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INTERNATIONAL 




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(tribune 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 



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Paris, Satord ay-Sun day, July 9-10, 1994 



No. 34,636 


No Support in Sight 
For Dollar as G-7 


Opens Naples Talks 


By Alan Friedman 

laiemaaonai Herald Tribune 

NAPLES — As leaders of the world’s 
seven richest industrial democracies as- 
sembled here Friday for their annual sum- 
nut, President Bill Clinton and other U.S. 
officials appeared to rule out any immedi- 
ate and concerted action by the seven to 
prop up the ailing dollar. 

Moments after Mr. Clinton spoke, the 
dollar tumbled to a 20-month low against 
the Deutsche mark and fell against the yen 
as well (Page 10) 

Mr. Clinton, just hours after his first 
meeting with the newly installed prime 
minister of Japan, Tomiichi Murayama, 
said, “We should be very concerned about 
the value of our dollar, and we should tell 
the world that we do not wish to have a low 
dollar.” 

But he stressed that the U.S. currency 
had dropped to “an historic low against 


the yen only'* and predicted that the value 
Id rebound 


B •’ i. ' — JxqnB Devanttm ■ Aprncr Ftsrue-Pressc 

Prime Minister Tomiichi Murayama arid President Biff Ctintonat a news conference following their talks at the Group of Seven meeting in Naples on Friday- 


West Gropes for a Post- Cold War Grand Design 


By Craig R. Whitney v ' ’ * - 

New York Times Service 

NAPLES — President Bill Clinton’s trip to Eastern 
and Central Europe and the conference of seven major 
industrial democracies that began here Friday both 
show European leaders how far tbey'stiUhavetogo, five 
years after the Cold War ended, to solve the security and 
economic problems that fo&owed it 
From the~E!ixropean point of view, Mr. Clinton’s role 
is crucial. Without dear American leadership and com- 
mitment, the West can neither redefine relations with 


Mr. Yeltsin is not participating in the economic talks, 
which the Europeans would like to center on jobs and 
the lack of them in Western Europe, where an average of 


.11 percent of the work force is unemployed. 
The pro 


i problem could become even more acute as low- 
wage East E ur opean countries make the transition to a 
free market economy and increase their expons of cheap 
manufactured goods, because Western Europe’s welfare- 


NEWS ANALYSIS 


^Russia and the East European countries the Soviet 
"Union used to dominate, nor redefme the institutions 


• 1 needed to ensure Jarring stability frwn tbrAtkmticto 
. the Urals in the new era.' . . 


Those are the broadest purposes of Mr CKnton’s trip 
and <rf the annual economic s un m ri t meeting here, winch , 
for the first lime will include President Bon^N -Yeltsin 
of Russia as a fniJparticipant in the political partof the 
gathering that win begin Saturday night after the eco- 
nomic discussions end . 


state economies m a k e labor too expensive to cope with 
the growing competitive challenges of the global econo- 
my. "• : '■ : .• • •' ‘ r 

: . J *' ' “Uriemplc^immtls'tl^ central problem of our econo- 
mies, and has become the problem of the G-7,”ahigb- 
ranlring french aide to President Francois Mitterrand 
said. “B we do not solve it, we ride shaking the founda- 
tions of our entire economic system." 

But unemployment is only one of the problems that 
■ has to be solved in the post-Cold War economic frame- 


work. With many European leaders in weak domestic 
political positions or facing elections within the next 
year, few are eager to teQ voters that things like six-week 
annual vacations and 35-hour workweeks may be things 
West Europeans may have to sacrifice as their neighbors 
to the east begin to compete with them economically. 

The U.S. economy has generated millions of jobs over 
the past two years, and Washington is encouraging its 
European and Japanese allies to pursue high-growth 
economic policies in the year ahead. But uncertainty 
about trade imbalances and concern about the Clinton 
administration's trade policy toward Japan have weak- 
ened the dollar on iniemarionaJ currency markets. 

European leaders seem to view that as primarily an 
American problem. 

“There’s been no effect on the European currency 
system,” said Got Haller, a German Finance Ministry 
official. 

Many European officials regard Mr. Clinton's foreign 
policy team as weak and think his attention to European 

See SUMMIT, Page 5 


WORLD CUP iV' GRANDSTAND 




Just What Wa 

For all of its fits of drama and tragedy, 
the World Cup has gone basically to 
plan. (Basically, there was no plan.) A 
record seven European te am s have ad- 
vanced, which might say something 
about European soccer buj probably 
doesn’t — other than to deduce that 
the rest of the world went 1 for 11 in 
the first round. 

And the Whiter Is . . . 

The Romanians say Gheorghc Hagi 
has been the best player in the tourna- 
ment. The Dutch vote for Dennis Berg- 
v.im p And Tor each t e a m , its - hopes 
will be riding cm its star this weekend. 

Saturday's quarterfinal match** naty vs. 
Spain, in Fox boro, Massachusetts. 1805 GMT; 
Netherlands vs. Brazil, in Dados, 1935 GMT. 
Sundays quarterfinal matches: Bulgaria v* 
Germany, in Easifiutherford. New Jersey. 1605 
GMT; Sweden vs. Romania, in Stanford. Cafi- 
tomia. 193SGWT. ' 

World Cup raport Pages 20 and 21 


Aid Agencies in Rwanda Face ‘Logistical Nightmare’ 


By Raymond Bonner 

New York Times Service 

CY ANIKA, Rwanda — Two weeks ago, 
about 40,000 referees had jammed them- 
selves: into this hilltop village. Now there 
axe at least 60,000, and peasant families 
continue to stream in, arriving after days 
of walking, in rags, dirty, exhausted, suf- 
fering from malana and dysentery. 

The International Committee of the Red 
Cross estimates that at least 1.8 million 
Rwandans have been forced to flee their 
villages and are living in makeshift camps 
like this one. 

“There is no other situation like this in 
the world today, in terms of scale,” said 
Patrick Fuller, a Red Cross spoke sm a n . 


Thomas Gartner, the Red Cross relief 
coordinator for Rwanda, described the sit- 
uation as “alarming” but said there was 
“still a diance to save these people if we get 
cracking.” 

Providing for the needs of 1.8 million 
displaced people will be a “logistical night- 
mare,” he added. 

More than 1.4 million of the displaced 
are Huai jammed into the shrinking sec- 


TatsMed rebels agree to respect a no-fight 
zone for refugees. Page 2. 


The population of this small county be- 
“ * “ million. 


fore the war was sfigbtly undear 8 _ 
which would mean that almost a quarter of 
the population has been made homeless by 
the war between the Hutu-dominated gov- 
ernment and Tutsi-led rebels. 


tion of the country controlled by the gov- 
ernment. 

Though other charities are returning to 
this side of the front line, for the last three 
months the Red Cross has been the prrnd- 

g tl international relief organization in the 
urn areas. In the rebel-controlled areas, 
at least 10 international agencies are pro- 
viding relief, according to a May 28 report 


by the Rwanda Patriotic Front, the Tutsi- 
dominated rebel group. 

Many of the foreigners who were work- 
ing in government areas left in April after 
Rwanda’s president, Juv&nal Habyari- 
mana, died in a suspicious plane crash, 
unleashing a wave of killing, mostly of 
Tutsi and moderate Hutu who were op- 
posed to the government. 

The Red Cross has been operating on 
both sides of the line since die outbreak of 
the civil war in October 1990. “It is no 
safer on the RPF side than here.” Mr. 
Gartner said. 

Many of the relief agencies that fled 
Rwanda now operate out of Bujumbura, 
the capital of neighboring Burundi. The 
agencies hold weekly meetings to discuss 
the crisis in Rwanda, but so far they have 
delivered littie but promises, said Stephen 
Jackson, who works here for Trocaire. an 
Irish relief agency. 

Trocaire has been providing logistical 
support for three Catholic nuns from the 


Medical Missionaries of Mary, of Dublin, 
who have been struggling to save lives at 
the camp in Cyanika since they arrived 
June 23. 

Seven or eight people are dying in Cyan- 
ika every day, said Dr. Genevieve van 
Waesberghe, one of the three nuns, as she 
tended to a two-year-old boy who was in 
critical condition; he had been struck by a 
tree being felled by another refugee for his 
shelter. Dr. van Waesberghe said the situa- 
tion was more disastrous in nearby camps 
where there is no foreign assistance. 

Most of the aid delivered to more than 
350,000 refugees in the Cyanika area has 
been provided by Caritas, the relief agency 
of the Catholic Church. But to help the 
refugees, Caritas has bad to draw on food 
supplies intended for famine victims. 

The World Food Program is already 
stretched, providing for the needs of more 
than 250,000 refugees in Sudan, Somalia 
and Ethiopia. 



W 


Philosophically, It Comes Down to a Test 


By Alan Riding 

New York Tones Service _ ■ 

PARIS — Does knowledge inhibit the 
imagination? Is a coherent thought neces- 
sarily true? Can a work of art be consid- 
ered imm oral? , . . , « 

Or is passion compatible with wisdom. 
O.K-Now, over the next four hours, wnte 
a five-page dissertation on one of these 

‘“vSr in, year on., **>*««»! 

sssk-E gg 

&£5*ssssSt 

PvLrSTis still the only country m the 

Jm to KOI*. 


Hobbes or Voltaire or Locke or Marx, this 
policy aims to teach young French men 
and women bow to think — to think in the 
French way. - . • 

. “At this stage, it’s a rhetorical exercise, a 


question of being able to presentan argu- 
“ 'iLucFerry,! 


i philosophy teach? 
Cousin in the 


Newsstand Prices, 


Andorra 9.00 FF UxOTtouraS0L.Fr 

ssSjbBB 

gHTiSSB 

Egypt qm cis Saudi Aron*® 

Gabon 9&CFA 

™ ly ^"f^CFA t5.T.L 35,000 
Ivory Coast .1.1 uXE......630Dlrh 

ffaSbrmS sljg U.'s,Mii; (8(ir.»1.10_ 


meat/* said Luc Ferry, a r . _ 

cr. “And, since Victor Cousin in die mid- 
19th century, this has been done through 
the method of presenting a diesis, an an- 
tithesis and a synthesis.” 

In Jngb schools and, above all, in the 
“ bocadauriat ” examination, the topics are 
chosen to force young minds into new 
areas through analysis of, say, truth or 
conscience or freedom. “All my students 
want to discuss is love,” one high school 
teacher said with a laugh. 

In the cram room they have to be ready 
for more. Lastyear’s questions included. Is 
reality always realistic? Among questions 
presented for dissection two, years ago 
woe: Can self-knowledge be sincere? And, 
more mischievously, How do you know 
that a proNen is philosophical? - 

Yet,.' in the land of .Descartes, it is the 
method that has had most lasting effect 
As sboU’discovered-by anyone who has-sat 
in a snjoke-f31ed Left Bank caffe or around 
an elegant Paris dinner table, good conver- 
sation involves taking a subject, ex aminin g 
it from all'sides and conceptualizing it to 


See FRANCE, Page 5 



Kiosk 


Simpson to Be Tried 
On Murder Charges 


Thejudge in the OJ. Simpson case 
Frii 


ruled Friday that the former football star 
must face trial on charges that he mur- 
dered his former wife and her friend. 


Judge Kathleen Kennedy-Powell is- 
sued the 


ruling after a preliminary hear- 
ing in Los Angeles. She denied bail 
Mr. Simpson has pleaded not guilty to 
the June 12 slayings of Nicole Brown 
Simpson, 35, and Ronald Goldman, 25. 
Earlier article. Page 3. 


out 

19. 


Sports 

Greg LeMood, exhausted, 
of the Tour de France. 

Art 

Three rare works of art bring record 
prices in London. Page 6. 


Book Review 
Crossword 



The AmwukJ Pi®» 

KEEPING TOE UD ON — An Israeli soldier pushing away a settler 
Friday from a barricade of bunting liras on the Jerusalem-Hebron road. 
West Bask settlers were protesting the Iriffing of two Jews. Page 5. 


The Dollar 

Nt* Yoffc. 


Frid0«L 


pretfetadon 


DM 


1-561 


15716 


Pound 


13495 


13405 


Yen 


98.055 


98.60 


FF 


5.365 


5.4035 


.1 


of the dollar would rebound once Japan’s 
economic recovery expands and U.S.- Jap- 
anese trade talks make progress on open- 
ing Japan’s markets. 

Mr. Murayama conceded: “I don’t think 
there will be stability immediately” in the 
volatile yen-dollar relationship. 

Mr. Clinton also noted that coordinated 
central bank interventions in foreign ex- 
change markets sometimes “work for a 
little bit and sometimes they can make a 
real difference.” But he said that over the 
long run the best thing to do to stabilize 
the dollar was “to send a signal to the 
markets that we are workn.^ on the eco- 
nomic fundamentals.” 

Lloyd Beutsen, the U.S. Treasury secre- 
tary, said after meeting his Japanese coun- 
terpart that “we have concern about vola- 
tility in our currencies, but the underlying 
fundamentals are excellent.” 

A senior Clinton administration official 
who asked not to be named said, *yWe do 
not see a currency agreement coming out 
of this summit.” 

Another U.S. official noted that while a 
coordinated intervention by the Group of 
Seven industrialized countries was “not in 
the works,” there might well be an expres- 
sion of concern about the dollar's weak- 
ness by G-7 leaders. 

“We never signal our future intentions 
on interventions, but developments in the 
currency markets are of concern and there 

See DOLLAR, Page 5 


Clinton Says 
Junta Actions 
To Determine 
Haiti’s Fate 


By Ruth Marcus 

Washington Post Service 

NAPLES — President Bill Clinton 
on Friday defended his decision to 
refuse political asylum in the United 
States to Haitian boat refugees, and 
said he was disappointed in Panama’s 
“retraction” of its offer to provide 
shelter to fleeing Haitians there. 

Speaking at a news conference on 
the first day of the Group of Seven 
summit meeting here, he repeatedly 
refused to rule out military action to 
oust die Haitian leadership and said it 
was their abusive behavior — not U.S. 
actions — that had created the recent 
surge of refugees. 

“The conduct of the military lead- 
ers in Haiti will have more than any- 
thing else to do with what options are 
considered when,” he said. ^And that 
conduct has not been good.” It was 
one of his most explicit statements yet 
about the prospect of military inter- 
vention by the United States. 

A senior U.S. official said later that 
Mr. Clinton's comments should be 
taken as a “strong statement of the 


general point” that military action is 
among the o| 


options but not as a sign 
such a move IS immin ent. 

The official riled “signs of ferment” 
in the Haitian military forces as one of 
what he described as “increasing 
signs’’ that tightened economic sanc- 
tions are working. But he acknowl- 
edged that “the refugee flow makes 
the problem a lot more difficult” 
More than 17,000 refugees have 
been picked up by the US. Coast 
Guard since the United Slates an- 
nounced that it was reversing its previ- 
ous position and would begin process- 
ing refugees aboard ships. 


The heavy flow of refugees led the 
administration earlier llus week to 


shift position yet again, announcm; 
(hat Haiti 


aitians picked up on the hif 
seas would no longer be eligible for 
political asylum in the United States. 
ins tead, they will be sent to " safe 
havens” at the Guantanamo naval 
base in Cuba and in other countries 
where they would await a time when 
they could be returned safely to Haiti. 
Only Haitians who take the risk of 
going to processing centers in Haiti 
would be able to enter the United 
States. 

Mr. Clinton, in his first comments 
on the latest twist in U.S. policy, said 


See HAITI, Page 5 


U.S. and Korea 
Gte ‘Useful’ 
Nuclear Talks 


By R. Jeffrey Smith 

Washington Post Service 

GENEVA — ■ Senior U.S. and North 
Korean officials held what they both de- 
scribed as “useful and productive” discus- 
sions here Friday on nuclear and other 
matters, but indicated that they remained 
uly at odds over how to resolve North 
j’s alleged pursuit of nuclear weap- 
ons. 

Assistant Secretary of State Robert L. 
Galluca and other U.S. officials spent the 
day laying out what he has called a “broad 
ana thorough” American proposal for es- 


Russa is ready to provide North Korea with a 
fight-water audear reactor. Page! 


tablishing closer ties with North Korea 
while ensuring that the country cannot 
develop a substantial nuclear arsenal. 

At tne close of his first day of direct 
negotiations with North Korea since July 
1993, however, Mr. Gallucd declined even 
to say whether he remained optimistic that 


a settlement was likely or bow long the 


talks would continue. He said that the two 
sides had discussed “the full range of is- 
s.” More (tis- 


sues outstanding between us. 
cussions were to be held Saturday. 

Mr. Gallucri's North Korean counter- 
part, First Deputy Foreign Minister Kang 
Sok Ju, said the discussions were “exten- 
sive” and “very serious." He said that 
while “both sides have identified there is 
much in common” in their positions, 
“there are many points on whicn the two 
sides differ very much.” 

Mr. Kang said he hoped that in coining 
days “we can try to narrow down our 
differences on ways to resolve the nuclear 
issue.” In marked contrast to periodic 

See NUCLEAR, Page 5 







Page 2 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY, JULY $-10, 1994 


Plan to Split Bosnia 
Challenges Serbs 


Leaders Studying a Proposal 
Short of Territorial Demands 


By Roger Cohen 

Sew York Times Serna 

ZAGREB, Croatia — The 
latest map advanced by interna- 
tional diplomats for a settle- 
ment of the Bosnian war offers 
the Muslim-led Bosnian gov- 
ernment a more extensive and 
viable territory than any previ- 
ous proposal, but appears to 
pose critical problems for the 
Bosnian Serbs. 

Throughout the 27-month 
Bosnian war, the Bosnian Serbs 
have made two basic demands; 
that their territory in Bosnia be 
contiguous rather than frag- 
mented, and that their claim to 
separate statehood or eventual 
integration with Serbia be ac- 
cepted. 

These two demands reflect 
the deeply held Serbian view 
that the international recogni- 
tion of Bosnia in April 1992 was 
a travesty that faded to take 
account of the fact that the 
Serbs — almost one-third of the 
prewar Bosnian population — 


made their objections to 


secession from Yugoslavia 
abundantly clear. 

The result was that a large 
Serbian minority was left facing 
, fairly hostile Muslim-led gov- 


ernment in a country whose ex- 
istence the Serbs had never ap- 
proved. 

In the new map, prepared by 
the United States, Russia, 
France, Britain and Germany, 
the Serbs will find little satisfac- 
tion. The corridor connectii 
their territory in eastern 
western Bosnia tapers to a nar- 
row point in the northern town 
of Brcko, leaving the Serbian 
land acutely vulnerable to the 
fragmentation they have re- 
peatedly refected. 

Moreover, Secretary of State 


government, the map offers 
nolle 


Warren M. Christopher said 
this week 


categorically this week that the 
map was intended “to preserve 
the state of Bosnia as a single 
state within its internationally 
recognized borders.” 

Thus, while the Clinton ad- 
ministration has reluctantly 
agreed to give the Sobs several 
towns in which they killed or 
evicted the Muslim population, 
it has — after some wavering — 
decided not to budge on the 
question of Bosnia’s remaining 
a single state. 

Bosnian Serbs' pretensions 
toward independence or union 
with Serbia will not be tolerat- 
ed, the United States feels. 

The Bosnian Serbs' leader, 
Radovan Karadzic, made his 
objections to this clear on 
Thursday, saying that “consti- 
tutional principles may deter- 
mine whether we are going to 
accept the plan or not/ 5 

In other words, officials dose 
to Mr. Karadzic said, the Bosni- 


many advantages, not least the 
handover of all or most of sev- 
eral important Serbian-held 
towns, including Jajce, Dobqj, 
Sanald Most, Brcko, and Vise- 
grad. 

It provides access to the sea 
in the south and to the Sava 
River in the north. The eastern 
enclaves are incorporated into 
the main territory, albeit by its 
own tenuous corridor, and only 
the Bihar area in the west and 
the area north of the Serbs* 
northern corridor are left frag- 
mented. 

On the other Hand, Muslim 
refugees who have fought for 
more than two years to return 
to towns like Prijedor, Banja 
Luka, Zvornik, and Vlascnica 
would have to be told by the 
government that they are not 
going home. 

“The plan is less favorable to 
the Serbs than it is to us,” the 
Bosnian president. Alga Izetbe- 
govic, said Thursday. “Despite 
everything, my opinion is that 
we should accept this plan, that 
we should not refuse it, because 
by refusing it we would do a 
favor to Karadzic and Milose- 
vic.” 

Both sides have to reply to 
the United States, Russia and 
the Europeans by July 19. 


UN Seeks to Extend Truce 
That Helped Calm Bosnia 


Compiled by Ow Staff From Dispatch a 

SARAJEVO, Bosnia-Herze- 
govina — United Nations offi- 
cials tried Friday to persuade 
the warring parties in Bosnia to 
agree to an extension of a 
monthlong truce that has 
brought relative calm to most of 
the country despite major viola- 
tions in a few areas. 

“We’ve seen a general de- 
crease in the level of hostilities 
and the area of hostilities has 
been generally confined,” said a 
UN spokesperson, Claire 
Grimes, summing up the truce 
that expires Sunday. 

“We’re hoping it will be ex- 
tended,” she added. “We’re 
hoping we can get guarantees 
from both rides.” 

A UN special envoy, Yasushi 
Akashi, traveled to Mostar to 
win agreement from Ejup 


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Game, vice president of Bos- 
nia’s new Muslim-Groat federa- 
tion, who negotiated the initial 
truce for his ride last month. 

Mr. Akashi was scheduled to 
travel by helicopter to Pale to 
meet Radovan Karadzic, pres- 
cient of the self-styled Republic 
of Srpska that rebel Serbian sol- 
diers have carved out of Bosnia 
in 27 months of war. 

The United Nations reported 
heavy fighting Friday in the 
northwestern town of Bihac be- 
tween Bosnian government 
troops and forces loyal to a 
breakaway Muslim leader. 

UN soldiers and aid workers 
remained trapped in their base. 

Major Jean-Fran<jois Phi- 
lippe, spokesman for French 
peacekeepers in the region, said 
in a telephone interview that 
there had been “heavy fight- 
ing.” 

Movement of as many as 1 14 
French soldiers, along with up 
to SO UN military observers, 
European Union monitors and 
Red Cross personnel, was re- 
stricted by the Bosnian Army 
5th Corps for a second day. 
Major Philippe shid. 

Ten armed soldiers were 
guarding the gate, res t rict in g 
any movement. 

(Reuters. AP) 


an Serb leader wants interna- 
tional recognition of his self- 
styled Bosnian Serb state, or at 
least of the right of the Bosnian 
Serbs to an eventual union with 
Serbia. The most he is likely to 
be offered, however, is some 
kind of confederation with Ser- 
bia. 

On the question of the need 
for secure links between Serbi- 
an land in eastern and western 
Bosnia, Momcilo Krajisnik, the 
speaker of the Bosnian Serbs’ 
Parliament, said, “This propos- 
al for Brcko does not suit us at 
afl.” 

Other Serbian concerns cen- 
ter on the land accorded to the 
Mushm-Croatian federation in 
eastern Bosnia on the border 
with Serbia. This cuts Serbian- 
held land in the northeast and 
southeast of Bosnia. In the dark 
visions of many Serbian nation- 
alists, it brings closer the link 
they call “Allah's road” or “the 
gr een transversal,” connecting 
the restive Muslim population 
of the Sandzak area of Serbia 
and Montenegro with the Mus- 
lims of Bosnia. 

Mr. Karadzic has said repeat- 
edly that eastern Bosnia could 
not be settled until the status of 
Sarajevo was determined. But 
under the new proposal, Saraje- 
vo is to be administered by the 
United Nations for two years 
pending a decision on its status. 

For the Muslim-led Bosnian 




Ofiaorl Dukor/Rwen 

Mr. Gorbachev testifying Friday. “I realize that everything is being dorto here to pitmike me,” he said at one point 


Coup Suspect Tries to Turn Tables on Gorbachev 


Reuters 

MOSCOW — Former President Mik- 
hail S. Gorbachev was goaded and taunt- 
ed in court on Friday in his first confron- 
tation since the failed coup of 1991 with 
a general accused of trying to overthrow 
Him _ 

“You’re a liar!" Mr. Gorbachev shout- 
ed at one point, waving his finger angrily 
as former Deputy Defense Minister Va- 


lentin Varennikov tried to turn the wit- 
ness into the accused. 

General Varennikov, who led a mis- 
sion to Mr. Gorbachev’s Crimean vaca- 
tion home on the eve of the coup, read 33 
long questions portraying Mr. Gorba- 
chev as a man who had wrecked Mos- 
cow’s defenses, sold out to Washington, 
abandoned the Warsaw Fact, betrayed 
the army in Afghanistan, anti finally de- 


stroyed the Soviet Union itself. Thirty- 
one times tbe judge ruled that the ques- 
tions were irrelevant to the case and. 
inadmissible. 

“What exactly do you mean by a 
coup?” General Varenmkor asked at one 
point. 

“If you don’t understand, it’s useless 
trying to explain to yon,” Mr. Gorbachev 
snapped back. 


WORLD BRIEFS 


Mkndela Gacks Down on Violence 

that has ; 

tough ac6a ^ > S™? any0M ‘ 
asked to intervene ; 
after tayfaited to 


■race! 


After a Ml 'that accompamea oooin 

in has resumed m toiraships' 

S^nnwXX 11 people were killed when gimmem using 
oacare and taxi vans near Katlcbong 


township outride Johannesburg- 

Shuttle lifts Off With Array of Fish 

CAFE CANAVERAL. Florida (AP) — The shuttle 

Columbia Masted off Friday with an 

_c .1 — (ut. nnrM and SCSI UXCilitlS hMupiCICa fOT 


this science mission. 

It is the 63d 
Cohunbia, NASA's 


shuttle 
shuttle. 


in 13 


and the 17th far . 
holds four Japanese - 


43mc eras. IlSo baby sea urchms and_ 500 fhes. An equal 
xpndo*^ urinate wfll undogo ideotKad ^ 

pound as a ccnihri grow. 

Scientists are interested in 


Awm» the two-week research susaoo. Japanese biologists, for 
instance, want to see whether and how fish mate m weightlessness ' 

and what the offspring arc Kke. ; 


' a dispute Germany from jts 11 • 


Heckled, China 9 s Leader Shuns Germans 


Compiled by Our Staff Front Dispatches 

MUNICH — Shunning Ger- 
man officials for the third day 
in a row, Prime Minis ter Li 
Feng of China canceled his offi- 
cial program Friday and re- 
treated to his hotel after being 
heckled over human rights 
abuses in his country. 

Rather than face more noisy 
protests, Mr. Li backed out of 
an afternoon boat trip and a 
tour of a farm outride the city 
following a meeting with busi- 
ness-leaders, the Bavarian state 
press office said. He has been in 
Germany on an official visit 

It was the fourth time in three 
days that Mr. Li had either can- 
celed or walked out of events 
where he encountered protests. 

He left a dinner in Bolin late 
Wednesday, then canceled a 
stroll through the Brandenburg 
Gate and cut short a visit to 
Weimar on Thursday. 

Mr. Li is to leave Germany 
cm Saturday afternoon for Ro- 
mania, ending a trip here that 
was successful in dru mming up 
business but was a public rela- 
tions nightmare. 

Unlike the big rallies that led 
him to cancel parts of his itiner- 
ary in Berlin and Weimar, only 
five or six demonstrators 
showed up Friday at a pier on 
the Tegerasee Lake where he 
was to board his boat. 

German protesters had 
planned to place a two-meter 
(six-foot) copy of the Statue of 
Liberty on the dock at the lake. 

A similar reproduction was a 
focal point in 1969 of the pro- 
democracy demonstration in 
Beijing that Mr. Li and other 
Chinese leaders ordered 
crushed with tanks and troops. 

“The official program will no 
longer be followed,” a Bavarian 
government spokesman said, 
quoting the Chinese delega- 
tion's chief of protocol 

The five-day program began 
with a cordial welcome from 
political and business leaders 
eager to tap China’s huge 
emerging market Mr. Li’s large 
trade delegation signed about 
53.5 billion worth of contracts 


and declarations of intent with 
German firms. 

The Social Democratic lead- 
er, Rudolf Schaiping, who met 
Mr. Li in Bonn earner in the 
week, said be was astounded the 
Chinese prime minister had 
avoided demonstrations. 

“Somebody who moves 
around in a Western democracy 
must be able to cope with the 
conditions of a democracy,” be 
told the Hamburg Morgenpost 
Bonn and Beijing fnmsteri 
earlier that Mr. 0’s trade tour 


of Germany had been a success 
despite the Chinese leader’s 
conflict with protesters. 

“We had already classed tins 
visit as successful and we see no 
reason to change that,” said 
Chancellor Helmut Kohl’s 
spok esman, Dieter Vogel 

“Of course, the success of the 
visit wiQ only be proven when 
we see what is produced by the 
contracts and the business . 
talks.” 


He played down Mr. Li’s 
twithdrav 


abruptwimdrawals, saying pro- 


test demonstrations were nor-. 

mar) in ren »i fri«e like G ermany : ' . 

Chinese officials -also* 
brushed off the encounters as 
unimportant. 

“Premier Li Peng is accorded 
a hospitable and friendly recep- 
tion during his visit in Germa- 
ny,” a Chinese Foreign Minis- 
try spokeswoman said; 

“His visit is fruitful and is a 
complete success, and will May. 
an important role in poshing 
forward Sino-German rela- 
dons.” (AP, Reuters, AFP) 


BONN 
European 

Scaring ftatEUtrSe coridhe hindered by" the measure, die 

before it takes effect, w|jdThe win fikriy do since he has been 
pushing hard far the kgutatian. ' . . 

Germany has been, at odds since last year with the rest of the 
EU over “mad cow disease,” or bovine spongiform enoephalopar 
thy, wiridi has killed at least 1203000 cattle in Britain. The Union 


there is no proof the. 
beet 


can be transmitted to humans . 


PHNOM Paift ^AP ): sir TheJUmjed States expressed its. 
support Fridayfor Cambofia’s decision to outlaw Khmer Rouge 
g oa las, Cambodia’s Paffiament voted unanimously to make it 
megritobe a member of the guerrilla group inhopes of weakening , 
flic Khmer Rouge enough to end tbs 15-year civil war. 

A statement ntatseaDY the U.S. Embassy said: “The Khmer! 
Rouge have committed heuKHis crimes in the past and _ have 
contained an ytpei insurgency agymst Cambodia’s legitimate 
government, chosen by the Cambodian people in an intonation- 


Russia Offers Light- Water Reactor 


The Associated Press 

SEOUL — Russia is ready to provide 
North Korea with a light- water nuclear reac- 
tor to replace its outdated graphi to-moderat- 
ed one, the Russian ambassador to Seoul said 
Friday. 

Proposals to provide a new reactor are 
among efforts to settle tensions over the Corfr- 
munist North’s nuclear program. A light- 
water reactor would be safer and produce less 
plutonium, which could be used : to make 
atomic bombs. * O; * 


South Korea, the United States .and Japan 
are discusring plans to provide the North with 
a Russian-made reactor, South Korea’s sci- 
ence and technology minister said this week. 


The Russian ambassador, Georgi F. Kun- 
adze, said Friday that “Russia has the best 
light-water technology and equipment in the 
world, and we will actively cooperate when 
North Korea asks for our assistance.” 

Mr. Kimadze made the offer at a meeting 
of business leaders and diplomats. But he 
added that the North would first have to 
comply fully with international efforts to stop 
the spread of- nuclear weapons under, toe 
Nuclear NonprolifcratKHi Treaty. 

The NorthZasked for a light-water reactor, 
among its conditions for fleering Its nuclear 
p ro gram . The United Stales accepted the re- 
actor demand in principle. The two rides were 
to discuss the issue during talks in Geneva 
that started Friday. 


Beijing Cites Pact With Pyongyang, 


The Associated Pros 

BEIJING — China’s ambassador to North 


Korea stressed the importance of the treaty 

Norm 


under which the Chinese must crane to N< 
Korea’s aid if it is attacked, an official report 
said Friday. 

The ambassador, Qiao Zonghui, told an 
official gathering in Pyongyang that coopera- 
tion under the 1961 Chinese-North Korean 
treaty of friendship .and m utua l assistance 
“has a far-reaching effect on the maintenance 
of peace in Asia.” 

Mr. Qiao’s remarks, quoted by the official 
Chinese press agency, Xinhua, represent an- 
other signal from Beijing that it could take 
North Korea’s side if the international dis- 
pute oyer the nuclear program flares up. 


(■Under the treaty, North Korea and China 
are committed to offering one another imme- 
diate military and other, assistance in the 
event of an attack. The pact docs not apply if 
either country is die aggressor in a war. 

Xinhua paraphrased Mr. Qiao as saying 
that China would “spare no effort to further 
strengthen” its friendship with North Korea. 

Other Chinese leaders have stressed the 
long-standing ties between China and North 
Korea. 


. On Friday, Vice President Rang Yiren of 
Chirm told visiting North Korean economic 
officials that “stronger Chinese-Korean tics 
of friendship are in accord with the funda- 
mental interests of the two peoples,” Xinhua 
repeated. 


ally recognized act of setf-detenubtaticn.” 

The Cambodian government was elected in a United Nations- 
ocgazuzed poll in May 1993 thrt the Khmer Rouge boycotted 
J — - — ing a peace accord anthorizmg the election. It has been, 
I new a dmini st r a tion since it was formed. 


Oil-Worker Strike Bites in Nigeria 


LAGOS(IUulera)— lines of ydridesfonoed at gas stations in ' 
Nigeria for die IStitcbhsecadfoe <fey Rriday despite steps by the 
munary government to counter* stnkcby oil workers demanding ■ 
.the release of Moshood K.O. Absda, the businessman widely . 
believed to have won last yen's annulled presidential election, j 
The strike by lheJSQ,860-streng National Union of Petroleum 
and Natural Gas Workers has brought long lines at gasoline ^ 
stations throughoutthe country. The workers called the strike to : 
prpss for 'the release; of One# Afeiola; who was arrested June 23 
and charged tins week with treason. . ^ 


At least one youth was lrihed Thursday: during a protest in vj ^ 
Lagos afpinst die detention of Chief Abkdn. The unrest started ■ 
when youths, who joined a pro-democracy march by hundreds of ■ .. 
lawyers, threw stones at the police - . ! V ., 


Correction 


•: ,.i ~ _ 


A New York Times article in the IHTs editions of July 7 
incorrectly stated that tetinhttua aarLBstoma place heavy restrio- ; 
tioqs on ritizensfaip for etinric Rnssiazis in those countries. 


TRAVEL UPDATE 


Strike k Flai 


III : rl I 


at French Airline • 

PARIS (AFP) -—.The French domestic airline, Air Inter, wfll- 
redtice iu number (rf flights a, third on. Tuesday, vriiea wrakers i 
plan to stage a 24-hour strike to protest der^ulation, the airline- 
said. 

The company said it was asking passengers either to confirm! 


^ # 




their reservations for July 12 or trsydonJuly li or July 13. 

-• The European Gdnsmssiou has ordered Air Inter to end its; 




Rwanda Rebels Agree to a No-Fight Zone 


CompBtdby Ota Staff From Dispatches 

KIGALI Rwanda — Tutsi-led rebels 
agreed in principle Friday to recognize a 
no-fight zone that would restrict their abil- 
ity to attack the remnants of the govern- 
ment army. 

The agreement was the clearest signal 
yet that Rwanda’s ethnic war may be near- 
ing an end, a United Nations special envoy 
said Friday. 

UN officials need a cease-fire to dear 
the way for relief aid to reach an estimated 
1.8 million Rwandans fleeing rebel ad- 
vances. With 900,000 refugees pouring into 
a safe area in southwest Rwanda guarded 
by French troops, France urgently ap- 
pealed for help in caring for the displaced. 

The protection zone would cover almost 
the entire western swath of the country still 
under government control, the UN envoy, 
Shahiyar Khan, said. 


He said the protection zone had been 
approved by the-interim government and 
by French troops. 

Unresolved issues still block a cease-fire, 
but Mr. Khan said he believed the govern- 
ment and rebels were dose to agreement 
on a cessation of hostilities. 

One condition for a truce was that the 
Hutu mfHtiam en blamed for the slaughters 
and the government leaders who inched 
the massacres be captured and punished, 
Mr. Khan said. 

Mr. Khan said the Security Council 
would send a team of judicial experts to 
Rwanda to try to bring the Jailers to jus- 
tice. The rebel Rwandan Patriotic Front 
has not fully agreed to the UN plan, but 
was receptive to it, Mr. Khan said. . . 


private aid agencies and appealed to them 
to supply the 500 tons of rood he said the 
nation needs daily. 

- Prime Minister Edouard Bahadur is to 
travel to New York on Monday to make 
the case before the UN secretary-general, 
Butros Butros GhaH, and the Security 
Council that France’s Hiimanimrifln goaic 
in Rwanda have been substantially met. It 
is now up to the international community 
to take over the mission, officials said. 


monopoty on its most profitable routes by November, and to. 
continue service on lesHprofitable routes as a public service. A : 
strike on May 17 farced the cancellation of aU flights, and another ! 
on June 7 reduced service by half. T . 

^ FtenploBM, Spain, as thqy! 

dashed through theatzeets ahead of a herd of buBs, bringing to 12 1 
tiie n u mb er of- people treated at hospitals for imuries received ! 
during the.ctiy’s annual bufi runs.. _ .. r : .{APj\ 

ferace w9 new traffic laws on Monday, as thdg 

Trench take to the highways for their annual summer vacations. , 
The laws aim to reduce accidents caused by dnmken driving and ■ 
^ >ee tiing. (AP) i 






The fmficeTn 


In Paris, Foreign Minister Alain Jimpf 
of France met with representatives of 17 


“The contract is fulfilled, Hyes have 
been saved, the safe zone is secured — now 
it’s up to the UN,” said an official. 

Mr. Jupp6 said he received information 
Friday from the United Nations that a 
multinational ' peacekeeping force' would- 
be ready to rdieve die French by early 
August. 

(Reuters, AP) 


pda have called for rign at border check- . 
uu of highway robbery. A police spokeswoman • 

***** “^74cases of aaned robbery had been reported so far this ) 
year, and, that 13 people were killed m ro adside l^e t year. < 

(Ratters) \ 

^®*9^ £4 ^ fc “^®V«®hage i iistoopea for a winter season for ‘ 
theficst time m its 150-year history, officials sauLThe amusement - 
P 8 ™* usually open from late April to mid-September, plans to ’ 
stage an extra soc-week winter season from mid-November until ■ 
the end of December this yean (Reuters) 

FifdtfctmfatorartloBri Ahfiau wffl resmae flights to Lebanon io, 

late July aftcr a 20-ycar break. The first flight is scheduled for Jal>5 
27, .anti ng an d Lebanese officials said. In September, the Swiss'” 
national earner; Swissait, will also resume flights to Le ba non. ■ 

- - ••••"' (AFP) . 


V 




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Care for Smokers: $50 Billion Price Tag in ’93 


‘ ' ' *“ 


v i Mikr Thdfcr/Rcwefk 

GETTING THE HOLY TOUR — KBflary Rodham Qinton listening to Father 
Diomede Foffiere, left, and Brother Carlo Fenicno during a viat Friday to die dradi 
of Santa GUva in Naples, where her husband a attending the G-7 summit meeting. 


'*+ 


* ^4 


rot me n motes 




California Stub* Out Smokers 


■■.V. 


. r ^ 


SACRAMENTO, Califqnua — Oahniwt* 
V ing a long legislative battle, Cififomfc’s ft»- 
T sembly ap pro ved a Mrore statewide ban jotn 

mrmiring joi MtM Urini^ nBtt 
workplaces, ’"?* *•»«■ 

After more than*- 

twisting and arguinx,! 

cleared the Assembly an a 48-22 vote, and 
now heads to Governor Fete^bonrs dedc 
Exempted from tho ban are bars, botch, 
warehouses in which 20 or fewer employees 
work and businesses that employ five orfewer 
where all agree to 






a yearlong ad campaign sponsored by the 
Health tnairance Association of America. 

- has lost bis job aadjMnjLftdl bo^ycastaftex 
.... anaoddenL Louise, whose aim is in a sling, 
,:£Q}^Jatoft9.sbe quotes hack his disparaging 
^iKXw^eata ab^niMr-' Omtcn’s promise of a 
.. gp y qg ninen frgBaraiitee of health insurance far 
everyone ^finaBy rolling Mm ont of bed and 
■ onto the floor. ' . 

.. —“You said you'd never lose your job so we’d 
always be covered," Louise says. “You said, 
•What -would we do when the government 
runs out of money? .Well, who’s out of money 
now, Harry r 


i ffritmm are not allowed. In addi- 
ti o n , the- bHl also would permit smoking-in 
theaters and movie sets where amolrinR is part 
of the production; tobacco drops; 
research fadlities looking into the e 
fwrtKng , mid mu ring hiwriaa- 
Tbo legislation retains a provision allowing 
cities ana counties to impose tougher smok- 
; restrictions. 


. Tlw^ui concludes with an announcer 
ing: TTctt Congress 


you want what they al- 
ready have *— the security of affordable, uni- 
versal health care.” (WP) 


; effects cf 


A M.V. P— th Panatty Vote? 


Assemblyman Terry Friedman, -* 
L first introduced ms bin last 


Democrat, first introduced ms buHasi year, 
even his suppor te r s doubted he would be 
successful, given the tobacco industry’s tong- 
history of anting anti-tobacco bills in Sacra- 
mento. • - : 

The tobacco industry fought hard, seating 
teams of higb-priced lobbyists from Sacra- 
mento and Washmgton to kill Mr. Fried- 
man’s measure. On - several occasi ons . 



Friedman lineup 
promises and 


Whit* Hou— Spoofs a TV Spot 


WASHINGTON — The Wtote House has 
? launched a coonierstrike against the ‘Harry 
and Louise” television commercials opposing 
President BiU Qintpn’s health-care plan and 
geared up arrangements for abus caravan, led 
by the president and Hfilaiy Rodham Clin- 
ton^ to put pressure on Confess to pass some 

version of his proposal. _ _ . 

The Democratic National Committee in r 
troduced a 30-second TV spot, made by Har- 
ry Thranasson, a Mend of the Omtou whois 
a Hollywood TV producer, that nduules the 
Harry and Louise characters made famous m 


ALBANY, New York — In an election 
year, when his staunch opposition to the 
death peoaltyhas become a major issue* Gov- 
ernor Mario M. Cuomo has proposed that 
voters he allowed to decide the maximum 
sentence for murder. 

The proposal comes a few days after the 
state lemialure adjourned without passing 
most of Mr. Cuomo’s crime agenda, including 
bQls that would have required life sentences 
without parole for three-time violent offend- 
ers. . . 

.. Mr. Cuomo, a Democrat seeking his fourth 
term, said be would ask the legislature to pass 
a constitutional amendment that would set 
the maximum penalty for murder. Hie law- 
makers may, return next month to deal with 
u nflm«bpd business; including a constitution- 
al amendment to byiifca casmo gambling. 

- “Howcome casino gambling is more ua- 
rtant than this issuer* Mr. Cuomo said in 


portant — 

an interview. “Don’t you see the hypocrisy of 
if? They say this will make you safe,but for 12 
years we’ve denied you the right to vote for 
It.” (NYT) 


Quota/Unquota 


BarbaraRussomando, a student at a public 
school in Naples, after meeting HSLiaiy Rod- 
ham Qinton: “She was very motherly, not at 
all official looking.” (AP) 


- 


Cameron 





La AngckiTun* Strike 

LOS ANGELES —Cameron 
Mtcbefl, 75, a veteran charac- 
ter actor perhaps best raaop- 
bered for ms role as Happy m 
both the stage and screen ver- 
sons of “Death of a Salesman, 
died of tog 

at his home in suburban los 
A ngeles. 

Mr. Mitchell assumed aunty 

aasKJKrtg 

from Westerns to tie ■ **»“* 

“Les Miserables w ^totoc 
lighter “How to Many « MJ 

hSaire" in 1953 to the reof 

Jigger in "CarouseT m 1956. 
Other films indaded “Wha| 

Next, Cbrporal Hargrove, and 

Expend^o 

, . r J u-a Me errtea deoat 


iney ww* 

which natal to screen (tout 
m 1945. “Homecoming, 


“Command Decision," “Ofana- 
wa," “Outcasts of Poker Flat,” 
“Powder River,” . “Hell . and 
High Water, 7 ’ “Garden of Evil," 
“Desiree,” “Strange Lady in 
Town," “Love Me or Leave 
Me.” “House of Bamboo,” 
Tall Men," and “AS Mine 
toGte.” 

Dirk van Zyl, 6H, Survived 
23 Years Wffli New Heart . . 
CAPE TOWN (AP) — Dirk 

van Zvi 68. the woriffs lon^st 
surviving heart transplant pa- 
tient, med Wednesday in a 
ranting borne, 23 years after the 

operation. % \ 

. Mr. vab Zylbadreoentiy suf- 
fered a stroke that left him par- 
alyzed on his left side, and his 
Amth was not caused by heart 
failure, bissonsaicLV 
„ Mr. van Zyl reedveda jjew 
bean in a 1971 operation per- 
formed by the pioneering sur- 


geon Dr. Christiaan Barnard. 
He was Dr. Barnard’s sixth 
transplantpatient. Dr. Barnard 
performed the world’s first 
heart transplant m 1967 at 
Groote Scnuur Hospital in 
Cape Town*- 

WHBam Graf, 82, a producer 
whose'movies include “Law- 
rence of Arabia,"' “Bom Free” 
and M A Man for AB Seasons," 
died July 1 in Los Angeles of 
heart failure. 


MEMORIAL NOTICE 


A memorial service 
wfllbeheWfar 


John PfiZIIIPS 


nn Wednesday, July 13, 

.. .. at 1MD 
1 aiiheAmericm Caihedral, 
2? aYcriucOe* V, ParisK. 


By Philip J. Hilts 

Sev York Times Service - 

WASHINGTON — The cost of 
health problems in the 
United States was at least $50 billion in 
1993, twice as much as estimated for 
previous years, according to a new fed- 
eral survey. . ... 

The Centers for Disease Control and 
Prevention, an Atlanta-based agency of 
the Department of Health and Human 
Services, released the data, saying the 
estimate was based on a survey of 35,000 
people, the most extensive to date; 

it also is the only smvey that has 
counted only actual medical bills, mak- 
ing it the most accurate estimate ever 
dozKvaaid Dr. Thomas Novotny, a lead- 
er of the study. 

The study made these findings: 

• Smoking accounts for at least 7 per- 
cent of all health care costs in the United 
States. 


• •The federal government and state 
governments pay for more than 43 per- 
cent of ail smoking-attributed medical 
expenditures and more than 60 percent 
for those over the age of 65. 

• Most of the costs from smoking are 
for hospitalization, 54 percent; doctore’ 
bills, 31 percent, and nursing home ex- 
penses, 10 percent. 

The study was conducted by the dis- 
ease control agency and researchers 
from the University of California at 
Berkeley and the University of Califor- 
nia at San Francisco, using information 


gathered by the federal government's 
National Medi< 


(edical Expenditures Survey 
from interviews with 35,000 people in 
1987 and 1988. The figures were then 
adjusted for inflation to reflect the value 
of the dollar in 1993. 

In the survey, each person was inter- 
viewed four times in a one-year period, 
and described their health problems and 
expenditures. The expenditures were 
then checked against medical records. 


To estimate bow much of the expendi- 
tures could be attributed directly to 
smoking, the researchers put respon- 
dents into four categories: those who 
never smoked, those who smoked for 
less then 15 years, those who smoked for 
more than 15 years, and those currently 
smoking. 

Then they added up the chief medical 
expenses of those with the most smoke 
exposure who bad one of five diseases; 
heart disease, emphysema, lung cancer, 
arteriosclerosis and stroke. 

The share of their medical expenses 
attributed to smoking was determined 
by first subtracting for other risk fac- 
tors. For example, if a person was a 
smoker and also obese, the percentage 
of the spending attributed to smoking 
was less than it would be if the smoker 
was not obese. 

Dr. Novotny said the figures that re- 
sulted were “very minimum estimates” 
and were likely to be lower than the 
actual costs. 


He said that some medical problems 
attributed to smoking were not counted, 
like bums from fires caused by ciga- 
rettes and low birth weight or other 
infant health problems caused by a preg- 
nant woman's smoking , 

Dr. Novotny said the total economic 
burden of smoking is at least twice their 
$50 billion estimate. Other costs that 
should be included to reach a total esti- 
mate, he said, would be $6 billion more 
in estimated costs associated with sick 
days, and S40 billion in costs associated 
with premature death because of smok- 
ing. 

The agency’s figures are likely to be 
important to states that have passed 
laws permitting them to sue tobacco 
companies to recover money the states 
have spent for health costs linked to 
smoking. 

Dr. Novotny said that slare-by-siate 
estimates of the costs of smoking would 
be available within a few weeks. 


Reverse Flight? Heron Pair Picks Manhattan to Nest 


By James C McKinley Jr. 

New York Times Service 

NEW YORK — Charles Francis Kennedy was the 
first one to spot the two herons craning and going on 
their elegant bowed wings from a pin oak near the lalc»» 
in Central Park. He crept up through the trash-strewn 
underbrush to get a closer look through his binoculars. 

He couldn’t believe Ins luck. A nest 

Tbc word traveled fast through bird-watching cir- 


cles, and soon everyone who cared about such things 
was trooping quietly to 


ly to the spot to spy on the loving 
ne of 


.pair of green herons and their brood in a home 
twigs. 

Bird watchers had never seen a pair of green herons 
nesting in the park in the 100 years they have kept 
records, although the birds have sometimes been seen 
: through on a migratory trail in the spring and 


*This is a rare and wonderful thing," said Elizabeth 
Barlow Rogers, the administrator erf Central Park. 
‘There are mysteries in the park and the mysteries are 
really wonderful” 

It is not a place one would expect to find herons 
nesting, ornithologists say. Although the green heron 
is a relatively common wading bird that ranges 
throughout North America and has been found in 


secluded spots near the city, it prefers quiet woodlands 
near ponds, inlets, swamps or wetlands, far from 
human intruders and noise. 

Yet there they are, two feathery urban pioneers who 
have forsaken the sheltered backwaters where their shy 
brethren usually roost. Paper cups and trash and used 
condoms litter the lake snore near the nest Jets roar 
overhead and the rumble of distant traffic never ceas- 
es. 

Closer by. a constant stream erf pedestrians, joggers 
and bikers passes on a roadway just a few yards from 
the spot where the heron pair decided to settle down 
and raise a family. 

In the late 1970s, a longshoreman spotted a lonely 
pair of herons nesting on an island in the Arthur Kill, 
Lbe narrow body of water that separates Staten Island 
from New Jersey. Since then, wading birds have made 
a steady comeback on the city’s islands and coastal 
waterways as water pollution has eased, bird watchers 
said. 

Last year, the New York City Audubon Society 
counted 2,065 nesting pairs of herons and egrets on 
five islands in the Arthur Kill and the East River, up 
from 1,400 pairs in 1988. But only four of the pairs 
counted last year were green herons, and never nave 
any herons been known to breed in the heart of the 
metropolis. 


“If you set some land aside and manage it properly, 
there is a spectacular array of wildlife that can survive 
right here in the city, and these green herons are 
symbolic of that,” said David Burg, president of the 
local Audubon Society. 

The herons are lanky 14-inch-long (36-centimeter- 
long) birds with yellow feet, chestnut necks, white 
throats and gun-metai gray bodies, and — when 
alarmed — a sha gg y crest They have a teal patch on 
their backs that gives them their name . They feed on 
minn ows and other fish. 

The nest is full of five mouths to feed, a writhing 
mass of gawky chicks, silently gaping for food and 
exercising their immature and semipl umed wings in 
preparation for flight 

Mr. Kennedy first spotted the nest on May 28, and 
the first young heron hatched soon after. By next 
week, the young should be leaving the nest, bird 
watchers said. 

No humans have tampped with the nest, but this 
being New York City, it’s a tough neighborhood 
anyway. 

A few weeks ago. a black crowned night heron tried 
to eat the young green herons, said Sarah Elliot, a 
longtime chronicler of aviary antics in the park. The 
parents beat bade the interloper in a daylong ski rmish 
that left bird watchers jittery. 


Blood at Scene Is Strongest Link Yet to Simpson 


The Assoc ia ted Press 

LOS ANGELES — Blood 
found near the bodies of O J. 
Simpson’s former wife and a 
friend of hers matched Mr. 
Simpson's gfnatic char&cteru- 
testi- 
fewer than 
people has such a 
combination of markers. 

- Later, an' emotional Mr. 
Simpson wiped his eyes, sighed 



son’s body dad in a short black 
dress and black underpants. 
Relatives of Mrs. Simpson and 
Mr. Goldman leaned forward 
in their seats, their faces in their 

hands. 

■ The blood testimony by 
'Gregory Matheson, a police in- 
vestigator, was the strongest ev- 
idence introduced so far to link 


Mr. Simpson to the crime scene. 
The blood was found on the 


deeply and looked away as he 
heard 


gruesome testimony 
Nicole 


about a fatal slash across 
Brown Simpson’s neck so deep 
that it reached her spine. 

Dr. Irwin L. Golden, a medi- 
cal examiner who performed 
the autopsy, described a “gap- 
ing wound" that severed both 
arteries in hex neck, causing ex- 
tensive blood loss. 


.The __ 

trail leading away from the 
bodies. The combination of the 
three tests excluded Mr. Gold- 
man and Mrs. Simpson as the 
source of the blood spot, Mr. 
Maiheson said. 

He said the three markers ex- 
ist in only 0.43 percent of the 
population. 

*With respect to the defen- 
dant, could ne have been the 


source of the blood drop that 
was found at the trail at 875 
South Bundy?” asked the Dep- 
uty^ District Attorney Mazda 

“Yes, he can be included in a 
group of possibles," Mr. Maih- 
eson testified at Mr. Simpson’s 
preliminary hearing. Mr. Simp- 
son has pleaded not guilty to 
the June 12 murders. 


in pointing out that the test re- 
sults rally < 


A defense attorney. Gerald 
Uelmen, objected to allowing 


the 0.43 percent figure, sayin^t 


was improperly calculated, 
judge overruled the objection. 

Under cross-examination, 
Mr. Matheson acknowledged 
that 40,000 to 80,000 people in 
the Los Angeles area had the 
same genetic markers. 

Mr. Uelmen also succeeded 


rally exclude sources of 
blood rather than precisely 
identifying the source. 

“There’s nothing here that 
would individualize a stain to 
one particular person,” Mr. 
Matheson said. 

“So any attempt to analyze 
this to fingerprints or precise 
identification of a person would 
be inaccurate. Is that correct?" 
Mr. Uelmen asked. 

“Thai’s correct,” Mr. Mathe- 
son replied. 

Mr. Mathesos’s testimony 
was based on standard blood 
typing and two enzyme tests 
but not on more sophisticated 
DNA tests. 

With the state nearing com- 
pletion of its presentation at the 


preliminary hearing, prosecu- 
tors must provide a direct link 
between Mr. Six 


their key. 


Simpson and the 
killings to support holding him 
for trial. Blood analysis may be 


“This is a fatal wound," Dr. 
Golden said. 

He said Mrs. Simpson also 
had four stab wounds on the 
right side of her neck, a bruise 
on the right side of her scalp, 
three cuts on the back of her 
bead, as well as cuts and abra- 
sions on her bands. The hand 
wounds appeared to have been 
inflicted as she tried to ward off 
the attacker or grab the weap- 
on , Dr. Golden testified. 

Ronald Goldman, a friend of 
hers, died from one or the com- 
bination of two wounds on the 
left side of his neck, one of 
which severed a jugular vein. 
Dr. Golden said. 

: Stab wounds on both bodies 
indicated a single-edge knife, he 
said. 

He said a folding knife with a 
6-inch (15-centimeter) blade 
shown to him by homicide de- 
tectives was compatible with 
some of the wounds on both 
victims. 

A deputy district attorney, 
William Hodgman, asked about 
the knife without specifying if it 
was the stiletto model witnesses 
said that Mr. Simpson bought 
at a cutlery store in May. 

Mr. Simpson grew increas- 
ingly grim as the medical exam- 
iner testified. He became an- 
guished when Dr. Golden 
seeing Mrs. Simp- 


Away From Politics 


Wash! 


nzton had the worst mail service of any city in the 
this spring, according to a recent survey. In the 


country this spring, ac 
quarter ended May 27, only 60.56 percent of letters sent to 
addresses in the city arrived on time. “On time" means 
overnight delivery within a metropolitan area, two days for 
delivery within 600 miles and three days beyond 600 miles. 
The 10 worst areas for mail delivery, in ascending order, are: 
•Washington; Manhattan, New York; Chicago; Newark. New 
Jersey, Philadelphia; Westchester County, New York; Balti- 
more; Long Island, New York; northern Virginia, and 
Queens, New York. 

• A Sand Arabian diplomat seeking asylum in the United 
States claims that secret documents he saw on the job prove 


that Saudi Arabia paid for terrorism aimed at disrupting 

icribeo ti 


Mideast peace efforts. Mohammed Khilewi described the 
terrorism to the U.S. Immigration and Naturalization Service 
during a hearing in New York, according to Ms lawyer. Mr. 
Khilewi said he feared for his life after speaking out against 
human rights violations in his homeland. 

• A Boy Scout leader who was expelled after revealing his 
homosexuality was awarded $5,000 by a court in San Diego. 
The court said California’s rivD rights law prohibits the 
Scouts from discriminating against homosexuals. The Boy 
Scouts planned to appeal. 

• Arkansas plans to put three kiBers to death on the same day 
next month m the first triple execution by a state since capital 
punishment resumed in the United States in 1977. 

• A Branch Davk&an cult member, Kathryn Schroedert, was 
sentenced in Waco, Texas, to three years in prison and three 
years supervised release for her role in the standoff with 
federal agents in Waco last year. She was also fined $5,000. 

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Page 4 


SAXURBAY-SUiyPAY, JULY 9-10, 1994 


O P I \ I O N 


Reralb 


INTERNATIONAL 



tribune. 


PUD LUSHED WITH TMh SKW W)BK TIMES AND THE WASHINGTON POST 


America and Europe 


B£0 Clinton is on a major mission in 
Europe whose purpose is nothing less 
than to advance the structure of the fu- 
ture Europe. In the first flurry of excite- 
ment after the Beilin Wall came down, it 
was tempting to think that a single cheer- 
fid new world might emerge more or less 
by itself. By now it is clear that the old 
demons have survived and new complex- 
ities have arisen. It falls to the United 
States to deal with Europe as it is. 

Mr. Clinton began in Latvia, a country 
newly free, deeply uneasy about Russian 
power, anxious to gel the Last Russian 
troops off its soQ. There he stepped for- 
ward as a mediator, urging the Russians to 
withdraw but at the same time pressing the 
Latvians to respect the civil rights of the 
Large Russian minority living among them. 

The next stop was Poland, desperate to 
join the two seat Western institutions, 
NATO and the European Union, that 
made the other half of the continent se- 
cure and prosperous during the Cold 
War. Poland’s president. Lech Walesa, 
eloquently urged President Clinton not to 
relegate the former Soviet satellites to “a 
gray area in a security void, a nowhere 
land where anything can happen.” 

From Warsaw Mr. Clinton, flew to Na- 
ples for the annual meeting of the beads of 
the seven big industrial democracies, a 
meeting supposedly on economic policy. 
But the serious discussion this year is likely 
to have much more to do with the political 
framework for Europe. Mr. Clinton's mis- 
sion goes to the reshaping of the great 


multilateral institutions expressing the in- 
terests of both Americans and Europeans. 

The seven democracies are now mov- 
ing to bring Russia more deeply into their 
consultations, and President Boris Yelt- 
sin mil be present. Are the Eastern coun- 
tries served best by extending NATO and 
the European Union to include them? 
One test case, certain to be much dis- 
cussed at Naples, is Ukraine. Its economy 
is in chaos, its government resists essen- 
tia] reforms, and its decrepit nuclear reac- 
tors at Chernobyl are emerging as the 
great symbol of the risks in letting its 
downward slide continue. 

From Naples the president goes to 
Germany, where he will speak at the 
Brandenburg Gale, until four years ago 
the emblem of Europe’s division, now 
the most dramatic emblem of its new 
unity. Regrettably, Mr. Clinton has yet 
to produce a NATO-expansion timeta- 
ble and, no less important, an apprecia- 
tion of the enduring geopolitical reali- 
ties to match the urgency that Central 
Europe feds about its future. 

Just as in the Baltics Mr. Clinton con- 
veyed the message that freedom brings 
hardens as well as rewards, so In Poland 
he received a like message from Mr. Wa- 
lesa. Tbe Polish president reminded him 
that America is “still indispensable” to 
taking Europe beyond the restoration of 
sovereignty and democracy to “a grand 
vision of a unified continent.” This is the 
core requirement of American policy. 

— THE WASHINGTON POST. 


Latvia and Its Russians 


Latvians cheered President Bill Clin- 
ton in Riga on Wednesday when he 
pledged partnership with the Baltic re- 
publics to keep than forever free. But 
there was stony silence when he appealed 
to them not to “deny to others the justice 
and equality you fought so hard for and 
earned for yourselves, for freedom with- 
out tolerance is freedom unfulfilled.” The 
others he referred to are ethnic Russians, 
left behind by a receding empire, who are 
the objects of Latvian intolerance. Lat- 
via, understandably resentful about its 
past, is right to want all Russian troops 
out But it is wrong to avenge the past by 
riismmnmting against Russian residents. 

In a land of just over 2 million people, 
Latvia has 700.000 Russian-speaking resi- 
dents. Some are military retirees who have 
settled there. Others are Latvian-born de- 
scendants of workers sent to Russify the 
country decades ago. Under proposed leg- 
islation, some 300,000 of them will have 


There are reasons for this. Latvia did 
not just suffer loss of independence in SO 
years of Soviet rule. Many of its people 
were exiled to Siberia and elsewhere. It 
struggled to keep its language and culture 
vital under pressure of Russification. 

Even in America, immigrants have 
faced discrimination and bigotry. But 
Americans know tbe dreadful price of eth- 
nic exclusivity; when allowed to flourish, it 
has been a divisive and destructive force in 
their society. They can plead with Latvia 


to rise above its painful recent history and 
of ethnic dif 


to apply for citizenship, but quotas will 
ickle to be naturalized. As 


allow just a trickle 
resident aliens they face discrimination in 
jobs, education and housing. 


be tolerant of ethnic differences. 

Americans distrust leaders who exploit 
hatred of “the other” — those of a differ- 
ent ethnicity — to gain power. Especially 
in Eastern Europe, where no country is 
ethnically homogeneous, efforts to ex- 
dude the other will only give pretexts to 
neighboring natio nalis ts to protect their 
kin across the border — or even lead to 
new Bosnias. Regardless of past wrongs, 
for Latvia to deny its Russians rights is to 
invite trouble while impeding dose part- 
nership with the United States. 

— THE NEW YORK TIMES. 


Search, Seizure and O. J. 


The prehmmary hearing in the O. J. 
Simpson case has provided a mini-semi- 
nar on the Fourth Amendment. The con- 
stitutional protection against unreason- 
able search and seizure is one of the most 
important rights enjoyed by Americans, 
and at times one of the most resented. 
Reasonable people who would be ap- 
palled if the police burst into their homes 
and started opening drawers and search- 
ing wastebaskets are often less supportive 
of the amendment when it provides tbe 
same protection to people accused of 
crime. Some followers of the Simpson 


case were undoubtedly impatient with 


days of testimony and hours of debate 
among criminal law experts on tbe ad- 
missibility of evidence taken from the 
home of the accused. It is powerful evi- 
dence, and if Judge Kathleen Kennedy- 
Powefl had not decided as she did on 


Thursday to admit it, the public's confu- 
ent might have escalated. 


way and important evidence was kept out 
because of a defect in the search? That sort 
of thing happens, and occasionally people 
go free who might have been convicted if 
evidence obtained during a tainted search 
had been admitted. That outcome is al- 
ways difficult to accept, but on balance the 
prohibitions in the law serve tbe public 
wdL The inadmissibility of illegally ob- 
tained evidence provides a powerful deter- 
rent to abusive, warrantless searches. No 
other sanction works as well, for it com- 
pletely nullifies the reason for the search. 
Very infrequently, the rule on admissibil- 
ity ruins a prosecutor's case against a per- 
son who is really guilty. But that is a pice 
worth paying to protect the right of all 
citizens to be secure in their homes, free 
from the kind of government intrusions 
that prompted tbe founders to add the 
Fourth Amendment to the constitution. 


sion and resentment might 1 
The judge was right to take her time in 
ruling on the defense motion to suppress 
the evidence, for the events leading to the 
contested search are complicated. In ret- 
rospect, the police probably did have 
time to obtain a warrant, which would 
have averted this controversy. But they 
did not know that at the time, and made a 
reasonable assumption that bloodstains 
on Mr. Simpson’s car and on the pave- 
ment outride his home meant trouble. 
They testified that they feared he might 
also have been wounded or killed, and 
that it was imperative that they go inside 
to find out without waiting for a warrant. 
Exigent circumstances (emergencies) are 
one of tbe exceptions to the general prin- 
ciple that warrantless searches taint the 


— THE WASHINGTON POST. 


Other Comment 


Russia Still Underachieves 


evidence obtained, and the judge ruled 
lied in this 


that the exception applied in this case. 
Her decision is not final, of course, since 
the same pants can be raised later when 
the case goes to trial. But for purposes of 
deciding whether a trial is justified, the 
challenged evidence will be considered. 

What if tbe decision had gone the other 


[One] way in which foreigners can 
help is by using every opportunity gent- 
ly to probe Russia's leaders on what 
they mean when they claim that theirs is 
a “great country" — which they do both 
for internal reasons and when trying to 
muscle their way into Western clubs 
such as tbe Group of Seven. It is a 
dangerous and misleading claim. 

Greatness should be measured not by 
the amount of fear a country inspires in 
its neighbors, but by the vigor of its 
civilization and the humanity and com- 
petence with which it conducts its af- 
fairs. That requires an economy that is 
both efficient and just. 

Without that, Russia will always look 
like an underachiever — and, inciden- 
tally, a country not fit for full member- 
ship of the Group of Seven. 

— The Economist (London). 



International Herald Tribune 

ESTABLISHED J&7 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 
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o* 


Really, the Only Bosnia Plan on the Table 


P ARIS —The “peace ultimatum” to the 
Bosnian combatants, announced on 
Tuesday in Geneva, has already provoked 
criticisms that it abandons the moral prin- 
ciple that aggression and ethnic cleansing 
should not be 


By William Pfaff 


The elaborate plan for geographical and 
: partition of V 
state bot 


ethnic partition of Bosnia inside its existing 
Dundaries, issued by the United 
States, France, Britain, Germany and Rus- 
sia, awards the sdf -proclaimed Serbian Re- 


public of Bosnia a considerable part of the 

id pur 


force and purged of 
Muslims and Croats through tenor. 

However, those who criticize President Bill 
Qintoa and other Western leaders for agree- 
ing to this plan are mostly those who also 
refuse to have tbe United States, or anyone 
else, conduct the nriliiary operations neces- 
sary to correct the plan's injustices. In the 
absence of an outside commitment to reverse 
ethnic cleansing, the criticisms are unwar- 
ranted. This plan is the only one on the table. 

Much, is wrong with it It quite possibly 
will prove stillborn. If it survives, the surviv- 
al will be feeble. However, it is the only 
program the major powers have been able to 
agree on, and the only one they have com- 
mitted themselves to enforce with peace- 
and air power. 

it promise may be doubtful in the 


Americas case, despite the commitments 
given by tbe Ctinton administration. While 
Congress takes a strong line on arnring Bos- 
nians, it takes a different line on putting 
American troops at possible risk. . 

There is already a disagreeable element of 
demagogy in congressional calls for unilat- 
eral U.S. renunciation of the arms embargo 
on Bosnia that ignore the vulnerable situa- 
tion of tbe relief agencies and United Na- 
tions troops deployed there. 

There mil be oo unambiguous “yes” to 
this plan from any ride. The Serbs may- 
reject it outright. The plan requires them to 
give up a third of the 70 percent of Bosnia’s 
territory that they now control 

Even if Serbs, Croats and the Sarajevo 
government all accept the plan, they cannot 
be expected to respect it, except when to do 
so sints the interests of all A Bosnian gov- 
ernment official has said: “Well sign and 
then ignore the agreement. That’s moat ev- 
eryone has done in this war so far.” He is 
perfectly correct, and that is what is likely to 
happen. But that stOl would mean muted 
war in place of all-out war. 

The {dan’s demand that refugees and the 
“ethnically deansed” be allowed to return 


to thtSr.homes will certainly not be respect- 
ed. This is one of the flagrant hypocrisies 
embedded in the plan. The Sabs have not 
gone to tbe trouble to drive non-Serbs out of 

X ' ns daimed for Serbia only to meekly 
t thorn bade, at foreign behest But 
what Muslim would want to go home; if the 
Serbs are' in control? The Muslims nonethe- 
less are not going to give up their claim, to 
. cities where they once were the majority. 

. . This plan must be seen as a program for a 
pause m the war, not for ptttce. A pause 
suits the major powers because it will get the 
problem off the television and front pages, 
-and appeasepublic opinion. President Gun- 
ton is not the only head of government 
under public and legislative pressure to 
solve tie war without inconvenience to die 
public or the necessity for politically com- 
promising votes by legislators. ; 

However, it is necessary to ask if all of the 
powers involved in drafting this plan are 
willing to apply the measures threatened in 
the case oT Serbian refection. If the arms 
embargo is lifted and NATO employs air 
power against' Serbian violations of, UN ' 
exclusion zones, flic war will enlarge and the 


Serbian national army could become 
involved. The now familiar scenarios by 


«' * 



\ I 


Me N/efc. AfiAIM WILL. 

THe FftBE WOAU5 
■TOlCWV Twe (WlLDSaPH* 
OF CTMAlfC CLEAjOSinS- 



wirich the war spills over into Serbia it 
and then beyond, will again be rdevanL 

Faced with this project, will the Europe- 
an governments really agree to lift the em- 
bargo? Would they reaUy withdraw their 
UN-committed forces to let the carnage 
proceed tmhnpedeidTWhat would the Rus- 
sian government do? It has been solidly 
cooperative until now, despite the reproach- 
es of Radovan Karadzic, the Bosnian Serb 
leader, that Russia has failed its duty to its 
“Slav and Christian Orthodox brothers.” : 

. However, this plan is the only game in 
town. That is the salient fact. Democratic - 
Senator Joseph Bidcn has said tins is not a . 
plan that “tins president or this nation will 
want to be remembered as-having been any 
party to.” What alternative does be offer? 
If there is to be even a pause in the war, this 
is howit will happen. . 

Otherwise, peace in flic short tens is out 
erf the question, and peace in the long term 


wffl come only — as someone who was there 
ae first 


Nomutr tad BoMfe. By MtHX bike Sj*ey Monos BmH. CW> SjUkate. 


said of the first world war — when one of 
the two last heroes an the twosides,grap~ 
th knives, teeth and fingernails, has 
off the other. . v - 

Intemationtd Herald Tribune. 

Q Las Angdes Times Syndicate. 


A Goal for Palestinians: Keep Working Together 


P ARIS — Palestinian state- 
hood has now become more 
likely than a return to the previ- 
ous situation. This has been sym- 
bolized by the arrival of Yasser 
Arafat with hundreds of PLO 
members and staff, and by the 
thousands erf PLO members al- 
ready at work in Jericho and 
Gaza. Tbe self-rule process start- 
ed in Oslo and Cairo will go for- 
ward, whatever its outcome. 

Some Palestinians consider the 
glass half fuIL They see no altemar 
tivc to the “land for peace” formu- 
la on winch Israel agreed to negoti- 
ate. They hope that the self-rule 
effort can yield demonstrable suc- 
cess, given the population’s enthu- 
siastic eagerness and the precedent 
of efficient management of public 
and b usiness affairs by Palestin- 
ians in Gulf countries. 

Others see the glass two-thirds 
empty. They say Palestinians have 
signed over most of their land to 
the Israelis, at least until further 
notice: Palestinians may have won 

a chanty of n miring thgir own 
lives, but only on a fraction of 
there land. And inipn’wwiiefrt^ rn 


By Marwan Bi&hara 


livin g conditions in Chrra are ex- 
pected to give an aura of accept- 
ability to the arrangement 

Opponents erf the peace process 
are not only in Hamas; they in- 
dude secular and democratic po- 
litical factions. They complain mat 
the opehreaded nature of the new 
peace formula will be conducive to 
manipulati on, if not domination, 
by Israel They bold little hope for 
tangible impro vement in the daily 
lives of Palestinians. Improving 
the lot of people in the camps, job 
creation, the minimal requisites of 
a normal, safe existence — all tins 
lodes remote to them. 

Both sides agree that tbe agree- 
ment is a fait accompli, and that 
Israel is reluctant to take steps 
needed to make a success of the 
self-rule experiment If the test is 
failed, they fear, Israel would 
have few remaining qualms about 
taking draconian measures to an- 
nex part of the West Bank and 
dose off the border with the Gaza 
(once the safety of Israeli 
lets has been ensuredj. 


Neither side sees the agreement 
as a permanent solution. Propo- 
nents see it as a first step, and 
opponents as a severe setback. In 
fact the agreement covers only 
about 60 percent of.- Gaza, and 
less of the Jericho area. 

On the latest of my recent visits 
to the Gaza Strip, it seemed obvi- 
ous that people were less and less 
hopeful that genuine changes 
would occur, beyond a changing 
of the guard. Soon enough, 
Yasser Arafat will find himself 
squeezed b etween implementing 
the agreement as it stands and 
living up to papular expectations. 

Mr. Arafat needs to concen- 
trate on forging a strong relation- 
ship between the Palestinian peo- 
ple and the new authority. He 
needs to cement iris legitimacy in 
new ways, and to remember that, 
a democratic process, guarantee- 
ing free elections is the only guar- 
antee of future stability basal on 
political accountability. 

If the authority fumbles and 
fails, Mr. Arafat will soon find 


that hehaslost an both the Pales- 
tinian and the Israeli fronts. He 
needs to inf ram and inspire, to 
tell the people deady about the 
challenges and responsibilities 
ahead. The good news deserve 
emphasis, but so do the rides. 

« m Palestine, weapons are plen- 
tiful, not only among the police 
but also among the various fac- 
tions, parties and -“armed mili- 
_ tias.” The situation could become 
explosive^ Any confrontation be- 
tween police masting on disarm- 
ing these groups and the factions 
upholding a “right" to se&de- 
fense could lead to a bloodletting 
in the Gaza Strip. 


If people cannot hold their fire 
ad resolve 


and resotve then differences, or. 
agree to disagree, a civil war is a 
real possibility. A Kurdish-styte 
nightmare could be around the 
comer. Palestinians need to en- 
sure that Gaza- Jericho isindeeda 
first step, riot a last one. 


The writer, a faris-based com- 
mentator on Middle East affairs, 
. contributed this comment to the 
International Herald Tribune. 


Toward Mexican Democracy: Here Gomes Manana 


L ONDON — I once bragged to 
' a friend in Mexico that m the 
United States we would know the 
winner of a presidential election 
within an hour after the 
dosed. That’s nothing, he: 

“Here in Mexico, we kn 
a year before.” 

The Institutional Revolution- 
ary Party has ruled Mexico for 65 
years with a singularly successful 
formula: the government controls 
the party and a powerful presi- 
dent controls the government 
“The perfect dictatorship,” as 
tbe Pouvian novelist Mario Var- 
gas Llosa described it 
The PRI has won every presi- 
dential election. It controls Con- 
gress, the judiciary and most of 
the media. It co-opted labor, 
peasant farmers, bureaucrats and 
the army. It has provided stability 
and order rince 1929. 

And stability and order were 
what an exhausted and chaotic 
state looked for in the aftermath 
of a revolution and the civil wars 
that swept across Mexico bo- 
tween 1910 and 1929. A million 
lives were in a population of 12 


By Stanley A. Weiss 


million. The people welcomed tbe 
PRI, initially tittle more than a 
network of generals. 

During tbe 1930s, the PRI dis- 
tributed land, improved working 
conditions and expropriated the 
foreign oil companies. After 
World War n, high protectionist 
walls were built to keep out for- 
eign competition. Tbe state and 
party played the key role in indus- 
trial and agricultural development, 
and ultra-nationalism, patronage, 
protectionism and corruption be- 
came the way of life — and of 


It was not until 19S2 that the 
era erf economic liberalism began 
— ironically, when Mexico de- 
faulted on its foreign loans. Tbe 
International Monetary Fund, the 
World Bank and the United 
States helped Mexico get back on 
its feet, undo- tbe government’s 
program of privatization, state- 
owned firms declined in number 
from 1,555 to 217. Foreign invest- 
ment rose from. $10 bfllion in 
1980 to more than $70 billion 


Too Much of the Zapatistas 7 Good Thing 


T HE Zapatistas have brought to li ght the deep racist sentiments 
existing in Mexico; accelerated the unification, and mobilization of 
nongovernmental forces; forced the government to backtrack and 
rkangp its martial disposition; driven two presidential candidates, Luis 
DonaldoCtriosip and Cuat^tfanocCmdenas, to recognize _the profound 
motives behind the indigenous uprising. Even the rightist candidate, 
Diego Femdndez de CevaQos, has paid lip service to Indian rights. 

Bot what is the meaning of statements like; u By suicide or firing 
squad, the death of the current Mexican political system is absolutely 
necessary, albeit not sufficient, for a transition to democracy in our 
country^*? Who placed tbe Zapatistas in the role of arbiters and 
guarantors in the transition to democracy? 

I share many of tbe Zapatista grievances — the high-level corruption, 
the imperial presidency, the state party, the terrible aban donme nt of 
indigenous communities and the rejection of democracy— and I admire 
Their sense of community. 

But I cannot accep t their obstinate fixation with death, thdr poring as 
national representatives, their belief that an armed conflict is (me of the 
ways toward change: Fortunately, there axe many possibilities left to 
explore. Dialogue will be restored. 

— Carlos Monstvis, cultural historian and author of “Faces of 
the Mexican Cinema commenting in the Las Angeles Times. 


today. Mexico has its lowest rate 
of inflation in a quarter century. 
Its budget today has a surplus. 

What never changed was the 
politics. By the end of President 
Miguel de la Madrid's six-year 
reign, he fell the process of mod- 
ernization of the econozny was just 
getting started. He selected as Iris 
successor another technocrat wbo_ 
shared his views, Carlos Salmas de 
Gortari. Both men fallowed the 
Asian model of development — 
free enterprise first, free elections 
later. Wbex it came to democra- 
cy, the PRI paraphrased St. Au- 
gustine: Lord, give me democra- 
cy, but not quite yet. 

WdL yet is now. 

The next president wffl not be 
known before balloting starts an 
Aug. 21. The Salinas regime has 
instituted re f a i ms raalrmg elec- 
toral fraud a criminal offense^ as- 
suring the independence of the 
federal election commission, and 
inviting international ‘ observers 
to supervise the voting. . . 

Ernesto Zedillo Ponce de Le6n, 
picked to replace the assassinated 
Luis Donaloo Cdorio as the PRI 
candidate, can no longer assume 
certain victory. 

In addition to facing Cuauhte- 
moc Cardenas — candidate of the 
leftist Party of Democratic Revo- 
lution, who most Mexicans be- 


aring. But these are not signs of 
instability. They show a society 
readyjo focus on the Tmllirmg of 
Mbocaiu who still live in poverty 
and ready to .join the ranks of 
democratic nations. . 

■ Fra tire PRI, the party may be ' 
ending. Fra the Mexican, people, 
the celebration is fust beemnnus. 


mon is just oegnmzn 
: Lang after the Zapatista rebel- 
lion is seal as a historical foot- 
note and the assassination of Mr. 
Colosio as a personal tragedy, 
1994 wffl 'be remembered as the 
year Mexico, through the North 

American Free Trade Agreement, 
joined tbe Fhst'World. • 


The writer,.whp worked inMexr 
ico far more than 20 years, is~ chair- 
man of American Premier Inc. and 
of Business Executives far Nation- 
al Security, an organization of 
U.S. business leaders. He contri- 
buted this comment to the Inter- 
national Herald Tribune - - 


A New Left 
In Reserve 


For Britain 


By Anthony Lewis 


I ONDON — For a onetime ob- 
/ server of British politics to re- 
examine the scene is an eye-rub-' 
bing experience. Many old truisms 
have been turned upside down. 


The Labor Party used to be the 
ittle Em 


home of Little Englanders op- 
posed to British membership. to 
the European Community and 
generally suspicious of foreigners. 
-Today a powerful group of Con- 
servatives are Eurostep tics mid 
sound the trumpet of xenophobia. 
Labor is committed to Europe. 

' Labor was socialist' in - the ^d 
sense: nationalization, fealty to 
tra de umbos, class conflict. Today 
h extols market economics. “We 
are not a tax-and-spend party,” 
Tony Hair, heir apparent to tile 
party leadership, said in an inter- 
view. "Those days are over” 

Mr. Haro the heavy favorite in a 
leacleisbip contest now going on, is 
apcxfectsyznbcrfof the new-model 
Labor Party. He is young, 41, and 
locks younger. He went to private 
school an<f Oxford and speaks 
with the accent of the upper nad? 
die ri»»«R His wife, Cnene, is a 


lawyer, as be used to be. . 

He made his name as the shad* 


owhome secretary tty moving La- 
bor to a tough position on crime, 
wirik also pledging to be tough on 
tiie social decay that breeds crime. 
When charged with straying from 
Labor's base in the working dass, 
hesaid: “These are the very people 
who care about crime.” 

Educati on ' -timaad y: Mr. Blair 
has lately begun moving Labor to 
what could be called more conser- 
vafive positions on state schools. 
He em phasize s the need for disci- 


pareat involvement. But he has 
-also called for tbe state to provide 
rmrsery schools fra alL 

These positions are reminis- 
cent of what -America’s so-called 
New Democrats are trying to do 
byway of shedding the albatross 
political baggage of the 1960s. 
Bill Omton, too, is for tough 
measures a gainst c rime and re- 
straints on government spending. 

The two most important fea- 
tmes of Conser v ative rule in the 


last 15 years, Mr. Blair said in the 
interview, have been that taxes 
hnve riseoLas a proportion erf na- . 
tional income and so has govern- 
ment spending. “We are a high-tax 
econom y ,” he said, “because we 
are a low-success economy.” . 4 

You can hear him campaigning 
when he says such things. (The 
next election must be bdd by June 
1997.) But what would Labors tax 
policy be? Oa that and similar 
specifics he is dehberatdy silenL 
Tm certainly not going to write 
our tax plans or spending plans 
now,” he said. The lesson of the 
election two years ago is top 
plain. John Smith, toe Labor 
leader whose sudden death in 
May led to the present contest, 
unvested * de t a ile d tax proposal 
in 1992. The Conservatives ran 
against it and narrowly won. 

A striking change in Labor pol- 
icy, as Mr. Blair represents it, is 
hiy behef in a bfll J of rights for ■ 
Britain — rights enforceable by 
judges, as in the United States. 
He would make the European 
Convention on Homan Rights 
part of British domestic law. 

Labor traditionally opposed a 
bill of rights on tbe ground that it 
would give too much power to 
nnetec t ed judges. “That is a risk,” 
Mr. Hair said, “but you have to 
balance the ride. One of the fea- 
tures of a civilized society is tbe 
protection of - minorities against . 
the abuse of power by majorities.” 

If he becomes leader, that fact 
alone wffl do much to kill the old . 
and losing image of the' Labor 
Party as a tired xielic.of toe past 
Instead it will be a party that caD% . 
fra renewal but is only the tmiesf ~ 
bit .left of center:. 

Most British pohtirians are now 
trying to crowd mto the center. 
“Tte parties may not have starkly 
different ideologies to offer,” Joe 
Rogaty, a Financial Times colum- 
nist, wrote the other -day, “but 
Mr. Blair’s has tbe advantage of : 
freshness, something new, differ- 
ent where it counts, and ^afe." 1 

Safe, certainly. The question is 
wither safety, youth and broad 
virio ns will be enough to keep 
him awl his party in ' toe 
polls, as now, through an election. 

The New York Times. 


1 

r i 


m OUB PAGES: 100, 75 AND 50 YEARS Afin 
1894* Trade Is Paralyzed 


NEW YORK — The paralysis of 
trade is completed by the strikes.. 


From toe flint grower on the Pa- entiy moved the President deeply, 

czfic slope, whose fruit is rotting * . 


Fifth avenue. All along the route 
the buildings were bedecked with 
flags. The c he eri n g throng was so 
that the o vatio n appaf- 


Ga toe trees fra lack of transpor- 
tation, to toe manufacturer on the 

lieved was rabbKi or preadenaal , want of taw material, the whole 
victory m 1988 by the PRI Mrt eountiy if affected. Produce is not 


1944: Hitler Takes Over 


Zedillo wffl be r unning against 
Diego Femindez de CevaHos, 
son of a founding member, of the 
center-ngbt National Action Par- 
ty. A trial lawyer and member of 
Congress, Mr. Femfindez wiH be 
a formidable opponent, mocking 
Mr, Zedillo as “a good little boy 
with high grades who has not 
passed the test of democracy.” 

The election approaches amid 
apparent instability. The on- 
again, off -again Zapatista rebel- 
lion in the southernmost state of 
Chiapas has been on again. And a 
rift in the PRI leadertoip is wid- 


reachmg the seaboard, and the 
Jankers are ceasing to draw the. 
usual advance tills to be replaced 
by oottoH drafts later on. 


1919: 13«ai ^fekomed 


NEW YORK ' — The transport 
GeOE&e Washington, bringing the 
President home from France, was. 
escorted by a number of naval 
. vessds.and aircraft while coining 
up toe bay to her anchorage in 
Hoboken. On tin* ride of toe tiv? 
er, Ions before *he President was 
led to pass, crowds lined 


LONDON ' — - [From our New. ; 
York edition:] Adolf Hitler has 
been m urgent consultation with . 
Itis top military leaders since eaiiy 
tois week, and a. Moscow report . 
said Hitler had taken over drrecjp r 
don of operations ra toe west,' ‘ 
following the removal of Field . 
Jaanthal Karl Rudolf Gad von 1 
RfflidstedL From the German 
frontiw came information that 
™oed the discussions ■ among 
JJn? and his mflitmy leaders to 
tte Kaiser’s famous Grand Coun- - 
cum August, 1918,whettGeonan 
leaders decided that , toe war 
could not be won but might pro- 




•‘•r.Sr 


!' 1*4- 

.•’Mi 


' **• 


- s . 


-Vi* 






prolonged, bitter fight 


x. 


V 


■~:*+ : g !W ^ yy»WW I f > I. «r^ i _ y 





X 


V 

s 


1 


wssj-a-* -- 






L 


** 


Israel Slaps Curfew on Hebron 


INTERACTIONAL HERALD TRIBUNE, SATURPAY-SIINDAY, JULY 9-10, 1994- 


Page 5 



By Clyde Habennan 

„^J /rwYarkr "^Senice 

K*R YAT ARBA, lsradi-Oo- 
copied West Bank — isradi 
forces poured into this Jewish 
settlement outside Hebron bn 
Fnday, scuffling at times with 
tesidepts enraged by the sepa- 
rate killings of akx»l teenager 
and of a soldier.. 

To forestall trouble, the army 
also imposed -a cttrfew on the 
100,000 Arabs in Hebron, emp- 
tying the streets of that volatile 
West Bank town, exorot for miU 
itary patrols and strolls through 
the center by some of the 450 
Jews living there. ■ 

. . The armypresenoe at Kiryat 
Arba, a stronghold of some of 
the most militant Israelis in the 
West Bank, was unusually 
Strong. It -reflected official con- 
cern that protests and even pos- 
sible countervurfence by settlers 
could enflamr opposition to 
contouring peace talks with the 
Palestine Liberation Organiza- 
tion just when the gov ernmen t 
Was assuring Israelis that every- 
thing was going wdL 
' Tne killings also put an enor- 
mous dent in Prime Minister 
Yitzhak Rabin’s boast several - 
days ago that Iris deal with the 


jS Killed in British Jet Crash ; 

. Ratten 

. NICOSIA A Royal- Air 
Force Tornado F3 cradled in 
the sea off the. Mediterranean 
island of Cyprus on Friday, kilL 
mg its two crew members. 


ings in West Bank 


PLO for Palestinian, self-rule 
had led to a sharp reduction in 
anti-Israel violence. 

' Not that Mr. Rabin said that 
Palestinian attacks had disap- 
peared or that they would not 
recor.' Bat any illusions that 
some- may have had that genu- 
ine peace had arrived with the 
start of Self-rule in the Gaza 
Strip arid' Jericho were shat- 
tered on Tbonriay by thedrito- . 
byshootingof SantPrigsl, a 17- 
year-old Kiryat' Arba girl, 
whose father-arid brother were 
wounded, in the attack. The 
same day,, the body of Private 
Arieh Frankenthal, 20, who had 
been repeatedly shot and 
stabbed, was found irimi aban- 
doned house in an Arab village 
just north of Jerusalem. 

No one' darned responsibil- 
ity for the attacks, bat Israeli 
officials assumed that they were 
the work of Islamic militants 
who oppose negotiations with. 
Brad and who had been rela- 
tively quiet, especially dining 
the visit to 'Gaza and Jericho 
this week by Yasser Arafat, the 
PLO leader. 

There was no condemnation 
or other publfc comment on the 
killings by Mr, Arafat or the 
PLO. But Israel’s deputy de- 
fense minister, Mordechai Gur, 
called on the new Palestinian 
police force in Gaza and Jericho 
to cradt down on radicals, 
wanting that if they do not "im- 
pose quiet, we win feel free to 
act according to our needs.” 

Nowhere was Israeli anger 
greater than among the 'slain 


g ir l’s neighbors in Kiryat Arba, 
who already were in the van- 
guard of attempts by the far- 
right to bring down the prime 
minister, a man they have pub- 
licly reviled as a traitor and as a 
tatat partner with Palestinians 
in anri- Jewish terrorism- ' 

"He murdered us before they 
are murdering us,” said Geuia 
Cohen, a former member of 
Parliament on the far right who 
lives in Kiiyat Arba. 

Settlers were repealed to have 
smashed the windows of some 
Arab houses in Hebron, and 
they blocked the road between 
Jerusalem ' and Hebron with 
burning tires. On that road, an 
Israeli dvihan carrying a sniper 
scope mounted on ms automat- 
ic nfle ordered a carload of Pal- 
‘ estmians to poll off to the ride 
for a frisking at gunpoint and 
for an identity check. 

- At Kiryat Arba, settlers 
lashe d out as wen at the army, 
shooting “murderer* and “trai- 
tor* at me area commander on 
Thursday night and again at 
other officers who showed up 
Friday at Miss PrigaFs funeral 

in Jerusalem. 

As a protest, more than two 
dozen Kiryat Arba residents 
pushed past soldiers Friday to 
occupy several new apartment 
buddings that had been unoc- 
cupied since their completion 
two years ago. 

After some shoving and 
name-calling,, the army com- 
promised by letting half of the 
demonstrators stay through the 
Jewish Sabbath. 



yf Ukraine 



By, William Drozdiak 

Washington Pest Soviet 

NAPLES — Eight years after 
the world’s worst nuclear acci- 
dent, the leaders of the major 
industrial democracies air say- 
ing tire time has come to shut 
down the Qiernobyl nuclear 
plant and also to ptriLUkraine 
tack from the blink erf econom- 
ic catastrophe. 

As President Bill CBnlon and 
six other leaders opened their 
annual Group of Seven eco- 


nomic summit meeting here 
Friday, a need to produce a 
rescue package for Ukraine has 
emerged as an undisputed pri- 
ority for the United States and 
European allies. 

"Ibis is one issue that is be- 
yond debate,” a senior U.SL ad- 
ministration official said. 
"Emergency aid for Ukraine is 
something that must happen.” 

U.Sl and European govern- 
ments agree that the G-7 mem- 
bers should fund a S1J8 billion 
progriun to dose down the 


•FRANCE* Thinking a Certain Wa% 


Chernobyl plant while upgrad- 
ing safety -standards on three 
reactors still under construc- 
tion. 

Washington also wants to 
dangle S5 billion in an aid pack- 
age If Ukraine carries out deep 
economic reforms. 

It must still be resolved who 
would pay for such assistance. 
The European Union wants to 
share the burden equally , with 
the United States and Japan. 
But the United States contends 
it already carries aheavy load in 
providing $700 million a year to 
Ukraine; its fourth largest aid 
recipient. Japan feds it is too 
far removed to pay such a price 


Confronted With Order, Naples Asks, Can It Last? 


By Alan Cowell 

New York Tunes Semes 

NAPLES — Neapolitans Hke to say 
their city is divided: The rich live up 
on the hill, the poor live down by the 
docks and the only strand that links 
them is the city’s chaos. Now, though, 
there’s a new and unfamiliar part, the 
G-7 pan — a bubble of order and 
serenity were 5,000 police and miles of 
barricades have created a Naples 
without Neapolitans to insulate the 
summit from the city. 

For months, armies of laborers have 
spruced, preened and primped the so- 
called red zone that stretches from the 
seafront hotels to the 17th century 
Royal Palace, where the summit meet- 
ing of the Group of Seven leading 
industri aliz ed democracies opened 
Friday night. 

Cobbles have been laid and foun- 
tains revived. Buildings have been 
painted, flowers planted, roads 
smoothed, beaches cleaned turf laid, 
all smooth and green and watered, 
restoring forgotten glories. 

And, beholding the splendor from 
across the security barricades that 
kero them out of it, Neapolitans on 
Friday entwined two fairy-tales: Part 
erf than was Dorothy, returning from 
Oz, to find home is pretty good after 
all; and part was Cinderella, wonder- 
ing when midnight will dome and the 
coach will turn bad: into a pumpkin. 


“Look. Business is down. But it’s 
worth it to see the place looking so 
nice," said Rafaele Sanchez, slicing 
tomato and mozzarella at his grocery 
store and lunch counter on the fringes 
of the red zone. 

“You come back on Monday, 
though, and it’ll all be back to normal 
— chaos as ureal.” 

AJdo Masullo, a leftist philosophy 
professor and Parliament member 
said: "No one can have the illusion 
that after this moment of euphoria we 
can continue in this favorable way 
unless firm decisions are made to cre- 
ate a more substantial transformation 
of the city. The problem will be to 
transform this new psychological atti- 
tude into a new reality." 

The remarkable transformation of 
part of Naples into an elegant pedes- 
trian precinct has intersected with an- 
other debate that has propelled the 
city since Italy’s huge corruption scan- 
dal decapitated the city admzmsire- 
don: Has the turning point toward 
better times finally arrived? 

The new civic pride that has come 
with the G-7, said Sergio Zavoli, the 
executive editor of the Naples daily D 
Mattino, “seems to signal the end of a 
long night.” 

"What wiB remain will not just be 
the decorations of a major event," he 
said. “The G-7 in Naples has set in 
motion something from which the city 
will not be able to turn back.” 


For years, Naples has slumped in a 
decay mat Mr. Zavoli called "the oth- 
er Naples, held back in mistrust and 
surrender." 

With three million people packed 
into the city and its environs, a third 
of the workforce is jobless. The health 
service has been wracked by the scan- 
dals of people dying untended in hos- 
pital corridors. No one even knows 
how many children cut class to work 
in bars or the sweatshops of the illicit 
economy. 

In the tangled alleys of the Spanish 
Quarter, down by the port (and out- 
side the red zone), the mobsters of the 
Camorra organized crime syndicate 
hold sway as they always have oyer 
extortion, loan-sharking, narcotics, 
counterfeiting, illicit lotteries, prosti- 
tution, pornography, gambling and 

smuggling. 

And then there is the traffic, known 
for two characteristics: indiscipline 
and snarls. The only bikers to obey the 
law and wear safety helmets are the 
police; red traffic lights, by tradition, 
are more a challenge to proceed than 
an order to halt. 

The corruption scandals that have 
swept Italy since February 1992 
reached so deeply here that the entire 
dty a dminis tration was suspended 
ana replaced by a special commission- 
er from Rome — a viceroy sent to hold 

the line in a city that had declared 
itself bankrupt. 


Since last year, though, something 
different has been bubbling through 
the gloom. 

A new police chief, Umberto Im~ 
prota, began dissolving corrupt local 
authorities. In elections last Decem- 
ber, the dty swung left and voted in 
Mr. Bassoluio who promptly began a 
crusade to introduce a new notion into 
the way Neapolitans relate to their 
city. He threw open the galleries and 
churches for people to see, switched 
on the traffic lights that had fallen 
into disuse and sent the traffic cops 
bade onto the streets. 

Now, said Gualberto Ranieri, a for- 
mer public relations executive at Fiat 
who moved here a few months back, 
"you must be careful of the old in> 



Lt*c Fraua/Agcncr Ftum-Piwc 

Mr. Cfiuton taking time for pizza Friday. U.S. Ambassador Reginald Bartholomew, second from right, joined him. 


"Naples is much belter than its rep- 
utation," he said. For instance, he 
said, be had stopped at a red light and 
"right out of 1 0 people behind me did 
not hoot their horns” — a modest 
omen, but an omen nonetheless. 

The question is: will it last? 

“Without the positive will of the 
Neapolitans, all the efforts will be 
useless,” said the movie director 
Francesco RosL "The flowers in the 
flower beds will wither, the fountains 
will no longer tinkle, the streets will 
fill with holes again, the garbage will 
build up in the piazzas, and the traffic 
will paralyze the entire dty.” 


Protesters Injure 
A Police Official 

Reuters 

NAPLES — A Naples po- 
lice official was injured Friday 
during a dash with students 
demonstrating against the 
Group of Seven meeting. 

The police said that a depu- 
ty police chief had been hit on 
the head by an Iron bar 
thrown from a building site as 
200 officers clashed with dem- 
onstrators outside Eastern 
University, where President 
Francois Mitterrand of 
France was receiving an hon- 
orary degree. Three people 
were arrested. 

The deputy chief was taken 
to a hospital. Officials said his 
injuries were not serious. 

In another incident, 10 ac- 
tivists were detained in the 
city's Vomero district while 
trying to put up posters criti- 
cizing the summit meeting. 


DOLLAR: No Support for Currency in Sight as Group of Seven Leaders Open Naples Talks 


T — ~ — — - .. . lo solvc what it sees as a basical- 

t.x, .■*'.■ -jr- .;-.2 h rrljy European problem. 

Ctatnmed from fagel mud pfcSoooph^Jhe sakL ii' Tranoe and Gteinany have 

“Only the Gennans have creati- insisted 'that any further delay 
cd great metaphysical systems.” ' in dosing Chernobyl would be 
Dowrimane Bourdrn, "who -unconscionably dangerous, 
teaches philosophy in an under- “If another accident should 

privileged Parer suburb, said happen, the rest of the world trade talks 

she enjoyed the recognition hex- wouldhave no excuse in not 

h«- “M V having acted in time to prevent be ^ wcen ^ c ^ . 

what could turn out to be an Mr. Clinton admitted that 


the point' (hatA oondnskm be- 
comes irrelevant. 

Indeed, such is the fascism-, 
tion with philosophizing. — 
more than philosophy — that 
each year newspapers publish 
the questions asked erf students 
in their “bac-phflo” exam and 
invite philosophers to write 
their own model answers. And 
even years later, it seems, every- 
one ' remembers 'the. question 
they answered and the m a rk 
they received in philosophy . . 

This cerebral and even ethe- 
real approach to Hf ri s dilemmas 
in turn affects the way French 
society as a whole works, in- 
cluding pod tics and diplomacy. 
And perhaps here lies the secret 
to why the French and “Anglo- 
Saxons,” as they call Americans 
and Britons, have so much trou- 
ble understanding each other. 

“The French always go from 
the general, to the particular,” 
said Jack Lang, a former culture 
and education minister. He re- 
called that his “bao-phflo" es- 
say was on “happiness”- and 
that he got 18 out of 20 points. 
‘The Anglo-Saxons start with a 
concrete fact and reason from 
that. They call a cat a cat Wb 
■’.Bke to blah-blah-Wah.” 

For Mr. Ferry, the Anglo- 
Saxon tradition of ana lytical 
philosophy can be s umm a riz ed 
by the phrase: We have a prob- 
lem and must find a solution. 
“In contrast, in France, through 
Voltaire and Diderot and Rous- 
seau, ours is more erf a political 


Continued from Page 1 U.S. officials said they were en- 

is a preference for a stronger couragedby that promise. . 
dollar " he said. ■■■-•* > Jhe U.S.-Japanese meeting 

in a commitment' 

While Mr. Murayama both sides to continue coop- 

“* stabl - cration on security issues. The 


<fid not expect near-term stabi 
lization in exchange rates, he 
did pledge during his meeting 
with Mr. Clinton to resume the 


expertise brought her. “My 

teaching colleagues are often 

intimidated by us,” she said. even worse catastrophe than the 
"ThcyTl come and ask us to first accident,” said Anne Lau- 


progress so 'far on U.S.-Japa- 

(afire <uk in Cl I ffT- 


qncstion of North Korea’s sus- 
pected devdopment of nuclear 
weapons was the first issue the 
two leaders discussed, and Mr. 
Murayama praised what be 
called Washington’s “tenacious 
efforts” to ensure that North 
Korea would not proceed with 



always apparent among, stu- 
dents, above all those studying 
matitematits,scte3teesandtech- 
nical subjects.. 

“The course was a waste of 


promises, the G-7 countries 
were goaded into action by rev- 
elations of Ukraine's plans to 
keep open two Chernobyl reac- 
tors and to restart a third on tile 


time,” ^said Laurent Ddahaye, .ground of energy shortages. 


18, who plans to study econom- 
ics at university. “Stffl, 1 perhaps 
it developed my critical facul- 
ties, who knows.” 

Mrs. Bourdin, whose stu- 
dents are .unlikely tojoin the 
French elite, said she felt that 
even a couple of hours of phi- 
losophy lessons a week made a 
diff erence. "Even if il«jy don’t 
retain much, they have asked 
some questions and they know 
there arc more questions to be 
asked,” she said. , \ . 

Karen Mianachra, 20; who 
will study law at university, said 
her only regret was that she had 
not begun philosophy sooner. 


Ukraine agreed to close tile 
plant in 1991, but Parliament 
reversed that decision. 

U.S. and European officials 
say that several meetings 
’ among the senior representa- 
tives 'who prepared the Naples 
agenda, lea to an aid package 
that is Hkdy to be approved 
Saturday by beads of govern- 
ment. 

: A UJ5. official said Ukraine 
deserves support because of its 
great potenbal, despite an ago- 
nizing decline since tiie dissolu- 
tion of the Soviet Union in De- 
cember 1991. Economic 
production has fallen 40 per- 


tickingoff his 

wau^iviuiAM y« rjj“ gUftlb XW Uild weekend’s G-7 

tics over the past year. Mr. Chn- summit, said he hoped to elis- 
ion then acknowledged that ^ss ways to develop "the trie- 
progress on the trade talks had communications infrastructure 
been slowed because there had of the new information-based 
been four Japanese prime min- global economy” along with 
isters in a 12-month period. other new trade proposals. 

Mr. Murayama — the first . The U JS. proposal is that G-7 
Socialist to hold the office since nations begin a review of prac- 
1948 — also told Mr. Clinton rices that inhibit free trade and 
that his government would con- report bade on these to next 
time to reduce income taxes year’s G-7 summit at Halifax, 
and would defer any rise in a in Canada. Aside from tdecom- 
c ona am p rion tax nntil the Japa- id unications, Washington also 
ncse recovery is further long, wants to review such trade is- 


sues as intellectual property, in- 
ternational investment and 
competition policy. 

The Clinton proposal to deal 
with trade issues that were left 
unresolved by the Uruguay 
Round of the General Agree- 
ment on Tariffs and Trade ap- 
peared Friday to be meeting re- 
sistance from European 
governments. 

A senior European official 
said Friday night that “as Mr. 
Clinton has also said the priori- 

8 should be to first ratify the 
ATT accord this year it is pre- 
mature to go on to new issues 
already." He said there was re- 
luctance lo “put the cart before 
the horse and press on with new 
trade matters before GATT is 
ratified." 

Mr. Bentsen, however, said 
the new trade initiative re- 
mained a U.S. goal this week- 
end. 

Mickey Kantor, the U.S. 
trade representative, wQl dis- 
cuss the U.S. initiative on Sat- 
urday with his counterparts 
from Japan, Germany, Italy, 


Britain, and with Sir Leon Brit- 
tan, the European Union’s 
trade commissioner. 

There appeared, meanwhile, 
to be steady progress on the 
issue of providing financial aid 
to Ukraine to dose down two 
remaining reactors at the Cher- 
nobyl nudear power plant. Eu- 
ropean officials were skeptical, 
however, about a separate U.S. 
proposal to offer up to $5 bil- 
lion of multilateral aid to 
Ukraine to assist in economic 
reform programs. 

The Naples summit is expect- 
ed to end with a flourish of 
rhetoric about the need to fight 
record unemployment in Eu- 
rope and with “an action pro- 
gram” for G-7 governments, UlmtOn WominQ 
aimed at creating new jobs. 

Summit leaders will call for 
noninflatioDary growth as the 
best method of setting the stage 
for job creation, to be comple- 
mented by moves to make labor 
markets more flexible. 


Moscow's progress in bringing 
down inflation, privatizing 
state companies, and moving 
steadily toward a market econo- 
my. 

Other issues being discussed 
at the summit include attempts 
to partition Bosnia between 
Serbian and Muslim-controlled 
areas, the political situation in 
Haiti, the nse of Islamic funda- 
mentalism and terrorism in Al- 
geria, and the peace talks be- 
tween Israel and the Palestine 
Liberation Organization. 


HAITI: 


On Sunday, G-7 leaders will 
meet President Boris N. Yeltsin 
of Russia, offering praise for 


SUMMIT: West Gropes to Define Post* Cold War Era NUCLEAR: 

Talks Are r Useful 9 


Continued from Page 1 leaders is as critical as the one 

issues like the war inBosnia has w 

been intermittent at best But it but then response has been far 


UUl 066““ I™™ — 

“It has chang ed my whole way cent m the last year, 
of thinking,” she said. “I fed “Ukraine will either be an 
Hke it has been a voyage into important power or the sick 
history" Then, as if to stress man of Eurqpejn the 21st cen- 


she is now truly Frtridi, she 
added, “I have learned bow to 
reason." 


tiny,” the U.S. official said. 
"Either way, its fate will be crit- 
ical for the future of Europe.” 


is the UJ3. president who laid 
down what Western strategy 
there is for bringing Russia and 
Eastern Europe into the global 
tree market economy and guar- 
anteeing the peace and security 
of the entire region at the same 
time. 

The challenge facing Western 


AMERICAN 
TOPICS 


Even After Divorce 

Stfustaof having pim nlsvnth wo 

S-SSKS 

work fwce . than fasuhal, conti- 
ington Post- 



Na , - 

Martin, former 


M aruu. d ^ ne oconsej- 

thc author 

Vfltive writer Midge ueewn. /vu 


vative ^ 0 j their 

longer thfflT b^bands. 

«nd Frances Lear have 
lvana husband’s famous 

cek? 


And of course, a growing number of 
women avoid the whole problem by re- 
taining their maiden names when they 
.many. ... 

Short Takes 

A tfdong resident el North Prori- 
dence, Rhode Island, was killed by a 
shotgun blast to the head and his long- 
time next-door neighbor was charged 
with murder. The apparent source of the 
dispute, neighbors said, was the 6-foot 
(2-meter) hedge separating their proper- 
ty. The body of Ronald Volpe, 39, was 
found face down in Ins hedges, fanning 
shears and a stepladdex nearby. James. 
Gallagher, 35.. was arrested and held 
[' without baQ. Neighbors said the two men 
began a quiet feud at least three years 
ago, wfcea Mr. Gallagher, pruned the 
hedges all the way down to ioe branefaes. 
Mr. Yolpe’s fKber had planted the 
hedges years before 

- The beatification of the Reverend Jo- 
seph Damien X>e Venster has been post- 
poned until next year because a broken 
leg suffered by Pope John Paul n pre- 
vented him from attending the ceremony 
this year in Father Damien's native Bef- 
* pum* Father Damien spent most of his 
fife^ninistoiag to leprosy patients at 
Kahaipapa, Molokai, 'in the Hawanan. 
islands^. more thAn 100 years ago. 


Kh*g Alfred the Great of Tfragland, re- 
membered by generations of schoolchil- 
dren as King Alfred of the Cakes, will 
not grace the logo of Alfred University in 
Alfred, New York* after aB. 

- After spending two years and $21,000. 
university officials proposed the royal 
silhouette but ran up against opposition 
from faculty members and students. 
Thirty-two of 197 faculty members 
signed a protest petition. 

■Elizabeth Kuranz, a ceramics engi- 
neering student, said Alfred "was the 
head of a form of government that is 
inherently Tepresave.” ha a memoran- 
dum to faculty and students, Edward G. 
Cofi Jr n the university president, wrote. 
“OJL, I give up.” 

Drama Hanover Gnffiam, wife of New 
York’s Mayor Rudolph W. Giuliani, is a 
former television news anchor, and she 
continues to anchor on the Television 
Food Network. 

Bat she frequently works in radio. "I 
enjoy radio ” sne says* “because you can 
do it without makeup.” 

Richard Sdnmtter, a New York Tunes 

reader, spotted this message chalked on a 

driveway between two dwellings in the 
suburb of Dobbs Feny, New York: 
•‘Mammy, I hate you. Love, Ashley.” 

International Herald Tribune. 


more sketchy and tentative than 
it was 1 then. 

Five years after World War 
II, most of the political and eco- 
nomic institutions that carried 
the West through the Cold War 
were in place — the alliances 
that bound the United States to 
the defense of Japan and West- 
ern Europe, the Marshall Flan, 
the economic and monetary 
agreements that underpinned 
the expansion of free world 
trade and prosperity. 

But five years after the Berlin 
Wall collapsed, thfcre has been 
no comparable concentrated ef- 
fort to come up with a grand 
design to cope with the social 
unrest erf remaking the Commu- 
nist .economies, the ethnic 
strains of resurgent nationalism 
in Eastern Europe or the in- 
creasingly competitive pres- 
sures of the global economy. 

Instead the leaders of the 
Group of Seven have impro- 
vised and tinkered at gatherings 
like this one, which promises to 
be as inconclusive as those be- 
fore it. 

Last year in Tokyo, they of- 
fered a $46 trillion package of 
aid and debt rescheduling help 
to stabilize Russia's inflation- 
ridden economy and encourage 
it to keep privatizing state en- 
terprises, which still account for 
60 percent erf its gross national 
product- About $30 billion has 
been committed so far, accord- 
ing to economic experts. 

In January in Brussels, Mr- 
Clinton and the NATO allies 
agreed to offer a Partnership for 
Peace between the alliance and 
any formerly Communist coun- 
try that wanted to cooperate, a 


step that disappointed Poland, 
Hungary, the Czech Republic 
and others who worry about 
Russia and want the security 
guarantees that come with full 
memberahip. 

Mr. Yeltsin’s government, 
which opposes NATO expan- 
sion, took until last month to 
-agree to participate, and the 
smaller countries fear the Rus- 
sians want to use the partner- 
ship only to keep than from 
getting in. 

“Bringing new members into 
NATO,” Mr. Clinton said in 
Warsaw on Thursday, “is no 
longer a question of whether, 
but when and how ” But for 
Poles and other East European 
democracies, when they can 
join the Weston dub, as mem- 
bers of NATO or the European 
Union, is a key question that 
remains unanswered. 

Chancellor Helmut Kohl of 
Germany also wants early 
membership in both for Poland 
and other East European coun- 
tries as soon as they qualify, 
because Germany cannot long 
tolerate a security vacuum on 
its eastern border. 

U.S. diplomats say that the 
German concerns will be on 
Mr. Clinton’s mind when he 
visits Bonn and Berlin after the 
discussions here end Sunday, 
and that the president will re- 
peat his assurances that expan- 
sion of NATO would not he a 
threat to Russia when be sees 
Mr. Yeltsin. 

But Mr. din ion is thought 
unlikely to agree to German 
suggestions that Mr. Yeltsin be 
invited to all of the meetings of 
the next G-7 summit meeting in 
Canada next year. Japan, Brit- 
ain and probably France also 
scan unlikely to go along. 


Gratmoed from Page 1 


Cantimied from Page 1 

Haitians had no right to seek 
asylum in the United States. 
“What we owe the people of 
Haiti is safety,” he said. “There 
is no internationally recognized 
human right to go to a particu- 
lar place and to have a particu- 
lar response” 

During the presidential elec- 
tion, Mr. Qmton hammered 
the R ush adminis tration for its 
policy of returning fleeing Hai- 
tians to the country without the 
opportunity for a hearing about 
whether they would be eligible 


statements from his govern- for political asylum. But before 
meat threatening to respond to taking office, Mr. Clinton was 


pressure with military force, 
Mr. Kang said that "a common 
point” is that both sides want to 
resolve the issue through dia- 
logue and by peaceful means. 

Many U.S. officials had pre- 
dicted the discussions would 
move slowly, and few were 
more than cautiously optimistic 
about reaching an accord. The 
dispute, which stems from 
North Korea's refusal to allow 
full international inspections of 
its nudear-rdated activities, is 
already in its 17th month. 

Mr. Gaflucd, who last month 
argued that North Korea 
should be punished with eco- 
nomic sanctions, agreed to meet 
with Mr. Kang only after for- 
mer President Timmy Carter 
visited the North Korean capi- 
tal of Pyongyang and emerged 
with a promise that partial in- 
spections would go forward 
while the overall nuclear pro- 
gram remained frozen. 

The meeting Friday gave Mr. 
Gallucd an opportunity to do 
what some of the administra- 
tion’s critics have urged for the 
.last six months, namely provide 
details of the rewards North 
Korea can count on if it aban- 
doned its nudear activities. 

These include carefully 
phased moves toward a normal- 
ization of relations with Wash- 
ington, which currently lacks 
any diplomatic links with 
North Korea. They also include 
a U.S. pledge of nonaggression 
and assistance in replacing 
North Korea's existing ana 
planned nudear reactors - 


forced to renege on his promise 
to lift that policy out of fear of a 
flood of refugees. 

In May, responding to what 
it described as deteriorating hu- 
man rights conditions in Haiti, 
the administration decided to 
resume processing of claims of 
political asylum aboard ships. 
When the flow of refugees that 
it had feared then materialized, 
the administration shifted to 
the safe havens policy. 

President Guillermo Endara 
of Panama on Thursday re- 
voked his agreement to provide 
a safe haven for 10.000 refu- 
gees, saying that White House 
had changed the terms of the 
arrangement on him and that he 
had been bullied and mistreat- 
ed by administration officials. 

Mr. Clinton was circumspect 
in his comments about Mr. En- 
dara’s announcement. “The 
Panamanians will have to ex- 
plain their own actions and 
their retraction of their former 
position,” he said. "That is not 
for me to do ” 

Other officials were privately 
far more critical saying that 
Mr. Endara had volunteered 
the use of Panama as a facility 
for the refugees and suggesting 
that he was backing off in the 
face of intense domestic pres- 
sure. 

A senior official, asked 
whether the United States 
would take any steps in re- 
sponse to Panama’s announce- 
ment, said, "We're still engaged 
in talking to them about the 
whole issue;” 








' w . ■ ' 


INTERNATIONAL H EKA T.n TRIBUNE 


ART 

Saturday-Sunday, 
July 9-10, 1994 
Page 6 


Room at the Top for the Truly Rare j Kila : Self-Explanatory 


International Herald Tribune 

L ondon — as its 

substance gradually 
but inexorably thins 
out, the an market is 
undergoing a sea change that 
will soon affect its structure. 

For now, it is the price scale 
that is chang in g . At the top, 
awareness that little is left 
worth fighting over on a big 
scale exacerbates competition 

SOUREN MELtKIAN 

almost to hysteria. This week, 
within 24 hours, three extraor- 
dinary prices were paid, all of 
them world records, that would 
have seemed unthinkable even 
at the height of the artificially 
whigped-up market of the late 

The most spectacular by far 
is the £7,701,500 (SI 1.86 mil- 
lion) paid at Christie's on 
Wednesday for an Assyrian 
gray stone slab carved in low 
relief under King Ashumasir- 
pal n (883-859 B. C.). It comes 
from the most famous site of 
ancient Assyria, the king’s pal- 
ace near present-day Nimrud 
on the southern edge of Iraqi 
Kurdistan. The palace was sav- 
aged in the mid- 19th century by 
Sir Henry Layard who used an 
army OF peasants wielding picks 
and shovels to cart away as 
many of the huge reliefs and 
three-dimensional statues as he 
could remove. 

In the process, Layard lost 
quite a few, which sank to the 
bottom of the Tipis. Those 
that arrived in Britain were 
handed over to Sir John Guest, 
who had put up the money for 
the art-hunting expedition. 
They were set up in a folly 
designed in 1851 by the archi- 
tect Charles Barry on the 
grounds of Guest’s house, 
Canford Manor. Layard mar- 
ried Guest's daughter and died 
surrounded by an aura of glo- 
ry. In 1919, Guest’s grandson. 
Lord Wimbora, sold off most 
of the sculptures. 

Some, acquired by John D. 
Rockefeller, grace tire Assyrian 
room in the Metropolitan Mu- 
seum; others are in the British 
Museum. A few strayed in vari- 
ous directions and a handful 
stayed on in “Nineveh Court,** 
which was turned into a candy 
shop for the children when 
Canford Manor became Can- 
ford School in 1923. 

When the governors of the 
school decided to sdl off seven 
remaining reliefs al Sotheby’s, 
on Nov. 16, 1959, there was 
great interest among the small 
number of connoisseurs in- 
volved in those days, but no 
wind of madness. John Hewett, 
a dealer, got one erf the finest 
reliefs for £4,000. 






: ; 'a /TIN 

\ ... . 



5^-^ ** • 





\ V- ' -VX - V V;. 

: ■: ' v : ■ %'iV- • ■; 'r . ; . - • ' , r 

" •• : "• 1 • •• v • ..v.-,' 


Assyrian relief from the palace of Ashumasirpal II went for a record £7. 7 million. 


Twenty years later, things 
had changed. Museums had 
mushroomed, there were now 
more cbUectore, and goods were 
scarcer. A winged deity 119 by 
133 centimeters (47 by 52 inch- 
es), offered at Sotheby’s on 
Dec, 4, 1979, stunned the world 
at £264,000, while a standing 
eagle-headed deity went for 
£95,000. 

lire £264,000 relief is most 
closely comparable, commer- 
cially, to the £7.7 millio n relief 
sold a Christie’s, winch mea- 
sures 183 by 1 17 centimeters. It 
is smaller, but unlike the relief 
that broaght die record on 
Wednesday, of which the lower 
section is missing, it can be seen 
as a complete figure. Even con- 
ceding that Wednesday’s frag- 
ment may be more desirable for 
its sense of movement, the dif- 
ference in price is vast 

C loser in time to us 
by 2,000 years, anoth- 
er object of even 
greater rarity than the 
Assyrian reliefs provides a mcar 
sure of the current sense of ur- 
gency when an opportunity to 
buy something extraordinary 
arises. The carved narwhal horn 
of the 12th century, which was 
sold at Christie’s on Tuesday 
for £441,500, is a deeply myste- 
rious object It must have been 
seen as such when it was carved 
with its beautiful Romanesque 
motifs almost all the way up its 
114 centimeters. 

In the Middle Ages, the horn 
of this small arctic whale was 
avidly sought after, from Con- 
stantinople and the Arab world 
to Scandinavia. In Europe, it 
was thought of as the horn of 


the unicorn, which in turn was 
considered a symbol of Christ 
Horns were kept in church trea- 
suries, mostly undecorated. The 
Christie’s horn, and a closely 
related niece in the Victoria & 
Albert Museum are the only 
known horns to display such 
intricate, highly sophisticated 
decoration. 

The added attractions of the 
Christie’s horn are that it is in 
better condition — it could be 
characterized as pristine for an 
object of that age — and that it 
was virtually unknown until it 
was reproduced in Christie's 
sale catalogue. It was bought 
for £12 by the vendor’s father in 
1957 as part of a bundle of 
walking sticks during the sale of 
the contents of a house in the 
Cathedral Close at Hereford. 
Little else is known about it, at 
indeed about the Victoria & Al- 
bert bom. 

Their destination is a matter 
for speculation. Where the two 
horns were carved is equally un- 
certain. In the 1950s they were 
considered to be German, from 
the Rhenish area. Now they are 
called English. 

The suiprise effect played a 
role in its huge price, but so 
did, above all, the near impos- 
sibility nowadays of finding 
major Romanesque ivoty or 
bone carvings, let alone one of 
that size ana splendor. In the 
1950s, it might have reached, 
with great difficulty, £1,000 or 
so in one of the better auctions, 
like the Assyrian reliefs, the 
horn was propelled to strato- 
spheric heights by the current 
atmosphere of feverish compe- 
tition between museums and 


its secondary effect on high- 
powered collectors. 

Because it did not concern a 
major museum work, the most 
tdfing record this week was 
probably the £4,181,500 paid 
on Wednesday at Sotheby’s for 
a painting considered to be by 
Adbert Cuyp. 

It is a strange picture. In a 
landscape of Netherlandish ap- 
pearance, exotic animal* are 
strewn about — a camel stands 
rather improbably at the en- 
trance erf a Neath European for- 
est, an deplmnt is seen trotting 

on a hfllgiri ft in and 

so on. Two leopard cubs seem 
to have been dropped out of 
nowhere right in the fore- 
ground. These closely resemble 
two cubs in a painting done in 
1639 by Cuyp s father, Jacob 
Gerritsz Cuyp, who was also his 
master. The catalogue con- 
cludes that the leopards, al- 
though not the other animals 
nor the landscape, are the fa- 
ther's work. 

This makes it a hybrid. The 
picture is very well painted and 
curious, hardly an unforgetta- 
ble masterpiece. Furious com- 
petition between a syndicate of 
four dealers — Johnny Van- 
Had: ten of London, Konrad v 
Bemhamer of Munich, Otto 
Naumarm of New York," .and 
Tim Bathurst of Artemis, Lot ’ 
don — outbidding Richard 
Greene of London, resulted jxt - 
the current record for any 
painting whether partly or cn- 
tirdy by Adbert Cuyp. 

The same feverish atmo- 
sphere can just as easily lead to 
overestimation and overkill. . 
The combination of the two ' 


proved the imdom^of the “Im- 
maculate Conception,” offered 
at Sotheby’s minutes after the 

C *?fe portrait of Mary stand- 
ing on the .moon globe was 
bought at Drouot on June 22, 
199 oT by the Faria dealer 
Charles BaiEy. The expert Eric 
Turquin, noting its close re- 
semblance to the master’s 
painting in the National Gal- 
lery, London, catalogued it as 
“from the circle of Diego Ye- 
Uzquez” and gave it a 300,000 
to 400,000 franc ($55,000 to 
$75,000) estimate, Baflly, con- 
vinced it was a Vdfizquez, bat- 
tled against the London trade 
and bid up to 18 million francs 
to get it 

The dealer then organized a 
fantastic publicity drive around 
his picture- and consigned it to 
Sotheby’s. The auction house, 
going along with his conviction 
that it is a Vdftzqucz, gave it an 
estimate of £3.5 ntimon to £4 
million ($54 mQfion to $6.15 
million). 

Unfortunately, not everyone 
shared this conviction. Qeariy 
not the Louvre, whose curators 
gave it an export license; nor 
Alfonso Ffe re z S&nchez, a for- 
ma* Prado director, vvho sees it 
as the work of Alonso Cano. 

The room sat stony-faced as 
mythical bids were called out. 
They stopped at £4 million, 
leaving the picture unsold. It is 
now commercially dead for 
quite awh3e.-- ■ 

Throughout the week dozens 
of cases of overestimation, gen- 
erated by penury, wrought hav- 
oc. More man 40 percent of the 
European wads of art offered 
at Sotheby’s on Thursday, and 
almost 40 percent of the antiq- 
uities up for sale at Christie’s on 
Wednesday were unsold Some 
argent reuniting is needed if a 
crisis isto be- avoided 

■ Iraq Protests Sale 

The. Iracp government says 
the Assyrian relief was. in ef- 
fect, stolen from what is now 
Iraq and condemned the British 
government for allowing Chris- 
tie’s to sell it, Reuters reported 
from Baghdad 

A spokesman of the Cultural 
and Information Ministry said 
that Iraq bad tried in vain to 
block the sale and that it would 
use all legal means to recover it 

“This anction reflects the de- 

gpic&hlt^and degrading stan^' 
pitn df ir dealing with human cni- 

.time and civilization in Britain 
and particularly the West,” the 
spokesman said 

Last week I wrote that the 
small self-portrait by Degas 
was sold after the sale. It actual- 
ly sold at the low estimate dur- 
ing the sale — SAL 


Tate Launches Retrospective of American s Work 




. _ By Qaire Fiaixfcd . . 

L ondon — r. b. 

Kitaj’s Jong-antici- 
pated retrospective 
has opened at the 
Tate with 11.5 paintings, draw- 
ings and pastels in the space 
just vacated by Ffcassa - 
Kitaj has always been con- 
troversial in Britain’s art es- 
tablishment, congenhaDy re- 
sistant to modernity. 'A* tins 
massive show be has offered 
more ammunition to his critics 
by daring’ to write captious , to i 
his sometimes enigmatic pic- . 
tuxes, explanatory snippets 
taken from his catalogue text 

There is no compulsion on. , 
the visitor to read these does 
(the Tate Gallery began cap- ' 
tiomog its coBectious m 1990V - 
anymcffethantbereistobaya “The. Ohio 
rflfaTpgiir. But if further infor- 
mation is wanted on these. 
autobiographical and aBqgprieal works, whet 
could be better than the horsed mouth? 

“Cedi Court, London WG2 (The Refu- 
gees)” is one of more than. 50 cases in point A 
criss-cross of energetic people is sitting, lying,- 
standing, sweeping loving, co mm a nding at- 
tention in a sort offaedess alleyway. This is a 
dyruomc painting, intriguing in its ordered 
chaos. Bat what's the point? . 

Painted ID years ago, tins is an indispens^ 
able piece of Kitaj's awakened Jewish con- 
sciousness (“obsession" he calls it) which be- . 
gan in the 1970s. Hoe be alludes to Yiddish 
theater actors known by IGtq’s gran dpa re n ts 
and, protMdrfy more important, documented . 
by Kafka. In this West London lane on Ki- 
nd's book-searching beat, character actors are 

- : i Tt t u:. 





oflMcnAn.NaiVarfc 


“The . Ohio Gang " (1964), in Kitaj retrospective. 


dothes in the foreground, trying to decode afi 
the dements of the puzzle, fully aware of the 
variegated nature of his hfe. 

It began uneasily 62 years ago in Cleveland. 
His father, Sigmund Benway, ran away, to, 
California wbeathebaby was only 2. “He was 
a loser, a gambler, a poor guy who was proba- 
bly too embarrassed to look me up and. died 
in the late ’40s m LA." In 1941 his school- 
teacher mother married “a wonderftil guy 
named Walter Kitaj whom I loved.” . 

M oving to tiSot, N ewYodc, Kt 

taj recalls vividly the overwhdm- 
mg experience of visiting the 
Museum of Modem Art in New 
York City as a kid and seeing Picasso’s 
“Guernica.” 

“You , know something is going on^ , . 
war, violence. But there was & ptequc~teiflmg 
about the Utile Basque village, the fascist , 
bo mb ing, Picasso’s rage and exettemenf” and . 
it all became much mare meaningful. 

After a stintas a merribant seamahin the 
late ’40s, he worked on oO tankers in the 
Caribbean, attended art schools inrNew York 
and Vienna and traveled in Europe. In 1955 
he began a two-yearstretch in the U. S. Army, ' 


t fofln continued his ait studies at O xford s 
School, where he was “stunned for 
Hfe” M fee Raphael and Mkh d a n gek? draw- 
ings at the Arinnolean. By 1959, in London, 
he had entered the Royal College of Art, 
where he met his long-term friend David 
Hockney. A Marlborough Gallery exhibition 
three years later pot him on the map. 

Kiltg- calls “The Ohio Gang,” painted in 
1964, a‘ “(very) late Surrealist pictur- 
e . . . and its consciousness (or mine) is still 
streaming.” The gang^ is his own Ohio gang. A 
■ mide wOman sits on a contenmorary Eames- 
kv«> chair focusing on one of her two suitors 
while her kmg-sr^ermg, bare-breasted, blade 
maid fingers a cascading yefiowxibban. This 
»niiA»« to Jdm Ford's film “She Wore a 
Yeflow Ribbon” in winch the woman com- 
mftshersdf trioneof the men without identi- 
fyr flg Ihni. . 

M 1983,. Ritd visited the director and 
ptSiteif “J® Fad on His Deathbed,” a 
-stedrisg odeto his fnorite director filled with 
“corny ghosts” from Ford’s heroic films. . 

“bfy Cities,” 1990-93, depicts the three 
stages of Kitaj: upright youth wearing only a 
cap, sfifhtly stooped saddle age, and fallen; 
wniie-naired, aged. Underneath these 
catwaikmg prototypes, a baseball dugout en~ 
dosiK the diawn figures of his “demons.” 

pamtiDK are conmlex ruminations, 
tos pmoual and passicaiate 
interests; b^ties and Uteratnre, sex and the 
lnwwyn condition, frailty, love and death. 
Theseȣrcn6t easa^TeadWater Iffies, sunflow- 
ers or rite revdatory detafitrf a Lndan Freud 
Bade, but rignrarive evocations of his'dybr 
buks within and without, inevitably, some- 
taaesaHbhos ai ^ ctiricrittn-vitae. 

- - JLbJKitqj at the Tate until Sat 4, that the 
Los Angeles County Museum Oct 23-Jan. 8, 
and the Metropolitan in .New York Feb. 15- 
Mqy: 14: Print retrospectiveat the Victoria and 
Albert until Ocl 9: 

Claire Frankcl is an American journalist who 
in London. ' 



ART EXHIBITIONS 


1994, 

30th Anniversary 
of the Fo Delation Maeght 


Georges Braque 

5 July - 15 October 199 4 

Fondation Maeght 

06570 Saint-Paul, France 


Tel.: (33) 93 32 81 63 - Fax: (33) 93 32 53 22 


OPERA 



ANTIQUJ 

mi 


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GUMMERGLASS 

OPERA 


July 7- August 22 


“...In its 20th year 
one of the great 
American achievements. 1 
—John Russell 




7 -~ THE LEFEVRE GALLERY ■ 

| An exhibition of the New Painting 

*Le Char Au Miroir ///* (1989-1994) by 

BALTHUS 
23 June - 15 July 
Alex Reid and Lefevre Ltd 

30 Bruton Steel. London WIX8JD TeL-07M932107 Pax.-07I-499 9088 


Iolanthe • Gilbert & Sullivan 

Ariadne anf Naxos • Richard Strauss 

LIncoronaztone di Poppea • Monteverdi 
H Barbiere di Siviglia • Rossini 


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MUSEUMS 


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(0 a .m. - 6 p.m„ exmpt monday.s and holidays. 


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


Page 7 


ART 


Revelations of Color in Joan Mitchell’s Paintings 


By Michael Gibson 

Imtmaaanai Herald Tribune 


Joan MitchelCs “Tilleul” (1978) in Nantes exhibition. 


* Life in a Dollhouse: 
A Collector’s Dream 


By Rita Rdf 

New York Times Senior 


N EW YORK — A chair as small as a thimble, a highboy 
a mere yard high, or a Orihuahna-size bed may look 
silly individually, but a crowd of these lillipatian 
delimits makes it dear why some collectors pursue 
them so obsessivdy. 

Tiny trifles may trigger a rocket bade to childhood for unsus- 
pecting adults. And, once seduced into buying a mini-chest, a 
mini-chair or a mini-desk, people tend to treat these adult toys like 
sculpture, displaying them on shelves or as end tables. No one ever 
admits it, but most people yearn at one time or another to live in a 
dollhouse. - , .,1 ... 

Was this the secret reason that Philip Parker, a London dealer 
who died in 1983, collected so xnany miniatures? The Parker 

test of such things wten it was aucttoned^Sotlieb]i^ni New 
York. 

Not since 1980 had so many small-scale period chairs^ chests 
and tables been auctioned at one rime. White -of medium quality 
— only 21 were sold, 10 at prices bdow Sotheby's expectations — 
the Parker holdings induced some charmers. In addition to an 
unusual assortment of tilt-top, gateleg, drop-leaf and tavern 
tables, there were chests of drawers, desks, a four-poster bed, a 
corner cabinet and a stepladder. along with chairs in the Jacobean, 


Regency, Windsor and Ouppeqdafe styles. 
Althou “ 


Ithougb connoissoars probably prefer to concentrate on min- 
iatures of masterpieces, anywhere frora poe-tenih to one-half the 
size of the originate _Jt “ — ‘ -" M ‘“ 


offbeat proportions. The quirkiest mipjuimres jpdude U 
six indies to a foot hifch with fat fegs and feet as tinefc' 


as hockey' 


pucks; chairt with soaring backs, overiy wide seats and elaborate- ' 


ly scrolled arms, and chests so top-heavy with pediments and 
finials that the lags appear to be budding. 


BOOKS 


THE CROSSING: The Bo*, 
der Trilogy, Votnine H : 
Cormac McCarthy. 426 


*y 


pages. $23. Alfred A. Knopf. 


Reviewed by 
Michiko Kakutani 


ogy, 


HOUGH it’s billed as Vol- 
ume II of “The Border Trfl- 
Cormac McCarthy's lat- 
est novel, “The Crossing,” is 
less a sequel to his award-win- 
ning book “AH the Pretty Hors- 
es” (1992) than a loose varia- 
tion on its themes of loss, exile, 
violence and fate. . .. 

Once again, McCarth y give s 
us the story of two resourceful 
boys who leave their home in 
the States and make the danger- 
ous crossing into Mexico. And 
once again, their crossing be- 
comes a kind of metaphor for 
the emotional traversing of bor- 
ders between civilizatkm and 
nature, order and chaos. 

In his earlier books. McCar- 
thy's debt to Faulkner —- in 
terms of both language and vio- 
lent subject matter — has been 
ferociously clear. ' . # 

In “The Crossing, that debt 
has not only been pushed to the 
point of parody, but it has also 
Keen ornamented with gratu- 
itous borrowings from Cervan- 
tes, Hemingway, Gabriel Garcia 

McM, SS^ 

John Ford westerns. Although 

the novel achieves 

meats of emotional grandeut 

the overall result is 

nnstmodenust master piCGt^ DOT 

derivative, sentimental and pre- 
tentious all al once. 

SSsis^m: 

^caches the animal, 
ivdy decades to re- 


‘ turn ft to its home in the Mexi- 
can JuDs, He muzzles the ywff, 
paisa collar and leash around its 
heck, and sets off for the banter. 

When tho wdK meets an un- 
fortunate and violent end, Billy 
closes his eyes and imagines her 
in heaven, imagines "deer and 
haio and dove and groundvole 
all ri&fr empaneled on the air 
for her delight, all nations of the 
possible world ordained by 
God of whichsbe was one 
among and not separate from.” 

Though this is touching, it ul- 
timately dmnnishes and senti- 
mentalizes Faulkner's fierce, un- 
com p romising vision of nature. 

Having boned the wolf. Bitty 
makes the long trip home, only, 
to discover that horse thieves 
have lotted Us mother and fa- 
ther. Once again Bttfy saddles up 
his horse and, accompanied by 
his younger Twodtet “Bovd, he 


wolf . 
cm his 
ranch, 
then 


sets off again to.retrieyte hxs fam- 
ily's stolen horses. . 

A series erf picaresque adven- 
tures ensue, in which Bitty and 
-Boyd meet up with a succession 
of gypsies, banefits, moihas and 
peasants. Some of these strang- 
ers are kind, mid some of them 
are cruel, threatening to IdD, 
mafra or. hurt the boys. Thar 
mission will culminate m along 
perilous journey, remmiscent of 
Captain CaFs final p3grintf®e 
mum end of Lany McMurtry’s 
“Lonesome Dow. 

However- different their cir- 
cumstances, almost all these 
people speak in the same por- 
tentous, prophetic terms. Mc- 
Carthy’s own proses particular- 
ly in the first half erf the book; is 
similarly heavy, announcing its 
cwn {signifi cance and the signif- 
icance of the author's intents. 

Toward the end of “The 
Crossing,” this mannered writ- 
ing gradually gives way to less 
pretentious prose, as McCarthy 
begins .to allow the drama of 
Billy’s story to take over. This 
shift in style serves no discern- 
ible purpose, however, and it 
makes for a disjointed, inorgan- 
ic book. 


Michiko Kakutam is on ike 
staff of The New York Tunes, 




AUTBOKS 

in: PublWrYow Book. 

eonnJeifid 

ijidiKiJn# BcHstoo, BJqpap&y, 
GMkbenfe .Static*. Poems, 
Picwo si«l ft* Bootes ' 
AVON »OQ*i5 (JTX 

l.DovcdaleStiKttoi, 

, Baivsrsea.Bufcapad, 

i SWlt <Ut. England 
Mcrota PnWitftpS 'faBQO#ti)n. 





house 


ARTS — Joan Mitchdl died in 
Paris more than a year and a 
half ago. She had been living 
in V&beufl since 1967, in a 
iditfly situated on a cliff 
overlooking a bead in the Seine ((he 
gardener’s itoose below had once been 
used by Monet). 

Like many true artists* she was a 
contradictory and solitary figure and 
her large, .vigorous paintings are both 
an expression and a trace of her dia- 
logue or rimmn^ argument with exis- 
tence. An exhibition erf Mitchell's late 
work at the Musfce dn Jeu dc Paume in 
Paris (through Sept. 11) and another of 
earlier work, at the Muste des Beaux- 
Aits in Nantes (through Sept. 26) re- 
veaT the power and range of which she 
was capable and remind one that she 
was among the truly outstanding 
painters of her generation. 


which she called her “bridge money,” 
that Mitchell was able to buy the house 
she lived in to the last. 

She first came to France on a grant 
in 1947, arriving at Le Havre on a 


est companions. She was frequently in 
Paris, but she was too independent and 
contrary really to enjoy the social side 
of the art scene. 


Liberty ship among the blackened 
hulks left ove 


MhchdT (1926-1992) grew up in 
Chicago. Her mother was a poet; her 
father, apromment dermatologist, was 
once blindfolded by the mob and tak- 
en out to minister to Al Capone’s syph- 
ilis. - 


Her grandfather, an engineer, built a 
number of bridges in Cbcago> and it 
was thanks to the money he left her. 


over from the war. At 21, 
she was a pretty, energetic and out- 
spoken young woman — the latter 
trait developing noticeably in later 
years. An admiring critic once de- 
scribed her as “disconcertingly forth- 
right.” 

Returning to America two years 
later, she settled in New York, where 
she underwent analysis, met such art- 
ists as Franz Kline and Willem de 
Kooning and, in her own words, 
“found ner life.** These artists, and 
the New York scene, provided her 
with the criteria that were to shape 
her life work. 

Six years later, she nonetheless re- 
turned to France where she met the 
French- Canadian painter Jean-Paul 
RiopeUe, another powerful artist and 
a larger-than-life figure with whom 
she lived until 1979. RiopeUe moved 
back to Canada, where he now lives 
and works in the wilds, having grown 
the tremendous white thatch of hair 
and beard of a prehistoric Santa 
Clans. 

MitcheD stayed on in Vfctheoil with 
the Malmcds dogs that were her dear- 


The rest is painting. 

Most of the time the works are glori- 
ously satisfying. Sometimes, although 


Mitchell was allergic 
to labels and generally 
objected to being 
deSned in terms of 
schools and trends . 


Some critics described her as an Ab- 
stract Impressionist (a term she deeply 
hated), seizing upon the fact chat she 
was living on Monet's turf. 

Yet, in a sense, there is something to 
be said in favor of the term — provid- 
ed one avoids any actual assimilation 
with the ideas of Impressionism. After 
all, as Mitchell pointed out, Monet 
ventured to render nature with a new 
sort of visual accuracy. 


sod of “naturalistic" interpretation, a 
more formal one (various oil colors 
arranged on a painted surface), and 
an understanding of her art as a sort 
of calligraphic or seismographic ex- 
pression of the artist's own psyche or 
sensibility. 


rarely, they fail to jell — organizing, 
color on canvas in such a scattered and 
allusive manner is, after all, a risky 
business. 


What the spectator sees is above all 
a conjunction of luminous colors, 
which some are tempted to view as 
“abstract,” but which others, following 
occasional hints from the artist herself, 
sense as transposed evocations of na- 
ture. 


Mitchell certainly did not attempt 
anything like that. But her colors 
(green, yellow, blue, or red), set togeth- 
er in broad, gloriously erratic brush- 
strokes, speak out in harmony like so 
many rich instrumental tones, and 
seem to have been borrowed from the 
same natural setting that inspired the 
Impressionists. The big diptychs ap- 
pear to confront one with the close-up, 
verdant intimacy of grass, leaf and 
varicolored petal, vibrating in the 
warming light of the sun. 


This triangular reference between 
nature, surface and soul keeps the 
viewer’s perception oscillating restless- 
ly from one to the other without allow- 
ing it to settle definitely on any one of 
them. 


Mitchell used the rich seduction of 
color to awaken a sense of nostalgia 
that appears lo touch upon the per- 
spectives of life and death. 


The Iasi time we met she mentioned 
sitting out on the lawn in from of the 
studio one day enjoying the sun with 
her dpgs. 


All art thrives on ambiguity, and 
Mitchell was quite right to reject any 
obvious classification. Even the evoca- 
tion of nature I have just suggested 
would fail to be convincing if it were 
merely that and no more. 


The three of them were communing 
in a deep, wordless well-being when 
Mitchell noticed that a snake had 
coiled itself over her foot. She was not 
at all alarmed but regarded the pres- 
ence of the snake as a sign of sons. 


Mitchell was allergic to labels and But the formal ambiguity of her 
generally objected to being defined in painterly undertaking keeps one’s 
terms of schools and trends. oerceotion oscillating between this 


This moment of truce in the height 
of summer may stand as an appropri- 
ate metaphor of a successful painting 
in which life and death appear to com- 
mune in the brief ecstasy of the mo- 
ment 



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International Herald Tribune ; Saturday-Sunday, July 9-1 Q, 1994 • 


Page 9 



Fokker 

To Gel 




THE TRIB INDEX: 112.37& A Bailout 

International Herald Tribune World Stock index ©, composed of *■ 

280 intemationafiy invsstabfe stocks from.25 countries, oompHed 

by Bloomberg Business News, Jan. 1 , 1992= 100. ' Thi+jJt mA 


* ... 


Dutch and DASA 
Reach Aid Plan 


REITs Go to Wall Street 1 U.S. Jobs Data 

Real Estate Finds Niche in the Market Depict Strength 

*>sss£ss- In Economy 

NEW YORX— The $3 trillion commercial After property prices plunged in the lata / 

i ■ < i* INu’taJ CMfu w lGSfk riu» cairinoc anf) Iran institutions. COlIh 




.. .. 

' Wor'd Index 

L* ***•*• "IX ' **.V c. • 

>v : - 

i - . . 

* > t,*. . < 


Asia/Paciftc 


' " ‘ : 


Approx. wigMlng: 32% 
Close: 132.40 Prav.: 13237 


AppnxL weighing 37% 
Close: 112.11 Pn»- 11137 



AMSTERDAM — The 
Dutch government and Deut- 
sche Aerospace AG have agreed 
on. a finan cial rescue package of 
aboufl trillion gufldere ($565 
million) for Fokker NV. 

In aletter to the Parliament 
Koos Andriessen, the cconom- 
ics mminteTj said Friday that a 
number of measures had been 
agreed with Deutsche Aero- 
space to sttengthen FokkcFs fi- 
nancial position. 

- “It is dear that the situation 
at Fdldcer requires a wide num- 
ber of measures whereby all 
parties involved will have to 
make an effort,” Mr. Andries- 
sen said. 


By Laurence Zuckerman Behind the change is a desperate shortage 

y of money. 

NEW YORK —The $3 iriffion conunexdal After property prices plunged in the lata 
real estate industry in the United States is 1980s, the savings and loan institutions, corn- 
being transformed from a collection or secre- mercial banks, limited partnerships and m- 
riwTf n nril y-dnminated fiefs into public compa- surance companies that fiuanced the real es- 
nies beholden to thousands of shareholders. late boom of the previous decade were 
Many investors and property managers say saddled with billions of dollars of bad loans, 
the change heralds an era in which real estate Many stopped lending to property ownws. 
companies will have to answer to Wall Street What rescued many owners was the redis- 

Opening the books, devising plans for covery of a monbund financial vehicle creat- 

growth ana living up to them. 

The companies also will have a lot more 
money to mai n tai n their properties and ac- Prnnprtv comnanies 
quire other buildings. Some analysts said the rro P er v companies 
kind of overbuilding that characterized the increasingly will have to 
gro^erty boaaess in. tbe 1980s would be less to stockholders - 

In the past 18 months, more than 75 real oDenina the books, devil 
estate businesses have started to offer stock j .® , 

on U.S. exchanges. plans for growth and 1m 

In the same period, companies owning ev- _ .1 

erything from apartment buildings and outlet U P TO uieni- 

malls to office towers have raised more than 

$25 MEon on Wall Street — as much as had 

b ftffp raised in the previous seven years. ed by Congress in 1960: the real est 

Yet $25 trillion is only a small beginning, ment trust. Intended to give small 1 
some experts say. They estimate that the val- chance to invest in real estate, 1 


North America 


Appro. weighSnp 26% 
Ctosec 81.71 Prvj B1J57 


Latin America 


Approx, wey*® 5% 
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Far Tokyo. Now Yak and 

London, lha Max a composed at tho 20 top boros in dam at market ceptUadm. 
atomise tho ton ttpssxks an tacked. 


Industrial Sectors 


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10737 109.11 -1.59 

120.17 119.76 .4034 

11830 11731 iOM 

11634 11660 -022 


Capita Goods 
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Cotuumr Goods 

JHcetawm 


112.47 11239 -0.11 
12429 123.71 +Oj47 
8BJ2 9675 -10.17 
12230 121.63 -1035 


For mm Moimaeon ^omtha Mac* booUaikaMMIebaa id dnya^^ 

vmotoTVbtndBX, 181 AvonueCtrartos do OaMB,92SZl NaOty Codex. Franca 


- The aircraft maker, which 
posted a loss of 460 million 
guilders last year, has said it did 
not expect to Turn a profit until 
at least 1996. Fokker now has 
about 9,000 workers, mostly in 
the Netherlands, after a global 
downturn in the aviation indus- 
try forced it to cut its work force 
fay 20 percent Ibis year. 

The government owns about 
16 percent of the company, 
while Deutsche Aerospace, a 
unit of Daimler-Benz AG, owns 
51 percent 

The bailout consists of a 
combination of capital injec- 
tions, sale-and-leaseback trans- 
actions for Fokkeris aircraft 

technology and die setting up of 
a joint commercial lease com- 
pany between Deutsche Aero- 
space and Fokker. 

Fokker said the package 
would substantially improve 
drc company's finances. 

Mr. Andriessen said Deut- 
sche Aerospace agreed to par- 
ticipate “considerably,” but a 
company spokesman said from 
Munich that “details have yet 
to be worked out” 




answer to stockholders — 
opening the books, devising 
plans for growth and living 


ue of publicly owned property companies, 
many of which take the form of real estate 
investment trusts, could rise by 10 times or 
much more in the next decade. 

“This could be the thousand-year flood for 
real estate in this country ” said Richard 
Rainwater, a Texas financier who has staked 
both his reputation and a large hunk of his 
fortune on the success of a property company, 
Crescent Real Estate Equities, that began 
trading on the New York Stock Exchange in 

^Property owners and investment bankers 
profit handsomely from taking companies 
public, said H. Dale Hemmer dinger, presi- 
dent of Atco Property and Mana g e m ent, a 
commercial property company in New York 
City, even vwule the properties these compa- 
nies own are stQl hardly profitable. 


ed by Congress in 1960: the real estate invest- 
ment trust. Intended to give small investors a 
chance to invest in real estate, the trusts, 
known as REITs, are exempt from corporate 
income taxes. In exchange, they must distrib- 
ute 95 percent of their net income to share- 
holders as dividends. 

When interest rates fell in the early 1990s, 
the dividends paid by the trusts — currently 
averaging about 7 percent — appealed to 
investors. The resurgence of trusts in late 
1991 gave some of Wall Street’s sawiest in- 
vestors the idea of buying nearly bankrupt 
properties from insurers, banks and (he gov- 
ernment 

Rather than liquidate their holdings at 
steep discounts, many debt-saddled real es- 
tate managers decided to offer shares to the 
public. In the last three years, real estate 
investment trusts have outperformed the 
Standard & Poofs index of 500 stocks. 


China’s Stock Sales Indicate 
Foreign Investors Are Wary 


v/ # - • j ;; 


©International Harekf Tribww 


ECONOMIC SCENE 


UUUHOUIT, , 

frpuman said from By Kevin Murphy 

“details have yet Inunuzaonat Herakt Tribute 

i out.” HONG KONG — China’s 

(Bloomberg, AFX) experiment in bringing its large 
state enterprises to the stock 
mark et stumbled Friday anrid 
signs of growing wariness 
among foreign investors. 

Shares in Luoyang Glass Co„ 

tiie first company in a second 
ATV m batch of 22 Chinese enterprises 

fyf 1 1 cleared by Beijing to sell their 




g£g£ 


Sfer 


By Erik Ipsen • . . 

• - Inuntaticmal Beraid "Marne 

L ONDON — Going into their meet- 
ing in Naples tins week, leaders erf 
the seven most powerful industrial 
countries have taken an unnsual 
step. In ante of a rising clamor from thar 
lCTdcra in the bond market to respond to the 
risk of higher inflation or pay the conse- 
quences in higher interest rates. Officials have 
stood pat They have loudly rrfusedtoalter 
thdr policies to fit the whim ofthe market. 

Oddly enough, that obstinance now finds 
increasing backing from players in the bond 

market itsdf. , , . . --i - 

“I think policymakers would be wiLaO- 
vised to ignore the bond mark ets, said Nigd 
Richardson, head of bond research at Yamai- 

chi international- _ . e • ■ . 


fleeted nothing more than peculators seizing 
a potentially profitable opportunity. 

FhilH p Crowson, chief economist for RTZ 
.Carp., the largest mining company in the 
world, is dear in his view of the metals mar- 
ket: “At the moment the price rises seem 
premature. The market has cond ens ed two 
years of price rises into six months.” 

Adrian James, European band strategist 
for NatWest Capital Markets LttL, lays the 
blame for the aberrant behavior of commod- 
ity prices on a vicious drde that has its 
origins in the bond market. “One of the rea- 
sons vriiy bond yields have risen is bocause of 

rises in commodity prices, which rose on fears 
♦Rat- higher bond yields were sign alin g higher 
mfia tirm, which is traditionally bullish for 
commodities,” Mr. James said. 

Jerany Hawkins, chief economic adviser to 


stock abroad, dosed 20 percent 
lower than their initial listing 
price of 3.65 Hong Kong dol- 
lars (47 cents) a share. 

At the same time, reports 
emerged . of a rift between 
Shanghai Haixing Shipping and 
Morgan Grenfell Asia Ltd., the 
merchant hank bringing the 
company’s shares to market, 
over the price Shanghai Haix- 
ing could realistically expect 
from a dour market. 

But in the debacle, fund man- 
agers and analysts saw signs 


925 » 


SSfei 




merchant bank bringing the shares in state-owned compa- 
company’s shares to market, nies desperate to raise hard cur- 
over the price Shanghai Haix- rency for eroanaon. 
mg could realistically expect Worries about the financi al 
from a dour market. strength of subsequent listings 

But in the debacle, fund man- pud Beijing’ s ability to engineer 
agers and analysts saw signs a soft landing for its overheated 
that the market for Chinese economy have made the second 
shares was entering a more ma- batch a tougher sell in more 
tore stage with lower but more bearish times for investors 
realistic expectations for future worldwide. 

' H ' *1* 'Trf V nvt/y’r IfAlf ITono 


rhi TntcmaliQaaJ- jeremy nawitm^taLiia cwuuiui^ 013 wv 

Months of steeply firing bondyidds. whkit the Bank of America in London, concludes: 
tratf tionaBy rigpal market fears of higher -The causation arrows rot aB. wron^Tbe 
led many expertstoques- sheer size of ti« bond markets has causedtbe 
wisdom. In his weekly comr. cart to lead the horse. • • .• 

tiem the n™® ctmteeist at • - TV#. k that plobal bond markets 


strategist at - The pn>blemisthatgk>^^d marinas 
xJr^ro^’otanlev & Co^ heaped scorn upon are so immense that it has became a bit like 

predtafu- sleeping with an dephanL Th«r^itest 
financial markets tsntdr cansend other markets — aprencae^ 
insight into inflation orthe commodities and equities — spiraling out of 
”** 1995,” he said. They bed entirely. 

S^^tbe future — instead they But many economists that the bond 

it” market’s power is mcreasingly at odds with its 

“Si? Soros, the influential market doubtful prescience. Many say thatone of the 

maricets “can change market’s biggest^ ^ proWems ti^ war is nm 
which are supposed to de- inflation but bad judgment Bonds m 1993 

prices,” according to Mr. had proved to be soda a successful and hicra- 
^nnme znanret pn ^ that most fund managers entered 

“EL. ^ example, metals prices. Thor 1994 stuffed to the gffls wilh the stuff. What 
Take, iw autu nm was cited by those investors needed was a continuing flow 


JSor. bS said the matketa^n cfaa^ 

of future mflafionaiy 


See BONDS, Page 10 


offers arising as a result. 

“If tltis issue had come six 
months ago, it would have bear 
up 20 percent instead,” said 
Nick Moakes, an analyst with 
S.G. Warburg Securities, of 
Luoyang Glass. “What people 
are doting at last is looking 
closely at the merits of individ- 
ual companies.” 

During last year’s bull nm in 
Asian equity maricets, China’s 
first group of companies to be 
listed in Hong Kong triggered a 
scramble among investors that 
strained Hong Kong's banking 
system and pushed share prices 
to premiums. 

Bat after strong starts, most 
of China’s H-shares, as the se- 
curities traded in Hong Kong 
are dubbed, have cooled, damp- 
ening international demand for 


The Hong Kong’s key Hang 
Seng Index has fallen 29 per- 
cent since the start of the year 
and is still sliding. Fund manag- 
ers are now demanding lower 
asking prices for the shares of 
newly listed companies. 

China’s domestic stock mar- 
ket is in turmoil as waves of new 
share listing s and a massive sale 
of Chinese government bonds 
offering much better invest- 
ment returns have sent its A- 
shares spiraling downward. 

At the same time, the Chinese 
traded shares designated for 


foreigners only, B-shares, have 
also performed poorly as early 
euphoria about thdr creation 
has given way to doubts about 
individual companies’ business 
plans and future profitability. 

Difficulties on all fronts have 
confronted Chinese securities 
regulators with a host of unpal- 
atable alternatives from accel- 
erating the opening of its mar- 
kets to foreign investment — 
with an inevitable loss of con- 
trol over individual companies 
— to raising less cash from the 
sale of state assets. 

In an attempt to comply with 
investor demand, lead under- 
writer Morgan Grenfell has re- 
quested coastal shipper Shang- 
hai Haixing to lower its opening 
share price to a level that has 
been rdected by China’s State 
Administration of State Proper- 
ties. 

Chinese regulations do not 
permit any company to issue 
shares at price that falls below 
its estimated net asset value, ac- 
cording to an administration 
spokesman quoted by Bloom- 
berg Business News. 

“We estimate the net asset 
value at about 1.4 yuan, and 
their offer fell below this,” said 
the spokeswoman whose orga- 
nizations supervises the sale of 
state-owned enterprises. 

Morgan Grenfol, which had 
planned to price the issue on 
Thursday, said negotiations 
were continuing with the Chi- 
nese authorities. 

See our 

Arts and Antiques 
every Saturday 


By Lawrence Malkin 1 

International Herald Tribune 1 
NEW YORK — Signaling a 
robust U.S. economy, the gov- i 
e mmen t on Friday reported i 
strong job growth in June with- 1 
out wage inflation. ' 

The news, which raised ex- j 
pecia lions in the financial mar- ^ 
kets that the Federal Reserve < 
Board would push U.S. interest ' 
rates up sooner rather than lat- ! 
er, sent bond prices tumbling | 
but failed to rouse the dollar 
out of its slump. 

The Labor Department re- 
ported that the U.S. economy 
created 379,000 new jobs in 
June, around 100,000 more 
than forecasters had expected. 
Labor Department specialists 
warned that most of those extra 
jobs probably would be given 
back this month, as the June 
survey had an extra week in it 
because of calendar quirks. 

That would keep the growth 
on a track or about a quarter of 
a million jobs a month, almost 
entirely in the service sector and 
many m part-time or temporary 
c umme r employment — includ- 
ing thousands hired to handle 
World Cup visitors. These sum- 
mer jobs helped depress wages. 
and June’s average hourly earn- 
ings actually declined one cent, 
to $11.08, while the work week 
declined one-tenth of an hour, 
to 42 hours. 

In Naples, leaders of the 
Group of Seven industrialized 
nations were gathering for their 
summit meeting seemed con- 
tent to urge markets to “keep 
focusing on the fundamentals,” 
as President Bill Clinton put it. 
Meanwhile, Lloyd Bentsen, the 
U.S. Treasury secretary, said he 
saw no need for higher interest 
rates “at this point” 

The monthly employment 
numbers were strong enough to 
convince most of Wall Street 
tha t the Fed would raise interest 
rates eventually but not now, 
“when the G-7 is having a meet- 
• mg and just tins sort of thing is 


bring discussed,” said Allan Si- 
nai of Lehman Brothers. 

The unemployment rate re- 
mained stable at 6 percent, 
which many economists take as 
the minimum level before infla- 
tion starts kicking in. But the 
rate remained low in large part 
because the labor force has de- 
clined by 419,000 since the start 
of the year — when demograph- 
ic forecasts say it actually 
should have gone up by 
700,000. 

There is no explanation for 
these missing workers. But if 

See JOBS, Page 10 


Metals Giant 
Continues Loss 
On U.S. Unit 

Bloomberg Business Nm 

FRANKFURT — Me- 
tallgesellschaft AG, still 
reeling from losses at its 
U.S. oil-trading unit, re- 
corded a loss of 1.54 billion 
Deutsche marks ($970 mil- 
lion) for the first half of its 
financial year. 

The metals and mining 
company said it would have 
reported a profit for the six 
months ended March 30 
but for the U.S. subsidiary, 
Metallgesellschaft Corp. 
Because of that unit’s 
losses, Metallgesellschaft 
reached the brink of bank- 
ruptcy in late 1993. 

For the full year, Metall- 
gesellschaft forecast a loss 
of about 1.9 billion DM, 
unchanged from the previ- 
ous year. That means that 
in the second half the com- 
pany will record another 
loss of more than 300 mil- 
lion marks that cannot be 
blamed on U.S. operations. 


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Corny Gumcy 


12 month* 
4- 2 month* 
FREE 


C months Sm ooths 
*■1 month 


CURRENCY & INTEREST RATES 


Cross IWM 


AddMedom 


' July 8 

itss _ M . U 5 , Yt* c*r Pmtla 

* * SM- FA uro too un* uw ub* 

uw w* “2 52 — «« «* «*»* 

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« months 5HHH4 4?M 4«r4h. 


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ubi «s» Ban lias mw US 


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"MmHh 1HAB 


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2moemTr«asHnrbp 4S« 

HHrTlMMVhUl 526 

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w mn LTmcmaaay ft sa drnn ot 1/6 
JQpm> 

MscoiiatniM 1 * 

CaBnooey S 

VnwUh Werfeash 2 

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CIom Prev. mwtt 
3Vi 3Vj Baakb 
716 716 CafltM 


lyauiTrsntonrnnts 
7-yamr Trauary aoie . 
lloaorTreo aanaott 


- - M Jnr »warOOoem*MdBMd 

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m Book Bam rale 5V. 

716 Caflmaanr 4W 

_«k laaoalh taneraeae 

420 SmaalhJsHrbank ft* 

505 frmoani Wertonk 5J 

426 lhnarOllt 142 

5M Franco 

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rS Call homf SMi S tw 

VflHattl MWtMBk 5* 5* 

ShbhUi Mmank 5*. 9b 

6 m en u Menw £*; » 

*** H-vtarOAT 7/a no. 

Sources: Reuters, Bioomoers, Merrill 
IK Lyncn. Sank of Tokyo, Commerzbank, 
2 OneamMlMtmlaou.cn/dnLimaais. 

a J Gold 

.. AM- PM. OiVe 

w Zurich sm-k 38150 —550 

• . London 383/0 38115 + 0.15 

J® Hew York MM 385.10 

>m L/-£ dollars per ounce. London ottkMfbf 

jjOO toot; ZurhSi anti Hew York opening ana <das- 

SM Prices; New York come* iaobush 

7J01 Source: Heaters 


On How to Profit 
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1. “'225 TAX HAVENS” 

Revised and Updated in 1994 From the Earlier “218 Wbrnsr. 
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Whwe You Can Set Up Your Bank and Hoik lo Apply. 

4. t£ HOW TO BECOME A LEGAL HOLDER 
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Totally Different Revral-iLAU Guide to 51 Foreign Passports. 

3 The Bea, Cheape&and Fasl«l ^> s ^ 

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Page 10 


INTERNATIONAL HERALD TRIBUNE^ SATURDAY^UNDAY, JULY 9-10* 1994 


TTTv.XT 




liS./AT THE CLOSE 


Blue-Chips Rise 
As Fed Stands Still 


I Via Aaiod af d PrtiJ 


Dow Jones Averages 


EUROPEAN FUTURES 


Metals 




Indus 36MOT 3709-44 3474.17 3709.14 t2072 , 
Trans 15*034 14053915*1X5160252 +SX7 
urn i7?.w ibijz i7s jo ibiji to at 
Comp J»l J4 WOT 1S80OT 1390J8 *407 


uw, Last Sams Cktee 


Compiled by Ov Staff From Dapatdsa 

NEW YORK — Blue-chip 
stocks climbed for the fifth 
straight session Friday after the 
Federal Reserve failed to raise 
interest rates despite a stronger- 
than-expected June emploY- 




than-expected June employ- 
ment report. 

Hie Dow Jones industrial av- 
erage dosed 20.72 paints higher 


U.S. Stocks 


at 3,709.14. In the broader mar- 
ket, however, there were six los- 
ers for every five gainers. 

Although the Fed did not 
raise the interest rates that it 
controls after the strong jobs 
report, concern over the rising 
general level of rates weighed 
on the broader market and on 
the bond market. 

A spurt in the price of Alcoa 
after release of the company’s 
second-quarter results, plus 
buying of other cyclical stocks, 
helped hoist the Dow Jones in- 
dustrial average back above 
3,700. 

Bond traders, however, 
bailed out of the market imme- 


diately after the employment 
figures woe released. 

Prices of all maturities of 
U.S. Treasury notes and bonds 
remained lower, with the 30- 
year issue off $8.75 for each 
51,000 of face value, driving its 
yield up to 7.69 percent from 
7.60 percent late Thursday. 

Trading was moderate, with 
233.6 mifnon shares changing 
hands by the close of trading on 
the Big Board, compared with 
258.5 million in the previous 
session. 

The NYSE’s composite index 
advanced 0.54 to 248.11. The 
Nasdaq index was up 0.44 to 
706.97. At the American Stock 
Exchange, the Market Value In- 
dex was 0.80 higher at 425.45. 

Nike shares touched a 52- 
week high of 62% after the 
world’s largest athletic shoe 
company reported better- than- 
expected fourth-quarter earn- 
ings. The shares dosed at 62M, 
up 214, on volume of 674^200 
shares, almost triple its three- 
month daily average. 

(AP, Reuters) 


Standard A Poor’s Mam 


^ Ai6' $$ 

'•*: -: v 

f - -<Vf • '•v't •kisi'"’ 


Prrrtota Today 1 
HM) Uw Ooh CM 
Industrials S21J9 SWOT BUS 322OT 

TrtBttP. WAS 38536 38536 ®S 

Utilities 15475 15X73 15432 154.19 

Finance 4476 4451 4472 445V 

SP 500 4044 446.13 44138 44055 

SP103 4U.14 41172 47456 <1401 


• IM Ask * IW 

Soor 152100 tmoo 1482X9 

Eyw u nl 1539X0 154050 U06OT 

copper cathodes ihm erode) 
niton per entile Ion 
Seat H48OT 244M0 2377X0 

Forward 2447J0 344050 239650 

HAD 

DeOare per metric tpa 


lay 160JO 15955 159 JO B9J0 4-050 

>fC MUO MIX? IfUB 1ST JO +050 

to 16350 16250 16350 16350 +150 

teb HUM 16250 16ZJ0 16279 +029 

Eri.whim«ZUI8. Open M. 24490 


Banker Pleads Guilty in LCCI Case 

WASHINGTON (API - 


S5S^lSiWiS8.w.-j. 

An 17X5 .17.13 1777 1777 +029 


tor shot 50X00 55950. 
Fonwrd .59X00 59050 57450 


A«f : T7A5 ir.W 1777 1757 +059 

SOP 17J1 W 1755 .1756 +115 

Oct 1759 1*gt IMS-HB+M* 


NYSE Indexes 




Hfcti Low Lori Ch* 








Comaostn Z40.ll 24063 240.11 +036 

Industrials 305X0 3COM J05J3 *0 39 

Tronso. 94454 24273 34452 *756 

Ulfllly 20457 20254 20457 *050 

Ffiwnco 210.72 20952 21072 -020 


5M E173JM SWAM 406000 

Foment 624550 426050 615550 

TIM . 

Mima fit metrician . 

Soot 530000 5310X0 5173X0 : 

F tn w ri 527050 530050 535050 , 

ZINC Owe M ’em Onto) 

Donor* par motile fee - 

Spat 15950 MOOT *4»J0 

Parwant VB50 90350 97350 


NOV 1755 

DtC 1671 

•tat MM 

FfO Wl 


1674 .1650 +012 
1654 1655 +0.12 
1654 1678 +U1 
1610 MTS +0.T7 


is the 

higbcst-ra^^BCCi executive to pkad gufltyr in the US.prose- 
cution <Jtb«Jobalbank fraud case. 


IMS )654 1665 1645 +177 

Apr 1640 1450- 1440 1640 +UT 
Eat. vokime: 40X0,- Opan W. M&4U 


AT&T GbenL'.LT«lectwni !****« 




British telecommunications •— r . iu.^. a*“wdi *> 

telephone services for 

(U^pBMOaina. MdMtioflv fiuts AT%T fte 


Financial 


NASDAQ Indexes 




7HT 


Compai to 

Mduarlab 


704LB7 704J0 7WJT7 -044 
715.57 711.16 71553 *157 
76554 76077 7647.5. —176 
Blow 887J3 B8U5 *L70 
93351 93152 93255 —022 
60251 48741 69353 +653 


NYSE Most Actives 


WcOMart 

A AicrTci 

CompsKa s 

AuioZns 

LSI La 

NBvPw 

Merck 

Rmic 

CnMoTr 


VOL 

Mgti 

Lew 

Lent 

at*. 

42553 

30M 

29*4 

30*4 

-V. 


4966 

4*K 

49W 

+ 14 


4*14 

48*4 

4844 

—14 


57% 

56*4 

56H 

— *4 


14*4 

13*4 

14 

+ 44 


1814 

17V4 

17*4 

—414 


34*4 

24W 

2414 

—14 

371V 

36*4 

3644 

— 1A 

29555 

3414 

33M 

3314 

—44 

1*536 

2414 

2M4 

2316 

— H 

1*011 

2814 

2614 

2844 

+ 114 

18314 

19*4 

1* 

1*14 

+1* 

11*3* 

2*94 

2*44 

29W 

— Ik 

17318 

30*4 

30 V* 

304k 

+ M 

14613 

53 U, 

51 Vk 

SI *4 

— M 


AMEX Stock lnd« 

IX 

Man Law 

42052 423J1 

Lost Che- 

425X5 +080 


■ Dow Jon mi Bend A 


30 Bands 
ID Utilities 
10 Industrials 


9655 —047 

93.14 —047 

10054 — 048 


HKA low dm Oann 
I JAKHfTH STERLIN0 (LIPPE) 

I50M0O- PM Of M0 Kl 

Son 9457 *432 MSI —053 

He . 9X44 9155 *357 —054 

Mar 9X95 9250 9X91 —051 

Jan 9230 *230 1 9X33 —003 

SOP 9U2 9154 9150 —053 

OK 9153 91AB .VLSI +051 

MOT VI 30 *154 *150 —051 

Joo V150 VUM VMM —052 

SOP VUO 9054 *057 +051 

Dec 9066 *043 9047 +OM 

Mar 9047 9043 *040 +054 

Jn *053 9050 *036 +051 

Est. volume: 4051*. Open btL: 53T54L 
S+WHTH KURD DOLLARS CLIFF!) 

H mflllan - pts Of HO pet 
SOP 9474 . 9473 MAS —012 

DtC M54 93J6 9352 —0.14 

Mar 9376 9346 *343 —016 

Jwi 9335 93L35 9333 —016 

to N.T. N.T. *359 — 0-14 

ICxL volume: 477 Open Int.: 6047. 

3-MONTH BUROMAMCS (UFFE) 

DM1 mODoa - Us of HO pO 


■ ■ Stock indexer 

s smS “ 

SOP 29760 29375 29995 — HA 

fgfgtBZ , p-to 


same looting as British Tdecwmmnmcations PLC Initially, 


AT&T wfll compete for business users. 

m. . ¥i n r.._J TV— . .tm rat nHMV. I 


JM 193540 191000 192450 —650 

AUP 1*27 JQ 1*2050 191250 —540 

SOP 194*40 192740 1M050 —550 

■MC N.T. N.T.: 1M058 —AS. 

MOT 19*350 199350 19*950 —250 

Est. volume: 2S50S. Open (fit,: 71416 
Sources: Mat If. AscMtorto Prw*s. 

London Ian KaoMal.FMuns Oahaaen; 


The U^. Justice I 
when it approved an 
tuxosCocp. 


an made the first move last month, 
between BT and MCI Comraunica- 


■ * — — r - ■ - 

Viacom Sports Umt Putat^l Billion 

,TT«, or-LL. t»U4w\ — Thr Vnemn Inc. rfumtnnr 


- uuurauuuL 


Gita Inc PlM 
Strut Gift Inc 


_ J7 7-M 7-»] 
- 30 7-11 70*f 


NEW YORK (KairfH-Rkide^-- 

SumnetJtedstoae.ss^^fdannrf^rf'Wa^ 
which Madison Square Gardeo,.the New Yadc Kxscks 

amTNdw Y6rik Rangers roods teams and die MSG cable tdevi- 
skm aetwoik — could bong in SI bOHon os . 

Ife «i^r *hr. r vtmpany , « pimig to turn ns nearly HO buBon debt 
“could be reafized alol socmer.” That 
debt indudes preferred stock accumulated from its acquisition of 
Paramount ComnnmicatiaflS- 


JOBS: Data Show Strong Economy 


NASDAQ Most Actives 


NYSEDIimt 


Contkned frosi P&ge 9 
they show up later in the statis- 
tics as job-seekers, they will 
raise the unemployment rate 
and relieve the Fed's inflation- 
ary fears. 

These aberrations in both the 


job-creation and unemploy- 
ment statistics are among the 


Foreign Exchange 


factors thought to be keeping 
the Fed temporarily on hold. 
There is a wide spectrum of 
opinion on Wall Street about 
when the central bank will actu- 
ally tighten, ranging from next 
week, when strong retail sales 
figures for June are expected, to 
as late as September. 

Markets already had begun 


driving up rates with Friday’s 
report Yields on 30-year Trea- 


report Yields on 30-year Trea- 
sury bonds rose to 7.69 percent. 


suiy bonds rose to 7.69 percent, 
the highest since Nov. 9, 19 92. 

Since the start of the year, the 
Fed has raised rates a total of 
1.25 percentage points in incre- 
ments of one-quarter of a per- 
centage point to by to stay 
ahead of inflation. 

None of this helped the dol- 
lar on Friday. It took another 
sharp dive when Mr. Clinton 
told the press in Naples that 


things could be worse — that 
the dollar had been lower 
against the Deutsche mark in 
the past and would rebound in 
due course. 

The dollar dosed at 1-5610 
Deutsche marks in New York 
trading, down from 15716 DM 
cm Thursday. It also was down 
to 98.055 yen from 98.600 yen, 
to 1.3160 Swiss francs from 
1.3235 and to 53650 French 
francs from 5.4035. The pound 
was at SI. 5495, up from 
S1.5405. 

But a dollar rebound seemed 
to be the growing view in New 
York, although traders, in typi- 
cal fashion, also rushed to cover 
their positions. Sam Kahan of 
Fvgl Securities said Wall Street 
had begun to accept that the 
dollar was not in real trouble, as 
it was actually getting stronger 
against the currencies of such 
major U.S. trading partners as 
Mexico and Canaria. 

The Group of Seven will a cl 
wisely if it rides out the storm, 
said David Roll 


Intel 

Ciscos 

MiCSftS 

Oracles 

AfKdUWl 

Apei-tus 

Sybase I 

WfeOffts 

NewbMc 

ElcArt 

SnaeBvs 


VQL Moll 
45083 59 K- 
44960 Z3* 
30242 50% 
24600 3*U 
25771 46M 
25068 iVi 
34351 4716 
21*10 21 
71BBB 37* 
20404 14Vk 
200C5 19* 
19920 22 "4 
196Q5 23M 
19057 20* 
18498 27* 


Law Last 
smt 591a 
22*. 22* 
4916 am 
□7W J7UA. 
43tt 46Vh 
4 4tt 

44 44V, 

IW4 20 
341b 371b 



95.17 

*544 

9546 

+ 001 

Dec 

MOT 

MSS 

MOT 

+0J02 

Mar 

*470 

MX4 

MX* 

+ 003 




MOT 



*<13 

MX5 

MU 

+ 007 

EMC 

93X2 

9376 

*3X2 

+ 005 


*3X1 

9157 

9342 . 

+ 0X6 


93X3 

9436 

93X3 

+ 0X4 

ire 

9021 

9X21 

*321 

+0X6 


*297 

9233 

92S7 

+ 006 


*2X3 

92X3 

92X3 

+0X6 

Jm 

*266 

92X4 

9169 

+ 004 


MITTAL 

a .30 T-W 7-2* 

. 56 7-21 MS 

INCHHASBD 


Strikes Are Raised in Scrabble Battle 


Food Lion A 
' Food Lion B 


Q 5231. 7-21 .8-4 1 
S 5906 7-21 6-4 j 


CORRKCTKHi 

Patriot Gteoty x .1011 ' 7-13 ' M 

x re vis ed payable data. 


Total Issues 
New Molts 
New Lows 


Est volume: 66*66. Open tnL: 035.64L 
3-MONTH PI OOH (MATIF) 

Fn tonoo - Ht> onoo.pa 


IK nr 

211b 211b 

221b 22H 

191b 20% 

24% 27Vj, 


AMEX Diary 


AtMincsd 

declined 


*447 

MJTT 

MOT 

—014 

*1*1 

*U0 

nos 

— 008 

9170 

93X1 

*167 

— 0OT 

9140 

*137 

*3X5 

—0X3 

9349 

*120 

9326 

Unch- 

*3X7 

92 OT 

7104 

(Iirr 

92X7 

92X1 

*2X6 

+ 0X2 

*276 

*269 

9174 

+ 001 


AMEX Most Actives 


Tales Issues 
New Mans 
New Lows 


Vlaemri 

XCLLtd 

aievsns 

VrOCB 

VtacwlC 

GrevLne 

B+rnac 

TooSrce 

EdioBay 


VoL 

Mob 

Law 

Lari 

an. 

11583 

514 

5V* 

5)4 

+94 

6295 

11k 

1«6* 

14k 

_ 

5140 

BVk 

0V4 

814 

_ 

6528 

32 

30*4 

32 

+ 1\k 

4344 

114 

1V4 

194 

+ *1, 

4235 

614 

5Vt 

5*4 

— hi 

3956 

1 

16 

1 

+S 

3116 

5M 

48t» 

514 

+ 1*4 

2706 

10*4 

1094 

10% 

— *4 

23B3 

299k 

2* 

29*9 

+ *4 


NASDAQ Diary 


Adwanced 
DacOned 
Uncftanaed 
Total issues 
NewHteOn 
New Lons 


Spot Commod W m 


EsL volume; 76228. Open kit- 2BUML 
LONG GILT (UFFE) 

■SAM - Sts 6 Ms of HO pci 
SOP TVHS 99-35 10149 +040 

DK N.T. N.T. Kota +060 

Est. vaMne; 86SSD. Opan bit: 112,106 
GERMAN GOVERNMENT BUND (UFFE) 
DM 25MM - Pts 0* TOO Pd 
SCP VZ5D 9151 914* +046 

Dec 9140 9178 9146 + 051 

EsLvohene: 11646*. Open ML: 136286 
10-YEAR FRENCH GOV. ROHM (MATIF) 
FH06M-ptSOf1W*Ct 
SOP 11476 HOB IKS* —048 

DK 11346 11372 —024 

Mar 11340 TOM 11350 —ms 

Jn N.T. N.T. N.T. Unch. 

Est volume: 136024. Open btf4 13662X 



Q JDS 7-18. 

Q MS 7-15 7-28 
Q J4 7-18-7-39 
O .18 7-22 M2 
M 535 M2 7-2* 
M .M 7-18 7-29 
O M 7-18 8-1 

8 - 55 7-18 61 

53S 61 m 

S A MO M 
AS M HM 


U»IDOK(AF) —The U-S. gamemaker Hasbro Inc, increased 
thefante Frid^y in its bid for a woddwidc monopedy to sell the 
boat&'mme Scrabble. . , . „ , 

Hasbro UK offered to pay 10 percent more than.Mattd Inc. s 
bid far J.W. &car & Sons FLG, a British company with the rights 
to sen Scrabble outside North America. 

Hasbro bid £11 (S16J0) a share for the 733 percent of J.W. 
Spear thai iTdotittiot already Own, valuing the takeover target at 
£57 3 TntBttm • . 


Mdhm to Buy; Unite of U+S. Bancorp 


^ wT ^t 

5* 7-26. f " 


the txmqRmies rqiorted? , 
Under the ameematf, N 
than 50 wholesale and xetail 


.r&lt/bjBot i Bank Corp. will 
^mul origmatkm and serviemg 
Go. for about S75 nriUxm, 


Mellon Mortgage will purchase mare 
fl. loan origination offices in 10 states in 


Market Sales 


NYSE 

AlTMX 

Nosdoa 

In ml mans. 


Today Prey. 

4:9* coos. 
23352 318411 
1123 16373 
23770 268576 


Aluminum. 

CoHm, Brax, lb 
Cmptf oie U i u lyllc. ft 
Iren FOB. ton 
Load ib 
Sliver, trov at 
steel (scnml.ftm 
Tin, lb 
ZktcR) 


0473 Industrials 

I ji HM Low Lost Some Otoe 

21350 GASOIL UPE) 

056 U5. Mian per metric toe-lets «MN Ibm 
554 JM 14*55 14750 147J3 14750 —840 

12X00 AW 13240 151.00 15150 15150 UncK 

34368 Sep 15575 15450 15400 15450 — 825 

04631 OCt 15775 15740 15740 15740 +040 


For investment 
i nf ormation 

Read. 

the MONEY REPORT 
every Saturday 
in the I HI 


also wjtonr$3u&haKaa of U.& Bancorp Mortgage's $43 biDian 
nsdeorisdWa'senricmg portfolio.. 


rewtkntiidfoan'scrYkahg portfolio.. 

Fwtfae^ifecG«t 


1S775 15740 15740 15740 +040 


f Akot AhaahAn Ltd. Mthotmcedan ureoaMrit Friday to sdl 
its bn5idmg r pa?oducts dmsMgy tp Gcnstar Capital Com, a Toronto 
holding company- . (Xjtigfit-Kiddtr} 

in 

dfanhmtmg about ljOTQ jbbs- - . (Bioonlberg) 


BONDS: G-7 officials Stand Pat Spain Strikes a Deal wilh YW fi^re SEAT 

OfflttattdtaateJ “Tr» eov tliat thoTwwul morlro* . M. . -i - - - .. -- . -• 


CMley, internation- 
al econ omis t at DRI/McGraw 
HHL “The higher our long bond 
rates go, the more attractive the 
dollar wfll become,” be said. 

“Traders may be dollar bears 
today, but at some paint people 
wfll see they can earn 8 percent 
on their dollars, and somebody 
wfll make a decision to go the 
other way. Maybe the catalyst 
will be a political change in Ja- 
pan-” 


B*s oss§ Is 
in Great Britafai 
joriaihUto 

0 800 89 5965 


Gxrihmed from Page 9 
of good news to hold onto their 
bonds wndi less soak up new 
issues. 

When the new year brought 
bad news in the form of in- 
creases by the Federal Reserve 
Board in U.S. short-term inter- 
est rates, investors dumped 
their bonds, particularly UjS. 
Treasury's. Caught in the slip- 
stream was not just the dollar 
but foreign bonds and even eq- 
uities. 


“To say that the bond market 
has been responding to infla- 
tion fears is a bit of an after-the- 
fact rationalization,” Mr. James 
said. 


Stephen Waite, duel Europe- 
an economist for Merrill Lynch 
in London, said that while most 
economists have steadily up- 
graded their forecasts for eco- 
nomic growth in recent weeks, 
they have actually downgraded 
their projections far inflation. 


The Associated Pros 

MADRID — The Industry Ministry 
said Friday that it had reached an agree- 
ment with Volkswagen AG to save tee 


ish subsidiary, SEAT, from a shutdown 
in return for state aid. 

■ -An agreement will be signed Monday 
by tee Spanish government, Volkswagen 
and the regional government where 
SEATs two factories arc located, a min- 


istry spokesman said. He would not pro- 
vide details of thc aid padkue:- 
Spanish national radio raid the agree- 
ment would include aid of 38 biLEon 
pesetas ($292 jn2Kan)u 
Volkswagen officials suggested last 
winter th&t they migh t step prodming 
new models at ^AT-andeyentnaity^)-^, 
sorb the Spanish plants into tee parent 
company unless aid. was forthcoming. 
After SEAT reported a 1993 loss of 


$640+'«nffiiaB^ Volkswagen announced 


: pbuK tohQ?pqffSt0O§ c# 22,400 eaploy- 
ces over teenexttlnee years and dose its 
' ZeOa Franca foctosy in Barcelona. 

‘ SEATs troahies are perhaps tee most 
p^icaSbr semitive of teose at tee maity 
large coinpairics tluit ha ve been hit tty 

coafitiou 


o avoid job 




WORLD STOCK 


77TTTT+- 


U.S. FUTURES 


ton Sraon- 
xoti Low 


Ooen Mod Low Cta» Chp QuJnr 


Swann SmmoM 
HOI Low 


Aganoa lime* Pmw inly 8 


Via Awoaotad Praia 


Season Saamn 
Htol Low 


4SOOGIW. 1139. T1A5 IL23 
9.T7MV95 TL22 UJ5 1)50 


Amsterdam 


ABN Amro HM 59 JO 58*0 
ACF Hotdlna 4330 4330 


AtaaM 

AkzoNobd 

AMEV 


93.10 9430 
43 4340 
Akzo Nobel T9340 1*330 
AMEV 6940 38 

Bato-WBSsonaii 37.90 3740 
CSM 6830 6830 

DSM 13130 131 

Ebtrrier 152 IE ® 

Pafeker 1538 15 

GbMSrooodes 4540 4S40 
HBG 3t® 389 

Halneken 21438 213 

Hoooovans 70 7ijo 

Hunter Dowlas 7640 77 JO 

I HC Catena 

inter Mueller 


*2740 947 
6&44066030 
28728840 
303 305 

51450340 
331^33040 
46740462.10 
473 472 

*52 *55 


PUORS 

Forte 

GEC 

GenlAcc 

Gian 

Grand Mel 

GRE 

Gulnm u B 

GUS 


122 232 

171 7J4 




Helsinki 


3550 36 

7730 7730 


Inn Nederland 76.10 75*0 


KLM 

KNPBT 

KPN 

Ncdknrd 

OceGrtnten 

Pdchoad 

PhIBos 


Robaco 

Rodamco 

Rodnoo 


5150 52.10 
4130 41W 
4848 49 

6330 64 

7M 7640 
4830 4740 
5040 50JSB 
7540 7640 
11380 11330 
54 5430 
11830 11540 
8480 8540 
18930 1*610 


AmwMrtityma 12S 124 

Enso-Gutzett 41 41 

Hutdomokl 168 167 

KCLP. TOSS 1080 

Kyimitane 122 123 

Metre 166 188 

Nokia 475 488 

Pohlota 65 77 

RtetelO 8940 89 JO 

Stockmann 220 225 


HUtadown 
HSBC HUBS 
ICI 

Inriteape 

Kteoflsher 

Ladbroke 

Land Sec 

Loparte 

Lranta 

Legal Gen Gro 
Lknrds Bank 
Marks SP 
ME PC 
Natl Power 
NatWest 
NlfiWsl Water 


532 562 

447 447 

1J4 13* 

Am 439 

5-53 543 

2X7 2X3 

1A4 146 

6M 642 
7A5 730 

435 433 


Dominion Text A 
Donohue A 
MacMillan Bl 
Natl Bk Canada 
Power Corn. 

8S2SJ-A 

OwebccorB 


Llntva 
, VWeatren 




6 M 
1146 11V1 
1716 171A 
Sth Bth 
20 1M 
1W I** 
NjQ. 17*4 
171* 17*1 
NjQ. UR* 
NA — 
ITVfc TWi 
; 175342 


BMjtiA 
HoncM sbanken 
Investor B 
Norsk Hydro 
Procardia AF 
Sandvlk B 
SCAnA 
S-E Bonkan 
Sfeam&a F 

SKF 

Stora 

TreUebarvBF 

Volvo 


147 
646 646 

733 7 JO 
134 133 

437 <32 

533 539 

4JB <03 
44* AM 
<32 <30 

<35 <33 

<82 <85 


Atamaalta; 
Pravtow :i73X5f 


ns no 

W3 98 
165 161 
21*21*48 
117 114 

it® me 

105 MB 
4730 45150 
115 112 

144 143 

134 135 

371 371 

*9 9*JB 
30038X70 
175844 


Open KBh Low Ctosa do CWM 


1246 . 1057 May *S 1L20 . 1133 1UB 

1120 1047 AS 95 TL15 HJ7 11 JO 

1140 . 1057 Od ra HJQ7 1LM 18*5 

1140 U8BMcr«6 1137 11X0 1U7 

Esc. sato K051 mu's, soles 36361 .. 
Hofsopan W t bmio us 2*ro - 
COCOA WTO anMto-twkP 


Toronto 


AWflW Price 
Agrdcu Eagle 
Air Canada 


Grains 


Alberta Enerav 
Am Barrldc Res 
BCE 

Bk Nam Scotia 
DC Gas 
Bt Telecom 
Bramatea 
Brtmswlck 
CAE 
Cmdov 
CISC 

Canadian Paclflc 
Con Tire A 
Cartlar 
Cm 

CCL Ind B 


AtiUauMe 
Alcatel Atsthom 




Royal Dutch 189 JB 1*0.10 
Stark 44 4CX» 

Unilever 18430 18168 

Von Onttnanm 4848 4840 
VNU 17030 170JD 

WWtars/Kluwar 10730 10030 

tSSSSfiSSP 


Brussels 


AG Fin 
Almond 
Art»d 
Oarco 
BBL 
Bekaert 
CBR 
CMB 
CNP 
Codcwlti 
Cobcpa 

CMnnrt 
Domain 
Eloctrabof 
Elrct r al lnu 
GIB 
GBL 
Gevaert 

Ghnorbal 4608 4SD 

Immobel 2915 3000 

KretMfbanfc 65*0 6S08 

Mosane 1460 1478 

RPctJcri 480 478 

Rwale Betue 5220 5160 

SocOenBanqua 8200 8210 

5oc G«1 Belgique 2200 2210 

Satina ”” 

SOlVCY 

Tasscmlerta mg yaze 

Tractabal 7*50 10025 

UCB ZXSO 23S75 

Unton/MMere 2410 2545 

Wagons Uts 7110 7010 


Hong Kong 

3040 
1X10 
3030 
3740 
1030 
11.90 
5850 
3330 
42X0 
1339 
2240 


P&O 
PNMngion 
PowarGea 
Prudential 
Rank Ore 
Red tend 
Reed Inti 
Reuters 
RMC Grew 
Roils Rove* 
Roltmn (unit) 
RajgtlSCOl 

Satesfaury 
Scot Newcas 
Scot Power 


Bancaine (del 

BIC 

BNP 

BauyguM 
BSN-GD 
Carrefour 
CCF. 
cans 
Qiaraeufs 
Oments Franc 
Club Med 
EJMaultalno 
EHScmofi 
Euro Disney 
Gen. Eaux 


Sydney 


Severn Trent 
Shell 


Smith Hjsihew 
Smith KQri B 
Smith (WH) 
San Alliance 
Tata A Lyle 


Thorn EMI 
Tomkins 
TSB Group 
Unilever 
uw Biscuits 
Vodafone 
War Loan 3Mi 
Wellcome 
Whitbread 
Will lams Hd«s 
Wllllt Corrson 
P.T.30 Index ; 2 


I metal 

Lntartw Coppea 

Learand 

Lyon. Eaux 

OraaKLI 

LVJVLH. 

Motro-Hochette 

NUctwIInB 

Moulinex 

Paribas 

PecNneylnti 

Pernod- Rknnl 

P teault Print 
Rodki technknie 
Rb-PouleneA 
RsfLSL Louis 
Saint Gohaln 
LEA 

Ste Generate 
5ucc 

Tlton u a n -CSF 

Total 

UAP. 

Valeo 


Amcor 

ANZ 

BMP 

Borel 

BotsalnvUle 
CotelHttr 
Comal ca 
CRA 
CSR 

Fosters Brew 
Goodman Fhrtd 
■Cl Australia 
MaoeUan 
MIM 

Nat Aust Bank 
News Core 
Nine Network 
N Breton Hill 
PocDunlcp 
Pioneer inn 


ms * 
346 344 
1744 1748 
329 333 


OCT Resour oes 

Santos 

TUT 

Western Mining 
Westaac Banking 
WoocskJe 


<20 <17 
440 445 
HM 1730 
433 435 
1JM 140 
139 138 
1030 1030 
145 145 
282 2J2 
1044 1048 
832 8.16 
345 446 
333 330 
435 <22 
280 2J0 
US 2 
1X2 139 
3187 084 
238 231 
68* 633 
4X3 4X5 
455 440 


CoawestExpl 

CSAMBt A 

Dotascu 

DriexA 

Echo Bay Mines 


WHEAT {(ton) 6400 Im mlntmani- do— i p, 
344 1*6 Ail 94 xasto 3. MiS 348W 

1S16 3JB Sep** XT* BJBW X16U 

165 ID* Dec** 33M 33* 3J*W 

3441* 127 M»95 336*2 337W 133K 

3561* 114 16 May 95 X32 33* 130 

14HL XU AXIS XWVi XIV X17 

Dec 95 

17400 Tla/S. sales 11313 
Thu's open kit SUtd up 384 
**1*AT (KBOT) MnwnMmiifrdilnw 
iH, 1*7 .A4 9* 3391* X311* 3JSV. 

345V* 3JBrtSep*4 U U1 34 

340 XmnOCCM IBVi 13714 3J0U 

34*U 335 HaM 13* 336 334 

3X61* 3JllfiMoy95 129 3J9 3J9 

333*6 3161* All 95 XI* 331 if? 

Ed.sato NA. TIM'S. toes 8X69 
Tlw'soiienftir 3X0TI up 731 
CORN (CBOT) SM6binM>eun>-UBBcniwb 


1132 4086 6(427 

11.13 ,+046 28425 
114*. ;«0J0f UK 
run +087 xi29 
HL99 . +086 W 
TVJon +046 *1 


*4730 *0710 Am *5 rum 93X00 9X290 nn 

*U» *13W5cp9S 93230 «J3D 93260 9X070 

■4*380.^ 9M88O0C95 Man «W» *27*0 Q4» 
94390 ■ *K7MMar*6 9X930 92*30 *1730 *1780 
MJ8B 9Z760AM96 *2200 nSX 9X660 9X600 
B&sam fUL Ttoxswec wpso 
Thu's reenter lsoju up tad 


—170226123 
— 16020744* 
— M0M14M 
— M0 12X6*2 
— UOH0401 


X16 +04716 1424 

321*6 1 04616 1*,*9 
13216 +04(16 27351 
136V* +040* VO 
33016 +01«6 US 
XlBft +04116 5U 
32m +04116 2 


130*1+04116 1X99 
X28V* +tunw 154*7 
3351A+BJ0I1* 12461 
339 +043 3409 

3J* +043 106 

XI* +041 283 


1466 IIIMM 1320 1372 U*» 

S - • joJosep*4 am un vni 

IMTDecM 1366 I4J7 1351. 
158) wnMa95 1M Itil 1» 

1570 M7»Mar*5 MU MB m 

15W 1225A495 

14© 1265S«p*5 • 

ISO 12*0 Dec 95 1465 MV 14© 

15© T3SDMar*6 14K IM 1490 

Bt.Mto M4B5 ThU^L sales 5588 
Thu'sapcnH <6X« off 746 
anUUIGBJUSS JMCTM HIM, toto 
13540. 8340 Jul 96 84X5 93X1 SUO 

13450 • MJSSapM 8840 97J0 8045 

U640 tiuoiftvM nan . ssxs vjd 

13X00 9400 Jon H SiSO VIM .Si® 

134JS 9740 Mar *3 9*40 T+.» fug 

1K» *740 May *5710175 lOiH 10175 


+70 215 

*77 33813 . 
+78 1X30 
+65 7X22 
♦61 1*6* 
+SS 2410 
+5* IJBfc 
+73 <371- 
+70 7*0. 


EguitY silver A 

FCAlntl 

Fed ind a 

Fletcher Cball A 

FPI 

Gentra 

Gutt Cda Res 

Hoes Inti 

Hernia GM Mines 

HoUnger 


H u d son 's Bay 


Xlfl* U6MA0M ua 2X3 240 

2.9254 X2TV65SPM 131 23116 23016 

277 2J6 DacM X27V6 X28 2Jfl6 

242U 23416 Mar *S 236 13M Z35W 

241 141 May *5 2X1 V6 14216 24716 

2S5V5 2X4MkM*9 2X566 2X6U X45V4 

2701* 2X2»Sa>9S 2X4 2X4* 2X3V> 

ua 2351* Dec 95 2 jQ 1X4. 2X216 

Est sales 31400 Uni'S, solas 51x25 
Thu's openH 2214*2 UP 3062 
SOYBEANS (CBOT) UNbun*anam-Ugta 
7 JO 5*416 Jul M 631 631 W 67* 

U LOnAugM 622 V* 631 6729, 

74Bft 5*2»5ep*4 643W 646 642 

7-57V, 155V* Nov 94 5M 579V* 5A3V, 

744 5151* Jon *5 5*5 5*6 5*1 

745 5*1 ’il Mcr 95 *41 6Q3V, S9BV, 


2X1 W +04)1* 1X140 
231 +04066 56498 

12716+0411*121.117 
UA +04116 1X181 
2X216+0411* <657 
2X6 +oom U6 
2X6V6 +00016 315 

X4» +04046 <505 


101X0 Aits 1IQ*0 10290 102*0 
1 0540 Sap 9S 10575 1M25, -10535 


1T1JD 10540 Sap 95 10575 1S2 

Nov 95 

Est.soto NA. Hu's. solos 140 
Thu'S open W 24474 off 301 


« • •• - 

9X65 +1040 2M . 
(730 +1040 14346 
»5XS - +540 Vm 
**45 +580 X786 

10X05/ +588 2438 
T05JS +540 854 

107-25 +540 113 

w«a * 


1^*4* to»*« L5W U5W 1JJ60 T34S2 

i w* ffi 

Bitadaf wxii TTw's.sUn »fn 
Wsepreto 3X93 off- DH 
EANADIANDOLLAR PCMBO sMr*vi«Moautoi 
OtoOSepW 07190 07WB 07160 07177 
8M70 ■ ; VnOacN 07151 17151 07125 0709 
S2S452? 67100 0JHD 

&S-EES3S- Kg 

BL totes .4M5 TImVkMs 2X61 - 

TlaTtopea M • 3X7B2 re 216 - 


♦1)0 3X627 
+112 411 1 

+116 va 


■d*s 


Metals 


63116 +007 XZ73 
6751* +040 3X0*2 

6.05V* +047 11443 

548 +045V, 7<U6 
S*5V6 +41ISV6 UW 


tfxssrrs^--™* 




Madrid 


Johannesburg 

AECI 
Attach 
Anglo Amar 
Bartons 
BSymsor 




Frankfurt 


17X50 176 
364 345 


AEG 

Alcafel SEL 

Allianz HqM 

Altana 609 <11 

Aeko 1008 WOO 

BASF 30140301.10 

BOW _ 34734*30 

Bov. Hypo bank 414 412 
BayVareimbk 453 445 
BBC 73S-30 738 

BHF Bonk 

BMW 7*9 7*0 

Cammerzbank 3314033130 
Cantinmttd 2C24B 242 
Dataller Benz 72840 717 
Denussa 47480477 JO 

DlBabcnck 234J0 235 
Deutsche Bank 714 70 
Douglas *95 500 

Dretoner Bank 37830 371 
EtotimtoH* 305 305 
F Krupp Hoesctl 20*4021120 

Horee nr 335 336 

Hentol 577 580 

HoeWtoi *20 931 


De Beers 

Driefontek) 

Gencar 

GF5A 

Harmony 

Higftveld Steel 

Woof 

NedbankGre 
Randianteln 
Rusotat 
SA Brews 
SI Helena 


Western Deep 



BBV 2860 2859 i 

fico Central Hlsp. 243 wo I 
gaacoSontender 4500 4430 ; 
Banreto 888 BM 1 

CEPSA 2865 2885 

Draoados 2030 2005 1 

Endraa 5450 5390 

Crcrao 209 21B 

iberarnta 885 188 

Mjtol 3880 3755 

Tabacalara 3020 3130 

Tetetonlca 1790 1775 

General tede» -. 25X56 


To Our Readers 


Tokyo 

Akoi Sectr 515 515 

Asdll Otcmicul 743 755 

AstoiGtafiS 1210 1220 

Bank of Tokyo 1540 1568 
Bridgestone USD 1630 
Conte 1770 1760 

Casio 13a 13a 

Dal Nippon Print 1860 1» 
Dotwa House 1300 1500 
Dalwa Securities 1760 1760 
Fanuc 4790 am 

Full Bank 2260 2270 

Fuji Photo 2270 2250 

Fujitsu 1118 11» 

Hitachi raso mho 

HltadU cable *0* m 


Laban 
LobtawCo 
Mackenzie 
Maona inti A 
Maple Loaf 
Maritime 
Mark Res 
JMoteanA 
Noma Ind A 
Noramto Inc 



74M S*6V»Mov»5 644V, 64754 646 

74614 .641 JUIfS 6.13 6J3 6dOB» 

6-50 v* 541 Vi Nov *5 5*7 6i»y* 5*4 

Estsato 37400 TtU's.KtaC 3M40 
Thu'saoenlnt 14X577 up 7 
SOVMANMBAL (CBOT) HOtam.totaM 
ZSS) 18UDJUIM 11543 UUO 14540 
22340 18X20 Aug 94 184*0 18640 18450 

21040 177.20 Sep 94 1SL2S 18540 18320 

207-50 inmoctw ibojo mjo muo 

20*40 174.90 Dec *4 ITT J0 181X0 17* JO 

207 JO 175.90 Jen W 1SI40 U1JU UOlTO 

207-50 177JDMO-95 1B2J0 1KLU 1H1JW 

20740 17X40May95 1B3JD0 183*0 18UD 

20640 T79JDJUI9S 18350 11400 1OJ0 

&tsato 17.000 ThuVxato HUBS 
Thu'SDpenH 02479 off 1 
SOYBBANML (OBC ) 4UBSto-iMknBWl 
3082 2U5JNH 25.10 2LH 2476 

3X45 21X5AUDM 2540 2S.H 3473 

3X31 12JO£ap*4 2540 2103 24X0 

2SJ4 22.1 0 Oct W 2450 2450 23*5 

26X7 2240 Dec *6 23*0 21 51 2112 

2X55 2165 Jen 95 23SS 21*8 2155 

2X30 H73MV9S 3440 3(40 2158 

2X45 aiaSAtavSS 1440 3445 2140 

2745 ZU5JMT5 3405 2441 2340 

27X0 2Z4SAU09S 217S 2375 2373 

2475 TLWSepW 2155 2175 Z3J5 

Ectsato 23400 Diu's.KSes 1X16* 
TlarttoWIto 90733 w nw 


Moreen Enemy 

N IT— i Tala com 

Nora Core 


PoBUrtn A 
Ptarer Oome 
Paco Petroleum 
PWACBre 
Rayrock 


Stock prices for 
Sao Paulo were not 
available Friday be- 
cause of problems at 
tee source. 


2260 2270 
2270 2250 
1118 111S 
ICED MOT 
90* *13 
1760 7750 

lla Yakodo sao smo 

Itochu 728 721 

Japan Airlines 71* 717 

Kalima 771 *0 

Kansai Power rm: mm 
K°yo g*l Stee l Jg 411 

Klrln Brewe r y 1220 1230 
Komatsu 924 932 

Kubolo 7^ 723 

Kyacara 7390 7400 

MBtsu Elec Inds Tffio 1830 
Matsu EJecWte 1130 1120 
MitsubtaM Bk 2680 3100 
Mitsubishi Karel 515 515 

toibubbh) Elec «4 4*2 
Mitsubishi Hev 880 810 

Mitsubishi Care 11 «> 11*0 
Mitsui and Co 828 m. 

MHsukashl 1079 1W 

Mitsumi 1860 1870 

NEC 1230 1270 

NGK Insulators 1040 1050 
Nlkfeo Securities 1330 1350 
Nippon Konakii 1870 1100 
Nippon OH 740 740 
Nippon Steel 342 344 
Ntooon YaSM 431 636 

Nissan 831 840 

Nomura Sec 200 zno 
NtT B^a 8410a 

Qjyinpus Opticet 1W ij ^ 

ScuhT ™ *51 

Sanya EMC 568 57? 
Sim 1940 i860 

SMmaai 740 745 

SMnetsu dim 3110 21» 
Sony 6030 6080 

SumftomoBk 2B5D 3060 
SamitamaOieni 515 505 
SwnlMirtne *U *11; 
Sumitomo MeM 2*3 Vt} 
TafsalCore 671 <75 

Tobno Marine 800 MS, 
Tatodaawm 1300 1190; 
TDK 4720 4760; 

TdPfl 557 582 

Tokyo Marino 12» 1230 
Tokyo Elec Pw 3080 3100 
ToapanPiwine 14» MTtJ 
Tawind. 760 757 

Toshiba 10* B13 

Toyota 2210 2190 

Younlctd See *32 *94 
a; k W 0 . 


Ropers B 
Rothmans 
Royal Book Coa 



Singapore 


8KSg?»S3 :: 


London 


Abbey NatT 1*6 

AHM Lyons 5X8 


SfSMS ss 


Hottmam 

Hwten 21521450 

IWKA 372 373 

Kan Sab 142 138 

Kar^adt 573 

Kauthof 4*050 

KlIO MS 

JCtoKtow <Nerto15M015UQ 
Unde 896 898 

Uifthansa 18S50 116 

MAN 4 kirn 422 

Mcretesmotm 
Metallgesen 

Muwtch Ruecfc 2930 2920 

goreehe BIB 783 

PreuSBag 43*5043X70 

EJKS 35 is? 

RWE 434 416 

Rnetemetall 310 307 


An Brit Foods 120 

BAA 7J2 

BAo 651 

BankSafland 1J8 

Barclays 5J1 

Baa 5.18 

BAT 3*8 

BET 146 

Blue arete in 

BOC Group 7JB 

Boots i 42 

Bawoter <31 

BP . 356 

Brit Airways <18 

Bril Gas 2.71 

Brti Steel 1X6 

Brit Telecom Uc 

BTR j*7 

COMa Wire <05 

Cadbury Sch <20 

Cannon 122 

Coots v lye! la 2X0 

Comm Union 5*3 

CmnauHs <m 


Chao 

CIR 

creditol 

Enlriiem 

Ferilfl 

SSSA* 

FUmtecconlca 

(towrall 

!« 

Itabnqbnkn 


Montedbon 

OHvettl 

Ptnrill 

RAS 


Seteetn 

5ot Paolo Torino 

SIP 

SUAE 

Sola 

Staeda 

SIM 

Tore Assl RtJP 


Cerebas 
cm- Dev. 

DBS 

Fraser Neave 
Geatino 
Gowen Hope PI 
Haw Par 


7*5 7*0 
6J5 5*3 

1080 10*0 
1580 1£7D 

1760 17 JO 
2X2 233 
104 3A2 


; Hume Industries SJQ S.15 1 


Inchcape 
K8PP0I 
KLKeeang 
Lum Chang 

sar 

CHIB 

DUE 

Sembawang 

Sbaasrila 

SHne Darby 

siAteretoti 

TDortLand 

rparePra 

Swosteamslilp 


5JH SJSS 
1050 1DL40 
3X8 134 
1X4 1X2 
X13 US 

nxo axe 
580 580 
X2D BJS 

1050 nun 
493 4*1 
384 3JB 
1JI0 15 
7*0 7JC 
1550 UXC 
254 X4t 


l« 8 M 8 S?iAr 


Stag Stearratilp 254 lit 

SYareTeieoareni 3*4 3*4 

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** 


INTERNATIONAL HERALD TRIBUNE, SATURPAY-SUNPAY, JULY 9-10, 1994 


Page 11 


Telekom Sale 


’ " 3 . 


- . 

a " • % 
r. . - L- * 


In Germany 


Wins Approval 


Roam 


5 


BONN Approval by the Bundesral . 

“PP* WM the finalhnrdle tor the 
extensive pack- measures; many of which had 


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tense, 

ss&SS 2 

Chanc ellor Hdnmi Kohl’s 
government, which faces deo- 
ttons in October, hailed the ac- 
tion as a success in its efforts to 
remove some of the rigidity 
from the country’s economy. 


tl>e Trnr>- . 

lister, said the insider trading 
ban, new rules on disclosure cJ 
information that could affect 
share prices and the establish- 
ment of a securities watchdog 
marked the start of a new era. 

The finandal markets laws 
make insider trading punishable 


' ;« V-; ■ 

li.. r * 




Mannesman Posts 
2drPeriod Profit 
As Sales Recover 


Complied by Owr Staff Emm Dispatches ' 

DUSSELDORF — Mannes- 
mann AG said Friday that riming 
sales helped it return to profit in 
the second quarter, but it failed 
to break even for the first half. 

The company's shares fell af- 
ter the figures were announced, 
finishing at 407 Deutsche 
marks ($258), down from 
41ZJ20 Thursday. Traders said 
some investors were disap- 
pointed that Mannesmann 
didn’t have a first-half p ro fi t, 
and analysts said forecasts for 
1994 could be cut if continued 
dollar weakness hits exports as 
the company warned it might 
First-half sales were 10 per- 
cent higher than a year earner, 
at 14J trillion DM, while new 
orders rose 19 percent, to 16.8 
billion DM. The company did 
not disclose 
In 1993, Mannesmann had a 
net loss of 513 million DM, re- 


hy as much as five years in pris- 
on- Mr. Waigd said the mea- 
sures would makeGennan mar- 
kets more open and transparent. 

“The confidence of domestic 
and foreign investors in how 
business is -done is of consider- 
able importance for the attrac- 
tiveness of a center," 

Mr. Waigel said. “A new era is 


versing a^profit in 1992 of 63 


million D1 

The company's shareholders 
elected Werner Dieter, who 
stepped down as chaumanTri- 
day, to the supervisory board 
despite investigations against 
him <m suspicion of fraud. 

“Our result has improved 
considerably against the same 
period of the previous year, but 
because of the weak sales in the 
months of January and Febru- 
ary it remained sfightly nega- 
tive,” Mr. Dieter -said. 


The Bundesral also cleared 
the way for the privatization of 
Deutsche Telekom, which will 
be fisted on stock markets start- 
in 1996. ; 

Bundesrat, which is con- 
trolled by the opposition Social 
Democratic Party, approved 
the conversion of the threedivi- 
sidns of the post office — Tele- 
kom, Postdknst and Postbank 
—into joint stock companies as 
of Jan. 1,1995. 

A first tranche of Telekom 
shares, valued at as much as 20 
billion Deutsche marks ($13 
billion), will be floated on stock 
markets in early 1996. 

.Another item approved by 
the Bundesrat is a 
rrvate companies, to bull 
fees for 

using them. 

■ Consumer Prices Edge Up 

Government statistics 
showed consumer prices in Ger- 
many rose 0.2 percent in June, 
m»Wng a year-oo-year inflation 
rate of 3.0 percent, Agence 
France-Pressc reported from 
Wiesbaden. 

The increase was slightly 
higher than the govenunenfs 
estimate of 0.1 percent for the 
month and 29 percent for the 
year, which was based on price 
movements in four major re- 
gions. 


An Offer They’d Like to Refuse 


Foreign Firms in Moscow Feel Pressure From Mafia 


- By .Michael Specter 

■ New York Timet Service 

MOSCOW — After years in which the 
hydra-headed Russian mafia has openly 
penetrated virtually every level of local 
busihess,"f6rcign^ companies Operating 
here.— big CTnaTT l famous «Tid un- 
known —have begun to fed increasing 
pressure from criminal organizations. 

The companies’ situation is nothing 
like it is for Russians, for whom threats, 
intimidation extortion and violence have 
becomeroutinc. But thugs from Moscow 
gangs and more polished representatives 
from the mafia — as Russians call their 
criminal organizations — have increas- 
ingly turned then: attention to American 
businesses in the last few months. 

. U.S. diplomats report a rise — to more 
tb«n a dozen this year from two in all of 
last year — in the number of companies 
acknowledging visits from gangs that 
seek to protect them. 

ha perhaps the most alarming recent 
madebt, gangsters paid a call on the 
Moscow office of (he U.S. Chamber of 
Commerce, demanding the list of all 
companies that are members, their ad- 
dresses and their phone numbers. Offi- 
cials refused the request, according to 
three chamber members who, like almost 
everyone else interviewed on the subject, 
demanded anonymity. 

“I still consider it safe for Westerners to 
work here, and I encourage them to do so 
all the time,” said Richard A Conn Jr r a 
lawyer with T-atham & Watkins, which 
represents several international corpora- 
tions doing business in Russia. “But the 


tive of any American company is known 
to have been killed by the mob, although 
such killing s occur almost weekly among 
Russian businessmen, especially bankers. 

The days are over, however, when U.S. 
companies could afford to neglect what 
the Interior Ministry says are more than 
5,000 gangs operating here, or when 
Americans could permit their Russian 
partners to silently and secretly handle 
issues such as crime and payoffs. 

“We hired the bad guys m white hats 
to protect os from the bad guys in blade 


The growth of the mob 
has been dramatic, and 
there just isn’t a pass for 
American businesses from 
the mafia anymore.’ 

Richard A. Conn Jr., 

U.S. lawyer 


i just isn’t a pass for American busi- 
nesses from the mafia anymore.” 

Mr. fVwm and most others said official 
corruption, an irrational tax system and a 
mistrust qf profit still hurt American bnsir 
nesses in Russia far more than crime does. 

The executives say that no representa- 


hats,” said Bruce Macdonald, director 
general of BBDO Marketing in Moscow, 
m explaining the presence at his advertis- 
ing agency of two Russians in camou- 
flage outfits aimed with pump shotguns. 

It has been impossible to gauge the 
level of crime carried out against foreign 
companies, because Russian partners in- 
variably take care of dealing with other 
Russians. 

“In general, people don’t want to 
know what they don’t have to know,” 
said Jeffrey M. Zeiger, whose Tren-Mos 
Bistro was the first American restaurant 
to open in Moscow. His Russian partner 
was gunned down in his garage last year, 
and even today Mr. Zeiger swears he 
never heard a word about payoffs or a 
hut of a problem before his partner died. 

Hotels and restaurants — the visible 


businesses with the obvious cash supply 
— are usually the first targets. Although 
they denied it, several of America’s most 
famous corporations have also been ap- 
proached, according to U.S. law enforce- 
ment officials. 

“The ones who come to us are almost 
always small businessmen,’’ said an 
American who insisted on being identi- 
fied only as an embassy official. “Does 
that mean that McDonald’s isn’t both- 
ered or that Coke has no problems? Not 
necessarily. But if they do, we don’t 
know about it” 

McDonald’s Carp, says it has no prob- 
lems with gangsters in Moscow. 

“It would take a fairly aggressive and 
sophisticated group to bother McDon- 
ald's,” said Sergei Bogdonov, a spokes- 
man for the organized-crime division of 
the Federal Counterintelligence Service, 
previously the KGB. 

Many of the criminal gang * started in 
the Soviet labor camps, to which some 
prisoners were sent for commuting (he 
sin of seeking profit When suddenly 
communism was bad and profits were 
good, criminals were often the only Rus- 
sians who knew what to do. 

Many companies that contend they 
have had no problem with crime should 
look more closely at their rent Russian 
police officials say, because payoffs to 
mobsters may be hidden in the $8,000 to 
$10,000 a month that it often costs to 
rent a decent office. 

“To me, acting surprised that people 
in this type of environment are seeking to 
take your money illegally is like showing 
surprise that the sun came up this morn- 
ing,” said John K. Bailey, managing di- 
rector of Johnson & Johnson in Russia. 
“This is a difficult working environment. 
It seems stupid to have to keep repeating 
it, but the greatest rewards are usually 
not far from the greatest risks.” 


SS ! U.K. Insider-Trade Inquiry Cites Archer 

cn.ni: .. usms them. M. w 


By Richard W. Stevenson 

New York Times Sendee 


LONDON — As Jeffrey Ar- 
cher, he is the author of best- 
selling pulp novels such as 
“Kane and Abel,” “First 
Among Equals” and “Honor 
Among Thieves.” As Lord Ar- 
cher, he is dose friend to Prime 
Minister John Major and tire- 
less campaigner for Britain’s 
governing Conservative Party. 

But he is no stranger to con- 
troversy in either guise, and 


now, just as he seemed set to 
take a more prominent role in 
politics here, Mr. Archer is un- 
der investigation by British au- 
thorities fm* inrider trading. 

The Department of 'Dade 
and Industry said late Thursday 
that it was investigating Mr. Ar- 
cher for possible criminal insid- 
er trading violations r elating to 
a $450 milli on takeover bid in 
January for Anglia Televirion 
Group PLC, a British broad- 
casting company, by MAI PLC, 
a London-based conglomerate. 


NYSE 


the closing on Wall Street and 
late trades enewhere. 


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Mr. Archer’s wife, Mary, was 
cm the board of Anglia, which 
later agreed to the merger. 

In a brief interview with The 
Times of London, Mr. Archer, 
who is 54 and one of Britain's 
wealthiest men, said that he had 
not done anything wrong. 

“It is completely untrue,” be 
said, “1 did not buy any shares. 
1 am not going to make a state- 
ment That sort of accusation is 
libelous. ~ 

Neither Angfia, which also 
confir med that there was an in- 
vestigation, nor the Department 
of Trade and Indnsny provided 
any details of the case. The 
Tunes reported that the inquiry 
had been set off when a stock- 
broker reported possible irregu- 
larities to the London Stock Ex- 
change shortly after the bid was 
announced on Jan. 18. The slock 
exchange's inrider trading unit 
then submitted a report to the 
Department cf Trade and In- 
dustry for farther investigation, 
the newspaper said. 

Mr. Archer was elected to Par- 
liament at age 29, but resigned 
his seat five years later, in 1974, 


after a business deal went sour, 
leaving him nearly penniless. 
Seeking a way to rebuild his for- 
tune, he wrote his first novel, 
“Not a Penny More, Not a Pen- 
ny Less.” The book sold well, as 
did those that have followed. 


ADVERTISEMENT 


MNtmsiramcsco.im 

(COR.) 


Tbr Dndercieaed ■nnouocrf ihai «* from 
J»ly 15, 1994 «i 


Ku-AuociaUr N.V, 
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rejnT ISO aba usd with (Mb. 153^00 


per COB, repr. 1,000 dm per 
dale 3lJ03-94« trait Yen IDr p> *"J *fl»r 


trait Yen IDf p. 

deduction or IS* Japanese tax ■ Yen 
ISC,— — Dili. 2,71 per CDB rept 100 dm 
Yen 1SO0,- — Ofi 2Z10 per CDB repe. 
14W0 sht~ Withoul an Affidavil 20 ^ 
Juancsc tax - Yen 200,— ■= DfU. X61 per 
CDS repr. 100 aha. Yen Z000-— = Oik 
36,10 per CDR repr. UNO aha trill be 
deducted. After 3&09-94 the dividend wiO 
only be paid under deduction or Mb Jap. 
tax wilhDria. 14,40; DfU. 144JI0 repr. 
reap. 100 and tjDOO ihs_ in accordance 
with the Japanese tax regulation*. 


AMSTERDAM DEPOSITARY 
COMPANY' N.V.’ 
Amsterdam, 5 July 1994 


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local phone companies and calling card plans. Call 
from home, office or hotels and avoid surcharges. 
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Tw-i: 


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iiisiF; -- 1 Stock tnder-7'; ; - :: 




















Lfosteo-';- 











Sources; flevfsrs, AFP 


InKraukual Herald Tribune 


Very briefly: 


• Hoedst AG of Germany said it would merge its European fiber 
activities and spin them off into a separate unit OcL 1, to be 
named Hoechst Trevira GmbH. 


• European Union new car sales rose 11.3 percent in June from a 
year eaiiier, the second consecutive strong rise, the European 
carmakers’ association said. 


• Bertelsmann AG expects net profit in the year to June to be 
“clearly higher than last year” because of tax benefits, while sales 
rise 6 pet to 18 billion Deutsche marks ($1 1 billion). 

• Body Shop International PLC founders Anita and Gordon 
Roddick have sold nearly 2 percent of their equity stake in the 
cosmetics retailer to fund charitable and personal commitments. 


• Fisons PLC, the British healthcare group, said it Had appoi 
Stuart Wallis, to be its chief executive officer, effective Sept. 1. 

• Estonia will open up its stock market in August when it allows 
vouchers, which could have been used to buy land or property, to 
be swapped for shares. 

• Swedish insurer Skandia FfirsfikringAB has sold itsportfolio of 
D anish consumer loans to General Electric Capital Corp* of the 
UJL, effective Aug. 1; the price wasn’t disclosed 


• Daily Ma3 and General Trust PLC and European Mafia Asso- 
ciates Ltd. said they had increased their joint stake in ChOtern 
Radio to 29.99 percent, just below the 30 percent level that 
automatically triggers a takeover bid. afp. afx. Bloomberg Reuters 


ADVERTISEMENT 


CASIO COMPILER CO., UR. 

(CO lb) 


The indenimd announce* dial a* from 
July IS, 1934 ui Ku-Aaiocialic N.V, 
Amsterdam, dh out. ao. S4 (aceom- 


Amttcrdom. dK cn. w. M (accom- 
panied by an “Affidavit") of tbe CDRj* 
Canto Computer Co» LidL win be Miy- 
able wUb DO*. 19411 p«r CDR, eejm 


100 aba and wUb 


1 per 
DO*. 


190,10 


,iv per 

CDR, repr. 1,000 As (dir. per rce-dale 


31413.94: pros* Yen liS p. sh.) after 
deduction of 1541 Japanese tax ■ Yen 
lStSO — Dfl*. 137 per CDR repa 100 <ha. 
Yen 1.875.- = Dili. 33.70 per CDR repn 

1.000 aha. Whhoul an Affidavit 30 « 
Japancae lax — Yen 250.— H Dfia. 450per 
CDR repn 100 aha. Yen 2S00.- - Dfl*. 

45.00 per CDR repr. 1,000 *h* will be 
deducted. Afier JOWM the dividend wifi 
only be paid under deduction of JW Jap. 


lax Kith DfU. I7J58 Dfl*. 17U0 repnre&p- 


100 and 14X10 du. in accordance with 
Japanese lax regu l a t io n* . 


AMSTERDAM DEPOS11AKY 
COMPANY N.V. 
Amsterdam, 5 July 1994 


ADVERTISEMENT 


KANEKA CORPORATION 

(CP lb) 


The u ndcideued announce* that aa from 
July IS, 1994 at 


Km-AmodaUe KV, 
div. cm. no. 51 (aceam- 
u. “Affidaiil") of the CDR* 


Amsterdam, dh. 

panied by at. "AJ 

Kaaeku' CorporuUou (KancgaftacM 
Chemical hdadrim Co, lid.) wtU be 
payable with DO* 5.12 per CDB, 
repr. 100 aha nnd with Dfl*. SL^tO per 
CDR, tepiv L4M0 shs (dh* per ice-dale 
3UI3.94; gram Yen 3S0 p. ahj after 
deduction of 15b Japanese tax — Yen 
5250 - Dfl*. OJM per CDR repr. 100 aha. 


Yen SSSt- » Dili 9,40 ^CDR repn 


1400 ils, Without on 


20 4t 


Japanese 
CDR ret 


lax ■ Yen 701— — Dll*. 1^6 per 
- Dfl*. 


R repe 100 *h&. Yen 700.— 

12^0 per CDB repr. I4XW *h* win be 
deducted. Alter 34X09.94 the dividend will 
only be pmd under deduction or 20b Jap. 
lax ' with Dfl*. 4JB0: Dll*. 4&D0 repr- reap. 
100 and 1,000 *fa*„ in accordance with lire 
Japanese lax rcgidatioii*. 

AMSTERDAM DEPOSITARY 
COMPANY N.V. 
Amsterdam. 5 July 1994 


International 

Classified 

Marketplace 


Monday 

International Conferences and Seminars 


Tuesday 

Education Directory 
Wednesday 

Business Message Center 

• Thursday 

international Recruitment 
•Friday 

Real Estate Marketplace, Holidays and Travel 

• Saturday 

Arts and Antiques 


Plus over 300 headings in International Classified 
Monday through Saturday 
For further information, contact Philip Oma in Paris: 
Tel: (33-1) 46 37 94 74 - Fax: (33-1) 46 37 52 12 


JV PfTBKWJHIKALSJpjl •# 

licralo^^enbunc. 


CURRENCY AND CAPITAL M \1!K! I SERMCES 


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INTERNATIONAL 


TRIBUNE, SATURBAY-SUNmY. JUty 9-10,1994 


NASDAQ 


KOhLow sleek Dlv Yld PE 100& rteh LowLldestOi'ee 


Friday's 4 pjiu 

This list compiled by the AP. consists of the 1,000 ]$£,§'* 

most traded securrt&e in terms of dollar value. H is ™ t 9m 

updated twice a year. J$5 

ran sow 
so u 

41*21* 
21 IS* 

11 Mann Sis I }*'* 

Kail Law Slack Dfu ym P6 loot Hah LowLatadOi'a* | !i»_ ■” 

9* 





II Monti 
Hah Low Slack 


Dtu YM PC. l«h Mob Low Lotos! CtTao 






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28* 29* *W 



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_ 471 

1JD 10 296 
3.1-68 
_ _ 30 

_ - 1224 

- - 140 
_ 38 535 

- 136 7 09 


J M 77 

- IS 511 

- 36 2162 

- 24 1772 

- — - 868 
23B 1246 

14 20 236 
44 19 929 

— 16 2084 

- 2621888 

— 42 12 

’4358 


.08* A 15 27 

140 2,2 37 5315 


Wm 


Wria 


$ 


AO 

14 


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M 

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13 

J2 

5 

-24 

14 


17JT. 


Friday’s Closing 

Tables include the nationwide prices up to 
the closing on Wall Street and do not reflect 
late trades elsewhere. Via The Associated Prnss 


12 Mcrth 

H>B»1 Low Slock 


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


Page IS 


ASIA/PACIFIC 



Upbeat Report on 
Jap 


>an’s 



Realm 

TOKYO— h 

mate's said Friday that they 
were cautiously optimistic that 
the economy would pull out of 
its three-year recession this 
year. 

The government’s Economic 
Hanning Agency will 'maintain 
its view that the economy is stiH 
stagnant in a monthly report 
scheduled for release next Fri- 
day, but it will also stress that 

Knvhl ennto 



ness foe the last mo nth, and we 
canpoint that out.” - 
- The heal wave that Mt many 
pans erf Japan this week is good 
news for oieweries, consumer 
electronics and the leisure in- 
dustry. and income tax cuts are 
hkely to prompt households to 
boost spending on durable 
goods, an official said. 

■ The agency will say in its re- 
port that the rise in the value of 
' the yea could slow the recovery , 
officials said. 


1 stop saying 

the economy is stagnant and 
going through an adjustment 
phase until capital investment 
and corporate profits start to 
pick up," the official said. 
“However, the economic di- 
mate has increased its bright- 


The yen’s rise in the past 
ijap- 


Police in Tokyo 
Raid NFF Offices 
In Bribery Case 


Kmght-RuUcr 

TOKYO — Police searched 
the headquarters of Nippon 
Telegraph & Telephone Carp, 
and more than 10 other loca- 
tions Friday after the arrest of 
an NTT executive accused of 
accepting a bribe, Kyodo news 
agency reported. 

Tasaki Takay ama, 53. a sec- 
tion chief for NTT’s Toholcu 
branch in Sendai, allegedly re- 
ceived 20 million yen 
($202,000) from a Tokyo res- 
taurateur in return for helping 
him win a contract for a restau- 
rant .in . the NTT Makuhari 
Building in Quba. 

Masato Hamada, 41, who 
was also arrested Thursday 
night, allegedly gave Mr. Ta- 
kayama the money in 20 instru- 
ments starting in 199 1. 

Mr. Takayama took out a 
loan from a Tokyo tank in 1987 
to invest 50 million yen in NTT: 
shares as part of a campaign to 
get employees to invest in the 
company, police said. Police 
said h e suff ered major losses 
when NTT’s stock pnee fefl. 
Investigators said Air. Ta- 


week or so wiH not prompt 
anese companies to cut produc- 
tion for the next couple of 
months, but it could immedi- 
ately cut their doIlar-denonH- 
nated income, another agency 
official said. 

“It is still not dear whether 
the Ugh yen wiB dampen busi- 
ness and consumer confidence, 
and if so how much,” he said. 

Government and central 
bank officials, said they ..were 
not too concerned about the 
yen. “Japanese cod^ames have 
adapted to the changnig situa- 
tions whenever the. yen 
strengthened against the dol- 
lar” one government policy- 
maker sauL 

A high yen aits the dollar 
incomes of exporto* and makes 
Japanese goods more expensive 
overseas, but it also helps hold 
down prices in Japan for items 
such as energy, caps and food. 

The introduction of discount 
shops in Japan and efforts to 
.cut ont layers. of middlemen in 
the retaiEng industry also have 
helped push dawn prices of kri- 
ported and other goods.. 

V Japon-Grina AntoTalk^ 

Japan «nri Chma-euded five 
days of talks on cooperation in 
the automobile industry by say- 
ing- ttegroundworichad been 
hud/for an expansion of rela- 
tions, Reuters repriartedl 

The Japan Auto Parts Indus- 
tries Association said the two 
nations bad agreed that many 
fTrinexe and Japanese^ comp*- 
n ies harf a strong desire to un- 


dertake joint production. 
EBlosuii 


kayama apparently had ar- 
the restate 


ranged for the restancanl con- 
tract before -he moved to 
Sendai. 


Suemasa, senior ana- 
lyst at Research Insti- 

tute, said China’s recently an- 
nounced poScy on investment 
/ inkaannraofrwe industry was 
,.p^jp.acpekai^te interKt cm 
-depart frf Japanese abd otlj£r 

f CfO^i canaricers. r ' 


Yen Raises China’s Costs 

Firms Consider Switching Suppliers 


• Reuters 

. SHANGHAI — Chinese manufacturers, 
scrambling to cope whh a soaring yen that has 
raised prices of Japanese goods, are cutting 
costs and considering switching suppliers. 

Companies that buy parts and raw materi- 
als from Japan, inclu ding some of the coun- 
try’s largest enterprises with class B shares for 


foreign investors, are confident they can ride 
out tne < 


currency shoct 

But the yen’s rise is an added concern for B- 
sharc investors already jittery about the im- 
pact on Chinese corporate profits of surging 
inflation and a credit dampdown. 

Investment analysis said an immediate fear 
was that the currency risk might discourage 
Japanese investment in doDar-denommated B- 
sfaares just as Japanese investment houses were 
showing more interest in Chinese equities. 

“We had expected some involvement from 
Japanese investors,” an analyst at Baring Se- 
curities Ltd. said Friday. He added that the 
higher yea “may be an issue.” 

Individual companies reliant on Japanese 
imports might be affected if the dollar weak- 
ened to 90 or even 85 yea, he said. The dollar 
closed Friday in Tokyo at 98.60 yen. 

A gpnWwman for Shanghai ShangKng Hec- 
tric Appliances Co_, a maker of refrigerators 
and air conditioners, likened the effects of the 
yen’s rally to the sudden rise of the dollar 
against (Ire yuan last year. 

The company said it was responding by 
expanding production facilities. 

“Last year when the exchange rate was 11 
yuan to the do&ar, we survived," he said. “I 
don’t dunk the effect will be mud) more than 
thaL” The yuan is now around 8.6 to the dollar. 

.Shangfing imports between 20 percent and 

ancf'Wpexcent to 5<?percent of thosefor air 
conditioners, mainly from Japan. 

For Shanghai Haixin Co., which makes 
plush fabric for China’s booming exports of 


stuffed toys, the potential impact is greater. 
In 1992, the company bought 96 percent of its 
raw materials from Japan, chiefly acrylic and 
polyester fiber. 

But a spokesman for Haixin dismissed con- 
cerns the high yen would raise input prices, 
saying Japanese suppliers would have to cut 
their profit margins instead. 

- “Our imports from Japan are priced in U.S. 
dollars.” he said. “With the appreciation of 
die yen, of course, theyTl want to raise their 
dollar prices, but we’re their biggest customer 
in mainland China.” 

Other Chinese companies agreed that the 
yen’s rise would have only a marginal impact 
on their operations. 

Wu Longgen, deputy manager erf Shanghai 
Sanxnao Textile Co_, which makes garmentc 


Hie appreciating yen has 
added to the corporate 
headache ior Chinese 


companies that depend on 
Japan for raw materials. 


on 


from Australian wool for domestic and 
use, said his company had already cut 
imports of refined wool from Japan. 

‘Now it’s mostly domestically processed.” 
he said, adding that China’s lower costs made 
it more economical to buy raw wool directly 
from Australia. 

In 1992, Sanmao bought 34 percent of its 
wool supplies from Japanese processors. But 
with the company’s issue of B-shares at the end 
of 1993, pressures for efficiency are rising. 

“Now that we’re a joint-stock company, we 
have to increase our profits every year,” Mr. 
Wu said. 


Korea Capitalizes, in the Short Term 


Agence Fraace-Presse 

SEOUL — The soaring yen has brought 
South Korea a rash of orders from Japanese 
companies frying to escape high costs at 
home, but h has also raised concerns about 
possible long-term side effects. 

Daewoo Co rp. recently won orders for S3.3 
millio n of excavator parts from Hitachi Corp. 
and S 1 million worth of parts from Sumimoto 
Corp., according to government data. 

. Mando Machinery Corp. landed Japanese 
orders for electronic automotive parts valued 
at $200 million, while Samomg Electro-Me- 
chanics Co. won a hefty pacta ge of orders 
from several Japanese companies. 

But not everyone here is thrilled by the 
unabated rise of the Japanese currency. 

In the short term, a strong yen leads to 
rapid expansion in Korean exports because 
Korean goods become more competitive in 
overseas markets. 

But South Korea’s heavy reliance on raw 


materials and machinery — costs of which are 
rising in line with the yen — detracts from the 
benefits. 

“A wave erf red ink in the trade balance 
with Japan would obliterate whatever hope 
we have erf coming out the overall winner in 
terms of profit,” said Nam Jang Keun, a 
researcher at the Korean Institute for Indus- 
trial Economy and Trade. 

The Trade Ministry has forecast this year’s 
trade deficit with Japan will reach a record of 
more than $10 billion. 

The government is studying ways to pro- 
vide certain companies with financial aid to 
help bring down that deficit. 

But the longer the yen’s strength continues, 
the greater the potential for adverse affects on 
South Korea’s economy, analysts say. 

“The trend could srniff out any improve- 
ment in Korean industrial competitiveness,” 
said Lee Gbeol Soon, a economist at the 
Daewoo Research Institute: 


Big Insurer 
In Malaysia 
Ordered to 
Liquidate 


Agence France- Prase 

KUALA LUMPUR — Ma- 
laysia’s largest general insurer. 
Mercantile Insurance Sdn„ was 
directed Friday to liquidate af- 
ter it had became insolvent. 

It was the first such case in 
Malaysia’s growing insurance 
industry. 

The central bank said Fi- 
nance Minister Anwar Ibrahim 
had issued the directive because 
the company was faring a capi- 
tal deficiency. 

Pending approval of the or- 
der by the High Court, the cen- 
tral bank appointed liquidators 
for the insurer, whose 1993 ac- 
counts showed a capital defi- 
ciency of 392.7 million ringgit 
($157 million), bank officials 
said. 

The bank, which assumed 
control over the property, busi- 
ness and other affairs of the 
company in 1991, directed Mer- 
cantile two months ago to cease 
writing new business and sus- 
pend payments to claimants 
and creditors. 

The 263,000 policyholders of 
Mercantile were asked to ob- 
tain policies with other insurers. 

The central bank said it pro- 
posed to pay policyholders, 
claiman ts and creditors 70 per- 
cent of their claims from an 
insurance guarantee fund, at an 
expected cost of more than 200 
million ringgit. 

But the central bank warned 
that policyholders would not be 
provided with any insurance 
coverage when their policies 
were terminated on the effec- 
tive date of the liquidation or- 
der. 

Since taking over the supervi- 
sion of the insurance industry 
in 1988, the central bank has 
been frying to enhance the cred- 
ibility of a group of 59 local 
insurers, some of whom have 
been plagued by capital inade- 
' and a lack of professional 



Hang Kong 

Singapore 

' '.'Tokyo 

.Hang Seng 

. Straits Times Nikkei 225 

WBO;-.-' * 

2500 . 

• - r: 28 S 00 •- 

-.tawir- 

----- ; MOdHt--- 


IIDOOV— 

. 2300 'M^'M 

far: 


••• ' 229 J- Yr 

13350 .. 


\ a»W- 

16000 

A M j J m V%f . A MJJ ® F M A- M Td 

1894 

•1994 • 

1994 

fije^iangQ 

Initex 

Friday » . Prev. % 



Close Close Change 

Hong Kong . 

Hang Sang . . 

SA 33 M 8 , 490.66 ' - 0 J 58 

.Srigapore 

Straits Times 

2 . 1 SL 94 2 . 146.01 + 0^9 

Sydney. : 

AJIOnUnertBS 

1 ^ 8430 ..-.. 1 ^ 62 . 20 .. ^ 4 J. 14 . 

.Tokyo 

\ NikM 285 ■■ 

- 20 , 620.00 - 0:40 

Kuala Lumpur 1 CompositB 

987.76 - 981.37 • . + 0.65 

Bangkok .. 

SET - •- ' 

;i^ 02.66 - 1.19 • 

.-.Seoul • .....: 


S 4&96 ^ 945-71 ’ : + 0 2 A 

Taipei \ . 

Wetted PAjq . 

6 .t 9 i .79 ■ 6 , 0 dS>t. + 1 . 58 . 

Manila 

PSE - ■ 

2,58335 ' 2.62953 - 1.73 

vtateta 

Stock Index ■ 

452 JS) ■ 454 . 104 . - rO. 42 . 

NAwZseted 

NZSE- 40 .; 

1,95593 ^ 1 ^ 966.25 . \WJ. 52 _ 

Bombay / ‘ 

National index ' - 

1,93821 ; - 1,33552 % + 0-15 

Sources : Reuters. AFP 

iMcrnaliraul Herald Trihoae 


Very briefly: 


• Deutsche Aerospace AG. a unit erf Daimler-Benz AG, and China 
Aerospace Corp. are launching a joint venture to be railed Eura- 
Space to build and operate satellites. 

e Gantry Acquisition Corp^ one of two U.S. bidders seeking 
control of Bridge OB Ltd. of Australia, dropped out of the race 24 
hours after saying it intended to increase its offer. 

• Coca-Cola Ca’s application for a joint bottling venture in Ho 
Chi Minh City has ban dropped from government consideration 
because the soft drink market in southern Vietnam is saturated. 


• V ietnam has approved $142 million of American investments 
since the United States lifted its 19-year economic embargo 
against its former enemy in February. 

• South Korea has eased import restrictions on cars made in the 
.-European Union to match regulations already in place on cars 
from the United States. 

• Akai Electric Co. posted a pretax loss of 1.8 billion yen ($18 
million) for the six months ended May 20, compared with a loss of 
941 million yen in year-earlier period, as sales fell 22 percent. 

Bloomberg, Reuters, AP. AFP, AFX 


Indonesia Opens to Investors 


Reuters 

JAKARTA — Indonesia 
plans to raise the 49 percent 
limit on foreign share owner- 


ship to an unspecified amount, 
line 1 


The central bank is closely 
monitoring the capital base of 
at least five others, insurance 
sources said. 

Malaysia’s general insurance 
business recorded a 20.6 per- 
cent increase in written premi- 
ums, to 2.89 billion ringgit, in 
1992, according to the latest 
available figures from the cen- 
tral bank. 


id line with new foreign invest- 
ment rules announced last 
month, a finance ministry 
spokesman said Friday. 

Under previous rules, foreign 
investors had to ensure that lo- 
cal partners bad a 51 percent 
stake in projects after 20 years. 

Indonesia faces stiff competi- 
tion from China, Vietnam and 
India for foreign investors’ 
funds. 


■ Sempati Goes Public 
Indonesia’s newest private 
commercial airline, Sempati 
Air, probably will go public 
next year, Agence France- 
Presse reported, quoting a com- 
pany spokesman. 


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-4 Jk InlfcHNAJTONAL 

Itmla^erilnmc 


Saturday-Sundqy, 
July 9-10, 1994 
Page 14 




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Euro-banks’ 


TTITi 


Avoid Outgo 
In the Quest 
For Income 


By Lawrence Malkin 


W HEN interest-rate fever starts 
coding, as many say it will, 
the frantic search for higher 
yields win resume. That's why 
some analysts say that now is the time to 
start following some of Europe’s soundest 
banks to Wall Street. 


NVESTTNG for income is a simple 
phrase based on complex assump- 
tions. The concept of income rests 
upon its distinction from capital, and 


the concept of capital — at least from an 
individual investor’s point of view — is 
itself predicated on an underlying notion 
of value. 


What those banks have to sell from that 
locale is preferred stock winch offers im- 
pressive returns in UJL dollars. Preferred 
shares of major British, Irish, Australian 
and Spanish banks are yielding from 8 
percent to 12 percent a year before taxes, 
and cany little capital risk. They also 
don’t de up money for the long-term. 


To begin at the beginning: Investing for 
income only mak es sense in the context of 
preserving capital. If you invest $100 in 
J anuar y at a fixed annual rate of 3 per- 
cent, and then proceed to draw a monthly 
sum of $10 from your investment, you will 
nm out of money in November. 

So the payment of regular amounts 
does not of itself constitute income. The 
notion of not eroding your capital base is 
im plic it in the idea of income. Income is 
the golden egg that turns bad as soon as 
the goose becomes confit (foie. 


Most are the equivalent of five to ten- 
year bonds, because the banks can’t call 



.mmM ii 


them in for thatperiocL Even ten or twen- 
ty- year U.S. Treasuries and German 


m. ... 

<<MaKw«. . r ,. anm , 

Source: Bloomberg 



_L P.CTT 


[ntofrufirMtil Herald T ribone 


ty-year U.S. Treasuries and German 
Bunds don’t pay as welL 


The next question is: What constitutes 
erosion of capital? Clearly, drawing down 
large sums in excess of any interest or 
capital gain depletes capital very quickly. 


Preferred stock is a sort of a hybrid. To 
an investor, it is like a bend because its 
fixed interest rate is virtually certain to be 
paid unless the bank goes belly up — and 
for these banks to go under, their countries 
would probably have to go undo, too. 

U.S. banks issued preferred stock dar- 
ing the 1980s but have called most of it in 
and issued common stock instead. U.S. 
banking giant Citicorp, even in its most 


Page 15 
Equity income funds surveyed 
International share 


International share 
incomes compared 

Page 17 O 

Corporate earnings vs. investors earnings 
Tomorrow's income for technology Investors 


parlous moments, never slapped a pre- 
ferred payment. 


But what happens if the investor is 
intent on preserving that $100, and takes 
only the monthly returns? At the end of 
the year, the $100 remains intact, and the 
investor has received $3. Is this successful 
investing for income? 

The answer depends entirely on the 
single most important factor for the small 
investor: Retail price inflation. If inflation 


f erred payment. 

To the foreign banks, their preferred 
counts as stock and therefore fulfills the 
stiff er new capital requirements of the 
Bank for International Settlements. 


is stagnant, the investor has kept the pur- 
chasing power of the $100 and yet gener- 


ated some extra cash. If inflation is run- 
ning at 2 J percent, there is an apparent 
gain of 50 cents over the year. 

The moral is that investors should not 
be seduced by promises of high “income” 
unless there is a reasonable prospect of 
their capital retaining its value against 
inflation. »« » 


Since many foreign banks are not famil- 
iar names to most American investors, 
they have to pay higher rates to raise 
money — a boon for investors outside the 
States who already know the banks on 
their home turf and do not feel they are 
taking a big risk. 

Preferred shares are easy to buy and 
track on the New York Stock Exchange; 
prices and yields are carried daily in the 
International Herald Tribune. 


prices, a minimum of around 8.5 percent 
WestDac Bank, iust combine out of Ans- 


Start out with the “A’s” in the listings 
and you w£D find the preferred stock of 
Allied Irish Bank listed as “AUrish pf.” 
The preferred pays $2.97 a year, winch at 


westpac Bank, just climbing out of Aus- 
tralia’s real estate collapse and rated “B,” 
had to pay 12 percent to raise money on 
WaH Street 

The British and Australian banks with- 
hold 15 percent of their dividends (Allied 
Irish withholds 21 percent), but on income 
tax forms for U.S. and some European 
taxpayers, this sum can be easily and fully 
recouped as a foreign tax credit 

The Spanish banks, which float their 


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Mailing Address: - — . . 

Country: — _ Po« Code: 


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incrrate •* Jrerew A, ufnuh. iiwrw.m mirnut ihnfsgef tack the unuam nricbuQf nmecii 


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the current price of about $27 a share 
works out to a yield of about 11 percent 

Among otho* blue-chip issuers of pre- 
ferred stock are Britain’s big clearing 
banks — Barclays, Midland, National 
Westminster and the Royal Bank of Scot- 
land. Australia New Zealand Bank and 
Spain’s two soundest banks — Banco Bil- 
bao Vizcaya and Banco Santander, which 
is listed as Santander Overseas Carp. — 
also issue preferred shares. 

All the banks have “A” ratings «t«j 
their preferred shares yield, at current 


stocks offshore in Gibraltar and Puerto 
Rico, withhold nothing and thus are more 
suited for tax-sheltered trusts and Individ- 
ual Retirement Accounts. 

Banks typically issue preferred at $25 a 
share, and its price then moves in tandem 
with interest rates although with far less 
volatility than bonds. The prices of 30- 
year Treasuries have plummeted more 
than 16 percent from their highs last No- 
vember, while the average bank preferred 
stock has declined slightly less than 8 
percent. 

“That means that when interest rates 
went up there was less capital loss, and 


when they go down there win be less 


capital gain, but there is more securityin 
the yield and you also can b&moredelib- 
crate in following the mad eet in deciding ' 


when to buy,” said Edward J. Burke 
Tucker Antnooy in New York, an analyst 
who follows preferred stock closely. 

Mr. Burke said that clients hold the 
stock almost entirely for pension funds, 
IRA’s and educational trusts, with some 
portfolios bedding up to $1 «"*ni«n The 
market is liquid, with tens erf thousands of 
shares traded cm a typical day. 


Whenever a big order comes in from a 


major insurance company or fund, the. 
price usually goes up one-quarter or half a 
point, so small investors should put in a 
limi t order at the lowest recent price and 
then wait until the buying waves subside. 

Relatively few brokers know a lot about 
these stocks, but they are regularly cov- 
ered for the retail investor by Global In- 
vesting a New York newsletter specializ- 
ing jn international stocks, and cm a 
wholesale level by Kate Rosscw of Salo- 
mon Brothers, who warns individual in- 
vestors to check carefully which issue best 
suits them for maturity, yield, and special 

CH B n p aaiinwt 


Convertibles: The Best of Two Worlds? 


By Rupert Bruce 


I MAGINE an investment hybrid 
that is part equity and part bond. 
Some might criticize such an instru- 
ment as neither fish nor fowl, but 
others see it as having much of the fun of 
equities with some of the safety of bonds. 

Such instruments, called “convertibles” 
are an esoteric breed of investment. They 
are issued as corporate bonds with a set 
lifespan, but can be converted into shares 
at a set price. They suit investors who 
want some exposure to shares, but who 
have relatively high income and safety 
requirements. 

in recent months, of course, the bond 
content has not saved the performance of 


convertibles, as h omimarif ew have phirwp d 
as much as, and often more than equities. 
This is not the typical course of events, 
however, and marry analysts expect con- 
vertibles to resume their relatively sedate 
character as soon as bond markets stabilize. 

Tim Thomas, London-based, manager 
of the Guinness Flight Global Strategy 
Convertible Fund, said: “A crude modefis 
that you capture about half the rise or fall 
in equity markets, but you get a bit of 
extra income. What has been happening is 
that with bonds going down, instead of 
getting half the fall you have been getting' 
about three quartos of the faH~ 

Professional investors determine 
whether convertibles are good Value by 
valuing both their bond element and tire 
option to convert, into shares. They value . 


tion using a : 
caUedtheB! 


fnsticated financial 
Scbotes Model 


Convertibles are issued all over the 
world, but the biggest market is in Japan. 
Companies based in emerging Asian 
countries are also beginning to issue con- 
vertibles. According to Mr. Thomas, there 
is a dearth of quality convertibles issued 
by U.Sl companies. r ‘ ' 


The market where the largest issuers 
meet the greatest. buyer* ip- Switzerland. 
The Swiss PraiK: convertible bond market, 
whidfaUce had a capitalization of about 
25 bQEan Swiss francs ($18.9 billion.), still 
has outstanding issues wortjiabout 5 bil- 
lion Swiss Francs aimed at tapping the 
Swiss predilection, for fixed income with 
an equity kicker. . _ 



Nil 


Vtataw 3 > NsubcrS 




International Fond Investment 












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Topics include: - • ^ 

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■ Opportunities and pitfalls in the markets. 

■ Developments in investment 
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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, JULY 9-10, 1994 


Page 15 




THE MONEY REPORT 


When Picking Stocks 9 Weigh the Dividend Yield 


By Barbara Wall 


V 


T HERE. is nothing 
wrong with buying a 
stock on the strength 
of its dividend yield — 
investors seeking income adopt 
this strategy alt the tone. 

But any serious analysis of a 
stock's value will have to take 
into account the relationship 
between a company’s earnings 
growth and its dividend 
payouts, as well as the effect 
that dividend payments, or the 
lack thereof, have on share 
price in the long term. 

Market and sector differ- 
ences also must be included in 
the equation .to complete the 
picture. 

“Most investors like to hold a 
few dividend paying stocks in 


«S 

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Sourvoihficropai 


Income Funds Back in Vogue 


By Alme Suffivan 


E 


QUITY income funds are casting a 
over investors oil both 


powerful -spell 
rides of the 


growth in the United States and Britain 
tr anslates into heal thier corporate earning s and 
mom generous dividend payouts. 

They are becoming morejjopular because the 
income factor provides a measure of 'stability, 
when markets arc volatile, said Kevin WtBdss, a 
fund manager at Fidelity Investment* in BoStOTL 
Investors in these funds want growth, he said, 
but also more security than is available through 
aggressive capital growth funds. .. 

“The income component .saves as a cushion, ” 
said Mr. Wilkins. “At least 65 percent of our 
funds must be-in dividend producing stocks: 
That makes equity income funds better for the 
long term Investor. ” “ 

Fidelity has two major equity income funds; 
the Fidelity Equity Income Fund and Fidelity 
Equity I nco me Fund JL Both cite . their j>iuhe 

«ii '— *■ vnmnip witTi w i n i itflT jmnren- 


anon playing second fiddle: Both have high oon- 
centrations in the financial and, energy sectors, 
with about 20 percent of each m. foreign 
investments. • 

Both Fiddly funds have Out pe rformed the 
Standard and Foot?* 500 index over, the pari 
three years, but most income funds passed 
through a difficult period during the early 1990s. 
due to the U.S. and UJC recessions. 

The secret to success during.this difficultpexi- 
od, according to Mike Confess, a fund manager at 
Allied Dunbar in London, was the selection of 
stocks supported by strong manage ment teams . 

He identified the UJRL occtncal giant GECas 
being among these companies, as weS as chemi- 
cal a nd pharmaceutical firm s ICI and Zeneca 
(the former components of the combined .ICI 
group). These rams were able to- m aintain 
healthy dividend payments throughout the Brit- 
ish recession and are now stronger than expect- 
ed, he said. 

for many British firms, the beg innin g of xe- 
ivery dates from the sudden departure of ster- 
ling from the Exchange Rate Mechanism tftoe 
European Monetary System m September 1992. 
Philip Glaze, a director of the London-based 
independent fund monitoring service Fund Re- 
search Ltd, said that Britain’s out from the 
ERM paved the way for higher dividends as a 
result of the enhanced competitive portion -of 
British firms in export markets. 


co 


Before sterling was devalued, a steady stream 
of 'British companies had ' been doing the un- 
thinkable and cutting their dividends. Investors 
in biramc funds bad been having a lean time. 

• Unlike their Asian and continental European 
counterparts, the management of listed UJS. and 
British companies cut dividends only as a last 
resort, for fear that the act will send mar compa- 
nies' share price, tumbling. Instead, they are 
wflEng to see dividend cover — the ratio of 
earnings to dividends — eroded and their scope 
in nmyffft farming* m the nrwnpany diminished. 

- Continental European economists such as Mi- 
chel AIbert,f ormer chairman of French insurer 
Assurances GSnfcrales de France and now an 
advisor to the Basque de France on monetary 
policy, claim that devaluation usually badefires 
because companies simply increase their payouts 
to shareholders, rather than ploughing the mon- 
ey bade into, the business. 

While devaluation may not necessarily have 
been goorinews for the long term health of the 
British economy, it certainly came as a relief to 
investors' in equity income funds. The biggest 
he nefimmeg , ray analysts, have been those in- 
come funds that took the hardest pounding bc- 
f orethe devaloationof sterling. 

• • H £Edierjpdds denote lower perceived quah- 
. ty, M smd the directors <rf Fund Research in a 

recent report focusing era equity income funds. 
“The performance of UJC. equity trusts over the. 
past year may be captioned as a flight from’ 
- quality — the top performing funds in the past 
■ year have been those already exposed to lower 
quality recovery stocks prior to SteriingVexit 
from the ERM. ” 

Mr. Glaze tempered his optimism with cau- 
tion. “Qan’t expect strong growth just because 
companies are. budding up dividend cover 
again,” , he warned. “But it is all leading to a 
turner base, income funds are getting back on 
trade after going through the mOL ” 

- Income fund managers are continuing to turn 
their attention to second-line stocks that are 
expected to be the next beneficiaries of economic 
recovery. Andrew Burdis, fund manager at Gart- 
more investments in London, said his company’s 
funds will be increasing their exposure to small 
companies over the next six months. 

Mr. Coriess agreed. He too wffl be focusing on 
gmaTlw companies and on what have previously 
been the poorer quality stocks, including banks 
and -bttOmng material companies. “All three of 
our -funds are . increasing their non-FT-SE 
wrightings, ” he said. “These companies should 


London brokerage Barclays de 
Zoete Wedd, who insisted on 
anonymity. “Past, experience 
has shown that high dividend 
payers tend to fare better than 
non-dividend payers during a 
crisis, as the presence of divi- 
dends cushio ns the stock from 
dramatic price falls." 

The classic argument against 
a progressive dividends policy 
is that it prevents company dr- 


ill the absence of 
growth, dividend 
yield becomes the 
single most 
important 
component of a 
stock’s value. 


yield,” said Andrew Bell, a 
strategist at BZW in London. 
“The share price is unlikely to 
rise on the strength of higher 
camingc done. For that to hap- 
pen, dividend payments must 
also increase.” 

In the absence of growth, 
however, dividend yield be- 
comes the single most impor- 
tant component of a stock’s val- 
ue. Some analysts say it is 
essential to check that the stock 
wfll continue to pay dividends 
regardless of the economic situ- 
ation. Otherwise, one could be 
left holding a slow grower with 
little going for it 

Also, if you are buying a stock 
on the strength of its yield, it is 
not enough to compare the cur- 


rent yield to the market average. 
Historic yield patterns should 
also be considered. 

“If a stock is yielding 3 to 4 
percent and the average yield in 
the market is 2 percent, inves- 
tors may be tempted to buy it,” 
said Joe Rooney, an investment 
strategist at Lehman Brothers 
in London. “However, if the 
stock normally yields 5 to 6 per- 
cent, it should be investigated 
further. A lower- than-nonnal 
yield is really only acceptable if 
the company’s growth pros- 
pects are good.” 

Fast growers also tend to 
have high price-earnings ratios. 
The P/E multiple shows the re- 
lationship between a company’s 
stock price and its earnings-per- 


share, and is typically used as a 
measure of growth potential. 
When markets are in a growth 
phase, P/E ratio often sup- 
plants dividend yield as the 
most important factor in calcu- 
lating value. 

Dividend yields are getting 
all the attention aL the moment, 
however, because of lower in- 
terest rates in Europe. “When 
one considers that average de- 
posit rates are around 3 to 4 
percent and that the dividend 
yield on some stocks is around 5 
or 6 percent, it is not surprising 
that investors are concentrating 
an dividend plays,” said the 
BZW analyst. 

High-yielding stocks can be 
found in the European financial 


sector, particularly banking, ac- 
cording to Marcus Grubb, a 
strategist with Salomon Broth- 
ers in London. “These stocks 
have fallen more than others so 
they are yielding a premium,” 
he said. 

Analysts also say there is lit- 
tle doubt that the stage of mar- 
ket development has an impact 
on the overall yield. More ma- 
ture markets tend to trade on 
higher yields compared to 
growth markets. 

“Dividend yield is virtually ig- 
nored by Japanese investors, 
who prefer to measure a stock’s 
value by its P/E ratio " said Yu- 
iaka Sugjyama, director of re- 
search for UBS Phillips & Drew 
in Tokyo. “The fact that the Jap- 
anese economy was growing at 
twice the rate of the UJS. econo- 
my during the 1980’s partly ex- 
plains the importance attached 
to P/E multiples and the lack of 
interest in dividend yields. 

“But it does not explain why 
the P/Es ratios are so high,” 
continued Mr. Sugjyama. “The 
average Japanese P/E for 1994 
is around 60. Corporate earn- 
ings will have to improve dra- 
matically in the near future to 
justify these exceptionally high 
multiples.” 

The importance attached to 
dividend yields is likely to less- 
en as interest rates start to rise. 
However, this may not be for at 
least another six to eight 
months, say many market ob- 
servers. In the meantime, high- 
yielding stocks will continue to 
be attractive. 




Best Performers 


Worst Performers 


t to benefit as the economy improves. 


rectors from taking a long-term 
business view, and limits the 
funds available for investment. 

Roger Barker, an equity 
strategist with London-based 
UBS Phillips & Drew com- 
mented: “Small, dynamic com- 
panies should grow much faster 
n they re-invest surplus profit 
However, company directors 
have a nasty habit of blowing 
the cash on madcap investment 

schemes. As a result some com- 
panies are better off distribut- 
ing profits. 

“If the company realty needs 
to diversify in order to grow, ' 
Mr. Barker continued, “jt can , 
usually raise money from the 
capital markets.” 

Whatever the market or sec- 
tor, stocks will generally trade 
I on lower yields if they have a 
. favorable growth profile. Some 
I investors are prepared to accept 
tradeoff between dividend 
yield and capital grins. “In 
markets with high participation 
by retail investors, some may be 
indifferent to the way in which 
they receive their reward — by 
capital grins or by income,” 
said Marcus Rosgen, an inter- 
national equities strategist with 
SG Warburg Securities in Lon- 
don. “Institutional investors, 
however, tend to prefer income 
to capital gains. Hence, the 
pressure on companies to pay 
out higher dividends.” 

Institutional investors — 
particularly pension funds — 
are traditional strong buyers of 
equities in (he United King- 
dom, which may explain why 
dividend yields tend to be high- 
er there than in Japan or conti- 
nental Europe. 

“Once earnings start to esca- 
late, investors uwjl expect to see 
an improvement in the dividend 



sa*. 




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Compiled by Morgan Stanley Capital interna tionaJ. Prices in local currencies. 


Inumaiioiul Herald Tribune 


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


- == THE MONEY REPORT 


Page 17 


oom Fades from the Bright, Technology-Stock Rose 



By Conrad deAenBe = 

I T WAS only a jenny or two, both 
COSl a fortu ne . The Tnft nwgwTu»r[f q [ a 

computer chip maker 
loosaid maritet analysts had been 
A aggressive m their earnings fore- 
'll casts for the company this past quarter So 

■ ■ a couple of them shaved acoupfc of eenis, 
t"V ** mosl » fro ® their estimates, which had 
r 1 been concentrated at around 55 centyper 


stock was sold dowix 17 pereentma few 
hours that day in mid-May. It dosed at 
$39^50, after having traded above S53 the 
week before. 

A few day s before Xffiux was broadad- 
ed, Cisco Systems, which makes computer 
networking technology — systems that 
allow personal computers to communicate 
with each other — reported quarterly 
earnings exactly inline with expectations. 


But Cisco warned that sales would grow 8 
percent from one quarter to the next, 
compared with the 12 percent to 15 -per- - 
cent that it had routinely achieved in the 
past Its stock fen 55.75 to $2355. 

. -Soch a tGrrcnt erf selling sceatns an ex- 
treme reaction, considering how close the 
results were to expectations. But it was not 
that tiny shortfall that was responsible, 
say people who follow these companies. 
Rather, it represented a ratcheting down, 
of expectations for the next repealing peri- 
od. 

“It’s a forward-looking market; it’s not 
so much what this number is, but what 
forward numbers win look like/* ex- 
plained Jim Paxmdee, a technology ana- 
lyst at CS First Boston. “The market re- 
values what growth rates will be in the 
future." 

- The. market in technology stocks con- 
sists largely of “momentum jplayexs,” 
traders who like to buy companies whose 
earnings charts trace out a sharp, steady 


r aid slope. As soon as the slope heads 
other way, or even continues to rise 
less steeply, they sefl and move on to 
something dse. 

Why are they so quick to leap off the 
bandwagon? For the same reason, often 
suspected but not so often articulated, 
that many on Wall Street make the deri- 
sions they do: They simply don't know 
what they’re doing. 

“These businesses are very complex," 
said Paul Svetz, an equity analyst for tech- 
nology companies at the Scudder fund 
management company. “Because it's such 
an opportunistic area — such an attractive 
area growing so fast —people tend to pay 
high premiums for these stocks- You’re 
willing to pay a big premium up front for 
this outstanding performance, but at the 
first sign of disappointment, those inves- 
tors who perhaps don't have a dear pic- 
ture of the industry and iheTmsiness asso- 
ciated with it may amply abandon the 
stock. Most people would not understand 


how a multiple-protocol router works, but 
it’s a $2 billion market." 

For those who do know that a router is a 
type of networking system, earnings that 
fall short of forecasts can be taken as a 
sign that not all is right with a company. 

“Earnings expectations have been fine- 
ly honed to reflect a company’s business 
opportunities," said Neil Weintraub, a se- 
nior technology analyst at Hambrecht & 
Quist “When they fall short of those ex- 
pectations, it’s a leading indicator that 
there are some issues or problems that 
need to be addressed. Certainly it's not 
always the case that when a company 
comes in light, there are broad ftmdarnen- 
tal problems. But it indicates some issue 
out there and that's the way the markets 
have evolved to work.” 

The issue in the networking business is 
an increase in competition between mak- 
ers of routers, such as Cisco, and of rival 
systems called intelligent hubs, Mr. Par- 
melee said. It will take several years for the 


battle to be played out in the meantime, 
"demand for networking equipment con- 
tinues to be very strong,” and sentiment is 
negative enough that there is little room 
for further disappointment. 

As for Xilinx, Charles Boucher, who 
follows the company for Hambrecht & 
Quist, said the present quarter may disap- 
point, but looking funner out, the market 
may be underestimating its prospects. 

“Xilinx is an excellent company that 
delivers generally solid financial perfor- 
mance,” Mr. Boucher observed. “The 
business they participate in is a very high- 
growth business and they are the market 
leader." There is every chance that the 
fourth quarter could offer a positive sur- 
prise to match the recent negative one. 

It's tough staying on top quarter after 
quarter, but companies, especially in high 
technology, go out of their way to make 
the effort. Mr. Weintraub said it is com- 
mon practice to make a purchase from a 


Earnings Always Mean Higher Dividends? briefcase 





Source: J.P. Morgan 


By Djgjg lamer 

I NVESTORS looking for income 
from equities have had a rough ride 
in recent years. In Europe, especial- 
ly, where the recession has taken a 
heavy: toll on corporate earnings, share 
dividends have been badfy’ilrL 
Bnt some analysts now believe that 
many businesses have turned the corner. 
With recovery prospects looking better 
than expected, corporate earning? are 
cWring out of the red. 

- The trick far income investors, say ana- 
lysts, is to spot where earning ? are most 
likely tpjrow and whether or not iheywfll 

translate turn larger rfryfdrndff flnmpTjpn f- 

ing that endeavor is the fact that the im- 
pact of earnings an dividends often varies 
between countries and sectors, as well as 
between corporations., 

Roger Barker, an eqirity'^irategist with 
UBS FbalEps & Drew in London, said that 
British corpor a tions, for example, tradi- 
tionally pass on a higher proportion of 
earnings to shareholders than those in oth- 
er. European countries. 

“Hus has, a lot to do with the structure 
of share ownership in Britain,” he said. 
“Large pension funds and insurance cam- 
pames are often major shareholders in big 
businesses. They have an interest in put- 
ting pressure oil companies to . pay out 
higher dividends. 

“In countries like Germany, on the oth- 
er hand, ther e is more cross- shareholding 
between companies and banks,” Mr. Bark- 


. cr continued. “Under these circumstances 
there is less pressure from shareholders for 


While this makes British stocks a likely 
Gist choice for many income investors, a 
question mark hangs over how much iong- 
er this difference wiQlasL High payouts m 
Britain have attracted the unwelcome at- 
tention of tbe cotm try’s government and 
opposition parties. 

Stephen DoireB, a junior Treasury min- 
ister, has gone on the record as saying that 
high dividends are drawing corporate 
earnings away from much- needed invest- 
ment programs. 

The industry spokesman for Britain's 
opposition Labor Party, Robin Cook, has 
pubfidy expressed the same view, and has 
gone further by hinting that a future Labor 
government would impose limits on the 
level of dividends corporations can pay. 

Although management groups are lob- 
bying hmd to persuade politicians that this 
view is misguided, the possibility of future 
limits on dividend payments in Britain 
cannot be entirely discounted yet. 

Among individual stocks, there is no 
guarantee that higher income growth nec- 
essarily means a higher payout for share- 
holders. Logically, they should go hand in 
hand, bnt much depends on how each 
corporation faired during the recession. 

Nicholas Wilson, an analyst with No- 
mura Research in London, says that while 
some businesses reduced dividends when 
earnings fell, others tried to maintain them 
at existing levels. 

“Those who cut dividends early and who 
are now seeing earnings pick up will be 


able to push up dividends soon," he said. 
“Unfortunately, the ones who continued 
paying out at the same level throughout 
the recession have seen their dividend cov- 
er badly eroded.” 

Dividends are also being held back by 
concerns among corporate chiefs that the 
recovery is weaker than some market ana- 
lysts believe. Figures from the investment 
manager J.p. Morgan show that predicted 
flaming ? growth figures across Europe for 
the rest of 1994 are way ahead of dividends 
in most coumries. 

The biggest discrepancy between the 
two figures is in Germany and France. 
Earnings in Germany are expected to grow 
by a massiv e 42 percent this year while 
dividends are set to increase by only 6 per 
cent In France the figure is 36 percent 
earnings versus 6 percent dividends. 

This is partly a reflection of how badly 
hit both countries were by the recession. 
Confidence remains shaky and corpora- 
tions need to see further evidence of the 
recovery taking hold before earnings are 
translated into significantly higher divi- 
dends. 

Barry Woolf, investment director at 
Mercury fund managers in London, says 
that although there is evidence of sus- 
tained growth is earnings, the turnaround 
is too recent to have an immediate effect 
an dividends. 

So, even as earnings forecasts improve, 
income investors may have to wait until 
early 1995 before they see dividends re- 
turning to the levels of growth which they 
enjoyed before the recession hit home. 


MFS to Launch New Fund 

Massachusetts Financial Services is 
launching the MFS World Asset Alloca- 
tion Fund, which will divide shareholders* 
money among five investment categories: 
U.S. and foreign stocks, U.S. high-yield 
and investment-grade bonds, and foreign 
bonds. 

The allocation will be determined by 
the company’s senior investment officers 
and researchers at meetings held monthly, 
or more often if market conditions war- 
rant, MFS said in a statement announcing 
the fund’s inauguration. Once the alloca- 
tion has been set, managers in charge of 
each sector will figure out which individ- 
ual securities to buy. 

The fund, which wd begin doing busi- 
ness July 22, will be issued in three classes, 
each with a different charging structure. 

Prospective buyers should study the 
prospectus carefully and then ruminate 
long and bard to determine which class, if 
any, is right for them. 

The minimum initial investment for all 
classes is 51,000. 


An Emerging Markets Twist 

Does the world really need another 
emerging markets fund? Robertson, Ste- 
phens & Co., the San Francisco invest- 
ment group, thinks so — as long as it has a 
unique twist 

The firm has just launched a fund which 
it claims win profit from both the ups and 
downs of the notoriously volatile emerg- 
ing markets. 


supplier near the end of the quarter be- 
cause the supplier wfl] offer the best deal 
possible to try to seal the deal and boost 
the revenue it can report for that period. 

The emphasis on short-term results 
“can induce companies to try to cut costs 
at the expense of long-term paybacks," he 
added, “if we think a company is underin- 
vesting, well factor that into our projec- 
tions.^ 

While such mortgaging of the corporate 
future may scon unhealthy, Mr. Sveiz 
advised that a heavy price can be paid for 
failing to secure the good will of Wall 
Street 

“Share prices are very important to 
their ability to raise capital and in their 
ability to reward employees," he pointed 
out 

While the IBMs of the world can pay 
cash for the best staff, smaller companies 
rely on packages laden with stock options, 
the value of which appreciates, often dra- 
matically, as shares grow in value. 


To play the downside, fund manager 
Michael Hoffman will allocate up to 25 
percent of his cash to “short" selling in 
markets which be views as riding for a fall. 
He'D sell borrowed shares of companies in 
those countries, or of funds which target 
those countries. 

Thou if their prices fall as anticipated, 
he will profit by buying the shares back at 
lower prices to return to the lenders. 
(Since short selling is forbidden in most 
emerging markets, Mr. Hoffman will bor- 
row shares of companies and funds which 
are listed outside their home market For 
example: a country fund listed on the New 
Yak Stock Exchange). 

Mr. Hoffman’s top “short” candidate is 
Brazil, where he believes leftist Luis Lna- 
do da Silva is heading for a win in the 
October Presidential elections, sending 
the market into a taflspio. 

On the upside. Mr. Hoffman favors 
Korea, where he anticipates economic 
growth of a healthy 7 percent this year. He 
owns companies like Samsung Electronics 
and Hyundai, the auto maker. 

He is also belting on Mexico, where he 
predicts that the ruling party will win the 
August presidential elections. 

Initial investment in the no-load, open- 
end Robertson Stephens Emerging Mar- 
kets fund is 55,000. For more information, 
call San Francisco (1 415) 781 9700, or fax 
(1 415)433 2964. 


The Money Report is edited by 
Martin Baker 


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Page 18 


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


SPORTS 

3 Close Races 
Light Up Skies 
For AL Playoffs 


•- i. *>{. 


0 


The Associated Pros 

Halfway to the expanded 
playoffs, the American League 
has three pretty decent-looking 
divisional races. 

The Cleveland Indians be- 
came the last AL team to play 
its 81st game Thursday, losing 

AL ROUNDUP 

to the Texas Rangers, 6-4, in a 
contest between first-place 

twims 

Texas maintained its three- 
game lead over Oakland in the 
West while Cleveland had its 
Central lead cut to one game 
over Chicago. 

“It would be nice to be in 
their division, but first place in 
any division is still first placed' 
Said the Indians’ manager Mike 
Hargrove, a Ranger from 1974- 
78. U I played here for a long 
time and I know if there’s a 
pennant flying in Texas, this 
place will go crazy, just like it 
will in Cleveland." 

In the AL East New York 
increased its lead over Balti- 
more to 1V4 games by beating 
California while the Orioles 
were losing to the A’s. 

No team has been able to 
coast this season, but the Yan- 
kees have been in first longer 
than the In dians or Rangers. 

New York moved into first 
on May 9 and has been there for 
the past 60 days. Cleveland has 
been in front of Chicago for 27 
days and the Texas has held 
first for 39 days. 

The Rangers kept their ad- 
vantage at three games over 
Oakland by getting getting two 
home runs from Dean P alm er. 
His two-run shot in the fourth 
tied the score at 2 and his long 
three-run blast in the fifth put 
the Rangers ahead to stay, 6-3. 

It was Palmer’s third two- 
homer game since June 18. 
Since then, he's had 1 1 homers, 
giving him 17 for the season. 
His batting average also has 
skyrocketed, going from .229 on 
June 24 to .268 following 
Thursday’s 3-for-4 game. 


became the first 13-game win- 
ner in the AL. 

Key allowed six hits in seven 
innings , with Bob Wickman 
and Steve Howe finishing up. 

Two-out singles by Wade 
Bo gg s and Danny Tartabull 
drove in two runs in the seventh 
inning , breaking a 2-2 tie. Ran- 
dy Velarde had a homer and 
pinch-hitter Paul O’Neill drove 
in the final run with a single, 
upping his average to 381. 

Athletics 6, Orioles 4: Geron- 
imo Berroa singled in two runs 
to cap a three-run sixth that 
continued Oakland’s winning 
streak and ended host Balti- 
more’s at four games. 

Scott Brosius had three hits 
and scored twice for the A’s, 
who have won five straight and 
13 of 14. 

The Orioles’ Mark Eichhom 
had bis 20% scoreless inning 
streak ended and took the loss. 

White Sox 9, Tigers 5: Robin 
Ventura broke out of a 2-for-23 
skid with a leadoff double that 
triggered a four-run second in 
Detroit and later homered as 
Chicago won for the 15th time 
in 19 games. 

Detroit's rookie shortstop 
Chris Gomez, who had driven 
in only one run since June 27, 
got four hits and three RBIs; he 
nas driven in 47 runs with his 62 
hits, all in only 221 at-bats. 

Mariners 4, Red Sox 3: Ken 
Griffey Jr. broke his 11-game 
homerless streak and Brian 

Timing *ing li»H in the winning 

run in the 10th in Boston, but 
Seattle’s biggest swing may 
have been Keith Mitchell’s 
ground out to the pitcher in the 

The liner off his leg led to 
Aaron Sde's departure after 
eight inning s in which he had 
given up only three hits and 



jlf . .■>. . * ? JUT/* 

Tbc AnodaKd Pro* 


Jimmy Key, halting another Yankee losing streak, became the AL’s first 13-game winner. 


held a 3-1 lead. Reliever Ken 
Ryan gave up three runs and six 
hits in two innings. 

The Mariners’ Randy John- 
son struck out nine, walked 
three and allowed five hits in 

nine innings. 


Royals 8, Brewers 3: Mike 
Macfariane’s three-run homer 
climaxed a six-run seventh that 
beat Milwaukee in Kansas City. 

Tom Gordon won his fourth 
straight, giving up five hits, 
wallring three and striking out a 


season-high nine in eight in- 
nings. 

Blue Jays 4, Twins 3: Rick 
Aguilera’s two-out, ninth-in- 
ning wild pitch allowed pxnchr 
runner Rob Butler to seme for 
via ting Toronto. 


ww i— wiyiw i WiywfW 

B altimore — &.&$.isi.beiag 

made over Cal. ftpfcejyfa; the wrong tea- 
sons. The day after he w^v^ld fhe American 
League’s starring shortstop in .the AUhStar Game 

for the 10 th o^twreach^ tben^orotof the 

schedule on a paoe/or 20f>hits; 126 rajs batted 
in and a 312 average, onast^stksal par wkh his 
most valuable player years in 19&3 and 1991 . 

True to his form, Ripken re^jonded to the-5 
milli on all-star- votes and. his- fat. stats by apolo- 
gizing for last season. In he was embar- 
rassed by the .723 batting average he dragged to - 
the plate with him at the Aft-Star Game. 

Butcvcn Ripken fragcts \^icre his value lies. 
He’s not a pre-eminent hitter, just an excellent, 
durable, one, like. . . ' •••,.. ..... • • . . 

Carl Yastzzansld -• •' - ril 

or At Kalin e. I™*® JCTO 
What defines lUp- .. _ iiHa 

ken, and makes : — 

him one of the greatest players ever, is bis de- 
fense. Except for Ozzte<Smftn, Ripken is the best . 
defensive shortstop of h& era. 

There, I’ve finally Safa it. After 1,968 games at 
shortstop, the case for Ripken’s defensive prow- 
ess is overwhelming. 

Fact Of active shortstops, Ripken makes the 
most double plays per game. Gray one current 
player, Dick Schofidd,js close tohim.The gaudy 
acrobats of the position, such as Smith and Ozzie 
Guillen, are not. In Us career, Ripken has aver- 
aged 110 double plays in 162 games a year. 
Thafs 10 a season more than either of the dizzies 
and 25 more than many shortstops. This season, 
Ripken is on pace to lead the league in double 
plays for the seventh rime, which would be the 
ma|or league record. 

Fact: Of all active shortstops, Ripkeaisseo- . 
and in efficiency at turnin g .ground balls into . 
outs: 3.07 assists per game for his career. Smith, " 
the Wizard of Oz, readies nearly 50 more ground- 
ers a year than anybody else (336 assists per 
game). That’s an.enonribus rap, but then he’s the 
consensus Greatest Ever. What’s shocking is that, 
over his career, Ripken edges, out those other swift 
players famous for their range: Barry. Larkin 
(3.05), Guffien (3.04), Tony Fernandez (2J91). 

How can a slower, less spectacular Odder - 
make more plays? Ripkeustudies hitters faztari- . 
cally. “Cal knows everything about everybody,’’ ' 
says catdier Chris Hones. “And he’s wfflrng to 
gamble, even though he gets burned at times.” . 

Also, Ripken uses the old trick of “cheating” 
on many pitches. Since Ripken knows whether 
the pitch wfll be fast or slow; made or out, he 
leans toward where the ban is likely to be hit, __ 
giving him a jump. That, pins a great first step, 
lets him materialize suddenly to make “routine” 
plays on balls that, when they left the bat, looked ' 
like Mts. This also takes a gambler’s courage and. 


occasionally, Ripken crosseshimsdfup sotadty 

while he seems vapor-locked, fuddn? 

Honevs.as 

reaSmote balls than anybody but the “v 

pounds* the 1 biggest drortstop ever, he’s had to 
reinvent lots dffi 


t hing, batlhad no doc. five or sixyeaxs 
something would dick and I’d say, That’s whm 
he meant' For example, you re taught to take the 
Kali to your backhand side off your left leg 
that is. withyour left leg extended toward the 
catch. “You can reach the farthest that way and 
you only need to take one jab step withyour right 
lea to stop your momentum and then throw, if 
you take the b a c kh and off the right leg. you need 
two steps to come under control and throw. 

“Belanger told me, ’At the -major league level, 
you have to know who’s at bat because taking the 
backhand the “correct” way — off the left foot 
—won’t wo* with* speedy runner. You have to 
stop your momentum before yon get to the ball, 
lav?, the backhand off the right leg and throw in 
the sana motion with no steps at alL’ - 
- “Of course, if you do that, you have to put on 
the brakes sooner and you have a tittle less range. 
Sometimes, yim won't quite be able to reach the 
baflu That locks bad.. Your instinct is always, to/ 
get to the balL Belanger said, ‘If you get the ball , 
but can’t throw out the man, where is the play?' ” 

Ripken never stops Teaming. “The last couple 
of years. I’ve moved a step or two closer to the 
hitters to increase my range,” he says. 

What? 

“Range is tike a cone. If you map a trajectory 
of the balls toward your position. It’d look Eke a 
crate. As you move fanner from the hitter, that 
cose gets wider and wider. 

“If yon move closer, you narrow the cone, just 

: - i x 


“Closer is better — if you're positioned properly, 
if you read the angle of the ball off the tot well, if 
you’re qnick enough with your first step and your 
haads to cope with the bail getting oirtop of you 
a Hide faster.” . 

Those, 'of course, are exactly Ripken's 

..Li « •-* — - - - » iu iu.n 


Despite Their Fatigue, Reds Rally to Defeat Pirates, 8-7 


he said. Tm not sitting back 
and trying to put the Ball in 
play. Tm trying to drive it." 

Yankees 5, Angels 2: Jimmy 
Key helped end New York’s 
three-game losing streak by 
holding visiting California to 
six hits for seven innings and 


IPs easy to 


InlailpMre 
06 023 5158 


The Associated Prat 

Sapped by an all-night flight 
home from Miami, the Cincinna ti 
Reds were brat and the game 
hadn't even started. 

But, with a resiliency not seen in 
Cincinnati since the mid-70s, and a 
fighting spirit that would make 

NL ROUNDUP 

Pete Rose proud, the Reds rallied 
three times Thursday night and 
beat the Pittsburgh Pirates, 8-7, in 
II innings. 

Kevin Mitchell singled home the 
winning run with one out in the 
11th. 

“We were kind of flat the whole 
first part of the game.” said the 
Rods’ manager, Davey Johnson, 
who let his tired players arrive at 
the ballpark two hours later than 
usual. “We were tired from getting 
in at 4 AM. and those 10-day road 


trips take a lot out of you. In the 
sixth inning, we realized we were at 
.home.” 

Shortly, afterward, the Pirates 
must have realized they were in 
Cincinna ti, where they had lost six 
straight since July 2, 1993. 

They took a 5-3 lead into the 
eighth, but lost it on Tony Fernan- 
da’s RBI single and a bases-load- 
ed walk to Hal Morris. 

They tot* a 7-5 lead in the 10th 
on RBI singles by Carlos Garda 
and Jay BdL but lost it when 
Mitchell doubled and Morris hit 
Bias Minor’s first pitch over the 
wall in right-center. 

After Johnny Ruffin blanked the 
Pirates in the 11th, Minor gave up 
two walks and Mitchell's angle just 
inside the third-base line. 

“You get into those situations 
and the odds are against you win- 
ning,” Morris said. “That’s no se- 
cret. It’s exciting." 


And the Reds hove mastered the 
art The latest victory was No. 50, 
and half are oome-from-behind 
victories. - At Rivtxfrant Stadium, 
they are 28-1 1, the best mark in the 
National League, and an impres- 
sive 8-1 in extra inning s. 

“We’ve played real well at 
home,” said Morris, who is hitting 
355. “We fed if we can keep it 
close late, we’ll find some way to 
score a few runs.” 

Don Slaught went5-for-5 for the 
Pirates and Jay Bell had three hits 
and three RBIs. 

“We should have had about 10 
runs,” said the Pirates manager, 
Jim Lcyland. “But that’s not the 
baUgame. We still had the ball- 
game in hand and didn’t get the job 


Astros 9, Cubs 3: Craig Biggio 
got four hits against Chicago for 
the third time this season and 


drove in three runs as visiting 
Houston won its sixth straight. 

Steve Finley and Scott Servais 

■added' three hits apiece for -the As- 
tros, who finished with 17 and an 
defensive tamed five double plays. 

Giants 5, PMHes4: Matt Wil- 
liams hit Ms 31st homer following 
Barry Bonds’ RBI double in a 
three-run sixth as San Francisco, 
playing at home, edged Phfladd- 
phia to map its three-game, losing 
streak. 

Darryl Strawberry, robbed of a 
homer by M3t Thompson in the 
sixth, went 0-for-3 with a walk in 
Ms debut with the Giants and first 
major leaguegame since June 1 993. 

Expos 7, Padres 0: Ken Hill ' 
pitched a five-hitter in San Diego 
to join Jimmy Key of the Yankees 
as the major league’s only 13-game 
winners, and Danin Fletcher Mt a 
three-run homer as Montreal won 
its sixth straight from the Padres. 


It was Hill’s first shutout and 
second complete game this year. 
He struck out eight and walked 
one. • — i -»i ? <u !».■ 

Mete 3,' Dodgers <k Todd Hund- 
ley Mt Ms 13th-hoiner ter spade- 1 * 
three-run fourth in Los Angeles 
and Jason Jacome yielded only six 
hits in Ms second major league ap- 
pearance as New York , won its 
fourth straight 

- Jacome, who. joined the Mete’ 
rotation when Dwight Gooden was 
suspended for violating Ms sab- 
stance abuse aftercare pr ogram, 
did not walk a batter, struck out 
four and allowed four hits in the 
final 816 innings. He allowed only 
one runner as far as third base. 

Roddes 2, Martins 1: David 
NSedretircdthelast nine batters in a 
seven-hitter and Andres Galarraga , 

as visiting Coloradot*!^ Florida fra | 
its fourth straight victory. : 


wan only two Gold Gloves. Once, he made three 
-esror&in .'362vgas^/TMs. season, he’s again . 
leading the league in Adding percentage (.985). 
Btt- ifo this ‘<ftxy, hP-foends more time defending 
Madefense than explaining how he does such a 
rpagnificentjob. ^ ^ 

Conffldfz.tMs. Ozzie Smith has led the league 
mass^d^tmi^intenite twice, double plays 
■fiverthm«^chancesper^game six times and fidd- 
ing percentage seven tames. Thai’s 28 defensive 
tioes; Among thc great shortstops since World 
War II, Luis Aparicio had 23 titles, Roy McMil-^ 
Han and Dick Groat 16, Don Kessmger 13. Mark-' 
JWanger had only eig^t defensive trties. 

24 titles — Secomlto 
Sarith. That seven for assists, six for pu touts, 
three for cfcmGes-peF'game, six fra double plays 
and two for percen tage . He dso figures to pick 
up a couple more this season. Only 33, he could 
end up with foe most titles ever. 

' IBs glcJyc, hot “Ms bat; has always been Ms 
greteest foOL^Tbatsuch an Mstozicalty adept and 
innovative fidder should also have more extra- 
base hits than anyone dse during his time in the 
majors makes Mm nmqnr. And valuable. 

Oh, ye& Barring rramutaor injuries, Ripken 
wffl pliw Ms 2,000th consecutive game on the last 
day of Jidy. Hdll probably tip Ms hat Once. 

To mlmifta in Qaniuiiy 

lusf cod, loR 
0130848585 




























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mag — 




INTERNATIONAL HERALD TRIBUNE, SATUEDAY-SUNDAY, JULY 9-10, 1994 


Page 19 




SSSVi 

is? 

Pmc» 1 Prate/ Apace Fruee-Presc 

j?reg LeMondreacbed Kilometer 183 in Friday's stage of the Tour de France — and for him it was end of the road in this race, and probably his career. 



Call Off Monza Grand Prix 


Compiled bf Our StaffFrom Dispatches 

ROME — The Italian Alrtomohflc 
Chib said Friday it had called off the 
Italian Grand Enx, scheduled for Sep- 
tember in Monza, because oS what it 
said are inadequate safety measures. 

A spokesman for (he International 
Automobile Federation, the sport's 
governing body, said the federation 


has riHtimme resp onsib ility for wheth- 
er a Grand Prix takes place. But, add- 
ed the spokesman, Martin 'Whitaker, 
if the “national governing body re- 
fuses to license an event, then obvi- 
ously it cannot, go ahead.” - 

Italian motor ncing nfFfcriiTg have 


snres could not be tightened after the 
deaths of Ayrton Senna and Roland 
Raizenbergex at the San Marino 
Grand Prix in Twinia 
Marco Piccanini, the head of motor 
sports in Italy, said that new security 
measures proposed by FIA were in- 
adequate. Piaanini said all Grand 
Prix events in Italy had been sus- 


pended for the remainder of the year. 

“If in September a grave accident 
occurs, public opinion and the au- 
thorities of our country would not be 
able to fathom bow a Grand Prix 
could have taken place when FIA 
made less stringent security measures 
than h had already proposed for 
1994,” he said in a statement. 



timm 


Major League Stan di ng* 


AMERICAN LEAGUE 
lot Otyliloa 


HevrYbrft' 

W L ■ 

Pd. 

OH "• 

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uarez. tft^ u-Maors. B*_ 5»-OCeoo a) 
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dl.BaUam (I), Minor a) and Staught. Par- 
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Branflav (t). C ar r u s ui m, ftrlum (it). 
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TRANSACTIONS 


BASEBALL 


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51 31 

ASS 

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• 51 33, 

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Thursday* Une Scores 


AMERICAN LEASUE 
CotHondo SM MS MB-C S • 

NSW YorS MS 1M Sl»-« .11 1 

(jonostaa Butcher (*). Masrons W and 
Tumor; Kov. Wick man (», Haws (91 and 
Hakes. ff—Kwr. i>i Lr-Lonsshm. W. 
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(4) and HaHes. W— Van PoopoLS- 7. L— Etav- ‘ 
tom, Stt. Sw-EdtoWsy (14). 

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Texas M » «M ll l 

Nhsv ad SAtonor: Leary, odver (U, 
Henke (9) and n sd r lao w . W— Leary. VOl ' 
L — Hoar. M Se H onto (V- HR i - C l a m 
load, Thome (11). Texas, Primer 7 (17L 
NATIONAL LEAOUB . 

I- S 2 

S I 

Badtto Barked (7V Aadamn (B) and 
Pidlt) Block, Moatolaano (7).Bwba (SXBadt 
(VXMMaavKsina. W— Otadc.7-0. L— Baskto 
AX 3v fl ac k OAl.HRs— ttanFrupcMcxCsw 
is Ol.WWtons (111. 

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cn d SonHoao. W N tol l LL— Johnstone. M. 
iinaiies Mi in »s-y 17 1 

Odens ns M2 ism M 1 

Kite, H am pto n (7). Roynotds (9) and Ser- 
vris; Banks, IWey («, Otto (7) and WDkto. 


Y»i uwny K w fc la l to »(4), ni totod st .'TtoB»- 
OS MMtar (3). AoNrtoTd m-9) 24 7-4 0-4); 
Gay Fawb Franco. dtL Amaad Baatedi. 
THURSDAYS GAME: Jardai wentl-lorx Frt * c *- *« ' S"** BmsnMra (11. 
wttb a ran, mi RBI state, two walks and 0 SPQtodeLgtotoSaictoavSPatoMBOjAa- 
NrtwoutHewoica w t d ateaanpototod B nB droocootomLltriy.iieLMorcrio Me®. Chile. 
Ma. W 3-4 W. 


Priori In rigid Grid. 

SEASON TO DATE: Jordan 1* tofftos .195 
(55-40T-2B7) wRti 24 runs, 12 double& one triple, 
29 RBIxSwoltoTS strikeouts ana 2B stolen 
iln 32atteawis. He hcwnvpatouts, three 


CYCLING 


Tour d* France 


Japanese Ltaguas 


Ymniurl 

Yokrit 

Chunk*! 


HansMo 


PcL OB 


soa 

478 

A3J 


9Y* 

11 

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14% 


. Friday's Resato 
HJrosnima L Yaaikal 0 
Hanridn 1. OwnicM 2 


Resaws Friday at as- k to m et w ( MMdM 
ton sMos toot Owraonw is roooca w*)k 
artist cssp to r. team tod w tmd s s ws: 1 . 
GtoducB Bortotand. IWy, MopsL 4 tours. ■ 
aiHiatsx47*scoads;XDlaiTioiMnsAMouUf 
paroe, Uzbekistan, FblK. 2 secoiKls behind ;X 
Baal Ztara^zwHssrtamL Carrara.2; 4. Guido 
Bo ate i n pC itotv.Gswtto3£ XJsnsHepaasr, 
Gsrma n y, TstomraX 
4 , soon Yales. Britain. Motaroto 2; 7. Ftan- 
lde Andreu . Unltsd States. X X Jan Guarada. 
Siavfdda. Larpprs. 44; X Jaon Klrotosk Esto- 
nia. ChanA 44; IX Ansel Edo. Spain. Mims. 


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SfetanoCalags. M My,2 B M at BL Us XX Fron- 
cols 9mon, France. CaNorama 44; 14, Chrto 
toahe cope He. France. OAK, 44; IX Clwdto 
ctrtonpuoa Italy, Carrara. 44. 


STfcPQUOTE By Alvin Chase 


ACROSS 
t Put in piles 
5 Feudal stilus 

14 Enervites 

15 Bend 

30 Roman title of 
honor 

*1 Not partbound 

22 Ofbaseci^u 

33 Crossing lines 

34 Alex Haley epic 

35 Sicpquote 
(beginning 
across and 
making six 
turns down the 
gridl 

26 Threefold 

27 Compensates 

28 Bknto 

29 Group of <fuaii 

31 Author of the 
Sicpquote 

35 Lower 

37 Snobbish ones 

38 Demand 

41 Boy who rakes 
abbwr 

42 IMS Tom 
Hanks comedy- 

45 “JMv K-oplc* 
juihor 

49 AA1-\. 
member* 

50 City sotnh of 
Gaincssille 

52 Tcm site 


53 Muslims 

54 Federal farm 
subsidy plans 

56 Reagan ... 
Secretary of 
State 

60 Rational belief 
in God 

62 Church of Sl 
M adou’s site 

63 StarinScoipius 
65 Messy abodes 
67 Sunzas and . 

. Pathfinders 
71 Sound 
equipment 
73 Singer-actress 
Susan 

75 Establishes 

76 Old West 
- transports 

80 Titian’s * : 

2 nd Cupid’ 

83 duDiaMe 

$3 Our of the? way 

84 James 
woolsey'sorg. 

85 Bathroom 
sprinkle ■ ■ • 

86 She has a ball 

87 Statuesque 

88 Without any 
changes 

90 Thin tangks .of 
cell chromatin 
94 Conk out 
97 Source of the 1 

S^Juote,w 2 tn 


101 Refrigerate 

102 Show 

appraaaiion for 

104 Habituated 

105 Plant with 

arrow-shaped 

leaves 

M )8 Courtyards 
109' Photo 
equipment 

113 Hearsay 

114 Computer 
command 

US Racecar. uruafly. 



r~ 


r- 

■ 

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■ 

* 


116 Has meter, as 
poetry . 

117 SfnmuaL c.g. • 

118 Souk ing vermin 
|19 Kindpfcapor 

jerk 




Solution to JWe of July 24 * 



DOWN 

1 Scrooge's look 

2 Light purple 

3 Go through \ 
cycles . ■ 

4 Perfectly . 

5 Kid- -(TV 

for children) 

6 Peace 

7. Mineral name 
’ ending 
8 Playoff rounds 
4 McNichoisand 
Market Square, 

«-fr 

10 the day 

(near evening) 
It Nibbled 

13 Hcsiotion 
sounds - 

14 Condescends 
J5 Unanimously 
16 Piavwrighi 

Shafer 



HOUSTON— Aoroed to terms wltti Bratl 


England’s Yates Takes 
Lead as LeMond Quits 


By Samuel Abt 

International Herald Tribune 

RENNES, France — Greg 
LeMond reached the end of the 
road Friday in the Tour de 
France, and possibly the end of 
his glorious career. 

LeMond. the finest bicycle 
road racer ever produced by the 
United States, dropped out of 
the Tour, exhausted, on a small 
hiU, the C6te des Loges-Mar- 
chxs, during the sixth daily stage 
of the three-week race. Tbe fin- 
ish «me at Kilometer 183 (Mile 
113) of the 2703-kilometer 
(168-mile) ride from Cherbourg 
to Rennes. 

The t hree - tim e whiner of the 
Tour, now reduced at age 33 to a 
struggling support rider for his 
Gan had dropped behind 
an ibechzsb. Part of the way up, 
be dropped out of the race. 

“Just one hill too many,” he 
said later at his hotel as he 
to leave for his home in 
jium on Friday night- “I just 
ran out of juice.” 

His abandonment was only 
one shock Friday. 

Another was a change in the 
wearer of the yellow jersey, the 
symbol of overall leadership in 
the Tour. The new man wearing 
it was Sean Yates, 34, an Eng- 
lish rider for the Motorola team 
based in the United Stales. 

Yates finished sixth, two sec- 
onds behind the stage winner, 
Gianluca Bortolami, an Italian 
with the Mapd-Oas team. Bor- 
to lami was part of a seven-man 
breakaway and sped away from 


yellow jersey before. He is a 
team worker, an engine in 
chases after opponents and the 
finest descender from climbs in 
the pack. He is also the room- 
mate and mentor of Lance 
Armstrong, the 22-year-old 
American who is the world 
road-race champion. 

Yates’s triumph was wel- 
comed by his Motorola team- 
mates and officials- Weakened 


strongest climber, in a 
training accident bdbre the Tour 
and the inability of Armstrong to 
get free far a- stage victory so far, 
the Motorola riders have been 
looking far a boost. 

They got it on what was jok- 
ingly referred to as the Tour’s 
Longest Day” — both because 


Ludwig, a German with the Te- 
lekom team from bis native 
country. 

LeMond was stiH in the pack 
at that point and lasted two 
hours longer. 

Only Friday morning, after 
the two disastrous stages in Eng- 
land in which he lost more than 
right minutes over rolling and 
undemanding terrain, he said 
that he continued to suffer from 
chronic and unexplained fatigue. 

“I have to say my patience is 
very thin right now,” he said in 
a recent interview. *Tm on the 
verge of Tf I don't have a good 
race now, Tm going to stop.* 

“People say in hindsight. 


of the length of the stage and 
the fact that it 


‘Greg raced one or two years 
too lc 


celebrated D- 
Day 50 years ago. On the trip 
from Cherbourg in Normandy 
to Rennes in Brittany, the riders 
wheeled past Utah Beach, 
where U.S. troops landed, and 
through Ste.-Mfcre-Eglise, the 
first town liberated from the 
German invaders. 

Then the riders competed in 
a special D-Day Sprint in the 
city of SL L6, from which Allied 
troops brake out to begin their 
advance eastward in '.944. The 
winner of the sprint was Olaf 


long, Greg should have 
stopped in *90 after he won his 
last Tour/ But if I would have 


thought that after my hunting 
accident 


lent I wouldn’t have wen 
two more Tours de France and 
the world championship. ” 

After his Tour victories in 
1986, 1989 and 1990 and the 
world road-race championship 
in 1989 : he finished seventh in 
the Tour in 1991, quit in 1992 
and did not start in 1993. He 
has not wen a race since 1992 
but, even if he never wins one 
a g ain, he goes out a champion. 


For Agassi, It’s Time 

breakaway and spea away trom pwy HI 1 TT _ ¥ 

io Shake Up the Game 


Overall Soodtm: L Sean Yetos. Britain. 
Motorola 21 touts, 44 minute* 22 seconds; 1 
Gtotfuco BortolamL Itnty. MopoL 1 second 
baMad; X Jaton Maseeuw. Betolvm. GB-MG. 
4 saeaadi htohM; 4 Fnadda Andrau, United 
States. S; X Ftowto VanzeUa. Italv. GB-MG. A 
A Mtouaf IndunNn. Spain. Bv«sn. 29; 1. 
DtonoUMna Aodoutaaarav. Uxtokbtoa 
Pol H. 31; A Lance Ar ms trong. Untied States, 
Motorola 32; 9. TMerry Marie. France, Cos- 
Mrama. 37; la Amtand De Las Cuevas. 
Franca Castonana 33. 

VL Tony Romkwer. Switzerland. Mapei.48 
tx Thomas Pavv. France. CMu mto to (X 
MelcNor MOurL Spain. Bancsta 45; T4 PNI 
Andenaa Australia Motorola 54; IX Franco 
Vana Italy. GftMG. 57. 


AL— Announced ttot Erie Anthony. Seattle 
Mariners outfielder, has withdrawn Ms ap- 
peal ot four-acme suspension. 

MILWAUKEE— Put B-l. SurhoH. catcher, 
on iXdoy dlsobled IK. Coltod op Mike Mottt- 
Miy.oottocr.frani New OrtoonAA. Optioned 
Tray CTLctx-Y, outfleklar. to New Orleans. 
Bougie contract of Rlefc Wrona. catcher, from 
New Orleans. 

MINNESOTA— Put Dave Winfield, deto- 
nated tetter, an lXdav dtoobtod IW and Pat 
Mobomex Pitcher, an iSdav dbahlod list rah 
reactive to July A Activated Pat Meartx 
toorlstot from lXdav dtoabtod UsL 

NEW YORK— Actuated Pot Kellv. eeeund 
hoeemagtramiSdoy disabled UsL Put Kevtn 
Ester, toftekter, on lXdav Mstotod Hst 

SEATTLE— Recalled Alex Rodrtauea. 
Sto fl Mto Irani Jocfcsanvfila SL- Optioned 
Rich AmaraL tatlelder. to Cotoorv, PCl. 

Naftoeal League 

NL— Suspended Bob Brenly. Ben Francises 
coach, ter 14 ganM tod Mai Refas. Montreal 
pfieber, tor tour games tar Itwtr Porto In a 
bancMctoertna toddent durtoa the July 2 GF 
ontofcawsppwiA fctotoded Oerwilmo Pena 
SLLoutsseoondtxnmaatorflvegiBTWSief- 
fecMve July Ktor etwrolna Ihe mound In June 
SBaome agatol Cotorada Fined Branty. Rotas 
and Itow undhdoeed amounts, todwaed four- 
oome suspension otBa use dCttfcey. St Lotos 
o u tfiel d er, to two games. 

FOOTBALL 


Second was Djamofidine Ab- 
doujaparov, an Uzbek with 
Polti, and third was Beat Zberg, 
a Swiss with Carrera. The main 
pack, including the previous 
man in yellow, Flavio vanzeila, 
an Italian with GB-MG, fin- 
ished 46 seconds behind after a 
disorganized chase of the 
breakaway. 

Baitolans, who trails Yates by 
one second for the leadership, 
was timed in 6 hours, 58 min- 
utes, 47 seconds. That made for 
a slow stage in cool and windy 
weather brfore a far turnout of 
spectators as the Tour returned 
to the mother country after two 
days in England 

“You can’t choose where 
you’ll win the yellow jersey,” 
joked Yates, who rode close by 
his home in southern England 
and stopped to greet his parents 
on Wednesday. 

Overshadowed in this Tour 
by the other Englishman in the 
pack, Chris Boardman, who 
won the yellow jersey in the 
prologue last weekend and wore 
it three days, Yates took some 
revenge as he celebrated. 

Tm every big a name in 
and as Boardman,” he said 
satisfaction. 


WJ 


In 13 years as a professional 
racer, Yates has never worn the 


Agence France- Prose 

WASHINGTON — Tennis 
is struggling and Andre Agassi 
sees hims elf as the man to help 
fix it. 

“Something needs to hap- 
pen," Agassi said on Thursday 
during a news conference. “The 
interest level seems to have 
dropped. Too many points are 
too short- It’s boring We’re not 
seeing every element of the 
game. We're only seeing big 
serves and returns.” 

Fundemental changes were 
advanced by Agassi, surii as re- 
quiring players to use wooden 
rackets, moving the service area 
closer to the net and banning 
serves over 115 mph (185 kmp). 

“I don’t know what the an- 
swer is,” Agassi said. “I think 
getting everybody thinking in 
that direction is the right idea.” 

More matches between the 
ATP Tour s cap players was an- 
other suggestion. Agassi said 
nearly two years had separated 
his two most recent matches 
against Boris Becker — at Wim- 
bledon in 1992 and Key Bis- 
cayne earlier this year. 

* "We have to do something 
with the Tour, something the 
public can understand, a plat- 
form where the players can 


meet each other more often,” 
said. 

‘In order to have a rivalry, 
you have to play four to six 
times a year,” he added. “But 
there are so many tournaments 
oat there now, you can go a 
whole year and not play some- 
body. It’s a shame." 

Agassi, No. 20 in the world, 
wants to heat up his rivalry with 
Pete Sampras, the No. 1 player 
and winner of four of the past 
five Grand Slam events. 

“1 thmk the rivalry would be 
exciting,” Agassi said. “I don’t 
care what my ranking is. Rival- 
ries are what make sports. 
That’s why tennis is suffering 
right now. To be part of a rival- 
ry that revitalizes the game 
would be more of an accom- 
plishment than going down in 
the record book Tor results." 

Agassi criticized Sampras 
and Jim Courier, who will play 
singles for the United States in 
its Davis Cup match against the 
Netherlands next week. 

“They have not had great 
wins in Davis Cup,” Agassi 
said *Tve seen Pete and Jim gel 
a little tentative in the past, but 
I would be a little quick to be- 
lieve they won't go out and do 
the job.” 


Wadkins, Mediate 2 Vow to Quit French Team 


Kellli 


ARIZONA CARDINALS— Waived 
Rucker, defensive lineman. 

BUFFALO BILLS— Stoned Tom Dafirtns, 
offensive Rnemto and Leonora Lurramorr, 
DOW 

CHICAGO BEARS— Neal Anderson, ran- 


Withdraw From 
The British Open 


Over Bonus Deal for Pierce 


CINCINNATI— Signed Konovls McGhee. 
GREEN BAY— Signed Terry MWwm. wMe 


N EW ORLEANS—' Terminated fltoCOMrad 
at Brad Muster, fullback. 

SEATTL E -Agreed to terms with Le-Lo 
Lana, cnmerti ac *. and Clarence WMUamA 
field end. on ene-vear contracts. Anocwiced 
they wtU not offer contract to Jell Bryant, 
defensive lineman. 

HOCKEY 


The Associated Press 

TURNBERRY, Scotland — 
Lanny Wadkins, the UJS. Ry- 
der Cup captain, and Rocco 
Mediate are the latest Ameri- 
cans to withdraw from next 
week’s British Open. 

The Royal and Ancient Club 
said Friday that Wadkins had 
an ear infection and had been 
advised not to fly and that M&- 


Bll F FALO— Signed Kevin McCMtonX 
rtgftfwfng; Todd Coa el enAdatenseman. and 
Paul R u tota i th. ranter. 

CHICAGO— stoned Mfiee PernkWer, een- 
ter.ond Motftiew Oates end Brent Grieve, tofi 


ALVERN l A— NamedMDwMmer men's es- 
N s tod basketball coach. 

JOHNS HOPKINS— Bob Scott, director of 
am Mia. wffi resign after 1HS season. 

KENT— Named Jennifer tones-Goo*teli 
field hoc ke y axtai. 


.fgrnra France- Prase 

PARIS — Controversy continued to follow Mary Pierce this 
week when her French teammates Nathalie Tauziat and Julie 
Halard threatened to withdraw from the Federation Cup finals in 
Frankfurt in a dispute over a bonus payment being made to 
Pierce. 

Tauziat and Halard complained that Pierce would receive 
200,000 francs ($37,000) for appearing in the event and said that 
all players on the French team should receive equal treatment. 

The team’s captain, Fran^oise Durr, said that Pierce had not 
requested any extra payments for competingin the event. But she 
Ainte was still troubled by the confirmed that after Pierce defeated Steffi Graf in the semifinals 
back injury that forced hun to at the French Open last month, the president of the French tennis 
null out of the U.S. Open last federation, Christian Bimes, had promised the payment to any 
y player on the team who was ranked in the top 10. Pierce is 

currently ranked No. 8. 

“Obviously 1 would greatly regret any decision by Nathalie and 
JuHe not to play.” said Durr. “But if they don’t want to compete 
there’s not much I can do about it.” She said that if Tauziat and 
Halard did not play, she would rail up Alexandra Fusai. Karine 
Qu entree and Sandrine Testud to join Pierce on the team. 

Last year. Pierce was dropped from the Federation Cup team 
for f ailin g to attend a training session. Despite her absence, the 
team reached the semifinals. 


month after two rounds. 

Hale Irwin and Ray Floyd 
withdrew earlier this week and 
Scott Hoch and Steve Lowery, 
who earned exemptions based 
on their current play on the 
PGA Tour, elected to skip the 
event. 

The tournament begins 
Thursday at Turnberry. 


© Neat York Times Edited by Will Sfuwtr. 


r«n ™-wie 
nR 


17 

19 Ntwdoamein 

cat c-iricanire 

21 Conductor . 
Rodzimki 

27’x.y amis' 

30 ■liluMrtniwV. 

urpcLs 

32 Pri«i«»nx 


36 Hamper 
J9 Setting game, 
informally 
40 .Fork prongs 

42 Secret rival 

43 Genre 

44 Tankfnl 

45 Wagner girl 

46 Road to the 
; Rhein. 

-47 Stand side by 
side. 

48 W singer 

Baker’ 

50 With 1«» *»f 
- Hills? 

51 Biblical, verb 
55 Pitcher Turn 


59 Cowardly 
Lion's name 
61 1$ 


parsimonious, 
with “out" 


64 Australian food 

fob 

66 Actress Braga 

68 30% of the 
world's land 

69 Zero. 


70 Investor’s. 
work, for short 




: $3 Hitchcock 57 limping. 
34 Gradual perhaps 

- deterioration 58 Overdone 


72 Hap py sntt 
74 Gist* 

76 Worked up 

77 "k'mo- 

78 Women’s — 


.79 Ragout of 
partially roasted 
. B*™ 

81 Northwest 
Irish pun 

87 Evvn . 

89 Clockwatchers 

90 Necklace 

91 Double fold 

92 Bos 

93 Bogeyman 

95 Tarzan 

96 Popular TV . 

V news magazine 


98 Stan 


99 City on (he Po 

100 “The Dream of 
. Gerontius" 

composer 

101 Inverted V 
103 Elliptical 

106 " smile be 


107 Vacuum (up) 

109 Daughter of 
, Hyperion 

HQ-Vane reading 

111 Author Wallace 


97 Performs-, 
entrechat* 


112 Some name 
toffixnc 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAT, JULY 9-10, 1994 


I 


Europe’s Surprising Challenge to the Latin Game 


f/iunutkml Herald Tribune 

S AN FRANCISCO — In the playground of 
children, anything can happen. Here in the 
United States, where soccer remains predomi- 
nantly child’s play, nature is taking a beating. 

We imagined the heat and humidity would sap 
the European 

game. We ex- Bnh gf . 

pected the Lat- E®** Wj 

ms to come good Hu 9" es 1 
while Europeans 

wilted. We thought history would prevail and 
preserve the status quo of no European World 
Cup winner this side of the Atlantic. 

And what happens? Seven of the last eight are 
Europeans. Only Brazil can defend the Latin 
reputation now; only Brazil can keep the faith of 
a continent that still nurtures so many individual 
talents. 

What tilts soccer against nature? It has much 
to do with bee trade and world economics. 

Just as some Latin American nations grow 
cocaine for export, so the continent sells soccer 
talent. Poverty traps in Argentina. Bolivia, Bra- 
zil, Colombia, Uruguay and so on are fertile 
grounds where talent rises under the sun. where 
boys often have tittle alternative but to play all 
day and a great thirst to escape. 

Too many are sold before their schooling is 
complete. They live and work under European 
conditions, they become accustomed to being 
exotic exceptions in hard-working European 
disciplines. 

When it comes to World Cups, when they 
return so fleetingly to their national cause, there 
is precious little time for coaches to persuade 
some of them to be workers, some to be stars. 


Brazil is searching for the blend. It has the 
forwards, RomArio and Bebeto, to win any con- 
test in the Hick of an eye. It has work horses such 
as Dunga. It has reasoanble solidity in defense. 


B UT THE search for a leader, for a playmaker 
to maintain the rhythm and beat of Brazilian 
style, is not yet convincing. Rai, the tall, angular 
midfielder, could yet be the catalyst, but he does 
not have the confidence or consistency that his 
older brother. Socrates, gave Brazil. 

Rai drifts. IBs year in Paris has been inconsis- 
tent and without consistency, Brazil is having to 
experiment, to feel its way from match to match. 

1 think, nevertheless, that Brazil will beat Hol- 
land in the hot house of Dallas on Saturday. The 
Dutch have slowly got it together under the 
promptings of Coach Dick AdvocaaL 
But slowness in the Dutch defense, quickness 
in the Brazilian attack, is the key. Romano 
versus Ronald Koeman, club colleagues at Bar- 
celona, is a pivotal duel, and whatever Advocaat 
devises to prevent his cumbersome captain from 
being exposed one-on-one to RomArio's quicksil- 
ver pace, it will sooner or later happen. 

Romirio is like a sniper. He can finish the job 
with a single shot. Brazil relies on him, and on 
Bebeto, who also plays club soccer in Spain, to 
provide the Latin continuation. 

Strangely enough, the Iberian challenge at this 
World Cup has less Latin flavor than we asso- 
ciate with Spain. Coach Javier Clemente is a 
Basque, as is the nucleus of his team, and the 
Basques are fighters. 

So when Italy meets Spain in Boston on Satur- 
day, the Italians had better be prepared for a 


contest at least as draining as its last, fortunate 
encounter with Nigeria. 

The African champion betrayed itself, at- 
tempting to sit on an early lead and to play the 
Italians at their own defensive game. Roberto 
Baggio, almost a single inspiration in a neurotic 
Italian side, saved that game in the last mbmentsi 

Yet Baggio and Italy's coach, Anigo SacchT 
seem as distant as their hairstyles are different; 
Baggio sports a pony tail Saccfai is bald. Italy's 
tradition tells us that once it turns a comer of self 
doubt, it wins major trophies. But Spain, attack- 
ing down the wings more than any other team at 
this World Cup, might outfight and outlast Italy. 

Talk of fighting soccer and you get Bulgaria' 
versus Germany in New Jersey on Sunday. This 
will not be for the pnrist. 

Germany began its defense of the World Cup 
in grinding rather than convincing fashion. It 
suffered badly in the one game that it played In 
the midday southern heat, but, as Germans do, 
the players dug deep into reserves Of tenacity. 

I still doubt Lothar MattMus’s capacity to 
switch from midfield to defensive sweeper. But 
against Belgium in Chicago, on a. day when the . 
temperature dropped nearly to European levels, 
Jflrgen Klinsmann and Rudi VOfler came 
through. 

TV 7HATEYER it is, it must be a fine elixir that 
W VODer takes. He is 34, he is out of retire- 
ment, he moves with the stealth of a Faginin the 
penalty box. And the two goals he struck against . 
Belgium make him second only to Gerd Muller 
as Germany's all-time scorer. 

Having benefitted in that match from a gross 
refereeing error, which denied a Belgian penalty. 


Germany has characteristically obtained two 
more days of rest than their ;■ Bulgarian , 


anew this weekend. For the Bulgarians can be 
vulgar. Their play is laced with nasty, vo&tffe, 
dour fouls, ye* they overcome suspension after > 

Suspension. They p e rseve re , and they have- m ■ 

Hnsto Stoichkov a striker who might outwit the 1 - .' 
best or brawl with the worst. 

In contrast to the Bul garian version of former" 

East European sports, Romania readied glorious 
heights of countera txacking-play in the victory 
over Argentina. ■ ■ 

It was a performance to savour. The dentraT 
character, -Gheorghe Hagi, is built Hke;fc£axar \\4fr 
dona, has had problems with alcohol rather than jTy 
drugs, but has slimmed down for this ca&iqg. The 
Americans refer to him as a quarterback, which ** ~ 
is not at aD a bad description for the way tins 
diminutive playmaker directs his side and’ re- 
leases his forwards with passes of fine predsion. 

With Hie Damistrescu and Florin Radudoiu 
•running for him, with his own ability to strike 
from 30 meters; Hagi is almost a celebration of - 
Romania’s liberation from Ccancescn 
He and his teammates pre-empted this tourna- 
ment with a mutinous demand for bonus money. 

Some of them cany precious Bibles, Coach 
Anghd Iordanescu holds a small cross in the 
palm of his hand, and the team members say they , - 
are united in carrying Romnian destiny . . . > ... 

Strong staff. But Hagi possesses something 
doser to football. He is the “Maradona of the 

Carpathians,’' a European graced with Latin , . 

flair. I told you this was a toumamgot for Latins. • . _ . P*? 

Bebeto was scare of IhwriFs chances against me 


Brazil vs. Dutch: Game Fit for the Final 




Reuters Vtdual 

DALLAS — Brazil and the Netherlands true al 
are promising a classic encounter of at- The 
tacking football when they clash Saturday berth, 
in the 1994 World Cup’s most glamourous with r 
quarterfinal. in the 

Both sides want to produce a confronta- ju e 
tion fit for the final in a game they say the 
whole world will be watering. wjlen , 

“This has everything to be one of the best j oban 
games of the tournament,” said Brazil’s dinr-h 
coach, Carlos Alberto Parreira. “From what 
I’ve seen of the Dutch, I know they will ““ 
attack BraziL That will put us more at risk ^' est 
but it will also give us more space to play.” f' ranz 
The Dutch coach, Dick Advocaat. said 
-there would be little variation from the ^ 
side that beat Ireland, 2-0, in the second On 
round with a display that has given the young 
Dutch players renewed confidence in their marks 
ability to win the World Cup. kamp, 

“This is gang to be a fascinating game Ove 
because of the two types of styles.” said the wc 
AdvocaaL “The Dutch play a game that Irclam 
involves players combining on the way to pose ; 
goal. Brazil depends a lot on individual begun 
skills.” goals 1 

“Brazil has a good team with great indi- Pan 


vidual players,” he added, “but the same is 
true about the Dutch team.” 

The key to victory, and a semifinal 
berth, lies in how well the defense can cope 
with two erf the most talented strike forces 
in the world. 

The only previous World Cup encounter 
between the two countries was in 1974, 
when the Netherlands won 2-0, on goals by 
Johan Cruyff and Johan Neeskens, to 
clinch a place in the final. 

The Netherlands, led by Cruyff, lost to 
West Germany, the host, which was led by 
Franz Beckenbauer. The Dutch have been 
haunted since by the tag that the squad was 
the finest team never to win a World Cup. 

On Saturday, the Dutch will rely on two 
young players who have yet to make their 
marks on the world stage: Dennis Berg- 
kamp, 23, and Marc Overman, 21. 

Overmars, possibly the fastest winger in 
the world, set up the opening goal against 
Ireland and his pace on the right is likely to 
pose problems for BraziL Bergkamp has 
begun to find his scoring touch, with two 
goals the last two games. 

Parreira is debating whether to use the 


former Genoa and Porto player Branco or 
Cafu to replace the suspended defender 
Leonardo. 

Neither is a satisfactory solution, espe- 
cially considering the Dutch speed on the 
right flank, and Branco, who has not been 
in top form in the last year, has played only 
half a game since late May. 

But it could be the skills of Romirio and 
Bebeto at the other end that decide the 
quarterfinal. They have five goals between 
them, and have sliced open defenses with 

thflr vifflOn, Hurting nm< snH passing. 

The veteran Dutch international Frank 
Rijkaard, who will have thejob of stopping 
them, regards RomArio, a former rev 
Eindhoven striker who is now with Barce- 
lona, as the greatest player in the world. 

“We are all going to have to produce 
great performances to beat Brazil,” ne said. 

Although P arr e ira gives the Dutch due 
respect, he does not doubt die outcome. 

“They are a very well-balanced team, 
they have a great leader and inspiration in 
Ronald Koeman.” he said. “But Fm only 

thinking of winning . We’re almsHy making 

arrangements to go to Los Angeles.” 









K 











SEVEN DAYS THAT CHANGED THE WORLD 


Hnalfti infflhi Jribant ■ss* 

Raw- Hilt- lii Villi’^ Hi' Hoaiap-d in Hart 
III Ntd-4lui Her Vrili l idrr lir 
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w' HcrnlftfflafSSw-Vribiwt ‘&S* 
Invasion Surcnth in Initial Step* 
Allies Piwh In in ml From Beaches 
Lowes Small in Channel Crowing 



5-11 JUNE 
19 4 4 

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Spanish players working out in Concord, Massachusetts, preparing for tbdr qufnteffiiiad ugjdnst Italy on Saturday. 

No Fear lor Sweden: They’re Unbeatable 


The Atsodmtd Press . . . 

MORAGA, California — Before the 


reach the final match. One of the optimists 
was Klas Ingesson, and he is still standing 
by his prediction. 

“We can beat all the teams that are left 
in the tournament," Ingesson said before 
Sweden's quarterfinal match against Ro- 
mania at Stanford Stadium on Sunday. 

Referring to a first-round match, he 
added, “Tying Brazil gave us so much 
confidence.” 

Even without the striker Martin Dahlin, 
who has four goals in the World Cup but 
was suspended for accumujtated yellow 
cards, Sweden took a 1-0 halftime lead 
against Brazil on Kennet Anderson’s goal. 

Sweden became Nordic champ ions in 
early June, finishing ahead of Itaunaxk, * 
die European champion, and Norway, 
which also played in die World Cup. Can 
the Swedes become worid champions? 

Inoesson doesn't look that for, but said: 
Td be extremely disappointed if we lose 
on Sunday. I’ve never played on a better 


Swedish team and I doubt Sweden wHl 
ever have a side like this one again.” - 

Ingeason, 23, has played for Sweden 46 
times since his debut m 1989 and was a 
member of the team that finished third in 
the 1992 Eu ro pe an Championship.' 

Ingesson, who plays for PSV Eindhoven 
in the Dutch first division and is one of 1 1 
foreign-based players on the. Sweetish 
team, will face one of his dub teammates 
on Sunday — the Gheorghe Fopescu. 

“Gheorghe is one erf my best friends on 
PSV Eindhoven,” Ingesson said. “He’s 
very strong in die air ami I think hell mark 
Kenhet” 

Andersson is the taHest Swedish player 
at 1.93 meters (64ootr4). He has scored 
three goals in the tournament, including 
two m a 3-1 victory over.Sauffi Arabia in 
the second round 

Ingesson was inconsistent in midfield 
during the first round, but played bis best 
game of the- to urnament against the Sau- 
dis. Lack of training was the main reason 
why Ingraron looked rusty early in the . 
tournament . «... 

In May, he was forced to wear a neck 


brace for three weeks after hitting a moose - 
with Ins car on his way to a golf course in 
Sweden. Then, in his second workout in 
the United States, he braised his thigh. 

Ingeason scored off a rebound for Swe- 
den in a 1-1 tie with Romania on June 12 in 
Mission Vigo, California, both teams’ fi- 
nal World Cup warm-up. 

' ; ”We were clearly the better team in that 
match despite the fact that we didn’t have 
our best team while they did,” Ingesson • 
said. “And we're better new.” 

The key to beating Romania, said Swe- 
den's coach, Tommy Svensson, is to dose 
down its options in midfield: that is, . 
©worghe Hagi, who has three goals rad is* 
a leading ca nd ida t e for the tournament's I 
most valuable player award. 

“Hagi has been the outstanding player ’ 
of. the tournament,” Svensson fold. “ms - 
split virion is fantastic. He's fast,- teefani- * 
rally vety strong and dangerous. at free - 
kicks. He also makes other players good.” ■ 

|*It will be our toughest task so far,” be : 
added. “The Romanians were' impressive ji 
urall games except the one against Switze9> 
land, when they showed low team morale." 








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Sweden's Keimet Amtesson pr^ared his head for the Romania match. 












Page 21 



* 


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








S £ SEW 




For the Final 8, the Plan k That There Is No Plan 


sore afoot. 


In ttrmtiOMl HeeaU Tritaau 

B OSTON -r Bulgaria needed to win in Paris 
nearly eight months ago to qualify for the 
World Cop finals instead of France. None of the 
Fiench seemed to woiiy — Bulgaria had never 
won in 16 " mf riw y in die Worid Cup finals. The 
gam*! in Fans was drawn, and Bulgaria was ap- 
parently, predictably, dead in a qualifying round 
900 minutes long. 

Hie ball fdS out of the sky in the 900th 
minute, and finite pmhmmmwmmwhhh 
K ostadinov used |-, n jar* _ 

the shadowed bit of f-hnmyn 
the crossbar to Triomsen y 
knock it into the 

French goal So Bulgaria was in the finals and 
drawn into a final .group with Argentina, twice 
champion since 1978, and Nigeria, which demol- 
ished the Bulgarians, 3-0, is the opening game 
Borislav Mihaylov, Bulgaria’s captain and 
goaZfcoeper, revealed (hat the players had gone on 
strike for two days after recavmg only onenBfth 
of a^ronrised $72,000 ^banus. deteri- 

orate whm^^^^eration^wit back on their 
word given last November,'* Mihaylov said two 
weeks ago. “Now we are just riot up to it physical- 
ly to play a tournament as demanding as this." 

Just & few boots before Argentina was to have 
knocked Bulgaria out of the first round, Mara- 


dona was banished from the Worid Cup for illegal 
drug use. Argentina lost its next two matches, 
including a 2-0 upset that put Bulgaria through to 
die second round. 

Whereupon Mihaylov beat Mexico on penalty 
kicks. 

For all of its fits of drama and tragedy, the 
World Cup has gone basically to plan. Basically, 
there was no plan. A record seven European 
teams have advanced, which might say something 
about European soccer but probably doesn’t — 
other than to deduce that the rest of the world 
went 1 for 11 in the first round. The three coun- 
tries that have won the World Cup three times — 
Brazil, Germany and Italy — are stiB alive, but 
each is hardly invincible, which is why Germany 
is nowin the position of worrying about Bulgaria. 

We are seemg yet again how pressures mount in 
this spot as in no other. Germany has always 
its own grand reputation. 


! yet the Germans will gp into their quarterfi- 
nal Sunday at Giants Stadium in New Jersey 
understanding that Rudi VQUer, the striker who 
turned things around for them last weekend, is 
34; that then* 33-year-old leader, Lothar Matth- 
aus, is still pained by the cut in his right foot that 
forced him to miss the second half against Bri- 
ghton; that they avoided a penalty Unit wbould 
have brought Belgium within a goal of forcing 
extra time, and that now they are facing a team 


that has exploited such weaknesses in its other 
opponents. 

A quarto- of the world’s last eight teams come 
from Central Europe, which might have been the 
least likely such producer in the last five years. 
With the demise of the East bloc, Bulgaria and 
Romania have prospered by selling their players 
to the West, substdumg the game at home while 
giving international players the experience that 
has seen them through the first games here. 

The Bulgarian star, Hrisio Stoitchkov, signed 
with Barcelona for $3 million, a Spanish bargain. 
Another striker, Luboslav Penev, went to Valen- 
cia. while Kostadinov plays for Porta Mihaylov 
for Mulhouse in the French second division, 
tia has grown up just as quickly. Follow- 
ing a 5-2 qualifying loss to the Czech Republic a 
year ago, the team fired its entire technical staff, 
including die manager. Corad Dinu. He was 
replaced by Anghel Jordan escu. who won his first 
three matches to put Romania into these finals. 
His record in meaningful games is now 6-1. 

Gheoighe Hagi, who let Romania down in the 
1990 finals, has lived up to his enormous reputa- 
tion. this year — thanks in large pan to his 
experiences first with Real Madrid and now with 
Brescia in the Italian League. Another of the eight 
Romanians on club payrolls in Western Europe- 
an is the striker Florin Radiirioiu. who bad the 
honor and misfortune of signing with AC Milan, 


the European champion, for which he played only 
sparingly this season. 

“Fd have to say the new political system has 
been helpful,'’ said lordanescu, more than four 
yean after the overthrow of Nicolae Ceaucescu. 
“Romania has always had talented players, but 
under the past system, our players couldn’t culti- 
vate their own personality or image. Now they 
can sign with professional teams and show their 
true talent and their true value." 

Romania would appear to have the easiest 
route to the semifinal, playing Sweden, a fellow 
darkhorse, Sunday in Los Angeles. The other 


lennany and Italy, 

_ it to be surprised to be here (Spain, 
Italy's opponent, having not advanced to the 
semifinals since 1950). 

The pressure has dearly eaten up Italy, which 
has been able to win only in the panic of losing a 

man 

Then there is Brazil, which plays in a prologue 
mode — and a dazzling introduction it is — but 
has yet to get to the point. It has not achieved a 
higher gear, and now it is playing the Nether- 
lands, which, without Marco Van Basten, Ruud 
Gullit and the coaching of Johan Cruyff, are not 
expected to advance. In America, that is just the 
excuse to win. 


Or Is It Bergkamp? 

Striker Blossoms to Lead Dutch Team 


ToBomania,Yes 

By Steve Berkowitz 

Washington Post Service 

SANTA CLARA, CaHfonria -Oft 
want presence? Gfaeorghe HagTs got it. 

Hepoppcd^wlttf Ite kommimniriin 

al soccer team’s locker room -after practi 
at Santa Qua University' and the lean 
coach, Anghri lordanescu,’ who had bo 
deep in a thicket of reporters, was sudde 
!y not surrounded, at aB. 

Hagi waited natiTlie was fully encircle 
thda proceeded. Higprimary language *! 
Romanian «nd ltahan, but a televise 
crew from Mexico readied him first b 
problem. The 29-ytar-oM ntidfieUfcx a 
swered questions ..ratiy in Spanjshj St 
making sure to maintain his habit of refe 
ring to himself in the third person. 

After three goals and three ndn 
leading Romania to the 1994 World Ct 
quarterfinals, the Seamaid asked, di 
Hagi dunk it was iaqxHtanitowin tl 
tournament’s most outstanding . playi 
award? 

“Yes, of course ifs imparta^!'no'Wt^' , 
.jpagj replied. “Bn* aot-oniy is Hagi 
to win an ward, the whole team is going to ' 
win an award.” -T 

Nearby, Mike Bamdeaca, 17,practicaBy^ 
swooned, A Jn|*h school senior wholdt has 
native Romama three years ago' he noiw 
lives in San Jose. Ostensibly, fie was on. 
hand to provide Romarmm-to-Engfish 
translation. Hagi, of course, wasn’t giving 
him a chance to do that. So, he stood jnst 
outside the pack and marveled at the short, 
stocky man with dark harr, daik eyes and a 
face covered with coarse' stubble. * • - 

After the team departed, Banutescu 
proudly recounted what had happened to 
him during Romania's practice the day 
before. 

“I was standing on. the mdrim e s, thcbaH 
went out of bounds arid I actually passed 
the baB to Hagi,” he said. “It left my foot 
and went to Hagi’s foot.” . 

Be continued. 

“Hagi is Hnd . of a symbol for Roma- 
nians," he said. “He seems to be the one 
guy everyone knows. He's our ticket. Now 
people biow we're not jnst Dracsla and 
Nadia Comaneci." . " 


By Helene Elliott 

Los Angela Tima Strrtee 

PAULAS — It is nothing sew for the 
Dutch forward Dennis Bergkamp to be 
living other men's dreams. 

He was named for a Scottish soccer 
player whom his brothers admired, Denis 
Law, and with his family made regular 
vacation pilgrimages to England, where 
they watched as many matches as they 
could. 

When he wasn’t watching games, he was 
playing than. Before he was a teenager, he 
was touted for stardom by Johan Cruyff, 
who shepherded Bergkamp through the 
youth programs of the famed Ajax dub in 
Amsterdam, his hometown. 

Cruyff might have taught him a few 
tricks to fool defenders, but his sure touch 
around the net is distinctively bis own. So 
are his speed and acceleration, which over- 
shadow his subtle, precise skills with the 
bafl. With three Dutch league scoring titles 
to his credit, he has largely fulfilled the 
jmise seen by his family and nurtured 


promise se 
by Cruyff. 


Muted FtebM/llc AMdMd P»o* 

Jfie Patch star Denms Bergkamp taking a break in Dafias, where Ins team faces Brazil in the qaarterfinals Saturday . 


Now, 


le the worid over know Ro- 


of the Carpathians. 

He?s the best player on a team that is on 
thebestWorid Cup ran Romania has ever 
had.. Surrounded by the talented forwards 
IEe Dumitrescu and Florin Radudoiu and 
a hard-nosed defense led by Mfodrag Bdo- 
dedicL, .Bagi helped Romania win Group 
A, ahead of Switzerland, the United States 
add Cokmdna, and then defeat Argentina, 
3-2, in asemriflating second-round match. 

“I think that so far, Hagj is one of the 
two or three best players in the tourna- 
ment," said his teammate Dorind Mun- 
teano. “Romkrio is a good goal-scorer, but 
Gka could emerge as the best gayer," be 
added, referring to one of BrazaTs stars. 

“I opected him to play very well,” 
Mnnteanu said. “Same jreople who don’t 
know him may donbt him, but I was sure 
that he would play wefl." 

Actually, there are people who donbt 
Ham because they do know him. . 

They know he possesses the skill and 
instinct to take control of a game with 


dribbling runs that can leave defenders 
Joctkmg foohsb, with looping passes. Jhat 
spawn Romania’s lethal counterattacks or 
with a perfectly placed shot from 30 or 40 
meters that renders a goalkeeper helpless. 
The soccer worid got a taste ct this during 
the 1990 Worid Cop, when Hagi and the 
Romanians reached the second round be- 
fore losing to Northern Ireland on penalty 
kicks. 

• That performance prompted Real Ma- 
drid, me of Spain's traditional powers, to 
olliofl to purchase Hagj from 
i Bucharest. Steana had been ran by 
Valentin Ceaucescu, son of the late Roma- 
nian dictator, Nicolae Cea person, But the 
Ceancescu regime was overthrown in 1989, 
setting the stage for Romanian soccer 
to ply their trade abroad for the 
.time. 

But Hagfs days with Real Madrid were 
far from spectacular. He struggled for two 
seasons before being unloaded to the Ital- 
ian dub Bresda, which fell from the first 
division to the second after Hagi’s first 
season there. 


Hagi also acquired a reputation for hot- 
headedness. It showed in all its ugliness in 
April, when he spat on the Northern Ire- 
land midfielder Philip Gray during an ex- 
hibition match in Dublin. That resulted in 
a two-game suspension from the Roma- 
nian Football Federation. 

Even in this World Cup, Hagi seemed to 
disappear during a first-round match 
against Switzerland that Romania lost, 4- 
1. Afterward, lordanescu had a little chat 
with his captain. 

“What I can tell you is that Hagi was 
criticized like other players for his play,” 
lordanescu said. 

Hagi responded with fine performances 
in Romania’s final first-round game 
against the United States and the second- 
round victory over Ar g e ntin a, which Hag i 
called “the greatest game of my life.” 

“To be honest,” he said, “I am very 
proud of myself because the years are 
going by. I'm not 22 years old anymore. 
But physically, Tm fine — especially when 
you play in a World Cop." 


Rotate ru/W Aaodatcd he* 


r f Wyniigp predicted a Germany-Brtteil Cop finaL . _ 

Italy Shakes Up Its Lineup , Germany and the Netherlands Have Injury Problems 

eJ _ - ■ — • - * - an CiafM nhn me r»n( linnlK tka PntiA. Diwnl nifnt, kic taarnmflfftS WETS nf 10 Slid uiUhlCOt-ViSC W6 fSfll ZS O.” S& 


CoofUet tv vtr ^ J .j 

aly’s coach, Arngo Saccfai, twBed 
■ GtosJoc* Pagfioca on Friday 
d midfielders GioseppeSagmy 
Beni for Saturday's quartexfi- 


Dino Baggio will return in theeenter of 
the nndfiST^Dowing Roberto Doaadom 
to movc over to replace Sigaon ontoeiett. 


With detenoo ftowaw - — - — 

Jbe ACM3aB^ 
fern Tassotn will tike over from ton » 
right bade lAlt 

Stwo previous matches, replacing Luca 

M j^^^udfi«*ter Antonio Conwvrill 
ina^hL Wodd Om debut on thenght of 
midfidd instead of Bern. 


• JWJCY mniii™* . 

miss Germany’s quarterfinal , agamst 
garia because of a Jegmjuiy. 

“Ifs a piobfem «*h 
said toe team’s coach, Bern Vogts. Tie 
didn’t train the last two days. 


mi in | uoui wm — ■* 

-I really hope he’ll recover in toe 
two days,” Vogts added. “We would 


next 
have 
is 


unable to play-' 

The team had already lost two midfield- 


ers, Stefan Eff enberg, who was sent home, 
and Mario Basler, who returned home to 
be with his wife, who is having problems in 
toe righto month of pregnancy. 

But the good news was that Lothar 
Matthaus had resumed full training and 
should be fit lor Sunday’s game. 

•The Dutch, too, had injury problems, 
with forwards Marc Ovennars and Peter 
van Vossen not being able to train at full 
speed. 

“Ovennaxs is still troubled by a calf 
injury “ said toe team’s coach, Didc Advo- 
caaL The winger ran leisurely laps round 


toe Cotton Bowl while his teammates were 
training with toe balL 
Fellow forward Van Vossen was still 
troubled by a light groin strain, but was 
expected to be able to start Saturday. 

• Spam should be at full strength for the 

first rirrw! when it plays Italy on Saturday. 
Starting midfielder Fernando Hierro 

and defi-nder Rafael Alkoitfi, both of 
whom been nursing strained muscles, 
won cleared by doctors to play and all 22 
players took part in training outade Bos- 
ton. 

“PhysicaBy speaking, the side is 10 out 


of 10 and problem-wise we’re at zoo," said 
the medical services chief, Enrique Gonz&- 
kz-Ruano. 

Veteran goalkeeper Andoni Znbizar- 
reta, sweeper Migud Nadal and midfielder 
Jose Luis Camincro are back from foul 
suspensions. 

• Swedish defender Roland Nilsson 
said he expected to be fully recovered from 
a calf injury- But defender Joachim Bjork- 
lund, who suffered a recurrence of an old 
groin strain in the second-round match 
Saudi Arabia, was doubtfull of 
ig against Romania. (Reuters, AT) 


But not until the last three weeks, when 
the Netherlands began its march through 
the World Cup finals, has Bergkamp been 
able to live his own dreams. 

He was always polite and unassuming, 
eager to please but resistant to suggestions 
that he should be more dynamic. Team- 
mates attributed his unease to shyness, and 
they probably were right. 

Didn’t be reject a chance to play in 
Spain because he didn’t want to be alone in 
a foreign country? And when he decided to 
leave last fall to play in Italy for Inter 
Milan, didn't he insist that the chib also 
sign ins friend and Ajax teammate, Wim 
Jonk, so he wouldn’t be alone? 

They understood his skittishness, but 
some wondered about it. If he was reluc- 
tant to test himself in Spain, how would he 
perform under the pressure of starting for 
toe Netherlands in the World Cup — and 
of bring responsible for the team's offense 
after Ruud Gullit quit and Marco van 
Basten was injured? 

To their delight, he has reacted with his 
usual poise and modesty — and new assur- 
ance. Ber gkamp , 25, has blossomed during 
toe last tone weeks, becoming a complete 
player who is also completely at ease. 


He has dominated play in leading toe 
Netherlands to its quarterfinal match 
against Brazil on Saturday at toe Cotton 
Bowl in Dallas. He has soared two goals 
and assisted on another in his last two 
games and has generated scoring chances 
m every game, transforming the Dutch 
into an entertaining team that isn't hesi- 
tant to attack. 

“He is such an elegant player.” said his 
teammate Bryan Roy. “He is an intelligent 
player who scores a lot of goals. I think be 
will become toe greatest player in the 
worid.” 

He has given credence to that in toe 
Netherlands' four games. When he isn’t 
scoring goals, he is setting them up, as he 
did Roy’s game-winner in a 2-1 victory 
over Morocco in toe final first-round 
game, giving toe Netherlands the Group F 
title. Bergkamp scored toe first goal in that 
game, taking a pass from Peter van Vossen 
and beating toe defender Smahi Triki be- 
fore flicking toe bah past a helpless goal- 
keeper. 

“I saw right away it wasgoing to be a 
van Vossen said. “That goal was 
itifuL It was a beautiful moment.” 

It was significant, too, that in discussing 
that goal and his growing list of achieve- 
ments, Bergkamp looked directly at inter- 
viewers, speaking softly bat frankly and at 
length. In an interview a few weeks ago. he 
had looked off into the distance and mum- 
bled something politely vague. 

*Tm more confident,” he said. “And I'm 
playing with much more confidence, like 
the team. We have taken our level of play 
to another level since the first round. If we 
continue to build our confidence and play 
like this, we should do very well." 

Success has always come easily to Berg- 
kamp, who made his debut for Ajax at 17 
and for the Dutch national team at 21. The 
season he joined Ajax, the team went to toe 
Cup Winners’ Cup finaL He led Ajax to a 
Dutch league title in 1989-90, the season 
after be had set a league record by scoring 
goals in 10 consecutive games. He was toe 
Dutch player of the year in 1991 and toe 
players' player of the year in 1992, yet his 
critics weren’t satisfied. 

“They always expect me to score goals,” 
be said. “When you play in Italy and play 
for the Dutch team, toe expectations are 
very high, always.” 

“For me, it has always been like that.” 
he added. “When I was a young kid, 12 
years old, 1 played for Ajax and there was 
pressure. Every year the pressure is getting 
bigger and bigger. For me, it’s the same 
here.” 

But it wasn’t the same old success story 
when he went to Inter Milan last falL He 
chose that dub instead of Barcelona, 
which is coached by Cruyff, because Inter 
promised to build its team around him and 
was wilting to pay $6.25 million to get him. 
He straggled to learn a new system, a new 
language and a new position — striker — 
instead of withdrawn forward. 

He was roasted by the soccer-mad Ital- 
ian press, called a spoiled rich boy and too 
meric to succeed. 

“In Italy, they threw me into the lion's 
den,” he said. “It was difficult, but I kept 
my faith in myself." 

It took a while, but be turned faith into 
results. Although Inter finished near the 
bottom of toe regular-season standings. 
Bergkamp produced a flurry of eight goals 
in leading toe dub to victory in the UEFA 
Cup tournament. In the meantime, be was 
guiding du Netherlands through Worid 
Cup qualifying, scoring five goals in four 
games 

“He can make toe difference in toe field 
in any game,” said Ronald Koeman, the 
Dutch captain. “He’s playing on his best 
[level] right now." 

When he plays well, so do the Dutch, 
They attacked from toe start of their 2-0 
second-round victory over Ireland, and 
Bergkamp was in the thick of it. He con- 
verted a pass from Marc Ovennars to score 
the first goal which forced Ireland to mod- 
ify its def ensiv e stance and attack. That, in 
torn, left more openings for Bergkamp and 
his teammates, who scored again before 
halftime and played their best overall 
game of the tournament 

“The first half was a real showing of how 
the Dutch team can play,” Bergkamp said. 
“Unlike toe first three games, we dominat- 
ed everywhere, up front, in midfield and 
on defense. This game proved we can play 
with players on toe wings. Teams don't 
have to be so defensive to win games. This 
style of football has worked very well for 
us. We showed how Holland can play.” 

Well enough to beat Brazil? Bergkamp 
wasn't saying. 

“They are very talented and they have 
two great forwards in Bebeto and Ro- 
mirio,” he said. “But they need to worry 
about us, just tike we worry about them.* 




Page 22 


xauzJiiio&i* 


INTERNATIONAL HERALD TRIBUNE, SATURDAY^UNDAY. JULY 9-10, 1994 


DAVE BARRY 


r G --L --0 ~R -I-I-I-I-I-A ’ 

M IAMI — Bruce Spring- chines. When he gels cm stage, 
steen played my guitar. I Joel tends to get nervous and 


1YJL steen played my guitar. I 
am not malnng this up. It was 
the high point of my musical 
life. I am never going to wash 
my guitar again. (Not that I 
ever did before.) 

I should explain that I belong 
to a band called the Rock Bot- 
tom Remainders. It consists 
mostly of writers. The original 
concept was that people who 
spend all their time writing 
would enjoy a chance to express 
their musical talent. The flaw 
here is that most of us don’t 
have any musical talent. So we 
compensate by playing ampli- 
fied mstruments loud enough to 
affect the weather. Also we 
stick to songs that are so well 
known that even when WE play 
them, people sometimes recog- 
nize them. 

For example, we play “Louie 
Louie.” You know how scien- 
tists have been trying fruitlessly 
for years to contact alien beings 
by broadcasting radio si gnals to 
outer space? Well, I think they 
should broadcast “Louie 
Louie.” I bet alien beings would 
immediately recognize this song 
and broadcast a response 
(“PLAY SOMETHING 
ELSE”). 

D 

For a change of pace, the 
Rock Bottom Remainders also 
play “Wild Thing." We employ 
two powerful musical weapons 
when we perform this song. One 
is Roy Bloont Jr„ a great humor 
writer who has the raw natural 
musical talent of a soldering 
iron. At the end of the first 
verse, the band pauses dramati- 
cally, and Roy is supposed to 
say, “I LOVE you”; at the end 
of the second verse, he's sup- 
posed to say. “You MOVE 
me.” So wboi we get to the end 
of the first verse, we stop, and 
everybody turns expectantly to 
Roy, waiting for him to say “I 
LOVE you,” and Roy, frowning 
with deep concentration, inev- 
itably says: “You MOVE me." 

Our other big musical weapon 
an “Wild Thing” is Joel Selvm, a 
writer and rode critic who plays 
a plastic Ante that lodes like the 
kind you get from gum ball ma- 


chines. When he gets cm stage, 
Joel tends to get nervous and 
Wow REALLY HARD, so that 
instrad of notes, the flute emits a 
series of extremely high-pitched 
squeaks, like a gerbtl that fell 
into a french-fry machine. Some- 
times Joel’s entire solo is above 
the range of human hearing. 


1 play lead guitar in this 
band. My sole musical qualifi- 
cation is that I am slightly more 
experienced than the guy who 
plays rhythm guitar. Stephen 
King, well-known author of 
children's books (“The Little 
Engine That Could Sneak Into 
Your Room at Night and Eat 
Your Eyes”). In May, the Rock 
Bottom Remainders performed 
at a party in Los Angeles at the 
annual convention of the Amer- 
ican Booksellers Association. 
The audience members were re- 
ceptive, by which I mean they 
had been drinking. Some peo- 
ple got so receptive that they 
demanded an encore, so we de- 
cided to play “Gloria,” which 
we like because it's even simpler 
to play than “Louie Louie.” 

So we went back on stage, 
and I picked up one of the two 
guitars I'd been using, and just 
as we were about to start, Ste- 
phen tapped me on the shoulder 
and said, “We have a special 
guest” I turned around, and 
there was Bruce Springsteen. I 
still don't know how he came to 
be at this convention; I don’t 
believe he’s a bookseller. All I 
know is, he was picking up the 
other guitar. My guitar. 

So we played “Gloria," and I 
say in all modesty that it was 
the best version of that song 
ever played in the history of the 
world, going back thousands of 
years. 

Anyway, now I'm back in my 
office being a columnist a gain . 
But from time to time my mind 
drifts back to that night I 
haven’t polled the other mem- 
bers of the Remainders, but I 
think we would definitely let 
Bruce join the band, if he wrote a 
book. 

I would even let him play 
lead guitar. 

Knight-fodder Newspaper* 


International Herald Tribune 

P ARIS — Unlike a lot of artists these days. Bill 
Fontana, who makes sound sculptures, has been 
really lucky in Paris. His first project since moving 
here was accepted, financed and completed; No 
mean feat since it involved wrapping one of the- 
dry’s great monuments, the Are de Triomphe, in a 
wall of white noise. The work is called “Sound 
Island.” 

What Fontana did was install loudspeakers on the 
monument’s facade and a complicated console in 
small office, normally used by the military, in the 


MARY BLUME 


upper reaches of the arch. Bemused tourists walking 
through the pedestrian tunnels under the murderous 
Place de PEtoile or standing near the tomb of the 
Unknown Soldier hear, instead of the roaring traffic's 
boom, the tremulous cadence of the sea. 

Sealed before his console, Fontana, who has made 
m«ianatifHis from Sydney to Frankfurt, explained his 
work: “Sound sculpture is a spatial presence of sound 
that endures in time. So that in the Arc de Triomphe 
you have the spatial presence of the sea enveloping the 
monument.” 

“Sound Island,” which Fontana first presented at a 
Paris show of public art projects in 1993, does not 
involve recorded replications but live transmissions of 
the deep sea swells from two points in Normandy. 

In the pedestrian tunnel, the sound is t ransmi tted 
via a hydrophone hanging from a whistle buoy five 
kilometers (three miles) out at sea. At ground level, 
the sound comes from coastal waters breaking near a 
German bunker at the Pointe du Hoc. Transmission 
to the arch is by digital telephone. 

“The whole monument is engulfed by the sound of 
the sea.” Fontana said. 

He put together “Sound Island,” which opened 
June 15 and was scheduled to run all summer, in only 
two months. With relative ease, Fontana got the 
$350,000 needed for “Sound Island" from the Minis- 
try of Culture, the city of Paris, and private backers 
such as AT&T. 

Where he was lucky was that bis sound, coming 
from Normandy, fit in with the June celebrations of 
the D-Day landings. He also hit, unwittingly, a sensi- 
tive spot in the Paris psyche which, despite its metro- 
politan arrogance, likes to be reminded of its rural 
roots. 

One of the most successful slogans of the 1968 
events was “Undo- the cobblestones, the beach,” and 
a few years ago French peasants, who annually drive 
the country mad with their demonstrations, charmed 
Parisians by covering the Avenue des Champs-Ely- 
sfees with bay. Equally pleasing was the declaration 
some years back by the prefect of police that the 
hunting season was open, although there is no hunting 
in Paris. 

“It is wdl known that the pleasure of hunting is 
quite distinct from actually shooting at game,” the 
prefect explained. “The prefect of police did not want 



Sound artist Bill Fontana fmetumng fbe surf at the Paris landmark. - . . ,^ v , r : v-r 

to deprive Parisians of a dream so essential to urban he transmitted sounds between, two bma 

civilization.” the Danube's wetland, and he has toef acatfc 

Fontana, who lived in San Francisco before moving of New Yak’s Worid Trade Center wri v sounds from 

to Paris, says that the Arc de Triomphe project grew the Brooklyn ‘ Bridge. ip* .-'.j- 

out of an installation he made in 199L m which the The difference between sound and noise isquiie 
sound of Niagara Falls enveloped the facade of the simple, Fontana says.“Noise is sound ydurfon’t want 

Whitney Museum in New Yak. to listen to, sound isneise that 53 m ,da fiscal, Je/i. 

“1 am fascina ted by the r datkm ships between “It’s become normal for most people ^ to 

sound and architecture,” be said, “transforming archi- Tr f pit » n ricro phonein the Plao^mvlF^fe 

tecture with sound because architecture is massive and transmitted the traffic to seme odierj>laG«v4iie» 
and sound is ephemeral. It’s a way of deconstructing people would haar the sound because then ability to 
architecture.” ignoreit has been taken away. By contrast, if yoritake 

Not all architects are eager to have thdr work the sound of the *», wbich roost people regard as a 

deconstructed but Fontana says that sound can also positive dement, and you put it. in t h i s situation, 

refocus attention oin a monument and that this is what people are forced to listen in a way dial’s really out of 

happened at the Arc de Triomphe. “This is a' place context.” - 

that nobody ever pays mndi attention to, it’s a kind of Fontana knew that his sound wouM be tskfN and 

forgotten monument' except for the tourists. You officially stilled by the nose of military bands on- 

certainly don’t find Parisians coming to this place.” Bastille Day, but during die interview lie <B3 not 

In addition to the sounds of the sea at ground level, reaEze he was headed for bte swim song. . 

viators on the arch’s viewing platform have the stately The next day he was summoned to fee Mnistiy ft., 

panorama enlivened by live sound from such Para Culture and told that after BastiHe Day “Sburia 

sites as the stock market, the Eiffel Tower and the Tdand " would be ypt ilf d , 

Dmx Magpts caffc ... The problem was money: The cost cf. transmitting. 

Fontana, 47, usually cam® a small digital tape Nonnah waves to central Paris by digital telephone 
recorder and a microphone, i ms month henas anew ^ amply hf ph “fa othq -.wrgds f Urmtamm «At> 

installation opening near Innsbruck, Austria, m a have an enormous bffl.” - 

museum that was once a salt factory. u- c •.-_ -fa .. . . 

“The sound is inspired by the geological history of 
salt mining,” he sa\ 5 .Tbcwodcam^ 5 tofresaDaiices ranfe Sounding broro 

caniedbyndcFopnanes placed in bid wooden pb>es ■ 

through which the salt passed. ; SS 5 . A 1 * 

Similarly, for the Japanese Cultural Institute in 
Cologne he made an installation called “Sound of an 

Unbfown Flute.” a title taken from a haiku: “I. just SSPSJ’SffSJ! ‘ 

listened to the sound (hat these flutes made when they lo, ^ er . “*** . y 

weren’t being played.” He is hoping toget-a bock mid ocwipa ct tid e outer 

A favorite among Fontana’s hundred or soimrtallar “Sound I^tkT _ mdAs> findbackm* to tnramttt bre* 

tions was “Distant Trains” in 1984, winch carried the m arked. sounds m the now-dead pubhc sp^ceof toe?.., 
so unds of the m«m Crtlngn* t rain station to a Berlin former H a ll e s . He is -muled but not saenced. J 
station and then to country fields. For “Vienna Land- “I still fed KkeTre feeJudriest gay m Tar^’^BS" 

scape Soundings,” which also exists on compact disk, said. . 'i -'v . . . v:> Viv ' 


to listen to, sound is. noise that 33 ^, da : Es$eflk 
“It’s become normal for most people not tft|gten to 
sounds, If I put a nricrophone in the Plac^deTEtflae 
and transmitted the traffic to seme cdierjhav'Ats: 
people would hear the sound because tbeu abOriy to 
ignore it has been taken away. By contrast, ifyontaie 
toe sound of the sea, which most people regard as a 
positive element, and you put it. in this sztpatijria, 
people are faced to listen in a way thafs really oat of 
context.”. 

Fontana knew that his sound would be fcaiefly an d 
officially stilled by the noise of military bands oh 
Bastille Day, but during toe interview ho .33 riot 
reaEze he was headed for bio swim song. > 

The next day he was summoaed to thehfimsb^ nfc* 
Culture and told that after Bastille Day “Scoria j 
Island " would be scuttled. 

The problem was matey: The cost of transmitting . 
Norman waves to central Paris by dig ital td ephbne ) 
were simply, too high. “In otofcr-wards,” Fontana said^; 
“we have an enormous td^we M." ' 

So his project will test six weeks instead of three 
months. Soamfing brave on the tdepfcoEeaffer * 
ting the news; Fontana said, “T think" ytia- shotikL 
realize what.a remarkable tiring this was for the r 
French to take one cf their most iambus mrawioaits ’ 
and let an artist . work Eke this. If yon think of., 
Christo’s wrapping of the Pont Neuf^ithte .tasted 
longer and they need to digest the experience.” 

“ Soun d TdSraT’. find ^BM^inft tO ttmaadt Kvtfet; 

market sounds in toe now-dead public t^ejce cf -thcr . a 
former HaDes. He is mnted but nbf sflenced. * 

“I still fed Kkc rm tijeloddest guy m " 

said. ' . W': : 'A- 


PEOPLE 


Record Firm's Memory 

Ekktra Records, which pro- 


iL/rinmtoiHg he r n ose at the 
whole system.” Buttafndco 
serod four months in jail far 
havi^ sex with a then-under- 
./me-^toer. Fisher, now 19, is 
£&4mg5 to 15 yArs for wound’ 
•^eg-Bmfefaocd’s wife, MsryJe, 



WEATHER 


Europe 


Forecast for Sunday through Tuesday, as provided by Accu-Weather. 


UiMim 

Laban 


Today 

Mgh Low 
ae ae 

20 /BZ 1 B*A 
asm u/57 
STfM Ifi/SI 
oam asm 
37100 21/70 

asm 12/53 

22/71 12/53 
23/73 13 1» 
asm 13/55 
asm 13/38 
ai/w asm 
asm u/57 

18 /B 4 14/57 
2 MB 17 KB 
24/75 13/56 
ZUK 1*/37 
23 m 13/55 
32/89 20*88 
27 AD 22/71 
27 /BO ISAM 
23/73 13/55 | 
33/81 17/82 
27180 17/82 1 
23/73 11/52 1 
21/70 12/53 : 
asm 18/84 1 
27/80 17 * ] 

asm 21/70 I 
asm u *7 

18*4 12*3 
14/57 12*3 
31/88 20/68 

1 asm 12*3 

25/78 14*7 1 
24/75 13*5 | 
34/75 13*5 : 
asm 18*5 
18*5 13*3 I 
21/78 14*7 : 
23/73 13*6 I 


Oceania 


14*7 7/44 ■ 14*7 9 <48 c 

17* 8/48 e 17 * am pc 



I UmwnonaWy 
C<*J 


North America 

Washington. D.C. to Now 
Yorfc City and Boa Ion will 
havB swviy. pleasant weath- 
ar eariy next week. Chicago 
to Detroit writ tom warmer 
and ncraasingty humid earty 
next week. The Southeast- 
ern stales will have sunny, 
warm weather. Sunshine wfl 
continue to scorch the 
Southwestern states 


Europe 

Madrid through the French 
Riviera w# have sunny, vwy 
warm weather Sunday into 
Tuesday. London and Paris 
wa have sunny, progressive- 
ly warmer weather Sunday 
through Tuesday. Cooler 
weather wll seitta southward 
kito southeast Europe early 
rend week along with a lew 
scattered thwdvstorms. 


Middle East 


Today Tomorrow 

High Low W Wgh Low W 


31/88 23/73 1 32 * 23/73 pc 


36*7 19*8 
29/84 16*1 


38/97 20 * ■ 
31 * 17 * ■ 


28 * 17 * s 28 * 18*4 ■ 
38.-102 aim 3 4 I/ 10 H 21/70 a 
43-108 26/82 s 42/107 2 B /78 a 


Latin America 

Today Tomorrow 

High Low W M 0 i Low W 
OF OF OF OF 
BinnoiAaes 13*3 3 or a 13*5 «/«3 I 

Caracas 31 * 24/73 pe 31/88 25/77 pc 

Una IB *4 18*1 pc 13*4 15*0 PC 

MmtaoOy 24/75 12*3 rfi 23/73 12*3 pe 

HbdoJwwn aim 14*7 pc 21/70 15*9 pc 

Sweogo HUM 4 * 0 1 B *4 6/43 pc 


Hongkong 


Asia 

East central China will 
remain unbearably hot and 
humid Mo early nest week. 
Very warm weather will 
extend northward Into Seoul 
and Nagasaki. Beijing will 
have a tew heavy showers 
end thunderstorms. Typhoon 
71m wB threaten Taiwan with 
flooring mins and damaging 
winds Monday into Tuesday. 


Legend? s- sunny, pc-jwrt/y ctoudv. ocioucy. an-sftgwws. WhuxteBtoms, r-«fc\ s^snow lurries, 
on-enow, i-toe, W-Waafwr. AS maps, forecasts and dots provided by Accu-Wfeather, Inc. 0 1994 


Today Tomorro w 

Mgh Low 87 High Low W 

OF OF OF OF 

33*1 asm i 3 am asm ■* 

34/83 24/75 pe 35*7 24/75 pa 

31* 26/78 c 31*8 26/79 pe 

30*6 24/75 I 31/88 24/75 Sit 

33*1 24/73 «h 34*3 26/79 I 

31* 23/73 sh 31*8 23/73 pc 

34*3 27/80 pe 34*3 25/79 pc 

32* asm pc 3 ?* asm pe 

35*7 asm pa 34*3 77/80 di 

28*> 22/71 I 31* 21 m pe 


A frw» 28*2 21/70 > 29*4 22/71 pc 

t^alwa 14*7 am pC 14*7 5/48 pe 

CsottAraa 27 * IB /84 a 27 * 18 * pe 

l-taa 21 /JO 12*3 I asm 13*5 pc 

Updo 28*2 24/75 I 29*4 2 n/ 7 S pc 

mwr*i 21/to to* pe asm 12/53 pc 

Turn 32 * 18*4 s 31 * 21/70 pe 


North America 


17 * 7/44 

30 * 21/70 
32 * 22/71 
2 B 4 » 16451 
29/84 14/57 
30 * 18/84 
29*4 23/73 
34*0 22/71 
29*4 19*6 
32 * asm 
23/73 14/57 
27 * 14/57 
31 * 24/75 
38*7 24/75 
44/111 28*4 
23/73 13/55 
24/75 11/52 
27 * 13*5 

37*8 asm 


HanokAi 
Houston 
Log Angelas 


Ih 18*4 10*0 pc 
l 32 * 21/70 pc 
pc 29*4 18 * 1 

pS 28 / 8 ? HUB 1 pe 
* 35*5 17*2 S 
pc 28*2 17 * pc 
a 30 * M /76 pc 
pe 34*3 23/73 DC 

pc 32 * 20* ■ 

I 32 * 26/77 pc 
e 24/75 16*1 pe 
■ 21/70 1203 sh 
pc 32 * 24/75 pc 
1 33*1 21/70 I 

a - 0 / 10931*8 f . 
a 23*3 13/55 s 
S 26*2 14/57 pc 
I 22/71 12/33 *1 
t 34 *3 22/71 I 


The Benches of Central 


fetal fiateA’j-*/ 


to Tell 


By Anne Raver 

New York Times Service 

N EW YORK — You may riot think 
that seven beaches could tell the near- 
ly century-and-a-half story of Central 
Park. But if you know what you're sitting 
on, they can. 

Across from the park, at the Cooper- 
Hewitt National Museum of Design, at 
Fifth Avenue and East 91st Street, is a 
handful of benches deceptive m their pro- 
found simplicity. A few evocative old pho- 
tographs, accompanied by some weE-cho- 
sen words, capture the essence of each 
bench's moment in time. 

But essentially these seats just sit — in 
the museum’s elegant garden, which was 
designed to set off Andrew Carnegie's 64- 
room m ansion when the steel mngngrg 
his family moved uptown in 1902. 

It was a prescient act Wealthy New 
Yorkers tike the Vanderbilts and the Tiffa- 
nys had moved to the East 70s and 80s 
around the turn of the century, tat Fifth 
Avenue was still a dirt road. Hardly 50 


years before, Central Jteikfiad.beaicmXted 
out of 800 acres (325 hectares) of swarpp^ 
woodland, rocky cow pastures arid tome* 
settlements of toe city’s manri^rant . and; 
Mack populations. A :\'j' 

The benches in the former Qupegro.giff- 
den range from the rustic Adirtaaack' s$fe 
of the park’s be ginn i n gs to an ortrate hoop 
armed cast-iron model made for the 1939 
World’s Fair to the 1994" look-alike that 
echoes tows first Central' Park stttee from 
the 1870s. 

The star of the show, “Angles of Re- 
pose: A Garden Exhibition- of Central 
Pink Benches,” is a reproduction of one of 
the rustic log beaches fast designed §Y 
Calvert Vaux and Frederick Law Olmsted 
to overlook the panoramic vistas of / tod“ 
artificial wilderness for wiridi the twog&tk- 
makers moved so many tons of eartitariti 
rode to construct. - • - : J . ; " : 

“They were supposed to tramqparf /da 
into a state of nature, " said Mkhae^Owen , 
Gotltin, a landscape antohect tta con- 
servancy. “By sitting on tK ff i and viewhig 


r-SSt on tfate-oew old bench for A while. ~ 
Let ffs rnsftm logs tickle your less. And 
ttaa take a w^k in the foimble, looking 
fewTtetrebears that remain: The 
R a mfri eiLW*ndi-«ara north erf the Lake, 
ay aboat. ?^ Street, is a wooded area that 
beiSttabWt^ed wOT aTiM^ during the 

dfs inmortmit to be cautious in . 
seaSacff arras of toe park; it would be 8 
shame tomissoat om the sense of mystery 
and Olmsted bmh 

-^ftaaanhtemeansto wander, to rambte 
^joo^T Goritin said. “The paths are ezren- 
htas^Thcy comem on each other, and it’s 

- * 5— -«•• - I ‘ ‘ 


: was put of the picturesque idea 

-“-toenterthe forest witiLa Hylc . trepda>- 
tidh. 1 To fed something ominous, about a 
w a te ital t ortobe sKghtly fearful of rodts. 
Az>4 then to be.amazed by smoe spectacu- 
'lar view.” 


... . - T 


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I. Lisk^ihe chan bdow, And dwcountryyou are cafflngftotn. "! . ; , : .v..v?j' • 

1 Dial^^e /g sa - Access Numtote - • ' /. : to t - rv ' '•> ~ ‘yf_ ■■■ ' ‘ 


COUNTRY ACOESS NUMBER 

■; ASIA ^ 

Aowndla 1-80Q«81-Q1I 

China, PRCW 10811. 


CXJHNIRfr ACCESS] 




Guam 

Hong Kong 

Indonesia* 

Japan"- 

Xorat 

Korean 

Malaysia- 

New Zealand 

Ph nipp ln rn* 


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OOP-U7. 


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001-801-10 

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009-11 

IV 

800-0011 

000-911 

105-11 

235-2872 

80CM)lll-ni. 

• 4XM3Q 
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001^991-1111 


EUROPE 


8*14111 


Wetheriaodir 
Mcwway r : 
Botany* .- , 


RoafttirtMaacowj^ 


s w a i e u * ' oa 

Swlueihroif -' '•••* : j 

P-K- - .050( 

CTo r afae*. -, / 

MIDDLE EAST 

Bah rain . 


■ ' 8a96 - gifafifcfrj 

~ o-axftfa i 

* 99«0 O42^^Ea I adbi* ~~ 

(B3Q^9OU0 / aadvadotV" 

. ■ CaaKsjHb.*.^ 

0^0 22-9111 Goyaxurr-^ 
■800- 190TT Hooduos** ' 
8*O1 Ot 480-Q111 MexiccA**. ~ 


' Qpnnoio 

r OOlA-0512 

. 980-11-0010 
• 114 

• 119 . 

~ - 190 

. 190 . 

>1^5 

, 123 

95-800-462-4240 


. . Wrrngiw CMwwginQ 

PXDVQUi 

: faS r ■ ■ " 

- -Suriname-' 


Venezuela** 


174 
•4 . 109 
191 

- ------ yfrsfr ';' 

:. 090410 - 
etwm- 120 .. 


■Brittshvi 


CAMMED 

' 1-800-872-2881 

■ - - ■ ■ 1-3098732881, 
■ 1-800-672-2881 


0800-100-10 
00-1800-0010 
99684)011 
0042000101 
-- BOOlrOOlQ 
9800 - 100-10 
19*-001I 
• 0130-0010 
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OOi^QOOlUl 
999601 - 
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Israel - 
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Lebanon fflelmt) 
Qatar . . , 

Saudi Arabia 
Turitey* 

UA£.“ 


MOOS7W881 



; — wwo-itw-io. cyprar . .. ..... v.,.nao«lflto ..^ GteaaHt - ' 'rjwumjxh 
Buiga oo-iaowmo S Si , ■ xtt-wcto 5F - 

■■ ^ 

-■ 9865^5 S^bia" 

^ : J** 2 H pjqr dowiaag? 5Wt2D0 

attar wwoo-Bii AMEairw . ".••..'"S? 

Hnaf*r UMOMim Aggdro.-' ' aM'^axMiri ’ EUr.":' ' .: r n ^ 

■ 999001- BeBzftq •W>-v.v^. • ; r 

SS2t_ «?**«« .afar, , - . 

phones require UcpaJ/o/ rata □rn/mn.irwiTi /nr. ■ q»_j l ii»^Sl ^l^ tf* l !n8ViilieMnaifciii umj- »,* 


0014)01 
00111 
. QRXMO 
797-797 


^^pt y oar H ^ay»ko/cakiQfptoK t aidt l y t iM MW . 


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