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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


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Paris, Thursday, December 8, 1994 


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Britain Asks 
If Major Can 
Survive Until 
End of Term 

By John Damton 

Nrw York Tbna Semcc 

vanve Plarty were wondering Wednesday if 
tne prime muuste r could survive another 
two ana a naif years. 

Tire defeat, which came on the govem- 

Z£L S & t °£ a ? a W* *** “crease on 
pome heatmg fuel and electricity, was be- 

' ?? *«• tissue that 

SSI^t^cbS: prcdecessor ' 

_ But Mrs. Thatcher managed to push 
through the po ll tax, which raised revenues 

NEWS ANALYSIS 

for localities by head and was effectively 
scrapped only after she resigned four years 
a#>. Mr. Major did not get that far. The 
additional value-added tax on fuel was 

319*to IJn* 011 S procc ^ uraJ amendment, 

What stopped him was a rebellion 
among die back-benchers in his own Tory 
party. Divisions and bitterness in the party 
. now run so deep that Mr. Major is hard put 
)<> sponsor any bm with even a hint of 
jhsoord to it. Already the govern meat has 
■backed away from what was to have been 
its showcase legislation this year — -priva- 
tizing the post office. 

■ The divisions initially cropped up over 
the issue of closer ties to Europe, a course 
that the government is committed to in a 
lukewarm way but that is vociferously op- 
posed by two dozen or so Conservative 
members of Parliament. By now the rent is 
so big that it encompasses every thing from 
personal grudges and recriminations to 
doubts about Mr. Major's leadership. 

The full dimension of his defeat was 
spelled out in headlines in Wednesday’s 
newspapers and the crowing epitaphs of 

S tion leaders. The government, said 
Blair, the new and popular Labor 
s “in disarray, discredited, no longer 
in control erf events” and “terminally inca- 
pable of asserting its authority.” i 

What makes these pronouncements dif- 
ferent from there of the past i? that ‘here is j 
•^MK^eridencew 4 

luel tax increase, to 17.5 percent from 8. i 
percent, had been agreed won two years ’ 
ago and approved by the House of Com- 
mons four tones already. AH in all, it was a 

perfunctory bit <rf budgetary business. ? 

hardly worthy of sparking a rebellion. Not 1 
since the Libor government of the late ! 


No. 34,766 



Bosnia Dead End: 
Fury and Blame 

Assailing U.S., France Asks UN 
And NATO for Pullout Plan 


Bosnian Croats entering Cdebic, southwest Bosnia, on Wednesday, after Serbs apparently 

U.S. Army Readiness Slips in Europe 


See TORIES, Page 4 


By Rick Atkinson 

Washington Post Service 

HEIDEL B E R G, Germany — The com- 
bat readiness of the U.S. Army in Europe 
has substantially eroded in the last two 
years because $300 million was diverted 
from training funds to pay quality-oMife 
expenses, the army’s European command- 
er in chief disclosed in an interview this 
week. 

General David M. Maddox, who com- 
mands the 72,000 U.S. soldiers still based 
in Europe, said his two major combat 
units, the 1st Armored Division and the 
3rd Infantry Division, had both slipped 
from C- 1 to C-2 on the four-step scale the 


U.S. Army uses in an effort to objectively 
measure fitness to fight. 

“I have consistently diverted money 
from training because I have been consis- 
tently underfunded in taking care of my 
soldiers.” General Maddox said in an in- 
terview at "nis Heideibarg headquarters. 

"The diversion of that money from 
training to quality-of-life is my fault I did 
it But you need to be able to turn the lights 
on. You’ve got to get the trash picked up. 
You have to pay the utility bills.” 

”1 did not have the money to do that, 
and I diverted it” be said. “Am I proud of 
it? Absolutely not” 

The disclosure comes less than a month 


after Defense Secretary William J. Perry 
acknowledged that three stateside divi- 
sions — identified by army officers as the 
1st Infantry, 4th Infantry and 2nd Ar- 
mored — had slipped to C-3, indicating 
signi fi cant fighting deficiencies and vul- 
nerabilities. : 

But the army has long iiied to keep its 
forward deployed units in Germany, Ko- 
rea, Hawaii and Alaska ready to undertake 1 
full wartime missions; General Maddox’s 
adm ission implies the strains now felt by a 
military caught between a contracting De- 
fense Department budget and a relentless 
string of deployments to Somalia, Mac- 

See ARMY, Page 4 


By Roger Cohen 

Vfw York Tuna Service 

ZAGREB, Croatia — Denouncing 
America for contributing to what he called 
the “total dead end in Bosnia,” Foreign 
Minister .Alain Juppe of France s md 
Wednesday that Pans had asked the Unit- 
ed Nations and NATO to draw up derai le d 
plans for the withdrawal of peacekeepers 
in Bosnia. 

“I say today that the the obstinacy of 
some and the demagogy of others risks 
setting the Balkans ablaze tomorrow," Mr. 
Juppe told the French National Assembly. 
“I am still ready to do everything I to 
prevent such a development but my duty, 
alas, is to say that It is no longer improba- 

In a dear allusion to the United States, 
he criticized governments “which teach us 
lessons daily and have not lifted a little 
finger to put even one man on the ground.” 

His statement reflected widespread ex- 
asperation at the failure of international 
mediation efforts, Serbian huniiiiarinn of 
UN peacekeepers and the way the counter- 
attack by the Serbs on the Muslim enclave 
of Bihac has exposed NATO threats and 
UN resolutions as empty. 

NATO and the United Nations have in 
fact been involved in detailed planning for 
a withdrawal of the 23,000 peacekeepers in 
Bosnia for several months. Indeed the 
chief of staff of United Nations forces 
here. Brigadier General Roy Ratazzi, has 
worked on little else since August 
Thus Mr. Juppe’s statement appeared to 
be aimed primarily at conveying a strong 
message to the warring parties in Bosnia 
that the tone for a settlement was r unning 
out. 

The Muslim-led Bosnian government 
would be deeply worried by a withdrawal 
because it would remove an important 
buffer against the Serbs. The Serbs would 
be less concerned but know that a United 
Nations withdrawal would leave than 
more exposed to eventual Western military 
action. 

“If tbr* pack up and take tbrir weapons 
with them and don’t leave than in the 
hands of the Muslims, the United Nations 
peacekeepers will be allowed to leave Bos- 
nia,” the Bosnian Serbian leader, Radovan 
Karadzic, said Wednesday. 

A complete withdrawal would require a 
decision from the UN Security Council 
that does not appear imminent. It would 
almost certainly lead to the collapse into 
Serbian hands of the remaining Muslim 


Woes in Unmerry Windsor 

Wildcat Oil Drilling Plan Near Castle 
Only Adds to Royal Family’s Troubles 


By Erik Ipsen 

International Herald Tribune 

LONDON — What has been yet anoth- 
er annus hombiUs for the House of Wind- 
sor lurched deeper into the danger zone on 
Wednesday as a leaked document suggest- 
ed that hundreds of royal staffers and 
courtiers were living the high life rent free 
in several royal palace* 

That unwelcome news came as public 
opposition mounted to Queen Elizabeth’s 
surprising decision to allow wildcatters to 
drill for oil near the walls of Windsor 
Castle. 

“Nearly two out of three courtiers and 
staff of the royal household are living rent 
free in five palaces maintained by the tax- 
payer for the queen,” the Guardian news- 
paper reported at the top of hs front page 
Wednesday. 

For the Labor Party, whose leader, Tony 
Blair, had only days ago stirred up contro- 
versy by railing for a radically smaller, 
Scandmavian -styie monarchy, the news 

was a godsend. 

- “Plainly, stories like this emphasize the 
Dfsri 'to have a debate on the relationship 
between -the monarch and the state 
thiULghnhe Treasury” a Labor spokes- 
man salt!. 

Wjhilc politicians debated the finer 
"boahts of constitutic '“al reform, residents 
of Windsor fumed. Last week, the borough 


council voted unanimously against the 
planned exploratory oil well. 

“It is something that in visual terms' 
should not happen,” said John Colby, di- 
rector of planning for the Toyal borough of 
Windsor and Maidenhead. He called it 
“insensitive." 

At beleaguered Buckingham Palace, a 
spokeswoman pondered that accusation 
and promptly ducked. Jill MicUUeburgh 
noted that before the queen’s approval, the 
government had stacked the cards by 
granting its approval. “Maybe it was a bit 
insensitive for the government to give the 
license in the first place,” she said. 

It is now up to the county government to 
approve or reject the proposed exploratory 
well, whose reserves are estimated at as 
high as 100 milli on barrels. Experts esti- 
mate that the deposit beneath the castle 

See QUEEN, Page 4 



Kiosk 

Moscow vs. TVtr.No’ 

MOSCOW (Reuters) — Foreign Min- 
ister Andrei V. Kozyrev said Wednesday 
that the UN Security Council should 
stop acting as “Mr. No” over easing 
sanctions against Iraq. “We think the 
Security Council should shif t from the 
position of ‘Mr. No’ to a more flexible 
and diplomatic position,” Mr. Kozyrev 
told reporters after talks with the Iraqi 
deputy prune minister. Tariq Aziz. 




CLA US CLASS — Some of the 450 students dressed as Santa Claus 
sitting in the conference hail of Bertur's Free University on Wednesday. 
Each year the students organize a rent-a-Santa service at Christmastime. 


Correction 

In Wednesday's editions, the Internal 
tional Herald Tribune incorrectly report- 
ed verdicts in the Paris trial of suspects in 
the killing of Shahpur Bakhtiar, Iran’s 
forma prime minister. The correct ver- 
dicts are: Zeynol Abedin Sarhadi, 28, an 
archivist at the Iranian Embassy in Bern, 
was acquitted and Massoud Hendi, 47, a 
bu s i n e ssman , was sentenced to 10 years 
in prison. Another defendant, All Vakili 
Rad, 35, was given a life sentence and 
ordered to serve at least 18 years. The 
IHT regrets the errors. 


A California County’s Financial Tremors Shake Wall Street 


By Lawrence Malkin 

International Herald Tribune 

NEW YORK — Orange County has 
numerous claims to fame. The fast-grow- 


prospered mightily on government def ense 
contracts but votes overwhelmingly for 
free-enterprise politicians. Its freewheeling 
financial institutions helped spawn the 


savings and loan crisis of the 1980s. It is 
also the home of Disneyland. 

And Tuesday afternoon, after American 
securities houses refused to roll ova its 
loans and started taking possession of 
bonds they held as collateral. Orange 
County made history: Following disas- 
trous losses in its investment fund, it 
sought protection in the largest municipal 


Wall Street and foreign investors fled to 
the safety of Treasury bonds, wondering 
whether the over-leveraged California 
county would prove the epicenter of an 
international financial earthquake like 
the bankruptcy of Mexico in 1982 or 


New York City’s bond bailout in 1975. 

Not very likely, said money market ana- 
lysts. But they also warned that the un- 
winding in cedit markets, courts, and mu- 
nicipal rating agamies would be long and 
messy, a slow-motion readjustment of the 
kind that predictably follows when market 

See ORANGE* Page 3 


S Down 
A* 10.43 

3735.52 

The Dollar 

New Vp*. 


Down 

0.15% 

^ WJsr . 


enclaves — Srebrenica, Zepa and Gorazde 
in eastern Bosnia, and Bihac in the west 
_ In its repeated acidity ova American 

* diplomacy m Bosnia, Mr. Juppe’s speech 
also seemed aimed at passing blame to the 

j Clinton administration for what would 
t _ amount to a major embarrassment to the 
^ British and French governments. 

Because it is not an intercontinental 
threat and because West European govern- 
ments initially thought they could solve the 
, conflict alone, Bosnia has repeatedly put 
5 the United States and Europe at odds, 
r - within NATO and outside. 

'■ “We have asked the United Nations and 

0 NATO to plan in detail the withdrawal of 

'' Defense Secretary Perry denies that the 
^ United States has lost credibility. Page 4. 

s 

e United Nations peacekeepers,” Mr. Jupp6 
” said. “This is a high-risk operation that 

- will require reinforcing troous on the 

1 ground first” 

f Current planning calls for those rein- 

- forcemeats to include American troops 
s among an estimated two NATO divisions 
1 —or ova 20,000 soldiers — that would be 

used to protect and transport the peace- 
l keepers in a high-risk operation. The Qin- 
r ton administration has indicated willing- 
i ness to take part 

: NATO on Wednesday formally asked 

i member states how many troops they 
i would contribute to such a Bosnian evacu- 
ation. Foreign Minister Douglas Hurd said 
> Britain hoped its troops could stay in Bos- 
» ilia, but pla nnin g for a withdrawal was 
l constantly updated. 

• In practice, several ideas exist for a Bos- 
nian withdrawal It could involve only 

l some countries —-for example troops from 
[ European Union nations — and it could be 
t limited to certain areas of Bosnia. 

I But any move will be highly sensitive 
I politically, esperially as several Islamic 
i countries, including Iran, are lining up to 
' replace nations that pull out A meeting 
this week of the 52-nation Organization of 
i the Islamic Conference in Geneva, attend- 
ed by the Bosnian president Alija Izetbe- 
i govic. produced pledges of up to 20,000 
new troops. 

Moreover, the mission is not without its 
successes that could be endangered by 
withdrawal. In central Bosnia, for exam- 
ple, where peace exists between the Mus- 
lim and Croatian forces who were killing 
each other in 1993, the United Nations 
presence is dearly achieving something. 

Proving Rape : 
Vexing Task for 
War Tribunal 

By Marlise Simons 

New York Tunes Service 

THE HAGUE — In a well-guarded 
modem building here, stacks of folders 
stand as silent testimony to a rampage 
against women, telling erf the large-scale 
and organized rape that soldiers inflicted 
during the Serbian “ethnic cleansing" of 
Bosnia- Hercegovina. 

Evidence of the magnitude of the abuse 
was so shocking that it persuaded the 
United Nations to identify systematic rape 
as a weapon of war and to include it among 
the crimes to be tried by the international 
community. 

Yet, 18 months after the Yugoslav War 
Grimes Tribunal was established, it is 
proving difficult to turn the horror stories 
recounted mainly by Muslim girls and 
women into prosecution cases. Indeed, so 
far the tribunal has indicted just one man 
and his case does not include sexual abuse. 

Last year, a team of European Commu- 
nity investigators calculated that, in 1 992, 
some 20,000 Muslim women and girls, 
some as young as 10 years old, were raped 
by Bosnian Serbian soldi os as part of a 
deliberate strategy to terrorize people, 
drive them from thor homes, and shatter 
communities in Bosnia-Herzegovina. Oth- 
er estimates are much higher. Many wom- 
en told investigators they were raped in 
front of their husbands, parents, or chil- 
dren, while many others said they were 
held in women’s camps where they were 

See RAPE, Page 4 


1.5676 

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How Many Bottles of Beer on the Watt? At College, Too Many to Count 


By Christopher B. Daly 

Washington Pat Sendee . 

BOSTON — Nearly half the college students in 
America are binge drinkers who cause an array of 
“second-hand” problems on campus ranging from 
vandalism to rape to fatal accidents, according to an 
extensive study. 

The findings, culled from a survey of 17*592 stu- 
dents, present a picture of U.S. college campuses 
awash mbeer, where a projected 3 million students go 
mi d rinking sprees even though most are too young to 


Medial Assoaa Uoa, the researcher, Henry Wechsler, Mr. Kennedy, whose congtesnonal district includes 
"*• .“is™ 1 01 and 39 percent of Harvard. MTT and roughly 30 other ™iw. ^ 

female students were bmge drinkers, umvcsMes with a totaToTmariv MnnoR^JT 


campuses today,” said Mr. Wechsler, director of the 
Alcohol Studies Program at the Harvard School of 
Public Health. He said college administrators and 
students themselves must drunkenness unac- 
ceptable. 

Mr. Wechsler was joined by Representative Joseph 


Mr. Komedy, whose congressional district includes and the students were selected to be representative of 

tnaiB mraenrs onw nmo# /innvm Harvard, MIT and roughly 30 other colleges and aH colleges, and students were asked to complete a 20-’ 

maie swoons were umge omucers. umversmes with a total of neariy 250,000 st£ents, 'page questionnaire. About 69 pocent ccmS 

“Beer is the drug of choice on American college ™ ajponolic beverage mdustiy should no longer ResMichers “hmee" drinkina 

mpuses today/^faid Mr. Wechsler, diKctor'ofme 

try-roSS^tT^ ^ ^ ^ fomor moredrii^ ^ 

„ lower figure was adopted for women because other 

mdustiy spokesmen disputed Mr. Kennedy’s re- studies indicate that women experience the mwa ef. 
marks and defended their practices. fects erf alcohol at Iowa level? than men. 

O^jhuruuiyfoundthut about Ihpocen.ofaU 


taxable income. He called on colleges to reject indus- 
try-sponsored events. 


P. Kenufidy.aMassaihusettsbaroaTitr^ohsaimg Ife.cn Fed™. ^prorideut ofie 
drintiuSWred to 70 percemof the student body.lSd soughtlegulation to nauire health warning labels on Wde aaodudou of browm. tep^ouTjSr. 

SttraiSes and sororities had suiihidKr rata. CTohcbeverage advertumg. Mr. Kennedy du- ThsHarrard stuefy was conducted by assembling a didSMtS^SSS«pSSu?Sd^hS 
At a press conference announcing the study, which nounced the brevrag industry for spending Mhous <m database of 25,627 students at 140 W-y^r had enot* drinks tomeetthe j 

appeared Tuesday in the Journal of the American advemsmg aimed at encouraging youagsters to drrnk. uHO states and the District of Columbia. The schS half of th£e said they werebe^Sti^S^ 








Page 2 


EYTERNAITONAJL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


By Alan Cowell 

, New York Tones Service 

ROME — As investigators said that Italy’s 
corruption inquiries would not ease after the 
resignation of a top magistrate, signs began to 
emerge Wednesday that the nation’s erstwhile 
political practices were reviving. 

One day after the resignation of Antonio Di 
Pietro, the Milan magistrate who became a na- 
tional hero for his crusade against corruption, a 
small but influential parliamentary panel recom- 
mended that an inquiry against a former Chris- 
tian Democrat Prime Minister, Ciriaco De Mita, 
be dropped. 

The 23-member Senate committee on parlia- 
mentary immuni ty was acting under laws stipu- 
lating that cases involving ministers and former 
minis ters must be reviewed at a high level before 
magistrates are allowed to proceed against them. 

Magistrates in Naples had sought a ruling on 
whether they could pursue investigations into 
purported fraud, extortion and misuse of public 
office relating to the diversion of government 
funds after a major earthquake in 1980 in the 


>rs Signal Retn 

Irpinia region near Naples, Mr. De Mita’s politi- 
cal base. The case involved bribes said to have i 
been paid on contracts for a factory. j 

While the panel ruled in favor of blocking the i 
inquiries into Mr. DeMita, it recommended that i 
a amilar investigation proceed against his broth- < 
er Michde and 17 other people. 1 

Committee officials were not available : 
Wednesday night to orolain the reasons for the 
recommendation, which must now be approved ; 
by the full Senate. It came as many commenta- . 
tors said that Mr. Di Pietro’s departure Tuesday ; 
showed that Italy’s professed revolution had died j 
and that its moves away from a corrupt past had 
been brought to a halt 

“The sheriff has been disarmed,” said the ! 
broadcaster and author Enzo BiagL “The cattle- < 
rustlers rejoice. And in the saloon the party can 
start all over again." 

“In the great duel, politics has won,” com- 
mented Ezio Mauro in the newspaper La : 
Stampa. “Antonio Di Pietro has sacrificed him- ; 
self on Italy’s great true altar: the impossibility 
of change.* 


Mr. Di Ketro resigned after almost three years 
as the most prominent figure in the country's 
mani puttie (dean hands) inquiries. He said that 
political man euverin g had made his work impos- 
sible and that he wished to “depersonalize” in- 
quiries that have been depicted as open war 
between hims elf and Prune Minister Silvio 
Berlusconi. 

Mr. Berlusconi hims elf is under investigation 
by the Milan magistrates, who say they want to 
find out whether he knew of bribes purportedly 
paid by his huge Fininvest empire to the tax 
police. 

While such inquiries will most likely continue, 
many c omm entators said it was difficult to see 
how they would maintain the same sense of 
drama as in the past. 

“We are here, as they say. at battle stations, 
today as yesterday, with a renewed sense of duty 
and enthusiasm,” said Francesco Saverio Bor- 
reBi, the head of the Milan anti-corruption mag- 
istrates, who accepted Mr. Di Pietro s resigna- 
tion. “We will do everything possible to keep up 
the rhythm of the investigation,” he said. 


But some Italians suggested that the inquiries 
would inevitably proceed more slow#, as mt- 
Mauro wrote in La Stampa, “without 
motor and brain, without the almost physiol 
energy with which he dragged the inquiries 

^Since the inquiries began in February 1992, 
thousands of politicians and busan«anen have 
been questioned and more than TOOhavebeen 
sent for trial in connection with bribes paid m 
return for government contracts. 

■ Thoosands Rally to Ask Judge's Return 
Some rallied outside La Scala on opening 
niohu others joined candlelight vigils or agned 
petitions. In all, thousands of Italians turned out 
Wednesday from north to south to tty to urge 
Mr. Di Pietro to come bade and lead thenauons 
inquiries of political corruption. The Associated 

Press reported from Rome. . 

Many of the rallies were organized by leftist 
parties, including the former Co mm u n ists, 
whose ranks were relatively unscathed by the 
inquiries. 


Bourn From Dusty Attic, 
Fresh Van Gogh Flowers 

The Associated Press 

AMSTERDAM — A French flea market purchase has 
been identified as a previously unknown flower still life by 
Vincent Van Gogh, the Van Gogh Museum announced 
Wednesday. 

“It's never been seen by the public, never touched by 
professionals," said Rianne Norbart, a museum spokeswom- 
an. 

The oil shows a brilliantly colored autumn bouquet with 
asters and other flowers in a blue vase against a red-brown 
background 

The 58-by-43.5 centimeter (23.2-by-J7.4 inch) painting will 
be on exhibit at the museum through Dec. 31, and then 
returned to the owner, whose name has been withheld from 
the museum. 

The owner bought the painting at a flea market in France 
after World War II but did not recognize the signature 
“Vincent** in red in the lower right comer, according to Miss 
Norbart 

It had gathered dust in an attic for decades before the 
owner brought it to a Van Gogh specialist, Walter Feilchen- 
feldt in Zorich last year. 




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French Senate Rejects Press Gag Law 

The Associated Press had been adopted by the Na- 

PARIS — The French Sen- tional Assembly during a 
ate’s law committee on sparsely attended late-night ses- 
Wednesday killed an amend- sionNov. 21. 
ment to anti-corruption legisla- It was drafted in response to 
tion that would have sharply complaints that details of inves- 
curtailed media coverage of tigations often are leaked to the 
corruption scandals. press in preliminary stages 

The amendment, denounced when suspects are theoretically 
by journalists as self-serving protected by privacy laws. 


Christopher 
Gets Pledge 
By Arafat 
On Attacks 


By Blaine Stiolino 

New York Times Service 

GAZA — Yasser Arafat said 
the words he was supposed to 
say on Wednesday. In condlia- 

tary Chris- 

topher, the diairman of the 
Palestine Liberation Organiza- 
tion pledged to do whatever he 
could to end the two-month 
siege of terror against Israeli 
troops and civilians. 

If that happens, the Ameri- 
can thinking gftftc Israel might 
be less reluctant to withdraw its 
occupation troops from Pales- 
tinian towns and villages in the 
West Bank as required under 
the agreement signed with the 
Palestinians on the White 
House lawn 14 months ago. 

Such a withdrawal would 
pave the way for elections that 
would legitimize Palestinian 
rule in the territories that they 
will be allowed to control 

In a joint news conference 
with Mr. Christopher after their 
houxiong meeting, Mr. Arafat 
made dear to those Palestinian 
extremists who cany out terror- 
ist acts that only the political 
organization that governs in his 
name is in charge. 

“We are proud of our democ- 
racy," Mr. Arafat said. “But ev- 
erybody has to understand that 
there is one authority. It is the 
Palestine National Authority in 
the Palestinian territories and 
everybody has to respect the 
law." 

Mr. Arafat essentially ac- 
knowledged he understood that 
unless Israel felt secure, the 
troops would not withdraw and 
the elections would not take 
place. 

“We are looking to have very 
quickly the elections," Mr. Ara- 
fat said. “But at the same time, 



la ffatbuier'Resien 


Yasser Arafat and Secretary of State Christopher after their talks in Gaza. 


we are putting into consider- 
ation the needs of security for 
the Israelis and we are ready to 
discuss It in detail with them." 

A total of 94 Israelis have 
been killed by militant Palestin- 
ians since the agreement was 
signed in September 1993. 

The atmosphere at Wednes- 
days meeting between Mr. 
Christopher and Mr. Arafat 
was dramatically better than 
when they met at the seat of 
Palestinian rule in Gaza last 
July. During that meeting. Mr. 
Arafat angered the Israelis 


when he asserted that they had 
usurped his role by inviting 
King Hussein of Jordan to Jeru- 
salem and he frustrated his 
American visitors by failing to 
get his financial house in order. 

On Wednesday, by contrast, 
Mr. Christopher praised Mr. 
Arafat for his fiscal reforms in 
recent months, which have con- 
vinced donor states to send 
committed funds and pledge 
even more. 

The question that Palestinian 
leaders pose is this: If the forces 
of the Israeli Army cannot stop 


terrorism in the occupied terri- 
tories, how can they? But the 
Declaration of Principles 
signed by the Israelis and Pales- 
tinians requires Mr. Arafat to 
curb Palestinian violence. 

“No one who is familiar with 
Israel’s history can reasonably 
expect Israel to move toward 
the objective without insuring 
that their security remains a 
constant companion" of the 
peace efforts. "Mr. Christopher 
said following a meeting 
Wednesday morning with 
Prime Minister Yitzhak Rabin 
of Israel 


Wait, Gorbachev Says, Until I’m in 6 Yeltsin’s Shoes’ 


Reuters 

DUBAI, United Arab Emir- 
ates — Mikh ail S. Gorbachev, 
the former Soviet president, 
made it clear Wednesday that 
he wants to replace Boris N. 
Yeltsin as the Russian presi- 


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dent, possibly in 1996 elections. 

“I pay a lot of attention to 
that subject, and I cannot ex- 
dude that,” Mr. Gorbachev 
said when asked at, a news con- 
ference about running in 1996. 

Asked how he would differ 
from Mr. Yeltsin, he said: “You 
will learn that when I will be in 
his shoes." 

Mr. Gorbachev, in the Unit- 
ed Arab Emirates for a confer- 
ence on information technol- 
ogy, resigned as president of the 


Soviet Union as it broke up in 
1991. 

Once allied with Mr. Yeltsin, 
Mr. Gorbachev has subsequent- 
ly been sharply critical of his 
policies, which he said Wednes- 
day were not “a continuation of 
my reforms.” 

He said that new democratic 
reforms would underlie his pro- 
gram and that he stiD adhered 
to principles he had promoted 
as leader, inducting freedom of 
choice and a mixed economy. 


If Mr. Gorbachev did run, it 
is not at all clear he would win. 
He remains deeply unpopular 
in Russia, not least among 
those who remember his Draco- 
nian anti-alcohol laws, which 
have been scrapped. 

Some Russians yearn for a 
return to communism, but Mr. 
Gorbachev said through an in- 
terpreter “I don’t believe they 
are the people to whom the fu- 
ture of Russia belongs. 


WORLD BRIEFS 

West Appeals for Leniency for Kurds 4 

ANKARA Reuters) — With only a day to go before a Turkish 
Jutrd**. the cases of eight Kurdish legriators facing the 
death penalty for treason, pressures mounted era Ankara on 
Wednesday to be lenient or risk damagin g ties witbthe West. 

President Francois Mitterrand of France iaimcheda last-mm- 
ute appeal to European Union partners on Wednesday to urge 
Turkeyto avoid death sentences for the Kurds, who have been 
stripped of their parliamentary immunity, the Anatolian news 

a8 S < ^Mrington, a State Department spo keswoma n. Christine 
Shelly, said the Kurds were cm trial for “expresmg their own 
thoughts." She added; “We have repeatedly expressed to the 
Turkish government our deep concern over the trials and their - - 
implication for democracy and freedom of expression in 'ftirtey." 

'Weak’ Case Against Collor Opens ; : 

BRASILIA (Reuters)— Former President Fernando Collor de . 
Meflo of Brazil went on trial Wednesday for corruption amitj 
repor ts that the case against him was weak. . • 

Mr. Collor, 45, faces one count of passive corruption stemming • 
from an alleged multimillicm-doUar influence-peddling scheme. 
He coukl be sentenced 10 right years in prison if found guilty. : 

Media reports speculated that prosecutors lacked enough progf. 
to convict Mr. Conor despite two years of investigation and mo& ■ 
than <50,000 pages of evidence. “The indictment is very weak anti 
the final charges do not support the hrootbesespresented atthe 
start of the document,” an unnamed Supreme Court justice told 
the Gazeta Mercantil newspaper. 

Mexico President Heads for Peace : V 

MEXICO CITY (AP) — Facing a guerrilla “ni g h t ma re.” Presi- 
dent Ernesto Zedillo pleaded with Indian rebels in saoibexn 
Mexico on Wednesday to reconsider their rejection of new peace •' 
talks with the government. . . . . 1 * 3 ..:: 

Confronting die first crisis of his new presidency, Mr. ZediBo ' 

: said he would not budge from his stand that negotiations are the 
only solution to the armed Mayan uprising in southern Chiapas 
state, launched last Jan. 1. • ' ~ ' 

“Mexicans are worried about violence; we worry about poverty 
and injustice that are the root of the problems,” Mr. Zeduk> srid 
in a breakfast speech ax the Mexican Senate. “But we have u>: 
recognize that to have justice and peace, the only path is negotiat . 
tion.” - 

Clan Fighting Resumes in Somalia - * 

MOGADISHU, Somalia (Reuters) — Indian warships steamed 
into Kismayu Wednesday to cover the withdrawal of thelasLBSO 

ed even beforethc soldiers could leave. " .. 

Somali staff of the aid agency Doctors Without Borders said the 
dashe s broke out in the center of the port city, widely seen by UN 
officials as a likely flashpoint for renewed civil war. 

In Mogadishu, the capital, the order for the 15,000-meoaha. 
United Nations force to leave Somalia came too late for one 
Egyptian peacekeeper, killed by a stray bullet fired by. feuding 
nautias, a UN spokesman said. An Indian , warrant officer ws- 
injured by a stray round at Mogadishu airport. Some 131 peace- 
keepers lave died in the bloodiest UN mission of its kind.- 

300 Hurt During Bangladesh Strikes 

DHAKA, Bangladesh (AP) — Clashes between political groups 
and the police left at least 310 people injured Wednesday during 
an anti-government strike that paralyzed major cities. 

The dawn-to-dusk strike escalated the opposition's nine-month 
campaign to unseat Prime Minister Khauda Zi a and force early 
elections. 

Opposition parties resorted to strikes after international .and 
local mediation efforts failed. The opposition accuses Begun Zia’s 
government of vote fraud, corruption and inefficiency. 7116 prime. 
minis ter has rejected opposition demands that she resign by Degl* 
27, and the opposition has rqected her offer to share power in an 
interim government until elections in 1996. 

TRAVEL UPDATE - 

Liner Makes British Fort After Alert 

LONDON (Reuters) — The British passenger liner Canberra 
docked safety at Southampton on Wednesday after a major alert 
overnight when its engines failed in fierce weather and rough seas, 
the coast guard said. _ . 

Helicopter rescue crews in England and Belgium and lifeboat 
teams prepared for a large-scale rescue^fore the liner, with more 
than 2,400 people aboard, limped into port Wednesday morning; 
The captain had radioed for assistance when both engines failed. 
Coast guard spokesmen said the crew managed to restart the 
engines after repairing a fuel problem. 

The 49,073-ton ship had drifted for more than an hour in severe 
gales before it managed to drop two anchors and hold a position 
about three miles from the Isle of Wight While there was no 
immediate danger to those aboard, rescuers feared a disaster if the 
Canberra had foundered. 1 

Hungarian ra9 workers will strike for two hours Thursday, at 5 
A^l., to demand higher raises than offered by the government . 
and to protest threats of layoffs, union leaders said Wednesday. 
(Reuters) 

S han ghai on Wednesday opened an derated tirctdar highway , 
that is intended to ease traffic congestion in China's largest city. 
Thousands of people lined the 4B-kilometer (30-mile) route to 
watch a motorcade of taxis and buses decorated with ribbons and - 
silk bows perform a lap of honor. (Reuters) 

Outraged by press photographs of naked bathers, a Brazilian 
judge has ordered the army to arrest anyone found unclothed at 
Abrico Beach, a newly inaugurated nudist beach near Rio dp 
Janeiro, Brazilian newspapers reported Wednesday. (Reuters) 


Chechens Brace for War After Russia Turns Tough 


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Compiled bp Our Staff From Dispatches 

GROZNY, Russia — The 
defiant people of separatist 
Chechnya prepared for war on 
Wednesday, after Russia 
abruptly ordered them to aban- 
don their three-year cl aim to 
independence and obey federal 
law or face the consequences. 

Chechen television broadcast 
instructions to the tiny moun- 
tain region on bow to survive a 
Russian invasion by equipping 
cellars as air raid shelters. “My 


advice is to take enough food 
and water to last three days,** an 
officer said. 

Tension readied a new peak 
by evening, when Russia’s 
counterintelligence service ac- 
cused the leader of the region of 
endangering Russia's vital in- 
terests and blamed him for 
thousands deaths. 

“The situation in Chechnya 
has become extranely danger- 
ous for Russia’s vital interests 
and its national security," said a 


statement by the sendee, pub- 
lished by RLA news agency. 

The statement secured Presi- 
dent Dzhokar Dudayev of using 
Afghan mujahidin and Turkish 
Gray Wolf guerrillas “to stay in 
power at any price” and of 
turning Chechnya into a “train- 
ing ground” for international 
terrorism. 

“Dudayev’s bloody trail goes 
outside Chechnya," it said. “On 
his conscience there are crimes 
in Abkhazia, Karabakh and 


other *hot spots.’ Hundreds and 
thousands have been killed." 

The statement followed an 
angry demand by President Bo- 
ris N. Yeltsin’s Security Coun- 
cil that Chechnya bow down 
before Russian law.' 

Russia has been building up 
troops on the borders with 
Chechnya since a failed attempt 
by the anti-Dudayev local op- 
position, backed by Moscow, to 
seize Grozny late last month. 

The Security Council issued 


the harsh new demands in an 
abrupt volte-face, after the high 
tension of recent days appeared 
to have dissipated in positive 
■talks. on Tuesday between the 
Russian defense minister,' Pavel 
-S. Grachev, and General Du? 
dayev. 

The council statement denictj 
there was any conflict between 
Chechnya and Moscow and 
said the problem was'* struggle 
for power inside Chechnya -' j 
I (Reuter^AF) 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


Page 3, 



Republicans Act Fast to Starve Special-Interest Groups 

Bv Katharine n ~ . 


By Katharine Q. Seelye 

New York Tima Service 


Capitol Hill offices. These 28 include the Con 


Dv Mew York Timn r, , u _ — r -™ *«■ v"ivw, uihc £o uiLiuut uiu v^iu- 

[j . WASHINGTON The Wmm.w k 5ressional Black Caucus, the Congressional Cau- 
ls' began making good on^r^SS^S! 5 have Women's Issues and the Democratic 

Congress deaiL whislrfn* - t0 s J vee P Study Group, which have dozens of members 


ch^fowri a “^frequently influence legislation. 

— the caucuses and House The Republicans agreed by voice vote to bar 

^ven be able to sell off a BovSSSSr ^ .P 1 ^ 1 financing for these organizations in a move that 
£e process 10 ^ a government brnldmg la drew enurism from Democrats as a political 

-• “The conference h«« . ““^- ver b * Mr * Gingrich to consolidate power 


cd to be speaker of the House. 

cauc ^ ses — special-interest 
groups formed by members to lobby each other 
—but 28 of them, known as Legislative Service 
Uigamzations, get taxpayer money and occupy 


at an even more sweeping B 

have reduced lawmakers' personal staffs to 16 
permanent positions from 18; the reduction 
would have wiped out at least 870 jobs. 

. rr The whole point of the last election, Mr. Ging- 

It was Lhe most eye-catching of the actions the rich said, was “less government, less spending in 
Republicans took Tuesday as they set about Washington." To that end, the Republicans also 
reorganizing the two chambers and their various adopted a resolution urging that Congress sell 
functions. At the other end of the Capitol, Senate “at least one” of its office buildings. 
Republicans promoted their own Gmgrich-style Critics argue that the House’s 28 Legislative 
budget cuts, including a proposal to abolish the Service Organizations (the Senate has no compa- 
1 43-employee Congressional Office of Technol- rable organizations) are tools of outside lobby- 
°gy Assessment and to cut the General Account- ists, use public money with no accountability 


mg Office, which has nearly 5,000 workers, by a and, at a time when Congress should be focusing 
quarter to a half. on the big picture, foster petty divisions. 

House Republicans said that cutting the can- Mr. Gingrich said the lack of audits and ac- 
cuses alone would abolish 96 staff jobs and free countability meant that some groups were “scan- 
16 House offices for other uses. But they balked dais waiting to explode.” 

change that would Some on Capitol Hill say the Republicans’ real 

ntnffn 1 /L vn/xtivijk «f stnl 1 • 1 /n t ■ *trA<l'Ua«i mviunr flair A ikd 


motive is political: to weaken groups tike the 
black and women’s caucuses. The caucuses pro- 
vide platforms to members outside committees 
and frequently offer dissenting views. 

Mr. Gingrich rgected any notion that doing 
away with caucuses would have a disproportion- 
ate effect on minorities and other groups that 
lack broad House representation. 

He emphasized that groups like the black 
caucus remain free to meet on Capitol Hill. 
Republican groups would now have to operate 
under those same constraints, he said. 


Clinton Crisis: Pounded by Republicans, Spumed by Democrats 

Dl, TnJ J O TV , — — - 


By Todd S. Purdum 

New York Tima Service 

WASHINGTON — presi- 
dent Bill Clinton approaches 
the midpoint of his term from a 
new low point, with no easy 
choices and perhaps few good 
. ones as he struggles to reposi- 
tion himself on political ground 
that perpetually reopens be- 
neath him. He is muter attack 
not only from resurgent Repub- 
licans but also many despon- 
dent Democrats, and at some 
pains simply to preserve ins au- 
thority. 

A poll conducted over the 
weekend by the Times Mirror 

, NEWS ANALYSIS 

•Center for the People and the 
Press not only found Mr. Clin- 
ton trailing a generic Republi- 
can opponent for 1996 but also, 
more ominously, showed that 
fully two- thirds of Democrats 
surveyed wanted to see other 
.candidates challenge him for 
"the Democratic nomination. 

•. Those strains showed on 
•Tuesday night in a feisty, reflec- 
tive address to the Democratic 
Leadership Council, the cen- 
trist group Mr. Clinton helped 
found and rode to victory, but 
-whose leaders now suggest that 
‘the president may be a big part 
of the Democrats* electoral 
‘problem, not the solution. 

“I ask you now once again to 
think about what your responsi- 
bility is,” Mr. Clinton told the 
-group, just hours after its chair- 
man and his old friend. Repre- 
sentative Dave McCurdy of 
'Oklahoma, criticized the presi- 



Stcpbcn JiI/r/Railni 

Hiflary Rodham Clinton whispering to her husband before he addressed a Democratic l ea dershi p Council conference. 


dent as a “transitional figure” 
crippled by the tension between 
his New Democrat’s mind and 
his <rid Democrat’s heart 
“What is your responsibil- 
ity?” Mr. Clinton demanded. 
“It’s to join me in the arena, not 
is the peanut gallery — in the 


arena, and fight and roll up 
your sleeves, and be willing to 
make a mis take now and then, 
be wilting to put your shoulder 
to the wheel, be willing to en- 
gage, be willing to struggle, be 
willing to debate and eniov 
this.” 


But enjoying “this” seems 
about the last thing the Clinton 
White House is doing these 
days, and there is no dear 
agreement on what “this” is, 
apart from the president’s oft- 
expressed insistence that he and 
the Democrats are and should 


be the champions of hard-work- 
ing, middle-class Americans. 
The political team that will help 
him decide what to do remains 
unformed, led by the vacancy in 
the chairmanship of the Demo- 
cratic Party, and the economic 
team that will nail down specif- 


ics just changed with the resig- 
nation of the administration's 
most grizzled Capitol Hill hand. 
Treasury Secretary Lloyd Bent- 
sen. 

On Monday, the Progressive 
Policy Institute, the policy arm 
of the Democratic Leadership 
Council, issued its own 1 0-point 
alternative to the Republi cans * 
“Contract With America,” in- 
cluding government loans for 
worker retraining, cuts in tax 
subsidies for favored industries 
(with the savings used to reduce 
ihe deficit and promote growth) 
and a campaign against teenage 
pregnancy. 

While Mr. Clinton has spo- 
ken receptively about many of 
those ideas, he has neither em- 
braced nor rejected them spe- 
cifically. The president's aides 
said that even a major address 
on his philosophy planned for 
next week would be unlikely to 
get into such detail, instead re- 
maining a general statement of 
his principles, unlikely to win 
live network coverage. 

White House officials said 
the bulk of Mr. Clinton's pro- 
posals on taxes and other issues 
would be embodied in his State 
of the Union and budget mes- 
sages in January, but there, too, 
time is short The Slate of the 
Union, delivered at the suf- 
f ranee of Congress, is tentative- 
ly scheduled for the last week of 
January, but senior administra- 
tion officials acknowledged 
Wednesday that there had been 
some discussion of whether it 
made sense to give the congres- 
sional Republican leadership so 
much time to make its own case. 


How a Texas Legend , Jack Brooks , Lost Out After 42 Years 


By Sue Anne Pressley . 

Washington Post Service 

NEDERLAND, Texas — Here in the 9th 
Congressional District, oil refineries rule the 
Gulf Coast landscape and fishermen complain 
loudly about the day’s catch. New bumper stick- 
ers urging “Impeach CKn ton” decorate pickup 
trucks, and the slogan on the front door of the 
Hardware Man gun shop carries the righteous 
force of a commandment: “Fear the Politician 
That Fears Your Gun.” 

For 42 years, this has been Jack Brooks territo- 
ry as be rose from a struggling freshman con- 
gressman, so poor he had to borrow money for a 
new suit to wear to Washington, to one of the 
most powerful politicians in the country. It is 
proof of the cigar-loving Democrat’s near-leg- 
endary status that, even a month after the elec- 
tion that toppled him, no one here, friend or foe, 
can quite believe that when the 104th Congress 
convenes Jan. 4, Jack Brooks will not be present. 
' Mr. Brooks, 72, was beaten by a little-known 
■38-year-old accountant who operated his cam- 
paign from his home and who, according to 
many pundits, was victorious largely because he 
was not Jack Brooks. 



fit 

0^ u 


the recent Republican revolution: Taxes are too 
high; government too big; reigning politicians 
too smug and out of touch. General distrust of 
federal lawmakers seems to have degenerated 
into outright disgust- No one knows how to solve 
the ^-Anomic problems, residents here say, and 
no one understands how to fight crime. 

* in the Brooks case, voters apparently were 
wining to trade his considerable clout and their 
gratitude for all the jobs and federal goodies he 


one highly emotional issue: their freedom to buy 
and bear guns. When Mr. Brooks voted last 
spring for the crime bill, and the accompanying 
ban of 19 firearms, constituents who had felt 
generally betrayed by their politicians found a 
target. 

“People say, ‘Well he’s been our friend for 
over 40 years.’ Well for over 40 years, we sup- 
ported him,” said John Kdlams, owner of the 
Hardware Man who, until Nov. 8, had regularly 
voted for Mr. Brooks. “But when your friend 
starts doing bad things to you, you don't fed like 
you have to support him anymore.” 

Mr. Kellams, 36, a gun dealer and firearms 
instructor, with his wife, Deborah, hdped lead 
the pro-gun forces against Mr. Brooks. 

“it wasn’t just the gun issue, but there was like 
some kind of strange astronomical conjunction 
that got him beat I mean everything was lined 
up,” he said. “You have one of the most abys- 
mally unpopular presidents in recent memory, 
you have a resurgence of conservatism on the 
political scoie. Plus, you have a political scene 
that is becoming more polarized — now, both 
sides have moved so far away from each other, - 
you’d better jump on one side or the other fast” 
In the 9th District, which includes the high- 
crime areas of Beaumont, outlying Houston sub- 
urbs and the coastal cities of Galveston and Port 
Arthur, there are more licensed gun dealers than 
in the state of New York. Boys and girls alike 
up here learning how to shoot, and fowl- 
lting preserves ana well-stocked gun cabinets 
arc part of the local culture. 

Inis is a corner of far southeast Texas that 
seems more closely aligned with nearby Louisi- 
ana, a place of swamp grass and lingering humid- 
ity, home of the Texas Rice Festival the Texas 
Gator Fest and historic Spindletop, the oil gush- 
er that erupted near Beaumont in 1901. 


Although NASA's Johnson Space Center is 
located hoe, the area remains largely blue-collar, 
and recent decisions by President Bill Clinton — 
such as backing gays in the military and support 
of trade agreements viewed as threats to Ameri- 
can jobs — have not played well in the homes 
and trailer parks along the bayous. 

Mr. Brooks’s office did not return calls, he has 
attributed his defeat to the rhetoric of Rush 
Limbaugh and other rightist talk show pundits. 

“I think everybody got tired of Washington,” 
said Harold Talley, 57, secretary-treasurer of the 
OH, Chemical & Atomic Workers International 
Union-local in Port Neches, who continued to 
support Mr. Brooks. “I think everybody’s tired 
of Washington trying to pass a health bill that 
doesn't include than, everybody s tired of all (he 
perks everybody gets up there. Ninety percent of 
us are probably going to end up using our savings 
for medical bills and that’s a sad, sad situation.” 

That Jack Brooks — an LBJ Democrat often 
described as “the last of a breed” — could be 
felled with 45.7 percent of the vote says much 
about the current impatience with officeholders. 
Mr. Brooks seemed to cultivate an image as an 
independent, blunt-spoken sourpuss arid was re- 
portedly proud of a Washington Post photo- 
graph that showed him snarling at cameras. An 
early supporter of civil rights, he refused to sign 
the segregationist 1956 Southern Manifesto and 
was one of only II Southern Democrats who 
initially supported the 1964 Civil Rights Act. In 
the 1980s, when the first of a series of conserva- 
tive opponents began mounting i ncre asingly se- 
rious challenges, it was support from his district’s 
large core of minority and union voters that 
saved him. 

In Washington, he was an early pro-impeach- 
ment critic of Richard Nixon and, later, as a 


member of the Iran-contra investigation com- 
mittee, he described both Elliott Abrams, a for- 
mer State Department official, and John M_ 
Poindexter, the former national security adviser, 
as “a lying son of a bitch." 

As chairman of the influential House Judicia- 
ry Committee, he has also continued to look out 
for ins district — perhaps to his detriment. A $ 10 
million boost that he tried to slip into the crime 
bill earlier this year for a law enforcement train- 
ing center at his alma mater, Lamar State Uni- 
versity in Beaumont, led to derisive cries here 
and in Washington that he had finally gone too 
far in his appetite for “pork.” 

While many constituents appreciated his old- 
fashioned attentiveness to his district, others had 
begun to speak of him as “Caesar” and to ques- 
tion the vanity of a still-living politician who 
would allow a bronze statue of himself to be put 
on the Lamar State campus. “He's an arrogant 
old fossil,” Deborah Kellams said. “He forgot 
where he came from, who put him in office.” 

But his sup po rters wonder what can be expect- 
ed from a successor like Steve Stockman, a 
S25,000-a-year accountant who beat Mr. Brooks 
on his third try and received last-minute infu- 
sions of money from the Gunowners of America. 

Now in Washington getting acquainted with 
his new environment, Mr. Stockman agreed that 
this time, the gun issue was Mr. Brooks's 
downfall. 

“The problem," he said, “was that Brooks 
painted himself in a comer, quite frankly. He 
sent letters saying, ‘I will do anything to stop the 
gun ban.' And be also said, ‘You need to keep me 
in office because I'm powerful' WelL you’re 
'either powerful enough to stop the gun ban or 
you’re not. He set himself up as a giant and he 
couldn’t deliver.” 


yir POLITICAL NOTES* 


H ubbell’s Honest Image Takes a Tumble 

WASHINGTON — It was nothing but a billing dispute 
among law partners. Webster L. Hubbell told his colleagues 
at ihe Justice Department just nine months ago. Nothing out 
of the ordinary. Nothing that couldn't be resolved. 

And they bc"lie\ed him. because Mr. Hubbell. former chief 
justice of the Arkansas Slate Supreme Court- former ethics 
officer of his law firm, author of the state’s ethics law. had a 
reputation for integrity much of Washington could envy. 

So this week. Mr. Hubbell 's former co-workcrs at the 
Justice Department could only marvel about how well they 
had been fooled. 

"Oh my God. this seems totally out of character." said one 
top official, upon learning of Mr. Hubbell's guilty plea 
Tuesday in Little Rock. Arkansas, to two felony counts of 
mail fraud and tax evasion. Mr. Hubbell. former associate 
attorney general, admitted that he bilked his clients, includ- 
ing the federal government, of more than 5390.000. before he 
arrived in Washington Iasi year. fH'PJ 

Ex-White House Travel Chief Is Indicted 

WASHINGTON — Billy R. Dale, former chief of the 
White House travel office, was indicted Wednesday on 
charges he embezzled more than S68.000 paid by news 
organizations for reporters to travel with the president. 

An indictment charging him with two counts of embezzle- 
ment and conversion was returned in U.S. District Court 
here. Mr. Dale's attorney. Steven Tabackman. was out of 
town but had said Monday that Mr. Dale denied the charges 
and would vigorously defend himself at trial. 

The government said the money included payments by 
news organizations for reporters' expenses and refund checks 
from telephone companies and other businesses that had 
been overpaid for providing services to traveling reporters. 

Mr. Dale headed the travel office from l**82 until his 
dismissal in May 1993 along with six other employees of the 
office. 

An audit in May 1993 had found that the office kept 
sloppy records. White House lawyers called in FBI officials at 
the time of the firing to announce an investigation. < API 

Japan Gets an Ally Against ILS. Stamp 

WASHINGTON — On the 53d anniversary of the Pearl 
Harbor attack, the White House sided with Japan against a 
proposed U.S. stamp that commemorates the end of World 
War II with a picture of a mushroom-shaped cloud. 

“We agree that the atomic bomb helped speed the end of 
the war." Dee Dec Myers, the press secretary, said Wednes- 
day. "But again, there could be more appropriate ways to 
depict that event." 

The White House chief of staff. Leon E. Pa nett a. told 
Postmaster General Marvin Runyon about the While 
House's concerns, she said. 

The Japanese Embassy, noting that tens or thousands of 
Japanese civilians were killed in the bombings of Hiroshima 
and Nagasaki, formally protested the stamp Friday. The 
State Department expressed its concerns Tuesday. i A Pi 

Quote/Unquote 

Elizabeth Hcdlund of the Center for Responsive Politics, a 
nonpartisan watchdog group, on the Federal Election Com- 
mission's decision to dismiss, due to constraints on its investi- 
gative ability, complaints against 36 wealthy Americans who 
exceeded the S25.00U annual limit on federal campaign con- 
tributions: "Our fear is the dropping of cases sends a signal to 
wealthy political donors that the laws are not always going to 
be enforced and they can easily take their chances and exceed 
the limits without worrying about any penalty." i L AT > 


Vaccine for Lyme Disease 
Developed by U.S. Team 

Reuters 

LONDON — American scientists reported Thursday that 
they had altered a tuberculosis vaccine so that it would work 
against Lyme disease, a tick-home infection. 

Lyme disease, which was first diagnosed in 1975, is the 
most common insect-borne infection in the United States and 
has also been reported in Europe, Japan, China, Russia and 
Australia. 

Doctors at Mcdlimmme Inc. and the University of Texas 
said they had altered a vaccine known as bacillus Calmette- 
Guerin. which is used against tuberculosis. Sprayed into the 


reported in the science journal Nature. A Medlmmune 
spokesman said the nett step would involve testing the 
vaccine on primates, with an eventual goal of human testing. 

Lyme disease causes flulike symptoms and joint inflamma- 
tion that, if not treated, can persist for years. About 10,000 
new cases are reported in the United States each year. 

Medlmmune, based in Maryland, develops, manufactures 
and markets medications and vaccines for treatment and 
prevention of certain infectious diseases and cancers. It and 
several other companies have been working on finding a 
vaccine against Lyme disease. 


Quebec Chief Unveils 
Independence Measure 

Critics Attack Move as Premature 


y 


Away From Politics 


• A man threatening to jump from the George Washington 
Bridge in New York was calmed by Howard Stan over the 
ohone during a live national broadcast of Mr. Stems radio 
show The man, who walked onto the bridge and cafled Mr. 
Stem on a cellular phone, was taken to a hospital, said the 
police, who added Bat there was no evidence of a hoax. (AF) 
-• Two radical fugitives accused of buying plastic explosives in 
a nlol to help aPuerto Rican separatist leaderescape from 

^ gjasiaaaatagas 

postal officials and rdnforeed the image of lhe Postal Sennce 

Us a dangerous place to work. < yYr > 

• Smokers are being deceived by advertising into thinking that 

low^wlow-nicotine brands are less dangerous, according to 
aTedSd He health benefit “of switching to low-tar 
Ld SotiTdgarettes is minimal compared to quittum 
entirely." the panel’s leader said. W) 

• A unmraty whose scientists don* bumui 

S £ ^^ottor^ashinmon Uni^ty for 

tes™ test spring violated the legally requned separauonof 

church and state. _ m, r* r_i, 

m Mn. Alfreds of people have offered to adopt an OH EugGsh 
SSSy died after drug smuggfers sui^y 

^^Si^caine-fined condoms mm abdomen. (NYT) 


ORANGE: County’s financial Woes Send Tremors Through Watt Street SS its Jrst formal 


Continued from Page I 

manias like the low-interest 
nanza of the early 1990s reverse 
selves, just as they did after the Federal 
Reserve started raising rates on Feb. 4. 

The immediate result, said Sam Kahan 
of Fuji Securities, will be more cautious 
investors in money markets, although he 
expected that to unwind when they discov- 
er that Orange County is not another Mex- 
ico. 

In a long scheduled appearance before 
Congress, the Federal Reserve chairman, 
Alan Greenspan, testified Wednesday that 
the U.S. economy was sound, that lie was 
worried about inflation, and that he was 
also closely watching the derivatives mar- 
ket (Page 15) 

That market proved the undoing of Or- 
ange County’s financially aggressive trea- 
surer, Robert 3L Citron, who resigned 
when his overleveraged investments 
soured in a mistaken bet that rates would 
faR 

But Mr. Greenspan did not offer Mr. 
Citron or the morethan 180 mnmcipalities 
that invested in bis fund a federal safety 
net as Paul Vokker, his predecessor, did 
for Mexico and lenders to stabilize the 
world financial system. He did not seem to 
think it necessary, said Astrid Adolfson of 
MCM Moneywatch. She explained: 

“Some of the big boys got stock in this. 


and they are going to have to get unstuck 
by themselves. This time we haven’t caught 
big banks and whole countries, but small 
towns and cities, and it will take time for 
the others to surface. Nobody knows how 
many there are, but Greenspan has just 
told them they’re on their own.” 

Among the largest firms caught by Mr. 

Citron's investments was Merrill, Lynch & 

Gx, whose bond salespeople seem to have 
encouraged Mr. Citron by selling him de- 
rivative securities issued by quasi-govern- 
ment agencies such as the Federal Nation- 
al Mortgage Association. 

These bondSj known as “inverse float- 
ers,” pay more interest when rates fall and 
less when they rise. That enables them to 
serve as a bet on the gains or losses of the 
underlying price of the security. 

Had the Mr. Giron simply bought these 
floaters and sat on them, Orange County 
probably could have ridden out the storm. 

But as his municipal clients belatedly, dis- 
covered, the fund borrowed money from 
the big securities houses to buy more, so . He said it was given K 
the total investment of $7 bflhon had a “vested in a segregated 
paper value of $21 billion — until the Fed “stead mingled with oi 
raised rates early in the year. 

At that point, the yield from the floaters 
fell and was not enough to pay the interest 
an the money that bad beet borrowed to 
buy than. The county found itself, in Wall 
Street terms, undo- water. 


Peter Swan, treasurer of the Irvine 
Ranch Water District and one of the 
fund’s largest investors, said he expected 
banks would probably organize a rescue 
package with state and possibly federal 
guarantees. 

But the securities are unlikely to regain 
their par values, and the losses will eventu- 
ally have to be made up by higher taxes, 
delayed project spending, and bitter argu- 
ments in bankruptcy court over sharing 
the losses between the the county and the 
Wall Street professionals who sold the 
bonds in the first place. 

Meanwhile, Terry Slattery, an invest- 
ment analyst for the Orange County Em- 
ployees Retirement System, accused Mr. 
Citron of violating instructions from the 
county’s pension fund and placing $65 
million of retirement funds in the county's 
pool, Bloomberg Business News reported. 
Mr. Slattery said the money came from 
bonds the county sold in September. 

He said it was given to Mr. Citron to be 
invested in a segregated account but was 
instead mingled with other funds in the 
county’s investment pool, which was fro- 
zra whoa the county and thepool filed for 
bankruptcy protection late Tuesday. Mr. 
Slattery said Mr. Citron had assured Mm 
orally that the money would be kept apart 
from the pool. 


By Charles Trueheart 

Washington Post Service 

TORONTO — Quebec's new 
separatist government has un- 
veiled its first formal plans to 
steer the province to indepen- 
dence by 1996. Rattled defend- 
ers of the Canadian federation 
called the process “il- 
itimate” and “undemocrat- 
ic.” 

Premier Jacques Parizeau on 
Tuesday introduced legislation 
in the provincial Parliament 
that lays out for the first time 
the teams of Quebec sovereign- 
ty that voters win be asked to 
approve in a referendum next 
year. In the meantime, Mr. Par- 
izeau said, Quebeckers will be 
invited to participate in “an 
enormous democratic exerci- 
se. . .to build our country: Que- 
bec.” 

The timing of the extensive 
public consultation process, 
during February and March, in- 
dicated that the referendum 
could come by June. 

Mr. Parizeau promised to put 
the mostly French-speaking 
province on the “autoroute to 
sovereignty” in the election 
campaign last summer that 1 
brought the separatist Parti 
Qu£b£cois to power for the first 
time since 1985. Quebec's fitful 
romance with independence 
has been an obstacle to national 


unity and a source of bitter re- 
crimination between Eng lish 
and French Canada for most of 
the last quarto-century. 

Current polls indicate that 
the referendum would lose, as 
the last and only other such 
Quebec referendum did in 
1980. But Canadians got a dose 
of the unexpected last week 
when Mr. Panzean’s charismat- 
ic ally, Lurien Bouchard, nearly 
died from a flesh-eating disease 
that cost him his leg. Hu ordeal 
according to much of the ensu- 
ing analysis, had added heroic 
luster to the separatist cause. 
Mr. Bouchard's doctors said his 
recovery was continuing, and 
he was expected to be on the 
referendum camp aig n trail by 
spring. 

Quebec’s opposition leader, 
the former Premier Daniel 
Johnson, a Liberal was among 
many detractors who called the 
Parti Qufcbecois document un- 
democratic because some of in 
language presumes that a ma- 
jority of Quebeckers favor sov- 
ereign status for the province 
Mr. Parizeau’s thin victory ova 
Mr. Johnson in the Sept. U 
election, with only 44.7 pareni 
of the popular vote, reflected 
continued misgivings amont 
many Quebeckers about tin 
consequences of separating 
from Canad y, 4 


i 




INTERNATIONAL ttkh Ai,n TRIBUNE, THURSDAY, DECEMBER 8. 1994 



Russia’s Bosnia Line 
Called Fault of U.S. 

Bid to Push NATO Eastward 
Was Ill-Timed, EU Chief Says 


The Associated Prat 

BRUSSELS — Tbe Europe- 
an Union's chief executive 
blamed the United States 
Wednesday for Russia's hard- 
line stance on the Bosnian war, 
which caused a pan-European 
security meeting to end in dead- 
lode a day earlier. 

The Cliiiton administration’s 
bid — driven by congressional 
critics of NATO — to start the 
process of the alliance's east- 
ward expansion has alienated 
President Boris N. Yeltsin of 
Russia, said Jacques Delons. 

“I believe it was a premature 
initiative," said Mr. Delors, the 
outgoing president of the Euro- 
pean Union's commission and a 
possible candidate for the 
French presidency. 

Mr. Ddors said he would 
have counseled the United 
States against proposing an en- 
largement of tbe North Atlantic 
Treaty Organization now, a 
move that he said “complicates 
the forging of the necessary re- 
lations between the United 
States, European Union and 
Russia.” 

The NATO foreign ministers 
agreed Dec. 1 on a one-year 
study of the terms for NATO 
membership for East Europe- 


ans. That day, Foreign Minister 
Andrei V. Kozyrev of Russia, 
attending a previously sched- 
uled meeting with the foreign 
ministers, declined to endorse a 
broad NATO- Russia military 
cooperation program. 

He accused NATO of divid- 
ing Europe anew by absorbing 
Moscow’s former allies, a theme 
that also spoiled the Budapest 
summit meeting of the 52-na- 
tion Conference on Security 
and Cooperation in Europe. 

At a meeting starting Friday 
in Essen, Germany, the EU 
leaders are to endorse a strategy 
for some East European coun- 
tries to bring themselves up to 
speed to join the Union some 
day. 

That go-slow approach to 
economic integration “is more 
consistent with the concerns of 
those countries than the en- 
largement of the Atlantic alli- 
ance,” Mr. Delors said at a 
news conference. 

Mr. Delors will step down as 
the EU chief in January after 
nine years and may run for the 
French presidency next year. 
He said he had made a decision 
but would keep it to himself for 
now. 


RAPE: Tribunal Lacks Evidence 


Continued from Page 1 

abused night after night. The 
European investigators and 
Amnesty International report- 
ed that all three parties to the 
conflict, including M uslims and 
Croats, had sexually assaulted 
women, but that Bosnian Serbs 
had been the main abusers. 
They said that men In detention 
camps had also been abused. 

At the tribunal’s headquar- 
ters on the outskirts of The 
Hague, officials say a shortage 
of money and staff has slowed 
the pace of their work, leaving 
them waiting for new funds 
from the United Nations. Piles 
of evidence already gathered 
from refugees lie unsifted and 
untranslated. Richard Gold- 
stone, the chief prosecutor, said 
that his staff of SO people re- 
quired at least twice as many 
interpreters, secretaries, law- 
yers, and investigators. 

Tbe shortages affect all of the 
tribunal's activities, which in- 
clude reviewing a lorn; list of 
atrocities. But women’s rights* 
groups, which have played a 


Australia Slow, 
But Under Way 

Reuters 

BOULDER, Colorado 
— Satellite measurements 
show Australia creeping 
north-northeast two to 
three inches (five to eight 
centimeters) a year, a rate 
that means that it would 
travel about a mile over the 
next 20,000 to 30,000 years, 
a university study says. 

“All these measurements 
provide direct evidence of 
tectonic motion that we 
simply did not have be- 
fore,” said Kristine Larson, 
assistant aerospace engi- 
neer at the University of 
Colorado. 

Measurements were 
made by the Global Posi- 
tioning System, a group of 
25 military satellites that 
beam radio signals to 
Earth, operated jointly by 
the departments of Defense 
and Transportation. 


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Business Message Canter 
every Wednesday 


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Bonn to Ignore Request 
For Air Cover in Bosnia 

Call by NATO for Fighter-Bombers 
Dismissed by KoM Aide as Unofficial 


The EU Oommissltm president, Jacques Delors, taki 


NataScK wIoJicf /Rcag* 

in Brussels. 


Perry Denies U.S. Lost Credit Over Bosnia 


key role in brin g in g reports of 
systematic rape into the lime- 
light, worry that foot-dragging 
may once a gain pmrginalhre 
sexual crimes against women. 

These groups complain that 
so far the tribunal has not ade- 
prepared to deal with 
against thousands of 
girls and women. And they note 
that the coart is pitifully short 
of female experts, who are con- 
sidered indispensable to the 
sensitive task of questioning 
vic tims and witnesses. 

“For the victims, it’s impor- 
tant that prosecution happens 
as soon as posable, ana, be- 
sides, rape is still going on,” 
said Jacqiii Hunt, a lawyer with 
the women’s rights group 
Equality Now, in New York. 

Mr. Goldstone, a member of 
South Africa's Supreme Court 
who took up his post as chief 
prosecutor uz August, agreed 
that 2 women among the tribu- 
nal’s 11 judges were not 
enough. “Obviously, I'd prefer 
there to be more women 
judges,” he said. But he expects 
no changes on the panel, named 
by the UN General Assembly. 

Of the tribunal’s 22 lawyers, 
8 are women; there are also 
only 3 women among the 18 
investigators. 

“We have insufficient women 
all around," Mr. Goldstone 
added. “We hope to correct that 
with the new hiring next year.” 

The war tribunal will not be 
the first to hear charges of mass 
rape, but it is expected to deal 
with the issue more prominent- 
ly than any before. 

“Rape has never been the 
concern of the international 
community,” said Mr. Gold- 
stone, who gained a reputation 
for independence wfaDc heading 
inquiries into political violence 
in South Africa. “Ifs important 
that this be dealt with.” 

He acknowledged that this 
raised difficult questions. 

“One wants to protect vic- 
tims who don’t want to talk, let 
alone talk in public," he said 
“But to enable the public to 
understand the seriousness of 
these events, we need to hear 
these women's voices." 


Reuters 

WASHINGTON — The 
United States has not lost credi- 
bility in refusing to send troops 
into Bosnia after demonstrating 
its willingness to fight Iraq in 
the Gulf, Defense Secretary 
William J. Perry said on 
Wednesday. 

He also denied that the 
North Atlantic Treaty Organi- 
zation had suffered fatal politi- 
cal wounds in Bosnia’s civil war 
and said the alliance would re- 
main as a bulwark of European 
and world security. 

Mr. Perry, after a speech on 
Gulf policy to the Middle East 
Policy Council, a private orga- 
nization, said that Bosnia, un- 
like the Gulf region, was not an 
area of vital national security 


interest for Washington and 
there f o r e did not warrant the 
use of U.S. troops tak ing sides 
in the cavil war there. 

“No, I don’t think the situa- 
tions are at all comparable,” 
Mr. Perry replied when asked 
after Iris speech on Gulf policy 
whether U.S. decisions on Bos- 
nia had eroded Washington's 
credibility. The Clinton admin- 
istration has been criticized by 
some allies for refusing to send 
peacekeeping troops to Bosnia. 

“We have not, first of all, 
defined Bosnia as a vital nation- 
al security interest of tbe Unit- 
ed States,” Mr. Perry said “Our 
involvement there is in a peace- 
keeping operation, not in a 
combat operation. The situa- 
tions are entirely different.” 


Later, he was asked in an 
interview with news agency re- 
porters if allied criticism over 
U.S. refusal to send ground 
troops to Bosnia coupled with 
Europe's inability to end the 
war signaled the post-Cold War 
disintegration of NATO. 

“I continue to believe that 
NATO is the most valuable se- 
curity institution in the world 
today and therefore it is very 
important that we take efforts 
to maintain its Strength, to 
maintain its cohesion.” he said. 

He predicted that the alliance 
would re main healthy. ^Not 
only do we believe that is an 
important objective, but that 
has cer tainly been the same 


view expressed by all of my 
NATO counterparts." 

Mr. Ferry told repeaters that 
the removal of United Nations 
forces from Bos- 
_ ave the way for 
NATO bombing raids to pres- 
sure the combatants to end 
fighting. But he refused to say 
now if he would support such 
strikes. 

He discussed Bosnia in tele- 
phone conversations with two 
NATO defense ministers, Fran- 
Leotard of France and 
lcohn Riflrind of Britain. He 
wiB meet Mr. Leotard on Mon- 
day in Washington and hold 
talks Tuesday in Brussels with 
Mr. Rifirind on the eve of a 
NATO defease ministers meet- 
ing. 


German Court Rules Coal Tax Illegal 


By Brandon Mitchener 

International Herald Tribune 

FRANKFURT — Germa- 
ny’s highest court ruled 
Wednesday that the surcharge 
that subsidizes domestic coal 
production was unconstitution- 
al, a decision that will force the 
government to find a new way 
to provide $4.5 billion a year to 
the industry. 

The Federal Constitutional 
Court gave the government un- 
til 19% to eliminate the so- 
called “coal penny” system, in 
which electricity companies 
charge customers a 15 percent 


surcharge on their monthly 
bills. 

The surcharge to aid coal 
production in North-Rhine- 
Westphaha and Saarland states 
is to rise to 15 percent in 1995. 

The Finance Ministry had no 
immediate comment on the rul- 
ing. But Economics Minister 
Gtinter Rexrodt said it would 
be “unavoidable to consider 
whether we could raise the re- 
quired funds through a new 
tax” if the coal industry is to be 
subsidized out of the federal 
budget, which is already 
strained by the cost of German 
reunification. 


The court’s decision comes as 
the government searches for 
ways to reduce individual and 
corporate income tax rates, 
which are among the world’s 
highest 

The government had been 
considering an energy tax to re- 
duce the country's output of 
carbon dioxide, which contrib- 
utes to global warming. 

The coal industry had expect- 
ed to receive as much as 75 
billion Deutsche marks (S4.S 
billion) in subsidies through 
this tax in 1996, and as much as 
7 billion DM a year for the next 
four years. 


But the Federal Constitu- 
tional Court, acting on a com- 
plaint filed eight years ago. 
ruled that it was unconstitu- 
tional to charge only electricity 
consumers the subsidy. 

The court suggested electric- 
ity was “a starting point for a 
consumption tax” but said that 
a broader tax would be more 
appropriate. 

German coal production is 
the most expensive in. Europe 
and has come under increasing 
scrutiny as the use of cheaper 
and cleaner-burning sources of 
energy spreads. 


By Craig R. Whitney 

jVew York Times Sendee. 

BONN — Chancellor Hel- 
mut KohTs government said 
Wednesday that it would ignore 
a request tiy NATO military au- 
thorities for specially equipped 
German aircraft to boost the air 
cover for United Nations forces 
in Bosnia. 

The move underlined' Ger- 
man reluctance to be drawn 
into an active combat rede in 
NATO’s thwarted effort to use 
the threat of outride military 
force in the Balkans. 

German officials said they 
had been asked by the NATO 
nrihtazy command on Nov. 30 if 
they would make available six 
to eight Tornado fighter-bomb- 
ers with special electronic capa- 
bilities for use against increas- 
ingly active mobile Serbian 
s urf ace-to-air missile launchers. 

A statement issued Wednes- 
day by Mr. Kohl’s chief of 
chancellery, Friedrich Bohl, 
said that the NATO secretary- 
general, Willy Klaes, had con- 
firmed that tiie request for the 
German planes had not been a 
formal or official one by tbe 
affiance. 

“In view of these facts, the 
government sees no need for a 
decision,” Mr. Bohl said. 

Serbian missile sites near the 
besieged Muslim enclave of Bi- 
hac began posing an increasing 
threat last month to air cover by 
the North Atlantic Treaty Or- 
ganization for United Nations 
troops in the “protected area” 
of Bihac, the Muslim enclave 
the Serbs have been pounding 
in northwest Bosnia. 

The NATO allies rejected an 
American request to consider a 
campaign of stepped up air 
strikes against the Sobs, and 
turned to diplomacy, which has 
been equally ineffective 

Earlier this week, at a meet- 
ing of the 53-nation Conference 
on Security and Cooperation in 
Budapest, Mr. Kohl appealed 
for a statement calling for a 
cease-fire. “I do not want to go 
home and answer questions 
from people who say, ‘what did 
you do on Bihac?* ” Mr. Kohl 
said. 


preside 
his gov 


But on Wednesday, after-Mr. 
Kohl went home to . Bonn to 
: over a cabinct meeth^ 
government answered fthc 
allied ittguest for Gtnnanjfar- 
planes with sflenoe. . -f’ 

The NATO supreme sffied 
commander Europe, General 
George Jouhvan of tile United 
States, had relayed the request 
to the German Defease Minis- 
try, a move seen by many Ger- 
man commentators arid, -offi- 
cials as a challenge that corid 
force Germany against kMrifl 

to take on an active combat mfe 

in tbe former Yugoslavia. . - 
Germany has avoided: Jc&g 
so primarily on the ground tfeu 
memories of Nari War' comes 
there are still fresh. : : ' ; : • 

But until a court mHng last 
summer found fhartbe coun- 
try’s 1949 constitution did hot 
bar militaiy missions, bqyund 
the German borders, _<3aaan 
politicians had also argnedi t&at 
their rmhtaiy could only heas- 
signed to NATO tockftidGcr- 
man territory from outside at- ‘ 
tack., • 

The Constitotuxual Court m 
Karlsruhe said in Juljr.thatGd:- 
m»n soldiers could also partici- 
pate in international peace* 
keening missions under Untied 

Nations auspices, if thelej^rift- 

hire agreed. i,-'- 

Public mistrust pf ftwtfifcn ; 
nrilitaiy entangtemeBX^^i&ms, 
strong, as a public c^hncpi po& 
ofl ,007 Germans by the 

ma gartne Stem 

week. Fifty-four pexcearffdf 
them said they opposed^Gct- 
man air strikes aga&jst|jfe 
Serbs in Bosnia. '.J’.Tjj-jf- 

The opposition Social perao- 
cratic Party leadtf & pa&fc 
ment, Rudolf Schaipihg,LS& 
Wednesday that the p&py 
would oppose sending German 
planes into combat there. : . 

, NATO officials in Brussels 
said that the request for tbe 
planes had been discussed at 
the edges of last week’s meeting 
of foreign ministers, bus not 
pressed. It was not put to a 
regular meeting of the alliance’s 
permanent representatives on 
Wednesday, they said. 


ARMY: Readiness Slips in EufojM 


TORIES: Britain Wonders Whether Major Can Survive Until End of Term 


Coutaned from Page 1 

1970s have votes on a budget amendment 
been lost 

The immediate problem for Mr. Mayor, 
and for his chancellor of the Exchequer, 
Kenneth Clarke, was to fill a $23 billion 
hole in the budget Mr. Clarke was to 
announce substitute revenue measures on 
Thursday. More pressing was the need to 
steady the financial markets, which do not 
take kindly to a political mutiny that un- 
ravels the country’s fiscal plan. 

At 9:30 Wednesday morning, less than 
12 hours after the vote, the chanced or 
raised the interest rate by a half-point, to 
635 percent from 5.75 percent. While the 
raise had been expected, the timing was 
dearly intended to send the message that 
the government was still in charge and 
aiming to damp down inflation and con- 
trol economic expansion. 


Over the long run, Mr. Major's chal- 
lenge wifi be to restore his credibility and 
Ids hold over the party in time for an 
ejection, which must be held by mid-1 997. 
To regain popularity, Ik is looking to Brit- 
ain’s economic recovery, which is moving 
ahead, and an emphasis on strong new 
measures to strengthen the powers of the 
police in questioning criminal suspects. 

In dealing with the party, he has tried 
contradictory tactics, at times threatening 
the Tory rebels and at other times offering 
them concessions. Last week, he quelled a 
revolt by “Euroskeptics” — those wary of 
merging more closely with the rest of Eu- 
rope as called for by the Treaty on Europe- 
an Union — by dedaring a vote on Brit- 
ain’s contribution to the European Union 
to be a vote of confidence in his govern- 
ment. 

This meant that when eight Conserva- 


tives refused to vote the government line 
last week, they had to be punished. They 
were in effect drummed out of the party, at 
least for the time being. The move back- 
fired. It reversed Mr. Major's slender mar- 
gin in the House of Commons, giving him 
control of 3 22 votes compared with 324 for 
opposition and Tory rebel votes combined. 
And when the critical vote on the fuel tax 
came, the rebels felt free to “vote their 
conscience.” All but one either opposed 
the government or abstained. 

And now Mr. Major is faced with anoth- 
er agonizing decision: whether to let the 
rebels back in. If he does, his punishment 
counts for very little. But if he does not. he 
continues to run the political risk, not to 
mention the ridicule, of being one of the 
West’s few leaders to voluntarily turn his 
own majority government into a minority 
government 


QUEEN: A Planned OH Well Near Windsor Castle Upsets the Neighbors 


CoBtmoed from Page 1 
hQl could be worth as much as 
£1 billion. 

Desmond Oswald, the man- 
aging director of Canuk Explo- 
ration, the company seeking the 
permission, noted that there 
was typically a one in eight 
rhartrfl of finding oil in a wild- 
cat welL The chances of finding 
commercial quantities he put at 
no better than 30 to 1. If it does 


pan out, Mr. Oswald would be 
the chid! beneficiary. For the 
queen there would be only what 
crown estate officials describe 
as a “very small beer” fee for 
her granting permission. 

“Geologically it is a well lo- 
cated site, but environmentally 
it is a bit sensitive,” Mr. Oswald 
said. “But you can’t have every- 
thing.” 

Mr. Oswald acknowledged 


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that he was widely advised at 
the outset to drop his bid. He 
also said his plans for two 
months of day-and-night drill- 
ing b eginnin g in August were 
no accident. 

“The queen is away those 
months,” ne said. 

At the headquarters of the 
Berkshire County Council, 
where the fate of the well will be 
decided on Jan. 4, the chairman 
of the development control 
committee noted mixed feelings 
about the matter. On the one 
hand, said the committee chair- 
man. Donald Beer, oQ wells 
generally fall into tbe “not in 
my backyard” group of devel- 
opments. On the other band, he 
said he detected the first rum- 


blings of a gusher of greed 
among the populace. 

“People are wondering how 
much oil is in their garden,” Mr. 
Beer said. “It figures that they 
would discover oil under the 
houses of one of the richest 
women in the world and all of 
us poor people have nothing.” 

For the queen, there was per- 
haps one bit of good news on 
Wednesday. The Sun, a tabloid 
newspaper, reported that faced 
with eviction next month from 
her rented house, which has 
now been sold, the Ducbess of 
York is weighing moving back 
in with her estranged husband. 
Prince Andrew. 

“My husband would be de- 
lighted,” she told the paper. 


Goutinaerf from ftge 1 

edonia, Kuwait,. Rwanda and 
more than two dozen other 
trouble spots. 

President Bill Clinton an- 
nounced last week that he 
would seek an additional $25 
billion in Pentagon spending 
over the next six years. Army 
officials also acknowledge that 
they hope the new Republican 
majority in Congress will pro- 
vide additional short-term 
funds in a supplemental appro- 
priation bflL 

A senior army official said 
that although combat divisions 
in Europe had previously been 
classified as less than fully 
ready — during the Vietnam 
War and the Gulf War, for ex- 
ample — it was typically be- 
cause crucial personnel and 
equipment had been seconded 
to another theater. This is the 
first time in memory that the 
entire European combat force 
has been classified as C-2 be- 
cause of insufficient training, 
the official said. 

Readiness is a much debated 
topic in military circles and a 
difficult concept to quantify. 
But even with the Cold War 
consigned to histoiy, being pre- 
pared to fight r emains para- 
mount in the credo of the U.S. 
military. 

Although forces in Europe 
are no longer likely to wage 
World War 111 against the Rus- 
sians, the chance of combat 
somewhere against some foe re- 
mains high- Should United Na- 
tions forces in Bosnia require 
extraction under fire, for exam- 
ple, the 1st Armored Division 
would likely be part of a NATO 
rapid deployment force sent to 
provide cover, army officials 
said. 

General Maddox, who has 
commanded U.S. Army forces 
in Europe since July 1992 and is 
about to retire after 35 years in 
uniform, said that he had fun- 
nelled $150 million from train- 
ing funds to various quality-of- 
lifc accounts in fiscal 1993 and 


did the same thing, in fiscal 
1994. 

In. both years,- he added, he 
received from Congress an ade- 
quate framing budget bat. only 
60 percent of the money needed 
to operate the army’s 370 bases 
and other installations in Ger- 
many, Italy, Belgium and the 
Netherlands. 

General Maddox estimates 
that be will have a $170 million 
shortfall this year even without 
undertaking any new construc- 
tion or tackling “a backlog of 
repair and maintenance.” 

By the army’s own standards 
the combat divisions in Europe 
are adequately trained “to un- 
dertake most wartime mis- 
sions.’' Few commanders would 
argue that national security has 
been imperiled by the recent 
slippage; but many senior offi- 
cers who served in the dispirited 
“hollow Army” of the 1970s in- 
terpret current trends as por- 
tents of worse things to come. 


Santa Line Cut 
By Scroogelike 
French Official 

Agence France-Presse - . 

PARIS — Officials 
pulled the plug Wednesday 
on a dial-a-Santa service 
for French children, saying 
the service was a con. be- 
cause Father Christmas 
was not really on the other 
end of the line. 

“The words which pre- 
tend to be those of Father 
Christmas are simply des- 
tined to keep the caller cm 
the line,” said Alain Laca- 
barats, a magistrate, up- 
holding a claim by a . par- 
ents’ group that the service 
was a fraud. 

He said the service, run 
by- a company in Aix-en- 
Provence was “manifestly 
flHciL" • 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


Page 5 


Rift Opens in New Japan Opposition Party 

Cor W&d kOur Staff Fm*,n -1. 1. J. J 


•• n— .. 

N i 7 ‘ 

•• ' 

-■ . . >. , 

" - 

r* " v 


TOKYO — A nJTt emerged in 
Jagn s new opposition pany 
before its formal launching this 

- former Prime Minis- 

* WphIS 0 ™ 11 Hala deciding 
Wednesday to compete for the 

leadershrp wufa another former 
T P 11 ™ 6 twister, Toshiki Kaifu. 

Analysts said that by an- 
■ ®punang his candidacy. Mr. 
Ha ta w as rebelling against his 

' l °ogtnne ally Ichiro Ozawa, die 

• kingmaker who will 

- become secretary-general of the 
;► party, called New Frontier. The 

- party is to be formed on Satur- 
~ day. 

' Earlier Wednesday, Mr 
Ozawa tried but failed to di^ 
suade Mr. Hata from running 


for the leadership of the party, 
which brings together nine op- 
position groups. 

Both Mr. Ozawa and Mr. 
nata are from the Japan Re- 
newal Party, and Mr. Ozawa 
reportedly said he hoped that 
Mr. Hata would forsake becom- 
ing a candidate to avoid creat- 
ing the impression that a single 
party was dominating the alli- 
ance. 

The New Frontier Party will 
be the second largest political 
force in the country, with 180 
seats in the lower house, com- 
pared with 200 for the Libera! 
Democratic Party, the main 
partner in Mr. Murayama’s co- 
alition. 

Mr. Ozawa was reported to 


have tried to shape a consensus 
On making Mr. Kaifu leader 
and himself secretary-general. 
But that proposal was defied by 
Mr. Hata. 

Keiwa Okuda, a veteran law- 
maker from the Renewal Party, 
said that younger members 
were supporting Mr. Hata 

The leadership will be con- 
tested on Thursday between 
Mr. Hata, Mr. Kaifu and a third 
candidate, Takashi Yonezawa 
the chairman of the Democratic 
Socialist Party. 

Both Mr. Hata and Mr. 
Kaifu, former stalwarts of the 
Liberal Democratic Party, are 
seen possessing the political 
credentials to lead the new par- 
ty- 


As prime minister from 1989 
to 1991, Mr. Kaifu made efforts 
to push through political re- 
forms. 

Mr. Hala was the last prime 
minister of the anti-Li beral 
Democratic bloc that now 
forms the core of the new party, 
serving in the post for two 
months in mid- 1994 before the 
Socialists walked out of the alli- 
ance and Mr. Murayama be- 
came prime minister. 

The impetus behind the for- 
mation of a broad-based party 
is the single-seat electoral sys- 
tem introduced under political 
reforms enacted in November, 
which works against small par- 
ties. 

(AFP. Reuters) 


U.S. Reaffirms 
link to Taiwan 

The Associated Press 

TAIPEI— The US. sec- 
retary of transportation. 
Federico F. Pefla, wound 
up a rare visit to Taiwan on 
Wednesday by promising 
closer ties with Washing- 
ton. 

Mr. Pena said he had re- 
affirmed the Clinton ad- 
ministration's co mmitmen t 
to strengthen economic and 
cultural relations between 
Taiwan and the United 
States. 

China, which regards 
Taiwan as a renegade prov- 
ince, registered “firm oppo- 
sition and strong displea- 
sure" over Mr. Pefia’s visit. 


North Korea Set to Get Promised Oil 



Compiled try Oir Staff Front Dispatches 

SEOUL — The first ship- 
ment of heavy oil promised to 
North Korea in return for its 
freezing its nuclear program 
will be delivered before the end 
of December, a South Korean 
company said Wednesday. 

Honam Oil Refinery Co. said 
the U.S. Defense Department 
had awarded it a contract to 
supply 50,000 tons of oil, worth 
$4.2 million, to North Korea 
before Dec. 30. 

Under an agreement signed 
with North Korea in October, 
Washington is arranging to sup- 
ply the North with two modem 
nuclear reactors in return for its 
halting operation or construc- 
tion of reactors suspected of be- 
ing used to produce nuclear 
weapons material. 


The deal also calls for the 
United States to supply 500,000 
tons of heavy oil a year until the 
new reactors are built, by 2003. 
In return. North Korea must 
open all its nuclear installations 
to outride inspections. 

Recent defectors from North 
Korea have reported acute fuel 
and food shortages in the reclu- 
sive Communist state. The 
company said the heavy oil to 
be provided could only be used 
for heating. 

A Republican U-S. senator 
who has been critical of the ac- 
cord said he would travel to 
North Korea on Sunday. The 
senator, Frank HL Murkowski 
of Alaska, said be would be 
joined by Senator Paul Simon, 
Democrat of Illinois, in the first 
visit to Pyongyang by U.S. leg- 


islators since the death in July 
of die longtime ruler, Kim II 
Sung. 

Speaking to reporters in To- 
kyo, Mr. Murkowski said he 
was worried that the agreement 
allowed North Korea to keep its 
exis ting nuclear installations se- 
cret for another five years. He 
said he would tell North Kore- 
an leaders of his concern. 

But Mr. Murkpwski, who is 
expected to become head of the 
East Asia and Pacific affairs 
subcommittee of the Senate 
Foreign Relations Committee 
in January, also said the United 
States was committed to fulfill- 
ing the terms of the deaL 

U.S. and North Korean ne- 
gotiators met in Washington on 
Tuesday for talks on carrying 
out the accord. 


Plutonium Poses Risk 
At U.S. Storage Sites 


INTERNATIONAL CLASSIFIED 


MANILA TRADE PROTEST — A plainclothes po- 
ticeman arresting a demonstrator Wednesday after 
protesters tried to padlock the U.S. Embassy main 
gate. The police used tear gas at the anti-GATT rally. 


New York Timex Servtcv 

NEW YORK — American 
nuclear weapons plants have 
thousands of containers of plu- 
tonium that could spill their 
deadly contents before the ma- 
terial is properly disposed of. 
posing significant risks to work- 
ers and some risks to the public, 
the Department of Energy says. 

The plutonium, 26 tons in 
liquids, solids and powders at 
13 sites around the country, was 
left over when production of 
nuclear arms materials abruptly 
stopped in the late 1980s. Be- 
cause few thought the shut- 
down would become perma- 
nent, much of the plutonium is 
being stored in forms that can 
leak. 

“The containers were really 
only intended to hold the stuff 
until we got around to recycling 
it in the next weapons cam- 
paign,” said Dr. Tara O’Toole, 
assistant secretary of energy for 
environment, safety and health. 
Now, rile said, radiation from 
the plutonium is breaking down 
metal and plastic in the con- 
tainers; several have already 
leaked, prompting an extensive 
study. 


Some containers are so old 
that no one knows the form of 
the plutonium inside. Lawrence 
Livermore National Laborato- 
ry, in Livermore, California, 
has 282 such containers, of 
which eight are bulging because 
of “unanticipated conditions." 
according to the Energy De- 
partment report, which was re- 
leased Tuesday. 

The study identified Rocky 
Flats, near Denver, as being the 
most vulnerable, but also listed 
the Savannah River site near 
Aiken. South Carolina; Han- 
ford, near Richland, Washing- 
ton, and other locations. The 
report detailed 299 safety and 
health problems. 

“Overall, the department’s 
inventory of plutonium pre- 
sents significant hazards to 
workers, the public and envi- 
ronment, and little progress has 
been made to aggressively ad- 
dress the problem.” the report 
said. 

The Energy Department is 
still working, on plans to re- 
package the material and said it 
may take 10 to 20 years to find a 
long-term solution to the stor- 
age and disposal problems. 


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Cambodia to Cremate Remains of Pol Pot Victims 


The Associated Press 

PHNOM PENH — For 16 
years, the skulls of hundreds of 
; Cambodians have been on dis- 
play to testify to atrocities by 
the Khmer Rouge, held respon- 
sible for the deaths of hundreds 
erf thousands. 

- The Cambodian government 
-*■ said thu week it would cremate 
those remains to put to rest the 
• souls of those worked, starved 
or tortured to death during the 


Khmer Rouge’s 1975-78 reign 
of terror. The group now is en- 
gaged in guerrilla warfare 
against the govcmmenL 

Though some fear that cre- 
mation is a step toward disman- 
tling museums of the atrocities; 
the government says it is merely 
following Cambodian burial 
tradition at the request of King 
Norodom Sihanouk. 

The king, who has long called 
for reconciliation with the 


Khmer Rouge to end more than 
two decades of conflict, has re- 
peatedly urged the government 
to tear down both a monument 
of skulls and a map of Cambo- 
dia created with them. 

The skulls were collected by 
the previous. Vietnamese- 
backed CPmmunist regime that 
seized power from the Khmer 
Rouge in early 1979. That gov- 
ernment wanted them to re- 
main forever as testimony to 


the brutality of the radical 
Marxists. 

Tuol SI eng museum, once a 
Khmer Rouge torture chamber, 
features a cluster of skulls dis- 
played in a map of Cambodia. 


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Page 6 


THURSDAY, DECEMBER 8, 1994 


o 


IN I O N 


Hcralb 


INTERNATIONAL 



(tribune 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


Europe Dithers 


Six months ago, (his was supposed to 
be Europe's time of decision. Germany’s 
presidency of the European Union in 
the second half of 1994, followed by 
France's in the first half of 1995, would 
see the Union’s two main powers set 
Europe on its road into the new century. 
It has not happened. 

When the Union's leaders meet in 
Essen on Friday, near the end of Germa- 
ny's time at the top, it will be seen that 
neither of the two chief things that need- 
ed to be done is in fact being, done. 

One was the obligation to throw open 
the doors. The European Union is either 
a Europe- uniter or a Europe-splitter. If 
it is sot to be a splitter, the new demo- 
cracies of ex-Commtmist Europe have to 
be given a clear idea of how they can win 
full membership. 

The Essen summit will consider a 
vague paper on the subject But it does 
not know where the money will come 
from to tom paper into reality. The 
Union’s southern members will not pay 
the cost of this eastward expansion un- 
less they get the money they want for a 
plan to hup North Africa — a combina- 
tion that would reach deep into the 
pocket of the Union’s increasingly re- 
luctant chief paymaster, Germany. 

Worse, the paper does not say how the 
Union is to change its farm policy in 
order to admit the new eastern mem- 
bers. This is a fatal flaw. Good, cheap 
food will be one of the easterners’ chief 
exports to the rest of the Union. 

The Union most therefore accept 
drastic cuts in its present members' farm 
production, or bust its budget try paying 
out even more in subsidies. Until it faces 
up to this, its talk of eastward expansion 
is so much hot air. 

The other great issue that looks likely 


to be brushed under the carpet in Essen 
is Europe's future constitution. This is a 
subject that could break the Frcnch- 
Gennan axis, and thereby change the 
shape of Europe’s future. 

Some of Chancellor Helmut Kohl's 
chief colleagues have lately been repeat- 
ing, presumably with Mr. Kohl’s ap- 
proval, that in their view Europe must 
become a single, federated state. Even 
a single currency, one of them has said, 
necessarily points to political union. 
These are risky things to say in Germa- 
ny, where a Financial Times opinion 
poll this week suggests that only 24 
percent of Germans want a single cur- 
rency and only 23 percent want closer 
political union. And it has had an ex- 
plosive consequence in France, where 
Prune Minister Edouard Ballad ur felt 
it necessary to say in Le Monde on 
Nov. 30 that an enlarged Europe can- 
not be a federal Europe. 

The matter could conceivably decide 
France’s coming presidential election. If 
Jacques Delors chooses to run as the 
Socialist candidate, his likeliest oppo- 
nent is a man who now seems to think 
that skepticism about a federal Europe 
is a vote-winner. If Mr. Delors does not 
run, no other Socialist seems likely to 
keep the presidency in federation- 
friendly hands. The consequences could 
extend far beyond France. The pattern 
of European power would change, if 
France and Britain combined to back 
the idea of a looser, confederal future 
against the German federalists. 

Yet the subject is not on the agenda in 
Essen; it can be discussed only in 
snatched moments between official ses- 
sions. Europe has once again looked the 
future in the eye, and blinked. 
INTERNATIONAL HERALD TRIBUNE 


Ambushed in Budapest 


Bill Clinton’s European cares blos- 
somed in Budapest He had gone there to 
explore the security uses of the 52-nation 
talk shop known as the Conference on 
Security and Cooperation in Europe. 
Twice he was ambushed. The president 
of Bosnia delivered a tirade against “the 
weakness of the West." The president of 
Russia professed to find an echo of the 
Cold War in NATO’s efforts to bring in 
Central Europeans. 

In the past the CSCE steadied postwar 
borders and legitimized global discussion 
of Soviet-bloc human rights. But at Buda- 
pest it could move only partway to take 
on peacekeeping in Armenia/ Azerbaijan 
as the first security test that many mem- 
bers favor. Most members dragged, being 
no more eager for costly intervention in 
Nagorno-Karabakh than in Bosnia. Rus- 
sia also dragged, not winning its goal of 
CSCE sponsorship of Russian peace- 
keeping but not permitting CSCE control 
of CSCE peacekeeping either. 

Bosnian President Alija Izetbegovic, 
in his complaints about American policy 
in particular, works to widen a growing 
sptiL The Democratic administration is 
now pursuing an ally-oriented “peace 
strategy,” which critics see as appease- 
ment. Newly ascendant Republicans 
promise a battle-oriented, get-even poli- 
cy that the administration calls an invi- 
tation to open-ended war. 


Each policy line promises more than 
it can deliver. The best available course 
would borrow from both sides. United 
Nations ground peacekeepers, whom 
Serbia has made hostages against 
NATO bombing, bad best be with- 
drawn. That would create a humanitar- 
ian nightmare, but it would let NATO 
make a new decision on use of air power 
— a decision on which it would need to 
consult Russia. The Muslim-led Bosni- 
an government would have new access 
to arms but would be pressed to stay at 
the negotiating table all the same. 

At Budapest, Boris Yeltsin strenuously 
objected to NATO enlargement. A year 
ago the “Russia-First” tendency of U.S. 
policy might have guided Washington, 
but it has come to support eventual ad- 
mission of the Central European demo- 
cracies. Part of this stiffening flows from 
Russia's one-sided 19th-century type of 
tilt to the chief aggressors, the Serbs. 

Many Russians are confused and anx- 
ious about NATO expansion, or still 
gripped by the mental habits of empire. 
They need to think about it harder. 

They also need to be assured and 
shown that expansion can reduce uncer- 
tainty in a hypersensitive part of now 
independent Europe and that the result- 
ing continental poise would benefit 
them as well as others. 

— THE WASHINGTON POST. 


Bentsen Will Be Missed 


Treasury Secretary Lloyd Bentsen's 
resignation is bad news to a battered 
White House. Mr. Bentsen knows best 
what the administration desperately 
needs to learn: how to deal with a* Repub- 
lican-led Congress, His consistent voice 
for policy moderation will be missed 
among a chorus of advisers who remain 
befuddled about what the voters meant 
when they rejected the Democrats. 

Mr. Bentsen's clout on Capitol Hill 
was important to Bill Clinton's major 
legislative victories. He fought bard with- 
in the administration, and then in Con- 
gress, for a budget that would cut the 
deficit and raise spending on training and 
education — beating back advice from 
White House pollsters who pushed Mr. 
Clinton to promise a tax cut that he knew 
the government could not afford. 

He also overcame bad advice from 
Democrats tike the majority leader, 
Richard Gephardt, and independents 
like Ross Perot to scuttle the North 
American Free Trade Agreement with 
with Mexico and Canada. 

And he rounded up desperately need- 
ed votes in the Senate last week for the 
GATT trade agreement. 

■ Mr. Bentsen marshaled votes against 
a balanced-budget amendment that, 
among other glaring faults, would have 
stymied the government’s ability to fight 
off recession. He also deserves praise for 
refraining from taking cheap shots at 


tiie Federal Reserve Board for raising 
interest rates as the economy grew at a 
rate he knew was unsustainable. 

Mr. Bentsen did not always win. His 
advocacy of a politically feasible health 
care bill lost out to First Lady Hillary 
Clinton’s grander plan. 

And at times he carried caution too 
far. He did not push for ambitious poli- 
cies — overhauling the tax code, for 
example — that could address profound 
economic problems like the nation's 
stagnant productivity or its pathetically 
low savings rate. Mr. Bentsen has thus 
left a void that the Republicans intend 
to fill, unfortunately, with tax policies to 
reward the rich and punish the poor. 

Robert Rubin, another fiscal moder- 
ate, who runs the president's National 
Economic Council, will be nominated to 
replace Mr. Bentsen. He is a wise choice; 
as one administration official observed, 
Mr. Rubin, the wealthy former head of 
Goldman Sachs, has the “highest ratio 
of money to ego” in Washington. He is a 
seasoned financial expert who wins poli- 
cy fights without bruising the feelings of 
his White House colleagues. 

But even if Mr. Rubin counsels his 
president well, he will find it hard to 
replace Mr. Bentsen in one respect. Mr. 
Cunton will have lost the one cabinet 
secretary who came with built-in credi- 
bility in Congress. 

— THE NEW YORK TIMES 



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The New Job for NATO Should Be Sec 



P ARIS — One would think the Confer- 
ence on Security and Cooperation in 
Europe complementary to NATO rather 
than rivaL Its purpose is to assure a dia- 
logue betwem Russia and the other for- 
mer Soviet countries and the nations of 
the Weston alliance. It was created in the 
course of the Cold War’s winding down,, 
an dement in the detente that broke out 
when Mikhail Gorbachev launched his 
reforms of the Soviet system. 

The practical importance of the CSCE 
is not great, since the organization does 
not actually do very much other than 
talk, and must have a consensus of views 
to be able to do anything at aH 
NATO does do things; It deploys ar- 
mies, conducts air and naval operations, 
is capable of going to war. It is exclusive. 
It is a security alliance, originally direct- 
ed a gainst Russia, which now contem- 
plates admitting that country. 

The CSCE is inclusive. It makes no 
invidious distinctions between nations. It 
is valued by Russia precisely because it 
does not draw a line between vulnerable 
countries anxious about their security, 
and those others thought to be possible 
future threats to good order in Europe. 

Should such invidious distinctions be 
drawn? If not, it is hard to see why 
NATO should exist. Its past role was to 
defend the West against the Soviet 
Union, and there is no more Soviet 


By William Pfaff 


Union. It recently undertook a new role 
as the strong arm of United Nations 
peacekeeping in Bosnia. But this has led 
to confusion and frustration — to the 
h umiliati on both of the United Nations 
and of NATO —and has done little to 
produce or “keep” peace. 

So what is the purpose now of NATO? 
There would seem to be two possible 
functions for the flTKanm The first is its 
classic role; to defend its members 
against a renewed threat from the east, 
should that come. As Russians them- 
selves acknowledge, their country re- 
mains unstable. There is some danger of 
reversion to a belligerent nationalism, 
and conceivably — if we are to take 
seriously the threats of Vladimir Zhiri- 
novsky, a man who wants to be Russia's 
president — erf renewed aggressive be- 
havior toward Russia’s neighbors. 

Much of the debate over NATO takes 
place in terms of an argument that says 
admitting Russia to NATO will strength- 
en democratic forces there, while to ex- 
clude it would strengthen undemocratic 
nationalists. This reflects the dangerous 
assump tion that foreign influences are 
determinant in what happens to Rnssia. 

Surely what happens m Russia's inter- 
nal political affairs during the next few 


years will be determined by internal 
forces. It is rash to think otherwise. Rus- 
sia’s relation s with the West have already 
been soured by die interference of well- 
intentioned Western governments and 
individuals who think that they can, or 
should, teach. Russians what to do. The 
NATO affair is a factor in influencing 
Russian popular and elite opinion, but 
only one factor among many. 

The other function of NATO is to 
guarantee the security of its internal as 
weD as external frontiers, assu ri ng the 
peaceful conduct erf its own members. 
This is a role extremely valuable to Rus- 
sia, as well as to the United States, West- 
ern Europe and the Central and East 
Fn mp i^n countries now candidates for 
NATO m e mbership. In the foreseeable 
future, the threat to pe^cc does not come 
from beleaguered Russia — whatever the 
scenarios envisaged by some Weston 
commentators — but from instability 
bom of e thn ic nationahsm in the region. 

In a fundamental way, it was very easy 
for NATO to protect the West against 
the Soviet Union. The goal was clear. The 
means were available. Everyone believed 
in the necessity of the alliance. The pub- 
lic would pay, and willingly sort its 
young men into NATO service. 

But today one must ask if the Western 
gov ernments are prepared to deal with 
instability in Europe. WHI they 


really guarantee Hungary’s borders, 
when Hungary has old and acnnK»row : 
quarrels with Serbia, Slovakia and Ro - 
mania over the status of Hunfflxmii-m^ * 
norities in those countries? Is the Umted 
States' prepared to accept that any viola- 
tion of Poland’s frontiers is equiyalenUo . 
an attack on its ow n frontiers? Are Brit- " 
ain, France or Germany so prepared?; ; ' 

I think it would be prudent and wse 
for Washington, London, Pans and, 
Bonn to say yes.” Bull am not surethat. 
this decision would have popj riaf Sup - 
port. I favor such a guarante e bec ause I 
think it serves Russia’s interests, too. 
Western-guaranteed stability on Russia’s 
western borders is a veiy good idea. - 

Russia has need of an orderly Central 
and Eastern Europe. So docs the West. 
NATO can provide that. It certainly has J 
a better chance of doing this than it has 
of influencing Russia's internal affairs. 

NATO does have an important future 
role. It is to extend its system of interna*. • i 
tional solidarity eastward, on terms that . 
guaran tee the mutual respect of its mem- ± 
bers for one another’s interests, and re- 
spect of their commitment to negotiation 
and the peaceful adjudication of con- 
flicts. If it succeeds in that, it stabilizes 
the geopolitical terrain that Russia occa- : 
pies, and that is good for everyone. 

International Hendd Tribune, 
n Las Angeles Tunes Syndicate. 


The United Nations and NATO Have a Responsibility to Save Bosnia 


Z AGREB, Croatia — Now 
that the Clinton administra- 
tion has apparently decided to 
join with its European allies to 
appease Serbian aggression, ef- 
forts are under way to persuade 
the Bosnians and the rest of the 
world that the war is over. Even 
former friends of Bosnia are join- 
ing the chorus, the latest being 
George Kenney, the Foreign Ser- 
vice officer who resigned from the 
State Department in 1992 in pro- 
test against U.S. policy in Bosnia. 

In a commentary on this page 
last Friday, Mr. Kenney argued 
that the Bosnian government has 
become a “hard-line, anti-demo- 
cratic Muslim entity,” and that 
the United States should disabuse 
the “Muslims” of their “irratio- 
nal and dangerous belief that the 
West will eventually come to 
their rescue.” Mr. Kenney has 


By Charles A. Forrest 


decided that “the West should 
make the Bosnian government 
settle against its wishes.” 

Having myself spent the last 
right months in Sarajevo as a 
member of the United Nations 
Protection Force, and having 
now submitted my resignation 
after the force's craven refusal to 

F rotect the “safe area” of Bihac, 
can sympathize with Mr. Ken- 
ney. But that is no reason to 
condemn Bosnia to death. 

Despite the setbacks in Bihac, 
Bosnia is not dead yet. Even Bi- 
hac is stiH holding out, two weeks 
after Li eutenan t General Michael 
Rose, the UN force's commander 
in Bosnia, decreed that it could 
not be defended. 

If the “M uslims. ” as Mr. Ken- 
ney calls the Bosnian govern- 


ment, stni cling to an “irrational 
belief” that the West should pro- 
tect them, it is because a dozen 
Security Council resolutions and 
the absolute moral principle that 
aggression and genocide cannot 
be tolerated require that the 
West should. 

And the Bosnian government is 
not, by any stretch of the imagi- 
nation, a “hard-line, anti-demo- 
era tic Muslim entity.” 

Faced with the prospect of hav- 
ing their country divided between 
Croatia and Serbia, the Bosnian 
M uslims have naturally sought 
their own identity. Any expres- 
sion of this identity is seized 
upon by the Serbs and tbezr al- 
lies in the West, particularly in 
France, which fears the growth 
of Islamic fundamentalism in 


Europe, as evidence that the 
Bosnian -government is headed 
for Irani an-style repression. But 
there are still Croats and Serbs in 
the Bosnian government, and of- 
ficial policy is still the mainte- 
nance of a multiethnic, multi- 
religious society. 

The Bosnian Serbs do not even 
pretend that the ideological foun- 
dation of their “state” is anything 
but pure racism. They offer the 
non-Serbs in their territory noth- 
ing but the prospect of deporta- 
tion or death or a permanent sta- 
tus as subhumans. If Sarajevo 
surrenders, there win not simply 
be a change in government, there 
will be killing and “ethnic deans- 
ing" on a massive scale. 

The correct response to Serbi- 
an attacks cm the “safe areas” and 
Serbian harassment of the UN 
force is not to bade down or pull 


How Can the West Help? ft-o*** Protectors Who Don’t Protect 

JL r T HE most succinct summary of the British government's ab 

Not by Dropping Bombs 


By Misha Glenny 


S TOCKHOLM — As shells 
continued to fall Monday in 
the Bihac region of Bosnia — just 
500 kilometers from Budapest 
where the Conference on Security 
and Cooperation in Europe was 
meeting — the United States, Brit- 
ain, France; Germany and Russia 
were trying frantically to establish 
a unified, coherent and effective 
policy on the Balkan crisis. 

But there is no good, just or 
safe solution to the hot war in 
Bosnia and the frozen war in Cro- 
atia. The world’s options range 
from very bad to disastrous. 

The five-nation contact group 
is confronted with, a bill that 
keeps rising. The costs stem from 
grave diplomatic and political er- 
rors committed after the Yugo- 
slav federation collapsed in 1991. 

The following are some of the 
possible consequences: a com- 
plete carving up of Bosnia-Heize- 
govina between Serbs and 
Croats; a full-scale Balkan wan 
dissolution erf NATO; collapse of 
U.S.- Russian cooperation, lead- 
ing to the throttling of the United 
Nations Security Council's ability 
to regulate international crises; 
re-establishment of the hostile 
division of Europe. 

If the world accepted the ad- 
vice of Senator Bob Dole and 
former Prune Minister Margaret 
Thatcher, these consequences 
would be likely to cTose in on us 
like a gairote. 

To offer large-scale military 
support to the Bosnian govern- 
ment would trigger a ferocious re- 
sponse from Belgrade. It would 
also place nearly intolerable 
strains on the fragile peace that 
has existed since January 1992 bo- 
tween Croats and Serbs m Croatia. 

Britain, France, Germany, 
Russia and now President Bill 
Clinton are firmly against going 
to war on behalf of the Bosnian 
government because they are con- 
vinced that this would threaten 
stability in Southeastern Europe. 

And the withdrawal of UN 
troops from Bosnia that Newt 
Gingrich has suggested would 
cause untold suffering. The Bos- 
nian government would under- 
standably attempt to confiscate 
all UN equipment, including 
heavy artillery. The Serbs, who 
fear that a pullout would preface 
large-scale air attacks, would pre- 
vent a withdrawal by force if nec- 
essary. NATO would then be 
compelled to engage in bloody 
battles to secure the pullout. 

And once the UN is gone, not 
cmly will civilians in Bosnia lose 
their access to aid, there will be 
nothing to stop a tremendous es- 
calation in the fighting. 

The British and the French are 
now openly considering a with- 
drawal, and the UN’s patience 
is running very low. 

hi an unprecedented outburst 
Thant Mymt-V, a UN spokes- 
man in Sarajevo, has accused the 
Bosnian Serbs of effectively wag- 
ing war against the peacekeepers. 


A full-scale Bosnian and Cro- 
atian war in the north would 
place tremendous strains on Mac- 
edonia in the south. 

One of the Clinton administra- 
tion’s unsung foreign policy suc- 
cesses has bom its stabilizmg in- 
fluence on the southern Balkans. 
By using skilled backdoor diplo- 
macy and cooperating with the 
United Nations in Macedonia, 
where 500 American marines are 
stationed as part of a UN peace- 
keeping farce, Washington has 
helped to ensure that the myriad 
disputes between states in the re- 
gion have not erupted in violence. 

As for Bosnia, the contact 
group’s policy hardly inspires 
confidence. But the group has 
found a most unlikely ally in Slo- 
bodan Milosevic, Serbia's presi- 
dent. His commitment to the 
peace plan is genuine because 
Serbia's economic and political 
isolation is beginning to under- 
mine the only goal he holds dear: 
his domination of Serbia proper. 

But this onetime master puppe- 
teer, who nurtured the Serbian 
nationalists of Bosnia and Cro- 
atia. is no longer able to force his 
prot£g£s to sing and dance to any 
tune he chooses to play. 

Radovan Karadzic and the rest 
of the Bosnian Serbian leadership 
would agree to a revised peace 
plan, but only if they received the 
Muslims’ eastern enclaves of 
Gorazde, Srebrenica and Zepa, a 
widening of the strategic Posa- 
vina corridor in the north, and 
part of Sarajevo. 

Can the West afford to make 
further concessions to the Bosni- 
an Serbs now that it has allowed 
itself to be humiliated? 

The partition of Bosnia has al- 
ready taken place, thanks to the 
March 1994 Washington agree- 
ment, inspired by President Clin- 
ton's team, winch established a 
confederation between Croatia 
and the Muslims and Croats in 
Bosnia. It is illogical now not to 
give the Bosnian Serbs a similar 
relationship with Belgrade. 

So the contact group must hold 
on to its position and apply all 
possible p res sur e on the Bosnian 
Serbs to crane to a deal This it can 
do only through Mr. Milosevic. 

The international community 
must impress upon President Mi- 
losevic that unless he can per- 
suade Bosnian Serbs to say “yes" 
to the contact group's peace plan, 
there will be no lifting of UN 
sanctions against Serbia, 

This is perhaps neither honor- 
able nor even probable, but the 
international community has 
been guided by neither honor nor 
intelligence in this crisis. 

Perhaps those of us working in 
the Balkans have become jaun- 
diced beyond rational thought 
But I no longer see a way out 
I see only dark times ahead 


T HE most succinct summary of the British government's absurd 
position on Bosnia runs like this: The Bosnians cannot be allowed 
to protect themselves, because this would endanger the troops sent 
there to protect them hut who failed to do so. 

The British government’s position involves another absurdity: that 
we should not only abandon the legitimate government of Bosnia to its 
fate, but we should do all in our power to prevent the Americans from 
coming to its aid, even at the price of a catastrophic trans-Atlantic rift 
We are left with the truly bizarre fact that while there is no political 
wiD in Britain to save the Bosnians from aggression and ethnic 
deansing, there are peat hidden reserves of political will and invective 
to prevent the Americans from doing so. 

— Brendan Simms, director of studies in history, Peterhouse, 
Cambridge, writing in The Independent (London). 


This European Disunion Is Costly 


E UROPEANS are painfully aware that their priorities are in- 
creasingly divergent. Around France, countries to the south are 
looking across the Mediterranean to the Maghreb with growing 
sense of vulnerability and fear. Countries to the north, around 
Germany, are giving priority to the enlargement of the European 
Union in East-Central Europe. 

On Bosnia, Europeans have exposed their divisions (rather than 
sending them), their lack of political will, and their failure to 
perceive the moral and symbolic cost of overcautiousness in the face 
of suffering of other Europeans. They have not been able to count on 
Americans to stop the fighting. Worse, the protracted war has 
strained and divided the Atlantic alliance. 

Europeans are ultimately the only ones responsible for other 
Europeans. Although it cannot be calculated the cost of noninter- 
vention is proving higher than that of interference. 

— Dominique Motsi and Michael Meries, 
writing in Foreign Affairs (New York). 


bly motivated by concern for the 
safety of the UN 


Who Says It 9 s Too Late to Save Bosnia? 


T HIS sickening situation is 
similar in many respects to 
the pitiful and portentous failure 
of the League of Nations, prede- 
cessor to the United Nations, and 
of major governments to deal 
with aggression, violence and 
contempt for international obli- 
gations in the 1930s. 

Those who would dismiss the 
tragedy in Bosnia as of no conse- 
quence except to the Bosnians 
should be required to study the 
earlier disgrace and ponder its 
consequences. 

Ten or 20 years from now, the 
failure in Bosnia may be recalled 
with the same despair as were the 
events of the 1930s, during and 
after World War IL The histori- 
ans of the next century may write 
that the triumph of Serbian ag- 
gression, confirmed by the with- 
drawal of NATO and UN forces 
and by the incoherence of U.S. 
policy, was a dark turning point 
They may have to write that 
Bosnia was followed by the self- 
destruction of the United Na- 
tions as an instrument for the 
prevention and punishment of 
aggression, and the return of the 
United States to irresponsible 
isolationism. They may have to 
chronicle a succession of Bosnias 
perpetrated by people ready to 
find rewards through killing , with 
violence spreading across Eastern 
Europe, the former Soviet Union, 
Africa and the Middle East — 
violence employing ever more de- 
structive weapons. 

The first step toward a resolu- 
tion in Bosnia should be to lake 
aD necessary steps for the fulfill- 
meat of the peace plan proposed 
earlier this year by the United 


of the fatalistic arguments that it 
is too late to save the victims of 
aggression in Bosnia, or that do- 
mestic political constraints in 
the United States and the other 
NATO countries are insurmount- 
able, or that the United States 
and Western Europe should not 
risk discord with Moscow, or that 
the Umted Nations is the prob- 
lem and not the solution. 

Rejecting fatalistic arguments 
requires that leaders, parliaments 
and general publics be aware of 
how their counterparts in the 
1930s behaved, and with what 
consequences. 

— Caddis Smith, director of 
the Yale Center for 
International Studies, writing 
in the Los Angeles Times. 


. — _ _ . force’s person- 

nel. But by refusing to use this 
tool they have endangered their 
personnel and the people living in 
the “safe areas.” 

The mere threat of air strikes 
was enough to stop two years of 
shelling erf Sarajevo. So the UN 
force should have recognized the 
power of the weapon at its dispos- 
al By making dear that it would 
not be used, or would be used only 
in a symbolic fashion, the fence 
threw away its own protection. 

Once Britain and France ac- 
cepted the principle that their 
troops in Bosnia were hostages to 
the Serbs, they embarked on a 
long road of appeasement 

Suggestions that Bosnia should 
give up, and that America should 

cooperate with European appease- 

ment, will not solve the problem 
or end the carnage. All they will 
do is condemn a member state of 
the United Nations to extinction, 
condemn thousands to death or 
exile, and condemn the West to 
repeat the history we thought Had 
finally ended. 


1 


s 







out, but for NATO and the UN 
force to strengthen their resolve. 
The crisis facing the UN force 
today is the result of its policy erf 
refusing to respond to Serbian 
provocations. 

' Last month, when the Serifs: --, 
started massing forces for an-at- 
tack on Bihac, General Rose did 
nothing. Two weeks before the 
Serbs pushed to the edge erf die 
"safe area,” he predicted that Bi- 
hac would fall Only when h was - 
too late to make a difference did 
the UN force act, caDing in NATO 
air strikes against an airfield and 
surface-to-air missiles but not ■; 
against the Serbs’ heavy weapons. ; 

I have heard General Rose ex- 
press contempt fra- the Bosnians. 

1 believe he felt that Bihac. do- 
served to fall because the Bosm- 

nn« had (far ed tn Iminrii an atfiwJ r 

against the Serbs from the pocket 
Obviously, the result of the SI- ’’ 
conceived Bosnian attack has been 
disastrous. But after ax months 
without the arrival of a single . 
humanitarian aid convoy, it is 
easy to. understand the despera- v 
tion felt by Bihac’s defenders. « 
Despite the UN force’s inaction, 
Bihac, Gorazde and Sarajevo are 
still “safe areas" declared by the - 
Security CoandL The UN Protec- 
tion Force and NATO still have an 
obligation to defend them. 

Instead of planning for with- 
drawal — a logistic nightmare that 
would undoubtedly result in many 
casualties and possibly set off a 
wider Balkan war — the force 
should accept the responsibility 
of calling inNATO air power in a 
timely and preventive fashion. 
There really is no other option. 

The unwillingness of General 
Rose and Yasushi Akashi, the se- 
nior civilian UN force official to 
use NATO air power was ostensi- 


The writer, an American, was li- 
aison officer at the UN Office of the 
Special Coordinator for Sarajevo 
until his resignation on Monday. He 
contributed this comment to the In- 
ternational Herald Tribune. . . 


IN OUR PAGES; 100, 75 AND 50 YEARS AGO 
1894; 'Salon dn Cjde 1 


PARIS — The exhibition of cy- 
cles, bi and tri, otherwise known 
as the Salon du Cycle, in the 
Palms de I’ Indus trie, was formal- 
ly opened yesterday {Dec. 71 

The show is, of course, highly 
interesting, and many splendid 
machines are on view. But there 
is no striking novelty, save ex- 
cept the bamboo frames, which 
reduce the weight of a substan- 
tial bicycle to about sixteen 
pounds. Decidedly bamboo has 
a great future in store if it can be 


schools of England. Eton and 
Harrow seem the chief vic tims , 
because smartness in dress, in- 
cluding the proverbial top-hat, 
signify snobbery to the “plebs” 
who are incapable of judging the 
difference between manners and 
refinement on the one hand and 
conceit and pose on the otira. 


1944; Russians Rescued 


The writer, author of “ The Fall 
of Yugoslavia, ” contributed this 
comment to Hie New York Times. 


Stales, BisiamrFiMCftGnmMy 1919: Fancy Schools 

LONDON — Great controversy 

This nv-inc • - 15 ra S“*g over the anti-snobbery 

resolute rejection campaign of the great public 


STRASBOURG, France — 
[From our New York edition:] 
The Civil Affairs office of the 

- — „„ United States 7th Army saved 

relied on for solidity, which yet starvation today [Dec. 7] 
remains to be proved. However, 1 Russian girls and boys 
none of the petroleum cycles, w hom the Germans had dragged # 

of Ukraine two years ago 
and used as slave workers in 
Germany and Alsace. The Rus- 
sians, who were discovered by a 
group of war correspondents, 
had weaved no rations for two 
weeks. Their existenbe was not 
great public known by any authorities. 


about which there has been so 
much talk, are in the exhibition. 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 

OPINION 


The Intriguing Gore Differences 

By Jim Hoagland 


g®ay high^ r , hm a^f m 
tt 5 **® 1 * w hen the vice president 
^ects the policies and 
predHectrons of his president, allow- 
ing not a sunbeam of difference to 
Separate them? 

l?** 2? 1 PH 1 question directly 
to Mr. Gore in a conversation the 
other day. He is obviously loo mod- 
est, and/or too smart, to compare 
h«nsetf to his boss in an interview 
But it hovered at the edge of our talk. 

As Mr. Gore spoke, a hypothesis 
that needs vigorous testing suggest- 
ed itself: He has developed an abili- 


By Jim Holland ' n » OtiT0 <»n{eren«'s final dcc- 

^ laration on population siabilizauon 

was the first such document that the 
inere is also a detennined minority Vatican did not dissociate itself 
that would want to eliminate these from, a result that had something to 
programs.” But that minority will do with Mr. Gore‘s conciliatory ap- 
vlr ro u contend with “an American proach. The conference also provid- 
pubhc that strongly supports a seqsi- ed new visibility for the increasing 


R.Seul 


young politician is the 

polar opposite of his boss. 

ty to take strong positions on cut- 
ting-edge issues without making 
Juraelf the center of the argument, 
in that respect, this cheerful, can-do 
youthful Southerner is the polar op- 
posite of the moody, beleaguered 
youthful Southerner he serves. 

Mr. Gore has over the years 
carved out the global environment, 
population control and the empow- 
erment of women as bis issues. This 
agenda would seem in this time of 
the “angry white male” to risk hav- 
ing its champion tarred as kooky or 
radical. Such at least is the conven- 
tional wisdom after the Nov. 8 Re- 
publican congressional victories. 

But Mr. Gore, who fashioned a 
surprising consensus with the Vati- 
can on population stabilization at 
the United. Nations Population 
Conference in Cairo in September, 
softly says that the administration is 
not going to retreat an inch on its 
population stabilization programs. 
Nor will it yield on its co mmitm ent 
to helping other countries move to- 
ward three interrelated goals: giving 
women more power over deciding 
family size and other issues, increas- 
ing child survival rates, and provid- 
ing “culturally appropriate' 1 birth 
control and contraceptive knowl- 
edge, devices and techniques. 

“What emerged from the Cairo 
conference was a more sophisticated 
intellectual agreement on the true 
nature of the challenge," Mr. Gore 
said. “The world has acknowledged 
there is a systemic problem" that 
requires simultaneous efforts in the 
Third Would “to shif t from high 
birth and death rates to low birth 
and death rates." 

1 “I know there are some Republi- 


ble and effective policy to stabilize 
population growth.” 

^ Tb e vasi majority*’ of Americans 
knows that it is unsustainable to add 
a China to the world's population 
10 years.” Mr. Gore added 
And I imagine those who voted for 
Proposition 187 in California this 
year would argue that the world can- 
not afford to add another Mexico 
every year " Proposition 187 restricts 
state aid to illegal immigrants. 

Birth control “is not seen as a 
woman’s issue,” the vice president 
asserted, rejecting the idea that the 


role that he is taking on in foreign 
affairs. While in Cairo, he held sub- 
stantive talks with President Hosni 
Mubarak of Egypt that established a 
bilateral commission similar to the 
one he established last year with 
Russian officials. 

Mr. Gore leaves Tuesday for a 
four-day visit to Moscow. He has a 
good persona! relationship with 
Prime Minister Viktor Chernomyr- 
din, with whom he speaks on the 
telephone every two weeks or so. He 
also went through a long list of pro- 
jects he is working on in Latin Ameri- 




swerve to the right by male voters on ca. South Africa and elsewhere. 

Nov. 8 represented a political repu- “I fed very good about it," he said 


Nov. 8 represented a political repu- 
diation of the gender-oriented views 
espoused by the president, Hillary 
Rodham Clinton and himself. 

Then the angry white male vote 
was not a reaction to the administra- 
tion’s commitment to the empower- 
ment of women? “I don't think it is, 
in this context," Mr. Gore replied. 
In any other context? He paused 
and spoke with even greater care: 
“I’d like to think not But I would 
want to reflect on that." it may 
contain some expression “of resent- 
ment over our efforts to remove his- 
toric discrimination." 




when I asked about his growing for- 
eign policy role. Quickly, however, 
he moved the spotlight away from 
himself: '*1 am only one of the peo- 
ple in die administration working on 
these things. The entire cabinet has 
been fantastic.” 

Such is the modes ly, or perhaps 
the cleverness, of a deft politician 
who has his gaze fixed in the dis- 
tance. Popular vice presidents 
above all obey an ancient injunc- 
tion: Never insult the future. There 
is so much of it still to come. 

The Washington Past. 






... - •i.'V.s 


•gr (f ;j 


Bw K. GENK C*W ! 


A Bangladesh Update 

Betsy Hartmann, in “ Papulation : 
Bangladesh Is No Model " ( Opinion, 
Sept. SO), made observations based 
on her experience working in Bangla- 
desh in 1975. This was at a time when 
national population policy was not 
declared and our family planning 
program with its “cafeteria" ap- 
proach of contraceptives was not in 
operation. Obviously, her under- 
standing of the program is outdated. 

Experts around the world consid- 
er the Bangladesh family planning 
program a success story and deem it 
worthy of emulation. Bangladesh 
achieved this success even though 
other socioeconomic conditions 
were not conductive to such a rapid 
fertility decline. The conventional 
wisdom that “development is the 
best contraceptive” did not apply 
here. Allow me to highlight a few 
areas of success in family p lanning 


LETTERS TO THE EDITOR 

only 7.7 percent of eii- Red Carpets Are No Cure 

were nracuemo some r 


cans who strongly agree with policies achieved in Bangladesh. 

«tia< Am n>ifh tTuu» " ft r 


that are consistent with these goals," 
Mr. Gore said, mentioning Represen- 
* tative John Porto - of Illinois and Sen- 
ator Alan Simpson of Wyoming. 


• Knowledge of family p lanning 
is universal Some 98 percent of all 
eligible couples know at least one 
method of family planning. 


• In 1975, only 7.7 percent of eli- 
gible couples were practicing some 
kind of contraception. The figure 
had increased to 45. 1 percent in 
1993-94. The average annual in- 
crease of Bangladesh for the last 
15 years is one of the highest of 
all Muslim countries. 

• The infant mortality rate was 
150 per 1,000 live births in 1975. It is 
now 88 per 1,000. Maternal mortal- 
ity is down from 7 per 1,000 in 1975 
to 5 per 1,000 today. 

The claim that there was a coer- 
cive campaign by the army in 1983 
to sterilize women in a poor tribal 
community is unfounded. 

Of course, there are many chal- 
lenges ahead for Bangladesh. The 
country has to address the popula- 
tion problem more intensively. 

But the Bangladesh family plan- 
ning program is now one of the five 
most successful programs in the 
world, as evaluated by the UN Fam- 
ily Planning Agency. 

DHIRAJ KUMAR NATH. 

Deputy Secretary. Ministry 

of Health and Family Welfare. 

Dhaka, Bangladesh. 


I have lived for 23 years in a 
privileged area — across the street 
from the Unesco building in Paris. 
I have witnessed the comings and 
goings of many “congresses" with 
their enormous attendant costs: 
installation of red carpets, plants 
(rentals), tents (rentals), air 
conditioning systems (rentals), 
beating systems (rentals) for 
these tents, 20.000- watt public ad- 
dress systems that rattle our win- 
dows (used to call the chauffeurs of 
the various dignitaries' limou- 
sines); not to mention the strict 
police surveillance by uniformed 
police and by sharpshooters on 
surrounding roofs. 

How many millions of dollars 
were spent — wasted — during the 
recent one-day summit conference 
on AIDS held at the Unesco build- 
ing? Would it not have been better 
to devote that to scientific research 
for the real and ultimate means of 
stopping this pestilence? 

BERN LE DRESNER. 

Paris. 


In Jesse Helms’s America 

Regarding “The American Left 
Lost Touch and Has Deservedly Been 
Murdered" (Opinion, Nov. 22) by Mi- 
chael Tomasky: 

The specter of Jesse Helms an- 
nouncing that if Bill Clinton visits his 
constituency “he had better bring 
bodyguards" heaped new embarrass- 
ment on the United States. What Mr. 
Helms will never tell you is that it is 
be who whipped up this frenzy of 
hatred; it is Jesse Helms and friends, 
not the Democrats, who are responsi- 
ble for the current crias. in which 
even shy steps by BDl Clinton to end 
the war on America's poor, and to 
revive the idea of reasonable govern- 
ment in the public interest have 
brought a great blast of beat from the 
Hate Zone: Mr. Tomasky’s self-flag- 
ellation about the state of postmoder- 
nism at the university and its alleged 
connection to the electoral scene re- 
veals lhaL he has no clue of what the 
real stakes are. They are high, and the 
next two years look very bleak. 

CLAUDE CAHN. 

Budapest 


Page 71 


The Lobby’s Goah To Get * 
Women to Love the Gun 


By Bob Herbert 


N ew YORK — - The circum- 
stances that led up to the 
shooting are not clear. One version 
of the story, according to the police 
in Jackson, Mississippi, is that late 
Saturday night 3-year-old Jona- 
than Hicks, who loved to look at 

MEANWHILE 

the lights on the family's Christmas 
tree, was mistaken by his stepmoth- 
er for a burglar. 

The stepmother, whose identity is 
being withheld, reached for a .380 
semiautomatic handgun, went into 
the living room and fired at the first 
.sign of movement. The boy was shot 
in the head and died. 

Police are still investigating and 
have not ruled out other, more sinis- 
ter versions. What is not in dispute is 
that the presence of a handgun in 
the stepmother’s home, legally or 
illegally, and for whatever reasons, 
heightened the chances that some- 
thing terrible would happen. 

Tremendous sums of money have 
been made from the manufacture 
and sale of guns in the United 
States. But with so many men al- 
ready armed, new markets must be 
found The following quotation is 
taken from an “Editor's Note" in 
“S.H.O.T. Business," a trade journal 
for the firearms industry: 

“An important mission of this 
magazine is to show our readers bow 
they can expand their customer base, 
especially to women and children." 

Most of us see homicide as a huge 
problem, but the blood is not flow- 
ing fast enough to suit the firearms 
industry. It is going after women. 

Last week the Violence Policy 
Centex, a research foundation in 
Washington, released a report titled 
“Female Persuasion — a Study of 
How the Firearms Industry Markets 
to Women and the Reality of Wom- 
en and Guns.” The report explained 
how the leading trade association of 
the firearms industry, the National 
Shooting Sports Foundation, creat- 
ed a series of shooting competitions 
called the Ladies Charity Classic 
Events as a way of introducing 
women to guns. 

The competitions are now run by 
an offshoot of the national founda- 
tion called the Women's Shooting 
Sports Foundation. The report 
said: “By utilizing mainstream 
charities as beneficiaries, the 
WSSF entices non-gun-owning 
women to participate in the Ladies 
Charity Classic Events . . . Chari- 
ties range in size and scope from 
the 1988 Classic, which benefited a 


Houston shelter for abused women 
and children, to 1994’s benefit for 
the Houston chapter of the Susan 
G. Komen Foundation for breast 
cancer research and treatment. 

“As the National Shooting Sports 
Foundation noted in 1992, ‘Each 
[WSSF] regional event will include a 
shooting dime prior to the tourna- 
ment and an association with a char- 
itable cause; both recognized as key 
factors in motivating women who 
are not shooters to participate.’ ” 

It is just about impossible to over- 
state the insidiousness of seeking 
out women concerned with issues 
like domestic violence and breast 
cancer for the stile purpose of put- 
ting guns into their hands. But noth- 
ing is beneath the gun merchants. 

What fir earms mark eters never 

point out — to men or to women — 
is the extent to which the ready 
access to guns leads not to self- 
protection but to the destruction of 
gun owners and their loved ones. 

An analysis of gun deaths in the 
home that was published in The 
New England Journal of Medicine 
in 1986 found that more than 80 
percent of the homicides occurred 
during arguments or altercations. In 
those kinds of situations, individ- 
uals often reach “for the most lethal 
weapon readily available.” 

Guns are particularly dangerous 
— and particularly dangerous to 
women — in households that are 
prone to domestic violence. That is 
another taboo topic for firearms 
marketers. So is suicide. Most gun 
deaths in America are the result of 
suicide, not homicide. 

Men and women are being sold a 
fraudulent myth by the gun mer- 
chants. The route to personal safety is 
not more and more firepower in the 
hands of more and more Americans. 

The Violence Policy Center noted 
that “research over several decades 
has consistently shown that a gun in 
the home is far more Hkely to be 
used in suicide, murder or fatal acci- 
dent than to kill a criminal.” 

That fact holds no interest for gun 
merchants, who, like cigarette man- 
ufacturers, make a wonderful living 
from the sweet smell of death. 

The New York Times. 


Letters intended for publication, 
should be addressed “ Letters to the 
Editor “ and contain the writer’s si- 
gnature, name and fuD address. Let- 
ters should be brief and are subject 
to editing,. We cannot be responsible 
for the return of unsolicited ma- 
nuscripts. 


BOOKS 


NOBODY’S FOOL: 

‘The Lives of Danny Kaje 

By Martin Gottfried. 352 pages. 
$24. Simon A Schuster. 

Reviewed by 
Susan Davidson 


WHAT THEY'RE READING 


• John Woodridge, an archi- 
tect and urban planner who was 
executive director of Washing- 
Urn’s Pennsylvania Avenue re- 
development, is reading "Hard 
to Be Good," short stories by 
BlD Barich. 

“He is a typical Californian 
in that he’s much more literate 
than he lets on.” (IHT) 



published in Britain a decade 
ago) has appeared before Mar- 
tin Gottfried’s “Nobody’s 
Fool: The Lives of Danny 
Kaye.” The reason may lie in a 
news dip Gottfried quotes — 
Kaye and his wife, Sylvia Fine, 
wanted their only child, the 
writer Deaa Kaye, that “if she 
ever writes about them she'll be 
disinherited.'' Dena so far has 
nfiamtnineri her silence — in 
print, anyway — and presum- 
ably her inheritance; Danny 
Kaye died in 2987 and Sylvia 
Fine Kaye, four years later. 

Why the penchant for priva- 
cy? Gottfried, former drama 
critic for the New York Post and 
Women’s Wear Daily and the 
author of several show biz biog- 
raphies (Stephen Sondheim, Jed 
Harris, Bob Fosse), sets the stage 
by peeling away Danny Kaye s 
mask of comedy to reveal a com- 
plex, possibly manic-depressive, 


possibly bisexual man who had 
many affairs and spent years in. 
analysis. 

Danny Kaye, ne David Dan- 
iel Kaminski, was born in 
Brooklyn in 1913, the third son 
of a saddlebag and corset mak- 
er, Jacob Kaminski, and his 
wife, Clara, poor Jewish immi- 
grants from Ukraine who spoke 
only Yiddish. “Mach vie (make 
like) Shirley Temple," demand- 
ed Clara. She died when Danny 
was 13, but by that time his 
vocation was apparent The 
class down had made his stage 
debut as a watermelon seed 
while still in kindergarten. 

In a more affluent part of 
Brooklyn, Sylvia Fine, a den- 
tist’s daughter, was racking up 
high market, writing humOT for 
the school newspaper and dots 


BRIDGE 

By Alan Truscott king b« 


■vt EWSPAPER columns col- 
IN lected in book form tend to 
be-dull reading, but there are, 
exceptions. One of them is “Get 
Smarter at Bridge” by Phflhp 
Alder. Some of his deals show 
the author's addiction to P-_G- 
Woodhouse and the . television 
show “ Get Smart.” 

The book can be ordered by 
writing to him al P.O. Box 169, 
Roslyn Heights, LJ. 1 I5^-' 
0169, and the cost is $14.95 in- 
cluding mafling. 

On the diagramed deal Alder 
challenged the reader to a>unt 
the number of malapropwms. 
Start counting as y°“ read the 
text: 

“The stakes were expansive, 
very extensive. North had just 
bid and made seven no-trump. 

This was the secant deal. 

“West had a normal pre-emi- 
nent opening of five clubs. 
North bid six dubs to show a 
Suoganoff two-smler, but not 
necessarily that shapely and sa- 
rong. The rest of the bidding 
contained three ill-advertised 

d °“I>3arer thumped the club- 
ace lead in hand He dashed one 
JSJnd of trumps with dummy s 


king before twitching his atten- 
tions to hearts. When West ab- 
sconded on the first round and 
couldn’t bluff, it was an easy 
job for South to snuff out East’s 
heart queen. Declarer retrained 
to dummy with a diamond ruff, 
drew East's two trumps and 
creamed 

“North-South « corrected so 
much money they were sudden- 
ly effluent” 

NORTH 
♦ K Q J 10 9 7 
S? A K J985 
0 — 

*2 


for the varsity show. When she 
was 11 and he was 12, Sylvia 
met Danny in her father’s of- 
fice, where Danny was working 
after school The encounter was 
brief, since Danny was fired for 
using one of the dentist's drills 
to chisel a piece of wood 
Sylvia went to college (Hunter 
and Brooklyn). Danny had little 
formal education and no train- 
ing in voice, music or drama. 
Instead he worked his way up 
from the Catskills to touring in 
vaudeville; a long way from the 
top of the ball, from dives in the 
sticks to nightclubs in New York 
and London, from Broadway 
(where be upstaged Gertrude 
Lawrence) to the London Palla- 
dium (where the reviews were 
raves and Kaye became the dar- 
ling of royalty, onstage and off). 
Movies and television followed 
In describing the early days of 
Kaye’s career, when entertain- 
ment was quaint compared with 
today’s b<ktom-line-<lriven in- 
dustry, Gottfried, though never 
a stylist, is at his best. Fans wiD 
be amused to leam how some of 
the shriek Kaye used afflin and 
again got started 
Then there are the stories 
about Kaye the fanatic, always 
pushing to excel A fascination 


with medicine — Kaye had 
wanted to be a doctor, but his 
family could not afford such an 
education — led him to watch 
surgeons at work. The love of 
baseball turned into part owner- 
ship of the Seattle Mariners. 

while on a plane that nearly 
crashed, Kaye vowed that if he 
survived the flight he would get a 
plot’s license, and he did He 
also received a request from a 

become^UnicePs goodwRparo- 
bassador. Enter Danny Kaye the 
globe-trotting humanitarian. 

Gottfried writes that Sylvia, 
whom Danny met again in 1939 
and married m 1940, was “a Fine 
head on Danny’s shoulders,” a 
position Danny both respected 
and resented She wrote more 
than 100 songs (both music and 
lyrics) for him, beginning with a 
Yiddish verson of “The Mika- 
do,” directed his career, man- 
aged their finances and took a 
back seat to no one. Their pro- 
fessional partnership was strong 
and symbiotic, but the same can- 
not be said for their marriage. 
They lived in separate wings of 
their Beverly Huls house at on 
opposite coasts. 

The author asserts that Syl- 
via's independent career ended 
in the early ’40s. Not true. She 
was a brilliant wit who put 
words in her actor-husband’s 
mouth for 40 years; wrote, pro- 
duced and performed in the 
1979 Peabody Award-winning 
television series “Musical Com- 
edy Tonight” (on file, by the 
way, at the Library of Con- 
. ress); and taught at Yale. 

Kaye fans will have some il- 
lusions shattered by “Nobody’s 
Fool,” but it sure is fun. 

Susan Davidson, arts editor o) 
Washingtonian magazine, wrote 
this for The Washington Post. 


intekmiioisai. 


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Page 8 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 




HEALTH /SCIENCE 


Hubble Fills In Creation Details 


By Kathy Sawyer 

Washington Post Service 


W ashington — After dec- 
ades of trying, astronomers 
have unveiled for the first 
rim e the color and shape of 
galaxies formed when the universe was 
as little as one-tenth its present age. 

The new images from the Hubble 
Space Telescope, released at NASA's 
Goddard Space Flight Center, bolstered 
a fundamental tenet of the leading the- 
ory of creation, known as the Big Bang, 
but also instantly created another zone 
of controversy at the theory's heart. 

By tr ainin g the telescope on some of 
the most distant galaxies known, the 
Three teams used the Hubble to dig back 
through time and space, in the same way 
archaeologists dig through ever deeper 
layers of rock to find fossils. Astrono- 
mers have always used telescopes in this 
way — as time machines to capture light 
emitted millions or billions of years ago. 
Such observations provide an image of 
the past, like fossils encoded in starlight 
But until now, glimmerings from the 
infant universe remained beyond range. 
Many of the galaxies in the new im- 


with shards and shreds of unidentified 
light sources in configurations unknown 
in the present-day universe, some of 
them possible ancestors of spiral galaxies 
like the Earth’s galaxy, the Milky Way. 

“The evidence is very chaotic,” and 
“marvelously complex,” said Bruce Mar- 
gon, an astronomy professor and chair- 
man of the department at the University 
of Washington in Seattle. He called the 
new findings “impressive and depress- 
ing,” since there is no single theme, but 
rather "a mishmash.” 

The Big Bang holds that the universe is 
not in a static, unchanging “steady 
state,” but has been expanding ana 
changing since the initial moment of ex- 
plosive creation. Since the theory be- 
came popular in the 1950s, astronomers 
have sought a glimpse of a time when the 
universe looked different But objects in 
the epoch of the first galaxy formation 
are at such distances that the largest 
ground-based telescopes see even the 
most brilliant objects among them (qua- 
sars, or quasi-stellar objects, believed to 
be the violently active cores of young 
galaxies) as no more than fuzzbaUs of 
light, lacking all detail. 


Many of the galaxies m the new im- Kf 
ages appear to be surprisingly old, popu- HkH 
lated with stars glowing a dull red — a IH 
sign of stellar old age — even though H ™ 


sign of stellar old age — even though 
they inhabit the universe that existed 
within a mere 2 billion years after the Big 
Bang. (The a ging sun eventually will dim 
and glow red — but not for another five 
or six billion years.) 

The paradox, as the scientists de- 


scribed it, is to find “grown-up galaxies 
in an infant universe.” 


Some of the images released Tuesday 
resemble a dipper of cosmic pond water. 


N OW the Hubble, positioned 
above the Earth’s atmosphere 
and using precision optics For 

to 18 horns, h^defiizz^^efagzballs, 
revealing details of structure and nature. 
It is like “seeing noses and eyebrows on 
previously blank faces," said team leader 
Alan Dressier of the Carnegie institution 
of Washington. 

“We have very likely identified the 
long-sought population of primeval gal- 
axies,” said Ducchio Macchctto of the 
European Space Agency and the Space 


Telescope Science Institute in Baltimore, 
another team leader. Dr. Macchetto and 
a colleague, Mauro Giavalisco, identi- 
fied a duster of 16 primeval galaxies in 
the constellation Sculptor. 

“The very presence of the cluster 
shows that these large structures already 
existed 2 billion years after the Big Bang. 
This is unexpected and counter to many 
theories of duster and galaxy forma- 
tion,” Dr. Machetto said. Because it 
takes a billion years to form the type of 
galaxies they found — egg-shaped galax- 
ies known as ellipticals — they must have 
begun to take shape as little as a billion 
years after the Big Bang. (For purposes 
of the discussion, the teams selected an 
arbitrary age for the universe of 14 bil- 
lion years.) 

A team led by Mark Didrinson, also of 
the Space Telescope Science Institute, 
found a similar scene when it studied a 
duster of closer galaxies as they existed 
when the universe had matured to nearly 
one-third its current age: more galaxies 
tha t appeared to contain populations of 
older stars. 

■ “This has immediate cosmological im- 
plications, since the universe must have 
been old enough to accommodate them," 
Dr. Dickinson said. Theories bolding 
tha t the universe is expanding very rap- 
idly and is therefore at the young, end of 
the theoretical range “leave little time for 
these galaxies to form and evolve” to the 
stage of maturity seen in the images. 

Dr. Dickinson took one of the Hub- 
ble’s longest exposures ever, revealing 
what he called “a bewildering range of 
galaxy shapes. The Hubble image is like 
looking at a drop of pond water under a 
microscope, where we see a menagerie of 
strange creatures.” 


Prostate Cancer: Too Few Studies 


By Jane E. Brody 

New York Tunes Service 


EW YORK. — Despite com- 
plaints that women’s health is- 
sues have been relatively neglect- 
ed by medical researchers, when 
it comes to cancer of the prostate, the 
opposite argument can easily be made. 

Breast cancer, the woman's disease that 
comes closest to it in incidence, death rates 
and age of onset, has been the subject of 
many well-designed clinical trials that 
have res ul ted in improved survival chances 
and a reduced need for mastectomy. 

No such attention has been paid to pros- 
tate cancer, which will eventually stnke 1 
man in 11. This is a disease with a rapidly 
rising incidence, mainly as a result of ad- 
vances in early detection, which are them- 
selves controversial. 

The death rate from prostate cancer has 
been steadily increasing, but there have 


remain up to patients to an extern that is 
found with few other conditions. 

The patients must take into consider- 
ation complex issues like the extent and 
aggressiveness of the tumor, their current 
health status and Hfe expectancy, the im- 
portance of full sexual functioning, the 
willingness to have frequent checkups and 
living with the knowledge that the body 
harbors a cancer. 

Since the mid-1980s there has been an 
increase exceeding 600 percent in new 
cases of prostate cancer, largely because of 
the ever-growing use of a simple blood test 
called PSA. which measures an enzyme 


until and unless the tumor enlarges to a 
point where treatment becomes clearly ad- 
visable to stem its growth. 

But while a tiny prostate cancer may be 
completely curable with radical surgery or 


radiation therapy, if treatment is delayed, 
the cancer could spread beyond the point 
of cure between periodic checkups. 

On the other hand, if the man chooses 
radical surgery — prostatectomy — which 
is thought to produce the highest cure rate 
when the cancer is still confined to the 
gland, he risks permanent impotence, 
stress incontinence and, lo a much smaller 
degree, complete incontinence. 


produced by the prostate gland When 
cancer is present, the PSA level rises. The 


cancer is present, the PSA level rises. The 
larger the tumor and the more aggressive 
its growth, the higher the PSA level gets 
and the faster it rises. 

But the PSA level does not rise only with 
potentially lethal cancers. It can also indi- 


A N alternative to surgery is seven 
weeks of radiation therapy five 
days a week, which also carries a 
risk, though smaller than with 
surgery, of causing lasting impotence and 
incontinence. In addition, radiation is con- 
sidered less effective than surgery in 
achieving a permanent cure. 

Finally, there is hormonal therapy, 
which involves removing the stimulating 
effects of testosterone on the prostate 
gland This can be achieved by surgically 
removing the testicles or by shutting down 
testicular function chemically. 

The hormonal approach buys time but 
does not cure the cancer. It is usually 
reserved for men whose tumors have 
spread and for those who, for health or 
other reasons, are unsuitable candidates 
for surgery or radiation. 


been only modest improvements in treat- 
ments. which still leave a substantial por- 


cate the presence of very small, slow-grow- 
ing tumors that are unlikely to threaten a 
man’s health during his remaining years of 
life. 

Autopsy studies indicate that 40 percent 
of men over 50 unknowingly harbor tiny 
cancers in their prostates. Only one in five 
of these cancers will grow into a life-threat- 
ening cancer, but there is no certain way to 
know which will and which will not. 

So when such a tumor is found during a 
man’s life, be faces the distressing question 
of what, if anything, to do about it. 

The choices include doing nothing at all : 
“watchful waiting," as urologists put it. 


ments. which still leave a substantial por- 
tion of men with the devastating complica- 
tions of impotence and incontinence. 

This year, 38,000 American men will die 
of prostate cancer, which is especially le- 
thal to black men in the United Slates. 
Another 200,000 men will face treatment 
decisions that cannot be based on defini- 
tive clinical trials because such trials, only 
recently begun, will not produce conclu- 
sive findings for a decade or more. 

Treatment decisions — about whether 
to be treated at all and, if so, how — 


Genetic Clues to Suntan and Cancer 


New York Times Service 


EW YORK — Re- 
searchers have partly 
solved the mystery of 
what causes a suntan, 
and it is not a pretty picture. 

Tanning happens when the 
body tries to excise and dispose 
of damaged genetic material, 
scientists reported. In the pro- 
cess. they said, the skin erects a 


protective barrier that tries to 
stop sunlight from further de- 
stroying cellular DNA. 

On a more positive note, the 
researchers said it might be pos- 
sible to harness the process and 
to develop a lotion that would 
promote a tan without genetic 
damage — and without dyes 
that make skin look more or- 
ange than tan. 



Possible new tanning lotions 
aside, the discovery is impor- 
tant because it provides insights 
on how human skin responds to 
damag in g s unlight 

An estimated 700,000 Ameri- 
cans develop skin cancer each 
year, largely as a result of expo- 
sure to ultraviolet light, accord- 
ing to the American Cancer So- 
ciety; 32,000 develop malignant 
melanoma, a lethal form of skin 
cancer that is being diagnosed 
more frequently ah over the 
world. 


new research unlocks an impor- 
tant piece of the puzzle, she 
said. 

The first step is that sunlight 
penetrates the upper layers of 
skin. Dr. Gilchrest said. Ultra- 
violet radiation, which is highly 
energetic, bombards the basic 
units of DNA inside skin cell 
nuclei, causing many of them to 
fuse into nonfunctional frag- 
ments. The process of repairing 
such errors can go awry and 
lead to cancer, she said. 


The incidence of melanoma 
has doubled in the United 
States within the last 20 years, 
according to the National Can- 
cer Institute. Among while 
Americans, the probability of 
developing melanoma is 1 in 88, 
according to the most recent 
cancer surveillance statistics 
compiled by the institute. 

The new finding about the 
process of tanning is described 
m Nature magazine by Dr. Bar- 
bara A. Gilchrest, professor 
and chairwoman of dermatolo- 
gy at Boston University School 
of Medicine, and her col- 
leagues. 


Once this damage occurs, the 
cell nucleus releases repair en- 
zymes that snip out the dam- 


zymes that snip out the dam- 
aged DNA fragments. Dr. 
Gilchrest said. The enzymes 


then help generate new DNA to 
replace the damaged fragments. 
Thel 


The tanning response is initi- 
ated by this cutting process. Dr. 
Gilchrest said. The fragments 
and enzymes somehow stimu- 
late pigment cells, found in up- 


per layers of the skin, to pro- 
duce melanin, a black 


It has long been known that 
tanning is the body's major ef- 
fort at protection against sun 
damage, IX. Gilchrest said. But 
Lhe process itself in some people 
can lead to cancer. 

Part of the key to the paradox 
lies in the steps leading from 
sun exposure to suntan, which 
were not known until now. The 


duce melanin, a black 
substance that absorbs ultravio- 
let light. 

Melanin is distributed 
throughout the upper skin layer 
in caps like little umbrellas, she 
said. Its role is to protect the 
DNA in lower layers of skin 
cells. 

The signal by which sunlight 
stimulates melanin to pour out 
of pigment cells is unknown. 
Dr. Gilchrest said. But the 
DNA repair enzymes greatly 
speed up the process. 


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PROCESSING A PERCEPTION 
The perception of a trigger stimulus, like the face of a 
loved one, in the visual cortex and the association 
cortexes causes paraHei signals to go to limbic system 
structures like the amygdala and to prefrontal cortexes. 
The prefrontal cortexes send signals to the amygdala, and 
amygdala signals- the hypothalamus and brain stem. 


PROCESSING THE REACTION 
Signals from the hypothalamus and brain stem generate 
an emotional body state, which is then signaled to several 
somatosensory cortexes. But the neuratransmitternuctei 
in the brain stem also signal many are as of th e cerebral ; -.. _ 
cortex and subcortical regions with neurotransmfttera. 


Sours: Dr. AafonjO Drnnasta/l&mersfy ct Iowa 


alterations in-how the system hanefles Information, 


Olden Cojxtand/The Nor Yett Tim 


The Physical Roots of Emotion 


By Sandra Blakeslee 

New York Times Service 


EW YORK — Imagine walking 
along a jungle path in the twilight 
and hearing, a lion roar. Your 
riem turns clammy , a knot forms 
in your stomach and you can taste the fear 
rising in your throat. 

Now imagine walking along a zoo path 
at the same time of the ev ening and hear- 
ing the same sound. This time yon do not 
feel afraid. 

The reason, scientists say. has to do with 
how emotions and feelings are processed 
in the brain. External sensations (the roar} 
and memories (lions are locked up in the 
zoo) interact along complex circuits to 
generate our emotional reactions — in this 
case, to not be afraid. 

Those neural circuits — networks of 
cells that crisscross the brain and send 
projections throughout the body — are 
now being delineated in unprecedented 
detail by a handful of neuroscientists who 
say the biological nature of emotions and 
feelings can at last be described. 

Until recently, brain researchers focused 
most of their attention on the biological 
basis of cognitive processes such as percep- 
tion and memory, said Dr. John Allman, a 
professor of neurobiology at the California 
Institute of Technology. They tended to 
ignore emotion, he said, in the belief that 
emotions and rational thought are separate 
activities and that emotions are just too 
difficult to understand biologically. 

This attitude is now changing. Dr. All- 
man said, as researchers have come to 
realize that emotional brain circuits are 
just as tangible as circuits for seeing, hear- 


• The body, as represented in the brain, 
is the fr ame of reference for what humans 
experience as mind. Our thoughts and ac- 
tions — our sense of subjectivity — uses 
the body as a yardstick. 

• Emotions are an integral part of the 
ability to reason. While too much emotion 
can impair reasoning, a lade of emotion 
can be equally harmf ul. 

• Gut feelings and intuition are in dis- 
pensable tools for rational decision- mak- 
ing; without them hmnans would have 
great difficulty thinking about the future. 

Much of the new information about the 
neural c ir c ui ts underlying emotion stems 
from experiments on animals Dr. Joseph 


their fear but remained afraid much long- 
er, indicating thai the frontal region helps 
control emotional memories forged in the 
amygdala and may prevent. responses that 


are no longer useful 
This finding explains why a person who 

hears a lion’s roar in a zoo is not afraid. Dr, 

LeDoux explained. Input from the frontal 
area of the brain helps override the. fear. 
Bat problems with this circuit may under- 


lie phobias, he said. Some people respond 
with fear to a stimulus such as a lion's roar. 


Eke fear and the circuits that support i 
expression were highly conserved throuj 


evolution. 

Understanding fear mechanisms in ani- 
mals, he said, sheds tigh t on h uman fears 
and may help researchers study other emo- 
tions. The work is important because many 
psychiatric disorders, including anxiety, 
phobias, post-traumatic stress syndrome 
and panic attacks involve malfunctions in 
the brain’s ability to control fear, he said. 

Much of the research is centered on the 
amygdala, a tiny structure deep in the 
bran that is crucial for the formation of 
memories about significant emotional cx- 


with fear to a stimulus such, as a Eon's roar, 
even though they know there is no dagger. 
“You can teE phobics all day long. This 
will not hurt yon,’ *! Dr. LeDoux said, ^jut 
they don’t believe it” 

While animal experiments have helped 
scientists trace exact pathways far fear, the 
question of how emotions such as jby, 
sadness, anger or shame are wired in the 
human brain is more difficult to answer. 
Psychologists and philosophers have long 
examined emotions and their impact bn 
behavior, but they have done so by observ- 
ing what people do and say. Few hayc 
ventured into the so-called “black box” of 
the brain. 


pcriences. Damage a rat's amygdala and it 
“forgets” to be afraid. 


ing and touching. 

In this view, emotions and feelings are 
not, as poets and philosophers say, ephem- 
eral reflections of the human soul. Rather, 
emotions are largely the brain’s interpreta- 
tion of our visceral reaction to the world at 
large. 

Pioneering experiments on emotions 
have turned up some interesting concepts: 

• Emotional memories involving fear 
are permanently ingrained into the brain; 
they can be suppressed but never erased. 


Totgets” to be afraid. 

To trace the cell networks involved in 
fear. Dr. LeDoux and his colleagues first 
conditioned rats by pairing a loud noise 
with a mild electric shock to their feet 
The rats soon showed fear when they 
heard the noise without the shock. The 
researchers presume fear conditioning oc- 
curs because the shock modifies the way in 
which neurons in several brain regions 
interpret the sound of the stimulus. 

In time, however, the rats gradually lose 
their fear of the sound. Some part of the 
rat's brain outride the amygdala seems to 
control the fear response, Dr. LeDoux 
said. But it does not eliminate it. 

In further experiments, in which re- 
searchers damaged a small region of the rat 
forebrain, the rats not only did not lose 


UT advanced imaging tech- 
niques that can- look- inside tqe 
brains of subjects while they talk 
about feelings and experiences 
axe beginning to lead to a neurobiology of 
emotions. People with brain damage are 
particularly revealing in this regard. Whed 
specific parts of the brain are damaged,! 
patients may lose the ability to feel emo -1 
tions, sometimes with disastrous conse-l 
quences. 1 

Pioneering work in this area is under j 
way at the University of Iowa Medical | 
School where Dr. Antonio Damasio leads 1 
a team that is probing the brains of stroke 
and accident victims whose personalities 
have been affected by their injury. 

Dr. Damask? described his ideas in a 
bode called “Descartes’ Error.” The phi- 
losopher Rent Descartes held that moral- 
ity, reason, language and spirit were held 
in the lofty brain whereas biology, emo- 
tions and animal instincts reside in the 
body. Dr. Damasio said. The new neurobi- 
ology of emotions seeks to overturn this 
false dichotomy. 



0 


Breakthrough Math Technique 


W ASHINGTON — Two physi- 
cists have devised a revolution- 
ary mathematical technique 
that makes many problems in 
foor-dimenrional space far easier to calcu- 
late and may ultimately help explain one 
of the most vexing questions in physical 
science: How tire elusive subatomic parti- 
cles called quarks combine to form pro- 
tons, neutrons and other components of 
solid matter. 

Edward Witten of the Institute for Ad- 
vanced Studies in Princeton, New Jersey, 
and Nathan Seiberg, a Rutgers professor, 
recently found a way — called “supersym- 
metry — to convert four-dimensional 
equations so complex that they could be 
solved only partially on supercomputers 
into a two-dimensional form that can be 
calculated with pencil and paper. 

“It’s a real breakthrough,” said Rutgers 
physicist Stephen Shenker. “A year and a 
half ago I would never have dreamed that 
results of this power could be obtained.” 

Mathematician Sylvain Cappdl of the 
Courant Institute of Mathematics at New 
York University, who is visiting at the 
institute this semester, said that “it radical- 
ly amplifies our understanding of four- 
dimensional geometry and makes it possi- 


By Curt Suplee 

Washington Post Service 


ble for us to attack whole new problems in 
it.” 

Solving equations that involve four di- 
mensions — such as three spatial dimen- 
sions plus time, winch happens to be the 
way our physical universe is constructed — 
is remarkably difficult “You can think of 
dimensions as corresponding to numbers 
of variables in a problem,” Dr. Cappdl 
said. “Two variables make a graph. Three 
make a three-dimensional shape.” Howev- 
er, “almost all real problems in real life 
involve many variables.” Low numbers of 
di m e n sions have the advantage of simplic- 
ity: Results can be easily visualized. High 
numbers allow for constructing complex 
relationships. But four. Dr. Cappell said, 
“is too high to able to see every thing and 
too low to be able to carry out big con- 
structions. It falls in between." 


I T also ptoses difficulties for certain 
kinds of calculations — especially 
those in which the order of operations 
is important When adding 4 and 5, 
for example, it doesn’t matter wether it is 
done as 4+5 car 5+4; such results are said 
to be commutative. But when the math 
involves, say, rotating a multidimensional 
object in various ways over time, the order 
of events can be critical. Procedure A fol- 
lowed by procedure B may not produce the 
same result as B followed by A. 


As Dr. Seiberg noted, “Our world is 
four-dimensional- Time is the fourth di- 
mension. [Subatomic particles] can move 
around and the motion is some thing th«i 
takes place in time.” 

In particular, such equations are neces- 
sary to describe a key element of the so- 
called standard model of particle physics. 
That theory assumes that heavy nuclear 
particles such as protons and neutrons are 
made up of various combinations of 
quarks — elementary particles that come 
m six types and three “colors ” The mathe- 
matical rules whereby the different kinds 
of quarks are thought to combine, as well 

the ways in which they are affected by 
the particles whimsically named gluons 
that carry the strong force (one of the four 
fundamental forces of nature, along with 
gravity, electromagnetism and the “weak” 
force involved in radioactive decay), have 
been formulated for decades. yh 


i l 


tea 




^ equations describing 
T vmualJ y impossible^ 

n , S*? P ^ ° 0t 0nIy does fwcc 

between quarks increase as the distance 
increases, but the gluons 

a&ftaswsAs 


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INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


Page 9 




Transitions / Soul-Searching 


Along With Growth, 
A Shifting Identity 



Partnerships / Forging Alliances 


The questions that face 
Europe are not only diffi- 
cult to resolve, but also 
awkward to define. This is 
because the definition de- 
pends largely on how Eu- 
rope sees itself. 

Should Europe dig deeper 
before it spreads wider? 
Should it do the opposite, or 
both at the same time? Is Eu- 
rope above all a market, or 
does it have a soul? 

The entity now known as 
the European Union began 
with a vision; since then it 
has often functioned like a 
bad-tempered working party. 
“Its whole history has been 
made up of a succession of 
crises followed by bursts of 
progress. 1 ' commented for- 
mer French President Valery 
Giscard d'Estaing at a recent 
meeting on the Ecu orga- 
nized by France's financial 
futures exchange. 

Just a state of mind? 
Starting from its treaty origins 
in the mid-1950s, the EU has 
developed a set of institu- 
tions that in many ways re- 
sembles the trappings of a 
sovereign state. These in- 
clude a directly elected par- 
liament and a court of justice, 
not to mention a star-sparl- 
gled flag, a hopeful anthem 
and a standardized passport 
Thanks to EU directives, 
money, goods, services and 
workers are free to move 
around the EU. 

Yet if a reporter were to 
travel around the EU asking 
people in what entity they 
lived, it is unlikely that many 
would answer "Europe." 


Moreover, only a small per- 
centage of EU citizens opt to 
live permanently in another 
member state. 

Some Europeans do not 
even think of themselves pri- 
marily as citizens of the na- 
tion state they inhabit. When 
Barcelona was advertising its 
Olympic games a few years 
ago, the city fathers must 
have puzzled the wider world 
by informing it that Barcelona 
was the capital of a country 
called Catalonia. 

The rise of regions 
Yearnings for regional auton- 
omy may make it harder for 
the governments concerned 
to meet the convergence re- 
quirements of the Maastricht 
treaty. Yet. paradoxically, a 
federal Europe could also 
boost the power of regions in 
relation to national govern- 
ments. Jordi Pujol's “Gener- 
alitat" in Catalonia is not the 
only regional authority eager 
for direct funding from Brus- 
sels and more scope in 
which to weave cross-border 
networks. 

As the EU grapples with in- 
ternal doubts and inconsis- 
tencies, it is also under pres- 
sure from two main external 
forces. One of these is the 
need to compete in world 
markets, which will become 
freer and more demanding 
as a result of the latest GATT 
round and the creation of the 
World Trade Organization. 

The other is the defense 
headache posed by turbu- 
lence in Eastern Europe and 
war in Ihe former Yugoslavia. 
The growing reluctance of 






The Underlying Ties 
That Bind the Union 





'.Vi 


■V - <: - ■■ V ■ R 





V:.' -f S. U*'* 






\ V 



' *!".■ 


' . '4 Z * 


What's in the stars? Like most evolving entities. theEUis still in the process of defining itself. 


the United States to continue 
shouldering the mqjor part of 
this responsibility adds fur- 
ther urgency to the EU’s 
moves to establish a work- 
able common security policy. 

Beyond economic issues 
The strategic issues that 
now face Europe's leaders 
are much vaster than the 


deals on economic coopera- 
tion that they were able to 
play around with between the 
end of the Second World 
War and the collapse of the 
Berlin Wall.' 1 argues 
Jonathan Story, professor of 
international economics at 
INSEAD, the French busi- 
ness institute. “If these are to 
be addressed, EU member 


states can no longer afford to 
indulge in their little backyard 
squabbles.” 

Economic and military 
pressures may both bring 
Europeans closer together, 
but each of these suggests a 
different sort of Europe. The 
first will tend to break down 
internal frontiers in the 
search for strategic business 


advantages and economies 
of scale. The second empha- 
sizes national military capa- 
bilities and the older relation- 
ships between big nations 
and small ones. Is Europe 
capable of simultaneously 
waving its flag to discourage 
conflict while beating the 
drum for trade? 

Michael Rowe 


France and Germany - 
each for its own reasons - 
have long been the main 
partners In the scheme to 
bring about economic and 
monetary union in Europe. 
But as the date to consum- 
mate this union approach- 
es, France is casting a 
wayward eye on Britain. 

“The French have no wish 
to find themselves in a per- 
manent iete-d-tete with the 
Germans, and we would very 
much like Britain to join us 
wholeheartedly in the move- 
ment toward European 
Union," comments Jean- 
Daniel Tordjman, France's 
ambassador at large and 
head of the Invest in France 
bureau. “The German al- 
liance is important, but a 
counterweight to German 
economic strength would 
also be valuable." 

Historically, Britain has 
been wary of European en- 
tanglements, and it still 
seems to see the Continent 
essentially as an interesting 
foreign market French deci- 
sion-makers, on the other 
hand, quickly latched onto 
the European idea as an ex- 
tension of French domestic 
policy. Germany - economi- 
cally dominant, but psycho- 
logically reluctant to exercise 
its full political clout for sever- 
al decades after World War II 
- found the French alliance 
useful. 

A change in dynamics 
Now there is a new situation. 
The collapse of the 
East/West divide has 
brought about a unified Ger- 


man nation of more than 80 
million people, together with 
a rash of new candidates for 
EU membership. As a result, 
the Union's boundaries are 
already expanding north- 
ward, and are set to expand 
to the east as well. 

“German people wonder 
what is happening to them, 
but at the same time they feel 
the weight and strength of 
their new situation." says 
Bruno Leblanc, director of 
EuropSische Wirtschafts- 
hochschule (EAP group) in 
Berlin. “The prevailing trend 
in German politics still leans 
toward European integration, 
though there are now strong 
intellectual currents in favor 
of a more national-based ap- 
proach. 1 would liken these 
latter to a German form of 
‘Thatcherism' rather than to 
the more extremist trends 
that are sometimes depicted 
in foreign press articles." 

Lingering ambivalence 
Against the background of 
American politics and war in 
Bosnia, Britain and France 
have recently been making 
modest efforts to boost their 
cooperation in military mat- 
ters. Joining in the single cur- 
rency is a very different is- 
sue. and could hardly be 
contemplated in Britain’s cur- 
rent political situation. 
Whether the fear of marginal- 
ization in Europe's business 
and financial markets could 
lead to a change of view in 
the long term remains to be 
seen. 

Continued on page 11 


.it: . , 

*~ 1 '. • f- 





ideas 




faster 

barriers 


fall 




The drive toward economic integration in Europe is welcome news to many 
providers of products and services, especially those who stress high quality and 
reliability. They know that in the long run, good ideas will gain a competitive 
edge as boundaries fade away. 

One good idea that is already widespread and growing on a European scale is the 
Pfandbrief, a concept that dates back 225 years to the time of Frederick the 
Great. In a number of European countries, Pfandbriefe have proven themselves 
as reliable instruments in their own capital markets. 

In Germany, the Pfandbrief - a special variation of a very European product - 
is a low-risk bond issued to finance mortgages and loans to the public sector. 
Pfandbriefe account for nearly 40 % of the entire DM 2.7 trillion German bond 
market. And as cross-border trading in Europe grows, German Pfandbriefe are 
attracting increasing attention among international institutional investors. 

Pfandbriefe have a potentially significant role to play in further harmonizing the 
European capital market. It is in this spirit of integration and harmonization 
that good ideas can flourish and open new jperspectives for economic prosperity 
in the future. As political leaders meet this week in Essen, good ideas will again 
be needed to help create an environment that fosters new opportunities for 
healthy expansion across borders in Europe and beyond. 


Germany’s Mortgage Banks 


Wiesbaden ■ Bayerische Verelmbank AG. Mflnchrn ■ Hypo-Bank. MUnchcn • Uertwhe HypoUnktabajik Frankfurt AG. Frankfurt - Kheinhyp. Frankfort ■ Deutsche GetwuMnschaftM-Hypothekenbank AG, Hamburg • Frankfurter Hypothekenbank AG. Frankfurt • Deutsche Cent nilbudeukredii- AG. Koln • B-.tyeriwhf 
DeFf.vBunk- ^ _ W(dtHy p, Dortmund • Berlin Hyp, Berlin • Sflddeuterte Bodeiterwfitbank AG, Mflnehen • Mllnchener Hypothekenbank eG. Mflnchen • HamburgHyp, Hamburg ■ Wflrttembejgw Hypo, Stuttgart ■ NarobwgHyp, NOraberg • Hypothekenbank in Ewen AG. Eaeen • DeuLwhe Hypothekenbrink i Ai 

Han.leb-bunk ^.ig-Hawiov-reche Hypothekenbank AG, Hannover • Allgemeine Hypothekenbank' AG, Frankfurt ■ Rhembnden Hypothekenbank AG, KOln ■ LQ hooker H.vpotbtkenbank AG, Lilbeck • Nondhypo Bank, Hamburg • BfC Hypothekenbank AG, Frankfurt • WL-Rmk. Mflnster • Hypothec bank in Berlin AG. Berlin 






Page 10 


. ^V i. y 

& Si 

>•■. • t: 



fri tte ptpolhw: man Integration of Infrastructure to order to share the costs of energy transport 


Energy / Increased Setf-Suffidency 


Also Due to Expand: The EU Natural Gas Grid 


White competition, price 
transparency and third- 
party access have been 
preoccupying Brussels, oil 
and gas producers and 
gas transmission compa- 
nies have been acting to- 
gether to ensure Europe's 
security of supplies - in 
their view the top priority in 
assuring a free flow of en- 
ergy on competitive terms. 
This has brought them 
closer together in a world 
where political turn- 
arounds and oil crises are 
regularly experienced. 

Europe's highly integrated 
gas grid reflects the develop- 
ments and growing energy 
demands of an expanding 
European Union. With Nor- 
wegian gas now flowing 
through France to Spain, and 
likely soon to flow through 
Eastern Germany to Poland 
and the Czech Republic. Eu- 
rope has achieved a well-bal- 
anced supply policy, with 
roughly one-third of Its gas 
coming from Russia, one- 
third from Algeria and one- 
third from Norway. 


considerable energy re- 
sources, oil. gas and hydro- 
electric power, Norway has 
become the chief European 
energy supplier. In spite of 
the environmental accept- 
ability of gas, it is the financial 
risk in building infrastructure 
capable of carrying fuel over 
thousands of kilometers from 
Norwegian offshore fields 
that is the driving force be- 
hind the integration of the Eu- 
ropean energy grid. 

Risk-sharing between buy- 
ers and sellers has become a 
necessity, but this also en- 
tails sharing the rewards in a 
European market - set to 
double its consumption from 
a current 260 million tons of 
oil equivalent to up to 400 
million tons by 201 0. Projects 
are numerous, but among 
the less risky are those locat- 
ed within Europe. Britain and 
Norway are both about to 
make important pipeline de- 
cisions that should strength- 
en and further integrate the 
European energy grid. 


Sharing financial risk 
This integration effort should 
increase as the EU wel- 
comes Austria, Finland and 
Sweden as new members - 
although Norway has chosen 
to remain outside. With its 


The Interconnector 
A $460 million project to link 
Bacton on Britain’s southeast 
coast to Zeebrugge in Bel- 
gium, called the Interconneo- 
tor, is one of these projects. 
Seven companies, among 
them multinationals and 
British and Norwegian part- 


ners, have signed on to form 
a new gas-transport compa- 
ny. This prestigious project 
will make Britain a net ex- 
porter of gas to the Continent 
from 1997 until the time 
when the flow needs to be re- 
versed in order to fill the de- 
mand/supply gap in Britain, 
perhaps as early as 2010. 
Norwegian, Russian or even 
Algerian gas could then flow 
back through the Intercon- 
nector. 

Indeed, bringing more gas 
to Europe from both Russia 
and Algeria is possible. Links 
already exist in the east to 
carry Russian gas from 
Orenburg into Germany and 
France, while Algerian gas 
feeds into Italy through a 
complex of pipelines that 
crosses the Messina Strait to 
Sicily. 

Furthermore, the 1,370- 
kilometer (850-mile) Europe- 
Maghreb trunk line, due to 
become operational in 1997- 
98. will Jink Ihe Algerian Has- 
si R’Mel field to Spain. As 
much as 40 percent of the $2 
billion investment is bang fi- 
nanced by the European In- 
vestment Bank. The Euro- 
pean Union considers itself 
directly concerned by this 
trunk line, for which an exten- 
sion inside the Union is al- 
ready envisaged at a later 
stage. 


The Identity crisis currently 
being experienced by Algeria 
has led major buyers to ask if 
the Islamic fundamentalist 
movement could destabilize 
the national company Sona- 
trach, jeopardizing the free 
flow of Algerian supplies to 
Europe. 


Out of Siberia 
In the meantime, new sup- 
plies of cheap Russian gas 
are being presented to the 
European gas market. But 
what exactly does “cheap 
gas" mean, when it has to 
come all the way from the 
Yamal Peninsula in Siberia? 
A pipeline project estimated 
to cost $40 billion in the initial 
stage but as much as $100 
billion in its entirety hardly 
suggests “cheap gas." The 
Yamal project, now declared 
technically feasible in spite of 
the challenges presented by 
permafrost, still remains a 
misty venture in terms of 
funding. 

At the turn of the century, 
the Yamal gas would already 
be flowing into Poland, which 
has ratified an intention 
agreement with Russia. The 
project will require Western 
capital in orderto get off the 
ground, with some sources 
implying that Russia still 
needs to sort out its business 
notions with Western coun- 


Environment/ The South's Priorities 


Mediterranean Countries 


GERMANY 


Seek a Greener Alignment 


If your corporation is 
looking for a foothold in Ger- 
many or intends to broaden 
its existingbase by an acquisi- 
tion, we can assist in search, 
approach and negotiation. 


As our domestic clients 
are usually entrepreneurs, 
proprietors or shareholders 
of privately-owned German 
companies, we are well ac- 
quainted with their mentali- 
ty. We are sensitive to this 
when making approaches 
and during negotiation and 
valuation. 


If local competence is 
needed to realize your acqui- 
sition goals in Germany suc- 
cessfully, please contact us for 
further information. 


Visitors love to swim at 
southern Europe's golden 
beaches and drink in the 
fragrant air, enviably free 
from the pollution of the 
more industrialized north. 
But they often think twice 
about drinking the local 
water, and may be far from 
impressed by sanitation 
conditions. 

This is foe crux of foe envi- 
ronmental problem for less- 
developed European Union 
members such as Greece, 
Portugal and Spain. Their air, 
seas, rivers and countryside 
are relatively unsullied — 
apart from notorious excep- 
tions like the smog-bound 
center of Athens and parts of 
the Mediterranean. 

But many homes do not 
yet have access to running 
water or sewage facilities. 
Where water is available on 
tap, it is often of an inferior 
quality and expensive. In 
Portugal, the EU’s most 
backward member in this re- 
spect, only 60 percent of 
homes have running water, 
and even fewer are linked to 
sewage systems. 


cope with existing difficulties 
and eliminate foe risk of oth- 


ers emerging. 

Investment Is being chan- 
neled in two directions. 
Preservation and protection 
is a priority. The poorest EU 
members possess some of 
foe most undisturbed natural 
habitats in Europe. But such 
areas are highly vulnerable 
because of the strong pres- 
sure for industrial develop- 
ment in these countries and 
the lack of financial and ad- 
ministrative resources to pro- 
tect them . 


Fuchs Consult 


Kruuzberger King 64 ■ 65205 Wiesbaden 
Telephone lx 49 hi 1 1 7U 00 40 ■ Faxfx 44 611) 71 lU 


Profiting from hindsight 
Governments are confident 
that environmental lessons 
learned with hindsight in 
Northern Europe can be ap- 
plied less painfully in the 
south. A high level of invest- 
ment, largely supported by 
EU structural funds, is being 
mobilized to help the region 


Sustainable development 

The effort to protect environ- 
mental assets reflects the 
principle of sustainable de- 
velopment that was empha- 
sized at the 1992 Earth Sum- 
mit in Rio de Janeiro, Brazil. 
The tenet is that lasting eco- 
nomic progress is based on 
the maintenance and im- 
provement of natural capital 

stocks, such as dean water, 
fertile land and safe energy 
suppOes. 

Preserving the quality of 
the environment is a press- 
ing concern for countries 
such as Greece, Ireland, 
Portugal and Spain, where 
tourism is a vital component 
of national revenue. It also 
has an immediate bearing on 
efforts to attract inward in- 
vestment and on the market- 
ing of agricultural and other 
products. Portugal’s mid-At- 
lantic Azores archipelago, for 


example, is malting the pris- 
tine quality of the islands’ en- 
vironment an important com- 
petitive advantage for its 
cheeses and other dairy 
goods. 

"Except for a few black 
spots where action is being 
taken, we believe the quality 
of Portugal’s environment is 
almost unrivaled within the 
European Union," says As- 
censo Pi res. Portugal's direc- 
tor-general for the environ- 
ment. “Our overriding con- 
cern is to preserve that quali- 
fy. both because of its intrin- 
sic value and because of the 
competitive advantages it of- 
fers our economy." 


Playing catch-up 
If one main drive of Southern 
Europe's environmental in- 
vestment is toward preserv- 
ing qualities that the north 
has to a large extent lost, the 
other is aimed at catching up 
in areas such as water distri- 
bution, sewage systems, 
waste management and land 
reclamation, where more de- 
veloped countries are con- 
siderably more advanced. 

Stakes are high in the 
competition for the contracts 
and concessions being 
awarded in the development 
of such infrastructures and 
services. This was reflected 
in the recent privatization of 
the municipal water services 
of Mafra, a town of only 
26,000 consumers, 30 kilo- 
meters (18 miles) north of 


-f 


Fxports / Impetus for Growth 


Economic Building Blocks 


One of the mam engines fueling Euro- 
pean growth over the past two years has 
been exports. But there are now signs 
that the European Union’s economyts 
shifting from an export-led to a domesti- 
cally driven economy. 

The export boom was largely bom from in- 
creased competition among EU states to 
reap sales in booming East European, Asian 
and recovering U.S. markets, as well as 
among themselves- ft has resulted in a hand- 
some narrowing of tte Union’s trade gap with 
the rest of the world, and the emergence of 


healthier economies. 


pansion within the EU to continue to be un- 
derpinned by strong export growth, in the 

v .i fttot the nflinS fTt i fit© 1713" 


derpinnea oy suuny . 

long run they predict that the gains fofotema* 
tforaf export mariset share made by toe Union 
in 1993-94 will recede. 


Shrinking trade gap 
In 1993, the trade gap narrowed by 50 bfflion 
Ecus ($61 billion), following a 10.6 percent 
surge in exports and a 0.8 percent fall in im- 
ports. According to Union officials, the EU 
trade deficit shrank to 1.4 billion Ecus in 


■ 199 a 

Germany was one of those that exceeded 
regional export totals. In the first quarter of 
1994, its exports to the United States, East- 
ern Europe and Asia rose by over 15 percent 
over the same period in 1993. 

EU countries are also emerging among the 
top-ranked foreign investors in many devel- 
oping countries. In the first quarter of 1994, 
for example, Britain, Germany and the 
Netherlands led the race to pump funds into 
India. All three were well ahead of the United 
States, which Jed the list in 1993. Britain and 
Germany retained their lead over Japan, 
which has heavily increased investment ac- 
tivity in the region. 

But European money is also playing an in 
creasingfy major rofe fn foe developed wortef 
as wed. Last year, European funds, for exam- 
ple, accounted for a massive 40 percent of 
the total foreign investment received in the 
United States. 

While Union officials expect economic ex- 


Strong export growth . . . 

Last year was exceptionally good for the EU. , 
With the Union’s total export growth figures 
uo by 10 percent over 1992, foe biggest gain- , 
ere were Ireland, with 37 percent growth, * 
Greece (23 percent), Belgium, and Luxem- 
bourg (1 9 percent each), the Netherlands {IB, 
percent) and Britain (15 percent). • * ■ ■ 

While the rate of expansion of exports efr 
goods and services is expected to be 8 pet- v 
cent by foe end of this year, foe ELTs outgo- .’ 
ing economics commissioner, Henning 
Chrrstophersen, predicted in late November ., 
that it would continue to decelerate marginal,: 
ly to what he terms a “still high” 7 pefcen^K; 
1995-96. YV 


Investment spillover 

Europe's export growth to date has, however, 
been the key factor in fueling its ecoriorracs, 
growth. Tte initial strong impulse from buoj fc/* 
ant exports has spilled over to bring anin^ 
vestment revival, particularly in mach*riiBf$r 
and equipment, and an equally strongat^i 
pulse to restock. . V 

In addition, the improved donate has ajsp ' 
led to a revival in construction and to a greet; 
ual growth in private consumption. • ... . * . 

Mr. Christophersen. predicts that the 
Union's economy will, in fact, progressively, 
shift from an export-led to a domestically dri- 
ven dynamism over the next few years. 

Investment in equipment is expected to ur h 
dergo the most brisk revival, rising, accorfing.- 
to EU predictions, from the 2 percent grow&v . 
rate recorded this year to around 7 percent 
8 percent in 1 995-96. 

Anna Francis . 


tries before investments can 
be decided upon. 


"T 7 •. 




More trunk lines 
This situation dearly gives an 
advantage to Norway, which 
is currently discussing where 
“Europipe 2," its fourth gas 
trunk line to the Continent, 
Should land. Landing sites in 
France, Belgium or the Em- 
den terminal in Germany are 
being considered, while a 
fifth gas trunk line is also pos- 
sible in the future. 

Meanwhile, the two Nor- 
wegian producers, Statoil 
and Norsk Hydro, have 
joined with the two German 
transmission companies, 
BEB and Ruhrgas. to form a 
new transmission company, 
NETRA GmbH. NETRA will 
build another pipeline link in 
Germany to carry additional 
volumes of Norwegian gas to 
Eastern Germany and, in foe 
longer term, to foe emerging 
markets of Central Europe. 

This latest step, formalized 
in October, reflects the wish 
of producers and trans- 
porters to further integrate 
their upstream and down- 
stream activities with a view 
to better sharing the risks of 
huge infrastructure invest- 
ments as well as tte rewards 
of establishing a reliable gas 
market 

Annlck Lia 


Will Continue- 

~Rto 5” turns outite teaming asm _ througblfteEU 'j 

for tbs co n ference that Is takftig place <£ia- . y i '■ r. * T 

in Berlin from -March 23 to April 7, •' 

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than the event’s proper name: the various Want’; ‘ 

First Cofdsmnce of foe Signatories of _ foofSb iskfetefee..' ; 

tte Convention on Protecting the C8~ ' - concrete ■ ' 

mate. •. * 'bop 

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fete March even? wi8 strive to continue bbrib&ripy Y 

foe work of the earlier environmental ■' tipn by 7- 

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Conference on foe Envirorwiient Der '■ iq fapich^ti^ 

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On foe beach: fighting the good fight for the environment 


Lisbon. No fewer than nine 
groups, each including an 
important foreign company, 
competed for the contract, 

which was awarded to a con- 
sortium led by Generate des 
Eaux of France. 

The level of interest in a 
small municipal water ser- 
vice in Portugal is under- 
standable. Officials at Banco 
Cisf, a Portuguese invest- 
ment bank, estimate that 1 
trillion escudos ($6.36 billion) 
will be invested in foe coun- 
try's water sector between 
1994 and 1999. A total of 300 
billion escudos will go into 
high-pressure water supply 
networks, of which 240 billion 
will be supplied by EU and 


Portuguese government 
grants. 

About 700 billion escudos 
will be spent on low-pressure 
distribution systems, with 
300 billion being provided in 
aid. Similar projects are un- 
der way in various sectors of 
environmental improvement 
and protection throughout 
the poorer countries of Eu- 
rope. 


Portugal’s green agenda 
Reflecting Southern Eu- 
rope’s concern about pro- 
tecting natural assets. Portu- 
gal unveiled a National Plan 
for Environmental Policy in 
November. Backed by a bud- 
get of 100 trillion escudos. 


about half provided by the 
EU, it determines objectives 
to foe end of the century and 
delineates the most impor- 
tant projects 10 be undertak- 

0n. 

Teresa Gouveia, Portu- 
Qfil s minister of environment 
and natural resources, says 
important aims of the plan 
are to encourage productive 
sectors of the economy to 
make environmental con- 
rams an integral part of foeir 
business strategies, improve 
coordination of environmen- 
tal protection with territorial 
planning and make the pro- 
tection of natural assets a na- 
tional concern. 

Peter Wise 


] *>MJ l> 




















INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


®SS; ; 'V-‘ 


py 


ii\ 


European Union 


Banking / Breaking Down Borders 


Migratory Financial Products 


Rather than setting up 
branch operations in other 
countries, Europe’s fi- 
nance houses are using 
cross-border electronic 
systems to enter hitherto 
closed national markets 
and to offer products and 
services directly, on-line, 
to European Union con- 
sumers. 

The result has been a be- 
lated, indirect realization of 
the single market’s aim of in- 
creasing access to financial 
products and lowering the 
costs of financial services. 

While many of the Ell’s 
national banking communi- 
ties ensconce themselves 
behind a wall of high fees, a 
number of pioneer banks 
have been using standard 
on-line technologies to effect 
a revolutionary reduction in 
the costs of conducting 
transnational business in Eu- 
rope. 

Cause and effect 
In early October, Germany’s 
Handelsblatt financial daily 
announced that "EU bank 
transfers are getting more 
and more expensive." It re- 
ported that these transfers 
now cost an amazing 25 per- 
cent of the total transfer 
amount, a full 2 percentage 
points more than last year. 
The source of these figures 
was the European Commis- 
sion itself, which chastised 
those changing the exorbitant 
fees, saying that they fly in 
the face of the spirit of the 
9pgle market. 

A concurrent headline in 
Munich's Suddeutsche 
Zeitung announced that a 
;onsortium of four leading 


European banks had put the 
Continent "on the way to 
real-time banking." The new 
Inter Bank On-Line System 
(I BOS) will provide bank cus- 
tomers at 2,000 outlets in 
Britain, Spain. France and 
Belgium with e way to instan- 
taneously and inexpensively 
pay international bills or 
transfer funds on a point-to- 
point basis. This provides an 
alternative to the SWIFT sys- 
tem, which routes all transac- 
tions via a central clearing- 
house and is thus relatively 
expensive. 

In subsequent moves, sev- 
eral major American banks 
active in Europe have an- 
nounced their intention to link 
up with IBOS. Germany's 
trade papers are speculating 
that the country's Landes- 
banken (state-level, public- 
sector-owned banks) are 
also jockeying to join. 

Virtual bank accounts 
Going IBOS one better, 
Standard Chartered Bank is 
now offering what amounts 
to the first "virtual account" to 
its customers. According to 
published reports, these cus- 
tomers first establish an off- 
shore account with the bank 
and then draw funds and 
conduct other transactions 
via a debit card and the near- 
est on-line automatic teller, 
no matter what country the 
teller happens to be located 
in. 

The retail stocks and secu- 
rities sector is also undergo- 
ing changes. Until recently, 
private investors in Europe 
wishing to purchase stocks 
not registered in their home 
countries often had to rely on 




sending checks and binding 
orders to correspondent bro- 
kers and other relics from the 
Age of Paper, or on purchas- 
ing "country funds." in the 
United States, these mutual 
funds are sold at a discount 
and without any handling 
charges, but most of Conti- 
nental Europe's brokers 
charge a hefty markup on 
them. 

Screen-swapping 
Enter the "extendible elec- 
tronic trading floor.” In this 
arrangement, an exchange 
(by way of example, Ger- 
many's Deutsche Termin- 
borse) allows foreign brokers 
to plug into its on-line trans- 
action clearing and settle- 
ment system. In a popular 
variation, two exchanges 
simply "trade screens." In ef- 
fect, this makes each ex- 
change's broker a full- 
fledged member of both - all 
via electronics. 

These technologies have 
been in place in Europe's In- 
terbank and Interbroker sec- 
tors for some time. The only 
change has been to extend 
them into the retailing sector. 

International products 
Meanwhile, Europe's finan- 
cial products have been do- 
ing quite well on the interna- 
tional front, thanks to the 
growing openness created 
by the single market. British 
and Danish fixed-rate de- 
posits have become best- 
sellers in France and Ger- 
many. In turn, demand from 
abroad for Germany's 1 ,500 
mutual funds has been in- 
tense, with foreign buyers 
representing the fastest- 




New Members /The One That Got Away 



A Hole in the Nordic ©q§ 

■ v 

With . four countries voting on ". percentto 4^p^rcent' 
whether or not to Join the European weeks kedrearr^f * 

Union, 1994 was seen as 0 crucial year 
for the EU’s fortunes* A positive. vote 
from the citizens of Sweden, Norway; 

- Finland and Austria would show the 
world that the EU, In spite of the col- 
lapse of Its ERM monetary framework 
and continuing recession, was stilt an 
attractive group to Join. 

•' Mow the voting is over and the. Union 
' spored.torae out of four-, not perfect, but 
satisfactory* Norway was toa.onty country 
to vote against joining, by a margin of 52.2 












tong .valued -their ck^e' 

' wito.Naway arid 

EU, that good-natured fefetkeiship 

be tested Should congcls 

.will EU members' show greaier-ldyaft@<-= 

• U afso scuttles' the i$ea o$'J^dmg--ek. 
powerful NorcSc voting btoc 
Sweden’s prime minister, tngvar Cs$S^ ?. 
eon, said he particularly ■regreto' n#- 
. able to work with Norway on jssuos.il 


percent to 47 & percent; but than Hwmah ' unemployment and tire environment 


ways the'couirtry most likely to say.no, 
.having done so once, before, in 1072: Eu- 
■ ropaan Commission President Jacques 
Delora has, however, leftthe ctaoropepfor 
. Norway, saying that after the intergovem- 
.. mental EU conference in 1996, new appli- 
cations would be considered. • 


. in the Union, although Finland » cartels*' ft'- 
. support initiatives on toose trentsl ' - • v . 

One issue bom Sweeten and£lntaocL 
have pledged tc take secrecy' 

the SWs decision-making process. Start C 
drnavia has a tradition of open geivtri* 

% . ment and pubCc access, and it 

Austria was the first of the four to' vote,. ■ spread that idea toBruasets. The report--'- 
choosing “Yes’* by a majority of two. to one.. ,■ . will also press for. support toiamrers and'.* 
- Finland then held toe first of what would others in the sparsely populated northern : 

• be tfwee refemndums in quick stfocesstori areas. Ftntencfs Prime A#nteter EsfoAHd i 

• across the Nordic region, crt.OcSL l6vot- . hascalted tor a oampfot% ne^ f=U poBc 

' 6^tojofoby57ftorc«TttOi43pe«»ntOn to meet Arctfc needs. • ' .\v,v? 

Nov. 13. the Swedes came in with a $£2 • '• 


Calculating the cost of conducting transnational business. 


growing segment of this mar- 
ket, according to Germany’s 
association of investment 
companies. 

Backed by a Europe-wide 
marketing campaign, Ger- 
many's Pfandbriefe (mort- 
gage bonds) have also been 
riding a wave of interest from 
abroad. 

Non-German buyers are 
reported to partially account 
for the recent surge in the 
bonds' sales, which are now 
running 22 percent higher for 
the year. 

Terry Swartzberg 


The Underlying Ties That Bind the Union 


“European Union” 

was produced in hs entirety by trie Advertising Department of die International Herald Tribune. 

Writers: Keith Foster is a freelance writer based in Sweden. •Anna Francis is a freelance writer based in Amsterdam. • Timothy Harper 
is a writer and lawyer based in Ridgewood, N.J., who writes an international politics and economics. • Catherine Hickfey is a financial 
and business writer based in Budapest •Joshua Jampot is a freelance writer based m Paris. •AnnickLia is a correspondent for Euroil 
based in France. • WUUam Pitt is the author of "More Equal than Others: A Director's Guide to EU Competition Policy, "to be published 
in Britafa by Director Books in December. •IWchael Rowe is a Paris-based financial and business writer. •Terry Swartzberg is a 
business writer based In Munich. • Peter Wise is a freelance writer based in Lisbon. 

Program director: BfflMahder. 


Continued from page 9 

EU member countries have agreed 
on their timetable for the establishment 
of a single currency, which could hap- 
pen as early as 1 997. Moreover, the Eu- 
ropean Monetary Institute - the precur- 
sor of the European Central Bank - is 
now installed on the top three floors of 
its tower block in Frankfort. 

Hardly any of toe EU member states 
currently meet the Maastricht treaty 
convergence criteria, which have to be 
satisfied before they can join the pro- 
posed monetary union. Broadly speak- 
ing, these specify a maximum bud- 
getary deficit of 3 percent of gross do- 
mestic product and government borrow- 
ing of not more than 60 percent. 

Social costs 

The welfare costs of toe recent reces- 
sion account for much of the problem. 
Recovery is under way, but EU govern- 
ments are all finding it difficult to explain 
to their citizens why they now have to 


cut back in sensitive areas such as pen- 
sion provisions in order to meet the 
Maastricht criteria. The long-term com- 
petitive advantages that are supposed 
to arise from these sacrifices may look 
decidedly remote to men and women 
who have been paying their taxes and 
social security contributions for toe last 
20 or 30 years. 

"In Spain, for instance, the govern- 
ment is culling back at toe national level 
but allowing expenditure by regional 
governments to continue," says Fernan- 
do Cortinas. economics professor at the 
Institute de Empresa in Madrid. "In my 
view, it could well take another 10 to 1 5 
years before European countries win be 
in a position to form a monetary union." 

The equation is further complicated 
by the rising tide of applications for 
membership. The arrival of Sweden, 
Finland and Austria, whose economies 
are broadly similar to those of current 
EU members, poses relatively few 
problems, but applications from East- 
ern Europe and the Mediterranean stir 


up more fundamental questions. 

Union at any speed 
"Ultimately, the Europe of the 12 is go- 
ing to become 28 or 30,” says Mario 
Telo of the institut d'Etudes Eu- 
ropeennes in Brussels, "it will take 
many years before some of the new 
members will be in a position to join the 
central economic and monetary mecha- 
nism, yet they wilt all be represented in 
the EU institutions. This dearty calls for 
difficult reforms in the way the Union op- 
erates." 

An obvious temptation in an enlarged 
and ever [ess cohesive Europe will be to 
slip back toward a looser association of 
member states. Some favor this idea al- 
ready. The concept of a multispeed Eu- 
rope in which the strongest and most 
willing members lead the way to closer 
union offers one possible alternative. 
This brings the focus back to a small 
cluster of rich nations at the heart of 
Nonhern Europe grouped around 
France and Germany. M.R. 



This is not a camel. 


Not long ago, the European businessmen thought banking in the 
Orient was all about camels and merchants, A misperception? Not at 
all. Just a century ago, the small banking district in Istanbul -then the 
capital city of the Ottoman Empire- was crowded only with Europeans 
who knew their trade. But not any longer. Today, Istanbul is a centre of 
world banking and commerce. And Turkish bankers are talking 
(^SMEL ratios, not camels. 

If you would like to know where Turkish banking stands today, 
please ask how Garanti Bank figures on the CAMEL Rating System 
(Capital, Asset quality, Management, Earnings, Liquidity). As one of 
the pioneers of the dramatic change over the last half a century, we 
will show you how globally competent a Turkish bank can be. 


GARANTi BANK 


,, Rfiviikdero Ca ddcsi. Maslak 80670 feianbul / TURKEY TcUjFa* £0.212) 265 40 40 Telex: 27635 ffKMr 
63 BuynKoere Coutacr person: Mr. Husnu Akhan, Executive Vice President. 




Opel Austria GmbH 
' Home to General Motors' 
Major. European Plant ’ 


Coca-Cola GesmbH 
'The Gate to Eastern Europe " 


J. & L Lobmeyr 
In Vienna since 1823 
Crystal Lighting and Tablesels 


Thonet Vienna 
in Vienna since 1842 
Bentwood Furniture 


* The Centre for Program and Systems 
Engineering Worldwide ' 



and trade. It is mainly because of this last factor that so many 
East European corporations have their International head offices 
here. Times have changed - but Vienna remains Vienna! 

Should you have queries or re- 
quire any information on the busi- 
ness location of Vienna, pleass con- 
tact the information centre at the 

VIENNA BUSINESS PROMOTION FUND 


I * 


VIENNA BUSINESS PROMOTION 
FUND, Ebendorierstrasse 2, A-1082 
Vienna. Tel.: +43 (1) 4000-86794, 
„ FAX: +43 (1) 4000-7070 


i 

< 

* 

« 


i 

i 


i 








In just four years since reunification, the former East Germany has become one of the I ■ 
most attractive locations in Europe for international investors. One of the prime reasons : 
is its new and advanced telecommunications infrastructure, the most sophisticated in thdf 
world. And the speed with which Deutsche Telekom has put it all in place is in itself a ] 
feat of engineering unparalleled in the world of communications. Currently, no fewer than: 
100,000 new telephone lines are being connected every month - over twenty times morel 
than in the old German Democratic Republic. The telephone infiustructure for Eastern 
German industry is already fully established. 75 % of all local networks have been com- . 
London nletely overhauled. Data lines are now available in every area. And the same : 

Tel.: +44 71 287 17 11 ^ ^ 

Fax: +44 71 287 so 99 a ppii es to mobUe networks, radio, television and, from 1995 , ISDN - the 
T 2*424 29 00 new nervous system of European industry. In high-performance fiber optics « 

Fax 1 +1 212 424 29 89 : 

Tokyo technology, Eastern Germany even leads the field. As the world’s first network 

fS: 3 ! 3 52 ]l 86 32 operator, Deutsche Telekom is bringing 
Pans fiber optics right to its customers’ door- 

Tel.: +33 1 44 43 00 00 . _ Jl 

Fax: +33 1 44 43 oo io steps in the eastern part of the country. 


The vsseg 


V.-r -• 
-- • ; • 




S’wOl'.'i ' 

I* 5* ; " • - 


Tokyo 

Tel.: +81 3 52 13 86 11 


J e “' 2 s 2 775 os i i So a sound basis has been created for a 

Fax: +32 2 775 05 99 gecure SUCCeSSfijl filtUTe. NOW it’s 

Tel.f +65 538 80 78 up to investors to make a shrewd deci- 

Fax: +65 539 63 97 ^ 



r . sion on where to set up business. 

£; Z so 22 56 s! io Telecommunications made in Germany. We tie markets together. 


Deutsche 


!Q! Te-l*e-k-om 


1 1 


m 


! I 


3 






SPONSOREDSE^nM 


mssM 


Page 13 



"-f-j . ■; . ••• ■ 

S^lii^^pean Union 





! 4s 


Lobbying / Earning Legitimacy 


The Rise of EU Lobbyists 

Brnf AR .: * 



mSsSKS 

ja waaia K gssssr 

CS.'SESER 1 * 1 '- ^~“®5SS 

SS= 

The irioa rt f ( ’ ■ byists to communicate with 

‘o' farming out one another, 
lobbying to external consul- But the oicture is channi nn 
F.?r« rea f ched Continenta I “Lobbying^ now weSta? 

Channel an? JS£“ # the ,ish ^ n •» N-hrtSS5i 
L»nannei ana, earlier, from is developing verv raoidiv in 

f^Jhe Atlantic. In the Belgium and Sce ' savs 

Uretsd States, political lobby- Simon Gentry, a senior ac- 

emi^ent ™?° r forc i? in 9 ° V_ count e *ecutive at European 
ernment - so much so that Strategy, one of the leadina 

bastPrTfrf k reg “ lar, y larn ‘ Britishfirms of political tobb® 
basted for being in thrall to ists active in Europe ^ 

n£fJiS."!? e i eSt 9r0ups em " This trend was well-illua- 
2222 9h " powered con - trated by the experience of 
. . .. . Compagnie des Machines 

Jjl ®"*“h tobby-sts carry Bull, the French computer 
less clout, but their power is manufacturer. When Bull de- 
waxing The defeat in early cided earlier this decade that 
November of government its survival depended on a 
,. £l5 nS -° P. r,vati2e 'he Post capital injection of 4 billion 
- * O™ 0 ® . IS widely attributed to francs ($740 million) from its 
effective lobbying by the main shareholder, the 
postal wortters' union. French state, it had to square 

On the Continent political the deal with the European 
lobbying has been no less in- Commission. To help it do 
tense, but more discreet. In this. Bull hired GJW Europe 
Germany, powerful trade as- tha Brussels arm of GJW 
sociations still rule the roost Government Relations, a 
In France, Italy and Spain, leading British firm of political 
huge swathes of Industry lobbyists, 
have historically been under The European Commis- 
state control. Lobbying was sion approved the capital in- 
often little more than a matter jection, plus 2.68 billion 
of a few well-placed tele- francs in additional grants, in 
phone calls. July 1 992. Before long, Bull 

was back for more - a further 
A fa fran 9 a|se 1 1 .1 billion francs in aid was 

In France in particular, an . approved by the Commis- 
elitist educational system sion in October this year. 




of the 


1 reasons 


ed in [lit 
tse;a 

■we: ini 
\es more 

U^'.v*** 


IIP Sill 


nV |)p[k' 

L 4 i 

aenv- 




Eastern Europe / Patience 

The Visegrad Four: 
Waiting for the Call 

When Jozsef Antall, the Hungarian prime minister at 
the time, predicted in 1990 that Hungary would be a 
! member of the European Community in 1995, his fore- 
cast did not sound entirely unrealistic. But with 1995 just 
around the comer, it is clear that for Hungary, as well as 
^r Poland, Slovakia and the Czech Republic, joining the 
EU is still a long way off - despite their associate mem- 
bership status and applications for full membership. 

Economists agree that the transition period from planned to 
market economies in Eastern Europe has taken much longer 
than was anticipated at the start of the political reforms - and 
is still by no means over. In the four Visegrad countries - the 
I term refers to a cooperative agreement signed in that Hungar- 

[ ian town in 1 991 - privatization is only 50 percent to 60 per- 
cent complete, and currencies are not yet convertible. Many 
loss-making, state-owned companies are still in dire need of 
restructuring. According to Professor Richard Baldwin, author 
of the recently published book "Towards an Integrated Eu- 
rope, 1 ’ the biggest obstacle is the lack of experience. "These 
countries are being tun by people who had no idea about how 
a government runs a market economy until five years ago," he 
says. “The human capita) is missing because it hasn't had 
time to develop." 

Fulfilling the prerequisites 

In Hungary, further hardships for the population are expected 
as the new Socialist/Liberal Democrat coalition government 
tackles the gaping central budget deficit 
The Czech Republic, which has so far experienced a rela- 
tively smooth transition period, is expected to undergo major 
economic restructuring when the currency is made convert- 
ible - probably next year. 

Slovakia is struggling with political instability and. the legacy 
of an obsolete armaments industry. Foreign direct investment 
has stowed down, and growth is sluggish. Poland, by far the 
largest and therefore the most important market for the EU, is 
experiencing industrial growth and increasing foreign invest- 
ment, but at the same time is fighting escalating wages and 

inflation. . . .. 

In some respects, however, the Visegrad economies are 
more developed than those of some EU member countries. 
GDP per capita, for example, is lower in Portugal than in Hun- 
gary or the Czech Republic. Inflation is lower in foe Czech Re- 
public than in Greece or Italy. “No real catena have been set 
by foe EU" says Tamas Novak, a researchf ellowat foe Insti- 
tute for World Economics in Budapest. “They didnt tell us 
what we should do if we want to join foe except 
political stability and economic growth. But to what extent? 

Legislation^ omTarea foe Visegrad four are attempting to 
ifflSEta Xlinewifo EU norms. But Central European 
«xSbmis^accept that there toR* »1 jh« r 
soeed uo foe process of integration with the EU.. In the end, 
ffiSSbershl^S EUforfoeVjsegrad eoum igofr 

r^^a^irector 
2 P “e& is 

Baldwin. ‘This is entire for visegrad countries as a 
membership in ^y^QOO^ totteEU. it would mean 
given and calculate percent" Within foe context of- 
an increase in the bixget of commons over rais- 

foe recent bitter debate ir 1 foe *™j|j ^ 1 0 pe^ert to1 .l 

ins GD? ato pS^nt rise in the EU bucket over 

ttreneaa fiveyeS seerre afarfetched prospect, he adds. 

membership for th ® n V SS er St of Central Europe but not in 

full membership is in foe intere^ ^ g oofnA p^e _ re | a - 

foe interest of foe HSJlJX are much more complicated, 
tions are of mutual interest final there 

and basically thafs why I j 

jwon't be any 3^?° ° f " ateo’believes that despite the 
- Professor Baldwin say« ev « ntU aily join the EU, He 


Competition policy has 
long been a major battle- 
ground between industry and 
politicians in the European 
Union. Mergers, joint ven- 
tures and state aid are often 
hotly contested, as lobbying 
consultants promote the 
commercial interests of their 
clients. Other contentious ar- 
eas of policy-making indude 
environmental legislation 
and employee-protection 
legislation. 

More votes to sway 
Recent changes in the Euro- 
pean Union have generated 
even more work for lobbyists. 
The expansion of the EU 
eastward into Austria and 
northward into Scandinavia 
is making it hander for firms to 
influence votes in the Council 
of Ministers; no longer are 
one large country and two 
small ones sufficient to block 
legislation. “We are all very 
busy at the moment," says 
Patrick Brooks, a director of 
GJW in Brussels. 

A major source of debate 
among Brussels lobbyists is 



Friends, Europeans, Commissioners, lend us your ears. 


where power will be concen- 
trated over the next five 
years. The departure of 
Jacques Delors at foe end of 
this year as president ot the 
European Commission is 
widely expected to end an 
unprecedented period of 
centralization in Brussels. 

“The Commission will 
probably be much weaker in 
the long term," predicts Mr. 
Gentry. “For the next five 
years, Europe is going to be 


going through an intergov- 
ernmental phase." 

The governmental angie 
Mr. Gentry is not alone in ar- 
guing that an office in Brus- 
sels will not be enough to win 
arguments in the new, en- 
larged European Union. Lob- 
byists need to pay more at- 
tention to putting their case 
across to member state gov- 
ernments on their home 
ground, he says. 


This creates obvious diffi- 
culties for even the most 
well-resourced lobbying 
firms. The cost of maintain- 
ing offices in every capital of 
every member state in the 
European Union would be 
prohibitive. At present, no- 
body even tries; all foe lead- 
ing firms rely heavily on cor- 
respondent relationships 
with other lobbyists or with 
law firms around Europe. 

The strength of these rela- 


tionships is likely to be tested 
to the limit in the years to 
come. “Eighty-five percent of 
measures adopted by the 
European Union start in the 
member states," says GJW's 
Mr. Brooks. “The most suc- 
cessful kind of lobbying is 
stopping something from 
starting." 

Code of conduct 

One potential brake on the 

success of professional lob- 


byists around Europe is their 
poor image in some coun- 
tries. In an effort to distin- 
guish themselves clearly 
from the “cowboy" outfits so 
often said to lurk in foe back 
streets of Brussels, a group 
of the leading firms recently 
promulgated a code of con- 
duct. They included foe U.S. 
Hill & Knowlton and British 
firms Charles Barker. GJW 
and European Strategy. 

William Pitt 


Y 


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■ s>- 


f ■ : 'f^ T'-r- — -.■ . 


■'■ Jr ~ 


Page 14 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, 


8, 1994 




» ' H' I : r " 

i r^.iX 

WMi 

4 r'4 

. V. if • * 


kfaggrilsl 


Telecommunications Race: 
Regulation vs. Technology 


7/je telecom message ; 

dfemarrffe . 
monopafos 

by 1998. . 


Thanks to a recent EU 
decree, 1998 is looming 
larger and larger. Many 
companies, however, are 
hot waiting for the removal 
of the last national restric- 
tions on the telecommuni- 
cations market to launch 
advanced new services 
and to take on new mar- 
kets. Among them are the 
Continent's powerhouse 
national telecommunica- 
tions companies. 

“A historic decision," is 
how Wolfgang Bdtsch, Ger- 
many’s minister for post and 
telecommunications, labeled 
the decision made by the 
EU’s council of telecommuni- 
cation ministers on Nov. 1 7 
in Brussels. 

The council unanimously 
agreed to add the national 
telecommunication networks 
to the list of monopolies be- 
ing dismantled as of Jan. 1 , 
1998. For such national com- 
panies as DBP Telekom, 
France Telecom and Spain's 
Telefdnica, this would seem 
a major blow. 

Their exclusive access to 
their nationwide networks 
purportedly represents the 
national telecommunications 
companies' final competitive 
advantage. The previous de- 
crees associated with 1 998 
had given their competitors 
carte blanche to offer a wide 
range of customized and 
standard services in the EU 
countries. Until the recent 
decision, however, the com- 
petitors were going to have 
to offer those services via the 
national grids, assuring the 
telecommunications suppli- 
ers ample rental incomes. 


Media / The Final Frontier 


Now, presumably, the 
providers will be able to 
patch directly into the sys- 
tems, placing them on equal 
footing with the national com- 
panies. 

The letter of the law 
The new decision sounds 
revolutionary and sweeping, 
in fact, it is not final and it 
does not immediately affect 
all of the EU or authorize the 
setting up of alternative 
“voice" networks, pegged to 
be the hottest segment of the 
market in the late 1990s. 
This omission has angered 
the consortia planning such 
networks, in a key point, the 
decree's importance is being 
superseded by develop- 
ments on the telecommuni- 
cations market that, instead 
of weakening the national 
companies, should actually 
strengthen them. 

As Mr. Botsch himself 
points out, the decree still 
lacks the enabling legislation 
and various approvals that 
will make it official policy. 
This legislation will presum- 
ably be contained in the sec- 
ond “green book" on tele- 
communications, due to be 
submitted by the European 
Commission by the end of 
the month. The decree will 
not take effect until 2003 in 
Spain, Greece, Ireland and 
Portugal, and in 2000 in Lux- 
embourg. 

Voice monopolies 
For six of the EU's strongest 
telecommunications coun- 
tries {including newcomers 
Sweden and Finland), the 
decree, by not allowing the 


setting up and use of com- 
peting "voice" (standard tele- 
phone) networks, indirectly 
preserves the monopoly. 

Mr. Botsch has answered 
these criticisms by pointing 
out that further measures ad- 
dressing these problems are 
in the works. Specifically, he 
has predicted that progress 
toward authorizing "alterna- 
tive networks" will be made 
over the next few months. 

“A windfall in disguise," is 
how the decree is being de- 
scribed in Germany's trade 
press. Analysts have been 
quick to note that the national 
companies will probably de- 
mand and receive huge 
sums of money in up-front 
compensation for the “depre- 
dation" of their most lucrative 
asset, plus a percentage of 
total revenues arising from 
ongoing use of the network. 

Multiplying technologies 
For other observers, the 
whole issue of who gets to 
operate which standard, ter- 
restrial-based voice net- 
works “is becoming increas- 
ingly irrelevant," according to 
Steven Garside, a Munich- 
based telecommunications 
consultant. “The 1998 dis- 
cussion basically applies to 
only one area of an increas- 
ingly diversified telecoms 
market which is currently un- 
dergoing a historic multiplica- 
tion of carriers and carrier 
technologies." he says. “Op- 
erating in many of these new 
market segments requires 
large amounts of capital and 
systems expertise, and that’s 
precisely what Europe's na- 
tional teiecoms have." 







One example of a diversifi- 
cation of carrier technologies 
is the proliferation of dedicat- 
ed satellite-based communi- 
cation networks, of which 
there are now 20 in Germany 
alone. Nearly all of them use 
the highly mobile VSAT (very 
small aperture terminal) 
technologies in the setting up 
of flexibly configured propri- 
etary networks for car deal- 
ers, gas stations and freight 
forwarders. 

Internal diversification 
As for diversification within 
national markets, Spain has 
committed itself to licensing 
two mobile telephone net- 
works by the end of 1994. 
One of them will be owned 
by the national company 
Telefdnica, the other by. one 
of five consortia. By 1998, 
the Spanish government 


wants to h^e authorized an- 
other ‘^tawi^.t^tecomrnu- . 
ni cationscompany to com- 
pete vritftTetefdnk^ 
Privatization and open 
competition are coming to ail 
of Europe’s national marksta, 
even to such relative lag-, 
gards as Portugal and 
Greece. With cfifffcuity arid 
delays, both countries are . 
proceeding with the private 
zation of their national tele- 
coms and expansion into 
new segments. 

. Meanwhile, the well-devel- 
oped national markets are! 
getting more and more net- 
works. Germany’s fourth ma- 
jor mobile network started 
operations in May. Foilowing- 
suit, France is now licensing; 
a third mobile telephone net- j 
work, due to go into opera-': 
tion by the beginning of* 
1996. XS-:. 


Broadcasters’ Dilemma: Freedom or Free-for-AII? 


Since its original “Televi- 
sion Sans Frontieres” di- 
rective in 1989, the Euro- 
pean Commission has 
been trying to inspire a 
more efficient media in- 
dustry. 

The European Commis- 
sion's most recent media pa- 
per, published last spring, 
gave new guidelines calling 
for the industry to liberalize 
and foster new services and 
cooperation. Papers like 
these offer far-reaching rec- 
ommendations for Europe as 
a whole. But since the indi- 
vidual countries are so dis- 
parate, European media ef- 
forts may not be harmonized 
for some time. 

Meanwhile, a fast-moving 
industry will not wait. Unable 
to count on a European su- 
perstate to lead them, na- 
tions are meeting the media 
rush on their own. Some- 
times it works: sometimes it 
feeds Euro-friction. 

The digital revolution 
The revolution started a 
decade ago, with cable and 
satellite sen/ices opening up 
competition among broad- 
casters. Today, companies 
are positioning themselves 
for digital technology. With 
digital communications, com- 
panies that control both soft- 


ware (programming) and 
hardware (delivery systems) 
will dominate. 

Cross-ownership Is ine- 
vitable in this brave new 
world. Already, print pro- 
prietors like Pearson and 
Reuters are expanding into 
business television. Small 
European producers are 
busily engineering cross-bor- 
der links before digital com- 
pression brings the hundreds 
of channels that couid bury 
many modest media outfits. 

Global competition 
“In Europe, we're just not 
competitive on a global 
scale." admits Pierre Grim- 
blatt, president of France's 
Hamster Productions, which 
has sought European part- 
ners lo form a major studio, 
Hollywood-style. 

Fattening the TV compa- 
nies is openly promoted by 
governments. France and 
Britain last year passed laws 
easing restrictions on owning 
TV licenses. An amendment 
to Britain's 1 990 Broadcast- 
ing Act made it legal for one 
person to control two sta- 
tions. France effectively dou- 
bled the amount of shares in 
a TV company an individual 
can own, from 25 percent to 
49 percent The two nations, 
among Europe’s most active 


markets, are seeking more 
freedom for the sector, which 
is predicted to experience 
high growth. 

Increased holdings mean 
fewer players and greater 
concentration. This reminds 
many of the days when Euro- 
pean broadcasting was 
state-run, and has some 
wondering if the industiy is 
on fast-forward or rewind. 

Private media conglo- 
merates began appearing 
before the dust settled on 
crumbling state monopolies 
in the 1980s. Today's large, 
vertically integrated goliaths 
enjoy economies of scale 
and exist in every country: 
Hachette in France, Bertels- 
mann in Germany, Elsevier 
in the Netherlands, Berlus- 
coni in Italy. They are inter- 
national players, since the 
EU's single market - and its 
free movement of goods and 
services - promotes pan-Eu- 
ropean activity. They com- 
bine audiovisual production 
and distribution with publish- 
ing and computer software, 
often more. Many reach 
megasize by swallowing 
smaller fish abroad. 

At the same time, how- 
ever, they sen/e the national 
interest by protecting their 
home markets from foreign 
multimedia conglomerates 


like themselves. As industry 
concentration continues, 
countries are becoming more 
vigilant “Companies are be- 
ing used as shields,’* ob- 
serves Jakob Stelgelmann, a 
program, buyer for the state- 
owned Danish Broadcasting 
Corporation. ‘There is cultur- 
al protection while at the 
same time we're all saying 
how European we are." 

Free flow of programming 
Technology will also quell the 
quota question. The EU cur- 
rently stipulates that TV 
channels broadcasting from 
Europe must air 51 percent 
European programs. But in 
10 years, pay-per-view and 
video-on-demand will add 
video-based services of all 
kinds that will blur the bound- 
aries between home and 
hertzian entertainment 
Until then, each country 
must go it alone. Nowhere is 
the problem plainer than with 
pan-European TV channels 
like Turner Broadcasting's 
TNT/Cartoon Network. The 
U.S. giant uplinks its signal 
from Britain, then beams to 
the Continent- with 100- 
percent American fare, which 
defies the quota rule. France 
and Belgium will not allow 
TNT to broadcast on their 
turf, branding it “the British 


. Trojan Horse." On the one 
hand, Britain is seemingly in- =. 
fringing the EU directive, 
on the other, France and Bel- 
gium could be cited for con- 
travening the free-market m 
.principle. .. . 

Meanwhile, cultural pas- « 
sions run high. Christian -- 
Davin, chairman of France .. 
Animation, a top Gallic car- 
toon producer, says: "The 
French example should 
spawn other children abroad. • 
Every nation should have a 
policy so production is coher- 
ent and the rules are obeyed. . -| 
If there weren’t any laws, our / 
children would only see for- 
eign-made shows." j 

Reinventing the market 
Broadcast markets are being . . 
reinvented while individual 
countries struggle to protect ’ : 
their home ground. Will the * 
nations be ready when the ; 
new age dawns? “Some ex- * 
istrng companies will have * 
trouble adjusting, that's for * 
sure," says Mr. Stegelmann. 

“A lot of broadcasters are 
closing their eyes to new ! 
technology. They talk a lot ' 
about interactive TV, but ‘ ! 
they're not investing in it. _ j 
They still believe in the old'" 
system. This means even . 
more protectionism ahead." , 
Joshua Jampot 


Worker* i 


History /The U.S. Model 


Not Exactly the United States of Europe 


High-tech connections, 
excellent prospects. 


investors wanting swift access to the 
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with its sophisticated infrastructure 
and central location an ideal 
stepping stone. Between them, 
Cologne/Bonn airport and Dussel- 
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autobahn service more than 200 
destinations worldwide. At Cologne 
Central Station, the hub of the West 
European railway network, you'll 
find frequent trains to all European 
centres. Before the decade is out, 
travelling times between Cologne, 
Paris, London, Amsterdam and 
Brussels will be slashed by new, 
advanced high-speed trains. 
Cologne and its airport will be 
integrated into the network served 
by Germany's ICE super train, for 
significantly faster travelling to and 
from Frankfurt. Moreover, ten 
autobahns radiate from Cologne 
and its ring road, carrying your pro- 
ducts far and wide, while another 
essential artery of the European 
economy, the Rhine, flows straight 
through the city's heart. 


To find out more about how Cologne 
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just write, fax or give us a calL 


Stacker (Coin 

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IGchortzstr. 2-4, 50667 KtUn, Germany 
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CO 


■yjll 


Blood and money, both 
today and 200 years ago, 
account lor much of the 
European Union's diffi- 
culty in achieving any sort 
of working America n-style 
federalism. 

A quick look at cultural and 
institutional history on oppo- 
site sides of the Atlantic 
helps explain why there is a 
United States of America to- 
day - and why the EU is en- 
countering so many stum- 
bling blocks to its stated 
goals of closer political and 
economic union. 

Culturally, many of today’s 
Europeans seem to fear that 
federalism means giving up 
their national traditions. They 
are not eager for the type of 
union that means their cur- 
rencies no longer exist, or 
that their own nation's lead- 
ers do not have the final say 
in how and where their sol- 
diers serve. 

Radical patriotism 
America's so-called founding 
fathers, on the other hand, 
had no such traditions to pro- 
tect. Indeed, while national 
pride remains a stumbling 
biock to a united Europe, the 


concept of patriotism was a 
radical new notion in the 
American colonies. 

While present-day Euro- 
peans bridle at the type of 
central control that allows 
Eurocrats to dictate how they 
run their banks or make their 
ice cream, the signers of the 
Declaration of Independence 
were used to a common - 
English - system of law and 
justice that was administered 
pretty much the same in 
Massachusetts as in Virginia. 

Rather than being taught 
as Europeans are, about 
past wars and economic 
competition with their neigh- 
bors, Thomas Jefferson and 
other Revolutionary-era re- 
publicans were fed grammar- 
school diets of Roman and 
Greek classicism that glori- 
fied the ideal of an enlight- 
ened democracy. With so 
much land in the new coun- 
try, these scholar-statesmen 
envisioned a nation of gen- 
teel farmers not unlike the 
model described by the Ro- 
man poet Virgil. 

For a brief few years, un- 
der the Articles of Confeder- 
ation, the United States did 
exist in a form closer to to- 


day’s EU than today's United 
States of America. States 
governed themselves with lit- 
tle regard for the federation, 
even issuing their own mon- 
ey and laying tariffs on goods 
from other states. New York, 
for example, imposed taxes 
on vegetables from New Jer- 
sey and firewood from Con- 
necticut. 

Commercial imperatives 
It didn’t work. Several states 
printed vast amounts of cur- 
rency to help pay off both 
public and private debts. Be- 
tween currency fluctuations 
and internal trade wars, mer- 
chants, creditors and traders 
complained that they couid 
not do business. Congress 
tried to pass laws to regulate 
commerce, but without a 
strong executive or a federal 
judiciary, the states and indi- 
viduals simply ignored the 
new regulations. 

George Washington, who 
turned down a crown to find 
himself president of a nation 
in name only, warned of the 
need for a stronger central 
government despite wide- 
spread misgivings from the 
former colonies, which were 


suddenly enjoying their sta- 
tus as mini-republics. In the 
end, Federalists such as 
Alexander Hamilton man- 
aged to convene the 1787 
gathering that met in 
Philadelphia to tinker with the 
Articles of Confederation, but 
ultimately threw them out to 
write what became the U.S. 
Constitution. 

Central to that new, 
stronger American federa- 
lism, of course, was the tri- 
partite form of government 
and the system of checks 
and balances on the execu- 
tive, legislative and judicial 
branches. The European 
Union, in contrast, has been 
dominated in recent years by 
its executive arm, the Euro- 
pean Commission. 

Many American legal 
scholars believe the new na- 
tion might not have survived 
- and certainly not in its pre- 
sent form - without the U.S. 
Supreme Court’s assertion of 
its influence in a pair of early 
19th-century cases. 

In the Marbury vs. Madison 
case in 1803, Justice John 
Marshall asserted the federal 
courts’ right to declare a law 
unconstitutional. Sixteen 


years later, in McCulloch vs. 
Maryland. Marshall set forth . 
the principle that states can- 
not tax - or otherwise inter- 1 
fere with - the functions of — 
the federal government. ^ 
These two monumental 
rulings, which in effect pro- 
vided the vitality for the sys- 
tern of checks and balances; 
have no parallel in modern 
Europe, where the European 
Court of Justice operates-^* 
much more narrowly in terms *’■?. 
of what it can tell the EU and 
member states to do. 

ie-T 

Military issues 

The war in Bosnia, whether.'^ 
viewed as a civil war or as act -e » 
°f aggression by one nation 
against another, presents the J T 
EU with a troubling and dh/i- 
sive obstacle. Politically and 
diplomatically, the EU hardly 
seems prepared to present j 1 * 
itself as a true union when it*-."* 
cannot resolve the war in Hs 
own backyard. ,/j 

In America, on the other'-? 3 
hand, the young nation's first ^ 
war iniet 2i was against " 
that familiar old enemy, Eng- 
land. It was a costly but unify- " m J 
ing exercise. T? 

Timothy Harper 1 * -1 


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International Herald Tribune, Thursday, December 8, 1994 


Page 15 


THE TRIB INDEX - 1 1 1 8711 

SS^sa’aa.'K! ffafi 

byBloombQTg compiled 



100 


90 














JASOND jasond 

1994 19M 


North America 


Approx. wsi^Sng: 26 % 
Close; 9359 Prav.- 9420 


Latin America 



7he Index lacks US. t Mar values at stocks bv Tokyo. New York. London, and 
Aigontlno, Amftola, Austria, Belgium. Brazil. Canada, Chile, Dwtmar*. Hniand, 
Yranen, Gonnany, Hong Kong, Italy, Mexico, Nethoriands, New Zeeland, Norway, 
Skigapora, Spain, Sweden, Switzerland and Venazueia. For Tokyo. New York and 
London, the eidex to composed at ihe 20 kip Issues ki terms ot market capitalization, 
othenriso die ton top stocks am tracked. 


1 Industrial Sectors : .r : i 1 


Wat Pit*. % 

daw dose efange 


Wed. 

doee 

Piyn 

doie 

% 

etwee 

Energy 

11157 111.68 -0.10 

Capita! Goods 

112.90 

112.73 

40.15 

Utfifles 

12524 124.74 40.40 

nun ilrtliielulie 

K8W HnlRjfuBS 

128.68 

129.08 

-051 

finance 

11102 11141 -034 

Consumer Goods 

102.63 

10252 

-0.18 

Sendees 

111.35 11156 -0.19 

Ifiscdtanaous 

115.04 

11458 

4051 

For rrareMbfmatiQnataurtfie tnctex. a boaldei ts avaiatife free of chaiye. 
to Trib Index, 181 Avenue Charles de Gaulle, 925Z1 NeuOy Cedes, France. 


© International Herald Triune 


Greenspan 
Warns of 
Inflation 


Cmpilcd by Oar Staff Fran Dapauha 

WASHINGTON — The 
U.S. economy is growing more 
quickly than anticipated and in- 
flationary pressures are build- 
ing, Alan Greenspan, chairman 
of the Federal Reserve Board, 
warned Wednesday. 

He said that consumer-price 
inflation, at a 2.6 percent annu- 
al rate during the first 10 
months of 1994, had not 
changed appreciably from last 
year but that price pressures 
were clearly evident. 

Prices of raw commodities 
“have been rising rapidly for 
nearly two years.” he told the 
Joint Economic Committee in 
his first congressional testimo- 
ny since July. 

Mr. Greenspan's comments 
echoed the Fed's quarterly re- 
port on the economy — die so- 
called Tan Book — which is 
compiled by the 12 regional 
Federal Reserve Banks. 

He said increasing demand 
may encourage producers of 
finished goods to pass on their 
higher costs to consumers. 

Mr. Greenspan's assessment 
was seen by some as a sign of 
more rises in interest rates. 

“Inflation is here, and there’s 
no way of getting around it any 
longer,” said Astrid Adolf son. 
an economist at MCM Mon- 
ey Watch in New York. 

Congressmen urged the Fed 

to show restraint 

“Hie Federal Reserve should 
be very cautions about making 
any further increases in inter- 
est-rates before se eing the im- 
pact of its recent strong ac- 
tions,” said Representative 
Kweisi Mfume, a Democrat 
from Maryland who is chair- 
man of the joint committee. 

The Fed raised rates for the 
sixth time this year cm Nov. IS, 
by 0.75 percentage points. 

Separately, the Labor De- 
partment said productivity of 
American workers rose a re- 
vised 2.9 percent in the third 
quarter. 

(AP, Bloomberg) 


Growth: Now Korea Pays 



By Steven BmU 

Inlfmatianai HeraU Tribune 

SEOUL — The under- 
ground gas explosion here 
that killed at least four and 
injured dozens Wednesday 
was but the latest in a string 
of disasters that underscore 
the shortcuts South Korea 
has taken in its mad dash to 
economic growth — and the 
unpaid bills that are coming 
due. 

In October, the 15-year-old 
Songsu bridge spanning the 
Han River in Seoul collapsed, 
sending 32 to their deaths. 
Three days later, a cruise ship 
caught fire, killin g 50. 

Earlier in the year, a Kore- 
an Airlines plane crash-land- 
ed at an island off the south- 
ern coast, and two long- 
distance trains collided. 

In Seoul, several buildings 
are said to be on the verge of 
collapse because of faulty 
concrete, subway tracks are 
out of alignment, and clogged 
highways resemble parking 
lots. Wednesday’s gas explo- 
sion occurred after gas leaked 
from a storage tank near a 
subway construction site. 

The disasters and decay are 
testimony to an infrastruc- 
ture that was built on the fly, 
has been poorly maintained 
and is now overwhelmed. 

“In the 1960s and 1970s we 
were in such a hurry that the 
main em phasis was on short- 
ening the construction period 
and saving money.” said D 
SaKong, chairman of the In- 
stitute for Global Economics 
and a former finance minis- 
ter. “Now we’re paying the 
price of high growth.” 

The cost of repair and im- 
proved maintenance is un- 
known but will eventually be 
borne by taxpayers. In addi- 
tion, the government plans to 
spend as much as $ 1 10 billion 
for new infrastructure in 
1993-97, including a high- 
speed railway linking Seoul 
and Pusan and a new interna- 
tional airport near SeouL 

It is not only the infrastruc- 


ture, however, but South Ko- 
rea's economic structure and 
strategy that are in need of 
repair. 

Having grown far richer 
than most people would have 
imagined three decades ago. 
when the country ranked 

Autoworkers caU a strike 
over Samsung’s entry into 
die imfeEtiy. Page 19. 

among the poorest on Earth, 
South Korea’s economy has 
reached an awkward adoles- 
cence — no longer a develop- 
ing nation, it is not quite a 
fully developed one. 

So, even as the country en- 
joys its best economic period 
in a decade — with an 8 per- 
cent expansion of gross na- 
tional product likely this year 
and 7.5 percent forecast for 
1995 — there is a growing 
conviction that a new formu- 
la must be found. 

“We’re the leading country 
among ihc newly industrializ- 
ing economies and are about 
to join the ranks of the devel- 
oped nations,” Mr. SaKong 
said. “But how to jump the 
hurdle is a big question.” 

It is an issue that is also 
likely to engage the other 
“Asian tigers" — Taiwan, 
Hong Kong and Singapore — 
as they continue growing at 
headlong speeds, although 
those economies are generally 
more laissez-faire and thus 
more likely to adapt easily. 

“One question is, to what 
extent is quality control key 
to sustained growth,” said Pe- 
ter Morgan, chief economist 
for Korea and Japan for Mer- 
rill Lynch. “Maintenance and 
corruption, these are sand in 
the gears that make things 
difficult” 

In South Korea, there is 
broad agreement that what is 
most necessary is higher tech- 
nology and a less regulated 
economy. But knowing the 
goal and knowing how to get 
there are different matters. 
Seoul's economic develop- 


ment strategy has been close- 
ly modeled on that of Japan- 

In the early 1960s, as Seoul 
was starting to recover from 
the Korean War and from a 
long period of Japanese colo- 
nization before World War 
11, government bureaucrats 
began calling the economic 
shots. They channeled scarce 
capital to strategic sectors 
and offered a protected home 
market to support export-led 
growth. 

But although the strategy 
has been a success. Japan no 
longer offers a model It is far 
more advanced and wealthier 
than South Korea, and its 
massive exports and towering 
trade surpluses have brought 
it heavy criticism from trade 
partners. 

Japan’s recession also has 
underscored the suffocating 
effect that highly regulated 
domestic markets can have 
on development of technol- 
ogy and quality of life. 

Moreover, it is dear that 
South Korea’s reliance on 
growth from massive exports 
of capital-intensive products, 
its economic dependence on a 
group of imm ense chaebol, or 
conglomerates, and its legacy 
of government intervention 
in the markets are increasing- 
ly untenable. 

South Korea’s economy 
has simply become too big Tot 
government to manage. Until 
a couple of decades ago, offi- 
cials may have served a con- 
structive role in helping in- 
dustry elbow its way into 
international markets. But 
now industries are too large 
and complex for officials to 
supervise. 

Yet the government con- 
tinues to exercise control over 
credit allocation, interest and 
exchange rates. Businessmen 
complain of micromanage- 
ment by government officials, 
and a program to privatize 47 
state-owned companies, an- 

See SEOUL, Page 17 


Losses on Bonds 
Erode Profit at 
Deutsche Bank 


By Brandon Mitchener 

International Herald Tribune 

FRANKFURT — Deutsche 
Bank AG. Europe's most pow- 
erful private bank, reported 
Wednesday a 15.2 percent de- 
cline in operating profit in the 
first 10 months of the year. 

“We would have wished for 
something better," said Chief 
Executive Hflmar K op per. But, 
fending off charges of lacklus- 
ter performance by Germany’s 
largest bank, he said the bank 
expected a "satisfactory” result 
for the full year. 

Mr. Kopper blamed bond 
trading losses, the slate of the 
German economy and high tax- 
es for the bank's showing, 
which included a 27 percent de- 
cline in net profit. 

“Despite the brightening 
overall economic climate — es- 
pecially in Germany — the risk 
situation in the lending busi- 
ness has not shown signs of last- 
ing improvement compared 
with the previous year,” Mr. 
Kopper said. 

Operating profit after risk 
provisioning, the figure most 
German bank analysts follow, 
fell to 3.57 billion Deutsche 
marks ($23 billion) from 431 
billion DM a year earlier. 

The bank attributed the bulk 
of the decline to the extraordi- 
nary strength of the previous 
period. Between 1988 and 1992. 
average 10-month operating 
earnings of the h ank rose by 0.4 
billion DM. or 13 percent, the 
bank said. 

In the first 10 months of 
1994, however, income from 
trading on the bank's own ac- 
count fell 63 percent, to 543 
milli on DM from 1.46 billion 
DM, largely because of a sharp 
rise in interest rates worldwide 
that led to losses in bond trad- 
ing. 

Mr. Kopper said the compa- 
ny had written down its bond 
portfolio by 327 million DM in 
the 1 0 months. The bank's equi- 


ty trading result was “very, very 
good” but not enough to offset 
the bond trading losses, he said. 

Commission income rose 7.4 
percent, to 4.87 billion DM, but 
the bank’s net profit in the peri- 
od fell 27 percent, to 135 bil- 
lion DM from 1.85 billion DM. 

Mr. Kopper put the bank’s 
pretax return on equity at 
around 20 percent and declined 
to comment on the net return 
figure, which would be distort- 
ed by high tax payments. 

Analysts estimated the net 
return on equity at about 8.1 
percent in the period, well be- 
low last year’s average of 12 
percent and a rate of 16 percent 
for some foreign banks but bet- 
ter than other big German 
banks. 

“Next year they’ll probably 
be keen to talk about it because 
it’ll be a fraction higher than 
usual,” said Derek Bullman, an 
analyst at James Capel. 

“Deutsche is much more 
profitable than the other Ger- 
man banks and has a much 
higher return on equity.” he 
added. 

Mr. Kopper dismissed criti- 
cism of the bank’s own-account 
trading performance, saying, 
“I'll bet we earn more from 
trading than all the other big 
German banks put together.” 

Germany’s second-largest 
bank, Dresdner B ank AG, re- 
ported earlier in the week a loss 
in trading for its own account of 
301 million DM in the first 10 
months, reversing a profit of 
536.1 million DM in the year- 
eariier period. 

Deutsche Bank stock fell 2.50 
DM to 735.80 in a market that 
was otherwise slightly firmer. 

Regarding the renewed de- 
bate in Germany about the 
power of the banks in German 
industry and society, Mr. Kop- 
per said the issue was “losing 
steam” as the average holdings 
of German banks in German 
industry declined. 


INTERNATIONAL MANAGER 


Workers Try to Find a Voice 


By Louis Uchi telle 

New York Tima Service 

N EW YORK — Although millions 
of people want more control over 
decisions that govern their working 
lives, many American workers be- 
lieve manag ement has become SO powerful 
that workers will not get that power — even in 
union shops — unless management grants it 
voluntarily, according to a new study. 

The study, to be made public this week in 
Washington, is already influencing govern- 
ment policies. It found that workers would 
prefer to organize into independent groups 
that are not necessarily unions. Dele g ate s 
from those groups would sit with m a na g er s 
on committees running workplaces. 

But in real life, most workers said, such 
commi ttees are effective only if managers 
cooperate. To secure that cooperation, a mar 
jority in the study said, they would consent to 
be represented by groups that are powerless. 

“Workers want power- and they know 
managem ent cooperation is the key to having 
that power, but they don’t know how to 
compel management to give that coopera- 
tion,” said Joel Rogers, a professor of law and 
sociology at the University of Wisconsin and 
a co-director of the study. 

The AFL-CIO, the largest U5. labor orga- 
nization, had an advisory role in the study, 
which was carried out mainly for a presjden- 
tal labor comnnsaon. Management groups 
also gave advice. Spokes men for those groups 
said they considered the findings accurate. 

Labor Secretary Robert B. Reich agreed. 
“The survey,” he said, “reveals that at least in 
employees' minds, current management prac- 
tices are an obstacle to productivity gams. 


This is a direct invitation to management to 
wake up.” 

For the presidential commission, the study 
was important because it interviewed individ- 
ual workers, not just union representatives. 

“We have heard a great deal of testimony 
from union officials about what they think 
their members thin k and from managem ent 
about what they think their workers think,” 
said John T. Dunlop, the panel’s chairman. 
“But this is the first statistically valid sample 
of what workers themselves think on a range 
of issues erf particular interest to the commis- 
sion.” 

No labor issue is more central today than 
labor-management cooperation. Each side far 
vors a greater role for workers in decision- 
making. The big question has been how much 
independence and power workers should have. 

The presidential commission is considering 
calling for change in a labor law against 
company-controlled unions. 

The provision has effectively blocked the 
use of labor-management committees at some 
companies on the ground that managers 
would too heavily influence them. 

The study suggests that workers, in their 
desire to obtain management cooperation, 
might accept committees that give managers 
the final say. 

The findings also shed light on a second 
issue before the paneL In a preliminary report 
in the spring, the commission said the Ameri- 
can workplace could not become efficient and 
competitive until the hostility between labor 
and management was reduced. 

The chief source of the hostility, the com- 

See WORK, Page 19 


Times Co. Gets 
Into the Age 
Of New Media 

Compiled by (hr Staff Firm Dispatches 

NEW YORK — The New 
York Times Co. has embraced 
the electronic age. 

At a media conference spon- 
sored by Paine Webber Inc., 
Times Co. executives said Tues- 
day they expected the company 
to invest $1 billion to $13 bil- 
lion over the next five or six 
years to acquire television sta- 
tions and invest in other elec- 
tronic media businesses, such as 
cable television programming 
and providing information on 
CD-ROM computer disks and 
on-line services. 

“We recognize that we are too 
dependent on print media and 
need to shift our portfolio more 
toward electronic media over 
time,” said Gordon Medenka, 
vice president of operations. 

Analysts greeted the an- 
nouncement as an overdue step 
by a company that had appeared 
to not want to move too quickly 
toward electronic media. 

Times Co., with annual reve- 
nue of more than $2 billion, gets 
about 90 percent of its profit 
from newspapers and other 
publishing and 10 percent from 
electronic businesses such as 
television stations. 

Times Co, executives said 
they planned to increase the 
company’s reliance on electron- 
ic media so that ultimately 75 

See MEDIA, Page 16 


CURRENCY & INTEREST RATES 


Nov. 7 Eurocur re n c y Deposits 


Nov. 7 


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38680 

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535 

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(A5. donors per ounce, undenofttataitlt- 
bos; Zurich and New York onetana and cte- 
tag prices; New York Comes {February.) 
Source: Reuters. 




IVrKKMTIHMI, 

. .... 


(tribune 


l-S-UI IM»I I, <11111 H'l M !\ It-BK «»»<►•• ‘••'Sinv.ui* 




Expert 


communicators 


get more out 




of iht. 




kfe. 






You’re expert at keeping in touch with the affairs of the world - as regular 
readers you spend an illuminating 30 minutest with your paper doing just that. 

. Last year alone you flew off on over 4.7 million business trips*. So you 
■also need to be expert at keeping in touch with the affairs of your company. 

Good news for- fee mobile phone manufacturers that advertise with us. 
They, like you, are expert communicators. 

■ : For sunjmaries of fee surveys from which these facts are taken, please call, 
in Europe, lames^kLeod on (33-1) 46 37 93 8 1; in Asia, Andrew Thomas on 
(65) 2^3 647$; ifl'fee Aibericas, Richard Lynch on (2 1 2) 752 3890. 


Snunc: \ WVA Sarivys '92 / ’93, v Render Sutyey. *94. . 




^•““rr****! 


BiJSBs: 


Page 16 

MARKET DIARY 


INTERNATIONAL HERALD TRIBUNE, THURSDAY; DECEMBER 8, 1994 


Via Associated Ink 


Stock Prices Slide 
Amid Bond Malaise 


Dow Jones Averages 


EUROPEAN FUTURES 


U.S./AT THE CLOS E 

KKR a Step Closer to BordeaBuypat 

, imth IS Ohio IAP) - KohlbeiS Kravis. Refer** 


; Dally ctosfoosdf the. " 
Dow Jobes average 


om HWi 


Metals 


Hten Low Lost Settle OW 


Indus 3/1 tLO] 37J5.95 J710O3 3735.52 —10.43 
Tram U9A57 143053 ifilJ.W 1JIS« —'*■*! 
UIS I77J4 1B0 73 179 38 'BO .46 —077 


Cornp 1343 M 1250.* 7 1740 61 1744 JB —4.1* 


NEW YORK— Stocks drift- 
ed lower Wednesday, unable to 
shake off a malaise that came 
from a steep drop in bond mar- 
kets and a bankruptcy riling by 
a California county. 

The Dow Jones industrial av- 
erage fell 10.43 points, to 


U.S. Stocks 


3.735.52. Earlier in the day, it 
had been down as much as 27 
points. 

Analysts said the crisis over 
the bankruptcy filing, which 
followed major losses on trad- 
ing in derivatives, should not 
significantly affect the market 
Bui the drag was still evident 

“It makes you aware that 
there axe people out there who 
don’t know what they are do- 
ing, and by extension, you be- 
come less trustful of the market 
itself.” said Trude Latimer, 
chief market strategist at Fergu- 
son, Andrews & Associates Inc. 

Orange County jitters were 
severe enough to send shares of 
Merrill Lynch down 1W, to 35, 
on heavy trading — despite an 
explicit restatement by the bro- 
kerage giant that it had not in- 
curred losses related to the fias- 


co, which was initially 
annoniMred late last week. 

In the bond market, the 
ben chmar k 30-year bond fell 
15/32, to 95 16/32, raising its 
yield to 7.89 percent, from 7.84 
percent at Tuesda/s close. 

Bonds slid amid concern 
about brisk economic growth 
and the possibility that its 
bankruptcy filing might force 
Orange County to sell securities 
to raise cash. 

The filing “is the crisis this 
year," said Don Hays, director 
of investment strategy at Wheat 
First Butcher Singer. “The 
bond market can get concerned 
about anything, and a worried 
bond market worries the stock 
market." 

On the Big Board, Continen- 
tal Corp. jumped 436, to 1834, in 
heavy trading after CNA Fi- 
nancial agreed to buy the com- 
pany for S2G a share. 

McGraw-Hill Inc. fell 1%, to 
65%, after the publishing com- 1 
pany said rising paper costs and j 
postal rates would trim 10 cents 
a share from its 1995 earnings. 

Several technology stocks 
were down slightly, with MCI 
drifting l A, to 18%, and Micro- 
soft supping ft, to 63. Un- 
changed were Intel, at 64%, and 
AT&T, at 47%. 

( Knight- Ridder, AP, Reuters ) < 



Standard & Poor’s Indexes 


Industrials 

Tramp. 

Utilities 

Finance 

SP500 

SP100 


High low aow arae 
537.88 534 21 535.73 — 116 
3*11 3442! 344*5-346 
15022 14939 15003 - OJJ 
41.51 41.17 4121-0 

45111 45M1 4 SI .23 - 
422*5 419.18 42073 — 139 


NYSE Indexes 


HWi Low LOW Che. 


Composite! 

Industrials 

Trwisp. 

UtiSty 

Finance 


147.85 34633 24635 —1.00 1 
31231 31033 311.11 -1.19 
22J.OO 219.53 219.95 —2*5 
199.00 198 73 199*6 —0*4 
19662 1W2S 194*7 —155 


CUM Pr e vio us 

Bid ASk BM Ask 

ALUMINUM (HWi Grade) 

DoOars por metric top 
Soot 1837*9 1108*0 1834*0 1837*0 

Forward 1845*0 186800 1883*0 1864*0 

COPPER CATHODES (High Graft} 

Dollars per metric ton 
5p«t 2895*0 2898*0 2912*0 2911*0 

Forward 2858*0 2BSMB 2877*0 208*0 

LEAD 

Mlart per metric tan 
Spot 8U*0 819*0 630*0 831*0 

Forward 635*0 836*0 646J0 847*0 

NICKEL 

Dollars per metric ton 

Spar 8615*0 s*Wnn 8840*0 8 640 Q Q 

Forward 8750*0 876000 8770*0 878000 

TIN 

Mian per metric ion 
Spat 5950*0 596000 5965*0 5975*0 

Forward 600*0 6050*0 6053*0 8065*0 

ZINC (Special High Grade) 

Dollars per metric tan 

Spot 1108*0 1109*0 110050 1 109 JO 

Forward 1137*0 1130*0 1137*0 1138*0 


147*5 145*0 
148*0 I4SJS 
M925 W8M 
151*5 150113 
152*0 152*0 
15125 154*0 
N.T. N.T. 


EsL vafutne: 33*54 . 


US*0 147.75 Until. 
148*0 14825 +025 
148*0 150*0 +025 
150*0 15225 +050 
152*0 15350 +050 f 
154*0 155*0 Until . 
N.T. 15750 +050 i 
OPOfi bit. 107*04 I 


COLUMBUS. Ohio (AP) - Kohlberg gravis. 
and Bontenlnc. work* out a deal WbMr £g***g$ 
shareholders, knocking down another hurdle to KKR s planned 
$2 billion offer to buy out the company. ■■ • 


«4 


. BRENT CRUDE OIL (IF E) 

I UJS.doltanperterreHotsofUMbaneb 


14.15 UL7D 16*6 16*6 —010 

1406 1556 16*3 18*1 -0*8 

15*6 1553 1596 15.94 —0*6 

15.97 15*9 15*7 1597 —0*2 

15*4 1570 1556 15M +003 

1597 1579 1597 1557 +0*1 

1590 1571 1550 1550 — 0*2 

1596 15*3 1596 1554 —0*2 

KLT. N.T. N.T. 1598 —002 

N.T. N.T. N.T. 14*2 —0*2 

N.T. K.T. N.T. 18*6 —M2 

1417 1407 1417 1430 +018 


Est. rolume: 52*77 . Open mt. 181214 


As part of the settlements, KKK promiscu ^ 
intoBorden but has lost S 1 billion in the past two years dneip 
competition and high costs. 

General Magic to Launch IPO Effort 

WASHINGTON (Reuters) — General Magio fnc. s|id 
Wednesday it planned to launch an initial public ofrenng of 4 
milli on common shares. , . . . , , . 

■The developer of software platform technologies sai.d netpro_ 
ceeds of $47.6 million would be used for working c^taPaijd 
general corporate purooses, while aportion might be used tohSfad 
acquisitions of complementaiy businesses. ‘ • 




¥ 11 


Financial 


' a d :* $ OND 

'1994 >..= •• 


NASDAQ Indexes 


High low Lot am. 


High Law Close Change 
>MO MTU STERLING (LIFFE) 

BQfliNO - pti of 1H pti 

DOC 9048 9037 9X44 +0*2 

Mar 9244 9X40 92*6 + 0*4 


Stock indexes 


NYSE Most Actives 


Gom petite 

industrials 

Banks 

Imurmcp 

Ftaancs 

Tramp. 


739.46 734*4 734J4 —499 
741 JB 736*3 736*2 —8*0 
690*4 68509 885*9 -585 
B91.77 684.43 88590 —9*3 
B49.70 845*8 845*8 -7.11 
644.75 642.62 64014 —3*6 


Vodfnas 

RJR Nab 

Marti, vn 

Compaq s 

CnflCP 

WalMort 

AT&T 

Merdi 

GnMotr 

ABarek 

TeJAVK 

PSEG 

Hanson 

FerdMs 

motors 


wot hm 

81912 m, 
60219 6 
39012 36 
79275 4146 
28313 18% 
78183 22% 
20083 48 W. 
27361 27% 
25134 39% 
23547 21% 
22403 5346 
31803 26% 
21008 18V, 
19575 27'n 
19537 4646 


Dow Jones Bond Averages 


S Bonds 

umitte 


to urniries 
10 inchntrtob 


Close caw 
94*9 +010 
89J8 +023 
98*1 —003 


AMEX Stock Index 


HWi Law Lost aw. ' 
431*6 4Z7.91 429*0 —1*1 I 


AMEX Most Actives 


County’s Bankruptcy 
Drives Dollar’s Decline 


Compiled by Our Staff From Dispatcher 

NEW YORK — The dollar 
slipped Wednesday as concern 
over a financial crisis in Orange 
County, California, overshad- 
owed sentiment that short-term 
interest rates would rise further. 

'Hie dollar rose initially after 
comments by Alan Greenspan. 


Foreign Exchange 


the chairman of the Federal Re- 
serve Board. He told a congres- 
sional committee that inflation- 
ary pressures were building in 
the U.S. economy. 

His remarks fueled specula- 
tion that the Fed was posed to 
raise U.S. interest rates for a 
seventh time this year to temper 
growth. Higher rates often bol- 
ster the dollar by making U.S. 
assets more attractive. 

“It appeared this morning 
that Greenspan’s rather robust 
outlook for the economy may 
have increased the chances of a 
tightening,” said Bob Lynch, an 
analyst at MMS International. 

But the financial problems in 


Orange County eroded confi- 
dence in U.S. assets. 

The county filed for bank- 
ruptcy after losing a large por- 
tion of its investment fund. The 
bankruptcy filing is the biggest 
ever by a U.S. county. 

The dollar closed at 1.5676 
Deutsche marks, down from 
1.5724 DM on Tuesday. It also 
fell to 99.950 yen from 100.100 
yen and to 5.3840 French francs 
from 53995. Against the Swiss 
franc, it fell to 1.3255 francs 
from 1.3278. 

“1 think the dollar is going 
lower." said Alfonso Algo, a 
trader at Sakura Bank. “Orange 
County is only the tip of the 
iceberg. The risk that this is the 
start of a plague that will spread 
to other municipalities is very 
great/* 

The pound rose against other 
major currencies after the Bank 
of England raised British base 
lending rates half a percentage 
point, to 6.25 percent 

The pound ended at SI. 5660, 
up from $13623. 

(Bloomberg, Reuters) 



VoL High 

LOW 

Last 

Ow. 

EchaBay 

10883 10'4 

I0V, 

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+ 1b 


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3'1» 

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38 V. 

39V* 

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5253 lb 

V, 

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CheySfls 

5046 1316 

72V, 

13 

— "j 



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SwnUte 

45ft 3V> 

3to 

3*» 


PeaGM 

4023 12 

life 

119* 


NASDAQ Herat Actives 


VaL Mob 

Law 

Last 

on. 

mo 

50888 IfVb 

185b 

181b 

— 'A 

SOTBl 

39187 1410 

12*A 

1216 

—lVi 

total 

36748 054b 

67<b 

64 '/i 


PhvsQjA 

33349 24V, 

20V, 

22V, 

—3^ 

US HI til 3 

32528 43 Vs 

M'V 

40 'b 

-3'.y 

mtafEI 

30405 10W 

9 



Komao 

29280 369b 

2 SVb 

261b 


TaKjnA 

28118 23 

Z2nr H 

2216 

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CKCOS 

23493 33V 1. 

31S 

32ft 

—IV. 

Lotus 

23397 43V, 

40'/; 

42% 

*V5 

Mlcsfts 

22940 631b 

63 

63 

—1b 

BayNtws 

19071 26'.t 

755b 

25*. 

—V. 

ApidfAaH 

1B457 *5% 

43 V, 

4316 

— T*j 

Oracle 

18001 40'A 

39 'A 

39'y 

— ta 

vikings 

17091 27 9| 

36W 

27 V, 

*6. 


NYSE Diary 


Advanced 
Declined 
Uncnanoed 
Trial issues 
MwHIglK 
New Laws 


693 943 

1551 1282 

684 71 D 

2928 2935 

8 15 

163 149 


AMEX Diary 


Gn 

Advanced 20 

Declined 35 

Unchanged 75 

Total nwm 7ft 

rfe*, Highs 

N«v: Lai-.'S 41 

Prev. 

239 

357 

?10 

014 

7 

45 

NASDAQ Diary 



Advanced 
Declined 
Unchanged 
Total issue'. 

Me* Hflhs 
Nm Lowt. 


1203 1362 

3W2 1369 

1887 1691 

5127 5177 

29 *2 

209 203 


JUH 93*5 91*2 9L9S +003 

Sep 91*0 9i*9 rusa +aor 

Dac 91*3 91.15 91*3 Until. 

Mar 91.15 91J» 91*6 Until. 

Jan 91*3 9092 9098 Until. 

Sns 9096 9087 9093 Until. 

DM 9090 9083 9088 Until 

Mar 9084 9076 9080 Until. 

Jan 9079 9074 9073 Until. 

sep ra?i 9iua 90.73 —0*1 

Est. volume: 170179. Open tnL: £06030 
3-MONTH EURODOLLARS (LIFFE) 
n nmnw. ■ pts of in act 
Dm N.T. N.T. 9163 +0*6 

Mar K.T. N.T. 93L78 +001 

JIM N.T. N.T. 9020 — 0*7 

5aa N.T. N.T. 91*2 —006 

E»- volume: 0 Open mi.: 4*50 
MAOHTH EUROMARKS (LIFFE) 

DM] mnnan-pteof I08pct 

Dec 94*5 94*1 94*4 + 002 

(for 94*2 94*7 94*9 Until. 

Jaa 94.19 94.13 94.15 Until. 

Sro 9386 9380 9082 — 0*2 

Dec 93*4 9X45 9X48 —003 

Mar 9027 >016 9019 —007 

Jan 5182 92.90 92*3 —003 

Sep 9276 92*8 9270 —009 

Dec 92*6 92*8 92*1 —005 

Mar 92*3 92*8 9240 —002 

Jun 9231 9127 9225 — 002 

SOP 9227 9222 9224 — 0*3 

Est volume: 110611. Open Int: 740117. 

High Low dose Change 
3-MONTH PIBOR WAT IF) 

FF3 mil Han - pti afiSopct 
dm 94*0 9425 9427 — 0*1 

Mar 9X96 9088 9088 — 0*4 

Jen 9057 »3*5 9X48 —007 

S«P 9328 9X17 9X19 —0*6 

Dec 9X04 9289 9190 —010 

Mar 9274 92*1 92*4 —011 

JOB 92*0 9239 92*0 —012 

sep 92*6 9018 9221 -012 

Est volume: 71*70 Open hit: 189*20 
LONOOILT (LIFFE) 
tsooo* - PH & 22mU of 1M pti 
Dec 102-16 101-21 102-12 +0+7 

Mar 101-27 100-3B 101-22 +0+7 

Jim N.T. N.T. 100-22 + 0+7 

Est. volume: 104*06. Open Int.: 125*41 
GERMAN GOVERNMENT BUND (LIFFE) 

DMasuM-otsofiaapct 

Dec 9127 9095 9097 —0.14 

MOT 90*8 9007 9021 — 035 

Jen N.T. N.T. 89*9 —022 

EsLvriiene: I2LT7I. Open tot.; 190962. 
10-YEAR FREMCH GOV. BONDS (MATIF) 
FFmflQi - pts of 100 PCS 


HWi Law Char Change 

FTSE MO (LIFFE7 
05 per Index Print 

Dec 3047* 3002* 3006* — 14* 

MO- 3057* 3019* 30=05 — 15* 

Jan 3071* 30S7D 30305 — 16* 

Est. volume: 26*80 Open mt_:_64.9S 0 

High Low Ctose Change 

CAC 40 (MATIF) 

conn aw Itttiwr point 

DM 2001*0 1971*0 1977*0 -1 M 

Jan 2006. DO 1984.00 193000 — 0» 

Feb 2015*0 3DT5S0 1794J0 — 0» 

Mar 20S 6*0 2SHH.CD 2«SLK> -1*0 

Jon N.T. N.T. 1984*0 -1*0 

Sep Ml 7*0 2011*0 2009*0 Until 

Est. volume: 21+90 Open tot.: 40540 

Sources: Math. Associated Press, 
London inff Ftacmxtat Fmvrrs ExeMnpc. 
tnrt P et nd eu m Exchange. 


Nasdaq Criticizes U.S.’s Request 

NEW YORK (Bloomberg) — Nasdaq dealers W^esdSy 
called excessive a Justice Department request for records avii 
continues its inquiry into allegations of price-fixing. -mr 

Securities firms that operate on the over-the-counter .market 
said the department was seeking records detailing money paictab 
other dealers in exchange for securities. It. also wants tracks*' 
phone numbers and has asked firms to disclose traders' and 
supervisors’ compensation and the total number of Nasdaq stodcs 
each firm bought and sold annually. ft 


i' _ . ; 

.f l : ; 

' 

.* 

■f " v 


*** « .*• ' 
■ »v> 


l>: ■ 


DMctends 


Per Amt 
IRREGULAR 


Pioneer Int Shn . Jl 

5elleiK«n Qual Mun _ .1452 

Sella man Sel Muni _ *97 

wtuis Carman PLC c .161* 

c -approx amount per ADR. 


17-15 >3-29 I 

12- 15 12-31 

13- 15 13-31 
12-15 1-10 


STOCK 

Haraicb Stores - 10% 

STOCK SPLIT 


Dciooher Corel far I split 
Rvkoff Sexton 5 for 4 spitL 


INCREASED 

Co-Steel Inc 9 .10 

Coming Inc O .18 

DanaharCora g *4 

I Ulnab Central O 25 

Premier Indo* O .11 


12-16 12-22 
ms u+o 
12-16 1-20 
IMS 1+ 
12-23 1-10 


Rykoff Sexton a _ *375 1-25 2+ 

Vodafone Grp AD Rn d 2208 12-15 2+D 
tfasprax amount per share. 


Santa Fe Struggle Heads for Court 

CHICAGO (AP) — Burlington Northern Inc. has taken 
battle for Santa Fe Pacific Corp. to federal court. - „ 

Burlington Northern filed a lawsuit late Tuesday in U.S. Dis- 
trict Court in Philadelphia challenging Union Pacific Corp.’s hjd 
for Santa Fe. .. '7 

The suit challenged Union Pacific's proposal to put Santa^e 
into a “voting trust” that would run the company while federp] 
regulators decided whether a merger of Union Pacific's and Saiiia 
Fe’s rail operations was anti-competitive. * V 

Whirlpool Entering Chinese Market* 

BENTON HARBOR, Michigan (Reuters) — Whirlpool Coro, 
said Wednesday that it was entering the home-appliance marXfet 
in China with two joint ventures. - 

The appliance maker said it was acquiring a majority interesiftn 
China's largest microwave-oven producer and establishing ajofiit 
venture with the country’s first refrigerator manufacturer. ' J 


Amu Studios 


Spot Commodities 


Dec 

11X2* 

HUb 

>TX» 

— DlOB 

Mar 

112*2 

11X00 

112.18 

— 008 

Jaa 

111*6 

111*6 

111J2 

— 008 

Sep 

11054 

110*6 

11058 

— 006 


Est volume: 212*80 Open lid.: 156*90 


Market Sales 


NYSE 
Anwx 
Nasdoa 
In mil Hons. 


commodity Today 

Aluminum, lb 0834 

Cooper electrolytic. ID 1*3 

iron FOB. ton 213JO 

Load, lb tt-M 

5lhw,troyoz 4465 

Steel I scrap I, fan 127*0 

Tin. lb 4*465 

I Zinc lb 05692 


industrials 


Hlpb Low Lost Stifle Cira. 
GASOIL (IPE) 

UJl Men pw mtirlc ttm4oH of 1M (mi 
DM 13975 136*5 139*5 T3VJ0 —075 

Jan 14300 139.S) : 42.75 142J0 —050 

Feb 14575 14000 145.00 14475 -050 

Mar 14775 14375 14775 14775 Until. 

APT 14775 1447S 14725 14775 Until. 


Berry Petrol A 
ECl Tetocnm 
Erwx Resources 
FCB Flnantial 
Great Lakes Cham 
Hancock Fabrics 
Lwukjt Corp 
MBNA Corp 
MaanaintlA 
NBB Bcp 
N all Computer 
Natl Fuel Gas Co 
Oneida LW 
Peoples Enervr Cp 
R avel BkCda 
Snboanl COrp 
Soumwest Water 
Slav. II Apaarel 
Trtmas Carp 
Vesfaur Secur 
Western Gcs Resour 
Wortdmd DoOrvest 


*2 12-15 12-30 

74 12-31 1+1 

.10 12-16 12-29 
*8 13-12 13-29 
.10 12-16 12-29 
.12 12+1 1+1 
.10 1*1 1+1 
*8 1-1 V1J 

*25 2+ 3-16 

.18 13-16 1-1 

77 13+1 V16 
*0 12-19 1-4 

*9 12-16 1-4 

*95 13+] 1-15 

.12 12-12 12+0 
AS 12-19 1-13 
79 1-25 2-34 

75 13-20 12+0 

.10 12-31 1-20 
*3 13-15 12-23 
*4 1-38 2-20 
77 12-30 1-18 
*5 12+1 2-14 


Apparel Firms Charged With Bribefy 

NEW YORK (Bloomberg) — Officials of Anne Kirin and eight 
other New York-based apparel' contractors were charged Wednes- 
day with paying bribes to the International Ladies Ganneat 
Workers Union to avoid contributing to union benefit funds. 

Two union organizers were charged with taking bribes. Hyse 
other union officials were charged earlier in connection with the 
same investigation, the Labor Department said. . • , 


More Firms Have Women Directors ! 


M .1103 13-12 12-19 


NEW YORK (Bloomberg) — More than half of the Fortune 
1,000 companies — and almost all of the most profitable ones -j- 
have at least one woman an their boards of directors. ■ ! 


o-on&oaJ; s-payable la Canadiao funds; m- 
iBO Hlbl y . « miuui I w ly; s+anUnmoal 


A survey conducted by Catalyst, a New York-based nonprofit 
research group, found that 58 percent of America’s 1,000 largek 
companies had women directors, 1 1 percent more than in 19931 


MEDIA: Tunes Co. Outlines Its Strategy for Expansion Into New Media Metrocall Bids to Buy USA Mobile 


Continued from Page 15 
percent of profit would come 
from print and 25 percent from 
electronic media. 

Last year. Times Co. bought 
the Boston Globe, the domi- 
nant newspaper in New Eng- 
land, for $1.1 billion. At the 
time, some analysts questioned 
such a large investment In the 
newspaper business. 

In addition to The New York 
Times and Boston Globe, the 
company owns five television 


Stations, two radio stations and 
28 local U.S. newspapers. 

The company operates an on- 
line service called Times, dis- 
tributed over America Online 
Inc., and announced Tuesday 
the launch of a new service by 
the Boston Globe. 

Last week, the company said 
it had reached a 10-year deal 
with the Britisb-Dutch publish- 
ing giant Reed Elsevier PLC 
that freed the Times Co. to use 
the contents of the daily news- 


paper in a variety of electronic 
services for consumers. 

“Dearly they need to invest 
more in electronic media, in 
whatever form, as a hedge 


against whatever happens to 
print,” said John Morton, a 
newspaper securities analyst at 
Lynch. Jones & Ryan. 

Tod A. Jacobs, a media secu- 
rities analyst at Sanford C. 
Bernstein & Co., said television 
stations were currently selling 
at high prices. But. he said, the 


investment strategy could be 
prudent for Times Co. if it did 
not pay too much for electronic 
properties. 

Mr. Medenica said the com- 
pany remained committed to its 
newspaper businesses and be- 
lieved that “newspapers have a 
long and profitable future in 
front of them.” 

Lance Primis, the company’s 
president, said Times Co. was 
likely to invest S30 million to 
S40 million. (NYT, Bloomberg) 


ALEXANDRIA, Virginia (Bloomberg) — USA Mobile Com- 
munications Inc. had no immediate response Wednesday to 
Metrocall Inc.'s offer to buy it for $<400 milli on. • 

Metrocall announced the offer in a letter to USA Mobiles 
chairman and chief executive, Janice Fuellhart, saying it' would 
proceed with the offer only on a friendly basis. . & j 


For the Record 


Forschner Group Iml, which says it is the exclusive U«S. 
importer of Swiss army watches. Is suing retail era Wahan Inc. and 
Orris Co. for using the trademark. - ; ’ (Bloomberg) 

I ^ ehm a n Brothers Inc. laid off about 200 employees in its 
trading services division last week, a company spokesman said 
Wednesday. (Bloomberg) 


WORLD STOCK MARKETS 


U.S. FUTURES 


Season Season 
Hfiafi Low 


I Season Season 
High Law 


Open Moh Low dose CSo Oo.lni 


Aqwca Fiance Pram Dec. 7 


Vio Anaciard Pan 


Amsterdam 


ABN Amro HW 

ACF Holding 

Aooon 

Ahold 

AJuoNoMl 

AMEV 

Bob-WettWfiBn 

CSNl 

□SM 

Elsevier 

Fatter 

Gist -Brocades 

HBG 

minmcn 


Hunter DouabB 

iHCCaland 

Inter MwHJer 

inri NMtoriand 

KLM 

KNPBT 

KPN 

Neditovd 

OceGrlnten 

Pakhoad 

PhlHm 

Pal warn 

Robeco 

Rodomco 

R ollnco 

Rarento 

Royal DVKn 

Stark 

Unitovor 

VanOmmeren 

VNU 

Wolters/Kluwer 
EOEtod«ait«10O» 
Prev l o u i : 41 1.11 


sawrtaa 

Siemens 

ThYSSen 

Vorta 

vena 

VEIN 

Vtaa 

VoHawaaen 

Walla 


OoMPrav. 




995 995 

60359050 Gee 
2767027X50 GenlAtt 
308 307 GHBtO 

535-30527-50 Grand AMI 
38437050 GRE 
4602046130 S“fr n * ss 
4245041740 GUS 
987 985 Hanson 

HHHdown 
HSBC HMgs 
M ICI 


Close Prev. 


Helsinki 


Anwr-YMvma 96J0 96*0 

Enso-Gutzeft 3030 38 

Huhtamakl 145 145 

ILO.P. 6*5 AID 

Kvmmane 120 126 

Metro 140 140 

Nokia 696 MS 

Potil Ola 6570 65 

RepOla SSL3S6 

Stockmann 250 240 




Hong Kong 


Brussels 


AlmanH 

Aimed 

Barca 

BBL 

Bekaerr 

CBR 

CMB 

CNP 

Cackerlll 

CaDepa 


Golniyt 
□afhahe , 
Eletirabol 

Electron no 

Farits AG 
GIB 

GBL 

Gevoert . 

Gtaverbcl 

Immabel . 

Kreaieiaank 

iwnane 

Pelroflna 

Powerflrt 

RecUcel 

Royole Betae 

BoeGtii Bimaoe 

Sac Gen Belalaue 

Soflna 

Solway 

Tessendtiio 

Trotiebel 

UCB , , 

Union Min tore 
Weaons Llts 



Lactarake 
Land Sec 
La parte 
Lasma 

Legal Gen Grp 
Liovds Bank 
Marks 8p 
MEPC 
Nan Pawar 
Harwell 
NthWst Water 
Pearson 
P 6 0 
Pllkbiatan 
P ow o rG en 

Prudmtkjl 

Rank Ora 
Reckltt Col 
Redkmd 
Reed Inti 
Reuters 
RMC Group 
Ralls Raya , 
Rottimn (unit) 
Rovoi Scat 
RTZ 

Salnsbury 
Scot Nawcas 
Scat Power 
Sears 

Severn Trent 

Shell 

Stofae 

Smith N eph ew 
5mimKiine b 
S mith (WH) 

Sun Alliance 
Tale & LWe 
Ttsco 
Ttwm EMI 
Tomkins 
TSB Group 
UMlever .. 

Utd Biscuits 
Vodafone __ 
War Loan 3<a 
Wellcome 
Whitbread 
Williams Hdos 
Willis Corroon 
FT 30 lode* : 33 



dose Prev. 
1 43% 44 

T1H llVi 
239Si 24 

7Yb TVS 
18 II 
18 II 
1316 1216 
2114 21 VS 
1214 I2M 
i 24 24 Vk 
38V, 38V8 
c l » Iffto 
194k 1944 
.22 22Vk 
184k W6 
yw 9w 
178k 1714 
40V4 40V4 
18)4 MV, 
27% 28 

16 Vs 1614 
18 174k 
28Vi 29V. 
C 7V, 8 

421k 4Hh 
W4 15% 
78k TV, 
3V, 3*0 


1150 1050 
090 090 
8*0 060 
275 275 

26.90 77 
2-40 2*2 
286 287 
484 480 
358 056 
472 472 
170 172 

14.90 1010 
274 272 


Stockholm 


Shtmazu 
Shine tsu Chem 
Sony 

Sumitomo Bk 
SumltamaChem 
Swnl Marine 
Sumitomo AAeial 
Tabei Corp 
Takeda Chem 
TDK 
Tallin 

Tokyo Marine 
Tokyo Elec Pw 
Toopon printing 
Torov Ind. 
Toshiba 
Toyota 

Yamattiil Sec 
o;jr 100 . 


Close Prev. 
687 690 

1930 1940 
5330 5510 
1820 1830 
572 568 

CJ2 832 
323 324 

600 606 
1231 1250 
4770 4830 
518 535 
1190 1190 
2790 2810 
1430 1430 
711 710 

726 731 

2100 2110 

748 749 


5asson 5 m ion 
i-Sgh Low 


Open MBgn Low Close Che Op, try 


1373 11.18 Mow 96 12*5 1277 12*0 

1172 1173 Jik 96 12*4 1144 12*0 

1150 UOOOdSb 

Esr. sales 1783* Tue's. sties 28735 
Tug's ocen i nt 1 92*62 up 1698 
COCOA (NC5E3 I0mahc«r»-lowwi„ . 


-009 1*23 
—082 1*48 
-002 89 


91570 91 *20 Sip 96 91.980 91000 91780 91870 —100120.9*8 

Est. sales 1,197*64 Tue's.saiB 77U35 
Tup's open kit L77M41 of! 21449 


Grains 


WHEAT (CBOT) unOUu rneinun-OUnanorrUianrl 
4.19*. XC9 Dec 94 X73 X?B 3719, X75 3 . -08T1 1.706 

4J4*i X27 Mar 95 1U"> 1«7U XB7V, 19H» -083J4 41J87 

1WV, 0l6’.lMOy95 171 1741k 071 JJ3'.-, -0,03V. 6*78 

163V. Ill JUI95 3*1 143 Vi 3*1 3*3 *0.07'^ 70461 

3*5 139 Sec 95 147 14W. 3*7 UHYj -08255 627 

175 1*9 159 157V. 159 151V. -OJITa 232 

0541* 125 Jul96 . 038 -0821* 11 

ESI. Sales 10500 Tue'tsti« 11273 






Madrid 


tXSBtoBF 1 '* 


Frankfurt 


AEG 

Alcatel SEL 

Allianz Hold 

AHana 

Aska 

BASF 

Bayer 

Bay. Hypo bank 
Bay verelnsbk 
BBC 

BHF Bonk 
BMW 

Commerzbank 
Continental 
Dataller Benz 


Johannesburg 

AECI 
Altech 
AnetoAiner 
Boriows 
Buffets 

Gencor 
GPSA 
Harmony 
HtahveW Steel 
KlOOf 

NedbankGrp 
g gnt Han le l n 
RusMot 
SA Brews 
5asol 

Weftern Deep 

tmssii‘:Sssi mM 


BBV 347S 3465 

BCO Central HHn. 3050 iota 
Banco Santander 5320 5370 


Banesta 

CEPSA 

Drasados 

Endesa 

Ercros 

Iberdrola 


Tobacafera 
Teleton ka 
Stock ExtiM 


955 W4 
3135 3100 
2005 2035 
5990 6010 
149 152 

885 885 

3825 3860 

3790 3900 

1700 1700 


1 Accor 
Air Liquids 
Alcafel AMlnim 
Am 

BoKalre ICJe) 

BIC 

BNP 

BOUYBWS 

Danone 

Carretoar 

CCF. 

Coras 
enamours 
aments Franc 
auto Med 
EK-Aau Koine 
Euro Disney 

GeaEoux 
Havas 
I metal 

Lata roe Caaaee 
Lkorond 
Lyon. Eoux 

mw 

Matro-Hadwtte 
MKheltn B 
Moulinex 
Por ibo& 
Petiilney inti 
Pe mod- Rico rd 
Peuaeat 
PlnauK Print 
Radtotetimfque 
Renault 
Rh-PoutoncA 
Raff. SL Louis 
Sanofl 

Sain! Gobaln 
SJ0B. 

5to Genrrnfo 
Suez 

Thomson-CSF 

Total 

LAP. 

VBton 


566 

568 

663 

644 


AGA 
Aiea AF 
Astra AF 
Alias Copco 
E lectrolux B 
Ericsson 
EssSHoA 
Handei5bank BF 
Investor BF 
Norsk Hydro 
Pharmodo AF 
Sandvlk B 
SCA-A 

5-E Banken AF 
SkondlaF 
SkonskaBF 
SKFSF 
Store AF 
Treltobaro BF 
Volvo BF 

S85SS? 


MBME 


Toronto 


Amcor 

ANZ 

BHP 

Boral 

Bougainville 
CoSes Myer 
Comal co 
CRA 
C5R 

Festers Brew 
Goodman Flew 
ICI Australia 
Maaeltan 


Sydney 

085 089 
095 am 
1886 19J4 
388 3*8 
villa 080 082 

rnr 4.13 418 

1 4.97 5 

1784 IB 
4*3 4*3 
Brew 189 MO 

n FteW 1.12 1.12 

ralla 11.10 11.10 

* 180 180 

2+2 284 

IBank MU* 1086 

TP 492 SJ05 

n Hill 017 013 

lop 381 383 

inri 018 122 


Maaeltan 180 180 

MIM .282 284 

Nat Auti Bank MUH 1086 
News Core 492 SJB 

N Broken Hill 017 013 
Pac Dunlop 381 383 

Pioneer InM 11B TX! 

Nmndy Poseidon 180 182 
Publish]) BTdcsto 3.1? 120 
OCT Resources 183 183 
Santos 044 3*0 

TNT 288 ZM 

Western Minina 7*5 7^j 
Westoac Banking 429 4*3 
VIMOdSWe 4*8 478 


Tokyo 




London 


Abbey Non 
Allied Lyons 


Dt Babcock 
Dflulsctxr Baik 
Douglas _ 
DreadnerBonk 
FeMmwfile 
FKrunp Hoescfi 
Homrwr 
Honkel _ 
Hochtief 
Hoetict 


ArloWtoglns 160 
Argyll Group 2*7 


Ass Brit Foods S-53 

BAA 480 

BAe 434 

Bank Scotland 288 

Barclays 098 


Horten 

IWKA 

Kan sou 

Karstaat 

Kaufhof 

KHD 


8» 845 
206 306 
319 325 

1648016030 
54980 549 

43M9 442 
1103011380 


BAT 

BET 

Blue arete 
BOC Group 
Boots 
Bawater 
BP 


KkMcknorWerke W 127 

Unde M9 S89 

Lufthansa 1928019380 

MAN 40340180 

ffitasnesnw™ 401^ 404 

Metal KlWHI 1245013480 

Muench Ruecfc 
Porarite 
Preussae 
PWA 

RWE 45W0 453 

RftetomefoM 274 271 


2fl M 7R25 
647 660 
431 433 

33122780 
451.90 453 
274 270 


Brit Airways 082 

Brit Gas 004 

1 Brit Steel 180 

Brit Tele c o m 076 

I BTR 287 

Cable Wire 071 

CaOwrvStii 410 

G ei adon t a 

Coats VWella 2M 

Comm Union 5JM 

Courtoirfds 430 

ECC Group 035 

Enterprise 011 3.73 

Eurotunnel L50 

Flsons 1.13 


Aileanza 
Assitalla 
Autastradepriv 
Boo Agflcofiura 
BaaCommer Hal 
BcaNazLavoro 
Bca Pop Novara 
Banco «fl Roma 
BcoAmbrosiano 
Bee Napoli rUP 

Benetton 
Credrto ItolloDo 
EnltiiemAoo 
Ferfln 

Flat spa , . ■ 
Flnonz AtffoJnd 
Fbimecoantco 
FondlarlaSPd 
Generali Asstc 
IPIL 

ihitaenwih 

Italoas 

MedtatwnoD 

Montedteon 

Olivetti 

Pirelli soa 

HAS 

Rlnaaeenle _ 

San Paolo Torino 

SIP 

SME 

Sniabod 

Slanda 

Stef 

Toro AmIc 



Sao Paulo 

Banco do Brasil 17.« 17*0 

BMWSfO 1I8E' WJ8 

grodesco TWO 7M 

Brahma 288 289 

Cemia 8 781 .88 

Eletrobras 301 297 

3340134002 


Akal Electr 
AsatH Chemical 
Asahl Glass 
Bank of Tokyo 
Bridgestone 

ante* 1280 1300 

Doi Nippon Print 1700 1710 
DcJwa House 1 390 1410 
Doi wo Securities 1370 im 
F onuc 4SW 4630 


385 385 

718 722 

1200 mo 

1510 1520 
1540 1570 
17» 1750 
1280 1300 


Pehobroa 

Sauza Crux 

Telebraa 

TeteSP 

Usiminas 

Vote RloOoce 

Vorto 


8781 88 

301 297 

245 240 

3340134002 

15 15 

11680 110 
780 780 
40 3980 
390 375 
185 183 
154 155 
3 3 


Brasa^"" 1 


4590 4630 
2060 3090 
awn 2240 
1010 1030 
977 987 

785 791 
1720 1730 
5240 5370 
691 703 
710 712 

815 849 

2400 24U 
409 411 
1050 1060 
901 924 
714 7» 

7410 7430 



Singapore 

AaloPocBrew 15*0 15*0 

CHvDeUlopmnt 7*0 785 
Cgje B Carriage {020 1280 

DBS Land 

fe Levlnaston .w m 
F raser & Heave 15*2 
Gi Eastn Life 2780 7JM 
Horn) Leans Fin 41? 41? 
IIKtKOPe 498 585 


Jurors Shipyard 11-20 .11 
KavHlan JCapel 182 18? 


KavHlwiJi 

Kippel . 
Nutsteei 


11J0 1180 
286 


sssisS". iS 'ft 


Montreal 

AtOO LW 1 Mlt 1498 

BankMontreol KH 25W 


O^eos Union Bk 6J0 660 

OV* os Untan Ent 7JH 
Sombavwng 1010 18*0 

Slnie Slmasora 1^ 1^ 

Sins Aerospace 380 288 


Fu l Bank 
Full Photo 
Pulttw 
Hitachi 
Hitachi CaWe 
Honda 
ItoYokada 

itocmi 

japan Airlines 
Kallma 

Kansol Power, 

Kawasaki steel 
Kirin Brewery 
Komatsu 

Kubota __ 

Kyocera 7512 7SS 

Matsu Elec inds 1590 1590 
Matsu EtecWks WO W» 
MltSUbHhl Bk 2330 23 10 
MltsubOwmlcai 548 K3 
Mitsubishi Elec 701 713 
Mltstodsh HW 737 750 
Mlteublstil Corp 1290 12« 
Mitsui and Ca M 

Mitsui Marine 
Mltsufcoshl 
Mitsumi 
NEC 

NGKInsutetors {««> 

Hikka Seojrittos 1060 1100 
Nippon Kaaoku 940 951 
Nippon Otl 
Nippon Steel 
Nippon Yusen 
Nissan 
Nomura 5ec 

■ITT 

Olympus Optleol "Uli'iai 

Pioneer 2300 3380 

Ricoh 

Sanyo Elec 
I Sharp 


Abittbl Price 
Air Canada 
Alberta Enerov 
Alcan Aluminum 
Amer Bar rick 
Avenar 

Bk Nava 5calla 
BCE 

BC Telecomm 
BambanBer B 
Bra ma lea 
Braacan A 
Camoco 
CIBC 

Cdn Natural Res 
CdnOctid Pet 
Cdn Pacific 
Cascades Paper 
Comtoca 
Consumers Gas 
Dofosco 
Daman Ind B 
Du Pom Cda A 
Echo Bay Mines 
Empire Co. A 
Falcon brlcse 
Fletcher C hall A 
Franca Nevada 
Guaraion Cap A 
Hernia Gold 
Horsham 
imperial Oil 
inco 

l PL Enerov 

Lakllon A 
Laldlaw a 
Loew o n Group 
London InsurGo 
Mocmll! Bloeot-l 
Magna Inti A 
Matie Leaf Fds 
Moore 

Newbridge Netw 
Noranda Inc 
Noronda Forest 
Norton Energy 
Nthem Tetecom 
Nava 
One* 

Patro Canada 
Placer Dome 
Potatii CornSask 
Provhoo 
PWA 

Guebeoor Prim 
Renaissance Env 
Ria Alaam 
Seaoram Co 
S tone Consaid 
Talisman Eny 
Tetealotoe 
Telus 
Thomson 
T orD om Bank 
Transaiia 
Transcda Pipe 
UM Dominion 
Utd Westburne 
Westcoast Env 
Weston 

Xerox Canada B 



Tue’sooenlnt 64802 tit 249 

WHEAT (KBOT) umbunMmunviManiwrliuaw 

-123k. 012*1 Dec 94 099 402 W 098 'A 481 *086 7M0 

027'/* 125 Mar 95 3-88'* 098'* 384V* 092 *QJM 22.S37 

JJD 021'/»May95 X75 075 W 075 07616-001'* 2,932 

068V, 016'AJuI95 047V, 052’/. 147V, 3J0V, -0OH* 4493 

077 029 Sea 95 155 055 054 054 -103 IM) 

069W 352 Dec 95 _ 061 +083 17 

Est. safes N-A. Tin's, safes 4831 

Tug'S Men Int 32,242 UP 335 

CORN (CBOT) S80auimMniuii>-aB4arap*rBu9M 

U! Z10VtO0C94 2.134* 0174* 0134* 014 +08K* 7830 

282*5 02OWMOT9S 124 ZSITe 026 038V. +082 110894 

0U 028 Mov 95 283V. 288 283V. 036K +082V! 40536 

285Vj 032Vi J ul 95 28Bta 2*31* 038W 2*1tt +08241 46,932 

07015 288 S«95 2*3 2*6 043 2*5^5 -UH’A 4,983 

063 285 55 Dec 95 0464* 2-50 2*64* 2*F6 -002V. 24,181 

26DW. 049V,Mor96 3-5315 256 2-53V. 2J6 +082 !.25» 

067 0551OJUI96 281 283>* 281 283 -0.02 1.778 

Est. sties 75800 Tue’s. sties 47 jm 

Tue'iopaniiv 237.753 tit 1014 

SOrneANS (CBOT) j8nHumA*num-i»earaDarliuUM 

784 587 5* Jan 95 5871* 583 587V. 589 +08I1A 47,539 

785 5*7V.Mor« 587 5.72 586W StS'M -aOlV. 30949 

785VS 58* MOV *5 5.74 079'* 074 -0JHM 1L705 

786'V 583 15 Jut 95 SJ9Va 584 079 580% -081V. 25.744 

6.12 586% AUD 95 561% 585V. 581% 58246-0.01% 0137 

4.15 071 5*p 95 5-83 V. 066 093V> 583 Vi +081 1 JIA 

AJO’/j 578V* Nov 95 S69l> 0941* 0B9h 09195+082 11891 

6.14 095 Jan 96 680 681 fe 699fe 69B'6 -0J»fe 110 

617 182 fe Mar 96 WJ5fe*1)8lfe 23 

686 5T9feJul96 6.13 015 012 012'4 + O.OIH 65 

607 584 NOV 96 681 +003 124 

Est. safes 36800 Tlfe'6 sola 26819 

TucrsopenW 138*03 up 213 

SOYBEAN MEAL ICBOT) ■■fens. Mari pp Ian 

1H.10I»C»4 15670 1 5600 15670 15050 *0.90 *84 

707-50 155 50 Jan 95 15610 15750 15610 15670 +070 31.764 

20750 19>80 Mar 95 14020 16180 1 60.00 1*050 -0.60 27*70 

207.00 16350MOV95 1*3.90 16020 16380 164*0 +050 11168 

20600 1 604) All 95 1*9.00 17080 16090 169*0 -0*0 102*4 

182-60 17050 Alia 95 17180 171.90 17180 171*0 +0JD 0990 


1580 1041 Dec 94 1265 1Z65 

1605 1077 MOT 95 12*3 1276 

1612 1073 Mav 95 1283 1286 

1600 IZteillte 1300 3301 

1560 l295Sep95 1313 1320 

1633 1290 Dec 95 1338 1345 

1*76 1550 Mar 96 

1642 1225 May 96 

1505 14V:.M96 

1531 1520 Sep 9* 

Est. safes 11.254 Tub's, safes 6,192 
Tim's open bn 77816 up 660 
(MANGE JUKE (NCTN) 125004a.- 1 
13280 0980 Jan 95 110.00 111*3 

124.25 9380 Mar 95 113J0 11485 

12465 97.CC Mav 93 11035 1T7JS 

12750 10050 All 95 119J0 119.50 

1X85 107.25 Sen 95 12000 12380 

129.00 109.00 Nov 95 

12980 KB50 Jon 96 

13080 12025Mtr46 
Mav9* 

Est. safes 0000 Tue's. sties 4.949 
Die's asm bn 26*13 up 067 


1ZA5 1265 
1276 1250 
1286 1272 
IXI 1290 
1320 1313 
1345 133* 


+ » 264 

+ 10 40736 
+3 10476 
—I 4,161 
—I 1,747 
+ 1 3.196 
+ 1 7804 
+1 3844 
+ 1 2816 
+1 70 


Tint's op en bit 0774*41 oil 21449 

DRUISH POUND {CMER1 uwMm-lPSfentiiunr 

16436 1*500 DK 94 15610 1-5608 15573 15652 -32 438*6 

16440 1*640 Mar 95 15660 15680 15*14 15650 +32 28830 

18310 15343 Jun 95 15650 15670 18600 15*64 *28 1© 

Est. safes 21832 Tub's, sate 2M31 » 

Tue'saaenlnr 72635 up is®M 


CANADIAN OCM-LAB (CMBH) ipwp*- 1 pofel— whf0MOl / 
07470 07D38DBC94 0.7275 02291 0J233 07236 —47 U jlT* 
07605 02m Mar 95 07277 02277 07233 07236 —49 I486* 


111*3 10985 
1U25 11075 
117JS 11000 
11950 119 JO 
12380 1Z38D 


+0*5 118*5 
+050 7800 
+035 1845 
*010 1866 
-0.10 0143 
-MS 1.560 
-OJED 536 
-JJ0 10 
—150 


07605 0-7020 Mqr 95 07277 02277 07233 07236 —49 I486* 

07322 06990 Am 95 07260 02260 07230 02232 -51 18M 

07438 06965 5«P 95 OTZB 02X0 02225 07225 -53 577 

02400 0704) Dec 9J 07215 07235 07220 02215 —55 Jr 

1 ptintHUBtosaeom v 


06731 0.59® Dec 9* 06341 

06745 OJBlOMarSS 06382 


06J« OJ980JunV5 0MI9 06435 0MQO 06421 ... 

^.°^12? P ?_ IU445 0JA45 Q645T tIS Tis 

Eti.satos SSJK Tup's. safes *4847 , 

Tun's acen mf 114651 off 4495 J 

iAPMKSEYEN (CME8) iptryw-ititiwiaiaitigai < 

oil 05«0-oo96eQAAar 95 0-01 01 Q50-tn ot eoa-Qi oti7*0-ai oi i« -i* 338*4 
°^M7mOW 77 6Ju n 95 08102550811125500102140810*45 ♦ 17 185a 

0010373 +1B 7U 

0810502 +19 U2 

0OH»3O0DllB4®l,%ar9a 0010631 +90 ‘31 

Ed-sotes -arm Tu e-oities 37,195 . 

VH&Sl'E- 741 < 

FWAHC (CMBU tpr iranc-lwHuuflamaH ' 

M39? o^awDacw 07539 O-7570 07525 0.7541 +s 47^79 


» ■ 'hdf** I PINU BdUODI YUJJWI A 

06390 06354 06374 -15 44,940 

06404 06370 06390 -14 38*99 

(UCS 06400 06421 -15 1 Mi 

06445 06445 Q64J1 -15 U9 


Metals 


HI GRADE COPPER (NCMX) ZUXN hs-crait 
139*0 7075 Dec 94 13X95 134J0 13190 

134.90 7650 Jan 95 13140 132JD 13285 

135JW 73J10 Feh 95 724J0 13180 13045 

13480 7X00 Mar 95 129.70 130*0 12080 

13180 9I.10APT9S 12680 12/80 12*80 

12080 7465 May 9 5 12580 12060 12480 

12480 ID4.10Jun95 

125J0 7JJ0 Jul 95 121.00 12150 12080 
12000 11160Aua95 

ra.ro 79. 10 Sea 75 71675 11780 114*0 

115J0 11X00 Oct 75 

115.75 ram Dec 75 I1180 NUB 11180 

111.70 009JJOnV6 

112J0 62. 70 Mar 96 10780 107 JO 107 JO 

109-50 10780 May 76 

107-30 10X50 Jul *4 

10X25 10585 Sep 96 

J1X9S 11X94 Nav 96 

Est. safes 8800 Tub's, sales 7*07 

Tub's eoen bit 52.106 aft 16 


—095 7657 
—1-50 1677 
—1*0 827 

— 1*0 28897 
—185 691 

—180 2,947 
— ijra 

-1-30 3872 
—180 

— 1J0 1629 
—185 

-18S 
— US5 
—185 
-185 
—1.15 


06108 06085 UBC 94 07539 07570 

* L7SM 0JUS 

08165 071 93 Junes 

00155 0*791 SEPTS 

Eti. sales 27.688 file's, safes 27631 

Tug's roan Int 63855 up 1407 


07525 0,7541 
073*2 0-7577 
07630 
07686 


Industrials 


gRTTONS (NCTN) SMto-amwA 

®-g0 4*9 Dec 94 82.50 0480 82.50 8427 

g86 62 W Mar 75 8385 0425 8385 B4U 


- JMayM 0X50 B4« 0X30 8435 

« JO 8^95 BX50 0400 0.10 8X92 

6*60 Oti 95 7400 7445 7480 74*0 


*4JSDec9S 7160 7130 7160 7235 
MJOMcwM 7260 7X80 7260 7X90 


WOK) Ufebpifat-ewbireriroyc 
mg Dec 94 4640 4MJ 4605 


7400 7400 May 96 

EB. safes 1X500 Vue's. 


1BZ2D 17Z60 SOT 95 1/XIB 17400 17X10 17X40 +030 1.5SS 

1B160 174-50 Oti 95 17X« 17680 17110 175.10 -010 5*15 

10120 17480 Dec 95 17000 179.10 17000 17040 -0*0 3836 

Jan 96 17980 +030 1 

Est. sales 17800 Tue-s. safes 1*825 
TUB'S open int 1047*5 oft < 

SOYBEAN OIL (CBOT) UAM Is- aoBori on 100 (a. 


29J5 27.00 Dec M 0.73 29*0 2080 2086 -020 12+10 

2055 2265 Jm 95 27 JS B - ,a 73 M -40 35,™ 

2888 2X91 Mar 95 366* 37-35 26-57 2470 -003 20841 

2005 2265 May 95 2565 2485 2560 25.77 19.170 

2765 2X7* Jul 95 2405 25.20 2462 25.07 *009 II, » 

27.20 2X73Aup95 2460 2490 24*0 2470 + 087 2821 

2475 22-75 Sea 95 2450 2455 2430 2430 2832 

2460 2X7500 95 2410 2445 2410 2680 + 004 X974 

2465 2260 Dec 95 1400 2415 2(80 2410 +023 56*7 

2415 2X25 Jm 96 2X70 +010 B4 

Est. sales 23800 Tub's, safes 2X925 
Tub's aaenirt 120.677 alt 2233 


Livestock 


CATTLE (CMER) 4*6oa bs- eanu o«r B. 

7480 6475DDCM 6015 4037 6783 6027 

7425 6447 Fab 95 M8 2 6027 6765 M.T7 

75.10 6787 Apr 95 69.10 69*0 6965 4985 

69-30 *400 Jun 95 6437 6465 

6010 6X50 AuO 45 *285 6X95 6?J0 «2. 73 

67-55 6X100095 6X65 6170 4X50 6X50 

6485 *365 Dec 95 6485 *430 4400 6482 

Est sties 8832 Tub's, safes 10833 
Tub’s acm ml 70555 pH 455 


♦ 082 11874 
+047 27876 
+045 19.118 
+000 6850 
♦012 0589 
+088 1.147 
+010 101 


8095 71*0 Jan 95 TJJfi 7X35 710 714ft 

8025 7015Mar95 71.15 7180 7180 71.12 

7490 69.95 APT 95 7045 70*0 7037 7087 

7680 6980 May 95 4J85 4960 6*85 4982 

73-05 *985 Auo 95 7010 7020 7005 7015 

69 70 68.7500 95 *980 *940 *980 *«.6D 

71*0 4980 5m 96 4985 

Esi. safes W» Tub's. sties. 1JHS 
Toe's open Int 07(0 up 141 


+020 48» 
+085 2 AD 
+012 1839 
+&SS 4B 
♦ 015 217 

+0* 34 

♦015 U, 


57*8 4010 Jan 95 

Feb 95 4750 4780 4710 

6040 4148 Mar 95 4740 474.0 4448 

*0*8 41 0-0 May 95 4790 4018 4716 

«0OAU95 4078 «R0 4708 

60X5 477 8 Sep 95 49X5 49X8 4378 

420.0 4)56 Dec 95 5040 5040 49X0 

4110 5T40 Jon 9* 

62X0 4900 Mcr 96 

5990 4990 May 96 

i *008 snojuiB* 

5ep9* 

Efl. safes 13800 Tue'x safes 20800 
Tub's open ini 

PLATWIH6 fNMER) J0wy«.-ptibni*r*p 

39000 39019 Dec 94 

43580 37400 Jan 95 40X00 40400 40X00 

439.00 39000 Acr95 40000 09.00 40680 
43980 0980 jm 95 41380 0380 41380 
441 JO 413800(5 95 

43980 42000 Jan 94 

Eti. sates X5M Tub's, safes UK 

Tub 's open W 27.994 off 209 

GOU) (NCMX) iDQtnvac.. ac4Mrspcr«m>BL 

«J0 30.00 Dec 94 37780 37780 37X10 

10080 37980 Jm 95 

41180 3190 Feb 95 33000 31050 37010 

417.00 3*4^ Apr 93 31430 21430 3B2J0 

43050 36180 Jun 95 348-70 3B07D 38470 

41491 3B05OAug9S 39X00 39X00 39280 
419 JO JOl-XOd 95 

42900 379 80 Doc 9S 401 JO 40X30 40020 

£480 40480 Fob 94 

43020 410JC Apr 96 

43180 41380 Jun 74 

Aufl 96 

_ 009* 

ESLSties 20KB Tmr4S0MB,22JPn 
Tue s open Int 180619 up 745 


—1.1 1,2B5 

=1:1 " 
—1.1 01*94 
—1.1 0854 
—1-0 7-344 
—1.0 9*29 
—18 15*80 
— >8 

-18 784) 
—18 

—18 1*06 
—18 


Tub's opon In 54*71 up j 
HEATING OtL fNMER) aj 
<3-25 4125 Jan 95 4425 


*7M S3 
♦183 31,® 
♦ 160 108ft 

*060 Ito 
+055 *1*9 * 
+077 TS7 
+075 ^ 


4780 Fod« 4780 4885 46.90 4032 
C80M«95 47 JO 49.15 47 JO *87 


4780 AM 47-40 AX? 
47-« 4015 47.* <7.97 


OM 48.00 <760 4762 

®'®6 J I95 47_M <0* 47 JO 4002 


42J0Auu 95 4025 4090 4010 *82 

fiKl " ** 3 

5090 Nov 95 5V7J 

2 -S slh 

if 


+03S 51*ff 
♦ 029 34.SU 
+DJ3 17.jS 

+018 VfJjJj 

+0-13 78ft 
+ai3 7JK : 
+013 7 A47 
♦013 ian 


*180 1 
+180 14^23 
*180 70872 
-180 1,914 
*180 518 

*180 14 


ti'A m 

+013 T8S7 
♦013 S M, 
*0.13 Mp 
+0.13 S< 
*013 <330 

+0,13 J6 


SL00 Fob 96 
52*0 Mar 98 
4480 Apr 94 


fSt-tateS 44.602 TUB’S. 


Tuo-s oponW 150730 i£wS 


1S38Feb95 1683 1780 1045 
XCMarW 16*2 17.02 1057 {fcfl* 


*030 2J0* 
*010 

*010 91 J00 

*010 14.121 
+010 207*7 
♦010 
+ 010 

+ 010 9*62 
♦010 1,970 
*010 2846 
♦ 0.10 
+020 
+0J0 


'iSA«-95 1074 17.12 1070 7J5 

1464 17.15 10$ 7.1] 


1X73 Jun 93 1091 )785 tun 7,7 

»-2S tOO 17J3 


mtzi ™ m m 


l«*20ti« 17J0 1787 17jS « 

u-a 3^ 11* 


1050 Doc 95 17J4 1 7*8 


1780 17J4 UJD 

UM 17^ 17^ 


Financial 


3040 Dec 94 JU5 3185 3060 3065 
34.02 Feb 95 35.55 358S 34J5 3580 


3S85 Oar 95 3685 34*5 3X9! 3685 
4085 AW 95 4185 41.77 41*0 41*5 


WIJM" 


4L45JUI95 4160 4167 41*0 4160 
40.60 Aug 95 4187 4167 41 AS 4180 


30X10095 3987 3967 3985 3*^ 
3980 DUC 95 41^ 41*5 41 JO 41.37 


Zurich 


4i80Feb94 4100 4100 4280 4280 


Ed. solas 5,141 Toe’s, sties 9874 


—040 1570 
—407 15.151 
7891 
—025 4,19! 
_aja sc 
-087 1885 
+ 085 907 

+ 007 229 

—005 43 


US T. BILLS (CMER) ti nfefan- p*. ti NO «t. 

96.10 94.|j&ec«4 9A® '.'3-40 9486 UM 3639 

1X05 9X25 Mar 95 93*4 9386 9X32 93*4 -0D1 J7JT9 

9484 9X75 Jun 95 9X98 9X81 9262 9X90 -002 3464 

9157 9XS)5n9S 9X61 -082 91 

ES. sties 7664 Tub's, safes 7.928 
Tile’s open Int 74,974 up hid 

5 YR. TREASURY (CBOT) MHUWOnrh-pfehXMtWHaH, 

104-20 100-02 Dec 94101-035)01-035 IDO-225 100-27- 10 S2J93 

183-09 99-15 WOO-1 05 100-20 100-035 100-005- 11 lSn< 

100-00 49-06 JU19510O-Q6 100416 99-20 99-39 — II 259 
99-07 99-07 Sep 95 99-M — 11 2 

Est. sties 92800 TuTs-saa 8X983 


J017 1761 Apr 96 

1082 I &32 May 96 

3M5 its Junes 

»B*7 17.9BSBPH 

SUM . 17*0 Dac 96 

eb. safes 129*00 Tue*x safes BS*u 

TWsrosnlnt 412*64 tit M47 


riHnnrnr 


— 007 83*01 

-am TSMh 

—003 4XTT! 

uni izj«} 
—002 148X6 
-001 304$ 

=§51 W 

-001 7.T30 
-081 10.1*6 
— 0OT 9835 
-082 2J79 

=£§ 

r — 0JJ3 4JWR 
—003 109ft 
—004 IM? 
—086 


AdiQ Inti B 224 Z2S 

AlusuKsa B (tow 6M 637 
BBCBnnnBovE 1120 1119 


Tue'sooenM HJ11 eft 784 

PORK BELLIES (CMER) 48M lot- camp* ft 


Tub’s ocenW 206,540 up I47B 

lira. TREASURY (CBOT) I'flSAtaprtv ttnfttiioon 

114-71 99-02 DOC 96 1 01 -0Q 101-01 100-18 100-22- SI 


5095 <98 

6030 527 

5070 St 4 

5020 5X9 

S-S 

5035 5X2 

£3 "J 

SS80 506 


EMS® S38 s H 

gftMmrgSSLl, 5425 51! 5 H 

g^Juin 5195 ax ass 

Iljnnr-rS 53.13 


51800095 

5065 Nov 95 

5070 Doc 95 


2080A«a96 
30197 IWl 


733 732 
983 990 
1440 1450 
1150 1180 
998 1010 


671 676 
374 373 

051 053 

021 830 

2040 2090 


M5 952 
578 585 
1770 1720 


CRw Gefgy B 769 770 

CS Holdings B 536 541 

Elektrow B 338 340 

f isehw B 1520 1520 

Interdiscount b 1640 174Q 

Jelmall b 740 7X 

LandteGvrR 735 725 

Moevenplcfc B 445 450 

NSSJIOB 1245 1245 

0*r! Ik, BuetirtoR 12050 12680 
Pareesa nhb uss i«sb 

Ftedto Hda PC S810 5773 

Sotra ReauM* 11) uj 

Sanaa: e 70S 70S 

Sdilndler B 7500 7400 

SvlaerPC 872 870 

Survtillfflice 8 I860 I860 

SwteBnkCoroB 3bl 370 

Swiss Retraur R 754 787 

SwfeaalrR 795 B00 

UBS B 1122 1134 

Winterthur B 680 675 

Zurich Aas B 1270 1268 

SBC Indeii 9H.13 
previMK ; 91LS7 


6005 JS. IS Fob 95 36*0 3060 35M 3U0 

6070 3580 Mar 7S »75 M.90 3030 »J0 

61.15 36.90 May 95 37.95 38 8! 3780 

5480 3780 Jul 95 3985 30M 

4480 30 70 Aug 95 3010 3130 3780 B.W 

4785 39J0FeB96 

».» 3980 Mir 96 47.97 

ES. sties 1,912 Tue's. sties 3,731 

Toe's ooen hit 10*96 


—035 7.954 
*088 1*17 
+010 519 

♦002 418 

+015 178 

♦ 027 9 
+0S7 I 


114-71 99-02 DOC 94101 -00 101-08 100-18 100-22— 31 74J79 

m-® 98-11 Mgr 95100-30 100-31 99-25 1 00-00- 20 300838 

105-32 97-27 Jun 95 99-30 99-30 99-14 99-18 - X 777 

101-06 97-11 Seats 99-® - a 9 

110-31 96-30 Dec 95 94-31 - a |g 

Eti.saes .177,777 tub's. sales 15LI65 


“esfi 

MB 

+043 US 
+0.4) « 

+0« .599 

+aa a» 

*0*3 


Tub's Boon Int 77017) oH 16341 

S*!S EJgC W10(M» 100-06 9945 99-17 — 35 1Q5JB1 


5810 5775 
m ui 
70S 70S 
7500 7400 
872 870 
I860 I860 


795 B00 

1122 1134 
680 675 

1270 1288 


COFFEE C (MCSE3 17 
24025 77. 10 Dec ?J 16140 16580 161« 

21480 709OMIT95 16030 16085 1*480 

244*6 BJJBMOV9S tf0« 166*0 

345.10 BiOOJlH95 17OJ0 I71K 16000 

23880 l6i«Seo«S IJHO 174JD 6960 
24X00 01 JO Dec 95 JW |70« 

703JD 16SJ0MOTM 17X00 17300 172-75 

Est. safes XSjO^^LStia S-** 

Tub's open int 29.9M j* JL1 IJ . 

» issyis B 
h sfi&% a its a 


—180 154 

-060 17*10 
-030 4,9* 
-1*0 X6® 
-075 U43 
—1*0 1.1BS 
—1.75 233 

— ZJ5 


-010 98839 
-0® 38*25 
-009 9X943 
—006 3X3M 
-009 6,102 


11 6- 70 95-13 MOT 9599-33 99-23 98-17 98-29 — 26 31XM9 
115-19 94-27 Jun 95 99*12 99-03 98-04 W^IS _ " i im 
113-15 94-10 Septs 90-01 98-11 9000 to* 6 - n os' 

113-14 2*27 Dec 95 98-00 W-OI wS SS - S » 

14-0* W-13 Mar 96 97-28 97-28 YT-U 97^8 - X « 

100-31 9M6 Jun 96 97-23 97-73 97-S 97-S - S V 

98-14 93-OS Scr 96 97-17 97-17 97-16 97^16 - 30 8 

™ J1 ‘ J* 

Tu£j»ni‘nt_H.JM Ofl 721 

•«MM+«ei a nooaa 

915M 90MnS£« S^SS SUS &“ «*« +2005,936 

9«™ S'K n - m -20490JJ7 

wSo ««nv2« «tS 8 2-?S 5-1™ ^340 -7037X00 

WMn 5'IS 71 -® 0 91.980 -6036X6M 

9025 9II80Oec95 91010 91060 91*80 91 750 —70196,804 

*!-®2 *** 9, 770 —100172*51 

13181 9 ■ 670 Jun 96 91.930 91,930 91.7* 91J20 -100130915 


Stock Indexes 

S0PCOMP.INBEX (CMER) snotfe*. 

asm SBn » 

,ouis *** '• 

HS&SS}!? T^lN UP 1388 


Commodity Indexes ^ 

2.T71 M Ji379Jtt 

DJ. Futures 10M,® 

Com. Research oww 

727.99 




NYSE 


£5 — 

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** 



LM bKiNATIUNAL HERALD TRIBUNE, THURSDAY DECEMBER 8, 1994 


Page 17 


EUROPE 



.ssets 

Going on Sale in 
New Rescue Bid 


fort 


ourt 




■'larlf 


d\\i 


itbBii 


‘ — Iberia wfll put 

L i most profitable assets up for* 

sale tony to avoid bankruptcy 

a spokesman said Wednesday 
as the aidme’s managemem 
prepared to meet with unions 
y ***** said it would contract 
. several international invesi- 
meat houses this week to begin 
. 4BC sale. The assets include the 
domestic airline Aviaco and the 
, charter carrier Viva Air 

5 er 4 , l route between Ma- 
• ™ ^ narcelona and its han- 
dnng operations are also amone 
its most profitable operations 

Management was scheduled 
i£ J“ ee j with unions late 
Wednesday to explain its emer- 
gency plan. 

'■.The carrier’s management 
gave the go-ahead 
?ucsdfiy for the plan, which, in 
'addition to the assets sale, calls 
•for cutting the work force by 20 
percent. 

Unions warned managers 
they would stage more strikes if 
the plan is put into effect 
•” , fbey plan to go ahead 

with these cuts, they can expect 
a correspondingly strong re- 
sponse from unions,” the Gen- 
: era] Workers Union leader 
Candido Mendez, said. 

The previous attempt to save 
■fhe airline collapsed Monday 
when pilots rejected manage- 
ment proposals for a 15 percent 
-pay cuL Other unions repre- 
senting 95 percent of Iberia’s 


Soft Market for Solid Russian Issue 

Chocolate Factory’s High Standards Don’t Aid Stock 


By Alessandra Stanley 

Sett York Tima Service 

MOSCOW — Business, like love, is 
blind. One of Russia’s best-known and 
most respected companies, the Red Octo- 
ber chocolate factory, offered S22 million 
in stock this week ~ the first Russian 
company to raise equity in a way that 
meets Wall Street's bookkeeping stan- 
dards. Yet few investors were smitten. 

Within Russia’s murkv transition to a 
market economy. Red October shines — 

a beacon si gnalin g that soil*- publicly 

traded Russian companies arc ready to 
play by Dun & Brads tree! rules. But it 
has also fallen victim to a callous rule of 
romance: High standards and a good 
reputation don't necessarily bring love. 

“Let’s face it, foreign investors do not 
come to gamble on the Russian market 
to earn 10 percent or (5 percent returns,” 
said Jeao-Louis Tauvy, a French banker 
who manages the Kaltchuga Investment 
Fund in Moscow. “They come for die 
dream of making 300 perceat or noth- 
ing." Western consultants, he said, had 
“lost sight of the Russian context" when 
they adopted Red October as an experi- 
ment in Western-style equity financing. 

“There are so many companies for sale 
in Russia at far better prices,’' Mr. Tauvy 
continued. “We considered buying Red 
October but decided against it. Beside*, 
Russians mainly seem to be eating Mars 
bars and Snickers." 

Or, as Bernard Sucher. manag ing di- 
rector of the Russian brokerage firm 
Troika Dialog, put it: “You’ve got to 
love Red October to buy iL” 


Despite the company's exemplary ef- 
torts to enhance its credibility on the 
international market, he said, he could 
not coax his clients to buy shares in the 
chocolate factory. 

Russian officials and Western consul- 
tants wanted to make the former model 
Soviet factory, named for the Bolshevik 
Revolution of 1917. a paradigm for the 
nuaceni Russian stock market. Red Oc- 
tober was privatized last year and turned 
ovct to worker ownership amid great 
fanfare. U.S. Treasury Secretary’ Lloyd 
Bemsen bought a share of its stock for 
$20 when be loured the plant in January. 

Instead of seeking central bank credits 
or a joint venture with Western giants 
such as PepsiCo, Red October issued a 
secondary offering or stock Monday, 
floating 3.5 million shares at 20,000 ru- 
bles ($6.25) each to raise $22 million. The 
injection of capital was intended to mod- 
ernize equipment, introduce modem 
marketing methods, open a chain of re- 
tail outlets and build a factory. 

In a country where no computerized 
central data bank exists to register stock 
trades, and where brokers seeking shares 
in an oil company must fly to ihe compa- 
ny’s headquarters in Siberia to register 
the purchase. Red October offers inves- 
tors ease and accountability, plus a 
glossy company report listing profits, 
risks and the leading shareholders. The 
factory in central Moscow even installed 
a telephone hot line for shareholders. 

“We want to help privatized Russian 
companies raise equity finance in an effi- 
cient and proper manner," said Richard 


SaxL foroe k** 1 accepted that 

«,iIlf ria S -? aiia K emc ni was 
mating with the unions dial 

had agreed lo explain the 

breakdown 0 f udJo with the pi- 

Evcn if the new plan is imple- 
mented. layoffs will not be W 
®tnem. Spanish law requires a 
-W-day negotiating period be- 
fore group layoffs can be autho- 
rized. If no agreement is 
reached in that 30 days, the La- 
bor Ministry has 15 days to re- 
solve the problem. 

“The Labor Ministry doesn’t 
have to accept everything the 
company asks for,” a minis try 
Spokesman said. 

Pricing of Iberia’s various 
holdings will probably b egin 
next week. One of the most at- 
tractive assets will be its han- 
dling operations, which include 
passenger and luggage check-in 
and unloading, maintenance 
and refueling for most planes 
that land at Spanish airports. 

Almost half of Iberia's staff 
works in some aspect of han- 
dling, and the operation has 
been estimated to be worth 87 
billion pesetas ($660 million). 

Iberia management hys said 
the carrier could go bankrupt in 
March, after losing more than 
150 billion pesetas over the last 
three years. Its loss this year is Oi?AI tt 

S I bS^i l ^lmf cantIyexcecd South Korean Economy Pays the Price for Its Rush to Growth 

(Reuters, AFP, Bloomberg) Continued from Page 15 gest supplier of 4 and 16- mega 


Wilson, a director of the Know-How 
Fund, a British government program 
that is coaching the privatization effort. 
Enlisting the help of Saxnuei Montagu & 
Co., the British-based investment bank- 
er, and auditors from Ddoiuc & Touche, 
the fund invested more than $1 million 
to help Red October organize its financ- 
ing and prepare its share offering. 

It was a pilot program, Mr. Wilson 
said, “designed to give them insight into 
Western-style new issue practices.'’ 

Many brokers in the Russian market 
lauded Red October’s effort, even as they 
refrained from buying the shares. “It is 
very important that Sis be successful,” 
said a Moscow-based broker with a ma- 
jor New York firm, who spoke on the 
condition that he not be identified. 

“It’s a great first step, but at the end of 
the day $20 million is nothing,” he said, 
calling Red October’s offering a kind of 
national “loss leader,” a chance for Rus- 
sian brokers to practice what Western 
economists have preached. 

Oleg Tsarkov, director of Grant Finan- 
cial Center, the brokerage firm handling 
Red October’s shares, said it was too early 
to provide exact sales figures. But he said 
institutional buyers had proved unexpect- 
edly reluctant, and be blamed insufficient 
advertising for the small turnout among 
ordinary Russian buyers. 

Yet Red October chocolate, like some 
domestic vodkas, re mains popular with 
Russia’s consumers. The company re- 
ported a profit of $20 million last year. 
And its brand name inspires confidence 
in a land rife with pyramid schemes and 
other stock-market scams. 


investor’s Europe 



London .. •. f parts.' ■ ' 

FTSE 100 Index 


JA S O ftf £ 
19U 



. -i m - . . ;; 


Exchange 

Index- . 

: Wadna«&y.I%ew.":-.'^-. . 

.Ctoso- \. Close. Change 

Amsterdam. 

ABC • •. 


Brussels 

Stedc index 

■ 7,311.43 ~ :*QJQ2 

Frankfurt 

QAX 

; 4£55.60 '. 2&*$J38 -• +0.43 

Frankfurt 

FAZ . ■ ° 

■ 77Z06 ' ■ .T72&7 'ftOJ 

Habbdd 

HEX • ■ 


London 

Finance TiOF»s3q : 2 & 8 J 8 - £37850 +006 | 

London '• 

FTSE TOO ■ • 

tLOtZSQ SjQfStO.. -0,73. 

Madrid 

GeneraUndax : 

• 3QM4 ... . 304253'- ■ .-MS 

Milan 

MH3TEL 

&807.Q& 9,827.00 &20 

Paris 

CAC40 

' 1.9&L84 1,98835 +OS5 

Stockholm 

AffaersvasHcten 

1,88i*58 .. 1*86938 Am 

Vienna 

ATX index 

■ L044.01 .1044^2 . *0.08 

Zurich 

SBS. '• • 

W443 '■•ai&s?, '-P-ie. 

Sources. Reuters. AFP 

tnlenuaiuMl Herald Tnhiirr 

Very briefly: 


Direct 


i 'A Mnbilc 


VSEL Stock Hit by Inquiry 

Compiled by Our Staff Fran Dapauhet 

. LONDON — VSEL shares fell 13 percent Wednesday after 
the Department of Trade and Industry referred rival bids by 
British Aerospace PLC and General Electric Co. for the 
'.submarine maker to Britain's antitrust body. 

■ The action means the bids are effectively suspended until 

the Monopolies and Mercers Commission issues its report, 
which is due by March 15. _ . 

VSEL’s shares closed down 197, at 1,338 pence ($20.90). 

■ GEC rose 23, to 2753, while BAe fell 4, to 433. 

Michael Hesdtine, president of the Board of Trade, said 
the department had acted because the bids had raised issues 
■of public interest and competition in the procurement of 
, warships. Die commission is to investigate only the mfihaiy 
tepects of the proposed VSEL sale. 

(Bloomberg Reuters, Knigfa-Ridder) 


Continued from Page 15 

nounced in February, is behind 
schedule. 

“Die government’s view is 
myopic,” said Kim Kyeong 
Won, senior economist ai the 
Samsung Economic Research 
Institute. “They try to control 
the Korean economy even 
though it’s already too big for 
them to control.” 

There are also signs that the 
chaebol strategy of building up 
excess capacity in capital- and 
technology-intensive industries 
and then muscling into markets 
with cut-rate pricing will lose 
credibility. 

Samsung Electronics, for ex- 
ample, invested massive sums 
to enter the memory chip mar- 
ket dominated by Japan. After 
of losing money, it has 
the world’s single big- 


bit D-RAMs. Sales are boom- 
ing. 

But m microchips, as in liq- 
uid crystal displays, automo- 
biles and other technology-in- 
tensive industries South Korea 
has targeted, the costs of doing 
business are rising exponential- 
ly. On Wednesday, for example, 
Toshiba Corp. of Japan said it 
would build a $1 billion plant 
next February in central Japan. 
Die facility will manufacture 
64-megabit D-RAMs. 

South Korea's three semicon- 
ductor makers — Samsung 
Electronics, Hyundai Electron- 
ics and Goldstar Electron — 
plan to invest more Than $6 bil- 
lion in new chip plants in 1995. 
But there are questions whether 
they will be able to continue 
investing in new plants as costs 


- L 


NYSE 


.’sCknliiB 

Tahtea inefude ihe naSormkta prices up to 
■ the dosing on We* Street and do not reflect 
late trades etaewhera Wa The Associated Press 


YM PE 1 BPS H8pft UwrUWOl'Be 


,.Af 



YM PE 10ft. Han unmeJOi'm 



escalate, particularly if their 
business strategies assume that 
losses are the cost of market- 
share expansion. 

“Capital-intensive industries 
are becoming more capital-in- 
tensive and Korea has a chronic 
shortage of cash," said Stephen 
E. Marvin, bead of internation- 
al research at SsangYong In- 
vestment & Securities Co. 
“They can try to raise more 
money abroad, but then they’ll 
need lo be more reasonable or 
nobody will buy their paper.” 

Without doubt, there are 
signs that the South Korean 
government is becoming less in- 
terventionist. On Wednesday, 
for example, the Trade Ministry 
gave the green light to Samsung 
Heavy Industries to enter the 
auto business. The decision led 
to a strike call and a march by 
protesting autoworkers that 
was broken up by riot police 
using tear gas. Competing auto- 
makers fear Samsung’s entry 
will lead to excessive competi- 
tion. 

The government hinted 
Wednesday that it may open 
the stock market fully to for- 
eigners in 1998 or 1999. The 
eating for foreign stakes was 
raised to 12 percent from 10 
percent last week and will be 
raised to 15 percent next year. 

On Monday, South Korea 
completed plans to phase out 
foreign exchange controls by 
1999. 

The conviction on bribery 
charges this week of three 
prominent industrialists also 
underscored president Kim 
Young Sam’s determination to 
combat corruption. 

Moreover, South Korea’s 
economy is booming as compa- 
nies invest in production facili- 
ties to meet demand from the 
United States, China and 
Southeast Asia. Its semiconduc- 
tors, cars, ships, steel and other, 
products have become far more 


NOTICE 

The minimum initial 
subscription amount in the 
FCP's Citi Asia Capital 
Guaranteed Fund and CmLaun 
America Capital Guaranteed 
Fund is reduced to USS 100. 


competitive with Japanese ones 
as a result of the yen’s 12 per- 
cent jump against the dollar this 
year. 

“The Korean economy is do- 
ing well but there are many 
short-term factors such as the 
yen,” Mr. SaKong said. “In the 
long run, we can’t count on 
these benefits. We’D have to 
move up the industrial ladder.” 


• German authorities arrested two employees of Deutsche Bunde- 
spost Telekom on suspicion of defrauding the German phone 
company, after prosecutors confirmed a report in the Internation- 
al Herald Tribune that an investigation was under way. 

• Bang & Otufsen Holding AS, a Danish maker of home entertain- 
ment systems, said lower costs would enable it to triple fust-half 
pretax profit, to 120 million kroner ($20 million). 

• Riws PLC, Britain’s biggest brewer and the world’s largest 
hotelier, said annual profit rose 8.7 percent, driven by a strong 
upturn in its Holiday Inn hotel chain. 

• Carbon Comnnmications PLC said its venture into the British 
television industry helped ii raise annual pretax profit 5 1 percent, 
to £190 milli on ($296 million). 

• Ukraine’s Parliament lifted a four-month ban on privatization 
but derailed plans to accelerate reform by approving a list of 
several thousand enterprises that will remain in state hands. 

■ British Sky Broadcasting Co. and Walt Disney Co. said The 
Disney Channel would be launched exclusively on the Sky satel- 
lite td e vision network in the autumn of 1995. 

• British statisticians said the number of tourists visiting the 
country grew 9 percent in tbe third quarter from a year earlier. 

• European Commisaon officials said they might conduct an 
inquiry into state aid for l-uffliansa AG. 

Bloomberg, Reuters. AP, ATX, 


4 8 = 

Ml 3 

e v 

Coo&Hied on Page 18 


Tc 

Pacific 
Holdings 

r 


Weekly net js&ce 
value 

un 30JL94 

US$23168 

Listed on the 
j Amsterdam 

~ Stock Esdunge 

Infumutiun. 

McesPierstin C jpitjl Management 
Rutin 55. 1012 KJv Amsterdam. 

Tel.: ♦31-20-52 1 1410. 


to OUR 
REAPERS 
IN BERLIN 

You con new 
receive the 1HT 
hand dekvaea 
to your hone 
or office 
every morning 
on the day of 
publication. 
Justed! us 
toB. free at 
013084 85 85 


FIDELITY ORIENT FUND 

Societe d’investissement a Capital Variable 
Kansallis House - Place de l'Etoile 
L-1021 Luxembourg 

NOTICE OF ANNUAL GENERAL MEETING 

NOTICE is hereby given that the Annual General Meeting of the Shareholders of 
Fidelity Orient Fund, a socidt6 d’investisseraent a capital variable organised under 
the laws of the Grand Duchy of Luxembourg (the "Fund"), will be held at the 
registered office of the Fund. Kansallis House. Place de l’Etoile, Luxembourg, at 
1 1:00 a.m. on December 27, 1994. specifically, but without limitation, for the 
following purposes: 

1 . Presentation of the Report of the Board of Directors. 

2. Presentation of the Report of the Auditor. 

3. Approval of the balance sheet and income statement for the fiscal year ended 
August 31. 1994. 

4. Discharge of the Board of Directors and the Auditor. 

5. Election of six (6) Directors, specifically the re-election of Messrs. Edward C. 
Johnson 3rd, Barry R. J. Bateman, Charles T.M. CoJJis, Sir Charles A. Fraser, 
Jean Hamilius and H.F. van den Hoven, being all of the present Directors. 

6. Election of the Auditor, specifically the election of Coopers & Lybrand, Luxem- 
bourg. 

7. Consideration of such other business as may properly come before the meeting. 

Approval of items 1 through 7 of the agenda will require the affirmative vote of a 
majority of the shares present or represented at the meeting with a minimum number 
of shares present or represented in order for a quorum to be presenL 

Subject lo the limitations imposed by the Articles of Incorporation of the Fund with 
regard to ownership of shares which constitute in the aggregate more than three 
percent (3%) of the outstanding shares, each share is entitled to one vote. A 
shareholder may act at any meeting by proxy. 

Dated: November 30, 1994 
By Order of the Board of Directors 


Fidelity 



Investments" 


FIDELITY FRONTIER FUND 

Societe d'Investissement k Capital Variable 
Kansallis House - Place de l'Etoile 
L-J021 Luxembourg 

NOTICE OF ANNUAL GENERAL MEETING 

NOTICE is hereby given that the Annual General Meeting of the Shareholders of 
Fidelity Orient Fund, a socititti d'investissement a capital variable organised under 
the laws of the Grand Duchy of Luxembourg (the "Fund"), will be held at the 
registered office of the Fund, Kansallis House, Place de l'Etoile, Luxembourg, at 
11:00 a.m. on December 29. 1994, specifically, but without limitation, for the 
following purposes:’ 

1 . Presentation of the Report of the Board of Directors. 

2. Presentation of the Report of the Auditor. 

3. Approval of the balance sheet and income statement for the fiscal year ended 
August 31. 1994. 

4. Discharge of the Board of Directors and the Auditor. 

5. Election of six (6) Directors, specifically the re-election of Messrs. Edward C. 
Johnson 3rd, Barry R. J. Bateman. Charles T.M. Collis, Sir Charles A. Fraser, 
Jean Hamilius and HLF. van den Hoven, being ail of the present Directors. 

6. Election of the Auditor, specifically the election of Coopers & Lybrand, Luxem- 
bourg. 

7. Declaration of a cash dividend in respect of the fiscal year ended August 3 1 , 1994. 

8. Consideration of such other business as may properly come before the meeting. 

Approval of items I through 8 of the agenda will require the affirmative vote of a 
majority of the shares present or represented at the meeting with a minimum number 
of shares present or represented in order for a quorum to be presenL 

Subject to the limitations imposed by the Articles of Incorporation of the Fund with 
regard to ownership of shares which constitute in the aggregate more than three 
percent l3%i of the outstanding shares, each share is entitled to one vote. A 
shareholder may act at any meeting by proxy. 

Dated: November 30. 1994 
By Order of the Board of Directors 



Investments' 


15 

1 




i 


















































































































) 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


Page 19 


Autoworkers 

In Korea Call 
Indefinite Strike 


ASIA/PACIFIC 


"This may have an adverse 
short-term effect on existing 
b asm ess, but I believe free com- 
petition wifi contribute to our 
car industry in the long run," 
Mr. Kim said. 

Workers and union leaders 
nave said such a move would 
cause saturation in South Ko- 
rea’s auto industry —leading to 
poorer corporate earnings and 
less job security — as well as 
deepen the country's depen- 
dence on Japanese technology. 

Some industry executives also 
say a new entrant would flood 
the market and lead the industry 
into a slump through cutthroat 
competition. 

“The domestic market wifi 

ts its decision. competitive," said Scott Fosui 
of Menili Lynch International 
Inc. in Seoul. 

“There is no reason to block 
Samsung's bid. But it will 
prompt a restructuring of the 
domestic car industry," said 
Lee Sang Jin of Schroders Secu- 
rities. 

Some had more doubts about 
Samsung’s choice of Nissan, 
which has been posting large 
losses and losing market share 
in Japan, as a partner. 

Samsung said it would pay 
Nissan royalties of 1.9 billion 
yen ($19 million) plus between 
1.6 percent and 1.9 percent of 
the price of each car for the 
technology. 

The plan calls for Samsung’s 
heavy-machinery and ship- 
building unit to produce 65,000 
sedans a year starting in 1998. 

(AFP, Reuters) 


< SEOUL — Autoworkers’ 
muons declared an indefinite 
Potest strike Wednesday after 
government announced that 
it would allow the Samsung Co 

-to move into car manufactur- 
ing. 

The general strike announce- 
meat came during a demonstra- 
tion by about 10,000 workers in 
-^eoul shortly after a unit of 
Samsung, a major manufactur- 
er of dectronic and industrial 
[products, was granted govern - 
. ment approval to start building 
.pars. 

■ Union leaders from the five 
easting South Korean auto- 
nialcers said the strike would 
.start Thursday and would be 
1 !uodennite u 

ment retracts 

; Such a strike would befllegal 
und er South Korean law and 
. could inflict severe damage on a 

anting industry that produced 
Dare than 2 million automobiles 
last year and had export sales 
totaling $4.5 billion, or 6.2 per- 
cent of the country’s exports. 

• Managers at Hyundai Motor 
Co., Daewoo Motor Co., Kia 
Motors Corp„ Asia Motors Co. 
and Ssangyong Motors Co. ap- 
pealed to the unions to aban- 
don the strike plan, saying it 
would cost the industry p ?5 
, million a day in lost sales. 

The strike decision came 
shortly after Trade Minister 
Kim Chul Su announced the 
government would allow Sam- 
.sung Heavy Industries Co. to 
import the technology neces- 
sary to begin car production in 
-a venture with Nissan Motor 
‘Co. of Japan. 


Chic Condos in the Slums 

Bombay Builders Seek Inexpensive Land 


Bloomberg Business New 

BOMBAY — Deep in the 
heart of this island city, work- 
ers are putting the finishing 
touches on a plush 23-story 
condominium tower with its 
own tennis courts and pool 

It looks like the wrong 
building in the wrong place. 
For this is Bombay's ruined 
heart — neighborhoods of 
boarded-up textile mills and 
tenements called chawls 
where families of 10 cram 
Into a single room. 

As the Bombay real-estate 
market booms, the develop- 
ers are spilling out of its pric- 
ey southern tip and into 
blighted neighborhoods such 
as this one, known as Bom- 
bay Central. 

So profitable is building 
housing these days that all 
kinds of companies have 
piled into the business, from 
shipping concerns to liquor 
distillers. 

Nobody knows bow long 
the party wifi last, though. In 
real estate, what goes up must 
usually come down, and 
many of these companies 
could end up nursing some 
bad bums. 

For the time being, real- 
estate prices continue to soar. 
In (he better neighborhoods 
in the south, housing is so 
scarce that condos go for 
30,000 rupees a square foot, 
or about $1,000 for a space 
not much bigger than a com- 
puter screen. 

Prices like those make 
Bombay the third most ex- 
pensive housing market in the 
world, after Hong Kong and 
Tokyo, by some estimates. 

For a company like Great 
Eastern Slipping Co„ India's 
largest shipping concern, 
buying cheap land in the 


slums and building condo 
towers is a lot more profitable 
than shipping freight 

Because land is so much 
cheaper in the poorer neigh- 
borhoods, Great Eastern can 
sell the three-bedroom con- 
dos in its as- y ei- nnnam ed 
tower for 12,000 rupees a 
square foot. 

“It is only because our 
complex is where it isT says 1 
Ghanshyam S. Sheth, execu- 
tive director of Great East- 
ern, “that I can offer great 
value for a great price." 

For the time being, there 
are plenty of buyers. Great 
Eastern said it had already 
sold most of the condos. 

But as more buildings ap- 
pear in neighborhoods like 
this, the developers who built 
them become increasingly 
vulnerable to a downturn. 

Consider the latest cycle in 
the United States: Compa- 
nies such as Xerox Corp. that 
jumped into building office 
lowers in the boom of the 
1980s — even in partnership 
with seasoned developers — 
are now trying to dump 
buildings that have been 
largely empty for years, since 
the real-estate market col- 
lapsed in the early 1990s. 

But when the market does 
turn down here, at least the 
banks wifi not be saddled 
with a lot of bad real-estate 
loans, as they have been in 
the United States and Japan. 
Commercial banks in India 
are forbidden by law from 
lending to developers. 

Some companies get 
around that by having their 
boards secure the loans per- 
sonally. 

Lok Housing & Construc- 
tion LuL, for instance — In- 


dia’s second-largest home 
builder — borrowed $4 mil- 
lion, which its directors per- 
sonally guaranteed would be 
repaid. But that is not practi- 
cal for most companies. 

Indian companies finance 
as much as half of their build- 
ing costs by pre-selling con- 
dos — something they could 
not do in many markets, as 
buyers in most places hesitate 
to pay a lot of money for a 
condo they have not seen. 

Indian developers wifi need 
to raise an enormous amount 
of capita] — perhaps as much 
as $4 billion nationally over 
the next few years — if de- 
mand is to be met 

Many of the new players 
are starting to turn elsewhere 
to get these huge sums. Some 
are raising cash by selling 
shares in their real-estate sub- 
sidiaries to the public. 

With the outlook for the 
Indian economy fairly strong, 
the real -estate market may 
stay healthy for the next sev- 
eral years. 

There are some Bombay 
residents, however, who are 
not thrilled by that news. 

They are the people who 
live in the run-down neigh- 
borhoods. They fear gemrifi- 
cation wifi eventually push 
them out of their tenements 
and leave them no place to go 
but the streets. 

Then there are the mills. 
The government is finally let- 
ting the owners sell land 
around the plants. The mon- 
ey, however, is not going bade 
into the mills, generating jobs 
for the unemployed. Eventu- 
ally, residents fear, the mills 
will be tom down as well — 
to make room for more con- 
dos and office towers. 


We nave seen quite a lot or 

ORK: Employees Want a Say Keidanren Mulls Asia Caucus Stand SSSfeS Taiwan Thins Trade Surplus 


Fidelity’s 
Gaffe Hits 
Markets 


Bhxnibtrg Bttanos New 

TOKYO — News that a cal- 
culation error had forced the 
world's biggest mutual fund to 
caned a year-end payout sent 
minor shock waves through 
stock markets in Asia on Tues- 
day as investors feared a wave 
of redemptions by UJS. funds. 

Fidelity Investments an- 
nounced Monday that it would 
not make a year-end distribu- 
tion of income to the 3 millio n 
holders of its Magellan fund. 

The announcement surprised 
investors, who look at the Ma- 
gellan fund as a prime indicator 
of the health of the U.S. mutual 
fund industry. 

“There is a belief this is an- 
other nail in the coffin, that ft 
will cause more redemptions,” 
said Clive Weedon, sales and 
research director at Asia Equity 
in Hong Kong. 

In Tokyo, the Nikkei Stock 
Average fell 16624 points, to 
19,17423, in part because of the 
dews. Id Hong Kong, the Hang 
Seng index fell 64.15 points, to 
8,332.65. 

Traders were concerned that 
the Fidelity announcement 
would prompt U.S. investors 
who had not yet cashed out of 
stocks to take advantage of 
higher interest rates by invest- 
ing in bonds — in particular, 
that U.S. fund managers would 
try to raise funds by selling 
some of their Asian holdings 

That would be a troubling 
turn, because American mutual 
funds dedicated to Asian shares 
were one of the main forces 
behind the gains in Asian mar- 
kets last year, said Bruce Rolph, 
head erf research at Salomon 
Brothers Singapore Ltd. 

A retreat by U.S. funds is 
already evident in Tokyo and 
Singapore, traders said. 

“We have seen quite a lot erf 
redemption selling,” said 


Investor’s Asia 


Hong Kong 
Hang Seng . 

ttWH 


st 

!' , .. ?'* AnivfTn' ! 



Singapore 

•S&aiteTirrws’j: 


Sydney 

• A& Ordinaries./. ' 


Tokyo; 

.NMqtiSHS 


[ Koala Lumpur Composite : 


Bangkok' 

SET • ‘ ' : 


-Seput 

CornpasheStocfc ^pe&tei 

Taipei 

■ WeSghfed Price; 


Manila 

•PSE • 


Jakarta 

Stock foidex 


New Zealand 

NZSE-40 ■■■. ■ 


Bombay 

■ National Index 


Sources: Reuters, AFP 

International Kcnld Trfomc 

Very briefly: 


• Intenurtioiial Business Machines Corp. said it planned to estab- 

supportjoint 


. id it plan 

lish a research laboratory in Beijing by mid- 1995 to 
projects with universities and research institutes. Separately! Mi- 
crosoft Corp. said it would sign a memorandum of unders tanding - 
Thursday with China to develop its new Windows 95 program. 

• Toshiba Corp. said it would begin in February to build a $1 
billion “dean room" for mass production of dynamic random 
access memory chips at Yokkaichi in central Japan in February. 

• Brieriey Investments Ltd. said it would sell the 28 percent stake it 
acquired only last month in Wilson & Horton L&L, publisher of 
the New Zealand Herald, after Wilson & Horton said it wanted a 
media company as a major holder instead. 

• Journalists at News LbL, the Australian unit of Rupert Mur- 
doch’s News Corp, walked off the job in Melbourne and Adelaide 
, on Wednesday, joining strikes started Tuesday by their colleagues 
in Sydney and Brisbane over the spread of non-union contracts as 
well as issues of copyright and allowances for new technology. 

• Hopewell Holdings LtriL, a Hong Kong-based construction, real 
estate and power utility concern, canceled its first international 
bond sale and will use bank borrowing for financing instead. 

Bloomberg, AFX. -4FP. Reuters 


Continued from Page 15 

mission added, has been man- 
agement’s aggressive cam- 
against union organiz- 


The AFL-CIO wants the 
.commission to recommend 
changing laws to make organize 
easier. The study suggests 
it workers themselves — 
quite wart from organized la- 
bor — favor easier union orga- 
nizing. 

A third of " the nonunion 
Workers surveyed said they 
would vote for unions to repre- 
sent them, though some said 
they would not do so in the face 
.of management opposition. 
Ninety percent of the union 
members in the study said they 
jvanted to keep their unions. 

• The most startling finding in 
the six-month study, which first 


See our 

Reed Estate Marketplace 

every Friday 


involved focus groups and then 
telephone interviews with 2,400 
woncers, came when the work- 
ers were asked to choose be- 
tween two types of organiza- 
tions to represent them. One 
would have no power but would 
have management’s coopera- 
tion. The other would have 
power bat would be opposed by 
management By a 3-to-l mar- 
gin, the workers chose the 
weaker organization. 

Seventy- three percent of the 
workers surveyed said they be- 
lieved that management was so 
powerful that any employee or- 
ganization formed to have a say 
an issues such as wages, bene- 
fits, working conditions, tech- 
and production goals 
“only be effective with 
management cooperation.” 

Just 38 percent said they were 
confident that their companies 
kept promises to employees, 
and 7o percent said their com- 
panies would be more competi- 
tive if “more decisions about 
production and operations were 
made by employees instead of 
managers.” 


Bloomberg Business New 
TOKYO — The Japan Fed- 
eration of Economic Organiza- 
tions, or Keidanren, is consider- 
ing supporting an East Asian 
Economic Caucus early next 
rear, a spokesman said 


The lobbying group for big 
business in Japan said it hoped 
to deride on its stand before 
sending representatives to talk 
with members of the Associa- 
tion of Southeast Asian Nations 
in February. 

But Shunsuke Kohiyama, the 
spokesman, said no decision 
nad been made on whether Ja- 



Asian Economic Caucus would 
be a group akin to the European 
Union and North American 


Free Trade Agreement, which 
offer participants places to dis- 
cuss issues of mutual interest. 

Plane Minister Mahathir bin 
Mohamad of Malaysia pro- 
the caucus in 1990 and 
been its strongest supporter 
in the region. ASEAN members 
agreed to establish an East 
Asian Economic Caucus in 
1992 to act as a regional con- 
sulting group. 

The United Slates has op- 
posed forming such a group, 
saying it would weaken broader 
efforts in support of free trade 
such as the Asia-Pacific Eco- 
nomic Cooperation conference. 

■ Upswing Seen in Japan 

Corporate Japan is recover- 
ing from its slump, and profits 
will rise in the current business 


year after four years of declines, 
Reuters reported, quoting re- 
search institutes. 

The institutes said they had 
become more optimistic be- 
cause erf restructuring efforts by 
companies, a recovery in pri- 
vate consumption helped by a 
hot summer and tax cuts, and 
strong exports fueled by eco- 
nomic recoveries elsewhere. 


Standard Chartered Securities 
Singapore Ltd. Mutual funds 
have been trying to sell stock 
“at whatever price,” she said. 

In Taipei, investors shrugged 
off the news. The response else- 
where, said James Rosenwald, 
president of Rosenwald Capital 
Management Inc. of California, 
was “much ado about nothing.** 

He said rising interest rates 
were the main reason Asian 
markets were falling. 


Comfubd by (hr SU$ From Dispatches 

TAIPEI — Taiwan's trade surplus shrank 21 percent in Novem- 
ber to $950 million, compared with a year earner, despite record 
exports and imports, the Finance Ministry said Wednesday. 

Exports jumped 26 percent to a monthly record of $9.47 billion, 
and imports rose 35 percent to $8.52 billion, also a record, the 
ministry, said. 

“Exports are picking up on quickening global economic recov- 
ery,” said Chen Chang-shang, chief of the ministry’s department 
of statistics. Imports grew as consumers who have benefited from 
economic growth at home snapped up foreign goods, analysts 
said. (Bloomberg, AFP) 


Hie joint stock company Homineft" 
Memorandum 

Due to recent changes in the structure of the joint stock 
jorapany "Ko min eft H has been decided to mitpone the 
shore certificate transfer & exchange published m the 
International Herald Tribune on September 2, 1994. 

Until further notice the existing certificates will remain 
jo changed previous registration procedures. 

Client: . 

Hie joint stock company "Ko min eft" "Komilux International 
13, Octyabrakaya Street 


69400 Ukhla 
!c public of KOMI 
d.: (782147) 62612 
ax: {782147) 61808 


29, av. Monterey 
L-2163 Luxembourg 
TcL: (352) 224428 
Fax: (352)224431 

Financial Adviser: 

’Diffusion Finance SA.RX-" 

100, rue dc Caspcrich, 
L-I6I7, Luxembourg 
TcL: (352)400810 
Fax: (352) 400 823 


International 

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Tuesday 

Education Directory 
Wednesday 


I Thursday 

International Recruitment 

I Friday 

Real Estate Marketplace, Holkfays and Travel 
I Saturday 
Arts and Antiques 

Plus over 300 hearings in intern ationaJ Classified 
Monday through Saturday 

For further information, contact Philip Oma in Paris: 
Tek (33-1) 46 37 94 74 -Fax: (33-1) 46 37 52 12 

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The IHT Pocket Diary 
Fits In The Palm 
Of Your Hand. 



Year after year - even at a period when 
diaries abound - die International Herald 
Tribune flat, silk-grain leather diary is the hit of 
the season. 

Ingeniously designed to be thinner-than- 
thin, it still brings you everything ... including a 
built-in note pad with always-available “jotting 
paper”. Plus there are conversion tables of 
weights, measures and distances, a list of 
national holidays by country, a wine vintage 
chart, and many other useful facts. All in this 
incredibly flat little book that slips easily into a 
pocket 

The perfect gift for almost anyone ... 
including yourself. 

— Please allow three weeks for delivery. 


Phase send me 1995 IHT Pocket Diaries. 

Price includes initials, packing and postage in Europe: 

1-4 diaries UK £22 (U.SJE33) each initials 

5-9 diaries UK £20.50 (U.S.S31) each “ pto 3 pa-gu y 

10-19 diaries UK £18 (U.SLS27) each MM 


• Measures 8 x 13 cm (51/4 x 3 in.}. 

•Black leather cover 
with gflt metal corners. 

• Week-ar-a-glawe format, printed on 

French blue p^*r with 
gilded page edges. 
■ 1995 notable dates and national 
holidays in over 80 countries, world 
time-zone table; international telephone 
dialing codes and country prefixes; 
convention tables of weights, 
measures and distances. 
• Blue ribbon page marker. 
• Includes removable address 
book thar fits singly imo its own silk 
pocket No need to re-write your most 
important pbone numbers — (headdress 
book will fit right into next year’s diary. 

• Each diary packed in a blue gift box. 

• Corporate personalization and 
discounts are available. 
For details, fax Paul Baker at 
(44-81)9448243. 



• Blue notepaper sheers fit on 
(be back of the diary— a 
simple pul! removes top sheet 
100 refill sheets included. 


EH Additional postage outside Europe £4 .50 (UJLS6.90) 

□ Check here for deli very outside Europe by registered or 
certified mail: £5.75 (US.S8.60) per package plus postage. 

Payment is hy credit card ooty. AB major cards accepted, 
pfease charge to my credit card: 

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Mail or fax this order form to: 
ImemaiionaJ Herald Tribune Offers, 

37 Lambton Road, London SW20 OLW UJK. 
Fax:(4481)9448243 




INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


k r: 


iTm# 


Wednesday'* 4 p-m. 

THs nst compiled by the AP, consists of the 1,000 
most traded securities in terms of dollar value. ft la 
updated twice a year. 


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41 25 IS* 14* 15* _ 
15 1711 20* 19* 20* — W 
_ 404 47*d46* 44* — * 


17JT 


Wednesday’s Closing 

Tables include the nationwide prices up to 
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Page 22 


INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


SPORTS 


Rockets, Without Olajuwon, 
Are Outgunned by Sonics 


The Associated Pros 

tacoma, wash. — it’s be- 

SuuiiQg to look a lot like last 
season for the Seattle Super- 
Souics. 

After 16 games last fall, they 
were 15-1 on the way to an 
NBA-high 63 victories. This 
season, they got off to a 5-5 

NBA ROUNDUP 

start, but have since won six 
straight games — the longest 
current victory streak in the Na- 
tional Basketball Association 
— and eight of their last nine. 

Their latest effort was a 103- 
90 defeat of defending NBA 
champion Houston os Tuesday 
night in the Tacoma Dome. The 
Rockets got off to a 9-0 start, 
but now have faded to 11-5. 

To make things worse for 
Houston, the Rockets played 
Tuesday without Hakeem 
Glajuwon, the league’s Most 
Valuable Player last season and 
Houston's leading scorer and 
rebounder. OUyuwon crashed 
into a photographer's camera, 
injuring his right wrist, last 
Thursday at Golden State. 

The Rockets aren’t sure how 
long Olajuwon will be out. 

Meanwhile, Gary Payton 
says the Sonics “are beginning, 
to play like we did last year.” 

Payton, despite back spasms 
caused by a fall on ice and snow 
earlier in the day, scored a season- 
high 30 points against Houston. 
Otis Thorpe, starling at center in 
place of Olajuwon, led Houston 
with a season-high 21 paints, and 
Vemoa Maxwell added 20. 

Phoenix's game with the 
Washington Bullets in Lan- 
dover, Maryland, had to be posl- 
poued because of condensation 
that made the court unusable. 

Hawks 94, Nets 91: In East 
Rutherford, New Jersey, Craig 
Ehlo converted a breakaway 
layup and foul shot with 0.3 
seconds remaining as Atlanta 


beat New Jersey to win its third 
straight game. Mookie Blaylock 
finished with 1? points and 12 
assists, Stacey Auguxra added 
17 points, and Grant Long 16 
tor the Hawks. Kenny Ander- 
son led the Nets with 24 points. 

Mavericks 124, Spun 121: In 
San Antonio, Jamal Mashbum 
scored 34 points, Jimmy Jack- 
son added 28 and Roy Tarpley 
had season-highs in points ana 
rebounds to lead Dallas to an 
overtime defeat of San Antonio. 
Jackson's finger-roll with 37.6 
seconds left in overtime gave 
the Mavericks the lead for 
good. David Robinson matched 
his season-high with 42 points, 
but he fouled out with 54.7 sec- 
onds left in overtime. Vinnie 
Del Negro scored 25 points and 
Avery Johnson had 22 points. 
Tarpley had 22 points and 14 
rebounds for the Mavericks. 

Magic 114, Cavaliers 97: An- 
fernee Hardaway scored 10 
points and Shaquihe O’Neal 
had nine in Orlando's 42-point 
first quarter as the Magic won 
in Cleveland. O'Neal and Nick 
Anderson finished with 26 
points each and Hardaway fin- 
ished with 20 for the Magic, 
which has won nine of 10 
games. 

Knicks 104, Celtics 90: In 
New York, Charles Smith had 
20 points and New York shut 
down Boston in the second half. 
The Knicks led by as many as 
20 points early in the final peri- 
od. The Celtics, who dropped 
their third straight, made only 
12 of 36 shots after halftim e. 
Ditto Radja had 23 points to 
lead Boston. Dominique Wil- 
kins added 20. 

Lakers 113, Warriors 101: 
Los Angeles made a franchise- 
record 1 1 3-pointers to hold off 
visiting Golden State: Cedric 
CebaDos had 28 points and 12 
rebounds to lead the Lakers, 
who outrebounded Golden 
State 61-42 and beat the War- 


riors for the first time since 
April 18, 1993. Tim Hardaway 
scored 23 points for the War- 
riors, who have lost seven of 
their last eight games. 

Pacers 90, Pistons 83: Dale 
Davis had 19 points and 11 re- 
bounds and Reggie Miller made 
a key 3-poxmer to stop a late 
rally as Indiana beat Detroit. 
The Pacers led by 13 with 5:30 
remaining, but Detroit used a 
12-2 run to pull within one on a 
3-pointer by Terry Mills with 
1 :47 remaining. Mills scored 11 
of his 16 points in the fourth 
quarter. Miller, who scored 18 
points, nailed a 3-pointer with 
22 seconds remaining to seal 
Indiana’s home-court victory. 

Nuggets 102, Thnberwolves 
95: In Minneapolis, Dale Ellis 
scored 14 of his 18 points in the 
second half and rookie Jalen 
Rose started a fourth-quarter 
rally to lead Denver over Min- 
nesota. Rose scored six straight 
points to turn a one-point defi- 
cit into an 88-83 lead with 6:08 
to play. A 10-1 spurt capped by 
Hus' baseline jumper sent the 
Txmberwolves to their 12th 
straight home loss. Doug West 
led the Wolves with 25 points, 
and Isaiah Rider had 23. 

Hornets 106, Jazz 97: In Salt 
Lake City, Utah, Dell Curry 
made six of Charlotte's 13 3- 
pointers, including four in the 
fourth quarter, to lead the Hor- 
nets. Liny Johnson led Char- 
lotte with 28 points, while Kail 
Malone had 31 for Utah. David 
Benoit and Jeff Homacek had 
18 points each. 

Sacramento 106, Milwaukee 
95c Olden Pdynice had 22 
points and 16 rebounds and 
Walt Williams added 20 points 
to lead Sacramento over vmting 
Milwaukee. The victory gave 
the Kings their best eariy sea- 
son record in more than a de- 
cade — eight victories in 15 
games. Glenn Robinson had 3 1 
points for the visiting Bucks. 



A Lackluster Victory 

For No. 10 UConn 


The Associated Pres 

Connecticut learned that 
even early Big East games 
against outmanned opponents 
are tough. ' „ . 

The lOth-ranked Huskies 
looked good in a victory over 
then-No. 6 Duke in last week's 
Great Eight- Bat things looked 
a lot different in the eyes of 

COLLEGE fflGflLKflTS 

Coach Jim Calho un after the 
74-70 defeat Tuesday night of 
Boston College — a team trying 
to replace four starters from last 
season while handling the loss 
of a star freshman, Chris Her- 
ren, for the season because of 
wrist suzgery. 

“1 don't think the opponent 
was that important,” Calhoun 
said. “The opponent was our 
own uniforms. We didn't play 
with enough emotion." 

The Huskies (4-0) don’t play 
a gain until Dec. 23, and that 
means time for Calhoun to 
think about the tough road vic- 
tory over the Eagles (2-2). 

“I won’t forget about it 
Thursday,” he said- “I won’t 
forget about it Friday. I won’t 


forget about it Saturday. It was 


Jeff Hoyees/Afcace France-Praee 

The Cavaliers’ Tony Campbell in the land of die giants, pressured by Anthony Avent and 
ShaqiriBe O’Neal of Oiiando, which has won 9 of 10 games, defeating Cleveland, HR-90. 


Friday. I w 

0 aturday. It 

a total breakdown defensively. 
It’s the first tune in along time 
that someone’s played with a lot 
more emotion than we have.” 

The game was tied, 68-68, 
when Doron Sheffer hit a 15- 
footer with 34 seconds left to 
give the Huskies the lead far 
good. 

“They played with a lot of 
courage and played their hearts 
out," Boston College's coach 
Jim O’Brien said of his team. 

Fair led Connecticut with 21 
points, while had Ray Allen 14. 
Danya Abrams earned the Ea- 
gles with a career-high 29 points 
and 10 rebounds. 

No. 3 Arkansas 121, Centena- 
ry 94: In Fayetteville, Arkan- 
sas, Clint McDaniel had five 
points, three assists and two 
steals in & 19-0 run as the Ra- 


zorbacks ermsed. But forward 
Scotty Thurman left the game 
in the first half with what ap- 
peared to be a sprained ankle. 
Darnell Robinson scored a ca- 
reer-high 24 points for the de- 
fending national champions. 

Nol 8 Arizona 96, Honda 
State 78: In Tucson, Arizona, 
Damon Stoudamixe had 25 
points and 12 assists to lend the 
Wildcats, who shot 64 percent 
in the second half. Florida 
State’s Bob Sura and James 
Collins were held to 15 and 12 
points in the Semmoles’ first 
boss of the season. 

No. 9 Duke 103, George 
Washington 73: In Durham, 
North Carolina, the Blue Devils 
had this one wrapped up by 
halftime with a 30-point lead. 
Duke, which made 11 of its 13 
shots in the first 6 Vi minutes, 
was led by Cherokee Parks’s ca- 
reer-hid) 29 points. 

No. 14 Wisconsin 69, Valpa- 
raiso 51: In Madison, Wisoon- * 
sin, Michael Finley had 28 
points, including the Badgers’ 
first 1 1 of the gama Valparaiso, 
playing without its figured lead- 
ing scorer, Dave Redznon, 
trailed just 54-50 with 7:15 to 
play, but Wisconsin dosed the 
game with a 15-1 run. 

No. 19 Syracuse 83, Miami 
65: In Miami, John Wallace 
was 11 -for- 13 from the field, 
scored 23 points and grabbed 
10 rebounds as the Orangemen 
bamdarf the Hurricanes their 
21st consecutive Big East loss in 
the conference opener for both. 
Constantin Popa had 17 points 
and 13 rebounds for Miami. 

VaodoMt 70, No. 20 Virginia 
65c In Nashville, Tennessee, the; 
Commodores barely hung on 
after leading by as many as 19 
points. Vanderbilt shot 26 per- 
cent (5-for-19) in the second 
half and didn’t seme from the' 
field in the final 12:29. Ronnie 
Mc Mahan and Frank Seckar 
each had 23 points for Vander- 
bilt, while Harold Deane led the 
Cavaliers with 16 points. 


Mediator Sides With Players 


Compiled by Our Staff From Dispatches 

Special mediator William J. Usery came down on the side of 
the striking baseball players Tuesday at the executive board 
meeting of the players’ union in Atlanta. He urged owners to 
give up their revised plans to implement the salary cap on Dec. 
15. What appears to be the &uu attest to reach a negotiated 
settlement begins Friday or Saturday in Rye Brook, New York. 

The US. Congress may also be ready to rejoin the fray. A 
Dec. 2 letter sent to both factions and signed by Senator 
Connie Mack of Florida, Senator John McCain of Arizona 
and Senator-elect Jon Kyi of Arizona, said: "If this dispute is 
not resolved in a timely manner, we will have no choice but to 
move forward with the consideration of an impropriate legis- 
lative remedy, in addition to reserving our right to address the 
[sport's] antitrust exemption — a benefit that was predicated 
on baseball’s unique standing and the goodwill and account- 
ability of its stewards." 

Meanwhile, talks between National Hockey League owners 
and players representatives broke down Tuesday, with both 
rides agreeing only that prospects are slim for saving the season. 

"We’ve given them everything they wanted,” said Mike 
Gartner, the NHL Flayers Association president. "We’ve made 
a tremendous amount of concessions.” NHL commissioner 
Gary Bettxnan said the sides were "too far apart on substance.” 

(LAT.AP) 


SCOREBOARD 


NBA Standings 


EASTERN CONFERENCE 
A Itaettc Division 



W L 

Pd 

GB 

Ortondo 

12 3 

JW0 



New York 

10 S 

M 7 

2 

Boston 

7 T 

AX 

5ft 

PhHadetohla 

6 9 

ADO 

4 

wushtngton 

5 8 

JOS 

6 


7 12 

JM 

7 

Miami 

4 T 

Cwdral Dhrtstae 

JOB 

7 

Indiana 

W 5 

•447 

— 

Charlotte 

? 7 

J43 

1ft 

Cleveland 

9 7 

-543 

Ift 

Chicago 

8 8 

J00 

2ft 

Detroit 

8 8 

SO 

2ft 

Atlanta 

7 T 

AX 

3ft 

Milwaukee 

S 11 

413 

5ft 

WESTERN CONFURENCB 
Midwest DhrtsliM 



W L 

Pet 

GB 

Houston 

11 5 

AH 

— 

Denver 

T A 

400 

1ft 

Utah 

ID 7 

-SB 

Ift 

DaDas 

8 4 

571 

2 

San Antonio 

7 8 

AO 

3ft 

Minnesota 

3 14 

PacHIc HvMaa 

.174 

Bft 

Phoenix 

11 5 

AM 

— 

Seattle 

11 3 

488 

— 

LJLLaftsra 

10 4 

423 

1 

Sacramento 

8 7 

433 

2ft 

GoMon State 

8 8 

J00 

3 


Portland 7 7 S 1 

LA. Clippers 0 14 M 0 It 

TUESDAY'S GAMES 

Boitoa mm s»- n 

Hew York 13 at 31 25-184 

B: Radio AM7-tf 21 Wlfklrtj 4- 147-720; MY: 
Smith 1-14 *420, Masai 5-1044 M. Reboodds- 
BaMon 40 (Mantras 7). New York 48 (Oakley. 
Moon 121. Ass is ts- Ba ton U (Wnstov 7), 
Nor Yarfi 25 t Anthony |«. - 
Atlanta 2) zt ts U -*-w 

New Jersey 2 mill 4-* 

A: Slav lock 8-140-2 17 , EWo 10-17 1-1 Z1;NJ: 
Coleman 0-18 44 22, Anderson M7 3-4 24. Re- 
fcaandB— AMonfa SI (Austrian 41 . Now Jersey 
St I Coleman TLAHMs—Attaria 22 (Blaylock 
12). New jenny 22 (Andorran ID. 

Oricnda « 38 14 3B-1W 

Cleveland 2t 24 23 28— 37 

O: OTNeol 1V14 4-0 34, Anderson 11-14 0-1 2b 
HantosMy 8-143430; C: PrtaO-UMU. Bran- 
tar 4-1S HK nt o wn d i Ortondo47 (Grant 
lOLCIeveirad 47 (Cobo* ). AssMs-Ortendo 32 
(Anderson 8), Ctorakmd 24 (Prise 81. 

Detrail 14 22 W 34— 41 

Indiono 37 19 33 22-88 

o: Mills 4-704 H. OMUIor 8-10 1-2 13; l: 
IXDovts 8-15 3-8 IT, RJMIIbr 5-W 4-7 11 Re- 
bounds— DetraB 44 (Hin. OMiltcr 7). Indiana 
45 (CXDavH McKay 11). Asetris -Detroit 20 
(OMIltar 5), Imflano 21 (Jackson 7). 

BUB 23— IK 
11 24 37 21— TS 
D: 7-12 3-« 17, D. Bills 7-1B 2-3 M: 

M: West 11-18 2-3 25. RMer B-17 4-5 ZX Ra- 
bon mt s Denver 44 ( B.WH1 toms 13),Mtrawso- 
to 51 (LaettnerlSLAisim— Denver 24 (Pack 
9), Minnesota 24 (Garland II). 


se *i it 22 — n 
Seattle 24 24 32 W-WJ 

H: Thorpe V-U 3-5 21, Maxwell 7-WJ420; 5; 
Payton 14-21 44 XL Aritew 7-8 5-5 IT. Re- 
bamts— Houston 48 (Harry »|, Seattle 54 
(Kemp 9). Asrtstp— Houston 18 (Cassell 7), 
Seattle 36 (Payton 8). 

Danas 22 38 38 3T 13—124 

San Antonio 2e 34 zr 29 *-«l 

DiMosfitonm 124* 4-4 24-Jntaon 12-224-4 
25. Taraley 18-182422; SA; Robinson 17-26 8- 
18 42. Johnson 7-T0M 21 Del Negro 12-141-1 25. 

R eb o u n ds D allas 71 (Jones 171. San Antonio 
42(ReW HB. Assists— Delta* 2» (Kidd 131,5071 
Antonio 30 (Johnson is). 

Cbortottl 23 21 24 24—104 

Utah 24 23 2# 34- W 

C: Johnson 8-n PM 28, Curry 4-731- J IT; U: 
Benoit 4-15 5-5 18, Malone P-20 12-17 81. Re- 
bands— Charlotte 40 (Parish 8), Utah 45 
(Spencer 13). Assist s Charlotte 22 (Boom 
7). Utah 21 (Stockton 10). 

OaMan state IT 34 25 22-101 

ULLoken 34 ZS 30 22-113 

G: Snrewefl 7-23 5-7 2b Hardaway 7-12 5-4 28; 
L; CetXdlas 12-21 2-2 2& Vtm End 7-18 24 20. 
Rebo un d s G old e n State 51 (Rogers 91, Las 
Angelas 73 (Dtvoc W). Astals-Galdan State* 
(Hardaway 13), Los Ange l e s 82 (Vtai Enl 14). 

21 M 18 37- TS 
33 23 25 27—108 
M: Rtftlmon 13-25 6-8 21, Cordon 7-11 1-3 U; 
Poivnlce 10-13 24 22, WIHtoms 5-14 18-11 20. 
Rebounds— Milwaukee 53 1 Canton i2).Sacra- 
mento 55 (Pofynko 18). A ss i s t s Milwaukee 
W (Murdock 5), S uuu tnonta 20 (Webb 8). 


Major College Scores 

BAST 

Army 77, Monmoultv NUL 74 
Conmctlcut 74. Boston Colloee 70 
Holy Crass 75, Harvard <0 
Penn St. 84. Md.-E. Shore 55 
St. Joseph's 78, Rutgers 52 
Si. Peter's 92. Long island U. 4f 
Vermont 82, American U, 80 * ... 

SOUTH 

A ngttam Pi, Jackson St >7 

Campbell 74, East Carolina 54 

Duke 103. George wasbingtan 73 

George Mason t& N. Carolina A&T 90. JOT 

Jacksonville 71, South Florida 70 

LSD 111 Tray St 78 

Liberty BA. James Madbon 80 

Mmftafl 88. E Kentucky 71 

Middle Tenn 7Z Akb-HuntsvUle 50 

Mhw. Valley St R7. Della 5*. 70 

Syracuse 83. Mtoml.45 

Vanderbilt 7b Virginia 64 

Wtnttvw 7b Citadel 74 

MIDWEST 

Bradley 80, DvPaul 40 
Cent. Michigan 82 Mldv-Oemtom 74 
Indiana SI. 7Q. Oral Roberts 44 
Iowa SL H Drake (V 
Monwetto M. Fairletah Dickinson 74 
Missouri 84, 5E Missouri 77 
NC.-wilniinotan 81 Illinois St. 71 
w. Kentucky U. Ball SL 77 
W. Michigan «b Purdue 81 
Wisconsin 49, VOtparalsa 51 

SOUTHWEST 

A rK- Uttle Rock T9, GramMIno St. 77 


Arkansas 121. Centenary 74 
Oklahoma 87, Southern Moth, 40 
Texas- El Pan 77, New Mexico SL 48 
Texas-San Antonia 87, Anaato St 81 . 

PAR WEST 

Arizona 94. Florida SL 78 
Brioham Young 74, Mbebelpgl St 44, OT 
CS Northrldue 44. Lang Beach St S 
Colorado 7& Wyoming 49 
Goruogo 44 Idaho 58 - - ■ 

New Mexico TM. E. New Mexico 49 
Southern Cal 9b Sacramento SL 54 
St MorvX Cat 77, Sai Jose St. 44 
UC Sarto Barbara 7b Penpet dt no 43 


UEFA Cup RwuH» 

THIRD ROUND, SECOND LEE 
Tuesday's Matches 

Real Madrid b Odense 3 

Scorers: Pederson (7WI> Btogaard (90m). 
Odonse won 4-3 on oooregoto. 

■aver Lmarkusnr 4 , Katowice 8 
Scorers: Band Schuster (llth>, Andmas 
Tnom (Utti), Heiko Schott (ISHD, Pawl Ha- 
pal (2Mi). 

Leverkusen won 3-1 on aggrawto. 

Parma b Atnieiic BOxw 2 
Scorers: Parma— Gkeitrana Soto Qlst), 
Dino Baggio (37th. 4THi), Fernando Cauta 
(45th); AtWedc Bltoao— Oocar Vrios (54th), 
Jiiton Guerrero (79th). 

Parma wen 43 an aggregate. 


Bo ra s sl a Dertmandb Deswrttvo Cereeo 1 
(attar extra time) 

Scorers: Dort n xxxl— Michael Zorc(5Wn) t 
KMtoehm Rtodle (lum) Lora 
niam); Doperltm — Alfredo 
(iBd). 

• Dort m und won M on o o gr s u ets. 

Jmentes X Adadra WocSnr l 
Scorers: Juventus — am Ferrara tlTth), 
Gtanhsca vtam (Btfh); Adrrrtro — Genl Wim- 
ntor<73d). - 

Juventus won 54 an aggreaate. 
UttVlMMMrl 
Scorers: Unto— Roberto Cravera (25tti), 
Marco D1 Vato (7Slh)i Tiu bn x nu ur — Baz 
Saner (73d). 

Lnzki won *-2 an aggraeete. 

DUTCH FIRST DIVISION 
PSV Eindhoven Z RKC Waatortlk 2 
sbMimiei: Rada JC Karkrade 34 Mints. 
Atox Amstardam 2b PSV Eindhoven 21, 
Twente Enschede 2!t Feyonoord Rnttordam 
17. WMlom II TTbunr Ifc vtfesso Arnhem 14. 
Hee ren v eeH 1A MW Maastricht 13, Utrecht 
13,GronlngcnlbNACBrada11Votond«n 12, 
Sparta Rotterdam ll.NEC Nllmogen lb RKC 
WaWwflk BV GA togiee 7, DardracM vo 6 . 


E3H3S 


MANDELA CUP ONE DAT MATCH 
Sooth Atrlce y% New xsolewl 
Tuesday, in Cone Town 
Couth Alrtco LuWnos: 203-4 at even) 

New Zsatand fimlmis: 1M (ail out 37 J overs) 
Rosutt: South Africa won by 49 rune. 


DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 



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— _ Ludwii HuctoUlLnitcn 

END OF THE LINE — Stefan Edberg str uggle d — and lost — to fellow Swede and Davis Cup teammate Magnus 
Larsson in the first round of the Grand Slam Cup In Munich. Larsson won the match, 6-4, 6-7 (7-9), 8-6, and had 23 
aces to Edberg’s 6. Ip other m a tches , Andre Agassi beat Thomas Muster of Austria, 6-3, 7-5, and Todd Martin of the 
United States beat Karel Novacek of the Czech Republic, 7-6 (7-5), 6-4. The winners advance to the quarterfinals. 

A 2d Chinese Swimmer Is Suspended 


LON DON (AP) — Chinese 
swimmer Lu Bin, who won four 
gold medals and set a world 
record at the Asian Games, has 
been suspended for two years 
for failing a drug test, the inter- 
national swimming federation, 
FINA, said Wednesday. 

The federation’* secretary, 
Gunnar Werner, said La tested 
positive for the banned sub- 
stance dehydrotestosterone in a 
random out-of-competition 
sampling Sept. 30 baore the 
start of October's Asian Games 
in Hiroshima, Japan. 


It’s the second positive test 
involving La. She was among 
seven Chinese swimmers who 
also tested positive for dehydro- 
testosterone during the Games. 

Lu was the second Chinese 
woman to fall a pre-Games test. 
The other was Yang Aihua. the 
world 400-meter freestyle 
champion, who tested positive 
for testosterone and was recent- 
ly suspended by the federation 
for two years. 

The suspensions will keep the 
two swimmers out of the 1996 
Olympics in Atlanta. 


Both Lu and Yang were also 
among 1 1 Chinese athletes, in- 
cluding seven swimmers, who 
failed doping tests during the 
Asian Games. Federation offi- 
cials, however, said Lu and 
Yang will be sanctioned for 
only (me positive test. 

Tbe federation said it was 
asking the Chinese swimming 
federation to investigate how 
Lu obtained tbe illegal sub- 
stances. 

At the World Championships 
in Rome in September, Lu won 
a gold medal m the 200-meter 


individual medley, two golds in 
relays and two silvers in the 100 
and 200 freestyle. 

At the Asian Games, Lu cap- 
tured four golds and two silvers 
and set a world record in the 
200 individual medley. FINA 
officials said Wednesday that 
Lu’s world record will not be 
recognized. 

However, Lu and Yang’s per- 
formances at the World Cham- 
pionships will stand because 
they passed drug tests in Rome 
and FINA does not impose ret- 
roactive punishments. 


Drugs and the Chinese Sports Machine 


By Steven Mufson 

Wadmgton feat Struct 

BEIJING — In the late 1950s, the Chi- 
nese Communist Party promoted a disas- 
trous program of economic growth under 
the slogan •‘More, faster, better, cheaper.” 

It might have been toe slogan for the 
1994 Chinese swim team. 

In both the “Great Leap Forward” of 
toe ’50s and the great splash forward of the 
'90s, the initial appearance of success was 
too good to be true. 

Last week, Japanese drug testers who 
took urine samples at toe Asian Games in 
Hiroshima in eariy October found that 11 
Chinese athletes had tested positive for 
drugs, including seven top Chinese swim- 
mers. Among them: swimming sensation 
Lu Bin, who won four gold and two silver 
medals in Hiroshima, and world champion 
swimmer YangAihua, now banned for two 
years. In all, China will be stripped of 22 
medals won at the Asian games. 

The reaction here to the news has been a 
cycle of recrimination and righ- 

teous indignation. The initial responses in 
China to the news from Japan went some- 
thinglflce this: 

• The test results from the Asian Games 
were premature and wouldn’t be con- 
firmed. The accusations were motivated by 
jealousy and racism, sports officials said. 

• The tests were part of a Japanese plot 
There’s plenty of bad feetiuK in China 
toward Japan, which invaded China in the 
1930s. The Beijing Youth Daily initially 
tried to cast doubt on the drug test results 


by noting that by eliminating so many 
Chinese medal winners, Japan would move 
up to second place from third place among 
the nations competing at the Asian Games. 

• The test results were accurate, but 
only a few misguided individuals took 
drags. Taking drugs to excel at sports is 
not national policy, officials say, and the 
Chinese spats machine is still an awesome 
power in international competition. 

A lot is at stake here. Like many other 
countries, China ha« integrated national 

NEWS ANALYSIS 

pride with the performance of top athletes. 
As a result, producing champion athletes 
and China’s push last year to bring the 
2000 Olympic Games to Bcajing becomes a 
matter of national mobilization. 

It is part of a drive by a China tiying to 


reassert what it regards as its rightful place 
as a world power in economics, politics, 
nuclear weapons and sports. And although 
the government is expending a lot of effort 
on gaining admission to the General 
Agreement on Tariffs and Trade, swim- 
ming times also have high priority. 

However, even after the Chinese Olym- 
pic Committee’s admission that the ath- 
letes did indeed take drags, a key question 
still lingered: Who is responsible? Was this 
a case comparable to the former East Ger- 
many, where taking drugs to enhance ath- 
letic prowess was part of a national cam- 
paign? 

The use of former East German coaches 
by China’s swimming team and the incred- 


ible number of athletes to test positive at 
one event certainly raises suspicions 
among other national teams. 

The question of responsibility in China 
has always been a tricky one. 

Here, China’s political history, like its 
old slogan, may be applicable. In the Great 
Leap Forward, Mao Zedong set overall 
policy goals and everyone from central 
planners to peasants tried to fill his unreal- 
istic expectations, even if that mean wild 
exaggeration. 

Later, when rural and industrial output 
estimates were slashed by a third or more, 
it was not dear who was responsible: Mao, 
or everyone beneath tom. 

Similarly, in official versions of China's 
Great Proletarian Cultural Revolution 
that started in 1966, blame is apportioned 
only gingerly. Mao made some mistakes, 
it’s generally said, but he was a great man. 
A handful of people misguided him. 

As for the thousands and millions of 
individuals who carded out inhumane ac- 
tions in mob violence during that time, 
very few people talk about a sense of 
responsibility. 

There is enough responsibility to go 
around, regardless of wbether taking drugs 
was part erf the team's plan. And without a 
dearer sense of responsibility — both on 
the part of tbe counties leaders and on the 
part of ordinary individuals who must car- 
ry out toe enters of leaders — China is 
destined to more scandals in sports, fi- 
nance and politics. 


! Compiled bj Ow Stag From Dispatches 

George Weah was toe hero as 
Paris-SL Germain completed a 
Champions’ League grand slam 
by drubbing Spartak Moscow 
4-1 on Wednesday. 

The big Liberian striker 
scored two brilliant individual 
goals and laid cm a third for 

EUROPEAN SOCCER 

David Ginola as the French 
champions, playing at home, 
made it six wins out of six in 
Group B. 

Brazilian midfielder Rai 
grabbed the fourth in a pulsat- 
ing performance that showed 
tbe Parisians have serious ambi- 
tions to become European 
champions in May. 

Spartak substitute Sergei Ro- 
dionov got a consolation goal 
for toe overwhelmed Russians 
shortly after Valeri Kechinov 
bad squandered a penalty, blaz- 
ing his spot-kick wide. 

Ajax Amsterdam 2, AEK Ath- 
ens 0: In Amsterdam, two goals 
from midfi elder Tank Oulida 
earned Ajax a comfortable vic- 
tory and sealed toe Dutch 
club’s unbeaten run in toe 
Champions’ League. 

Ajax had already secured toe 
top place in Group D. It was toe 
second double in the group for 
Ajax, which had twice beaten 
AC Milan earlier in the series. 

Ajax, unbeaten in all compe- 
titions this season, opened the 
scoring in the seventh minute 
when winger Marc Overmars 
crossed for Finnish striker Jari 
Litmanen to tee the ball up for 
Oulida. who beat goalkeeper 
Elios Atmatsidis with a right- 
foot shot 


Oulida, a Du tcb-Mor ocean 
who is bade after a long injury 
absence, was on target again 
late in the second half to round 
off a muted Ajax performance, 
pouncing on a loose ball to slot 
home from dose range. 

AC MBan I, Salzburg <h Ti- 
tleholders AC Milan soured a 
place in the quarterfinals of toe 
European Cup as it traveled to 
Vienna and won noth a solitary 
goal from Daniele Massaro. 

The Italian striker found toe 
net after 29 minutes to ensure 
that the Italian champions kept 
alive their hopes of a fourth 
final appearance in six years. 

Milan, beaten by Velez Sars- 
field of Argentina in the Inter- 
Continental Club champion- 
ship last week, overcame jet lag 
with some style. 

Beoflca I, Andertecht 1: SBva 
Edilson scored seven nrinmry 
from the final whistle to give 
Benfica a hard-fought draw a n d 
preserve its unbeaten record in 
a Group C match. 

Portugal’s Benfica was al- 
ready certain of winning the 
group and qualifying for the 
European Cup quarterfinals, 
while Belgium’s Anderlecht was 
already out of contention. 

Veteran Dutch defender 
Graeme Rutjes scored from 
close range in a goalmouth 
scramble four minutes after the 
interval to give Anderlecht a 1-0 
lead. 

But Edilson put the former 
European titleholders level in 
the 83d minute, netting from 
dose range. 

Bayern Munich 4, Dynamo 
Kiev 1: In Kiev, much-troubled 
Bayern Munich finally lived up 
to its potential, coming from 
behind to thrash Dynamo Kiev 


and secure a place in the quar- 
ter-finals of the European Cup. 

The Germans went 1-0 down 
in the 38th minute of the Group 
B match, but Christian Ner- 
linger scored a fine equalizer 
ana striker Jean- Pierre Papin 
wrapped up victory with two 
second-hair goals. Substitute 
Mehmet Scholl added a fourth. 

Barcelona I, IFK Gothenburg 
1: Barcelona, playing at borne, 
clinched the single point it 
needed to go through to the 
European Cup quarterfinals 
with a draw. 

The Spanish champions took 
the lead with a goal by captain 
Jos6 Bakero with just eight min- 
utes left in their Group A 
match. 

Sweden’s Gothenburg looked 
to be heading for its first defeat 
of this season's competition, 
but Stefan Rehn found a chink 
in toe Catalan defense to equal- 
ize with seconds left 

The draw left Gothenburg as 
group winner by three points 
from Barcelona and England’s 
Manchester United. 

Manchester United 4, Galata- 
saray (fc Manchester United 
scored an emphatic but ulti- 
mately hollow victory as its slim 
hopes of reaching the European 
Cup quarterfinals disappeared 
at Old Trafford. 

United, with seven first team 
regulars missing through injuiy 
or suspension, played superbly 
in the Group A match to beat 
the Turks for the first time in 
four meetings. 

But United missed out on a 
place in the last eight after fin- 
ishing third in Group A behind 
IFK Gothenburg and Barcelo- 
na, who drew 1-1. 


Although United and Barce- 
lona both finished with six 
points from their six Champi- 
ons’ League matches, Barcelona 
goes through because it drew 2- 
2 with United in England and 
beat it 4-0 at home. 

United could have advanced 
only if Barcelona had lost to 
Golhenbuig. 

Steam Bucharest 4, Hqjdak 
SpEt 1: Striker Adrian Die 
scored two of three goals in the 
opening 33 minutes to lead 
Steaua Bucharest to a victory in 
a Group C match. 

Despite the defeat and 
Steaua’s effective combination 
play, Croatia’s Hajduk has al- 
ready secured the quarterfinals 
in toe Champions League. 

Playing Split's Poljud stadi- 
um, Steaua went on the attack 
from the start, forcing Hajduk 
goalie Nenad Slavics to at 
least two key saves on shots by 
strikers Damian Militaru and 
Hie. 

In the 11th minute, llie 
scored his first goal with a pow- 
erful shot at tbe ball passed to 
him from the left by Steaua vet- 
eran striker Marius Locates. In 
the 23d minute, Lacatus found 
the net to put Steaua ahead Die 
again scored in toe 33d minute 
from just a half-meter out. 

(Reuters, AP) 

In a UEFA Cup maidi played 
Wednesday: 

Eintracht Frankfurt scored a 
second-leg 1-0 victory on the 
road against Napoli to clinch a 
berth in the UEFA Cup quar- 
terfinals, Reuters reported. 

The victoiy at Naples’ San 
Paolo stadium added to a 1-0 
fixst-leg win and qualified the 
German team on a 2-0 aggre- 
gate score. 


Ramos Weighs Risk on Soccer Field 


LONDON — He will be running alone 
or training with his teammates. He will be 
losing hims elf blissfully in his work and 
that’s when his head begins to a che again 
at the top of the skull, directly above tbe 
injury. It grabs Tab Ramos like a hand on 
his shoulder. 

He talks hims elf through iL The doctors 
have said it is fine for him to be playing 
soccer • 




though MLm 

there was Thomsen 
the one 

doctor. . . but he talks himself out of 
thinking such things and he gets on with iL 
Only it’s not the joy it used to be. 

“One doctor said to me that if I was a 
boxer, he would tell me to retire,” Ramos 
said the other day by telephone from 
Spain. “1 was told that if I get hit hard in 
the head is toe same place; there is a 
possibility of my right ride becoming 
numb. If that’s the case, then it’s not worth 
it for me.” 

He has received other opinions from 
enough doctors who believe be can play 
without such risk. It’s an uncomfortable 
time for him. He wants to forget all about it 
except for those rare dangerous moments 
when he wants to be aware. He wants to 
return to his outrageous ways and at the 
same time play carefully. There must be a 
way to do that He probably would prefer 
to decide his course privately, but his job 
doesn’t allow privacy. He knows he has 
achieved a certain celebrity for the way he 
was injured last summer. 

Tbe host U.S. team had qualified for toe 
second round of the World Cup against 
eventual champion Brazil on July 4, toe 
American Independence Day. For the first 
half Ramos was tbe best American player 
on the field. He had been frustrated by 
tactics in the first-round matches, but now 
he was controlling the ball when the Amer- 
icans could hold onto iL The Brazilians 




were vastly superior, but what little Ameri- 
can spunk there was came from Ramos. 
Near the end of toe half he was contesting 
with the Brazilian Leonardo. Ramos 
grabbed his shirt and Leonardo responded 
with an elbow. Then Ramos heard the 
sound of a train pasring by. 

“Maybe I was unconscious for just a 
second,” Ramos said. “When I hit the 
ground I realized where 1 was and what 
had happened. So many thing s were going 
through my mind just in those seconds. I 
was like, oh, God, I can’t move my legs and 
my arms, what’s my wife going to do with 
me?” 

He has seen himself on the videotape 
writhing and shaking on the ground, so he 
knows be recovered his senses in three or 
four seconds. He has memorized the replay 
after dozens of viewings, which probably 
has the awkward effect of forcing him to 
see himself as others saw him. He has 
shared in their experience of his acddenL 
When he notices people watching him play, 
people who obviously remember toe slow- 
motion impact of the elbow and tbe 
stretcher carrying him to the ambulance, 
does it not replay the dreadful images in his 
own mind? He probably would be better 
off if there hadn’t been any television. 

“It’s toe idea of knowing that’s some- 
thing wrong with your brain," he said. 
“That was toe reason I had to stay in the 
hospital, because there was blood in my 
brain from the blow, and if it hadn’t 
cleared up they would have had to go in 
and operate.” 

Leonardo visited him in the hospital, 
crying and sorry. Leonardo was banned 
from the rest of toe World Cup, and Ra- 
mos believes the video shows that toe el- 
bow was intentional Yet be does not seem 
to blame his opponent for the fracture of 
his skull above toe car and all of the ensu- 
ing dilemmas, for Ramos admittedly has 
thrown such elbows. 

Neither does he appear to fed pify for 
himself. He returned to Spain in mid-Au- 


gust with his wife, Amy, to find that his 
dub of three years. Red Beds, had taken 
an seven foreign players, all of them 
capped by their countries. Only three can 
play at one time. He has spent most of toe 
time recovering and regaining fitness, but 
the opportunity to prove some things to 
himself on toe field has been delayed by 
tbe success of his club, ranked fifth in toe 
first divirion after earning promotion last 
spring. At most, Ramos has played one 
half against a second-division team. 

In one sense these things happen all the 
time, he says — players are always losing 
and regaining their positions. The signing 
period reopens in two weeks and he wifi 
look for a new team or at least a chance to 
play on loan. He has already turned down 
offers to move to the Spanish second divi- 
sion, or to Portugal. Wouldn’t be be play- 
ing if not for his injury? He says toe lugger 
issue is how he chooses to respond. He has 
done as much as be can to recover without 
playing. The final recovery can happen 
only an toe field. AD injured players have 
to decide how they’re going to play a gain 

Ramos recovered from knee surgery in 
1993. He said, “We’re not talking about a 
knee iiguiy, where you say the knee still 
hurts but I still have to go out and do my 
best and take my chances, and if toe knee's 
going to blow out, it’s going to blow ouL 
We’re talking about my head. It’s not the 
kind of thing I'm going to completely for- 
BP- 

“Tve done some headers in practice, and 
it feels OJC But whenever we get in a 
defensive wall. I'm going lo try not to be in 
it, because if toe ball’s coming straight at 
my head, 1 might try to duck.” 

At 28, with toe experience of two World 
Cups behind him, he ought to be peaking 
He stDl migh t. He says he has grown up 
overnight and maybe he wffl be a better 
player for it But there are times, he admits, 
when he bends down for a pen or an 
envelope that has fallen underneath a ta- 
ble, ana standing up he flinches. 


CROSSWORD 


Maradona Resigns as Club’s Coach SgEI 


ing body, after testing positive for a banned stimulant 
last summer's World Cup in the United States. 


ACROSS 10 60’s singer 

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dinner table 
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as "l didn’t know 
that* 

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situations 

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Ramirez et al. 

34 Charles G. 

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37 Served wbII 
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Ronnie etal. 

38 Handful of hay 

40 Stimpy's TV pal 

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Australia 

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© Afew York Times/ Edited by Will Shorts. 


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BUENOS AIRES, Argentina (AP) — Diego Maradona, his 
team in danger of being relegated to toe second division, resigned 
Tuesday as coach of the Argentine soccer dub Deportivo Man- 
diyu, ating problems with the team president. 

Maradona, speaking a news conference, said dub president 
Roberto Cruz came to the dressing room after last Saturday’s 
game and “said things he should not have said.” Maradona did 
not elaborate. Mandiyu is 1-5-5 since Maradona became coach 
Sept. 9. The team is based in Comentes, 1,075 kilometers (670 
miles) north of Buenos Aires. 

Maradona, 34, is banned from playing by FIFA, world soccer’s 


All-Women Crew to Face Conner 

SAN DIEGO (AP) — America 3*s historic all- women sailing 
team will face Dennis Conner in tbe first race of the first round 
robin of the America’s Cup defender trials on Jan. 12. 

The Maine-based PACT 95 will debut on Jan. 13 in a race 
against Conner, and America3 wiD sail against PACT 95 on Jan. 
14. The nmo-race first round continues through Jan. 20. Conner 
has won the America’s Cup three times and lost it once. America3 
defended the Cup in 1992 with a male crew. 


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Page 24- 

ART BUCHWALD 


The Sizzling Speaker 


W ASHINGTON — Newt 
Gingrich is not only going 
to be the speaker of the House, 
he could also become a sizzling 
notion writer. This means that 
the counby will be getting a 
twofer. 

In his latest book he de- 
scribes a beautiful spy in a 


my 

with the White 
House chief of 
staff. 

Excerpt.' 

“Suddenly the 
pouting sex 
kitten became 
Diana the 
huntress — she 
rolled onto 
him and some- 
how was sit- 
ting athwart his chest, her knees 

pinnin g bis shoulders. Tell me 

or I’ll do terrible things,’ she 
hissed.” 



Budhwald 


It so happens that I have 
been writing a fiction book on a 
speaker of the House who gets 
seduced by his own manipula- 
tion and becomes a sex slave to 
his ambition. 


□ 

I haven't finished the entire 
Erst draft yet, but I have com- 
pleted several of the hot scenes 
that will help sell the book. 

“The speaker walked into the 
bathroom of his private office 
and looked in the minor. He 
liked what he saw. T have a 
contract with America,' be said. 
'And I will seduce her with per- 
suasion or whatever else it 
takes.’ 


Stolen Vases Recovered 
By the Vatican Museum 

Reuters 

VATICAN CITY — Three 
ancient Greek vases stolen from 
the Vatican Museum last June 
have been recovered, the muse- 
um said Wednesday. 

Italian police gave no further 
details. 


“He heard a breathless voice 
whisper in his ear, ‘Don’t stop, 
don’t stop, please don’t stop.’ 

“The speaker combed his 
curly silver hair. He liked what 
he saw. Tm in favor of family 
values, but at the same lime I 
would love to ravage the wel- 
fare system and violate every 
government program inside the 
Beltway.' 

“The female voice whispered, 
Ts it as good for you as it is for 
me?’ 

“Newt took off his shirt and 
studied the hair on his chest In 
January they would all know 
what kind or man he really was. 
He examined the rippling mus- 
cles in his arms, dreaming of 
how deep they would slash the 
budget He liked what he saw. 

“ ‘If I don't get prayer back 
in the public schools, I will walk 
out of the House forever.’ 

“The voice cried, ‘Don’t leave 
me like this. You're the only 
one I've ever loved. Besides, I 
want your baby.’ 

“Newt grinned. 'You can 
have it because Tm going to 
pass a constitutional amend- 
ment forbidding all abortion. 
You can always put it in an 
orphanage.’ 

D 

“The speaker said to the mir- 
ror, ‘Do you think that I will be 
criticized for writing soft pom? 1 

“He answered his own ques- 
tion: Tt doesn’t matter what 
they think. As speaker I am top 
dog.' 

“Newt took a freshly pressed 
suit from his closet and put it 
on. The female voice cried, 
‘Will you come back?’ 

“Soon. I have to make love to 
the NRA people so that we can 
get sham eless pleasure from 
gutting the crime bill.’ 

“ ‘I never felt this way about 
anyone before,' she said breath- 
lessly. ‘Did the Earth move for 
you?’ 

“ Tt did. Which reminds me I 
have to do something about the 
Environmental Protection 
Agency.’ *’ 



INTERNATIONAL HERALD TRIBUNE, THURSDAY, DECEMBER 8, 1994 


‘Disclosure’: Really, They Say, It’s Just a Movie 


By Bernard Weinraub 

flew York Times Service 

L OS ANGELES — The fact that 
Hollywood's first high-profile 
film about sexual harassment in- 
volves a woman harassing a man 
leaves its creators and stars uneasy 
and a bit defensive. 

“We’re making a movie, not an 
issue," said Michael Douglas, a star 
of “Disclosure,” the adaptation of 
the Michael Crichton suspense thrill- 
er about corporate intrigue and sexu- 
al politics, which open Friday In the 
United Stales. “It’s really about the 
use of harassment as a tool for pow- 
er. And it’s very effective in terms of 
allowing people to look at the issue 
from the other side." 

“Disclosure,” which is directed by 
Barry Levinson, also stars Demi 
Moore as an ambitious and venal 
corporate executive on the rise and 
Donald Sutherland as her boss in a 
cutting-edge computer company. 
The plot involves a married Seattle 
executive, played by Douglas, whose 
expectation of a promotion is shat- 
tered when he’s passed over in favor 
of a cool, smart and ferociously am- 
bitious executive (played by Moore) 
from the company’s Silicon Valley 
headquarters. Ten years earlier, the 
two had had an affair. 

When the Moore character aggres- 
sively seeks to resume the affair, and is 
rejected, she promptly charges him 
with sexual harassment and seeks to 
destroy him. The film was adapted by 
Paul Attanasio, the screenwriter for 
“Quiz Show,” who has turned it into a 
high-tech suspense thriller, complete 
with a virtual-reality sequence. 

For Levinson, the Academy 
Award-winning director (for “Rain 
Man,"), the film is dearly an effort to 
take on a commercial, star-driven ven- 
ture and get his career back on track 
after such recent high-profile flops as 
“Toys" and “Jimmy Hollywood." 

For Douglas, the movie presents 
yet one more role in a highly success- 
ful career in which he depicts ordi- 
nary men in extraordinary situations. 
(“Actually I did some of this role in 
‘Fatal Attraction."’ he said. “But 
that was 10 years ago.") 

And for Moore, the role of Mer- 


Karin Aadankm for The New York Trnxa 


Director Barry Levinson (center) with Demi Moore and Michael Douglas, the stars of “Disclosure.’ 


edith Johnson in “Disclosure” serves 
as a potential breakthrough into the 
top echelon of movie stars. Moore 
got the part after Annette Bening 
became pregnant and dropped out. 

“In truth, I was terrified," Moore 
said. “Her nature is so different than 
mine," she said of the character she 
plays. “I didn’t want to make her 
stereotypical. I didn't want to fall 
into the obvious trap of evil seduc- 
tress. It's such a rich part: the com- 
plexities are endless. And in the end, 


she’s probably a lot smarter than 
most of the people around her and I 
think really good at her job. We all 
know women and men like this. Ma- 
nipulative. Dishonest She enjoys 
pushing buttons and watching peo- 

E le’s discomfort She's not out to 
urt anybody as long as nothing gets 
in her way . 

Moore said the sexual harassment 
issue, and the male-female reversal in 
the movie, deepened the film’s high- 
speed plot. 


“This is a dynamic way of dealing 
with a volatile issue." she said. “The 
fact that the roles are switched pro- 
vides us, I thinly with a certain 
heightened sensitivity and awareness 
of this issue." 

“Disclosure" is hardly the first 
film to deal with harassment and 
sexual politics; last month, for in-, 
stance, David Mamet’s “Oleaima" 
was released, but it is the first high- 
profile movie with big stars to try to 
tackle the issue. 


Levinson said over breakfast one 
morning recently that the male*fe- 
male reversal fascinated him. “Some- 
how if you flip the roles, you have to 
pay attention," be said. “The film 
was a way to look at all of this in a 
fresh light and see how difficult it is 
for anybody to say, ‘I have a prob- 
lem; this is what happened.’ And 
knowing how dangerous it is for your 
life and reputation." 

Acknowledging that "Disclosure” 
had become more of a thriller than 
an exploration of sexual politics, he 
said: “It’s not a polemic; it's not the 
definitive film on sexual harassment. 
If that’s what someone wants, they’ll 
have to look else where.” 

The film is considered to have 
some of the best women's roles in 
years, however, including the perfor- 
mance of a New York-based actress, 
Roma Maffia. as Douglas's lawyer. 

As to Moore's character, Levinson 
said; “Some people look on her as a 

villain-villain. And I thought. ‘Wait a 
minute.’ If this was .a movie about a 
man harassing a woman, we'd never 
look on the guy in the same way. He 
wouldn't be such a villain. There are 
some cutthroat business executives 
out there. The fact that a woman 
does it makes her even more villain- 
ous." 

The often tangled relations be- 
tween men and women have been 
central to most of Levinson's films, 
which included “Diner,” “Tin Men,” 
“Good Morning Vietnam" and 
“Bugsy." 

“The whole struggle between men 
and women, the struggle to under- 
stand one another, the "frustration we 
have with one another have been 
themes in pretty much everything 
I’ve ever done,” Levinson said. 

As to Douglas, the role of Tom 
Sanders in '‘Disclosure'’ is one more 
pan in which the actor plays a raore- 
or-less average man caught up with 
beautiful, dangerous women, from 
Glenn Cose (“Fatal Attraction") to 
Sharon Stone (“Basic Instinct”) to 
Moore. Tough work; but somebody's 
got to be the victim. 

“The part was pretty close to me,” 
he said in a telephone interview. “I 
could be that person. I didn't have to 
put on a mask." 


WEATHER 


PEOPLE 


Europe 


Today 





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Forecast for Friday through Sunday, as provided by Accu-Weather. 



******' 

JaWtnMun 

North America 
Now Yorti and Washington, 
D.C., will be dry and chilly 
Friday. Some rain <9 likely 
Saturday; It may end as 
snow or Hurries Sunday. 
Toronto and Chicago will 
have ram or snow Friday Into 
Saturday loRowed by dry and 
cold weather Sunday. Dry 
weather is Rkely through the 
weekend In Los Angeles. 


Europe 

Windy, wet wealtier will 
stretch from England 10 
Bailie Sea areas through the 
weekend. Some showers wMl 
move Into France and Ger- 
many. especially Friday and 
perhaps again Sunday. Gen- 
erally dry weather vrfl prevai 
along the Mediterranean 
coastal areas from Spain to 
Italy. 


Asia 

Flaki will fall across Japan 
Friday and perhaps again 
Sunday, but Saturday wfi be 
cool and dry. Korea will dry 
out Friday and remain dry 
through Saturday. Showers 
win occur close to and south 
of Hong Kong and Hanoi. 
Showers and thundershow- 
ers will affect Singapore at 
times. 


Middle East 


Latin America 


Today 

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B AD news for the tabloid press: Burt 
Reynolds says his spat with Loni An- 
derson is over. After two tense days in 
court, Reynolds has agreed to pay his ex- 
wife an undisclosed amount of monthly 
child support for their adopted 6-year-old 
son, Quinton. “This saga is over. Let's put 
it to bed. I’m very happy we were able to 
sell papers for a year," Reynolds said of 
their messy separation and divorce. Out- 
side the courthouse, Reynolds and An- 
derson warmly embraced. Reynolds, 58, 
got the $4 million ranch in Florida and a 
$2 million waterfront mansion. Ander- 
son, 48, got $2 million over five years to 
pay for her new home and $11,000 a 
month in alimony. 

□ 

What may be this century’s best-known 
bird has been auctioned off. The Maltese 
falcon, the central prop in the classic 1941 
movie, was bought for $398,500 by Ronald 
Winston, president of Harry Winston jew- 
elers in New York. The object is about a 
foot (30 centimeters) high and weighs 
about 50 pounds (22 kilograms). ... Se- 
parately, an unidentified American collec- 
tor has paid $550,000 for the hunting rifle 
that Theodore Roosevelt took with him on 



AgoMc Franco-Prase 

Anderson and Reynolds leaving court 


safari The rifle was made to Roosevelt’s 
specifications by the London gunmaker 
Holland & Holland for the former presi- 
dent’s 1909-10 safari The rifle, auctioned 


in San Francisco, has been called perhaps 
the finest ever made. 

□ 

Prince Andrew has invited his estranged 
wife, the Duchess of York, to move bad: 
into their marital home while she is looking 
for new quarters after her rented house is 
sold, a British tabloid says. The Sun sqjfe 
Queen Elizabeth's second son was still 
hoping for a reconciliation with his wife. 
O 

Sylvester Stallone and Arnold Schwar- 
zenegger are molly-coddled wimps, afraid 
to do their own stunts, says Jackie Chan, 
the Hong Kong movie star. “I don’t use 
stunt men,” said Chan, 40, who has broken 
20 bones leaping from speeding cars and 
diving from buildings in his acuon films. 
□ 

Spike Lee, the director whose movies 
include “Malcolm X.” has become a father 
for the first time. His wife, Tonya Lewis, a 
Washington lawyer, has given birth to a Z9 
kilogram (6.5-pound) daughter named 
Satchel. Lee is currently working on a 
movie about Jackie Robinson, major 
league baseball’s first black player. On 
becoming a father? “i’m, still at a loss for. 
words." 



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430-433 

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KOREA 

. .. 089-11 

I MAI LAND* . 

..oois-wi-ini 

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0800-111 

EUROPE 

MALAYSIA' . 

. . 880-0011 

ARMENIA'' 

.. 8014111 


Austria™. . . 

022-903-011 

HUNGARY' 

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D-800 -100-10 

ICELAND". - 

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5ULGARIA. .. 

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CROATIA" 

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ITALY' 

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CZECH REPUBLIC. 

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LIECHTENSTEIN* 

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DENMARK'. .. 

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. 190-0011 

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. 0800-H90-110 

GERMANY 

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NETHERLANDS* 

88-022-9111 


NORWAY 

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000-90010 

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155-00-11 

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