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Paris, Tuesday, January 4, 1994 


No. 3*1.476 


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otiator 


Palestinian Group Urges Him to Quit ; 
Hussein Says He Reneged on Promises 


By Youssef M. Ibrahim ‘ 

^ *’"• *•* Tima Service 

vS^Pi'Zl^ ^ twcen Israc l and the 
Pakstrae ^Tiemon qjgamzmion appeared 

IO ^ TOz 9 n sraid a growing chorus 
of raocorand recrimination flushing out ac~ 
-curoulated frustrations. . 

TheM have surfaced accmdy not only bo- 
twera Palesmuamand IshwBs, botifcoincre 
«wdly between Jordan and the PLO T -amont 
Palestz m a m s themselves and, to some am 
within Israel's governing Labor. Party coali- 
tion. 

Over the weekend. Prime ministei Yitzhak 
Rabin accused the PLO of duplicity and 
wondoed aloud if any agreement with the 
group was valid He said he would suspend 
the talks to make Palestinians “sweat it oat.” 

King Hussein of Jordan delivered a virtual 
ultima turn to the PLO either to coordinate its 
actions with Jordan or to face unspecified 
unilateral decisions by Amman. 

And one of the most charismatic figures 
among Palestinians, Haidar Abdel-Shafi, the 
Gaza physician who led the Palestinian dele- 
gation at the 19$1 Madrid conference, trav- 
eled to the Tunis headquarters of the PLO 
chairman, Yasser Arafat, to ask him to step 
aside. 

- L ea ding a delegation of seven prominent 


Palestinians,, Me. Abdd-Shafi arrived In Tu- 
nis oh Sunday carrying a petition signed by 
118 Palestinian figures m the hracti-occnpicd 
Gaza Strip and the West B *"V ^Hrnnehig in 
harsh toms Mr. Arafat's autocratic style and 
mediocre- ma n agem ent of the transition to 
self-rule that is the (Meet of the talks. 

The petitioners said ran had had enough 

~ ' NEWS ANALYSIS 

of comtption and nepotism in the PLO and 
of Mr. Arafat's- chaotic negotiations. They 
demanded “democratic practices” lhav take 
into account yiews Of the Pales tinians who 
have lived under IsraeB occupation for the 
past 26 years, ’• 

‘ While much of the attention seemed fo- 
cused on Mr. Arafat's unquestionable short- 
comings. the overall anger reflects other 
problems that have simmered for some time, 
not the least of which is the deep distrust 
between all the parties concerned. 

Israel claimed- that Mr. A/a fat reneged on 
an ag reeme n t worked out last week in Cairo 
between Foreign Minister Shimon Peres and 
the chief PLO negotiator, Mahmoud Abbas. 

Attfaeend of those talks, Mr. Peres said at 
..a press conference that there was a “meeting 

See PEACE, Page 6 



f.n> Si*LM»n: Atnwt F«as.r Pir.* 

Jews, inchutmg a large number of settle^ praying Monday in Jerusalem during a service devoted to IsraeE security . 

1 G- 7 Now Lags More Than Leads 


By Roger Cohen v , : ; 

New York Tima Service / 

PARK — Remember, the G-7, the group of' migar indus- 
trialized nations that gathers every year iii circumstances of 
considerable pomp to, dream up new . inspiration Tor the. 
wodd economy?!! is now Clear that the institution. arid the 
view of the world that went wjthju, are fast going oat of 
fashion. ■: ‘ - ■ 

The reasons, areaxTOpte Tbebuft of the G-7 that 
.is. Western Europe and Japan — is m aneonnonric trough 
deep enough to preclude Tajad recovery in 1994 or even 
1995. Areas of . growth and real econocric oppornmity in-: 


creatimly fie in Latin America and Asia outride Japan. 

The United States, the one major Western nation showing 
fairly robust growth, has already drawn its conclusions. 

- -The Clinton administration shifted America’s traditional 
foreign policy focus in 1993. southward to Mexico through 

NEWB ANALYSIS 

the North American Free Trade Agreement and eastward to 
the Pacific through a summi t meeting of the 15-nation Asia- 
Pacific-Economic Cooperation forum. 

These trends will continue in 1994. They will offer busi- 
nesses and investors who are not risk-averse opportunities m 


Asia, particularly China, and in Latin America; and they 
will provide cynics with more evidence of the growing 
supremacy of trade interests in global diplomacy. 

One in every six aircraf t built by Boeing Co. is now bought 
by China; President Bill Clinton will therefore, probably 
find a way to renew China's mcsi-favored-nauon trading, 
status in June, despite qualms about human rights. Somalia! 
Bosnia and Haiti do not buy many jets or semiconductors: 
They will be quietly forgotten if possible. 

The policy is known as economic security: that is. 
harnessing America's diplomacy to the creation of jobs 
and turning a blind eye to certain wars. It is a significant 


shi/L and the implications are just beginning to unfold. 

One is already clear: No major economic or political 
initiatives are to be expected in Eastern Europe, where 
fudging will remain the order of the day. as wary eves arc 
fixed on Russia. That is bad news for Western Europe, still 
struggling to emerge from recession and desperately needing 
a spur from its underdeveloped eastern hinterland. 

Growth of no more than 1 percent in Western Europe is to 
be expected in 1994. and that thanks only to Britain, where 
growth will reach 15 percent. 

Soaring unemployment and the growing cost of the wel- 

See G-7, Page 11 


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• ’Uumaiicmaf ffansld THfrutw- - • / .- 

Peng! of China smS^i!d6^^^^^^^ed-Moitday;tiiai 
Beijing would try to riow.epoposuc growth to 9 percent in 
1994 from ,13.petcent last you as* further ‘opens- to the 
outside world. :>v .’•‘T'-i 

Mr. _Ii xedkated that BoqiQg wocld continue with its 
innovations that hare ffi toantied wiiieh of tbe ccmmumsi 
system, espedafty tn its econon^, hut that it would more 

carefully:--.- ; ' \ :•'* ' 


to 9% in ’94 


"S. : : 3- ; “The better our atuation, the more cautious we should be rate of 21.9 percent in China’s urban areas in November. 

. in pushing forward the reform drive,” Mr. Li, one of the x , r . . ...... . . , . 

prices piwiw cbuntiVs most -senior leaders; said in a rare and unusually ^ g ,4 1 Unii ? <: ^ 

ZMnSu candid interview in the official China Daily. lhc c f astal ^ «« or Chna had 

iciwimsig ij. ^ , _ j... . .... widened, to the interiors disadvantage, but he rejectee 




‘Too-rapui strides in price reform would cause instability, 
'arid the recentporic buying of grain in some areas is a lesson 
to aUdf -us," he said, referring ton recent nish for staple 
foods in coastal areas by consumers attempting to beat a 
value added lax that was implemented Saturday. 

: China Daily repeated that prices of grain and other foods 
had risen by about 30 percent since November in most of 
the coastal provinces. Overall, inflation reached an annual 


widened, to the interior's disadvantage, but he rejected 
widespread warnings that this could eventually lead to a 
splitting of the country. 

“Their expectations will surely come to nothing." Mr. Li 
said of those forecasting a China shattered along regional 
and economic lines. 

Mr. LTs health diminished his role In government for 
some lime last year, as bean problems kept his activities to a 


minimum when China's leadership first sought to bring the 
economy's inflationary boom under control. 

As that effort has progressed, statements from Beijing 
have combined high-level calls for growth that invoke the 
name of senior leader Deng Xiaoping with pleas to contain 
inflation, complicating any assessment of China's economic 
health. 

The State Council that governs China has underestimated 
the country’s growth prospects in the previous two years, 
with near-chaotic consequences. 

An austerity drive announced in Julv and led by Deputy- 

See CHINA, Page 12 


Kiosk 



HU FOR POOR:~ AnsfrafiaVop* 
to the boundaty MM&y iira test c 
Slater’s 92 rans Mped Australia to a 


vcotlmgthebafl 
jjrtek in Sydney. 


Clinton Hans No New Aid lot Russia 


r.:.. WASHlNCTpN (Reuters)— 'fl^White Qunmf 
* "House said Mondiy thafPresKtot ^BiB umr - Mada* amy troop 
ton was not planning in announce any m^or rebels in u 

, ww aid for ^ TV Urted Sute e 


' wouW seek io make sure assistance ateag 


Ut&am ^ pledged 
r itS bilfion in aid to Russia.. . . , 

- Myas said Wadiingion wanted, to 

“continue to work with tire Russians to en- 
courage ibem on the roatTto danoaaoc and 
- fr. ‘‘find wavs 


Mexican army troopers step up tire hunt for 
peasant rebels in the scam. Phge Z 
The United States opened a painful inquiry 
into its radiation testing. Page 3. 

Business/ Finance 

~V£. om& K tmm suponed output «pan- 
<jon in December. Page 9. 

French hanks cut interest rates to a 20-year 
low! -■ Page 1L 


we can Into them in that transition. She swd 
the UniM States already was involved sath 

theRuffl^meponomic,envOTimiOTraiane 
energy initiatives- _ . ; 


Newsstand '- Price s ^ 

Andorra Luxembourg M IS Fr 

Aplflles — jT^p'FP; RiolS 

saudl Arobia„P-00 R. 
France.— -^OOFF Senego |„„.4S0CFA 

Gabon-— 480 CFA PTAS 

Greece Or. Tunisia 

Ivory CWBf-MO CFA Turkey-T-yj^co 

Lehonon _.USS U.S. MiUEurJ.CTJQ 


Book Review 
Chess ~ 
Crossword 
Weather 


FA- 

M 3,756£0 


Page 6, 
Paged 
Page 16c 
Page Id 


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110^8 @ 

pMtauBCtew 

1.7382 

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siti 


Russian Jetliner 
Crashes, Killing 
All 120 Aboard 


Compiled bv Our Sud f Firm Dispatches 

MOSCOW — A Russian passenger jet 
crashed and exploded in flames shortly after 
takeoff Monday from the Siberian city of Ir- 
kutsk. killing ah 120 people aboard, including 
17 foreigners. 

' It was the country's worst air disaster in 
nearly a decade and the second aviation disas- 
ter in eight days in the former Soviet Union, 
raising questions about the safety of the state- 
run Aeroflot airline and scores of smaller, spin- 
off companies. The Tu-154 jet that crashed 
belonged to Baikal Air. one of many new re- 
gional carriers. 

- Russian television reported that one person 
had been lulled on the ground, but officials 
-handling the emergency could not confirm the 
ropOTL 

The jet had just taken off on a regularly 
. scheduled -flight to Moscow. 4,000 ldhxmeiers 
{£500 miles) to' the west, when one of its three 
engines failed. - 

“the captain radioed the control tower that 
his No. 2 engine was on fire and be was turning 
around,'*; said Yekaterina Glebova, spokes- 
woman for the State ComnxiUee for Emergency 
Situations. ” 

“Then be radioed again and said that the 
engine was completely out and they had lost- 
control of the airplane," she said, adding, 
.“Then it just disappeared from the radar 
screen." 

The plane crashed in a snow-covered field at 
a livestock farm about 10 kflotoeiers from Ir- 
kutsk, a rity of 650J10Q just southwest of Lake 
BaikaL- Temperatures at the crash site were 
minus 20 degrees centigrade {minus 4 Fahren- 
heit). 

Russian television reported that a farmer hod 
been killed in the explosion and fire fed by the 
plane's fud tanks, which had been filled for the 
five-hour ffighuo Moscow. 

“There were no survivors,’’ Miss Glebova 
said. ‘‘The aircraft crashed and burned com- 
pletely." 

. Authorities said the jet was carrying 9 crew 

members and 1 ] 1 passengers. 

The Soviet-made Tu-154. a three-engine tur- 
bofanjet that can cany up to 180 passengers, is 
one of the mainstays of civil aviation in the 
former Soviet Union. 

Russian civil aviation must cope with dwin- 
dling supplies of spare parts, soaring costs and 
shortages of drilled workers. The air fleet is 

- aged. Aircraft often ran overloaded with pas- 
sengers or caigo because of a shortage of fuel 
that forces the cancellation of many nighis- 

(AP. Reuters) 


Walesa Says NATO Risks 
New Communist Threat 


By John Pomfret 

Wmhinfiiun Pntl SkT.wC 

WARSAW — President Lech Walesa 
named Monday that the world risked the 
re-emergence of the Soviet bloc and commu- 
nism if the Western powers did not take 
bold steps to include Poland. Hungary and 
the Czech Republic in NATO when its lead- 
ers meet next week. 

In an impassioned plea replete with his- 
torical allegory and no small measure of 
hyperbole, Mr. Walesa, 50. leader of his 
country's 1989 revolution, set forth his vi- 
sion of Eastern Europe as a region where the 
fight against totalitarianism has yei to be 
won. 

Interviewed in a huge, ornately furnished 
meeting room in his Belweder Palace. Mr. 
Walesa said that the leaders of the North 
Atlantic Treaty Organization would face the 
roost important decision in the alliance's 
history when they gather in Brussels next 
Monday and Tuesday. If the alliance does 
not carry out what Mr. Walesa said was its 
“duly” io expand, the ramifications of the 
derision wiD be felt in this rerion for years. 

Mr. Walesa said he could support the 
U.S.-led “Partnership for Peace" proposal, 
which sets a vague series of requirements 
and an unclear timetable for expanded 


NATO membership, only if NATO gave 
security guarantees to Eastern Europe with- 
in sit months and the European Union took 
concrete steps to bring Eastern Europe into 
its economic orbit. He called this concept 
“NATO peace." 

Despite increasing signs that NATO will 
reject any immediate expansion. Mr. Walesa 
criticized a go-slow approach advocated in 
Western capitals as both "short-sighted and 
irresponsible." He also warned that the 
West’s failure to lake Eastern Europe’s secu- 
rity interests to heart could spark the cre- 
ation of an alliance among countries in the 
region, beaded possibly by Ukraine, which 
has yet to disarm its 1.700 nuclear warheads. 

“Why should the Ukraine disarm?" he 
asked at one poiot. 

Throughout the bourlong interview. Mr. 
Walesa returned repeatedly to two dates in 
Polish history: 1939. wben Nazi forces 
launched their hliukrieg, and 1945, when 
Allied forces at the Yalta conference agreed 
to give Stalin sway over Eastern Europe. 

“I won’t be satisfied if 50 years from now 
they say I was right," Mr. Walesa said. “We 
kept crying and shouting in 1939, but they 
only believed us wben the war reached Paris 

See WALESA, Page 6 


Seoul Reports 
U.S. Is Near 
Recognition 
Of the North 

American Official Says 
Deal Is Taking Shape on 
Defusing Nuclear Crisis 

CtiKp;ltJ Our Staff Fnvi Dupo!> foi 
SEOUL — South Korea’s foreign minister 
said Monday that his country was prepanne for 
the possibility of diplomatic recognition of 
North Korea by Washington and Tokyo as pan 
of a deal to defuse the crisis over Nonh Korea’s 
suspected nuclear weapons program. 

“We plan to establish measures in prepara- 
tion for that possibility." Foreign Minister Han 
Sung Joo said. 

His comments coincided with a report by the 
South Korean news agency Yonhap that’ said 
North Korea had appointed top officials, in- 
cluding a brother of President Kim il Sung, to 
prepare for a sudden settlement of its dispute 
with Washington and Tokyo. 

And in Washington, a senior American offi- 
cial said a deal on Pyongyang’s nuclear pro- 
gram could be wrapped up this week. The 
official said that there were some issues that the 
International Atomic Energy Agency must ad- 
dress. and that this was being done "soon, 
quickly.” Bui he added that, probably, no fur- 
ther meetings between UJ5. and North Korea 
negotiators were needed. 

While he held out the possibility that discus- 
sions could extend a bit longer, the official went 
further than U.S. officials have previously in 
raising expectations that a deal was close at 
hand. Asked if he expected agreement this 
week, the official said: "lL could be." 

The comment-. Monday came after a series of 
optimistic reports last week signaling a break- 
through in the nuclear impasse. Washington 
has been leading an effort to persuade North 
Korea to open it s nuclear facilities to interna- 
tional inspection. The CLA believes Pyongyang 
may have produced one and possibly two nu- 
clear weapons. 

The reports Monday indicated that the nine- 
month tussle with Pyongyang over fears raised 
by the North’s threat to pull out of the Nuclear 
Nonproliferation T reaty would end with a deal. 

Yonhap quoted an unidentified South Kore- 
an government official as saying that “the Unit- 
ed Slates and North Korea have virtually 
agreed on a package deal to resolve the nuclear 
issue." 

After one more informal contact this week, 
according to this official, the United States and 
North Korea will hand the issue to the Interna- 
tional Atomic Energy Agency. The agency, a 
United Nations nuclear watchdog body based 
in Vienna, would would work out details of 
inspection rales with North Korea and send an 
inspection team as early as next week. 

Once the inspection team arrives in North 
Korea, the official said, the United States 
would announce the cancellation of annual 
joint military exercises with South Korea and 
set a timetable for talks on impairing political 
ties with the North. 

Cancellation of the joint U.S.-Souib Korea 
exercises is an old North Korean demand. The 
North regards the annual exercises as a rehears- 
al for war against it. 

The deal also calls for the North to reopen 
dialogue with Seoul on denuclearizing the Ko- 
rean Peninsula, the official said The sequence 
of all such events are expected to lake place by 
February. 

Yonhap quoted the official as saving that the 
North Korean Communist Party had named 
two special top-level teams to cope with “a 
sudden and rapid rapprochement" with Tokyo. 
Washington and Seoul. The United States’ is 
still technically at war with North Korea, and 
Japan does not recognize the isolated regime. 

There was no official or independent confir- 
mation of the detailed Yonhap report, the first 
of its kind, which tended to buttress separate 
reports of a breakthrough in low-level talks 
between Washington and Pyongyang in New 
York. But South Korean officials appeared 
more optimistic than ever before that the long- 
running tension with North Korea would soon 
be eased. 

The report named Kim Yong Ju. the recently 
reinstated younger brother of the North Kore- 
an leader. Kim 11 Sung, 81. as being in charge of 
both North Korean teams. The teams are “simi- 
lar to the task forces that China formed to 
prepare with normalization of diplomatic ties" 
in the 1970s. the official told Yonhap. 

The special team for South Korean affairs is 
beaded by Kim Yong Ju and Kim Dal Hyon, 
who was 'recently dismissed as state planning 
commission chairman and deputy prime minis- 
ter, the official was quoted as saying. 

The official identified the key North Korean 
figures on the team dealing with U.S. ties as 
Hwang Jang Yop and Kim Yong Sun, a parly 
secretary. Mr. Hwang, recently named chair- 

See KOREA, Page 6 


A New Lease on Life - With Regrets 

Psychologists Explore the Benefits of Looking Backward 


By Lynda Edwards 

.Vf» fist Tiim Service 

NEW YORK — For eight years, the evenings of Dr. Thomas 
Gilovich were often filled with furious, bitter people — children 
exploding with hatted of parents, workers and bosses warring, crimi- 
nals smirking at victims they had rained. 

Beginning in 1983. Dr. Gilovich. an associate professor of psychol- 
ogy at Cornell University, was a volunteer at the Community Dispute 
Resolution Center in Ithaca, New York. And that was where he first 
noticed the phenomenon he called “the regret window .“ 

Wbai opened the window seemed completely unpredictable — a 
casual remark, a glimpse of a face, a thorny question — but suddenly 
a participant in a session would look distracted. 

The voice would suddenly sound tight, as if throat muscles were 
stiffening, and the ga/e would drift and then fix in the distance as if on 
a scene playing out beyond an invisible window. 

“What were you looking at?" Dr. Gilovich asked the first person he 
saw doing this. “Lost life.” the mao replied. What it revealed were 


regrets — what Dr. Gilovich calls “the lost lives, lost selves a person 
could have lived or been if he had done a few things differently." 

Dr. Gilovich stresses that he has not scientifically proven the 
existence of the regret window, but in 1 99 1 his observations led him to 
begin work on it 

He received a grant that year from the National Institute of Menial 
Health in Washington to study aspects of decision-making, including 
regret. Also staking out this territory is Dr. Janet I-anHman a 
professor of psychology at the University of Michigan. 

There is actually good news about regret, and it is especially 
welcome now, as lhe stockpiled regrets of the past year are confronted 
and resolutions are made Scientists said that regret can be a form of 
creative thought, motivating people to improve their live. 

Psychologists classify regret as a complex emotion, as opposed to 
basic ones of anger, fear and happiness. 

“Nondinical depressive realism" is a native-sounding name ihnt 
See REGRETS, Page 3 





Page 2 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY 4, 1994 v 


. . , , ; 1 Mexican Soldiers 


WORLD BRIEFS 



Hunt Indian Rebels Bonn Reco^dere 

"• ■. BONN. CAP) — Tie workfcannot ignore the Rosa^, 

X Til 1 TT J ‘ . Vbd»nirV.2!WrinflN^andtl»G«Bito»weaiiMtmowa«.l^^K> 

In Bloody Uprising . 


Tl 




Zara Miner UK ftnotiued fttn 


A Bosnian Serb aiming a recotltess rifle toward Bosnian Croatian positions near where the forces face each other in Croatia. 


Zagreb Threatens Bosnia Intervention 


By John Kifner 

New York Tima Service 

ZAGREB. Croatia — Faced with Muslim 
advances against their separatist proxy mili- 
tia in central Bosnia, leaders of the Croatian 
government are threatening direct military 
intervention. 

With another set of Balkan peace talks 
scheduled in two weeks in Geneva, Croatian 
officials have begun a campaign to focus 
attention on the strategic Lasva valley north- 
west of Sarajevo, where troops loyal to the 
Muslim-dominated Bosnian government 
have surrounded about 65,000 Croats, mostly 

civ ilians . 

Last week. Defense Minister Gojko Susak 
said the regular Croatian Army was ready to 
protect the Croatian enclaves if the Bosnian 
Army appeared on the verge of overrunning 
them. 

“If the interests of the Croatian people in 
Bosnia-Herzegovina are threatened, Croatia 
will become involved directly to protect its 
own interests and tbe interests of the Croats 
in Bosnia-Herzegovina," Mr. Susak said. He 
added that this would happen if “Muslim 
forces should capture their areas, as they are 
attempting right now.” 

“Croatia has helped them, and it will do all 
it can to help them/' the defense minister said 
on state television. “If necessary, Croatia will 
go a step further.*' 

Mr. Susak. a Canadian pizza entrepreneur, 
is considered the leader of the mfliiant “Her- 
zegovina lobby” in tbe government. The 
group is believed to represent the many eth- 
nic Groats with roots in tbe southwestern 
region of Bosnia who have poured in money 


to support both the Zagreb government and 
tbe separatist militia in Bosnia, the Croatian 
Defense Council. 

President Franjo Tudjxnan of Croatia 
struck a bellicose note in a recent television 
interview, warning bluntly: 

“Tbe M uslims must eiLber abandon their 
aggression, or the world will have to under- 
stand the steps we will have to take to defend 
Croats there.” 

The armed forces commander. General 
Janko Bobetko, also warned that “Croatia 
has to set aside substantial means in order to 
assist our kin” in what he pointedly referred 
to as “Herzeg-Bosnia,” the name' the Cro- 
atian Defense Council uses for the ministate 
it is trying to establish. 

“Anyone who would iry to trespass on 
what is ours will be attacked with all weapons 
available,” General Bobetko said. “We shall 
not allow even a small part of our territory’ to 
be taken away.” 

Already, about a third of Croatia proper 
has been occupied by Serbian separatists sup- 
ported by the Serbian government. The Serbs 
took the territory in the war that broke out 
after Croatia seceded from tbe Yugoslav fed- 
eration in 1991. When Bosnia-Herzegovina 
declared independence tbe next year, and was 


the Bosnian forces have advanced along a 
broad central front The Bosnians have cap- 
tured six towns, including some of tfae most 
fertile and populated land that had tradition- 
ally been Croatian, and have mined as many 
as *10,000 Croatian civilians into refugees. 

Bosnian leaders professed to be unim- 
pressed with the threats. 

“The Croatian Army is already interven- 
ing,'' Prime Minister Haris Silajdzic of Bos- 
nia said on Sarajevo television. “They have 
been there for a while.” 

[Mr. Silajdzic said be would bold talks 
Tuesday in Vienna with the Croatian foreign 
minister. Mate Granic, The Associated Press 
reported from Sarajevo. 


attacked by Bosnian Serbs supported by the 
Serbian government and army, Croats fought 
alongside the Bosnian Muslims. 

But late last spring, when peace talks 
seemed to be heading toward a three-way 
partition of Bosnia, Croats began their own 
drive for tenitory. 

The Croatian Defense Council, however, 
has suffered a series of reverses since June as 


■ Shelling Kills 15 in Sarajevo 

Shelling killed 15 people in Sarajevo on 
Monday, including five members of one fam- 
ily and a girl killed as sbe and other children 
left kindergarten. The Associated Press re- 
ported. The killing s came on a fine day that 
lured residents out during the first luD in 
fighting since pre-Christmas peace talks col- 
lapsed. 

Shelling and sniping erupted in early after- 
noon. Fifteen shells hit near UN headquar- 
ters and one shell 500 meters from the presi- 
dency killed five members of one family. 

At least one girl was killed when two shells 
smashed into a crowd of children leaving a 
kindergarten in western Sarajevo. 

The shelling of Sarajevo has increased 
markedly since peace talks stalled in Brussels 
Dec 23. and fighting between government 
and Croatian forces in central Bosnia has 
escalated sharply. 


Contpded bft Our Siaff from Dispatdta 

SAN CRISTOBAL DE LAS 
CASAS, Mexico — Heavy fighting 
raged Monday between the Mexi- 
can military and a group of armed 
peasants who continued their war 
against the government after ukiog 
over six towns on New Yearis Day. 

A pitched battle was taking place 
Monday in the town of Ocosngo, 
35 tnn« (56 kilometers) east of this 
city in the southern state of Chia- 
pas. The military said two soldiers 
and 27 peasants had died in the 
Ocoango fighting. 

Together with the known deaths 
in Sunday's tattles and those that 
occurred during the takeover of the 
cities on New Year’s Day, tbe offi- 
cial death toll in this increasingly 
bloody rebellion stood at 86. 

One state official, however, said 
the death toll among soldiers alone 
could be as high as 150. 

The rebels, bolding three south- 
eastern towns and blocking roads 
leading out of San Cristobal, de- 
mands a “war tax” from motorists 
who ventured out. 

The attacks coincided with the 
opening days of the North Ameri- 
can Free Trade Agreement, be- 
tween Canada, Mexico and the 
United States. One masked rebel 
leader called the agreement “the 
death warrant for indigenous eth- 
nic ground.” 

In this old colonial city, military 
helicopters could be seen firing on 
peasants in the nearby mountains. 
A steady rattle of gunfire came 
from troops fighting on the ground. 

The uprising is the worst since 
the military put down a series of 
leftist guerrilla rebellions in the 


A ‘ isolate Mr. Zterinovdiy.'diiMjed 

rebds did not appear to represent a newspapers,, or treat him like othra 1 jxtoians, Mr, ZbmiOT^Ms 
serious military threat. Their ranks shakeaup many countries by suggestnig t ta Rus sia 
were filled with young Indian men ^ ^ 

and women, moat of them <fc- ^ AlaSTlat week, Balgarn. expelled ton , d rnrng a 
scribal by townspeople as having Germany refused him a visa, eayressai gconiyem ^ ^^he woddnsea press 
more disaptne titan training. conference in Berlin as a stage for wsextrenn»_*rewv 

While some carried assault rifles, But the Bfld newspaper on Monday quoted *bttign MSnara’Xlans 

others were outfitted with pistols, Kmkd assaying Germany might give Mr. at nmflWKy a^ vaatf newmled 
anrimt earbifles and even toy rifles to conduct a “true political discussi o n,, mot <ftssemiaatepropgganfia. . 

What son of political c halleng e Tannii SflidtO PlflU Bill MlIlfeMyfllfS 
they may present to the govern- _ . v . 


neat erf Mr. Salinas is less dear. TOKYO (Renters)-^- — , — Trri _ hf _ zt », 

Without offering any proof, the more tfifca a third starting m. 1996, catting the mnabca-a t^afn^n l 

iiiapas state government linked to 99, a l eading daily newspaper sud Monday. ^ . . 

. • Vmrinn ' Qhrvnhnfi <b»mt the base redactions were m uno-with t 


Chiapas 


er The agency wasafco 

Roman Catholic priests in the area. 180,000 to under 
The group is apparently named for the base and peramnd reductions. Mimstiy affinals could not be 
after FmiKann Zapata, a hero of reached fwiximinent on Monday, a public- holiday., ... — 


after Ennhano Zapata, a hero of reached for ■comment oi 
the 1910 MericanRevolution who tt y i a t. 

defended the right of peasants to Ja} 061(1 ID. 11 
take over land. ' t,,w 

In comments to reporters and 
broadcasts from a captured radio 
station, guerrilla leaders said that 


j army penoaod from 
not specify a time flame : 
ry omdtOs could not be 


26 Held in ItdyToxfcWairtelnquiiy 


that the immediate catalyst was the HiwK aKnWnf nJlMlC 


guerrillas of those years, 


proclaimed Zapatista National 
liberation Army, a band of about 


office, corruption, fraxKLcausmgpStation and thefflegal transpOTtation 
SSmage toric waste. Mr. Tovoan d lSafawen 
c» from the Third World toward haox nine other warrants were saved tm 

“The" free-trade agreement is a Inisi^ executives and.poiitici^ 
death certificate for tbe Indian pep- othcr o**® 036 ®- •*. J ‘ '* - /a./ yj : 

Sbie for theg^er^aitor Fires Rage on Australian East Coast 

linas,” the leader. of the rebds who gyrwjcv rawimti RnA fira k fed bv bhistcrv ■ winds and scaring .■ 

^ ^ eWa ^' ^ ^ 
hl A?£ie red glow descended on Newcastle, a sieel-matoi|^^ erf 
sentence from Carlos Salinas. wjnnoo neoole about 300 kilometers (185 miles) north of Sydney, as 
!n itspoverty and backwardness, ^ sn fires in fluestate of New South Walesimnied 

much of Chiapas state b^ramore ^ ^ Officials said a number of homes in the Newcastle 

ttSiSgiSSS******. ■ 


Liberation Army, a band of about 
600 armed peasants, many of Ma- 
yan descent, coordinated their 
mo v ements precisely 9n| t appeared 
to be highly trained und well- 
armed. (AP, Reuters) 


■ A Shock to Me xi cans 
Tun Golden of The New York 
Times reported firm San Cristobal 
de Las Casas: 

Mexicans were astonished by tiie 


nse up in arms against this death 
sentence from Carlos Salinas." 

In itspoverty and backwardness, 
much of Chiapas state bears more 
resemblance to the highlands of 
neighboring Guatemala than it 
does to the industrial . hubs of 
northern and central Mexico. 

It has long been a hotbed of 
conflicts between relatively 
wealthy farmers and ranchers and 
landless peasants. 

In a communique tbe slate gov- 
ernment also accused Catholic 


TRAVEL UPDATE 


In a communique tbe state gov- Floods Delay FfeDCll HolMflY ReUffH ;- 

erament also accused Catholic . J . - • J s’- 

priests of the “theology of libera- PARIS (AFP) —Heavy ram caused flooding mtfae Fam region and . 
tion" and their, deacons of main- southwestern France,fonang thedosorepf vanous roarb as QtouffliKSor 


uprising, tbe first significant gurr- 
rffla offensive in the country in 


rflla offensive in the country in 
nearly two decades. 

Though they vowed to fight on 
until they readied Mexico City, the 


TrialhSet 
In Beating of 
Luge Racer 


U.S. Weighs Czech Offer as Radio Host 


The Associated Pros 

SUHL, Germany — Two neo- 
Nazi skinheads who allegedly led a 
gang that beat up an American luge 
racer will go on trial here in two 
weeks, court authorities said Mon- 
day. 

Tbe two are accused of leading 
about 10 skinheads who attacked 
Duncan Kennedy on Oct 29 out- 
side a bar in Oberhof, a winter 
sports center in Eastern Germany, 
about 10 kilometers (6 miles) from 
here. 

The suspects, aged 21 and 16 , 
are to go on trial Jan. 17, a district 
court spokesman said. They are 
charged with causing grievous 
bodily harm. 

It was not clear whether Mr. 
Kennedy and other American ath- 
letes would be called to testify at 
the triaL The American luge team is 
scheduled to be in Oberhof Jan. 10- 
16 for World Cup races. 

The two suspects face a maxi- 
mum of five years in prison each if 
convicted. 

The Thueringer AJIgemeine 
newspaper reported last week that 
the trial would start Jan. 10. But the 
court spokesman. Karsten RiLa be- 
lted, said Monday it wodd open 
seven days later. 


By Craig Whitney 

New York Tima Service 
BONN — An offer by the Czech 
Republic to let Radio Free Europe 
ana Radio Liberty move their 
headquarters from Munich to 
Prague, where they could continue 
broadcasting to Eastern Europe 
and the former Soviet Udon, is 


ments in Eastern Europe have been Tbe United States does not want officials. In a surprise move, Sova- 
among the radios' most vociferous to strengthen the band of Vladimir kia ordered a shutdown of trans- 
defenders. Radio Free Europe and V. Zhirinovsky and other militan t miners leased to the radio network 
Radio Liberty now have news bu- nationalists in Russia who wodd under a contract that expires in 
reaus in every East European capi- interpret a NATO embraced East- 1995. A meeting last week in Brati- 


reaus in every East European capi- 


tal and in those of Russia, Ukraine, era Europe as a threat to Moscow. 


1995. A meeting last week in Brati- 
slava failed to resolve tbe issue, and 


Kazakhstan and Belarus, reporting After tbe meeting, Mr. Clinton another meeting is scheduled for 


for domestic audiences that do not leaves for Prague to see Mr. Have! later this month. 


presenting the Clinton admunstra- journalistic institutions. 


yet have equivalent homegrown and Mr. Klaus. 


Gary L. Thatcher, Radio Free 


tion with something of a foreign 
policy quandary on the eve of the 
president's visit to Prague and 
Moscow next week. 

Tbe U.S. government-financed 
radios are facing tremendous fi- 
nancial pressure, from the adminis- 
tration and from members of Con- 
gress, to close their operational 
headquarters in Munich. 

Tbe offer to provide the radios 
with office and studio space in 
Prague was made in October by 
Prime Minister Vadav Klaus and 
President Vadav Havel, a fervent 
supporter of Radio Free Europe's 
surrogate news broadcasting to his 
own and other East European 


journalistic institutions. “Clinton might not be able to Europe's deputy director, said 

Offering to hdp lift the finandal give the Czechs what they want on Monday that Slovak communica- 
burden. the Czechs offered the alliance membership." a U.S. offi- lions officials had complained that 
building that once housed the dal here said, “but if he accepted the government and its regulation 
Czechoslovak federal legislature in the Czech offer to lake Radio Free of tbe Slovak news media was being 
Prague, for what officials of tbe Europe and Radio Liberty, be cast in a negative light. Bui on 

«... ft n nm ..TJ -L* .L._ *L. VT K 


mmmg ties to the guerrillas and motorists headed home from, their Christmas holiday, authorities sod;. 

allowing them use of the radio Monday. ..." . - : "V ■ . . : 1 

communications network of the di- Anthontres said the Marne had nsen bvtipto two centtmeters , 

ocese of San CristobaL upstream and east of Paris cm Sunday evening bnl that the water kvd^s- 

A snolresman for the diocese, stable by mid-morning Monday. He river; howeve^has risen to a point 
G^zTSSd^d tteS weD beyond Ae'akrf level bttweed the eastern taws? aTMeamc and? 
cusatioos asabsuid and said the Lagny had flooded partsof both towns forcing ev acuanoi^ • 
upheaval had deeper roots. In Germany, snow and freezing ram caused lnghway havoc Maidfly. . 

“The real an3ents I can. see '“l™***' ^fk)0^* 

A Furnish tonrist waa kSed fa dte Sahn and sx Whier passengers 
i ^° P ^L . injured when a European tourist convoy traversing the desert between . 

“Obviously the situation is not Q iad Niger hit a land mine , sources dose to the Frond Embassy -- 
what ;t was 30 years ago, ne mm , mainl y Indian party of 10 vehicles and 14 motorcycles was in a 

V™™? 5** d ^!^: bolder area about ISO kHomctors (SO jritefcb&Z£a&j3i~(he In* 

C n^thwest oflbe oxnmtamousTibesti. ^ ’ (AFT) 

Indians were still not penmued to , , . _ . . „ , . ■ .. . 1 

walk on the sidewalks of San Cris- Tbirty-ane peqptewerekffledln Speb m road accntensow the 
tobaL holiday wedeend. Thirty-two people were seriously nqured. Spain s roads . 

r p - i are among the most dangnous in Europe, Dozens are Irifled cadi 

European tourists, people were Abou t 7 nffl an tmmsts are expected in Mdapa ttiis < yM rbecMne ot a 

stimned. toensm promotion, that coukl ymd up to 6 ralnon rmggrt (aZAMhonX 

-n»fe was a big fireworks dis- said Momtoy m Kml. Lmnpnr. j .. ; 

day, and then we were sitting 1^ yean afto the Eoola Gay drooled aaatoaicboirikon lfiroshmi^ 


nation in the rtme-was suck that; 
Indians were still not permitted to 
walk on the sidewalks of San Cris- 
tobaL 

In San Cristobal, a lovely cdo- 


European tourists, people were 
stunned. 

“There was a big fireworks dis- 
play, and then we were sitting 


around drinking mescal in the in Auaist 1945, the B-29 will be put ondupli^m the NationaLAff arid 
enuare and the next thins you Space Museum of the Smithsonian. Institution. Tbe bomber*s restoration. 


radios say would be about 52 m3- would make them very happy.” Saturday, the Slovak News Agency 


lion a year in operating costs. 

“The budding is in move^in con- 
dition." 3 U.S. official said, speak- 
ing on the condition of anonymity’, 
“and it would only cost S10 to 515 
million to move, against annual 
savings of S15 million to S20 mil- 
lion a year. The U.S. Embassy in 
Bonn lias been begging the White 
House to move on it.” 

Officials of the radio say tbe 
Board for International Broadcast- 


Radio Free Europe is also facing 
a Jan. 31 cuioff of its service in 


quoted a cabinet official as saying 
the decision to end transmissions 


Slovakia in a dispute with Slovak had been “precipitate.” 


square, and the next thing you Space Museum erf the Smithsonian Institution. Tbc bomber's restoration, 
know we sec them manuring up the one of tbe most extensive undertaken, is neady cqn?>kte. . . " , (IA7) 
street,” Craig Totaro, 29, a gradu- The cost of driving into central ^rgapore daring business horns went 

ate student at Temple University in up Monday in the latest measure against traffic jams. Private cars now 
Philadelphia, said of the guerrillas, pay 3 Sinfirnwre doDao ^1.88) fra a permit CpvHmg ffie restricted,7J0 
“I thought, what is this? Eagle aJm.- 6:30 PM. period. Mounted detectors are to dectronically deduct 
Scouts?” fees from a stored card in cadi vehicle. - (AP) 


pressing it 


Dixy Lee Ray Dies, Governor and Nuclear Official 


q an enwin: 
spufor-fuir 


countries as long as the free press- in®, the quasi -governmental entity 


there is still in its infancy. 

But tbe offer was not immedia le- 


thal runs both stations, has been 
interested in moving to Prague but 
:lf. The U.S 


The Asiocuued Pros Governor Dan Evans and diamssed his en- 

S LATTE E — Dixv Lee Ray, 79, an out- tire administration she also scorned the out- 
spoken advocate of nuclear power and cry that followed. “No one owns a job,” she 

W Tchrrtrtfrm ctitefc Anil 1 mrtman a/iuornnp CfHfl 


town after the military cotqj in 1980, what he the bench until the film , director Roman 


ly accepted, for a variety of reasons reluctant to commit itself. The U.S. 
including wide resistance from Information Agency, which runs 


staff members, most of them Eas^ the Voice of America, is said to be 
European emigres who have been leaning toward keeping Radio Free 


living in Municb for years. 

The administration mandated a 
cut in the radios' budget from 5210 
million to 575 million by the end of 
the next fiscal year. Sept. 30, 1995, 


Europe under its control in Wash- 
ington and has so far opposed a 
move to Prague, said knowledge- 
able Americans here. 

Tbe board is scheduled to meet 


Kuwaiti Shot in dash 
With Iraqis Off Coast 


and ordered a consolidation of Ra- in Washington on Monday and 
dip Free Europe's foreign-language may arrive at a resolution. But 


broadcasts with those of the Voice there are larger issues involved. Tbe 


The Associated Press 

KUWAIT — Coast guards 
clashed with three Iraqi military 
men who ignored warning shots 
and sailed into Kuwaiti territorial 
waters, the newspaper AI An baa 
reported Monday. One Kuwaiti 
was wounded in Sunday’s naval 
dash, the daily said. 

Since the end of the Gulf War in 
February 1991, Iraqi and Kuwaiti 
soldiers have often clashed. 


of America. The radios have also question is also being considered at 
agreed to reduce the number of the White House at senior levels, an 


Washington state's only woman governor, said, 
died Sunday on Fox Island, near Seattle. She When she sought re-election, she lost the 
suffered a severe bronchial condition for Democratic primary to Jim McDermott, 
several months. 

She was governor from 1977 to 1981. An Eval Mifcson, 82, Suspected 
avid supporter or the nuclear industry. Gov- , . r . 

emor Ray was head of the Atomic Energy Ut INSZl Crimes m Estonia 
Commission from 1973 until 1975. 

She issued her latest no-nonsense com- REYKJAVIK, Iceland (AF) ■ — Eva! V 
memory on nuclear issues Thursday, when ®?» a suspected Nazi ermnnai from Ei 

she dismissed media repeals about past fed- died Dec- 27 in Iceland, where he 1 

era! radiation experiments as alarmist. lived since 1946. 

“Everybody is exposed to radiation," she Mr. Miksoo, whose name in Iceland i 
said. “A little bit more or a little bit less is of Edvald Hmdriksson. died in a suburb 
no consequence." She had no patience for Reykjavik. He was suspected of k i llin g 


was acting president Polanski remmed to the United States for 

Rear Admiral Fritz Hartfingec, 80, who sentencing on a daW-sex charge^died of 
helped supply General MacArmnr in World Thnnday; ; . 

War D, died in Sarasota, Florida, last Toes- iham Gourfkz, ^51, a Cuban-born realist 
day after suffering complications from respi- p ahifw whn nmoht -fpr 
ratray- pohlems. He Mi ndn of sucoesrfnl the Sdwol oT& Arte in New YbArf t 
submarme missions m 1942 that supplied of AIDS Friday in New Yort • 

MacArthur ra Cotregidor and attacked doz- '■ -- rfv- •. . 

ens erf enemy vessels in the Pacific. Mat Usnil, 81, a Kmposer.snd lynQ 


among for J ; 
“•“aflyshwiT, 


the School of ? 


51, a.Cnbanhqm reaHst 
for neariy two Modes at 
1 Arte in New Yoriti died 


ens of enemy vessels in the Pacific. Mack Dario, ol, a compose 

Axel Coni, 60, a filmmaker and broadcast- whiE?£ 

er wbo created works about Nazism and the 




environmentalists sbe conridered too stri- people and involvement in kfllings of ISO 


workers in Europe from 1,530 administration official said. 


to about 700. 

Radio Liberty, which broadcasts 


Eager to become a pari of the 
Western community of nations, tbe 


in Russian and other language* of Czech Republic, Hungary and Po 
the former Soviet Union, would be laud are all pressing to join the 


combined with tbe Voice of Ameri- North Atlantic Treaty alliance as 
ca and Radio Free Europe under a soon as possible —'a wish that 


single federal agency according to 
legislation that the administration 
proposed last year. Congress is to 
debate tbe nutter again this mouth. 

The new democratic govern- 


Presjdeni Bill Clinton and other 
leaders are not planning to fulfill at 
the NATO summit meeting in 
Brussels nexl Monday and Tues- 
day. 


President Richard Nixon appointed Gov- 
ernor Ray, a Democrat, to the atomic panel 
in 1972. When it was phased out, sbe was 
named assistant secretary of state, oversee- 
ing the Bureau of Oceans, International En- 
vironment and Scientific Affairs. 

She returned to W ashing ton stale in 1975, 


REYKJAVIK, Iceland (AF)- Eva! Mik- Apple Blossom White," died Tteday in 

s°o. jg,a yoed Nmcrm ^ fromEtio- EBTOp^Sf^^ Q ilgan m, rffejt .h a rt 

s&«« 27 m,cd “ iwteclK tad 

Reykjavik. He was suspected of kffling 30 pfl1t 

people and involvement in killings erf 150 Tosca Mannor, 92, a pianist and music 

more. He always denied the accusations and teacher who gave singing lessons to many 'Jry- 1 , Mawarom, 

:^id he was the victim of (Viimraunist nrona- French anscis. died Thnrsdav in Paris. Bom 0101 caQCCl w eonesoay m New.JMipCr 


more. He always denied the accusations and 
said he was the victim of Communist propa- 
ganda. Iceland’s prosecution office derided 
in August to further investigate the alleged 
war crimes. But the prosecutor announced 
the inquiry was now bring dropped. 

Ihsan Sabri Caglayangfl, 85. a Turkish pol- 
itician who served as foreign minister for 10 


French angers, died Thursday in Paris. Bom ***** m maccr w eonesoay m 

in Poland, she studied piano in Vienna with ■ LanctBn Cride, 91, a econtumcj^Mer to 

Emil Sauer, a prot^fe of LiszL moved to Preadent FranMri D. Roossvdt^®?ls«er 


Paris in the 1930s and was deported by tike was accused of pacing Tn fnrmBrt nnfenSnvfet 
Nazis in 1944 to Auschwitz. She survived agents, died of heart trouble Dcc. 23 in 


complaining that Secretary of State Hemy years in the 1960s and 1970s, died Thursday 


Kissinger had ignored her. 

Her straightforward political style fre- 
quently upset people. When sbe succeeded 


after lung and heart failure. During his ten- 
ure, Turkey normalized relations with the 
Soviet Union. He was exiled to a western 


and returned to France. Among her students BogotfL • 

: s£SSSS^SSSe « 

and Enzo Sen. der in Ihe television comedy% 

Lmaenee J. Rht e nh gid. 88, a superior roes,” died of a heart attack last 
court judge who once vowed to remam on Los Angries. 


«ts 




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INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY +. 1991 


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POLI TICAL ISOTES 


g gafthCareTopsatntonAganmi 

■^SSBSiSaisas' 

j^rejSS S , ^n ,ed;bedt,w!are ■*<*«* 

J^ wdudhw iiK firsUady, Hilary Rodham 

a piptowaldng session how rimch he 
wasjwnng to poujpjumise with- Congress, M l- 
Cteton saaL- ^VJregoing to seen fleshmg out of 
all the altemativBS" m the coming days/ 8 
^ But besaid dm “bouom fine" r gmVmc “compre. 
nenave benefiis that can newer be >»v»-n away" 

It was Me. .CBhura’s first fuD dayin fiw White 

House aft^ a winta gab-and-gedf getaway. He had 

a senes at meetings planned to plot domestic 
sttaitsy Jo; she new year and preparing for a trio 
abroad to the NATO summit meeting mid a Nfos- 
cow meeting with President BcdsNfVefcsm. : - . 

Speaking to the health care group, Mr ,, Qintan 
saio: “I believe thati 994 wffl gotkjwn in history as 
the year when, after decades and decades of false 
starts and kune -excuses and being overcome by 
spedal interests, the American people fihdly,.fi- 

naUy, lad health security for alL** ■ •■• 


WfiooMn, ?ho is feading and-iBibusier forces in 
the House, jaaoplams that he is monfed by House 
rtdeand barred from even men honing the issue in 



i trip 

r meeting in 

Brussels to a meeting with President Hafez Assad 
of Syria in Geneva, nhere tbey Wffl rfrawtat pros- 
far peace negotjations between Syria and 


In between, Mr. CEnton has stops in the Grech 
Republic; Rcssk and Belarus. - - - (/jjp) 

Cot Hoii— Bustttf FHflhwtonr? 

.WASHINGTON- — House Dcmocrais, fnrioos 
over a stream -of filibusters nv n m t< yj by : 
Rqxiblicans. may try .to rfiaage -an ancient con- 
grtssiottd costwn; the one that says Tboa Shah 
Not Speak D1 of *?Tbe Other Bocity." 

At stake in the short-term is a parbamenlary role 
r written by Thomas Jefferson mat Ins' governed 
debateiu the Hwise for the last Id6 years. 

But changing Mr. Jefferson's “^eak-oo-evir 
rale is just part of a larger fight to pressure the- 
Senate to alter its own rules and make It easier to 
stop the fifibnstezs used by Republicans this year 
to attack kodBritm favored by Mr. Qmtxm. 

It now takes <£0 of the JOO.sauilom to end a 
Senate fiUboster. 

• Rqjresomative David R. Obey, Democrat of 


Mr. Obey attends that the filibuster was once 
used only Jo stow progress on mtjor issoes. but 
now has heconm "‘an outrageous and unaffordable 
rdic of the political stone age.” ! 

"Ixithe Scnaiie the filibuster has been used to 
hold jap ecauamc polity, dte^aMnskm of anem- 
pVoymem benefits; even thhigs as mundane as 
•grazing foes, 1 " Obey said ia an interview. 

■ “I thtnk we have a very pcmicioiis thing 
on," he said. *1 think the results of elections are 

being -subverted by persons, organizations and 

cvep jpoBtical .panns iriio ay to in^ose super 

m^onty ruk in order to try to diange the results of 
an decfioD.” • 

— • . ■••• (APt 

WatfartBarawcfacy BrtBoom 

. WASHINGTON (AP) — The cost Of nmning 
welfare programs is rising more than twice as fas: 
as ibe number of people on the rolls; according to 
federal mvestjgatots who blame an overly complex 
and Moated bureaBaacy. 

- A .dtaft report by the inspector general at the 
Department of Health ami Human Services says 
the federal government spends S6 bObon to 58 

■■. bflfioai a year he^mre states deliver food stamps, 
Medicaid andmonthly cash bendus under tbe Aid 
to Famgres with Dq^ratent Cb3dren program. 

- The investigators said federal adnanstrative 
costs increased by 43pocent between 1987 and 
1991, from ron^Uy S3.4 Mffioo to S4 j 9 biffion, 

wb3e the aimtber of redpieats in the three pro- 

grams increased oh averse by 18 percent, nom 
533 hril&m to 62-5 nrillion. 

“The data do not support tbc contention that 
. rising administrative costs are tbe result of expand- 
ed program respons&ffiries," the investigators say 
‘in their report, obtamed by The Assoriated Phs 
under the Freedom of Information Act 

Tbe report also found that the federal govern- 
ment's share af benefit payments under f amfly aid, 
Medicaid axkl food stamps is growing quickly; 
from 545 b3Gon in. 1987 to $79 biffion in 1991, an 
increase of 74 percent. (AP) 

Qaoli/ll nqu o to 

Mr. Qinton, asked if he supported naming a 

special prosecutor to look into the Whitewater 

affair involving his relation to a faded Arkansas 

savings and loan : “T have nothing to say about 

that. I’ve said well turn the records over. And 
tberes nothing else for me tossy about that “(AP) 



- ijw , ... . 

iZtZW- 







Rrf>cn UirooV \(pkc Fram-Picue 

Coffee in hand, Mr. CEnton alighting frtmt his fimonsme dming the retreat in Sooth Carolina. 


Clinton Revelations 
And the Zipped Lips 

No One’s Telling What Passed 
For 'Public’ Self-Examination 

By Douglas Jehl 

\fn Yij-i r.mc-. Sen >t* 

HILTON HEAD. South Carolina — As an exercise in self -revelation. 
President BUI Clinton's 35 -minute presentation on “What 1 Have 
Learned - was described by some of his fellow Renaissance Weekend 
participants as somewhat less than fully revealing. 

But then, few of the other participants were being revealing either. At a 
gathering of public people that was officially private, even journalists 
among the guest> insisted that tbe details of what the president said to the 
crowd or 1.000 had to remain strictly off the record. 

“I'd rather not characterize it." said Marshall Loeb. the editor of 
Fortune Magazine, when asked what he had learned from Mr. Clinton's 
remarks. 

Joe Klein, the Newsweek columnist, had an excuse. -You'll have to 
forgive me." he said w hen questioning grew specific. “I really have to 
pack up our things and go." 

What presidents tell members of their inner circle has always been 
private. But Mr. Clinton's hush-hush performance in a Hyatt Hotel 
ballroom was an extension of those confidential bonds. 

For a group that encourages personal openness, participants showed 
themselves to be determinedly closed as far as outsiders were concerned. 

Mr. Clinton and his family have been coming to this annual retreat 
amid golf courses. Spanish moss and sea grasses'for a decade, and until 
now there has been no test of its organizers' insistence that ihe proceed- 
ings remain confidential. 

But this year's fresh twist of a sitting president speaking at length to a 
crowd of about 1.000. all of whom were supposed to keep silent about it, 
introduced a strain. On Sunday, about all that a Renaissance Weekend 
spokesman was willing to say was that Mr. Clinton's remarks had been 
“thoughtful, personal, devoid of any bitterness, stimulating and interest- 
ing.” 

A few guests who were willing to describe the thrust of Mr. Clinton's 
presentation said it was somewhat typical of a gathering whose partici- 
pants tend to speak with most passion about matters of public policv. 

Speaking mostly from notes. Mr. Clinton was said to have spoken with 
both warmth and tetchiness, but to have focused more on the political 
than personal lessons he had gleaned since taking office. 

Mr. Clinton expressed regret, a participant said, for waiting until so 
late in tbe year to speak out on moral issues such as crime and violence. 
But it was not until he came to his plans for overhauling the health 
system, one sympathetic guest said, that he spoke with true “missionary 
zeal.” 

Mr. Loeb of Fortune said he had no misgivings about taking part in the 
off-the-record session. Bui at least one other among the dozen or so 
journalists who were invited insisted that be bad not known secrecy was 
part of the deal. 

“Isn't this all going to put on the record?” the journalist asked some of 
his colleagues. “I thought everything a president says in a big group is 
supposed to be public.” 

when he was not at the conference. Mr. Clinton spent much of his five- 
day weekend on the golf course. 


*.w ; 




. Jennifer. Senior / ' V- ; ." ; 

Jtew Ydrk-ttnei Service-. ' •- 

: WASffiNGTQNr-1 
, adeay>erecaiwcai|d 
Ettle'jnDger iKXt to 
Brit tod*; maty of thcmbrefiian aXy)0Q paoplewbo use, the 
American Sign l^ rg nag c avoid axing tins sign because it makes a 
leferehce to it stereotypical physical feature, darned eyes. 
d,mariy deaf people are mating the sign for “Japanese'* by 
tbe thntnb and mdex fingers of bodt hands together and 
dig) puffing themaparycarying the riPtnoette of Japan' into the air. 

' The si gn* that .are^changing, like the' spoken -words that are 
trappin g rmi nf poHte usage: are often terms for various ethnic 
eroupsT^American^ ^StgnUtrigdajfi which sometimes brarits roots 
in easily Tgwte n^We gtftmes, sagns are often deaqed offensive 
because toey are yisnbBy provoaaive. '.V - i - 

The si gns 1°* and “Storean," which are made by 

fonnmg the tettets“C” and u K r artumd the eye. are changing. There 
is an -tso/erffD^. term for “African- Amcricait” Chib of the current 


the signs fdr ^amgy, T ’ which fe daned firan-the sign for ” Jewish” 
on'an imag inary heard), las recently srimnlated dma?nops 
deaf Jews arobnd the country, though no new sign has 
* '• • * *- — 3 nrL ---— 1: — : — * — — ■” adds 


scnsmvuy IQ louse hwjucsus U in» iHBM 

their own dcare for iecogrutian as a dutihat group that 4e»±ves the 
same sort of deference bang extended to eOmhv rdigious and racial 
ndnoritks. I . .i , -.j.;:- . ; t WT 

TSwriy yearn ago; a garisfa of the wrist was one of the legitimate 
signs for homosexual It was dropped, howwsr, became of its 
suggestion that homosexuals were effeminate. Until recently, some 
deaf people also ran- their middle finger through their hair to step 
“homosexual,” though most others regarded that sign as an epithet 
because of its oyoily f egdnine Aara^ 1 ^ j ^ ^ gj^er 

thes^ntoc fheJetter ^q” on the^i. ;A decade 
; ago tb»sdgh^ .wasunacn^^ preant the equrvaUartof 

' “queer. ” Now it is in vogiie. 


U.S. Starts to Lay Bare Radiation Tests 


By PauIF.Horvitz 

International Herald Tribune 
WASHINGTON — A painful 
and introspective look by the-Uii. 


i stitjectsm OM War atom- 
ic; radiation experiments.began in. 
■ earnest on Monday. 

Top staff members from several 

how to un- 
cover the answers to troubling 
questions that have been. raised in 
reoent weeks. 

- Among their miriat decisions 
was to pursue some form of com- 
pensation for victims, according to 
Representative Edward J. Markey. 

' a Massachusetts Democrat who 
spearheaded congressional efforts 
to bring the experiments to light. 

“I laow that the federal govern- 
ment cannot afford not to compen- 
sate people,” he said. “These peo- 
ple, were made human guinea pigs 
'Far' the benefit of the national seen- 


sponsored studies, without proper 
informed consent. 

The reports said the women were 
given radioactive iron and rite chil- 
dren radioactive foods. But offi- 
cials were also quoted as saying 
that the levels were extremely low 
releases of radiation arid the'iiiges-. altd, in many cases, would have 


place in the 1940s, '50s and ’60s 
and were Intended to learn about 
the effects of radiation ou human 
health. 

Much is known about the experi- 
ments, which reportedly involved 
_i • injections, atmospheric 


REGRETS: 

■ CoB&aied fromPagei : " 
* scientists use far regret- Bat Ik. 
/GriovichaiidDr. Landman befieve 
'it is not just ftifile sadness. r 

' her hoc3C 4 B««« r - , %^ 

. tax* of toe PoKablc, w E>r. Ua& 
'man dies a study ihat^gestofei 
the experwnce cf rtgrettefi.s«nfl- 
^ thing actoaHy raises iheleyd of 
"jtfrwnaKne mtbe body.- : 

, ; ; Thtts. r^xet can be .seen m a 
: form of aeative thou^it. In labora- 
■ toy tests, people haii»om« 
shewed greater accrawy m jn?«- 
meal ar«i nrocessed mfotmatra) 
/lHwe^ ■anahfi^ 
iects, J>. Landman said, 

J Dr.Gitovich and Dr. landman 

v.vfew regret .the w«y JmM; 

chedogists see dreams: as 
' messages - to what you . are ffom 
. what vest were meant to be- . 
:*The;rnysiay m te ^ 

V research 

; better map a tS, to 

ahem ^ I***®' 

. mentaL: These : are Bundrods_cf 

- ™ . a! n«mipr nffiL 


of the 


Manyhqs or 
wrong ■’ 'person was 
cited by about 30 .percent 


ins ^undoing! facts,”. Dr. 
'explained. ‘Tt’acasy toiiaagbe un- 
doing just two rit- three thri^s. Bui 
- if itfes to imagine 20 things differ- 
: ently. ihe mmd files it as a Waller 
ifittyfantasy. So a possible dream 

1 - ----- 11 — -- mam m Hnau i Uu rtmn 


ri^ of our country.” 

Already, offidtus at the depart- 
ments of Energy, Defease and Vet- 
erans Affairs have ordered file 
searches to determine how far the 
experiments went, why some sub- 
jects were riot property informed 
about the nature of the studies and 
how the government should re- 
spond. . .. 

Some subjects were reportedly 
among the indue vulnerable Ameri- 
cans — prison inmates and the 
mentally retarded. 

Behind the recent release of in- 
. formation is an -attempt by U-S. 
officials to. as one girt it, “expose 
the impact of tbe Gold War on 
Inman health, the tmvironrDeot 
and the national psyche. Soane ana- 
lysts also believe that the public 
airing of U.S. nuclear secrets is a 
precursor to calls for other nuclear 
powers to divulge the extent of 
thtar atonric programs. 

. White House officials and Ener- 
gy Secretary. Hazel R. 
agree that the government 
compensate .people who were in- 
volved m. secret experiments with- 
oul their kpowledgE, or their sum- 
vtas. Most of the experiments tot* 


Don of radioactive foods. 

In a news conference last month. 
Mrs. O’Leary confirmed that since 
the end of World War If, the gov- 
ernment had conducted experi- 
ments at laboratories, universities 
and hospitals around the country 
on about 600 individuals. 

She said (hat, so far, the Energy 
Department believed that as many 
as 18 people were not properly in- 
formed before Taking pan in the 
experiments. But her announce- 
ment has been followed by reports 
questioning whether proper in- 
formed consent was given by doz- 
ens and possibly scores of others 
human subjects.' 

Although much of what Mis. 
O'Leary said was revealed seven 
years ago by a Massachusetts con- 
gressman, her blunt public state- 
ments led to widespread publicity 
about the experiments. A free gov- 
ernment phone line was set up to 
take calls from those who believed 
were improperly exposed to 


fallen within current federal safety 
guidelines. 

Other reports have said subjects 
in hospitals were given injections of 
plutonium. 

In a 1986 report, Mr. Markey 
contended that U.S. government 
officials had conducted “repug- 
nant" experiments on terminally Ul 
patients, prison inmates and others 
who “might not have retained their 
full faculties for informed con- 
sent." His report also said the test- 
ing continued into the 1970s. 

But the report drew scam notice, 
in part, Mr. Markey believes, be- 


cause the Cold War was still being 
fought and President Ronald Rea- 
gan did not wish to probe govern- 
ment files for the details. 

Mr. Markey said Monday that 
officials had agreed to include the 
Central Intelligence Agency in fu- 
ture meetings on the topic. The 
White House session Monday in- 
volved officials from the depart- 
ments of Defense, Energy, Health 
and Human Services and Veterans 
Affairs, plus the National Aero- 
nautics and Space Administration. 

In 1986. Mr. Markey ’s congres- 
sional subcommittee listed 3 1 sepa- 
rate experiments involving nearly 
700 people in hospitals, prisons and 
military installations. 

Mrs.' O’Leary has asked a panel 
of outside experts on medical ethics 
to review government records, and 
she has promised a more detailed 
report on their findings in June. 


Away From Politics 


• A rescue slop puQed alongside a fife rafl but found do survivals from 
a freighter that sank the day before in rough seas in the mid-North 
Atlantic. The Liberian-registered Marika 7 bulk carrier, with 36 
Greek and Filipino crew members, vanished from radar screens 
Saturday in a storm 950 miles 11,500 kilomeiers) east of Newfound- 
land, Search ships recovered three empty life rings, and planes 
spotted two life rafts. They also saw two flares fired. 

• More than 100 water mains raptured in the Washington area, most 
due to rapidly failing and rising temperatures, utility officials said. 
Prince George’s and Montgomery counties in Maryland counted 62 
breaks in older cast-iron pipes over the weekend, while about 40 were 
reported in Falls Church and Fairfax County, Virginia, and 13 in the 
District of Columbia. 

• A motorist impatient to pass fired into a another car as he overtook 
it on the right on a California freeway, killing a teenager, the Riverside 
County Sheriffs Department said. The 19-year-old victim was a 
passenger in a car in the left lane on Interstate 15 when the gunman 
pointed a handgun and fired one shot. Tbe assailant continued on at 
more than 90 miles per hour, and no arrests were made. 

• The kitting of Alaskan wolves in neck snares has animal protection- 
ists up in arms. So far. 65 wolves, mainly young, have been slain by 
trappere of the state Department of Fish and Game. Those that are not 
choked to deaih are shot on the spot The goal is to eliminate 100 to 
150 wolves, or 75 to 80 percent of those in a 4,030-square- mile area 
between Fairbanks and Denali National Park. Renter*, at. la t 


Mrs. O’Leary said last month 
that what she had learned about the 
human experimentation bad left 
her “appalled, shocked and deeply 
saddened." Over the weekend. 
President Bill Clinton praised Mrs. 
OTxary for her candor and prom- 
ised a high-level review on how lo 
proceed. 

On Sunday, a senior White 
House official said compensation 
was appropriate for people who 
were not given a full description of 
tbe experiments, io which they were 
subjected. 

Newspapers in Boston reported 
in recem days that records at the 
Massachusetts Institute of Tech- 
nology showed that 125 mentally 
retarded children at a state school 
and 23 pregnant women ingested 
radioactive material in federally 


■ V 


niT 1 !— ; — — — - . 

X>r Landman cited information 
*aTNcL 

. the wrong occupati^ cct^oy- 
txT offend nwgbty 50 P? rent 


iess rate. . 

^^jet taps into a primordial 
Tear: the dread of bang a loser "he 
continued. “Pdtiticians and execu- 
ijvts are always advised to' admit 
mistakes, never regrets.' Mistake 
impli es a neutral tactical error, but 
no powerful; .'pasem' wants bol- 
I*3gn«i to know that, even for a 
axubent apUwofhtsfifcwdar- 
ataer ever feh hopelessly second- 
rate.” ' ■" •• 

Dr. Cnlowch has begimaadying 

■ tbe re&timzship of regret to sex. In 
iris initial sumgs, be found -ihaL 

■ both men and women djed reacts 
bjvobnng cu!iwf,Tanri^ arid five, 
hffiddtoaged.meu .were more SWy 
to regret -not .. spending time ■'with 

■ their families; while middle-aged 
. women- were more Jflfcdy tq regret 
apt having bad bettercareers; . '• 

Hc fWtod ooly non. sharp sex-. 
based contrast “Men vrere faf - 
more IMy - to say, T regret' riot 
deeping withjhat woman,’ ” Dr. 
,'Gflovwa «dd, “t^'ritomcD.said,- 
*1 regret degrag.'seih that man.’ ” 



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The Economics of Middle East Peace 

A full -dav business conference about ihe economic and 
business implications of the Arab-Israel peace process 
organised by Middle East Economic Digest. 


Keynote speaker: 

HRU Crown Prince Hassun of the Hashemite Kingdom of Jordan 

* 

The Rl Hon Douglas Hogg (1C MP. Minister of State. 

Foreign Commonwealth Office 

Date: 10 January 1994 

Venue: Queen Elizabeth U Centre, Westminster. London 

Other speakers will include: 

❖ Dr John Page, chief economist. Middle East and North Africa Region of 
the World Rank 

❖ Mr Jazcui Ghossein. chairman of the Palestine National Fund and member 
of the executive committee of the Palestine Liberation Organisation iPLO) 

❖ Professor Yustf . 4 Sayigjh of the department of economic affairs and planning, 
the Palestine Lilie ration Organisation (PLO), Tunis 

❖ Mr Samir Huleileh. general director of the Economic Development Group, 
Jerusalem 

❖ Mr AfifSafiefi. head of the PLO delegation to the UK 

❖ Mr Geoffrey Haley , economic advisor, Mediterranean and Middle East division, 
the European Commission and EC co-ordinator for the peace process 

<2» Mr Hikmat ISiashashibL senior advisor, Arab Banking Corporation RSC, 
Bahrain 

❖ Mr Andrew Soper . head of Arab-Israei section in the Near East and North 
Africa department of the Foreign & Commonwealth Office (FCQ), London and 
UK representative on the refugees and environment multilateral working groups 
Mr Greg 5Aopfancf, research and analysis department of the Foreign & 
Commonwealth Office (FCO) and UK representative on the multilateral water 
working group 

<• Mr John Milne^ advisor. Middle East and Asia, the Bank of England 

❖ Mr Edmund O'SuSliran. Editor-in-Chief, MEED 

For reservations for this major event contact: 

Hugh Comerford, Marketing Director, MEED, 21 John Street, London, WC1N 2RP 
Tel: (0)71 *KK 5513 exc8245 Fax: (0)71 242 1450 












Page 4 


TUESDAY, JANUARY 4, 1994 








OPINION 



Hcralb 


INTERNATIONAL 

-s 



tribune 


PUM isheo W|T|| THE NEW YORK TIMES AND THE WASHINGTON POST 


Africa Is Being Left Out 


In a bum of compassion and amid loud 
applause, the United States a year ago rushed 
to the rescue of the sick and starving in 
Somalia, But for Africans, this holiday season 
is even bleaker, and not just Tor Somalis. 
When the humanitarian mission in Somalia 
went sour, most of Africa below the Sahara 
also seemed lo drop from sight- Every bit of 
bad news — civil wars, military coups, drought 
and disease — has sadly reinforced a mood of 
fatalism or still worse, callous unconcern. 

Yet it is one thing to recognize Africa's 
economic and political ills, and quite another 
to let them become the pretext for doing little 
or nothing. Much that has gone wrong in 
Africa springs from causes beyond African 
control; that. too. needs to be recognized. 
First and most grievous is the steady drop 
over a decade in the world prices for African 
exports, which in turn has shrunk the private 
investment flow to sub-Saharan states from 
510 billion in 1982 lo S4.7 billion in 1990. 

The dismaying results are underscored by 
Butros Butros Ghall the first United Nations 
secretary-general from Africa. For countries 
below the Sahara, foreign debts, described by 
Mr. Butros Ghali as a “millstone around the 
neck," have risen to the equivalent of 106 
percent of gross domestic product, compared 
with 37 percent for another debtor region, 
Latin America. This has cruelly coincided 
with a decline in development loans from 
multilateral banks. New lending commit- 
ments to sub-Saharan Africa by the World 
Bank in its last financial year fell by 512 
billion, or 30 percent. That in part reflects 
sharper competition for all foreign aid. The 
World Bank's commitments to Eastern Eu- 
rope, Tor example, rose in the same year to 
53.8 billion from SI.7 billion. 


Doubtless, as the World Bank says, Africa's 
political volatility helps explain this contrast 
But it is also true that sub-Saharan Africa has 
been the biggest loser as the Cold War has 
ended. A decade ago. the Reagan administra- 
tion expatiated on Africa's vital maritime 
"choke punts.” its wealth of natural resources 
and the presence of 37,000 Communist eco- 
nomic technicians below the Sahara. Now the 
technicians have disappeared, along with So- 
viet-bloc aid. and so has Africa’s Cold War 
leverage. What this also implies was spelled 
out at a conference in Namibia by a British 
parliamentarian, David Steel; "We in the 
West cheerfully supported appalling dictator- 
ships because they were on the 'right’ side in 
the Cold War. Now that this shadow is lifted, 
we demand instant standards of good gover- 
nance. This is not good enough." 

So what is good enough? A little more aid 
and debt forgiveness in extreme cases would 
make a difference. So would incentives for 
political and market reforms. But what might 
achieve more, at negligible cost, would be a 
concerted diplomatic initiative to bring an 
end to wars that beggar and uproot so many 
peoples in Angola and Mozambique, in Libe- 
ria and Sudan, in Somalia and Rwanda. 

Remarkably, Africa witnessed real g?»ns in 
1993. South Africa has repudiated apartheid. 
Peace, however tenuous, prevails in Ethiopia; 
Eritrea has won its right to independence. 
Armies have demobilized in Uganda, and its 
economy is percolating. In a broad swath of 
countries from Kenya to Zambia, from Mala- 
wi to Gabon, ordinary people are clamoring 
for human and political rights, fl ams like 
these merit a more generous — and attentive 
— response from richer nations. 

— THE NEW YORK TIMES. 


Central Banks: Independent, Accountable, linked 

» • - - “■» 1 mm,. It 


'Better’ Babies in China 


R OME— Central banks now find them- 
selves unusually strong and influential I 
refrain from saying popular, a word that is 
not easily associated with institutions which 
often have to say “no.” It is not hard to 
understand why Guido Carli. the former head 
of the Bank of Italy, chose to hang behind his 
desk a very large painting Of Saint Sebastian 
impaled with all those arrows. 

If not popularity, that it is a sense of need 
and respect that in recent years has led some- 
thing like a dozen important countries to 
rewrite their national laws and even their 
constitutions to provide a high degree of insti- 
tutional autonomy for their central banks. 

Many other central banks, in fact if not in 
law, nave gained tire dearly dominant voice in 
monetary policy, and often a large influence 
in general economic policy. 

This idea has reached its apex in the new 
central banking system of the European Com- 
munity as envisioned in the Maastricht treaty. 
All of this change has. as perhaps never be- 
fore, given rise to discussion about the proper 
role of central banks, their relationship not 
only to their governments but to each other, 
and the adequacy of their instruments. 

Much as 1 and others may welcome greater 
autonomy for central bank decision-making, 
we have to recognize that an independent 
central bank is not an end in itself. It certainly 
cannot substitute for trust in elected officials 
and effective government Moreover, the very 
idea of emphasizing greater independence in 
an increasingly interdependent financial 
world strikes a dissonant note. Behind the 
slogan of central bank independence, we need 
a clearer understanding of its real significance 
in today’s world, and of its limitations as well 
Control over the creation of money and 
credit and the supervision and oversight of 
financial institutions — the kind of thing 
central banks do — is recognized as a public 
function. There are those in my country and 
elsewhere who argue that a central bank not 
directly controlled by elected officials is "un- 
democratic.” But study that criticism is in- 


By Paul A. Volcker 


consistent with the essential genius of that 
greatest of all political inventions of Western 
rivflizalion, the constitutional democracy. 

An informed citizenry can and docs assign 
cotain of its sovereign powers to a duly consti- 
tuted authority — ana that delegation of au- 
thority can be withdrawn. In other words, the 
exercise of important governmental powers 
depends ul timatel y on the broad support of the 
body politic, and a formally independent ceo- 


Jn a turbulent world? the 
independent central bank 
symbolises the importance 
that a society attaches to 
financial stability'. 


iral bank's authority will be tempered by what 
informed opinion accepts as reasonable in the 
light of agreed public purposes. 

Forceful and determined central bankers 
can and should be persuasive participants in 
the public discussion. If effective, they will 
eslarge (heir authority. Indeed, 1 fed certain 
that even the Bundesbank, the European ex- 
emplar of statutory central bank indepen- 
dence, has maintained its autonomy by virtue 
of its strong base of public support. 

In tire international sphoe, the question of 
appropriate coordination among economic 
policies arises inescapably in the area of ex- 
change rates, a matter for decision that few 
governments will yield entirely to their cen- 
tral banks. No one from my ride of the 
Atlantic need dwell on these points in the 
light of recent European experience, one re- 
sult of which has been to set back the process 


with respect to a single currency, the idea that 
each central bank can be free to set andimple- 
menl monetary policies without regard to the 
programs and policies of the rest rf its govern- 
ment and its counterparts abroad is not of this 
world. Whai the European experience also 
illustrates is that the independence of central 
banks offers no escape from the consequences 
of mismanaganent of fiscal or other policies. 

Those pouits are relevant for otter coun- 
tries, inrimfing bw own. Economically large - 
nations, relatively less exposed to foreign trade 
than ibe ctosdy knit economies of Western 
Europe, may be less concerned about wfaat the 
pursuit of an independent monetary policy 
does to their exchange rates. But even large 
economic units — the United States, the Euro- 
pean Community. Japan — are subject to 
economic disturbance when exchange rates 
swing too widely. Look at the strong dollar in 
the early 1980s, and more recently the yen. 

I do not raise these familiar points to sug- 
gest that there are ample, politically accept- 
able and economically efficient formulas for 
reconciling internal and external stability. 
They do not exist, any more than they do in 
internal economic policies. What 
I do suggest is that the threat of substantial, 
exchange marker rfivuthiiniw will recede to 
the extent that prospects for price stability in 
our individual countries can be credibly rein- 
famed. thereby reducing speculative and eco- 
nomic pressures on exchange rales. 

There are those who look upon monetary' 
oolicy as a kind of abstract process; cond u cted 
a land of special priesthood imbued with 


as we know it 
vc the central response 


about monetary 

SSiSsr-S 


Si«S3 ST* <=«*** «■*“- 

of monetarypolicy unpaired. 

What is not so dear is the extent to winch 
the international system las been exposed to . . 
new risks of breakdown. The cqmbumtion of 


•renter market volatility, jncriasingly com-. 

• • -• - - - t - financial insn- * 


plex mterrelatioflsfnps among , finanaa iron- 
unions, and the herd mentality of Jmanoal 
operators at a time of pressure and imcertam- 

tv can be a potent mixture. 

Central banks have a deep and continuing 
interest in these matters and bring to the 
an experience, an expertise an£ap 
objectivity about the financial mdusuy that is 
of unique value. How ironic it is that now 
some would weaken the capacity o f cen tra 
banks to deal with the presang concerns and 
to «faap« the direction: of change; That scops - 
to me the practical import of recent legislative 
proposals in the United States.. 

- in a turbulent world, the independent car 
pal bank symboBzes the importance that a 
society to financial stability. Indepen- 

dence" prorides an environment in wbieb pro- 
faaiooaHaa , continuity and integrity czJnbe 
nourished. A strong central bant has Saved 
Italy wdl and I look forward tofurttersOcass,. 
in its efforts to restore stability oat 
Italy 


of achieving a angle currency. 

Whatever course Europe derides to follow 


but somewhat removed from contact with the 
real world of banks and markets. In that view, 
the central bank might be distracted, from its 
mam job by direct participation in barikum 
regulation and supervision, and, if involved, 
should consider it a secondary affair. 

But central banks tike my own and the 
Bank of Italy come from a different tradition. 
ThQr were founded much more out of con- 
cern about banking stability than out of ideas 



cess in those efforts, i _ , 

for an Italian bicentennial cdebrahcuLn hun- 
dred years from now. Ibeidentity.of the Bank 
of Italy will have been incorporated mtothe 
largo* European whole. • - • 


77it? writer is a former chairman of th£ U.$. 
This: 


Federal Reserve. This comment was 
the International Herald Tribune from an 
dress for the centenary of the Batik of Italy. 


However China’s new policy’ on “better" 
babies is received at home, abroad it is bound 
to increase the burden that political and cul- 
tural differences place on the connection be- 
tween China and the West 
Announced first as a draft law entitled “On 
Eugenics and Health Protection.'' it drew 
heavy foreign criticism and was quickly re- 
named the "Draft Natal and Health Care 
Law." The content, however, seems un- 
changed. The taw would arm the Chinese 
government with new authority to advocate 
abortion and sterilization to prevent births of 
children with disabilities. 

Some qualified observers of Chinese ways 
are not at all shocked by this proposed law “to 
avoid new births of inferior quality and height- 
en the standards of the whole population." It is 
not just the heavy cost of special care, in a poor 
and overpopulated country, for an estimated 
400,000 children born each year with congeni- 
ta) diseases. With the government's existing 
one-child-per-family birth policy, a premium is 
put on the health of that single child 
In the West, nonetheless, the Chinese pro- 
posal unavoidably suggests a totalitarian “eu- 
genics" approach. China is, after all a country 
where the state already mobilizes its outsized 


power to influence family riTg. Complaints of 
forced abortions are chronic. 

American parents often undergo genetic 
testing to detect potential birth defects, but in 
the United States the testing is a matter of 
personal choice, and so is any subsequent deci- 
sion taken on the basis of the testing. 

The draft law being considered in Beijing 
formally stipulates that termination of preg- 
nancy must be with the agreement of the wom- 
an or her guardian. But tow much weight will 
actually be given to the woman's wflj in the 
delicate transaction that proceeds under "the 
principle of combining government guidance 
with individual choice"? 

In short, what the Chinese propose to do 
may or may not be consistent with Chinese 
norms, but it seems appallingly distant from 
Western norms. The policy take to the state a 
notable measure of arbitrary and abusable au- 
thority and tramples mi the biological and 
moral autonomy that defines individual digni- 
ty. For the Chinese authorities to put such a 
policy into law is to sharpen the sense of 
difference that already suffuses American-Chi- 
nese relations. It is a terrible thing in its own 
right, and it is a mistake. 

— THE WASHINGTON POST. 


As Asia Urbanizes, Pollution Problems Grow Ever More Urgent 


B ANGKOK — Rapid urbaniza- 
tion is transforming Asia. 
Eighty-seven Asian cities have more 
than a million inhabitants. By 2005, 
more than half the population of East 
Aria will live in dues. In South Aria, 
the urban population trill overtake 
the rural population by 2025. 

Rapid economic growth and indus- 
trialization have caused unacceptably 
high Levels of pollution. However, 
that growth combined with a high 
rate of domestic savings in many East 
Asian countries provides public and 
private capital to invest in the tech- 
nologies needed lo dean up the envi- 
ronment. And since pdluuon is con- 
centrated in urban areas, it can be 
tackled more cost-effectively. 

The economic, health and other 
costs of environmental degradation 
are already high. The cost of air and 
water pollution in Jakarta probably 
exceeds $1 billion a year, while in 
Bangkok it is more than S2 bOHou. 
Costs in Asia's other large cities are 
comparable They are rising as safety 


By Carter Brandon and Ramesh Ramankutty 


thresholds for a large number of pol- 
lutants and poisons are exceeded in 
increasingly large geographic areas. 

These costs would be 10 to 40 per- 
cent higher if wasted vehicle fuel and 
productive time lost in Aria's notori- 
ous traffic jams were induded. 

Water pollution in Asian dries is 
largely caused by domestic sewage but 
is compounded by industrial wastes. 
Con Lamination of available water is a 
major health threat. Comprehensive 
water resource management will be 
one of the most difficult issues in Asia 
in coming years. Such an approach 
must encompass all demands — ■ in- 
dustrial and agricultural as well as 
urban — on water resources. 

The health and welfare impacts of 
urban water pollution have to be 
tackled on two fronts; provirion of 
safe water supply and reduction of 
effluents. Although the public sector 
is expected to continue to play an 
apply, tre 


meoL and disposal it is important to 
encourage private sector and commu- 
nity participation. To provide the 


accessary incentives for the private 
tariffs ma* 


important role in water supply, treat- 


sector. water and sewage tariffs may 
have to be raised. Such moves are 
already starting in Asia. 

Urban airpouution in a number of 
Asian dries is at critical levels. Ac- 
cording to studies by the World 
HealLh Organization. 12 of the 15 
cities with the highest levels of parti- 
cles in the atmosphere, and six of the 
dries with the highest levels of sulfur 
dioxide, are in Aria. 

Of the seven dries in the world 
with the worn air pollution, five are 
in Asia — Beijing, Calcutta, Jakarta, 
New Delhi and Shenyang. Levels of 
partides in ibe atmosphere, the air 
pollution that has the most serious 
impact on public health, are rising in 
almost all Asian dries. 

Urban transport is the main cause 
of air pollution in roost tropical and 


subtropical Asian dries. The number 
of vehicles on the roads. in many 
Asian dries is doubling every seven 
years. A large proportion have high- 
pollution two-stroke and diesel en- 
gines. Moreover, fads in Asia are 
among the dirtiest in the world. Lev- 
els of sulfur in diesel fuel and lead in 
gasoline are especially high. . 

Investment in unleaded fuels, taxes 
on leaded fuels and tightened stan- 
dards for vehicles are among the most 
important and cost-effective short- 
term changes needed to reduce emis- 
sions from urban transport. Low-cost 
responses to congestion include traffic 
management, bus and demand 
iwinapmpnt such as parking fees, 
staggered office hours and carpcxrimg. 

However, without alternatives to 
private vehicles, higher taxes and 
traffic management will simply make 
transit more costly bat not much less 
congested. In East Asia, capital-in- 
tensive investments Th public- trans- 
port are becoming increaangly viable 
as incomes rise and traffic jams grow. 


Congratulations Are Due Aspin Pentagon Has a Record to Be Proud Of 


aie common treat- 


Recently in London a woman gave birth to 
twins. Why did this seemingly unremarkable 
event merit headlines? Simple. She is 59. 

T rue, her children came into this world by a 
somewhat circuitous route. Eggs donated by a 
younger woman were fertilized by the older 
woman’s 45-year-old husband and implanted 
in her at a Rome fertility clinic. But in-vitro 
fertilization and donor eggs are, if not yet 
commonplace, not unusual in the wonderful 
new world of obstetrics. Once again, then, 
why the headlines? Simple. She is 59. 

Fifty-nine is. of course, a rare age to em- 
bark on motherhood. But it is not a rare age to 
embark on fatherhood. Fatherhood at 50-plus 
does not occasion much fuss unless the new 
dad is. say. 60-plus and famous besides. Then 
the headlines read “What a Guy!" But this 
woman in England — you would think she 
had done something terrible. 

“Women do not have the right to have a 
child." Virginia Bouomley. Britain's minister 
of health, snapped. “The child has a right to 3 
suitable tome.” What makes her believe that 


the twins will not have a suitable home? 
Youth is no guarantee of parenting skills; all 
too often the contrary is the case. And bow 
would the minister define the homes in which 
parentless children are raised by grandmoth- 
ers? Are they, ipso facto, unsuitable? 

There is a strong case that Britain's Nation- 
al Health Service should not have to pay for 
in-vitro procedures in older women; such pro- 
cedures. expensive and chancy at best are 
even more so when the patient is post-meno- 
pausal. This new mother of twins, however, 
paid for her treatment herself. 

Even so, finding a physician was difficult. 
She went to Rome because she was rebuffed 
by doctors in London who said she was too 
old for the emotional stress. 

Motherhood is difficult at any age. and it is 
hard to imagine many women wanting to 
undertake it at 59. But if they do. and if they 
can, then why not say to them what is said to 
59-vear-old fathers? “Congratulations, good 
luck — and good baby-sitters." 

— THE NEW YORK T/MES. 


W 


ASHINGTON — In less than a 
year as secretary of defense. 


By Richard Perle 


Les Aspin has accomplished far more 
than tie 


Other Comment 


More Hypocrisy on Bosnia? 


Throughout the Balkan conflict, the fate of 
Bosnia has hung on the survival spirit of Saraje- 
vo. .As long as it stood against the tightening 
strangulation of its Serbian besiegers, it re- 
mained symbolic of Bosnian nationhood. How- 
ever. Bosnia is unlikely to be able to fake its 
existence through the coming year. 

The elaborate buck-passing between the 
United Stales and Europe over leadership in 
crisis containment in South -Central Europe 
finally ended with [Europe in charge], for the 
first lime since World War II. The European 
rnrnrminity'n creative narrowing of the limits 
of involvonem. which aimed from the outset at 
plausible deniabihty — the ability to deny that 
die Western allies simply sat back and did 


nothing — has very likely exacerbated the 
conflict The Western alliance kept itself busy- 
doing nexi to nothing A NATO blueprint to 
roll back the Serbian advance into Bosnia 
failed to obtain the US complement of half of 
the required 50.000 troops. A similarly detailed 
plan for air strikes remains in reserve. 

Unhappily for Bosnia, the anxiety of the 
West has focused on the Likelihood of a “domi- 
no effect" dragging Greece. Bulgaria. Albania 
and possibly Turkey into a Balkan conflagra- 
tion. Human rights" principles have been side- 
stepped for the goal of war prevention. Bosnia's 
fail could spark the linderbox of the Balkans, 
and provide the most belligerent uliranational- 
ists with the biggest proof yet of Western 
malleability on the subject of human rights. 

— New Straits Times t Kuala Lumpur). 


president who appointed 
him is likely lo understand. Working 
in extremely difficult circumstances 
—often made worse by the president 
himself and his closest advisers — 
the former chairman of the House 
Armed Services Committee compiled 
a record of which he can be proud. 

He began the daunting process of 
reshaping America's military forces 
for the post-Cold War world. And he 
dealt successfully, and courageously, 
with a triad of social problems — 
gays in the military, women in com- 
bat and the Tailhook scandal — that 
demanded wise policy judgments and 
great political skill. 

Bill Clinton's choice as secretary of 
defense was greeted warmly at the 
time by people who understood that 
the transition from the Cold War 
posed imm ense intellectual as well as 
institutional and political problems. 
What kind of miliiarv. to support 
what kind of foreign policy, would 
the United States require after the 
collapse of the Soviet Union? How 
should U.S. forces be organized and 
funded to cope with new threats, and 


how should those threats be defined? 

These were understood to be issues 
which Les Aspin, with two decades of 
defense experience in Congress and a 
subtle, inquiring mind, was perhaps 
uniquely equipped to sort through. He 
brought a nrst-rate team to the Penta- 
gon, men like John Rauch from MIT, 
Bill Perry from industry. Frank 
Wisner from the State Department. 

After several months of intense 
work. Mr. Aspin completed a thor- 
ough “bottom-up” review of Ameri- 
ca’s defense mission, forces and bud- 
get It received wide support in 
Congress and among experts for its 
comprehensiveness and intelligence. 
It was and remains a serious blue- 
print for the mission and structure of 
America’s armed forces. With the re- 


view in hand, Mr. Aspin fought ratb- 
or the 1 


er too vigorously for the White House, 
for the budget to implement iL 
As secretary of defense, be was criti- 
cized for the administration's policy 
failures in Bosnia. Somalia and Haiti. 
In Bosnia, the administration has suc- 
cumbed to a shameful fecklessness in 
the face of unspeakable crimes against 
humanity. But the failure to act (as 


Mr. Clinton said he would during the 
campaign) was the president’s own, 
aided by Secretary of State Warren 
Christopher's incompetent European 
diplomacy. The Haiti debade was also 
the president’s, with a tittle hdp from 
his friends on the HQL 

(Mr. Aspin’s private view on both 
Bosnia ana Haiti was closer to that of 
the critics in Congress than that of 
the policymakers in the White House 
and the State Department, bat be 
kept it to himself, as any self-respect- 
ing cabinet officer would.) 

Only with respect to Somalia is it 
fair to criticize him, although the criti- 
cism often confuses tbe root cause of 
the failure (Americans were there for 
the wrong reason) with the military 
means employed to implement an un- 
sound potoy. His decision not to drive 
deeper into" the Somalia quagmire by 
sending in heavy armor had some un- 
intended consequences to be sure. But, 
unlike his detractors, whose talent for 
shifting blame is undeniable, be ac- 
cepted responsibility — far more than 
was justified — for administration 
mistakes in Somalia. 

He had more than his share of 


thankless tasks. With Colin Powell, he 
fashioned a workable solution to the 
crisis that the president precipitated 
by the clumsy way he sought to keep a 
campaign pledge to end discrimina- 
tion against gays in uniform. 

Mr. Aspin worked hard to fashion 
a compromise that balanced tbe need 
to offer greater combat opportunity 
to women while protecting the com- 
bat readiness and efficiency of — like 
it or not — military institutions with 
a Long, contrary tradition. 

He brought tbe Tailhook scandal 
to an honorable conclusion while re- 
sisting the pressure to cad it easDy. 

The Clinton administration's re- 
cord in. 


Enter Inman the Insider , Right at Home 



Internationa! Herald Tribune 


KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 

C.iftofWd 


RICHARD McCLEAN. Chief Et* umv 

JOHN V I N OCUR . E\fcntr. cEdn^ £ WePnalru 
• WALTER WELLS. Vo. j Fd&v • SAMVEL ABT. KATHERINE KNORR and 
CHARLES MITtHEUWORE Depun Editnn * C \RL GEWIRTZ. Aw..wJefiifcr 
• ROBERTJ. DONAHUE. hAtnrijtlKEapti.il Pant •JONATHAN GAGE. and Fkkatce Edirnr 

■ RENc BOND Y. Depot: PuNidur • J/\MES McLEOD. Adienisinv Due.nv 
i JUANITA L CASPARL IrJmvii nil flnri i*rrn Uinxiirm ROBERT FARRE. OmtUaurt pinw*. Eim <jv 
Dtm hvr .ktii Pubhmius: : Ru hard It. Strum «■ 


I brcnutinul Hoaki Tribune. 181 Avenue Clarfir^-Gntlfc. ! Njj:I1>-:43-Slhv. Ftjim;. 

I Id. : 1 1 1 40A7.95 « tt. Fox : Cmaibnon. 46J7W.5 1 ; AJvcrtiswc. -^072*2 1 2 

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I Sins. Dir UK. 'ksrrv Tname. 63 Lum; Acre Lmd>m VIC2. Td. Ft n; ttCh 

Gai Afw. German-.: W.LuSerhadt. Fndndar. t5. M&Ft Td ifttUTZA? 51 Fa RWi 72 73 /0 
: Pres. LX- Mehiri Oww, JkSW TranMie. .Vru Y<n N.Y MCI Td ’2l2t Fae t2l2> 3b 
! S.A cu capital de !.2W.i*tO l. RC' ft 'j hCIRi. fl-nuriisiVfi Puri:, .-ire V.. t>l.*.r 

imcnuami Herald Trihar. Uln-M". totnoL EX' 



N EW YORK — When President 
Bill Clinton last month chose 
Bobby Ray Inman as his next secre- 
tary of defense, establishment Wash- 
ington gushed. Politicians and jour- 
nalists vied in their adjectives for the 
retired admiral: brilliant, shrewd, 
masterful. Why the awed response? 

Has Mr. Inin on shown himself to 
be another George C. Marshall a 
former military officer with the vision 
of a statesman? Is he a Henry Stim- 
son. a great Republican figure who 
can help bring the country together 
on issues of war and peace” 

No. the most enthusiastic Inman 
fan would not make such claims. Mr. 
Inman is, rather, wfaa: Washington 
admires most: an inside man, some- 
one who knows the players and how 
to move them. Over the years he has 
made friends among politicians and 
the press; he is a master at massaging 
those egos. He said it himself at' tbe 
press conference with the president: 
“I am an operator." 

There is no doubt that he is smart 
His congressional briefings, without 
notes or aides, impressed members 
on all sides. But there are questions, 
important ones, about hL- judgm«t. 

He was deputy director of central 
intelligence in the R easaa adminis- 
tration. under Wiliam Casey. When 
he resigned ui March 1581 he got 
credit for leaving in disgust a: Mr. 
Casey’s penchant for freewheeling — 
and often lawless — coven opera- 
tions. But the real reason was more 
likely that Mr. Casey, a lone wolf, 
had cut him out of decisions. 

Just weeks before bavins, at a CIA 


By Anthonv Lewis 


press briefing, Mr. Inman produced 
photographs that be said showed bow 
the Saodmisus were lengthening air- 
port runways in Nicaragua to accom- 
modate new Soviet MiG fighters. The 
briefing was pan of the Reagan propa- 
ganda campaign for its covert war on 
Nicaragua. In facL tbe Soviet Union 
did not send MiGs to Nicaragua. 

When be left the CLA and went 
into business. Mr. Inman remained a 
consultant to the House intelligence 
committee. He resigned from that 
role m September 1982 because the 
commit icc issued a staff report on 
U.S. intelligence in Central America 
that Mr. Inman considered ‘'deeply 
flawed." So he told a group of retired 
ifltefljgoKC officers. 

The staff report was extremely de- 
ferential to the intelligence communi- 
ty. expressing sympathy for the diffi- 
culties of collecting intelligence id 
Central Amffica. But it did offer some 
criticism. Intelligence officers, it said, 
had given briefings in did ting that Sal- 
vadoran guerrilla officers had been 
trained in the Soviet bioc. But when 
questioned intelligcrtce people with- 
drew that implication. Under ques- 
tioning. officials similarly withdrew 
suggestions that a Washington Prist 
ankle on savagery by the Salvadoran 
military was guerrilla "propaganda.” 

The report found that U S. intelli- 
gence had not considered right-wing 
violence in El Salvador a serious sub- 
ject for attention. It found that docu- 
ments captured when tbe right-wing 


leader Roberto d’Aubuisson was 
charged with plotting to ovothrow 
the Salvadoran government were not 
examined. It criticized State Depart- 
ment officials for ibdr dismissal of 
newspaper reports of a massage in 
the village of S Mozote. Mr. Inman 
considered all that “deeply flawed.” 
But tbe staff report’s mam points 
have long since been confirmed. 

Then there is Mr. Inman’s role as a 
proxy director of International Signal 
and Control. The company’s bead, 
James Guerin, is serving a 15-year 
prison term for illegal military ex- 
ports to South Africa and for what a 
federal judge called “the largest fraud 
ever perpetrated in North America.” 
How could that have escaped the 
attention of a very smart man? 

International Signal and Control 
made duster bombs, a terrifying 
weapon, and sold the technology to a 
Chilean arms manufacturer — who 
exported the bombs to Saddam Hus- 
sem's Iraq. When James Guerin 
faced sentencing. Mr. Inman wrote a 
letter to tbe judge praising Mr. Gue- 
rin's “patriotism." 


'SO 

tter at home or abroad. The president 
and his political advisers know that 
things have not gone well where these 
matters are conconed, and this had a 
bearing on Mr. Aspin’s departure. 

But as the president looks at his first 
year as commander in chief, his un- 
comprehending Stare has nothing to 
do with deficiencies, real cr imagined, 
at the Pentagon. They have everything 
to do with the absent leadership of a 
president whose knowledge of defense 
matters is only slightly greater than his 
interest in them, which is zero. 

Les Aspin served honorably and 
well at the Pouagon. He has become, 
like his disti n g u i s hed colleague, for- 
mer Deputy Secretary of State Cfiff 
Wharton, a victim of men who would 
shift responsibility from themselves to 
others. ThaL sadly, is becoming a hall- 
mark of the Clinton White House. 


meat facilities for wraP and medium 
industries lhatcannot affqrd their own 
equipment,' and facilities for treating 
and disposing el tonc .and .hazardous 
wastes. Failure to act in these two 
areas will lead to higher costs in future. 

- .. It is easier to dean up industrial 
pollution in a growing economy than 
in a stagnant one. Higher growth al- 
lows for more rapid turnover of aging 
technology, quicker restructuring of 
indnstiy and its prodnet mix, greater 
opportunities for attracting foreign 
partners and technology, and higher 
public revenues. 

Environmental lending in Asia by 
the World Bank alone mil probably 
amount to about 51JZ billion amnud- 
ly over the next few years, double the 
level of the early 1990s. However, 
mndt more money arid expertise is 
needed to achieve sustainable eco- 
nomic growth in better harmony with 
the environment The additio nal re- 
sources wfll have to come from other 
foreign donors, governments in the 
region and tbc private sector. 

The environment in Aria is one of 
the greatest development challenges 
in the world- today. The reason is not 
only die complexity of the eayironr 
mental issues bat also the complex 
linkages between growth, population, " 
poverty and the environment - • _ 

Asia has already shown that^co- 
nomic growth can reduce the rare of- 
popula&on increase and the inodence 
of poverty. However, to sustain die 
economic grins made in recent ydus,- -. 
greater priority must begtyot todevd- ; 
oping sound environmental policies 
and die public and private instrtufioiK 
capable of applying them. 


The writer, a resident fellow at the 
American Enterprise Institute, war an 
assistant secretary af defense from 
1981 to 1987. He contributed this com- 
ment to The Washington Post 


The writers ; ec on om is ts nrihie'Asia 
Technical Department af the . World 
Bank , recent/? prepared a bankjSsaa- 
sian paper entitled “Toward m'Enri- 
ronmental Strategy, for. Asul". I hey 
contributed this comment to the Inter- 
national Herald Tribune: - - ■ 


-4 - 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 
1894: Raid on Honduras 


NEW YORK— War between Nkata- 
gua and Honduras has begun. G eneral 
PoHcarpo Bonilla, leader of the Hon- 
duras insurants, has invaded Hondu- 
ras from Nicaragua, and has ca 
the town of Yuscaian, where he 
up a Provisional Government 


new cement to hold thes&pqpples 
■» . jjqj oar privilege tossy 


set 


set up, but we are friends, anditBOur 
duty as their friends to'see to St that 
same land of protection 
around thorn. Our task at Fansri to 
see to it that aD tbe mere forces ttef' 


as 


Move from the past to tbe present 
ic great challenge facing tbe Dc- 
' e Department is to reorder priori- 
after the Grid War. Mr. I nman 


r him by 


will almost certainly oppose an^reor- 


for 


; — and make it imposri 1 
ent Clinton 10 act 
Mr. Clinton came to Washington 
as the voice of change. But the Inman 
nomination and the gushy reaction to 
it show tbe power of the s mt u s quo 
inside the Bdtway. 

The New York Tones. 


1919: Balkans’ Future 

ROME — President Wilson 
follows at a reception given far 
Italian Senators this evenir ” 
w Ihe disrmguishfng fact of tins war is 
that great empires Save gone to pieces, 
and tbe characteristics of those em- 
pires were that they hdd different peo- 
ple reluctantly together under the co- 
«Qon of force. Tbe great difficulty 
among such States as those of tbe 
Balkans has been that north of them 

lay disturbed populations which were 
teld together, not by sympathy and' 
friendship' bot by the coercive force 
ot a mill 
arc 


wfaicf'tto .people' of die 
readily respond. We know dzsfe csn~ 
not be another balance of power- 
That has been tried and found v ‘ 


toted for a balance of powerir&al -- 
tiring-must be a League of Nations. - 


a military power. Now the bonds 
: broken. We are going to provide a 


1944: Chancellery ffii -1 

LONDON (—.[From our New Wc 
edition:] Nazi rescue squ^stoaeie-. 

attempt to. save officalr trawedj? ; 
Adolr Hitler's CbancdlHy -w^ 
British planes -spread ram- ■ 
the center of Baiur to- 
la-day morning pEifl. 3]. 


* 


. - i 

t- ! 


Tbe industrial sector in Easf Aria is 
now more'than nine times larger than 
it was in 1965, while in South Aria it 
is four times larger. Poflutibn 'and 
toxic waste have risen in line with this 
growth. The impact on public health 
is compounded by the high concen- 
tration of industry, especially in East 
Aria, and by water riiortages m inr 
dus trial areas, particularly anrihg diy - 
seasons. As a result,, excessive^ 
amounts of pollutants are deported 
in surface and ground water. - -> 

To reduce industrial pollution, .a 
multipronged approach is required; 
This must start with gbvenmieat 
co mmi tment and a demonstrated wfll ; 
to dean up the most polluting mdus- 
tries. Effective poUatwn control sys- 
tems require removal of subsidies and . 
the definition of dear standards. This 
mast be fallowed by a oombntetion 
of incentives, regulations and moni- 
toring activities, toenforpe. fijc stan- 
dards. This is an tatomous challenge. 

Two difficult areas remain that re- 
quire additional public resources and 


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Anns and ibe Um- 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY 4. 1991 


OPINION 


amed Boris Yeltsin 


if® 


i Jils£ iVot a Hollywood Subject 

! N ^SSK By *«* Wd» 


By Vflliam Pfntf 
General Ch 

x te^Ticw year^aijusii-; dodiacdio] 
5®J“n^oce m the domestic - Richard b 
TOP«t bat no reason ai aH to ■ sirirc with r 

^^ff^S^yearualwadm hramembe 

|^ratcn»tomlrdato)a5.Tbc&>- elusive chib 
maban and Hainan fiascoes have.. ... And Hen 


Prc*cfa totSe 

summit meeting anfinns. 

Hie Clinton aflmintetmiqtt ro- 
tetocordraipIatctlK 
the Bosnian affair; resorting to the 
hypocrisythat -leadership in the 

mauer has been ceded to Westera 

Borppe. Western Europe is itsdf 
mired. ircwhatpne French dipio- 
mat calls "the sinister cmnisrof 
providing ^ humanitarian aid that 
lacflxtates conquest and atrocity. ■ 
Was hingto n's policy for the rest 
of ex-Comraunist Europe consists 

of an. act of faith in 3oris Ydtsin.- 

1ms pexronalizatioa of American 
foreign ■ relations; is in the worst 
national tradition. Franklin Koo- 
sevdfs foreign policy was defined, 
by- his adnOTadcw for Winston 
Churchill, his misplaced confi- 
dence that he would “handle” Sta- 
lin, his avuncular, patranaae of 


lauonmcpu- 
whKhns ao- 


General Charles De Caulk; who 
“pcimed to be patronized. . 

Richard Nixon add bis relation- 
«^ whh Leonid Brezhnev gave 
^membaship in “the most GX- 
etusive chib intoe world,’*- - 
.-.And . Henry Ki<«jngw became - 
fascinated with tbe ^raaous and . 
briffiam” -Chou En^UdHcooe Qn- 
oa’s subsequent success in playing 

the Nixon administration 
.the Soviet Union. .. . 

. The Clinton ; administration's 


% 

!# ! $ 


L »?:.'■ Sto’.tfr. Spiclbi.’*? - * Hok*- 
rnv-ie. i.*s icjr-.'rtn in pc- 

lit*- ;oser^r> E-er-onc from toe 

rsovitf > *o ?:c>;^er.i Bill 
Clir.vr. r.^N ,t 5 ir.at-ter- 
piecs. -it.". s,:*r.; rmhusiests 

™ MEOTKILE 


ed re-crcaiion. of anessautaBv.bi- 
polar Europe, in which a future 
R^sia wH play a stabilizing role: 
It conceives itsdf to be c^toorat- 
mg with Boris Ydtan to create diis ' 
Kussia. An uaquafified coanut- 
.moat to Mr. -Yehsin is seen as 
a necessary counterpart to Mr. 
Ydtsin ’s connmtnKat to an Amex-. 
ican ciwc^lkin of democratic and 
capitalist rdram v & 

. . The American reform moddhas 
until now produced a great deal of 
\pnbBc misery pi : the. former Soviet 
Union., with, liimted. and, fettle' 
positiyc result. . .. 

Yeltsin is uaqucstiomSly an im- 
pressive figure, but so was ^fiihail . 


i ; -\; : 




o:r.redl\ 

*. V ■ - 

It. 2 read ns 

:a:. at 5 

tea:* 16 

nunutes. the 

!r, is -o; 

a ru.nen 

: too long. 

“Sdfod 

isrV. Liv." 

* ;> the cul- 

ire"? 

Mwsiih: 

:ne antidote 

i ■!**» 

> *44 V 4 1 

if -.:, “2 7 ^; ; 

; Lit iwr b 1 . 

■- Roper 


.ion in ahich 




By HAGEN m VoiktB Gut lOikn. CAY Srilavt 


Gorbachev before him, and Mr. 
Gorbadicv changed (be history of 
W country for the better, which 
.Mr. Ydtanhas yet to do. He is not 
the only potential leader of Russia 
today, nor do we know that he is 


Prepare for a Year of Bloody ChaUengt 


T HIS YEAR, could be the 

bloodiest and mast frustratin g 

period of the post-Cakl War wodd. 
From histo^s perspective die nud-" 
1990s are ukey to be hoarded as 

critical in shaping a ^ qxxh. . • ; 

Deng Xia^ing, China’s pare- . 
mount leader, will defy the odds if . 
be survives tire year. Hxs passing 
will offer a. pretext for change, 
or new demands . for it, in ihe 
wrald’s last empire. 

In Algeria, Muslim resistance is 
b ocomiM'tltekmdflf land^ 
the broaosr Irianric movemeni that 
ihe legendary baule of Algiers was 
to ThiTO Workl independence 1 
And upheaval seems unavoid- 
able m-ZauvwbereJhe currency 
has faQea from 300 to the dollar in 
1990 to more than- 100 huHton to 
the dollar last mohth. Huznan- 
xights abuses are reportedfy lhe- 
worst since iUjp 1960s ^dvil war. . 

iy is B^'to^ejud^byoYa^l' 
progress cm democracy r-r* tread. . 
now in serious trouble. 

Demoaracy is faffing to paw--* 
trate deqi. enough into other state 
apparatuses' or sodedes. Threats 
wifl play out on several fronts. Ihe ; 
first is m dectians, wbae ffie xe- ; ' 
salts of , change, are Bfedy. no be . ' 
increasb^lmevre~often faihg«' : 
:ing to pqwertha ; 


unexpected. The rise of the ultra- 
nationalist Vladimir Zimhiovs^ 
inRnsaandetritHB last amnh. for 
exau^le, (risures that stales oa 
Rusaa’sperijffieiywillincreafflng- 
ly be Hash points. .... 

...In Brazil, as innsiny new demot> 
Tacies, the people’s faith in phnal- 
. ism is beihg tested by penfid eco- 
nomic. reforms, crime and 
coaiqitxxL The arnma? inflation 
. last year bit Z500 percent as free 
markets helped widen the enormous 
gap behwen rich and poor. 

- ' Sa»i?4 demands for greater 
paroapaJioa will often contribute 
as much to dismernberina states as 
' to fJurpging thmi vw thiri Rnt riicj^v . 

L.tegration is less lidy to be along 
hem, predetermined borders, as 
when the 15 Soviet republics be- 
came 15 independent states in . 
19SHL. Redrawing the wedd map 7 
will often be mesrier. 

Third, countries from North Af- 
xkaroSoathfiast Asia, attanptiag 
.to. fo^esri^I greater participation, 
will also fie flash points in 1994. 
Besides Algeria, crises are looming 
in states from Egypt to Tajikistan, 
where Islam appeals to be a popu- 
lar alternative but gcrornmenis are. 

KaHritig jajhfiE. t h a q acn ommndnt - 
hrestrorig pubGc scntanenis. 

-^Stefbe 


' Precedents in 1993. between Pries- 
rimans and Israelis and between 
South African Hacks and whites, 
bode welt in other areas. Barring the 
unexpected, Israeli pacts with Syria 
and Jordan are Kkdy in 1994. 

Yet peace opens up as many 
issues as it resolves. Ending the 
Arab-IsnteB conflict, for example, 
efiminates tbe defining issue for 
several Arab leaders. Rather than 
stability, peace may usher in great- 
er short-term instability. 

Bni the democracy movement is 
hot being derailed. Too many peo- 
ple now know their rights to allow 
a long-term reversal The biggest 
challenge of the year trill thus be 
helping democracy overcome the 
obstades and take permanent hold 
— so 1995 wiB be better. 

—Robin Wrigfrt, commenting 
■ in the Los Angeles Times. 


the best one. Even if he is. he is not 
helped by America’s sponsorship 
when the nationalists* charge 
against him is that he is setting his 
country to American imperialists. 
German revanchists and "cosmo- 
politan” capitalism. 

The record of unsuccessful 
American nominees for power in 
other countries includes not only 
Chiang Kai-shek and France’s 
hapless General Henri Giraod. but 
Ngo Dinh Diem, Nguyen Van 
Thieu and Nguyen Cao Ky in Viet- 
nam. Lon No! in Cambodia (in 
order to oast Prince Sihanouk), Jo- 
seph Mobutu in Zaire, the late 
shah of Iran. Greece’s cabal of col- 
onels in 1967. Jonas Savimbi in 
Angola, and a series of Latin 
American dictators memorably 
characterized by Franklin Roose- 
velt as each being "an SOB, but oar 
SOB.** It is a list which Mr. Clin- 
ton's newly appointed deputy secre- 
tary of State, Strobe Talbott, author 
of the Clinton administration's poli- 
cy toward Russia, might profitably 
reflect upon. 

A consequence of American pol- 
icy is that Russia is bong allowed 
10 dictate American security policy 
toward Russia's former victims in 
Eastern Europe, who want security 
assurances from NATO. Washing- 


OBUMNT 


LETTERS TO THE EDITOR 
Anns and4yeCze<3w T^t^&flteXnwtk 

>•'. ..... ; ■ ness is sunple~ — it seems 

Regarding; “Ant They-^Bdmng .‘that people in possession 4 
. Iran Go Nuclear?* (Opinion, jjec. and'fuH «lucafion would 
28) fry WiSam Saflie? hb^yto tatot-acriiHi detrin 

Mr. Safire’s ^aremoogeimg ar- themaiyra or others, 
tide, resurrecting oklgfcosts ef fhe - ; DOUGLAS G. TUB 
Ccmrmnmst past as it does, is nnbe- ■ eambrimrte-lfcs^tib* 


isrmbe- 
hc, since 
, is wdl 


gntoto g freedom .in 1989, is. well 
aware of its motel and othar re- 
sppBabiHtics to -die mtemational 
ommnnhity; there is np heed for it 
tobereamwed '/ V 
Ibe whole mailer of the enxHt 
of. arms from the Czech Republic, 

w^Md^ppenly dw^mto^® ar 
peficy keftar and aqrepted by tw 
ndernatioad community. An tf- 
fective and prowar legislative 
framework is m place to mpriitoa:. 
and ccratraLsudi trade : . 

. Mr. Safoe should also know that 
since 1990. the explosive Scmtex, 
which has many 1 valid mdusttial 


• 7 . » rv lv» rl 1 1 • kvf » * v- * h * ¥ — . vi * * * 


i?hi; 


The osm for the American sick- 

riess is sanple — it seems obvious 
‘ that people in possession of a rich : 
and : f8D «lucatipn would be im- 
Kkdyto tatotacrimi detrimental to 
themtetyes or others. _ . 

. DOUGLAS G. TURNER. ' 

. V Cteilrionafr'tt^ ;■ 

• Franoe. - 

f -Bm litad nf htarmg nf the rar- 
□age thai aflBote Aukoca. The 
promm lofefcw never tires of re- 
nanmng us that the ,UJ5. Omstitn- 
rion says that ^The rijhT of the 
people to keep and bear aims djall 
not be .tefriMed," and that the 
Foundmg Fathers intended guns 
tobeftymlaHcitoalL - 5 : ••• > ir 

Nonsense! JCKs; quote most be 
die most nusundenstoodeteuse of 
tite constitution. Consider the full 
text of the ' Second Amendment: 
“A wdl iegulated irriBtia being 
necessary to the security of a free 
state, the right at the people to 



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ton will sot give these assurances 
because Russia objects, and be- 
cause the administration calculates 
that Mr. Ydtsin might be weak- 
ened were the United States ar.d its 
allies to guarantee the newfound 
independence of the former vic- 
tims of Soviet aggression. 

The result, predictably, is soar- 
fog anxiety in Eastern Europe, a 
defensive nationalism and provoc- 
ative policymaking there, together 
with strengthened nationalism in 
Russia as Russia's nationalists fire 
they are exercising an effective 
veto over Washington's polioes. 

The foreign policy legacy of this 
administration is chiefly that of the 
Carter administration, in which 
both Mr. Clinton's secretary of 
state and his national security 
adviser served. 

Mr. Carter’s foreign policy wjs 
marked by abundant goodwill but 
an unfortunate overconfidence in 
the goodwill of others. It displayed 
little grasp of the force of cultural 
differences or the clash of geopolit- 
ical and ideological motivation. 
The Carter government's qualities 
produced the success of the Camp 
David agreement and the disaster 
of Washington's response to the 
Iranian hostage crisis. 

Mr. Carter understood Ameri- 


-2 percent c? the .^nencaa pub- 
lic s\p: esisd iiMib: that the Nazi 
etrterntin^tL-n of :he actual- 
ly borpes^c. 

Sow r,%. I i*ked r.; self, did this 
particular A-r.sr.c^r Jew find the 
fijr. mere of:er. riumbtne than 
.Ttovir}?? And .-.h ;r. I skeptical 
tr.a: Holocaust isr.oramuses win 
see it. ie; alone re swayed b> it? 

The sre-biens :? r.o: that the 


can sir. arc Americcr. sinners, but 
was cut of his depth cordronung 
the «:-':onar> fanaticism that 
emerged in the Islamic world 
during the 

The aatlcna::?! fancucism and 
paranoia in the Balkans to- 
day se-.T t-cu-1 !> Nr-ond the ranee 
of intellectual resp r-r.se among the 
C.rcton aimfoisLatjor.'* foreign 
policy pe:?!e. The;, seem not to see 
p «!:::cs pewer. aagresrion and 
personal amritior, in Balkan war. 
but mere trap tier, of medieval fa- 
naticism. irrelevant u. Washington 
man ‘.c: Arkar.saa woman). Fnat 
Balitan war r. metne'ess will have 
ccasequer.ee?. for America's future 
tiisy seem r.ci :o see. Their atten- 
tion is on Moscow. 

However. Mi>scow s immediate 
future is ceeph uncertain. Ameri- 
can and Wesiero interests, and 
East European as well as Russian 
steriiity. .ire ben ser.-ed by sutioa 
clearly wfw: America’s interests 
are today, and ickina steps to as- 
sure them, while doing whatever a 
friendly power can do to help re- 
form in Russia — which may prove 
to be ooi all that much. Reform in 
Russia will be produced by Rus- 
sians. not Americans. 

International Herald Tnhme. 

- Los Angeles Times Syndicate 


teiesied Mr. Spielberg has made 
an inept, insincere or vulgar film. 
"Schindler's List" is not "The 
Color Yellow.'" 

Its only fabulously cheesy 
scene is j finale in which the 
righteous German war profiteer 
Oskar Schindler iplayed by Liam 
Necsos) gives a sentimental 
speech to the Jewish factory 
workers he saved, and they 
look up a< him awestruck, as if 
he were ihe leviialine mother 
ship in “Close Encoumers of the 
Third Rind.” 

Olher sequences are siunning. 
especially the homfic passages 
of hand-held, pseudo-documen- 
tary camera work that depict 
the liquidation of the Krakow 
ghetto and the gas chambers, 
at Auschwitz. 

Bui if such atrocities are made 
exceptionally vivid by the direc- 
tor's cinematic brilliance, their 
emotional power is muted by the 
anonymity of toe film's Jews'. Mr. 
Spielberg has found hundreds of 
evocative faces to populate his 
simulated Holocaust, but their 
souls are skin-deep. 

The only major Jewish charac- 
ter in the script. Mr. Schindler's 
accountant (Ben Kingsley), is a 
t>pe — "king of toe "Jewish 
wimps.” as one of the movie's 
few tough critics, JJene Rosenz- 
weig of the Jewish newspaper 
The Forward has put it. 

The others, who have the ge- 
neric feel of composites, are as 
forgettable as the chorus in a 
louring company of “Fiddler on 
the Roof,” or, for that matter, 
the human dinosaur fodder of 
“Jurassic Pork.” 

They blur into abstraction, be- 
coming another depersonalized 
statistic of mass death. Since 
Oskar Schindler is also presented 
as a psychological blank, no won- 
der toe unbinged Nazi comman- 
dant (Ralph Fiennes) runs away 
with the movie. 

f cried at Mr. Spielberg’s 
graphic depiction of genocide 
anyway. Weaker Holocaust dra- 
matizations than this have 
pushed my buttons. Like anyone 
who is Jewish, knows Jews or 
simply knows history, I can flesh 
out the human ciphers in 
“Schindler's List” with charac- 
ters and associations of my own. 


This may be the ca?e for much 
of the ierge and. f imagine, heavi- 
ly Jewish audience* who have 
made the movie a hit so far, in 
major American cities where re- 
medial education about the Ho- 
locaust is less needed than any 
place this side of Israel. 

But whet will happen when 
“Schindler's Lisi" js released in 
the great American malls, not to 
mention other countries, where 
Jews are sparse? Will teenagers 
check it out? Will audiences who 
have never heard of “Shoah" or 
“Europa. Europa"? 

They might do so more readily 
if Mt. Spielberg's movie were not 
so self-indulgemly long — by a 
good hour. (This same syndrome 
afflicted Spike Lee's "Malcolm 
X.” which ended up preaching 
mainly to toe converted.) 

The film might also more ef- 
fectively draw- indifferent audi- 
ences into its historical night- 
mare if the Jews on screen were 
as individual and intimately dra- 
matized as Anne Frank or even 
Meryl Streep's Sophie. 

What is most worrisome zbout 
the wild overpraise of 
“Schindler's List" is the compla- 
cency it ittvites. The hype is al- 
ready taking on a life of its own. 
wrapping the movie and the Ho- 
locaust in a neat, uplifting Holly- 
wood ending that allows every- 
one to sleep easier. 

As ibis comforting litany has 
it. some MOO Jew* on Mr. 
Schindler's list did survive, after 
all: the Nazi sadist did get his 
just deserts: Mr. Schindler's he- 
roic example may inspire others 
to resist future Nazis: a hit movie 
will eternally preserve the Holo- 
caust in the world's memory. 

And there is a happy ending 
for Mr. Spielberg, too: Having 
come of age as a Jew. he may get a 
prize greater than a fountain pen 
— the Oscar he has so long and 
unjustly been denied. 

“Schindler's List” is good news 
for everyone, it seems, except Tor 
its shadowy and often nameless 
extras, the 6 million dead. 


The writer, who was The New 
York Times's chief drama critic 
for 13 years, begins a regular 
op-ed column for The Times with 
this contribution. He will provide 
commentary on American society 
and culture. 


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Page 6 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY 4, 1994 


Ulster Conflict Hits 
A Semantic Barrier 
At 'Demilitarize’ 


By Eugene Robinson 

Washington Pest Service 

LONDON — The search for an 
end to the war in Northern Ireland 
became a matter of semantics 
Monday, with important players 
on all sides trying to clear them- 
selves some rhetorical room for ma- 
neuver within the confines of a 
joint British-Irish peace initiative 
launched three weeks ago. 

Chiefly at issue was a call by 
Prime Minister Albert Reynolds of 
Ireland for the “demilitarization" 
of the conflict, and for both the 
British and Irish governments to 
become “persuaders" in advocat- 
ing a new agreement 

Those are words used frequently 
by the outlawed Irish Republican 
Army, which has fought for nearly 
25 years to drive the British out of 
Northern Ireland. Mr. Reynolds's 
comments were seen as an attempt 
■ to offer further inducement to the 
IRA to end its violent rampaign 
and accept the invitation to the 
bargaining table. 

Moderate loyalists, who want 
Northern Ireland to remain part of 
Britain, reacted by accusing Mr. 
Reynolds of trying to drag the en- 
tire peace process closer to the 
IRA’s position. Hard-line loyalists 
said the remarks confirmed that the 
whole initiative was a sellout. 

Earlier, a senior official of Sinn 
Fein, the IRA’s political arm, took 
an uncompromising stance, saying 
that anything short of a decision by 
Brilian to pull out of Northern Ire- 
land would be unacceptable. And 
Prime Minister John Major of Brit- 
ain said he would “be patient fora 
little while" in awaiting the IRA's 
response, but added that if the 
group rejected the peace initiative 
it would face near-total isolation. 


The subject of aQ the verbal war- 
fare is the joint declaration issued 
Dec. 15 by Mr. Major and Mr. 
Reynolds, in which they invited 
Sirin Fein to participate in prelimi- 
nary talks about Northern Ire- 
land's future within three months if 
the IRA lays down its arms. 

Britain agreed not to stand in the 
way if the people of Northern Ire- 


land want to join the Irish Repub- 
lic. while the republic agreed there 
could be no change without the 
consent of the loyalist majority. 

The IRA has not yet issued a 
defini tive response to the offer, but 
spokesmen for Sinn Fan have re- 
peatedly hinted that more conces- 
sions will be needed to convince the 
IRA’s “volunteers'* to give up their 
bullets and bombs. 

In a statement issued Sunday 
night, Mr. Reynolds seemed to be 
trying to sweeten the pot 

“The time has came to start a 
process of demilitarization of the 
northern conflict" he said, adding 
that the declaration anticipates 
both governments’ becoming “per- 
suaders" of public opinion. 

The IRA uses the term “demili- 
tarization" to describe one of its 
most cherished goals — a British 
pullout of its more than 17,000 
troops in the province. 

Britain has consistently refused 
to discuss troop withdrawals until a 
permanent cease-fire has been 
achieved, and Mr. Major takes the 
position that the British govern- 
ment will not seek to persuade loy- 



WALESA: Plea to West on NATO 


Qntfaiwri from Pqel 


Two factors contribute to the 


and London. Urn stauioa is.™* Jsjmess of WHcIa ' 5 

turns. _ _ 


■amilar today.” . 

In his bhmtiest statement to date 


The first is the historical experi- 


^ ktato mfceofhbpeople,wlMhhes 


membership, Mr. Walesa. said 
SneWesttoissueacto 

road map and timetable for NATO SH? 

participation would be a “asgor ™6» 

tragedy? that coultflead to “anoth- wsp?® 1 .? Jj* 


B& Clinton when he met the Amer- JMw^tioeatmngagtm, 
ican president in toff* next wee|e b ‘gg^.^ ete ^ Wafflm 


fallowing the NATO sommjt meet- 


Xrvx.r communism no longer haunt s Eo- 

5 ?Ss 1 bSS 

dui not get his way, he added, he 


would not reject the “Partnership 

for Peace:” 

“There is nothing to be rejected." 
he said. “We are too weak arid we 
have to accept almost everything 
but we dcart forecast any thin g 
good for tins concept.” 


nomic and military, integration 
with the West, he warned, a bas- 
tardized communism wiS emerge, 
relegating toe .regian to years of 
instabi IHyand poverty. 

“Isn’t Zhirinovsky an evflT be 
said. “Isn’t that evil a sufficient 


" Mr. Walesa’s disapproval of the 
W«fs doHbm^ .mfkdts n 


widening gap hetwien the dreams ph? The nan emnple won’t be as 
and desires <rf the 60 millioa people ? mc - 
in Poland, Hungary and the Czech ’ 

jind the Hnmingnt belief - 

among Western leaders that the A • ' 

West — through investment and - I\A . 

the limited opening of its markets . v »r ■ q 

— has already contributed signifi- Jg a> U€dl S\€QTm " 
cantly to easing the rocky trans- v - -• 
tion to democracy. ' Continued from Page 1- 

Weston leaden contend that _ . _> 


KOREA: 




. . *V'- 


Continued from Pagel 


A Somali woman walking throogb the gate of the UN compound in Mogadishu on Monday asTuriosh sokfien stand guard. 


Repub' 

NATO 


2 UN Aid Groups Abandon Mogadishu Offices 


ubjic should put off their 
ID applications because an ex- 
don of the alliance might em- 


bolden nationalist forces in Russia 
and fatifiate thedownfallof Resi- 


dent Boris N. Yeftan. They ate the 
October ooun attempt andthe sup- 


alists of anything. 

David Trimble, a member of 
Parliament from the moderate Ul- 
ster Unionist Parly, accused Mr. 


Reynolds of “trying to pull the dec- 
laration closer to the IRA position” 


The Associated Press 

MOGADISHU, Somalia — Two United 
Nations aid agencies evacuated their Moga- 
dishu offices Monday after a wave of new 
attacks on humanitarian groups throughout 
Somalia. 


laratioo closer to the IkA position’ 
and of “going beyond itr 


Employees of the LIN Development Pro- 
gram and the UN High Commissioner for 


Refugees left their shared compound two 
days after an unidentified attacker threw a 
firebomb at a nearby building. An officer for 
the High Co mmis sioner said th«> agenc ies had 
received further threats but did not elaborate. 
Elsewhere in the city, machine-gun fire could 
be heard near the Hue that divides the com- 
peting militijxc of southern and northern 
Mogadishu. 


Aside from the fire-bombing, which caused 
no injuries, three gunmen attacked a UN 
World Food Program compound in Baidoa 
on Saturday, Iriwng a Somali guard and 
gravdy wounding a Somali driver. Earlier, 
two Somali aid workers were injured when 
grenades were thrown into the Baidoa offices 
of Catholic Relief Sendees and the Irish hu- 
manitarian group Goal Ireland. 


October coup attempt and the sup- 
port won by the nationalist Vladi- 
mir V: 22rirmovskyin toe Dec. 12 
elections as examples .of Russia's 
instability and of the necessity ,tq 
avoid provocative moves. 

Mr. Walesa and other East Euro- 
pean leaden argue just the oppo- 
site. The Zhirinovsky phenomenon 


and the coup attempt, are proof, 
they say, that NATO needs to ex- 
pand quxddy to send the Russians 


PEACE: Palestinian Delegation Urges Arafat to Step Down, and Hussein Accuses Him of Reneging on Promises. 


a ded- that they must nation* 1 monitors would only be 

abandon whatever drema they ‘ pmn^dnUo the cornn/s seven •. 
have of controlling Eastern S *^^***1^^ ■ 


Continued from Page I 
of the minds" between Israel and 
the PLO. but Mr. Abbas followed 
him to the podium to say there were 
still differences to be ironed out. 

Egyptian and some Israeli offi- 
cials say some of those differences 
are between Mr. Peres and Mr. Ra- 
bin. The two have been rivals with- 
in the Labor Party for years, and it 
is known in Israel that the prime 
minister thinks Mr. Peres is often 
tempted “to announce successes 
and rush (o take credit for them," 
in the words of an Israeli journalist. 

Still, the primary disagreement 
between Israel and the PLO fo- 
cused on what Israelis say was a 


written agreement at the end of the 
talks here. 

Foreign Minister Amr Moussa 
of Egypt, who attended many of 
the joint sessions acting as media- 
tor between the two parties, said 
Sunday: “There was more than one 
document and more than one pa- 
per thrashed out. These were to be 
put to the leaderships of the two 
parties for further refinement." 

There is little question, however, 
that Mr. Arafat's high-banded 
manner contributed to the eruption 
of anger in Israel and to the confu- 
sion among his aides. T-awHing at 
4:00 AJd. Thursday in Cairo, 
where his negotiators waited to 


show him the result of their efforts, 
Mr. Arafat surprised them with a 
new set of de man ds that transcend- 
ed the scope of the Cairo talks. 

“He should have warned them 
something like this was corning, but 
he didn’t," said one senior Arab 
diplomat who was involved in the 
talks. 

By far the harshest criticism of 
Mr. Arafat and of the PLO, howev- 
er, came from King Hussein of Jor- 
dan over the weekend. 

Long- simmering anger over the 
way the PLO has ignored Jordan's 
interests in the talks with Israel for 
the past four months burst into the 
open in an unusually frank speech 


by King Hussein on Saturday to his 
army officers, a group widely re- 
nowned for its deep antipathy to- 
ward Palestinians in general since 
their war to oust the PLO from 
Jordan in 1970. 

The king complained emphati- 
cally that Mr. Arafat had repeated- 
ly ducked every opportunity to sign 
an economic agreement already ne- 
gotiated with Jordan, which allows 
Jordanian banks to re open their 
branches in the West Bank and 
decrees that Jordan’s central bank 
will act as a clearing bouse For fi- 
nancial aid chann eled into the the 
occupied territories after an agree- 
ment with Israel is signed. 


“We have tried and we have 
overlooked many dungs but we 
cannot go on tins way," be said. 
“We cannot continue to say there is 
cooperation where there isn't or 
that there is agreement where there 
isn't. There must be a significant 
commitment, not words." 

King Hussein gave the PLO a 
Tuesday deadlin e to sign an agree- 
ment with Jordan. Otherwise, he 
said, Jordan would take unspeci- 
fied “unilateral" decisions. 

Bui even these disputes were 
overwhelmed by the growing revolt 
within Palestinian ranks, winch has 
reduced the PLO to a shadow of its 
former self, casting serious doubt 


on Mr. Arafat’s ability to enforce 
any agreements be readies 

Nearly half the 18 members of 
the once-powerfui Executive Com- 
mittee of the PLO have resigned to . 
protest Mr. Arafat’s stubborn re- 
tention of all dedaon-making pow- 
er. Scores of young PLO cadres in 
the occupied territories have quit in 
the past few weeks, saying they 
were being ignored in favor of cor- 
rupt cronies of Mr. Arafat. 

Many former dose 
such Mr. Abdd-Shafi and Hanan 
Ashrawi, the spokeswoman for the 
Palestinian delegation in Madrid, 
have broken with the FLO chair- 


Zhirinovsk/s comments 


that Russia and Germany should • . . ,. r . Tt 

share a common border sent shiv- \fig™cy requued^ty the frea^. It 


declared nuclear sites for one-time 
inspections. The announcement 
said North Korea refused to allow 
the kind of regular visits by the UN 


era down the Folish spine. The ex- 
pulsion of die Russian mili tary at- 
tach^ f«- stealing Polish Secrets has 
not helped matters. The official 
was booted out in early October 
after he was caught With milit ary 
secrets, Polish affinal* sa id. 

Mr. Walesa contended that The 
West in its prudence was faffing 
into the hands of Russian politi- 
cians who were playing the “Zhir- 
inovsky card” to sideline NATO' 
expansion and thus reestablish - 
Russian leverage in Eastern Eu- 
rope. 


did not farther describe the land of 
inspections it had agreed to. 

The senior American official 
who commented on Monday did 
not discuss details of the deal with 
North Korea, bet indicated the 
Pyongyang announcement reflect- 
ed the essence of the a gre eme n t. 
“We define progress the way we 
always haye — nstahlirfring the 
continuity of safeguards and re- 
suming tire North-South dialogue 
on denuclearization" of the Korean 
Peninsula, he said. ■ . . . 

■ . (AFP.Raaen.AP) 






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M ODERN Italian literature 
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from the untimely deaths of Primo 
Levi, Leonardo Sciasda and Italo 


Leri, Leonardo Sriasda and Italo 
Cad vino, whose works defined an 
era of European mxmoiL 


• Gabriel Jackson, professor 
emeritus of history and humanities 
at the University of Califoroia-San 
Diego and a Barcelona resident 
since 1983, is reading "Franco," by 
Paul Preston.. 

“I reviewed it It’s very enter- 
taining and well-documented. On 
the other hand. I'd never read 1,000 
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In calm tones, Levi's writings 
and his life explained what a terri- 
ble burden a man with a number 
tattooed on his arm carried, know- 
ing that others at Auschwitz hadn’t 
been lucky enough to survive. 

In his fiction, with great courage. 
Sdascia exposed the roots of toe 
Mafia and the corruption and by- 




poaisy at every levd of society in 
bis native Sicily. 


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his native Sicily. 

And Cal vino, in his constantly 
surprising stories, crea te d dream- 
scapes that resembled toe magical 
tales of the Latin American writers, 
perhaps because be was bora in 
Cuba. 


he called them. To say it generous- 
ly: Even a decidedly minor work 
such as this one can hdp to expand 
oar understanding of a writer’s 
reach and inspire us to read or 
reread his important books. 

You can trace the origins of Cal- 
rino's major ^ works in some of these 
exercises. Stylistically, they fail be- 
tween fact and fiction; put another 
way, they are autobiographical 
fragments written with novdistic 
touches. 


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If a serious author's work con- 
veys an original vision, we cherish 
every scrap of his oeuvre, including 
posthumously published frag- 
ments. Cahino’s “Road to San 
Giovanni" is a modest book made 
from five “memory exercises," as 


In a brief note, his wife, Esther 
Calvino, says that all the exorcises 
were written between 1962 and 
1977. Calvino, who was born in 
1923 and died in 1985, was one of 
the most daring European writers, 
but in these pieces be seems to be 
straining to create an original 
storytelling style. 


He .informs the reader thaf be. 
wants to indude only what his 
mind has retained of events^' avoid- 
ing research, omitting u ni mportant 
rirdatk challengin g hn rrwn nwnp- 

iy. ft doesn’t always work. _ 

Like several other anti-Fascist 
authors. Calvino was a partisan in a 
Garibaldi Brigade in northern Italy 
Hnnng World War EL In “Memo-, 
lies of a Battle,'" he recalls the cha- 
os of an encounter with the enemy. 
He had born assigned to cany a 

box of ftuMiuiflitinn 

along a steep mountain path, and 
what he remembers primarily is the 
box banging against his back as he 
slipped amT slid toward an enemy- 
held village below die mountain. 


Standing alone, the fragment is 
top self-conscious; we sense a writ- 
er writing instead of narrating. For 
a more rounded picture partisan 
activity during toe war, toe reader 
can turn so Cal vino’s own “Path to 
the. Nest of Spiders," the novella 
toat established his repmation. 

The most charming memory in 
this book is “A Cinema-Goer's 
Autobiography” a straightforward 
account of the author's adoles- 
cence, when he went to the movies, 
in San Remo, Ms hometown, once 
and sometimes twice a day between 
1936 and the beginning of the, war. 

The sto?y bears a strong resem- 
blance to Giuseppe Tomatore's 
“Cinema Paraduo,” toe movie 
about a yonng boy and toe projec- 
tionist in a Sicilian town, which 
woo the Academy Award for best 
foreign film 

In prewar Italy, theaters didn’t 
change films too often, especially if 
the fHmswerc American; movie fans 
memorized everything from “Lives 
of a Bengal Lancer' to “Mutiny on 
toe Bounty.” Cahdno remembers 
Myrna Loy, WQliam PoweO, Fred 
Asiaire, Gmger Rogers and dark 
Gable without a moustache. • 


Hits rnrit Mt and ran; three parti- 
rns died in toe encounter. Was the 


sans died in the encounter. Was the 
battle won or lost? He writes, 


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By Robert Byrne 

J UN XI E of China used the 
King’s Indian Defease every 
time she bad Black in her women’s 
world title defease against Nana 
Ioseliani of Georgia, and what a 
weapon it was. In Game 7 of the 
match . Jun again rtar7l«t with her 
vigorous play. 

As in Game 3 and 5. Ioseliani 
chose toe Classical Variation and 
Jun developed with 7_nc6, which 
puts pressure on White to resolve 
the center tension because of the 
threatened 8_ed 9 Nd4 Ne4!. The 
advance, 8 d5, yields White elbow 
room to organize an attack on the 
queen’s flank: Black starts his 
king's-flank counterplay with 
11. JS. 



44 Kc2 Qc5 45 Kb2 Qc8 wins the 
queen for mily a rook. 


DSCUMVWMTE 


Position niter 34 Rgl 


MPDUEA5T 


When Jun played_c6 in Game 3. 
Ioseliani opened toe center with dc. 


INIED MW EMMIES; Snjrii, 

:?L-;%)35II33. 
fe!»! 3745833 


but toat gave Jun good piece play 
after _.Nc6. This time, after 15 Khl 


A9A/PAORC 


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Ti £3173 h 32C1 0209 


after _.Nc6. This time, of ter 15 Khl 
Nf6 16 Nb3. Ioseliani kept to the 
basic plan of working on the c file. 

Each side continued its standard 
strategy, Jun sacrificing a pawn 
with 25~g3!? to gain open lines 
against the king offer 26 hg?! fg 27 
Bg3 h4 28 Bf2 NbS and Ioseliani 
scaling off her king with 26 Nc8 
Rc8 27 Ba5 Qc7 28 h3. 

j^ter 30,„Nh4, losehani under- 
estimated the enormous firepewer 


Jun had leveled at her king. It was 
necessary for White to bolster her 
king position further with 31 Bfl, 
and if 3I~Qg7. then 32 Ra2. In- 
stead, Ioseliani pressed her own at- 
tack into 31 Nb6? and was struck 


Ng2 33 Rgl. She knew that 33 Nc8? 
would have been futile in view of 
33_Qh4. But Jun blasted tins de- 
fense with 34 — Rcl! Hie resource 
wito35 Bflf would collapse against 
35„Qb4! 36 Bg2 Rgil^K^Q^ 
38 Khl Qgl mate. Morcvocx, 35 
Bdl Ne3 36 Rg8(36 Rel? is demol- 
isbed by 36-.QM 37 Q«a Ndl) Kg8 
wins thedl bishop. 

Accordingly, Iosefiaoi took the 
sacrificed roc* with 35 Rcl, buz 
35-.Qh4368n Qh337KglNcI 38 
Kf2 Qg3 39 Ke2 Nd3 40 Kd3 Qf3 
left her with only two minor pieces 
far the lost queen and toe gave up. 


ft would be hard to overestimate 
the influence of Ameri c an films on 
literature, in Emope as well asm 
the United States, in an asider.Cat 
vino says that Federico FdEni 
urged him to write “A Cmema- 
Goer’s Autobiography." 

The title story in the book is a 
memory of the author’s father, an 
agronomist, taking the road from 
Ins home -to San Giovanni every 
morning to supervise his workers 
and farm Jlis estate. . ■ — ^ l: 


Itje father comes alive only in the 
presence.of his /plants: the son is a 
dreamer who wifi eventually become 
Italo. Calvino, aiahor. .They find it 
difficult to communicate: ."To my 
father’s mod, words must serve as 


of possessor!; to nunc 


IMS INDIAN bEFETOE 


by the smashing blow 3J._Nh3l, 
threatening 32__Nf2 mate. 

On 31 ^ g2. it would have been 
useless to play 32 Kh2 because 
?2_Qg5 33 RgdI (33 Bel? walks 
into 33 — Qg3? 34 Bg3 fg mate) Qg3 
34 Kgl Qh3 35 Nc8 Qbl 36 KI2 
Qh2! 37 Kel (37 Rgl? alfows-Qg3 
mate) gl/Q 38 Kd2 Qe3 39 Qe3 fe 
40 Kd3 (40 Ke3? Ng2 41 Kd2 Nf4 
42 Rel Rg2 is disastrous) Ng2 41 
Bfl Nf4 42 Kc3 Qgl 43 Kd2 Qd4 


. WM» 
teT«nl- 
21 B62 
rt Bel 

23 tel 
U tel 
2S NAG 
28 Net 
27 BaS 

24 A3 . 

m 

ife- 

33 Rcl 

a an 
37 Kg 
33 JS 
3S SM 
40 Km 

41163- 


thexe are roam^; passages^ 
nature, fannly rfatiooshq>s7 
fo^s h _ world inhabited^ 

masterworks, “The Jtaron 1 
Trees.”' /.v 


Tbal nbvd b toe perfect! 
dtokm to- Cafyino’s laier'S 
far moreso than Lhe^manoff 


Herbert Mitgang is an then 
TheffcwiYerk: Times, 


; ; ■.T.'-r-Pc 


far linteto i i B irf Jntix ' malibn 
teodW MONEY ffiORT ^ 


wwy SiAjrdoy inHifr W ; 


fill I " 11 

•r5» * 


‘Mi l v 


,iln 


I • «*• 

.T J .i*" ' 

^ V - 


scmWy is, like Kim Yong Sun, be- 
lieved to be dose to Kim fi Sung’s 
son and bar-apparent, Kim Jong 
IL '■ /• ' 

There were some indications <m 
Monday toat toe agreement could 
be less than Washmgttm. arnLthe 
international commnnity has 
songhL. 

Em D Sung said Saturday his 
country agreed to a joint statement 
with Washington paving the way 
fof-toe nodear disrate b et we en 
them to be “settled fairiy." He did , 
not spell out details. But in a lata - 
announcement; • North Korea’s 
Foreign Ministry suggested inter- . 


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A ^ 

Tarns 10, bul 
Won’t Grow Up 

It Stays on Cutting Edge 
Of Fashion in New York 




Self-Starters: 
Words for the 
MTV Generation 


~ -ton**’ 

eaT 

d -Veo/J 

Ochai 


By Amy M. Spindler 

New York Times Sent oe 

^ T- EW YORK— In the 10 
1 years shce Paper Maga- 
Al zinefirst appeared, New 


" Who ' 

pop culture _"???■ 


stops. Still, as Erica Spdlman-Sil- 
vennan, a vice president of the Wil- 
liam Morris Agency, said, reading 
Paper “is a lot easia than gang oat 
cjgntnigbfs a wed until % in the 

morning to find out who's zoonring 

• ■ 


' vv. • -y* 


By CynthiaRose 


> : i4 I 


re • re . UWJ UUM1C - ' • ■ ■ 

scene has fragmented. " “FOr lire/* she said, “it’s a sbcrt- 

TTre meWngrpotoa of Studio 54, hand.. I don’t know tfiheydways 
when everyone wailed behind the pick the right people, but if F&pcx 
velvet ropes together, evolved into a gives their imprimatur to wme- 
dty tethered by velvet ropes c# toe body, ihatfs a. start for that per- 
imagjnaiy fchwt. First, rap culture soil. 

emerged; then, lap-hop and rave. The 10th anniversary issue, on 
The ’60s were revwd, then the 70s, sale new, is called “fire Annual 
and from the ashes of 1980s deca- Report 1994: Tea Years on ihe 

/lonrd onvit Oondntvwi Y . B fnnn Plltlrnff F/ipf 1 





dence arose Generation X, a group Cutting; Edge." 
of young -network taevison chop- Pmcr doesn’t just tty totednee 
outs who didn’t boy tire traditional w a manageable small 

marketing m ethods nsedhy mags- town with a lot of groovy inhabit- 
zincs and advertising agencies. ants. lt tarns the city into a sort of 
From tire start. Paper's indepen- hmk school for exceptional stu- 
dent, unpredictable approach to with aE tire lalHahinteoshy 

covering the aits, dobs* music and of ^ class yearbook, 
styte has appealed to a yo^mj- ^ ^ fomthe beginning 

has shared the tides of editor and Hastreiter with 

pobHiher with Darot Herahkowts arid Hershko- 

viis with his bald head have both 
per "she said “is not synthetic. 40 and have Bved m New 

Of the younger generation, Bul both exude tire 

Hers' kovits said. “TVe understand £ Si- hiimimi nf new ar- 


ucuu) , ■ 

of the class yearbook. 



L ondon — At a time . 

when its mainstream . 
press echoes with debates , 

about the decline in edu- 
cational standards. Briuin is enjoy- 
ing an unusual publishing boom: a ' 
wave of small magazines published 
for and bv young people. Most of 
these puSUcadons aim at niche 
readerships — soccer fans, nigbt- 
dubbers, skateboarders or comic- 
book cultists. Yel such target 
groups supply more than a raison 
d'etre; often, they also provide a 
distribution framework. 

Nubian Tales, for example, cov- 
ers black culture and film. The spin- 
off of a black cinema club in central 
London, it sells at the box office as 
wdl as by subscription. Its base is 
the club’s 6 , 000 -strong mailing list 
Thanks to desk-top publishing 
every slice of the U. K. youth mar- 
ket ■***«; to be served by “indie'’ 
print. Slick magazines now cater to 
graffiti practitioners (Grapbotism, 
the self -proclaimed “magazine of 
aerosol art"), aspirant beatniks 
(Straight No Chaser, “magazine of 
world jazz jive"), even the baggy- 
pants brigade (target readership of 
Phat. “hot stuff for hoodlums"). 
They give tire lie to conventional 
publishing wisdom, which claims 
that MTV-soaked tweniysome th- 
ings will not read. 


per," she said “is riot synthetic." 

Of the younger generation.. 

Hershkovits said, “We understand 

their music, their style, their pop 1,1 ■“ > vT 

pohtibs.tiiOTv^teaesthetica^^ ^ merger of art, music. , _„.. 7 . rrrTr . t *v • ' ‘ * '“r A . 4 %f 

therrrqection of tins mainstream ^STiS^Skaniiig politics ; i " '>■ ‘ *’• v. ^ ■- * ■ 

3S»hs SSSSsTsi 

of a restless, msomniac mind ^Ld^ails magazine. Henhko- — ‘ 1 

A Shoot-Out at the Clothing Corral 


indefatigable eagerness of new ar-. 
rivals. . Id 


JSOTS- . . « 

Paper’s merger of art, nniac. -JJJ 
fetoion and left-leaning politics ^ 

wHebqtrialTheSoHbNews.HM- W 

* - •* * -1 ailit/tr fofl/YU- 


t::!' fly 


HI 


UCLU 1 U& imiin iiiiitiiMii * 

alive industries like fashion. 

-rap* ha, beo, m YcS 

tfarg* « By Lmdscy Gruson 

I N the fashion world, editors it. pofitictzmg -and crosang oyer i DDAM NECK, Cma- 
at Cand£ PBist Pi*Bcations intathe sr^e worid, thea-aaection necticut — Ed Knko ?i 

acsowrtfi)r47of P^rer’ssrib- ming into music," Hastreiter said. - XA says he’s oem heaid of 
scriptkmsL “HM^re .tire best ^ArC mnsic and style were cn®>;. JL M» Giorgio Annaro. yr 
n30U «jS^eet:J!lWdWinara 1 ^- ^aorehtgrand-tire&ha^ acyerrhap- ^ Doima Karan. Calvin Klein? 
said Benny Iin, fashion director of p^ed befare.*- “Yes," Kirko 3 P lclure 

Macy’sEasL ‘TTrey fcatored AdidaS are began to tee anerging-art- of hhn in a magazine, 
dotires-in SeptenoSrer, and now cv- - ^ aeCmay Sdarf, Kath Har- •. So who i* Ed Khko? 

ayone is doing it They started.hip- ing and Ann Magnusoii as wntes. He’s a 61-yearTold^tinng de- 
hop arid rarer fariiicn. Thw’re not s t y fcas'bad evSYWveo for The signer of sorts, a rct ¥^. <aig “f^“ 
only m syi^wtiifariam, OTriafeo SoHoNewS. “ItwasthemlynK^- ing assistant whose fashton txam- 
with how muse has becomepart of ^ these people made," she said, ing consisted of hunting 
the fashion buaness, how MTV art- - starts doing conoept-stjte gjoandhogs as a boy m the bact- 

isis affect dress." r ■ ■ -tbrnnafism, and tt-wren't comma- woods of his native Pansybwna- 

Paper has consisiently been ,*1 but it was wild." ; His creations m b«ig canea 

ahead on style trends. Iliad a ^ btrodneed Haring to Vi - diotgan fa!*K>ri, ahhwgith^owe 
tattooed female modd «M.it^May vimnc West wood, and he made asmuch to JSnSS 
1987 covex. In June. 1986, its cover fabl5cs f OT ha. “I started rmlong andnfks 
was on infantile style, a .tt^d m Sae^miiriiagw between the art dothesare afaot ftdj of 


mp Anme rusucu, , . ' ' ^ 

found Details magazine. Heoihko-, _ ' 

A Shoot-Out at the Clothing Corral 

in the Barbizon Hmd affiLSd Vi- ries. like the S330 Western tie 

MAne'c lflct Hav m NcW York. .... . . . .. i-. f . , . _ . 1 , n. 


By Lindsey Gruson 

Sew York TlmaSenice 


^puuuii.AUU ' r 

I N the fashi on wodd, editors |t pothtdzmg -and crpsang ova 
at Cqndt Jfcst Pi*Bcatia» into the style world, flrea-aaectKm 

aocoimtft)r47ofl^wr*arib- Bojiigintoiiiua^"!^*!^!®*^. 

saiptioos. “Thqyie .tire beat -^Art, .music and style were ares- ; 
.T 'telMi ■ - nrxl - th»l'»had SCVef hflp- •• 




1515 ollvAoV uiw» - . jmmmnMH, ww 

Paper has consisientlv been c^bnt iiwas wad. , 

ahead on trend*. It ^ad a gb btrodneed Hinrig' to 
tattooed female modeL « its-May yjoine Westwood, and he made 
1987 cova. In June. 1986, rts cover fdaSa .f w ho. “I started malting 
was on infantile style, a .tr®o » these marriages between .toe art 
rave chibs today. In June .1987, ^raffion wotids," she. said, t - 
featured fadrion mBuenced by Ha- - . ^ ,• _ __ 

sutic dress C«>d was criticized foe - *■-»■- THEN The SpHo 
ith long before Jean-Paal Ganltia. \ jk / News folded iri 1981, 

'W- Hershkovits^cnt 

issue featured nisa wwngj . T ▼ 

cam Campbell' and Isa^Haycs ade at least, as st^aj 
were on therovra-fer a Ttfe-sQte «miba goods. Its first bomdrf 
revival story. .. . ... 

Paoa’s seeming teject&Hiof cor- MapptetoMpe, Agnfe BvKn^T- 
oocate valires has, naturally, led the - and Willi Snath. Witoin-five 

SSate worid to seek Hsjadxrai that tabioid.. ransga^note 

-Omdienis. Hke ewaybne dse, am : ^design was appropriated 
wrestling with the GeMtarion^X inainstreain, as was 
SSS," said Ted 

rector strategic servicesJor Cas- wait on to widd ha X-Acto knife 
tkUndemwd, an advertising sub- at Allure and Madempesdle mag*- 

isTiivntiatina.-. jwrHMt davs. Paper’sartir 


50 WHO IS Kfl 

He’s a 61-year:old ctodring de- 
agmx of sorts, ® retired engineer- 
ing assistant whose fashion train- 
ing consisted of hunting 
gKMmdhoss as a boy in the back- 
woods of ms native Pennsybrama. 

• His creations are being called 



Siobc teu/no 


ries. like the S330 Western tie made 

from a bandanna with a 12 -gauge < 
^wtgan shell as tire dasp. He bopes 

it will turn his Knc from a hobby than ; 

supplements his retirement cbera 
into a buaness that will make mm 
enjoy retiring again. That's why be is 
addmg a children’s line decorated 
with junwwk hke alligators, not bul- 
let boles. Bui be expects his most 
popular item to remain the Honey- 
moon Special, which he describes as 
"one shot through both sections of a 
brassiere, a pair of panties and a pair 
of men’s un dopants." w 

"It makes a great shower gift, 
says Mauer. 

Kirko says his fashion line stems 
from his dddbood in Snowshoe, a 
aal mining town in central Pennsyl- 
vania. “As a kid I was always in the 
woods hunting" he recalls. “I’d put 
a rifle on my bicycle and come bade 
with a couple of groundhogs on a 
stick. I thought they were dehaous. 
One summer 1 ate 120. Then they 
told me about beef. 1 haven’t tad 
one since, bultbcy are delicious. 

"h’s art, modem Expression- 
ism" Kirko says. "An is anything a 
creator wants it to be. 1 remember 


dothes are toot full of boles, cots- 
plete with powder bums. Kirko 
and his .assistant, Peaches Maner. 
then crown than with spent tools 
attached with glue and safety pms. 

“Australia with its outback and 
distinctive styles is the model, 

Kirko rays, pulling out a Crocodde S«itm*wants 'H to be. I rememfier 

boles very dose to where the vital wasattranmdojjs amount of «- g^^ lsawaguy who called 

^Sn^S^back to oraans are located,” Kiiko rays. pcnxnramig “ ™ himself a bass violin Expressionist 

this ns even fnrtha badtto from the marireemg two years — ■ to BP ■ _ h e bought a cheap violm. 

th ® < ^V^ cst ' My dDUung ^ ompteS by his better-known You 1 ve got jumped on it md kicked it. Then an 

feeling. . , fashion colleagues. Kirko indu*s hit toe assistan t nailed it to a board. Ir’s 

So far, at krast, the established - <<>fnQ m ^ three-year-dd line that buckle. .Betause then > ^ ^ somebody with 

fadriOTiunmmKmemno^J span the socioecmmric ctasm. At ™ ^ orofns come SI. 000 who feels toe same way, he’s 

of being ccKmed by his Alligator ^elow end is the bas« aeamcol- .But K^Vos red goiSl.000." 

Ed line. Bmforko has caught toe . Alligator Ed baseball cap, from an expanding lmc of axesso- — 

wave that transformed cowboy „ a bom S20. It has p — ^ 


N OT oniy do they read, a| 
but more and more 8 . 
young Britons are lack- re 
ling publishing Quar- si 
terty or monthly, stapled or perfect- a 
bound, the periodicals they produce is 
are a far ay from “fanzines.'’ Those 
70s artifacts were similar, smudgy f 
and photocopied. The modem indie 
ma tMTine works to set itself apart 
Take the case of Purr, the recently 
launched "magazine of music, art, 1 
film and comics." Issue 1 offers fie- t 
tion, graphics, interviews, a separate 1 
mini-comic book and "Savage ^ 
Soundtracks for Swinging Lovers" 1 
— a four-artist EP recorded for the 
magazine. Issue 2 wfll include an : 
“Elvis Presky Board Game." 

Backed by a stockbroker, with 
color plates printed in Singapore, 
Pott sold 10,000 copies. But maga- 
zines half hs size can be inventive, 
too. A bimonthly called The Idler 
("literature for loafers”; first print 
nm: 1 , 000 ) exists to encourage “sil- 
ting, thinking, writing and observ- 
ing" Every issue is given a separate 

launch party." each grared to mak- 
ing mainstream moha folk fed 
young and trendy. This gambit has 
- resulted in saturation publicity — 
and upped circulation to 3,000. 
These who opt for standard dis- . 

’ tribunal face a straggle, however. 
Make-or-break book chains like 
John Menzies and W. H. Smith have 
a history of aloofness toward inde- 
pendents. Even if they do deem a 
magazine acceptable, “artistic dif- 
: ferences" frequently arise. Phat 
m a gazine proved a volatile case m 
1 point: Hie news trade took offense 
. at a cova picture including a gun. 

I No mauer that it flagged a heartfelt 


antigun feature, both coma news- 
agents and main stream chains even- 
tually shunned iu Phat will reap- 
pear in the spring, but the 
philosophical and aesthetic stand- 
offs continue. 

Some are resolved by people like 
Tun Heinemann. circulation manag- 
er for Time Out Distribution- This 
alternative agency started five years 
ago. as an arm of Tune Oui maga- 
zine, a London listings weekly. 
Heinemann is a can-do bloke with 
the requisite laid-back tempera- 
ment. Small titles, he says, are noth- 
ing but a headache. Yet his compa- 
ny handles 30 or 40 a year. 
Hrinemann sees himself as the 
trade's Warren Christopher. “1 me- 
diate between a very staid, conserva- 
tive business and a cottage industry 
1 where nothing is predictable." 

• Other self-started magazines 
choose A.K. Distribution. Three- 
year-dd .A. K. (which also publishes 
Noam Chomsky) maintains a triad 
of offices: one in London, one in 

1 Scotland, one in 'San Francisco. In 

■ Britain, its specialty is stocking spe- 
f dak st outlets: comic shops, gaher- 
’ ies. clothes boutiques — even cor.- 
’ certs. A. K. handles 100 indie 

■ magazin es, tides that range from 
f Girl Frenzy (a "Feminist glossy”) to 
'■ gad Attitude (a tabloid parody). 

1 With luck and high standards, an 
s indie can make toe big leagues. 

* When Saturday Comes, an irrever- 
ent soccer mag. started .wen .years 

1 ago with 100 copies. New on Issue 
e 82. its circulation is 61U0Q. C°?po- 
- rate monev is not insensible to such 
■- success: Attitude, a “gay viewpoint 
1 . magazine to be launched in March, 
e is backed bv Northern & Shell PLC. 


T HE real problem such 
magazines face is that 
what they develop can so 
easily be co-opted by the 
mainstream. Savs Gavin Hills, the 
editor or Phat. “The moment you 
achieve anything, you see it every- 
where. The whole youth market- 
place is desperate for ideas.” 

Yet Heinemann foresees more 
self-started mags. "As distributors, 
there's nothing in it for us at alL But 
we pursue them to encourage young 
talent. They really are the indepen- 
dent publishers of the future." 

Cynthia Rose is a London-based 
journalist and the author of “Design 
After Dork" 


ESCADA* 

In Paris 
left bank 


Marie-Martine 

8, rue de Sevres, 

Paris 6 th 


who , . ... ... waftU li aa i w T_~ 

boots into the prefared footwear ^ ^ froo3 a 223 ^aHba rifle 
c£ people, who haw never sceoa bum from a 22 and 

cow and that raised coonttymuac whh brass casings and a 

from what he cafisa^P^ crimson 12 -gauge shotgun todl 
anthem into an Achy toatoydmee there’s a wanen’s ver- 

craze with its own cable channel. Of codtkik«, 


items m ois umx-jMi-viu — - . , „ aru wnea oc iiiiua auu«*«j | 

as caught toe . Aihealor Ed baseball cap, from an expanding lmc of axesso- 8 ° — 

ned cowboy about $20. It tas p ' 


in hire Papa’s afitprs as conral- des werc collected from wnters oy 
tants. “Everyone tadta about toe Hoshkcwts on . a 

... P u. r v tr cmfL.“W cfl. fwwcM Viv friends who worked at 


v°iirirs«artiest days, Paper’s arti- 
des were collected from wntas 1 by 

“ vi— «■ 1 Hirrtfr.lr then 


rants, everyone uuk> «. .. -- craze 

cutting edge,” Pacrack said. “WHL typerat.lvj 0 *^ 

the cutting edge is in New York, other media ~m~ 

mrf ^^tradmg it inspnc^ those .same gnoaflte^taai^me gy 

“rSughont; Hastrater and Yak in ^ 

HerehkoS have remaned true to advertiser, *wsed bmfw toe 

^Sdirection:amix.^-can^^m^^»d a “ SSr- 


p4e PnccL one pagefioqWr 


u^tfwhs savs he mteatamak . ty at Waster 
jlej^ovHssay* . ^ tat and 


its own cable cnannei. . ; 

nsown caurc sion, um. “We dressed it up qmte 

reKO savs that he is wdl with good taste," Kiriro says.: 
■ f . IKK.U says inai l—jo* with a bullet hole and 

AS 

JL^ -States - ?4 &c 3/ which is billed as toe 

aaya^Me 

offer to escportlus ttademarkMtine — tn make a macho 

. _ w — • ^-- L ' huff nMPf met 2 


HANAE 


ly finds owe 

saasassatBF ssss* 

at^aS23-Ssa£Ss- SSSES^ 

SSSKk S3SS3S 

^ssasss.s.SIS?-"' 


> 5 writers,, tooogf. 
loping as Joorow-. 


n 8 L n w wid . ' 

wto hat and Trshut gtft sfim 
Fresh Jive (tux advertise^ Papers 


a punks trying to make a macho 
to Japn-v* 1 * taster met a i T says to wear a 

frontia: fad it doesn t Hcc- pair of those mammoth rounds Hke 

. In addition, he receives sevml ^ngs-on-steroids is not so clear. 

ai- eg agaags jaassssiB 

Sties" Ttotlnto* — ^ (dt ^on with a single 223 bulla 




rf 

• ■ 1 - tv*' 




'A 

'if* 


^bften, one 

paced ate a tdegram ^w 10111 uie 


tion&! a marketing service. . 

- paper's publishers^ say their 

to^iake itaweddysoosL 


FROM JANUARY 


17-1§, AVENUE MONTAIGNE. PARIS 6 fUt 

ALL^E SERGE DE DtAGHILEV. 
PLACE DU CASINO. MONTE-CARLO 


o 

o 

o 


AUTUMN / WINTER 
COLLECTION 


READY-TO-WEAR 
SELECTION OF HANDBAGS 
SHOES AND ACCESSORIES 


PARIS 

2 FG. SAINT HONORE 
350 RUE SAINT HONORE 



customet Afl yoa neeas s u&. »c 

American Suva 6S3-M08 __ 

. o Antigua rfO 

Aiemima OM-COOTTHlll 


Austafia 

+ABtria 

HiLiw nm 

ABhWos 


BdnelBotdl 


0CH4-&81-877 

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' • x \ 





Vobis Slowed at Borders 


THETRI* INDEX : 1 1 0.886 

ISln ?^ 003 *. HaR aW -'Tribune World Stocklndax©, comoosod oi 


120 — • 


C7. 

InEurope 


Rate-Cut Hopes 
Boost Markets 



World Jndo; 


*<%$&&&%*&; i', 


iP^SfPI 



Complied by Our Stuff From Dupettha 

PARIS — Major European stock 
exchanges, kd by Paris arid Frank- 
furt. set record highs Monday in 
the year’s first trading session amid 
hopes for lower European interest 
rates. 

Paris singed to a record after 
banks cut interest rates, while 
Frankfort advanced on hopes of 


US. fenestras bought a record 
amount of foreign wife last 
year. Page IQ. 


lower inflation. Swiss and Dutch 
stocks also set records, while Lon- 
don was dosed for a bank holiday. 
- .The European component of the 
international Herald Tribune 
World Stock Index advanced 037 
percent, to 1 15.1 1. 

The Paris Bourse was enaooraged 
by lower interest rates, wbkh ate 
nnhosaDy seen as needed to boosta 
lagging economy and counter high 
unemployment, ftanfey cut their 
prime rates, to bdow 8 percent for 
the first time in 20 years. (Page 10) 

The CAC-40 index dosed at 


By Jacques Neher 

International Herald Tribune 

AACHEN, Germany — Thco Lievin has learned 
the hard way about the Emits of a borderless Euro- 
pean market when it comes to selling computers. 

Mr. Lieven bufli Vobis Microcomputer AG inio 
Germany's largest computer-store chain by pro- 
moting low prices on a house brand. But he has 
had to put his European expansion strategy back 
an the drawing board after running into unrecep- 
thre consumers in France. Spain and Italy. 

This fall, the 4] -year-old executive began offer- 
ing his high-performance, low-cosi Highscreeo 
computers m Britain, but without Vobis. Instead 
of opening its own stores, the company is leaving 
the selling job to Dixons Group, which operates 
more than 400 outlets. 

“"We could never set! 12,000 computers m the 
UJC this year without Dixons," Mr. Lieven said 
“We may make less money, but we’re doing it more 
easQy. We're trying to grow in the easiest ways." 

Mr. Lieven, who opened the first Vobis branch 
12 years ago and now operates 200, is exploring a 
host of new approaches for expanding sales and 
restoring profits. 

For 1993, sales growth is expected to slow to 15 
to IH) percent, to 1.86 bilhan Deutsche marks 
(SI. 07 billion), following a 53 percent gain in 1 992. 
Pretax profit was expected to drop SO percent, to 
around 30 million DM. 

Feeling the effects of Europe's recession and 
fierce competition, particularly by its German ri- 
val Escom Computer AG, Vobis now expects to 
sell 455,000 Highscreo computers, significantly 
under earlier projections of 480,000 units. 

In Germany, which accounts for the lira's share 
of company sales, Vobis Highsaeen had more than 


that Vobis is now the copier. “We opened a megas- 
tore of 2^00 square meters (2,640 square yards) in 
April and we are mere involved with business 
Customers," he said. “Vobis is only doing that 
now." 

Mr. Lieven’s current plan shows link aUegience 

to his ori ginal formula, which naWnA for email, 
neighborhood stores that stocked only Highscreen 


U.S. Factories 
Show Expansion 
In December 


Corrpiitd b. Our Staff Front Dispatches Secretary Roger C. Altman Said t : 


computers, priced *0 percent to 50 percent under 
name brands. He is testing significantly’ larger 
stores that offer a much larger product mix, includ- 
ing persona! computers made by competitors, even 


NEW YORK — Toe U.S. manu- did dot expect the U.S. economy . .■ 
fac curing sector expanded in De- overheat in the coming months. Ir. 
cember amid a surge in production a televised interview, Mr. Aim. jS 


and healthy increases in new or- said the economy should contir. - .■ 
ders, according to a report released cm course in view of the tamer j-. 


Monday. 


of inflation coupled with a cont::> 


The National Association of ued lack of robust credit demar.u. 


'This is an hourly business. 

A 10-year strategy doesn’t do 
you any good because no 
one knows what will be in 
even two years.' 

9 

Theo Lie via, founder of Vobis. 


Purchasing Management said its Labor Secretary Robert B. Re:. a 


monthly index registered 57.9 per- predicted Monday that about I 
cent last month, up from 55.7 per- million jobs would be added lo C'.a 


cent in November and the highest U5. economy in 1994 and that 
rate since Januarv 1993. 1 1 was the unemp!oyma» rate could fall 


third consecutive* month of growth low as 6 percent. It is currently j .- 
m lie manufacturing sector. percent. (AP, AFP, Reut-.rsi 


I f*. •• m C- 


on the day.That was the 
fifth record high since Dec. 23. 


13 percent’ of the PC maxkb in the thud quarter, 
according to DatamiesL the market-research con- 


la Germany, where the presidait 
[ the central bank over the wedc- 


A s 

1893 

WMdlnte 


The Mat nodes U.S doMer w lues of stocks m Tokyo, Hew Tout, London, and j 
Afgontfna, AuntreSa, Auetrie, Mgfam, Btnzfl, Canada, CUM, Domnarfc, Pntmtt, 
Franca. Gnrmeny, Hong Kong, Raiy, Mexico, Nathatlanda, Nav ZManct Norway, 
gng ap om, Spain. flwb da n . Swftrartardartd VonannUa. For Tokyo. Now York and 
London, (he ndfcx is composed of ffw 2D top Issues to toms at nwikot capemStnUon. 
offusnvtsattiB ten top stock# an tracked. • • 


Industrial Sectors 


Energy 109.71 103.10 h 056 
Ufflfflea" 117JB2 117.74 -0,10 1 
Rnmca »a5Q m» -&05 
Sewfcaa 118.89. 11BS7 ^0fJ7 


Captor Goods 
R— lhtete 

Coasaner Goods 


1103* n 1 . 08 -Q .13 

11331 112A3 ->0.78 
9&5T- 8832 *035 
13523 .13464 +044 


For more Information about PiB MutaboaffefcavgfeteQmaf dago. 

Write toTrib index, 181 AvenoBCtefadB<& d e,S?5 Z l Netty Cede*, flanca 


OHininilHnkttibn 


of the central bank over the week- 
end forecast a fall in inflation for 
tins year, stocks also surged to a 
record. Faffing Goman inflation 
naaam that. German interest rate 
cuts are Ekdy. 

TheDAX spot trend index end- 
ed at an afl-nme dosing high of 
2^67.98 points, up 1 JO points, or 
0 lQ 5 percent. 

- The Swiss Marka Index, which 
tracks the top 22 blue-chip stocks, 
ended the day up 38.6 points at 
29962. 

In Amsterdam, local institutions 
sent Dulch shares up, resulting in 
ursfl-tuuehigh on toe AEX index, 
as they snapped up underper- 
formers and bargains across the 
board. The AEX index added 610 
points, to dose at 420J7. 

(AFP, Bloomberg) 


according to Dataquest, the market-research con- 
cern. That was off about a half poim from a year 
earlier, but still far ahead of the Compaq. Escom. 
IBM mid Semens /Nixdorf brands, which each had 
slices of 8 percent to 9 percent. 

Escom, which has 115 stores in Germany and 
120 outlets in seven other European countries, is 
accused by Vobis of copying its formula, but 
Wflfried Hose, a company spokesman, countered 


the naocompauble Apple Macintosh line. He is 
also branching out from the home PC market, 
selling through 70 dealers serving the business 
market 

“This is an hourly business, with the constant 
changes in price and performance," be said. “A 10- 
year strategy doesn't do you any good because no 
one knows what wffl be is even two years." 

Industry observers accord Mr. Lieven guru sta- 
tus. "He's one of the European PC market’s 
greats," said Steve Brazier, a Dataquest analyst 
who has dosdy followed the company. “He’s had 
brilliant ideas and proved be could do it better 
than the Japanese and Americans. If it wasn't for 
him, the PC market in Europe wonld be in a sorry 
suit” 

Cashing in on the company’s success, Mr. Lie- 
ven and co-founder Rainer Fraling early' this year 
sold a controlling stake in Vobis to' the huge 
German retailing group. KauTnof Holding AG. 
which itself is controlled by Metro Vermogensver- 


in lie manufacturing sector. percent. (AP, AFP, Reut-.rst 

A reading above 50 percent gen- 

erallv indicates the manufacturing 

sector is expanding, while a reading r n 11 cl 

above 445 percent over time genet- J 00031 rOU JIlOVCS 
ally means the overall economy is * 

growing. A. year ago. the index BUSUIBSS Bearish 


See VOBIS, Page II 


stood at 55.4 percent 
Of 20 industries tracked by the 
group. 13 reported improvements 
over November. The best gains were 
reported by the transportation in- 
dustry — particularly auto, truck 
and bus makers — as weS as plas- 
tics, rubber, fabricated metals, wood 
products, furniture and computers. 

Each month the association polls 
300 purchasing managers who buy 
the raw materials that fuel Uik 
factories. Their purchasing habits 
are considered a reliable indicator 
of economic activity. 

The Commerce Department re- 
ported Monday that construction 
spending in the rose 1.8 percent in 
November, the seventh straight 
month of rising spending. It had 
risen by 25 percent in October. 
Separately. Deputy Treasury 


The Associated press 

TOKYO — A poll of Japane r 
business executives showed tnc.t 
expect little or no growth in tr. * 
nation's slumping economy in ti.; 
financial year beginning in April, 
according to a survey carried ol'. 
by Kyodo News Service and pub- 
lished Monday. 

Kyodo said that in its survey o: 
top executives of 100 major corpo- 
rations. 9 percent predicted th.- 
economy would shrink, 13 perccn 
forecast no growth at all, and 55 
predi cied growth of up to 1 petcer.'. 
for the year. 

it said 61 of the executive- 
looked for the economy to recover 
in the second half of this year, while 
22 said recovery would come in th: 
first half of 1995. 


Macy Says Federated Move Doesn’t Alter Its Plans 


Compiled by Our Staff From Dispatches MaCV. winch is in Chapter 11 bank- 


NEW YORK — RJL Macv & niptey-law proceedings, said. “Since 
Co. said Monday that Federated August, we have been discussing 


Department Stores Inc’s purchase with aD of our creditor groups the 
of half of a major secured claim development of a consensual plan of 

“““ . . “ ... v u, -rv.. 


in the best interest of the company, chide Bloomingdale’s. was interest- Mr. Quesirrao. she said, "is think - 
its employees, creditors and other ed in ultimately owning aD of Macy. ing that this investment is going It 

constituencies." Mr. Ulbnan said. Bui even though the transaction provide a superior financial re- 

“We view Federated as a creditor appears far from going through, turn.” 

bolding a portion of Prudential’s analysts saw in Federated’s move Traders drove prices of Macy’- 


from a Macy creditor “has not al- reorganization." He added, “Our 
tered" Macy's plans to develop its priorities have not changed." 
own reorganization plan. Federated announced Sunday 

Myron Ullman, chairman of tiiat it had bought half of the se- 


INTERNATIONAL STOCKS 


Argentine Regulators Bid for Respect 


B 


By Nathaniel C. Nash . : 

New York Times Sendee 

. UENOS AIRES — When securities 
I regofators anaorinced mceafly tiiat 


To he sure, emerging markets throughout 
the world are plagued by manipulation and 
fraud. Among the caveats with emerging 
markets are that financial statements are not 


always acmrate. the pice of a stock is often 


they op aicd an invatigat^. pumped mt, and insider trading is not just 
mtoAcmaarifltmstocsSA,aiftZ]ge - common opt in many places l^aL 


stedmaker and one of the most heavily trad- 
ed issues oa the Buenos Aires Slock Ex- 
change, it was as if there had beea a small 
cxploaon on the exchange floor. T • -;\ . 

The regulators charged that Adndar had 
s brnn^ injmfllkmfflprcfitoverthepreyi- 
ous two ytais and diverted it Ip a.campany 
owned by sweral members "of the Acevedo 
family, wfridi has the cootolfioyiniwert ini 
_ Adndar. At tire time.- the company hid jwt 
reported a lag quarterly loss. 

Officials at Adudar have demed- any 
wmegderaft saying flidr dealings with La- 
. minfe r, the private oom pan y owned by the 
Acevedo family, were p roper. Nevertludess, 
Acindar’s stodc, which had plummeted in 
previous days vritii weed of the losses, fdl 9 
percent more, hitting its lowest lewd op re- 
corf. 

But at least in some firiabaal . circles; to- 
sped for the counties Natkmal Securities 
Cwrunission and its brash young regulators 
increased; investors began asking whether 
' ^ agency, headed by Martin Redrada; its 
president, had finally gotten some -teeth. 

“This is^ ^ daaIyi''wb*t'. : tBe.^ commissKHi 


V Ear the last few years, thou^i, Argentina 
has struggled to earn crediMrfy for its ex- 
change, well aware that it brings in foreign 
capital and that fraud drives big investors 


The securities agency In 
tiie last two years bas 
flexed its muscles and 
tried to get tough in some 
hi^i-visibility cases. ! 


pieridmt, had finally gotten some -teeth, 
“This is^ ^ exactly "what', tbe.^ ^commissKHi 
should be doing, becanse pnrfit-dainmmg ,« 
a common jpracrice among mariy com pan ies 
listed arrthe Btdsa," Christopher feclepraie, 
an aoalyst bere, said, of -tte stock, martat. 
“It’s cme of. the dirtt fittie.secrets of the 

cmital markets; suck aB the mra^ ont of the 

company that cap. Therms a saying nfirs. 
‘Rfch man, pora company.'’”'. 


away. Yet companies, especially those, run 
like famUyinvcstment funds, have been par- 
ticularly slow in teaming that lesson. 

‘Tve sees a kR of emerging markets," said 
a New York securities trader who asked not 
to be identified, “and there are worse than 
Argentina, but there are better as wdl" Mex- 
ico and Chile are generally considered ex- 
changes where there is less of a problem. 

Stffi. the Argentine securities agency inlhe 
last two years has flexed its regulaiory nins- 
des and tried to get tough in some Ingh- 
vialntity cases. It has initiated more than SO 
investigations, and in 1993 it fined 54 direc- 
tors of trahfidy fisted companies and lifted 
the trading Gcenses of 12 sec urities firms. 

H ated Citibank for not reporting scant 
stock tradeswuttin 30 mxautes,it prised one 


of Argentina’s largest industrial concerns to 
revalue some assets the company had insisted 
were worth mudt less, and it stopped Loma 
Negra, an group owned by a prominent so- 
cialite, from overstating the value of some of 
its assets before selling corporate bonds. 

Along the way, it has had help from the 
UJS. Securities and Exchange Commission. 
For example, in September. Paul Fischer, for 
years a senior attorney in the SECs enforce- 
ment division, spent two weeks in Buencs 
Aires, helping the enforcement division work 
on its investigative techniques. 

And late in August, a team of Argentine 
and SEC regulators entered the offices of 
Citicorp and Chase Manhattan Crap, unan- 
nounced to review their trading practices — 
“to make sure they were accurately reporting 
trades.” an official said. Commission aides 
say nothing fflegal was found, but the mes- 
sage was unmistakable. 

“We don’t have that much to work with — 
we have limited resources, so we have to take 
on these big cases and make the most of 
them,” said a commission official who spoke 
on condition of anonymity. 

The maximum fine that the commisson 
can levy is 58,000 for each securities viola- 
tion. And though it can prosecute for insider 
trading, getting a conviction in Argentine 
courts, which are known for corruption and 
susceptibility to political manipulation, is 
nearly impossible. 

In the commission has only limit- 

ed subpoena power, making it possible for a 
suspect to refuse to cooperate with investiga- 
tions. 

A bfll is pending in the Argentine Cbagress 
that would permit fines as high as S5 rrmlion 
and give the comnusskm much broader pow- 
ers. Approval, however, may take months. 


cured claim held by Prudential In- 
surance Co. of America for S449J 
minion. Mr. Ullman noted Mon- 
day, after talks with Federated 
Chairman Allen Questrom, that the 
amount equaled less than 10 per- 
cent of aD creditors’ claims against 
Macy related to its 1992 bankrupt- 
cy-law filing. 

“We will continue to work with 
aD of our creditors — who together 
have daims exceeding S6 billion — 
to arrive at a consensual plan that is 


constituencies," Mr. Ulbnan said. 

“We view Federated as a creditor 
holding a portion of Prudential’s 
claim,” be said. “It would be inap- 
propriate at this juncture for 
Macy's to discuss with any particu- 
lar creditor the specific "role they 
would play in our reorganization." 
Mr. Ullman said the negotiating 
process with creditors was in “an 
early stage." 

Federated described the talks 
with Macy as "cordial" and said 
Man,- was “receptive" to further 
talks. 

A Federated spokeswoman said 
she could not say whether further 
meetings had been scheduled. 

Mr. Questrom has said that Fed- 
erated, whose department stores in- 


some positive signs for Macy and bonds higher Monday on specula 
an indication of what role might lion about a possible Federated - 


await department-store chains in 
the U.S. economy. 


Macy combination, but trading, 
turned quiet in the afternoon. 


“1 think it again proves that de- Macy’s 14.5 percent bonds due 


panment stores are not dead," 1998 traded Monday afternoon a* 


Walter Loeb. a retailing analyst about $500 for each $1,000 bond. 


and consultant, said. 


off from $5 10 earlier in the day bet 


The stores, fra example, despite up from $42250 on Friday and i 
sluggish sales of apparel have re- low of 5170 in 1992. 


ported strong sales of furniture, a big part of Macy’s problems 


decorative items and appliances can be traced to the 1988 takeover 


during the Christmas holidays. battle for control of Federated, set 


Janet Mangano. a retail industry off when Robert Campeau, the Ca- 
analyst with Burnham Securities nadian real estate developer, made 


Inc., said the Federated move a bid for Federated. (AP, Reuters, 


“gives Macy a vote of confidence." NIT. Bloomberg, Knigfn-Ridderi 


CURRENCY & INTEREST RATES 


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Sources; /teuton, p/Munoera. Merritt 
Lrnch. Book of Tokyo. Commortoank, 
G nmw e H Mookau, Credit Lyonnais. 


«W 

6JC ‘ 436 
6J5. 630 
ASO 600 
545 - 5* 
LB 553 


QoM 

AJH. PM. cm 

Zsricn ' anas anas +M 5 

Landau Oossd 

Mow York anaa 3J4J0 +t* 

UJL donors tor oonce. London Official fix- 
hast zuridtmd Ham York ooenSm end dm- 
ine prices; Now York Cornea fFeD.) 

Source; Heaters. ' 



Repubuc National Bank of New York 


has acquired 


Mash Westpac Limited 


REPUBLIC MASE BANK LIMITED 

(a wholly owned subsidiary) 


consolidated capita] funds of 


£100,000,000 


International Bullion Bankers 
to the professional market 
Member of the London Gold Fixings 


Republic Mase Bank Limited 
London 


Telephone: 1071 1 621 TWO 
Tefcsc mvn 


Trlelaft. 1071 1 2X3 4o?i 
Hnricr^Prallnp MAH. 


Republic Mase Hong Kong, Limited 
Hong Kong 

Telephone :S2J W5 JOBS Trie»»-. IW2| MS 3227 
Triws oSPti Roites Deptny MAH. 


Republic Mase Australia Limited 
Sydney 

Tefcpt»nr.CC»»5n. Tricin' 13S5 !«» 

Ttfc.AA173»bS K«jih\ MASA 


Republic Mase Fircions Metals Division 
Repnblic National Bank of New York 
New York 

Telephone-. CIZIZH 15eO Trirlai- OlZlSStfUl 
Tdrv 2MUN 1 . tt*P7X 177641 Bcmas' RNBA. MASN 


RrpoWk Mw Bank LdoUed n << memher ol SFA 
















Page 10 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY 4, 1994 


MARKET DIARY 


Blue Chips Cain 
In Weak Market 


Via AaMdMd Frau 


Compiled by Our Staff Fran Dispatches 

NEW YORK — Blue-chip 
slocks ended with a small gain 
Monday, but most other issues 
drifted lower on wicnesl>ratc con- 
cerns fuded by signs of UJS. eco- 
nomic growth.’ 

The Dow Jones industrial aver- 
age rose iil points, to 3,756.60. 

W,Y. Sloe fc» 

after trimming an initial loss of 10 

points. But dediners fed advancing 
shares by a 4 to 3 ratio on the New 
York Slock Exchange. 

Interest rates in the bond market 
climbed to the highest level since 
August after purchasing managers 
reported an expansion in manufac- 
turing for a third month in a row in 
December and the Commerce De- 
partment said construction spend- 
ing rose in November for the sev- 
enth consecutive monthly advance. 

The benchmark 30-year bond 
fell 28/31 to 97 26/32. and its yield 
was quoted at 6.41 percent, up 
from 6.35 percent- This was the 
highest closing yield since August. 

If interest rates are headed high- 
er. earnings must keep pace or 
stocks will fall, money managers 
said. Companies in the S&P 500 on 
average are expected to post earn- 
ings increases of 15 percent to 18 
percent for the fourth quarter, 
compared with a year ago. 

“Slock prices have gpne about as 
far as they' can with low interest 


rates," said David Katz, duef in vest- 
ment officer of the SI 60-million Ma- 
trix Asset Advisors Inc. “At some 
point, you're going to need better 
earnings to drive stock prices." 

Sunshine Mining was the most 
active New York Stock Exchange 
issue, rising Vi to 3*s as the price of 
gold rose 52.80 an ounce, to 
S394.70 for February delivery. The 
most-active American Stock Ex- 
change issues were Echo Bay, up 
i '/< to !4 Vb and Roval Oak. up ^ at 
5U 

Among the active NYSE stocks 
were Ford Motor and General Mo- 
tors. After executives gave strong 
sales outlooks for 1994 at an auto- 
motive industry conference in De- 
troit, GM was up % to 55 U, while 
Ford tumbled t 'A to 63W. 

A rebel uprising in Mexico's 
poorest and southernmost province 
depressed a number of shares. 
American depositary receipts of 
Telefonos de Mexico, which repre- 
sent 20 series L shares, fell 2 to 
65lt. Cosed -end mutual funds spe- 
cializing in Mexico also were lower. 

Federated rallied 2 to 22ft after 
the retailer said ii bad bought 50 
percent of Prudential Insurance 
Co. of .America's secured bank- 
ruptcy claim in R.H. Macy & Co. 
for S449.3 million. 

MCI Communications led the 
over-the-counter actives, un- 
changed at 29ft. 

f Bloomberg, AP. UPI) 


U.S. Economic Data 
Push Dollar Higher 


Compiled by Our Staff Few Dispatches 

NEW YORK — The dollar was 
sharply higher Monday after data 
on the U.S. economy confirmed an 
accelerating recovery, dealers and 
analysts said. 

The U.S. currency jumped to 
1.7435 Deutsche marks from 

Foreign Exchange 

1.73S2 DM. and to 112.700 yen 
from 1 1 1.825 yen on Friday. 

David Wilson, a dealer at Credit 
Lyonnais, said there was strong cor- 
porate and institutional interest tn 
dollars at the moment because the 
U.S. economy appears to be acceler- 
ating and interest rates appear to 
favor the dollar. The Federal Re- 
serve Board is expected to raise US. 
rates in the fust quarter of this year, 
while European countries and Japan 
are expected to let them fall. French 
banks, for instance, lowered base 
rates to below 3 percent on Monday. 

Mr. Wilson said he expected the 
Bundesbank to further the trend on 


Thursday, by cutting its Lombard 
and the discount rates by half a 
percentage point each. 

The dollar was also higher 
against the Sr.iss franc, trading al 
1.4940 francs, up from 1.4880 
francs, and at 5.9333 French 
francs, up from 5.9190 francs. 

The British pound sank to 
SI. 475 5 from SI. 4770. 

“Peopfe are bullish on the dollar 
relative to the currencies of other 
industrialized countries,” said Belal 
Khan, a trader at Bank of Tokyo. 
'The US. looks poised for growth." 

The latest sign of an improving 
economy came Monday, when the 
National Association of Purchasing 
Management said its index of manu- 
facturing activity rose to 57.9 in De- 
cember from 55.7 in November. 

“The Purchasing Managers num- 
ber was higher than expected,” said 
Yanagi Hara. assistant vice presi- 
dent at Industrial Bank of Japan. 
Thai buttressed the notion that U.S. 
economic growth will strengthen in 
the lust quarter, he said. 

(AFP. .AFX, Reuters) 


The Dow 


Daty ctosings-oMte : •» . 
Dow Jone&mdi&friaf average 



4 A S O ft D J 
1993 \ • ' • 1894 


NYSE Most Actives 


Dow Jones Averages 


Own Won Low Lost CM. 

Indus 3751.57 376699 J74543 J7S4JO -1ST 
Trans 17WX! I7ASJQ 1745X7 I7J1J9— tft73 
U» 2»W 279 JO 225.15 227JW —234 
Corao 1379.83 1331 Jfl 127101 1376.91 —4.12 


Standard & Poor’s Indexes 


Industrials 

Trcrow. 

Utilities 

Finance 


SP 500 

SPIN 


HWi low Close CM* 

— — 539.75— *43 

_ _ 4K1 — 7M 

— — 17670 — 622 

— — 43.40 — 128 

— — 46&X4 — 1J)1 

— — <29.27— 0.19 


NYSE Indexes 


Mall Low Las) an. 

Composite 359.12 257.71 25627 — ail 

industrials 31 5 45 3I4J5 314.97 _Q39 

Transo. 27a_« 9BJU 26644 —304 

Hnanoo 21683 214.99 215X9 —1.44 


NASDAQ Indexes 


Low Last an. 



YoL Web 

un* 

Last 

a*. 

SunMn 

47808 3V. 

2V, 

3 V. 

* 

RJHNab 


8H 

ffte 

-V. 

TcWlex 

43988 47*/* 

84H 

45V, 

— 2 

FateOS 


21H 

23 

-2V. 

Merck. 

35423 35V, 

34H 

35 Vk 

-IV 

WalMTTS 

28590 Tin 

254b 

25Vl 

- V, 

AT&T 

22512 S3*A 

52V, 

52 Vi 


Gnvurr 

20S39 SS*i 

54d 

55V* 

•4ii 

GTE 

■ ' ' w nn 

34V« 

34 Vl 

— W 

PMNlr 

■ /jj-M. rr*l 

SHt 

57VM 

»2 

Owvste 

K t e H. ,T‘ J 

53 

53 Vi 


Stance 

B rr. Bi-Wy 

9H 

101 

- Vt 

FordM 

1 riLm _ Bi 

82 Vi 

43 V, 

—1 

Hmstka 

B 

22*1 

23 *M 

. IV, 

PlacerO 

1(X57 271m 

25 Vi 

27 Vi 

-2M 


Composite 

Industrials 
Banks 
Insurance 
Ft.iance 
. Transo. 

I UtiDitei 


AMEX Most Actives 



Va6 

Men 

Lew 


owl 

EchaBay 

18338 

14'* 

13 

Mte 

*1% 

RovatOe 

15887 

Ste 

wr H 

r.i 

-vv 

STORn 

MOV 483V a 

44Wp 

44' Vo 

— te 

PeeGM 

S330 24V8 

22 

24 

* 1 

CrdnBrt 

4728 


v u 

'la 


EI4SCO 

3388 

3te 

3V U 

3V„ 

—»li 

Tapsrep 

3347 

4te 

4V, 

Ate 

— •« 

MSHKMN6 

3247 

■U 

7te 

716 

— te 

CrievSns 

3198 

77V* 

28te 

27 

— te 

NY Tim 

3923 24V. 

25M 

28 Vm 

—'V 

Amanl 

2921 

8 Vi 

8 

8te 

-te 

JarUJoW 

2882 

9te 

9 

9 

—46 

PWHKwl 

2341 

HVi 

10*6 

11 

-te 

GkCtarn 

2307 

I4te 

13te 

14te 

-te 

SatORCL n 

2)50 

3Dte 

29*6 

30 

— te 


NYSE Diary 


Advanced 

Oasa 

902 

Prev. 

1191 

Declined 

1318 

891 

Uncriarroed 

515 

814 

Total issues 

2733 


New Hiatts 

30 

113 


Amex Diary 



Oow 

Prev. 

427 

Declined 

321 

231 

UndOTped 

ISO 

222 

Totot issues 

839 


NewHirttS 

19 

24 

New Lam 

7 

13 


NASDAQ Diary 



Close 

Prev. 

Advanced 

1X30 

1114 

Declined 

1X44 

1X54 

Unchanged 

1X71 

1X78 

Total issues 

4745 

4748 


771.03 74a. 99 749.77 
E03J4 79473 799.15 
(WO? 4&L44 0740 
91BJ5 91336 91178 
B9I 32 0*233 883JJ 
74 149 734.59 737. IB 
10SX2 182X3 10186 


—703 

—649 
—2.03 
—4.81 
— 10.11 
—9 JOB 
—2.14 


AMEX Stock Index 


Moll LOW Lost On. 

47739 47570 *7734 + 009 


Dow Jones Bond Averages 


20 Bonds 
10 militias 
10 Industrials 


Close 

10479 

10131 

10633 


ant 
— aio 
— 002 
— 0.17 


Market Sales 


NYSE 4 pjn. volume 
NYSE prev.com. close 
Am* 4 pirn, volume 
Amei prev. atm. close 
nasdaq 4 tun. volume 
NASDAQ prev. 4 p.m voiutne 



N.Y.S.E. Odd-Lot Trading 



Bvf 

Sales 

Short* 

Dec. 31 

7S5*376 

1X80X83 

21X95 

Doc 38 

75MS69 

1X4108) 

14X47 

Dec 29 

7325®! 

1X88X85 

23X13 

Dec 28 

78X7)4 

1.195.156 

26151 

Dec 27 

474459 

1X34X88 

PXfl 


- included to toe sales Inures. 


SAP 100 Index Options 


Dec 31 


Fab 

Msr 

APT 

JOB 

Feb 

Mar 

Apr 


— 

mm 

Vt 

te 


ee* 

__ 

— 

— 


te 


— 







te 

no. 

Ite 

— 

_ 

— 

_ 

te 

te 

1 te 

— 


— 

— 




2te 


mm 

_ 


1 te 

2te 

— 



— 



*4 

Ite 

Fh 

Ite 

_ 

— 

— 

te 

Ti 

3te 

am 


1SV 

_ 

l'i 

.Fi 

Vi 

8 



_ 


•ro 


— 


0)7 

Ilia 

0 

6te 

Ite 

9te 

34 

5 s * 




( 

ea 

— 

M 

Th 

SV, 

IK 

HP* 


T3te 


7 te 


15te 

mm 

— 


te 

l'i 

7+ 

•we 

— 

2lte 

— 

te 

te 

— 

— 

— 

— 

— 


445 IV 
458 Ik 

455 

CaBs: to«wl4Ui:i te38 own bt.4BM38 
Pels: Mol rot 454U; mm! eats ini 384489 

Dec *4 Dec 95 Dec 9* MSB 
35 — — — te 

TTh — — — ", - 

48 I'm - 

O': — — — 19m — 

<5 — — — 3Vt 44 

CaM: met wtLO: Wat naen M int _ 
Puls: IsM wL I £9. tew axr. bt !Il471 
Sautes: COOS. 


U.S. Investors Intensify 
Stock-Buying Abroad 


CURRKNCY RATES 


Final Cross 

Rates for 1993 






S 

t 

DM 

FJ. 

Lira 

DJ=I 

BP. S.F. 

Yen C* 

Peseta 

Amsterdam 

114 

2J75 

I.H07 

0J2W 

01134* 

— 

5J8* UQ3 

1.7373* 1.4415 

1X41* 

Brasstis 

360275 

53J6 

1PJ7 

kill 

2.1354 * 

11555 

24J45 

01223 273X75 

2&20* 

Frank turt 

17351 


— 

oao 

41012 * 

WT06 

48U* 1.1904 

13373 * iX*l» 

121S* 

Laotian (a) 

1477 

— 

IS#5 

17346 

LD45JS 

287B 

5144,-5 2100 

14333 13556 

311X2 

Madrid 

U22U 

214447 

02776 

2C27 

0J46* 

71341 

X*Bt 9LBJ 

1272*1 * 10L472 

— 

Milan 

171X58 

UQZ 

WOO 

2*100 

— 

CU5 

47544 1.15639 

1SJ36 1X9015 

12033 

Nee York fb) 

— _ 

1.179 b 

irn: 

iH7 

171100 

L“48 

14X3 1.408 

11:525 1X210 

U3A 

Paris 

5393 

US 

1393 

— 

X34*4 * 

55795 

C.14B 3.73M 

12733* +4345 

61385* 

Tokyo 

HJJrt 

"15 91 

-XJ4S 

19.10 

0359 

57.51 

112*4 7L£ 

!M3 

071 

Toronto 

13P3 

l.teB 

I'lP 

02255 

QT777* 

03047 

LW* 08N5 

IHU* 

L+ll * 

Zurtcft 

U75 

llTte 

(431 

42509 

08629* 

a?6 tr. 

UWt* 

13191* I.IOO 

IMM* 

1 ECU 

1.12 

UNI 

19XW 

65945 

l."C829 

L'US 

rt2fl57 13567 

125157 IJ957 

ISU0 

1 SDR 

137T3 

0.-777 

ira 

6376T 

2X4*3* 

UM 

f) mt iii*» 

1 SIX’S IJC8I 

1*5X13 

Arcs teraom. Brussels. Lender. Milan. New Ycr* cnC Paris from Dec. 71 : others from Dec M 


Closings m Amstentont. London. New York one Zurich: fixings to other centers. Toronto 
rates of 7 (Mr.. 

a: To Stay one ecuna: b. To bo* one dol.'ir; Units of IX; N.Q.: not quoted; NA.: not 
available. 


Other Dollar Values 


Dec. 31 


Austral, s 

Aoitr.scftil. 
B rent tnc. 


Per S 

Currency 

Per* 

Currency 

Per* 

Currency Per* 

0.9*01 

Greek eroc 

24(30 

Alin, peso 

3.1C5 

S. Afr. rand 

3X408 

1X73? 

Hiate Rone s 

7.738 

TLZedana* 

I.TO8 

S. Kcr.wen 

808X0 

12X25 

Hum. farinl 

98.15 

No rw. krone 

7J3C5 

Sweti. krona 

BJ515 

311X2 

Indian rupee 

Jl.ll 

Phil pmo 

27x3 

Taiwan S 

26XC 

sjrci 

Jndo. rjptett 

JKDfl 

Polish Vary 

XJBO. 

Thai baht 

25L4C 

29.13 

irisn t 

0.7H2 

Pori, escudo 

176*0 

Turkish lira 

14457. 

67043 

Israeli shek. 

27155 

Ru*c ruble 

1250X0 

UAS dunam 

1872 

IMS 

JCuwaiti atnor oxw 

Scud, rival 

3.75? 

Venn. boEv. 

1C610 

UH 

Ms lay. ring- 

2473 

Sine, s 

14025 




Rates 





Dec 31 

aw CSV 64WOT 

RWay 

Cuirewcy 


XMay 

60+fey (f-dar 


1X7^ 1X713 

1.48*3 

Caaodan dollar 

1J20* 

1X203 

1X201 


1-429 1.7483 

1.7497 

Jttoanase yen 

;iij» 

171X2 

I11J7 


1X384 1 4£74 

1.4*03 







Qtnraacr 
Pttond Sterling 
Detrtscne mom 
Swiss franc 

Sowers; >NC Sot* (Amsterdam' ■ Inacsuez Bant, i Brussels.' ■ Banco CammercJaio Itgliona 
t Milan! . Asence France J +essr i 'Purist: Bonk of To* to i Ton -a : ; Ra-ai Ban* at Canada 
l Toronto i .- IMF ISDN >. Offer eats tram Pewters and AP. 


Compiled by Ota- Staff From Dispatches 

NEW YORK — American in- 
vestors took advantage of higher 
returns abroad to buy record 
amounts of stocks and bonds of 
□on-U-S. corporations and govern- 
ments for most of Iasi year, an 
economist Tor the Securities Indus- 
try Association said Monday. 

Americans bought a record $99 
billion of debt and equities from 
abroad in the first nine months of 
1993, almost doubling their full- 
year purchases of 352 billion in 
"1992, the association said. In the 
third quarter, investors bought 525 
billion of slocks and 521.4 billion 
of bonds from non-U.S. issuers. 

“Institutions and individuals are 
looking for opportunities, and 
what they are seeing in the U.S. 
market in terms of total return is 
less than overseas,” the economist, 
David Strongm. said. 

The bulk of the investment went 
to Europe, in anticipation that 
slock markets would benefit from 
lower interest rates, though invest- 
ment in emerging markets jumped 
40 percent. 

Purchases of shares in companies 
in the European Unionsuraed to a 
record S12.6 billion in the third 
quarter, compared with S 6.8 billion 
in the second quarter, the previous 
high- Within the EU, investors fo- 
cused on British stocks, which at- 
tracted $7.9 billion, compared with 
the previous high of 55. 1 billion in 
the fourth quarter of 1991 


Purchases of French shares 
reached a record Sl.l billion, com- 
pared with a previous high of S692 
million in me second quarter of 
1991. 

Net purchases of German equities 
rose to Sl.“ billion, far beyond the 
old record of $903 million in the Erst 
quarter of 1990. and purchases of 
Dutch stocks came to 5861 million, 
eclipsing the record of 5588 million 
set in the 1991 second quarter. 

More adventurous investors, 
meanwhile, ventured into emerging 
markets in search of higher returns, 
as economies of some developing 
countries grew at several times the 
United States’ rate of growth. 

In the first nine months of the 
year, investors bought 57.9 billion 
of stocks from companies in devel- 

r 'ig countries, compared with 
ut 55.6 billion in all of 1991 
More than S4.S billion was invested 
in Latin .America, including SI .6 
billion in Argentina. S1.3 billion in 
Brazil and 51. 3 billion in Mexico. 

In Asia and the Pacific. US. in- 
vestors bought a record net SI-9 
billion of Hens Kc-ne shares in the | 
third quarter, compared with the old I 
quarterly high of S957 million in the ! 
first quarter of 1992. and 5504 mil- 


EUROPEAN FUTURES 


Dm. 31 


Man low Prav.flbi* 


Food 

COCOA (LCE) 

Shrtiwnwmei»lc1oo-1ofsol1#1«» 

... — — 9|0 ni 

929 930 

942 943 

994 934 


997 99# 


Ett.SoM3.921. 

COFFEE (LCEI 

Dollars per metric ton-ton 4l 5 *»* 

Jen 1,177 1.178 1.175 1.1 M M» 1.1H 

Mar 1,197 1.198 1.I9B 1.1B4 1,188 J.Jg 

Mat i im t Am udi i.iw ijn i,i93 

Jte 1.194 SS law 1.190 1,189 I.IW 

Sep 1.196 1.198 N.T. N.T. 1.190 1.191 

Nov 1,190 1JBD N.T. N.T. 1,193 1.194 

Jon 1,190 1J00 N.T. N.T. 1.190 1.IM 


Mar 

90* 

910 

010 

901 

May 

m 

930 

931 

921 

Jly 

eio 

944 

904 

936 

Sep 

933 

9SS 

055 

W8 

Dec 

NA. 

N.Q. 

966 

MO 

Mar 

981 

m 

9B2 

975 

May 

m 

m 

992 

MB 

Jly 

i/m 

13)07 

99S 

995 

See 

1x10 

1A13 

1*015 

1.605 


Est Sates 1.382. 


High Low 
WHITE SUGARJMbMO ___ 

Delian per metric iwrtot* tf s* 8m* 
Mar 284.* 284J0 2S0JXJ 20660 

MOT 28650 N.T. WU 289X0 
AM n\M N.T. 39000 27200 

Od N.T. N.T. HlOO 2B2» 

DM NT. N.T. »00 2B3IS0 

Mar NT. N.T. 281 JO 28440 

Ear. soles 307. Prev. soles 72 lots 
Interest 12J7S 

WMte sugar prices tram Jtn i 


arse 


* 140 
+ 2M 
+ 1.00 
+ 2 J 0 
+ uo 
+ ISO 
Open 


Metals 


ALUMINUM (HW Gctnte) 

Del ion per Metric no 

Seat l HUSO 110BJ0 1J2BJB 1121 JB 

Forward I12SS0 H25J0 1137OT lisas# 
COPPER CATHODES fHtefe Grade} 

OoUnn per metric ten _ _ „ 

Spot I757.cn 174750 1807 SO 180800 

Forward 178&00 1788^0 183800 1829-00 

LEAD 

Dodon per metric ton 
Snol 473JJ0 47400 485J0 48450 

Forward 4S4S0 487.00 499S0 50000 

NICKEL 

Do! lor* per metric ten 
Soot 529000 52S5.ro 5375JB 538S3XI 

Forward 53SOBO 5251JJ0 5430310 544U0 

TIN 

Dollars per metric too 

Spot 474500 4755.00 48753X1 

Forward 47953M 4800310 492S3U 

ZINC (Spcdai HMi Grade} 

Dalian per metric ten 

Soot 10013X1 HOT JO 9883)0 9093X1 

Forward I0I«3» 10I75O lOOSLOO I0KJ» 


Financial 

Htah Low Close Change 


3-MONTH STERLING (UFFE) 
0MUW-pfsaf HO per 


Mar 

9682 

94X6 

9681 

+ 0JB 


9S3Q 

9496 

9502 

+ 03M 

Sen 

95.10 

95JM 

9510 

+tm 

DOC 

95.10 

9S3JS 

9510 

+ 03H 

Mar 

9697 

9698 

9497 

+ 030 


9600 

967S 

•679 

+ 002 

Sep 

•697 

9657 

9657 

Unch. 

Dec 

9630 

94X8 

9638 

+ 0311 

Mar 

9628 

9620 

94X8 

+ 0JB 

JcfB 

Mil 

Mil 

P61I 

+004 


Esl. volume: BJ67. open Interest: 375829. 

MHONTH EURODOLLARS (LIFFEJ 
si mnnoa - Pit Of 100 pa 

MjN map 


Jen 

Sep 


Mar 

Jm 


•% 


N.T. 

N.T. 

N.T. 

N.T. 

N.T. 

N.T. 


N.T. 

N.T. 

NT. 

N.T. 

N.t. 

N.T. 


9M9 Unch. 
96.15 undv 
9484 unen. 
WL*5 Unen. 
9531 Unen. 
95318 Unch. 
9489 Unen. 


si. volume; 24a. ooen imerest: 83157. 


MAO NTH EUROMARKS CLIFFB) 
DMl million -ptt of 180 pa 



Mar 

•435 

*433 

94L55 


JOT 

9510 

9507 

9510 



Sop 

9430 

95X8 

9530 

_ 

Dec 

9571 

9560 

9571 


Mor 

9581 

9577 

9582 

2 

Jun 

Sea 

9551 

957D 

%% 

95311 

9570 


Dec 

9553 

95X3 

9153 


Mar 

N.T. 

N.T. 

9541 


JM 

N.T. 

N.T. 

9527 


Est. volume: 1L377. Open Interest: 


+ 030 
+ 03Q 
+ 03B 
+ 03)3 
+ 03M 
+ R 8 S 
+ 030 
+M 
Unch. 
+002 
mm 


Hlflb 


Lote OOX C M — c 


LONG GILT (LIFFE> 

saaoo.ptoflsandipsiflpct 
Mar 130-12 12047 120-11 +(HP 

Jim N.T. N.T. 119-19 +IHfi 

Est. volume: Ulo. Open iittorad; 102,191. 
GERMAN GOVERNMENT BUND (UFFE) 
DMZJUHI-PbBfIMpd 
Mar lOLtt 101JS 10U3 +007 

Juo WA6 W1JS 10L2B +0317 

Est. volume: ejnt.Ooen brtarat: 131AUL 


Industrials 

Mth Low Last seme cm 

GASOIL tIPE} 

US. dollar* pop metric toHats oMn teas 



1403)0 

138310 

139XS 

1X0XS —1X5 

Fob 

140.50 

139X5 

1.T7.7S 

M0X5 -UO 







N.T. 

N.T. 

N.T. 

14025 — un 

May 

14130 

141X5 

KUO 

4130 — un 


1X230 

142X5 

142X9 

1X230 —13)0 

Jal 

I462S 

14625 

I46» 




N.T. 


M8X5 —1X9 

SOP 

N.T. 

N.T. 

N.T. 

14829 —1X5 


N.T. 

N.T. 

N.T. 

151X5 —1X5 


N.T. 

N.T. 

N.T. 

153X5 — un 

DK 

155J3 

15573 

15575 

15573 — 1.00 


Est. . 
Open 


_ . Prev. sales &337 . 
110083 


BRENT CRUDE OIL (IPS) 

U3L doHon per tarreHots of UM barrels 
Feb 1133 1320 Q20 1330 — CUM 

MOT 1332 I3J9 I3J7 TUB —CUD 

Apr 1170 1347 13A7 1338 —0312 

May N.T. N.T. N.T. 13.92 Unch. 

Jan 14.15 14.12 14.12 14.13 — (US2 

Jal 1425 1425 1425 1425 —all 

APB U34 1443 1454 1454 +003 

Sep 1425 1455 1455 1455 —036 

OCT N.T. N.T. N.T. T4j57 —038 

Est. Sales 92<4 . Prev. sales 183D7 . 

Open Interest 140S53 


Stock Indexes 

Kleb Low Clew Change 

Sr'S&'SS 

Mar 3471A 34240 14240 —213) 

JOB 343931 343931 34370 —220 

Esl. volume: 446Z Open Merest: 67A12. 

Sources: Reuters. Motfl Associated Press, 
London inn Financial Futures exchange, 
mn Petroleum Exchange. 


Spot Commocftttos 


Jan. 3 


Commodity 
Aluminum, a> 

Cotton. Braz* lb 
Cnooer olectralyllc, U) 
Iran FOB. fan 
LlCKLIb 
Silver, trov oz 
Steal (scrap), tan 
Tin. lb 
Zinc, lb 


Today 

Prer. 

0X93 

0308 

0X13 

IU. 

0945 

0934 

7123X7 

21100 

032 

032 

522 

53* 

12930 

19930 

3X085 

COL 

04888 

04888 


Dividends 


Com parr Far Amt Pair Roc 

STOCK SPLIT 
Qmsacake Fodorv— 34ar*2 
RESUMED* 

AMronles Cora _ Al 248 141 

INITIAL 

Charter Bank - ,12» 1-18 14 

USUAL 

Bettni Bancara o N Ml mi 

Foothill InderBncp Q .10 1-38 1-12 

bwhmoI; m-maatMvi (HimaTerty; ■ s em f- 


Cenus ollcngp of securities, fhmcral 
irrvko or talcrrsn is real one pebfobed ia 
(bis ncwspBpCT sre DO! Mtbarizcd is certain 
jerisdedom ia wtddi tic burestlMHl HcnU 
Tribune is diuribated. including (he Hilled 
Stain of Atecrica. sod do not constitute 
ottering* of tnenridn. aervkes nr Bterests tn 
these jntsdictloos. The InrenutitBal Herald 
Tnbcnc sss ni uu ao rapoasibttiiy wtaaBoeoer 
far wq adtentaaacs tot cfiainM of *ny Und. 


U.S. /AT THE CLOSE 


Toys ’R’ Us Cates Finn Holiday Sales 

PARAMUS, New Jersey (Reuter) - Toys -R* Us In*, the grid’s 
largest toy retailer, Monday reported what it described as strong gams m 
its Christmas season sales. - . . . ... 

TTk rotate* said sales at its US. stores rose 7.4 percent dum 
weeks ended Deft 25, while its total sales rose 145 percent, to R 

Reynolds Metals to Drop 800 Jobs 







RICHMOND, — v . - . . 

Rj^ndds Metals Ca plant in McCook, Blmois, wfll betoi * 


at a. 

wheathe- 


said Monday. 

'C. Stephen Thomas, vice president i — . -. , 
Mill prrwiMiM Division, taid some products at McCook are bang irnascu 
out because of excess capacity in the industry. 

Apple Launches New On-line Service 

CUPERTINO, i 


unveiled an on-line service Monday 
Intended to 


leWbtid 


) —Apple; Computer., 
i with a new product. 



for fWidr en, adult home users and the education i_ 

“We want to redefine on-line services,” Peter Friedman, director ana. 
general manager of Apple Online Services. The ones out there, incl u d ing 

our own, are just a bundiof stuff." f 7fYT,AP) 

Owns^^orning Plans to Restructnre 

ies) — Owens-Coming Hbagjas Cbrp. ' 
its two operating divisions with 10 new 


said it had reorganized to i 
business segments. • 

it a byi said it was establishing a new executive vice preadent responsi- 
ble for business development, strategic p lannin g, and global souftang, the 
company said. (Reuter, JKnighl-Ridder) 

For the Record 

Pvamount Communications tnc. said it has acquired the book and 
software publishing operations of Mutt A Tedrik Veriag AG of 
Germany for anundisoosed price. ' . 

Metro-GoMnyB-Mayer Inc. said it has completed a previously an- 
nounced restructuring dial will free the studio of almost SI billion in debt 
by transferring it to a new subsidiary. The debt was absorbed by Crfdk 
Lyonnais, winch retains 98-5 percent ownership of both the old and new. 
com panies. (Bloomberg)' 

General Instrmnest Corp. said it would sefl 200,000 digital television 
converters to Cox Cable, a division of Cox Enterprises Inc. (AP) . 

Seagram Co. said it would take over UJSL distribution of Absolut vodka * 
from Grand Metropolitan FLC on Feb: 1, nine months earli e r than 
expected. . (AP)... 


Weokond Box Ofllce 


The Associated Prm ■ *- 

LOS ANGELES — “Mrs-Doubtfire” topped the New Year weekend .; 
box office, w»nfiig an estimated $17 million. Fallowing are the Top 10-'. 
raoneymakeis based on Friday ticket sales and estimated sales far!- 
Saturday aul Sunday. . .1 

tSOth Century Fax/ SHmOHan 

{Warner Brothers) - n25mHlton 

(Hollywood Pictures) SBJnrilltoo 

{Touchstone Pkdunti IXJmlJBon 

{Warner Brothers) 37-8 million 

{Untvereotl . S7.1 nrillfaa 

(Paramount) ■ SUlmWIoa 

(Miramax) SZSmnilaa 

ICokimbfa Pictures) . 52.) mlHloo . *• 

(2m Century Faxi SLSmlHba 


1. -Mrs. Doubtflnr 

2. “T7* Petiam BrleT 

3. Tombslono' 

4. Sister Act r 

1 "GrumoYOtd Men” 

4 "Boethovra’s 2rvT 

7. ’WflYne's WOrW T 

8. "Tim Plano” 

9. “GeranbiKi" 

10. 'Ghost in ttw Mach tne" 


U.S. FUTURES 


Via Auodaied Pratt 
Season Semen 

(Uti Low 


Open Han Low daw On OpJrt 


Grains 


wheat i awn 

LOOO bu minimum- doflori ner Cutiid 


179%. 

34) <4 

1489, 

151 

157W 

127 


300 *WW 177 177 

100 ADovMlM 340 
198 JU94 147 347 

3312 Seote J47V. 3471A 

109 Dec 94 155 155 

lit JUI95 


EsLseMi NA Fri t, sates. 

Fit's open mt 50200 aR 714 
WHEAT (KfiOT) 

1000 bu minimim- oadcr^ do- OusM 


191'b 

149 

148** 

148W 

15195 


1M Mor W IBS 3L85*'V 

ish Mar9*3esvs lty.t 

297 Jul94 347 147 

102V, SflC 94 144 V, 244 V, 
1UWDK94 147V, 149W 


Est. soles NA. Fr'5. soles 4278 

Fri'sopenM 

CORN (COOT) 

5.000 Du minimuTr*- OMIan per eusM 
106 T J 132‘. MOT 94 1041* 107 


188 172to-<USt* 29A17 

u4 v, wv. -am* 8>«o 
343 345 -003 H4B9 

144 348V>-03»« 1222 

ISZVl 154V?— 03)114 14N 
127 -OOl 4 


17814 3J8H4— ILDOVi 22282 
157*8 310 —AM 8,733 
142 344U-0JD 9217 

342 Ml 345V.— OJQVi 1281 
141 151 — CJH 709 


t qu 

lion of Singapore stocks, passing the 
old marii of S.'^a miliicn set m the 
second quarter of 1993. 

Mexico's main stock-market in- 
dex rose 4" percent last year, com- 
pared with I? percent for the Dow 
Jones industrial average. 

tBIonmhergf AFX) 


UBWMOVM 1C8V, 110*1. 
141 Jul M 1079, 10**5 
1409550094 U 8 'i 20994 
2J8V?Oacte un ZJOVr 
153' : Mor 95 2.75*1 2.78 
2J8'.-.Mav»5 228*4 177 
1784, Jill 95 17a 229 

Dec *5 

Esi.Hha NA Fn s. totes 
Frl'SOoenM 111,785 oh 7817 
SOYBEANS tCaOD 
5.D00 6 u minimum- oclkn net MM 
726 1.7618 Jon 94 741 7AH4 

1098, MOT 94 7.11 I.IIV* 
5L«7VifA»94 7.14 7.IS 
194** Jte 94 7.(19, 7.15% 
823 Aug94 7315V, 7JJB 

8.17 See 94 873 8J7W 

SJOlaMOwM 84J Vj 852V, 
81BVi Jon 95 834V, 8 JTV. 
841 Mar 95 
8421 , Jul 95 8 « 682 

SOI 1 ', NO* 95 822 827 

Esi. sales NA. Fri'i. sates 
FnlooenW 172.133 otl 43» 
SOYBEAN MEAL (QBOT) 

100 Hats- aotosew *on 
23730 1 8440 Jan 94 3U5D 33 . 50 

1 1520 Mar 94 3020 20120 
IBSJOMcvM 2D170 3090 
19320 Jul W 3MU0 20420 
19130 Aug 94 OTJO 3030 
19160 see 71 20130 201 JO 
1M20CCI94 197 JO 19830 
440DOC94 17830 I97J0 
19(30 Jan 95 
Ed.Mues NA Fn*s iotas 
Fn'iaeenint B83C7 ON 3479 
SOYBEAN Ott. ICBOT1 
£1003 ta-t- oaten ocr 100 (a. 


107 Vj 

2X9 

2.70 

275-tj 

2.70^ 

228*8 


7J4 

7 31 

1 33 

7J5 

877V, 

737*8 

438 

840 

8X0 

8505V 


ZTJ& 
23220 
2UOO 
mm 
710381 
383)0 
39 J» 

700X0 


1B3V, 

108*4 

UKta. 

247*4. 

24BW 

174 

177* -i 

178 


8931k 

7X3 '8 

7317 

7317V, 

73B'« 

873 

847 

853 

880 

822 


1089. -D3OT4U9434 
110 tfcQI 7M1I 
isn't. *000* 40298 
2J7V, *000*8 10279 
17054 -O00V, 34258 
224 ♦ 000*4 1231 

179 -03JDV, 188 

177 tOOO'M 231 
237 6 


89841-031555 12208 
7X9 -0309, 78298 
7.13*5— 3102 Vi 32232 
7.nv— 0X156 29290 
73175* *03)0*8 4419 
877V, *OOOVi 1774 

5215k -oxiv, lam 

83754 -030 814 

887 +0X7 73 

842 - 030 128 

628 *-1 +OIM 290 


20120 2C240 
201 XO 90100 
20*40 20230 

sm an MI4I 

202X0 909 98 
19930 20030 
19740 19830 
I98J0 19730 
197 JO 


-140 IILW 
—130 4040 
-140 13275 
-120 HI 8 f 
—130 5292 
—C30 7-ST9 
-030 1290 
- 0 JD 1081 
-030 85 




2?i* 

29X8 

2*.ia 

TV 60 

-Oil 

630 



7*3) 

2970 

7*.13 

75 Al 

-00*42X78 



2VX3 

2575 

29X2 

-019 17.199 



2040 

2070 

2030 

JBXff 

*020 

iL467 



77.90 

2012 

rxi 

2011 

-OI9 

6784 

27 X 

SlPlSep*4 

26*0 

27.19 

2600 

27.15 

*0X0 

37M 

763E 

nooaw 

itsX 

y,K 

2670 

7625 

-025 

1,997 

343 

B90DBC94 

330 

2587 

2130 

25X8 

-032 

KOI 

2500 

3X5 Jan 94 

2510 

2535 

2510 

2535 

-0X0 


Est. sales 

NA Ri’iWkB 







WORLD STOCK MARKETS 


Ac«x 8 ftmee Preiie 3a". 3 
OeatPre*. 


Amsterdam 


IN Amro Hid 
;f Hsfdine 
eon 


r.EV 

nst Butter 

Is-wessontn 


wvier 

UP 

ti-aroccOK 

IG 

Inefcen 
eeovens 
inter Doutriss 
C Coionti 
er Mueller 
I Netienonri 
JV5 

IP BT 
dllovd 
e Grinien 

iiilei 
iveram 
twto 
domra 
Unco 
rento 
ivol omen 
Fh 

iilever 


lBrvXh.-wer 
l trend index 
vieu* : 14920 


7140 7130 
5730 56.10 
IES 10530 
4921 48 90 
189.90 188 

C7 E 6 

ISC 14(1 

UM 46 

7420 73 70 

KB30 1MA0 
185 18223 

21.70 7120 

55* 5AW 

273 270 

2)5x0 215.40 
4110 
8730 8*30 
39.90 33.W 
B*50 8430 
7330 9190 

41.70 4030 
4830 47J0 

57 

■930 5830 
5420 5320 
4130 « 

T7AD 77 
124X0 123.90 
83X0 4340 
12873 12530 
9730 9830 
203 304 10 

43.70 4330 

37860 225 

47 JO 48 

175X0 1 73 JO 
:ii 1H7C 
: NA 


Brussels 


:*« 2450 
2940 7940 
47M «40 
3)90 2300 
2D775 3NOO 
1S8 155 

NA. 5750 
1158 1340 
6770 4740 
1555 1580 
4040 4013 
9000 9000 
row earn 
w» 

3550 3580 
IBeU* 5TO0 
«n B undue 9050 
enSeieteue MJO «« 
a 14875 14800 

y 14975 14800 

Rltel 10450 '0700 

25925 25975 
Infer : 7JMA6 


c-UM 

Fin 


CD 

eert 

term 

reo 

Vtite 

-rooei 


lieibonk 
of i no 


Frankfurt 

AEC 17430 17230 

All lore Hold 2907 ?W3 

Altana 55330 6S3 

A360 M20 1150 

BASF 305 306 

Sever 37130 J70 

Ber,. Hvpa oank 5^30S79jo 
Bov VeretosM 534 ^3 

BBC MO 8H> 

BHF Bonk 577 525 

BMW 777 777 

Commerzbank 394 397 

Continental 768 277 

Daimler Bnu 858 BU 

Deeuno 4T3 5W 

Dt Babcock 255 2M 

Deutsche Bank 1883088630 
DouBles 554 555 

Dresdner Bon',' 485 483 

FehJmuenle 330 3t* 

F Kruee Hoeseh 1381S53Q 


Hareener 
Henkel 
MeditM 
Hoecnsi 
Hotemo-m 
Merton 
IWKA 
Kali Soli 
Kuratoot 
Ksuthof 
KHD 


330 335 

640 835 

13M 1140 
01730 313 

1C45 985 

239 238 

375 371 

ISOJB 14930 
S»3 595 

533 54* 

17311633 


KioecWier Wertte 10730 TO 
Llnae 
LuHhOTSO 

MAN 

Mqnnesnwnh 
MeniieesMi 
VLuencti Rueck 
Porsche 


PreuiOTO 

PWA 

RWE 

Rhelnmetall 

5chcrina 

&EL 

Siemens 
Tb risen 
vartu 

Vatw 

WEW 

Vice 

VOlKswoeen 
nelia 


952 948 

177T773C 
0130 418 
4233047230 
279 Z7« 

3795 379J 
780 770 

450 433 

2153071830 
57* 535 

MS SB 
1120 1149 
398 ITS 
7983079730 
7773077530 
315 3IS 
532 523 
33830 370 

51130 510 
44130 440 

850 US 


DA X index : 228738 


Helsinki 


Amer-Yntvma 

Enso-Gutreii 

Huhiamaki 

r..O.P. 

Krmntent 

Metro 

Nokia 


114 108 
37 38.70 

1B4 181 

1330 UJ0 

115 114 

1 90 in 

587 739 


Claet Frew. 

POTiala 84 OH 

Reoeio tojo 90.10 

SI OCX mam 257 251 

HEX Index S 1801X8 
Prewious : 1532.13 


Hong Kong 

Bk East A5I0 5730 51 

Cothov Pacific 15.10 15 

Cneung Kano 47XS 47^5 
China Lien: Pwr s« se 
Dairy Form Inti 1S80 15J0 
Mona Lung Dev 20JB 18.90 
Hung Sene Bonk ft ft 
Henderson Land 5930 5830 
HK Air Eno. 51 48 

wr. cwoa Gas 2UU 2Z40 
HK Electric IS 3125 

HK Lend 28.10 2730 

HK ReatTr Trust 2730 77 

HSBC Holdings 114 115 

HK Shone HllS 1SAC 14.90 
HK Telecomm IMO i*jo 
HK Ferry 12.10 1130 

Hutch Wnotneoo 37 3075 
H*san 3w« 202S 3075 

Jare.ne Main. 81 8030 
Jordlne Sir Hid 3830 __38 
Kuwiaar Motor *‘30 22.10 
Mandarin Orient II So II 

Miramar Haiei . Ji 2030 
Hew Aorid Dei 41.25 4135 
SHK Proos 73 . W 

Stel-jj 6 835 

Swire Pa e a 67 

Tai ctwuno Pres I6J0 1430 
TVE 3.93 3J0 

Wharf Hold 2725 37 

Wing On inf I MJ0 1W0 
Winsortnd. I5J0 14AJ 


Johannesburg 

1730 1730 
9330 H50 
S32193Q 
£530 5175 

12JS 12 
U S3 
10430 10330 
5545 5830 


AECI 
Afteett 
Anglo Amec 
Bartowi 
Blvvoor 
Butteis 
De Been 

Drletonlein 

Gencoc 

GFSA 

Harmon, 

Hignueid Steel 
Kloof 

NtrtMwnkCra 
Ponotonlein 
Pusatat 
SA Brews 
51 Helena 
Serial 
Weikom 
WesientDeee 
Composite ittec* 

neriout : 


105 IW 

na a 

1425 1675 
57.75 £125 
2830 2830 
47JS 4 
IU 0 82 
95 *<! 

ss 

« 

203 


1175 

48 

203 


989199 


Several stock markers mr, 
dosed Mondav tar the New 
few hoddev. 


Sao Paulo 

Banco do Brasil 


Brodesco 
B ranma 
Fut unaaaneiiM 
Pet ru fac os 
Telewos 
vole Rle Dace 
Varle 
Bovewa index ! 38009 
prev looi ; jtms 


4350 4350 
2B0O 3000 
9250 9100 
71000 69000 
«X* 3900 
38100 37500 
11040 10940 
9400 27400 
59000 59000 


Madrid 

BBV 3250 3185 

BCO Central HUo. 3380 3430 
Banco Santander 6680 6840 
Banesto 
CEPSA 
Draeoco* 

Enaosa 
Ercroi 
iberdrolo i 
Reesol 
Tnbccotera 
TeietonJca 


S.e. OaterallnA 
Pntetees ; 3077 


n.t. im 
2400 2455 
2400 2305 
6870 6800 
ISO 144 
1015 was 
4JOS 4450 
4000 4COO 
1*00 1065 
Irteu : 327.16 


Milan 


Banco Comm 
Banal 
Benetton er sue 
CIR 

Crcd Ital 

Entetam 

FerBn 

Ferfln Rha 

Flat SPA 

Finmeccanica 

General* 

IF1 

I la teem 
i*o lea* 
irtji modulate 

Madtabanoa 

Momedisan 

Olivetti 

Pirelli 

RAS 

Rwoscmle 

Sotoem 


SIM 5190 

itiStajw 

1715 ITS 
2330 314 
2099 2085 
1081 1844 
558 5*0 
4483 4384 

1S3 1581 

39950 29250 
163351596(1 
11000 HB30 
4973 49S0 
STM 382)0 
14880 14511 
959 9« 

2159 3149 
NA NA 
20190 27800 
9139 9070 
NA NA. 


San Paoto Torino 10510 logo 

SIP »10 35*6 

SME 3750 3750 

cj,|a 1504 1518 

sicnao 

5tet 4430 4403 

TwaAWRIW 2S7S0 2WW 

MIB Index : UB 
Prev (out : f3S8 


Paris 


Ac Car 677 *93 

Air LteuKfe BSl 874 

Alcotel Aismom eSJ 542 


Ann 
BancaJre iCtei 
BIC 
BNP 

Bouveues 

BSNOD 

Car re tour 

CCF. 

Cents 
Otareeurs 
Clments Frenc 
ChAMed 
EH-Anutlame 
ElKSanoll 
Eurod Isnev 
Gen. Eaux 

Havas 

imetoi 


<405 16CC 
595 5HS 
13W 1X3 
3S9J41 23730 
« 4£7 

954 935 

4779 dw 

297 A0 3TO 

117 12573 
1377 1366 

339 239 10 
355 3S7 

421.90 414.75 
1034 ICI9 
31.7S 30-4C 
2913 2973 
4S273 445 

565 557 


1 SimeDartrv 

I Sit 

| S’ »re LonC 

S'nare Press 

5,ng Siei3T:sn:o 

S tore Telecsmn 

SPcttsTraCJ™ 

UQ9 

UQL 

1 StraiL- . .. 

1 PteMA : 


Com Prev. 

&£) SAS . 

*tC 434 

775 7 JO 
455 635 
1533 1530 
433 4.18 
3 78 L'6 
Ale Aft 
II 50 1130 
7.44 735 
: 344TJ3 


Fri sftpeninf 99.946 off 1192 


Livestock 


Stockholm 

«te 415 


Lafarse Ceaaee 46770*4639 
Lnrand MM 5770 

Lvan. EcntJi 586 SI 

Or«al IL’l 1145 1365 

LVJWH. 3799 J77* 

Motra-Hoenerre 161 ij»jo 
MK tNllnB 7I7JC7C9XC 
Moutlner tCZAfl 13 

PcrlSOS 507 49S.SC 

Pecttinevlnll a»«aS70 
PemoGPlccrl C&toojs 
Peueeol 782 783 

Priniemes (Au> 1CC5 1BJ 
HooioiecnnMur 370 36^ 

Rlv Poulenc A 149 30 UAtO 


AGA 
ASeS A 
Avro A 

Anas Copra 

Electron.* B 
Er.caon 

Etse::e-A 
HcTCeLsSarken 

InyesTCrB 
Mor^li Hvi-e 
Pracord«J af 

es?* 

S-= Sour 
Sksrcia f 
Sesrsxa 
Skf 
Worn 

Tte.SSors S' 

Vaiva 

Mteer i YgerMei: NA 

Provisos : 164132 


600 390 

195 193 

41 S 415 
7S8 254 
343 U t 
ICS 1C7 
!5? 113 

166 76. 

N.A.21130 
133 133 

118 115 
1*3 138 

57 30 5630 
T71 169 

lli ITS 
137 IDS 
er. 3*5 
S4J3 » 

MS 579 


CATTLE ICMER) 

40J0CI bl- certs err b. 

7632 70.90 Fett 94 7180 7175 

BJS 7X2DApr94 7185 7597 

MJ7 7133Jun« 73.97 74» 

T3S TUCauaM 72.74 718! 

1335 7131700 94 7290 7192 

TL« 72JSDCC94 HJ4 OB 

72*5 7330 Fed 95 7X10 73.10 

eti totes N.A Fn's. sates 3J« 
Fr.'sgpmM tMB9 uo 219 
FEEDER CATTLE (CMSU 
50X00 ML- CCrtl iwr 3S. 

8690 -9 0C JryiU 8320 3X25 

5135 19 32 Mor *4 HI 25 BIJ3 

BLOD 79JC AprJ4 S3. 75 BC25 

7905MOVM 80J5 B8J0 
613) 7955AW94 8093 81.10 

8130 tejoseeu ac.DC as 

0X0 77 A5 tew 9* 79K 8X7C 

0X97 793000 90 7990 8X00 

Ea 3=m ism Fn’s son J88 
Fn's ooen Ira 11659 ue 74 
HOBS ICMER} 
tom es- am ecr O. 


72L57 

71)5 

7330 

7X45 

7232 

7125 

73X2 


8230 

KL40 

79.70 

7930 

80.45 

79X0 

79X0 

7745 


7X57 -038 3130 

7123 -050 18X71 

73 St -02 B 1A9I9 
7X30 —025 7,277 

TUB -an 1535 
7135 —0.17 708 

7102 -OS 18 


8237 —048 1487 

6045 -072 3,754 
!9J2 —075 L94I 

7935 -065 1X43 

me —031 t.ni 
79 ® -ms ia 
7985 —023 a 
7945 -040 III 








H1OT 

Low Dan 

Won 

LOW 

CMC* 

Or 

OpinS 


1037 Moy 75 



10X9 

+0JM 

n 


1037 Jul 95 



UX5 

+OXI 

5 


10370099 



10X5 

+OX4 

T 

f Est.Hrie* 9750 Fife soles 
FriteOPCnirt 101,148 

6508 





03004 

(NCSS1 






UmacrickirB-Iparlan ' 




+a 


1499 

953 Mar 94 1137 

1146 

1137 

IMS 

32295 

1300 

97BMay94 1171 

1199 

1171 

1197 

+H 16X32 


799JW9I 1798 

an 

11(0 


+22 

Mff 


KQOSepM 1231 

t252 

1231 

TS1 

+ W 

6374 

13B 

TOE Due 94 1258 

1270 

1256 

1278 

+18 

4iX30 


W77MO-95 1290 

1290 

1298 

1290 

+ 15 

6111 

1400 

llllA0ay9S 



1304 

+11 

0*328 


1215 Jul 95 



1315 

+ 15 

1382 

135D 

I32DSBPT) 



ms 

+15 

303 

Est. sates 5859 FrYs-Mlat 
Pri'sopenM 87XM 
ORANGE JUICE OtCTNI 
I53XM D&- certs Per b. 

6X47 





13170 

02. 15 Jan 94 10970 

113X0 

10670 

11289 

+615 

1X46 

D62S 

OLSOMarM 108X0 

11650 

10800 

11579 

+83012192 

U&flO 

89X0MOVM 112X0 

115X0 

T12JM 

115X0 

+5X0 

1806 

135X0 

HBJOJUJ 117.90 

11758 

II7X0 

117X0 

+5X0 



10538 Sec *4 



119X0 

♦ 5X0 


13600 

MBX0NOV94 



131X0 

+5X0 






12290 

+ 5X0 


11973 

10600 Mar 95 



122X0 

+5X0 



Mcw« 



7)5M 

-a» 


Estsrtes 6800 Fri*s.srtes 

12 





Friteraenw 0X27 off in 






Metals 




HI GRADE COPPER (NCMX3 





2SjattoS.-aHspert>. 




— 3X5 



7135 Jan 91 80.13 

8645 

77X0 

79X0 

1X09 


733nMqr9l 80X0 

*0X0 

79X0 

80X5 

-3X9 42865 


7430 Aw M nJB 

01X5 

B0J0 

80X5 

-200 




81X0 

80X5 

8080 

-3X0 

7X29 


76TOJua«4 81X0 

nxo 

81X0 

80X0 

—2X0 


10275 

74X0 Jtf 94 81.10 

ST3B 

08X0 

■0X5 

-axy 5,103 

nua 

7690 Sea 94 8230 

■LU 

81X5 

nxo 

-340 

ion 

with 

7573 Dec 94 81X0 

82J0 

81X0 

B215 

-280 

3JW 


7690 Jan 95 



82X1 

-3X0 


vvjn 

7500 Fed 95 86C 

80X0 

80X0 

■8X0 

-3X9 

1X03 

BO» 

78X0 MOT 95 8X00 

13X0 

■3X0 

8270 

—380 


(&00 

7605 May 93 



83.10 

_axo 


859) 

703*7 Jul 75 14X0 

04X0 

8680 

8130 

-3X8 


0610 

7SJBAU09S 81X0 

81X0 

nxo 

■1X0 

-3X8 



79. ID Sep 95 19X0 

wiw 

BUD 

BUS 

-uo 


8110 

75X00095 8230 

SUB 

12X0 

nxo 

-3X0 



77J5MM9S 8230 

■230 

8230 

01X0 

—280 


Esl scrip* 0*900 Fri'i. sales 
Rite Opened 47 MO 

Mil 





SB. VCR (NCMX) 

5(lM true at.- cents per bwee 





5460 

30B3JOT94 9083 


5083 


+132 

84 


44SXFBb«4 5M3t 

5160 

9160 

5233 

+ 03 


B83 

3880 Mar 94 DX5 

5363 

51IX 


+ 03 

1X8* 

3993 

SnXMay94 5169 

snx 

1UX 

3782 

♦ Ox 

»XM 

ma 

371XbS Tt 521X 

582X 

9160 

5317 

+U3 10XTO 


37655ep94 SJ60 

5HJ 

5213 

sax 

+ 04 

SXR 


380 JO Ctec 94 5273 

5420 

9273 

5403 

*07 

6X41 


401 X Jan *5 



5*18 

+ 137 



41 65 Mw 93 9360 

5423 

S39X 

5463 

+08 

5X83 

5860 

4U0May95 



5505 

+13.9 


5950 

<ODUB JU 95 



5569 

+14J) 


5503) 

491XSep9S 



599.4 

+ MJ 



Dec *5 



5462 

+ 142 


Est. sates 19XBD FrPvsrtek 
FtrsaaenM 115772 
PLATINUM D4MER) 

30 Payee- deOars par troy ae. 

11X31 





earn 

310X0 Jan *4 375X0 

3)600 

39600 

3MX0 

+U0 

1X00 

42830 

33500 Aw 94 3*650 

40050 

3*650 

400X0 

+190 16507 

43LD0 

35700 JW 94 4BOXO 

Amo 

399 JD 

401X0 

+330 

1000 


306000a 94 401X0 

404X8 

401X0 

40280 

+230 

323 

3973* 

37600 An 95 40300 


403X0 

40600 

*330 


Est sate* NA Prite-SOfaS 
FrPsopenmt 2tU7B 

2J4J 





GOLD 

NCMX! 






1V0 tow atr- dofton int Wf flH. 






37230 

38330 Jan M 



37170 

+190 


4i Lie 

333.80 F+tj 94 371X0 

39530 

391X0 

394JO 

+3X0 91154 


Mar 94 39U0 

3KOO 

3(9X0 

39580 

+180 

1 

41030 

33SX0AW94 39U0 

39730 

3(0X1 

39670 


417X0 

339X0 An *4 37600 

399 JO 

39530 

***80 

*290 21403 

41580 

34138 AUO 94 



4KL40 

+3X0 

695 | 

41100 

346oeoa*4 . 



4UZJO 

+200 


42690 

3OX0DK94 4QIX0 

4QSX0 

01.40 

40SJO 

+210 12X40 

41100 

38338 F® *5 



407.10 

+1» 


417.00 

36430 AW 99 



409X0 

♦110 


42690 

381X0 JUn 95 



41 UD 

+110 

3X40 

38030 

31650 Ago 95 



41641 

+110 


4113)0 

410390a 99 



417X0 

+110 



Dee 99 41630 

41630 

418X0 

4WJ0 

+110 

3X01 

ESL sales 38JDB Frite. sales 
nrsaewiM 111772 

20X80 






POH. 51. LOUK 
Redoutr 1 La) 

Saint Geaato 
S.E.B 

Ste Generate 

5M7 

Tticn:soi>C5F 
Total 
U-AJ*. 

Valeo !? r 

CAC« Index: 229838 
PravWM : 2268X3 


1187 1540 
1923 T32C 
»1 528 

529 n* 

779 76* 

157 336.9*5 

■sill :si *: 
aranr, 
^66; 


Zurich 


- ttel 8 194 IBS 

Alvsu-sse 9 new 646 

93i Brm: SovB Hi6 iMe 



76C 

8 


RM 

:«5 

DBS 

1240 

1143 

Fraser Heave 

1030 

I24C 

Genling 

2250 

31E 

Golden Hone pi 

3 ex. 

Ju 


195 

IK 

Home industries 

53C 

5.K 

In+ttcape 

610 

b 


*150 

Ii3U 

KL KeoartB 

4C9 

XZ 6 

LumOwng 


7X8 




OCBC 

lii: 

1433 


BJO 

.’91 

OUE 

60S 

bxc 


C.so Geiev B 
C5 Havaii^s B 

E;eMrow 3 
P-JXber B 
ini*rdisc»"* B 
Je:me:; 3 
L5KS aj/'R 
Lev wye 
Moeveninck B 
N«ne R 

Oe».r«.BaeN7-eP 
Fr'snaiKB 
**■* HfiO PC 
Scfro RecuW.c 
5 a-vrti 0 
5c.-ma.-r 8 
Sutler PC 

3 

j tu ja Er.k C era B 
Swiss Retrsur R 
SwHJO-r R 
U3S B 
49,n!e"nw B 
Zurich A13 B 


755 940 

NA. NA 
4199 4180 
1113 HOD 
2o« rras 
543 95? 
«T" £85 
725 735 

£46 48S 

1591 tan 

1^3 TO 

146C 1430 

8320 un 

T31J630 
4375 4369 
79C9 7900 
Cl 813 
I960 »30 
499 476 
»A NA 
TS0 789 
1387 1154 
SS5 540 
IKS 1535 


51 2S 

4030 Fab «J 

CH 

iUO 

45X0 

4932 

-fl.13 1IX1S 

423S 

37J? Bar 94 

47.K 

4*.I0 



+007 

6TO8 

514) 

4537 Jun W 

52 T. 

5157 

Sill 

52X3 

•031 

6*» 

SB 

45J0JUIM 

S2IS 

52X0 

9115 


+239 

7.127 

SI w 

46JSAUOM 

Si AS 

9139 

50XO 


■ n aJ 

1X3 

41=0 

42MOaM 

03.15 

4615 

47X5 


n ik 

7J0 

493S 

4S-W OtrzM 

49 JC 

4 9.IO 

4680 



471 

«39 

4RX0FH195 

»30 

4155 

rus 


niH 

74 

47*0 

«.WAW*S 




48JJ0 

•eio 

I 

EM MriK 

A7JC Fri'i ides 

1345 





Pi'iwmirt VOIt 

* 4Y 






PORK BELLES ICMER) 






tt-oaom 

- cents Derm 







41 15 

V HFflOW 

57 45 

5730 

5655 


—0X8 

SXD 

t£*a 

IBiOflitarM 

S7« 

S8.0S 

S7.I5 

V.d 

-0JQ 

IXSO 

01.30 

<jCMOv«4 

5*30 

nxo 

58X7 

98 J0 

— QJ0 

1X3* 

07 00 

3*JCAii«4 

»5S 

W.S5 

9675 



1XS) 

5930 

42.00 0«ra 94 

94 00 

SACO 

56*0 

SXS 

—0X5 

319 


Financial 


Est. VMS 7X24 Fn's. Mtes U29 
Fri'tapeniw 9 7?i off 53 


Food 


amec itocsei 

J7 JOO 8»i . oenr. rw fa 
mn 0l2ONfar*4 

71x9 

73J9 

71 XS 

7150 

+0*5 36094 

9050 

6225000V 94 

*380 

76*0 

72U 

76£9 

*0+5 93« 

r*s 

M-WJulM 

74*1 

1401 

74(0 

*540 

+ 138 1345 


«6«Ser*l 

7U0 

77.49 

76X 

7685 

+ 13S 11H 

ex 

77 lODecOe 

HL25 

*980 

7629 

J*J3 

+ us un 


-BWnurn 

«L7C 

K» 

0UD 

36JC 

•135 

739 


Vay*1 




0135 

■ 075 

3 


EzL Sates 7JB6 Frl'vvm 
Fisocenirt 51J82 
SUGAR-WORLD II WC3E) 

112.008 En.-4c«fipe»B. 


SemeMwana 


ic • MSisdex. IH1X5 
T: 1 5w»«ws : ?XAI 


i:x* 

835000+94 

iar* 

■085 

1064 

1083 

,605 41974 

l'X8 

0JOVOV94 

10 ft 

11X2 

UM 

IIJ51 

>084 56170 

H55 

* IS Jul *4 

1084 

lam 

1477 

169! 

+008 15.9*5 

ii a 

?420C«t 

1083 

I0.H 

IC.7* 

10X9 

•08 0 0X9* 

1017 

9.1." Mar K 




1089 

-OC4 ion 


US T. BILLS (CMEHI 
« nteBon- MS Ut UXI PCX 
98X0 fODAto-M 98X9 9179 

9676 96.15 Jun 94 9830 9830 

9644 96X8 Sw 44 9818 MX 

Dec 98 

Esr. sates 2J88 FtTlccxm IJH 
FrrsflBenxn 3 UB w 918 
SYRTRRASURY (CBtTTJ 

1100000 Pftn- PNA 22nOldl 100 acf 
11V055110-I? Mtr MHN2BS1W-2BS 

113- 05 UJ9-27 Jun 94 109-31 109-31 
ESL sixes HA Fifs. sixes 8.937 
FfTsoPtelH 1(0448 up 1906 
MYR. TREASURY (OM7T1 

1100 XCO Brio- (4» 0 32TK& DMDOpa 
116-09 IBS-00 Mar 94112-22 112-23 
IIS-ZT rOB-19 JteiMin-U HMI 
ltl-ai 1W-Z7 Sea«4 

114- 21 110-18 Dec 9* 

McrfS 

Eit. sates NA FrTL mn 18X10 
Fri'i open W 251.142 bp 144 
US^ TREASURY BONDS (0091 
aod-tiauM-cts & nndsof too pen 
120-31 95-00 MarfHM-U IM-11 
179-39 91-08 JutM (15-W 1)3-11 
118*28 (0*12 SeaHin-00 113-08 
1TMI 91-19 Dec 94 117-04 117-04 
118-20 HD-08 Mar 951 M- a IIO-H 
113-19 98-15 JUS 95 

m-u 110X0 Septs 109-00 mat 

113-14 106-75 Die 98 
ESI.WteS NA FtTLStln 1080 
Pn*iapcnM 319734 up I2H 
MUNICIPAL BONDS 5CB01} 

510BB1 kxtn-pa & nndsanoopci 
1S5-22 99-22 MsttHQ-N WH4 
UD-OB 100-03 Jun 94 KR-04 102-07 
Est totes NA FrTt sates m 
Fr isooc nim 24,1)8 ao S 3 

EURODOLLARS ICMER] 

51 muua-cncX MB PCI 

9682 9028 Mar 94 9648 9650 

9675 9040 JUpM 96U 9614 


9678 9676 

1648 4648 

9611 9619 

9815 


-0X3 27X00 
-0315 5X38 
-008 a 
-008 I 


1B-M 110*16- 
109-75 109-25 — 


111-30 112-02 
ltl*« TIMS 
110-12 
W9-14 
109*04 


11 J-U 111-20 
in-)) ii*-m 
111*14 111-19 
111-04 111*08 
IW-12 110*14 
MM 2 
town HMI 
108- 17 


123 196307 

13 1361 


19 852X79 

21 7XD8 

20 384 

2 ! 10 

21 I 


20 ®5X» 
a rum 

* 1104 

2 

2 0 
» » 
29 n 
39 i 


W-07 107*08* 

w -12 in- 13 . 


964S 9848 
96X8 «L» 


■38 36074 

-IBS 41 


— 0X33(9388 
-0X5»4lte 


Saxon Seam 
Met, Unx 


Open Mob Law Oase a*T OpJni 


98X4 9035 Sen 94 9SJ0 95X3 9535 

9641 9671 Dec 94 95X2 9542 9534 

15X0 9034 Mar 95 9538 9538 9119 

9540 9071JU195 9102 95372 9L95 

9543 9131 Sep 95 94X3 94X3 9438 

95X1 _ fLM Dec 95 HX .Mt- 9445 

EsLlaEt 229380 FtTl sates 71X94 
HTscpeaM 2415982 off SS : . 
RRtnsMpaum (cmbo 
S parpaond- 1 paktfeautet jttxooi 
13304 14080 Mar 94 -L4722 14778 14488 
1-5150 14590 An 94 T4700 14720 14540 
1401 14800 Sep 94 

14950 LOB DK 94 14830 14830 14572 

EsLbSB 9,04 FtTLsdes 4X8) 
RTsapenH' - subx off JT 
CANADIAN DOLLAR ICMBH) 

InrilM ptfnt equate 10X001 
oxre 02394 Mo 1 94 07548 0305 07588 
03885 03385 JIM 94 .07340 02405 02360 

07740 02343 Sep 91 113555 02595 03950 

07970 02315 DlC 94 

03515 DJJ74NHS-95 03575 03300 ' 07571 
EcL COlet 9X54 FH-c-ndes 0383 

PrT* open tat- 2S4M » » 

CERtMANMARK ICM M U 

spar mate- inafri* courts flLOOOl 
06205 83680 Mar 94 03730 05738 03782 
03® 83407 Atn 94 05499 ASW 23B4 
04085 - 03ODS8FM 05(77 05872 05181 
eXLcalPA 30925 Ftrx.srte> M474 
FtTs open Irt 171 .Ml UP 755 


9678 -OQ8 2 S8654 
9038 -007170151 
9621 -00718627 
9U7 —007126661 
9437 —007172X73 , 
9446 —0X7 45448 


14895 ' 612 27454 
14MB +18 930 

14M +16 1 

14572 +20 1 


6700 . *51 2X177" 

07400 +51 1X74' 

02597 +51 en. 

OTM +51 354 

073W +53 112 


05708 -0117X88 

05410 —9 Uff 

05084 -7 199. 


S pcrvtn -lpqMc mrtsMUBWIOll 
ajxarmwwfiMfxtaMmmm 

O0OW5U»WS5JUQ»4 

DJXRsiaxonoasap 9i 

Est sate* liXM FrFs-Srtes 4448 
FtfsauenM 10060 off 


iperfrroc-l potest equals SL0001 • 

02195 66300 Mar 94 06725 66762 06481 
unx oxaojun94 oath asm iubti 
03080 8X00 Sep 94 

EsLsties 19401 WlkPbs 10X17 
FtrsapenM 4BOM off 10M 


Industrials 

commi memo 

30X09 OtLr-OMlSPWh ■ • .... 

0018 5662 Mar 94 <740 6634 <7X0 

8025 3747 Max 94 040 8948 0035 

8930 3030 JutM 090 0X5 66X7 

8720 BJTOa«4 <7X7 <730 67.n 

88JX 590 Dec 94 44X5 80X5 0(40 

873)0 8230JUIar9S 

883B 643X1 MOT 93 

&L xrtes 6000 FtfLKriai 5 
FtnaPMiar 9X03 off 107 
HEAHMGOR. D4MBO 


8728 -Ott 27X00 ' 
1077 -01610343 .' 
4935 - 4357 ■ 

87.11 -439 9M . 
0AA8 — U» 52B . 
87.10 —030 

6735 —an . 


OSS <L2SJan9t 5625 .1045 

HUB 4X00 Feb 94 4450 4330 

<030 43J5MOTM 4430 4LX 

3675 4X70 Aw 94 44J0 45. IS 

5730 <L9MapM HH 44X5 

AUSJunM 4610 4500- 

4430 Jot 94 4630 4525 

45J5AO094 4523 464) 

482SS9PM 47 JR 47X0 

4720OCJ94 47X0 4BJ0 

41X0 Nov M 49.10 49X0 

4M0DecM 3070 30J0 

51 3» Fib 95 
9025MarfS 
4930 Apr 95 
4925 MOP 15 
492* Jim 93 
EPLxrittt 31X17 FVfLiates 49X92 
Frfs open lot 1B3X3S 

ueifrsnGEratins wmbri 

1X00 bbL-dNkrs per bbL 
2055 1196 Feb 94 1425 1685 

163ZMar94 14X2 1627 

1448 AW 94 UXI 1£3B 

tun May 94 15.13 15X0 

U»Jun94 ISA un 

13X8 Jut 9d 1543 15X5 

KJBAooM 1591 1610 

l83XlSep94 1502 1015 

1634 Oct M 1522 1057 

MXSNovM J54P MJB 

1555 Dec 94 18X5 16X0 

1 573 Jem 93 
1091 Filb 95 
17JMMar93 
1720 Aw 95 
1720 May (5 

1725 Jun 95 17X3 17X5 

1730 Jul 95 
1723 Sep 95 
UXSCtecff 


3025 3030 

4640 4UI 
44X5 4528 


57X0 

5580 

5727 

57X0 

5820 

WOO 

son 

5730 

ssn 

3030 

51X0 


2LMI 

20X8 

2080 

21X5 

12028 

2070 

2021 

2073 


4610 
46 U) 
4650 
4525 
47X0 
40X0 
49.10 
5010 


17.11 
19X0 
2088 
nxo 

19X3 
20X0 
17X0 
19X4 
20X9 

EF-Wte s 7L77S Frt'6 xales e^t 
Frrs open mt 412.117 
UNLEADED CASOLME OIMBHJ 
0-000 ert-aerril per dc 0 
57X5 30X0 Feb 94 4015 SXM 

57X0 4040 Mar9« flJS CL60 

8230 4605 Apr 94 4140 40X0 

SL30 4U0nir» 46 ia 48X5 

81X0 4USJU094 4695 VSS 

80X0 460 Jul <M ” 

4000 47.ttAoaM 

5480 4820 Sot 94 

Efl. Fries NA Frft sates 29.IS 

FrTiapenbd 137,185 


4435 

4675 

4675 

45X5 

4605 

47X5 

48X0 

4835 

49.90 

5630 

49X5 

40UB 

4835 


14X1 
WX7 
1528 
ULO. 
1520 
15X4 
1614 
4634. 
169 
MX9 UX» 
1683 16JM 
1659 
17.13 
1725 
1727 

17X1 

17X2 17X7 
17X6 
17X4 

TOM 


l&U 

1540 

TUI 

1691 

I&3S 

U22 


• 8.10 

4I7S 


41.18 

42JS 

43JI 

48X1 

47X2 

A7J3 

47X3 

<723 


MV 854 * 

+08(5688 1 

+OK3LI75 t 
+0920X73- , 
+647 35X21 . 

*09 10738 . , 
.+0911,(10 1 
+09 XT*) - 
+09 3X09 - 
■+«9 _ *, 

+057 1,767 
’ +0X7 sms 
+09 * 

+U7 * 

+09 

+007 • , 

■+OB • 


+039 90700 *- 
+0984251 . * 

2535; 1 

+ 032207(5 . 
+8S33X04 , 
+03118,07 • 
+09 0295 ■* 
+631 13.195 _ 
+030 «JM. - 
rflJ* MM - 

+«af K»n.- ■. 

mb - urn ■ 

+020 19)011 
+fl» ■ ‘ 

+027-6185 ■ * 

tooww • 


+U*4t^ .■« 

♦•SSS •- 
*«*SS ■* 

+074 92 ^ 

+181 .2S 
+a#u» . * 
+<UI 


Stock Indexes 


U 


»PG0MP.MDCX COMSO 

SOQxtoQcx s+ »i 

«U5 C4J0 Mar 94 40690 46730 484X0 *4523 _4J2OT3j , a 

«83MJun9* 4660a 48870 405X0 487.H -830 W3* • 

« 6 M feOXOSeof* 40000 489X5 487310 <9X0 _ 

gt- W 429 20 Dec »« 471X0 471X0 489X0 40txo -«30 U* ~ 

ESLStOH NA FrfLKXts sow . .-.'."Vi :* 

Ftnoamu mem or w 

NYSE COMP. INDEX CMYFEJ 

2 *^«xJcanti 

ftixs 24240MW94 25885 359X0 257X0 250X5 -4U8'«£.- _ 

J2S »8D 239X0 250310 2®D -0*5 * 

2*1X0 23BX0 Sec 94 291 , 1 $ — A« 

29X0 237 J5 Dee 9* m ZXS B ~ 

g.«8IU WMP8 UNO Vjy*4. 

Fri'i Open kit 4X9 up WO 


Commo<fity Indexes 

Otm 

Moody's «A 1 

DJ. Futures lit 77 Klh -- 

Com. Researcfi TffM- - W® ‘ 

■ : • •. *.-•/? 


' e 
: 

!5s r : 




r 

rr, 

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INTERNATIONAL HERALD TRIBUNE, TUESDAY* JANUARY 4, 1994 


French Banks 
Reduce Rates 
To 20-Year Low 


Investor’s Europe 


Frankfurt 

OAX 



AS 0 N 


London 

FTSETOOf 

m 

30} 

33 a — — - 
22® * 

3103 'TCT 
sse/V- 

2 ® r AS'0 


Paris 

CAC40 

2335 r~ 

2E9D — ? 7 

^ J A S O N ST 


Bloomberg Busmen Vmi 

PARIS — Leading French hanks 
oil their base lending rales Mon- 
day lo a 20-year low of 7.95 percent 
from 8.15 percem, sending bond 
and slock prices surging. 

Credit Commercial de France, 
Sotifcte Generate, Banque Nau on- 
ale de Paris. Credit Lyonnais and 
Banque Paribas all announced the 
rate cat. effective Wednesday. 

The move, which the banks said 
followed a decline in shon-ienn 
money-market rates, helped boost 


Cost Controls 
Aid Hoogovens 

AFP- Enel Sties 

BEVERWUK Netherlands 
— Hoogovens NV saw operat- 
ing results improve in the sec- 
ond half of 1993 as the resile of 
a cos-cutting program, but the 
steelmaker was unprofitable 
for the third year in a row. its 
chairman said Monday. 

Maartin Van Veen, the 
ch.-Hr man, did not provide spe- 
cific figures for the second half 
of last year, nor did he offer a 
1994 forecast. Hoogovens had 
a net loss oT 189 million guil- 
ders {$97.5 million) in the first 
half of 1993. following a full- 
tear 1992 loss of 595 million- 

The 1992 result included a 
370 million guilder restruemr- 
ing charge that trimmed about 
2J00 jobs. Mr. Van Veen said 
cost-cutting measures led to 
1993 savings of about 450 mil- 
han guilders, 100 million more 
than had been expected. 


the Paris stock market to a record 
Close, its fifth rinse Dec. 23. and 
sent flovensnent bond prices to 
new highs as well. 

The stock market's CAC-40 index 
ended at 1290.56 pom is. up 2134. 
The 10-year government bond con- 
tract for March delivery, meanwhile, 
ended 0.12 point higher, at a record 
131.00. The yield cm the 10-year 
bond in the cash market feQ to 5.63 
percent from 5.64 perceau 
Redncec merest rates are viewed 
as essential in helping France's 
economy grow and bring down a 12 
percent unemployment rate. 

French hanks’’ base rates, which 
are their lowest rates for commer- 
cial lending, have stood at 8.15 per- 
cent since iaie October, when they 
were cut from S.4G percent after the 
Bank of Frcxe reduced its money 
market intervention rate. The new 
rate will be the lowest French bank 
base rate since June 1973. 

Charles de CroUseL diairman of 
Credit CcmmerdaL said base rates 
wouid probably decline further in 
die next few months as short-term 
money market rales come down. 

■ Sweden Loners a Rate 
Tne Swedish central bank cut its 
discount rare half a percentage 
point. :e AS percent, effective 
Tuesday. Ageace France-Presse re- 
ported from Stockholm. 

Bur the bank’s marginal rare — 
‘ire rare a: which it provides funds 
to the banking system — was un- 
changed a: 7.7 5 percent. 

Sweden's discount rare is set auto- 
matically a the beginning of each 
quarter and is based on the average 
level cf interest rates during the pre- 
vious quarter, ft thus has less of a 
role in monetary poBcy is Sweden 
than in many other countries. 


1993 

1994 1093 

1994 

1993 

Exchange 

index 

Monday 

Close 

Prev. 

Close 

Amsterdam 

CBS Trend 

NJl 

149.20 

Brussels 

Stock Index 

7,564.66 

7,543.12 

Frankftirt 

Frankfurt 

DAX 

FAZ 

2^67.38 

654 JS 

2£6&68 

547.57 


Heteinki 

London 

London 

Madrid 

Milan 

Paris 

Stockholm 

Vienna 

Zurich 

Sources: Reuters . ! 


HEX 

Financial Times 30 
FTSE109 
General Index 

CAC4Q 

Affaersvaerftten 
Stock index 
SSS 


1,601.06 

Closed 

Closed 

327.16 

1,367jO0 

2^90^6 

N.A. 

48ft 79 

i^2i.as 


1694 

% 

Change 


1,582.12 +1^0 

2,559.80 

3.416.40, 

322.77 -vl.36 

t, 356.00 +0.81 
2^68^2 +0.96 

1,641.52 

433,67 +1.27 

1,012.63 +0.91 

bttcisw.'fl-i) Hemd T rK-tw 


Very briefly: 

• Rritmn launched a review of its media ownership laws that could make it 
easier for newspaper owners to move into commercial television. 

• Republic New York CorjL completed the acquisition of the London gold 
bullion unit Mase Westpac Lid. from Australia's Westpac Banking Corp. 

• British Aerospace PLC confirmed it was discussing the sale of its Space 
Systems unit to the Anglo-French aerospace concern Marra Marconi. 

• Scawfinavian Airfines Sy stem has agreed to sell six Boeing 767s to third 
parties and lease them back under five-year accords. The deal will raise 
about 3 billion kronor (S36I.4 million I.’ 

• Carnefoar SA has bought an 80 percent stake in Socfeta Srifnppo 
CoammMt, which operates four malls in Italy. 

• Rony Cointreau's unit Remy & Associes Distribution France SA signal 
an agreement with the Polish company Polamo to acquire 55 percent of 
its Pol Lesta distributor for an undisclosed sum. 

• SPI Pharmaceuticals Inc. said it would acquire 30 percent ownership in 
ABtaloida. a pharmaceutical maker in Hungary, and it plans to raise its 
stake to more than 50 percent. Terms were not disclosed. 

• MetaflgeseDsrinft AG said it would meet creditor banks Wednesday. 

Reuters. Bloomberg, AFP. AFX, fought •Bidder 


For German Privatizer, Privatization 


Compiled by Our Staff From Dispatches 

BERLIN — The German government agency in 
charge of privatizing the economy of former East 
Germany, tire Treuhandansialt. is io be partly priva- 
tized itself in March, the agency said Monday. 

The Treuhaad, whose assignment is slated to end at 
the end of tins year, will set up a limited liability 
company in Man*, to which it will transfer all its 
powers m connection with chocking on and monitor- 
ing privatization contracts, tire agency’s president, 
Birgit Bread, said. The new company will bear the 
name of Verirags-Reprivatisienings- & Abwickhtngs- 
management GmbH, or VRA. 

The agency is now negotiating with accountants to 
privatize a 25 percent share in the new company. "The 


aim is to privatize VRA fnQy as quickly as posable," 
she said. 

Treuhand is still seeking new owners for just 266 
companies left from the 1 3.3 84 companies it took over 
at its stan in 1990. Of those 266, 73 have been handed 
over to five management companies, called Manage- 
ment KGen, for longer-term reorganization. 

VRA wil] supplement the existing Treuhand affili- 
ates, the Treuhand Liegpnschafts Gesdlschaft for 
managing real estate, and the Boden Verweramgs- & 
Verwaltungs Gesellschaft for agricultural land. 

Treuhand has also suggested creating an agency 
that would manage local communities' property such 
as hospitals or kindergartens once Treuhand iisdf has 
been disbanded. 

(AFP. AFX. Bloomberg} 


Disney Said to Duck 
Euro Disney Audit 

AFP-Extel Ne*s 

PARIS - KPMG Peat 
Marwick, the auditor appoint- 
ed by creditor hanks to study 
Euro Disney SCA’s accounts, 
has met “a total refusal to co- 
operate" from Walt Disney 
Co., sources close to the con- 
flict said. 

Walt Disney Co. responded 
that its auditor. Price Water- 
house USA. “gave all die ma- 
terial relevant to Euro Dis- 
ney’s finances" to 
representatives of KPMG. 


G-7: 

Is Its Time Over? 

C-ontianed from Page t 
fare state seem Kkdy to penalize 
die rest of Europe 
“These are going to be the nasty 
90s for Europe," said Christopher 
Potts, chief economist at Banque 
Indosuet “From a European point 
of view, the United States looks 
like an economic paradise." 

If Europe needs solace for its 
doklrmns, it should look to Japan. 
Tbe nation that bad seemed un- 
stoppable in tbe late 1980s now 
looks as vulnerable and unpredict- 
able as its Nikkei stock market in- 
dex. The price of wild overconfi- 
dence in stock market and property 
speculation is being paid. 

Deep adjustments seem neces- 
sary. They include some modifica- 
tion of Japanese companies' tradi- j 
tional commitment to lifetime ! 
employment and tax cuts to spur j 
consumer spending. 

But there changes will lake time. 
The Paris-based Organization for ! 
Economic Cooperation and Devd- ! 
opment predicts growth of 0 J per- j 
cent for Japan in 1994. The yen | 
may have to depredate to spur a j 
recovery, but that will be reasted in i 
Washington, where the view is that ! 
Japan mould import more and use i 
a strong yen to ao so. [ 

“Tbe big risk in the world econo- i 
my in 1994 is Japan," said .Alan ] 
Stoga, the managing director of i 
Kissinger Associates. "Tbe ma- j 
chine is no longer working, and its j 
markets look increasingly fragile. A > 
rigoificani collapse cannot be ruled j 
out." j 

Tbe Asian mantle has been iaken j 
up by China, with 12 billion peten- / 
rial customers, a double-digit 1 
growth rate and a seemingly irrevo > 
cable embrace of a market econo- j 
my. j 

Chancellor Helmut Kohl of Ger- j 
many went to Beijing In November - 
and came back with contracts j 
worth 54 trillion. In the airline in- j 
dustiy alone, China needs 40 air- j 
craft a year for the next two de- 
cades: That is manna from heaven j 
for Boeing, Airbus Industrie and j 
McDonnell Douglas Carp. > 

Outside China, growth and in- | 
vestment prospects still look strong j 
in the rest of Aria, although after 
an 30 percent gain in these equity ! 


terms, scrare correction may be due. ] 
Similar forces will continue to \ 
push money into Latin America, 
where the economies of Chile. Ar- 
gentina, Peru and Mexico are be- 
ginning to reap the benefits of mar- 
ket reform. Capital Cowed out of 
Latin America tn the 1980s, but is 
now returning. The North Ameri- 
can Free Trade Agreement has tied 
sot just Mexico, but by optimistic 
implication the whole area, to the 
United States. ! - 


VOBIS: German Computer Chain Plots New Strategy 


Continued from Page 9 
walumgs GmbH, the Swiss retail- 
ing giant. 

Kaufbof, which bought just un- 
der 50 percent of Vows in 1989, 
now owns 65 percent, tearing Mr. 
Lieven and Mr. Prating 173 per- 
cem each. 

Industry observers say Vobis 
scumbled in Latin Europe, in part, 
because it failed to appreciate the 
cultural differences in consumer 
behavior. 

“France responds io style and 
image, not price and service," said 
Mr. Brazier of DataquesL “Vobis is 
lacking romantic appeal for the 
Latin countries." 

Mr. lieven acknowledged that 


the two Vobis stores in France and 
five units in Spain are “having dif- 
ficulties,’' while its 14 stores in Ita- 
ly, he said, are approaching break- 
even. 

In Germany, Vobis operates 136 
stores, which depend on heavy 
price promotion in the form of 
product-jammed newspaper and 
magazine advertising supplements 
and, since this falL in zany televi- 
sion commercials — all overseen by 
Mr. Lieven. 

Tbe company can closely track 
consumer response and gear up its 
two assembly plants, in Aarbea 
near the Belgian border, and io 
Vienna, Austria, to fulfill the 
chang ing demand on short notice. 


Employing a just-in-time inventory 
system’ to reduce cos is. parts arrive 
at the plant “two hours to one 
week" before ihey are assembled in 
the finished computers, said Wolf- 
gang Riegel. logistics and produc- 
tion manager. 

But all has not run so smoothly, 
as hitches in the assembly organiza- 
tion have led to breakdowns in 
quality control. Attacking the 
problem. Mr. Riegel said the com- 
pany's supplier rosier is being cut 
in half. 

Some blame the problem on Mr. 
U even's inability to control expan- 
sion. "The company has grown too 
large, too fast;' said a mid-level 
manager. 


THE HOLDING COMPANY FOR HOUSING, 
TOURISM AND CINEMA 
EGYPTIAN GENERAL COMPANY 
FOR TOURISM AND HOTELS 
“EGOTII” 

96, AHMED ORABI ST., CAIRO, EGYPT 
TLX: 92363 EGOTH FAX.: 3024456 

THE ELEPHENT1NE ISLAND HOTEL - ASWAN 

(300 Rooms, 5 Stars, managed by an international hotel management co.,) 

EGOTH invites interested general Confrodors of international calibre to submit iheir prequalifications 
based on F.1.DJ.C. forms for the above named job. 

Tbe sad forms shall be obtained from EGOTH offices at; 

96, Ahmed Orabi Si., Cairo, against a sum of 500 KS. Pbunds. 

Contractors are to fill-in the F.I.D.I.C. based farms as per the instrodions iherein in Emlish fonauage 
and return to the same address in a sealed envelope no lather man 12:00 noon of 30 January J W4, 
addressed to Ihe attention of the Head of the Comffierad Department ot EGOTH. 
ft is understood ffiat EGOTH will prepare a short list of the Contractors who will be considered qualified 
to Execute rfie project bas«J on the studies for mar forms. 

The project particulars are as follows; 

1} LOCATION : Qephentine Island, Aswan. 

2) AREA : Site area is approximately 1 4 acres. 

3} SCOPE OF WORK : The Construction, Commission™ & maintenance of a 5-Star 300 room hotel 
resort comprising '6* levels inriuding Public Areas, Restaurants. Reception 
Atrium, Shops, Bars, Health Club, eft. as well as external outdoors tacififies that 

• i i* i . i- -i. I i.. c L r i. n_>j 


30,000 m2. 

41 NAME OF THE CONSULTNG ENGINEER: SH. ARCHITECTS 

5AIEHHAMDY 

4, Abd 0-MMUid 0-Remaly St. 
Cairo - Fax: 3549095. 

5) ANHGPATED PROGRAMME: 

A1 TENDER ISSUE: March, 1994. 

B] TENDER SUBMISSION: May, 1994. 

Cj CONTRACT AWARD; June, 1 991 

D) POSSESSION OF SITE & ORDER TO COMMENCE: No later than 30/6/1 991 







































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Monday’s dosing 

Tables include the naJionwtda prices up to 
the dosing on Wall Street and do not reflect 
late trades elsewhere. Via The Associated Press 









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Jan. 3, 1993 


INTERNATIONAL FUNDS 

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INTERNATIONAL INCOME FUND . 

StSSS^TDMiTZZ^DM tftS? 

ECU TERMINVEST PLC C« 71 14J1I1I) 

d Ecu FTSE 100 Out ions i 773* 

d Ecus Currency ODilans — S 

EQU 1 FLEX LIMITED „ „ 


w Class C / Norm Anterior _FI l*.H 

ERMTTAGE LUX (3S2-4D3 SO] 

nr Ermltage sell Fivtd _ — S 7037 

wErmlloge Asian Hedge Fd _I U07 

w Ermllase Euro Hedge Fd _DM 1447 
w Ermlioue Crosbv Asm FdJ 212J 

nr Ermltage Amer Hdo Fd S 1814 

EUROPA FUNDS LIMITED 
d American Eaultv Fund , — 5 270.19 

d American Oct Ion Fund S al.»3 

nr Aslan Eoullv Fd S nLlt 

n European Eaultv Fd 5 123J» 

EVEREST CAPITAL (8091 191 22B1 

m Everest Capital Inll Lid. S 127.94 

FIDELITY INTL I MV. SERVICES tLq*l_ 4 , 

a Dtscovery Fund — S 2003 

a Far Eon Fund _S ,7154 

0 FKL Amer. Assets . ..... , S 199.15 

rf Fid. Amer. values IV S H73J9M 

d Frontier Fund, — S 3829 

d Global 1 nd Fund S I9.» 

d Global Selection Fund s 2133 

d intemallanal Fund 5 I9 a» 

d New Europe Fund. — } I3XB 

d Orler.1 Fund J >1*** 

d Pacific Fund 1 *“2 

d Soeclal Growth Fund S 3672 

d World Fund S 11677 

F1HMANAGEMENT SA-LugOMlSUl/Snin 

w Della Premium Cora — S 1145X0 

FOKU5 BANK Ai. 472 428 JSS 

iv Scan tonds IrTl'l Growth Fd -5 1X7 

FUND MARKETING GROUP (BID1 
P a. Box 7001. Hamilton. Bermuda 

m FMG Global 130 Navi S 433 

/n FMG N Amer 130 Navi S HXI 

mFAAG Eurooe I3S Navi 1 10.4B 

m FMG EMG MKT (30 Nov)-S 1 1.78 

mFMG 0 130 Nnvl * 9-*2 

GAIA CURRENCY FUNDS 

w Gala Hedge 1 1 S 1S2.95 

wGaki Hedge III — _S 1ST) 

n Gaia Swiss Franc Fd 5F S153 

■r GAIA Fx S IIS J2 


1 * Cam Invest 5 Allocation I 

iWgg; 

C0 C N & CH P ^?S , N? 5,,,,O,h " : 

O WAM Global Hedge Fd. 


COWEN ’asset MaSEaGEMENT 
Co wen Enlenwlse Fund N.V. 
n CUBS A SIS— 5 


d inreiSCTj USD A I Cm 5 

d irteiranT USC B 1 Cool — J 
d Pinnies Guki m a >pivi f j 
d Fmr.scr G>cto! Ff/. B iCawFJ 

d Inielsond FPF * :Divi P 

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BANQUE SCAN DINA V e'en SUISSE -GENEVA 

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^^OTicraiLT BANK-^ 3 
(4123) J44-12J1. Genera 
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wPielode ECU Son:; feu JIOJ7 

« pwlsse f f seras ” ’B5J 
tv Pieiade r jr? i_0fiv Bonds — SF liOJ4 

nr Pieiade Cgnar Frserve * 

w Pleiads 5C-J Pwerve Ecu J9f |{ 

* Pieiade 5F Fese-ve jF J 

m p a C^r f F ■fW r 4t l P F V 00.7 5 

BARCLAYS INTL FUND MANAGERS 
HonjK.ang.Tel !iS2iS3lfln 

d Cn.na 'PRC -» 

d Hang Kirs * ?!ES 

d indBr-esiO * 

d * .T-K 

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d Matcrtta. — — * 

d Phiimmn -* 

a Singapore — 3 !;S? 

a TnaiiB--s_— * J" “fi! 

d Soutn Eos’ Asia - _ . * 4 * <w 

ODD GROUP OF FUNOS 
w BDD LSI Cosh Fund S 5=3* 

M BOD Ecu CkI> Fund ECU S994 V2 

* BDD int Bara — | nSn? 

wBCD mi BonaFitod-EOi -Ecu 73670* 

n B&D K iruricgn Eauihr FdS Sl«.78 

nr EDD Swiss. Frgn: Cash — — 5F Mn g 
w BGD Eorinw Eouit * ^.“^1™ 

mBDD A sign E~.tr Fund_S 

m BDD 'J5 Sm-cit Gas Fund — S v*a«' 

BE LIN VEST MOMT (GSY) LTD 

w Beirttvesi-Bras.i. * 

wBeinveitGunoi— — * 

w Belm rtit-lsrg*i— * 

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wBeiinve'-i-Suacrigr s toirjs 

BNP LUXEMBOURG 

IHTEP CASH __ 1490790 

I France vonetorre ff ISKs 

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INTER OPTIMUM 

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IflTERSTRA.E^iE 

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w cursee at su3 't 1 '*' 100755 

n J C«n ■ r. ", 15*000 

w AMenoue au Not B — J J2S2, 

BUC^AMN FuSSi LIFTED 

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d indexls Jgoon/Nlkkel Y 1 

d indexls G arei/FTSE— 1 

d IlldeilS FrwK«/CAC40 — FF 

d Indexls CT FF 

MGNAXIS 

d Court Terme USD * 

d Court Terme DEM dm 

d Court Terme JPY Y 

d Court Terme GBP 1 

a Court Terme FRF — FF 

d Court Terme E5P PM 1 

d Court Terme ECU Ecu 

MG5A1S 

d Actiaru Inl l Dlversillees — FF 

j StilwS lcgmw * v 

a Actions *ng tarter t 

d Acltom Allemondes DM 

rf Aellara Froncnhes— — FF 

a Actions E 50 . & Port— Pto . 

d Actions itallervm — Lxl 3 

d Actions Bossin Paclltaue — I 
d Obiig imi Diversiiiees — ff 
d Qbllg Nord-Amertatlnes — J 
ti OtMlD Jauonartos — — Y 

d ODIIg AngBtaB c 

rf ObHo AHema tides DM 

d Obiig Froneaisei— FF 

d Obiig Ess. & Port .Pta 

d Obiig Convert Iniem. FF 

d Court Terme Ecu Ecu 

rf court Termg USD s 

CREDIT COMMERCIAL DE FRANCE 

d Elvsees Manetoira— — FF J 

0 Sam ActKash USD B i 

CREDIT 5UIS5E 

rf C5F Bonds SF 

d Bono Valor Swt -SF 

d Bond Valor US ■ Dot tar 5 

a Bond Valor D - Ma.n DM 

d Bond Valor Yen — Y 

O Band vmar [ Sterling t 

a Convert valor Swt 5F 

d Convert Vtnor U5- Dollor_l 

d CSF internal wool SF 

a Actions 5uisses. — __ —JF 

d Eurcoa valor SF 

d Engrgle • Votor SF 

d PacHie- Voter. SF 

d CS Goto valor — » 

d C5 Tiger Fund— X 

d CS ECU BWM J ECU 

d CS ECU Bond 0— — ECU 

0 CS Gulden Bond A. FI 

fl CS Gulden B ond B — — F) 

rf CS Hisaono Iberia Fd a — Pta J 

d CS Hlsoano Iberia Fd B Pta 30 

d CS Prime Bond a DM 

U CS Prime Band B- DM 

rf CS Eiiruoa Bond a DM 

rf CS Euraoa Band B Of* 

rf CS Fixed I SF 7t» 1/94- 5F 

rf CS Fixed I DM Ph l/96__ _DM 
rf CS Fixed I Ecu 83/44, 1794 -ECU 

rf CS Swiss Franc Bond A SF 

rf CS Swiss Franc Bond B 5F 

rf CSGorranv Fund A DM 

rf C5 German* Fund B DM 

d CS Eura Blue Chins A .DM 

rf CS Euro Blue Chios B -?M 

d CS Shcrt-T. Bond J A * 

rf CS Short-T. Bond SB — S 

rf CS Short-T. Bond DM A DM 

d CS Shart-T. Bond DM B DM 

rf CS Monev Martet Fa »- — 5,,, 
rf CS Money Martet Fd DM — DM 

rf CS Monev Marie; Fa l C 

rf CS Monev Merkel Fd fen_Y 
rf CS Monev Marvel Fd CS — CS 
a CS Monev Mortel Fa Ecu— Eru 
rf CS Mcnrv (Adrtei Fa iF — 5F 
rf CS Money Martel Fd HFI _FI 
rf cs Monev Markei Fa Lll — Lrt iwi 


m Gala Goarantocd CL I S 87. 

m Gala GuoranleedCL II 5 

GARTMORE INDOSUE I FUNDS 31/12793 

a . 13521 46 54 24 470 
: (15214654 23 
BOND PORTFOLIOS 

d DEM Bond -DIS579 DM 6. 

rf Dlverbond DIS2-W SF 1. 

d Dollar Bond__Dls2J2 S 2. 

rf Euraoeon Bd — Ort 1 24__ Ent 1 . 

rf French Frimc Dls 1872 — FF 11 

rf Global Bond — DH224— S 2 

EQUITY PORTFOLIOS 

rf ASEAN — — J *■ 

d Asia Poolic 1 j 

d Coni menial Europe |cu I, 

d Devetaalnq Markets 5 _ 4 , 

d Franc*- — — — — —FF U 

rf Germany — ^ DM 5 

rf Intemaltanai 5 2 


RESERVE' FUNDS 

JfcdMfcf m 

5 •— y f 

L»Sm®07T4*9?m. Geneva : 41-2Z3SSS30 
» Eosl Inve stme nt Fund— S BAW 

wScnnisli world Fund 1 466XMM 

m State 5t. Amer tom . S 34897 

GENESEE FUND Ltd 

w I At Genesee Eagle— 1 130J3 

iv I Bi Genesee Short — » {S-JS 

m tC) Genesee Oooorhjnltt — 5 SAC 

w iFl Genesee Nan- Equity — 3 14175 

GEO LOGOS 

S II Strataflt BOM B Ecu HB6J4 

w II Pacific Bond B .— S F llWUJ 

GLOBAL ASSET MANAGEMENT 


GLOBAL ASSET MA 
OFFSHORE FUNDS 
II Athol SLDougkrU 


Athol SUJoUBtaSJ Of MM 44-424-476037 


OT MANAGEMENT PLC l«n7W« *7) 
fa * 7 d GiT] jlf 

2 m i&TlGtoSSTsSicmCoFd — S 27^ 

rf G T. Investment Fund J 2100 

’♦■'fl : GT K BScSStTMli 71*1 

|027 S^R^^^Bf^GEMENT^i 

IffT G UmNtS^FUGHT ^D MI^»S ( (Awr MJd 

SB SS ^/ G h^ RATE0Y feo 

_ _ a Global q "~‘ > * WS 

^ rf Global High Income Band _S 2*59 

?'■» d GIH & I Band £ 1153 

Sfrlfi rf Eura High Inc. Bond — I 2*70 

7100 d Global Equity— S 

2-S GUINNlU FLIGHT INTT. ACCUM FD 

;C-1J rf Deuhaiemark Monev dm Sgn 

S-S* rf US Dollar Manev S JjUW 

d US Dollar High Yd Eland S 2UU 

| !Hn§-n| 

HEPTAGON FUND NV (5W4155S) 

^ 2 7 Heptagon 0 LB Fund. S IBM 

lisJ >° HER^?AS5ET MANAGEMEHTLTD 

. _ Bermuda :i809|29JJDOD, Lux rfJBIAIM 6 * 61 

, - 07 Final Prices _ _ __ 

ixHemn Euraoeon Fund — Ecu mil 
.. _ m Hermes Monti American Fas 29151 

H? nt Hermes Aixm Fund— —J 3g3 

iJtA nt Hermes Emerg M* K rund-S «SX 0 

!fS m Hermes Strategies Fund — S 73*47 

’J-S m Hermes Neutral Funa S 115.B 

’■ 7Z m I Himes Global Fund S .fi®-!* 

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si ^£nissa=j ’ft® 

* 7ll] INTERNATIONAL ASSETS FUND 

n z Bd RuvaL L- 2 X« ui.etrtaouito 

INTERNATIONAL MGMT INCM*E FUND 

«e r»^;ffisr?Sir&i. T i~. ■“ 

IS Tel: 44 534 731 14 _ 

t4* rf Maximum Income Fund — £ i-i*08 

.1-25 rf Sterling MngdPtll 1 

^ S K353&aiS?=§ ijS 

| S«SRS?iSSS l ia=i IS 

s-X if Amencan Growtn 5 l'KO 

T-.'tfJ. d American Enterarise S 93*0 

“fiS d Asta Tiger Growth — 5 112SM 

d European Enterprise S J.igo 

d Global Emerging Mor*eo_S 

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d -j yss 

!L „ rf Norlh'XnerM^VVorTTintJli M« 

rf Greater China Opus S 

4M1 ITALFORTUNE INTUFUNDS ___ 

MS1 m Class A IAggr_Growm ItoLlS 703880 

tsiM w Class B (Global Eoulty) — J W 

Si? w Class C (Gtabal Bond) s I09i 

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— rf JF Far East WrntTr S MJJ 

Shi rf JF GfcbatConv. Tr 1 17"S 

DaMI d JF Hong K eng Trust S 78JB 

d JF JoaonSm-CoTr. _Y fSgxjo 

, rf JF Japan Trust— Y HDOJS 


■ Asian capmi hokuhsi s ,WJ 

iv Asian seieetlan Fd n.v— — FI 121 JB 

w DP Amer. Growth Ffl N.v._S 36.12 

w EMS Ot Wtore.F d N.V. — — S 
iv Europe Growth Fund N.V — Fl 62J8 

w Japan Diversified Fund — 5 4 C 5 J 

IV Leve l iw ed Coo Hold S 4SS 

w Tift vo Pot HOfd. N.V -5 217X3 

MERRILL LYNCH „ 

rf Dollar Asuts Parilaila S 100 

rf Prune Rate PorttoUo 1 HUB 

MERRILL LYNCH SHORT-TERM 
WORLD JNCOME TORT FOLIO ^ 

dOmB- J 8-84 

GLOMLCUrSSky BOND SERIES 
AU^ AN DOLLAR PDRT FGUG 

aS^IAN DOLLAR PORTFm.lO ” 

d Category A & if 11 

d Catenary a — is till 

CORPORATE HIGH INCOME PTFL 

a Clara A-l S 10» 

rf Class A -2 } 

d Ckra B l S 1007 

DEUTSCtfe MARX PORTFOLIO , , 

2 cSss;s==dK l!S 

EUROPEAN BOND PORTFOLIO I DM) 

rf Class A-l S 1609 

dCtanA-2 — —5 W 

rf Class B-i } 1609 

h rbwe n.a . * 1658 

EUROPEAN BOND PORTFOLIO IUSS) 

0 GlWA-1 DM 1033 

rfClmsA-2 _DM 10® 

rf Class B-I — S J0J3 

rf Claa B 2 S 1083 

POUND STERLING PORTFOLIO „ 

rf Catagam A £ 17^ 

d Category B . t 17-13 

US DOLLAR PORTFOLIO , „ 

rf Catroory A S 1*^ 

ye hfSrt FOLIO 

~ Y !S 

MULTI CURRENCY BOND PTFL __ 

dCkmA S 

rfCknsB 2240 

US FEDERAL SECURITIES PTFL 

aa ^= » » 

EQUITY / CONVERTIBLE SERIES 
BASIC VALUE PORTFOLIO 

d CtaSS A S *52 

rf Class B * 1*05 

CONVERTIBLE SECURITIES PTFL , _ 
d Class A . — 5 }*H 

GiSbAL ALLOCATION PTFL tUSH .... 


fHg *1 

w Quanturo UK Ready FunO m. 

m Quosar Inti Fund N. V— .4 217 

^Y P Sg^|NflA 212 

^^n&bdrpine^LM 5 ,W 

d MwSmtSwe M Lid srtl IS 

HbSeNTrSn^ MANAGEMENT LTD 

w New Korea Growtn Fd S 12 

n Pocttlc ArWlroge Co ___} 9 

rf Regerrf G(bl Eura Grth Fd_i 1» 

rf Reaen, Gjbl Resources 1 111 

rf Regeni EH Inn Grin Id, — s US 

d Reaen] SS Jop Grin Fd — 1 fK 

rf Reaenl GlS PacH Basin — i *N 

rf Reatm Gib, Reserve— 1 2.J 

rf Regent GW Ttaer J 

If Regent GW UKGrHi Fd — S Jr 

ta rj_ Caanlrv Wmi Fd j— I 241 

n Undervalued Assets Ser t_j 11 

tf Regent Sri Lanka Fd S II 

nt Regent Pacific Hda Fd 1 

ROB ECO GROUP 

POB 97X3000 AZ RaUerdam.131 110 2241224 

rf RG America Fund Fl ms 

d RG Europe Fund — . . Fl IM 

s 

d RG Money Plus F Fl Fl 111 

rf RG Mmv Plus F S J jn 

rf RG Manev Phis F DM DM 1M 

rf RG Money Phis fsf__— JF 10! 

nuss.-iu ,« 

■vDohMLCF RoNlSdilld8d_S 1DU 

wBaivfO LCF Ralftsch Ea— JW 
w Farce Cosh TradlttanCHF.SF 1823! 

rf Farce Cash Ootl U5D/DEM Ecu I IN 

w Letoam S 261 

vLcvhfooedCopHoidingi— 1. „4! 

g PH atoilenoe Swiss Fa 5F 1121 

g Pri equity FstEaroae Ecu in. 

h PrleauHv Fa-HtNeita— jSF 118 

b Pr equhy Fd-Lniln Am S m. 

g Prlbono Fund Ecu— Ecu 127. 

D Pri bond Fund USD S Mi 

g PrtbandFdHVEmerTWdsi 117. 

NjehtoN vemvestSA--^ m 

w US Bond Plus 1 1016 

■■Un.liwVi. -Fni (III 

ROTK5CHILD ICROUP EDMOND DE) 
OTHER FUNDS ' 

rf Asia/ Japan Exnery.-Grwlhi •- HR 

« EipHiEur Portn fnv Tst 7 F eu til! 

w Eurap Strain invesun ld_ Ecu 120. 

g Oat Igesi Global Fd General DM 189. 

b Qoltaes! Gtawl Fix Income DM 175. 

d Poclllc NlesFund S 11 

w Per mcldnft fair Growth NVS 3W 

I Setaclton Hartean — FF 8KI 


d JF PcOJIc Inc. 


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It 239916600 
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rf C5 Mane-/ /Joriiet Fd ff_ff 

rf C5 Money Wlarkel Fd Pta— Pta — 

rf L5 ivwnwv Martel Fd BEF JF S5B?SJto 

C 13 oeto-PratK A DM 

d C5 Oeka-Proiec B — DM 

a CS Nortn-Ameriean A % 

d CS Nortn-American B S 

0 CS UK Fund A — t 

J CS UK. Fimd B_ 4 

d CS France Fund A FF 

rf CS France Fund B FF 

rf C5 Furoreni OM 

d CS Ihdv Fund A LjJ Jjffl* 

a CS Italy Fund B__ Lit 23991* _ 

0 CS rumerkind* Fd A FL 

d CS NemerkjniB Ffl B FL 

UC5FF Bond A -FF 

rf CS FF Bond B FF 

rf Cj Casual jF» MOO -SF 

d C5 Caailal DM TOW — DM 

ff CS Caaital DM IV9» DM 

0 cs Cop, kh ecu a m |oi 

d CS LODUOI FF JUDO FF 

d C5 Japan Megatrend SFH_SF 
d CS Jnoon Meaowend Yen _y 

d 05 Peril Inc SFP a:B SF 

a CS Portt Bal 5FB — SF 

a cs Portt Growth 5F r sf 

d cs Pam me DM A/B DM 

d CS Parti Bal DM- DM 

rf C5 Purtt arowin DM DM 

d C5PortflncU51A/fl S I0I9J3B 

d CS Pom 381 USS -S 

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rf B DH Maiv Markeh ***— jSSJ™ 

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w MuUlcurr.Bitad JF 

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m Pocltlc Eau;rt__ __ s 1499 JZ 

BIT INVESTMENT FFM 

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DUBINA SWIECA ASSET MANAGEMENT 
Tel ■ 10091*45 M30 FO*i'* t ' MS ' 4 ®|,M4X9 

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N GAM ASEAN S 47887 

» GAM Australia i 1962 

w GAM Boston — J 362J9 

mGAM-Carulll Mlmotanka — S I04J1 

w GAM Comolned DM 4*90 

w GAM Cross-Martel— 1 IWJ4 

w GAM Euraoeon * W-g 

w GAM France ff TOasm 

iv GAM Frtmc-val- SF 2*5.70 

wGAMGAMCQ— 5 213.99 

wGAM High Yield s icg 

w GAM Hong Kang J 736« 

wGAM JOPCTl. — S 7H.to 

w GAM Money Mkts USi 5 IKK! 

dDcStertma C JMJ7 " 

a Do Swiss Franc SF lOOg 

a Do Deutsdtemorit —DM l°Xt. 

ti Do v r * 'OOTUJO 

iv GAM Alioarted MiiLFd— — 5 I^Jj 

w GAM Deterred Mltt-Fd JS 139 g * 

wGAM Emerg Mi U Mill- FdJ ]4t^ 

w GAM .W II -Europe USS 5 1J8S8 

IV GAM MIB-Etiraae DM DM 3855 

wGAM Mlh-GIcbal USI 5 17} JS 

w GAM Market Neutral- 1 '17*5 

wGAM Trading DM DM 13807 

wGAM Trading USS — S 

wGAM. Overseas- } IK-^ 

nr GAM Pacific S 82542 

w GAM Setecllon — — 1 706*5 

w GAM SmgworerMaiavsia _S TtaJa 

w GAM SF Special Band SF }jUS» 

wGAMTydte S 34}29 

WGAM US J 210* 

wGAMulinvestmentg S 8&3« 

nr GAM Value 5 ;37/« 

wGAMWh.retnom S 189.95 

w GAM WnrtdwMJe 1 »’104 

wGAM Sand USS Orfl 5 1MJ8 

w GAM Bend USS SoeCtal 5 20*3 

wGAM Bond SF SF }04 v 5 

w GAM Bond Yd Y I4>4I “ 

wGAM Bona DM — DM IIX;S 

wGAM Bondi «.II | 

w GAME Special Bond j >52.92 

it GAM Universal USS S 144** 

iv 65AM ... * 15ZJ9 

Sifiss REGiSERED FUN0541-I-422 24» 
MWileocchstrcsse in.CH ROLZancn 

d gam 1 CHI America SF 1491.99 

rf GAM (CHI Eurooe SF 101*. 

rf GAM I CHI Manalal 5F 193859 

a GAM (CHI POP he SF 288148 

SEC REGISTERED FUNDS 
IBEail 57rd SI(tft.NV l(»22Ji:-e88H2M 

w DAM Europe -* ,g-g 

w GAM Global * ITJ-K} 

wGATJ taternen-ynai -i 

wGAM Norm Amer Ko S ]»« 

wGAM Poailc Bonn —5 Wto 

IBISH REGISTERED UCITj5 
Eariitarf TrrraceJJuOHn X 353-14740430 

wGAM Americana acc D« 9j« 

w GAM Eur.WO Ace DM taa 

w GAM Orient Ace DM JgP 

wGAM Tgkre ACC__ DM 1«JB 

w GAM Total Band DM Act— DM .I3C 

w GAM Universal DM Aec — DM I90A4 

GLOBAL CAPITAL MA N A GE M E NT LTD 
Bemtuda: t8C9i 7®S*0(» Fo»:Tw*' 29Mi bo 

JWH GLOBAL STRATEGIES LTD 

w 1 Cl FLtcnciat * Metals — » ijjqj 

w IF )G7 Currency J 8*64 

w 1 H) Yen Financial. } JM.jg 

n I Ji Diversified Rst Adl_ — S JLO; 

SMfUJSS6«„-j J- 

mGS Global Currency S 1.4336 

m GS Global Eaultv— S [i.JJ 

wG5 world Bona Fund-— —A J8B9 

» GS Wgrta Income Fund — J '8* r 

GOTTEX FJJNDMAHAGEMfilfT 

w G Swap Fund Ecu '29127 

GT ASSET MANAGEMENT (IRELAND) LTD 
Tel - IMI 71-7104547 
rf GT Aston Fd A shares 
rf GT Asean Fd 3 snares 
gar asm Fung a snore* — * 
d GT Am Fund B Shares-— J jJJ* 

rf GT Asian small Ccvno A ShS ; }*' 

d GT Aston Small <^nu>B5h.S ^65 

O GT Auvraua Fd a Shares— 5 EJI 

rf GT Australia Fd S Snor«r»_S 
dGTAuitr.SrrollCoASn—J **« 

rfGTAustr.SmgHCaByi-J 
rfGT Betr* jaucr.Fd ;sh — 1 =1-1" 

rf GT Berry Japan Fd B 
a GT Bond Fd A Sucres 
rf GT Bond Fd B Snores 
d GT Dollar Fund A Sh 
rf GT Dollar Fund BSh . __ 

d GT Emerging Mt ts AW — J 2060 

d GT Etneramq MMsB » - J 
rf GT Em Mn Smell Co a oh J 
d ST Em Mkl SnW ft CoBShJ 
w&t EuroSmatiui Fd ASh-S Jr-S* 

wGT Euro Small Co Ffl BShJ 19ffl 

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rf GT Ham Kong Fd B Si»v*sS 9S®* 

0 GT nens. - *) Pnnttaxler A 5ns I..J4 

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Page 13 

ASIA/PACIFIC 


Buoyant Timeson Dry Land for Hong Kong’s Wu 


By, Patrick E. Tyler 

. New York Timet Service 


Ha t?owj;wjB rid the n$km of a . 


two-day. 


/ss^s^. w 


^Nominally, Mr. Wn has tost a public bet that the 

f, the first sapttMgfs-'- 


as lheywD.be after July' 1,1! . _ 

is to revert to Chinese cornroL 
uie nigh-wa/s potential for revenue does not step at 
the pfT-ramp& Mr, Wu has development rights to 10 
magor -interchanges along the way with more «h*n 7 

. uriDion square feet (630,000 square meters) of poten- 

But rathe grander schanecfMr. Wa'sambitioii, he ^ aud office ^wot ' 

V.™** be is several months behind sdieduk in the 
S ^i&aMe toB-hiriiway system hjgbway project that has taken more than four years to 

“So buiJdmg a dozen or morefuiKe electric- buiIdandisam^tiyprcgsxtedtocostasmach^SI.4 


"S3 


power plants under license to ilreBegnig gove rn 

^Symbolically, die coapfetiori by eariy to nrid-1994 
of the fust six-lane, 76-mOe (123-Irifometer) super- 
highway will be a major event in tarnishing the image 
of the Pftaii River Delta as a manDiactnmig corridor. 

- Though it wfll take years to repair the giant red scar 
that, soothcm China’s landscape now shows frotn the 
anmy of buBdozexs rearrangirig its topography,' Mr. 
Wu's transportation bridge wfll add to the economic 
nimbus that continues to Mlow in the region. 


bflfion, Mr, Wu has an impressive overall record in 

laying the foundations critical to sustauung southern 

China’s economic boom. 

Tbe Hong Kong pitaertydevelopment concern 
-that he heads, HopewdiEtaklmgslJxL, is listed on the 
Hong Kong Stock Exchange. By next year, the compa- 
ny, which has two coal-fired power plants operating in 
Gnangdong Province, wfll be fiffing 35 percent of the 
province’s electrical needs. 

In an analysis of the road's progress, S.G. Warburg 


Securities said in a report issued last autumn that 
delays and cost overruns could push ihe opening of its 
final segments to the end of 1994. even into early 1995. 

"Frequent press comments by Hopewell in respect 
of early romptetion and early revenue collection have 
not materialized,” the report said, adding, "The risks 
that the company has exposed itself to by the apparent 
lack of progransning and detailed budgeting are sig- 
nificant, and -it is this combination of unrealistic 
statements” arid "the huge sums erf equity involved 
which give rise to concern.’' 

These warnings notwithstanding, the capital mar' 
kets have not flinched in their support. 

With the opening of the first leg of the highway for 
the 30,000 vehicles a day crossing between Hong tang 
and China, Mr. Wu wifi have established himself as a 
prototype developer, using foreign capita] and man- 
agement know-how to attack the bottlenecks in Chi- 
na's transportation and energy industries. 

"There is no way China can get the money them- 
selves to do the job,” be said. “If I start working on 
nothing else but power generation im til the day! die. I 
still can't fulfill 10 percent of what they want” 

Largdy because he has defined a market in a devel- 
opment area critical to China's leaders. Mr. Wu. as 


much as any Hong Kong baKnesssaaa. has the confi- 
dence of top Beijing official*. 

"China never wasted '.o open up this sector, and 1 
was the first cat io crack ji in •’584.” he said, recalling 
that his final negotiations were with Li Peng, an electri- 
cal engineer by training who is cow prime minister. “1 
would say he rductantiy agreed at that time." Mr. Wu 
said. As a result, these days the contracts just keep 
coming. Thanks to growing enthusiasm in Beijing and 
the Chun fever that is railing through capital markets in 
the West, be has all the financial backing he can handle. 

He started an eight-city L'.S. fund-raising tour in Sac 
Francisco last month to' sefi $574 mEierT of stock to 
bdp finance the power plants. “By ih= rime 1 hit Denv- 
er" he said, "the stock was aS sold, so I suggested we 
forget about the Eastern dues because J had work to do, 
bur the underwriters insisted that we go through the 
motions.” 

One key to ids strategy is to make sure that his joint- 
venture partners in China, usually units of provincial 
governments, arc making as much as or more than he is. 
Another is to remove hunself from the distribution of 
power. His plants will sdi wholesale to China's disrribu- 
tion network, which w2i add its own distribution 
charae. "They' are making more than we are.” he said of 
the Chinese. "‘We get a minimum of 15 percent. If we 
don’t get that, then 1 won't bring my bulldozers in.” 




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China’s New Taxes 
Sow Confusion in 

features 


and commercial t8X,wbichhad been 
levied on rales across the board. 

"For a certain period of tmw; 
well make sure the present lewd of 
tax burdens are maintained for for- 
eign enterprises,” Zhang Zbrybng, 
deputy director trf foreign tax at the 
State Tax A dnunistratio n, said hi a 
lekphcnc interview. "We will com- 
fflder cases on an incfividual basis to 
guarantee this.” 

- In. Boring's jotnt-veattire shops: 
and hoods Monday, it was difficult 
to tell which of the price increases 
an imported §oods such as food, 
alcohol andjewdiywere a re- 
sponse to the devahtation of the 
yuan earned by its floating and 
which were the result of new taxes. 

With inflation running at more 
than 26peicentm major cities^ offi- 
cials have expressed concern about 
the effects or trying to impose too 
many major reforms too qmridy. 

■ Roaring Yuan Stays Level 

- Tbe yuan held steady in its first 
day as a floating currency on the 
Shanghai foragn-cxcbange swap 
center, news agencies reported. The 
doQar was quoted, at 8.70 yuan. 

*Tlie trade was quite normal, 
wito a drop m turnover because ifs. 
the- start, of the year;” one broker 
for a foreign bank sakL : 

- Be^ngio^paJadnal-raiecar- 
renm^M«temmik«tis£dteymBL 
The.doHar’s vtdufixrf^.TOyuari, vp- 
frdm 5-80 at tfre previous official 
rate, reflects a 33 percent dcvfflua- 
tmri'rrfttaQAwsecuiiericy. 

- Brokers had - not expected the 
curomr^ to be floated unril Clrisa 

■ opened a national foreign exdiaugie 
center, ' scheduled, far 'later this 
mbndi. ■' .fSbomherg AFP) 


Bloomberg Business New \ 

%\ BEIJING — Foreign business 
.ventures, sent reehng by Being’s 
■surprise derision tofloaztbe yuan 
- :Saturday, are also scriuobfiug to 
loope with a package tax increases 
. -that took effect at the sartw time. ' 
| To ease the taxpaxn, Beijing is- 
•sued regulations Thursday pronri*- 
■ing a full rebate for foreign vea- 
‘ turcs whose taxes rise tmdex the 
^new system Airing a five-year tran- 
•atkm period. 

* Managers of joint ventures, bow- 
,evcr. said they still mig ht have to 
’raise prices. And the impact of both 
^ the currency changes and the new 
«tax systen is far from dear. 

* Since Saturday,' foreign ventures 
’have been told they would face a 
lyatne added tax, a assumption tax 
■on luxury goods and a turnover to 
.’on services. These replace Qrinafs 
: so-called consoEdated industrial 

foreigners Fuel 
'JBong Kong Rally 

* - Bloomberg Basinas Non 

■ HONG KONG — The Hang 
£eng index smashed through the 
12.000 ritaik Monday for the fist - 
time, as intenatknal investors 
pcanedinip thejmdsxt^ . 

5 The bluesarip mdiac jna^edT 
198.1 pointB, W-IJ56 paamt, tor 


Rothman# Units Tumble 

Malmaan Selbad£ Hammers Stocks 


Bloomberg Basmca News 

KUALA LUMPUR —Shares 
<rf Rothmans Inlenational PLCs 
Asian units piunged Monday aft- 
er two large Mal^sian stotihold- 
ere zgected a jrfan to combine the 
tobacco companies into a single 
Hong Kong-based bittiness. 

Rothmans executives in Hong 
Kong srid they hoped to meet 
this week with leading share- 
holders of Rothmans of Pall 
Mall (Malaysia) Bbd. to see if a 
new plan could be worked out 

The original plan, ngseted Fri- 
day, would have merged Roth- 
mans units in Malaysia, Singa- 
pore and northeast Asia into a 


Om«e market. The company’s 
shares would have been fixted an 
the Kraia Lumpur, Singapore 
and Hong Kong exchanges. 


Rejection of the plan hit shares 
in the existing companies. On the 
Kuala L fl m pnr Stock Exchange. 
Rothmans of PaB Mail (Malay- 
sia) fdl 4,60 ringgit (SI. 71), to 
21.40 ringgit; in Singapore, Roth- 
mans Industries Ltd. dropped 
1.15 Singapore dollars (72 UK 
cents), to 8.55 dollars. 

The proposed merger was 
killed by the votes of ifemodalan 
Naskmal Bbd. a government in- 
vestment company, and 
Tabling Angkatan Tenrera, 
armed forces pension fund. 

Abdul Khalid Ibrahim, chief 
executive officer of Pennodalan 
National, which indirectly owns 
17.87 percent of Rothmans Ma- 
laysia, said Satur day tha t the 
company had voted against the 
plan because it would have shift- 
ed investment out of Malaysia 


and reduced Malaysian control. 

“We derided that the best thing 
to do was to react the move, and 
it is now up to Rothmans Interna- 
tional to come up with a deal that 
wfll benefit alL” he said. 

Aug Kok Heng, senior research 
manager at TA Securities, said: 
"If Rothmans had talked to them 
properly, this thing could hove 
been avoided.” 

"When you operate in Malay- 
sia, you ought to consult with the 
authority before you come out 
with vour proposal You need 
their support anyway, so bow 
can you not talk with them?” 

Rothmans of Pall Mall (Malay- 
sia), which is 50 percent-owned 
by Rothmans International, ac- 
counts for most of the British to- 
bacco company’s profit in Asia. 


Jakarta Offers Oil Incentives 


“This kind of momentmnTS pisl 
going to keep on going. January is 
gorngiobeagoodjroonih.Wefllsee 
13,000 before Chinese New Year.” 

sales director al 
i brokerages.,, ‘ 



. Reuters 

JAKARTA — Indonesia an- 
nounced .incentives Monday for oil 
exploration in remote and high-risk 
areas of the archipelago to help 
boost reserves and stave riff the day 
it becomes an oil importer. 

■ The central plank of the long- 
awaited incentives was an hmnedt- 
ate Increase to 35 percent from 20 
percent ra the bO ootpiit share for 
contractors working in frontier 
zones under the umbrella of Perta- 
xmna. the state-run oil company. 

Fabal Abda’oc, president of Pcr- 
taimha, said he also expected that 
for the tS the company boys 
contractors would be raised 


to 25 percent from 15 percent of 
official Indonesian crude prices af- 
ter five years of production at a 
frontier she. 

"1 think this package will attract 
more oil investors to Indonesia,” 
said Mr. Abda’oe. 

He said the incentives were de- 
signed to delay, the pant when In- 
donesia, which now produces 
about U ntiffian bands per day of 
crude oil and condensates, be- 
comes a net oil importer. 

The government has said it 
Bright have to start importing oil 
around the turn of the century if 
flesh reserves were not found. For- 
eign oil executives had said that 


finds in high-risk areas such as Iri- 
an Java, which borders Papua New 
Guinea, could delay the need to 
import oil at least until 2010. 

Mr. Abda’oe said current recov- 
erable oil reserves in Indonesia, the 
world's largest exporter of liquefied 
natural gas and a member of the 
Organization of Petroleum Export- 
ing Countries. were around 11 bil- 
Kon barrels. 

Most of the reserves are in easily 
readied areas in and around the 
Tnain islands of Java and Sumatra. 

Executives trf foreign dl cotnpa- 
nies working in Indonesia welcomed 
the base outline of the package, 
although they said 
details from 


Singapore 
Expected to 
Grow 7 % 


Rnten 

SINGAPORE — Singapore 
economists are predicting 1994 
gross domestic product growth of 
around 7 percent after a stock mar- 
ket boom last year fueled a 9.8 
percent rise in die economy. 

Growth in 1994 is expected to be 
more broad-based and although 
stock market turnover *ii! not see a 
fivefold jump as it did in 1993. 
private consumption and invest- 
ment growth will be reasonably 
strong, they’ say. 

“If you ignore the stock market, 
you will see growth continuing. led 
"by manufacturing.” said Paul Schv- 
myck, economist ax Hcarc Govett 
Singapore. 

Prime Minister Gob Chok Tong 
announced in his New Year’s Day 
national address chat the Singapore 
economy grew at an annual rate of 
9.8 percent in 1993 — faster than 
the 8.8 pccent private economists 
had expected and far faster than 
the 5.8 percent increase in 1992. 

In 1993, productivity growth 
outpaced wage increases for the 
first time in five years, Mr. Goh 
said. He said Singapore's economy 
would grow between 6 percent and 
8 percent in 1994. 

Productivity figures for 1993 are 
not yet available but third-quarter 
figures put productivity growth at 
5.2 percent, compared with 7 5 per- 
cent in the second quarter. 

■ Ramos Sees Growth 

President Fidel V. Ramos said 
Monday that the Philippines may 
achieve lasting political peace in 
1994. and be predicted the econo- 
my would grow by 4.5 percent dur- 
ing the year. Reuters reported from 
Manila. 


[I Investor’s Asia "1! 

Kong Kong 
Hang Seng 

Singapore 

Sirarts Times 

Tokyo 

Nikkei 225 



f SWi — 

-P 



uSDD 

1 m 

-f- 

3MX' ^ 


!3a ®' IA. 

Li 


— — ■] 
1E®0 


tfffi -- l 



ITSlfVi 

it- 


:3wr-- 



r 

'"■A'SOKDJ ““'A'SGND J' '""i'S'Oli'O J' ' 

. 1993 1894 1993 1994 1993 1984 

Exchange index Monday Prev. % 

Close Ctese Change 

Hong Kong Hang Seng 12JM6.40 11.863. SO *1.67 

Singapore 

Straits Times 

2 A 41 S 3 

2.425.68 

40.65 

Sydney 

AS Ordinaries 

Closed 

2,173.60 

- 

Tokyo 

N3ckai 225 

Closed 

17.4 17.24 

- 

| Kuala Lumpur Composite 

1^S8 jS 5 

1.275.32 

♦1.06 

Bangkok 

SET 

Ctoted 

t. 682.85 

- 

Seoul 

Con^tosito Stock 

679.32 

6S6.?8 

+1.52 

Ta ipei 

Wetted Price 

Closed 

5,07056 

- 

Manila 

Ccrnposite 

3^71J51 

3.196.08 

+2.36 

Jakarta 

Slock Index 

589.55 

588 77 

+0.15 

New Zeeland 

NZSE-40 

Closed 

2,1d3.C7 

- 

Bombay 

Nebcnal Index 

1,68633 

1,613.64 

+4.50 

Sources: Reuters, AFP 


IiL-coasoiul HenU Tnb-jns 

Very briefly: 


• Hong Koog announced plans to set up a government-owned corpora- 
tion called Airport Carp, that will finish building and will then manage 
the Chek Lap Kck airport. 

■ Taiwan has set a deadline for June for the privatization of three state- 
run companies — Taiwan Madmen Manufacturing Carp-, BES Engi- 
neering Corp. and China Petrochemical Development Corp. — as the first 
of 10 companies it plans to offer to the public. 

■ Malaysia's central bank increased the statutory reserve requirement of 
financial institutions by one percentage point, to 9.5 percent, to mop up 
S600 million in liquidity. 

• The Industrial Bank of Japan Lid. will absorb charges of 300 billion yen 
(S268 billion 1 over the next three years against nonperforming loans 
totaling 800 billion yen. the Nihon Keizai Shimbun reported. 

■ South Korea sold a record 207 Bullion automobiles in 1993. up 21.3 
percent from last year. 

• Hongkong Bank Malaysia Bhd., a unit of Hongkong £ 

Banking Corp*, began operations as a bank incorporated in Malaysia 
ruled out any plans of selling Its equity to local shareholders. 

• South Korea will partially open its domestic bond market to direct 
foreign investment this year as pan of a financial liberalization program. 

■ China, concerned that state assets are being sold off at bargain prices, 

has ordered a temporary ban on the sale of state housing, according to the 
Workers' Daily. AFP. AFX. UHjtP 


CURRENCY AND CAPITAL M ARKET SERVICES 


vvftiK* 

W 


Currency Management corporation Plc 
W inchester Boose. 77 London Will - London EC2M 5ND 
TeL 071-382 9745 Fax: 071-382 9487 


FOREIGN EXCHANGE & GOLD 


24 Hoar London Dealing; Desk 
Competitive Rates & Daily Fax Sheet 
CaU for furUter information & brochure 


' Help! Which markets should 1 invest in?” 

Gooo quei!Jc>n - (or perspective onolysis ond onswcuj you should 
road FuUcrMoney ■ the global strategy inveslmcn) Icllfi. 
Thousands do - v/hy sboddn t you? 

Call Kyla Phillips to; a tam'plo issuo (orico only) at Chwl Analysis lid. 7 Swallow 
Slfcel, London. \VM? 7HD, UK tel: tondon 71 - 47.9 4961 (07 I in VK) or 

Fa.: 71 - 439 4964. . JiMSS* 


For further details 
tut bow to place your listing contact: 
PATRICK FALCONER in London 
TeL: (44) 71 836 48 02. 

Fax: (44) 71 240 2254 


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Page 14 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY 4, 1994 


SPORTS 



OT Thrillers Spice Final Weekend of NFL Season 

Raiders Slip Into Playoffs 




ric< 


Blit Dolphins and Jets Fail 

ThrAssonved Press Beuis gaining 146 yards,givir]g him 

The new vear meant a new brand 1.429, second in the league loEm- 


The Associated Pros 

The new year mean i a new brand 
of NFL football: exciting, mean- 
ingful and filled witfa promise for 
the playoffs. 

Throughout the 1993 season, 
teams were criticized for dull, con- 
servative games, with a heavy em- 
phasis on zone defenses and field 
goals. On the final weekend of the 


mitt Smith. Bettis carried a dub- 
record 39 times for the Rams (5-1 1 ) 
against (be Bears (7-9; and fell 57 
yards short of Smith. 

Bettis then talked about improv- 
ing. ‘Tm going to uy to get a little 
quicker laterally, and try to be able 
Lo stay on my feet better. HI do 


schedule and the first Sunday of some drills and work on that." aid 
1994, the NFL couldn't have asked Bettis, who had the sixth highest 


for more drama, 
to go into overtime for a victory 

ow the Giants that gave the de- .tSSS 8-8 ^ 

fending Super Bowl champions l*L a 

home field for the NFCplavoffs. ft. NFJ-- 

The Giants (11-5) must play a wild- 

^ ROUNDUP “This has been a year of whai-ifs 

. , ... and disappointments,” coracrback 

card game at home against Mmne- j D j 


rushing total for an NFL rookie. 


NFL ROUNDUP 


sou next Sunday- Cmcumau (3-13) gels the first 

New England also went mro ex- jn the 1994 draft 
tra time before handing Miami a 
fifth consecutive defeat on Drew Chargers 32. Bucca 


Bledsoe's fourth TD pass of the 
game. When the Los Angeles Raid- 
ers edged Denver in, yes. overtime, 
later in the day, the Dolphins were 
gone from the playoffs scene. And 
the Raiders, who rallied Tran a 17- 
point bole and tied the Broncos on 
the final play of regulation, were in. 

Denver will be back at the Los 
Angeles Coliseum next Sunday for 
an AFC wild-card game. 

Detroit beat Green Bay to win 
iheNFC Central — and the right to 
be host to the Packers again Satur- 
day in the playoffs. 

Buffalo secured home field 
throughout the AFC playoffs with 
a victory at Indianapolis! The Bills 
( 12-4) and Houston, which won its 
last II after a 1-4 start, and 
knocked the New York Jets out of 
the playoffs Sunday night, have a 
bye next weekend. 

So do D allas and San Francisco, 
the NFC West titlist, which was at 
home against Philadelphia on 
Monday night 

Pittsburgh earned the final AFC 
slot when it beat Cleveland and the 
Jets lost Pittsburgh will be at AFC 
West winner Kansas City on Satur- 
day. 

Raiders 33, Broncos 30: In Los 
Angeles, Jeff Jaeger’s 47-yard field 
goal in overtime won it for the 
Raiders (10-6;. 

They had tied it on a 4-yard pass 
from Jeff Hostetler to Alexander 
Wright as rime ran out in the fourth 
quarter, and Jaeger's conversion. 
Denver’s Jason Elam missed a 40- 


Chargers 32. Buccaneers 17: In 
Tampa, Florida, John Carney 
kicked four field goals for Son Die- 
go (8-8). which won the AFC West 
m 1992 but was inconsistent this 
season. Duane Young and Natrone 
Means scored touchdowns set up 
by interceptions and Anthony 
MilleT had seven catches for 119 
yards and a score. 

Tampa Bay (5-11) has lost at 
least 10 games for 11 straight sea- 
sons. 



Above and Beyond 

With a Badly Hurt Shoulder, 
He Paced Cowboys’ Victory 


i; 

- 


By Michael Wflbon 

Washington Past Strike 

EAST RUTHERFORD, New Jersey -r- He carried fee baR-wffe one 
arm,' his left. Between plays, tie held, fee right ami stiff andagainst his 


pi:- 


Emmitt Smith of Dallas absorbing a tackle by New York safety Myron Guyton (29) in the second quarter of fee Cowboys' 1W3 vktwyT 


Rushing Title Is 3 d in a Row for Dallas Star 


Min earlier games, reported in some 
Monday editions: 


Cowboys 16, Giants 13: In East 
Rutherford, New Jersey, the Cow- 


7 he Associated Pros 

Emmi tt Smith won his third con- 
secutive rushing title and Sterling 
Sharpe surpassed the record he set 
the previous season for receptions 


individual honors were settled in 
the NFL on Sunday. 


Green Bay's Sharpe had six re- 
ceptions Sunday, giving him 112 


Smith rushed for 1,486 yards to for the year, four more than be had 
at out rookie Jerome Bettis of fee in 1 992. 


boys blew a 13-0 lead, but got a on the final weekend of the NFL 
break when fee Giants seemed to season- 


yard field goal in overtime. Then 
LA went 49 yards on seven plays to 


LA went 49 yards on seven plays to 
Jaeger's fourth field goal of the 
game. 

71m Brown had 1 1 receptions for 
173 yards and two TDs. 

OOers 24, Jets 0: In Houston, 


play for a tie at the end of regula- 
tion. David Treadwell’.- 31-yard 
field goal tied it with 10 seconds 
left, but Eddie Murray's 41-yarder 
in overtime won it. 

Patriots 33, Dolphins 27: In Fox- 
boro, Massachusetts, fee Dolphins 
rallied in fee second half and 
forced overtime when Pete Stoyan- 
ovich kicked a 24-yard field goal 
wife six seconds left. 

Bui Bledsoe connected on a 36- 
yarder to Michael Timpano to win 
it. The quarterback was 27-for-43 
for 329 yards. 

Lions 30, Packers 20: In Poatiac, 
Michigan, where fee teams play 
again next week, the Lions won 
wife Erik Kramer and without Bar- 
ry Sanders to win fee NFC Central. 
Kramer threw an 8-yard, fourth- 
quarter touchdown pass to Rodney 
Holman, and fee injured Sanders' 


With only Monday {right's game 
between Philadelphia and San 
Francisco remaining, most of fee 


beat out rookie Jerome Bettis of fee in I 
Rams. The Cowboys’ star bad 168 
yards on Sunday to join Steve Van S 
Buren, Earl Campbell and Jim jeai 
Brown as the only players with hea 
three straight rushing crowns. 
Brown won fee title eight of nine T 
years. ya« 


San Francisco’ Jerry Rice led fee 
league wife 1,450 receiving yards 
heading into Monday’s game. 


John El way of Denver had 4,030 
yards passing, with the 4!ters' Steve 


Something called fee AC joint. Whatever its called. It bmt. 1 
Bighf-fr q n riedi t»* h«d 'nn ch oice bat to cany fee ballwitbhis left. On 
every tackle, even with 270-poond (122-kflogntm) mashe rs oa him, he 
tried to maneuver his body to fall on the leftside, not fee right . He could 
not block anybody, so he went into pass routes and tried to puBtiwbaB 
into his chest with the one good arm. ... 

On th e f fo al drivftpf the pme, a 12-play march in overtime of a pivotal 
and , brutal wm against a stu bborn and resourceful arch-rival, he 

touched fee fell nine times. 

Every rime fee camera zoomed in tight, his face wore fee contorted 
scowl of a wnm in unendurable pain. And after every play,, his teammates 
would ask: “Can - you *waV» u?” And F-nwiitt Smith of the Dallas 
Cowboys would lie and say; *Txn OJG, just help me up.” 

Help him up? The Cowboys should carry him around and feed him 
grapes like adoring servants, after whathc did Sunday at Giants Sta d i um , 
in nru> nf th* rfarnarii^ pro fessional football games you’ll ever see. 

We wont even dwell cm the fact that be rushed for 168 yards and won 
fee NFL rushing title for the tlrird consecutive year. Whar really counted 
is that he carried 32 times, caught 10 passes, and was so dose to being 
single-handedly responsible for the Cowboys’ 16-13 victoiy over the 
(Hants ifs scary. 

Do we really need to wait for votes to be tabulated before we lmow 
_ F.mmirt Smith is the most valuable player in fee NFL? 

... ^ D« EnMnmJAexx ftaooiw Joe Brodsky, who coaches the Cowboys’ running backs, got Snrife oc< 

™ (JOfwoys 16-13 victory, the early in the third quarter and tried to talk hwn out of the 

lineup. Players would ask Smith if he wanted oetiSmith would reply he 
sy wanted a week off, wh»ch could be acoompKsbed onljr by beating the 

S wf'Ql* Giants to win the NFC East and getting fee home-field advantage 

^ R'dAl. throughout fee playoffc. 

“Tve never seen anything Hke H and Tm glad 1 was on the field wife 
Young at 3,858 heading into the W ® ,(xnsc 1 probably never will again," said Michael Irvin, the altpno 
Eagles game. wide receiver. “A football player's mentality is to get up no matter how 

Jeff Javier of the Raiderescmed “But at some point, when ifs beyond bad, somebody convince* you to 
15 points against Denver on four goto the addine, tells you, “Hey, there’s too nmch football left and well 
field goals Sunday and three extra you down fee road’ I wanted to teffEmmitt that today, I realty fed. 
points, giving him the saving But I couldn’t I told him mice, “Emmitt we need you.* And he said, 
crown at 132. "Then bdp me up and get in the htufafie.*” • 

Nate Odomes of Buffalo and En- The Cowboys, nnargnabty, are not a championship team without 
gene Robinson of Seattle tied for Emmi tt Smith. Borderline playoff team, maybe not eveathat : 




iSorf 


Fotft 




j;* - -■ 






crown at 132. “Then bdp me up and get 

Nate Odomes of Buffalo and Eu- The Cowboys, unargna 
gene Robinson of Seattle tied for Emmitt Smith. Borderline 
fee interceptions lead wife nine. Snrife was locked in a sal 


Snrife was locked in a salary dispute and missed fee first two games this 
season, and the Cowboys went 0-1 He played one play against Atlanta 
because of an injured leg, and fee Cowboys lost that one. In a 12-4 season. 


One Bleeping Match Is Too Much 


fee Cowboys tost only once when Smith played the whole game. 
If Smith has to come out of the game, the Giants win, it’s feat 


1 

121!®-.. I. - 

I - 

****?■■- •• 
VL ••• 

[slu^' 

; 

■ -j 




replacement, Eric Lynch, had 1 15 
yards and two TDs. The Lions (10- 
6) were in first place for an entire- 
season for the first time since 1954. 


Cody Carlson, subbing for the in- 
jured Warren Moon, threw for two 


jured Warren Moon, threw for two 
touchdowns and Gary Brown ran 
for one for Houston. Brown gained 
85 yards to bring his season total to 
l,0b2 yards, despite starting just 


right games. 

The Jets (8-8) would have made 
the playoffs wife a win. But they 
gained just 169 yards. 

Rams 20, Bears 6: in Anaheim. 
California, an impressive rookie 
season came to an end with Jerome 


Steders 16, Browns 9: In Pitts- 
burgh, the Steders (9>7) won on 
three Geld goals by Gary Anderson 
and Eric Green’s 14-yard TD re- 
ception. Then they had to wait for 
the Dolphins and Jets ro lose to 
qualify for fee playofTs. 

Cardinals 27, Falcons l(k In At- 
lanta, Steve Beueriem completed 
27 of 33 passes for 278 yards and 
three touchdowns. Rookie Ron 
Moons, who didn't start the Cardi- 
nals’ lust five games, gained 96 
yards for 1,018 for fee season. 


Compiled by Our Staff From Ditpaidio 

PERTH, Australia — Australian officials 
threatened Monday to pull the plug on ten- 
nis’s computerized line-call experiment at the 
Hopman Cup after the system malfunctioned 
because of magnesium in a player's racket. 

The quarterfinal between Australia's Wal- 
ly M astir and France's Cedric Pioline was 
disrupted on several occasions by rogue 
biceps from fee coonside machine, later 
blamed on Holme's old-fashioned racket, 
which contains magnesium. 

The system uses sensors installed beneath 
the court surface that ream 10 iron filings in 
the ball — the flight of which is tracked by a 
computer to its prerise landing position. 

Hopman Cup organizers had been assured 
no outride metallic object could activate fee 
system and tournament referee Peter Bel- 
lenger warned; “If there are any future prob- 
lems, we would have to close it down.” 

The developers of fee Tennis Electronic 
Lines, or TEL. system insist Pioline’s racket 
is so unusual there is no danger of future 
malfunctions. 

But they have already suffered setbacks 
during tests at the U.S. and Australian 
Opens, blamed on players' shoes and extreme 
weather conditions respectively, and Hop- 
man Cup director Paul McNamee hinted his 
patience was wearing thin. 


“We believe this is an isolated incident bnt 
TEL must solve it,” he said. “There is no way 
this can happen again without catastrophic 
consequences for them. The integrity of this 
tournament cannot be damaged” 

Masur, who beat Pioline. 7-5, 6-4, was far 
from happy. 

“I thought it really disrupted the match, 
almost 10 the point of being absurd,” he said. 

Pioline, who beat Masur in last year's U.S. 
Open semifinal, was able to see the funny 
ride, joking that fee machine had gone off 
because be was “an iron man.” 

Most top players agree fee accuracy of the 
machine is impressive when it works. 

The use of the system reduces on-court, 
officials from 1 1 to three; The only officials 
on court at the Hopman Cup are the umpire, 
net-cord judge and foot-fault judge. 

But reservations persist about fee cost of 
installing the system worldwide, fee range of 
fee magnetic field on the baseline and fee 
added responsibilities for umpires who oper- 
ate a hand-held computer key-pad. 

The controversy deflected attention from a 
remarkable performance by Masur's team- 
mate, Nicole Provis, against world No. 18 
Nathalie Tauziat, which set Australia on the 
road 10 a 3-0 win. 

Provis trailed by a set and 5-2 before claw- 
ing her way back 10 win fee longest match of 


fee tournament, 4-6. 7-6, 6-2, in 2 hours 14 
minutes. 

Australia now meets fee winners at Tues- 
day’s quarterfinal between Switzerland and 
the top-seeded Czech Republic. 

The line-call system behaved itself during 
the evening session as unseeded Austria beat 
Spain to secure a semifinal against either 
Germany or the United States. 

Judith Wiesner defeated world No. 4 Con- 
du ta Martinez in straight sets and Alex An- 
toni tsch then recovered from a set down to 
beat EnriHo Sanchez, 3-6, 6-4, 6-3. 

(Reuters, AP) 

■ Lendl 'Won’t Retire Yet • 

Ivan Lendl said Monday he has shelved 


any plans of retirement from top-level tennis 
until the end of this year, Rouen reported. 

The 33-year-old Lendl, playing on fee USL 
team for fee first time at the Hopman Cup, 
said be felt happier about his game after a 
seven-week winter break from the arrant 
Tm definitely giving myself the whole 
year,” said Lendl, who had a dismal 1993 
with first-round defeats at the Australian, 
French and UJS. Opens. 

He is now ranked 19th in the world and has 
not won a Grand Slam title since beating 
Stefan Edbergin fee Australian Open final at 
Melbourne four years ago. 


If Smith has to come out of the game, the Giants win, Ifs feat ample. 
With Smith at full strength, the Cowboys took a 13-0 lead because they 
called his number every play. The gameplan called for him to cany on 90 
percent of the running plays anyway. Hus. the Giants decided to play a 
two-deep zone, effectively removing Irvin and Alvin .Harper from fee 
game and daring fee Cowboys to beat than with one man. Smith. 

On the drive in which fee Cowboys took a 10-0 kad^Smith handled fee 
ball 8 of 10 plays, mcTnding tire 5-yard touchdown reception. It was his 
46-yard run — the tackle at fee end erf the play resuhedra fee shoulder 
separation — that led to the field goal for a 13-0 lead. ■ ? ..• 

You think it was a camddence that the Giants started tfarir fabukkia 
comeback while Smith was in and out of the lineup? It wasn’t Instead of 
third-down conversions, Troy Aflanan found. a pass being batted down, a 
recover bring stopped abort erf fee first-down marker. Smith would have 
t aken cane of afl that. . - ^ . 

On plays where Smith would have' picked up a blitzing linebacker, 
Aikman was now being dumped. They padded up the shoulder, wrapped ' 
it in an Ace bandage, put tire shoulder pads bade on and held their 4 
breaths. •••_•• 

OIL, football players play wife pain aQ fee time. Ronnie Lott once 
ordered a trainer to cut fee tip of ms pinkie off rather than come out of 
tire game People have played with broken legs and arms. Most of the 
time Wre talking about defensive players or linemen, not tunaing hades. 
Emmitt Smith, remember, has to take ahandoff and run with the football 
or catch it, then absorb hits instead <rf doling them onL 
The bottom line was dear to ewaybody ou tire visiting riddixre. When 
Smith carries 20 times or more the Cowboys are 38-1. When he rushes for 
100 yards or more, the Cowboys are 28-1. "So Iftad to tofcrateii and deal 
wife it,” Smith decided. “Every time I carried tire ball, and every time I 
came off tire field I was reaDy hurting. I’d say, ‘Yeah, Tm all right,’ lying” 
On Ins last big play, a 10-yard gain to fee 24 which would set up toe41- 
yard, game-winning field goaL Smith stiff-armed » Giants tamer. With 
his bad wing, the right one. Instinct. It was already swollen, the range of 
motion was limited. 

Somebody asked Smith whether be heard it separate. “I don’t know,” 
Ire said. Td been bearing bones crack all day.” 


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DOONESBURY 


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By Paul Taylor 


die Wicket, With Time Out for Tea and Sympathy 


<b, 

its 


"iTh 52 * 

, *“-■ 5S&. 

• ^T; 

- -i . . 

.v 5 ^ 


.f-aasa^ 

V'CiS. 

:. :r ?*iv 


;. have wwc- W.jQCTSiiJft fiwi; ^Wny '. thdroranfag of lif* Bo* invoJve osag a other important! 
. : “^ 1 ” uxn ^^ ef ^ ea ' * 'j ' ‘ '; wooden stick » strike a road wiB, half of lie 20th 

1 playe4tcff Jttttm cffrarigD tom- ‘ 
ondents a giwwt the British Aswuu- 
s JO ttt a leafy snteflfcan Johannes- 
Aia-daoscio 


JOHANNESBURG ^-WhMlstrm- 

tw to the wtduajust after tea, cm s& 
was on 9M« the toss of three; chasm* 
aannpretgifeusJd] . WtfdheenhirSI" 

a useful ratings, Sevoi wjck«^ were in" theanibassados's ak were nasal >11- 
12 oven were, still to be : fi^.atsd dK'cs^&m wantted^ S hs^sx 
bowfcd, so there wasnoijcedtoacceJer- i.,.Y^and,sirari whidreytffiwed froroihe 
ate the nm rate. ‘ . ; ‘ ^abhoase fer- finting Wfr 

Did any — any*. — a£otn American -■ fa the distance, polci ponies went 
readers nndemand awonLof-ihai? ' *h«®gh their daily woikcut Kansas this 

■ StoStfV-^ . r •■-- i- • 

••: i Aspect; I was invited, because. Td 
mentioned a few weeks Wore to al&L- 

Kfriutcfclhatl fauad*rrj*Zt n am^fa g in 
: the game of cric*tt*.wbjdi is ontderi- 
Strai afi the rime here. Re was astonished. 
He T dnevo-fflet a Yank wfeo’d made such 


's a swishy game pbyecThystft 
hmea m km* white pants and fan-- 
" ny Soppy hate-We" Yank&.doa’t realize 
_ Jrs ametapbor farlife.-£{ : •■'- - 

. Go ahead. snkk. I,to6, used lotfimk 

'cricket was g»d for nothing except ex- 
plaining htwBritam Sits’ empire; ■'* g Sy --, .. . . . 

(Too many breaks for te*T Vest Ameraww don’t “get" cradtet 

mjl 3 , • . - •' •-'■• ■ . jmnsc.w tmH'lieb corannor it to 

.for tfcmst tone the other day, and I- juries invite lynenT I jfiaiw ifak 
_ * ' "V " ~ rr ■ i ' ■ ' - •-yte -. 


• thrown aryon wfch nuhcc, into ihe | 
efi Grid anayed with oppostkm f 
as. Beyond flat,- it's chalk and cheese. 
Americans play baseball u> win (it’s 


sm a fewboms: proper i 
fivc dsys. Our players aigue with the 
umpire; theirs tall themselves out to 
; sure the umpire the grid. Out pitcher is 
their bowter. Our ball is tbeir no ball 
. What to us are fool tips can for them be 
home'rmis (or tiKff ict^h equivalent, 
winch are boundaries). Our batters stay 
at the plate for a minute or two; theiis 
can stay at tie plate — which they call 
the crease — for five hours, 10 hours, a 
couple of days. And so on. 


erkket lias be^uu to lose its grip, 
five-day game is giving way to the one* 
day gazne, for ihe same reason every 


revolution of the second 
century has occurred. 

Television. 

One-day cricket is a bit like baseball. 
At the e$d of the day. there's a winner 
and a loser. There's occasionally even 
drama, as when a game comes down to 
the last bah bonded. 1 saw it happen 
once, right here on television. 

We jn&ved a one-day fixture, and my 
side fielded first. 1 bandied all the 
chances. I got cleanly, and even hit ibe 
stumps from square leg. Trust me, this is 
a notable achievement Of course, I had 
an unfair advantage. I'm American. I 
can throw a ball. Most cricket players 
never learn. The rules of their game re- 
stria the act of bowling (pitching) to an 
awkward windmill delivery, and it 
screws up the rest of their' throwing 
something awfhL 

1 abo did a short spd? of bowling, and 
took a wicket {This, too, is a pretty big 
deal.) But this one was taimed Try as I 


might 1 never could manage to keep my 
elbow from breaking. My British oppo- 
nents could see this, but with a few 
tolerant mumbles about preserving “the 
special relationship.” they turned the 
other cheek. 

You've got to hand i! to the Brits. 
They invent this quirky game in which 
both the bowling and baiting are unnat- 
ural physical acts — and yet it has an 
obsessive following in Asia,' Africa. Aus- 
tralia and pans of the Americas. 

The secret? I think it's the tea. Tea is 
marker of time and place, an enforcer Of 
order and custom. What have cricket 
players done every afternoon 21 4 since 
tune uzuDemoriid. no mane what conti- 
nent they’re on? Why, they break for tea. 
I sometimes play tennis era Saturdays at 
a dub here, and we also stop at 4 each 
afternoon fra tea. My wife takes a jewel* 

ry- m strin g <^g«_ Sam i- thing. This drives 
us nuts. Obviously, though, it works in 
places where mother England left a 


deeper imprint. It connects each to the 
other, 10 the empire, to the crown. 

But 1 digress. There is still the matter 
of the batting. 

I need to start by pointing out that l 
consider myself a pretty good baseball 
hitter, and ibis bit of hubris may explain 
why. as a batsman. I proceeded to ignore 
all my own good advice about not con- 
fusing cricket with baseball. The cricket 
bat is so big. The ball comes in so slowly 
(even if it does bounce). I thought: fm 
not going to play silly defensive cricket 
shots. I'm going to rip the baiL Knock it 
for a four, then knock it for a six. then 

The First delivery, I was clean bowled. 
Out for a royal duck! This means that 1 
missed the ball completely with my 
roundhouse baseball swing, and. worse, 
the ball proceeded to knock over my 
undefended stumps. What ignominy ! 
Baseball knows no lows quite so low. ' 


The ever-diplozsaiic Brits, seeing my 
pain, invoked a no-first-baB-out rule. I 
wasn't sure whether to be relieved or 
embarrassed, but at least 2 had 2 second 
chance. 

I took a silly little defensive cricket 
swing at the next ball and stroked a weak 
single. That's all I needed Obviously, 
the first ball had been a fluke! 

On the next delivery, I look a mighty 
baseball swing once again — and was 
dean bowled again! 

As 1 write this now. several days later. 
1 remain inconsolable. Some guys bat for 
two days. I. a good hitter, was out in 90 
seconds Twice. 

But as 1 mentioned, at least cricket 
serves up some life lessons. Here are 
three. Pride corneih before a duck. Flop- 
py hats keep the sun off the back of your 
neck (mine's burned 10 a crisp). And 
Riesling makes a lovely lunch wine, 
doesn’t it? 


A Sore Foot 
Worries the 
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Sixers Stop Nuggets’ Streaks 


The Associated Ptm 

> When Donald WShanri'wK xn-v 
jnred, Dante CMabria got Jus 
^ *S.- chance. MarshalFs Thundering 

”• _ >Herd couldn’t ctdl the ^Terence. 

- ’ Calabria, a sm*bmMeguaid, hit 
B of 10 from the fidd in scoring 

^■careeap-hfab 20 points and leafing 
No. 2 North Carolina over Mar- 

* 116-62, on Sunday. 
c ~ Wnfianu, ajtcQ^.wfiohasbeen 

averagmg 20 pomts a game, is nurs- 
ing a sore left foot. - 1 

v “Fm worried,"said North Caro- ... 

•1 hna coadi Dean Smith: "The doo-- - 
j.tors said it could be theJ5fth meta-- : 

7, tarsal, yvhtdi -wofid be , the . worst 
scenario, or it could be tenfinhis, 
would be the best." ■; 

North Cartfina Hamits Aflaatio , 

.-.Coast Conference season Wedaes- 
-day agmrist Nor&Catfofca Stare 

* CaiwMia^ wn one of, six 
in douWc figures for the Ihr Heels.-' 

.V No. 4 Tenqde d7, St Jbsesfa^54: 

■^-In Philaddphia,^ •- Aaron McKie - 

- 'Scored 24 points and grabbed'nine 
« rebounds as the Oris (H : 1-0) 

•‘ posted an Atlanta; 10 victory. ..; 

. No. faPm^M ^ Ste Fhmdsco 
7 81: luDalyaty, Cshfomia, Oeno 
TRolmtsdn scored 32 pants, sap 
•'passing 1,000 points foa-hiscarBez,- 
and grabbed )4 rdwid>ds to rally 
. "Purdue. Ihe Bcsknnakas’ . D-0 

-start is dtevtafa since 15UI-J2 Tei^ of ^DefittftPlslom,ri^battfcs for tire bafliritbVeniefl Coles of MfiarafiiriiigStBiday’s game, woo by the Heat, 93-3S. 


The -4 tt nnjlfjf ptess 

Even once in a while there is an 
NBA game that defies logic. 

One such instance c^ fry Sunday 
night at Denver, where the Nuggets 
had thfir nine-game home winning 
streak and five-game overall win- 
ning streak ended by the Jowly 
Philadelphia 76ers. 96-80. 

The Sixers led by at least 10 
points throughout the second half 

NBA HIGHUGBTS 

and answered Denver’s ratty charge 
with a 10-0 nm that put them ahead 
by 20 in the fourth quarter. 

“It was probably our worst per- 
formance of the year," Denver 
coach Dan I&sei said. “There really 
is not one positive tiring you can 
say about il” 

At ! 1-17. Philadelphia has ibe 
fifth-worst record in the Eastern 
Conference. Denver, despite its 14- 

14 record, was the honest team in 
the league entering play Sunday. 

None of that mattered to the 
76ers, who completed a season 

SWi 

beat 

Mahmoud Abdul-Raof, who 
leads the Nuggets with a 20.7 aver- 
age, was held to six points on 3-of- 

15 shooting. 

Guarding him was Dana Banos, 
the Sixers point guard, who had 14 
points and five assists on offense. 

Clarence Weather-spoon had 21 
points and 10 rebounds, and 
Shawn Bradley added 13 points. 
“Denver is a good baD chib," 


Isiah Thomas to Knicks or Not? 

The Aiwa a:eJ Pro: 

AUBURN HILLS. Michigan — Disputing newspaper reports, 
Detroit Pistons officials said Monday that Isiah Thomas, the backbone 
of the team for 12 yean, was not heading to the New York Knicks. 

The Detroit Free Press reported that the 32-year-dd guard would 
be pan of a deal that would bring small forward Tony Campbell to 
Detroit. The Free Press, citing an unidentified source, said the 
Pistons also would get the Knicks* first-round draft pick in 1994. 

The Detroit News reported that the deal would take place if the 
Knicks are unable to acquire Derek Harper from Dallas. 

But the Pistons president. Tom Wilson, said neither he nor Billy 
McKinney, the team's director of player personnel, had talked with 
the Knicks. “And as far as I'm concerned,'' Wilson added, “Isiah 
Thomas is welcome here until he retires." 

Thomas is in the Iasi year of a contract that is paying him S2.4 
nriBioa this season. He cannot be traded without his permission. 


Bradley said. “But we seem to play 
wefl against them.” 

Hornets 124, Knicks 123: In New 
York, Charlotte won in overtime. 
thanks to a big boost from Eddie 
Johnson and LeRom ED is, filling in 
for injured starters Larry Johnson 
eepof the Nuggets. PbBaddpbi& and Alonzo Mourning, 
at Denver 101-93 on Dec. 15. Johnson scored 32 points, includ- 
ing 18 in the fourth quarter, and 
Ems had a career-best 15, including 
a three-point play in overtime that 
put Charlotte ahead fra good. 

Jazz 92, Tkafl Bbzers 90: in 
Portland, Utah came back from a 
19-point deficit for its fourth 
straight victory. 

“We got some easy baskets by 
playing defense in the first half," 
Portland's Rod Strickland said. “In 


Hum 


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the second ball, it didn’t happen 
like dm.” 

Karl Malone scored 18 of his 25 
points in the second half. John 
Stockton bad 1 1 assist s in the third 
quarter and 16 for the g"*n* 

Spars 94, Lakers 92: fa San An- 
tonio, Terry Cummings committed 
a stupid foul with 0.6 seconds left, 
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David Robinson was fouled with 
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Hooston 24, New Yort J*t» 0 . 


SIDELINES 


HOCKEY 


NHL Standings 


EASTERN CONFERENCE 
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lanin); Q-RJad 12 (McKee, Scdclcd ; (bp)Ao* 
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18)810-33. C (an Esstma] 181811-33. 


OLYMPIC SPORTS 


Nonflc Combined 

JteeeNs Meador In ite world Cop Bd letow- 
too teats evtst la OMfwiesaatwl,Oenaesy; 
V Fintond . (Tapto Nurtneia, Jccrl MontUo. 
Hem* Mandnen, Tupl SerporoMa) 1824 
paints: iJcm rrafconorl Kane, Mshosol 
A6e» Knll Oetwcru, jwtmri Kooawa) 17*3 
(XI seconds penalty); 1 Austrto 1K4 (t mto- 
rttpeoewy]; AConnanrA mwnasAbrotti, 
FaKsehwoar.TBaraas Duftor, Jots Dctnttl) 
D5P UdK): s. Jaow^Swftiortfflto-Auslrio 
combined team as 0*91; 6. Germsnr B 
(Retaad Breua. Svon Lcanhantt, Enrtoe Hel- 
UBrFaUi Weber) W (*35). 


CRICKET 


SECOND TEST 

Austral* n. Seen Africa, l«caad Day 
Mo nda y, in Sydney 
5aoili Africa 1st fanUBs; Id* 

AiNJndto IS imoags; 28*4 1M2 even) 


Morceli Is L’Equipe’s Top Athlete 

PARIS (Combined Dispatches) — The Al^riun distance nmner Nour- 
eddine Morceli was named 1993*5 athlete of the year on Monday by the 
French reals daily 1’Equipe. 

Morcmi, 23, who wot the world 1,500-meter title in S mng an in August 
and was undefeated ihronghnn the year, beat Linford Christie, the world 
champion in the 100 meters, and Michael Jordan in the annual ranking. 

The Algerian also broke the world record for the xnfle in September 
wiih a poformance of 3 minutes, 4439 seconds. • (Rearers; AP) 

Christie Is Sporlswriters’ Choice 

BRUSSELS (AP) — Linford Christie, the British sprinter, and the. 
German swimming prodigy Franziska van Aimsick were voted Monday the 
top 1993 European athletes by the UEPSnnioo of Eoropean spartswatets. 

C hris ti e beat Spanish cyclist Miguel Indoram in the men’s division. 
Van Aimsick topped British hardier Sally Grand! in the women’s. 

The UEPS groups 40 national sportswriters federations in Europe. 

After becoming the oldest Olympic 100-meter Champion in 1992, 
Christie, 33, added the world title last summer in 937 seconds, only .01 
seconds shy of the world record. 

Van Aimsick. 15. won sax gold medals and a silver at the European 
swimming championships in Sheffield, England last summer. 

IAAF Prepares to Sweeten the Pot 

TURIN (AP) — Primo Nebiolo, president of track’s world governing 
body, said in an interview Monday that entry bonuses and richer prizes 
wood be given at the 1995 World Gunrpioasbips to meet growing 
demands by athletes. 

Prize money at world drampkmships has been a controversial issue fra 
Ndntdo's fatemational Amateur Athletics Federation in the last two years 
with top athletes threatening not to compete if they were sot rewarded. 

Tithsts at the 1993 championships fa Stuttgart received a luxury car as 
a prize and Nebiolo was quoted Monday in the Turin daily La Stampa as 
saying the IAAF plans to give out smaller cars for 2d and 3d placed 
athletes in the 1995 Championships scheduled in Gotebrag, Sweden. 

He said that each athlete entered in the next World Championships will 
be given a bonus of SI, 000. 

Ferrari Hires Japanese R&D Head 

MARANELLO, Italy (Reuters) — Ferrari has hired Japanese engineer 
Osaxnu Goto to head their research and development department, the 
Italian Formula One team said Monday. 

The 45-year-old Goto previously held the corresxmdingpost with the 
McLaren team and had also worked as Honda's Formula One engineer. 
He had recently returned to Japan to work with a Tokyo research unit. 

Ferrari has had no Formula One victory since the 2990 season. 

Injury Clouds Pat Cash’s Comeback 

ADELAIDE, Australia (Rentes) — Former Wimbledon champion Pat 
Cash's return to lop-flight tennis fahered Monday when he suffered a back 
injury in the first round of the Austr al i an men’s hardcourt diampimship. 

Pash , playing in his first ATP tournament for 15 months, Strained ms 
back during ms 4-6, 6-1. 6-3 defeat by Russian teenager Yevgeny 
Kafelnikov. 

The 2S-year-old Australian, who won Wimbledon in 1987, is trying to 
crane back after recovering from a serious knee injury. 

Cash said he sustained Monday’s injury in attempting a smash at 4-4 in 
the openhtt set. Although be wrai the set. Cash appeared to be uncomfort- 
able during the remainder of the match, whidtlaaedjust under two hoars. 


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Page 16 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, JANUARY 4, 1994 


ART BICIIWALD 


Down With Voice Mail 


Reborn Rockers Look to Heaven, Again 


W ASHINGTON — 1 have big 
plans for 1994. The firsi thing 
1 am going to do is destroy all voice 
mail in the country. I will work to 
gel a law passed stating that any- 
one who has a voice-mail machine 
will either be fined or sent to prison 
without parole for 10 years. 

I am not talking about personal 
voice-mail box- ^^£5£K§|£ 
e&, but those at 

stores, airlines. 

businesses, ioscr- ftOfjpLjjR 
unions of higher fe >»xjja S 
and lower learn- HL* -iEgg#' Jgjf 
ing and service [ , 
companies that 

if t“i^a 

9-year-old boy Buchwald 
in Boston named Christopher Ly- 
don working on a device that will 
cause a voice-mail box to self-de- 
struct once it comes into contact 
with a human voice. 

I am also starting a campaign to 
stop people from using the phrase 
“information highway" as a means 
of describing a new method of 
communicating with another elec- 
tronic system. 

□ 

1 am recommending a five-day 
waiting period for the authorities to 
conduct a background check on the 

C erson who wants to use iL If you 
ave a history of violence or have a 
police record, you will not be per- 
mitted to use ihe phrase. The rea- 
son for this is that, in the wrong 
hands, “information highway" 


Barnes Collection Drew 
1.5 Million to Paris Show 

Agcnce France-Preset 

PARIS — The Barnes Collec- 
tion, on display for 190 days at the 
Musee d'Orsay here, drew a record 
IJ million visitors, museum offi- 
cials announced Monday. Between 
SepL 8 and Jan. 2, when the exhibi t 
dosed, visitors streamed to the mu- 
seum to view the 72 works, shown 
for the first time outside Merion. 
Pennsylvania. 

Washington and Tokyo will be 
the next stops for the artworks, col- 
lected by Albert Barnes, who died in 
1951 at age 79. Barnes created his 
foundation in 1922 but strictly limit- 
ed access to the collection. 


could cause terrible accidents to 
drivers. 

In the past, because of my liberal 
leanings, 1 have been against capi- 
tal punishment. Recently I’ve 
changed my mind. I have no prob- 
lem recommending the death pen- 
ally for workmen who don’t show 
up when they ore supposed to and 
any person making a junk call after 
7 o’clock in the evening. Operators 
making junk calls before 7 should 
be sentenced to hard labor for sev- 
en years. 

1 am also advocating the death 
penalty for those who garble their 
telephone numbers on your an- 
swering machine so fasL that you 
can't understand them. 

Crime is something that is not 
going to disappear in" 1994. I'm in 
favor of a law rationing programs 
such as “Hard Copy.” “A Current 
Affair” and others that claim to 
replicate “actual crimes.” Every vi- 
olent series will be allowed to show 
no more than 10 lop gun murders a 
year. You would also be required to 
have a special permit to ptirtray 
rape and other forms of violence. 

Continuing with the crime issue, 
i am calling for the prohibition of 
hardened criminals appearing on 
TV talk shows. This includes 
crooked cops who wear paper bags 
over their heads when confessing 
their crimes. 

I also plan to ask church leaders 
to distribute pamphlets to police 
officers in their cars and at station 
houses explaining that selling 
drugs, stealing dirty money and 
beating up innocent citizens is not 
what inev have been hired to do. 


Nineteen ninety-four will be a 
great year. Wonderful things are 
going to happen. Donald and 
Marla Trump will raise a baby who 
will be asked by Donald lo sign a 
prepubescenl contract when she 
reaches 10. 

In spite of all the reform plans I 
have outlined, I will not call for the 
downfall of American companies 
that make faulty products, politi- 
cians who lie about their bank ac- 
counts and diaries, W'all Street 
firms involved in shady insider 
deals and lawyers who have their 
fimgers crossed while maintaining 
lhe~ innocence of their clients. 

The reason is that these people , 
provide me with material for 85 
percent of my columns. 


By Guy Garcia 

N EW YORK — Dressed in brooding black, with silver 
and wooden crucifixes dangling from his neck and a 
dense tangle of curls cascading around his shoulders. 
Michael McDermott could at first glance be mistaken for 
one of the legions of young rockers who have made a 
mantra out of sex. drugs and the meaninglessness of life. 

But near the end of his opening set at the Bottom Line 
in New York recently, the 25-year-old songwriter from 
Orland Park, Illinois, revealed a loftier aim as he per- 
formed a song called “Leave It Up to the Angels." frqni 
his new album “Gethsemane." 

Backed by ringing guitars and a pounding beat, McDer- 
mott closed his eyes and clutched the microphone as he 
confessed, Tm frightened by the way I feeL maybe you are 
too / I’m losing faith in everything and everyone but you." 
By the time the song ended with the exhortation to "leave it 
up to the angels . . surrender, surrender.” it had become 

an urgent incantation of the redeeming power of faith. 

McDermott is hardly alone in his quest for deliverance. 
Recent albums and videos by acts as diverse as U2. Peter 
Gabriel. Matthew Sweet. Rickie Lee Jones, Concrete 
Blonde and Snoop Doggy Dogg express a spiritual yearn- 
ing that harks back, consciously or not. to rock’s gospel 
roots and a generational groping for more eternal values. 

Not since the peace and love era of the '60s. when 
spiritual transcendence was celebrated by the likes of Bob 
Dylan, the Beatles and Joai Mitchell, have religious 
themes been so conspicuously prevalent in pop. 

For McDermott, the promise of redemption emanates 
directly from his past. A former altar boy who contem- 
plated joining the priesthood before finding his true call- 
ing, McDermott admits be is “much too weak a person to 
ever be a priest." But while he no longer considers himself 
a religious person, an enduring belief in “a certain mysti- 
cism that crisis in our reality” and the indelible lessons of 
his Irish Catholic upbringing have continued to fuel his 
muse “Christ is a very powerful image to grow up with." 
he says. “Here's this guy nailed to a cross hanging on your 
wall. How- can you not be affected by that?" 

On “Gethsemane," those memories result in several 
songs that use biblical references to depict a forsaken land 
of lost souls and wanton destruction, “f think these are the 
times of the golden calf," says McDermott "We re living 
in the lime oF Babel. What is enlightenment in 1995? Kurt 
Loder on MTV? Is that what people are looking for? I 
think people should start looking inside themselves as 
opposed to these false prophets. 

The spiritual slant in today's music is anything but a 
Sunday school endorsement of organized religion, " inqe.nl 
of urging people to go back to church, or to pray, the 
message is resolutely iconoclastic. The songs seem to say 
that in a godless society the only recourse is to make a 
personal appeal to the divine. “Faith lies in the ways of an." 
begins the song “Hummer" from the Smashing Pumpkins 
album “Siamese Dream." Pearl Jam’s latest album, “Vs," 
invokes God and Jesus to illustrate the moral hypocrisy of 
racist police officers i“WMA") and to ridicule’ those who 
downplay the danger of guns i “Glorified G"). 

Established rockers are also taking up the religious 
banner. On the song “When Jesus Left Birmingham" from 
his new album, "Human Wheels." John Mellencamp 
paints a scathing picture of a country that has lost its 
moral bearings and is veering toward destruction. 



'■*5Sr 


Michael McDermott: Fueled by mystkasm and Ms Irish Catholic upbringing. 


Ja& Y a wo glm for The New Yot 1 


The specter of impending apocalypse is echoed on 
“Feeding Frenzy.” from the new album by the Australian 
band Midnight Oil “Earth and Sun and Moon." Conjur- 
ing a postmodern wasteland of “Computers and shovels 
and churches and brothels / mannequins and skeletons, 
cities and dustbowls.” the singer Peter Garrett ominously 
warns. “Truth and fiction must collide some day / God 
knows. God knows, God knows it's been fuzz." 

Darker soil is the grim vision offered up by the hard- 
rock band Concrete Blonde. On the cover of its new 
album. “Mexican Moon," g rinning skeletons cavort in the 
style of the Day of the Dead, a Mexican religious festival 
that both honors and mocks death. 

The liner notes referring to “Jonestown," a song about 
the suicidal cult leader Jim Jones, include a quotation from 
Matthew 7:15: “Watch oat for false prophets. They come to 
you in sheep's clo thing, but inwardly they are ferocious 


cut yon up and watched you bleed. ... I murdered you a 
hundred times / I shot you dead and never cried." 
Such sentiments are a far cty from the biblical admoni- 


tion to “speak to one another in psalms and hymns and 

loathe Lwl^BaTShe writoof^jh^m 5:18 ondd not 
have anticipated the advent of electric guitars and the rise of 
a youth culture that defines itself by rebelling against 
everything and anything that its elders hold sacred. 

Why is faith suddenly so fashionable again? Part of the 
answer seems to He in tfve increasingly ephemeral nature of 
modern life: “We’re coming out of a’ popular culture dark 
ages," notes Professor James Hams, chairman of the 
philosophy department at the College of William , and 
Mary and author of “Philosophy at 33 1/3: Themes of 
Classic Rock Music.” “Beginning with the ’60s there was 
tlris rejection of the received do minan t culture and the 
modes which the dominant culture bad provided for 
finding meaning for one's life. To some extent, I think 
some of the same things are going on uow that went on in 
the '60s because people are still searching for those 
things." 

Guy Garcia, who renew pap culture for Time, wrote this 
for The New York Tones. 


PEOPLE 


For Gates* a Marriage ; 
Made in Microsoft 

Bffl Gates, the chairman of Mj- J 
crosoft Com. who has a net worth 
of St least $6 MBotu has married 
his l ongtime girlfriend,. Mefinda 
French, a Microsoft marketing 
manages. Tlie wedding, on the Ha- . 
wanan island of Lanai, capped an 
extravagant weekend of partying 
that included WOfie Nelson and Af 
tee Cooper. Gates met French m i 
manne r befitting his workaholic 
reputation — at the office, shortly 
- after she began working atthe Com- 
puter software company in 1987. 

. . . If British tabloid reports are 
to be believed. Prince Rainier of j 
• Monaco and Hjortis Niven, the > 
wifeof the late actor David Nhen, j 
may many this spring. But a 
spokeswoman for the principality 
of Monaco. Jsafce Be Peter s, said 
she was unable to confirm the re- -1 
port. Rainier’s wife. Princess 1 
Grace, died in a car crash in 1982; ; 

David Niven died in 1983. 

□ ; j 

Barbra Streisand, who ended a 
27-year break from public perfor- 
mances with two solo-out shows in 
Lis Vegu over the weekend, said 
she pla ns to take her show on the 
road. She told Daily Variety that 
she will tour a few dries and may 
tape a show far television. 

. O 

The FommLa One racing champi- 
on Alain Prost highlighted the New 
Year list for France's most presti- 
gious award, the Legion of Honor. 
Prost, who retired this year after 
winning his fourthchampionship, 
was promoted from knight lo offi- ] 
cen Fifty^evea people were named - 1 
for admission or promotion, incbid- *'] 
ing Dr. Luc Moo tagnfcr, co-discov- 
erer of the AIDS vires, and the 
actress MGchHe Morgan. - 

□ 

“It won’t change my life at all," ' i 
said Marie-Thercse Bane after , 
smashing the French lottery record i 
with winnings of 59 mfiKanfrancs 
($10 million). A day after pocket 2 
ing the payout, the 82-year-old 
Bazre “continued to do the cross- 
word,” said her son Jacques. Barre ( 


/{?• iVr 
f/ 


has played the lottery for six years, 
“ana rfl .be playing again this 
week," she said. 

755 iRNAHOIYAL 

CLASSIFIED 

Appears on Pages 5&6 


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WEATHER 

Forecast for Wednesday through Friday, as provided by Acco-Wsather. 


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The storm thai brought a 
paralyzing snowfall to the 
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mixlure of ram. sieci and 
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1 Rumble 
6 Not lancy 7 
io Difficult 
obligation 

14 of do or 

dte'_ 

is Sing Crosby 
be s i seller 
is Guthrie the 
younger 
17 Heady entree 
20 Kjbbutzmks' 
dance 
ai Reverse 

22 MUSI 


22 Place to crasn 

25 Kipling novel 

2« Tasty side dish 

3S Mortgage 
matter 

3s Words before 
'in the arm - or 
'm the dark" 

37 Detective's cry 

38 Them m 
■Them' - 

as Common hey 
signature 

40 Composer 

Carlo Menotti 

41 Cpl . for one 

42 Feed a fete 


Solution to Purde of Jan. 3 


cinaan naan sain 
□□□□El naan naan 
□anaaoaaan anaa 

DEQO 0EK3QQ 00113 
CDQH anamaa 
annas aanna 
□□□aan HaaaaQEj 
laaBQtnanHQaapaQal 
QSQUQISQ □□□□□□ 

□□□□□ aaaasl 

□□□□□a □□□ 

anas □□□□□ □□□□ 
□aan □□□□□□□□□□ 
□□□a □□□□ □□□□□ 
□□□ sans sasas 


43 Siaod for 

44 Yummy dessen 
47 Cherbourg 

chum 
4« Latin I? 

49 Lamb Chop s 
"spokesperson" 
52 Ocearua 
republic 
55 Wmdmill 
segment 

59 Eventual bonus* 

82 Cream filled 
sandwich 

83 Debouchment 

84 internet patrons 

85 Blubber 

86 Yeltsm veto 
67 Koch's 

predecessor 


1 Calculator work 

2 Radar blip 

3 Thieves 
hideout 

4 They re loose 
s -Yikes'- 

6 "The Afternoon 

ola ' 

7 In the thick of 


8 First name in 
perfumery 

9 Venture 

10 Japanese mats 

11 Olympic hawk 

12 Bed-frame 
crosspiece 

13 "Mikado" 
executioner 

18 Sport whose 
name means 
"soft way- 

19 Polo, eg 

24 Circulars 

25 Carpenter's 
woe 

26 French bread? 

27 Htgh-pnced 
spread’ 

28 ". and eat 

29 Subj of a 
Clinton victory. 
It 17 93 

30 Key 

31 Midway 
alternative 

32 River nymph 

33 The Gofd Coast 
today 

34 "A voire ■" 

39 Java neighbor 

40 Columbus, by 
birth 

42 Nancy" or 
'Cathy' 


New York Times Edited bv Wilt Shorts. 



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PustabyDavidA Raaen 


43 PUSS 

43 Server on 
skates 

48 Dos ■ cuatro 

49 Take third 


50 Take on sc Sphere 

51 " — 1 on Film’ 57 'Cheers' 

(1983 book set) habitae 

52 Conniving 58 Alternatively 

53 Coach Nastase .go Lady lobster ' 

54 Rock's Joan 81 Ungainly craft 


Travel in a world without borders, time zones 

or language barriers. 


ABST Acctss Numbere, 

How [0 call around the world 

1. Using the chan Woo-. End the country y.ju an.- ctiiKng from. 

2. Dial the corresponding AlJETAj-cir* Number. 

3. -An -■wsa' English-speaking, Operaior or \-oi« prompt will ask for the phone number you wish to call or connect you to a 
customer sen Ice representative. 

To receive }T3ur free waBct card of -QSaHs Access Numbers, just efial the access nurntocr of 
the country you're in and ask for Cusronier Service 

COUNTRY ACCESS NUMBER COUNTRY ACCESS NUMBER COUNTRY . ACCESS N UMBER 


JgW3K?4'a“i 
•war* « F ,r - . 

( . ' 

1 hbiig-f. ... , 

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cuumgcow* Imagine a world whe re you can call country to country as easily as you can from home. And 

reach tlte US. directly from over 125 countries. Converse with someone who doesn’t speak your 
83 b language, since it's translated instantly. Call your clients at 5 a an. knowing ihey'U get the message in 

•' S522? y° ur y oice at a more polire hour. All this is now possible with AlaST : 

/ '/j/fMt iHji To use these services, dial the AT&T Access Number of the counin- you're in and you'JJ ger all the 

help you need. With these Access Numbers and your AKT Calling Card, international calling has never been easier. 

If vou don’t have an AIKT Calling Card or you'd like more information on global services, just call us using the 

convenient Access Numbers on your right. 


A 1ST 


> ]093.^To3" 


Australia 

ChinaJRCow 

Guam 

Hong Kong 

India* 

lodonesfiaw 

Japan* 

Korea 

Koreati 

Malaysia* 

Xetv Zealand 

FMHpphia* 

Rmsb^MoKOw) 

Saipan* 

Satgapore 

Sn Lanka 

Taiwan* 

Thailand* 


Hungary* 
00I-I-881-011 Icebnd-a 
10811 Ireland 

018*72 fair 

800-1111 Lkcbtcnstcin’ 
000-117 Lithnania* 
Mk80I-10 la/xcmboi/rg 
0030-111 Monaco* 

009-11 Neiberlands* 
11* Norway* 
800-0011 Poland**" 
000-911 POrtngar 

105-11 Romania 

155-5042 Slovakia 

235- 2872 Spain 

800-0111-111 Sweden* 


OCUjOgjmi CghmiMa 

99^00 1 Costa Rica's 

1-800-550000 Ecuadcff* 

172-1011 El Salvador* 

155-00*11 • Guatemala* 

****35 Guyana*** 

Honduras^! 

194-0011 MexlcakA*. 


Armenia** 

Austria^* 

Bdpum* 

Bulgaria 

Croatia"* 

Cyprus* 

Czech Rep 

Denmark* 

Finland" 

France 

Germany 

Greece* 


009-n Neiberlands* 00022^111 

800-190-11 

8000011 Poland**" 0*0104800111 r~; 

000-911 Portugal" OSO 17-1-288 — — 

105-11 Romania 01-8004288 • ., n ^ Uay , 

1555042 Slovakia 0042000101 

255-2872 Spain 9>3099-00-n 

8000111-111 Sweden* 020-795-611 — ha *™ < 

450-130 Swfmbind* 15500-11 ■?*? ! auda: ' 

0080-102880 HkI " 0500090011 BtMiihVJ 

0019-991-1111 MIDDLE EAST Ca y man>a 

Bahrain HOfrOOl Greaada ^ 

8414111 Eg>-ptt* (Cairo) 5100200 

022-905011 Israel " 177-100-272 7 l 20 ****^ 

CrfB-ll-WIO Kuwait SQO-288 N«h.Ani 

OQ-ISWOOIO Lebanon (Beirut) 426-601 SlHub/Ni 

99-380011 Saudi .Vahu 1-800-10 0 

OaWOOlu TBrisey* ~ 00-800-12277 ~ Gabon* 

0-42000101 AMFntCAS Camhire 

a0Q1 ^ )01Q Atgeniiru* 001-8Q0-3Q0-U11 Kenya* 

9800-100-10 Belm.** ~ 555 Liberia 


980-11-0010. 

; 114 

119 

190 

-■ ' 19Q 

16 ? 

123 

95-800-4624240 


- — JBosk 
kr Ballot 


EUROPE Bahrain 

8*14111 Egypt* (Cairp) 

022-903011 Israel 


00-42000101 

8001-0010 Ai^tentiru* 
9800-100-10 Belize* 
19*0011 Both-w* 
0130 0010 Brazil 
00-600-1 311 Chile 


— KfawasnCMuHBuO 174 

-ggg ^l ^ 

0104800111 p^: — ^ 

05017-1-288 r: : — r — : — ' 

01-8004288 ■ ^ U3y . „ 

0042000101 ^ 8001 l-UO 

900-09-00-n — C aribbean; 

"raOwSi 1-800072-2881 ; 

1 55O0.i l Bcmuck * 1-800-872-2881 

050009-0011 1-800-872-2881 J 

\ST Cayman Islands l-80OO72r2881 : . 

800001 Gnmada* 1-800072-2 881 

5100200 Hakt " 001-80007 2-2883 * 

177-100-2727 ^ amak:a " 0^00-872-2881 

800-288 tk& - Anta 001 -TOQ-872-2881 

426001 frKta/Nevis 1-80087^-2881 ,V 

1000-100 AFRICA . ; 

00- 800-12277 " GabooT ’ ~ ' QQa-001 ' 

iS Gauobiar OPUS 

1- 800-300-1111 Kenya* ... 0800-10 : 

«5 Uberia . 797-797 

M0M111 Malawi** 101-1992 

000*8010 Mater QB0M9MM ;" 

OQa- 0312 Suritame jj 


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