9 

Sfl'i* 52 TxETpf 6.040106 


81 29% 29'i 29V- — % 

103 27% 27% 271* — % 

832 37% 36% 37’A + 

105 571 o 56** 56% — V* 


23 J72 12'* IT* 12%— '■* 

66 3B 17 301 I2 1 * 12 12 -1 % . 

158 21. 21 ■ 2% 

64 43 199 14% 13% 13% + Vs 

1.12 2.7 20 944 41% 4I*.| 41% — V, 

.12 16 63 1150 71* 71* TV* -6 U 

JJ9e S3 1 3205 63'- 63 63W> + ■« 

• 17 227 11-* 13>- 13% 

19 337 29% 28% 2S% — % 

11 89 17% 17% 17% + % 

76 IS 11 125 22 71% 21% + V* 

1I» 17 9 25 21% 26' • 2TV»— 1* 

60 22 11 2725 27% 27% 27% -l- 'A 

66 2.9 11 35 231* 221, 23% ■*• '» 

4 190 15% 15 ISlf— % 
1.17 I0J 233 11% 11% 71% — 


34% 25 Texlnd SM> 25 12 141 31‘* 311* 311* 

133% 86<A Tex Inst 2J» 2.1 13 742 94% 93'A 941* 4-1% 
4% 1 Taxlnl 1351 J% 3'- 3% 4- U 

21% 14V* TeiOCs .IS 1J 12 8501 18% 17% 18V- — % 

35 28% TxPoC 60 U 22 17 29V% 29% 29V»— V* 

31% 251* TexUlll 2J2 9.1 7 6025 27% 27% 27% * % 

4% 2 TexlllR 225 2% 2% 2%— V* 

59% 31 Textron 1J0 U 10 1033 47 4 «V« 46'* 4- % 


14% 57* Valera 

25% 14 Verier- pt 164 142 

3V* 2% Valryln 

28% 19 VanOrn I JO 43 
4% 2% Varco 
12’* «U Vnrcapr 
42% 221* Vat Ian J6 1J 

13% 9% vara 60 10 

25% 13 VMCO .40 2.7 11 

13 3% Vendo 21 

11% 9% Vest Sr iJOall.O 

13% lZHVeslmn 
61V* 29% Viacom 68 Jt 
73V* 58 V, VqEP Pf 7.72 116 
93 73V* VaEI Pf 860 9J 

91% 73 VoEPPl 9J5 II 3 

73 SB VoEPfJ 772 11.0 

70V* 55% VoEPpt 765 10.9 

27% I3V* vishav s 
56% 33V* Vomad 


1476 1|V* II 11% 4- V* 
L64 145 11 26V, 24 24% 4- V. 

17 7% 2% 2% 

M 43 7 23 23% 23V- 23% 

Z4H 4% 4V* 4% + % 

17 13% 73 13% +1 

-26 IX 17 260 25V* 25 25% 

60 XO 37 371 13% 13% 13% — % 

.40 2.7 11 62 14% 14% 14% 

21 =1 1014 10% 10% 

JOalT.0 357 11 10% 101* 

16« 12% 11% 12%—% 
68 X 26 2098 58% 56% 58V* +2% 

.72 11J0 2S0z 7S 69 70 4-1 

L60 9J 2001 92 91 92 4-1 

L75 11 3 50z 86% 86% 86% 

32 11.0 S20i 70 70 70 4-7 

65 10.9 5000* 68% 67V* 68% 4- % 

17 13 72 27 27 

26 5 56% 56V* 56V* 4- % 


BS’A 66V* VuIcnM 2J0 3J 13 553 85% 84% 85 4- 


53 28% Textr Dl 160 16 

Mi* 5% Thaek 
73 10 ThrmE s 


1 40% 40% 40% * % 
4 y- 9% 9><, 

81 20 19% 19% — U 


73 10 ThrmE S 23 481 20 19% 19% — U 

43V- 301* TnmBel Ue 3.9 IS 243 35% 34% 34'*— % 
19% 15% Thom In 68b 17 ID 154 18'* 18% 1BW 4- % 

18% 13V. ThmMed 40 17 12 172 14% 14% 14% — % 

22% 18% Thrlltv 60 19 13 '42 20% 20' , 20% + % 

34 13% Tldvyrr .90 eX 495 15% 15 15% — H 


22% 18% Thrlltv 
24 13% Tldvyrr 

10% 5% TluerJn 
61% 40 Time 
23V- 14% Timplx 


60 19 13 '42 20% 20' - 20% + % 

.90 6X 495 15% IS 15% — % 

19J0 ftv. 7% B% + VI 
1X0 IX 16 1740 56 54% 55% 4-1 

19 349 21 20 21 4-1 Ve 


58V* 36% Time AX IJi 3X 13 B77 47V* 45% 46 — 1% 
57% 45’* Timken IXOa 19 21 63 45% «v* 45% 


9% 4% Titan 

11% 8% Titan at 1.00 9J 

39’* 26% TodSho 1J3 46 

21% 15% Toknms 68 17 


146 6'fe 6% 6'h— % 

IS 10% 10% 10% + Vi 

75 29% 2H% 28%— % 


Toknms 68 17 11 185 17% 17’A 17%— % 


211, 16% TalEdiS 152 116 
29V* 24% TolEd of 3.72 119 
30% 34% Tot Ed pi 3.75 13X 
28 23V, TalEdPf 367 119 

33% 28% TolEd pi 4X8 13.1 
20% 161* TolEd pr 136 112 
IIP* 15% TolEd pl 121 112 
30 8% Tonkas .10 .4 


449 20% 19% 20 4- % 

25 20% 28% 28% 4- % 
15 29 28% 28'*— % 

12 77% 27 27 

15 3318 32% 32% — % 

4 1946 19% 19% 4- % 
10 18% 18% 18% 

574 25% 23% 24%— % 
28 53% 52% 53% 4-1% 


53% 36 TootRol 680 .9 15 28 53% 52% 53'- 4-1% 

26% 14% Trains 60 17 11 790 22% 22% 22% + % 

1BV* 10% ToroCo 60 23 11 102 18'* 1B% 1BV* 

S 1 Tosco 566 3% VO 3% 

17'", 7% Towle 6 7% 7 1 -* 71*— Ve 

41% 25'c> ToyRUs 25 4901 33% 32'* 33% 4- % 

28% 17 Tracrs J2 IX 11 2-u it*. 171, 17H— % 

23 81* TWA 353 22% 22V* 32% + % 

16 13 TWA pf 2X5 14X 347 15% 15% 15% 4- % 

341* 18% TWAP1B12S 6.7 26 33% 33% 33% — V* 

32% 24V. Tronsm 168 56 IS 4493 30% 2»% 30% 4-1% 


2lis 17% Iron Inc 233 103 BO 21V* 21% 21V* 4- v* 

14 11% TARItY 1X0 0.1 SB 4 12% 1?% 12%— W 

21% 16 TmCdonT.12 6.9 7 42 16% 16% 16% — V« 

57% 44 Transco 2.760 45 10 279 48% 47% 48 
66V* 53 Tmscpf 3J> 6X 100 57 57 57 — Vi 

74% 1 9'.* TronEx 2Ja 11J 413 21% 30% 21 

13'* S% Transcn 6 S3 T 6% 7 4- V* 

102 85V* TrG ol 10J2 10J 20:100% 100% 100% 

TrGP pf 864 VJ 100: »SV* *5% 95 V* 
TrGPpt 250 10X 3 25 25 25 

TmsOfi 12 325 IU« 10% 10% — Vi 


96 77% TrGP Pi 864 9.0 100: »SV* *5% 95% 

25% 29 TrGP Pf 350 IDO 3 25 25 25 

13% B% TmsOfi 1= 325 l!v« 10% I Oil — Vi 

47% 29V* Tronwv 1X0 4X 13 243 44% 44% 44% — % 

43V- 23% Trnwld 68 1J 14 1574 421* 4fl 41% 4-1% 

25% 12% TwIdwtA 234 24'.* 3Pi 23T* 4- % 

34% 27% TwIdPf 200 5.9 5 14 34 34 

49% 34% T rovler 2X4 4 J 10 5379 44% 43V* 44% 4-1 

58% 50% Trnv Pf 4.16 76 87 54V* 53% 54V* 4-1 


58% 50% Trav pf 4.16 76 ... 

27% 22% TrICan 3680 1X2 113 26% 26% 26% 

30 21% TrlCnpf ISO 95 1 26". 2i% 26% 4- V* 

28% 7%Trlains JO J 7 1a 8 3% 27% 27V. — l; 
341* 23 TrtdPc 1X0 3.1 10 3 32% 32% 32V. 4- V* 

49% 30% Tribune M JX 17 323 47% 46% 47V* + % 


6% 4 Trlcntr 
7% 5% Trim 

18% 12% Trlnrv 


51 B 9j 7 2 5% 5% 5% 

JO 11 13 169 6V: 6% 6% 

50 31 S3 13V* 13% 13% 4- % 


29** 14% TrllEno .10b 3 24 779 30% 29% 30 


17 9% TrllE Pl 1.10 66 

43% 31% TucsEP 3X0 7.7 9 

16V* 9V. Tulle, 68 XI 14 

20% 16 TwInDs .90 5.0 14 

41 30 TvcaLb XO ZO 11 . .. _ 

17% 13V* Tvlers 60 XO 12 113 13% 


118 16% 16% 16% 4- % 
145 38% 38V, 38V,— % 
42 15% 15% 15% Y % 
5 18 18 18 — V« 

178 39% 38% 39% + % 


59V* 39% UAL 1X0 XI 111 2229 49V, 48% 48V,— % 

34% 28 UAL Pf 260 7X 279 30% 30U 30*.— is, 

17% 10% UCCEL 17 46 15* 14% IS 

30 22% UDC n .ISe J 16 14C 23% 22V. 23 + V, 

24V* 1BV* UGl 104 96 11 70 21% 21V* 21 %— % 

25V, 20V* UGl of 2J5 11J IOC; 23'.v 23'A 23'A — VI 

11% BV. UNCRes 286 10V. 10% 10% — V, 

14 10% URS 60 36 13 32 11 11 IT' 

38V. 22% USFG 2J0 «X 51 TWS 36% 35V, 36% +1V4 

44% 26% U5GS 168 AJ 6 187 39% 38% 39% 4- % 

19% 12% UnIFrsf JO 16 12 5 14% 14% 14V* 

66 48 Unllvr 2.1 2e 3J 8 5 67 6SV* 67 Y2% 

UOV- 84% UrriMV 2.72e 26 IV 297 112'* 111% 113 -4-1% 

41V, 33% UCamo 164 46 15 678 35% 34% 35% + % 

64V. 32V. UnCart, 360 5J 3135 5«% 58% 58% — % 



55% 35V* Xenix 3X0 6.1 13 2460 49% 48% 49 + % 


55% 48% Xerox P> S6S 10X 


6% 4% UnionC 


3135 5*% 58% 58V* — % 
138 5?* 5V. 5V1 — % 


3 54% 54% 54V* — Vs 
11 22% 22% 22*%— ’a 


19V* 13% UnElec 1X4 9X 6 1483 19 18% 18% + % 


38 27 UnElpf 4X0 116 

34% 26% UnEIP(M4Xa 1X9 
32 21 UnEtPl X9S 116 

20% 15% UnEI of XI3 1X9 
72 55 UEIPfH 8X0 1X1 

34 22 UnExp n 


300: 34V, 34% 34% + % 
26 31% 31 31 

93 26% 26 26V. + U 

15 19% 19% 19% + % 
200: 66 66 66 +1% 
105 23% 23% 23V- + h 


30% 24% ZoleCo 1J2 4X 12 
18 7V, Zopdto .12 IX 55 

57% 32% Zovre s 68 .9 17 

25 16V. ZenlthE 844 

21V* 15% zeros -32 16 17 


J2 4X 12 B 27% 271* TTm + V# 

.12 IX 55 145 7* 7% 7%— % 

68 .9 17 1B3 55V* 54% 55 + % 

B44 787 17 16% 16%—% 

J2 16 17 261 20% 19% 20 


53 L 37% UnPac 1X0 36 12 3574 49% 48% 49% + % 


IIS’* 87% UnPcpf 73S thS 

70 50 Unnrl pf 8X0 12X 

5V, 3 UnltOr 

23% 10'- UnSmd 11 

1A 9% UBra pf 
33% 17% UCbTVs .10 J 49 

43 22% UnEnre 268 56 32 

24% 13V* Ulllum 2x0 87 4 


(X 293 112 110 111 +1% 

'J3 137ft: 66% 66 66% +1 

34 31* 3 31* + % 

II 61 21% 21% 21% + % 

2 17 17 17 + V, 

J 49 125 30% 301% 30% + % 

iX 32 45 43 42% 42V. 

L7 4 205 23% 22% 23 — ’4 


37V, 23% Zumln 1J2 3X 13 130 35% 34% J4%— % 


NYSE Highs-Ltms 


AMEX Higlis-Lm\s 



NEW HIGH5 16 


ArnTrEsor 
Everjn A 
Penno8ras 
Vairni 

Blessings » 
FrantierHold 
SmlthAO B 
Walbar 

CanmiGpwi 
Now Proc 
SteptmChm 
WescoFIn 

Claramonf 
PennTrf 
SuperFd 
Work Wear 


NEW LOWS 16 


Armeis 
CasilecvFo 
HornHar wt 
Placer Dv s 

Block Ena 

Champ Ha 
inflight Svc 
Sbarron 

CSS ind n 
GemcoNatl 

Jump Jack n 

SterroSang n 

Cssablan 

HHmResc 

NewbryEng 

Susauehan 


Allen Gp 
& wiefl50f 
ClevEI PfL 
EIPasGsdpf 
Gao Inc 
Housinl237 
Kellwraod Co 
MCA Inc 1 
Newtusll 
Pr I mark 
RussToss 
Svntex 
Varco 2Pf 


Acme Clev 
Emhanpf 
«LN Enun 
MCorp 
Rock Centra 
WstCaNA 


AmBdcst 

Chevron 

CrovRsdis 

EmpDE »IA 

Gen Food 

ITT CP PlJ 

KeyitCon 

MovDSt 

PaPL342pr 

Radio 

Southland 

TrlionEnav 

WestatiEi 


ANRfctifld 
aimmaliv 
Down ey SL 
FedlCo 
Gillette Co 
JerCeP ilpf 
Leap Platt 
iWavtoo 
PhMVanH 
RederchCtl 
Soiithlnd pf 
UnlleverPIc 
WlycGaspf 


vIBckerlndp Carling 0 
GF Corp Gearttind 


Kenmntl 
Muntara 
Smith 1 nil 
WstCoNA pf 


Leoronol s 
Nashua Cp 
T exComBn 


AIIRtl280Pf 
Chroma) pf 
Dreyfus 
FederDStr 
Gallon Ind 
KDI Cp 
L illy Ell 
NolGvpsum s 
Polaroid 
Revlon 
SldOllOh 
Unlievr Nv 


ElTarlto 
ip Timber n 
LomoSMtgn 
Quanex 
Vestron n 


ADVERTISEMENT 

N 2 ERNATIONAL FUNDS (Quotations Supplied by Funds Listed) Oct. 23, 

Net asset value quotations are supplied by the Funds listed with me exception of some quotes based an Issue price. 

The marginal symbols Indicate frequency of qpohrtlon* supplied: Id}- daily; Cw) ~ weekly,- (b)-bi-monfbly; Jr) -regularly; (i) -Irregularly. 


AL MALMANAGEMENT 

-Iwl Al-Mal Trust. XA 

BANK JULIUS BAER & CO. Ltd. 



. S 11X7 
SF B6X5 
. S 16X4 
. S 14X3 
. S 1«X4 
S 10562 
. 1 173.90 
. 9103468 


■fef I Baer bond SF 899X0 

-1 C 1 Conoar SF 1239X0 

-f a 1 Eoulbaw America S 1148X00 

-I 0 1 EoulDOor E urope SF 1314.000 

•f d I Emjibdir Paclllc SF 1192X0 

-Id 1 Grate r SF Win 

-Id) Stackbar SF 153X00 

BNP INTERFUNDS 

■lw] Inlenxmd Fund S 125X6 

-tw) I nler currency US5 S 10.11 

-lw) Inter currency DM DM 3035 

-Iwl Intercurrencv Starling C 10.18 

-lw II nterequitv Pocitlc Offer S 10X6 

-Iwl intcrequifv N. Amer. Offer — S 10.14 
BANQUE INDOSUEZ 

-Id) Aslan Growth Fund S 11X7 

-Cw) Piverbond - SF 86X5 

-lw) FiF-Amerlca — S 16X4 

-lr/1 FIF-EutaPe - S 14X3 

-lw) FIF-Padflc S 19X4 

-f d I Indosue; Mulllbonds A S 10562 

-{ d llncsosues Multlbonds B * 173.90 

-fdl IndasuexUSD IMJA.FI ___ 9103468 
BRITAN N I A-POB 271. Si. Heller. Jersey 

-lw) BrlLQollcr Income—, ... 5 0X86' 

-Iwl BrltJ ManaB-CuTT___ S 10.16 

■td> Brit. mtlX Manopj*>ri!™_— S 1.134 

-fdl Brit. Intlx Manog.Porll t 116.1 

-Iwl Brit. Am. lna& Fd ud„ s l.iov 

-Iwl Bril. Go Id Fund 5 0682' 

-Iwl BriWAanoo-Currency — s I4J2* 
-Id) Bril. Japan Dir Perl. Fd— S 1.140 
-fw) BrltJersev Gill Fund— _ C 0J27 

-fdl Srit. World Lels. Fund S 1 .166 

-I d 1 Bril. World Teefin. Rind S D.721 

CAPITAL INTERNATIONAL 

•iwl Casual Inn Fund $ 42X5 

•|w) D'Pllol Itfllio SA - 5 17J7 

CREDIT SUISSE (ISSUE PRICES) 

-Id) Actions Suisse* SF 4UX0 

-Id ) Bond Valor Swf SF 109X5 

-fdl Bond Valor D-mork DM 114-25 

-( d 1 Send voter U5-DOLLAR S 174X5 

-Id 1 Band Valor Yen Yen 11129X0 

-IS) Convert valor Swf SF 122J5 

-fdl Convert VDlor US- DOLLAR, t 127J2 

•idlCanttsoc — SF 673X0 

-IdlCS Fonas-Bonifc- - . . SF 7853 

-I d i CS Fonds-lnri SF 114X0 

-Id) CS Money Market Fund 51095.00 
■Id) CS Money Market Fund— DM 1057X0 

-I diCS Money Market Fund. 11036X0 

* -Id J Energle-vnlar SF 146J5 

•Id) Ussec . - SF BD1X0 

-fd) Eurooa-VOlar_^_ SF !7aXo 

-Id) PdCfllC -valor SF UdSO 

DREXEL BURNHAM LAMBSRT INC 
Winchester House. 77 Lond on wall 
LONDON EC2 fOI 92097971 

■fw) Finsbury Group Ltd 5 126X4 

-lih) Winchester Dive rallied... J 19X6 

-lim winchester Finenekii Ltd.— 5 9J9 

-(ml Winchester Frontier V lOOJft 

•|w) Winchester HoWIng5_ FF 1O&20 

S 1265 

-fw) worldwide Securities 5 48X9 

-(W) worldwide Saectei 5 17D8J1 


US* Futures 


Season s«men 
Hloti Lon 


OH 23 

Open High Law Close Ch*. 


WHEAT CCBT1 ^ 

is S SI SPSS 

3^% za as* *s ta ML Ixo rn 

<iic ■! j,7 cjhj 192 2.92 ZJtUVJ — vou* 

3K IN* NC Ul ±of Ml Ml -4»97 

E9I. Soles Prey. Sales. JMS7 


2.90% 190% -X0% 

Ml Ml — X0% 


Pn*v. Day Open Ini. _ 3M07 off 143 

SXOObu minimum- doltarspyr hahej 
ITS 2.14% Dec 2J4V. JX4V 


2.97 
2.91V. 
2X6 
2-70 
2J5% 
2.74% 
Esi. Sales 


fivTUtt. M2 2J2V* -xa% 
224% Sar 2J5V. 2J6% 234% 134% — X2% 

j3i May 26? 26216 M% 260% — 

233 Jul 2.43V* 2J4Vi 262% 262% — 03 

iSv* Sep 131 2J1V. 339 V 2 129% —X3 

2JOU D«. IM 1 - M7V4 2JS% 125% — X2% 

SS? 235* 2J6 MS 2JS -J»% 
Prev. Sates 31,974 


Prev, Day Open Int.lZBXOl up 1.309 

SOYBEANS (CBT) , 

5X00 bu minimum- doilars oar buatw 
66ft 4.97% Nov 5X8% S.0SV* 


HOGS(CME) 

44(5 46J0 46J5 4475 —30 

SS S* ii70 45JB 4560 -^15 

stjg je ag S3 as ££ 

fM H S S 2 a » 

xi:” aw Ort £§ 4035 "40.10 «-1| 

49X0 3157 ^ ^axo 40X0 40JM 40X0 

PORK BE LLIE S tCMEJ 

auWtta.-ewtawr^ ax tsn UM UM -1^ 
’IS 556S MOT 64.10 65^ Wg 

5x2 ss 3^ SSS SS as ^ = 1 

73.15 59X0 Aug 63.90 0X0 6260 63X5 —16* 

ESI. Sales «06 Prev. Sales M66 
Prev. Day Open in t. 7612 up 13ft 


144.10 148JD I4M0 147.10 +3X0 

14765 14935 14735 J4ft« «X3 

147JD 149X0 M7JS WB +1X1 

148X0 7 49 JO 148X0 I48J5 +1J5 

14860 149X0 14860 14965 +1X0 

148X8 +1-75 
IA7S +235 

lain U41 
00 up 234 


US TREASURY BONDS cam 
iftDcr-sinuoiMssXMs^ iapBc« 


75*13 

474 

Dec 

77-13 

77-15 

77-29 

57-2 

Mar 

7S-W 

76-7 






75-31 

56-29 

Sea 

73-12 


74-74 

56-29 

Dec 

73 




Mar 

n-i* 

71-30 

74-26 

63-12 

Jot. 

70-26 

71^ 

73-77 

<24 

Sea 

70-3 

79-1* 

77-18 

69-27 

62-24 

S7. 

Dec 

Mar 

69-15 

69-36 

*9-50 
EsL Sale* 

664S- 

Prew, fcd#*l79,304 

pmv. Dav OseRlnL2S&»9 UC 9.619 



SUGARWORLD 11 (NY CSCE} 


7.79 

6X8 

674 

638 

632 

563 

Est. Soles 


MOT 5J5 135 

May 563 565 

Jul 5-50^ 5 XT' 
AUO 569% JXI 1 * 
SeP 5J7 539 

NOV 535 535V 

Jan 

Prev. Sates 326T6 


5X4% 

5-IU+i _X*% 

7.75 

100 

Jflfl 


547 

5,40 

439 

541 

— XS 







546 

533 

548 




541% 

-X3*- 

649 

339 

Jul 

SM 

5.90 

537 

577 



549 

—34 

640 

434 

Sep 

6JS7 

6X7 

6X7 


— J3(\ 

948 

548 

— X3% 

635 

4X2 

oa 

630 

633 

609 

6X9 

— X9 

S34 

53* 

— 03% 

735 

435 






— JW 

532% 

532% — v03*k 

7XS 

441 

Mar 







Prc*. Day Open int. 74X64 */n 1614 
SOYBEAN MEAL (CBT) 

100 tons- dollars pi 


Esi. Sales Prev. Sates 5X91 

Prev. Day Open (m. 78340 up 807 
COCOA (NY CSCE) 

10 metric tans- S per tan 




W9 JM 149X0 —1X0 
14BX0 148X0 —JO 
jan 150X0 150X0 148X0 148X0 
Est. Sales Prev. Sales 1MB 

Prev. Da v Open Int. 43.137 ualJ62 
SOYBEAN OIL (CBT) 

60X00 ibs- dollars per lOOIte 

29X5 19.03 Dec 19X7 19X4 1961 1968 —31 

2 9JP 19J8 jan 19.97 20X2 1965 1965 — JT 

2860 1«68 Mar 20.10 3£L2S MX1 20B 

77.45 20.07 May 20X2 2060 2060 2060 —M 

25.25 2065 Jul 70X7 21.10 2075 20JS —33 

25.15 20X0 Aue 20X5 21.15 20X0 20.90 —.30 

24X5 20X0 Sep 2067 20.95 2067 2067 — 33 

2T35 2068 Dec 20X0 20X5 2060 2062 —.18 

Est.5ales Prev.Sales I5J36 

Prev. Dav Open Ini. 46612 off 1X02 
OATS (CBT) 





2337 

1945 

Dec 

2175 

2175 

2160 

2164 

—18 

14340 

14340 

—.70 

2392 

I95S 

Mar 

22*0 

2260 

2245 

2250 

—13 

14440 

14430 

— 40 

2422 

I960 

May 

2302 

2303 

-2296 



146X0 

14630 

—40 

2429 

I960 

Jul 






1*8.10 

14830 

-40 

3430 

2023 





2345 


150X0 

15040 

—40 

2425 

205S 

Dec 

2350 

2350 

2350 

2350 

-as 

14940 

150X0 

—40 

2385 

2029 

Mar 



2360 

-as 


Est. Sain 2X48 Prev. Saws 1.907 
Prev. Day Open Ini. 20*921 up 111 
ORANGE JUICE (NYCE1 
154100 1056 corns Per lb. 

1B1J» 11760 Nov 11730 117X5 117.10 11735 — 1X5 

180X0 114J5 Jan 117.10 117X5 117X0 117J0 —JO 

177X0 11X75 Mar 115X0 117X5 116X0 116X5 +35 

182X0 111X5 May 11635 117X0 11630 116X5 +1X5 

157X0 11160 Jot 11460 11460 11460 114X11 +60 

180-50 mxo Sm> 11335 +135 

iiixo mxo nov mas +>3S 

. Jot 11333 +135 

16133 111X0 Mar 11175 +135 

| Est. Salas 500 Prev.Sales 690 

Prev. Day Open InL 5,184 off 34 


7S47 7W8 
74-13 7+2S 
73-13 73-23 

72-15 73-34 


GNMA ffftTI 

sioaowprto-M & mfttf Mvci _ • ■ 

79.10 59-4 Dec 7S-M 29-3 W-l* 7J5 

71-10 9930 Mar 77-T* 77-» 1M —1 

77-17 58-25 JOT 7M JM1 77-3 7711 — J 

76-20 63 5CS 78-I7 —4 

Est. Soles Prev. Sates 319 
Prev. Dav Open InL 4,168 up d 
CERT. DEPOSIT (1MM ‘ 

92.15 92.15 9Z0.92.n-X2 

91X6 ma Mar 9130 91X0 91X0 91X2 ^X1 

9160 8663 Jen 9164 9164 *164 9164 — Jtt 

91.15 87X6 Sm> 97X! 

90lS RLJ4 Dec 9W5 

9025 MM Mar 9064 

EsL Sates _ » preyjSaies 42 
Prev. Day Open InL 1X52 up 12 

EURODOLLARS UMNO 

SI mliUaPHNsaf lOOpcL • 

92X0 84X0 Oac - 91-77 9LH7 91.77 91X2 —all 

91X7 66.10 Mar 7153 91X4 9165 «X1 

91.19 6633 JOT 9L77 91.W 91X9 91.M 

MJ4 87X0 6eP 90X3 50X2 96J3 9039 

*aS 038 Dec 9062 9062 «MS 

«L34 064 MOT TO.U 90.16 M« JMJ 

09X5 8B84 ' Jot >9X5 89X6 >938 »XS 

8966 039 Sep WX9 0X9 052 0X9 

ESL Series 32369 Prev. Sate* 31 307 
Prev. Day Open lnt.124350 upIXU 

BRITISH POUND (IMM) • - 

1 per pound-! paint equals SOXOOl . . - 

1.4295 1X200 D*c 16260 16315 LC30 +5 

1.4310 1X600 Mar 16175 16200 I6W0 16150 +5 

1.4288 U905 Jun 16050 16050 16050 16B75 +5 

Esi. Sates 3X06 Prev. Sales 6*796 
Prev. Day Open lot. 26347 up 640 . 

CANADIAN DOLLAR (IMM* 

Sperdfr-1 potnl equals moooi 

.7566 3006 Dec 332* .7332 J323 JKOS —3 

.7904 XWT Mar Jllft .7316 .7315 -J 

J360 7070 Jan 3305 3385 J*S 3OT3 — J 

3300 3174 Sep 3290 —2 

Est. Sates 317 Prev. Sates « 

Prev. Day Open InL 4*887 on 83 
FR1NOI FRANC (INUW m 
S per franc- 1 potet eaoafs SOX0001 
.mm mm Dec .1241 a .12410 .124 10 .12410 

.12400 .10915 Mor .1 2B«8 

.17180 .12130 Jim -12270 

Est, Sales 4 Prev.Sate* 1 
Prev. Day Open Int. 139 ua) 

GERMAN MARK (IMM) 

Sper mark- 1 point etwais SOX001 
3857 3971 Dec 3811 3826 3804 3811 — ? 


Me tats 


JB67 

3971 

Dec 

J888 

JM 

Mor 

3918 

X33S 

JOT 

4920 

3762 

Seo 


5X00 bu minimum, dollors per bushel 

1.17V* 

1.18 



Dec 1.18% 





138 U, 

136% 

13M 

743 

1X7% 


134 

132V* 

1X2% 

137 

136 

Jul 1X2 

133 

1X2 


7X9 

139 

5ep 




Est. Sales 


Prev.Sales 

193 




COPPER (COMEX) 
25X00 lbs.- cents per tt>. 


Prev. Day Open Ini. 3.943 UP 13 


J Livestock | 

CATTLE ICMEI 

40X00 lbs.- cents per Ux . „ 

47.85 55.00 Dec AS 65 6535 65.15 6562 —35 

67.45 5435 Feb A2J7 62X5 <265 —37 

SIS! 53.3® Apr 6135 61-37 *130 —32 

6635 5625 JOT 6135 61.75 *132 610 —JO 

<560 5530 Awfi 59X5 59.90 59X0 59X0 —OS 

6060 56.10 Oct 5835 58.?fl SBXO 58X5 —.15 

65.30 60X0 Dec tOJ 6020 60X5 6005 — X5 

Est. Sates 17334 Prev, Safe, 19X61 
Prev. Dav Open Ini. 59X36 up 1397 
FEEDER CATTLE (CM El 
44.000 lbs.- cents per lb. 

7330 50.10 Nov 65X0 6635 64.97 *535 — XS 

79X0 60-50 Jan 68XB 49.05 <735 68X7 —43 

7130 60X2 Mar 6528 fiOJO teas 6BX8 — X5 

71X0 *0X0 -APT 48X0 4850 47X0 48X0 — 50 

7800 40.10 MOV £7.10 67.10 64X0 46X0- — XO 

68-50 4535 Au« - 67X0 47X0 47X0 67X0 — X0 

Esf. Safes 1340 Prev. Sales 1,137 
Prev. Day Open Int. 9X33 up 73 


Currency Options 


PHILADELPHIA EXCHANGE 
Option A Strike ' 

Underlying Price Calls— Last Pti 

Nov Feb May Nov Feb MOV 
12X80 British Pounds-cents per unH. 

BPound 135 r S S 0.15 

14336 140 3X5 s S 0.«0 

14336 145 135 s s 3.10 

14336 150 035 S t r 

62300 West Gentian Moricvcnits per ealL 
DMaTk 17 1.12 s s 0.18 

37.95 38 r s 1 OS3 

37JS 39 030 S S f 

4350X00 Japanese Yen-toothsef a cent per unit. 
JYen 45 r 9 # zio 

46J9 46 036 s S 0X0 

4639 47 029 s s r 

46J9 48 ft.10 s 9 r 

*2X00 Swiss Frcncs-cents per anlt. 

SFranc 43 r a s 0X3 

Dec Mor Jim Dec Mar Job 
12XS® British Pounds-cents par ontt. 


61X0 

5845 

Oct 




6230 

+1X5 

6040 

6040 

Now 




6250 

+1X5 

0435 

5840 

Dec 

6220 

63Xft 

62J5 

6250 

+1X5 

8430 

58.75 

Jon 




*2(0 

+1X5 

soxa 

9930 

Mar 

62X5 


6X80 


+55 

74X0 

60X0 

May 

6X15 

6X75 

62X5 

6175 

+50 

7440 

6035 

Jul 

6330 

6C00 

63X0 

64X0 

.+.90 

7040 

6040 


6X90 

6430 

6350 

6*30 

+.90 

7030 

6140 

Dec 

6445 

6430 


64X5 

+.90 

70 an 

6330 

Jan 




65X0 

+50 

6740 

6245 

Mar 

65.10 

6530 

65.10 

4540 

+55 

67X0 

6240 





6575 

+55 

Man 

6125 

Jul 




66.10 

+55 


3140 33X0 1 

2110 23.15 21X0 
f r r 

1340 13J0 r. 

r 930 r 

• 455 ---6J0 - t ■ 
1X5 4X0 r 

030 2X5 r 


0X5 r 
035 1X5 

0X5 3X0 

1X0-430 
4X0 735 


Est.Sales Prev.Sales 4X00 

Prev. Dav Open in). 77X91 up 395 
ALUMINUM (COMBXS 
40X00 ibs.- cent 5 per lb. 

Oct 4285 +.10 

Nov 255 +X5 

70X0 43X5 Dec 4110 *135 4110 4335 +X5 

74X0 4430 Jan • 4330 +XS 

73X0 4*20 Mar 4430 ■ *430 4430 4*45 +X5 

6435 45X0 May 45.15 +JH 

63.45 4530 Jul • 45X5 +X5 

52.10 4630 SCa 

0.10 4835 Dec 

Jon 4735 +X5 

Mar 48X5 +J05 

5335 5135 May 4935 +XS 

5030 50X0 Jul 90X5 +XS 

Est.Sales Prev.Sales *6 

Prev. Dav Open Inf. 1JU0 affZ* 

SILVER (COMEX) 
sxoo troy ol- cents aer fcrov at 
646X 598X Oct 615X 41 5 X 615*5 617.1 -15 

Nov 61BX -OB 

1Z30X 590X Dee 626X 6Z7X 621 X 6323 — 3X 

1215X 59SX Jan USAS -18 

11910 607X Mar 636J 638X 6345 6353 —38 

10488 619X MOV 6419 —18 

VCX 42?x Jul 653.1 —IB 

94011 621 X Sep 6638 —38 

799X 452X Dec 67VX 6815 679X 678.1 -38 

70X 678X JOT . 6814 

770.0 6100 Mar 6950 6950 6950 5930 -30 

752X 6S3X May 705.1 —30 

746X 699X Jal - 7T6X —30 

Est. Sates Prev.Sales 19073 

Prev. Day Open Int. 83053 up S3* 

PLATINUM (NYME) 

50 Irovai.-aollurs perfroyOL 

393X0 250X0 Oo 336X0 340X8 336X0 336.10 +200 

373X0 25750 Jan 338X0 34250 33750 340.10 +280 

357X0 26*50 Apr 344X0 34400 339X0 341X0 +1X0 

363X0 273X0 Jut- 345X0 3*5X0 345X0 344.10 - +X0 

360X0 30350 Oct 348X0 348X0 348X0 347J0 ‘ —JO 

Est.Sales Prev.Sales 5*97* 

Prev. Day Open Int. 12575 up*3* 

PALLADIUM (NYME). - 
HW Sroy ar- dollars per oz 

141X0 . 91X0 Dec 10*00 10*75 10*80 104.1 D +50 

12750 9L7H Mar 10525 105J5 105X0 105.10 +50 

114X0 ■ 91 5 JOT 106.10 ■ +50 

.115X8 97 30 Sep S 07.10 +-9G 

i37x0<- 104X0- Dec . 108.10 +50 

Est.Sales Prev.Sales 65* 


Esf. Sale* 14,149 Prev. Sates 1*6*3 
Prev. Day open 1M, *S552 oft 5M 
JAPAmSB YBNflMM) - _ 

S per yen- 1 point egwrts S8X00001 
X04738 X0390S DOC XO«443X0*669 50*640 X04443 —9 

XO4750 XHOS MorJ»4671jn467IX04663X0**65 — « 

,00*765 X04220 JOT X04703 X047B3 X04693JXH6V3 —7 

00*800 X04705 SOP XM727 X04727 80*727 X04727 —7 

004S45 AMISS Dec JXM758 JMM758 X0475B A047SB —9 

Est.Sales 7530 Prev.Sales 8*5*0 . 

Prev. Day Open ltd. 39X98 oH3589 
SWISS FRANC (IMM) 

Spar franc- 1 Brim equals soxaOl 
*728 J5J1 Dec MM jxn MB M*5 —10 

j*777 -3635 Mar .4493 Am M7f .4685 —10 

,4800 .4190 Jon A3S2 ,4232. ATM .4735 — 5 

Est. Safes 1*258 Prev.Sales 12344 
Prev. Day Ooen Int. 30X39 up 593 


Industrials 



rrr 


"tT’ 


nr. v i 










5aaoo Canadian Miars-cente per unit. 

CDallf 71 r r r 0X5 r r 

73J0 73 057 r r ®riO r r 

7330 74 r r r 1X2 r t 

62500 West German Marte-cents per enll. 

DMark 31 7X3 r r r 0X3 r 

37X5 32 r r • r r 0X6 r 

37.95 34 4XC 432 r 0X3 t r 

37.95 35 3X4 r r r r r 

37.95 36 218 277 r 0.18 0JS2 f 

37.95 37 0*0 113 r 0*1 0X8 t 

3755 M 0.90 151 r 078 r r 

37.95 S» B.48 1.16 133 r 1X5 f 

125X80 French Freetcs-lOffii of a cent per unit. 

FFronc 100 24X0 r r r r r 

12*35 no l*J» r r r r r 

12*35 120 5X0 r r r r r 

L250AM Japanese Yen-iooms of o cent per unit. 

JYen « 630 r r r r r 

*639 *2 *49 r r 0X1 r r 

**39 43 r 170 r 0-ffi r r 

4639 44 r r r 0.11 r r 

*63S 45 U0 r r. r r r 

*639 46 1.10 159 r r 1X3 A 

4639 48 028 0X4 r r r r 

62580 Swiss Pnmcs-cenfs per unit. 

SFranc 38 833 r r r r r 

*638 39 730 r r r r r 

*6-28 40 638 670 r T r T 

*638 41 539 r r r r r 

4630 43 r r r r r 070 

*638 4* r r r r 074 r 

4638 *5 1X7 r r 058 1X4 US 

4638 46 132 113 r r 139 r 

4*28 48 0.44 138 r r r r 

Total call vol. 7,195 Call open InL 1KVU9 

Total put val. 4,1 HI Put open hit. 177739 

r— Not traded, s— No option offered. 

Last Is premium (purchase price): 

Source: AP. 


-Prev. Day Ooen Int. 6X28 up 10*. . .... . 

j GOLD (COMEX) 

1250 TOO troy ot- dollars per trovoz. 

493X0 297.00 Oct 32630 32630 32630 32630 —.70 

f 32430 320.00- Nov 327X0 —130 

r 4050 301.58 Dec 33OX0 33030 32B.10 329.® — 1.1B 

r 48550 306X0 Feb 33350 334X0 33250 33330 —1.10 

496X0 31470 Apr 337X0 IT770 337X0 337X0 —1.10 

r 43570 32030 Jun 3*170 3*170 34170 3*170 —1.10 

r 42040 331.00 Aug 3*6-30 — 1J88 

r 395.7® 335X0 Oct 351.10 — LOO 

r 393X0 342X8 Dec 355X0 355X0 355X0 355.90 —1X0 

f 38840 355X0 Apr 36670 —1X0 

r 0450 • 3es.ss JOT 372X3 — X0 

t 385X0 378.10 Aug 377X0 -%90 

r Est.Sales Prev.Sales 3*778 


Prev. Day Open Int. 125X17 up6I1 


US T. BILLS (IMM) 

SI million- pts of 106 pct. 

91X7 85.77 Dec 92JD 92.97 9286 .92*90 — JD 

9271 8*60 Mbr 925B 9266 92X0 926* —SI 

92J6 8/XI Jan 9229. 9229 9226 9739 —XI 

92X1 88X0 Sep 9176 91X6 91X3 91X5 -X2 

91.78 89X5 Dec 9153 9155 *152 91A* — X3 

9150 8958 MOT 9154 - 915* 915* 9156 —A3 

91.16 9050 Jun 91X9 91X9 91-09 91.Il — A* 

90X4 90X4 Sap 90X1 90.91 90X8 90X4 . 

Est.Sales 4.999 Prev.Sales 4563 
Prav.DoyOpen Int. 40X31 up 231 


Stock Indexes •• 


SF COMP. INDEX (CME) 
points and cent* . • . 

X»X5 11570 DOC 18825 18950 IWJft W920 +125 

20375 18130 MOT 189X5 190X5 189X5 1WAS +175 

20650 mm JOT 19170 192X0 19075 19270 +LH 

193X0 187X0 SeP 19350 19250 19250 19375 +1XS 

Est. Sates Prav.Satas 57.967 

PreV. Day Open InL *1592 off U54 
VALUE LINE IK CBT) 

.points and cents .- ' . 

217X5 18860 Dec 1K40 mxo 19*70 +50 

■W9.40 19058 MV W8.W 19673 T95J0 19*70 +58 

19770 .197X0 Jgn. . . •• • 19870 +X0 

EstSates Prey. Safes 5*121 . 

Prev. Day Open Int 7X74 up 7790 . 

NYSE- COMP. INDEX (NYFE) 
points and cents . 

T1720 1BL2D Dec 1»W 10955 10845. 1095B +70 

11875 . 105-50 Mar 109*45 1WJ0 10970 11025 +75 

120X0 106X0 JOT 11050 1ID40 11020 11120 +5® 

1IZ2B WRIO SeP 111X5 TIIXS 111.15 IUX5 +53 

Eif, Sates 8622 Prev. Sales 9X22. 

Prev. Day Open Int *331 off 39 ' 


r 

r 18 YR. TREASURY (CBT) 

US SI 00X00 prln- pts ft32ndsal lOOpet . _ 

r 07-13 75-13 Dec 87-3 87+ 86+8 06-28 —1 

r 86-4 75-14 Mor 85-18 B6-2 05-17 85-26 —1 

**«» 85-7 74-30 Jun B+25 8+28 8+25 8+3J . —2 

739 8+4 80-7 Sep 82-3S —2 

83-11 . 80-2 Dec 83J 53-7 B3-3 8M —2 

Est.Sales Prev.Sales 11,427 

Prev. Day Open Int. 67408 off 637. 


Commodity Indexes 


Close 

Moody's 903.00 f 

Reuters— 1703-20 

DJ. Futures — . NA 

Com. Resrarch Bursau. ~ NA. 
Moody's : base 100 : Doc. 31. 1931. 
p - preliminary; f- Anal 
Reuters : bass 100 * Sep. 18, 1931. 
Dow Jones : base 100 : Dec 31, 1974. 


Previous 
90040 f 
170150 
118.99 
223*30 


-|w) Winchester Hofdlnga FF 10*20 

S 1245 

-fw) worldwide Securities ___ S 48.09 

-tw) Worldwide Seedoi S 179*51 

DIT INVESTMENT FFM 

-+l d 1 Conccnlrd — - DM 3*31 

-+I d ) mn Ren ten tend DM 91X2 

Dunn a Hargllt 6 Lloyd Gearge, Brussels 

■{ml D&H Commodity Pool *338.00 — 

-(ml Currency & Gold Pool S 16744 “■ 

-iml Wlncn, Life Ful. Pool— SS56.90 — 
-(ml Trow World Fuf . Pool _ * 730X3 *■■ 
EBC TRUST CO.f JERSEY) LTD. 

1-3 Seate SLSt. Heller;053*-34331 
TRADED CURRENCY FUND. 

f t a j Inc., bio — s 1824-OMer _ — S10557* 

I d ICap.: Bid S 1178 Offer.— ,512X71 

INTERNATIONAL INCOME FUND 

-I d 1 Shan Terra ‘A- iA«un)— . * 1 5061 

•10) Short Torm 'A’ (Dl&irl S 1X063 

-I d> Short Term's - 1 Accuml - * 1X682 

-Id) Snort Term 'B' iDlerr) * 0X441 

•Iwl Lone Term- * 2576 

FftC MGMT. LTD. INV. ADVI5ERS 
1. Laurence ts ‘3w' rt '‘ HIIL EC4.01+ZM6M 


DM -Deutsche Mark; BF • firiglum Fronca; FL-Duich Florin; LF-L 
Piv SIQ to si per unit: N A. - Nat Available; N.C ■ NafCommunteaied, 
Redembi- Price- Es-cotmon; Fonrwriv Waridwlde Fund Ltd; 9- 



Com&ities 


Oct 23 

Close 

High Low Bid Ask cvge 

SUGAR 

French francs per metric ten 
Dec 1X60 1X45 1X45 US) +S 

Mar 1X78 1X60 1X63 1X65 +2 

MOV 1400 1X95 1X90 1X95 — 1 

AOT- 1458 1450 1435 1440 +2 

■OdK N.T. N.T. 1460 1470 +10 

Doc N.T. N.T. 1480 1490 _+5 

Esf. val.: 2X00 lata at SO tans. Prev- actual 
sales: 1X16 lots. Open Interest: 23X52 
COCOA 

Fraodi franc* par TOO kg 
Dec 1X55 1,955 1X46 1X58 —8 

Mar 1X84 1XB4 IX» 1X82 —10 

May N.T. N.T. 2305 — Unriv 

Jly N.T. N.T. 2X10 — UndJ. 

Sen N.T. N.T. 2X15 — Uncty 

Dec N.T. N.T. — 2X5D Undi 

MOT N.T. N.T. - 2X50 Undv 

Est. vaL: 16 lots of 10 fare. Prev. actual 
sates: 57 lofs. Open Interest: 562 
COFFEE 

French franc* Mr M8 ks 
Nov 1X63 1460 1451 1JM +18 

Jan N.T. N-T. 1X02 TiW0 +5 

Mar . N.T. N.T. t.940 1X60 +5 

May N.T. N-T. 1.900 2X00 +10 

J|y N.T. N-T. 2XT0 ■ 2430 + M 

Set) N-T. N.T. 2«C — 

Nov- N-T. N.T. 2XM — — * 

Est vaU 17 kris at 3 tons. prev. actual totes: 
3 tots. Open Interest: 291' 

Source: Bonne au Corrmrcc. 


London Metals 


London 

Commodities 


Cash Prices 




(MB 

SUGAR*** ^ BW « 
Stortteg par metric ton 
Dec 13770 136X0 137X0 138X0 
Mar 148X0 145-BO 147X0 1475® 
May 13) X0 150.00 15040 150X0 
AO f N-T. N.T. 156.60 157.00 
Oa 16240 16240 162X0 16240 

Volume: 6)5 fata of 30 ton*. 
COCOA' 

Storthtg pot metric ton 
ȣ 1X11 1499 1498 1X00 

!S2C 3-S? H 38 w*o ij4) 

MOV 1X76 1X65 1X65 1X66 

» as ai' 

Volume: 1X39 lota of lo too*. 

COFFEE 

Storitag per metric ton 

1^0 1440- 1460 1463 
1X12 1470 1X03 IJ04 


Previous 
DM A*h 


136X0 13740 
146X0 14670 
14940 149-00 
155l80 15670 
161X0 16140 


1X05 1X06 
1X45 1X46 
1X71 1X72 
1X94 IJ96 
1X13 1X14 
1X0* 1X0S 
1X08 1X15 


ConunadUir and (nut 

Coffee 4 Smtas- f h 

PrintdoHi 64/x 38 %. yd 

Steel bill »ts (Plnj.tan 

Iron z Fdry. Pima, tan 

Steel scrap No 1 hvy pm. _ 
Lead soot, lb - . 

Cooper eted. lb 

Tin f Straffs). ft) •_ ■ 

Zinc. E. SI. L. Basis, lb 

Pol ladlum, ax ^ 

Silver N-Y.oz - ' 

Source: AP, 






Previous 

BW Ask 
EH£22x° 
338X0 mm 
330X0 332X0 
K4X0 336X0 
: ; M 340X0 
342X0 344X0 
3*7X0 349X0 


D\1 Fiitos 
Options 

W COTWB 6te« J2M8»iflNa* cents eer mart 



HONC-KONG GOLD FUTURES 

UA* pot ounce 

Oose 

Wot) Law Bid Ask 
Oct _ N.T. - N.T. 3Z7X0 329X0 
Nov _ N.T; N.T. 329X0 331X0 
Dee _ N.T. N.T. 338X0 332X0 
Fab _ 335X0 3^X0 W00 336X0 
Apl _ 339X0 339X0 338X0 340X0 

Jun N.T. N.T. 34JJH 345X0 

ADO _ N.T. N.T. 347X0 3*9X0 
Volume: 27 Ms at IOC a* 
SINGAPORE GOLD FUTURES 
U£X per aem 


SSS*® S«Hte 

Oct N.T. N.T. 32740 33MS 

Dec W.M 331.10 gfljo 328.90 

Fob N.T. N.T. 33440 333.10 

volume: 60 Wts at 100 at - 

KUALA LUMPUR RUBBER 
MatavNan amtsper Uto 

• -S 6 ** . w Freviow ■ 
Bid . Aik bm Ash 

Nov . 18a 183X0 183X0 184JK 

Dec 1B3J0 18450 18475 183JS 

i a— H-aa s Isa 

TotoSSTs JC*-.r > - ,,HB ~ 

SINGAPORE RUBBER ' 

SIWFAr* cent* per kite 

• Clow • Previous 

BW Ask Bid Aik 

RSS 1 MOV— 15875 15975 159X0 l Sm 

RSSIDecj. 16175. 16175 161X0 lSB 
RSSSNOw. IJI 75 ■ 15275 152AI ’ 

RSS 3 Nov- 14975 15075 150X0 151X0 

RSS4N0V. 1*575 M77S 1*6X0 MBX0 

RSS 5 NOV- 1*0.75 14275 141X0 143X0 

KUALA LUMPUR PALM OIL 
Motonton rieggisaer 39 ton 

Qo*« Prevkws 

. Bid AS* . BW A»k 

Nov 670 7W 670 no 

DOC 680 730 680 72o 

ten 710 '7N ■710 750 

FOB *■ ;710 750 . - 710 no 

Mor- ; -710 -760 718 . MB 

Ap 1___ ■ 710 740 no 760 

JeOY ' m 7* *90 760 

Ul . m «s no 

5e» ^ — - 680 . 730 600 730 

vokime: DtoteatTStm.- . 

Scum: Reuters., 


lIS-Treasuries 


OtCfiMW 
Ofiar BM 

Oflioaih bW ' 733 . ti i 

tauMthMi 740 . 7jo 

1 -rear MU 747 -745 


Prev. 
Yletd Yield 
747 M| 
7J9 - 7 JO 
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Souree: Sobmm Brettton 

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ChangeiMiMday: +0X9 

Average yield; 9JB % 

Source: MerriHLrach. 


Sqaibb Baises Net 1^% 

. Prea Fntematieoaf . 
PRINCETON/ New Jersey — 
Squibb Corp.. a major U^. phar- 
maccuucal- company, reported 
Wednesday 'ihat third-ouarter 
rose 14 percent ; so S125 
a from 
$634 million, of SI. 18, aycar earU- 


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Page 13 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


Baker: U.S. Is Not r Arm-Twisting’ on Debt Plan 


By Clyde H. Farnsworth 

Wmj York Times Service 

0 WASHINGTON - Treasury 
toetaiy lames A. Baker 3d has 
testified that the U.S. government 

ciaj banks or promising either fed- 
eral guarantees or regulatory relief 
to persuade thereto lend an addi- 
tional $20 bilh'on to developing 
countries over three years. 

If the banks participate in this it 
wdl be because they find it is in 
their self-mierest,” he said Tuesday 
at a hearing before the House 
Banking Committee. *They*ve got 
loans m trouble. It’s like any other 
workout situation. It's possible that 
reflows will make bad loans imo 

'*tuj* spod]om * r - 
. % — 


At another" j&mt, Mr. Baker 
characterized lhe.Ioass Oat com- : 

mgdal banks have made to Third 
World .countries «s ^an ox m the 

auhr? . . \ ' 

Although many tanks haw al- 
ready acknowledged extreme reluc- 
tance to increase their lending to 
the Third Worid, Mr. Baker said, 
the response was “posrave*' in the 
consultations be has had with key 
bankers. But he acknowledged that 
smaller American banks were not 
eager to increase their lending. 

Mr. Baker was reporting to Con- 
gress for the first time w a plan be 
proposed two weeks ago at the joint 
meeting of the World Bank and the 
International Monetary Fund in 
Seoul, South Korea, to improve the 


condition of cash-starved debtor 
countries and strengthen the world 
trading system. . 

The plan calls for 539 billion of 
new money to be made available 
over three years to countries that 
streamline their economies. About 
$20 billion would come from com- 
mercial banks, with 57 billion of 
the total from American commer- 
cial banks. About S9 billion of the 
new money would come from mul- 
tilateral development banks such 
as the World Bank and the Inter- 
American Development Bank. 

Although Mr. Baker stressed 
that he was not coming to Congress 
for federal money at this time, be 
kXi open the possibility that the 
administration would ask Congress 


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Targeting U.S. Firms From Abroad 


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(Continued from Page 9) 

sionals it has working on interna- 
tional projects. 

The spaialists stress that corpo- 
rate strategies, not favorable ex- 
change rates, are the motivating 
force behind most major acquisi- 
tions. 

“The real point is that exchange 
rates axe not driving thic activity," 
said Mr. Rosea of First Boston. “It 
is much more fundamental than 
that. I was in England for a couple 
of days this week, and we asked 
British companies what effect the 
weaker dollar would have on their 
acquisition strategy. The consistent 
response was, ‘It’s merely the icing 
on the cake, and we're hungry for 
the cake.”' 

Michael Henning, managing 
partner of Erast & Whinney in 
New York, said. “I don’t fed the 
strength and weakness of the dollar 
has any major impact” As long as 
foreign companies borrow in dol- 
lars to make the acquisition in dol- 
lars, he said, “they are hedged.'’ 

But Frederick Adler, a venture 
capitalist and financier who spe- 
cializes in leveraged buyouts, said, 
“A European technology executive 
from a Sl-bOliOD-a-year company 
commented to me that since the 
drop in the dollar, their interest has 
increased. We’ve seen a pick-up in 
interest and it’s a logical pick-up.” 

The increased interest has been 
especially noticeable in high tech- 
nology, a segment that has attract- 
ed foreign companies, even though 
it is undergoing a major shakeout. 

“The cheaper dollar has to make 
it easier for foreign companies to 
come in,” . said Gilbert Mintz, a 
partner at Broadview Associates, 
which is a broker for mergers and 
acquisitions in the dad-processing- 
services industry. r 

“The cheaper price for American 
technology is going to spur a brisk 
round of foreign acquisitions here 


in America,” Mr. Mintz. said. “It 
wfl] be interesting to see what their 
impact will be on American soft- 
ware firms. We've seat interest 
from a number of foreign firms — 
Thorn EMI, Olivetti, Reuters, Pex- 
gamon. 

“The major area of aggressive 
interest seems to be Great Britain, 
and there’s also interest from 
France,” be said. “I think it’s jnst a 
matter of time before the Japanese 
get their act a little bit more togeth- 
er." 

British companies led foreign ac- 
tivity last year with 50 major agree- 
ments in industries ranging from 
retail to oil to industrial products, 
according to Mergers & Acquisi- 
tions magazine. C'-a pa/fom and Jap- 
anese companies were the next 
most active. 

But a key difference recently has 
been the size of the acquisitions. 
Recently, they include Royal 
Dutch/SheQ Group’s S5. 4-billion 
acquisition of Shell Oil, Broken 
HOI Pty. of Australia's $2.4-bHlion 
acquisition of Utah International 
Co. and Hanson Trust’s 5487.6- 
millioh acquisition of United 
States Industries Inc. ' 

Several Japanese companies, 
such as the computer giant Fujitsu 
Ltd. and the ballbearing manufac- 
turer Minebea Co., already have 
shown a willingness to come imo 
the United States by taking over 
U.S. firms. 

Fujitsu's stake in the Amdahl 
computer company and Minebea's 
recent acquisition of New Hamp- 
shire Ball Bearings Inc. reflect Jap- 
anese desires to establish «xmity po- 
sitions in U.S. companies that have 
agood technology and distribution 
base. 

“An American company is good 
for ideas, development capabilities 
and marketing,’' said Takasri Ta- 
kahashi, Minebea’s president 
“We’re much better at the produo 
uon." 


Mr. Mustafa of Citicorp said, 
“We are looking at companies for 
the Japanese. They are starting to 
fine- rune their criteria for acquisi- 
tions. While there are no hostile 
acquisitions yet, one of them will 
come in on a public issue and win a 
bidding war, and there is a certain 
tendency to follow the leader in 
Japan, so that would mean more 
hcKStile-acqmsition activity.” 

While some merger experts be- 
lieve that hostile takeover bids by 
such companies as Unilever and 
Hanson are the beginning of a 
round of aggressive foreign take- 
over attempts. Sir Gordon White, 
who directs Hanson's U.S. activi- 
ties, said last week that he thinks 
just the opposite is true. 

Sir Gordon said that his compa- 
ny’s controversial fight for control 
of SCM has exposed unfair and 
conmlex anti-takeover tactics used 
by U.S. corporations, which will 
discourage future hostile takeover 
bids by foreigners. 

“The feedback I'm getting from 
Great Britain and France is that 
they are horrified,” Sir Gordon 
said. “They cannot understand 
how companies in the U.S. are al- 
lowed to put in restrictions that 
take power away from sharehold- 
ers. In Britain, the shareholders get 
the best deal” 

He said he does not expect other 
foreign companies to attempt to 
enter the uiL market because, 
“they cannot understand these tac- 
tics." 

“I can’t imagine French or Ital- 
ian companies” getting involved in 
a takeover attempt in which aggres- 
sive anti-takeover tactics are used. 
Sir Gordon said. “They don’t even 
speak the same language.” 

Ironically, merger and acquisi- 
tion battles between U-S. firms also 
may spark new foreign acquisi- 
tions, Mr. Mustafa said. 


later for more money for the World 
Bank. 

■ Pent Assails Baker Plan 

Luis Alva Castro, prime minister 
of Pent, said Wednesday that the 
U.S. plan was designed to prevent 
unity among debtor nations, Reu- 
ters repeated from Lima. 

Speaking to Pern's senate, be 
said the coodiuon in the Baker plan 
that each debtor country most han- 1 
died on a case-by-case basis was an 
attempt to prevent these nations 
from making joint demands. 

Peru has said it will bypass the J 
IMF in renegotiating its debt with ! 
foreign creditors and will not re* 1 
crive any missions from the fund. 

Magellan 
Stays Ahead 

(Continued from Page 9) 
the fund, enabling him to invest in 
many relatively small firms. Today, 
the portfolio holds securities of 
more than 800 different companies, 
making Magellan the most widely 
diversified non-index fund in 
America. 

Bui with his Titanic-sized boat 
speeding through the iceberg-in- 
fested waters of investing, is the 
captain worried? 

Mr. Lynch said he only phoned 
back, from Europe to his managing 
director's office at Fidelity every 
third day. “If a stock plummets, I 
usually try not to panic and wail 
until the dust settles.” he said, add- 
ing that the fund is always very 
close to 100-percent invested. 

A basic investment strategy he 
described is to purchase ail the 
companies he might find attractive 
in a group, say five stocks, and “if 
one goes up 30 to 40 percent — 
assuming all the fundamentals stay 
the same — HI sell that one and 
buy more of the other four.” 

Mr. Lynch admits to being too 
aggressive. “Stocks I’ve thought 
would gq up 12 times have at best 
about broken even. The more sizzle 
the less steak. Then there are the 
nicely profitable companies over 
the last five years that 1 bought 
where I thought I might be able to 
make a 30-percent gain. They’ve 
gone up tenfold.” 

So what is his top stock pick 
right now? Volvo, of which Magel- 
lan already owns 2.8 million shares. 

CBS Anna to SeD TV Station 

The Associated Press 

NEW YORK — CBS Inc. said it 
would seeks buyer for its Sl Louis 
television stations as part of a strat- 
egy to recoup capital spent on dis- 
couraging an unfriendly takeover 
by television magnate Ted Turner. 


Learn why 
now is the time 
to invest in 
technology shares 

worldwide. 


Sd/Tech S.A. offers: investments in technology 
companies; internationally diversified portfolio; 
professional management by three investment 
advisers, representing each of the regions in 
which the fund invests. 

Sd/Tech S.A. is managed by three of the 
world's foremost investment advisory firms— 
Merrill Lynch Asset Management, Inc., Nomura 
Capital Management, Inc. and Lombard Odier 
International Portfolio Management, Ltd. The 
investment managers cover the U.S., Japan and 
Western Europe, respectively. They are assisted 
in the evaluation of new scientific directions by 
Sd/TecHs Sdentific Advisory Council. The 
managers can commit portions of the fund’s 
assets wherever in the world they find the right 
mix of technological innovation and attractive 
investment climate. However, assets will be 
invested primarily in the U.S., Japan and Europe. 

Merrill Lynch believes the purchase of the 
Sd/Tech S.A. fund is an attractive opportunity 
for investors to antidpate potential growth of 
technology shares in a portfolio managed by 
well known international investment advisers. 
R>r more information and a prospectus, simply 
return the coupon or contact the Merrill Lynch 
office nearest you. 


| Mail to: Merrill Lynch Europe, st ihta 'iw j 

Attn: Kaye Wiltshire, 

I 68-70 Boulevard de la Fetrusse, 

■ L-2320 Luxembourg, 
j Telephone (352 j 495156 

Please send me more information on Sci/Tech S.A. 

I including a copy ol the audited annual accounts at 
March 31, 1985 and a prospectus that contains charges, 

. fees, and other expenses, i will read it carefully before 
1 1 invest or send money. 


Address 

Business Phone 

Home Phone 

Merrill Lynch customers, please give name and office address 
of Financial Consultant 


Subscriptions are only valid II made on the hasl» ul lb* Fund's torrent prospectus accom- 
paraed by its ditiual report ter (he period ended March 31. ISSS These materials can a Iso be 
obtained at the fundi registered office. 2 Boulevard Royal. Luu*nbotjr£. 
ftlflttS Merrill Lynch, Pierce, Fenner# Smith Inc Member SIP*- 



Merrill Lynch 


From London we can take you to 148 other places. 


wneda 
\ highly 
t the 
mpany 
Jit had 


lelaii® 

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Page 14 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 19&5 


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17% 12ft N 
21ft 13 N 
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lift lift -- 
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73 14ft 

24 16ft 

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13ft 14 
18ft 18% 
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21ft 21ft 
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9 

14 

Sft 

Sft 

1* 

ft 





59 

ft 

ft 

10* 

7ft 

Cal prop 

JO* 

BJ 

16 

14 

9* 

Vft 


7V 2% jmpjk n 


3 12% 12V 12% + ft 
20 6 5% 4 + ft 

105 4W 4ft 4% — ft 
37 4% 6ft 6ft— ft 

6 3 3 3 

54 7% 7ft 7V» — ft 

30 8W 7% 8 — V 

» 3 2V TW — ft 


12% 0V 
22V 14% 
15% 6 

\w 'a 

12ft 9% 
151b II 
13ft 9ft 
ISV lift 
13V 6% 

2* 23H 


FPA 44 

FobltW A0 1.9 8 
FalrFIn 31 

Forty pi ,47t 2.9 
FWoto 

FtConn 1.00a 8A 8 
FWymB JO 4.9 10 
Fsrcrps 7 

FbdlP A3t SJ IE 
FltcGE 5 

FIIGE pt 4 A0 13J 


7 10ft 10ft 10ft 

112 21ft 20V 20V — ft 

14 IS 14', IS + V, 

1 13 16V 16ft 14 V 

101 6% tft trft- ft 

19 11% lift 11% + ft 

11 lift lift lift— V 

11 lift 11 11% 

345 13 12ft lift— W 

13 10ft 10ft 101= + V 

3 29 29 29 


39ft 31V 
4ft lft 
13 10% 

15ft 9V 
24 15% 

2J% 14 
4V 2% 
4 2', 

12V B 
7% 3ft 


KnGs Of 4J0 12A 
KOPokC 


kovj n Joe 1 3 10 
KCOrNl A0 3J 17 
Kenwln A0a 4J 10 
Ketdim A5t 3J 19 
KeyCoB .151 4A 20 
KetCoA .150 5A 18 
K*yPn JO 2A 15 
kerCo 6 


SOs 37ft 37ft 37ft + ft 
51 3% 3% 3% + ft 

74 12 11% 11% -ft 

8 12ft 12ft 12ft- ft 
6 19% 19% 19% 4- V 
26 20 19ft 19V — V 
1 3% 3% 3H- 

8 3 2% 3 t- ft' 

927 Bft Bft eft + ft 

18 3 2% 2% + ft 


15 lift 
13% 10% 
12% 9ft 
12V 9% 

12ft 9ft 
12ft 0% 
36 31% 

33V 29% 
29% 24ft 
24% 19ft 
22ft 17ft 
24ft 10% 
24% 10W 
II 8ft 
23 17% 

19% 15% 
20% 14V* 
19% 14V 
21 14% 

20V 15V 
21V 17V 
lift 8ft 
26V 16 
41V 32% 


PGEPtA 1J0 
PGEpfB 1J7 
PGEPfC 125 
PGEofO 1 25 
PGEpIE 1J5 
PGEpfG 1 20 
PGEpfF 4-34 
PGEpfZ 4A6 
PGEpfY 3 JO 
PGEptW 2J7 
PGEpfV 2J2 
PGEpfT 2J4 
PGEPtS 2A2 
PGEpfH 1.12 
PGEPtR 227 
PGEpfP 2A5 
PGEpfO 100 1 
PGEpIM 1A4 ' 
PGEpfL 225 
PGEpfK 104 
PGEptJ 222 ' 
PGEPfl 1-09 ; 
PGTrn 124 
POCLt pf 426 I 


11 13ft 

10 ,12ft 
9 lift 

78 11V 
203 11V 
2 10% 
17 33V 
40 31V 
28 27% 

11 22ft 
5 20V 
5 22ft 

4 22V 
24 1DV 
16 21V 

104 10ft 
9 1 7ft 
10 17% 
10 20V 
2 17V 

5 19% 
7 9% 

99 24% 
KHz 40V 


13 V 13V— V 
11% 12ft + ft 
II IIV 
10% II —ft 
11 11 — ft 

10% 10% 

33ft 33ft— V 
31 3TV + ft 
27ft 27% + V 
22% 22ft . 
2QW 20V + ft 
22ft 22ft 
22V 22V— % 
10 iov + V 
20% 21 +ft 
17% 18ft + % 
17% 17% — V 
17ft 17% — W 
20V 20V + ft 
17% 17% — ft 
19ft 19% + W 
.9% 9% 

34V 26%+ V 
40V 40V 


mi 20V 

I 2% 

IOV 4% 
% 

17% 71V 
74V 57% 
48 53ft 
24ft 19 
39W 33ft 
26 20% 
29 21 W 

5% 3* 
6ft 4ft 

II 9ft 

9V 7 
15% lift 
Sft 3ft 
30V 17ft 
14V 9% 

7% 3V 
35 12 

40V 33 
2ft lft 
15% 10 
4V 2 
1% % 
Bft 3% 
4% 2V 
15 .9% 

13ft 6ft 
12ft 9ft 
13% Bft 
. 2 % 
15ft 8% 
16ft 7% 
15ft 9V 
lift 7% 
7% 4 
15V Bft 
5% Ift 
4% 2ft 
20 % 10 % 
19V 10 
27 24V 

9ft 5* 
16% 7 
10% Bft 
lift Bft 
lift 8% 
12% 8% 
51ft 38ft 
14V tlft 
92V 69V 
23ft 18 
23ft 17ft 
75ft 59 
85% 61 
3% 2% 
7V 4% 
13V 5ft 


IAS 37 13 
13 


9A4 11A 
7-80 11J 
7 JO 11.1 
2A7 10.9 
4A5 I1A 
168 11.1 
A0 18 
A3t 9.1 11 
JO 3A B 
130 HO 
1 JO 16A 


54 1.9 14 
A8 4J 23 
.10 IA 

7 

■34 1.1 10 


JS 17 

13 

JI6t 7A 18 
11 

1A0« SJ 8 


23 

J7t 18 23 
JOI w 

.101 18 

JO 11 II 


25B 8ft 8 

2 38% 38% 
8 aw av 

52 7% TV 

38 6 6 

5 1 1 

30= 84ft 84ft 
50= 48 48 

200Z44V 44V 

6 22% 22H 

14 39ft 39V 
8 34V 24V 

10 28ft 28% 

3 4V 4% 

45 SV 5% 
U 10V, 10 
57 7% 7ft 

44 lift 11V 

5 3% 3% 

104 30 29% 

8 10ft 10ft 

15 5% 5% 
15 12ft 12ft 
5 33% 33% 

10 1 % 1 % 
34 10ft 10 

24 2V, T 

44 % % 

14 4% 4* 

14 3% JV 

I 10% 10% 
1 10ft 10ft 

11 11% lift 
20 11% lift 

3 12 lift 
2fl ft ’h 
10 12% 12ft 
32 9 8% 

TS3 99, 9ft 
38 7ft 7ft 
20 5 5 

9 9% 9ft 

27 4 3* 

1 3ft 3ft 
24 20V 19% 
44 20 19% 


U 27 24ft 
40 7% TV 

45 BV 8 
1 10% 10% 
2 10 % 10 % 

11 10ft 10 

7 lift 11V 
100X 44% 44% 

2 14V T4 
TO. 91ft 91ft 

115 21% 31% 
* 20ft 20V. 
« 49ft 69ft 

3 81ft -81ft ' 

21 a ... 3 . 

12 H'M 

4 6V 6% 


Bft -I- ft 
38* 

3V 

7ft 

6 

1 — ft 
84ft — ft 
48 —IV 
64% + % 
22% + V 
39V 

24V— ft 
28% + ft 
4V— ft 
5% 

10 — ft 
7ft— ft 
lift— ft 

UL 

29V + ft 
10ft 

5%— ft 
12ft— ft 
33% + V 
1% + ft 
10 

2 

% 

4% + ft 
2V 
10% 

10ft + ft 
11% 

lift— ft 

12 + ft 

ft 

12ft— ft 
9 + ft 

9%— V 
7%_ % 

9%-+ ft 
4 + V 

20V + V 
20 + V 

27 + ft 

7% + ft 
Bft— ft 
10% 

l£+ft 

U£ + £ 

14 ■ — W 
91ft. • 

21% 

20V— V 
49% +% 

-T; 


10ft 9ft VST n .fSelQA 57' 9% ■ 9ft-. fft- ft. 

30% 13 VoDvRb IA0 69 13 1 20* 20* 20%. 

27% T7ft VBtaor s A4 IJ 15 93 26* 26V 24% .+ 

10 1% Vertt • 28 8* 8* 1%. 

23% 14ft VtAinC A0D2L4 32 22 16% 18*14% 

6% 3% VTRsh 22 3% IVIJW- 


S 

22 16% 18*18% - 
22 3* 3%;K-i 


13% Bft Vomit' JO 2J.t3 116 8* Bft 


4W 2V Vertpte 

10V 5% Vfeled, 

9 4% Vicon 9 

18% 13 Vlrco Mr 3 14 
66 53ft Valid! 

9% 6ft iftswofG JOb IS 9 
12ft B Vopftx AO 48 10 
19% 14% VuleCp AO AA 10 

7% 3V WTC 18 

28% 18W waibor A0 1.1 20 
29V 15 WongB .16 3 

29 I«W WanflC .11 A 

2 V ft WrnC wr 

11% 4% VYStlHS S 

30 76 VftllPSI .96 3 14 

20ft 14ft WRITS 1.17 62 17 
11% 7% Wnftc B .16 1.9 5 

5% 2% Wmlrd 
9V 9 WcWun 
3ft ft Webcor - 

4% JV Wfedco 
0 6ft We.; tn 1.10*11 A 7 
12 7V Wedlcti JBZtr J ir 
6% 4% Welmea .w 2A. 4. 
9% 7 WeUTb A2) 

4 8% Wehffm 12 

19ft 4% Welles 3 

2V ft WeUAnj 

4 2V WelGrd 

33ft 18% WMca A3 IA IT 

2* V Vtemji 

IOV 5% WStBfC ■ n 
11V BV Vfttt>ro JO U 

15ft 6V WDJflitl 

23% 7V WtHtlhn 17 

21V 15% WIRET 154 8J 14 

13% 6%WstSLb .16 IJ 4 

24ft lift WhrEas IS 

2V VWMta 

3 Wldei 5 

V Widunwt 
32% 20 WUuHaOSO. SJ 
Oft 2ft WlnG B - 38 

.4ft 2ft WbtEA 
23% • 19% Wlntfn" 2 24 11j» 

4ft 2% WoltHB 
IBft 11% WkWbW 52 22. 7 
Sft 2V WVnJoE 78 

17% 12% WWniOflA0.12J.. . 
22% 9- WOrtftfl ■ JS| ■. 

21V 15ft Wrwtir -,m .1 44 
• 8V -5% YonkO* 10 

«u - 3% Zhn mr : JSf ■ 


- 1 4 4 '4. — % 

4 6V 4V 4K— * 
% 4% 4% 4% + lb 

1 WH . 14+ 14% - I, 

J *m 

6 0 7%* 7% 

26 «ft • IV - V 

2 18 18 11. 


.10 5ft . 5* Sft— W 
2062 , 36ft UH 3CW +WH 
ms 18% 17* Hft.+ I6 
« tfft lift ■](%.+ V 

59 V+.S' 

-X TVt 7V TV— ft 
3I110V 109V 110. 6 V. 
2 19. 19 W/ 

••.* .8V -8% av + ft 

9 3% 3V 3% - 

8 3V.3V3K— ft 

-1 9% 9%. •*-- • 

21 10% '10* 10% 

22 5% 5V » 

1 7% 7% . 7% . 

,2 in, iov n. w.v 


i ^ Tt 


14 2V 2% 2V + ft 

13 34b. 33ft 34V +1 
55 1% IV IV +% 

4 Aft 4V 6ft + ft 

39 11V, 11 II +ft 

1347 . Oft . Oft SV— ft, 


147. Oft. Oft BW— ft, -v 5 5 (. 

38 14% 16* 16% O-i 
7 19% |,. 19 -ftV | 

87 12% 12% 12ft- ft ' * 


214 15% 14% I4%~ ft 
II 2% 2% • 

'% ft ft ftU 


1931 29V 28ft 28% 

217 7W 7 7W +14 


10 4ft 4ft -4ft. 

19 20V 20* 20V- ft , 
7 2* 2V 2V 
144 W IB 19 +1% . 
70 3% JW 3%-ft 

.11 IS 14V 14V- ft 
12 9% 9V 9% +_ft 

’32- 19ft 19* 1 
48' 6% 6ft 6ft ‘ 
12-4* 4 4% +rft 


Do you make the best possible 

use of your cash? 






imapemyfirst > 

MUiJOM-mYEN, 




Rothschilds are Europe’s leading 
managers of international money funds. 

These funds provide an efficient 
alternative to a deposit account in any 
major currency. 

Their principal features are:- 

★ Security of capital. 

★ Wholesale rates of interest without 
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r ★ Fifteen different currencies. 

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[ ★ Speedy redemption. 

★ A choice of interest distribution 
or accumulation. 

P They are designed for:- 

( Both large and small investors. 

1 - Residents of all countries where no 
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Those who wish to choose their own 
currencies 


ntENCH Company 

Handbook 1985 


Nowin the 1985 updated edition, 200 
pages of indispensable information in Cngfish on 
a selection of 84 of the most important French 
companies, as well as basic fads on other major 
firms. Indudes information on foe French 
economy and major sectors of activity, an 
introduction to foe Paris Bourse, and a bilingual 
dictionary of French financial terms. 

Each profile indudes detailed information 
ort head office, management’, major activities, 
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background, shareholders, prinapaf French 
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activities, exports, research and innovation, 1979- 
1983 finanaal performance, important devek . 



Those who wish to use Rothschilds' 


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. AEROSPATIALE 
AR FRANCE 
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AVIONS MARCH. DASSAULT- . 

BREGUET AVIATION 
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BNP 

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BOUYGUES 

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OGM GROUP 

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OMEN15 FRANfJAJS 

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COMPAGNIEDUMDi 
COMPAGNE FRAN^AISE DB 
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COMPAGNE GfrfeALE 
D’H£CTOOr£(CGE] 
COMPAGNE G&£RALE DES 
EAUX 

COMPAGNE LA H&#4 
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OtfiXT COMMERCIAL DE 
FRANCE (CCFJ \ 
atfiXTDUNOW 
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dtOUZET 

□ARTY . . 


N M ROTHSCHILD ASSET MANAGEM: 


cLl U -■ 






. francabehokhst 
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USINOR ■ 

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‘ VALLOUREC. 


opments and 1984-1985 highlights and trends. ' 
Indispensable for corporate, government 
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Hcralb^SSribunc - X 

fRENM Company handbook 1985 

Publislied by 

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J p 60 ” senc ^ 11,16 —^-copies of Frendi Company Handbook 198S. 

!• D SSbte made in T 

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:£'£■• £** 
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Jii ? 


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r in 

• i* 

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“ • • <VT ‘ "- >. 


• • • ••*•:£*•.•«:&-. «j»..V 


CWUtt wcYMAiaom» " 

Dollar listless in Quiet European Trading 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


Jv»-1 J 




Page 15 


Canada Sets 
Bank Probe 
In Bahamas 


emptied b? Qw Sing Frtm Ditpakka yeatiou on tbepartef central banks caused a finny, of sellhig in which -W- — _ _ 

'. ..^^DON •— The dollar dosed ^^53^ toidwflMrid. ' the dollar feHbekw 2^300 DM. f n K/y fl/tyn/tfi 
slightly lower in Europe Wednes- ^ dbljWfcr dosed '-at . Bid: aS it was realized that the .«*■*’ MMAmtUf fWZo 

i day, but essentially remained fw«t 235.75Japanese yea, slightly high- non-defense component of Lhc in* „ . ' 

; m tis recent tradmgmtSn.SS * 215.50, diator showed i o>pe«wi: in- _ A . 

one of the quietest sessions in re. l*® 11 * ^ ator ® .Lp?<ton*to dollar crease, the dollar recovered its OTTAWA — The Canadian 
cent weeks, dealers said. was quoted at 21532 yea. poise; An exceptional levd of de- gP'CnUnenj is investigating reports 

The US currenrv rWw) *bo reported a strong feme orders had boosted the indi- pat Canadian hanks arc heavily 
don at 16372^SJ*e ^ demand for doflais by muitinatioiv cator in August. mvoNrf in laundering dmg money 

Si^nSSiSSjrS&iS 5 on Wednesday. TbcOJ^nliiwm US. era- wtte Bahamas, 

below Tnesdav'f fe^.&WnwHioii and. the somer prices last month, the same Sohator General Pemn Batty 

' DMAnv^Snim^^ Z —° cf * w* increai as in August, also helped said .Tuesday that he was checking 

down the U5. currency, the dealers to boost . the douS^ealeis said aj the request, or the kato of the 
; Olherlaledoltar raies,compared 


Imperial on 

3 rd qw. IMS 11 

RewtraM 3 . 1 W. 23 

Ower Met I 52 J u 

Doer Share— AVI 0 
fMoatfu IMS If 

Revenue ejaa. *a 

Onr NO 43*0 it 

Otter Snort „ 2*9 2 

IVewIealand 

Watties industries 


Company Results 

Revenue and orotlts or losses, in millions, are in local currencies 
unless otherwise Indicated. 


Cons. Edison 
jrdOoor. 1985 

Revenue 1J30. 


(Moans 

Net Inc . 

Per Sher#„_ 


1(85 19 M » Moans 

8 JD lolls.) R avenue . 
MO — Net Inc _ 


1(85 ms w SW 
’ 0 X 3 6 C.U (Moons 
sTH MSI Revenue 
0477 (Uil Net Inc. 


I*'-: Ti : 
«k!-.s : 


“‘"■'t • r . . .„ 


Dealers said that in strategic trial nations agreed Sqrt. 22 to in- 2.1663 Swiss francs, down from ^UbethattheoperaiionsofCana- 
terms, the dollar remained stock in tervtoe to depress the dollar tons- 2.1673; 8.0325 French francs, ft 1 enterprises operating in the 


a trading range of 2.6150 DM to duce theUA trade deficit. 
2.6450 DM. One dealer in Frankfir 


J P wmd doscd ai 

SI.4335 m London, little changed 
on the opening of SM345 and 


duce the UA trade deficit. down from 8.0535; 2.9735 Dutch Bah “ mas fail under Bahamian 

One dealer in Frankfurt said, guilders, down from 19805, and ,aw i " he ***&. . 

“There is no alternative to the dd- 1,778.80 Italian lire, up from ^ rep 011 published Tuesday in 
Iar, its relatively high {imaest rate) 1,78150. the Montreal Gazette said a year- 


0 , little changed k^retarrely high (hnerest rate) 
<rf SW345 S y 1 ® 11 * 5 and the fact that n is.t be 


ProJH 

Per Shorw_ 

IVonrey 


Norsk Hydra 
(Mounts ins 

ProfiM 1.770. 

Failed Suum 

Amdahl 

JnJQucr. m 5 

PfcvcnuT ».... 421.1 

N«l Inc 571 

Por Shews 0.14 

(Moans 105 

Revenut eOia 

Hal Inc. ISJ) 

PirSWt — OJS 


AiHMuser-Busch 

3 nj Ooar. ins lfM 
Pwonuo — xoia. i.f% 


fStST” » 7 J ^4 t'MiWMMNti Por Snare — 2 J 
n? oS,: — , A jjS at S 943 M 0 . 10 , c remit oi 1 «S* nen ineluOe pato at 

SfCBJCOanewriteoownotSf* *1 ’ million In avorfer ana o* 


im lfM (Months MU 1 (M 

12 J 70 1105 a Ravcnuo SJIB 1 &830 

1214 1004 Net Inc S 16 JJ 5 M 0 

171 W Por Shore — 44 f * 6 » 


(Month* 

mi 

Revenue — 

IJ 70 . 

Nor inc 

IOCS 

Per Share 

1 S 5 

Plttston 

3 rd Ouar. 

1(85 

Revenue 

338 ^ 

Net inc 

1.23 

Per Shore— 

f) f,i 

(Moathf 

H 85 

Revenue 

(405 

Oper Less 

073 


nvwwBnsriawmorjr, ™r/rim m warrer ™ m ' 

w? million Quarter nrl otto Irr- It e million In 9 months. It 64 2 nd Ouor. 


Morrison Knudsen 


9 -munm tiers UKUrde u» 
Credits at 012000 ,-s I i.i mil ■ 
non. ifw 9 -mor.m nei ** 
eludes sain at St million 


0 J 4 ! 2*7 aude *« OM arsnmliucn. 

PcrStwe— ast Freeporl-McMoran 


CMamend Shamrock 



Jraouor. 

1985 

HM 

19*4 

Revenue 

1*50 

1.1X. 

1^58 

Nei Inc 

515 

IU 

Per Snore 

140 

845 


(Mean* 

1985 

MM 


Revenue 

1040. 

34m. 


Ne»1fSC — , 

(0J651 

1884 

MM 

18C6 

PerShcre— 
a loos. 


1J4 


cos Dlfrilal ERulpmeal 
MU 10 Qaar. MM 1 ( 

ISUi Rertroe '.430. 1 £ 

JOJ Oner Net __ 72 J 0 

044 Doer Shore—. 170 1 . 


3 rd Qaar. 

1985 

,984 

Revenue 

1615 

3053 

Nei me. 

50.7 

31 J 

Per snare 

0.75 

03 , 

(Matiftu 

19*5 

MM 

Revenue 

5 * 7.1 

t 2 SJ 

Net Inc — — 

(731 

6 93 

Per Share 

14 J 

0.96 

General Food* 


2 nd Ouar, 

1986 

1985 

Revenue 

2 . 190 . 

2 J 8 D. 

Net inc 

r . LB 

SU 

Per Share 

156 

150 

Mt Halt 

1986 

1985 

Revenue 

4300 

rw) 

Neiinc 

1 505 

t 70 J 

Per Share— 

171 

137 


Leasewoy Transport. 


Si v million In ? months. !*84 2 nd Ouor HU 1(94 

9 -rronm net also Inctuees Revenue M 10 5170 

charge at SIB million nciiik ton 90 

. .numm, Trn^nnrt Per Sport— OW D.W 

Lmeway Transport. 9Uo<ma 1IBS 1K4 

WOtw. MU MM Revenue 1 J 30 1400 

Revenue 3707 33 CS Nei ^ 47 J 7 A .9 

Neilne. S 4 e lli« Per Snare _ 153 255 

Per Snare a 73 0.(6 

(Mon tbs ins 1 «U National InrergriKjp 

Revenue — lOM. jraotur. ins MM 

Net Inc 2046 a JO Revenue *700 5«4 

Per Snare — 1.77 4.11 Neiinc 1 &.( laiiefl 

UnBm Per Shore— OeO - 

MnB ^. ( Months MU MM 

IfflOuar. 1 »U IJM Revenue 1440 . 2 . 110 . 

<»( 483 .* Net LOU 13 J IM 

p“! l \3 or.- ten Pw share mailt 

Per snare— OJt AM otter prwerrefleMvwenos. 


3rd Over. ms mm 

Revenue Tn 1 m»4) 

Nel Irtc. 1 ,J i ,7 

Per Share 048 cjj* 

(Meant* 198 $ 19 M 

Revenue tueo wc7 

Net Inc id V 1 S 4 


Revenue _ 

Net me. 

Per Share. 


1 J 0 Per Snare. 
(U ( Maalti* 
Revenue _ 


Maoco 
HU 
_ 4 S 89 

— 41 J 


Norfolk Southern 


The amuaraal Sooth African ’‘“A. Bahaiman inquiry into drug ’SS ’S! SISSS- 


MBS hall-rear net Inemaes 
sat n at xra 3 million ana 
enorge at at mutton. 


slightly firmer from Tuesdays cun ’®W of a country that is polity rand dated at 38.85 UA cents, trafficking and hgh-kvd corrup- fM0Blfci 
: close of $1.4320. J caBy and economically strew*/? ' liule changed firira Tuesday's close non revealed in Decembo- the — 

>■ c. . . ' . , , Wednesday’s tranquility was of 38^5 U^. cents. It was unaffea- transfer of huge amounts of cash Pershora— 

t S tthefl f lk briefl y interrupted by a Jarpnse ed by the meeting in London be- ™ l «*_**» country through the 
•; Sn?SSSS1?? y if 1 ldas “ uc b“ Kl-pacem overall drop in Septan- tween South Africa and 30 or its Bank of Canada 

-. tie ** UA dnrahfc sxsds onfcrs, creditor banks on the counirv's -AwoMing jo the ram more 

^ msi ^ sreaUT ^ to 0-5-pereent- in- moratorium on debt repayment *** S1 n 2 m drog-rebted «««« — 

nut tncre was tittle reported inter- crea« that had been ejected. This (Reuters, AP) money flowed through the Royal s pSs£rS= 


the cotmuv's According to the report more 
repayments than S 12 million in drug-related 
(Reuters, A Pi money flowed through the Royal's 
branch office on the tiny island of 
i. , Bimini. 

The opposition Free National 
________ Movement leader, Kendal Isaacs. 

told the Montreal Gazette that the 
' banks were tempted to accept mon- 

\JS& ey in UJ 5 . cash for deposit. “The 
amounts were large and they stood 
iced at 100 * 4 , 10 make a profit-” 

Idine Coro. Canadian banks dominate bank- 


ie report 
in dnie-n 


THE EUROMARKETS 


Rush of New Issues Slows as U.S. Rates Ease 


By Christopher Pizzey rate note dux has a farther £50 ing 6 % percent and priced at 100 * 4 , 10 maj£e a P 1 ^* 1 -'' w SflW "— 

Reuters minion on tap. while Thyssen Holding Corp. Canadian banks dominate bank- Bm 

LONDON — Activity in the Eo- The eight-year issue has a cou- launched a S 50 - million brad. This ing and insurance ihrou^iout the 

robond market was relatively sub- pon of 1 1 11/16 percent for the issue pays 1 0 ft percent over seven Caribbean. Four Canadian banks, ££,— 

dued Wednesday with prices of first six months and thereafter will years and was priced ax 100 *. 4 . including the Royal Bank of Cana- fMwmK 

seasoned dollar-straight issues gen- pay ft point over the three-month Banque Indosuez issued on it da, account for 80.7 percent of total g£* 7 i* — 

CTaDy ending unchanged to slightly London interbank offered rate. own behalf a S 1 25 -rafllion floating domestic deposits and 79.5 percent o»rs**re_ 

below Tuesday’s closing levels. The par-priced issue met strong nite note that pays *A point over of domesiic 'oans in the Bahamas, 

deaterssaid. demand and rose fTOmeariy quotes six-moaih Libor with a maximum The report concluded that the Ch 

They noted that with the U.S. of around 99.85 to end at 100 . 15 . coupon of 13 percent. The 12 -year br S e inaease in U.S. dollar depos- « a™, 

credit markets easing Wednesday The lead manager was S.G. War- issue was offered inside the iotal its “is directly related io the flow of gSSSS^z 

aftemora, there was no repeat of bmg&Cd 75 -baas-point fees at 99 J 5 . drugs.™ 

Tuesday’s hectic activity when dol- S.G.Warlmrg also lead managed Dansk Naturgas A^S issued a SSSSnoI 

iar strai^its totaling $800 million a £ 50 -imllion straight bond for the 20 -b 3 Hon-yen dual-currency bond «jmI£K£i 

were launched. Treasury Corp. of New South paying 8 percent over 10 years and West German Share Index ots&miunu 

Those issues were still tradina Wales. priced at lOlVi. ’ . montm. 


Per Stxjr* A*2 C41 Smw. 

9 Month* 1985 M 84 ««!«.. 

R*wnu« &S 20 . S 430 . Pmr Short 

N*t Inc. 3*44 31*4 fMmtlu 

p*r Shorn 233 Ml Revenue . 

Pgr anon rendu ntmM inc - 
tor S-tor-J torn in June Por snore 

a: lost. 

Bauseb A Lomb 

3 rd OtMf. 1(85 MM E<ttt 

Reverwe 154 J 1365 Motor. 

Not Inc. 145 * ?zn Rovowe . 

Per Snare — 044 ;« Net Inc. - 

f mourns 1985 7984 Persnore 

Revenue _ 4433 3 ( 4 A 9 MaMft* 

Net Inc. 44.(1 32 JS Revenue . 

Per Snore — 537 53 * Net Inc. _ 


General Motors 


Net inc 

18 10,067 




Per Shore 

an 

— 

Revenue 

32490 . 



MBS 


Net inc 

5165 

4165 

Revenue 

AT? a 

614 J 

Per Share— 

146 

UI 

Nel 1 nr 

059 

( 0 ) 7.1 




Per Share 

ate 

— 

Revenue 



a: loss. 



Net inc — ... 

2 JSO. 

3440 , 


Nei Inc 

Per Share 

703 

2 JJ 5 

624 

356 

3 rd Ouar. 
Revenue — 

1(85 

1 , 830 . 

HM 

« 4 .» 

Mayflower 


Nel inc — 
Per Shore — 

1414 

Z 3 S 

114.7 

2.16 

3 rd Quae. 

Revenue 

Nerinc. .... 
Per Share 

1(85 

1845 

447 

058 

1(84 

1404 

6.15 

0.93 

(MOAIM 
Revenue — 

Nel Inc 

Per snare — 

MR 

2510 . 

3801 

6 fu 

1914 

2710 

3745 

5(4 


U <0 ( Mentos T 9 U <984 

4 lta Revenue 4*20 Ml 

1-31 NM IK. 10 J 107 

1 VM Per snare 141 1 a} 

3 jno. Per snore results aanrstea 


ms nets incline oa-n ot 

3«3 SIP . 7 million from sole Of 
! B Z stock. 


Bars-Warner 
3 rd Ooar- MSS 

Revenue — 9634 

Net Inc. 33.1 

Per Share — 040 

f MMIta 1985 

Revenue 2.(43. 

Net Inc IlSJ) 

Per snare — TJo 


«cS ,en,Ai i 2 ? ei HM Goodrich [B.FJ 

.'JJ Revenue' 1 JWL l!ltt S 2 S 5 SJ' . 

Z 34 Net Inc 439 14 

T 984 PeeSnare_ 037 - gS££ 

3(44 IMeeltS MBS 1984 

3 US Revenue SJM 1*0 

5 i* Net Inc. 734 taMC 7 SSTKf. 

Per Snore OW — ijf* 

o : loss. 


• 3 rd Ooar. 

3 rd Onar. 1983 19 M Revenue — 

Revenue 8349 8514 Net Inc 

Doer Net 040 25.1 Per Share 

Oner Snare— 003 > 4 » t Month* 

9 Month* 1(85 1 ( 8 * Revenue 

Revenue 2 ^ 00 . 2400 Net inc 

Doer Net — ia) 312 . *44 Per Share _ 

Oner 5 ftare_ — 238 

o: loss. HBS ((mmii net In- Me 

chKttrs chow ot JuQ >4 mil- jotj Quar. 
hon out et eludes charge ot Revenue 


Emery Air Freight 


sum Northeast Utilities 
f Mourns MSI MM 

Revenue IJSfl. 1470 

Net Inc ... 2304 2 W 4 

lfM Per snore — 210 218 


1(85 1984 ErtESf ~ 

1 ?S YSk . p r±r*- 


,hm 53014 million and loss of S 32 A Nel inc 


McDonald's 

r. 198 S lfM Per Snare 

t 1410 ( 14.7 

138.06 11447 

r " — *■« 1J * 3 rd Rear. 

I 1(35 MM Revenue . 

I 2780 2560 . Net Inc - 

32941 3(746 Per snare 

r*— 179 136 9 Manta* 

McKeswn 5 S 7 IT: 

r. 19 M ins Per snare 

' 1450 1.170 


Brackway 
MOour. 1(85 

OaerNMtZI *640 * 3 J 4 EXXOn gr ( Inc. 554 204 Per Si»re 3 

Ooer Share, 040 O* 3 rd Ooar. 1(85 1(84 Per Shore — 209 T.ll 

a UMb. iui Revenue 22400 ?l( 7 n Nell Include gains ot 

’»S 5 _ ^ JJfi ^ ^ S«*J>0O»S»mu,»n KJfc 

Oner Nat — 1SS9 046 Per Share — 143 148 I naersnIURflnd (VetJ Hictuc 

Oner Shore- l.(* 113 (Maants 1(85 MM ' ngersou-mna minion vs Mr. 

198 1 nets exclude cnarge a* Revenue 60430 72 J 3 C «Owar. 1 WS HH auanersond. 

summon (Jet *»c 34 i«t 4 . 10 a «J 3 J Mff lion vs Si.t 

Chubb PCrSj ™- KJSSrTI 1% ^ manW " 

gtIQaar. 1985 MM FteWCTMl Mills 'rES 22 _ ,JSS ! 4 H 3 rd floor. * 

Oner SJwreZ ^ U 8 S 8 IS & S fSSSzZ 

(Mm Hi* 1(85 MM Net inc 6.(9 143 oS? Stwr^T 

Doer Net 622 30 Per Shcro — 14 ( DJI Kidde - 

Oner Share— 268 2d f Montm 1(85 1984 3 rd Onar. 1985 19 M Re^JIuS 

Nenosemae gems or ssmtoo Revenue 4004 4064 Revenue &274 5(14 o Hr Nil 

vs SI. I million in Quarters oaa Net inc 6.19 643 Neiinc 1843 21.71 Ontr Share _ 

of S3? million vs M 4 million in Par Snare 149 145 Per Shore 041 0.96 

9 moo WML iMm«h ,aM , mi MtdlC 


Net Inc 

Per 5 han*_ 


2074 minion. Per snore — 

Hutton (E.FJ *«««« 

mm K 2 L 2 ?" r - «“ ”?* KSi 75 r~ 

tZfl Revenue JSO-t> 675.1 pa, snore 

%L Nel Inc 47 23.1 

- 2 V n M n,,. AM K.. 11 , 


194 164 

0(5 OM 
19 M ins 

2920 . 2330 

364 323 

141 147 


lIS Exxon 

O* 3 rd Oaor. 1985 19 M 

im Revenue — 22400 23420 . 

44 , , Nel inc 9954 1 J 70 

U 6 Per Shore 143 148 

:.13 9 Mooms 1(85 MM 


Per Share 035 0.(0 Melii 

9 Month* 1985 19 M 3 rd Ouar. 

Revenue — 2270 . 1428 raet inc 

Net inc SS4 204 pS Snare 


Iar straights totaling $800 million 
were launched. 


Those issues were still trading 
within their fees Wednesday, and 
one dealer commented, “due to the 
quality of the borrowers’ names, I 
imagine the bonds will all be placed 
shortly.™ . 

Initially Wednesday, primary 
market activity centered on the 


Treasury Corp. of New South paying S percent over 10 years and 
Wales. prircda( lOlVi. 

The seven-year issue pays 10 ft Dealers noted that a novel issue 


West German Share Index 


Mellon Bank 
3 rd CKtar. 1985 19 M 

NCI lac 474 424 

Per Snore 14 S 141 

9 Mouth* 1985 19 M 

Net inc 156.7 1181 

Per Snore — 556 til 

Nets include gain ot 537 


, - r ' 3 rd Ooar. 19 U I 9 M 

19 M Revenue 202.7 1«54 

2460 . Net Inc 1546 11.77 

19746 Per Share 1.10 043 

136 9 Month* 1985 1984 

Revenue 5654 4 »e 4 

Net inc. 3848 2648 

1985 Per snare 2 aS 146 

1 . 170 . 

1°£ Occidental Petroleum 
/Z: SrdQuar. 1985 I 9 M 

Revenue — 140 a ivoa 

Net Inc 381.7 1529 

3*3 Per Share — 344 0.90 

9 MaattH 1985 19 M 

Revenue— 104 » lUQO. 

.—. Net Inc 643 J 3845 

*W Per Shore— 440 14 ( 

, 4 ? IPBS nets Include gains ot 
_ |tm« million in auaner ana 
MM of 5227 million In 9 months 


9 Meant* 1985 19M 

Revenue 8 484 ew.7 

Net inc ... idf 156 

Par Snare G JS 050 

I°*i Cmoulfl nel metvde* 
cnorge of 539 million. 

Prime Computer 

3rd Boor. 1985 19M 

Revenue 196.7 1453 

Net tnc 152 219 

Per Share 032 346 

9 Moaim Its* i«H 

Revenue WJ tnt 

Net inc 40J 44.9 

Per snare— 044 0.(4 

1984 nets Include gam 01 10 
cents oer snare cmd charge a: 

Scents. 

Quaker State Oil Ref. 

3rd Ouar. 1*85 t*M 

Revenue 74\.i 2334 

Nel Inc 121 C6 

Per Share 043 0JJ 

f Month* 1(83 1984 

Revenue 721 .( s« 0 

Net inc J2G 214 

Per snare 143 on 

Relchnold Chemicals 
Manor. ins »u 

Revenue 20 S4 1(5.5 

Net inc 140 6 J6 

Per Shore 024 oor 

9 Mooms 1985 1 9M 

Revenue 428.9 674J 

Nel inc 105 I9j 

Per Share 162 243 

IPBS nets include oo-nolSI I 
million ham sale ol austruns 

Revere Capper 

3rd Oust. 1983 I9M 

Revenue >044 1449 

Opot Net 258 1065 

Oder Share— OJfl 142 

9 Month* 1915 I9M 

Revenue 3421 4U 

Oner Net 2047 (alt3 1 

Oper Share— 347 — 

a: loss. IPBS nets et etude 
loss of S2 million, loss ot * 1 p 
mllltan in auaner ana pom ol 
S2S million in 9 (nsntns 


MM Fielder est Mills 

1*4 3rd Ouar. 1985 MM 

040 Revenue 157 3 1484 

1984 Net Inc - 6.99 153 

39 J Per Sncm__ 1 J( DJI 

2 d 9 Month* 1(85 1984 

aaav Revenue 400 3 4064 

’Sana Net Inc 6.19 643 

Ton in Per Snare 149 145 


MM Revenue 

5914 Oper Nel 

21-71 Oper Share— 


Reuters 

The sevm-year i^e pays 10 ft Dealers noted lhai a novel issue FRANKFU RT — Commerz- m mm 

T ^ bank AG said Wednesday lhat its Wi&ZZ tJS S 3 

^“ 2 "°*^. wieiged Wednesday. The issue was index of 60 leading shares rose 29.6 (Moot*. mss mm 

fhe fira -ever domestic Irish-pound p«nls. breaching 1,700 points for ^SSfer 'If* 
perceni at a discount of 1 9 / 16 . issue for a foreign borrower. The die first time and reachine its tenth 


percent and was priced at i»r. It for the European Investment Bank bank AG said Wednesday lhat its PpfShar * 
was quoted on the when-issued emerged Wednesday. The issue was index of 60 leading shares’rose 29.6 9 MtSsT" 


perceni at a discount of 1 9 / 16 . issue for a foreign borrower The 
Two Thyssen AG units bar- 1 S-nriHian-l rish~pound bond pays 
rowed Wednesday in the Eurobond lift percent over 10 years and was 


the first time and reaching its tenth 
record high this month. The index 
rose to 1 , 704.0 from 1 , 674.4 on 


Coachmen industries 
3rd Qaar. MBS MM 

Pevenue 76.1 11(.7 

Net Lass — Om 0jd 

9 Months IMS 19 M 


sterling sector, dealers said. The market Thyssen Caribbean Fi- priced at 97.80 to yield 30 basis Tuesday when some profit-taking ^ Freed 

Alliance & Leicester BuDding Sod- nance NV issued a S 250 -m 3 Hoo- prams over the equivalent Irish had set in on -record gninc regjs- mi ou imo«ar. 

ety issued a £ 1 50 -million floating- Dcatsche-mark, H)-year bond pay- government bond. tered in the last two weeks. pfrstSrn: otb ’i« KJaSri 


Fiogie Ifttl Hdgs — 

™ SL 25 S_ hIj ?SJ p ‘ rShor# - 

S SZSZrTi 

* Moofn* IMS MM r^Svm' 

7*5 R*v«nu« 5824 5224 uci Inc 

, - 1 * Op*r Nei — 19.1 144 . .. nn(hr 

Coer Share— 348 241 

les ‘984 nets enCUxSe losses ot 

1984 P*TStafrr 

11^7 sz£ nuilian tn 9 monma. 


9 Month* 1985 19*4 A* 

Revenue 1.910. 1418 3 rd Ouar. 

19 M Net Inc 474 35.7 R^Snue 

1484 pet- 5 hare_ 122 140 OaerNM 

SS 1 none Orar Share.. 

ui Kidde , y— 

I 9 M 3 rd Ouar. 19*5 1984 r^u, 

4064 Revenue 627 JJ 5914 Oomr Nel 

643 Net inc 1443 2 I. 7 T Oper Share- 

145 Pei- Share 04 1 0.96 

(MaattH 1985 1981 Mldlc 

Revenue I jm 1.720 m ouar. 

Neiinc 57.93 59.(1 Revenue 

mJ S*w#_ 255 245 oner Nel — 

ws Kni9ht-Rldder News. 

** 3 rd Ouar. 1985 1984 

lW Revenue — 4022 oper Nel 

S 224 Nei Inc 252 30.1 Ow Share- 

9 Month* 1985 19 M 1984 nets e» 

‘ Revenue 1 . 210 . Uto. S 3 ml Won Inn 

Z.°’. NM rnc * 1.9 «44 million In vm 

Per Share-. 169 165 continued one 


1(85 HM 

1 . 140 . 1420 . 


Phibro- Salomon 

3 rd Ouar. 

1985 

3 rd Ouar. 

1965 

HM 

Revenue 

1383 

Revenue 

6 .( 00 . 

7450 . 

Net Inc 

936 

Nei inc 

13«5 

1190 

Per Shore— 

043 

Per Share 

0.(4 

053 

9 Month* 

1(85 

(Mo MM 

1(85 

HM 

Revenue 

3994 

Revenue 

i*jia 

21530 . 

Net inc 

2756 

Net me 

Per Share 

4250 

259 

3425 

230 

Per Shore 

,30 


Oaer KM 424 38.1 

Oner Share.. 07 ( 979 

(Madia MB* hm S 

Revenue 11 * 0 . 3475 fJJ? 


Phillip* Petroleum 


Ryder System 


km MMIand-Ross 

w Ouar. 1985 1(84 

59.91 Revenue 1864 183.7 

la* Oaer Nel — 447 6 J 2 

Oaer Share— 024 062 

!WS - 9 Month* 1985 1(84 

MM Revenue S 26 J 429 1 

«5-9 oper Net 134 184 

30.1 Oper Shore— 046 143 


3 rd Ouar. 

1(85 

H 84 

3 rd Ouar. 

1(81 

HM 

Revenue 

4500 . 

1 . 7 m. 

Revenue 

6(49 

6297 

Nei Inc 

365 

3175 

Nei Inc 

3459 

3325 

Per Share 

0.13 

047 

Per Share 

032 

070 

9 Month* 

1(85 

1*64 

1 Montm 

ms 

19 M 

Revenue 

12500 . 

11350 . 

Revenue 

2540 . 

1540 

Nei inc 

2525 

6415 

Nei inc 

(044 

8779 

Per Share 

051 

139 

Per snare 

158 

154 


Piedmont Aviation 


sears, Roebuck 


in4 Freedom S A L Assn snSQuor 
434.1 3 rd Qaar. 1 ( 8 S 1 M 4 Revenue'. 

1549 Nel Inc 209 (alBJ Net Inc _ 

174 Per Share 071 — Per Share, 


1 65 continued operations. 

SM 


3 rd Quar. 

,ns 

1 (M 

3 rd Ouar. 

1(85 

Revenue 

3*05 

3325 

Revenue 

10540 . 

Nel Inc 

1824 

194 

Net Inc 

7622 

Per Share 

151 

1 J 8 

Per Snare 

021 

9 Month* 

1(85 

HM 

(Months 

1(85 

Revenue 

1 . 110 . 

9785 

Revenue 

38450 . 

Nel Inc - 

5067 

4759 

Net inc 

7515 

Per Share 

351 

351 

Per Share 

253 


Pitney Bowes 


1(85 

HM 

3 rd Ouar. 

HU 

I 9 M 

3 rd Qaar. 

HU 

HM 

5560 . 

4420 . 

Revenue 

2570 . 

1 . 990 . 

Revenue 

4484 

4104 

455 

384 

Net Inc 

1735 

HB 5 

Nei Inc - 

314 

3,5 

15 t 

056 

Per Share — 

153 

120 

Per Share— 

055 

050 


Shaw Industries 
let Ouar. HM 1985 

Revenue 1321 194 7 

Net inc 5.96 681 

Per Share 070 040 



* 




40 W 23 '* ErlcTI 45 # U 10(9 
1 *V» II EvnSut 172 

14 W ru Eiuwlr 948 


2 SW 25 W 25 H + W 
H 11 *k 1834 
13 U. I 29 » 13 M + h 



17 V 1 1016 Hosier 
10 ’* 64 Kavaan 
61 V< 39 '( Kemp 
41 H 28 KvCitU 
11 6 U KevTm 
9'4 2 b Klmbrit 
21 W 13 Kinder 
14*6 4*6 Kray 

U*h 10 *k Kruuer 
29 Vs BVi Kulcke 


3 tH 58 

61 

1 J 0 12 298 
140 24 EV 
353 
65 

46 6 2502 

46 .9 1037 

42 26 116 
.121 14 4(9 


11*6 1114 
Vn (W 
56 Va s s\h 
39 *. 39 
8 % 8 M 1 
3 2*6 

17 16*6 

r« 7 

13*4 13 
12 11 


1114— U. 
(' 6 — U. 
56 + *- 

J*W + W 
8*6 + '4 
2 * 6 — V. 
16 * 4—14 
7 — Mi 

13'4 4- 14 
11* + h 


Ufa. 5*4 LDBmk 
18 * 6 - 9*6 LSI LOU 
23 V* *'A LTK 
Hh 8*4 UaPBles 
48 32 LaZBv : 


48 32 LaZBv 

W?, 13*6 LadPrn 
isv, 11 Launw 
17 1199 LOnVjT 

17 14 Lancral 

49*4 3 SW LaneCa 
32 22 U> Lavnns 

7 »« 4*6 LeeDM 
1516 8 U Letner 
9(6 6*6 LewHP 

4 2 jj> Lexicon 
4 HW Laiddia 
2414 17*4 ueon 
7 V 6 4*6 LleCam 

20*4 11 % UtyTuJ 
38 % 18*6 UnBrd 
3614 77 % UncTel 
49 V 6 21*6 LbOOS 
25*4 2 S‘M LonaF 
33*6 15*4 Latin 
29 7 % Lvphaa 


Vi 6% 
18 % 17 *» 
WV, 10 
17*6 17 % 
48 47 % 

20% 20 
14*6 14 % 
IS% 15 % 
16 % 16 
S 3 52 % 
28 % 28 % 
514 S% 
18 9 % 

sa 

20 % 20 % 
5 *v 5 1 ** 
18*6 18 % 
36 *( 35 % 
34 U 33 % 
* 4 % 43 % 
24 23 % 

18 17 % 

23 U. 32 % 


, 6 * 6 -% 

10*6 ♦ % 
17*4 + V 6 
48 
20 

14 % 4 - 16 

15% + U. 
16 

5214— *6 
28 % 

5% — V6 
9 % 

a - % 
— % 
1 %— V. 

2 a% 

5*6 ■*■ % 

18*4 + U 
35 %- % 
34 % + *6 
44 

24 + V. 

18 4 - 14 

22 * 6 — % 



TT 1 


24 % 

29% 

4 % 

00 

I* 8 * — 
V% 9*4 
tfW _ 4 % 
24*6 24*6 
2% 2% 
516 59 s 
1 U 6 17 V. 
11*6 
28 % 

% 



23 % 13 % 
171 % 106*6 
72 39 % 

4 % 2(6 

14 % 716 

2 % 16 
10% 6% 
5 % 3 
14 a 

1«*6 64 , 

5 % 2 % 
26*4 9*6 

7 % 3 % 
11*4 6*6 
25 % 14 % 


Strvkrs 151 

Subaru 231 I> 136 
SuhrB 1.(2 2 3 148 
Summa 1.1 

Sum) HI .10 1 J 1258 
SurCst 111 

Sun Med I 

Suprtex 4 

SvmbT SO 

Svnlech 123 

Smirc* (3 

SvAsoc 70 

Svstln 83 

Svsinhi 4 

Svitml M 3 B 


23% 22% 
160% 159 
72 71 V. 

2 % 7*6 

8*6 8% 
1 % 1 '- 
(’« 9*4 

3 % 3*6 
9 V (VJ 
10*6 10 'e 

3'6 3 % 

10 10 
5*4 5'1 
10 % 10 % 
24*4 24*6 


27 *. -I- % 
160% 41% 
71 % - *. 
7 H 

8% + % 
IV. 

('4 ♦ % 

3 * 6 - 
9 *. 

, 0 % — *6 
3 %- 9 . 
10 — % 
5 %— V. 
10 % — % 
244 * 


9 ft 

(*« 

(ft + 

% 

25 

25 

25 — 

ft 

3 % 

3 % 

3 * 6 - 

ft 

16 ft 

16 % 

16 % — 

ft 

3 ft 

3 % 

3*6 — 

ft 

10 % 

10 % 

10 % — 

% 

lift 

11 % 

lift 


33 

32 % 

37 ft- 

ft 

Bft 

8 % 

Bft 


23 

27 ft 

22 ft- 

ft 

17 % 

17 % 

17 % + 

% 

3 

!*» 

2 


10 ft 

10 

10 ft * 

ft 

16 ft 

T 6 ft 

16 ft 


3 ft 

3 % 

3 % 


f% 

9 % 

9 ft — 

% 

10 % 

10 % 

10 % 


26 ft 

36 

26 % + 

ft 

8 

7 ft 

7 ft 


6 ft 

6 % 

6 ft + 

v« 

7 % 

7 ft 

7 % + 

ft 


1 I 




Tmr 




!S% 

6 QMS 

1413 

9 % 

3 % Quadra 

119 

13 % 

9 QuaLCS 

J 8 34 1 

32 ft 

16 ft Qucnlm 

3666 

5 % 

29 * QueslM 

169 

14 

Bft Quixote 

1221 

lift 

7 ft Quotrn 

8516 


6*6 6*6 6*i 4 % 

Pit 7% 7% 

10 % 10 % 10 % — % 

22 % 21 % 21 * 4 — % 
4% 4*6 4% 4 % 

15*4 14*H 15*4 4 *a 

14*6 14*6 14*4 


MUi 


9 % 6 
WA ttk 
lift 4 ft 
21 14 

9*6 4*6 

17 % 6 

4% 2*6 

71*6 17 % 

Tift 716 
6 2ft 
4 % 2 % 
15 % 8 % 
24 % 16*4 
3*6 *6 

18*4 12 
5 % 3 ft 


C COR 23 

CPRhb 72 

CML 2 

CPI toe a 86 
err 289 

CSP 506 

CACI 54 

CbrySc Ml 4 d 5 M 
CnlMIt 23 

CnlStvo .23 

CoitanP .. S 
CuJnv .% M -400 

ass- ■ - • ss 

% d . 2 ? 


7 5 ft 
4 3 ft 
- 9 ft 9 ft 
19 % 19 
6 % 5* 6 
I?*. (%' 

3 Ztt 
STHfc 2 TV* 

2% 2ft. 
•14 13*6 

17 16 % 

3 % 3 % 


«ft 

3ft- ft 
9ft 

’Sft— ft 

’5ft- K 

21 ft + ft 

teas „ 

4ft— ft 


16%— % 
3% 


17*6* 8% 
‘Sft % 
Tift 5 ft 
25ft 24ft. 
12*6 7ft 
14 12ft 
lift 6ft 
12ft 7ft 
9ft 4*6 
28%. 9% 
I9ft 7 
MW Hft 

15ft 4ft 
IM 6*6 

14% 6*6 

14ft 5ft 
5ft 2% 
m svi 
T 7 % eh 
36 . 15*6 
W , 7*6 
17% 8% 
21% .10 
20% 666 
8ft 5*6 


50 

3J 

IS 

25 

56e 

5 

77 

1516 

165 

1591 

45 

125 

IJ0 

35 

37 

56 

3 

127 

■1ST 

U 

45 

58 

44 

77 

126 

JDBm 

J 

86 

1 64121.9 

28 

53 

82 

50 

35 

390 

26 


2(6 + ft 
4% 

9ft 4 % 
24% — % 
46% + % 
17*6 + % 
14*6 4 U 
IS 4 % 
5% 

3% + V. 

1 ft- % 
6*6— % 
5ft— % 
5*6 4 % 
Zlft— *6 
96, 4 % 
25 

29% — % 
30 

left 4 *6 
teat — u 
1^4*6 

1316 4 % 
16% 

at 4 % 
48ft 4 ft 
4*6— *6 
7*6 

IS*. 4 ft 
18 

29ft 

22ft + ft 
23% 

51ft 4 ft 
Sft 
5% 

16% — % 
*V| + ft 
Ift- ft 


L_ 




10% S 

20ft 

11% S 

lift 

6 S 



20% 

iY» S 


29 S 

15ft 

7V» S 


7ft S 

75% 

39ft S 


2ft S 


s% s 

30 

16% S 

20% 

U% S 

IQft 

6ft S 

16ft 

10 % s 

13% 

0% 5 

25% 

15ft S 

6% 

3ft 5 


7 S 

20ft 

7 Si 


3ft S 

Oft 

4 & 

4% 

1% & 

7ft 

1% s 

26ft 

16 S< 

9% 

5% S 

10ft 

6 5 



25% 

1712 S 

23 

13% & 


12ft & 

37% 

33% Si 

SVft 

29V*. S 

20*6 

17*6 S 

M% 

7*6 S 

31% 

21% SI 


ID S 

10ft 

4*6 & 

l/% 

9% SI 

20% 

lift SI 


lift 51 


4VS 5 



15 ft 

11 SI 

34ft 

12ft SI 

17% 

Sft 51 

4 % 

1% 5 

54 

32ft 5 




6% 5 

21% 

11% Si 

30% 

18% a 

27% 

UVi 5 

6% 

4 5 

33 

20% St 


15*6 

*% JBRsta 

.16 

1.7 





BW 

3% Jockeot 



160 

5ft 



41ft 

25ft JackLfe 



159 

35*6 34ft 

35% + % 


14*6 Jamwtr 







Bft 

.4% JefMart 




A 



23% 


.12 





7ft 

3% JonlcbJ 

1 


a 


Sft 

Sft 


6% Jospnui 




lU 

a 


19ft 

9% Jrawa 



31 

16% 

Uft + % 

20V* 

13*6 Justin 

40 

u 

Ite 

15ft 

15% 

15% 


1 24% 

13% KL4 S 

637 

19 

Uft 

19 ♦ % 

1 9 

4ft KVPwr 

11 

8% 

8% 

8% 

33 

JOftKronon 

46 2.1 68 

31ft 

31ft 

31% * ft 

1 23% 

13% Korehr 

54 

15W 

15% 

15ft -f % 1 



S 1 




54 

11 

10*6 

10-ft 



740 

13% 

12% 

13ft v % 



79 

19% 

19% 

19% 

,10r 14 

6 

7% 

7% 

7% + % 

JM 

4.4 

1(1 

18% 

IB 

18% 

30 

1.1 

813 

18% 

17% 

18% ft ft 

140 

3.9 

1056 

41ft 

40ft 

41% ft W 



20 

12 

13 

13 



33 

14ft 

14% 

14% 

LOO 

4 3 

1132 

71% 

70ft 

71% +1 



14 

Sft 

5% 

5%— ft 

.12 

1.9 

11 

6ft 

6ft 

6ft ft ft 



83 

30 

39ft 

30 

44 

22 

V49 

W% 

19% 

VCft 



37 

8% 

■ft 

Bft 



43(5 

15% 

lift 

lift— Ml 

J7 

li 

132 

17% 

12ft 

13*6 + % 

40b 14 

43 

24% 

24 

34 



35 

4 

3ft 

4 



35 

7ft 

7% 

7*6 ft ft 



304 

0*6 

BVj 

8ft ft ft 



71 

4ft 

4% 

4ft 



10fi0 

6 

5ft 

5%— ft 



100 

1% 

1% 

1%— ft 



467 

2 

1*6 

1W— % 

M 

44 

701 

20% 

30ft 

30ft — % 



1 

6 

6 

6 — ft 

JU 

J 

457 

7% 

7% 

7% 

48 

4 

5000 

Uft 

13ft 

13 — ft 

J» 

44 

448 

18ft 

10 

18% — ft 

1 


,5 

19% 

19% 

19% 

.16 

.( 

5 

16*6 

16% 

16% 

48 

14 

7477 

35% 

34% 

35% 4 % 

148 

45 

fid 

37% 

37% 

37% 

.16 

.9 

11 

10% 

18% 

10% + ft 



143 

9% 

9% 

(% + % 

.15 

4 

Z79 

25% 

25 

as — % 



42 


10ft 

10% 



887 

4% 

4% 

4% 



54 

10% 

10% 

10% 4 ft 



109 

13% 

13% 

,3% 



7 

19% 

H% 

19% 



6 

4ft 

4ft 

4ft — V* 

40 

SB 

19 

14 

13% 

13*6— ft 



10 

11 

11 

11 



85 

14ft 

14 

14ft— % 

aa 

A 

600 

10% 

10ft 

10% + ft 



333 

3% 

7% 

3 + h> 

IJ4 

U 

120 

49 

48*6 

49 + % 



*9 

20% 

30% 

30% + ft 



256 

aft 

8 

8 



220 

14% 

13*6 

14% + ft 

480 21 

749 

30 

29ft 

M%— ft 

45e 25 

19 

w 

1719 

IS - ft 



194 

4% 

4% 

4ft 

•a 

XI 

1163 

34% 

74 ft 

24ft + *6 

40 

IS 

285 

17% 

17 

17% + % 

.10 

14 

316 

6*6 

6% 

6% + % 



756 

26% 

left 

36*6— % 



634 

17ft 

17 

17 — ft 



312 

22 

21% 

21% 4 ft 

m 

TJ 

14 

7% 

7% 

7% 



8 

Uft 

14% 

T4%- ft 



93 

6% 

6% 

6*6 4 ft 

M 

24 

IBS 

7ft 

7ft 

7% 

ijo 

34 

SI 

77ft 

37ft 

77% — ft 



282 

13% 

l?ft 

13 

IJ0 

55 

198 

22% 

27 

22 - % 

40 

ID 

175 

30% 

30% 

30% 4 % 

.15b IB 

82 

4% 

4 

4 



395 

5ft 

5% 

Sft - Vs . 



12 

14% 

Uft 

14% 4 ftl 

n 

XI 

2 

B. . 

23 

22 



7 

eft 

6% 

Oft 4 Vh 



1234 

,8*6 

18ft 

Hft I 

M 

2D 

204 

3716 

36% 

37% 41% 


(% 

4*6 VLI 



50 

5% 

5% 

14% 

7ft VLSI 



13713 

11 

10ft 

12 

4% VMX 



61 

«% 

4% 

11% 

7 VSE 

■lie 1J 

10 

9% 

•% 

20ft 

6 vaiu Lo 



1871 

7ft 

4ft 

22% 

■ft VOlFSL 



165 

15% 

15ft 

42ft 

26% VaiNII 

1JKI 

3.1 

664 

39 

38% 

34% 

Hft VoILn 

.40 

2.0 

61 

20V. 

20 

18ft 

Uft VonDus 

.40 

22 

M 

lift 

18 

15ft 

4 % vaiuell 



14 

5 


6% 

2% Venire* 



464 

6 

5*. 

28ft 

Uft vicaru 

.12e 

.7 

1147 

17% 

16% 

14 

7% VleaeFr 

-22e 29 

6 

7% 

7V* 

14% 

9% VIKIna 



14 

13 

13ft 

20ft 

13ft vlratefc 



47 

l(ft 

Hft 

12% 

5ft Vodavi 



543 

7% 

7>m 

22 

14ft Vo<tlnl 



357 

18% 

17ft 


5 * 6 — ft 
15ft — ft 
4 ’l v l, 
9 % 

7% — % 
15% t >1 
38% — % 
30'6 

10 % f '6 
ift- 
6 + % 
14 ft— !t 
7*6 + '6 
12 ft— % 
l(ft 4 ft 
7*6 

11 — ft 


25 ft 

17% WD 40 

.(6 

S3 

55 

18% 

18ft 

18% + ft 

lift 

10 wolbC * 

34 

1.9 

fl( 

Hft 

12% 

12% 

; 13ft 

5ft UHkrTei 



40 

»% 

0 % 

(% — V. 

25ft 

,7% W*hE 

1.74 

BJ 

&2 

33 

31ft 

31 ’6 

26% 

14% WPSL* 

60 

2 A 

37 

34% 

2«*6 

24*6— ft 

16% 

10% WMSB 



113 

13% 

13% 

13ft — ft 

(ft 

6 Waveth 



50 

7% 

Prs 

7% 

14ft 

10 % webb 

.40 

3J 

46 

11% 

11 

71% 

18% 

7% WedFn 



11 

17% 

17% 

17% 

17ft 

5ft M!EtF5L 



47 

14% 

14% 

14% + *6 

Hft 

5 WlTIA s 



2 

11% 

11% 

11% 

21ft 

15% wmorC 

M 

23 

IS 

18 

17ft 

IB 

17% 

S% wstwCi 



V04 

(ft 

6ft 

(% + ft 

34ft 

23ft Wettra 

.98 

30 

63 

32% 

32*6 

32*6— ft 

6% 

3 WICal 



31 

3% 

1% 

3% * % 

13% 

3 Wldeam 



57 

4ft 

4% 

4% + V* 

48% 

M% W 111ml 

165 

38 

677 

44ft 

44 

44 — ft 

15% 

7% W1JIAL 



433 

13*6 

13ft 

13V* + V. 

17ft 

8*6 WnHSn 



,1 

16ft 

lift 

16ft * ft 

10ft 

4 % wiimF 



Ml 

6% 

5Tt 

5% - ' * 1 

7% 

3% Wlfldmr 

J»l 


177 

3% 

3ft 

3% 

74ft 

14% wieerO 

jvo 

40 

V 

15% 

15 

15*6 

31ft 

lift WbOdhd 

JQ 

LO. 

31 

12V. 

13 

12 1 

39% 

31 % worino 

M 

24 

1111 

25% 

74% 

24% — % 

«% 

6ft Writer 

■ I5e 17 

193 

Oft 

8% 

8% * % j 

30% 

21% Wymon 

JO 

17 

75 

22 

21% 

SIV3 — VI 


9ft 

1% xewc 

607 

2% 

2?. 

2% + % 

13% 

5% xicflr 

338 

7 

6% 

4% * % 

171m 

10ft Kldex 

50,8 

13% 

17*- 

13% e ft 


23*6 14ft Ylo*F 1 54 13 ,719 


23% 33 23ft- % 








































Page 16 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 


¥ Paj 


rpTTTT 


19 1 10 til i12 113 


PEANUTS 


THIS 15 WUR RffORTER HOUJ DIP YOU FEEL AFTER. IF VDO WERE A TREE, WHtfT 

IMTBMEUflNGTHE FAMOUS TDU LANPH7? HOW PIP KINP OF TREE UJOULP VDU 

'LONE BEAGLE" AFTER HIS VDU flSa. WHEN YOU TOOK UKETO 8E7HOU) DOES fT 

RJSWAa^THEfilLANTlC OFF? HOUJ DO VDU FEEL? FEEL TO HAVE FEEUNS5 ? 


& ( BACK TO 

^ot! Vg« STUDIO! 


HOWTO VOU FEE/ 


N 


|24 I 20 tze^HiT 


[ 28 1 30 131 







139 [40^H41 |42 


BLONDIE 


’ a 

i In 


(49 ISO fsi (52 



45 








57 



90 



S3 

_ 

_ 


, MOWS \OUR NEW U -L I WE HAVE A VJ THAT'S 
MARRIAGE, ELLEN ? If REAL. LOVE / WONDERR 
>. AFRAiR 

<S M 


IV* HOPELESSLY IN LONE I I AND HE 19,700 
CwiTH MY HUS0AND H „ 


ACROSS 


1 Kind of suit 
6 Create edgings 
9 Tree of the 
custard-apple 
family 

14 . . to get you 

in , honey” 

15 Mature 

16 Calvinoor 
Balbo 

17 "Beat it!" ■ 

18 Turpin or 
Vereen 

19 Wakefield 
personage 

20 Hope movie; 
1951 

23 Half-inning 
ender 

24 Sounds of 
surprise 

27 About 70 
percent of the 
globe 

28 Caesar's co- 
star 

32 Citrus fruit 

34 Attack 

36 Early A. D. 
theologian 

37 Tolerate 

38 Most inclined 
to dawdle 

41 Alien film: 

1971 

43 Agnes, in Avila 

44 Saxe 

46 Superlative 

finisher 


47 Prussian city, 
famed for 
cutlery 

49 Burgess work, 
with “A” 

56 SE Asian capital 

57 Sma 

58 Paragon 


ID. 24, 85 

26 Nickleby’s 
companion 

28 Largest of the 
West Indies 

29 Express a 
viewpoint 

30 Ballet finales 

31 " of robins 


BEETLE BAILEY 


59 Squash variety 

60 "A.Q.O.T.W.F." 
novelist 

61 Halos 

62 Revengers in a 
recent film 

63 gestae 

64 Notched 


DOWN 

1 Fitzgerald's 

"The 

Tycoon" 

2 Hankering 

3 Expose 

4 Glorify 

5" Blues," 

1924 song 

6 Potted-plant 
stand 

7 Schedule 

8 Hamstrings 

9 Turn 

10 Very eager 

11 Roller-derby 
grouping 

I2Jai 

13 Promise 

21 Muscovite 

22 Stratagem 

24 Giraffe's kin 

25 Lake or Indian 


33 Exam 

35 Jimmy Dorsey 
hit of 1942 

39 Flat-bottomed 
boat 

40 "When the 
night is 
beginning 


YOU AT THE TOP SHOULP 
REMEMBER'- "POWER 
CORRUPTS AHP ABSOLUTE 
R9WER CORRUPTS 
ABSOLUTELY'' 


Longfellow 

41 Edith and 
Archie 

42 Ex-constellation 

45 Vessel that 

saw action at 
Aciium 

47 K.P. residue 

48 Zenith's 
opposite 

49 Fictional 
sleuth 

50 Limerick 
product 

51 about 

(approxi- 

mately) 

52 Siring 

53 Nautilus 
captain 

54 Wags the tongue 

55 Otherwise 



X SEE YOU’VE 
MET MV WIFE 


ikm 

imm 







ANDY CAPP 


3 ( get ymjr coacroN. pet. we'll 1 

I r2 l GO TO THE' RED UCN' -IT'S 
Is OUTTE uveuv IN 

gl _ T THERE lAIB^-jlTM 


1 to-2q 

WIZARD of ID 


I R«THER RANCV^J 
ANKEEVB41N& J 1 

> TOGETHER AT 
HOME, PET- JUST 
THETWOOFUS M 

' . 


£ 


IFNOUWANTUS ' 
TO BE ALONE WE 

d 1 THB^S NEVER- 
>“ ANVBODV 

f In7?V£K5..70 


O Awe York Times, edited by Eugene Maleska. 

DENNIS THE MENACE " 


•O-Vr 





SMPfiggSi 




„ WO ONE'S TPV1W6 TO HURT 
* YOU, CLAUDIA/ WE WAWT TO 
3 HELP' DOST YOU UNDERSTAND*? 
> HERE'S DR MORGAN TO- SEE , 

I -\rr vou, oaruug' 




WHV PONT 
YOU SIT DOWN 
50 WE CAN 
TALK. MRS. T 
BISHOP-? J 



‘MR.WlLSOK ISN'T ALWAYS MAD. He JUST HAS 
A FACE THAT A SMILE WONT FfT ON." 


GARFIELD 


THAT SCRAMBLB) WORD GAME 
g by Henri Arnold and Bob Lea 


’JUMP ONTO 
THE P1LLUVM 
S NERMALi 


Unscramble these tour Jumbles 
one letter to each square, to term 
tour ordinary words. 


BUAQS 



WETIC 




aw gw**, 



i YOU PIP Jr I PO EVERYTHING 
[i THAT ON Y\ ON PURPOSE 


PURPOSE, 
DIDN'T 
VOU? . 


I© W 5 LHMd Festra SyndcsUAv. 




1NMAYL 


n 


BIFCAR 


THAT SNOBBISH 
SKUNK WAS 
UNPOPULAR BECAUSE 
HE WAS ALWAYS 
PUTTING ON THIS . 


Now arrange the circled letters to 
Form the surprise answer, as sug- 
gested by Hie above cartoon. 


W)rid Stock Markets 


Via Agence France-Presse Oct. 23 

dosing paces in local currencies unless otherwise indicated. 


Answer such i 


yesterday’s , 


(Answers tomorrow) 

Jumbles; APART WHOSE IMPUGN TAMPER 


Answer Some people with the gift of aabnwer know 
whan to do this— WRAP IT up 


WEATHER 


HIGH 

LOW 


C 

P 

C 

F 


29 

B4 

34 

75 

a 

23 

73 


43 


27 

■1 

24 

75 

fr 

29 

84 

2* 

75 

r 

29 

84 


59 


18 

64 

4 

48 

d 

22 

72 

15 

39 

r 

30 

84 

25 

77 


28 

82 

18 

64 

r 

21 

70 

>3 

» 

fr 

25 

79 

9 

48 

Cl 

28 

D 

17 

63 

d 

21 

fl> 

15 

59 

d 

24 

75 

14 

57 

d 

28 

82 

13 

55 

d 

29 

84 

2* 

79 

D 

25 

77 

M 

57 

r 

M 

R 

75 

iCJ 

14 

ST 

tr 

24 

79 

12 

54 

o 

28 

83 

20 

60 

r 

23 

o 

14 

5/ 


24 

7S 

13 

55 

St 

25 

77 

IO 

*4 

tr 





3 

27 

12 

10 

Ir 

23 

72 

16 

61 

r 

15 

59 

6 

43 

to- 

n 

70 

12 

54 

d 

16 

61 

2 

34 


19 

46 

9 

48 

d 

n 

M 

23 

73 

tr 

29 

84 

22 

72 


» 

77 

JJ 

34 

tr 

11 

88 


75 

tr 

4 

61 

12 

54 


1 

S 

■ 9 

2B 

tr 

!7 

81 

23 

73 

fr 

9 

*0 

9 

40 


0 

U 

1) 

52 


4 

57 

8 

46 

r 

2 

54 

10 

50 

cl 

6 41 13 55 d 
Iv cloudy; r-robi; 



GFSA 
Harmony 
HfwsM Steel 
Kloof 

NHMtxmk 

Pros Stevn 
Ruus lot 
SA Brmn 
S» Helena 
Sasol 

West Holding 


CHM Pro* 
3550 3500 
2931 2935 
sea 585 
2310 2375 
1100 1120 
4700 4550 
2*50 2425 
4B0 735 

3*50 3400 
835 B3S 

ansa 7Boo 


681 

680 

76 

7* 

*54 

454 

49J 

483 

498 

493 

283 

7W 

386 

384 

393 

393 

356 

356 

Ml 

140 

196 

193 

73211 35/M 

193 

186 

305 

305 

525 

530 


F.T. 30 Index : 1951-30 
Pravtaai : N41J0 
F.T^E.UM Index : wui 
Preview* : mi JO 


Cato Storage 
DBS 

Fraser Heave 

How Par 

Inchcape 

MOl Bankino 

OCBC 

OUB 

OUE 

SJKjnorlla 

Stine Derby 
5 ’pare Land 
STmra Press 
S Stncnratilp 
SI Trading 

United Overseas 
UOB 


3.18 3.U 

STS STS 
430 425 

2.18 2.18 

114 2.19 

5.90 5JS 
8 AS BAS 
2J9 TJt 
235 233 

135 N.O. 
1J3 185 

144 143 
*85 440 
084 084 
3.10 110 

1J8 140 

348 348 


MBn 


Slrolts Times lad index : 774.13 
Pmtaw : raw 


Composite Stock Index : 1 218.90. 
Prevlom : 1232J0 


DM 

271 

ssd 

2sa 

142 

*27 

2*5 

230 230 



Bit Eosf Asia 
Qteung Kong 
China Light 
Green Island 
Hang Seng Bank 
Henderson 
China Gas 
HK Electric 
HK Realiv A 
hk Hotels 
HK Land 
HK Shane Bank 
hk Taupnone 
HK Yaumafel 
HK Wharf 
Hindi Whampaa 
Hvsxi 
rnncitv 
Janflno 
JardfneSec 
Kowloon Motor 
Miramar Hotel 
New World 
SHK Props 
Slolux 

Swire Pacific A 
TqIO wrung 




Wing On Co 
Wlnsor 
World Inn 


3250 2ZT0 
1940 1940 
1740 17jo 
820 8-20 
<4.75 4175 
1275 235 

H20 I >20 
US 820 
1120 1238 
34 3* 

445 445 

7 JO 725 
925 9.10 

us 3JB 
72S 735 

2450 2440 
043 042 

D.9B 0J97 
1290 13 

>5.10 74.90 
10.10 10 
« ** 
790 7J5 
1340 
230 240 

2730 2740 
2 205 
590 044 

142 14* 

*JD *.75 
27S 240 


Haag Song Inaax : 1*4421 
Ptwrtoo* : t *«444 


Blue a rue 
BOC Group 


AGA 

Alfa Laval 

Asea 

Astra 

Alias Copco 

BalhMn 

Electrolux 

Ericsson 

Es&etre 

HcnMsbanben 

Pharmacia 

Soab-Scmla 

sandvlk 

Skjmsko 

SwediinMatch 

Volvo 


1*0 140 

2B5 20* 

294 297 

435 435 

133 131 

>9i N.a 
1H 153 
202 199 

345 340 

IBB 198 
148 >48 

N.Q. — 
*90 445 

92 MJQ. 
243 24* 

215 218 

218 220 


books 


THE LIVELY AUDIENCE: A Social 
History of the Visual and Perform- 
ing Arts in America, 1890-1950 

By Russell Lynes. 489 pages. S27.95. 
Harper & Row, Publishers /no, 10 East 53d 
Street, New York, M Y. 10022 

Reviewed by Carlin Romano 


W ITH no video lie-in to distract the cultur- 
al watchdogs, Russdl Lyncs’s survey of 
the modem American arts must stand on its 
own as history. Stand it docs — but always a 
bit awkwardly, with the posture erf a host 
rather than a guide. 

Published as a contribution to Harper & 
Row’s New American Nation series, “The 
Lively Audience” is the 1 Ith book from this 
75-year-old chronicler of American culture 
("The Tastemakers,** “The Domesticated 
Americans’") and former managing editor of 
Harper’s magazine. Partly drawn from his ear- 
lier histories erf the Museum of Modem Art 
and the Cooper-Hewitt Museum, it offers II 
chapters packed with survey sketche s of the 
Chautauqua movement and the 1893 Columbi- 
an Exposition in Chicago, nickelodeons and 
early photography, the rise of museums and 
the fall of Remix-Arts architecture, the Ash 
Can School and ragtime — all softened by the 
author’s cheerful hand- at-your-el bow ap- 
proach. 

Softened, indeed, is the operative word. 
"The Lively Audience” avoids rigorous cur- 
tain-by-curtain history (ballet and modem 
dance are largely ignored) and incisive critical 
scorekeeping. In the best of his earlier books, 
Lynes played the Yankee patrician poking a 
suck into his culture, the wry art-world manda- 
rin donning his thinking cap (Lynes has served 
as president or trustee erf several arts institu- 
tions). 

Perhaps because it is part of a series, *The 
Lively Audience” settles for being a safe text- 
book rehash of its subject — an odd package 
from a man with a distinctive voce. Every 
page, nonetheless, shows evidence of Lypes’s 
14 years of research. The insistence of D. W. 
Griffith's early managers that audiences would 


not sit still for a 28-anmtie , 

number of film cotnsesmc^U^Sutem J 

1935 (one, at University of Southern Canfor 
oia), are the land of inrtex card ^ 

us bow assumptions change, and art lottos 

^^^Despiie its title, “The Lively A**^*®®*!^*?* 
scant attention to audiences (“Audim^ by 

and large do not want their intellects stimulat- 
ed or Stir emotional withers wrung i ana 
trains its sights on the arts themselves. ■ 
While the larger part of Lynes s uMpawd 
involves the rebellion against genteel art (de- 
scribed as “eminently suitable to a society max 
set great store by proper manners, by 
ties, traditions, conventions, and social rasuoi- 
ousness*’), he detects shifts in the tide, such as 
the renewed warmth toward ornament m poa- ^ 
modem architecture. Lynes believes that the y 

tension between high and mass art "has proven 

to be beneficial'' to both. 

Yet it is precisely in Ms metier — the hi story 
erf American taste — that Lynes proves most 
dkannohiting- He appears to lade other the 


she reports —a failing 

a contradiction in his 


Sohtffon to Previous Puzzle 


□E0E □□□[!□ HE! 03EI 

Eicon sciGina naan 
sBonanaoiDQ □□an 
EEUBaaaa aaciiDna 
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EQC3B E3EOEDEI □□□□3 
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tha t may s t«w from a contradiction m ms 
philosophy of ait. .. 

On the one hand, Lynes often implies that he 
accepts the so-called “institutional theory of 
an” that identifies art with what art mstitu- 
hnns recognize as art. Thus he writes that 
photography's stares as an art “seems to have 
been officially resolved as more and more 
museums have established coBectians of pho- 
tographs.” At the same time, alert to the logical' 

consequences that attend the theory — if U 
were true, could simply put groceries 

under g|a« — he regularly backs off from its 
relativism. “Like any museum,” he writes of 
the Museum of Modem Art in New York, “the 
Modem has fallowed the arts, it has not ted 
them.” 

Lynes’s willingness to fudge the issue leaves 
the reader critically adrift (tee would think 
that a hgcfrmim famed for his account of 
ephemeral taste, yet content to write *The 
Lively Audience” from American culture's of- 
ficial 1985 viewpoint (with ail the right names 
in), at least owes the reader a coherent aesthet- 
ic. For all the information in this book, , the 
debt goes unpaid. 

“The Lively Audience” thus suggests that 
the epic tale Lynes seems most intent cat recit- 
ing — the United Staxes's slow escape from a 
sense of cultural inferiority to Europe — re- 
mains unfinished. The aits we inherited from 
Europe enjoy prestige because of the grand 
theories Europeans Built around them: Ro- 
manticism, Art for Art’s Sake, the Bauhaus 
ethic — whatever it took to disHngnkh them 
from the ordinary activities and objects that 
the West never interprets, collects or honors. 
But “The Lively Aumence.'* Hke the culture if 
reports, is uncomfortable with theory, the one 
art that might make sense of its rich yield. The 
native audience for that, Lynes may realize, 
re mains to be found. 


CorSn Romano is the Sienay editor md aide ^ 


By Alan Truscott 


O N the diagramed deal. 
North-South hid briskly 


v-/ North-South hid briskly 
hi six spades. This was not a 
good contract, and South 're- 
gretted his optimism when a 
diamond was fed and he in- 
spected the dummy. 

A loser in each minor suit 
seemed inevitable- South cap- 
tured the diamond king with 
the ace and led a dub. He 
played the dub king, in the 
faint hope that West had 
ducked, and lost to the ace. 
When East now hesitated it 
was dear that he had no more 
diamonds and South was stiU 
in business. 

There was no way toprevent 
the declarer from ruffing out 
Che dub queen and disposing 
of the diamond loser in the 
dosed hand. But what about 
the potential heart loser? 

After a routine return of a 
trump from East, South would 


have had no difficulty. He 
would have - won in dum my, 
ruffed out the dub queen and 
returned to dummy with a 
trump. The diamond loser 
would have been discarded, 
the remaining trump cashed 
and a diamond ruffed. The 
lead of South's remaining 
trumps would then have, 
squeezed East in hearts and 
dubs. ' :■ 

East recognized the impor- 
tance of attacking South’s 
communications- If the heart 
queen could be removed from 
the dummy the impending 
squeeze would not quite work, 
leading a heart honor would 
not work if South held the 
nine, for he would eventually 
finesse against the remaining 
honor. 

East did the besthe could by 
leading the heart six. South's 
normal play at this point was 
the seven, and West’s eight 


would have left the defense on 
top. But South made a decision 
that was wrong in theory but 
right in practice He put up the 
heart nine. When this held, he 
gave a sharp look at j^st, 
whose good effort had now 
failed. ^ 

The slam now suceeded and 
East's team lost 13 mieraatioo- 
al match points. 


NORTH 
• KQ J 
VQI 
0S7B8 
*KJ»8 

WEST EAST 

♦ — *ms7.« 

. '.-.WJIfleS 
oqnasss ok 

* 7«42 + A QJ 5 

SOOTH (XT) 
4AB5433 
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4AJ 
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Both side* were- vulnerable. The 
bidding: 


1* Pan 3 ♦ 

6* Paas Pass 

West M the diamond ten. 



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INTERNATIONAL HERALD TRIBUNE, THURSDAY, OCTOBER 24, 1985 









!w, 

*L\--lrV 

"i 

«V.„ .... 

- ■' v 

'*■> Ltr. ~ 


■># :■ 






^Nations 

AMB 

■ l* l H. « 

.;.V 

■> , .^‘Ss Miami 
”* •<&., S® 1 Dl «» 
r-r , '•'i-.Shmt 
• ... ^J ij ’CJnCllNMJI 
"' ■'Ctevetgnd 
■••:[• „S.S*atH* 

• '■■ •»-, 

,•* ; ‘‘■'to^Fittsourgti 
•-I'Hj ; ^Raider* 

• • -'..i 2 England 

\ Kansas Ctty 

irartonapoils 
• -■. pw puWato 
v .•■r N/ 4o«*lon 
. 1 1 

■’• Ortv SJ«tS 
: j- . 'Rowers 

^Kcw England 
9mm 

."■■' iJu. Kansas Q>y 
•■- V [..'‘-^Indtatwiolto 
— ’ l,fi !e.'5«ame 
... ^ t:' BuHcfo 
i r.,. J Houston 
- j , n ■'"■■Miami 
. . . *1 v»5an DkM 

' u i. Cincinnati 

■ r 't hJ.. 






Football 


AMERICAN con fc renc* 
Total offense 

Var * Rush Pois 
J» s iMa- 

W 240 *27 20*} 

2471 *37 1454 

“ *• H7ft UM 

* «a» tin nss 

Wt 7Q law 

3377 TOa* las, 

0,1 2373 926 1444 

2230 790 1444 

atond 32U 774 1440 

21,9 SH 1513 

30115 3834 ion W 23 

TO4 597 1307 

1043' 755 1M7 

TOTAL DEFENSE 

Toed* Ru?tj Fan 
1934 470 12SJ 

1920 4*2 1344 

» 3011 B45 1144 

* 7029 m I3M 

"»«vt 2000 719 1349 

810S 019 1344 

Oty 2299 738 15*1 

2312 907 1405 

2U4 747 U97 

2*W 1170 mg 

2347 1077 1470 

2605 1020 1505 

» 2770 935 1045 

41 2810 034 an* 

individual 
Q uartartwdtx 


Bvner, CNv k . 




.■ .’ Foul*. sj>. 

133 

82 

1148 

10 

6. 

t— *. ; * 

_ 

; . <-Esfason. On. 

185 

109 

1336 

13 




• r - ’ j J ?>Sj. P1iHik*tt, Radn 
" i-jr , Herrmann. SXL 

103 

71 

003 

-3 

3 

“ 


126 

89 

1048 

4 

7 



• ':'RAartno k Mta. 

257 

157 

1851 

11 

■ 



-• » jOWrltn, jet* 

197 

118 

1447 

6 

4 



• G^iKennev. ICC 

193 

IDS 

1513 

10 

7 



‘ 'j\ ..Krtea. Sea. 

249 

138 

1739 

16 

10 



' ‘-^Dantetaon, Clev. 

124 

74 

*35 

9 

* 



. . Mo tone. Pin. 

1 tiKb> s 

214 

Rastwri 

110 

1377 

11 

7 


Rovfta, Mlo. 

Kart I*. Dan. '- 
Lcotnr. Jetc ' 
Unwary, tcc. . 
AMenoo, Pm, • 
NATIONAL 
TOTAL 

Qikaao - 

Dallas 

Giant* 

San Francisco ' ' 
Tampa Bay .. 

SL Loot* - ~ 
Minnesota . 
'Atlanta 
Green bow 
Washington 
New Orleans 
PMtadetaUa 
Rom* 

Detroit . 

TOTAL 

Otont* 

. Ram* 

W tat i toatou 

PhitodetoMa 
San Francisco " 
Oilcaoo 
Dallas 
Cnan Bov 
Mtanesota 
SL. Louts 
Tampa Bow 
New Orleans 
Detroit 
Atlanta . 


* 5 .1 ft 34 

rOQdtfn*) 

FAT FG La PI* 
7101 IMS . 43 40 

1MB MJt 40 59 
TM7 0-T7 J3 JB 
K-t* «.'|4* SI St 
,1W n-W 4159 
CONFERENCE ' 
OFFENSE 

Yan« Rush paw 
26>2 1974 140* 

■ 3443 ON - 1774 
2540 004 1736 

MM 102 1404 

2338 711 MB 

2203 059 . 1434 

22M 421 - 1434 

22S7 894.- 1343 

2353 988 . HAS 

2307 1147 1010 

9103 . 001 DOT 

are 7» j use 

19M:“91* 995 

1094 -447 1349 


. 2512 
•. 2519 
2593 
2647 

INDIVIDUAL 


ATT COM VOS ■ 
BartkOHOkL AIL ITT 49 738 


-T\ f- ATT YDS AVG LG TD 

-^C.McNelL jots .134 645 40 69 2 

" ,,Jr IfefWomW. Sea. 140 619 AX 23 5 

-- 'ten; i Alton- Raider* 144 597 4,1 


' " \^ lMOCk * CtoV - m 503 V 61 4 

- . ..^[BalL Burt. 132 *92 17 IS 4 

Receiver* 

" ; --VicrL? HO YDS AVG LG TD 

•• ^^Chrhlnsn. Rdrs 41 447 10.9 33 3 

" 1 5 ]< Stallworth. Pm. 39 452 114 27 3 

James, &X>. 30 450 11J 60 2 

Laroaat. Sea 37 541 144 40 4 

' ■* '-Nathan. Mia 37 377 102 73 0 

Punters 

• •-* U ' NO YARDS LONG" AVG 

' r. “-Stark. Ind. 33 1532 48 444 

1 1 **’ EfJloBy, Mta. 25 1139 63 4S4 

- -t Uj rL'BMSisleloniw, Si). 38 1709 63 454 

rLJahmon. Haa 39 1751 62 449 

“^ICamorlBa NJE. 48 2132 75 444 

“ T 35l'i: Ptmt Returners 

'■•’■itn- NO VDfi AVG t- G TO 

l WMk*r, Rodrs 1* 290 115 24 0 

' 'JQ^Fryar. N.E. 19 21] 11.1 05 1 

rjiSprlnas. Jets 11 122 ILI 40 0 

- ■_ HUL BuH. « W 114 25 0 

. .! pm. 11 130 io.» 30 o 

••• Bite,. Scoring (Touchdowns) 

' • ’ - irL-B*. TD Rush Rec Ret Pt* 

. ; .^ Brooks, Cla 0 5 3 0 41 

'i-KiPatoa Jets .0 6 2 0 48 

L^st-toP*. ««. 7 0 7 a 42 

'Turner, Sea 7 0 7 0 42 


Mack, Clev. 
BelL BuH. 


^ Baseball 

’-'t W7 T .1 O _ 


McMahon. CM. 
JawonkL PML 
Montana LF. 
Simms. (Monts 
Kramer, Mhn. 
D.wnHa DaU. 
Brock, Ram* 
Dicker, GJS. 
□a Bern. TA 



33 

1532 

40 


25 

1139 

43 


38 

1709 

43 


39 

1751 

42 


4B 

2132 

75 

f Returner* 


O 

YDS 

AVG 

LG 

19 

238 

12J 

24 

19 

211 

11.1 

85 

11 

122 

11.1 

40 

9 

99 

1U> 

25 

11 

120 

10.9 

38 


wilder, TA. 
Dorset!, DolL 
Riggs, AtL 
PovtoaCM. 
Tyler, SJ. . 


Crate. SJ. 
Lofton, G_& 
HIILOolL 
B-hUmson, Art. 
Wlldec, T3- 


Londata Giants 
Buford, ChL 
Saxon, DolL 
Coleman, Mlm. 
Btrdsona su_ * 


. M0 Wt 1534 
■13* 79 1058 

.227 m 1530 
‘ ZB 130 1941 
250 US 175* 
217 12* 1437 

142 . 94 1170 

149 79 1906 

340 134 1714 

Rushan 

ATT YDS AVG I 



Royals Defeat Cardinals, 
Who Have Bumpy Night 






TWAOOCSMdPlBi 


George Brett, who reached base aO five times, was less successful breaking up a double 
play in the first i nn i ng when be flew past the Cardinals’ second baseman. Tommy Herr. 


148 

471 

A0 

34 

4 

-135 ' 

457 

42. 

35 

3 

154 

632 

4.1 

23 

3 

115 

534 

U 

» 

4 

*5 499 

Receiver* 

S3 

26 

2 

NO YDS AVG 

LG 

TD 

40 

458 

11J 

44 

4 

37 

. 578 

ISA 

34 

2 

37 

589 

13J 

. 49 


37 

477 

09 

<2 

4 

34 220 

Footer* 

4.1 

17 

0 

NO 

YDS 

LONG AVG 


32 1444 a 454 

30 1365 49 45L5 

30 1351 57 454 

30 1323 42 44.1 

34 1540 64 4U 


World Series 


IX rK 


■Smith H 
-Uns If 
Vllsoncf 

-4retf 3b 

Unit* 3D 
. .•,j u ,H» r «ln rf 
*--ndhra c 
•• jOlathn 1b 
;--r JlndhAS 
“■"tebrhan p 

r-L'ibrotal* 

- “IS L 1 


WORLD SERIES: GAME 3 
Kansas atv 

ah r h 2b 3ta hr rtil po a 
i 5021002 10 

I 0000000 TO 

I 5020000 3 0. 

3 2 2 0 0 0.0.. 2 3 

4 2 2 1 0 1 3 1 3 

f $ 0 0 0 0 . 0 , 0 JO 

3 J 1 0 0 0 0 0 2 

4 0 0 0 a 0 0 .9 0 

i 3 1 2 0 0 0-1 11 

P 3000000 00 

35 4 11 3 0 1-4 27 9 
SL Louis 

00 r h 2 h 3 b hr rM po a 


NO YDS AVG l 
El lard. Rums 13 230 " MJ 

Jenkins, wsh. 11 130 123 

Mandlev. DeL 10 214 124 

J3mtth. SLL. 10' 113 1U 

Stanley, GJL 11 110 107 

fCWtH CTDOChdDWMl 
. TD Rush Rec 
Cnala. S-F. 9 5 4 

Payton, ChL '7 4 1 

□fckcnaa Ram 6 4 0 

McKbuian, ChL 6 0 4 

Brown Mm 5 3 2 


Butler, ChL 

Andersen. MO. 

. LuckhursL AIL 
Saotton, Dan.' 
laweholke, TJL 


9 5 4 

'7 4 1 

urn 6 4 0 

1L . 4 0 4 

5 3 2 

Scaring (HcKHhO . 

PAT FG 
2424 ,14-H 
X - 15-14 13-16 

t . . 15-15 U-(3 

2M0 11-19 
' '15-14 n-TS 


4 .0 

1 


0 

0 

0 

1 

0 

0 

Olxon. Edm 


0 43 23 13 125 

4 

l 

1 


0 

0 

a 


5 

0 

Dorsev. OH 


0 23 24 12 113 

3 

0 

1 


0 

0 

0 

2 

1 

0 

Hav. Cat 


0 1* 25 17 111 

4 

0 

1 


a 

0 

l 

9 

0 0 

RMowav. 5ask 


0 22 22 14 102 


0 

0 


0 

0 


1 


0 




4 

0 

1 


0 

0 

0 

0 

0. 

0 


RUSHING 


3 

0 

0 

0 



0 

8 

1 




No.YOsAveTD 


0 

1 


0 


0 


0 


-Reaves, Wag 


2S2 1277 5.1 8 











-tonkin*. B.C 


190 wa si b 











Hobart, Ham 


95. 778 S2 4 






0 



0 


Dunigan. Edm 


99 638 44 8 


0 








0 

Watt*, Ott 


84 583 AS 1 











Jones. Edm 


77 510 4.7 4 


0 

a 


0 

0 

0 

0 

0 

0 

Eflb. Sack 


142 515 36 12 

n 

1 

4 


• 

• 

1 

27 

8 

0 


PASSING 



— 'ji no I naxnr rut po a ■ 

McGe'ct 4.0 I 0 0 0 0 100 

. 1 OSmth si 4 1 1 0 0 0 0 1 5 0 

Herr 2b 3010000 310 

Clark lb 4010001 900 

• -\-vnsMt n 400 DO 00 too 

.- •':!.rpndl»n 3b 4 0 I 0 0 0 0 0 0. 0 

. Porter c 3000000 010 

Lndrm a 3010000 4 00 

Andulr a 1000000 010 

. Cmabll a 0000000 ODD 

' Jransn ph Toeoooooon 

^ortwi p 0 o 0 0 0 0 0 100 

w-Hrpr ph 1000000 000- 

* ’• Dav lev a a 0 a 0 0 0 0 000 

Totals 13 1 6 8 0 0 1 27 8 0 

' Kansas aty M 228 00B— 6 

SI. LOUIS 000 001 000—1 

.GW RBI— LSmHh (11. D P -Ka ns as aty 1. 
SL Lout* 1. LOB-Kansasatvn.St. LoutoA 
; - SB— Wilson < 31 , McGee (11. S — Stexrtiogan. 
BK— Horton. 

*“ lo-orounded out lor Comsteell la Situ b- 
> grounded out tor Horton In 7th. c-tletdrd for 
4 LSmlth bi BthJ 

r ** ‘ PITCHING 

Kansas aty . 

,n. ^ Ipbrarbbio 

11 Sobrhagn W.1-0 9 6 1 1 1 0 

• SL LOOlS 

Ip h rorbbu 
AMulor L4-1 4 9 4 4 2 3 

Campbell 1 0 0 0 0 2 

Horton 2 2 2 2 2 1 


CFLLeaders 

. — . . SCORING 

KenoertirWpB 
Pemulb, B.C 
RuoH. Ham 


TD CFG S Pt* 
0 42 40 T9 101 
0 42 35 21 140 
.0 20 28 Zl 127 


Dewaft, B.C 
Clement* wpg 
Barnes, MB 
Pabnaa. Sank 
Duntean, Edm 
Watts, on 


Fernanda. B.C 
Boyd, Wpo 
P opiawskL Wpg 
Etenard/Sask 
Greer, Tor 
Talbert, CM 


AH Com Yds IC TD 
421 3»l 3621 11 21 
( 397 240 347V 17 16 

412 244 3134 21 12 
409 245 3110 18 0 
1 357 219 3100 19 14 

399 212 2651 19 11 
377 MS 3103 13 14 
RECEIVING 

NoYdsAveTD 
C. 83 1445 17.7 n 

49 1235 17J> 12 
« 70 1191 17.1 6 

76 1132 U9 4 
- 49 1113 14.1 S 
45 1047 14.1 5 


SPORTS BRIEFS 

Baseball Owners End Drug Program 

ST. LOUIS (NYT) — The owners of the 26 major league baseball 
teams voted unanimously Tuesday to terminate the joint drug program 
created 18 months ago by the dubs and the Players Association, and said 
that it could not work without testing players for drugs. 

The derision was announced in a news release after a meeting of the 
owners called by Peter Ueberroth, the commissioner, before the third 
game of the World Series. They heard a report from Barry Rona, chief 
counsel of the Player Relations Committee, who said that the committee 
had been unable to make any substantial progress in reaching a drag- 
testing agreement with the union. 

The players’ union has resisted mandatory tests, maintainin g that such 
tests would violate the players* rights. Bob FIshri, executive vice president 
of the American League, said the owners “have the right to terminate the 
agreement unilaterally” and that “we hope to get something else.” 

NBA Fines Ewing $1,500 for Fight 

NEW YORK f A P) — Patrick Ewing, the highly touted rookie of the 
NBA's New York Knicks, has been fined a total of $1,500 for his part in 
an altercation with the Indiana Pacers’ Steve Sripanovich. 

The league also announced that Maurice Lucas of the Los Angeles 
Lakers ana Sly Williams of the Boston Critics each was lined $1 ,000 Tor a 
light in an exhibition game Saturday. 

Sripanovich was fined a total of $1 ,000, $750 for escalating the incident 
and $250 for automatic ejection. The 7-foot Ewing was fined 51,250 for 
starring the fight and $250 for automatic ejection. The Knicks' Rory 
Sparrow was fined S5Q0 for jumping into the confrontation. 

For the Record 

Bobby Cox, who played in the mqor leagues for two years and 
managed for eight years, has embarked on his new career with the most 
lucrative contract ever given a general manager, a five-year, 52.25 million 
deal from the Atlanta Braves. (NYT) 

Tony LaRnssa has accepted a one-year contract to return as manager of 
the Chicago White Sox in 1986, the club announced. (AP) 

The Palais des Sports in Grenoble, France, showpiece of the 1968 
winter Olympic Games, was partially destroyed by fire Wednesday and 
the annual Grenoble six-day bicycle race, schedule! to sun Ocl 30, was 
canceled. (UP!) 


Simmer Pains 

Kings Again 

Iju Angeles Turns Sertjee 

INGLEWOOD. California — 
Left wing Charlie Simmer and rite 
Boston Brains are on a rolL 

Simmer, the leading goal scorer 
in the first two weeks of the Na- 

MIL FOCUS 

tional Hockey League season, 
scored two goals and bad one assist 
Tuesday night as his Bruins beat 
the Los Angeles Kings, 5-2. 

Simmer, who was traded by the 
Kings to the Bruins for a first 
round draft pick on Oct. 23. 1984, 
has 10 goals and 4 assists m 7 
games, with two hat tricks already 
this season. Brian Prcpp of the 
Philadelphia Flyers is second in the 
NHL in scoring with 7 goals and 5 
assists in six games and Wayne 
Gretzky is third with 3 goals and S 
assists in 5 games. 

In other NHL games Tuesday- 
night, the New York Islanders and 
Vancouver Canucks tied, 2-2, and 
the Minnesota North Stars beat the 
St Louis Blues, 5-4. 

It was the third straight loss for 
the Kings and their sixth in seven 
games; last year they lost six and 
tied three before winning. 

But the Bruins are off to a 5-1-1 
start under their new coach. Butch 
Goring, who celebrated his 36th 
birthday by beating his former 
learn. Goring played for the Kings 
from 1969-80 before he was traded 
to the New York Islanders. 

The Kings, who gave up goals on 
the first two shots of this game, 
have allowed 41 this season to tie 
Toronto for the most goals allowed. 


By Thomas Boswell 

It'asfungiim Post Senue 

ST. LOUIS — The Budweiser 
GydesdaJex ran out of control be- 
fore Tuesday night’s World Series 
game, almost barreling into the 
right field wall of Busch Stadium 
with the 86-year-old owner of the 
Cardinals, Augie Busch, aboard the 
beer wagon his team of horses was 
pulling 

Then, Busch's baseball team 
took an old-fashioned 6-1 licking 
from the desperate Kansas City 
Royals in Game 3 of a World Series 
that suddenly could shift direction 
if the Cardinals are not wary. 

Tbe Royals got a six-hit victory 
from 21 -year-old expectant father 

Bret Saberbagen, a two-run double 
from Lonnie Smith and three runs 
batted in from Frank White, two 
on his 425-fooi f 129-meter) home 
run and one on a double. George 
Brett also tied a Series record by 
reaching base five times in a row. 

The Cardinals had to swallow 
another brutal shelling of 21 -game 
winner Joaquin Andujar. whose 
arm seems dead. He now has al- 
lowed 30 base runners and 23 hits 
in 14 postseason innings, and a .37] 
batting average by opponents. His 
manager, Whitey Herzog, indicat- 
ed that Andujar will not start again 
this Series. 

The visiting contingent in this 
Show Me Showdown siill trails, 
two games to one. Bui tbe Royals 
sure changed their outlook Tues- 
day night. The Cardinals have 
managed only 19 hits in three 
games against the three pitchers 
they will see again if this Series goes 
seven games. 

“They’ve preUy well put the ka- 
bosh on us,” said Herzog. “The 
way we've hit, we could be down 3- 
0 .” 

If it was mandatory that the 
Royals win this game, then 
Wednesday night's affair is almost 
equally vital to the Cardinals. It is 
their one remaining mismatch — 
on paper — with John Tudor, on a 
22-2 streak, facing a very mortal 
Bud Blade, 10-15. If the Cardinals 
win, they would have their ham- 
merlock back in place. Should Tu- 
dor lose, the Royals might find 
themselves favored to win the Se- 
ries. 

And Tuesday night, except for 
consecutive singles in the sixth by 
Ozae Smith. Tommy Hen- and 
Jack Clark, the Cardinals barely 
dented 20-game winner Saberha- 
gen. who had won 12 of his last 13 
decisions. 

His pregnant wife was overdue 
for their first child. His team was 
behind, two games to none, and be 
was facing the best-hitting team in 
the National League in the park 
where it won 54 games and lost 
only 27 this season. So what did 
Saberhagen do? Struck out eight, 
including the Cardinals' slugger, 
Clark, three rimes. 

“For his age. I’ve never seen a 
pitcher do the things he did with 
the basebalL" said Herzog. “He 
struck out Clark and Van Slyke in 
the ninth on change-ups.” 

“What Saberhagen ’s got, I can't 
explain.” said the Royals' manager, 
Dick Howser. “But he's had it from 
the first rime I saw him in the 
minors.” 

Howser added that “Bret did not 
have a perfect game. He missed a 


take sign. I plan to speak to his 
agent about it." 

No team has ever lost a World 
Series after winning the first two 
games on the road, os the Cardinals 
did in Kansas City. But the omi- 
nous portents certainly began early 
for them this rime. During pregame 
ceremonies. Busch, who tends to- 
ward a Roman style, was being 
wheeled around the field on a huge 
beer wagon when the eight enor- 
mous GydesdaJes suddenly would 
not stop turning ever more sharp- 
ly. As the wagon careened over tbe 
mound, the driver split his rime 
between the reins and trying ro 
keep Busch from being chucked to 
the turf. 

Then the Clydesdales lumbered 
toward the right field wall, scatter- 
ing a dozen marching band mem- 
bers at the warning track. At the 
last moment, the horses cut right 
and barely made it through the nar- 
row gap in the fence. 

One Cardinal who did not escape 
was Andujar. The only back-to- 
back 20-game winner in baseball 
tfie last two seasons, he managed to 
strand six Royals on base in the 
first three innings. White hit a two- 
on grounder through the box in the 
first, but because both runners 
were going Herr was near second 
base and started a double play. In 
the second. whaL looked like a 
home run by Balboni was caught 
when Tito Landrum jumped to 
glove it near the top of the left field 
fence. In die third. Pat Sheridan 
struck out with the bases loaded. 

Then the luck ran out. 

Andujar walked .245 hitter Jim 
Sundberg to siart the fourth, then 


forgot to cover first base on a chop 
by Buddy BiancaJana, producing 
an infield hit With two out Lonnie 
Smith sliced a liner to right-center 
that west for a two-run double 
when Andy Van Slyke tried for a 
diving catch he could not make. 

Brett lashed the first strike of the 
□ext inning into right field and 
White hit the next pitch — either a 
very slow fast ball or a very straight 
slider — far over die wall in lefL 

“If we'd lost tonight it would 
have been a long, long road ahead,” 
said Brett, who had two singles, 
three walks and two runs scored, 
missing a double by an inch before 
one walk. “After the way we lost 
Sunday, ! thought we came back 
and played a great game. A lot of 
teams can’t do that but ours, for 
some reason, can.” 

"■ Brett Ties Record 

Brett, became the seventh player 
in WoTld Series history to reach 
base safely five times in one game 
while batring 1.000 Tuesday night. 
The Associated Press reported. 

The lasL player to reach base five 
rimes was Reggie Jackson for the 
New York Yankees in 1981. Babe 
Ruth did so in Games 4 and 7 of die 
1926 Series. Lou Brock of St. Louis 
in 1967, Brooks Robinson of Balti- 
more in 1971. Rusty Staub or the 
New York Mets in 1973 and Kiko 
Garcia of Baltimore in 1979. 

Paul Molitor of the Milwaukee 
Brewers holds die record for roost 
hits in a Series game, five against 
Sl Louis in 1982. But he batted six 
times in that. game. 


White: Hitting a Home Run 
Is f a Dream Come True’ 

By Ross Newhan 

Los Angeles Times Service 

ST. LOUIS — By replacing designated hitter Hal McRae in the Kansas 
City batting order, Frank White has become the first second baseman to 
hit cleanup in a World Series since 1952. A man named Jackie Robinson, 
then with the Brooklyn Dodgers, was the last to do so. 

“1 didn't know that until after the first game in Kansas Gty," White 
said Tuesday night, “and it really didn't sink in until my dad and wife 
started talking about it 

“I mean, the more we all talked, the more excited I got about it 

“It's really a great feeling. Jackie Robinson meant a lot to me. It’s too 
deep to go into, but you know what he did for the game and what be did 
for most every black player. 

“In fact, when I first came up to the big leagues, I thought about asking 
for No. 42, but then I didn't want to carry it for my entire career. I didn’t 
want to face the pressure of the comparison. I wanted to make my own 
name. I wasn't any different than any other young player.” 

Frank White had made a name for himself before Tuesday night, 
before the third game of the World Series, but he did it this rime in a 
manner he had only dreamed about. Hitting a pivotal home run in a 
pivotal Worid Series game — as the cleanup hitter. 

“It's a game of dreams," White said, “and this is a dream come true. I 
never thought I'd hit a home run in a Worid Series. I never thought I’d hit 
cleanup. Never mind a World Series game. I never thought I’d hit cleanup 
in a regular-season game or in a spring training game." 

He now has three doubles, two walks, one homer and one single in his 
last nine at bats in the No. 4 spot. 

In 13 seasons. White’s forte has been defense. He is a six-time Gold 
Glove winner with a 259 career average. He has averaged only eight 
homers a year, a modest figure that would be even less if he had not hit 1 7 
in 1 984 and a career-high 22 in 1985. In '85. he occasionally was employed 
as the No. 4 hitter, primarily against left-handed pitchers. 

He had hit only one other homer in 37 previous postseason games. 

“I just don't believe it happened.” White said. “If I was Joe Morgan 
with more than 200 homers, maybe. But I just went over 100, and I never 
thought that would happen either. 

“I mean, when I saw where the ball went I said to myself, ‘Was that 
you?' And when I got to the dugout ihe guys were staring at me as if to 
ky. ‘How did you hit it that far?' ” 


NBA Begins 40th Season With Some New Faces, Old Favorites 


Daylev 
Totals 
A — 53*34. 


0 0 0 2 3 
IT 4 f 4 0 


!" - WORLD SERIES SCHEDULE 

J-J W Oct 19 

I* , St. Louts 3, Kansas Cttv I 
Oct 20 

V . St Louts 4. Kansas Cttv 2 
j, ‘ Oct 22 

* ? Kansas CRY 4. St. Louis 1 

•r Oct. 23 

Jjf KansasOty (Black 10-151 at SL Louis (TU- 
eor 214] 

iv octa« 

: . Kansas Otv at St. Louts 
vj». 00.24 

• ■ jc- 51. Louis at Kansas atv 

7* Od. 27 

>7 r x-5L Louis at Kansas atv . . , 

t, ° U-H naceaarvl 


c": Hockey 

!>■.; NHL Standings 


WALES CONFERENCE 
Patrick Division 

W L T Fh OF SA 


' Ptrtladttahla 

4 

2 

0 

r 

24 

17 

New Jen by 

3 

7 

0 

6 

1* 

16 

Washington 

2 

3 

1 

5 

IT- 

20 

NY Islanders - 2 

2 

I 

5 

18 

20 

'•. »Y Rangers 

2 

4 

0 

4 

19 

2S 

Pittsburgh 

1 3 1 

Adam* Division 

3 

16 

20 

) * Quebec 

7 

0 

D 

14 

28 

12 

Bosun 

5 

1 

1 

11 

35 

16 

Hon tart 

4 

] 

0 

8 

29 

19 

Buffalo 

3 

2 

1 

1 

25 

U 

Montreal 

2 

4 

0 

4 

21 

32 

CAMPBELL CONFERENCE 
> Norris Dlvtetoe . . 


St. Louli 

3 

2 

0 

6 

17 

11 

Mirmeseto 

2 

3 

1 

5 

28 

D 

Chicago 

1 

4 

T 

3 

19 

29 

Toronto 

1 

A ' 

0 

2 

14 

18 

D*lroil 

0 S 1 

Smvltw Division 

1 

H 

41 

Edmonton 

S 

0 

ft 

10 

27 

17 

Vancouver 

3 

2 

2 

8 

26 

U 

Winning 

3 

3 

0 

6 

24 

28 

Calaary 

3 . 

3 

0 

4 

24 

21 . 

U» Angotfo 

1 

4 

0 

2 

26 

41 


Transition 

BASKETBALL 

National Baskteball AMsdaTkn 

BOSTON— Walvud Carlas Clark. more. and 
DavM TMrdMlL forward. 

CLEVELAND— PloeM LwmtaSMfton. for- 
ward-canter. and KoHti Lao. forworn, on the 
Ihturad IbLWuhmd Oorricfc Rowland, ouard- 
forwanl 

DENVER— Woivad Jo* Knpfekl. forward, 
and Barry Stamms, guard. 

DETROIT — Cut waikor D. RwssIL Board. 

. INDIANA— WatvM Jamas Banks. 'for- 
ward; Toav Brawn, swkwaan. and Dwtahl 
Ancterattl ouard. 

I— A. CUPPERS— Wtrtvtd Swan NaMr.es>*- 

MILWAUKEE— Cut MetCMev Stnafotoa. 
ouard; Bov Knioht, forward, and Mark Mc- 
Namara, canter. Placed Chart** Davis, for- 
ward, onTto fo lured list. 

NEW JERSEY— Waived Ron Brewer, 
guard. 

. NEW YORK— Walv*d Edmond Sberod and 
Clinton Wheeler, ouard*. 

. PHOENIX— StenedGaoral Gteuadcov. for- 
ward, to e two-ye ar , coni ro d . 

UTAH — Waived Kenny Naft, forward. 

WASH IN G TO**— Waived Tsoy Costner. 

Tom Se w e ll and Guv .William*. Placed Frank 
JahMWt, aware. the tnlurtd raterv* VaA. 

HOCKEY 

. . National Hockey League 

- DETROIT— fi*f|9 Oiri* Pvmy. E Q oHw id w. 
to Adirondack of the American Hockey 

■ Uranus. . ■ ■ ■ 

MONTREAL— Sent Kent Corlwi ana oom- 
Inle Camped* id. defensemen, fo stterbraoke 
of (he AHL. Sent Shan* Conan, forw ard , to 
Hamilton at the Ontario Hockey League. 

N.Y.ISLANDERS— Recalled Scott Hnwaon. - 
center, and Mark Honwnv. forward, tram 
Springftetd, Mass, of the AHL. 


Soccer 


TUB* DAY-* RESULTS 

Vr Vancouver 8 2 8 0—2 

r ■ N.Y. Ulander* ft 1 

O Swl (3). Gradln 1 1 J ; MaMta (21# Bossy Ml. 

£ . Sbatsongwi; Vancouver (an Hruoev) .13-11 - 
. ' • ID- J— WfN.YJsionders (an Coarte*) 4-74-1— 

SL Lotus . 2 1 .1—4 

ri.V Minnesota 2 2 .1—6 

j,'4 Acton HJ. Bliiastod (21, Levto (1). McCor- 
*** t>l< Lawton ( 2 >: Meooher (11. Federlw 
‘ei (SLLovoll** (7), Hunter l3J.S4H»s*n*oai: SI. 
L f Louis (on Metanaanl t-ll-U— JJi Mlmosam 
k - (on Mil ten) 1S-E-7— 4*. 

..<■ Boston I i W 

? Lot Amies • i 1—2 ' 

P*d*rson (4i,simn>cr2(ia],Lvkowicn ill. 

/ Kasper 121 ; Smith 2 (ai-'ShMt en *eal: Beetan 
, ion Eltatll3-7w—24:u»Ang*<M (an Keans) . 

. . 11-9-I3-33. 1 


- WORLD CUP QUALIFYING 
Oceania Zone 
(At Adefoio*. Australia} 
Australia 7, Taiwan 0 
Stand logs; Australia 6; Israel, Hew Zea- 
land 5; Taiwan a. ; 

Ramalafog Matches; OeL 26, Now Zealand 
vs. Israel; Oct. 27. Taiwan wi Australia; Nov. 
3. Australia us. Kew Zeatand; Nov. ML Israel 


CHAMPIONS* CUP 
(Second Round. First Leal 
Zenit LsnlnaraB 2. Kuasvsi Lahti 1 
Honved i. show Baenorasi o 

CUP WINNERS' CUP - 
. (Second Round, Find Lag) 
UnJvorsItflteo Craiova 1 Dynamo KJav? 
Bangor Cltv a Altettea Madrid 2 
Dufcia Prague L AIK kUMm • - 
HjK MefoinW 1, Dynamo Ormodn a 
' ' UEFA CUP 
(Second Round, First teat 
Dinamo Tirana 0. Snorting Lisbon fl ; 
Vldaoton A Lento Wursaw-1 
Lokomotiv Salto L-Ne u e l totel Xtvnax t 
Soon ok Moscow L fc a runes 0 
Partieon Beforode T. Narines 1 . . 


By Anthony Cotton 

Washington Post Service 

WASHINGTON — A year ago, the National Basketball Association 
, was coming off what league officials thought had been their best season 
ever. They had solved major problems in the areas of labor and drag 
abuse, attendance and television Tarings were up. and ihc^r wondered 
what could be done for an encore. 

As it turned out, little was needed apart from playing tbe game. 

Turnstiles again clicked to a record beat while Isiah Thomas, Charles 
Barkley and Michael Jordan played with unbridled enthusiasm. 

There were surprise teams like the Denver Nuggets, Milwaukee Bucks 
and, of course, the Cleveland Cavaliers, whose playofT performance 
almost spoiled that championship rematch between the Boston Celtics 
and the Los Angeles Lakers. 

When that final series ended, the Lakers bad avenged the previous 
season's defeat, as well as a string of eight straight playoff losses to 
Boston. 

The title so invigorated Kareem Abdul-Jabbar, the most valuable 
. player for the Lakers, that after a summer of reflection, he made plans to 
re-enlisi for another two seasons. 

Indeed, why leave when you and tbe NBA dearly have a good thing 
going as the league heads into its 40th season Friday. 

EASTERN CONFERENCE 
Atlantic Division 

Boston Celtics: Both championship finalists made moves in the offsea- 
son, designed mainly to help against the other team should (hey meet for 
a third consecutive time. Two of the game's most unselfish players, Lany 
Bird and Bill Walton, the latter acquired in the offseason from the Los 
Angeles dippers. wQl be playing together for the first time. The Celtics, 
who already bad one of the best three benches in the league, gpt even 
Stronger with the addition of Walton, Sly W illiams, steady veteran Jeny 
Si ch ring and first-round draft choice Sam Vincent. 

Washington Ballets: Surprise of surprises, this team has one of tbe 

other (along with the Lakers) deepest squads in the NBA. Although they 
do not have the name players of the league’s glamor teams, the Bullets 
have quality in such as Charles Jones, Frank Johnson, Darren Daye and 
Dudley Bradley. And if ihe 7-foot-7 (23-meterj Manure Bd can measure 
up to the NBA game, he will be a valuable defensive asset 

Tire problem hoe is the starters. Jeff Ruland, Dan Ro midfield, Cliff 
Robinson, Gus Williams and Jeff Malone diher have been sll-stara or 
have die potential to be. But how healthy can they remain and can they 
peacefully coexist? That did not seem to be a problem during the team's 
>2 exhibition season, but then again, Roundfidd did not play at all 
because of a broken bone in his left arm. 

PMadrfphiH 76ers: All-star guard Andrew Toney's ankle is hurting smd 
may require surgery. All-star center Moses Malone’s knees are wearing 
down under (he grind of non-stop basketball over the past 10 years. All- 
star forward Julius Erring looks marvelous after a summer of weight 
lifting, but muscles can not hide the fact that he is 35. Bat despite all that, 
do not Ire surprised if the ream wins 50 games for its first-year coach, 
Matty Goukas. 

New Jersey Nets: Another first-year coach, a former assistant for the 
Lakers, Dave Wohl, parlayed his insights into the game into the job- Thai, 
along with a degree in pop psychology, may come in handy when dealing 
with such unique personalities as Micheal Ray Richardson, Darryl 
Dawkins and Otis Birdsong. Wohl does have two constants: power 
forward Bud: Williams and center Mike Gimnski. 

New Yotfc Knicks: Fans in the Big Apple fed that they already have the 
best center in the league in top draftee Patrick Ewing, although the 


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former Georgetown star must learn to keep his elbows and temper in 
check. 

But Ewing is not going to bring the baH up court, or make the jump 
shot from the top of the key, or replace the 30-phis points per game from 
NBA scoring leader Bernard King, out with an injured knee. The coach, 
Hubie Brown, does not even talk about King when discussing this 
season's ream, and with good reason: King probably will not return 
before February. Bv that time management may be thinking about who to 
draft next season. 

Central Divigoa 

Milwaukee Bucks: It has been tough the last couple of years to not 
place tbe Detroit Pistons atop the division, but not as tough as the Pistons 
have found it to best Milwaukee's Don Nelson, last season's coach of the 


year. Nelson said 1 984-85 was his roost rewarding season. The reasons 
why — Sidney Moncrief, Terry Cummings and Paul Piessey — are all 
back. 

Detroit Pistons: A question of addition and subtraction. Rick Mahom, 
acquired from the Bullets, and his aggressive play should be a plus. But 
Terry Tyler still is a holdouL 

Cleveland Cavaliers: George Karl, perhaps the true coach of the year 
last season, must prove that that finish was not a fluke. Or that his 
tenuous peace with World Free was not either. 

Chicago Bulls: An 0-8 preseason left Michael Jordan wondering if his 
teammates were getting too accustomed to losing The new coach. Stan 
Albeck, says that will not be the case. 

Atlanta Hawks: If the Hawks had Jordan, their problems might be 
solved. Instead, their starting guards are 5-7 Spud Webb and 6-8 
Dominique Wilkins. 

Indiana Pacers: Wayman Tisdale, once he gets into shape, will only add 
to a strong front line. The Pacers' problem is their shaky back court. 

WESTERN CONFERENCE 
Midwest Division 

Denver Nuggets: Another team that is out to prove that a superior job 
of coaching and subsequent outstanding record were not flukes. Doug 
Moe's pressure defense will be helped with a full recovery from knee 
surgery by tough guy Calvin Natt. 

Houston Rodiets: This could be the Southwest's version of the Tower- 
ing Inferno iT the Rockets do not at least make the conference finals. 
Despite “twin towers" Ralph Sampson and Akeem Olajuwon. they will 
not unless they improve their backcourt. 

Dallas Mavericks: There are enough small forwards on this team to 
stock the next three expansion franchises. The guards also are talented, 
but whither the pivot? 

Utah Jazz: Mark Eaton is back after setting a league record for blocked 
shots in a season. Adrian Damley will get his points but Darrell Griffith, 
a free agent who is recovering from a broken foot, will be missed. 

San Antonio Spurs: One of the better teams in the league three years 
ago, tbe Spurs are getting old. This may be the Iasi hurrah for George 
Gervin and Artis Gilmore. 

Sacramento Kings: The franchise's move from Kansas City will not be 
enough to hide the fact that this team still has some talent but little sense 
of cohesion. 

Pacific Division 

Los Angeles Lakers: Newcomer Maurice Lucas will not have to make 
his presence felt until the championship series. During the regular season 
he can coast alongside Abdul-Jabbar and leave toe driving to such 
greyhounds as Earvin Johnson and James Worthy. 

(Wtiand Trail Blazers: This team is making noises about its potential. 
It will be good, but not up to the Lakers' level. Gyde Drexler and Steve 
Colter may supplant Jim Paxson and Darnell Valentine in the backcourt. 

Seattle SuperSooks: A bouquet to the motivational skills of former 
Washington assistant Bernie Bickerstaff. Hie change in coaches will help 
a strong front line, but Bickerstaff is too old to play guard himself. 

Phoenix Suns: The Suns would like to fast break this season but that is 
virtually impossible without rebounding. Walter Davis appears to have 
recovered from last season's knee injury, but not having Lany Nance, a 
holdout, will hurt this team. 

Golden State Warriors: The return of Joe Barry Carroll may or may not 
help. First-round draft choice Chris Mullin will, when and if he signs a 
contract. 

Los Angeles Clippers: Some great names on the roster Marques 
Johnson, Cedric Maxwell, Jamaal Wilkes and Junior Bridgeman. But 
who is going to rebound the basketball? 









Page 18 


P P^ 


sa 

1 rc 

1 in 


ART BUCHWALD 


Mending U. S. Fences 


W ASHINGTON — Now that 
the Achille Laura hijacking 
crisis is over, many fences have to 
be mended. 

“Which ones?” I asked the State 
Department man in charge of fence 
mending. 

“Egypt’s, for one.” 

“Why are they oat of sorts?" 
“Because we forced their jetliner 
with the PLO hi- 
jackcrs down 
over Italy ” 

“What's 
wrong with 
that?” 

“Egypt is one 
of our riosest 
friends, even 
though they lie a 
Iol” 

“Why did 
they lie to us this Bucbwald 
time?" 

“Because Mubarak wanted the 
terrorists out of bis country as fast 
as possible, so the PLO would not 
organize another hijacking against 
Egypt to force the first thugs’ re- 
lease." 

“How would you describe Presi- 
dent Mubarak's posture at this mo- 
ment?" 

“Shocked and miffed. But it isn’t 
his fault. If he didn't publicly take a 


'Colonists’ Replica 
limps to Virginia 

United Press International 

J AMESTOWN. Virginia — The 
replica ship Godspeed, plagued 


United Press International 

J AMESTOWN. Virginia — The 
replica ship Godspeed, plagued 
by ill winds, hurricanes, calms and 
crew dissension, arrived off James- 
town Wednesday, ending a six- 
month voyage from England re- 
creating the trip of the New 
World's Hist permanent settlers — 
who made the original voyage a 
month faster. 

The original voyage began Dec. 
20. 1606 and ended May 13, 1607. 
The Godspeed was to be docked 
alongside replicas of the other ships 
that survival the 5 .000- mile (800- 
Itilotneter) voyage in 1607, the Dis- 
covery and the Susan Constant. 

The 68-foot (20-meter) sailing 
vessel, a replica of the ship that 
brought English settlers to James- 
town. had been expected to make 
the journey in 10 weeks. It had to 
wait out the hurricane season in 
Puerto Rico. 


tough b™ with the U. S. the reli- 
gious fundamentalists would chop 
off his head." 

□ 

“What a boat Italy's fences?" 

“We have to maid than because 
we violated Italian air space to 
bring down the Egyptian airliner 
flying the terrorists to Tunisia." 

“Weren't the Italians glad that 
we forced the plane down on their 
soUT* 

“No, they thought we played a 
dirty trick on them. Italy has such 
good relations with the Palestinians 
they didn't want to ruin (hem by 
having to deal with a few malcon- 
tents who took over one of their 
Italian cruise vessels. What broke 
the camel's back for the U. S. was 
that after we forced the Egyptian 
plane to land in Sicily. Prime Min- 
ister Crari released Abu Abbas, 
who allegedly was the brains be- 
hind the entire mess." 

“I'll bet Oran's sorry now." 

“He is. Even the prime minister's 
own government was appalled that 
he gave Abbas a free ticket to Yu- 
goslavia." 

“So when do we have to mend 
fences with Italy?” 

“The sooner the better. Up until 
the hijacking Craxi was our best pal 
in NATO’s southern flank. The 
only ones who hated him were the 
Fascists and Communists." 

□ 

“What’s the bottom line?" 

‘The bottom line is the U. S. has 
proved that it will follow terrorists 
to the ends of the earth. But Egypt’s 
going to need some strong fencing 
till we become friends again." 

“How much fencing?" 

“Would you believe $2 billion?" 

“Now what about Italy? Who 
were you thinking of as a replace- 
ment for Prime Minister Craxi?" 

“We never interfere in another 
country's affairs, but we were hop- 
ing it would be Lee Iacocca." 


Donation to Opera House 

The Associated Press 
LONDON — The Royal Opera 
House. Covent Garden, has been 
given £1 million ($1.4 million) by 
Jean Sainsbury. 60. a retired public 
relations consultant The annual 
income will be used to sponsor a 
classical opera or ballet and to 
assist with repairs and redecoration 
of the 2^00-seat theater. 


INTERNATIONAL HERALD TRIBUNE, 


You’ve Come a Lo 


24, 1985 


By Irvin Molotsky 

fit*' York Tima Serna: 

W ASHINGTON — After a 
century or so of reporting 
mostly about Washington wed- 
dings, first ladies and White 
House teas, the women's contin- 
gent in the capital’s press corps in 
recent years has begun t a k ing 
leading and highly viable roles 
covering the White House. Con- 
gress, the Supreme Court and 
economic affairs. 

Helen Thomas, the White 
House correspondent for United 
Press International, is the senior 
news agency reporter covering 
the president, and it is she who is 
heard to end news conferences 
with “Thank you, Mr. President” 
Helen Dewar is the senior con- 
gressional correspondent of The 
Washington Post And. before 
going on maternity leave, Linda 
Greenhouse covered the Supreme 
Court for The New York Times. 

In addition, millions of Ameri- 
cans see women like Leslie Stahl 
of CBS News and Andrea Mitch- 
ell of NBC News reporting from 
the White House on television 
and hear others on radio, for ex- 
ample Susan Stamberg and Colde 
Roberts, on “AQ Things Consid- 
ered” on National Public Radio. 

To recall the difficult past and 
to call attention to recent success- 
es, the National Press Oub on 
Tuesday honored women in 
Washington journalism. The 
press club, too, has come a long 
way: ft once barred women from 
membership. 

“It took me 27 years to get into 
the National Press Club," said 
Sarah McClendon, chairwoman 
of the event, who runs a news 


the galleries, but complained 
about inadequate rest rooms. It 

was only after Joan McKinney, a 

reporter for The Advocate of Ba- 
ton Rouge, Louisiana, threatened 
to turn one of the men’s rooms 
into a unisex facility, McClendon 
said, that congressional commit- 
tees ordered the women's rooms 
expanded. 

For Tuesday’s observance 
McClendon and her colleagues 
put together a survey that says, 
“The Congressional Directory in 
1874 listed 11 accredited women 
correspondents, but later in (he 
decade the all-male Standing 
rn|ptnitiw» of the Senate Press 
Gallery ruled that no more wom- 
en were to be admitted. That rule 
held' until after 1900." 

Recent issues of that directory 
show that, considering names 
that dearly indicate gender, al- 


W 


.Scribe 


dents accredited to cover Con- 
gress (or 280 out of 1,143) are 
women. Thai represen ts’a big in- 
crease from 20 years ago, when 


about I7*perefent (or 1S2 out of 
896) were women. 

Elsie Carper, an assistant man- 
aging editor of The Washington 
Post, has partidpated in the 
change. “In the early days, prior 
to World War II," she said, 
-“women for the most part were 
covering society news, weddings 
and parties. During World War 
IL women came into reporting 
positions to replace men who had 
been drafted. After World War. 
D, most of (hem lost their jobs, 
which had been considered tem- 
porary." 

McClendon has collected 300 
biographies for inclusion in the 
National Press Club library, and 
hopes to get about 1.000 sketches 
of women wbo have worked as 
reporters in Washington. 

Some dearly are more interest- 
ing than others. After Jane Grey 
Swisshdm became the first wom- 
an to get a seat in the Senate press 
gallery, one sketch notes, a few 
women sporadically also occo- 



Sarah McClendon 

pied seats, generally under as- 
sumed names. 

“One who did not," the sketch 
con tin oes, “was Mary J. Windk. 
the author of several political 
bodes. She occupied a gallery seal 
throughout Buchanan's adminis- 
tration and into Lincoln’s, until, 
he had her imprisoned as a Con- 
federate spy .” 


A Phalanx of Doughty Women Reporters 


but is better known for her sharp 
questions at presidential news 
conferences. 

Besides being kept from mem- 
bership. McClendon said, women 
were not permitted to enter the 
men's bar at the press dub. Politi- 
cians and lobbyists often passed 
along inside information to re- 
porters at the bar, die said, add- 
ing that tiie bar was also a place 
where “a man out of work could 
go and find out from the old-boy 
network where there were jobs." 

McClendon said women used 
to be excluded from the congres- 
sional press galleries. More re- 
cently. women gained access to 


New York Times Service 

W ASHINGTON — Sarah 
McClendon believes the 
first woman to cover Washington 
as a reporter was probably Anne 
Roy all, who published one jour- 
nal, Paul Pry. from 1831 to 1836 
and another, The Huntress, from 
1836 to 1854. 

Royail wrote that she once fol- 
lowed John Quincy Adams when 
he went for his morning plunge in 
the Potomac River and sat down 
on his clothes, refusing to bodge 
until he answered her questions. 

The first to be admitted to the 
Congressional press galleries was 
Jane Grey Swisshelm, a Pitts- 
burgh reporter who had persuad- 
ed Horace Greeley to buy her 
articles for the New York Tri- 
bune. 

Emily Edson Briggs, a reporter 
for the Washington Chronicle 
and the Philadelphia Press from 
1866 to 1882, became the first 
woman to send articles on tele- 
graph wires. 

More recently, Doris Fleeson 
had a wide following as a political 
correspondent, and May Craig, 
writing for papers in Maine, be- 
came known for fearless ques- 






Emfly Briggs 


tioning of presidents at news con- 
ferences. 

Fleeson wrote a column for 
The New York Daily News be- 
fore becoming a syndicated col- 
umnist. worked cm formation of 
the American Newspaper Guild 
and was the only woman to be- 


Jane Swisshehn 


sense approach. In one instance 
rite praised Dwight Eisenhower's 
civil rights record, then asked, 
“Why have you not been as active 
in trying to wipe out discrimina- 
tion based on sex, namely, the 
w]nal rights amendment?" 

Ambrose writes: “Caught by 


cotoe a permanent member of the surprise, Eisenhower's response 
press entourage (hat accompa- was TVeU, it's bard for a mere 
nied Franklin D. Roosevelt on bis man to believe that woman 


campaign tours. 

In a new bLogj 
hower," Stephen 


y. “Eisen- 
Ambrosc 


cites examples of Craig’s no-non- press corps." 


doesn’t have equal rights.* That 
standard line brought a standard 
guffaw from the nearly all-male 


people 

Fossil-Finder Honored 

j-tssrs-rs; 

man, was honored Tuesday by the u ... .. 

National Geographic Society. Mort ZwfcenwB, the 
President Rooald Reagan presented rfU-S. News* World Report, nas 
Kimeu, a collaborator of the Lea- n gn ^d to buy a Fifth 
key family, with the society’s La apartment for SK5 antuon. 

Gorce Medal at a White House w hfch may be the highest pnceewr 
ceremony, and in ceremonies at-tbe ^ a Manhat tan co-op. accorcLLng 
society’s headquarters, its presi- to ^ jgaj estate agents involved, 
dent. G3bert M- Grosvenor, called senior vice president 

Kimeu “perhaps the world’s great- f Sotheby’s Interaauional Realty, 
cst fossil finder” and praised his ^f^-ribed the triplex, overlooking 
knack for finding tiny pieces of o-nrr al Park just south of the Met- 
anrient bone in unlikely places. _ Museum of Art, as spec- 
Richarf Leakey, director of tbeNa- with at least four bed- 

tional Museums of Kenya, who has a library, a terrace any' 

worked with Kimeu for 25 years, ■»j nCTW tihk»“ views. * 

said: “Without Kamoya’s assts- q 

lance, none of my projects could 

have been so successful” The son princess Diana and Prince j 
of a gpat herder, Kimeu started as a nm ks have asked the Royal Aik- j 
field worker for Richard’s parents, tralian Air Faroe to fit a double bed f 

Lords and Mary Leakey, in 1960, the jet that wiE take them on the f 

when he was 21. The latest of his 364 >oDr flight to Australia on Fn- \ 

important findings was the nearly { j a y ) ibc son newspaper repented \ 
complete skeleton of Homo erectus Wednesday. The couple leave l/sor I 
discovered last year near Lake Ttar- ^ f OT a 10-day visit to celebrate 
kana in Kenya. The 1.6 nslfioa- gg 150 th anniv ersary of (he state , 

year-old skeleton of an a d ol esc ent ^ Victoria. The Sun said that a ; 

boy is the best such example ever ^ m n fcrafignen would install the ‘ 

found. bed m a partitioned section of a / 

□ Rnwng 707. Buckingham Palace \ 

, ■ . .. ba d wimMiate co mme nt on the 1 

An expedition retracing Marco ____ l_j me the most un- 1 
' Polo's footsteps down China’s an- ^ u™* ever re- \ 

yid 1 ucsdfly A slate- From Nov. 9 to 12 the^^^v^/ ( ,' 
lb? M^Poio Fotin- visa the United States, where they ' 

claimed that the expedition’s lead- 

Site across Asia, although the s^ a fonual f muhaemg ball, tot | 

“ sponsoring the ban. Hammer, who 
al years between them. : 

*-* dents and Soviet leaders (dike, is 

Johnny Carson, the host of l“Wn«*ebani» MdTorUiit f 
NBCsThe Tonight Show" for 23 ed WorM Colkgcs, a network of . 
vests. tuned 60 on Wednesday. seven sdwofa designed bo promote ; 

3 - international t mdeurtandmg . Pkri < 

u Ilyinsky* president of the Palm 

The ultimate version of “Blue Beach Town Council, said he has 
Suede Shoes” was played in a Lon- received more than 90 k&ers and 
don studio ^ week. Two n-Bca- 35 phone calls protesting -Ham- 
ties, George Hamson and Ringo mo’s involvement because of bis 
Stair, and Eric Qapton joined Cal Soviet ties. Thecouncflagreed to i 
Perkins in marking the 30th mini- award the perimt for the ball after | 
versary of the rock V roll classic, the United Worid Colleges offered 1 
*Tve snng that $nng since 1955,” an unidentified Palm Beach charity \ 
Perkins said. “But I never enjoyed S75JXXL Organizers of the tafl ex- { 
playing it SO mud* &S here tnmgh t pect U> ftOOVC 500 gQCSlS and take ) 
with toy rockabilly buddies.” The m up to $50,000 per couple. ■ f 


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City/Country 


~ ' (Please print clearly) .» 

OMORROW • MAIL TODAY • WIN TOMORROW • MAIL TOD^ 


REAL ESTATE 
FOR SALE 
CORSICA 


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FRENCH PROVINCES 


ALLIED 

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USA ABted Von Ilm* Inti Cwp 
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ITALY 


Genoa Pool, tarn, court, tadtociped Peking. F3^00.00Q. Telt 542 03 03 

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Tel J73) 50 66 00 Thr 479417 MC 
or A^ence Sant Rodi 


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room. 5 bdfc, fcovr^y receprioo. 6000 
mus. bnchujped qqubi Ooaiped by 


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PI) OD 01 91. Tb rax? GULF G 


FLORB4CE, kwehr 2-dorev home p30 
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UtogH QMrm If yOl ore cmksemg an tfivestmeaf in 

Mf PteoKBt Dourttto. Me of Ms, “ 

Tab DoogUa (&624) 23718 behxe your dcOTtyi - 

T -STSUffliCTG WE PAY OUR CUBITS 

quarterly 

A GROSS DOUAR INCOME 


sioaooo 

unwioff 


OPPORTUMTY 


harden Representative 
2-5 OU Bond St_ London W1 
Td 01-493 4244, Tb 28247 SCSLON G 


, To rie.elop a grotty rote* torn mar- 
[ toting on ndufam fuianrid product in- 
t e rn j ionoiy. we roek. 


one «rf the faimi internertwaT newt 
brietetg, in Ihe worid. 

Why not ad FT Unmet office 
P2) 513 2816 right now? 

PANAMA COM2AMB FORMS) by 
prufi-teuieJl • $650 - did • cfcect - 
wryease errvacy - tove money. PMA 
Beg 6-3396, H Porodo. Potx»na6, 8P 
BAWONG AND favatment Adrim 
Wtoded - eru aele irt eor rm aBO fi. 1FX, 73 
New Band St, London Wl, England 

BUSINESS SERVICES 


tetd&hed 1928 

PeHcaorotrod 42 t >3DlS Artwerp 
Saigas - Tet {32 3 234 02 51 
Tbt 71/79 (yl b. Al the Uktotood Oub 
Heart of Antwerp Diamond ndudry 


Top level Jobs 



Send CV and photo in oonfida m to N*w oatd St. Uxdon Wl. Engtond 

Box 41982. LH.T- 63 Long Acre, 

London, WC2E 9K BUSINESS SHIVICES 

WANTHJTOPSAIESPHBONtomor- 
tof Cdfornio pwrte pbeemert r®d WTL 

BEAITOH PSOPIS 

atoe wyewi Top return* S atoiru- I MIWT Hl MC 

boa. Mr. Ort wl be concfarong U-5JL A WORLDWIDE 

, toterviewi 16-21 November td the 
Vemhera/Manrhom HaBdaf inn. A ro r rp lee e pCTtoof A brofaen wyvice 

veszars, own MMm ubbivbu. wum & nurtMiguoi 

Notdo, CA 94942 USA. ireSvidudi for eA soriri S 


prowd m g o Udg ue uAxfai of 
ttwrtod, wii/ie & mumwigud 
incSvidudb for al load S 


DID YOU REALIZE PROFITS ON 
FUTURES MAKXH5 DUJBNG THE 
IAST YEARS? 

If nor. coraider ipeaiati »• im wom e ut * 
on tewrei martmte portteio* monoid 
by a highly p ro faMmid bro to i uu e 
c o m p o n r which a a m ember of Ui. 
and UX e ar c htto eg. 

ArmUAUZH) AVSAGF PROFIT 
OVER THE LAST TWO YEARS: 21% 
Trade record wdted by a known 
adermtoand owSt company. No mar- 
gin eaOs up to inted mveament. 
Account* fi4!y jegragated. 

For hrther B gomxtoon cdt 
COLD HILL 

London, Tel 00441/930 49 84. 
Lneome. Tek 004121/20 58 31. 
Bueno Airra, Td, 00541/313 61 46. 
To recene a brochure Free of charge. 


SHIRLSTAR 

MTBMAUONAL SALES 
KBZERSGRACHT 534 
1017 B( AMSTERDAM 
THj 10301 272822 
THEX 14663 1WE5CQ1 


LONDON UIwIttS 

A I |Jf|!Sar£ 330 W. 56* St, MV XL 10019 

roTTuunom ■ ocm&xnon i iravnanqrv *» — n - _ — ^ 

d tox I Bctok aocounts raki&hed I r S irt SS 8 * 

Generd bufrneii advice & atedance 1 rteeaeo wortowoe. 

m jam a 


OFFICE SERVICES 

GENEVA 

SWITZBUIC 
Full Service 
b our Busiiwre 

• tnternatktod low and tone 

• MdboK, te lep h o n e art Mae 
services 

• Tran&toon and y d ex id wicei 

6 Fcrmctoarv dcovdotoi Did 

odmrtSrceion of Sw* and fardgn 
oompanet 

Fi4 c on E dence <tod tba s han tn eawd 

BUSOCSS ADVISORY 
SBtVICB SJL 

7 Rue Mete. 1207 GB4EVA. 

Tet 36 OS 40 Teton 23342 


report ■ 12 CBunftxes ondy z e ct Oe- 

WMA, 45 Lvn*urtf Terroce, 

YOUR AGBIT M MOROCCO SgAiSittiSgfc 

5CHAMASCH MAROC SA ‘SISTSSSl 

Write; 42, Ave Hobdi Sephr te tie uod & itercry. Write Haros 
Corabktoco 01. Morocco 3082. Aix 13100 

222221 SHMI5. KOWH. DRBSB rodu- 


i FDCST INVESTMB4T NEWSLETTER. 

I AvKsr^wmnglrtflHD/ySdxAzLet- 
S® toh-d jutoenptmn. FSKL 
P.O. Bae 381, CH-1001 Lcuomie, 
Swi tD t to el 


WE ARE SEBONG.BUyBS FOR 
large Muuditiei of hid* quedty 

CRUDE OIL 

I r te r e ited pardra teawe 


Aura, Td, 00541/313 61 46. NOW 15 THE TIME TO PURCHASE » w ritmg to Bob, 2B99, Herdd Tri 
vn a brodxjre free of charge, wed corpora* arreraft from rheU&L. P2gl Nrid f Ctow, France 


Write; GOU> HR1 GROUP 
Rue du Ucn ffor 4 
1003 Lcwtone. Swrtzektod. 
Broker rapirvQ emited 


Bridih eorouttom, IS year* empieiKB — ' '“** . — . .. . — - KBS. 5 tie de Own, 1 202 G e we n 

' European ctont* find#* beS D&AWAJtE, PANAMA, Lberfa. Cor^ YOU D^SVE TT* BBT money mav Tat (22) 86 17 33, to 428388 KBS 


le dra ed A hairy. Write Homo 

3082. Abe 131&L 

SHIRTS. HOUE, DRESSES radu- 
svely tdfarad. For raw to , writer 
Shopper*, Ban 71767 KCL nong Kong. 
PROVBI FRONTS hem US doAw'e 
cdtopra. Defrdft WMA, 45 LynrBiwto 
TasTSurte 55, Hong Kong. 

F INAN CIAL 

INVESTMENTS 



$50,000 - $200,000+ 


Tbe “ICA Executive Search Newsletter" fa 
a unique PubHcatioo cxraled in L974. It he. 
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