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INTERNATIONAL 



PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


Paris, Satorday-Sunday, April 23-24, 1994 


No. 34,570 


NATO’S NEW ULTIMATUM 


Serbs Press Attacks, Then Talk Truce 


By Craig R. Whitney 

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Gorazde unless they immedi- 
• wdy stopped their attacks. 

' nJJ 6 ,*? 1 - ^.agreed to an American pro- 

•- fSm Serbs until 2.-01 A.M. Sunday 

l °P“U thei forces back 3 kflonui 
icts (about 2 miles) from the center of the city 
and ahow free access to its 65,000 mainly Mus- 
■* um refugees by United Nations forces, humani- 
tanan rehefconvoys, and medical teams 
But NATO air forces could be authorized to 
strike before the Sunday deadline if the Serbs 
fascp shelling Gorazde, allied officials empha- 
sized. v 

- [NATO was poised to widen the ultimatum 
to protect all UN-designated “safe areas” in 
Bosnia and to impose exclusion zones around 
them so that Serbian forces would have to 


withdraw, news agencies reported, quoting alli- 
ance sources. These areas include Tuzia, Zepa. 
Bihac and Srebrenica. 

[The alliance later added to the Gorazde 
ultimatum, threatening the Serbs with air 


strikes unless they withdrew heavy guns from 
20 kilometers around Gorazde by early 
Wednesday. 

[Earlier, the NATO secretary- general. 
Manfred Worner. said that be did not expect its 
threat of air strikes against Serbs to escalate the 
war.] 

As positions appeared to harden in the con- 
flict, mere were reports from Belgrade that the 
Bosnian Serbs had agreed late Friday to a 
cease-fire around Gorazde. Yasushi Akashl the 
top UN official in the former Yugoslavia, said 
after talks that the truce was to take effect at 
noon Saturday. 

But there were other signs of defiance: 

• Bosnian Serbian forces resumed shelling 
Gorazde on Friday after a InQ and after the 
ultimatum was declared. UN officials said. 

• Yugoslavia’s foreign minister warned that 


with further NATO action, “the possibility that 
Serbia becomes involved is a reality." 

The United Slates pressed for an early deci- 
sion on measures to end the attacks on Gorazde 
before the city fell 

American officials said the United States did 
not succeed in getting the allies to agree as pan 
of the initial decision on Gorazde to require the 
Serbs later to withdraw their forces from the 20- 
kilometer zone around it. Nor did it get allied 
backing for a proposal to let NATO military 
commanders decide on their own authority, 
without UN approval, what targets to hit with- 
in the zone. 

“The murderous, barbaric attacks against the 
defenseless civilians of Gorazde are an out- 
rage," Mr. Wdmer said. “Still today the shelling 
has continued. Half measures will not do. 

“It is now up to the Bosnian Serbs to heed 
these demands, or they will face serious conse- 
quences." 

President Bill Clinton applauded the alli- 
ance’s moves. “This decision provides NATO 
forces with greater authority to respond to 


Bosnian Serb attacks," be said in Washington. 
"The Bosnian Serbs should not doubt NATO’s 
willingness to act” 

NATO officials did not specify what military 
targets would be hit beyond the heavy weapons 
— tanks, artillery pieces, and mortars — they 
have had authority to strike, if the UN asked 
them to, since last summer. Asked if the bridges 
the Serbs use to get reinforcements and supplies 
across the Drina River to the war zone could be 
bombed, the UB. delegate to NATO, Robert C. 
Hunter, said, “Only military targets," deliber- 
ately leaving them unclear. 

Officers in NATO’s Southern Europe com- 
mand in Naples also said Friday night that they 
expected to receive a detailed list of targets 
from the alliance’s military committee. 

But NATO officials in Brussels said that no 
targets on the eastern side of the river, on 
Serbian territory, even within the 20-kilometer 
zone, would be hit. Secretary of State Warren 
M. Christopher said Thursday that strikes 
against military objectives in Serbia might be 
considered later. 


The decision came on a day when the Serbs 
continued their shelling of Gorazde. with tank 

fire hilling a budding housing UN offices and a 
Red Cross refugee center. On Thursday, in 
what UN officials said was the worst day of 
shelling so far in the city, 97 people were killed. 

NATO governments, all facing mounting 
pressure from their constituents to do some- 
thing besides just stand by and watch the 
slaughter in Gorazde, seemed to be hoping the 
mere threat of wider bombing would persuade 
the Serbs to halt their advance on Gorazde. just 
as a NATO ultimatum in February persuaded 
them to stop the sheOing of Sarajevo then. The 
Serbs said they agreed to nun over their heavy 
weapons in Sarajevo to UN control because the 
Russians had asked them to. 

Pressure from the European allies on the 
United States to continue parallel efforts to 
reach a diplomatic settlement remained strong 
at Friday’s meeting, which was held at NATO’s 
headquarters outside Brussels. The allies also 
called on the Bosnian government forces in 


Gorazde not to try to use NATO protection to 
launch a military offensive of their own. 

NATO officials said that Russia, whose lead- 
er has called for a summit meeting of American, 
Russian. UN and European Union negotiators 
within the next month, would be kept closely 
informed of Friday's decision. 

American officials here described the deci- 
sion on Gorazde as the direct resu] t of a Clinton 
administration initiative. 

The UN has imposed an economic and stra- 
tegic embargo on Serbia for its support of 
Serbian nationalist attacks on Croatian and 
Muslim areas on Bosnia since 1992. but the 
United Slates did not succeed in winning sup- 
port front the allies to lift the arms embargo on 
aO of what used to be Yugoslavia for the Bosni- 
an Muslims. 

And despite an American attempt to short- 
circuit UN control over air strikes, the NATO 
military commander in charge or air operations 
over Bosnia, Admiral Leighton Smith, an 

See ULTIMATUM, Page 5 


*i 


After-Election Fears 
Shake South Africans 

Indians, Fearful of a Black Takeover, 
Are Turning to the Party of Apartheid 


By Kenneth B. Noble 

New York Tima Service 

PHOENIX, South Africa — There was 
nothing obviously threatening about the 
three Mack women who knocked on Neele 
Rajoo’s door last month and said they were 
looking for work. 

Although she had no use for another 
housekeeper, Mrs. Rajoo, 46, a shop clerk of 
Indian descent, offered them a seat and 
some water. 

“They were very well dressed and very 
educated and spoke perfect English,” Mrs. 
Rajoo said. 

Then, matter-of-factly, as though she 
were buying a packet of gum. me of the 
women placed a two-rand coin — about 60 
cents — into her empty cup. 

This, she said, was a deposit on Mrs. 
Rajoo’s house. They would return after elec- 
tion day, she added, to take possession of 
what was rightfully theirs. 

Odd encountos like this one have been 
reported with increasing frequency in the 
last few months here, part of a campaign 
that appears to be oiganizcd but remains 
mysterious in its origins. 

For Mis. Rajoo, however, there was no 


lapse of South Africa's apartheid system, the 
bulk of the Indian community, once consid- 
ered a natural ally of the black opposition, is 
now inclined to support the National Party, 
according to recent poQs and regional ana- 
lyses. 

For years, South Africa’s 1 milli on Indi- 
ans have faced a quandary. They are resent- 
ed by many blades, who see them as exploit- 
ative outsiders who treat Africans with 
condescension, if not outright disdain, yet 
they have never been accepted by whites. 

At die same time, people of Indian de- 
scent have been at the forefront of those 
opposed to the apartheid system. 

Perhaps most idling, Mohandas K. Gan- 
dhi, who spent two decades here around the 
start of the century, established the Natal 
Indian Congress, now the oldest political 
organization in the country and among the 
first to mount organized resistance to the 


disenfranchised blades. 

By most accounts, Gandhi took little in- 
terest in blacks, but bis theories powerfully 
influenced the African National Congress, 
which wa$ founded in 1912 and retained a 
creed of nonviolence for nearly half a centu- 


seize not only power but just about anything 
else they want, confident that the future 
black government will do little to stop them. 
That explains why she and her sister Ko- 


two-5 tary house in one of South Africa s few 
radally mixed residential areas, say they 
expect to cast their vote for the National 
Party, the inventors and enforcers of apart-. 

bad. . „ 

“Fve lived and worked with blacks all my 
life, and I’ve always supported their struggle 
and supported the African National Con- 
gress," Mrs. Rajoo said. “But now we^rc 
scared. When we look at the blades, whether 
it is the ANC or Inkatha, afl we see is 
violence and fighting." . 

The Rajoos’ radical shift in allegiances 
illustrates the extraordinary changes under 
way here on the outskirts of Durban, a port 
city and commercial center of Natal Prov- 
ing and heme to the largest concentration 
of Indians outside of India. They account 
for about 3 percent of South Africa’s popu- 
lation of 35 mflKofl. 

In yet another reverberation from thecot- 


regulariy invqked Gandhi as his spiritual 
mentor. 

Given the Indian com muni ty’s long iris to- 
xy in the black resistance struggle, analysts 


1 Itiffione t 


cal parties, mostly the African National 
Congress but also the Zulu-based Inkatha 
Freedom Parly in Natal. 

But lately there appears to be a dear shift 
of support in the Indian community toward 
the National Party. 

ANC officials deny any signs of disaffec- 
tion from potential Indian voters. 

“I just don’t bebeve that," said Jacob 
Zuma, the ANCs senior official in NataL 
“We have people out in the community, and 
wc know that the Indians arc strongly be- 
hind us.” ■ 

But others reject this argument Among 
those who believe that tbe National Party is 
likely to win big among Indians is Mah- 
moud Rajah, a former member of tbe dis- 
banded three-chamber parliament, which 

See VOTE, Plage 5 


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Prime Minister Hosokawa, right, greeting las successor, Foreign Minister Hata, after tbe coalition chose him Friday. 


Hata Is Unlikely 
To Move Boldly 

Experience May Hamper 
Next Japanese Leader 

By Steven Brull 

International Herald Tribune 

TOKYO — Japan’s next prime minuter, Tsutomu Hata, is 
committed to economic reform and is better equipped than his 
predecessor to get things done. But it is unlikely that he will 
throw open Japan’s markets or censure bureaucrats opposed to 
sweeping deregulation. 

Unlike his predecessor, Morihiro Hosokawa. who had little 
experience in national politics before becoming prime minis- 
ter, Mr. Hata, 58, has been a member of the Diet, or parlia- 
ment, for 25 years and has served as minister of agriculture, 
finance and, most recently, foreign affaire. Yet the wealth of 
bureaucratic and business connections he bas built up impose 
obligations that could Kant his ability to make bold moves. He 
also wiB be hampered by the fractiousness of the multiparty 
coalition that has governed Japan since last year. 

“Hata's ail improvement over Hosokawa in that the govern- 
ment will function better,” said a Western government offidaL 
“Yet the fundamental discontinuity of the coalition persists 
and we can’t see bold policies coming out,” 

The contentious two- week process that resulted in Mr. 
Hata’s nomination Friday as the governing coalition's candi- 
date clears the way for one important economic step: passage, 
most likely by the end of May, of the national budget for the 
fiscal year that began this mouth The fate of the budget had 
douded the outlook for Japan’s economy, which is expected to 
muster less than 1 percent growth this year. 

Die bickering and betrayal evident as the coalition's leaders 
first considered, then abandoned, an alliance with Michio 
Watanabe of tbe conservative liberal Democrats highlighted 
deep differences in personalities and policies that are likely to 
hinder Mr. Hata’s hand. 

In the platform supporting Mr. Hata's nomination, the 
Socialist coalition members’ objections to raising consumption 
taxes were papered over in fuzEy language. Many economists 
believe raising such taxes is crucial to overhauling the tax 
system so that it can cope with the rapidly aging society. 

The platform postpones a decision on taxes until the end of 
the year, but that will be too late for Tokyo to offer specific 
co mmi tments at tbe meeting of the Group of Seven leading 
industrialized nations in Naples in July. 

Tire United States, hoping to see Japan’s economy grow 
faster and suck in more imports, wants Tokyo to extend this 
year's cuts in income taxes for several years without increasing 
cons um ption taxes. But the Finance Ministry opposes tbe 
extension without a promise to finance the cuts with higher 
consumption taxes down tbe road. The standoff makes it more 
likely that Japan win offer instead to reflate its economy by 

See JAPAN, Page 5 


U.S. Might Go Outside UN for Sanctions on North Korea 


By R. Jeffrey Smith 

Washington Past Service 

TOKYO — Secretary of Defease William J. 
Perry warned Friday that the United Stales 
would seek to impose some form of economic 
sanctions against North Korea next month if 
tbe country failed to allow a satisfactory inter- 
national inspection a f its planned removal of 
spent fuel from a nuclear reactor. 

Mr. Ferry said senior South Korean and 
Japanese government officials had assured him 
of their support for such a move. He also said 
that if China, a dose ally of North Korea, 
blocked UN Security Council approval of any 
wnn tinns, Washington would still try to enlist 
other nations in an embargo of trade with 
North Korea. 

His statements were prompted by US. con- 


cern about North Korea's statement in a letter 
to the International Atomic Energy Agency this 
week that the spent fuel in a five- megawatt 
nuclear reactor at the Yongbyon complex north 
of Pyongyang will soon be withdrawn. 


U.S. officials say the fuel contains enough 
plutonium for the North to produce four to five 
nuclear weapons. It is suspected that it may 
already possess one or two such weapons. 

North Korea’s letter said that inspectors of 
the UN agency woe welcome to witness the 
fuel withdrawal process to ensure that the plu- 
tonium was not diverted to nuclear arms. Bnt it 
did not say how much access tbe inspectors 
could have or how long they could continue to 
monitor the fuel after it was withdrawn and 
placed in storage. 

US. officials said Mr. Perry’s remark was 


meant to give the agency leverage in talks with 
North Korean officials aimed at reaching a 
detailed agreement on the inspection. They said 
they expected the agency to demand not only 
that the fuel be subject to continuous monitor- 
ing, but also that sampling be allowed to deter- 
mine how long it had been in the reactor’s core. 

Drey said that such an analysis could shed 
light mi how much plutonium had already been 
extracted from spent reactor fueL 

“It is very dear that the IAEA believes that 
they need more than physical presence” while 
the spent fuel is being removed, Mr. Peny said. 

If North Korea blocks tbe new inspection, 
Mr. Perry said, the United States will ask the 
United Nations to impose sanctions on North 
Korea. On the question of whether China, a 
permanent member of the UN Security Coun- 


cil, would veto the U.S. proposal, be said, “I 
would not want to go out on a limb ” 

But if the United Nations was “not able to 
agree,” Mr. Perry said, “we would then seek a 
way of imposing a multinational sanctions." 

He added that any sanctions would be im- 
posed in phases, with tbe first phase likely to be 
of modest scope and lacking a “harsh” system 
of enforcing compliance. 

Mr. Perry said that if North Korean actions 
made sanctions appear likely, he would lake 
steps to improve the readiness of U.S. forces 
ana request “comparable actions" by South 
Korea. He declined to elaborate, bur other 
officials said additional U.S. troops and mili- 
tary equipment might be sent to South Korea 
ana forces of both countries put on a higher 
state of alert. 




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Jordan -1 JD u A.E. .....8J0 Wrtj 

Lebanon ...US$1.50 U.S. Mil. (Eur.) tl.io 


Lone Norwegian Reaches the North Pole A Real live Toon Goes Splat 


By Steve Vogel 

Was h ingt o n Pm Service 

OSLO — Boerge Ousland was carrying Jimi Hendrix, Herman Hesse 
and a .44-magnum to the North Pole, bat not a whole lot else. There 
were no traveling companions, no dogs pulling his sledge, not even 
airplanes dropping supplies. 

Die Norwegian reached the NorthPojje. on ^ a 
reach the pole aloae and without any help. 


reach & pore mane and without any help- 

Mr. Ousland, a 31-year-old North Sea diver, set off on skis From .Cape 
Arktidaskycm the northern tip of Sberia on March 2. Since then he ires 
AemoomA Wc deHo* ru»rfv finn miles n.D00 kilometers) over some ot lne 


aruoiGU susuiee uwuy vw uw* , , , 

most difficult and dangerous territory on Earth. has reached the 
pole and sent a sateffiie transmission saying ‘Expedition ended, want 
pick-up* ” said his spokesmarvHans Christum Eriandsen. 

“This is an unmerciful place to be,” Mr. Ousland said in a rad* 0 
contact Wednesday, when he was about 20 miles from the pole. 

He reported that Iris face was so swollen by the cold that he was 


hpvfn g difficulty opening his eyes when he wakes. On Tuesday, he said, 
he almost fell through a crack into the polar sea. 

In Mr. Eriandsen’ s office in Oslo, where Mr. Ousland's progress was 
recorded via satellite, a map on a computer screen showed a line bearing 
down on tbe North Pole at the astounding rate of more than II miles a 
day. 

“He’s quite exhausted, I think, feeling the psychological strain of it 
an," said his mother, Ingrid Ousland, after her son signed off the radio 
Wednesday. “He’s really looking forward to getting to the pole and 
hi»fng finished with the whole dang." 

Mr. Ousland’s expedition is a national sensation in Norway, where 
Storied polar explorers such as Fridtjof Nansen and Roald Amundsen 
arestiUw>^DB«hHvebeenalmostdailynewspaperrepomtrack- 
ing his progress. A television crew was on hand to record his 6-year-old 
son's birthday party this month in Oslo. 

Teams of Norwegian rroorters have already flown to Resolute in the 
rsmarKan Arctic, along with Mr. Oudand's father and best friend, and 

See EXPLOIT, Plage 5 


Compiled by Our Staff From Dispatches 

BERLIN — An extortionist who cap- 
tured Germany’s imagination by borrowing 
ideas from a cartoon character to outwit tbe 
police was raptured on Friday as he stepped 
out of a phone booth in eastern Benin, 
police sources said. 

According to the sources, the 44-year-old 
man, dubbed “Dagobert" after tire Uncle 
Scrooge character in. the Goman version of 
Walt Disney’s Donald Duck cartoons, had 
confessed to trying to extort 1.5 million 
marks (S900JXXR from the country's biggest 
relating ch^n, Karstadt, over the last two 


years. The police said he had set off at least 
five bombs in Karstadt stores throughout 
Germany. Two people woe wounded m tbe 
explosions. 

A police spokesman in Hamburg, where a 


special unit established to catch the black- 
mailer is based, would only say that a sus- 
pect had been detained. 

But the Berlin radio station SFB identi- 
fied him as an unemployed sign painter who 
lived with his wife and 3-year-old son in tbe 
southwest Berlin district of Mariendorf. 

Hailed by Der Spiegel magazine as Ger- 
many’s “Gangster of the Year" in 1993, the 
extortionist had become something of a folk 
hero for regularly embarrassing the police, 
leafing some to roecolate that the black- 
mailer was himself a police officer. 

The extortionist devised more than 30 
elaborate schemes •— many inspired by the 
Diawytales—tocoDecttheraiistmLButhe 
never received any money. 

Once he had uxd the authorities to pm a 

See ARREST, Phge 5 


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Page 2 



Peres and Arafat Press for Quick Self-Rule Agreement 


By Chris Hedges 

New York Times Service 

BUCHAREST — Foreign Minuter Shimon Peres 
and the PLO chairman, Yasser Arafat, have hdd the 
first high-level talks between the two sides in almost 
three months, planning to advance negotiations on the 
final differences bolding up the self-rule agreement for 
Gaza and the West Bank town of Jericho. 

The two men, who met Wednesday and Thursday, 

Mr. Arafat said the sesaonsliad been“Sq30rtant.“ 

“We are at the beginning of (be end,” Mr. Feres 
said, “and we are trying to find a way to complete this 
great historic voyage of the Palestinian people and the 
Israeli people.” 

Despite the progress that both sides said they had 
made, details of the final agreement still elude their 
negotiators in Cairo. Mr. Poes said he and Mr. Arafat 
might travel to Cairo next week to oversee the final 
stages of the talks there. 

The two leaders have resolved to conclude the 
negotiations within two to three weeks, although aides 
said they would not formally announce a date for fear 
of creating a deadline that might be missed. 

[Prime Minister Yitzhak Rabin said Friday that 
Israel and the PLO would wrap up an accord to launch 
Pales tinian self-rule in Gaza ana Jericho in mid-May, 
Agence France-Presse reported from Tel Aviv. 

[“I think we shall arrive at an accord in mid-May, 


but it is better not to set a date in advance," Mr. Rabin 
told journalists. “The main thing is to reach a detailed 
accord." 

Mr. Rabin said the army would complete its with- 
drawal “two or three weeks” after the accord was 
signed.] 

Mr. Peres also promised Mr. Arafat that once a 
P alestinian police force was in place in Gaza and 
Jericho, perhaps three weds after the agreement is 
signed, the Israelis would finish withdrawing in a 
matter of days, rather than weeks as originally 
planned. 

The foreign minister also discussed several lesser 
issues with Mr. Arafat, including legal jurisdiction in 
the Palestinian enclave, often taking tune out to speak 
by telephone with Prime Minister Yitzhak Rabin, 
officials said. 

The issue of the jailing of Palestinian prisoners who 
belong to the Islamic militant group Hamas and their 
release is one of the major hurdles that remains to be 
settled. 

Mr. Feres said that once the Israelis withdrew from 
the occupied Gaza Ship and Jericho, he expected that 
the tqlks aimed at defining Palestinian autonomy for 
all of the West Bank and Gaza would be concluded 
qmckJy, rather than in the three yean allotted for such 

negotiations. 

Both Mr. Peres and Mr. Arafat addressed the open- 
ing session of a conference of a foundation based in 


Switzerland, tbeCrans Montana Forum, and beaded a 
panel on economic prospects for the Middle East In 
discussions with the delegates, both made impas- 
sioned pleas for finnnraal assistan t*: 

“Up until now, the Palestinian economy has been 
undu Liiaeh occupation,” Mr. Arafat said. “It has 
been entirely linked to the Israeli economy. When the 
Israelis withdraw, our problems will be different. We 
will achieve authority, but after so many wars we need 
a Marshall Plan, as in Europe after the war” 

The two men, who said tney would meet ftyin on 
May 2 in Qiro to discuss economic aid with foreign 
donors, held their talks hoe with a sense of urgency, 
according to those who sat in on the discussions. 

The massacre erf at least 29 Palestinian worshipers 
in a Hebron mosque in February and two suicide 
bomb attacks by Ltiamic militants against Israeli citi- 
zens were seen by both men as a direct result of the 
long delay in carrying out the self-rule agreement 
Both men warned that any derailment of the accord 
would only further fud militancy. 

“If we do not achieve peace, the only alternative will 
be complete confusion and a B alkaniza tion of the 
conflict," Mr. Arafat said. 

Bui the PLO chief was also unusually upbeat, saying 
for the first time io several weeks lha! he bdieved an 
agreement would be obtainable soon. 

“1 am sure,” Mr. Arafat said, “that we are at the end 

Of this long march. " 


Islam Group Claims 
Killing of Soldier 

The Associated Press 

JERUSALEM — The militant Islamic group 
Hamas claimed responsibility Friday for the kill- 
ing of an Israeli soldier in a West Bank village. He 
had bear stabbed right times in the back. 

An anonymous caller to Israel Radio said mem- 
bers of Hamas had killed the soldier Thursday, a 
police spokesman said. Previous attacks by Hamas 
and Islamic Jihad, another militan t group, have 
left 13 Israelis dead and 80 wounded this month. 

Meanwhile, armed underground groups linked 
lo Halvas and the Palestine Liberation Organiza- 
tion announced Friday thar they had signed a 
cease-fire agreement in die Gaza Strip. Tney re- 
nounced “disputes and bloody conflicts" and 
agreed to put killings of Arab coflabonuore on 
hdd for a month. 

The two groups issued the joint statement in 
defiance of Israel’s threat earlier this week not to 

implement autonomy if the PLO cooperates with 

Hamas or other groups that are killin g Israelis. 


Police Raid 
Rightists 
In Germany 

Reuters 

COLOGNE — The police on 
Friday raided an office of Germa- 
ny’s far-rightist Republican Party, 
whose leader sparked an uproar 
last month by accusing Jewish lead- 
ers of causing anti-Semitism. 

The raid on the office in Munich 
and other raids on apartments of 
party members were part of a probe 
into the involvement of Republican 
Party officials in a racist attack on 


ecutor, Wolfgang Weber, saic 

German states have been moni- 
toring the party as part of a crack- 
down on neo-Nazi and other right- 
ist violence that has killed up to 30 
people since unification in 1990. 

The western state of North 
Rhine- Westphalia, where 
is situated, reported earlier 
month it had evidence that Repub- 
lican officials were involved in 
some racist assaults. 

It said that the party, the second- 
strongest far-rightist group in Ger- 
many, with 23,000 members, had 
hushed up the involvement of one 
of their officials in an arson attack 
on a refugee hostel because it 
feared for the party’s reputation. 

fa October 199 1, a group oflO to 
20 people attacked the couple from 
Zaire, injuring the husband. The 
gang later attacked a refugee hostel 
and smashed all its windows. 

Last month, on the day after a 
synagogue in the northern city of 
L&bedc was fire-bombed, Franz 
Schdnhuber, a former Waffen-SS 
officer, accused the German Jewish 
leader, Ignatz Bubis, of bring the. 
worst mater of race hatred and the 
cause of anti-Semitism here. 

His outburst aroused angry con- 
demnation from Jewish and liberal 
groups, and met with calls for the 
Republicans to be banned as a dan- 
to democracy, a move that 
riJor Helmut Kohl has ruled 
out. 

Mr. Kohl said the Republicans 
must be fought with political argu- 
ments and not by driving them un- 


LENIN REMEMBERED — A demonstrator with a portrait of Lena at a rally on Friday in Moscow^narking the 124tfa anniversary of the first Sorietjead^s birth. 


Teen’s Mother Petitions Singapore Over Caning 


ger to 
Ghancrii 


has banned several ex- 
treme-rightist parties and neo-Nazi 
groups not formally organized as 
political parties as part of a crack- 
down since late 1992 on far-rightist , 
violence. 


Complied by Our Staff From Dispatches 

SINGAPORE — The mother of 
an American teenager sentenced to 
be caned for vandalizing cars deliv- 
ered a petition to the president of 
Singapore requesting a reprieve. 

Randy Chan, the mother of Mi- 
chael F. Fay, carried five bundles of 
names from the United States, Brit- 
ain, Singapore and Hong Kong to a 
guard post at the presidential pal- 
ace, according to a defense lawyer, 
Christine Um, 

Mrs. Qian, who returned to Sin- 
from the United States on 
iy, gathered the signatures in 
an effort to persuade the govern- 


ment to spare her son, who pleaded 
guilty last month to two counts of 
vandalism. Each count carries a 
mandatory three lashes with a rat- 
tan cane on bare buttocks. 

The petition, with more than 
6,000 signatures, was separate from 
a clemency appeal filed Wednesday 
that is the last dumce to escape the 
lash for Mr. Fay, who has been 
living in Singapore with his mother 
and stepfather since 1992. He also 
is serving a four-month jail term for 


a 10-day vandalism spree last Sep- 
tember .with other foreign teen- 

»ig£rs« 

There has been no official com- 
ment about the petition campaign 
or the clemency, plea to PrcsideDt 
Qng Teng Cbeong. Under Singa- 
pore procedure, Mr. Ongmost con- 
salt the cabinet before making a 
decision on Mr. Fay’s formal legal 
idea. The cabinet was not expected 
to meet again until Wednesday. 

An average of 1,000 people re- 


ceive caning as punishment each 
year in Singapore for various 
crimes, according to official fig- 
ures. 

Twice this past week, the Minis- 
try of Home Affairs issued state- 
ments criticizing American news 
reports that the police bullied Mr. 
Fay into making a confession. 

“President din ton himself was 
reported to have said that ‘it’s not 
entirely dear that his confession 
wasn’t coerced from him,’ notwith- 


IT 






The United States Travel and Tourism Administration 
(USTTA) intends to contract with a qualified responsible 
firm to provide warehouse and customer order filling 
services for the distribution of the USTTA HOLIDAY 
PLANNER in France and Germany. The contractor shall 
directly receive and fill individual consumer orders for the 
PLANNER, and perform the same services for orders 
received from the U.S. Government and the European 
travel trade. The USTTA will provide the PLANNERS as 
Government Furnished Property (GFP) to the contractor 
for inventory and distribution free of charge. The 
contractor’s cost of operations (warehousing, inventorying, 
cost of taking orders), and a reasonable profit shall be 
passed onto the individual consumer via the retail price of 
obtaining a PLANNER. The contractor may be required to 
transport GFP from current warehouse locations in Europe 
to its own facility. The contractor is required to have its 
operating facility in Europe. 

Interested parties should request a copy of the 
solicitation (number 52-SAIS4Q00-55) in writin g fro m 
Mr. Max OUendorff at the American Embassay (USTTA), 
^ 2, Avenue Gabriel, 75383 ParisCed^c 08, France. 


Medical Aide Opposes Using Doctors to Monitor Flogging 


Reuters 

SYDNEY — The chief of the 
World Medical Association, an in- 
ternational doctors’ group, said 
Friday that doctors should not 
serve as monitors of judicial flog- 
gings or amputations. 

“If I was asked to certify some- 
one as suitable for a Hogging. I 
would amply say ‘No’, because I 


don’t believe anybody is fit for a 
flogging," Dr. Ian Field, the associ- 
ation’s secretary-general said at as 
press conference at the 138th 
WMA Council Meeting in Sydney. 

Dr. Field would not comment 
directly on the cases of two teen- 
agers in Singapore sentenced to 
caning, but said the association op- 


posed the involvement of doctors 
m such punishment. 

“What does concern us very 
much is the attempt by the authori- 
ties to involve doctors in these pro- 
cedures, whether we are talking 
about the amputation of limbs as a 
form of judicial punishment, can- 
ing or flogging or anything rise,” be 
said. 


Dr. Field said he understood 
that Singapore required a doctor to 
certify that a person is Bt for caning 
and to be present during the pun- 
ishment to monitor the prisoner’s 
health. 

“I don’t think (hat is a doctors’ 
responsibility and that is not why 
we trained in medicine to provide 
this sort of asastance," he said. 


Aid Groups and Africans Assail UN’s Rwanda Cuts 


Reuters 

LONDON — Relief agencies 
and the Organization of Af rican 


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Pacific Western Uhiversm 


Unify cm Friday condemned a 
United Nations decision to with- 
draw all but a skeleton force of 
peacekeepers from Rwanda. 

The UN Security Council decid- 
ed on Thursday to cut its force in 
Rwanda to a minimum of 270 
troops, despite fears that the move 
would only increase the carnage in 
the Central African country. 

On Friday, UN relief officials 
called off two flights carrying 
emergency aid to Kigali, citing 
poor security around the Rwandan 
capital’s airoort 

Rwanda has been plunged into a 
tribal bloodbath since a plane crash 


on April 6 that lolled the presidents 
of Rwanda and neighboring Bu- 
rundi. An estimated 100,000 people 
have been killed. 

Id Addis Ababa, Ethiopia, the 
Organization of African Unity ac- 
cused the United Nations of aban- 
doning the Rwandan people. 

Die group’s secretary-general, 
Salim Ahmed Salim, said the deci- 
sion to cut UN forces revealed a 
lack of concern for Africa at a time 
when the world body was increas- 
ingly involved elsewhere. 

in London, David Bryar, direc- 
tor of Oxfam, said the aid agency 
was “outraged" at what he called a 


“short-sighted, callous decision” to 
withdraw most of the UN force, 
which at one time numbered 2J00 


troops. 
The l 


International Committee of 
the Red Cross warned this week 
that it would be a mistake for the 
UN forces to pull out It said it had 
tardy seen massacres on such a 
scale as in Rwanda. 

■ Strife in Burundi Capital 

Gunfire broke out Friday in the 
Burundian capital, Bujumbura, 
amid fears of an eruption of ethnic 
violence like that in Rwanda, 
Agence France-Presse reported. 


WORLD BRIEFS 


Algeria Group Warns Foreign Firms 

MADRID (Reuters) — Islamic fundamentalists have warned foreign 
businesses to leave Algeria or risk bong attackedbwh inside and outside 
the country, the Spanish daily El Pais reported Fnday. 

The Supreme Council of the Islamic Armed Forces, a shadowy entity 
finking three militant factions, sent a statement to Western embassies and 
consuls in Algeria on Thursday, said the El Pais correspondent, Fenan 

The letter accused foreign companies of collaborating with President 
Lamine Zeroual’s government in the repression of fundamentalists. 
“Embassies have informed their respective governments of its ,conten^ 
and have warned thdr businessmen of this new threat,” wow Mr. Sales, 
who is one of the few foreign journalists remaining in Algeria. 

Black-Sea Fleet Talks End in Failure 

SEVASTOPOL, Ukraine (Ratios) — Negotiations between Ukraine 
and Russia on dividing the Black Sea Fleet ended infaDurc Fnday. with (he 

* m 7° «... r . -Vi— T TW^ini Xiifiictrv mw! 



> u> min^ utu Ui uiiiu^ vainmw j — • 

Alexander Kluban, a ministry spokesman, said the talks foandawl on 
the issue of where to base the two rides’ naval forces. He said Defense 
Minister PavelS. Grachev of Russia tore ly an agreement on splitting the 
fleet’s ships reached eariier and left without saying goodbye to Us 
Ukrainian hosts. 

General Grachev said the two days of talks at Sevastopol, me fleet’s 
headquarters, produced “no results." He dedined to sign the accord under 
which Ukraine was to keep about 20 percent of the fleet's 833 vessels. 

Italian Traders Hold Cabinet Talks 

ROME (Reuterc) — President Oscar Luigi Scalfaro began fonna] 
consultations with political leaders on Friday to start forming Italy’s fust 
government since a three-party conservative coalition dominated elec- 
tions last month. 

Mr. Scalfaro met Carlo Scognamiglio, the Senate president, who was 
e fortfri on the media magnate Silvio BeriusconPs Fraza Italia ticket He 
was holding talks later Friday with the speaker of die lower house, Irene 
Pivetti, a member of the Northern League. The third ooafition partner is 
die poof assist National Alliance. 

Theconsultatioosare dne to end Tuesday. Political analysts expect Mr. 
Scalfaro to ask Mr. Berlusconi to form a government Mr. Berlusconi 
would t h e n begin consultations with his coalition partners to form a 
cabinet 

U.S. Won’t Stop Returning Haitians 

WASHINGTON (Reuters) —The United States said Friday it would 

maintain jtsprJify rffnrriMy rehirnnig Haitian boat people to Haiti. The 
.State Department spokesman. Mike McCrary, said the Coast Guard’s^ 
decision to allow passengers ashore Thursday from a crowded vesser 
intercepted dose to the Florida coast was a humanitarian exception. 

The policy of forcible return, carried out despite a wave ofpoljtkal 
murders in Haiti of opponents of its miHlaiy leaders, has attracted strong 
criticism in recent days. The deposed president of Haiti, the Reverend 
Jean-Bertrand Aristide; branded it Thursday as racist, a view echoed by 
the Pfr ** Caucus in Congress and a number of prominent Democrats. 

The Clinton administration is preparing to step up an economic 
embargo of Haiti in an effort to force its rmbtaxy rulers to step aside and 
allow Father Aristide to return. 

Poll Finds Kohl Gaining on Rivals 

BONN (Renters) — Chancellor Helmut Kohl is catching up on his 
Social Democrat rivals as more people believe the economy is emerging 
from recession, acoording to an opinion poll released Friday. 

The monthly Tt^tbarometer survey for ZDF television indicated 
that Mr. Kohl's Christian Democrats would win 37 percent of the vote if 
g yiMwl ejections were hdd now, up one point from March, and the Social 
Democrats would score an unchanged 39 percent. 

The poll showed personal support for Mr. Kohl rose to 39 percent in 


standing that Fay was given dne 
process of law,” said the statement 
issued Thursday. 

“In October 1993. the US. Em- 
bassy complained that Fay had 
been physically abused," the state- 
ment added. “A Ministry of Home 
Affairs investigation found no evi- 
dence of police abuse. Die UJ3. 
Embassy received a full account 
refuting this complaint. It did not 
pursue the matter further." 

(AP, Reuters) 


from 35 percent in Marti, while the opposition leader, Rudolf 
slipped 7 points, to 47 percent. 

FortheRecord 

Die Dutch and German defense ministen signed an accord Friday for a 
joint aimy craps. It creates a 50,000-man unit, with equal numbers of 
Dutch and German personnel, that will be under NATO c omman d and 
have joint training; exercises and logistical operations. (AP) 


TRAVEL UPDATE 

British Airways-Ixtganair Link Is Set 

GLASGOW (AFP) — British Airways and the Scottish airline Logan- 
air announced a preliminary agreement on an eight-year franchise ar- 
rangement on Scottish rootes. It calls for Loganair to operate a service 
within Scotland called Britid) Air Express, osmgBritirii Airways planes. 

British Air win take many of its larger planes off Scottish routes. using 
them instead on cross-border routes, such as Glasgow-Birnringham. 
Those Scottish routes will be taken over by Loganair, which will run 
them, along with its own Scottish routes, under the British Air Express 
banner. Loganair, owned byAirimesof Britain Holdings, gave up its non- 
Soottish routes to Manx, also part of the ABH group, eariier this year. 

A one-week pass to visit the Angkor temple complex will cost $60 
starting in May, the Cambodian press agency AKP reported. One-day 
and three-day tickets also will be offered, at $20 and 540. (AFP) 

SouA Korean visitors to Canada wfll no tamer need visas, the Canadian 
minis ter of citizenship and immigration, Sergio March!, announced. 
More than 35,000 South Koreans visited Canada in 1993. (AFP) 


Britons Prefer Solemnity 
To Celebration for D-Day 

Agence France-Presse 

LONDON — A large majority of Britons disagree with faltering 
government plans for a national celebration to mark the 50th 
anniversary of D-Day and support calls for solemn commemoration, 
a poll indicated Friday. 

Of 1,062 adults interviewed across Britain, 62 percent of those L 
over 18 and 72 percent of people old enough to remember the 1944 W 
landings in Normandy said they believed that “solemn natio nal 
ceremonies of commemoration to remember the dead" were the right 
way to marie the day, the NOP poU for The Independent found. 

Also, 52 percent disagreed with “the government’s plan to have a 
national celebration" and 65 percent agreed with criticism by D-Day 
veterans that the anniversary would be “trivialized by firework 
displays and street parties." 

Following a barrage of mutism from veterans and members of 
Parliament across party lines, and urgent meetings with representa- 
tives of the Normandy Veterans’ Association and the Royal British 
Legion, the government has agreed to tone down plans for what it 
onginaUy described as “a dazzlingjy entertaining family day" on 
July 3 in London’s Hyde Park. 

Veterans, backed by the wartime armed forces “sweetheart." 
Dame Vera Lynn, eariier this week threatened a boycott, but have 


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INTERNATIONAL HERALD TRIBUNE, SATORP AY-SUNDAY, APRIL 23-24, 1994 

theamericas/ heo-welfai 


Page 3 



Politicians Latch Onto a Radical Reform of the Dole — By Abolishing It 


^'Knd 




By Jason DeParle 

New fork Times Service 

■ cSESZrr “ Adecade ^ when 
• hrSL w iy f,m pop™* abolishing wel- 

ifaat even be would 

■ ^ he conducting a 

thought experiment bv suggesting that ooor 

women ^ child™ shoo JnSftT&Z 
selves, without government aid. 

Now. with a force that has stunned even Mr. 
iin?3'J£ bUc t* xa “tracing tbe idea. The 

tauc of reforming welfare by extinguishing it 

ther^h^ ^ ^ *' asl die debate is moving to 

anS ^ pr0pOSaI * «> become law 

JS2S“ ^Port for it could fracture the 
lr a&le consensus around propo l is like those of 


President Bill Clinton, which would preserve 
benefits but make people work for them. 

Last week three leaders of the Republican 
Party, including Jade F. Kemp, the self-styled 
“bleeding-heart conservative;’* signed on to a 
plan that would abolish payments to women 
younger than 21. There are at least three related 
proposals in Congress, and two of them would 
allow states to extend it to women of all ages. 

The trend partly reflects a partisan attempt 
by Republicans to distinguish themselves on 
the welfare issue. But one of the bills has a 
Democratic author. Senator Joseph I. Ueber- 
man of Connecticut. 

Mr. Murray, now affiliated with the Ameri- 
can Enterprise Institute, a Washington research 
group, is no longer thinking out loud. He main- 
tains that the drastic move is needed to reverse 
the spiraling rates of out-of-wedlock births, 


which be says portends a white underclass and 
an authoritarian state. 

But skeptics say that cutting off government 
aid would icad to increased homelessness, child 
abandonment, hunger, abortion and perhaps 
even street violence. Senator Daniel Patrick 
Moynihan, Democrat or New York, said last 
week that the move could provoke “scenes of 
social trauma such as we haven’t knows since 
the cholera epidemics." 

The hills tacitly acknowledge some of the 
risks, by providing money to build homeless 
shelters and orphanages; Sena tor Moynihan 
vowed that as longasne was chairman of the 
Senate Finance Committee, which controls wel- 
fare policy, “this kind of thing is simply not 
going to happen.’' 

But he agreed that welfare politics was in a 
volatile state in dec lion year. Consider a Dem- 


ocratic president is about to propose a hill that 
would impose the toughest work requirements 
in the welfare program's half-century history. 

But House Republicans are already calling 
the plan too soft, and they have drafted a bill 
with even stricter work requirements. Now Mr. 
Kemp is arguing that even that measure does 
not go far enough. He outlined his views last 
week is a public memorandum, which was co- 
authored by his co-directors at the political 
organization Empower America. They are Wil- 
liam J. Bennett, the former secretary of educa- 
tion, and Vm Weber, a former Republican 
congressman from Minnesota. The memoran- 
dum was striking La its partisan tone, which 
may reflect a Republican fear that Mr. Clinton 
is stealing the welfare issue from them. 

: politics was in a Representative Newt Gingrich of Georgia, 
Consider: aDem- the Republican whip, said the move was an 


attempt by Mr. Kemp “to get more press atten- 
tion,** which Mr. Kemp acknowledged. But Mr. 
Gingrich added that he was among those inter- 
ested in abolishing welfare benefits. 

Nearly 30 percent of all Americans are now 
born to single mothers: 22 percent of whites 
and 66 percent of Macks. The figures have 
climbed every year For three deca d es, and most 
analysts view the trend with alarm. 

Mr. Murray has been sounding his warnings 
since at least 1984, when he proposed his 
thought experiment in the book “Losing 
Ground** (Basic Books). But he rose to new 
prominence last October with an article in The 
wall Street Journal that predicted the rise of a 
large white underclass. “Every once in a white 
the sky really is falling,** be wrote. 

Even Mr. Clinton praised his analysis as 


“essentially rigbi” while questioning his pre- 
scription. 

Analysts endlessly debate Mr. Murray's be- 
lief that the welfare system is a main cause of 
the rise in out-of-wedlock births. His detractors 
note that angle parenthood is also rising in 
other countries and among affluent Americans. 

Mr. Murray argues that, without welfare, 
out-of-wedlock births would fall by as much as 
SO percent in the first year. He argues that 
women who do have children they cannot sup- 
port could marry, seek charity, put their chil- 
dren up for adoption or in government-fi- 
nanced orphanages. 

Senator Lieberman argues that drastic situa- 
tions call for drastic measures; “I don’t want to 
sacrifice a generation of kids, but Fm also 
saying, ‘Let’s remember folks, the conditions 
that children are living in now are dreadful.’ " 






A POLITICAL NOTES + 


The Crime Bill: Something for Everyone 




T L * 


' i 1 
1 i L 


•_ f 


WASHINGTON —Now that the House has passed its anti-crime 
bill, a politically fetching package of tougher penalties and bigger 
prisons and more prevention programs, Congress likely to 
vote a final version into law by the end of May, when the summer 
campaign season gets under way. 

The vote Thursday was 285 to 14, after a week of debating and 
amending increased the bill’s stated cost to about $27.9 billion for 
the rest of the decade. The breakdown is S13J billion for new 
prisons, $5.3 billion to hire 50,000 new local police officers and to 
oepand federal law enforcement, and $9.2 billion for crime preven- 
tion and drug treatment. 

But those figures are largely for show. The final version still needs 
to be hammered out in discussions with senators who passed their 
own version of the crime bill last November. Both sides nave already 
agreed, that the spending wiD total $22.7 billion, including the 
Senate’s provision of $9 billion to hire and train 100,000 neighbor- 
hood police officers. 

How best to spend the rest — to punish existing crooks or to 
prevent youngsters from becoming new ones — will be the main 
issue in the committee negotiations, said the chief sponsor of the 
House measure, Representative Charles E. Schumer, Democrat of 
New York. 

The House would spend considerably more than the Senate on 
crime-prevention tactics like drug programs, family counseling, 
inner-city spots leagues and neighborhood watch groups. The 
Senate, in turn, would like to spend more on state prison construc- 
tion. 

Still, after decades in which Congress has repeatedly beefed up 
laws, built jails and warred on drugs and youth crime to little effect, 
some experts wondered aloud how much this latest measure could 
affect the streets. 

“It all depends on whether you want to be in the punishment 
business or the crime-control business," said Jerome H. Skolnick, a 
professor at the University of Califomia-Berkeley law school who 
heads the American Society of Criminology. 

“They're not the same, u you want to punish, fine; but it's very 
costly, ff you want to control crime, you’ve got to put your money 
into rehabilitation and prevention.’* (NYT) 

awteHkowtfcl: Lift Taxes tor Health C are 

BOSTON — Representative Dan Rostenkowski, chairman of the 
House Ways and Means Committee, called Friday for a “broad tax 
increase” to finance some of the cost of health care, and insisted that 
employers pay much of the cost of their workers’ premiums. 

The Illinois Democrat, one of the half-dozen most influential 
members of Congress on health care, said additional money was 
needed because be doubted the Clinton administration's estimates 
about cost savings. He said he did not want to seme new levy, like a 
' value-added tax, but instead preferred to expand “a "tax tfiai is 
already on the books." 

He would not say whether he wanted to raise income tax rates, 
adding he would make his proposal first to his committee when it 
convenes to deal with this issue, probably the week after next In the 
past he has also unsuccessfully advocated much higher gasoline 
taxes. . 

Mr. Rostenkowski’s proposal contradicts the Ointon administra- 


-a »■ - 


/..-Juft; 


lion's fear that health care legislation would be doomed if any major 
taxes were sought to finance it Mr. Rostenkowski said, “I think this 
is a major program, and if we are serious, we have to belly up tothe 
bar” . , , 

This was the second major congressional step w a week designed 
to move health care legislation out of the theoretical stage and into 
real lawmaking. (NYT) 

A 2d Senator S— fc» to Succ— d Mitchell 

WASHINGTON —The chairman erf the Sarnie Budget Commit- 
tee, Jim Sasser, a Tennessee Democrat, told colleagues that he would 
run to succeed Senator George J. Mitchell of Maize as majority 
leader virtually assuring a two-way race between Mr. Sasser and 
Senator Thomas A. Daschle of South Dakota for the party’s top 

leadership post this fall. . 

Mr Sasser, 56, is 10 years older than Mr. Daschle and has served 
in the Senate for 18 years, 10 years longer than Mr. I^schle. As a 
Southerner, Mr. Sasser may have an edge among Southerners, 
although leadership races do not always foUow regional tinea 

Both have IiberaJ-to-raoderate voting records and strong partisan 
credentials. In its ranking of votes last year, the National Journal 
showed Mr. Daschle voting more liberal than Mr. Sasser on ceaoam- 
ic policy, less liberal on social policy . fwn 

Quote/Unquote 

Ross Perot, tbe former and maybe future candidate for presidmt, 
on a plan to bypass congressional committees to cut spending: “We 
have roso through this process, unfortunately, because there’s no 
dtednlhMon spending. We stiU think that we are the tot supopow- 
SSSta money in to We ta’l Unlock.. 
Sk instrument panel and see that we’re running out of fueL (WP) 


y 


Away From Politics 


• Ljctenfnt to rescuers sirens, an injured woman used her mobile 

of her car which ted ptaged 
down an embankment fire fighters in Los Aiwdes. said. The^S-jear- 
old woman was found in a batf-bour and hospitalized in stable 
condition with a separated shoulder. 

• PMnfe relied for iury dutv wOJ be questioned mrtemBvdy about 

beliefs and attitudes now that the U.S. Supreme 
Sirtliasroted that potential jurors cannot beottluded because of 
■ their sex, lawyers andotber legal sfwciatisls predicted. 

• A chemical used in space-sbirttle engine fuel leaked from a storage 
faeflityattbe JohnronSpTccC^er in Texas, causwga toxic dpud. 
Se ttan 50 people suffered eye, nose, throat and skin imtauon. 

• hmadfv favor mating education rigorous by adding 
StiwKbool year.inCTeasiDg homewoik and imposing 

according to an A*odat«l Pass 

poll. M WP 


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TRIAL IN N.Y. SERIAL IpJJNGS — Joel Ri/kin, 34, who has admitted Mg 17 women, dozing doting tbe first day of 
testimony in Us trial in Mineoia, New York. Mr. Rifkin’s attorney is pursuing an insanity defense in the first case against him. 


First Lady Defends 
Financial Dealings 

Mrs. Clinton Says She Knows 
Of No S&L Aid to Campaign 


A New York Police Scourge: ‘Testifying’ 


By Joe Sexton 

New York Times Service 

NEW YORK —City police offi- 
cers often make false arrests, 
tamper with evidence and commit 
perjury on the witness stand, ac- 
cording to a draft report of the 
mayoral commisaon investigating 
police corruption. 

The practice — by officers either 
legitimately interested in clearing 
the streets of criminals or simply 
eager to inflate statistics ~ has at 
times been condoned by superiors, 
the report said. And it is prevalent 
enough in the department that it 
has its own nickname; “tcstilying.” 

“Pcjury is perhaps the most 
widespread form of police wrong- 
doing facing today’s criminal jus- 
tice system, the draft report said. 

The report did not try to esti- 
mate what proportion of the de- 
partment had engaged in such 
practices, but based its judgment 
on the commission's two-year in- 
vestigation and interviews with 
semes of officers; 

The finding, coining on the heels 
of recent corruption scandals in- 
volving drug dealing and brutality, 
will further threaten public confi- 
dence in the integrity of the Police 
Department, the report said. The 
study also described a level of mis- 
conduct and abuse that goes well 
beyond what the commission had 
made public in an interim finding 
in December. 

In its new findings, the MoQen 
Commission report also said- that 
the number of corruption cases 
“buried” by the Police Depart- 
ment's Internal Affairs Division 
was more than three times greater 
than first suspected. 

In addition, the report found 
that in at least two-instances repre- 
sentatives of tbe police union had 
“tipped off” targets of inquiries. 

And in its discussion of false 
testimony by officers, the report 


said that the commission “was told 
of officers up to the rank of captain 
being actively oomplidt in and 
even encouraging warrantless 
searches and subsequent perjury” 
“This is corruption more harm- 
ful to relations between police and 
the public than anything the do-' 
panment and the city have experi- 
enced before;” the document said. 

Milton Molten, the former depu- 
ty mayor who was appointed to 
bead the commission, said that the 
draft report was undergoing “sub- 
stantial revisions” and that the fi- 
nal repot “will be very different" 
He would not say what the revi- 
sions concerned, and be declined to 
answer questions about the sub- 
stantive conclusions arrived at in 
the draft report A copy of the 
t was shown to The New York 
by a law-enforcement offi- 
cial. 

The police commissioner, Wil- 
liam Bratton, said he would not 
comment on any aspect of the draft 
would reserveiudement 


report and would reservej 
until the final version was of: 


idally 

released. The final report is sched- 
uled to be released by the end of 


May. An official with the commis- 
sion said that although tbe report 
was being revised, toe substantive 
findings would not change. 

The report suggests that, for all 
of the recent graphic cases of bru- 
tality and ste a ling by groups of 
officers in a handful erf precincts 
throughout the- city, the repeated 
instances of perjury and false ar- 
rests were just as disturbing. 

It cited numerous instances of 
police officers tampering with evi- 
dence to justify arrests, fa'~ s ‘’~~“ 


reports and then lying under oal 
when questioned by prosecutors. It 
also said the Polioc Department's 
own corruption categories did not 
even induce a category for perjury 
or falsification of records. 

“One commanding officer en- 
couraged such illegal searches and 
arrest charges as a means of bol- 


stering his unit’s performance re- 
cord/ the report said. 

Robot Morgen thau, the district 
attorney for Manhattan, said he 
thought the scope of the perjury 
problem might be exaggerated in 
the report But he said he had pros- 
ecuted a handful of perjury cases 
against police officers recently, and 
that one major drug conviction had 
been dismissed after it was discov- 
ered that the police had lied about 
tbe reason for the initial arrest. 

Charles Hynes, tbe district attor- 
ney for Brooklyn, said that police 
officers often tried to get around 
the problem of needing probable 
cause before malting an arrest by 
what he called “the dropsy syn- 
drome” — falsely testifying that a 
suspect “tossed a package contain- 
ing white powder to the ground” as 
he was approached. 


The Associated Press 

WASHINGTON — Hillary 
Rodham Clinton said Friday she 
had no knowledge of any money 
from a failed A rkansas savings and 
loan being transferred into her hus- 
band's 1984 gubernatorial cam- 

dent’s wife also ac- 
knowledged that she had opposed 
the appointment of a special coun- 
sel to investigate the Clintons' fi- 
nancial dealings, including those of 
the savings and loan and an associ- 
ated real estate development called 
Whitewater. 

Additionally, in an extraordi- 
nary, houriong news conference 
earned on all roar major U.S. tele- 
vision networks, Mrs. Clinton de- 
fended her lucrative trading in 
commodities futures under the 
guidance of an Arkansas lawyer 
who represented one of tbe biggest 
companies in the state. 

within a few months, she man- 
aged to expand a S 1,000 investment 
into $100,000, trading in commod- 
ities she acknowledged she knew 
very little about. 

Seated in a chair in the State 
Dining Room, Mrs. Clinton calmly 
fielded questions about the intrica- 
cies of her financial dealings as well 
as the political fallout the contro- 
versy has brought on the adminis- 
tration of President Bill Clinton. 

While patient with the question- 
era, she said she was mystified at all 
the questions over a land investment 
that turned out to lose money. 

“It keeps getting beat like the 
deadest horse it is, over and over 
again,” she said. 

The real estate investment and 
its relationship with the failed 
Madison Guaranty Savings & 
Loan is at the center of an investi- 

r tion by a special counsel, Robert 
Fiske Jr., into the Clintons' fi- 
nancial Hwtiinp in Ar kansas . 

Mrs. Clinton acknowledged pub- 
licly on Friday for the first time 
that she had opposed the appoint- 
ment of a special counsel. 


“But the president made the de- 
cision that we had to get on with 
the important business that we 
came to Washington to do,” she 
said. “This is not a long-term issue 
or a problem in any way.” 

She also conceded that the White 
House and the Clintons* personal 
attorney had provided int 
accounts of her financial 
in the past. She attributed that to 
confusion and missing records, not 
any attempt to mislead. 

“There wasn't any one peraon in 
of trying to get everything 
r," Mis. Clinton said. “We 
the best job we could trying to 
remember dungs.” 

She took several questions about 
the suicide of the deputy White 
House counsel, Vincent W. Foster 
Jr., who had worked with her at the 
Rose Law Finn in Arkansas. She 
said she could not comment in de- 
tail on Ihe White House handling 
of documents found in Ms office 
because that was a subject of the 
special counsel's investigation. 

But she said was not aware until 
after Mr. Foster’s death that there 
were Whitewater and other din ton 
family financial records in his of- 
fice. Since then, Mrs. Clinton said, 
she learned that Mr. Foster had 
been helping the family's personal 
lawyer to set up a blind trust and 
deal with financial filings required 


of public officials. 
She als 


also said she did not believe 
there was any conflict in any of her 
legal work for companies that did 
business with the state while ha- 
husband was governor. 

Mrs. Ointon said repeatedly she 
did not believe that she or her hus- 
band had received any special 
treatment, either in the Whitewater 
investment or in her commodities 
trading. 

“There's really no evidence of 
that,” she said when asked if she 
believed she got special treatment 
or favors from her commodities 
trader because her husband was 
Arkansas governor. 


TOOUR 



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rtdaod redouroni, 1 d noot- MeUentr-v- 
TeL 5128843. Air coiSfoed. 8ttoOpf°- 
Noon3 pin. 1 6 pm-lonv, ««F Sunday, 
qpenhredoys. 


RELIGIOUS SERVICES 


AMSTERDAM 

CROSSROADS INTERNATIONAL CHUR- 
CH (nterdenorrinaBanel & Evangelical Sun- 
day Service 1030 am a iiao a ml Wda 
Wafcoma. Do Cmntrad i, S. Amsterdam 

Ho. 02940-15816 oroesos-tiaoe. 

MILAN 

ALL SANTS CHURCH 
duHQ loatocation Hfl mu _ 

March tha Chapel otthaL 

__ 

(02) 655 S 

MUNICH 

ah 4napm Surfeso at Emircr Str. 10 {D 2 
ItaafiMrJ (C89) §34574, 

MONTE CARLO 

WTL FELLOWSHIP, 9 Rue Loub-Noteri. 
Sunday Worship 11 X>0 & 6 p.m. 
TaLS2ia5&oa 

PARIS and SUBURBS 

HOPE INTERNATIONAL CKWCH (Ewn- 
). Sin. 990 am Hotel Orion. Metro 1 ; 
da La DOansa TsL 47.705354 
or 47.75.1 427. 

THE SCOTS KIRK (PRESBYTERIAN) 17. 
rue Bayard. 75008 Paris. Motra FD Rooae- 
vaX Farnly service & Smday Stfnot tt 1090 
am every Sunday, ai w o tao mo . For Harma- 
fan48 7tf4794. 

SAINT JOSEPH’S CHURCH (Roman 
Catholic). Masses Saturday Evenra 8:30 
p.m., Sunday. 9:45 . 1 1x0. 12:15 and 
630 pm 50, avenue Koehe, Parte 8th. 
TsL 4227.2856 MeCw Charles da Genie - 
Etote. 

STRASBOURG 

ST. ALBAN (AngScan) at fEgSse des DomH- 
cains. Euchari* 1090 am oomerBW. da te 
Victtrire & rue da rUntorsM, Strasbourg 
(33)88350340. 

. TIRANE 

NTERNATIONAL PROTESTANT ASSEM- 
BLY, W mteB w h fcwl & EvanjjefcaL Sa- 
vtes; Sun. 1090 am, SOO cun. Wed. SO) 
p m H u m My sftnw Stoyri. Tel/Fax 35543- 
42372 Or 23282. 

TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near Sdabashi Sn. Tel.: 3251- 
374a Wonftp Service: 930 am. Sirdays. 

TOKYO UNION CHURCH, near Omotesm- 
do subw» sta. TeL 34000047, Worertp ser- 
vicas Smday 890 & lift) am, SS a 9:45 
am 

VIENNA 

V^NA CHRISTIAN CENTER A CHARIS- 
MATIC FEUOWSHP FOR VIENNA'S IN- 
TERNATIONAL COMMUNITY, * EngSsh 
Language " Trans-denominational, maete el 
Ha to Tgasa 17. 1070 Verna. 6c00 pm E«y 
Svrtwil EVERYONE IS WELCOME. For 
more h m mrtfcn cat 43-1-31B-74-UX 


FLORENCE 

ST. JAMES’ CHURCH, Sm 9 am Rle I A 
11 am Rite II. Via Bernardo RucaBaf 9, 
50123, norerce. Italy. TeL 3955 2944 17. 

FRANKFURT 

CHURCH OF CHRIST THE KINS 


ry,U1,2,3MqueMfca.TaL48eB550164. 

GENEVA 

EMMANUEL CHURCH 1st »d & 5tfi Sui 10 
a.m. Eucharist & 2nd S 4th Sun. Morning 
Paper. 3 rue da MorttaK 1201 Genoa, srf 

z»Snd.ToL: 41/2273200 78. 

MUNICH 

THE CHURCH OF THE ASCENSION, Sum 
11:45 am Hoty EuchariS and Sunday School. 
Nursery Care provided. Saytothatrasse 4, 
81545 Munfadi (Hartaching). Germany. TeL: 
4069648185. 

ROME 

ST. PAUL'S WITW4TH&WALLS. Sun. 890 
am Holy Eircharist RBn 1 1090 am. Choral 
Eudraria Rto fr. 1093 am Chudi School ter 
chktan S Misery care provided; 1 pm Spa*- 
sh Eucftartet Vfa NapoB 58, 00184 Rome. 
TeL 3BB 488 3339 or 306 474 3560 

WATERLOO 

ALL SANTS CHURCH. 1st Sun. 9 & 11rt5 
am. Holy Eucharist eflh CWdrerfa 
11:15. AI offer 


etadstsnd 
Louvain, Ohain, 


11:15 am. Holy EU- 
563 OraJESas de 
TeL 32/2 3843556. 


WIESBADEN 

TVS CHURCH OF ST. AUGUBIMBGF CAN- 
TERBURY, Sun. 10 am Fan* EuchateL 
FienMurtorSffasse 3. W iesbaden, Germany. 
TeL 4961 19058.74. 


EUROPEAN 
BAPTIST CONVENTION 


BARCELONA 

FAfTH FELLOWSHIP INTERNATIONAL 
meets re 1600, Bona Nova Baptist Ctuch 
Cans’ da Ja Cuiai da Bateguar 40 Pastor 
Lorca Borden, Ph. 410-1661 . 

BERLIN 

INTERNATIONAL BAPTIST CHURCH. 
BBlW.RoffwturBSff.iar 

study 10.45. waisty at 1200 1 
Charles A. Warlord, Pastor. TeL 030-774 
487U 

BONN/KdlN 

THE WIEFNATTONAL BAPTIST CHURCH 
OF BOtvWKOLN, Fteinau Strasse 9, K9H. 
Worteilp i:0 0^pm CaNfci Hogue, Pastor. 


BUDAPEST 

tebmaSonte Baretat fttorwNp. II Btabo u 58 
(main ertmnceTapofcaarol a 7. bnnaCMely 
behhd fiort ertrenco). lodo BUa siudy. aoo 
pm Paata Bob Zbhden. TeL 11 581 18. 
(toadied by bull. 

BULGARIA 

INTERNATIONAL BAPTIST CHURCH. 
Sote Qand Na/odio Sofarerta Squsa Wor- 
ship It. ■00. Jamas Duke, Pastor. 
TeL 704367. 

CELLE/HANNOVER 

INTERNATIONAL BAPTIST CHURCH, 
VWtamfen Strasse 45, Calo 1300 Worship, 
1400 Btfe Study. Pastor Wort Crerpbol Ph. 
(05141)46416. 

DARMSTADT 

DARMSTACmSERSTACfrBAPttSTMB- 
SION. EHe study & Wonty Sunday 1090 
am Startmbatai Da^beretadt, Bueachatetr. 
22. BUa study 990, worship 10*5. Pastor 
Jm W4fcb.TaL 061S5-6009218. 

dOsseldorf 

NTSTNATTONAL BAPTIST CHURCH. En- 
gtoh. ts. 1000, worrtdp 11:05. Chadren's 
drcrdi and nueery. Meets at ffB Hemaionat 
School. Leuditenburger Kkchweg 2,D-Kai- 
aonwrert 'L FrterKflyfefcwsHp. AJI denomina- 
tions welcome. Dr. W.J. Delay, Pastor. 
TeL 021 WO0 157. 

FRANKFURT 

INTERNATIONAL CHRISTIAN FELLOW- 
8HP ErangelMh-FreidrcNche Gemdnda, 
Sodenasff. 11-18, 6380 Bad Horrfaug. pho- 
nWFax: 06173-82728 serving the Frawfun 
and Tauvs areas, Gomany. Sunday iwr- 
ship 0945, nueery + Sun da yechool ittOO. 
woman's btate etuSes. Housegron* - Sun- 
day + Wednesday 199U Pastor M. Levey, 
member European Baptist Oonv e ntfan. ~Oe- 
dare Hb i^oiy amongst toe nebona." 

BETHEL INTERNATIONAL BAPTIST 
CHURCH, Am Dabhstng 92. Prartdut aM 
Sundsy werehto 1 1X0 am and BOO pm. Dr. 
Thomas W. I-B, pastor. TaL 069-549550. 

HAMBURG 

INTERNATIONAL BAPTIST CHURCH 
OF HAMBURG maete at TABEA FEST- 
SAAL. AM 1SFELD 19. 1 


PRAGUE 

Mxnadonal Baptist Rribwehb meals at Jte 
Czech Baptist Church Wiohradsta ff 68. 
Prague a At metro atop Jrtwz Podebrad 
Sunday a.m. 11:00 Pastor. Bob Ford 
(093110693. 

WUPPERTAL 

International Bacttet Church. EngSsh. Ger- 
man, PareiaaWorshlp 1090 am. Seffsreff. 
21, Wtevertal - EbwfakL AI daramtafent 
welcome. Hans-D/eter Freund, puior. 
TeLQ2QW69B364. 

ZURICH 

INTERNATIONAL BAPTIST CHURCH of 
wadanstf path). Swtoriand, Rcsenbog- 
strasse 4. Worship Ssrvioes Sunday 
mornings 1 im Tab 1-7002812. 



BERLIN 

AMERICAN CHURCH W BERLIN, cor. of 
Cfay Afee & Pctectemar Sir, S-S. 990 an, 
Worship 11 am TeL 03t>81 32021. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRLBS&S. Sunday School 
990 am. and Chucti 10s45 am Katorberg, 
19 (at the InL School). TbIj 873.0591. 
Bus 95. Tram 94. 

COPENHAGEN 
INTERNATIONAL CHURCH of( 

27 Ba n rema da. Vattw. near I 
10rt5 & Vitofshp 1 1 90- TeL 3162478& 
FRANKFURT 
TRINITY LUTHBWN CHIATCH Nbekraan 
Alee 54 [Across tom Burger HoqftaQ. an- 
Schod 990. worehip 11 am TeL (068) 


GENEVA 

EV. LUTHERAN CHURCH at Geneva 20 
me Veidakie. Sunday wonMp 830. in Ger- 
nsn 1 190 In EruteK Tef: (0^ 3105089. 

JERUSALEM 

LUTHERAN CHURCH of t« Redeemer, Otd 
CSy. Murisfan Rd. Engtish worahp Sun. 9 


TeL (022369^ 


THE EPISCOPAL CHURCHES 
OFHJROPE(AngBocn) 


PARIS and SUBURB5 

THE AM5ICAN CATHEDRAL OP TIC HO- 
LY TWffTY, Sin 98 11 am 10 am Sun- 
day School (or chum and Nursery care. 
Thsd Sundw 5 pm Evensong. 23; avenue 
George V, Pads 75008. TeL 3&T 47 20 1792. 
Metre: George V or Alma Mercesu. 


BRATISLAVA 
BUs Study h Engteh 

PaSsady Bepdet Ctwch Zrinskaho 2 1690- 
1745. 

BREMEN 

ff*TTERNATX3NAL BAPTTST CHURCH (En- 
gteh language) meets at-Evangeisb-Frelcr- 
chfich tusuzgemeirde, Hohantanstrassa 
Hermarc-Sose-SP. (around tfie comer tom 
Ihe BaffvdbQ stnday word* 17D0 Ernest 
D. Water, pasta TeL 04791-12877. 

BUCHAREST 

INTERNATIONAL BAPTIST CHURCH. 
Stodft Pops RWU 22, 3D0 pm Cctoad tel 
REhanteon, TeL 01091-61. 


i Sudy all T90 « Wonhp at 
Smday. TeL 04002061 6. 

HOLLAND 

TTV6TY BAPDST as. 990, Wbratip 1090, 
nuraery, warm fellowship. Meets at 
Btoemcamplaan 54 In Waseenaar. 
TeL 01751-78024. 

MOSCOW 

BfTBTNATIONAL BAPTIST FBiOWSHtP 
Meetrn noo; Kino Center Buldhg 15 Dmz- 
Druzrtrcl«us/<aya UL 5t) Floor, Hal 8, Metre 
Stefan BarTtarhaja Paster Brad Sterner Ph. 
(09^1503293. 

MUNICH 

INTERNATIONAL BAPTTST CHURCH OF 
MLMCK Hotzsff. s Englsh Larnnpe Ser- 
vices. Bfale study 1&00. Worsrtp Service 
1730. Pastate Phom: 8908534. 

PARIS and SUBURBS 

EMMANUEL BAPTIST CHURCH 56 Rue 
des Bone -Raisins. Rueff-Mahnateon. An 
Euangeicai etetoh ta Btabh opesldng 
community located in the western 
adbrebaSJS. 9^5; Worship : 1 (MS. CMrtofa 
Ctuch and ftasety. Yor^mharias D^BC. 
Thomas, pastor. Can 47.51-29.63 or 
47A9.1529 taMcmietim 


am AI are wetooma. TeL KJ2) 291 

LONDON 

AMERICAN CHURCH in Landon at 79 Tot- 
tenham CL ft± WL Wasrtp at 9JXL SS re 
10TO am Sing worship re 1 1 am Goodga 
SL Tite; Trt: 071-580 2791. 

OSLO 

American Lutheran Church, F ftz ne reg t 15 
Worship & Sunday School 10 a.m. 
TeL m 449694. 

PARIS 

AMERICAN CHURCH IN PARIS. Wmhb 
11 DO am. 6S, Quel dOsoy, Pate 7. Bus B3 
el door, Metre Akna44acaai or kruides. 
STOCKHOLM 

MMANUEL CHURCH, Worship Christ In 
Swedish, Engfish. or Korean. 1 1DO am. 
Sunday. Birger Jarisg. at Kungslensg. 
17. 4&06 / 15 12 25 X 727 lor more 
MbrmaSon 

VIENNA 

VIENNA CONMUNTTY CHURCH, Sundm 
worship in English 1 1 90 A.M., Sunday 
stenoL nursary; international, al denomina- 
ton3wtcmg.Oares8 ^ B 16, Vferral. 

WARSAW INTERNATIONAL CmJRCH, 
Protestant Bigfah language emanates. Sun- 
days 11 DO am (SepL-tenri, 10 am2jina- 
Augk Surafew School 9S5 (Sepl-M&y) U_ 
MbdMB 21. TflL 4329-70. 

ZURICH 

NTHWHONAL PROTESTANT CHURCH 


re 7 


tia 


I & Nursery, Sundays 1130 am. 
SchaTZEngasae 2S. TeL (01) 2825525. 















Th 

me 


Page 4 


Hcralb 


INTERNATIONAL 



(tribune 


PUBLISHED WTTH THE NEW YORK TIMES AND THE WASHINGTON POST 


Forward Slowly on Bosnia 


At this late stage in Bosnia's tragic pas- 
sage, any new American initiative was bound 
to be a matter of increments. This is the case 
with President BDl Clinton's latest plan for 
some new measures of bombing and diplo- 
macy in Bosnia. All the touches be mentions 
hinge on the approval and participation of 
NATO, the United Nations or Russia. His 
essential judgment remains that American 
interests in Bosnia are not so great that the 
United States most pursue them alone. In 
this judgment he is right. But it puts cm him 
an inescapable burden to bring along the 
assorted partners and collaborators, ana not 
to hide behind their reservations in order 
to mask his own. 

The steps proposed are designed on the 

hopeful theory that nothing particularly strenu- 
ous needs to be done to bnng Bosnia's Seths 
back to the bargaining table and in a frame Of 
mind to negotiate. Gorazde and the remaining 
UN-designated “safe areas" would be offered 
the protections of air power against attacks on 
civilian targets. Some sort of “major diplomatic 
initiative" would harness up Russia, which is 
deemed now, after being repeatedly played for 
a fool by the Bosnian Serbs, to be ready at least 
to countenance NATO bombing — although 
some statements out of Moscow on Thursday 
point to continuing ambivalence. 


This is a policy fashioned on the cheap. It 
does not explicitly threaten to bomb Serbian 
targets beyond the "safe areas." Nor does it 
appear to anticipate Ibe reprisals the Serbs 
could yet make against UN peacekeepers and 
international redid 1 waiters already on the 
ground. It does not commit the United States 
to take the angle step — ending the interna- 
tional embargo on arms to Bosiia — that 
would enable Bosnia's self-defense and moot 
the question of foreign ground-combat foues. 
It keeps Washington exposed to the damaging 
charge that it asks its allies to court risks — to 
the peacekeepers they have dispatched to Bos- 
nia — that the United States refuses to share. 

But if hard questions can be asked about this 


policy, ft still represents an improvement The 
Ciinioi 


non ad ministra tion may not be driven by a 
large sense of strategy, but it perhaps can 
respond to heightened public awareness of the 
agony of a people. The cautions built into the 
Dew proposals may diminish their immediate 
impact on the calculating Serbs but may also 
make participation mare palatable to hesitant 
allies. AU this assumes that President Qinton is 
going to win the s up p o rt he needs from Russia 
and Europe to put these proposals into effect. 
They might keep in mind that Serbs shelled the 
hospital in Gorazde on Thursday, again. 

— THE WASHINGTON POST. 


Russia’s Surprising Progress 


Russia’s economic performance is Cuming 
ait to be better than Western governments 
expected at the beginning of the year. In 
response, the West has decided that it is time 
to take the modest risk ofgivmg the Russians 
some financial support That is the meaning 
of the International Monetary Fund's an- 
nouncement that it has now extended a long- 
delayed $1 5 bilb on loon. 

After the Russian elections in December, 
with the victory of the nationalists and the 
defeat of the refonneis, the outlook seemed 
very bleak. But aver (he following months 
Russian economic policy has been moving in 
the direction that the IMF's technocrats 
urged. The IMF is ran mainly by the rich 
democracies. TIm big aid packages announced 
over the past two years, first by President 
George Bush and then by President BDl Clin- 
ton, included a lot of loans from die IMF and 
other international agencies that were never 
delivered because the Russians were not hit- 
ting the economic targets that the lenders 
required. The key one is the inflation rate. 

The IMF says that any further help to 
Russia will be contingent on, above all, an 
inflatio n rate that descends to 7 percent a 
month by the end of this year. The rale was 
20 percent a month in January, 11 percent in 
February and 7.5 percent in March. It may 
bounce back up again because of a burst of 
spending in the winter, but the IMF can 


plausibly argue that the Russians are getting 
their economy under control 

It is still smiting. Output fell 17 percentin the 
first quarter of this year, and, though much of 
that reflects obsolete factories daring down, 
that is a dire dedine. But the IMF believes that 
if Rnsaa keeps the policy promises it has made 
to negotiating this loan, it wiB begin to show 
red growth next year. Experience in the smaller 
economies of rastem Europe and the Baltic 
states supports that optimism. 

The IMF loan will be worth far more to the 
Russians than the money it provides. Because 
it says that the IMF thinks Russia is on the 
right track, that makes H easier fa Russia to 
borrow from others. Even more important, it 
will encourage the private investment that can 
be crucial to Russia’s prosperity. 

Rnsaa has most of what h needs to become 
a rich country — not only huge reserves of od 
and gas but, much more to the point, an 
educated people with industrial experience. 
The great threats to economic growth are an 
unsteady political system and the increasing 
prevalence of organized crime, Rnsaa has 
been going through a revolution, and nothing 
in its future is certain. But its government is 
making more progress than seemed possible 
three months ago. The IMF’s loan acknowl- 
edges that and, in a limited but very useful 
way, encourages more of the same. 

— THE WASHINGTON POST. 


Respect the Haitians’ Rights 


The angiy blast Thursday by President 
Jean-Bertraud Aristide of Haiti at the Clinton 
administration's diplomacy and its treatment 
of would-be refugees was not very diplomatic. 
But an the refugee issue at least. Father Aristi- 
de's complaints are on the mark. Using U.S. 
Coast Guard cutters to turn back Haitians 
trying to flee their violent and tormented 
country is cruel and discriminatory. 

UJS. law requires a hearing for anyone claim- 
ing asylum. But there is a catch. Courts have 
rated that applicants must reach U.S. jurisdic- 
tion before they can avail themselves of this 
right. Obstacles deliberately placed in their 
path make that harder fa Haitians than for 
otirera. Now, with progress toward a diplomatic 
solution in Haiti stalled and terror there rising. 
Washington has a moral obligation to end this 
discrimination against desperate people. 

In 1981 the Reagan administration signed a 
treaty with Haiti's Duvalier dictatorship that 
granted U.S. ships the right to intercept Hai- 
tian vessels on the high seas. President George 
Bush used this treaty to divert the thousands 
who fled Haiti after (he 1991 military coup, 
first to the U.S. naval base at Guantanamo 
Bay in Cuba and later directly back to Haiti. 

President Bill Clinton condemned this poli- 
cy of faced return daring his election cam- 
paign, but that, fearing a nativist backlash if 
refugees landed in Florida, continued it when 
be took office. Those with asylum claims were 
told to present them to U.S. diplomatic offices 


on Haitian soiL Given the regime’s bloody 
reprisals against critics, this may not seem a 
realistic option to those seeking asylum. 

But there was supposed to be a quid pro 
quo. Early in 1993, the Clinton administration 
assured Father Aristide’s supporters that it 
would move quickly on the diplomatic front 
to restore the ousted leader to power. Father 
Aristide, in turn, held off from ppblidy criti- 
cizing the Clinton refugee policy. But 15 
months lata, Washington's diplomatic cam- 
paign has gotten nowhere and Father Aristide 
is again raising his voice an the refugee issue. 
Earlier this month he gave six mouths’ notice 
that Haiti would abrogate the 1981 treaty. 

Under congressional pressure, the adminis- 
tration has begun to toughen its diplomacy. 
But it still seems determined to deny Haitians 
the right to have their claims heard. The 
Justice Department recently reinterpreted 
U.S. refugee law to permit the summary re- 
turn of ships and their occupants without 
bearings even if they are boarded within U.S. 
territorial waters. 

Instead of twisting law and decency, Wash- 
ington ought to live op to American princi- 
ples. Restoring Father Aristide to power with- 
out recourse to military force may not be 
possible at this time. Giving a fair hearing and 
humane sanctuary to those trying to flee a 
terrorist nuHtaiy regime a few hundred miles 
off the Florida coast surely is. 

— THE NEW YORK TIMES. 


Other Comment 


Ominous Parallels for the UN 


Is the United Nations going down the drain 
as a peacekeeping organization? Although it 
has bad successes in Namibia and Cambodia, 

ha and left its job unfinished in Iraq. As it 
winks into (he Bosnian quagmire, the debate 
over its future will intensify. 

Parallels with the League of Nations begin 
to look ominously apt. When that organiza- 
tion was set up after the First Wold War it, 
too, faced a world of falling empires, ethnic 
disputes and Balkan conflicts. It, too, lost 
American support — and collapsed fa that 


reason, opening the door to the Second Wold 
War. Without minimizing Europe’s failures, 
UN peacekeeping is also doomed without the 
full engagement of the United States. 

Too many members [of the U.S. Congress] 
still hanker for isolation and make a false 
distinction between domestic and foreign af- 
fairs, refusing to see that the prosperity and 
security of the United States depend on how 
much of the rest of the globe is friendly, 
democratic and prosperous. As a result, they 
shrink from the inevitable costs and risks of 
peacekeeping and contribute to tbe confusion 
in the executive branch. 

— The Independent (London). 



OPINION 



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Bosnia: The UN Has 


Its Masters 9 Vices 


By Stephen S. Rosenfeld 


W ASHINGTON —Tbe carving 
up of Bosnia — in particular, 
the strangling of Gorazde — is now 
widely cited as an ultimate humilia- 
tion for the U cued Nations. This, 
while true, is too narrow a judgment 
Again the United Nations has 
proved its scat value: Not alas, in 
problem-saving, bat in providing a 
scapegoat fa the hesitations of its 


vital oil supplies, are dealt with by 
affected nations. Second- a thira- 


Reatisdc Americans and 
Europeans knew the UN 
would only be assigned 
problems where failure 
was alive option. 


musters, starting with tbe United 
Stales. The ignominy of this role 
does not di mini sh its utility to those 
who so exploit it 
The permanent members of the 
Security Council assigned the United 
Nations the ambitious task of some- 


how malting things come out all tight 
in broken Sosma. Then they provid- 


ed resources, i 
wholly insufficient to allow the Unit- 
ed Nations to do tbe job. 

When, fulfilling many grim 
prophecies, the fallib le men a nd 
women of the United Nations 
faded, its critics fefl to blaming the 
world body itself. They concluded 


that if a tough job is actually going 
lone, the United States or 


to get done, 
this or that other interested country 
will have to do it an its own. 

Buritfr&tem tiredayforpseado- 
tougfaness. If an interested country 
were serious in the first instance, it 
would not farm out the msssion to an 
organization vulnerable to the Bnn- 
ta tinng and misgivings that typically 
shackle tbe United Nations. First- 
order problems, such as a threat to 


Oder problems, such as unrest in a 
place that can be set apart, are hand- 
ed off to the United Natrons. This is 
the hard logic of the international 
division of political labor. 

I learned something about this 
logic horn recent talks with well- 
placed Europeans. As always, they 
pine for American “leadership. 
But by leadership they do not mean 
zeroing in on Bosnia, a matter they 
believe requires only lesser, tactical 
derisio ns to contain the damage 
and the faDout They mean demon- 
strating a capacity not to be overly 
distracted by Bosnia, not to be kept 
from presumably more important 
things Things hke — this is die 
source of Europe's enduring neural- 
gia — staying engaged in Europe 
and tending to Rusaa. 

Jt is wrong to say that people hoe 
in America and governments there 
in Europe are disenchanted and dis- 
illusioned with die United Nations. 
Not very many of them were en- 
chanted in the first place. At least 
the mop* p»ati«tif. am pn g t h em knew 
instinctively that tbe United Na- 
tions was only going to be assigned 
problems where failure was a live 
option. Not that anyone wanted 
fafltnc But no one wanted to pay 
much fa success. This, of course, is 
what has afforded an edge to those 
in any given place who are most 
responsible fa the disorder the 
United Nations is asked to treat 

It also helps explain die downsiz- 
ing of the very definition of failure. 
In Haiti, fa instance, the mere ap- 
pearance of some gesticulating 
thugs on the dock was used to un- 
dermine the whole American mis- 
sion of preparing a transition bade 
to demcoacy. In Somalia, the death 
of 18 American soldios was al- 
lowed to pull the plug on another 
American mission* 



By RACES ta Venfen Gm* (QM C*W Syfldka*. 


In Bosnia, President Bill Qinton 
has chosen up to this point not to 
match the altos’ readiness to supply 
ground troops to deliver relief, and 
not tO sHwid up tO a smaller and 
weaker hot more assertive Bosnian 
Serbian army. All these matters in- 
volved American decisions, yet by 
the dubious bookkeeping of politi- 
cians under pressure they are deb- 
ited to the United Nations' account. 

In Rn*rria | UN frwreinrrata an d 
raiTrt ary rrwnin a nriw y have taken 

several, often contradictory parts 
Hwt the United States and o ther s 
wrote for them in UN resolutions — 
wrote fa them, mind, without giving 
them the tools to do the job. when, 
predictably, tbcUmted Nations does 
not periazn adequately as a nrifitaiy 
enforcer, an honest broker a an aid 
provider, the hit squad issues pas- 
sionate analyses of the wodd body’s 
mortal shortcomings. 

Let it be notedthat the man at the 
eye of the hurricane, UN Secretary- 


General Butros Butros Ghali, antic- 
ipated these difficulties a couple of 
ago and offered a solution. 


: up the United Nations in ad- 
vance for the sew turmoil of (he 


t-CoW War era, he said. It was a 
bureaucrat’s solution. It was 
derided a ignored by the best peo- 
ple. Their alternative solution was 
to cooperate up to a point with the 
Unitea Nations but otherwise to 
reserve to each member-nation flex- 
ible powers to deal with the crisis 
of its choice. 

We have had almost two years of 
testing that alternative solution. 
Looking at Somalia. Haiti and Bos- 
nia, are you pleased with the results? 
These three leading exhibits are di- 
saster areas. True, we Americans 
have preserved much of our autono- 
my in poticy-maktog. A disinterested 
Annnr might say ™1 in that sense 
the operation has been a success. But 
the patients are nearly dead. 

The Washington Post. 


Before Dropping Bombs , Where’s the Peace Plan? 


N EW YORK — After more than a year of 
cogitation, President Bill Qinton has re- 
vealed his strategy fa peace in Bosnia: bomb. 

1 can’t get it through my head that he really 
wants to go down in history, forever down, as 
Bomber BuL Will that be what it all amounted to, 
afl the idealistic Qmlooianism? Just bombs 
away, without ever putting a peace plan on 
tbe table? That's it? 

The desktop commandos scream joy — go Bill 
go, bomb, man, bomb. Sorely the man is smart 
enough, though, to know that bombs will not 
pmifi tbe winning Bosnian Serbs. Bombing Serbs 
win not make tbe losing Bosnian Muslims any 
readier to make a deal 
But he must have enough sense to look fa an 
escape from the war trap into which he has led '* 
America. If so. he can phone the president of 
Rnsaa and accept his idea of an emergency 
summit meeting. If they have the wit and guts, 
the United Stales and its allies can. with Russian 
help, at last come up with a plan to end the war 
they did so much to help start. 

The West and the Bosnian tides ruined any 
chance of restoring a tingle Bosnia, so the i 
lions are two. Who gets how much? What 
pens to tbe Muslims driven from their towns 
ruthless Serbian policy? 

I wonder how many Americans realize that in 
the years of staggering and mumbling ever deep- 
er into the Balkan mess, their government never 
came up with a plan to end the war, not a one. AD 
it did was rain on everybody rise’s plan, on til Mr. 


By A. M. Rosenthal 


flintnn presented the Hazrfmg co n cept of peace 
arriving by bomb bay. 

That wiD get the Bosnian Serbs to the negotiat- 
ing table, he says. Whoever said that was (he 
problem? Bosnian Serbs, Croats and Muslims 
nave been there so often they have engraved 
nameplates oo the chairs. The problem is getting 
them to agree to a peaoeplan — which wm never 
happen as Jong as NATO and Russia do not give 
them a plan to agree to. 

Tbe plan must embody American-NATO 
pressure on the Muslims to grasp that they have 
lost a war sparked by their own declaration of 
independence over the objections of a 30 percent 
Serbian min o ri t y . 

Then came the lit match — the swift Western 
and UN recognition of Bosnia, a nation headed 
straight fa civil war, and a Bosnian government 
that did not have a prayer of defending itself 
against a big slice of Bosnia's own people. 

B osnian Muslims and the West knew tbe Chris- 
tian Bosnian Serbs, armed and backed by Serbia, 
wouldfight to prevent their ancestral villages from 
becoming part of a new state, controlled by Serbs 
and Croats knig converted to Islam. 

This is a civil war — vicious and with foreign 
intervention. Is there any other kind? 

Tbe West intervened by speeding the breakup 
of Yugoslavia and rapid recognition of Croatia 
and Bosnia. Serbia intervened with supplies and 


some troops, to help Bosnian Serbs — who 
promptly lost international sympathy or a hearing 
fa tbdr political case by driving M uslims from 
their (tillages, sbrihng civilian targets and breaking 
so many traces (bat they even infuriated Russia. 

Losers lose. The M uslims will have to accept a 
decrease in the territory they want to control But 
winners can no longer take aB. The Europeans, 
particularly Russia, must pressure Serbs to allow 
the return of some Muslims “cleansed” out of their 
villages. M uslims who wiD not again gamble their 
fives on Serbian-Mushm brotherhood should get 
compensation — and open doors in tbe West- 

In tbe end, the United States, Rostia and West- 
ern Europe win have to push through a peace plan, 
no matter how many NATO bombs drop on 
Bosnia. If not. tire-war wffl last- years, possibly 
decades. We know that happens: a dozen right 

now as we breathe. 

Meantime, President Clinton is doing what he 
said he would never do — send Americans into 
action without telling them when and how they 
would get out If he meant only tbe army, that 
wiD be a mean surprise to members of the navy, 
the marines, the coast guard and the air force. 

Bid I don’t hear anybody in government saying 
that the presidential pledge against open-ended 
commitment has been broken. Maybe the lives of 
air force crews are not worth mentioning. That 
mnst be it, because in Congress and the press all 
you hear is go BiH go —bomb, man, bomb. Is that 
really. Bill Qinton, the whole tinng? 

The New York Tones. 


Invite Germans to Normandy, for Europe’s Sake 


P ARIS — Germany won’t be the 
only parry abs 
mversaxyoftheNc 


absent on the 50th an- 


By Dominique Moisi and Karl Kaiser 


Europe won’t be there,' 

Sane have argued dial D-Day is 
not the appropriate moment to bring 
Germany into the commemoration, 
and that a more sensible date might 
be May 8, 1995, the anniversary of 


Y-E Day. We disagree, 
he D-Day " 

most powerful symbol of tbe triumph 


The D-Day landing remains tbe 


of democracy against Hitler. To ex- 
dnde Germany, which has become a 
model of democracy and a motor of 
European unity, from such a celebra- 
tion — particularly on the eve of 
important European elections — is 
a major error. 

Such an omission reveals the ex- 
tent to winch the European ideal is 
faffing in the minds or political dries. 
It is a sad reflection on the moral 
state of a European Union whose 
recent enlargement has been barely 
noticed, not to mention celebrated, in 
an atmosphere of renationalization 
of European politics. 

Western Europe was fortunate to 
have been rebuilt after World War II 
by statesmen who knew that if they 
forgot history they could be con- 
demned to repeat it They aimed their 
policies at two goals, winch produced 
the historical miradeof an essentially 


requisite to peace The second was to 
avoid repeating the mistakes that iso- 
lated a n d humiliated Germany at 
Versailles, by integrating tbe former 
enemy into an ever doser community 
of European societies and states shar- 
ing responsibilities and burdens com- 
mensurate with their resources. 

The D-Day anniversary could 
have been an occasion to celebrate 
the victory of democracy in Europe 
— all countries, after all, were liber- 
ated from Nazism, including Ger- 
many. It is natural that war veterans 
should be celebrated specifically, fa 
their sacrifices were great and admi- 
rable. But there should be a wider 
message, positive and future-orient- 
ed, a message that cannot be con- 
veyed if Germany is excluded. 

Germany’s absmee from the June 
commemoration contradicts the suc- 
cessful policies of E uro pe an postwar 
integration. Most of the Gomans re- 
sponsible fa tbe tragedy are dead. 
Germans of all ages want to celebrate 
tbe victory of their democracy, which 
(hey owe to liberation by, and years 
of cooperation with, the Allies who 
freed them. 

The “never-again” message should 
be backed with concrete action. As 



celebrate tbe victory of democracy 
i the forces of evil, can we afford 


to exclude those with whom we have 


been building a bulwark against a 
return of the past? With Europe suf- 
fering through its most severe identi- 
ty crisis since the war, can we neglect 
the challenge of the future? Stum in- 
serts tivity might endanger tbe deli- 
cate emotional balance on which 
French-German relations reside. 
And try nurturing nationalist feel- 
ings, which are based partly on exclu- 
sion, it risks encouraging tbe rise of 
the extreme right in Germany. 

To invite only those who landed in 
1944 to the D-Day commemoration 
sends a signal that is in f undamen tal 
contradiction with what will take 
place a few days later, when tbe peo- 
ples of tbe European Union elect the 
European Parliament. Were tbe ideas 
and forces behind tbe arduous cre- 
ation of the Union not genuine? 

Tbe French-German encounter 
slated fa June 8, in Heidelberg, wiD 
not make up fa the absence of Ger- 
many two <rays earlier on the landing 
beadies. French-German reconcilia- 
tion is fine. But it has served mainly 
as a means to a higher goal: budding 
a Europe united by democracy. 

Television cameras from all over 
the world wiB be present on (be Nor- 
mandy beadies. The celebration in 
Heidelberg can only appear as a hast- 
ily organized consolation prize. 

There most be a positive symbol on 


to symbolize that the descendants of 
those who fought each other on the 
beadies are now partners. 

These two symbolic presences 
would dramatically alter me impact 
of (he celebration, turning it into a 
stepping stone for the future. And 
they would signal to a Europe torn 
by conflict in its east that we can 
learn from history. 


Mr. Main is deputy director of she 
Institut Frantyns ae Relations Interna- 
dawks, in Paris. Mr. Kaiser is director 
of the research institute of die Deutsche 
GeseUschaft fQr AuswSrtige Poliak, in 
Bonn. They contributed this comment to 
the Imenmwnol Herald Tribune. 


An Election 
To Rebuke 


The Cynics 


By Anthony Lewis 


W 


r ASHIN GTON — “It’s amaz- 
tv mg,” President KD Qinton 
said. “Think of it —contras what we 
see in Gorazde with what we see 
about to happen to / 
“I believe that if the (Sonth Afri- 
can] election comes off wdL it will 
send a message around tbe wold that 
there is another way to deal with 
these problems. If it can be done in 

« 1 c-l min ifrtn inctifv thu 


Qinton was extraordinarily 
well informed about South Africa, 
and he seemed happy to be talking 
about an upbeat subject. He re- 
marked that “for the fast 10 days, 
except fa my forays ou health care, 
I’ve done almost nothing bat work on 
Bosnia and Haiti and one a two 
other foreign policy issues,’' all 
no doubt painful. 

He said Americans had a particu- 
lar interest in South Africa because of 
their own history of racial division. 

“If yon ask me one thing 1 have 
learned in my own life,'’ he said, 
“growing up as a young boy in the 
segregated South, it is that tins is 
something that you never solve: you 
just have to keep improving, you have 
to keep waking with it My own 
interest in politics in America was 
inflamed overwhelmingly by my op- 
position to raaal segregation ... 

“Unfortunately, human nature be- 
ing what it is, identifiable differences 
wifi always be used by narrow-mind- 
ed people a frustrated people or ig- 
norant people, or sometimes bad peo- 
ple, as a lever, a wedge, a means of 
acquiring power a influence a dom- 
inance a just inflicting harm.” , 

There is stfll “too much” discrimi- 
nation in the United States, Mr. Qin- 
ton said. He cited the fact that 36 
percent of American children under 
the age of 2 had not had all the 
preygR jwy immunizations — and one 
reason was that they “are more likely 
to be children of color and more 


S ' to be poor than adults who 
to make the derisions.” 


tbe beadies of Normandy. It is not 
too late to change policy. We would 
offer two recommendations. 

Fust, why not bring together the 

tE^tauihes SO years ago? Active 
gathering of young Europeans repre- 
senting the continent’s roture — in- 
cluding young Germans, of course — 
would carry deep symbolism. 

Second, France, as host, should 
have the courage to propose some 


A multiracial society can be “an 
enormous asset in a global econo- 
my ,” he said, but oily if countries 
film America and South Africa lake 
advantage of it by providing ade- 
quate education ana health care and 
teaching people “to live i 

In a striking comment, Mr. Qinton 
said he thought two kinds of societies 
would do wdl in today’s world: one 
homogeneous and disciplined, the 
other multiethnic and open. Yet both 
now bad problems. In Japan, reform- 
ers woe trying to make the society 
more open, more accepting of diver- 
sity. In America people want more 
discipline, less crime. 

Somct hing about the subject had 
the president speaking philosophical- 
ly and with unusual eloquence, or so 1 , 
thought. He plainly cared abort' 
South Africa and the hope it repre- 
sented, and he said be had plans to 
help the new government. 

Together, hi said. Nelson Mandela 
and President Frederik de Kletfc “are a 
stern rebuke to tbe cynics of the 
worid." Mr. de KJerk bad overcome so 
much of his Af rikaner people's histo- 
ry, and Mr. Mandela was “able to free 
himself of the bitterness that worid 
surely have destroyed most people 
who had to live 27 years behind 1 
The New York Times. 




Mtsc UIUUNW- ■“ — . - , 

South Africa, how can yooiugft’ Ibe 
old-fashioned killing aqd fightii 


and dying over a piece of land .... 

in olberplacesr . . 

Tbe president was speaking with 
four journalists Wednesday evening 
about Sooth Africa. He had agreed ip 
an interview by Richard Steyn, editor 
of TIk Star of Johannesburg, and Ag- 
— Klaaste, editor of (he Sowetan. 


and 1 were asked to join Ilian. 

In Bosnia and other places with 
“ancient racial, ethnic and refigjou 
divisions,” Mr. Qinton said, people 
“don’t understand yet, fa whatever 
reason, that in the end theyll be bel- 
ter off if they work together, and that 
controlling territory has nowhere 
near the significance . . .. that it had 

10 Si y nj£ffi has worked in Sooth 
Africa partly because people with 
enormous influence derided to be 
s ta tesmen instead of wreckers [and 
derided} that somehow they were go- 
ing up or down together. 

^And then they translated those 
und erstandings into concrete com- 
mitments — not just an election. An 
election is only part of it, although 
a big part. 

‘The derision to go for a govern- 
ment of national unity fa five years 
is absolutely critical to this — and 
making the derision before you know 
the outcome of the election. The deci- 
sion to have a b£0 erf rights, tire deri- 
sion to have a constitutional court — 
I thmk afl these thing s have made a 
: ffifference.” 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894s Preachers Mobbed 


Set a Calm and Patient Course on North Korea 


C OULD NORTH KOREA 

launch a surprise attack ash did 
in June 1950, and overwhelm the joint 
South Korean-American forces, as 
sane analysts contend? 

Tbe assertion irises many ques- 
tions. How, to begin with, could the 
North Koreans surprise the combined 
UiL-South Korean faces? They have 
an awesome army of intelligence sys- 
tems capable of detecting evoy phase 
of attack preparations. 

Since 1989, North Korea has cut 
nriHtmy spending 50 percent, while 
South Korea has increased hs spend- 


as wefl as superia air and naval faces. 

Given the unquestioned mflfery 
advantage of drfendmg vs. att ack i ng, 
the existing military balance and the 
certainty tSai the full weight of U.S. 
military power would oppose any ag- 
gression firm the North, any attack by 
Pyon g y ang would be suicidal 
On the mid ear question, there is 
concern that North Korea may ac- 
quire some spent fuel from an experi- 
mental nuclear reactor this year. This 
might then be reproces se d to produce 
weapons-grade plutonium. But that 
Id lave tbe North Koreans far 


tog 50 percent and is now cutspending short of possessing a military capabil- 
"" 1. The South enjoys ity with nudear weapons. Fa tins 


tbeNa1hby6to 
marked advantages to the quality of its 
military equipment, t echnology, mo- 
bility, intelligence and logistic support 


they will need to fabricate reliable 
“taggers’* capable of p roduc ing a sig- 
nificant explosion and to configure a 


nodear device to fit on a delivery 
system that they do not now possess. 
North Korea, however hostile, is a 
weak, impoverished airi deteriorating 
nation (hat does not present a major 
threat to UdS. security or political in- 
terests in Northeast Asia. The wise 
course to deal with it is to be firm and 
patient, confident in America's 
strength and tbe strength of its friends 
and allies to tbe regkKL If out of fear of 
imaginar y dangers the United States 
acts aggresavdy by sending mac 
weapons and troops, threatening po- 
litical and economic sanctions and ret- 
ting deadlines, it may generate a inili- 
tary crisis where none exists. 

— Retired Admind Eugene Carroll Jr^ 
{Erector of the (knur for Defense Infor- 
mation, in The Washington Post 


LONDON — Notwithstanding the 
very inclement weather, a large and 
angry mob famed in the streets of 
Cork last evening [April 22] fa the 
purpose of attacking tin members of 
the Open Air Evangelistic Mission. 
Owing to the demeanor and orga- 
nized character of a section of the 
crowd the police drove the preachers 
back to their rooms as soon as they 
made tbdr appearance, the officer in 


In combats with mere peasants in 
the Szopron and Szombathriy re- 
gions, Bela Kun’s soldiers were ut- 
terly defeated. It is believed that an 
affiance between the peasantry and 
the middle-class leaders wiD soon 
take place, and that Lovasy, a fa- 
lser Cabinet minister, will head the 
coalition. Budapest is said to be in 
a state of absolute anarchy. 


1944: Finns Stand Finn 


charge stating in explanation that he MOSCOW — [From our New York 

considered their lives in immin ent edition:] Finland has rejected Rus- 
peril. Owing to tire action of the police si®’ 5 second peace offer, the Soviet 


there was uo collision. Subsequently a 
shopkeeper named Lovefl was chnwt 
into a public bouse and beaten. 


1919; Hungarian Unrest 


announced last night 
[April 22] in a statement calling Fin* 4 
‘■"id’s leaders w illing vassals of Ger- 
’ re- 
tire 


BERNE— Messages received in dip- 
lomatic circles from Budapest show 
that the Bela Kim government is in 
extremely precarious condition. The 
Communist troops are manifesting a 
distinct inclination to shirk fighting. 



jecuon was communicated to Rusaa 
through the Swedish government on 
April 19 and the Russians, to a re- 


turn note yesterday, inf ormwt Fin- 
thc armistice negotiations 


land that 

were considered broken! 





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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24, 1994. 

nITimpasse 



ULTI MATUM AND DFFTANUF / 

Serbs Seek Face-Saving Way Out as Yugoslav Army Girds for War 


Page 5 


Saturday. A 
the Serbs 


fi y Roger Cohen 

7ArDCn York Tima Service 

^^«,™ d NATn C °" fron | ed b * 

Gorazde, Bosnian ^ strikes around 

lastSS, ^SJi^SnS a ^ nday ■ ! W hl a 

S£?i meetun; m Belgrade with the ton Unit- 

withdrawal Irn'cS®"” 1 a ^ 

A J^l lhe - J ta ? s a<, j°«nicd Friday night, Mr 

Aggressors Boost 
Artillery Attacks 
On Bosnian City 


ce France- Prcssc reported that 
also agreed to allow UN and aid 


^gotcy personnel in access to the city, in accor- 
dance with the earlier. NATO ultimatum.] 

Several previous negotiations over 10 days 
between these parties have broken down in 
acrimonious disagreement, and UN officials 
have become convinced that the word of the 
Bosnian Serbs is worth hide. 

Gorazde lies less than 20 kilometers from the 
Serbian border. In the light of the growing 
threats to the Bosnian Serbs from NATO, the 
scauiionary mea- 
, l Serbia becomes 


1 and “the possibility d 
involved is a reality," the Yugoslav foreign 
ministe r said. 


Speaking in an interview in Belgrade in 
which he anticipated the ultimatum, Vladislav 
Jovanovic, the foreign minister of the rump 
Yugoslav state of Serbia and Montenegro, de- 
clared that Yugoslavia remained committed to 
the quest for a peaceful settlement. 

But, Mr. Jovanovic, who speaks almost daily 
to the Serbian president, added: “Mr. Milosevic 
is greatly concerned, disappointed and dis- 
mayed at the latest developments. The new 
threats from President Clinton encourage the 
Muslims neatly in their policy of trying to 
bring NATO into the war. 

Asked what would happen if NATO bombed 
bridges on the Drina River, which constitutes 
the border between Serbia and Bosnia, the 


foreign minister said “1 would not advise this to 
be done.” 

He continued: “If, as it seems, the interests 
bent on enlarging the war prevail, the possibili- 
ty that Serbia becomes involved is a reality. 
When, as now, the situation on the ground is 
dangerous, the Yugoslav Army, of course, takes 
precautionary measures. But this is not the 
course we want." 

Western diplomats are convinced that Mr. 
Milosevic, the man who unleashed Serbian na- 
tionalism across the Balkans, does want to avert 
a widening of the war and is eager to rein in his 
rampaging brothers across the Drina. But it is 
not dear that he s rifl has the means. 

Mr. Jovanovic said that when the Serbian 
president promised the Russian foreign minis- 


ter, Andrei V. Kozyrev, Iasi Sunday that a 
cease-fire would take bold immediately in Gor- 
azde, he was entirely sincere. But his attempts 
floundered. 

Bosnian Serbian officials contend that nego- 
tiations over a withdrawal from Gorazde have 
failed because their troops are being provoked 
by Muslim forces. They also say fighting is 
being prolonged by the refusal of the Musfim- 
led T foynimi government to accept a Bosnia- 
wide cease-fire in the hope of drawing NATO 
into the war on the Muslim side. 

“It could go either way,” said a Western 
official dose to the Belgrade negotiations. “By 
any rational, objective appraisal, the Serbs will 
have to find a way to comply. But there is a big 
irrational factor here linked to an enormous 


Serbian pride, and I doubt the Serbs win do 
anything in the absence of a face-saving solu- 
tion." 

When NATO issued its ul tima t um in Febru- 
ary to the Serbs to withdraw their heavy artil- 
lery 20 kilometers from Sarajevo, the interven- 
tion of the Russian government and the 
dispatch of some Russian UN soldiers to the 
Sarajevo area allowed the Serbs to contend that 
they were cooperating with a Russian initiative 
rather than bending to NATO's will. 

But the Bosnian Serbs have since angered the 
Russian government by failing to honor prom- 
ises to the Russian special envoy, Vi tali I. 
Churkin. It therefore seems unlikely that the 
Russian can offer the Serbs a graceful exit once 
again. 


By Chuck Sudetic 

New York Times Service 

SARAJEVO, Bosnia-Herzegovi- 
“a Bosnian Serbs blanketed 
Gorazde with artillery fire and 
launched fresh infantry assaults 
into the eastern Bosnian city Fri- 
day. ignoring a new UN Security 
Council resolution and reports of a 
NATO ultimatum demanding their 
withdrawal. UN officials and local 
ham radio operators said. 

Bosnian government officials 
were overjoyed Friday night at the 
news of the NATO ul tima tum that 
the Serbs cease their attacks on 
Gorazde immediately and with- 
draw or face air strikes. 

**We express our gratitude to Mr. 
Clinton for taking decisive action,” 
said Prime Minister Haris Sttojjdzic 
of Bosnia, clearly convinced that 
the ultimatum, which had Presi- 
dent Bill Clinton’s backing, would 
save Gorazde from falling mto Ser- 
bian hands. “We knew America 
would take a moral stand."* 

“This is not just another one of 
the calls to the Serbs to withdraw 
from Gorazde,” he said in a brief 
interview, referring sarcastically to 
a series of ineffective pleas by the 
United Nations and the European 
Union for the Serbs to puD back. 

Three weeks ago, the Bosnian 
Serbs launched their offensive on 
Gorazde, which the Security Coun- 
cil declared a “safe area” last year 
but took no firm steps to protect, in 
a clear bid to take over the entire 
cast bank of the Drina River, which 
slices through the area. 


6 Are Jailed in Madrid 
In Fatal ’83 Disco Fire 

Reuters 

MADRID — The four owners of 
a Madrid disco, Alcala 20, where 8 1 
people burned or suffocated to 
death in 1983, were found guilty of 
negligence Friday and sentenced to 
jail terms of two years each. 

In addition, the Interior Ministry 
official who inspected the disco 
was also given a two-year sentence, 
and the electrician who approved 
the establishment's wiring was 
jailed for six months for falsifying 
documents. The city’s safety chief 
was acquitted, but the court said- 
the state should pay a total of 2 
billion pesetas ($14 million) com- 
pensation to the victims' families. 


The Serbs seek control of the 
main road r unning through Gor- 
azde, which links Serbia's capital, 
Belgrade, with the Adriatic Coast, 
and have campaigned since April 
1991 to uproot the entire majority 
population of Muslims from the 
Drina Valley. 

In Belgrade on Friday, the high* 
est-ranking UN official in the for- 
mer Yugoslavia, Yamshi Akashi, 
discussed a cease-fire in Gorazde 
with President Slobodan Milosevic 
of Serbia as well as the political and 
military leaders of the Bosnian 
Serbs, Radovan Karadzic and 
Ratko Mladic. 

Friday’s Serbian attacks came in 
the wake of the bloodiest 24 hours 
in the three-week Serbian offensive 
against Gorazde, with 99 people 
killed and 273 wounded, according 
to a report from a UN relief agency 
official in Gorazde received here 
Friday afternoon. The dead include 
seven children and 54 women and 
elderly people. 

The UN aid agency report con- 
firmed that Serbian shell and snip- 
er fire hailed at least four persons 
Friday morning in Gorazde, but 
ham radio reports from the town 
said that the death toll was certain- 
much higher. UN officials said 
it shelling resumed Friday night 
after a lull. 

Before Friday’s attacks, the 
known casualty toll in the Serbian 
offensive was 535 people dead and 
1,740 wounded, UN officials said, 
stressing that the count is incom- 
plete because the fighting around 
Gorazde has made collecting all the 
dead impossible^ The Serbs have 
never made public a comprehen- 
sive casualty tally. 

The UN rdief worker's report 
from Gorazde said the Serbian ar- 
tillery ami striper fire was so severe 
that the aid workers advised 
against any attempt by the United 
States and other countries to para- 
chute food supplies into the aty. 

“Such an air drop would only 
draw ci vilians out mto the open 
where they will be annihilated by 
every type of fire imaginable," the 
report said. “Don’t read this as an 
exaggeration. Food is absolutely 
the least of the worries of the lo- 
cals.” 

On Friday morning, two Serbian 
tank shells ripped into a riverside 
building used by UN military ob- 
servers and a UN relief agency in 
Gorazde, the report said, adding 



VOTE: After-Election Fears Rising 


Continued from Page 1 

included Indians and people of 
mixed race but excluded the coun- 
try’s black majority of 26 mflliou. 

He is now a parliamentary candi- 
date of the Democratic Party, tra- 
ditionally the liberal opposition to 
the National Party. 

“We should be very dear about 
this," Mr. Rajab said. “People are 
supporting the National Party be- 
cause they fear black domination.” 
He estimates that in Natal the 


National Party will win 55 percent 
to 60 percent of the Indian vote, 
while the Democratic Party and the 
African National Congress will ob- 
tain about 15 percent each. 


perhaps five years ago, the Nation- 
al Party would have been fortunate 
more than 15 percent of the 
vote. 

Other independent polls have 
shown a similar surge of support 
for the National Party. 


EXPLOIT: Trek to the North Pole 


Aqa NicdmqlumJAaaar FwwftwM 

Sarajevo residents getting free bread Friday as humanitarian flights resumed. The city had been without food deliveries for over a week. 


that three persons were killed and 
another three wounded in a shell- 
ing attack near the building. 

“The United Nations High Com- 
missioner for Refugees office took 
a direct Ml by a .76 millimeter shell 
into the windows, destroying what- 
ever was not yet destroyed by anti- 
aircraft bursts earikr,” the refugee 
alley’s report said. 

“Hospital has taken many im- 
pacts this morning,” the report 
said. “Hie area is covered with 
smoke and communication is lost. 
The same is reported about the ref- 
ugee centers near here.” 

In the four-hour period begin- 
ning at 8 AML, the UN military 
observers in Gorazde reported 106 
Serbian artillery and mortar shells 
landing on Gorazde, with the raort- 
[ aslim Bosnian Army forces in 
town firing bade 20 mortar 
rounds, the report says. 

“The Serbs nave made some in- 
cursions into the town, but the 
town is still in Bosnian Army 
hands," said Major Rob Anorak, a 
spokesman for the UN military 
force here. 

A Bosnian Army liaison officer 
reported lo UN mflitary observers 
in Gorazde that the Serbs were at- 
tacking the villages of flovaca, 
Osanicaand Praca, a UN aid work- 
er's report says. “Keep in mind the 


U 


fate of the population there as soon 
as this remaining area is overran," 
be said 

The Serbs have carried out nu- 
merous ethnic-cleansing sweeps 
through niral areas of eastern Bos- 
nia, out of sight of international 
observers and journalists. Aid 
workers in Gorazde have warned 
f or days that the Serbs might at- 
tempt next to move against the 
thousands of people who have re- 
portedly fled westward from Gor- 
azde to the mountainous areas of 
pockets still under Bosnian Army 
control 

Alter using a group of women 
and children to prevent the UN 
military convoy from entering Gor- 
azde, on Friday Serbian leaders de- 
layed the convoy from returning to 
Sarajevo. 

A UN spokesman said the com- 
mander of the United Nations mili- 
tary force in the former Yugoslavia, 
General Bertrand de Lapresle, or- 
dered the 141 troops and medical 
personnel in the convoy to turn 
back Friday to Sarajevo from the 
town of Rcgatica. The Serbian po- 
lka prevented che convoy from 
moving the spokesman said, but 
UN officials here said Friday night 
that the Serbs had allowed the con- 
voy to depart toward the Bosnian 
capital 


ULTIMATUM: NATO Warm 


Continued from Page i 
American based in Naples, will still 
have to agree on specific targets 
with the senior commander of UN 
forces in Bosnia, Lieutenant Gen- 
eral Michael Rose of Britain, be- 
fore he can launch any air attacks, 
NATO officials said. 

Mr. Butros Gbali himself would 
have the right to approve the first 
strikes arpund Gorazde if the Serbs 
did not comply with NATO’s con- 
ditions, Mr. wbmer said. “But af- 
ter talking with him many times in 
recent days, I have no doubt that 
we will get it if the conditions we 
have stated are not met," be added. 

Mr. Butros Ghali told him that 
he would convey the terms of NA- 
TO’s decision immediately to the 
Serbian authorities. Mr. Warner 
said, and the United States would 
inform Russia, which has repeated- 
ly disapproved of air strikes and 
said it might puli its peacekeeping 
farces out of Bosnia if the violence 
escalates. 

UN forces did call in limited air 
strikes last week on Serbian tanks 
and other weapons that were 
threatening their positions, but did 
not have the authority to ask for 
bombing to prevent the attack on 


Gorazde itself, even though it was 
one of the “safe areas” designated 
by the UN last May. Nor did Mr. 
Clinton give such approval, until 
now. 

“Last ni fiH President Clinton 
decided enough was enough." Am- 
bassador Hunter said. “Many peo- 
ple thought that the Bosnian Sobs 
were going to try to get in ahead of 
a NATO decision, so last night the 
president decided not to wait” 

“This is not a lit-for-tat opera- 
tion," Mr. Hunter said, although, he 
declined to specify any of the tar- 
gets that might be hit. Mr. Butros 
Ghali, in a letter to NATO this 
week, asked for the authority for 
air strikes against “artillery, mortar 
positions or tanks in or around the 
above-mentioned safe areas.” 


IFssosy toi 
fail 

jfprt eaB tdHrow 
0 800 2703 


Continued from Page 1 

will tag along when a plane is sent 
to pick up the explorer. 

Mr. Ousland has already made 
one trip to the North Pole, a 1990 
expedition with Erhng Kagge, in 
which they became the first team of 
two men to reach the pole under 
their own power without support. 

With the reluctant blessings of 
his wife and family , he decided last 
year to take the concept a step 
further and make the tnp on his 
own, arranging sponsorship deals 
with Norwegian companies to cov- 
er the trip's $200,000 cost 

“He always did a lot of strange 
things,” said his mother. “When 
he's decided on something, he’s not 
to be dissuaded.'' 

A quiet, systematic man with a 
dry sense of humor, Mr. Ousland 
made meticulous preparation for 
the trip, testing and redesigning 
equipment to ready himself for ev- 
ery conceivable situation. “He's 
not a daredevil” said Mr. Eriand- 
sen. “%’s very cautious.” 

Mr. Ousland drank a glass of 
pure olive oil for breakfast every 
morning for a year to accustom his 
body to absorbing fat. He was so 
obsessed with keeping down the 
weight of his load that he even cut 
down the bristles on bis tooth- 
brush, Mr. Eriandsen said. 

But allowances were made for a 
Walkman. A fellow explorer ad- 
vised him that crosang a cold white 
wilderness called for music that hit 
hard. He chose Hendrix. 

He picked two books, Hesse’s 
“Narcissus and Goldman d” and 
the New Testament, and went to a 
bookbinder to have the margins cut 
and covers removed. 

Experience taught him that a .44- 
magnum is a handy thing to pad: 
on such trips. As he and Mr. Kagge 
closed in on (he North Pole in 1990, 
a polar bear appeared suddenly 
over a ridge and began charging. It 
was stopped by two shots to the 
chest. “It was him or us," Mr. OtiSr- 
land wrote in a 1991 account for 
National Geographic. 


When Mr. Ousland set off from 
Siberia seven weeks ago, his load 
was around 275 pounds (125 kilo- 
grams), but it is now at least 100 
pounds lighter because of reduced 
stocks. He designed his sledge so it 
could be used as a boat to cross 
open water, but he has done so 
sparingly. 

He eats prepared meals of salm- 
on ext ham, as well as grain saturat- 
ed with fat — with water for break- 
fast, dry for lunch — consuming 
6.400 calories a day in an effort to 
replenish the energy he is burning. 

At times, he has reported, the 
wind has blown so fiercely that he 
could not see where he was placing 
his feet, and on one frightening 
occasion he stepped l>riefly 
through the ice but was protected 
by his waterproof footwear. The 
solitude, he says, has not been too 
terrible. 

“Of course I have had some pty- 
cfaologica] down periods and have 
been in a bad humor, but it hasn't 
really been a problem,” he said 
Wednesday. 

The cold weather is the tough- 
est because it drains your re- 
sources,” he added. “My legs feel 
like jelly.” 

• Two other men gave up sola 


unsupported efforts to reach the 
Norm Pole this spring. R 
Hadow of Britain, was puDe 

! — - F* • . 


■ "MW 

Rupert 
fled off 


the ice after covering 29 miles from 
the northern tip of Canada in 23 
days. “There were daily risks to life 
and limb,” he said after being 
flown out “My view was that it was 
not something worth dying for.” 

Mitsuro Oba of Japan, fell 
through Lhe ice into the Arctic 
Ocean last month and used much 
of his fud trying to get warm again. 
He, too, was flown out. 

Amid the accolades, there are 
some grumbles that the money fi- 
nancing his expedition could have 
been better spent. Ingrid Ousland 
smflfid at this. 

“Others," she said, “say thank 
goodness there are still adventurers 
m the world." 


A Russian Baltic Outpost Is Trying to Snub Its German Past 


By Celestine Bohlen 

New York Tunes Service 

KALININGRAD, Russia — For half a century, 
Kaliningrad had no part. Captured by the Rod Army 
in 1945 and held as war booty, the aty^ 700-year 
history as KOnigsberg, capital of East Prussia, was 
nevr even mentioned in the Great Soviet 
Encyclopedia. 

Even manh ole covers bearing the emblem of the 
B ruined German city were removed as Communist 
* bosses set out to extract the “rotting teeth of its old 
identity. . 

This ruthless self-denial still haunts Kahmngrad, 
now an isolated outpost of a shrunken Ru^a. toned 
on the Baltic coast, just a few hours tram ndefrom the 
Polish port of Gdansk, Kaliningrad — the aty and 
region haw a population of 900.000 — finds itself 
separated from the rest of the Russian Federaricraby 
more than 600 miles ( 1,000 Wtomettra) and two inde- 
pendent countries, Lithuania and Belarus. 

Its population is overwbehnmgfy Rusa^^dyet 

its GtmSan origin, now 

agairy has added uncertainty about its future. No 


matter bow much local officials deny it, the possibility 
that Kalining rad may again be “Gernuurized" lingers. 

“There is no Germanization of Kaliningrad, it has 
not happened, h is not happening and it will not 
happen,* said Mayor Viiali Shipov. 

And yet, ethnic Germans from other parts of the 
forma: Soviet Union are moving here, some fleeing 


instability in Central Asia, others looking for a . 
way house between Russia and Germany. Official 
statistics put the number at less than 5,000, but resi- 
dent Germans say it is much higher — 20,000 and up 
— and growing. 

“Here there is a chance to have both cultures,” said 
Sergei, a young Russian Army officer who recently 
moved here from Kazakhstan with his ethnic German 
wife. He was one of two dozen people attending 
German lan g ua g e classes at the Russian -German 
House in Kaliningrad, which along with the Evangeli- 
cal Church services at the Victory movie theater has 
become a gathering place for ethnic Germans. 

Elvira Braining, an ethnic German whose husband 
is Russian, left Uzbekistan last year, looking for a 
midway point be tw ee n Russia and Germany, where 
her parents had emigrated several years ago. 


“Geography is the reason, but there are also Ger- 
man roots hoe,” she said. “And people can satisfy 
their cultural and religious needs.” 

Raimar Neufddt, director of the Russian-German 
House, is serving as Germany's official representative 
pending the opening of a consulate here later this year. 

He the German government had avoided the 
question of the resettlement of the old Soviet Union’s 
ethnic Gomans — descendants of emigrants to czarist 
Russia — who have decided to live in this sanative 
enclave. 

“We have to be very careful" said Mr. Neufddt. 
“Th era are Russian Gomans coming here daily, but I 
can’t help them. They have to have official registra- 
tion, and in many cases it is impossible because they 
have no place to live and work.” 

Like Mr. Neufeldt, Erwin Motzkus was bom in 
Kbnigsburg, and was deported, forced to walk 
through Poland to Beilin in the bitterly cold winter of 
1945-46. Now the mayor of Potsdam, in what was once 
East Germany, he has come back, heading a consor- 
tium of buanesses eager to re-establish old links with 
the Russian economy. 


Although there are German nationalists who have 
tried to arum up support to take back Kaliningrad, 
both Mr. Motzkus and Mr. Neufddt are resigned to 
the fate of their native aty. 

“For 700 years this was German territory, but we 
lost the war,” said Mr. Neufddt. Mr. Motzkus added: 
“I wouldn’t want anyone to be harmed as we were 
harmed. It is not their fault that they are here.” 

like other Germans looking to do business here, 
Mr. Motzkus has found the process painfully cumber- 
some and slow. 

Despite the region’s eagerness to boost itself as one 
of Russia's two “free economic zones,” and to prove 
its viability as a beachhead fra: European investment, 
there is a wariness about German capital here that 
only compounds Russia’s own uncertain business 
climate. 

Still a mini boom in trade is on. Russian economic 
incentives, and arrangements with Belarus and Lithu- 
ania which permit tariff-free transit between Kalinin- 
grad and Russia proper, have contributed to a three- 
fold rise in exports, a fivefold rise in imports and 
than 200 new joint ventures in the last year. 


more 


ARREST* A live Toon Goes Splat 

train wagon placed on the rails of 
an abandoned station in Berlin. 
The wagon was activated by remote 
control after the money was placed 
inside it, but it stalled and wait off 
the trade. 

Another late-night attempt to 
nab the man was foiled when a 
policeman chasing Dagobert 
slipped cm dog waste. 

A police source said that that 
policeman, who had been widely 
ridiculed by the media, was given 
the honor of arresting Dago bat in 
the eastern district of Trap tow. 

Dagobert masks and T-shirts 
have been selling briskly, a Berlin 
musician has recorded a Dagobert 
rap song, and a book cm him is due 
out soon. 

“It’s a shame it’s over,” said a 
Berlin radio commentator. “Jour- 
nalists had a lot to write about, 
people had a lot to read about and 
the police had a lot of frustration.” 
(Reuters. AFP) 


Continued from Page 1 

ransom in a roadside bin used to 
store grit for use on icy roads. They 
waited for hours for Dagobert to 
appear before looking in the sand- 
box to find that it had been placed 
over a manhole. 

Dagobert had vanished into Ber- 
lin’s underground sewer system 
with what Ire thought was the ran- 
som —but the police had put wads 
of paper in the bag. 

The police had been following 
the suspect for several days after 
spotting a man driving a car that 
matched a description of the black- 
mailer’s. He was arrested Friday 
morning after he called a special 
telephone number known only to 
him and police. 

The police had gotten dose to 
Dagobert on several occasions pre- 
viously. 

In January, he asked that the 
ransom be placed in a homemade 


Tfata; From ‘Accidental Politician’ to Ultimate Tokyo Insider 


By David E Sanger 

New York Tima Service 
-Anyone who steps into Tsutomu 
-dll sett instantly that it is the 



' 


Part of Mr. Hata’s 
ilained by the fact that 


polarity can be ex- 
am ed by me ram uuu »«* ^ ves ID, j? l hf 

ne did when he was a buMOW op^rrajte 
1960s. before he became what he calls an 

* ’IS^^rid.yofUKfordgnminiv 
ter to be the next prime minister and to save the 

i^: 0 !r 536 * ixsd{ w 


ut an 
After 


After oaoDirog with a rebel in 
minister’s office for thelast 
leaders of Japan’s fractious coalition have 
turned to the most cautious of reformers. 

His predecessor, Montano Hosokawa, came 
to office in August as an outsider boasting little 


in tire brutal backrooms of Tokyo 
ilics; he spent much of the winter proving it. 
Mr. Hata, in contrast, is the consummate insid- 
er, known fra 1 a jovial modest maimer that 
iwalrwt him a superb deal-cutter, but an un will- 
ess to cross Japan’s powerful bureaucrats, 
difference was striking on television Fri- 
day night When Mr. Hosokawa came to power 
nine months ago, he talked of the need to 
rebuild a political and economic system that 
has “grown moribund and out of toudj with the 
realities of the rest of the world.” On Friday, 
Mr. Hata never used the word reform, but 
spoke about stability, consensus and unity. 

“I will put all my effort to make Japan a 
country that can be trusted, loved and under- 
stood id international society," he said. 

There is no question that Mr. Hata, 58, 
harbors a rebellious streak of his own: After 24 
years in the Liberal Democratic Party, he bolt* 
ed last year, a leader of the internal coup that 
sparked the biggest reordering of the Japanese 
political tystem since the end of World war II. 

Since the revolt, he and his closest political 


ally, Ichiro Ozawa, Japan's strongest and most 
wily behind-the-scenes political power, have 
been at the center of reordering Japanese poli- 
tics. They have called for wbai Mr. Ozawa calls 
a “normal nation” that plays a far greater role 
in world affairs and moves beyond Japan’s 
reflexive isolationism. 

Members of the party say a likeable deal- 
maker may bejnst what the country needs after 
nearly a year of chaos. 

Mr. Hosokawa brimmed over with ideas 
about deregulating the economy, res nurturing 
the tax system and overhauling Japan’s defense 
force. But be lacked the internal political skills 
to o uch most of those changes through the Diet, 

or parliament Mr. Hata may not be able to 
define the problem as dearly, but most who 
know him suspect he will be far more adroit. 

His strength lies in the fact that be, too. had 
called for change before it became politically 
fashionable. He advocated strong reforms of 
the deetoral system, and when it became clear 
that Liberal Democratic leaders were ignoring 
him, he hoped lead the defections last summer 


that ended the party’s 38 years of rule. He has 
talked at length abort tire need to apologize for 
Japan’s crimes in World War n. When the 
subject turns to the kinds of economic refrains 
demanded by Japan’s trading partners, espe- 
cially the United States, he turns vague. 

But in a long career that has included stints 
as agriculture minister and finance minister, 
Mr. Hata has never failed to mouth the brief be 
was handed by the bureaucrats in Us ministry. 

Tsutomu Hata was born on Aug. 24, 1935, in 
Tokvo, the first son of a family that includes 
wealthy landowners in Nagano Prefecture. His 
father was a reporter for the Asahi SJmnbun, 
one of Japan’s largest newspapers, who ran for 
election to parliament in 1937, just as Japan 
was immersing itself in the war in Asia. 

Never a remarkable student, the younger 
Hata graduated from one of Japan's less-presti- 
gious institutions, Sdjo University, and then 
failed the entrance test to become a reporter at 
the Asahi and one of its major competitors. 

His first job was counting the fares collected 


by bus conductors. Two years later, in I960, he 
began to direct tours, and the contact with so 
many residents of Nagano turned out to be 
invaluable for his political career. 

The connections Mr. Hata mad<> in the bus- 
tour business soon paid off. When his father fell 
ill the Liberal Democratic Party nominated his 
son for his seat, and he was elected in 1969. 


Mr. Hata quickly joined the faction con- 
ikuej Tanak 

impli 

dal For years Mr. Hata kept his head down. 


trolled by Kakuei 
minister later i 


anaka, the Japanese prime 
ilicated in the Lockheed s 


I scan- 


focusing on agriculture, the major industry of 

his mountainous district 

By Japanese standards, a colleague of his 
noted recently, “he is remarkably dean; he 
doesn’t care about money.” But the same was 
said of Mr. Hosokawa, and the scandal that 
brought him down proved what political pro- 
fessionals is Japan have said for years: One 
cannot have served in the Tanaka faction with- 
out having seen huge shopping carts of cash roll 
by every day. 


JAPAN: 

No Bold Moves Expected 

Cortinuedfroai Page 1 

increasing funds earmarked this decade for 
public works projects. 

As fra deregulating an economy that is chok- 
ing on bureaucratic excess and piling up the 
biggest trade surpluses in its history, the evi- 
dence suggests that Mr. Hata will move cau- 
tiously. until last year, he was a loyal member 
of the Liberal Democratic Party, defending 
policies that protected domestic industries. 

“Personally, he’s inclined to swallow whole 
what the bureaucrats say,” the Western official 
said. “And as prime minister we see little reason 
to think bell break the style of showing great 
deference to bureaucratic opinion.” 

Yet Mr. Hata, who is likely to be elected 
prime minister by the Diet on Monday, will be 
under enormous pressure to placate Washing- 
ton by following through cm the governments 
pledge to deliver a specific package of econom- 
ic-stimulation and market-opening measures 
before the G-7 meeting. 


se i 


AP, 

fm 


TBTrt s^ffdss >.?<(•¥ C3«?P E*? B ETy* 83 gS^g 



r.tjttfswssn *- 


INTERNATIONAL HERALD TRIBUNE 



SaturdaV'Sunday. 
April 23-24, 1994 
Page 6 


New View of Goya: 
His Small Paintings 

imermicnal HcraU Tnbuttt a crayon sketch of “Adam and Eve Driv 

L ONDON— A curious vision of one Out of Eden" in Goya’s notebook. Hie 
of the greatest Weston painters is couW be no dearw evidence of tbeprcvalcn 
offered at the Royal Academy un- of form over subject in Goya’s memoiy. 
der the title “Gova, the Small Paint- The other revelation that comes out in tl 


Jnsernmicnai HcraU Tribune 

L ONDON — A curious viaoo of one 
of the greatest Western painters is 
offered at the Royal Academy un- 
der ihe title “Goya, the Small Paint- 
ings.” While it may sound at first like some 
spoofy excuse for the greater ease with which 
small formats are earned, insured and bor- 
rowed, the choice effectively results in what 
could be called “A View From the Studio." 

The small formats were either sketches 
done as pre liminar y steps, or pictures paint- 

SOUREN MELHQAN 

ed by the artist for his own satisfaction. They 
differ vastly from the formal commissons. 
More thun half come from private collec- 
tions or museums off the beaten path, fur- 
ther contributing to a feeling of surprising 
novelty from start to finish. 

This begins with the stunning portrait of 
the artist as a young man from a private 
collection. The artist is seen sideways, turn- 
ing to peer at the viewer with a searching 
expression, both imperious and full of hu- 
man understanding. The self-portrait has a 
Rembrandt touch to it, the panache includ- 
ed. So does a miniature self -portrait done 
around 1795-1797, which came to light for 
the first time since 1900, when h was auc- 
tioned at Edmund Peel & Asodados on Oct- 
31, 1989. This small gem wiU come as a 
revelation to most viewers. Goya’s features 
are drawn, almost haggard. Ffis eyes stare at 
some invisible point, lost in the self-absorp- 
tion of a man who had just been stricken 
with complete deafness. A third self -portrait 
shows him in his studio, area 1794-95. 

But the most striking discovery as a grow 
lies in the series of sketches in oils quickly 
jotted down as prehminaiy thoughts for 
planned paintings. They sum up what mat- 
tered most to the painter — light, movement, 
the atmosphere these suggest. The very first 
picture, a sketch for “Hannibal the Conqueror 
Viewing Italy for the First Time From the 
Alps" is, again, a novelty. When reproduced 
in 1984, it aroused considerable skepticism. 
Only last year did a careful cleaning remove 
alterations introduced by over-restoration. It 
shows the main area to be well preserved. The 
discovery of Goya's notebook from Ms early 
years in Italy proves that it elaborates an 
outline first done in chalk. Chiaroscuro effects 
inherited from Caravagesque painting com- 
bine with an unusual palette in light tones. 

A finished picture from that early period, 
which was perhaps started in 1771, points to 
the overriding importance of sculptural form 
and light In “The Baptism of Chnst," there is 
no setting. Masses of hazy color, veering from 
blade to ocher, fill the ground. The postnre of 
Jesus, Us legs flexed, his aims raised toward 
his face, is almost identical to that of Adam in 


a crayon sketch of “Adam and Eve Driven 
Out of Eden" in Goya’s notebook. There 

could be no dearer evidence of the prevalence 
of form over subject in Goya’s memory. 

The other revelation that comes out in the 
oil sketches, when compared with the repro- 
ductions of the finished pictures in the cata- 
logue, is the initial search for expressiveness 
that mostly gets polished away. In a sketch 
for “Annunciation," in the Boston Museum 
of Fine Arts, the angel stands in front of the 
Virgin, eyebrows raised over his troubled 
eyes drowned in shadow. Mary, who has red 
eyelids, seems to have been crying. AD that is 
gone in the final version. The angel looks 
gravely serene, the Virgin almost happily 
absorbed in her reading of a Hebrew scroll 
A mix of caricature-ike exaggeration and 
parody soon appeared in the preparatory 
sketches. A study for "Winter," a tapestry 
cartoon, shows three characters in a snow 
storm walking with a dancing movement as 
they try to keep over their heads a single 
blanket to shield themselves. The landscape is 
summarily dispatched like a theatrical back- 
drop. But great care has been brought to the 
faces, half grinning with pain, half-amused. 

A S GOYA grew oklex, the search for 
expressiveness, far from toning 
down, intensified Hie sketch for 
“Tbe Mirade of Saint Anthony of 
Padua” is an extraor di nary study in shadow 
(heater. Barely formed figures stand out 
against (he pate blue or white of a sky that 
could have been painted by an advanced 
Impressionist. Ghostly apparitions half mdt 
into the clouds. Only one character cleariy 
emerges, die standing saint towering above 
tbeaOTdHanKX±ingperMptionisthcre,as 
if Goya could not help himself. A little boy 
straddles the railing as a man b ehin d throws 
up Ms anns, presumably in wonder. 

No trace remains of tins obsessive search 
for gesticulation and nrimidny in the finish ed 
fresco on the cupola of San Antonio de la 
Florida on which Goya spent 120 days. Yet, 
there were spin-offs to these sketches and the 
aesthetics they reveaL They are small pictures, 
not done as studies for any future works, bat 
as finished pictures in (bar own right, often 
filled with a kind of furious snarling irony. 

‘The Duchess of Alba and la Beata," in 
which a young woman, the duchess, leans 
forward toward an old lady's maid is the high 





Detail of Goya’s “Self-Portrait in the Studio ” c. 1794-95 . 


by the red cord that the duchess dangles 
under her nose. She rolls her eyes as she 
throws back her bust, brandishing a wooden 
crucifix with one hand and leaning on her 
cane with the other. Geverty painted in 
white, blade and toadies of livid yeOow, the 
sketch is utterly unfunny. 


Yet, this is the merrier side to the pictures of 
private terrors in which Goya indulged. A 
darker strain comes out in a group of 12 
paintings done on tin-plated metal sheets, 
about 43 by 32 centimeters. Sx of diem deal 
with the banal ferocity of Spanish life in the 
form of bulSditing — Goya was, himself, an 
aficionado. The six others dwell on forms of 
cruelty in human face. “Interior of a Prison" 
and “Yard With Lunatics” are deeply disturb- 
ing visions of sadism and suffering that, to a 
20th-century viewer’s mind, conjure up mem- 
ories of concentration camp photographs. 
Painted in a brownish hare, they have more 
than a touch of “Nacht und NebeL" 

Were such compositions intended as pro- 
tests by Goya, who fought every aspect of 
repression and injustice? We know he visited 
prisons. On Ms wife’s side, there were insane 
members of the family in an asylum that he 
probably would have seen. Tbe prison and 
madhouse scenes may reflect Ms emotions. 

But the purpose of other caprichos, done 
later, is more obscure. They are like recurring 
nightmares transcribed on canvas. Some, 
"Gypsies Resting in a Cave," “A Plague 
Hospital” are Impressionistic views of fig- 
ures half-seen in darkness. Tbe latter, partic- 
ularly, has an evocative power in its sketchy 
rendition of shadowy figures that sets Goya 
apart from any trend in European art 


BOOKS 


THE GAME IS AFOOT: 
Parodies, Pas tidies & Pon- 
derings of Sherlock 
Holmes 

Edited by Marvin Kaye 512 
pages. $24.95. St Martin's. 

Reviewed by 
Michael Dirda 

I T was during the autumn of 19- 
that I first made the acquaint- 
ance of Mr. Sherlock Holmes. Re- 


ANTIQUES 


turning late one afternoon to my 
lodgings, I chanced to encounter an 
old school friend who had risen 
somewhat in the world and as- 
sumed a part-time position at the 
local branch library. The weather 
being remarkably fine for October, 
and my homework complete, I 
yielded to Ms entreaties that I ac- 
company Mm to his place of em- 
ployment There, be assured me, 
awaited a remarkable volume that 
could not fail to arouse my interest 
To my recollection — I have. 


alas, misplaced my notes for that 
year — the book was rather worn, 
with a faded red cloth binding, and 
evidently much read: Tbe Com- 
plete Sherlock Holmes" by Sir Ar- 
thur Conan Doyle, little did I 
know bow momentous the next few 
hours were to be! As I hunched 
over the wooden library table, tbe 
florid evening quietly faded toward 
night, and was replaced by what 
many before me have called the 
best of all possible worlds, that 
centered ou 221 B Baker Street, 


ART EXHIBITIONS 



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where the fog lies thick, the hansom 
cabs run briskfy to Paddington, 
and the game is always afoot 
To those who love what Hoime- 
rians call the Canon (or the Sacred 
Writings — 56 stories and four nov- 
els), a mere name, title or quotation 
can set off little explosions of wist- 
fulness and affection; Irene Adler 
“of dubious and questionable mem- 
ory," Professor Moriarty, “Mr. 
Holmes, they were the footprints of 
a gigantic hound L,” “Tbe Giani Rat 
of Sumatra" (tbe most famous of 
those haunting tales “for which tbe 
worid is not yet prepared”), the 
mat struggle at the Reicbenbacb 
Falls, the deadly Coland Sebastian 
Moran. “The Sign of Four," and 
that corpulent human computer 
Mycroft Holmes, who at times is tbe 
British government 
Above them all, of course, 
stands, or more probably slouches 
on a settee with a. Stradivarius 
across his knee, the moody, melo- 
dramatic, ever-astonishing Sher- 
lock Holmes. Nearby scribbles Ms 
friend and chronicler Dr. John H. 
Watson, that very embodiment of 
bluff Victorian ideals, “the one 
fixed point in a changing era." It is 
hardly too much to say that one 
would rather unearth a new adven- 
ture of the immortal duo than dis- 
cover a new sonnet by Shakespeare. 

‘The Game Is Afoot" reminds us 
that the worid has always been fully 
prepared for more (ales about tbe 
greatest of all detectives. Marvin 
Kaye, the editor of the collection, 
has mixed together some of the old- 
est parodies or pastiches of Holmes 


(by Bret Harte, O. Henry, James M. 
Barrie) with some of the most fam- 
ous (Vincent Starretf s “Adventure 
of the Unique Hamlet," S.G Rob- 
erts’s “Strange Case of the Megath- 
erium Thefts”) and several modem 
pieces, ranging from James C Iral- 
dTs perfectly pitched “Problem of 
the Purple Manilas" and Ruth Ber- 
man’s rather jejune "Sherlock 
Holmes in Qz" to Daniel Fink- 
water’s ingenious “Journal of a 
Gfaurka Physician” and Robert 
Bloch’s vindication of Mcriarty, 
“The Dynamics of an Asteroid." 

Besides these diverting “tmea- 
nonicaT tales, Kaye’s anthology 
also reprints scholarly inquiries 
into several biographical cruxes in 
the life of Holmes. Jacques Batzun 
speculates on how the detective 
came to play (he violin, especially 
when in a melancholy temper (be 
was taught by his talented and, sad 
to say, unmarried mother); Poul 
Anderson performs a stunning set 
of deductions about the unwritten 
tale referred to as simply “the sin- 
gular adventures of the Grice Pat- 
tersons in tbe island of Uffa" (that 
word “in" provides the key), and 
Kaye reprints his own short mono- 
graph on “Tbe Histrionic Holmes,” 
wherein he examines the detective’s 
exceptional acting ability. 

As for those readers who have 
yet to discover the Sacred Writings, 
one can only envy such good for- 
tune. A better world awaits you. 

Michael Dirda is on the staff of 
The IVashington^Post 


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A Secret Picasso Muse : 

Jazz- Age Luminary Linked to Paintings 


By Michael Kimmelman 

Hew York Times Senke 


N EW YORK — A lead- 
ing Picasso scholar rays 
tha t hundreds of paint- 
ings and drawings 
made by the artist during the 1920s 
were inspired by an infatuation 
with the American socialite and 
jazz-age hi mi nar y Sara Murphy, 
and are not, as has long been 
thought, iriaatrrari figures Or depic- 
tions of the woman who was Picas- 
so’s wife at the tune, Olga- 
Among the works is the “Woman 
in Whitt^ at the Metropolitan Mu- 
seum of Art 

Die assertion that some kind of 
romance took place between Picas- 
so and Sara Muiphy is made by 




• . V § v 




Others still, like the scenes of cannibalism, 
have a sick side. Occasionally, they lapse into 
cheap kitsch such as “The Witches Sabbath," 
immensel y intriguing from a painter whose 
mastery was so complete. Was it a kind of 
release to this man locked up within hims elf? 
Time seems little doubt that small-format 
painting was often Goya’s form of thinking . 

Toward the aid of his life, while in France, 
to which he fled as a youthful 78-year-old, 
tillable to suffer the stiffing and bloody dicta- 
torship of Ferdinand Vu, Goya painted a 
series of miniatures on ivory (which implies 
care and consideration), paradoxically 
dashed off in carbon black and watercolor. 
“Heads of a Child and an Old Woman" (a 
mongoknd child and a mad woman?) seem to 
be recollections from tire madhouse. “A 
Seated Majo and Maja " is like an anticipa- 
tion of Manet’s I mp re s sionist characters of 
the early 1870s, only more advanced. 

“There are no inks in painting,” Goya 
wrote to the Royal Academy of San Fernando 
in 1792. He broke them all, including his own 
Deaf to the world’s protests, tike Beethoven, 
whom he resembled so much, (he embittered 
idealist ushered in the modem age. 

'‘Goya, the Small Pamtinp” will be at the 
Royal Academy until June 12, and at the Art 
Institute of Chicago, July 16 to Oct 16 


William Rubin, the Picasso scholar 
and former head of the department 
of painting and sculpture at the 
Museum of Modem Art, in “The 
Pipes of Pan: Picasso’s Aborted 
Love Song to Sara Muiphy,” an 
article to be published in the May 
i«mip- of the magft7me Art News. 

“Confronting some several hun- 
dred images — many of them pa- 
tently romantic — it was hard to 
avoid concluding that Picasso was 
mesmerized by Sara, indeed, enam- 
ored of her," Rubin writes. 

He believes “Madame Picasso," 
a work in the National Gallery in 
Washington that Christian Zervos 
— the author of the complete cata- 
logue of Picasso’s art, once identi- 
fied as a portrait of Olga — actual- 
ly depicts Sara. 

Moreover, he says the monu- 
mental painting “The Pipes of 
Pan," in the Musee Picasso in Paris, 
a work tint depicts two young 
males, began as a four-figure com- 
position that included Sara in the 
role of Venus and the artist himself 
in the role of Mars, bat that her 
rejection of Mm caused Picasso to 
eliminate Sara from ft. 

Infrared photographs of the 
painting , he writes, support Ms 
conclusion that the composition 
began with a figure erf Venus and 
rhangari radically. 

“Picasso is so wdl known, yet 
there is deariy a part of his life and 
work that he kept secret and that he 
lied about to interviewers," Rubin 
said in an interview in his office at 
the Modern. 


■■ <: • ■ 










Scholar says Sara Murphy posed for “ Woman in White . 1 


P ICASSO possibly misdat- 
ed works depicting Sara to 
throw people, specifically 
his wife, off the track, said 

Rubin. 

By going through Picassb's vast 
output between 1921, when Picasso 
met Sara, and 1924, shortly after 
the infatuation ended, Rubin said, 
he can now associate hundreds of 
works with her. 

Many of these associations are 
hard to see, however, because Pi- 
casso tended to stylize or idealize 
his depictions, and sometimes 
blended portraits of different wom- 
en into otic. Yet Rubin insisted that 
after countless hours of looking at 
these works (in preparing an exhi- 


bition erf Picasso portraits he is or- 
ganizing at the Modern for 1996) 
he has tittle doubt that they repre- 
sent Sara. 

He writes in the article that tbe 
Picasso authority Pierre Dtax was 
long ago told in confidence by the 
artist that a painting from 1923 was 
a portrait of Sara, and that Honoria 
Donnelly, the Muiphys’ daughter, 
has known the same thing about 
certain drawings. 

But previously, no one, Rubin 
stales, “suspected tbe existence of 
the almost 40 ofl paintings nor the 
more than 200 thawings of Sara 
that we can now identify. Indeed, 
in 1923, pictures of Sara far out- 
number those of Picasso’s wife, 
OteL" 

Gerald and Sara Muiphy were 
famous jazz-age figures: they were 
the models for Dick and Nicole 
Diver in F. Scott Fitzgerald’s novel 
“Tender Is the Night” Urey lived 
at the Hold du Cap, just outside 
Antibes. France, in the summer of 
1923, when Picasso was also there. 

Gerald Murphy had been 
trained as a landscape architect at 
Harvard, then had studied with the , 
Russian painter Natalya Goncha- 
rova, as had Sara. It was while they 
were helping to repair scenery at 
the Ballets Russes in Paris in 1921, 
at Goncharova’s behest that Picas- 
so may have first met Sara. 

Gerald became a Predaomst 
painter, along the lines of Charles 
Sheeler and Charles Demuth, 
whose proto-Pop depictions of 
consumer goods included products 
manofactiued by the Mark Cross 
saddlery and design company, 


which Ms father owned. (In the 
1930s, Gerald returned to the Unit- 
ed States and took over (he busi- 


He also collaborated with Cole 
Porter on the ballet “Within the 
Quota,” a relationship Rubin hints 
may have been homosexual. 

Rubin suggests in the Art News 
article a scenario in which Picasso 
used his considerable nwg. 

netism” to woo Sara in Antibes 

S the summer of 1923 when 
retreated to be with Porter 
in Venice. Rubin stops short of 
rfamring that the “serious flirta- 
tion” between Sara and Picasso es- 
calated intasex. 

“I don't know for a fact that 
anything happened," Rubin said, 
“but my feehng increasingly is that 
ft was a brief thing probably, but 
that it did happen. If she needed 
any rationale, it didn’t hurt that her 
husband was off with Cole Porter 
in Venice while Picasso was court- 
ing her.” 

John Richardson, the Picasso bi- 
ographer, agreed with -Rubin’s 
analysis. He noted that in 1980 in 
Arts magazine, two ait historians, 
Robert Judson Clark and Marian 
Burleigh-Motley, identified the 
source erf the final version of “Pipes 
of Pan” as a homoerotic photo- 
graph from 1901 by Baron Wilhelm 
von GJocdeo, winch Richardson 
said makes an interesting potential 
allusion to Gerald and Cole Pbrter. 

Rubin, when told of the 1980. 
article, said ft added another piece 
to tire ptmle of what he is caHmg * 
“the four-cornered triangle” of the 
Murphys, Picasso and Porter. 


A Hazy Focus on the Past 


By Pendope Rowlands 

P ARIS — In her latest work, the artist Selon 
Smith takes traditional elements — a chateau 
door, a canopied four-poster bed — and 
photographs them in such a way that they 
become as provocative as a shouting match. 

Her images are huge, more than six feet tall (about 
1.8 meters), and almost always lopsided and out of 
focus. They’re also morbid, nostalgic and strangely 
moving “Ladies Portraits & Oval Bed" (1993), one of 
the strongest pieces in Smith's show at (he Mus6e des. 
Beaux-Arts in Nantes (through May 23), is a diptych 
that shows, on one side, a wall of period portraits; a 
canopied bed and a round mirror dominate the other 
side. 

Although devoid of human life, the atmosphere 
seems charged with it; we can almost see the people 
who once lived in these rooms going about their lives. 
The inaccessibility of the past is just one of the 
recurring — and haunting — themes in Smith's work. 

Although French critics have made much of the fact 
that Smith documents “le patrimoine, " France’s cul- 
tural heritage; Smith, 38, says she is after something 
more universal. In fact, the photographs in her show 
were taken all over Europe. Her preoccupations are, 
like the artist herself, deeply American. 

“I have been living in Europe for some years,” 
Smith has said. “But while observing its cultural 
heritage, I am always reflecting on my own, of ghettos, 
tract housing and super-maDs.” 

An American who has spent the last decade in Paris, 
Smith is becoming ubiquitous in the art scene on both 
continents. Besides her show in Nantes, she has two 
current shows in New York as wdl as fort hcoming 
ones in Los Angeles and Paris. 

Smith lias a way of talcing the existing landscape, 
whether man-made or natural, and making ft resonate. 
She admits to a preoccupation with “what effect space 
has on us emotionally and psychologically." In her 
work, she insists that people notice the buddings and 
landscapes around them, that they come to pips with 
their meaning To this end, she transformed a Breton 
roadside a few years ago by adding photographic 
billboards lo the side of the road; in 1992, she played 
similar tricks by adding large photographs of nature to 
a new parking structure at Reims — “soft advertis- 
ing," as one French critic called ft. 

A LTHOUGH Smith uses photography in 
her work, she is the first to admit that she’s 
not a photographer. Her photos are fla- 
grantly ami-photographic, defying every 
known convention of the me dium “Ideas are very 
fixed on what photography should be," she said. Tm 
trying to use it in another way." 

Photography is the means to her work, not an end in 
itself; it’s the form she uses to get at conceptual issues. 
Not everyone has seen tbe distinction. “It took me 
years to find someone who would print what I wanted 
to," she says, with a laugh. “At one lab, the woman 
said, This is garbage. I won’t prim it.* " 

Smith started out as a painter, then turned to 
photography because she found it more efficient. 
“With photographs, people go to the idea, rather than 



A! 


An interior by Seton Smith. ! 

the photo." she said. “I made paintings that were naive | 
p a intings but people only looked at them as naive i 
paintings. They didn’t look at what I was uyiag to do 1 
conceptually.” J 

Smith grew up in suburban New Jersey, the daugh- ■ 
ter of Tony Smith, a well-known mimmalist sculptor * 
who died in 1980. Her preoccupation with architec* ! 
ture is deep-rooted, apparently; ask her about her • 
childhood and she’s apt to dfonua: the architecture of 1 
the two houses in which she grew up — one shingle. ! 
the other Georgian-inspired, Her family was — and ’ 
remains — remarkably artistic. 

Ha: mother, Jane, is an actress and KOri Smith, her ! 
Older sister, is a much-lionized New York artist. 1 
Another sister. Debt, died of AIDS in 1988. ; 

Of her father s sculpture — often hugely scaled and i 
execu ted in steel — Smith said: “It’s interesting work, ■ 
quite complex. No one has even scratched the surface ‘ 
of it i(W. M ; 

Smith lives in a light-filled, minimally furnished ! 
apartoem and admits to having become irrevocably « 
Ppsian. “I can work in peace here. In New York I 
when you go oniside you have the possibility of ■ 
meetiM everyone yoo*vc ever known tm the street. I [ 

0111 by moving to Europe, - 

riie said. ^Here my life is way qirieL" 1 

Besides, said Smith, who’s seriously addicted to 
Camd Lights. “I don’t see how I could go back.- 1 - 
wouldn’t be able to smoke there." 

Penelope Rowlands is a writer based in Paris. 









INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24, 1994 






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JRH31^MCLEAK 


8. In the last 12 months, approximately bow many nights 
have yon spent In hotels on business? 

None 3 8 ~ 14 3 30-4-9 3 75 or more 3L 

1-7 □ 15-29 □ 50- 74 3 

9. In the last 12 months, how many times have yon rented a 
car (for business or personal reasons, at home or abroad)? 

Not rented 3j 3-6 rentals [33 15 rentals or more GL 

1 -2 rentals Q 7 -14 rentals □ 

10. Please indicate whether you have done either of the 

following in the past 12 months: 

FOR PERSONAL FOR BUSINESS 
REASONS REASONS 

Flown in a privately chartered aeroplane 31 Cl ca* 

Used your company's private aeroplane 31 3 ^ 




^ ; «/»« ««»; swtwut vc 




tr’ri... 




A U.S. DOLLAR FROM YOU TO A CHARITY 


VOI R OCCUPATION 


20. Are yon . . . ? 

Working full-time 3] Student 3 Not in a paid occupation 3U 
Working part-time 3) Retired 3 Other 31 

(/you ere no/ working Jull-time or part-time, please skip to bottom of page. 

21. What is the principal activity of the organisation for 


• ^'SSSS 5% 


V YOU AND THE INTERNATIONAL HERALD TRIBUNE 


1. Where do you usually obtain your copies of the 
International Herald Tribune? 

subscription delivered to your home 3o* 
subscription delivered to your office - personal subscription 3 

-circulated copy 31 
buy regularly from newsagent / newsstand 3 
buy occasionally from newsagent /newsstand 3 
friend or colleague's copy 3 
airline /hotel copy 3 

2a. How often do you usually read or look at the IHT? 

5-6 days a week □ 1 - 2 days a week 3ra 

3-4 days a week 3 Less often than once a week Q 

2b. Where do you usually read or look at the IHT? 

(Please cheek all that apply) 

At home 3 Traveling abroad 3 mu 

At work 3 • Elsewhere Q 

Traveling to and from woik 3 

3 a. Does your spouse/partner read your copy of the IHT? 

Yes Q . - ■' ‘ No 3m 

3b. And how many people in tota l, excl uding yourself, 
usually read your copy of the IHT? 

One 3 Tbree Q Five or more 3ns 

Two 3 Four Q No one else 3 

4. How interested would you be in reading a lengthier, 
magazine-type article in the IHT? . 

Very interested 3 Quite interested 3 Not very interested 3 m 


TRAVEL 


5. Approximately how many business air trips did you 
make in the last 12 months? (Count a round trip as one). 

None 3 3-5 Q 10-19 3 35 + 3 m 

1-2 3 6-9 3 20-34 3 IFNONEJ0WTOQ8 

6. To which of the following destinations did you fiy on 
* business in the last 12 months? 

EUROPE THE AMERICAS 

Luxemburg GW USA GW Monssia GL 


lla. Please indicate whether you own any of the following which you work? 

companies’ calling cards, excluding pre-paid telephone Primary/Public Utilities GW 

cards. (Please check all that apply) ManufectunngTngmeermg □ 

AT&T □ MCI □ Sprint Q*. Wholesale/Retail Q 

Other □ Do not own one □•‘skip to q.h. Financial Services □ 

llb. How many times, on your last business trip outside Other Business Services 3 

your own country, did you use your calling card? 

, — , _ _ 22. What is your job status? 

None 3 Twice n 6-9 13111(58 Q® Proprietor/Partner Q m 

Once 3 3 - 5 times Q 10 or more times 3 “ ‘ 


ABOUT YOU 


12a. Of which country (or countries) are you a citizen? 

(Write in) jjSoj 

12b. In which country are you currently resident? (Write in) 

(«■«» 

{O^L 

12c. For how long have you been living in your present 
country of residence? 

Less than 6 months 3 1-2 years 3 5 - 10 years 3L 

6-12 months 3 2-5 years 3 I0 °™D 

13. Are you? Male 3 Female 3(«) 

14. What is your age? 

Under 25 □ 35-44 3 55-64 0* 

25 - 34 3 45 - 54 3 65 orover 3 

15. What is the highest educational level you attained? 

Doctorate/ i — i University degree/ equivalent i — i 
higher university degree L_u professional qualification LiJ m 

MBA 3 Secondaiy or high school 3 

16. Into which of the following groups does your pre-tax 
annual household income from all sources fall? 

(Check in USS or write in your own currency) 

Up to US $50,000 □ $150,000 to $199,999 GU 

$50,000 to $74,999 □ $200,000 to $249,999 Q 

$75,000 to $99,999 Q $250,000 to $499,999 Q 

$100,000 to $149,999 Q $500,000 or more □ 

Or annual income in own currency (write in) 

17a. How many cars are there in your household, 
including any company cars? 

No car 3 One 3 Two 3 Three or more 3^ 

17b. What do you estimate to be the current cost of your 
main car, if purchased new (to the same specification)? 


Chairman/ i — i 
Chief Executive/President Lu 

Managing Director/ t — i Technologist j=j 

General Manager LjJ Academic | A \ 

Other Senior Management 3 Teacher 3 

Middle Management 3 Senior GovemmenUpfficCT/ |~J 

Executive 31 Other (Please give details) 31 

Self Employed/ rn ^ 

Independent Consultant L_zJ 

23. For which, if any, of the goods and services listed below 
are you wholly or partly responsible for company decisions 
to purchase or lease, or to appoint or change a supplier? 

(Please check as many as apply) 

COMPUTERS/SOFTWARE «in> 

Network Systems 3 Corporate Financial Services 3io>* 
PCs/Desktop Computers/WPs 3 Fund Management 3 

Laptop Computers 3 Foreign Exchange 3 

Computer Peripherals 3 Insurance Services 3 

Software/Software Services 3 Company Credit Cards 3 


Education 3e» 
Legal 3 
Medical 3 

Government/ j — | 
Diplomatic Service L_<J 

Other (Write in) 31 

Legal Practitioner 3m 

Medical Practitioner 3 

Scientist/Researcher/ | — i 
Teehnnlnoist l—il 


TELECOMMUNICATIONS BUSINESS SERVICES 

Facsimile Equipment □ Legal Services Q 

Telecommunications n Management Q 

Systems or Equipment U Recru]tment Q 

'“"ESQ Management Tiaining Courses GU 

Company Aircraft □ TiaVel □ 

Company Vehicles □ Conferencesffixhibitions U 

Plant and Equipment □ PR/Marketing/ pi 

Scientific Instruments 3 Advertismg/Mhrkct Research ^ 

Raw Materials 3 Courier/Freight Services 3 

Business Premiss/ r i Information Sendees 3 

Industrial Site Selection 1— d „ . „ . , — , 


Management 1 


Systems or Equipment 
OTHER EQUIPMENT 


FINANCIAL SERVICES 
Domestic Banking 3 

International Banking 3 


Data Management 3 
None of these 3 


Under US $15,000 3 
$15,000 to under $25,000 □ 
$25,000 to under $40,000 0 


$40,000 to under $75,000 QU 
$75,000 or more 3 


Canada 3 
Latin America 3 


Fiance 3 Canada 3 3 

Germany 3 Latin America 3 Australia 3 

Italy 3 New Zealand 3 

gp ain 3 asia/pacific Other Asia/Pacific 3 

Switzerland 3 Hong Kong 3j middle EAST 3 

Netherlands Q Singapore 3 “ 

Scandinavia/ rn Q ' A™ca \_J 

Finland U _ . p=j , — 1 

British Isles Q Taiwan U ELSEWHERE U 

»-*GU 

OtherEastem rn Malaysia [A ■ 

European Countries I — zJ — 

7a. For business trips, which class of air travel do you 
usually use? sh0RT J£ul trips long-ha^ trips 

(Up to four hours) (Over four hours) 

First Class 3m dm 

Business Class 31 3 

Economy 3 3 

No such trips 3 □ 

7b. Do you belong to an airline’s executive/frequent 
flier club? Yes □ No □ «^tdqs , 

7c. If yes, which one(s) do you mainly use? 

(Please write in) 

__ 2. — 3. 


18. Which, if any, of these cards do you use? 

(Please check as many as apply) 


24. Does your company operate outside the country in 
which you are currently based? Yes 3 No 3<i 


25. How many people does your company employ . . . 

Under 10 10-49 . 50-249 250-999 1000-4999 5000+ 

a)in $s$ 3 □ □ □ □ a 

b) worldwide? 3 3 3 3 3 3 « 

26a. Which of the following international activities do yon 
carry out in the course of your work? 

I purchase goods/services from | I - I man^the company > , 

suppliers in other countries L-u finances at an international level LaJs 


□ r ■ I . 4J-1 VU4V4 wuuuuxwo 

DinersChib3U I influence strategic decisions I raise capital or invest funds Q 


Access/Eurocard/Mastercard 3 Visa Gold/Premier 3 
American Express Gold/Platinum 3 Visa/Carte Bleue 3 

American Express Green 3 None of these 3 

19a. Which, if any, of the following types of investment do 
yon or members of your household have? 

Stocks and Shares 3w» Life Assurance Policies 3w» 
Bonds 3 Derivative Products 3 

Government Securities □ Gold/Precious Metals Q 

BffflfflQ 

“^assjQ 


A UlUUCUbb aUOIAKU. uua - mtamn^nniH.. 4l 

about the company's n mtemationally 

international opeikions i —21 None of these 3 

26b. In which of the following countries/regions are you 

involved in the course of your work? Africa 3^ 

Western Europe 3U« Japan 3 

Other Europe 3 South East Asia 3 

USA/Canada 3 Other Asia 3 

Latin America 3 Australia/New Zealand 3 
Middle East 3 None of these 3 


Other 3 

19b. What is the approximate total value of the above and 
any other investments (excluding your main home) 
owned by you and members of your household (in US $)? 

Under US $50,000 3 $500,000 to under $1 million 3U 
$50,000 to under $100,000 3 $1 million to under $5 million 3 
$100,000 to under $250,000 3 us 55 1111111011 OT more Cl 
$250,000 to under $500,000 3 


►Mow,- 


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INTERNATIONAL HERALD TRIBUNE 


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T 'HE International Herald 
Tribune has donated around 
$65,000 to charity, on behalf 
of our readers, in connection 
with periodic reader studies 
like this one. 

P LEASE help us continue 
this important program by 
completing and forwarding 
the questionnaire on the 
reverse side of this sheet. 

Our warmest thanks for 
your help. 


FOURTH FOLD 



□ Q 








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International Herald Tribune* Saturday-Sunday, April 23-24, 1994 



THE THIS INDEX: 110.961^ 

wSSBESS a»=sa 



IV D 

1993 

J 

F M 

A 

1894 

■ -Asta/Paciflc 


Europe 


^ppio*- wefghflrtg: 32% 
Ctosa: 128^6 Pi«yj127D0 
150 


Apprat waghfing: 37% 
Close: 11244 Pievj 11125 

Hi - * -i: 

IB 

111 


” N D J F 
1993 

M A 
1994 

N D J F 
1993 

M A 
1994 

M North America 


Latin America 


Approx, weighing: 26% 

MU 

Approx weighing: 5* 

VIS 

0088=92^3 Prev J9SL94 
150 

Si 

Close 106.43 Pm: joy 

5 022 



The Mm hacks U.S. dbCsr mIks of stocks « Tokyo, Now Yoric, London, and 
Argentina, Austrata, Austria, Botglun, Brazl, Canada, Ctila, Denmark, Rniaitd, 
ftanea, Gamany, Hong Kong, ttafy, Mexico, NstfiertaKta, Nw Zdofand, Nonaay, 
Singapore, Spain, Smdan, Swttzariand and VanomMa. For Tokyo. New Yah end 
London, the Mm h composed at to 20 top Issues In tsrmsof ma r ket n p klota 
atondse to isn top stacks am tredesd. 


1 Industrial Seclors S 


Ri 

doaa 

Pnc 

does 

_% 


M 

dm 

Put 

dose 

* 

ttaag* 

Energy 

110.61 

106.61 

+154 

CapBal Goods 

11153 

11061 

4053 

unties 

119477 

11628 

+2.40 

Raw Materials 

12022 

119.75 

-»059 

Rnancfl 

115.43 

114.06 

+120 

Consumer Goods 

9789 

9656 

4053 

Serrfcea 

11656 

115.64 

+080 

HecaBanaon 

124.75 

122.19 

42.10 

For mam information about the todex. a booklel Is avtdbUe tree of charge. 

Wrte to Trb Index. 181 Avenue Chartes de GbuOh, 92521 NeuHy Cedes, Francs. 


Europe’s Food Firms Look Abroad 

Third World Offers Growth and Strong Brand Loyalty 


By Erik Ipsen 

International Herald Tribune 
LONDON — Europe's food companies, 
faced with slow-growing markets, a plethora 
of competitors and a new, troubling slide in 
consumer loyalty to oncecherishra brands, 
are turning their attentions and their capital 
elsewhere as never before. 

Far from the battle lines in the developed 
markets of Europe and 'North America, food 

S ts like Nestfe SA and the British-Dntcb 
ever Group are dunging into the so- 
called enraging markets of Latin America 
and the Aria-Pacific region with a speed some 
analysts say borders on desperation. 

“Growth will always be harder to come by 
in Europe and America,” the Unilever chair- 
man, Sir Michael Ferry, recently said. “That 
is why oar investment will be focused on 
those rest-of-worid areas." 

For Unilever and others, “rest-of-worid” 
used to stand for markets out somewhere 
beyond the developed markets. They were 
not exactly ignored but they never really got 
to the top of the corporate priority list other. 
That has chanj»i»H 

“Clearly what the new emerging markets 
offer stands in pretty sharp contrast to the 
problems these companies face in their devel- 
oped markets,” said John Elston, an analyst 
with James Capd & Co, the London broker- 
age bouse. 

In addition to slow-growing economies 
and even dower-growing populations in Eu- 
rope, food companies face an escalating 
threat from so-called private labels. Store 
brands now account for 35 percent of pack- 
aged food sales in Britain and 20 percent on 


the Continent, and the numbers are growing. 

Enraging markets have, in contrast, long 
offered faster growth and far less competi- 
tion. In the past those those attractions were 
Largely offset by the high risk factors, and in 
many cases by their lad: of a critical mass of 
middle-dass consumers. 

In recent years, just as the dwindling of 
expropriations, nationalizations and even 
revolutions has lessened the perception of 
risk, the explosion in consumer purchasing 

In Europe, food 
companies face an 
escalating threat from 
private labels. Emerging 
markets, in contrast, 
offer faster growth and 
less competition. 

power in much of the developing world has 
heightened the perception of opportunity. 

“China used to be seen as having a much 
higher risk factor than h does now ” said 
John Warren, group finance director of the 
British cookie and snack maker United Bis- 
cuits PLC. "The opportunities in the Chinese 
market are absolutely enormous.” 

United Biscuits opened its Erst, small 
cookie factory in China in 1990. After two 
expansions it now has a capacity of 20,000 
tens of cookies a year. Mr. Warren said he 


foresaw that expanding to 200,000 tons in as 
tittle as Eve years. 

Nestle meanwhile has opened three fac- 
tories in China since 1990 and plans to open 
one more a year for the rest of the decade. 
Driven by rapid expansion in China and 
elsewhere. Nestle stands on the brink of 
breaking out of its decades-old pattern of 
deriving 80 percent of its revenue from the 
developed economies and 20 percent from 
the rest of the world. 

“It is quite dear now that this 80-20 bal- 
ance mil change,” said Francois Perroud. a 
Nestlfc spokesman in Switzerland. “The 
growth in population and in purchasing pow- 
er in the emerging markets has opened new 
opportunities for a company like ours." 

In Europe, many food companies must 
deride whether or not they should swallow 
their pride and use their excess manufactur- 
ing capacity to make products that wifi bear 
not their labels but those of French. German 
and British retailers who are their cut-price 
competitors. 

Virtually all of them have gone that route 
at least part way in an attempt to soak up 
spare capacity and thus make their plants 
more efficient. The problem is that at the 
same time it erodes the distinctiveness of 
what they sell under their own labels. 

“In the Old World, consumer knowledge 
seems likely to grow more quickly than pur- 
chasing power for the foreseeable future” 
said Les Pugh, an analyst with Salomon 
Brothers Inc. in New York. As a result, he 
forecasts a steady erosion of brand loyalties 

See FOOD, Page 9 


Clinton Nan les 
2 Moderates to 
Federal Reserve 


Conflicting Results at Mobil and Exxon 


Clntofna t tawlHomM Trfcuno 


Compiled hr Ow Staff From Dispatches 

NEW YORK — Exxon Corp. 
said Friday its net income fell 2 
percent in the first quarter because 
of falling oQ prices, but MobQ 
Corp. said earnings were up 9 per- 
cent as cost-cutting measures 
helped offset the drop. 

At Exxon, profit fell to $1.16 
billion, or 92 cents a share, from 
$1.18 billion, or 94 cents a share, in 
the first quarter ofl 993, as revenue 
slipped S percent, to $25.96 billion 
from $27 J6 bflticm. Exxon’s spend- 
ing on capital investment and on 
exploring for new energy deposits 
was little changed from a year earli- 
er at $1.58 bflhon. 

The energy company’s profit was 


better than the average Wall Street 
forecast of around 83 cents a share. 

First-quarter earnings from 
chemicals rose 21 percent, to $149 
milli on from $123 miltinn, as im- 
provements m major markets led to 
increased demand and higher mar- 
gins. Exxon said. 

Exxon’s production of crude ofl 
averaged 1,749,000 barrels a day in 
the first quarter, up from 1,676,000 
barrels a day the previous year. 

Its worldwide natural-gas pro- 
duction of 7,294 milli on cubic feet 
a day was up 3 percent 

Exxon said its worldwide pro- 
duction earnings had been hurt by 
crude-ail prices, which ended tije 


quarter just above $13 a barrel and 
were below first-quarter 1993 
prices by an average of more than 
54 a band It said exploration and 
production outside the United 
States had brought in $590 million, 
compared with $668 millio n 

Within the United States, Exxon 
said, earnings from egrforation 
and production rose to $245 mil- 
lion from $228 million, reflecting 
the improved natural -gas market 
and lower operating expenses. 

Despite the drop in net, Exxon 
shares rose 50 cents to $63 on the 
New York Stock Exchange. 

Hit 
•Nc 


er natural-gas prices in 
America also were behind 


Mobil’s profit gain, to $535 milli on, 
orSlJl a share, from $490 million, 
or $1.19 a share, a year earlier. 
First-quarter revenue at Mobil 
inched up to $15.12 billion from 
$15.06 billion. 

Chairman Lucio A. Noto of Mo- 
bil also credited increased natural- 
gas production, improved sales vol- 
ume, cost-cutting programs and 
lower financing costs. 

Earnings in its chemical division 
fell 29 percent, to $15 million from 
S21 milli on, primarily on lower 
profit margins for polyethylene 
products, which are in oversupply 
worldwide, Mobil said. 

Mobil stock rose $2^0 to $78,625. 

(Bloomberg, Knight-Ridder) 


By Lawrence Malkin 

International Herald Tribune 

WASHINGTON — President 

Bill Clinton began putting his stamp 
on the Federal Reserve Board on 
Friday with the nomination of two 
academic economists who are con- 
sidered neither likely or capable of 
derailing Oyrinnan Alan Green- 
span’s plan of gently braking the 
U.S. recovery by tightening short- 
term interest rates. 

He named Alan Blinder, a 
Princeton University professor 
who is a member of his Council of 
Economic Advisers, as vice chair- 
man of the board, and Janet L 
YeOen, a professor at the Universi- 
ty of California. 

{Mr. Blinder said after his nomi- 
nation (hat he saw no sign that 
inflation was gathering steam, 
AFP-Extd News reported. “The 
signs of an imminent acceleration 
of inflation just aren't there,” he 
said. “You have to look pretty hard 
and be pretty creative to find any- 
thing that would indicate any size- 
able increase in inflation over the 
next couple of years.”] 

Ms. Ydlen described herself as a 
“nonidedogical pragmatist” and 
said the Fed’s policies “should in- 
spire the confidence of the business 
community, creating a favorable 
environment for investment and 
long-term job creation.” 

The nominees, who now face 
Senate confirmation hearings, will 
fifl two vacancies on the seven- 
member board. They win represent 
an even-smaller percentage of the 
12 members of the Federal Open 
Market Committee, which adds 
five regional bank presidents for its 
meetings every six weeks to set the 
course of monetary policy. 

Robot E Rubin, who as White 
House economic coordinator 
played a principal role in the 
choices, said he was sure “the bond 
market will be very happy” about 
the nominations, and indeed inves- 
tors hardly reacted because the two 
names had been widely leaked as a 
way of testing the markets, which 
have been nervous since the Fed 
began raising rates on Feb. 4. 

The yield on the 30-year Trea- 
sury bond was a bit higher at 723 


percent, and stocks showed little 
change. 

Mr. Blinder, one of the academic 
economists who advised Mr. Gin- 
ton during the election campaign in 
1992, joined the Council of Eco- 
nomic Advisers as its macroeco- 
nomic specialist after Mr. Clinton 
became president. He has largely 
been responsible for the White 
House economic forecasts, which 
have generally proven correct to 
the percentage pant or closer, in 
contrast to those of the previous 
Republican administrations, which 
often overstated growth forecasts 
(ogive a rosy picture of revenues. 

Mr. Blinder has accepted the lack 
of stimulus implied by Mr. Clinton’s 
deficit-reduction campaign and 
made no attempt to argue for an 
extra push when the recovery was 
slow in defivoing new jobs last year. 

Lyle Gramley, a former Fed gov- 
ernor who is the economist for the 
Mortgage Bankers Association, 
said: “I don’t expect these people 
to go over there with a bias toward 
inflation. Both are middle-of-the- 
road Democratic economists.” 

Maria Fiorini Ramirez, who 
heads her own Wall Street consult- 
ing firm, said she believed the Fed 
world keep to its present course 
regardless of the arrival of the two 
appointees — the first appointed by 
a Democratic president smee 1980. 

Few economists, mriurfwig Mr. 
Blinder, believe the old tradeoff be- 
tween unemployment and inflation 
has much meaning any more. The 
nominees could help prevent the 
Fed from overdoing its pbticy of 
slowly raising rates this year, but 
they do not have tbc clout to stop it 
even if they wanted to. 

As vice chairman, Mr. Blinder 
will be more involved in the daily 
administration of the vast Federal 
Reserve System and less in second- 
ing Mr. Greenspan on policy ques- 
tions than his tide implies. Althoi^ 
it would also seem to put him in ime 
to succeed Mr. Greenspan when the 
chairman's second term expires in 
March of the election year of 1996, 
there is tittle historical precedent for 
that, especially since the head of the 
nation's central bank has to be ac- 
ceptable to Wall Street. 


ECONOMIC SCENE 


America — Growing Apart 


By Lawrence Malkin 

International Herald Tribune 

N EW YORK— America’s recovenrmay 
be the envy of the world, but tike the 
country itself, growth in the land of 
opportunity does have a dark under- 
ride that could be its undoing if chronic social 
problems are not addressed, 

Thisis the mirror image of what troubles Europe 
as its industrial giants struggle to stim down along 
American tines and disentangle themselves from 
the Continent’s social safety net. But it also pro- 
vides a preview of some of Europe's own slow- 
growth problems, because such reforms will cut 
consumer incomes and spending. 

S tellar earnings repots now co min g from core 
U.S. ind ustrial companies testify that the combi- 
. nation of the past year’s increases in productivity 
and decreases in interest rates are finally paying 
off, at least for the top ecbeJonin the country. 

But the problems that remain are more tena- 
cious — health care, education and welfare, and 
the old bugaboo of the federal budget deficit. To 
his credit, all three are among ftesidmt Bill Clin- 
ton’s top priorities, but they are far from solved. 

Robert E Rubin, Mr. Ctinton’s economic coordi- 
nator, warned Friday that if these problems are not 
T-y-triprf , -They will coflide with our economy. 

David Wyss, research director of DRUMcGraw 
jfilL lists them as the three principal crises facing 
the American economy and warns that unless tne 
first two are solved, federal borrowing wfll start 

That would drain savings and poll down the 
capital investment on which some erf the more 

tial time bombs. Some of the others are&efcng 
away in the form erf relatively low earnings by 


workers and, for the first time, middle managers — 
the source of the Keynesian consumer demand 
that traditionally has fueled American recoveries. 

“We are in an exciting, powerful and very im- 
portant transition to an investment-led recovery 
Stephen S. Roach of Morgan Stanley & Co. said. It 
is being paced by a 28 percent increase in business 
investment in computers, but tins classic Wall 
Street optimist warned that “the outlook is fragile” 
precisely became of the lean-and-mean corporate 
r e or ganizations that have done so modi for the 
productivity and profitability of corporations 
while doing so tittle for their workers. 

This time the consumer squeeze cots across all 
classes except the very rich, who have been only 
slightly singed by Mr. Clinton's deficit-correcting 
tax increases. A few statistics about productivity 
and the labor force: 

• Productivity gains accounted for almost 90 
percent erf the economic growth daring the first 
three years of tins extraordinarily sluggish recov- 
ery. In previous postwar recoveries, productivity 
accounted for just over half, with the remainder 
coining mainly from consumers as incomes rose. 

• Real, nr mflarion -adjnstcd, weekly earnings of 
workers dropped 1 1 percent during the 1980s, but 
consumer spending as a proportion of the whole 
economy rose as consumers went into debt. That 
cannot go oil, economists agree. Even after three 
years or working down their debts, interest pay- 
ments by American e nn s n ni grs still take 16 percent 
of what they earn. 

• For the first time since such statistics have 
been kept, white-collar workers now account for 
m ore of the unemployed than do blue-collar work- 
ers. Moreover, staff cuts by U.S. corporations 
came to a record 600JXX) last year — the titird year 

See SOCIAL, Page 8 


G-7toTalk 
About Russia 
AndRates 

Agence France- Presse 

WASHINGTON —Recent rises 
in long-taro UJS. interest rates, un- 
employment in Europe and Rus- 
ria’s economic troubles are on the 
agenda for Sunday’s meeting here 
of finance ministers of the world’s 
leading industrial countries. 

Treasury Secretary Lloyd Bent- 
sen said tins wedc that he feared the 
rise in interest rates this year would 
constrict economic activity and 
slow the U.S. recovery. 

He said he would stress to his 
colleagues in the Group of Seven 
that the American economy’s re- 
cent vigorous growth had not 
caused inflation to pick up and that 
the rise in rates must be “viewed 
against these good fundamentals.” 

Mr. Bentsen also said unemploy- 
ment in many European countries 
was “disturbingly” high and still 
rising and said there was still room 
for lower interest rates in Europe. 



meeting until rnoay, 
announced that Finance Minister 


Hirohisa Fujii would come to 
5 governing co- 


"UJU WO! 

Washington after the _ 
alition decided to nominate For- 
eign Mariner Tmtomu Bata as its 
next prime minister. 

The ministers and central bank 
governors will also be meeting with 
Russian officials to discuss Mos- 
cow’s economic progress and its 
current problems. 


CURRENCY & 


Cross Ratos 


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The cai*d 
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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24, 1994 


MARKET PiARY 

Oil Stocks’ Rise 
Fails to lift Dow 


NEW YORK — Oil-company 
stocks rose Friday as a result of 
higher erode prices and relatively 
strong earnings, but they were offset 
byslumping utility and bank stocks 
as interest rates kept moving higher. 

The Dew Jones mdusmafaverage 
fell 3.86. to 3,648.68; the average 
lost 1179 points for the week de- 
spite a 53-point gain on Thursday. 

Among smaller shares, the Nas- 
daq Composite Index gained 3.83. 

U^S. Stocks 

to 72156, boosted by gains in Am- 
gen and technology stocks. 

Almost 11 stocks advanced for 
every 8 that fell on the New York 
Stock Exchange, where volume 
dropped to 295.7 million shares 
from 378.7 million on Thursday. 

Texaco, Chevron and Exxon 
efimbed as Texas crude oQ for June 
delivery rose 47 cents a barrel to 
$17. IQ, its high since Nov. 4. Exxon 
and Mobil also reported better- 
thas-expected earnings. 

Hie main catalyst for the rise in 
the oil price was dvQ disturbances 
at Nigeria’s Forcados field, which 
forced the operator. Shell Petro- 
leum Development Co_ to declare 
force majeure. 

Among oil companies, Mobil 
rose 2K to 78%. The company said 
first-quarter net income rose to 


Dollar Slips Slightly 
On Eve of G-7 Meeting 


AFP-Exiet News 

NEW YORK — The dollar soft- 
ened slightly against major curren- 
cies on Friday on the view that the 
Group erf Seven finance ministers' 
meeting this weekend would not 
decide to support the currency, 
dealers and analysts said. 

The dollar closed Friday at 

Foreign Exchange 

1.6882 Deutsche marks, down from 
a closing rate on Thursday of 
1.6905 DM, and slipped to 103240 
yen from 103.680 yen. 

“People here had expected the 
G-7 to at least provide some tacit 
support far the dollar against the 
yen,” said Win Thin, analyst at 
MCM Currency Watch. He added 
that the dollar fell after U.S. Trea- 


For investment 
information 

Read 

the MONEY REPORT 
every Saturday 
in the IHT 


sury Secretary Lloyd Bemsen said 
no statement on foreign exchange 
would come out (rf the meeting. 

“That statement made dear that 
there would be no such support, 
leaving the market to test the 
downside of dollar/ yen,” he said. 

A Banque Nationale de Paris 
dealer said that the dollar has 
weakened against the mark and the 
Swiss franc on the back of its fall 
against the yen. 

“The doHar/yen led dollar/ mark 
higher earlier in the session, but we 
seem not to be e xp e c t in g much to 
come out (rf tbe G-7 that would 
benefit the dollar, so we came back 
and tried the downside,” he said. 
“Technical trading is dominating 
market activity rather than any 
fundamental view.” 

The mark weakened slightly 
against other major European cur- 
rencies and against the yen as prof- 
it-takers cashed in on the mark’s 
strong recent gains. 

Against other currencies, tbe 
dollar slipped to 5.7860 French 
francs from 5.7960 francs and fell 
to 1.4325 Swiss francs from a close 
of 1.4335 francs on Thursday. The 
pound, however, fdl to 51.4895 
from $1.4910. 


vie AjJOCTCrtwJ 


51JI a share from SI. 19, above 
analysts' estimate of $1.12 a share. 

Exxon gained Vi to 63. The com- 
pany said net income fdl to 92 cents 
a shire from 94 cents, surpassing 
analysts’ forecast of 83 cents, 

Texaco surged life to 65 and 
Chevron added W to 90‘A. 

Traders said the bond market is 
still finding its feel after the Federal 
Reserve Board pushed up the inter- 
est rate on overnight interbank loans 
on Monday to 3.75 percent, the 
thud increase tins year. Yields on 
30-year Treasury bends rose to 723 
percent from 72f percent. 

Sma ll increases in interest rates 
contributed to weakness in utility 
and bank stocks, traders said. Both 
groups are considered to be sensi- 
tive to the direction of rates. 

Pacific Gas & Electric fell 1% to 
27% and Northern States Power 
dropped life to 42%. 

BankAmerica dropped 1% to 44 
and Chase Manhattan fdl 1 to 33K. 

Am g en , a biotechnology compa- 
ny that gained 4% to 42, reported 
stranger-than-expected first-quar- 
ter earnings of 66 cents a share, up 
from 55 cents a year ago. 

Zebra Technologies collapsed 6ft 
to 26%. Tbe makes' of computerized 
label and ticket printing systems 
earned 35 cents a share in the first 
quarter, up from 30 cents a year ago 
but beneath analysts’ estimate of 39 
cents a share. 


j 1 : * j '* v*i ■ 


Dow Jones Averages 


Om hw urn Lotf On. 

Indus 3443.95 3464.14 344064 364868 —386 
T rare 158 7J* J SUM 1582JU 15KJB HUB 
UN 201.23 201.36 1«J2 199.25 —1.91 
Comp T29&U7 1295J0 12BBJ0 129Z49 *058 


St— Jwd A Po or ’s Indues 


Industrials 

Trans. 

Utilities 

FJkzko 

SPOT 

SP 100 


HM> Law 
52189 51019 
mw 387 JH 
16031 161J1 
MM 43M 
449.96 447.16 
41527 41229 


Close Ctrve 
519.09 4-007 
38936 +115 
16U1-100 
4160 4-025 
44763 — 1.10 
4T22S — 170 


■aw 

. V- ~<k 'C'*' -I - 
.'SB® 1 - 

< ',-Ktr.: i '*■:*«. li 

• ------ '• X". 

mmm® 


MYS£ Mosf Actives 


VoL Kotl Lam urn CDs. 

+3*. 
—19k 
*46 

— zw 

— Vfc 
*96 
—1 



MYSEIndoaw 

Man Low Last Cb*. 

Cantata** 24074 367.58 347.95 -OZJ 

irWustrMS 304.19 30180 30137 *13? 

Tramp, 246J0 24&4S 24133 *JJt 

many 21079 zum 21436 — zab 

Rneneo 209.16 20012 208J1 — CJ1 

NASDAQ Indoxw 

Mats Low Lot Os. 

Compostr 72X40 720J8 722L42 -*168 

Industrials 751-67 74945 751.67 +192 

Banks 68196 63Q8S 68123 *266 

towrpnc* 88253 87740 8053 +956 

Ftacnes B9406 89166 89130 +013 

Tramp. 7300 736.11 73042 *<90 

AMEX Slock Index 

Fflafe Low Lad Cbg. 

43X36 431.13 43X31 +118 

Dow Jones Bend Averages 


NASDAQ Most Actives NYSE Diary 


VOL Htafe 

1 7Vt 

6W» 


Total Issues 
New Highs 
NkwLows 


TetCmA 

USMtas 

OeUColr 

Oractes 

OnctPi 

BiaTcG 

MUcsRS 


AMEX Most Actives 


OievSRs 

ENSCO 

ExOLA 

Hon wIB 

AmeM 

TexMer 

EchoSav 

BATS 

IvaxCp 

SPDR 


269k 249k 
: 3H 

Ilk 1 

Vi 

, 71k 7 

13’A IOYj 
101k VM 
13'A 13 Vk 

25** 25 
' 45V* 44W m 


NASDAQ Diary 


Advanced 
Declined 
Unch an ged 
Total Issues 


AMEX Diary 


Declined 
Itachonoed 
Total issues 
NewH&a 
New Lows 


1273 1573 

935 704 

574 512 

2782 2789 

15 12 

75 94 


169$ 1144 

1394 1219 

1901 1924 

4990 4987 

40 2> 

111 155 


Marfcot Safes 

Today 

4 am 

NYSe 287.18 

Amu 1641 

Nasdaq 27147 

In millions. 


Commodity 
Aluminum. Ito 
Coffee, Brat, lb 
Copper electrolytic, lb 
Iron FOB. Ian 

Sliver, troy « 

Steal (sertta), ton 

Zlnclb 


EUROPEAN FUTURES 

Metals 

Om Previous 

«d Aik aw Att 
ALUMINU M (H toft Crude) 

Mtan per ,25050 1251 JO 

RSUnl 1*3 12 KJ 0 T 274 J 0 127 X 00 

COPPER CATHODES [HM Crode) 

"wnS^BIAOO 1 M 1-50 IMA 
Forward 1 91 X 50 191600 186 X 00 1 B 8580 

LEAD 

B^aperm^ctau 42650 

Foowrt 449 JO 45000 MOM 44 UB 

NICKEL _ 

Pci tors per metric too 

Son} S 23 KD 5240 J 0 52 S 5 JOO 521500 

RaWd 5305 X 0 531000 J 28 QJ 0 529000 

TIN 

Dollars per metric hm 
Srt 531 CLOO 5315 X 0 528680 OTOJO 

pgrward 537 QXR 5375 X 0 534 SJI 0 535 OJ 0 

ZINC (Special Htou Grade) 

91000 9 OBJ 0 O 901 JO 
Forward 931 JO 932 JOO * 2 U 0 ^OM 

HnancU 

HW LOW Ctosc Ctamge 

3460 NTH STERLING (LIFFE) 

ONJ 80 • Ptl OMM pet 

JOB 9465 94 J? 9443 + 044 

Sen 9639 9631 9634 +<UM 

Dec 93 JM 9156 9190 + 0 JH 

MOT 9341 9131 7125 +004 

JOS 92 J 7 9177 V 2 J 3 + 0 X 77 

Sea 9 K 3 9234 9239 + 0 J 3 * 

DBC 9111 91.96 92 X 6 +Q. 1 Q 

Mar 9131 91 J! 9 LS 1 + 0.13 

9140 91-53 9139 + 0.10 

S«p 9 L 45 9137 9144 +111 

Dec 9131 9134 9131 +611 

Mar 91.15 91 X 19 91.15 + 0.18 

Est. volume: 54312 . Open tot: 479.966 
MWNTH EURODOLLARS CUFFEJ 
Si RADoa-ab of HO pd 
Joe 9536 9536 9536 + 032 

Sep Wt 94J7S 9 L 79 + 0 X 0 

Dec 9+23 9431 9439 +X 13 

MOT H.T. H.T. 94 X 17 + 0 .U 

JOB N.T. N.T. 9184 +029 

see N.T. N.T. 9162 + 034 

EStvotume: TlLOpen tot.: 101186 
MNONTH EUROMARKS (LIFFE) 

OMI inRHOB - PtS OMM pet 
Jan 9477 9473 9473 + 0 X 0 

Sep 94 93 9487 9485 Unch. 

Dec 94 JB 9477 9481 481 

Mar 9487 9475 9475 -033 

JOB 9487 9654 9659 -032 

Sep 9445 9439 9439 +1101 

Dee 9424 9420 9420 + 0 X 0 

Mar 94 X 19 9403 9483 +QXQ 

Joe 93.97 9 X 91 93.91 + HO 

SkP 9155 9379 9079 +603 

Dec 9174 9171 9167 -031 

Mar N.T. N.T. 9160 +034 

Est volume: 144 JM. Open totj 979739 . 
3 -MONTH PI BOR (MATIF) 

FP 5 mfflton -pts h io« pet 
Jm 9631 9423 9430 +088 

Sep 9430 9441 9445 + 088 

DOC 9448 UM 9485 +106 

Mar 9482 9482 9438 + 0 J» 

Jan 9617 9609 9416 +087 

SCP 9392 9184 9189 + 080 

Dec 9174 9165 9172 + 0.12 

Mar 9160 9153 9360 +611 

Esl volume: 577 * 7 . Open tot.: Z 2 X 4 T 9 . 
LONG GILT (UFFB) 

BAUM - pis A Mads of 180 Pd 
XU 107-30 106-24 107-08 ++24 

S«» N.T. NT. 106-11 + 0-24 

Est volume: GUI 5 . Open InL: 137616 
GERMAN GOVERNMENT BUND CUFFE) 
OM 35 M 88 - Pts Of 190 PCt 
Jen 9 S.T 7 9674 9482 +022 

Sep 967 S 9450 9450 +021 

Est volume: H 1 U 19 . Open tot: 200576 
IB- YEAR FRENCH GOV. BONDS (MATIF) 
FP 58 O 600 - pts otHO pet 
JM 12180 12068 12134 + 1-26 

Sep 120.45 119.92 12082 +L 24 

Dec 11962 119.10 11976 +L 26 

Eel volume: 237.100 Open InL: 140017 . 


Industrials 

Kto* Low Lost Settle Cb*e 
GASOIL (IPE) 

U8. dollars per metric len+ets of MB tone 
May 151 JS 14975 151J0 15130 +200 

JtoP 15050 14830 15025 15025 +250 


— HtoB Lew Last Sdtl* Ort» 

M 15073 14X75 14075 1507S +275 

Um 132JJ0 1EL25 15280 15200 +230 1 

i«P 1 51 PP 15175 15273 15380 +2S' 

iS 1SSJB IMS? U585 15600 +200 

lor NT. NT. N,T. 154.75 +230 

w i _gy 157J0 15880 157JS +m 

Sn 15650 14*94 15835 15650 +U0 

SS Sm SS its }&S +tn 

Bar N.T. NT. NT. 15735 +L50i 

Est volume: 16837. Open InL 97663 I 


BRENT CRUDE OIL (IPE) , 

UJ. Sonars per barreMotsal 1809 barreU 

Jua 1575 1536 1175 1574 +05) 

Jel 1551 15.13 1567 1564 + 0S 

A US 1561 1584 1560 J560 +U2 

Sep 1538 1504 1539 1534 +6» 

00 15J0 U93 1530 1539 +OB 

Nov 1613 1672 1S-T2 1539 +020 

Dec 15.15 1515 1513 1531 +619 

Jan NT. NT. NT. 1534 +031 

F«B NT. N.T, NT. 1536 +020 


I T to T M iW 

1530 1529 +032 

15T2 llS +020 


eor P.H 14/4 hi/ lap t w 

Sec 1513 1515 1513 1531 +619 

In NT. NT. NT. 153* +621 

=*& NT. N.T, NT. 1534 +030 

Est. vafamMX 65851. Open tot 156422 


Stock Indexes 

IMP dew CtoPWt 

FTSE no (UFFE3 

OS per bxtec potot 

Jun 31548 31250 3100 +250 

Sep J15M 31598 31598 +250 

Dec NT. NT. 3MU +258 

Est. volume: 11856 Open bit.: 56147. 

CAC 40 (MATIF) 

FF299 per index MM 

Apr 214580 71 1780 214580 +6600 

Mar OMM 2TT780 214380 +64 S3 

JH 2127X0 209880 712780 +4480 

Sep 714180 213160 714280 +4S80 

DCC NT. NT. 717380 +4480 

Mar 220180 219689 220280 +6280 

Est. volume; 6V43Z. Open bit: 74899. 

Sources: Mailt. Associated Press. 
London Inn Ftnandoi Mures e xch ange 
inn Petroleum ExDange. 




IRREGULAR 

Am AtftRt Term «5 _ 82 s* 5-23 

Am Adi Rt Term 94 . 83 5+ 5-25 

Am Adi Fa Term 97 . 8375 54 5-25 

Am Ad I Rt Term 98 _ 84 5-6 5-25 

Peoples BkCT . .12 5-1 5-14 

Thomson Advlsorv _ 60 5-1 5-10 

INCREASED 

Doaepol Group Q 8* +27 5-10 

INITIAL 

Nil S pcut G ran . 8 M Ml 

REGULAR 

O 81 4-30 5-13 

O 825 5-4 5-31 

Q XS6 5-31 +15 

a JH 52 5-14 

Q 34 56 5-15 

8 .15 5-4 +1 

.11 52 514 

O JH 51 515 
fl 85 M HI 
Q .12 6-24 7-« 

Q .14 52 513 

A M 54 520 

3 37 51 515 

87 53 510 

Q 31 514 531 

Q .15 52 513 

Q 8 HD 520 

M 84 55 516 

8 .15 515 7-1 

89 55 519 

Q 82 510 52S 

Q 54 52 513 

Q 38 4-29 513 

Q .7925 55 520 

Q .175 55 520 

Q .17 5Z7 7-1 

Q I* 513 51 

. 85 54 52J 

Q 32 51 515 

Oft O 35 52 520 

O 815 510 531 
Q 81 55 520 

Q 84 7-1 51 

O 335 52 514 

[o-aonont; shoaraMe to Canodtan tends; m- 
I monthly; Quarterly; s-semLenn u ol 



U.S./AT THE 

A U.S.-Canadian Quarrel 

WASHINGTON J 

baricy as of 

United Steles said weight 

the — « days., ** a S* °< 

grain at unfairiy low prices in thcUS. 
** taontole 

<>' cLda said: “We’re going to fight 

rrCSffiSftdded. “The US. doiaonismtom-fit^ 
bo.mto 

hakov eoods are on a tentative C a na di an list for retaliation. 

the United States arc cad i otfrartri tawj MdogjM 
with annua! commerce of about X2I0 U-S.^^smpUo a 

t«nn mitKn n Farm trade between the two exceeds $12 bflhon. 

Mr. Espy said America notified the General 
Trade ^Geneva of the U.S. intent. This triggers a 9(Vday period to try for 
a compromise. (Reuters, Bloomberg } ; 

Unisys Reports Big Drop in Revenue 

BLUE B ELL. Pennsylvania (Reuters) — Unisys Cap. on Friday 
reported a steep drop in first-quarter revenues, sending the computer 
maker’s stock down nearly 20 percent despite an overall gam moperating 
profits. . . 

The company is having trouble shifting from mainframe computers to 
sendees and the result has been a swift decl ine in sales. 

Unisys posted net operating income of $67.7 nuDum, or 21 cents a 
share, in tne first quarter, op 19 percent over $5 6.8 miHion, or 16 cents a 
share, a year ago. But sales unexpectedly fefl to $1.69 trillion from $1.91 
billion a year earlier. 

Discount Wars Slice Apple Profits 

CUPERTINO, California (AFP) —Apple Computer Inc. has reported 
a sharp drop in Mming s in the first three months of 1994 despite 
in CTmwyj revenue as discounting cut into tbe computer maker's profit 
margins. 

Earnings for the company's second Quarter, ending April 1, were 517.4 
□nDioo, or 15 cents per share, down from $110.9 milli on from the like 
period a year earlier, the company said late Thursday. 

Revenue rose 5 percent, to $2.07 billion, compared with $1.98 billion in 
the corresponding 1993 period. 

Kellogg Nets Record $183.9 Million 

BATTLE CREEK, Michigan (AP) — Kellogg Co. said Friday that fhst- 
quarter profits rose 3 percent an increased ovoseas sales of its breakfast 
cereals lor a record $1835 million, or 81 cents a share, in the three months 
ended March 31. 

This compared with $ 179.2 nallioa, or 76 cents a share, in the like period of 
1993. Sales rose 6 percent, to S1.6I MBon from $152 biDion. 

The Kdlogg cfaamnan, Arnold Langbo, attributed the gains to Improved 
operations globally and solid volume gro w th in cereal in Europe, Larin . 
America and Asia-Pacific, and convenience foods in North America.'’ 

For Ae Record 

ln*el Cmp. said Friday it will bufld a $13-biIlion microchip factory in 
Chandler. Arizona, as part (rf its expansion program. (AFX) 

Northern Telecom plans to spend more than $130 million to set op 
research, manufacturing and marketing operations in China. ( Bloomberg} 


Bulls Oil Run in Europe SOCIAL: Gaps Widen in America, Raising Questions About Consumers 

JL a mm n m t \ *_?»_ i . . re*i. m • . _ t a L. . - - - - - .tl .1 tL.* 


Bloomberg Business News 

LONDON — Stocks rose 
neaiiy 3 percent in Spain and as 
much as 2 percent in other key 
European markets as a rally on 
Wall Street on Thursday eased 
concerns about a global decline 
in equity prices. 

Stocks in France and Sweden 
rose 2 percent while stocks in 
Britain, Italy, Belgium, Den- 
mark, and Norway all gained at 


least I percent, much of it in the 
first hour of trading in reaction 
to a gain of 53.83 points in the 
Dow Jones industrial average 
on Thursday. 

“Things are starting to look 
more positive,” said Ian Blance, 
global economist with Nikko 
Securities Europe Ltd. “What 
happened yesterday in the U.S. 
was instrumental” 


Continued from Page 7 
of recovery — and are running at 
about the same pace so far this 
year. 

“Income inequality.*’ Mr. Wyss 
says, “is turning the United States 
bto a two-tier society. More and 
more college graduates are doing 
better and better, and more and 
more hi gh school dropouts are do- 
ing worse and worse.” 

In 1970. tbe mean family income 
of the bottom one-fifth of the pop- 
ulation was $9,070 fm today's dol- 


lars), while the highest one-fifth 
earned $68^24. In 1989. earnings 
(rf the bottom 20 percent were vir- 
tually midianged, in constant dol- 
lars, at $9,431, while the top 20 
percent had seen almost a 50 per- 
cent increase, to $92,663. 

Tbe top edidon is heavy with 
couples wbo are both college grad- 
uates, with both (rf them working, 
and who have two children or few- 
er. The lowest tier is dominated by 
families with no employed bread- 
winner and by mothers on welfare. 


Thirty percent of American chil- 
dren live in the families with in- 
comes in the lowest 20 percent, and 

since 1970 tbe percentage of chil- 
dren whose mothers are on welfare 
has almost doubled, to 15 percent 

“Society is splitting,” said Mr. 
Wyss, and this influences his eco- 
nomic forecast, which foresees fair- 
ly robust growth of 3.7 percent this 
year but only 1.6 percent next year 
and a feeble rebound to 23 percent 
in the election year of 1996. Some, 


but by no means all of that slow- 
down will be due to rising interest 
rates. 

By contrast, the latest consensus 
forecast reported by Blue Chip 
Economic Indicators of Sedona. 
Arizona, is for comfortable growth 
of 2.9 percent next year. 

- Time will tefi how soon the defi- 
cits in their society will affect 
Americans’ pockexbooks; but Mr. 
Wyss says be is sure it is only a 
matter of time until they do. 


WORLD STOCK MARKETS 




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9585 9440 MQrfS 9461 —081 219 

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11587 101-09 MQT 9510-12 KB-12 UD-09 10-10— « It 

M5H 100-20 Jun 95 10-22- M 

Est. talks NA. Du'S. MSS 142890 
Tlk/SBOMH 321815 Off 9044 

US TREASURY BQNK (OOT) n«r s taJMp b k. taim noun 
TIf-29 91-04 Akl 94 10521 HS84 105-05 0510— 05 40653 

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11520 M534 Mnr 9*10520 M3-34 M3-00 10-10— N 2Jti 

11517 9515 Jun 95 10-23- 04 287 

11515 9519 S4p 95 MQ-OS- 04 74 

11514 99-05 Dec 95 101-21— 04 39 

11+06 95Z3 MkH 101-07— 04 31 

E*LxMS NA. TN/LMlkl 441654 
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95-17 1+13 State 71-12 TI-» 10-13 91-44 — ■ 287 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24, 1994 


Bonn Says GDP 
Likely to Rise 
1.5% in 1994 


Russia: Only Better, Not Yet Good 

Inflation Slows, but Big Policy Decisions Remain 


Reuters 

_ ~ German economic 

growth in 3 994 couJd be at the high 
end of govemmem forecasts arid 
unemployment is unlikely to return 
to its post-war record of over 4 
million. Economics Minister Gtln- 
ter Rexrodt said Friday. 

In the latest display of govern- 
ment optimism about the economy 
m a major election year, he said his 
forecasts of West Goman gross do- 
mestic product growth of 0.5 to 1 


French Dismiss Fall 
Of 1% in ’93 GDP 

Reuters 

PARIS — France’s eccnomY con- 
tracted by t percent in 1993, 'which 
means the recession was much deep- 
er than previously thought, accorti- 
rng to figures released by the nation- 
al statistics office oo Friday. 

In its previous estimate, atthe end 
of Febniary, the statistics office, IN- 
SEE, had put the drop in gross do- 
mestic product at 0.7 percent. 

The Economy Ministry moved 
fast to nip in the bud any fears that 
the figures may have raised about 
recovery this year. An official said 
there was no need to alter the gov- 
ernment's forecast of 1.4 percent 
growth in 1994. especially since the 
economy has been more robust than 
expected so far this year. "If there is 
any revision, it certainly won’t be 
downward,” the official said. 


percent and pan -German growth of 
up to 1.5 percent were realistic 

The decline in first-quarter 
growth, which some economists had 
predicted because of energy tax in- 
creases and rises in social security 
contributions, appeared not to have 
materialized and pan -German 
growth of at least I percent this year 
seemed assured, analysts said. 

The opposition Social Demo- 
crats, who are leading in opinion 
polls ahead of elections on Oct. 16, 
said the government was exaggerat- 
ing the extent of the improvement. 

“This is not a recovery for every- 
one, it is a welcome, but far from 
adequate, pickup in parts of the 
export mdus try," said Oskar La- 
f on tain e, deputy leader of the So- 
cial Democrats. 

The Federal Statistics Office re- 
leased figures showing Germany 
bad a February current account 
deficit of 4.8 billion Deutsche 
marks ($2.84 billion), up from a 
revised 2.7 billion DM in January, 
while the trade surplus was little 
changed at 5.7 billion DM 

Economists said the data showed 
that exports, which the government 
hopes will pull Germany out of its 
worst post-war recession, were con- 
tinuing to improve, but slowly. 

■ Producer Prices Rise 

Producer prices in Western Ger- 
many rose 0.1 percent in March 
from February and were up 0 3 
percent from a year earlier, the 
Federal Statistics Office said Fri- 
day, Bloomberg Business News re- 
ported from Wiesbaden. 


By Steven Erlanger 

New York Times Service 

MOSCOW — The decision by 
the International Monetary Fund 
to grant Russia a long-delayed 
S1.5 billion loan, and its state- 
ment that discussions might start 
soon on a S3 billion standby cred- 
it, is important recognition that 
the new centrist Russian govern- 
ment, even without its best- 
known reformers, is working to 
slow inflation and stabilize the 
economy. 

Bui the derision is also a kind 
of prayer that the government 
can adhere to its tight policy on 
spending despite growing pres- 
sure to ease up in politically vola- 
tile Russia, where most people 
fear unemployment more than 
they fear inflation. 

On the bright side, the monthly 
rate of inflation has been undo* 
10 percent for two months now, a 
major drop from the 22 percent 
recorded in January and the 
monthly average of about 20 per- 
cent in 1993. 

Just as important, the Russian 
central bank, which flooded the 
economy with cheap credits and 
loans last year to keep inefficient 
industry and agriculture afloat, is 
obeying the government’s in- 
structions to keep a tighter rein. 

The IMF loan is an important 
victory for Prime Minister Victor 
S. Chernomyrdin, who had to lob- 
by hard for it, especially after the 
government’s best-known eco- 
nomic reformers. Yegor T. Gaidar 
and Boris G. Fyodorov, quit in 
January. Mr. Fyodorov predicted 
disaster, and some lenders and in- 
vestors in (he West panicked. 


But Mr. Chernomyrdin, who 
had spoken in January of the 
need for much higher govemmem 
spending and inflation, has taken 
to bean the West's main con- 
cerns: inflation and the budget 
deficit. He has pushed the central 
bank director, Victor V. Gerash- 
chenko, to rein in credits and 
keep interest rates above the in- 
flation rate. 

Mr. Gerashchenko, a political 
survivor, owes his job to Mr. 
Chernomyrdin and no longer has 
the old Congress of People’s Dep- 
uties to rely upon. At the same 
time, he and Mr. Chernomyrdin 
no longer have Mr. Gaidar to 
blame. 

Mr. Chernomyrdin has at least 
not made matters any worse than 
they were before the Russian id- 
ir ana tionalist, Vladimir V. Zhir- 
inovsky, rode a wave of economic 
dissatisfaction and patriotic re- 
sentment to take 23 percent of the 
vote in elections m December 
1993. 



If Mr. Chernomyrdin, a former 
manager of state industry, baa 
brought no real coherence to eco- 
nomic policy, he has so far resist- 
ed pressure from his natural allies 
in the militar y, industry and agri- 
culture to open the spigots of gov- 
ernment spending. 

“Chernomyrdin is doing his 
best, and we want to encourage 
that and hope that be can keep it 
up,” a senior Western diplomat 
said. "After all, if he fails, look at 
the alternatives.” 

_ The West has also derided that 
since Mr. Chernomyrdin is no 
Westernized reformer and repre- 
sents the responsible center as 
well as the rid Soviet industrial- 
bureaucratic elite, he keeps the 
new Parliament more favorably 
disposed toward President Boris 
N. Yeltsin. 

Mr. Chernomyrdin and Mr. 
Gaidar's replacement, the re- 
formist economist Alexander N. 
Shokhin, regularly admit that the 
government is trying to hug a 
precipice between the hyperinfla- 
tion that would result from big 
subsidies and the mass unem- 
ployment that might result from 
too little government aid. 

Western officials emphasize 
the brigjht side in public, but there 
is considerable concern. 

In fact, credit for the decline in 
inflation is due almost entirely to 
Mr. Fyodorov and Mr. Gaidar. 
The February and March figures 
reflect spending and credit deri- 
sions made in November and De- 
cember, when they were pressing 
an extremely tight credit and fis- 
cal policy to try to win the IMF’s 
approval. 


Their policies resulted in fac- 
tory layoffs, furloughs and un- 
paid salaries — drikies that 
strengthened Mr. Zhirinovsky in 
the election. 

Those problems continue with 
varying severity, and they con- 
tributed to an official drop of 23 
percent in industrial production 
from the first quarter of last year. 

That figure is exaggerated, 
since companies have an interest 
in underreporting production 
and the numbers do not indude 
new private sectors of the econo- 
my. But it agitates politicians. 

Whether Mr. Chernomyrdin 
can hold the line — or will even 
try to do so now that the IMF 
loan has come through — re- 
mains unclear. The pain resulting 
from tighter budgets and credits 
will grow, bringing louder bowls 
from the military, collective 
farmers and still-bloated enter- 


The second big worry, said 
Charles R. Blitzer, a World Rank 
economist here, was “the lack of a 
dear strategy on economic re- 
structuring,” both in promising 
sectors sudi as banking, which 
needs to grow, and in ailing sec- 
tors such as the coal industry, 
which needs to shrink. 

The biggest challenge remains 
bow to shrink the industrial sec- 
tor without causing social unrest 
On this, Mr. Blitzer said, there 
has been “no great progress” yet 
While linking a social safety net 
to re st r u ct urin g remains a goal 
no strategy has been chosen or 
money appropriated for such a 
program. 


Inchcape PLC Emerges 
As Hogg Group Buyer 


Ciga Share Surge Snags ITT Takeover 


Bloomberg Business News 

LONDON — Inchcape PLC, 
an international services and 
marketing concern, said Friday 
it planned to buy the insurance 
broker Hogg Group PLC for 
£176.6 million (S264 million). 

Inchcape said it planned to 
merge Hogg Group with its own 
insurance brokerate, Bain Clark- 
son Ltd. It said the transaction 
said would create the world’s 
sevenih-largest insurance bro- 


ker, and it plans to sell part of 
the new company in a public 
offering by 1997. Inchcape said 
it would retain a majority stake 
in Bain Hogg Clarkson. 

The announcement followed 
more than two weeks of specular 
tion over the identity of ladders 
for Hogg Group, whose stock 
price has scared since it said mi 
April 6 it was being courted by a 
number of companies. 


Bloomberg Business Newt 

MILAN — A share issue that was intended 
to clean up the debt of Italy’s Ciga Hotels SpA 
and transfer its ownership to ITT Corp.'s Sher- 
aton hotel chain appears to have gone so well 
that the 5535 mini on purchase is now in danger, 
the companies and analysts said Friday. 

“Nobody expected it to be taken up by the 
market,” said Claudio MioreQi, Ciga’s spokes- 
man. In fact, investors have bid up the shares to 
a point where they value Ciga at the equivalent 
of S850 million, or 1.6 times what Sheraton is 
trilling to pay. 

Sheraton appears able at this point to acquire 
only about a third of Gga’s shares. The rest is 
held by investors who would have little interest 
in selling at the price Sheraton is offering. The 
U.S. company’s agreement to take over the 


chain will be void if it cannot get 50.1 percent 
Sheraton said the planned purchase was in 
danger but that it would not increase its offer. 
“I guess some people there are in for a rude 
awakening,” said Jim Gallagher, a spokesman 
for ITT. “We have an agreement." 

Sheraton also recalled all of its employees 
who bad been overseeing the transition process 
at Gga’s 35 holds throughout Europe. 

Under an agreement worked out in February 
between Sheraton and Gga’s bank creditors, the 
banks were to subscribe to a Gga share issue and 
then sell the shares at a loss to Sieraion, recoup- 
ing at least 75 percent of their loans. 

The share issue was open to aQ Ciga share- 
holders. But with Gga's share price at the time 
sagging after four straight years of losses, only 
the banks were expected to take cqp the issue. 


The new shares were to be issued at 1,000 lire 
per share when Gga was trading at 840 lire per 
share. The banks were to self the shares to 
Sheraton at about 740 lire a share. 

But word spread through the Milan stock 
market that a bid from another group might be 
coming, since after the share issue Gga’s debts 
would be gone and the company would be a 
more interesting investment 
“Suddenly, the rights started selling like 
mad,” said Luca Conn, an analyst at the In ter- 
Europa&m brokerage in Milan. 

The shares closed Friday at 1,169 lire after 
13.8 million shares changed hands. 

“We are hopeful that this transaction can be 
ultimately concluded in the way originally an- 
ticipated by all parties," said Rand V. Araskog, 
chairman of ITT. 


NYSE 

Friday’s Closing 

Tables include the nationwide prices up to 
the dosing on Wall Street and do not reflect 
late trades elsewhere Via The Associated Press 


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Cootmned from Page 7 
on which the big food companies 
depend. 

Id the emerging markets the cy- 
cle is still in its infancy. There, 
branded products still represent a 
guaranty of quality. “There people 
almost aspire to buy brands,” said 
Mr. Elston of James CapeL There 
the job of the food companies is not 
to defend their labels but to estab- 
lish them. Kees Van dcr Graff, 
spent four years doing just that for 
Unilever in Asia before he recently 
returned to bead the company’s 
food operations in Switzerland. 

He successfully established Unil- 
ever’s ice cream brands in China. 
“We sell ice cream in very modern 
pushcarts and we build brand loy- 
alty based on dear product pluses,” 
be said, noting such things as the 
hygienic conditions it is produced 
under, as weD as constant refrigera- 
tion. ‘ 

Simple considerations like those 
and an absence of modem compet- 


m iCTwwium- —nop #r 

• Investor’s Europe 



Sources: Reuters, AFP IntenHiBooalHaiildTribaw 

Very brieflya 

• European Union industry ministers agreed to extend tbe Union’s steel 
rescue plan if the industry can come up with 19 milli on tons of capacity 
cuts. Competition Commissioner Karel van Micrt said. 

• Rbdoe-Poulenc SA’s chairman, Jean-Rene Fourtou, said results from 
the company’s health-care activities would be stable in 1994, and there 
would be “smaUbut-cenain" progress in chemicals. 

• VO, the German chemical industry association, said West German 
industry sales in the first quarto- rose 2 percent from a year earlier, to 41 
billion DM (S24J billion). 

a Karl KBssbohrer GmbH, a privately held maker of buses and snow- 
grading machines with annual revenue of 2 billion DM. said it might sell 
its bus unit to Mercedes-Benz AG. 

a The Austrian government would like to sell its 23 percent stake in Bank 
Austria AG, Finance Minister Ferdinand Larina said. 

• The Bank of Spain cut its intervention rate to 7.75 percent from 8.00 
percent, and major Sapnish bankseat that prime lending rates, also by 25 
basis points. 

• Argentina Gxporarita Bancaria de Espafia SA said first -quarter net 
prom after minority interests rose 12.8 percent from a year earlier, to 
20.778 biffion pesetas ($15 1 million). 

AFX, Reuters, Kmght-RiJder, A FP. Bloomberg 


UAP to Raise $518 Million 


Bloomberg Business News 

PARIS — France’s largest insur- 
ance company. Union des Assur- 
ances de Paris SA, plans to raise 
about 3 billion francs ($518 mil- 
lion) m a capital increase on the eve 
of its sale to the private sector. 

Tbe amount to be raised is deter- 
mined by tbe French state, which is 
still UAFs majority shareholder. 

UAFs nhainnfln, Jacques Fried- 
mann, has said the cash will be used 
for investment and to complete the 
purchase of tbe non-French opera- 


tions of Groupe Victoire, which it 
bought from Corapagnie de Suez 
SA last year. 

Tbe sale of UAP should bring in 
more than 20 billion francs for the 
state: Investors who subscribe be- 
fore tbe pricing will have the right 
to caned their orders if they do not 
approve of the pricing. 

The French stale is also selling 86 
milli on UAP shares, offering half to 
the French public and half to insti- 
tutional and foreign investors. 

Shares in UAP rose 4 francs to 
165 Friday on tbe Paris Bourse. 


itois have enabled Western food 
companies to command a premium 
price for their products. At Unil- 
ever that has meant that while the 
company last year had operating 
margins of 9.8 percent in Europe, 
they were 12J? percent in rest of 
world markets. 

By rushing into emerging mar- 
kets to take advantage of the supe- 
rior growth there, the food compa- 
nies themselves provide a vital link 
in a virtuous circle. They provide 
the jobs and the incomes to boost 
growth. Again the contrasts with 
their home markets are vivid 

As he announced more job losses 
and more restructurings in Unil- 
ever’s operations in the devdoped 
world recently. Sir Michael Perry 
noted that in some parts of the 
world his company would actually 
be hiring. 

“If growth in the future is com- 
ing from the Chinas and Indias of 
the world then that is where the job 
gains wfll be,” he said 



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Page 10 



























































































INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24, 1994 


Page II 



SEC Prescribes 

Global Approach 
To Derivatives 


ASIA/PACIFIC 


;e 


^ ^ invested in them in , 

an of the UjL SeolritS? 11, ?3? r ' because they escape 


men 

chan 


po»m «^ts,&. n 5? su,al 


talks in Tokyo, the 
the United States, 


powers wouw T r . 1 - u *«usinaj i^uatora rrom the United States, 
^^S’ l !S 2e,:oo P eia - J N»«®ndBmam signed an ^ 

"Ssss&ss 01 astas-*" ■*-* 


nr T^° °? e ^on can adequately 

gJSn S* “? CTest ? of omfiiS 

Hong Kong^d 
Hopefully, G-7 S 
task* it a priority." 


He said the three nations axe to 
study the derivatives market with 
an eye to issuing a set of recom- 
mendations for a “methodology*' 
to increase its transparency. Mr. 
Levitt said it wiD then he deter- 
mined “whether or not a regulatory 


TtifinVf. — urnuw wucuicr or noi a 

and central bankers response is appropriate, 
fromthe G-7 countries - the Unit- .v 


od States, Japan, Germany Fri2£[ • f “S?! *** mcetia ^ offi- 

Bmain, MdCaS^S ^ *romJapan’s Securities Bu 

scheduled to meet owdJe weS^ ^ ^ SccunUes 


end in Washington. 

Mr. Levitt, in Tokyo for talks 
wtb Japanese and British regula- 
t<»s, said it was too early to know if 
“fc^hcttal regulations on deriva- 
nvK trading should be strengtb- 
CTed. That is something that will 
roUow greater understanding of 
what products are involved, how 
they are traded and the extent of 
cross-border transactions." he said. 

Financial derivatives, so «im 
because they are derived from other 
instruments, include futures, op- 
tions and swaps based on currencies 
and interest rates. They are centre- 
venial largely because erf the vast 


SurveillaiKx Commission, the' , 

and Britain's Securities and Invest- 
ment Board. 

An official of Japan's Finance 
Minis try said the representatives 
had agreed closer attention must be 
paid to risk management, especial- 
ly by brokers. However, no specific 
schedule orplan was discussed, the 
ministry official said. 

Mr. Levitt said Japan’s deriva- 
tives market was underdeveloped 
compared to those in the United 
States and Britain. But he added: 
“I believe derivatives will become 
an important factor in the Japanese 
market in a very short period of 
time.” (AFP, Bloomberg, Reuters) 


Shanghai Rally 
Ends in Fizzle 


Return 

SHANGHAI — A brief 
Shanghai stock rally fireied 
Friday, capping one of the 
worst weeks in the three-year 
history rrf the market. 

After three days of sharp 
falls, the class- A-share market, 
exclusively for Chinese inves- 
tors, was overwhelmed by sell- 
ing pressure. 

The A-share index dropped 
2.98 percent on Friday to end 
at 580.01. The index has now 
lost 65 percent of its value since 
its high in February last year. 


Heeding the Siren Song of Asian TV 

Western Investors Find Dangers Surround the Prize 


By Richard Covington 

Special to the Herald Tribune 
CANNES — The once and future prom- 
ised land of Asian television is ranting out to 
be a mine field. “We could all lose our buns 
out here,’* said Ted Turner, addressing 
broadcasters recently in Hong Kong. 

Sobered by the spectade of Rupert Mur- 
doch’s STAR TV hemorrhaging losses estimat- 
ed at $500,000 a week, candidates vying for 
petition in the anticipated Asian television 
’ t rush are looking lone and hard before 
— into the potentially lucrative ffclri 
ate the dangers, the lure of the Asian 
prize is irresistible. At this week’s MIP-TV 
international television market in Cannes, 



Even Japanese broadcasters are finding it 
difficult to break into television mattes else- 
where in Asia. The Asian countries are ex- 
tremely wary — not just of American and 
European cultural inyaaon, but erf Japanese as 
wdv said Akira Saiio, managing director of 
NHK. The network nonetheless managed the 
debate political maneuver of obtaining Chi- 
na-Taiwan cooperation in its series on the 
palace treasures of Beijing and Taipei. 

The Australian Broadcasting Corp. is an- 
other player aggressively courting Asian au- 
diences — particularly with its news services, 
drawn from 20 regional bureaus. The sec- 


tion of censorship; it’s a question of tradi- 
tions and tastes.” 

Apart from the cultural divide separating 
Asia from Western broadcasters, another fi- 
nancial hurdle is the of pan- Asian adver- 


tising. Mr. Hill is hopeful that new advertisers 
ird, but so far only a handful 


will come cm board, 
have signed on with tbs network Foster’s 

Digital^ Eq uipmen t Corp. amciqg toem. 

Mr. Chua is another who is bullish on 
emerging pan-Asian advertising and confi- 
dent of capturing the Chinese market with his 
Chinese Entertainment Television chann el. 


American, European, as well as Asian broad- 
tefaed their plans for cracking the 



casters sketcfac 
largely untapped market. NBC, Britain’s 
Thames Television, the Australian Broad- 

network 
long Kong pro- 
announced major 

initiatives in the region. 

The demographics are staggering — in Chi- 
na akme, television advertising is predicted to 
be worth $1.7 billion by 1996, according to 
Kay Koplovitz of the international council of 
iheNa&ond Academy crfTdeviaon Arts and 
Sciences, the organization that presents the 
Emmy awards. In India, the cable networks 
are signing on new subscribers at the rate erf 
5,000 households a day. she said. 

Patrick Cox, who oversees Asian program 
development as die managing director of NBC 
Europe, said that NBC had already reserved 
two transponders on the Asian satellite Apstar 
2, set for launch next year, and was negotiating 
with Reuters and Thames Television for the 
creation of a joint Asian business channel. He 
acknowledged, however, that the network was- 
being “very careful" with its planned expan- 
sion into the volatile Asian market. 


1 have decades of 
experience in 
prog ramming for this 
region and know how not 
to upset the people. 9 
Robert Chua, Hong Kong 
programmer and investor 


Mr. Chua asserts that he has lined up more 
tenrial partners willing to 


work maintains rebroadcast agreements that 
allow the to be transmitted to terres- 

trial rirat< in rhin^ I ndones ia and South- 
east Asia. Sensitive to Asian mores, Austra- 
lian Broadcasting hews assiduously to 
editorial guidelines that warn reporters and 
programmers away from disparaging figures 
of authority or depicting nakedness. 

David Hill, Australian Broadcasting’s 
manag in g director, defended this policy. “A 
lot of American broadcasters view Asian atti- 
tudes to sex and authority as restrictions on 
free press, as a case of dictatorial regimes 
trying to quash tbe media,” he said- “But this 
critique is far too superficial. It’s not a ques- 


i bnn _ 

invest $100~m0lion in this 24-hour Mandarin- 
language service, aimed at 1.25 billion mam- 
land and overaeas Chinese. 

The Singapore-born Mr. Chua, who creat- 
ed Hong Kong’s longest-running TV series, 
“Enjoy Yourself Tonight” and has made a 
fortune in commercials and corporate videos, 
may have the expertise and financial dom to 
make good on his promises. He has paid $1.8 
million to reserve transponder space on Ap- 
star 1, the satellite owned by the Chinese 
government scheduled for launch later this 
year. Programming on his CETV will be a 
mix of talk and quiz shows and situation 
comedies, Mr. Chua said, “No Knng Fu mov- 
ies and no news. My pockets may not be as 
deep as the big boys,” he added, alluding to 
Sir Ron Run Shaw’s TVB, Mr. Murdoch’s 
STAR and American investors such as Via- 
com Inc. and Time Warner Inc^ “but 1 have 
decades of experience in programming for 
this region and know how not to upset the 
people-” 


In the end, this VnarV may prove more 
successful than plowing vast sums of capital 
into a market that continues to elude Western 
investors. 


1 • rv 

Investor’s Asia i, 



Sources: Reuters, AFP 


bwaukmllfenkiTribeoe 


Very briefly: 


• Vietnam, China, Thailand, Cambodia, Laos and Burma approved $12 
billion of transportation and energy projects at a conference in Hanoi of 
economics minis ters of the countries along the Mekong River. 


Korea Bank Chief Offers to Quit in Telecom Affair 


agreed to create a joist venture, Mercedes-Benz India, to make 200, C 
cats and 500,000 engines a year in India, starting in 1995. 

• Honda Motor Co. is likely to report that consolidated net profit nearly 
doubled, to about 38 bnhoQ yea ($369 million), for Lbe year ended March 
31, a Japanese newspaper report said: the automaker, winch will report 
earnings next month, refused to confirm the report. 

•Mdayan United Industries Bfad. stock jumped 12.6 percent one day after 
the announcement that tbe company would buy Rupert Murdoch's 25.1 
percent stake in South Qua Moraine Post (F _ “ — ” ’ ” ” — 

regulators said they troold examine the deal 


AJ» 

tin 


the route of the 

Li Peng 


Reuters 

SEOUL — The president of Ko- 
rea Exchange Bank offered Friday 
to resign in the growing controver- 
sy over this week’s share auction of 
state-owned Korea Telecom. 

The state-backed bank handled 
the auction of the 5 percent stake in 
Korea Telecom on Monday and 
Tbesday, with the bonk itself tak- 
ing part in bids for 14.4 million 
shares offered. 

Hie finance ministry ordered the 
Office of Bank Supervision, an 
overright agency, to investigate the 
bank, voicing suspicion that bank 
; prices. 


"There is a suspicion that Korea 
Exchange Bank lowered its bidding 
price after the auction was dosed," 
a ministry ememwit yiri 
The bank’s president. Huh Joon, 
said later that tbe hank had bid at 
34,800 won ($43.11) per share 
which, as it turned out, was the 
eventual strike price — the lowest 
price at which applications for 
shares were successful 
Mr. Huh said he feared this 
would invite controversy and told 
his staff to chang e the qpcai pn re- 
cord so the bank could be seal to 
have made a lower bid of 34,600 
won. This effectively lowered the 


price 

made the bank’s revised bid unsuc- 
cessful 


riling agency to £*lra part in tbe 
auction. 


employees and pension funds un- 
denvriic the shares. 


isional 
a year 


“We applied shares at 34,800 
won but later 1 was told that tbe 
lowest successful bid price was set 
at 34,800 won,” Mr. Huh said. 
“Then I directed my staff to indi- 
cate we had failed in the auction 
because we applied at 34<6Q0 won.” 
He added, “I will resign after tbe 
honor of the bank is restored 
through investigation.” 

Critics said the irregularities re- 
sulted largely from tbe govern- 
ment's decision to allow tbe han- 


“Even though tbe Korea Ex- 
change Bank been successful in the 
auction,” a securities company re- 
searcher said, “There would have 
nothing Qlegal under the giv- 
en rule. Built might be a matter of 
a common sense.” 


When the government sold a 10 
percent stake in Korea Telecom 
last October, applications were lim- 
ited to individual investors. This 
resulted is undersubscription. The 
finance minis t r y had to fix tbe sale 
price and made Korea Telecom 


This week, the ministry allowed 
all institutions except securities 
houses and investment trusts to ap- 
ply. The ministry also set the mini- 
mum bid price at 29,000 won. 

. “The current method needs to be 
reviewed before tbe next auction,’ 
said a researcher at die Samsung 
Economic Research Institute. 


Two more auctions are sched- 
uled by early next year tot the sale 
of a 15 percent stake in Korea Tele- 
com as part of the government’s 
privatization program. 


• China and Tnricmeitistaa held talks on a rail link 
old Silk Road and a natural gas pipeline project, 1 
and President Saparmurad A. Niyazov said. 

• Taiwan’s largest sled company, rMn» Steel Cwm said 
pretax profit for the first three mon ths of 1994 kkc 73 percent 
earlier, to 2.67 billion Taiwan dollars ($101 million). 

• China moved to end futures and cash forward trading in steel coal and 
sugar and may consider similar action for copper and petroleum, part of 
an effort to control infla tion in strategic materials. 

• MUsokosU LtiL, a Japanese department store operator, said its pretax 
loss widened 58 percent from a year earlier, to 3 A trillion yen, in the year 
ended in Febnuuy. 

grf A Power Co^ a leading Hong Kong utility company, said 
fit rose 20 percent in the six months ended in March, to 2.08 
'Hong Kong dollars ( $269 million). 

AFP, Bloomberg, Rouen, Kmgfu-RMder 


ical 

of 


ate 

for 

ent 

ion 


iis 

nd, 

ral 

■*1 


Mt 

on 


PLUGGED IN By Louis Sabin 


ACROSS 
1 Separates for 
the wash 

b Fashioned 

tO Puts up 

16 “Second 
Chorus” star 

18 Polio was his 
target 

19 Brigham 
Young’s 
settlement 

2t Shopper's 
convenience 

23 Punish, in the 
lockup 

24 World chess 
champ. 1960-61 

25 Lawrence 

College 

26 The Bounty’s 
anchorage 

28 Beer order 

29 1958 Oscar^ 
winner for "The 
Big Country" 

31 Scare off 


33 Wyandot 
Indian 


34 Point on a radar 
screen 

35 Life 

(emergency 

B«r) 

37 Muster out of 
the R-A.F. 

39 Rev.’s offering 


40 CoeurtT , 

Idaho 

41 Kind of 
planning 

43 Parr of R.S.V. 

45 King during 
W.W.IJ 

46 Vincent 
Lopez’s theme 
song 

48 Chemical 
endings 

49 a-brac 

50 Itinerant 
minister 

55 Bending 
59 So far 
bO Boater or 
stovepipe 
bl Scene 
63 Oven track 
rival 

b4 SomeM&M’i 
65 Hullabaloo 
67 Slav in the news. 
b8 Vandyke place 
b9 Italian 
countdown 
word 

70 “Gigi* actress 

72 Closure 

73 Electrical 
problem 

74 Herpetologist’s 
pets 

7b Bargain centers 

79 Ripe for 

drafting 

80 Classmate, e.g. 

81 Kind of hand 


82 Braggart 

85 Colonel on the 
: board 

88 Won sk illfully 

92 Dijon drains 

93 Julie Andrews 
comedy, 1981 

94 Sweethearts’ 
electricity 

96 Winter wear 

97 "Happy Days 
Are Here 
Again” 


composer 

Milton 


98 Leave angrily. 


Solution to Paofc of April 16-17 



Mnm 


m n [!□□□□ G vs n i in f 





with 

100 Jane __ , 

, with 

The 

102 Yield 

103 Common butt 
of jokes 

104 Feeling a loss 
106 Amphion's wift 

108 First-rate 

109 Add spice to 
111 What’s going 

on 

114 Forestalling, 
with “off" 

115 Energy sources 

116 Russian 
political oddity 

117 Quick 

118 Word 

119 Medicinal herb 

' DOWN 

1 Most outdated 

2 Pulwar puller 

3 Truck stop 
stoppers 

4 “Don’t on 

me!" 

5 Cauterized 

6 Red Book 
author 

7 Touch 

8 50’s singer 
Washington 

9 Bubbles over 

10 Masthead 
heading 

11 Plastics base 

12 That, in Toledo 

13 Part of a pen 
J4 Bloodhound 
15 Play layout 



O New York Times Edited by WUl Shortt, 
16 Onthego 5! Val-d- 


17 Removes a bye 

18 Connive 

20 Brave retreat? 
22 Do a banquet 
17 Drove up the 
wall 

30 Positions 
32 Peregrinated 
36 Robust 
38 Noted name in 
I.Q. testing 
40 Vs associates? 
42 “LA. Law* 
lawyer 

44 Glacial ridge 

45 Old English 
coin 

47 Falcons' nest 

49 Spaciousness 

50 Hauls 


(French resort) 
52 Winona from 
Winona 

43 Olympics logo 

54 One’s own; 
Prefix 

55 Look-alike 

56 Apollo's blood 

57 Bete 

58 Word on some 
doors 

62 Entertaining 
Jacques 

65 Clementine's 
father, e.g. 

66 Spray-leafed 
plants 

68 Beethoven’s 

Ninth 

70 Subject of 
biotech study 


71 1993 Sinatra 
album 
73 Bilked 

75 Prelude to an 
airplane 
bombing 

77 Family 

Singers 

78 Offshore 
A.P.B. 

80 Tavern keeper 

82 Rubbernecks _ 

83 College board 

84 Waste cause 

85 Punster’s 
reward 

86 Barring champ 
Tim 

87 Sink necessity 
89 Wallachiaand 

Moldavia, today 


90 Boots 

91 Execrate 

93 Tight 

95 Don wbo 
played Barney 
Fife 

98 Splurge 

99 20’s “All ^ 
Amen can” 

101 Like Jabba the 
Hurt, of “Star 
Wars" 


105 Swell 

107 Author Hunter 

110 Play the game 

112 Rental sign 
abbr. 

113 Parr of a 
crossword 
aviary 


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COPB 


COMPANSiA RARANAENSE DE ENERG1A 
USINAHBJRElJETRICASEGRffiO 
DER1VACA0 DO R10 J0RDA0 
NIERNAnONAL BIDDING IM>3 
TURBiNE-GENERATOR UNIT AND REIMS) EQUIPMENT 
CAli FOR BIDS 


COMPANH1A PARANAENSE DE ENERCIA - COPEL informs that 
the international bidding is open for design, supply, transjmrtation, 
assembling and operation start-up of Rio J ordao Derivation Turbine; 
Generator and Related Equipment located at Pinhao and Cand6i 
municipalities border, in the State of Parana - Brasl- 


municipalitjes . 

The min imum price type international bidding is open exclusively for 
individual or consortium grouped companies established in IDB 
(International Development Bank) member countries. The financing 
of die items of the present bidding is in accordance with the terms of 
Loan contract n. 593/OC/BR. 

The bidding documents, as well as the technical specifications will be 
available to the candidate* from April 22 on. against payment in 
cmeiroe reals equivalent to US$250,00. at the following addresses: 

Superintendencia de Obras de Geracao 
R. Voluntaries da Patria, 233 - sala 504 
80020*942 - Curitiba - Parana 
Tel: (041) 322-121 2 - Ramal 541 or 

Escritorio COPEL Sao Paulo 
AL Santos, 1800 - 14o Andar - Conj. 148 
01418-200 - Sao Paulo - SP 
Tel: (011) 289-1431 


At the time of purchase of the Bidding Instructions, the company 
shall present a letter containing its complete mailing address. 


The bid delivery will be on July 13, 1994. at 3K)0 PM, at 233 
Voluntaries da Patria Street, 5th floor, Curitiba-PR. 


Tbe Bidding will be ruled bv: Law n. 8666, dated June 21, 1993; 
resolution set forth by State Decree ru 700, dated September 9, 1991; 


LDB bidding procedure and by farther conditions Herrin stated and 
e Contract Documents- 


also in the < 


>b- 

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ReadIHT 

CUSSfflEDS 

For An 
Your Service 
Needs. 


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CASINO LOUTRAKI 

EXPRESSION OF INTEREST FOR CO-OPERATION 

Al LoutraJd, 80 km from Athens - a Casino license will be soon granted by the Greek Government. 

Tbe Municipality of Loutraki and Perahora, having the appropriate land as well as specific pre-feasibility studies 
for the touristic development of the rider area, and having interest to co-operate with investor in order to 
participate in the official tender for the acquirement of a license. 

Invites 


Investors to submit proposals of expression of interest for tbe phase of pre-evaluation (short-fist). 

Basic criteria for the pre-evaluation of the proposals: 

• Experience in large touristic development programmes (amounts, invested, country, year, partners, etc.). 

• Experience in constructing, organising and operating of Casinos (co-operation with other hotel or casino 
chains). 

• Presentation of appropriate economic data indicating the financial statue of the candidate investor (balance 
sheet of last 5 years, shareholders). 

• Co-operation with Banks with suitable references and permission to further request additional information, 

• Mmimnm amount of investment for the first phase of construction of tbe project should be the amount of 40 
million USD. 

■ Desired maximum construction duration 3 years. 


Short-listed candidates will receive in due time from the Municipality the relevant prefeasibility studies which 
include; 


- The Hotel-Casino duster; 

- The construction and operation of a Marina, etc. 

The Municipality, with its Society Anonyme will collaborate with the strategic investor with a percentage share 
and terms which wifi be set during the negotation phase. 

All proposals must be submitted by die 10th of May 1994 at the following address: 

Municipality ofLootrakl - Pcraborss 
BL Veriseloa 47 -Loutraki 
GREECE 

TeLi 9741-02172 & 01-7821982. 


Cosmos adv 


I 






Th 

mt 



FIRST COLUMN 


Hedge Funds: 
Stop the Rush 
To New Rules 


T HE USL Congress has been bolding 
heaxings into the activities of so- 
called hedge funds to try to deter- 
mnie whether they can and should be 
regulated. The unease of the House Banking 
Committee is understandable. These private 
pools, which escape the scrutiny given to 
mutual funds, can co mmi t to the markets 
many times the value of their assets through 
speculation in derivative instruments and lib- 
eral use of bank financin g- By some estimates, 
managers have $2 trillion at their disposal. 


The 1994 Bargain Rush for Commercial Real Estate Is On 


By Rupert Brace 


Real Estate Investment 


Wi 


Thai is a worrisome amount of money. 

in the 


What lawmakers fear first is volatility ii 
markets. Several bouts of turbulence, in cur- 
rencies and European bonds, have been 
blamed on huge bets — some won, some lost 
— made by hedge funds. The second and 
bigger fear is that the swings become so 
violent that the health of some large banks is 
put in jeopardy. 

Funds can be so leveraged and can lose so 
much that their problem becomes the prob- 
lem of the banks that lent them the money to 
speculate. Even a big win can be a big 
disaster, too. Banks often custom-design de- 
rivatives for institutional traders and then 
take the other side of the trade. Their clients’ 
gains become their losses. 

The fear of the legislators is justified, but 
not their reflex to legislate. It has yet to be 
shown that markets are any more volatile 
today than in the past, or that derivatives 
trading and other highly leveraged forms of 
speculation are the cause. 

Hedge funds began to attract attention 
when they ganged up on the Italian lira and 
British pound in 1991 While the currencies 
were driven from the European exchange- 
rate mechanism, it is now clear they were 
headed in that direction anyway. The funds 
just made the trip a tittle faster. 

Lately, managers have not been as good or 
as lucky at figuring out market trends. Earli- 
er this year, they backed the dollar against 
the yen and lost a bundle. The same thing 
happened when they bet on a rise in Europe- 
an bonds. That shows that no investor, even 
the biggest, can move a market where it does 
not want to go for any length of time. 

Markets can be distorted, but they bounce 
back. Banks are more fragile. It is the role 
hanks play in the activities of hedge funds 
that presents the biggest worry, especially 
derivatives trading, which does not show up 
on their balance sheets. The concent is genu- 
ine, but banks are already monitored quite 
closely and must meet standards of capital 
adequacy. As financial institutions and pub- 
licly traded companies, they must exercise 
prudence in taking risks as well. An increase 
in regulatory surveillance of banks or large 
financial speculators may force them to con- 
duct their business offshore, where it would 
be even harder to control 

While die lawmakers’ efforts may be admi- 
rable, if only as a means of drawing attention 
to this high-stakes game, they should be hap- 
py with the safeguards already in place and 
resign themselves to a simple fact: People who 
are entrusted with large sums of money will 
sometimes do very dumb things with it This is 
something Congress should be familiar with. 


1 HUE COMMERCIAL real es- 
tate has only just begun to 
crawl back from the deeply de- 
pressed levels of the major-mar- 
ket recessions, many investors have been 
buying in earnest for some time. 

Some professional investors even foresee 
bumper returns over the next few years on 
their faith that property prices will rise, va- 
cant space will dwindle, and rents will climb. 

George Soros, the market guru who made 
last week by telling the U.S. Con- 
gress's House Banking Committee that he 


Page 13 

Residential property in Paris, 
London and Los Angeles 
International mortgage brokers 



International Real Estate Funds 

Performance of leading 

trough April 4. 1994. Value of $100, income reinvested, 










favored “maximum supervision and mini- 
iatioa n over hedge funds such as 


C. de A. 


TTTlim 

his SI 1 Trillion Quantum Fund, apparently 
intends to profit from the posable trend. 

He has launched two commercial real- 
estate funds in the last year or so: The 
Quantum Realty Fund, a vehicle for invest- 
ing the United States and Canada, and The 
Quantum U.K. Realty Fund, for investing in 
Britain. 

fund is run as a joint venture with a 
local property company: The Quantum Re- 
alty Fund with Reichmann International, 
the new venture of Paul Rdchmaxm, former 
head of the failed real estate giant Olympia 
& York Developments LtcL, and the Quan- 
tum UJC Realty with British Land PLC, 
headed by John RitblaL 

In March 1993, when the Quantum Realty 
Fund was established, both Mr. Soros and 
Mr. Reichmann stated their belief that this 
was a good point in the real-estate cycle for 
investors to start buying commercial real 
estate. 

“We believe that now is a time of great 
opportunity to begin to assemble a prime 
portfolio of commercial real estate at advan- 
tageous prices,*' Mr. Soros said. 

More technically, Mr. Reichmann ex- 
plained: *The oversupply of first-tier com- 
mercial real estate in many of the major 
commercial centers of North America has 
created a unique opportunity for long-term 
real estate investors. Our strategy for the 
fund will be to purchase assets with reason- 
able current rates of return and which prom- 
ise significant appreciation over (he long 
term as the real-estate market slowly recov- 
ers.” 

The Quantum Realty fund's first major 
acquisition took place last September, when 


it bought $634 million in foreclosed real 
estate and underperforming mortgage loans 
from Travelers Corp., the insurance compa- 
ny. 

But Mr. Soros may bejust the best-known 
of many who think that low real-estate prioes 
are a good opportunity now. Analysts say 
that legions of investors — some might say 
speculators — are searching for bargains in 
the United States, Britain and Continental 
Europe. Hie common belief is that although 
commercial real-estate prices have started to 
rise in many places, there are still plenty of 
g pins to be made. 


CfBC-CEF Pacific Prop Shares 
Capital House Property Shares 
Ab trust Property Share 
Royal Life inti Property 
PanEu route Inti Real Estate 
Norwich Property 
Nomura: Sectorindx: Real Estate 
Gestion Sfcavfmtno B 
GesttoriSicavimmo A . 

Universal: Sector Select: Real Estate 
MPJtfTrtnmobUier •• • ■ • . ~r 

‘Fppdlili Selection^ . 

iko:lrvdex appniReal Estate 

1 liruiK^W0ieeV.'4 s . 


Gary Barth, manag in g director of Jones 
Lang Wootton U.SA, a branch of the inter- 


Efjf,iifl»w' i:h« 


145.71 

144.59 

144£2 

138.77 

134.03 

132.05 
124.38 
122.76 
122.66 
122.56 
122.25 

121.05 

12002, , 


119.17 

mnmm 


now johj 

B 


national real-estate company, said that 
“good” commercial property in the United 
States had fallen by about 30 percent since 
1989, while “bad” property had dropped as 
much as 70 percent 

“A good M anha ttan office building can 
capture all of that 30 percent back over the 
next three to four yews,” said Mr. Barth. 
“How far it goes beyond that depends on 
how long the recovery lasts.” 

RJTAJN has experienced perhaps 
the strongest rebound so far, boost- 
'follow- 

ing the exit of the pound from the 
European exchange-rate mechanism in Sep- 
tember 1992. 

Since May 1993, the Richard EUis Month- 
ly Index — which measures the market value 
of offices, shops and warehouses in Britain 
— has climbed 20.1 percent 

In Continental Europe, however, prices 
are still falling in some countries. The Rich- 
ard EUis European Property Index, exclud- 
ing Britain, has fallen 32 percent in the last 
three months. 

This is all a result of what is sometimes 
referred to as the “Hog Cycle.” first high 
rents induce investors to begin construction. 
But supply eventually begins to outstrip de- 
mand, causing rents to fall and capital values 
to tumble. Finally, a period of relatively little 
construction — like that experienced by 




l -*E3F 




176.83 

nils 

117.38 

91.81 

138.81 




119.71 

133.14 

132.91 

114.54 

137.32 

141.66 

10846 


— i 


mm 


m I 
§ 




Source: Mrcropal 


many Western countries for the past several 
years — leads to undersupply and a rise in 
prices. 

•The problem for the private investor is 
how to access tills. In most countries, the 
most common property funds invest in prop- 
erty shares quoted on major exchanges. But 
shares have been rising everywhere in the 
West for some tune in anticipation of an 
overall recovery in property values that has 
generally yet to happen. 

Perhaps the most extreme example is the 
United States, where the NAREIT Equity 
Index has risen each year since 1991. This 
measures the performance of Real Estate 
Investment Trusts, or REITs, which both 
develop and invest in property, and can be 
bought either through a stock exchange or a 
mutual fund that invests in them. In con- 


trast, the Russell NCREIF Property Index, 
iver 16,000 com- 


which tracks the value of over 
merdal and residential properties nation- 
wide, has yet to show a gain this decade. 

There is a similar situation in Britain and 
Europe, where property shares and the in- 


vestment funds that own them have shot up 
ahead of the physical property itself. 

Some analysts say that the best route into 
commercial property, now that shares have 
already moved upward, is by way of an 
“open-ended” property fund. Such funds 
invest in property — bricks and mortar, 
rather than shares — and swell and shrink 
according to the market value of its hokfmgs. 

One example of the few open-ended prop- 
erty funds available is the Norwich Union 
P ro p e r t y Trust The Fund has climbed 36.1 
percent in pound terms in the first three 
months of this year, and such growth ought 
to continue, said Mike Grimble, a Norwich 
Union investment strategist He estimated a 
total return of 10 percent to 15 percent 
annuall y through the end of 1997. 

Investors in these funds must be nimble, 
however. When property prices start to £aQ, 
investors often sell out faster than the fund 
can sell its underlying properties. This can 
lead to the fund having to suspend payouts. 

Such a situation occurred several years 
ago at Rodamco, once one of the world’s 


largest open-ended property funds. In 1990, 
investors sold out in such large numbers that 
the managers, the Dutch pension group Ro- 
bcco, stopped making payouts at net-asset 
value and turned the fund into a closed-end 
vehicle. 

A similar scenario occurred this week 
when the ING P ro p erty Fund, which is 
sponsored by ING NY, the second-largest 
bank in the Netherlands, revealed inves- 
tors could only sell shares at net-asset value 
for another three months. After that, the 
open-ended fund will become dosed-ended. 

Andre Mulder, an analyst at the brokerage 
Barclays de Zoetc Wedd, said that the fund 
had had severe problems with property-de- 
velopment investments. He added that the 
fund’s managers were faced with such a wave 
of selling that they had beat forced to take 
that step. 


The Money Report is edited by 
Martin Baker 


U.S . Real-Estate Investment Trusts Cash In on the Recovery 


By Philip Crawford 
and Mi chad D. McNickle 


I 


NVESTING in property other than 
one’s own home has traditionally been 
a somewhat rare activity for the aver- 
age investor, a play thought by many 
to be reserved for only the truly wealthy. 

But the ongoing economic recovery in the 
United States along with healthy growth 
projections for the value of both commercial 
and residential real estate has placed new 
focus on perhaps the best vehicle for small 
investors seeking exposure to the overall 
U.S. property market: The real-estate invest- 
ment trust, or REIT. 

If the number of RETT initial public offer- 
ings are any indication of market sentiment, 
then these securities may be poised for the 
strong growth that many analysts are pre- 
dicting. 

Since the beginning of 1993, REITs have 


raised about S13 billion in nearly 60 initial 
public offerings. 

In addition, the National Association of 
Real Estate Investment Trusts index, which 
tracks the performance of REIT shares 
across the United States, neady doubled the 
performance of the Standard & Poor's 500 
index in 1993, gaining 19.65 percent com- 
pared with the S&Fs 10.04 percent This 
year, through March 31, the NAREIT index 
has gained 3.4 percent, while the S&P 500 
turned in a loss of nearly 3.8 percent 

hai^mlclflo do with the overalfu.S. recov- 
ery, but also with a positive backlash in the 
long-troubled real-estate sector. 
a ^We’re just coming out of a long reces- 
sion, perhaps even a depression in real es- 
tate,” said Cathy Creswdl, a REIT analyst at 
the brokerage Alex. Brown & Sons in Balti- 
more. “The feeling in the market is that rents 
are rising, especially in the apartment sector, 
and that occupancy is increasing as well. 


tnese u 

S 


9.5% p.a. in U.S.$ 



Paid quarterly 


J 0 H N 


GOVETT 

& CO. LIMITED 


GOVETTS GLOBAL HIGH INCOME PORTFOLIO 


With deposit interest rates at new lows, now is the time to consider an international 
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If you would like to subscribe, or require further information, please call First 
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Past performance is not a guide to future performance. Please remember that the price of shares, and the income from diem, 
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which will create a need for space. REITs 
and their shareholders should benefit from 
these trends." 

OME ANALYSTS say that REITs 
bold the key to a largely untapped 
market According to some esti- 
mates, as much as 30 percent of 
property in Europe and Asia is owned by 
shareholders, compared with only 1 percent 
in the United Stales. Some see the market 
capitalization of REITs, now about $25 bil- 
lion, rising to $200 billion by the end of the 
decade on their confidence that more retail 
and institutional investors win discover 
REITs. One of the hurdles to that goal, 
however, may be the relatively Jow profile of 
REITs compared to mainstream securities. 

Generally speaking, REITs develop, buy 
and operate residential and commercial 
properties, such as apartment complexes and 
shopping centers. They derive most of their 
income Grom rent and mortgage payments. 
Like typical equities, shares in REITs are 
traded on major stock exchanges. 

But that is where many of the similarities 
end. By law, REITs must pay out 100 per- 
cent of thdr taxable net income to share- 
holders in the form of dividends. That is the 
way they were designed — as “conduit” 


securities — when they came into being in 
I960. It also is why they are known as a 
“yield-bearing” slock. 

Moreover, compared with' such. ‘instru- - 
meats as certifi cate of deposit or one-year 
Treasury bn Is, REIT yields are looking fairly 
attractive. According to Alex. Brown & 
Sons, the average annua! dividend yield for 
shares bought in a RETT On March 31 will be 
6.93 percent 

Some analysts caution private investors 
against investing in young REITs. 

“With the IPOs, individual investors 
frankly have no better hope than to have a 
very educated broker who has a highly edu- 
cated analyst who has either done the analy- 
sis himself or listened to an expert,” said 
Brant Baber, a partner with Baber & Kalin- 
owski, a law firm in Fairfax, Virginia, that 
specializes in real-estate finance and securi- 
ties. 

Bui with more established REITs, Mr. 
Baber said, “You can really look and get a 
fed based upon what they’ve done and how 
their stock has performed.” He added, 
“Their past has often plotted the trajectory 
for their future." 

Among such established REITs now high- 
ly recommended by a consensus of analysts 


are Federal Realty Investment Trust, based 
in Maryland; Equity Residential Properties 
Trust, based in Chicago, and Merry Land & 
Investment Co, based in Florida. 

Post Properties Inc and JDN Realty 
Corp., both based in Atlanta, also are ap- 
pearing on many analysts' “buy” lists. 

Adam Markman, an analyst for Green 
Street Advisers, a California firm specializ- 
ing in REIT analysis, said that although the 
REIT industry had gone through several 
periods of growth ana collapse in the past, 
today’s REITs were safer. 

“One of the most significant differences is 
that balance sheets now show very low levels 
of leverage, with debt typically at about 30 
percent,” he said. “That’s a lot different than 
in the old days when things were primarily 
debt-driven.” 

An old criticism of REITs has been that 
they are highly sensitive to dang interest 
rates. Such a concern might seem particular- 
ly relevant in today’s interest-rale dimate. 

But Miss Creswdl played down the inter- 
est-rale factor. “With the economy in recov- 
ery; REITs hope that higher rental incomes 
will offset the effects of higher costs of bor- 
rowing," - v - “ :J 


she said. 



Source; Rea/ Estate Board of Now York. 


Imemnionri BenU TtBmm 


New York: Spring Brings Out the Buyers 


By Judith Rehak 


T AKE THE real -estaift broker's 
maxim, “Location, location, loca- 
tion.” Add to that, “Bigger is bet- 
ter” and you have a snapshot of 
where the current action is in Manhattan’s 
apartment market 

A glance at a recent survey of co-op apart- 
ment sales by the Real Estate Board of New 
York might lead you to conclude that the 
market is continuing the downward slide 
that started in 1988. The price per room of a 
Manhattan apartment fell 9.8 percent to 
577,465 last year, according to the study. 

But brokers who deal with the high end of 
the market say that is not a true picture. 

“There's still an oversupply of studios and 
one-bedroom apartments and they remain a 
drag overall," said Alan Rogers, managing 
director of Douglas EUiman, one of the city's 
largest residential realtors. “What we really 
have are stable prices, substantially in- 
creased volume of sales, and a slight increase 
in prices at the top end — three bedrooms 
and up in prime locations like Park Avenue* 
and Central Park West," 

After enduring one of coldest winters in 
years, the spring weather has brought out 
New Yorkers shopping for apartments. Mr. 
Rogers said that rales at his firm were up 43 
percent so far this year, compared with a 
year ago. 

At StriWing Associates, an upper East 
Side brokerage, 8-to-1 0-room apartments in 
quality neighborhoods have been selling 


quickly, sometimes within a week after com- 
ing on the market, raid Elizabeth Stribing, 
the company^ president. There have even 
been some minor bidding wars. 

“We had an owner who accepted a price of 
51,275,000.” she said. “Then in 24 hours 
someone else offered 51,285,000 and the 
original bidder topped that by 55,000.” 

S EVERAL FACTORS are driving 
Manhattan’s luxury market now; 
First, even though prices on the most 
sought-after apartments, those in 
prewar buildings with high ceilings and fire- 
places, have risen anywhere from 3 percent 
to as much as 13.7 percent, they are still 20 
percent to 25 percent off the 1988 peak. 

Second, the realization that interest rates 
are moving up in the United States has 
spurred buyers who want to take advantage 
of lower mortgage rates. 

“Recently some of our clients have ob- 
tained adjustable-rate mortgages at 5 per- 
cent, and fixed mortgages at around 8 per- 
cent," Mr. Rogers said. 


Lastly, sales of luxury apartments are tied 
closely to events on wall Street As any 


realtor will tell you, last year’s multimillion- 
dollar bonuses are boosting sales. 

Meanwhile, sales of condominiums, some 
15 percent of Manhattan's apartment inven- 
tory, soared 20.7 percent last year, according 
to a report by Yale Robbins Inc., which 
gathers real-estate data. The handful of luxu- 
ry condos, such as those built by the tycoon 
Donald Trump, where a four- room apart- 
ment can sell for as much as $2 i 
remain a magnet for foreign buyers. 


“All that changes are the nationalities,” a 
broker said. “The Japanese came in, thm the 
Italians. But now the Japanese aren’t buying, 
the Italians have dropped out, and the South 
Americans are back.” 

Pnces for condos are 10 percent to 15 
percent higher than co-op apartments, apre- 
mtum buyers are clearly willing to pay to 
avoid the scrutiny of their finances and more 
stringent requirements of Manhattan’s noto- 
nously fussy co-op boards, such as bans on 

subletting. 

But despite the upturn in prices at the top 
echdons of the market brokers say that for 
careful value-seekers, there are opportunities 
now m hard-hu sectors. 

“There’s tremendously good value in 
small townhouses," said Ms. Stribliag. She 
c stogie-family townhouses “to the low 
™ selling $990,000 to 
51.350,000. It s the equivalent of a 10- room 
any with a garden,” she added. 

Mr. Rogers said that his firm had seen 
some sales at about $300,000 for two-bed- 
ro«n apartments in the undistinguished 
“white-bnt±” buildings that dot the content 
Y S* S - U PP® E** Side. “They get a 

nSjSJr?!? 11 t ^ rms roorn size they’re 
qnue good," he said. 3 

v P cssimi *ic watchers of 

rh 5 “P* 1 *"?® 11 market seem to agree 
Iun i? “ P rices * enffig. 
Arana ^ if 8 ? 1 * ( OT ^ next year well be 
dotog steady business,” said Slrihfing. 

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INTERNATIONA! . M KHALI* TRIBl'NK, SATIJ RD A Y-S 1 I NDAY, APRIL 23-24, 1994 


Page 13 



Paris: At the Botto 

By Philip Crawford 


* 


T g^.°r residen- 
S ?«^l nV m Paris has 
inJilf^ COVer fr °™ Ihe 

™ y rece ssic*n that has 
kepi many potential buven- ft! 

ai me same u me, however few 
qS/™* IO sho ° l “P “gain 

^T 0r,W0 -^”4 

Jjtony experts say buyers may be 
lookup at a sizable window of 
P^uumy. especially in the midX 

H* •Eft 1 *'" Aere is moreto 
gktemiban at the luxury m dS 

Wh0 ^ * hammer 

»? * pnce ,enns «"B 
potential buyers and sellers add 

that there is a lot more activitv in 
the market than a year ago. In real- 
estate lingo, that means that more 
jjeqpl^are at least looking, if not 

“It s difficult to pin on any one 
thing, said Frank Guck, director 
of the international realty concern 
Century 2 1 France, referring to the 
general increase in market activity 
as well as to an upturn in “open- 
ings" — signed contracts between 
buyers and sellers — for properties 
handled by his company. 

“It’s not anything to do with the 
overall economic picture in France, 
because nothing's really changed. 


^employment is stflj high and 
People are still worried. 

Bui I think buyers fed that nei- 
P nces “or interest rales are 
g«ng to go any lower, and they're 
saying to themselves. ‘If we're ever 
^oing to do this, maybe now’s the 
ume. That seems lobe the psychol- 
ogy that’s active.’’ 

According to the most recent es- 
hmates calculated by the Cbambre 
oes Notaires de Pans, which rqis- 
ters real-estate transactions and 
room tors prices, the cost of vacant 
apartment space in Paris fcfl about 
o percent in 1993, compared with a 
year earlier, to an average of 18,390 
francs {S3, 1 50) per square meter. 
The slide bore out analyst fore- 
casts, which last year said that val- 
ues would continue to faD at a rate 
less steep than the 11.2 percent 
drop of 1992. 

P RICES SLUMPED last 
year in every district ex- 
cept the 1st, and some sec- 
tions of the aty were hit 
particularly hard. In tbe4tb anon- 
dissement, which includes the pic- 
turesque Place des Vosges, the av- 
erage cost per square meter fell 15.4 
percent to 21302 francs. Prices 
dropped II percent in the 7th, 
which remained the most expensive 
area of town; residential space 
there sells for an average of 27,1 16 
francs per square meter. 

In the 8tb arrondisseroent, home 
to the “golden triangle’’ bounded 
by the Avenue des Champs- Hy- 
sbes. Avenue Marceau and Avenue 
Montaigne, prices fell 15.7 percent 
to an average of 25,983 francs per 
square meter. 

“People don’t want to be in the 
8th any more,” said Jackie Maran- 
gos, a negotiator at Richard Ellis 
SA, a Paris property consultant 
“Rents are hi g h, charges are hi gh. 
and there are fewer and. fewer shop- 



keepers. It’s not really a place to 
bring up children anymore. People 
are moving oat.” 

Such “charges” refer to monthly 
fees levied won each apartment in 
a building. They typically cover the 

costs of grounds and building 
maintenance, plus those of con- 
cierge services. 

According to Century 21, which 
deals primarily in the vast middle 
price range of Paris apartments, 
there has been a clear pickup in 
that part of the market. 

During the first quarter of 1993. 
for example, an average of 88 days 



first quarter of 1994, that time 
shrunk to 67 days. 

Throughout France, there were 
1,354 openings on properties han- 
dled in March by the agency, up 14 
percent from the same month a 
year ago. A deal is not formally 
“dosed” until both parties register 
the formal transaction at the local 
Chambre des Notaires. 

If the nuddle of the market is 
reviving, however, rite luxury end is 
stiD in the damps. A prime reason 
is the dearth of exceptional proper- 
ties on the market; many would-be 
sellers are holding onto their prop- 
erties in the hope that prices wul 
eventually climb back to the inflat- 
ed levels of the late 1980s. 

Bui they may be waiting a long 
time, the experts say. 

“A lot of people have derided 
not to sell because they think prices 
will go bade up to where they 
were,” said DoneOe Higbee of 
’s, which deals in the high- 


est end of the Paris market. “But 
things will never be that way again. 
The market may have hit bottom, 
but the really good products just 


aren't oat there. If they were, we 
could do a lot more selling.” 

Other analysts agree that the 
heady days of the late 1980s, which 
saw some values double over a 
four-year period, are not likdy to 
return. Much of the blame for that 
period's high price levels, which 
came crashing down by about 25 
percent in 1991, has been placed on 
speculators who bought apart- 
ments with the sole intention of 
reselling them quickly at a profit. 

Miss Marangos said that bring- 
ing buyer and seller together on a 
pnce for a high-end apartment was 
extremely difficult in today's cli- 
mate. She spoke of one property 
she knew at the Place des Vosges 
which, despite the fact that it 
lacked a view of the square, had 
attracted a bid of 80,000 francs per 
square meter — but still not quite 
enough for the seller. 

“The owners fed they can get 
85,000 francs per square meter,” 
sbe said. “So the parties are still a 
ways a part.” 

Miss Higbee added that snee 
French homeowners tend to believe 
in “bricks and mortar” as a long- 
term investment and do not typi- 
cally overextend on mortgages, 
they rarely find themselves m the 
position of having to sefl. 

“They can just sit and wait,” she 
said. 

Richard McGtUycuddy, a nego- 
tiator at the Philip Hawkes agency, 
a Paris firm specializing in upscale 
residential properties, said that 
there were lew choice listings on 
the market Still, he predicted that 
sales would gradually pick up. 

“There will be more sales over 
the next two years,” he said. “Peo- 
ple will get bored of the recession. 
And with all the increased activity 
in the market, the recession may 
jnst sort of stop itself." 


On Hold in Paris 

Apartment prices in francs per square meter by armndissement 
and percentage change over one year to Dec. 31. 1993. 



Source: Criambre des Notairas de Paris 


bm niwuw a l Herald Tnbonc Source: SavSs 


London: Foreign Investors Are Piling In 


By Rupert Bruce 


Los Angeles: Biding the Quake to Revival 


By Conrad de AenUe 


A FTER ASSESSING the destruc- 
tion that the January earthquake 
unleashed on Los Angeles, prop- 
erty owners' thoughts turned to 
another potential source of damage: jittery 
neighbors fleeing the region and pushing 
already depressed home values even lower. 

The knee-jerk departure of some residents 
of the San Fernando Valley, the huge Los 
Angeles suburb where the quake was cen- 
tered, did give the real-estate market a jolt, 
but the prevailing view is that nm the disas- 
ter may in fact jump start the region's long- 
suffering economy. 

“The initial impact of the quake was a 
dampening of property values in the affected 
areas, and there still will be a residual impact 
because of a fear of more quakes,” said Lynn 
Reaser, chieT economist at First Interstate 
Bank. “But there has been an infusion of 516 
billion in private and public insurance funds 
into the L-A- basin. As a result, the construc- 
tion industry has seen some revival and that 
sector of the economy is doing better.” 
Allen Parker, who manages the United 
Services Real Estate Fund, which is partly 
invested in home-building companies that 
do much of their business in the region, 
called the quake “a mixed bag.” 

In spile of the loss of life and property, he 
said that “the net result of afl that earth- 
quake damage is a positive for the economy 
of Southern California.” 

“A lot of money will be spent there, a lot 
of jobs will be created,” he added. “Home- 
owners seem to be doing wdL” 

Money spent, jobs created, homeowners 
doing wdL It has been a long time since 
those things happened in Los Angeles. 

The last recession occurred right around 
the time of the great d ism a n tli n g of the 
defense industry, one of Southern Cahtor- 
nia's largest employers. As a result, the 
downturn was far more crippling there than 
in most of the nation. 

Unemployment during the recession was 
much higher than the national average — 
and still is. at about 9 percent That forced 
many Los Angeles residents to leave, which, 
in turn, caused a sharp drop in home pnces. 



it I 


Source: Walker Associates 


The median price of single-family homes 
sold in March in the San Fernando Valley 
was 5182,000, according to the San Fernan- 
do Valley Association of Relators. That was 
103 percent less than a year earlier, and 26 
percent below the 1989 peak. 

But the worst may be over. Alice McCain, 
the association's president, said business was 
picking up in the area, even if prices were 
not. 

“There are lots of buyers out there.” she 
said. “There has been a shortage of proper- 
ties, partly due to the quake, partly because 
prices are down.” 

T HE 1,157 properties that went into 
escrow in March marie the bat 
month since 1989, Ms. McCain 
said. Many of the buyers are mov- 
' mg into their first homes, a trend in force for 
about a year. Others were left homeless by 
I the earthquake and are taking advantage of a 
federal program allowing them to buy a 
home with no down payment. 

Whfle Ms. Mccain conceded that prices 
had not yet risen, “when you have multiple 
bids on properties, as we have seen, prices 
stabilise and start to go up.” 

Sbe noted that it was the lower-priced 
homes, those under 5200,000, that woe at- 
tracting competing bids. 

One recent buyer is Patty Momsson Wag- 
goner, who just after the quake paid 
5600,000 for a large home in Enano, an up- 
scale San Fernando Valley community. 


“I paid 20 percent less than I 
could get a house in this area for.” said 
Waggoner. At the height of the property 
market a few years ago, she said, homes like 
hers could not be found for less than 
$800,000. 

“The market has been so bad for so long, it 
has probably hit rock-bottom,” she said. 
“We’re just betting on the come, hoping the 
market will get better in a few years.” 

With her new home, she's gang doubte- 
or-nothing. She still owns another house in 
the San Fernando Valley that sbe has decid- 
ed to lease out rather than seU. She sard she 
expected to hang onto in for two more years 
in the hopes that the market would improve 
and posh its value up 20 percent. 

Mrs. Waggoner said sbe did not expect the 
earthquake to hurt her chances. She also 
cited reports that about one- third of the 
people driven east tty the disaster now wish 
they had stayed. 

But a sustained recovery in Southern CaB- 
fanna housing depends on a prolonged im- 
provement in the region’s economy, fore- 
casters say. In this regard, Mr. Parker said 
the woist was probably over, even if the best 
is nowhere in right 

StiD, one factor that has given the market 
a lift is the drastic reduction in mortgage 
rates over the last couple of years. At the 
same time, rents have increased while home 
prices have fallen, making it more prudent to 
buy than to rent 

Since last fall, however, rates have shot 
higher, a circumstance that Mr. Parker be- 
lieves cannot help the market, although he 
said he had heard a couple of scenarios, 
which he considers not very plausible, under 
which higher rates might provide a lift to the 
market 

One of those holds that there wiH be “a 
rush to buy homes and lo ck in rates at 
current levels, in which case we’re robbing 
sales from the future.” 

The other, he said, takes note of the fact 
that “people are basically worried about 
stocks and bonds.” The theory goes that with 
the value of financial assets deteriorating, 
some wiD be inclined to buy pr ope r ty as a 
way of keeping their money in something 
tangible. 


In Europe, Mortgage Brokers Can Guide 


.»j 3 


| Ry Alin e SuHtyan 

F or individuals 
seeking to buy a home 
abroad, good faith can 

prove a scarce commod- 
ity. In many European countries, 
the services of a mortgage broker 
familiar with local laws and cus- 
toms can be a good toww* 
Mortgage brokers help a pro- 
spective buyer secure a loan 

through one of their ten dj » 
lactTThe more established l firms 
have contacts with a noon* « 
banks and lending establishments, 
enabling them to shop around for 
competitive rates. In return for this 
service they charge a fee, usually 
percent of the mortgage varae. 

around legal and fisca^Ss- tdej 
ly different laws and customs can 

assffiSHJSM 

with foreign acxCTts - £ 5 ^%; ior of 
Simon Tyler, managing duecuwta 
Chase de Verfc the L^don-based 
mortgage and insurant* brokers 
“It is important to getjtotari hdp^ 

carBffgys 

foreign buyers may be be 
with a mortgage t * eo< ? 11 ^iL n the 

theu own cunency. raiha: , 

local one. Mortgage broken, can ad- 
vise clients on such issues. - 
But there are someimportant^ 

vests. Brokers who 

in house buying in jX 

they do not hare a presence should 


be regarded with suspicion. Would- 
be buyers are usually better off 
seeking local advice. 

Mr. Tyler’s clients include Brit- 
ish citizens based offshore who 
want to buy property in Britain and 
foreigners investing inthe British 
co mmerc ial or residential property 
markets. What they have in com- 
mon is a need for a large mortgage: 
clients at Chase de Verc average 
mortgages of £140,000 ($210,000). 

Nick Sutton, a financial adviser 
.at RJFCL Ltd., a subsidiary of the 
London-based insurance broker 
Fraser Group, also arranges mort- 
gages for individuals who want to 
bey residential and commercial 
property in Britain but five in other 
countries. Many recent cheats have 
been Hong Kong residents. 

“The mortgage market is very 
limited for these people,” said Mr. 
Sutton. “There might only be one 
or two British banks with offices, in 
their area. We can access the whole 
lending market here and give them 
a much wider choice.” 

Simon Checkley, director of John 
Chared Independent Mortgage and 
Financial Advisers in London, sees 
ak*<rfU.& diems wbo arc relocat- 
ing to Britain and need hdp in ar- 
mpgjng thdr mortgages. 

“The terms available from lend- 
ing institutions vary enormously,” 
Mr. Checkley said. “Also, there are 
important tax considerations. It is 
often in the interest of Americans 

to borrow as much as possible. 
Many UJC. lending institutions 
would not understand that.” 

Buyers from the former commu- 
nist countries of Central and East- 
ern Europe also can benefit from 
the services of brokers. Brokers and 
real-estate agents in the more afflu- 
ent parts of London and Paris re- 


port a surge of interest from Rus- 
sian buyers in recent years. 

Brokers are best established in 
Britain, Scandinavia and in the re- 
sort areas of Spain and Portugal. In 
many other countries, foreign buy- 
ers are better off approaching the 
local branch of their home bank or 
a bank with a correspondent rela- 
tionship. If all else fails, they can 
try their luck with a local bank. 

A spokesman for Allied Irish 
Bank in Dublin said the bank does 
not take referrals from brokers. For- 
eign buyers amply apply for loans 
at the relevant branch of ATB. 

“We probably wouldn’t give 
them a 90 percent loan," he said, 
“but many foreigners are able, to 
secure an 80 percent mortgage. 

In Switzerland, foreigners often 


have the most luck borrowing from 
anaU banks. These banks common- 
ly operate a risk-weighted scale 
when setting charges: the higher 
your perceived risks as a borrower, 
the more you pay. 


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A fter several grim 

wars, the top end of the 
British residential prop- 
erty market is making a 
vigorous comeback, with much of 
the recovery driven by buyers from 
the Continent, the United States, 
the Far East and even Russia. 

Real-estate agents report sharply 
rising prices in the prime areas of 
London and in the suburban coun- 
ties wi thin striking distance of in- 
ternational airports. 

Yolande Barnes, head of residen- 
tial research m Savflls, an upmarket 
real estate agency, said: ^*A 1 the 
end of 1992 we saw a marked up- 
turn at the very top end of the 
London market It started with 
very expensive houses and moved 
out from central areas of Belgravia 
and Mayfair to more peripheral ar- 
eas.” 

That upturn spread in 1993. 
Property prices rose in the top- 
scale London areas of Kensington 
and FTip 1 w» Holland Park, Not- 
ting HQ1, St John’s Wood, Regents 
Pant, Hampstead and the Dock- 
lands. Unusually, the increases fed 
quickly into the suburban counties 
surrounding London. 

Miss Barnes predicts that the 
price surge has only just begun. 
SaviHs is forecasting increases this 
year of 25 percent for prime central 
London property and 19 percent 
for top-notch property in Britain as 


awl 


What brought the market back 
to life? Experts say the catalyst was 
Britain's withdrawal of the pound 


from the European exchange-rate 
mechanism in ihe fall of 1992. The 
20 percent drop in the value of the 
currency coupled with the plunge 
of 20 parent io 30 percent in prop- 
erty prices suddenly made apart- 
ments and bouses in Britain highly 
attractive (o foreigners. 

Savins' Prime Central London 
Residential Property Index rose by 
lOJpercsmdnring 1993. The com- 
pany’s country house index for the 
suburban counties climbed 11.6 
percenL 

B OTH INDEXES cover 
the top lOpercem by val- 
ue of apartments and 
houses sold in each re- 
gion. In such areas as the Dock- 
lands, this would include studio 
apartments that might sell for as 
little as £120,000 (S180.000); in the 
most expensive London areas of 
Belgravia and Mayfair, on the oth- 
er hand, houses might cost several 
million pounds. 

This compares with last yraris 
slim ]_2 percent rise in the Halifax 
budding society’s nationwide in- 
dex, wh«h spans all echelons of the 
market Most forecasts for the top 
end of the market also exceed the 
gentle recovery of about 5 percent 
predicted by the Halifax index for 
1994. 

But SaviHs’ prediction of sharply 
higher prices this year may turn out 
to be excessive. 

Stephen Pirrie, head of the West 
End office of Hamptons, the real- 
estate agent, said that based on the 
results of the first quarter, property 
price were more likely to climb by 
only about 12 percent this year. 
He said that of the buyers he 


deals with regarding property in 
the exclusive areas of Knights- 
Belgravia, St James’s and 


Mayfair, 85 percent are from out- 
side Britan. Middle Eastern buyers 
have recently made a comeback, 
and Russian buyers have started to 
appear as weO, he said. 

For those international investors 
buying on a relatively short-term 
baas, Mr. Pirrie said that yields on 
rental property of 9 percent to 10 
percent in 1993 had fallen to about 
7 J percent so far this year. But be 
noted that there was now a much 
greater chance of significant capital 
aation on such properties 
there was a few years ago. 

According to Miss Barnes, one 
of ihe surprising features of this 
recovery has been the swiftness 
with which the prices of country 
houses have tracked those in cen- 
tral London. In the past, price in- 
creases drifted only slowly outward 
from London's prune areas. 

Again, interest from internation- 
al buyers has been the key. About 
1 1 percent of sales at Saves’ Seven- 
oaks office in Kent came from 
overseas investors in 1993. The 
nearby Guildford office in Surrey 
also saw strong overseas buying. 

Richar d Smith, an aw” 811 *- di- 
rector of Savflls in Sevenoaks, said 
interest is beamed farmhouses is 
the £300,000-to-£500,000 price 
range was so strong that good 
property became relatively scarce 
toward the end of 1993. So far tins 
year, such properties have sold 
so<Hi after they nit the market 

While the sale of one 16th-centu- 
ry five-bedroom farmhouse feO 


through in 1993, it recently sold for 
£450.000. 

Mr. Smith said the overseas buy- 
ers were from Greece, France asd 
the United States; there also were a 
few expatriate Briums from Hong 
Kong. 

The attractions of the area in- 
cluded its proximity to London and 
various amenities, he said. 

“We are in an area that is very 
popular for education,” he said. “It 
has very good local grammar and 
pub Sc schools for boys and g iris. 
We have got a mixture of country 
and communication^- We are 40 
nannies from London, and in the 
country as wdL” 

Colin Mackenzie, head of the 
country house department at 
Hamptons, said he was being ap- 
proached not only by Houg Kong 
expatriates, who were willing to 
pay up to about £300,000 for choice 
property, hut by foreign business 
people seeking a base in Enrope or 
a place to entertain European cli- 
ents, who were often willing to go 
as high as £1 5 million. 

Mr. Mackenzie also stressed that 
such buyers tended to want bouses 
within short distances of interna- 
tional airports. He said that those 
buyers with a European hast in' 
mind sought property no more 
than an hour’s drive from Gatwick 
or Heathrow airports, while those 
seeking to offer corporate hospital- 
ity tended to look for something' 
within a half-hour of the airports. 

Large country houses in tins area 
that were selling for about £500,000 
last^ear rmjhtrell for £600,000 in 



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INTERNATIONAL HERALD TRIBUNE, SATtIRDAY-SUNDAY, APRIL 23-24, 1994 


Page 15 


ADVERTISING SECTION 



Athens Can Lead Way to Expanding Europe 


Greece’s 
economic and 
foreign-policy 
problems are not 
going to obstruct 
its responsible 
leadership of 
European affairs, 
including efforts 
to expand the 
European Union, 
says Yannos 
Papantoniou, the 
alternate minister 
of national 
economy, who 
recently chaired a 
meeting in 
Brussels of 
European finance 
ministers. 


he positive 
Greek attitude to 
Europe became 
obvious during 
the first three months of 
Greece's role as president of 
the Union. Although Greece 
does not agree with the 
overall EU position, it voted 
for measures to be taken 
against Bosnian Serbs if 
they continued to bomb 
Sarajevo. Greece took the 
same position at the NATO 
meeting that decided to give 
the Serbs an ultimatum. 

On both occasions, Greek 
representatives voiced 
doubts as to the effective- 
ness of the measures pro- 
posed and said Greece 
would not participate in any 
military action or allow the 
use of Greek bases that are 
shared by NATO forces. 
Nevertheless, Greece did 
not use its veto. 

The Greek internal oppo- 
sition was quick to accuse 
the governing Socialists of 
violating their principles 
and letting down Greece’s 
closest traditional friends, 
the Serbs. Prime Minister 
Andreas Papandreou, how- 
ever, defended his position, 
claiming that Greece was 
putting European solidarity 
above national interests. 

Greece was disappointed 
that within days of the 
European Union and NATO 
meetings, the United States 
proceeded to recognize the 
former Yugoslav Republic 
of Macedonia, without wait- 
ing for Skopje to open a dia- 
logue with Greece to settle 
differences about the name 
of the new state, the use of 


Greek symbols in its flag 
and articles in its constitu- 
tion that Greece considered 
a threat to the territorial 
integrity of Greece. 

Faced with accusations by 
the opposition of leading the 
country into a fiasco, the 
government declared an 
embargo against the former 
Yugoslav republic, which 
depends on the Greek port 
of Salonika fra- its imports. 


Greece is saving as Urn pmat- 
dent of the European Union tm- 
tll the end of June. 

The European Commis- 
sion alleged the move was 
violating EU principles and 
referred Greece to the 
European Court. Greece 
was to be indicted unless it 
lifted the embargo before 
April 22, the dale set for the 
first official visit of Mr. 
Papandreou to Washington 
for talks with U.S. President 
Bill Clinton. 

During Greece's tenure as 
president of the Union, 
negotiations have resulted 
in the probable acceptance 
in the near future of the 
entry of Austria, Norway, 
Sweden and Finland. 


Greeks favor this expansion 
and are looking forward to 
the entry of East European 
countries to the Union. 

“We see the expansion of 
the Union with very positive 
eyes,” says Mr. Papan- 
toniou. “The more it 
expands, the larger its 
weight on the international 
horizon. Since the United 
States is now the only 
superpower, the creation of 
a balancing force is abso- 
lutely necessary.” There are 
historical reasons for 
Greece to favor the associa- 
tion of former Eastern bloc 
countries. “Our Balkan 
neighbors and other coun- 
tries of the former Eastern 
bloc constituted once upon a 
time the hinterland of north- 
ern Greek ports like 
Salonika and Kavala,” says 
Nikos Efthymiadis, presi- 
dent of the Association of 
Northern Greek Industries. 

Throughout the Roman, 
Byzantine and Ottoman 
empires, caravans from 
Salonika carried goods to 
Serbia, Bulgaria, Romania, 
Austria and Ukraine. “At 
present, a chartered plane 
flies in daily from Tbilisi, 
Georgia to Salonika with a 
load of passengers who 
shop in Salonika,” says Mr. 
Efthymiadis. 

Recently, representatives 
of 24 Greek companies 
from the area of Salonika 
flew to Georgia, where they 
signed commercial agree- 
ments worth $15 million. 
The agreements call for 
exports such as olive oil, 
food and machinery. One 
company signed an agree- 


ment for the establishment 
of a chocolate plant in 
Georgia, and another for the 
opening of a supermarket. A 
printer signed a contract for 
the production of a maga- 
zine and books for a 
Georgian publisher. 

“We found a country that 
is hying desperately and at a 
great cost to find its way to 
a free- market economy,” 
says Christos Fblias, presi- 
dent of the Commerce 
Association of Salonika. 
“They need almost every- 
thing, especially know-bow 
and raw materials. They are 
ready to discuss any kind of 
joint venture. ” 

Albania, the poorest 
northern neighbor, with 
whom there has recently 
been considerable border 
tension, has become so 
dependent on Greece that 
the Greek drachma has 
become the main instrument 
of exchange. Over 200,000 
Albanian immigrants , many 
illegal, work in Greece and 
send money home. Several 
Greek food and beverage 
firms have established net- 
works in Albania. 

In Bulgaria and Romania, 
Greek investors are doing a 
thriving business. “Over 
1,000 companies are now 
operating joint ventures 
with Bulgarian firms” says 
Mr. Efthymiadis. 

“Basic sectors expanding 
to the north, mainly in 
Bulgaria and Romania, are 
food and beverage indus- 
tries. textiles and banking. 
Credit Bank has established 
a branch in Bucharest, and 
Fgnatifl Bank and the Bank 


;•/ 

II 








of Macedonia and Thrace are 
about to open branches in 
Sofia,” says Mr. Efthymiadis. 
“Business and economic 
cooperation is the best way to 
secure peace and security in 
the Balkans" 

Greeks have a long tradi- 
tion of doing business with 
countries to the north, includ- 


ing Ukraine, Georgia, 
Azerbaijan and Armenia. 
This also explains the exis- 
tence of large Greek commu- 
nities in these countries. 

“For thousands of years, 
even during the Ottoman 
occupation, Salonika has 
never stopped being the 
metropolis of Balkan busi- 


ness,” says Mr. Efthymiadis. 
“Now all facts point toward 
the restoration of the city's 
old position. Greece, and 
especially northern Greece, is 
the right platform for 
expanding to the east And 
business expansion is the 
forerunner of political expan- 
sion.” John Rigos 



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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24* 1994 


AnVFRTISING SECTION 


Tf 

m 




hirteen large 
public-works 
projects aim to 
modernize 
Greece's antiquated infra- 
structure, providing at the 
same time an impetus for 
new jobs and for invest- 
ment-led growth. By the end 
of the century, Greece could 
have a telecommunications 
and transportation network 
on a par with those of its Eu- 
ropean Union partners. 

For more than 10 years, 
Greece neglected its infra- 
structure. During the same 
period, other European and 
Asian countries invested 
large sums in transportation 
and telecommunications net- 
works. With the new era - of 
tele-information dawning, 
Greece found itself at a dis- 
advantage: roads were badly 
in need of repair, its tele- 


phone system was noted for 
reaching wrong numbers, 
letters took more than a 
week to go from one part of 
Athens to another, parcels 
were more often lost than 
not, railways were practical- 

Socialist promise 
on major investment 

ly nonexistent, bank branch- 
es stayed is touch with their 
head offices by telephone 
and the information revolu- 
tion was nearly unheard of 
in die country. 

By the end of the 1980s, 
the major political parties 
started to realize the simple 
truth that in today's integrat- 
ed world, where companies 
locate production facilities 
in the country that offers the 


most services, governments 
- not only businesses - must 
compete with each other. In 
the 1980s, foreign capital 
stayed away from Greece 
because the necessary ser- 
vices were not available 
there. They were available, 
however, in countries like 
Turkey, Spain, Portugal, Ire- 
land and Italy. A decision 
was made to correct the situ- 
ation, and a monumental ef- 
fort has been under way 
since then - officially sup- 
ported by all parties. 

In the last three years, 
more than 500 billion drach- 
mas ($2 billion) have been 
spent by the Ministry of 
Public Works on the im- 
provement of roads and 
ports, supplemented by an- 
other 50 billion drachmas 
from die Ministry of Trans- 
port and Communications, 


most of which has been 
spent on the extension and 
modernization of the phone 

service. Mobile telephony 
has entered Greek lire: fol- 
lowing a successful interna- 
tional competition, two con- 
sortia led by a British and an 
Italian company are blanket- 
ing the country with their 
networks and providing 
Greek businesses with 
much-needed and efficient 
services. 

National highways have 
been extended and im- 
proved, ports expanded and 
dock facilities upgraded. A 
special fund has been setup 
to finance airport improve- 
ments. Coastal shipping hftg 
been thrown open to compe- 
tition. leading to a dramatic 
improvement in the number 
and quality of ships plying 
the Aegean and Ionian Seas. 


Greece’s rulers realized 
that it was difficult to make 
up for lost time and that a 
special effort had to be 
made. At the same time, a 
deep fiscal crisis meant ex- 
penditure to be curtailed 
and the public sector’s bor- 
rowing requirements con- 
trolled. 


Karamanlls, Senior State Leader of Europe 



onstantine Kara- 
raanlis, president 
of Greece, has 
been compared to 
Pericles, the ancient Greek 
statesman, but Pericles was 
a bit of a demagogue and 
Constantine Karamanlis, 
now aged 87. is anything but 
that. 

Others have seen him as a 
new Eleutherios Venizelos, 
the man who began 
Greece's modern history. 
But Venizelos was a revolu- 
tionary and took risks, while 
Mr. Karamanlis walks only 
on solid ground. This is 
why, for most of his fellow- 
G reeks, Mr. Karamanlis is 
unique and incomparable. 

One of the youngest 
politicians ever to serve 
Greece as prime minister, 
Mr. Karamanlis was a suc- 
cessful member of the gov- 
ernment of Marsha] Alexan- 
dras Papagos when King 
Paul picked him as the suc- 


cessor of the old soldier, 
who died in 1955. Twenty 
years later, Mr. Ka ramanlis 
held the referendum that put 
an end to the monarchy in 
Greece. 

“For Karamanlis, there is 
no ideology or obligation to 
others. His supreme law is 
the interests or the country 
as he sees them- and this is 
usually a clear view,” the 
late Constantine Tsatsos, 
Greece’s first post-monar- 
chy president and a close as- 
sociate of Mr. Karamanlis, 
once said. 

Mr. Ka ramanlis was bom 
on March 8, 1907 in Prod, a 
village in Macedonia, then a 
province of the Ottoman 
Empire. After studying law 
at Athens University, he en- 
tered Parliament in 1935, at 
the age of 28, as a deputy 
from the area of Series in 
Macedonia. 

He took the premiership 
20 years later as leader of 


the National Radical Party 
(ERE). 

In more than 56 years in 
politics, he has held most of 
the important ministries in 
various cabinets, was pre- 
mier for 14 years and was 
twice elected to the presi- 
dency of the republic. 

In 1974, after the fall of 
the military dictatorship in 
Greece, Mr. Ka ramanli s was 
received as a messiah when 
he returned to the country. 
He setup a party called New 
Democracy and restored 
people’s trust in democratic 
institutio n s . 

He will go down in history 
for putting an end to the 
monarchy through a free ref- 
erendum and managing to 
persuade other European 
leaders to accept Greece as 
the tenth member of the Eu- 
ropean Economic Commu- 
nity in January 1981. 

According to many ob- 
servers, Greece was not 


ready economically to take 
the plunge, but Mr. Kara- 
manlis stressed the political 
reasoning. He was seeking 
stability and security for 
Greece, a country at the 
crossroads of East and West 

In 1980, he resigned as 
prime minister and party 
leader and was elected presi- 
dent of the republic for a pe- 
riod of five years. Two 
months before me end of his 
tenure, on March 10, 1985, 
he resigned from the presi- 
dency. He was re-elected 
five years later, in March 
1990, for a second five-year 
term. 

In recognition of bis strug- 
gles for the European i dea, 
he was honored with the 
golden medal of the Euro- 
pean Parliament, and he has 
received the Charlemagne, 
Schuman and Onassis 
awards. 

The Greek president is to- 
day the senior state leader in 


jjr “*v 




President Constantine Kara- 
mantis. 

Europe. He has been de- 
scribed as the “Nestor” of 
European statesmen. And 
like the aged leader of the 
Greeks who besieged Troy 
3,000 years ago, he is a rich 
source of sound advice. l ike 
Nestor, he is not always lis- 
tened to. JJL. 


The previous conservative 
government, led by the New 
Democracy Party, had de- 
cided to draw up plans for 
the im plem entation of sever- 
al huge investment projects, 
designed not only to mod- 
ernize the country’s infra- 
structure but also to provide 
an impetus for growth, de- 
velopment and employment 
Chief among these was the 
Athens subway (in the plan- 
ning stages for more titan 20 
years), the new airport at 
Spate near Athens, the Rio- 
Ancirio Bridge (to link west- 
ern Greece with the northern 
Pelopenniso s), the Aheloos 
River Dam and the new 
pipeline to provide Athens 
with fresh water. 

Given the country’s dire 
fiscal position, these projects 
were to be largely financed 
with European Union funds, 
mainly from the Delors n 
Package. 

Before losing the October 
1993 general elections, the 
conservatives had managed 
to start building the Athens 
subway, draw up plans for 
the Aheloos Dam and 
choose a mainly German 
consortium, led by Hochtief, 
to build and operate the new. 
international airport at Spa- 
ta. When the elections 
brought the Socialists to 
power, most plans were pot 
on hold pending a review by 
the new administration. 

The government of An- 


dreas Papandreou has indi- 
cated its willingness to pro- 
ceed with all major invest- 
ment projects that will im- 
prove the country’s infra- 
structure. 

Thirteen such projects 
have theoretically been put 
on the front burner, but for 


the moment, the only one 
showing some practical, 
progress is the Rio-Antirio 
Bridge. The total cost of 
these projects is estimated at 
2 trillion drachmas, and it is 
hoped that all wifi be com- 
pleted by fee end of the-cen- 
tury. Anthony Kefidas 



This advertising section was produced in its entirety by 
the supplements division of the International Herald Tri- 
bune’s advertising department • John Rigos, Anthony 
KefaJas and Pat Hamilton are writers based in Athens 
who specialize in Greek affairs. 



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Aristotle University of Thessaloniki 


“I speak to all of you here today, the living 
presence of our nation! Greek history is a 
unique compass which has steadfastly 
directed our people towards the values and 
the symbols that nurture their sense of 
national identity. This history has fostered 
and magnified the responsibilities of each 
successive generation of Greeks, who have 
offered works, struggles, sacrifices, and 
blood to the tree of Hellenism. This has 
been the seed which made the Greeks great 
and created that splendid universal 
civilisation that illuminated the whole 
word. To our own generation has fallen the 
honour of defending the name, the 
symbols, the history, and the culture of 
Macedonia, fundamental elements of the 
Greek identity. Today’s rally, magnificent 
and mighty, affirms the message that 
Macedonia is the Greek's precious 
talisman; that Macedonia is flesh of 
Greece's flesh; that Macedonia Is the soul 
of our Nation's soui. Name, culture, 
history, and symbols together form a 
unified, indivisible, and non-negotiable 
whole. Let the political leaders and the 
government hear our message. Like an 
immovable rock, a vigilant sentinel, we 
maintain the struggle. 

Let our European partners, the USA. and 
other countries also hear our message. Let 
them stop turning a blind eye to historical 
deceit, for they owe it to their 'distant 
mother' as the poet says, they owe It to 
Greece, the illuminator of the world. 

Lastly, let Skopje's leaders hear our 
message, and give up their stubborn and 
fraudulent bolstering of the national 
identity. Their obstinacy is manifested 
both in their high-handed appropriation of 
the name 'Macedonia' and of Greek 
symbols and in the fact that their 
constitution enshrines supposedly 
Irridentist principles which can only prove 
detrimental to Greece and jeopardise the 
smooth co-operation and peaceful of the 
Balkan peoples. 


I am in a position to assure you that the 
Aristotle University of Thessaloniki, the 
largest institution of learning not only in 
Greece but in the whole of the Balkans, and 
one of the most important in Europe, is 
well aware of its responsibilities towards 
the future generations who will continue 
the march of the Nation's history. The 
University is taking active steps to re- 
establish the historical truth with actions 
and initiatives that are strengthened by its 
prestige. 

Coincidences can be very symbolic 
sometimes. It is precisely two years ago 
today that Professor Manolis Andronikos 
left us, a member of our University whose 
name will eternally be linked with the 
history of Macedonia and the sun of 
Vergina. At times like this, he is with us, 
fighting at our side. 

The University community forms a solid 
front with the peace-loving Greek people 
and their political leaders and cannot 
accept without protest the constant insults 
to our national consciousness and the 
continuity of h istory. 

The Senate of the Aristotle University of 
Thessaloniki calls upon the international 
academic community to do its utmost to 
find a just solution to this problem. The 
solution must rise above circumstantial 
diplomatic expediencies and guarantee 
steadfast national, political, and cultural 
principles and values. Only a just solution 
will make this a region of peace, frienship 
and co-operation for the Balkan nations' 
Our University, in complete unanimity with 
the Greek people, has demonstrated its 
commitment to such principles by deeds 
and actions. 

Through my presence here today the 
Aristotle University, the University of 
Macedonia, and all the Universities of 
Greece salute with zeal and pride this 
magnificent gathering - for Macedonia - for 
Greece - for the soul of Hellenism!" 


'Address given by Mr. Anthony Tmkateli, Dean of the Aristotle University ofThessabniki 
on March 31,1 994 during the public rally held in Sabnika. 


* 


■ j * 


6 











INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, APRIL 23 - 24, 1994 


Page 17 



Sea Story: A Saga 
Of Golden Fleece 


And Golden Fleets 



'wsim 

--a*« 




• -i 


hen did 
Greeks first 
become mas- 

* n «, — T" ters of the 
sea? Was u when the Arg- 
onauts sailed to the Black 
Sea to get the Golden 
Fleece, or when the Mi- 
noans from Crete and San- 
tonin sailed to North Africa 
for trade and conquest? In 
any case, it must have been 
over 1,000 years before they 
sailed to Troy in 1 100 B.C. 
to reclaim the beautiful He- 
len. 

George Katsifaras, minis- 
ter of the merchant marine, 
is not interested in going so 

More training is 
planned for sailors 




far back to show the impor- 
tance ships have played in 
the history of his country. 
He says: “Without our ship- 
ping, we would not have 
been able to free our country 
during tbe War of Indepen- 
dence, 170 years ago. Actu- 
ally, our merchant marine 
played an important role in 
every major conflict our 
country was involved in.” 
He is quick to point out 
the sacrifices suffered by 
Greek sailors during World 
War I and World War IL “In 
World War I, we lost 68 per- 
cent of our merchant fleet,” 
he says. “Out of 475 ships in 
1915, we were left with 205 
at the end of the war.” 
During World War II, 

J Greece lost 72 percent of its 

J merchant fleet, with 565 
j ships sunk. 2,700 sailors 
! killed and more than 3,000 
' injured. According to Vas- 
‘ silis Maros. who recently 

| completed a documentary 

i on Greek shipping during 


World War U, Greece lost 
more tonnage at that time 
than during the whole of its 
4,000-year shipping history. 

Greek shipping was reor- 
ganized after Worid War n, 
thanks to the sale of 100 
Liberty ships from the Unit- 
ed States. Under the leader- 
ship of men like Slavros 
Niarchos and the late Aristo- 
tle Onassis, Greek shipown- 
ers gained a dominant place 
in world shipping. With 
1 ,093 ships totaling 
S 1 ,503 ,84 1 tons dead 
weight, Greek-registered 
shipping holds the third 
place in the world, after 
Panama and Liberia. “We 
have 8 percent of world 
shipping and 45 percent of 
European Union shipping,” 
says Mr. Katsifaras. If the 
tonnage of Greek-owned 
ships under foreign registry 
is added, Greek shipping is 
first in the world, with 2£31 
ships of over 120 million 
cons. 

Shipping contributes 5 
percent of the gross national 
product, bringing into the 



Shipping contributes 5 percent of Greece's gross national paxktcL 


- 1 i 



George Katsifaras, minister of 
the merchant marine. 
country over $2 billion in 
foreign exchange and em- 
ploying over 50,000 sailors, 
half of them in Greek-regis- 
tered ships. 

Mr. Katsifaras admits that 
Greek shipping has person- 
nel problems. “We do not 
get many sailors and there- 


fore our ships have to turn to 
third countries for part of 
their crews.” he says. 
“Greek legislation allows 40 
percent of each crew to be 
foreigners.” 

Greece has signed agree- 
ments with some Asian 
countries, including Ban- 
gladesh, the Philippines and 
Sri Lanka. They provide 
mostly deck hands, while 
Greece provides officers. 

“Let's face it, work at sea 
is considered hard, despite 
the comforts of modern 
ships,” says the minister. 
“We are trying to make it 
more attractive. We must 
bring our young men back to 
the sea, and we are in the 
process of reforming educa- 
tion for crews and officers. 
We are also aiming at at- 
tracting European as well as 
Greek crew members.” 

Since Greek shipping is 
occupied in world transport, 
Greek shipping companies 
are organized on an interna- 
tional basis and financed 
through international bank- 
ing institutions. “We were 
not geared toward extending 
credit and financial assis- 


tance to our shipping indus- 
try,” says Mr. Katsifaras. 
“We are actually opposed to 
such financing.” 

By depending on foreign 
financing, Greek shipping 
has suffered from interna- 
tional monetary and trade 
crises. Greek shipping inter- 
ests were also hurt by the 
protectionism other coun- 
tries extended to their own 
shipping industries. 

“That's why we support 
free competition in world 
transport, and we also have 
adopted within the frame- 
work of the International 
Maritime Organization a 
number of agreements deal- 
ing with shipping security 
and environmental protec- 
tion,” Mr. Katsifaras says. 

The only protectionism 
offered to Greek shipping is 
that extended to cruise ships 
and passenger ships that 
connect local ports. Protec- 
tionist measures for Greek 
cruise ships will end in 1998 
and for all passenger ships 
by 2004. 

Gerasimos StrintzLs, presi- 
dent of Strintzis Lines, one 
of the leading passenger- 


and cruise-ship companies, 
welcomes the end of this 
protectionism. “We should 
not restrict the entrance of 
European companies,” he 
says. “We have taken advan- 
tage of existing European 
regulations, and we have our 
own shipping companies in 
Ireland and in Italy. Our 
newest ship will sail in Italy 
under the Italian registry.” 

During its current presi- 
dency of the European 
Union, Greece is trying to 
promote a number of resolu- 
tions aiming at better mar- 
itime security and environ- 
mental protection. 

Among these, according 
to Mr. Katsifaras, are joint 
regulations for the inspec- 
tion of shipping, training 
standards for sailors and 
lower dues for tankers that 
have higher environmental- 
protection standards. 

Mr. Katsifaras says his 
country is in complete 
agreement with the Euro- 
pean Union position, which 
called for the liberalization 
of international sea transport 
during tbe Uruguay round of 
GATT talks. J-R- 


The Big News: Greece 
I s in the Soccer Finals 


Greece is in the mood 
for celebration - the Greek 
soccer team has made it to 
the finals of the World 
Cup, starting in June in the 
United States. 

Soccer is Greece's na- 
tional sport, but in interna- 
tional competitions Greeks 
have had a hard time. This 
will be its first World Cup 

finals. 

It was not until 25 years 
ago that Greeks began 
playing cm green turf. Un- 
til then, their fields were of 
smooth, hard soil. Experts 
believe that the improve- 
ment of Greek soccer is 
due not only to the devel- 
opment of proper fields 
but also to the introduction g 
of professionalism and the | 
attraction of international $ 
aces, mostly from South ^ 
America, the former Yu- g 
goslavia, Bulgaria and Al- 1 
tenia. g 

Some experts believe * 
that apart from the im- | 
provement of standards, 
Greece was favored by 
luck. The country was 
drawn for the preliminar- 
ies in a group consisting of 
tbe Soviet Union, Yu- 
goslavia, Hungary. Lux- 
embourg and Iceland, but 
Yugoslavia was disquali- 
fied after the dissolution of 
its federation, and the So- 
viet Union team became 
the Russian team, thus los- 
ing some of its best Ukrai- 
nian players. 

Greece finished first, 
with six victories, two ties, 
no defeats and a IQ-2 goal 
score. 

Greece had a brilliant 
coach, the naturalized 
American Altekas Pana- 
ghoulias, a 60-year-old 
veteran player who also 
has a Masters in Inteina- 



Modem hero Tassos M&tropoulos, captain of the Greek team. 


tional Relations from an 
American university. He 
coached the Greek nation- 
al team in die 1980s, when 
it made the finals of the 
European Cup, and was 
also successful as coach of 
the American team in 
1983, 1984 and 1986. 

Mr. Panaghoulias be- 
lieves that his team can 
make it through the first 
round of the finals and join 
the 16 qualifiers in the sec- 
ond round. His players ap- 
pear equally determined, 
partly because if this hap- 
pens, they will share a 
bonus of $1 million. An 
additional $1 million will 
be made available for 
them for every new round 
they enter. 


“Our players will be fa- 
vored by the environ- 
ment,” says Mr. 
Panaghoulias, who points 
out that first-round match- 
es will be played in Boston 
and Chicago, where there 
are large Greek -Amen can 
communities. “Crowd 
support will mean a great 
deal to my men,” he says. 

Greece has been drawn 
in group “D” and will be 
playing against Argentina 
in Boston on June 21, Bul- 
garia in Chicago on June 
26 and against Nigeria in 
Boston on June 30. 

“We are a good team,” 
says Tassos Mitropoulos. 
the Greek captain. “With a 
little bit of luck, you never 
know” JJL 


f 

\ 



\iM 


HELLENIC AEROSPACE INDUSTRY LTD 


Established in 1975, the HELLENIC AEROSPACE INDUSTRY (HAI) is one of Europe’s most 
prominent aeronautical companies with a list of more than 70 customers from Greece and abroad. 

HAI’s four primary business segments provide services in world-class quality on time and at a 
competitive price, utilizing highly skilled and experienced personnel as well as state-of-the-art 
facilities and equipment in an environment which fosters trust: 


Maintenance, overhaul, modification and testing of nearly all types 
of western world aircraft and helicopters and more than 20 different 
types of engines as well as related accessories and components. 


Manufacturing and assembly of medium and large size sub-assem- 
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size static sub-assemblies for military and civil engines and aircraft H 
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Custom design of electronic and telecommunication products for 
military and commercial markets and after-sale support for pro- 
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taming services in aU phases of aircraft and engine support, elec- 
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stics. 



HELLENIC AEROSPACE INDUSTRY LTD. 

Communication & Public Relations Directorate 
Tknagra, EOl Box 23, GR320O9Schim»fari, Greece 
TfeL: (OU-8836711, (0262)^2185, -52145 
Fax: (0U-8838714, (Q262)-52170 
Tlx: 299306 HAI GR 



M v; ^ ' 

■“ ; ' ' i * . \ : ' .• i L. 



At a time when there is no room for 
inertia or complacency, «EMnOPIKH*» 
- the Commercial Bank of Greece - 
retains its robustness. 

Through its size as the second largest 
commercial banking institution in 
Greece. 

Through its wide network of 342 
branches aU over the country. 

Through its modem technological 
infrastructure. 



Through the dynamism of its 
management and culture. 

Through the depth of its experience in 
banking, insurance, services and 
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Through its highly - competitive special 
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For example: 

Tbe Investment Banking Division 
has become a leader in the Greek 
market for related services such as: 
underwriting of public issues, 
commercial bonds, advisory services, 
M&As, and a fuH range of custodian 
services. 


The Department of FbasibHHy Studies 

offers two types of services: 

a. it undertakes feasibility studies for 
interested investors, and 

b. of utmost importance, it undertakes 
to obtain ail the necessary permits and 
licenses (including: documentation, 
provision of information on legal 
benefits and incentives, legal support) 
so that investors will not have to deal 
with bureaucratic red tape. 

Take advantage of the dynamism and 
robustness of the Commercial Bank of 
Greece. 


EIHiriOPIKH 


COMMERCIAL BANK 

the fine art of Banking 







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Page 18 


_ advertising section 


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INTERNATIONAL 



TRIBUNE, SATURDAY-SUNDAY, APRIL 23-24, 1994 






• - > 


■ ' * /*>V . 


if. < i " . ■' </ 



••^v • viy. 


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Sun Management: 
Tourism Industry 
Helps 10 Million 
Catch a Few Rays 







Tourists on itefr way by bOsB and terry to the Greek Islands wait at the port ol Piraeus. 


hings are begin- 
ning to look up 
for Greek tou- 
i rism. The number 
of visitors rose last year to 
10.2 million, about the sam e 
as the country's population. 

The initiation of infra- 
structural improvements, the 

gradual recovery from the 
European recession and the 
misfortunes of such sunny 
competitors as the former 
Yugoslavia and parts of 
North Africa promise a fur- 
ther upturn as Greece aims 
to become “the Florida of 
Eu rope.” 

SETTE, the country’s first 
tourism lobby, formed two 
years ago and made up of 
230 of the most influential 
companies in Greece, is call- 


ing on the government to 
push for adoption by die Eu- 
ropean Union of a series of 
incentives to promote holi- 
day travel from the northern, 
to the southern countries and 
of disincentives to discour- 
age Europeans from vaca- 
tioning outside the Union. 

To attract older tourists 
with money to spend and to 
ensure that visitors return, 
Greece must provide the 
kind of infrastructure those 
people expect Various pro- 
jects are now under way to 
accomplish this. 

In addition to a planned 
new international airport in 
Athens that will be able to 
handle 50 million passen- 
gers a year and what is to be 
the best underground rail- 



- -v » - .... - -mn ..-TO? ‘ 

...» 





Baking in thesun on the Greek Island ofUfikonos. 


way system in Europe; exist- 
ing airports are now being 
improved and Greek entry 
ports from Italy expanded 
with faster ferryboats, which 
will cut 12 hours off the trip 
from Ancona (Italy) to Pa- 
tras (Greece). 

Tourism Minister Dio- 


In Addition to Retsina, Greece Offers Fine Wines 


The Greek wine industry, best 
known for its pine-flavored relsi- 
na, is now penetrating the market 
for quality red and white wine. 

Despite the fact that Greece 
was probably the first country in 
the world, some 4,000 years ago, 
to produce wine on an organized 
basis, the modem Greek wine 
industry is barely 20 years old. 

In the past few decades. Greek 
wineries have been modernized 
and technologically equipped, 
and a new generation of young 
Greek chemists and enologists 
have returned from studies in 
France, Germany, Italy and 
California, eager to apply their 
skills. Consumer tastes have also 
been changing, with a move 
away from the barrel table wines, 
which used to be the only offer- 


ing at most tavern as and Greek 
homes. 

According to the wine special- 
ist at the Hellenic Export 
Promotion Organization. Yorgos 
Papapanayotou, there is not yet a 
grand vin in Greece. “But we 
can find very good quality wines. 
appellation d’origine and virus de 
pays that are extremely interest- 
ing because of their originality 
and personality due to the wide 
range of native grape varieties 
used,” he says. 

This new interest in fine wine 
has encouraged the development 
of a number of small wineries 
working alongside wine coopera- 
tives and the major, long-estab- 
lished companies, such as 
Boutaris, Achaia-Clauss, Canas, 
Kourtakis and Tsantalis. Some of 


these wineries use imported 
grapes (cabernet sauvignon or 
merlot, for example), either on 
their own or in blends with 
indigenous grapes. 

Greece can be divided into 
four different wine-making 
areas: Macedonia and Thrace in 
the north, the Peloponnisos in the 
south, the Aegean and Ionian 
islands, and Arnica. 

One of Greece's finest red 
grapes, xynomavro, which 
thrives in northern Greece, is 
used to make naoussa wines. 
Boutari, the market leader in the 
wine industry, has its base in this 
region and produces more than 
25 million bottles a year, of 
which 20 percent are exported. 

While the xynomavro grape 
dominates the northern part of 


the country, in the Peloponnisos 
area to the south, the prized 
Agiorgitiko-based wines, the 
nemeas, are worth attention. The 
most important producer in 
terms of quantity is the Nemea 
cooperative, with a gleaming 
new winery built with the aid of 
European ,Union funds. It pro- 
duces about 20,000 tons of wine 
a year. Most major producers 
ofier a nemea, and the best is 
said to be from Kourtakis, under 
foe Kouros label. 

The port of Patras is the base 
for the Achaia-Clauss company, 
Greece’s oldest winery, founded 
by a Bavarian businessman over 
100 years ago. In addition to its 
well-known Domestics label, the 
company produces some fine 
wines with the Patras appella- 


comp 

wines 


tion, including the sweet red 
mavrodaphne, similar to an aged 
tawny port. 

The Greek islands are tire tra- 
ditional home of ancient grape 
varieties. Crete is the most 
important in terms of quantity. 
Other worthy island wines 
include the sweet Muscat of 
Samos, Cephalcmia’s roboila and 
the mandilaria-based wines of 
Pazos. 

The Attica region around 
Athens is planted with the white 
bavatiane grape, much of it 
resinated to make retsina. 
Despite the doubtful reputation 
retsina has given to Greek wines, 
it can be an agreeable drink 
when consumed very cold, in the 
. sun and with assorted Greek 
hors d’ceuvres. PA 


nysos Livanos foresees radi- 
cal changes in the Greek Na- 
tional Tourist Organization, 
which has been criticized for 
its lack of direction and for 
recent advertising cam- 
paigns. 

Mr. livanos has proposed 
the establishment of a 
Tourist Bank that would 
manage the huge amount of 
property owned by the 
tourist organization, valued 
ar 3 trillion drachmas ($12 
billion). 

In addition to privatizing 
the country’s casinos ana 
yacht marinas, Mr. Livanos 
will claim $500 million 
from tiie Delors II European 
Union regional aid package, 
of which $110 million will 
be devoted to hotel modern- 
ization. Last year, a new law 
was passed that sets tougher 
standards for hotels and pen- 
sions, with stiff fines for 
those in violation. 

In an attempt to keep up 
with technological trends in 
tourism, a Greek travel con- 
glomerate, the Danae group, 
working with a team from 
Athens University, has come 
iq> with a computerized na- 
tional tourist information 
system called Nadis, which 
will allow access at the 


touch of a few computer 
keys to such things as a list 
of available hotel rooms on a 
remote island, ferry sched- 
ules, museum opening times 
and lists of cultural events. 

“It will be the first time- 
the entire industry cooper- 
ates on a national project for 
the common good,” the 
president of Danae, Lefteris 
Theofanopoulos, said at a 
recent press conference. 

The Greek travel industry , 
already has considerable ad- 
vantages: The sun shines 
some 300 days a year in bril- 
liant blue sloes, and tourists 
are offered 2,000 islands and 
13,000 kilometers of jagged 
coastline, ideal for sailing, 
with the greatest number of. 
clean beaches m Europe. 

For skiers and climbers, 
spectacular mountains - the 
country’s least-spoiled trea- 
sure - are everywhere. 
Greece has been blessed 
with over 6,000 species of 
wildflowers, many of which 
are found nowhere else in - 
the world. 

While the influx of tou- 
rism has taken some toll, lit- 
tle searching is needed to 
find a way of life that 
charms viators. 

Pat Hamilton 


President: George Prassianakis 
General Manager: Spiros Stalias 

Address: 2, 2nd Merarchias Street, Piraeus, Greece 
Tel.: (01 ) 452091 1-19 - Fax: (01) 4520-852 

Tlx: 21-2187 OLP 



PORT OF PIRAEUS 
AUTHORITY 


The most important centre of in-transit container 
traffic in the Eastern Mediterranean 


The Port of Piraeus is the number one port of 
Greece and a highly competitive hub for 
Mediterranean trade as a whole. 

It already holds the first position in the 
Eastern Mediterranean and the 3rd position 
in the entire Mediterranean Sea, in terms of 
container handling, its annual throughput in 
1993 reached 530,000 TEU's. 

Piraeus is the port with the biggest passenger 
traffic in the Mediterranean holding the 3rd 
position worldwide, with an annual passenger 
throughput of 12 m. in 1993. 




At the Port of Piraeus, we aim to ensure that 
your cargo is handled quickly, efficiently, 
safely and cost-effectively, round-the-clock. 
We offer a comprehensive service of a wide 
range of commodities vehicles, unit loads, 
bulks and general cargoes. But most 
importantly our expertise and experience in 
handling cargo at Piraeus, in conjuction with 
the port’s unique location, and the “state-of- 
the-art” facilities, provides the physical 
explanation for the high standard of the 
services that we provide. The Port of Piraeus 
Authority is ready to meet the Challenge of 
2000 with: 

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ships cargo. 

- Excellent feedering services. 

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the transhipped containers as high as 65%. 

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Container stuffing-unstuffing warehouse 
(CFS) 20,000 m2 wide. 

470 power plugs for reefer containers. 

The deepest quays for berthing the latest 
generation container ships. 

Computerization of all port activities. 

Ships have to cover a minimum distance off 
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Dry-docking and shiprepair facilities. 

Transhipment of containers to Eastern 
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Page 20 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-S UNDAY, AP RIL 23-24, 1994 


SPORTS 


Phils’ Jackson 
4-Hits Giants 


The Associated Press 

A four-hitter reversed Danny 
Jackson’s fortunes against the San 
Francisco Giants. 

Backed by home runs from Dave 
H ollins and Dairen Daulton, plus a 
wind blowing in, Jackson pi tched 
the Philadelphia Phillies to a 6-1 
victory Thursday in San Francisco. 

He was 0-3 with a 9.60 eamed- 
nm average against the Giants in 
1993. but blanked diem after a 


NL ROUNDUP 


Hollins hit a two-run homer in 
the third and Daulton a three-run 
drive in the eighth although tbe 
blustery weather at Candlestick 
Park making it tough on the bitters. 

“It's been a long time since we’ve 
had a game as well pitched as this 
one," said Daulton, who has gotten 
all six of his homos and 16 of his 
17 RBIs in his last 12 games. “Fun- 
damentally, it was the best game 
we’ve played.” 

John funk continues to hammer 
right-handed pitching on his return 
from testicular cancer surgery. He 
singled in (he first, hit a sacrifice fly 
in the third and lined out sharply to 
center in the fifth, making him 8 for 
22 (364) against right-handers. 


Jackson, who said he’s pitching 
better because he’s healthy for tbe 
first time in several seasons, added: 
“The difference today was a much 
better fastball" 

The Giants praised Jackson, yet 
there have been a lot of well- 
pitched gam” against them lately. 
The team’s average clipped to 328, 
worst in the majors. 

Dodgers 13, Mets 3: Orel Her- 
shiser beat the other former Cy 
Young Award winner, visiting New 
York’s Dwight Gooden, for the 
third straight time as Raul Mondesi 
got three hits, one a three-run 
homer in the eighth, and scored 
three times in Los Angeles. 

Tim Wallach, Mike Piazza and 
Jose Ottoman each drove in two 
runs for the Dodgers, who had IS 
hits. Delino DeShields had three 
hits and stole three bases. 

Hersbiser allowed eight hits in 
seven innings following three con- 
secutive no-derisions. Gooden gave 
up seven runs and 10 hits in 5Vt 
inning s with three strikeouts and 
three walks — all to Brett Butler, 
who walked four times in alL 

Expos 5, Partes 4: Rookie Cliff 
Floyd and Marquis Grissom hit 
consecutive homers in the fifth and 
Moises Alou drove in two runs as 
Montreal won in San Diego. 



French Panel Demotes Marseille 


Vincent Anwby/Ageoee Puncc-Pimc 


Jean-Jacques Eydefie, the Marseille midfielder, entering the bearing in Paris. 


Compiled by Our Staff From Dispatches 

PARIS — French soccer authori- 
ties on Friday relegated Olympique 
Marseille to the second division next 
season as punishment for allegedly 
bribing annthrr team, Valenciennes, 
to throw a match last year. 

Tlte president of the French federa- 
tion, Claude Simonet, also an- 
nounced that Marseille’s president. 
Bernard Tapie, would be banned 
from French soccer and the three 
players involved in the match-rigging 
affair suspended until 1996. 

The relegation came after 3 Vt hours 
of deliberations by the federation's 
board following a day of hearings 
with the main actors in the 1 1 -month- 
old bribery scandal. 

The ruling by the 26-member 
board left open tbe chance for Mar- 
seille to compete in a European cup 
tournament u it qualifies this year. 

The measures, following almost a 
year of procrastination by (he federa- 
tion, were harsher than expected and 
incensed a crowd of Marseille fans 


gathered outside the federation's Pap* 
is headquarters. , , 

Marseille had already been 
stripped of its French championship 
and barred from defending its Euro- 
pean Champions’ Cup title. 

Tapie had his director’s license 
withdrawn and was barred from ac- 
tivity in French soccer for an unspeci- 
fied time. 

The board banned Marseille's ex- 
general manager, Jean-Pierre Bcrnfes, 
accused of orchestrating the bribe to 
players for the rival dub Valend- 


currently in second place in the 
French league behind Paris St. Gar- 
main. It is roll involved in the French . 


Cup competition. 

Citing unspecified threats, the 
league earlier in tbe day had post- ' 
poned Saturday's scheduled French 
Cup quarterfinal match between 
Marseille and Montpdber. No new'’ 


date was immediatdy fixed. 

Tbe special panel heard the key 


ennes, from the sport for life. 

Jean-Jacques Eycflie, the Marseille 
midfidder who acted as Bemfis’s mid- 
dleman, and two Valenciennes play- 
ers who accepted the payoffs, Jorge 
Burmchaga and Chris tophe Robert, 
were provisionally suspended from 
play until July 1, 1996. 

The decision means that Marseille 


governing body, agreed. 


figures or their lawyers once again 
recount their rotes or allegati o ns. ;■ 
Tbe pand heard first from Jacques 
Classman, the whistle "Mower from * 
tbe Valenciennes team "who" said fae 
had been offered 230,000 francs 
($44,000) to go easy against Marseille 
on May 20, six days beforeits Cham- 
Dions’ Cup mflzcb against AC Milan. 
Marseille won both. - - 
Tapie has been charged by investi- 
gators with complicity in corruption 
for allegedly attempting lobribeBoro 
Primorac, the former coach of Valenci- 
ennes, to take tbe blame for tbe scav- 
daL (AP, Reuters, ARP) 


SCOREBOARD 




Major League Standing* 


AMERICAN LBAOUE 
East DhrUtoo 


Eckersley Fails Again, 
Bosox Win on 2 in 9th 


What the heck is wrong with 
Eck? 

Dennis Ecker&ley, mqjor league 
baseball's premier closer the past 
six seasons, failed for the third time 
to get his first save of 1 994 when he 
gave up two runs in tbe ninth in- 
ning and the Boston Red Sox ral- 
lied for a 6-5 victory Thursday over 
tbe Oakland Athletics. 

Eckersley has saved 256 games 
for the A’s since 1988, but be feQ 
from a career-high of 51 in his 1992 


snapped at a reporter: “Do you 


want to write his obituaiyT 
Indians 10, Twins 6: Eddie Mur- 


AL ROUNDUP 


Cy Young Award-winning year to 
36 last season. The submarining 
right-hander also blew 10 saves last 
year, the most since he took over as 
the team's closer in 1987. 

Now, 15 games into the 1994 
season, be is searching for his first 


save or victory. 

In the ninth, pinch-hitter Andre 
Dawson drove a ball to deep center 
field off Eckersley, scoring Scott 


Cooper, who had angled and taken 
second when Ruben Sierra hobbled 


second when Ruben Sierra hobbled 
the ball in right. 

Dawson, who sat out two 
straight games with a hamstring 


injury, limped into second base on 
the play and was replaced by Scott 


Fletcher. 

Then Otis Nixon doubled, scor- 


ing Fletcher. 

“I have a strike mentality and it 


comes back to haunt you,” Eckers- 
ley said. “I live and die by it, and 
I’ve happened to die the last couple 
of times." 

Oakland's manager, Tony La 
Russa, said Eckersley is “obviously 
struggling. 

“WUsee what we have to do to 
get him right,” he added, then 


ray homered from both sides of the 
plate for a major-league record 
11th time and moved into 20th 
place on the career home run list as 
visiting Cleveland won. 

Murray, 38, hit a three-run 
homer batting left-handed in tbe 
first, then from the right side in the 
seventh bit a two-ron shot that 
snapped a 5-5 tie. 

The first homer moved Murray 
past Dave Kingman on the homer 
list with 443. The second broke 
Mickey Mantle's record of hitting 
home runs from both sides in a 
game 10 times. 

Angels 11, Orioles 8: Eduardo 
Perez homered twice, driving in 
four runs, and Bo Jackson mt a 
three- run shot as California won in 
Baltimore. 

Jackson made it 6*1 in the fifth. 
Perez, who had homered in the sec- 
ond, also hit a three-run drive in the 
eighth. He had hit four homers in 
180 at-bats last season, but also hit 
two last week in a victory over 
Toronto. 

Yankees 4, Mariners 2: Mdido 
Perez pitched New York’s first 
complete game of the season, with 
a six-hitter, and Danny TartabuQ 
hit a two-run homer against visiting 
Seattle. 

Brewers 6, White Sox 4: Dave 
Nilsson homered and Turner Ward 
hit a two-run double as Milwaukee, 
playing at home, ended Chicago's 
winning streak at four. 



w 

L 

Pet. 

GB 

Boston 

10 

5 

M7 

— 

Toronto 

iff 

S 

667 

— 

Baltimore 

g 

6 

571 

IVj 

Now York 

8 

6 

571 

Ito 

Detroit 

5 

10 

333 

5 


Cootnd DMsmm 



Cleveland 

5 

5 

615 

— 

Chicago 

» 

6 

600 

— 

Kansas City 

7 

» 

535 

\ 

Milwaukee 

7 

7 

500 

114 

Minnesota 

5 

11 

J13 

4 Mi 


West Division 



■ California 

8 

8 

500 

— 

Oakland 

7 

8 

667 

to 

Seattle 

5 

9 

557 

2 

Texas 

4 

9 

JOB 

2U 

NATIONAL LBABUB 



Bast Division 




w 

L 

PCI. 

OB 

Atlanta 

13 

3 

513 

— 

New York 

B 

7 

533 

4U 

PMIadolphlo 

B 

S 

500 

5 

Florida 

7 

5 

Mr 

Stt 

Montreal 

7 

9 

638 

6 


Central DMstoa 



Cincinnati 

9 

4 

692 

— 

St Louts 

9 

5 

643 

to 

Houston 

8 

B 

571 

IVj 

Pittsburgh 

6 

7 

662 

3 

Odcago 

3 

10 

J31 

6 


West DhrMon 



San Francisco 

9 

7 

563 

— 

Colorado 

7 

7 

500 

1 

Lae Angeles 

7 

9 

638 

2 

Son Diego 

3 

14 

.176 

4V» 


HRe-PMhxtoipMa HoJHns [21, Daulton (61. 
MMftral 206 720 0W— S 70 O 

San Hnn oil on ms » 2 

Hill. Scott (01, Rotas Ml anti Flefchor.SMftr 
(9) s Whitehurst, Sager (71 and Austin;* dark 
(7). W— Milk >1. L— Whltahwrt, 1-3. Sv— So- 
las (2). H Rs — M om real. Floyd 111, GriBam 
(1), San Dim aark (2), Chmtrocco (31. 
NOW York 001 DM on- > II 1 

loo Angeles m sis n»-i3 is o 

Gooden, Liman <«j, JaXurst (7) and Sttn* 
noli; HarsMser.Doal (BI.Gatt (9) and Piazza. 
Pimconi.w— Hersniaar.l-aL— Gaoam.2-1. 

HRs — Now York, Ryan Thompson 157. Los 
Anotlms. MandMf (21 . 


■Rw Michael Jordan Watch 


THURSDAY'S SAME: Jordon wont l-tor-3 
with a slnflle-an RBI and two strikeouts. Na 
balls worn till to Mm In right field. 
SeASON TO DATE : Jordan Is Wtttng 433 (IV 
tor-337 wtffi fhr»0 runs, hwa RBixtOmnaik*. 
11 strikeouts and 4 stolen bases. 


Japanese Leagues 


control Leone 
W L T 


YornluM 0 4 0 

dionteW 6 3 0 

Harsh In 4 7 0 

Yakut! S 0 0 

Yokohama 6 6 0 

Hiroshima 5 6 0 

Friday's Results 
Yomlurf 4, Hanshln 0 
Chuntctil 7, Yakult 4 
Yokohama 7, Hiroshima D 

PodflC LHtM 
W L T 


Pet. OB 

647 — 

JUS Ilk 

J64 3 Vs 

ass m 

SOB 7 

ASS 2Vj 


Thursday*! Una Scores 


To oubscribo in Franco 


just coll, toll free, 
05437437 


AMERICAN LBAOUE 
Mottle 000 HI 007—2 < 9 

New York ON 290 Mu- 4 10 3 

Boslo and Wtoon; Perez «md Stanley. 
W-Pera M. Lr-Basta. M. HRs-decttl*. 
TJMorllnez (11. New York, Ttrtabull (4). 
Oakland HI NO 000-3 10 1 

Boston ON OM 003-6 w 1 

WIN. Ontiveros (61. BAseoe (7). ecfeorafev 
(fj and SMnbadu Hoefcsth. Quanirtir (4), 
Bankhead ton and Valle. W Bankhead, H 
L— Cckerstav, 04. 

aovotaad 21 * loo «i~Mio 0 

Mhmeaofa 031 001 190-6 5 1 

Clark, Plunk Ml and Pena; Mahomes, Ca- 
non (51. Garoaazzo (71 and Parks, Wtibock 
(7). W-PtwtLM. L-Coston,M HRS— Cl*' 
vetand.Murrav2 (31, Sorrento (11. Minnesota, 
Backer <11. 

aicnw mi on oa3-4» 1 

Milwaukee m 200 02*-4 I t 

Fernandez . DeLeon Ml and LaVOinere, 
KOTkauMe (71; Bktred. Fetters (01, Lloyd Ml 
and Hamer. w—EMred. 3-1. L— Fernandez, l- 
3.5V— Ltovd (2].HR— Milwaukee, Nilsson (3). 
California 010 Ml N0-11 M a 

•aHUnera 001 0« >15-1 H 1 

BUUtderson. Butcher (91. Lewis (9} and 
Mveri; Rhodes. Williamson (51, Pennington 
(71 and Holies. W-BLAnderson, 24. 
L— Rhodes. (V3. HRs— California. Jackson (31, 
Perez 3 (51. Baltimore, Voigt (1). 
NATIONAL LEACM1E 

PMkRMPMfl on on oso-4 < o 

San Francisco no 0M MO-1 4 0 

DnJacksan and Daulton; Torres. Prey Ml, 
Menendez (91 and Mo n wartno. Reed Ml. 
W-OnLAsckson, 2-0. L— Torres. tbZ 


Dale! 7 5 0 

Solbu 7 5 0 

Nippon Ham 6 6 0 

Orix 6 6 0 

Lotte 4 7 0 

Kintetsu 5 6 0 

Friday's Resells 
Dalel A. Seftu 5 
Latte 7, Nippon Ham 0 
Kintetsu 6. Orix 0 


Pet. OB 

JN — 

303 - 

JOO 1 

300 1 

364 2 Vs 

355 IV* 


'•NHL Playoffs 


ICY. Rangers 2 21-5 

NLY. Iskmdars 0 IB-1 

Pint Period— 1, N-YRcrocrs. Tlkkanen 1 
(Noonan, Leetchl; Z N.Y Ran gers. Leetch 2 
(M. Messier. Noonan}; (pb). PsnattiesrTlw 
mocNYi IhoMlnsstfckl; KrumNYI (cross- 
ctiKklngJ; Wells, NYR (hooking). 

Second P o rt ed 4. N.YRangers. Graves 2 
(Leetch, Zubov}; (■mJ.AN.YlsIonderwFof' 
roral (DotoanxLVoskeDLN.YRanaan, Ko- 
valev 3 (Matteau, Leetch}; (ppl. Penalties' 
; Ferraro, NYl (h-tartne); Noonan. NYR 
(roughing!; Hogue, NYl (rounMno); HexML 
NYl, served by Me limit (delay at gomel. 

Third P eriod -A. N.YRangen, Graves 3. 
Penalties: Kovalev. NYR (Moh-atfcklna); 
NaonoiuNYR(NaMim)iActan. NYl (rough- 
ing); Croon, NYt (tripping); Thomas. NYl 
(cnna-diBCklne). 

Shots on goal— Rangers J- 1 0-5—7 8. island- 
ers 6-1M-SQ; power- Ptar opportunlties- 
— Rangers 3 at 7; Islanders 0 of 3; goalie*— 
Rangers. Richter, 34 (22 shots-21 saves}. Is- 
landers. Hextoll, 0-9 (15-131. 

Hew Jersey l 10— a 

Buffalo 0 01—1 

Pint Parted. KJ.- Richer 2 (Dowd. 


Chorskel; Penalties iDoneyka, NJ (Interter- 
enart; Map; lay. Out (hoe klnelt Lemlevx, NJ 
(cnss-checXInfi}. 

Second Pertod-NjMitwUn l (McKay. 
Carpenter}; Penatttn: Pekoe, NJ (rough. 
km>; Magllny,But (rough Ins) ; Carpenter, N J 
(trtoplna}; McKav, NJ (hhtfvmtcktng). 

Third Pertod— B-Maglinv 3 (Hasnrchuk, 
Badger); (pa). Penatttes:Carpenter, NJ 
(hooking): Ray. But (elbowfngl; MMer- 
mayer, NJ (tripping). 

Shots on goal— NJ. 71-8-7—24. B 11-9-70-30; 
PuwrdB 7 epp art ilMWes— NJ.0ot2i Blots; 
goalies— NJ.Brodvur 2-1 (»ahats42rom). 
8, Hose* 7-2 (26-341. 

Boston 3 11—4 

Montreal 0 35—3 

First Period— B-SmoJ Irakli (Oates. Wesley); 
(ppl. B-Knlpscheer 1. B-RaM MshJPsnol- 
HesiDeslardbu. Man (holding stick); L*- 
Cialr, Mon (Werterencel ( Donata Bos 
(sttshHig); I at rale. Bos (rouaningl. 

Second P erio d ■ M Brunet I (OeHardlns, 
Kem); B-Hughra 1 (Murray. Stumpell; M- 
Koane 2 (Brunet, Carbonneau); M-Dtarm* 1 
(DIPIetro); B-Murrovl (Hughes. Stunwel); 
Penafttns.'Hetnza. Bos (roughkwl; BrfitoeCt 
Men (rouehlne)/ lafrate. Bos (reuohtng); 
Keane. Mon (holdlflg). 

Third Period— B>ReM UenlPenaltv:Ro. 
Oorts. Bos inaUUtgl. 

snots on goal— BMW— 26.M9-12-6— 27;pow- 
er-Pkty apportgeffles-B 1 or 3; M 0 at 4; 
goalies— B, RlendHu. 14 (27 shotwH saves). 
ML Tugnutt, D-l 12540). 

Pittsburgh 5 88-4 

Washington I 11-3 

First Period— None, penalties: Ridley. Was 
(Interference); Jour, Pit (goalie Interfer- 
ence); Hatcher. Wes (stashing); Lemtaux. 
Pit (slashing); D. Brawn. PH (roughing); G. 
Brawn. Pit (roughing); Jongs, Was, Gtums 
minor (roughing); Reekie. Was (tripe In*); 
5ondstran, PH (stashing): Konowriehuk, 
Was (Interference). 

Second period— w-Rs*Ue 1 (Poulin. 
Mfller); [in 1 Penalties ;Jenn)ngs. Pit (Intert 
feronce); u. Somuelssan. PH (hooking); 
Kanawa Ichuk, Was (hooking); 5taney, was 
(hohtlna); Pittsburgh bench, served by 
strain (too many meal; K. Somuelssan, Pit 
(Meh-otfchlng); Hatcher, was (trtpglnel. 
Third Po rt ed w nee M eBMnlPenatHes: a 
Samuel swn. Pit (stashing); Sondstram, pit 
(roualdno); Kanmotchuk. was (roughing). 
Shots oh goat— P 15-12-6-27. W 4-104-11/ 
powofPtaf up sort wi llt ss P Bat6;Wflat7; 
goe oes p , Barroao, 14 (17 shott-ie saves). 
W. Beauare, 24 (27-37). 


WESTERN CONPBRENCR 
MWtMit Division 



W L 

Pet 

OB 

v-Houston 

SO 22 

J25 

— 

s-Sar Antonia 

54 26 

,675 

4 

x-Utoh 

■ 51 29 

638 

7 

x-Oenvor 

41 39 

513 

17 

Minnesota 

30 40 

JSO 

a 

Dallas 

11 6* 

.138 

47 


Pacific Division 



i-Seattto 

61 19 

763 

— 

x -Phoenix 

54 24 

673 

7 

x -Golden State 

49 31 

613 

12 

»-Porffand 

46 34 

573 

IS 

LA. Lakers 

33 47 

A13 

28 

Sacramento 

27 S3 

538 

34 

LA-Cllpuero 

27 S3 

J3B 

34 


Yamaha Holding On in Whitbread 


SOUTHAMPTON, England (AP) — Yamaha held a further reduced 
lead of 119 nautical miles over Intrum Justitia on Friday as the ileeft 
neared the finish of the fifth leg of the^ Whitbread ’Round thie World Race 
at Fort Lauderdale, Florida. 


Gatida 93 Fescanova was in third place, 27 snles behind Intrum' 
Justitia, while Merit Cup continued to lead the Mas class yachts, 37 
miles ahead of New Zealand Endeavour. 

% Ecureuil Poitou-Charentes 2, the revdmionaiy French sailboat skip- 
pered by Isabelle Aotissier, was expected to reach port Friday and easny 
break the New Yak-to-San Francisco speed record twice set in 1989 after 
standing since 1854. 


Endeavour. 


NBA Standings 


Kllnchsd ben conference reconi 
x-dfneft*d Mantt berth 
v-eltncheil Division mis 

THURSDAY? RESULTS 
PMMMfftlO 22 23 II 19— ■> 

New York 22 23 41 36-130 

P: Perrv 5-11 1-4 12. W eathonpoon 7-K 44 
li Wool ridge 5-15 2-4 TL N.Y.: Ewing 13-1504 
26. DavH 5-14 1-1 19. RebogiMl-PMIadeWita 
51 lAnstln 10), New York 65 (Ewing 15). Al- 
Ntts— PMIadelehta 14 (Borros (], New York 
37 (Hamer 9). 

Charlotte 25 26 35 W-95 

Boston 25 30 24 15-19 

C: MoumJna 6-T2 9-70 71, Bogun 6-17 1-2 11 
B: Pax 3-10 741 A Brawn 6-11 24 14, Gambled 
15 44 17. Rebo u nto- ■Chartot t s 59 O-Johneon 
131, Boston 51 (PartstiU). Assists— Chartotte 
20 [Rogues ti, Boston 23 (Brawn 71. 

Atlanta 17 21 IS 36-49 

Miami 26 1| 26 34-14 

a: Mann tag 8-U4-8 21, Ferre) 18-72 4-4 20. M; 
Rice M5 WIT, Smith 7-M54 KMNikh- 
Aftanta 41 (WIUU 9t. Mtaml 54 (Smith 9). A*- 
tilts— Attanta 25 (Btavlock 5), Mtaml 21 
(Shaw 8). 

Dolkn HUB 43— loo 

Houston » 21 31 23-136 

D: Joriaan 6-1224 M, Campbsll 6-12 1-1 13. 
H: Horry 9-T3 i-i 20. Olaluwan Ml M 21. 
tUbomds-OaikuSS {williams n, Houston 65 
(Olaluwon 14). AMW6- Dodos 24 ( Mdshbum 
i), Houston 37 (Maxwell, Cassell 7). 

■acramiate 21 22 il 2B-26 

OeMtn State x 33 S3 34-13) 

S: Tlidal* 616 1-1 17, Rfehmtmd 5-15 1-1 12, 
WeM 5-125-0 12. Smith 543-1 12.0; Grover 6 
12W l9,Buoehler7414 laRefeaunds-Sac- 
rafMnto50nMUanl1),GaMM State 61 (Ow- 
ens 12). Asststs— sacra memo 21 (WM* n. 
Golden State 31 (Mullln. Sorowell 9). 
Portland 21 35 M 26-111 

Utah 35 29 32 31-121 

P: Strickland 61354 17, Drtxlir 9-22 13-14 31. 
U: Malone t-1754 21. Stockton 7-166720. Honw- 
atk 610 5-921 Reboondt-PorttoidU (DTOMor 
12), Utah S (Malone 13). Assiits— Portland 2S 
(Strickland 71, UMh 27 (Sladdan 9). 


Miller Wins 2d Gymnastics Crown 


BRISBANE, Australia (AP} — Shannon Miller of the United States 
reduced two spectacular vaults Friday night and won the women’s all- 


produced two spectacular vaults Friday night and won the women’s all- 
around title at the World Gymnastic Cbampknuhips for tbe second 
straight year. 

Lavinrn Mtioscrviri of Romania, who was neck-and-neck with Miller 
throughout the competition, won the silver medal with 39236 points, just 
0.038 behind. Dma Kochetkova of Russia got the bronze medal. 


For tbe Record 


Jean Loris Guepy of France shot 4-under-par 68 for a two-stroke lead 
over Rolf Muntz of the Netherlands and Wayne Riley of Australia in the 
Catalonian Open in Pals, Spain. 

Mike Springer shot 8-under-par 64 for a one-stroke lead over Hale 
Irwin, winner of last week’s Heritage Golf Classic, in the Greater 
Greensboro Open in North Carolina. (AP) 

CUford Raoer, Louisville’s AH- American center, said he will forgo his 
senior year to enter tbe NBA draft (AP) 

Pelt, 53, said he plans to marry Asriria Nasdmento, 33, whom he has 
known for 10 yeara> at die end erf April. The former soccer star was married 


to Rosemary Cbolby from 1966 until a bitter divorce in 197S. (Reuters) 
SU Par adtoe of France drew the inside post position for Saturday’s 


inside post position for Saturday's 
Sl.I million Keio-hai Spring Cup, the race in Tokyo opened to foreign 
horses this year for the first time. (AP) 


Kan Ryan.pltcher, tram Earaiotaaf tbe PlorL 4 
do st. League. " 


■ASTERN CONFERENCE 
Atlantic DhrMon 



W L 

Pel 

OB 

yMewYork 

55 25 

680 

— 

frOrtondo 

49 31 

613 

6 

x-Now Jersey 

44 36 

558 

11 

x-Mtaml 

42 39 

519 

13W 

Boston 

IT 49 

588 

24 

PMladetoMo 

24 St 

596 

31 

WeshtaPtan 

as 57 

JOB 

27 


Central DlvMrti 



x-Atlanta 

54 25 

691 

— 

x-Chlcago 

a 25 

688 

to 

x-lndtana 

45 35 

563 

ion 

x-Cleveltmd 

45 35 

563 

ion 

Chartotte 

40 40 

500 

15to 

Milwaukee 

20 60 

550 

35to 

Detroit 

20 60 

550 

3*to 


MOITTC CARLO OPEN 


Evgeni KafetnDcov, Ruaita.cM.DavM RncL 
Czech Republic 74 (Ml. 64; Andrei Medw- 
dev M), Ukrotacdef. Jim Courier Ml, UJL 67 
(5-7). 7-5, 74 (74); Staton Edbcrg (2), Swed e n, 
det.nwnas Muster (9), Austria, 67 (8-131,74 
(74). 64; Sergl Bruouera (5), Spain, dot. 
Goran Ivanticvfc (4), Croatia 6A 63. 

BARCELONA LA PAMJLIA OPEN 
taw ert Stagtai ta t o rt u rt lnal i 
Arantxa Sanchez vtaarlo (1 ), Spain, doL Juke 
Halard W, FTOnot, 6-1, M; No Mated Croatia 
deLCandilta Martinez (2), Saakv 64, 63; Mag- 
dalena Maleeva (3). BvtaarlatM. Ann Qroee- 
im U^, 6ft 64; sabtae Hadt (4), Germany, 
daft Potrfcta TaroWnt Aroanftaa 64 64 


AUSTRALASIA CUP PINAL . 
India n. PakSitaN 

Friday, to Sbertah, United Arab Rmtrata 
Pakistan Inninai: 2566 (50 oven) 

FIFTH TEST 

■ngtogd n. We*t ImBea Lrat Day 
Ttondnir In 5t. Jetarc Aaffgao 
England tot Innlmn: 293 all out 
Wert Inc&ei 2d hmlnaa: 434 
Wert Into) win aerira 3-1 and retain the 
Wtaden Trophy 


BASEBALL 
mnirtcan liod— 

Baltimore— A cttvatod Kevin McOahea 
pitcher, from extended raring training and 
anlgned Mm to Rochester, IL 
BOSTON— Recalled Bob Zupdc, outfielder, 
from Pawtucket, IL Oottaned Grog Bkmer, 
eutfletder. to Pawtucket. Sent Ricky Trilcek. 
ortcfur. to New Britain of the EL ItoaalfM 


CHICAGO— Recalled Stove Sax, oHKfv 
plow, from Birmingham ot the SL activated 
h im fr om WiolSdavdlaaMadttot and renuert- 
•d walvora on Mm tor ttwpwpowa* granting 
Mm hto unconditional release. 

TEXAS Sent Jon Shave. tatWOeMoOkla- 
hotra atY of the AA- 
TORONTO — Purchased contract of Darroii 
HMl pitcher, from Syracura of tho- IL Swr 
Brant Bowen, autfleldor, to KnaxvHtoerth* SLl 
Sent Paul Spallaria Pitcher, to Syracuse. IL 
Na tional Leasee 

• N.V.METS Ac oulrod Mike Cook, Pffriwr. 
from Baltlmoro and sent Mm outright tottop 
talk. IL 

HOCKEY 

National Hockey League 
BUFFALO— Recalled Markus Kotterar. 
eoaltender; Denis Tjycvrov, d ef e ne e m an; 
Jason Young, left wing; and Doug MaodonaM 
cantor, from Rochester at the AHL 
DALLAS— S ig ned Emmanuel Fernandei. 
goalie, to 3-yaar contract. 

TO RONTO— Anlgned Prank Blaknws. I**f 
wing, to st. John's of me AHL 


DENNIS TBE MENACE 


PEANUTS 


CALVIN AND HOBBES 


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INTERNATIONAL HERALD TRIBUNE, SATORDAY-SUNDAY, APRIL 23 - 24 , 1994 


Page 21 


■* * 3 ? 


European Basketball Will Gain From Greece’s Championship Loss 


By Ian Thomsen 

Herald Tribune 

G««..O^i f d C ' Ub ' r0 “ 

■^ Came a P“»>Mc con- 
eK^« 2L aor made ibe Yad 
E3SL?**- T** 3.000 Greek fax* 
“»*e the arena were only JE5LS2 


coach, Yamus loannklis. He is one of the 
most successful coaches Greece has ever 

known, but in this Final Four be 
to have more talent than he could han- 
dle. Tarpley, in effect, was crowded out 
by his own teammates on the from line. 

Here is one of the NBA elite who. at 
29. has afl of his skills intact — more 
skills at his height, 6-9, than Europe has 
probably ever seen — and he is as mod- 


ules in the past, he lacked the confidence 
to push himself through a bad night that 

aw him make only 5 ofl 6 shots from the nc not spent toe game questioning nanseu u aiani nave to dc mai way, not wuu Oniv ,hrni«Mnd fans of 

field. His misgivings were revealed each near ibSdesert 5^3-poinTuL 14 seconds left and Tarpley a^ble to 

time he openly cursed himsetf fa missing In tire final 1:09, Badalona was able to score. At this point he wasn't even ask- .he nfrk^pinar^ 

a junq> shoe It is not the land afpanic recover three of its own misses - a ing Tor the balLIi went to. of all people. 

seen from a player of his experience. scoop shot by Martinez and Michael Paspalj, who was smartly fouled by ^— P 5 c °“ nl O TOe ^ ?TT 

He could not order one of his team- Smith’s dp, each of which appeared Smith with 4.8 seconds left. Paspalj the Spanish victory. Inc Ah- 

nes. Paspalj or Fassouias, to exchange good beforccuriing off the rim— before shoots free throw the way a drunk Final Four Te am was announced, and 
mtions with him. But bis coach should Smith drove in and Olympiakos' entire leaves a bar. After he had missed the first Badalona was represented only by its 
ive. When the great players are missing frazzled defense seemed to surround of his one-and-one attempts, the ending P°hil guard, Rafael Jolrcsa. Martinez 


Those of setf-def eating. Pfo^bly ever seen — and he is as moti- 

TuesdavnioK^P ,alc ^ ba ^ triumphed yated as any foreigner could be, because 
at rh** v_ - over “tor rivals grouped “ e wan *s to use (his season’s final mrm ih 
rad , of the arena, as “ Ws springboard bade into the NBA. It 

the^mifi^i i Panathinaikos in was , obvious Ik had put a lot of pressure 
_ seminnal. In the final the on him.sy.lf and eiwn hie rwr«m«i f-o_ 


Most likdy, Badalona wouldn't have 
beat In contention in the final utioute had 
be not spent the game questioning himself 
near the desert of the 3-point line. 

In the final 1:09, Badalona was able to 
recover three of its own misses — a 
scoop shot by Martinez and Michael 
Smith’s tip, each of which appeared 


He also had the coolest head in the 
game. His line-drive 3-pointer won it. 

It didn’t have to be that way, not with 
14 seconds left and Tarpley available to 
score. At this point he wasn’t even ask- 


cause, inexplicably, the clock had not 
been restarted for several seconds. 


The Associated Press 
Miami is assured of eieht 


!^r“r~ na1 ' « toe final, the Panathin- °“ hunsdf, and given his personal fa 

WjssifciSBS ii pa * r • ui ft 

* Gam PIa > o£fs ’ 
At Hawks’ Expense 

Kkdv these JPtoutes. More Miami is assured of eighth place in 

S^h^^ ( ^ n ril ^ u P sets the Eastern O^eren^an/toy 

SShfflS 2 ' ™ Udien “ S " Si 

“Then»\ , season Thursday night with a 94-89 

on •hTwiiSS"* a ! - 1 m ° re P res ^ ire victory ova- the Hawks, who could 
emum KHaDed stars m Europe than have won the East title with victories 
“ys one of the best in their last two games. 

whose 

beat PC Barcelona. 1IXW3 inltaS! ‘T’ wiuch “B" 1 »*> MUenhoB 
game for third place. “I„ E^ooeSSn! when “ g0 ‘ ^ Joh “° n “ d 
bigdy take most of the fault for losing, mnnirniro “ 

and most of the credit for winning NBA BJGHUGkil^? 

“The people don’t know the impor- .. / . , ... 

lance of the sixth man coming off of the Moummg back from injuries, 

bench over here. Or thatthe star is not ^ ^ tn them sxlh year,also 

going to score tonight, but he’s going to 

draw two men which is going to m«5» it J* 81 for toe first time m 

easy for another guy to score. But it’s four 1x10 ^ scason ’ 
getting better. They're starting to realize “When that buzzer went off, c hill* 
that it’s more than just scoring.” ran through my body,” said Glen 

Hnw pjs» ,« . Rice, who scored 21 points, three on 

gmBmennalcMas.B^ffiTTte 

stalled a system they believed in. Like all Atlanta now needs to beat Orlando 

upsets, it demanded offensive efficiency and have Chicago toe one of its last 
— a fast stan was mandatory — and ^ Sames. The Bulls have the tie- 
Olympiakos provided Badalona with over toe Hawks, while 

easy shots from the b eginning . The *e Hawks have the tiebreaker! edra 
Greek team’s big front lineofRcry Tar- over jfae New York .Kmcks. which stiSl 
pley, Zarko Paspalj and Panayotu Fas- could ^eak mto first pkee because 
soulas was in no mood to play defense toqr play Chicago on Sunday, 
on the perimeter until Badalana’s 34- ‘'Now we cheer for the Knicks, 
year-old center, Cornelius Thompson, something I never thought you’d hear 
and Ferrari Martinez — at 2.13 meters, me say,” said the Hawks’ center, Jon 
or 7 feet, be was effectively a small Koncak. 

forward — began plopping in shots from The tram that earns the No. 1 seed 

IS feeL Once Olympiakos’ big men were faces No. 8 seed Miami in the first 
forced to defend the 3-point line, there round.. _ 
was a lot more room inside than anyone Atlanta shot just 40 percent, and 
might have expected for Badalona — Moakie Blaylock missed two open 3- 
and more chances for offensive re- pointers in the final IQ seconds with 
bounds, which ultimately allowed them [he score 92-89. 
to win. Danny Manning had 21 points af- 

Just as Obradovic was figuring oat ter going scoreless for the first 21 
how to mnTtmiyi* the strengths of Ins minutes. Duane Ferrell added 20 
smaller, quicker, more cohesive team, so points for the Hawks, 13 more than 
was Olympiakos being lei down by its his average. 


___ t; •• A . * ,7 r 7. V : T» ,iw nill 6 “vi" uhihwiuh v* -• uuwtvra. i«p iwm uquublc SUW. xm\L wv iOiiCU, a LwlJ 

on nunsetf, ana given ms perscmal fail- the NBA in rebounding a few jears ago. like a bigger, less-lean Charles Barldey. ic argument would have ensued, be- 


forward Alexander Volkov and 


Olympiakos guard George Sgadas — the 
latter being named defensive player of 
the tournament for his work against Ga- 
G$ in the s emifi nal. 

Then the most valuable player award 
was announced and the winner was none 
other than Paspalj. He appeared genu- 
inely embarrassed. His eyes wear wide 
and he pointed at his chest, hoping a 
mistake had been made. In fact, the 
award ballots had been cast at halftime, 
when the game was tied and there was 
every reason to believe that the best 
scorers would win. But then there's a lot 
more to the game than that. 



The Heat clinched their second 
playoff berth and their first winning 
season Thursday night with a 94-89 
victory over the Hawks, who could 
have won the East title with victories 
in their last two games. 

Miami’s victory eliminated Char- 
lotte, which surged into contention 
when it got Larry Johnson and 

NBA HtGHUGHTS 

Alonzo Mourning back from injuries. 
The Heat, now in thor sixth year, also 
made the playoffs in 1991-92. They 
bear the Hawks for the first time in 
four tries tins season. 

“When that buzzer went off, drills 
ran through my body,” said Glen 
Rice, who scored 21 points, three on 
free throws in the final 12 seconds. 
“This has to be the high point of my 
professional career.” 

Atlanta now needs to beat Orlando 
and have Chicago lose one of its last 
two games. The Bulls have the tie- 
breaker edge over the Hawks, while 
toe Hawks have the tiebreaker edge 
over the New York Knicks, which stul 
could sneak into first place because 
they play Chicago on Sunday. 

“Now we cheer for the Knicks, 
something I never thought you’d hear 
me say ” said the Hawks’ center, Jon 
Kqncak. 

The team that earns tin No. I seed 
faces Nol 8 seed Miami in the first 
round.. _ 

Atlanta shot just 40 percent, and 
Modrie Blaylock missed two open 3- 
pointers in the final 10 seconds with 
the score 92-89. 

Danny Manning hud 21 points af- 
ter going scoreless for the first 21 
narrates. Duane Ferrell added 20 
pants for tire Hawks, 13 more than 
his average. 



J 




“Obviously both o*™ had a lot al 
stake," Koncak said. “It was a play- 
off-style game. " 

Knicks 130, 76as 82: New York 
matched the largest victory margin in 
team history, with Patrick Ewing get- 
ting 24 of lirs 26 pants and 14 of his 
IS rebounds in the first and third 
quarters, when visiting Philadelphi a 
was outscared by a combined 73-40. 

The Knicks go into their final two 
games enmeshed in controversy. 

Earlier in tire day, reserve forward 
Anthony Mason was suspended in- 
definitely fa- questioning coach Pat 
Riley’s coaching strategy. 

Rockets 126, Mavericks 100: Ha- 
keem Otajuwon bad 21 points, 14 re- 
bounds and six blocked toots before 
sitting out the fourth quarter as Hous- 
ton dinched the second-best record in 
the NBA. 

Seattle is assured of the best record 
and tire Rockets locked up second 
when Atlanta Josl 

Hornets 95, Celtics 89: Charlotte's . f 
playoff hopes carded despite w inning 
m Boston behind Mourning's 21 
points and 1 1 rebounds. 

Warriors 121, Kings 96: Jeff Grayer 
scored 19 pants and Jud BuecUer 
had 18 in tlw fourth quarter as Golden 
State won its seventh straight, clinch- 
ing sixth place in the Western Confer- 
ence by defeating visiting Sacramento 
a seventh straight time. 

Jazz 122, Blazers 111: Jeff Homa- 
cek scored 23 points, including nine in 
tire third quarter when Utah, playing 
at hone, went ahead for good against 
Portland. 

Kad Malone had 21 points and 13 * 
rebounds and John Stockton finished 
with 20 points for the Jazz, who won 
for tire sixth time in seven games fay 
bolding Portland to 43 percent shoot- 
ing. 

Clyde Diexler led the Blazcn with ' ■ .-«• • . • .«* 

31 points and 12 rebounds. Rod ’■ •• • • >&.; /I 

Strickland added 17 pants before be- SM-Sf V* 3***-rr*- > - t .-i ‘ ‘.V 

ins ejected with two technical fools in . 0008 

the third quarter. Grant Long stole the baD from a displeased Stacey Aogpioii, helping ruffle the Hawks. 




Rangers Win, 5-1, 
Close to Sweeping 
Islanders in Series 


The Associated Press 

Even if the New York Rj 
don’t end their Stanley 


eran Dave Reid put Boston ahead. 
3-0. Tugnuit allowed five of the 
first 13 toots into tire net, including 


drought, it looks like they'll have two from long range. 


the satisfaction of blowing out the 
New York Islanders. 


Roy was to leant Friday whether 
he world be back by the weekend 


„ A< k“ Graves scored twice, and or ^ for po^iy two weeks after 
Esa TMancn, Bnan Uemh and an appemtetomy 


Alexei Kovalev once each doing a 
5-1 rout Thursday night that rave 
tire Rangns a 3-0 lead in their first- 
round playoff series. 

“The idea is to eimrinnte your 
opponent as soon as possible," said 
forward Glenn Anderson. “Any 
good «****» has a killer instinct." 


The key for the Canadiens in 
their bid to retain their NHL title, 
Roy entered tire hospital Thursday 

STANLEY CUP PLAYOFFS 

with mild appendicitis. He was giv- 


The Islanders, who have never en intravenous antibiotics, which 
been swept in a seven-game series, doctors hoped would cure the in- 


face elimination Sunday, again on fection without surgery. 

their tome ice. Only two trams in “if be recovers, he can play as 

soon as he gets a few meals under 

^ bdt ’" Douglas Kirmear, 
1942 Toronto Maple Leafs agarnst ^ ^ doaor heea m 

Detroit m the finals, and the 1975 —u, « 

Islanders against Pittsburgh. ^ ^ 


Devils 2, Sabres 1: In Buffalo, 


Cqntals 2, Penguins ft Joe Ree- 
kie scored twice and Don Beaupre 


New York. Martin Brodeur £^77 

or «h«tc arxA N«, imn stopped 27 shots as visiting Pitts- 


stopped 29 tools and New Jersey 
killed off five of six power plays to 
take a 2-1 lead in that series. 

Stephane Richer scored at 19:01 
of the first period and Tommy Al- 
behn made it a two-goal lead 15:43 
into the second following Petr Svo- 
boda’s turnover. 

Alexander Mogfluy, who has 
three of the Sabres' four goals in 
toe series, scored at 4:($ of tire 
third. 

Brians 6, Canadiens 3: Ron Tug- 
rratt, playing goal for Montreal af- 


burgh was tout out fa the first 
time in 95 playoff games and 
Washington look a 2-1 series lead. 

“I think it’s a combination of 
their defensive play and Beaupre 
being a very good goalie," Pitts- 
burgh’s Mario Lemieux said. 

Reekie scored short-handed al 
14:11 of the second period, and 
Beaupre made it stand up in Ins 
15th playoff victory, tying Pete 
Peelers for a team record. 


i&JSt • 


mitt, playing goal fa Montreal af- With right minutes left, Beaupre 
ter Patrick Roy was hospitalized kicked away a shot by the charging 
with an appendicitis, allowed three Joe Mullen. He was not threatened 
first-period goals as visiting Boston thereafter. Pittsburgh managed 
look a 2-1 series lead. only five toots in the final period. 

Goals by rookies Bryan Smo- then Reekie sewed into an empty 
linski and Fred Knipsheer and vet- net with 16 seconds left. 


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Page 22 


INTERNATIONAL HERALD TRIBUNE, SATUKPAY-SUNPAY, APRIL 23-24, 1994 


DAVE BARRY 


Caution: Royalty! 


t 


Dog Day Afternoons: Hare Always Wins 


M IAMI — Recently I went to 
England on a selfless hu- 
manitarian mission to sell books. It 
was a very relaxing trip until about 
35 minutes after the plane landed 
at Heathrow Airport, which is 
when a British person cheerfully 
informed my wife and me that ter- 
rorists had been shooting molar 
shells onto the runway. Really. 
They have political organizations 
over there that, having apparently 
received public relations advice, 
from Charles Maouson, believe that 
the way to gamer public support is 
to bomb and mortar the public. 
“Hey!” the public is apparently 
supposed to respond. “Homicidal 
loons are trying to ldD me! I am 
feeling supportive toward than? 1 ' 

Shortly after we arrived, there 
were two more mortar attacks on 
Heathrow. None of the shells deto- 
nated, but I was starting to wonder 
about the quality of the airport 




Scotland Yard detectives wearing 
Sherlock Holmes hats, crawling an 
hands and knees, scrutinizi n g every 
blade of grass through powerful 
magnifying glasses, not noticing 
trucks rumbling past them with 
large signs that said “CAUTION! 
MORTAR SHELLS!" 

Anyway, the mortars were scary, 
but we had a MUCH scarier expe- 
rience in England: Somehow — 
probably because of another mas- 
sive screwup at the CIA — we got 
invited to ame at the U. S. ambas- 
sador's residence. We were the only 
people on the guest list whose titles 
were “Mr. and Mrs." Everybody 
dse was something like “The Lord 
Earl of Gwebbing and Her Wor- 
shipfulhood the Viscountess Lady 
Huffington Prawn-Armature." So 
when we arrived at the ambassa- 
dor’s residence, which is approxi- 
mately the size of Wales, but with 
more bathrooms, we were feeling 
socially intimidated. 


Fo rtunatel y the ambassador and 
his wife woe extremely nice, which 
was reassuring, as was the fact that 
they had three dogs (one mam, two 
backups) with no sense of etiquette 
whatsoever (“I know! Let’s sniff the 
viscountess!”). Nevertheless, when 
it came time to eat d inn er , 1 devel- 
oped severe Table Mannas Para- 
noia. I estimate that there were 27 

it turns 11 ^^^^ 1 ^^ formal 


dinners they have rules about whom 
you talk to: Before the mam course, 
you’re supposed to talk exclusively 
to the lady on your Irft as though she 

is Ihfe rtyyg f fagrinarin g human nn the 

planet, but when die main coarse 
arrives, you're supposed to drop her 
Hke used (hewing g*™ and talk to 
the lady (m your right- It’s amaring 
to watch the changeover- AH heads 
in the roan swivel simultaneously, 
like synchronized motorized elves m 
a Christmas display. 

Of course I didn’t know about 
thfc, so midway through the dinner 
I suddenly found myself having an 
nnimatwi conversation with the 
bade of the head of the lady cm my 
left, who, despite having been, only 
moments earlier, my closest per- 
sonal friend, no longer seemed to 
realize that I existed 

Speaking of exciting social ad- 
ventures: Several nights later, we 
were at a party, and the host came 
no and said. *Td like you to meet 


Salman Rushdie:" Really. Appar- 
ently ft»i«nan has turned into a ma- 
jor party So time I was, 

coo^^rat in fact wxradering if I 
would have been safer just staying 
at the airport. “So, Salman!” I 
wanted to say. “Perhaps we would 
be more comfortable if we were 
lying face down on the floor away 
from the windows!” 


But other than these few anxious 
moments, we had a wonderful time 
in England. They were having some 
highly entertaining government 
scandals. We Americans tend to 

have obscure boring complicated 
financial Whitewater-type scandals 


that nobody understands; whereas 
the British have scandals involving 
straightforward, dear-cut issues of 
obvious significance, such as high 
government officials paying for sex 
with fish. 

Speaking of food: The British are 
defimtdy getting better at cooking, 
and they have discovered the ice 
cube. Fortunately, however, some 


things have not change d: They still 
have the Royal Dysfunctional Fam- 
ily, and it is stiD a constant source cf 
ente rtainmen t. (The day we got 
there, Prince Charles made the 

newspapers by asking, an a tour of a 
cosmetics plant, if anybody wanted 
to — I am not making this up — lick 
mango butter off Ms body.) 

Rnlght-Ridder Newspapers 


Imenumonal Herald Tribune 

L ONDON — The young heroine of Hitchcock's "The 
Lady Vanishes” is limp with ennui although, as she 
says, she has had caviar in Cannes and sausages at the 
dogs. In “Notes Toward the Definition of Culture” T. S. 
Eliot describes a culture encompassing the whole life of 
the people, including Derby Day, the Twelfth of August, 
and dog races (as well as boiled cabbage cut in sections 
and the music of Elgar). 

Hitchcock was filming in 1938 when dog raring had just 
begun to count and Biot writing just after World War □ 
Mien it began to count again. Today, h is neither significant 


nor smart: the no-account pursuit of an uncatchable 
iTK^anicfli hare around an oval track, of interest only to 
promoters who see it as a potential leisure time money 
spinner and to those who, like Lam Thompson, simply 
low iL 

In her bode, “The Dogs” (Chailo & Windus). Thomp- 
son writes that dog racing now is seen as merely pictur- 
esque, “loved not with a passion but with indulgence." 
Thompson's bode has attracted attention not only be- 
cause, as a striking 29-year-old Oxford graduate wbo used 
to be on the stage, she seems an unlikely expert, but 
because ber expertise is real Her father, a self-made 
retired engineer, is a wefl-known racing greyhound owner 
and she used to write a sports column for The limes. 

The dogs, as dog raring is always called, is second in 
popularity oily to football in Britain, with 37 licensed 
tracks (and a good many unlicensed ones) running about 
50,000 races a year. But ft is rarefy seen on television and 
not covered in the daily press. The Times never allowed 
Thompson to write about the dogs. 

‘They do horse racing, which is basically the sante as the 
dogs — there is as much corruption and funny goings-on,” 
she driving through the night to Walthamstow stadium 

on the London-Essex border. "It’s just because the queen 
goes, I mean it has a completely different image.” 

The image erf the dogs is robust, raffish, working class: 
an excuse far betting rather than a sport (Churchill called 
the dogs animated roulette). It is never genteel often 
garish and more than a little louche. There are races 
afternoons and evenings. The dogs, Thompson says, cele- 
brate the life forces of expectation, hope, desire, greed. 

Her heart, she says, lifts each time she sees Waltham- 
stow’s gaudy neon facade. The race itself passes in a 30- 
second blur. What is left is the tension, the color, the idiot 
joy of predicting a hound’s ability to be second to a cloth 
hare. There is a steady roar bat none of the rowdiness of 
football matches because, Thompson says, at the dogs 
people are so interested in what they are doing. T think 
rowdy behavior is boredom or hoping for something that 
you’re not getting. You don’t get that feeling at the dogs.” 
It is an instant, and innocent, high. 

In Europe, there is ring raring only in Spain. Britain and 
in I reland where most of the dogs are bred. The dogs 
thrives in Australia, Mexico and the United States, where 
prizes are tag enough to attract the attention of the Mafia 
and the Boston thriller writer George V. Higgins. In 
En gland, the dogs is not a big money sport and therefore 
not of interest to heavy criminal although attra cti ve to 
those who, in Thompson’s father’s phrase, like to bob and 
weave. Right now the dogs is trying to dam up its image. 

"We like to see people win and come badc, v says Ann 
Aslett, a director ot The Stow, as Walthamstow Is known. 



SfcjrteoNort 


The dogs, according to Laura Thompson, celebrate the fife forces of expectation, hope, desire, greed. 


and a member by marriage of the Chandlers, dog racing's 
leading family and founders of The Stow in 1932. 

A decent racing puppy costs about £8,000 (512,000) and 
£25 to £35 a week in keep. Prizes are correspondingly small, 
with the Derby paying only £40,000, although the promoter 
of a newly refurbished track in Hackney. East London, is 
promising a £100,000 prize cue of these days. What tbe 
tracks need now is to get more viators: to get the leisure as 
well as the gambling pound. 

Greyhound raring is a descendant of hare coursing, a 
rich man’s blood spoil, and when it was brought to Britain 
from the United States in 1926 prominent owners includ- 
ed Viscountess Maidstone, die Duchess of Sutherland and 
W illiam Rhinelander Stewart. But, as Thompson points 

out, 1926 was also the year of tbe Gcoraal Strike and tbe 
dogs had an immediate appal for urban workers intoxi- 
cated by the lure of speed mid the bore of gain. The great 
dog Mick the Miller, wbo raced from 1929 to 1931. was 
applauded by the kmg of Spain and Grade Fields, starred 
in a film and to this day can be seen, stuffed, in London's 
Natural History Museum. By 1945 there were 74 regis- 
tered tracks and attendance figures rose to 50 mil linn: 
fewer than 8,000 attended the 1993 Derby. 

The dogs’ decline began in the late 1940$. The shining 
exception was the glamorous White Gtv stadium in Lon- 
don where the Duke of Edinburgh's dog won the 1968 
Derby, flash celebrities such as George Raft and Robert 
Maxwell held court, and Thompson’s mother was award- 
ed a trophy by Z$a Zsa Gabor. 

In the HHJOs the land the tracks stood on was worth 
more than the tracks. White Gty was razed in 1984. Later 
in the decade, yuppies graced London tracks, gambling 
and doing a bit of slumming At the same time, the media 
saw the dogs as an ideal subject for postmodern ironizmg. 

“I get very protective of the dogs when I see these 
people coming at it from their other lives, blithely ignorant 

nf fill* paingrafcng an-rrmnlafinn nf detail that has created 
both greyhound raring and the lives of the men that follow 
it," Thompson writes. 


She is an admitted romantic although sot unaware of 
(be cruelty of a sport in which a dog is considered 
worthless after the age of 4. She also sees the need to 
ensure the future of tbe tracks by attracting corporate 
sponsora in the manner of Covent Garden and Wimble- 
don. Tt’s not a threat to ihe docs — how could it be? — 
if s only a threat to one’s ridiculous nostalgia,” she says. 

At Walthamstow track. Ann Aslett, who is in change of 
marketing, shorn brochures for the Executive's Package 
with red or white wine and the Director’s Package with 
champagne, and fra the Goodwood Box and the Ascot 
Suite (when it wishes to sound respectable the dogs bor- 
rows horse raring names and its classic races include not 
rally die Derby bat the Oaks and St. Leger). 

In the cheaper ringside terraces punters dnnk beer and 
can cat veggie burgers. In the more decorous Paddock Grill 
we sit at tiers of tables overlooking the trad; eat hearty 
chops, bang bells to summon runners to place bets, and nib 
shoulders with the Chandler dan, including the watchful 
Jack who admonishes a diner fra swearing too loudly, and 
Frances, a bkmde veteran of 40 years of dog raring. “1 can 
land of imagine it, h doesn’t fill me with horror tire way 40 
years of anything dse does," Thompson says. 

Both Thompson and Ariett bet and sometimes win. A 
group of office girls has heart-shaped silver balloons 
attached to their chair s. The starter wears a horseman’s 
bowler and breeches and is even convincingly bowlegged. 
The dogs streak past, identifiable by their adored jackets' 
which match the traps from which they spring and, unable 
to stop, are caught by handlers when the race ends. The 
hare always wins. Except for (hose wbo go on to Charlie 
Chan’s nightclub, the evening is over by about half past 
10: a great right out. 

Thompson guides her car away from the neon and 
toward the steady darkness of London. She talks about 
her next book, a novel, and about what she calls the 
warmhearted materialism of the dogs. "It’s simple- ** die 
says. “I write books but I don’t like people who write 
books. I*d rather be here.” 


PEOPLE 


Sex, Lies and Ratings 

Arnolds Patchlt Up 

AH's fair in love and audience 
share. Roseanne Anmkl is dropping 
ha- divorce suit ^gainst husband, 
Tom, swing sbe was misled by $x- 
ap and Bcs. She asked fogtveacw 
from Tom ard from Em Sbvi, wbo 
was rumored to have been involved 
with Tom, but Roseanne did not 
fully retract allegations of j&use 
agamst Tom. She stare m ti# fafehly 
Sritcom “Roseanne” (iherewas ^ 
no word on whether she would in- 
state Tom as executive producer), 
and her husband has a new aeries, 
“Tran." Split up and together again, 
aO just in time for TV ratings mo nt h . 

□ 

The French edition of Vogue will 
be getting an additional American 
hand to rttnit. Gardner Bdbm^x, 
who had been an associate pubhsb- 
er of American Vogue, will tab 
over as publisher of Vogue France 
on June 1. This follows the ap- 
pointment of another American, 
Joan Jufiet Bock, as editor of the 

French fashion magazine. 

□ 


been discharged from a hospital in 
New York after surgery and treat- 
ment fra a bleeding ulcer. Onassis, 

64, said in February that sbewas 
suffering from non-Hodgkins lyn* 
pboma, a cancer of the lymph sys- 
tem. Her treatment for tbe cancer is 
now nearly complete. 

□ .. 7 ;. . 

The 50th anniversary at Ardor 
Miner’s debut on Broadway —well 
almost 50th — was celebrated with* 
reception fra the playwright in (he 
lounge at the Booth Theatre. "The 
Man Who Had AH tbe Lod£ 
opened — and dosed, after five pep- 
fotmances — at the Forest Theatre 
in November 1944. ”1 decided Id 
never write another play after that? A 
Milter tdd tbe gathering. His latest^ 


play, “Broken Glass,” will open at 
die Booth on Sunday. V * 

□ 

John Detner'is performing in 
Vietnam next month, on May I 
and 2 in Hanoi and May 4 in Ho 
Chi Mmh Gty. “It’s a money fos^ 
er,” said ins manager, Rffl Thonm 
“We're doing it because be and 1 
believe it’s the right thing to do.” ; 


KVTERNATIONAL 

CLASSIFIED 

Appears on Pages 6&21 


WEATHER 


POSTCARD 


Europe 


Forecast for Sunday through Tuesday, as provided by Accu-Wealher. 


Today 

Hfcfa Lon W 
OF C/F 
17MB 12/6 S eh 
11MB HOB ah 
I MM em ah 
20MB 11/52 pa : 
IB/M 13/93 pa 
19MB 10/50 ■ 
20MB 6/46 a 
20MB 10/90 0 

tun 6 M 6 a , 

17MB 7M4 ■ 
19MB 14M7 rti 
12/93 7/44 r 

13M5 MB r 
21/70 10/50 PC 
22/71 B/48 s 

2/71 9/48 ■ 

0/46 2/29 ■ 

16*1 11/52 «h 
22/71 17*2 9 . 
1BM1 11/52 * 
16/01 9/48 4h 

17M2 B/4B Mi 
21/70 11/52 pc 
13MB 3A7 a 
20MB B/48 ■ 
18M4 11/92 po : 
12/93 7/44 c 

17MB 13/55 pc 
20MB 11/52 Ih 
21/70 B/48 ■ 

307 -1*1 po 
22/71 10/50 a 
| 12/53 104 a 

11/52 2*5 s 

21/70 11M2 a 
8/48 3/37 a 

19M6 12/53 po 
18MB B/48 po 
19MQ 5/41 ■ 
20MB 1102 pc 


Lon W 

C/F 

11*2 ■ 
SMB Ih 
408 pa 
12/53 9 
11/52 ■ 
9/48 • 
8/48 PC 
TM4 pc 
■MS • 
7/44 ah 
12/53 ■ 

1*4 Ml 

5/41 Cb 
11*2 • 
11*2 pc 
10*0 pc 

1*4 o 
BM8 pc 
17*2 po 
11*2 • 
8/43 pc 
4*9 ah 
11*2 • 
2*5 • 
7AM • 
11*2 ■ 
4*9 «h 
12*3 k 
8/48 Ml 
B/4B k 
2*9 pc 
12*3 « 
0*2 « 
3/37 k 
B/48 pc 
205 k 
12*8 k 
8MB k 
6/43 • 
l 0/48 pc 


Oceania 



North America 

Warmer weather wHI surge 
northeastward Wo the OMo 
Valley and mid-Atlantic 
slates early next weak. A 
aaa breeze may cool Nen 
England for a ume. Heavy 
thunderstorms w9l rumble 
northward throu^i the cen- 
tral Plains early next weak. 
Heavy snow la possfcle In 
the northern Roddea. 


Europe 

A aoaMng nrti to Hfflly from 
Ireland Co Scotland Wo early 
next week. Locally heavy 
rains and gusty winds wfll 
buffet west ern France. Parts 
to London win be mUd 8 uv 
day. then turn cooler early 
nart week «rth a fen show- 
ers. Vienna to Wfcraaw and 
Stockholm wffl feature dry, 
vreim weather Into Tuesday. 


Asia 

Beijing through Seoul and 
Tokyo will have maMy dry. 
seasonably warm weather 
Sunday through Tuesday. 
Horn Kong to Taipei wfll be 
humU with scattered relna. 
Manfle and Bangkok wfll be 
vary worm. A stray shower to 
possfcle In Bangkok. Shge- 
pore will have scattered 

thunderstorms. 


Tcrtqr 
Mgh Lew 
OF OF 
34MB 28/79 
21/70 8 M3 

25/77 21/70 
34MS 24/75 
38*7 22/71 
22/71 5M1 

19*8 13*5 
90/36 24/75 
25/73 20MB 
1SM4 14*7 


Africa 

Mgtos 

OkpcTcmi 


21/ro 1BM1 pc 22/71 14*7 pc 
14M7 8MB pc 22 m 13*6 pe 
19MB 12*3 pc 19MB 10*0 pc 
22m 0M8 pc 29/77 11*2 pc 
32MB 3B/79 pc 82MB 26/79 pc 
23/73 13*5 rti 23/73 14*7 pc 
23/73 14*7 ■ Z7MO 15*9 pc 


Today Tnwiiiiinr 

H* Law W Mgb Lon W 

OF OF OF OF 

26M2 18*5 C 84/75 14*7 a 
29M4 12*3 c 26/79 10*0 a 
M/79 B MS a 22/71 BM6 ■ 
24/73 12*8 a 20/n 11MB a 
43/109 22/71 a 39/102 13*5 a 
87/96 20*6 • 37/98 22/71 a 


Latin America 

Today Tanonw 

Mali Lon W Wgh laa 9 
OF C/F OF OF 
AnmcMaa 23/73 WB2 a 2am 13*5 pe 

C— oaa 30MB 19MB pc 31MB 19458 pa 

Lkn 29/73 18/64 pc 24MB 19MB pe 

MntaoCty 24/75 11*2 pc 24MB 11/52 pa 

HfadfctonrtB 26/79 21/70 to 27MO 22*1 pc 

8an^o 25/73 «M6 ■ 24*5 11*2 pc 


19MB 12*3 po 20MB 13MB a 
tana uss a zura ibmi po 


lagatto: s-Bumy. p&partft doudy, frdoufly. rti ahew o ra. FO md nBncnw. insln. rt-mo* tontaa. 

8Mnon,Mce,w-Wnaiwr. Almapa,taracaato and d*a prodded by AewMMInr, toe. Olte4 


North America 
Andaaagi 11*2 '1 

Marta 22/71 1! 

Barton 17M2 1 

CNeago 22/71 11 


laeAre*" 20M6 13/55 
Mart 30*6 20MB 


Mr* York 19MB 

Plan* 34*5 

San Pian. 1509 

Sartda 14*7 

rounu i«*r 

V Mrt ki u len 21/70 


Homes for Gnomes, in Country Gardens and Suburbia 


By Barry James 

International Herald Tribute 

P ARIS — Hey ho! Spring is here, kind of. and 
it’s time to discuss garden gnomes. Whether 
yoa think they are adorable or thoroughly bad 
taste, the fact is that producing gnomes is rate of 
Europe’s bigger s mall, reaBy small industries, 
and the gnome population is exploding. 

Fritz Friedmann, president of the Interna- 
tional Association for the Protection of Garden 
Gnomes in Basel, Switzerland, estimated that 5 
million of them were produced last year. 

The real hone of pukka terra-cotta garden 
gnomes is Germany, said Friedmann, but mar- 
kets are being invaded by cheaper imitations in 
concrete, plaster, resin or plastic from Poland, 
Portugal and die Far East 
“They do not have the charm of the original 
German gnome, which is painted by hand and 
which has a very human expression," said 
Friedmann, who owns 60 of the little creatures 
and is the author of a new bode cm gnome lore. 

About half the annual German production of 
2 million gnomes is exported to places as far 
afield as Japan and the United States. But 
despite the popularity of Snow White and the 
Seven Vertically Challenged, garden gnomes 


have never succeeded in supplanting pink fla- 
mingos as the pr esiding spirits ixr certain kinds 
of suburban gardens in the United States. 

In many European gardens, however, they 
reign supreme. There are gnome museums, 
gnome festivals, silk-ties with gnome motifs 
and even a two-year exhibition oiled “The 
Gnomes are Coating" at tbe Schkxss Tran tea- 
sels in Austria, which is dedicated to the history 
and culture of nanology. 

According to Friedmann, a true garden 
gnome should be no taller than 68 centimeters 
(23 inches), have a gray or white beard, and be 
dressed in a red bonnet known as a zipfd, a 
green apron and big shoes. 

Jean- Yves Jonannais, a Paris art critic who 
has just written a book about suburban kitsch, 
found a species of garden gnome in the Renais- 
sance Boboli garden in Florence. He said that 
in aristocratic gardens, gnomes fulfilled the 
same function of warding off evil as the erotic 
statuettes of Hermes in ancient Greece or Pria- 
pus in ancient Rome. 

Ihe industrialization of tbe gnome-making 
process in Thuringia m Germany in the 1890s 
put gnomes in reach of the common man and on 
the road to kitschdom, said Jouammis, an assis- 


tant editor at the highbrow, magazine Art Press. 

But earlier than that, the gnome was adopted 
as a political symbol by the petite bourgeoisie 
in Germany in the 1 870s as a protest against the 
policies of B ismar ck. 

According to some nanotogjsts, the gnome 
probably originated in the iron and copper 
mines of Cappadocia, a land of strange moun- 
tains and cave-dwellers, part of modem Tur- 
key. Gnomes entered Teutonic mythology with 
the exploitation of mines in central Europeln 
tbe Middle Ages. >■ 

n^^^or^olityka, the gnome business has 
brought prosperity — hot also crime and drags 
— to the western Polish town of Nowa S6L Most 
of the town is engaged in turning out about half a 
million gnomes fra markets in Germany and 
elsewhere in Western Europe. 

The Polish gnomes are much cheaper than 
those made in Germany. But the Germans arc 
fighting bade on style mid quality. An adver- 
tisement fra tbe HeUsner company in Lamer- 
bach, fra example, shows an el egan tly dressed 
couple enjoying a glass of champag ne in a 
. bucolic setting. Beside them, a garden gnome 
proffers the ice bucket 


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ChiirtJgO«« 10811 Uccf tt rnute ln* 

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Sri Lanka 43tM30 g -cd m * 020-795-611 

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EUROPE MmniBEAST 

Armenia- 8*14111 Bahrain 800-001 

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Belgium* 078-11-0010 &nd 177-100-2727 

Bulgaria OMBOMOIO Kuwait 800-288. 

99-380011 Lebanon qrirtaQ 426-801 

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1-800-550-000 Colombia 
172-1011 irfraaBWw' 


15500-11 

- 8 * 196 aairadorw 

G uamS * 
060^890-110. flSJS? 2 

19^-0011 HoocW. 
_06ffWl 


Croatia** 

Czech Rep 

Denmark* 

Hntorf 

France 

Gcrmmy 

Greece* 

rtnn ga r y* 

Iceland** 


Co * Mp o»« gMMWI 

/GosaMcaSi u 4 

E cu ad or * 129 

El Salvador* 290 

Guatemala* 190 

Gcyanar* 

H o nduras^ iy» 

■ModCQAAe 95-800-462-4240 

lflcaraga>(k— nagna) 174 

Panama* 109 

Pew* 191 

Suriname 156 

Utueuay 004X10 

Venezuela** aH?ll-120 

CARIBBEAN 

iiofiun 


0-89-0011 ' agmudg ' 

■ ' British VI 

800-001 Cayman Mandg 

060-900101 Greoad^ 

1 . Hafil* 


0001-0010 T urke y* 
9800-100-10 
19*4011 
01300010 

00-800-1311 Sotivis* 
(xu-sowniii and 
999-001 Chfle 


177-100-2727 -™ ar 

800388 . hutakar 

tebtoQ 426-801 * 8et h - 4nffl 

, 1-800-100 ■ SLKtiWNcvla 

00-800-12277 

AMERICAS SBEgSgB 

001-800-20 0-1111 Gabon* 

.555 Gambia* 

MOO-1111 . Kenya* 

000-8010 Liberia 

« 004-0312' iSElw F 


1-800-872-2881 

1-800-872-2881 

I-80M7Z-28B1 

1-800-872-2881 

001-800-972-2883 

0«M72-285T 

001-80M7E2861 

1-800-872^2881 


ABMCA 

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