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: KNUlUV 









Herald 


INTERNATIONAL 



(tribune 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 



Aid Workers 
And Clergy 

Executed 
In Rwanda 

Thousands Feared Dead 
-4s Ethnic Clashes Push 
Country Into Civil War 

By Keith B. Richburg 

... *' a,W "S ,<w Service 

Al ^ 0B1 — Rwanda appeared Friday to be 
sli^Dg mto full-scale civil war and anarchy, 
wth troops from the elite Presidential Guard 

JgS?* gl i erri l! as m of the capital, 

Kigali, and other armed units engaged m an 

°rP' 0 T as “ s ® ina .tion that targeted government 
officials, .Catholic clerics, and Rwandan em- 
ployees of foreign aid agencies. 

Chaos has continued unabated in Kigali 
nnce early Thursday after the country’s pres- 
aent, Juvenal Habyarimana, was killed along 
with the Burundian president, Cyprien Ntary^ 
mira, m a plane crash believed to have been 
caused by one or more rockets. 

Since agreeing to form a transitional govern- 
ment with rebels trying to oust him, Mr. Ha- 
byarimana had no legal successor, and attempts 
by the defense minister and senior army offi- 
cers to take control through a ‘‘crisis commit- 
tee” apparently collapsed Friday. 

[Troops have killed the acting prime minis- 
ter, about 20 priests and n uns and d/wm* of aid 
workers. The Associated Press reported, eating 
reports from diplomats, UN officials and hu- 
manitarian groups in Kigali. Soldiers tortured 
and killed 10 and possibly 1 1 UN peacekeepers, 
the reports said. 

[Acting Prime Minis ter Agathe U 
mana was dragged from a UN 


r and 

killed by presidential guards in front of UN. 
volunteers on Thursday, UN sources Ten 
Belgian peacekeepers who were guarding Mrs. 
UwUingiyamana were slain , acco rding to the 
Belgian Defense Ministry in Brussels. 

[Rwandan soldiers also killed eight Roman 
Catholic priests and 1 1 nuns, all of them Afri- 
can. said Jose M. de Vera, a spokesman at Jesuit 
headquarters in Rome. Three Belgian Jesuits 
were spared, he said. A Papal Nuncio source 
reached by telephone from Paris, said 22 clergy, 
all Rwandans, had been killed since the fightmg 
began.] 

Georges DaDemagne, the Belgian director of 
the aid group Doctors Without Borders, was 

See RWANDA , Page 8 



Japan’s Coalition 
Strains to Form 
A New Cabinet 

Clinton Loses Resignation 


lUanna Miyiaa/Raasi 

Depnty Prime MMster TsrtonmBata, besieged by reporters in Tokyo on Friday, is considered a front-nmnor for prime master. 

Trade Turns Latin America’s Foes Into Friends 


By James Brooke 

New York Tima Service 

RIO DE JANEIRO — On Rio’s bay, two Brazilian cannon 
have been waiting for Argentine warships for decades, monu- 
ments to the long enmity between South America’s two region- 
al powers. But today the guns are frozen with rust, visited by 
tourists, many of them Argentines. 

Ten vears ago, Argentina and Brazil were run by nriHtaiy 
dictators, who inflated defense budgets and sharpened nation- 
alist tensions. Now, with both nations under civilian rale, they 
have discovered that former enemies can make good trading 
partners. 


The new friendship and economic interplay between the two 
neighbors are put of a quiet revolution taking hold across a 
continent long dominated by militarists and protectionists. 

Military barriers are coming down, and new webs of free- 
trade pacts, of highways and waterways and of oil and gas 
pipelines are rapidly binding South America together as never 
before. Generals are taking a back seat to free traders. 

"The counfries of South America have become so interde- 
pendent that it lessens the possibility of an outbreak — Brazil 
against Argentina, or Chile against Arge ntin a, " said Jerry 
Haar. a senior research associate at the North-South Center at 
the University of Miami 


Today, when Argentine tourists invade Brazilian beach 
resorts with Southern Cone bank machine cards, it is hard to 
remember that only a few years ago Brazilian engineers de- 
signed international road bridges so they would collapse under 
the weight of an Argentine tank. 

In Argentina, as memories fade of 1977 blackout drills 
against threatened Chilean air raids, engineers push a railroad 
tunnel, a gas pipeline, and an oil pipeline through the Andes. 
Inaugurated in February, the oil pipeline now supplies half of 
Chile's petroleum needs. 

Reworking foreign policies traditionally oriented toward the 

See LATIN, Page 8 


Key Agent for 
Trade Change 

By Thomas L. Friedman 

New York Tima Service 

WASHINGTON — The resignation of 
Prime Minister Morihiro Hosokawa of Japan 
has deprived the Clinton administration of the 
key agent of change it was counting on to open 
Japan’s dosed markets, and left the White 
House wondering how it is going to achieve its 
trade objectives with Tokyo anytime soon. 

Mr. Hosokawa was widely viewed by Ameri- 
can officials as the Japanese leader most willing 

NEWS ANALYSIS 

to accommodate American demands for more 
open markets. His downfall is expected to lead 
to a period of political weakness and uncertain- 
ty in Tokyo, m which the permanent bureau- 
crats will hold sway and no leader is likely to 
emerge willing to make the hard decisions 
Washington is demanding. 

Some analysts wonder whether the Clinton 
administration did not exaggerate Mr. Ho- 
sokawa’s willingness to accede to American 
demands, much the way it built up President 
Boris N. Yeltsin of Russia only to be disap- 
pointed when he began to take political and 
economic steps anathema to Washington. 
While both men were being built up by Wash- 
ington, they were steadily losing support at 
home. 

Whatever the case, the Hosokawa resigna- 
tion raises certain tactical questions for the 
administration, most notably whether or not to 
proceed with the policy of steadily ratcheting 
up the pressure cm Tokyo with the threat of 
trade sanctions. American officials now wonder 
whether in pressuring a weak and divided To- 
kyo government, they wQl not just be pushing 
on a string. As one senior official asked: "The 
real question is: Is there a ‘there’ there?” 

President Bill Clinton’s top economic, fat. 
dgn policy and trade officials gathered at the 
white House Friday morning fix’ a discussion 
of where to go from here. For the moment, the 
line is to stay the course largely because it is so 
undear where both countries are heading that it 
is too soon to make any major policy adjust- 
ment 

“Sometimes in trade, as in life, patience is a 
virtue,” said the U.S. trade representative, 
Mickey Kantor. “The Japanese government has 
had its problems. That obviously has affected 
their ability to respond. We are going to work 
with whomever the new prime minister might 
be and we will continue to assume that the 
Japanese wiD fulfill their responsibilities under 
the framework trade agreement” 

The concern of American officials is that the 

See CHANGE, Page 5 


Kiosk 


Sri Lanka Bombs 
Kffl2at Hotels 

COLOMBO (Reuters) — Two people 
were killed and at least 14 wounded when 
bombs targeted at Sri Lankan luxury ho- 
tels exploded Friday, the police said. 

The first blast occurred at a beach near 
the Mount Lavinia hotel outside Colom- 
bo, killing two people. “We believe the 
men. both Tamils, who may have been 
carrying the bomb, exploded it premature- 
ly and it was intended for a bold, a police 

officer said. . . . 

Later, explosions occurred at three ho- 
tels in the city, including the MamoL At 
least 14 people were wounded m the 
blasts. The police said they suspected 
Tamil rebels were responsible. 

Alt 

In M3an, rescuing Gothic archueemre 
from oblivion. ' 

Money Report 

Fund Management Styles — Does the 
fund manager matter? Indexys. acnvely 
managed funds. Pages 15, 17. 


Crossword 
Book Review 
Weather 


Page 6. 
Page 6. 
Page 20. 


Leaders in South Africa 
Resolve to Continue Talks 


Dow Jones 


^ Down 
19.00 

5? W* 

up T§ 

0.04% 

3,674.26 __ 

110.42 jg 

The Dollar 


orevtous dose 

DU 

1 7125 

1.717 


Pound 


1.4768 


Caapikd by Our Staff From Dispalches 

SKUKUZA, South Africa — South Africa’s 
peace summit nwirng ended late Friday with 
no indication that Zuln leaders would haft their 
boycott of the country’s first all-race elections 
this month. 

A vague joint statement issued at the end of 
nearly sevm hoars of talks among key political 
leaders did not mention the elections scheduled 
for April 26 to 28, but said negotiations would 
continue. 

The meeting was attended by President Fre- 
derikW. de Klerk; Nelson Mandela, the leader 
of the African National Congress; Chief Man- 
eosuihn Buthdezi, head cf the Zulu-based In- 
katha Freedom Party, and Goodwill Zwefithim, 
the Zulu king It was held in an effort to halt 
violence threatening fair elections. 

President de Klerk admitted at a news con- 
ference that the statement was vague, but said 
the discussions were incomplete. 

The statement said the participants agreed 
on international mediation to seek a constitu- 
tional settlement and political reconciliation. 

Mr. de Klerk said there had been “progress in 
some respects” on the status of the Zulu monar- 
chy. 

The African National Congress offered earli- 
er Friday to recognize KingZwehthini as mon- 
arch with constitutional powers in the Kwa- 
Zulu black homeland and the surrounding 
province of Natal. 

The offer was made by Mr. Mandela at a 
four-hour session with the long before the sum- 
mit meeting. 

The ANC proposal, spelled out in a state- 


ment, said that"" His Majesty the King shall be 
recognized as a King with constitutional pow- 
ers, prerogatives, rights and obligations which 
shall extend throughout the province of Kwa- 
Zulu-Natal” 

The offer said the king’s powers would be 
specified in the constitution of KwaZulu-Natal, 
which is due to be assimilated into South Africa 
as one of nine new provinces after the country 1 s 
elections later this month. 

The king, according to the ANC proposal, 
would also be crowned *in such a manner as 
may be agreed with him, which may include 
coronation by the chief justice of the country." 

There was no response from King ZwelithinL 

But the monarch set a hard-line tone in his 
meeting with Mr. Mandela and, in a statement 
sent to the media, vowed not to back down 
from his demand for Zulu sovereignty in Kwa- 
Zulu-Natal. 

He also branded the state of emergency im- 
posed by Mr. De Klerk on KwaZulu-Natal mi 
March 31 as an "invasion” and an act of “for- 
eign aggression.” 

King Zwelithim demanded that Mr. Man- 
dela distance himself from the killing of nine 
Zulu royalists by ANC security guards outside 
ANC headquarters at Shell House during a 
March 28 demonstration in Johannesburg that 
claimed 33 lives. 

The killing s led Mr. de Klerk to proclaim a 
stale of emergency on March 31 in KwaZulu- 
Natal in an effort to stem rising violence in the 
stronghold of the Inkaiha Freedom Party, 

See TALKS, Page 8 



NEWFOUND GLORY — Detail of 
the Judge, and the Virgin” at the Vatican’s 
celebrated Mass there Friday to mark the aid of 14 years < 


Greenback Readies a War Against Terrorists 9 Fakes 



Andorra 9.00 FF Luxembourg M L Fr 

Antilles 11.20 FF JBf^TdoRiS 

Gabon 960 CFA slain^... J00 PTAS 

Greece ^00 Dr. Tunisia ...-1 -000 [Dm 

Ivory Coost .1.120 CFA Turkey ~T.Ljl5.000 

Jordon 1JD U.A.E. D'rtj 

Lebanon ...USS 1.50 U.S. Mil. fEur.) SU0 


By Bill McAllister 

Washotgron Post Service 

WASHINGTON — Terrorists may be on the verge of 
claiming a new victim: the U.S. greenback. 

Officials at the Bureau of Engraving and Printing say that 
the agency is working on new designs for U.S. currency amid 
reports that terrorist organizations may be flooding the world 
with counterfeit 5100 lulls. 

The bogus-money problem has become so severe that many 
overseas banks are refuting to accept 5100 bills. A leading 
terrorist expert said that the counterfeit dollars, being pro- 
duced in the Middle East by terrorist groups linked to Iran and 
Syria, could cause serious economic problems, especially for 
sbiall countries that rely on the U-S. dollar. 


While confirming work on a new design. Bureau of Engrav- 
ing officials have been reluctant to discuss what changes they 
will recommend that Treasury Secretary Lloyd Benisen imple- 
ment or to link the c hange to the increase of overseas counter- 
fating. 

Among the ideas said to be under consideration: moving 
portraits to the side, implanting small holograms on the buls, 
printing on watermarked paper, using multicolored patterns 
that are difficult for copiers to reproduce and priming rote 
multicolored inks — all steps other countries have adopted. 

One of the most dramatic proposals has come from Robert 
Kuppennan, who studies terrorism. He has called For a two- 
tiered money system — new greenbacks for domestic use and 
new “red backs.” or dollars printed in red, for overseas use. 


The Treasury Department has been reluctant to make major 
changes in the dollar. leaving the United States with what a 
Secret Service spokeswoman described as “the most stable 
currency in the world and the most easy to counterfeit” 

Two years ago. the Bureau of Engraving introduced two 
major changes to high-valued currency: extremely small print- 
ing called “microprinting” and a polyester thread that also 
contains tiny printing. Coin World, the numismatic publica- 
tion that this wed; disclosed the redesign effort said that those 
moves had failed to thwart the counterfeiters and that young- 
sters had showed the newspaper how they could easily puD the 
polyester thread from the new currency. 

Figures provided by the Secret Service and interviews with 

See 5100, Page 8 


3 

- 7 


yr- 

a’s 


Of Hosokawa 
Sparks Fears 

By David E. Sanger 

New York Tima Service 

TOKYO — As Japan’s fractious governing 
coalition struggled Friday to form a new gov- 
ernment after the surprise resignation of Prime 
Minister Morihiro Hosokawa, both Japanese 
and U.S. officials said they feared this was the 
beginning of a long period of political instabil- 
ity that could slow, and possibly derail, the 
reform effort Mr. Hosokawa symbolized. 

Throughout (he country, there was a palpa- 
ble sense of disappointment that Mr. Ho- 
sokawa, a 56-year-old outsider who took office 
amid so much promise eight months ago, had 
fallen prey to precisely the same kind of finan- 
cial scandals he denounced. 

But (here seemed less anger at Mr. Hosokawa 
than fear that his program — to restore power 

to consumers and urban voters and dere gula te a 
country choking cm bureaucracy — would be 
subsumed in the power struggle now under way 
for control of the government 
“I sincerely apologize to the people erf Ja- 
pan,” Mr. Hosokawa said Friday. “Many re- 
forms are still under way and have not been 
completed, and my role will now be different 
But I will continuously work toward the fru- 
ition of the goals we seL” 

Still, the man who came to office as Japan’s 
cleanest politician left many questions unan- 
swered about his own financial connections to a 
trucking company, Tokyo Sagawa Kyubin, that 

S ent much til the 1980s buying influence from 
e country’s leading politicians. It has also 
been linked indirectly to the Japanese mob. 

Mr. Hosokawa took a “loan” of nearly SI 
milli on from the company in 1981 Though he 
insisted that he paid back the principal, on 
Friday he conceded for the first time that there 
had been numerous irregularities in the transac- 
tion, and that the interest he was supposed to 
pay instead had been “used for my political 
activities.” 

He said that he had decided to resign after 
receiving other specifics about how as office 
had let “an old personal friend of mine,” whom 
he did not name, profit from the management 
of other political funds when he served as 
governor of Kumamoto prefecture, m south- 
western Japan. 

While leaders of the coalition insisted that 
Mr. Hosokawa had begun an unstoppable tide 
toward economic and political reform, and that 
it would continue no matter who is elected, they 
conceded that their first mission now was polit- 
ical survival. There were some predictions that 
the coalition could splinter apart in the battle to 
find a successor to Mr. Hosokawa, further crip- 
pling the government's effectiveness or bring- 
ing tee Liberal Democrats back to power. 

“It has all happened so fast I haven’t had 
time to think it all through,’’ said the foreign 
mini ster and deputy prime minister, Tsutomu 
Hata. 

Considered a front-runner as Mr. Ho- 
sokawa’s successor, Mr. Hata said that “the 
most important thing now is to resume our 
task* and maintain harmony.” 

Disappointment was evident in remarks by 
Walter F. Mondale, the U.S. ambassador here, 
who came to Tokyo last year hoping he could 

See JAPAN, Page 5 


U.S. and the EU 
Near Accord 
On Public Bids 


By Alan Friedman 

Inurmuional Herald Tribune 

PARIS — The United States and the Europe- 
an Union are expected to reach a ground- 
breaking agreement next week that could open 
up competition for more than 3200 billion in 
annual public procurement contracts on bote 
tides of tee Atlantic, U.S. officials said Friday. 

Negotiators in the long-running and politi- 
cally sensitive talks said after meetings in Brus- 
sels on Friday teat they were increasingly hope- 
ful of reaching an accord. They were planning 
to continue the talks on Saturday about eating 
European restrictions on American companies 
that want to bid for contracts from major state 
utilities such as telecommunications operators. 

The United Slates is also seeking tee elimina- 
tion of a European rule that requires bids with 
more than 50 percent European content to be 
given priority. 

In exchange, the Clinton administration is 
offering pledges it has worked out with 36 states 
to drop rules that keep non-American compa- 
nies from bidding on contracts, the officials 
said. The EU also wants Washington to ease or 
elimina te “Buy American” rales, especially in 
connection with federally funded programs in- 
volving rural electrification, the enviro nme nt 
urban mass transport, and airport and highway 

improvement. 

EU and U.S. officials said Friday that while 
portions of the final text of the government 
procurement accord were being drafted this 
weekend, it would be up to Sr Leon Briitan. tee 
EU trade commissioner, and Mickey Kantor, 
the U.S. trade representative, to wrap up finaj 
negotiations when they met next week. 

The two will be in Morocco for ceremonies to 
mark tee signing ~ 

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See GATT, Page 8 


I 



INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 9-10, 1994 


* r 


Russia Seeks to Tie 


NATO Partnership 
To Joining the G- 7 



Compiled by Ov Staff From Dispatches 

MOSCOW — The Kremlin said 
Friday that Russia’s “romantic em- 
brace* with the West was over and 
proposed a link between jo ining 
NATO’s Partnership for Peace 
plan and the acceptance of Mos- 
cow as a full member of the Group 
of Seven economic club. 


“If they invite us to be partners 
in the political and military spheres 
on equal terms with the leading 
countries of the world, it would be 
logical to foresee that the same ap- 
proach apply to economics," said 


Mr. Yeltsin’s press secretary, Vya- 
cheslav Kostikov. 


cheslav Kostikov. 

“You know that Russia would 
like to join the Group of Seven," 
Mr. Kostikov added. "Maybe it 
would be an interesting approach if 
we tie these two problems to each 
other." 

The remarks were seen as likdy 
to fan Western doubts over the 
consistency and direction of Rus- 
sian foreign policy. 

“1 would not say we are talking 
about a cooling of relations," Mr. 
Kostikov said at the Kremlin brief- 
ing. "I think what has happened is 
that Russia, Europe and America 
have passed the stage of romanti- 
cism in post-totalitarian diplomacy 
when both sides embraced each 
other so tightly that national secu- 
rity interests were left aside." 

“Russia increasingly sees itself as 
a great power which has its own 
strategic, military and political in- 
terests, different from chose of the 
United States and Europe," he 
added 

“It has started saying this loud- 
ly,” Mr. Kostikov said “I think it is 


good, it is right because it will save 
us bom disappointments or even 
mis take* in the future.” 

Last week, the spokesman said it 
could take six moathsor more for 
Russia to work out conditions for 
joining the North Atlantic Treaty 
Organization program, which pro- 
vides for joint military exercises 
and peacekeeping operations . by 
the i 6-nation alliance and former 
East bloc countries. 

That contradicted a statement by 
Foreign Minister Andrei V. Ko- 
zyrev that Russia would sign a 
framework agreement on the Part- 
nership I ’ M? month. 

( Reuters . AP) 


w Yeltsin to See Doctors 

President Yeltsin, recently the 
subject of rumors about his health, 
will see doctors in Barcelona dur- 
ing an official trip to Spain next 
week, Mr. Kostikov said Friday. 
Agence France- Presse reported 
from Moscow. 

Mr. Kostikov declined to say if 
the visit to a hospital where Mr. 
Yeltsin was operated on for a her- 
nia in 1990 was for medical rea- 
sons. The trip to Spain is to run 
April 11-13. 

"A meeting with the doctors is 
part of the president’s agenda," he 
said. “But I cannot teU you whether 
this meeting will take the form of a 
consultation or whether it win be a 
thank-you gesture from the presi- 
dent to the doctors.” 

Mr. Yeltsin wiQ meet King Joan 
Gtdos / and Queen Sophia, Prime 
Minister Felipe GonzAlez and the 
heads of the chambers of parlia- 
ment. He is to wrap up his visit in 
Barcelona. 






Die UN comnander is Bosnia, Sir Michael Rose, siriddni 
US. envoy, Charies E. Redman, to complete its landing in 


Serbs Ignore Truce Accord on Gorazde 


Compiled by Our Staff From Dispatches 

SARAJEVO, Bosnia-Hcrzegovina — Serbi- 
an forces intensified their shelling of Gorazde 
on Friday, ignoring a 24-hour truce accord with 
Muslim forces, a United Nations mili tary 
spokesman said. 

He said the cease-fire that was to cover 1,000 
kilometers (650 miles) of Serbian-Muslim front 
lines throughout Bosnia was “never really re- 
spected" by either ode, and that they did not 
renew it men it expired at 7 PM. 

“The level of shelling in Gorazde was more 
intense" than on Thursday, Commander Eric 
Chaperon erf the UN Protection Force said. He 
said an artillery blast slightly injured one of 


eight armed liaison officers sent by the UN 
force commander, Sr Michael Rose, on Thurs- 


day to provide more accurate reports of fight- 
ing in tiie enclave. 


Another UN force spokesman. Major Rob 
Annmk, said Lieutenant General Rose had 
again put off Serbian-Muslim discussion for a 
permanent truce, until at least Saturday. It bad 
oeen set for Thursday. 

Earlier, a defiant Serbian general pledged to 
take more ground near Gorazde. “Soon we 
shall occupy the entire region of Gorazde and 
thus gam control over both hanks of the Do- 
na," General Vlado Spremo, commander of the 
Bosnian Serbian corps has been besieging 


heavy fighting overnight near Vitkovid on the 
southern bank of the Drina, Tanjugpress agen- 
cy said. (Hauers, AP} 


Clinton Adviser Rejects Pentagon Stand on Bosnia 


By Elaine Sciolino 

Nm York Tima Service 

WASHINGTON — Seeking to restore credibility to 
American diplomacy in the Balkans, the White House has 
essentially repudiated remarks by two senior mOitaiy 
officials that the United States was not prepared to use 
military power now to prevent the Bosnian town of 
Gorazde from being overran by Serbian nationalists. 

The national security adviser, W. Anthony Lake, said in 
a speech at Johns Hopkins University in Baltimore that 
the Clinton a dminis tration was still open to n ” n g air 
strikes to protect the town in eastern Bosnia, where 
Serbian forces have intensified a siege. 

There is no evidence that the administration is consider- 
ing a new initiative that would involve the use of force to 
save Gorazde, and Mr. Lake’s remarks Thursday were 
primarily intended as a strategy to keep the Serbs on edge, 
senior White House and State Department officials said. 

The predominantly M uslim town was designated last 
year by the United Nations Security Council as one of six 


relevant Security Council resolutions” but avoided any 
direct threat of military action. 

“We must m nice dear to Serbia and to the Serbs of 
Bosnia that the costs of continued intranagencse are high," 
Mr. Lake said. In a veOed reference to remarks this week 


Ukrainian and periu 
azde later ihfe moo 


other UN peacekeepers to Gor- 


by Defense Secretary William J. Perry and General John 
M. Shaiikashvili, the chairman of the Joint Chiefs of Staff, 


“safe areas" that could be protected by “all necessary 
means, including the use of force,” a mandate that never 


means, including the use of force,” a mandate that never 
was fulfilled. About 65,000 people, two-thirds of them 
refugees from conquered towns, are trapped there. 

Earlier this week, the Security Council issued a mildly 
worded protest of the Serbian offensive on Gorazde: It 
said it took “serious note of the continuing defiance of the 


that suggested otherwise, Mr. Lake added: “Let me be 
dear. Neither the president nor any of his senior advisers 
rules out die use of air power to hdp stop attacks such as 
those against Gorazde.” 

As the adminis tration grammes “other ways" to build 
on some progress in Sarajevo, where a NATO threat of air 
strikes in February led Serbian forces to pull bade their 
heavy weapons, Mir. Lake said: “We must recall the 
central principle of our action there, that effective diplo- 
macy is linked to practical calculations of power. 

A senior White House official, speaking on the condi- 
tion of anonymity, said: “There has been a lot of specula- 
tion about the Sarajevo modeL Bui we seed to knows lot 
mare about die situation in Gorazde.” 

Because Mr. Clinton has consistently refused to send 
American peacekeepers to Bosnia in the absence of a 
durable settlement among its Serbs, Muslims, and Croats, 
the United States is in no position to dictate the mission of 
•the UN troops who are deployed there. 

The United States has offered to airlift about 800 


Existing Security Council resolutions authorize air 
strikes to protect peacekeepers against attack, and an 
infusion of peacekeeping soldiers into Gorazde, if they 
were attacked, would give the United States and its North 
Atlantic Treaty Organization alEes dear grounds to 
laimrh punitive strikes. 

But some senior adminis tration officials, including Sec- 
retary of State Warren M. Christopher, behove that the 
diplomatic basis for considering mili tary action already 
easts under a NATO resolution adopted last August that 
threatened the use of air strikes to end the “strangulation” 
of Sarqevo. 

To prove that the debate within the administration was 
over, a senior White House official said that both Mr. 
Feny and General Shaiikashvili had reviewed Mr. Lake's 
speech and “enthusiastically supported" it 


Rightists 
Agree on 
Italy Plan 


When asked during a television interview on Sunday 
hether Washington was w ilting to allow Gorazde to fan 


whether Washington was willing to allow Gorazde to fan 
to the Serbs, Mr. Perry said: “We wfll notenter the war to 
stop that from happening. That is correct Yes.” 

The following day. Mr. Shaiikashvili said at a Pentagon 
news conference: “Right now, it is our judgment that 
conditions in Gorazde do not lend themselves to the use of 
air power." 


Russia’s Germ Warfare Program Is Alive, U.S. Says 


Corplkd by Our Staff From Dispatches 

ROME — The neofasdst Na- 
tional Alliance and the Northern 
League reached a preliminary 
agreement on Friday for a federal 
Italy with a strong presidency in a 
move that codd get stalled govern- 
ment Hits going H g?m. 

The two parties agreed that Ita- 
ly’s constitution had to be rewritten 
and its changes put to a referen- 
dum. 

“We’re on the elevator that leads 
from purgatory to paradise," said 
Giuseppe Tatarefla of the neofas- 
cist ( M eg fttio n that held talks with 
the League. 

The Northern League and the 
National Alliance are the two main 
partners of Silvio Berlusconi's 
Faiza Italia party in the Freedom 
Alliance; which swept to power in 
elections March 27-28. 

Since the vote, the three allies 
have done little more than trade 


By R. Jeffrey Smith 

Washington Post Service 

WASHINGTON — The Clinton adminis- 
tration is convinced that Russian scientists 
have not entirety ended work on biological 
arms, despite repeated assurances by Presi- 
dent Boris N. Yeltsin that the program had 
been stopped, UJ5. officials have disclosed. 

The U.S. contention is based partly on 
recent American and British inspections of 
major biological research centers in Russia. 

An official said the inspections had shown 
that a “substantial infrastructure" for bio- 
logical work “with no commercial purpose” 
remained largely intact, as did its l«nl» to the 
Russian mili tary 

UjS. concerns also are based on a detailed 
account of secret Russian research on germ 
weapons that was obtained from a senior 
scientist in the program who defected to the 


United States in 1993, the officials said. The 
defector helped Washington confirm details 
of the germ weapon research program pro- 
vided to Britain in 1990 by another Russian 
defector. 

A recent draft intelligence report prepared 
for President Bill Clinton stated that Mr. 
Yeltsin had made some progress in curtailing 
the illicit effort since the Bush administra- 
tion complained about it in a January 1993 
report to Congress. But it added that more 
progress was needed, the officials said. 

Development, production and possession 
of toxin and biological agents far offensive 
military purposes are barred by an interna- 
tional treaty that was negotiated in 1972 and 
ratified by both Moscow and Washington. 

After U.S. protests, Mr. Yeltsin and other 
senior Russian officials acknowledged two 
years ago that the Russian military had con- 


ducted illicit research on germ weapons at 
least through 1990. They said the military 


also had developed prototype bombs and 
rocket warheads to carry the diseases in 
concentrated form. 


When Mr. Clinton raised concerns about 
the program during his meeting with Mr. 
Yeltsin in Moscow last 'January, senior Rus- 
sian officials offered general reassurances 
that the program was benign and said U.S. 
concerns would be assuaged by additional 
U.S. visits to key Russian installations. 


Since then, intelligence officials have un- 
covered additional information that pro- 
voked “renewed concent at very high levels" 
in the United States and Britain, according 
to a knowledgeable source. 

An official said, “We have evidence that 
leads us to understand that there is still an 


offensive biological weapons program un- 
derway.” 

“We arc very concerned that large aspects 
of the program are continuing," be adaed. 

To assist Mr. Yeltsin in carrying out ins 
co mmitm ent to eliminate Russia's capability 
to make germ weapons, the Pentagon wants 
to spend lens of millions of dollars to modify 
or eliminate related Russian factories and 
testing chambers. 

Assistant Defense Secretary Ashton Car- 
ter said this week that if Russian officials 
agreed, money appropriated by Congress un- 
der the “Nunn-Lugar" package of Russian 
aid could be used to “destroy facilities built 
specifically for a biological warfare pro- 
gram.” The package was named after its 
Senate sponsor*. Sam Nunn, Democrat of 
Georgia, and Richard G. Lugar, Republican 
of Indiana. 


insults. 

Bat the League broke the ice on 
Thursday when its leader, Umberto 
Boss, held talks with the head of 
the National Alliance, Gianfranco 
Fnri, about federalism. 

Constitutional experts of the two 
parties then met in Rome on Friday 
and hammered out the federalism 
idea. 

The neofascists traditionally fa- 
vor a strong central state but re- 
cently said they would agree to de- 
centralization. 

Mr. Bossi also met President Os- 
car Luigi Scalfaro for talks, but bis 
office declined to say what they 
were about 


Foes of German Far Right Have Heard Enough 


Reuters 

BONN — German politicians 
and editorial writers vented mount- 
ing frustration Friday at the radical 


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right’s growiqg success in spread- 
ing anti-Semitic views, despite laws 
against inciting race hatred. 

They demanded bans on far- 
right parties and more controls on 
public speech after prosecutors in 
Landshut declined Thursday to 
take action against Franz Scran- 
huber, head of the nationalist Re- 
publican party, for saying two Jew- 
ish leaders caused anti-Semitism. 
The prosecutors decided the out- 
burst could not be considered an 
attack on all Jews is Germany. 

The Frankfurter Rundschau sug- 
gested a nationwide news blackout 
on the far right to stop it from 
bogging the headlines. 


“It is intolerable that parties like 
the Republicans who propagate 
verbal violence that leads to physi- 
cal violence should be allowed,” 
said Michel Friedman, one of the 
two Jewish leaders targeted by Mr. 
Scbdnbuber. 


“What Schdnhuber said was ma- 
licious and obscene," said Herta 
DSubkr-Gmdin of the opposition 
Social Democrats. 


The dally Bfld wrote: “If we con- 
tinue with this lax approach to a 
small band of radical anti-demo- 
crats of all colors, we wfll ruin Ger- 
many’s reputation around the 
world." 


Mr. Schdnhuber, whose critics 
see his attacks as a ploy to rally 
voters to his faltering party in this 
marathon election year, started the 
dispute last month by calling a Jew- 
ish leader, Ignatz Bubis, “die real 
cause of anti-Semitism" in Gecna- 
ny. He added that the incitement of 
race hatred was caused not by the 
far right, but by Mr. Bubis and Mr. 
Friedman, two of Germany’s most 
prominent Jews. 

The incitement of race hatred 
was made a crime in I960 after a 
wave of desecrations at Jewish 
cemeteries, and is generally under- 
stood as a ban on Nari-style hate 
rhetoric. 


$ 100 : 

New Greenbacks? 


Continued from Page 1 


terrorism experts suggested in- 
creasing corarem within the govern- 
ment over bogus dollars from 
abroad. In fiscal year 1993, the 
agency said, there was five tunes as 
much counterfeit currency pro- 
duced overseas (5120 million) as in 
the United States (524 zmDian). 

Congressional sources said that 
tire Treasury hopes to announce the 
proposed currency changes later 
this month. The House Banking 
and Finance Committee is plan- 
ning hearings on the issue. 


The Northern League, mean- 
while, said it would support a gov- 
ernment headed by Mr. Berlusconi 
in exchange for pledges to turn Ita- 
ly into a federal state and ensure 
democratic rule. 

Mr. Berlusconi most commit 
himself to these two pants, which 
will be ck*ety monitored by the 
Northern League, Mr. Bossi said in 
an interview whb the daily newspa- 
per D Giornale published Friday. 

Mr. Boss described Mr. Berlus- 
coni, a media magnate , as “an auto- 
crat” and said he was convinced 
that Mr. Scalfaro would turn to Mr. 
Berlusconi to form a government 
“I am positive that Scalfaro wfll 
give the pome ministry to Bedus- 
coni,” be said, adding that the pair 
were tied by an “iron-clad agree- 
ment bound by I don't know what 
joint interests.” (Reuters. AFP) 


WORLD BRIEFS 


Sihanouk Home With Plan for Peace 

___ vi crkonruilr nf Cambodi: 


PHNOM PENH (NYT) - Koj Norodom 
bo has been under ream® o cW tor ■»*, 


tSS nxmdB, «*] to tty to rwpen pro 

is now baldas a resuhof what aides said had been mteasvedjaariwu- 

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government. 

Israel to Import Foreign Workers 

JERUSALEM (Ratios) — Israel announced on Friday it wouW 
impart foreign workers to replace Palestinums banned 
after two Arab guerrilla attacks this week. The official statemoit did not 
I Z... nM1 ,U K* in from OVCfseaS. 


»*s§ Iftfife. 


after two Arab guerrilla attacks this week, me anuaat suuomhu v 
spetify bow many workers would be allowed in from oveneas. 

Prime Minister Yitzhak Rabin reported to his security calm 
Thursday’s sealing off of the occupied territories to protect Israeli 
more revenge attacks over the Hebron mosque massacre. 

Tka Mncm ndwl, a sfflMnmMi statement said would last a 


more revenge attacks over roe nenrou , 

The closure, which a go vernment statement said would last ai least 
until after lsraeTs independence day on April W, effectively keeps 60,000 


i ><- > 


to 70,000. Palestinians away from their jobs is Israel. 


Ckd HdtreWRrsKa 

his face from airplane exhaust Friday while waiting for the jet carrying the 
arajevo. He denied Ids command played down reports of Gorazde sheffing. 


Maj or’s Popularity Plunges in 2 Polls 

LONDON (Reuters) — Prime Minister John Major of Britain and his 
governing Conservative Party have plunged to new depths of unpopulari- 
ty, two opinion polls published on Friday showed. __ 


the enclave, said in an interview Friday on 
Montenegrin radio. 

Gorazde. with 65,000 people, is one of three 
«™h»ng government-odd enclaves, along 
with Zepa and Srebrenica, that have been de- 
clared UN “safe areas” in eastern Bosnia. 

As concern about the Serbian assault moon t- 
ed, Washington urged the swift dispatch of UN 
peacekeeping troops to the area and the provi- 
sion of North Atlantic Treaty Organization air 
cover for them if necessary . 


A poB in the Daily Telegraph showed that no prime mnnstex and no 
government had fallen so far and so fast in people's estimation since the 
organization first started polling in Britain in the late 1930s. Only 21 
percent cf (hose polled were satisfied with Mr. Major's performance and 
the Conservative Party had a mere 12 percent approval rating. The poll 
al^n gave the opposition Labor Party a 25 point lead over the Conserva- 
tives, who face major losses in local government ejections in May and in 
elections for the European Parliament in June. 

A poll in the London Evening Standard dealt a further blow to Mr. 


— by 1997. — r ----- 

f Conservatives preferred Trade and Industry Secretary Michael 
: over Mr. Mqar far the leadership. 


Poland Applies for EU Membership p rort . 


The Bosnian Serbian military also reported 
aw fiehtine overnight near Vitkovid on the 


ATHENS (Reuters) — Poland formally applied Friday to join the 
European Union and Foreign Minister Andrzq Otechowski said mem- 
bership would be “a dream come tine.” 

Mr. Okcbowski handed Poland's application to the Greek foreign 
minister for European affairs, Theodores Pangaks. Greece currently 


holds the EU presidency. 

Poland is the second former Communist-bloc country to apply for EU 
membership. Hungary applied a week ago 


TRAVEL UPDATE 


U.K. Airports Test Bomb Detector 


LONDON (Reuters) — The world’s first automatic bomb-detection 
system for airline luggage is being installed in Britain, the company 
operating the country’s main airports said Friday. 

BAA PLC said -the equipment uses computerized X-ray machinery to 
analyze materials and match them to profiles of explosives. A suspect bag 
is sent for further checks, including examination by sensors. The compa- 
ny said the equipment could check up to 20 bags a minute and would not 
prolong check-in procedures. The new system wiB be postioned in the 
baggage sorting area with luggage examined once it has been checked in. 

The system has been an trial at Glasgow airport and wiQ initially be 
installed at the Heathrow and Gatwick airports near London to (heck 
international transit baggage. It will be installed to screen aS checked-in 
luggage at its seven airports by 1996 at a cost of £150 mflhan (S220 mflboo). 

Grease passengers sbootid go ffuvmh metal detectors before boarding, 
and luggage and cargo shook! be X-rayed, the UJ5. Coast Guard has 
proposed. Maritime officials said this could coat the cruise ship industry 
JIQ million a year. ^ (Reuters) 

Camrinm Airfares lutanatioad, Canada’s second-most important car- 
rier, announced Thursday it will resume flights to Bering cm May 3 and to 
Shanghai ok year from now. Both sendees were suspended in 1989 on 
grounds of financial difficulties. (AFP) 

Warning of a tsunami, also called a tidal wave, was issued Friday by 
Japanese authorities for Japan’s northern Pacific coast following a strong 
earthquake 220 kilometers (140 miles) off the northern coast with a 
preliminary reading of 6.6 on the Richter scale. (AP) 

Ilnafreds of pass e ng e rs w e re stranded at the Hanoi airport Friday af to 


itif. 


'mho ! 1 


Hnafrcds of pass e ng e rs w e re stranded at the Hanoi airport Friday aftei 
the Russian authorities refused to grant permission for a scheduled 


Vietnam Airlines flight to land in Moscow, saying the airport there could 
not cope with increased traffic after the earner added a second weekly 
flight to its summer schedule. (AFP) 


Golo Mann, Author’s Son 


And Historian, Hies at 85 


The Associated Press 

BONN — Golo Mann, 85, a 
widely read and idkityncratic his- 
torian and the last surviving son of 
the write Thomas Mann, died 
Thursday of cancer in Leverkusen, 
Germany, north of Cologne. 

With the death of Mr. Mann, the 
thud of six children of Thomas and 
Kal harin a Mann, Germany lost the 
last prominent member of a family 
that left a huge impact cm the Ger- 
man intellectual scene. Thomas 
Mann’s early novels — “Buddea- 
brooks,” “Tire Magic Mountain” 
and “Death in Venice" — earned 
him a Nobd prize in 1929 and 
remain classics 40 years after his 
death 


pby of Prince Albrecht vim Wallen- 
stein, the )7tb-ceatnry Bohemian 
soldier and statesman, and for bis 
memoira, which were published in 
1986 and spent months on the best- 
seQerhsL 

His 1958 book, “German Histo- 


ry of the J9tb and 20th Century,” 
made a strong im press i on on G«x- 


Gdo Maim was 24 when be fled 
Nazi Germany with his parents in 
1933. He lived in France and Swit- 
zerland before emigrating in 1942 
to the United States, where he 
taught history at Olivet College in 
Michigan aim Claremont College 
in California. 

He returned to Europe in 1957. 
After retiring from his political sci- 
ence chair at Stuttgart’s university 
in 1964, he moved to Switzerland, 
where he lived at Kikhberg until 
shortly before his death. 

Mr. Maim was perhaps best 
known in Germany for his biogra- 


made a strong im press i on on Ger- 
man students because of its pas- 
sionate yet careful examination of 
the Nazi period. 

The historian Uis Bittcrii wrote 
recently that in contrast to many 
postwar histories. Ml Mann never 
intimated that Nazism might have 
been historically determined by - 
Gennan character. . 

In tile 1970s, Mr. Maim had a 
popular talk show on pubtic televi- 
sion- He backed the Social Demo- 
cratic government's d&ente with ■ 
East Germany. 

In the 1980s; he became some- - 
thing of a black sheep after calling , 
the battle against leftist terrorists ■ 
“a new civil war” and demanding - 
that Germany dose the door to 
Third World i mm igrants. 

In the 1986 “Historians’ Db- 
pule,” a wide-ranging cfiscuaskm d 
Germany’s relation to its Nazipast, 
Mr. Mann suggested that Germany 
had done enough penance for the 
Holocaust \ 


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FRONT ROW SEAT — The film director Ron Howard and 
Ws daughter Jocelyn at the launching site of the Endeavour 
shuttle Friday in Cape Canaveral, Florida. The fiftoff was put 
on until Saturday, however, because of hi$i winds and clouds. 
Mr. Howard is researching a film on the Apollo 13 mtssfon. 

Away From Politics 


' Pi; \7T 

* Vi : "U> UrtwSor 






• A nudear plant in New Jersey trying to reduce power after grass 
clogged us cooling-water intake went through a power swing before 
ao automatic system shut the plant down, the Nuclear Regulatory 
Commission said. After the shutdown, the commission said, an 
emergency cooling system came on twice when it should not have, 
spilling radioactive water into the plant. No radiation was released to 
me environment and no one was hurt at the plant in Lower AUoways 

• Alaska's program of c uffing w3d wohcs has for the winter 
season, with 98 of the animals IriUed at a cost erf 1135,000, state 
officials said. 

• An off-duty Federal Express pflot attacked the crew of a company 
cargo jet in flight over Arkansas, critically iqnring two people. 
Auburn Calloway, 42, was a passenger on the DC-10 when he burst' 
into the cockpit armed with two hammers, a knife and a spear gun. 

• A rabbi has been convicted of conspiring to hander mflfions of 
dollars in drug money. Federal, prosecutors in Los Angeles said 
Rabbi Abraham Low, 43, told an undercover FBI agent that be 
could launder up to $5 million a week through a “holy network” erf 
charities and nonprofit groups. 

• A student at the Massachusetts Institute of Technology has been 

in dieted in Boston, charged in connection with a computer “bulletin 
board” that allowed people to copy more than $1 million worth of 
copyrighted software for free. The authorities said David L&Mao- 
chia, 20, who was charged with conspiring to commit wire fraud, ran 
the bulletin board. * hyt, Rmm, AP 


Flight Attendants Push 
A Symbol Out the Door 




■i - j £> » ~ 


in. 


iiur 

lie* 


at a; 


By Richard M. Wemtraub 

Washington Post Service 

WASHINGTON — First the no-marriage rule fell. Then the no- 
children rule, followed by the too- old rule. Now one of the last symbols of 
- r the flight attendant as a sex object is being tossed on the trash heap of 
. airline history: the weight chan. 

Wi± an agnrement by USAir to abandon weight limits as a condition 
___ of employment, only a handful of airlines insist that they can suspend or 

dismiss a* flight attendant based on a line cm a scale. 

“With this settlement, the airline will finally stop using weight as a 
? * J means to evaluate flight attendants and recognize us for our contribu- 

\ ; if S JIM 5 lions as safety professionals,” said Carol Austin, the head of the USAir 
'- l *-* 1 ' flight attendants’ union. “Performance on the job, not weight, should 

determine whether a flight attendant is capable. 

USAir agreed to settle the issue with its 9,300 flight attendants and the 
Equal Employment Opportunity Commission, which had sued the airline 
on the grounds of sex and age discrimination for barring women from 
flyin° because they failed to meet weight requirements. 

The rujc^ once common among airlines, are hangovers from a day 
when the flight attendant was young and single and called a stewardess 
and society looked Quite differently than it does today on the role of 
women in the workplace. . 

Just as times have changed, so have flight attendants. 

Andrea Butler, a spokeswoman for USAir, said: “1 think the image we 
may have had years ago — that this was an ideal job for a young woman 
to see the world and meet people — is no longer true. It is more a service 

career and a lifestyle choice.” . 

Nancv Segal, an attorney for the Association of Fbght Attendants, 
said: “The flight attendant population is getting mcreasmglyolder and as 
n#nnii» am it is increasingly more difficult to m aintai n weight. 

M USAit! much change was flowed. A 5-foo.-2 (lJ8- 

meter) flight attendant could weigh no more than 125 pounds (57 
^ ltilograms^ according to the now-bamied *«ght chart. She could add 3 
*■’ no iinds for each decade, at age 30. 40 and 50. . „ , 

* Thelawsuit is m outgrowth of a waght policy begun at ftedmont 
Airlines, which was merged into USAir in 1989. ... . 


Whitewater Papers 
Are Cooing on Sale 

Qinton’s Former Business Partner 
Hands Media an Ethical Bombshell 


By Susan S chmi dt 

Washington Post Service 

WASHINGTON — James B. 
McDougal. President Bill Clinton’s 
former business partner, is offering 
to sell copies of documents on the 
Whitewater real estate deal for 
$4,000 a set. 

Mr. McDougal’s lawyer, Sam 
Heuer, told news organizations 
that 2,000 pages of records that the 
White House turned over this week 
to Mr. McDougal would be made 
available Tuesday. 

- But news organizations will have 
to pay $2 a page if they want 
copies. Mr. Heuer said. The money 
will go toward paying for Mr. 
McDougal’s legal defense. 

“Jim will malcp. comments and 
wiO make himself available to those 
who purchase them.” Mr. Heuer 
said. 

He called it a “one-time deal” 

Stephen Hess, a media scholar at 
the Brookings Institution, said: 
“What a glorious scam. It’s a new 
definition of chutzpah.” 

Although news organizations 
routinely pay costs for reproducing 
documents, many were struggling 
with the ethical questions that 
would be raised by the purchase of 
Whitewater documents. 

David Kendall, the lawyer for 
the Clintons handling matters re- 
lating to the special counsel’s 
Whitewater investigation, reiterat- 
ed the White House's refusal to 
make the documents public. 

Mr. McDougal, forma owner of 
Madison Guaranty Savings & 

I -nan , a failed thrif t at the center of 


2 More Are Investigated 
In Mexico Assassination 


By Tod Robberson. 

Washington Pm Service 

MEXICO CITY — Two more 
potential conspirators — one of 
them an internal intelligence agent 
— are under investigation in the 
March 23 assassination of the 
country's leading presidential can- 
didate, Luis Donaldo Colorio, ac- 
cording to the government. 

The Interior Ministry said in a 
statement Thursday that Jorge An- 
tonio Sanchez Ortega, an agent of 
the National Investigation and Se- 
curity Center, has been suspended 
from his job while be is under in- 
vestigation for posable involve- 
ment in the assassination. The 
agency, which deals with internal 
intelligence, is under direct presi- 
dential authority, 

Mr. Sfinchez has told police that 
as part of his normal duties he was 
at the political rally in Tijuana 
where Mr. Colosio was shot. Mr. 
S&nchez is quoted in a government 
oommunique as saying he rushed 
forward 200yards to assist in evac- 
uating Mr. Colosio after the shoot- 
ing 

The police said they arrested Mr. 
S&nchez that day after noticing 
blood stains on his clothing, and a 
subsequent paraffin test showed 
what could be traces of gunpowder 
on his hand. 

The special prosecutor, Miguel 


Montes Garda, said the second 
new suspect, identified as Salvador 
Hern&ndez Tomasini, was shown 
in videotapes and photographs 
wearing a black hat and sunglasses 
as he approached Mr. Gotoao and 
attempted to distract the candidate 
just before the {tilling. 

At least five men, including the 
accused gunman , Mario Aburto 
Martinez, have been arrested. 

Although investigators so far 
have come np with no coherent 
explanation for the killing, the ex- 
panded list of suspected co-con-“ 
spirators and inclusion of party 
members in the investigation added 
to speculation among many Mexi- 
cans that the assassination was po- 
litically motivated. 

At the same time, some Mexican 
officials have suggested that evi- 
dence points to a link between the 
alleged conspirators and a power- 
ful Tijuana-based drug cartel 

An official, who declined to be 
identified, said' the government's 
investigation into the assassination 
“is pointing toward a connection” 
with major narcotics traffickers 
whose main base of operations is 
Tijuana, But law enforcement 
sources here, as well as on official 
of the US. Drug Enforcement Ad- 
ministration, said they have found 
nothing to back up such an asser- 
tion. 



MRS It 

CARR'S HUSH 

RESTAURANT RA* 

LETOHDE PARIS 

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the special counsel's Investigation, 
and his former wife, Susan, were 
joint owners with the Clintons in 
the Whitewater real estate venture 
in the Ozark Mountains. 

Mr. Hess said the Clintons 
should ask Mr. McDougal to re- 
lease the documents at cost. 

“They, as public officials who 
have a stake in this thing, might 
request the release of these papers,” 
be said. 

The documents include at least 
some of the Whitewater material 
removed from the office of Vincent 
W. Foster Jr n the former White 
House dqputy counsel who com- 
mitted suicide last July . 

Mr. Foster handled the Clintons’ 
sale of their stake in Whitewater to 
Mr. McDougal for $1,000 in De- 
cember 1992. At the time, he agreed 
to prepare three years of back cor- 
porate tax returns on Whitewater 
and to send ah the records back to 
Mr. McDougal. Mr. Foster com- 
pleted the tax returns in June, 
shortly before his death. 

The former White House coun- 
sel, Bernard W. Nussbaum, kept 
the documents from U.S. Park Po- 
lice and FBI investigators Looking 
into the suicide last rammer and 
turned Mr. Foster’s Whitewater file 
over to Mr. KendaH 

In a related development, a 
White House staff secretary, John 
Podesta, testified before a grand 
jury in Washington looking into 
whether there had been improper 
contacts between White House and 
Treasury Department officials on 
the progress of the Whitewater in- 
vestigation. 


Mitchell In for the Stretch 

WASHINGTON —The White House said 
that it foresaw no difficulty should George J. 
Mitchell stay on for some time as leader of 
the majority Democrats in the Senate in the 
event of his nomination by President Bill 
Clinton to fin the impending vacancy on the 
Supreme Court 

Presidential aides made it increasingly 
dear that the senator from Maine was the 
leading candidate to replace Justice HanyA. 
Blackmun, who is retiring from (he court The 
White House press secretary, Dee Dee Myers, 
sought to miniffiizg concern about whether 
Mr. Mitchell could function as a nominee 
while doing the president’s partisan duty in 
the Senate. 

Among Republicans, only Representative 
Richard K. Armey of Texas has publicly 
suggested that to nominate Mr. Mitchell 
would improperly politicize the court 

But at the White House and in Congress, 
some senior officials expressed apprehension 
that the steps necessary to elevate Mr. Mitch- 
ell to the court would either leave him vulner- 
able to criticism or put the president's health- 
care plan in jeopardy. 

As majority leader, Mr. Mitchell is expect- 
ed to play a pivotal role in helping the presi- 
dent gain passage of his program to overhaul 
the nation’s health-care system. 

If anything, Ms. Myers said, the prospect 
that Mr. Gmton might ask the senator to 
wear both political and judicial hats this 
s ummer “would Only enhance his Statute.” 


She emphasized that she was speaking only 
speculatively, however, and she and other 
officials masted that Mr. Clmton was no- 
where near a decision. {NYT) 


Health Expert to Retire 

WASHINGTON — Representative J. Roy 
Rowland 68, one of two physicians in Con- 
gress and a leader in the House of Represen- 
tatives on health issues, announced Thursday 
that he would retire at year’s end to return to 
private life. 

The announcement from the Georgia 
Democrat raised to 43 the number of House 
members retiring or leaving to seek higher 
office. The voluntary departures have kept 
dose to the 1 992 pace, when redistricting and 
an internal banking scandal in the House 
contributed to a postwar record 65 lawmak- 
ers leaving. As of April 9, 1992, 47 House 
members had decided to quit. 

Twenty-five Democrats and 18 Republi- 
cans have announced they will not seek re- 
election this year. Earlier this week. Repre- 
sentative Jamie L. Whitten, Democrat of 
Mississippi, and Representative Tun Bacchus. 
Democrat of Florida, said they would retire, 
while Representative Don Sundquist, Repub- 
lican of Tennessee, formally declared his can- 
didacy for governor. 

Mr. Rowland said his decision was a sim- 
ple one to resume life as a private citizen and 
had nothing to do with frustration with Con- 
gress or his re-election prospects. (WPJ 


Sum Virginia Lead for North 

WASHINGTON — Despite relentless as- 
saults on his integrity, mental stability and 
far-right conservatism, Oliver L. North ap- 
pears for now to have the narrow majority of 
delegates he needs to win the Republican 
nomination to run for the U.S. Senate from 
Virginia, several political analysts and un- 
aligned Republicans say. 

Although vote shifting may continue until 
the June 4 Republican state convention, esti- 
mates put the court for first-time candidate at 
slightly more than 50 percent. 

Party activists say the enthusiastic base 
that Mr. North has built among voters in 
mountainous southwestern Virginia and the 
tobacco belt appears large enough to counter 
urban support for his opponent. James C. 
Miller 3d, who is hovering at 40. percent. 


Predictably, both candidates claim they are 
uggest.They 
also agree that the race's volatile climate 


doing better than the estimates suggest. 


means nothing may be certain until the con- 
vention. - • 

Such a turnout would be far more than 
initial estimates and a sign of intense interest 
among the party faithfuL (WP) 

Quote/ Unquote 

President Clin ton, speaking in Fairway, 
Kansas: “One of the things that bothers me is 
that sometimes I think that out here in the 
country folks are worried that nothing’s get- 
ting done in Washington because of what 

they read about in the papers.” (NYT) 


AIDS Virus May Switch On Cancer Gene 


By Gina Kolata 

Ne w York Times Service 

NEW YORK — Researchers in 
San Francisco say the AIDS virus 
may directly cause a cancer of the 
imm une system by ino-rring itself 
into a cell’s DNA and switching on 
a dormant cancer gene. 

Doctors have thought that these 
cancers in people with AIDS were 
always caused by the suppression 
of the immun e system by HIV, the 
virus that causes AIDS. 

In a paper published Friday in 
the journal Cancer Research, Dr. 
Michael McGrath and his col- 
leagues at the University of Cali- 
fornia at San Francisco report that 
they found lymphomas, cancers of 
immune system cells, in four AIDS 
patients that appeared to have been 
caused directly by the virus. 

Dr. McGrath said he had exam- 
ined 30 patients with unusual lym- 
phomas m which HIV was present. 
He said that since he submitted his 
paper in December, he studied 10 


more patients and found three 
more in which the vims was near 
the same cancer gene. 

Dr. McGrath said in an inter- 
view that although his evidence was 
not irondad, the data suggested the 
virus caused the cancers. 

Even if the link is proved, other 
scientists said the cancers caused 
directly by the virus appeared to be 
so rare that they would have virtu- 
ally no significance in the overall 
devastation caused by AIDS. 

Dr. Carlo Croce, an expert on 
lymphomas and director of the 
cancer center at Thomas Jefferson 
University in Philadelphia, said the 
finding might be interesting to re- 
searchers because only animal can- 
cels had been proved to result from 
the direct integration of a virus into 
a cell's genetic material. But he said 
the rfmieal significance was Kkely 
to be minimal. 

People with AIDS have about a 
30 percent chance of getting ' 
phomas and, in virtually all of 


cancers, HIV is not in the DNA of 
the cancer cells, he said. The lym- 
phomas arise became the virus sup- 
presses the immune system, he said. 

Bernard Poiesz, an expert on 
cancer and AIDS at the State Uni- 
versity of New York Health Sci- 
ence Center at Syracuse, said that 
“from a sriwi tifir. viewpoint, it 
would be very interesting that this 
could occur/ But, he said, from a 
clinical viewpoint, “it would be just 

niVlthffr nf thftmnny thing s that can 

happen” to a person with HTV. 

He added that cancer caused by 
the direct insertion of HIV into a 
cell's DNA, “is infrequent and not 
of any particular cause for alarm.” 

HIV is a retrovirus, a type of 
virus that normally inserts itself 
into a cell’s DNA. But, for the most 
part, it inserts itself randomly in 
the DNA. 

Dr. McGrath said this made it all 
the more striking that the virus in- 
serted itself in almost exactly the 
same spot in lymphomas in four 



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patients. In each case the virus was 
close to a dormant cancer gene. 
“The odds are milliODs to one” 
against that happening by rihanra, 
he said. Instead, he proposed, the 
virus may have been attracted to 
that area and may have activated 
the cancer gene. 


I 





SATUBDAY-SUNDAY, APRIL 9-10, 1994 

OPINION 


Herald 


INTERNATIONAL 



Srtbunc Russia ’s ' Near Abroad 9 Is Not Orw Place 


PUBLISHED WITH THE HEW YORK TIMES AND THE WASHINGTON POST 

Death in the Mideast, Again 


The enemies of Middle East peace have 
struck again, slaughtering yet more innocents 
and threatening new disruption of negotia- 
tions between Israel and the Palestine libera- 
tion Organization. 

The murderous hatreds that inspire Israeli 
and Palestinian zealots did not begin with 
Baruch Goldstein’s mosque killings in He- 
bron. They are not likely to end with the latest 
atrocities by Hamas — the car-bombing of a 
bus m Afula on Wednesday, killing eight 
Israelis; a bus-stop shooting in Ashdod on 
Thursday; and a threat of still more attacks. 

But the best response to violence on both 
sides is rapid conclusion of arrangements be- 
tween Israel and the PLO to begin transfer- 
ring local authority in the occupied territories 
to Palestinian hands. Talks should resume, as 
scheduled, on Sunday. 

Last month Yasser Arafat, the PLO chair- 
man, faced down an emotional revolt cm the 
Pales tinian side against continuing negotia- 
tions with Israel after the Hebron killings took 
place. Now, after these attacks said to be in 
revenge for Hebron, Prime Minister Yitzhak 
Rabin must also stand up to Israelis angrily 


demanding that the talks be broken off. 

Turning over the policing of Palestinian 
residential areas to a Palestinian force, as 
envisioned in the autonomy talks, might pre- 
vent another Hebron. Il world make no direct 
contribution to preventing other Afulas and 
Ashdods. Hamas’s attacks occurred not in the 
occupied territories but within Israel's pre- 
1967 borders. But surely progress toward 
peace in the volatile territories could have a 
calming effect in Israel proper. 

True, progress toward peace seems only to 
provoke Hamas zealots to greater violence. 
But within the broader Palestinian population 
from which Hamas draws its recruits and 
sanctuaries, peace is likely to create a more 
constructive dynamic. 

Harms’s terror campaign is aimed as much 
at the PLO as at Israel But the reaction of 
PLO leaders has been strangely, and discon- 
certingly, subdued. On Thursday, the PLO 
did belatedly issue a pro forma statement 
deploring the Afula attack. Regrettably, 
Yasser Arafat himself has not yet seen fit to 
condemn the Hamas killings. 

— THE NEW YORK TIMES. 


Squeezing the Drug Pariahs 


If a foreign government were secretly mak- 
ing or shipping powerful explosives into the 
United States, where they blew op and killed 
thousands ol Americans, the act would be 
defined as international terrorism and treated 
as such. So too the involvement of foreign 
governments in producing or shipping narcot- 
ics, which lay waste whole communities and 
destroy countless lives. Official complicity 
and lax law enforcement amount to a deeply 
hostile polity In the past the United States 
has been slow to weave drugs into the fabric of 
foreign policy. But the annual executive 
blacklist of nations that fail to cooperate in 
international anti-drug efforts has become a 
useful strand. Its listing costs a country heavi- 
ly in access to American and international aid. 

Tbe new name on the list of shame tins year 
is Nigeria. In recent yean its citizens' renowned 
entrepreneurial talents have been increasingly 
turned to the drug trade. American officials 
report that an international cocaine and heroin 
transportation network has been set up, not 
just by individual “mules’’ but by organizations 
employing thousands of Nigerians and others. 
It has enjoyed the protection and in some cases 


the participation of militaiy regimes in Lagos. 

The other names on the list are carryovers 
— Iran, Burma and Syria. Of the three, only 
Syria was a hard call, because of its role in the 
Middle East peace talks. Its indulgence of 
drug-based corruption in Lebanon's Bekaa 
valley, which Syria controls, tipped the deci- 
sion to include it on tbe list. 

It came naturally to the Qin ton administra- 
tion, centered as it is on a domestic agenda, to 
take seriously a procedure aimed at fighting 
the drug menace on American streets. Since 
1985, Congress has required the president to 
certify a receiving country’s aid-worthiness on 
the basis of its anti-drug polity Of countries 
certified, some get a clean bill erf health while 
others are certified, despite a poor record, 
only by a national-interest or political waiver. 
In the latter category this year are repeaters 
Afghanistan and Lebanon and first-timers 
Laos, Bolivia, Panama and Porn. A waiver is a 
yellow Tight Idling the affected country that 
the United Stales still means to take what 
steps it can to bring the country up to interna- 
tional standards in the deadly drug war. 

— THE WASHINGTON POST. 


The Justice Leaves Big Shoes 


It comes as no surprise that the Supreme 
Court's oldest member, who has served al- 
most a quarter of a century, has decided to 
retire. Justice Harry Blackmon, in good health 
and good spirits, had publicly speculated 
about stepping down, but then confounded 
observers by tbe enthusiasm with which he 
addressed each new question before the court, 
the vigor of his participation in decision- 
making and the youthful spirit of learning and 
change that kept him constantly reassessing 
earlier positions and making the adjustments 
he believed were necessary. 

In Roe v. Wade, he wrote the opinion that 
has had the most significant social impact of 
any decided, while he was on the court Youn- 
ger Americans did not know the days when 
abortion was illegal and unsafe, but it is 
important to remember the conditions pre- 
vailing at that time to appreciate Justice 
Blackmon's courage and leadership. 

Like Justice Byron White before him. Justice 
Blackmun was appointed to the court try a 
president who had every right to be surprised 
by his later performance. President John F. 
Kennedy had named a man who turned out to 
be far mere conservative than expected. Presi- 


dent Richard Nixon, relying on the advice of 
his friend Chief Justice Warren Burger, un- 
doubtedly thought he was choosing the chief’s 
“Minnesota twin," as souk dubbed him at die 
time. But Justice Blackmon, almost from the 
be ginning, sought to separate himself from the 
pattern set by Ira childhood friend awl asserted 
independence on the bench. That he has done 
so probably means no ooe chosen by President 
BiD Clinton to replace him wifl significantly 
alter the court's ideological composition. 

Justice Blackmun has given the president 
the courtesy of early notice. He told Mr. 
Clinton of his plans months ago, and he has 
made his decision public wefl in advance of 
the beginning of the 1994-95 term, in October. 
The president presumably has begun assess- 
ing candidates for the court in his mind. Now 
the search goes public, but it should not be a 
long one. The candidates who are mentioned 
were either studied for this position the 
last time around or are known to the president 
personally. A staggering workload lies ahead 
of the Senate this summer. The sooner the 
president sends up his Supreme Court nomi- 
nation, the better. 

— THE WASHINGTON POST. 


Lives Saved? Why Bother? 


We had rwi realized just how nmy Amen- . 
cans have been inconvenienced by the Brady 
law — which requires a waiting period while 
would-be gun purchasers are checked for 
criminal records — until we heard about the 
latest glaringly absurd findings of an NRA 
official, who concluded: “The Brady law 
doesn't focus on criminals. They are cot going 
after c riminals. They are bothering citizens.” 
We do not yet have the latest statistics on 
citizens who have been bothered by having to 
comply with the Brady law, but the number of 
what they might call terminally inconven- 
ienced Americans — people killed by hand- 
guns — is, as always, a world record. Still, 
Rick Sellers, chairman of the NRA’s Crimi- 
nals Cause Crime Coalition, is not impressed 
by the number of criminals who jnst hap- 
pened to be bothered by the Brady law in its 
first month erf operation. 

Though this initial number is not enormous, 
the law prevented handgun purchases by at 
least 1,605 people — including fugitives and 
felons convicted of armed robbery, murder and 
manslaughter, according to reports freon 15 
states and cities. And these were not just agitat- 
ed consumers who merely wanted to stop and 
shop and shoot on the way home. Forty-four 
people who were fugitives or facing outstand- 
ing warrants were denied guns. One of these 


would-be customers was wanted for sexual 
assault; he was arrested in a gun store. There 
were rapists, armed robbers and a convicted 
murderer in the month’s catch. If you add in 
statistics from states and localities that already 
had similar or tougher laws in effect before the 
Brady law, tbe month produced 375,853 back- 
ground inquiries to the FBI’s computerized 
nrmHnal information network. Out of this, 
there were 23,610 posable felons identified. 

According to the Bureau of Alcohol Tobac- 
co and Forearms, an average of 90,000 back- 
ground checks are now being done every week 
under the Brady law. About 16 percent of the 
applicants show arrest records, and roughly 6 
percent of this group are people with felony 
arrest records. Should people whose lives are 
being saved by this law ■ — or survivors of the 
victims — apologize for inconveniencing other 
citizens? Or should they take heart that sensible 
standards for handg un ownership and public 
safety can actually save some Eves? They may 
well find that there are still other inconve- 
niences that might save lives — which is the 
thrust behind “Brady 2,” a bill caOmg for some 
mote protections: licensing, registration and 
bans on certain weapons that are not at all the 
stuff of leisure sports. Why bother? It’s only a 
matter of life and death. 

— THE WASHINGTON POST. 


International Herald Tribune 

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viW.haeoiaiinlHmJdTrhnr. AB rirfas mined. ISSN: 


P ARIS — Russia's relationship with the West- By William Pfalf 

era powers is fundameataDy influenced by J 

relations with what Moscow describes as the . . 

“near abroad.” Evayonc sees this, but not every- request was impossible to grmti as obviously 

one distinguishes between Russia's legitimate violating the prmriples governing UN noop de- 
interests within the frontiers of what once was payments, be said that it was p«sible that 
the czarist empire and its interests elsewhere. arrangements could be made by which the 
Some in Washington are anxious about re- sians would act in the region in close coopera- 

newed Russian imperiaiiszj} or alleged apart- tion” with tbe United Nations, and be consid- 

aonian, while others want Russia to police tbe cred UN peace “observers.” . . . 

tumultuous ex-U.S-SiL, or even favor an Ameri- Russia’s concerns inside the ex- Soviet Union 
can alliance with Russia “to contain China." derive Iran tbe fact that most of the new state 
Mn^h nf this seems overwrought American poll- there have never had independent swieboodinthe 

cy has been erratic as a consequence, and the modem sense, or have done so only bnaJy. 
Russian government, despite its internal confu- Ukraine d aimed independence in 1990 and still 
sions, has been able to exploit this. has nuclear forces, a convincing argument m sup- 

It disposed — with expedition and no little port of that daim. However, it is an unconvincing 

cynicism — of the idea that NATO protect the claim historically. Like Belarus, Ukraine was a 

East European countries. Moscow convinced region populated by Slavs and fought over by the 

Washington that NATO membership for the Great Russians, Poles and Lithuanians. Its nation- 

East Europeans would be considered a hostile alfem is a 19th-century development 

act, provoking Russian nationalism. Washington The Baltic nations, on the other hand, were 
responded with its nebulous proposal of a “Pan- independent between the world wais- Lithnania 

nership for Peace." Moscow then said that h was a united nation in the 13t h centu ry, in t he 14 th 
wanted to join the partnership too, but on priyi- century even establishing an empire that incor po- 
leged terms — not like the mhos. The project rated part of Great Rasaa and _ extended from the 

was thus deprived of any sense whatever. Baltic to the Black Sea. Estonia and Latvia have 

Moscow has also asked that the United Na- always had their connections to Central Europe 
dons grant “blue helmet’’ status to its 15,000 and Scandinavia — and to Finland. Their histon- 
troops deployed across the former Soviet Union, cal claim to independence is a reasonable one, as 
where they have served as peacemakers or peace- Moscow today acknowledges, 
keepers in old ethnic and national quarrels but The United States supports the independence 
are a vehicle of Russian power in regions of of all of the states that have come out of the 

feeble autonomy and disputed rule. breakup of the Soviet Union. However, it is 

UN Secretary-General Butros Butros Gfaali necessary to face tbe fact that not all of them 

was in Moscow at the beginning of this month, have what it takes to govern themselves rffec- 

and while be indicated to the Russians that their lively, and that Russia's interest in containing 


disorder in the region is not illegitimate. 

We are dealing with the breakup not only of 
the Soviet Union but substantially with that of 
the czarist empire, three centuries old. Disman- 
tlement of historical Russia is not necessarily a 
Western interest, nor is Western interference 


arrangements could be made by which the Rus- 
sians would act in the region in “close coopera- 
tion” with tbe United Nations, and be consid- 
ered UN peace “observers." . . 

Russia’s concerns inside the ex-Soviet Union 
derive Iran the fact that most of the new states 
there have never had independent swiefaoodmjhe 
modem sense, or have done so aruy hnefly. 
Ukraine claimed iolcpendcncc in 1990 and still 
has nuclear forces, a convincing argument in sup- 
port of that daim. However, it is an unconvincing 
Hpim historically. Like Belarus, Ukraine was a 
region populated by Slavs and fought over by the 
Great Russians, Poles and Lit huanians . Its nation- 
alism is a 19th-century development. 

The Baltic nations, cn tbe other hand, were 
independent between the world wars. Lithuania 
was a united nq r-irm in the 13th centurv, in the 14th 
century even establishing an empire that incorpo- 
rated part of Great Rasaa and extended from the 
Baltic to the Black Sea. Estonia and Latvia have 
always had their connections to Central Europe 
and Scandinavia — and to Finland. Their histori- 
cal riairp to independence is a reasonable one, as 
Moscow today acknowledges. 

The United States supports the independence 
of all of the states that have come out of the 
breakup of the Soviet Union. However, it is 
necessary to face tbe fact that not all of them 
have what it takes to govern themselves effec- 
tively. and that Russia's interest in containing 


The independence of the East European States 
is an entirely different affair, and their defense a 
dear Western interest Mr. Clinton's government 
rives the impression of not having fully grasped 
Sis point Moscow certainly understands it per- 
fectly. This is what the Cold War was all about 
The essential outcome of the Cold War — the 
West’s “victory” — was that Poland, Romania, 
Czechoslovakia, Hungary, Bulgaria and East 
Germany regained the independence Stalin had 
taken from them. It is a fundamental American 
and West European interest that they keep it. 
There is a legitimate Russian interest in secure 
borders and nonthreatanngneighbm, which is 
weD understood in the West. There is no legiti- 
macy to any Russian daim to have satellite states 
cm its frontiers. 

It is impossible to deal intelligently with the new 
Russia unless one undexstaiBis the imped ance of 
this distinction, between states possessing histori- 
cal existence and a proven abiEty to govern them- 
selves mid those who want such a status but have 
not yet demonstrated that they are capable of it. 
This is why the fiasco over NATO guarantees to 
Eastern Europe was an important event. It coo- 
fused rather than clarified what Russia has a right 
to expea from its neighbors, and what the West 
should expect from Russia. 

International Herald Tribune. 

© Los Angeles Tones Syndicate. 


A Democratized U.S. Policy , for Poles and Others 

By Stephen S. Rosenfeld tttZ&SS&SSS, 


W ASHINGTON — In the Pol- 
ish Embassy here the other 
evening, a probing but somewhat 
forlorn discussion unfolded on the 
an guishing moment in Wold War 
II when Poland escaped Nazi tyran- 
ny only to fall under Soviet com- 
munist tyranny. It was a group 
pained at the thought that the Unit- 
ed Slates had not done what it 
mi g ht have to head off that terrible 
passage. Even today, Poles can 
imagine that they might again be 
left to Russian mercies. 

Yet I wonder whether America’s 
Polish friends, and many others, 
have caught the new drift 
A foreign policy revolution has 
taken place in America since tbe war. 
The process of derison-making has 
been substantially democratized. No 
longer is control of policy centered in 
an upper-class elite composed of 
President Frankfin D. Roosevelt and 
his leading advisers. This wartime 
craps had its undeniable achieve- 
ments in fashioning a global coali- 
tion and triumphing over a deter- 
mined foe. But its hmitatious were 
revealed in audal decisions affect- 
ingthe shape of the postwar world. 

The replacement of this elite over 
the decades by a circle of more 


representative Americans is surely a 
large part of the reason the United 
States has moved from then aban- 
doning Poland to now p ut ting itin a 
queue to apply to NATO. 

In World War II America, it 
wasn’t simply that policy was run 
by well-born Anglo-Saxons. They 
were the ones who got first crack at 
rirfinfng the American national in- 
terest. The way they did it had mnch 
to do with high strategy, but it also 
had more than a little to do with 
bloodlines. There was no conspira- 
cy, but a cultural context in which 
certain favored people did what 
came naturally. 

In tbe Second World War as in tbe 
First, a concern for the Anglo-Sax- 
ons' homelands of Britain and 
Northcm/Westem Europe came to 
be identified as a national interest In 
World War D, group wdl down the 
social ladder, like the Foies and the 
Jews, found that their fdlow citizens 
regarded the fate of their kin not as 
national business but as ethnic or 
“merely” humani t arian in nature. 

It was no small semantic differ- 
ence. The designation marked an 
immense political as weft as social 


Just a One-Act Charade, 
Leaving Israel Exposed 


divide. Saving the one became an 
American war arm, and it was ac- 
complished. Saving the others was 
not a strategic priority, and it was 
not accomplished. The war regener- 
ated American democracy, extend- 
ing more widely throughout the 
population its social op p ort uni ties, 
material benefits and political privi- 
leges. Thus were sources and direc- 
tions of foreign policy affected. 

Not that grand strategy had noth- 
ing to do with it But the fact is, 
Sovietized Eastern Europe, twice 
left in the lurch (Mmrich 1938, Yal- 
ta 1943), became the region whose 
destiny was perceived to be tbe 
principal stake of the Crdd War. 

A factor of historical guilt came 
to the fore. The importance of guilt 
in drawing American support to tbe 
establishment erf Israel as a Jewish 
homeland is well known. Less well 
known is that, as Robert Gerald 
Livingston has written, the West 
finally responded to the centuries- 
old appeal of Poles, Hungarians, 
Czechs and Slovaks to be Catholic 
Christendom’s bulwark against the 
Orthodox (and Muslim) East 

Understandably, those who 




stood to lose status (though not se- 
curity) from this postwar trend have 
not been entirely comfortable about 
h. I recall bearing the late W. Aver- 
dl Harriman, a member of the old 
foreign policy dob, vrisecraclring of 
new arrival Zbigniew Brzezmski, 
Jimmy Carter’s Palish-born nation- 
al security adviser “He's too Zbig 
for his zbritches.” 

Decision-making on Asia follows 
a separate pattern. Policy, in Europe, 
whence many Americans come, is 
mare or less open to ethnic politics. 
Policy in Asia, whence few Ameri- 
cans come, is marked by the piay at 
economic interest groups. Democra- 
tization there takes another farm. 

The extension of foreign poficy 
privileges to ethnic or racial gr ays 
on the edges of power in American 
society is stiQ incomplete. A look at 
American polity toward Haiti, for 
instance, nates plain that Hacks still 
lack the leverage and deference mere 
favored groups enjoy. But there is a 
trend to making ptifity democratic 
or, if you wflJ. multicultural. And 
although the foies and other East 
Europeans have their reasons to be 
skeptical, no one has benefited more 
than they from tbe change. 

The Washington Past 


By A. M. Rosenthal 


N EW YORK — In Cairo, Yasser 
Arafat is asked for comment on 
the slaughter of the bus passengers 
in Israel by a Palestinian terrorist. 
He turns and walks away. 

From Hollywood the same day 
came a stray about Islamic attitudes 
toward Jewish lives, and Jewish 
deaths. In Islamic countries around 
the world, ‘‘Schindler’s List" is being 
banned — labeled as obscene, pro- 
Jewish, anti-German or all three. 

Jews, and friends of Jews, who do 
not pay attention to those events and 
who fau to see their connection to the 
chances of a lasting Middle East 
peace make a serious error. 

Tbe goal of tbe talks between Ar- 
abs andtbe Israeli Labor government 
is land forpeace. It is already half- 
achieved. The Arabs are getting the 
land. Far ahead erf a final peace set- 
tlement, the Israelis are committed to 
turn over Gaza and Jericho to the 
Palestinians any day now, and pro- 
oeed to roD themselves out of most of 
the rest of the West Bant Pakstmian 
police patrols are already there. 

The Palestinians will declare an in- 
dependent stale whenever they wish. 
Most of the world will recognize it. By 


Israels agreement it will already have 
tire attributes of independence: con- 
trol of land, police power, bureaucrat- 
ic and legislative jurisdiction, a seat of 
government in Jericho. 

For Palestinians afi this is achieve- 
ment of great moment From land 
they rule themselves, they can build a 
state and make peace its great asset 

Or they can create a launching pad 
from which they and other Islamic 
nations can try to conquer all Israel 
That i55tiH tbe sworn objective of tbe 
Pales tinian movement, as it is the 
passion of Islamic fundamentalists 
around the world. Scores of millions 
of them live in Arab countries, and if 
fundamentalism comes to dominate 
the new Palestine, they will stand 
right on Israel's borders. 

The Palestinians' achievement was 
made posable by their own fortitude 
and decisions of the Labor govern- 
ment Prime Minister Yitzhak Rabin 
derided that peace was more impor- 
tant to Israeli life and security than 
holding the West Bank. 

The government then created a “ne- 
gotiating partner'’ — the collapsing 
Palestine liberation Organization. 
Foreign Minister Shimon Feres talks 


M0* 










of Yasser Arafat ^ with tenderness. Isra- 
el encouraged other governments to 
rive the Palestinians money and other 
bdp — the United Jericho AppeaL 

The Rabin government is ddiver- 
mg the goal of land to the Palestin- 
ians, on credit But Israel cannot de- 
liver to itself its own goal of peace. 

That will depend on whether lead- 
ers of Islam — not Israel not Wash- 
ington — will try to bring Muslim 
mmds and souls into some harmony 
with the Jews — or at least the 
ahseace of hate. 

That is the nub of the great Israeli 
gamble. It has not happened, of 
course. At the White House band- 
shake, Mr. Arafat carefully avoided 
triliqg the lis tening Islamic wipri d that 


Some Sense in the Singapore Approach 


W ASHINGTON - Michael 
Fay, an 18-year-old American 
living in Singapore, has been sen- 
tenced to flogging for vandalizing 
cars. The flogging, by rattan cane; is 
serious. It leaves permanent scars. 

The U.S. duugg d'affaires in Sin- 
gapore has protested. “Caning is on 
excessive penalty,” he said, “for a 
youthful nonviolent offender who 
pleaded guilty to repairable crimes." 
It is typically, arrogantly American 
robe instructing the Singaporeans on 
justice. Nothing could be more cer- 
tain to enrage them. 

Said one Singapore leader to a re- 
cent American visitor “A driver is 
hauled ool of his track and has his 
head smashed by rioters and they get 
off. A women cuts off her husband’s 
penis and she gets off. Two brothers 
shoot their parents and they get off. 
Now two Japanese students are shot 
dead by cagackers. And you are go- 
ing to teach us about jusuceT 
He did not get all die facts quite 
right But he made his point America 
is no paragon of justice. Nor, one 
might add, is Singapore. But for 30 
years, Singapore has conducted an 
experiment in crime and punishment. 
The results are worth studying. 

Everyone knows that punishment is 
most effective when it is swift and 
sure. In Singapore it is. Drug traffick- 
ing and aimed robbery bring a manda- 
tory death sentence. At tbe other end 
of the spectrum, tbe most trivial of 
offenses against order, like jaywalking, 
are punished too. The South China 
Morning Post notes that ’"most Singa- 
pore dozens supported the initiation 


By Charles Krandiainmer 


last year of a new campaign to pabGc- 
ly famwTtate convicted titterbags.” 

It works. Singapore is a city with 
no litter, no graffiti, no gang and 
almost no dime. “Women confident- 
ly stroll the streets late at night,” 
writes the Los Angeles Times corre- 
spondent in Singapore. “The subway 
is dean and muggings are rare.” 

Los Angeles, ro ughly equal to Sin- 
gapore in population, had 1,063 mur- 
ders in 1993, Singapore had 58. LA. 
had 38,167 robberies. Singapore had 
1.008. And this with a police force 
less than half that ol Los Angeles. 

This is not an argument for flogging 
vandals. It is an argument fra re-exam- 
ining America’s own deluded ideas 
about crime and punishment. For 30 
years, we Americans have poured 
time, money and brainpower into 
fighting the “root causes" of poverty 


There has been an amazing Ameri- 
can reaction to the Singapore flog- 
ging affair. Attempts to eucit popular 
support for Mr. Fay have bukfired. 
There has been remarkable support 
for Singaporean justice. 

This has come as a shock to some 
American commentators. But it is a 
natural reaction to the laissez-faire, 
everythin g-goes regime of the last 30 
years — vagrancy, p anhandling, van- 
dalism — that have oven U.S dries a 


be had pledged terrorism would end. 

The Palestinians have not canceled 
the death-to-Lsrael oath written into 
their covenants. The Arab world has 
not ended the boycott of Israel 
Israeli diplomats and a few other 
Jews are allowed into some And) 
countries once closed to them. Israe- 
lis say that some Arabs are doing 
quiet badness with. IsraeL 
That is not peace, that is a one-act 
charade that may fool Jews but not 
Mudims. These little graces are often 
not even revealed to the Muslim peo- 
ple. What they do know is that boy- 
cott and Hob' War continue, that 
Jews are murderers, thieves and the 
enemies of freedom — all taught by 
Islami/i propagandists and clerics 
from Jericho to Kuala Lumpur. 

The leaders of Islam have refused 
to deliver the one contribution — 
decency of word and conduct toward 
Israel and Jews — that might trans- 
form peace for land from a complete- 
ly untested theory into reality. 

Mr. Arafat made this plain enough 
when he turned away from the mur- 
dered Israelis without a word. And so 
did the story from Hollywood about 
the great Holocaust movie being too 
mean to Germans, too kind to Jews. 

77re New York Times. 


The Leaders 
Who Can 
Bring It Off 

By John Matuonn 

TOHANNESBURG — However 
tenuous the hopes of millions of 
South Africans, this country has good 
leadership for the first time since 
white men settled at the tip of Africa 
342 years ago — tf “good leadership" 
means leader? who face up to the 
fun damen tal issue, which is of course 
relations between blacks and whites. 

Certainly Nelson Mandela, presi- 
dent erf the African National Con- 
gress, and F.W. de Klerk, South 
Africa’s president, have their work 
cut out for them. 

The working committee of South 
Africa's Independent Electoral Com- 
mission, which is overseeing the first 
post-apartheid election, concluded 


in KwaZulu, homeland of Chief Man- 
gosuthu BothetezL The report fol- 
lowed weeks of violence between 
backers of bis tri y^tha Freedom Party 
and members of the ANG 

Mr. Mandela and Mr. de Klerk 
hare had to shift constai ^J frcTO 

govCTn'ro^^astdy ar- 
ranged phone calls and meetings to 
ensure that the banding over of pow- 
er happens smoothly after the end of 
voting on April 28. 

In recent weeks they have worked 
with great strategic sJaD to unstitch 
the garment of grand apartheid that 
required black “homelands” inde- 
pendent of the white stale. 

In March, the Bophuthatswana 
homeland was allowed to flounder in 
protest until the arrival of the South 
African Defense Force, welcomed by 
citizens in revolt against their leader, 
Lucas Mangope. Had the soldiers 
been sent in too eady, their loyalty 
might have been in doubt, caught 
between Bophuthatswana govern- 
ment soldiers. ANC demonstrators 
and white right-wingers Who had 
rushed to Mr. Mangope’s aid. 

Ten days later, a revolt in the 
homeland of Gskei proved easier to 
handle as civil servants bristled at the 
danger their outmoded political 
bosses posed to their job security. 
There the pension proved mightier 
than the sword. 

KwaZulu will prove far more diffi- 
cult to win over. for Chief Butbelezi is 
the one homeland leader with signifi- 
cant popular support This time, a 
different suutegy will be required. 

Hist prize, of course, would be 


and go into the section as scheduled. 

But Chief Buthdezi fears elections 
as modi as Mr. Mandela relishes 
them. The chief can read the polls, 
which do not offer him much nope, 
even in his own territory. He is likely 
to face a rout nationally, and he 
would need lojotn a coalition even to 
govern Kwa^ulo. The most likely 
outcome is that the dections proceed 
— as they must — without Inkatha. 

Where voting is impossible because 
of violence or mtimadation, Mr. de 
Klerk win deploy the South African 
Anny. Voting stations on KwaZulu’s 
winding bordera can also help because 
maty people who live there can cross 
the border and vote in NataL 

Whatever the exact outcome of the 
voting, Chief ButhelezTs political 
power wiB decline. Now, much of his 
clout rests on his subsidy from Pre- 
toria. And his power over the Zulu 
king, GoodwiD Zwdethini (who is 
also bis nephew), rests in torn with 
his subsidizing tbe kjng . 

But the king and Chief Buthdezi 
have not always been friends and will 
no doubt be Iras friendly in the future. 

After April 27, when South Afri- 
ca’s homelands are automatically dis- 
solved, the long’s paymaster will be 
President Mandela, not Chief Buthe- 
lezL Mr. Mandela has proved over 
and over that he understands the 
public and private exercise of power. 
He will be respectful of the king. He 
wiD ensure him an honored place in 
society, perhaps by making him a 
constitutional monarch over the Zu- 
lus. And he will begin to withdraw 
Chief Buthetezi's prerogatives. 

Mr. Mandela should start by re- 
moving Chief Butbelezi as minister of 
the notorious KwaZulu Police. Then 
be should slowly begin to centralize 
other departments of government, 
such as education and health. 

It is true that violent resistance 
could accelerate after the elections. If 
it does, Mr. Mandela has made it 
dear that he will act forcefully. 

In time Chief Buthdezf spower will 
revert to something proportional to his 
waning public support. As in the de- 
scription of Haile Selassie in Ryszard 
Kapuscinski’s “Tbe Emperor, one 
day someone may jnst come and drive 
away tbe official hmousine. 

The writer, a South African jour- 
nahst contributed this comment to 
The New York Tones. 


alienation. And ... surprise. The root 
causes are stiQ with us, and the crime 
rate has tripled. 

In Singapore, they do not give a 
hoot about root causes. They could 
care less about Erik Menendez’s (al- 
leged) child abuse or Lorena Bob- 
bitt's “insanity," And they have prac- 
tically wiped out crime. 

They also do not care much about 
individual rights. There is no protect 
tion against sctf-incriminatioo, no 
trial by jury. The police can order a 
drug test on die spot — and, if posi- 
tive, you go immediately into reha- 
Witation for up to three years. 


payable sense of danger and decay. 
In America, it is even difficult for 
police looking for guns to inspect 
school lockers for fear of violating the 

^d^dvil^CTiari^ ^ 

driving people to applaud the flog- 
gingin Singapore — and worse. 

Toe backlash is craning. The best 
argument for a moderate retreat from 
(he extreme libertarianism that has 
left America’s public maces in decay 
is that the alternative is full retreat: 
As the chaos deepens, the calls for an 
authoritarian solution wiD grow. 

Lot* at Russia. It Is Irvingm a state 
of civil disorder that makes American 
society lode positively Singaporean. 
The result? Half the Russian people 
-voted for totalitarian rule. America is 
living somewhere between Singapore 
and Moscow, ff we Americans want to 
preserve our liberties in tbe long nm, 
we would do wdl to take one step 
toward Singapore. 

That need not mean the flogging of 
vandals. We could start with the pub- 
lic humiliation of convicted Htterbugs 
and work our way up. 

Washington Past Writers Group. 


m OUR PAGES; 100, 75 AND 50 YEARS AGO 


1894: Insult to tbe Shah 

BRUSSELS — A strange press case 
has just been instituted against a 
small paper, the Petit Journal Beige. 
Speaking of the forthcoming visit of 
the Shah of Persia to Europe; one of 
that paper’s chroniclers described the 
Shah as a thief, a bloodthirsty mur- 
derer, and an immoral wretch who 
should be immediately arrested on 


ancejs described as an “audible bea- 
con,” designed as a signal which ad- 
vises tiie aviator of weather condi- 
tions, and serves as an accurate mark 
for suitable landing places. The bea- 
con is said to be a combination of the 
new wireless telephone and tbe ordi- 
nary phonograph. Its operation is 
automatic and repeats tbe signal word 
designating the position. 


reaching European territory. Tbe . . . . 

Shah's representatives in Europe 1944: KUSSUUIS Advance 
sorndiow read tbe article, and imme- , v,_. 


diatdy asked the surrender of the writ- 
er to the Persian Sovereign. Of course 
this was declined with a anile by the 
Belgian Government, but the newspa- 
per is now being prosecuted far insult 
to a foreign and friendly Power. 

1919: Aviation Beacon 

WASHINGTON, D. C — Experts of 
the Army _ Signal Corps are experi- 
menting with an invenoon which they 

believe will help to make the aeroplane 
a commercial utility. The new contriv- 


LONDON — (From our New York 
edition;] Two powerful Rnssan ar- 
mies, sweeping ahead on a 230-mfle 
front, have hurled Aids troops back 
across the Hungarian-held Czecho- 
slovak border in the Carpathian 
Mountains and stabbed forty miles 

inside Romania, capmring more than 

480 villages in a swift chase of a bro- 
ken enemy. Moscow announced last 
night [April 8]_ A third Rnssan army, 
surging around all land rides of Odes- 
sa, captured thirty more localities, in- 
cluding Gildendoef, only eight miles 
northeast of tbe Black Sea port. 


' ;n 


t: ' 




• A;.. 




v: . • ■ 



> 


** 


AFTER HOS OKA Wi / 


INTER1NATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 9-10, 1994. 

f 

& 


ire 5 












Japan’s Reform Plan on Hold 

World Will ’Just Have to Wait’ on Economy 


By Steven BruU 

iBttrwrtoiw/ Herald Tribune 

— Until a stable politi- 
ral system emerges in the aftennath 
of PVune Minister Morihiro Ho- 
sotawa s resignation, Japanese bn- 
reaucr ® ls wedded to a slow, incre- 
mental process of decision-making 

NEWS ANALYSIS 


wll hold the cards in determining 
the pace and form of any economic 
reform. 

The rest of the world win just 
have to wait,” said Roger Buckley, 
a professor of Internationa} rela- 
uons at international Christian 
University in Tokyo. “There’s real- 
ly no Japanese government now or 
In the future to provide interna- 
tional economic policies.” 

The crosscurrents at work were 
apparrat in the immediate reaction 
of the Tokyo Stock Exchange to the 
news of Mr. Hosokawa's resigna- 
tion. 

The Nikkei index plummeted 
more than 300 points, hitting a low 


of 19.520, down from 19.862 at the 
mid-day break. But despite the ob- 
vious uncertainty the resignation 
created, there were some pot ential 
pluses, at least in the short term. 
Those prospects caused prices to 
rebound. The index closed at 
19,935. up 44 points. 

To the extent that politicians fo- 
cus on internal maghi*^rai« t the 
chances decline that Japan can de- 
liver a meaningful package of mea- 
sures to prime its economy and 
improve market access before its 
self-imposed deadline of the July 
meeting of the Group of Sevm in- 
dustrialized nations m Naples. 

Even Mr. Hosokawa, who ontfl 
recently enjoyed rather high ap- 
proval ratings, succumbed to 
strong bureaucratic resistance 
against more far-reaching plans to 
reform the tax system and untangle 
the thicket of regulations that ham- 
per growth and keep out lower- 
priced foreign goods. 

HlS successor, laclrmp similar 

popularity and saddled with an un- 
stable coalition, is Hkety to have 
less hick. 


JAPAN: Struggle for New Cabinet 

Continued from Page 1 


use the popular revolution Mr. Ho- 
sokawa was starting to fundamen- 
tally alter Japan's relationship with 
Washington. 

‘Tm very sad,” the former vice 
president said. “I liked Hosokawa, 
I consider him a friend, and I fed 
very sorry for him. ” 

“Here is a guy who offered a new 
Japan.” he added. “He appealed to 
the young, he had a Kennedy esque 
appeal, he talked about political 
reform, administrative reform, 
opening Japan to the world, finall y 
responding to the consumers. 
There was such hope. Here was the 
fresh political persona, coming 
from prefecture] politics, and end- 
ing up in charge of a system that 
needed so many changes.” 

Amid the chaotic juggling for po- 
sition under way in Tokyo, three 
scenarios for the creation of a new 
government have been sketched 
ouL None of them is extremely 
promising for the Clinton adminis- 
tration's goal of speeding up the 
process of reform and opening the 
Japanese market. 

The first scenario calls for the 
elevation of Mr. Hata as prime 
minister. After Mr. Hosokawa. he 
is deariy the most personally popu- 
lar member of the government, a 
former bus company executive who 
helped lead the revolt last summer 
that ousted the Liberal Democrats 
after endless scandals. 

But Mr. Hata likdy will not be 
acceptable to the Socialists, the big- 
gest party in the coalition. He is 
closely associated with Ichiro 
Ozawa, Japan's most powerful pol- 
itician and the other end of the 
ideological spectrum within the co- 
alition. 

Mr. Ozawa clearly has a plan in 
mind to eventually consolidate the 
coalition into a broad, conservative 
party, perhaps one willing to en- 
dorse his notion that Japan must 
become a “normal nation" that 
does not shy away from responsi- 
bilities like United Nations peace 
enforcement. In time, that plan 
r-afk for ousting many of the So- 
cialists. 


“It’s nniikdy Japan will be able 
to extend its virion much beyond 
Nagatacho and Kammigasriti, " 
said one Western government offi- 
cial, referring to Tokyo's govern- 
ment districts. “As for the U.S.- 
Japan framework talks, it’s pretty 
dear, there’s not going to be any- 
body home.” 

If Washington stands firm on its 
demands for objective indicators to 
measure Japanese market access as 
well as a commitment that Tokyo 
extend income lax cuts over several 
years, the result could be an escala- 
tion of trade tension that would be 
relieved by the appreciation of the 
yen against the dollar. That, in 
tom, could undermine hopes based 
on recent indicators that a modest 
recovery ending Japan's worst 
postwar recession could begin later 
this year. 

“If we don’t get anything done 
by the G-7 summit, there’s the risk 
the yen will get pushed up again,” 
said Peter Morgan, chid economist 
at Merrill Lynch Japan Inc. “If the 
currency starts going over 100, then 
there's the risk of a triple dip.” 

The high yen slows overall eco- 
nomic growth in Japan by eroding 
the competitiveness of Japanese ex- 
ports and lowering the yen value of 
corporate profits earned in dollars 
overseas. The yen’s sharp apprecia- 
tion a year ago, combined with po- 
litical instability and an unusually 
cool summer, undermined growth 
and put the economy into a “dou- 
ble dip.” 

In the short term, Mr. Ho- 
sokawa’s departure has positive el- 
ements for the economy. It is likdy 
to break the deadlock that has pre- 
vented passage of the budget for 
the fiscal year be ginning April 1. 
The budget includes income tax 
cats as wdl as public monies for 
investment in Tokyo equities. 


Resignation 
Won’t Hurt 
Relations 

Agatce Fmnee-Presse 

TOKYO — China said Fri- 
day it hoped relations with Ja- 
pan would continue to develop 
Steadily and soundly” despite 
the resignation of Prime Min- 
ister Morihiro Hosokawa. 

“Prime Minister Hosokawa 
has made precious efforts for 
promoting the development of 
friendly relations,” said a Chi- 
nese Foreign Ministry spokes- 
woman. 

“We hope that Sino- Japa- 
nese relations will continue 
steadily and soundly,” she 
said. 

From Seoul, President Kim 
Young Sam of South Korea 
told Mr. Hosokawa in a tele- 
phone call initiated by the Jap- 
anese leader that he “reaf- 
firmed his personal friendship 
and trust” 

In the United States, the 
White House said that Presi- 
dent Bill Clinton had ex- 
pressed his hope that the pro- 
cess of reform would continue 
in Japan. 



Passers-by in Tokyo’s GSnza shopping area on Friday watching Mr. Hosokawa on a television screen as 


Mr. Hata is considered to have 
done well as foreign minister. But 
he is an uninspiring speaker, and 
some question how much passion 
beholds for economic reform. He is 
still trying to live down an incident 
many years ago, when he suggested 
that Japanese could not allow 
American beef into their markets 
because Japanese intestines are dif- 
ferent from American intestines. 

“It is one tiring to be in favor of 

pol itical reforms in Japan,” said 
Hmnii ShimiKljt, an economics pro- 
fessor at Kdo University. “But eco- 
nomic reforms involve so man; 
more interests.” . 

Another, more drastic scenario 
involves a deal in which Michio 
Watanabe, a former foreign minis- 
ter and leader of one of the biggest 
factions in the liberal Democratic 

Party, would abandon that party TY - J 

and join the coalition. In return, be 11 ftfllTPSlPfi 
would become mime minister. Mr. 

Watanabe is believed to be suffer- 
ing from cancer, and presumably 
sees this arrangement as his best 

°Bui Mr. Watanabe would have 
to bring 40 m so of the members of 
his political faction with him to the 
coaution. Even that might not com- 


5 Prime Ministers in 5 Years: Politics of Scandal Take a Toll 


The Atsodated Press 

TOKYO — Five Japanese prune mini sters have resigned 
in die last five years, and money scandals — or failure to pass 
legislation to stop them — have often been to blame: 

• Noboru Takeshita (resigned April 25, 1989). Forced to 
it after admitting he received donations from the Recruit 
u the company at the center of perhaps Japan’s biggest 

postwar scandal. Recruit sold cut-rate stock to major politi- 
cians or their aides, who later resold the stock for large 
profits. 

• Sousuke Uno (resigned Juty 23, 1 989). Had bandy taken 
office when it was reported that he paid a geisha to be his 
mistress and mistreated her when they broke up. When the 




then-ruling Liberal Democratic Party did poorly in July 
elections for the Diet’s upper bouse — largely due to the 
introduction of an unpopular national sales tax — Mr. Uno 
quiL 

• Toshiki Kaifu (resigned Oct 5, 1991). A little-known 
politician with a dean reputation, Mr. Kaifu promised to 
pass anti-corruption legislation. But when bills were intro- 
duced, party powerbrokers withdrew support and he was 
forced to quiL 

• Kiichi Mryazawa (resigned July 22, 1993). One of the 
recipients of Recruit’s favors, he too promised to pass anti- 
corruption legislation. Under pressure from party power- 


brokers. however, he lost his resolve in June 1993. Pro- 
reform legislators quit the party, the party lost its majority in 
a general election, and Mr. Mtyazawa quit to take responsi- 
bility. 

• Morihiro Hosokawa (resigned April 8, 1994). With the 
liberal Democratic Party out of power for the first time 
since 1955, Mr. Hosokawa finally passed the anti-corruption 
legislation that had condemned Mr. Kaifu and Mr. 
Miyazawa. But doubts arose over a 100 milli on yen 
($970,000) loan be received from a scandal-tainted trucking 
magnate because Mr. Hosokawa could not prove he paid the 
money back. He was also accused of lying about a profitable 
stock deal supposedly made by his father-in-law. 


2 Dissidents Kremlin Aide Says Russia Would Help Pyongyang 


In China 


CHANGE: Clinton Loses Partner 


Continued from Page 1 
downfall of Mr. Hosokawa de- 
prives the United States of the 
rnain agent of change it was count- 
ing on to open Japanese markets, 
without the Clinton administration 
having to resort to punitive sanc- 
tions that could destabilize the po- 
litical relationship between the two 
countries. . . . 

The one good thing that admin- 
istration officials know they have 
1 gang for them with Japan is that 
currency speculators have kept the 
value of the yen very high against 

Nigeria Detains Editor 
After Critical Interview 

Reuters 

LAGOS —The security services 
have detained the editor of a Lagos 
magazine that reported an aheg*- 
don that the military ruler. General 
Sum Abacha, planned to stay m 
power until 2000. ... , 

Dan Agbese, editor in chid ot 
Newswatch, was taken away 
Thursday night by five security 
men, the jubEcation raid. The gov- 
ernment objected to the aUegatoM 
made in an interview with a reureo 
brigadier general, David Mark. 


Quakes Rattle East Romania 

Reuters 

BUCHAREST — Two medium- 
strength earthquakes rattled east- 
ern Ro mani a's Vrancea mountain 
region Friday, but no damage or 
casualties were reported. 


By Lena H. Sun 

Wash in g ton Port Service 

BEIJING — The police detained 

ESStaa: sqrassst 

“The numbers are very doraT^ 

^sasssx^vs. "TsssMsft xu 

ttsszssgs* ■“ 

credit card bills. report . 

A third scenario involves stale- i rht 

mate. If neither the Liberal Demo- 

crats nor the coalition could put Fdday * Shanghai, 

But it would be so weak that few authorities rearrest- 

count’s best-known disti- 
Tiff woul d be tbew p^caraftr ^ Wd The men are 

the U.S. government, because it 
would leave the bureaucracy even 
more free to run the country in the 

absence of pofitica. leadership. f&SST 

— Mr. Wei served nearly 15 years in 

prison before his release last Sep- 
tember. Mr. Xu. considered one of 
China’s more moderate dissidents, 
was released last May after 12 years 
in sdiiuary confinement 
When Western journalists tried 
to find out from Mr. Xu’s wife, 
Kang Tong, why he had been de- 
tained, one of the many policemen 


Reuters 

NEW DELHI — A senior Rus- 
sian official said Friday that Mos- 
cow would be bound by treaty to 
hdp North Korea if it were at- 
tacked without provocation. 

“We have informed North Kore- 
ans as wefl as South Koreans and 
the United States, that Russia, as 
country which is a legitimate suc- 
cessor of the Soviet Union, is carry- 
ing obligations from treaties which 
are still in force.” said Deputy For- 
eign Minister Alexander Panov, a 
former ambassador to SeouL 

“It is natural that if we say to- 
morrow that we wiD not follow our 


obligations taken from the Soviet 
Union, there wifi be mess,” Mr. 
Panov said. “Russia will always 
help North Korea if North Korea is 
improvokedly attacked. This we 
say by ourselves. This is our own 
decision, it will be taken according 
to our legislation, our constitu- 
tion.” 

The UN Security Council, in- 
cluding Russia and China, last 
week issued a mildly worded state- 
ment calling on North Korea to 
allow unhampered inspections by 
the International Atomic Energy 
Agency, or IAEA, to verity that 
North Korean nuclear installations 


were being used only for peaceful 
purposes. 

On Friday, Mr. Panov pushed 
the idea of an international confer- 
ence to resolve the issue. 

“We see bilateral efforts by the 
U.S, IAEA, by South Korea didn't 
bring us any results, except getting 
us into a vicious circle by creating 
heavy tensions in the Korean Pen- 
insula,” he said. “So, to find a way 
out of this, we have proposed an 
international conference by six 
countries and representatives of the' 
United Nations and the IAEA.” 

A U.S. defense official said 


Thursday that Pyongyang was pre- 
pared to move quickly in a suspect- 
ed program to buOd nod car weap- 
ons. 

“They are poised to leap for- 
ward,” said Assistant Defense Sec- 
retary Ashton Carter of Pyong- 
yang’s recent expansion of its 
capacity to make plutonium for nu- 
clear arms. He said North Korea 
was not yet producing such materi- 
al 

In a North Korean news dis- 
patch monitored in Tokyo, a rank- 
ing North Korean officer evoked 
the danger of war. 


“The tense situation in which a 
war may break out at any time has 
been created in our country owing 
to the vicious anli-Socialist, anti- 
DPRK campaigns of the imperial- 
ists and other international reac- 
tionary forces,” said Vice Marshal 
Choe Kwang. DPRK, or the Dem- 
ocratic People’s Republic of Korea, 
refers to North Korea. 

Marshal Choe made the remarks 
at a meeting in Ityongyang to mark 
the first anniversary of Kim Jong 
D’s appointment as national de- 
fense chief, according to the official 
iress agency, KCNA, monitored in 
'okyo. 




the dollar. Thai makes all of Ja- 
pan's exports more expensive, 
which squeezes Japan’s export-ori- 
ented business community. 

American officials hope they, in ^ 

turn, will squeeze the next Japanese nea ^ dragged her away "with his 
government to agree to a marita- damped over her mouth, ac- 
— arrangement with the cordillg l0 j^d Scfaleanger, a 


HEATH NOTICE 


FRANCES RUTH KELLER LEVINSON 

Bora 22 Feb. 1912. Moab, IT 
Died 5 Apr. 199*. F* Br3 SS- 04 

(liiklren’N h**ik juih" 1 ’- 
w iik *w 1 4 I a - * *njni Lc* in« jn. 
hokiu-iJ .-aster id Klntv bdlcr. 
ntmluritf On 4 Li'Virw »n 
and Krihin S. >kai anil 
.urjfuiitii 'flier id 'wiphci Nikji. 


opening ai 
United States that would ease the 
upward pressure on the yen. 

Rock Musician 
Commits Suicide 

The Associated Pros . 

SEATTLE — Kurt Cobain, 28, a 
singer-songwriter whose band Nir- 
vana pioneered the style of rock 
music known as “grunge,” was 
found dead Friday in his home of 
an apparently sdf-infikted gun- 
shot wound. 

Mr. Cobain’s body was discov- 
ered by an eketririan who went to 
the home Friday to do some work, 
the police said. A suicide note was 
found, they said. Family members 
said Mr. dobain had been missing 
for six days. 

Nirvana was known for the 
multinriliion-selling 1991 album 
“Nevermind.” Mr. Cobain had ac- 
knowledged past drug use and had 
been hospitalized last mouth m 
Rome after falling into a coma due 
to drug and alcohol use. 

U.K. Major Wins Case 

Over Pregnancy Firing 

Agence Fnutce-Presse 

GLASGOW — A major in the 
British Army who was forced to , 


Reuters reporter who was present. 
The journalists were accused of 
breaking the law and questioned 
far about 45 minntes before they 
were allowed to leave. 

The detentions were expected to 
(vt n rmne as fJrma approaches the 
most sensitive period in its political 
calendar, the June 4 anniversary of 
th e T iananmen Square crackdown. 

At a press conference, the 
Fr ench prime minister, who had 
ramc to improve relations with 
Beijing was asked four times to 
comment on the detention of the 
two dissi dents. He declined. 

“I do not wish to add anything 
on the subject, having said m pri- 
vate what I wished to say,” he said. 

A Foreign Ministry spokesman, 
Wu Jianmin, said later that Mr. 
Bahadur's meetings with President 
Jiang Zemin and Prime Minister Li 
Peng included no discussion of ei- 
ther Mir. Xu or Mr. WeL 

Mr. Wu also criticized the Unit- 
ed Stales as the only country that 
continues to link China’s trade 
privileges with human rights. 

- Mr. Bahadur said France’s goal 
was to raise its profile in Asia, and 
that increased trade with China 
was a central dement. France is 
trying to improve ties after nearly 
18 mouths of chilly relations be- 
cause of its sales of Mirage fighters 
to Taiwan. 

In an indication of improving 
lies, Mr. Li told Mr. Bahadur that 



run 000 (5450,000) here Friday. 

An industrial tribunal ruled Hd- tries in the next seven years to meet 
Homewood, 44, bad been un- the demands of the world s fastest 
aeainst when crowing economy, and that 



SSSssaS is s=Su:?k: 

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was 


Washington Csf World Business 


THE OUTLOOK FOR GLOBAL PARTNERSHIP 
WASHINGTON, D.C. APRIL 21-22, 1994 


April 20 


April 22 


Ronald H. Brown U.S. Secretary of Commerce, will be 
our guest speaker at the opening dinner to be held at the 
Corcoran Gallery of Art. 


April 21 


A FOREIGN POLICY FRAMEWORK FOR THE POST COLD WAR ERA 

■ Warren M. Christopher U.S. Secretary of Stare 
A REPUBLICAN RESPONSE 

■ Senator Malcolm Wallop R.. Wyoming 
BEYOND THE URUGUAY ROUND 

a Ambassador Rufus Yerxa Deputy U.S. Trade 
Representative 

AMERICA'S GLOBAL TRADE OBJECTIVES: STRUGGLING 
TOWARDS EQUITY 

a Senator Max Baucus D.. Montane 
THE CLINTON ADMINISTRATION: SUCCESSES & SETBACKS 
a Senator Nancy Landon Kassebaum R.. Kansas 
THE CHANGING U.S. FINANCIAL SERVICES SECTOR 
a Robert D. Hormats Vice Chairman. Goldman Sachs 
International 

THE INTERNATIONAL TELECOMMUNICATIONS RACE 
& THE AMERICAN INFORMATION SUPERHIGHWAY 
a Larry Irving Assistant Secretary for Communications 
& Information, U.S. Department of Commerce 
a Gerald H. Taylor Executive Wee President. MCI 
Communications Services 

EXPANDING BUSINESS OPPORTUNITIES IN THE MIDDLE EAST 
a Airmon Neubach Economic Minister. Embassy ot Israel. 
U.S.A. 

a Sari Nusselbeh Fellow. Woodrow Wilson Center. 
Washington, D.C. 

a Toni Verstandig Deputy Assistant Secretary. U.S. 
Department of State 

m Moshe Werthelm President. IsraeFAmencan Chamber of 
Commerce & Industry 

THE CHANGING BUSINESS ENVIRONMENT IN CENTRAL 
& EASTERN EUROPE 

a John Battay European Counsel Shearman & Sterling. 
Budapest 

a Marcelo SeJowsky Chief Economist for Europe & Central 
Asia. The World Bank 

m Frank Vargo Deputy Assistant Secretary. U.S. 

Department of Commerce 

HEALTH CARE REFORM: THE IMPLICATIONS FOR BUSINESS 
a Gregory Lawler Head of the Health Care Campaign. 

The White House 

a Dana Priest Principal National Desk Reporter on 
Health Care Reform. The Washington Post 
a Tom A. Scully Partner. Patton. Boggs & Blow. 

Washington. D.C. 

a Donald Shriber Counsel. U.S. House of Representatives 
Committee on Energy and Commerce 

ECACC 

Hcralb^^felitribune 


THE ADMINISTRATION'S DOMESTIC ECONOMIC PROGRAM: 

IS IT ON TRACK? 

a Robert E, Rubin Assistant to the President for Economic 
Policy 

AN OUTSIDER'S VIEW 

a Hobart Rowen Columnist. The Washington Post 
THE INTERNATIONAL FINANCIAL INSTITUTIONS: ARE THEY 
DOING THEIR JOB? 

a H. On no Ruding Vice Chairman. Citicorp/Citibank 
U.S. ECONOMIC RELATIONS WITH EUROPE 
a Lawrence H. Summers u.S. Under Secretary of the 
Treasury for international Affairs 

THE HEART OF THE MATTER: COMPETITIVENESS IN AMERICA. 
EUROPE & ASIA 

a Peter J. Neff President & Chief Executive Officer. 
RhdneRoulenc Inc. 

THE PRESIDENT'S ECONOMIC AGENDA 
a Roger C. Altman Deputy Secretary. Department of the 
Treasury 

Conference Location 

The Willard InterContinental Hotel, 

1401 Pennsylvania Avenue N.W., Washington, DX. 20004. 
Tel: (1) 202 628 9100 Fax: (1) 202 637 7326 
To reserve accommodation at a preferential rate, contact the 
reservations department at The Willard as soon as possible. 
Please notify the hotel that your reservation is in connection with 
the ECACC/IHT conference. 

Registration Information 

The fee for the conference is USS 1.250. This includes the 
opening dinner on Wednesday. April 20. both lunches, the cocktail 
reception and all documentation. Fees are payable in advance 
and will be refunded less a USS 125 cancellation charge for any 
cancellation received in wriung on or before April 14. after which 
time we regret there can be no refund. 

Registration Form 


To register fur the conference, please .complete rite form 
below and send it to: 

Sarah Whitefietd. International Herald Tribune. 63 Long Acre. 
London WC2E 9JH Tel: t« 71)8364802 Fas (44 71)8360717 
Enclosed is .t check for L'SS f tf.TO. made pm.ihlr to llie 
I merii.il ioiml I lercild Tribune. 9 -ajM 

□ Pin mt hrroirr. 

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Lils| tuilU" - 

Position 

C tutijmm . 

Adillcss 


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I Telephone 


.(in turn 
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NEW YORK FASHION 


p 

v- 


INTERNATIONAL HERALD TRIBUN E, SATURDAY-SUNPAY, APRIL 9-10, 1994 

ART 

20th-Century Dutch Art: 
From Trees to Mondrian 





On the runways in New York: left, Indian basket hat and tailored shirt by Byron 
Lars; scoop-front plaid dress for Donna Karan* s DKNY collection. 

A Rainbow Coalition 

Futuristic Clothes for Urban Trihes 


By Suzy Menkes 

International Herald Tribune 

N EW YORK — Models dancing to the beat 
of Afro-American drams, Cherokee Indi- 
an face-paint and futuristic clothes for 
urban tribes — who would have thought 
that New York fashion would go native? 

The fall-winter shows — held for the second season 
under canvas — express the increasing exuberance of 
American designers. The Council of Fashion Design- 
ers of America is mounting 59 presentations, 17 more 
than for spring, including an avant-garde film about 
accessory designers. 

Significantly, the idea of American designers show- 
ing in Europe has turned into a two-way street The 
German company Escada is showing in the Bryant 
Park tents behind the New York Public Library next 
Tuesday, Joining the London-based companies of 
Ghost ana 1-faa Bruce. Prada of Italy is staging a show 
Saturday and Gianni Versace is supposedly discussing 
a New York presentation next season. 

American designers are not just thinkin g globally — 
they are also going back to their roots. The multiethnic 
spirit of New York is reflected in a rainbow coalition 
of designers and the wackiest opening shows — by 
Byron Lars and Todd Oldham — made spirited fun of 
ethnic diversity. 

Imagine a fearsome African mask molded in bark- 
brown leather made into a street-smart back-pack; a 
Take-fur cape complete with (fake) daws and teeth; 
furry boots teetering on high heels; a hat made from a 
tribal basket, and two black models joined like Sia- 
mese twins by their dreadlock braids. 

If Lars were not an African American, his takes on 
“The Jungle Book” would be labeled politically incor- 
rect. But the designer made an upbeat show by giving a 
witty touch of the ethnic to wefl-cot clothes. They 
included curvy coat dresses, fuzzy knits, brief velvet 
shorts and simple pantsuits that came in African 
colors from brown through saffron yellow and henna 
red. The finale of crinolines that were hiked up to 
reveal grass skirt pantaloons brought the house down. 

Fake fur is a big story and Oldham made his models 
into snow bunnies from fashion's polar region. His 
Eskimo effects included a skirt shaped like a pom-pom 
(with matching ski hat), skating skirts (another hot 
story) and a finale of white fake fur over a glacier-blue 
velvet dress dripping icicle sequins. 

Ol dham also showed the polar extremes of skirt 
lengths: either the ultra short that is offering indecent 
exposure in New York's shows; or very long skinny 
dresses. They look hard to wear, except as dresses in 
plaid or fair isle knit or as citrus-colored velvet dresses 
at night Oldham's shows run to a formula — wacky, a 
touch tacky, with a token drag queen, lots of splashy 
color and enough commercial clothes to keep the 
buyers happy. His sense of humor sees him through. 

Irony is not a fashion commodity much traded on 
Seventh Avenue. And (hat is why Donna Karan's 
DKNY show — apart from bright neoprene dresses 
for mfflennium dressing — did not quite come off. 
First Karan went mad for plaid — brief skating-skirt 


dresses (they also came long) that were fitted like a 
corset in the waist and did uplift x things to the bosom. 
Then it was (he coy schoolgirl look, all neckties, ankle 
socks and bar shoes. (Naughty schoolgirls got to bike 
their skirts over matching pannes). Now fargrown-ups, 
it’s a new-Iength skirt stopping at the knee. Then a long- 
short combo — a sweeping military greatcoat over a 
brief skirt with a peeking net petticoat 

Something for everyone, you might say. Or, indeed, 
something from everywhere, for all these looks have 
been seen on other runways even if Karan gives them a 
spin of her own. Only the neoprene dresses with their 
bouncy shapes, rubbery surface and brilliant colors 
looked to (he cyberspace future and captured the 
skyscraper modernity of New York. 

Anne Klein is one of those fashion houses that 
American buyers rely on to come up with the goods. It 
looked as though Richard Tyler, in his second season 
as designer, had been told to think of the bottom line 
— but not the one in which the hemlines slam the 
buttocks. His show was quite nice, quite safe and 
resounded with sighs of relief from store bosses who 
had thought Grom round one that Tyler might have 
been into risk-taking. 

Instead, he sent out young curvy tailoring with 
shapely fitted jackets in sober colors like loden green 
and camel or quiet tweeds. Enlivening the classic 
jackets were bottom halves of shorts, pleated skirts 
and asymmetric hemlines. Tactile textures included a 
revival of die 1 960s’ Ultrasuede, fuzzy alpaca, velvets 
and funky furry boots that lode like being the hottest 
cold weather item for next winter. 

I T was only a sliver of fksh that Christian Frauds 
Roth revealed between thigh-high woolly stock- 
ings and the briefest of skirts — but it made fora 
saucy show. For the curve of the derriere was the 
focus of attention. Roth could claim to have done 
schoolgirl looks while other designers were into more 
mature styles. There is still something playful and 
innocent abom his appoaefa to dressing, wilh the mod- 
els stepping out in short swingy coats and schodgiri 
pleated darts in a cheery mix of different plaids. 

But what were the cheeky hemlines and visible 
underpants all about? Nobody believes that the 
schoolgirl slut is a look that will be walking the streets 
next winter. And if you imagined Roth’s hemlines 
lengthened by a mile, the show did not seem to have 
much point 

“I don't think I will be wearing anything that short 
— this is as far as I am prepared to go” said Ivana 
Trump, whose Versace skit with its punk-pin decorat- 
ed hemline stopped decorously at midthigh. 

The reality check win come with New York's big 
name designers like Calvin Klein and Ralph Lauren, 
who show next week. Meanwhile, scores of minor 
designers are offering some options: well-behaved 
outfits from Lauren Sara, who comes from Philadel- 
phia and made dresses and suits to suit; simple clothes 
mixing unlikely textures like flannel and satin char- 
meuse from Mark Eisen; and Tracy Frith's models in 
Cherokee makeup, mohair dresses and furry platform- 
soled boots, which proved that there is a fasti on 
message in a little bit of fluff. 


BOOKS 


THE ALIENIST 

By Caleb Carr. 492 pages . £22. 

Random House. 

Reviewed by 
John Katzenbach 

I F hunting down and identifying 
a serial killer today, with all the 
modem techniques of forensic sci- 
ence and detection that are avail- 
able, remains well-nigh impossible, 
imagine how difficult the search 


[NEW AUTHORS 

I PUBLISH YOUR WORK 

B ALL SUBJECTS CONSIDERED 
H Authors Worid-wida Invited 
H WHia or sendyour manuscript to 
| MINERVA PRESS 
iz OLD BR0MPT0N PD. LONDON SW7 30Q 


would have been a hundred years 
ago. This delicious premise is the 
foundation for Caleb Carr’s in- 
triguing novel, “The Alienist-” 

The book is set in 1896 New 
York Gty. A depraved killer is 
preying upon young male prosti- 
tutes who work out of some of the 
seamier bordellos in lower Manhat- 
tan. The killer is capable of stom- 
ach-turning depravity, but his ex- 
cesses have gone mostly unnoticed 
or ignored by both the police and 
the press. After all, his victims were 
an impoverished immigrant chil- 
dren, mutilated horribly. 

Enter upon the scene the new, 
refonn-minded police commission- 
er, young Theodore Roosevelt. 
Deeply troubled by the unsolved 
crimes but bucking the shifting tides 
of political intrigue, he establishes a 
clandestine investigative team. 


beaded up by bis old (and fictional) 
Harvard classmate; the physician 
Laszio Ki drier. Krrizler — it was 
some years before psychiatrists were 
no longer called “alienists” — is a 
pioneer in the nascent field of foren- 
sic psychology. It is his belief that by 

of thr? kDIe^^^^rdeduce 
his identity. Today the idea of pro- 
filing criminals and their behavior is 
accepted practice. A hundred years 
ago. it was unusoaL 
The tale of (he investigative 
team’s search for the killer is narrat- 
ed by another of Roosevelt's Har- 
vard friends. John Schuyler Moore, 
a slightly dissolute crime reporter 
for The New York limes at the 
crossroads of Ins fife. Moore joins 
with Kreizkr; a woman, Sara How- 
ard, who aspires to be more than a 


Jtcral 


INTKKjNATMINAl. 


bunc 


IVWMMIb >> MTv.id'tb'bUaMHM 


UVEVG IN THE U.S.? 

NOW PRINTED IN 
NEWARK 
FDR SAME DAY 

Delivery in Key Cities 

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es larze han dgims to underscore this 

ambition; a pair of Jewish detec- 
tives, and sewral other lesser char- 
acters, As the team dissects each 
dement of (he horrific crimes, does 
to the personality of the kiDer they 
seek become increasingly clear. 
Slowly, but effectively, they piece 
together a portrait of the man they 
hunt, all set against (he backdrop of 
tura-of-tb&century New York; 

Carr is a historian and an editor 
for Military History Quarterly. He 
uses his research capabilities almost 
to a fault Period details abound on 
every page the novd. People who 

actually existed — in addition to 
Roosevelt, J.P Morgan, Lincoln 
Steffens, Jacob RHs and others — 
interact with the fictional charac- 
ters. The landscape of New York, 
from immigrant slums to elegant 
mansions, permeates the novel 


By Michael Gibson 

ini emotional Herald Tribune 

P ARIS— It is rather fascinating to discover a 
patron saint of international modernity like 
Piet Mondrian being displayed in a national 
rather than an international context. This 
reveals the tangible reality of-his artistic development, 
rather than the abstract, vacuous idea that his an 
somehow developed in the manner of ? mathematical 
equation. 

The merit of a twofold exhibition devoted to Dutch 
art of the past hundred years at the Music d’Art 
Mod erne de la VDle de Farts is precisely to offer this 
unusual p erspective. 

The selection is inevitably partial and the overall 
effect would have been significantly different if the 
show had included such famous artists of Dutch origin 
as Kees van Dongen or Brain van Velde. But prefer- 
ence was rightly given to three dominant aspects of 
Dutch art: the unrelenting horizontal! ty of the sea and 
landscape, the striving verticality of the trees, and the 
untiring interest Dutch artists over the centuries have 
taken in the human face. 

The choice is judicious, and the unity is impressive. 
As a result, it can be thoroughly intriguing to consider 
all the assembled works by various artists as though 

ftii* were wa tching a »ngl* iwi«y thn. Mt i-ort limmff y 
changing shape and color before one's eyes. 

The drift of Mondrian’s work naturally suggests this, 
as his horizontal beaches and vertical trees succeed one 
another, appearing to go through convulsions quite as 
strange as those of an amoeba under a microscope, 
gradually mer gin g together in the tense, motionless 
vertical and horizontal black lines of all the later work. 

Some critics have been inclined to explain the drift 
of Mondrian’s work in terms of an austere Calvinist 
upbringing. But his move toward abstraction was 
perhaps even more motivated by his interest in the 
theosophic movement, which had numerous adepts 
among Dutch artists at that time. Mondrian sought 
such things as “higher knowledge” and an art that 
would be entirely spiritual and immaterial — ultimate- 
ly, a substitute fra religion. 

Mondrian is also shown in the context of the de Stgl 
group, with Theo van Doesbuig and Bait van dex Leek 
— which allows for some interesting comparisons 
(Mondrian emerges as the more demanding artist). 

The exhibition opens on a landscape by Jan Toorop, 
a seascape by Mondrian and a portrait by van Gogh 
(the only work by him in the show). 

Toorop was a peculiar and important figure of 
Dutch art of the day. Born in Java, his idiosyncratic 
Symbolist paintings are full of strange figures with 
long, thin arms — a reminiscence of the Javanese 


Wayang puppet theater. His landscape, however, is a 
pointillist and atmospheric twilight scene. 

The point of departure of most of these landscapes 
(and portraits) is the great Dutch tradition of scrupu- 
lous (sometimes boring) realism. So it is interesting to 
note bow the tradition (the ritual) continues, while the 
interpretation gradually changes. 

To Mondrian, for instance, the horizontal line was 
the feminine dement, while the vertical was mascu- 
line. This leads to a quas-mythic interpretation of his 
own work, by the artist, who in the act of artistic 
creation, sees himself as a bisexual being. 

Other landscapes (in the section devoted to die first 
half of the century) are by Johann Thom Prikker (also 
a Symbolist), Leo Gestd, the original colorist Jan 
Shnjters and Jakoba van Heemskerck. 

The careful realist portrait is also part of the grand 
Dutch tradition, and it is represented by such impos- 
ingly assertive figures as Charley Toorop (Jan's daugh- 
ter), and Pyke Koch, whose brute-faced, duck-necked, 
heavy-breasted operator of a fairground shooting gal- 


lery is quite unforgettable. 

Chaney Toorop, who helped Mondrian when he was 
in need (site referred to him as “that delica t e monk”), 
srtfTv: to be painting her face in a magnifying shaving 
mirror, defiantly stressing the asymmetrical bumps of 
her features in her unrelenting devotion to “truth. " 

M ORE delicate — bat equally truthful — 
self -portraits in a Dutch primitive vein 
were painted by such fine bat short- 
lived and Buie-known artists as Jan 
Mankes (who died at the age of 31 in 1920) and Dick 
Ket (who died at 38 m 1940). 

The angulari ty of all this work seems to rest broadly 
on a world view which might be described as Northern 
Protestant Realism. It is a pragmatic; no-nonsense view 
of things that one might apectfrotn a nation of prudent 
traders. Significantly, both the Symbolist figures in this 
show (Jan Toorop and Johan Thorn Prikker) were 
influenced by the Catholic culture of France and Bel- 
gium (Toorop ultimately converted to Catholicism). 

The commissioners of the two exitibitioas were rather 
surprised to find that the contemporary one presented 
strong analogies with that of the earlier period. They 
had expected to find that famous rift that is the found- 
ing myth of modernism. Of course, the idiom is differ- 
ent, by landscape and portrait are dominant stfiL 
Landscape is encountered in the work of Jan Dib- 
bets who takes photographic views in color of, for 
instance; a beach, and makes rather spectacular (yet 
meticulous) photo-montages of them. Portraits are 
found in the work of Ger van EBc. Philip Akkerman 
and Marlene Dumas. 

“La Beaute Exact e,” to July 17. and “Du concept a 
r I mage" ( the contemporary show), to June 12. 


M 






Itfor 


•“ L-> - ' 


Self-portrait of Charley Toorop, painted in 1932. 


Kabakov and His 'Albums’ of Disillusion 


By Ken Shiilman 

H ELSINKI — The sensation is 
not dissimilar — bat not identi- 
cal — to that of leafing through 
the pages of an illustrated chil- 
dren’s book. Nor is it entirely unlike pasting 
through one of the many corridors of paint- 
ins at as extensive monographic exhibition. 
Still, the atmosphere is unmistakable, one of 
truncated, shrouded dreams slowly being 
dissected in a merciless operating-room 
light. Here, among the sterile green-tile walls 
that tiie artist uses to frame his installations, 
the experience of Ilya Kabakov’s “Albums” 
is one of anxious, futile adventure, a journey 
that begins in disflhisjonmeni and ends in 
the dissolution of consciousness. 

Bom in Dnepropetrovsk in Ukraine in 
1933, Dya Kabakov is the nawt important — 
and most widely recognized — artist in the 
Soviet conceptual movement. With the inge- 
nious creation of his “album” installations, 
Kabakov invented a deceptively simple art 
form that reproduced important truths 


about life in the Soviet Union and posed 
fundamental, e*fat«it«>i questions about tbe 
precarious, muted condition of postmodern 

man. 

“One could say that the e ntire history of 
modem art can be found in Kabakov’s al- 
bums,” writes tbe critic Baris Grays in tbe 
catalogue of the Kabakov show on at the 
Museum of Contemporary Art at Helsinki. 
“Kabakov defines the relationship between 
the work of art and the commentary that 
surrounds iL And, ironically, he has marked 
a ret urn to the role of the artist as narrator." 

Kabakov, who left the Soviet Union in 1987 
and now divides his time among Baris, Mos- 
cow and New York, plays with the dialect 
between image and commentary. His albums 
combine iflnstration-quality drawings with a 
desultory, unfocused, undastaled narrative 
that is as funny as it is tragic. Produced on 
72-5-by-35-centimeter (28 ^-by- 14-inch) 
sheets of white or gray cardboard and anno- 
tated with narrative, dialogue and commen- 
tary, Kabakov’s albums tell the illustrated 
stories of 10 typical Moscow apartment dwell- 
ers. The albums were originally kept in boxes 


and shown to groups of 10 to 12 persons in 

reading* in the artist’s apa rtment 
‘The mam characteristic erf an album is 
the possibility of turning the pages," the 
artist said. "This creates anticipation, with 
an opening, a culmination, a finale and repe- 
titious. Most of all, it is a borne theater, but 
an old, open theater seen in hill light in a 
town square." 

T HE viator to the Helsinki show is 
led through a meandering row of 
framed pages where be is literally 
immeraed in the lives of Kabakov’s 
pallid, peripatetic characters. Die nine in- 
stallations an display all speak of a classic 
figure in Russian literature: the small man 
possessed by a big idea. The Girt album, 
“Shting-in-tbe-CkKrt-Pcimakov," tells the 
story of a boy who views the world from tbe 
depths of a dark closet in which he has 
locked temsdL In his sensory deprivation. 
Ins imagination gradually deteriorates until 
be is only able to envision printed words and 
not those things that the words are emblems 
of. In “Anna Petrovna Has a Dream,” the 


characters are reduced to numbered white 
circles on annotated di grams that plot their 
positions as they make a social call, take tea 
and visit tbe seashore. 

In hi g hli g htin g the disparity between the 
official Soviet iconography and the reality of 
life under the Communist regime, Kabakov 
creates an enchanted but strangely joyless 
imaginary world. Ultimately, fantasy cannot 
lift the omnipresent leaden gloom that 
shrouds life in his “albums." In a world in 
which tbe only freedom is tbe freed ran to 
dream, Kabakov’s characters have lost their 
capacity to invent. The drab everyday reality 
that shrouds them does not provide then’ 
subconscious enough fodder for a satisfac- 
tory, cathartic fantasy. His work proclaims 
tiie victory of (he mundane and inconclusive 
over the imagination. 

The Kabakov show leaves Helsinki on April 
70 and will reopen on Sept 21 at the National 
Museum of Contemporary Art in Oslo, where 
it will reman through January 1995. 

Ken Shulman is an American writer based 
in Italy. 


Los Angeles Museum 
Gets New Manager 

New York Tinea Service 

NEW YORK — After more than 
a year and a half of negotiations, 
the controversial ihree-y ear-old 
Annand Hammer Museum of Art 
and Cultural Center in the 
Westwood section of Los Angdes 


’TT^HTTFTT 


DO-IT-YOURSELF By Trip Payne 


ly financed by the University of 
California at Los Angeles. 

The museum’s $60 minion build- 
ing was paid for by Hammer, the 
chairman of Occidental Petrolhtm 
Crap, until his death in 1 990. Occi- 
dental provided tbe museum with a 
535 milli on endowment. 


Tbe problem with this is that it 
expands the novel's waistline as 
dramatically as one of the mods at 
Delmonico's that the author lov- 
ingly describes. The paring of tbe 
book suffers amidst tbe history les- 
sons. In the midst of a frantic hunt, 
one shouldn't stop the hounds to 
admire tbe architecture. 

But where the author’s research 
pays off most dramatically is is the 

sequences where tbe investigative 
team employs forensic techniques 
that today are commonplace but in 
1896 were novel such as finger- 
printing. What he does best is cap- 
ture the excitement of a world on 
the verge of change, where inven- 
tion was the stuff of daily miracle. 

Less effective is the author’s ex- 
position on the political difficulties 
surrounding the investigation. 
There are criminal and social forces 
in tbe city that can make use of a 
serial fewer murdering immigrant 
children. The investigative team 
has to deal with thee shadowy 
game-players, as they narrow their 
search for the killer. 

Consequently, what the author 
has created is a story being tugged 
in numerous directions all at once. 
Where his tale should be rat-a-tat, 
it occaaonally meanders. 

Still The Alienist" is an intelli- 
gent book (hat fascinates as often 
as it frustrates. For those who pre- 
fer their thriDers with a strong cere- 
bral muscle, “Tbe Alienist” would 
be a wise choice. 


John Kocenback’s fifth novel 
“ The Shadow Man," is scheduled for 
nbEcasion this year. He wrote this 
(or The Washington Post 


ACROSS 
1 Truman's 
birthplace 
6 Passover 

10 Cutesy 
farewells 

15 Get to the 
point? 

20 Garment cur 

21 Dieter’s spread 

2 2 “Yoor papers 
order’ 

23 Bartender’s 
stock 

25 1 9S2 Barry 
Levinson mm 

26 Bragg or Lee, 
e.g. 

27 David 
Copperfield’s 
mother 

28 Take the wrong 
way 

29 Sranofaqnip 
by stand-up 
comic Brian 
Kiley 

33 liv«l 

35 TV’s* 

Hudson Street’ 

36 Abner’s partner 

37 1969 Omar 
Sharif role 

38 Poet's 
contraction 

39 Pan 2 of the 
quip 

47 M.D.‘s 

48 Armada 
members 

49 Excludes 

50 Dumas’s “la 

Dame 

Camillas” 

51 Ear-related 

53 Farmland unit 

54 Fortune 
profilces 

55 Martina's rival, 
once 

57 “Hogan’s , 
Heroes” setting 


61 Boat on the 
Seine 

63 Part 3 of the 

67 ESLrwcnl 

68 Election Day 
victors 

69 See 111-Across 

71 Incapacitate 

72 ‘Addjms 
Family" 
nickname 

74 Go to pieces 

75 Critic rlunable 
and others 

76 One held in 
thrall 

77 Regular 
hangout 

79 First name in 
fashion 

80 Quip, part 4 

86 Driver’s seat 

87 Alphabetize, 

88 Plate watchers 

89 Son of 
Aphrodite 

90 Self expression? 

91 Golfer Norman 

92 Harness race 

93 Author 
Lust bad er 

94 Hay area 

97 Pied-biUed bird 

99 Part 5 of tbe 

103 $IewDe Brand 
TV western 

105 West End 
street, with 
“The" 

107 Baptism and 
confirmation 

108 ensc&ne 

110 “Like 

lump ir" 

111 With 

69 -Across, 

Requiem hymn 

113 Frequent 
FoweD co-star 


Solution to Puzde of April 2-3 


aoina ncira annn naanni 
anna raetaan nnna annunl 
nnaaaaaann aaoanartnanl 
□□□□□ nraan nnan anno! 
□□□DfianaanaanDoiinn 
□Dana nan anoao 
ana arrcia non nnnonn 
nnna □nnaoaannnnn nnn 
annanna nan nano nnc 
annaan anon nnnnon 
anaon nnannnmn artnan 
Banana nnna nnnnno 
nan aanra ana annnnon 
asrc aanasoassaaa noon 
nnnrann nnn anna on o 
aonnn nnn nnnnn 
nnnnnnannnnoaDnoHD 
naan aann onnn nnnnn 
nannaaannn naonnnannn 
□□ana nnna nnnnn nnno 
nnnnn oann nnn nnna 


114 Royal George 

w fasts? 

117 Xanthippe 

120 Pan6of the 
quip 

124 From the 
U.S.of A. 

126 Just like 

127 Add-on 

128 Stan of three 
John Wayne 
rides 

129 Draft-card 
issuer-. Abbr. 

130 End of the quip 

138 Overrun 

139 Parlance 

140 Performances 
for one 

141 Wise guy . 

144 Stan of a carol 

145 Colorful 
aquarium fish 

146 Author Sarah 
Jewett 

147 Qum resident 

148 Three-time 
Masters winner 

149 “I Left My 

Heart 

Francisco'* 

150 Ogs » 

151 One of the 
Barrymores 

DOWN 

1 Literary collie 

2 Benazir’s father 

3 Little attire? 

4 All over again 

5 Starts back at 
page one 

6 Tap alter nat i v e 

7 Boy gets/loses/ 
gets girl,, fcg. 

8 Prefix with 
gran or train 

9 Just some 

10 Poget Sound 
dry 

11 Woody’s boy 

12 Common office 
dficor 

13 They may be 
pvt on 

14 Grab 

15 Gullywasben 

16 On the safe side 

17 Galileo, for one 

18 Tied 

19 Handover 

24 Moves a muscle 

30 Catch 

31 Loafers 

32 Football Hall of 
Fame locale 

33 Mustard plant 

34 PrenderEist's 
school 


|s |7 I* Is In 12 u i« Its n lit is 


la *> 


I IM (85 


Tran WT 


1 |S2 


1 57 1 |H |» 1 80 


172 1 73 | ^*74 


n * 

R fr 


M ■« hoo Inn 


lin 1 l hu I 


>02 103 IM 

«• flMl ■ iio 


117 IIS 11#^*i« 171 

iST" ~ 


[Mil [lO[U3| 


© Netv York Times Edited by Will Shortz. 


40 Sport in which 
players wear 
metal jackets 

41 Gush 

42 Binhday-pany 
tradition 

43 Book about 
Nineveh’s fall 

44 1970 Brando 
movie 

45 Script word 

46 Leave in the 
lurch 

52 Jam ingredient? 

54 Gallery 
employee 

55 Hairdressers' 
creations 

56 Play 
matchmaker 

58 Poet Jones 

59 Texaco rival 

60 Mount 

62 Igor, to 

Frankenstein 

64 Sheik's peer? 

65 Runner Lewis 

66 Hair salon 
worker 


70 “Every man . . . 

can tame 

but he chat hath 
her":. Burton 

73 Gcrmfree 

75 Branch 

76 Wcathervane 
abbr. 

77 Seven, in 
compounds 

78 Martino and 
Molinaro 

79 Pennies: Abbr. 

80 Victors in I$4Q 
and 1848 

81 “Damn 
Yankees" hit 

82 Cartoon hunter 

83 Award lor 

Ngaio Marsh 

84 Some medical 
plans, fin* short 

85 Caesar's partner 

91 Guardian spirits 

92 “I thought 

never leave!" 

93 Author 
Wharton 


94 61^ -quart bottle 

95 Nonalcoholic 
brew brand 

96 Provinces 

98 Deleterious 

100 Storage site 

101 Plane an an 
aircraft carrier 

102 John Ciardi’s 

‘ a Man* 

104 “Little Caesar” 
role 

106 Like some milk 
powder 

109 More 
bespangled 

112 Bank deposit? 

114 Literature 
Nobdisi 
Heinrich 

115 "Robert's—— 
Order" 

'116 Kurtz of TV’s 
"Sisters" 

117 Gymnast - 
Comaneci 


118 Straightens out 

119 Media moral 

David 

121 Papeete’s land 

122 British farmer 

123 Hint from 
Heloise 

125 “Don’t Yon 
Know?" singer. 

1959 

131 Nora’s pooch ■ 

132 Paradise 
paradigm 

133 Algonquin- - 


;W.'. 

.to. • ‘? r i: 


t 


members 

134 Celebratory 
dance . 

135 Study 

136 Radius 
neighbor 

137 Catalogue 

142 Small number 

143 Less than 

! 42-Down 


i 



INTERNATIONAL HERALD TRIBUNE 


iUii 


% 



ART 

Saiurdav-Sunday, 

April 9-10, 1994 3r - 

Page 7 as 


In Milan, Traces of Vanished Goths 


i al 


By Roderick 
Conway Morris 

International Herald Tribune 


M ilan — spirited 
from the grave and 
placed before Notre 
Dame in Paris, a re- 
vived Goth would be utterly baffled 
to be informed that this building 
was a masterpiece of “Go One” ar- 
chitecture. For the term is entirely 
the result of a misapprehension 
propagated by the father of modem 
an historians, Giorgio Vasari — 
who erroneously believed that the 
Goths vac responsible for “that 
barbarous style, vast and ornate but 
showing little gram of sound archi- 
tectural principles' 1 that replaced the 
cod, perfectly proportioned struc- 
tures of the ancient weald, winch 
Vasari and his fellow Renaissance 
architects were in the process of re- 
viving and emulating. 

Vasari's error was understand- 
able: The Goths, who between the 
first and eighth centuries had it 
one time or another ruled most of 
Eastern Europe, Ukraine, Crimea, 
much of France and all d Italy and 
Spain, had, it seemed, vanished 
without trace. 

Rescuing this G ermani c race 
from oblivion is the aim of “I God." 


Bronze askos from the Ortiz collection, and wine jug with animal friezes. 


V estiges of Diverse Art 
Before the Roman Era 


International Hendd Tribune a . But bronze shields of precisely 

P ARIS— Art, or some of it, that shape and proportion have 
is all that remains when come to light in western Iran, 
whole nations have been It takes a strong culture to asami- 
wiped out and the memory late with ease and transform radical- 
or they- history lost for ever, except ty. The creative power of the work- 
tor a tew names. That is, roughly, shops strewn along Italy is 
the story told by the stunning pot- remarkable. A «man flat cup made 
toy and bronzes on view at the in Campania around 700 B.C. has a 
Foadation Mona Bismarck until flat well with low flaring ades to 
^ . , which is attached a handle four 

How diverse the cultures of pre- times its It tain 1 * a few seconds 
sem-day Italy were, before the Ro- 10 make out the calligr aphic pendi- 
man legions finally stamped out by tion of a mountain- goat head. This 
— — isamaslapieceiiot tobenrissedSo 

SOUREN MEIJKIAN is the : openwork squat bowl, iqrut- 

edly round m a tomb at Tarqunna. 

■inn n r- . . , With its angular openings, it has a 

.-<10 B. C. or so any vestige of inde- mctaffic ^raranced&ced by 

the black memof its day. Preserved 
nidtt of the peninsula, is hilly re- ^ ^ Muscum m at 

veiled m one of the year’s ; most sdiaffhausen, it ranks arn^Tthe 
extraordinary exhibitions, LArt revelations of the show. 


er. But bronze shields of precisely others in Europe. Huge handles of 
that shape and proportion have great complexity shoot up vertical- 
come to tight in western Iran. ly. On two pots, hands stick out 
It takes a strong culture to assum- between the handles. On yet ano th- 
is le with ease and tr ansf orm radical- from the “A C. collection. 


• ■ fist Mu'-. 



'^ZtSSSf b'.v. /'.a k* 

Bats 1| 










-■ • A h ; : : R¥4- 

• ■ V ‘ IWiy, i -zi i ■ ’V. ■ •• •• • v *. '< . .• ' 


-7 -.^* > 'V^V, +V T ' irj.', • £ .jl r f • ' , v. £ p: 

AA "’ ! ; hJ ! 'L!; 1 


er vase from the “A G collection," 
the two handles are shaped as enor- 
mous crescent moons with lag eyes 


S&FVSifc? 

wr 

& -&j 

.a 1 

. $ I 


remarkable. A «naTl flat cup made printed at the base of the crescent 
in Campania around 700 B. C. has a boras and protruding lips — Max 


Oat well with low flaring rides to 
which is attached a handle four 
times its size. It takes a few seconds 
to make out the calligraphic rendi- 
tion of a mountain-goal head. This 
is a masterpiece not to be missed. So 
is the o penwork squat bowl, reput- 
edly found in a tomb at Tarqunria. 
With its angular openings, it has a 
metallic appearance enhanced by 


des Peoples Italiques." The surprise 
effect is not just created by the fact 
that the majority of the 300 works or 
so, mostly drawn from private col- 
lections in Switzerland, had never 


Most surprising as a whole is the 
versatility In the handling of the 
human figure within a short time 
span. In Etruria, this appears to 


been seen before. It is the overall b«e te id atiane ihu rt a ibh 
picture of pre-Roman Italy that had possible to account for it without 
never been focused upon. For this, psummg the presence of very dif- 
Claude Lapaire, the director of the fenau human groups. A funerary 
Musee dArtet d'Histdre in Gene- ? j? 4 * ^ <^nmichas 

va, where the show originated, and a . M de ®f n ® d ? fia J luman 
Jacques Chamav. curaxorofGreek a runaway 

and Roman annuities deserve the robot deeded from aspace ship 
gratitude of all an lovers. m *“ *“*■ ^ “i* 

“ . ... . .nvnv liVp tlv tn n mart nf a mneh- 


Erast would have loved it. “Jr „ 

Anticipations of 20th-centwy 
art continue in the fourth century 
B. C., when Daunian potters paint- “?“???? i? 
ed figures, as l<x»se,^umsylad 
cartoon-like as anything Picasso , 

doodled in his later years. How 
such an an developed in quasi- 
isolation so close to the Greek cen- fjfS 1 
ters established further south on 
the Sicilian shores is one of many 
riddles to which there is no answer. ^ 

Whether it can ever be solved is 1 SS^rSi 
doubtful. The equally intriguing 
world of andent Sardinia has been ZSteZ 
known for decades. Il remains as 
dusive as ever. Whatever has been 2^*? 01111 113 

8a ° nt ^sSmmy d 

warriors with horned helmets, or “ 

those standing characters raising 
one hand as they hold out some 

diSBTW 

be laughrfont of court many sen- dltsxdmzn 
on S investigation. 

Some of the most beautiful ob- 
jects cannot even be ascribed to a i^riry s hops, 
given culture with absolute certain- f | ^ HE 
ty. The masterpiece in the show is I [be 

perhaps the bronze askos from the I of t 


(The Goths), a complex and fasci- 
nating show at the Palazzo Reale, 
next door to Milan’s Duomo, that 

Mosaic of TheodoricSPaU 

“Gothic” structure of all. The 

scope of the exhibition, which runs split into two groups; the Visigoths, 



■&±irn, i 


r' - 




Mosaic of Theodoric’s Palace in Ravenna ; the Ostrogoth king's reign was the most remarkable in Gothic history. 


until May 8, is impressive, with who in the fifth century were to take 
objects not only from aS the key over much of France, and then, be- 
coDections in Italy, but firm every tween the sixth and eighth centuries, 
part of the Gothic world from Rus- Spain: and the Ostrogoths, who 


readied the acme of their splendor 


There is a vast array of the cloi- in fifth- and sixth-century Italy. 
sonn6 jewelry and ornament (of ^ ^ fiftf, century, the Ro- 

and PJ?** 101 man Empire in Italy, overwhelmed 
gold) that for centimes the Goths u,, 

remained unwaveringly devoted to and the Westernrapital was 

^ K to Ravenna on the Adriatic 
coast, which, surrounded by lagoons 
eastOTCranea, to treasurettoves ^ marshes, was pretty well im- 
unearthed m Italy and caches of pn^ieandhad asciurernari- 

rinehfefine to Constantinople, the 
style that have come to hght m Ncw Rome in the East 
Spam. 

Skfflfully displayed in brightly In 476 even Ravenna surrendered 
lighted cases set in subtly darkened *0 ^ barbarian general Odoacer, 
rooms, these barbarians' baubles emperor in the West abdi- 

— judging by the gasps of delight “d Odoacer, granted the title 

elicited from many elegantly of patrician, ruled as king of Italy 
dressed Milanese —may well pro- with the acquiescence of (he Byzan- 
vokc a Gothic revival in the city’s “ne Emperor Zeno in Constantino- 


Ostrogoths was a spectacular event declared in one of his decrees, “are 
— a hundred thousand or more of an object of our special care. . . . 
them, men, women and children. Now we shall have baths again that 
trekking from their homeland on cleanse not stain . . . d rinkin g 
the southern hanks of the Danube water, too, such as the mere sight of 
(now Bulgaria) in a vast wagon which will not lake away all appe- 
train to northern Italy. “It was," a tile for food.* 


contemporary wrote, “a world that 
migrated.” Theodoric defeated 
Odoacer in battle and having per- 


Gothic was the first “barbarian" 
longue into which the Gospels were 
translated, and the Goths’ devout- 


ouu i^uiufui ouuuuium ummtv ujv - ■ - - »fL L J V uvwi IdWUU 1 i« muiavawiuu#vwiaiu- 

gratitude of aD art lovers. ty. The masterpiece in the show is 

An atmosphere of quaintness and perhaps the bronze askos from the 

mystery is created right at the begin- (who else?) collection, with 

nihg bV a case filS with house- body of a bird, the head of a 

shaped funerary urns. The most im- a bull and a trumpet-shaped opening 

SSSvc of all. probably from Vidri “$£?! i^ead of a UdL Nodrng like it is 

in Etruria (now Tuscany), is made of m P! d ed m toy rAef or a the jar otherwiKkBown . 
blackish brown earthenwsre cow- hmdS Byms 10 In the end, all we can do is loot 

with hmnw sheet worked in J 0 ™ over ^ Here, we should not miss a rare 

opportunity. 


blackish brown earthenware cov- 
ered with bronze sheet worked in 
repoussfe. The circular walls, taper- 
ing slightly, support a conical roof 
made of wooden rafters of varying 
sizes arranged in parallel rows. They 


u 


RNS of this type, the 
catalogue notes, are 
typical of Griusi around 
«X) B. G That makes it 


era Europe and the Balkans as far as 
Crimea in a series of mass migra- 
tions they abandoned old territo- 
ries and sealed in new. During the 
second century they appear to have 


suaded his rival to deliver Ravenna ness was praised by many Roman 
10 hi™ after a two-and-a-half-year authors, despite their adherence to 
on ^ P romise 01 t*™ 1 * ^ ^ ^ God and 

nrpttv power with him, Theodoric killed Jesus were distinct beings and that 

jJ Sl mud- SSor - cutdug him ncady in Christ, though divine, wasnol the 

half with his sword and remarking equal of the Father. Yet under 
afterward: T think the wretch had S)thic rale, Arians and Catholics 
ew Rook m the hast. Q0 m his body.” worshiped freely in their own 

In 476 even Ravenna surrendered churches in Ravenna and through- 

the barbarian general Odoacer, HIS not altogether prom- out Italy. This unusual tolerance is 

e last emperor in the West abdi- I ising- start ushered in a borne witness to by the stupendous 

ted. and Odoacer, granted the title I reign that was to be the mosaics of Theodoric’s palace cha- 

patrician, ruled as king of Italy M. m0 st remarkable in pel in Ravenna — now Sanl’Apol- 

tii the acquiescence of the Byzan- Gothic history. Never honored linare Nuovo — which depict his 

te Emperor Zeno in Constantino- even with Roman citizenship. The- splendid residence, the curtains be- 

b. With the dual aim of putting as odoric nonetheless proved himself neath the porticos knotted to admit 

och distance as possible between a barbarian more Roman than the the cooling breezes of the Adriatic, 

sse dangerous neighbors and the Romans. His grandiose public and in the background Ravenna's 

pjtal, and getting rid of Odoacer, works projects raised not only Ra- Arian cathedral (on the left) and 

10 in Zeno's view was becoming venna but also cities such as Milan, the Catholic one (on the right) — 

5 big -for his boots, the emperor Verona and Pavia to levels of civili- politically and socially linked by 

couraged the Ostrogoth king The- ty and prosperity that had not been the solid presence of the Palatium. 

loric to invade Italy. seen since the "great days of the The Italian Goths* Arianism in 

The march of Theodoric and the empire. “Aqueducts," Theodoric time led to their margi n aliz a tion. 


T 


tops. pie. With the dual aim of putting as 

• much distance as possible between 

r ■ 1 Goths originated on [hese dangerous neighbors and the 
R the Scandinavian shores capital, and getting rid of Odoacer, 
I . ,. gradually who ^ Zeno's view was becoming 

, JL spreading m Ihefirst c®; 'too' big -for his boots, the emperor 
tmy mto what is now southon ro- encouraged the Ostrogoth kingThc- 
land and descending through East- odoric to invade Italy. 


Orthodox Catholic Christianity 
was in the ascendant and in the 
early sixth century Emperor Anas- 
tasius recognized the Catholic 
Frankish warlord Govis, who over- 
threw the Visi gothic kingdom in 
France. Later the Visigoths in 
Spain, who had achieved a greater 
autonomy from the empire than 
Theodoric — though they never 
equaled his civic and artistic im- 
pact — formally renounced Arian- 
ism, hastening their loss of identity 
before being overwhelmed by the 
Moorish invasion. 

Ironically, while Vasari was pen- 
ning his ill-informed definition of 
Gothic architecture, in the mid- 
16tb century, the Flemish diplomat 
Busbecq. a man of exceptional in- 
telligence and curiosity, was in Is- 
tanbul as the Habsburg's ambassa- 
dor to the Ottoman sultan 
Suleyman. One night Busbecq re- 
ceived a visit from a Goth from a 
community in the Crimea still in 
existence hundreds of years after 
the Goths had died out in Europe, 
accompanied by a Greek familiar 
with their customs and language 
(from whom Busbecq was able to 
collect a valuable list of words). 
This was the last recorded sighting 
of a Irving Goth. 


ART EXHIBITIONS 


LONDON 


cross at a right angle, their extrem- .^£7 ouu ».v, ijuuuuo u 
ides terminated u^stylized duck- virtot^contonporaxy with tiie 
beads. A single opening has a bronze 
sheet door with knops in low relief. 

SSSSS SH ^ , -n 

monument from an unknenra world. ™&half o^as rftouneraay 


auction s ale s\ Alexander Creswell 1 


1UUUUUIUI1 UVU4 UU m • - 1^ Mn% 

Other urns are shaped like vases of pam m a last gasp, 
with lids in the form of a helmet— A trend toward exaggerated ex- 


the warrior’s defense over his re- pressiveness in a Baroque vein f re- 
mains reduced to ashes. The h el- quently comes out in otherwise 
mets have a sinuous (or cusped) very differenl art fonns. It bordas 
profile ih.ii, forgetting the addi- on the surreal in a wine jug in 
nonal crest, is identical to the east- by Greek Corinthian vases 
era tvpe found in Assyria, North- seventh century B. C. wi 
era Iran and Urartu, in Eastern friezes of animals walking in 


seventh century B. C. with its 
friezes of animals walking in a line. 


Anatolia. This is one of several The figures look like shadows do- 
striking coincidences pointing to ing a ballet step and the beak of the 


direct contacts with the East well 
before the "Orientalizing phase” in 
seventh-century B. C. Etruna. 


trefoil opening, painted with eyes 
on either side that seem to glare 
truculently, is lopped by a reclining 


Horse bits, cast in bronze in the horse with long eyelashes. The 
shape of almost flat horse figures spoofy touch is irresistible. 


shape ot almost nai uuia* 
with circular openings in the mid- 
dle allowing the cross-bars to go 
through, match in construction 
hundreds of examples known from 
the Iranian province of Lunstan. 

P ARALLELS extend to 
specific patterns. The sun 
shield, a royal symbol m 
the Middle East, occurs 
in the Italic cultures. The light 
Etruscan circular shield in the Mar- 
cel Ebnother collection has a sun- 
burst, as do some Assyrian and 
Iranian shields. It dates from the 
eighth century B. G Later m the 
show, a warrior figure from Sardin- 
ia holds up another circular shield 
with a big projecting dome-like 
umbo, or boss. It is so unusual for 
Europe that the cataloguer specu- 
lates that il could be made of wiclc- 


Baroque expre s siveness goes up 
several octaves in the elongated 
bronze warriors from Umbria cre- 
ated in the fifth century B. C, while 
Greece indulged in the blandest 
Classicism. The masterpiece in bal- 
ance and power is an object in the 
Ortiz collection, but the prise for 
extravagance goes to the swinging 
warrior from the Schaffhausen mu- 
seum with a crested helmet so big 
tha t h is hard to believe he ever 
went to war wearing it. 

A paroxism of fantasy is re ad ied 
with one of the strangest cultures of 
Italy, which blossomed on the 
Adriatic sea around Canosa Her- 
donia and Ascoii. Between 550 and 
475 B. G, the Daunians, as they are 
called by Roman historians, turned 
pots with shapes unrelated to any 


BEAUSSANT LEFEVRE 

*■' aLE DE “ v,c™“ p ;^ SuoTmcMSSJ 2 ' ^ * U ’ 

Friday April 29*, 1994 at 2 p.m. Room 4 


Telephone during the eshiWtion 
and me sale : (33. 1 1 4S.OO.20.O* 


Catalogue on requesr 
at the auctioneer s office : FF 80. 

On view : 

Thursday April 28 * , 

1 1 sum. - 6 p.nL 
Friday April 29' h > 

11 a.m. - 12 a. id. j 

Pierre-Augi!*^^ 

“Ponnitifc .lean RENOIR • j 

Oil on unra* * “Pi * 3 j 

4!.5i35n3. j 

bovcrunci;J«wn-’B5l : Wn I 

cdkciwn- puiraodar tf'Jcsn ^ •^ 0IR ’ , 

Lnu-.ccKnnt'*. ; 


IN FRANCE 


DROUOT RICHELIEU 

9, Rub Drouot, 75009 Paris - TeL: (1) 48 00 20 20. 


Monday, April 18, 1994 

Room 5 at 2 p.m. - FURNITURE AND OBJ El S D'ART. ADER 
TAJAN, 12, rue Favait, 75002 PARIS. Tel: (1) 42 61 80 07 - Fax: 
<T > 42 61 39 5 T - In NEW 7 YORK please contact Kerry 
Maisonrouge & Co Inc. 16 East 6?th Street, fifth floor, N.Y. 
10021. Phone (212) 737 35 97/737 38 13 - Fax: (212) 86l 14 34. 

■ Thursday, April 21, 1994 

Room 10 at 2.15 p.m. - FURNITURE AND OBJETS D’ART. 
ADER TAJAN, 12, rue Favait, 75002 PARIS. Tel: (1) 42 61 80 07 

- Fox: (1) 42 61 39 57. In NEW YORK please contact Kerry 
Maisonrouge & Co Inc. 16 East 65th Street, fifth floor, N.Y. 
10021. Phone 1212) 737 33 9V737 38 13 - Fax: (212) 86l 14 34. 

Saturday, April 23 f 1994 

Room 1 & 7 at 11 a.m. and 2.30 p.m. - ORI ENTAL ART. 
"ORIENT ET SES ARTS. LAIJRIN-GUnJXMJX-BUFFETAUD- 
T AriTFiT R- 12. rue Drouot, 75009 PARIS. TeL: (1) 42 46 61 16- 
Fax: (D 4~ 70 12 51. 

— Tuesday, April 26, 1994 

Room 9 at 2.15 p m. - FINE INDIAN, HIMALAYAN, SOUTH 
EAST ASLAN ART. On view: at the auctioneer's office from 
Wednesdav 20 to Friday 22, April, 10 a.m. - 1 p.m., 2 pro. - 
6 p.m. Saturday, April 23. 11 a.m. - 6 p.m. Monday, April 25, 
10 ajn. - 1 pjn., at the Hotel Drouot Tuesday. April 26, 11 am. - 
12 am Catalogue on request ai the auctioneer's office FF 120, 
by mail FF 140. LOUDMER, 7, rue Rossini, 75009 Paris. 
TeL (1) 44 79 50 30 - Fax: (1) 44 79 50 51. 

Thursday, April 28, 1994 

a at 2 p.m. - Jiacques MATARASSO LIBRARY - MODERN 
ILLUSTRATED BOOK - ORIGINAL EDITIONS - MAGAZINE AND 
DOCUMENTS. Private viewing al the expert M. Bernard toliee, 
72 rue de Seine, 75006 PARIS. Tel.: (1) 43 26 53 82 - 
Fax: (1) 43 29 20 -i2 from Tuesday, April 19 to Thursday, April 
21 On view ar the auctioneer's office: Saturday, April 23. 11 aan. 

- 6 p m. Mondav. April 25, 10 am - 1 p.m. - 2 pm - 6 pm, at 
the Hotel Drouot: Wednesday, April 27, 1 1 a.m. - 6 p.m., 
enclosed in glass vitrines. Catalogue with 135 illustrations 
available at the auctioneer's office FF 180, Europe by ^mail IT 230, 
other FF 250. LOUDMER, 7, rue Rossini, 75009 Paris. 
Tel; U) 44 79 50 50 - Fax: (1> 44 79 50 51. 


The Splendour of Imperial Europe 

An exhibition of watercolours from an architectural tour of Europe 
& 

Windsor Castle: The Aftermath of the Fire 

A loan exhibition of eleven watercolours bom the Royal Collection 



Prague, Restoration aitheSirahm' 

13TH - 28TH APRIL 1994 




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Page 8 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 9-10, 1994 


Wealthy Saudi Tied 
To Fundamentalists 
Loses Citizenship 


RWANDA: Clergy and Aid Workers Are Executed 


/wmruri (mm Pace l Kenya, He said one of the largest 
Contained - battles occurred overnight when a 

quoted as i^nws^naKm Patriotic Front battaBon allowed 
Brussels that armed men entered . . under a cease-fire agree- 

the menl alla cked a Presidential 

and Netherlands branches of the ^ 

organization and execotal Rwan- “teach a lesson*’ to the gu 
danen^l^eesm&omof^r.- day of looting. " 

The Rwanda airport, the sib 
Rwandans working for Gxfam and ^ Wednesday night plane cr 

^«1 dosed Friday and ut 

and the Catholic clerics appeared — 

to open a new phase m the carnage 

that began eariy Thursday with TJrtrpS 

Prudential Guard nmis rounding UulUUJSSy Urges 


By Youssef M. Ibrahim 

New York Tuna Service 

PARIS — Saudi Arabia has tak- 
en the highly unusual step of strip- 
png a sewn of one of its wealthiest 


because he supports Muslim fun- 
damentalist movements active in 
Arab countries. 

Saadi newspapers quoted the au- 
thorities Friday as asserting that 
Ussama ibn Laden had been penal- 
ized “because of his irresponsible 
behavior that contradicts the inter- 
ests erf Saudi Arabia and harms 
sisterly countries.” They also died 
“his refusal to obey instructions 
issued to him.” 

A Saudi businessman said the 
decision had been coupled with a 
move to freeze Mr. Ibn Laden’s 
extensive assets in Saudi Arabia, 
although he is believed to control 
millions of dollars in foreign bank 
accounts. 

Mr. Ibn Laden has spent much 


The Saudis took one step last 
year, however, requiring specific 
government permission before 
funds are collected inside Saudi 
Arabia for Islamic charity and im- 
posing various controls. 

A senior Egyptian official said: 
“It may be a beginning of the end 
of the sort of benign neglect ob- 
served by the Saudi government 
toward those funding terrorists. 
But they have to do a lot more to 
convince that they are serious.” 

The Saudi attitude toward the 
politicized radical Islamic move- 
ments active in almost every Arab 
country has bees ambivalent at 
best Saudi newspapers and media, 
all under some form of official con- 
trol have occasionally taken a sym- 
pathetic view of radical Muslim 
fundamentalist movements, pre- 
senting their struggle to take power 
as a somewhat legitimate quest 



the firm control of the Presidential 
Guard, and telephone eouraunica. 
tions with the capital were difficult 
But reports reaching here from 
Kigali — from diplomats, foreign 


Guard garrison, apparently trying aid workers and others seoned 
to “teach a lesson” to the guard to confirm the earliest wont fears 


following a day of looting, of a city gone amok, with street 

The Rwanda airport, the site of fighting now ooatrauoBS and raam- 
the Wednesday nigh t plane crash, ing bands of death squa<B conduct- 
raznained dosed Friday and under ins executions of perceived tribal 


remained dosed Friday and under ing exec 

enemies. 


- Apt Korur/TSe Ajaodalcd Puts* 

COOL DAYS IN DELHI — Prime Minister P.V. Narasimha Rao gesturing as he spoke with 
Deputy Secretary of State Strobe Talbott and other U.S. officials in the bdfan capital on Friday. 
An Indian official said that India rejected any role for the United States as a broker of peace in 
Sooth Asia, asserting that Washington appeared to have a (fit toward New Deftfs foe, Pakistan. 


the cajutad of tiufmiiitant Islamic GATT: U.S. and EU Near to Loioering Earners on Public Procurement 


confidant and acknowledged fi- 
nancial backer of Shaikh Hassan al 
Turabi, one of the leading figures 
among Is lami c fundamentalists in 
the Middle East 

Operating from a large estate be 
owns there, Mr. Ibn Laden has par- 
ticipated in a number of public 
conferences of militant fundamen- 
talist movements in Khartoum over 
the past four years. He has emerged 
with the overall image of a man 
placing his vast wealth at the dis- 
posal of militan t Islamist causes 
from Afghanistan to Algeria. 

In the past year, several Western 
and Arab intelligence reports 
leaked to the media have linked 
him to the bankrollmg of camps set 
up in Sudan by various groups of 
Arab Islamists to train militants. 

The decision taken against Mr. 
Ibn Laden was seen as a signal to 
other less visible groups of Saudi 
millionaires and billionaires to cut 
their ties with militant Islamic 
groups in Egypt, Jordan, Tunisia 
and Algeria. 

Financial backing for the mili- 
tants by wealthy Saudis and other 
Gulf billionaires in Kuwait, Qatar 
and the United Arab Emirates fre- 


Ctatiaoed from Page 1 


ington last year. The two rides 


General Agreement on Tariffs and «»ched a partial agreement that 
Trade. H»ey are to meet on Tues- prides greater access to govem- 
Hau in Vf.rrnirMh ment contracts after the United 


day in Marrakesh. meni «»tracis aner me umieo 

An official at the European State invoked sanctions against 


rui vuiwuu uv Haw i w wy — _ — 

Commission in Brussels said: “We EU - 

are optimistic. It’s fingers crossed.” The deal last spring called for a 


“I tbmk it is do-able,” said a U.S. two-year bilateral arrangement; 
official at the talks. “Both sides are under it, neither side would de- 


signing on April IS of the Uruguay subject of labor conditions, which 
Round accord. The 500-page txea- was demanded by the United 
ty, the largest trade agreement in States and France, the government 
history, is expected to add more ministers meeting in Marrakesh are 
than $200 billion to the world econ- expected to raise a number of other 
omy. It will establish the World new issues for discussion by the 
Trade Organization as the sucoes- preparatory committee now- plan- 
sor to GATT. ning the World Trade Organiza- 

Aside from the controversial turn. 


litical figures and their families. 
Some of those arrested were later 
executed. 

Much of the fighting centered on 
rivalry between ethnic groups. The 
Hutu tribe forms the majority in 
both Rwanda and Burundi but 
since independence from Belgium 
three decades ago the two countries 
have been repeatedly convulsed by 
ethnic fighting as the Hutus 
dashed with the minority Tutsi 
tribe. 

In Rwanda, the Tutsis formed 
the Rwandan Patriotic Front that 
invaded the country from Uganda 
and after three years of guerrilla 
war forced Mr. Habyarimana into 
a series of concessions that includ- 
ed an unfulfilled promise to forge a 
new coalition government with the 
rebels. That agreement appears to 
have broken down, with reports of 
Presidential Guard units battling 
Patriotic Front guerrillas in the 
capital and thousands more guer- 
rillas advancing on the city from 
the north. 

“We have these rebels fighting 
the army now,” said Cyprien Habi- 
mana, Rwanda’s ambassador to 


Evacuation of 
AH Americans 


The Associated Pros 

WASHINGTON — The 
U.S. Embassy is shutting 
down in Rwanda and the State 
Department is looking for 
ways to evacuate the 250 
Americans in the country. 

The airport at Kigali is 
closed ami the State Depart- 
ment wants to get all Ameri- 
cans out, administration offi- 
cials said Friday. 

In Burundi, the airport at 
Bujumbura remains open and 
most of the 400 U.S. citizens in 
the country are being urged to 
leave. Only a handful of essen- 
tial U.S. government person- 
nel are to remain, said the offi- 
cials, who spoke on condition 
of anonymity. 

A uavd advisory said all 
private U.S. citizens, all U.S. 
government employees whose 
jobs are not essential and all 
dependents should leave. 


There were alro reports from the 
French Foreign Ministry b Paris 
on Friday that in addition to the 
Belgians, UN peacekeeper from 
Ghana and Bangladesh had been 

slain 

France, Belgium and the United 
States woe considering ways to 
evacuate their nationals from 
Rwanda, a task complicated by the 
fact that the Kigali International 

Airport remains in the hands of the 

Presidential Guard. 

France placed its 8,000 troops 
scattered around Africa on high 
alert, in a sign that foreign inter- 
vention in Rwanda might be immi- 
nent 

Belgium has about 1,500 nation- 
als in Rwanda not including the 
UN peacekeeper and France has 
about 600 nationals. 

Meanwhile, Rwandan analysts 
said what exactly caused the presi- 
dent’s jet to go down may never be 
known. Rwandan officials who had 
gathered at the airport to greet the 
president on his return reported 
seeing two explosions. 

There was also speculation that 
the jet may have been shot down by 
the president's guards as part of a 
coup plot just as he was about to 
make peace with the Patriotic 
Front. 


working constructively and both criminate against tbe other on a 

j a * j i r» e . j 


rides want a deal. 


Although the EU and the United items. 


range of services and construction 


State already are parties to the The United States also said it 


LATIN: In South America, Old Foes Turn Into New Friends . and Good Trading Partners 


concerned with centra [government 035 *. Valley Authority and other 
Durchases of goods. If Sir Leon and federal electric power utilities in 
Mr. Kan tor achieve the expected exdiange for the EU doing the 
agreement next week, the accord ^^Tits electric utility market. 


r^uwi (imi PsMw> 1 have already converted the region 

Continued from Page l bto the world’s fastest growing 

United Stares and France, Latin market for U.S. exports, 
leaders are discovering that their And it is easy to see how detente 
fastest growing trade is with their is soothing national tensions. 


O’Keefe, president of Mercosur grow most of Paraguay’s soy crop. Fujimori, has pursued a good 
Consulting Group, a New York An additional 10,000 Brazilian neighbor policy, via ting Santiago 
business consulting concern. “I farmers have moved into eastern five times in the last two years, 
don’t thmk that anyone in the Ar- Bolivia. Brazilian investment is so Chile is now a major investor in 


wonld be open for signature by a The Union also dropped a nilegiv- 
group other governments who are ^ Europcan bidders on electric 


neighbors. 


With the advent of civilian rule 


tak^ part b the procurement ne- utflities a 3 percent price prefer- 
gotiatams. These include members aiC ^ United States now wants 


“Our trade with Paraguay is now in the three countries of the South- 
greater than our trade with era Cone — Argentina, Brazil, and 

C " A ^ TJ M.n. V J- 


rf the Organization for Economic 3 pocent rule dropped by oth- 
Cooperation and Development, a utilities. 


France,” Celso Amorim, Brazil's Chile — annual military spending 
foreign minister, said in an imer- has dropped by one-quarter, from 


Hong Kong. Israel, Singapore and 
South Korea. 


view. “Our trade with Uruguay is $ 4.9 billion in 1985 to $3.7 billion 
now at tbe same level as our trade in 1992 . according to the Interaa- 

r.l. K .. v n. ■ 


Officials involved in the talks 


The agreement, which is de- Friday that Sir Leon and Mr. 
scribed by officials as “parallel to Kantor «uld extend their discus- 


with Britain.” tional Institute for Strategic Stud- 

Brazil is negotiating tbe forma- ies. 


tion of a South American Free Since 1990. trade between Ar- 


GATT ” needs to be reached be- ^ons into Wednesday if more time 
fore April 15 in order to be present- was needed to conclude the pro- 


Trade Area, with 1995 to be the gentina and Brazil has more than 


S ly takes the guise of Islamic 
ty works, the building of 
mosques, or the starting of Islamic 
businesses that are used as chan- 
nels to pomp money into the mili- 
tants’ war chests. 

Saudi Arabia has responded 
slowly to requests by Arab coun- 
tries that have been targets of Is- 
lamist violence that it rein in its 
rich fundamentalists. 


U.S. Congress as part of curement accord. The two arc also 


starting 

“FbS 


tripled, hitting $6 J billion last year 


lowing the North American and making Brazil Argentina's 


the “fast track” trade approval expected to discuss trade relations 
mechanism. A US. official said it with Japan, the compromise 


example, we want to abolish tariffs 
on 80 percent of South America’s 


t trading partner. 

at kind of Argentine ship* 


would open more than $100 billion « ached ™ *** 

in annual procurement opportuni- * s a e workers’ rights and trade, 
ties for European companies doing ««* outstanding trade issues not 


regional trade over 10 years,” Mr. would Rio’s shore guns blow out of 
Amorim said: * — 1 — .- J — 0 ^ » 


Rio’s harbor today? Certainly not 


business in the United State and contained in the Uruguay Round 


Greeted favorably by many oil tankers, now that Argentina is 
South American nations, tbe Bra- Brazil's second-largest source of 


business consulting concern. *T 
don't think that anyone in the Ar- 
gentine military or in the Brazilian 
miHtaiy still sees the other as a 
potential threat.” 

In the last century, Brazil and 
Argentina buQt their railroads with 
different track gauges to prevent an 
enemy invasion by ntiL Today, in- 
tegration is the order of the day. 

B razilian engineers are drawing 
up plans for a 2,400 kilometer 
(1,500-mile) highway to speed 
products between Sao Paulo and 
Buenos Aires. This month, a Wash- 
ington consulting firm, Louis 
Beiger, started feasibility studies 
on one link, a SI -billion, 50-JriJo- 
meter bridge, joining Buenos Aires 
and Coloma, Uruguay. In March, 
the Inter-American Development 


heavy in the thinly populated into- Peru's privatization of state compa- 
rior of Uruguay that newspapers tries. 


nor of Uruguay that newspapers tries, 
predict that Brazilians win own 
one-quarter of that nation’s farm- " 
land by the end erf the decade. fPi T 17*0 
Nowhere is the improvement in I r \ 1 
relations in South America dearer 

than on tbe Qiflean-Aigentine bor- Little PiTOgreSS 

In 1977, with generals ensconced Continued from Page l 

in their presidential palaces, the which is fighting a virtual civil war 


two neighbors came to the brink (rf with the ANG 

war over ownership of islands at in his comments, KingZwetith- 


South America’s southern tip. Ten im accused the ANC of orchesuat- 


years of civilian role in Argentina mg “two direct and intolerable at- 
and five years of it in Chile have tacks on the Zulu na ft<wt u pA to any 


American concerns doing business ®cord Mr. Kantor also will bold 
in Europe. trade talks with Japanese officials. 

The subject of government pro- The Marrakesh meeting, to be 
curement was a major area of dis- attended by trade officials horn 


riKan proposal capitalizes on fore- imported oO after Saudi Arabia, 
casts that most trade within the Certainly not freighters loaded 


continent will be duty-free by the with wheat, now that Argentina 
end of the 1990s. Benefiting from supplies 75 percent of Brazil’s inl- 


and Coloma, Uruguay. In March, 1991, the year the countries settled House massacre and the declara- 
ble Inter-American Development 22 border disputes, trade has tri- tion of the state of emergency in 
Bank agreed to finance almost half pled, and Chilean investment in KwaZulu with consequent mili tary 
of a 5718-million project to im- Argentina has jumped 10 $2 biffion invasion.” 
prove road and river lints between from about $100 million. King Zwehthini said be coosid- 

Argentina and its neighbors. Construction stated last year on ered “the declaration of a state of 


prove road and river lints between from about $100 million- King Zwehthini said be coosid- 

Argentina and its neighbors. Construction stated last year on ered “tbe declaration of a state of 

By theend of this decade, Mer- a 1 ,2 00- kilometer pipeline to sop- emergency in KwaZulu to be an act 
cosul nations hope to complete the ply Santiago with natural gas from ■ of foreign ag gression an invasion 
HJdrovia, a five-nation inland wa- Argentina. This year, engineers are of our territory and a rape of our 
terway that will allow barges to to begin studies on the building of a national dignity and pride.” 
travel 3,470 kilometers down the 23-kriometer electrified railroad The king repealed his demand 
Paraguay and Parana Rivers, from tunnel through the Andes. for sovereignty in KwaZulu-Natal, 


Latin America’s opening to oulsid- ported wheal. 


pule between Brussels and Wash- 121 countries, will culminate in the era. American business executives 


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Regional trade is expected to 
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tbe day that four neighbors — Ar- 
gentina, Brazil, Uruguay, and Para- 
guay — introduce tariff-free trad- 
ing under a common market known 
as MercosuL (In Spanish-speaking 
countries, the agreement is known 
as Mercosur.) 

“The whole hypothesis of war 
between Argentina and Brazil has 
been junked,” said Thomas A. 


a 1,2 00- kilometer pipeline to sop- emergency in KwaZulu to be an act 
ply Santiago with natural gas from - of foreign aggression, an invasion 


terway that will allow barges to 
travel 3,470 kilometers down the 
Paraguay and Parana Rivera, from 
eastern Bolivia to the South Atlan- 
tic. By next October, Brazil plans to 
inaugurate a separate system of riv- 
er locks that will allow barges to 
travel 2400 kilometers from Para- 
guay to S§o Paulo. 

Spilling over national borders, 
200,000 Brazilian fanners now 


The king 


ride.” 

his demand 


and through the Andes. for sovereignty in KwaZulu-Natal, 

Elsewhere, countries that were saying, “Tbe only thing to talk 


once locked in aims races now dis- about are the modalities of bring- 
cover that former enemies can be ing tbe sovereignty of the Zulu 

thmr morlrAft a A. .11 --** ** 


thrir best markets. 

While many Peruvians nurse 
grudges with Chile over the loss of 


grudges with Chile over the loss of 
territory in the 1879 War of the 
Pacific, Peru’s preadent, Alberto 


Kingdom into full recognition.” 
nuvians nurse So far, the KwaZulu adnrinistra- 
over the loss of tion has not cooperated in the deo- 
79 War of the tion process, 
adent, Alberto (Reuters, AFP) 




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RELIGIOUS SERVICES 


AMSTERDAM 


FRANKFURT 


CROSSROADS WTERNATTONAL CHUR- CHURCH OF CHRIST THE KINS Hoiufcnd 


CH Wwdwon wM Monal & Evangetcai Sun- 
day SorvicB IftGO tun. & 1130 am/ Kids 
VMefcama. Do Cuswsfcaat a S. AmsJarttan 
Ho. 02940-1 5316 or Q25034138G. 


(EptscopeVAngfccan) Sun. HcW Cori rnu ri un 9 5 
17 am Sunday Srtool md TOsoy UM5 am. 
SetB9t3nRbcSL2^60323Rani&jt,Gsnna- 
ny. U1 , 2. 3 AAquoMAea TaL 4969 55 01 84. 
GENEVA 


ALL SAWTS CHURCH 

during restoration wO m 

Wfcno in the Chapot of *» Otsdro Asdua. 
Holy Commumon Sundays at 1030 and 
tjt 1930. Sunday Sdioc I. You h 
Creche, Cotea, study 

Al are w c com o l Cafl 


B4MANUEL CHURCH, 1st 3 rI ft 5ttl Sm. 10 
a.m. Eucharist ft 2nd ft 4tti Sun. Morning 
Prayar. 3 rua da Marttnux. 1201 Geneve. 
mtoxLTeL 4V22 732 B078. 


BUDAPEST 

btemdanN Ba^ FsIcMshl)- 0 BMX) a 56 
(malt entranoaTapcfcsanyl a 7. hmadUehr 
behind tort entanoa). 1030 Bfcla stutfy. 600 
pm. Pastor Bob Zbindaa^ TaL: 11561 16. 
Reached by bus 11. 

BULGARIA 


INTERNATIONAL BAPTIST CHURCH. 
Sofa. Qand Nanxho Sctnnia Square. Vta- 
shlp 114)0. James Duka. Pastor. 
TeL 704387. 


MUMCH 


PRAGUE 

MamaBonai Baptist Fetewshta meets at Sie 
Czech Baptist Church Vnonredska # 68, 
Prague a Al metro stop JWmz Podebrad 
Sunday a.m . 11:00 Pastor Bob Ford 
(PSQ 311 0693. 

WUPPBtTAL 

Wwn ^ on al Baptist Chun*. Englsh. Ger- 
man. Fasten. Worship 1ft30 am, Sotoe*. 
21, Wlfjpertal - QberfefcL Afl denominaflons 
welcoina. Hans -Die for Freund, pastor. 
TeL: 000214898384. 


MUNICH 

INTERNATIONAL COkMUNtTV CHURCH, 


tei 4:15 pm. 9mta 
Therasfens*)<089J 


tevmserac8siiBtf- 
i at EnhLier Sk. 10 (U2 
34S74. 


THE CHURCH OF THE ASCENSION; Sun. 
1VA5 am. Htey Bcharite and Sinday SchodL 
Nursery Cara provided. Seybotosfrasse 4. 
81545 Munich (Hartadiing), Germany. TaL: 
49896481 85. 


CBJJE/HANNOVBt 

INTERNATIONAL BAPTIST CHURCH. 


WMtnJen Skassa 46. Cate 1300 VVbrahto, 
1400 BUe Sudy, Pastor Wart Campbel, pfc 
(05141) 46416. 


ZURICH 

INTERNATIONAL BAPTIST CHURCH Ot 
VOdanml (ZtHcl^, SwteeriandL Rosanbag- 
strassa 4. Worship Sendees Sunday 
mraimgs 110L TeL 1-7002812. 


MONTE CARLO 


INTL FELLOWSHIP. 9 Roe Loute-Ncteri. 
Sunday Worship 11:00 ft 6 pm. 
TeL 92.165600, 


ST. PMJLS WITWN-THE-WAILS. Sm 830 


DARMSTADT 

DARMSTADTiSBRSTADT BAPTIST fcHS- 

SK3N- Bble study & WorsNp Surisy 1030 
am. StadMsteon De-Bwstadt Brosdraiter. 


ASSOC OF wn CHURCHS 
M EUROPE ft AMDEAST 


am. Holy Euteortat H to h 1030 am. Choral 22. BUe study 930, wcnHp 1046 Pastor 
Eucharist Rria I; 1030 am. Church School far JrnVfebb. TaL 061556003216. 


PARIS and SUBURBS 


HOPE INTERNATIONAL CHURCH (Evan- 
galcaO. Sm. 930 am Hotel Orion Metre 1 : 
£sptertodadaiaDtfBns& TeL 47.7353L54 
or47.75.14Z7. 


ctateen&Nusencar 
sh Eucharist. Via Mi 
TeL 396 48B 3339 or 


1 58, 00184 Rome. 
4743660. 


WATBtLOO 


DUSSBDORF 

INTEWIATIONAL BAPTIST CHURCH En- 
flteh. su. 1030, worship 11:05. CWdranTs 
ctMch and nwsary. Meets at he Hanaflonte 


SAINT JOSEPH'S CHURCH (Roman 
CsthcMc). Masses Satorday Euamig 63 0 
p.m., Sunday, 9:45, 11:00, 12:16 and 
630 p.m. 50. avenue Hoche. Paris Oh. 
TeL 4Z272656 Maria Charles da Gate - 
EUb. 


ALL SAINTS CHURCH, 1« Sun. 9 ft 11:15 iSStfSSj 
am Hcfy Eucharist wito CMdran's Chapel at 

Lo/rti. Ohah, Btegifn. TeL 3S2384-355B. com 


ay. Pastor. 


WIESBADEN 


STRASBOURG 


ST. ALBAN (Angfisart) at rEigise das DomW- 
caina. Euteortat 1030 am comer BM. de la 
Vlctoire ft rue da fUrArerelt4. Strastxxira 
(33) 88 $03 40. 

T1RANE 


THE CHIMX OF ST. AUGUSTINE OF CAN- 
TERBURY, Sun. W am Famdy Eucharist 
Frankfurter Strasse 3, Wtetei a de n . Germany. 
TeL- 4981 13086.74 


FRANKFURT 

WTERNATTONAL CHRISTIAN FELLOW- 
S4P BangaSacW^eidrehfiche Gemeinde. 




RERUN 

AMERICAN CHURCH 84 BERLIN, cor. d 
OayMre ft Pttsdonw Sri, SA 830 am. 
Worshp 1 1 am. TeL 030S132021. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRUSSELS, Sunday School 
930 am and Chrach 10:45 am Katenbem 

19 (at the Int School). Tel.: 673.05.81. 
Bus 95. Tram 94. 

COPENHAGEN 

JjnSWATCMAL CHURCH of Qnrfra. 
^ftnremada Vartov, near Stody 

1035 ft Wtorte* 1130 TeL 31624785. 

FRANKFURT 


WTBINA'TIONAL PROTESTANT ASSGM- 
BLV. Intaidsncrntoafanaf a EuanpefcaL Sa- 
Micas: Sun. 1030 am. 500 pm, Wud 530 
pm. Rnjga Myteym Shyrt. TeVFax 35542- 
42372 Or 23X2. 


EUROPEAN 

BAPTIST CONVBrfHON 


^ Sundaynsehool lOOa 

warnerite fable etudes. Housegrecps - Suv 
day + Wateiesdey 1930. Pastor M. Levey, 
metrtber Buopean Baptist Conwntoa "De- 
clareHsgtay amongst tie nafare.* 


BARCBONA 


TOKYO 


ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near BdatasN Sin. Ter.: 3261- 
3740. WocMp Sentat 930 am Smdays. 


FAITH FELLOWSHIP INTERNATIONAL 
meets at 1600, Bona Nova Baptist Church 
Canar de la CMat da Baitaguer 40 Pastor 
Lance Borden. Ph. 410-1881. 


BETHEL INTERNATIONAL BAPTIST 
CHWCH, Am Dachebaig 92. Fiartdurt aM 
artayw^lilXJam.andeaiuin.Dr. 
Thomas W. HR pastor. TeL OG9£40$j$L 


GENEVA 

EV. LUTHERAN CHURCH al Geneva. 20 
n» Vtordato. Sunday worship 93 a in Gar- 
man 1130 In &gbtiTet 310J0S9. 


TOKYO UNION CHURCH near Omolesav 
da sUmery sts. TeL 340900*7, VVtxshp ser- 
vices Smdqr 830 ft 11X» am, SS at &45 
am 

VIENNA 


INTERNATIONAL BAPTIST CHURCH. 
BBTLN RothfirtugSt 13. (Safe). Bbte 


HAMBURG 

INTERNATIONAL BAPTIST CHURCH 
OF HAMBURG meets at TABEA PEST- 
SAAL, AM ISFELD 19. Hambura-Ostootf. 


stody 10.45. worship d 1200 each Sunday. 
Charlas A Watord, Pastor. TeL: 030-774- 


RhSRSft'USASSS 

Sunday. TeL 040B2061 6. 


HOLLAND 


VB#4A CUtiSTlAN C0TOER. A CHARB- 
MATlC FR10WSWP FOR Vl&WA'S N- 
TERNATTONAL COMMUNITY, * Engfbh 
Language * TraradanominationaL meets at 
Hal^asee 17, 1070 Vienna, &0Q pm. Every 
Sunday, EVERYONE IS WELCOME. For 
more afemMon cat 43>i-3iB-74ia 


BONN/KOLN 


THE NlWWnONAL BAPRST CHURCH 
OF BOWKbLN. Rhemi Strasse 9, K&l 


TRI'flTY BAPTIST SJ3. 930. Wartetp 1030, 
nursery, warm fellowship. Meets at 
Bkwmeamplaan 54 in Wassenaar. 
TeL 01751-78024. 


Wor ship 1 :00 pm. Cahfa Hogue. Pastor. 
TeL (02236} 47021. 


MOSCOW 


UJTVCRAN CHURCH of t» Redeemer, ad 
C#y. Muristen Rd. Engfch woraMp Sun. 9 

am Ala® wetwna TeffiS) a 8 l- 0 « 

LONDON 

A8®tiCAN CHURCH in London at 79 Tot- 
wfem a Rd. WL Worship m aoass at 

OSLO 

Ameripan Lutheran Church, FrttznersgL 15 
Wprehto ft Sunday School 10 a.m. 
TeL (02) 4435 B4, 

PARIS 

AM&tiCAN CHUFCH W PA«S. WOreNp 
IlflO am 65, Qute cfOraay. Paris 7. Bus 63 
a door, Mteip AJma-Macsau d tow^das. 

STOCKHOLM 




IfllB * 


r V* y 

v .• 


reworked lie landscape. Since Zula in South Africa: the Shell — ' 


IMOMiC ! 


len 


VO( 


BRATISLAVA 


NTCTnaTJONAL BAPTET FELLOWSHIP CHURCH. Worship Christ In 

M ortem 1100; Kirto Center BtfJWISDng- Engteh. or Korean. li^X) am. 

nnMmfaMnu9 1 ■ c*. n Sunday. Birauf Jartsn al Kunastansa. 


THE EPISCOPAL CHURCHES 
Of EUROPE (AngSam) 


hEn^sh 

jpfel Church Zhntetehd 2 T&30- 


^gw^tfayaULStii Ftocr. Ha 8. Meto 
(095) 1503293. 

MUNICH 


17- 4^ 

WomraSuL 

VIENNA 

VBWA COMMUNTTf CHUBCH, Sund^ 


lfl0THJICHS00H(iaettllftn 05)0-890-877 


PARIS and SUBURBS 

1>CAMEBCAN CATHEDRAL OF THE HO- 
LY TTflNTY, Sul 9 S 11 am 10 am. Sm- 


BREMEN 


WISINATIONAL BAPTIST CHURCH OF En^igiViaO AM., Sunday 


CMam iwnctiore jppfy enere enunoy n cwwrv caBng * avaftUe uang subtea n change For raixrom (iun*ea customer 
or addition) numoors cas i-flOM77-46<fl wfWa m <he U S or (he Sunni Access Nunte of the country «w re m 
B* Uwwtos coumrv 10 unimiy ullmg avadjniiry . FOMCARD billing only U«e Global Calling B?' rvjmbw 4 pin 
loenanai «Mn&bcaoon nuiDIwi GlotHl Calling rates eocly •WV^rsecqmione ^Pusl^Bhoneiraywcutmcoiiorcani 
/AvaiiwteatmosiDhaneB • Eastern ps»uon may ferjuu? apoeni mm CaU leeai ooefatw to* assiaarea — FOmCARD 
W4ng CofecfcdffcUS Mmnnafiod only - (n wire ar&is.aslL the uc^ooerarario oonmer you K>tnc Spruit Osentor. 
••From o»y prunes push rad Button, wart tor rone men duio?> sAvaMtuealmiJiiaiy stones oily bAhiUM from 
dedicated OtonH u local tong ctsrBnc<3 charges may ^ppiy 


UMTEO KnSOOH (BT) 

■ tM7H) ratfiDon 
— ISA. 

-HS.«RfinHSUOT8 

-UFDGLWt’ 

-Hflmcjur an 

VSCZUELAarGUSH 

VWEZU&ASW.MSH 


ooofi-890-an 

osoo-m-aoo 

T 800-877-8000 

1-800-877-818)0 

000417 

172-1877 

BOO-IIIT-O 

800-111M 


day School for chfew and Nursery care. 
T7*d Sunday S pm Ewnaong. 23, arenue 
George V, Paris 75008. TaL 33^1 4720 1? 92 , 
Mteio: George Vor Atm Mteoarat 
FLORENCE 


NTBRNATONAL BAPTIST CHURCH (Bi- 
g8sh tengugo) maeto al EvangafishFreHr- 
chlfch KrauzgsmaWs, Hoften/ohestrasse 
Hetmanryflose-Str. (around he comer ban 


MUMCH Hcfestr. 9 

vices. BUe study Iraw. non 
1700. Paten's phone: ©08534. 


PARIS and SUBURBS 


the BahrtoQ stxiday worship 17D0 Ernest 
D. Water, pastor. Trf. 04791-12877. 


□.Water, pastor. T A 04791-11 

BUCHAREST 


EbfeANUa BAPTIST CHURCH. 56 Rue 


school nursery, to te mafa i a t at darwnWte- 
licra wekame. Dorotiueroasse 16. Vienna 1. 

WARSAW 

WARSAW INTERNATIONAL CHURCH. 
PWtestarf Engfeh language expattatea Sliv 
da^B 1130 am. (SepL-kfo), 10 am. Uune- 


dea Sons-ftalsina, Rueil-MaJmaison. An S unday School 93T (SepHrtey) UL 


ST. JAMES’ CHURCH Sun. 9 am Rto I ft 
11 am. Rite II. Via Bemaido Rucelai 9, 
50123, HorEnco, toty.TeL 39S52944 17. 


INTERNATIONAL BAPTIST CHURCH 
Stiada Pcpa Rusu 22 330 pm Contes B4 
Rjcherdsan, TeL 01091-61 . 


Ewangefical cfutei for the BigEsh speefckn 
1,1 wwtom 
afaateSS. 545: Wfarahp 1R45. ChUms 
OuchratoNusay. Youtomnistites Dr. B.CL 


Thomas, pastor. Call 47,51,29.63 nr 
4749LlS29foriraamiatian. 


*fcd«B2!.TeL43»7a 

ZURICH 

WTWiwnOhW. PROTESTANT CHURCH 
^eaKtns. wocfcte*i savfee, Swxtey 
y* 001 & Nursery. Sundays 11:30 am, 
SdwiamoBB» 2S TeL {pi) 2625525. 


S ' J ! 

O'' 

•Sw'S 

i'J h. 

V 1 *4-. 







5 









IHE™ B INDEX: 1 1 0.42 ft 

Tri ^une World Stock Index ©, composed of 



,; ' •» World Index 

'-" ■■'■ •'• - 

' '-• 0.:s: •• - :3 

ra^x^r;, •',*•. • •-*.•** . ... _-.V , , ‘ „V> i "- v 


Asia-Pacific 


Approx. walgfiSng: 32% 

Close: 127.58 Prav.: WM 


wssmm 


yg£& , *\ 


Approx. wdghBng: 37% 
Owe: 111.87 PlWJ 111 3S 


I- ", -v. r*. *.>♦•«' •••:.■,<■ ,-t-; | 

l^&rJv.:-. 


j 

N D J F 
1993 

M A 
1994 

N D J F 
1993 

M A 
IBM 


WJM North Amoric.'i 


Lalm America 


• * 

Approx, itagltin&m 
^^CtoserM^Prw^gtw 

EMU 

fH 

Approx. migtflng:S% 
Oosk lisa PhwjIIJB 







N D 
1983 


90 

NOJFMA NDJFMA 
b 1983 1984 1983 1984 

??„ Wortd Index 

The index Backs U.S. doBar values of sloda hr Tokyo, New York, London, and 
Argentina, Australia, Austria, Belgium, Brad, Canada, CMb, Denmark, Finland, 
France, Germany, Hong Kong, Italy, Mexico, Netherlands, New Zealand, Norway, 
Singapore, Spain, Sweden, Switzerland and Venezuela. For Tokyo, Near York and 
London, the index b composed of the BO top issues in (arms of market c up fl nfeafo n . 
otherwise the ten top stocks am tracked 


Industrial Sectors 


Fit Pm* % fit ftnr. % 

doe* ekua change deer duet dag 

Energy 107.60 106 £5 40.89 CapM Goods 109,67 109.75 -0,07 

Unties 12 Q .40 119.75 +054 BawIMefMs 122 J 8 121.79 40.88 

Finance 1 16.15 115.42 + 0-63 Consular Goofr 95.75 96.48 - 0.76 

Services 115.59 11655 -0J& Wucefcnsoai 125^2 12556 40.05 

For mow mlomtatian about the Index, a booklet is avaSabtg free at charge. . 
Write 10 Trib Index, 181 Avenue Claries deQaute, 92521 NeuSty Codex, Fiance. 


International Herald Tribune , , Friday, April 9-10 \ 1994 


Page 9 &h 


The Fed: A Central Bank in Flux 

Greenspan’s Role In Rate Decisions Is Diminished 


By Louis U chi telle 

New York Tima Service 
NEW YORK — Without a vote or even a 
formal discussion, the Federal Reserve 
Board’s top policymakers are taking over the 
process of raising and lowering interest rates 
rather than allowing their chairman, Alan 
Greenspan, to act on his own between Fed 
meetings, as he often has in the past 
Several Federal Reserve officials, speaking 
on condition of anonymity, described the new 
approach not as implying criticism of Mr. 
Greenspan but as a sign of a growing reluc- 
tance to delegate authority to any one person. 

In fact, both of the Fed's recent moves to 
raise rates, in February and in March — the 
first increases in US. interest rates in five 
years — were decided by the policymakers as 
a group, in the face of faster economic growth 
and growing concern about inflation. 

The new approach to decision-making has 
evolved through consensus, and while it has 
not been made forma}, neither has Mr. 
Greenspan challenged iL 
It comes partly in response to pressures from 
Congress for the Fed's poEcymakers to be more 
open and accountable for their actions. 

“We are under enormous pressure from 
some quarters to stand up ana be counted,” 
one Federal Reserve official said, referring to 
congressional demands for more disclosure 
of Fed deliberations. “Hus change we are 
making may be a halfway house for taking on 
that accountability as a committee rather 
than individually, by making rate changes 
committee decisions.” 

But the president of the New York Federal 
Reserve Bank, William McDonough, on Fri- 
day dismissed the idea of a change as '‘non- 


sense,” and said Mr. Greenspan “continues 
to exert strong leadership" in the Fed’s poli- 
cy-making body, Reuters reported. 

The Fed has said its job has become more 
difficult because the economy is behaving in 
ways that traditional statistics are failing to 
measure adequately. 

“If our national indicators were more reli- 
able, there would not be as great a need for a 
collective decision, and we would be delegat- 
ing more authority to the c hairman, ** said 
Harvey RosenHmn, director of research at 
the Federal Reserve Bank in Dallas. 


Both of the Fed’s recent 
rate increases were 
decided and 
implemented by the 
policymakers as a 
group. 

In the past, the policymakers, collectively 
known as tire Federal Open Market Commit- 
tee, adopted directives that gave the chair- 
man guidance. But actual changes in interest 
rates were almost always engineered by the 
Fed chairman in the six to eight weeks be- 
tween each meeting. 

He either acted on his own or after a 
telephone conference call with his colleagues, 
a practice that Wayne D. Angeli, a Fed gover- 
nor who resigned in February, described as 
less than satisfactory. 

“It is difficult for the members to politely 


disagree in a conference call the way they can 
at the meetings.” sud Mr. AngeH, whose views 
sometimes dashed with Mr. Greenspan’s. 

The directives adopted at each meetings 
are called, in Fed jargon, “symmetric” or 
“asymmetric.” 

An asymmetric directive, toward higher 
rates or toward lower rates, would give Mr. 
Greenspan the green light to move in the 
indicated direction if he wished to do so, and 
a symmetric directive was effectively an in- 
struction to leave interest rates alone. 

Before the Fed's two recent moves, rate 
changes typically occurred in this fashion 
between meetings. 

But, significantly, the policymakers voted 
at their meeting Feb. 4 to raise rates cm that 
day. And instead of adopting an asymmetric 
directive to reflect their view that rales should 
be going up, they took the unusual step of 
adapting a symmetric one — in effect, telling 
Mr. Greenspan not to act between meetings. 
Their next meeting, on March 22, produced 
another vote to push up rates on that day. 

Although the minutes of that closed-door 
meeting in March will not be published until 
May 20, the policymakers are likely to have 
adopted another symmetric directive — urg- 
ing Mr. Greenspan to do nothing about inter- 
est rates until the next meeting, on May 17. 

The new insistence on changing rates at 
meetings, not between them, has inevitably 
raised speculation that some members of (he 


Open Market Committee were losing faith in 
Mr. Greenspan. 

That policy-making group is made up of 
Mr. Greenspan and the six other Fed gover- 
nors based in Washington, as well as the 

See GREENSPAN, Page 10 


Alcatel and Pirelli Seek a Stake in Stet 


.. _ O International HaciklTifbuns 


By Jacques Neher 

International Herald Tribune 

PARK — Alcatel Alsthotn, the 
French telecommunications, trans- 
portation and power systems 
group, said Friday that it had 
linked up with Pirelli SpA for the 
chance to bayastakein Stet SpA, 
the I talian telephone company due 
to be privatized this year. 

The affiance, analysts say, would 
aim to ensure that Telecom Italia, 
as the new phone company is to be 
called, womd be a good customer 
fra 1 products sold by Alcatd and 
Pirelli, and it could pave the way 
for some joint ventures among sub- 
sidiaries. 

Aloud and Krelfi are the largest 


and third-largest suppliers of cable 
in the would, and Alcatd is the big- 
gest supplier of telephone switching 
and transmission equipment. 

As a Telecom Italia shareholder, 
Alcatd also could advance its am- 
bition to become not just a supplier 
of telecommunications equipment 
but a provider of services as wdL 

On Wednesday, Pierre Suard, 
AkateTs chairman, said he was 
“very interested” in the Italian tele- 
communications market, despite 
being edged out a week earlier by 
Semens AG of Germany for the 
rede of foreign partner for ItaheL, 
the equipmen t-roanufactnring arm 
of Stet 

. On Friday, Jean-Paid Chapon, 


an Alcatd spokesman, said that 
Pirelli and Alcatel had “associat- 
ed” to take a joint stake in Stet 
“Pirelli approached us.” the 
spokesman said. 

He said he could not say how 
large a state the two companies 
might buy, acting that a firm priva- 
tization date and terms of the sale 
had yet to be seL 

Stet, with a market capitalization 
of about $15 billion, is 50 percent- 
owned by IR1, a state-run industri- 
al holding company. 

Analysts said Alcatel and Pirelli 
would need a stake of at least S 
percent to 6 percent to be consid- 
ered a major or core shareholder. 
This would imply an investment of 


close to $900 millio n if all of the 
company were privatized at the 
current price for the 50 percent of it 


NeD Barton, an analyst with 
Merrill Lynch in London, said a 
larger stake in Stet, such as 1 0 to 20 
percent, “would tie up a lot of mon- 
ey and still not give them control.” 
Pirelli, though heavily indebted, 
recently made a 1 trillion lire ($607 
million) convertible bond issue. Al- 
catd this week reported 1993 earn- 
ings of 7.1 billion French francs ($1 
billion), with its debt-to- equity ra- 
tio falling to 12 percent 
Analysts said the two companies 
would each gain something from 

See TELECOM Page 10 


Dresdner to Tap 
Foreign Investors 
For $700 Million 


By Brandon Mitchener 

International Herald Tribune 

FRANKFURT — In a bid to 
raise its profile among internation- 
al investors and boost its share per- 
formance at home, Dresdner Bank 
AG said Friday that it would issue 
the equivalent of 3 million shares in 
a worldwide stock flotation that is 
expected to raise about 12 billion 
Deutsche marks ($702 million). 

The international offering is the 
biggest to date by a German bank 
aim is particularly geared toward 
UJ5. institutional investors. They 
are expected to snap up about a 
third of the total issue in a private 
placement that is not subject to U.S. 
financial disclosure regulations. 

Dresdner Bank, which is Germa- 
ny’s second-largest commercial 
bank, also announced Friday that 
it was raising its dividend on com- 
mon shares to 13.50 DM, up from 
12 DM a year ago, and that its 
group operating profit after bad 
debt provisions had risen by 23 _5 
percent, to 2.04 billion DM, in 
1993. The result was better than 
widely expected by analysts. 

The new share offering is rare in 
that it allows Dresdner Bank to 
exclude existing shareholders in or- 
der to place the shares exclusively 
among non-German investors. 

Shares are to be offered immedi- 
ately to funds and other institu- 
tional investors in New York, Lon- 
don, Tokyo, Paris, Amsterdam. 
Hong Kong and Zurich, with the 
allocation to each location depend- 
ing on demand. Officials said an 
initial 700,000 shares are allocated 
for placement in the United Stales. 

Jurgen Sarr arin, the bank’s chair- 
man, said there was “absolutely no 
question erf a direct listing” on Wall 
Street, which would require 
Dresdner to adopt U.S. accounting 
standards. Only one German com- 
pany, Daimler-Benz AG, lists and 
reports according to US. standards. 

Dresdner Bank already has U.S, 
shareholders who hold American 
depositary receipts, which are trad- 
ed over the counter in New York. 
But the new shares are intended to 
fall under a rale known as 144A that 
was adopted in 1990 by the Securi- 
ties and Exchange Commission and 


governs private placements among 
institutional investors. 

Heino Roland, an equity strate- 
gist at Nomura Research Institute 
Deutschland in Frankfurt, said the 
offering was a convenient way for 
Dresdner Bank to “kin two birds 
with one stone,” raising its profile 
in the United States and elsewhere 
and raising cash on good terms. 

“AD Goman companies are try- 
ing to expand their shareholder 
bases beyond Germany” Mr. Ru- 
land said. Banks, he added, are par- 
ticularly interested in international 
expansion because the local market 
for bank issues is exhausted. 

Other analysts noted that 
Dresdner Bank has been unhappy 
with the performance of its shares 
in Germany. Its shares have under- 
performed the 30-share DAX stock 
mdexby21 percent over ihe last 12 
months and underperformed the 
stock of Deutsche Bank AG, its 
larger rival by 6 percent 

Mr. Sarrazin said the shares 
would be issued at a price “very 
dose” to the prevailing market 
price. Rights issues usually give ex- 
isting shareholders a substantial 
discount 

Bank officials had no comment on 
the implications of ilje issue for Ban- 
que Nationals de Paris, which has 
said it warns to acquire a state of as 
much as ID percent in Dresdner. 

Dresdner Bank shares dosed 
Friday at 420 DM on the Frankfurt 
exchanger up 5 DM from Thurs- 
day, even though the issue might 
lead to lower earnings per share 
and dilute share value. 

The rise in the stock price was 
attributed to the announcement of 
the dividend increase and 1993 re- 
sults. UBS Phillips & Drew, which 
is part of the consortium that will 
place the new shares, raised its rec- 
ommendation on Dresdner Bank 
on Friday from “sell” to a still 
cautious “bold.” 

Mr. Sarrazin said the bank’s bad 
debt provisions, which include cov- 
erage for possible losses related to 
Meiallgesdlschaft AO, the trou- 
bled trading, metals and financial 
services company in which 
Dresdner owns a 14 percent stake, 
rose 47 percent last year, to 1.77 
billion DM, he said. 


ECONOMIC SCENE 


Sherwood Forest to the Rich? 


By William E. Schmidt 

iViw York Tima Service 

N ottingham, England — There 

isn’t much left of Sherwood Forest, 
and what there is, Robin Hood would 
hardly recognize. Farmland, pasture, 
coal mines and urban sprawl have claimed most of 
the trees. Where there is greenwood — scattered 
pockets like islands adrift on the dull Midlands 
p lain — it consists mostly of dense stands of 
Mediterranean pine, imported and planted by the 


government after World War I as a cash crop. 

But wbfle Sherwood Forest is onfy a tlun wisp of 
its medieval past, when the thick, gnarled oaks and 
spindly birches offered sanctuary to the bandits 
and rebellious woodsmen who once harried the 
sheriff of Nottingham, its scattered remnants are 
at the heart of national debate over the future of 
Bri tain 's public forest lands. 

Prime Minister John Major’s Conservative gov- 
ernment is contemplating whether to turn over to 
private investors contra of 4355 square miles 
(1 1 ,270 square kilometers) of woodland and heath, 


is now managed bv the Forestry Commission. 

Proponents of 'free-market economics in the 
government argue that privatization of Balms 
forests. Eke the earlier privatization of amines ana 
utilities, would draw fresh investment and help 
renew the moribund timber industry. 

But a coalition of local government officials, 
conservationists and recreation enthusiasts has 
mounted a campaign, warning that selling these 
lands would sharply reduce pubhc acasstothem. 

“Now that the coal industry has collapses, we 
view air forests as the heart of our county and the 
toy ,o oorSs,” sadGmah Broomj 
ry officer for No ttm g hams l ure . “We obviously 
Xn’t want to see them 
private owners more interested m profit than pub- 
lic access.” 


Few groups are as organized and vocal as Brit- 
ain's vast army of hiQ-walkere, hikers and bird- 
watchers, who have a passionate attachment to what 
is left of (te countryside. Walking is ritually listed in 
surveys as Britons' favorite outdoor activity. 

Nearly all of Britain’s undeveloped forest, coast 
and moorland is in the hands of private owners — 
landed famili es, mostly, who have controlled it for 
centuries. 

Government officials insist that no decision has 
beat made on the fate of the forest lands, and have 


'Robin Hood and his 
colleagues would rise from 
the grave if they knew what 
this wicked government was 
doing . 9 

Paddy Tipping, Labor member of 
Par liament from Nottingham 

promised to do whatever is necessary to insure 
public access. But they also concede that zbe land 
is less marketable if the government insists on 
attaching covenants guaranteeing public access. 

According to a study published in February by 
the Ramblers' Association, a hikers’ group that 
risfrm 95,000 members, nearly 85 percent of the 
250,000 acres (100,000 hectares) erf Forestiy Com- 
mission loads sold to private owners since 198 1 has 
since been dosed to the public. . 

“Robin Hood and his colleagues would nse 
from the grave if they knew what this wicked 

See FOREST, Page 11 


rvn—iw AprflB 

WW * . . DM rf, UN O.F1 B.F. U=. YM C* MM 

* . uot an** — u» van* ura uos* 

AOWtertlain 2JJ LM43 . 1LHJ 2US5 CJSSt XLtt XU * 

Bnmm SII3 ZUBS UZ 1 US23* I.1N ICB* 13*13 USI* 

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unxk* f "> wra — - Tijsr ua ysjtj ms- mm — 

****** ,BJ S Sc aw usj iwj » mi 

MUaa USUI ££ ujl» UBS KJB U*M BUB UH M 

MwrYoriHW — - fH? uj- UW MNI MW «« 434 * 

Taro nfiM <w> taw ojw* usst iwi* — n*w* 

zanies \aus xot w lIW mm lbs mw 

!E£ U ^ nan wsi * 2 W «*» '** m * !n 

Closings in Amsterdam • ^»****£ -• units or m: NJ3-- not euond: MAJ not 

o: To Buy one Pouna; tt: To bur one tmmr. 

avnuome. 


Eurocurrency DapotHi 

Swiss 

Donor D-Mark Franc 


Smooths 4U-OS 5*r» 


Sources: Reuters. UaYdS Beak. 


Other Dotar 

Currency Psr* 
AiyaLpa* MW 
AwtraLI UMS 
Awtf.taa. 1M3* 
Brazil era*. V 71 D 1 
OdneieviMa U» 
Oxen karma 4977 
D«mfc* krone &7A 
Egypt, pound 3 J 7 B 5 
Fin. markka SSriS 


Vulu— m,. 

WWW 

Greek Oroc. 2511* 
Htt*KawS M2SS 
Hm.teriltf HBOS 
UdSonroPM 31-35 
MMumeioli 215M3 
irDht 

KraeHsMK. ***** 
Kuwolti dinar HOT 
Maknr.rtso- UB4 


currency PwS 
Max. pert 334 
KZMlMIt 7-775* 
Nop*, krone 7,412 
PHI. poo ZM0 

Poibtmetv 22 399 
perl, escudo T»K 
Rots, rut*: 1772X0 
Sawfl rival 
SJno-S 1 - 57 


S, Air. rand 
S.Kur.WBB 
5w9d.knM 
Tahmnt 

TMfaaht 

TurtJsh Urn 
UAEiSmam 
Vena- Mb’- 


Forward Rate* cenwev ^ *Mw»dav 

Currency 3M ov »» TJSTf UM U» 

Peand Stall ns 14737 14JM jSnrtrtVW ,<ttM ,Kya 1 °** 4 

Deutsche awk 1.71*5 jm 

Siatm franc I44S7 r+n***,; Banco Commerce itoUona 

Sources; INC Bonn faEotroMtt; *»«i Bar* ot comma 

mtont; Aoence FroncePres^P^-J^ p 
i Torontoi; mF (SORI. Other data tnm ffnnws mv 


Koy Monoy Ratos 

United Stales Close 

Dfccmfrate 3M 

Prime rate 

Federal tends a*'* 

3-raouth CDs 3-51 

Csmm. paper MO davs 4.U 

j-maatti Tteasanr fate 
l-yoar Treasury bat *45 

£*mr Treasury note 
5-rnw Treasury t»i* 

7-mar Treasury note 

ltrsar Treasury aete W2 

M-yeor Treasury Hted 

Merrifl Lynch Ttway Ready auetlBy 


MMofltiateta* 
unocth faltrtwn k 
mterO w w wMd MMl 


krterhank 


TradingProfil 
Plummets at 
First Chicago 

Bloomberg Business News 

CHICAGO — First Chicago 
Corp. sent np a warning flare from 
the banking industry Friday when 
it said first-quarto- trading results, | 
until recently a profit-driver for i 
many of the biggest U.S. banks, 
were awful 

The Hth-largesi banking com- 
pany in the United States said its 
“very negative trading results" 
were offset by more business lend- 
ing, lower credit costs and invest- 
ment gainS- 

As a result, the Chicago-based 
bank expects to report first-quarter 
earnings at or above the year-ago 
$179.1 million, or S1.79 a share. 
Tbe stock rose 87 J cents to close at 
$50,625. 

Other major banks are expected 
to report similar increases in loan 
volume when (luff announce their 
first-quarter earnings over the next 
two weeks. 

But First Chicago's trading 
losses, particularly in devdoping- 
corntry debt instruments, were the 
mam preoccupation of analysts 
and money managers. 

“It’s dear that the money-center 
banks are very heavily dependent 
on trading profits,” said Tom Gar- 
recbL an analyst with East Shore 
Partners, a New York-based invest- 
ment firm. “If s also dear that these 
banks have been hit hard — very 
hard — in the first quarter." 


CURRENCY & INTEREST RATES 





April 8 


French 



sterling 

Franc 

Yon 

ECU 

5 V *-5 

5tMMt 

2Kr2 h 

6*w4 h. 

SWrSVl, 

58HU 

2MLW, 

6*lr6»« 

SVtSri 

S’hriW* 

VU-V/s 

6 


514-4 

2MVm 

iHSVh 


Play GERMAN LOTTO for your Chance to Win MILLIONS 

8 US$2.8 BILLION 

(ITiat’s 3.9 BOBon DM to be Paid Out Hus Year) 


a LOTTO is the No. 1 Rtme in Germany, and one of the 
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wfflbecomeina t a ntM DBoaalreethnMi^i weeks COMPLETHT FSEEl Every 5 weeks you'll be sent a list of 

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out erf 40 for each GAME you wish to 
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following ad d ress by fax or mall: 
OVERSEAS SUBSCRIBER AGENTS 

I nj on n Hii i ui l ftAfita infl pww* »«in| f >nta 

Nleiiwezijds voo iburgwal 7*6 
1012 RM Amsterdam, Netherlands 
For Fastest EntryJax (31) 206383171 




faf§q 1 .To participate in GERIIAN LOTTO, EilTDV BAD 11 $t!AO 
Cg|j ] please complete this ENTRY FORM In lull: M l 111 TwHHI Qf'KI 

mSlTO!^ FAX DRECT:( 31 ) 20-6383171 


NtenrezHdi Voarbarpral U 

1112 KM AawterdMi , Nrttartaadi 

11 18 13 14 IS IS 17 18 18 80 |||l1 12 13 14 15 IB 17 IS 19 80 
21 28 23 24 25 28 Z7 28 2B30 js|21 22 83 24 25 2627882930 
31383334353637383940 fgjai 32 33 34 35 39 37 38 39 40 
41 48 43 44 45 48 47 48 49 43 43 44 45 46 47 40 49 

1 83458789 10 fe&j 123456789 10 
11 12 13 14 15 « 17 18 19 20 |||l1 12 13 14 15 18 17 18 18 20 

21 22 23 24 85 26 87 28 29 30 tjKfcl 22 23 24 2S26272B 29 30 

31 32 33 34 36 36 37 38 39 40 Iglsi 32 33 34 35 38 37 38 39 40 

41 42 43 44 45 45 47 48 49 £5*141 42 43 44 46 48 47 48 49 


f Play up lo 10 Games a! 

once. Select and mark a 
cross IF on 8 numbers for 
Bach GAME you wish to play. 


1 2 3 4 5 B 7 
11 12 13 14 16 16 17 
21 22 23 84 25 28 87 
31 32 33 34 35 38 37 
41 42 43 44 45 46 47 
1 2 3 4 5 6 7 
11 12 13 14 15 16 17 
21 22 23 84 25 26 87 
31 32 33 34 3S 38 37 
41 42 43 44 45 48 47 


6 9 10 
18 19 20 
26 29 30 
38 39 40 
43 49 
8 9 10 
18 19 20 
28 29 30 
38 39 40 
48 40 


3 4 6 
! 13 14 15 
! 23 24 25 
! 33 34 35 
143 44 45 
3 4 6 
! 13 14 15 
>23 24 25 
! 33 34 35 
43 44 45 


• 7 B 0 10 

15 17 IS 19 20 
26 27 28 29 30 
36 37 36 39 40 
46 47 48 49 

6 7 6 9 10 

16 17 18 19 20 
28 27 28 29 30 
38 37 38 39 40 
46 47 48 49 


1 2 3 
11 12 13 
21 22 23 
31 32 33 
41 42 43 
1 2 3 
11 12 13 
21 22 23 
31 32 33 
41 42 43 


4 6 6 7 9 
14 15 16 17 18 
24 25 26 27 26 : 
34 36 36 37 38 I 
44 45 46 47 48 . 

4 5 6 7 B 
14 15 18 17 18 
24 25 28 27 26 ; 
34 35 38 37 38 : 
44 45 48 47 48 . 


Ban* bate rate *J? 

CaUnwmr W# f* 

1 -month interbank 5 Jh Sh 

Xaiaath tetarbank 5to » 

«4Hmtb Interbank 5 ^ 

IFyaarSOt 7M 7Jil 

Front* 

laMmaUMi rate fW MJ 

am owner ** 

t-BKNdb (ntatank ** 

TjMrftt bitertnqk w® 

HVytar OAT 4-54 U0 

Sources: Reuters. Bloom hero. Merrill 
Lynch. Bonk ot Tokyo. Co mmer zbon*. 
Greeirweit Montagu, Creat Lyonnais. 

Gold 

AJWL PJ*. 

XBrtca. 38425 38525 

U»dOfl 38455 385^5 +I.M 

Hew York 387U0 38630 +^> 

U^. donors per ounce, 

lngtt2ur1^aMNenYor*iirie"ki9atiddos- 

too prices; NW York Cemex Uvnei 
Source: neuter* 


olGonwiBilPtef PaTnd 9 WSSKB 


27 DRAWS 54 DRAWS 
9 weeks 18 weeks 


One Game 
Tw Games 
Four Gamas 
Six Games 


□ US$ 58 

□ US$ 116 

□ USS 232 

□ USS 348 


► Bgftt Games a USS 464 
>■ Ten Games |g USS 580 

Entry Coats ihaantallSS 
EmVVMainwfcMteyowSd»a^bn I 


□ USS 116 

□ USS 232 

□ USS 464 

□ USS 696 

□ USS 928 

□ US$1160 
2weetaiFRS 
DRAWS added 


AutomaUc Rwwwt 

Charge my Credit card to conffrue my subscription 
farther nofic e, so Iwontmtes oul on a angtedraw. 

OwnteaS^teNta A*k« » ■ BmiatCaami 
iodvanteiUieawmiMaL NktMmm jetnmn**nu+ 
Aartte fanted by Bw Su w raM ii f udinn ite. 


108 DRAWS 

36 weeks 

□ uss m 

□ USS 464 

□ USS 928 

□ US$1392 

a USS 1656 

□ US$ 2320 
4me)»Fns 
DRAWS added 


W Hwlyrttelro* 

Il M Mrtl WflteMBf 

Mdndwatt 


YPQ. fd %b to play GERMAN LOTTO. I've selected 6 numbers for each Game 
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showing the date ol my first Draw. 

□ Please chargomycrerfl card lorUSS 

□ American Express □ Visa G Mastercard □ Diners □ Euocaid 

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* Name 


City Courtly 

* Tel No. Fax. No. 

ftr FatJwJ Sarvto, charge your cndR cart art FAX AMSTERDAM BffiE£D(31)2M3W171 





Page 10 

MARKET DIARY 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 9-10, 1994 


Rate Jitters Keep 
Wall Street on Edge 


VtaAiMdsy^n 


jjThe Dow 


Compiled by Our Staff From Dispatches 

NEW YORK - U.S. stocks 
dropped as interest rates rose amid 
concern that next week's inflation 
reports will encourage the Federal 
Reserve to posh rates higher. 

The Dow Jones industrial aver- 
age closed 19.00 points lower at 
3,67426, wiping out Thursday's 

UAStoda 

slight but leaving the marker 
up comfortably for the week as a 
result of Tuesday’s sharp gains. 

The market was also undermined 
Friday by the end of a three-day 
rally in the bond markets amid con- 
cerns about possible rises in inter- 
est rates. The yield on the govern- 
ment’s benchmark 30-year 
Treasury bond climbed as high as 
729 percent and dosed Fri day a i 
726 percent, up from 721 percent 
on Thursday. 

Computer-generated sell pro- 
grams contributed to the decline in 
stock prices, according to Birinyi 
Associates, which tracked at least 
four such rounds of selling on Fri- 
day. Dealers said there was little 
fresh buying support, allowing the 
program selling to have a dispro- 
portionate effect. 

New York Stock Exchange vol- 
ume totaled 262,48 million shares, 
down from 287.75 million shares 


on Thursday. Stocks that fell out- 
numbered those that rose by 2 to 1. 

Traders said that the reports on 
producer prices for March, due for 
release on Tuesday, and for con- 
sumer prices, which will appear on 
Wednesday, will be studied for 
hints of whether the Federal Re- 
serve wiD soon raise rates again. 

“The throat is there that if the 
reports show inflation rising, the 
Fra has another tightening move 
left in its sa-shooter,” said Joseph 

DeMarco, managing director for 
equity trading at HSBC Asset 
Management. 

Declines in Caterpillar Ino, off 

116 at 117%, Aluminum Co. of 
America, down ! at 71%, and Gen- 
eral Motors Corp„ off 2% at 57%, 
pushed down the Dow Jones aver- 
age as much as 38.01 points in the 
course of the session. 

Tobacco company shares fell af- 
ter National Public Radio reported 
that five of the 13 secret cigarette 
ingredients banned From food by 
the U.5. Food and Drug Adminis- 
tration are classified as hazardous 
substances. Philip Morris Cos. Inc 
stock fen 1% co49% and RJR Na- 
bisco Holdings Carp, fell % to 6%. 

The Nasdaq Composite Index 
fell 6.46 points to 748.71 as tech- 
nology stocks such as Microsoft 
Corp., down 2% to 87, lost strength. 
A monthly report on semiconduc- 
tor orders is due on Monday. 

(Bloomberg, AP, AFX) 



Pow Jongs Awragw 

Own HOT Low unt dig. 

Indus 36S3M 3771 M3 365325 30<26—i9M 
Tram i **nm 165*17 U3Q.T1 1«7J9— 1*34 
Util 195.93 1901 1MJ4 1903 — Z1B 
Camp 19UJ1 13101 129079 130**3 —935 


St a n da rd & Poor'e faidtaw 

HW Low Class drte 
Industrials 527 JO 52049 02.53— <77 

Tram «ui 395.1 D 397.42 —iw 

utilities 155A0 152.91 ISM® -2.10 

Finance 4U0 42.93 43,18 4- QJQ 

SP 500 <5089 44551 447.10-378 

SP ISO 41 504 411 JOB 412J4 —4.10 


EUROPEAN FUTURES 


NYSE Indexes 


HWi Lew Law cue. 

Com part* 25022 24751 24028 — 1 JO 

Industrials 300.73 30534 306JB —TJ& 

Tnansp. 25369 253.0 3 25354 —157 

UfflttY 20535 20554 20500 -US 

Rnanco 30SA 207.17 20750 — 029 


NASDAQ Indexes 


Metals 


ALUMINl 

DoRonPt 
5 001 _ 

Forward 
COPPER 
Donanpe 

Forward 

LEAD 

DoftanparmdgUOfl 
Soot 4TPgl 43950 

ftrwcrd 45250 45100 

Forward 

TIM „ _ 

Don an per BWtrJcfon 
Soot 545550 544100 

WWOrd . OTZM 551AM 

ZIMC ISowW HShQfWMJ 
□anon pot metrician 
Soot wmo rao« 

Forward 95100 951.00 


Frrvfwa 
Bid Ask 


127X00 T27MH 
130100 1301 JO 
Grade) 

ibsioo m 

187100 1577 JO 


43150 434JD 
447 JO 44BJD 


543X00 544X00 
550000 550X00 


538X00 539500 
5*4000 545000 


93400 93100 
«$*» 95X00 


NYSE Mest Actives 


ChrysW 

Alrtaucn 

TdMex 

GoMotr 

Wdwtti 

McTnsBtc 

Mere k 

PhHMr 

WdMns 

Tandy 

AT&T 

BankAm 


HOT 

Law 

Last 

On* 

539b 

51 

51 

—29b 

22Vk 

21% 

219b 

+ Vb 

59 V* 

579* 

sew 

—PA 

599b 

579b 

579b 

— 7V, 

159b 

149* 

15 

+ Vb 

<999 

47U 

47M 

+ 196 

30<A 

299b 

Z7YT 

+ 9b 

SO’A 

491A 

49 Wt 

—1 

2Mb 

259b 

259b 

— 9b 

349b 

339b 

34 9k 

+ 1*4 

509b 

50 

SO Vb 

— 9b 

419b 

409b 

4D)b 

— Vb 

619b 

609b 

609b 

—9b 

AVb 

6 

6W 

—14 

179b 

159b 

17 

— 14 


InduxirUs 

Banks 

Insurance 

Finance 

Transn. 


73X48 74122 
791.90 7B556 
<77.96 <7123 
890.28 08X70 
H79.42 87737 
74126 740.18 


74149 —148 

7BLSO —101 

B7JS2 + 053 
B89X1 +1.62 
H7131 —0.99 
74*36 — 150 


AMEX Stock Index 


NASDAQ Most Actives 


Hosokawa Resignation 
Leaves Yen Unscathed 


W*trtf>b 

coticpi 

McCoy* 

rKm 1 

DrfCptr 

NowB* 

SunAUc 

SoukSCph 


HOT 

LOW 

Last 

dig. 

2296 

219b 

2294 

—9b 

90 

669b 

87 

—294 

20'A 

1994 

20 

—94 

71 

6094 

6994 

—194 

1094 

9*4 

99b 

—19b 

129* 

111* 

llto 

—79* 

2514 

239A 

259* 

—9b 

40 

6794 

479b 

—9b 

35*4 

339b 

349b 

-4b 

30 Vb 

2814 

299b 

+ 9b ■ 

17Vb 

259b 

17 

2494 

1794 

24M 


494 

3"fu 

<Vu 

— «u 

2514 

24 

Mtot 

—Mi 

61 Vb 

5Mb 

60Vw 

— v» 


Msb Low Last cha. 

442.99 44031 <41.21 —055 


Dew Jones Bond Averages 


20 Bonds 
10 Utilities 
10 industrials 


NASDAQ Diary 


tom issues 
NmWn 
Now Lows 


1353 1733 

1715 1373 

]904 1865 

4972 8971 

38 35 

703 06 


Financial 

HOT Low Owe Change 

USOHTH STERLING (UFFC3 
SOUH-rtmMdpd 

j— 9*54 9450 9451 + OD1 

Sep 9433 9438 9430 Uljfl. 

rwr 9403 93JB 9199 —Ml 

Mcr 9163 9350 9339 — MI 

jSi 9119 9113 9114 -Ora 

S 9280 9274 9173 -M3 

Dec 9145 913F 9140 —AM 

9120 9115 9117 — M3 

SET 91.98 9106 9106 -0® 

Sep 9L82 9180 9U80 —M2 

rgc 9154 9181 9181 -M2 

■SS- 9188 9188 9187 Until. 

Est. volume: 23800. Open inf.: 47X711 
MAO NTH EURODOLLARS (L1FFE1 
SI mflHoa - uts at ICO pet 
JM 9557 9584 9554 Urctu 

Sm 9381 94.97 94.98 +081 

£ 9*38 94J8 908 Until. 

5£ 9*16 94.16 94.15 +084 

TS ut NT 9384 +084 

iS ":t: +8S 

^!st. volume: 187: 171 9861. 

3-MONTH EUROAAARK5CLIFFR1 
OM1 million - pis of ISO PCI 
jim 9456 9453 9455 +082 

cS 9483 94B0 9481 Until. 

Dec MS9 94.96 94.97 Until. 

r sts %% =&£ 

SS $£ S5 S3S +8E 

Mp 9452 9488 9488 — 081 

jJST 9*32 9489 9429 —081 

Sp 94.14 9412 9412 Until. 

Dee 9197 9196 9196 +081 

HOT 9X00 9379 9179 +082 

Est. volume: 49851. Open Int: 935861. 
3-MONTH PI BOR IMAT1F1 
FFSmlinM-PtsaflOOPa 
Jm 9410 9486 9407 —081 


Compiled by Our Staff From Dispatches 

NEW YORK — The dollar 
fftitiwil marginally against the yen 
on Friday m spite of the resigna- 
tion of Japan's prime minister, 
MorOriro Hosokawa, but failed to 
hold onto Thursday’s strong gains 
against European currencies. 

The dollar ended at 105.255 yen 
on Friday, up slightly from a dose 

Foreign Exchange 

at 104.90 on Thursday, but slipped 
to 1.7125 Deutsche marks from 
1.7170 DM. 

Against other currencies, the 
dollar closed at 1.4454 Swiss 
francs, down from a close on 
Thursday erf 1.4473, and fell to 
5.8655 French francs from 5JT770 
francs. The pound rose to S1.4768 
from $1. 4730. 

Dealers said that the yen re- 
mained under pressure against 
most major currencies but comfort- 
ably absorbed most of the selling 
after the Hosokawa announce- 
ment 

“It seems that Japan changes 
governments every other day,” said 
Tim Cunningham, a trader at 


American Express Bank. “People 
are getting used to these things.’' 

Greg Jones, a MMS Internation- 
al analyst said that the rafatraol 
impact on the yen was “ample testi- 
mony to the underlying trend that 
remains in its favor.” He said that 
the tinflar mi ght rise 85 high as 
10650 yen but that Japanese ex- 
porters would be likely to sell into 
such strength and moderate any 
further dollar rise. 

U.S.-Japanese trade has been the 
focus for currency traders since 
early last year, when members of 
the Clinton administration said a 
strong yen would reduce Japan’s 
trade surplus. 

“Trade talks won't move any 
faster as a result of Hosokawa' s 
resignation,” said Tom Benfer, for- 
eign exchange director at the Bank 
of Montreal. 

Dealers said that the dollar's re- 
cent gams against other leading 
currencies were also vulnerable and 
that investors mi gh t sell the dollar 
if it fails for a thud time to break 
through the key barrier of 1.7250 
DM. Some analysts said it could 
fall back to test chart support at 
1.7020 DM. (Bloomberg, AFX) 


AMEX Most Actives 


HrtgMd 

EchoBdy 

SuiCUS 

JanBoR 

IvaxCP 

ArrxN 

EnLA 


Market Seles 


VaL HOT 

Law 

Last 

OlB. 

9069 1794 

17 

17 

_ 

5426 129b 

12 

12W 

— Vb 

<104 39b 

3V4 

39b 

+ <A 

3515 694 

6 

694 

+ Vb 

3236 259b 

24 

249b 

— 1 

3068 79b 

6Vb 

69b 

—9b 

2956 1IA, 

1 

lVl« 

— Vu 

2907 1894 

1BV4 

109* 

+ Vb 

2867 2014 

1914 

199b 

+9b 

2777 36 

359b 

359b 

-94 



Today 

Prov. 


4 PA. 

cons. 

NYSE 

36248 

34X30 

Amex 

1481 

1983 

Nasdoa 

26281 

28489 


Spot C om modf tf— 

Commodltr Today Pm. 

Aluminum, lb DAB 0579 

Coffee, Braz. lb U7V5 0785 

Owner etectratytta lb Ml M2 

Iran FOB. tan 21100 21100 

Lead, lb 0J4 0.34 

Silver, fray at 387 587 

Steel fscrapl, ton 136J3 1303 

Tin. lb 14515 353 

Zinc, lb 08437 08418 


Certain offerings of secondes, financial 
■ mi ca or baeteM hi red cue pabfiibsd bi 
till newspaper an not authorized Id cauin 
j wM a lcns to nh kb the bmn u tie aO HersM 
Tribune ta distributed, including the United 
States of America, end do mot eooMilmte 
offerings of securities, sendees or iin i iuu Jn 
these Juiisdicilces. The lotenurional Hendd 
Tribune i nw i in no tapn n ribfllfy wbnoefer 
ftyys d wt i s eiii esBfcriiflWiigsofwylasL 


9486 

9*07 

— 001 

9*30 

901 

Urtch. 

9487 

9*48 

—003 

9*57 

9*59 

am 

9452 

9*51 

— 0D7 

9*36 

9*36 

—003 

9*15 

9*15 

— 004 

9*00 

9*00 

—00* 


Eat. voftime: 4X346. Open Int: 2JT8T4 
LONO OILTILIFFB) 

(SUM - pts a antfi of 180 Pet 

Jm 1884)4 107-04 107-05 —045 

Sm NLT. N.T. mm -0-25 

EsL volume: 61851. Open Int: U4743. 
OERMAH GOVERNMENT BUND (UFFE1 
DM 23UN ■ oti of IN pet 
Jm 9755 9657 9670 — 0L15 

Sep 9688 9642 9659 —115 

EUL volume: 7V JOB. Open Int: 20X864 
10-YEAR FRENCH GOV. BONDS CMATIFI 

Sr m -W&33 123.18 —628 

SM 12286 122.48 12284 — OJB 

Dec 122.16 12280 12174 —028 

Est. volume: 160161. OPM hit.: 14L37Z 


Industrials 

Hloh Low Lot seltfe Ctrto 
GASOIL (IFE) 

U5. deltan per metric toiHMs of W ton 

APT 14675 14580 14673 14675 Until. 

MOV 14X50 14230 14380 14380 —175 


hot Law Last Settle Orta 

JOB 14100 14275 1A2 1*® — 

M 14130 14275 14380 M380 — JJg 

jSa 14580 14475 14450 14430 — W 

SM 147 JO 14780 M7J0 M675 — 1J0 

Oti 149 JO 149 JO 149 JO 14975 — J-23 

a W W W ISjS =5S 

Elt: ilt: n.t; USS 

Est velum* : 14236. Open hit 11X681 

& )iZ IS IS 

jS 1 1*80 1427 1435 1435 — 007 

Am 1487 1437 1482 1443 -7 M3 

™ ii b u*s 1453 14S7 +083 

Oti 1465 1455 1465 UM +UO 

tSt U65 1465 1465 1475 +0J3 

rw UJ3 l3S 1*75 1-U2 +M3 

S' 1483 14J5 148S 1580 + 084 

Est. volume: 31792 . Open fait. 163702 

Stock Indexes 

HOT Low C1e« Choose 
FTSE 100 CLIFFET 
125 per Mex paint 

Jm 31458 31078 3121 J — KJ 

Sen N.T. N.T. 31398 — T7il 

5S: N.T. N.T. 31518 —168 

Est. volume: 7J2L Open Int.: Sal31. 

cAcaiMATin M 
f fm o ixr index Paiitf 

Apr 214080 211480 211980 -+TZB0 

Muf 2137 JO 211680 212080 -+1280 

JM 211980 2BS^0 210380 -+1280 

Sep 2123-59 211630 212080 W-1280 

Dec N.T. N.T. ZTSIJffl -+ IZffif 

Mar N.T. N.T. 71 7080 -+1280 

Est. volume: 2flJS1.0oen tat: 73864 
Sources: Mall/, Associated Press, 

London Inti Financial Futures Exchange. 
Inti Petroleum Ex c hange. 

Dividends 

Company Per Amt Par Rec 

IRREGULAR 

Dreyfus A Bets Plus _ 8S2 3-31 « 

Excelsior Inca _ j] +22 +29 

STOCK 

Quest MKOcal - 3% 56 5-23 

REVERSE STOCK SPLIT 
Aut0a5ticnce incl for 2 reverse spill 
INCREASED 

UNUMCorp a 84 +25 5-20 

INITIAL 

WS Bancorp - 875 +15 +30 

REGULAR 

Q .15 +29 5-13 
Q 83 +15 M 
M 897 +15 +21 
O -575 +18 +29 
Q 84 +22 5-13 

S .125 +22 +29 
86 +15 +26 
G 84 4-29 5-16 
M 875 +15 +29 
Q .15 +22 5-13 
M .10 +15 +29 
Q 85 +18 5-2 

Q .« +19 +29 
Q .17 +15 5-1 
Q 83 5-Z7 6-10 
M 868 +22 +29 


U.S./AT THE CIOSE 

Economic Growth 'Running Near 5%* 

WASHINGTON (Bloomberg) —The U.S. ewnwn/s 
approach a robufii 5 percent danng the current quarter, the Conference 
Board, a business research group, said Friday. 

For the year, the economy should expand by 4.2 percent, up from a 3 
percent riselast year, that wifi be foDowed by a 4.4 percrat mcnase m 1995, 
according w the economic forecast of the New ^ Yoric-b wed m wnch is 
funded by large corporations. The inflation rate should n fflfl ste ady at 2.7 
percent this year and then rise to 3.7 percent in 1995, the group saw. 

The economy grew at a 7 percent rate in the last three months of 1 993, 
the strongest quarterly showing in a decade. Most economists doubt that 
such a lag gain mil be repeated anytime soon. 

Ford Set to Name Buyer for Thrift 

DETROIT (Bloomberg) — Ford Motor Co. is expected to announce 
next week the sale erf its unprofitable First Nationwide Financial Corp. to 
one of three bidders, sources dose to the negotiations said Friday. 

Ford, which has been trying to sell the San Francisco-based tkift smee 

sources sai iFF" rs^Nation wide^as about $16 bflbon in assets, 
but has suffered SI 99.4 miHkra in losses since 1990, including a S55 
milli on loss in 1993, and has more than $1 billion in delinquent loans. 

Last month. The Washington Post identified one of the bidders as 
Gerald J. Ford, an investor who heads Madison Financial Inc. of Dallas. 
Also bidding for First Nationwide is Great Western Financial Corp„ a 
Los Angeles-based thrift that is one of die nation’s largest Golden West 
Financial, based in Oakland, California, also made an offer. All three 
tads are believed to be about $1 billion. 

Higher Sales Pash Up Abbott Profit 

NORTH CHICAGO, Illinois (AP) — Abbott Laboratories said its 
first-quarter profit had risen 6 percent, largely due to increased domestic 
sales and stronger sales of drugs and nutritional products. 

Abbott reported net income of $366 2 million, or 45 cents per share, for 
the three months that ended March 31, compared with $345.5 million, or 
41 cents a shar e, in 1993. Sales rose 8 J percent to $7-2?. billion from S2.05 
billion, Abbott said. 

Sales erf pharmaceutical and nutritional products rose 13.1 percent to 
S1.2 bfflion, Abbott said. Domestic sales climbed 102 percent to S1.4 
billion. Abbott's nutritional products include Advera, a product for people 
with AIDS or infected with mV, the virus that causes AIDS. 

Lokens Sees Loss Link ed to Weather 

COATESVILLE, Pennsylvania (Bloomberg) — Lukens Inc. said Fri- 
day that it expected to report a first-quarter loss of 20 to 25 cents a share 
because severe winter weather had unpaired steel production and delayed 
shipments. Some analysts had expected a profit 

Lukens, the leading North American producer of alloy plate and a major 
producer of stainless sted pnxiucts,saifliwrati snow ana cold bad cost the 


To Our Readers 

Because of an error in a currency 
calculation, the April 5 and 6 val- 
ues of the Latin American compo- 
nent of the Trib Index had to be 
revised downward. The values of 
the overall Trib Index for these 
dates were also slightly revised. 

The graphs appearing in this edi- 
tion reflect these revisions, as will 
the weekly graphs in Monday’s edi- 
tions. 


But he said Lukens expected the second quarter to be an improvement, 
because productivity had rebounded, its backlog of orders was “rapidly 


Excluding chaige^^^e^ramed^^ttfa share in the first quarter of 
1993. Its net loss after charges was S59.7 million, or S4.07 a snare. 

For the Record 

Canada’s jobless rate feM half a point in March, to 10.6 percent, its 
lowest level in more than two years, the government reported. (AFP) 
Chase Manhattan Cotp. said that it had agreed to purchase an equity 
stake in New York’s only minority-owned bank, New York National 
Bank. (Bloomberg) 


GREEN SPAN : Fed Officials Take Some of Chief’s Rate-Setting Powers TELECOM: 2 Seek Stake in Stet 


Continued from Page 9 
ents of the Fed's 12 regional 


The committee has made other 
changes in response to congressio- 
nal demands for more openness. 
When the policymakers raised rates 
Feb. 4 ana March 22, both actions 
were anno unced at the time. 

That was a significant departure 
from the Fed’s tradition of saying 
nothing at aU and letting Wall 
Street try to figure out what had 
happened. 


The press office at Federal Re- 
serve headquarters in Washington, 
asked for comment from Mr. 
Greenspan, did not provide any. 

Whatever the reason for it, the 
new practice is more in line with 
central bank practices elsewhere. 

In Germany, for example, the 
Bundesbank acts on interest rates 
when its members meet every other 
week. Under the Fed’s new proce- 
dure, if no rate change comes forth, 
the public and the credit markets 
could assume that none would take 


place until the next meeting, six or 
eight weeks away, unless an emer- 
gency arose. 

Speaking mostly off the record, 
several policymakers said in inter- 
views that there were no formal 
rules to prevent Mr. Greenspan 
from acting between meetings. 

They dismissed as unfounded 
speculation that they were seeking 
greater control over policy or 
farad that Mr. Greenspan had 
grown too dose to President Bill 


Clinton and might be reluctant to 
push up interest rales. 

There has beat friction in the 
past between Mr. Greenspan and 
some regional bank presidents. 
Some of it dates from the spring of 
1991, when the U.S. economy was 
weak and the Fed was pushing 
rates down to encourage borrowing 
and spending. 

More than once around that 
time, Mr. Greenspan lowered rates 
on his own, without consulting the 
regional bank presidents. 


Continued from Plage 9 ‘ 

investing together. For Pirelli, 
teaming with Alcatd would show 
IRI officials and the European 
Commission “that it’s not tning to 
freeze out its competitor’' in cables, 
said Philip Ayton, who follows Pir- 
elli for Barclays de Zoete Wedd in 
London. 

For Alcatd, Mr. Barton said, 
linking with Pirelli “would give it 
an Italian flavor" from thepaspec- 
tive of the Italian government, 


which regards the phone company 
as a national strategic asset 

On an operational level, such an 
investment could lead to Pirelli 
forming a venture with, or absorb- 
ing, Sirty, a subsidiary that special- 
izes in able installation. 

Alcatel is increasingly showing 
its int&est in becoming a provider 
of tdecommnnications services, 
though Mr- Suard has said he 
would not move in that direction if 
it would turn Alcatel into a com- 
petitor of its customers. 


1^ 


mtors 


MY! 


WORLD STOCK 

Agra Franca Prana April 8 


U.S. FUTURES 


Season Season 
HOT Low 


Open Mad Law Close Cha <fe.M 


Season Season 
HOT Low 


Open tWi Law Case Cha OaJnl 


Via Awodowd Pm> 


Amsterdam ] 

ABN Amro Hid 6680 6X90 
ACF HoMtna 4880 4U0 
AHHI 9930 9980, 

Ahow 49 4B30 

Aba NabH 21380 216 ; 

AMEV 7660 7450 

Bab-Wmonen 41 JO 4[j» 

csm mm mm 

OSM 129 12120 

Elsevtor 1*9-60 167 JO 

Fokker 1760 1750 

Gbt-Bnxndcs 5280 5220 
HBG 335? 309 

HeJnefcan 223J0 225 

Haogovwn 60 5?80 

Hunter Doustas BI «uo 
IHCCafamd 4060 080 
Inter Mueller 0180 BUD 
I nil Nederland 82.10 BiJO 
KU* 50 4B50 

KNPBT AUt 4980 

Medllavtl 7280 61M 

OceGrinten 0493 8380 
PaUmed s i® sus 

PtllUM 5430 5390 

Polygram 7720 7 *jo 

Robeco 12*«J 12480 

ROdamco <080 60 

Rallneo 12450 12*80 

Rortftfo 9480 9480 

Royal Dutch 20080 19660 
Stork 47 JO 47.48 

Unilever 19980 19950 

vanommenm so© 5&20 
VNU 100 17B 

Watters/ Kluwer 11360 11X10 


Helsinki 

Amer-YMvma 130 127 

Enao-Gutmr 39.10 3? 


HuMnmakI 

icop. 

Kymmene 

Metro 

tWda 

Poll lola 

Repo la 

Stockmann 


190 19B 
12.<®3 12J® 

no 112 

198 194 

411 403 

90 89 

90 9® 

320 305 


Hong Kong 

32J5 
11 
4050 
41 

1180 
1480 

52 


EOE Index : 41559 
Prevtm:4lZA 


Brussels 

AG Fin 
Arted 
Banco 
Befcaert 
Cockerlll 
CObepa 
Dethalze 
ElectroM 

&Fl 

C WB M l 
KnKflBttKHlk 
Petnuflno 
Poeterfln 
Royal Beige 
Sac Gen Banaue 
Soc Gen Beta tout 
Satina 

rarewT 

TracteOd 
UCB 

Union MMere 



AlrUauMe 
Alcatel Abthom 
Axa 

BaKalre (del 
BIC 
BNP 

Bouvwee 
BSN-GD 
Carretour 
CJCJF. 

Cervs 
amnin 
aments Franc 
aub Med 
EH-AquiMne 
EH-Sanotl 
Euro Disney 
GefLEoux 
Havas 
1 metal 

Lafarge Coonee 
Lesrand 
Lyon. Eaujt 
orealIL*) 
L-VJ4H. 
Matro-Hochetto 
MictiellnB 
Moulinex 
Partxa 
Pechlney Inti 
Pernod-Rtcord 
Peugeot 
Prtnfemin (Aul 
Radloftechntawo 
Rh-PouRncA 
Raff. St. Louis 
Redoirie (La) 
Saint Goboin 
S£.B. 

Ste Generate 
Sues 

Thamson-CSF 
Total 
UAP. 

VNto 


Amcor 

ANZ 

BMP 

Boral 

Bougainville 
Coles Myer 
Comalco 


Sydney 

950 952 
478 482 
1490 1684 
3J5 X74 
Mile om 0^ 

rer 4J8 

435 SM 
16.90 1680 

467 466 

Fosters Brew 1.17 1.19 

Goodman Field 156 158 

IO Australia 1056 1050 

Magellan ZOS 2 

MINI 3 3 

Nat Aust Bank 1158 1160 

News Cora 9.13 986 

Nine Network 580 5L25 

N Broken HR1 X42 360 

Pac Dunlap mb 5.12 

Planner Inh 297 297 

Nmraty Poseidon 287 289 

OCT Resources 181 182 

Santas 192 199 

1 TNT 289 288 

Western Mining 684 7.13 

westaac Banking 469 466 

Waadstde 433 481 

^sss^sr >:amuo 


Tokyo 


Frankfurt 


AEG 

AIDomHoW 

Altana 

Aska 

BASF 

Bayer 

Bay. Hypo bank 
Bov Versinsbk 

nor 

BHP Bank 
BMW 

Commerzbank 
Continental 
Daimler Benz 





Johannesburg 

AECI 21 20 , 

Attach 9150 93 ! 

Anglo Amer 19650 190 

Barlows 27 JS 27.75 , 

ISIwvoar 950 NJL ' 

BuftafS 44 NA 

De Beers wo tos 

Drlefontaln 52 5250 : 

Gencsr flJTJ 880 

GFSA 97 97 

HOTrMkfsteel S8 

tCkxrf 45 4450 

NedbanftGra 26 25JB 

Randtonteln *6 46 

Rusal ot 06 BS 

SA Brews 7950 80 

St Helena 47 NA 

Sasol 2150 2150 

Wrikom 38 46 

Western Deep 17750 175 

CBmpaNte Index: 49228S 


Sao Paulo 


Madrid 


BBV 3220 3160 

Ercras 159 155 

Iberdrola I 997 1000 

Rtsst 4460 4495 

Tabocolero 3W U40 

Tele ton Ice 18® dbs 


, Banco do Brasil 
BanesoQ 
B radosc o 
Brahma 
Parammanema 


10 2481 
1281 I1JU 
15JO 23 
232 225 
22 20JO 
131 124 

40.15 30JO 


40.15 3170 
ywe Rio Doe* 11650 112 

Vartg 16016499 


Bgnmpxnm 

Benetton gram 
CIR 

Cred Hal 

EnkJyem 


London 


DfBobOOCk 27627950 

Deutsche s™* BID sm 

Dauda W1 SO 

Dresden r Bank 420 415 

FeWmuetile 338 346 

F Knap Hoad) 215 215 

Haraencr 357 3S3 

Henkel , .06 .640 

HocMM HOT 10*0 

Hoechst 341 341 

Halztmmn 95 945 

Horten 243 238 

1WKA 417 413 

Kali Salz 14214450 

Knnladt 565 567 

KauNtof 513 511 

KHD 142.5013850 

KtaedmerWerke 1« 140.10 

Linde B7D 162 

Lufthansa 2065020gJD 

MAN “ ~ 

Matnesinm 
Metal hweii 
MuenchRueck 
Porsche 
Prsuuog 
PWA 
RWE 

Rhe Inmetal I 
Sdtsrlng 
SEL 
Siemens 
Thysson 
Varta 
Veto 
VEW 
Vtag 

VaUumagen 
wet la 
DM.WexjssWJS 


Abbey Natl 
Allied Lyons 
ArfOHtaafns 
Argyll Group 
AssBrtl Foods 


Bank Scotland 


m 1JU 1-74 

Blue Circle X1S 125 

BOC Group 780 7.17 

BOMS 5J0 587 

Bawdier 453 466 

BP 172 172 

Brit Airways 423 421 

Br f Gas 
Brit Steel 
Brtt Telecom 
BTR _ 

Cable Win 
Cadbury Sett 
Caradan 
Coats Vlyella 
comm Union 

Caurtaulds 

ImSSTon 

Eurotunnel 
Fbans 
Forte 
GEC 

C enl A cc 
Glaxo 
Grand Met 

GRE .-v .-j 

Guinness 479 450 

GU5 685 6.13 

Hanson 261 262 

Hllisdowm 1.77 187 

HjfiCHMn 77? 7J2 

IC1 8.13 111 


Ferfln RIsp 
F lat SPA 
Fkimeamlca 
GenentU 

IFI 


Wm 


Hoioas 

noftnabmare 

Modlolxxx» 

Montedison 

Oltvettt 

PlreHl 

Rtaoscetite 

SglMfll 

San Paolo Torino 

Sip 

SME 

Snla 

Stonda 

Stet 

Ton Asst Rio 

RUSTir 


Montreal 

A loon Aluminum 30% 31* 
Bonk Montreal 26VS 2t% 

KUiSSSS? B & ^ 

EET % % 

Dominion Text A 7% _7W 
OonohueA W* 23% 

MCCMUIan BI » 3 

Noil Bk Canada JM m 


Singapore 

CetWbas 780 7.10 

QtyDev. 7.10 7.15 

DBS 1180 1180 

Fraser Neove 1760 1780 
GenTtns worn 1680 

GOKtan Hope PI 2.TI SM 
Haw Par 386 3.18 

Hume Industries 480 474 

KeppsT* 9.90 9J» 

KLKsPong 276 2J\ 

Lum Chons 155 156 

Malayan Banka B50 B55 
OCBC 1189 112 

OUB TM 738 

OUE 7.10 7.10 

Sctnbawgng 1L10 n 
Shanarila 4B6 4M 

Slme Darby 162 366 
SIA 780 7 JO 

swe Land 475 465 
Star* Press 1380 1380 
Sing Steamship 362 350 
Stare T o le c o mm 386 356 
Straits Trading 130 388 
[JOB 1060 1040 

UOL 187 183 

& :7m * 


Stockholm 

AGA <10 <15 

Asea A 607 MO 

Astro A 164 143 

Atlas Copco 508 sm 

Electro tax B 387 383 

Ericsson 357 390 

euetto* no in 

HtmMfeankan 116 117 

Investors TB4 T79 


Akal Electr 
Aadil Chemical 
Asahl Glass 
Bank of Tokyo 
Brldgestorte 
Canon 
Cask) 

Dal Nippon Print 
Dal wo House 
Dahra Securities 
Panne 
Full Bank 
Full Photo 

Fujitsu 

Hitachi 
Hitachi Coble 
Honda 
ItoYokoda 
Itochu 

Jtxm Airlines 
Kalbna 

Kansal P ow er , 
Kawasaki 5ted 
Kirin Brewery 
Komatsu 
Kubota 
Kyocera 
Matsu Elec Inds 
Matsu Elec Wks 
Mitsubishi Bk 
Mitsubishi Kasel 
Mitsubishi Elec 
Mitsubishi Hev 
Mitsubishi Carp 
Mitsui and Co 
Mltsuiuntil 
Mitsumi 
NEC 

NGK Insulatars 
Nttkg Securities 
Nippon Kosnku 
Nippon oil 
Nippon Steel 
Nippon Yusen 
Nissan 
Notnura Sec 
NTT 

Olympus Optical 

Pioneer 

RKoh 

Sanyo Elec 
Sharp 
Shlmoni 
SySnetsu Chem 
Sony 

Sum Homo Bk 
Sumitomo atom 
Suml Marine 
Sumitomo Metal 
TOtsdCarp 
TaOTo Marine 
Takada Chem 
TDK 
Tell In 

Tokyo Marine 
Tokyo EHc Pw 
Tonaan Printing 
Tprcry Ind. 
Toshiba 
Toyota 
Yamaldil Sec 
a.-jrnn 


Cantor 

Cara 

CCLIndB 
clnoptex 
Com Inca 
CanwestExpl 
Denison MlnB 
Dickenson Min A 
Datasca 
Dvlex A 

Echo Bov Mines 

Eauffv Silver A 

FCAIntl 

Fed Ind A 

Fletcher Chan a 

FPI 

Gcntra 

GoldCorp 

Gulf Cda Res 

Hoes fntt 

HemloGM Mines 

Homnper 

Horsham 

Hudson’s Bay 

Irranco 

Inca 

Inlerpruv atOS 
Jannoctt 
Laban 
LobtawCa 
Mackenzie 
Magna Inti A 
Maple Lea! 
Maritime 
Marfa Res 
Mac Loan Hunter 
Motion A 
Noma Ind A 
Norm da Inc 
Norancta Barest 
Narcen Energy 
Nthem Telecom 
Nava Cora 
Oshawa 
Poaurln, A 
Ptacer Dame 
Poco Petroleum 
PWA Cora 
Ravrock 
Renaissance 
Rogers B 
RflfhmcxH 
Royal Bank Can 
Sawtre Res 
Scott's Ham 
Seagram 
5amCan 
Shell Can 
Sherrltt Gordon 
SHL Svstemhse 
5outham 
Spm-AerasaaCB 
Stolen A 
Talisman Energ 
Tock B 

Thomson News 
Toronto Doom 
Torstar B 
Trtmalta Util 
TransCda Pipe 
Triton Flnl A 
Trlmoc 
Trliec A 
Unicom Energy 

jsxsmir 


Season Soman 
HOT Low Open 

HOT 

Low 

Ooie 

Cha 

aunt 

1 


Grains 




WHEAT (CBOT1 SpeDteimMnnm-f 

ManurlwM 



177 

350 Mayta 381 

3JOU, 

139V* 

380V*— 004 

13.162 

356 

IW JuJta 333W 

135V. 

X31Vb 

133 

— OiDV. 223BB 

3571b 

382 Septa 136 

3J6te 

133 

3351b— 002 V, 

5810 

X6S 

359 Decta 384 

385 

141 

142V* -003 

*139 

356W 

134 Md-95 185 

145 

383 

143 

-OJB W 

273 

335 

3.16 V, May 93 



380 

-005 

1 

38294 

111 Jul« 330 

130 

126 

127 

— 0M 

fir 

1 Eft. sates 12800 Thu'S. Ides 17,902 




1 Thu's men to! *7840 off 1261 





1 WHEAT CKBOTj UOtbunMiwn-MnPorbiiiti* 



2JTO 

25t Mavta 3801* 

141 Vb 

1371b 

139 

—003 

7822 

355 

257 Julta 1321b 

133V. 

130 

371'b-OBHb 12882 1 

1S5H 

3521b Septa X34 

1341b 

131 

33i»-a<ov* 

38«4 

360 

112V, Decta 1301b 

uw 

U6Vb 

337V* — aim* 

1803 

15314 

322 Mar 93 



130V*— 0021* 

327 

EsL sates NJ* Tito's, sdes 






Tito's open Ini 2S87B off 11* 





CORN 




3.16’A 

238 V, MOV W 2J4VV 

275 

173 

274 

-001 

15860 

XI6VV 

281 Julta 277 

2381b 

176 

177Vb~400V* 124,1 16 { 

X92V4 

28DW Septa 2861b 

287V. 

165 

246Vb-U»Vb 27789 

2J394 

256 Vb Decta 256% 

2581b 

255% 

257V* 


17806 

2J9W 

2531b Mar 93 Z82Vb 

X65 

283 

283>l +050V. 

*708 

282 

28* Vb Mar 95 286 

288 V. 

266 

148 Vb +050V* 

412 

28314 

280 Jd« 2881A 

170V. 

267V. 

170 

+001 

1J71 

Urib 

2871b Dec 95 2461b 

250 

286V. 

150 

+ 0571b 

994 

Esf. sates 35800 Tl«rs.sdas 39895 




TSuTs, open W 322J64 id <00 





SOYBEANS (CBOTJ AflOObuirMriiiin-dDacnperlHiM 


751 

552 V, Mav 94 653 

*60 

652 

*57V* +0O2V* 4*taS 

750 

554 Vb JulW *53 Vb 

*59 

65014 

6561b +052 

0823 

755 

658 AugM 680 

*524* 

684V. 

650V* +0J1V* 

9845 

tom 


*35 

*37 

632 


5815 

757*1 

555V, Nov 94 *17 

019 

*12 

L1M-0B1V* 3*823 

*70 

*llVbJan95 *71 W 





6JM 

*27 Mar 93 658 

*38 

*24 

*27Vb-0Brib 

617 

070 

*30 MOV 95 *28 

*79 

627 

679 

-003 

59 

*75 

*31 Jul«5 *33 

*3JVb 

*30 

*3i4*-an2v* 

418 

6501b 

581 Vb Nov 95 195 

016 

MW 

594 

-050Vj 

1,129 

Esf. sates 52800 Thlrt. sdes <2,174 









SOYnUNMEAL (CBOT) »m-, 

MMrm 



23280 

1 8470 May ta 18780 


18*90 

loua 

+140 22578 

23000 

1SU0JUIM 18780 

18980 

18750 

11970 

+170 31771 I 

22380 

18580 AUO 94 18*50 

18750 

18950 

WJO 

tlJM 

98<8 

21000 

18*80 SOP 94 18120 

18*80 

18*20 

10X80 

+060 

7548 

20*00 

1*220 Oct W ISXOD 

18180 

11270 

18180 

+040 

*02 

20980 

*60 Decta 18240 

18290 

11150 

1B80 

11847 

20000 

18150 Jm 95 18270 

1BL8D 

181 JO 

18240 

+ 070 

1554 








19350 

18158 MOT 95 18*00 

18*40 

11450 

10480 

—060 

220 

U0OO 

1(650 JUK 



18550 

—150 

72 





1 Thu's open Wf 88847 off S 






1 SOYBEAN OIL (€XOT) (000 

■w-dd 

nparTniN. 



3045 

TTJOMoyta 2788 

2752 

2773 

27 JT 

—071 2*121 

29J0 

7l55Julta 2780 

2765 


2770 

-019 27559 

2950 

21 85 Aug 94 27.10 




—073 10515 

2080 

2280 Sep M 2*75 


3*55 

2640 

-070 

9846 

2780 

2X.10OctM 2550 





7555 

2755 


2X36 

2XQ5 

2X11 

—074 1*190 

2*15 

2265 Jan 9S 25.15 

2530 

2456 

2X01 

-076 

1889 

2685 

2550 Mar 93 2555 

2110 

2*95 

2*90 

-025 

267 

2680 

2V IB MOV 95 2552 

2X10 

2495 

2*95 

-071 

114 

3*40 

25.10 Jut 95 2552 

2505 

2*87 

US J 

—032 

SI 

1 Est sates 15800 Thu'^sato 





nartos 

ten Inf 9X512 an 18 







Zurich 



Boss’s®; r 


Toronto 


Donohue A 2» 23% 

MCCMUIan W m » 

Natl bS Canada WJ 

Power Corp. 2MJ TBk 

S* mi S3 

Qtatagr a 30«l 20ta 

UnJhra 0 ** 3 

VMeotnxi MU 14M 


Unhw 

VMeotnxi 


Norsk Hydra 

SondvOcB^ 

SCA-A 

S^Bontum 

Skondlo F 

Skgnska 

SKF 

Stara 


m 229! 
119 117! 
121 120 
132 134 
56 57 

156 156 

1B1 1B3 

153 150 
<00 414 


TraUcborg BF 9450 9450 

Volvo 673 660 


AMttai tales 17+, m» 

Aon ICO Count 17 17 

AlrGonqda m m 

Alberta Energy 20W 2D 

Am Barrick Res 33 32* 

BCG 50 SOIL 

Bk Nona Scotia 28 27W 

BC Gas 1SH 15*b 

BC Telecom 244b 24VS 

BF Reatry Hds nm 004 

Bremotog 088 085 

Brunswick 946 946 

CAe 74b 7lb 

Gamdov 490 415 


50 SOU 
28 279b 
15Jb 154b 
244b 24W 
004 004 
088 085 
946 946 
74b 7li 
490 495 


To wibjofto in Franco | 

just cal), kill frag, 

05537537 


Livestock 


8275 

7178 Apr 94 

7787 

77.98 

TTS 

7787 

+030 16827 

7577 

71 75 Jun 94 

7*37 

7*70 

7*27 

7*60 

+023 30860 

7187 

7070 Aug W 

7162 

7285 

7155 

7280 

+023 12.906 

7*10 

7157 CM « 

7165 

7385 

7157 

7177 

+015 1025*4 

7*30 

7275 Decta 





♦003 


7475 

7100 FePtS 


7340 




1811 

7110 

TUBAnrtS 

74170 

7*77 



+ 017 

212 

Est sake 







mi's open Int 75817 

Off 1015 





FEROnCATTUi (CMBO 




1550 

7970 Aorta 

8150 

8147 

81 JB 

8180 

+043 

2.975 

8440 

7170 Mayta 81 JB 

8185 

SUB 

8140 

+03S 

38V 

1060 

7985 Aug W 


81.95 

1187 

8195 

+033 

3-330 

8170 

79 J8 Septa 


61X7 




545 

<175 

TVJOOcfta 


<!JS 



+0JB 


8850 

778SMivta 

8140 

IT 92 

81 8S 

BI .72 

• 032 

2B8 

8090 








Est. sates 

976 mrs-sdes 

1JB3 






CIBC 31W 3146 

Cenadlon PoOflc 2)Kr 2186 


inraMim iii^w w ■— 

HOGS (CMER) «mbL-am wb 
91.92 3957 Apr 94 «U» 4+OJ 4959 

star 4U1JW1 M m sz4o sijs 

5437 4U0JUI94 5TJ5 5150 51.10 

5)60 4685 Auo 9* 4960 49.70 4932 

49 JS 4360 OCt « AS &U 4*85 

0-59 1580 Dec 94 4190 <195 *540 

5080 <680 FOOTS 46.10 4620 46JB 

4880 40.90 Apr n 4430 4440 «4» 

5150 *60 JunTS *50 *40 4850 

Est seen MSI ■nv'+iakH <687 
Tim's aoen kit 3 1812 eR <S 
POOKBBJJES (CMHR1 eMto-wnw 
<180 4050 MOV 94 5*37 5465 XU 7 

6280 39808594 5*60 548S 5412 

5?JB *09 Aug M 5280 5250 5200 

41.15 39.10Fflti9S 54i0 5640 56* 

6050 3140 Mar 95 

6160 S780Moy9S 

Cst. ides 1697 Ttort-SdO 38« 

Thu'tocairt IftAH uQ Vb 

Food 

COFFH3C (NC5B) Sjms-camwt. 

50 oSutayM 019S 044B 8295 

D50 6*908494 *5J5 06.10 84JS 

»«i *J0Sep94 37.15 1765 8680 

ttJODKW 1850 0 MO 0780 

a3£l2R3 ™ S3 

85008(195 

estsoles Tim's, rotas 14877 

T b u * so pen W 4031 1 IP HU 
lluktaj Mmn nil fftCSB nzeothc-anit, 
gg^^SS^tallS 1183 1189 


-067 28M 
-06016673 
-060 £.127 
—082 2*64 
-0180 1.931 
-087 2630 
-485 2 S 
US 

-085 41 


—480 5839 
—080 4402 
-088 601 
-480 105 

—483 10 

16 


—465 27823 
85.15 —060 19,119 
1450 -065 TJB 
87.90 -060 4355 
SIJS -473 1655 
9085 -060 379 
9185 — 0JD 16 

9285 —060 1 


11 JO —081 33853 


1250 9.15 JM 94 1162 1165 1165 1165 <1695 

me 967 Oct 94 1189 1IJ3 11.13 11.23 —002 30210 

11JJ 9.17MOT9S IMF 11.12 1050 1103 • +001 14,753 

II* IIL57May95 11J2 11.12 1185 11.10 +001 1,900 

1163 HL9Ju(95 1187 +001 1JJB5 

11* WJ70d95 1104 +401 310 

1095 1095 Mar 94 1184 +081 5 

Est. ides 10644 Thu'S. SOlefi 168JD 
Thu's open tot 123611 o> 342 
COCOA INCSE) Mfiwtoem-iMflsn 


1368 

978 May 94 

1137 

1147 

1124 

1126 

—16 20241 

1365 

999 JulW 

1163 

1171 

1145 

1149 

—17 2033! 

1P7 

1020 SCO 94 

IIW 

1195 

1173 

1176 

—19 lias 

1389 

1041 Decta 

1228 

1231 

1211 

1214 

—18 781! 

'387 

1077 Mar 9S 

1262 

1263 

1750 

1247 

— 18 105C 

MB 

1111 May 95 

1283 

1283 

1275 

190 

—10 581! 

M07 

1225 Jd 95 




129* 

— ia 2821 

1350 

1275S8P95 




1314 

-VB 621 

1437 

1332 Dec 95 





—18 291 

1385 

1385 Mar 96 




1381 

-48 1 


Est. Sdes 12,171 TIM'S, sales 6,998 
Thu's open M 06JM up 334 
ORAItaeJUKE (NCTIO luna*M.- cmh nr ■ 
13500 8900 May 94 10175 10465 103.10 

13500 101 JO Jut 94 104B0 IO 10400 
13+50 10550 Sep 94 109* 110.10 109.10 

13400 lOSOONavN 10BJS 109J5 109* 
13200 1035D Jan 95 11050 11050 11010 

12*85 10400 Mar 95 11280 11285 11280 

Est sales 2800 Thu's, sdm 3880 
Thu's open tot 20819 up 231 

Metals 

HI QRADE COPPER MCMX] SMto-whi 

9125 7450 Apr M 0490 0490 06* 

10220 73* MOV 94 S&* fi7.lt 0435 

9180 7+10 JunM 8665 8465 0665 

10295 7420 JM 94 8480 0785 0465 

10130 7490 Sep 94 07.15 07 JO 0470 

101* 75J5Dcc W 07.10 87* 8480 

90* 7490 Jm 95 

99JM 730aFeb«S 

10740 73* Mar 95 

91 JO 7485 Marts 

91 JO 78*Ju19S 

9185 7530 Aug 95 

9105 79-lOSep 95 

9015 758000 9S 

8030 77J5N0ir« 

91JS 84* Dec 95 88* 84* 84* 

89J0 8900 Jm 96 

EsLsdK 9*0 Thu's, sdes 11891 

Thu-icpentol 57,904 o*T 2410 

SILVER (NCMX) Unkwak-amCspernweL 

57141 5188 Apr 94 

5828 371.0 May 94 5468 5SL5 5468 

5588 5640 Jun 94 5478 5478 5478 

5845 3718 JM 94 5900 5578 208 

W0.5 3745 Sep 94 5578 5«U 5578 

5770 380.0 Dec ta 5610 5678 5610 

5640 4010 Jm 95 

60*0 41 45 Mar 95 5140 5745 5740 

6045 <188 May 95 5810 5EL0 5828 

6108 4200 JW 95 

5450 4938 Sap 95 

6248 S398DK95 6040 *40 5018 

JmW I 

Esf. ides 198* Thu's, sdes 16871 
Thu'sepenht 115864 di 1233 
PLATWUM (NMHRJ 50towac-4aMm»wtowi 
42B80 331* APT 94 405* *5* 405* 4 

437* 357* JM 94 41050 411* *410 4 

43S* 368*0094 <11* 412* «7JD 4 


+035 7, 113 
+0* 7062 
+ 030 2,137 
♦ 045 1.135 
+0* 0OM 
476 


-035 553 

-0X1 26*0 
-015 707 

-010 14383 
-015 4089 
-015 4061 
-015 127 

—025 

— 035 1*1 
-010 577 

-0.10 457 

-015 435 

-010 314 

—015 197 

—0.15 

—0.10 2*9 

-010 58 


9SL5W 9084066*95 94190 94190 94070 9*890 — WCKU47 

9+730 907103*1 95 93860 93070 91770 717* — H0196J90 

94*0 91010 Sen 95 93*0 9X580 9X4* 9X510 -*146045 

948* 91.1* Dec 95 93870 93870 9X1* 91210 -00131887 

9*8X1 90750660-96 9X1* 9X1* 9XM0 91130 -70121 OJ9 

EsI. sates KLA. Mute 401842 
Thu'S open tot zsnxa up 133* 

BRITISH POUtX) (CMBO tovneunp- 1 onto* ■ante S+S001 
7-5150 1+47* Jun 94 1** 1A750 1** 1/4736 *18 47343 

1*W 1+440 Sep M 1/4724 1.4724 1/44* 18*0 *78 917 

1/4950 I.flODecta 1/1*0 1/400 1/1650 1/46* +80 S 

MCT96 M6» +30 1 

EsI. sates KA Thu'S. SdeS 12875 
Thu's open W «+93 up 1136 
CANAOIAN DOLLAR (CMERI INrdk^l potoUaudstOtoei 
0J805 071 13 Junta 07204 07236 070* 07205 -3 39*4 

077* 070* Sep 9* 07203 07200 07173 07172 —3 1819 

07670 07030 D«C 94 07185 07105 07163 07149 -3 182* 

07*5 OJIBOMar 95 07165 071* 07US 07130 -3 4*. 

07522 0*90 Ain 95 07133 07130 071* 07109 -3 41 

BL sates 5^5 Tin's, sates 2837 
Thu's aeon tot *Q.ih off il 

GERMAN MARK (CMSU ipw pek- 1 MMWMb 100001 
06133 05M7Jun94 05SOT CJB32 05805 0JB19 +12 92X36 

06“5 0SUO5WM 0005 05813 05798 0SBO4 +12 2812 

0OS3 059ODBC94 BJ403 +12 Iff 

6Ace96 05BT3 +12 411 

». sates 309* ws. sates 49J88 
WiawiM 9X770 UP 7165 
JAP6NESEYBI (CMER) f im 1 p nl iil w niTi tn hintl 

—40 SX39S 

0 *99aa flBW25ep94 (Lms7immsm3mm’Xims3 — « iw 
^m«UIO^H3^W0mWO^9WlUIO9C350OO9643 —09 618 

Thu'S Open to! 5+174 up i^sq ' 

ICA4BO tmrkwie-ipaHmuaHHunai 
07H5 06590 ton 94 06907 06949 08904 0*11 +1 3*343 

07115 08600 5ep 94 06938 06955 06919 069* +1 313 

07130 0042DK9I 0694] +1 44 

g t -Mtea NA._ Thu's.5des 10790 
Thu's open tot 34^00 up 456 


-3 39AM 
-3 1819 
—3 182* 
— 3 m. 
-3 61 


+ 12 X612 
♦12 IT* 
♦12 411 


Industrials 


+16 2 
+3J 67874 
+X5 

+X5 21879 
♦X5 5831 
+X5 9,989 
+X5 

♦05 5831 
+3L5 
+15 
+15 

+X5 1883 
+X5 


42B50 33580 APT ta 40580 *580 40580 40480 —030 K4 

437 JM 35780 JW 94 41050 J11JM *6.70 40780 -080 21843 

43S80 360000094 41180 41380 407 JO 407310 -130 I860 

374JS, Jen 95 41280 <1X00 <1080 40050 -030 S26 

4WU 39000 Apr* 41380 <1480 41180 409J0 —380 832 

EM-sotes HA. Thu's, sdes 1861 
Tito's spin tot 24«S Off 1101 
GOU) [NCMX} wm,oL-iUniwtara. 

41050 33520 APT 94 30*70 340* 380* 34*20 +030 1833 

39260 37050 May 94 3M.9U rBJO 

<1780 339/40JW1M 38780 30880 38570 38030 +080 « 8*3 

<1580 Ml JO AUO 94 30960 39120 38860 38090 +030 9866 

<1780 34*00 Od 94 *220 39230 39220 391J0 +020 58M 

GLX MAgecM 39580 39780 39480 JteJB *030 14875 

41180 36150 Ft* 95 W780 +080 3806 

41780 36*50 APT9S 49180 +080 *»1 

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41130 41 020 Oct 95 411 JO +080 

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TWsOMnH 17X7 46 off 385 ; 

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115-21 103-30 Junta 105-20 105-31 MS-06 10+14— 14 329892 

Ills !&2! w vn 

10+14- 1* 600 

111- 07 MI-49 Mar9S 102-20 — 14 11 

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11+19 M-1S Jun 75 101.77 11 n 

112- 15 101-01 Sep 95 101^11- 21 U 

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-075 17/3S1 
—085 15*712 
-021 X<S4 
— 033 1X2B5 
-025 BC 


+025 40318 

+0T4 30513 

+014 39,750 
+014 1IJ46 
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+014 +849 
+0M 1204 
+0M 11834 
+014 <831 
+014 2,992 
+0M UM 
+014 TV 
+014 

+014 M2 
+009 
+009 
+009 


+001 2ZJ13 
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+002 9850 
+002 24815 
+002 7493 
+001 0851 
+002 7809 
+BJB 

+0uD2 4810 
+007 I+57D 
+0t« 2,939 
+0OZ 

+002 +9U 
rUC Zll 

+002 n.m 

+002 1JM 


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—023 32821 
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+083 10066 
+00 +205 
+002 1,158 
—083 3811 


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Commodity Indexes 

Ntaoth^s i 

Rwters 1826 jo 

DJ. Fit fires 

Com. Research 22178 





' m ' T 




1 


■»* v. 


EVTERIVATIOlSAjL HERALD TRIBUNE, SATURDAY-S UNPAY, APRIL 9-10, 1994 


Plage 11 


Escudo Revives 
After Storm 
Of Speculation 


Reuters 

~7 A st °rm of specula- 
Jon against the escudo eased Fri- 

JjX, “ rates feUdSaiply 

wijout central bank assistant 

borne dealers said this suseested 
,that the Bank of PormEaffifSSn 

!"«fle ag&TsS 

.™? of foreign investors, but otb- 

The speculation had lifted the 
Deutsche mark as high as 1044 
esrados last week, but on Friday 'it 
had settled back to about 102 escu- 
dos. Some dealers predicted that 
the mart would return to pre-crisis 
week! 10 ^ escudos next 

“I don’t know if this is just a 
pwise by the nonresidents” one 
broker said after overnight rates 
fell to a range from 14 to 1 6 percent 
on Friday after hitting a high of 100 
percent on Thursday. 

But some said the speculative on- 
slaught was over. 

“The forex guys are throwing in 
the towel, " said James Lee, an ana- 
lyst with the brokerage Fincor SA. 
“AD the players were short and 
were desperately looking for others 
to come in and bail than out, but 
no one did.” 

The central bank did not offer 
money market funds on Friday. It 
had injected overnight funds at 13 
and 14 percent on the last five trad- 
rag days, penalizing speculators 
holding short positions in escudos 
in the hope that the currency would 
fall 

Several market analysts said 
speculative attacks on tne escudo 


had been triggered by a feeling that 
it was overvalued 

Money rates fell by up to 2 per- 
centage points between January 
and mid-March, with the Lisbon 
one-month interbank money rate 
sliding to 9.7 percent from 11.7 
percent. 

But analysts said Prime Minister 
Anfbal Cavaco Silva’s forecast in 
March that rates could fall a fur- 
ther 2 percentage points by the end 
of 1994 had unnerved the market, 

Vitor Constantin a former fi- 
nance minister and former leader 
of the opposition Socialist Party, 
said that in order to restore market 
stability, the center-right govern- 
ment most stop taBring about a 
further fall in interest rates. 

“It is essential for the prime min- 
ister and finance minis ter to stop 
talking in public about the future 
trend in interest rates," he said. “It 
is very difficult to maintain credi- 
bility in financial and forex mar- 
kets that have memories Hke ele- 
phants and are as speedy as hares,*' 

Analysts said they could detect 

no fun dam ental w eakness in the 

Portuguese economy, where infla- 
tion, r unning at 6.1 percent in Feb- 
ruary, appeared undo- control and 
recession has been less severe than 
in other parts of Europe. 

U 1 cannot find any fun dament al 
reason why there is aS this tremen- 
dous pressure on the escudo,” said 
Vimtie Santoro, an economist with 
J. P. Morgan in New York. 

Mr. Lee praised the Bank of Por- 
tugal’s low profile handling of the 

financial criris. 


Transformation of a Russian City 

Today’s Nizhny Novgorod Is Kinder to Some Than Others 


By Fred Hiatt 

Washington Pott Service 

NIZHNY NOVGOROD, Rtzssia —In this 
heartland region, the prime laboratory for 
Russia’s new economics, much has dunged 
over the last two years and much has re- 
mained rite same — and whether thing* over- 
all are better or worse is very much a matter 
of persona] taste. 

Nizhny Novgorod, formerly the closed So- 
viet city of Gorky, has led the way in privatiz- 
ing stores, transport and, now, collective 
[anas. With a 35-year-old physicist, Boris 
Nemtsov, as its regional governor, it has 
attracted dozens of capitalist missionaries 
from the World Bank’s International Finance 
Corp. and the British Know-How Fund. 

“I agree that if it doesn’t work out here, it 
probably won’t work out anywhere," Mr. 
Nemtsov said recently in answer to a ques- 
tion about Russia’s shift from central control 
to a free market. “But so far, the process is 
too diverse to call a success or a failure.” 

Soviet-era Gorky was a secretive city of 
submarine factories and barren store shelves. 
Here, the dissident physicist Andrei Sakha- 
rov and bis wife. Yelena Banner, lost seven 
years in internal exile. Here, the IFCs young 
advisers who began working two years ago 
had to pay train conductors to carry docu- 
ments to their Moscow office and back. There 
were no fax machines. 

Today, Nizhny Novgorod boasts a Chinese 
restaurant, and casinos with mirrored ceilings 
and plush carpets. Kiwis and avocados are on 
sale. Gangsters strut, entrepreneurs hustle, 
no one stands in line. 

The mice sullen clerks of a downtown 
cheese store now bustle efficiently in a shop 
that has been expanded, and expanded ag ain , 
since they became co-owners. “Higher sala- 
ries compensate for the psychological pres- 
sure of having to hepatite,” the deputy man- 
ager, Vera Pavlova, explained. 

And while 1FC officials still cannot fax 
documents to Moscow —the domestic phone 
lines are too dicey — they can dial direct to 


their Washington headquarters, which relays 
information to Russia’s capital. 

Physically, Nizhny Novgorod has 
tittle in two years. Inside the citadel, high 
above the wide, frozen Volga River, a few 
vintage tanks and warplanes stand, ignored 
The pedestrian-oily shopping street, with its 
19th-centnry theaters ana merchants' homes, 
has been spruced up a bit. But in the lower city, 
across the river, old wooden hones list farther 
into the ground, and industrial grime coats the 
cracked cement of bleak apartment blocks. 

In an interview, Mr. Nemtsov ticked off 

'Business is very 
good. 9 

Vera Pavlova, deputy 
manager of a cheese store 

the gains and failures of the last years. Stores 
are full, he said, private truckers are working 
hard, and entrepreneurial activity is boom- 
ing. “People would hardly a^ree to go back to 
the era or coupons and rationing,” he said. 

But crime and corruption are booming too, 
Mr. Nemtsov said, ana the gap between rich 
and poor is growing. The region's big fac- 
tories, mostly dependent on military orders in 
the past, are suffering, and privatization has 
not helped them much so far. 

“So I couldn't call it an entirely successful 
policy” be said. 

Recently, in a raw display of Soviet-style 
politics, Mr. Nemtsov went after the city's 
mayor, another reformist but no longer an 
ally. Local elections, which the mayor was 
sure to win, were canceled, and President 
Boris N. Yeltsin then fired the mayor. 

Yet, for all the infighting, perhaps the most 
notable change in two years is a sense of 
normalcy in the city. 

“1 don't have to be a fireman anymore,” 
Mr. Nemtsov said. “I don’t have to think 


about supplying sugar to the people. I don't 
worry about cigarette uprisings or vodka 
shortages — ail these things we faced before.” 
□ 

After members of the Dmitrievsky cheese 
shop “work collective” became owners, they 
abandoned their lunch break, when the shop 
would dose for one hour each day. Bui work- 
ing through lunchtime wasn’t enough to keep 
up with growing demand So Dmitrievsky ex- 
panded into the vacant cellar next doer, and 
then bought another shop around the coiner. 
And it fanned b syndicate with a half-dozen 
other stores, sharing a wholesale network and 
providing some protection in the rough and 
tumble of Russian proto-capi talism 

Now, each month, Dmitrievsky sells more 
than $300,000 worth of imported and domes- 
tic cheeses, German salamis, Pickwick tea, 
Sprite and canned Israeli olives. Its array of 
goods is astonishing for local residents. 

“People have enough money,” said Ms. 
Pavlova, the 57-year-old deputy manager, 
who spent most of her life as a state employ- 
ee. “Business is very good.” 

Ms. Pavlova said she now earns V millio n 
rubles (about S600) a month, but her lifestyle 
has not changed at aH 
“We weak Eke slaves,” she said. “The taxes 
are worse than under serfdom.” And her three 
grown children — inducting a physicist who 
earns only 40,000 rubles a month — are con- 
stantly in need “I barely have time to divide 
up my earnings among them," she sighed 
Outside the store, Laura Zharkova, a 42- 
year-old customer, applauded the changes. 
She said she had left her state company for a 
private typographical concern, was better off 
materially and more satisfied in her work. 

But Anna Matveyenko, 52, who had just 
bought a small piece of cheese, said she is 
about to be laid off from her job as a techni- 
cian at a state chemical institute 
“I don’t know what wfll become of my 
daughter,” she said “She is 15 and dreams of 
becoming a teacher. We’D have to support her 
to her death.” 


Investor’s Europe 



Sources: Reuters, AFP 


lnfcrn»titm*l JVrekJ Tribune 


Very briefly: 


Investors Rev Up for a Spin on the Information Motorway 


By Richard W. Stevenson 

New York Times Service 

LONDON — For investors following the much- 
touted convergence of the telephone and cable televi- 
sion industries, the next few weeks may bring an 
opportunity. 

U S West, the Denver-based telecommunications 
company, and Tele-Communications Inc., the cable 
television wan t, are expected to deride whether to 
make a public offering of shares in TdeWest, tbtir 
joint venture in Britain. 

TeleWest is running neck and neck with Nynex 
Corp., the New York-based phone company, as the 
largest cable operator in Britain. What has attracted 
the U.S. companies is not just the chance to hufld 


cable systems, but to offer both television and tele- 
phone service over the same fiber optic lines. 

Britain is far ahead of other countries in removing 
restrictions on combining telephone and cable service. 
ILS. companies, among others, have sunk billions of 
dollars into buDding fiber optic networks here, partly 
because Britain is a laboratory for companies that see 
the same opportunities arising for them at home in 
coming years. 

The British market has also proved to be a good 
business in its own right 

The business is by no means without risks. The costs 
of building the tystems is huge. TdeWest has already 
spent $750 mDEon and has buDt only a quarter of its 


system. Franchises in which TdeWest has an interest 
contain 33 million homes. 

Cable- telephone companies must wean consumers 
from satellite-delivered television. Moreover, all of the 
cable-telephone companies face the prospect of intense 
competition from British Telecommunications PLC. 

British Telecom has been cutting phone rates, and is 
moving slowly into video services, though it is still 
restricted from entering the cable business. 

TeleWest has hoed Goldman, Sachs ft Co. and 
Klein wort Benson to evaluate its options, said Ed 
Martix, a spokesman for U S West in London. Among 
the unresolved issues, he said, is whether any offering 
would be made in London, the United States, or both. 

In a recent report, Lehman Brothers estimated that 


the industry would spend £7 billion, or about $103 
billion, building broad-band fiber optic cable net- 
works by the year 2000. _ 

Needing to raise these billions, the industry has 
been sounding out the equity markets. 

A group including Cable ft Wireless PLC, Bril 
Canada International Inc. and Jones Intercable Inc. of 
the United States has announced that it would pool 
cable interests in Britain and offer shares in the 
consortium, probably in both New York and London. 

Last fall International Cabletel a UJS. company, 
raised $400 million for its British cable and telephone 
unit through a Nasdaq offering. 


• Spain’s cabinet approved measures aimed at stimulating car sales and 
reducing pollution; owners who trade in a car more than 10 years old wfll 
get a tax reduction of 100,000 pesetas ($723) on a purchase of a new car. 

• Italy’s new-car sales rose 1.6 percent in March from a year earlier, 
ending 19 consecutive months of sales declines, the carmakers’ associa- 
tion Anfia said; first-quarter sales were down 8 percent. 

• British new-car registrations jumped 15 percent in March from a year 
earlier, according to trade association figures. 

• Switzerland’s jobless rate fell to S.O percent in March from 52 percent 
in February, the government reported. 

• Queens Moat Houses PLC, Britain's third-biggest hotel group, said its 

E loss shrank last year to £46.4 million ($68 million) from £1.04 
in 1992 and said its creditor banks' committee had recommended 
that the banks continue to support the company until May 27. 

• Philips Electronics NV said it was issuing $250 million of 10-year debt 
sccurincs in the United States, paying interest of 7.75 percent annually, to 
reduce the company’s debt load and for “general financing” 

• Neste Corp^ a Finnish government-owned oil and chemicals group, said 
it had net profit of l.I2biIIion markkas ($203 million) last year, reversing 
aloss of 138 billion markkaa in 1992, but it had an operating loss of 132 
billion markkaa, narrowed from 232 billion markkas in 1992 
• Banco EspaBol de QMto bidders sought interviews with directors of 
Banesto, saying they needed more information before making final offers 
for the failed Spanish banking concern. 

• The European Bank for Reconstruction and Development said it was 
considering making an issue of Greek drachma bonds. 

»SmithKBneB e ed» a mFLCsaiditplaiaiedtointroduceageaericformof 
Dyazide, an antihypertensive-diuretic drug, in the United States this 
month, to be distributed by GbwGeigy Ltd's U.S. subs diary, Geneva 
Pharmaceuticals Inc. Reuters, Bloomberg, AFP. AP 


NYSE 

Friday's dosing 

Tables include the nationwide prices up to 
the closing on Wall Street and do not reflect 
late trades elsewhere. Wa Tfte Associated Press 


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MISC 

Continued on Page 12 


FOREST: Sale to Britain’s Rich ? 


Continued from Page 9 

government was doing,” said Pad- 
dy Tipping, a Labor member of 
Parliament from Nottingham. 

Sherwood Forest’s fate illustrates 
Britain’s changing perspective to- 
ward its forestlands. As Britain be- 
came more densely settled, wide ar- 
eas of the forest disappeared to 
make way for farms ana, later, ex- 
ploitation of the Nottinghamshire 
coal fields. 

Now most of the mines have 
dosed, and, with thousands of min- 
ers out of work, local officials are 
focusing once more on. the forest, 
seeing its scattered remnants as a 
way to Jure tourists. 

The Robin Hood legend draws 


large numbers of visitors to a na- 
ture center and 450-acre tract man- 
aged by the Nottinghamshire gov- 
ernment 

The heart of the old bunting for- 
est it is now a thinning woodscape 
of birch, yew and brooding oaks, 
including the Major Oak, a tree 400 
to 500 years old, whose huge limbs 
are lasted together with steel cables 
and braced by pine supports. 

Nearly half of the forest that 
remains in the comity is in the 
hands of ducal estates. Of the re- 
mainder, all bol a small part is 
managed for timber production, 
consistent with a national policy 
aimed at reducing dependence on 
imports. 


SAS and Crews 
Agree on Cuts 

Bloomberg Business Neva 
COPENHAGEN — Scan- 
dinavian Airlines System said 
Friday that it bad reacted 
agreements with its pilots and 
two flight-crew unions on a 
cost-cutting program. 

The airline bad presented 
workers with a savings pit* 
gram designed to cut yearly 
costs by 2.9 btDion Swedish 
kronor ($368 million) by the 
end of June 1995, but the flight 
crews had until Friday op- 
posed their pan of the cuts, 
at 720 milli 


valued: 


million kronor. 


Together, the deals mean 
that SAS can slice almost 
1,000 jobs. The plan will cm 
300 pilot jobs, but this mil 
happen through creation of 
part-time jobs, leaves of ab- 
sence, retirement and volun- 
.taiy reductions. SAS said. 


SARAKREEK HOLDING N.V. 

Amsterdam 

Notice i» hereby given ih*t the Annual 
General Meeting- ol Shareholders of I. 
Sankieek Holding N.V. wfll he beW on | 
Tnctdjrt, 26th Aprfl 1994 it 11 un. a thr 
Hotel Iflrrcnrr Amatenlm Airport. Onde 
Hajg»wrg2Q, 1066 BY Aimimam. 

The agenda inebda: 

* 1993 .Unto*! Report of the Board of 
Management 

- EsUbHshmenl of the 1993 Annual 
Account* 

■ Determination of tbenroGt 
appropriation for 1993 

• AppooutneotM U> the Sq fj e r rkt i i j 

■ Andmiaation of the Board of 
Management to bane and to a cquire - 
on behalf or the Company - aharea in 
the company 

■ Miter If an runs 

The complete agenda ter Ihia meeting and 
thr 1993 Annual Report and Aecauntc are 
available and can be obtained at: 

elfijh 
7268, 


The Company'* head office, AnuieldijV 
194, I07 <tLK Ainrtrrdain (PJX F 
10*17 JG AiMteidam) and iho at: 
the ABN AMRO Bank NY, Hermgradit 
S97. Amsterdam. 

To be able to attend the meeting, 
shareholder? roust drporii their aharea ft 
the offices of the abate-mentioned bask 
not later than 19th April 1994. The 
drpoaat receipt wfll render entrance to the 
meeting. 

The Supervisory Board 
Amsterdam. 9lh April 1994 


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BSTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 9-10, 1994 




Strike Halts B anking 
And Insurance in India 


Sr Page 13 

ASIA/PACIFIC 


ly Ow Staff From Dispatches 
*?m*Y — a cme-day strike 
jP.. 1 *? workers paralyzed 

India s tanking and insorWiS- 
gdustoes Fnday, and the employees 
vowed to intensify the pnSSSZ 
less the government agreed not to 
privatize state-sector banks. 

? e founh “ u» last 
Ji“ h F ^ of increasing 
prKsure from opposition parties 
and labor unions against the gov- 
ernment s market-oriented eco- 
nomic reform plan, which was initi- 
ated m July 1991. 

The plan aims to dismantle de- 
cades-old socialist policies and 
open the Indian economy to inter- 
MUonal competition. The reforms 
seek to increase competition for the 
nationalized and overstaffed tanks 
by closing some branches and set- 
ting up private banks. The plan 
also is to open the insurance busi- 
ness to private companies. 

“If the government remains si- 
lent after today, we will again go on 
a strike for two more days nest 
,P; p - Chadha, president 
of the AJI-fndia Bank Employees 
Association, told 3,000 demonstra- 
tors at a rally in Bombay. “After 
that, the country's financial sector 


could come to a grinding halt for an 
indefinite period.” 

The walkout specifically targeted 

the state tanks, but it also closed 
India’s many foreign banks be- 
cause they couldn’t do business 
with the Reserve Bank of India, the 
central tank. Mutual funds and 
other public financial services were 
affected, too. 

On Friday, checks worth more 
than 10 billion rupees ($318 mil- 
lion) remained uncleared because 
of the strike, which was called by 
more than 20 unions. 

Businesses said they could incur 
huge losses because of the strike. 

*Tbe losses could amount to a few 
billion rupees," said a spok esman 
for the I ndian Banks’ Assoriatioa. 

"If banks are allowed to be pri- 
vatized, many of us will be losing 
our jobs as we will be employees of 
a select rich group of industrialists, 
and we do not like that,” a leader of 
the employees’ group said. “We 
shall not stop our agitation." 

But the cha irman of the banks' 
group, J. V. Shetty, said (hat the 
Banks were not being privatized. 

“The government will retain 
control of the banks and only those 
banks which have a healthy bal- 
ance sheet can raise funds from the 
market,” he said. 


He also said only 100 of the 
46,000 tank branches would be re- 
vamped. 

But bank employees long used to 
working in a protected environ- 
ment with socialist-style policies, 
midis’ which 21 tanks were nation- 
alized in 1969 and 1978, fear a loss 
of jobs under the Chungs 

A committee beaded by an ex- 
govemor of the central bank rec- 
ommended to the government ear- 
lier this year that foreign 
companies be allowed to enter the 
stale-run insurance sector. 

India began the economic reform 
plan in 1991 after it 'came dose to 
defaulting on its external borrowing. 
India’s foreign ex change reserves 
have since risen dramatically, to 
over $19 billion from a low of $123 
billion in March 1991. 

Senior bankers say overstaffing 
and lack of accountability were 
among the prime causes of huge 
bank losses m the last two decades. 

Under the reforms, the banks 
will have to raise their capital bases 
to international standards and face 
more competition. 

India has authorized seven pri- 
vate-sector banks to be set up as 
part of the program. 

(Reuters, AP, AFP) 


Gingerly , Laos 
Moves Toward 
Market Reform 


Compaq Expanding in China 


Bloomberg Business Net t* 

th HONG KONG — Compaq Computer Corp. plans 
“to expand its Chinese operations this year, opening 
tour representative offices and a factory, a company 
officer said Friday. 

Compaq also will strengthen its linlr* with the soft- 
ware manufacturers Microsoft Corp. and Novell Inc 
to help maintain its market share in China, said Ian 


plans are essentially designed to meet that demand,” 
Mr. Chorion said. 

Compaq’s operations throughout Aria, however, trail 
those of many of its chief competitors, as most of than 
ire Asian companies or have large factories in the 
region. International Buaness Machines Carp, and Ap- 
ple Computer Inc. are well rooted in Asian markets. 

“Compaq is relatively underrepresented in Asia for 


A genet France-Prtsse 

VIENTIANE — Laos, isolat- 
ed in recent year, is slowly em- 
bracing a mantel economy even 
though it remains wary of de- 
veloping a multiparty political 
system. 

“Our goal is to become com- 
pletely self-sufficient while wel- 
coming foreign enterprises,” 
Deputy Prime Minister Kham- 
phocri Keoboulapha, president 
of the committee for planning 
and cooperation, said. Mr. 
Khamphoui is in charge of eco- 
nomic reform. 

The authorities recently abol- 
ished passes for Laotians and 
foreigners traveling in (he coun- 
try’s interior. Laotians who had 
fled the revolution in 197S are 
also discreetly returning and 
beginning to recover assets and 
homes. 

“We want to strengthen the 
national economy, which wiO 
allow the population to produce 
more, especially in the rural ar- 
eas," Mr. Khamphoui Keobou- 
lapha said. 

Since 1989, inflation has fall- 
en from 85 percent to 7 percent, 
while gross domestic product 
has risen. 

Laos has adopted a particu- 
larly liberal foreign investment 
code, and has reformed its tax 
system and public finances. 

Agriculture, forestry, mining, 
communications and hydro- 
electric power have been ear- 
marked for development by the 
government. 


Mr. Khamphoui Keoboula- 
pha said that the three pillars of 
the country’s future were “po- 
litical security, public order and 
economic stability." 

Bui the regime, fearful of 
what happened in the former 
Soviet Union, has no intention 
of moving toward a multiparty 
system or democracy, accord- 
ing to diplomatic circles in 
Vientiane. 

They also say that the gov- 
ernment recognizes and fears 
the negative aspects of a market 
economy. 

“The standard of living has 
improved in the plains, but con- 
ditions remain difficult in the 
mountainous areas,” the deputy 
prime minister said. These .re- 
gions are populated by ethnic 
minorities who often rebel 
against the government. 

Some leaders are also worried 
about the danger of growing 
Thai influence. 

Thailand, a neighboring 
country and the first to profit 
from the Laotian shift to a more 
open economy, invested $61.15 
milli on in Laos in 1993, far 
more than either China or Aus- 
tralia have invested. Thai funds 
have accounted for more than 
50 percent of the capital inject- 
ed into Laos since 1988. 

T hailan d is the p rimar y trade 
partner of Laos and imports 70 
percent of Laotian hydroelec- 
tric power. 


Churton, Compaq's marketing communications man- a company of its size and needs bo enhance its presence 
ager for the Asia-Pacific region. here,” sard Richard Htherington, North American 

Speaking by telephone from Singapore, Mr. Chur- equities manager at Jardine Fuming Securities, 
ton said Compaq, in a venture with Beijing Stone “And IBM, its No. 1 competitor, already has long- 
Group. was building a plant that would open in July in established China links,” be said. 

Shenzhen. The products of this factory will be “pro- Mr. Churton said Compaq's sales in China jumped 
installed with both Microsoft and Novell software,” 74 percent in dollar t erms last year, compared with 
he said, and will initially be sold only in China Stone total growth in the China computer market of about 
is China's largest private computer distributor. 30 percent 
“We also have plans to open four more sales and Compaq and Microsoft are 18 months into a global 
servicing offices in China to add to an existing one in cooperation agreement covering technology and mar- 
Beijing," Mr. Churton said These offices will be in keting. This link includes Microsoft's planned Qtica- 
Shmghai, Chengdu, Xian and Shenzhen, he said go operating and network system, an updated version 
“We believe we're No. 1 in China, with more than 30. of its Windows product due to be launched in the third 
percent of the total market share, and our expansion quarter of this year. 


Speaking by telephone from Singapore, Mr. Chur- 
ton said Compaq, in a venture with Beijing Stone 
Group, was building a plant that would open in July in 
Shenzhen. The products of this factory will be “pre- 
installed with both Microsoft and Novell software,” 

. he said and will initially be sold only in China Stone 
is China’s largest private computer distributor. 

“We also have plans to open four more sales and 
servicing offices in China to add to an existing one in 
Beijing," Mr. Churton said These offices will be in 
Shanghai, Chengdu, Xian and Shenzhen, he said 


Jardine Fleming in Vietnam 

Bloomberg Business News 

HONG KONG — Jardine Fl eming Holdings Ltd said Friday it had 
started its first investment project in Vietnam, helping to finance con- 
struction of an office building in Ho Chi Mmh City. 

Jardine Fleming, a joint venture of Jardine Matheson Holdings Ltd 
and Robot Fleming & Co., said the financing had been made through an 
investment fund called JF Asian Realty Inc. A source dose to the project 
said Jardine had a 45 percent stake in it with a value of about S3 million. 

The eight-floor building, in the central business district of the city 
formerly known as Saigon, is scheduled for occupancy in June, according 
to JF Asian Realty’s director, David Holdsworth. 


Ahmad 
Of Maybank 
To Head 
Bank Negara 

Compiled bp Our Sioff From Dispatches 

KUALA LUMPUR — Malaysia 
appointed Ahmad Mohd Don as hs 
central tank governor Friday, suc- 
ceeding Jaffar Hussein, who re- 
signed last week to take responsi- 
bility for two years of big losses in 
foreign currency trading. 

Deputy Prime Minister Anwar 
Ibrahim said Mr. Ahmad, 47, the 
managing director of Malayan 
Banking BhtL, Malaysia’s largest 
commercial bank, would take over 
May 1 for a three-year i™ as 
governor of Bank Negara. 

Mr. Jaffar had been governor 
since 1985. 

Mr. Ahmad, a U.K.- trained 
chartered accountant, joined Ma- 
layan Banking in 1982 as general 
manager of hs treasury operations. 

On Thursday, Mr. Anwar said a 
central bank adviser who headed 
the bank's foreign-exchange de- 
partment also had resigned. The 
adviser. Nor Mohamed Yakcop, is 
to be replaced by Abdul Murad 
Khali d, the head of the banking 
department. 

Mr. Jaffar resigned March 31 af- 
ter the bank disclosed a loss of 5.7 
billion ringgit ($2 billion) on for- 
eign-exchange dealings in 1993, 
which followed a loss of 9 3 billion 
ringgit on currency dealings in 
1992. 

The bank said it would limit its 
foreign-exchange transactions, for 
the time being, to spot trading to 
manage its international reserves, 
rather than engage in more risky 
futures trading. 

Malaysia’s parliamentary oppo- 
sition is demanding a special inves- 
tigation of the losses and demand- 
ing to know whom the government 
allowed the central bank to aggres- 
sively speculate in currency mar- 
kets with the nation’s foreign-ex- 
change reserves. 

Mr. Anwar, who is also finance 
minis ter, denied tins week that he 
had any role in the losses. He said 
he had been told 18 months ago 
that Bank Negara was losing mon- 
ey in the currency markets and had 
ordered the bank then to stop trad- 
ing in forward contracts. 

(AFP, Reuters, Knigfit-Ridder) 


Hong Kong Singapore •; ?; .f T: Tctfcyo V- : 

Hetng Seng Nifckef 226 . 


Wmm 

-,v +1,06 

: =>: • isr-”' ^.70 . - 

Off* iWHWMfc 1 > ' nifmyluHim . fl.H — ■»*!» ■■ Ui l f » I i n 

- .ey! 

Sources: Reuters, AFP biOTianxuJ Henid Tribune 


Very briefly; 

• Nippon Paper Industries Co. and Marubeni Corp. set up a venture with 
PT Barilo Pacific Timber and President Suharto's daughter to build a SI 
billion pulp plant, an Indonesian official said. 

• Sharp Coip.’s Spanish subsidiary, Sharp Electronics (Espafia) SA, will 
start making facsimile machines for the European market this year, while 
Sharp Manufacturing France SA will now produce only for France. 

• Taiwan’s economics minister, Chiang Fin-kung, urged b usinessm en to 
delay planned investment in China pending completion of a Chinese 
inquiry into the death of 24 Taiwan tourists in a boat fire there. 

• Goidtron Ltd. of Singapore will convert to floppy disks a plant built to 
make the digital compact cassettes developed by Philips Electronics NV. 

AFP, Reuters 

U.S. Money for China Car Parts 

Agence France- Presst companies and other financial in- 

BEUING — American Strategic stitutions. 

{S V SS“l l l P&aiS ^ some 40 candidates for 

■ “”5, ■ investment, Mr. Perkowski said. 
Dies, will invest $1 billion in Chi- a* China National Automotive l£ 
n«e car-parts entapra* ml he dustiy Corp ^ ^ Norlh 

^ aUDa Daiy Hi®* Group, Nanjing Automotive 
mitKnn Justly corp. and plants set up 

tmdcr **•* municipalities of Beijing 
mra ts wifi go to a group of 12 lo 15 Changchun, Nanjing and Wuhm 
parts makers m the next six ^ 
months, Asimco’s chairman. Jack ' American Strategic Investment is 
Perkowski, was quoted as saying, a venture of Pacific Alliance Group. 

The capital is to come from Dean Winer Capital Corp. and 
American pension funds, insurance TCW Capital Investment Corp. 



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IHT, 63 Long Acre, 

London WC2E 9JH, 

United Kingdom. 



















































































































































Be Wary of 
Gurus and 
Sound Bites 

F OREVER doesn't last as long as it 
use ® *9- Id late January, Elaine Gar- 
^dli* a Lehman Brothers analyst 
r? 1 f 5 rced 10 assume the kad- 

rh* I1 iQ «7 ,^l J-" 1 * guru ” predicting 
the 1987 crash, declared that "the stock 

could go on forever.” A week 
later, after struggling to new highs, stocks 
began to dive. All the guests had decided to 
leave the party at the same time. 

... Just t™ 0 months after that. Miss GaraareF 
h s own mood turned noticeably less festive, 
rler pronouncement that there was an even 

chance that the market was in the middle of a 

^ 5-percent “correction phase” was 
widely quoted on the last day of March. The 
major indexes made a double bottom on that 
. trading day and the next, and have since- 
moved higher. 

The celebrated analyst was no more wrong 
than many others in her business. She was 
only more noticed because in the past she 
~*as been more right, more often. Indeed, if 
she had been the only one who thought the 
way she did, she probably would have been 
right. It's when everyone believes that stocks 
will rise and has bet money on it that they are 
prone to fall, for there is nothing left to prop 
up prices. 

That’s why longtime observers of the mar- 
kets found the forecast she made in January 
with such unconcealed enthusiasm to be es- 
pecially useful, in a way. “That's as good a 
.. call of a high as you can make,” said one. 

- "“The market will go up forever and trees wiB 
grow to the sky." 

Miss Garzarellf s remarks may not foretell 
a new bull market — or a new bear market — 
but they do announce the advent of sound 
bite analysis. Today, financial information is 
instantaneously disseminated on news wires, 
and institutional traders throw billions of 
dollars in and out with the touch of a button. 
Tune for them has become too compressed 
to waste on thorough, reasoned research. 
The result is headline-making volatility. 

This may turn out to be a good thing. The 
turbulence of the last couple of months will 
serve as a warning to some investors not to 
get swept up in the mood of the moment, to 
look instead for stocks of sound companies, 
reasonably priced, and to buy none if none 
fit that description. 

Others, however, will keep the faith and 
continue to seek out the counsel of gurus, 9 
Strategy that could cost a lot of money if the 
seers’ prescience is a little rusty and prices 
move hard in the wrong direction. In a 
1930s- type, or even a 1970s- variety of bear 
market, trusting buyers may find that it 
’’takes what seems like forever to make their 
money back. And forever may last a lot 
ionger than it does now. 

CdeA. 


Does the Manager Really Matter? 


By PhQrp Crawford 


C ONVENTIONAL wisdom, not to 
mention common sense, says that 
the performance of a mutual fund 
has a lot to do with who is manag- 
ing it If that weren’t the case, fund compa- 
nies would presumably jettison the hefty 
salaries of their most portfolio manag- 
ers and turn to the minimum- wage pool for 
stock pickers. 

But while ample data show that a chang e 
in portfolio manager can have a significant 
effect on a fund's performance, other evi- 
dence suggests that whoever is in control has 
less bearing on the fund's return than does 
the overall style of the management compa- 
ny or, more important, the whims of the 
markets. 

To wit: If a star portfolio manager quits a 
fund, one might expect the fund to suffer in 
performance. But that’s not always the case. 
By the same token, one might expect a man- 
ager who has piled success upon success at 
one fund to continue to do so when he moves 
on to manage another. Wrong again. More- 
over, analysts say that gauging the effect of a 
new fund manager on performance is be- 
coming incr easingly difficult due to the ad- 
vent of multiportfolio fund families that fre- 
quently scuffle managers internally. 

Take the case of Fidelity's colossal Magel- 
lan Fund, which has current assets of $34.2 
billion. Magellan's longtime manager, Peter 
Lynch, had led the fund to an anmialwed 
return of 14 percent in the four years prior to 
his departure on May 31, 1990, despite the 
effects of the stock market crash of 1987. 
Magellan's performance would certainly suf- 
fer from the loss of Mr. Lynch, many said. 

But the two people to man Ma gellan 's 
hehn since that date; Moods Smith, who ran 
the fund far about two years, and the current 
captain, Jeff Vrnik, have kept the fund sail- 
ing over the nearly four years since Mr. 
Lynch departed. Together, they have 
brought in an annualized re turn of 14.59 
percent through March 31. 

“Morris Smith's performance is actually 
considered better than Lynch’s most likely 
would have been,” said uic Kobren, editor 
of Fidelity Insi ght , an independent newslet- 
ter devoted to Fidelity funds. “He went into 
pharmaceutical and technological stocks 
which did well, and that’s something that 
Lynch never would have done.” 


69 percent below the norm to 27 percent 
abmre average in the five years after a new 
manager was hired. 

The most significant conclusion was that 
poor performers which don’t change manag- 


Mr. Vrnik, for his part, recently was 
named 1 993 Manager of the Year by analysis 
firm Momingstar Mutual Funds. He steered 
the Magellan to a 25 percent gain over the 
calendar year, trouncing the S&P 500 by 14 
percentage points. “Not since the last of 
Peter Lynchs true glory days in 1983 had the 
fund pounded the mdex by such a margin," 
gushed Momingstar. 

The only known study to analyze perfor- 
mance as a function of change in portfolio 
management, carried out several years ago 
by the U.SL fund data group CDA/Wiesen- 
berger, appears to behe the Magellan exam- 
ple. Surveying 40 diverse equity funds, the 
study showed that top performers fell to 10 
percent bekw the norm in the five-year peri- 
od after their managers had left Conve rsely, 
returns from poor performers soared from 


era tend to stay poor performers, said Ste- 
phen Savage, formerly with CDA/WIesen- 
berger, now editor of the Value Line Mutual 
Fund Survey, based in New York. “Also, 
poor-performing funds which do change 
managers tend to become among the top 
performers in their sector. 1 think the reason, 
generally speaking, is that if you’re suffi- 
ciently motivated to change managers, 
chances are you’ll go out and find a good 
one.” 

Drawing an analogy to restaurants, Mr. 
Savage said that a fund company's overall 
style was of paramount importance when 
judging a manager’s effect on performance. 
“Take the type of restaurant whose product 
is rigidly defined by portion control and 
menu control, with reapes followed to the 
letter,” he said. “In a place like that, it 
doesn’t really matter who’s cooking. 

“But take a restaurant where the chef 
creates dishes and seasoning s according to 
his own daily whim and still turns out great 
food night after night," continued Mr. Sav- 
age. “Obviously, the loss of the chef would 
have a much greater impact on the second 
restaurant than on the first It’s the same 
principle with funds. And that level of dis- 
parity between styles of fund companies 
really does exist” 

Mr. Savage said he felt that all retail 
investors should keep track of who is j 
iug a fond in which they have ini 
something that is becoming easier in the 
United States. In July, the Securities and 
Exchange Commission made h mandatory 
for funds managed by one person to disclose 
that ^person’s name in their animal prospeo- 

state that foct^foii^analysts have lauded 
the move, bat others point out dial if a 
change in management occurred a month 
after the prospectus was sent out sharehold- 
ers wouldn’t have to be notified for another 
11 months. 

One example appearing to support the 
CDA/Wdsenbereer study is the $137 mil- 
lion American Heritage Fund, winch after 
losing more than 42 percent between Febru- 
ary 1986 and February 1990, derided to 
switch managers. Since Hriko Thieme took 
over the reins on Feb. 1, 1990. the fund has 
gained more than 92 percent (through March 
31), or an annualized return of 16.98 percent 
despite being down by about 17 percent this 
year. 

Some investment professionals, however, 
swear by the axiom, “It’s the markets, not 
the manager." Burton Berry, president of 
DAL Investment Co. in San Francisco, said 
he paid “little or no attention” to who ran 
the portfolio when assessing a fund’s pros- 
pects. 

“We reaBy couldn't care less who the port- 
folio manager is,” Mr. Berry said, “and 
here's the reason: Most of them have a 
personal style. Some like bag cap stories, 
some like small cap, some like an interna- 
tional mix, or maybe a link gold They might 
be somewhat limited by the prospectus or 


Some See Rough Rule for Hedge Funds 


By Rupert Bruce 


A FTER a bull market in 
bonds and equities that 
some say has been going 
on for more than 10 
years, many investors are looking 
to park their money outside these 
traditional investment areas. As a 
result, so-called non traditional in- 


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vestment management is growing 
in popularity with both private in- 
dividuals and pension funds. 

The best-known form of this is 
the hedge fund, raw of which is 
investing guru George Soros’s 
Quantum Fund The other rapid 
growth area is known as “private 
equity” and embraces such areas 
as venture capital, lev era] 
buyout investments, and 


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that are not traded on exchanges. 
Private investors d o mi nat e hedge- 
fond investing, while pension funds 
are building up their holdings of 
private equity investments. 

But tiie growth of hedge funds 
faces at least a challenge following 
the rocky ride that European bond 
and other markets have given them 
during the last few months. As 
hedge funds* assets u nde r manage- 
ment have grown enormously dar- 
ing the last Tew years, so the defini- 
tion has become less precise. 
Russell Private Investor Services, a 
division of Frank RsssdL the in- 
vestment consultancy, has seen its 
database of onshore American in- 
vestment partnership hedge funds 
grow from 25 nam es to more than 
300 during the past ax years. 

At the same time, the definition 
has become blurred and no longer 
just covers funds that take long and 
short positions in the equity mar- 
kets, Inn also those that make high- 
ly leveraged plays in many interna- 
tional markets, market-neutral 
funds, and others. 

Market-neutral funds are those 
which in theory are immune to 
broad market fluctuations. A short 
position is one where a fond sells 
an investment it does sot own in 

the expectation of buying it bade at 
a lower price, thus making a profit 
A long petition is the purchase of 
securities in the expectation of their 
value in creasing. 

A recent Frank RusseH-Gold- 
wmn Sadia survey showed that the 
77ft higgHB p>nnnn funds hi the 
United Stales and Canada had 
about $36 frnKnn among them in 
private equity assets. And, more 
im por tant }y L they planned to ac- 
quire more. 

W HAT each of these in- 
vestment areas has in 
common is that they 
should not be too ex- 
posed to the vicissitudes of the es- 
tablished investment markets, in 
the case of hedge funds, this is 
generally because they can profit 
whether markets rise or fall, where- 
as private equity assets tend to be 
less exposed to the swings of senti- 
ment on investment exchanges. 

“We are wefl into an advanced 
bull market that many people 
would agree sinned 2 decade ago, 
said Donald J. Hardy, a director ol 
Russefl Private Investor Services, 
based in Tacoma, Warirington. 
“Many of these investors have been 
successful in the last decade. And 
many of them, because they have 

been snccessfnL have wnmg a lot of 


the indfidendes out of the public- 
ly traded markets by researching, 
by negotiating fees, and so on. 

“So these lug funds have tended 
to continue to look for areas where 
they can get value added and that 
has led them to the alternative in- 
vestment area.” 

W HETHER hedge 
fund growth is 
checked now after the 
reversals of recent 
months remains to be seen. If noth- 
ing rise, big falls in some funds 
have been atrocious publirity for 
the managers. 

Richard Atkinson, deputy man- 
aging director erf' IFM Asset Man- 
agement, a London-based hedge 
food manager whose funds actually 
made money in February, said hie 
has noticed that new hedge fond 
manag ers are finding it harder to 
raise money than previously. 

"My observation,” be said, “is 
that die old stages in this business 
are making ground relative to the 
new boys.” 

Jonathan Bren, New York-based 
managing director of Alpha Asset 
Management, a fund-oMunds 
manager, says be thinks there win 
be more emphasis on risk manage- 
ment and diversifying across a 
range of hedge managers with dif- 
ferent styles. He adds that some of 
the money that has recently flowed 
into hedge funds mil now flow out 
Mr. Hardy believes the critical 
fallout may be yet to crane. 

T think it is not unreasonable,” 
be said, "to hypothesize that at 
some point there may be some part- 
nership that gets into trouble, be- 
canseinvestment partnerships are 
bring formed dafly here in the 
United States. There will be some 
market reverses and some people 
who are thinly capitalized, or who 
have taken extreme positions in the 
hope of major gains, who either 
withdraw from the business, or 
merge with others.” 

As to whether either private eq- 
uity or hedge funds wul become 
mainstream investment areas for 
the public, Mr. Hardy has his 
doubts. The hedge funds will be 
restrained by Securities and Ex- 
change Coramissioa legislation, be 
said, while private equity requires 
more “due diligence” than most 
private investors are qualified for. 
But he does think that many mutu- 
al funds are starting to use hedge 
fund-type techniques as they use 
derivatives to take long and short 
positions in markets. 


Fund Management Styles 


Page 17 

Top Down’ or ‘Bottom Up’ In 
emerging markets? 

Index vs. actively managed funds 
Comparative charging structures 


the fund company, but it’s a personal style 
nonetheless. 

“The key point is that styles don’t change, 
but markets do,” continued Mr. Berry. 
“Guys that become herosjust shine brightly 
when the market focuses on their particular 
style. When the markets change, they’re not 
so great. The conventional wisdom is to look 
at the fond manager, but I'd just as soon look, 
at the bottom line.” 

Mr. Berry cited Donald Yacktman, win- 
ner of the Momingstar Mutual Funds 1991 
Manager of the Year award, to illustrate his 
view. During the 1980s and early 1990s, Mr. 
Yacktman rtioinpririieH himself as a lwuiinp 
portfolio manager, griding the Selected 
American Shares fund to a 16.6 «rmnal gam 
over nine years, versus 14.7 percent for the 
S&P 500. 

In March 1992, Mr. Yack tman left the 
Selected American Shares fund to start his 
own fund, called The Yacktman fund, which 
was launched four months later. From its 
inception through March 31, the Yacktman 
fund, with current assets of about $150 mil- 
lion, has lost 436 percent, versus a gain of 
825 percent for the S&P 500 over the period. 

Nothing happened to Yacktman,” said 
Mr. Beny. “But the market rotated. His style 
didn't fit anymore.” 

Mark Adorian, manag in g director of the 
London fund-tracking firm Micropal, point- 
ed out that if current industry trends contin- 
ue, chang in g a fund manager will commonly 
affect a wide range of funds, not just one. 
The reason is the advent of such structures as 
Hub & Spoke, developed by Signature Fi- 
nancial Group of Boston, Winch allows the 
assets of marry private-label “spoke" funds 
to be pooled into a single-manager “hub” 
fund with the investment objective 

“The- number of funds keeps growing,” 
said Mr. Adorian, “but over time we’re go — 
to see consolidation at the source, which 1 
mean fewer fund managers.” 


The Money Report is edited by 
Martin Baker 



Star manager Peter Lynch departed in May, 1990, but Fidelity's Magellan Fund has yi 
^ continued to perform weH under both Morris Smith and current manager Jeff VInik. $ 


Fidelity Magellan Fund 


el 


I 


to 


American Heritage Fund 



Manager Heiko Thieme transformed American Heritage into a winner after taking 
over in February, 1990. But the fund lost 17.65 percent In trie year's first quarter. 


The Yacktman Fund 



Selected American 
Shares 



7/,~:92 - 2/3 US- 
-4.36% 


Manager Donald Yacktman had groat success with Selected American Shares, but 
his own fund has faltered. 




Source: Momtogstar Mutual Finds 


lH— fa— I WmMT " i »"w 


Just Who Is Watching Your Cash? 


While no global data on fund managers’ 
vital statistics are known to exist. Chicago- 
based analysis firm Momingstar Mutual 
Funds recently published the finding* of a 
study of US. fund managers. Some of ihe 
results are surprising. 

Belying an image that has gained populari- 
ty in recent years, Momingstar found that 
most fund managers are hardly fresh-faced, 
twentysomething whiz kids jnst out of gradu- 
ate school. Rather, the average U3 portfolio 
manager is 44.3 years old and has been in the 


business for 10 years. Thirty-five percent of 
fund managers are in their 30s, 33 percent are 
in their 40s, and 23 percent are in that 50s. 
Women now account for one fund manager 
in 10. 

Three-fourths of all fund managers have 
advanced degrees: Nearly 60 percent have 
Masters of Business Administration degrees, 
and 33 percent have earned the Chartered 
F inancial Analyst distinction. Less than 5 
percent, however, have earned doctorates. 

P.C 



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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 9-10, 1994 



Page 17 



THE MONEY REPORT 


Emerging Markets: 
2 Rival Strategies 


m mm. 


Betting on Emerging Markets 


Rupert Bruce 


I nvestment managers 

wh o pm their money in 
au^gnig markets sell their 
funds under two labels: 

■ tfPli own Md “bottom-up.” 

• Each refers to a style of investment 
mana gement, and both schools are 
7 ' .confident that theirs is a suitable 
way of manag ing money in these 
somewhat exotic markets. 

[ But which is the best? 

- ■ In deciding which stocks to buy. 

Top-down investment managers 
firet consider which stock markets 
they are interested in by judging 

.the region’s or country's macroeco- 
nomic state and the overall stat e of 
the_ market. They then consider 
.which sectors — automobiles or 
holds, for ins Lance — and only 
iben do they look at individual 
- ; .stocks. 

■ Bouom-up managers, on the 
- .other hand, look at slocks first. 
. Obviously, when they are examin- 
ing the companies’ prospects they 
.take a keen interest in the sectors 
■and countries they are in because 
.these will play a pan in the compa- 
nies’ fortunes. But they win some- 
times buy slocks even if they do not 
'like the macroeconomic and indus- 
try outlooks. 

- . • Various investment management 
[companies swear by one or another 
■of these styles. However, Rob Hall, 
. a research analyst at Frank Russell 
International in London, a consul- 
- ■‘nmey firm, says there is no conclu- 
sive evidence to bade one or the 
- .other. Of the three longest-standing 
- man agers. Capital International 
[and Templeton Investment Man- 



agement are bottom- up managers, 
while Emerging Markets Mj 
ment is top-down. These are ] 
bly the only managers wit 
enough track records for any re£ 
soiiable analysis, and yet they have 
so many funds on the market that 
there is no dear winner. 

At Capital International Inc,, ex- 
ecutive vice president Shaw Wa- 
gener says: “Capital is a bottom-up 
man a g er — that is true in emerging 
markets or in developed markets — 
and we have a belief that investor 
returns have some relationship to 
fiie quality of the companies we are 
invested in. That is the way we have 
operated for 60-odd years.” 

Mr. Wagener says the bottom-up 
style has served him well in Brazil 
Capital International has had a 
large position there for about two 
ana a half years. It bought compa- 
nies that it saw were performing 
very well despite poor political and 
economic conditions. Top-down 
managers, be says, would have 
tended to stay away. 

The style failed him in Malaysia 
in 1993, however. The top-down 
m ana ge rs bought there, he says, be- 
cause economic prospects looked 
so bright, but he could not find 
stocks cheap enough to tempt him. 

Antoine van Agtmaei, president 
of Emerging Markets Manat 
meat, says: “I believe, having i 
sen a top-down style, that in emerg- 
ing markets top-down as a first cal 
makes a lot of sense: There are a 
ample of reasons for that One, the 
evidence shows that a very large 
proportion of the return in emerg- 
ing markets is due to country allo- 
cation. The second point is that 
because of accounting differences. 



To Manage, or to Let the Index Decide? 


Source: Maopal 


to compare stocks between markets 
is very difficult at this point. Yon 
cannot compare the price earnings 
multiple of a Telmex [Mexico’s te- 
lecom company] and a Philippine 
Long Distance Telephone. You can 


B 


OTH schools have their 
backers, but none go so 
far as to totally discount 
the other. Many of the 
most dedicated advocates of a par- 
ticular school admit that there is 
merit in the other. 

Mark Mobius, a director of Tem- 
pleton Investment Management 
(Hong Kong) and bead of itsemerg- 
ing markets team, says: “The jury is 
stiB out on fins one. Nobody knows 
which is best including ourselves.” 
He added that whenever erne is 
looking at buying emerging mar- 
kets stocks and considering their 
earnings prospects, it is impossible 
not to take account of political and 
macroeconomic factors. 

Mr. Mobius has been criticized 
for having up to 30 percent of Us 
$5 biffion under management in 
cash recently. He said he has taken 
this stance not because he has made 
a j udgmen t about American cash 
flooding out of emerging maAet< 


[mananoaat HenU Tribune 


— a macroeconomic factor that 
would make him a closet top-down 
manager — but because be has 
found that there are fewer and few- 
er cheap stocks around for him to 
buy. 

“We have said to people the fact 
that we are in cash is because we 

are not finding >ha kind nf bar gains 

that we like,” he said. “And it is a 
gpod tiling that we are in cash. 
When the correction cranes along 
we will be able to pick up bar- 
gains.” He is prepared to go up to 
SO percent in cash and stay these 
for a year if that is what it takes to 
fmd value. 

Mr. Mobius adds that, despite 
the different styles, he remembers 
sitting down with Mr. van Agtmafl 
and comparing portfolios — only 
to find they head many of the same 
stocks. 

Mr. Hall said it is mere impor- 
tant that an investment manager 
pick a portfolio in a way that is 
consistent with his chosen style, 
than whether he is a top-down or 
bottom-up manager. 

“The investment manager must 
have a specific philosophy about 
where he is going to best the mar- 
ket,” he said. “And then you check 
that Us approach matches his port- 
folio.” 


Before Investing, Check the Charges 


By Digby Lamer 


T HE high management 
fees sometimes levied by 
mutual funds can give 
the impression that mak- 
ing money is an expensive business. 
■When a fund fails to deliver it can 
-be doubly hard to justify the cost 
[ Apart from those with enough 
financial clout to strike a private 
ideal with a fund manager, the only 
choice open to most mutual fund 
-investors is to pay up or stay ouL 
; The good news is that things arc 
changing. Increased competition 
for business and the growing real- 
ization that investors find charges a 
turn-off is bringing value-for-mon- 
ey to fund management. 

[ The main target for change is the 
*ont-end load traditionally levied 
pV fund managers worldwide. This 
one-time fee usually covers com- 
mission paid to a broker and is 
deducted from the amount invest- 
ed. In Britain, where front-end 
loads are still widely used, the aver- 
age fee is about 5 percent Reduc- 
ing the original investment in this 
way inevitably lowers the profit in- 
vestors can expect to make. 

• American fund managers are the 
ones bringing a fresh approach- 
Jadde Swift of analysis firm Mom- 
ingstar Mutual Funds in Chicago 
says this is mainly because of the 
growing number of players in the 
'American market. 

[• “The universe of funds has 
grown a great deal and so has the 
[number of managers.” she said. 
■‘■This means managers have to 
■work harder to get assets and to 
keep them. Creating a range of 


share with different charg- 
ing structures for the same funds 
increases the chances of finding 
something to sort the needs of each 
investor.” 

Erick Kan ter. vice president of 
the In vestment Company Institute, 
a trade group based in New York, 
Hmwt the decline of front-end load- 
ing from the middle of the 1970s. 


charges readied a peak of 8.5 per- 

The main target 
for change is the 
front-end load 
tradhionallylevied -i ■ 
by fond managers 
worldwide. 


cent,” he said, “direct marketing 
has become increasingly popular. 
The broader range of distribution 
channels has boosted competition 
and given investors a wider 
choice.” 

A beneficial side effect of this 
tread is that the front-aid loads 
still levied tend to be mnch lower 
than the 1970s peak and are usually 
around S percent. 

But the various charges now of- 
fered in the United States makes 
the already-difficult task of choos- 
ing a fond even harder. The tradi- 
tional front-end load plus “12bl” 
— the Manual management charge 
name d after the SEC regulation 
governing it — still exists; but so 


too does the no-load plus 12bl, the 
back-load plus L2bl, the level-load 
plus 12b 1 and several others. 

Apart from the no-load funds, 
on which no commission is paid, 
most other fee structures simply 
offer a new approach to cramms- 
sion payment. 

Managers running back-loaded 
funds, for example, cover the com- 
mission costs themselves. Uns is 
finally recouped from the investor 
when the investment is cashed in. 
This means the broker still receives 
an up-front commission payment 
but nothing is deducted from the 
amount invested. 

The inroads being made into the 
American nmket by no-load funds 
is also encouraging brokers to be 
room flexible over commission pay- 
ments. Otherwise they risk being 
squeezed out of the market alto- 
gether. 

Level-loaded funds have no 
front-end fees but cany a higher- 
than-average 12bl charge. The bro- 
ker receives the same amount of 
commission but it is spread over 
the term of the investment. 

Miss Swift warns it is necessary 
to calculate the overall cost charges 
based on how long you expect to be 
invested. 

“It may seem obvious to opt fora 
no-load or low-load fund but some- 
times they can be deceptive,” she 
said. “If thoc is no load but a 1 
percent 12bl charge, instead Of a 
front-aid load and 0.25 percent, it 
could work out cheaper m the long 
run to have paid the load up-front. 

“Of course, cost shouldn’t be the 
prime consideration when chosing 
a fund, but it’s an important factor. 
It can seem an overwhelming task 


but people need to educate them- 
selves and be certain of their invest- 
ment objectives." 

Despite the sharp growth of no- 
load and low-load rands in the 
United States and Canada (only 
around half of all new fund invest- 
ment is stifl front-end loaded) other 
markets are proving tougher to 
crack. 

In Europe this is hugely doc to 
the strong presence of intermediar- 
ies. Charles Schwab & Co„ the 
American discount broker, has in- 
troduced no-load funds in Europe 
through its International Fund 
Source service in London, but the 
firm admits that price competition 
is evofvingsfower in Europe than it 
has in the United States. 

Schwab, which now offers 50 no- 
load fmxis to non-U .S. ritzens, said 
it received more than 100 investor 
inquiries a day during the two 
months after the service was 
launched. 


I 



By Conrad de Aenfle 

NDEX funds leaped to pop- 
ularity during the 1980s by 
outperforming their actively 
managed rivals. By passively 
buying shares' in the component 
companies of an index and forgo- 
ing the costly research used to 
make investment decisions, index 
funds can be run much more 
cheaply. That leaves more money 
fra their shareholders. Bat ova the 
last two or three years, index funds 
have underperformed and fund 
manag ers have been redeemed. 

In the three months and 12 
months through March 31, funds 
that trade the Standard & Poor's 
500 index have done worse than 
those in all other general equity 
categories followed by Upper Ana- 
lytical Services. Ova the last 10 
years, however, they have done bet- 
ter than all other groups. 

Some fund companies believe in 
indexing and some don't. One that 
has yet to indude an index fund in 
its product tine is Janus Capital, a 
rapidly growing no-load fund 
group. 

“The idea has been brought lo 
the table, but it’s not a natural fit 
with what we do: bouom-up fun- 
damental research,” said Chrissy 
Snyder, Janus’s spokeswoman. The 
philosophy at Janus is that market 
moves are not predictable and that 
beating the averages and the com- 
petition depends on picking the 
right stocks. 

‘That’s one part of the picture 
we can monitor/ 1 Mrs. Snyder said. 
“If you’re indexing, you’re not do- 
ing that You're a victim of what’s 
causing market gyrations at any 
particular time.** 

The feeling is much the same at 
Massachusetts Financial Services. 
“We have one of the oldest equity 
research departments in the indus- 
try,” said Jam Redly, the company 
spokesman. “We’ve relied fra sev- 
eral decades on research to make 
stock selections and provide supe- 
rior results.* 1 

Unlike Janus, MFS funds carry 
sales charges used to pay the inter- 
mediaries who sell diem. With ex- 
pense ratios on index funds 
amounting to as little as 0J2 percent 
of assets, a fund that carries a sales 
load would not be able to compete 
with no-load index funds. Tf you 


Charting Index Fund Performance 1 





Source; Upper Analytical Services 


are compensating financial advis- 
ers to sell your product and have to 
charge a commission to do that, it 
is more difficult to offer that type 
of product, 1 * Mr. Redly conceded. 

the leader in index funds is Van- 
guard Group, which is perhaps the 
industry’s lowest-cost operator. Its 
fund that tracks the S&P 500 has 
been around for close to 20 years 
and is the oldest index fund in 
business. Altogether Vanguard 
balds 516 billion in dient money in 
funds tracking a dozen indexes. 

Vanguard’s Brian Mattes says 
that interest in its index funds stays 
remarkably stable through all sorts 
of ma r k et environments. The 


E le who buy them tend to have 
irger accounts and be more so- 
phisticated investors who are tm- 
fazed by market turbulence. 

“The motivation to buy an index 
fund is all different,” he observed. 
“Indexers say the markets are go- 
ing to be markets forever: They’ll 
go up and down, but in the long run 
they are gang to outperform three 
of every four otba funds, so it 
doesn’t mafia what day I buy iL 
They tend to be long-term inves- 
tors, not driven by emotions, 
whether tbeir own or the market’s.” 
Mr. Mattes said that the compa- 
ny's index funds tend to be more 
popular than other funds after 
stocks have fallen and that “with 
the way the markets have been late- 
ly. we’ve had a lot of money coming 
into the funds.” 

He said that Vanguard’s index 
funds have outperformed the com- 
pany’s own actively managed funds 
with the same objectives. “It bears 
oat over a long period of time," be 
said. “You still find index funds 
come out on top, but you have to 
use the right index.” 


Failing to do that is one reason 
that index funds can seem to be 
doing better or worse than others. 
In times when shares of smaller 
companies are outpacing those of 
blue chips, actively managed funds 
win have higher returns than the 
typical index fund, which trades 
the large-capitalization S&P 500. 

“It’s really hard to study the per- 
formance of index funds because 
one has to determine the proper 
benchmark with which to compare 
them,” said John Rekenthakr, edi- 
tor of Morningstar Mutual Funds. 

“In the 1980s, the S&P 500 per- 
formed very wdl compared with 

small er uA stocks, and outper- 
formed most international mar- 
kets, as wdL One looked at the 
success of S&P 500 index funds — 
that was about the only thing being 
indexed — and it was easy to make 
the step that indexing is successful 
investing. In the last three years 
that index has underperformed 
most equity funds, and buying S&P 
index funds was relatively unsuc- 
cessful investing. Just about every 
asset dass outperformed the in- 
dex.” 

For investors who want to put 
their money into blue-chip stoats, 
Mr. Rekenthakr said, indexing is a 
sensible way to do it “It’s a good 
way of buying large UJk stocks,” 
he advised “If you compare the 
results of the Vanguard S&P 500 
fund with its true pea group — 1 
blue-chip funds — Vangui 
stands up welL” 

But blue chips are usually the 
wrong place to be, said James 
Stack, editor of the newsletter ln- 
vesTech Market Analyst. That’s 
why he shuns index funds. 

“I definitely prefer actively man- 
aged funds to index funds,” he de- 


clared. “Most broad-based indexes 
will lag the broader secondary 
stocks ova a long period. The bot- 
tom line is if you’re in a period in 
which lnrge-capi talizati on stocks 
outperform small caps, that's when 
index funds gain popularity. When 
you enter a period m which small 
caps outperform blue chips, that's 
when index funds lose popularity 
and in many cases are merged with 
other funds or eliminated.* 

Mr. Stack noted that while index 
funds suddenly found favor during 
the mid-1980s, it was not their first 
time under the spotlight. 

“They were the rage in the eariy 
1970s.” he recalled. “They were de- 
signed to mirror the Nifty 50, the 
most popular and supposedly saf- 
est blu&chip stocks. What hap- 
pened was a bear market that 
washed out the supposedly safe in- 
dex funds, but in addition those 
stocks recovered slower in the next 
bull market. 

“People tend to think that index 
funds provide safety, when in reali- 
ty what you’re really buying tends 
to be larger capitalization. If you're 
in & bear market where large-cap 
stocks are hit harder, those index 
funds will fall farther.” 

The idea that someone is at the 
controls is a selling point for pur- 
veyors of actively managed funds 
during times of market turbulence. 

“People who are in a market like 
this would feel more comfortable 
with active management,” said 
Mrs. Snyder of Janus. “They 
wouldn't fed like they were on the 
sidelines watching something un- 
controllable.’' 

Mr. Mattes of Vanguard 
counters that while there is a ten- 
dency to think that managers can 
raise cadi or make other invest- 
ment choices to protect sharehold- 
ers during a decline, history shows 
that they often are the most fully 
invested at market tops. Also, to 
meet redemptions, they are often 
forced to seb their best and most 
liquid holdings daring severe 
drops. 

Mr. Stack agreed that the sorts of 
stocks held by funds that do not 
index often fall the most in bear 
markets, brat he pointed out that 
most of the time the market moves 
higher. That’s why shares of small- 
er companies have done better than 
Woe chips ova the past 20 years. 


N SOUTHEAST Asia, the 
picture is more complicated. 
Jim Mellon, of the Regent 
Pacific Group in Hong 
Kang, outlined three factors hold- 
ing back the spread of mutual 
funds in die Asia/ Pacific region. 

“The first is that only a few parts 
of Asia have recently become afflu- 
ent enough to consida anything 
other than deposit accounts as a 
means of saving,” he said. “The 
second is that Asian culture tends 
to place stock exchange investment 
alongside horse raringas a kind of 
amusing distraction, rurally is the 
widespread use by fund managers 
of the front-aid load.” 

Mr. Mellon believes that Asian 
investors are reluctant to sacrifice 
up to 5 percent of their savings by 
moving mto front-end loaded mu- 
tual funds, do mafia bow good the 
possible gains may be. He added 
that Regent Pacific has faced an 
uphill struggle even in establishing 
a no-load fund in Aria. 

“The cost has been enormous in 
trying to get information about 
what we do into people’s homes,” 
he said. “Ours was the first autho- 
rized no-load fund offered to the 
public here, and a year ago we were 
only receiving about 10 responses 
each day. That has now risen to 
150.” 

But despite some optimism, Mr. 
MeQon doubts that Europe and 
Asia will see no-load and low-load 
funds penetrate as deeply as they 
have in the United States. So far, 
only one other manager has de- 
clared an interest m marketing no- 
load funds in Hong Kong, andhas 
yet to launch one. 

“The tide has turned, though,” 
Mr. Mellon said. “And managers 
recognize the marketing potential 
of dropping front-end loads in an 
already saturated market” 


Reading Matter 
On Derivatives 

Everything from Hillary Rod- 
ham Clinton's commodities futures 
investments to the secretive strate- 
gies' of mnltibillkm-doflar hedge 
funds, options and futures are cur- 
rently front-page new. 

But getting a grip on “deriva- 
tives,” as they’re known, and how 
they work, is more than a leisurely 
read. Managed Account Reports, a 
publisher with offices in New York 
and Surrey, England, aims to throw 
some light an the situation with a 
series of books and reports. The 
publications range from such be- 
tas’ fare as “Getting Started in 


1 to titles for professionals, 
such as “High Performance Fu- 
tures Trading." 

For a catalog, call (212) 2 1 3-6202 
in the United States, or (44-81) 
3304311 in Britain. 


Ermltage Fund: 

A Clarification 

Ermitage Management (UK) 
Ltd. has requested a clarification 
rat a report fast month that its In- 
terest Rate Strategy Fund was 
spring a return of 8 percent annu- 
ally, calculated in Deutsche marks. 

According lo company spokes- 
man Paul Moulton, the fund’s in- 
vestment objective is to achieve 
capital growth with low volatility, 
and to achieve a return substantial- 
ly in excess of 8 percent. 

There are no guaranteed returns 
from the fund. 


Are Expat Workers 
Living It Up? 

Depending on where one is post- 
ed, being assigned to an expatriate 
corporate position is often per- 
ceived as a hardship worthy of gen- 
erous benefits. But a recent survey 
shows that many human-resources 
executives — those who oversee the 
management of expatriate employ- 
ees — feel those benefits have got- 
ten out of hand. 

More than half (52 percent) of 
114 human-resources executives 
polled by Runzheiiner Internation- 
al, a Wisconsin-based manage- 


ment- consulting firm, agreed that 
expatriate employees are ovocom- 
pensated, although there was little 
consensus on how to chang e the 
situation. 

“Many expats live far better 
while on international assignment 
than they do at home,” said S. En- 
ders Wimbush, a senior consultant 
at Runzbeimer. “This is because 
many have convinced tbeir compa- 
nies that the process of expatriation 
is so wrenching and disruptive to 
their normal lives that they deserve 
to be paid well beyond the cost of 
living differences.” 

Many of those who responded to 
the survey were quite clear on why 
they feared to attempt cutting back 
on expatriate compensation pack- 
ages. Forty percent said they feared 


“irate expatriates”; 16 percent 
feared lack of support from superi- 
ors and poor performance by the 
expatriate workers, and 15 percent 
said they woe afraid of die losing 
the expatriate employees altogeth- 
er. 

For complete survey results, con- 
tact Runzhama at (414) 767-2200. 


2 Funds Reopen 
To New Investors 

One encouraging note amid the 
turmoil of the U.S. stock market 
last week: On Wednesday, the Mu- 
tual Shares and Mutual Qualified 
funds, two top “value” oriented 
funds, reopened to new investors. 
Both had been dosed since 1989. 


The funds are ran by Michael 
Price who, as a value investor, 
seeks out companies whose shares 
are underpriced, taking stakes in 
an array of firms that are merger 
candidates, inexpensive asset 
plays or even emerging from bank- 
ruptcy. 

The Mutual Shares fund had a 
total return of 20.99 percent in 
1993 and was selling at S77J2 a 
share last Tuesday. Minimum in- 
vestment is 55,000. Mutual Quali- 
fied, its smaller sister fund, re- 
turned 22.71 percent last year, and 
was seflmg ai 52623, with a mini- 
mum investment of 51,000. Both 
funds are no-loads. 

For more information, call (800) 
553-3014. or (201) 912-2100 in the 
United States. 


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Page 18 



SPORTS 



Step Right Up:AnInside Guide to the Swing of aLifetime (of Work) 


By Joe Ward 

New York Times Sendee 

NEW YORK — It’s just three years shy of a 
century since Willie Keeler revealed his time' 
honored philosophy on hitting. After batting 
.432, the diminutive outfielder explained: “Just 
hit 'em where they ain't" 

It sounds simple enough, and ultimately it 
makes sense. 

But if it were that ample, would owners be 
forced to pay so modi for men who foil so 
often? Would we pay to watch them? If it were 
that ample, shouldn't Michael Jordan, one of 
the world's greatest athletes, behaving an easier 
time of it? 

' Keeler’s axiom tends to ignore the obvious. 
How does one hit the ball to begin with? And 
how is it done with authority? 

Ted Williams, the last player to hit .400, has 
expended a lot of his post-career energy ex- 
plaining why bitting a baseball is about as hard 
as it gets in sports. “Nothing," Williams said in 
his book, “The Science of Hitting,*^ “has as 
many variables and as few constants." 

Porter Johnson agrees. As the chairman of 
the physics department at the Illinois Institute 
of Technology — and a baseball junkie — John- 
son has studied and lectured cm the subject. “The 
remarkable thing I see as a physicist is that those 
guys can hit the ball at aU," he said. “A batter has 
to judge the location and when the ball will be at 
a particular point at a particular time with in- 


credible accuracy. And he has to do it in a 
remarkably short period of time, about .4 sec- 
onds against a fast major league pitcher.” 


completely separate from the swing itself. Take 
a short stride, keep the hands and weight back, 
then decide whether or not to swing. 


For a substantial portion erf the 97 years since 
Keeler’s remarks, hitters have been left to fend 
for themselves regarding such things. In fact, ft is 
only in the last two decades that each major 
league team has bad a full-time hitting instructor. 

What they teach differs, reflecting the variety 
of theories on just how to hit a baseball. There 
is the head-down, release- the- top-hand style of 
Walt Hriniak’s Chicago White Sox. There is the 

wait-and- react philosophy of the two-ume 


“The machine was developed," Schmidt said, 
‘to teach a failter not to react to' what they see 


John Olerud of Toronto, last year's .American 

Tiffl g y g ho nin g champi on, is one of the short- 

stride believers. Olerud, who fhrted with a .400 
average for a good portion of the season, says he 
is “always striving to keep that snide down, to 


Gene Tenaca the Blue Jays’ bench coach, says 
of Mditor “Well, he’s a freak. He uses his hips, 
legs and hands well but it would be difficult to 
teach because he is'hitting from a dead standstill 
To generate bat speed you need some move- 

. J. ■ .If, U D,.lhA« 


from the pitcher but to gel into position to wait 
on the baLL” In other words, in an activity that 


requires speed and quickness, be patient. 

The Phillies, though, weren’t buying his the- 


stay compact so you have as much tune to wait . meat backwards, just like a golf swing. But he is 
and see the ball before you have to swing.” successful, so you would never change that.” 
The disadvantage of a long stride is that it 


needs to be started sooner, often before the 
speed of the pitch is apparent. Thai causes the 


World Series champion Blue Jays and the at- 
adc 


tack-the-ball bravado of the National League 
champion Phillies. All of the theories have their 
ardent followers, and their share of successful 
laboratory mice to justify their claims. 

What all of the instructors agree on is that the 
hitter's body and bat should be in the best 
position possible when it is time for contact. 
But what that position is. and how to get there, 
is what leads to the arguments. 

In fact, the debate could be heard on a recent 
spring training morning at the Phillies' camp in 
Clearwater, Florida, where the warm tempera- 
tures were raised a couple of degrees when 
Mike Schmidt returned to his old team to hawk 
a batting device that bears his name. 

The machine is designed to reinforce the very 
popular notion that a hitter’s stride should be 


All of the theories have their ardent followers, and their 
share of successful laboratory mice to justify their claims. 


ory or his machine. “The Phillies want an ag- 
gressive movement to the ball" Schmidt said. 
la other words, decide to swing, and then do it 
in one explosive motion. 

The difference in the two theories may be 
undetectable in the blur of the swing. But each 
side is vehement that its way is the Best way. 

it all relates to tuning, and the fan that while 
so many pitches are thrown at different speeds, 
they all look strikingly similar in the first two- 
tenths of a second after they are thrown. And it 
is in the first fractions of a second that a hitter 
has to decide whether to swing. 

It is this problem of timing that has led more 
and more hitters to opt for a short stride as a 
counterattack- 


body’s weight to shift forward too quickly for 
slower pitches, causing the power generated by 
the hips and legs to be released before the bat 
hits the ball. The results are weak ground balls 
or pop-ups. 

Olerud's teammate; Paul Molitor, was the 
most valuable player in the World Series last 
year, and he has taken the short-stride concept 
to the extreme. In fact, Molitor, who believes 
too many players come to the major leagues 
trying to pull the ball instead of waiting and 
using the whole Geld, has a stride that has 

become infini t esimal. 

“I gradually got rid of the movement and it 
helped me take a longer look at the baseball,” 
he said. 


The question, though, is whether to change 
any player’s swing at the major league level 
Most teams believe the best results come when 
a hitting coach works with the style of the 
particular hitter and adjusts it slightly. Bill 
Robinson, who was the Mets’ hitting coach 
from 1984-89, agrees with that approach. “A 
good hitting instructor is able to mold his 
teachings to the individual'’ Ik said. “If a guy 
stands on his head, you perfect that.” 


George Brett, who baited 305 over 20 years 
in the majors, is proof, however, that substantial 
be beneficia l . T worked with Charlie 
Lau for eight years. He changed my swing com- 


pletely,” he said. *T never hit 300 in the minors, 
but I hit . 


300 in the majors 12 or 13 times/ 1 

Brett concedes, though, that being only 20 
years old when he fell under Lau’s influence 
allowed him tune to adjust. And he doesn’t 
recommend teaching the older dogs new tricks. 
Learning a swing, whether it is a batter’s own or 
one that is being taught to him, is a tremendous 
investment in time. 


“Tins is my ninth year in pro ball and I'm just 
starting to understand what's going on.” 

Hriniak is a disciple of Lau, wto died jbrttk 
Hriniak has carried oa that 
tion of keeping the head down, even after 
tact, and kiting the top band come off the bat 

The reason for keeping the head down # 
simple: If the head is lined too soon, the bat, can 
i ^ ijwi g g course, to the hitter’s detriment But 
detractors, like the Boston Red Sox Jutting 
coach, Mike Easier, argue that a head that stays 
down too long acts as a doorstop, preventing a 
good completion of the swing. 

Then there's that top hand. Releasing it, say 
Hriniak and others, allows the bat to travel in 
the ball's path longer— as if there were a series 
of baseballs to hit, one behind the other. The 
effect is to compensate for any mistake the 
batter made in timing. But those who argue 
against it fed it robs the swing of power. 

But that raises the question of which hand 
provides the power. The bottom-handers, like 
the Blue Jays and White Sox, believe the bat is 



led through the strike zone by the bottom 
Ted 


Brian McRae, the Royals’ center Odder, said. 


Yanks Rout Texas, 
New York’s Absent 


'-it'". I - *?-. •’ .. r.. ‘ vTfc. J .•»* • • ‘ - 


The .issoctaicd Pros 

Not in decades had so few seen 
the New York Yankees score so 
much in Yankee Stadium. 

“It’s kind of like stepping on 
their necks when they were down." 
Mike Galkgo said. “That’s what 
we tried to do.” 

New York scored in each of the 
first seven innings Thursday and 
routed the Texas Rangers, 18-6. 
The last time the Yankees scored 


AL ROUNDUP 


that many runs in Yankee Stadium 
was in a 19-1 victory against the 
former Washington Senators on 
April 13, 1955, when the Brooklyn 
Dodgers were beating the Pitts- 
burgh Pirates, 6-1, in Ebbets Field. 

Still not many fans will remem- 
ber Thursday’s big victory: Just 
5,851 showed up for the makeup of 
Wednesday’s rainouL It was the 
smallest crowd at Yankee Stadium 
since Oct 4, 2972, when just 5,210 
attended a game against the Mil- 
waukee Brewers. 

Five Texas pitchers walked nine 
and hit a batter. Kenny Rogers, the 
Rangers’ leader in victories last 
year with 16, was chased after 
three-plus innings. He allowed 
eight earned runs and nine hits. 


Danny Tartabull drove in four 
runs, Mute Gall ego homered twice, 


and Benue Wiffiams hit a three-run 
homer, just the ninth drive into the 
cemerfidd bleachers since Yankee 
Stadium reopened in 1976. 

“I thought the 13th and 14th 
runs we scored woe big runs," said 
the Yankees* manager. Buck 


To ow renders in Fraice 

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Show alter. “They had the momen- 
tum coming back to 12-6.” 

Texas, which had taken a 1-0 
lead, then trailed by 12-1 before 
closing with five runs in the sixth. 

Red Sox 9, Tigers 6: Mike 
Green well, Andre Dawson and 
Tun Naehring homered as Boston 
completed a season-opening, three- 
game sweep at Fenway Park with 
the help of seven extra-base hits. Of 
Boston's 30 hits this season. 16 
have been for extra bases. 

Cecil Fielder and Dan Bautista 
hit two-run homers for Detroit, and 
Lou Whitaker hit a solo shot. 

Twins 7, Angels 4: Scott Erick- 
son gave up 1 1 hits in Minneapolis, 
but still helped Minnesota get its 
first victory. 

Dave Winfield drove in three 
runs and Kirby Puckett two for the 
Twins, who lost their first two 
games to California by a combined 
12-3. 

Erickson allowed 14 runners in 
bYy inning s, but escaped trouble un- 
til allowing two runs in the seventh. 
It was his 50th major league vie- 
toiy. 

Brewers 12, Athletics 2: Bill 
Wegman won his first game since 
May 30, and John Jaha and Kevin 
Seitzer both hit two-run homers in 
Milwaukee. 

Wegman, who lost his last seven 
decisions in 1993 and finished 4-14, 
allowed only an unearned run and 
and five hits in seven innings. Mil- 
waukee, which got 14 hits, beat 
Oakland for the Hth consecutive 
time at home. 

Indians 6, Marinas 2: Winner 
Jack Mortis pitched five scoreless 
innings before faltering in the sixth 
as he made his debut in Cleveland. 

Eddie Murray hit the Indians' 
first home run of the season, driv- 
ing it over the 19-foot-high wall in 



The top-handers, like Ted WS&ams, 
think it is pushed through the zone with the top 
hand. It is just one more part of the debate,- 

Meanwhile. Hriniak has his own two-word 
answer to his critics: “Frank Thomas." Thomas 
has averaged 32 home runs and 117 runs batted 
for the, White Sox for the last three years. .. . 

But in the end, the arguments over the proper 
stride, over which hand is the power hand and 
over how long the head should stay downare all 
secondary to a batter properly seeing what he is 
swinging at. 

“Hitting a baseball is a sensory stimulation 
that is 80 percent visual" says Dr. Donald Tog, 
the head of the Institute for Sports Vision in 
. Ridgefield, Connecticut. Tdg has tested him- 



VihL-j*— «• 


S.i 




■ ' 

,1. A : i • . „••• ’ ►: •- 




It was a race, but the A’s shortstop Mike Bordick, with a throw from catcher Terry Steinbach, tagged Jody Reed before die Brewers’ namer tagged second. 


Rookies Deliver as Braves Overtake Padres 




left leading off the seventh. Murray 


has 442 homers, and is tied wit 
Dave Kingman for 20th on the ca- 
reer list 


The Associated Press 

The Atlanta Braves' starting 
finally buckled. The rookies didn’t. 

. Ryan Klesko singled twice and scored 
once to help Atlanta rally from a 7-4 
deficit, then made way for Kelly, who 
doubled in the 11th inning for hxs first 
mqor-league hit and sewed the go- 
ahead run on David Justice’s single as 
the Braves beat the Padres, 10-8, on 
Thursday in San Diego. 

“The young kids played a big pan 
again today,” said the Braves 1 manager, 
Bobby Cox, after Atlanta completed a 
four-game sweep. “Klesko getting on 
with a push bunt to third base, then 
KeDy getting the base hit in the extra 
innings. If he doesn't get the hit we don’t 
win. Simple as that." 


San Diego rallied from a 4-0 deficit, 
then blew a three-run lead. 


Klesko, who homered in his first two 
games, started the Braves’ rally when he 
aunted leading off therfghth. He scored 


NL ROUNDUP 


when Justice's hard shot bounced off the 
glove of second baseman Bip Roberts for 
an error. Fred McGriff, who walked, 
scored on Mark Lattice's double. 

“Klesko said, ’Do you mind if I 
bunt? " Cox said. “Any way to get on. 
Boom.” 

Klesko singled again with two out in 
the ninth, and Keuy came on to pinch 


run. He moved around on McGriffs 
single and tied the score an Gene Har- 
ris’s wild pitch. 

Atlanta wait up 8-7 on Bill Pecota’s 
pinch double in the 1 0th, but San Diego 
tied it in the bottom of the inning on an 
RBI single by Keith Lockhart, his first 
major-league hit. 

He Braves’ starter, Steve Avery, was 
roughed up for six runs —five earned — 
on four hits in 4W innings. San Diego 
had been blanked by the Braves starters 
for 25 innings. 

Martins l Dodgers ft Chris Ham- 
mond and Bryan Harvey combined on a 
four-hitter and Jeff Conine singled in the 
only run as Florida won in Los Angeles 
.for its first victory of the season. 


The game’s lone run was screed in the 
first inning on a walk and two infield 
hits. Conine’s slow grounder was chased 
down behind the infield dirt by second 
baseman Delino DeShields without a 
play. 


PhBBes 13, Rockies 8: Philaddhia 
won its third straight in Denver when 
Mariano Duncan's go-ahead, three-run 
homer keyed a five-run seventh inning. 

Colorado rallied from a 4-0 deficit 
with five runs in the sixth. But in the 
seventh, pinch-hitter Tony Longntire 
reached on an error, Lenny Dykstra sin- 
gled and relief pitcher Steve Reed 
promptly gave up Duncan's homer. 
Then Ricky Jordan tripled, scoring 
Dave Hollins' sacrifice fly. 


most are blessed with 20-20 vision or better. But 
that, he says, “is only a basic prerequisite l ”onl^ 
one of as many as 30 visual skills that a good 
hitter needs. ‘ 

Those other skills include the ability to make 
timing judgments and to judge space; eye- to 
hand and eye-to-foot reaction time, and conf- 
centra tion, because most of concentration is 
visual There is also that old baseball term 
known as dynamic acuity, which is how dearly 
you see motion, because virion may deteriorate 
when motion is introduced. | 

Bnt what batters need is what Tieg calls 
“muscle memory,” which conditions the body 
to react in a certain way to what it has seen 
And this muscle memory is acquired through 
endless repetition. 1 

Ultimately, though, even good hitters lore 
out to the pitcher 7 out of 10 times. And many 
pitchers add one more factor to the mix: fear; 

With the ball traveling at such high speeds 
and with the knowledge that it has broken 
bones and altered or ended careers, bitten can 
get leery. And the pitchers know it. They also 
know that because of the exactness of a batter’s 
swing, they will benefit if they can make the 
batter pause ctr fKnch and threw the swing out 
of kilter. 

And even if a hitter does everything oorrect- 
fy, the re are no guarantees. In Game 7 of the 
1962 Warid Series, WfllreMcCovey stepped up 
to this plate fori San Francisco with two outs, 
runners on second and third, and the Yankeea £9Cfi ft * 
up, 1-0, in the bottom of the ninth. He got t *p*i*w !■%*** 
good look at a fastball from Ralph Terry and 
took a good swing. Hips, legs ana hands com- 
bined for a line dnve that exploded off his bat 
— right into the glove of Bobby Richardson ai 
second base. Series over. The Giants lose. 

In last year’s World Series, Joe Carter of 
Toronto found himself in a somewhat similar 
situation, his team trailing by a run in the 
bottom of the ninth in Game 6, with runners on 
first and second and one out. Carter also got a 
'good look at a fastball from Mitch Williams of 
the Phillies. A quick swing, and the ball burst 
off his bat and sailed over the wall Series over. 

Carta and the Blue Jays win. 

As Keeler said, hit 'em where they ain’t. 






an 


Joe Ward is the _ 
York Times sports 
hitting instructor. 


The New 
nr and a former 


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Page 19 




filin g* Chinese Stars 
Out of London Race 

i 

The Associated Press 

LONDON — China's record-breaking 
women distance runners on Friday polled out 
of next week's London Marathon, citing un- 
specified health problems. 

The Chinese team had withdrawn Thurs- 
day, without explanation, from Sunday’s Bob 
Hasan 10-kilomeier road race in Jakarta 

London marathon officials received a fax 
Friday from Huang 7hi, general secretary of 
the Chinese Athletic Association, saying the 
athletes had been unable to train recently due 
to “bad health." 

In China, the official Xinhua news agency 
said the runners were injured, but gave no 
de tails 

The statement made no mention of previ- 
ously announced plans for the Chinese team 
to compete in several Grand Prix meets in 
Europe this summ er. 

It was a huge blow to London organizers, 
who had focused their promotion of the April 
17 race on the star Chinese runners. 


Hans Dayl/Tfce AaadMcd PtCB 

to piritogeflia'l»ck-to-backroaiids of 74 od the Augusta National course. 


Gascoigne in London: Devastated 


The Associated Pros 

LONDON — English soccer star Paul Gas- 
coigne, his career in jeopardy following a dou- 
ble fracture of his right leg, flew into London 
Friday to have his leg operated on Saturday. 

a Fm devastated,” the 26-year-old midfielder 
told Britain’s Sky News on the flight from 
Rome to Heathrow airport “Not just for my- 
self but for my country as wdL Let’s hope I can 
be back as quick as posable. The season starts 
in six months' time." 

Gascoigne broke his tibia and fibula Thurs- 
day ^ while tackling a teammate during a practice 
in Rome with his Italian *«»m Lazio. 

“He is gong to be out for several months, 
seven or right at least," said the Lazio team 
doctor, Claudio Bartolini, who accompanied 
Gascoigne to London. “Breaking a leg is not as 
serious as injuring the knee, bat you need to 
give it time to be sure.” 

Bartolini said a metal plate or pin would 
probably have to be inserted into the knee: 
The surgery vriB be performed by Professor 
John Browett, who operated on the knee liga- 


ments Gascoigne tore in the same leg on a 
tackle in the English Football Association Cop 
final in May 1991. It was a similar incident that 
caused Gascoigne's latest injury. 

“He made a normal tackle as 1 was lddring 
the ball" Lazio youth squad player Alessandro 
Nesta told Milan’s sports daily Gazzetta dello 
Sport “I can’t teD what happened exactly, but I 
realized something terrible had happened when 
I heard Paul screaming in pain.” 

• Defending World Cup champion Germa- 
ny, seeking a new opponent after England 
pulled out of a match scheduled on the anniver- 
sary of Hitler's birthday, may play the United 
Arab Emirates instead SOCCCT officials said 
Friday in Frankfurt. 

The ZDF television network said the match 
against another opponent may be held one 
week later, an April 27. 

• Jean- Pierre Bernes, the former general 
manager of Olympique Marseille, was charged 
Friday with fraud related to an investigation 
into die club's finances and accounting. The 
team's president, Bernard Tapie, was charged 
with the same offenses last month. (AFP) 


Faldo and Woosnam in Danger 
Of Having the Masters End Early 


Compiled ty Otr Sn? ? From Dispatches 

AUGUSTA, Georgia — Nick 
Faldo, a two-time winner here, the 
1991 champion Jan Woosnam, and 
old friends and golfing foes Jack 
Nicklaus and Arnold Palmer fin- 
ished their rounds Friday con- 
vinced that this year’s Masters was 
over for them. 

But emerging in fighting form 
from the second round on the Au- 
gusta National course were Dan 
Foreman, who fired a six-under- 
pair 66 for a 4- under-par total of 
140, while Jos^-Maria Olaz&baJ of 
Spain (74-67) and Ernie Els of 
South Africa (74-67) stood one shot 
back at 141. 

Foreman biidied seven holes, in- 
cluding three of Augusta’s four 
par-fives, on the way to his best 
score in nine rounds in the Masters. 

“Thank God it's over,” he said. 
“I didn’t know how long my con- 
centration would last out there " 

Foreman was contending for the 
lead during the final round of the 
Masters last year until he made a 
quadruple bogey on the 12th hole. 

OlazAbaL, whose 67 was his best 
effort in eight Masters, said it was 
hard to concentrate on the course, 
which was again buffeted by high 
winds. 

Still, he said, “I was relaxed and I 
scored well today." 

Loren Roberts shot a 68 and was 
at 1-under 143 after 36 holes. Mike 
Standly rebounded from a first- 
round 77 to shoot 69 and was at 2- 
over 146. Fuzzy Zoefler, considered 
a strong contender here after fin- 
ishing second in his last three tour- 
naments this year, shot 72 and also 
was 2-over. 

Woosnam and Faldo each shot 

73, which pot them at 149. Nick- 
laus, 54, the Masters’ only six-time 
winner, carded a 74 and was at 152 
while a disgusted Palmer, after 
shooting 7S-77 — 155, said, “I don’t 
know why I keep patting mysdf 
through this.” 

For Palmer, who has built so 
much of his legend on victories at 
the tournament in 1958, I960, 1962 
and 1964. it was an unhappily fa- 
miliar situation: this will be the 
11 th consecntive year he has 
missed the cut at Augusta National 
Golf Club. 

Only marginally better posi- 
tioned was (he defending champi- 
on, Bernhard Langer, who repeated 
his first-round result with another 

74. He was tied at 148 with Scott 


Simpson. “Two birds in two days," 
Langer said. “That says it alL” 

After the first two rounds, only 
the top 44 scorers, and all within 10 
shots of the lead, win qualify for 
the final two rounds. A 3 6- hole 
score of about 149 or 150. 5 or 6 
over par, appeared necessary to 
make the top 44. depending on the 
fortunes of Larry Mize, Tom Kite, 
Fulton Allem and the other leaders 
who had afternoon tee times. 

The first-round leaders, who teed 
off in the afternoon, were continu- 
ing the launched by the nan , 
ly morning players. 

Kite started out birdie-birdie 
and turned the front nine in 33, 

27 holes. Mize shot 34 a^^^a^ 
at 6 under. 

Brad Faxon got into the hunt 
with a 34 on the front nine to fall to 
3-under for the tournament, and 
Hale Irwin rattled off four birdies 
on (he front side for a 32, putting 
him at 3-under throngh 27 boles. 

Tom Watson started the day at 
2-under and played the from in 36 
to stay that. Greg Norman, who 
has never won here but came in as a 
heavy favorite, struggled on tire 
front and turned in 1-over 37, pot- 
ting him at 1-under par for (he 
tournament going to the back nine. 

Payne Stewart, at 78-78—156, 
also appeared certain of minting 
the cot, while Johnny Miller was at 
77-73-150. 

Cosiantino Rocca, (he first Ital- 
ian to play on the European Ryder 


Cup team, played the back nine in 
2 under par for a 70. winch left him 
at 149 with Americans John Daly 
(73), John Cook (72) and Fred 
Funk (70). 

Cohn Montgomerie of Britain, 
another European Ryder Cup play- 
er, was among a big group at 150 
that also included Jumbo Ozaki of 
Japan. Montgomerie shot 73 and 
Ozaki 74. ( Reuters, AP) 

■ Earlier, Leonard Shapiro of 
The Washington Post reported: 

When the first round ended, the 
leader board reflected the advan- 
tage of age and experience on this 
storied golf course m the first major 
of the year. 

Past Masters champion Mize led 
with a 4-under-par 68, with Kite 
and Allem a stroke behind. Only 
three players managed to score in 
the 60s and only 16 were under par 
72. Heavily favored Greg Norman 
was two strokes back a group of six 
comprising past Masters champi- 
ons Tom Watson, Raymond Floyd 
and Seve Ballesteros, and Vijay 
Smg h and Tam l-ehman. And ev- 
eryone in the field of 86 took this 
wild and crazy ride propelled by 
tricky swirling winds, diabolical 
pin placements and greens more 
treacherous than a highway oil 
slick. 

The 40,000 or more spectators 
who turned out for (he first round 
also saw a sideshow of laugh-a- 
minute shots, countless seemingly 
perfectly struck balls that span 


backward into waiting water or 
yawning traps, especially at the 
500-yard 15th hole, where Nolan 
Henke posted a 10 and Stewart a 9. 

leading the tournament when he 
walked to the 15th tee, Watson 
took a triple bogey even after lay- 
ing up on his second shot at the 


par-5hole. But he was smiling after 
making a 35-footer for birdie at the 
18th hale. “It’s a humbling game," 
be said. 

Mize, a 35-year-old native of Au- 
gusta who had arthroscopic surgery 
to repair tom cartilage m his nght 
knee four weeks ago, somehow 
managed to avoid most of those 
disasters on a course Ik's been 
playing most of his adult life: A 
year ago, Mize was in tie for the 
lead after the first day but faded to 
a tie for 21sl 

“The course is playing fast, the 
fairways are running, the greens are 
fast and you had some wind," Mize 
said. “That’s all it takes.” 

He added: “It’s fim to be lead- 
ing, bnt I’ve still got a lot of work 
left to da" 

So did everyone in this elite 
crowd, including some of the 
game’s finest players facing serious 
problems just making the cut 

Mize had a round included 
six birdies and two bogeys, one of 
them also at the 15th when his 4- 
wood cleared the water, but spun 
back in. He chipped to within 13 
feet and two putted from there and 
“it could have been worse,” be said. 


First-Round Scores From the Masters Golf Tournament 


Ptntd oa foe tmvartf oraoi-metor}, 
itaAumtftMorito 


Lorry Mize 33-35—68 
Futon Attain 31-37—49 
Tern Kits 34-35—69 
Tam Latum 34-36—70 
Ray Floyd 34-34—70 
SM Ballesteros 34-36—70 
Vllav Singh 3M4-7D 
Tam Watson 3307— 70 
Gras Norrrai 34-36—70 
lan Bator-FIneii 37-34—71 
Russ Cochran 34-37—71 
Cray Pavln 3S-36— 71 
Gary Flavor 35-36—71 
Brad Faxon 3M6— 71 
CMP Beck 36-35—71 
Hollme Maillol 3635-71 
Jim McGovern 35-37—72 
Bill Gknsan 37-35—72 
Jar Moos 38-34—72 
Jam Huston 3636-32 
o-John Harris 35-33—72 
Hate Irwin 3535-73 
Howard Ttelfty 36-37—73 
Lately Wodkins 36-37— 33 
OavW Edwan fa 3637 — 73 
Gil Morgrai 3536—74 


Billy Mayfair 3635-74 
Curtis Straw 3536—74 
Davki Frost 37-37—7 4 
Ben Crcrahaw 3536—74 
Andrew Magee 37-37—74 
Ernie Els 3535-74 
Jim Gallagher Jr. 3737—74 
Brett OBle 3535-74 
Grant Write 3535-74 
Scott Simpson 3737-74 
Wayne Grady 45-34—74 
Nick Price 3536—74 
Bo mb a r d Longer 3737—74 
Don Foreman 3638—74 
Jcgo Marla Ofazobai 3737—74 
Fuzzy Zoctler 3737-74 
Jeff Stumor 3539—74 
Mark O'Meara 3936— 75 
Mark Catcawecetta 36-39— 7S 
Sandy Lyte 3735-75 
Jeff Mogoert 3540-75 
Scott Hod) 3738—75 
Lee Janzen 4035—75 
Craig Parry 3536—75 
Loren Roberts 4035— 75 
Jumbo Ozaki 3640-^76 
Tammy Aaron 36-40—74 
Dudley Hart 3640—76 
John f rural 3739— 76 
John Adams 4036—76 


lan yvooenom 3535—76 
Barry Lane 3739—76 
John Daly 3739-76 
Nick Faldo 3535-76 
Davis Love III 3541-76 
Craig Stadler 3937—76 
Sam Torrance 3739—76 
BBlv Casacr 3935-77 
Johnny Miller 3539—77 
Bab Estes 3539—77 
Nolan Henke 3641—77 
Rick Fshr 37-45—77 
Mike Standly 37-45-77 
John Cook 3641—77 
Criln M on tgomerie 3740—77 
a-Jeffrey Thomas 4535—75 
Arnold Palmer 4535-75 
o-Oormy EOls 4335—75 
Jack Nicklaus 3540-75 
Peter Baker 3540-75 
Payne Stewart 3641—78 
Fred Funk 3940-79 
Blaine McCallbter 4039—79 
Cosiantino Rocca 3743—79 
Charles Coody 4040-60 
Anders Forebrand 3542-50 
Steve Elklnglon 4239—11 
a- lain Pvman 41-41—62 
Gov Brewer 39-45-54 
Doug Font 44— WD 


SCOREBOARD 

- f . -i »- 1 » Hfc*4f& 


4aJor League Standings 


AMERICAN LEAGUE 
East Division 


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. atnmore 
ew York 
"sronto 
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level and 
.llwaukee 
nicago 
Jnnesoto 
ansos City 

jlHomio 
3k land 
write 
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3 
2 
2 
2 
0 

Ceotral Division 
2 O 
7 0 

1 2 
1 2 
O 2 
West Division 
2 1 
0 2 
0 2 
0 2 


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1JM) 

1.000 

TJKJO 

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JUS 

333 

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NBA Standings 

EASTERN CONFERENCE 
Atlantic Division 

W L Pet 
x-NcwYork S2 20 322 

Orlando 43 29 sn 

Miami 40 34 .541 

New Jersey 39 34 S3* 

Boston 36 46 361 

PMkxtelPMa . 22 51 301 

Washington 21 37 358 

Ceotral Dtvtsiaa 

x-Atfanta 51 22 689 

x-QUcngo 49 » 671 

Cleveland 42 32 -SM 

Indiana 39 34 334 

Charlotte 31 39 458 

Detroit 25 52 375 

Milwaukee 19 54 3U 

WESTERN CONFERENCE 
Midwest DMstefi 


NATIONAL LEAGUE 



W L 

Pci 

OB 


East DiWfaoa 




S3 20 

-722 



W 

L 

Pet. 

GB 

x-Son Antonio 

52 22 

303 

1 


4 

0 



x-Utah 

46 28 

•422 

7 

em York 

3 

a 

1.000 


Denver 

36 36 

500 

W 

nlladeipWa 

3 

0 

1.000 


Minnesota 

20 52 

■Z7S 

32 

'"ontreal 

2 

i 



Dallas 

9 64 

.123 

43Ml 

tarhia 

1 





PocMc OMOaa 




Central Dietaton 




55 18 

JSS 

— 

nctonatl 

l 

? 




49 24 

sn 

6 

. Louis 

1 

l 




44 30 

-593 

11% 


1 

2 




42 J1 

STS 

13 

licago 

0 

3 




33 39 

ASS 

21% 

. rbburgh 

0 

3 



|_A. Clippers 

36 47 

356 

29 


8 

\ 



Sacramento 

24 49 

J39 

31 

n Francisco 

3 

0 

1.000 


x-citoched rtayon oertn 


- a Angeles 

2 

1 


3 

THURSDAY'S RESULTS 



dorado 
n Diego 


.£>00 


{ 


h 


to*. 


M 


l / 


C 


T hursday’s Line Scores 

AMERICAN LEAGUE 

100 005 000- 6 8 I 

_ ^ w York 212 334 a0»-18 1* • 

Rogers, Drew (41. Oliver (51. wnitestoe 
Howell C7>. Henke 181 and P °drlgu «: 
,^'^jfliriiond. Pall (6). Howe (8). Reardon w 
- " - 3 Stanley. Nohes (9). w— Mulhollwrt. Ht 

-Rogers. 0-1. HRs— Texas, Gonzalez (it. 
w York, a Wilt tarns lit, Gcllego 2 C2>. 
Btornta ON W0 450-4 M 1 

HMSOta 511 541 Wx-7 9 9 

-taler. Sonwen (5), Butcher let, BJW- 
t (71. Lewis W and Myers. Turne r 1 71. 
Ickson, Guthrie (71. Aguilera (8) am) Parts- 

± -ErlcksavULL— Flntey. 0-1. Sv— Aguilera 

*■ . HR — California. COovis HI. 

trait 210 OW 120-6 10 ■ 

Eton 513 IW 3W-* « * 

jFwanr. Krueger (4). Gardiner «l.Gu»K*- 

» 151. Hennemon (71 ond Tetllefon; Darwin. 

nkhead (61. Fossas (5). Harris 181 and Be£ 
..im, Rowland f7L W— Darwin. V-a 
- - -BsJcher.0-1. Sw-Hanis 111- HRs— OefroH. 
, toko- (i), Fielder (i).Boulis»<>^“B»rv 
ehftng (11. Graanwell Ql. Dawson (2). 
Mood MI 005 501-2 6 2 

. rwaakee 112 513 MX— 12 14 1 

tarllng, Raves 151. R/ghettl (71. Tartar (71 
’ !Stelnbadi.Hemond(7i; Wegmaa Brttt- 
MB). Saw tan (91 and Nilsson. Mattemy W- 
-wegtnan. 1-0. L— Damns, 0-1. HRs— Mt- 
-jkee. Seltzer (1). Jana (11. _ „ 

Jr one set ot2 005-a * \ 

, vetoed M3 801 !•*-* 11 * 

■ 4ate.Kiog(6UJ4etsonl6).Cummlngs(7). 

_ j gam (7) and D.WUsen; Morris, 5wan 16 J, 
e w (7). Fra »1 orto SJUomar.W— Morris. 
' L— Bosta.0-1.HR— CMwtond.Murroy(»- 

MAT IONA L LEAGUE 
onto 540 500 021 15-W W * 

i Diego S00 (SI ON IS— > H 2 

' 1 (11 leolegsl 

very, Bedreslan (51. Bteleckl 171. 5Kteon 
'u* f woniere IM, McMlchari (101 and J.Lo- 
: ; TLWorrelL M. Davis 171. Hoffman (01. 
Harris (91, Sager (tt) ond Ausmus. 
-McMichoei. ML l— S oger. 0-1. HR— Son 
-a. Staten (II. 

tadetebte 045 052 520-13 17 4 

rraao 000 216 ri* — s 7 1 

•Grant. Steam* (61. UMunoz (71 and 
i Hon; Gr Jtarrhb S.Reed (71. MMwnor (71. 
m 151. aRuffW (9» and GlrordJ. W— Sta- 
v ux WL L-S.Beed, 0-1. Sv— aMunoi 111. 

• s— Phitodetahta. Duncan (21, Daunon 
1 Cotarodo. Btatteite (3), Galarraga (21. 

' ks (3). 

rMa 100 500 000-1 6 1 

, Aeoeies dm M0 000—0 4 o 

ammona Harvey (01 and Sanfkige.' 
k taHteer DreHon (9) and Piazza 
-Hammond, i-a L— Rjwartlnez. 0-t. 
-Harvey (1). 


New York 22 34 28 U 5-57 

C: Brandos 6-129-10 21. Wilkins 5-M 3-6 22; 
NY; Oakley 1(W0 34, Horpsr 7-12 57 21 

Rebounds — Cleveland 63 (J.wnttomsl6> New 
York S3 (Oakley 15). Asifcrts-Ctevetand 15 
(Wilkins 71, New York 28 (Ewing, Davis. An- 
thony 5). 

Atlanta 2t 35 16 25—07 

New Jersey » B w 23-93 

A : Willis 8-15 2-4 15, Blaylock 5160-1 16; NJ: 
Cotemon 9-21 5-7 7*. Edwards 6-16 2-2 M. Re- 
bounds— Altante 57 (Willis 121. New Jersey 6t 
(Coleman 131. Asststs— Atkmta 23 (Blaylock 
11). New Jersey 24 (Anderson 11). 

Golden State 25 21 25 3V-W2 

Houston 27 31 32 44—134 

G: Owens 10-16 1-2 21. Mullta9-13 1-4 19; H: 

Harry 9-13GO 21. Thorpe 9-123-3 21, Of afuwon 
12-23 1-1 26. Rebounds— Golden State 45 (Ow- 
ens 81. Houston 51 COkilwwon 131. Assists— 
Golden State 25 (Webber 71. Houston 31 
(Otaluwtm 10). 

Seattle 25 n 22 at— 95 

Denver 15 32 27 27-W4 

S: Kemp 6-165-10 2G POYten 5-MV2 17. D: 
R.WtlltefflS 10-16 3-4 34. Pock 47 09 16. Re- 
bouads— Seattle 57 (Kemp 12). Denver 55 
(Mufombo 13). Assists— Seattle 15 (GUL Mc- 
Millan 4). Denver 1* (Poric 111- 

Dallas 24 ** 1* 25—52 

UMt. 28 24 27 15-9* 

O • Mashbunt 5-11*4 74. RooksS-74-4 U; U: 
Malone 10-IB 5-7 25. Spencer 7-19 34 17. Re- 
ZSS- C OHM 56 (WHUoms 91. Utah 65 
[Saencer 14). Assists — Dallas 16 (Mastteurn 
5). Writ 30 (Stockton w>. 


NHL Standings 




EASTERN CONFERENCE 

Atlantic Dtv W cn 

W L T Pts GF GA 

«NY Rangen 7 »7 2SS 219 

45 « 11 Wl 291 211 

SSL Er 36 35 « B 262 254 

32 33 16 » 225 225 

S^^onders 33 35 12 75 W 255 

PMIoCkHpIda 3* 35 9 77 2BS 306 

BOV 25 41 11 67 212 241 

Tampd BOV j iormeal t DMskm 

o 25 13 99 292 289 

S 27 13 93 273 543 

viSiri 39 27 M 92 271 236 

‘sSteta^ 41 30 9 91 273 211 

33 40 3 74 267 273 

25 47 9 59 217 279 

14 57 9 37 m 373 

WESTERN CONFERENCE 

Central Dtefstoo 

w L T PIS GF OA 
, rtatraK 45 27 3 98 3» 263 

?Ss fl 37 O 

z'JST * » « 0 270 250 


SIDELINES 


GB 

9 

13 

13te 

26 

3Wi 

31VS 


19» 

9 

lite 

17 

30 

31ta 


x-Qiicago 

36 

35 

9 

81 

238 229 

Winnipeg 

23 

45 

9 

SS 

237 327 


Padflc Division 



xy-Catoory 

39 

25 

13 

91 

256 246 

x-Vancouver 

40 

' 35 

3 

83 2J5 267 

x-San Jose 

32 

34 

IS 

79 

24S 257 

Arteieim 

31 

44 

5 

a 

222 244 

Los Angeles 

26 

43 

n 

63 

282 310 

Edmonton 

24 

44 

12 

40 252 295 

x-d inched ptovofi berth, y-d Inched dtvtstan 


THURSDAY'S RESULTS 

13 0-4 

3 0 3-6 

First Period: B-HuMies 12 (StumpoL lo- 
frate); B-Wesiev 14 (Donato: G- Murray) rB- 
G. Murray 17 (D. Shew. Oates); DMcBrin II 
(Oatate, Huard). Second Period: O-Yaetai 30 
(Huffman, Tutgeen) (pp); O-Oulnn 4 (Y0- 
shbb McBotnJ ; O-Turseoa 11 (Yashin) (pp). 
TSIrtf Period: 3-MaraisilRM Grvden); B- 
SmolinekI2» (Fealtieretena). Shots on goal: O 
(aoCasey)6-136— 24. B (on BHHngton, Made- 
toy) 1MMW6 

Hertford 1 0 V-4 

Quebec 2 2 1-5 

First Period: H-Kran 22 (Crawley. Drury) .- 
O-Rlcd 30 (Stadia. Flset); Q-Fraser 16 (Ka- 
mensky. Karpo). SecoM Period: Q-Saklc 28 
(Werenka. Sundin) (pp); Q- Young 2« (Settle. 
Sundta) (pp). Tterd Period: H-Sandereen « 
(Pranoer) ; Q-WblanlnS (en). Shots on goal: H 
(on Ftseil 108-11—29.0 (on Reese) 137-8— ». 
Florida 1115-3 

PMtodeteMa 1 2 5 5-^ 

First Period: F-Baksigeri7(Bennhw.Kud- 
leskl) (pp); P-Brltef Amour 33 (Renbem Ra- 
cine) [pp).Secead Period: P-Dineen 19 (Rec- 
dii. Lamb) (op); P-Recc« 38 (Zettier); F- 
Barnes 32 (Murphy. Berating) (pp). Third 
Period: F-Murehv 14. Shots on goal: F (on 
Sode retram) 16-10-15-1—42. P (on Vanbtas- 
brauck) TOta-2-a 

Las Anodes 1 8 1—2 

$t LOUIS 2 7 3-6 

m Period: SL-MUler 23 (Janney. 
Nadvud) (pp) ; LA.-Robltolite 42 (Todd); SL- 
Koramnov9(Hoastey,Nedved). Second Peri- 
od: SL-Shanahan 46 (Janney, Milter). Thud 
Period: SL-Hull SS (Stestny, h ouster); SL- 
Krity 1 (Shcnriian. Milter); SL-Shonohon 47 
(Janney); 1_A_- Redmond 1 (Kurrt ZhiMk). 
Shots oa goal: LA. (on Jonptd 10-11-16-37. 
SJ_ (an Hrudey) 9-154—32. 

Son -u»w. I 0 1—3 

VflGOtfvcr 2 D ^ j 

First Period: SJ.-EIDc25 (Follooiv Norton) 
(pp); V-Bure 57 (CourtnalL Brawn) (pp); V- 
Canon 11. Third Period: V-Bure 58 (Craven. 
Adams); S_L-Lorionov 18 (Gorpeatav, Ma- 
karov). Shots as sort: 5j. (on Whitmore) 5-10- 
6-34 V (an irbe) 10-8-6—24. 

E22H2SE^ 

FOURTH TEST 
west Inrtes vs. England 
First Day, Friday, In BrMgeMwiv Barbados 
Scare at tea: 

England test traitass: 157-1 

ONE-DAY INTERNATIONAL 
AustraSa vs. Soute Africa 
Friday, to BtoemtoMda. South Africa 
Australia: 203-6 (50 overs) 


BASKETBALL 

National BnsVrtted l Aesuctetten 
INDIANA— Put Vern Fleming, guard, on 
tafcnd ilsL Activated LaSalle Thompson tor- 
mnd, tram Inlured list. 

LA. CL1PPRS — Put John Wirioms. for- 
ward, on injured list. Activated Tom Totaeri. 
forward, from Injured fist. 

LA. LAKERS— Put Regale Jordan, guard, 
on Inlured Ibt. Activated Art onto Harvey, tor- 
ward-center. from Inlured list. 

BASEBALL 


BALTIMOR E Bought contract at Mark 
wuikvnsaa pitcher, tram Rochester. 11— 
BOSTO N Boug h t co nl i bc f of Tony Fossas. 
Pitcher, and Damon BerryMlt, catcher, tram 
Pawtucket, IL 

CALIFORNIA— Bought cont r act s of John 
Dopson. Bab Patterson and BUI Sampen. 
pUchers. from Vancouver, PCL 
CLEVELAND— Signed Rene Gonzales, hv 
HeUer. to a minor-league contract end as- 
signed him to Chartatte oi the IL 
KANSAS — Bought contract oi Hubto 
Brooks, outfielder, from Omaha. AA. 

MILWAUKEE— Put Brian Harper, catch- 
er, on 15-dov disabled Hst. 

Mi N NESOTA— Put Shane Mock, outftetaer, 
on 15dov (fisabled list. Purchasod contract of 
Alex Cole, center Adder, from Portland Of 
Pacific Coast LeaOUB. 

N.Y. YANKEES— Pul Paul Gtoson.pUdher, 
on 75-day disab l ed Hst, retroactive March 21. 
Optioned Mark Hutton, pitcher, and Dave S1F 
vestri. infletder. to Columbus. IL Sent Bob 
Oledo and Royal Clayton, pitetm and Sam 
Horn, htfletdcr. to ralnor-teogue camp ter re- 
assAmmenl Put contract of JcH Reardon, 
pitcher, (ram Columbus. IL 
SEATTLE— sough! contract of Tim Dovts. 
pitcher, from. Jacksonville. 5L Keith Mitch- 
ell outfielder, tram Calgary, PCL Optioned 
Roger SaUceJd, pitcher, to Calgary. 

TEXAS— Put Dan Smith, p i tch er , and John 
Stove, infletder, on ISday disabled IbL 
TORONTO— Put Duane Word, Pi tcher, en 
15-day disabled list, retroactive to March 25. 


JAPAN OPEN 
Men's Q uart er n nob 

Pete Sampras. UA. (1), dot. Patrick Ratter, 
Australia (7). 6-1 5-7 e-1; Michael Chang. Ui 
(2L det. David Wheaton. UJS- 7-6 (7-3) 6-3; 
Henrik Heim. S weden (it), det Ivan Leras, 
UJL (4). 5-7 6-1 6-2; Boris Becker, Germany 
(3). det. Brad GRbeti, UA (6). 6-3, 6 «. 
Women's semffteats 

Amy Frazier. UA. (4 1, oef. Sabine AppeUttan& 
Belgium (21. 7-5, 6-2 


SPANISH FIRST DIVISION 
DeparttvaOe La Coruna 2. Aitettcode Madrid a 
INTERNATIONAL FRIENDLY 
Bolivia 1, Colombia S 


Rain Threatens Grand National Race 

LIVERPOOL (AP) —Grand NatiouaL the famed borae race declared 
void last year because of two false starts, faced being washed out 
Saturday because several days of heavy rain od the Ain tree course. 

“A statement will be made tomorrow," the course cleric, Charles 
Barnett, said Friday evening. As he spoke, water pooled on the course and 
rain continued to falL Hie forecast called for further showers overnight, 
with the possibility of hail and sleet 

• An outbreak of what was suspected to be botulism at Australia’s 
premier yearling thoroughbred auction in Sydney has killed 1 1 horses worth 
ai least $368,000, a spokeswoman for tbe auctioneer said Friday. (Reuters) 

Yamaha Takes Over Whitbread Lead 

SOUTHAMPTON. England (AP) — Tbe Japanese-New Z e al a nd 
yacht Yamaha moved into the lead Friday on tbe fifth leg of the 
Whitbread *Round the World Race as heavy winds cot tinned to trouble 
(he fleet off tbe coast of Brazil 

“We are bashing all over the place," said Marod van Triest, navigator 
of the European entry lntrum Justitia, winch was S nautical miles bound 
Yamaha in second place. 

Galicia Pescanova was five miles behind lntrum Justitia, with Merit 
Cup of Switzerland leading the Maxi class. She was 23 nriles ahead of her 
nearest rival New Zealand Endeavor, and trailed Yamaha by 33 miles. 

Sky Channel Expands Horse Racing . 

SYDNEY (AP) — Australian thoroughbred races soon will be broad- 
cast live, complete with parimutuel betting, to 22 major Nevada casinos 
by the Sky Channel sports TV service owned by billioaarre media mogul 
Kerry Packer's Nine Network. Australia, which said this will be tbe first 
step in what it hopes -mil become a 24-hour global televised racing service. 

Sky Channel said it has a Mexican company set to join, then mil try to 
bring in New York off-track betting parlors and New Jersey casinos. 
Negotiations are already under wav to spread the service to Canada, plus 
Venezuela and other Latin American countries, followed by expansion 
into Asia, probably b eriming with Taiwan, an official said. 

For the Record 

A mfr Norman was fired as the British Athletic Federation's promotions 
director over allegations linking him with tbe apparent suicide of jounral- 
ist-coach Cliff Temple. (AP) 

The Dallas Cowboys signed Pro Bowl players Daryl Johnston and Nate 
Newton to three-year contracts. Johnston got $42 million, m a kin g lum 
the highest-paid fullback in NFL history, with a 51.8 million signing 
bonus; Newton, an offensive guard got S3.46, with a SI nriDion signing 
bonus. (AP) 

LaVormie Wooten, 27, a cousin of tire Phoenix Suns forward Jerrod 
Mustaf, was arrested and charged with murder in the slaying of a woman 
who told her family she was carrying Mustafs child. (AP) 

L am b orghi ni, one of Italy's great sports car manufacturers, said it bad 
closed Lamborghini Engineering, its Formula One engine subsidiary, 
because it had ceased to be economically viable: (Reuters) 


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INTERNATIONAL BTFUALn TRIBUNE, SATURDAY -SUNDAY, APRIL 9-10, 1994 


DAVE BARRY 


Amateur Tax Tips 


Farley Mowat’s Troublemaking Saga 


PEOPLE 


M IAMI —Today I am pleased 
to Present the results of the 


1Y1 to present the results of the 
Amateur Tax Tips contest, in which 
1 a&ked readers to submit their tax 
preparation tbs on postcards and 
send them in for a chance to win a 
valuable used pair of men's briefs 


Jr. Needless to say, this prize stirred 
plenty of excitement. Many of 
the m tries mentioned it by name 
(“DO NOT SEND ME THE UN- 
DERWEAR"). 

I pored orer the postcards for 
hours, and I have concluded, via a 
complex and sophisticated statisti- 
cal analysis, that a lot of them fea- 
ture photographs of seminaked 
women. In poring over the post- 
cards, I also briefly glanced at the 
sides that had writing on them, and 
1 found some excellent tax tips that 
you w£D definitely want co try out 
this year. 


So get a pencil and paper ready, 
ecause here come the RUNNER- 


because here come the RUNNER- 
UP AMATEU R TAX TIPS: 

“The IRS encourages taxpayers 
to round off numbers. For exam- 
ple, my income is $34,500, so I 
round this off to $30,000/' (John 
Soennicbsen-Cheney) 

“Don’t report any income from 
Jeff Giflooly." (Steve Peters) 

“You wfll never get audited if 
you write possibly insane state- 
ments all over the margins of your 
tax return like. The CIA is moni- 
toring my shoes and YOU KNOW 
IT!!!’" (John Averill) 

“Use that standard $20,000 de- 
duction for church donations. 
WHAT TO SAY IF AUDITED: 
‘Look, did you see that Pppemo- 
bile? Wen, I PAID FOR IT.*" 
(Darrell Van Dyke) 

“When you file electronically, 
you can send in your payment by 
repeatedly running a dollar tall 
through your fax machine,'’ (Har- 
old Tapper) 

“DO NOT CHEAT ON YOUR 
TAX RETURNS. I cheated last 
year and was immediately given a 
hi g h- ranking congressional office. 
It really scared me.’' (Phil Harvey) 
“MARRY YOUR CAR Assum- 
ing your car produces no income 
and you file jointly, you can save 
up to SO percent of your tax bill 
The tricky part Is finding the right 
minister. Baore be would perform 
the ceremony, my minister asked 
me, “Son, did you get your car in 


trouble? Because 1 won’t do wed- 
dings like that’ ” (Jon Kelly) 

I think we can agree that these 
are all excellent tax rips, and in ao 
ordinary year, any one of them 
would be good enough to win used 
underwear signed by Roy Blount 
Jr. But this Is not an ordinary year. 
This is a year when a truly won- 
drous Amateur Tax Tip has been 
suggested BY THE IRS ITSELF. 

Here's what happened: In 1992 
the IRS got audited, for the first 
time ever, by the General Account- 
ing Office. The results were just 
released, and guess what, taxpay- 
ers? It turns out that the ERS has 
been doing a TERRIBLE job of 
record-keeping. The Associated 
Press states: “The IRS system for 
administering its own. money was 
so bad that auditors were unable 
even to review 64 percent of the 
IRS’s $6.7 billion budget in 1992.” 
In auditing the IRos cash ac- 
counts, the GAO also found “unre- 
solved differences of S63 million." 

Now get this. In response, the 
IRS's chief financial officer, Mor- 
gan Kingfaom, explained that — I 
am not making these quotes up — 1 
the IRS had been using an “old 
system” of accounting that ‘just was 
simply not auditable and not de- 
signed to be auditable." But now, he 
said, the IRS has a new system. 


By Charles Trueheart 

Washington Pau Service 


P ORT HOPE, Ontario — Farley 
MowaL Farley MowaL The name is 


“My guess,* 7 Kingbon) said, “is 
eH nave a dean opinion next 


well nave a dean opinion next 
year.” 

□ 


Isn’t that MARVELOUS, tax- 
payers? Doesn't that just make you 
want to hurt your tax forms and 
your cardboard box full of 12,837 
unintelligible tax- related pieces of 
paper into the air with joy? Finally, 
we have an Official IRS Excuse! 
From now on, if you have ANY 
problem with the IRS, and tbe 
amount in question is $63 million 
or less, simply state that your ac- 
counting system was “not designed 
to be auditable,” but that you have 


L Mowat, Farley MowaL The name is 
familiar . Something about wolves. Or 
boats. Or whales. Or Eskimos. Lots of ice 
and snow, anyway. And for a Canadia n , 
something of a hell-raiser, right? 

Right 

Were he seating forth to know the North 
today, instead of a half-century ago, this 
72-year-old buzzard might be called many 
thing s — an animal rights activist, an 
enli ghtene d outdooisman, an environ- 
mental journalist, an amateur historian 
(and anthropologist and cold-climate biol- 
ogist), a bleeding heart and noisy scrapper 
for creatures weaker and nobler than we. 
Farley Mowat, author of 32 books, is all of 
those thing s, which may explain the seem- 
ing fact that his reputation, though large; 
is so fractured and indistinct 

“I refuse to be classified," he says. “Tbe 
only people who belong in pigeonholes are 
pigeons.” 

Mowat retis his work “subjective non- 
fiction," which is a dreary way of saying 
storytelling. Mowat’s preferred term for 
“my profession — no, my vocation” is that 
be is a “saga man.” The saga man was the 
old Norse bard of preliterate limes who 
roamed from settlement to settlement re- 
telling the stories of old, and knowing that 
his living depended on entertaining as weO 
as informing. 

Like any sag a man worth his yam. 
Mowat is a bom performer. When the 
door to his house swings (men, he puts his 
feet together and bows from the waist. 
“Welcome, bwana,” he says, before lead- 
ing tbe way to a sunn y back room 

Port Hope may have been home to Far- 
ley Mowat these past 18 years, and it may 
be only a few miles from bis birthplace, but 



mg” (1972) — “tbe turning point of his 
career as a writer," according to bis lifelong 
friend and editor-for-life, Peter Davison. 


Fred LaBour Is Alive: 
No Hard Feelings, Paid 


ration, Claire and Farley Mowat settled in 
Burgeo, Newfoundland, in 1962. Here 
they would five among tbe plain sea bound 
folk Mowat has chronicled and adored all 
Iris life. But one day a few yearn later, a 
great whale swam into a tidal inlet and 
became stranded. Mowat watched in frus- 
trated horror as a pack of loathsome vil- 
lage rowdies began to torment the whale, 
buzzing to with speedboats and shooting 
to with air rifles. 


The man credited with turning 
the “Pad McCartney Is Dead" ru- 
mor into a piece of pop history says 
he’d like to have a beer and laugh 
about it with the former Beaik 
“I've heard he's still kind of peeved 
about the whole thing,” says Fred 
LaBour, who performs under the 
name T 00 SSm in Nashville, Tea- 
nessee. He says he first heard the 
rumor while listening to a Detroit# 
radio station in 1969 and used it as | 


for a parody of album reviews, 
review spelled out supposed 






... ... 

<-> » v;» 




Mowat: 


An* Oisdwaj to The !ie* Vni Tata 
l„— 


this nearly picturesque harbor village clut- 
tered by the industrial surround is about as 


a new system, and that your 
“guess" is that everything wfll be 


“guess" is that everything wfll be 
okay next year. I'm sure this will be 
FINE with the IRS. ■ 


So that is our winning tax tip, 
id I am eome to launder the 


and I am going to launder the 
grand prize and mail it to Morgan 
Kinghom. Fm sure hrfl accept it 
with grace and good humor. Please 
bring me food in prison. Also bring 
some for Roy Blount Jr. 

Knrgjit-Ridder Newspapers 


tered by the industrial surround is about as 
southerly and rivic a berth as you’d think 
this chronicler of the North could bear. The 
Mowats live in a Low frame house on a bluff 
that overlooks town. Claire Mowat, Far- 
ley’s wife of 29 years and an author, as they 
say, in her own right, excuses herself to run 
a few errands. 

The mating conversation, over Mowat’s 
strong coffee and wimpy rigaretles, wfll 
glance upon many of the man’s causes and 
crusades and wild goose chases, and his 
encounters sad and glad with the Other, as 
he calls his fellow creatures. All of these 
adventures toe been fodder for his books 
— on the limit, for instance, as the Eskimos 
prefer to be called (“People of tbe Deer,” 
nis first, in 1951). On the brute extermina- 
tion of the seals (“Sea of Slaughter,” 1984). 
On the darkness of war (“And No Birds 
Sang,” 1979). On the follies of restoring an 


old fishing vessel (“The Boat Who 
Wouldn’t Float,” 1969). 

His latest book, just out, is “Born Na- 
ked,” a slender piece of autobiography 
covering his childhood. Mowat declares 
that this is his first “rear autobiography. 
“Born Naked" can be read as a companion 
memoir to “My Father’s Son” (1992), 
which dealt with World War D and 
Mowat’s relationship with his father. In 
the new volume, Angus Mowat an itiner- 
ant small-town librarian, moves his wife 
and only child to the Canadian prairies 
amid tbe Depression. 

It was a fateful move, for the rural venue 
gave Fariey Ms primary education in the 
great outdoors. There be (fid Ms hesitant 
first and dispu ted last bit of hunting, and 
fdt ins first mystical union with the Other. 
By the age of 13 hewas the editor, publisher 
and chief correspondent of his own maga- 
zine, Nature Lore — the Official Organ erf 
the Beaver Chib of Amateur Naturalists erf 
Sadratnfw, Saskatchewan. And later, as a 
pnxxwous teenage namrecoMmnxst (“Prai- 
rie Pals”) for (be local paper, he stirred 
Ms first piece of trouble with the local 


establishment with a gentle admonition 
about tbe evils of killing animals far sport 

A better introduction to Mowat than 
“Born Naked” might be “The Dog Who 
Wouldn’t Be” (1957), a book Mowat be- 
gan to write during World War IT to keep 
his mind off the fear and madness of being 
a soldier in combat War had given Mm “a 
sense of revulsion against my own spe- 
cies,” he said once, and he sought to flee 
his kind by writing about Ms dog. Mutt. It 
is, of course, a book about Mowat Take 
this w himsi cal glimpse - 

“I suspect that at some early moment of 
his existence he conducted there was no 
future in bong a dog. And so, with the 
tenacity that miked Ms every act, he set 
himself to become something else. Sub- 
consciously he no longer believed that he 
was a dog at all, yet he did not fed, as so 
many foolish canines appear to do, that he 
was human. He was tolerant of both spe- 
cies, but he claimed kin to neither.” 

Mowat’s whole body of work bespeaks 
its author's estrangement from the human 
race, but no incident is so poignant as the 
one he recounts in “A Whale for the KiQ- 


“This a ft pr k on her was a. monstrous, 
despicable act of cruelty. If. I threatened, 
everyone did not instantly get the hdl out of 
Aldridges Pond and leave the whale be, 
would make it my business to blacken Bur- 
geo’s nam e from one end of Canada to the 
other. The whale’s tonneucois refused to 
dispose, and Mowat proceeded to make 
gpod on Ms threat “A whale for the Kill- 
ing, * published after the Mowais left New- 
foundland and settled here, reserved plenty 
of blame for himself and the foDy of his 
ill visions. The fli gh t Grom Burgeo is one of 
tbe few topics about which, today, words do 
not come easily from him. “It ended badly 
forme.” he says. “I had gone there because 
I had seen in my mind's eye, as people often 
ido, the perfect human environment. And it 
all fell apart.” 

String here in Port Hope, he fights a 
losing verbal battle with the darker lessons 
his witness has taught For instance: After 
talking about the agony and loss of faith he 
felt wEen he recorded “one atrocity after 
another” in tbe relentless slaughter of seals 
two decades ago, Mowat first insists that 
he’s “recovered from feeling so depressed 
about it. Now I keep my optimism afive and 
revitalized by accepting the fact that we are 
a bad species, and probably haven't got 
much time here, and its not going to bre3k 


clues on The Beatles “Abbey 
Road” album cover about how 
McCartney had died in a car crash 
and been replaced. The article was 
published in the Michigan Daily, 
the newspaper of tbe University of 
Michigan, on Oct. 14, 1969. “I was 
truly nm a7g d and a little fright- 
ened.” at bow fast the rumor 
spread, LaBour said. He said he 
knew he’d arrived when he went to 
a restroom in Ann Arbor, Michi- 



gan, and saw written on the wall, 
“Fred LaBour is Dead.” 




Joan JuBet Bock, a film critic for 
Vogue who has written about poli- 
tics, the arts and fashion for maga- 
zines in the United States and Eu- 
rope, has beat named editor of 
French Vogue, effective June I. She 
replaces Cblombe Pringle. 

□ 


Wanna get some more coffee?" 

Not quite 10 years ago, the U. S. govern- 
ment banned Mowat from entering the 
country for a speaking tour. The grounds, 
as bestMowitt could detenmne them from 
the fog of obfuscation and backtracking. 


Princess Diana is being urged by 
Queen Elizabeth to return to the 
limelight for ihe 50th axsmversazy 
celebrations of the D-Day landings 
in Normandy, according to British 
tabloids. The Sun said the qtrna 
wanted Diana to “bring some 
glamour" to the June celebrations. 
Diana bowed out of public life late 
last year, saying she wanted more 
privacy. A Buckingham Palaci 
spokesman was quoted saying that 
Diana was “stifl considering.* 

□ 




were that be had once threatened ■ — per- 
hans in iest Derhans not — to fire his 22 at 


ha ps in jest, perhaps not — to fire his .22 at 
U. S. military aircraft overhead, four or five 
miles overhead, to protest the overflights. 

The ban was ultimately lifted, but not 
before Mowax and his publisher had raised 
a three-ring ruckus. Nevertheless, Mowat 
has not crossed the border since (“official- 
ly" be winks) because the conditions of Ms 
merry vengeance have not been met. “I 
need Air Force One to pick me up, and a 
letter from whomever happens to be pres- 
cient at the rime at apology,” be says. 


Marry in haste . . . Shaanes 
Doherty, the former “Beverly Hills, 
90210" star, has filed for divorce 
from Ashley Hamilton after five 
months of marriage, eating irrecon- 
cilable differences. Doherty, mar- 
ried the son of the actor-Geoage 
Hamilton just weeks after they met. 


INTEMAllOm t 
CLASSIFIED | 

Appears on Pages 7 & 13 ^ 


WEATHER 


POSTCARD 


■ -tlSr .it,.. . 

' ' V-t Jn/- ''' 




Europe 


Forecast for Sunday through Tuesday, as provided by Accu-Weather. 


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By Martha Sherrill 

Washington Post Service 


\T/ASHlNGTON — Upon hearing the sad 
W news that a sequel to “Casablanca" is 
being written for Warner Books, eventually to 
be sold as a miniseries on TV, it was hard not to 
fed a little sorry for the world and then ponder 
the various possibilities for nostalgia, the new 
kisses and secret moonlight meetings, the prop 
planes, the Venetian Winds, the gloriously well- 
dressed refugees, the tearful singing of national 
anthems, the whirring of the Casablanca ceiling 
fans on the Home Stopping Network, and tbe 
unfolding of more plots ana subplots involving 
Dsa Luna and Rick Blaine, Captain Louis Re- 
nault, Sam (who was not given a last name), and 
the dreaded Victor Lasrio. 

Except, maybe, if if s called “As Tune Goes 
By” — a title under consideration by Warner 
Books — then the tropical scenery ana slightly 
campy Moorish sets would give way to other sets, 
otto locations, because, well pretty soon h 
would be the 1950s already and we’d find our- 
selves trapped in either Paris or California — 
where the entire cinematic ’50s seems to have 
taken place — and pahaps Laszlo (Christopher 
Walken) hasn't won the Nobel Peace Prize or 


JvMnam 


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North America 
Warm weather will bn the 
rule from Orlando to Char- 
lotte Sunday Into Tuesday. A 
alarm an ttm southern PWna 
Sunday wO mova tcnmrd the 
Great Lakes atataa Tuesday. 


Europe 


Southern Italy through 
Bucharest and Budapest wl 


be chMy wlti ndn aarty next 
week. A smafl area of rmavy 
snow will break out from 
Austria to southern Potent! 
London and Parts win have 
dry weather with a day-to- 


Locaty heavy nUns are pos- 
sible from Houston to St. 
Louis, The ter west wB have 
dry, aaasonaUe weather. 


day warming trend through 
Tuesday. Madrid will ba 


sumy and wll turn warmer. 


Asia 

Rain wfll spread northeast- 
ward from near Shanghai 
Sunday to Seoul and Osaka 
by Tuesday. Tokyo wll have 

sumy. warmer weather early 
next week. A lew showers 
are passible lata Tuesday. 
Being Win have seasonably 
cool weather Sunday Into 
Tuesday with clouds and 


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become the first Communist premier of Czecho- 
slovakia, but lives in a small studio apartment in 
Hollywood where he’s become a sensitive screen- 
writer toying with existeaiial atom bomb scenar- 
ios, and Rick (Robert DcNiro), who is running a 
coffeehouse in the North Beach section of San 
Francisco, is called before the House Un-Ameri- 
can Activities Committee to name some names, 
and, even though he stands to gain lisa (Jessica 
Lange) by finking, he . . . 

As the digital dock blurs quickly forward, 
suddenly our mmiseries (“Casablanca W!”) 
opens with Bsa (Jessica Tandy) still finding her- 
self stuck in a noble but loveless marriage to 
Laszlo (Hume Cronin) — the secretary-general 
of the UnitedNations who is taken hostage while 
conducting negotiations with North Korea over 
nuclear inspections —and Il» tracks down Rick 
(Paul Newman), who. with Ms partners Renault 
(Girard Depardieu) and Sam (Ray Charles), 
runs a Qub Med in Singapore, and she begs him 
for help, but Rick refuses to get involved (“Of all 
the crummy dubs in all the beach towns inaQdie 
worid, and she walks into mme^, and while he’s 
indulging himself in self-pity one more time, she 
mills a gun on Mm, although she can’t bring 
herself to shoot the man die truly loves — so 


while she’s standing there, wobbly and hanring 
onto ha walker, we flash back to Monte Carlo 
where she and Rick had a brief fiSng in die '60s 
while Laszlo was negotiating tire French with- 
drawal from Vietnam ... 




Spinning back to present time; with a “Driving 
Miss Daisy" meets “Rambo IT type of moof 
Rick succumbs to Bsa and the two ra them fly to 
Jakarta with forged letters of transit and aftka 
series of dever gambits on Rick’s pazt (be canes 
one Asian to doth and kills another by dectro- 
cation using “Tbe Qqjpei"), the North .Koreans 
agree to release Laszlo — m the condition that 
Ride opens an International House of Pancakes 
franchise in tbe capital — and Rkk agrees, but 
Laszlo, at the airport, balks at the terms, so Hsb 
— angered that Laszlo once again has chosen 
work over marriage — pulls a gun and finaif 
shoots the tiresome old bore and she and Rid 
open a miniature golf course in Man and Inc 
happily ever . . . 


Rt Sir- 


Or as Air Force One stands waiting at An- 
drews, Rick (Bill Clinton) turns to lisa (Hillary 
Clinton), bites his lip, denches Ms fist, gives tw 
thumbs-up sign, mounts tbe gangway akme, 
eyes flooded with tears, turns to her and says: 
“Well always have little Rock” . . . 


h | rf ? 

1 *• C-i 



Travel in a world without borders, time zones 

or language barriers. 


AEScT Access Numbers. 

Howto call around the world 

1. Using the chan bekw, find the country you are calling from. 

2 . Dial tbe corresponding AUS” Access Number. 

3. An ADa - EngUsb-speakiAg Operator or voice prompt will ask for ibe phone number you wish recall or curtnca you to 3 
customer service represenradve. 

To receive your free wallet card of ACER: Access Numbers, just dial the access number of 
the country you’re in and ask for Customer Service 


COUNTRY ACCESS NUMBER COUNTRY ACCESS NUMBER COUNTRY ACCESS NUMBER 


ASIA/PAQFIC 

Australia OOU 

chiDM^nc*** 

Guam 


Irdaad 


0014-481-01 1 naif 

10811 Lkc i i reu ate iu * 


1-800-550-000 Colombia 
172-1011 JGostaRtaca 


India* 

liklonrda*' 

Japan* 

Korea 
Korea** 
Malaysia* 
New Zealand 


018-872 Utbnaniae 
800-1111 Luxembourg 


155-00-11 Rn> 

HSafradortr 


000-117 Mate* 
001^801-10 MOP* 

0039-111 rate 


P39-111 Netberfendar 
009-11 Noway* 

11* Potend**- 


OgOOjgOAlft G^yasar*' 
IP^-OOll Honduras** 


Saipan* 
Singapore 
■ Sri Lanka 
Tehran* 
Thailand* 


800-0011 Portugal 
000-911 BnwMnl- 
105-11 Hnaato*ti 
235-2872: Slovakia 


8004111-111 Spain 
430430 Sweden* 
0000-102884) Switzerland* 


0019-991-1111 UK. 


-! Imagine a world where you can call country to country as easily as you can from home. And 

reac * 1 to® US- cUrecdy from over 125 countries. Converse with someone who doesn't speak your 
language, since it’s translated instandy. Call your clients ai3 am knowing they’ll get the message in 
: your voice at a more polite hour. All this is now possible with ATSSfit 

To use these services, dial the /OKT Access Number of the country you’re in and you’ll get all the 
help you need With these Access Numbers and your AEBT Calling Card, International calling has never been easier. 

If you don’t have an ABET Calling Card or you’d like more information on ATSET global services, just call us using the 
convenient Access Numbers on your right 


EUROPE 


■Bermuda* 
' British VJ. 


r/MSA 


Afmw i ta * * 

Anatria**- 

Bdjtium* 

Bulgaria 

Croatia** 

CBDchHcp 

Denmark? 

Finland* 

Franoe 

Germany 

Greece* 

' Hu n gar y* 

Iceland*! 


8*14111 Bahrain 
QZZ-903-011 Cyprus* 
078-11-0010 brad 
00-1800-0010 Kuwait 
99-388011 Lebanon (B 

00-tttMWlPl Saudi Arabia 


8001-0010 Tmtay* 
9800-100-10 ' ' 


194-0011 Aijoeotiitt* 
01308010 Bare* ' 


00800-1311 flottvfa* 
004-80081111 BhoeII 
999-001 chBe 


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01-900-4288 — 

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0W2M0101 

9000980-11 

020-793-^11 — C 

□£ 159-OO-U 

0300-898011 

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80CL001 caygHPisfaa 
~ oa&-90ffi0i . gtenari** 

177-100-2727 ****** 

800-288 ' JagBfcg- 

(Bring) 426-801 Ne A - An| tti 

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AMERICAS Egypt* (Criti 

> 001-80 0-200-11 If Gabon* 

S55 Gambia* 

0800-111 1 Kenya* 

000-801 0 Liberia * 

* ' 00*831? Mahwr 


U«oniM0 980-11-0010 

! CostaRtea*a 114 

.Ecuador* 119 : 

B? Salvador* 190 ' 

‘ Guatemala* igQ : 

Honduras^ 12 J 

h terirn oA* 9£80tM62-4240 

Sggp^ilMgg 174 

Panamae 109 

P«u* 191* 

Suriname 156 

Uruguay Q 0 -Q 41 Q 

Venezuela** 80011-120 

r*BIW«mf 

1 - 800872 - 2881 . 


1-800-872-2881 

1-800-872-288) , 
Is 1-800872-2881 

1-800-872-2881 . 
. 001-800-972-2883 

0-800-872-2881 1 

001-800-872-2881 

1-800-872-2881 

AFRICA 


’(Cairo) 


9100200 


OOa-OOI 

00111 

0800-10 

797-797* 1 

101-1992 


AT&T 


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